20001001@unknown@formal@none@1@S@Pierre Vinken, 61 years old, will join the board as a nonexecutive director Nov. 29.@@@@1@15@@oe@2-2-2013
20001002@unknown@formal@none@1@S@Mr. Vinken is chairman of Elsevier N.V., the Dutch publishing group.@@@@1@11@@oe@2-2-2013
20002001@unknown@formal@none@1@S@Rudolph Agnew, 55 years old and former chairman of Consolidated Gold Fields PLC, was named a nonexecutive director of this British industrial conglomerate.@@@@1@23@@oe@2-2-2013
20003001@unknown@formal@none@1@S@A form of asbestos once used to make Kent cigarette filters has caused a high percentage of cancer deaths among a group of workers exposed to it more than 30 years ago, researchers reported.@@@@1@34@@oe@2-2-2013
20003002@unknown@formal@none@1@S@The asbestos fiber, crocidolite, is unusually resilient once it enters the lungs, with even brief exposures to it causing symptoms that show up decades later, researchers said.@@@@1@27@@oe@2-2-2013
20003003@unknown@formal@none@1@S@Lorillard Inc., the unit of New York-based Loews Corp. that makes Kent cigarettes, stopped using crocidolite in its Micronite cigarette filters in 1956.@@@@1@23@@oe@2-2-2013
20003004@unknown@formal@none@1@S@Although preliminary findings were reported more than a year ago, the latest results appear in today's New England Journal of Medicine, a forum likely to bring new attention to the problem.@@@@1@31@@oe@2-2-2013
20003005@unknown@formal@none@1@S@A Lorillard spokewoman said, "This is an old story.@@@@1@9@@oe@2-2-2013
20003006@unknown@formal@none@1@S@We're talking about years ago before anyone heard of asbestos having any questionable properties.@@@@1@14@@oe@2-2-2013
20003007@unknown@formal@none@1@S@There is no asbestos in our products now."@@@@1@8@@oe@2-2-2013
20003008@unknown@formal@none@1@S@Neither Lorillard nor the researchers who studied the workers were aware of any research on smokers of the Kent cigarettes.@@@@1@20@@oe@2-2-2013
20003009@unknown@formal@none@1@S@"We have no useful information on whether users are at risk," said James A. Talcott of Boston's Dana-Farber Cancer Institute.@@@@1@20@@oe@2-2-2013
20003010@unknown@formal@none@1@S@Dr. Talcott led a team of researchers from the National Cancer Institute and the medical schools of Harvard University and Boston University.@@@@1@22@@oe@2-2-2013
20003011@unknown@formal@none@1@S@The Lorillard spokeswoman said asbestos was used in "very modest amounts" in making paper for the filters in the early 1950s and replaced with a different type of filter in 1956.@@@@1@31@@oe@2-2-2013
20003012@unknown@formal@none@1@S@From 1953 to 1955, 9.8 billion Kent cigarettes with the filters were sold, the company said.@@@@1@16@@oe@2-2-2013
20003013@unknown@formal@none@1@S@Among 33 men who worked closely with the substance, 28 have died -- more than three times the expected number.@@@@1@20@@oe@2-2-2013
20003014@unknown@formal@none@1@S@Four of the five surviving workers have asbestos-related diseases, including three with recently diagnosed cancer.@@@@1@15@@oe@2-2-2013
20003015@unknown@formal@none@1@S@The total of 18 deaths from malignant mesothelioma, lung cancer and asbestosis was far higher than expected, the researchers said.@@@@1@20@@oe@2-2-2013
20003016@unknown@formal@none@1@S@"The morbidity rate is a striking finding among those of us who study asbestos-related diseases," said Dr. Talcott.@@@@1@18@@oe@2-2-2013
20003017@unknown@formal@none@1@S@The percentage of lung cancer deaths among the workers at the West Groton, Mass., paper factory appears to be the highest for any asbestos workers studied in Western industrialized countries, he said.@@@@1@32@@oe@2-2-2013
20003018@unknown@formal@none@1@S@The plant, which is owned by Hollingsworth & Vose Co., was under contract with Lorillard to make the cigarette filters.@@@@1@20@@oe@2-2-2013
20003019@unknown@formal@none@1@S@The finding probably will support those who argue that the U.S. should regulate the class of asbestos including crocidolite more stringently than the common kind of asbestos, chrysotile, found in most schools and other buildings, Dr. Talcott said.@@@@1@38@@oe@2-2-2013
20003020@unknown@formal@none@1@S@The U.S. is one of the few industrialized nations that doesn't have a higher standard of regulation for the smooth, needle-like fibers such as crocidolite that are classified as amphobiles, according to Brooke T. Mossman, a professor of pathlogy at the University of Vermont College of Medicine.@@@@1@47@@oe@2-2-2013
20003021@unknown@formal@none@1@S@More common chrysotile fibers are curly and are more easily rejected by the body, Dr. Mossman explained.@@@@1@17@@oe@2-2-2013
20003022@unknown@formal@none@1@S@In July, the Environmental Protection Agency imposed a gradual ban on virtually all uses of asbestos.@@@@1@16@@oe@2-2-2013
20003023@unknown@formal@none@1@S@By 1997, almost all remaining uses of cancer-causing asbestos will be outlawed.@@@@1@12@@oe@2-2-2013
20003024@unknown@formal@none@1@S@About 160 workers at a factory that made paper for the Kent filters were exposed to asbestos in the 1950s.@@@@1@20@@oe@2-2-2013
20003025@unknown@formal@none@1@S@Areas of the factory were particularly dusty where the crocidolite was used.@@@@1@12@@oe@2-2-2013
20003026@unknown@formal@none@1@S@Workers dumped large burlap sacks of the imported material into a huge bin, poured in cotton and acetate fibers and mechanically mixed the dry fibers in a process used to make filters.@@@@1@32@@oe@2-2-2013
20003027@unknown@formal@none@1@S@Workers described "clouds of blue dust" that hung over parts of the factory, even though exhaust fans ventilated the area.@@@@1@20@@oe@2-2-2013
20003028@unknown@formal@none@1@S@"There's no question that some of those workers and managers contracted asbestos-related diseases," said Darrell Phillips, vice president of human resources for Hollingsworth & Vose.@@@@1@25@@oe@2-2-2013
20003029@unknown@formal@none@1@S@"But you have to recognize that these events took place 35 years ago.@@@@1@13@@oe@2-2-2013
20003030@unknown@formal@none@1@S@It has no bearing on our work force today.@@@@1@9@@oe@2-2-2013
20004001@unknown@formal@none@1@S@Yields on money-market mutual funds continued to slide, amid signs that portfolio managers expect further declines in interest rates.@@@@1@19@@oe@2-2-2013
20004002@unknown@formal@none@1@S@The average seven-day compound yield of the 400 taxable funds tracked by IBC's Money Fund Report eased a fraction of a percentage point to 8.45% from 8.47% for the week ended Tuesday.@@@@1@32@@oe@2-2-2013
20004003@unknown@formal@none@1@S@Compound yields assume reinvestment of dividends and that the current yield continues for a year.@@@@1@15@@oe@2-2-2013
20004004@unknown@formal@none@1@S@Average maturity of the funds' investments lengthened by a day to 41 days, the longest since early August, according to Donoghue's.@@@@1@21@@oe@2-2-2013
20004005@unknown@formal@none@1@S@Longer maturities are thought to indicate declining interest rates because they permit portfolio managers to retain relatively higher rates for a longer period.@@@@1@23@@oe@2-2-2013
20004006@unknown@formal@none@1@S@Shorter maturities are considered a sign of rising rates because portfolio managers can capture higher rates sooner.@@@@1@17@@oe@2-2-2013
20004007@unknown@formal@none@1@S@The average maturity for funds open only to institutions, considered by some to be a stronger indicator because those managers watch the market closely, reached a high point for the year -- 33 days.@@@@1@34@@oe@2-2-2013
20004008@unknown@formal@none@1@S@Nevertheless, said Brenda Malizia Negus, editor of Money Fund Report, yields "may blip up again before they blip down" because of recent rises in short-term interest rates.@@@@1@27@@oe@2-2-2013
20004009@unknown@formal@none@1@S@The yield on six-month Treasury bills sold at Monday's auction, for example, rose to 8.04% from 7.90%.@@@@1@17@@oe@2-2-2013
20004010@unknown@formal@none@1@S@Despite recent declines in yields, investors continue to pour cash into money funds.@@@@1@13@@oe@2-2-2013
20004011@unknown@formal@none@1@S@Assets of the 400 taxable funds grew by $1.5 billion during the latest week, to $352.7 billion.@@@@1@17@@oe@2-2-2013
20004012@unknown@formal@none@1@S@Typically, money-fund yields beat comparable short-term investments because portfolio managers can vary maturities and go after the highest rates.@@@@1@19@@oe@2-2-2013
20004013@unknown@formal@none@1@S@The top money funds are currently yielding well over 9%.@@@@1@10@@oe@2-2-2013
20004014@unknown@formal@none@1@S@Dreyfus World-Wide Dollar, the top-yielding fund, had a seven-day compound yield of 9.37% during the latest week, down from 9.45% a week earlier.@@@@1@23@@oe@2-2-2013
20004015@unknown@formal@none@1@S@It invests heavily in dollar-denominated securities overseas and is currently waiving management fees, which boosts its yield.@@@@1@17@@oe@2-2-2013
20004016@unknown@formal@none@1@S@The average seven-day simple yield of the 400 funds was 8.12%, down from 8.14%.@@@@1@14@@oe@2-2-2013
20004017@unknown@formal@none@1@S@The 30-day simple yield fell to an average 8.19% from 8.22%; the 30-day compound yield slid to an average 8.53% from 8.56%.@@@@1@22@@oe@2-2-2013
20005001@unknown@formal@none@1@S@J.P. Bolduc, vice chairman of W.R. Grace & Co., which holds a 83.4% interest in this energy-services company, was elected a director.@@@@1@22@@oe@2-2-2013
20005002@unknown@formal@none@1@S@He succeeds Terrence D. Daniels, formerly a W.R. Grace vice chairman, who resigned.@@@@1@13@@oe@2-2-2013
20005003@unknown@formal@none@1@S@W.R. Grace holds three of Grace Energy's seven board seats.@@@@1@10@@oe@2-2-2013
20006001@unknown@formal@none@1@S@Pacific First Financial Corp. said shareholders approved its acquisition by Royal Trustco Ltd. of Toronto for $27 a share, or $212 million.@@@@1@22@@oe@2-2-2013
20006002@unknown@formal@none@1@S@The thrift holding company said it expects to obtain regulatory approval and complete the transaction by year-end.@@@@1@17@@oe@2-2-2013
20007001@unknown@formal@none@1@S@McDermott International Inc. said its Babcock & Wilcox unit completed the sale of its Bailey Controls Operations to Finmeccanica S.p.A. for $295 million.@@@@1@23@@oe@2-2-2013
20007002@unknown@formal@none@1@S@Finmeccanica is an Italian state-owned holding company with interests in the mechanical engineering industry.@@@@1@14@@oe@2-2-2013
20007003@unknown@formal@none@1@S@Bailey Controls, based in Wickliffe, Ohio, makes computerized industrial controls systems.@@@@1@11@@oe@2-2-2013
20007004@unknown@formal@none@1@S@It employs 2,700 people and has annual revenue of about $370 million.@@@@1@12@@oe@2-2-2013
20008001@unknown@formal@none@1@S@The federal government suspended sales of U.S. savings bonds because Congress hasn't lifted the ceiling on government debt.@@@@1@18@@oe@2-2-2013
20008002@unknown@formal@none@1@S@Until Congress acts, the government hasn't any authority to issue new debt obligations of any kind, the Treasury said.@@@@1@19@@oe@2-2-2013
20008003@unknown@formal@none@1@S@The government's borrowing authority dropped at midnight Tuesday to $2.80 trillion from $2.87 trillion.@@@@1@14@@oe@2-2-2013
20008004@unknown@formal@none@1@S@Legislation to lift the debt ceiling is ensnarled in the fight over cutting capital-gains taxes.@@@@1@15@@oe@2-2-2013
20008005@unknown@formal@none@1@S@The House has voted to raise the ceiling to $3.1 trillion, but the Senate isn't expected to act until next week at the earliest.@@@@1@24@@oe@2-2-2013
20008006@unknown@formal@none@1@S@The Treasury said the U.S. will default on Nov. 9 if Congress doesn't act by then.@@@@1@16@@oe@2-2-2013
20009001@unknown@formal@none@1@S@Clark J. Vitulli was named senior vice president and general manager of this U.S. sales and marketing arm of Japanese auto maker Mazda Motor Corp.@@@@1@25@@oe@2-2-2013
20009002@unknown@formal@none@1@S@In the new position he will oversee Mazda's U.S. sales, service, parts and marketing operations.@@@@1@15@@oe@2-2-2013
20009003@unknown@formal@none@1@S@Previously, Mr. Vitulli, 43 years old, was general marketing manager of Chrysler Corp.'s Chrysler division.@@@@1@15@@oe@2-2-2013
20009004@unknown@formal@none@1@S@He had been a sales and marketing executive with Chrysler for 20 years.@@@@1@13@@oe@2-2-2013
20010001@unknown@formal@none@1@S@When it's time for their biannual powwow, the nation's manufacturing titans typically jet off to the sunny confines of resort towns like Boca Raton and Hot Springs.@@@@1@27@@oe@2-2-2013
20010002@unknown@formal@none@1@S@Not this year.@@@@1@3@@oe@2-2-2013
20010003@unknown@formal@none@1@S@The National Association of Manufacturers settled on the Hoosier capital of Indianapolis for its fall board meeting.@@@@1@17@@oe@2-2-2013
20010004@unknown@formal@none@1@S@And the city decided to treat its guests more like royalty or rock stars than factory owners.@@@@1@17@@oe@2-2-2013
20010005@unknown@formal@none@1@S@The idea, of course: to prove to 125 corporate decision makers that the buckle on the Rust Belt isn't so rusty after all, that it's a good place for a company to expand.@@@@1@33@@oe@2-2-2013
20010006@unknown@formal@none@1@S@On the receiving end of the message were officials from giants like Du Pont and Maytag, along with lesser knowns like Trojan Steel and the Valley Queen Cheese Factory.@@@@1@29@@oe@2-2-2013
20010007@unknown@formal@none@1@S@For starters, the executives joined Mayor William H. Hudnut III for an evening of the Indianapolis Symphony Orchestra and a guest pianist-comedian Victor Borge.@@@@1@24@@oe@2-2-2013
20010008@unknown@formal@none@1@S@Champagne and dessert followed.@@@@1@4@@oe@2-2-2013
20010009@unknown@formal@none@1@S@The next morning, with a police escort, busloads of executives and their wives raced to the Indianapolis Motor Speedway, unimpeded by traffic or red lights.@@@@1@25@@oe@2-2-2013
20010010@unknown@formal@none@1@S@The governor couldn't make it, so the lieutenant governor welcomed the special guests.@@@@1@13@@oe@2-2-2013
20010011@unknown@formal@none@1@S@A buffet breakfast was held in the museum, where food and drinks are banned to everyday visitors.@@@@1@17@@oe@2-2-2013
20010012@unknown@formal@none@1@S@Then, in the guests' honor, the speedway hauled out four drivers, crews and even the official Indianapolis 500 announcer for a 10-lap exhibition race.@@@@1@24@@oe@2-2-2013
20010013@unknown@formal@none@1@S@After the race, Fortune 500 executives drooled like schoolboys over the cars and drivers.@@@@1@14@@oe@2-2-2013
20010014@unknown@formal@none@1@S@No dummies, the drivers pointed out they still had space on their machines for another sponsor's name or two.@@@@1@19@@oe@2-2-2013
20010015@unknown@formal@none@1@S@Back downtown, the execs squeezed in a few meetings at the hotel before boarding the buses again.@@@@1@17@@oe@2-2-2013
20010016@unknown@formal@none@1@S@This time, it was for dinner and dancing -- a block away.@@@@1@12@@oe@2-2-2013
20010017@unknown@formal@none@1@S@Under the stars and moons of the renovated Indiana Roof ballroom, nine of the hottest chefs in town fed them Indiana duckling mousseline, lobster consomme, veal mignon and chocolate terrine with a raspberry sauce.@@@@1@34@@oe@2-2-2013
20010018@unknown@formal@none@1@S@Knowing a tasty -- and free -- meal when they eat one, the executives gave the chefs a standing ovation.@@@@1@20@@oe@2-2-2013
20010019@unknown@formal@none@1@S@More than a few CEOs say the red-carpet treatment tempts them to return to a heartland city for future meetings.@@@@1@20@@oe@2-2-2013
20010020@unknown@formal@none@1@S@But for now, they're looking forward to their winter meeting -- Boca in February.@@@@1@14@@oe@2-2-2013
20011001@unknown@formal@none@1@S@South Korea registered a trade deficit of $101 million in October, reflecting the country's economic sluggishness, according to government figures released Wednesday.@@@@1@22@@oe@2-2-2013
20011002@unknown@formal@none@1@S@Preliminary tallies by the Trade and Industry Ministry showed another trade deficit in October, the fifth monthly setback this year, casting a cloud on South Korea's export-oriented economy.@@@@1@28@@oe@2-2-2013
20011003@unknown@formal@none@1@S@Exports in October stood at $5.29 billion, a mere 0.7% increase from a year earlier, while imports increased sharply to $5.39 billion, up 20% from last October.@@@@1@27@@oe@2-2-2013
20011004@unknown@formal@none@1@S@South Korea's economic boom, which began in 1986, stopped this year because of prolonged labor disputes, trade conflicts and sluggish exports.@@@@1@21@@oe@2-2-2013
20011005@unknown@formal@none@1@S@Government officials said exports at the end of the year would remain under a government target of $68 billion.@@@@1@19@@oe@2-2-2013
20011006@unknown@formal@none@1@S@Despite the gloomy forecast, South Korea has recorded a trade surplus of $71 million so far this year.@@@@1@18@@oe@2-2-2013
20011007@unknown@formal@none@1@S@From January to October, the nation's accumulated exports increased 4% from the same period last year to $50.45 billion.@@@@1@19@@oe@2-2-2013
20011008@unknown@formal@none@1@S@Imports were at $50.38 billion, up 19%.@@@@1@7@@oe@2-2-2013
20012001@unknown@formal@none@1@S@Newsweek, trying to keep pace with rival Time magazine, announced new advertising rates for 1990 and said it will introduce a new incentive plan for advertisers.@@@@1@26@@oe@2-2-2013
20012002@unknown@formal@none@1@S@The new ad plan from Newsweek, a unit of the Washington Post Co., is the second incentive plan the magazine has offered advertisers in three years.@@@@1@26@@oe@2-2-2013
20012003@unknown@formal@none@1@S@Plans that give advertisers discounts for maintaining or increasing ad spending have become permanent fixtures at the news weeklies and underscore the fierce competition between Newsweek, Time Warner Inc.'s Time magazine, and Mortimer B. Zuckerman's U.S. News & World Report.@@@@1@40@@oe@2-2-2013
20012004@unknown@formal@none@1@S@Alan Spoon, recently named Newsweek president, said Newsweek's ad rates would increase 5% in January.@@@@1@15@@oe@2-2-2013
20012005@unknown@formal@none@1@S@A full, four-color page in Newsweek will cost $100,980.@@@@1@9@@oe@2-2-2013
20012006@unknown@formal@none@1@S@In mid-October, Time magazine lowered its guaranteed circulation rate base for 1990 while not increasing ad page rates; with a lower circulation base, Time's ad rate will be effectively 7.5% higher per subscriber; a full page in Time costs about $120,000.@@@@1@41@@oe@2-2-2013
20012007@unknown@formal@none@1@S@U.S. News has yet to announce its 1990 ad rates.@@@@1@10@@oe@2-2-2013
20012008@unknown@formal@none@1@S@Newsweek said it will introduce the Circulation Credit Plan, which awards space credits to advertisers on "renewal advertising."@@@@1@18@@oe@2-2-2013
20012009@unknown@formal@none@1@S@The magazine will reward with "page bonuses" advertisers who in 1990 meet or exceed their 1989 spending, as long as they spent $325,000 in 1989 and $340,000 in 1990.@@@@1@29@@oe@2-2-2013
20012010@unknown@formal@none@1@S@Mr. Spoon said the plan is not an attempt to shore up a decline in ad pages in the first nine months of 1989; Newsweek's ad pages totaled 1,620, a drop of 3.2% from last year, according to Publishers Information Bureau.@@@@1@41@@oe@2-2-2013
20012011@unknown@formal@none@1@S@"What matters is what advertisers are paying per page, and in that department we are doing fine this fall," said Mr. Spoon.@@@@1@22@@oe@2-2-2013
20012012@unknown@formal@none@1@S@Both Newsweek and U.S. News have been gaining circulation in recent years without heavy use of electronic giveaways to subscribers, such as telephones or watches.@@@@1@25@@oe@2-2-2013
20012013@unknown@formal@none@1@S@However, none of the big three weeklies recorded circulation gains recently.@@@@1@11@@oe@2-2-2013
20012014@unknown@formal@none@1@S@According to Audit Bureau of Circulations, Time, the largest newsweekly, had average circulation of 4,393,237, a decrease of 7.3%.@@@@1@19@@oe@2-2-2013
20012015@unknown@formal@none@1@S@Newsweek's circulation for the first six months of 1989 was 3,288,453, flat from the same period last year.@@@@1@18@@oe@2-2-2013
20012016@unknown@formal@none@1@S@U.S. News' circulation in the same time was 2,303,328, down 2.6%.@@@@1@11@@oe@2-2-2013
20013001@unknown@formal@none@1@S@New England Electric System bowed out of the bidding for Public Service Co. of New Hampshire, saying that the risks were too high and the potential payoff too far in the future to justify a higher offer.@@@@1@37@@oe@2-2-2013
20013002@unknown@formal@none@1@S@The move leaves United Illuminating Co. and Northeast Utilities as the remaining outside bidders for PS of New Hampshire, which also has proposed an internal reorganization plan in Chapter 11 bankruptcy proceedings under which it would remain an independent company.@@@@1@40@@oe@2-2-2013
20013003@unknown@formal@none@1@S@New England Electric, based in Westborough, Mass., had offered $2 billion to acquire PS of New Hampshire, well below the $2.29 billion value United Illuminating places on its bid and the $2.25 billion Northeast says its bid is worth.@@@@1@39@@oe@2-2-2013
20013004@unknown@formal@none@1@S@United Illuminating is based in New Haven, Conn., and Northeast is based in Hartford, Conn.@@@@1@15@@oe@2-2-2013
20013005@unknown@formal@none@1@S@PS of New Hampshire, Manchester, N.H., values its internal reorganization plan at about $2.2 billion.@@@@1@15@@oe@2-2-2013
20013006@unknown@formal@none@1@S@John Rowe, president and chief executive officer of New England Electric, said the company's return on equity could suffer if it made a higher bid and its forecasts related to PS of New Hampshire -- such as growth in electricity demand and improved operating efficiencies -- didn't come true.@@@@1@49@@oe@2-2-2013
20013007@unknown@formal@none@1@S@"When we evaluated raising our bid, the risks seemed substantial and persistent over the next five years, and the rewards seemed a long way out.@@@@1@25@@oe@2-2-2013
20013008@unknown@formal@none@1@S@That got hard to take," he added.@@@@1@7@@oe@2-2-2013
20013009@unknown@formal@none@1@S@Mr. Rowe also noted that political concerns also worried New England Electric.@@@@1@12@@oe@2-2-2013
20013010@unknown@formal@none@1@S@No matter who owns PS of New Hampshire, after it emerges from bankruptcy proceedings its rates will be among the highest in the nation, he said.@@@@1@26@@oe@2-2-2013
20013011@unknown@formal@none@1@S@"That attracts attention . . .@@@@1@6@@oe@2-2-2013
20013012@unknown@formal@none@1@S@it was just another one of the risk factors" that led to the company's decision to withdraw from the bidding, he added.@@@@1@22@@oe@2-2-2013
20013013@unknown@formal@none@1@S@Wilbur Ross Jr. of Rothschild Inc., the financial adviser to the troubled company's equity holders, said the withdrawal of New England Electric might speed up the reorganization process.@@@@1@28@@oe@2-2-2013
20013014@unknown@formal@none@1@S@The fact that New England proposed lower rate increases -- 4.8% over seven years against around 5.5% boosts proposed by the other two outside bidders -- complicated negotiations with state officials, Mr. Ross asserted.@@@@1@34@@oe@2-2-2013
20013015@unknown@formal@none@1@S@"Now the field is less cluttered," he added.@@@@1@8@@oe@2-2-2013
20013016@unknown@formal@none@1@S@Separately, the Federal Energy Regulatory Commission turned down for now a request by Northeast seeking approval of its possible purchase of PS of New Hampshire.@@@@1@25@@oe@2-2-2013
20013017@unknown@formal@none@1@S@Northeast said it would refile its request and still hopes for an expedited review by the FERC so that it could complete the purchase by next summer if its bid is the one approved by the bankruptcy court.@@@@1@38@@oe@2-2-2013
20013018@unknown@formal@none@1@S@PS of New Hampshire shares closed yesterday at $3.75, off 25 cents, in New York Stock Exchange composite trading.@@@@1@19@@oe@2-2-2013
20014001@unknown@formal@none@1@S@Norman Ricken, 52 years old and former president and chief operating officer of Toys "R" Us Inc., and Frederick Deane Jr., 63, chairman of Signet Banking Corp., were elected directors of this consumer electronics and appliances retailing chain.@@@@1@38@@oe@2-2-2013
20014002@unknown@formal@none@1@S@They succeed Daniel M. Rexinger, retired Circuit City executive vice president, and Robert R. Glauber, U.S. Treasury undersecretary, on the 12-member board.@@@@1@22@@oe@2-2-2013
20015001@unknown@formal@none@1@S@Commonwealth Edison Co. was ordered to refund about $250 million to its current and former ratepayers for illegal rates collected for cost overruns on a nuclear power plant.@@@@1@28@@oe@2-2-2013
20015002@unknown@formal@none@1@S@The refund was about $55 million more than previously ordered by the Illinois Commerce Commission and trade groups said it may be the largest ever required of a state or local utility.@@@@1@32@@oe@2-2-2013
20015003@unknown@formal@none@1@S@State court Judge Richard Curry ordered Edison to make average refunds of about $45 to $50 each to Edison customers who have received electric service since April 1986, including about two million customers who have moved during that period.@@@@1@39@@oe@2-2-2013
20015004@unknown@formal@none@1@S@Judge Curry ordered the refunds to begin Feb. 1 and said that he wouldn't entertain any appeals or other attempts to block his order by Commonwealth Edison.@@@@1@27@@oe@2-2-2013
20015005@unknown@formal@none@1@S@"The refund pool . . . may not be held hostage through another round of appeals," Judge Curry said.@@@@1@19@@oe@2-2-2013
20015006@unknown@formal@none@1@S@Commonwealth Edison said it is already appealing the underlying commission order and is considering appealing Judge Curry's order.@@@@1@18@@oe@2-2-2013
20015007@unknown@formal@none@1@S@The exact amount of the refund will be determined next year based on actual collections made until Dec. 31 of this year.@@@@1@22@@oe@2-2-2013
20015008@unknown@formal@none@1@S@Commonwealth Edison said the ruling could force it to slash its 1989 earnings by $1.55 a share.@@@@1@17@@oe@2-2-2013
20015009@unknown@formal@none@1@S@For 1988, Commonwealth Edison reported earnings of $737.5 million, or $3.01 a share.@@@@1@13@@oe@2-2-2013
20015010@unknown@formal@none@1@S@A Commonwealth Edison spokesman said that tracking down the two million customers whose addresses have changed during the past 3 1/2 years would be "an administrative nightmare."@@@@1@27@@oe@2-2-2013
20015011@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Commonwealth Edison closed at $38.375, down 12.5 cents.@@@@1@16@@oe@2-2-2013
20015012@unknown@formal@none@1@S@The $2.5 billion Byron 1 plant near Rockford, Ill., was completed in 1985.@@@@1@13@@oe@2-2-2013
20015013@unknown@formal@none@1@S@In a disputed 1985 ruling, the Commerce Commission said Commonwealth Edison could raise its electricity rates by $49 million to pay for the plant.@@@@1@24@@oe@2-2-2013
20015014@unknown@formal@none@1@S@But state courts upheld a challenge by consumer groups to the commission's rate increase and found the rates illegal.@@@@1@19@@oe@2-2-2013
20015015@unknown@formal@none@1@S@The Illinois Supreme Court ordered the commission to audit Commonwealth Edison's construction expenses and refund any unreasonable expenses.@@@@1@18@@oe@2-2-2013
20015016@unknown@formal@none@1@S@The utility has been collecting for the plant's construction cost from its 3.1 million customers subject to a refund since 1986.@@@@1@21@@oe@2-2-2013
20015017@unknown@formal@none@1@S@In August, the commission ruled that between $190 million and $195 million of the plant's construction cost was unreasonable and should be refunded, plus interest.@@@@1@25@@oe@2-2-2013
20015018@unknown@formal@none@1@S@In his ruling, Judge Curry added an additional $55 million to the commission's calculations.@@@@1@14@@oe@2-2-2013
20015019@unknown@formal@none@1@S@Last month, Judge Curry set the interest rate on the refund at 9%.@@@@1@13@@oe@2-2-2013
20015020@unknown@formal@none@1@S@Commonwealth Edison now faces an additional court-ordered refund on its summer/winter rate differential collections that the Illinois Appellate Court has estimated at $140 million.@@@@1@24@@oe@2-2-2013
20015021@unknown@formal@none@1@S@And consumer groups hope that Judge Curry's Byron 1 order may set a precedent for a second nuclear rate case involving Commonwealth Edison's Braidwood 2 plant.@@@@1@26@@oe@2-2-2013
20015022@unknown@formal@none@1@S@Commonwealth Edison is seeking about $245 million in rate increases to pay for Braidwood 2.@@@@1@15@@oe@2-2-2013
20015023@unknown@formal@none@1@S@The commission is expected to rule on the Braidwood 2 case by year end.@@@@1@14@@oe@2-2-2013
20015024@unknown@formal@none@1@S@Last year Commonwealth Edison had to refund $72.7 million for poor performance of its LaSalle I nuclear plant.@@@@1@18@@oe@2-2-2013
20016001@unknown@formal@none@1@S@Japan's domestic sales of cars, trucks and buses in October rose 18% from a year earlier to 500,004 units, a record for the month, the Japan Automobile Dealers' Association said.@@@@1@30@@oe@2-2-2013
20016002@unknown@formal@none@1@S@The strong growth followed year-to-year increases of 21% in August and 12% in September.@@@@1@14@@oe@2-2-2013
20016003@unknown@formal@none@1@S@The monthly sales have been setting records every month since March.@@@@1@11@@oe@2-2-2013
20016004@unknown@formal@none@1@S@October sales, compared with the previous month, inched down 0.4%.@@@@1@10@@oe@2-2-2013
20016005@unknown@formal@none@1@S@Sales of passenger cars grew 22% from a year earlier to 361,376 units.@@@@1@13@@oe@2-2-2013
20016006@unknown@formal@none@1@S@Sales of medium-sized cars, which benefited from price reductions arising from introduction of the consumption tax, more than doubled to 30,841 units from 13,056 in October 1988.@@@@1@27@@oe@2-2-2013
20017001@unknown@formal@none@1@S@Texas Instruments Japan Ltd., a unit of Texas Instruments Inc., said it opened a plant in South Korea to manufacture control devices.@@@@1@22@@oe@2-2-2013
20017002@unknown@formal@none@1@S@The new plant, located in Chinchon about 60 miles from Seoul, will help meet increasing and diversifying demand for control products in South Korea, the company said.@@@@1@27@@oe@2-2-2013
20017003@unknown@formal@none@1@S@The plant will produce control devices used in motor vehicles and household appliances.@@@@1@13@@oe@2-2-2013
20018001@unknown@formal@none@1@S@The survival of spinoff Cray Computer Corp. as a fledgling in the supercomputer business appears to depend heavily on the creativity -- and longevity -- of its chairman and chief designer, Seymour Cray.@@@@1@33@@oe@2-2-2013
20018002@unknown@formal@none@1@S@Not only is development of the new company's initial machine tied directly to Mr. Cray, so is its balance sheet.@@@@1@20@@oe@2-2-2013
20018003@unknown@formal@none@1@S@Documents filed with the Securities and Exchange Commission on the pending spinoff disclosed that Cray Research Inc. will withdraw the almost $100 million in financing it is providing the new firm if Mr. Cray leaves or if the product-design project he heads is scrapped.@@@@1@44@@oe@2-2-2013
20018004@unknown@formal@none@1@S@The documents also said that although the 64-year-old Mr. Cray has been working on the project for more than six years, the Cray-3 machine is at least another year away from a fully operational prototype.@@@@1@35@@oe@2-2-2013
20018005@unknown@formal@none@1@S@Moreover, there have been no orders for the Cray-3 so far, though the company says it is talking with several prospects.@@@@1@21@@oe@2-2-2013
20018006@unknown@formal@none@1@S@While many of the risks were anticipated when Minneapolis-based Cray Research first announced the spinoff in May, the strings it attached to the financing hadn't been made public until yesterday.@@@@1@30@@oe@2-2-2013
20018007@unknown@formal@none@1@S@"We didn't have much of a choice," Cray Computer's chief financial officer, Gregory Barnum, said in an interview.@@@@1@18@@oe@2-2-2013
20018008@unknown@formal@none@1@S@"The theory is that Seymour is the chief designer of the Cray-3, and without him it could not be completed.@@@@1@20@@oe@2-2-2013
20018009@unknown@formal@none@1@S@Cray Research did not want to fund a project that did not include Seymour."@@@@1@14@@oe@2-2-2013
20018010@unknown@formal@none@1@S@The documents also said that Cray Computer anticipates needing perhaps another $120 million in financing beginning next September.@@@@1@18@@oe@2-2-2013
20018011@unknown@formal@none@1@S@But Mr. Barnum called that "a worst-case" scenario.@@@@1@8@@oe@2-2-2013
20018012@unknown@formal@none@1@S@The filing on the details of the spinoff caused Cray Research stock to jump $2.875 yesterday to close at $38 in New York Stock Exchange composite trading.@@@@1@27@@oe@2-2-2013
20018013@unknown@formal@none@1@S@Analysts noted yesterday that Cray Research's decision to link its $98.3 million promissory note to Mr. Cray's presence will complicate a valuation of the new company.@@@@1@26@@oe@2-2-2013
20018014@unknown@formal@none@1@S@"It has to be considered as an additional risk for the investor," said Gary P. Smaby of Smaby Group Inc., Minneapolis.@@@@1@21@@oe@2-2-2013
20018015@unknown@formal@none@1@S@"Cray Computer will be a concept stock," he said.@@@@1@9@@oe@2-2-2013
20018016@unknown@formal@none@1@S@"You either believe Seymour can do it again or you don't."@@@@1@11@@oe@2-2-2013
20018017@unknown@formal@none@1@S@Besides the designer's age, other risk factors for Mr. Cray's new company include the Cray-3's tricky, unproven chip technology.@@@@1@19@@oe@2-2-2013
20018018@unknown@formal@none@1@S@The SEC documents describe those chips, which are made of gallium arsenide, as being so fragile and minute they will require special robotic handling equipment.@@@@1@25@@oe@2-2-2013
20018019@unknown@formal@none@1@S@In addition, the Cray-3 will contain 16 processors -- twice as many as the largest current supercomputer.@@@@1@17@@oe@2-2-2013
20018020@unknown@formal@none@1@S@Cray Computer also will face intense competition, not only from Cray Research, which has about 60% of the world-wide supercomputer market and which is expected to roll out the C-90 machine, a direct competitor with the Cray-3, in 1991.@@@@1@39@@oe@2-2-2013
20018021@unknown@formal@none@1@S@The spinoff also will compete with International Business Machines Corp. and Japan's Big Three -- Hitachi Ltd., NEC Corp. and Fujitsu Ltd.@@@@1@22@@oe@2-2-2013
20018022@unknown@formal@none@1@S@The new company said it believes there are fewer than 100 potential customers for supercomputers priced between $15 million and $30 million -- presumably the Cray-3 price range.@@@@1@28@@oe@2-2-2013
20018023@unknown@formal@none@1@S@Under terms of the spinoff, Cray Research stockholders are to receive one Cray Computer share for every two Cray Research shares they own in a distribution expected to occur in about two weeks.@@@@1@33@@oe@2-2-2013
20018024@unknown@formal@none@1@S@No price for the new shares has been set.@@@@1@9@@oe@2-2-2013
20018025@unknown@formal@none@1@S@Instead, the companies will leave it up to the marketplace to decide.@@@@1@12@@oe@2-2-2013
20018026@unknown@formal@none@1@S@Cray Computer has applied to trade on Nasdaq.@@@@1@8@@oe@2-2-2013
20018027@unknown@formal@none@1@S@Analysts calculate Cray Computer's initial book value at about $4.75 a share.@@@@1@12@@oe@2-2-2013
20018028@unknown@formal@none@1@S@Along with the note, Cray Research is transferring about $53 million in assets, primarily those related to the Cray-3 development, which has been a drain on Cray Research's earnings.@@@@1@29@@oe@2-2-2013
20018029@unknown@formal@none@1@S@Pro-forma balance sheets clearly show why Cray Research favored the spinoff.@@@@1@11@@oe@2-2-2013
20018030@unknown@formal@none@1@S@Without the Cray-3 research and development expenses, the company would have been able to report a profit of $19.3 million for the first half of 1989 rather than the $5.9 million it posted.@@@@1@33@@oe@2-2-2013
20018031@unknown@formal@none@1@S@On the other hand, had it existed then, Cray Computer would have incurred a $20.5 million loss.@@@@1@17@@oe@2-2-2013
20018032@unknown@formal@none@1@S@Mr. Cray, who couldn't be reached for comment, will work for the new Colorado Springs, Colo., company as an independent contractor -- the arrangement he had with Cray Research.@@@@1@29@@oe@2-2-2013
20018033@unknown@formal@none@1@S@Regarded as the father of the supercomputer, Mr. Cray was paid $600,000 at Cray Research last year.@@@@1@17@@oe@2-2-2013
20018034@unknown@formal@none@1@S@At Cray Computer, he will be paid $240,000.@@@@1@8@@oe@2-2-2013
20018035@unknown@formal@none@1@S@Besides Messrs. Cray and Barnum, other senior management at the company includes Neil Davenport, 47, president and chief executive officer; Joseph M. Blanchard, 37, vice president, engineering; Malcolm A. Hammerton, 40, vice president, software; and Douglas R. Wheeland, 45, vice president, hardware.@@@@1@42@@oe@2-2-2013
20018036@unknown@formal@none@1@S@All came from Cray Research.@@@@1@5@@oe@2-2-2013
20018037@unknown@formal@none@1@S@Cray Computer, which currently employs 241 people, said it expects a work force of 450 by the end of 1990.@@@@1@20@@oe@2-2-2013
20019001@unknown@formal@none@1@S@John R. Stevens, 49 years old, was named senior executive vice president and chief operating officer, both new positions.@@@@1@19@@oe@2-2-2013
20019002@unknown@formal@none@1@S@He will continue to report to Donald Pardus, president and chief executive officer.@@@@1@13@@oe@2-2-2013
20019003@unknown@formal@none@1@S@Mr. Stevens was executive vice president of this electric-utility holding company.@@@@1@11@@oe@2-2-2013
20019004@unknown@formal@none@1@S@Arthur A. Hatch, 59, was named executive vice president of the company.@@@@1@12@@oe@2-2-2013
20019005@unknown@formal@none@1@S@He was previously president of the company's Eastern Edison Co. unit.@@@@1@11@@oe@2-2-2013
20019006@unknown@formal@none@1@S@John D. Carney, 45, was named to succeed Mr. Hatch as president of Eastern Edison.@@@@1@15@@oe@2-2-2013
20019007@unknown@formal@none@1@S@Previously he was vice president of Eastern Edison.@@@@1@8@@oe@2-2-2013
20019008@unknown@formal@none@1@S@Robert P. Tassinari, 63, was named senior vice president of Eastern Utilities.@@@@1@12@@oe@2-2-2013
20019009@unknown@formal@none@1@S@He was previously vice president.@@@@1@5@@oe@2-2-2013
20020001@unknown@formal@none@1@S@The U.S., claiming some success in its trade diplomacy, removed South Korea, Taiwan and Saudi Arabia from a list of countries it is closely watching for allegedly failing to honor U.S. patents, copyrights and other intellectual-property rights.@@@@1@37@@oe@2-2-2013
20020002@unknown@formal@none@1@S@However, five other countries -- China, Thailand, India, Brazil and Mexico -- will remain on that so-called priority watch list as a result of an interim review, U.S. Trade Representative Carla Hills announced.@@@@1@33@@oe@2-2-2013
20020003@unknown@formal@none@1@S@Under the new U.S. trade law, those countries could face accelerated unfair-trade investigations and stiff trade sanctions if they don't improve their protection of intellectual property by next spring.@@@@1@29@@oe@2-2-2013
20020004@unknown@formal@none@1@S@Mrs. Hills said many of the 25 countries that she placed under varying degrees of scrutiny have made "genuine progress" on this touchy issue.@@@@1@24@@oe@2-2-2013
20020005@unknown@formal@none@1@S@She said there is "growing realization" around the world that denial of intellectual-property rights harms all trading nations, and particularly the "creativity and inventiveness of an {offending} country's own citizens."@@@@1@30@@oe@2-2-2013
20020006@unknown@formal@none@1@S@U.S. trade negotiators argue that countries with inadequate protections for intellectual-property rights could be hurting themselves by discouraging their own scientists and authors and by deterring U.S. high-technology firms from investing or marketing their best products there.@@@@1@37@@oe@2-2-2013
20020007@unknown@formal@none@1@S@Mrs. Hills lauded South Korea for creating an intellectual-property task force and special enforcement teams of police officers and prosecutors trained to pursue movie and book pirates.@@@@1@27@@oe@2-2-2013
20020008@unknown@formal@none@1@S@Seoul also has instituted effective search-and-seizure procedures to aid these teams, she said.@@@@1@13@@oe@2-2-2013
20020009@unknown@formal@none@1@S@Taiwan has improved its standing with the U.S. by initialing a bilateral copyright agreement, amending its trademark law and introducing legislation to protect foreign movie producers from unauthorized showings of their films.@@@@1@32@@oe@2-2-2013
20020010@unknown@formal@none@1@S@That measure could compel Taipei's growing number of small video-viewing parlors to pay movie producers for showing their films.@@@@1@19@@oe@2-2-2013
20020011@unknown@formal@none@1@S@Saudi Arabia, for its part, has vowed to enact a copyright law compatible with international standards and to apply the law to computer software as well as to literary works, Mrs. Hills said.@@@@1@33@@oe@2-2-2013
20020012@unknown@formal@none@1@S@These three countries aren't completely off the hook, though.@@@@1@9@@oe@2-2-2013
20020013@unknown@formal@none@1@S@They will remain on a lower-priority list that includes 17 other countries.@@@@1@12@@oe@2-2-2013
20020014@unknown@formal@none@1@S@Those countries -- including Japan, Italy, Canada, Greece and Spain -- are still of some concern to the U.S. but are deemed to pose less-serious problems for American patent and copyright owners than those on the "priority" list.@@@@1@38@@oe@2-2-2013
20020015@unknown@formal@none@1@S@Gary Hoffman, a Washington lawyer specializing in intellectual-property cases, said the threat of U.S. retaliation, combined with a growing recognition that protecting intellectual property is in a country's own interest, prompted the improvements made by South Korea, Taiwan and Saudi Arabia.@@@@1@41@@oe@2-2-2013
20020016@unknown@formal@none@1@S@"What this tells us is that U.S. trade law is working," he said.@@@@1@13@@oe@2-2-2013
20020017@unknown@formal@none@1@S@He said Mexico could be one of the next countries to be removed from the priority list because of its efforts to craft a new patent law.@@@@1@27@@oe@2-2-2013
20020018@unknown@formal@none@1@S@Mrs. Hills said that the U.S. is still concerned about "disturbing developments in Turkey and continuing slow progress in Malaysia."@@@@1@20@@oe@2-2-2013
20020019@unknown@formal@none@1@S@She didn't elaborate, although earlier U.S. trade reports have complained of videocassette piracy in Malaysia and disregard for U.S. pharmaceutical patents in Turkey.@@@@1@23@@oe@2-2-2013
20020020@unknown@formal@none@1@S@The 1988 trade act requires Mrs. Hills to issue another review of the performance of these countries by April 30.@@@@1@20@@oe@2-2-2013
20020021@unknown@formal@none@1@S@So far, Mrs. Hills hasn't deemed any cases bad enough to merit an accelerated investigation under the so-called special 301 provision of the act.@@@@1@24@@oe@2-2-2013
20021001@unknown@formal@none@1@S@Argentina said it will ask creditor banks to halve its foreign debt of $64 billion -- the third-highest in the developing world.@@@@1@22@@oe@2-2-2013
20021002@unknown@formal@none@1@S@The declaration by Economy Minister Nestor Rapanelli is believed to be the first time such an action has been called for by an Argentine official of such stature.@@@@1@28@@oe@2-2-2013
20021003@unknown@formal@none@1@S@The Latin American nation has paid very little on its debt since early last year.@@@@1@15@@oe@2-2-2013
20021004@unknown@formal@none@1@S@"Argentina aspires to reach a reduction of 50% in the value of its external debt," Mr. Rapanelli said through his spokesman, Miguel Alurralde.@@@@1@23@@oe@2-2-2013
20021005@unknown@formal@none@1@S@Mr. Rapanelli met in August with U.S. Assistant Treasury Secretary David Mulford.@@@@1@12@@oe@2-2-2013
20021006@unknown@formal@none@1@S@Argentine negotiator Carlos Carballo was in Washington and New York this week to meet with banks.@@@@1@16@@oe@2-2-2013
20021007@unknown@formal@none@1@S@Mr. Rapanelli recently has said the government of President Carlos Menem, who took office July 8, feels a significant reduction of principal and interest is the only way the debt problem may be solved.@@@@1@34@@oe@2-2-2013
20021008@unknown@formal@none@1@S@But he has not said before that the country wants half the debt forgiven.@@@@1@14@@oe@2-2-2013
20022001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
20022002@unknown@formal@none@1@S@THREE COMPUTERS THAT CHANGED the face of personal computing were launched in 1977.@@@@1@13@@oe@2-2-2013
20022003@unknown@formal@none@1@S@That year the Apple II, Commodore Pet and Tandy TRS-80 came to market.@@@@1@13@@oe@2-2-2013
20022004@unknown@formal@none@1@S@The computers were crude by today's standards.@@@@1@7@@oe@2-2-2013
20022005@unknown@formal@none@1@S@Apple II owners, for example, had to use their television sets as screens and stored data on audiocassettes.@@@@1@18@@oe@2-2-2013
20022006@unknown@formal@none@1@S@But Apple II was a major advance from Apple I, which was built in a garage by Stephen Wozniak and Steven Jobs for hobbyists such as the Homebrew Computer Club.@@@@1@30@@oe@2-2-2013
20022007@unknown@formal@none@1@S@In addition, the Apple II was an affordable $1,298.@@@@1@9@@oe@2-2-2013
20022008@unknown@formal@none@1@S@Crude as they were, these early PCs triggered explosive product development in desktop models for the home and office.@@@@1@19@@oe@2-2-2013
20022009@unknown@formal@none@1@S@Big mainframe computers for business had been around for years.@@@@1@10@@oe@2-2-2013
20022010@unknown@formal@none@1@S@But the new 1977 PCs -- unlike earlier built-from-kit types such as the Altair, Sol and IMSAI -- had keyboards and could store about two pages of data in their memories.@@@@1@31@@oe@2-2-2013
20022011@unknown@formal@none@1@S@Current PCs are more than 50 times faster and have memory capacity 500 times greater than their 1977 counterparts.@@@@1@19@@oe@2-2-2013
20022012@unknown@formal@none@1@S@There were many pioneer PC contributors.@@@@1@6@@oe@2-2-2013
20022013@unknown@formal@none@1@S@William Gates and Paul Allen in 1975 developed an early language-housekeeper system for PCs, and Gates became an industry billionaire six years after IBM adapted one of these versions in 1981.@@@@1@31@@oe@2-2-2013
20022014@unknown@formal@none@1@S@Alan F. Shugart, currently chairman of Seagate Technology, led the team that developed the disk drives for PCs.@@@@1@18@@oe@2-2-2013
20022015@unknown@formal@none@1@S@Dennis Hayes and Dale Heatherington, two Atlanta engineers, were co-developers of the internal modems that allow PCs to share data via the telephone.@@@@1@23@@oe@2-2-2013
20022016@unknown@formal@none@1@S@IBM, the world leader in computers, didn't offer its first PC until August 1981 as many other companies entered the market.@@@@1@21@@oe@2-2-2013
20022017@unknown@formal@none@1@S@Today, PC shipments annually total some $38.3 billion world-wide.@@@@1@9@@oe@2-2-2013
20023001@unknown@formal@none@1@S@F.H. Faulding & Co., an Australian pharmaceuticals company, said its Moleculon Inc. affiliate acquired Kalipharma Inc. for $23 million.@@@@1@19@@oe@2-2-2013
20023002@unknown@formal@none@1@S@Kalipharma is a New Jersey-based pharmaceuticals concern that sells products under the Purepac label.@@@@1@14@@oe@2-2-2013
20023003@unknown@formal@none@1@S@Faulding said it owns 33% of Moleculon's voting stock and has an agreement to acquire an additional 19%.@@@@1@18@@oe@2-2-2013
20023004@unknown@formal@none@1@S@That stake, together with its convertible preferred stock holdings, gives Faulding the right to increase its interest to 70% of Moleculon's voting stock.@@@@1@23@@oe@2-2-2013
20024001@unknown@formal@none@1@S@Oil production from Australia's Bass Strait fields will be raised by 11,000 barrels a day to about 321,000 barrels with the launch of the Whiting field, the first of five small fields scheduled to be brought into production before the end of 1990.@@@@1@43@@oe@2-2-2013
20024002@unknown@formal@none@1@S@Esso Australia Ltd., a unit of New York-based Exxon Corp., and Broken Hill Pty. operate the fields in a joint venture.@@@@1@21@@oe@2-2-2013
20024003@unknown@formal@none@1@S@Esso said the Whiting field started production Tuesday.@@@@1@8@@oe@2-2-2013
20024004@unknown@formal@none@1@S@Output will be gradually increased until it reaches about 11,000 barrels a day.@@@@1@13@@oe@2-2-2013
20024005@unknown@formal@none@1@S@The field has reserves of 21 million barrels.@@@@1@8@@oe@2-2-2013
20024006@unknown@formal@none@1@S@Reserves for the five new fields total 50 million barrels.@@@@1@10@@oe@2-2-2013
20024007@unknown@formal@none@1@S@The Perch and Dolphin fields are expected to start producing early next year, and the Seahorse and Tarwhine fields later next year.@@@@1@22@@oe@2-2-2013
20024008@unknown@formal@none@1@S@Esso said the fields were developed after the Australian government decided in 1987 to make the first 30 million barrels from new fields free of excise tax.@@@@1@27@@oe@2-2-2013
20025001@unknown@formal@none@1@S@R.P. Scherer Corp. said it completed the $10.2 million sale of its Southern Optical subsidiary to a group led by the unit's president, Thomas R. Sloan, and other managers.@@@@1@29@@oe@2-2-2013
20025002@unknown@formal@none@1@S@Following the acquisition of R.P. Scherer by a buy-out group led by Shearson Lehman Hutton earlier this year, the maker of gelatin capsules decided to divest itself of certain of its non-encapsulating businesses.@@@@1@33@@oe@2-2-2013
20025003@unknown@formal@none@1@S@The sale of Southern Optical is a part of the program.@@@@1@11@@oe@2-2-2013
20026001@unknown@formal@none@1@S@The White House said President Bush has approved duty-free treatment for imports of certain types of watches that aren't produced in "significant quantities" in the U.S., the Virgin Islands and other U.S. possessions.@@@@1@33@@oe@2-2-2013
20026002@unknown@formal@none@1@S@The action came in response to a petition filed by Timex Inc. for changes in the U.S. Generalized System of Preferences for imports from developing nations.@@@@1@26@@oe@2-2-2013
20026003@unknown@formal@none@1@S@Previously, watch imports were denied such duty-free treatment.@@@@1@8@@oe@2-2-2013
20026004@unknown@formal@none@1@S@Timex had requested duty-free treatment for many types of watches, covered by 58 different U.S. tariff classifications.@@@@1@17@@oe@2-2-2013
20026005@unknown@formal@none@1@S@The White House said Mr. Bush decided to grant duty-free status for 18 categories, but turned down such treatment for other types of watches "because of the potential for material injury to watch producers located in the U.S. and the Virgin Islands."@@@@1@42@@oe@2-2-2013
20026006@unknown@formal@none@1@S@Timex is a major U.S. producer and seller of watches, including low-priced battery-operated watches assembled in the Philippines and other developing nations covered by the U.S. tariff preferences.@@@@1@28@@oe@2-2-2013
20026007@unknown@formal@none@1@S@U.S. trade officials said the Philippines and Thailand would be the main beneficiaries of the president's action.@@@@1@17@@oe@2-2-2013
20026008@unknown@formal@none@1@S@Imports of the types of watches that now will be eligible for duty-free treatment totaled about $37.3 million in 1988, a relatively small share of the $1.5 billion in U.S. watch imports that year, according to an aide to U.S. Trade Representative Carla Hills.@@@@1@44@@oe@2-2-2013
20027001@unknown@formal@none@1@S@Magna International Inc.'s chief financial officer, James McAlpine, resigned and its chairman, Frank Stronach, is stepping in to help turn the automotive-parts manufacturer around, the company said.@@@@1@27@@oe@2-2-2013
20027002@unknown@formal@none@1@S@Mr. Stronach will direct an effort to reduce overhead and curb capital spending "until a more satisfactory level of profit is achieved and maintained," Magna said.@@@@1@26@@oe@2-2-2013
20027003@unknown@formal@none@1@S@Stephen Akerfeldt, currently vice president finance, will succeed Mr. McAlpine.@@@@1@10@@oe@2-2-2013
20027004@unknown@formal@none@1@S@An ambitious expansion has left Magna with excess capacity and a heavy debt load as the automotive industry enters a downturn.@@@@1@21@@oe@2-2-2013
20027005@unknown@formal@none@1@S@The company has reported declines in operating profit in each of the past three years, despite steady sales growth.@@@@1@19@@oe@2-2-2013
20027006@unknown@formal@none@1@S@Magna recently cut its quarterly dividend in half and the company's Class A shares are wallowing far below their 52-week high of 16.125 Canadian dollars (US$13.73).@@@@1@26@@oe@2-2-2013
20027007@unknown@formal@none@1@S@On the Toronto Stock Exchange yesterday, Magna shares closed up 37.5 Canadian cents to C$9.625.@@@@1@15@@oe@2-2-2013
20027008@unknown@formal@none@1@S@Mr. Stronach, founder and controlling shareholder of Magna, resigned as chief executive officer last year to seek, unsuccessfully, a seat in Canada's Parliament.@@@@1@23@@oe@2-2-2013
20027009@unknown@formal@none@1@S@Analysts said Mr. Stronach wants to resume a more influential role in running the company.@@@@1@15@@oe@2-2-2013
20027010@unknown@formal@none@1@S@They expect him to cut costs throughout the organization.@@@@1@9@@oe@2-2-2013
20027011@unknown@formal@none@1@S@The company said Mr. Stronach will personally direct the restructuring, assisted by Manfred Gingl, president and chief executive.@@@@1@18@@oe@2-2-2013
20027012@unknown@formal@none@1@S@Neither they nor Mr. McAlpine could be reached for comment.@@@@1@10@@oe@2-2-2013
20027013@unknown@formal@none@1@S@Magna said Mr. McAlpine resigned to pursue a consulting career, with Magna as one of his clients.@@@@1@17@@oe@2-2-2013
20028001@unknown@formal@none@1@S@Lord Chilver, 63-year-old chairman of English China Clays PLC, was named a nonexecutive director of this British chemical company.@@@@1@19@@oe@2-2-2013
20029001@unknown@formal@none@1@S@Japanese investors nearly single-handedly bought up two new mortgage securities-based mutual funds totaling $701 million, the U.S. Federal National Mortgage Association said.@@@@1@22@@oe@2-2-2013
20029002@unknown@formal@none@1@S@The purchases show the strong interest of Japanese investors in U.S. mortgage-based instruments, Fannie Mae's chairman, David O. Maxwell, said at a news conference.@@@@1@24@@oe@2-2-2013
20029003@unknown@formal@none@1@S@He said more than 90% of the funds were placed with Japanese institutional investors.@@@@1@14@@oe@2-2-2013
20029004@unknown@formal@none@1@S@The rest went to investors from France and Hong Kong.@@@@1@10@@oe@2-2-2013
20029005@unknown@formal@none@1@S@Earlier this year, Japanese investors snapped up a similar, $570 million mortgage-backed securities mutual fund.@@@@1@15@@oe@2-2-2013
20029006@unknown@formal@none@1@S@That fund was put together by Blackstone Group, a New York investment bank.@@@@1@13@@oe@2-2-2013
20029007@unknown@formal@none@1@S@The latest two funds were assembled jointly by Goldman, Sachs & Co. of the U.S. and Japan's Daiwa Securities Co.@@@@1@20@@oe@2-2-2013
20029008@unknown@formal@none@1@S@The new, seven-year funds -- one offering a fixed-rate return and the other with a floating-rate return linked to the London interbank offered rate -- offer two key advantages to Japanese investors.@@@@1@32@@oe@2-2-2013
20029009@unknown@formal@none@1@S@First, they are designed to eliminate the risk of prepayment -- mortgage-backed securities can be retired early if interest rates decline, and such prepayment forces investors to redeploy their money at lower rates.@@@@1@33@@oe@2-2-2013
20029010@unknown@formal@none@1@S@Second, they channel monthly mortgage payments into semiannual payments, reducing the administrative burden on investors.@@@@1@15@@oe@2-2-2013
20029011@unknown@formal@none@1@S@By addressing those problems, Mr. Maxwell said, the new funds have become "extremely attractive to Japanese and other investors outside the U.S."@@@@1@22@@oe@2-2-2013
20029012@unknown@formal@none@1@S@Such devices have boosted Japanese investment in mortgage-backed securities to more than 1% of the $900 billion in such instruments outstanding, and their purchases are growing at a rapid rate.@@@@1@30@@oe@2-2-2013
20029013@unknown@formal@none@1@S@They also have become large purchasers of Fannie Mae's corporate debt, buying $2.4 billion in Fannie Mae bonds during the first nine months of the year, or almost a tenth of the total amount issued.@@@@1@35@@oe@2-2-2013
20030001@unknown@formal@none@1@S@James L. Pate, 54-year-old executive vice president, was named a director of this oil concern, expanding the board to 14 members.@@@@1@21@@oe@2-2-2013
20031001@unknown@formal@none@1@S@LTV Corp. said a federal bankruptcy court judge agreed to extend until March 8, 1990, the period in which the steel, aerospace and energy products company has the exclusive right to file a reorganization plan.@@@@1@35@@oe@2-2-2013
20031002@unknown@formal@none@1@S@The company is operating under Chapter 11 of the federal Bankruptcy Code, giving it court protection from creditors' lawsuits while it attempts to work out a plan to pay its debts.@@@@1@31@@oe@2-2-2013
20032001@unknown@formal@none@1@S@Italian chemical giant Montedison S.p.A., through its Montedison Acquisition N.V. indirect unit, began its $37-a-share tender offer for all the common shares outstanding of Erbamont N.V., a maker of pharmaceuticals incorporated in the Netherlands.@@@@1@34@@oe@2-2-2013
20032002@unknown@formal@none@1@S@The offer, advertised in today's editions of The Wall Street Journal, is scheduled to expire at the end of November.@@@@1@20@@oe@2-2-2013
20032003@unknown@formal@none@1@S@Montedison currently owns about 72% of Erbamont's common shares outstanding.@@@@1@10@@oe@2-2-2013
20032004@unknown@formal@none@1@S@The offer is being launched pursuant to a previously announced agreement between the companies.@@@@1@14@@oe@2-2-2013
20033001@unknown@formal@none@1@S@Japan's reserves of gold, convertible foreign currencies, and special drawing rights fell by a hefty $1.82 billion in October to $84.29 billion, the Finance Ministry said.@@@@1@26@@oe@2-2-2013
20033002@unknown@formal@none@1@S@The total marks the sixth consecutive monthly decline.@@@@1@8@@oe@2-2-2013
20033003@unknown@formal@none@1@S@The protracted downturn reflects the intensity of Bank of Japan yen-support intervention since June, when the U.S. currency temporarily surged above the 150.00 yen level.@@@@1@25@@oe@2-2-2013
20033004@unknown@formal@none@1@S@The announcement follows a sharper $2.2 billion decline in the country's foreign reserves in September to $86.12 billion.@@@@1@18@@oe@2-2-2013
20034001@unknown@formal@none@1@S@Pick a country, any country.@@@@1@5@@oe@2-2-2013
20034002@unknown@formal@none@1@S@It's the latest investment craze sweeping Wall Street: a rash of new closed-end country funds, those publicly traded portfolios that invest in stocks of a single foreign country.@@@@1@28@@oe@2-2-2013
20034003@unknown@formal@none@1@S@No fewer than 24 country funds have been launched or registered with regulators this year, triple the level of all of 1988, according to Charles E. Simon & Co., a Washington-based research firm.@@@@1@33@@oe@2-2-2013
20034004@unknown@formal@none@1@S@The turf recently has ranged from Chile to Austria to Portugal.@@@@1@11@@oe@2-2-2013
20034005@unknown@formal@none@1@S@Next week, the Philippine Fund's launch will be capped by a visit by Philippine President Corazon Aquino -- the first time a head of state has kicked off an issue at the Big Board here.@@@@1@35@@oe@2-2-2013
20034006@unknown@formal@none@1@S@The next province?@@@@1@3@@oe@2-2-2013
20034007@unknown@formal@none@1@S@"Anything's possible -- how about the New Guinea Fund?" quips George Foot, a managing partner at Newgate Management Associates of Northampton, Mass.@@@@1@22@@oe@2-2-2013
20034008@unknown@formal@none@1@S@The recent explosion of country funds mirrors the "closed-end fund mania" of the 1920s, Mr. Foot says, when narrowly focused funds grew wildly popular.@@@@1@24@@oe@2-2-2013
20034009@unknown@formal@none@1@S@They fell into oblivion after the 1929 crash.@@@@1@8@@oe@2-2-2013
20034010@unknown@formal@none@1@S@Unlike traditional open-end mutual funds, most of these one-country portfolios are the "closed-end" type, issuing a fixed number of shares that trade publicly.@@@@1@23@@oe@2-2-2013
20034011@unknown@formal@none@1@S@The surge brings to nearly 50 the number of country funds that are or soon will be listed in New York or London.@@@@1@23@@oe@2-2-2013
20034012@unknown@formal@none@1@S@These funds now account for several billions of dollars in assets.@@@@1@11@@oe@2-2-2013
20034013@unknown@formal@none@1@S@"People are looking to stake their claims" now before the number of available nations runs out, says Michael Porter, an analyst at Smith Barney, Harris Upham & Co., New York.@@@@1@30@@oe@2-2-2013
20034014@unknown@formal@none@1@S@Behind all the hoopla is some heavy-duty competition.@@@@1@8@@oe@2-2-2013
20034015@unknown@formal@none@1@S@As individual investors have turned away from the stock market over the years, securities firms have scrambled to find new products that brokers find easy to sell.@@@@1@27@@oe@2-2-2013
20034016@unknown@formal@none@1@S@And the firms are stretching their nets far and wide to do it.@@@@1@13@@oe@2-2-2013
20034017@unknown@formal@none@1@S@Financial planners often urge investors to diversify and to hold a smattering of international securities.@@@@1@15@@oe@2-2-2013
20034018@unknown@formal@none@1@S@And many emerging markets have outpaced more mature markets, such as the U.S. and Japan.@@@@1@15@@oe@2-2-2013
20034019@unknown@formal@none@1@S@Country funds offer an easy way to get a taste of foreign stocks without the hard research of seeking out individual companies.@@@@1@22@@oe@2-2-2013
20034020@unknown@formal@none@1@S@But it doesn't take much to get burned.@@@@1@8@@oe@2-2-2013
20034021@unknown@formal@none@1@S@Political and currency gyrations can whipsaw the funds.@@@@1@8@@oe@2-2-2013
20034022@unknown@formal@none@1@S@Another concern: The funds' share prices tend to swing more than the broader market.@@@@1@14@@oe@2-2-2013
20034023@unknown@formal@none@1@S@When the stock market dropped nearly 7% Oct. 13, for instance, the Mexico Fund plunged about 18% and the Spain Fund fell 16%.@@@@1@23@@oe@2-2-2013
20034024@unknown@formal@none@1@S@And most country funds were clobbered more than most stocks after the 1987 crash.@@@@1@14@@oe@2-2-2013
20034025@unknown@formal@none@1@S@What's so wild about the funds' frenzy right now is that many are trading at historically fat premiums to the value of their underlying portfolios.@@@@1@25@@oe@2-2-2013
20034026@unknown@formal@none@1@S@After trading at an average discount of more than 20% in late 1987 and part of last year, country funds currently trade at an average premium of 6%.@@@@1@28@@oe@2-2-2013
20034027@unknown@formal@none@1@S@The reason: Share prices of many of these funds this year have climbed much more sharply than the foreign stocks they hold.@@@@1@22@@oe@2-2-2013
20034028@unknown@formal@none@1@S@It's probably worth paying a premium for funds that invest in markets that are partially closed to foreign investors, such as South Korea, some specialists say.@@@@1@26@@oe@2-2-2013
20034029@unknown@formal@none@1@S@But some European funds recently have skyrocketed; Spain Fund has surged to a startling 120% premium.@@@@1@16@@oe@2-2-2013
20034030@unknown@formal@none@1@S@It has been targeted by Japanese investors as a good long-term play tied to 1992's European economic integration.@@@@1@18@@oe@2-2-2013
20034031@unknown@formal@none@1@S@And several new funds that aren't even fully invested yet have jumped to trade at big premiums.@@@@1@17@@oe@2-2-2013
20034032@unknown@formal@none@1@S@"I'm very alarmed to see these rich valuations," says Smith Barney's Mr. Porter.@@@@1@13@@oe@2-2-2013
20034033@unknown@formal@none@1@S@The newly fattened premiums reflect the increasingly global marketing of some country funds, Mr. Porter suggests.@@@@1@16@@oe@2-2-2013
20034034@unknown@formal@none@1@S@Unlike many U.S. investors, those in Asia or Europe seeking foreign-stock exposure may be less resistant to paying higher prices for country funds.@@@@1@23@@oe@2-2-2013
20034035@unknown@formal@none@1@S@"There may be an international viewpoint cast on the funds listed here," Mr. Porter says.@@@@1@15@@oe@2-2-2013
20034036@unknown@formal@none@1@S@Nonetheless, plenty of U.S. analysts and money managers are aghast at the lofty trading levels of some country funds.@@@@1@19@@oe@2-2-2013
20034037@unknown@formal@none@1@S@They argue that U.S. investors often can buy American depositary receipts on the big stocks in many funds; these so-called ADRs represent shares of foreign companies traded in the U.S.@@@@1@30@@oe@2-2-2013
20034038@unknown@formal@none@1@S@That way investors can essentially buy the funds without paying the premium.@@@@1@12@@oe@2-2-2013
20034039@unknown@formal@none@1@S@For people who insist on jumping in now to buy the funds, Newgate's Mr. Foot says: "The only advice I have for these folks is that those who come to the party late had better be ready to leave quickly.@@@@1@40@@oe@2-2-2013
20035001@unknown@formal@none@1@S@The U.S. and Soviet Union are holding technical talks about possible repayment by Moscow of $188 million in pre-Communist Russian debts owed to the U.S. government, the State Department said.@@@@1@30@@oe@2-2-2013
20035002@unknown@formal@none@1@S@If the debts are repaid, it could clear the way for Soviet bonds to be sold in the U.S.@@@@1@19@@oe@2-2-2013
20035003@unknown@formal@none@1@S@However, after two meetings with the Soviets, a State Department spokesman said that it's "too early to say" whether that will happen.@@@@1@22@@oe@2-2-2013
20035004@unknown@formal@none@1@S@Coincident with the talks, the State Department said it has permitted a Soviet bank to open a New York branch.@@@@1@20@@oe@2-2-2013
20035005@unknown@formal@none@1@S@The branch of the Bank for Foreign Economic Affairs was approved last spring and opened in July.@@@@1@17@@oe@2-2-2013
20035006@unknown@formal@none@1@S@But a Soviet bank here would be crippled unless Moscow found a way to settle the $188 million debt, which was lent to the country's short-lived democratic Kerensky government before the Communists seized power in 1917.@@@@1@36@@oe@2-2-2013
20035007@unknown@formal@none@1@S@Under a 1934 law, the Johnson Debt Default Act, as amended, it's illegal for Americans to extend credit to countries in default to the U.S. government, unless they are members of the World Bank and International Monetary Fund.@@@@1@38@@oe@2-2-2013
20035008@unknown@formal@none@1@S@The U.S.S.R. belongs to neither organization.@@@@1@6@@oe@2-2-2013
20035009@unknown@formal@none@1@S@Moscow has settled pre-1917 debts with other countries in recent years at less than face value.@@@@1@16@@oe@2-2-2013
20035010@unknown@formal@none@1@S@The State Department stressed the pre-1933 debts as the key to satisfying the Johnson Act.@@@@1@15@@oe@2-2-2013
20035011@unknown@formal@none@1@S@But the Soviets might still face legal obstacles to raising money in the U.S. until they settle hundreds of millions of dollars in additional debt still outstanding from the World War II lend-lease program.@@@@1@34@@oe@2-2-2013
20036001@unknown@formal@none@1@S@In another reflection that the growth of the economy is leveling off, the government said that orders for manufactured goods and spending on construction failed to rise in September.@@@@1@29@@oe@2-2-2013
20036002@unknown@formal@none@1@S@Meanwhile, the National Association of Purchasing Management said its latest survey indicated that the manufacturing economy contracted in October for the sixth consecutive month.@@@@1@24@@oe@2-2-2013
20036003@unknown@formal@none@1@S@Its index inched up to 47.6% in October from 46% in September.@@@@1@12@@oe@2-2-2013
20036004@unknown@formal@none@1@S@Any reading below 50% suggests the manufacturing sector is generally declining.@@@@1@11@@oe@2-2-2013
20036005@unknown@formal@none@1@S@The purchasing managers, however, also said that orders turned up in October after four months of decline.@@@@1@17@@oe@2-2-2013
20036006@unknown@formal@none@1@S@Factories booked $236.74 billion in orders in September, nearly the same as the $236.79 billion in August, the Commerce Department said.@@@@1@21@@oe@2-2-2013
20036007@unknown@formal@none@1@S@If not for a 59.6% surge in orders for capital goods by defense contractors, factory orders would have fallen 2.1%.@@@@1@20@@oe@2-2-2013
20036008@unknown@formal@none@1@S@In a separate report, the department said construction spending ran at an annual rate of $415.6 billion, not significantly different from the $415.8 billion reported for August.@@@@1@27@@oe@2-2-2013
20036009@unknown@formal@none@1@S@Private construction spending was down, but government building activity was up.@@@@1@11@@oe@2-2-2013
20036010@unknown@formal@none@1@S@The figures in both reports were adjusted to remove the effects of usual seasonal patterns, but weren't adjusted for inflation.@@@@1@20@@oe@2-2-2013
20036011@unknown@formal@none@1@S@Kenneth Mayland, economist for Society Corp., a Cleveland bank, said demand for exports of factory goods is beginning to taper off.@@@@1@21@@oe@2-2-2013
20036012@unknown@formal@none@1@S@At the same time, the drop in interest rates since the spring has failed to revive the residential construction industry.@@@@1@20@@oe@2-2-2013
20036013@unknown@formal@none@1@S@"What sector is stepping forward to pick up the slack?" he asked.@@@@1@12@@oe@2-2-2013
20036014@unknown@formal@none@1@S@"I draw a blank."@@@@1@4@@oe@2-2-2013
20036015@unknown@formal@none@1@S@By most measures, the nation's industrial sector is now growing very slowly -- if at all.@@@@1@16@@oe@2-2-2013
20036016@unknown@formal@none@1@S@Factory payrolls fell in September.@@@@1@5@@oe@2-2-2013
20036017@unknown@formal@none@1@S@So did the Federal Reserve Board's industrial-production index.@@@@1@8@@oe@2-2-2013
20036018@unknown@formal@none@1@S@Yet many economists aren't predicting that the economy is about to slip into recession.@@@@1@14@@oe@2-2-2013
20036019@unknown@formal@none@1@S@They cite a lack of "imbalances" that provide early warning signals of a downturn.@@@@1@14@@oe@2-2-2013
20036020@unknown@formal@none@1@S@Inventories are closely watched for such clues, for instance.@@@@1@9@@oe@2-2-2013
20036021@unknown@formal@none@1@S@Economists say a buildup in inventories can provoke cutbacks in production that can lead to a recession.@@@@1@17@@oe@2-2-2013
20036022@unknown@formal@none@1@S@But yesterday's factory orders report had good news on that front: it said factory inventories fell 0.1% in September, the first decline since February 1987.@@@@1@25@@oe@2-2-2013
20036023@unknown@formal@none@1@S@"This conforms to the `soft landing' scenario," said Elliott Platt, an economist at Donaldson, Lufkin & Jenrette Securities Corp.@@@@1@19@@oe@2-2-2013
20036024@unknown@formal@none@1@S@"I don't see any signs that inventories are excessive."@@@@1@9@@oe@2-2-2013
20036025@unknown@formal@none@1@S@A soft landing is an economic slowdown that eases inflation without leading to a recession.@@@@1@15@@oe@2-2-2013
20036026@unknown@formal@none@1@S@The department said orders for nondurable goods -- those intended to last fewer than three years -- fell 0.3% in September to $109.73 billion after climbing 0.9% the month before.@@@@1@30@@oe@2-2-2013
20036027@unknown@formal@none@1@S@Orders for durable goods were up 0.2% to $127.03 billion after rising 3.9% the month before.@@@@1@16@@oe@2-2-2013
20036028@unknown@formal@none@1@S@The department previously estimated that durable-goods orders fell 0.1% in September.@@@@1@11@@oe@2-2-2013
20036029@unknown@formal@none@1@S@Factory shipments fell 1.6% to $234.4 billion after rising 5.4% in August.@@@@1@12@@oe@2-2-2013
20036030@unknown@formal@none@1@S@Shipments have been relatively level since January, the Commerce Department noted.@@@@1@11@@oe@2-2-2013
20036031@unknown@formal@none@1@S@Manufacturers' backlogs of unfilled orders rose 0.5% in September to $497.34 billion, helped by strength in the defense capital goods sector.@@@@1@21@@oe@2-2-2013
20036032@unknown@formal@none@1@S@Excluding these orders, backlogs declined 0.3%.@@@@1@6@@oe@2-2-2013
20036033@unknown@formal@none@1@S@In its construction spending report, the Commerce Department said residential construction, which accounts for nearly half of all construction spending, was off 0.9% in September to an annual rate of $191.9 billion.@@@@1@32@@oe@2-2-2013
20036034@unknown@formal@none@1@S@David Berson, economist for the Mortgage Bankers Association, predicted the drop in interest rates eventually will boost spending on single-family homes, but probably not until early next year.@@@@1@28@@oe@2-2-2013
20036035@unknown@formal@none@1@S@Spending on private, nonresidential construction was off 2.6% to an annual rate of $99.1 billion with no sector showing strength.@@@@1@20@@oe@2-2-2013
20036036@unknown@formal@none@1@S@Government construction spending rose 4.3% to $88 billion.@@@@1@8@@oe@2-2-2013
20036037@unknown@formal@none@1@S@After adjusting for inflation, the Commerce Department said construction spending didn't change in September.@@@@1@14@@oe@2-2-2013
20036038@unknown@formal@none@1@S@For the first nine months of the year, total construction spending ran about 2% above last year's level.@@@@1@18@@oe@2-2-2013
20036039@unknown@formal@none@1@S@The government's construction spending figures contrast with a report issued earlier in the week by McGraw-Hill Inc.'s F.W. Dodge Group.@@@@1@20@@oe@2-2-2013
20036040@unknown@formal@none@1@S@Dodge reported an 8% increase in construction contracts awarded in September.@@@@1@11@@oe@2-2-2013
20036041@unknown@formal@none@1@S@The goverment counts money as it is spent; Dodge counts contracts when they are awarded.@@@@1@15@@oe@2-2-2013
20036042@unknown@formal@none@1@S@The government includes money spent on residential renovation; Dodge doesn't.@@@@1@10@@oe@2-2-2013
20036043@unknown@formal@none@1@S@Although the purchasing managers' index continues to indicate a slowing economy, it isn't signaling an imminent recession, said Robert Bretz, chairman of the association's survey committee and director of materials management at Pitney Bowes Inc., Stamford, Conn.@@@@1@37@@oe@2-2-2013
20036044@unknown@formal@none@1@S@He said the index would have to be in the low 40% range for several months to be considered a forecast of recession.@@@@1@23@@oe@2-2-2013
20036045@unknown@formal@none@1@S@The report offered new evidence that the nation's export growth, though still continuing, may be slowing.@@@@1@16@@oe@2-2-2013
20036046@unknown@formal@none@1@S@Only 19% of the purchasing managers reported better export orders in October, down from 27% in September.@@@@1@17@@oe@2-2-2013
20036047@unknown@formal@none@1@S@And 8% said export orders were down last month, compared with 6% the month before.@@@@1@15@@oe@2-2-2013
20036048@unknown@formal@none@1@S@The purhasing managers' report also added evidence that inflation is under control.@@@@1@12@@oe@2-2-2013
20036049@unknown@formal@none@1@S@For the fifth consecutive month, purchasing managers said prices for the goods they purchased fell.@@@@1@15@@oe@2-2-2013
20036050@unknown@formal@none@1@S@The decline was even steeper than in September.@@@@1@8@@oe@2-2-2013
20036051@unknown@formal@none@1@S@They also said that vendors were delivering goods more quickly in October than they had for each of the five previous months.@@@@1@22@@oe@2-2-2013
20036052@unknown@formal@none@1@S@Economists consider that a sign that inflationary pressures are abating.@@@@1@10@@oe@2-2-2013
20036053@unknown@formal@none@1@S@When demand is stronger than suppliers can handle and delivery times lengthen, prices tend to rise.@@@@1@16@@oe@2-2-2013
20036054@unknown@formal@none@1@S@The purchasing managers' report is based on data provided by more than 250 purchasing executives.@@@@1@15@@oe@2-2-2013
20036055@unknown@formal@none@1@S@Each of the survey's indicators gauges the difference between the number of purchasers reporting improvement in a particular area and the number reporting a worsening.@@@@1@25@@oe@2-2-2013
20036056@unknown@formal@none@1@S@For the first time, the October survey polled members on imports.@@@@1@11@@oe@2-2-2013
20036057@unknown@formal@none@1@S@It found that of the 73% who import, 10% said they imported more in October and 12% said they imported less than the previous month.@@@@1@25@@oe@2-2-2013
20036058@unknown@formal@none@1@S@While acknowledging one month's figures don't prove a trend, Mr. Bretz said, "It does lead you to suspect imports are going down, or at least not increasing that much."@@@@1@29@@oe@2-2-2013
20036059@unknown@formal@none@1@S@Items listed as being in short supply numbered only about a dozen, but they included one newcomer: milk and milk powder.@@@@1@21@@oe@2-2-2013
20036060@unknown@formal@none@1@S@"It's an odd thing to put on the list," Mr. Bretz noted.@@@@1@12@@oe@2-2-2013
20036061@unknown@formal@none@1@S@He said that for the second month in a row, food processors reported a shortage of nonfat dry milk.@@@@1@19@@oe@2-2-2013
20036062@unknown@formal@none@1@S@They blamed increased demand for dairy products at a time of exceptionally high U.S. exports of dry milk, coupled with very low import quotas.@@@@1@24@@oe@2-2-2013
20036063@unknown@formal@none@1@S@Pamela Sebastian in New York contributed to this article.@@@@1@9@@oe@2-2-2013
20036064@unknown@formal@none@1@S@Here are the Commerce Department's figures for construction spending in billions of dollars at seasonally adjusted annual rates.@@@@1@18@@oe@2-2-2013
20036065@unknown@formal@none@1@S@Here are the Commerce Department's latest figures for manufacturers in billions of dollars, seasonally adjusted.@@@@1@15@@oe@2-2-2013
20037001@unknown@formal@none@1@S@Judging from the Americana in Haruki Murakami's "A Wild Sheep Chase" (Kodansha, 320 pages, $18.95), baby boomers on both sides of the Pacific have a lot in common.@@@@1@28@@oe@2-2-2013
20037002@unknown@formal@none@1@S@Although set in Japan, the novel's texture is almost entirely Western, especially American.@@@@1@13@@oe@2-2-2013
20037003@unknown@formal@none@1@S@Characters drink Salty Dogs, whistle "Johnny B. Goode" and watch Bugs Bunny reruns.@@@@1@13@@oe@2-2-2013
20037004@unknown@formal@none@1@S@They read Mickey Spillane and talk about Groucho and Harpo.@@@@1@10@@oe@2-2-2013
20037005@unknown@formal@none@1@S@They worry about their careers, drink too much and suffer through broken marriages and desultory affairs.@@@@1@16@@oe@2-2-2013
20037006@unknown@formal@none@1@S@This is Japan?@@@@1@3@@oe@2-2-2013
20037007@unknown@formal@none@1@S@For an American reader, part of the charm of this engaging novel should come in recognizing that Japan isn't the buttoned-down society of contemporary American lore.@@@@1@26@@oe@2-2-2013
20037008@unknown@formal@none@1@S@It's also refreshing to read a Japanese author who clearly doesn't belong to the self-aggrandizing "we-Japanese" school of writers who perpetuate the notion of the unique Japanese, unfathomable by outsiders.@@@@1@30@@oe@2-2-2013
20037009@unknown@formal@none@1@S@If "A Wild Sheep Chase" carries an implicit message for international relations, it's that the Japanese are more like us than most of us think.@@@@1@25@@oe@2-2-2013
20037010@unknown@formal@none@1@S@That's not to say that the nutty plot of "A Wild Sheep Chase" is rooted in reality.@@@@1@17@@oe@2-2-2013
20037011@unknown@formal@none@1@S@It's imaginative and often funny.@@@@1@5@@oe@2-2-2013
20037012@unknown@formal@none@1@S@A disaffected, hard-drinking, nearly-30 hero sets off for snow country in search of an elusive sheep with a star on its back at the behest of a sinister, erudite mobster with a Stanford degree.@@@@1@34@@oe@2-2-2013
20037013@unknown@formal@none@1@S@He has in tow his prescient girlfriend, whose sassy retorts mark her as anything but a docile butterfly.@@@@1@18@@oe@2-2-2013
20037014@unknown@formal@none@1@S@Along the way, he meets a solicitous Christian chauffeur who offers the hero God's phone number; and the Sheep Man, a sweet, roughhewn figure who wears -- what else -- a sheepskin.@@@@1@32@@oe@2-2-2013
20037015@unknown@formal@none@1@S@The 40-year-old Mr. Murakami is a publishing sensation in Japan.@@@@1@10@@oe@2-2-2013
20037016@unknown@formal@none@1@S@A more recent novel, "Norwegian Wood" (every Japanese under 40 seems to be fluent in Beatles lyrics), has sold more than four million copies since Kodansha published it in 1987.@@@@1@30@@oe@2-2-2013
20037017@unknown@formal@none@1@S@But he is just one of several youthful writers -- Tokyo's brat pack -- who are dominating the best-seller charts in Japan.@@@@1@22@@oe@2-2-2013
20037018@unknown@formal@none@1@S@Their books are written in idiomatic, contemporary language and usually carry hefty dashes of Americana.@@@@1@15@@oe@2-2-2013
20037019@unknown@formal@none@1@S@In Robert Whiting's "You Gotta Have Wa" (Macmillan, 339 pages, $17.95), the Beatles give way to baseball, in the Nipponese version we would be hard put to call a "game."@@@@1@30@@oe@2-2-2013
20037020@unknown@formal@none@1@S@As Mr. Whiting describes it, Nipponese baseball is a "mirror of Japan's fabled virtues of hard work and harmony."@@@@1@19@@oe@2-2-2013
20037021@unknown@formal@none@1@S@"Wa" is Japanese for "team spirit" and Japanese ballplayers have miles and miles of it.@@@@1@15@@oe@2-2-2013
20037022@unknown@formal@none@1@S@A player's commitment to practice and team image is as important as his batting average.@@@@1@15@@oe@2-2-2013
20037023@unknown@formal@none@1@S@Polls once named Tokyo Giants star Tatsunori Hara, a "humble, uncomplaining, obedient soul," as the male symbol of Japan.@@@@1@19@@oe@2-2-2013
20037024@unknown@formal@none@1@S@But other than the fact that besuboru is played with a ball and a bat, it's unrecognizable: Fans politely return foul balls to stadium ushers; the strike zone expands depending on the size of the hitter; ties are permitted -- even welcomed -- since they honorably sidestep the shame of defeat; players must abide by strict rules of conduct even in their personal lives -- players for the Tokyo Giants, for example, must always wear ties when on the road.@@@@1@80@@oe@2-2-2013
20037025@unknown@formal@none@1@S@"You Gotta Have Wa" is the often amusing chronicle of how American ballplayers, rationed to two per team, fare in Japan.@@@@1@21@@oe@2-2-2013
20037026@unknown@formal@none@1@S@Despite the enormous sums of money they're paid to stand up at a Japanese plate, a good number decide it's not worth it and run for home.@@@@1@27@@oe@2-2-2013
20037027@unknown@formal@none@1@S@"Funny Business" (Soho, 228 pages, $17.95) by Gary Katzenstein is anything but.@@@@1@12@@oe@2-2-2013
20037028@unknown@formal@none@1@S@It's the petulant complaint of an impudent American whom Sony hosted for a year while he was on a Luce Fellowship in Tokyo -- to the regret of both parties.@@@@1@30@@oe@2-2-2013
20037029@unknown@formal@none@1@S@In sometimes amusing, more often supercilious, even vicious passages, Mr. Katzenstein describes how Sony invades even the most mundane aspects of its workers' lives -- at the regimented office, where employees are assigned lunch partners -- and at "home" in the austere company dormitory run by a prying caretaker.@@@@1@49@@oe@2-2-2013
20037030@unknown@formal@none@1@S@Some of his observations about Japanese management style are on the mark.@@@@1@12@@oe@2-2-2013
20037031@unknown@formal@none@1@S@It's probably true that many salarymen put in unproductive overtime just for the sake of solidarity, that the system is so hierarchical that only the assistant manager can talk to the manager and the manager to the general manager, and that Sony was chary of letting a young, short-term American employee take on any responsibility.@@@@1@55@@oe@2-2-2013
20037032@unknown@formal@none@1@S@All of this must have been enormously frustrating to Mr. Katzenstein, who went to Sony with degrees in business and computer science and was raring to invent another Walkman.@@@@1@29@@oe@2-2-2013
20037033@unknown@formal@none@1@S@But Sony ultimately took a lesson from the American management books and fired Mr. Katzenstein, after he committed the social crime of making an appointment to see the venerable Akio Morita, founder of Sony.@@@@1@34@@oe@2-2-2013
20037034@unknown@formal@none@1@S@It's a shame their meeting never took place.@@@@1@8@@oe@2-2-2013
20037035@unknown@formal@none@1@S@Mr. Katzenstein certainly would have learned something, and it's even possible Mr. Morita would have too.@@@@1@16@@oe@2-2-2013
20037036@unknown@formal@none@1@S@Ms. Kirkpatrick, the Journal's deputy editorial features editor, worked in Tokyo for three years.@@@@1@14@@oe@2-2-2013
20037037@unknown@formal@none@1@S@More and more corners of the globe are becoming free of tobacco smoke.@@@@1@13@@oe@2-2-2013
20037038@unknown@formal@none@1@S@In Singapore, a new law requires smokers to put out their cigarettes before entering restaurants, department stores and sports centers or face a $250 fine.@@@@1@25@@oe@2-2-2013
20037039@unknown@formal@none@1@S@Discos and private clubs are exempt from the ban, and smoking will be permitted in bars except during meal hours, an official said.@@@@1@23@@oe@2-2-2013
20037040@unknown@formal@none@1@S@Singapore already bans smoking in all theaters, buses, public elevators, hospitals and fast-food restaurants.@@@@1@14@@oe@2-2-2013
20037041@unknown@formal@none@1@S@In Malaysia, Siti Zaharah Sulaiman, a deputy minister in the prime minister's office, launched a "No-Smoking Week" at the Mara Institute of Technology near Kuala Lumpur and urged other schools to ban on-campus smoking.@@@@1@34@@oe@2-2-2013
20037042@unknown@formal@none@1@S@South Korea has different concerns.@@@@1@5@@oe@2-2-2013
20037043@unknown@formal@none@1@S@In Seoul, officials began visiting about 26,000 cigarette stalls to remove illegal posters and signboards advertising imported cigarettes.@@@@1@18@@oe@2-2-2013
20037044@unknown@formal@none@1@S@South Korea has opened its market to foreign cigarettes but restricts advertising to designated places.@@@@1@15@@oe@2-2-2013
20037045@unknown@formal@none@1@S@A marketing study indicates that Hong Kong consumers are the most materialistic in the 14 major markets where the survey was carried out.@@@@1@23@@oe@2-2-2013
20037046@unknown@formal@none@1@S@The study by the Backer Spielvogel Bates ad agency also found that the colony's consumers feel more pressured than those in any of the other surveyed markets, which include the U.S. and Japan.@@@@1@33@@oe@2-2-2013
20037047@unknown@formal@none@1@S@The survey found that nearly half of Hong Kong consumers espouse what it identified as materialistic values, compared with about one-third in Japan and the U.S.@@@@1@26@@oe@2-2-2013
20037048@unknown@formal@none@1@S@More than three in five said they are under a great deal of stress most of the time, compared with less than one in two U.S. consumers and one in four in Japan.@@@@1@33@@oe@2-2-2013
20037049@unknown@formal@none@1@S@The Thai cabinet endorsed Finance Minister Pramual Sabhavasu's proposal to build a $19 million conference center for a joint meeting of the World Bank and International Monetary Fund two years from now.@@@@1@32@@oe@2-2-2013
20037050@unknown@formal@none@1@S@The meeting, which is expected to draw 20,000 to Bangkok, was going to be held at the Central Plaza Hotel, but the government balked at the hotel's conditions for undertaking necessary expansion.@@@@1@32@@oe@2-2-2013
20037051@unknown@formal@none@1@S@A major concern about the current plan is whether the new center can be built in such a short time.@@@@1@20@@oe@2-2-2013
20037052@unknown@formal@none@1@S@Yasser Arafat has written to the chairman of the International Olympic Committee asking him to back a Palestinian bid to join the committee, the Palestine Liberation Organization news agency WAFA said.@@@@1@31@@oe@2-2-2013
20037053@unknown@formal@none@1@S@An official of the Palestinian Olympic Committee said the committee first applied for membership in 1979 and renewed its application in August of this year.@@@@1@25@@oe@2-2-2013
20037054@unknown@formal@none@1@S@The PLO in recent months has been trying to join international organizations but failed earlier this year to win membership in the World Health Organization and the World Tourism Organization.@@@@1@30@@oe@2-2-2013
20037055@unknown@formal@none@1@S@A Beijing food-shop assistant has become the first mainland Chinese to get AIDS through sex, the People's Daily said.@@@@1@19@@oe@2-2-2013
20037056@unknown@formal@none@1@S@It said the man, whom it did not name, had been found to have the disease after hospital tests.@@@@1@19@@oe@2-2-2013
20037057@unknown@formal@none@1@S@Once the disease was confirmed, all the man's associates and family were tested, but none have so far been found to have AIDS, the newspaper said.@@@@1@26@@oe@2-2-2013
20037058@unknown@formal@none@1@S@The man had for a long time had "a chaotic sex life," including relations with foreign men, the newspaper said.@@@@1@20@@oe@2-2-2013
20037059@unknown@formal@none@1@S@The Polish government increased home electricity charges by 150% and doubled gas prices.@@@@1@13@@oe@2-2-2013
20037060@unknown@formal@none@1@S@The official news agency PAP said the increases were intended to bring unrealistically low energy charges into line with production costs and compensate for a rise in coal prices.@@@@1@29@@oe@2-2-2013
20037061@unknown@formal@none@1@S@In happier news, South Korea, in establishing diplomatic ties with Poland yesterday, announced $450 million in loans to the financially strapped Warsaw government.@@@@1@23@@oe@2-2-2013
20037062@unknown@formal@none@1@S@In a victory for environmentalists, Hungary's parliament terminated a multibillion-dollar River Danube dam being built by Austrian firms.@@@@1@18@@oe@2-2-2013
20037063@unknown@formal@none@1@S@The Nagymaros dam was designed to be twinned with another dam, now nearly complete, 100 miles upstream in Czechoslovakia.@@@@1@19@@oe@2-2-2013
20037064@unknown@formal@none@1@S@In ending Hungary's part of the project, Parliament authorized Prime Minister Miklos Nemeth to modify a 1977 agreement with Czechoslovakia, which still wants the dam to be built.@@@@1@28@@oe@2-2-2013
20037065@unknown@formal@none@1@S@Mr. Nemeth said in parliament that Czechoslovakia and Hungary would suffer environmental damage if the twin dams were built as planned.@@@@1@21@@oe@2-2-2013
20037066@unknown@formal@none@1@S@Czechoslovakia said in May it could seek $2 billion from Hungary if the twindam contract were broken.@@@@1@17@@oe@2-2-2013
20037067@unknown@formal@none@1@S@The Czech dam can't be operated solely at peak periods without the Nagymaros project.@@@@1@14@@oe@2-2-2013
20037068@unknown@formal@none@1@S@A painting by August Strindberg set a Scandinavian price record when it sold at auction in Stockholm for $2.44 million.@@@@1@20@@oe@2-2-2013
20037069@unknown@formal@none@1@S@"Lighthouse II" was painted in oils by the playwright in 1901 . . .@@@@1@14@@oe@2-2-2013
20037070@unknown@formal@none@1@S@After years of decline, weddings in France showed a 2.2% upturn last year, with 6,000 more couples exchanging rings in 1988 than in the previous year, the national statistics office said.@@@@1@31@@oe@2-2-2013
20037071@unknown@formal@none@1@S@But the number of weddings last year -- 271,124 -- was still well below the 400,000 registered in 1972, the last year of increasing marriages.@@@@1@25@@oe@2-2-2013
20038001@unknown@formal@none@1@S@BRAMALEA Ltd. said it agreed to issue 100 million Canadian dollars (US$85.1 million) of 10.5% senior debentures due Nov. 30, 1999, together with 100,000 bond purchase warrants.@@@@1@27@@oe@2-2-2013
20038002@unknown@formal@none@1@S@The Toronto-based real estate concern said each bond warrant entitles the holder to buy C$1,000 principal amount of debentures at par plus accrued interest to the date of purchase.@@@@1@29@@oe@2-2-2013
20038003@unknown@formal@none@1@S@The warrants expire Nov. 30, 1990.@@@@1@6@@oe@2-2-2013
20038004@unknown@formal@none@1@S@The issue will be swapped into fixed-rate U.S. dollars at a rate the company said is less than 9%; a spokesman declined to elaborate.@@@@1@24@@oe@2-2-2013
20038005@unknown@formal@none@1@S@Lead underwriters for the issue are Scotia McLeod Inc. and RBC Dominion Securities Inc., both Toronto-based investment dealers.@@@@1@18@@oe@2-2-2013
20038006@unknown@formal@none@1@S@Bramalea said it expects to complete the issue by the end of the month.@@@@1@14@@oe@2-2-2013
20039001@unknown@formal@none@1@S@As an actor, Charles Lane isn't the inheritor of Charlie Chaplin's spirit.@@@@1@12@@oe@2-2-2013
20039002@unknown@formal@none@1@S@Steve Martin has already laid his claim to that.@@@@1@9@@oe@2-2-2013
20039003@unknown@formal@none@1@S@But it is Mr. Lane, as movie director, producer and writer, who has been obsessed with refitting Chaplin's Little Tramp in a contemporary way.@@@@1@24@@oe@2-2-2013
20039004@unknown@formal@none@1@S@In 1976, as a film student at the Purchase campus of the State University of New York, Mr. Lane shot "A Place in Time," a 36-minute black-and-white film about a sketch artist, a man of the streets.@@@@1@37@@oe@2-2-2013
20039005@unknown@formal@none@1@S@Now, 13 years later, Mr. Lane has revived his Artist in a full-length movie called "Sidewalk Stories," a poignant piece of work about a modern-day tramp.@@@@1@26@@oe@2-2-2013
20039006@unknown@formal@none@1@S@Of course, if the film contained dialogue, Mr. Lane's Artist would be called a homeless person.@@@@1@16@@oe@2-2-2013
20039007@unknown@formal@none@1@S@So would the Little Tramp, for that matter.@@@@1@8@@oe@2-2-2013
20039008@unknown@formal@none@1@S@I say "contained dialogue" because "Sidewalk Stories" isn't really silent at all.@@@@1@12@@oe@2-2-2013
20039009@unknown@formal@none@1@S@Composer Marc Marder, a college friend of Mr. Lane's who earns his living playing the double bass in classical music ensembles, has prepared an exciting, eclectic score that tells you what the characters are thinking and feeling far more precisely than intertitles, or even words, would.@@@@1@46@@oe@2-2-2013
20039010@unknown@formal@none@1@S@Much of Mr. Lane's film takes a highly romanticized view of life on the streets (though probably no more romanticized than Mr. Chaplin's notion of the Tramp as the good-hearted free spirit).@@@@1@32@@oe@2-2-2013
20039011@unknown@formal@none@1@S@Filmed in lovely black and white by Bill Dill, the New York streets of "Sidewalk Stories" seem benign.@@@@1@18@@oe@2-2-2013
20039012@unknown@formal@none@1@S@On Wall Street men and women walk with great purpose, noticing one another only when they jostle for cabs.@@@@1@19@@oe@2-2-2013
20039013@unknown@formal@none@1@S@The Artist hangs out in Greenwich Village, on a strip of Sixth Avenue populated by jugglers, magicians and other good-natured hustlers.@@@@1@21@@oe@2-2-2013
20039014@unknown@formal@none@1@S@(This clearly is not real life: no crack dealers, no dead-eyed men selling four-year-old copies of Cosmopolitan, no one curled up in a cardboard box.)@@@@1@25@@oe@2-2-2013
20039015@unknown@formal@none@1@S@The Artist has his routine.@@@@1@5@@oe@2-2-2013
20039016@unknown@formal@none@1@S@He spends his days sketching passers-by, or trying to.@@@@1@9@@oe@2-2-2013
20039017@unknown@formal@none@1@S@At night he returns to the condemned building he calls home.@@@@1@11@@oe@2-2-2013
20039018@unknown@formal@none@1@S@His life, including his skirmishes with a competing sketch artist, seems carefree.@@@@1@12@@oe@2-2-2013
20039019@unknown@formal@none@1@S@He is his own man.@@@@1@5@@oe@2-2-2013
20039020@unknown@formal@none@1@S@Then, just as the Tramp is given a blind girl to cure in "City Lights," the Artist is put in charge of returning a two-year-old waif (Nicole Alysia), whose father has been murdered by thugs, to her mother.@@@@1@38@@oe@2-2-2013
20039021@unknown@formal@none@1@S@This cute child turns out to be a blessing and a curse.@@@@1@12@@oe@2-2-2013
20039022@unknown@formal@none@1@S@She gives the Artist a sense of purpose, but also alerts him to the serious inadequacy of his vagrant life.@@@@1@20@@oe@2-2-2013
20039023@unknown@formal@none@1@S@The beds at the Bowery Mission seem far drearier when he has to tuck a little girl into one of them at night.@@@@1@23@@oe@2-2-2013
20039024@unknown@formal@none@1@S@To further load the stakes, Mr. Lane dreamed up a highly improbable romance for the Artist, with a young woman who owns her own children's shop and who lives in an expensive high-rise apartment building.@@@@1@35@@oe@2-2-2013
20039025@unknown@formal@none@1@S@This story line might resonate more strongly if Mr. Lane had as strong a presence in front of the camera as he does behind it.@@@@1@25@@oe@2-2-2013
20039026@unknown@formal@none@1@S@Mr. Lane's final purpose isn't to glamorize the Artist's vagabond existence.@@@@1@11@@oe@2-2-2013
20039027@unknown@formal@none@1@S@He has a point he wants to make, and he makes it, with a great deal of force.@@@@1@18@@oe@2-2-2013
20039028@unknown@formal@none@1@S@The movie ends with sound, the sound of street people talking, and there isn't anything whimsical or enviable in those rough, beaten voices.@@@@1@23@@oe@2-2-2013
20039029@unknown@formal@none@1@S@The French film maker Claude Chabrol has managed another kind of weird achievement with his "Story of Women."@@@@1@18@@oe@2-2-2013
20039030@unknown@formal@none@1@S@He has made a harsh, brilliant picture -- one that's captivating -- about a character who, viewed from the most sympathetic angle, would seem disagreeable.@@@@1@25@@oe@2-2-2013
20039031@unknown@formal@none@1@S@Yet this woman, Marie-Louise Giraud, carries historical significance, both as one of the last women to be executed in France and as a symbol of the Vichy government's hypocrisy.@@@@1@29@@oe@2-2-2013
20039032@unknown@formal@none@1@S@While Vichy collaborated with the Germans during World War II in the deaths of thousands of Resistance fighters and Jews, its officials needed a diversionary symbolic traitor.@@@@1@27@@oe@2-2-2013
20039033@unknown@formal@none@1@S@Marie-Louise, a small-time abortionist, was their woman.@@@@1@7@@oe@2-2-2013
20039034@unknown@formal@none@1@S@She became an abortionist accidentally, and continued because it enabled her to buy jam, cocoa and other war-rationed goodies.@@@@1@19@@oe@2-2-2013
20039035@unknown@formal@none@1@S@She was untrained and, in one botched job killed a client.@@@@1@11@@oe@2-2-2013
20039036@unknown@formal@none@1@S@Her remorse was shallow and brief.@@@@1@6@@oe@2-2-2013
20039037@unknown@formal@none@1@S@Although she was kind and playful to her children, she was dreadful to her war-damaged husband; she openly brought her lover into their home.@@@@1@24@@oe@2-2-2013
20039038@unknown@formal@none@1@S@As presented by Mr. Chabrol, and played with thin-lipped intensity by Isabelle Huppert, Marie-Louise (called Marie Latour in the film) was not a nice person.@@@@1@25@@oe@2-2-2013
20039039@unknown@formal@none@1@S@But she didn't deserve to have her head chopped off.@@@@1@10@@oe@2-2-2013
20039040@unknown@formal@none@1@S@There is very little to recommend "Old Gringo," a confused rendering of the Carlos Fuentes novel of the Mexican Revolution.@@@@1@20@@oe@2-2-2013
20039041@unknown@formal@none@1@S@Most of the picture is taken up with endless scenes of many people either fighting or eating and drinking to celebrate victory.@@@@1@22@@oe@2-2-2013
20039042@unknown@formal@none@1@S@I mention the picture only because many bad movies have a bright spot, and this one has Gregory Peck, in a marvelously loose and energetic portrayal of an old man who wants to die the way he wants to die.@@@@1@40@@oe@2-2-2013
20039043@unknown@formal@none@1@S@Video Tip: Before seeing "Sidewalk Stories," take a look at "City Lights," Chaplin's Tramp at his finest.@@@@1@17@@oe@2-2-2013
20040001@unknown@formal@none@1@S@Boeing Co. said it is discussing plans with three of its regular Japanese suppliers to possibly help build a larger version of its popular 767 twin-jet.@@@@1@26@@oe@2-2-2013
20040002@unknown@formal@none@1@S@The discussions are still in preliminary stages, and the specific details haven't been worked out between the Seattle aerospace company and Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd. and Fuji Heavy Industries Ltd.@@@@1@34@@oe@2-2-2013
20040003@unknown@formal@none@1@S@The three Japanese companies build the body sections of the 767, accounting for a combined 15% of the aircraft.@@@@1@19@@oe@2-2-2013
20040004@unknown@formal@none@1@S@Japanese press reports have speculated that the Japanese contribution could rise to between 20% and 25% under the new program.@@@@1@20@@oe@2-2-2013
20040005@unknown@formal@none@1@S@If Boeing goes ahead with the larger 767, the plane could hit the market in the mid-1990s.@@@@1@17@@oe@2-2-2013
20041001@unknown@formal@none@1@S@This is the year the negative ad, for years a secondary presence in most political campaigns, became the main event.@@@@1@20@@oe@2-2-2013
20041002@unknown@formal@none@1@S@The irony is that the attack commercial, after getting a boost in last year's presidential campaign, has come of age in an off-off election year with only a few contests scattered across the country.@@@@1@34@@oe@2-2-2013
20041003@unknown@formal@none@1@S@But in the three leading political contests of 1989, the negative ads have reached new levels of hostility, raising fears that this kind of mudslinging, empty of significant issues, is ushering in a new era of campaigns without content.@@@@1@39@@oe@2-2-2013
20041004@unknown@formal@none@1@S@"Now," says Joseph Napolitan, a pioneer in political television, "the idea is to attack first, last and always."@@@@1@18@@oe@2-2-2013
20041005@unknown@formal@none@1@S@A trend that started with the first stirrings of politics, accelerated with the dawn of the television age and became a sometimes-tawdry art form in 1988, has reached an entirely new stage.@@@@1@32@@oe@2-2-2013
20041006@unknown@formal@none@1@S@"To get people's attention these days," says Douglas Bailey, a political consultant, "your TV ad needs to be bold and entertaining, and, more often than not, that means confrontational.@@@@1@29@@oe@2-2-2013
20041007@unknown@formal@none@1@S@And, unlike a few years ago, you don't even have to worry whether the ad is truthful."@@@@1@17@@oe@2-2-2013
20041008@unknown@formal@none@1@S@In 1989, as often as not, the principal fights in the major campaigns are prompted by the ads themselves.@@@@1@19@@oe@2-2-2013
20041009@unknown@formal@none@1@S@Take a look, then, at the main attack commercials that set the tone for Tuesday's elections in New York City, New Jersey and Virginia:@@@@1@24@@oe@2-2-2013
20041010@unknown@formal@none@1@S@New York City:@@@@1@3@@oe@2-2-2013
20041011@unknown@formal@none@1@S@The screen fills with a small, tight facial shot of David Dinkins, Democratic candidate for mayor of New York City.@@@@1@20@@oe@2-2-2013
20041012@unknown@formal@none@1@S@"David Dinkins failed to file his income taxes for four straight years," says a disembodied male voice.@@@@1@17@@oe@2-2-2013
20041013@unknown@formal@none@1@S@And then this television commercial, paid for by Republican Rudolph Giuliani's campaign and produced by Roger Ailes, the master of negative TV ads, really gets down to business.@@@@1@28@@oe@2-2-2013
20041014@unknown@formal@none@1@S@Mr. Dinkins, the ad charges, also failed to report his campaign contributions accurately, hid his links to a failing insurance company and paid a convicted kidnapper "through a phony organization with no members, no receipts and no office."@@@@1@38@@oe@2-2-2013
20041015@unknown@formal@none@1@S@"David Dinkins," says the kicker, "Why does he always wait until he's caught?"@@@@1@13@@oe@2-2-2013
20041016@unknown@formal@none@1@S@"Nasty innuendoes," says John Siegal, Mr. Dinkins's issues director, "designed to prosecute a case of political corruption that simply doesn't exist."@@@@1@21@@oe@2-2-2013
20041017@unknown@formal@none@1@S@Stung by the Giuliani ads, Mr. Dinkins's TV consultants, Robert Shrum and David Doak, finally unleashed a negative ad of their own.@@@@1@22@@oe@2-2-2013
20041018@unknown@formal@none@1@S@The screen shows two distorted, unrecognizable photos, presumably of two politicians.@@@@1@11@@oe@2-2-2013
20041019@unknown@formal@none@1@S@"Compare two candidates for mayor," says the announcer.@@@@1@8@@oe@2-2-2013
20041020@unknown@formal@none@1@S@"One says he's for banning cop-killer bullets.@@@@1@7@@oe@2-2-2013
20041021@unknown@formal@none@1@S@The other has opposed a ban on cop-killer bullets.@@@@1@9@@oe@2-2-2013
20041022@unknown@formal@none@1@S@One claims he's pro-choice.@@@@1@4@@oe@2-2-2013
20041023@unknown@formal@none@1@S@The other has opposed a woman's right to choose."@@@@1@9@@oe@2-2-2013
20041024@unknown@formal@none@1@S@"Funny thing," says the kicker, "both these candidates are named Rudolph Giuliani."@@@@1@12@@oe@2-2-2013
20041025@unknown@formal@none@1@S@Who's telling the truth?@@@@1@4@@oe@2-2-2013
20041026@unknown@formal@none@1@S@Everybody -- and nobody.@@@@1@4@@oe@2-2-2013
20041027@unknown@formal@none@1@S@It's a classic situation of ads that are true but not always fully accurate.@@@@1@14@@oe@2-2-2013
20041028@unknown@formal@none@1@S@Mr. Dinkins did fail to file his income taxes for four years, but he insists he voluntarily admitted the "oversight" when he was being considered for a city job.@@@@1@29@@oe@2-2-2013
20041029@unknown@formal@none@1@S@He was on the board of an insurance company with financial problems, but he insists he made no secret of it.@@@@1@21@@oe@2-2-2013
20041030@unknown@formal@none@1@S@The city's Campaign Finance Board has refused to pay Mr. Dinkins $95,142 in matching funds because his campaign records are incomplete.@@@@1@21@@oe@2-2-2013
20041031@unknown@formal@none@1@S@The campaign has blamed these reporting problems on computer errors.@@@@1@10@@oe@2-2-2013
20041032@unknown@formal@none@1@S@And, says Mr. Dinkins, he didn't know the man his campaign paid for a get-out-the-vote effort had been convicted of kidnapping.@@@@1@21@@oe@2-2-2013
20041033@unknown@formal@none@1@S@But, say Mr. Dinkins's managers, he did have an office and his organization did have members.@@@@1@16@@oe@2-2-2013
20041034@unknown@formal@none@1@S@Mr. Giuliani's campaign chairman, Peter Powers, says the Dinkins ad is "deceptive."@@@@1@12@@oe@2-2-2013
20041035@unknown@formal@none@1@S@The other side, he argues, "knows Giuliani has always been pro-choice, even though he has personal reservations.@@@@1@17@@oe@2-2-2013
20041036@unknown@formal@none@1@S@They know he is generally opposed to cop-killer bullets, but that he had some reservations about the language in the legislation."@@@@1@21@@oe@2-2-2013
20041037@unknown@formal@none@1@S@Virginia:@@@@1@1@@oe@2-2-2013
20041038@unknown@formal@none@1@S@Democratic Lt. Gov. Douglas Wilder opened his gubernatorial battle with Republican Marshall Coleman with an abortion commercial produced by Frank Greer that analysts of every political persuasion agree was a tour de force.@@@@1@33@@oe@2-2-2013
20041039@unknown@formal@none@1@S@Against a shot of Monticello superimposed on an American flag, an announcer talks about the "strong tradition of freedom and individual liberty" that Virginians have nurtured for generations.@@@@1@28@@oe@2-2-2013
20041040@unknown@formal@none@1@S@Then, just as an image of the statue of Thomas Jefferson dissolves from the screen, the announcer continues: "On the issue of abortion, Marshall Coleman wants to take away your right to choose and give it to the politicians."@@@@1@39@@oe@2-2-2013
20041041@unknown@formal@none@1@S@That commercial -- which said Mr. Coleman wanted to take away the right of abortion "even in cases of rape and incest," a charge Mr. Coleman denies -- changed the dynamics of the campaign, transforming it, at least in part, into a referendum on abortion.@@@@1@45@@oe@2-2-2013
20041042@unknown@formal@none@1@S@The ad prompted Mr. Coleman, the former Virginia attorney general, to launch a series of advertisements created by Bob Goodman and designed to shake Mr. Wilder's support among the very women who were attracted by the abortion ad.@@@@1@38@@oe@2-2-2013
20041043@unknown@formal@none@1@S@The Coleman counterattack featured a close-up of a young woman in shadows and the ad suggested that she was recalling an unpleasant courtroom ordeal.@@@@1@24@@oe@2-2-2013
20041044@unknown@formal@none@1@S@A voice says, "C'mon, now, don't you have boyfriends?"@@@@1@9@@oe@2-2-2013
20041045@unknown@formal@none@1@S@Then an announcer interjects: "It was Douglas Wilder who introduced a bill to force rape victims age 13 and younger to be interrogated about their private lives by lawyers for accused rapists.@@@@1@32@@oe@2-2-2013
20041046@unknown@formal@none@1@S@So the next time Mr. Wilder talks about the rights of women, ask him about this law he tried to pass."@@@@1@21@@oe@2-2-2013
20041047@unknown@formal@none@1@S@Mr. Wilder did introduce such legislation 17 years ago, but he did so at the request of a constituent, a common legislative technique used by lawmakers.@@@@1@26@@oe@2-2-2013
20041048@unknown@formal@none@1@S@The legislation itself noted that it was introduced "by request," and in 1983 Mr. Wilder introduced a bill to protect rape victims from unfounded interrogation.@@@@1@25@@oe@2-2-2013
20041049@unknown@formal@none@1@S@"People have grown tired of these ads and Coleman has gotten the stigma of being a negative campaigner," says Mark Rozell, a political scientist at Mary Washington College.@@@@1@28@@oe@2-2-2013
20041050@unknown@formal@none@1@S@"Wilder has managed to get across the idea that Coleman will say anything to get elected governor and -- more important -- has been able to put the onus for all the negative campaigning on Coleman."@@@@1@36@@oe@2-2-2013
20041051@unknown@formal@none@1@S@Mr. Coleman said this week that he would devote the remainder of the political season to positive campaigning, but the truce lasted only hours.@@@@1@24@@oe@2-2-2013
20041052@unknown@formal@none@1@S@By Tuesday night, television stations were carrying new ads featuring Mr. Coleman himself raising questions about Mr. Wilder's sensitivity to rape victims.@@@@1@22@@oe@2-2-2013
20041053@unknown@formal@none@1@S@New Jersey:@@@@1@2@@oe@2-2-2013
20041054@unknown@formal@none@1@S@The attacks began when Democratic Rep. James Florio aired an ad featuring a drawing of Pinocchio and a photograph of Mr. Florio's rival, Republican Rep. Jim Courter.@@@@1@27@@oe@2-2-2013
20041055@unknown@formal@none@1@S@"Remember Pinocchio?" says a female voice.@@@@1@6@@oe@2-2-2013
20041056@unknown@formal@none@1@S@"Consider Jim Courter."@@@@1@3@@oe@2-2-2013
20041057@unknown@formal@none@1@S@And then this commercial, produced by Bob Squier, gets down to its own mean and dirty business.@@@@1@17@@oe@2-2-2013
20041058@unknown@formal@none@1@S@Pictures of rusted oil drums swim into focus, and the female voice purrs, "That hazardous waste on his {Mr. Courter's} property -- the neighbors are suing for consumer fraud."@@@@1@29@@oe@2-2-2013
20041059@unknown@formal@none@1@S@And the nose on Mr. Courter's face grows.@@@@1@8@@oe@2-2-2013
20041060@unknown@formal@none@1@S@The only fraud involved, cry Mr. Courter's partisans, is the Florio commercial itself, and so the Courter campaign has responded with its own Pinocchio commercial, produced by Mr. Ailes.@@@@1@29@@oe@2-2-2013
20041061@unknown@formal@none@1@S@In this one, the screen fills with photographs of both candidates.@@@@1@11@@oe@2-2-2013
20041062@unknown@formal@none@1@S@"Who's really lying?" asks a female voice.@@@@1@7@@oe@2-2-2013
20041063@unknown@formal@none@1@S@"Florio's lying," the voice goes on, because "the barrel on Courter's land . . . contained heating oil, was cleaned up and caused no pollution."@@@@1@25@@oe@2-2-2013
20041064@unknown@formal@none@1@S@Mr. Courter's long nose shrinks while Mr. Florio's grows.@@@@1@9@@oe@2-2-2013
20041065@unknown@formal@none@1@S@Who's telling the truth?@@@@1@4@@oe@2-2-2013
20041066@unknown@formal@none@1@S@Stephen Salmore, a political scientist at New Jersey's Eagleton Institute, says it's another example of an ad that's true but not fully accurate.@@@@1@23@@oe@2-2-2013
20041067@unknown@formal@none@1@S@Barrels were dumped on the Courter property, a complaint was made, but there is no evidence the barrels were a serious threat to the environment.@@@@1@25@@oe@2-2-2013
20041068@unknown@formal@none@1@S@Even so, according to Mr. Salmore, the ad was "devastating" because it raised questions about Mr. Courter's credibility.@@@@1@18@@oe@2-2-2013
20041069@unknown@formal@none@1@S@But it's building on a long tradition.@@@@1@7@@oe@2-2-2013
20041070@unknown@formal@none@1@S@In 1966, on route to a re-election rout of Democrat Frank O'Connor, GOP Gov. Nelson Rockefeller of New York appeared in person saying, "If you want to keep the crime rates high, O'Connor is your man."@@@@1@36@@oe@2-2-2013
20042001@unknown@formal@none@1@S@A seat on the Chicago Board of Trade was sold for $350,000, down $16,000 from the previous sale last Friday.@@@@1@20@@oe@2-2-2013
20042002@unknown@formal@none@1@S@Seats currently are quoted at $331,000, bid, and $350,000, asked.@@@@1@10@@oe@2-2-2013
20042003@unknown@formal@none@1@S@The record price for a full membership on the exchange is $550,000, set Aug. 31, 1987.@@@@1@16@@oe@2-2-2013
20043001@unknown@formal@none@1@S@Japanese investment in Southeast Asia is propelling the region toward economic integration.@@@@1@12@@oe@2-2-2013
20043002@unknown@formal@none@1@S@Interviews with analysts and business people in the U.S. suggest that Japanese capital may produce the economic cooperation that Southeast Asian politicians have pursued in fits and starts for decades.@@@@1@30@@oe@2-2-2013
20043003@unknown@formal@none@1@S@But Japan's power in the region also is sparking fears of domination and posing fresh policy questions.@@@@1@17@@oe@2-2-2013
20043004@unknown@formal@none@1@S@The flow of Japanese funds has set in motion "a process whereby these economies will be knitted together by the great Japanese investment machine," says Robert Hormats, vice chairman of Goldman Sachs International Corp.@@@@1@34@@oe@2-2-2013
20043005@unknown@formal@none@1@S@In the past five years, Japanese companies have tripled their commitments in Asia to $5.57 billion.@@@@1@16@@oe@2-2-2013
20043006@unknown@formal@none@1@S@In Thailand, for example, the government's Board of Investment approved $705.6 million of Japanese investment in 1988, 10 times the U.S. investment figure for the year.@@@@1@26@@oe@2-2-2013
20043007@unknown@formal@none@1@S@Japan's commitment in Southeast Asia also includes steep increases in foreign assistance and trade.@@@@1@14@@oe@2-2-2013
20043008@unknown@formal@none@1@S@Asia's other cash-rich countries are following Japan's lead and pumping capital into the region.@@@@1@14@@oe@2-2-2013
20043009@unknown@formal@none@1@S@In Taiwan and South Korea, rising wages are forcing manufacturers to seek other overseas sites for labor-intensive production.@@@@1@18@@oe@2-2-2013
20043010@unknown@formal@none@1@S@These nations, known as Asia's "little tigers," also are contributing to Southeast Asia's integration, but their influence will remain subordinate to Japan's.@@@@1@22@@oe@2-2-2013
20043011@unknown@formal@none@1@S@For recipient countries such as Thailand and Malaysia, the investment will provide needed jobs and spur growth.@@@@1@17@@oe@2-2-2013
20043012@unknown@formal@none@1@S@But Asian nations' harsh memories of their military domination by Japan in the early part of this century make them fearful of falling under Japanese economic hegemony now.@@@@1@28@@oe@2-2-2013
20043013@unknown@formal@none@1@S@Because of budget constraints in Washington, the U.S. encourages Japan to share economic burdens in the region.@@@@1@17@@oe@2-2-2013
20043014@unknown@formal@none@1@S@But it resists yielding political ground.@@@@1@6@@oe@2-2-2013
20043015@unknown@formal@none@1@S@In the coming decade, analysts say, U.S.-Japanese relations will be tested as Tokyo comes to terms with its new status as the region's economic behemoth.@@@@1@25@@oe@2-2-2013
20043016@unknown@formal@none@1@S@Japan's swelling investment in Southeast Asia is part of its economic evolution.@@@@1@12@@oe@2-2-2013
20043017@unknown@formal@none@1@S@In the past decade, Japanese manufacturers concentrated on domestic production for export.@@@@1@12@@oe@2-2-2013
20043018@unknown@formal@none@1@S@In the 1990s, spurred by rising labor costs and the strong yen, these companies will increasingly turn themselves into multinationals with plants around the world.@@@@1@25@@oe@2-2-2013
20043019@unknown@formal@none@1@S@To capture the investment, Southeast Asian nations will move to accommodate Japanese business.@@@@1@13@@oe@2-2-2013
20043020@unknown@formal@none@1@S@These nations' internal decisions "will be made in a way not to offend their largest aid donor, largest private investor and largest lender," says Richard Drobnick, director of the international business and research program at the University of Southern California's Graduate School of Business.@@@@1@44@@oe@2-2-2013
20043021@unknown@formal@none@1@S@Japanese money will help turn Southeast Asia into a more cohesive economic region.@@@@1@13@@oe@2-2-2013
20043022@unknown@formal@none@1@S@But, analysts say, Asian cooperation isn't likely to parallel the European Common Market approach.@@@@1@14@@oe@2-2-2013
20043023@unknown@formal@none@1@S@Rather, Japanese investment will spur integration of certain sectors, says Kent Calder, a specialist in East Asian economies at the Woodrow Wilson School for Public and Internatonal Affairs at Princeton University.@@@@1@31@@oe@2-2-2013
20043024@unknown@formal@none@1@S@In electronics, for example, a Japanese company might make television picture tubes in Japan, assemble the sets in Malaysia and export them to Indonesia.@@@@1@24@@oe@2-2-2013
20043025@unknown@formal@none@1@S@"The effect will be to pull Asia together not as a common market but as an integrated production zone," says Goldman Sachs's Mr. Hormats.@@@@1@24@@oe@2-2-2013
20043026@unknown@formal@none@1@S@Countries in the region also are beginning to consider a framework for closer economic and political ties.@@@@1@17@@oe@2-2-2013
20043027@unknown@formal@none@1@S@The economic and foreign ministers of 12 Asian and Pacific nations will meet in Australia next week to discuss global trade issues as well as regional matters such as transportation and telecommunications.@@@@1@32@@oe@2-2-2013
20043028@unknown@formal@none@1@S@Participants will include the U.S., Australia, Canada, Japan, South Korea and New Zealand as well as the six members of the Association of Southeast Asian Nations -- Thailand, Malaysia, Singapore, Indonesia, the Philippines and Brunei.@@@@1@35@@oe@2-2-2013
20043029@unknown@formal@none@1@S@In addition, the U.S. this year offered its own plan for cooperation around the Pacific rim in a major speech by Secretary of State James Baker, following up a proposal made in January by Australian Prime Minister Bob Hawke.@@@@1@39@@oe@2-2-2013
20043030@unknown@formal@none@1@S@The Baker proposal reasserts Washington's intention to continue playing a leading political role in the region.@@@@1@16@@oe@2-2-2013
20043031@unknown@formal@none@1@S@"In Asia, as in Europe, a new order is taking shape," Mr. Baker said.@@@@1@14@@oe@2-2-2013
20043032@unknown@formal@none@1@S@"The U.S., with its regional friends, must play a crucial role in designing its architecture."@@@@1@15@@oe@2-2-2013
20043033@unknown@formal@none@1@S@But maintaining U.S. influence will be difficult in the face of Japanese dominance in the region.@@@@1@16@@oe@2-2-2013
20043034@unknown@formal@none@1@S@Japan not only outstrips the U.S. in investment flows but also outranks it in trade with most Southeast Asian countries (although the U.S. remains the leading trade partner for all of Asia).@@@@1@32@@oe@2-2-2013
20043035@unknown@formal@none@1@S@Moreover, the Japanese government, now the world's largest aid donor, is pumping far more assistance into the region than the U.S. is.@@@@1@22@@oe@2-2-2013
20043036@unknown@formal@none@1@S@While U.S. officials voice optimism about Japan's enlarged role in Asia, they also convey an undertone of caution.@@@@1@18@@oe@2-2-2013
20043037@unknown@formal@none@1@S@"There's an understanding on the part of the U.S. that Japan has to expand its functions" in Asia, says J. Michael Farren, undersecretary of commerce for trade.@@@@1@27@@oe@2-2-2013
20043038@unknown@formal@none@1@S@"If they approach it with a benevolent, altruistic attitude, there will be a net gain for everyone."@@@@1@17@@oe@2-2-2013
20043039@unknown@formal@none@1@S@Some Asian nations are apprehensive about Washington's demand that Tokyo step up its military spending to ease the U.S. security burden in the region.@@@@1@24@@oe@2-2-2013
20043040@unknown@formal@none@1@S@The issue is further complicated by uncertainty over the future of the U.S.'s leases on military bases in the Philippines and by a possible U.S. troop reduction in South Korea.@@@@1@30@@oe@2-2-2013
20043041@unknown@formal@none@1@S@Many Asians regard a U.S. presence as a desirable counterweight to Japanese influence.@@@@1@13@@oe@2-2-2013
20043042@unknown@formal@none@1@S@"No one wants the U.S. to pick up its marbles and go home," Mr. Hormats says.@@@@1@16@@oe@2-2-2013
20043043@unknown@formal@none@1@S@For their part, Taiwan and South Korea are expected to step up their own investments in the next decade to try to slow the Japanese juggernaut.@@@@1@26@@oe@2-2-2013
20043044@unknown@formal@none@1@S@"They don't want Japan to monopolize the region and sew it up," says Chong-sik Lee, professor of East Asian politics at the University of Pennsylvania.@@@@1@25@@oe@2-2-2013
20044001@unknown@formal@none@1@S@Cathryn Rice could hardly believe her eyes.@@@@1@7@@oe@2-2-2013
20044002@unknown@formal@none@1@S@While giving the Comprehensive Test of Basic Skills to ninth graders at Greenville High School last March 16, she spotted a student looking at crib sheets.@@@@1@26@@oe@2-2-2013
20044003@unknown@formal@none@1@S@She had seen cheating before, but these notes were uncanny.@@@@1@10@@oe@2-2-2013
20044004@unknown@formal@none@1@S@"A stockbroker is an example of a profession in trade and finance. . . .@@@@1@15@@oe@2-2-2013
20044005@unknown@formal@none@1@S@At the end of World War II, Germany surrendered before Japan. . . .@@@@1@14@@oe@2-2-2013
20044006@unknown@formal@none@1@S@The Senate-House conference committee is used when a bill is passed by the House and Senate in different forms."@@@@1@19@@oe@2-2-2013
20044007@unknown@formal@none@1@S@Virtually word for word, the notes matched questions and answers on the social-studies section of the test the student was taking.@@@@1@21@@oe@2-2-2013
20044008@unknown@formal@none@1@S@In fact, the student had the answers to almost all of the 40 questions in that section.@@@@1@17@@oe@2-2-2013
20044009@unknown@formal@none@1@S@The student surrendered the notes, but not without a protest.@@@@1@10@@oe@2-2-2013
20044010@unknown@formal@none@1@S@"My teacher said it was OK for me to use the notes on the test," he said.@@@@1@17@@oe@2-2-2013
20044011@unknown@formal@none@1@S@The teacher in question was Nancy Yeargin -- considered by many students and parents to be one of the best at the school.@@@@1@23@@oe@2-2-2013
20044012@unknown@formal@none@1@S@Confronted, Mrs. Yeargin admitted she had given the questions and answers two days before the examination to two low-ability geography classes.@@@@1@21@@oe@2-2-2013
20044013@unknown@formal@none@1@S@She had gone so far as to display the questions on an overhead projector and underline the answers.@@@@1@18@@oe@2-2-2013
20044014@unknown@formal@none@1@S@Mrs. Yeargin was fired and prosecuted under an unusual South Carolina law that makes it a crime to breach test security.@@@@1@21@@oe@2-2-2013
20044015@unknown@formal@none@1@S@In September, she pleaded guilty and paid a $500 fine.@@@@1@10@@oe@2-2-2013
20044016@unknown@formal@none@1@S@Her alternative was 90 days in jail.@@@@1@7@@oe@2-2-2013
20044017@unknown@formal@none@1@S@Her story is partly one of personal downfall.@@@@1@8@@oe@2-2-2013
20044018@unknown@formal@none@1@S@She was an unstinting teacher who won laurels and inspired students, but she will probably never teach again.@@@@1@18@@oe@2-2-2013
20044019@unknown@formal@none@1@S@In her wake she left the bitterness and anger of a principal who was her friend and now calls her a betrayer; of colleagues who say she brought them shame; of students and parents who defended her and insist she was treated harshly; and of school-district officials stunned that despite the bald-faced nature of her actions, she became something of a local martyr.@@@@1@63@@oe@2-2-2013
20044020@unknown@formal@none@1@S@Mrs. Yeargin's case also casts some light on the dark side of school reform, where pressures on teachers are growing and where high-stakes testing has enhanced the temptation to cheat.@@@@1@30@@oe@2-2-2013
20044021@unknown@formal@none@1@S@The 1987 statute Mrs. Yeargin violated was designed to enforce provisions of South Carolina's school-improvement laws.@@@@1@16@@oe@2-2-2013
20044022@unknown@formal@none@1@S@Prosecutors alleged that she was trying to bolster students' scores to win a bonus under the state's 1984 Education Improvement Act.@@@@1@21@@oe@2-2-2013
20044023@unknown@formal@none@1@S@The bonus depended on her ability to produce higher student-test scores.@@@@1@11@@oe@2-2-2013
20044024@unknown@formal@none@1@S@"There is incredible pressure on school systems and teachers to raise test scores," says Walt Haney, an education professor and testing specialist at Boston College.@@@@1@25@@oe@2-2-2013
20044025@unknown@formal@none@1@S@"So efforts to beat the tests are also on the rise."@@@@1@11@@oe@2-2-2013
20044026@unknown@formal@none@1@S@And most disturbing, it is educators, not students, who are blamed for much of the wrongdoing.@@@@1@16@@oe@2-2-2013
20044027@unknown@formal@none@1@S@A 50-state study released in September by Friends for Education, an Albuquerque, N.M., school-research group, concluded that "outright cheating by American educators" is "common."@@@@1@24@@oe@2-2-2013
20044028@unknown@formal@none@1@S@The group says standardized achievement test scores are greatly inflated because teachers often "teach the test" as Mrs. Yeargin did, although most are never caught.@@@@1@25@@oe@2-2-2013
20044029@unknown@formal@none@1@S@Evidence of widespread cheating has surfaced in several states in the last year or so.@@@@1@15@@oe@2-2-2013
20044030@unknown@formal@none@1@S@California's education department suspects adult responsibility for erasures at 40 schools that changed wrong answers to right ones on a statewide test.@@@@1@22@@oe@2-2-2013
20044031@unknown@formal@none@1@S@After numerous occurrences of questionable teacher help to students, Texas is revising its security practices.@@@@1@15@@oe@2-2-2013
20044032@unknown@formal@none@1@S@And sales of test-coaching booklets for classroom instruction are booming.@@@@1@10@@oe@2-2-2013
20044033@unknown@formal@none@1@S@These materials, including Macmillan/McGraw-Hill School Publishing Co.'s Scoring High and Learning Materials -- are nothing short of sophisticated crib sheets, according to some recent academic research.@@@@1@26@@oe@2-2-2013
20044034@unknown@formal@none@1@S@By using them, teachers -- with administrative blessing -- telegraph to students beforehand the precise areas on which a test will concentrate, and sometimes give away a few exact questions and answers.@@@@1@32@@oe@2-2-2013
20044035@unknown@formal@none@1@S@Use of Scoring High is widespread in South Carolina and common in Greenville County, Mrs. Yeargin's school district.@@@@1@18@@oe@2-2-2013
20044036@unknown@formal@none@1@S@Experts say there isn't another state in the country where tests mean as much as they do in South Carolina.@@@@1@20@@oe@2-2-2013
20044037@unknown@formal@none@1@S@Under the state's Education Improvement Act, low test scores can block students' promotions or force entire districts into wrenching, state-supervised "interventions" that can mean firings.@@@@1@25@@oe@2-2-2013
20044038@unknown@formal@none@1@S@High test scores, on the other hand, bring recognition and extra money -- a new computer lab for a school, grants for special projects, a bonus for the superintendent.@@@@1@29@@oe@2-2-2013
20044039@unknown@formal@none@1@S@And South Carolina says it is getting results.@@@@1@8@@oe@2-2-2013
20044040@unknown@formal@none@1@S@Since the reforms went in place, for example, no state has posted a higher rate of improvement on the Scholastic Aptitude Test than South Carolina, although the state still posts the lowest average score of the about 21 states who use the SAT as the primary college entrance examination.@@@@1@49@@oe@2-2-2013
20044041@unknown@formal@none@1@S@Critics say South Carolina is paying a price by stressing improved test scores so much.@@@@1@15@@oe@2-2-2013
20044042@unknown@formal@none@1@S@Friends of Education rates South Carolina one of the worst seven states in its study on academic cheating.@@@@1@18@@oe@2-2-2013
20044043@unknown@formal@none@1@S@Says the organization's founder, John Cannell, prosecuting Mrs. Yeargin is "a way for administrators to protect themselves and look like they take cheating seriously, when in fact they don't take it seriously at all."@@@@1@34@@oe@2-2-2013
20044044@unknown@formal@none@1@S@Paul Sandifer, director of testing for the South Carolina department of education, says Mr. Cannell's allegations of cheating "are purely without foundation," and based on unfair inferences.@@@@1@27@@oe@2-2-2013
20044045@unknown@formal@none@1@S@Partly because of worries about potential abuse, however, he says the state will begin keeping closer track of achievement-test preparation booklets next spring.@@@@1@23@@oe@2-2-2013
20044046@unknown@formal@none@1@S@South Carolina's reforms were designed for schools like Greenville High School.@@@@1@11@@oe@2-2-2013
20044047@unknown@formal@none@1@S@Standing on a shaded hill in a run-down area of this old textile city, the school has educated many of South Carolina's best and brightest, including the state's last two governors, Nobel Prize winning physicist Charles Townes and actress Joanne Woodward.@@@@1@41@@oe@2-2-2013
20044048@unknown@formal@none@1@S@But by the early 1980s, its glory had faded like the yellow bricks of its broad facade.@@@@1@17@@oe@2-2-2013
20044049@unknown@formal@none@1@S@"It was full of violence and gangs and kids cutting class," says Linda Ward, the school's principal.@@@@1@17@@oe@2-2-2013
20044050@unknown@formal@none@1@S@"Crime was awful, test scores were low, and there was no enrollment in honors programs."@@@@1@15@@oe@2-2-2013
20044051@unknown@formal@none@1@S@Mrs. Ward took over in 1986, becoming the school's seventh principal in 15 years.@@@@1@14@@oe@2-2-2013
20044052@unknown@formal@none@1@S@Her immediate predecessor suffered a nervous breakdown.@@@@1@7@@oe@2-2-2013
20044053@unknown@formal@none@1@S@Prior to his term, a teacher bled to death in the halls, stabbed by a student.@@@@1@16@@oe@2-2-2013
20044054@unknown@formal@none@1@S@Academically, Mrs. Ward says, the school was having trouble serving in harmony its two disparate, and evenly split, student groups: a privileged white elite from old monied neighborhoods and blacks, many of them poor, from run-down, inner city neighborhoods.@@@@1@39@@oe@2-2-2013
20044055@unknown@formal@none@1@S@Mrs. Ward resolved to clean out "deadwood" in the school's faculty and restore safety, and she also had some new factors working in her behalf.@@@@1@25@@oe@2-2-2013
20044056@unknown@formal@none@1@S@One was statewide school reform, which raised overall educational funding and ushered in a new public spirit for school betterment.@@@@1@20@@oe@2-2-2013
20044057@unknown@formal@none@1@S@Another was Nancy Yeargin, who came to Greenville in 1985, full of the energy and ambitions that reformers wanted to reward.@@@@1@21@@oe@2-2-2013
20044058@unknown@formal@none@1@S@"Being a teacher just became my life," says the 37-year-old Mrs. Yeargin, a teacher for 12 years before her dismissal. "@@@@1@21@@oe@2-2-2013
20044059@unknown@formal@none@1@S@I loved the school, its history.@@@@1@6@@oe@2-2-2013
20044060@unknown@formal@none@1@S@I even dreamt about school and new things to do with my students."@@@@1@13@@oe@2-2-2013
20044061@unknown@formal@none@1@S@While Mrs. Ward fired and restructured staff and struggled to improve curriculum, Mrs. Yeargin worked 14-hour days and fast became a student favorite.@@@@1@23@@oe@2-2-2013
20044062@unknown@formal@none@1@S@In 1986-87 and 1987-88, she applied for and won bonus pay under the reform law.@@@@1@15@@oe@2-2-2013
20044063@unknown@formal@none@1@S@Encouraged by Mrs. Ward, Mrs. Yeargin taught honor students in the state "teacher cadet" program, a reform creation designed to encourage good students to consider teaching as a career.@@@@1@29@@oe@2-2-2013
20044064@unknown@formal@none@1@S@She won grant money for the school, advised cheerleaders, ran the pep club, proposed and taught a new "Cultural Literacy" class in Western Civilization and was chosen by the school PTA as "Teacher of the Year."@@@@1@36@@oe@2-2-2013
20044065@unknown@formal@none@1@S@"She was an inspirational lady; she had it all together," says Laura Dobson, a freshman at the University of South Carolina who had Mrs. Yeargin in the teacher-cadet class last year.@@@@1@31@@oe@2-2-2013
20044066@unknown@formal@none@1@S@She says that because of Mrs. Yeargin she gave up ambitions in architecture and is studying to become a teacher.@@@@1@20@@oe@2-2-2013
20044067@unknown@formal@none@1@S@Mary Beth Marchand, a Greenville 11th grader, also says Mrs. Yeargin inspired her to go into education.@@@@1@17@@oe@2-2-2013
20044068@unknown@formal@none@1@S@"She taught us more in Western Civilization than I've ever learned in other classes," says Kelli Green, a Greenville senior.@@@@1@20@@oe@2-2-2013
20044069@unknown@formal@none@1@S@In the classroom, students say, Mrs. Yeargin distinguished herself by varying teaching approaches -- forcing kids to pair up to complete classroom work or using college-bowl type competitions.@@@@1@28@@oe@2-2-2013
20044070@unknown@formal@none@1@S@On weekends, she came to work to prepare study plans or sometimes, even to polish the furniture in her classroom.@@@@1@20@@oe@2-2-2013
20044071@unknown@formal@none@1@S@"She just never gave it up," says Mary Marchand, Mary Beth's mother.@@@@1@12@@oe@2-2-2013
20044072@unknown@formal@none@1@S@"You'd see her correcting homework in the stands at a football game."@@@@1@12@@oe@2-2-2013
20044073@unknown@formal@none@1@S@Some fellow teachers, however, viewed Mrs. Yeargin as cocky and too yielding to students.@@@@1@14@@oe@2-2-2013
20044074@unknown@formal@none@1@S@Mrs. Ward says she often defended her to colleagues who called her a grandstander.@@@@1@14@@oe@2-2-2013
20044075@unknown@formal@none@1@S@Pressures began to build.@@@@1@4@@oe@2-2-2013
20044076@unknown@formal@none@1@S@Friends told her she was pushing too hard.@@@@1@8@@oe@2-2-2013
20044077@unknown@formal@none@1@S@Because of deteriorating hearing, she told colleagues she feared she might not be able to teach much longer.@@@@1@18@@oe@2-2-2013
20044078@unknown@formal@none@1@S@Mrs. Yeargin's extra work was also helping her earn points in the state's incentive-bonus program.@@@@1@15@@oe@2-2-2013
20044079@unknown@formal@none@1@S@But the most important source of points was student improvement on tests.@@@@1@12@@oe@2-2-2013
20044080@unknown@formal@none@1@S@Huge gains by her students in 1987 and 1988 meant a total of $5,000 in bonuses over two years -- a meaningful addition to her annual salary of $23,000.@@@@1@29@@oe@2-2-2013
20044081@unknown@formal@none@1@S@Winning a bonus for a third year wasn't that important to her, Mrs. Yeargin insists.@@@@1@15@@oe@2-2-2013
20044082@unknown@formal@none@1@S@But others at Greenville High say she was eager to win -- if not for money, then for pride and recognition.@@@@1@21@@oe@2-2-2013
20044083@unknown@formal@none@1@S@Mary Elizabeth Ariail, another social-studies teacher, says she believed Mrs. Yeargin wanted to keep her standing high so she could get a new job that wouldn't demand good hearing.@@@@1@29@@oe@2-2-2013
20044084@unknown@formal@none@1@S@Indeed, Mrs. Yeargin was interested in a possible job with the state teacher cadet program.@@@@1@15@@oe@2-2-2013
20044085@unknown@formal@none@1@S@Last March, after attending a teaching seminar in Washington, Mrs. Yeargin says she returned to Greenville two days before annual testing feeling that she hadn't prepared her low-ability geography students adequately.@@@@1@31@@oe@2-2-2013
20044086@unknown@formal@none@1@S@When test booklets were passed out 48 hours ahead of time, she says she copied questions in the social studies section and gave the answers to students.@@@@1@27@@oe@2-2-2013
20044087@unknown@formal@none@1@S@Mrs. Yeargin admits she made a big mistake but insists her motives were correct.@@@@1@14@@oe@2-2-2013
20044088@unknown@formal@none@1@S@"I was trying to help kids in an unfair testing situation," she says.@@@@1@13@@oe@2-2-2013
20044089@unknown@formal@none@1@S@"Only five of the 40 questions were geography questions.@@@@1@9@@oe@2-2-2013
20044090@unknown@formal@none@1@S@The rest were history, sociology, finance -- subjects they never had."@@@@1@11@@oe@2-2-2013
20044091@unknown@formal@none@1@S@Mrs. Yeargin says that she also wanted to help lift Greenville High School's overall test scores, usually near the bottom of 14 district high schools in rankings carried annually by local newspapers.@@@@1@32@@oe@2-2-2013
20044092@unknown@formal@none@1@S@Mostly, she says, she wanted to prevent the damage to self-esteem that her low-ability students would suffer from doing badly on the test.@@@@1@23@@oe@2-2-2013
20044093@unknown@formal@none@1@S@"These kids broke my heart," she says.@@@@1@7@@oe@2-2-2013
20044094@unknown@formal@none@1@S@"A whole day goes by and no one even knows they're alive.@@@@1@12@@oe@2-2-2013
20044095@unknown@formal@none@1@S@They desperately needed somebody who showed they cared for them, who loved them.@@@@1@13@@oe@2-2-2013
20044096@unknown@formal@none@1@S@The last thing they needed was another drag-down blow."@@@@1@9@@oe@2-2-2013
20044097@unknown@formal@none@1@S@School officials and prosecutors say Mrs. Yeargin is lying.@@@@1@9@@oe@2-2-2013
20044098@unknown@formal@none@1@S@They found students in an advanced class a year earlier who said she gave them similar help, although because the case wasn't tried in court, this evidence was never presented publicly.@@@@1@31@@oe@2-2-2013
20044099@unknown@formal@none@1@S@"That pretty much defeats any inkling that she was out to help the poor underprivileged child," says Joe Watson, the prosecutor in the case, who is also president of Greenville High School's alumni association.@@@@1@34@@oe@2-2-2013
20044100@unknown@formal@none@1@S@Mrs. Yeargin concedes that she went over the questions in the earlier class, adding: "I wanted to help all" students.@@@@1@20@@oe@2-2-2013
20044101@unknown@formal@none@1@S@Mr. Watson says Mrs. Yeargin never complained to school officials that the standardized test was unfair.@@@@1@16@@oe@2-2-2013
20044102@unknown@formal@none@1@S@"Do I have much sympathy for her?" Mr. Watson asks.@@@@1@10@@oe@2-2-2013
20044103@unknown@formal@none@1@S@"Not really.@@@@1@2@@oe@2-2-2013
20044104@unknown@formal@none@1@S@I believe in the system.@@@@1@5@@oe@2-2-2013
20044105@unknown@formal@none@1@S@I believe you have to use the system to change it.@@@@1@11@@oe@2-2-2013
20044106@unknown@formal@none@1@S@What she did was like taking the law into your own hands."@@@@1@12@@oe@2-2-2013
20044107@unknown@formal@none@1@S@Mrs. Ward says that when the cheating was discovered, she wanted to avoid the morale-damaging public disclosure that a trial would bring.@@@@1@22@@oe@2-2-2013
20044108@unknown@formal@none@1@S@She says she offered Mrs. Yeargin a quiet resignation and thought she could help save her teaching certificate.@@@@1@18@@oe@2-2-2013
20044109@unknown@formal@none@1@S@Mrs. Yeargin declined.@@@@1@3@@oe@2-2-2013
20044110@unknown@formal@none@1@S@"She said something like `You just want to make it easy for the school.'@@@@1@14@@oe@2-2-2013
20044111@unknown@formal@none@1@S@I was dumbfounded," Mrs. Ward recalls.@@@@1@6@@oe@2-2-2013
20044112@unknown@formal@none@1@S@"It was like someone had turned a knife in me."@@@@1@10@@oe@2-2-2013
20044113@unknown@formal@none@1@S@To the astonishment and dismay of her superiors and legal authorities -- and perhaps as a measure of the unpopularity of standardized tests -- Mrs. Yeargin won widespread local support.@@@@1@30@@oe@2-2-2013
20044114@unknown@formal@none@1@S@The school-board hearing at which she was dismissed was crowded with students, teachers and parents who came to testify on her behalf.@@@@1@22@@oe@2-2-2013
20044115@unknown@formal@none@1@S@Supportive callers decried unfair testing, not Mrs. Yeargin, on a local radio talk show on which she appeared.@@@@1@18@@oe@2-2-2013
20044116@unknown@formal@none@1@S@The show didn't give the particulars of Mrs. Yeargin's offense, saying only that she helped students do better on the test.@@@@1@21@@oe@2-2-2013
20044117@unknown@formal@none@1@S@"The message to the board of education out of all this is we've got to take a serious look at how we're doing our curriculum and our testing policies in this state," said the talk-show host.@@@@1@36@@oe@2-2-2013
20044118@unknown@formal@none@1@S@Editorials in the Greenville newspaper allowed that Mrs. Yeargin was wrong, but also said the case showed how testing was being overused.@@@@1@22@@oe@2-2-2013
20044119@unknown@formal@none@1@S@The radio show "enraged us," says Mrs. Ward.@@@@1@8@@oe@2-2-2013
20044120@unknown@formal@none@1@S@Partly because of the show, Mr. Watson says, the district decided not to recommend Mrs. Yeargin for a first-time offenders program that could have expunged the charges and the conviction from her record.@@@@1@33@@oe@2-2-2013
20044121@unknown@formal@none@1@S@And legal authorities cranked up an investigation worthy of a murder case.@@@@1@12@@oe@2-2-2013
20044122@unknown@formal@none@1@S@Over 50 witnesses, mostly students, were interviewed.@@@@1@7@@oe@2-2-2013
20044123@unknown@formal@none@1@S@At Greenville High School, meanwhile, some students -- especially on the cheerleading squad -- were crushed.@@@@1@16@@oe@2-2-2013
20044124@unknown@formal@none@1@S@"It's hard to explain to a 17-year-old why someone they like had to go," says Mrs. Ward.@@@@1@17@@oe@2-2-2013
20044125@unknown@formal@none@1@S@Soon, T-shirts appeared in the corridors that carried the school's familiar red-and-white GHS logo on the front.@@@@1@17@@oe@2-2-2013
20044126@unknown@formal@none@1@S@On the back, the shirts read, "We have all the answers."@@@@1@11@@oe@2-2-2013
20044127@unknown@formal@none@1@S@Many colleagues are angry at Mrs. Yeargin.@@@@1@7@@oe@2-2-2013
20044128@unknown@formal@none@1@S@"She did a lot of harm," says Cathryn Rice, who had discovered the crib notes.@@@@1@15@@oe@2-2-2013
20044129@unknown@formal@none@1@S@"We work damn hard at what we do for damn little pay, and what she did cast unfair aspersions on all of us."@@@@1@23@@oe@2-2-2013
20044130@unknown@formal@none@1@S@But several teachers also say the incident casts doubt on the wisdom of evaluating teachers or schools by using standardized test scores.@@@@1@22@@oe@2-2-2013
20044131@unknown@formal@none@1@S@Says Gayle Key, a mathematics teacher, "The incentive pay thing has opened up a can of worms.@@@@1@17@@oe@2-2-2013
20044132@unknown@formal@none@1@S@There may be others doing what she did."@@@@1@8@@oe@2-2-2013
20044133@unknown@formal@none@1@S@Mrs. Yeargin says she pleaded guilty because she realized it would no longer be possible to win reinstatement, and because she was afraid of further charges.@@@@1@26@@oe@2-2-2013
20044134@unknown@formal@none@1@S@Mrs. Ward, for one, was relieved.@@@@1@6@@oe@2-2-2013
20044135@unknown@formal@none@1@S@Despite the strong evidence against Mrs. Yeargin, popular sentiment was so strong in her favor, Mrs. Ward says, that "I'm afraid a jury wouldn't have convicted her.@@@@1@27@@oe@2-2-2013
20045001@unknown@formal@none@1@S@Since chalk first touched slate, schoolchildren have wanted to know: What's on the test?@@@@1@14@@oe@2-2-2013
20045002@unknown@formal@none@1@S@These days, students can often find the answer in test-coaching workbooks and worksheets their teachers give them in the weeks prior to taking standardized achievement tests.@@@@1@26@@oe@2-2-2013
20045003@unknown@formal@none@1@S@The mathematics section of the widely used California Achievement Test asks fifth graders: "What is another name for the Roman numeral IX?"@@@@1@22@@oe@2-2-2013
20045004@unknown@formal@none@1@S@It also asks them to add two-sevenths and three-sevenths.@@@@1@9@@oe@2-2-2013
20045005@unknown@formal@none@1@S@Worksheets in a test-practice kit called Learning Materials, sold to schools across the country by Macmillan/McGraw-Hill School Publishing Co., contain the same questions.@@@@1@23@@oe@2-2-2013
20045006@unknown@formal@none@1@S@In many other instances, there is almost no difference between the real test and Learning Materials.@@@@1@16@@oe@2-2-2013
20045007@unknown@formal@none@1@S@What's more, the test and Learning Materials are both produced by the same company, Macmillan/McGraw-Hill, a joint venture of McGraw-Hill Inc. and Macmillan's parent, Britain's Maxwell Communication Corp.@@@@1@28@@oe@2-2-2013
20045008@unknown@formal@none@1@S@Close parallels between tests and practice tests are common, some educators and researchers say.@@@@1@14@@oe@2-2-2013
20045009@unknown@formal@none@1@S@Test-preparation booklets, software and worksheets are a booming publishing subindustry.@@@@1@10@@oe@2-2-2013
20045010@unknown@formal@none@1@S@But some practice products are so similar to the tests themselves that critics say they represent a form of school-sponsored cheating.@@@@1@21@@oe@2-2-2013
20045011@unknown@formal@none@1@S@"If I took {these preparation booklets} into my classroom, I'd have a hard time justifying to my students and parents that it wasn't cheating," says John Kaminski, a Traverse City, Mich., teacher who has studied test coaching.@@@@1@37@@oe@2-2-2013
20045012@unknown@formal@none@1@S@He and other critics say such coaching aids can defeat the purpose of standardized tests, which is to gauge learning progress.@@@@1@21@@oe@2-2-2013
20045013@unknown@formal@none@1@S@"It's as if France decided to give only French history questions to students in a European history class, and when everybody aces the test, they say their kids are good in European history," says John Cannell, an Albuquerque, N.M., psychiatrist and founder of an educational research organization, Friends for Education, which has studied standardized testing.@@@@1@55@@oe@2-2-2013
20045014@unknown@formal@none@1@S@Standardized achievement tests are given about 10 million times a year across the country to students generally from kindergarten through eighth grade.@@@@1@22@@oe@2-2-2013
20045015@unknown@formal@none@1@S@The most widely used of these tests are Macmillan/McGraw's CAT and Comprehensive Test of Basic Skills; the Iowa Test of Basic Skills, by Houghton Mifflin Co.; and Harcourt Brace Jovanovich Inc.'s Metropolitan Achievement Test and Stanford Achievement Test.@@@@1@38@@oe@2-2-2013
20045016@unknown@formal@none@1@S@Sales figures of the test-prep materials aren't known, but their reach into schools is significant.@@@@1@15@@oe@2-2-2013
20045017@unknown@formal@none@1@S@In Arizona, California, Florida, Louisiana, Maryland, New Jersey, South Carolina and Texas, educators say they are common classroom tools.@@@@1@19@@oe@2-2-2013
20045018@unknown@formal@none@1@S@Macmillan/McGraw says "well over 10 million" of its Scoring High test-preparation books have been sold since their introduction 10 years ago, with most sales in the last five years.@@@@1@29@@oe@2-2-2013
20045019@unknown@formal@none@1@S@About 20,000 sets of Learning Materials teachers' binders have also been sold in the past four years.@@@@1@17@@oe@2-2-2013
20045020@unknown@formal@none@1@S@The materials in each set reach about 90 students.@@@@1@9@@oe@2-2-2013
20045021@unknown@formal@none@1@S@Scoring High and Learning Materials are the best-selling preparation tests.@@@@1@10@@oe@2-2-2013
20045022@unknown@formal@none@1@S@Michael Kean, director of marketing for CTB Macmillan/McGraw, the Macmillan/McGraw division that publishes Learning Materials, says it isn't aimed at improving test scores.@@@@1@23@@oe@2-2-2013
20045023@unknown@formal@none@1@S@He also asserted that exact questions weren't replicated.@@@@1@8@@oe@2-2-2013
20045024@unknown@formal@none@1@S@When referred to the questions that matched, he said it was coincidental.@@@@1@12@@oe@2-2-2013
20045025@unknown@formal@none@1@S@Mr. Kaminski, the schoolteacher, and William Mehrens, a Michigan State University education professor, concluded in a study last June that CAT test versions of Scoring High and Learning Materials shouldn't be used in the classroom because of their similarity to the actual test.@@@@1@43@@oe@2-2-2013
20045026@unknown@formal@none@1@S@They devised a 69-point scale -- awarding one point for each subskill measured on the CAT test -- to rate the closeness of test preparatives to the fifth-grade CAT.@@@@1@29@@oe@2-2-2013
20045027@unknown@formal@none@1@S@Because many of these subskills -- the symmetry of geometrical figures, metric measurement of volume, or pie and bar graphs, for example -- are only a small part of the total fifth-grade curriculum, Mr. Kaminski says, the preparation kits wouldn't replicate too many, if their real intent was general instruction or even general familiarization with test procedures.@@@@1@57@@oe@2-2-2013
20045028@unknown@formal@none@1@S@But Learning Materials matched on 66.5 of 69 subskills.@@@@1@9@@oe@2-2-2013
20045029@unknown@formal@none@1@S@Scoring High matched on 64.5.@@@@1@5@@oe@2-2-2013
20045030@unknown@formal@none@1@S@In CAT sections where students' knowledge of two-letter consonant sounds is tested, the authors noted that Scoring High concentrated on the same sounds that the test does -- to the exclusion of other sounds that fifth graders should know.@@@@1@39@@oe@2-2-2013
20045031@unknown@formal@none@1@S@Learning Materials for the fifth-grade contains at least a dozen examples of exact matches or close parallels to test items.@@@@1@20@@oe@2-2-2013
20045032@unknown@formal@none@1@S@Rick Brownell, senior editor of Scoring High, says that Messrs. Kaminski and Mehrens are ignoring "the need students have for becoming familiar with tests and testing format."@@@@1@27@@oe@2-2-2013
20045033@unknown@formal@none@1@S@He said authors of Scoring High "scrupulously avoid" replicating exact questions, but he doesn't deny that some items are similar.@@@@1@20@@oe@2-2-2013
20045034@unknown@formal@none@1@S@When Scoring High first came out in 1979, it was a publication of Random House.@@@@1@15@@oe@2-2-2013
20045035@unknown@formal@none@1@S@McGraw-Hill was outraged.@@@@1@3@@oe@2-2-2013
20045036@unknown@formal@none@1@S@In a 1985 advisory to educators, McGraw-Hill said Scoring High shouldn't be used because it represented a "parallel form" of the CAT and CTBS tests.@@@@1@25@@oe@2-2-2013
20045037@unknown@formal@none@1@S@But in 1988, McGraw-Hill purchased the Random House unit that publishes Scoring High, which later became part of Macmillan/McGraw.@@@@1@19@@oe@2-2-2013
20045038@unknown@formal@none@1@S@Messrs. Brownell and Kean say they are unaware of any efforts by McGraw-Hill to modify or discontinue Scoring High.@@@@1@19@@oe@2-2-2013
20046001@unknown@formal@none@1@S@Alleghany Corp. said it completed the acquisition of Sacramento Savings & Loan Association from the H.N. & Frances C. Berger Foundation for $150 million.@@@@1@24@@oe@2-2-2013
20046002@unknown@formal@none@1@S@The Sacramento-based S&L, which has 44 branch offices in north central California, had assets of $2.4 billion at the end of September.@@@@1@22@@oe@2-2-2013
20046003@unknown@formal@none@1@S@New York-based Alleghany is an insurance and financial services concern.@@@@1@10@@oe@2-2-2013
20046004@unknown@formal@none@1@S@The purchase price includes two ancillary companies.@@@@1@7@@oe@2-2-2013
20047001@unknown@formal@none@1@S@The Department of Health and Human Services plans to extend its moratorium on federal funding of research involving fetal-tissue transplants.@@@@1@20@@oe@2-2-2013
20047002@unknown@formal@none@1@S@Medical researchers believe the transplantation of small amounts of fetal tissue into humans could help treat juvenile diabetes and such degenerative diseases as Alzheimer's, Parkinson's and Huntington's.@@@@1@27@@oe@2-2-2013
20047003@unknown@formal@none@1@S@But anti-abortionists oppose such research because they worry that the development of therapies using fetal-tissue transplants could lead to an increase in abortions.@@@@1@23@@oe@2-2-2013
20047004@unknown@formal@none@1@S@James Mason, assistant secretary for health, said the ban on federal funding of fetal-tissue transplant research "should be continued indefinitely."@@@@1@20@@oe@2-2-2013
20047005@unknown@formal@none@1@S@He said the ban won't stop privately funded tissue-transplant research or federally funded fetal-tissue research that doesn't involve transplants.@@@@1@19@@oe@2-2-2013
20047006@unknown@formal@none@1@S@Department officials say that HHS Secretary Louis Sullivan will support Dr. Mason's ruling, which will be issued soon in the form of a letter to the acting director of the National Institutes of Health.@@@@1@34@@oe@2-2-2013
20047007@unknown@formal@none@1@S@Both Dr. Mason and Dr. Sullivan oppose federal funding for abortion, as does President Bush, except in cases where a woman's life is threatened.@@@@1@24@@oe@2-2-2013
20047008@unknown@formal@none@1@S@The controversy began in 1987 when the National Institutes of Health, aware of the policy implications of its research, asked for an HHS review of its plan to implant fetal tissue into the brain of a patient suffering from Parkinson's disease.@@@@1@41@@oe@2-2-2013
20047009@unknown@formal@none@1@S@The department placed a moratorium on the research, pending a review of scientific, legal and ethical issues.@@@@1@17@@oe@2-2-2013
20047010@unknown@formal@none@1@S@A majority of an NIH-appointed panel recommended late last year that the research continue under carefully controlled conditions, but the issue became embroiled in politics as anti-abortion groups continued to oppose federal funding.@@@@1@33@@oe@2-2-2013
20047011@unknown@formal@none@1@S@The dispute has hampered the administration's efforts to recruit prominent doctors to fill prestigious posts at the helm of the NIH and the Centers for Disease Control.@@@@1@27@@oe@2-2-2013
20047012@unknown@formal@none@1@S@Several candidates have withdrawn their names from consideration after administration officials asked them for their views on abortion and fetal-tissue transplants.@@@@1@21@@oe@2-2-2013
20047013@unknown@formal@none@1@S@Antonio Novello, whom Mr. Bush nominated to serve as surgeon general, reportedly has assured the administration that she opposes abortion.@@@@1@20@@oe@2-2-2013
20047014@unknown@formal@none@1@S@Dr. Novello is deputy director of the National Institute of Child Health and Human Development.@@@@1@15@@oe@2-2-2013
20047015@unknown@formal@none@1@S@Some researchers have charged that the administration is imposing new ideological tests for top scientific posts.@@@@1@16@@oe@2-2-2013
20047016@unknown@formal@none@1@S@Earlier this week, Dr. Sullivan tried to defuse these charges by stressing that candidates to head the NIH and the CDC will be judged by "standards of scientific and administrative excellence," not politics.@@@@1@33@@oe@2-2-2013
20047017@unknown@formal@none@1@S@But the administration's handling of the fetal-tissue transplant issue disturbs many scientists.@@@@1@12@@oe@2-2-2013
20047018@unknown@formal@none@1@S@"When scientific progress moves into uncharted ground, there has to be a role for society to make judgments about its applications," says Myron Genel, associate dean of the Yale Medical School.@@@@1@31@@oe@2-2-2013
20047019@unknown@formal@none@1@S@"The disturbing thing about this abortion issue is that the debate has become polarized, so that no mechanism exists" for finding a middle ground.@@@@1@24@@oe@2-2-2013
20047020@unknown@formal@none@1@S@Yale is one of the few medical institutions conducting privately funded research on fetal-tissue transplants.@@@@1@15@@oe@2-2-2013
20047021@unknown@formal@none@1@S@But Dr. Genel warns that Dr. Mason's ruling may discourage private funding.@@@@1@12@@oe@2-2-2013
20047022@unknown@formal@none@1@S@"The unavailability of federal funds, and the climate in which the decision was made, certainly don't provide any incentive for one of the more visible foundations to provide support," he said.@@@@1@31@@oe@2-2-2013
20047023@unknown@formal@none@1@S@Despite the flap over transplants, federal funding of research involving fetal tissues will continue on a number of fronts.@@@@1@19@@oe@2-2-2013
20047024@unknown@formal@none@1@S@"Such research may ultimately result in the ability to regenerate damaged tissues or to turn off genes that cause cancer" or to regulate genes that cause Down's syndrome, the leading cause of mental retardation, according to an NIH summary.@@@@1@39@@oe@2-2-2013
20047025@unknown@formal@none@1@S@The NIH currently spends about $8 million annually on fetal-tissue research out of a total research budget of $8 billion.@@@@1@20@@oe@2-2-2013
20048001@unknown@formal@none@1@S@Rekindled hope that two New England states will allow broader interstate banking boosted Nasdaq's bank stocks, but the over-the-counter market was up only slightly in lackluster trading.@@@@1@27@@oe@2-2-2013
20048002@unknown@formal@none@1@S@The Nasdaq composite index added 1.01 to 456.64 on paltry volume of 118.6 million shares.@@@@1@15@@oe@2-2-2013
20048003@unknown@formal@none@1@S@In terms of volume, it was an inauspicious beginning for November.@@@@1@11@@oe@2-2-2013
20048004@unknown@formal@none@1@S@Yesterday's share turnover was well below the year's daily average of 133.8 million.@@@@1@13@@oe@2-2-2013
20048005@unknown@formal@none@1@S@In October, the busiest month of the year so far, daily volume averaged roughly 145 million shares.@@@@1@17@@oe@2-2-2013
20048006@unknown@formal@none@1@S@The Nasdaq 100 index of the biggest nonfinancial stocks gained 1.39 to 446.62.@@@@1@13@@oe@2-2-2013
20048007@unknown@formal@none@1@S@The index of the 100 largest Nasdaq financial stocks rose modestly as well, gaining 1.28 to 449.04.@@@@1@17@@oe@2-2-2013
20048008@unknown@formal@none@1@S@But the broader Nasdaq bank index, which tracks thrift issues, jumped 3.23 to 436.01.@@@@1@14@@oe@2-2-2013
20048009@unknown@formal@none@1@S@The bank stocks got a boost when Connecticut Bank & Trust and Bank of New England said they no longer oppose pending legislation that would permit banks from other regions to merge with Connecticut and Massachusetts banks.@@@@1@37@@oe@2-2-2013
20048010@unknown@formal@none@1@S@The two banks merged in 1985.@@@@1@6@@oe@2-2-2013
20048011@unknown@formal@none@1@S@Bank of New England's shares are traded on the New York Stock Exchange.@@@@1@13@@oe@2-2-2013
20048012@unknown@formal@none@1@S@The stocks of banking concerns based in Massachusetts weren't helped much by the announcement, traders said, because many of those concerns have financial problems tied to their real-estate loan portfolios, making them unattractive takeover targets.@@@@1@35@@oe@2-2-2013
20048013@unknown@formal@none@1@S@But speculators, anticipating that Connecticut will approve a law permitting such interstate banking soon, immediately bid up shares of Connecticut banks on the news.@@@@1@24@@oe@2-2-2013
20048014@unknown@formal@none@1@S@"A lot of the stocks that have been under water finally saw a reason to uptick," said George Jennison, head trader of banking issues in Shearson Lehman Hutton's OTC department.@@@@1@30@@oe@2-2-2013
20048015@unknown@formal@none@1@S@The biggest beneficiary was Northeast Bancorp, which surged 7 3/4 to 69.@@@@1@12@@oe@2-2-2013
20048016@unknown@formal@none@1@S@The Stamford, Conn., concern has agreed to a buy-out by Bank of New York in a transaction with an indicated value of about $100 a share that expires next August.@@@@1@30@@oe@2-2-2013
20048017@unknown@formal@none@1@S@Ed Macheski, a Wilton, Conn., money manager who follows bank stocks, said the announcement effectively gives the deal "the green light."@@@@1@21@@oe@2-2-2013
20048018@unknown@formal@none@1@S@Mr. Jennison said Northeast Bancorp also fared well because takeover stocks have returned to favor among investors.@@@@1@17@@oe@2-2-2013
20048019@unknown@formal@none@1@S@Another OTC bank stock involved in a buy-out deal, First Constitution Financial, was higher.@@@@1@14@@oe@2-2-2013
20048020@unknown@formal@none@1@S@It rose 7/8 to 18 1/4.@@@@1@6@@oe@2-2-2013
20048021@unknown@formal@none@1@S@First Constitution has signed a merger agreement with WFRR L.P. and GHKM Corp., under which all of its common shares will be acquired for $25 each, or $273.5 million.@@@@1@29@@oe@2-2-2013
20048022@unknown@formal@none@1@S@Among other Connecticut banks whose shares trade in the OTC market, Society for Savings Bancorp, based in Hartford, saw its stock rise 1 3/4 to 18 1/4.@@@@1@27@@oe@2-2-2013
20048023@unknown@formal@none@1@S@Centerbank added 5/8 to 8 3/4; shares of NESB, a New London-based bank holding company, rose 5/8 to 5 7/8.@@@@1@20@@oe@2-2-2013
20048024@unknown@formal@none@1@S@Among other banking issues, Pennview Savings Association leapt more than 44% with a gain of 6 5/8 to 21 5/8.@@@@1@20@@oe@2-2-2013
20048025@unknown@formal@none@1@S@The Pennsylvania bank agreed to be acquired in a merger with Univest Corp. of Pennsylvania for $25.50 a share.@@@@1@19@@oe@2-2-2013
20048026@unknown@formal@none@1@S@Valley Federal Savings & Loan, a California thrift issue, gained 1 to 4 1/4 after reporting a third-quarter loss of $70.7 million after an $89.9 million pretax charge mostly related to its mobile home financing unit.@@@@1@36@@oe@2-2-2013
20048027@unknown@formal@none@1@S@Dan E. Nelms, Valley Federal's president and chief executive officer, said the one-time charge substantially eliminates future losses associated with the unit.@@@@1@22@@oe@2-2-2013
20048028@unknown@formal@none@1@S@He said the company's core business remains strong.@@@@1@8@@oe@2-2-2013
20048029@unknown@formal@none@1@S@He also said that after the charges, and "assuming no dramatic fluctuation in interest rates, the company expects to achieve near-record earnings in 1990."@@@@1@24@@oe@2-2-2013
20048030@unknown@formal@none@1@S@Weisfield's surged 6 3/4 to 55 1/2 and Ratners Group's American depositary receipts, or ADRs, gained 5/8 to 12 1/4.@@@@1@20@@oe@2-2-2013
20048031@unknown@formal@none@1@S@The two concerns said they entered into a definitive merger agreement under which Ratners will begin a tender offer for all of Weisfield's common shares for $57.50 each.@@@@1@28@@oe@2-2-2013
20048032@unknown@formal@none@1@S@Also on the takeover front, Jaguar's ADRs rose 1/4 to 13 7/8 on turnover of 4.4 million.@@@@1@17@@oe@2-2-2013
20048033@unknown@formal@none@1@S@Since the British auto maker became a takeover target last month, its ADRs have jumped about 78%.@@@@1@17@@oe@2-2-2013
20048034@unknown@formal@none@1@S@After troubled Heritage Media proposed acquiring POP Radio in a stock swap, POP Radio's shares tumbled 4 to 14 3/4.@@@@1@20@@oe@2-2-2013
20048035@unknown@formal@none@1@S@Heritage Media, which already owns about 51% of POP Radio, proposed paying POP Radio shareholders with shares of a new class of Heritage Media preferred stock that would be convertible into four shares of Heritage Media's common.@@@@1@37@@oe@2-2-2013
20048036@unknown@formal@none@1@S@Rally's lost 1 3/4 to 21 3/4.@@@@1@7@@oe@2-2-2013
20048037@unknown@formal@none@1@S@The restaurant operator said it has redeemed its rights issued Monday under its shareholder rights plan.@@@@1@16@@oe@2-2-2013
20048038@unknown@formal@none@1@S@The fast-food company said its decision was based on discussions with a shareholder group, Giant Group Ltd., "in an effort to resolve certain disputes with the company."@@@@1@27@@oe@2-2-2013
20048039@unknown@formal@none@1@S@Giant Group is led by three Rally's directors, Burt Sugarman, James M. Trotter III and William E. Trotter II, who earlier this month indicated they had a 42.5% stake in Rally's and planned to seek a majority of seats on Rally's nine-member board.@@@@1@43@@oe@2-2-2013
20048040@unknown@formal@none@1@S@SCI Systems slipped 7/8 to 10 on volume of 858,000 shares.@@@@1@11@@oe@2-2-2013
20048041@unknown@formal@none@1@S@The Huntsville, Ala., electronic products maker said it expects to post a "significant" loss for its fiscal first quarter ended Sept. 30.@@@@1@22@@oe@2-2-2013
20048042@unknown@formal@none@1@S@In the year-earlier period, SCI had net income of $4.8 million, or 23 cents a share, on revenue of $225.6 million.@@@@1@21@@oe@2-2-2013
20049001@unknown@formal@none@1@S@The Internal Revenue Service has threatened criminal sanctions against lawyers who fail to report detailed information about clients who pay them more than $10,000 in cash.@@@@1@26@@oe@2-2-2013
20049002@unknown@formal@none@1@S@The warnings, issued to at least 100 criminal defense attorneys in several major cities in the last week, have led to an outcry by members of the organized bar, who claim the information is protected by attorney-client privilege.@@@@1@38@@oe@2-2-2013
20049003@unknown@formal@none@1@S@The IRS warnings stem from a 1984 law that requires anyone who receives more than $10,000 in cash from a client or customer in one or more related transactions "in the course of trade or business" to report the payment on a document known as Form 8300.@@@@1@47@@oe@2-2-2013
20049004@unknown@formal@none@1@S@The form asks for such details as the client's name, Social Security number, passport number and details about the services provided for the payment.@@@@1@24@@oe@2-2-2013
20049005@unknown@formal@none@1@S@Failure to complete the form had been punishable as a misdemeanor until last November, when Congress determined that the crime was a felony punishable by up to 10 years in prison.@@@@1@31@@oe@2-2-2013
20049006@unknown@formal@none@1@S@Attorneys have argued since 1985, when the law took effect, that they cannot provide information about clients who don't wish their identities to be known.@@@@1@25@@oe@2-2-2013
20049007@unknown@formal@none@1@S@Many attorneys have returned incomplete forms to the IRS in recent years, citing attorney-client privilege.@@@@1@15@@oe@2-2-2013
20049008@unknown@formal@none@1@S@Until last week, the IRS rarely acted on the incomplete forms.@@@@1@11@@oe@2-2-2013
20049009@unknown@formal@none@1@S@"This form forces a lawyer to become, in effect, a witness against his client," said Neal R. Sonnett, president of the National Association of Criminal Defense Lawyers.@@@@1@27@@oe@2-2-2013
20049010@unknown@formal@none@1@S@"The IRS is asking lawyers to red-flag a criminal problem to the government," added Mr. Sonnett, a Miami lawyer who has heard from dozens of attorneys who received letters in recent days and has himself received the computer-generated IRS forms sent by certified mail.@@@@1@44@@oe@2-2-2013
20049011@unknown@formal@none@1@S@Mr. Sonnett said that clients who pay cash may include alleged drug dealers who don't have domestic bank accounts.@@@@1@19@@oe@2-2-2013
20049012@unknown@formal@none@1@S@These individuals may not necessarily be under investigation when they hire lawyers.@@@@1@12@@oe@2-2-2013
20049013@unknown@formal@none@1@S@Mr. Sonnett said there also may be other circumstances under which individuals wouldn't want the government to know they had retained criminal defense lawyers.@@@@1@24@@oe@2-2-2013
20049014@unknown@formal@none@1@S@Filling out detailed forms about these individuals would tip the IRS off and spark action against the clients, he said.@@@@1@20@@oe@2-2-2013
20049015@unknown@formal@none@1@S@The defense lawyers' group formed a task force this week, chaired by New York attorney Gerald Lefcourt, to deal with the matter.@@@@1@22@@oe@2-2-2013
20049016@unknown@formal@none@1@S@The American Bar Association's House of Delegates passed a resolution in 1985 condemning the IRS reporting requirement.@@@@1@17@@oe@2-2-2013
20049017@unknown@formal@none@1@S@Michael Ross, a New York lawyer who heads the ABA's grand jury committee, said that lawyers are prohibited by the ABA's code of ethics from disclosing information about a client except where a court orders it or to prevent the client from committing a criminal act that could result in death.@@@@1@51@@oe@2-2-2013
20049018@unknown@formal@none@1@S@Mr. Ross said he met with officials of the IRS and the Justice Department, which would bring any enforcement actions against taxpayers, to discuss the issue last May.@@@@1@28@@oe@2-2-2013
20049019@unknown@formal@none@1@S@At that meeting, he said, the Justice Department assured him that enforcement procedures wouldn't be threatened against attorneys without further review and advance notice.@@@@1@24@@oe@2-2-2013
20049020@unknown@formal@none@1@S@Mr. Ross said IRS officials opposed the Justice Department's moderate stance on the matter.@@@@1@14@@oe@2-2-2013
20049021@unknown@formal@none@1@S@But in the letters sent in recent days, Christopher J. Lezovich of the IRS computing center in Detroit, told attorneys that "failing to voluntarily submit the requested information could result in summons enforcement action being initiated."@@@@1@36@@oe@2-2-2013
20049022@unknown@formal@none@1@S@In some cases, the IRS asked for information dating back to forms it received in 1985.@@@@1@16@@oe@2-2-2013
20049023@unknown@formal@none@1@S@A spokesman for the IRS confirmed that "there has been correspondence mailed about incomplete 8300s," but he declined to say why the letters were sent to lawyers now.@@@@1@28@@oe@2-2-2013
20049024@unknown@formal@none@1@S@Individuals familiar with the Justice Department's policy said that Justice officials hadn't any knowledge of the IRS's actions in the last week.@@@@1@22@@oe@2-2-2013
20049025@unknown@formal@none@1@S@Lawyers worry that if they provide information about clients, that data could quickly end up in the hands of prosecutors.@@@@1@20@@oe@2-2-2013
20049026@unknown@formal@none@1@S@Prosecutors need court permission to obtain the tax returns of an individual or a business.@@@@1@15@@oe@2-2-2013
20049027@unknown@formal@none@1@S@But they have obtained 8300 forms without court permission and used the information to help develop criminal cases.@@@@1@18@@oe@2-2-2013
20049028@unknown@formal@none@1@S@Some criminal lawyers speculated that the IRS was sending the letters to test the issue.@@@@1@15@@oe@2-2-2013
20049029@unknown@formal@none@1@S@In a number of recent cases, federal courts have refused to recognize attorneys' assertions that information relating to fees from clients should be confidential.@@@@1@24@@oe@2-2-2013
20049030@unknown@formal@none@1@S@THE WAR OVER FEDERAL JUDICIAL SALARIES takes a victim.@@@@1@9@@oe@2-2-2013
20049031@unknown@formal@none@1@S@Often, judges ease into more lucrative private practice with little fanfare, but not federal Judge Raul A. Ramirez in Sacramento, Calif.@@@@1@21@@oe@2-2-2013
20049032@unknown@formal@none@1@S@On Tuesday, the judge called a news conference to say he was quitting effective Dec. 31 to join a San Francisco law firm.@@@@1@23@@oe@2-2-2013
20049033@unknown@formal@none@1@S@The reason: the refusal of Congress to give federal judges a raise.@@@@1@12@@oe@2-2-2013
20049034@unknown@formal@none@1@S@"A couple of my law clerks were going to pass me in three or four years, and I was afraid I was going to have to ask them for a loan," the judge quipped in an interview.@@@@1@37@@oe@2-2-2013
20049035@unknown@formal@none@1@S@Federal judges make $89,500 annually; in February, Congress rejected a bill that would have increased their pay by 50%.@@@@1@19@@oe@2-2-2013
20049036@unknown@formal@none@1@S@Judge Ramirez, 44, said it is unjust for judges to make what they do.@@@@1@14@@oe@2-2-2013
20049037@unknown@formal@none@1@S@"Judges are not getting what they deserve.@@@@1@7@@oe@2-2-2013
20049038@unknown@formal@none@1@S@You look around at professional ballplayers or accountants . . . and nobody blinks an eye.@@@@1@16@@oe@2-2-2013
20049039@unknown@formal@none@1@S@When you become a federal judge, all of a sudden you are relegated to a paltry sum."@@@@1@17@@oe@2-2-2013
20049040@unknown@formal@none@1@S@At his new job, as partner in charge of federal litigation in the Sacramento office of Orrick, Herrington & Sutcliffe, he will make out much better.@@@@1@26@@oe@2-2-2013
20049041@unknown@formal@none@1@S@The judge declined to discuss his salary in detail, but said: "I'm going to be a high-priced lawyer."@@@@1@18@@oe@2-2-2013
20049042@unknown@formal@none@1@S@DOONESBURY CREATOR'S UNION TROUBLES are no laughing matter.@@@@1@8@@oe@2-2-2013
20049043@unknown@formal@none@1@S@Cartoonist Garry Trudeau is suing the Writers Guild of America East for $11 million, alleging it mounted a "campaign to harass and punish" him for crossing a screenwriters' picket line.@@@@1@30@@oe@2-2-2013
20049044@unknown@formal@none@1@S@The dispute involves Darkhorse Productions Inc., a TV production company in which Mr. Trudeau is a co-owner.@@@@1@17@@oe@2-2-2013
20049045@unknown@formal@none@1@S@Mr. Trudeau, a Writers Guild member, also was employed as a writer for Darkhorse, which was covered by a guild collective-bargaining agreement.@@@@1@22@@oe@2-2-2013
20049046@unknown@formal@none@1@S@The guild began a strike against the TV and movie industry in March 1988.@@@@1@14@@oe@2-2-2013
20049047@unknown@formal@none@1@S@In his lawsuit, Mr. Trudeau says the strike illegally included Darkhorse, and the cartoonist refused to honor the strike against the company.@@@@1@22@@oe@2-2-2013
20049048@unknown@formal@none@1@S@A spokesman for the guild said the union's lawyers are reviewing the suit.@@@@1@13@@oe@2-2-2013
20049049@unknown@formal@none@1@S@He said disciplinary proceedings are confidential and declined to comment on whether any are being held against Mr. Trudeau.@@@@1@19@@oe@2-2-2013
20049050@unknown@formal@none@1@S@Mr. Trudeau's attorney, Norman K. Samnick, said the harassment consists mainly of the guild's year-long threats of disciplinary action.@@@@1@19@@oe@2-2-2013
20049051@unknown@formal@none@1@S@Mr. Samnick said a guild disciplinary hearing is scheduled next Monday in New York.@@@@1@14@@oe@2-2-2013
20049052@unknown@formal@none@1@S@Mr. Samnick, who will go before the disciplinary panel, said the proceedings are unfair and that any punishment from the guild would be unjustified.@@@@1@24@@oe@2-2-2013
20049053@unknown@formal@none@1@S@In addition to the damages, the suit seeks a court order preventing the guild from punishing or retaliating against Mr. Trudeau.@@@@1@21@@oe@2-2-2013
20049054@unknown@formal@none@1@S@ABORTION RULING UPHELD:@@@@1@3@@oe@2-2-2013
20049055@unknown@formal@none@1@S@A federal appeals court upheld a lower court ruling that the U.S. can bar the use of federal funds for family-planning programs that include abortion-related services.@@@@1@26@@oe@2-2-2013
20049056@unknown@formal@none@1@S@A Department of Health and Human Services rule adopted in 1988 prohibits the use of so-called Title X funds for programs that assist a woman in obtaining an abortion, such as abortion counseling and referrals.@@@@1@35@@oe@2-2-2013
20049057@unknown@formal@none@1@S@The rule also prohibits funding for activities that "encourage, promote or advocate abortion."@@@@1@13@@oe@2-2-2013
20049058@unknown@formal@none@1@S@Title X funds are the single largest source of federal funding for family-planning services, according to the opinion by the Second U.S. Circuit Court of Appeals in New York.@@@@1@29@@oe@2-2-2013
20049059@unknown@formal@none@1@S@The panel ruled that the restrictions don't violate the freedom of speech of health care providers and that the limits on counseling services don't violate the rights of pregnant women.@@@@1@30@@oe@2-2-2013
20049060@unknown@formal@none@1@S@INQUIRY CLEARS TEXAS JUDGE of bias in comments on homosexual murder victims.@@@@1@12@@oe@2-2-2013
20049061@unknown@formal@none@1@S@Dallas District Judge Jack Hampton had sparked calls for a judicial inquiry with his remarks to the press last December, two weeks after sentencing an 18-year-old defendant to 30 years in state prison for killing two homosexual men in a city park.@@@@1@42@@oe@2-2-2013
20049062@unknown@formal@none@1@S@The judge was quoted as referring to the victims as "queers" and saying they wouldn't have been killed "if they hadn't been cruising the streets picking up teenage boys."@@@@1@29@@oe@2-2-2013
20049063@unknown@formal@none@1@S@But Robert R. Murray, a special master appointed by the Texas Supreme Court, said Judge Hampton didn't breach any judicial standards of fairness, although he did violate the state's judicial code by commenting publicly on a pending case.@@@@1@38@@oe@2-2-2013
20049064@unknown@formal@none@1@S@Observing that the judge "has never exhibited any bias or prejudice," Mr. Murray concluded that he "would be impartial in any case involving a homosexual or prostitute" as a victim.@@@@1@30@@oe@2-2-2013
20049065@unknown@formal@none@1@S@Mr. Murray also said Judge Hampton's comments didn't discredit the judiciary or the administration of justice.@@@@1@16@@oe@2-2-2013
20049066@unknown@formal@none@1@S@The report is subject to review by the State Commission on Judicial Conduct, which is empowered to impose sanctions.@@@@1@19@@oe@2-2-2013
20049067@unknown@formal@none@1@S@GAF TRIAL goes to round three.@@@@1@6@@oe@2-2-2013
20049068@unknown@formal@none@1@S@Attorneys in the third stock-manipulation trial of GAF Corp. began opening arguments yesterday in the Manhattan courtroom of U.S. District Judge Mary Johnson Lowe.@@@@1@24@@oe@2-2-2013
20049069@unknown@formal@none@1@S@In an eight-count indictment, the government has charged GAF, a Wayne, N.J., specialty chemical maker, and its Vice Chairman James T. Sherwin with attempting to manipulate the common stock of Union Carbide Corp. in advance of GAF's planned sale of a large block of the stock in November 1986.@@@@1@49@@oe@2-2-2013
20049070@unknown@formal@none@1@S@The first two GAF trials ended in mistrials earlier this year.@@@@1@11@@oe@2-2-2013
20049071@unknown@formal@none@1@S@This trial is expected to last five weeks.@@@@1@8@@oe@2-2-2013
20049072@unknown@formal@none@1@S@SWITCHING TO THE DEFENSE:@@@@1@4@@oe@2-2-2013
20049073@unknown@formal@none@1@S@A former member of the prosecution team in the Iran/Contra affair joined the Chicago firm of Mayer, Brown & Platt.@@@@1@20@@oe@2-2-2013
20049074@unknown@formal@none@1@S@Michael R. Bromwich, a member since January 1987 of the three-lawyer trial team in the prosecution of Oliver North, became a partner in the Washington, D.C., office of the 520-lawyer firm.@@@@1@31@@oe@2-2-2013
20049075@unknown@formal@none@1@S@He will specialize in white-collar criminal defense work.@@@@1@8@@oe@2-2-2013
20049076@unknown@formal@none@1@S@Mr. Bromwich, 35, also has served as deputy chief and chief of the narcotics unit for the U.S. attorney's office for the Southern District of New York, based in Manhattan.@@@@1@30@@oe@2-2-2013
20050001@unknown@formal@none@1@S@Cooper Tire & Rubber Co. said it has reached an agreement in principle to buy buildings and related property in Albany, Ga., from Bridgestone/Firestone Inc.@@@@1@25@@oe@2-2-2013
20050002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20050003@unknown@formal@none@1@S@The tire maker said the buildings consist of 1.8 million square feet of office, manufacturing and warehousing space on 353 acres of land.@@@@1@23@@oe@2-2-2013
20051001@unknown@formal@none@1@S@Fujitsu Ltd.'s top executive took the unusual step of publicly apologizing for his company's making bids of just one yen for several local government projects, while computer rival NEC Corp. made a written apology for indulging in the same practice.@@@@1@40@@oe@2-2-2013
20051002@unknown@formal@none@1@S@Meanwhile, business and government leaders rebuked the computer makers, and fretted about the broader statement the companies' actions make about Japanese cutthroat pricing.@@@@1@23@@oe@2-2-2013
20051003@unknown@formal@none@1@S@Fujitsu said it bid the equivalent of less than a U.S. penny on three separate municipal contracts during the past two years.@@@@1@22@@oe@2-2-2013
20051004@unknown@formal@none@1@S@The company also disclosed that during that period it offered 10,000 yen, or about $70, for another contract.@@@@1@18@@oe@2-2-2013
20051005@unknown@formal@none@1@S@But Fujitsu, Japan's No. 1 computer maker, isn't alone.@@@@1@9@@oe@2-2-2013
20051006@unknown@formal@none@1@S@NEC, one of its largest domestic competitors, said it bid one yen in two separate public auctions since 1987.@@@@1@19@@oe@2-2-2013
20051007@unknown@formal@none@1@S@In both cases, NEC lost the contract to Fujitsu, which made the same bid and won a tie-breaking lottery.@@@@1@19@@oe@2-2-2013
20051008@unknown@formal@none@1@S@All the contracts were for computer-system-design contracts and involved no hardware or software.@@@@1@13@@oe@2-2-2013
20051009@unknown@formal@none@1@S@The Ministry of International Trade and Industry summoned executives from the companies to "make sure they understood" the concern about such practices, according to a government spokesman.@@@@1@27@@oe@2-2-2013
20051010@unknown@formal@none@1@S@"These cases lead to the loss of the firms' social and international credibility," a ministry statement said.@@@@1@17@@oe@2-2-2013
20051011@unknown@formal@none@1@S@Japan's Fair Trade Commission has said it is considering investigating the bids for possible antitrust-law violations.@@@@1@16@@oe@2-2-2013
20051012@unknown@formal@none@1@S@"We would like to apologize for having caused huge trouble," Fujitsu President Takuma Yamamoto, read from a prepared statement as he stood before a packed news conference at his company's downtown headquarters.@@@@1@32@@oe@2-2-2013
20051013@unknown@formal@none@1@S@The bids, he added, were "contrary to common sense."@@@@1@9@@oe@2-2-2013
20051014@unknown@formal@none@1@S@NEC released a statement saying, "We feel sorry for having caused trouble to society," a form of apology common in Japan for companies caught in embarrassing situations.@@@@1@27@@oe@2-2-2013
20051015@unknown@formal@none@1@S@Japanese companies have long had a reputation for sacrificing short-term profits to make a sale that may have long-term benefits.@@@@1@20@@oe@2-2-2013
20051016@unknown@formal@none@1@S@But the growing controversy comes as many practices historically accepted as normal here -- such as politicians accepting substantial gifts from businessmen or having extramarital affairs -- are coming under close ethical scrutiny.@@@@1@33@@oe@2-2-2013
20051017@unknown@formal@none@1@S@The fire is also fueled by growing international interest in Japanese behavior.@@@@1@12@@oe@2-2-2013
20051018@unknown@formal@none@1@S@So far there have been no public overseas complaints about the issue.@@@@1@12@@oe@2-2-2013
20051019@unknown@formal@none@1@S@But in one of the auctions in question, International Business Machines Corp. made a bid substantially higher than the Fujitsu offer, according to the municipality.@@@@1@25@@oe@2-2-2013
20051020@unknown@formal@none@1@S@The low-ball bids touch on issues central to the increasingly tense trade debate.@@@@1@13@@oe@2-2-2013
20051021@unknown@formal@none@1@S@Foreigners complain that they have limited access to government procurement in Japan, in part because Japanese companies unfairly undercut them.@@@@1@20@@oe@2-2-2013
20051022@unknown@formal@none@1@S@The U.S. government in recent years has accused Japanese companies of excessively slashing prices on semiconductors and supercomputers -- products Fujitsu and NEC make.@@@@1@24@@oe@2-2-2013
20051023@unknown@formal@none@1@S@Asked whether the bidding flap would hurt U.S.-Japan relations, Mr. Yamamoto said, "this will be a minus factor."@@@@1@18@@oe@2-2-2013
20051024@unknown@formal@none@1@S@The "one-yen" controversy first came to a head last week when the city of Hiroshima announced that Fujitsu won a contract to design a computer system to map its waterworks.@@@@1@30@@oe@2-2-2013
20051025@unknown@formal@none@1@S@The city had expected to pay about 11 million yen ($77,000), but Fujitsu essentially offered to do it for free.@@@@1@20@@oe@2-2-2013
20051026@unknown@formal@none@1@S@Then Wednesday, Fujitsu said it made a similar bid to win a library contract in Nagano prefecture two weeks earlier.@@@@1@20@@oe@2-2-2013
20051027@unknown@formal@none@1@S@It also said that in July, it bid 10,000 yen to design a system for the Saitama prefectural library, and two years ago, it bid one yen to plan the telecommunications system for Wakayama prefecture.@@@@1@35@@oe@2-2-2013
20051028@unknown@formal@none@1@S@The company said it has offered to withdraw its bids in Hiroshima and Nagano.@@@@1@14@@oe@2-2-2013
20051029@unknown@formal@none@1@S@The municipalities said they haven't decided whether to try to force the company to go through with the contracts.@@@@1@19@@oe@2-2-2013
20051030@unknown@formal@none@1@S@Fujitsu and NEC said they were still investigating, and that knowledge of more such bids could emerge.@@@@1@17@@oe@2-2-2013
20051031@unknown@formal@none@1@S@Mr. Yamamoto insisted that headquarters hadn't approved the bids, and that he didn't know about most of the cases until Wednesday.@@@@1@21@@oe@2-2-2013
20051032@unknown@formal@none@1@S@Other major Japanese computer companies contacted yesterday said they have never made such bids.@@@@1@14@@oe@2-2-2013
20051033@unknown@formal@none@1@S@"One yen is not ethical," Michio Sasaki, an official at Keidanren, the Japan Federation of Economic Organizations, said.@@@@1@18@@oe@2-2-2013
20051034@unknown@formal@none@1@S@"Profit may be low, but at least costs should be covered.@@@@1@11@@oe@2-2-2013
20052001@unknown@formal@none@1@S@PAPERS:@@@@1@1@@oe@2-2-2013
20052002@unknown@formal@none@1@S@Backe Group Inc. agreed to acquire Atlantic Publications Inc., which has 30 community papers and annual sales of $7 million.@@@@1@20@@oe@2-2-2013
20052003@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20052004@unknown@formal@none@1@S@Backe is a closely held media firm run by former CBS Inc. President John Backe.@@@@1@15@@oe@2-2-2013
20052005@unknown@formal@none@1@S@TV:@@@@1@1@@oe@2-2-2013
20052006@unknown@formal@none@1@S@Price Communications Corp. completed the sale of four of its TV stations to NTG Inc. for $120 million in cash and notes, retaining a 10% equity stake in the new concern.@@@@1@31@@oe@2-2-2013
20052007@unknown@formal@none@1@S@NTG was formed by Osborn Communications Corp. and Desai Capital.@@@@1@10@@oe@2-2-2013
20053001@unknown@formal@none@1@S@Michaels Stores Inc., which owns and operates a chain of specialty retail stores, said October sales rose 14.6% to $32.8 million from $28.6 million a year earlier.@@@@1@27@@oe@2-2-2013
20053002@unknown@formal@none@1@S@Sales in stores open more than one year rose 3% to $29.3 million from $28.4 million.@@@@1@16@@oe@2-2-2013
20054001@unknown@formal@none@1@S@Furukawa Co. of Japan said it will acquire two construction machinery plants and a sales unit in France formerly belonging to Dresser Industries Inc. of the U.S.@@@@1@27@@oe@2-2-2013
20054002@unknown@formal@none@1@S@The company said it made the purchase in order to locally produce hydraulically operated shovels.@@@@1@15@@oe@2-2-2013
20054003@unknown@formal@none@1@S@Last October, the company also bought a wheel-loader manufacturing plant in Heidelberg, West Germany, from Dresser.@@@@1@16@@oe@2-2-2013
20054004@unknown@formal@none@1@S@Furukawa said the purchase of the French and German plants together will total about 40 billion yen ($280 million).@@@@1@19@@oe@2-2-2013
20055001@unknown@formal@none@1@S@Structural Dynamics Research Corp., which makes computer-aided engineering software, said it introduced new technology in mechanical design automation that will improve mechanical engineering productivity.@@@@1@24@@oe@2-2-2013
20056001@unknown@formal@none@1@S@\s@@@@1@1@@oe@2-2-2013
20056002@unknown@formal@none@1@S@Money Market Deposits-a 6.21%@@@@1@4@@oe@2-2-2013
20056003@unknown@formal@none@1@S@a-Average rate paid yesterday by 100 large banks and thrifts in the 10 largest metropolitan areas as compiled by Bank Rate Monitor.@@@@1@22@@oe@2-2-2013
20056004@unknown@formal@none@1@S@b-Current annual yield.@@@@1@3@@oe@2-2-2013
20056005@unknown@formal@none@1@S@Guaranteed minimum 6%.@@@@1@3@@oe@2-2-2013
20057001@unknown@formal@none@1@S@LSI Logic Corp. reported a surprise $35.7 million third-quarter net loss, including a special restructuring charge that reflects a continuing industry-wide slowdown in semiconductor demand.@@@@1@25@@oe@2-2-2013
20057002@unknown@formal@none@1@S@In September, the custom-chip maker said excess capacity and lagging billings would result in an estimated $2 million to $3 million net loss for the third quarter.@@@@1@27@@oe@2-2-2013
20057003@unknown@formal@none@1@S@But company officials said yesterday that they decided to take a $43 million pretax charge for the period to cover a restructuring of world-wide manufacturing operations, citing extended weakness in the market as well as a decision to switch to more economical production techniques.@@@@1@44@@oe@2-2-2013
20057004@unknown@formal@none@1@S@"Over the summer months, there has been a slowing in the rate of new orders from the computer sector, our primary market," said Wilfred J. Corrigan, chairman and chief executive officer.@@@@1@31@@oe@2-2-2013
20057005@unknown@formal@none@1@S@"In addition, recent industry forecasts for 1990 indicate a slow environment, at least until midyear."@@@@1@15@@oe@2-2-2013
20057006@unknown@formal@none@1@S@As a result, the company said it decided to phase out its oldest capacity and "make appropriate reductions" in operating expenses.@@@@1@21@@oe@2-2-2013
20057007@unknown@formal@none@1@S@The $35.7 million net loss equals 86 cents a share.@@@@1@10@@oe@2-2-2013
20057008@unknown@formal@none@1@S@Not counting the extraordinary charge, the company said it would have had a net loss of $3.1 million, or seven cents a share.@@@@1@23@@oe@2-2-2013
20057009@unknown@formal@none@1@S@A year earlier, it had profit of $7.5 million, or 18 cents a share.@@@@1@14@@oe@2-2-2013
20057010@unknown@formal@none@1@S@Revenue rose 42% to $133.7 million from $94 million.@@@@1@9@@oe@2-2-2013
20057011@unknown@formal@none@1@S@The charge partly reflects a switch from older five-inch to more-efficient six-inch silicon wafers with which to fabricate chips.@@@@1@19@@oe@2-2-2013
20057012@unknown@formal@none@1@S@Related to that decision, the company said it was converting its Santa Clara, Calif., factory to a research and development facility.@@@@1@21@@oe@2-2-2013
20057013@unknown@formal@none@1@S@A spokesman declined to speculate about possible reductions in force.@@@@1@10@@oe@2-2-2013
20057014@unknown@formal@none@1@S@"This is a company that has invested in capacity additions more aggressively than any other company in the industry and now the industry is growing more slowly and they are suddenly poorly positioned," said Michael Stark, chip analyst at Robertson, Stephens & Co.@@@@1@43@@oe@2-2-2013
20057015@unknown@formal@none@1@S@"I think the stock is dead money for a while."@@@@1@10@@oe@2-2-2013
20057016@unknown@formal@none@1@S@Yesterday's announcement was made after markets closed.@@@@1@7@@oe@2-2-2013
20057017@unknown@formal@none@1@S@U.S. chip makers are facing continued slack demand following a traditionally slow summer.@@@@1@13@@oe@2-2-2013
20057018@unknown@formal@none@1@S@Part of the problem is that chip buyers are keeping inventories low because of jitters about the course of the U.S. economy.@@@@1@22@@oe@2-2-2013
20058001@unknown@formal@none@1@S@INGERSOLL-RAND Co. (Woodcliff Lake, N.J.) --@@@@1@6@@oe@2-2-2013
20058002@unknown@formal@none@1@S@William G. Kuhns, former chairman and chief executive officer of General Public Utilities Corp., was elected a director of this maker of industrial and construction equipment, increasing board membership to 10.@@@@1@31@@oe@2-2-2013
20059001@unknown@formal@none@1@S@The dollar posted gains against all major currencies yesterday, buoyed by persistent Japanese demand for U.S. bond issues.@@@@1@18@@oe@2-2-2013
20059002@unknown@formal@none@1@S@While market sentiment remains cautiously bearish on the dollar based on sluggish U.S. economic indicators, dealers note that Japanese demand has helped underpin the dollar against the yen and has kept the U.S. currency from plunging below key levels against the mark.@@@@1@42@@oe@2-2-2013
20059003@unknown@formal@none@1@S@At the same time, dealers said the U.S. unit has been locked into a relatively narrow range in recent weeks, in part because the hefty Japanese demand for dollars has been offset by the mark's strength, resulting in a stalemate.@@@@1@40@@oe@2-2-2013
20059004@unknown@formal@none@1@S@Jay Goldinger, with Capital Insight Inc., reasons that while the mark has posted significant gains against the yen as well -- the mark climbed to 77.70 yen from 77.56 yen late Tuesday in New York -- the strength of the U.S. bond market compared to its foreign counterparts has helped lure investors to dollar-denominated bonds, rather than mark bonds.@@@@1@59@@oe@2-2-2013
20059005@unknown@formal@none@1@S@"Dollar-yen {trade} is the driving force in the market," said Tom Trettien, a vice president with Banque Paribas in New York, "but I'm not convinced it will continue.@@@@1@28@@oe@2-2-2013
20059006@unknown@formal@none@1@S@Who knows what will happen down the road, in three to six months, if foreign investment starts to erode?"@@@@1@19@@oe@2-2-2013
20059007@unknown@formal@none@1@S@In late New York trading yesterday, the dollar was quoted at 1.8500 marks, up from 1.8415 marks late Tuesday, and at 143.80 yen, up from 142.85 yen late Tuesday.@@@@1@29@@oe@2-2-2013
20059008@unknown@formal@none@1@S@Sterling was quoted at $1.5755, down from $1.5805 late Tuesday.@@@@1@10@@oe@2-2-2013
20059009@unknown@formal@none@1@S@In Tokyo Thursday, the U.S. currency opened for trading at 143.93 yen, up from Wednesday's Tokyo close of 143.08 yen.@@@@1@20@@oe@2-2-2013
20059010@unknown@formal@none@1@S@Douglas Madison, a corporate trader with Bank of America in Los Angeles, traced the dollar's recent solid performance against the yen to purchases of securities by Japanese insurance companies and trust banks and the sense that another wave of investment is waiting in the wings.@@@@1@45@@oe@2-2-2013
20059011@unknown@formal@none@1@S@He contends that the perception in Japan of a vitriolic U.S. response to Sony Corp.'s announcement of its purchase of Columbia Pictures Entertainment Inc. has been temporarily mollified.@@@@1@28@@oe@2-2-2013
20059012@unknown@formal@none@1@S@He cites the recent deal between the Mitsubishi Estate Co. and the Rockefeller Group, as well as the possible white knight role of an undisclosed Japanese company in the Georgia-Pacific Corp. takeover bid for Great Northern Nekoosa Corp. as evidence.@@@@1@40@@oe@2-2-2013
20059013@unknown@formal@none@1@S@The forthcoming maturity in November of a 10-year Japanese government yen-denominated bond issue valued at about $16 billion has prompted speculation in the market that investors redeeming the bonds will diversify into dollar-denominated instruments, according to Mr. Madison.@@@@1@38@@oe@2-2-2013
20059014@unknown@formal@none@1@S@It remains unclear whether the bond issue will be rolled over.@@@@1@11@@oe@2-2-2013
20059015@unknown@formal@none@1@S@Meanwhile, traders in Tokyo say that the prospect of lower U.S. interest rates has spurred dollar buying by Japanese institutions.@@@@1@20@@oe@2-2-2013
20059016@unknown@formal@none@1@S@They point out that these institutions want to lock in returns on high-yield U.S. Treasury debt and suggest demand for the U.S. unit will continue unabated until rates in the U.S. recede.@@@@1@32@@oe@2-2-2013
20059017@unknown@formal@none@1@S@The market again showed little interest in further evidence of a slowing U.S. economy, and traders note that the market in recent weeks has taken its cues more from Wall Street than U.S. economic indicators.@@@@1@35@@oe@2-2-2013
20059018@unknown@formal@none@1@S@Dealers said the dollar merely drifted lower following the release Wednesday of the U.S. purchasing managers' report.@@@@1@17@@oe@2-2-2013
20059019@unknown@formal@none@1@S@The managers' index, which measures the health of the manufacturing sector, stood at 47.6% in October, above September's 46%, and also above average forecasts for the index of 45.3%.@@@@1@29@@oe@2-2-2013
20059020@unknown@formal@none@1@S@Some dealers said the dollar was pressured slightly because a number of market participants had boosted their expectations in the past day and were looking for an index above 50, which indicates an expanding manufacturing economy.@@@@1@36@@oe@2-2-2013
20059021@unknown@formal@none@1@S@But most said the index had no more than a minimal effect on trade.@@@@1@14@@oe@2-2-2013
20059022@unknown@formal@none@1@S@On the Commodity Exchange in New York, gold for current delivery settled at $374.20 an ounce, down 50 cents.@@@@1@19@@oe@2-2-2013
20059023@unknown@formal@none@1@S@Estimated volume was a moderate 3.5 million ounces.@@@@1@8@@oe@2-2-2013
20059024@unknown@formal@none@1@S@In early trading in Hong Kong Thursday, gold was quoted at $374.19 an ounce.@@@@1@14@@oe@2-2-2013
20060001@unknown@formal@none@1@S@"The Cosby Show" may have single-handedly turned around ratings at NBC since its debut in 1984, and the Huxtable family still keeps millions of viewers laughing Thursday night on the network.@@@@1@31@@oe@2-2-2013
20060002@unknown@formal@none@1@S@But some of the TV stations that bought "Cosby" reruns for record prices two years ago aren't laughing much these days.@@@@1@21@@oe@2-2-2013
20060003@unknown@formal@none@1@S@The reruns have helped ratings at many of the 187 network affiliates and independent TV stations that air the shows.@@@@1@20@@oe@2-2-2013
20060004@unknown@formal@none@1@S@But the ratings are considerably below expectations, and some stations say they may not buy new episodes when their current contracts expire.@@@@1@22@@oe@2-2-2013
20060005@unknown@formal@none@1@S@Meanwhile, stations are fuming because, many of them say, the show's distributor, Viacom Inc., is giving an ultimatum: Either sign new long-term commitments to buy future episodes or risk losing "Cosby" to a competitor.@@@@1@34@@oe@2-2-2013
20060006@unknown@formal@none@1@S@At the same time, Viacom is trying to persuade stations to make commitments to "A Different World," a spin-off of "Cosby" whose reruns will become available in 1991.@@@@1@28@@oe@2-2-2013
20060007@unknown@formal@none@1@S@Viacom denies it's using pressure tactics.@@@@1@6@@oe@2-2-2013
20060008@unknown@formal@none@1@S@"We're willing to negotiate," says Dennis Gillespie, executive vice president of marketing.@@@@1@12@@oe@2-2-2013
20060009@unknown@formal@none@1@S@"We're offering this plan now because we feel it's the right time."@@@@1@12@@oe@2-2-2013
20060010@unknown@formal@none@1@S@But, says the general manager of a network affiliate in the Midwest, "I think if I tell them I need more time, they'll take `Cosby' across the street,"@@@@1@28@@oe@2-2-2013
20060011@unknown@formal@none@1@S@Viacom's move comes as the syndication market is being flooded with situation comedies that are still running on the networks.@@@@1@20@@oe@2-2-2013
20060012@unknown@formal@none@1@S@One station manager says he believes Viacom's move is a "pre-emptive strike" because the company is worried that "Cosby" ratings will continue to drop in syndication over the next few years.@@@@1@31@@oe@2-2-2013
20060013@unknown@formal@none@1@S@"Cosby" is down a full ratings point in the week of Oct. 2-8 over the same week a year ago, according to A.C. Nielsen Co.@@@@1@25@@oe@2-2-2013
20060014@unknown@formal@none@1@S@Mr. Gillespie at Viacom says the ratings are rising.@@@@1@9@@oe@2-2-2013
20060015@unknown@formal@none@1@S@And executives at stations in such major markets as Washington; Providence, R.I.; Cleveland; Raleigh, N.C.; Minneapolis, and Louisville, Ky., say they may very well not renew "Cosby."@@@@1@27@@oe@2-2-2013
20060016@unknown@formal@none@1@S@Dick Lobo, the general manager of WTVJ, the NBC-owned station in Miami, for example, says the show has "been a major disappointment to us."@@@@1@24@@oe@2-2-2013
20060017@unknown@formal@none@1@S@"At the prices we were charged, there should have been some return for the dollar.@@@@1@15@@oe@2-2-2013
20060018@unknown@formal@none@1@S@There wasn't."@@@@1@2@@oe@2-2-2013
20060019@unknown@formal@none@1@S@Neil Kuvin, the general manager of WHAS, the CBS affiliate in Louisville, says "Cosby" gets the station's highest ratings and he's "pleased."@@@@1@22@@oe@2-2-2013
20060020@unknown@formal@none@1@S@But he adds, "I feel pressured, disappointed, uncomfortable and, frankly, quite angry with Viacom.@@@@1@14@@oe@2-2-2013
20061001@unknown@formal@none@1@S@The Life Insurance Co. of Georgia has officially opened an office in Taipei.@@@@1@13@@oe@2-2-2013
20061002@unknown@formal@none@1@S@David Wu, the company's representative in Taiwan, said Atlanta-based Life of Georgia will sell conventional life-insurance products.@@@@1@17@@oe@2-2-2013
20061003@unknown@formal@none@1@S@Life of Georgia is part of the Nationale Nederlanden Group, based in the Netherlands.@@@@1@14@@oe@2-2-2013
20062001@unknown@formal@none@1@S@In this era of frantic competition for ad dollars, a lot of revenue-desperate magazines are getting pretty cozy with advertisers -- fawning over them in articles and offering pages of advertorial space.@@@@1@32@@oe@2-2-2013
20062002@unknown@formal@none@1@S@So can a magazine survive by downright thumbing its nose at major advertisers?@@@@1@13@@oe@2-2-2013
20062003@unknown@formal@none@1@S@Garbage magazine, billed as "The Practical Journal for the Environment," is about to find out.@@@@1@15@@oe@2-2-2013
20062004@unknown@formal@none@1@S@Founded by Brooklyn, N.Y., publishing entrepreneur Patricia Poore, Garbage made its debut this fall with the promise to give consumers the straight scoop on the U.S. waste crisis.@@@@1@28@@oe@2-2-2013
20062005@unknown@formal@none@1@S@The magazine combines how-to pieces on topics like backyard composting, explanatory essays on such things as what happens after you flush your toilet, and hard-hitting pieces on alleged environmental offenders.@@@@1@30@@oe@2-2-2013
20062006@unknown@formal@none@1@S@Garbage editors have dumped considerable energy into a whirling rampage through supermarket aisles in a bid to identify corporate America's good guys and bad boys.@@@@1@25@@oe@2-2-2013
20062007@unknown@formal@none@1@S@In one feature, called "In the Dumpster," editors point out a product they deem to be a particularly bad offender.@@@@1@20@@oe@2-2-2013
20062008@unknown@formal@none@1@S@From an advertising standpoint, the problem is these offenders are likely to be some of the same folks that are major magazine advertisers these days.@@@@1@25@@oe@2-2-2013
20062009@unknown@formal@none@1@S@With only two issues under its belt, Garbage has alienated some would-be advertisers and raised the ire of others.@@@@1@19@@oe@2-2-2013
20062010@unknown@formal@none@1@S@Campbell Soup, for one, is furious its Souper Combo microwave product was chastised in the premiere "In the Dumpster" column.@@@@1@20@@oe@2-2-2013
20062011@unknown@formal@none@1@S@The magazine's editors ran a giant diagram of the product with arrows pointing to the packaging's polystyrene foam, polyproplene and polyester film -- all plastic items they say are non-biodegradable.@@@@1@30@@oe@2-2-2013
20062012@unknown@formal@none@1@S@"It's precisely the kind of product that's created the municipal landfill monster," the editors wrote.@@@@1@15@@oe@2-2-2013
20062013@unknown@formal@none@1@S@"I think that this magazine is not only called Garbage, but it is practicing journalistic garbage," fumes a spokesman for Campbell Soup.@@@@1@22@@oe@2-2-2013
20062014@unknown@formal@none@1@S@He says Campbell wasn't even contacted by the magazine for the opportunity to comment.@@@@1@14@@oe@2-2-2013
20062015@unknown@formal@none@1@S@Modifications had been made to the Souper Combo product at the time the issue was printed, he says, making it less an offender than was portrayed.@@@@1@26@@oe@2-2-2013
20062016@unknown@formal@none@1@S@He admits, though, it isn't one of Campbell Soup's better products in terms of recyclability.@@@@1@15@@oe@2-2-2013
20062017@unknown@formal@none@1@S@Campbell Soup, not surprisingly, doesn't have any plans to advertise in the magazine, according to its spokesman.@@@@1@17@@oe@2-2-2013
20062018@unknown@formal@none@1@S@Some media experts question whether a young magazine can risk turning off Madison Avenue's big spenders.@@@@1@16@@oe@2-2-2013
20062019@unknown@formal@none@1@S@"You really need the Campbell Soups of the world to be interested in your magazine if you're going to make a run of it," says Mike White, senior vice president and media director at DDB Needham, Chicago.@@@@1@37@@oe@2-2-2013
20062020@unknown@formal@none@1@S@"The economics of magazine publishing pretty much require that you have a pretty solid base" of big-time ad spenders, he adds.@@@@1@21@@oe@2-2-2013
20062021@unknown@formal@none@1@S@The first two issues featured ads from only a handful of big advertisers, including General Electric and Adolph Coors, but the majority were from companies like Waste Management Inc. and Bumkins International, firms that don't spend much money advertising and can't be relied on to support a magazine over the long haul.@@@@1@52@@oe@2-2-2013
20062022@unknown@formal@none@1@S@A Waste Management spokeswoman says its ad in the premiere issue was a one-time purchase, and it doesn't have any plans to advertise in future issues.@@@@1@26@@oe@2-2-2013
20062023@unknown@formal@none@1@S@"We don't spend much on print advertising," she says.@@@@1@9@@oe@2-2-2013
20062024@unknown@formal@none@1@S@But Ms. Poore, the magazine's editor and publisher, contends Garbage can survive, at least initially, on subscription revenues.@@@@1@18@@oe@2-2-2013
20062025@unknown@formal@none@1@S@Individual copies of the magazine sell for $2.95 and yearly subscriptions cost $21.@@@@1@13@@oe@2-2-2013
20062026@unknown@formal@none@1@S@(It is, of course, printed on recycled paper.)@@@@1@8@@oe@2-2-2013
20062027@unknown@formal@none@1@S@According to Ms. Poore, Old-House Journal Corp., her publishing company, printed and sold all 126,000 copies of the premiere issue.@@@@1@20@@oe@2-2-2013
20062028@unknown@formal@none@1@S@The first and second issues sold out on newsstands, she says, and the magazine has orders for 93,000 subscriptions.@@@@1@19@@oe@2-2-2013
20062029@unknown@formal@none@1@S@Asked whether potential advertisers will be scared away by the magazine's direct policy, Ms. Poore replies: "I don't know and I don't care.@@@@1@23@@oe@2-2-2013
20062030@unknown@formal@none@1@S@I'm not saying advertising revenue isn't important," she says, "but I couldn't sleep at night" if the magazine bowed to a company because they once took out an ad.@@@@1@29@@oe@2-2-2013
20062031@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
20062032@unknown@formal@none@1@S@INTERPUBLIC ON TV:@@@@1@3@@oe@2-2-2013
20062033@unknown@formal@none@1@S@Interpublic Group said its television programming operations -- which it expanded earlier this year -- agreed to supply more than 4,000 hours of original programming across Europe in 1990.@@@@1@29@@oe@2-2-2013
20062034@unknown@formal@none@1@S@It said the programs, largely game shows, will be provided by its E.C. Television unit along with Fremantle International, a producer and distributor of game shows of which it recently bought 49%.@@@@1@32@@oe@2-2-2013
20062035@unknown@formal@none@1@S@It said that volume makes it the largest supplier of original TV programming in Europe.@@@@1@15@@oe@2-2-2013
20062036@unknown@formal@none@1@S@Interpublic is providing the programming in return for advertising time, which it said will be valued at more than $75 million in 1990 and $150 million in 1991.@@@@1@28@@oe@2-2-2013
20062037@unknown@formal@none@1@S@It plans to sell the ad time to its clients at a discount.@@@@1@13@@oe@2-2-2013
20062038@unknown@formal@none@1@S@NEW ACCOUNT:@@@@1@2@@oe@2-2-2013
20062039@unknown@formal@none@1@S@CoreStates Financial Corp., Philadelphia, named Earle Palmer Brown & Spiro, Philadelphia, as agency of record for its $5 million account.@@@@1@20@@oe@2-2-2013
20062040@unknown@formal@none@1@S@The business had been handled by VanSant Dugdale, Baltimore.@@@@1@9@@oe@2-2-2013
20062041@unknown@formal@none@1@S@AT&T FAX:@@@@1@2@@oe@2-2-2013
20062042@unknown@formal@none@1@S@American Telephone & Telegraph's General Business Systems division, New York, awarded the ad account for its Fax product line to Ogilvy & Mather, New York, a WPP Group agency.@@@@1@29@@oe@2-2-2013
20062043@unknown@formal@none@1@S@Billings weren't disclosed for the small account, which had been serviced at Young & Rubicam, New York.@@@@1@17@@oe@2-2-2013
20062044@unknown@formal@none@1@S@FIRST CAMPAIGN:@@@@1@2@@oe@2-2-2013
20062045@unknown@formal@none@1@S@Enterprise Rent-A-Car Inc. breaks its first national ad campaign this week.@@@@1@11@@oe@2-2-2013
20062046@unknown@formal@none@1@S@The St. Louis firm specializes in replacement-car rentals, those provided by insurance companies for cars damaged in accidents.@@@@1@18@@oe@2-2-2013
20062047@unknown@formal@none@1@S@Developed by Avrett, Free & Ginsberg, New York, the $6 million campaign pitches Enterprise's consumer-driven service and its free pick-up and drop-off service.@@@@1@23@@oe@2-2-2013
20062048@unknown@formal@none@1@S@LANDOR ASSOCIATES:@@@@1@2@@oe@2-2-2013
20062049@unknown@formal@none@1@S@Young & Rubicam said it completed its acquisition of Landor Associates, a San Francisco identity-management firm.@@@@1@16@@oe@2-2-2013
20062050@unknown@formal@none@1@S@ACQUISITION:@@@@1@1@@oe@2-2-2013
20062051@unknown@formal@none@1@S@Ketchum Communications, Pittsburgh, acquired Braun & Co., a Los Angeles investor-relations and marketing-communications firm.@@@@1@14@@oe@2-2-2013
20062052@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20063001@unknown@formal@none@1@S@Sea Containers Ltd. said it might increase the price of its $70-a-share buy-back plan if pressed by Temple Holdings Ltd., which made an earlier tender offer for Sea Containers.@@@@1@29@@oe@2-2-2013
20063002@unknown@formal@none@1@S@Sea Containers, a Hamilton, Bermuda-based shipping concern, said Tuesday that it would sell $1.1 billion of assets and use some of the proceeds to buy about 50% of its common shares for $70 apiece.@@@@1@34@@oe@2-2-2013
20063003@unknown@formal@none@1@S@The move is designed to ward off a hostile takeover attempt by two European shipping concerns, Stena Holding AG and Tiphook PLC.@@@@1@22@@oe@2-2-2013
20063004@unknown@formal@none@1@S@In May, the two companies, through their jointly owned holding company, Temple, offered $50 a share, or $777 million, for Sea Containers.@@@@1@22@@oe@2-2-2013
20063005@unknown@formal@none@1@S@In August, Temple sweetened the offer to $63 a share, or $963 million.@@@@1@13@@oe@2-2-2013
20063006@unknown@formal@none@1@S@Yesterday, Sea Containers' chief executive officer, James Sherwood, said in an interview that, under the asset-sale plan, Sea Containers would end up with a cash surplus of approximately $620 million.@@@@1@30@@oe@2-2-2013
20063007@unknown@formal@none@1@S@About $490 million of that would be allocated to the buy-back, leaving about $130 million, he said.@@@@1@17@@oe@2-2-2013
20063008@unknown@formal@none@1@S@That $130 million, Mr. Sherwood said, "gives us some flexibility in case Temple raises its bid.@@@@1@16@@oe@2-2-2013
20063009@unknown@formal@none@1@S@We are able to increase our price above the $70 level if necessary.@@@@1@13@@oe@2-2-2013
20063010@unknown@formal@none@1@S@" He declined to say, however, how much Sea Containers might raise its price.@@@@1@14@@oe@2-2-2013
20063011@unknown@formal@none@1@S@Mr. Sherwood speculated that the leeway that Sea Containers has means that Temple would have to "substantially increase their bid if they're going to top us."@@@@1@26@@oe@2-2-2013
20063012@unknown@formal@none@1@S@Temple, however, harshly criticized Sea Containers' plan yesterday, characterizing it as a "highly conditional device designed to entrench management, confuse shareholders and prevent them from accepting our superior cash offer."@@@@1@30@@oe@2-2-2013
20063013@unknown@formal@none@1@S@A spokesman for Temple estimated that Sea Containers' plan -- if all the asset sales materialize -- would result in shareholders receiving only $36 to $45 a share in cash.@@@@1@30@@oe@2-2-2013
20063014@unknown@formal@none@1@S@The lower figures, the spokesman said, would stem from preferred shares being converted to common stock and the possibility that Sea Containers' subsidiaries might be required to place their shares in the open market.@@@@1@34@@oe@2-2-2013
20063015@unknown@formal@none@1@S@Temple added that Sea Containers is still mired in legal problems in Bermuda, where the Supreme Court has temporarily barred Sea Containers from buying back its own stock in a case brought by Stena and Tiphook.@@@@1@36@@oe@2-2-2013
20063016@unknown@formal@none@1@S@{The court has indicated it will rule on the case by the end of the month.}@@@@1@16@@oe@2-2-2013
20063017@unknown@formal@none@1@S@Temple also said Sea Containers' plan raises "numerous legal, regulatory, financial and fairness issues," but didn't elaborate.@@@@1@17@@oe@2-2-2013
20063018@unknown@formal@none@1@S@Mr. Sherwood said reaction to Sea Containers' proposal has been "very positive."@@@@1@12@@oe@2-2-2013
20063019@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Sea Containers closed at $62.625, up 62.5 cents.@@@@1@16@@oe@2-2-2013
20064001@unknown@formal@none@1@S@The Transportation Department, responding to pressure from safety advocates, took further steps to impose on light trucks and vans the safety requirements used for automobiles.@@@@1@25@@oe@2-2-2013
20064002@unknown@formal@none@1@S@The department proposed requiring stronger roofs for light trucks and minivans, beginning with 1992 models.@@@@1@15@@oe@2-2-2013
20064003@unknown@formal@none@1@S@It also issued a final rule requiring auto makers to equip light trucks and minivans with lap-shoulder belts for rear seats beginning in the 1992 model year.@@@@1@27@@oe@2-2-2013
20064004@unknown@formal@none@1@S@Such belts already are required for the vehicles' front seats.@@@@1@10@@oe@2-2-2013
20064005@unknown@formal@none@1@S@"Today's action," Transportation Secretary Samuel Skinner said, "represents another milestone in the ongoing program to promote vehicle occupant safety in light trucks and minivans through its extension of passenger car standards."@@@@1@31@@oe@2-2-2013
20064006@unknown@formal@none@1@S@In September, the department had said it will require trucks and minivans to be equipped with the same front-seat headrests that have long been required on passenger cars.@@@@1@28@@oe@2-2-2013
20064007@unknown@formal@none@1@S@The Big Three auto makers said the rule changes weren't surprising because Bush administration officials have long said they planned to impose car safety standards on light trucks and vans.@@@@1@30@@oe@2-2-2013
20064008@unknown@formal@none@1@S@Safety advocates, including some members of Congress, have been urging the department for years to extend car-safety requirements to light trucks and vans, which now account for almost one-third of all vehicle sales in the U.S.@@@@1@36@@oe@2-2-2013
20064009@unknown@formal@none@1@S@They say that many vehicles classed as commercial light trucks actually carry more people than cargo and therefore should have the same safety features as cars.@@@@1@26@@oe@2-2-2013
20064010@unknown@formal@none@1@S@They didn't have much luck during the Reagan administration.@@@@1@9@@oe@2-2-2013
20064011@unknown@formal@none@1@S@"But now, there seems to be a fairly systematic effort to address the problem," said Chuck Hurley, vice president of communications for the Insurance Institute for Highway Safety.@@@@1@28@@oe@2-2-2013
20064012@unknown@formal@none@1@S@"We're in a very different regulatory environment."@@@@1@7@@oe@2-2-2013
20064013@unknown@formal@none@1@S@Sen. John Danforth (R., Mo.) praised the department's actions, noting that rollover crashes account for almost half of all light-truck deaths.@@@@1@21@@oe@2-2-2013
20064014@unknown@formal@none@1@S@"We could prevent many of these fatalities with minimum roof-crush standards," he said.@@@@1@13@@oe@2-2-2013
20064015@unknown@formal@none@1@S@Sen. Danforth and others also want the department to require additional safety equipment in light trucks and minivans, including air bags or automatic seat belts in front seats and improved side-crash protection.@@@@1@32@@oe@2-2-2013
20064016@unknown@formal@none@1@S@The department's roof-crush proposal would apply to vehicles weighing 10,000 pounds or less.@@@@1@13@@oe@2-2-2013
20064017@unknown@formal@none@1@S@The roofs would be required to withstand a force of 1.5 times the unloaded weight of the vehicle.@@@@1@18@@oe@2-2-2013
20064018@unknown@formal@none@1@S@During the test, the roof couldn't be depressed more than five inches.@@@@1@12@@oe@2-2-2013
20064019@unknown@formal@none@1@S@In Detroit, a Chrysler Corp. official said the company currently has no rear-seat lap and shoulder belts in its light trucks, but plans to begin phasing them in by the end of the 1990 model year.@@@@1@36@@oe@2-2-2013
20064020@unknown@formal@none@1@S@He said Chrysler fully expects to have them installed across its light-truck line by the Sept. 1, 1991, deadline.@@@@1@19@@oe@2-2-2013
20064021@unknown@formal@none@1@S@Chrysler said its trucks and vans already meet the roof-crush resistance standard for cars.@@@@1@14@@oe@2-2-2013
20064022@unknown@formal@none@1@S@John Leinonen, executive engineer of Ford Motor Co.'s auto-safety office, said Ford trucks have met car standards for roof-crush resistance since 1982.@@@@1@22@@oe@2-2-2013
20064023@unknown@formal@none@1@S@Ford began installing the rear-seat belts in trucks with its F-series Crew Cab pickups in the 1989 model year.@@@@1@19@@oe@2-2-2013
20064024@unknown@formal@none@1@S@The new Explorer sport-utility vehicle, set for introduction next spring, will also have the rear-seat belts.@@@@1@16@@oe@2-2-2013
20064025@unknown@formal@none@1@S@Mr. Leinonen said he expects Ford to meet the deadline easily.@@@@1@11@@oe@2-2-2013
20065001@unknown@formal@none@1@S@Consolidated Rail Corp. said it would spend more than $30 million on 1,000 enclosed railcars for transporting autos.@@@@1@18@@oe@2-2-2013
20065002@unknown@formal@none@1@S@The multilevel railcars, scheduled for delivery in 1990, will be made by Thrall Manufacturing Co., a Chicago Heights, Ill., division of closely held Duchossois Industries Inc., Elmhurst, Ill.@@@@1@28@@oe@2-2-2013
20065003@unknown@formal@none@1@S@This year, the railroad holding company acquired 850 such railcars.@@@@1@10@@oe@2-2-2013
20066001@unknown@formal@none@1@S@Sir Peter Walters, 58-year-old chairman of British Petroleum Co. until next March, joins the board of this cement products company on Dec. 1.@@@@1@23@@oe@2-2-2013
20066002@unknown@formal@none@1@S@Sir Peter will succeed Sir John Milne, 65, who retires as Blue Circle nonexecutive chairman on June 1.@@@@1@18@@oe@2-2-2013
20067001@unknown@formal@none@1@S@Bank of New England Corp. said it has held talks with potential merger partners outside New England, although it added that nothing is imminent and it hasn't received any formal offers.@@@@1@31@@oe@2-2-2013
20067002@unknown@formal@none@1@S@The discussions were disclosed as the bank holding company said that it has dropped its longstanding opposition to full interstate banking bills in Connecticut and in Massachusetts.@@@@1@27@@oe@2-2-2013
20067003@unknown@formal@none@1@S@Later yesterday, a Massachusetts senate committee approved a bill to allow national interstate banking by banks in the state beginning in 1991.@@@@1@22@@oe@2-2-2013
20067004@unknown@formal@none@1@S@Currently, both Massachusetts and Connecticut, where most of Bank of New England's operations are, allow interstate banking only within New England.@@@@1@21@@oe@2-2-2013
20067005@unknown@formal@none@1@S@Richard Driscoll, vice chairman of Bank of New England, told the Dow Jones Professional Investor Report, "Certainly, there are those outside the region who think of us prospectively as a good partner.@@@@1@32@@oe@2-2-2013
20067006@unknown@formal@none@1@S@We have, and I'm sure others have, considered what our options are, and we've had conversations with people who in the future might prove to be interesting partners."@@@@1@28@@oe@2-2-2013
20067007@unknown@formal@none@1@S@He added, "There's nothing very hot."@@@@1@6@@oe@2-2-2013
20067008@unknown@formal@none@1@S@Mr. Driscoll didn't elaborate about who the potential partners were or when the talks were held.@@@@1@16@@oe@2-2-2013
20067009@unknown@formal@none@1@S@A bank spokeswoman also declined to comment on any merger-related matters, but said the company decided to drop its opposition to the interstate banking legislation because "prevailing sentiment is in favor of passage."@@@@1@33@@oe@2-2-2013
20067010@unknown@formal@none@1@S@Bank of New England has been hit hard by the region's real-estate slump, with its net income declining 42% to $121.6 million, or 61 cents a share, in the first nine months of 1989 from the year-earlier period.@@@@1@38@@oe@2-2-2013
20067011@unknown@formal@none@1@S@The company recently said it would sell some operations and lay off 4% of its work force, altogether reducing employment to less than 16,000 from about 18,000.@@@@1@27@@oe@2-2-2013
20067012@unknown@formal@none@1@S@It recently signed a preliminary agreement to negotiate exclusively with the Bank of Tokyo Ltd. for the sale of part of its leasing business to the Japanese bank.@@@@1@28@@oe@2-2-2013
20068001@unknown@formal@none@1@S@GOODY PRODUCTS Inc. cut its quarterly dividend to five cents a share from 11.5 cents a share.@@@@1@17@@oe@2-2-2013
20068002@unknown@formal@none@1@S@The reduced dividend is payable Jan. 2 to stock of record Dec. 15.@@@@1@13@@oe@2-2-2013
20068003@unknown@formal@none@1@S@The Kearny, N.J.-based maker of hair accessories and other cosmetic products said it cut the dividend due to its third-quarter loss of $992,000, or 15 cents a share.@@@@1@28@@oe@2-2-2013
20068004@unknown@formal@none@1@S@In the year-ago quarter, the company reported net income of $1.9 million, or 29 cents a share.@@@@1@17@@oe@2-2-2013
20068005@unknown@formal@none@1@S@The company also adopted an anti-takeover plan.@@@@1@7@@oe@2-2-2013
20069001@unknown@formal@none@1@S@Michael Henderson, 51-year-old group chief executive of this U.K. metals and industrial materials maker, will become chairman in May, succeeding Ian Butler, 64, who is retiring.@@@@1@26@@oe@2-2-2013
20069002@unknown@formal@none@1@S@Mr. Butler will remain on the board as a nonexecutive director.@@@@1@11@@oe@2-2-2013
20070001@unknown@formal@none@1@S@Rally's Inc. said it has redeemed its rights outstanding issued Monday in its shareholder rights plan.@@@@1@16@@oe@2-2-2013
20070002@unknown@formal@none@1@S@The company said holders of stock of record Nov. 10 will receive 1/10th of one cent a share as the redemption payment.@@@@1@22@@oe@2-2-2013
20070003@unknown@formal@none@1@S@The fast-food company said its decision was based upon discussions with a shareholder group, Giant Group Ltd., "in an effort to resolve certain disputes with the company."@@@@1@27@@oe@2-2-2013
20070004@unknown@formal@none@1@S@Giant Group is led by three Rally's directors, Burt Sugarman, James M. Trotter III and William E. Trotter II, who last month indicated they hold a 42.5% stake in Rally's and plan to seek a majority of seats on Rally's nine-member board.@@@@1@42@@oe@2-2-2013
20071001@unknown@formal@none@1@S@When Warren Winiarski, proprietor of Stag's Leap Wine Cellars in Napa Valley, announced a $75 price tag for his 1985 Cask 23 Cabernet this fall, few wine shops and restaurants around the country balked.@@@@1@34@@oe@2-2-2013
20071002@unknown@formal@none@1@S@"This is the peak of my wine-making experience," Mr. Winiarski declared when he introduced the wine at a dinner in New York, "and I wanted to single it out as such."@@@@1@31@@oe@2-2-2013
20071003@unknown@formal@none@1@S@It is in my estimation the best wine Stag's Leap has produced, and with fewer than 700 cases available, it is sure to sell quickly.@@@@1@25@@oe@2-2-2013
20071004@unknown@formal@none@1@S@The price is a new high for California Cabernet Sauvignon, but it is not the highest.@@@@1@16@@oe@2-2-2013
20071005@unknown@formal@none@1@S@Diamond Creek 1985 Lake Vineyard Cabernet weighed in this fall with a sticker price of $100 a bottle.@@@@1@18@@oe@2-2-2013
20071006@unknown@formal@none@1@S@One of the fastest growing segments of the wine market is the category of superpremiums -- wines limited in production, of exceptional quality (or so perceived, at any rate), and with exceedingly high prices.@@@@1@34@@oe@2-2-2013
20071007@unknown@formal@none@1@S@For years, this group included a stable of classics -- Bordeaux first growths (Lafite-Rothschild, Latour, Haut-Brion, Petrus), Grand Cru Burgundies (Romanee-Conti and La Tache) deluxe Champagnes (Dom Perignon or Roederer Cristal), rarefied sweet wines (Chateau Yquem or Trockenbeerenauslesen Rieslings from Germany, and Biondi-Santi Brunello Riserva from Tuscany).@@@@1@47@@oe@2-2-2013
20071008@unknown@formal@none@1@S@These first magnitude wines ranged in price from $40 to $125 a bottle.@@@@1@13@@oe@2-2-2013
20071009@unknown@formal@none@1@S@In the last year or so, however, this exclusive club has taken in a host of flashy new members.@@@@1@19@@oe@2-2-2013
20071010@unknown@formal@none@1@S@The classics have zoomed in price to meet the competition, and it almost seems that there's a race on to come up with the priciest single bottle, among current releases from every major wine region on the globe.@@@@1@38@@oe@2-2-2013
20071011@unknown@formal@none@1@S@France can boast the lion's share of high-priced bottles.@@@@1@9@@oe@2-2-2013
20071012@unknown@formal@none@1@S@Bordeaux's first growths from 1985 and 1986 are $60 to $80 each (except for the smallest in terms of production, Chateau Petrus, which costs around $250!).@@@@1@26@@oe@2-2-2013
20071013@unknown@formal@none@1@S@These prices seem rather modest, however, in light of other French wines from current vintages.@@@@1@15@@oe@2-2-2013
20071014@unknown@formal@none@1@S@Chateau Yquem, the leading Sauternes, now goes for well over $100 a bottle for a lighter vintage like 1984; the spectacularly rich 1983 runs $179.@@@@1@25@@oe@2-2-2013
20071015@unknown@formal@none@1@S@In Champagne, some of the prestige cuvees are inching toward $100 a bottle.@@@@1@13@@oe@2-2-2013
20071016@unknown@formal@none@1@S@The first Champagne to crack that price barrier was the 1979 Salon de Mesnil Blanc de Blancs.@@@@1@17@@oe@2-2-2013
20071017@unknown@formal@none@1@S@The '82 Salon is $115.@@@@1@5@@oe@2-2-2013
20071018@unknown@formal@none@1@S@Roederer Cristal at $90 a bottle sells out around the country and Taittinger's Comtes de Champagne Blanc de Blancs is encroaching upon that level.@@@@1@24@@oe@2-2-2013
20071019@unknown@formal@none@1@S@The great reds of the Rhone Valley have soared in price as well.@@@@1@13@@oe@2-2-2013
20071020@unknown@formal@none@1@S@E. Guigal's 1982 Cote Rotie La Landonne, for example, is $120.@@@@1@11@@oe@2-2-2013
20071021@unknown@formal@none@1@S@None of France's wine regions can steal a march on Burgundy, however.@@@@1@12@@oe@2-2-2013
20071022@unknown@formal@none@1@S@The six wines of the Domaine de la Romanee-Conti, 72 of the most precious acres of vineyard anywhere in the world, have commanded three-digit price tags for several years now.@@@@1@30@@oe@2-2-2013
20071023@unknown@formal@none@1@S@With the 1985 vintage, they soared higher: La Tache, $195; Richebourg, $180; Romanee-Conti, $225.@@@@1@14@@oe@2-2-2013
20071024@unknown@formal@none@1@S@Another small Burgundy estate, Coche-Dury, has just offered its 1987 Corton-Charlemagne for $155.@@@@1@13@@oe@2-2-2013
20071025@unknown@formal@none@1@S@From Italy there is Angelo Gaja Barbaresco at $125 a bottle, Piero Antinori's La Solaia, a $90 Cabernet from Tuscany, and Biondi-Santi Brunello at $98.@@@@1@25@@oe@2-2-2013
20071026@unknown@formal@none@1@S@Spain's Vega Secilia Unico 1979 (released only in its 10th year) is $70, as is Australia's Grange Hermitage 1982.@@@@1@19@@oe@2-2-2013
20071027@unknown@formal@none@1@S@"There are certain cult wines that can command these higher prices," says Larry Shapiro of Marty's, one of the largest wine shops in Dallas.@@@@1@24@@oe@2-2-2013
20071028@unknown@formal@none@1@S@"What's different is that it is happening with young wines just coming out.@@@@1@13@@oe@2-2-2013
20071029@unknown@formal@none@1@S@We're seeing it partly because older vintages are growing more scarce."@@@@1@11@@oe@2-2-2013
20071030@unknown@formal@none@1@S@Wine auctions have almost exhausted the limited supply of those wines, Mr. Shapiro continued: "We've seen a dramatic decrease in demand for wines from the '40s and '50s, which go for $300 to $400 a bottle.@@@@1@36@@oe@2-2-2013
20071031@unknown@formal@none@1@S@Some of the newer wines, even at $90 to $100 a bottle or so, almost offer a bargain."@@@@1@18@@oe@2-2-2013
20071032@unknown@formal@none@1@S@Take Lake Vineyard Cabernet from Diamond Creek.@@@@1@7@@oe@2-2-2013
20071033@unknown@formal@none@1@S@It's made only in years when the grapes ripen perfectly (the last was 1979) and comes from a single acre of grapes that yielded a mere 75 cases in 1987.@@@@1@30@@oe@2-2-2013
20071034@unknown@formal@none@1@S@Owner Al Brownstein originally planned to sell it for $60 a bottle, but when a retailer in Southern California asked, "Is that wholesale or retail?" he re-thought the matter.@@@@1@29@@oe@2-2-2013
20071035@unknown@formal@none@1@S@Offering the wine at roughly $65 a bottle wholesale ($100 retail), he sent merchants around the country a form asking them to check one of three answers: 1) no, the wine is too high (2 responses); 2) yes, it's high but I'll take it (2 responses); 3) I'll take all I can get (58 responses).@@@@1@55@@oe@2-2-2013
20071036@unknown@formal@none@1@S@The wine was shipped in six-bottle cases instead of the usual 12, but even at that it was spread thin, going to 62 retailers in 28 states.@@@@1@27@@oe@2-2-2013
20071037@unknown@formal@none@1@S@"We thought it was awfully expensive," said Sterling Pratt, wine director at Schaefer's in Skokie, Ill., one of the top stores in suburban Chicago, "but there are people out there with very different opinions of value.@@@@1@36@@oe@2-2-2013
20071038@unknown@formal@none@1@S@We got our two six-packs -- and they're gone."@@@@1@9@@oe@2-2-2013
20071039@unknown@formal@none@1@S@Mr. Pratt remarked that he thinks steeper prices have come about because producers don't like to see a hit wine dramatically increase in price later on.@@@@1@26@@oe@2-2-2013
20071040@unknown@formal@none@1@S@Even if there is consumer resistance at first, a wine that wins high ratings from the critics will eventually move.@@@@1@20@@oe@2-2-2013
20071041@unknown@formal@none@1@S@"There may be sticker-shock reaction initially," said Mr. Pratt, "but as the wine is talked about and starts to sell, they eventually get excited and decide it's worth the astronomical price to add it to their collection."@@@@1@37@@oe@2-2-2013
20071042@unknown@formal@none@1@S@"It's just sort of a one-upsmanship thing with some people," added Larry Shapiro.@@@@1@13@@oe@2-2-2013
20071043@unknown@formal@none@1@S@"They like to talk about having the new Red Rock Terrace {one of Diamond Creek's Cabernets} or the Dunn 1985 Cabernet, or the Petrus.@@@@1@24@@oe@2-2-2013
20071044@unknown@formal@none@1@S@Producers have seen this market opening up and they're now creating wines that appeal to these people."@@@@1@17@@oe@2-2-2013
20071045@unknown@formal@none@1@S@That explains why the number of these wines is expanding so rapidly.@@@@1@12@@oe@2-2-2013
20071046@unknown@formal@none@1@S@But consumers who buy at this level are also more knowledgeable than they were a few years ago.@@@@1@18@@oe@2-2-2013
20071047@unknown@formal@none@1@S@"They won't buy if the quality is not there," said Cedric Martin of Martin Wine Cellar in New Orleans.@@@@1@19@@oe@2-2-2013
20071048@unknown@formal@none@1@S@"Or if they feel the wine is overpriced and they can get something equally good for less."@@@@1@17@@oe@2-2-2013
20071049@unknown@formal@none@1@S@Mr. Martin has increased prices on some wines (like Grgich Hills Chardonnay, now $32) just to slow down movement, but he is beginning to see some resistance to high-priced red Burgundies and Cabernets and Chardonnays in the $30 to $40 range.@@@@1@41@@oe@2-2-2013
20071050@unknown@formal@none@1@S@Image has, of course, a great deal to do with what sells and what doesn't, and it can't be forced.@@@@1@20@@oe@2-2-2013
20071051@unknown@formal@none@1@S@Wine merchants can't keep Roederer Cristal in stock, but they have to push Salon le Mesnil, even lowering the price from $115 to $90.@@@@1@24@@oe@2-2-2013
20071052@unknown@formal@none@1@S@It's hardly a question of quality -- the 1982 Salon is a beautiful wine, but, as Mr. Pratt noted, people have their own ideas about value.@@@@1@26@@oe@2-2-2013
20071053@unknown@formal@none@1@S@It's interesting to find that a lot of the expensive wines aren't always walking out the door.@@@@1@17@@oe@2-2-2013
20071054@unknown@formal@none@1@S@In every major market in the U.S., for instance, you can buy '86 La Tache or Richebourg, virtually all of the first growth Bordeaux (except Petrus), as well as Opus One and Dominus from California and, at the moment, the Stag's Leap 1985 Cask 23.@@@@1@45@@oe@2-2-2013
20071055@unknown@formal@none@1@S@With the biggest wine-buying period of the year looming as the holidays approach, it will be interesting to see how the superpremiums fare.@@@@1@23@@oe@2-2-2013
20071056@unknown@formal@none@1@S@By January it should be fairly clear what's hot -- and what's not.@@@@1@13@@oe@2-2-2013
20071057@unknown@formal@none@1@S@Ms. Ensrud is a free-lance wine writer in New York.@@@@1@10@@oe@2-2-2013
20072001@unknown@formal@none@1@S@Signs of a slowing economy are increasing pressure on the Federal Reserve to cut short-term interest rates, but it isn't clear whether the central bank will do so.@@@@1@28@@oe@2-2-2013
20072002@unknown@formal@none@1@S@A survey by the Fed's 12 district banks shows economic growth has been sluggish in recent weeks, while upward pressures on prices have moderated.@@@@1@24@@oe@2-2-2013
20072003@unknown@formal@none@1@S@"The economy is clearly slowing," says Robert Black, president of the Richmond Federal Reserve Bank.@@@@1@15@@oe@2-2-2013
20072004@unknown@formal@none@1@S@"If you look at the third quarter as posting roughly 2.5% growth, I do see some slowing in the fourth quarter," agrees Kansas City Fed President Roger Guffey.@@@@1@28@@oe@2-2-2013
20072005@unknown@formal@none@1@S@Nevertheless, both Mr. Guffey and Mr. Black say the slowdown so far is no cause for concern.@@@@1@17@@oe@2-2-2013
20072006@unknown@formal@none@1@S@"We're coming closer to achieving the stated objective of slowing the economy to a point where hopefully some downward trend in prices will occur," said Mr. Guffey.@@@@1@27@@oe@2-2-2013
20072007@unknown@formal@none@1@S@Bush administration officials are looking to the Fed to bring down rates, and financial markets seem to be expecting easier credit as well.@@@@1@23@@oe@2-2-2013
20072008@unknown@formal@none@1@S@"I think the market had been expecting the Fed to ease sooner and a little more than it has to date," said Robert Johnson, vice president of global markets for Bankers Trust Co.@@@@1@33@@oe@2-2-2013
20072009@unknown@formal@none@1@S@The Fed cut the key federal funds interest rate by about 0.25 percentage point to 8.75% after the Oct. 13 stock market plunge, but has shown no sign of movement since.@@@@1@31@@oe@2-2-2013
20072010@unknown@formal@none@1@S@The report from the Fed found that manufacturing, in particular, has been weak in recent weeks.@@@@1@16@@oe@2-2-2013
20072011@unknown@formal@none@1@S@The Philadelphia Fed, for instance, reported that manufacturing activity "continues to decline" for the fourth month in a row.@@@@1@19@@oe@2-2-2013
20072012@unknown@formal@none@1@S@And in the Chicago district, the report said, "a manufacturer of capital goods noted slower orders for some types, including defense equipment, petroleum equipment, food packaging machinery and material handling equipment."@@@@1@31@@oe@2-2-2013
20072013@unknown@formal@none@1@S@Retail sales also were reported slow in most districts, particularly "for discretionary, big-ticket items such as furniture, home appliances and consumer electronics."@@@@1@22@@oe@2-2-2013
20072014@unknown@formal@none@1@S@And construction also was described as slow in most areas.@@@@1@10@@oe@2-2-2013
20072015@unknown@formal@none@1@S@Despite the economic slowdown, there are few clear signs that growth is coming to a halt.@@@@1@16@@oe@2-2-2013
20072016@unknown@formal@none@1@S@As a result, Fed officials may be divided over whether to ease credit.@@@@1@13@@oe@2-2-2013
20072017@unknown@formal@none@1@S@Several Fed governors in Washington have been pushing for easier credit; but many of the regional Fed presidents have been resisting such a move.@@@@1@24@@oe@2-2-2013
20072018@unknown@formal@none@1@S@Mr. Black said he is "pleased" with the economy's recent performance, and doesn't see "a lot of excesses out there that would tilt us into recession."@@@@1@26@@oe@2-2-2013
20072019@unknown@formal@none@1@S@"There is always a chance of recession," added Mr. Guffey, "but if you ask me to put a percentage on it, I would think it's well below a 50% chance.@@@@1@30@@oe@2-2-2013
20073001@unknown@formal@none@1@S@Integra-A Hotel & Restaurant Co. said its planned rights offering to raise about $9 million was declared effective and the company will begin mailing materials to shareholders at the end of this week.@@@@1@33@@oe@2-2-2013
20073002@unknown@formal@none@1@S@Under the offer, shareholders will receive one right for each 105 common shares owned.@@@@1@14@@oe@2-2-2013
20073003@unknown@formal@none@1@S@Each right entitles the shareholder to buy $100 face amount of 13.5% bonds due 1993 and warrants to buy 23.5 common shares at 30 cents a share.@@@@1@27@@oe@2-2-2013
20073004@unknown@formal@none@1@S@The rights, which expire Nov. 21, can be exercised for $100 each.@@@@1@12@@oe@2-2-2013
20073005@unknown@formal@none@1@S@Integra, which owns and operates hotels, said that Hallwood Group Inc. has agreed to exercise any rights that aren't exercised by other shareholders.@@@@1@23@@oe@2-2-2013
20073006@unknown@formal@none@1@S@Hallwood, a Cleveland merchant bank, owns about 11% of Integra.@@@@1@10@@oe@2-2-2013
20074001@unknown@formal@none@1@S@Copperweld Corp., a specialty steelmaker, said 445 workers at a plant in Shelby, Ohio, began a strike after the United Steelworkers Local 3057 rejected a new contract on Tuesday.@@@@1@29@@oe@2-2-2013
20074002@unknown@formal@none@1@S@The previous contract between Copperweld's Ohio Steel Tube division and the union expired at midnight Tuesday.@@@@1@16@@oe@2-2-2013
20074003@unknown@formal@none@1@S@The union vote to reject the proposed pact was 230-215.@@@@1@10@@oe@2-2-2013
20074004@unknown@formal@none@1@S@Copperweld said it doesn't expect a protracted strike.@@@@1@8@@oe@2-2-2013
20074005@unknown@formal@none@1@S@It said it has taken measures to continue shipments during the work stoppage.@@@@1@13@@oe@2-2-2013
20075001@unknown@formal@none@1@S@The Treasury said it plans to sell $30 billion in notes and bonds next week, but said the auctions will be postponed unless Congress acts quickly to lift the federal debt ceiling.@@@@1@32@@oe@2-2-2013
20075002@unknown@formal@none@1@S@Michael Basham, deputy assistant secretary for federal finance, said the Treasury may wait until late Monday or even early Tuesday to announce whether the autions are to be rescheduled.@@@@1@29@@oe@2-2-2013
20075003@unknown@formal@none@1@S@Unless it can raise money in financial markets, Mr. Basham said, the federal government won't have the cash to pay off $13.8 billion in Treasury bills that mature on Thursday.@@@@1@30@@oe@2-2-2013
20075004@unknown@formal@none@1@S@Without congressional action, the Treasury can't sell any new securities -- even savings bonds.@@@@1@14@@oe@2-2-2013
20075005@unknown@formal@none@1@S@But despite partisan bickering over the debt ceiling, which has become entangled in the fight over cutting capital-gains taxes, Congress is almost certain to act in time to avoid default.@@@@1@30@@oe@2-2-2013
20075006@unknown@formal@none@1@S@"Each day that Congress fails to act . . . will cause additional disruption in our borrowing schedule, possibly resulting in higher interest costs to the taxpayer," Treasury Secretary Nicholas Brady said in a speech prepared for delivery last night to a group of bankers.@@@@1@45@@oe@2-2-2013
20075007@unknown@formal@none@1@S@"To avoid these costs, and a possible default, immediate action is imperative."@@@@1@12@@oe@2-2-2013
20075008@unknown@formal@none@1@S@The securities to be sold next week will raise about $10 billion in cash and redeem $20 billion in maturing notes.@@@@1@21@@oe@2-2-2013
20075009@unknown@formal@none@1@S@The new securities, part of the federal government's regular quarterly refunding, will consist of:@@@@1@14@@oe@2-2-2013
20075010@unknown@formal@none@1@S@-- $10 billion of three-year notes, to be auctioned Tuesday and to mature Nov. 15, 1992.@@@@1@16@@oe@2-2-2013
20075011@unknown@formal@none@1@S@-- $10 billion of 10-year notes, to be auctioned Wednesday and to mature Nov. 15, 1999.@@@@1@16@@oe@2-2-2013
20075012@unknown@formal@none@1@S@-- $10 billion of 30-year bonds, to be auctioned Thursday and to mature Aug. 15, 2019.@@@@1@16@@oe@2-2-2013
20075013@unknown@formal@none@1@S@The Treasury also said it plans to sell $10 billion in 36-day cash management bills on Thursday.@@@@1@17@@oe@2-2-2013
20075014@unknown@formal@none@1@S@They will mature Dec. 21.@@@@1@5@@oe@2-2-2013
20075015@unknown@formal@none@1@S@None of the securities will be eligible for when-issued trading until Congress approves an increase in the debt ceiling, clearing the way for a formal offering, Mr. Basham said.@@@@1@29@@oe@2-2-2013
20075016@unknown@formal@none@1@S@The Treasury said it needs to raise $47.5 billion in the current quarter in order to end December with a $20 billion cash balance.@@@@1@24@@oe@2-2-2013
20075017@unknown@formal@none@1@S@Auctions held in October and those scheduled for next week will raise a total of $25.6 billion.@@@@1@17@@oe@2-2-2013
20075018@unknown@formal@none@1@S@The remaining $21.9 billion could be raised through the sale of short-term Treasury bills, two-year notes in November and five-year notes in early December, the Treasury said.@@@@1@27@@oe@2-2-2013
20075019@unknown@formal@none@1@S@In the first three months of 1990, the Treasury estimates that it will have to raise between $45 billion and $50 billion, assuming that it decides to aim for a $10 billion cash balance at the end of March.@@@@1@39@@oe@2-2-2013
20076001@unknown@formal@none@1@S@Lancaster Colony Corp. said it acquired Reames Foods Inc. in a cash transaction.@@@@1@13@@oe@2-2-2013
20076002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20076003@unknown@formal@none@1@S@Reames, a maker and marketer of frozen noodles and pre-cooked pasta based in Clive, Iowa, has annual sales of about $11 million, Lancaster said.@@@@1@24@@oe@2-2-2013
20077001@unknown@formal@none@1@S@Investors took advantage of Tuesday's stock rally to book some profits yesterday, leaving stocks up fractionally.@@@@1@16@@oe@2-2-2013
20077002@unknown@formal@none@1@S@Bond prices and the dollar both gained modestly.@@@@1@8@@oe@2-2-2013
20077003@unknown@formal@none@1@S@The Dow Jones Industrial Average finished less than a point higher to close at 2645.90 in moderate trading.@@@@1@18@@oe@2-2-2013
20077004@unknown@formal@none@1@S@But advancing issues on the New York Stock Exchange were tidily ahead of declining stocks, 847 to 644.@@@@1@18@@oe@2-2-2013
20077005@unknown@formal@none@1@S@Long-term bond prices rose despite prospects of a huge new supply of Treasury debt this month.@@@@1@16@@oe@2-2-2013
20077006@unknown@formal@none@1@S@Continuing demand for dollars from Japanese investors boosted the U.S. currency.@@@@1@11@@oe@2-2-2013
20077007@unknown@formal@none@1@S@Analysts were disappointed that the enthusiasm investors showed for stocks in the wake of Georgia-Pacific's $3.18 billion bid for Great Northern Nekoosa evaporated so quickly.@@@@1@25@@oe@2-2-2013
20077008@unknown@formal@none@1@S@The industrial average jumped more than 41 points Tuesday as speculators rushed to buy shares of potential takeover targets.@@@@1@19@@oe@2-2-2013
20077009@unknown@formal@none@1@S@But with the end of the year in sight, money managers are eager to take profits and cut their risks of losing what for many have been exceptionally good returns in@@@@1@31@@oe@2-2-2013
20077010@unknown@formal@none@1@S@Economic news had little effect on financial markets.@@@@1@8@@oe@2-2-2013
20077011@unknown@formal@none@1@S@As expected, a national purchasing managers' report indicated the nation's manufacturing sector continues to contract modestly.@@@@1@16@@oe@2-2-2013
20077012@unknown@formal@none@1@S@The Federal Reserve's Beige Book, a summary of economic conditions across the country, indicated that the overall economy remains in a pattern of sluggish growth.@@@@1@25@@oe@2-2-2013
20077013@unknown@formal@none@1@S@In major market activity:@@@@1@4@@oe@2-2-2013
20077014@unknown@formal@none@1@S@Stock prices rose fractionally in moderate trading.@@@@1@7@@oe@2-2-2013
20077015@unknown@formal@none@1@S@Big Board volume totaled 154.2 million shares.@@@@1@7@@oe@2-2-2013
20077016@unknown@formal@none@1@S@Bond prices were up.@@@@1@4@@oe@2-2-2013
20077017@unknown@formal@none@1@S@The Treasury's benchmark 30-year bond gained about a quarter of a point, or $2.50 for each $1,000 of face amount.@@@@1@20@@oe@2-2-2013
20077018@unknown@formal@none@1@S@The yield fell to 7.88%.@@@@1@5@@oe@2-2-2013
20077019@unknown@formal@none@1@S@The dollar rose.@@@@1@3@@oe@2-2-2013
20077020@unknown@formal@none@1@S@In late afternoon New York trading the currency was at 1.8500 marks and 143.80 yen compared with 1.8415 marks and 142.85 yen.@@@@1@22@@oe@2-2-2013
20078001@unknown@formal@none@1@S@Mitsui Mining & Smelting Co. posted a 62% rise in pretax profit to 5.276 billion yen ($36.9 million) in its fiscal first half ended Sept. 30 compared with 3.253 billion yen a year earlier.@@@@1@34@@oe@2-2-2013
20078002@unknown@formal@none@1@S@Net income more than tripled to 4.898 billion yen from 1.457 billion yen a year earlier.@@@@1@16@@oe@2-2-2013
20079001@unknown@formal@none@1@S@Eaton Corp. said it sold its Pacific Sierra Research Corp. unit to a company formed by employees of that unit.@@@@1@20@@oe@2-2-2013
20079002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20079003@unknown@formal@none@1@S@Pacific Sierra, based in Los Angeles, has about 200 employees and supplies professional services and advanced products to industry.@@@@1@19@@oe@2-2-2013
20079004@unknown@formal@none@1@S@Eaton is an automotive parts, controls and aerospace electronics concern.@@@@1@10@@oe@2-2-2013
20080001@unknown@formal@none@1@S@Investor Harold Simmons and NL Industries Inc. offered to acquire Georgia Gulf Corp. for $50 a share, or about $1.1 billion, stepping up the pressure on the commodity chemicals concern.@@@@1@30@@oe@2-2-2013
20080002@unknown@formal@none@1@S@The offer follows an earlier proposal by NL and Mr. Simmons to help Georgia Gulf restructure or go private in a transaction that would pay shareholders $55 a share.@@@@1@29@@oe@2-2-2013
20080003@unknown@formal@none@1@S@Georgia Gulf rebuffed that offer in September and said it would study other alternatives.@@@@1@14@@oe@2-2-2013
20080004@unknown@formal@none@1@S@However, it hasn't yet made any proposals to shareholders.@@@@1@9@@oe@2-2-2013
20080005@unknown@formal@none@1@S@Late yesterday, Georgia Gulf said it reviewed the NL proposal as well as interests from "third parties" regarding business combinations.@@@@1@20@@oe@2-2-2013
20080006@unknown@formal@none@1@S@Georgia Gulf said it hasn't eliminated any alternatives and that "discussions are being held with interested parties, and work is also continuing on other various transactions."@@@@1@26@@oe@2-2-2013
20080007@unknown@formal@none@1@S@It didn't elaborate.@@@@1@3@@oe@2-2-2013
20080008@unknown@formal@none@1@S@Analysts saw the latest offer as proof that Mr. Simmons, an aggressive and persistent investor, won't leave Georgia Gulf alone until some kind of transaction is completed.@@@@1@27@@oe@2-2-2013
20080009@unknown@formal@none@1@S@"He has clamped on their ankle like a pit bull," says Paul Leming, a vice president with Morgan Stanley & Co.@@@@1@21@@oe@2-2-2013
20080010@unknown@formal@none@1@S@"He appears to be in it for the long haul."@@@@1@10@@oe@2-2-2013
20080011@unknown@formal@none@1@S@Mr. Simmons and NL already own a 9.9% stake in Georgia Gulf.@@@@1@12@@oe@2-2-2013
20080012@unknown@formal@none@1@S@Mr. Simmons owns 88% of Valhi Inc., which in turn owns two-thirds of NL.@@@@1@14@@oe@2-2-2013
20080013@unknown@formal@none@1@S@NL is officially making the offer.@@@@1@6@@oe@2-2-2013
20080014@unknown@formal@none@1@S@Mr. Leming wasn't surprised by the lower price cited by NL, saying he believes that $55 a share is "the most you can pay for Georgia Gulf before it becomes a bad acquisition."@@@@1@33@@oe@2-2-2013
20080015@unknown@formal@none@1@S@Georgia Gulf stock rose $1.75 a share yesterday to close at $51.25 a share, while NL shares closed unchanged at $22.75 and Valhi rose 62.5 cents to $15, all in New York Stock Exchange composite trading.@@@@1@36@@oe@2-2-2013
20080016@unknown@formal@none@1@S@J. Landis Martin, NL president and chief executive officer, said NL and Mr. Simmons cut the price they were proposing for Georgia Gulf because they initially planned a transaction that included about $250 million in equity and a substantial amount of high-yield subordinated debt.@@@@1@44@@oe@2-2-2013
20080017@unknown@formal@none@1@S@However, the junk-bond market has collapsed in recent weeks, lessening the likelihood that such a transaction would succeed.@@@@1@18@@oe@2-2-2013
20080018@unknown@formal@none@1@S@Now, he said, the group plans to put in "several hundred million" dollars in equity and finance the remainder with bank debt.@@@@1@22@@oe@2-2-2013
20080019@unknown@formal@none@1@S@He also said that the group reduced its offer because it wasn't allowed to see Georgia Gulf's confidential financial information without agreeing that it wouldn't make an offer unless it had Georgia Gulf's consent.@@@@1@34@@oe@2-2-2013
20080020@unknown@formal@none@1@S@In a letter to Georgia Gulf President Jerry R. Satrum, Mr. Martin asked Georgia Gulf to answer its offer by Tuesday.@@@@1@21@@oe@2-2-2013
20080021@unknown@formal@none@1@S@It wasn't clear how NL and Mr. Simmons would respond if Georgia Gulf spurns them again.@@@@1@16@@oe@2-2-2013
20080022@unknown@formal@none@1@S@Mr. Martin said they haven't yet decided what their next move would be, but he didn't rule out the possibility of a consent solicitation aimed at replacing Georgia Gulf's board.@@@@1@30@@oe@2-2-2013
20080023@unknown@formal@none@1@S@In other transactions, Mr. Simmons has followed friendly offers with a hostile tender offer.@@@@1@14@@oe@2-2-2013
20080024@unknown@formal@none@1@S@Although Georgia Gulf hasn't been eager to negotiate with Mr. Simmons and NL, a specialty chemicals concern, the group apparently believes the company's management is interested in some kind of transaction.@@@@1@31@@oe@2-2-2013
20080025@unknown@formal@none@1@S@The management group owns about 18% of the stock, most purchased at nominal prices, and would stand to gain millions of dollars if the company were sold.@@@@1@27@@oe@2-2-2013
20080026@unknown@formal@none@1@S@In the third quarter, Georgia Gulf earned $46.1 million, or $1.85 a share, down from $53 million, or $1.85 a share on fewer shares outstanding.@@@@1@25@@oe@2-2-2013
20080027@unknown@formal@none@1@S@Sales fell to $251.2 million from $278.7 million.@@@@1@8@@oe@2-2-2013
20081001@unknown@formal@none@1@S@A licensing company representing the University of Pennsylvania added Johnson & Johnson to its lawsuit challenging a university faculty member over rights to Retin-A acne medicine.@@@@1@26@@oe@2-2-2013
20081002@unknown@formal@none@1@S@University Patents Inc., based in Westport, Conn., said it seeks Johnson & Johnson's profits from sales of Retin-A, estimated at $50 million, a similar amount of punitive damages and the right to license Retin-A elsewhere.@@@@1@35@@oe@2-2-2013
20081003@unknown@formal@none@1@S@In May, University Patents filed a suit in federal court in Philadelphia against Albert M. Kligman, a researcher and professor at the University of Pennsylvania School of Medicine who developed Retin-A in the 1960s to combat acne.@@@@1@37@@oe@2-2-2013
20081004@unknown@formal@none@1@S@Dr. Kligman patented the medicine while employed by the University, but later licensed the Retin-A to a division of Johnson & Johnson.@@@@1@22@@oe@2-2-2013
20081005@unknown@formal@none@1@S@In New Brunswick, N.J., a Johnson & Johnson spokesman declined comment.@@@@1@11@@oe@2-2-2013
20082001@unknown@formal@none@1@S@Criticism in the U.S. over recent Japanese acquisitions is looming ever larger in the two countries' relations.@@@@1@17@@oe@2-2-2013
20082002@unknown@formal@none@1@S@Officials from both nations say the U.S. public's skittishness about Japanese investment could color a second round of bilateral economic talks scheduled for next week in Washington.@@@@1@27@@oe@2-2-2013
20082003@unknown@formal@none@1@S@Not that Washington and Tokyo disagree on the Japanese acquisitions; indeed, each has come out in favor of unfettered investment in the U.S.@@@@1@23@@oe@2-2-2013
20082004@unknown@formal@none@1@S@Where they disagree is on the subject of U.S. direct investment in Japan.@@@@1@13@@oe@2-2-2013
20082005@unknown@formal@none@1@S@The U.S. wants the removal of what it perceives as barriers to investment; Japan denies there are real barriers.@@@@1@19@@oe@2-2-2013
20082006@unknown@formal@none@1@S@The heated talk stirred up by recent Japanese investments in the U.S. is focusing attention on the differences in investment climate, even though it's only one of many subjects to be covered in the bilateral talks, known as the Structural Impediments Initiative.@@@@1@42@@oe@2-2-2013
20082007@unknown@formal@none@1@S@The Japanese "should see this rhetoric as a signal of the need for a change in their own economy," says Charles Dallara, U.S. assistant Treasury secretary, who has been in Tokyo this week informally discussing the impending negotiations with government and business leaders.@@@@1@43@@oe@2-2-2013
20082008@unknown@formal@none@1@S@"We have a long history of maintaining an open direct-investment policy," Mr. Dallara says.@@@@1@14@@oe@2-2-2013
20082009@unknown@formal@none@1@S@"U.S. investors should have a greater opportunity at direct investment" in Japan.@@@@1@12@@oe@2-2-2013
20082010@unknown@formal@none@1@S@The Japanese fret openly about the U.S. public's rancor.@@@@1@9@@oe@2-2-2013
20082011@unknown@formal@none@1@S@One clear sign of Japan's nervousness came this week, when a spokesman for Japan's Foreign Ministry devoted nearly all of a regular, half-hour briefing for foreign journalists to the subject of recent Japanese investments in the U.S.@@@@1@37@@oe@2-2-2013
20082012@unknown@formal@none@1@S@"We believe that it is vitally important for those Japanese business interests {in the U.S.} to be more aware of the emotions and concerns of the American people," said the spokesman, Taizo Watanabe.@@@@1@33@@oe@2-2-2013
20082013@unknown@formal@none@1@S@At the same time, though, he chastised the media for paying such close attention to Japanese investment when other foreign countries, notably Britain, are acquiring more American assets.@@@@1@28@@oe@2-2-2013
20082014@unknown@formal@none@1@S@Fears that Japanese investors are buying up America have escalated sharply in the past several weeks, with Sony Corp.'s purchase of Columbia Pictures Entertainment Inc. from Coca-Cola Co. and Mitsubishi Estate Co.'s acquisition of a 51% holding in Rockefeller Group, the owner of some of midtown Manhattan's most exclusive real estate.@@@@1@51@@oe@2-2-2013
20082015@unknown@formal@none@1@S@Even before those moves added fuel, the fires of discontent had been well stoked by the highly publicized experience in Japan of one U.S. investor, T. Boone Pickens Jr.@@@@1@29@@oe@2-2-2013
20082016@unknown@formal@none@1@S@The Texas oilman has acquired a 26.2% stake valued at more than $1.2 billion in an automotive-lighting company, Koito Manufacturing Co.@@@@1@21@@oe@2-2-2013
20082017@unknown@formal@none@1@S@But he has failed to gain any influence at the company.@@@@1@11@@oe@2-2-2013
20082018@unknown@formal@none@1@S@Koito has refused to grant Mr. Pickens seats on its board, asserting he is a greenmailer trying to pressure Koito's other shareholders into buying him out at a profit.@@@@1@29@@oe@2-2-2013
20082019@unknown@formal@none@1@S@Mr. Pickens made considerable political hay with his troubles in Japan.@@@@1@11@@oe@2-2-2013
20082020@unknown@formal@none@1@S@The Senate Finance Committee, chaired by a fellow Texan, Democratic Sen. Lloyd Bentsen, last month urged U.S. Trade Representative Carla Hills to use Mr. Pickens's experience in talks with Tokyo "to highlight this problem facing Americans who seek access to the Japanese capital markets."@@@@1@44@@oe@2-2-2013
20082021@unknown@formal@none@1@S@While Mr. Dallara and Japanese officials say the question of investors' access to the U.S. and Japanese markets may get a disproportionate share of the public's attention, a number of other important economic issues will be on the table at next week's talks.@@@@1@43@@oe@2-2-2013
20082022@unknown@formal@none@1@S@Among them are differences in savings and investment rates, corporate structures and management, and government spending.@@@@1@16@@oe@2-2-2013
20082023@unknown@formal@none@1@S@Each side has a litany of recommendations for the other.@@@@1@10@@oe@2-2-2013
20082024@unknown@formal@none@1@S@The U.S. says it is anxious for results.@@@@1@8@@oe@2-2-2013
20082025@unknown@formal@none@1@S@"We feel very strongly that we really need action across the full range of issues we've identified, and we need it by next spring," Mr. Dallara says.@@@@1@27@@oe@2-2-2013
20082026@unknown@formal@none@1@S@Both sides have agreed that the talks will be most successful if negotiators start by focusing on the areas that can be most easily changed.@@@@1@25@@oe@2-2-2013
20082027@unknown@formal@none@1@S@But they haven't clarified what those might be.@@@@1@8@@oe@2-2-2013
20082028@unknown@formal@none@1@S@After the first set of meetings two months ago, some U.S. officials complained that Japan hadn't come up with specific changes it was prepared to make.@@@@1@26@@oe@2-2-2013
20082029@unknown@formal@none@1@S@The Japanese retort that the first round was too early to make concessions.@@@@1@13@@oe@2-2-2013
20082030@unknown@formal@none@1@S@"Just to say the distribution system is wrong doesn't mean anything," says a Ministry of International Trade and Industry official.@@@@1@20@@oe@2-2-2013
20082031@unknown@formal@none@1@S@"We need to clarify what exactly is wrong with it."@@@@1@10@@oe@2-2-2013
20082032@unknown@formal@none@1@S@That process of sorting out specifics is likely to take time, the Japanese say, no matter how badly the U.S. wants quick results.@@@@1@23@@oe@2-2-2013
20082033@unknown@formal@none@1@S@For instance, at the first meeting the two sides couldn't even agree on basic data used in price discussions.@@@@1@19@@oe@2-2-2013
20082034@unknown@formal@none@1@S@Since then, a team of about 15 MITI and U.S. Commerce Department officials have crossed the globe gauging consumer prices.@@@@1@20@@oe@2-2-2013
20082035@unknown@formal@none@1@S@By Monday, they hope to have a sheaf of documents both sides can trust.@@@@1@14@@oe@2-2-2013
20082036@unknown@formal@none@1@S@"Little by little, there is progress," says the MITI official.@@@@1@10@@oe@2-2-2013
20082037@unknown@formal@none@1@S@"Both sides are taking action."@@@@1@5@@oe@2-2-2013
20082038@unknown@formal@none@1@S@Elisabeth Rubinfien contributed to this article.@@@@1@6@@oe@2-2-2013
20083001@unknown@formal@none@1@S@While worry grows about big Japanese investments in the U.S., Japan's big trading companies are rapidly increasing their stake in America's smaller business.@@@@1@23@@oe@2-2-2013
20083002@unknown@formal@none@1@S@For Japan, the controversial trend improves access to American markets and technology.@@@@1@12@@oe@2-2-2013
20083003@unknown@formal@none@1@S@But for small American companies, it also provides a growing source of capital and even marketing help.@@@@1@17@@oe@2-2-2013
20083004@unknown@formal@none@1@S@Take the deal with Candela Laser Corp., a Wayland, Mass., manufacturer of high-tech medical devices, which three years ago set its sights on Japan as an export market.@@@@1@28@@oe@2-2-2013
20083005@unknown@formal@none@1@S@Partly to help clear the myriad obstacles facing any overseas company trying to penetrate Japan, tiny Candela turned to Mitsui & Co., one of Japan's largest trading companies, for investment.@@@@1@30@@oe@2-2-2013
20083006@unknown@formal@none@1@S@In a joint-venture deal, Mitsui guided Candela through Tokyo's bureaucratic maze.@@@@1@11@@oe@2-2-2013
20083007@unknown@formal@none@1@S@It eventually secured Ministry of Health import approval for two Candela laser products -- one that breaks up kidney stones and another that treats skin lesions.@@@@1@26@@oe@2-2-2013
20083008@unknown@formal@none@1@S@At last count, Candela had sold $4 million of its medical devices in Japan.@@@@1@14@@oe@2-2-2013
20083009@unknown@formal@none@1@S@The deal also gave Mitsui access to a high-tech medical product.@@@@1@11@@oe@2-2-2013
20083010@unknown@formal@none@1@S@"They view this as a growth area so they went about it with a systematic approach," says Richard Olsen, a Candela vice president.@@@@1@23@@oe@2-2-2013
20083011@unknown@formal@none@1@S@Indeed, for many Japanese trading companies, the favorite U.S. small business is one whose research and development can be milked for future Japanese use.@@@@1@24@@oe@2-2-2013
20083012@unknown@formal@none@1@S@The Japanese companies bankroll many small U.S. companies with promising products or ideas, frequently putting their money behind projects that commercial banks won't touch.@@@@1@24@@oe@2-2-2013
20083013@unknown@formal@none@1@S@Japanese companies have financed small and medium-sized U.S. firms for years, but in recent months, the pace has taken off.@@@@1@20@@oe@2-2-2013
20083014@unknown@formal@none@1@S@In the first half of 1989 alone, Japanese corporations invested $214 million in minority positions in U.S. companies, a 61% rise from the figure for all of 1987, reports Venture Economics Inc.@@@@1@32@@oe@2-2-2013
20083015@unknown@formal@none@1@S@The Needham, Mass., concern tracks investments in new businesses.@@@@1@9@@oe@2-2-2013
20083016@unknown@formal@none@1@S@In addition, of course, some of the Japanese investments involved outright purchase of small U.S. firms.@@@@1@16@@oe@2-2-2013
20083017@unknown@formal@none@1@S@Heightened Japanese interest in American small business parallels an acceleration of investments giving Japanese companies control of large, highly visible U.S. corporations, such as Columbia Pictures Entertainment Inc.@@@@1@28@@oe@2-2-2013
20083018@unknown@formal@none@1@S@Only this week, it was announced that Mitsubishi Estate Co. had acquired a 51% stake in Rockefeller Group, which owns New York's prestigious Rockefeller Center.@@@@1@25@@oe@2-2-2013
20083019@unknown@formal@none@1@S@While the small deals are far less conspicuous, they add to Japanese penetration of the U.S. market.@@@@1@17@@oe@2-2-2013
20083020@unknown@formal@none@1@S@As the deals also improve Japanese access to American technology and market knowledge, they feed American anxieties in this area, too.@@@@1@21@@oe@2-2-2013
20083021@unknown@formal@none@1@S@Even a low-tech product like plate glass can catch a trading company's fancy if there's a strategic fit.@@@@1@18@@oe@2-2-2013
20083022@unknown@formal@none@1@S@Free State Glass Industries of Warrenton, Va., a small fabricator of architectural glass, was foundering under its original management.@@@@1@19@@oe@2-2-2013
20083023@unknown@formal@none@1@S@Last year, Mitsubishi International Corp., the New York-based arm of Mitsubishi Corp., bought controlling interest in the glass company in a joint venture with Ronald Bodner, a glass industry executive and Mitsubishi consultant.@@@@1@33@@oe@2-2-2013
20083024@unknown@formal@none@1@S@The deal is chiefly designed to give Mitsubishi a window on the U.S. glass industry, says Ichiro Wakui, an executive in Mitsubishi's general merchandise department in New York.@@@@1@28@@oe@2-2-2013
20083025@unknown@formal@none@1@S@"It's not just a simple investment in a small company," Mr. Wakui says.@@@@1@13@@oe@2-2-2013
20083026@unknown@formal@none@1@S@"We want to see the glass market from the inside, not the outside."@@@@1@13@@oe@2-2-2013
20083027@unknown@formal@none@1@S@Mitsubishi's investment in Free State is "very small . . . less than $4 million," Mr. Wakui says.@@@@1@18@@oe@2-2-2013
20083028@unknown@formal@none@1@S@Mr. Bodner declines to comment on the arrangement.@@@@1@8@@oe@2-2-2013
20083029@unknown@formal@none@1@S@Trading companies such as Mitsubishi, Mitsui, C. Itoh & Co. and Nissho-Iwai Corp., which make many of the Japanese investments in small U.S. concerns, have no U.S. counterpart.@@@@1@28@@oe@2-2-2013
20083030@unknown@formal@none@1@S@These vertically integrated combines, some of which got their start in Japan's feudal period, deal globally in commodities, construction and manufacturing.@@@@1@21@@oe@2-2-2013
20083031@unknown@formal@none@1@S@They operate ships and banks.@@@@1@5@@oe@2-2-2013
20083032@unknown@formal@none@1@S@"All the "sogo-shosha" are looking for new business," says Arthur Klauser, adviser to the president of Mitsui, U.S.A., using the Japanese term for the largest of the global trading houses.@@@@1@30@@oe@2-2-2013
20083033@unknown@formal@none@1@S@Adds Takeshi Kondo, senior vice president of C. Itoh America Inc.: "We have a great interest in making investments, particularly in new ventures."@@@@1@23@@oe@2-2-2013
20083034@unknown@formal@none@1@S@A host of electronics firms in California's Silicon Valley were financed with trading-company venture capital.@@@@1@15@@oe@2-2-2013
20083035@unknown@formal@none@1@S@Profit, at least in the short term, is usually a secondary goal.@@@@1@12@@oe@2-2-2013
20083036@unknown@formal@none@1@S@"Strategic objectives, not financial return, drive many of the deals," says a Venture Economics spokesman.@@@@1@15@@oe@2-2-2013
20083037@unknown@formal@none@1@S@In investing on the basis of future transactions, a role often performed by merchant banks, trading companies can cut through the logjam that small-company owners often face with their local commercial banks.@@@@1@32@@oe@2-2-2013
20083038@unknown@formal@none@1@S@"It's the classic problem of the small businessman," says Malcolm Davies, managing director of Trading Alliance Corp. of New York.@@@@1@20@@oe@2-2-2013
20083039@unknown@formal@none@1@S@"People are queuing at the door to take his product but he doesn't have the working capital to make the thing and commercial banks are very unsympathetic.@@@@1@27@@oe@2-2-2013
20083040@unknown@formal@none@1@S@They want assets, they want a balance sheet, which has no relation to the business a company can generate."@@@@1@19@@oe@2-2-2013
20083041@unknown@formal@none@1@S@Adds Mitsui's Mr. Klauser: "Unlike corporations in this country, trading companies aren't so much interested in a high return on investment as they are on increasing trade flows.@@@@1@28@@oe@2-2-2013
20083042@unknown@formal@none@1@S@To the extent they can do this, they're quite content to get a return on investment of 1% to 2%."@@@@1@20@@oe@2-2-2013
20083043@unknown@formal@none@1@S@Mr. Klauser says Mitsui has 75 U.S. subsidiaries in which it holds 35% interest or more and the trading company hopes to double the number of its U.S. affiliates in 1990.@@@@1@31@@oe@2-2-2013
20083044@unknown@formal@none@1@S@Sales by these subsidiaries in the fiscal year ending last March were more than $17 billion.@@@@1@16@@oe@2-2-2013
20083045@unknown@formal@none@1@S@A 1% to 2% return on $17 billion "ain't hay," Mr. Klauser says.@@@@1@13@@oe@2-2-2013
20084001@unknown@formal@none@1@S@Hudson General Corp.'s president and chief executive officer, Alan J. Stearn, resigned.@@@@1@12@@oe@2-2-2013
20084002@unknown@formal@none@1@S@Mr. Stearn, 46 years old, couldn't be reached for comment.@@@@1@10@@oe@2-2-2013
20084003@unknown@formal@none@1@S@A company spokesman declined to elaborate on the departure.@@@@1@9@@oe@2-2-2013
20084004@unknown@formal@none@1@S@Hudson General, which provides maintenance, fueling and other services to airlines and airports, reported a loss for its most recent fiscal year and last month omitted the semiannual dividend on its common shares.@@@@1@33@@oe@2-2-2013
20084005@unknown@formal@none@1@S@Mr. Stearn, who had been with the company more than 20 years and had been president since 1984, will act as a consultant to Hudson General.@@@@1@26@@oe@2-2-2013
20084006@unknown@formal@none@1@S@His duties as chief executive will be assumed by Chairman Jay B. Langner.@@@@1@13@@oe@2-2-2013
20085001@unknown@formal@none@1@S@For 10 years, Genie Driskill went to her neighborhood bank because it was convenient.@@@@1@14@@oe@2-2-2013
20085002@unknown@formal@none@1@S@A high-balance customer that banks pine for, she didn't give much thought to the rates she was receiving, nor to the fees she was paying.@@@@1@25@@oe@2-2-2013
20085003@unknown@formal@none@1@S@But in August, First Atlanta National Bank introduced its Crown Account, a package designed to lure customers such as Ms. Driskill.@@@@1@21@@oe@2-2-2013
20085004@unknown@formal@none@1@S@Among other things, it included checking, safe deposit box and credit card -- all for free -- plus a good deal on installment loans.@@@@1@24@@oe@2-2-2013
20085005@unknown@formal@none@1@S@All she had to do was put $15,000 in a certificate of deposit, or qualify for a $10,000 personal line of credit.@@@@1@22@@oe@2-2-2013
20085006@unknown@formal@none@1@S@"I deserve something for my loyalty," she says.@@@@1@8@@oe@2-2-2013
20085007@unknown@formal@none@1@S@She took her business to First Atlanta.@@@@1@7@@oe@2-2-2013
20085008@unknown@formal@none@1@S@So it goes in the competitive world of consumer banking these days.@@@@1@12@@oe@2-2-2013
20085009@unknown@formal@none@1@S@For nearly a decade, banks have competed for customers primarily with the interest rates they pay on their deposits and charge on their loans.@@@@1@24@@oe@2-2-2013
20085010@unknown@formal@none@1@S@The competitive rates were generally offset by hefty fees on various services.@@@@1@12@@oe@2-2-2013
20085011@unknown@formal@none@1@S@But many banks are turning away from strict price competition.@@@@1@10@@oe@2-2-2013
20085012@unknown@formal@none@1@S@Instead, they are trying to build customer loyalty by bundling their services into packages and targeting them to small segments of the population.@@@@1@23@@oe@2-2-2013
20085013@unknown@formal@none@1@S@"You're dead in the water if you aren't segmenting the market," says Anne Moore, president of Synergistics Research Corp., a bank consulting firm in Atlanta.@@@@1@25@@oe@2-2-2013
20085014@unknown@formal@none@1@S@NCNB Corp. of Charlotte, N.C., recently introduced its Financial Connections Program aimed at young adults just starting careers.@@@@1@18@@oe@2-2-2013
20085015@unknown@formal@none@1@S@The program not only offers a pre-approved car loan up to $18,000, but throws in a special cash-flow statement to help in saving money.@@@@1@24@@oe@2-2-2013
20085016@unknown@formal@none@1@S@In September, Union Planters Corp. of Memphis, Tenn., launched The Edge account, a package designed for the "thirtysomething" crowd with services that include a credit card and line of credit with no annual fees, and a full percentage point off on installment loans.@@@@1@43@@oe@2-2-2013
20085017@unknown@formal@none@1@S@The theory: Such individuals, many with young children, are in their prime borrowing years -- and, having borrowed from the bank, they may continue to use it for other services in later years.@@@@1@33@@oe@2-2-2013
20085018@unknown@formal@none@1@S@For some time, banks have been aiming packages at the elderly, the demographic segment with the highest savings.@@@@1@18@@oe@2-2-2013
20085019@unknown@formal@none@1@S@Those efforts are being stepped up.@@@@1@6@@oe@2-2-2013
20085020@unknown@formal@none@1@S@Judie MacDonald, vice president of retail sales at Barnett Banks Inc. of Jacksonville, Fla., says the company now targets sub-segments within the market by tailoring its popular Seniors Partners Program to various life styles.@@@@1@34@@oe@2-2-2013
20085021@unknown@formal@none@1@S@"Varying age, geography and life-style differences create numerous sub-markets," Ms. MacDonald says.@@@@1@12@@oe@2-2-2013
20085022@unknown@formal@none@1@S@She says individual Barnett branches can add different benefits to their Seniors Partners package -- such as athletic activities or travel clubs -- to appeal to local market interests.@@@@1@29@@oe@2-2-2013
20085023@unknown@formal@none@1@S@"An active 55-year-old in Boca Raton may care more about Senior Olympic games, while a 75-year-old in Panama City may care more about a seminar on health," she says.@@@@1@29@@oe@2-2-2013
20085024@unknown@formal@none@1@S@Banks have tried packaging before.@@@@1@5@@oe@2-2-2013
20085025@unknown@formal@none@1@S@In 1973, Wells Fargo & Co. of San Francisco launched the Gold Account, which included free checking, a credit card, safe-deposit box and travelers checks for a $3 monthly fee.@@@@1@30@@oe@2-2-2013
20085026@unknown@formal@none@1@S@The concept begot a slew of copycats, but the banks stopped promoting the packages.@@@@1@14@@oe@2-2-2013
20085027@unknown@formal@none@1@S@One big reason: thin margins.@@@@1@5@@oe@2-2-2013
20085028@unknown@formal@none@1@S@Many banks, particularly smaller ones, were slow to computerize and couldn't target market niches that would have made the programs more profitable.@@@@1@22@@oe@2-2-2013
20085029@unknown@formal@none@1@S@As banks' earnings were squeezed in the mid-1970s, the emphasis switched to finding ways to cut costs.@@@@1@17@@oe@2-2-2013
20085030@unknown@formal@none@1@S@But now computers are enabling more banks to analyze their customers by age, income and geography.@@@@1@16@@oe@2-2-2013
20085031@unknown@formal@none@1@S@They are better able to get to those segments in the wake of the deregulation that began in the late 1970s.@@@@1@21@@oe@2-2-2013
20085032@unknown@formal@none@1@S@Deregulation has effectively removed all restrictions on what banks can pay for deposits, as well as opened up the field for new products such as high-rate CDs.@@@@1@27@@oe@2-2-2013
20085033@unknown@formal@none@1@S@Where a bank once offered a standard passbook savings account, it began offering money-market accounts, certificates of deposit and interest-bearing checking, and staggering rates based on the size of deposits.@@@@1@30@@oe@2-2-2013
20085034@unknown@formal@none@1@S@The competition has grown more intense as bigger banks such as Norwest Corp. of Minneapolis and Chemical Banking Corp. of New York extend their market-share battles into small towns across the nation.@@@@1@32@@oe@2-2-2013
20085035@unknown@formal@none@1@S@"Today, a banker is worrying about local, regional and money-center {banks}, as well as thrifts and credit unions," says Ms. Moore at Synergistics Research.@@@@1@24@@oe@2-2-2013
20085036@unknown@formal@none@1@S@"So people who weren't even thinking about targeting 10 years ago are scrambling to define their customer base."@@@@1@18@@oe@2-2-2013
20085037@unknown@formal@none@1@S@The competition has cultivated a much savvier consumer.@@@@1@8@@oe@2-2-2013
20085038@unknown@formal@none@1@S@"The average household will spread 19 accounts over a dozen financial institutions," says Michael P. Sullivan, who runs his own bank consulting firm in Charlotte, N.C.@@@@1@26@@oe@2-2-2013
20085039@unknown@formal@none@1@S@"This much fragmentation makes attracting and keeping today's rate-sensitive customers costly."@@@@1@11@@oe@2-2-2013
20085040@unknown@formal@none@1@S@Packages encourage loyalty by rewarding customers for doing the bulk of their banking in one place.@@@@1@16@@oe@2-2-2013
20085041@unknown@formal@none@1@S@For their troubles, the banks get a larger captive audience that is less likely to move at the drop of a rate.@@@@1@22@@oe@2-2-2013
20085042@unknown@formal@none@1@S@The more accounts customers have, Mr. Sullivan says, the more likely they are to be attracted to a package -- and to be loyal to the bank that offers it.@@@@1@30@@oe@2-2-2013
20085043@unknown@formal@none@1@S@That can pay off down the road as customers, especially the younger ones, change from borrowers to savers/investors.@@@@1@18@@oe@2-2-2013
20085044@unknown@formal@none@1@S@Packaging has some drawbacks.@@@@1@4@@oe@2-2-2013
20085045@unknown@formal@none@1@S@The additional technology, personnel training and promotional effort can be expensive.@@@@1@11@@oe@2-2-2013
20085046@unknown@formal@none@1@S@Chemical Bank spent more than $50 million to introduce its ChemPlus line, several packages aimed at different segments, in 1986, according to Thomas Jacob, senior vice president of marketing.@@@@1@29@@oe@2-2-2013
20085047@unknown@formal@none@1@S@"It's not easy to roll out something that comprehensive, and make it pay," Mr. Jacob says.@@@@1@16@@oe@2-2-2013
20085048@unknown@formal@none@1@S@Still, bankers expect packaging to flourish, primarily because more customers are demanding that financial services be tailored to their needs.@@@@1@20@@oe@2-2-2013
20085049@unknown@formal@none@1@S@"These days, banking customers walk in the door expecting you to have a package especially for them," Ms. Moore says.@@@@1@20@@oe@2-2-2013
20085050@unknown@formal@none@1@S@Some banks are already moving in that direction, according to Alvin T. Sale, marketing director at First Union Corp. in Charlotte.@@@@1@21@@oe@2-2-2013
20085051@unknown@formal@none@1@S@First Union, he says, now has packages for seven customer groups.@@@@1@11@@oe@2-2-2013
20085052@unknown@formal@none@1@S@Soon, it will split those into 30.@@@@1@7@@oe@2-2-2013
20085053@unknown@formal@none@1@S@Says Mr. Sale: "I think more banks are starting to realize that we have to be more like the department store, not the boutique."@@@@1@24@@oe@2-2-2013
20085054@unknown@formal@none@1@S@IRAs.@@@@1@1@@oe@2-2-2013
20086001@unknown@formal@none@1@S@SHAREDATA Inc. said it will amend a registration statement filed with the Securities and Exchange Commission to delete a plan to sell 500,000 newly issued common shares.@@@@1@27@@oe@2-2-2013
20086002@unknown@formal@none@1@S@The Chandler, Ariz., company said it will resubmit the registration to cover only the 2.3 million warrants, each exercisable for the purchase of one common share.@@@@1@26@@oe@2-2-2013
20086003@unknown@formal@none@1@S@Currently, ShareData has about 4.1 million common shares outstanding.@@@@1@9@@oe@2-2-2013
20086004@unknown@formal@none@1@S@ShareData develops and markets low-cost software, peripheral equipment and accessories for computers.@@@@1@12@@oe@2-2-2013
20087001@unknown@formal@none@1@S@Five things you can do for $15,000 or less:@@@@1@9@@oe@2-2-2013
20087002@unknown@formal@none@1@S@1. Buy a new Chevrolet.@@@@1@5@@oe@2-2-2013
20087003@unknown@formal@none@1@S@2. Take a Hawaiian vacation.@@@@1@5@@oe@2-2-2013
20087004@unknown@formal@none@1@S@3. Send your child to a university.@@@@1@7@@oe@2-2-2013
20087005@unknown@formal@none@1@S@4. Buy a diamond necklace.@@@@1@5@@oe@2-2-2013
20087006@unknown@formal@none@1@S@5. Make a lasting difference in the regulatory life of an American savings-and-loan association through the Foster Corporate Parents Plan.@@@@1@20@@oe@2-2-2013
20087007@unknown@formal@none@1@S@Americans today spend $15,000 like pocket change -- they don't think much about it.@@@@1@14@@oe@2-2-2013
20087008@unknown@formal@none@1@S@But for an ailing savings-and-loan association -- teetering on insolvency -- it can lead to safety from imminent demise and to a future full of promise.@@@@1@26@@oe@2-2-2013
20087009@unknown@formal@none@1@S@Your $15,000 will help keep a needy savings and loan solvent -- and out of the federal budget deficit.@@@@1@19@@oe@2-2-2013
20087010@unknown@formal@none@1@S@As a Foster Corporate Parent, you'll be helping a neighborhood S&L in areas crucial to its survival.@@@@1@17@@oe@2-2-2013
20087011@unknown@formal@none@1@S@Like healthy regulatory capital.@@@@1@4@@oe@2-2-2013
20087012@unknown@formal@none@1@S@A steady deposit base.@@@@1@4@@oe@2-2-2013
20087013@unknown@formal@none@1@S@Performing loans.@@@@1@2@@oe@2-2-2013
20087014@unknown@formal@none@1@S@At the same time, you'll give your Foster Savings Institution the gift of hope and freedom from the federal regulators who want to close its doors -- for good.@@@@1@29@@oe@2-2-2013
20087015@unknown@formal@none@1@S@As a Foster Corporate Parent, you will experience the same joy felt by Robert Bass, Lewis Ranieri, William Simon and others, who find ways to help troubled savings institutions and their employees help themselves.@@@@1@34@@oe@2-2-2013
20087016@unknown@formal@none@1@S@That builds confidence, self sufficiency, not to mention critical regulatory net worth.@@@@1@12@@oe@2-2-2013
20087017@unknown@formal@none@1@S@Don't wait -- a savings institution needs your help now!@@@@1@10@@oe@2-2-2013
20087018@unknown@formal@none@1@S@Every day you delay, a savings institution's health -- and the federal budget deficit -- grows worse.@@@@1@17@@oe@2-2-2013
20087019@unknown@formal@none@1@S@Think about the good you can do for just $15,000 a month, about the cost of a mid-size Chevrolet or two semesters at a state university.@@@@1@26@@oe@2-2-2013
20087020@unknown@formal@none@1@S@Then send your support to a savings institution that has taken a bad rap in the press and on its bottom line.@@@@1@22@@oe@2-2-2013
20087021@unknown@formal@none@1@S@Every $15,000 you send will go a long way to boost sagging net worth and employee morale -- and keep your Foster Savings Institution off the federal budget deficit!@@@@1@29@@oe@2-2-2013
20087022@unknown@formal@none@1@S@Mr. Baris is a lawyer in New York.@@@@1@8@@oe@2-2-2013
20088001@unknown@formal@none@1@S@The Chicago Mercantile Exchange said it plans to institute an additional "circuit breaker" aimed at stemming market slides.@@@@1@18@@oe@2-2-2013
20088002@unknown@formal@none@1@S@Separately, John Phelan told a closed House subcommittee meeting in Washington that he would support Securities and Exchange Commission halts of program trading during market emergencies.@@@@1@26@@oe@2-2-2013
20088003@unknown@formal@none@1@S@But the New York Stock Exchange chairman said he doesn't support reinstating a "collar" on program trading, arguing that firms could get around such a limit.@@@@1@26@@oe@2-2-2013
20088004@unknown@formal@none@1@S@The Chicago Merc said a new one-hour price limit would take effect in its Standard & Poor's 500 stock-index futures pit once S&P 500 futures fell 20 index points -- the equivalent of about a 150-point drop in the Dow Jones Industrial Average.@@@@1@43@@oe@2-2-2013
20088005@unknown@formal@none@1@S@If the 20-point limit is triggered after 1:30 p.m. Chicago time, it would remain in effect until the normal close of trading at 3:15 p.m.@@@@1@25@@oe@2-2-2013
20088006@unknown@formal@none@1@S@With the limit in effect, members would be able to execute trades at the limit price or at higher prices, but not below it.@@@@1@24@@oe@2-2-2013
20088007@unknown@formal@none@1@S@The exchange said it decided a new circuit breaker was needed following a review of the tumultuous trading in stocks and stock-index futures on Friday Oct. 13, when the Dow Jones industrials plunged 190 points and stock-index futures prices skidded as well.@@@@1@42@@oe@2-2-2013
20088008@unknown@formal@none@1@S@Late that afternoon the S&P 500 stock-index futures contract fell a total of 30 index points, hitting a Merc circuit breaker limit that remained in effect for the rest of the trading session.@@@@1@33@@oe@2-2-2013
20088009@unknown@formal@none@1@S@The Merc said that its existing 30-minute, 12-point limit on S&P 500 stock-index futures trading (equal to about 100 points on the Dow Jones industrials), which was triggered Oct. 13, will remain in effect.@@@@1@34@@oe@2-2-2013
20088010@unknown@formal@none@1@S@Leo Melamed, Merc executive committee chairman, said that the 12-point limit appeared to lessen the selling panic Oct. 13.@@@@1@19@@oe@2-2-2013
20088011@unknown@formal@none@1@S@But when the contract reopened, the subsequent flood of sell orders that quickly knocked the contract down to the 30-point limit indicated that the intermediate limit of 20 points was needed to help keep stock and stock-index futures prices synchronized.@@@@1@40@@oe@2-2-2013
20088012@unknown@formal@none@1@S@Several traders maintained that the Merc's 12-point circuit-breaker aggravated the market slide Oct. 13 by directing additional selling pressure to the floor of the New York Stock Exchange.@@@@1@28@@oe@2-2-2013
20088013@unknown@formal@none@1@S@All of the changes require regulatory approval, which is expected shortly.@@@@1@11@@oe@2-2-2013
20088014@unknown@formal@none@1@S@The exchange also said that the 30-point circuit breaker, which currently provides only a one-hour respite during market sell-offs, will become the maximum one-day limit for the S&P 500 stock-index futures contract; the one-day limit now is 50 index points.@@@@1@40@@oe@2-2-2013
20088015@unknown@formal@none@1@S@A final modification was made to the five-point opening limit for the contract.@@@@1@13@@oe@2-2-2013
20088016@unknown@formal@none@1@S@The Merc said that five-point limit will remain in effect for the first 10 minutes of trading.@@@@1@17@@oe@2-2-2013
20088017@unknown@formal@none@1@S@The limit lapses under current exchange rules if contracts trade above the limit price during the opening 10 minutes of trading.@@@@1@21@@oe@2-2-2013
20088018@unknown@formal@none@1@S@In Washington, House aides said Mr. Phelan told congressmen that the collar, which banned program trades through the Big Board's computer when the Dow Jones Industrial Average moved 50 points, didn't work well.@@@@1@33@@oe@2-2-2013
20088019@unknown@formal@none@1@S@He said that firms could get around the collar by executing trades manually.@@@@1@13@@oe@2-2-2013
20088020@unknown@formal@none@1@S@In a post-hearing news conference, Mr. Phelan, who has publicly expressed concern about market volatility, said he told the House finance and telecommunications subcommittee that he would support the program-trading halt proposal "providing the SEC would be comfortable with the language" in a bill.@@@@1@44@@oe@2-2-2013
20088021@unknown@formal@none@1@S@The program-trading issue is heating up on Capitol Hill as it is on Wall Street, and several legislators want to grant the SEC the power to shut off the programs when trading becomes too volatile.@@@@1@35@@oe@2-2-2013
20088022@unknown@formal@none@1@S@SEC Chairman Richard Breeden has said he would be willing to consider circuit breakers that have preset trigger points, but he doesn't want discretionary power to stop programs.@@@@1@28@@oe@2-2-2013
20088023@unknown@formal@none@1@S@A House aide suggested that Mr. Phelan was so "vague and mushy" that it was the kind of meeting where people of all viewpoints could "come out feeling good."@@@@1@29@@oe@2-2-2013
20088024@unknown@formal@none@1@S@At one point, Mr. Phelan angered the subcommittee's chairman, Rep. Edward Markey (D., Mass.), by not going much beyond what already had been reported in the morning newspapers.@@@@1@28@@oe@2-2-2013
20088025@unknown@formal@none@1@S@"Markey said we could have done this in public" because so little sensitive information was disclosed, the aide said.@@@@1@19@@oe@2-2-2013
20088026@unknown@formal@none@1@S@Mr. Phelan then responded that he would have been happy just writing a report to the panel, the aide added.@@@@1@20@@oe@2-2-2013
20088027@unknown@formal@none@1@S@At another point during the hearing, Rep. Markey asked Mr. Phelan what would be discussed at a New York exchange board meeting today.@@@@1@23@@oe@2-2-2013
20088028@unknown@formal@none@1@S@Mr. Phelan said the Big Board is likely to study the program-trading issue.@@@@1@13@@oe@2-2-2013
20088029@unknown@formal@none@1@S@That response annoyed Rep. Markey, House aides said, and the congressman snapped back that there had been enough studies of the issue and that it was time for action on the matter.@@@@1@32@@oe@2-2-2013
20088030@unknown@formal@none@1@S@Fifteen of the 26 subcommittee members attended the hearing, most notably Rep. John Dingell (D., Mich.), the full House Energy and Commerce Committee chairman, who has been willing to let Mr. Markey carry the legislation in recent months.@@@@1@38@@oe@2-2-2013
20088031@unknown@formal@none@1@S@Mr. Dingell expressed concern, sources said, about jurisdictional problems in regulating program trading, which uses futures to offset stock trades.@@@@1@20@@oe@2-2-2013
20088032@unknown@formal@none@1@S@The futures industry is regulated by the Commodity Futures Trading Commission, which reports to the Agriculture committees in both houses.@@@@1@20@@oe@2-2-2013
20089001@unknown@formal@none@1@S@The art of change-ringing is peculiar to the English, and, like most English peculiarities, unintelligible to the rest of the world.@@@@1@21@@oe@2-2-2013
20089002@unknown@formal@none@1@S@-- Dorothy L. Sayers, "The Nine Tailors"@@@@1@7@@oe@2-2-2013
20089003@unknown@formal@none@1@S@ASLACTON, England@@@@1@2@@oe@2-2-2013
20089004@unknown@formal@none@1@S@-- Of all scenes that evoke rural England, this is one of the loveliest: An ancient stone church stands amid the fields, the sound of bells cascading from its tower, calling the faithful to evensong.@@@@1@35@@oe@2-2-2013
20089005@unknown@formal@none@1@S@The parishioners of St. Michael and All Angels stop to chat at the church door, as members here always have.@@@@1@20@@oe@2-2-2013
20089006@unknown@formal@none@1@S@In the tower, five men and women pull rhythmically on ropes attached to the same five bells that first sounded here in 1614.@@@@1@23@@oe@2-2-2013
20089007@unknown@formal@none@1@S@But there is also a discordant, modern note in Aslacton, though it can't be heard by the church-goers enjoying the peal of bells this cool autumn evening.@@@@1@27@@oe@2-2-2013
20089008@unknown@formal@none@1@S@Like most of the other 6,000 churches in Britain with sets of bells, St. Michael once had its own "band" of ringers, who would herald every Sunday morning and evening service.@@@@1@31@@oe@2-2-2013
20089009@unknown@formal@none@1@S@Now, only one local ringer remains: 64-year-old Derek Hammond.@@@@1@9@@oe@2-2-2013
20089010@unknown@formal@none@1@S@The others here today live elsewhere.@@@@1@6@@oe@2-2-2013
20089011@unknown@formal@none@1@S@They belong to a group of 15 ringers -- including two octogenarians and four youngsters in training -- who drive every Sunday from church to church in a sometimes-exhausting effort to keep the bells sounding in the many belfries of East Anglia.@@@@1@42@@oe@2-2-2013
20089012@unknown@formal@none@1@S@"To ring for even one service at this tower, we have to scrape," says Mr. Hammond, a retired water-authority worker.@@@@1@20@@oe@2-2-2013
20089013@unknown@formal@none@1@S@"We've tried to train the youngsters, but they have their discos and their dances, and they just drift away."@@@@1@19@@oe@2-2-2013
20089014@unknown@formal@none@1@S@Mr. Hammond worries that old age and the flightiness of youth will diminish the ranks of the East Anglian group that keeps the Aslacton bells pealing.@@@@1@26@@oe@2-2-2013
20089015@unknown@formal@none@1@S@History, after all, is not on his side.@@@@1@8@@oe@2-2-2013
20089016@unknown@formal@none@1@S@According to a nationwide survey taken a year ago, nearly a third of England's church bells are no longer rung on Sundays because there is no one to ring them.@@@@1@30@@oe@2-2-2013
20089017@unknown@formal@none@1@S@It is easy to see why the ancient art is on the ropes.@@@@1@13@@oe@2-2-2013
20089018@unknown@formal@none@1@S@The less complicated version of playing tunes on bells, as do the carillons of continental Europe, is considered by the English to be childish, fit only for foreigners.@@@@1@28@@oe@2-2-2013
20089019@unknown@formal@none@1@S@Change-ringing, a mind-boggling exercise the English invented 380 years ago, requires physical dexterity -- some bells weigh more than a ton -- combined with intense mental concentration.@@@@1@27@@oe@2-2-2013
20089020@unknown@formal@none@1@S@Proper English bells are started off in "rounds," from the highest-pitched bell to the lowest -- a simple descending scale using, in larger churches, as many as 12 bells.@@@@1@29@@oe@2-2-2013
20089021@unknown@formal@none@1@S@Then, at a signal, the ringers begin varying the order in which the bells sound without altering the steady rhythm of the striking.@@@@1@23@@oe@2-2-2013
20089022@unknown@formal@none@1@S@Each variation, or change, can occur only once, the rules state.@@@@1@11@@oe@2-2-2013
20089023@unknown@formal@none@1@S@Ringers memorize patterns of changes, known as "methods," which have odd-sounding names like Kent Treble Bob Major or Grandsire Caters.@@@@1@20@@oe@2-2-2013
20089024@unknown@formal@none@1@S@A series of 5,000 or so changes is a "peal" and takes about three hours.@@@@1@15@@oe@2-2-2013
20089025@unknown@formal@none@1@S@A look at a Thursday night practice at St. Mary Abbot church in the Kensington district of London gives an idea of the work involved.@@@@1@25@@oe@2-2-2013
20089026@unknown@formal@none@1@S@Ten shirt-sleeved ringers stand in a circle, one foot ahead of the other in a prize-fighter's stance, each pulling a rope that disappears through a small hole in the high ceiling of the ringing chamber.@@@@1@35@@oe@2-2-2013
20089027@unknown@formal@none@1@S@No one speaks, and the snaking of the ropes seems to make as much sound as the bells themselves, muffled by the ceiling.@@@@1@23@@oe@2-2-2013
20089028@unknown@formal@none@1@S@Totally absorbed, the ringers stare straight ahead, using peripheral vision (they call it "rope-sight") to watch the other ropes and thus time their pulls.@@@@1@24@@oe@2-2-2013
20089029@unknown@formal@none@1@S@Far above in the belfry, the huge bronze bells, mounted on wheels, swing madly through a full 360 degrees, starting and ending, surprisingly, in the inverted, or mouth-up position.@@@@1@29@@oe@2-2-2013
20089030@unknown@formal@none@1@S@Skilled ringers use their wrists to advance or retard the next swing, so that one bell can swap places with another in the following change.@@@@1@25@@oe@2-2-2013
20089031@unknown@formal@none@1@S@In a well-known detective-story involving church bells, English novelist Dorothy L. Sayers described ringing as a "passion {that} finds its satisfaction in mathematical completeness and mechanical perfection."@@@@1@27@@oe@2-2-2013
20089032@unknown@formal@none@1@S@Ringers, she added, are "filled with the solemn intoxication that comes of intricate ritual faultlessly performed."@@@@1@16@@oe@2-2-2013
20089033@unknown@formal@none@1@S@"Ringing does become a bit of an obsession," admits Stephanie Pattenden, master of the band at St. Mary Abbot and one of England's best female ringers.@@@@1@26@@oe@2-2-2013
20089034@unknown@formal@none@1@S@It is a passion that usually stays in the tower, however.@@@@1@11@@oe@2-2-2013
20089035@unknown@formal@none@1@S@More often than not, ringers think of the church as something stuck on the bottom of the belfry.@@@@1@18@@oe@2-2-2013
20089036@unknown@formal@none@1@S@When their changes are completed, and after they have worked up a sweat, ringers often skip off to the local pub, leaving worship for others below.@@@@1@26@@oe@2-2-2013
20089037@unknown@formal@none@1@S@This does not sit well with some clerics.@@@@1@8@@oe@2-2-2013
20089038@unknown@formal@none@1@S@With membership of the Church of England steadily dwindling, strong-willed vicars are pressing equally strong-willed and often non-religious ringers to attend services.@@@@1@22@@oe@2-2-2013
20089039@unknown@formal@none@1@S@Two years ago, the Rev. Jeremy Hummerstone, vicar of Great Torrington, Devon, got so fed up with ringers who didn't attend service he sacked the entire band; the ringers promptly set up a picket line in protest.@@@@1@37@@oe@2-2-2013
20089040@unknown@formal@none@1@S@"They were a self-perpetuating club that treated the tower as sort of a separate premises," the Vicar Hummerstone says.@@@@1@19@@oe@2-2-2013
20089041@unknown@formal@none@1@S@An entirely new band rings today at Great Torrington, several of whom are members of the congregation.@@@@1@17@@oe@2-2-2013
20089042@unknown@formal@none@1@S@But there still aren't enough ringers to ring more than six of the eight bells.@@@@1@15@@oe@2-2-2013
20089043@unknown@formal@none@1@S@At St. Mary's Church in Ilminster, Somerset, the bells have fallen silent following a dust-up over church attendance.@@@@1@18@@oe@2-2-2013
20089044@unknown@formal@none@1@S@The vicar, W.D. Jones, refuses to talk about it, saying it would "reopen the wound."@@@@1@15@@oe@2-2-2013
20089045@unknown@formal@none@1@S@But C.J.B. Marshall, vicar of a nearby church, feels the fault is in the stairs from the bell tower that are located next to the altar.@@@@1@26@@oe@2-2-2013
20089046@unknown@formal@none@1@S@"So crunch, crunch, crunch, bang, bang, bang -- here come the ringers from above, making a very obvious exit while the congregation is at prayer," he says.@@@@1@27@@oe@2-2-2013
20089047@unknown@formal@none@1@S@Vicar Marshall admits to mixed feelings about this issue, since he is both a vicar and an active bell-ringer himself.@@@@1@20@@oe@2-2-2013
20089048@unknown@formal@none@1@S@"The sound of bells is a net to draw people into the church," he says.@@@@1@15@@oe@2-2-2013
20089049@unknown@formal@none@1@S@"I live in hopes that the ringers themselves will be drawn into that fuller life."@@@@1@15@@oe@2-2-2013
20089050@unknown@formal@none@1@S@The Central Council of Church Bell Ringers, a sort of parliament of ringing groups, aims to improve relations with vicars, says John C. Baldwin, president.@@@@1@25@@oe@2-2-2013
20089051@unknown@formal@none@1@S@It hopes to speak to students at theological colleges about the joys of bell ringing and will shortly publish a booklet for every vicar in the country entitled, "The Bells in Your Care."@@@@1@33@@oe@2-2-2013
20089052@unknown@formal@none@1@S@Says Mr. Baldwin, "We recognize that we may no longer have as high a priority in church life and experience."@@@@1@20@@oe@2-2-2013
20089053@unknown@formal@none@1@S@Mr. Baldwin is also attacking the greater problem: lack of ringers.@@@@1@11@@oe@2-2-2013
20089054@unknown@formal@none@1@S@One survey says that of the 100,000 trained bellringers in England today, only 40,000 of them still ring.@@@@1@18@@oe@2-2-2013
20089055@unknown@formal@none@1@S@Also, ringers don't always live where the bells need to be rung -- like in small, rural parishes and inner-city churches.@@@@1@21@@oe@2-2-2013
20089056@unknown@formal@none@1@S@But the council's program to attract and train ringers is only partly successful, says Mr. Baldwin.@@@@1@16@@oe@2-2-2013
20089057@unknown@formal@none@1@S@"Right now, we're lucky if after five years we keep one new ringer out of 10," he adds.@@@@1@18@@oe@2-2-2013
20089058@unknown@formal@none@1@S@One bright sign is that a growing number of women have entered the once male-dominated field; more than a third of the ringers today are women.@@@@1@26@@oe@2-2-2013
20089059@unknown@formal@none@1@S@They aren't accepted everywhere, however.@@@@1@5@@oe@2-2-2013
20089060@unknown@formal@none@1@S@The oldest bell-ringing group in the country, the Ancient Society of College Youths, founded in 1637, remains male-only, a fact that's particularly galling to women because the group is the sole source of ringers for Britain's most prestigious churches, St. Paul's Cathedral and Westminster Abbey.@@@@1@45@@oe@2-2-2013
20089061@unknown@formal@none@1@S@This being Britain, no woman has filed an equal-opportunity suit, but the extent of the problem surfaced this summer in a series of letters to "The Ringing World," a weekly newspaper for ringers.@@@@1@33@@oe@2-2-2013
20089062@unknown@formal@none@1@S@One writer, signing his letter as "Red-blooded, balanced male," remarked on the "frequency of women fainting in peals," and suggested that they "settle back into their traditional role of making tea at meetings."@@@@1@33@@oe@2-2-2013
20089063@unknown@formal@none@1@S@In the torrent of replies that followed, one woman ringer from Solihull observed that "the average male ringer leaves quite a lot to be desired: badly dressed, decorated with acne and a large beer-belly, frequently unwashed and unbearably flatulent in peals."@@@@1@41@@oe@2-2-2013
20089064@unknown@formal@none@1@S@Another women wrote from Sheffield to say that in her 60 years of ringing, "I have never known a lady to faint in the belfry.@@@@1@25@@oe@2-2-2013
20089065@unknown@formal@none@1@S@I have seen one or two men die, bless them.@@@@1@10@@oe@2-2-2013
20090001@unknown@formal@none@1@S@Investors unsettled by the stock market's gyrations can take some comfort in the predictable arrival of quarterly dividend checks.@@@@1@19@@oe@2-2-2013
20090002@unknown@formal@none@1@S@That has been particularly true this year with many companies raising their payouts more than 10%.@@@@1@16@@oe@2-2-2013
20090003@unknown@formal@none@1@S@But don't breathe too easy: Those dividend increases may signal trouble ahead for stock prices, some analysts warn.@@@@1@18@@oe@2-2-2013
20090004@unknown@formal@none@1@S@In the past, they say, the strongest dividend growth has often come at times when the stock-market party was almost over.@@@@1@21@@oe@2-2-2013
20090005@unknown@formal@none@1@S@That can be a trap for unwary investors, says Richard Bernstein, senior quantitative analyst at Merrill Lynch & Co.@@@@1@19@@oe@2-2-2013
20090006@unknown@formal@none@1@S@Strong dividend growth, he says, is "the black widow of valuation" -- a reference to the female spiders that attract males and then kill them after mating.@@@@1@27@@oe@2-2-2013
20090007@unknown@formal@none@1@S@Stephen Boesel, president of T. Rowe Price Growth and Income Fund, explains that companies raise their payouts most robustly only after the economy and corporate profits have been growing for some time.@@@@1@32@@oe@2-2-2013
20090008@unknown@formal@none@1@S@"Invariably, those strong periods in the economy give way to recessionary environments," he says.@@@@1@14@@oe@2-2-2013
20090009@unknown@formal@none@1@S@"And recessionary environments aren't hospitable to the stock market."@@@@1@9@@oe@2-2-2013
20090010@unknown@formal@none@1@S@Indeed, analysts say that payouts have sometimes risen most sharply when prices were already on their way down from cyclical peaks.@@@@1@21@@oe@2-2-2013
20090011@unknown@formal@none@1@S@In 1976, for example, dividends on the stocks in Standard & Poor's 500-stock index soared 10%, following much slower growth the year before.@@@@1@23@@oe@2-2-2013
20090012@unknown@formal@none@1@S@The S&P index started sliding in price in September 1976, and fell 12% in 1977 -- despite a 15% expansion in dividends that year.@@@@1@24@@oe@2-2-2013
20090013@unknown@formal@none@1@S@That pattern hasn't always held, but recent strong growth in dividends makes some market watchers anxious.@@@@1@16@@oe@2-2-2013
20090014@unknown@formal@none@1@S@Payouts on the S&P 500 stocks rose 10% in 1988, according to Standard & Poor's Corp., and Wall Street estimates for 1989 growth are generally between 9% and 14%.@@@@1@29@@oe@2-2-2013
20090015@unknown@formal@none@1@S@Many people believe the growth in dividends will slow next year, although a minority see double-digit gains continuing.@@@@1@18@@oe@2-2-2013
20090016@unknown@formal@none@1@S@Meanwhile, many market watchers say recent dividend trends raise another warning flag: While dividends have risen smartly, their expansion hasn't kept pace with even stronger advances in stock prices.@@@@1@29@@oe@2-2-2013
20090017@unknown@formal@none@1@S@As a result, the market's dividend yield -- dividends as a percentage of price -- has slid to a level that is fairly low and unenticing by historical standards.@@@@1@29@@oe@2-2-2013
20090018@unknown@formal@none@1@S@Put another way, the decline in the yield suggests stocks have gotten pretty rich in price relative to the dividends they pay, some market analysts say.@@@@1@26@@oe@2-2-2013
20090019@unknown@formal@none@1@S@They are keeping a close watch on the yield on the S&P 500.@@@@1@13@@oe@2-2-2013
20090020@unknown@formal@none@1@S@The figure is currently about 3.3%, up from 3.2% before the recent market slide.@@@@1@14@@oe@2-2-2013
20090021@unknown@formal@none@1@S@Some analysts say investors should run for the exits if a sustained market rebound pushes the yield below 3%.@@@@1@19@@oe@2-2-2013
20090022@unknown@formal@none@1@S@A drop below that 3% benchmark "has always been a strong warning sign that stocks are fully valued," says Mr. Boesel of T. Rowe Price.@@@@1@25@@oe@2-2-2013
20090023@unknown@formal@none@1@S@In fact, "the market has always tanked.@@@@1@7@@oe@2-2-2013
20090024@unknown@formal@none@1@S@Always.@@@@1@1@@oe@2-2-2013
20090025@unknown@formal@none@1@S@There's never been an exception," says Gerald W. Perritt, a Chicago investment adviser and money manager, based on a review of six decades of stock-market data.@@@@1@26@@oe@2-2-2013
20090026@unknown@formal@none@1@S@The last time the S&P 500 yield dropped below 3% was in the summer of 1987.@@@@1@16@@oe@2-2-2013
20090027@unknown@formal@none@1@S@Stockholders who took the hint and sold shares escaped the October debacle.@@@@1@12@@oe@2-2-2013
20090028@unknown@formal@none@1@S@There have been only seven other times -- in 1929, 1933, 1961, 1965, 1968, 1971 and 1972 -- when the yield on the S&P 500 dropped below 3% for at least two consecutive months, Mr. Perritt found.@@@@1@37@@oe@2-2-2013
20090029@unknown@formal@none@1@S@And in each case, he says, a sharp drop in stock prices began within a year.@@@@1@16@@oe@2-2-2013
20090030@unknown@formal@none@1@S@Still, some market analysts say the current 3.3% reading isn't as troublesome as it might have been in years past.@@@@1@20@@oe@2-2-2013
20090031@unknown@formal@none@1@S@"It's not a very meaningful indicator currently because corporations are not behaving in a traditional manner," says James H. Coxon, head of stock investments for Cigna Corp., the Philadelphia-based insurer.@@@@1@30@@oe@2-2-2013
20090032@unknown@formal@none@1@S@In particular, Mr. Coxon says, businesses are paying out a smaller percentage of their profits and cash flow in the form of dividends than they have historically.@@@@1@27@@oe@2-2-2013
20090033@unknown@formal@none@1@S@So, while stock prices may look fairly high relative to dividends, they are not excessive relative to the underlying corporate strength.@@@@1@21@@oe@2-2-2013
20090034@unknown@formal@none@1@S@Rather than increasing dividends, some companies have used cash to buy back some of their shares, notes Steven G. Einhorn, co-chairman of the investment policy committee at Goldman, Sachs & Co.@@@@1@31@@oe@2-2-2013
20090035@unknown@formal@none@1@S@He factors that into the market yield to get an adjusted yield of about 3.6%.@@@@1@15@@oe@2-2-2013
20090036@unknown@formal@none@1@S@That is just a tad below the average of the past 40 years or so, he says.@@@@1@17@@oe@2-2-2013
20090037@unknown@formal@none@1@S@What will happen to dividend growth next year?@@@@1@8@@oe@2-2-2013
20090038@unknown@formal@none@1@S@Common wisdom suggests a single-digit rate of growth, reflecting a weakening in the economy and corporate profits.@@@@1@17@@oe@2-2-2013
20090039@unknown@formal@none@1@S@PaineWebber Inc., for instance, is forecasting growth in S&P 500 dividends of just under 5% in 1990, down from an estimated 11% this year.@@@@1@24@@oe@2-2-2013
20090040@unknown@formal@none@1@S@In other years in which there have been moderate economic slowdowns -- the environment the firm expects in 1990 -- the change in dividends ranged from a gain of 4% to a decline of 1% , according to PaineWebber analyst Thomas Doerflinger.@@@@1@42@@oe@2-2-2013
20090041@unknown@formal@none@1@S@The minority argument, meanwhile, is that businesses have the financial wherewithal this time around to declare sharply higher dividends even if their earnings weaken.@@@@1@24@@oe@2-2-2013
20090042@unknown@formal@none@1@S@Dividend growth on the order of 12% is expected by both Mr. Coxon of Cigna and Mr. Einhorn of Goldman Sachs.@@@@1@21@@oe@2-2-2013
20090043@unknown@formal@none@1@S@Those dividend bulls argue that corporations are in the unusual position of having plenty of cash left over after paying dividends and making capital expenditures.@@@@1@25@@oe@2-2-2013
20090044@unknown@formal@none@1@S@One indicator investors might want to watch is the monthly tally from Standard & Poor's of the number of public companies adjusting their dividends.@@@@1@24@@oe@2-2-2013
20090045@unknown@formal@none@1@S@A total of 139 companies raised dividends in October, basically unchanged from 138 a year ago, S&P said Wednesday.@@@@1@19@@oe@2-2-2013
20090046@unknown@formal@none@1@S@That followed four straight months in which the number of increases trailed the year-earlier pace.@@@@1@15@@oe@2-2-2013
20090047@unknown@formal@none@1@S@While the S&P tally doesn't measure the magnitude of dividend changes, a further slippage in the number of dividend increases could be a harbinger of slower dividend growth next year.@@@@1@30@@oe@2-2-2013
20090048@unknown@formal@none@1@S@In any case, opinion is mixed on how much of a boost the overall stock market would get even if dividend growth continues at double-digit levels.@@@@1@26@@oe@2-2-2013
20090049@unknown@formal@none@1@S@Mr. Einhorn of Goldman Sachs estimates the stock market will deliver a 12% to 15% total return from appreciation and dividends over the next 12 months -- vs. a "cash rate of return" of perhaps 7% or 8% if dividend growth is weak.@@@@1@43@@oe@2-2-2013
20090050@unknown@formal@none@1@S@But Mr. Boesel of T. Rowe Price, who also expects 12% growth in dividends next year, doesn't think it will help the overall market all that much.@@@@1@27@@oe@2-2-2013
20090051@unknown@formal@none@1@S@"Having the dividend increases is a supportive element in the market outlook, but I don't think it's a main consideration," he says.@@@@1@22@@oe@2-2-2013
20090052@unknown@formal@none@1@S@With slower economic growth and flat corporate earnings likely next year, "I wouldn't look for the market to have much upside from current levels.@@@@1@24@@oe@2-2-2013
20091001@unknown@formal@none@1@S@Your Oct. 13 page-one story on the renewed plight of Western Union says that Western Union had lost its chance to be in the telephone business by turning down Alexander Graham Bell's offer to it of his invention, because it supposedly felt that voice communication would never replace the telegraph.@@@@1@50@@oe@2-2-2013
20091002@unknown@formal@none@1@S@Such is hardly the case.@@@@1@5@@oe@2-2-2013
20091003@unknown@formal@none@1@S@Bell's father-in-law, Gardner G. Hubbard, wealthy and well-connected, obtained financing to start the American Bell Telephone Co. in Boston, which even had a subsidiary in New York called the Telephone Co. of New York.@@@@1@34@@oe@2-2-2013
20091004@unknown@formal@none@1@S@This is where Bell's patents went.@@@@1@6@@oe@2-2-2013
20091005@unknown@formal@none@1@S@Western Union indeed wanted to get into the telephone business.@@@@1@10@@oe@2-2-2013
20091006@unknown@formal@none@1@S@It acquired Thomas Edison's microphone patent and then immediately sued the Bell Co. claiming that the microphone invented by my grandfather, Emile Berliner, which had been sold to Bell for a princely $50,000, infringed upon Western Union's Edison patent.@@@@1@39@@oe@2-2-2013
20091007@unknown@formal@none@1@S@When Bell established that the Berliner patent caveat was registered 10 days before Edison's application, Western Union dropped the lawsuit and agreed never to enter the telephone business -- the basis for the company's current plight.@@@@1@36@@oe@2-2-2013
20091008@unknown@formal@none@1@S@Oliver Berliner Beverly Hills, Calif.@@@@1@5@@oe@2-2-2013
20092001@unknown@formal@none@1@S@Troubled NBI Inc. said it fired more than half its work force and is discontinuing its hardware business to focus on its software and service operations.@@@@1@26@@oe@2-2-2013
20092002@unknown@formal@none@1@S@The ailing company, which has reported net losses for 16 consecutive quarters, said it won't manufacture network computer systems any more and will greatly reduce its costly direct sales force.@@@@1@30@@oe@2-2-2013
20092003@unknown@formal@none@1@S@Altogether, NBI said it will eliminate 266 jobs at its Boulder headquarters, 176 field sales jobs and 50 jobs at its Canadian and United Kingdom headquarters.@@@@1@26@@oe@2-2-2013
20092004@unknown@formal@none@1@S@The company's work force will fall to about 400 people.@@@@1@10@@oe@2-2-2013
20092005@unknown@formal@none@1@S@Stephen G. Jerritts, president and chief executive officer, said customers weren't willing to commit to an expensive NBI hardware systems because of the company's financial troubles.@@@@1@26@@oe@2-2-2013
20092006@unknown@formal@none@1@S@Further, he said, the company doesn't have the capital needed to build the business over the next year or two.@@@@1@20@@oe@2-2-2013
20092007@unknown@formal@none@1@S@"We flat ran out of financing resources," Mr. Jerritts said.@@@@1@10@@oe@2-2-2013
20092008@unknown@formal@none@1@S@"We had to do something structurally and radically different."@@@@1@9@@oe@2-2-2013
20092009@unknown@formal@none@1@S@As a result, he said NBI will focus on servicing its installed base of systems, trying to provide maintenance for other manufacturers and expanding its software business, using some of the applications it developed for its hardware.@@@@1@37@@oe@2-2-2013
20092010@unknown@formal@none@1@S@The company currently offers a word-processing package for personal computers called Legend.@@@@1@12@@oe@2-2-2013
20092011@unknown@formal@none@1@S@The company, which recently said it lacked the profits and capital to pay dividends on its Series A convertible preferred stock, said it has hired an investment banker to help it raise additional cash.@@@@1@34@@oe@2-2-2013
20092012@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, NBI common closed at 93 cents a share, up 31 cents.@@@@1@19@@oe@2-2-2013
20093001@unknown@formal@none@1@S@It was Richard Nixon's first visit to China in 1972 that set in motion the historic rapprochement between Beijing and Washington.@@@@1@21@@oe@2-2-2013
20093002@unknown@formal@none@1@S@But the former U.S. president's sixth visit to China, during which he spoke at length with Chinese leaders, was nowhere near as successful at easing strains that have recently afflicted the Sino-U.S. relationship.@@@@1@33@@oe@2-2-2013
20093003@unknown@formal@none@1@S@Mr. Nixon, the most prominent American to come to China since Beijing's bloody suppression of pro-democracy demonstrators in June, harped on international outrage over the massacre.@@@@1@26@@oe@2-2-2013
20093004@unknown@formal@none@1@S@The Chinese, in turn, took aim at American "interference" in China's domestic affairs.@@@@1@13@@oe@2-2-2013
20093005@unknown@formal@none@1@S@One official newspaper, Legal Daily, even directly criticized Mr. Nixon, who is normally referred to here as an "old friend."@@@@1@20@@oe@2-2-2013
20093006@unknown@formal@none@1@S@The paper accused him of being a leading proponent of "peaceful evolution," a catch phrase to describe what China believes is the policy of Western countries to seduce socialist nations into the capitalist sphere.@@@@1@34@@oe@2-2-2013
20093007@unknown@formal@none@1@S@The tension was evident on Wednesday evening during Mr. Nixon's final banquet toast, normally an opportunity for reciting platitudes about eternal friendship.@@@@1@22@@oe@2-2-2013
20093008@unknown@formal@none@1@S@Instead, Mr. Nixon reminded his host, Chinese President Yang Shangkun, that Americans haven't forgiven China's leaders for the military assault of June 3-4 that killed hundreds, and perhaps thousands, of demonstrators.@@@@1@31@@oe@2-2-2013
20093009@unknown@formal@none@1@S@"Many in the United States, including many friends of China, believe the crackdown was excessive and unjustified," Mr. Nixon told Mr. Yang, who was directly involved in ordering the attack.@@@@1@30@@oe@2-2-2013
20093010@unknown@formal@none@1@S@"The events of April through June damaged the respect and confidence which most Americans previously had for the leaders of China."@@@@1@21@@oe@2-2-2013
20093011@unknown@formal@none@1@S@The Chinese responded in an equally undiplomatic fashion.@@@@1@8@@oe@2-2-2013
20093012@unknown@formal@none@1@S@In talks with Mr. Nixon, Chinese leaders expressed no regret for the killings, and even suggested that the U.S. was prominently involved in the demonstrations this spring.@@@@1@27@@oe@2-2-2013
20093013@unknown@formal@none@1@S@In a meeting Tuesday, supreme leader, Deng Xiaoping, told Mr. Nixon, "Frankly speaking, the U.S. was involved too deeply in the turmoil and counterrevolutionary rebellion which occurred in Beijing not long ago.@@@@1@32@@oe@2-2-2013
20093014@unknown@formal@none@1@S@China was the real victim and it is unjust to reprove China for it."@@@@1@14@@oe@2-2-2013
20093015@unknown@formal@none@1@S@Despite the harsh exchanges, the U.S. and China still seem to be looking for a way to mend relations, which have deteriorated into what Mr. Nixon referred to as "the greatest crisis in Chinese-American relations" since his initial visit to China 17 years ago.@@@@1@44@@oe@2-2-2013
20093016@unknown@formal@none@1@S@In his return toast to Mr. Nixon, Mr. Yang said the relationship had reached a "stalemate."@@@@1@16@@oe@2-2-2013
20093017@unknown@formal@none@1@S@Relations between China and the U.S. have been tense since June 7, when Chinese dissident Fang Lizhi and his wife, Li Shuxian, took refuge in the U.S. Embassy in Beijing.@@@@1@30@@oe@2-2-2013
20093018@unknown@formal@none@1@S@Shortly afterwards, Mr. Bush imposed a series of anti-China sanctions, including suspension of most high-level talks, which could be codified in U.S. congressional legislation in the coming weeks.@@@@1@28@@oe@2-2-2013
20093019@unknown@formal@none@1@S@Mr. Nixon is traveling in China as a private citizen, but he has made clear that he is an unofficial envoy for the Bush administration.@@@@1@25@@oe@2-2-2013
20093020@unknown@formal@none@1@S@Mr. Nixon met Mr. Bush and his national security adviser, Brent Scowcroft, before coming to China on Saturday.@@@@1@18@@oe@2-2-2013
20093021@unknown@formal@none@1@S@And he plans to brief the president at the end of the week, U.S. sources said.@@@@1@16@@oe@2-2-2013
20093022@unknown@formal@none@1@S@Mr. Nixon was to leave China today.@@@@1@7@@oe@2-2-2013
20093023@unknown@formal@none@1@S@According to an American member of the Nixon party, the former president raised a number of controversial issues in his 20 hours of talks with top-level Chinese officials.@@@@1@28@@oe@2-2-2013
20093024@unknown@formal@none@1@S@These included China's economic policies, human rights and the question of Mr. Fang.@@@@1@13@@oe@2-2-2013
20093025@unknown@formal@none@1@S@Mr. Nixon also proposed that China restore its participation in the Fulbright Program, a U.S. government-funded academic exchange.@@@@1@18@@oe@2-2-2013
20093026@unknown@formal@none@1@S@China pulled out of the program in July.@@@@1@8@@oe@2-2-2013
20093027@unknown@formal@none@1@S@In his talks, the former president urged China's leaders to acknowledge that their nation is part of the world community and welcome the infusion of outside contacts and ideas.@@@@1@29@@oe@2-2-2013
20093028@unknown@formal@none@1@S@"Ideas are going over borders, and there's no SDI ideological weapon that can shoot them down," he told a group of Americans at the U.S. Embassy on Wednesday.@@@@1@28@@oe@2-2-2013
20093029@unknown@formal@none@1@S@There are no signs, however, of China's yielding on key issues.@@@@1@11@@oe@2-2-2013
20093030@unknown@formal@none@1@S@But in one minor matter, Mr. Nixon appears to have gained a concession.@@@@1@13@@oe@2-2-2013
20093031@unknown@formal@none@1@S@In a meeting with Premier Li Peng on Monday, Mr. Nixon said that he hoped he wouldn't encounter guards with machine guns during his visit to the U.S. Embassy.@@@@1@29@@oe@2-2-2013
20093032@unknown@formal@none@1@S@Sure enough, when he arrived at the embassy two days later, the machine-gun-toting guards were gone -- for the first time in five months.@@@@1@24@@oe@2-2-2013
20093033@unknown@formal@none@1@S@A few blocks away, at the U.S. ambassador's residence, the guards encircling the compound also had discarded their Uzi-model arms for the first time since early June.@@@@1@27@@oe@2-2-2013
20093034@unknown@formal@none@1@S@But the guards there retained their pistols, and a large contingent of plainclothes police remained nearby in unmarked cars.@@@@1@19@@oe@2-2-2013
20093035@unknown@formal@none@1@S@Moreover, police and soldiers continue to harass Americans, who have filed several protests with the Foreign Ministry in the past week.@@@@1@21@@oe@2-2-2013
20093036@unknown@formal@none@1@S@Several times, Chinese guards have pointed their automatic rifles at young children of U.S. diplomats and clicked the trigger.@@@@1@19@@oe@2-2-2013
20093037@unknown@formal@none@1@S@The rifles weren't loaded.@@@@1@4@@oe@2-2-2013
20094001@unknown@formal@none@1@S@Your Oct. 6 article "Japan's Financial Firms Lure Science Graduates" states, "Industrial companies are accusing financial institutions of jeopardizing Japan's economy by raising the salary stakes for new employees."@@@@1@29@@oe@2-2-2013
20094002@unknown@formal@none@1@S@The Japanese industrial companies should know better.@@@@1@7@@oe@2-2-2013
20094003@unknown@formal@none@1@S@They are barking up the wrong tree, because it is basically their fault they can't attract new employees.@@@@1@18@@oe@2-2-2013
20094004@unknown@formal@none@1@S@Takuma Yamamoto, president of Fujitsu Ltd., believes "the `money worship' among young people . . . caused the problem."@@@@1@19@@oe@2-2-2013
20094005@unknown@formal@none@1@S@He is just passing the buck to young people.@@@@1@9@@oe@2-2-2013
20094006@unknown@formal@none@1@S@What's wrong with asking for more money?@@@@1@7@@oe@2-2-2013
20094007@unknown@formal@none@1@S@Money is not everything, but it is necessary, and business is not volunteer work.@@@@1@14@@oe@2-2-2013
20094008@unknown@formal@none@1@S@It is not unethical to choose a higher-salaried job.@@@@1@9@@oe@2-2-2013
20094009@unknown@formal@none@1@S@Unfortunately, Japanese manufacturers have neither good working conditions nor good compensation packages.@@@@1@12@@oe@2-2-2013
20094010@unknown@formal@none@1@S@I get the impression that some Japanese managers believe working harder for less money is beautiful.@@@@1@16@@oe@2-2-2013
20094011@unknown@formal@none@1@S@I visited a lot of major Japanese manufacturers, but I never felt I would want to be employed by any of them.@@@@1@22@@oe@2-2-2013
20094012@unknown@formal@none@1@S@Many of them recently have been spending a lot of money on public relations and advertising to improve their images, but they should realize that the most important thing is real change, not changing people's perceptions.@@@@1@36@@oe@2-2-2013
20094013@unknown@formal@none@1@S@If the Japanese companies are seriously considering their survival, they could do at least three things to improve the situation: raise salaries higher than those of financial institutions; improve working conditions (better offices and more vacations, for example); accept and hire more labor from outside Japan.@@@@1@46@@oe@2-2-2013
20094014@unknown@formal@none@1@S@Hiroshi Asada@@@@1@2@@oe@2-2-2013
20095001@unknown@formal@none@1@S@In reference to your Oct. 9 page-one article "Barbara Bush Earns Even Higher Ratings Than the President," it is regrettable that you must continually define blacks by our negatives: "Among liberals, 60% have positive views of her, while 50% approve of the president's job performance.@@@@1@45@@oe@2-2-2013
20095002@unknown@formal@none@1@S@In part, this may reflect the fact that `she speaks a more progressive language' than her husband, as Columbia's Prof. {Ethel} Klein puts it.@@@@1@24@@oe@2-2-2013
20095003@unknown@formal@none@1@S@Among professionals, 76% have a favorable opinion of her, compared to 62% who approve of her husband's performance.@@@@1@18@@oe@2-2-2013
20095004@unknown@formal@none@1@S@While a quarter of black voters disapprove of Mr. Bush's handling of his job, only 15% have a negative view of his spouse."@@@@1@23@@oe@2-2-2013
20095005@unknown@formal@none@1@S@The statistics imply that three-quarters of blacks approve of Mr. Bush's job performance and 85% of blacks approve of Mrs. Bush.@@@@1@21@@oe@2-2-2013
20095006@unknown@formal@none@1@S@If the assumption is that it is surprising that so few blacks find Mr. and Mrs. Bush distasteful, the positive view is even more newsworthy.@@@@1@25@@oe@2-2-2013
20095007@unknown@formal@none@1@S@Such an editorial point of view perpetuates an insidious, stereotyped perspective.@@@@1@11@@oe@2-2-2013
20095008@unknown@formal@none@1@S@Why are we blacks continually defined by our minority and the lowest common denominator.@@@@1@14@@oe@2-2-2013
20095009@unknown@formal@none@1@S@Preston G. Foster Birmingham, Ala.@@@@1@5@@oe@2-2-2013
20096001@unknown@formal@none@1@S@The National Association of Securities Dealers, the self-regulatory organization for the over-the-counter securities markets, disciplined a number of firms and individuals for alleged violations of industry rules.@@@@1@27@@oe@2-2-2013
20096002@unknown@formal@none@1@S@Two firms were expelled from the NASD, three were suspended or barred and nine were fined.@@@@1@16@@oe@2-2-2013
20096003@unknown@formal@none@1@S@First Securities Group of California and a principal of the firm, Louis Fernando Vargas of Marina del Rey, Calif., were jointly fined $15,000 and expelled for alleged violations of reporting requirements on securities sales.@@@@1@34@@oe@2-2-2013
20096004@unknown@formal@none@1@S@Also, Mr. Vargas was barred from association with any NASD member.@@@@1@11@@oe@2-2-2013
20096005@unknown@formal@none@1@S@Neither First Securities, of Beverly Hills, nor Mr. Vargas could be reached for comment.@@@@1@14@@oe@2-2-2013
20096006@unknown@formal@none@1@S@A telephone-information operator had no listing for either party.@@@@1@9@@oe@2-2-2013
20096007@unknown@formal@none@1@S@J.L. Henry & Co., Miami, and a principal of the firm, Henry I. Otero of Miami, were jointly fined $30,000 and expelled, for alleged improper use of a customer's funds, among other things.@@@@1@33@@oe@2-2-2013
20096008@unknown@formal@none@1@S@Also, Mr. Otero was barred from association with any NASD member.@@@@1@11@@oe@2-2-2013
20096009@unknown@formal@none@1@S@J.L. Henry hasn't any Miami telephone listing, an operator said.@@@@1@10@@oe@2-2-2013
20096010@unknown@formal@none@1@S@Mr. Otero, who apparently has an unpublished number, also couldn't be reached.@@@@1@12@@oe@2-2-2013
20096011@unknown@formal@none@1@S@Biscayne Securities Corp., of Lauderhill, Fla., and a principal of the firm, Alvin Rosenblum of Plantation, Fla., were jointly fined $20,000 and given 10-day suspensions for allegedly selling securities at unfair prices.@@@@1@32@@oe@2-2-2013
20096012@unknown@formal@none@1@S@Biscayne hasn't any telephone listing, an operator said.@@@@1@8@@oe@2-2-2013
20096013@unknown@formal@none@1@S@Mr. Rosenblum, who apparently has an unpublished phone number, also couldn't be reached.@@@@1@13@@oe@2-2-2013
20096014@unknown@formal@none@1@S@Triton Securities, of Danville, Calif., and a principal of the firm, Delwin George Chase, also of Danville, were jointly fined $10,000 and given 30-day suspensions as part of a settlement.@@@@1@30@@oe@2-2-2013
20096015@unknown@formal@none@1@S@While neither admitting nor denying wrongdoing, Triton and Mr. Chase consented to findings of violations in connection with limited-partnership sales.@@@@1@20@@oe@2-2-2013
20096016@unknown@formal@none@1@S@Officials of Triton couldn't be reached for comment.@@@@1@8@@oe@2-2-2013
20096017@unknown@formal@none@1@S@Mr. Chase didn't return a telephone call to his office.@@@@1@10@@oe@2-2-2013
20096018@unknown@formal@none@1@S@Crane & Co. Securities Inc., of Mount Clemens, Mich., and its president, Glenn R. Crane, of Sterling Heights, Mich., consented to a joint fine of $10,000.@@@@1@26@@oe@2-2-2013
20096019@unknown@formal@none@1@S@Without admitting or denying wrongdoing, they consented to findings of violations of escrow and record-keeping rules.@@@@1@16@@oe@2-2-2013
20096020@unknown@formal@none@1@S@Mr. Crane didn't return a call seeking comment.@@@@1@8@@oe@2-2-2013
20096021@unknown@formal@none@1@S@First Commonwealth Securities Corp., of New Orleans, and its president, Kenneth J. Canepa, also of New Orleans, consented to a $10,000 fine.@@@@1@22@@oe@2-2-2013
20096022@unknown@formal@none@1@S@Also, Mr. Canepa received a two-week suspension "in a principal capacity."@@@@1@11@@oe@2-2-2013
20096023@unknown@formal@none@1@S@Without admitting or denying wrongdoing, they consented to findings that they had inaccurately represented the firm's net capital, maintained inaccurate books and records, and made other violations.@@@@1@27@@oe@2-2-2013
20096024@unknown@formal@none@1@S@Mr. Canepa confirmed he had consented to the sanctions but declined to comment further.@@@@1@14@@oe@2-2-2013
20096025@unknown@formal@none@1@S@Weatherly Securities Corp., New York, and three of its principals -- Dell Eugene Keehn and William Northy Prater Jr., both of Mercer Island, Wash., and Thomas Albert McFall, of Red Bank, N.J. -- consented to a fine of $20,000.@@@@1@39@@oe@2-2-2013
20096026@unknown@formal@none@1@S@Without admitting or denying wrongdoing, they consented to findings that they failed to return funds owed to customers in connection with a limited-partnership offering.@@@@1@24@@oe@2-2-2013
20096027@unknown@formal@none@1@S@Reached at his office, Mr. McFall, currently chairman, said, "An implication that we failed to return investor funds is inappropriate and inaccurate."@@@@1@22@@oe@2-2-2013
20096028@unknown@formal@none@1@S@He described the situation as "an escrow problem, a timing issue," which he said was rapidly rectified, with no losses to customers.@@@@1@22@@oe@2-2-2013
20096029@unknown@formal@none@1@S@W.N. Whelen & Co., of Georgetown, Del., and its president, William N. Whelen Jr., also of Georgetown, were barred from transacting principal trades for 90 days and were jointly fined $15,000.@@@@1@31@@oe@2-2-2013
20096030@unknown@formal@none@1@S@The firm and Mr. Whelen allegedly sold securities to the public at unfair prices, among other alleged violations.@@@@1@18@@oe@2-2-2013
20096031@unknown@formal@none@1@S@Mr. Whelen denied the firm had sold securities at unfair prices and suggested that the examination practices of the NASD need improvement.@@@@1@22@@oe@2-2-2013
20096032@unknown@formal@none@1@S@The firm and the NASD differ over the meaning of markup and markdown, he added.@@@@1@15@@oe@2-2-2013
20096033@unknown@formal@none@1@S@Shearson Lehman Hutton Inc., New York, which is 62%-owned by American Express Co., consented to a $10,000 fine.@@@@1@18@@oe@2-2-2013
20096034@unknown@formal@none@1@S@Without admitting or denying wrongdoing, the firm consented to findings that it failed to respond "in a timely manner" to the NASD's requests for information in connection with a customer complaint.@@@@1@31@@oe@2-2-2013
20096035@unknown@formal@none@1@S@A Shearson spokesman had no comment.@@@@1@6@@oe@2-2-2013
20096036@unknown@formal@none@1@S@The following individuals were fined as indicated and barred from association with NASD members, or, where noted, suspended.@@@@1@18@@oe@2-2-2013
20096037@unknown@formal@none@1@S@Except where noted, none of these people could be reached for comment or had any comment.@@@@1@16@@oe@2-2-2013
20096038@unknown@formal@none@1@S@Andrew Derel Adams, Killeen, Texas, fined $15,000; John Francis Angier Jr., Reddington Shores, Fla., $15,000; Mark Anthony, Arlington Heights, Ill., $10,000 and 30-day suspension; William Stirlen, Arlington Heights, Ill., $7,500 and 30-day suspension; Fred W. Bonnell, Boulder, Colo., $2,500 and six-month suspension; Michael J. Boorse, Horsham, Pa.; David Chiodo, Dallas, $5,000, barred as a principal; Camille Chafic Cotran, London, $25,000; John William Curry, fined $5,000, ordered to disgorge $30,000, one-year suspension.@@@@1@71@@oe@2-2-2013
20096039@unknown@formal@none@1@S@John William Davis, Colonsville, Miss., fined $200,000; Jeffrey Gerard Dompierre, Valrico, Fla., $5,000 and 10-day suspension; Eugene Michael Felten, La Canada, Calif., fined $25,000, ordered to disgorge $16,072 and suspended one year; Marion Stewart Spitler, La Canada, fined $15,000, ordered to disgorge $18,444 and suspended six months.@@@@1@47@@oe@2-2-2013
20096040@unknown@formal@none@1@S@Mr. Felten said, "We got what amounted to a parking ticket, and by complaining about it, we ended up with a sizable fine and suspension."@@@@1@25@@oe@2-2-2013
20096041@unknown@formal@none@1@S@The matter "didn't involve anybody's securities transactions," he added.@@@@1@9@@oe@2-2-2013
20096042@unknown@formal@none@1@S@Victor Stanley Fishman, Longwood, Fla., fined $25,000; William Harold Floyd, Houston, $100,000; Michael Anthony Houston, Bronx, N.Y., $15,000; Amin Jalaalwalikraam, Glenham, N.Y., $60,000; Richard F. Knapp, London, $10,000 and 30-day suspension; Deborah Renee Martin, St. Louis, $15,000; Joseph Francis Muscolina Jr., Palisades Park, N.J., $15,000; Robert C. Najarian, Brooklyn Park, Minn., $15,000; Edward Robert Norwick, Nesconset, N.Y., $30,000.@@@@1@58@@oe@2-2-2013
20096043@unknown@formal@none@1@S@Charles D. Phipps Sr., Hermitage, Pa., fined $10,000; David Scott Rankin, Lake St. Louis, Mo., $15,000; Leigh A. Sanderoff, Gaithersburg, Md., fined $45,000, ordered to disgorge $12,252; Sandra Ann Smith, Ridgefield, N.J., $15,000; James G. Spence, Aloha, Ore., $5,000 and six-month suspension; Mona Sun, Jamaica Estates, N.Y., $60,000; William Swearingen, Minneapolis, $15,000 and six-month suspension; John Bew Wong, San Francisco, $25,000; Rabia M. Zayed, San Francisco, $50,000.@@@@1@67@@oe@2-2-2013
20096044@unknown@formal@none@1@S@The following were neither barred nor suspended: Stephanie Veselich Enright, Rolling Hills, Calif., fined $2,500 and ordered to disgorge $11,762; Stuart Lane Russel, Glendale, Calif., fined $2,500 and ordered to disgorge $14,821; Devon Nilson Dahl, Fountain Valley, Calif., fined $82,389.@@@@1@40@@oe@2-2-2013
20096045@unknown@formal@none@1@S@Mr. Dahl, a registered representative in the insurance business, said he "screwed up" because he didn't realize he was breaking securities laws.@@@@1@22@@oe@2-2-2013
20096046@unknown@formal@none@1@S@"Insurance agents have been forced by their companies into becoming registered reps," he said, "but they are not providing compliance and security-type training so that we can avoid stupid mistakes."@@@@1@30@@oe@2-2-2013
20096047@unknown@formal@none@1@S@The following were barred or, where noted, suspended and consented to findings without admitting or denying wrongdoing: Edward L. Cole, Jackson, Miss., $10,000 fine; Rita Rae Cross, Denver, $2,500 fine and 30-day suspension; Thomas Richard Meinders, Colorado Springs, Colo., $2,000 fine, five-day suspension and eight-month suspension as a principal; Ronald A. Cutrer, Baton Rouge, La., $15,000 fine and one-month suspension; Karl Grant Hale, Midvale, Utah, $15,000 fine; Clinton P. Hayne, New Orleans, $7,500 fine and one-week suspension; Richard M. Kane, Coconut Creek, Fla., $250,000 fine; John B. Merrick, Aurora, Colo., $1,000 fine and 10-day suspension; John P. Miller, Baton Rouge, $2,000 fine and two-week suspension; Randolph K. Pace, New York, $10,000 fine and 90-day suspension; Brian D. Pitcher, New Providence, N.J., $30,000 fine; Wayne A. Russo, Bridgeville, Pa., $4,000 fine and 15-day suspension; Orville Leroy Sandberg, Aurora, Colo., $3,500 fine and 10-day suspension; Richard T. Marchese, Las Vegas, Nev., $5,000 and one-year suspension; Eric G. Monchecourt, Las Vegas, $5,000 and one-year suspension; and Robert Gerhard Smith, Carson City, Nev., two-year suspension.@@@@1@171@@oe@2-2-2013
20096048@unknown@formal@none@1@S@"I wasn't ever actively engaged in any securities activities," said Mr. Cutrer.@@@@1@12@@oe@2-2-2013
20096049@unknown@formal@none@1@S@"I never had any clients at all.@@@@1@7@@oe@2-2-2013
20096050@unknown@formal@none@1@S@It was just a stupid mistake to get the license," he said, adding, "I'd just as soon not get into" details of the settlement.@@@@1@24@@oe@2-2-2013
20097001@unknown@formal@none@1@S@Program traders are fond of predicting that if they are blocked in the U.S., they will simply emigrate to foreign stock markets.@@@@1@22@@oe@2-2-2013
20097002@unknown@formal@none@1@S@But in London and Tokyo, where computer-driven trading now plays a small but growing role, traders say a number of hurdles loom.@@@@1@22@@oe@2-2-2013
20097003@unknown@formal@none@1@S@Government officials, especially in Japan, probably would resist any onslaught of program trading by players trying to shrug off the U.S. furor over their activities and marching abroad with their business.@@@@1@31@@oe@2-2-2013
20097004@unknown@formal@none@1@S@Japan is "very concerned" about the possible effects of program trading, a senior Japanese official said after the Oct. 13 stock plunge in New York.@@@@1@25@@oe@2-2-2013
20097005@unknown@formal@none@1@S@U.S. stock-index futures aren't even traded in Japan now.@@@@1@9@@oe@2-2-2013
20097006@unknown@formal@none@1@S@And because of the time difference, the Japanese and the U.S. markets' trading hours don't overlap.@@@@1@16@@oe@2-2-2013
20097007@unknown@formal@none@1@S@It all adds up to a barrier to American-style index arbitrage, the most popular form of U.S. program trading that seeks to exploit brief differences between prices of stocks in New York and the price of a futures contract in Chicago based on those stocks.@@@@1@45@@oe@2-2-2013
20097008@unknown@formal@none@1@S@About 11.6% of all program trading by New York Stock Exchange firms in September took place in foreign markets, according to Big Board data.@@@@1@24@@oe@2-2-2013
20097009@unknown@formal@none@1@S@Yet it is difficult to imagine Japan racing to introduce Chicago-style stock-index futures.@@@@1@13@@oe@2-2-2013
20097010@unknown@formal@none@1@S@Japan's Finance Ministry already is scrutinizing institutional investors' activity to see whether policy changes are needed to cope with the current level of program trading, said Makato Utsumi, vice minister for international finance.@@@@1@33@@oe@2-2-2013
20097011@unknown@formal@none@1@S@Program trading has taken off in Japan since last year's introduction of home-market stock-index futures trading on the Tokyo and Osaka stock exchanges.@@@@1@23@@oe@2-2-2013
20097012@unknown@formal@none@1@S@But regulators are wary.@@@@1@4@@oe@2-2-2013
20097013@unknown@formal@none@1@S@They haven't forgotten the leap in share prices last Dec. 7, when the first bout of foreign-led index arbitrage drove stocks skyward in the last half-hour of trading, startling regulators who thought they had written enough rules to prevent such a swing.@@@@1@42@@oe@2-2-2013
20097014@unknown@formal@none@1@S@Japan's Finance Ministry had set up mechanisms to limit how far futures prices could fall in a single session and to give market operators the authority to suspend trading in futures at any time.@@@@1@34@@oe@2-2-2013
20097015@unknown@formal@none@1@S@"Maybe it wasn't enough," a Finance Ministry official noted after the Dec. 7 surge.@@@@1@14@@oe@2-2-2013
20097016@unknown@formal@none@1@S@Japan's regulators have since tightened controls on index-related stock purchases.@@@@1@10@@oe@2-2-2013
20097017@unknown@formal@none@1@S@Tokyo's leading program traders are the big U.S. securities houses, though the Japanese are playing catch-up.@@@@1@16@@oe@2-2-2013
20097018@unknown@formal@none@1@S@Some U.S. firms, notably Salomon Inc. and Morgan Stanley Group Inc., have reaped a hefty chunk of their Japanese earnings from index arbitrage, both for customers and for their own accounts.@@@@1@31@@oe@2-2-2013
20097019@unknown@formal@none@1@S@(Morgan Stanley last week joined a growing list of U.S. securities firms that have stopped doing index arbitrage for their own accounts.)@@@@1@22@@oe@2-2-2013
20097020@unknown@formal@none@1@S@Both Deryck C. Maughan, who heads Salomon in Tokyo, and John S. Wadsworth, who heads Morgan Stanley there, ascribe a good part of their firms' success in Tokyo to their ability to offer sophisticated, futures-related investment strategies to big institutional clients.@@@@1@41@@oe@2-2-2013
20097021@unknown@formal@none@1@S@They don't have plans to cut back.@@@@1@7@@oe@2-2-2013
20097022@unknown@formal@none@1@S@"It has not been disruptive in the markets here," Mr. Maughan said.@@@@1@12@@oe@2-2-2013
20097023@unknown@formal@none@1@S@"The real difference seems to be that the cash market here . . . is big enough and liquid enough that the futures market isn't having the same impact it does in America."@@@@1@33@@oe@2-2-2013
20097024@unknown@formal@none@1@S@The British also are scrutinizing program trades.@@@@1@7@@oe@2-2-2013
20097025@unknown@formal@none@1@S@Index-arbitrage trading is "something we want to watch closely," an official at London's Stock Exchange said.@@@@1@16@@oe@2-2-2013
20097026@unknown@formal@none@1@S@"We don't think there is cause for concern at the moment."@@@@1@11@@oe@2-2-2013
20097027@unknown@formal@none@1@S@London serves increasingly as a conduit for program trading of U.S. stocks.@@@@1@12@@oe@2-2-2013
20097028@unknown@formal@none@1@S@Market professionals said London has several attractions.@@@@1@7@@oe@2-2-2013
20097029@unknown@formal@none@1@S@First, the trading is done over the counter and isn't reported on either the U.S. or London stock trading tapes.@@@@1@20@@oe@2-2-2013
20097030@unknown@formal@none@1@S@Second, it can be used to unwind positions before U.S. trading begins, but at prices pegged to the previous session's Big Board close.@@@@1@23@@oe@2-2-2013
20097031@unknown@formal@none@1@S@In addition to the extra privacy of these trades, the transactions can often be less expensive to execute, because the parties don't have to pay a floor brokerage fee or a specialist's fee.@@@@1@33@@oe@2-2-2013
20097032@unknown@formal@none@1@S@Still, "Much less {index-arbitrage activity} is done over here than in the U.S." said Richard Barfield, chief investment manager at Standard Life Assurance Co., which manages about #15 billion ($23.72 billion) in United Kingdom institutional funds.@@@@1@36@@oe@2-2-2013
20097033@unknown@formal@none@1@S@Britain has two main index-arbitrage instruments.@@@@1@6@@oe@2-2-2013
20097034@unknown@formal@none@1@S@A Financial Times-Stock Exchange 100-share index option contract is traded on the London Stock Exchange's Traded Options Market.@@@@1@18@@oe@2-2-2013
20097035@unknown@formal@none@1@S@And an FT-SE futures contract is traded on the London International Financial Futures Exchange.@@@@1@14@@oe@2-2-2013
20097036@unknown@formal@none@1@S@Both contracts have gained a following since the 1987 global market crash.@@@@1@12@@oe@2-2-2013
20097037@unknown@formal@none@1@S@The average number of FT-SE option contracts traded on the London exchange has surged nearly tenfold since the contract's launch in 1984.@@@@1@22@@oe@2-2-2013
20097038@unknown@formal@none@1@S@This year, the average of daily contracts traded totaled 9,118, up from 4,645 a year earlier and from 917 in 1984.@@@@1@21@@oe@2-2-2013
20097039@unknown@formal@none@1@S@But a survey early this summer indicated that the volume of index-options trading was only 15% of the size of the underlying equity market, exchange officials said.@@@@1@27@@oe@2-2-2013
20097040@unknown@formal@none@1@S@This compares with estimates that the U.S. "derivatives" market is perhaps four times as large as the underlying domestic market.@@@@1@20@@oe@2-2-2013
20098001@unknown@formal@none@1@S@The House voted to boost the federal minimum wage for the first time since early 1981, casting a solid 382-37 vote for a compromise measure backed by President Bush.@@@@1@29@@oe@2-2-2013
20098002@unknown@formal@none@1@S@The vote came after a debate replete with complaints from both proponents and critics of a substantial increase in the wage floor.@@@@1@22@@oe@2-2-2013
20098003@unknown@formal@none@1@S@Advocates said the 90-cent-an-hour rise, to $4.25 an hour by April 1991, is too small for the working poor, while opponents argued that the increase will still hurt small business and cost many thousands of jobs.@@@@1@36@@oe@2-2-2013
20098004@unknown@formal@none@1@S@But the legislation reflected a compromise agreed to on Tuesday by President Bush and Democratic leaders in Congress, after congressional Republicans urged the White House to bend a bit from its previous resistance to compromise.@@@@1@35@@oe@2-2-2013
20098005@unknown@formal@none@1@S@So both sides accepted the compromise, which would lead to the first lifting of the minimum wage since a four-year law was enacted in 1977, raising the wage to $3.35 an hour from $2.65.@@@@1@34@@oe@2-2-2013
20098006@unknown@formal@none@1@S@Under the measure passed yesterday, the minimum wage would rise to $3.80 next April.@@@@1@14@@oe@2-2-2013
20098007@unknown@formal@none@1@S@The Senate plans to take up the measure quickly and is expected to pass it.@@@@1@15@@oe@2-2-2013
20098008@unknown@formal@none@1@S@"There are no smiles about this bill," Rep. Pat Williams (D., Mont.) said during House floor debate yesterday.@@@@1@18@@oe@2-2-2013
20098009@unknown@formal@none@1@S@But "because it's all we've got, I'm going to vote for it."@@@@1@12@@oe@2-2-2013
20098010@unknown@formal@none@1@S@While the minimum wage had traditionally been pegged at half the average U.S. manufacturing wage, the level of $4.25 an hour in 1991 will still be less than 35% of average factory pay, Mr. Williams said.@@@@1@36@@oe@2-2-2013
20098011@unknown@formal@none@1@S@But Rep. Marge Roukema (R., N.J.) instead praised the House's acceptance of a new youth "training" wage, a subminimum that GOP administrations have sought for many years.@@@@1@27@@oe@2-2-2013
20098012@unknown@formal@none@1@S@Adopting a training-wage policy means "getting beyond the nickel and diming of the minimum wage," Mrs. Roukema said.@@@@1@18@@oe@2-2-2013
20098013@unknown@formal@none@1@S@Policy makers regard the youth wage as helping to limit the loss of jobs from an increase in the minimum wage, but they have lately touted it as necessary to help impart job skills to entrants into the work force.@@@@1@40@@oe@2-2-2013
20098014@unknown@formal@none@1@S@Labor unions and Democrats long fought the idea, but recently acceded to it in the face of Bush administration insistence.@@@@1@20@@oe@2-2-2013
20098015@unknown@formal@none@1@S@The compromise sets the training wage at $3.35 an hour next April, and at $3.61 an hour, or 85% of the minimum wage, in April 1991.@@@@1@26@@oe@2-2-2013
20098016@unknown@formal@none@1@S@Employers can pay the subminimum for 90 days, without restriction, to workers with less than six months of job experience, and for another 90 days if the company uses a government-certified training program for the young workers.@@@@1@37@@oe@2-2-2013
20098017@unknown@formal@none@1@S@The training wage covers only workers who are 16 to 19 years old.@@@@1@13@@oe@2-2-2013
20098018@unknown@formal@none@1@S@The White House previously insisted on an unrestricted six-month training wage that could be paid any time a worker of any age took a new job.@@@@1@26@@oe@2-2-2013
20098019@unknown@formal@none@1@S@The U.S. Chamber of Commerce, still opposed to any mininum-wage increase, said the compromise plan to lift the wage floor 27% in two stages between April 1990 and April 1991 "will be impossible for many employers to accommodate and will result in the elimination of jobs for American workers and higher prices for American consumers.@@@@1@55@@oe@2-2-2013
20099001@unknown@formal@none@1@S@Zenith Data Systems Corp., a subsidiary of Zenith Electronics Corp., received a $534 million Navy contract for software and services of microcomputers over an 84-month period.@@@@1@26@@oe@2-2-2013
20099002@unknown@formal@none@1@S@Rockwell International Corp. won a $130.7 million Air Force contract for AC-130U gunship replacement aircraft.@@@@1@15@@oe@2-2-2013
20099003@unknown@formal@none@1@S@Martin Marietta Corp. was given a $29.9 million Air Force contract for low-altitude navigation and targeting equipment.@@@@1@17@@oe@2-2-2013
20099004@unknown@formal@none@1@S@Federal Data Corp. got a $29.4 million Air Force contract for intelligence data handling.@@@@1@14@@oe@2-2-2013
20100001@unknown@formal@none@1@S@For six years, T. Marshall Hahn Jr. has made corporate acquisitions in the George Bush mode: kind and gentle.@@@@1@19@@oe@2-2-2013
20100002@unknown@formal@none@1@S@The question now: Can he act more like hard-charging Teddy Roosevelt?@@@@1@11@@oe@2-2-2013
20100003@unknown@formal@none@1@S@Mr. Hahn, the 62-year-old chairman and chief executive officer of Georgia-Pacific Corp. is leading the forest-product concern's unsolicited $3.19 billion bid for Great Northern Nekoosa Corp.@@@@1@26@@oe@2-2-2013
20100004@unknown@formal@none@1@S@Nekoosa has given the offer a public cold shoulder, a reaction Mr. Hahn hasn't faced in his 18 earlier acquisitions, all of which were negotiated behind the scenes.@@@@1@28@@oe@2-2-2013
20100005@unknown@formal@none@1@S@So far, Mr. Hahn is trying to entice Nekoosa into negotiating a friendly surrender while talking tough.@@@@1@17@@oe@2-2-2013
20100006@unknown@formal@none@1@S@"We are prepared to pursue aggressively completion of this transaction," he says.@@@@1@12@@oe@2-2-2013
20100007@unknown@formal@none@1@S@But a takeover battle opens up the possibility of a bidding war, with all that implies.@@@@1@16@@oe@2-2-2013
20100008@unknown@formal@none@1@S@If a competitor enters the game, for example, Mr. Hahn could face the dilemma of paying a premium for Nekoosa or seeing the company fall into the arms of a rival.@@@@1@31@@oe@2-2-2013
20100009@unknown@formal@none@1@S@Given that choice, associates of Mr. Hahn and industry observers say the former university president -- who has developed a reputation for not overpaying for anything -- would fold.@@@@1@29@@oe@2-2-2013
20100010@unknown@formal@none@1@S@"There's a price above which I'm positive Marshall has the courage not to pay," says A.D. Correll, Georgia-Pacific's executive vice president for pulp and paper.@@@@1@25@@oe@2-2-2013
20100011@unknown@formal@none@1@S@Says long-time associate Jerry Griffin, vice president, corporate development, at WTD Industries Inc.: "He isn't of the old school of winning at any cost."@@@@1@24@@oe@2-2-2013
20100012@unknown@formal@none@1@S@He also is a consensus manager, insiders say.@@@@1@8@@oe@2-2-2013
20100013@unknown@formal@none@1@S@The decision to make the bid for Nekoosa, for example, was made only after all six members of Georgia-Pacific's management committee signed onto the deal -- even though Mr. Hahn knew he wanted to go after the company early on, says Mr. Correll.@@@@1@43@@oe@2-2-2013
20100014@unknown@formal@none@1@S@Associates say Mr. Hahn picked up that careful approach to management as president of Virginia Polytechnic Institute.@@@@1@17@@oe@2-2-2013
20100015@unknown@formal@none@1@S@Assuming that post at the age of 35, he managed by consensus, as is the rule in universities, says Warren H. Strother, a university official who is researching a book on Mr. Hahn.@@@@1@33@@oe@2-2-2013
20100016@unknown@formal@none@1@S@But he also showed a willingness to take a strong stand.@@@@1@11@@oe@2-2-2013
20100017@unknown@formal@none@1@S@In 1970, Mr. Hahn called in state police to arrest student protesters who were occupying a university building.@@@@1@18@@oe@2-2-2013
20100018@unknown@formal@none@1@S@That impressed Robert B. Pamplin, Georgia-Pacific's chief executive at the time, whom Mr. Hahn had met while fundraising for the institute.@@@@1@21@@oe@2-2-2013
20100019@unknown@formal@none@1@S@In 1975, Mr. Pamplin enticed Mr. Hahn into joining the company as executive vice president in charge of chemicals; the move befuddled many in Georgia-Pacific who didn't believe a university administrator could make the transition to the corporate world.@@@@1@39@@oe@2-2-2013
20100020@unknown@formal@none@1@S@But Mr. Hahn rose swiftly through the ranks, demonstrating a raw intelligence that he says he knew he possessed early on.@@@@1@21@@oe@2-2-2013
20100021@unknown@formal@none@1@S@The son of a physicist, Mr. Hahn skipped first grade because his reading ability was so far above his classmates.@@@@1@20@@oe@2-2-2013
20100022@unknown@formal@none@1@S@Moving rapidly through school, he graduated Phi Beta Kappa from the University of Kentucky at age 18, after spending only 2 1/2 years in college.@@@@1@25@@oe@2-2-2013
20100023@unknown@formal@none@1@S@He earned his doctorate in nuclear physics from the Massachusetts Institute of Technology.@@@@1@13@@oe@2-2-2013
20100024@unknown@formal@none@1@S@Mr. Hahn agrees that he has a "retentive" memory, but friends say that's an understatement.@@@@1@15@@oe@2-2-2013
20100025@unknown@formal@none@1@S@They call it "photographic".@@@@1@4@@oe@2-2-2013
20100026@unknown@formal@none@1@S@Mr. Hahn also has engineered a surprising turnaround of Georgia-Pacific.@@@@1@10@@oe@2-2-2013
20100027@unknown@formal@none@1@S@Taking over as chief executive officer in 1983, he inherited a company that was mired in debt and hurt by a recession-inspired slide in its building-products business.@@@@1@27@@oe@2-2-2013
20100028@unknown@formal@none@1@S@Mr. Hahn began selling non-core businesses, such as oil and gas and chemicals.@@@@1@13@@oe@2-2-2013
20100029@unknown@formal@none@1@S@He even sold one unit that made vinyl checkbook covers.@@@@1@10@@oe@2-2-2013
20100030@unknown@formal@none@1@S@At the same time, he began building up the pulp and paper segment of the company while refocusing building products on home repair and remodeling, rather than materials for new-home construction.@@@@1@31@@oe@2-2-2013
20100031@unknown@formal@none@1@S@The idea was to buffet building products from cycles in new-home construction.@@@@1@12@@oe@2-2-2013
20100032@unknown@formal@none@1@S@The formula has paid off, so far.@@@@1@7@@oe@2-2-2013
20100033@unknown@formal@none@1@S@Georgia-Pacific's sales climbed to $9.5 billion last year, compared with $6 billion in 1983, when Mr. Hahn took the reins.@@@@1@20@@oe@2-2-2013
20100034@unknown@formal@none@1@S@Profit from continuing operations has soared to $467 million from $75 million.@@@@1@12@@oe@2-2-2013
20100035@unknown@formal@none@1@S@Mr. Hahn attributes the gains to the philosophy of concentrating on what a company knows best.@@@@1@16@@oe@2-2-2013
20100036@unknown@formal@none@1@S@"The record of companies that have diversified isn't all that impressive," he says.@@@@1@13@@oe@2-2-2013
20100037@unknown@formal@none@1@S@Nekoosa wouldn't be a diversification.@@@@1@5@@oe@2-2-2013
20100038@unknown@formal@none@1@S@It would be a good match, Mr. Hahn and many analysts say, of two healthy companies with high-quality assets and strong cash flows.@@@@1@23@@oe@2-2-2013
20100039@unknown@formal@none@1@S@The resulting company would be the largest forest-products concern in the world with combined sales of more than $13 billion.@@@@1@20@@oe@2-2-2013
20100040@unknown@formal@none@1@S@But can Mr. Hahn carry it off?@@@@1@7@@oe@2-2-2013
20100041@unknown@formal@none@1@S@In this instance, industry observers say, he is entering uncharted waters.@@@@1@11@@oe@2-2-2013
20100042@unknown@formal@none@1@S@Says Kathryn McAuley, an analyst at First Manhattan Co.: "This is the greatest acquisition challenge he has faced.@@@@1@18@@oe@2-2-2013
20101001@unknown@formal@none@1@S@A House-Senate conference approved major portions of a package for more than $500 million in economic aid for Poland that relies heavily on $240 million in credit and loan guarantees in fiscal 1990 in hopes of stimulating future trade and investment.@@@@1@41@@oe@2-2-2013
20101002@unknown@formal@none@1@S@For the Agency for International Development, appropriators approved $200 million in secondary loan guarantees under an expanded trade credit insurance program, and total loan guarantees for the Overseas Private Investment Corp. are increased by $40 million over fiscal 1989 as part of the same Poland package.@@@@1@46@@oe@2-2-2013
20101003@unknown@formal@none@1@S@The conference approved at least $55 million in direct cash and development assistance as well, and though no decision was made, both sides are committed to adding more than $200 million in economic support funds and environmental initiatives sought by the Bush administration.@@@@1@43@@oe@2-2-2013
20101004@unknown@formal@none@1@S@The agreement on Poland contrasts with the major differences remaining over the underlying foreign aid bill, which has already provoked veto threats by the White House and is sharply confined under this year's budget.@@@@1@34@@oe@2-2-2013
20101005@unknown@formal@none@1@S@These fiscal pressures are also a factor in shaping the Poland package, and while more ambitious authorizing legislation is still pending, the appropriations bill in conference will be more decisive on U.S. aid to Eastern Europe.@@@@1@36@@oe@2-2-2013
20101006@unknown@formal@none@1@S@To accommodate the additional cash assistance, the House Appropriations Committee last week was required to reallocate an estimated $140 million from the Pentagon.@@@@1@23@@oe@2-2-2013
20101007@unknown@formal@none@1@S@And though the size of the loan guarantees approved yesterday is significant, recent experience with a similar program in Central America indicates that it could take several years before the new Polish government can fully use the aid effectively.@@@@1@39@@oe@2-2-2013
20101008@unknown@formal@none@1@S@The action on Poland came as the conference separately approved $220 million for international population planning activities, an 11% increase over fiscal 1989.@@@@1@23@@oe@2-2-2013
20101009@unknown@formal@none@1@S@The House and Senate are divided over whether the United Nations Population Fund will receive any portion of these appropriations, but the size of the increase is itself significant.@@@@1@29@@oe@2-2-2013
20101010@unknown@formal@none@1@S@In a second area of common concern, the world environment, an additional $15 million will be provided in development assistance to fund a series of initiatives, related both to global warming and the plight of the African elephant.@@@@1@38@@oe@2-2-2013
20101011@unknown@formal@none@1@S@The sweeping nature of the bill draws a variety of special interest amendments, running from an import exemption for a California airplane museum to a small but intriguing struggle among sugar producing nations over the fate of Panama's quota of exports to the profitable U.S. market.@@@@1@46@@oe@2-2-2013
20101012@unknown@formal@none@1@S@Panama was stripped of this right because of U.S. differences with the Noriega regime, but the Central American country would have received a quota of 30,537 metric tons over a 21-month period ending Sept. 30, 1990.@@@@1@36@@oe@2-2-2013
20101013@unknown@formal@none@1@S@About a quarter of this share has already been reallocated, according to the industry, but the remaining 23,403 tons are still a lucrative target for growers because the current U.S. price of 18 cents a pound runs as much as a nickel a pound above the world rate.@@@@1@48@@oe@2-2-2013
20101014@unknown@formal@none@1@S@The potential sales are nearly $9.3 million, and House Majority Whip William Gray (D., Pa.) began the bidding this year by proposing language that the quota be allocated to English-speaking countries of the Caribbean, such as Jamaica and Barbados.@@@@1@39@@oe@2-2-2013
20101015@unknown@formal@none@1@S@Rep. Jerry Lewis, a conservative Californian, added a provision of his own intended to assist Bolivia, and the Senate then broadened the list further by including all countries in the U.S. Caribbean Basin initiate as well as the Philippines-backed by the powerful Hawaii Democrat Sen. Daniel Inouye.@@@@1@47@@oe@2-2-2013
20101016@unknown@formal@none@1@S@Jamaica, wary of upsetting its Caribbean Basin allies, has apparently instructed its lobbyist to abandon the provision initially drafted by Mr. Gray, but the greater question is whether Mr. Inouye, who has strong ties to the sugar industry, is able to insert a claim by the Philippines.@@@@1@47@@oe@2-2-2013
20101017@unknown@formal@none@1@S@In separate floor action, the House waived budget restrictions and gave quick approval to $3.18 billion in supplemental appropriations for law enforcement and anti-drug programs in fiscal 1990.@@@@1@28@@oe@2-2-2013
20101018@unknown@formal@none@1@S@The funding is attached to an estimated $27.1 billion transportation bill that goes next to the Senate and carries with it a proposed permanent smoking ban on virtually all U.S. domestic airline flights.@@@@1@33@@oe@2-2-2013
20101019@unknown@formal@none@1@S@The leadership hopes to move the compromise measure promptly to the White House, but in recent days, the Senate has been as likely to bounce bills back to the House.@@@@1@30@@oe@2-2-2013
20101020@unknown@formal@none@1@S@The most recent example was a nearly $17.3 billion fiscal 1990 bill funding the State, Justice and Commerce departments.@@@@1@19@@oe@2-2-2013
20101021@unknown@formal@none@1@S@And after losing a battle Tuesday night with the Senate Foreign Relations Committee, appropriators from both houses are expected to be forced back to conference.@@@@1@25@@oe@2-2-2013
20102001@unknown@formal@none@1@S@Beauty Takes Backseat To Safety on Bridges@@@@1@7@@oe@2-2-2013
20102002@unknown@formal@none@1@S@EVERYONE AGREES that most of the nation's old bridges need to be repaired or replaced.@@@@1@15@@oe@2-2-2013
20102003@unknown@formal@none@1@S@But there's disagreement over how to do it.@@@@1@8@@oe@2-2-2013
20102004@unknown@formal@none@1@S@Highway officials insist the ornamental railings on older bridges aren't strong enough to prevent vehicles from crashing through.@@@@1@18@@oe@2-2-2013
20102005@unknown@formal@none@1@S@But other people don't want to lose the bridges' beautiful, sometimes historic, features.@@@@1@13@@oe@2-2-2013
20102006@unknown@formal@none@1@S@"The primary purpose of a railing is to contain a vehicle and not to provide a scenic view," says Jack White, a planner with the Indiana Highway Department.@@@@1@28@@oe@2-2-2013
20102007@unknown@formal@none@1@S@He and others prefer to install railings such as the "type F safety shape," a four-foot-high concrete slab with no openings.@@@@1@21@@oe@2-2-2013
20102008@unknown@formal@none@1@S@In Richmond, Ind., the type F railing is being used to replace arched openings on the G Street Bridge.@@@@1@19@@oe@2-2-2013
20102009@unknown@formal@none@1@S@Garret Boone, who teaches art at Earlham College, calls the new structure "just an ugly bridge" and one that blocks the view of a new park below.@@@@1@27@@oe@2-2-2013
20102010@unknown@formal@none@1@S@In Hartford, Conn., the Charter Oak Bridge will soon be replaced, the cast-iron medallions from its railings relegated to a park.@@@@1@21@@oe@2-2-2013
20102011@unknown@formal@none@1@S@Compromises are possible.@@@@1@3@@oe@2-2-2013
20102012@unknown@formal@none@1@S@Citizens in Peninsula, Ohio, upset over changes to a bridge, negotiated a deal: The bottom half of the railing will be type F, while the top half will have the old bridge's floral pattern.@@@@1@34@@oe@2-2-2013
20102013@unknown@formal@none@1@S@Similarly, highway engineers agreed to keep the old railings on the Key Bridge in Washington, D.C., as long as they could install a crash barrier between the sidewalk and the road.@@@@1@31@@oe@2-2-2013
20102014@unknown@formal@none@1@S@Tray Bon?@@@@1@2@@oe@2-2-2013
20102015@unknown@formal@none@1@S@Drink Carrier Competes With Cartons@@@@1@5@@oe@2-2-2013
20102016@unknown@formal@none@1@S@PORTING POTABLES just got easier, or so claims Scypher Corp., the maker of the Cup-Tote.@@@@1@15@@oe@2-2-2013
20102017@unknown@formal@none@1@S@The Chicago company's beverage carrier, meant to replace cardboard trays at concession stands and fast-food outlets, resembles the plastic loops used on six-packs of beer, only the loops hang from a web of strings.@@@@1@34@@oe@2-2-2013
20102018@unknown@formal@none@1@S@The new carrier can tote as many as four cups at once.@@@@1@12@@oe@2-2-2013
20102019@unknown@formal@none@1@S@Inventor Claire Marvin says his design virtually eliminates spilling.@@@@1@9@@oe@2-2-2013
20102020@unknown@formal@none@1@S@Lids aren't even needed.@@@@1@4@@oe@2-2-2013
20102021@unknown@formal@none@1@S@He also claims the carrier costs less and takes up less space than most paper carriers.@@@@1@16@@oe@2-2-2013
20102022@unknown@formal@none@1@S@A few fast-food outlets are giving it a try.@@@@1@9@@oe@2-2-2013
20102023@unknown@formal@none@1@S@The company acknowledges some problems.@@@@1@5@@oe@2-2-2013
20102024@unknown@formal@none@1@S@A driver has to find something to hang the carrier on, so the company supplies a window hook.@@@@1@18@@oe@2-2-2013
20102025@unknown@formal@none@1@S@While it breaks down in prolonged sunlight, it isn't recyclable.@@@@1@10@@oe@2-2-2013
20102026@unknown@formal@none@1@S@And unlike some trays, there's no place for food.@@@@1@9@@oe@2-2-2013
20102027@unknown@formal@none@1@S@Spirit of Perestroika Touches Design World@@@@1@6@@oe@2-2-2013
20102028@unknown@formal@none@1@S@AN EXCHANGE of U.S. and Soviet designers promises change on both sides.@@@@1@12@@oe@2-2-2013
20102029@unknown@formal@none@1@S@An exhibition of American design and architecture opened in September in Moscow and will travel to eight other Soviet cities.@@@@1@20@@oe@2-2-2013
20102030@unknown@formal@none@1@S@The show runs the gamut, from a blender to chairs to a model of the Citicorp building.@@@@1@17@@oe@2-2-2013
20102031@unknown@formal@none@1@S@The event continues into next year and includes an exchange program to swap design teachers at Carnegie-Mellon and Leningrad's Mutchin Institute.@@@@1@21@@oe@2-2-2013
20102032@unknown@formal@none@1@S@Dan Droz, leader of the Carnegie-Mellon group, sees benefits all around.@@@@1@11@@oe@2-2-2013
20102033@unknown@formal@none@1@S@The Soviets, who normally have few clients other than the state, will get "exposure to a market system," he says.@@@@1@20@@oe@2-2-2013
20102034@unknown@formal@none@1@S@Americans will learn more about making products for the Soviets.@@@@1@10@@oe@2-2-2013
20102035@unknown@formal@none@1@S@Mr. Droz says the Soviets could even help U.S. designers renew their sense of purpose.@@@@1@15@@oe@2-2-2013
20102036@unknown@formal@none@1@S@"In Moscow, they kept asking us things like, `Why do you make 15 different corkscrews, when all you need is one good one?'" he says.@@@@1@25@@oe@2-2-2013
20102037@unknown@formal@none@1@S@"They got us thinking maybe we should be helping U.S. companies improve existing products rather than always developing new ones."@@@@1@20@@oe@2-2-2013
20102038@unknown@formal@none@1@S@Seed for Jail Solution Fails to Take Root@@@@1@8@@oe@2-2-2013
20102039@unknown@formal@none@1@S@IT'S A TWO BIRDS with one stone deal: Eggers Group architects propose using grain elevators to house prisoners.@@@@1@18@@oe@2-2-2013
20102040@unknown@formal@none@1@S@It would ease jail overcrowding while preserving historic structures, the company says.@@@@1@12@@oe@2-2-2013
20102041@unknown@formal@none@1@S@But New York state, which is seeking solutions to its prison cell shortage, says "no."@@@@1@15@@oe@2-2-2013
20102042@unknown@formal@none@1@S@Grain elevators built in the 1920s and '30s have six-inch concrete walls and a tubular shape that would easily contain semicircular cells with a control point in the middle, the New York firm says.@@@@1@34@@oe@2-2-2013
20102043@unknown@formal@none@1@S@Many are far enough from residential areas to pass public muster, yet close enough to permit family visits.@@@@1@18@@oe@2-2-2013
20102044@unknown@formal@none@1@S@Besides, Eggers says, grain elevators are worth preserving for aesthetic reasons -- one famed architect compared them to the pyramids of Egypt.@@@@1@22@@oe@2-2-2013
20102045@unknown@formal@none@1@S@A number of cities -- including Minneapolis, Philadelphia and Houston -- have vacant grain elevators, Eggers says.@@@@1@17@@oe@2-2-2013
20102046@unknown@formal@none@1@S@A medium-sized one in Brooklyn, it says, could be altered to house up to 1,000 inmates at a lower cost than building a new prison in upstate New York.@@@@1@29@@oe@2-2-2013
20102047@unknown@formal@none@1@S@A spokesman for the state, however, calls the idea "not effective or cost efficient.@@@@1@14@@oe@2-2-2013
20103001@unknown@formal@none@1@S@The Labor Department cited USX Corp. for numerous health and safety violations at two Pennsylvania plants, and proposed $7.3 million in fines, the largest penalty ever proposed for alleged workplace violations by an employer.@@@@1@34@@oe@2-2-2013
20103002@unknown@formal@none@1@S@The department's Occupational Safety and Health Administration proposed fines of $6.1 million for alleged violations at the company's Fairless Hills, Pa., steel mill; that was a record for proposed penalties at any single facility.@@@@1@34@@oe@2-2-2013
20103003@unknown@formal@none@1@S@OSHA cited nearly 1,500 alleged violations of federal electrical, crane-safety, record-keeping and other requirements.@@@@1@14@@oe@2-2-2013
20103004@unknown@formal@none@1@S@A second citation covering the company's Clairton, Pa., coke works involved more than 200 alleged violations of electrical-safety and other requirements, for which OSHA proposed $1.2 million in fines.@@@@1@29@@oe@2-2-2013
20103005@unknown@formal@none@1@S@Labor Secretary Elizabeth Dole said, "The magnitude of these penalties and citations is matched only by the magnitude of the hazards to workers which resulted from corporate indifference to worker safety and health, and severe cutbacks in the maintenance and repair programs needed to remove those hazards."@@@@1@47@@oe@2-2-2013
20103006@unknown@formal@none@1@S@OSHA said there have been three worker fatalities at the two plants in the past two years and 17 deaths since 1972.@@@@1@22@@oe@2-2-2013
20103007@unknown@formal@none@1@S@Gerard Scannell, the head of OSHA, said USX managers have known about many of the safety and health deficiencies at the plants for years, "yet have failed to take necessary action to counteract the hazards."@@@@1@35@@oe@2-2-2013
20103008@unknown@formal@none@1@S@"Particularly flagrant," Mrs. Dole said, "are the company's numerous failures to properly record injuries at its Fairless works, in spite of the firm promise it had made in an earlier corporate-wide settlement agreement to correct such discrepancies."@@@@1@37@@oe@2-2-2013
20103009@unknown@formal@none@1@S@That settlement was in April 1987.@@@@1@6@@oe@2-2-2013
20103010@unknown@formal@none@1@S@A USX spokesman said the company hadn't yet received any documents from OSHA regarding the penalty or fine.@@@@1@18@@oe@2-2-2013
20103011@unknown@formal@none@1@S@"Once we do, they will receive very serious evaluation," the spokesman said.@@@@1@12@@oe@2-2-2013
20103012@unknown@formal@none@1@S@"No consideration is more important than the health and safety of our employees."@@@@1@13@@oe@2-2-2013
20103013@unknown@formal@none@1@S@USX said it has been cooperating with OSHA since the agency began investigating the Clairton and Fairless works.@@@@1@18@@oe@2-2-2013
20103014@unknown@formal@none@1@S@He said that, if and when safety problems were identified, they were corrected.@@@@1@13@@oe@2-2-2013
20103015@unknown@formal@none@1@S@The USX citations represented the first sizable enforcement action taken by OSHA under Mr. Scannell.@@@@1@15@@oe@2-2-2013
20103016@unknown@formal@none@1@S@He has promised stiffer fines, though the size of penalties sought by OSHA have been rising in recent years even before he took office this year.@@@@1@26@@oe@2-2-2013
20103017@unknown@formal@none@1@S@"The big problem is that USX management has proved unwilling to devote the necessary resources and manpower to removing hazards and to safeguarding safety and health in the plants," said Linda Anku, OSHA regional administrator in Philadelphia.@@@@1@37@@oe@2-2-2013
20103018@unknown@formal@none@1@S@USX has 15 working days to contest the citations and proposed penalties, before the independent Occupational Safety and Health Review Commission.@@@@1@21@@oe@2-2-2013
20103019@unknown@formal@none@1@S@Before the USX case, OSHA's largest proposed fine for one employer was $4.3 million for alleged safety violations at John Morrell & Co., a meatpacking subsidiary of United Brands Co., Cincinnati.@@@@1@31@@oe@2-2-2013
20103020@unknown@formal@none@1@S@The company is contesting the fine.@@@@1@6@@oe@2-2-2013
20104001@unknown@formal@none@1@S@Due to an editing error, a letter to the editor in yesterday's edition from Frederick H. Hallett mistakenly identified the NRDC.@@@@1@21@@oe@2-2-2013
20104002@unknown@formal@none@1@S@It should be the Natural Resources Defense Council.@@@@1@8@@oe@2-2-2013
20105001@unknown@formal@none@1@S@Your Oct. 6 editorial "The Ill Homeless" referred to research by us and six of our colleagues that was reported in the Sept. 8 issue of the Journal of the American Medical Association.@@@@1@33@@oe@2-2-2013
20105002@unknown@formal@none@1@S@Your comments implied we had discovered that the "principal cause" of homelessness is to be found in the large numbers of mentally ill and substance-abusing people in the homeless population.@@@@1@30@@oe@2-2-2013
20105003@unknown@formal@none@1@S@We have made no such statement.@@@@1@6@@oe@2-2-2013
20105004@unknown@formal@none@1@S@It is clear that most mentally ill people and most alcoholics do not become homeless.@@@@1@15@@oe@2-2-2013
20105005@unknown@formal@none@1@S@The "causes" of homelessness are poorly understood and complex in any individual case.@@@@1@13@@oe@2-2-2013
20105006@unknown@formal@none@1@S@In quoting from our research you emphasized the high prevalance of mental illness and alcoholism.@@@@1@15@@oe@2-2-2013
20105007@unknown@formal@none@1@S@You did not note that the homeless people we examined had a multitude of physical disorders in addition to their psychiatric problems and substance abuse.@@@@1@25@@oe@2-2-2013
20105008@unknown@formal@none@1@S@They suffered from malnutrition, chest diseases, cardiovascular disorders, skin problems, infectious diseases and the aftereffects of assaults and rape.@@@@1@19@@oe@2-2-2013
20105009@unknown@formal@none@1@S@Homeless people not only lack safety, privacy and shelter, they also lack the elementary necessities of nutrition, cleanliness and basic health care.@@@@1@22@@oe@2-2-2013
20105010@unknown@formal@none@1@S@In a recent report, the Institute of Medicine pointed out that certain health problems may predispose a person to homelessness, others may be a consequence of it, and a third category is composed of disorders whose treatment is difficult or impossible if a person lacks adequate shelter.@@@@1@47@@oe@2-2-2013
20105011@unknown@formal@none@1@S@The interactions between health and homelessness are complex, defying sweeping generalizations as to "cause" or "effect."@@@@1@16@@oe@2-2-2013
20105012@unknown@formal@none@1@S@If we look to the future, preventing homelessness is an important objective.@@@@1@12@@oe@2-2-2013
20105013@unknown@formal@none@1@S@This will require us to develop a much more sophisticated understanding of the dynamics of homelessness than we currently possess, an understanding that can be developed only through careful study and research.@@@@1@32@@oe@2-2-2013
20105014@unknown@formal@none@1@S@William R. Breakey M.D. Pamela J. Fischer M.D. Department of Psychiatry Johns Hopkins University School of Medicine Baltimore@@@@1@18@@oe@2-2-2013
20105015@unknown@formal@none@1@S@A study by Tulane Prof. James Wright says homelessness is due to a complex array of problems, with the common thread of poverty.@@@@1@23@@oe@2-2-2013
20105016@unknown@formal@none@1@S@The study shows that nearly 40% of the homeless population is made up of women and children and that only 25% of the homeless exhibits some combination of drug, alcohol and mental problems.@@@@1@33@@oe@2-2-2013
20105017@unknown@formal@none@1@S@According to Dr. Wright, homelessness is "simultaneously a housing problem, an employment problem, a demographic problem, a problem of social disaffiliation, a mental health problem, a family violence problem, a problem created by the cutbacks in social welfare spending, a problem resulting from the decay of the traditional nuclear family, and a problem intimately connected to the recent increase in the number of persons living below the poverty level."@@@@1@69@@oe@2-2-2013
20105018@unknown@formal@none@1@S@Leighton E. Cluff M.D. President Robert Wood Johnson Foundation Princeton, N.J.@@@@1@11@@oe@2-2-2013
20105019@unknown@formal@none@1@S@To quote the highly regarded director of a privately funded drop-in center for the homeless in New York: "If you're homeless, you don't sleep for fear of being robbed or murdered.@@@@1@31@@oe@2-2-2013
20105020@unknown@formal@none@1@S@After your first three weeks of sleep deprivation, you're scarcely in touch with reality any more; without psychiatric treatment, you may well be unable to fend for yourself ever again."@@@@1@30@@oe@2-2-2013
20105021@unknown@formal@none@1@S@Some of the homeless, obviously, had pre-existing mental illness or addiction.@@@@1@11@@oe@2-2-2013
20105022@unknown@formal@none@1@S@But many others have fallen through cracks in the economy into the grim, brutal world of our city streets.@@@@1@19@@oe@2-2-2013
20105023@unknown@formal@none@1@S@Once there, what ways of escape are open to them other than drink, drugs or insanity?@@@@1@16@@oe@2-2-2013
20105024@unknown@formal@none@1@S@Maxwell R.D. Vos Brooklyn, N.Y.@@@@1@5@@oe@2-2-2013
20105025@unknown@formal@none@1@S@You dismiss as "sentimental" the view that the reduction of federal housing-assistance programs by 77% might have played a significant role in the increased number of men and women sleeping on our city streets during the Reagan-Bush years.@@@@1@38@@oe@2-2-2013
20105026@unknown@formal@none@1@S@There is no sign that you bothered to consider the inverse of your logic: namely, that mental illness and substance abuse might be to some degree consequences rather than causes of homelessness.@@@@1@32@@oe@2-2-2013
20105027@unknown@formal@none@1@S@Your research stopped when a convenient assertion could be made.@@@@1@10@@oe@2-2-2013
20105028@unknown@formal@none@1@S@Robert S. Jenkins Cambridge, Mass.@@@@1@5@@oe@2-2-2013
20105029@unknown@formal@none@1@S@Of the approximately 200 sponsors of the recent march in Washington for the homeless, you chose to cite such groups as the National Association of Home Builders and the International Union of Bricklayers and Allied Craftsmen, insinuating that the march got its major support from self-serving groups that "know a good thing when they see it," and that the crusade was based on greed or the profit motive.@@@@1@68@@oe@2-2-2013
20105030@unknown@formal@none@1@S@But isn't the desire for profit the driving force behind those who subscribe to, and advertise in, your paper?@@@@1@19@@oe@2-2-2013
20105031@unknown@formal@none@1@S@Why didn't you mention the YMCA or the YWCA or Catholic Charities USA or a hundred other nonprofit organizations that participated in the march?@@@@1@24@@oe@2-2-2013
20105032@unknown@formal@none@1@S@As for the findings on the 203 Baltimore homeless who underwent psychiatric examinations, I suggest you conduct your own survey.@@@@1@20@@oe@2-2-2013
20105033@unknown@formal@none@1@S@Choose 203 business executives, including, perhaps, someone from your own staff, and put them out on the streets, to be deprived for one month of their homes, families and income.@@@@1@30@@oe@2-2-2013
20105034@unknown@formal@none@1@S@I would predict that within a short time most of them would find Thunderbird a satisfactory substitute for Chivas Regal and that their "normal" phobias, anxieties, depressions and substance abuse would increase dramatically.@@@@1@33@@oe@2-2-2013
20105035@unknown@formal@none@1@S@Ruth K. Nelson Cullowhee, N.C.@@@@1@5@@oe@2-2-2013
20106001@unknown@formal@none@1@S@ROGERS COMMUNICATIONS Inc. said it plans to raise 175 million to 180 million Canadian dollars (US$148.9 million to $153.3 million) through a private placement of perpetual preferred shares.@@@@1@28@@oe@2-2-2013
20106002@unknown@formal@none@1@S@Perpetual preferred shares aren't retractable by the holders, the company said.@@@@1@11@@oe@2-2-2013
20106003@unknown@formal@none@1@S@Rogers said the shares will be convertible into Class B shares, but that the company has the option to redeem the shares before a conversion takes place.@@@@1@27@@oe@2-2-2013
20106004@unknown@formal@none@1@S@A spokesman for the Toronto cable television and telecommunications concern said the coupon rate hasn't yet been fixed, but will probably be set at around 8%.@@@@1@26@@oe@2-2-2013
20106005@unknown@formal@none@1@S@He declined to discuss other terms of the issue.@@@@1@9@@oe@2-2-2013
20107001@unknown@formal@none@1@S@The House passed legislation designed to make it easier for the Transportation Department to block airline leveraged buy-outs.@@@@1@18@@oe@2-2-2013
20107002@unknown@formal@none@1@S@The final vote came after the House rejected Republican efforts to weaken the bill and approved two amendments sought by organized labor.@@@@1@22@@oe@2-2-2013
20107003@unknown@formal@none@1@S@The Bush administration has threatened to veto such a bill because of what it views as an undesirable intrusion into the affairs of industry, but the 300-113 vote suggests that supporters have the potential to override a veto.@@@@1@38@@oe@2-2-2013
20107004@unknown@formal@none@1@S@The broader question is where the Senate stands on the issue.@@@@1@11@@oe@2-2-2013
20107005@unknown@formal@none@1@S@While the Senate Commerce Committee has approved legislation similar to the House bill on airline leveraged buy-outs, the measure hasn't yet come to the full floor.@@@@1@26@@oe@2-2-2013
20107006@unknown@formal@none@1@S@Although the legislation would apply to acquisitions involving any major airline, it is aimed at giving the Transportation Department the chance to review in advance transactions financed by large amounts of debt.@@@@1@32@@oe@2-2-2013
20107007@unknown@formal@none@1@S@"The purpose of the bill is to put the brakes on airline acquisitions that would so load a carrier up with debt that it would impede safety or a carrier's ability to compete," Rep. John Paul Hammerschmidt, (R., Ark.) said.@@@@1@40@@oe@2-2-2013
20107008@unknown@formal@none@1@S@The bill, as it was approved by the House Public Works and Transportation Committee, would give the Transportation Department up to 50 days to review any purchase of 15% or more of the stock in an airline.@@@@1@37@@oe@2-2-2013
20107009@unknown@formal@none@1@S@The department would be required to block the buy-out if the acquisition is likely to financially weaken a carrier so that safety would be impaired; its ability to compete would be sharply diminished; it would be put into foreign control; or if the transaction would result in the sale of airline-related assets -- unless selling such assets had an overriding public benefit.@@@@1@62@@oe@2-2-2013
20107010@unknown@formal@none@1@S@The House approved an amendment offered by Rep. Peter DeFazio (D., Ore.) that would, in addition to the previous criteria, also require the department to block the acquisition of an airline if the added debt incurred were likely to result in a reduction in the number of the carrier's employees, or their wages or benefits.@@@@1@55@@oe@2-2-2013
20107011@unknown@formal@none@1@S@Rep. James Traficant (D., Ohio), said the amendment, which passed 271-147, would "let the American worker know that we consider them occasionally."@@@@1@22@@oe@2-2-2013
20107012@unknown@formal@none@1@S@But Rep. Hammerschmidt said that the provision, which he dubbed a "special interest" amendment, was likely to make the bill even more controversial.@@@@1@23@@oe@2-2-2013
20107013@unknown@formal@none@1@S@On Tuesday, the House approved a labor-backed amendment that would require the Transportation Department to reject airline acquisitions if the person seeking to purchase a carrier had run two or more airlines previously that have filed for protection from creditors under Chapter 11 of the federal Bankruptcy Code.@@@@1@48@@oe@2-2-2013
20107014@unknown@formal@none@1@S@The provision, called the "two-time-losers" amendment by its supporters, apparently was aimed at preventing Texas Air Corp. Chairman Frank Lorenzo from attempting to take over another airline.@@@@1@27@@oe@2-2-2013
20108001@unknown@formal@none@1@S@Follow-up report:@@@@1@2@@oe@2-2-2013
20108002@unknown@formal@none@1@S@You now may drop by the Voice of America offices in Washington and read the text of what the Voice is broadcasting to those 130 million people around the world who tune in to it each week.@@@@1@37@@oe@2-2-2013
20108003@unknown@formal@none@1@S@You can even take notes -- extensive notes, for the Voice folks won't look over your shoulder -- about what you read.@@@@1@22@@oe@2-2-2013
20108004@unknown@formal@none@1@S@You can do all this even if you're not a reporter or a researcher or a scholar or a member of Congress.@@@@1@22@@oe@2-2-2013
20108005@unknown@formal@none@1@S@And my newspaper can print the text of those broadcasts.@@@@1@10@@oe@2-2-2013
20108006@unknown@formal@none@1@S@Until the other day, you as an ordinary citizen of this democracy had no right to see what your government was telling your cousins around the world.@@@@1@27@@oe@2-2-2013
20108007@unknown@formal@none@1@S@That was the law.@@@@1@4@@oe@2-2-2013
20108008@unknown@formal@none@1@S@And I apparently had no right to print hither what the Voice was booming to yon.@@@@1@16@@oe@2-2-2013
20108009@unknown@formal@none@1@S@It was censorship.@@@@1@3@@oe@2-2-2013
20108010@unknown@formal@none@1@S@It was outrageous.@@@@1@3@@oe@2-2-2013
20108011@unknown@formal@none@1@S@And it was stupid.@@@@1@4@@oe@2-2-2013
20108012@unknown@formal@none@1@S@The theory was that the Voice is a propaganda agency and this government shouldn't propagandize its own people.@@@@1@18@@oe@2-2-2013
20108013@unknown@formal@none@1@S@That sounds neat, but this government -- any government -- propagandizes its own people every day.@@@@1@16@@oe@2-2-2013
20108014@unknown@formal@none@1@S@Government press releases, speeches, briefings, tours of military facilities, publications are all propaganda of sorts.@@@@1@15@@oe@2-2-2013
20108015@unknown@formal@none@1@S@Propaganda is just information to support a viewpoint, and the beauty of a democracy is that it enables you to hear or read every viewpoint and then make up your own mind on an issue.@@@@1@35@@oe@2-2-2013
20108016@unknown@formal@none@1@S@The restrictions on viewing and dissemination of Voice material were especially absurd: An agency in the information business was not being allowed to inform.@@@@1@24@@oe@2-2-2013
20108017@unknown@formal@none@1@S@In June 1988, I wrote in this space about this issue.@@@@1@11@@oe@2-2-2013
20108018@unknown@formal@none@1@S@Assuming it wasn't one of those columns that you clipped and put on the refrigerator door, I'll review the facts.@@@@1@20@@oe@2-2-2013
20108019@unknown@formal@none@1@S@The Voice of America is a government agency that broadcasts news and views -- some might say propaganda -- in 43 languages to 130 million listeners around the world.@@@@1@29@@oe@2-2-2013
20108020@unknown@formal@none@1@S@It does a first-rate job.@@@@1@5@@oe@2-2-2013
20108021@unknown@formal@none@1@S@Its budget$184 million -- is paid for by you.@@@@1@9@@oe@2-2-2013
20108022@unknown@formal@none@1@S@But a 1948 law barred the "dissemination" of that material in the U.S.@@@@1@13@@oe@2-2-2013
20108023@unknown@formal@none@1@S@The law let scholars, reporters and researchers read texts of VOA material, only at VOA headquarters in Washington, but it barred them from copying texts.@@@@1@25@@oe@2-2-2013
20108024@unknown@formal@none@1@S@And, of course, there's that word "dissemination."@@@@1@7@@oe@2-2-2013
20108025@unknown@formal@none@1@S@How's that again?@@@@1@3@@oe@2-2-2013
20108026@unknown@formal@none@1@S@"You may come by the agency to read but not copy either manually or by photocopying," a Voice official explained when I asked.@@@@1@23@@oe@2-2-2013
20108027@unknown@formal@none@1@S@What if I tune in my short-wave radio, transcribe an editorial or program, and print it in my newspaper?@@@@1@19@@oe@2-2-2013
20108028@unknown@formal@none@1@S@"Nor are you free to reprint such material," I was advised.@@@@1@11@@oe@2-2-2013
20108029@unknown@formal@none@1@S@That sounded a lot like censorship, so after years of letters and conversations that went nowhere, I sued.@@@@1@18@@oe@2-2-2013
20108030@unknown@formal@none@1@S@A couple of weeks ago, I lost the case in federal district court in Des Moines.@@@@1@16@@oe@2-2-2013
20108031@unknown@formal@none@1@S@At least, that's the way it was reported.@@@@1@8@@oe@2-2-2013
20108032@unknown@formal@none@1@S@And, indeed, the lawsuit was dismissed.@@@@1@6@@oe@2-2-2013
20108033@unknown@formal@none@1@S@But I -- I like to think of it in terms of we, all of us -- won the point.@@@@1@20@@oe@2-2-2013
20108034@unknown@formal@none@1@S@For a funny thing happened on the way to the ruling: The United States Information Agency, which runs the Voice, changed its position on three key points.@@@@1@27@@oe@2-2-2013
20108035@unknown@formal@none@1@S@-- The USIA said that, on reflection, of course I could print anything I could get my hands on.@@@@1@19@@oe@2-2-2013
20108036@unknown@formal@none@1@S@The word dissemination, it decided, referred only to itself.@@@@1@9@@oe@2-2-2013
20108037@unknown@formal@none@1@S@"The USIA officially and publicly declared the absolute right of everyone except the USIA to disseminate agency program materials in the United States," my lawyer, the scholarly Mark McCormick of Des Moines, said in a memo pointing out the facts and trying to make me feel good after the press reported that I had lost.@@@@1@55@@oe@2-2-2013
20108038@unknown@formal@none@1@S@The court noted the new USIA position but, just in case, officially found "that Congress did not intend to preclude plaintiffs from disseminating USIA information domestically."@@@@1@26@@oe@2-2-2013
20108039@unknown@formal@none@1@S@-- The USIA said that, on reflection, anyone could view the VOA materials, not just the reporters, scholars, researchers and congressmen who are mentioned in the statute.@@@@1@27@@oe@2-2-2013
20108040@unknown@formal@none@1@S@"The USIA publicly and officially stated in the litigation that all persons are allowed access to the materials, notwithstanding the statutory designations, because the USIA has determined that it will not check the credentials of any person appearing and requesting to see the materials," Mr. McCormick noted.@@@@1@47@@oe@2-2-2013
20108041@unknown@formal@none@1@S@-- And the USIA said that all of us could take extensive notes.@@@@1@13@@oe@2-2-2013
20108042@unknown@formal@none@1@S@"The agency publicly and officially declared in the lawsuit that persons who examine the materials may make notes and, while the agency position is that persons may not take verbatim notes, no one will check to determine what notes a person has taken," Mr. McCormick reported.@@@@1@46@@oe@2-2-2013
20108043@unknown@formal@none@1@S@I had sought, in my suit, the right to print Voice material, which had been denied me, and I had sought a right to receive the information, arguing in effect that a right to print government information isn't very helpful if I have no right to get the information.@@@@1@49@@oe@2-2-2013
20108044@unknown@formal@none@1@S@But the court disagreed.@@@@1@4@@oe@2-2-2013
20108045@unknown@formal@none@1@S@"The First Amendment proscribes the government from passing laws abridging the right to free speech," Judge Donald O'Brien ruled.@@@@1@19@@oe@2-2-2013
20108046@unknown@formal@none@1@S@"The First Amendment does not prescribe a duty upon the government to assure easy access to information for members of the press."@@@@1@22@@oe@2-2-2013
20108047@unknown@formal@none@1@S@So now the situation is this:@@@@1@6@@oe@2-2-2013
20108048@unknown@formal@none@1@S@You have a right to read Voice of America scripts if you don't mind traveling to Washington every week or so and visiting the Voice office during business hours.@@@@1@29@@oe@2-2-2013
20108049@unknown@formal@none@1@S@I have a right to print those scripts if I go there and laboriously -- but no longer surreptitiously -- copy them out in long hand.@@@@1@26@@oe@2-2-2013
20108050@unknown@formal@none@1@S@But neither of us can copy the material on a Xerox machine or have it sent to us.@@@@1@18@@oe@2-2-2013
20108051@unknown@formal@none@1@S@In an era when every government agency has a public-relations machine that sends you stuff whether you want it or not, this does seem odd.@@@@1@25@@oe@2-2-2013
20108052@unknown@formal@none@1@S@Indeed, Judge O'Brien ruled that "it would be easy to conclude that the USIA's position is `inappropriate or even stupid,'" but it's the law.@@@@1@24@@oe@2-2-2013
20108053@unknown@formal@none@1@S@So the next step, I suspect, is to try to get the law changed.@@@@1@14@@oe@2-2-2013
20108054@unknown@formal@none@1@S@We (I assume you're in this with me at this point) need to get three words -- "for examination only" -- eliminated from the law.@@@@1@25@@oe@2-2-2013
20108055@unknown@formal@none@1@S@Section 501 of the United States Information and Educational Exchange Act of 1948 says Voice material shall be available to certain of us (but now, thanks to the USIA's new position, all of us) "for examination only."@@@@1@37@@oe@2-2-2013
20108056@unknown@formal@none@1@S@If those words weren't there, the nice people at the Voice would be able to send you the information or, at the very least, let you photocopy it.@@@@1@28@@oe@2-2-2013
20108057@unknown@formal@none@1@S@This is not a trivial issue.@@@@1@6@@oe@2-2-2013
20108058@unknown@formal@none@1@S@"You have . . . raised important questions which ought to be answered: What does USIA say about America abroad; how do we say it; and how can American taxpayers get the answers to these questions?" a man wrote me a couple of years ago.@@@@1@45@@oe@2-2-2013
20108059@unknown@formal@none@1@S@The man was Charles Z. Wick.@@@@1@6@@oe@2-2-2013
20108060@unknown@formal@none@1@S@At the time, he was director of the@@@@1@8@@oe@2-2-2013
20108061@unknown@formal@none@1@S@He had no answers then.@@@@1@5@@oe@2-2-2013
20108062@unknown@formal@none@1@S@Now there are some.@@@@1@4@@oe@2-2-2013
20108063@unknown@formal@none@1@S@This democracy is suddenly a little more democratic.@@@@1@8@@oe@2-2-2013
20108064@unknown@formal@none@1@S@I feel pretty good about it.@@@@1@6@@oe@2-2-2013
20108065@unknown@formal@none@1@S@Mr. Gartner is editor and co-owner of the Daily Tribune in Ames, Iowa, and president of NBC News in New York.@@@@1@21@@oe@2-2-2013
20109001@unknown@formal@none@1@S@R. Gordon McGovern was forced out as Campbell Soup Co.'s president and chief executive officer, the strongest evidence yet of the power that Dorrance family members intend to wield in reshaping the troubled food company.@@@@1@35@@oe@2-2-2013
20109002@unknown@formal@none@1@S@Herbert M. Baum, the 53-year-old president of the company's Campbell U.S.A. unit, and Edwin L. Harper, 47, the chief financial officer, will run Campbell as a team, dividing responsibilities rather evenly until a successor is named.@@@@1@36@@oe@2-2-2013
20109003@unknown@formal@none@1@S@The board already has been searching for strong outside candidates, including food-industry executives with considerable international experience.@@@@1@17@@oe@2-2-2013
20109004@unknown@formal@none@1@S@Wall Street reacted favorably to Mr. McGovern's departure and its implications.@@@@1@11@@oe@2-2-2013
20109005@unknown@formal@none@1@S@In heavy trading on the New York Stock Exchange, Campbell's shares rose $3.375 to close at $47.125.@@@@1@17@@oe@2-2-2013
20109006@unknown@formal@none@1@S@"The profit motive of the major shareholders has clearly changed for the better," said John McMillin, a food industry analyst for Prudential-Bache in New York.@@@@1@25@@oe@2-2-2013
20109007@unknown@formal@none@1@S@Mr. McGovern was widely seen as sales, and not profit, oriented.@@@@1@11@@oe@2-2-2013
20109008@unknown@formal@none@1@S@"New managers would think a little more like Wall Street," Mr. McMillin added.@@@@1@13@@oe@2-2-2013
20109009@unknown@formal@none@1@S@Some of the surge in the stock's price appeared to be linked to revived takeover speculation, which has contributed to volatility of Campbell shares in recent months.@@@@1@27@@oe@2-2-2013
20109010@unknown@formal@none@1@S@Campbell's international businesses, particularly in the U.K. and Italy, appear to be at the heart of its problems.@@@@1@18@@oe@2-2-2013
20109011@unknown@formal@none@1@S@Growth has fallen short of targets and operating earnings are far below results in U.S. units.@@@@1@16@@oe@2-2-2013
20109012@unknown@formal@none@1@S@For example, Campbell is a distant third in the U.K. frozen foods market, where it recently paid 24 times earnings for Freshbake Foods PLC and wound up with far more capacity than it could use.@@@@1@35@@oe@2-2-2013
20109013@unknown@formal@none@1@S@Similarly, Campbell's Italian biscuit operation, D. Lazzaroni & Co., has been hurt by overproduction and distribution problems.@@@@1@17@@oe@2-2-2013
20109014@unknown@formal@none@1@S@Such problems will require considerable skill to resolve.@@@@1@8@@oe@2-2-2013
20109015@unknown@formal@none@1@S@However, neither Mr. Baum nor Mr. Harper has much international experience.@@@@1@11@@oe@2-2-2013
20109016@unknown@formal@none@1@S@Mr. Baum, a seasoned marketer who is said to have a good rapport with Campbell employees, will have responsibility for all domestic operations except the Pepperidge Farm unit.@@@@1@28@@oe@2-2-2013
20109017@unknown@formal@none@1@S@Mr. Harper, a veteran of several manufacturing companies who joined Campbell in 1986, will take charge of all overseas operations as well as Pepperidge.@@@@1@24@@oe@2-2-2013
20109018@unknown@formal@none@1@S@In an joint interview yesterday, both men said they would like to be the company's next chief executive.@@@@1@18@@oe@2-2-2013
20109019@unknown@formal@none@1@S@Mr. McGovern, 63, had been under intense pressure from the board to boost Campbell's mediocre performance to the level of other food companies.@@@@1@23@@oe@2-2-2013
20109020@unknown@formal@none@1@S@The board is dominated by the heirs of the late John T. Dorrance Jr., who controlled about 58% of Campbell's stock when he died in April.@@@@1@26@@oe@2-2-2013
20109021@unknown@formal@none@1@S@In recent months, Mr. Dorrance's children and other family members have pushed for improved profitability and higher returns on their equity.@@@@1@21@@oe@2-2-2013
20109022@unknown@formal@none@1@S@In August, the company took a $343 million pretax charge against fiscal 1989 earnings when it announced a world-wide restructuring plan.@@@@1@21@@oe@2-2-2013
20109023@unknown@formal@none@1@S@The plan calls for closing at least nine plants and eliminating about 3,600 jobs.@@@@1@14@@oe@2-2-2013
20109024@unknown@formal@none@1@S@But analysts said early results from the reorganization have been disappointing, especially in Europe, and there were signs that the board became impatient.@@@@1@23@@oe@2-2-2013
20109025@unknown@formal@none@1@S@Campbell officials said Mr. McGovern wasn't available yesterday to discuss the circumstances of his departure.@@@@1@15@@oe@2-2-2013
20109026@unknown@formal@none@1@S@The company's prepared statement quoted him as saying, "The CEO succession is well along and I've decided for personal reasons to take early retirement."@@@@1@24@@oe@2-2-2013
20109027@unknown@formal@none@1@S@But people familiar with the agenda of the board's meeting last week in London said Mr. McGovern was fired.@@@@1@19@@oe@2-2-2013
20109028@unknown@formal@none@1@S@Mr. McGovern himself had said repeatedly that he intended to stay on until he reached the conventional retirement age of 65 in October 1991, "unless I get fired."@@@@1@28@@oe@2-2-2013
20109029@unknown@formal@none@1@S@Campbell said Mr. McGovern had withdrawn his name as a candidate for re-election as a director at the annual shareholder meeting, scheduled for Nov. 17.@@@@1@25@@oe@2-2-2013
20109030@unknown@formal@none@1@S@For fiscal 1989, Mr. McGovern received a salary of $877,663.@@@@1@10@@oe@2-2-2013
20109031@unknown@formal@none@1@S@He owns about 45,000 shares of Campbell stock and has options to buy more than 100,000 additional shares.@@@@1@18@@oe@2-2-2013
20109032@unknown@formal@none@1@S@He will be eligible for an annual pension of more than $244,000 with certain other fringe benefits.@@@@1@17@@oe@2-2-2013
20109033@unknown@formal@none@1@S@During Mr. McGovern's nine-year term as president, the company's sales rose to $5.7 billion from $2.8 billion and net income increased to $274 million from $130 million, the statement said.@@@@1@30@@oe@2-2-2013
20109034@unknown@formal@none@1@S@Mr. Baum said he and Mr. Harper both advocated closing some plants as long ago as early 1988.@@@@1@18@@oe@2-2-2013
20109035@unknown@formal@none@1@S@"You've got to make the restructuring work," said Mr. Baum.@@@@1@10@@oe@2-2-2013
20109036@unknown@formal@none@1@S@"You've got to make those savings now."@@@@1@7@@oe@2-2-2013
20109037@unknown@formal@none@1@S@Mr. Harper expressed confidence that he and Mr. Baum can convince the board of their worthiness to run the company.@@@@1@20@@oe@2-2-2013
20109038@unknown@formal@none@1@S@"We look upon this as a great opportunity to prove the fact that we have a tremendous management team," he said.@@@@1@21@@oe@2-2-2013
20109039@unknown@formal@none@1@S@He predicted that the board would give the current duo until early next year before naming a new chief executive.@@@@1@20@@oe@2-2-2013
20109040@unknown@formal@none@1@S@Mr. Baum said the two have orders to "focus on bottom-line profits" and to "take a hard look at our businesses -- what is good, what is not so good."@@@@1@30@@oe@2-2-2013
20109041@unknown@formal@none@1@S@Analysts generally applaud the performance of Campbell U.S.A., the company's largest division, which posted 6% unit sales growth and a 15% improvement in operating profit for fiscal 1989.@@@@1@28@@oe@2-2-2013
20109042@unknown@formal@none@1@S@"The way that we've been managing Campbell U.S.A. can hopefully spread to other areas of the company," Mr. Baum said.@@@@1@20@@oe@2-2-2013
20109043@unknown@formal@none@1@S@In the interview at headquarters yesterday afternoon, both men exuded confidence and seemed to work well together.@@@@1@17@@oe@2-2-2013
20109044@unknown@formal@none@1@S@"You've got two champions sitting right before you," said Mr. Baum.@@@@1@11@@oe@2-2-2013
20109045@unknown@formal@none@1@S@"We play to win.@@@@1@4@@oe@2-2-2013
20110001@unknown@formal@none@1@S@Wednesday, November 1, 1989@@@@1@4@@oe@2-2-2013
20110002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
20110003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
20110004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
20110005@unknown@formal@none@1@S@FEDERAL FUNDS: 9 1/2% high, 8 3/4% low, 8 3/4% near closing bid, 9% offered.@@@@1@15@@oe@2-2-2013
20110006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
20110007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
20110008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
20110009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
20110010@unknown@formal@none@1@S@CALL MONEY: 9 3/4%.@@@@1@4@@oe@2-2-2013
20110011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
20110012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.55% 30 to 44 days; 8.25% 45 to 59 days; 8.45% 60 to 89 days; 8% 90 to 119 days; 7.90% 120 to 149 days; 7.80% 150 to 179 days; 7.55% 180 to 270 days.@@@@1@44@@oe@2-2-2013
20110013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.65% 30 days; 8.575% 60 days; 8.50% 90 days.@@@@1@24@@oe@2-2-2013
20110014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.07% one month; 8.06% two months; 8.04% three months; 7.95% six months; 7.88% one year.@@@@1@18@@oe@2-2-2013
20110015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
20110016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
20110017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.60% one month; 8.55% three months; 8.35% six months.@@@@1@15@@oe@2-2-2013
20110018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.50% 30 days; 8.48% 60 days; 8.30% 90 days; 8.15% 120 days; 8.07% 150 days; 7.95% 180 days.@@@@1@20@@oe@2-2-2013
20110019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
20110020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 3/4% to 8 5/8% one month; 8 13/16% to 8 11/16% two months; 8 3/4% to 8 5/8% three months; 8 5/8% to 8 1/2% four months; 8 1/2% to 8 7/16% five months; 8 1/2% to 8 3/8% six months.@@@@1@45@@oe@2-2-2013
20110021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 3/4% one month; 8 3/4% three months; 8 1/2% six months; 8 7/16% one year.@@@@1@21@@oe@2-2-2013
20110022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
20110023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 9%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
20110024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
20110025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 30, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.78% 13 weeks; 7.62% 26 weeks.@@@@1@35@@oe@2-2-2013
20110026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac): Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@18@@oe@2-2-2013
20110027@unknown@formal@none@1@S@9.82%, standard conventional fixed-rate mortgages; 8.25%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
20110028@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
20110029@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae): Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par) 9.75%, standard conventional fixed-rate mortgages; 8.70%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@34@@oe@2-2-2013
20110030@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
20110031@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.64%.@@@@1@6@@oe@2-2-2013
20110032@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
20111001@unknown@formal@none@1@S@Robert L. Bernstein, chairman and president of Random House Inc., announced his resignation from the publishing house he has run for 23 years.@@@@1@23@@oe@2-2-2013
20111002@unknown@formal@none@1@S@A successor wasn't named, which fueled speculation that Mr. Bernstein may have clashed with S.I. Newhouse Jr., whose family company, Advance Publications Inc., owns Random House.@@@@1@26@@oe@2-2-2013
20111003@unknown@formal@none@1@S@Abrupt departures aren't unheard of within the Newhouse empire.@@@@1@9@@oe@2-2-2013
20111004@unknown@formal@none@1@S@In an interview, Mr. Bernstein said his departure "evolved out of discussions with Si Newhouse and that's the decision I reached."@@@@1@21@@oe@2-2-2013
20111005@unknown@formal@none@1@S@He declined to elaborate, other than to say, "It just seemed the right thing to do at this minute.@@@@1@19@@oe@2-2-2013
20111006@unknown@formal@none@1@S@Sometimes you just go with your gut."@@@@1@7@@oe@2-2-2013
20111007@unknown@formal@none@1@S@Mr. Bernstein said he will stay until Dec. 31 and work with his successor, who is to be named soon.@@@@1@20@@oe@2-2-2013
20111008@unknown@formal@none@1@S@Mr. Newhouse, meanwhile, insisted that he isn't unhappy with Mr. Bernstein or the performance of Random House, the largest trade publishing house in the U.S.@@@@1@25@@oe@2-2-2013
20111009@unknown@formal@none@1@S@The company said the publisher's annual sales volume increased to $800 million from $40 million during Mr. Bernstein's tenure.@@@@1@19@@oe@2-2-2013
20111010@unknown@formal@none@1@S@"Bob has handled the extraordinary growth of the company quite brilliantly," said Mr. Newhouse.@@@@1@14@@oe@2-2-2013
20111011@unknown@formal@none@1@S@"The company is doing well, it's stable, it's got good people.@@@@1@11@@oe@2-2-2013
20111012@unknown@formal@none@1@S@Bob has an agenda and this seemed like the natural time."@@@@1@11@@oe@2-2-2013
20111013@unknown@formal@none@1@S@Publishing officials believe that while Random House has enjoyed spectacular growth and has smoothly integrated many acquisitions in recent years, some of the bigger ones haven't been absorbed so easily.@@@@1@30@@oe@2-2-2013
20111014@unknown@formal@none@1@S@Crown Publishing Group, acquired last year, is said to be turning in disappointing results.@@@@1@14@@oe@2-2-2013
20111015@unknown@formal@none@1@S@As a private company, Random House doesn't report its earnings.@@@@1@10@@oe@2-2-2013
20111016@unknown@formal@none@1@S@Mr. Bernstein, who succeeded Bennett Cerf, has been only the second president of Random House since it was founded in 1925.@@@@1@21@@oe@2-2-2013
20111017@unknown@formal@none@1@S@Speculation on his successor centers on a number of division heads at the house.@@@@1@14@@oe@2-2-2013
20111018@unknown@formal@none@1@S@Possible candidates include Susan Petersen, president of Ballantine/Del Rey/Fawcett, Random House's huge and successful paperback division.@@@@1@16@@oe@2-2-2013
20111019@unknown@formal@none@1@S@Some say Anthony Cheetham, head of a recently acquired British company, Century Hutchinson, could be chosen.@@@@1@16@@oe@2-2-2013
20111020@unknown@formal@none@1@S@There is also speculation that Mr. Newhouse could bring in a powerhouse businessman or another Newhouse family member to run the business side, in combination with a publishing executive like Robert Gottlieb, who left Random House's Alfred A. Knopf to run the New Yorker, also owned by the Newhouse family.@@@@1@50@@oe@2-2-2013
20111021@unknown@formal@none@1@S@Not included on the most-likely-successor list are Joni Evans, recruited two years ago to be publisher of adult trade books for Random House, and Sonny Mehta, president of the prestigious Alfred A. Knopf unit.@@@@1@34@@oe@2-2-2013
20111022@unknown@formal@none@1@S@When Ms. Evans took her job, several important divisions that had reported to her predecessor weren't included partly because she didn't wish to be a full-time administrator.@@@@1@27@@oe@2-2-2013
20111023@unknown@formal@none@1@S@Mr. Mehta is widely viewed as a brilliant editor but a less-than-brilliant administrator and his own departure was rumored recently.@@@@1@20@@oe@2-2-2013
20111024@unknown@formal@none@1@S@Mr. Bernstein, a tall, energetic man who is widely respected as a publishing executive, has spent much of his time in recent years on human rights issues.@@@@1@27@@oe@2-2-2013
20112001@unknown@formal@none@1@S@Congress learned during the Reagan administration that it could intimidate the executive branch by uttering again and again the same seven words: "Provided, that no funds shall be spent. . . ."@@@@1@32@@oe@2-2-2013
20112002@unknown@formal@none@1@S@This phrase once again is found throughout the many appropriations bills now moving through Congress.@@@@1@15@@oe@2-2-2013
20112003@unknown@formal@none@1@S@It signals Congress's attempt, under the pretext of guarding the public purse, to deny the president the funding necessary to execute certain of his duties and prerogatives specified in Article II of the Constitution.@@@@1@34@@oe@2-2-2013
20112004@unknown@formal@none@1@S@This species of congressional action is predicated on an interpretation of the appropriations clause that is erroneous and unconstitutional.@@@@1@19@@oe@2-2-2013
20112005@unknown@formal@none@1@S@The appropriations clause states that "No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law. . . ."@@@@1@24@@oe@2-2-2013
20112006@unknown@formal@none@1@S@The prevailing interpretation of the clause on Capitol Hill is that it gives Congress an omnipresent veto over every conceivable action of the president through the ability to withhold funding.@@@@1@30@@oe@2-2-2013
20112007@unknown@formal@none@1@S@This interpretation was officially endorsed by Congress in 1987 in the Iran-Contra Report.@@@@1@13@@oe@2-2-2013
20112008@unknown@formal@none@1@S@As partisans of congressional power understand, a "power of the purse" so broadly construed would emasculate the presidency and swallow the principle of separation of powers.@@@@1@26@@oe@2-2-2013
20112009@unknown@formal@none@1@S@It is not supported by the text or history of the Constitution.@@@@1@12@@oe@2-2-2013
20112010@unknown@formal@none@1@S@The framers hardly discussed the appropriations clause at the Constitutional Convention of 1787, according to Madison's notes.@@@@1@17@@oe@2-2-2013
20112011@unknown@formal@none@1@S@To the extent they did, their concern was to ensure fiscal accountability.@@@@1@12@@oe@2-2-2013
20112012@unknown@formal@none@1@S@Moreover, the framers believed that the nation needed a unitary executive with the independence and resources to perform the executive functions that the Confederation Congress had performed poorly under the Articles of Confederation.@@@@1@33@@oe@2-2-2013
20112013@unknown@formal@none@1@S@It would contradict that objective if the appropriations clause (technically a limitation on legislative power) could be read as placing the president on Congress's short leash, making the executive consist of the president and every member of Congress.@@@@1@38@@oe@2-2-2013
20112014@unknown@formal@none@1@S@As it went to the conference panel now deliberating, the appropriations bill for the executive office of the president for fiscal 1990 contained some breathtaking attempts by Congress to rewrite the Constitution under the pretext of protecting the public's money.@@@@1@40@@oe@2-2-2013
20112015@unknown@formal@none@1@S@During the coming weeks, President Bush must decide whether to veto the bills containing them -- or, alternatively, to sign these bills into law with a statement declaring their intrusions on executive power to be in violation of Article II, and thus void and severable.@@@@1@45@@oe@2-2-2013
20112016@unknown@formal@none@1@S@The 1990 appropriations legislation attempts to strip the president of his powers to make certain appointments as provided by Article II.@@@@1@21@@oe@2-2-2013
20112017@unknown@formal@none@1@S@Article II places on the president the duty to nominate, "and by and with the Advice and Consent of the Senate" appoint, ambassadors, judges, and other officers of the U.S.@@@@1@30@@oe@2-2-2013
20112018@unknown@formal@none@1@S@It also empowers the president to make recess appointments, without Senate approval: "The President shall have Power to fill up all Vacancies that may happen during the Recess of the Senate, by granting Commissions which shall expire at the End of their next Session."@@@@1@44@@oe@2-2-2013
20112019@unknown@formal@none@1@S@Yet Section 605 of the appropriations bill for the executive office provides: "No part of any appropriation for the current fiscal year contained in this or any other Act shall be paid to any person for the filling of any position for which he or she has been nominated after the Senate has voted not to approve the nomination of said person."@@@@1@62@@oe@2-2-2013
20112020@unknown@formal@none@1@S@Thus, with one brief passage in an appropriations bill, Congress repeals the president's power to make recess appointments under Article II.@@@@1@21@@oe@2-2-2013
20112021@unknown@formal@none@1@S@Section 605 also imposes unconstitutional conditions on the president's ability to nominate candidates of his choosing.@@@@1@16@@oe@2-2-2013
20112022@unknown@formal@none@1@S@The language of the appropriations rider implies that any nomination to any position of a rejected nominee will result in the president being denied funding to pay that person's salary.@@@@1@30@@oe@2-2-2013
20112023@unknown@formal@none@1@S@The president could probably not avoid this restriction by choosing people willing to serve without pay, because the Anti-Deficiency Act prohibits voluntary service to the government.@@@@1@26@@oe@2-2-2013
20112024@unknown@formal@none@1@S@The 1990 appropriations bills also contain a number of "muzzling" provisions that violate the recommendation clause in Article II of the Constitution.@@@@1@22@@oe@2-2-2013
20112025@unknown@formal@none@1@S@Muzzling provisions, which might be called "blindfold laws" as well, prevent the executive branch from even looking at certain policy options, let alone from recommending them to Congress.@@@@1@28@@oe@2-2-2013
20112026@unknown@formal@none@1@S@Such laws violate the provision in Article II that requires the president to make recommendations to Congress, but which gives the president the discretion to select the subject matter of those recommendations.@@@@1@32@@oe@2-2-2013
20112027@unknown@formal@none@1@S@Typically, these laws seek to prevent executive branch officials from inquiring into whether certain federal programs make any economic sense or proposing more market-oriented alternatives to regulations.@@@@1@27@@oe@2-2-2013
20112028@unknown@formal@none@1@S@Probably the most egregious example is a proviso in the appropriations bill for the executive office that prevents the president's Office of Management and Budget from subjecting agricultural marketing orders to any cost-benefit scrutiny.@@@@1@34@@oe@2-2-2013
20112029@unknown@formal@none@1@S@There is something inherently suspect about Congress's prohibiting the executive from even studying whether public funds are being wasted in some favored program or other.@@@@1@25@@oe@2-2-2013
20112030@unknown@formal@none@1@S@Perhaps none of the unconstitutional conditions contained in the appropriations bills for fiscal 1990 better illustrates Congress's attempt to usurp executive power than Section 609 of the executive-office bill: "None of the funds made available pursuant to the provisions of this Act shall be used to implement, administer, or enforce any regulation which has been disapproved pursuant to a resolution of disapproval duly adopted in accordance with the applicable law of the United States."@@@@1@74@@oe@2-2-2013
20112031@unknown@formal@none@1@S@This provision amounts to a legislative veto over the president's execution of the law, since a one-house resolution could be said to be "duly adopted" even though it would require neither bicameral action in Congress nor presentation to the president for his signature or veto.@@@@1@45@@oe@2-2-2013
20112032@unknown@formal@none@1@S@The Supreme Court's decision in INS v. Chadha held that legislative vetoes are unconstitutional.@@@@1@14@@oe@2-2-2013
20112033@unknown@formal@none@1@S@President Bush should veto appropriations acts that contain these kinds of unconstitutional conditions on the president's ability to discharge his duties and exercise his prerogatives.@@@@1@25@@oe@2-2-2013
20112034@unknown@formal@none@1@S@If President Bush fails to do so in his first year, he will invite Congress, for the remainder of his presidency, to rewrite Article II of the Constitution to suit its purposes.@@@@1@32@@oe@2-2-2013
20112035@unknown@formal@none@1@S@What becomes custom in the Bush administration will only become more difficult for future presidents, including Democrats, to undo.@@@@1@19@@oe@2-2-2013
20112036@unknown@formal@none@1@S@President Reagan learned that lesson.@@@@1@5@@oe@2-2-2013
20112037@unknown@formal@none@1@S@By 1987, then-Speaker Jim Wright was discussing arms control in Moscow with Mikhail Gorbachev and then attempting to direct the president, through an appropriations rider, to treat the Soviets as though the Senate had ratified SALT II.@@@@1@37@@oe@2-2-2013
20112038@unknown@formal@none@1@S@If a veto is unworkable because it would leave part of the executive branch unfunded, the president could sign the appropriations bills into law and assert a power of excision, declaring the rider restricting his Article II powers to be unconstitutional and severable.@@@@1@43@@oe@2-2-2013
20112039@unknown@formal@none@1@S@The Constitution does not expressly give the president such power.@@@@1@10@@oe@2-2-2013
20112040@unknown@formal@none@1@S@However, the president does have a duty not to violate the Constitution.@@@@1@12@@oe@2-2-2013
20112041@unknown@formal@none@1@S@The question is whether his only means of defense is the veto.@@@@1@12@@oe@2-2-2013
20112042@unknown@formal@none@1@S@Excision of appropriations riders that trespass on the president's duties and prerogative under Article II would be different from the line-item veto.@@@@1@22@@oe@2-2-2013
20112043@unknown@formal@none@1@S@As discussed in the context of controlling federal spending, the line-item veto is characterized as a way for the president to excise perfectly constitutional provisions in a spending bill that are objectionable merely because they conflict with his policy objectives.@@@@1@40@@oe@2-2-2013
20112044@unknown@formal@none@1@S@The excision of unconstitutional conditions in an appropriations bill would be a power of far more limited applicability.@@@@1@18@@oe@2-2-2013
20112045@unknown@formal@none@1@S@One could argue that it is not an assertion of a item veto at all for the president, by exerting a power of excision, to resist unconstitutional conditions in legislation that violate the separation of powers.@@@@1@36@@oe@2-2-2013
20112046@unknown@formal@none@1@S@There is no downside if the president asserts a right of excision over unconstitutional conditions in the fiscal 1990 appropriations bills.@@@@1@21@@oe@2-2-2013
20112047@unknown@formal@none@1@S@If Congress does nothing, President Bush will have won.@@@@1@9@@oe@2-2-2013
20112048@unknown@formal@none@1@S@If Congress takes the dispute to the Supreme Court (assuming it can establish standing to sue), President Bush might win.@@@@1@20@@oe@2-2-2013
20112049@unknown@formal@none@1@S@In that case, he might receive an opinion from the court that is a vindication of the president's right to perform the duties and exercise the prerogatives the framers thought should be entrusted to the executive.@@@@1@36@@oe@2-2-2013
20112050@unknown@formal@none@1@S@If President Bush loses at the court, it might be disappointing, as Morrison v. Olson was for the Reagan administration.@@@@1@20@@oe@2-2-2013
20112051@unknown@formal@none@1@S@But the presidency would be no worse off than it is now.@@@@1@12@@oe@2-2-2013
20112052@unknown@formal@none@1@S@Moreover, the electorate would have received a valuable civics lesson in how the separation of powers works in practice.@@@@1@19@@oe@2-2-2013
20112053@unknown@formal@none@1@S@As it stands now, Congress presumes after the Reagan administration that the White House will take unconstitutional provisions in appropriations bills lying down.@@@@1@23@@oe@2-2-2013
20112054@unknown@formal@none@1@S@President Bush should set things straight.@@@@1@6@@oe@2-2-2013
20112055@unknown@formal@none@1@S@If he does not, he will help realize Madison's fear in The Federalist No. 48 of a legislature "everywhere extending the sphere of its activity and drawing all powers into its impetuous vortex."@@@@1@33@@oe@2-2-2013
20112056@unknown@formal@none@1@S@Mr. Sidak served as an attorney in the Reagan administration.@@@@1@10@@oe@2-2-2013
20112057@unknown@formal@none@1@S@His longer analysis of executive power and the appropriations clause is to appear in the Duke Law Journal later this year.@@@@1@21@@oe@2-2-2013
20113001@unknown@formal@none@1@S@Despite one of the most devastating droughts on record, net cash income in the Farm Belt rose to a new high of $59.9 billion last year.@@@@1@26@@oe@2-2-2013
20113002@unknown@formal@none@1@S@The previous record was $57.7 billion in 1987, according to the Agriculture Department.@@@@1@13@@oe@2-2-2013
20113003@unknown@formal@none@1@S@Net cash income -- the amount left in farmers' pockets after deducting expenses from gross cash income -- increased in 33 states in 1988, as the drought cut into crop yields and drove up commodity prices, the department's Economic Research Service reported yesterday.@@@@1@43@@oe@2-2-2013
20113004@unknown@formal@none@1@S@Most of those states set farm income records.@@@@1@8@@oe@2-2-2013
20113005@unknown@formal@none@1@S@The worst crop damage occurred in the Midwestern Corn Belt and the northern Great Plains.@@@@1@15@@oe@2-2-2013
20113006@unknown@formal@none@1@S@What saved many farmers from a bad year was the opportunity to reclaim large quantities of grain and other crops that they had "mortgaged" to the government under price-support loan programs.@@@@1@31@@oe@2-2-2013
20113007@unknown@formal@none@1@S@With prices soaring, they were able to sell the reclaimed commodities at "considerable profit," the agency's 240-page report said.@@@@1@19@@oe@2-2-2013
20113008@unknown@formal@none@1@S@In less parched areas, meanwhile, farmers who had little or no loss of production profited greatly from the higher prices.@@@@1@20@@oe@2-2-2013
20113009@unknown@formal@none@1@S@To the surprise of some analysts, net cash income rose in some of the hardest-hit states, including Indiana, Illinois, Nebraska and the Dakotas.@@@@1@23@@oe@2-2-2013
20113010@unknown@formal@none@1@S@Analysts attributed the increases partly to the $4 billion disaster-assistance package enacted by Congress.@@@@1@14@@oe@2-2-2013
20113011@unknown@formal@none@1@S@Last year's record net cash income confirms the farm sector's rebound from the agricultural depression of the early 1980s.@@@@1@19@@oe@2-2-2013
20113012@unknown@formal@none@1@S@It also helps explain the reluctance of the major farm lobbies and many lawmakers to make any significant changes in the 1985 farm program next year.@@@@1@26@@oe@2-2-2013
20113013@unknown@formal@none@1@S@Commodity prices have been rising in recent years, with the farm price index hitting record peaks earlier this year, as the government curtailed production with land-idling programs to reduce price-depressing surpluses.@@@@1@31@@oe@2-2-2013
20113014@unknown@formal@none@1@S@At the same time, export demand for U.S. wheat, corn and other commodities strengthened, said Keith Collins, a department analyst.@@@@1@20@@oe@2-2-2013
20113015@unknown@formal@none@1@S@Farmers also benefited from strong livestock prices, as the nation's cattle inventory dropped close to a 30-year low.@@@@1@18@@oe@2-2-2013
20113016@unknown@formal@none@1@S@"All of these forces came together in 1988 to benefit agriculture," Mr. Collins said.@@@@1@14@@oe@2-2-2013
20113017@unknown@formal@none@1@S@California led the nation with $6.5 billion in net cash income last year, followed by Texas, $3.9 billion; Iowa, $3.4 billion; Florida, $3.1 billion; and Minnesota, $2.7 billion.@@@@1@28@@oe@2-2-2013
20113018@unknown@formal@none@1@S@Iowa and Minnesota were among the few major farm states to log a decline in net cash income.@@@@1@18@@oe@2-2-2013
20113019@unknown@formal@none@1@S@Despite federal disaster relief, the drought of 1988 was a severe financial setback for an estimated 10,000 to 15,000 farmers, according to the department.@@@@1@24@@oe@2-2-2013
20113020@unknown@formal@none@1@S@Many lost their farms.@@@@1@4@@oe@2-2-2013
20113021@unknown@formal@none@1@S@Department economists don't expect 1989 to be as good a year as 1988 was.@@@@1@14@@oe@2-2-2013
20113022@unknown@formal@none@1@S@Indeed, net cash income is likely to fall this year as farm expenses rise and government payments to farmers decline.@@@@1@20@@oe@2-2-2013
20113023@unknown@formal@none@1@S@At the same time, an increase of land under cultivation after the drought has boosted production of corn, soybeans and other commodities, causing a fall in prices that has been only partly cushioned by heavy grain buying by the Soviets.@@@@1@40@@oe@2-2-2013
20113024@unknown@formal@none@1@S@Last year, government payments to farmers slipped to less than $14.5 billion from a record $16.7 billion in 1987.@@@@1@19@@oe@2-2-2013
20113025@unknown@formal@none@1@S@Payments are expected to range between $9 billion and $12 billion this year.@@@@1@13@@oe@2-2-2013
20114001@unknown@formal@none@1@S@After years of struggling, the Los Angeles Herald Examiner will publish its last edition today, shut down by its parent, Hearst Corp., following unsuccessful efforts to sell the venerable newspaper.@@@@1@30@@oe@2-2-2013
20114002@unknown@formal@none@1@S@The demise of the 238,000-circulation Herald, once the nation's largest afternoon newspaper with circulation exceeding 700,000, turns the country's second-largest city into a one-newspaper town, at least in some senses.@@@@1@30@@oe@2-2-2013
20114003@unknown@formal@none@1@S@The Los Angeles Times, with a circulation of more than 1.1 million, dominates the region.@@@@1@15@@oe@2-2-2013
20114004@unknown@formal@none@1@S@But it faces stiff competition in Orange County from the Orange County Register, which sells more than 300,000 copies a day, and in the San Fernando Valley from the Los Angeles Daily News, which sells more than 170,000.@@@@1@38@@oe@2-2-2013
20114005@unknown@formal@none@1@S@Nearby cities such as Pasadena and Long Beach also have large dailies.@@@@1@12@@oe@2-2-2013
20114006@unknown@formal@none@1@S@In July, closely held Hearst, based in New York, put the paper on the block.@@@@1@15@@oe@2-2-2013
20114007@unknown@formal@none@1@S@Speculation had it that the company was asking $100 million for an operation said to be losing about $20 million a year, but others said Hearst might have virtually given the paper away.@@@@1@33@@oe@2-2-2013
20114008@unknown@formal@none@1@S@An attempted buy-out led by John J. McCabe, chief operating officer, never materialized, and a stream of what one staff member dismissed as "tire-kickers and lookee-loos" had filed through since.@@@@1@30@@oe@2-2-2013
20114009@unknown@formal@none@1@S@The prospective buyers included investor Marvin Davis and the Toronto Sun.@@@@1@11@@oe@2-2-2013
20114010@unknown@formal@none@1@S@The death of the Herald, a newsstand paper in a freeway town, was perhaps inevitable.@@@@1@15@@oe@2-2-2013
20114011@unknown@formal@none@1@S@Los Angeles is a sprawling, balkanized newspaper market, and advertisers seemed to feel they could buy space in the mammoth Times, then target a particular area with one of the regional dailies.@@@@1@32@@oe@2-2-2013
20114012@unknown@formal@none@1@S@The Herald was left in limbo.@@@@1@6@@oe@2-2-2013
20114013@unknown@formal@none@1@S@Further, the Herald seemed torn editorially between keeping its old-time Hearst readership -- blue-collar and sports-oriented -- and trying to provide a sprightly, upscale alternative to the sometimes staid Times.@@@@1@30@@oe@2-2-2013
20114014@unknown@formal@none@1@S@Hearst had flirted with a conversion to tabloid format for years but never executed the plan.@@@@1@16@@oe@2-2-2013
20114015@unknown@formal@none@1@S@The Herald joins the Baltimore News-American, which folded, and the Boston Herald-American, which was sold, as cornerstones of the old Hearst newspaper empire abandoned by the company in the 1980s.@@@@1@30@@oe@2-2-2013
20114016@unknown@formal@none@1@S@Many felt Hearst kept the paper alive as long as it did, if marginally, because of its place in family history.@@@@1@21@@oe@2-2-2013
20114017@unknown@formal@none@1@S@Its fanciful offices were designed by architect Julia Morgan, who built the Hearst castle at San Simeon.@@@@1@17@@oe@2-2-2013
20114018@unknown@formal@none@1@S@William Randolph Hearst had kept an apartment in the Spanish Renaissance-style building.@@@@1@12@@oe@2-2-2013
20114019@unknown@formal@none@1@S@Analysts said the Herald's demise doesn't necessarily represent the overall condition of the newspaper industry.@@@@1@15@@oe@2-2-2013
20114020@unknown@formal@none@1@S@"The Herald was a survivor from a bygone age," said J. Kendrick Noble, a media analyst with PaineWebber Inc.@@@@1@19@@oe@2-2-2013
20114021@unknown@formal@none@1@S@"Actually, the long deterioration in daily newspapers shows signs of coming to an end, and the industry looks pretty healthy."@@@@1@20@@oe@2-2-2013
20114022@unknown@formal@none@1@S@Founded as the Examiner in 1903 by Mr. Hearst, the Herald was crippled by a bitter, decade-long strike that began in 1967 and cut circulation in half.@@@@1@27@@oe@2-2-2013
20114023@unknown@formal@none@1@S@Financially, it never recovered; editorially, it had its moments.@@@@1@9@@oe@2-2-2013
20114024@unknown@formal@none@1@S@In 1979, Hearst hired editor James Bellows, who brightened the editorial product considerably.@@@@1@13@@oe@2-2-2013
20114025@unknown@formal@none@1@S@He and his successor, Mary Anne Dolan, restored respect for the editorial product, and though in recent years the paper had been limping along on limited resources, its accomplishments were notable.@@@@1@31@@oe@2-2-2013
20114026@unknown@formal@none@1@S@For example, the Herald consistently beat its much-larger rival on disclosures about Los Angeles Mayor Tom Bradley's financial dealings.@@@@1@19@@oe@2-2-2013
20114027@unknown@formal@none@1@S@The Herald's sports coverage and arts criticism were also highly regarded.@@@@1@11@@oe@2-2-2013
20114028@unknown@formal@none@1@S@Robert J. Danzig, vice president and general manager of Hearst Newspapers, stood up in the paper's newsroom yesterday and announced that no buyers had stepped forward and that the paper would fold, putting more than 730 full-time employees out of work.@@@@1@41@@oe@2-2-2013
20114029@unknown@formal@none@1@S@Hearst said it would provide employees with a placement service and pay them for 60 days.@@@@1@16@@oe@2-2-2013
20114030@unknown@formal@none@1@S@Some long-tenured employees will receive additional benefits, the company said.@@@@1@10@@oe@2-2-2013
20114031@unknown@formal@none@1@S@Hours after the announcement, representatives of the Orange County Register were in a bar across the street recruiting.@@@@1@18@@oe@2-2-2013
20114032@unknown@formal@none@1@S@The reaction in the newsroom was emotional.@@@@1@7@@oe@2-2-2013
20114033@unknown@formal@none@1@S@"I've never seen so many people crying in one place at one time," said Bill Johnson, an assistant city editor.@@@@1@20@@oe@2-2-2013
20114034@unknown@formal@none@1@S@"So Long, L.A." was chosen as the paper's final headline.@@@@1@10@@oe@2-2-2013
20114035@unknown@formal@none@1@S@"I'm doing the main story, and I'm already two beers drunk," said reporter Andy Furillo, whom the Times hired away several years ago but who returned to the Herald out of preference.@@@@1@32@@oe@2-2-2013
20114036@unknown@formal@none@1@S@His wife also works for the paper, as did his father.@@@@1@11@@oe@2-2-2013
20114037@unknown@formal@none@1@S@Outside, a young pressman filling a news box with an extra edition headlined "Herald Examiner Closes" refused to take a reader's quarter.@@@@1@22@@oe@2-2-2013
20114038@unknown@formal@none@1@S@"Forget it," he said as he handed her a paper.@@@@1@10@@oe@2-2-2013
20114039@unknown@formal@none@1@S@"It doesn't make any difference now.@@@@1@6@@oe@2-2-2013
20115001@unknown@formal@none@1@S@Olympia Broadcasting Corp. said it didn't make a $1.64 million semiannual interest payment due yesterday on $23.4 million of senior subordinated debentures.@@@@1@22@@oe@2-2-2013
20115002@unknown@formal@none@1@S@The radio-station owner and programmer said it was trying to obtain additional working capital from its senior secured lenders and other financial institutions.@@@@1@23@@oe@2-2-2013
20115003@unknown@formal@none@1@S@It said it needs to make the payment by Dec. 1 to avoid a default that could lead to an acceleration of the debt.@@@@1@24@@oe@2-2-2013
20115004@unknown@formal@none@1@S@In September, the company said it was seeking offers for its five radio stations in order to concentrate on its programming business.@@@@1@22@@oe@2-2-2013
20116001@unknown@formal@none@1@S@If you'd really rather have a Buick, don't leave home without the American Express card.@@@@1@15@@oe@2-2-2013
20116002@unknown@formal@none@1@S@Or so the slogan might go.@@@@1@6@@oe@2-2-2013
20116003@unknown@formal@none@1@S@American Express Co. and General Motors Corp.'s beleaguered Buick division are joining forces in a promotion aimed at boosting Buick's sales while encouraging broader use of the American Express card.@@@@1@30@@oe@2-2-2013
20116004@unknown@formal@none@1@S@The companies are giving four-day vacations for two to Buick buyers who charge all or part of their down payments on the American Express green card.@@@@1@26@@oe@2-2-2013
20116005@unknown@formal@none@1@S@They have begun sending letters explaining the program, which began Oct. 18 and will end Dec. 18, to about five million card holders.@@@@1@23@@oe@2-2-2013
20116006@unknown@formal@none@1@S@Neither company would disclose the program's cost.@@@@1@7@@oe@2-2-2013
20116007@unknown@formal@none@1@S@Buick approached American Express about a joint promotion because its card holders generally have a "good credit history" and are "good at making payments," says a spokeswoman for the division.@@@@1@30@@oe@2-2-2013
20116008@unknown@formal@none@1@S@American Express also represents the upscale image "we're trying to project," she adds.@@@@1@13@@oe@2-2-2013
20116009@unknown@formal@none@1@S@Buick has been seeking for the past few years to restore its reputation as "the doctor's car" -- a product for upscale professionals.@@@@1@23@@oe@2-2-2013
20116010@unknown@formal@none@1@S@Sales were roughly flat in the 1989 model year compared with a year earlier, though industry sales fell.@@@@1@18@@oe@2-2-2013
20116011@unknown@formal@none@1@S@But since the 1990 model year began Oct. 1, Buick sales have plunged 33%.@@@@1@14@@oe@2-2-2013
20116012@unknown@formal@none@1@S@For American Express, the promotion is part of an effort to broaden the use of its card for retail sales, where the company expects to get much of the future growth in its card business.@@@@1@35@@oe@2-2-2013
20116013@unknown@formal@none@1@S@Traditionally, the card has been used mainly for travel and entertainment expenses.@@@@1@12@@oe@2-2-2013
20116014@unknown@formal@none@1@S@Phillip Riese, an American Express executive vice president, says the promotion with Buick is his company's first with an auto maker, but "hopefully {will be} the first of many" in the company's effort to promote its green card as "the total car-care card."@@@@1@43@@oe@2-2-2013
20116015@unknown@formal@none@1@S@To that end, American Express has been signing up gasoline companies, car repair shops, tire companies and car dealers to accept the card.@@@@1@23@@oe@2-2-2013
20116016@unknown@formal@none@1@S@Many auto dealers now let car buyers charge part or all of their purchase on the American Express card, but few card holders realize this, Mr. Riese says.@@@@1@28@@oe@2-2-2013
20116017@unknown@formal@none@1@S@Until now, however, buyers who wanted to finance part of a car purchase through General Motors Acceptance Corp. couldn't put their down payment on a charge card because of possible conflicts with truth-in-lending and state disclosure laws over finance rates, says a spokesman for the GM finance arm.@@@@1@48@@oe@2-2-2013
20116018@unknown@formal@none@1@S@But GMAC approved the Buick program, he says, because the American Express green card requires payment in full upon billing, and so doesn't carry any finance rates.@@@@1@27@@oe@2-2-2013
20116019@unknown@formal@none@1@S@Mr. Riese says American Express considers GM and Buick "very sophisticated direct-mail marketers," so "by joining forces with them we have managed to maximize our direct-mail capability."@@@@1@27@@oe@2-2-2013
20116020@unknown@formal@none@1@S@In addition, Buick is a relatively respected nameplate among American Express card holders, says an American Express spokeswoman.@@@@1@18@@oe@2-2-2013
20116021@unknown@formal@none@1@S@When the company asked members in a mailing which cars they would like to get information about for possible future purchases, Buick came in fourth among U.S. cars and in the top 10 of all cars, the spokeswoman says.@@@@1@39@@oe@2-2-2013
20116022@unknown@formal@none@1@S@American Express has more than 24 million card holders in the U.S., and over half have the green card.@@@@1@19@@oe@2-2-2013
20116023@unknown@formal@none@1@S@GMAC screened the card-member list for holders more than 30 years old with household incomes over $45,000 who hadn't "missed any payments," the Buick spokeswoman says.@@@@1@26@@oe@2-2-2013
20116024@unknown@formal@none@1@S@Some 3.8 million of the five million who will get letters were preapproved for credit with GMAC.@@@@1@17@@oe@2-2-2013
20116025@unknown@formal@none@1@S@These 3.8 million people also are eligible to get one percentage point off GMAC's advertised finance rates, which start at 6.9% for two-year loan contracts.@@@@1@25@@oe@2-2-2013
20116026@unknown@formal@none@1@S@A spokesman for Visa International's U.S. subsidiary says his company is using promotions to increase use of its cards, but doesn't have plans for a tie-in similar to the American Express-Buick link.@@@@1@32@@oe@2-2-2013
20116027@unknown@formal@none@1@S@Three divisions at American Express are working with Buick on the promotion: the establishment services division, which is responsible for all merchants and companies that accept the card; the travel division; and the merchandise sales division.@@@@1@36@@oe@2-2-2013
20116028@unknown@formal@none@1@S@The vacation packages include hotel accommodations and, in some cases, tours or tickets to local attractions, but not meals.@@@@1@19@@oe@2-2-2013
20116029@unknown@formal@none@1@S@Destinations are Chicago; Honolulu; Las Vegas, Nev.; Los Angeles; Miami Beach, Fla.; New Orleans; New York; Orlando, Fla.; San Francisco; and Washington, D.C.@@@@1@23@@oe@2-2-2013
20116030@unknown@formal@none@1@S@A buyer who chooses to fly to his destination must pay for his own ticket but gets a companion's ticket free if they fly on United Airlines.@@@@1@27@@oe@2-2-2013
20116031@unknown@formal@none@1@S@In lieu of the vacation, buyers can choose among several prizes, including a grandfather clock or a stereo videocassette recorder.@@@@1@20@@oe@2-2-2013
20116032@unknown@formal@none@1@S@Card holders who receive the letter also are eligible for a sweepstakes with Buick cars or a Hawaii vacation as prizes.@@@@1@21@@oe@2-2-2013
20116033@unknown@formal@none@1@S@If they test-drive a Buick, they get an American Express calculator.@@@@1@11@@oe@2-2-2013
20116034@unknown@formal@none@1@S@This isn't Buick's first travel-related promotion.@@@@1@6@@oe@2-2-2013
20116035@unknown@formal@none@1@S@A few years ago, the company offered two round-trip tickets on Trans World Airlines to buyers of its Riviera luxury car.@@@@1@21@@oe@2-2-2013
20116036@unknown@formal@none@1@S@The promotion helped Riviera sales exceed the division's forecast by more than 10%, Buick said at the time.@@@@1@18@@oe@2-2-2013
20117001@unknown@formal@none@1@S@The United Kingdom High Court declared illegal a variety of interest-rate swap transactions and options deals between a London borough council and commercial banks.@@@@1@24@@oe@2-2-2013
20117002@unknown@formal@none@1@S@The ruling could lead to the cancellation of huge bank debts the London Borough of Hammersmith and Fulham ran up after losing heavily on swap transactions.@@@@1@26@@oe@2-2-2013
20117003@unknown@formal@none@1@S@As many as 70 U.K. and international banks stand to lose several hundred million pounds should the decision be upheld and set a precedent for other municipalities.@@@@1@27@@oe@2-2-2013
20117004@unknown@formal@none@1@S@An appeal is expected.@@@@1@4@@oe@2-2-2013
20117005@unknown@formal@none@1@S@In response to the ruling, gilt futures swiftly plunged more than a point yesterday before recovering much of the loss by the end of the session.@@@@1@26@@oe@2-2-2013
20117006@unknown@formal@none@1@S@Gilts, or British government bonds, which also fell sharply initially, retraced some of the losses to end about 3/8 point lower.@@@@1@21@@oe@2-2-2013
20117007@unknown@formal@none@1@S@The council, which is alleged to have engaged in over 600 deals valued at over #6 billion ($9.5 billion), lost millions of pounds from soured swap deals.@@@@1@27@@oe@2-2-2013
20117008@unknown@formal@none@1@S@At one point, Hammersmith is reported to have accounted for as much as 10% of the sterling market in interest-rate swap dealings.@@@@1@22@@oe@2-2-2013
20117009@unknown@formal@none@1@S@When two parties engage in an interest-rate swap, they are betting against each other on future rates.@@@@1@17@@oe@2-2-2013
20117010@unknown@formal@none@1@S@Thus, an institution obligated to make fixed-rate interest payments on debt swaps the payments with another making floating-rate payments.@@@@1@19@@oe@2-2-2013
20117011@unknown@formal@none@1@S@In most of the British transactions, the municipalities agreed to make floating-rate payments to banks, which would make fixed-rate payments.@@@@1@20@@oe@2-2-2013
20117012@unknown@formal@none@1@S@As interest rates rose, municipalities owed the banks more than the banks were paying them.@@@@1@15@@oe@2-2-2013
20117013@unknown@formal@none@1@S@The court hearing began in early October at the request of Anthony Hazell, district auditor for Hammersmith, who argued that local councils aren't vested with constitutional authority to engage in such capital-markets activities.@@@@1@33@@oe@2-2-2013
20117014@unknown@formal@none@1@S@The council backed the audit commission's stand that the swap transactions are illegal.@@@@1@13@@oe@2-2-2013
20117015@unknown@formal@none@1@S@Although the Hammersmith and Fulham council was by far the most active local authority engaging in such capital-markets transactions, the court decision could set a precedent for similar transactions by 77 other local councils.@@@@1@34@@oe@2-2-2013
20117016@unknown@formal@none@1@S@"While this court ruling was only on Hammersmith, it will obviously be very persuasive in other cases of a similar nature," a solicitor representing one of the banks said.@@@@1@29@@oe@2-2-2013
20117017@unknown@formal@none@1@S@Already, 10 local councils have refused to honor fees and payments to banks incurred during various swaps dealings.@@@@1@18@@oe@2-2-2013
20117018@unknown@formal@none@1@S@Other financial institutions involved include Barclays Bank PLC, Midland Bank PLC, Security Pacific Corp., Chemical Banking Corp.'s Chemical Bank, Citicorp's Citibank and Mitsubishi Finance International.@@@@1@25@@oe@2-2-2013
20117019@unknown@formal@none@1@S@If the banks exhaust all avenues of appeal, it is possible that they would seek to have the illegality ruling work both ways, some market sources said.@@@@1@27@@oe@2-2-2013
20117020@unknown@formal@none@1@S@Banks could seek to recover payments to local authorities in instances where the banks made net payments to councils.@@@@1@19@@oe@2-2-2013
20117021@unknown@formal@none@1@S@Officials from the various banks involved are expected to meet during the next few days to consider other arrangements with local authorities that could be questionable.@@@@1@26@@oe@2-2-2013
20117022@unknown@formal@none@1@S@The banks have 28 days to file an appeal against the ruling and are expected to do so shortly.@@@@1@19@@oe@2-2-2013
20118001@unknown@formal@none@1@S@In the aftermath of the stock market's gut-wrenching 190-point drop on Oct. 13, Kidder, Peabody & Co.'s 1,400 stockbrokers across the country began a telephone and letter-writing campaign aimed at quashing the country's second-largest program trader.@@@@1@36@@oe@2-2-2013
20118002@unknown@formal@none@1@S@The target of their wrath?@@@@1@5@@oe@2-2-2013
20118003@unknown@formal@none@1@S@Their own employer, Kidder Peabody.@@@@1@5@@oe@2-2-2013
20118004@unknown@formal@none@1@S@Since October's minicrash, Wall Street has been shaken by an explosion of resentment against program trading, the computer-driven, lightning-fast trades of huge baskets of stocks and futures that can send stock prices reeling in minutes.@@@@1@35@@oe@2-2-2013
20118005@unknown@formal@none@1@S@But the heated fight over program trading is about much more than a volatile stock market.@@@@1@16@@oe@2-2-2013
20118006@unknown@formal@none@1@S@The real battle is over who will control that market and reap its huge rewards.@@@@1@15@@oe@2-2-2013
20118007@unknown@formal@none@1@S@Program trading itself, according to many academics who have studied it, is merely caught in the middle of this battle, unfairly labeled as the evil driving force of the marketplace.@@@@1@30@@oe@2-2-2013
20118008@unknown@formal@none@1@S@The evidence indicates that program trading didn't, in fact, cause the market's sharp fall on Oct. 13, though it may have exacerbated it.@@@@1@23@@oe@2-2-2013
20118009@unknown@formal@none@1@S@On one side of this power struggle stand the forces in ascendency on Wall Street -- the New Guard -- consisting of high-tech computer wizards at the major brokerage firms, their pension fund clients with immense pools of money, and the traders at the fast-growing Chicago futures exchanges.@@@@1@48@@oe@2-2-2013
20118010@unknown@formal@none@1@S@These are the main proponents of program trading.@@@@1@8@@oe@2-2-2013
20118011@unknown@formal@none@1@S@Defending their ramparts are Wall Street's Old Guard -- the traditional, stock-picking money managers, tens of thousands of stock brokers, the New York Stock Exchange's listed companies and the clannish floor traders, known as specialists, who make markets in their stocks.@@@@1@41@@oe@2-2-2013
20118012@unknown@formal@none@1@S@So far, Wall Street's Old Guard seems to be winning the program-trading battle, successfully mobilizing public and congressional opinion to bludgeon their tormentors.@@@@1@23@@oe@2-2-2013
20118013@unknown@formal@none@1@S@The Chicago Mercantile Exchange, a major futures marketplace, yesterday announced the addition of another layer of trading halts designed to slow program traders during a rapidly falling stock market, and the Big Board is expected today to approve some additional restrictions on program trading.@@@@1@44@@oe@2-2-2013
20118014@unknown@formal@none@1@S@Stung by charges that their greed is turning the stock market into a gigantic crapshoot, almost all the big investment banking houses have abandoned index arbitrage, a common form of program trading, for their own accounts in the past few days.@@@@1@41@@oe@2-2-2013
20118015@unknown@formal@none@1@S@A few, such as giant Merrill Lynch & Co., now refuse even to do index arbitrage trades for clients.@@@@1@19@@oe@2-2-2013
20118016@unknown@formal@none@1@S@The Old Guard's assault on program trading and its practitioners has been fierce and broad-based, in part because some Old Guard members feel their very livelihood is at stake.@@@@1@29@@oe@2-2-2013
20118017@unknown@formal@none@1@S@Some, such as traditional money manager Neuberger & Berman, have taken out national newspaper advertisements demanding that market regulators "stop the numbers racket on Wall Street."@@@@1@26@@oe@2-2-2013
20118018@unknown@formal@none@1@S@Big Board stock specialists, in a bold palace revolt, began shortly after Oct. 13 to telephone the corporate executives of the companies whose stock is listed on the Big Board to have them pressure the exchange to ban program trading.@@@@1@40@@oe@2-2-2013
20118019@unknown@formal@none@1@S@Charles Wohlstetter, the chairman of Contel Corp. who is rallying other CEOs to the anti-program trading cause, says he has received "countless" letters offering support.@@@@1@25@@oe@2-2-2013
20118020@unknown@formal@none@1@S@"They said universally, without a single exception: Don't even compromise.@@@@1@10@@oe@2-2-2013
20118021@unknown@formal@none@1@S@Kill it," he says.@@@@1@4@@oe@2-2-2013
20118022@unknown@formal@none@1@S@Wall Street's New Guard isn't likely to take all this lying down for long, however.@@@@1@15@@oe@2-2-2013
20118023@unknown@formal@none@1@S@Its new products and trading techniques have been highly profitable.@@@@1@10@@oe@2-2-2013
20118024@unknown@formal@none@1@S@Program trading money managers have gained control over a big chunk of the invested funds in this country, and the pressures on such money managers to produce consistent profits has wedded them to the ability to move rapidly in and out the market that program trading gives them.@@@@1@48@@oe@2-2-2013
20118025@unknown@formal@none@1@S@What's more, the last time major Wall Street firms said they were getting out of program trading -- in the aftermath of the 1987 crash -- they waited a few months and then sneaked back into it.@@@@1@37@@oe@2-2-2013
20118026@unknown@formal@none@1@S@Even some members of the Old Guard, despite their current advantage, seem to be conceding that the future belongs with the New Guard.@@@@1@23@@oe@2-2-2013
20118027@unknown@formal@none@1@S@Last week, Robert M. Bradley, one of the Big Board's most respected floor traders and head of a major traders' organization, surrendered.@@@@1@22@@oe@2-2-2013
20118028@unknown@formal@none@1@S@He sold his exchange seat and wrote a bitter letter to Big Board Chairman John J. Phelan Jr. in which he said the Big Board is too focused on machines, rather than people.@@@@1@33@@oe@2-2-2013
20118029@unknown@formal@none@1@S@He said the exchange is "headed for a real crisis" if program trading isn't curbed.@@@@1@15@@oe@2-2-2013
20118030@unknown@formal@none@1@S@"I do not want my money invested in what I consider as nothing more than a casino," Mr. Bradley wrote.@@@@1@20@@oe@2-2-2013
20118031@unknown@formal@none@1@S@The battle has turned into a civil war at some firms and organizations, causing internal contradictions and pitting employee against employee.@@@@1@21@@oe@2-2-2013
20118032@unknown@formal@none@1@S@At Kidder, a unit of General Electric Co., and other big brokerage firms, stockbrokers battle their own firm's program traders a few floors away.@@@@1@24@@oe@2-2-2013
20118033@unknown@formal@none@1@S@Corporations like Contel denounce program trading, yet Contel has in the past hired pension fund managers like Bankers Trust Co. that are also big program traders.@@@@1@26@@oe@2-2-2013
20118034@unknown@formal@none@1@S@The Big Board -- the nation's premier stock exchange -- is sharply divided between its floor traders and its top executives.@@@@1@21@@oe@2-2-2013
20118035@unknown@formal@none@1@S@Its entrenched 49 stock specialists firms are fighting tooth and nail against programs.@@@@1@13@@oe@2-2-2013
20118036@unknown@formal@none@1@S@But the Big Board's leadership -- over the specialists' protests -- two weeks ago began trading a new stock "basket" product designed to facilitate program trading.@@@@1@26@@oe@2-2-2013
20118037@unknown@formal@none@1@S@"A lot of people would like to go back to 1970," before program trading, Mr. Phelan said this week.@@@@1@19@@oe@2-2-2013
20118038@unknown@formal@none@1@S@"I would like to go back to 1970.@@@@1@8@@oe@2-2-2013
20118039@unknown@formal@none@1@S@But we are not going back to 1970."@@@@1@8@@oe@2-2-2013
20118040@unknown@formal@none@1@S@Again and again, program-trading's critics raise the "casino" theme.@@@@1@9@@oe@2-2-2013
20118041@unknown@formal@none@1@S@They say greedy market manipulators have made a shambles of the nation's free-enterprise system, turning the stock market into a big gambling den, with the odds heavily stacked against the small investor.@@@@1@32@@oe@2-2-2013
20118042@unknown@formal@none@1@S@"The public didn't come to the market to play a game; they can go to Off-Track Betting for that," says A. Brean Murray, chairman of Brean Murray, Foster Securities, a traditional money management firm.@@@@1@34@@oe@2-2-2013
20118043@unknown@formal@none@1@S@The program traders, on the other hand, portray old-fashioned stock pickers as the Neanderthals of the industry.@@@@1@17@@oe@2-2-2013
20118044@unknown@formal@none@1@S@Critics like Mr. Murray "are looking for witches, and people who use computers to trade are a convenient boogieman," says J. Thomas Allen, president of Advanced Investment Management Inc., a Pittsburgh firm that runs a $200 million fund that uses index arbitrage.@@@@1@42@@oe@2-2-2013
20118045@unknown@formal@none@1@S@"Just a blind fear of the unknown is causing them to beg the regulators for protection."@@@@1@16@@oe@2-2-2013
20118046@unknown@formal@none@1@S@For all the furor, there is nothing particularly complex about the concept of stock-index arbitrage, the most controversial type of computer-assisted program trading.@@@@1@23@@oe@2-2-2013
20118047@unknown@formal@none@1@S@Like other forms of arbitrage, it merely seeks to take advantage of momentary discrepancies in the price of a single product -- in this case, a basket of stocks -- in different markets -- in this case the New York Stock Exchange and the Chicago futures markets.@@@@1@47@@oe@2-2-2013
20118048@unknown@formal@none@1@S@That divergence is what stock index traders seek.@@@@1@8@@oe@2-2-2013
20118049@unknown@formal@none@1@S@When it occurs, the traders place orders via computers to buy the basket of stocks (such as the 500 stocks that constitute the Standard & Poor's 500 stock index) in whichever market is cheaper and sell them in the more expensive market; they lock in the difference in price as profit.@@@@1@51@@oe@2-2-2013
20118050@unknown@formal@none@1@S@Such program trades, which can involve the purchase or sale of millions of dollars of stock, occur in a matter of seconds.@@@@1@22@@oe@2-2-2013
20118051@unknown@formal@none@1@S@A program trade of $5 million of stock typically earns a razor-thin profit of $25,000.@@@@1@15@@oe@2-2-2013
20118052@unknown@formal@none@1@S@To keep program-trading units profitable in the eyes of senior brokerage executives, traders must seize every opportunity their computers find.@@@@1@20@@oe@2-2-2013
20118053@unknown@formal@none@1@S@The speed with which such program trades take place and the volatile price movements they can cause are what program trading critics profess to despise.@@@@1@25@@oe@2-2-2013
20118054@unknown@formal@none@1@S@"If you continue to do this, the investor becomes frightened -- any investor: the odd lotter, mutual funds and pension funds," says Larry Zicklin, managing partner at Neuberger & Berman.@@@@1@30@@oe@2-2-2013
20118055@unknown@formal@none@1@S@But many experts and traders say that program trading isn't the main reason for stock-market gyrations.@@@@1@16@@oe@2-2-2013
20118056@unknown@formal@none@1@S@"I have not seen one iota of evidence" to support restrictions on program trading, says a Vanderbilt University finance professor, Hans Stoll, an authority on the subject.@@@@1@27@@oe@2-2-2013
20118057@unknown@formal@none@1@S@Says the Big Board's Mr. Phelan, "Volatility is greater than program trading."@@@@1@12@@oe@2-2-2013
20118058@unknown@formal@none@1@S@The Oct. 13 plunge was triggered not by program traders, but by news of the unraveling of the $6.79 billion buy-out of UAL Corp.@@@@1@24@@oe@2-2-2013
20118059@unknown@formal@none@1@S@Unable to unload UAL and other airline shares, takeover-stock speculators, or risk arbitragers, dumped every blue-chip stock they had.@@@@1@19@@oe@2-2-2013
20118060@unknown@formal@none@1@S@While program trades swiftly kicked in, a "circuit breaker" that halted trading in stock futures in Chicago made some program trading impossible.@@@@1@22@@oe@2-2-2013
20118061@unknown@formal@none@1@S@Susan Del Signore, head trader at Travelers Investment Management Co., says critics are ignoring "the role the {takeover stock} speculator is taking in the market as a source of volatility."@@@@1@30@@oe@2-2-2013
20118062@unknown@formal@none@1@S@Many arbs are "overleveraged," she says, and they "have to sell when things look like they fall apart."@@@@1@18@@oe@2-2-2013
20118063@unknown@formal@none@1@S@Like virtually everything on Wall Street, the program-trading battle is over money, and the traditionalists have been losing out on bundles of it to the New Guard in recent years.@@@@1@30@@oe@2-2-2013
20118064@unknown@formal@none@1@S@Take the traditional money managers, or "stock pickers," as they are derisively known among the computer jockeys.@@@@1@17@@oe@2-2-2013
20118065@unknown@formal@none@1@S@Traditional stock managers like to charge 50 cents to 75 cents for every $100 they manage for big institutional investors, and higher fees for smaller investors.@@@@1@26@@oe@2-2-2013
20118066@unknown@formal@none@1@S@Yet many such managers consistently fail to even keep up with, much less beat, the returns of standard benchmarks like the S&P@@@@1@22@@oe@2-2-2013
20118067@unknown@formal@none@1@S@Not surprisingly, old-style money managers have been losing clients to giant stock-index funds that use computers to juggle portfolios so they mirror the S&P 500.@@@@1@25@@oe@2-2-2013
20118068@unknown@formal@none@1@S@The indexers charge only a few pennies per $100 managed.@@@@1@10@@oe@2-2-2013
20118069@unknown@formal@none@1@S@Today, about $200 billion, or 20% of all pension-fund stock investments, is held by index funds.@@@@1@16@@oe@2-2-2013
20118070@unknown@formal@none@1@S@The new Wall Street of computers and automated trading threatens to make dinosaurs of the 49 Big Board stock-specialist firms.@@@@1@20@@oe@2-2-2013
20118071@unknown@formal@none@1@S@These small but influential floor brokers long have earned fat returns of 30% to 40% a year on their capital, by virtue of their monopoly in making markets in individual stocks.@@@@1@31@@oe@2-2-2013
20118072@unknown@formal@none@1@S@The specialists see any step to electronic trading as a death knell.@@@@1@12@@oe@2-2-2013
20118073@unknown@formal@none@1@S@And they believe the Big Board, under Mr. Phelan, has abandoned their interest.@@@@1@13@@oe@2-2-2013
20118074@unknown@formal@none@1@S@The son of a specialist and once one himself, Mr. Phelan has nonetheless been striving -- with products like the new stock basket that his former colleagues dislike so much -- to keep index funds and other program traders from taking their business to overseas markets.@@@@1@46@@oe@2-2-2013
20118075@unknown@formal@none@1@S@Meanwhile, specialists' trading risks have skyrocketed as a result of stock-market volatility.@@@@1@12@@oe@2-2-2013
20118076@unknown@formal@none@1@S@"When the sell programs hit, you can hear the order printers start to go" on the Big Board trading floor, says one specialist there.@@@@1@24@@oe@2-2-2013
20118077@unknown@formal@none@1@S@"The buyers walk away, and the specialist is left alone" as the buyer of last resort for his stable of stocks, he contends.@@@@1@23@@oe@2-2-2013
20118078@unknown@formal@none@1@S@No one is more unhappy with program trading than the nation's stockbrokers.@@@@1@12@@oe@2-2-2013
20118079@unknown@formal@none@1@S@They are still trying to lure back small investors spooked by the 1987 stock-market crash and the market's swings since then.@@@@1@21@@oe@2-2-2013
20118080@unknown@formal@none@1@S@"Small investors are absolutely dismayed that Wall Street is stacking the deck against them, and these wide swings are scaring them to death," says Raymond A. Mason, chairman of regional broker Legg Mason Inc. in Baltimore.@@@@1@36@@oe@2-2-2013
20118081@unknown@formal@none@1@S@Stockbrokers' business and pay has been falling.@@@@1@7@@oe@2-2-2013
20118082@unknown@formal@none@1@S@Last year, the average broker earned $71,309, 24% lower than in 1987.@@@@1@12@@oe@2-2-2013
20118083@unknown@formal@none@1@S@Corporate executives resent that their company's stock has been transformed into a nameless piece of a stock-index basket.@@@@1@18@@oe@2-2-2013
20118084@unknown@formal@none@1@S@Index traders who buy all 500 stocks in the S&P 500 often don't even know what the companies they own actually do, complains Andrew Sigler, chairman of Champion International Corp.@@@@1@30@@oe@2-2-2013
20118085@unknown@formal@none@1@S@"Do you make sweatshirts or sparkplugs?@@@@1@6@@oe@2-2-2013
20118086@unknown@formal@none@1@S@Oh, you're in the paper business," is one reaction Mr. Sigler says he's gotten from his big institutional shareholders.@@@@1@19@@oe@2-2-2013
20118087@unknown@formal@none@1@S@By this September, program traders were doing a record 13.8% of the Big Board's average daily trading volume.@@@@1@18@@oe@2-2-2013
20118088@unknown@formal@none@1@S@Among the top practitioners were Wall Street blue bloods: Morgan Stanley & Co., Kidder Peabody, Merrill Lynch, Salomon Brothers Inc. and PaineWebber Group Inc.@@@@1@24@@oe@2-2-2013
20118089@unknown@formal@none@1@S@But then came Oct. 13 and the negative publicity orchestrated by the Old Guard, particularly against index arbitrage.@@@@1@18@@oe@2-2-2013
20118090@unknown@formal@none@1@S@The indexers' strategy for the moment is to hunker down and let the furor die.@@@@1@15@@oe@2-2-2013
20118091@unknown@formal@none@1@S@"There's a lynch-mob psychology right now," says the top program-trading official at a Wall Street firm.@@@@1@16@@oe@2-2-2013
20118092@unknown@formal@none@1@S@"Wall Street's cash cow has been gored, but I don't think anyone has proven that index arbitrage is the problem."@@@@1@20@@oe@2-2-2013
20118093@unknown@formal@none@1@S@Too much money is at stake for program traders to give up.@@@@1@12@@oe@2-2-2013
20118094@unknown@formal@none@1@S@For example, stock-index futures began trading in Chicago in 1982, and within two years they were the fastest-growing futures contract ever launched.@@@@1@22@@oe@2-2-2013
20118095@unknown@formal@none@1@S@Stock futures trading has minted dozens of millionaires in their 20s and 30s.@@@@1@13@@oe@2-2-2013
20118096@unknown@formal@none@1@S@Now, on a good day, Chicago's stock-index traders trade more dollars worth of stock futures than the Big Board trades in stock.@@@@1@22@@oe@2-2-2013
20118097@unknown@formal@none@1@S@Now the stage is set for the battle to play out.@@@@1@11@@oe@2-2-2013
20118098@unknown@formal@none@1@S@The anti-programmers are getting some helpful thunder from Congress.@@@@1@9@@oe@2-2-2013
20118099@unknown@formal@none@1@S@Program traders' "power to create total panic is so great that they can't be allowed to have their way," says Rep. Edward Markey, a Massachusetts Democrat.@@@@1@26@@oe@2-2-2013
20118100@unknown@formal@none@1@S@"We have to have a system that says to those largest investors:@@@@1@12@@oe@2-2-2013
20118101@unknown@formal@none@1@S@`Sit down!@@@@1@2@@oe@2-2-2013
20118102@unknown@formal@none@1@S@You will not panic,@@@@1@4@@oe@2-2-2013
20118103@unknown@formal@none@1@S@you will not put the financial system in jeopardy.'"@@@@1@9@@oe@2-2-2013
20118104@unknown@formal@none@1@S@But the prospects for legislation that targets program trading is unlikely anytime soon.@@@@1@13@@oe@2-2-2013
20118105@unknown@formal@none@1@S@Many people, including the Big Board, think that it's too late to put the genie back in the bottle.@@@@1@19@@oe@2-2-2013
20118106@unknown@formal@none@1@S@The Big Board's directors meet today to approve some program-trading restrictions, but a total ban isn't being considered, Big Board officials say.@@@@1@22@@oe@2-2-2013
20118107@unknown@formal@none@1@S@"You're not going to stop the idea of trading a basket of stocks," says Vanderbilt's Prof. Stoll. "@@@@1@18@@oe@2-2-2013
20118108@unknown@formal@none@1@S@Program trading is here to stay, and computers are here to stay, and we just need to understand it."@@@@1@19@@oe@2-2-2013
20118109@unknown@formal@none@1@S@Short of a total ban, some anti-programmers have proposed several middle-ground reforms, which they say would take away certain advantages program traders currently enjoy in the marketplace that other investors don't.@@@@1@31@@oe@2-2-2013
20118110@unknown@formal@none@1@S@One such proposal regarding stock-index futures is an increase in the margin requirement -- or the "good-faith" payment of cash needed to trade them -- to about the same level as the margin requirement for stocks.@@@@1@36@@oe@2-2-2013
20118111@unknown@formal@none@1@S@Currently, margins on stock futures purchases are much lower -- roughly 7% compared with 50% for stocks -- making the futures market much faster and potentially more speculative.@@@@1@28@@oe@2-2-2013
20118112@unknown@formal@none@1@S@Program trading critics also want the Federal Reserve Board, rather than the futures industry, to set such margins.@@@@1@18@@oe@2-2-2013
20118113@unknown@formal@none@1@S@Futures traders respond that low margins help keep their markets active.@@@@1@11@@oe@2-2-2013
20118114@unknown@formal@none@1@S@Higher margins would chase away dozens of smaller traders who help larger traders buy and sell, they say.@@@@1@18@@oe@2-2-2013
20118115@unknown@formal@none@1@S@Another proposed reform is to have program traders answer to an "uptick rule"a reform instituted after the Great Crash of 1929 that protects against stocks being relentlessly beaten downward by those seeking to profit from lower prices, namely short sellers.@@@@1@40@@oe@2-2-2013
20118116@unknown@formal@none@1@S@The Big Board's uptick rule prevents the short sale of a stock when the stock is falling in price.@@@@1@19@@oe@2-2-2013
20118117@unknown@formal@none@1@S@But in 1986, program traders received what amounted to an exemption from the uptick rule in certain situations, to make it easier to link the stock and futures markets.@@@@1@29@@oe@2-2-2013
20118118@unknown@formal@none@1@S@A reinstatement of the uptick rule for program traders would slow their activity considerably.@@@@1@14@@oe@2-2-2013
20118119@unknown@formal@none@1@S@Program traders argue that a reinstatement of the rule would destroy the "pricing efficiency" of the futures and stock markets.@@@@1@20@@oe@2-2-2013
20118120@unknown@formal@none@1@S@James A. White contributed to this article.@@@@1@7@@oe@2-2-2013
20118121@unknown@formal@none@1@S@Fundamentalists Jihad@@@@1@2@@oe@2-2-2013
20118122@unknown@formal@none@1@S@Big Board Chairman John Phelan said yesterday that he could support letting federal regulators suspend program trading during wild stock-price swings.@@@@1@21@@oe@2-2-2013
20118123@unknown@formal@none@1@S@Thus the band-wagon psychology of recent days picks up new impetus.@@@@1@11@@oe@2-2-2013
20118124@unknown@formal@none@1@S@Index arbitrage is a common form of program trading.@@@@1@9@@oe@2-2-2013
20118125@unknown@formal@none@1@S@As usually practiced it takes advantage of a rather basic concept: Two separate markets in different locations, trading basically the same widgets, can't trade them for long at prices that are widely different.@@@@1@33@@oe@2-2-2013
20118126@unknown@formal@none@1@S@In index arbitrage, the widget is the S&P 500, and its price is constantly compared between the futures market in Chicago and the stock markets largely in New York.@@@@1@29@@oe@2-2-2013
20118127@unknown@formal@none@1@S@To profit from an index-arbitrage opportunity, someone who owns the S&P 500 widget in New York must sell it and replace it with a cheaper S&P 500 widget in Chicago.@@@@1@30@@oe@2-2-2013
20118128@unknown@formal@none@1@S@If the money manager performing this service is being paid by his clients to match or beat the return of the S&P 500 index, he is likely to remain fully invested at all times.@@@@1@34@@oe@2-2-2013
20118129@unknown@formal@none@1@S@(Few, if any, index-fund managers will risk leveraging performance by owning more than 100% exposure to stocks, and equally few will want to own less than a 100% position should stocks rise.)@@@@1@32@@oe@2-2-2013
20118130@unknown@formal@none@1@S@By constantly seeking to own the cheapest widget, index-arbitrage traders hope to add between 1% and 3% to the annual return of the S&P 500.@@@@1@25@@oe@2-2-2013
20118131@unknown@formal@none@1@S@That represents a very thin "excess" return, certainly far less than what most fundamental stock pickers claim to seek as their performance objective.@@@@1@23@@oe@2-2-2013
20118132@unknown@formal@none@1@S@The fact that a vast majority of fundamentalist money managers fail to beat the S&P 500 may contribute to the hysteria surrounding the issue.@@@@1@24@@oe@2-2-2013
20118133@unknown@formal@none@1@S@As more managers pursue the index-arbitrage strategy, these small opportunities between markets will be reduced and, eventually, eliminated.@@@@1@18@@oe@2-2-2013
20118134@unknown@formal@none@1@S@The current opportunities arise because the process for executing a buy or sell order in the actual stocks that make up the S&P 500 is more cumbersome than transacting in the futures market.@@@@1@33@@oe@2-2-2013
20118135@unknown@formal@none@1@S@The New York Stock Exchange's attempt to introduce a new portfolio basket is evidence of investors' desires to make fast and easy transactions of large numbers of shares.@@@@1@28@@oe@2-2-2013
20118136@unknown@formal@none@1@S@So if index arbitrage is simply taking advantage of thin inefficiencies between two markets for the same widget, how did "program trading" evolve into the evil creature that is evoking the curses of so many observers?@@@@1@36@@oe@2-2-2013
20118137@unknown@formal@none@1@S@All arguments against program trading, even those pressed without fact, conclude with three expected results after "reforms" are implemented: 1) reduced volatility, 2) a long-term investment focus, and 3) a level playing field for the small investor.@@@@1@37@@oe@2-2-2013
20118138@unknown@formal@none@1@S@But many of these reforms are unneeded, even harmful.@@@@1@9@@oe@2-2-2013
20118139@unknown@formal@none@1@S@Reducing volatility.@@@@1@2@@oe@2-2-2013
20118140@unknown@formal@none@1@S@An index-arbitrage trade is never executed unless there is sufficient difference between the markets in New York and Chicago to cover all transaction costs.@@@@1@24@@oe@2-2-2013
20118141@unknown@formal@none@1@S@Arbitrage doesn't cause volatility; it responds to it.@@@@1@8@@oe@2-2-2013
20118142@unknown@formal@none@1@S@Think about what causes the difference in prices between the two markets for S&P 500 stocks -- usually it is large investors initiating a buy or sell in Chicago.@@@@1@29@@oe@2-2-2013
20118143@unknown@formal@none@1@S@A large investor will likely cause the futures market to decline when he sells his futures.@@@@1@16@@oe@2-2-2013
20118144@unknown@formal@none@1@S@Arbitrage simply transfers his selling pressure from Chicago to New York, while functioning as a buyer in Chicago.@@@@1@18@@oe@2-2-2013
20118145@unknown@formal@none@1@S@The start of the whole process is the key-someone must fundamentally increase or decrease his ownership in widgets to make widget prices move.@@@@1@23@@oe@2-2-2013
20118146@unknown@formal@none@1@S@Why does this large hypothetical seller trade in Chicago instead of New York?@@@@1@13@@oe@2-2-2013
20118147@unknown@formal@none@1@S@Perhaps he is willing to sacrifice to the arbitrage trader some small profit in order to get quick and certain execution of his large trade.@@@@1@25@@oe@2-2-2013
20118148@unknown@formal@none@1@S@In a competitive market, this investor has many ways to execute his transactions, and he will have more alternatives (both foreign and domestic) if his volume is profitable for an exchange to handle.@@@@1@33@@oe@2-2-2013
20118149@unknown@formal@none@1@S@If not Chicago, then in New York; if not the U.S., then overseas.@@@@1@13@@oe@2-2-2013
20118150@unknown@formal@none@1@S@Volatility surrounding his trades occurs not because of index arbitrage, but because his is a large addition or subtraction to a widget market with finite liquidity.@@@@1@26@@oe@2-2-2013
20118151@unknown@formal@none@1@S@Eliminate arbitrage and liquidity will decline instead of rising, creating more volatility instead of less.@@@@1@15@@oe@2-2-2013
20118152@unknown@formal@none@1@S@The speed of his transaction isn't to be feared either, because faster and cleaner execution is desirable, not loathsome.@@@@1@19@@oe@2-2-2013
20118153@unknown@formal@none@1@S@If slowing things down could reduce volatility, stone tablets should become the trade ticket of the future.@@@@1@17@@oe@2-2-2013
20118154@unknown@formal@none@1@S@Encouraging long-term investing.@@@@1@3@@oe@2-2-2013
20118155@unknown@formal@none@1@S@We must be very cautious about labeling investors as "long-term" or "short-term."@@@@1@12@@oe@2-2-2013
20118156@unknown@formal@none@1@S@Policies designed to encourage one type of investor over another are akin to placing a sign over the Big Board's door saying: "Buyers welcome, sellers please go away!"@@@@1@28@@oe@2-2-2013
20118157@unknown@formal@none@1@S@The ultimate goal of any investor is a profit motive, and regulators should not concern themselves with whether investors are sufficiently focused on the long term.@@@@1@26@@oe@2-2-2013
20118158@unknown@formal@none@1@S@A free market with a profit motive will attract each investor to the liquidity and risks he can tolerate.@@@@1@19@@oe@2-2-2013
20118159@unknown@formal@none@1@S@In point of fact, volatility as measured by the annualized standard deviation of daily stock price movements has frequently been much higher than it is today.@@@@1@26@@oe@2-2-2013
20118160@unknown@formal@none@1@S@Periods before the advent of futures or program trading were often more volatile, usually when fundamental market conditions were undergoing change (1973-75, 1937-40, and 1928-33 for example).@@@@1@27@@oe@2-2-2013
20118161@unknown@formal@none@1@S@It is interesting to see the fundamental stock pickers scream "foul" on program trading when the markets decline, while hailing the great values still abounding as the markets rise.@@@@1@29@@oe@2-2-2013
20118162@unknown@formal@none@1@S@Could rising volatility possibly be related to uncertainty about the economics of stocks, instead of the evil deeds of program-trading goblins?@@@@1@21@@oe@2-2-2013
20118163@unknown@formal@none@1@S@Some of the proposed fixes for what is labeled "program-trading volatility" could be far worse than the perceived problem.@@@@1@19@@oe@2-2-2013
20118164@unknown@formal@none@1@S@In using program trading as a whipping boy, fundamentalist investors stand to gain the high ground in wooing small investors for their existing stock-selection products.@@@@1@25@@oe@2-2-2013
20118165@unknown@formal@none@1@S@They may, however, risk bringing some damaging interference from outside the markets themselves.@@@@1@13@@oe@2-2-2013
20118166@unknown@formal@none@1@S@How does a nice new tax, say 5%, on any financial transaction sound?@@@@1@13@@oe@2-2-2013
20118167@unknown@formal@none@1@S@That ought to make sure we're all thinking for the long term.@@@@1@12@@oe@2-2-2013
20118168@unknown@formal@none@1@S@Getting a level playing field.@@@@1@5@@oe@2-2-2013
20118169@unknown@formal@none@1@S@This argument is perhaps the most interesting one for abolishing program trading -- not because of its merits, but because of the firms championing the cause.@@@@1@26@@oe@2-2-2013
20118170@unknown@formal@none@1@S@The loudest of these reformers are money managers who cater to smaller investors.@@@@1@13@@oe@2-2-2013
20118171@unknown@formal@none@1@S@They continually advise their clients on which individual stocks to buy or sell, while their clients continue to hope for superior performance.@@@@1@22@@oe@2-2-2013
20118172@unknown@formal@none@1@S@Even with mutual funds, the little investor continues to tolerate high fees, high commissions and poor performance, while index-fund managers slowly amass a better record with lower fees, lower commissions and less risk.@@@@1@33@@oe@2-2-2013
20118173@unknown@formal@none@1@S@Yet our efforts are somehow less noble than those of an investment expert studiously devouring press clippings on each company he follows.@@@@1@22@@oe@2-2-2013
20118174@unknown@formal@none@1@S@Almost all new regulation is introduced in the interests of protecting the little guy, and he invariably is the one least able to cope with its consequences.@@@@1@27@@oe@2-2-2013
20118175@unknown@formal@none@1@S@If spreads available from index arbitrage are so enormous, surely any sizable mutual-fund company could profit from offering it to small investors.@@@@1@22@@oe@2-2-2013
20118176@unknown@formal@none@1@S@The sad reality is that the retail investor continues to pursue stellar performers first, while leaving institutions to grapple with basis points of performance on large sums of money quarter by quarter.@@@@1@32@@oe@2-2-2013
20118177@unknown@formal@none@1@S@Cost-effective index funds just aren't sexy enough to justify the high fees and commissions that retail customers frequently pay, and that institutional customers refuse to pay.@@@@1@26@@oe@2-2-2013
20118178@unknown@formal@none@1@S@Each new trading roadblock is likely to be beaten by institutions seeking better ways to serve their high-volume clients, here or overseas.@@@@1@22@@oe@2-2-2013
20118179@unknown@formal@none@1@S@Legislating new trading inefficiencies will only make things harder on the least sophisticated investors.@@@@1@14@@oe@2-2-2013
20118180@unknown@formal@none@1@S@So what is next for program trading?@@@@1@7@@oe@2-2-2013
20118181@unknown@formal@none@1@S@Left to its own devices, index arbitrage will become more and more efficient, making it harder and harder to do profitably.@@@@1@21@@oe@2-2-2013
20118182@unknown@formal@none@1@S@Spreads will become so tight that it won't matter which market an investor chooses -- arbitrage will prevent him from gaining any temporary profit.@@@@1@24@@oe@2-2-2013
20118183@unknown@formal@none@1@S@If government or private watchdogs insist, however, on introducing greater friction between the markets (limits on price moves, two-tiered execution, higher margin requirements, taxation, etc.), the end loser will be the markets themselves.@@@@1@33@@oe@2-2-2013
20118184@unknown@formal@none@1@S@Instead, we ought to be inviting more liquidity with cheaper ways to trade and transfer capital among all participants.@@@@1@19@@oe@2-2-2013
20118185@unknown@formal@none@1@S@Mr. Allen's Pittsburgh firm, Advanced Investment Management Inc., executes program trades for institutions.@@@@1@13@@oe@2-2-2013
20119001@unknown@formal@none@1@S@Some Democrats in Congress are warning that a complicated new funding device for the two federal antitrust agencies could result in further cutbacks in a regulatory area already reduced sharply in recent years.@@@@1@33@@oe@2-2-2013
20119002@unknown@formal@none@1@S@The funding mechanism, which has received congressional approval and is expected to be signed by President Bush, would affect the antitrust operations of the Justice Department and the Federal Trade Commission.@@@@1@31@@oe@2-2-2013
20119003@unknown@formal@none@1@S@As a part of overall efforts to reduce spending, Congress cut by $30 million the Bush administration's request for antitrust enforcement for fiscal 1990, which began Oct. 1.@@@@1@28@@oe@2-2-2013
20119004@unknown@formal@none@1@S@To offset the reduction, Congress approved a $20,000 fee that investors and companies will have to pay each time they make required filings to antitrust regulators about mergers, acquisitions and certain other transactions.@@@@1@33@@oe@2-2-2013
20119005@unknown@formal@none@1@S@Some Democrats, led by Rep. Jack Brooks (D., Texas), unsuccessfully opposed the measure because they fear that the fees may not fully make up for the budget cuts.@@@@1@28@@oe@2-2-2013
20119006@unknown@formal@none@1@S@But Justice Department and FTC officials said they expect the filing fees to make up for the budget reductions and possibly exceed them.@@@@1@23@@oe@2-2-2013
20119007@unknown@formal@none@1@S@"It could operate to augment our budget," James Rill, the Justice Department's antitrust chief, said in an interview.@@@@1@18@@oe@2-2-2013
20119008@unknown@formal@none@1@S@Under measures approved by both houses of Congress, the administration's request for $47 million for the Antitrust Division would be cut $15 million.@@@@1@23@@oe@2-2-2013
20119009@unknown@formal@none@1@S@The FTC budget request of $70 million, about $34 million of which would go for antitrust enforcement, would also be cut by $15 million.@@@@1@24@@oe@2-2-2013
20119010@unknown@formal@none@1@S@The administration had requested roughly the same amount for antitrust enforcement for fiscal 1990 as was appropriated in fiscal 1989.@@@@1@20@@oe@2-2-2013
20119011@unknown@formal@none@1@S@The offsetting fees would apply to filings made under the Hart-Scott-Rodino Act.@@@@1@12@@oe@2-2-2013
20119012@unknown@formal@none@1@S@Under that law, parties proposing mergers or acquisitions valued at $15 million or more must notify FTC and Justice Department antitrust regulators before completing the transactions.@@@@1@26@@oe@2-2-2013
20119013@unknown@formal@none@1@S@Currently, the government charges nothing for such filings.@@@@1@8@@oe@2-2-2013
20119014@unknown@formal@none@1@S@Proponents of the funding arrangement predict that, based on recent filing levels of more than 2,000 a year, the fees will yield at least $40 million this fiscal year, or $10 million more than the budget cuts.@@@@1@37@@oe@2-2-2013
20119015@unknown@formal@none@1@S@"When you do that, there is not a cut, but there is in fact a program increase of $5 million" each for the FTC and the Justice Department, Rep. Neal Smith (D., Iowa) said during House debate.@@@@1@37@@oe@2-2-2013
20119016@unknown@formal@none@1@S@But Rep. Don Edwards (D., Calif.) responded that a recession could stifle merger activity, reducing the amount of fees collected.@@@@1@20@@oe@2-2-2013
20119017@unknown@formal@none@1@S@The antitrust staffs of both the FTC and Justice Department were cut more than 40% in the Reagan administration, and enforcement of major merger cases fell off drastically during that period.@@@@1@31@@oe@2-2-2013
20119018@unknown@formal@none@1@S@"Today is not the time to signal that Congress in any way sanctions the dismal state into which antitrust enforcement has fallen," Mr. Edwards argued.@@@@1@25@@oe@2-2-2013
20119019@unknown@formal@none@1@S@Any money in excess of $40 million collected from the fees in fiscal 1990 would go to the Treasury at large.@@@@1@21@@oe@2-2-2013
20119020@unknown@formal@none@1@S@Corporate lawyers said the new fees wouldn't inhibit many mergers or other transactions.@@@@1@13@@oe@2-2-2013
20119021@unknown@formal@none@1@S@Though some lawyers reported that prospective acquirers were scrambling to make filings before the fees take effect, government officials said they hadn't noticed any surge in filings.@@@@1@27@@oe@2-2-2013
20120001@unknown@formal@none@1@S@FALL BALLOT ISSUES set a record for off-year elections.@@@@1@9@@oe@2-2-2013
20120002@unknown@formal@none@1@S@Odd-year elections attract relatively few ballot issues.@@@@1@7@@oe@2-2-2013
20120003@unknown@formal@none@1@S@But the 1989 fall total of 80, while well below 1988 activity, shows "a steady ratcheting up in citizen referenda and initiatives," says Patrick McGuigan, editor of Family, Law and Democracy Report.@@@@1@32@@oe@2-2-2013
20120004@unknown@formal@none@1@S@He says the 10 citizen-sparked issues on state ballots this fall represent the most in any odd-year this decade.@@@@1@19@@oe@2-2-2013
20120005@unknown@formal@none@1@S@Ballot questions range from a Maine initiative on banning Cruise missiles to a referendum on increasing the North Dakota income tax.@@@@1@21@@oe@2-2-2013
20120006@unknown@formal@none@1@S@Ballot watchers say attention already is focused on the 1990 elections.@@@@1@11@@oe@2-2-2013
20120007@unknown@formal@none@1@S@In California, two petition drives for next year's election are "essentially finished," says David Schmidt, author of "Citizen Lawmakers."@@@@1@19@@oe@2-2-2013
20120008@unknown@formal@none@1@S@Mr. McGuigan cites three completed efforts in Oklahoma.@@@@1@8@@oe@2-2-2013
20120009@unknown@formal@none@1@S@Hot ballot topics are expected to be abortion, the environment and insurance reform.@@@@1@13@@oe@2-2-2013
20120010@unknown@formal@none@1@S@Taking a cue from California, more politicians will launch their campaigns by backing initiatives, says David Magleby of Brigham Young University.@@@@1@21@@oe@2-2-2013
20120011@unknown@formal@none@1@S@PHOTOGRAPH COLLECTING gains new stature as prices rise.@@@@1@8@@oe@2-2-2013
20120012@unknown@formal@none@1@S@Price records are being set at auctions this week.@@@@1@9@@oe@2-2-2013
20120013@unknown@formal@none@1@S@At Christie's, a folio of 21 prints from Alfred Stieglitz's "Equivalents" series sold for $396,000, a single-lot record.@@@@1@18@@oe@2-2-2013
20120014@unknown@formal@none@1@S@Other works also have been exceeding price estimates.@@@@1@8@@oe@2-2-2013
20120015@unknown@formal@none@1@S@In part, prices reflect development of a market structure based on such variables as the number of prints.@@@@1@18@@oe@2-2-2013
20120016@unknown@formal@none@1@S@This information used to be poorly documented and largely anecdotal, says Beth Gates-Warren of Sotheby's.@@@@1@15@@oe@2-2-2013
20120017@unknown@formal@none@1@S@"There is finally some sort of sense in the market," she says.@@@@1@12@@oe@2-2-2013
20120018@unknown@formal@none@1@S@Corporations and museums are among the serious buyers, giving greater market stability, says Robert Persky of the Photograph Collector.@@@@1@19@@oe@2-2-2013
20120019@unknown@formal@none@1@S@"When I see prints going into the hands of institutions, I know they aren't going to come back on the market."@@@@1@21@@oe@2-2-2013
20120020@unknown@formal@none@1@S@Most in demand: classic photographs by masters such as Stieglitz and Man Ray.@@@@1@13@@oe@2-2-2013
20120021@unknown@formal@none@1@S@But much contemporary work is also fetching "a great deal of money," says Miles Barth of the International Center of Photography.@@@@1@21@@oe@2-2-2013
20120022@unknown@formal@none@1@S@DIALING 900 brings callers a growing number of services.@@@@1@9@@oe@2-2-2013
20120023@unknown@formal@none@1@S@Currently a $300 million-a-year business, 900 telephone service is expected to hit $500 million next year and near $2 billion by 1992 as uses for the service continue to expand, says Joel Gross of Donaldson, Lufkin & Jenrette Inc.@@@@1@39@@oe@2-2-2013
20120024@unknown@formal@none@1@S@The service -- which costs the caller from 30 cents to $25 a minute -- currently is dominated by celebrity chatter, horoscopes and romance lines.@@@@1@25@@oe@2-2-2013
20120025@unknown@formal@none@1@S@But more serious applications are in the wings, and that is where the future growth is expected.@@@@1@17@@oe@2-2-2013
20120026@unknown@formal@none@1@S@"I'm starting to see more business transactions," says Andrea West of American Telephone & Telegraph Co., noting growing interest in use of 900 service for stock sales, software tutorials and even service contracts.@@@@1@33@@oe@2-2-2013
20120027@unknown@formal@none@1@S@Colleges, she says, are eyeing registration through 900 service.@@@@1@9@@oe@2-2-2013
20120028@unknown@formal@none@1@S@Charities test the waters, but they face legal barriers to electronic fund raising.@@@@1@13@@oe@2-2-2013
20120029@unknown@formal@none@1@S@"The thing that will really break this market right open is merchandising," Ms. West says.@@@@1@15@@oe@2-2-2013
20120030@unknown@formal@none@1@S@Much of the 800 service will "migrate to 900," predicts Jack Lawless, general manager of US Sprint's 900 product.@@@@1@19@@oe@2-2-2013
20120031@unknown@formal@none@1@S@FAMILY PETS are improving recovery rates of patients at Columbia Hospital, Milwaukee.@@@@1@12@@oe@2-2-2013
20120032@unknown@formal@none@1@S@Patients who receive canine or feline visitors are found to have lower blood pressure and improved appetite and be more receptive to therapy, says Mary Ann O'Loughlin, program coordinator.@@@@1@29@@oe@2-2-2013
20120033@unknown@formal@none@1@S@TIRED OF TRIMMING?@@@@1@3@@oe@2-2-2013
20120034@unknown@formal@none@1@S@Hammacher Schlemmer & Co. offers a fiber-optic Christmas tree that eliminates the need to string lights.@@@@1@16@@oe@2-2-2013
20120035@unknown@formal@none@1@S@The $6,500 tree is designed to send continuously changing colored light to dozens of fiber-end bunches.@@@@1@16@@oe@2-2-2013
20120036@unknown@formal@none@1@S@MEDICINE TRANSPLANT: Growth of Japanese trade and travel prompts Beth Israel Medical Center, New York, to set up a bilingual medical practice.@@@@1@22@@oe@2-2-2013
20120037@unknown@formal@none@1@S@Funded by a $1 million gift from Tokio Marine & Fire Insurance, the service will follow Japanese medical protocols, including emphasis on preventative medicine.@@@@1@24@@oe@2-2-2013
20120038@unknown@formal@none@1@S@DIAPER SERVICES make a comeback amid growing environmental concerns.@@@@1@9@@oe@2-2-2013
20120039@unknown@formal@none@1@S@Concerned about shrinking landfills and the safety of chemicals used in super-absorbent disposables, parents are returning to the cloth diaper.@@@@1@20@@oe@2-2-2013
20120040@unknown@formal@none@1@S@Tiny Tots Inc., Campbell, Calif., says business is up 35% in the past year.@@@@1@14@@oe@2-2-2013
20120041@unknown@formal@none@1@S@"We're gaining 1,200 new customers each week," says Jack Mogavero of General Health Care Corp., Piscataway, N.J.@@@@1@17@@oe@2-2-2013
20120042@unknown@formal@none@1@S@In Syracuse, N.Y., DyDee Service's new marketing push stresses environmental awareness.@@@@1@11@@oe@2-2-2013
20120043@unknown@formal@none@1@S@Among its new customers: day-care centers that previously spurned the service.@@@@1@11@@oe@2-2-2013
20120044@unknown@formal@none@1@S@The National Association of Diaper Services, Philadelphia, says that since January it has gotten more than 672 inquiries from people interested in starting diaper services.@@@@1@25@@oe@2-2-2013
20120045@unknown@formal@none@1@S@Elisa Hollis launched a diaper service last year because State College, Pa., where she lives, didn't have one.@@@@1@18@@oe@2-2-2013
20120046@unknown@formal@none@1@S@Diaper shortages this summer limited growth at Stork Diaper Services, Springfield, Mass., where business is up 25% in@@@@1@18@@oe@2-2-2013
20120047@unknown@formal@none@1@S@Also spurring the move to cloth: diaper covers with Velcro fasteners that eliminate the need for safety pins.@@@@1@18@@oe@2-2-2013
20120048@unknown@formal@none@1@S@BRIEFS:@@@@1@1@@oe@2-2-2013
20120049@unknown@formal@none@1@S@Only 57.6% of New Yorkers watch the local news, the lowest viewership in the country, says a new study by Impact Resources Inc., Columbus, Ohio. . . .@@@@1@28@@oe@2-2-2013
20120050@unknown@formal@none@1@S@FreudToy, a pillow bearing the likeness of Sigmund Freud, is marketed as a $24.95 tool for do-it-yourself analysis.@@@@1@18@@oe@2-2-2013
20121001@unknown@formal@none@1@S@Program trading is "a racket," complains Edward Egnuss, a White Plains, N.Y., investor and electronics sales executive, "and it's not to the benefit of the small investor, that's for sure."@@@@1@30@@oe@2-2-2013
20121002@unknown@formal@none@1@S@But although he thinks that it is hurting him, he doubts it could be stopped.@@@@1@15@@oe@2-2-2013
20121003@unknown@formal@none@1@S@Mr. Egnuss's dislike of program trading is echoed by many small investors interviewed by Wall Street Journal reporters across the country.@@@@1@21@@oe@2-2-2013
20121004@unknown@formal@none@1@S@But like Mr. Egnuss, few expect it to be halted entirely, and a surprising number doubt it should be.@@@@1@19@@oe@2-2-2013
20121005@unknown@formal@none@1@S@"I think program trading is basically unfair to the individual investor," says Leo Fields, a Dallas investor.@@@@1@17@@oe@2-2-2013
20121006@unknown@formal@none@1@S@He notes that program traders have a commission cost advantage because of the quantity of their trades, that they have a smaller margin requirement than individual investors do and that they often can figure out earlier where the market is heading.@@@@1@41@@oe@2-2-2013
20121007@unknown@formal@none@1@S@But he blames program trading for only some of the market's volatility.@@@@1@12@@oe@2-2-2013
20121008@unknown@formal@none@1@S@He also considers the market overvalued and cites the troubles in junk bonds.@@@@1@13@@oe@2-2-2013
20121009@unknown@formal@none@1@S@He adds: "The market may be giving us another message, that a recession is looming."@@@@1@15@@oe@2-2-2013
20121010@unknown@formal@none@1@S@Or, as Dorothy Arighi, an interior decorator in Arnold, Calif., puts it: "All kinds of funny things spook the market these days."@@@@1@22@@oe@2-2-2013
20121011@unknown@formal@none@1@S@But she believes that "program trading creates deviant swings.@@@@1@9@@oe@2-2-2013
20121012@unknown@formal@none@1@S@It's not a sound thing; there's no inherent virtue in it."@@@@1@11@@oe@2-2-2013
20121013@unknown@formal@none@1@S@She adds that legislation curbing it would be "a darned good idea."@@@@1@12@@oe@2-2-2013
20121014@unknown@formal@none@1@S@At the Charles Schwab & Co. office in Atlanta's Buckhead district, a group of investors voices skepticism that federal officials would curb program trading.@@@@1@24@@oe@2-2-2013
20121015@unknown@formal@none@1@S@Citing the October 1987 crash, Glenn Miller says, "It's like the last crash -- they threatened, but no one did anything."@@@@1@21@@oe@2-2-2013
20121016@unknown@formal@none@1@S@A. Donald Anderson, a 59-year-old Los Angeles investor who says the stock market's "fluctuations and gyrations give me the heebie-jeebies," doesn't see much point in outlawing program trading.@@@@1@28@@oe@2-2-2013
20121017@unknown@formal@none@1@S@Those who still want to do it "will just find some way to get around" any attempt to curb it.@@@@1@20@@oe@2-2-2013
20121018@unknown@formal@none@1@S@Similarly, Rick Wamre, a 31-year-old asset manager for a Dallas real-estate firm, would like to see program trading disappear because "I can't see that it does anything for the market or the country."@@@@1@33@@oe@2-2-2013
20121019@unknown@formal@none@1@S@Yet he isn't in favor of new legislation.@@@@1@8@@oe@2-2-2013
20121020@unknown@formal@none@1@S@"I think we've got enough securities laws," he says.@@@@1@9@@oe@2-2-2013
20121021@unknown@formal@none@1@S@"I'd much rather see them dealing with interest rates and the deficit."@@@@1@12@@oe@2-2-2013
20121022@unknown@formal@none@1@S@Peter Anthony, who runs an employment agency in New York, decries program trading as "limiting the game to a few," but he also isn't sure it should be more strictly regulated.@@@@1@31@@oe@2-2-2013
20121023@unknown@formal@none@1@S@"I don't want to denounce it because denouncing it would be like denouncing capitalism," he explains.@@@@1@16@@oe@2-2-2013
20121024@unknown@formal@none@1@S@And surprising numbers of small investors seem to be adapting to greater stock market volatility and say they can live with program trading.@@@@1@23@@oe@2-2-2013
20121025@unknown@formal@none@1@S@Glenn Britta, a 25-year-old New York financial analyst who plays options for his personal account, says he is "factoring" the market's volatility "into investment decisions."@@@@1@25@@oe@2-2-2013
20121026@unknown@formal@none@1@S@He adds that program trading "increases liquidity in the market.@@@@1@10@@oe@2-2-2013
20121027@unknown@formal@none@1@S@You can't hold back technology."@@@@1@5@@oe@2-2-2013
20121028@unknown@formal@none@1@S@And the practice shouldn't be stopped, he says, because "even big players aren't immune to the rigors of program trading."@@@@1@20@@oe@2-2-2013
20121029@unknown@formal@none@1@S@Also in New York, Israel Silverman, an insurance-company lawyer, comments that program trading "increases volatility, but I don't think it should be banned.@@@@1@23@@oe@2-2-2013
20121030@unknown@formal@none@1@S@There's no culprit here.@@@@1@4@@oe@2-2-2013
20121031@unknown@formal@none@1@S@The market is just becoming more efficient."@@@@1@7@@oe@2-2-2013
20121032@unknown@formal@none@1@S@Arbitraging on differences between spot and futures prices is an important part of many financial markets, he says.@@@@1@18@@oe@2-2-2013
20121033@unknown@formal@none@1@S@He adds that his shares in a company savings plan are invested in a mutual fund, and volatility, on a given day, may hurt the fund.@@@@1@26@@oe@2-2-2013
20121034@unknown@formal@none@1@S@But "I'm a long-term investor," he says.@@@@1@7@@oe@2-2-2013
20121035@unknown@formal@none@1@S@"If you were a short-term investor, you might be more leery about program trading."@@@@1@14@@oe@2-2-2013
20121036@unknown@formal@none@1@S@Jim Enzor of Atlanta defends program trading because he believes that it can bring the market back up after a plunge.@@@@1@21@@oe@2-2-2013
20121037@unknown@formal@none@1@S@"If we have a real bad day, the program would say, `Buy,'" he explains.@@@@1@14@@oe@2-2-2013
20121038@unknown@formal@none@1@S@"If you could get the rhythm of the program trading, you could take advantage of it."@@@@1@16@@oe@2-2-2013
20121039@unknown@formal@none@1@S@What else can a small investor do?@@@@1@7@@oe@2-2-2013
20121040@unknown@formal@none@1@S@Scott Taccetta, a Chicago accountant, is going into money-market funds.@@@@1@10@@oe@2-2-2013
20121041@unknown@formal@none@1@S@Mr. Taccetta says he had just recouped the $5,000 he lost in the 1987 crash when he lost more money last Oct. 13.@@@@1@23@@oe@2-2-2013
20121042@unknown@formal@none@1@S@Now, he plans to sell all his stocks by the first quarter of 1990.@@@@1@14@@oe@2-2-2013
20121043@unknown@formal@none@1@S@In October, before the market dropped, Mrs. Arighi of Arnold, Calif., moved to sell the "speculative stocks" in her family trust "so we will be able to withstand all this flim-flammery" caused by program trading.@@@@1@35@@oe@2-2-2013
20121044@unknown@formal@none@1@S@She believes that the only answer for individuals is to "buy stocks that'll weather any storm."@@@@1@16@@oe@2-2-2013
20121045@unknown@formal@none@1@S@Lucille Gorman, an 84-year-old Chicago housewife, has become amazingly immune to stock-market jolts.@@@@1@13@@oe@2-2-2013
20121046@unknown@formal@none@1@S@Mrs. Gorman took advantage of low prices after the 1987 crash to buy stocks and has hunted for other bargains since the Oct. 13 plunge.@@@@1@25@@oe@2-2-2013
20121047@unknown@formal@none@1@S@"My stocks are all blue chips," she says.@@@@1@8@@oe@2-2-2013
20121048@unknown@formal@none@1@S@"If the market goes down, I figure it's paper profits I'm losing.@@@@1@12@@oe@2-2-2013
20121049@unknown@formal@none@1@S@On the other hand, if it goes way sky high, I always sell.@@@@1@13@@oe@2-2-2013
20121050@unknown@formal@none@1@S@You don't want to get yourself too upset about these things.@@@@1@11@@oe@2-2-2013
20122001@unknown@formal@none@1@S@Young's Market Co., a wholesaler of spirits, wines and other goods, said it will merge with a new corporation formed by the Underwood family, which controls Young's.@@@@1@27@@oe@2-2-2013
20122002@unknown@formal@none@1@S@Under terms of the agreement, shareholders other than the Underwoods will receive $3,500 a share at closing, which is expected in December.@@@@1@22@@oe@2-2-2013
20122003@unknown@formal@none@1@S@The Underwood family said that holders of more than a majority of the stock of the company have approved the transaction by written consent.@@@@1@24@@oe@2-2-2013
20123001@unknown@formal@none@1@S@Researchers at American Telephone & Telegraph Co.'s Bell Laboratories reported they raised the electrical current-carrying capacity of new superconductor crystals by a factor of 100, moving the materials closer to commercial use.@@@@1@32@@oe@2-2-2013
20123002@unknown@formal@none@1@S@The scientists said they created small changes in the crystal-lattice structures of the superconductors to raise the amount of current that single crystals could carry to 600,000 amps per square centimeter in a moderately strong magnetic field.@@@@1@37@@oe@2-2-2013
20123003@unknown@formal@none@1@S@The scientists said they made the advance with yttrium-containing superconductors cooled to liquid-nitrogen temperature, or minus 321 degrees Fahrenheit.@@@@1@19@@oe@2-2-2013
20123004@unknown@formal@none@1@S@Their report appears in today's issue of the journal Nature.@@@@1@10@@oe@2-2-2013
20123005@unknown@formal@none@1@S@The finding marks a significant step in research on "bulk" superconductors, which are aimed at use in wires for motors, magnets, generators and other applications.@@@@1@25@@oe@2-2-2013
20123006@unknown@formal@none@1@S@Scientists had obtained even higher current-carrying capacity in thin films of the new superconductors, but have had problems increasing the amount of current that bulk crystals could carry.@@@@1@28@@oe@2-2-2013
20123007@unknown@formal@none@1@S@Superconductors conduct electricity without resistance when cooled.@@@@1@7@@oe@2-2-2013
20123008@unknown@formal@none@1@S@A family of ceramic superconductors discovered during the past three years promise new technologies such as cheaper electrical generation -- but only if their current-carrying capacity can be raised.@@@@1@29@@oe@2-2-2013
20123009@unknown@formal@none@1@S@The AT&T advance shows how one aspect of the current-carrying problem can be overcome.@@@@1@14@@oe@2-2-2013
20123010@unknown@formal@none@1@S@But "it won't lead to imminent use" of new superconductors, cautioned Robert B. van Dover, one of the AT&T researchers.@@@@1@20@@oe@2-2-2013
20123011@unknown@formal@none@1@S@He added that the current-carrying capacity of multi-crystal samples of superconductors remains too low for most practical uses because of so-called weak links between crystals.@@@@1@25@@oe@2-2-2013
20123012@unknown@formal@none@1@S@Such multi-crystal materials will probably be needed for commercial applications.@@@@1@10@@oe@2-2-2013
20123013@unknown@formal@none@1@S@Mr. van Dover said the AT&T team created the desired crystal changes by bombarding superconductor samples with neutrons, a process that creates some radioactivity in the samples and may not be feasible for large-scale commercial use.@@@@1@36@@oe@2-2-2013
20123014@unknown@formal@none@1@S@Still, scientists breathed a collective sigh of relief about the finding, because it demonstrates how to overcome the "flux pinning" problem that earlier this year was widely publicized as undercutting new superconductors' potential.@@@@1@33@@oe@2-2-2013
20123015@unknown@formal@none@1@S@The problem involves the motion of small magnetic fields within superconductor crystals, limiting their current-carrying capacity.@@@@1@16@@oe@2-2-2013
20123016@unknown@formal@none@1@S@Mr. van Dover said the crystal changes his team introduced apparently pins the magnetic fields in place, preventing them from lowering current-carrying capacity.@@@@1@23@@oe@2-2-2013
20123017@unknown@formal@none@1@S@Mr. van Dover added that researchers are trying to determine precisely what crystal changes solved the problem.@@@@1@17@@oe@2-2-2013
20123018@unknown@formal@none@1@S@Determining that may enable them to develop better ways to introduce the needed crystal-lattice patterns.@@@@1@15@@oe@2-2-2013
20123019@unknown@formal@none@1@S@The AT&T team also is trying to combine their latest superconductor process with "melt-textured growth," a process discovered earlier at Bell Laboratories.@@@@1@22@@oe@2-2-2013
20123020@unknown@formal@none@1@S@The combined processes may significantly raise the current-carrying capacity of multi-crystal samples.@@@@1@12@@oe@2-2-2013
20124001@unknown@formal@none@1@S@William C. Walbrecher Jr., an executive at San Francisco-based 1st Nationwide Bank, was named president and chief executive officer of Citadel Holding Corp. and its principal operating unit, Fidelity Federal Bank.@@@@1@31@@oe@2-2-2013
20124002@unknown@formal@none@1@S@The appointment takes effect Nov. 13.@@@@1@6@@oe@2-2-2013
20124003@unknown@formal@none@1@S@He succeeds James A. Taylor, who stepped down as chairman, president and chief executive in March for health reasons.@@@@1@19@@oe@2-2-2013
20124004@unknown@formal@none@1@S@Edward L. Kane succeeded Mr. Taylor as chairman.@@@@1@8@@oe@2-2-2013
20124005@unknown@formal@none@1@S@Separately, Citadel posted a third-quarter net loss of $2.3 million, or 68 cents a share, versus net income of $5.3 million, or $1.61 a share, a year earlier.@@@@1@28@@oe@2-2-2013
20124006@unknown@formal@none@1@S@The latest results include some unusual write-downs, which had an after-tax impact of $4.9 million.@@@@1@15@@oe@2-2-2013
20124007@unknown@formal@none@1@S@Those included costs associated with the potential Valley Federal Savings and Loan Association acquisition, which was terminated on Sept. 27, 1989.@@@@1@21@@oe@2-2-2013
20124008@unknown@formal@none@1@S@In addition, operating results were hit by an increase in loan and real estate loss reserves.@@@@1@16@@oe@2-2-2013
20124009@unknown@formal@none@1@S@In American Stock Exchange composite trading, Citadel shares closed yesterday at $45.75, down 25 cents.@@@@1@15@@oe@2-2-2013
20125001@unknown@formal@none@1@S@The following were among yesterday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
20125002@unknown@formal@none@1@S@International Business Machines Corp. --@@@@1@5@@oe@2-2-2013
20125003@unknown@formal@none@1@S@$750 million of 8 3/8% debentures due Nov. 1, 2019, priced at 99 to yield 8.467%.@@@@1@16@@oe@2-2-2013
20125004@unknown@formal@none@1@S@The 30-year non-callable issue was priced at a spread of 57 basis points above the Treasury's 8 1/8% bellwether long bond.@@@@1@21@@oe@2-2-2013
20125005@unknown@formal@none@1@S@Rated triple-A by both Moody's Investors Service Inc. and Standard & Poor's Corp., the issue will be sold through underwriters led by Salomon Brothers Inc.@@@@1@25@@oe@2-2-2013
20125006@unknown@formal@none@1@S@The size of the issue was increased from an originally planned $500 million.@@@@1@13@@oe@2-2-2013
20125007@unknown@formal@none@1@S@Detroit --@@@@1@2@@oe@2-2-2013
20125008@unknown@formal@none@1@S@$130 million of general obligation distributable state aid bonds due 1991-2000 and 2009, tentatively priced by a Chemical Securities Inc. group to yield from 6.20% in 1991 to 7.272% in 2009.@@@@1@31@@oe@2-2-2013
20125009@unknown@formal@none@1@S@There is $81.8 million of 7.20% term bonds due 2009 priced at 99 1/4 to yield 7.272%.@@@@1@17@@oe@2-2-2013
20125010@unknown@formal@none@1@S@Serial bonds are priced to yield from 6.20% in 1991 to 7% in 2000.@@@@1@14@@oe@2-2-2013
20125011@unknown@formal@none@1@S@The bonds are insured and triple-A-rated.@@@@1@6@@oe@2-2-2013
20125012@unknown@formal@none@1@S@Santa Ana Community Redevelopment Agency, Calif. --@@@@1@7@@oe@2-2-2013
20125013@unknown@formal@none@1@S@$107 million of tax allocation bonds, 1989 Series A-D, due 1991-1999, 2009 and 2019, tentatively priced by a Donaldson Lufkin & Jenrette Securities Corp. group to yield from 6.40% in 1991 to 7.458% in 2019.@@@@1@35@@oe@2-2-2013
20125014@unknown@formal@none@1@S@The 7 3/8% term bonds due 2009 are priced at 99 1/2 to yield 7.422%, and 7 3/8% term bonds due 2019 are priced at 99 to yield 7.458%.@@@@1@29@@oe@2-2-2013
20125015@unknown@formal@none@1@S@Serial bonds are priced at par to yield from 6.40% in 1991 to 7.15% in 1999.@@@@1@16@@oe@2-2-2013
20125016@unknown@formal@none@1@S@The bonds are rated single-A by S&P, according to the lead underwriter.@@@@1@12@@oe@2-2-2013
20125017@unknown@formal@none@1@S@Maryland Community Development Administration, Department of Housing and Community Development --@@@@1@11@@oe@2-2-2013
20125018@unknown@formal@none@1@S@$80.8 million of single-family program bonds, 1989 fourth and fifth series, tentatively priced by a Merrill Lynch Capital Markets group to yield from 6.25% in 1992 for fourth series bonds to 7.74% in 2029 for fifth series bonds.@@@@1@38@@oe@2-2-2013
20125019@unknown@formal@none@1@S@There is $30.9 million of fourth series bonds, the interest on which is not subject to the federal alternative minimum tax.@@@@1@21@@oe@2-2-2013
20125020@unknown@formal@none@1@S@They mature 1992-1999, 2009 and 2017.@@@@1@6@@oe@2-2-2013
20125021@unknown@formal@none@1@S@Fourth series serial bonds are priced at par to yield from 6.25% in 1992 to 7% in 1999.@@@@1@18@@oe@2-2-2013
20125022@unknown@formal@none@1@S@The 7.40% term bonds due 2009 are priced to yield 7.45%, and 7.40% term bonds due 2017 are priced to yield 7.50%.@@@@1@22@@oe@2-2-2013
20125023@unknown@formal@none@1@S@There is $49.9 million of fifth series bonds, which are subject to the federal alternative minimum tax.@@@@1@17@@oe@2-2-2013
20125024@unknown@formal@none@1@S@They mature in 2005, 2009 and 2029.@@@@1@7@@oe@2-2-2013
20125025@unknown@formal@none@1@S@Bonds due in 2005 have a 7 1/2% coupon and are priced at par.@@@@1@14@@oe@2-2-2013
20125026@unknown@formal@none@1@S@The 7 5/8% bonds due 2009 are priced to yield 7.65%, and 7 5/8% bonds due 2029 are priced at 98 1/2 to yield 7.74%.@@@@1@25@@oe@2-2-2013
20125027@unknown@formal@none@1@S@The underwriters expect a double-A rating from Moody's.@@@@1@8@@oe@2-2-2013
20125028@unknown@formal@none@1@S@Heiwado Co. (Japan) --@@@@1@4@@oe@2-2-2013
20125029@unknown@formal@none@1@S@$100 million of Eurobonds due Nov. 16, 1993, with equity-purchase warrants, indicating a 3 7/8% coupon at par, via Daiwa Europe Ltd.@@@@1@22@@oe@2-2-2013
20125030@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Nov. 30, 1989, through Nov. 2, 1993, to buy shares at an expected premium of 2 1/2% to the closing price when terms are fixed Tuesday.@@@@1@34@@oe@2-2-2013
20125031@unknown@formal@none@1@S@Fees 2 1/4.@@@@1@3@@oe@2-2-2013
20125032@unknown@formal@none@1@S@Svenska Intecknings Garanti Aktiebolaget (Sweden) --@@@@1@6@@oe@2-2-2013
20125033@unknown@formal@none@1@S@20 billion yen of 6% Eurobonds due Nov. 21, 1994, priced at 101 3/4 to yield 6.03% less full fees, via Mitsui Finance International.@@@@1@24@@oe@2-2-2013
20125034@unknown@formal@none@1@S@Guaranteed by Svenska Handelsbanken.@@@@1@4@@oe@2-2-2013
20125035@unknown@formal@none@1@S@Fees 1 7/8.@@@@1@3@@oe@2-2-2013
20125036@unknown@formal@none@1@S@Takashima & Co. (Japan) --@@@@1@5@@oe@2-2-2013
20125037@unknown@formal@none@1@S@50 million Swiss francs of privately placed convertible notes due March 31, 1994, with a fixed 0.25% coupon at par via Yamaichi Bank (Switzerland).@@@@1@24@@oe@2-2-2013
20125038@unknown@formal@none@1@S@Put option March 31, 1992, at a fixed 107 7/8 to yield 3.43%.@@@@1@13@@oe@2-2-2013
20125039@unknown@formal@none@1@S@Each 50,000 Swiss franc note is convertible from Nov. 30, 1989, to March 16, 1994 at a 5% premium over the closing share price Monday, when terms are scheduled to be fixed.@@@@1@32@@oe@2-2-2013
20125040@unknown@formal@none@1@S@Fees 1 3/4.@@@@1@3@@oe@2-2-2013
20125041@unknown@formal@none@1@S@Mitsubishi Pencil Co. (Japan) --@@@@1@5@@oe@2-2-2013
20125042@unknown@formal@none@1@S@60 million Swiss francs of privately placed convertible notes due Dec. 31, 1993, with a fixed 0.25% coupon at par via Union Bank of Switzerland.@@@@1@25@@oe@2-2-2013
20125043@unknown@formal@none@1@S@Put option on Dec. 31, 1991, at a fixed 106 7/8 to yield 3.42%.@@@@1@14@@oe@2-2-2013
20125044@unknown@formal@none@1@S@Each 50,000 Swiss franc note is convertible from Dec. 5, 1989, to Dec. 31, 1993, at a 5% premium over the closing share price Tuesday, when terms are scheduled to be fixed.@@@@1@32@@oe@2-2-2013
20125045@unknown@formal@none@1@S@Fees 1 5/8.@@@@1@3@@oe@2-2-2013
20125046@unknown@formal@none@1@S@Koizumi Sangyo Corp. (Japan) --@@@@1@5@@oe@2-2-2013
20125047@unknown@formal@none@1@S@20 million Swiss francs of 6 1/2% privately placed notes due Nov. 29, 1996, priced at 99 1/2 via Dai-Ichi Kangyo Bank (Schweiz).@@@@1@23@@oe@2-2-2013
20125048@unknown@formal@none@1@S@Guarantee by Dai-Ichi Kangyo Bank Ltd.@@@@1@6@@oe@2-2-2013
20125049@unknown@formal@none@1@S@Fees 1 3/4.@@@@1@3@@oe@2-2-2013
20126001@unknown@formal@none@1@S@Although his team lost the World Series, San Francisco Giants owner Bob Lurie hopes to have a new home for them.@@@@1@21@@oe@2-2-2013
20126002@unknown@formal@none@1@S@He is an avid fan of a proposition on next week's ballot to help build a replacement for Candlestick Park.@@@@1@20@@oe@2-2-2013
20126003@unknown@formal@none@1@S@Small wonder, since he's asking San Francisco taxpayers to sink up to $100 million into the new stadium.@@@@1@18@@oe@2-2-2013
20126004@unknown@formal@none@1@S@As San Francisco digs out from The Pretty Big One, opponents say the last thing the city can afford is an expensive new stadium.@@@@1@24@@oe@2-2-2013
20126005@unknown@formal@none@1@S@A stadium craze is sweeping the country.@@@@1@7@@oe@2-2-2013
20126006@unknown@formal@none@1@S@It's fueled by the increasing profitability of major-league teams.@@@@1@9@@oe@2-2-2013
20126007@unknown@formal@none@1@S@Something like one-third of the nation's 60 largest cities are thinking about new stadiums, ranging from Cleveland to San Antonio and St. Petersburg.@@@@1@23@@oe@2-2-2013
20126008@unknown@formal@none@1@S@Most boosters claim the new sports complexes will be moneymakers for their city.@@@@1@13@@oe@2-2-2013
20126009@unknown@formal@none@1@S@Pepperdine University economist Dean Baim scoffs at that.@@@@1@8@@oe@2-2-2013
20126010@unknown@formal@none@1@S@He has looked at 14 baseball and football stadiums and found that only one -- private Dodger Stadium -- brought more money into a city than it took out.@@@@1@29@@oe@2-2-2013
20126011@unknown@formal@none@1@S@Stadiums tend to redistribute existing wealth within a community, not create more of it.@@@@1@14@@oe@2-2-2013
20126012@unknown@formal@none@1@S@Voters generally agree when they are given a chance to decide if they want to sink their own tax dollars into a new mega-stadium.@@@@1@24@@oe@2-2-2013
20126013@unknown@formal@none@1@S@San Francisco voters rejected a new ballpark two years ago.@@@@1@10@@oe@2-2-2013
20126014@unknown@formal@none@1@S@Last month, Phoenix voters turned thumbs down on a $100 million stadium bond and tax proposition.@@@@1@16@@oe@2-2-2013
20126015@unknown@formal@none@1@S@Its backers fielded every important interest on their team -- a popular mayor, the Chamber of Commerce, the major media -- and spent $100,000 on promotion.@@@@1@26@@oe@2-2-2013
20126016@unknown@formal@none@1@S@But voters decided that if the stadium was such a good idea someone would build it himself, and rejected it 59% to 41%.@@@@1@23@@oe@2-2-2013
20126017@unknown@formal@none@1@S@In San Francisco, its backers concede the ballpark is at best running even in the polls.@@@@1@16@@oe@2-2-2013
20126018@unknown@formal@none@1@S@George Christopher, the former San Francisco mayor who built Candlestick Park for the Giants in the 1960s, won't endorse the new ballpark.@@@@1@22@@oe@2-2-2013
20126019@unknown@formal@none@1@S@He says he had Candlestick built because the Giants claimed they needed 10,000 parking spaces.@@@@1@15@@oe@2-2-2013
20126020@unknown@formal@none@1@S@Since the new park will have only 1,500 spaces, Mr. Christopher thinks backers are playing some fiscal "games" of their own with the voters.@@@@1@24@@oe@2-2-2013
20126021@unknown@formal@none@1@S@Stadium boosters claim that without public money they would never be built.@@@@1@12@@oe@2-2-2013
20126022@unknown@formal@none@1@S@Miami Dolphins owner Joe Robbie disagrees, and he can prove it.@@@@1@11@@oe@2-2-2013
20126023@unknown@formal@none@1@S@Several years ago he gave up trying to persuade Miami to improve its city-owned Orange Bowl, and instead built his own $100 million coliseum with private funds.@@@@1@27@@oe@2-2-2013
20126024@unknown@formal@none@1@S@He didn't see why the taxpayers should help build something he would then use to turn a healthy profit.@@@@1@19@@oe@2-2-2013
20126025@unknown@formal@none@1@S@"This stadium shows that anything government can do, we can do better," Mr. Robbie says.@@@@1@15@@oe@2-2-2013
20126026@unknown@formal@none@1@S@But to Moon Landrieu, the former New Orleans mayor who helped build that city's cavernous, money-losing Superdome, questions of who benefits or the bottom line are of little relevance.@@@@1@29@@oe@2-2-2013
20126027@unknown@formal@none@1@S@"The Superdome is an exercise in optimism, a statement of faith," he has said.@@@@1@14@@oe@2-2-2013
20126028@unknown@formal@none@1@S@"It is the very building of it that is important, not how much of it is used or its economics."@@@@1@20@@oe@2-2-2013
20126029@unknown@formal@none@1@S@An Egyptian Pharaoh couldn't have justified his pyramids any better.@@@@1@10@@oe@2-2-2013
20126030@unknown@formal@none@1@S@But civilization has moved forward since then.@@@@1@7@@oe@2-2-2013
20126031@unknown@formal@none@1@S@Today taxpayers get to vote, most of the time, on whether they want to finance the building schemes of our modern political pharaohs, or let private money erect these playgrounds for public passions.@@@@1@33@@oe@2-2-2013
20127001@unknown@formal@none@1@S@Reed International PLC said that net income for the six months ended Oct. 1 slipped 5% to #89.7 million ($141.9 million), or 16 pence a share, from #94.8 million ($149.9 million), or 17.3 pence a share.@@@@1@36@@oe@2-2-2013
20127002@unknown@formal@none@1@S@The British paper, packaging and publishing concern, said profit from continuing lines fell 10% to #118 million from #130.6 million.@@@@1@20@@oe@2-2-2013
20127003@unknown@formal@none@1@S@While there were no one-time gains or losses in the latest period, there was a one-time gain of #18 million in the 1988 period.@@@@1@24@@oe@2-2-2013
20127004@unknown@formal@none@1@S@And while there was no profit this year from discontinued operations, last year they contributed #34 million, before tax.@@@@1@19@@oe@2-2-2013
20127005@unknown@formal@none@1@S@Pretax profit fell 3.7% to #128 million from #133 million and was below analysts' expectations of #130 million to #135 million, but shares rose 6 pence to 388 pence in early trading yesterday in London.@@@@1@35@@oe@2-2-2013
20127006@unknown@formal@none@1@S@Reed is paying an interim dividend of 4.6 pence, up 15% from 4 pence a year earlier.@@@@1@17@@oe@2-2-2013
20127007@unknown@formal@none@1@S@Sales fell 20% to #722 million.@@@@1@6@@oe@2-2-2013
20127008@unknown@formal@none@1@S@Earnings were hurt by disposal of operations in its restructuring, Reed said.@@@@1@12@@oe@2-2-2013
20128001@unknown@formal@none@1@S@Wall Street's big securities firms face the prospect of having their credit ratings lowered.@@@@1@14@@oe@2-2-2013
20128002@unknown@formal@none@1@S@The reason: Risks from the firms' new "merchant banking" activities are rising as revenue from the industry's traditional business erodes.@@@@1@20@@oe@2-2-2013
20128003@unknown@formal@none@1@S@The downgrading of debt issued by CS First Boston Inc., parent of First Boston Corp., by Moody's Investors Service Inc., coupled with a Moody's announcement that Shearson Lehman Hutton Holdings Inc. is under review for a possible downgrade, sent shivers through the brokerage community this week.@@@@1@46@@oe@2-2-2013
20128004@unknown@formal@none@1@S@With the shudders came the realization that some of Wall Street's biggest players are struggling to maintain the stellar credit standing required to finance their activities profitably.@@@@1@27@@oe@2-2-2013
20128005@unknown@formal@none@1@S@Securities firms are among the biggest issuers of commercial paper, or short-term corporate IOUs, which they sell to finance their daily operations.@@@@1@22@@oe@2-2-2013
20128006@unknown@formal@none@1@S@The biggest firms still retain the highest ratings on their commercial paper.@@@@1@12@@oe@2-2-2013
20128007@unknown@formal@none@1@S@But Moody's warned that Shearson's commercial paper rating could be lowered soon, a move that would reduce Shearson's profit margins on its borrowings and signal trouble ahead for other firms.@@@@1@30@@oe@2-2-2013
20128008@unknown@formal@none@1@S@Shearson is 62%-owned by American Express Co.@@@@1@7@@oe@2-2-2013
20128009@unknown@formal@none@1@S@"Just as the 1980s bull market transformed the U.S. securities business, so too will the more difficult environment of the 1990s," says Christopher T. Mahoney, a Moody's vice president.@@@@1@29@@oe@2-2-2013
20128010@unknown@formal@none@1@S@"A sweeping restructuring of the industry is possible."@@@@1@8@@oe@2-2-2013
20128011@unknown@formal@none@1@S@Standard & Poor's Corp. says First Boston, Shearson and Drexel Burnham Lambert Inc., in particular, are likely to have difficulty shoring up their credit standing in months ahead.@@@@1@28@@oe@2-2-2013
20128012@unknown@formal@none@1@S@What worries credit-rating concerns the most is that Wall Street firms are taking long-term risks with their own capital via leveraged buy-out and junk bond financings.@@@@1@26@@oe@2-2-2013
20128013@unknown@formal@none@1@S@That's a departure from their traditional practice of transferring almost all financing risks to investors.@@@@1@15@@oe@2-2-2013
20128014@unknown@formal@none@1@S@Whereas conventional securities financings are structured to be sold quickly, Wall Street's new penchant for leveraged buy-outs and junk bonds is resulting in long-term lending commitments that stretch out for months or years.@@@@1@33@@oe@2-2-2013
20128015@unknown@formal@none@1@S@"The recent disarray in the junk bond market suggests that brokers may become longer-term creditors than they anticipated and may face long delays" in getting their money back, says Jeffrey Bowman, a vice president at S&P, which raised a warning flag for the industry in April when it downgraded CS First Boston.@@@@1@52@@oe@2-2-2013
20128016@unknown@formal@none@1@S@"Wall Street is facing a Catch-22 situation," says Mr. Mahoney of Moody's.@@@@1@12@@oe@2-2-2013
20128017@unknown@formal@none@1@S@Merchant banking, where firms commit their own money, "is getting riskier, and there's less of it to go around."@@@@1@19@@oe@2-2-2013
20128018@unknown@formal@none@1@S@In addition, he says, the buy-out business is under pressure "because of the junk bond collapse," meaning that returns are likely to decline as the volume of junk-bond financings shrinks.@@@@1@30@@oe@2-2-2013
20128019@unknown@formal@none@1@S@In a leveraged buy-out, a small group of investors acquires a company in a transaction financed largely by borrowing, with the expectation that the debt will be paid with funds generated by the acquired company's operations or sales of its assets.@@@@1@41@@oe@2-2-2013
20128020@unknown@formal@none@1@S@In a recent report, Moody's said it "expects intense competition to occur through the rest of the century in the securities industry, which, combined with overcapacity, will create poor prospects for profitability."@@@@1@32@@oe@2-2-2013
20128021@unknown@formal@none@1@S@It said that the "temptation for managements to ease this profit pressure by taking greater risks is an additional rating factor."@@@@1@21@@oe@2-2-2013
20128022@unknown@formal@none@1@S@Both Moody's and S&P cited First Boston's reliance in recent years on merchant banking, which has been responsible for a significant portion of the closely held firm's profit.@@@@1@28@@oe@2-2-2013
20128023@unknown@formal@none@1@S@The recent cash squeeze at Campeau Corp., First Boston's most lucrative client of the decade, is proving costly to First Boston because it arranged more than $3 billion of high-yield, high-risk junk financings for Campeau units.@@@@1@36@@oe@2-2-2013
20128024@unknown@formal@none@1@S@In addition, a big loan that First Boston made to Ohio Mattress Co. wasn't repaid on time when its $450 million junk financing for a buy-out of the bedding company was withdrawn.@@@@1@32@@oe@2-2-2013
20128025@unknown@formal@none@1@S@"These two exposures alone represent a very substantial portion of CS First Boston's equity," Moody's said.@@@@1@16@@oe@2-2-2013
20128026@unknown@formal@none@1@S@"Total merchant banking exposures are in excess of the firm's equity."@@@@1@11@@oe@2-2-2013
20128027@unknown@formal@none@1@S@CS First Boston, however, benefits from the backing of its largest shareholder, Credit Suisse, Switzerland's third largest bank.@@@@1@18@@oe@2-2-2013
20128028@unknown@formal@none@1@S@Shearson also has been an aggressive participant in the leveraged buy-out business.@@@@1@12@@oe@2-2-2013
20128029@unknown@formal@none@1@S@But its earnings became a major disappointment as its traditional retail, or individual investor, business showed no signs of rebounding from the slump that followed the October 1987 stock market crash.@@@@1@31@@oe@2-2-2013
20128030@unknown@formal@none@1@S@In addition, Shearson's listed $2 billion of capital is overstated, according to the rating concerns, because it includes $1.7 billion of goodwill.@@@@1@22@@oe@2-2-2013
20128031@unknown@formal@none@1@S@Shearson "really only has $300 million of capital," says Mr. Bowman of S&P.@@@@1@13@@oe@2-2-2013
20128032@unknown@formal@none@1@S@A Shearson spokesman said the firm isn't worried.@@@@1@8@@oe@2-2-2013
20128033@unknown@formal@none@1@S@"A year ago, Moody's also had Shearson under review for possible downgrade," he said.@@@@1@14@@oe@2-2-2013
20128034@unknown@formal@none@1@S@"After two months of talks, our rating was maintained."@@@@1@9@@oe@2-2-2013
20128035@unknown@formal@none@1@S@Drexel, meanwhile, already competes at a disadvantage to its big Wall Street rivals because it has a slightly lower commercial paper rating.@@@@1@22@@oe@2-2-2013
20128036@unknown@formal@none@1@S@The collapse of junk bond prices and the cancellation of many junk bond financings apparently have taken their toll on closely held Drexel, the leading underwriter in that market.@@@@1@29@@oe@2-2-2013
20128037@unknown@formal@none@1@S@The firm also has been hit with big financial settlements with the government stemming from its guilty plea to six felonies related to a big insider-trading scandal.@@@@1@27@@oe@2-2-2013
20128038@unknown@formal@none@1@S@Drexel this year eliminated its retail or individual customer business, cutting the firm's workforce almost in half to just over 5,000.@@@@1@21@@oe@2-2-2013
20128039@unknown@formal@none@1@S@Recently, Drexel circulated a private financial statement among several securities firms showing that its earnings performance has diminished this year from previous years.@@@@1@23@@oe@2-2-2013
20128040@unknown@formal@none@1@S@The firm's capital, moreover, hasn't grown at the same rate as in the past, officials at these firms say.@@@@1@19@@oe@2-2-2013
20128041@unknown@formal@none@1@S@Drexel remains confident of its future creditworthiness.@@@@1@7@@oe@2-2-2013
20128042@unknown@formal@none@1@S@"We're well positioned with $1.7 billion of capital," a Drexel spokesman said.@@@@1@12@@oe@2-2-2013
20128043@unknown@formal@none@1@S@"And as a leading investment and merchant banking firm, the fact that we are no longer subject to the uncertainties and vicissitudes of the retail business is a major plus in our view.@@@@1@33@@oe@2-2-2013
20128044@unknown@formal@none@1@S@Moreover, we've probably been the most aggressive firm on the Street in reducing costs, which are down around 40% over the last six months.@@@@1@24@@oe@2-2-2013
20129001@unknown@formal@none@1@S@Lewis C. Veraldi, the father of the team that created the highly successful Ford Taurus and Mercury Sable cars, retired early after experiencing recent heart problems.@@@@1@26@@oe@2-2-2013
20129002@unknown@formal@none@1@S@Most recently, Mr. Veraldi, 59 years old, has been vice president of product and manufacturing engineering at Ford Motor Co.@@@@1@20@@oe@2-2-2013
20129003@unknown@formal@none@1@S@But he is best known in the auto industry as the creator of a team car-development approach that produced the two midsized cars that were instrumental in helping the No. 2 auto maker record profits in recent years and in enabling the company's Ford division to eclipse General Motors Corp.'s Chevrolet division as the top-selling nameplate in the U.S.@@@@1@59@@oe@2-2-2013
20129004@unknown@formal@none@1@S@Under the so-called Team Taurus approach, Mr. Veraldi and other Ford product planners sought the involvement of parts suppliers, assembly-line workers, auto designers and financial staff members from the initial stages of the development cycle.@@@@1@35@@oe@2-2-2013
20129005@unknown@formal@none@1@S@The concept's goal was to eliminate bureaucracy and make Ford's product development more responsive to consumer demands.@@@@1@17@@oe@2-2-2013
20129006@unknown@formal@none@1@S@It was later applied to other new-car programs, including those that produced the Ford Thunderbird and Mercury Cougar.@@@@1@18@@oe@2-2-2013
20129007@unknown@formal@none@1@S@Ford Chairman Donald E. Petersen said yesterday that Mr. Veraldi has "helped to change the world's perception of American-made cars."@@@@1@20@@oe@2-2-2013
20129008@unknown@formal@none@1@S@Mr. Veraldi worked at Ford for 40 years, holding a variety of car and parts-engineering positions.@@@@1@16@@oe@2-2-2013
20130001@unknown@formal@none@1@S@The limits to legal absurdity stretched another notch this week when the Supreme Court refused to hear an appeal from a case that says corporate defendants must pay damages even after proving that they could not possibly have caused the harm.@@@@1@41@@oe@2-2-2013
20130002@unknown@formal@none@1@S@We can understand and share the compassion that makes judges sometimes wish to offer a kind of Solomonic aid to those who've been hurt.@@@@1@24@@oe@2-2-2013
20130003@unknown@formal@none@1@S@But this case is a stark lesson in how the failures of the traditional policy-making process have left the courts as the only forum this country has to debate risk, technology and innovation.@@@@1@33@@oe@2-2-2013
20130004@unknown@formal@none@1@S@Too often now, a single court decision becomes the precedent for other, less compelling cases.@@@@1@15@@oe@2-2-2013
20130005@unknown@formal@none@1@S@From the 1940s until 1971, some two million women took the synthetic hormone diethylstilbestrol (DES) to prevent miscarriages and morning sickness.@@@@1@21@@oe@2-2-2013
20130006@unknown@formal@none@1@S@The drug was approved by the Food and Drug Administration and marketed by some 300 pharmaceutical companies, often under generic labels.@@@@1@21@@oe@2-2-2013
20130007@unknown@formal@none@1@S@In the 1970s, scientists reported cancer cases among the daughters of DES users.@@@@1@13@@oe@2-2-2013
20130008@unknown@formal@none@1@S@The cases quickly went to court, but the mothers of several thousand DES plaintiffs couldn't recall whose brand they used.@@@@1@20@@oe@2-2-2013
20130009@unknown@formal@none@1@S@Beginning in 1980, courts in several states including California and New York decided to suspend the common-law rule that plaintiffs must prove that the defendants are the ones who are liable.@@@@1@31@@oe@2-2-2013
20130010@unknown@formal@none@1@S@Courts made the assumption that all DES pills were essentially the same, and created a market-share test so that damages would be assessed against drug makers in the proportion of their share of the original sales.@@@@1@36@@oe@2-2-2013
20130011@unknown@formal@none@1@S@This has some logic.@@@@1@4@@oe@2-2-2013
20130012@unknown@formal@none@1@S@Drug makers shouldn't be able to duck liability because people couldn't identify precisely which identical drug was used.@@@@1@18@@oe@2-2-2013
20130013@unknown@formal@none@1@S@But courts quickly tumbled down a slippery slope.@@@@1@8@@oe@2-2-2013
20130014@unknown@formal@none@1@S@Just as all plaintiffs are not alike, it turns out that DES defendants marketed the drugs differently and may have offered different warranties.@@@@1@23@@oe@2-2-2013
20130015@unknown@formal@none@1@S@The ultimate result came in Hymowitz v. Lilly, where the highest New York court expanded the market-share approach for the first time to say that drug makers that could prove Mindy Hymowitz's mother didn't use their pill must still pay their share of any damages.@@@@1@45@@oe@2-2-2013
20130016@unknown@formal@none@1@S@But as Duke University law professor William Van Alstyne notes, by this reasoning a defendant could be held liable in New York for a bad apple even if he sold all his apples in California.@@@@1@35@@oe@2-2-2013
20130017@unknown@formal@none@1@S@Despite the Supreme Court's refusal to hear the case, there are serious constitutional issues of due process and uncompensated takings from the defendants.@@@@1@23@@oe@2-2-2013
20130018@unknown@formal@none@1@S@The big problem, however, is that there's no guarantee that this reasoning will be limited to DES or to drugs.@@@@1@20@@oe@2-2-2013
20130019@unknown@formal@none@1@S@The problem here goes well beyond twisting legal doctrine.@@@@1@9@@oe@2-2-2013
20130020@unknown@formal@none@1@S@The California Supreme Court last year reversed direction to make it much harder to win DES cases because the justices saw how all the pharmaceutical litigation has chilled the introduction of new drugs.@@@@1@33@@oe@2-2-2013
20130021@unknown@formal@none@1@S@The court rejected strict liability for prescription drugs, citing the huge, hidden social costs.@@@@1@14@@oe@2-2-2013
20130022@unknown@formal@none@1@S@"Public policy favors the development and marketing of beneficial new drugs, even though some risks, perhaps serious ones, might accompany their introduction because drugs can save lives and reduce pain and suffering," the unanimous court said.@@@@1@36@@oe@2-2-2013
20130023@unknown@formal@none@1@S@The California justices noted that the fear of litigation already forced the only remaining anti-morning-sickness drug, Bendectin, off the U.S. market.@@@@1@21@@oe@2-2-2013
20130024@unknown@formal@none@1@S@This raises the key issue: What to do about people who suffer serious injuries from beneficial drugs?@@@@1@17@@oe@2-2-2013
20130025@unknown@formal@none@1@S@We now know that holding drug makers liable where there's no evidence that they or anyone else knew of any risks only means the drugs won't be available to anyone.@@@@1@30@@oe@2-2-2013
20130026@unknown@formal@none@1@S@As liability expert Peter Huber tells us, after the Hymowitz case, if any drug maker introduces an anti-miscarriage drug "it's time to sell that company's stock short."@@@@1@27@@oe@2-2-2013
20130027@unknown@formal@none@1@S@We also know that the tort system is a lousy way to compensate victims anyway; some win the legal lottery, others get much less and contingency-fee lawyers take a big cut either way.@@@@1@33@@oe@2-2-2013
20130028@unknown@formal@none@1@S@DES daughters and other victims of drugs would be better off if their cases were taken out of the courts.@@@@1@20@@oe@2-2-2013
20130029@unknown@formal@none@1@S@Congress could create a compensation program to help such victims while protecting the national interest in encouraging new drugs.@@@@1@19@@oe@2-2-2013
20130030@unknown@formal@none@1@S@But a 1986 law that supposedly replaced lawsuits over children's vaccines with a compensation fund has predictably led to even more litigation.@@@@1@22@@oe@2-2-2013
20130031@unknown@formal@none@1@S@Everyone by now understands that Congress is utterly incapable of writing legislation to help deserving people without its becoming some billion-dollar morass.@@@@1@22@@oe@2-2-2013
20130032@unknown@formal@none@1@S@We have no doubt this is one reason judges in New York and justices on the Supreme Court are willing to trash the law in the DES cases.@@@@1@28@@oe@2-2-2013
20130033@unknown@formal@none@1@S@They must figure that justice has to get done by somebody, but know it won't be done by Congress.@@@@1@19@@oe@2-2-2013
20131001@unknown@formal@none@1@S@Odyssey Partners Limited Partnership, an investment firm, completed the purchase of May Department Stores Co.'s Caldor discount chain for $500 million plus the assumption of $52 million in debt.@@@@1@29@@oe@2-2-2013
20131002@unknown@formal@none@1@S@Caldor, based in Norwalk, Conn., operates 118 stores in the Northeast; it reported revenue of $1.6 billion last year.@@@@1@19@@oe@2-2-2013
20131003@unknown@formal@none@1@S@May Stores, St. Louis, runs such well-known department stores as Lord & Taylor.@@@@1@13@@oe@2-2-2013
20132001@unknown@formal@none@1@S@N.V. DSM said net income in the third quarter jumped 63% as the company had substantially lower extraordinary charges to account for a restructuring program.@@@@1@25@@oe@2-2-2013
20132002@unknown@formal@none@1@S@The Dutch chemical group said net income gained to 235 million guilders ($113.2 million), or 6.70 guilders a share, from 144 million guilders, or 4.10 guilders a share, a year ago.@@@@1@31@@oe@2-2-2013
20132003@unknown@formal@none@1@S@The 32% state-owned DSM had eight million guilders of extraordinary charges in the latest quarter, mainly to reflect one-time losses in connection with the disposal of some operations.@@@@1@28@@oe@2-2-2013
20132004@unknown@formal@none@1@S@The charges were offset in part by a gain from the sale of the company's construction division.@@@@1@17@@oe@2-2-2013
20132005@unknown@formal@none@1@S@Last year, DSM had 71 million guilders of extraordinary charges for the restructuring program and other transactions.@@@@1@17@@oe@2-2-2013
20132006@unknown@formal@none@1@S@The earnings growth also was fueled by the company's ability to cut net financing spending by half to around 15 million guilders.@@@@1@22@@oe@2-2-2013
20132007@unknown@formal@none@1@S@Also, substantially lower Dutch corporate tax rates helped the company keep its tax outlay flat relative to earnings growth, the company added.@@@@1@22@@oe@2-2-2013
20132008@unknown@formal@none@1@S@Sales, however, were little changed at 2.46 billion guilders, compared with 2.42 billion guilders.@@@@1@14@@oe@2-2-2013
20133001@unknown@formal@none@1@S@Allergan Inc. said it received Food and Drug Administration approval to sell the PhacoFlex intraocular lens, the first foldable silicone lens available for cataract surgery.@@@@1@25@@oe@2-2-2013
20133002@unknown@formal@none@1@S@The len's foldability enables it to be inserted in smaller incisions than are now possible for cataract surgery, the eye care and skin care concern said.@@@@1@26@@oe@2-2-2013
20133003@unknown@formal@none@1@S@Cataracts refer to a clouding of the eye's natural lens.@@@@1@10@@oe@2-2-2013
20134001@unknown@formal@none@1@S@A man from the Bush administration came before the House Agriculture Committee yesterday to talk about the U.S.'s intention to send some $100 million in food aid to Poland, with more to come from the EC.@@@@1@36@@oe@2-2-2013
20134002@unknown@formal@none@1@S@The committee's members are worried what all this free food might do to the economic prospects of Poland's own farmers.@@@@1@20@@oe@2-2-2013
20134003@unknown@formal@none@1@S@Rep. Gary Ackerman noted that past food aid had harmed farmers in El Salvador and Egypt.@@@@1@16@@oe@2-2-2013
20134004@unknown@formal@none@1@S@However well intentioned, food transfers have the habit of growing larger and wrecking the market incentives for the recipient country's own farmers.@@@@1@22@@oe@2-2-2013
20134005@unknown@formal@none@1@S@The First World has for some time had the bad habit of smothering other people's economies with this kind of unfocused kindness.@@@@1@22@@oe@2-2-2013
20134006@unknown@formal@none@1@S@It should be constantly stressed that Poland's farmers mostly need a real market for their products.@@@@1@16@@oe@2-2-2013
20135001@unknown@formal@none@1@S@Elco Industries Inc. said it expects net income in the year ending June 30, 1990, to fall below a recent analyst's estimate of $1.65 a share.@@@@1@26@@oe@2-2-2013
20135002@unknown@formal@none@1@S@The Rockford, Ill., maker of fasteners also said it expects to post sales in the current fiscal year that are "slightly above" fiscal 1989 sales of $155 million.@@@@1@28@@oe@2-2-2013
20135003@unknown@formal@none@1@S@The company said its industrial unit continues to face margin pressures and lower demand.@@@@1@14@@oe@2-2-2013
20135004@unknown@formal@none@1@S@In fiscal 1989, Elco earned $7.8 million, or $1.65 a share.@@@@1@11@@oe@2-2-2013
20135005@unknown@formal@none@1@S@The company's stock fell $1.125 to $13.625 in over-the-counter trading yesterday.@@@@1@11@@oe@2-2-2013
20136001@unknown@formal@none@1@S@Oshkosh Truck Corp., Oshkosh, Wis., estimated earnings for its fourth quarter ended Sept. 30 fell 50% to 75% below the year-earlier $4.5 million, or 51 cents a share.@@@@1@28@@oe@2-2-2013
20136002@unknown@formal@none@1@S@The truck maker said the significant drop in net income will result in lower earnings for the fiscal year.@@@@1@19@@oe@2-2-2013
20136003@unknown@formal@none@1@S@In fiscal 1988, the company earned $17.3 million, or $1.92 a share, on revenue of $352.9 million.@@@@1@17@@oe@2-2-2013
20136004@unknown@formal@none@1@S@Oshkosh Truck attributed the downturn in its earnings to higher start-up costs of its new chassis division, a softer motor-home market and higher administrative costs of compliance with government contractor regulations.@@@@1@31@@oe@2-2-2013
20136005@unknown@formal@none@1@S@The company said it is in the process of phasing out John Deere, its current source of production for midsized motor home chassis.@@@@1@23@@oe@2-2-2013
20136006@unknown@formal@none@1@S@In anticipation of the start-up of its new factory, the company said a larger-than-normal chassis supply has been built to carry it through the transition period.@@@@1@26@@oe@2-2-2013
20137001@unknown@formal@none@1@S@Tokyo stocks edged up Wednesday in relatively active but unfocused trading.@@@@1@11@@oe@2-2-2013
20137002@unknown@formal@none@1@S@London shares finished moderately higher.@@@@1@5@@oe@2-2-2013
20137003@unknown@formal@none@1@S@At Tokyo, the Nikkei index of 225 selected issues, which gained 132 points Tuesday, added 14.99 points to 35564.43.@@@@1@19@@oe@2-2-2013
20137004@unknown@formal@none@1@S@In early trading in Tokyo Thursday, the Nikkei index fell 63.79 points to 35500.64.@@@@1@14@@oe@2-2-2013
20137005@unknown@formal@none@1@S@Wednesday's volume on the First Section was estimated at 900 million shares, in line with Tuesday's 909 million.@@@@1@18@@oe@2-2-2013
20137006@unknown@formal@none@1@S@Declining issues slightly outnumbered advancing issues, 454 to 451.@@@@1@9@@oe@2-2-2013
20137007@unknown@formal@none@1@S@Investors switched trading focus quickly as they did Tuesday, reflecting uncertainty about long-term commitments to any issue or sector, traders said.@@@@1@21@@oe@2-2-2013
20137008@unknown@formal@none@1@S@Speculation, on the other hand, sparked buying in certain incentive-backed issues, though rumors underlying such shares eventually proved untrue.@@@@1@19@@oe@2-2-2013
20137009@unknown@formal@none@1@S@The development, traders said, showed that there is more than ample liquidity available for investment despite the market's recent directionless trend.@@@@1@21@@oe@2-2-2013
20137010@unknown@formal@none@1@S@Dealers led the market Wednesday by actively trading for their own accounts, observers said.@@@@1@14@@oe@2-2-2013
20137011@unknown@formal@none@1@S@Institutions mostly remained on the sidelines because of uncertainty regarding interest rates and the dollar.@@@@1@15@@oe@2-2-2013
20137012@unknown@formal@none@1@S@The Tokyo Stock Price Index (Topix) of all issues listed in the First Section, which gained 16.05 points Tuesday, was down 1.46 points, or 0.05%, at 2691.19.@@@@1@27@@oe@2-2-2013
20137013@unknown@formal@none@1@S@The Second Section index, which added 6.84 points Tuesday, was up 5.92 points, or 0.16%, to close at 3648.82.@@@@1@19@@oe@2-2-2013
20137014@unknown@formal@none@1@S@Volume in the second section was estimated at 18 million shares, up from 14 million Tuesday.@@@@1@16@@oe@2-2-2013
20137015@unknown@formal@none@1@S@Akio Yamamoto, managing director of Nomura Investment Trust Management, said that if the U.S. federal funds rate declines to around 8.5%, institutions would acquire a clearer idea regarding the direction of the market and thus more comfortably participate in active buying.@@@@1@41@@oe@2-2-2013
20137016@unknown@formal@none@1@S@Tokyu Group, Mitsubishi Estate and Bridgestone/Firestone, which advanced Tuesday, declined on profit-taking.@@@@1@12@@oe@2-2-2013
20137017@unknown@formal@none@1@S@Wednesday's dominant issue was Yasuda Fire & Marine Insurance, which continued to surge on rumors of speculative buying.@@@@1@18@@oe@2-2-2013
20137018@unknown@formal@none@1@S@It ended the day up 80 yen (56 cents) to 1,880 yen ($13.15).@@@@1@13@@oe@2-2-2013
20137019@unknown@formal@none@1@S@Due to continuingly high gold prices tied to uncertainty about the U.S. currency, investor interest was directed toward oil and mining shares, which traders called a "defensive" action frequently taken when the dollar is expected to fall or during times of inflation.@@@@1@42@@oe@2-2-2013
20137020@unknown@formal@none@1@S@Teikoku Oil, also stimulated by rumors of speculative buying, advanced 100 yen to 1,460.@@@@1@14@@oe@2-2-2013
20137021@unknown@formal@none@1@S@Showa Shell gained 20 to 1,570 and Mitsubishi Oil rose 50 to 1,500.@@@@1@13@@oe@2-2-2013
20137022@unknown@formal@none@1@S@Sumitomo Metal Mining fell five yen to 692 and Nippon Mining added 15 to 960.@@@@1@15@@oe@2-2-2013
20137023@unknown@formal@none@1@S@Among other winners Wednesday was Nippon Shokubai, which was up 80 at 2,410.@@@@1@13@@oe@2-2-2013
20137024@unknown@formal@none@1@S@Marubeni advanced 11 to 890.@@@@1@5@@oe@2-2-2013
20137025@unknown@formal@none@1@S@London share prices were bolstered largely by continued gains on Wall Street and technical factors affecting demand for London's blue-chip stocks.@@@@1@21@@oe@2-2-2013
20137026@unknown@formal@none@1@S@The Financial Times-Stock Exchange 100-share index closed 17.5 points higher at 2160.1.@@@@1@12@@oe@2-2-2013
20137027@unknown@formal@none@1@S@It rose largely throughout the session after posting an intraday low of 2141.7 in the first 40 minutes of trading.@@@@1@20@@oe@2-2-2013
20137028@unknown@formal@none@1@S@The index ended the day near its session high of 2163.2, which was posted within the last half-hour of trading.@@@@1@20@@oe@2-2-2013
20137029@unknown@formal@none@1@S@Dealers said most investor interest was focused on defensive blue-chip stocks, particularly those with limited U.K. exposure.@@@@1@17@@oe@2-2-2013
20137030@unknown@formal@none@1@S@Also, several key blue chips were pushed higher in thin volume because of a technical squeeze among market makers.@@@@1@19@@oe@2-2-2013
20137031@unknown@formal@none@1@S@Sterling's firm tone, combined with a steady opening on Wall Street, also tempted some investors to come back to the market, dealers said.@@@@1@23@@oe@2-2-2013
20137032@unknown@formal@none@1@S@There were concerns early in the day that Wall Street's sharp gains on Tuesday were overdone and due for a reversal.@@@@1@21@@oe@2-2-2013
20137033@unknown@formal@none@1@S@The FT 30-share index settled 16.7 points higher at 1738.1.@@@@1@10@@oe@2-2-2013
20137034@unknown@formal@none@1@S@Volume was 372.9 million shares, up from 334.5 million on Tuesday.@@@@1@11@@oe@2-2-2013
20137035@unknown@formal@none@1@S@Dealers said institutions were still largely hugging the sidelines on fears that the market's recent technical rally might prove fragile.@@@@1@20@@oe@2-2-2013
20137036@unknown@formal@none@1@S@They cited Wall Street's recent volatility and the lack of a clear indication over the market's short-term direction as factors in the institutional caution.@@@@1@24@@oe@2-2-2013
20137037@unknown@formal@none@1@S@Jaguar, a U.K. luxury auto maker being pursued by Ford Motor and General Motors, gained 10 pence (16 cents) a share to close at 879 pence ($13.90).@@@@1@27@@oe@2-2-2013
20137038@unknown@formal@none@1@S@It shed about 7 pence, however, after dealers said the market was disappointed that Ford didn't move to tender a bid for control of the company.@@@@1@26@@oe@2-2-2013
20137039@unknown@formal@none@1@S@Dealers said the U.K. government's decision Tuesday to waive its protective "golden share" in the auto maker raised prospects of a bidding war between the two U.S. auto giants.@@@@1@29@@oe@2-2-2013
20137040@unknown@formal@none@1@S@But the waiver also was seen as a signal that Ford, a major U.K. auto industry employer, was able to gain government acceptance of its bid for control of Jaguar.@@@@1@30@@oe@2-2-2013
20137041@unknown@formal@none@1@S@Dealers said that interpretation sparked expectations of an imminent bid by Ford.@@@@1@12@@oe@2-2-2013
20137042@unknown@formal@none@1@S@B.A.T Industries, which is being pursued by Sir James Goldsmith's Hoylake Investments, rose 9 to 753 on speculation that Hoylake will sweeten its bid, dealers said.@@@@1@26@@oe@2-2-2013
20137043@unknown@formal@none@1@S@Like Jaguar, B.A.T also eased off its highs in afternoon dealings.@@@@1@11@@oe@2-2-2013
20137044@unknown@formal@none@1@S@Reed International, a U.K. publishing group, gained 15 to 397 despite reporting a 3.7% drop in interim pretax profit.@@@@1@19@@oe@2-2-2013
20137045@unknown@formal@none@1@S@Analysts said the fall in pretax profit was due to the group's recent restructuring and sale of peripheral units, and that its remaining businesses are performing well.@@@@1@27@@oe@2-2-2013
20137046@unknown@formal@none@1@S@Dealers said the market agreed.@@@@1@5@@oe@2-2-2013
20137047@unknown@formal@none@1@S@Stocks boosted by market-makers shopping to cover book requirements in FT-SE 100 shares included Carlton Communications, which climbed 32 to 778.@@@@1@21@@oe@2-2-2013
20137048@unknown@formal@none@1@S@Drug companies in the key index also notched gains as market-makers searched for stock in anticipation of demand due to the sector's defensive qualities.@@@@1@24@@oe@2-2-2013
20137049@unknown@formal@none@1@S@Wellcome gained 18 to 666 on a modest 1.1 million shares.@@@@1@11@@oe@2-2-2013
20137050@unknown@formal@none@1@S@Glaxo, the U.K.'s largest pharmaceutical concern, advanced 23 to #14.13.@@@@1@10@@oe@2-2-2013
20137051@unknown@formal@none@1@S@Stock prices closed higher in Stockholm, Amsterdam and Frankfurt and lower in Zurich.@@@@1@13@@oe@2-2-2013
20137052@unknown@formal@none@1@S@Paris, Brussels, and Milan were closed for a holiday.@@@@1@9@@oe@2-2-2013
20137053@unknown@formal@none@1@S@South African gold stocks closed marginally lower.@@@@1@7@@oe@2-2-2013
20137054@unknown@formal@none@1@S@Elsewhere, share prices closed higher in Singapore, Taipei and Wellington, were mixed in Hong Kong, lower in Seoul and little changed in Sydney.@@@@1@23@@oe@2-2-2013
20137055@unknown@formal@none@1@S@Manila markets were closed for a holiday.@@@@1@7@@oe@2-2-2013
20137056@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
20137057@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
20137058@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
20138001@unknown@formal@none@1@S@The following issues were recently filed with the Securities and Exchange Commission:@@@@1@12@@oe@2-2-2013
20138002@unknown@formal@none@1@S@Intermec Corp., offering of 1,050,000 common shares, via Goldman, Sachs & Co. and Piper, Jaffray & Hopwood Inc.@@@@1@18@@oe@2-2-2013
20138003@unknown@formal@none@1@S@Middlesex Water Co., offering of 150,000 shares of common stock, via Legg Mason Wood Walker Inc. and Howard, Weil, Labouisse, Friedrichs Inc.@@@@1@22@@oe@2-2-2013
20138004@unknown@formal@none@1@S@Midwesco Filter Resources Inc., initial offering of 830,000 common shares, to be offered by the company, via Chicago Corp.@@@@1@19@@oe@2-2-2013
20138005@unknown@formal@none@1@S@Nylev Municipal Fund Inc., offering of five million common shares.@@@@1@10@@oe@2-2-2013
20138006@unknown@formal@none@1@S@Occidental Petroleum Corp., shelf offering of $1.5 billion in senior debt securities.@@@@1@12@@oe@2-2-2013
20138007@unknown@formal@none@1@S@Prime Motor Inns Inc., offering of up to $300 million zero coupon convertible debentures, via Drexel Burnham Lambert Inc. and Montgomery Securities.@@@@1@22@@oe@2-2-2013
20138008@unknown@formal@none@1@S@Service Fracturing Co., proposed offering of 1.2 million shares of common stock, via Lovett Mitchell Webb & Garrison, Inc., and Blunt Ellis & Loewi Inc.@@@@1@25@@oe@2-2-2013
20138009@unknown@formal@none@1@S@Western Gas Resources Inc., initial offering of 3,250,000 shares of common stock, of which 3,040,000 shares will be sold by the company and 210,000 shares by a holder, via Prudential-Bache Capital Funding, Smith Barney, Harris Upham & Co., and Hanifen, Imhoff Inc.@@@@1@42@@oe@2-2-2013
20139001@unknown@formal@none@1@S@Hold the Putty!@@@@1@3@@oe@2-2-2013
20139002@unknown@formal@none@1@S@With lipsticks, liners, lotions and creams, There are still beauty plans left to tackle: But as the years go by, it seems That before I paint, I should spackle.@@@@1@29@@oe@2-2-2013
20139003@unknown@formal@none@1@S@-- Pat D'Amico.@@@@1@3@@oe@2-2-2013
20140001@unknown@formal@none@1@S@Criminal charges were filed against Diceon Electronics Inc. and two company officials alleging waste disposal violations in its Chatsworth, Calif., facility.@@@@1@21@@oe@2-2-2013
20140002@unknown@formal@none@1@S@The Los Angeles County district attorney's office filed seven felony and five misdemeanor counts charging that late last year and early this year the Irvine, Calif.-based circuit-board manufacturer illegally disposed of acid, caustic and heavy metals into the sewer system, and stored hazardous materials in leaky, unlabeled or open-top containers.@@@@1@50@@oe@2-2-2013
20140003@unknown@formal@none@1@S@Named as defendants were Roland Matthews, president, and Peter Jonas, executive vice president and chief financial officer, as well as a former plant manager.@@@@1@24@@oe@2-2-2013
20140004@unknown@formal@none@1@S@The company said local authorities held hearings on the allegations last spring and had returned the plant to "routine inspection" in August.@@@@1@22@@oe@2-2-2013
20140005@unknown@formal@none@1@S@"The company does not feel that it or any of the individuals violated any criminal statute and the company expects full vindication in court."@@@@1@24@@oe@2-2-2013
20140006@unknown@formal@none@1@S@Arraignments are scheduled for Nov. 14.@@@@1@6@@oe@2-2-2013
20141001@unknown@formal@none@1@S@Consumer confidence stayed strong in October, despite the unsettling gyrations of the stock market.@@@@1@14@@oe@2-2-2013
20141002@unknown@formal@none@1@S@"The sharp stock market decline in late October appears to have had little or no effect on consumers," said Fabian Linden, executive director of the Conference Board's consumer research center.@@@@1@30@@oe@2-2-2013
20141003@unknown@formal@none@1@S@"Survey returns received after the drop in the Dow Jones average were about the same as the views expressed prior to that event."@@@@1@23@@oe@2-2-2013
20141004@unknown@formal@none@1@S@The nonprofit, industry-supported group said its Consumer Confidence Index was 116.4 in October, barely changed from a revised 116.3 in September.@@@@1@21@@oe@2-2-2013
20141005@unknown@formal@none@1@S@The index was 116.9 in October 1988 and in the past year has ranged from a low of 112.9 to a high of 120.7.@@@@1@24@@oe@2-2-2013
20141006@unknown@formal@none@1@S@It uses a base of 100 in 1985.@@@@1@8@@oe@2-2-2013
20141007@unknown@formal@none@1@S@In October, more people said that present business conditions were "good" than in September.@@@@1@14@@oe@2-2-2013
20141008@unknown@formal@none@1@S@An equal number in each month said that employment conditions were good.@@@@1@12@@oe@2-2-2013
20141009@unknown@formal@none@1@S@And 19.6% of consumers contacted believed business conditions will improve in the coming six months, compared with 18.3% in September.@@@@1@20@@oe@2-2-2013
20141010@unknown@formal@none@1@S@Also, more people said conditions will worsen in the period.@@@@1@10@@oe@2-2-2013
20141011@unknown@formal@none@1@S@(Fewer said conditions won't change.)@@@@1@5@@oe@2-2-2013
20141012@unknown@formal@none@1@S@In October 1988, 21.1% said business conditions would improve.@@@@1@9@@oe@2-2-2013
20141013@unknown@formal@none@1@S@In October 1989, 16.9% said more jobs will be created in the coming six months, compared with 17.4% in September and 18.6% in October 1988.@@@@1@25@@oe@2-2-2013
20141014@unknown@formal@none@1@S@Only 26.8% in October, compared with 28.5% in September and 26.8% in October 1988, said income would increase.@@@@1@18@@oe@2-2-2013
20141015@unknown@formal@none@1@S@"The sustained level of confidence can be attributed to the continued favorable circumstances which affect the consumer's day-to-day economic life," said Mr. Linden.@@@@1@23@@oe@2-2-2013
20141016@unknown@formal@none@1@S@"Unemployment continues at a relatively low level, providing a sense of job security, and a low inflation rate has kept the purchasing power of the weekly paycheck reasonably strong."@@@@1@29@@oe@2-2-2013
20141017@unknown@formal@none@1@S@The consumer confidence survey, covering 5,000 U.S. households, is conducted in the first two weeks of each month for the Conference Board by National Family Opinion Inc., a Toledo, Ohio, market researcher.@@@@1@32@@oe@2-2-2013
20141018@unknown@formal@none@1@S@Buying plans were mixed in October, with fewer households indicating plans to buy cars and more saying they will buy homes and appliances in the coming six months.@@@@1@28@@oe@2-2-2013
20141019@unknown@formal@none@1@S@In October, 6.7% of respondents said they will buy a car, easing from September when 8.1% anticipated a purchase.@@@@1@19@@oe@2-2-2013
20141020@unknown@formal@none@1@S@In October 1988, 7.3% said they would buy a car.@@@@1@10@@oe@2-2-2013
20141021@unknown@formal@none@1@S@Home purchase plans increased to 3.3% from 3.1% in the two recent months.@@@@1@13@@oe@2-2-2013
20141022@unknown@formal@none@1@S@In October 1988, 3.7% said they would buy a house.@@@@1@10@@oe@2-2-2013
20141023@unknown@formal@none@1@S@In 1989, home purchase plans have ranged monthly from 2.9% to 3.7% of respondents.@@@@1@14@@oe@2-2-2013
20141024@unknown@formal@none@1@S@In October, 30.6% said they will buy appliances in the coming six months, compared with 27.4% in September and 26.5% in October 1988.@@@@1@23@@oe@2-2-2013
20142001@unknown@formal@none@1@S@Despite a deluge of economic news, the Treasury market remained quiet but the corporate market was abuzz over International Business Machines Corp.'s huge debt offering.@@@@1@25@@oe@2-2-2013
20142002@unknown@formal@none@1@S@"There were so many economic reports but the market didn't care about any of them," said Kathleen Camilli, a money market economist at Drexel Burnham Lambert Inc.@@@@1@27@@oe@2-2-2013
20142003@unknown@formal@none@1@S@"So the focus turned to other fixed-income markets, corporate and mortgages in particular," she said.@@@@1@15@@oe@2-2-2013
20142004@unknown@formal@none@1@S@IBM, the giant computer maker, offered $750 million of non-callable 30-year debentures priced to yield 8.47%, or about 1/2 percentage point higher than the yield on 30-year Treasury bonds.@@@@1@29@@oe@2-2-2013
20142005@unknown@formal@none@1@S@The size of IBM's issue was increased from an originally planned $500 million as money managers and investors scrambled to buy the bonds.@@@@1@23@@oe@2-2-2013
20142006@unknown@formal@none@1@S@In the investment-grade corporate market, "it's rare that you get an opportunity to buy a name that has such broad appeal and has such attractive call features," said James Ednie, a Drexel industrial bond trader.@@@@1@35@@oe@2-2-2013
20142007@unknown@formal@none@1@S@Money managers ranked IBM's offering as the most significant investment-grade sale of the year because large issues of long-term debt by companies with triple-A credit are infrequent.@@@@1@27@@oe@2-2-2013
20142008@unknown@formal@none@1@S@Syndicate officials at lead underwriter Salomon Brothers Inc. said the debentures were snapped by up pension funds, banks, insurance companies and other institutional investors.@@@@1@24@@oe@2-2-2013
20142009@unknown@formal@none@1@S@In the Treasury market, investors paid scant attention to the day's economic reports, which for the most part provided a mixed view of the economy.@@@@1@25@@oe@2-2-2013
20142010@unknown@formal@none@1@S@"Whether you thought the economy was growing weak or holding steady, yesterday's economic indicators didn't change your opinion," said Charles Lieberman, a managing director at Manufacturers Hanover Securities Corp.@@@@1@29@@oe@2-2-2013
20142011@unknown@formal@none@1@S@The government reported that orders for manufactured goods were essentially unchanged in September while construction spending was slightly lower.@@@@1@19@@oe@2-2-2013
20142012@unknown@formal@none@1@S@Both indicators were viewed as signs that the nation's industrial sector is growing very slowly, if at all.@@@@1@18@@oe@2-2-2013
20142013@unknown@formal@none@1@S@A survey by the Federal Reserve's 12 district banks and the latest report by the National Association of Purchasing Management blurred that picture of the economy.@@@@1@26@@oe@2-2-2013
20142014@unknown@formal@none@1@S@In a monthly report prepared for use at the Fed's next Federal Open Market Committee meeting on Nov. 14., the nation's central bank found that price increases have moderated and economic activity has grown at a sluggish pace in recent weeks.@@@@1@41@@oe@2-2-2013
20142015@unknown@formal@none@1@S@Among other things, the survey found that manufacturing activity varied considerably across districts and among industries.@@@@1@16@@oe@2-2-2013
20142016@unknown@formal@none@1@S@The Philadelphia and Cleveland districts, for example, reported declines in manufacturing activity while the Boston, Dallas and San Francisco banks noted that business expanded.@@@@1@24@@oe@2-2-2013
20142017@unknown@formal@none@1@S@The purchasing managers index of economic activity rose in October, although it remains below 50%.@@@@1@15@@oe@2-2-2013
20142018@unknown@formal@none@1@S@A reading below 50% indicates that the manufacturing sector is slowing while a reading above 50% suggests that the industry is expanding.@@@@1@22@@oe@2-2-2013
20142019@unknown@formal@none@1@S@Mr. Lieberman said the diverse showing in yesterday's reports "only enhances the importance of the employment data."@@@@1@17@@oe@2-2-2013
20142020@unknown@formal@none@1@S@The employment report, which at times has caused wide swings in bond prices, is due out tomorrow.@@@@1@17@@oe@2-2-2013
20142021@unknown@formal@none@1@S@The average estimate of 22 economists polled by Dow Jones Capital Markets Report was that non-farm payrolls expanded by 152,000 in October.@@@@1@22@@oe@2-2-2013
20142022@unknown@formal@none@1@S@The economists forecast a 0.1% rise in the unemployment rate to 5.4%.@@@@1@12@@oe@2-2-2013
20142023@unknown@formal@none@1@S@Treasury Securities@@@@1@2@@oe@2-2-2013
20142024@unknown@formal@none@1@S@In a surprise announcement, the Treasury said it will reopen the outstanding benchmark 30-year bond rather than create a new one for next week's quarterly refunding of the federal debt.@@@@1@30@@oe@2-2-2013
20142025@unknown@formal@none@1@S@The Treasury will raise $10 billion in fresh cash by selling $30 billion of securities, including $10 billion of new three-year notes and $10 billion of new 10-year notes.@@@@1@29@@oe@2-2-2013
20142026@unknown@formal@none@1@S@But rather than sell new 30-year bonds, the Treasury will issue $10 billion of 29year, nine-month bonds -- essentially increasing the size of the current benchmark 30-year bond that was sold at the previous refunding in August.@@@@1@37@@oe@2-2-2013
20142027@unknown@formal@none@1@S@Credit market analysts said the decision to reopen the current benchmark, the 8 1/8% bond due August 2019, is unusual because the issue trades at a premium to its face amount.@@@@1@31@@oe@2-2-2013
20142028@unknown@formal@none@1@S@Some dealers said the Treasury's intent is to help government bond dealers gauge investor demand for the securities, given uncertainties about when the auction will occur.@@@@1@26@@oe@2-2-2013
20142029@unknown@formal@none@1@S@The Treasury said the refunding is contingent upon congressional and presidential passage of an increase in the federal debt ceiling.@@@@1@20@@oe@2-2-2013
20142030@unknown@formal@none@1@S@Until such action takes places, the Treasury has no ability to issue new debt of any kind.@@@@1@17@@oe@2-2-2013
20142031@unknown@formal@none@1@S@Meanwhile, Treasury bonds ended modestly higher in quiet trading.@@@@1@9@@oe@2-2-2013
20142032@unknown@formal@none@1@S@The benchmark 30-year bond about 1/4 point, or $2.50 for each $1,000 face amount.@@@@1@14@@oe@2-2-2013
20142033@unknown@formal@none@1@S@The benchmark was priced at 102 22/32 to yield 7.88% compared with 102 12/32 to yield 7.90% Tuesday.@@@@1@18@@oe@2-2-2013
20142034@unknown@formal@none@1@S@The latest 10-year notes were quoted at 100 22/32 to yield 7.88% compared with 100 16/32 to yield 7.90%.@@@@1@19@@oe@2-2-2013
20142035@unknown@formal@none@1@S@The discount rate on three-month Treasury bills was essentially unchanged at 7.79%, while the rate on six-month bills was slightly lower at 7.52% compared with 7.60% Tuesday.@@@@1@27@@oe@2-2-2013
20142036@unknown@formal@none@1@S@Corporate Issues@@@@1@2@@oe@2-2-2013
20142037@unknown@formal@none@1@S@IBM's $750 million debenture offering dominated activity in the corporate debt market.@@@@1@12@@oe@2-2-2013
20142038@unknown@formal@none@1@S@Meanwhile, most investment-grade bonds ended unchanged to as much as 1/8 point higher.@@@@1@13@@oe@2-2-2013
20142039@unknown@formal@none@1@S@In its latest compilation of performance statistics, Moody's Investors Service found that investment-grade bonds posted a total return of 2.7% in October while junk bonds showed a negative return of 1.5%.@@@@1@31@@oe@2-2-2013
20142040@unknown@formal@none@1@S@Moody's said those returns compare with a 3.8% total return for longer-term Treasury notes and bonds.@@@@1@16@@oe@2-2-2013
20142041@unknown@formal@none@1@S@Total return measures price changes and interest income.@@@@1@8@@oe@2-2-2013
20142042@unknown@formal@none@1@S@For the year to date, Moody's said total returns were topped by the 16.5% of longer-term Treasury issues, closely followed by 15% for investment-grade bonds.@@@@1@25@@oe@2-2-2013
20142043@unknown@formal@none@1@S@Junk bonds trailed the group again.@@@@1@6@@oe@2-2-2013
20142044@unknown@formal@none@1@S@"Even the 7.2% return from the risk-free three-month Treasury bill has easily outdistanced the 4.1% return from junk bonds," wrote Moody's economist John Lonski in yesterday's market report.@@@@1@28@@oe@2-2-2013
20142045@unknown@formal@none@1@S@"Little wonder that buyers for junk have been found wanting," he said.@@@@1@12@@oe@2-2-2013
20142046@unknown@formal@none@1@S@Moody's said the average net asset value of 24 junk-bond mutual funds fell by 4.2% in October.@@@@1@17@@oe@2-2-2013
20142047@unknown@formal@none@1@S@Mortgage-Backed Issues@@@@1@2@@oe@2-2-2013
20142048@unknown@formal@none@1@S@Mortgage securities ended slightly higher but trailed gains in the Treasury market.@@@@1@12@@oe@2-2-2013
20142049@unknown@formal@none@1@S@Ginnie Mae's 9% issue for November delivery finished at 98 5/8, up 2/32, and its 9 1/2% issue at 100 22/32, also up 2/32.@@@@1@24@@oe@2-2-2013
20142050@unknown@formal@none@1@S@The Ginnie Mae 9% securities were yielding 9.32% to a 12-year average life.@@@@1@13@@oe@2-2-2013
20142051@unknown@formal@none@1@S@Activity was light in derivative markets, with no new issues priced.@@@@1@11@@oe@2-2-2013
20142052@unknown@formal@none@1@S@Municipal Issues@@@@1@2@@oe@2-2-2013
20142053@unknown@formal@none@1@S@Municipal bonds were mostly unchanged to up 1/8 point in light, cautious trading prior to tomorrow's unemployment report.@@@@1@18@@oe@2-2-2013
20142054@unknown@formal@none@1@S@A $114 million issue of health facility revenue bonds from the California Health Facilities Financing Authority was temporarily withdrawn after being tentatively priced by a First Boston Corp. group.@@@@1@29@@oe@2-2-2013
20142055@unknown@formal@none@1@S@An official for the lead underwriter declined to comment on the reason for the delay, but market participants speculated that a number of factors, including a lack of investor interest, were responsible.@@@@1@32@@oe@2-2-2013
20142056@unknown@formal@none@1@S@The issue could be relaunched, possibly in a restructured form, as early as next week, according to the lead underwriter.@@@@1@20@@oe@2-2-2013
20142057@unknown@formal@none@1@S@A $107.03 million offering of Santa Ana Community Redevelopment Agency, Calif., tax allocation bonds got off to a slow start and may be repriced at lower levels today, according to an official with lead underwriter Donaldson Lufkin & Jenrette Securities Corp.@@@@1@41@@oe@2-2-2013
20142058@unknown@formal@none@1@S@The Santa Ana bonds were tentatively priced to yield from 6.40% in 1991 to 7.458% in@@@@1@16@@oe@2-2-2013
20142059@unknown@formal@none@1@S@Bucking the market trend, an issue of $130 million general obligation distributable state aid bonds from Detroit, Mich., apparently drew solid investor interest.@@@@1@23@@oe@2-2-2013
20142060@unknown@formal@none@1@S@They were tentatively priced to yield from 6.20% in 1991 to 7.272% in@@@@1@13@@oe@2-2-2013
20142061@unknown@formal@none@1@S@Foreign Bond@@@@1@2@@oe@2-2-2013
20142062@unknown@formal@none@1@S@West German dealers said there was little interest in Treasury bonds ahead of Thursday's new government bond issue.@@@@1@18@@oe@2-2-2013
20142063@unknown@formal@none@1@S@So far, they said, investors appear unenthusiastic about the new issue which might force the government to raise the coupon to more than 7%.@@@@1@24@@oe@2-2-2013
20142064@unknown@formal@none@1@S@It is generally expected to be the usual 10-year, four billion mark issue.@@@@1@13@@oe@2-2-2013
20142065@unknown@formal@none@1@S@Rumors to the contrary have been that it would be a six billion mark issue, or that the last Bund, a 7% issue due October 1999, would be increased by two billion marks.@@@@1@33@@oe@2-2-2013
20142066@unknown@formal@none@1@S@Elsewhere:@@@@1@1@@oe@2-2-2013
20142067@unknown@formal@none@1@S@-- In Japan, the benchmark No. 111 4.6% issue due 1998 ended on brokers screens unchanged at 95.09 to yield 5.435%.@@@@1@21@@oe@2-2-2013
20142068@unknown@formal@none@1@S@-- In Britain, the benchmark 11 3/4% bond due 2003/2007 fell 14/32 to 111 2/32 to yield 10.19%.@@@@1@18@@oe@2-2-2013
20142069@unknown@formal@none@1@S@The 12% notes due 1995 fell 9/32 to 103 3/8 to yield 11.10%.@@@@1@13@@oe@2-2-2013
20143001@unknown@formal@none@1@S@Standard & Poor's Corp. lowered to double-C from triple-C the rating on about $130 million of debt.@@@@1@17@@oe@2-2-2013
20143002@unknown@formal@none@1@S@The rating concern said the textile and clothing company's interest expense exceeds operating profit "by a wide margin" and it noted United's estimated after-tax loss of $24 million for the year ended June 30.@@@@1@34@@oe@2-2-2013
20144001@unknown@formal@none@1@S@Travelers Corp.'s third-quarter net income rose 11%, even though claims stemming from Hurricane Hugo reduced results $40 million.@@@@1@18@@oe@2-2-2013
20144002@unknown@formal@none@1@S@Net advanced to $94.2 million, or 89 cents a share, from $85 million, or 83 cents a share, including net realized investment gains of $31 million, up from $10 million a year ago.@@@@1@33@@oe@2-2-2013
20144003@unknown@formal@none@1@S@But revenue declined to $3 billion from $3.2 billion.@@@@1@9@@oe@2-2-2013
20144004@unknown@formal@none@1@S@Travelers estimated that the California earthquake last month will result in a fourth-quarter pre-tax charge of less than $10 million.@@@@1@20@@oe@2-2-2013
20144005@unknown@formal@none@1@S@The insurer's earnings from commercial property/casualty lines fell 59% in the latest quarter, while it lost $7.2 million in its personal property/casualty business, compared with earnings of $6.1 million a year ago.@@@@1@32@@oe@2-2-2013
20144006@unknown@formal@none@1@S@Travelers's employee benefits group, which includes its group health insurance operations, posted earnings of $24 million, compared with a loss of $3 million last year.@@@@1@25@@oe@2-2-2013
20144007@unknown@formal@none@1@S@In the first nine months, net was $306 million, compared with a loss of $195 million in the 1988 period.@@@@1@20@@oe@2-2-2013
20144008@unknown@formal@none@1@S@The year-ago results included a $415 million charge in the 1988 second quarter for underperforming real estate and mortgage loans.@@@@1@20@@oe@2-2-2013
20145001@unknown@formal@none@1@S@The British Department of Trade and Industry ordered an investigation of the competitive impact of Michelin Tyre PLC's planned acquisition of National Tyre Service Ltd.@@@@1@25@@oe@2-2-2013
20145002@unknown@formal@none@1@S@The department said it referred the takeover to the Monopolies and Mergers Commission because of the purchase's possible effects on the U.K. market for distribution of replacement tires.@@@@1@28@@oe@2-2-2013
20145003@unknown@formal@none@1@S@BTR PLC, a U.K. industrial conglomerate, said in June it had sold its National Tyre Service business to Michelin Investment Ltd., a U.K. unit of the tire maker, for #140 million ($221.4 million).@@@@1@33@@oe@2-2-2013
20145004@unknown@formal@none@1@S@Michelin Tyre is a unit of France's Michelin S.A.@@@@1@9@@oe@2-2-2013
20145005@unknown@formal@none@1@S@Michelin officials couldn't immediately comment on the referral, but they noted the purchase from BTR has already been concluded.@@@@1@19@@oe@2-2-2013
20145006@unknown@formal@none@1@S@National Tyre, which has 420 branches throughout the U.K., had 1988 pretax profit of #8.5 million.@@@@1@16@@oe@2-2-2013
20146001@unknown@formal@none@1@S@Rep. John Dingell, an important sponsor of President Bush's clean-air bill, plans to unveil a surprise proposal that would break with the White House on a centerpiece issue: acid rain.@@@@1@30@@oe@2-2-2013
20146002@unknown@formal@none@1@S@The Michigan Democrat's proposal, which is expected today, is described by government sources and lobbyists as significantly weaker than the Bush administration's plan to cut utility emissions that lead to acid rain.@@@@1@32@@oe@2-2-2013
20146003@unknown@formal@none@1@S@The administration's plan could cost utilities, mainly those that use coal, up to $4 billion a year.@@@@1@17@@oe@2-2-2013
20146004@unknown@formal@none@1@S@The proposal comes as a surprise even to administration officials and temporarily throws into chaos the House's work on clean-air legislation.@@@@1@21@@oe@2-2-2013
20146005@unknown@formal@none@1@S@As chairman of the House Energy and Commerce Committee, Mr. Dingell has almost single-handed control over clean-air legislation.@@@@1@18@@oe@2-2-2013
20146006@unknown@formal@none@1@S@People close to the utility industry said Mr. Dingell's proposal appears to guarantee only an estimated seven-million-ton cut in annual sulfur-dioxide emissions that lead to acid rain, though additional cuts could be ordered later.@@@@1@34@@oe@2-2-2013
20146007@unknown@formal@none@1@S@Mr. Bush's legislative package promises to cut emissions by 10 million tons -- basically in half -- by the year 2000.@@@@1@21@@oe@2-2-2013
20146008@unknown@formal@none@1@S@Although final details weren't available, sources said the Dingell plan would abandon the president's proposal for a cap on utilities' sulfur-dioxide emissions.@@@@1@22@@oe@2-2-2013
20146009@unknown@formal@none@1@S@That proposal had been hailed by environmentalists but despised by utilities because they feared it would limit their growth.@@@@1@19@@oe@2-2-2013
20146010@unknown@formal@none@1@S@It also would junk an innovative market-based system for trading emissions credits among polluters.@@@@1@14@@oe@2-2-2013
20146011@unknown@formal@none@1@S@In addition, it is believed to offer a cost-sharing mechanism that would help subsidize the clean-up costs for the dirtiest coal-fired utilities in the country, sparing their customers from exorbitant jumps in their electric bills.@@@@1@35@@oe@2-2-2013
20146012@unknown@formal@none@1@S@The administration, sticking to its vow of avoiding tax increases, has staunchly opposed cost-sharing.@@@@1@14@@oe@2-2-2013
20146013@unknown@formal@none@1@S@Mr. Dingell's staff was expected to present its acid-rain alternative to other committee members, apparently in an attempt to appease Midwestern lawmakers from high-polluting states who insist on cost-sharing.@@@@1@29@@oe@2-2-2013
20146014@unknown@formal@none@1@S@It isn't clear, however, whether support for the proposal will be broad enough to pose a serious challenge to the White House's acid-rain plan.@@@@1@24@@oe@2-2-2013
20146015@unknown@formal@none@1@S@While the new proposal might appeal to the dirtiest utilities, it might not win the support of utilities, many in the West, that already have added expensive cleanup equipment or burn cleaner-burning fuels.@@@@1@33@@oe@2-2-2013
20146016@unknown@formal@none@1@S@Lawmakers representing some of the cleaner utilities have been quietly working with the White House to devise ways to tinker with the administration bill to address their acid-rain concerns.@@@@1@29@@oe@2-2-2013
20147001@unknown@formal@none@1@S@American City Business Journals Inc. said its president, Michael K. Russell, will resign rather than relocate to new headquarters in Charlotte, N.C.@@@@1@22@@oe@2-2-2013
20147002@unknown@formal@none@1@S@Mr. Russell, who co-founded the Kansas City, Mo.-based local business publications concern here, said he would have a five-year consulting agreement with the company, which recently underwent an ownership change.@@@@1@30@@oe@2-2-2013
20147003@unknown@formal@none@1@S@Earlier this year Shaw Publishing Inc., Charlotte, acquired 30% of American City and has an agreement to acquire a further 25% from E.W. Scripps Co. next year.@@@@1@27@@oe@2-2-2013
20147004@unknown@formal@none@1@S@Ray Shaw, chairman of American City, said he would assume Mr. Russell's responsibilities if a successor isn't found this month.@@@@1@20@@oe@2-2-2013
20148001@unknown@formal@none@1@S@A nickname for measures to stop the market from plunging too far too fast.@@@@1@14@@oe@2-2-2013
20148002@unknown@formal@none@1@S@Several moves were taken following the October 1987 crash to coordinate -- and sometimes deliberately disconnect -- the stock and futures markets in times of heightened volatility.@@@@1@27@@oe@2-2-2013
20148003@unknown@formal@none@1@S@On the Big Board, a "side car" is put into effect when the S&P futures rise or fall 12 points.@@@@1@20@@oe@2-2-2013
20148004@unknown@formal@none@1@S@The side car routes program trades into a special computer file that scans for imbalances of buy and sell orders.@@@@1@20@@oe@2-2-2013
20148005@unknown@formal@none@1@S@On the Chicago Mercantile Exchange, S&P 500 futures are not allowed to fall further than 12 points from the previous day's close for half an hour.@@@@1@26@@oe@2-2-2013
20148006@unknown@formal@none@1@S@If, when trading resumes, the S&P futures fall 30 points from the previous day's close, a one-hour trading halt takes effect.@@@@1@21@@oe@2-2-2013
20148007@unknown@formal@none@1@S@Also, the reforms allow the Big Board to halt trading for one hour if the Dow Jones Industrial Average falls 250 points, and for two more hours if the Dow slides an additional 150 points on the same day.@@@@1@39@@oe@2-2-2013
20148008@unknown@formal@none@1@S@DOT System -- The "Designated Order Turnaround" System was launched by the New York Stock Exchange in March 1976, to offer automatic, high-speed order processing.@@@@1@25@@oe@2-2-2013
20148009@unknown@formal@none@1@S@A faster version, the SuperDot, was launched in 1984.@@@@1@9@@oe@2-2-2013
20148010@unknown@formal@none@1@S@Used by program traders and others to zip orders into the exchange, SuperDot handles about 80% of all orders entered at the exchange.@@@@1@23@@oe@2-2-2013
20148011@unknown@formal@none@1@S@Futures Contracts -- Obligations to buy (for those who have purchased a contract) or deliver (for those who sold one) a quantity of the underlying commodity or financial instrument at the agreed-upon price by a certain date.@@@@1@37@@oe@2-2-2013
20148012@unknown@formal@none@1@S@Most contracts are simply nullified by an opposite trade before they come due.@@@@1@13@@oe@2-2-2013
20148013@unknown@formal@none@1@S@Indexing -- Many investors, mainly institutions, follow an investment strategy of buying and holding a mix of stocks to match the performance of a broad stock-market barometer such as the S&P 500.@@@@1@32@@oe@2-2-2013
20148014@unknown@formal@none@1@S@Many institutional index funds are active program traders, swapping their stocks for futures when profitable to do so.@@@@1@18@@oe@2-2-2013
20148015@unknown@formal@none@1@S@Program trading -- A wide range of computer-assisted portfolio trading strategies involving the simultaneous purchase or sale of 15 or more stocks.@@@@1@22@@oe@2-2-2013
20148016@unknown@formal@none@1@S@Quant -- Generally, any Wall Street analyst who employs quantitive research techniques.@@@@1@12@@oe@2-2-2013
20148017@unknown@formal@none@1@S@The newest breed, also called "rocket scientists" because of their backgrounds in physics and mathematics, devise the complex hedging and trading strategies that are popularly known as program trading.@@@@1@29@@oe@2-2-2013
20148018@unknown@formal@none@1@S@Stock-index arbitrage -- Buying or selling baskets of stocks while at the same time executing offsetting trades in stock-index futures or options.@@@@1@22@@oe@2-2-2013
20148019@unknown@formal@none@1@S@Traders profit by trying to capture fleeting price discrepancies between stocks and the index futures or options.@@@@1@17@@oe@2-2-2013
20148020@unknown@formal@none@1@S@If stocks are temporarily "cheaper" than futures, for example, an arbitrager will buy stocks and sell futures.@@@@1@17@@oe@2-2-2013
20148021@unknown@formal@none@1@S@Stock-index futures -- Contracts to buy or sell the cash value of a stock index by a certain date.@@@@1@19@@oe@2-2-2013
20148022@unknown@formal@none@1@S@The cash value is determined by multiplying the index number by a specified amount.@@@@1@14@@oe@2-2-2013
20148023@unknown@formal@none@1@S@The most common program-trading vehicles are futures contracts on Standard & poor's 500-stock index (traded on the Chicago Mercantile Exchange); the Major Market Index, a 20-stock index that mimics the Dow Jones Industrial Average (traded on the chicago Board of Trade); and the S&P 100 options (traded on the Chicago Board Options Exchange, and based on 100 stocks selected from the S&P 500).@@@@1@63@@oe@2-2-2013
20148024@unknown@formal@none@1@S@Stock-index options -- Options give holders the right, but not the obligation, to buy (a call) or sell (a put) a specified amount of an underlying investment by a certin date at a preset price, known as the strike price.@@@@1@40@@oe@2-2-2013
20148025@unknown@formal@none@1@S@For stock indexes, the underlying investment may be a stock-index futures contract or the cash value of a stock index.@@@@1@20@@oe@2-2-2013
20148026@unknown@formal@none@1@S@For example, there are options on the S&P 500 futures contract and on the S&P 100 index.@@@@1@17@@oe@2-2-2013
20148027@unknown@formal@none@1@S@Uptick -- An expression signifying that a transaction in a listed security occurred at a higher price than the previous transaction in that security.@@@@1@24@@oe@2-2-2013
20149001@unknown@formal@none@1@S@New York financier Saul Steinberg sought federal permission to buy more than 15% of United Airlines' parent, UAL Corp., saying he might seek control of the nation's second-largest airline.@@@@1@29@@oe@2-2-2013
20149002@unknown@formal@none@1@S@Although takeover experts said they doubted Mr. Steinberg will make a bid by himself, the application by his Reliance Group Holdings Inc. could signal his interest in helping revive a failed labor-management bid.@@@@1@33@@oe@2-2-2013
20149003@unknown@formal@none@1@S@Such an application for federal antitrust clearance is necessary for any investor that might seek control.@@@@1@16@@oe@2-2-2013
20149004@unknown@formal@none@1@S@But some investors have used such filings to boost the value of their stock holdings, which -- without buying more stock -- they then sold.@@@@1@25@@oe@2-2-2013
20149005@unknown@formal@none@1@S@Takeover stock traders were puzzled by the Reliance filing and cautioned that it doesn't mean Mr. Steinberg will definitely seek control.@@@@1@21@@oe@2-2-2013
20149006@unknown@formal@none@1@S@"Maybe he just wants to make something happen," said one takeover expert.@@@@1@12@@oe@2-2-2013
20149007@unknown@formal@none@1@S@One investment banker said Mr. Steinberg may be trying to position himself as a friendly investor who could help UAL Chairman Stephen Wolf revive a failed labor-management bid.@@@@1@28@@oe@2-2-2013
20149008@unknown@formal@none@1@S@Mr. Steinberg, he suggested, could replace British Airways PLC, which has withdrawn from the buy-out group.@@@@1@16@@oe@2-2-2013
20149009@unknown@formal@none@1@S@Reliance had already bought and sold UAL stock at a big profit without making an antitrust filing before the collapse Oct. 13 of the $6.79 billion, $300-a-share labor-management buy-out.@@@@1@29@@oe@2-2-2013
20149010@unknown@formal@none@1@S@Reliance acquired a 7% UAL stake early this year at an average cost of $110 a share, and reduced its stake to 4.7% after UAL accepted the bid at prices higher than $282 a share.@@@@1@35@@oe@2-2-2013
20149011@unknown@formal@none@1@S@Market sources said Reliance has already sold its entire UAL stake, and thus wouldn't have any reason to file the application simply to boost the value of its stock.@@@@1@29@@oe@2-2-2013
20149012@unknown@formal@none@1@S@But the exact amount of Reliance's current holding hasn't been formally disclosed.@@@@1@12@@oe@2-2-2013
20149013@unknown@formal@none@1@S@The filing adds a new twist to market speculation that Coniston Partners, a New York money manager, has bought more than 5% of UAL stock and may challenge the UAL board's decision last week to remain independent.@@@@1@37@@oe@2-2-2013
20149014@unknown@formal@none@1@S@Speculation about Coniston has caused the stock to rebound from a low of $145.@@@@1@14@@oe@2-2-2013
20149015@unknown@formal@none@1@S@UAL's announcement came after the market closed yesterday.@@@@1@8@@oe@2-2-2013
20149016@unknown@formal@none@1@S@In composite New York Stock Exchange trading, the shares closed at $177, up $1.50.@@@@1@14@@oe@2-2-2013
20149017@unknown@formal@none@1@S@UAL wouldn't elaborate on a statement that it had been notified of the filing by Reliance.@@@@1@16@@oe@2-2-2013
20149018@unknown@formal@none@1@S@Reliance confirmed the filing but wouldn't elaborate.@@@@1@7@@oe@2-2-2013
20149019@unknown@formal@none@1@S@Some takeover experts were skeptical, saying it was possible that Mr. Steinberg made the filing only to help boost the value of any remaining Reliance stake in UAL.@@@@1@28@@oe@2-2-2013
20149020@unknown@formal@none@1@S@Mr. Steinberg is thought to be on friendly terms with UAL's Mr. Wolf.@@@@1@13@@oe@2-2-2013
20149021@unknown@formal@none@1@S@The investor was instrumental in tapping Mr. Wolf to run the air cargo unit of Tiger International Inc.@@@@1@18@@oe@2-2-2013
20149022@unknown@formal@none@1@S@Mr. Wolf's success in that job helped him land the top job with UAL in December 1987.@@@@1@17@@oe@2-2-2013
20149023@unknown@formal@none@1@S@But any potential acquirer must attempt to reach some kind of accord with the company's employees, primarily its pilots and the powerful machinists' union, which has opposed a takeover.@@@@1@29@@oe@2-2-2013
20150001@unknown@formal@none@1@S@A.L. Williams Corp. was merged into Primerica Corp., New York, after a special meeting of Williams shareholders cleared the transaction, the companies said.@@@@1@23@@oe@2-2-2013
20150002@unknown@formal@none@1@S@Primerica, which had owned nearly 70% of Williams, will pay about 16.7 million shares, currently valued at almost $472 million, for the rest of Williams.@@@@1@25@@oe@2-2-2013
20150003@unknown@formal@none@1@S@The financial-services company will pay 0.82 share for each Williams share.@@@@1@11@@oe@2-2-2013
20150004@unknown@formal@none@1@S@Williams shares, which were to be delisted from the New York Stock Exchange after the close of composite trading yesterday, closed at $23.25, off 12.5 cents.@@@@1@26@@oe@2-2-2013
20150005@unknown@formal@none@1@S@Primerica closed at $28.25, down 50 cents.@@@@1@7@@oe@2-2-2013
20150006@unknown@formal@none@1@S@Williams, Duluth, Ga., is an insurance and financial-services holding company.@@@@1@10@@oe@2-2-2013
20150007@unknown@formal@none@1@S@Its subsidiaries' services are marketed by closely held A.L. Williams & Associates.@@@@1@12@@oe@2-2-2013
20150008@unknown@formal@none@1@S@Primerica, as expected, also acquired certain assets of the agency and assumed certain of its liabilities.@@@@1@16@@oe@2-2-2013
20150009@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20151001@unknown@formal@none@1@S@Intelogic Trace Inc., San Antonio, Texas, said it bought 2.7 million shares, or about 18%, of its common stock from an unaffiliated shareholder for $3.625 a share, or $9.9 million.@@@@1@30@@oe@2-2-2013
20151002@unknown@formal@none@1@S@The move boosts Intelogic Chairman Asher Edelman's stake to 20% from 16.2% and may help prevent Martin Ackerman from making a run at the computer-services concern.@@@@1@26@@oe@2-2-2013
20151003@unknown@formal@none@1@S@Mr. Ackerman already is seeking to oust Mr. Edelman as chairman of Datapoint Corp., an Intelogic affiliate.@@@@1@17@@oe@2-2-2013
20151004@unknown@formal@none@1@S@The action followed by one day an Intelogic announcement that it will retain an investment banker to explore alternatives "to maximize shareholder value," including the possible sale of the company.@@@@1@30@@oe@2-2-2013
20151005@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Intelogic shares rose 37.5 cents to close at $2.75.@@@@1@17@@oe@2-2-2013
20151006@unknown@formal@none@1@S@Mr. Edelman declined to specify what prompted the recent moves, saying they are meant only to benefit shareholders when "the company is on a roll."@@@@1@25@@oe@2-2-2013
20151007@unknown@formal@none@1@S@He added, "This has nothing to do with Marty Ackerman and it is not designed, particularly, to take the company private."@@@@1@21@@oe@2-2-2013
20151008@unknown@formal@none@1@S@But Mr. Ackerman said the buy-back, and the above-market price paid, prove that Mr. Edelman is running scared.@@@@1@18@@oe@2-2-2013
20152001@unknown@formal@none@1@S@Dow Jones & Co. said it extended its $18-a-share offer for Telerate Inc. common stock until 5 p.m. EST Nov. 9.@@@@1@21@@oe@2-2-2013
20152002@unknown@formal@none@1@S@The offer, valued at about $576 million for the 33% of Telerate that Dow Jones doesn't already own, had been set to expire Nov. 6.@@@@1@25@@oe@2-2-2013
20152003@unknown@formal@none@1@S@Dow Jones, which owns about 64 million of Telerate's 95 million common shares outstanding, said that about 24,000 shares have been tendered under its offer.@@@@1@25@@oe@2-2-2013
20152004@unknown@formal@none@1@S@Telerate's two independent directors have rejected the offer as inadequate.@@@@1@10@@oe@2-2-2013
20152005@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Telerate shares closed at $19.50, up 12.5 cents.@@@@1@17@@oe@2-2-2013
20152006@unknown@formal@none@1@S@Telerate provides an electronic financial information network.@@@@1@7@@oe@2-2-2013
20152007@unknown@formal@none@1@S@Dow Jones publishes The Wall Street Journal, Barron's magazine, and community newspapers and operates financial news services and computer data bases.@@@@1@21@@oe@2-2-2013
20153001@unknown@formal@none@1@S@Rockwell International Corp. reported flat operating earnings for the fourth quarter ended Sept. 30.@@@@1@14@@oe@2-2-2013
20153002@unknown@formal@none@1@S@The aerospace, automotive supply, electronics and printing-press concern also indicated that the first half of fiscal 1990 could be rough.@@@@1@20@@oe@2-2-2013
20153003@unknown@formal@none@1@S@In an interview, Donald Beall, chairman, said first-half profit certainly would trail the past year's, primarily because of weakness in the heavy-truck and passenger-car markets.@@@@1@25@@oe@2-2-2013
20153004@unknown@formal@none@1@S@Still, he added, if the industrial sector remains relatively stable, Rockwell should be able to recover in the second half and about equal fiscal 1989's operating profit of $630.9 million.@@@@1@30@@oe@2-2-2013
20153005@unknown@formal@none@1@S@For fiscal 1989's fourth quarter, Rockwell's net income totaled $126.1 million, or 50 cents a share.@@@@1@16@@oe@2-2-2013
20153006@unknown@formal@none@1@S@That compares with operating earnings of $132.9 million, or 49 cents a share, the year earlier.@@@@1@16@@oe@2-2-2013
20153007@unknown@formal@none@1@S@The prior-year period includes a one-time favorable tax adjustment on the B-1B bomber program and another gain from sale of the industrial sewing-machine business, which made net $185.9 million, or 70 cents a share.@@@@1@34@@oe@2-2-2013
20153008@unknown@formal@none@1@S@Sales rose 4% to $3.28 billion from $3.16 billion.@@@@1@9@@oe@2-2-2013
20153009@unknown@formal@none@1@S@Mr. Beall said that he was generally pleased with the latest numbers and cited a particularly strong showing by the company's electronics segment.@@@@1@23@@oe@2-2-2013
20153010@unknown@formal@none@1@S@Overall, pretax electronics earnings soared 12% to $107.9 million from $96.4 million.@@@@1@12@@oe@2-2-2013
20153011@unknown@formal@none@1@S@All four areas had higher revenue for the three months ended Sept. 30.@@@@1@13@@oe@2-2-2013
20153012@unknown@formal@none@1@S@For the year, electronics emerged as Rockwell's largest sector in terms of sales and earnings, muscling out aerospace for the first time.@@@@1@22@@oe@2-2-2013
20153013@unknown@formal@none@1@S@The graphics business, which also was singled out by the chairman as a positive, saw its operating earnings for the quarter jump 79% to $42.1 million from $23.5 million.@@@@1@29@@oe@2-2-2013
20153014@unknown@formal@none@1@S@For the year, bolstered by the introduction of the Colorliner newspaper-printing press, graphics earnings almost doubled.@@@@1@16@@oe@2-2-2013
20153015@unknown@formal@none@1@S@Aerospace earnings sagged 37% for the quarter and 15% for the year, largely due to lower B-1B program profit; the last of the bombers rolled out in April 1988.@@@@1@29@@oe@2-2-2013
20153016@unknown@formal@none@1@S@That was partially offset by the resumption of space shuttle flights and increased demand for expendable launch-vehicle engines.@@@@1@18@@oe@2-2-2013
20153017@unknown@formal@none@1@S@The company also took hits in the fourth quarters of 1989 and 1988 on a fixed-price weapons-modernization development program -- probably the C-130 gunship, according to analysts.@@@@1@27@@oe@2-2-2013
20153018@unknown@formal@none@1@S@For fiscal 1989, the company posted net of $734.9 million, or $2.87 a share, down from $811.9 million, or $3.04 a share, in fiscal 1988.@@@@1@25@@oe@2-2-2013
20153019@unknown@formal@none@1@S@Excluding one-time additions to profit in each year, earnings per share were $2.47, up 7.4% from $2.30 in fiscal 1988.@@@@1@20@@oe@2-2-2013
20153020@unknown@formal@none@1@S@Sales for the year rose 5% to $12.52 billion from $11.95 billion in fiscal 1988.@@@@1@15@@oe@2-2-2013
20154001@unknown@formal@none@1@S@Dell Computer Corp. said it cut prices on several of its personal computer lines by 5% to 17%.@@@@1@18@@oe@2-2-2013
20154002@unknown@formal@none@1@S@The Austin, Texas-based company, which specializes in the direct sale of personal computers and accessories, said its price cuts include a $100 reduction on its System 210 computer with 512 kilobytes of memory, a 40-megabyte hard disk and a color monitor.@@@@1@41@@oe@2-2-2013
20154003@unknown@formal@none@1@S@That package now sells for about $2,099.@@@@1@7@@oe@2-2-2013
20154004@unknown@formal@none@1@S@A computer using the more-advanced Intel Corp. 386 microprocessor, with four megabytes of memory and a 100-megabyte hard disk now sells for $5,699, down from $6,799.@@@@1@26@@oe@2-2-2013
20154005@unknown@formal@none@1@S@Personal computer prices for models using the Intel 286 and 386 microprocessors, which the Dell models use, generally have been coming down as chip prices have fallen.@@@@1@27@@oe@2-2-2013
20155001@unknown@formal@none@1@S@World sugar futures prices soared on rumors that Brazil, a major grower and exporter, might not ship sugar this crop year and next.@@@@1@23@@oe@2-2-2013
20155002@unknown@formal@none@1@S@Prices also were boosted by another rumor that Mexico, usually a large producer and exporter, might have to buy a large quantity of sugar.@@@@1@24@@oe@2-2-2013
20155003@unknown@formal@none@1@S@Although traders rushed to buy futures contracts, many remained skeptical about the Brazilian development, which couldn't be confirmed, analysts said.@@@@1@20@@oe@2-2-2013
20155004@unknown@formal@none@1@S@The March and May contracts rose to fresh life-of-contract highs of 14.54 cents and 14.28 cents at their best levels of the day.@@@@1@23@@oe@2-2-2013
20155005@unknown@formal@none@1@S@The March delivery, which has no limits, settled at 14.53 cents, up 0.56 cent a pound.@@@@1@16@@oe@2-2-2013
20155006@unknown@formal@none@1@S@The May contract, which also is without restraints, ended with a gain of 0.54 cent to 14.26 cents.@@@@1@18@@oe@2-2-2013
20155007@unknown@formal@none@1@S@The July delivery rose its daily permissible limit of 0.50 cent a pound to 14.00 cents, while other contract months showed near-limit advances.@@@@1@23@@oe@2-2-2013
20155008@unknown@formal@none@1@S@According to reports carried by various news services, the Brazilian government told its sugar producers that they won't be allowed to export sugar during the current 1989-90 season, which began May 1, and the 1990-91 season so that it can be used to produce alcohol for automobile fuel.@@@@1@48@@oe@2-2-2013
20155009@unknown@formal@none@1@S@One analyst, Arthur Stevenson, of Prudential-Bache Securities, New York, estimated that 65% or more of Brazil's newly made automobiles run on alcohol and can't use gasoline.@@@@1@26@@oe@2-2-2013
20155010@unknown@formal@none@1@S@"This is a demand that must be met, regardless of the price of oil," said Mr. Stevenson.@@@@1@17@@oe@2-2-2013
20155011@unknown@formal@none@1@S@Brazil is the third-largest producer and the fifth-largest exporter of sugar in the world.@@@@1@14@@oe@2-2-2013
20155012@unknown@formal@none@1@S@A shift to producing more alcohol and less sugar had been expected, but the latest news, if true, indicates a more drastic shift than had been anticipated.@@@@1@27@@oe@2-2-2013
20155013@unknown@formal@none@1@S@During the current crop year, Brazil was expected to produce 6.9 million tons of sugar, a drop from 8.1 million tons in 1988-89.@@@@1@23@@oe@2-2-2013
20155014@unknown@formal@none@1@S@Its 1989-90 exports were expected to total 645,000 tons in contrast to shipments of 1.5 million tons in@@@@1@18@@oe@2-2-2013
20155015@unknown@formal@none@1@S@"It is these 645,000 tons that are in question for this crop year," explained Judith Ganes, analyst for Shearson Lehman Hutton, New York.@@@@1@23@@oe@2-2-2013
20155016@unknown@formal@none@1@S@"Producers were granted the right earlier this year to ship sugar and the export licenses were expected to have begun to be issued" yesterday.@@@@1@24@@oe@2-2-2013
20155017@unknown@formal@none@1@S@As a result, Ms. Ganes said, it is believed that little or no sugar from the 1989-90 crop has been shipped yet, even though the crop year is six months old.@@@@1@31@@oe@2-2-2013
20155018@unknown@formal@none@1@S@More than a half of all sugar produced in Brazil goes for alcohol production, according to Ms. Ganes.@@@@1@18@@oe@2-2-2013
20155019@unknown@formal@none@1@S@Also, there has been a switch in the past decade to planting of orange trees in areas that were previously used for cane, and this change is being felt now, she said.@@@@1@32@@oe@2-2-2013
20155020@unknown@formal@none@1@S@Most important, Ms. Ganes noted, "Brazilian officials said that no decision has as yet been made on the suspension of exports."@@@@1@21@@oe@2-2-2013
20155021@unknown@formal@none@1@S@Thomas Oxnard, sugar analyst for PaineWebber in Hackensack, N.J., said: "I am highly skeptical that Brazil will curtail sugar exports, particularly with the price of sugar at over 14 cents a pound."@@@@1@32@@oe@2-2-2013
20155022@unknown@formal@none@1@S@Above all, Mr. Oxnard noted, the situation is extremely confused.@@@@1@10@@oe@2-2-2013
20155023@unknown@formal@none@1@S@"Professional sugar people here who have strong contacts with the Brazilian sugar industry have been unable to confirm the reports or get enough information to clarify the situation," he said.@@@@1@30@@oe@2-2-2013
20155024@unknown@formal@none@1@S@"It's the type of nervous atmosphere in which a report can be put out, such as the one saying exports will be suspended, and no one can confirm it."@@@@1@29@@oe@2-2-2013
20155025@unknown@formal@none@1@S@Mr. Oxnard observed that the situation in Brazil is also very complicated.@@@@1@12@@oe@2-2-2013
20155026@unknown@formal@none@1@S@On the one hand, Brazil started an ethanol program about 15 years ago to fuel a huge portion of its national fleet of cars and is now committed to this program.@@@@1@31@@oe@2-2-2013
20155027@unknown@formal@none@1@S@"It has to weigh, on the other hand, the relatively high price of sugar it can earn on the export market in making decisions as to whether to produce sugar or alcohol," Mr. Oxnard said.@@@@1@35@@oe@2-2-2013
20155028@unknown@formal@none@1@S@Mexico, which is normally a sugar exporter, has had production problems in the past two years, analysts said.@@@@1@18@@oe@2-2-2013
20155029@unknown@formal@none@1@S@Last year, it had to buy sugar on the world market to meet export commitments, they noted.@@@@1@17@@oe@2-2-2013
20155030@unknown@formal@none@1@S@This year it is expected to be a net importer and is said to be seeking to buy about 200,000 tons of sugar to meet internal needs, analysts said.@@@@1@29@@oe@2-2-2013
20155031@unknown@formal@none@1@S@In other commodity markets yesterday:@@@@1@5@@oe@2-2-2013
20155032@unknown@formal@none@1@S@ENERGY:@@@@1@1@@oe@2-2-2013
20155033@unknown@formal@none@1@S@Petroleum futures were generally higher with heating oil leading the way.@@@@1@11@@oe@2-2-2013
20155034@unknown@formal@none@1@S@On the New York Mercantile Exchange, heating oil for December delivery increased 1.25 cents to settle at 60.36 cents a gallon.@@@@1@21@@oe@2-2-2013
20155035@unknown@formal@none@1@S@Gasoline futures were mixed to unchanged.@@@@1@6@@oe@2-2-2013
20155036@unknown@formal@none@1@S@But the strength in heating oil helped push up crude oil.@@@@1@11@@oe@2-2-2013
20155037@unknown@formal@none@1@S@West Texas Intermediate crude for December delivery rose 13 cents a barrel to settle at $20.07.@@@@1@16@@oe@2-2-2013
20155038@unknown@formal@none@1@S@The firmness in heating oil was attributed to colder weather in parts of the U.S. and to the latest weekly report by the American Petroleum Institute, which showed a decline in inventories of the fuel.@@@@1@35@@oe@2-2-2013
20155039@unknown@formal@none@1@S@GRAINS AND SOYBEANS:@@@@1@3@@oe@2-2-2013
20155040@unknown@formal@none@1@S@Prices closed mostly higher in relatively light trading as farmers continued to withhold their crops from the marketplace in the hope of higher prices to come.@@@@1@26@@oe@2-2-2013
20155041@unknown@formal@none@1@S@Trading was muted in part because of the observance of All Saints' Day across much of Europe.@@@@1@17@@oe@2-2-2013
20155042@unknown@formal@none@1@S@Continued export demand also supported prices.@@@@1@6@@oe@2-2-2013
20155043@unknown@formal@none@1@S@As an indicator of the tight grain supply situation in the U.S., market analysts said that late Tuesday the Chinese government, which often buys U.S. grains in quantity, turned instead to Britain to buy 500,000 metric tons of wheat.@@@@1@39@@oe@2-2-2013
20155044@unknown@formal@none@1@S@Traders said prices also were supported by widespread rumors that the Soviet Union is on the verge of receiving most favored nation status from the U.S.@@@@1@26@@oe@2-2-2013
20155045@unknown@formal@none@1@S@That designation would, among other things, provide more generous credit terms under which the Soviets could purchase grain.@@@@1@18@@oe@2-2-2013
20155046@unknown@formal@none@1@S@The Soviets are widely believed to need additional supplies, despite running up record one-month purchases of 310 million bushels of corn in October.@@@@1@23@@oe@2-2-2013
20155047@unknown@formal@none@1@S@COPPER:@@@@1@1@@oe@2-2-2013
20155048@unknown@formal@none@1@S@Futures prices rose, extending Tuesday's gains.@@@@1@6@@oe@2-2-2013
20155049@unknown@formal@none@1@S@The December contract advanced 2.50 cents a pound to $1.1650.@@@@1@10@@oe@2-2-2013
20155050@unknown@formal@none@1@S@Buying for the most part carried over from the previous session, and traders apparently ignored reports that a Chilean mine strike may have ended almost before it began, an analyst said.@@@@1@31@@oe@2-2-2013
20155051@unknown@formal@none@1@S@According to news service reports, most workers at the Disputado mines owned by Exxon Corp. agreed to a new two-year wage contract that includes a 5% increase and other benefits.@@@@1@30@@oe@2-2-2013
20155052@unknown@formal@none@1@S@However, some workers haven't yet accepted the new contract and are continuing negotiations, the analyst said.@@@@1@16@@oe@2-2-2013
20155053@unknown@formal@none@1@S@Separately, Reuter reported that the Papua-New Guinea government urged its Parliament to extend a state of emergency in copper-rich Bougainville Island for two months.@@@@1@24@@oe@2-2-2013
20155054@unknown@formal@none@1@S@The Bougainville copper mine has been inoperative since May 15 because of attacks by native landowners who want Bougainville to secede from Papua-New Guinea.@@@@1@24@@oe@2-2-2013
20156001@unknown@formal@none@1@S@The parent of Younkers, after failing to find a buyer for the chain of Midwestern department stores, said it will sell a stake in the chain to management and take other steps to reduce its investment in retailing.@@@@1@38@@oe@2-2-2013
20156002@unknown@formal@none@1@S@Equitable of Iowa Cos., Des Moines, had been seeking a buyer for the 36-store Younkers chain since June, when it announced its intention to free up capital to expand its insurance business.@@@@1@32@@oe@2-2-2013
20156003@unknown@formal@none@1@S@But Equitable said it was unable to find a buyer willing to pay what it considers "fair value" for Younkers because of recent turmoil in the bond and stock markets and in retailing.@@@@1@33@@oe@2-2-2013
20156004@unknown@formal@none@1@S@Younkers rang up sales in 1988 of $313 million.@@@@1@9@@oe@2-2-2013
20156005@unknown@formal@none@1@S@It operates stores mostly in Iowa and Nebraska.@@@@1@8@@oe@2-2-2013
20156006@unknown@formal@none@1@S@Younkers management is likely to buy a 10% to 20% interest in the chain in January, said Fred S. Hubbell, Equitable's president and chief executive officer.@@@@1@26@@oe@2-2-2013
20156007@unknown@formal@none@1@S@He said Equitable hopes to eventually reduce its stake in Younkers to less than 50%.@@@@1@15@@oe@2-2-2013
20157001@unknown@formal@none@1@S@Tony Lama Co. said that Equus Investment II Limited Partnership has proposed changing the offer for the company to $13.65 in cash and stock from an all-cash transaction.@@@@1@28@@oe@2-2-2013
20157002@unknown@formal@none@1@S@Under terms of the new proposal, Equus, managed by Equus Capital Corp., Houston, would pay $12 cash and one new preferred share with a liquidation preference of $1.65 a share for each of Tony Lama's 2.1 million shares outstanding.@@@@1@39@@oe@2-2-2013
20157003@unknown@formal@none@1@S@Previously, it offered $13.65 a share in cash, or $29 million.@@@@1@11@@oe@2-2-2013
20157004@unknown@formal@none@1@S@The El Paso, Texas, maker of Western boots and leather accessories said the preferred stock would accrue dividends at a 12% rate, but wouldn't be paid for the first two years.@@@@1@31@@oe@2-2-2013
20157005@unknown@formal@none@1@S@The stock would be redeemed in five years, subject to terms of the surviving company's debt.@@@@1@16@@oe@2-2-2013
20157006@unknown@formal@none@1@S@Neither Equus nor Tony Lama gave a reason for the changed offer and Tony Lama couldn't be reached for comment.@@@@1@20@@oe@2-2-2013
20157007@unknown@formal@none@1@S@However, Tony Lama said it would promptly submit the offer to a special committee of the company's board.@@@@1@18@@oe@2-2-2013
20158001@unknown@formal@none@1@S@Reuters Holdings PLC said Michael Reupke resigned as general manager to pursue unspecified interests, a move the news organization termed an "amicable separation."@@@@1@23@@oe@2-2-2013
20158002@unknown@formal@none@1@S@Mr. Reupke, 52 years old and a 27-year Reuters veteran, had been the information-services company's general manager for only six months.@@@@1@21@@oe@2-2-2013
20158003@unknown@formal@none@1@S@His appointment to that post, which has senior administrative, staff and policy responsibilities, followed a several-year tenure as Reuters's editor in chief.@@@@1@22@@oe@2-2-2013
20158004@unknown@formal@none@1@S@No successor was named, and Mr. Reupke's duties will be split among three other senior Reuters executives, the company said.@@@@1@20@@oe@2-2-2013
20158005@unknown@formal@none@1@S@In a telephone interview, Mr. Reupke said his departure was for "personal reasons," which he declined to specify.@@@@1@18@@oe@2-2-2013
20158006@unknown@formal@none@1@S@"There is no business reason for my departure," nor any disagreement over policy, he added.@@@@1@15@@oe@2-2-2013
20158007@unknown@formal@none@1@S@He also rejected reports that his departure stemmed from disappointment the general manager's post hadn't also led to a board directorship at the London-based news organization.@@@@1@26@@oe@2-2-2013
20158008@unknown@formal@none@1@S@Mr. Reupke was one of three executives on Reuters's eight-person executive committee who didn't also serve on the company's board of directors.@@@@1@22@@oe@2-2-2013
20158009@unknown@formal@none@1@S@"If I were choosing the people of tomorrow, I would have chosen the people who are now on the board," he said.@@@@1@22@@oe@2-2-2013
20158010@unknown@formal@none@1@S@A Reuters spokesman said the departure reflects "no change in strategy or profits."@@@@1@13@@oe@2-2-2013
20158011@unknown@formal@none@1@S@Mark Shepperd, an analyst at UBS Phillips & Drew in London, said, "I suspect (the departure) will be fairly irrelevant for the company.@@@@1@23@@oe@2-2-2013
20158012@unknown@formal@none@1@S@I would be very surprised if his departure signals any change in strategy or change in profit expectations."@@@@1@18@@oe@2-2-2013
20158013@unknown@formal@none@1@S@On London's Stock Exchange, Reuters shares rose five pence to 913 pence ($14.43).@@@@1@13@@oe@2-2-2013
20158014@unknown@formal@none@1@S@In the U.S. over-the-counter market, American depositary shares for Reuters, each representing three shares in the London market, closed unchanged at $43.875.@@@@1@22@@oe@2-2-2013
20158015@unknown@formal@none@1@S@The senior of the three executives who will assume Mr. Reupke's duties is Nigel Judah, 58, finance director and a Reuters board director.@@@@1@23@@oe@2-2-2013
20158016@unknown@formal@none@1@S@Peter Holland, 45, deputy general manager, becomes director of corporate affairs.@@@@1@11@@oe@2-2-2013
20158017@unknown@formal@none@1@S@And Patrick Mannix, 46, international technical manager, becomes director of group quality programs.@@@@1@13@@oe@2-2-2013
20159001@unknown@formal@none@1@S@DD Acquisition Corp., a partnership of Unicorp Canada Corp.'s Kingsbridge Capital Group and Cara Operations Ltd., extended to Nov. 20 its $45-a-share offer for all Dunkin' Donuts Inc. shares outstanding.@@@@1@30@@oe@2-2-2013
20159002@unknown@formal@none@1@S@The offer, which was due to expire yesterday, is conditional on 50.1% of Dunkin' common shares, on a fully diluted basis, being tendered and on the withdrawal of the company's poison pill rights plan.@@@@1@34@@oe@2-2-2013
20159003@unknown@formal@none@1@S@DD Acquisition has launched a suit in a Delaware court seeking the withdrawal of Dunkin's poison pill rights and employee stock ownership plans, which it claims were put in place to deter bidders.@@@@1@33@@oe@2-2-2013
20159004@unknown@formal@none@1@S@DD Acquisition said 2.2 million shares, or about 38.5% of the shares outstanding, have been tendered under its offer.@@@@1@19@@oe@2-2-2013
20159005@unknown@formal@none@1@S@The partners said they already hold 15% of all shares outstanding.@@@@1@11@@oe@2-2-2013
20159006@unknown@formal@none@1@S@Dunkin' has set Nov. 10 as the deadline for the receipt of any competing bids.@@@@1@15@@oe@2-2-2013
20159007@unknown@formal@none@1@S@DD Acquisition said the extension is to allow this process to be completed.@@@@1@13@@oe@2-2-2013
20159008@unknown@formal@none@1@S@Dunkin' is based in Randolph, Mass.@@@@1@6@@oe@2-2-2013
20159009@unknown@formal@none@1@S@Cara, a food services chain operator and Unicorp, a holding company, are based in Toronto.@@@@1@15@@oe@2-2-2013
20160001@unknown@formal@none@1@S@Savin Corp. reported a third-quarter net loss of $35.2 million, or 31 cents a share, compared with year-earlier profit of $3.8 million, or one cent a share.@@@@1@27@@oe@2-2-2013
20160002@unknown@formal@none@1@S@A spokesman for the Stamford, Conn.based company said operations had a loss of $5.5 million for the quarter; in addition, the loss was magnified by nonrecurring charges totaling $23.5 million and $8.2 million in asset-valuation adjustments that he described as "unusual."@@@@1@41@@oe@2-2-2013
20160003@unknown@formal@none@1@S@The charges were partly offset by a $2 million gain on the sale of investments of two joint ventures, he said.@@@@1@21@@oe@2-2-2013
20160004@unknown@formal@none@1@S@Revenue declined 8% to $85.7 million, from $93.3 million a year earlier.@@@@1@12@@oe@2-2-2013
20160005@unknown@formal@none@1@S@Savin cited "a general softening in the demand for office products in the market segments in which Savin competes.@@@@1@19@@oe@2-2-2013
20161001@unknown@formal@none@1@S@Hadson Corp. said it expects to report a third-quarter net loss of $17 million to $19 million because of special reserves and continued low natural-gas prices.@@@@1@26@@oe@2-2-2013
20161002@unknown@formal@none@1@S@The Oklahoma City energy and defense concern said it will record a $7.5 million reserve for its defense group, including a $4.7 million charge related to problems under a fixed-price development contract and $2.8 million in overhead costs that won't be reimbursed.@@@@1@42@@oe@2-2-2013
20161003@unknown@formal@none@1@S@In addition, Hadson said it will write off about $3.5 million in costs related to international exploration leases where exploration efforts have been unsuccessful.@@@@1@24@@oe@2-2-2013
20161004@unknown@formal@none@1@S@The company also cited interest costs and amortization of goodwill as factors in the loss.@@@@1@15@@oe@2-2-2013
20161005@unknown@formal@none@1@S@A year earlier, net income was $2.1 million, or six cents a share, on revenue of $169.9 million.@@@@1@18@@oe@2-2-2013
20162001@unknown@formal@none@1@S@A lack of enthusiasm with the latest economic data hampered the stock market's bid to extend Tuesday's sharp gains, as prices closed slightly higher in sluggish trading.@@@@1@27@@oe@2-2-2013
20162002@unknown@formal@none@1@S@While renewed optimism about the outlook for takeover activity boosted several so-called deal stocks, traders said profit-taking weighed on the market, with blue-chips bearing the brunt of the selling.@@@@1@29@@oe@2-2-2013
20162003@unknown@formal@none@1@S@The Dow Jones Industrial Average, which had jumped 41.60 points on Tuesday, drifted on either side of its previous close and finished with a gain of just 0.82 at 2645.90.@@@@1@30@@oe@2-2-2013
20162004@unknown@formal@none@1@S@Standard & Poor's 500-Stock Index added 0.84 to 341.20; the rise was equivalent to a gain of about six points in the industrial average.@@@@1@24@@oe@2-2-2013
20162005@unknown@formal@none@1@S@The Dow Jones Equity Market Index gained 0.99 to 319.75 and the New York Stock Exchange Composite Index went up 0.60 to 188.84.@@@@1@23@@oe@2-2-2013
20162006@unknown@formal@none@1@S@Advancing stocks led decliners on the New York Stock Exchange by 847 to 644.@@@@1@14@@oe@2-2-2013
20162007@unknown@formal@none@1@S@Big Board volume amounted to 154,240,000 shares, down from 176.1 million Tuesday.@@@@1@12@@oe@2-2-2013
20162008@unknown@formal@none@1@S@The October survey of corporate purchasing managers, as expected, provided evidence that economic growth remains subdued.@@@@1@16@@oe@2-2-2013
20162009@unknown@formal@none@1@S@An index of economic activity drawn from the survey stood last month at 47.6%; a reading above 50% would have indicated that the manufacturing sector was improving.@@@@1@27@@oe@2-2-2013
20162010@unknown@formal@none@1@S@But with the index proving somewhat better than expected and the widely anticipated report on October employment scheduled to arrive tomorrow, stock prices firmed only modestly in response to the report and then faltered.@@@@1@34@@oe@2-2-2013
20162011@unknown@formal@none@1@S@"This market's still going through its pains," said Philip Puccio, head of equity trading at Prudential-Bache Securities.@@@@1@17@@oe@2-2-2013
20162012@unknown@formal@none@1@S@"The psychology is still: `We want (stocks) up, but if they don't carry we're going to sell them.'"@@@@1@18@@oe@2-2-2013
20162013@unknown@formal@none@1@S@Uncertainty about the prospects for further action to curtail stock-index arbitrage, a form of program trading blamed for recent volatility in the market, also contributed to its lack of direction, Mr. Puccio said.@@@@1@33@@oe@2-2-2013
20162014@unknown@formal@none@1@S@Arbitrage-related trading during the session was confined largely to a round of buy programs near the close, which helped offset the impact of profit-taking among blue chips.@@@@1@27@@oe@2-2-2013
20162015@unknown@formal@none@1@S@Trading is expected to remain subdued as the market awaits tomorrow's release of the jobs data with the hope that it will point toward a decline in interest rates.@@@@1@29@@oe@2-2-2013
20162016@unknown@formal@none@1@S@"I sense that some people are reluctant to stick their necks out in any aggressive way until after the figures come out," said Richard Eakle, president of Eakle Associates, Fair Haven,@@@@1@31@@oe@2-2-2013
20162017@unknown@formal@none@1@S@Campbell Soup jumped 3 3/8 to 47 1/8 as the resignation of R. Gordon McGovern as president and chief executive officer sparked a revival of rumors that the company could become a takeover target.@@@@1@34@@oe@2-2-2013
20162018@unknown@formal@none@1@S@Prudential-Bache Securities boosted the stock's short-term investment rating in response to the departure; analyst John McMillin said he believes the company will turn to new management "that's more financially oriented."@@@@1@30@@oe@2-2-2013
20162019@unknown@formal@none@1@S@Other rumored takeover and restructuring candidates to attract buyers included Woolworth, which went up 1 3/4 to 59 1/2; Avon Products, up 1 3/4 to 29 1/4; Paramount Communications, up 2 to 57 7/8, and Ferro, up 2 5/8 to 28 3/4.@@@@1@42@@oe@2-2-2013
20162020@unknown@formal@none@1@S@Upjohn, a rumored target within the drug industry, advanced 7/8 to 38 7/8.@@@@1@13@@oe@2-2-2013
20162021@unknown@formal@none@1@S@The company said it plans a fourth-quarter charge, which it didn't specify, for an early-retirement program.@@@@1@16@@oe@2-2-2013
20162022@unknown@formal@none@1@S@AMR climbed 1 3/4 to 73 1/8 amid rumors that New York developer Donald Trump was seeking financing to mount a new, lower offer for the parent company of American Airlines.@@@@1@31@@oe@2-2-2013
20162023@unknown@formal@none@1@S@Mr. Trump withdrew a $120-a-share bid last month.@@@@1@8@@oe@2-2-2013
20162024@unknown@formal@none@1@S@UAL rose 1 1/2 to 177.@@@@1@6@@oe@2-2-2013
20162025@unknown@formal@none@1@S@Drexel Burnham Lambert analyst Michael Derchin said he sees a 70% chance that the parent of United Airlines, the target of a failed $300-a-share offer from a labor-management group, will be acquired or restructured within six months.@@@@1@37@@oe@2-2-2013
20162026@unknown@formal@none@1@S@Georgia Gulf added 1 3/4 to 51 1/4 after NL Industries, controlled by Dallas investor Harold Simmons, offered to acquire the stock it doesn't already own for $50 a share.@@@@1@30@@oe@2-2-2013
20162027@unknown@formal@none@1@S@NL, which closed unchanged at 22 3/4, has a stake of just under 10%.@@@@1@14@@oe@2-2-2013
20162028@unknown@formal@none@1@S@Great Northern Nekoosa, which surged 20 1/8 Tuesday after Georgia-Pacific launched a $3.18 billion offer for the company, dropped 1 3/8 to 61 1/2 in Big Board composite trading of 5.1 million shares.@@@@1@33@@oe@2-2-2013
20162029@unknown@formal@none@1@S@Georgia-Pacific, which went down 2 1/2 Tuesday, lost another 1/2 to 50 3/8.@@@@1@13@@oe@2-2-2013
20162030@unknown@formal@none@1@S@Other paper and forest-products stocks closed mixed.@@@@1@7@@oe@2-2-2013
20162031@unknown@formal@none@1@S@Mead rose 3/4 to 39 1/2, Federal Paper Board added 1/2 to 24 3/8 and Scott Paper gained 1/2 to 48 3/8, while International Paper fell 7/8 to 48 7/8, Champion International lost 3/8 to 31 1/2 and Louisiana-Pacific dropped 1/8 to 40 1/4.@@@@1@44@@oe@2-2-2013
20162032@unknown@formal@none@1@S@Texaco rose 3/4 to 53 3/8 as 4.4 million shares changed hands.@@@@1@12@@oe@2-2-2013
20162033@unknown@formal@none@1@S@Most of the volume came from trades designed to capture the stock's next dividend; Texaco has a yield of 5.6% and goes ex-dividend today.@@@@1@24@@oe@2-2-2013
20162034@unknown@formal@none@1@S@Santa Fe Pacific dropped 1 1/8 to 17 3/4.@@@@1@9@@oe@2-2-2013
20162035@unknown@formal@none@1@S@The company's proposal to sell a 20% stake in its real-estate unit for around $400 million has caused analysts to consider whether to cut their estimates of Santa Fe's asset value.@@@@1@31@@oe@2-2-2013
20162036@unknown@formal@none@1@S@GenCorp tumbled 2 to 14.@@@@1@5@@oe@2-2-2013
20162037@unknown@formal@none@1@S@The company forecast that fourth-quarter income from continuing operations would be "significantly" lower than a year earlier.@@@@1@17@@oe@2-2-2013
20162038@unknown@formal@none@1@S@Allergan went up 1/2 to 19 3/8.@@@@1@7@@oe@2-2-2013
20162039@unknown@formal@none@1@S@The Food and Drug Administration allowed the company to begin marketing a new lens for use in cataract patients.@@@@1@19@@oe@2-2-2013
20162040@unknown@formal@none@1@S@The American Stock Exchange Market Value Index gained 1.56 to 372.14.@@@@1@11@@oe@2-2-2013
20162041@unknown@formal@none@1@S@Volume totaled 11,390,000 shares.@@@@1@4@@oe@2-2-2013
20162042@unknown@formal@none@1@S@Old Spaghetti Warehouse rose 1 to 16 1/8.@@@@1@8@@oe@2-2-2013
20162043@unknown@formal@none@1@S@Its net income for the September quarter rose about 41% from a year ago.@@@@1@14@@oe@2-2-2013
20163001@unknown@formal@none@1@S@Freeport-McMoRan Inc. said it will convert its Freeport-McMoRan Energy Partners Ltd. partnership into a publicly traded company through the exchange of units of the partnership for common shares.@@@@1@28@@oe@2-2-2013
20163002@unknown@formal@none@1@S@The company said the restructuring isn't expected to have any impact, adverse or otherwise, on its financial results.@@@@1@18@@oe@2-2-2013
20163003@unknown@formal@none@1@S@Freeport-McMoRan, a New Orleans-based diversified energy conglomerate, said the partnership will exchange its assets for common shares of a yet-to-be-formed entity.@@@@1@21@@oe@2-2-2013
20163004@unknown@formal@none@1@S@Freeport-McMoRan Energy Partners will be liquidated and shares of the new company distributed to the partnership's unitholders.@@@@1@17@@oe@2-2-2013
20163005@unknown@formal@none@1@S@Unitholders will receive two additional 55 cents-a-unit distribution payments before the trust is liquidated in early 1990, the company said.@@@@1@20@@oe@2-2-2013
20163006@unknown@formal@none@1@S@It is expected that common shares equal to the number of units outstanding -- about 108 million on Sept. 30 -- will be issued during the first quarter of 1990.@@@@1@30@@oe@2-2-2013
20163007@unknown@formal@none@1@S@Freeport-McMoRan, the parent company, holds roughly 80% of the units outstanding.@@@@1@11@@oe@2-2-2013
20164001@unknown@formal@none@1@S@Nissan Motor Co., Japan's second-largest car maker, announced Wednesday that the parent concern's pretax earnings in the first half ended last Sept. 30 rose 14% to 88.32 billion yen ($618.1 million) from 77.6 billion yen a year earlier.@@@@1@38@@oe@2-2-2013
20164002@unknown@formal@none@1@S@Nissan cited strong domestic sales against the backdrop of continuous economic expansion.@@@@1@12@@oe@2-2-2013
20164003@unknown@formal@none@1@S@Profit surged 42% to 40.21 billion yen, or 16.09 yen a share, from 28.36 billion yen, or 11.72 yen a share.@@@@1@21@@oe@2-2-2013
20164004@unknown@formal@none@1@S@Sales totaled 1.916 trillion yen, climbing 17% from 1.637 trillion yen in the year-earlier period.@@@@1@15@@oe@2-2-2013
20164005@unknown@formal@none@1@S@Nissan scheduled a seven-yen interim dividend payment, unchanged.@@@@1@8@@oe@2-2-2013
20164006@unknown@formal@none@1@S@Atsushi Muramatsu, executive vice president and chief financial officer of Nissan, said, "The company has experienced a remarkable turnaround in terms of profitability since the fiscal year ending March 1987, when the sharp and rapid appreciation of the yen caused many difficulties.@@@@1@42@@oe@2-2-2013
20164007@unknown@formal@none@1@S@"It can be said that the trend of financial improvement has been firmly set," he added.@@@@1@16@@oe@2-2-2013
20165001@unknown@formal@none@1@S@Heritage Media Corp., New York, said it offered to buy the shares of POP Radio Corp. it doesn't already own in a stock swap.@@@@1@24@@oe@2-2-2013
20165002@unknown@formal@none@1@S@Heritage, which owns 51% of POP's 3.6 million shares outstanding, said it will exchange one share of a new preferred stock for each POP common share it doesn't already own.@@@@1@30@@oe@2-2-2013
20165003@unknown@formal@none@1@S@Depending upon how many warrants and options are exercised prior to completion of the transaction, Heritage would issue between 1.8 million and 2.35 million preferred shares, a Heritage spokesman estimated.@@@@1@30@@oe@2-2-2013
20165004@unknown@formal@none@1@S@In national over-the-counter trading yesterday, POP plunged $4 to $14.75.@@@@1@10@@oe@2-2-2013
20165005@unknown@formal@none@1@S@The preferred stock, which would have a dividend rate of $1.76 a year, would be convertible into Heritage common at a rate of four common shares for each preferred.@@@@1@29@@oe@2-2-2013
20165006@unknown@formal@none@1@S@New York-based POP Radio provides, through a national, in-store network, a customized music, information and advertising service which simulates live radio.@@@@1@21@@oe@2-2-2013
20165007@unknown@formal@none@1@S@Heritage owns and operates television and radio stations and in-store advertising and promotion programs.@@@@1@14@@oe@2-2-2013
20166001@unknown@formal@none@1@S@GenCorp Inc., hurt by a plant accident and other unexpected costs, said it expects to report that fiscal fourth-quarter profit from continuing operations will be significantly below last year's $25 million.@@@@1@31@@oe@2-2-2013
20166002@unknown@formal@none@1@S@The Fairlawn, Ohio-based company also said that full-year profit from continuing operations will be far below last year's $148 million.@@@@1@20@@oe@2-2-2013
20166003@unknown@formal@none@1@S@Last year's figures include a one-time loss of $12 million for restructuring and unusual items.@@@@1@15@@oe@2-2-2013
20166004@unknown@formal@none@1@S@But the automotive parts and aerospace concern expects that net for the year ending Nov. 30 will exceed last fiscal year's net of $70 million, or $2.19 a share, primarily because of $200 million in gains from sales of discontinued operations.@@@@1@41@@oe@2-2-2013
20166005@unknown@formal@none@1@S@Harry Millis, an analyst at McDonald & Co. in Cleveland, said GenCorp's unanticipated losses come largely from an accident at a government-owned assembly plant in Kansas, run by a private subcontractor, that makes cluster bombs for GenCorp's Aerojet Ordnance business.@@@@1@40@@oe@2-2-2013
20166006@unknown@formal@none@1@S@Transamerica Corp., San Francisco, said third-quarter profit was essentially flat despite a large one-time gain a year earlier.@@@@1@18@@oe@2-2-2013
20166007@unknown@formal@none@1@S@The insurance and financial services concern said profit for the quarter rose 1.1% to $93.9 million, or $1.19 a share, compared with $92.9 million, or $1.18 a share, the year earlier.@@@@1@31@@oe@2-2-2013
20166008@unknown@formal@none@1@S@The results reflected a 24% gain in income from its finance businesses, and a 15% slide in income from insurance operations.@@@@1@21@@oe@2-2-2013
20166009@unknown@formal@none@1@S@Transamerica said third-quarter investment gains were $10.2 million, compared with $6.4 million the year earlier.@@@@1@15@@oe@2-2-2013
20166010@unknown@formal@none@1@S@It said insurance profit reflected a $6 million loss from Hurricane Hugo.@@@@1@12@@oe@2-2-2013
20166011@unknown@formal@none@1@S@It also estimated that losses from the Oct. 17 earthquake in California would be no more than $6 million, and would be included in fourth-quarter results.@@@@1@26@@oe@2-2-2013
20167001@unknown@formal@none@1@S@RMS International Inc., Hasbrouk Heights, N.J., facing a cash-flow squeeze, said it is seeking other financing sources and waivers from debenture holders.@@@@1@22@@oe@2-2-2013
20167002@unknown@formal@none@1@S@The company said that because of softening sales it isn't in compliance with requirements that it maintain $3 million in working capital.@@@@1@22@@oe@2-2-2013
20167003@unknown@formal@none@1@S@RMS distributes electronic devices and produces power supplies and plastic literature displays.@@@@1@12@@oe@2-2-2013
20167004@unknown@formal@none@1@S@RMS said it had a loss of $158,666, or 10 cents a share, in the third quarter, compared with a year-earlier loss of $26,956, or two cents a share.@@@@1@29@@oe@2-2-2013
20167005@unknown@formal@none@1@S@Sales rose to $3 million from $2.9 million.@@@@1@8@@oe@2-2-2013
20167006@unknown@formal@none@1@S@For the nine months, the company reported a net loss of $608,413, or 39 cents a share, compared with year-earlier net income of $967,809, or 62 cents a share.@@@@1@29@@oe@2-2-2013
20167007@unknown@formal@none@1@S@Sales rose to $9.8 million from $8.9 million.@@@@1@8@@oe@2-2-2013
20168001@unknown@formal@none@1@S@Meridian National Corp. said it sold 750,000 shares of its common stock to the McAlpine family interests, for $1 million, or $1.35 a share.@@@@1@24@@oe@2-2-2013
20168002@unknown@formal@none@1@S@The sale represents 10.2% of Meridian's shares outstanding.@@@@1@8@@oe@2-2-2013
20168003@unknown@formal@none@1@S@The McAlpine family, which operates a number of multinational companies, including a London-based engineering and construction company, also lent to Meridian National $500,000.@@@@1@23@@oe@2-2-2013
20168004@unknown@formal@none@1@S@That amount is convertible into shares of Meridian common stock at $2 a share during its one-year term.@@@@1@18@@oe@2-2-2013
20168005@unknown@formal@none@1@S@The loan may be extended by the McAlpine group for an additional year with an increase in the conversion price to $2.50 a share.@@@@1@24@@oe@2-2-2013
20168006@unknown@formal@none@1@S@The sale of shares to the McAlpine family along with the recent sale of 750,000 shares of Meridian stock to Haden MacLellan Holding PLC of Surrey, England and a recent public offering have increased Meridian's net worth to $8.5 million, said William Feniger, chief executive officer of Toledo, Ohio-based Meridian.@@@@1@50@@oe@2-2-2013
20169001@unknown@formal@none@1@S@Ratners Group PLC, a fast-growing, acquisition-minded London-based jeweler, raised its price for Seattle-based specialty jeweler Weisfield's Inc. to $57.50 a share, or $62.1 million, from $50 a share, or $55 million, after another concern said it would be prepared to outbid Ratners's initial offer.@@@@1@44@@oe@2-2-2013
20169002@unknown@formal@none@1@S@The other concern wasn't identified.@@@@1@5@@oe@2-2-2013
20169003@unknown@formal@none@1@S@Ratners's chairman, Gerald Ratner, said the deal remains of "substantial benefit to Ratners."@@@@1@13@@oe@2-2-2013
20169004@unknown@formal@none@1@S@In London at mid-afternoon yesterday, Ratners's shares were up 2 pence (1.26 cents), at 260 pence ($1.64).@@@@1@17@@oe@2-2-2013
20169005@unknown@formal@none@1@S@The sweetened offer has acceptances from more than 50% of Weisfield's shareholders, and it is scheduled for completion by Dec. 10.@@@@1@21@@oe@2-2-2013
20169006@unknown@formal@none@1@S@The acquisition of 87-store Weisfield's raises Ratners's U.S. presence to 450 stores.@@@@1@12@@oe@2-2-2013
20169007@unknown@formal@none@1@S@About 30% of Ratners's profit already is derived from the U.S.@@@@1@11@@oe@2-2-2013
20170001@unknown@formal@none@1@S@Carnival Cruise Lines Inc. said potential problems with the construction of two big cruise ships from Finland have been averted.@@@@1@20@@oe@2-2-2013
20170002@unknown@formal@none@1@S@Last week, Miami-based Carnival disclosed that Waertsilae Marine Industries, the Finnish shipyard that is building Carnival's new cruise ships, planned to file for bankruptcy.@@@@1@24@@oe@2-2-2013
20170003@unknown@formal@none@1@S@Yesterday, Carnival said a new company has been formed in Finland that will carry on Waertsilae's shipbuilding operations.@@@@1@18@@oe@2-2-2013
20170004@unknown@formal@none@1@S@Carnival said it will be an 11% shareholder in the new company.@@@@1@12@@oe@2-2-2013
20170005@unknown@formal@none@1@S@Carnival said the Fantasy, a 2,050-passenger ship that was slated to be delivered this month, will be delivered in January.@@@@1@20@@oe@2-2-2013
20170006@unknown@formal@none@1@S@A second ship is now expected to be delivered late next year or early in 1991.@@@@1@16@@oe@2-2-2013
20170007@unknown@formal@none@1@S@Carnival had expected that ship to be delivered next fall.@@@@1@10@@oe@2-2-2013
20170008@unknown@formal@none@1@S@A planned third ship still may be built in the Finnish shipyard, or may be built elsewhere, Carnival said.@@@@1@19@@oe@2-2-2013
20171001@unknown@formal@none@1@S@Valley Federal Savings & Loan Association took an $89.9 million charge as it reported a third-quarter loss of $70.7 million, or $12.09 a share.@@@@1@24@@oe@2-2-2013
20171002@unknown@formal@none@1@S@The Van Nuys, Calif., thrift had net income of $132,000, or three cents a share, a year ago.@@@@1@18@@oe@2-2-2013
20171003@unknown@formal@none@1@S@The bulk of the pretax charge is a $62 million write-off of capitalized servicing at the mobile home financing subsidiary, which the company said had been a big drain on earnings.@@@@1@31@@oe@2-2-2013
20171004@unknown@formal@none@1@S@The company said the one-time provision would substantially eliminate all future losses at the unit.@@@@1@15@@oe@2-2-2013
20171005@unknown@formal@none@1@S@Valley Federal also added $18 million to realestate loan reserves and eliminated $9.9 million of good will.@@@@1@17@@oe@2-2-2013
20171006@unknown@formal@none@1@S@The thrift said that "after these charges and assuming no dramatic fluctuation in interest rates, the association expects to achieve near record earnings in 1990."@@@@1@25@@oe@2-2-2013
20171007@unknown@formal@none@1@S@Valley Federal is currently being examined by regulators.@@@@1@8@@oe@2-2-2013
20171008@unknown@formal@none@1@S@New loans continue to slow; they were $6.6 million in the quarter compared with $361.8 million a year ago.@@@@1@19@@oe@2-2-2013
20171009@unknown@formal@none@1@S@The thrift has assets of $3.2 billion.@@@@1@7@@oe@2-2-2013
20172001@unknown@formal@none@1@S@First of America Bank Corp. said it completed its acquisition of Midwest Financial Group Inc. for about $250 million.@@@@1@19@@oe@2-2-2013
20172002@unknown@formal@none@1@S@First of America, which now has 45 banks and $12.5 billion in assets, announced an agreement to acquire the Peoria, Ill., bank holding company in January.@@@@1@26@@oe@2-2-2013
20172003@unknown@formal@none@1@S@Midwest Financial has $2.3 billion in assets and eight banks.@@@@1@10@@oe@2-2-2013
20172004@unknown@formal@none@1@S@The Midwest Financial subsidiary banks will continue to operate under their current names until early 1990, when each will adopt the First of America name.@@@@1@25@@oe@2-2-2013
20172005@unknown@formal@none@1@S@Kalamazoo, Mich.-based First of America said it will eliminate the 13 management positions of the former Midwest Financial parent company.@@@@1@20@@oe@2-2-2013
20172006@unknown@formal@none@1@S@First of America said some of the managers will take other jobs with First of America.@@@@1@16@@oe@2-2-2013
20172007@unknown@formal@none@1@S@But it said that severance payments to those executives not staying with the company will reduce First of America's operating results for 1989 by $3 million to $4 million, or 15 cents to 20 cents a share.@@@@1@37@@oe@2-2-2013
20173001@unknown@formal@none@1@S@Coleco Industries Inc., a once high-flying toy maker whose stock peaked at $65 a share in the early 1980s, filed a Chapter 11 reorganization plan that provides just 1.125 cents a share for common stockholders.@@@@1@35@@oe@2-2-2013
20173002@unknown@formal@none@1@S@Under the plan, unsecured creditors, who are owed about $430 million, would receive about $92 million, or 21 cents for each dollar they are owed.@@@@1@25@@oe@2-2-2013
20173003@unknown@formal@none@1@S@In addition, they will receive stock in the reorganized company, which will be named Ranger Industries Inc.@@@@1@17@@oe@2-2-2013
20173004@unknown@formal@none@1@S@After these payments, about $225,000 will be available for the 20 million common shares outstanding.@@@@1@15@@oe@2-2-2013
20173005@unknown@formal@none@1@S@The Avon, Conn., company's stock hit a high in 1983 after it unveiled its Adam home computer, but the product was plagued with glitches and the company's fortunes plunged.@@@@1@29@@oe@2-2-2013
20173006@unknown@formal@none@1@S@But Coleco bounced back with the introduction of the Cabbage Patch dolls, whose sales hit $600 million in 1985.@@@@1@19@@oe@2-2-2013
20173007@unknown@formal@none@1@S@But as the craze died, Coleco failed to come up with another winner and filed for bankruptcy-law protection in July 1988.@@@@1@21@@oe@2-2-2013
20173008@unknown@formal@none@1@S@The plan was filed jointly with unsecured creditors in federal bankruptcy court in New York and must be approved by the court.@@@@1@22@@oe@2-2-2013
20174001@unknown@formal@none@1@S@ORTEGA ENDED a truce with the Contras and said elections were threatened.@@@@1@12@@oe@2-2-2013
20174002@unknown@formal@none@1@S@The Nicaraguan president, citing attacks by the U.S.-backed rebels, suspended a 19-month-old cease-fire and accused Bush of "promoting death."@@@@1@19@@oe@2-2-2013
20174003@unknown@formal@none@1@S@While he reaffirmed support for the country's Feb. 25 elections, Ortega indicated that renewed U.S. military aid to the Contras could thwart the balloting.@@@@1@24@@oe@2-2-2013
20174004@unknown@formal@none@1@S@He said U.S. assistance should be used to demobilize the rebels.@@@@1@11@@oe@2-2-2013
20174005@unknown@formal@none@1@S@A White House spokesman condemned the truce suspension as "deplorable" but brushed off talk of renewing military funding for the insurgents.@@@@1@21@@oe@2-2-2013
20174006@unknown@formal@none@1@S@The Contra military command, in a statement from Honduras, said Sandinista troops had launched a major offensive against the rebel forces.@@@@1@21@@oe@2-2-2013
20174007@unknown@formal@none@1@S@East German leader Krenz called the protests in his country a "good sign," saying that many of those marching for democratic freedoms were showing support for "the renovation for socialism."@@@@1@30@@oe@2-2-2013
20174008@unknown@formal@none@1@S@The Communist Party chief, in Moscow for talks with Soviet officials, also said East Germany would follow Gorbachev's restructuring plans.@@@@1@20@@oe@2-2-2013
20174009@unknown@formal@none@1@S@Thousands of East Germans fled to Czechoslovakia after the East Berlin government lifted travel restrictions.@@@@1@15@@oe@2-2-2013
20174010@unknown@formal@none@1@S@The ban on cross-border movement was imposed last month after a massive exodus of emigres to West Germany.@@@@1@18@@oe@2-2-2013
20174011@unknown@formal@none@1@S@Also, a Communist official for the first time said the future of the Berlin Wall could be open to discussion.@@@@1@20@@oe@2-2-2013
20174012@unknown@formal@none@1@S@Health officials plan to extend a moratorium on federal funding of research involving fetal-tissue transplants.@@@@1@15@@oe@2-2-2013
20174013@unknown@formal@none@1@S@The assistant HHS secretary said the ban "should be continued indefinitely."@@@@1@11@@oe@2-2-2013
20174014@unknown@formal@none@1@S@While researchers believe such transplants could help treat diseases like Alzheimer's, anti-abortionists oppose the research.@@@@1@15@@oe@2-2-2013
20174015@unknown@formal@none@1@S@Rep. Dingell of Michigan plans to unveil today a proposal that would break with Bush's clean-air bill on the issue of emissions that lead to acid rain.@@@@1@27@@oe@2-2-2013
20174016@unknown@formal@none@1@S@The Democrat's proposal is described by government sources and lobbyists as significantly weaker than the president's plan to cut utility emissions.@@@@1@21@@oe@2-2-2013
20174017@unknown@formal@none@1@S@House-Senate conferees approved major portions of a package for more than $500 million in economic aid for Poland.@@@@1@18@@oe@2-2-2013
20174018@unknown@formal@none@1@S@The plan relies heavily on $240 million in credit and loan guarantees in fiscal 1990 in hopes of stimulating future trade and investment.@@@@1@23@@oe@2-2-2013
20174019@unknown@formal@none@1@S@South Africa accused armed Namibian nationalist guerrillas of crossing from bases in neighboring Angola, violating U.N.-supervised peace plans for the territory's independence from Pretoria.@@@@1@24@@oe@2-2-2013
20174020@unknown@formal@none@1@S@South African troops were placed on alert.@@@@1@7@@oe@2-2-2013
20174021@unknown@formal@none@1@S@Guerrilla leaders said Pretoria was attempting to sabotage next week's elections in Namibia.@@@@1@13@@oe@2-2-2013
20174022@unknown@formal@none@1@S@Gunmen in Lebanon assassinated a Saudi Arabian Embassy employee, and the pro-Iranian Islamic Jihad took responsibility for the slaying to avenge the beheading of 16 terrorists by Riyadh's government in September.@@@@1@31@@oe@2-2-2013
20174023@unknown@formal@none@1@S@Also in Beirut, a Moslem group vowed to kill Americans if the U.S. implements a policy to seize suspects abroad.@@@@1@20@@oe@2-2-2013
20174024@unknown@formal@none@1@S@Nixon concluded five days of private talks with Chinese leaders in Beijing, but apparently failed to ease strains in Sino-U.S. ties caused by China's crackdown against pro-democracy protesters in June.@@@@1@30@@oe@2-2-2013
20174025@unknown@formal@none@1@S@Beijing's rulers complained to the former president about U.S. "interference" in China's domestic affairs.@@@@1@14@@oe@2-2-2013
20174026@unknown@formal@none@1@S@Mexico's President Salinas said the country's recession had ended and the economy was growing again.@@@@1@15@@oe@2-2-2013
20174027@unknown@formal@none@1@S@In his first state of the nation address, Salinas pledged to continue his program of modernization and warned opposition politicians that impeding progress could cost them popular support.@@@@1@28@@oe@2-2-2013
20174028@unknown@formal@none@1@S@Pakistan's Bhutto defeated the first no-confidence motion in the nation's 42-year history, surviving the vote that could have brought down her 11-month-old government.@@@@1@23@@oe@2-2-2013
20174029@unknown@formal@none@1@S@The prime minister's opponents claimed the balloting, 12 votes short of a majority in Islamabad's 237-seat assembly, was rigged.@@@@1@19@@oe@2-2-2013
20174030@unknown@formal@none@1@S@The White House said the shipboard meetings next month between Bush and Soviet leader Gorbachev will take place in the waters off Malta.@@@@1@23@@oe@2-2-2013
20174031@unknown@formal@none@1@S@The location was disclosed as the U.S. began planning the issues to be discussed at the Dec. 2-3 tete-a-tete.@@@@1@19@@oe@2-2-2013
20174032@unknown@formal@none@1@S@Bush unveiled a package of trade initiatives to help establish "economic alternatives to drug trafficking" in the Andean nations of South America.@@@@1@22@@oe@2-2-2013
20174033@unknown@formal@none@1@S@The president's plan includes a commitment to help negotiate a new international coffee agreement.@@@@1@14@@oe@2-2-2013
20174034@unknown@formal@none@1@S@Pan Am has subpoenaed several government agencies, including the CIA and FBI, to determine whether they were warned that a bomb had been planted aboard a jet that exploded over Scotland last December, killing 270 people.@@@@1@36@@oe@2-2-2013
20174035@unknown@formal@none@1@S@The airline is attempting to show that Israel and West Germany warned the U.S. about the impending attack.@@@@1@18@@oe@2-2-2013
20174036@unknown@formal@none@1@S@Died: James A. Attwood, 62, retired chairman and president of Mutual Life Insurance Co. of New York, Tuesday, in New York City, of an acute anemic condition.@@@@1@27@@oe@2-2-2013
20175001@unknown@formal@none@1@S@Sony Corp. completed its tender offer for Columbia Pictures Entertainment Inc., with Columbia shareholders tendering 99.3% of all common shares outstanding by the Tuesday deadline.@@@@1@25@@oe@2-2-2013
20175002@unknown@formal@none@1@S@Sony Columbia Acquisition Corp., formed for the Columbia deal, will formally take ownership of the movie studio later this month, a spokesman said.@@@@1@23@@oe@2-2-2013
20175003@unknown@formal@none@1@S@Sony is paying $27 a share, or $3.55 billion, cash and is assuming $1.4 billion of long-term debt.@@@@1@18@@oe@2-2-2013
20175004@unknown@formal@none@1@S@Still unresolved is Sony's effort to hire producers Jon Peters and Peter Guber to run the studio.@@@@1@17@@oe@2-2-2013
20175005@unknown@formal@none@1@S@Sony's planned acquisition of Guber/Peters Entertainment Co. for $200 million is scheduled to close Monday.@@@@1@15@@oe@2-2-2013
20175006@unknown@formal@none@1@S@Guber/Peters has been locked in litigation with Warner Communications Inc. in an attempt to get out of an exclusive production contract with Warner.@@@@1@23@@oe@2-2-2013
20175007@unknown@formal@none@1@S@Both sides are in talks to settle the dispute.@@@@1@9@@oe@2-2-2013
20176001@unknown@formal@none@1@S@Xerox Corp. has told employees in its Crum & Forster personal insurance operations that it is laying off about 300 people, or 25% of the staff.@@@@1@26@@oe@2-2-2013
20176002@unknown@formal@none@1@S@A spokeswoman for Crum & Forster said employees were told early this week that numerous staff functions for the personal insurance lines were going to be centralized as a cost-cutting move.@@@@1@31@@oe@2-2-2013
20176003@unknown@formal@none@1@S@She said the move would result in a after-tax charge of less than $4 million to be spread over the next three quarters.@@@@1@23@@oe@2-2-2013
20176004@unknown@formal@none@1@S@By comparison, for the first nine months, Xerox earned $492 million, or $4.55 a share, on revenue of $12.97 billion.@@@@1@20@@oe@2-2-2013
20176005@unknown@formal@none@1@S@Earnings at Xerox's financial-services operations actually rose slightly, but that was largely because capital gains at Crum & Forster offset Hurricane Hugo payments and the reserves set up to cover future payments.@@@@1@32@@oe@2-2-2013
20176006@unknown@formal@none@1@S@Property/casualty insurance has been a tough business in recent quarters, as pricing has been cutthroat and natural disasters such as Hurricane Hugo and the California earthquake have resulted in huge payments.@@@@1@31@@oe@2-2-2013
20177001@unknown@formal@none@1@S@Komatsu Ltd., a large integrated maker of construction machinery, posted a 32% unconsolidated gain in first-half pretax profit.@@@@1@18@@oe@2-2-2013
20177002@unknown@formal@none@1@S@For the period ended Sept.30, it earned 16.68 billion yen, (US$116.7 million) up from 12.68 billion yen the year before.@@@@1@20@@oe@2-2-2013
20177003@unknown@formal@none@1@S@Sales rose 11% to 292.32 billion yen from 263.07 billion yen.@@@@1@11@@oe@2-2-2013
20177004@unknown@formal@none@1@S@Net income surged 31% to 7.63 billion yen from 5.82 billion yen.@@@@1@12@@oe@2-2-2013
20177005@unknown@formal@none@1@S@Per-share net rose to 7.84 yen from 6.53 yen.@@@@1@9@@oe@2-2-2013
20177006@unknown@formal@none@1@S@Brisk domestic demand due to increasing capital investment pushed up sales sharply in construction and industrial machinery divisions.@@@@1@18@@oe@2-2-2013
20177007@unknown@formal@none@1@S@Domestic sales of construction machinery, such as power shovels and bulldozers rose to 142.84 billion yen from 126.15 billion yen.@@@@1@20@@oe@2-2-2013
20177008@unknown@formal@none@1@S@Demand from Europe and Southeast Asia also grew, but due to increasing production at local plants, overseas sales edged down 2.8%.@@@@1@21@@oe@2-2-2013
20177009@unknown@formal@none@1@S@Komatsu predicted that for the fiscal year ending March 31 sales will climb to 600 billion yen from 566.54 billion yen; pretax profit was forecast at 35 billion yen, up from 28.53 billion yen in fiscal 1989.@@@@1@37@@oe@2-2-2013
20177010@unknown@formal@none@1@S@Net is expected to rise to 17 billion yen from 12.82 billion yen a year earlier.@@@@1@16@@oe@2-2-2013
20178001@unknown@formal@none@1@S@ECONOMIC GROWTH APPEARS to be leveling off, latest reports suggest.@@@@1@10@@oe@2-2-2013
20178002@unknown@formal@none@1@S@Factory orders and construction outlays were largely flat in September, while purchasing agents said manufacturing shrank further in October.@@@@1@19@@oe@2-2-2013
20178003@unknown@formal@none@1@S@Still, many economists aren't predicting a recession anytime soon.@@@@1@9@@oe@2-2-2013
20178004@unknown@formal@none@1@S@The Fed is coming under pressure to cut short-term interest rates due to the apparent slowing of the economy.@@@@1@19@@oe@2-2-2013
20178005@unknown@formal@none@1@S@But it isn't clear yet whether the central bank will make such a move.@@@@1@14@@oe@2-2-2013
20178006@unknown@formal@none@1@S@Campbell Soup forced out its president and chief executive, R. Gordon McGovern, the strongest indication yet that the Dorrance family plans to take charge of reshaping the troubled food company.@@@@1@30@@oe@2-2-2013
20178007@unknown@formal@none@1@S@Campbell's stock rose $3.375, to $47.125, in reaction.@@@@1@8@@oe@2-2-2013
20178008@unknown@formal@none@1@S@The Chicago Merc plans an additional "circuit breaker" to stem sharp drops in the market.@@@@1@15@@oe@2-2-2013
20178009@unknown@formal@none@1@S@Also, Big Board Chairman Phelan said he would support SEC halts of program trading during market crises but not any revival of a "collar" on trading.@@@@1@26@@oe@2-2-2013
20178010@unknown@formal@none@1@S@Georgia Gulf received a new takeover bid from investor Harold Simmons and NL Industries of $50 a share, or about $1.1 billion.@@@@1@22@@oe@2-2-2013
20178011@unknown@formal@none@1@S@The offer, which follows a $55-a-share bid that was rejected in September, steps up pressure on the chemicals concern.@@@@1@19@@oe@2-2-2013
20178012@unknown@formal@none@1@S@The minimum-wage bill worked out by Congress and Bush won easy approval in the House.@@@@1@15@@oe@2-2-2013
20178013@unknown@formal@none@1@S@The compromise plan, which boosts the minimum wage for the first time since 1981, is expected to clear the Senate soon.@@@@1@21@@oe@2-2-2013
20178014@unknown@formal@none@1@S@Steinberg sought clearance to buy more than 15% of United Air's parent, saying he may seek control.@@@@1@17@@oe@2-2-2013
20178015@unknown@formal@none@1@S@Takeover experts said they doubted the financier would make a bid by himself.@@@@1@13@@oe@2-2-2013
20178016@unknown@formal@none@1@S@An airline buy-out bill was approved by the House.@@@@1@9@@oe@2-2-2013
20178017@unknown@formal@none@1@S@The measure would make it easier for the Transportation Department to block leveraged buy-outs in the industry.@@@@1@17@@oe@2-2-2013
20178018@unknown@formal@none@1@S@USX was cited by OSHA for several health and safety violations at two Pennsylvania plants and may face a record fine of $7.3 million.@@@@1@24@@oe@2-2-2013
20178019@unknown@formal@none@1@S@Random House Chairman Robert Bernstein said he is resigning from the publishing house he has run for 23 years.@@@@1@19@@oe@2-2-2013
20178020@unknown@formal@none@1@S@A successor wasn't named.@@@@1@4@@oe@2-2-2013
20178021@unknown@formal@none@1@S@Cray Research indicated that the survival of a spinoff company, which is developing a new supercomputer, depends heavily on its chairman and chief designer, Seymour Cray.@@@@1@26@@oe@2-2-2013
20178022@unknown@formal@none@1@S@Light trucks and vans will face the same safety requirements as automobiles under new proposals by the Transportation Department.@@@@1@19@@oe@2-2-2013
20178023@unknown@formal@none@1@S@The Treasury plans to sell $30 billion in notes and bonds next week but will delay the auction unless Congress quickly raises the debt ceiling.@@@@1@25@@oe@2-2-2013
20178024@unknown@formal@none@1@S@U.S. farmers' net income rose to a record $59.9 billion last year despite one of the worst droughts ever.@@@@1@19@@oe@2-2-2013
20178025@unknown@formal@none@1@S@Two antitrust agencies may face further cutbacks because of a complicated new funding device, some Democrats in Congress are warning.@@@@1@20@@oe@2-2-2013
20178026@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
20178027@unknown@formal@none@1@S@Stocks: Volume 154,240,000 shares.@@@@1@4@@oe@2-2-2013
20178028@unknown@formal@none@1@S@Dow Jones industrials 2645.90, up 0.82; transportation 1206.26, up 1.25; utilities 220.45, up 1.26.@@@@1@14@@oe@2-2-2013
20178029@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3436.58, up@@@@1@8@@oe@2-2-2013
20178030@unknown@formal@none@1@S@Commodities: Dow Jones futures index 129.91, up 0.28; spot index 131.01, up 1.17.@@@@1@13@@oe@2-2-2013
20178031@unknown@formal@none@1@S@Dollar: 143.80 yen, up 0.95; 1.8500 marks, up 0.0085.@@@@1@9@@oe@2-2-2013
20179001@unknown@formal@none@1@S@Junk-bond markdowns, an ongoing Securities and Exchange Commission investigation, a Drexel Burnham Lambert connection, a fizzled buy-out rumor.@@@@1@18@@oe@2-2-2013
20179002@unknown@formal@none@1@S@All this has cast a pall over Columbia Savings & Loan Association and its high-rolling 43-year-old chairman, Thomas Spiegel, who built the $12.7 billion Beverly Hills, Calif., thrift with high-yield junk bonds.@@@@1@32@@oe@2-2-2013
20179003@unknown@formal@none@1@S@Bears have targeted Columbia's stock because of the thrift's exposure to the shaky junk market.@@@@1@15@@oe@2-2-2013
20179004@unknown@formal@none@1@S@And some investors fault Mr. Spiegel's life style; he earns millions of dollars a year and flies around in Columbia's jet planes.@@@@1@22@@oe@2-2-2013
20179005@unknown@formal@none@1@S@Columbia stock recently hit 4 1/8, after reaching 11 3/4 earlier this year on rumors that Mr. Spiegel would take the thrift private.@@@@1@23@@oe@2-2-2013
20179006@unknown@formal@none@1@S@Moreover, junk professionals think Columbia's huge third-quarter markdown of its junk portfolio to $4.4 billion wasn't enough, meaning another markdown could be coming.@@@@1@23@@oe@2-2-2013
20179007@unknown@formal@none@1@S@But in recent days, Columbia has edged up, closing at 5 1/4, up 3/8, yesterday on revived speculation that the thrift might restructure.@@@@1@23@@oe@2-2-2013
20179008@unknown@formal@none@1@S@Mr. Spiegel's fans say Columbia's Southern California branches are highly salable, and the thrift has $458 million of shareholders equity underlying its assets.@@@@1@23@@oe@2-2-2013
20179009@unknown@formal@none@1@S@That's almost $10 of equity for each Columbia share, including convertible preferred shares, though more junk markdowns would reduce the cushion.@@@@1@21@@oe@2-2-2013
20179010@unknown@formal@none@1@S@Columbia has only about 10 million common shares in public hands.@@@@1@11@@oe@2-2-2013
20179011@unknown@formal@none@1@S@The Spiegel family has 25% of the common and 75% of the votes.@@@@1@13@@oe@2-2-2013
20179012@unknown@formal@none@1@S@Other big common holders are Carl Lindner's American Financial, investor Irwin Jacobs and Pacific Financial Research, though the latter cut its stake this summer.@@@@1@24@@oe@2-2-2013
20179013@unknown@formal@none@1@S@While many problems would attend a restructuring of Columbia, investors say Mr. Spiegel is mulling such a plan to mitigate Columbia's junk problems.@@@@1@23@@oe@2-2-2013
20179014@unknown@formal@none@1@S@Indeed, Columbia executives recently told reporters they were interested in creating a separate unit to hold Columbia's junk bonds and perhaps do merchant banking.@@@@1@24@@oe@2-2-2013
20179015@unknown@formal@none@1@S@Columbia won't comment on all the speculation.@@@@1@7@@oe@2-2-2013
20179016@unknown@formal@none@1@S@But like other thrifts, it's expected to seek regulators' consent to create a distinct junk-bond entity.@@@@1@16@@oe@2-2-2013
20179017@unknown@formal@none@1@S@Plans to do this are due to be filed in a week or so.@@@@1@14@@oe@2-2-2013
20179018@unknown@formal@none@1@S@New rules force thrifts to write down their junk to market value, then sell the bonds over five years.@@@@1@19@@oe@2-2-2013
20179019@unknown@formal@none@1@S@That's why Columbia just wrote off $130 million of its junk and reserved $227 million for future junk losses.@@@@1@19@@oe@2-2-2013
20179020@unknown@formal@none@1@S@But if Columbia could keep its junk bonds separate from the thrift till they mature -- at full value, unless the issuer goes bust or restructures -- the junk portfolio might do all right.@@@@1@34@@oe@2-2-2013
20179021@unknown@formal@none@1@S@Columbia, a longtime Drexel client, won't provide current data on its junk.@@@@1@12@@oe@2-2-2013
20179022@unknown@formal@none@1@S@But its 17 big junk holdings at year end showed only a few bonds that have been really battered.@@@@1@19@@oe@2-2-2013
20179023@unknown@formal@none@1@S@These were Allied Stores, Western Union Telegraph, Gillett Holdings, SCI Television and Texas Air, though many other bonds in Columbia's portfolio also have lost value.@@@@1@25@@oe@2-2-2013
20179024@unknown@formal@none@1@S@Possibly offsetting that, Columbia recently estimated it has unrealized gains on publicly traded equity investments of more than $70 million.@@@@1@20@@oe@2-2-2013
20179025@unknown@formal@none@1@S@It also hopes for ultimate gains of as much as $300 million on equity investments in buy-outs and restructurings.@@@@1@19@@oe@2-2-2013
20179026@unknown@formal@none@1@S@One trial balloon Mr. Spiegel is said to have floated to investors: Columbia might be broken up, as Mellon Bank was split into a good bank and a bad bank.@@@@1@30@@oe@2-2-2013
20179027@unknown@formal@none@1@S@But Columbia's good bank would be a regulated thrift, while the bad bank would be a private investment company, holding some of Columbia's junk bonds, real estate and equity investments.@@@@1@30@@oe@2-2-2013
20179028@unknown@formal@none@1@S@Some think Columbia's thrift, which now is seeking a new chief operating officer, might be capitalized at, say $300 million, and shopped to a commercial bank that wants a California presence.@@@@1@31@@oe@2-2-2013
20179029@unknown@formal@none@1@S@The thrift surely could be sold for more than the value of its equity, financial industry executives say.@@@@1@18@@oe@2-2-2013
20179030@unknown@formal@none@1@S@Meanwhile, the bad bank with the junk bonds -- and some capital -- might be spun off to Columbia shareholders, including Mr. Spiegel, who might then have a new career, investors say.@@@@1@32@@oe@2-2-2013
20179031@unknown@formal@none@1@S@It isn't clear how much a restructuring would help Columbia stockholders.@@@@1@11@@oe@2-2-2013
20179032@unknown@formal@none@1@S@But "the concept is workable.@@@@1@5@@oe@2-2-2013
20179033@unknown@formal@none@1@S@You sell the good bank as an ongoing operation and use some of the proceeds to capitalize the bad bank," says thrift specialist Lewis Ranieri of Ranieri Associates in New York.@@@@1@31@@oe@2-2-2013
20179034@unknown@formal@none@1@S@Mr. Spiegel's next career move is a subject of speculation on Wall Street.@@@@1@13@@oe@2-2-2013
20179035@unknown@formal@none@1@S@Few people think Mr. Spiegel wants to run a bread-and-butter thrift, which current rules would force Columbia to become.@@@@1@19@@oe@2-2-2013
20179036@unknown@formal@none@1@S@"They aren't really a thrift," says Jonathan Gray, a Sanford C. Bernstein analyst.@@@@1@13@@oe@2-2-2013
20179037@unknown@formal@none@1@S@Of course, regulators would have to approve Columbia's reorganization.@@@@1@9@@oe@2-2-2013
20179038@unknown@formal@none@1@S@And some investment bankers say a restructuring isn't feasible while the SEC still is scrutinizing Mr. Spiegel's past junk-bond trades.@@@@1@20@@oe@2-2-2013
20179039@unknown@formal@none@1@S@Pauline Yoshihashi in Los Angeles contributed to this article.@@@@1@9@@oe@2-2-2013
20179040@unknown@formal@none@1@S@Columbia Savings & Loan (NYSE; Symbol: CSV)@@@@1@7@@oe@2-2-2013
20179041@unknown@formal@none@1@S@Business: Savings and loan@@@@1@4@@oe@2-2-2013
20179042@unknown@formal@none@1@S@Year ended Dec. 31, 1988: Net income: $65 million; or $1.49 a share@@@@1@13@@oe@2-2-2013
20179043@unknown@formal@none@1@S@Third quarter, Sept. 30, 1989: Net loss: $11.57 a share vs. net income: 37 cents a share@@@@1@17@@oe@2-2-2013
20179044@unknown@formal@none@1@S@Average daily trading volume: 83,206 shares@@@@1@6@@oe@2-2-2013
20179045@unknown@formal@none@1@S@Common shares outstanding: 19.6 million@@@@1@5@@oe@2-2-2013
20179046@unknown@formal@none@1@S@Note: All per-share figures are fully diluted.@@@@1@7@@oe@2-2-2013
20180001@unknown@formal@none@1@S@Genetics Institute Inc., Cambridge, Mass., said it was awarded U.S. patents for Interleukin-3 and bone morphogenetic protein.@@@@1@17@@oe@2-2-2013
20180002@unknown@formal@none@1@S@The patent for Interleukin-3 covers materials and methods used to make the human blood cell growth factor via recombinant DNA technology.@@@@1@21@@oe@2-2-2013
20180003@unknown@formal@none@1@S@Sandoz Ltd. has licensed certain manufacturing and marketing rights for Interleukin-3 from Genetics Institute and is conducting preclinical studies with it.@@@@1@21@@oe@2-2-2013
20180004@unknown@formal@none@1@S@Interleukin-3 may help in treating blood cell deficiencies associated with cancer treatment, bone marrow transplants and other blood-cell disorders, Genetics Institute said.@@@@1@22@@oe@2-2-2013
20180005@unknown@formal@none@1@S@The second patent describes bone morphogenetic protein-1, a substance that can induce formation of new cartilage.@@@@1@16@@oe@2-2-2013
20180006@unknown@formal@none@1@S@The patent covers BMP-1 type proteins and pharmaceutical compositions and methods for treating bone or cartilage defects, Genetics Institute said.@@@@1@20@@oe@2-2-2013
20180007@unknown@formal@none@1@S@The company added that it has filed patent applications "on a large number of different BMP proteins" and the patent on BMP-1 is the first it has received.@@@@1@28@@oe@2-2-2013
20180008@unknown@formal@none@1@S@BMP products may be useful in fracture healing and in treating bone loss associated with periodontal disease and certain cancers, the company said.@@@@1@23@@oe@2-2-2013
20181001@unknown@formal@none@1@S@The Bush administration's nomination of Clarence Thomas to a seat on the federal appeals court here received a blow this week when the American Bar Association gave Mr. Thomas only a "qualified" rating, rather than "well qualified."@@@@1@37@@oe@2-2-2013
20181002@unknown@formal@none@1@S@People familiar with the Senate Judiciary Committee, which will vote on the nomination, said some liberal members of the panel are likely to question the ABA rating in hearings on the matter.@@@@1@32@@oe@2-2-2013
20181003@unknown@formal@none@1@S@Mr. Thomas, currently chairman of the Equal Employment Opportunity Commission, would add another conservative voice to the closely divided court.@@@@1@20@@oe@2-2-2013
20181004@unknown@formal@none@1@S@Groups have accused him of advocating policies that narrowed rights of older workers and of ignoring discrimination by large companies.@@@@1@20@@oe@2-2-2013
20181005@unknown@formal@none@1@S@Fourteen members of the House with jurisdiction over the EEOC have said they oppose Mr. Thomas's nomination because of "serious questions about his judgment {and} respect for the law."@@@@1@29@@oe@2-2-2013
20181006@unknown@formal@none@1@S@A senior Justice Department official, however, said the administration isn't worried about the ABA rating.@@@@1@15@@oe@2-2-2013
20181007@unknown@formal@none@1@S@"We're pleased the ABA rated him qualified," David Runkel, the department's chief spokesman, said in an interview.@@@@1@17@@oe@2-2-2013
20181008@unknown@formal@none@1@S@The ABA gives a "qualified" rating to nominees it believes would perform "satisfactorily" on the bench.@@@@1@16@@oe@2-2-2013
20181009@unknown@formal@none@1@S@In contrast, the lawyers' association gives a "well qualified" rating to those "regarded as one of the best available for the vacancy.@@@@1@22@@oe@2-2-2013
20182001@unknown@formal@none@1@S@Metallgesellschaft AG said it agreed to acquire 51% of Lentjes AG from the Ferdinand Lentjes Foundation.@@@@1@16@@oe@2-2-2013
20182002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20182003@unknown@formal@none@1@S@Metallgesellschaft, a diversified Frankfurt, West Germany-based metals group, said it is buying the stake in the specialized engineering company to expand its production of environmental supplies for power plants.@@@@1@29@@oe@2-2-2013
20182004@unknown@formal@none@1@S@Lentjes' product mix of specialized boilers and pipes provides a good fit with its own Lurgi G.m.b.H. plant engineering unit, the company said.@@@@1@23@@oe@2-2-2013
20182005@unknown@formal@none@1@S@The move is part of a strategy to focus on its core metals trading, processing and plant engineering activities while shedding peripheral units, the company said.@@@@1@26@@oe@2-2-2013
20182006@unknown@formal@none@1@S@Lentjes had 1988 sales of 800 million marks ($434.4 million) and has a current order backlog of 2.5 billion marks.@@@@1@20@@oe@2-2-2013
20182007@unknown@formal@none@1@S@The sale comes in place of a planned initial public offering of Lentjes stock.@@@@1@14@@oe@2-2-2013
20182008@unknown@formal@none@1@S@A plan to bring the stock to market before year end apparently was upset by the recent weakness of Frankfurt share prices.@@@@1@22@@oe@2-2-2013
20183001@unknown@formal@none@1@S@The U.S. International Trade Commission issued preliminary rulings under the U.S. anti-dumping act that imports of sweaters from Hong Kong, Taiwan and South Korea may be injuring a domestic industry.@@@@1@30@@oe@2-2-2013
20183002@unknown@formal@none@1@S@Because of the rulings, the Commerce Department will continue to investigate complaints by U.S. sweater makers that the imports are reaching the U.S. at unfairly low prices in violation of the U.S. anti-dumping act.@@@@1@34@@oe@2-2-2013
20183003@unknown@formal@none@1@S@The law defines unfairly low prices as ones below the cost of production or below prices in an exporter's home market.@@@@1@21@@oe@2-2-2013
20183004@unknown@formal@none@1@S@ITC officials said final Commerce Department and ITC rulings won't come until next March or later.@@@@1@16@@oe@2-2-2013
20183005@unknown@formal@none@1@S@If both agencies find violations of the U.S. trade law, the U.S. would assess penalty duties on the imports, which already are subject to import quotas under bilateral textile and apparel trade agreements.@@@@1@33@@oe@2-2-2013
20183006@unknown@formal@none@1@S@Imports of manmade-fiber sweaters in 1988 totaled about $405 million from Taiwan, $400 million from South Korea and $125 million from Hong Kong, according to the ITC.@@@@1@27@@oe@2-2-2013
20183007@unknown@formal@none@1@S@In another action, the ITC dismissed anti-dumping act complaints filed by Du Pont Co. of Wilmington, Del., against imports of neoprene, a type of synthetic rubber, from France and West Germany.@@@@1@31@@oe@2-2-2013
20183008@unknown@formal@none@1@S@These imports totaled about $17 million last year.@@@@1@8@@oe@2-2-2013
20184001@unknown@formal@none@1@S@Upjohn Co. said it will offer an early retirement package to as many as 1,100 employees in a cost-cutting move expected to result in a fourth-quarter charge.@@@@1@27@@oe@2-2-2013
20184002@unknown@formal@none@1@S@Upjohn officials said they couldn't estimate the size of the charge until they determine which employees, and how many, will participate in the retirement plan.@@@@1@25@@oe@2-2-2013
20184003@unknown@formal@none@1@S@But the pharmaceutical company said it "anticipates the long-term savings resulting from the plan's implementation will more than offset short-term costs."@@@@1@21@@oe@2-2-2013
20184004@unknown@formal@none@1@S@The program, available to Upjohn employees 55 years old or older, could increase an individual's retirement benefits 10% to 20%.@@@@1@20@@oe@2-2-2013
20184005@unknown@formal@none@1@S@In addition, Upjohn is offering a one-time retirement bonus equal to six months of base pay.@@@@1@16@@oe@2-2-2013
20184006@unknown@formal@none@1@S@Chairman Theodore Cooper called the program part of the company's two-year strategy to implement budget constraints and "an effective headcount-control program."@@@@1@21@@oe@2-2-2013
20184007@unknown@formal@none@1@S@But some analysts questioned how much of an impact the retirement package will have, because few jobs will end up being eliminated.@@@@1@22@@oe@2-2-2013
20184008@unknown@formal@none@1@S@"It's a cosmetic move," said Jonathan S. Gelles of Wertheim Schroder & Co.@@@@1@13@@oe@2-2-2013
20184009@unknown@formal@none@1@S@According to Upjohn's estimates, only 50% to 60% of the 1,100 eligible employees will take advantage of the plan.@@@@1@19@@oe@2-2-2013
20184010@unknown@formal@none@1@S@Upjohn further estimated that about 50% of the employees who leave for early retirement may be replaced.@@@@1@17@@oe@2-2-2013
20184011@unknown@formal@none@1@S@As a result, Upjohn will likely trim only about 275 to 350 of its more than 21,000 jobs world-wide.@@@@1@19@@oe@2-2-2013
20184012@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange yesterday, Upjohn shares rose 87.5 cents to $38.875 apiece.@@@@1@18@@oe@2-2-2013
20184013@unknown@formal@none@1@S@An Upjohn spokesman said he had "heard nothing" to suggest the early retirement package was spurred by shareholder pressure or a potential bidder for the company, which occasionally has been the target of takeover speculation.@@@@1@35@@oe@2-2-2013
20184014@unknown@formal@none@1@S@The company earlier this year adopted a shareholder-rights plan to ward off unwanted suitors.@@@@1@14@@oe@2-2-2013
20184015@unknown@formal@none@1@S@The spokesman said it is the first early retirement plan offered under its two-year cost-control strategy.@@@@1@16@@oe@2-2-2013
20184016@unknown@formal@none@1@S@Earlier staff-reduction moves have trimmed about 300 jobs, the spokesman said.@@@@1@11@@oe@2-2-2013
20185001@unknown@formal@none@1@S@INTER-TEL Inc. (Chandler, Ariz.) --@@@@1@5@@oe@2-2-2013
20185002@unknown@formal@none@1@S@Jerry Chapman, managing director of WayMar Associates, was elected a director of this business telecommunications software and systems concern.@@@@1@19@@oe@2-2-2013
20185003@unknown@formal@none@1@S@He increases the board to seven.@@@@1@6@@oe@2-2-2013
20186001@unknown@formal@none@1@S@"Feeding Frenzy" (Henry Holt, 326 pages, $19.95), a highly detailed account of the Wedtech scandal, begins on a reassuring note.@@@@1@20@@oe@2-2-2013
20186002@unknown@formal@none@1@S@Right up front in the preface, co-author William Sternberg gives us an example of his own integrity.@@@@1@17@@oe@2-2-2013
20186003@unknown@formal@none@1@S@When offered a free trip from the Bronx, Wedtech's home, to Washington, D.C., by one of Wedtech's principals, he tells the reader, "mindful of accepting anything of value from those I was writing about, I declined."@@@@1@36@@oe@2-2-2013
20186004@unknown@formal@none@1@S@Any question as to why an author would believe this plaintive, high-minded note of assurance is necessary is answered by reading this book about sticky fingers and sweaty scammers.@@@@1@29@@oe@2-2-2013
20186005@unknown@formal@none@1@S@Bribe by bribe, Mr. Sternberg and his co-author, Matthew C. Harrison Jr., lead us along the path Wedtech traveled, from its inception as a small manufacturing company to the status of full-fledged defense contractor, entrusted with the task of producing vital equipment for the Army and Navy.@@@@1@47@@oe@2-2-2013
20186006@unknown@formal@none@1@S@The book revolves around John Mariotta, the founder of the company, and Fred Neuberger, who became his partner soon after Wedtech's creation.@@@@1@22@@oe@2-2-2013
20186007@unknown@formal@none@1@S@Although started in 1965, Wedtech didn't really get rolling until 1975, when Mr. Neuberger discovered the federal government's Section 8(A) minority business program.@@@@1@23@@oe@2-2-2013
20186008@unknown@formal@none@1@S@This is a Johnson-era, Great Society creation that mandates certain government contracts be awarded noncompetitively to minority businesses.@@@@1@18@@oe@2-2-2013
20186009@unknown@formal@none@1@S@Mr. Neuberger realized that, although of Italian ancestry, Mr. Mariotta still could qualify as a minority person since he was born in Puerto Rico.@@@@1@24@@oe@2-2-2013
20186010@unknown@formal@none@1@S@The two partners merely had to falsify the true ownership of the corporation.@@@@1@13@@oe@2-2-2013
20186011@unknown@formal@none@1@S@Instead of 50/50 it became, on paper only, two-thirds Mariotta, one-third Neuberger, and they were in the program and off to the races.@@@@1@23@@oe@2-2-2013
20186012@unknown@formal@none@1@S@Besides being a "minority-owned company" Wedtech was located in the South Bronx, a blighted area, made famous by Jimmy Carter in his 1976 presidential campaign.@@@@1@25@@oe@2-2-2013
20186013@unknown@formal@none@1@S@The company plugged itself right into Carter campaign rhetoric about rebuilding the South Bronx and kept using the minority -- South Bronx angle through the Reagan '80s.@@@@1@27@@oe@2-2-2013
20186014@unknown@formal@none@1@S@Starting with Congressman Mario Biaggi (now serving a jail sentence), the company began a career of bribing federal, state and local public officials and those close to public officials, right up to and including E. Robert Wallach, close friend and adviser to former Attorney General Ed Meese.@@@@1@47@@oe@2-2-2013
20186015@unknown@formal@none@1@S@Wedtech didn't just use old fashioned bribery.@@@@1@7@@oe@2-2-2013
20186016@unknown@formal@none@1@S@It made ample use of the modern techniques of influence peddling, retaining politically connected "respectable" law firms, investment bankers and political consultants, including Reagan confidant Lyn Nofzinger.@@@@1@27@@oe@2-2-2013
20186017@unknown@formal@none@1@S@When necessary, it sought and received assistance from organized crime.@@@@1@10@@oe@2-2-2013
20186018@unknown@formal@none@1@S@Sometimes the bribed became partners in the company.@@@@1@8@@oe@2-2-2013
20186019@unknown@formal@none@1@S@Wedtech management used the merit system.@@@@1@6@@oe@2-2-2013
20186020@unknown@formal@none@1@S@If you were especially helpful in a corrupt scheme you received not just cash in a bag, but equity.@@@@1@19@@oe@2-2-2013
20186021@unknown@formal@none@1@S@If you were not an effective crook, you found yourself out in the cold, a fate that eventually befell Mr. Mariotta, the firm's semiliterate "minority" person.@@@@1@26@@oe@2-2-2013
20186022@unknown@formal@none@1@S@But despite the sensational nature of the revelations and the breezy, easy-to-read tabloid writing style, "Feeding Frenzy" often falls short of gripping reading.@@@@1@23@@oe@2-2-2013
20186023@unknown@formal@none@1@S@None of the scams show much ingenuity: Auditors found crookery the first day on the job.@@@@1@16@@oe@2-2-2013
20186024@unknown@formal@none@1@S@Wedtech's scammers simply bribed them to shut up.@@@@1@8@@oe@2-2-2013
20186025@unknown@formal@none@1@S@The scammers themselves were garden-variety low lifes, conspicuous consumers who wanted big houses, Mercedes cars, beautiful women, expensive clothes.@@@@1@19@@oe@2-2-2013
20186026@unknown@formal@none@1@S@Among the lot of them, not one is wrestling with good and evil, or especially intelligent or even temporarily insane.@@@@1@20@@oe@2-2-2013
20186027@unknown@formal@none@1@S@The one character at least somewhat interesting was Irving Louis Lobsenz, a pediatrician who changed his name to Rusty Kent London and became a master gambler and author of a book on blackjack.@@@@1@33@@oe@2-2-2013
20186028@unknown@formal@none@1@S@He enters the story toward the end, just in time to get arrested.@@@@1@13@@oe@2-2-2013
20186029@unknown@formal@none@1@S@Absorbed in doling out "Feeding Frenzy's" tidbits, the authors gloss over the root causes of Wedtech, namely the Section 8(A) federal program under whose auspices the scandal took place.@@@@1@29@@oe@2-2-2013
20186030@unknown@formal@none@1@S@They do at least come around to saying that the courts might want to end "rigid affirmative action programs."@@@@1@19@@oe@2-2-2013
20186031@unknown@formal@none@1@S@Programs like Section 8(A) are a little like leaving gold in the street and then expressing surprise when thieves walk by to scoop it up.@@@@1@25@@oe@2-2-2013
20186032@unknown@formal@none@1@S@Numerous other scandals, among them the ones at HUD, have the same characteristics as Wedtech.@@@@1@15@@oe@2-2-2013
20186033@unknown@formal@none@1@S@They take place in government programs that seem tailor-made for corruption.@@@@1@11@@oe@2-2-2013
20186034@unknown@formal@none@1@S@Why are programs like this not eliminated?@@@@1@7@@oe@2-2-2013
20186035@unknown@formal@none@1@S@"Feeding Frenzy" does provide a few clues.@@@@1@7@@oe@2-2-2013
20186036@unknown@formal@none@1@S@In and around all levels of government in the U.S. are groups of people who can best be described as belonging to a political insider commercial party.@@@@1@27@@oe@2-2-2013
20186037@unknown@formal@none@1@S@They know that whenever government is redistributing wealth, regulating commerce or maintaining a large defense establishment, there is big money to be made in influencing, brokering or selling the processes and decisions of government.@@@@1@34@@oe@2-2-2013
20186038@unknown@formal@none@1@S@They are our version of the East bloc's Nomenklatura and they have absolutely no wish to see anything change.@@@@1@19@@oe@2-2-2013
20186039@unknown@formal@none@1@S@How many government programs and policies exist because they line the pockets of political insiders?@@@@1@15@@oe@2-2-2013
20186040@unknown@formal@none@1@S@This is the real issue raised by the Wedtech scandal.@@@@1@10@@oe@2-2-2013
20186041@unknown@formal@none@1@S@Mr. Stern was chairman and chief executive officer of the New York State Urban Development Corp., 1983-85.@@@@1@17@@oe@2-2-2013
20187001@unknown@formal@none@1@S@The Finnish government and major creditors of bankrupt shipyard Waertsilae Marine Industries Oy agreed in principle to form a new company to complete most of the troubled shipyard's backlog of 15 ships.@@@@1@32@@oe@2-2-2013
20187002@unknown@formal@none@1@S@The new company will attempt to limit the shipyard's losses, participants said.@@@@1@12@@oe@2-2-2013
20187003@unknown@formal@none@1@S@"The situation is that the bankruptcy court will get out of the shipbuilding business.@@@@1@14@@oe@2-2-2013
20187004@unknown@formal@none@1@S@Everything will be taken over by the new company," said Christian Andersson, executive vice president of Oy Waertsilae, former parent of Waertsilae Marine.@@@@1@23@@oe@2-2-2013
20187005@unknown@formal@none@1@S@Once its ownership is finalized, the new company will open talks with state-appointed receivers to buy or lease Waertsilae Marine's shipyard facilities.@@@@1@22@@oe@2-2-2013
20187006@unknown@formal@none@1@S@Subcontractors will be offered a settlement and a swift transition to new management is expected to avert an exodus of skilled workers from Waertsilae Marine's two big shipyards, government officials said.@@@@1@31@@oe@2-2-2013
20187007@unknown@formal@none@1@S@Under an accord signed yesterday, the government and Union Bank of Finland would become major shareholders in the new company, each injecting 100 million Finnish markkaa ($23.5 million).@@@@1@28@@oe@2-2-2013
20187008@unknown@formal@none@1@S@Oy Waertsilae is to contribute 200 million markkaa, most of it as subordinated debt, and take a minority stake in the new company.@@@@1@23@@oe@2-2-2013
20187009@unknown@formal@none@1@S@Customers holding contracts for Waertsilae Marine's undelivered ships are expected to subscribe most of the remaining 170 million markkaa in share capital, government officials said.@@@@1@25@@oe@2-2-2013
20187010@unknown@formal@none@1@S@Waertsilae Marine's biggest creditor is Miami-based Carnival Cruise Lines Inc.@@@@1@10@@oe@2-2-2013
20187011@unknown@formal@none@1@S@Carnival, which has three ships on order from Waertsilae Marine, presented claims for $1.5 billion damages in the bankruptcy court this week.@@@@1@22@@oe@2-2-2013
20187012@unknown@formal@none@1@S@Waertsilae Marine's bankruptcy proceedings began Tuesday in a Helsinki court.@@@@1@10@@oe@2-2-2013
20188001@unknown@formal@none@1@S@Its plans to be acquired dashed, Comprehensive Care Corp. said it plans to sell most of its psychiatric and drug abuse facilities in California and some other assets to pay its debt and provide working capital.@@@@1@36@@oe@2-2-2013
20188002@unknown@formal@none@1@S@In all, the company hopes to repay $45 million in debt through the sales, which will completely discharge its secured debt, the company said.@@@@1@24@@oe@2-2-2013
20188003@unknown@formal@none@1@S@In addition, the company has replaced its president and chief executive, naming W. James Nichol, head of the company's contract health services, to succeed B. Lee Karns.@@@@1@27@@oe@2-2-2013
20188004@unknown@formal@none@1@S@Mr. Nichol said he was "extremely disappointed in the continuing deterioration of the company's operations while it attempted to conclude the reorganization during the past four months."@@@@1@27@@oe@2-2-2013
20188005@unknown@formal@none@1@S@Concurrent with Mr. Nichol's appointment, Comprehensive Care moved its corporate headquarters from Irvine, Calif., to St. Louis, where the company maintained its contract services offices.@@@@1@25@@oe@2-2-2013
20188006@unknown@formal@none@1@S@Mr. Karns continues as chairman.@@@@1@5@@oe@2-2-2013
20188007@unknown@formal@none@1@S@Comprehensive Care had agreed to be acquired by closely held First Hospital Corp. of Norfolk, Va., but the sale sputtered almost from the beginning and finally collapsed last week.@@@@1@29@@oe@2-2-2013
20188008@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange yesterday, Comprehensive Care closed at $3.75 a share, up 12.5 cents.@@@@1@20@@oe@2-2-2013
20189001@unknown@formal@none@1@S@Ralston Purina Co. reported a 47% decline in fourth-quarter earnings, reflecting restructuring costs as well as a more difficult pet food market.@@@@1@22@@oe@2-2-2013
20189002@unknown@formal@none@1@S@The St. Louis company earned $45.2 million, or 65 cents a share, compared with $84.9 million, or $1.24 a share, a year earlier.@@@@1@23@@oe@2-2-2013
20189003@unknown@formal@none@1@S@Sales in the latest period were $1.76 billion, a 13% increase from last year's $1.55 billion.@@@@1@16@@oe@2-2-2013
20189004@unknown@formal@none@1@S@For the year ended Sept. 30, Ralston earned $422.5 million, or $6.44 a share, up 8.9% from $387.8 million, or $5.63 a share.@@@@1@23@@oe@2-2-2013
20189005@unknown@formal@none@1@S@This year's results included a gain of $70.2 million on the disposal of seafood operations.@@@@1@15@@oe@2-2-2013
20189006@unknown@formal@none@1@S@Sales for the full year were $6.6 billion, up 13% from $5.8 billion.@@@@1@13@@oe@2-2-2013
20189007@unknown@formal@none@1@S@Ralston said its restructuring costs include the phase-out of a battery facility in Greenville, N.C., the recent closing of a Hostess cake bakery in Cincinnati and a reduction in staff throughout the company.@@@@1@33@@oe@2-2-2013
20189008@unknown@formal@none@1@S@The battery plant, which makes rechargeable nickel cadmium and carbon zinc products, will be closed over the next year or so, a spokesman said.@@@@1@24@@oe@2-2-2013
20189009@unknown@formal@none@1@S@Ralston attributed its fourth-quarter slump partly to higher costs of ingredients in the pet food business as well as competitive pressures, which required higher advertising spending.@@@@1@26@@oe@2-2-2013
20189010@unknown@formal@none@1@S@For the year, pet food volume was flat, the company said.@@@@1@11@@oe@2-2-2013
20189011@unknown@formal@none@1@S@Its cereal division realized higher operating profit on volume increases, but also spent more on promotion.@@@@1@16@@oe@2-2-2013
20189012@unknown@formal@none@1@S@The Continental Baking business benefited from higher margins on bread and on increased cake sales, it added.@@@@1@17@@oe@2-2-2013
20189013@unknown@formal@none@1@S@Ralston said its Eveready battery unit was hurt by continuing economic problems in South America.@@@@1@15@@oe@2-2-2013
20189014@unknown@formal@none@1@S@Ralston shares closed yesterday at $80.50, off $1, in New York Stock Exchange composite trading.@@@@1@15@@oe@2-2-2013
20190001@unknown@formal@none@1@S@Companies listed below reported quarterly profit substantially different from the average of analysts' estimates.@@@@1@14@@oe@2-2-2013
20190002@unknown@formal@none@1@S@The companies are followed by at least three analysts, and had a minimum five-cent change in actual earnings per share.@@@@1@20@@oe@2-2-2013
20190003@unknown@formal@none@1@S@Estimated and actual results involving losses are omitted.@@@@1@8@@oe@2-2-2013
20190004@unknown@formal@none@1@S@The percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past 30 days.@@@@1@23@@oe@2-2-2013
20190005@unknown@formal@none@1@S@Otherwise, actual profit is compared with the 300-day estimate.@@@@1@9@@oe@2-2-2013
20191001@unknown@formal@none@1@S@First Chicago Corp. said it completed its $55.1 million cash-and-stock acquisition of closely held Ravenswood Financial Corp., another Chicago bank holding company.@@@@1@22@@oe@2-2-2013
20192001@unknown@formal@none@1@S@The record corn-buying binge by the Soviet Union is causing serious bottlenecks in the U.S. grain pipeline.@@@@1@17@@oe@2-2-2013
20192002@unknown@formal@none@1@S@The Soviet purchases are so massive that exporters are struggling to find enough river barges and trains to move the recently harvested Midwest crop to ports for loading onto Soviet ships.@@@@1@31@@oe@2-2-2013
20192003@unknown@formal@none@1@S@River barge rates have soared 40% this fall from a year earlier.@@@@1@12@@oe@2-2-2013
20192004@unknown@formal@none@1@S@Railroad companies and some ports are reaping a sudden windfall of business.@@@@1@12@@oe@2-2-2013
20192005@unknown@formal@none@1@S@And some grain analysts are predicting that corn prices might gyrate this month as exporters scrounge to find enough of the crop to meet their obligations to the Soviets.@@@@1@29@@oe@2-2-2013
20192006@unknown@formal@none@1@S@The Soviet Union bought roughly 310 million bushels of U.S. corn in October, which is the most ever sold to the Soviet Union in one month from the U.S.@@@@1@29@@oe@2-2-2013
20192007@unknown@formal@none@1@S@The Soviet Union wants much of it delivered by January, which would be a strain in most years.@@@@1@18@@oe@2-2-2013
20192008@unknown@formal@none@1@S@But it is particularly difficult this autumn because of low water levels on the Mississippi River, on which flows much of the U.S. corn that is shipped overseas.@@@@1@28@@oe@2-2-2013
20192009@unknown@formal@none@1@S@"We are shipping the most corn in that short of time period to one customer on record," said William Dunton, a U.S. Agriculture Department transportation expert.@@@@1@26@@oe@2-2-2013
20192010@unknown@formal@none@1@S@"It is going to be real tight."@@@@1@7@@oe@2-2-2013
20192011@unknown@formal@none@1@S@Because of persistent dry weather in the northern Plains, the water level on the upper section of the Mississippi River is so low that many river operators are already trimming the number of barges their tows push at one time.@@@@1@40@@oe@2-2-2013
20192012@unknown@formal@none@1@S@In a few weeks, many barges probably won't be able to operate fully loaded south of St. Louis because the U.S. Army Corps of Engineers is beginning to reduce the flow of the Missouri River, which feeds into the Mississippi River.@@@@1@41@@oe@2-2-2013
20192013@unknown@formal@none@1@S@The Army Corps is cutting the flow of the Missouri River about two weeks earlier than normal because of low water levels in the reservoirs that feed it.@@@@1@28@@oe@2-2-2013
20192014@unknown@formal@none@1@S@Barge rates on the Mississippi River sank yesterday on speculation that widespread rain this week in the Midwest might temporarily alleviate the situation.@@@@1@23@@oe@2-2-2013
20192015@unknown@formal@none@1@S@But the Army Corps of Engineers expects the river level to continue falling this month.@@@@1@15@@oe@2-2-2013
20192016@unknown@formal@none@1@S@At St. Louis, the water level of the Mississippi River is already 6.5 feet below normal and it could drop an additional 2.5 feet when the flow of the Missouri River is slowed, an Army Corps spokesman said.@@@@1@38@@oe@2-2-2013
20192017@unknown@formal@none@1@S@Similar levels hamstrung barge shipments last year in the wake of the worst drought in 50 years.@@@@1@17@@oe@2-2-2013
20192018@unknown@formal@none@1@S@So far, the grain industry's budding logistical problems haven't been a major factor in the trading of corn contracts at the Chicago Board of Trade.@@@@1@25@@oe@2-2-2013
20192019@unknown@formal@none@1@S@Many grain processors and exporters use the price of the corn futures contracts traded there to calculate the price they offer to buy corn from farmers.@@@@1@26@@oe@2-2-2013
20192020@unknown@formal@none@1@S@At the Board of Trade yesterday the price of the corn contract for December delivery slipped 3.5 cents a bushel to settle at $2.375 a bushel.@@@@1@26@@oe@2-2-2013
20192021@unknown@formal@none@1@S@Corn prices have been sluggish this fall despite the huge Soviet orders because the harvest has allowed farmers to rebuild the stockpiles depleted by the 1988 drought.@@@@1@27@@oe@2-2-2013
20192022@unknown@formal@none@1@S@With the harvest winding down, however, some analysts are speculating that prices might jump in some regions as U.S. exporters try to gather the corn they are obligated to deliver.@@@@1@30@@oe@2-2-2013
20192023@unknown@formal@none@1@S@Farmers are in the best position of many years to push up corn prices.@@@@1@14@@oe@2-2-2013
20192024@unknown@formal@none@1@S@Because the drought reduced U.S. stockpiles, they have more than enough storage space for their new crop, and that permits them to wait for prices to rise.@@@@1@27@@oe@2-2-2013
20192025@unknown@formal@none@1@S@In parts of Iowa, for example, some grain elevators are offering farmers $2.15 a bushel for corn.@@@@1@17@@oe@2-2-2013
20192026@unknown@formal@none@1@S@Many farmers probably wouldn't sell until prices rose at least 20 cents a bushel, said Lyle Reed, president of Chicago Central & Pacific Railroad Co. of Waterloo, Iowa.@@@@1@28@@oe@2-2-2013
20192027@unknown@formal@none@1@S@It isn't clear, however, who would win a waiting game.@@@@1@10@@oe@2-2-2013
20192028@unknown@formal@none@1@S@Although U.S. corn stockpiles shrank by roughly half in the wake of the drought, the Agriculture Department projects that nearly one-fifth of the harvest will still be in storage before the 1990 corn harvest begins.@@@@1@35@@oe@2-2-2013
20192029@unknown@formal@none@1@S@Some analysts are worried that reports of the grain industry's problems might spark investors to begin buying corn futures contracts -- only to see little appreciation.@@@@1@26@@oe@2-2-2013
20192030@unknown@formal@none@1@S@"The public is buying the market when in reality there is plenty of grain to be shipped," said Bill Biedermann, Allendale Inc. research director.@@@@1@24@@oe@2-2-2013
20192031@unknown@formal@none@1@S@Although much of this country's export corn goes to New Orleans by barge, it is possible for exporters to sidestep the Mississippi River by shipping a larger-than-normal amount of corn by train to the port.@@@@1@35@@oe@2-2-2013
20192032@unknown@formal@none@1@S@Ports in the Great Lakes and Atlantic Coast can also relieve pressure on New Orleans.@@@@1@15@@oe@2-2-2013
20192033@unknown@formal@none@1@S@One railroad, for example, is already increasing its grain hauling service from Indiana to Baltimore.@@@@1@15@@oe@2-2-2013
20192034@unknown@formal@none@1@S@And it isn't clear that the Soviet Union will stay on its record buying pace.@@@@1@15@@oe@2-2-2013
20192035@unknown@formal@none@1@S@The Soviet orders were compressed into the month of October because of delays.@@@@1@13@@oe@2-2-2013
20192036@unknown@formal@none@1@S@The Soviet Union usually begins buying U.S. crops earlier in the fall.@@@@1@12@@oe@2-2-2013
20192037@unknown@formal@none@1@S@But its purchases apparently were delayed by a reorganization of its agricultural bureaucracy as well as budget problems.@@@@1@18@@oe@2-2-2013
20192038@unknown@formal@none@1@S@In other commodity markets yesterday:@@@@1@5@@oe@2-2-2013
20192039@unknown@formal@none@1@S@ENERGY: Crude oil futures prices increased in moderate trading, but much of the action was in heating oil.@@@@1@18@@oe@2-2-2013
20192040@unknown@formal@none@1@S@Prices rose on the news that a sizable West German refinery was damaged in a fire, tightening an already tight European market.@@@@1@22@@oe@2-2-2013
20192041@unknown@formal@none@1@S@Heating oil for November delivery ended at 58.64 cents a gallon, up one cent on the New York Mercantile Exchange.@@@@1@20@@oe@2-2-2013
20192042@unknown@formal@none@1@S@West Texas Intermediate for December delivery advanced 22 cents to $19.94 a barrel.@@@@1@13@@oe@2-2-2013
20192043@unknown@formal@none@1@S@Gasoline futures continued a sell-off that began Monday.@@@@1@8@@oe@2-2-2013
20192044@unknown@formal@none@1@S@PRECIOUS METALS: Futures prices eased as increased stability and strength came into the securities markets.@@@@1@15@@oe@2-2-2013
20192045@unknown@formal@none@1@S@December delivery gold fell $3.20 an ounce to $377.60.@@@@1@9@@oe@2-2-2013
20192046@unknown@formal@none@1@S@December silver declined 6.50 cents an ounce to $5.2180.@@@@1@9@@oe@2-2-2013
20192047@unknown@formal@none@1@S@January platinum was down $5.70 an ounce at $494.50.@@@@1@9@@oe@2-2-2013
20192048@unknown@formal@none@1@S@Precious metals, gold in particular, currently are being influenced more by stock market gyrations than the dollar as traders seek greater investment stability, according to William O'Neill, vice president of research at Elders Futures in New York.@@@@1@37@@oe@2-2-2013
20192049@unknown@formal@none@1@S@"The recent rally in precious metals was a result of uncertainty and volatility in equities," he said.@@@@1@17@@oe@2-2-2013
20192050@unknown@formal@none@1@S@Yesterday, the stock market rose strongly, creating a more defensive attitude among precious metals traders, he said.@@@@1@17@@oe@2-2-2013
20192051@unknown@formal@none@1@S@Silver and platinum, which have more of an industrial nature than gold, were even weaker, he said.@@@@1@17@@oe@2-2-2013
20192052@unknown@formal@none@1@S@Silver is also under pressure of "extremely high" inventories in warehouses of the Commodity Exchange, he said.@@@@1@17@@oe@2-2-2013
20192053@unknown@formal@none@1@S@Yesterday, these stocks rose by 170,262 ounces to a record of 226,570,380 ounces, according to an exchange spokesman.@@@@1@18@@oe@2-2-2013
20192054@unknown@formal@none@1@S@COPPER: Futures prices partially recovered Monday's declines because Chilean miners voted to strike.@@@@1@13@@oe@2-2-2013
20192055@unknown@formal@none@1@S@The December contract rose 1.20 cents a pound to $1.14.@@@@1@10@@oe@2-2-2013
20192056@unknown@formal@none@1@S@In Chile, workers at two copper mines, Los Bronces and El Soldado, which belong to the Exxon-owned Minera Disputada, yesterday voted to begin a full strike tomorrow, an analyst said.@@@@1@30@@oe@2-2-2013
20192057@unknown@formal@none@1@S@Reasons for the walkout, the analyst said, included a number of procedural issues, such as a right to strike.@@@@1@19@@oe@2-2-2013
20192058@unknown@formal@none@1@S@The analyst noted that also inherent in all metal markets was a sympathetic reaction to stocks.@@@@1@16@@oe@2-2-2013
20192059@unknown@formal@none@1@S@In the case of copper, he said, the upbeat mood of stocks was reflected in demand for futures contracts because a stronger economy means greater buying interest for the metal.@@@@1@30@@oe@2-2-2013
20192060@unknown@formal@none@1@S@Also contributing to the firmness in copper, the analyst noted, was a report by Chicago purchasing agents, which precedes the full purchasing agents' report that is due out today and gives an indication of what the full report might hold.@@@@1@40@@oe@2-2-2013
20192061@unknown@formal@none@1@S@The Purchasing Management Association of Chicago's October index rose to 51.6% after three previous months of readings below 50%.@@@@1@19@@oe@2-2-2013
20192062@unknown@formal@none@1@S@The September index was 47.1%.@@@@1@5@@oe@2-2-2013
20192063@unknown@formal@none@1@S@A reading below 50% generally indicates a slowing in the industrial sector of the economy, while a reading above 50% points to expansion.@@@@1@23@@oe@2-2-2013
20192064@unknown@formal@none@1@S@The Chicago report raised the possibility that the October survey of the National Association of Purchasing Management would also show a reading above 50%.@@@@1@24@@oe@2-2-2013
20193001@unknown@formal@none@1@S@NCR Corp. unveiled two models of its Tower line of midrange computers and introduced advanced networking software to allow the Tower family to operate as a central hub in a network of computers.@@@@1@33@@oe@2-2-2013
20193002@unknown@formal@none@1@S@The new software is based on Novell Inc.'s NetWare network operating system software.@@@@1@13@@oe@2-2-2013
20194001@unknown@formal@none@1@S@USX Corp. posted a 23% drop in third-quarter profit, as improved oil results failed to offset weakness in steel and natural gas operations.@@@@1@23@@oe@2-2-2013
20194002@unknown@formal@none@1@S@The nation's largest steelmaker earned $175 million, or 62 cents a share, compared with the year-earlier $228 million, or 80 cents a share.@@@@1@23@@oe@2-2-2013
20194003@unknown@formal@none@1@S@The recent quarter includes pretax gains of $98 million from asset sales, while like gains in the year-earlier quarter totaled $61 million.@@@@1@22@@oe@2-2-2013
20194004@unknown@formal@none@1@S@In the 1988 period, USX also had a $71 million after-tax gain from a tax dispute settlement.@@@@1@17@@oe@2-2-2013
20194005@unknown@formal@none@1@S@Sales rose 5% to $4.4 billion from $4.2 billion.@@@@1@9@@oe@2-2-2013
20194006@unknown@formal@none@1@S@The earnings drop appears particularly steep in comparison with last year's unusually strong third quarter, when the company was riding an industrywide boom in demand and pricing.@@@@1@27@@oe@2-2-2013
20194007@unknown@formal@none@1@S@However, third-quarter operating profit fell 14%, as USX sold sizable chunks of its diversified and steel segments, eliminating income from those operations.@@@@1@22@@oe@2-2-2013
20194008@unknown@formal@none@1@S@Among segments that continue to operate, though, the company's steel division continued to suffer from soft demand for its tubular goods serving the oil industry and other markets.@@@@1@28@@oe@2-2-2013
20194009@unknown@formal@none@1@S@Peter Marcus, an analyst with PaineWebber Inc., said that a downturn in the appliance industry, coupled with sluggish automotive sales, hurt USX results.@@@@1@23@@oe@2-2-2013
20194010@unknown@formal@none@1@S@Moreover, USX exports more than other steelmakers, and the overseas market has been under more severe pricing pressure.@@@@1@18@@oe@2-2-2013
20194011@unknown@formal@none@1@S@The company attributed lower sales and earnings for the steel segment to the loss of results from the Lorain, Ohio, plant, which now is a 50-50 joint venture with Japan's Kobe Steel Ltd.@@@@1@33@@oe@2-2-2013
20194012@unknown@formal@none@1@S@In the steel division, operating profit dropped 11% to $85 million.@@@@1@11@@oe@2-2-2013
20194013@unknown@formal@none@1@S@Profit per ton of steel shipped dropped to about $33 a ton from $42 a ton last year and $53 a ton in the second quarter, analysts said.@@@@1@28@@oe@2-2-2013
20194014@unknown@formal@none@1@S@Still, USX fared better than other major steelmakers, earning more per ton of steel shipped than either Bethlehem Steel Corp., which posted a 54% drop in net income, or Inland Steel Industries Inc., whose profit plummeted 70%.@@@@1@37@@oe@2-2-2013
20194015@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, USX shares closed up $1.25, at $34.625, as the reported earnings exceeded projections by some analysts who hadn't expected as great a volume of asset sales.@@@@1@34@@oe@2-2-2013
20194016@unknown@formal@none@1@S@The rise in the stock's price may also reflect the fact that USX's steel segment fared better than some other steelmakers'.@@@@1@21@@oe@2-2-2013
20194017@unknown@formal@none@1@S@Charles Bradford, an analyst with Merrill Lynch Capital Markets, said USX may have received orders lost by competitors who were involved in labor contracts earlier this year.@@@@1@27@@oe@2-2-2013
20194018@unknown@formal@none@1@S@He said USX also appeared to sell a richer mix of steel products, such as the more profitable pipe and galvanized coated sheet, than lower-priced structural goods.@@@@1@27@@oe@2-2-2013
20194019@unknown@formal@none@1@S@The energy segment, with a 15% rise in operating profit, is clearly the company's strongest.@@@@1@15@@oe@2-2-2013
20194020@unknown@formal@none@1@S@Higher crude oil prices helped boost operating profit for the Marathon Oil Co. unit to $198 million from $180 million.@@@@1@20@@oe@2-2-2013
20194021@unknown@formal@none@1@S@The Texas Oil & Gas division continues to operate in the red, although losses narrowed to $9 million from $15 million.@@@@1@21@@oe@2-2-2013
20194022@unknown@formal@none@1@S@USX announced in October that it was soliciting bids to sell TXO's oil and gas reserves.@@@@1@16@@oe@2-2-2013
20194023@unknown@formal@none@1@S@Proceeds of that sale are to be used to reduce debt and buy back shares.@@@@1@15@@oe@2-2-2013
20194024@unknown@formal@none@1@S@The company noted that it has reduced debt by $1.6 billion since the end of 1988 and bought back about 15.5 million shares of common stock since the fourth quarter of 1987.@@@@1@32@@oe@2-2-2013
20194025@unknown@formal@none@1@S@USX has about $5.5 billion in long-term debt and 257 million shares outstanding.@@@@1@13@@oe@2-2-2013
20194026@unknown@formal@none@1@S@The announced sale of the reserves was followed by news that investor Carl Icahn had increased his stake in USX to 13.1% and threatened a takeover or other business combination.@@@@1@30@@oe@2-2-2013
20194027@unknown@formal@none@1@S@Mr. Icahn has said he believes USX would be worth more if broken up into steel and energy segments.@@@@1@19@@oe@2-2-2013
20194028@unknown@formal@none@1@S@Profit for the nine months jumped 21% to $721 million, or $2.62 a share, from $598 million, or $2.07 a share.@@@@1@21@@oe@2-2-2013
20194029@unknown@formal@none@1@S@Sales rose 10% to $13.8 billion from $12.5 billion.@@@@1@9@@oe@2-2-2013
20195001@unknown@formal@none@1@S@John F. Barrett, 40, formerly executive vice president and chief financial officer, was named president and chief operating officer, posts which had been vacant.@@@@1@24@@oe@2-2-2013
20196001@unknown@formal@none@1@S@Leon J. Level, vice president and chief financial officer of this computer services concern, and F. Warren McFarlan, a professor at Harvard University's Graduate School of Business, were elected directors, increasing board membership to nine.@@@@1@35@@oe@2-2-2013
20197001@unknown@formal@none@1@S@David A. DiLoreto, president of metal container division, was named to the additional post of group vice president, packaging products, at this packaging, industrial and aerospace products concern, succeeding Delmont A. Davis, who was named president and chief operating officer in August.@@@@1@42@@oe@2-2-2013
20198001@unknown@formal@none@1@S@Two leading constitutional-law experts said President Bush doesn't have the legal authority to exercise a line-item veto.@@@@1@17@@oe@2-2-2013
20198002@unknown@formal@none@1@S@Professors Philip Kurland of the University of Chicago and Laurence Tribe of Harvard Law School said any effort by President Bush to claim authority for a line-item veto would contradict the text of the Constitution and the intent of its authors, as well as the views of previous presidents.@@@@1@49@@oe@2-2-2013
20198003@unknown@formal@none@1@S@A line-item veto is a procedure that would allow a president to veto part of a big congressional spending bill without having to scuttle the entire measure.@@@@1@27@@oe@2-2-2013
20198004@unknown@formal@none@1@S@Mr. Bush has said he would like to be able to use this procedure.@@@@1@14@@oe@2-2-2013
20198005@unknown@formal@none@1@S@A White House spokesman said last week that the president is considering declaring that the Constitution implicitly gives him the authority for a line-item veto to provoke a test case.@@@@1@30@@oe@2-2-2013
20198006@unknown@formal@none@1@S@But the two legal experts, responding to an inquiry by Sen. Edward Kennedy (D., Mass.), wrote in a joint letter that the president "lacks the constitutional authority to exercise a line-item veto."@@@@1@32@@oe@2-2-2013
20198007@unknown@formal@none@1@S@The two professors represent different ends of the political spectrum -- Mr. Kurland is a conservative and Mr. Tribe is a liberal.@@@@1@22@@oe@2-2-2013
20198008@unknown@formal@none@1@S@The two professors said the Constitution authorizes the president to veto entire bills, not partial measures.@@@@1@16@@oe@2-2-2013
20198009@unknown@formal@none@1@S@Moreover, they said the first appropriations bill passed 200 years ago covered many different items, and there was no discussion of a line-item veto.@@@@1@24@@oe@2-2-2013
20198010@unknown@formal@none@1@S@They also said that more than a dozen presidents have called for line-item veto authority since the Civil War, and "all have shared the view that such lawmaking power is beyond the reach" of the president.@@@@1@36@@oe@2-2-2013
20198011@unknown@formal@none@1@S@Sen. Kennedy said in a separate statement that he supports legislation to give the president line-item veto power, but that it would be a "reckless course of action" for President Bush to claim the authority without congressional approval.@@@@1@38@@oe@2-2-2013
20199001@unknown@formal@none@1@S@Trinity Industries Inc. said it reached a preliminary agreement to sell 500 railcar platforms to Trailer Train Co. of Chicago.@@@@1@20@@oe@2-2-2013
20199002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20199003@unknown@formal@none@1@S@Trinity said it plans to begin delivery in the first quarter of next year.@@@@1@14@@oe@2-2-2013
20200001@unknown@formal@none@1@S@In an Oct. 19 review of "The Misanthrope" at Chicago's Goodman Theatre ("Revitalized Classics Take the Stage in Windy City," Leisure & Arts), the role of Celimene, played by Kim Cattrall, was mistakenly attributed to Christina Haag.@@@@1@37@@oe@2-2-2013
20200002@unknown@formal@none@1@S@Ms. Haag plays Elianti.@@@@1@4@@oe@2-2-2013
20201001@unknown@formal@none@1@S@Rolls-Royce Motor Cars Inc. said it expects its U.S. sales to remain steady at about 1,200 cars in 1990.@@@@1@19@@oe@2-2-2013
20201002@unknown@formal@none@1@S@The luxury auto maker last year sold 1,214 cars in the U.S.@@@@1@12@@oe@2-2-2013
20201003@unknown@formal@none@1@S@Howard Mosher, president and chief executive officer, said he anticipates growth for the luxury auto maker in Britain and Europe, and in Far Eastern markets.@@@@1@25@@oe@2-2-2013
20202001@unknown@formal@none@1@S@BELL INDUSTRIES Inc. increased its quarterly to 10 cents from seven cents a share.@@@@1@14@@oe@2-2-2013
20202002@unknown@formal@none@1@S@The new rate will be payable Feb. 15.@@@@1@8@@oe@2-2-2013
20202003@unknown@formal@none@1@S@A record date hasn't been set.@@@@1@6@@oe@2-2-2013
20202004@unknown@formal@none@1@S@Bell, based in Los Angeles, makes and distributes electronic, computer and building products.@@@@1@13@@oe@2-2-2013
20203001@unknown@formal@none@1@S@Investors are appealing to the Securities and Exchange Commission not to limit their access to information about stock purchases and sales by corporate insiders.@@@@1@24@@oe@2-2-2013
20203002@unknown@formal@none@1@S@A SEC proposal to ease reporting requirements for some company executives would undermine the usefulness of information on insider trades as a stock-picking tool, individual investors and professional money managers contend.@@@@1@31@@oe@2-2-2013
20203003@unknown@formal@none@1@S@They make the argument in letters to the agency about rule changes proposed this past summer that, among other things, would exempt many middle-management executives from reporting trades in their own companies' shares.@@@@1@33@@oe@2-2-2013
20203004@unknown@formal@none@1@S@The proposed changes also would allow executives to report exercises of options later and less often.@@@@1@16@@oe@2-2-2013
20203005@unknown@formal@none@1@S@Many of the letters maintain that investor confidence has been so shaken by the 1987 stock market crash -- and the markets already so stacked against the little guy -- that any decrease in information on insider-trading patterns might prompt individuals to get out of stocks altogether.@@@@1@47@@oe@2-2-2013
20203006@unknown@formal@none@1@S@"The SEC has historically paid obeisance to the ideal of a level playing field," wrote Clyde S. McGregor of Winnetka, Ill., in one of the 92 letters the agency has received since the changes were proposed Aug. 17.@@@@1@38@@oe@2-2-2013
20203007@unknown@formal@none@1@S@"Apparently the commission did not really believe in this ideal."@@@@1@10@@oe@2-2-2013
20203008@unknown@formal@none@1@S@Currently, the rules force executives, directors and other corporate insiders to report purchases and sales of their companies' shares within about a month after the transaction.@@@@1@26@@oe@2-2-2013
20203009@unknown@formal@none@1@S@But about 25% of the insiders, according to SEC figures, file their reports late.@@@@1@14@@oe@2-2-2013
20203010@unknown@formal@none@1@S@The changes were proposed in an effort to streamline federal bureaucracy and boost compliance by the executives "who are really calling the shots," said Brian Lane, special counsel at the SEC's office of disclosure policy, which proposed the changes.@@@@1@39@@oe@2-2-2013
20203011@unknown@formal@none@1@S@Investors, money managers and corporate officials had until today to comment on the proposals, and the issue has produced more mail than almost any other issue in memory, Mr. Lane said.@@@@1@31@@oe@2-2-2013
20203012@unknown@formal@none@1@S@The SEC will probably vote on the proposal early next year, he said.@@@@1@13@@oe@2-2-2013
20203013@unknown@formal@none@1@S@Not all those who wrote oppose the changes.@@@@1@8@@oe@2-2-2013
20203014@unknown@formal@none@1@S@The Committee on Federal Regulation of Securities for the American Bar Association argues, for example, in its lengthy letter to the SEC, that the proposed changes "would substantially improve the {law} by conforming it more closely to contemporary business realities."@@@@1@40@@oe@2-2-2013
20203015@unknown@formal@none@1@S@What the investors who oppose the proposed changes object to most is the effect they say the proposal would have on their ability to spot telltale "clusters" of trading activity -- buying or selling by more than one officer or director within a short period of time.@@@@1@47@@oe@2-2-2013
20203016@unknown@formal@none@1@S@According to some estimates, the rule changes would cut insider filings by more than a third.@@@@1@16@@oe@2-2-2013
20203017@unknown@formal@none@1@S@The SEC's Mr. Lane vehemently disputed those estimates.@@@@1@8@@oe@2-2-2013
20203018@unknown@formal@none@1@S@The rules will eliminate filings policy-making divisions, such as sales, marketing, finance and research and development, Mr. Lane said.@@@@1@19@@oe@2-2-2013
20203019@unknown@formal@none@1@S@The proposed rules also would be tougher on the insiders still required to file reports, he said.@@@@1@17@@oe@2-2-2013
20203020@unknown@formal@none@1@S@Companies would be compelled to publish in annual proxy statements the names of insiders who fail to file reports on time.@@@@1@21@@oe@2-2-2013
20203021@unknown@formal@none@1@S@Considered as a whole, Mr. Lane said, the filings required under the proposed rules "will be at least as effective, if not more so, for investors following transactions."@@@@1@28@@oe@2-2-2013
20203022@unknown@formal@none@1@S@But Robert Gabele, president of Invest/Net, a North Miami, Fla., company that packages and sells the insider-trading data, said the proposal is worded so vaguely that key officials may fail to file the reports.@@@@1@34@@oe@2-2-2013
20203023@unknown@formal@none@1@S@Many investors wrote asking the SEC to require insiders to report their purchases and sales immediately, not a month later.@@@@1@20@@oe@2-2-2013
20203024@unknown@formal@none@1@S@But Mr. Lane said that while the SEC regulates who files, the law tells them when to do so.@@@@1@19@@oe@2-2-2013
20203025@unknown@formal@none@1@S@Investors who want to change the required timing should write their representatives in Congress, he added.@@@@1@16@@oe@2-2-2013
20203026@unknown@formal@none@1@S@The SEC would likely be amenable to legislation that required insiders to file transactions on a more timely basis, he said.@@@@1@21@@oe@2-2-2013
20204001@unknown@formal@none@1@S@The nation's largest pension fund, which oversees $80 billion for college employees, plans to offer two new investment options to its 1.2 million participants.@@@@1@24@@oe@2-2-2013
20204002@unknown@formal@none@1@S@The Teachers Insurance and Annuity Association-College Retirement Equities Fund said it will introduce a stock and bond fund that will invest in "socially responsible" companies, and a bond fund.@@@@1@29@@oe@2-2-2013
20204003@unknown@formal@none@1@S@Both funds are expected to begin operation around March 1, subject to Securities and Exchange Commission approval.@@@@1@17@@oe@2-2-2013
20204004@unknown@formal@none@1@S@For its employees to sign up for the options, a college also must approve the plan.@@@@1@16@@oe@2-2-2013
20204005@unknown@formal@none@1@S@Some 4,300 institutions are part of the pension fund.@@@@1@9@@oe@2-2-2013
20204006@unknown@formal@none@1@S@The new options carry out part of an agreement that the pension fund, under pressure to relax its strict participation rules and to provide more investment options, reached with the SEC in December.@@@@1@33@@oe@2-2-2013
20204007@unknown@formal@none@1@S@The new "social choice" fund will shun securities of companies linked to South Africa, nuclear power and in some cases, Northern Ireland.@@@@1@22@@oe@2-2-2013
20204008@unknown@formal@none@1@S@Also excluded will be investments in companies with "significant" business stemming from weapons manufacture, alcoholic beverages or tobacco.@@@@1@18@@oe@2-2-2013
20204009@unknown@formal@none@1@S@Sixty percent of the fund will be invested in stocks, with the rest going into bonds or short-term investments.@@@@1@19@@oe@2-2-2013
20204010@unknown@formal@none@1@S@The bond fund will invest in high-grade or medium-grade bonds, mortgages or asset-backed securities, including as much as 15% in foreign securities.@@@@1@22@@oe@2-2-2013
20204011@unknown@formal@none@1@S@The fund also might buy and sell futures and options contracts, subject to approval by the New York State Insurance Department.@@@@1@21@@oe@2-2-2013
20204012@unknown@formal@none@1@S@Under two new features, participants will be able to transfer money from the new funds to other investment funds or, if their jobs are terminated, receive cash from the funds.@@@@1@30@@oe@2-2-2013
20204013@unknown@formal@none@1@S@The investment choices offered by the pension fund currently are limited to a stock fund, an annuity and a money-market fund.@@@@1@21@@oe@2-2-2013
20205001@unknown@formal@none@1@S@New Brunswick Scientific Co., a maker of biotechnology instrumentation and equipment, said it adopted an anti-takeover plan giving shareholders the right to purchase shares at half price under certain conditions.@@@@1@30@@oe@2-2-2013
20205002@unknown@formal@none@1@S@The company said the plan, under review for some time, will protect shareholders against "abusive takeover tactics.@@@@1@17@@oe@2-2-2013
20206001@unknown@formal@none@1@S@W. Ed Tyler, 37 years old, a senior vice president at this printing concern, was elected president of its technology group, a new position.@@@@1@24@@oe@2-2-2013
20207001@unknown@formal@none@1@S@Solo woodwind players have to be creative if they want to work a lot, because their repertoire and audience appeal are limited.@@@@1@22@@oe@2-2-2013
20207002@unknown@formal@none@1@S@The oboist Heinz Holliger has taken a hard line about the problem: He commissions and splendidly interprets fearsome contemporary scores and does some conducting, so he doesn't have to play the same Mozart and Strauss concertos over and over again.@@@@1@40@@oe@2-2-2013
20207003@unknown@formal@none@1@S@Richard Stoltzman has taken a gentler, more audience-friendly approach.@@@@1@9@@oe@2-2-2013
20207004@unknown@formal@none@1@S@Years ago, he collaborated with the new music gurus Peter Serkin and Fred Sherry in the very countercultural chamber group Tashi, which won audiences over to dreaded contemporary scores like Messiaen's "Quartet for the End of Time."@@@@1@37@@oe@2-2-2013
20207005@unknown@formal@none@1@S@Today, the pixie-like clarinetist has mostly dropped the missionary work (though a touch of the old Tashi still survives) and now goes on the road with piano, bass, a slide show, and a repertoire that ranges from light classical to light jazz to light pop, with a few notable exceptions.@@@@1@50@@oe@2-2-2013
20207006@unknown@formal@none@1@S@Just the thing for the Vivaldi-at-brunch set, the yuppie audience that has embraced New Age as its very own easy listening.@@@@1@21@@oe@2-2-2013
20207007@unknown@formal@none@1@S@But you can't dismiss Mr. Stoltzman's music or his motives as merely commercial and lightweight.@@@@1@15@@oe@2-2-2013
20207008@unknown@formal@none@1@S@He believes in what he plays, and he plays superbly.@@@@1@10@@oe@2-2-2013
20207009@unknown@formal@none@1@S@His recent appearance at the Metropolitan Museum, dubbed "A Musical Odyssey," was a case in point.@@@@1@16@@oe@2-2-2013
20207010@unknown@formal@none@1@S@It felt more like a party, or a highly polished jam session with a few friends, than a classical concert.@@@@1@20@@oe@2-2-2013
20207011@unknown@formal@none@1@S@Clad in his trademark black velvet suit, the soft-spoken clarinetist announced that his new album, "Inner Voices," had just been released, that his family was in the front row, and that it was his mother's birthday, so he was going to play her favorite tune from the record.@@@@1@48@@oe@2-2-2013
20207012@unknown@formal@none@1@S@He launched into Saint-Saens's "The Swan" from "Carnival of the Animals," a favorite encore piece for cellists, with lovely, glossy tone and no bite.@@@@1@24@@oe@2-2-2013
20207013@unknown@formal@none@1@S@Then, as if to show that he could play fast as well, he offered the second movement from Saint-Saens's Sonata for Clarinet, a whimsical, puckish tidbit that reflected the flip side of the Stoltzman personality.@@@@1@35@@oe@2-2-2013
20207014@unknown@formal@none@1@S@And so it went through the first half: an ingeniously chosen potpourri of pieces, none longer than five minutes, none that would disturb or challenge a listener.@@@@1@27@@oe@2-2-2013
20207015@unknown@formal@none@1@S@Mr. Stoltzman introduced his colleagues: Bill Douglas, pianist/bassoonist/composer and an old buddy from Yale, and jazz bassist Eddie Gomez.@@@@1@19@@oe@2-2-2013
20207016@unknown@formal@none@1@S@An improvisational section was built around pieces by Mr. Douglas, beginning with "Golden Rain," a lilting, laid-back lead in to the uptempo "Sky," which gave Mr. Stoltzman the opportunity to wail in a high register and show off his fleet fingers.@@@@1@41@@oe@2-2-2013
20207017@unknown@formal@none@1@S@Bach's "Air" followed.@@@@1@3@@oe@2-2-2013
20207018@unknown@formal@none@1@S@Mr. Stoltzman tied the composer in by proclaiming him "the great improviser of the 18th century," and then built on the image by joining with Mr. Douglas in some Bach two-part inventions, cleverly arranged for clarinet and bassoon by Mr. Douglas.@@@@1@41@@oe@2-2-2013
20207019@unknown@formal@none@1@S@Keeping the mood light, the two then chanted and chortled their way through some murderous polyrhythms, devised by Mr. Douglas as an alternative to Hindemith's dry theory-teaching techniques, and then, with Mr. Gomez, soared and improvised on the composer's tight "Bebop Etudes."@@@@1@42@@oe@2-2-2013
20207020@unknown@formal@none@1@S@The end of the first half, however, brought what the standing-room-only crowd seemed to be waiting for: the pop singer Judy Collins, who appears on "Inner Voices."@@@@1@27@@oe@2-2-2013
20207021@unknown@formal@none@1@S@Glamorous and pure-voiced as ever, Ms. Collins sang Joni Mitchell's "For Free" -- about an encounter with a street-corner clarinetist, to which Mr. Stoltzman contributed a clarinet obligatto -- and Mr. Douglas's lush setting of a Gaelic blessing, "Deep Peace."@@@@1@40@@oe@2-2-2013
20207022@unknown@formal@none@1@S@"Deep Peace" also featured a slide show of lovely but predictable images of clouds, beaches, deserts, sunsets, etc.@@@@1@18@@oe@2-2-2013
20207023@unknown@formal@none@1@S@It was all too mellow to be believed, but they probably would have gotten away with it, had they not felt compelled to add Ms. Collins's signature tune, "Amazing Grace," and ask for audience participation.@@@@1@35@@oe@2-2-2013
20207024@unknown@formal@none@1@S@That went over the permissible line for warm and fuzzy feelings.@@@@1@11@@oe@2-2-2013
20207025@unknown@formal@none@1@S@Was this why some of the audience departed before or during the second half?@@@@1@14@@oe@2-2-2013
20207026@unknown@formal@none@1@S@Or was it because Ms. Collins had gone?@@@@1@8@@oe@2-2-2013
20207027@unknown@formal@none@1@S@Either way it was a pity, because Mr. Stolzman offered the most substantial music of the evening just after intermission: Steve Reich's "New York Counterpoint," one of a series of Reich works that juxtapose a live performer with recorded tracks of his or her own playing.@@@@1@46@@oe@2-2-2013
20207028@unknown@formal@none@1@S@(Mr. Reich's new "Different Trains" for string quartet uses the technique magisterially.)@@@@1@12@@oe@2-2-2013
20207029@unknown@formal@none@1@S@Mr. Stoltzman must have worried that his audience might not be able to take it: He warned us in advance that "New York Counterpoint" lasts 11 1/2 minutes.@@@@1@28@@oe@2-2-2013
20207030@unknown@formal@none@1@S@He also unfortunately illustrated this intricate, jazzy tapestry with Mr. Pearson's images, this time of geometric or repeating objects, in a kitschy mirroring of the musical structure that was thoroughly distracting from Mr. Reich's piece and Mr. Stoltzman's elegant execution of it.@@@@1@42@@oe@2-2-2013
20207031@unknown@formal@none@1@S@The rest of the concert was more straight jazz and mellow sounds written by Charlie Parker, Ornette Coleman, Bill Douglas and Eddie Gomez, with pictures for the Douglas pieces.@@@@1@29@@oe@2-2-2013
20207032@unknown@formal@none@1@S@It was enjoyable to hear accomplished jazz without having to sit in a smoke-filled club, but like the first half, much of it was easy to take and ultimately forgettable.@@@@1@30@@oe@2-2-2013
20207033@unknown@formal@none@1@S@Is this the future of chamber music?@@@@1@7@@oe@2-2-2013
20207034@unknown@formal@none@1@S@Managers and presenters insist that chamber music concerts are a hard sell, but can audiences really enjoy them only if the music is purged of threatening elements, served up in bite-sized morsels and accompanied by visuals?@@@@1@36@@oe@2-2-2013
20207035@unknown@formal@none@1@S@What's next?@@@@1@2@@oe@2-2-2013
20207036@unknown@formal@none@1@S@Slides to illustrate Shostakovich quartets?@@@@1@5@@oe@2-2-2013
20207037@unknown@formal@none@1@S@It was not an unpleasant evening, certainly, thanks to the high level of performance, the compositional talents of Mr. Douglas, and the obvious sincerity with which Mr. Stoltzman chooses his selections.@@@@1@31@@oe@2-2-2013
20207038@unknown@formal@none@1@S@But it was neither deep nor lasting: light entertainment that was no substitute for an evening of Brahms.@@@@1@18@@oe@2-2-2013
20207039@unknown@formal@none@1@S@Ms. Waleson is a free-lance writer based in New York.@@@@1@10@@oe@2-2-2013
20208001@unknown@formal@none@1@S@One of Ronald Reagan's attributes as President was that he rarely gave his blessing to the claptrap that passes for "consensus" in various international institutions.@@@@1@25@@oe@2-2-2013
20208002@unknown@formal@none@1@S@In fact, he liberated the U.S. from one of the world's most corrupt organizations -- UNESCO.@@@@1@16@@oe@2-2-2013
20208003@unknown@formal@none@1@S@This is the U.N. group that managed to traduce its own charter of promoting education, science and culture.@@@@1@18@@oe@2-2-2013
20208004@unknown@formal@none@1@S@Ever since, the remaining members have been desperate for the United States to rejoin this dreadful group.@@@@1@17@@oe@2-2-2013
20208005@unknown@formal@none@1@S@Now UNESCO apologists are lobbying President Bush to renege on President Reagan's decision to depart.@@@@1@15@@oe@2-2-2013
20208006@unknown@formal@none@1@S@But we can think of many reasons to stay out for the foreseeable future and well beyond.@@@@1@17@@oe@2-2-2013
20208007@unknown@formal@none@1@S@The U.S., along with Britain and Singapore, left the agency when its anti-Western ideology, financial corruption and top leadership got out of hand.@@@@1@23@@oe@2-2-2013
20208008@unknown@formal@none@1@S@The personal antics of agency Director Amadou-Mahtar M'Bow drew much attention, such as when several of his top aides were uncovered as KGB plants and ejected from France and when a mysterious office fire was set just before Congress sent accountants to trace U.S. funds.@@@@1@45@@oe@2-2-2013
20208009@unknown@formal@none@1@S@Mr. M'Bow was an extreme case, but even his replacement, the more personally genial Spanish biochemist Federico Mayor, has had little success at achieving reforms.@@@@1@25@@oe@2-2-2013
20208010@unknown@formal@none@1@S@Several ridiculous projects continue, including the "New International Economic Order," which means redistributionism from the West to pay for everyone else's statism.@@@@1@22@@oe@2-2-2013
20208011@unknown@formal@none@1@S@The Orwellian "New World Information Order" would give government officials rights against the press; journalists would be obliged to kowtow to their government, which would have licensing and censorship powers and, indeed, duties to block printing of "wrong" ideas.@@@@1@39@@oe@2-2-2013
20208012@unknown@formal@none@1@S@UNESCO somehow converted the founding U.N. ideals of individual rights and liberty into "peoples' rights."@@@@1@15@@oe@2-2-2013
20208013@unknown@formal@none@1@S@Million-dollar conferences were held to chew on subjects such as "ethical responsibilities of scientists in support of disarmament" and "the impact of the activities of transnational corporations."@@@@1@27@@oe@2-2-2013
20208014@unknown@formal@none@1@S@The agency was so totally subverted from the high principles of its founding that even the Soviets now wonder about an agency that seemed so congenial to them.@@@@1@28@@oe@2-2-2013
20208015@unknown@formal@none@1@S@Glasnost may be partly responsible, but Soviet Foreign Minister Eduard Shevardnadze last year admitted, "The exaggerated ideological approach undermined tolerance intrinsic to UNESCO."@@@@1@23@@oe@2-2-2013
20208016@unknown@formal@none@1@S@UNESCO is now holding its biennial meetings in Paris to devise its next projects.@@@@1@14@@oe@2-2-2013
20208017@unknown@formal@none@1@S@Mr. Mayor's hope that references to "press freedom" would survive unamended seems doomed to failure; the current phrasing is "educating the public and media to avoid manipulation."@@@@1@27@@oe@2-2-2013
20208018@unknown@formal@none@1@S@He hasn't been able to replace the M'Bow cabal.@@@@1@9@@oe@2-2-2013
20208019@unknown@formal@none@1@S@Soviets remain in charge of education programs, a former head of an African military tribunal for executions is in charge of culture, and a hard-line Polish communist in exile directs the human-rights and peace division.@@@@1@35@@oe@2-2-2013
20208020@unknown@formal@none@1@S@Of the agency's 2,750 staff members, 230 are in the field working on actual projects, such as literacy and oceanographic research.@@@@1@21@@oe@2-2-2013
20208021@unknown@formal@none@1@S@The position of the United States, which once contributed 25% of the budget, is that nothing has changed.@@@@1@18@@oe@2-2-2013
20208022@unknown@formal@none@1@S@John Bolton, the assistant secretary of state for international organizations, told Congress that the continuing "statist, restrictive, nondemocratic" programs make rejoining any time soon "extremely unlikely."@@@@1@26@@oe@2-2-2013
20208023@unknown@formal@none@1@S@This hasn't much bothered the UNESCO delegates, who last week couldn't even agree to raise funds by selling off a fancy 19th-century French chateau the agency somehow owns.@@@@1@28@@oe@2-2-2013
20208024@unknown@formal@none@1@S@Other countries, including West Germany, may have a hard time justifying continued membership.@@@@1@13@@oe@2-2-2013
20208025@unknown@formal@none@1@S@We see an even stronger argument against UNESCO than its unsurprising failure to reform.@@@@1@14@@oe@2-2-2013
20208026@unknown@formal@none@1@S@This is that the Reagan Revolution spanning Eastern Europe and Tiananmen Square shows the power of ideas unencumbered by international civil servants or government functionaries.@@@@1@25@@oe@2-2-2013
20208027@unknown@formal@none@1@S@Free markets, free minds and free elections have an appeal that seems to get muddled only when delivered through U.N. organizations -- which of course are made up largely of governments that fear these principles at home.@@@@1@37@@oe@2-2-2013
20208028@unknown@formal@none@1@S@The Babelists of the United Nations are experts at obfuscation.@@@@1@10@@oe@2-2-2013
20208029@unknown@formal@none@1@S@This can have its purposes at times, but there's no reason to cloud the importance and allure of Western concepts of freedom and justice.@@@@1@24@@oe@2-2-2013
20208030@unknown@formal@none@1@S@We can see plenty of reasons to stay out, and none to rejoin UNESCO.@@@@1@14@@oe@2-2-2013
20209001@unknown@formal@none@1@S@Researchers at Plant Genetic Systems N.V. in Belgium said they have developed a genetic engineering technique for creating hybrid plants for a number of key crops.@@@@1@26@@oe@2-2-2013
20209002@unknown@formal@none@1@S@The researchers said they have isolated a plant gene that prevents the production of pollen.@@@@1@15@@oe@2-2-2013
20209003@unknown@formal@none@1@S@The gene thus can prevent a plant from fertilizing itself.@@@@1@10@@oe@2-2-2013
20209004@unknown@formal@none@1@S@Such so-called male-sterile plants can then be fertilized by pollen from another strain of the plant, thereby producing hybrid seed.@@@@1@20@@oe@2-2-2013
20209005@unknown@formal@none@1@S@The new generation of plants will possess the flourishing, high-production trait known as "hybrid vigor," similar to that now seen in hybrid corn.@@@@1@23@@oe@2-2-2013
20209006@unknown@formal@none@1@S@"The development could have a dramatic effect on farm production, especially cotton," said Murray Robinson, president of Delta & Pine Land Co., a Southwide Inc. subsidiary that is one of the largest cotton seed producers in the U.S.@@@@1@38@@oe@2-2-2013
20209007@unknown@formal@none@1@S@On a commercial scale, the sterilization of the pollen-producing male part has only been achieved in corn and sorghum feed grains.@@@@1@21@@oe@2-2-2013
20209008@unknown@formal@none@1@S@That's because the male part, the tassel, and the female, the ear, are some distance apart on the corn plant.@@@@1@20@@oe@2-2-2013
20209009@unknown@formal@none@1@S@In a labor-intensive process, the seed companies cut off the tassels of each plant, making it male sterile.@@@@1@18@@oe@2-2-2013
20209010@unknown@formal@none@1@S@They sow a row of male-fertile plants nearby, which then pollinate the male-sterile plants.@@@@1@14@@oe@2-2-2013
20209011@unknown@formal@none@1@S@The first hybrid corn seeds produced using this mechanical approach were introduced in the 1930s and they yielded as much as 20% more corn than naturally pollinated plants.@@@@1@28@@oe@2-2-2013
20209012@unknown@formal@none@1@S@The vast majority of the U.S. corn crop now is grown from hybrid seeds produced by seed companies.@@@@1@18@@oe@2-2-2013
20209013@unknown@formal@none@1@S@A similar technique is almost impossible to apply to other crops, such as cotton, soybeans and rice.@@@@1@17@@oe@2-2-2013
20209014@unknown@formal@none@1@S@The male part, the anthers of the plant, and the female, the pistils, of the same plant are within a fraction of an inch or even attached to each other.@@@@1@30@@oe@2-2-2013
20209015@unknown@formal@none@1@S@The anthers in these plants are difficult to clip off.@@@@1@10@@oe@2-2-2013
20209016@unknown@formal@none@1@S@In China, a great number of workers are engaged in pulling out the male organs of rice plants using tweezers, and one-third of rice produced in that country is grown from hybrid seeds.@@@@1@33@@oe@2-2-2013
20209017@unknown@formal@none@1@S@At Plant Genetic Systems, researchers have isolated a pollen-inhibiting gene that can be inserted in a plant to confer male sterility.@@@@1@21@@oe@2-2-2013
20209018@unknown@formal@none@1@S@Jan Leemans, research director, said this gene was successfully introduced in oil-producing rapeseed plants, a major crop in Europe and Canada, using as a carrier a "promoter gene" developed by Robert Goldberg at the University of California in Los Angeles.@@@@1@40@@oe@2-2-2013
20209019@unknown@formal@none@1@S@The sterilizing gene is expressed just before the pollen is about to develop and it deactivates the anthers of every flower in the plant.@@@@1@24@@oe@2-2-2013
20209020@unknown@formal@none@1@S@Mr. Leemans said this genetic manipulation doesn't hurt the growth of that plant.@@@@1@13@@oe@2-2-2013
20209021@unknown@formal@none@1@S@The researchers also pulled off a second genetic engineering trick in order to get male-sterile plants in large enough numbers to produce a commercial hybrid seed crop.@@@@1@27@@oe@2-2-2013
20209022@unknown@formal@none@1@S@They attached a second gene, for herbicide resistance, to the pollen-inhibiting gene.@@@@1@12@@oe@2-2-2013
20209023@unknown@formal@none@1@S@Both genes are then inserted into a few greenhouse plants, which are then pollinated and allowed to mature and produce seed.@@@@1@21@@oe@2-2-2013
20209024@unknown@formal@none@1@S@The laws of heredity dictate that half of the plants springing from these greenhouse-produced seeds will be male sterile and herbicide resistant and half will be male fertile and herbicide susceptible.@@@@1@31@@oe@2-2-2013
20209025@unknown@formal@none@1@S@The application of herbicide would kill off the male-fertile plants, leaving a large field of male-sterile plants that can be cross-pollinated to produce hybrid seed.@@@@1@25@@oe@2-2-2013
20209026@unknown@formal@none@1@S@Mr. Leemans said the hybrid rapeseeds created with this genetic engineering yield 15% to 30% more output than the commercial strains used currently.@@@@1@23@@oe@2-2-2013
20209027@unknown@formal@none@1@S@"This technique is applicable to a wide variety of crops," he said, and added that some modifications may be necessary to accommodate the peculiarities of each type of crop.@@@@1@29@@oe@2-2-2013
20209028@unknown@formal@none@1@S@He said the company is experimenting with the technique on alfalfa, and plans to include cotton and corn, among other crops.@@@@1@21@@oe@2-2-2013
20209029@unknown@formal@none@1@S@He said that even though virtually all corn seeds currently planted are hybrids, the genetic approach will obviate the need for mechanical emasculation of anthers, which costs U.S. seed producers about $70 million annually.@@@@1@34@@oe@2-2-2013
20209030@unknown@formal@none@1@S@In recent years, demand for hybrid seeds has spurred research at a number of chemical and biotechnology companies, including Monsanto Co., Shell Oil Co. and Eli Lilly & Co.@@@@1@29@@oe@2-2-2013
20209031@unknown@formal@none@1@S@One technique developed by some of these companies involves a chemical spray supposed to kill only a plant's pollen.@@@@1@19@@oe@2-2-2013
20209032@unknown@formal@none@1@S@But there have been problems with chemical sprays damaging plants' female reproductive organs and concern for the toxicity of such chemical sprays to humans, animals and beneficial insects.@@@@1@28@@oe@2-2-2013
20209033@unknown@formal@none@1@S@However, Paul Johanson, Monsanto's director of plant sciences, said the company's chemical spray overcomes these problems and is "gentle on the female organ."@@@@1@23@@oe@2-2-2013
20209034@unknown@formal@none@1@S@Biosource Genetics Corp., Vacaville, Calif., is developing a spray containing a gene that spreads from cell to cell and interferes with the genes that are responsible for producing pollen.@@@@1@29@@oe@2-2-2013
20209035@unknown@formal@none@1@S@This gene, called "gametocide," is carried into the plant by a virus that remains active for a few days.@@@@1@19@@oe@2-2-2013
20209036@unknown@formal@none@1@S@Robert Erwin, president of Biosource, called Plant Genetic's approach "interesting" and "novel," and "complementary rather than competitive."@@@@1@17@@oe@2-2-2013
20209037@unknown@formal@none@1@S@"There is a large market out there hungry for hybrid seeds," he said.@@@@1@13@@oe@2-2-2013
20209038@unknown@formal@none@1@S@Mr. Robinson of Delta & Pine, the seed producer in Scott, Miss., said Plant Genetic's success in creating genetically engineered male steriles doesn't automatically mean it would be simple to create hybrids in all crops.@@@@1@35@@oe@2-2-2013
20209039@unknown@formal@none@1@S@That's because pollination, while easy in corn because the carrier is wind, is more complex and involves insects as carriers in crops such as cotton.@@@@1@25@@oe@2-2-2013
20209040@unknown@formal@none@1@S@"It's one thing to say you can sterilize, and another to then successfully pollinate the plant," he said.@@@@1@18@@oe@2-2-2013
20209041@unknown@formal@none@1@S@Nevertheless, he said, he is negotiating with Plant Genetic to acquire the technology to try breeding hybrid cotton.@@@@1@18@@oe@2-2-2013
20210001@unknown@formal@none@1@S@A bitter conflict with global implications has erupted between Nomura Securities Co. and Industrial Bank of Japan, two of the world's most powerful financial companies.@@@@1@25@@oe@2-2-2013
20210002@unknown@formal@none@1@S@The clash is a sign of a new toughness and divisiveness in Japan's once-cozy financial circles.@@@@1@16@@oe@2-2-2013
20210003@unknown@formal@none@1@S@Not only are Japan's financial institutions putting their enormous clout to work; increasingly they're squaring off against one another in unprecedented public fashion.@@@@1@23@@oe@2-2-2013
20210004@unknown@formal@none@1@S@Already, the consequences are being felt by other players in the financial markets -- even governments.@@@@1@16@@oe@2-2-2013
20210005@unknown@formal@none@1@S@What triggered the latest clash was a skirmish over the timing of a New Zealand government bond issue.@@@@1@18@@oe@2-2-2013
20210006@unknown@formal@none@1@S@Nomura was attempting to organize the 50 billion-yen ($352 million) borrowing in Japan at a time when many Japanese banks, led by Industrial Bank of Japan, were pressuring the Wellington government to help them recover loans made to a defunct investment bank that had been owned by New Zealand's civil-service pension fund.@@@@1@52@@oe@2-2-2013
20210007@unknown@formal@none@1@S@Unwilling to put up new money for New Zealand until those debts are repaid, most banks refused even to play administrative roles in the new financing, forcing an embarrassed Nomura to postpone it this week.@@@@1@35@@oe@2-2-2013
20210008@unknown@formal@none@1@S@The dispute shows clearly the global power of Japan's financial titans.@@@@1@11@@oe@2-2-2013
20210009@unknown@formal@none@1@S@Aside from Nomura's injured pride, the biggest victim so far has been the New Zealand government.@@@@1@16@@oe@2-2-2013
20210010@unknown@formal@none@1@S@Barred by its budget law from making any new domestic bond issues, Wellington's Debt Management Office had been casting abroad to raise the 3 billion New Zealand dollars (US$1.76 billion) to NZ$4 billion it needs to come up with by the end of its fiscal year next June 30.@@@@1@49@@oe@2-2-2013
20210011@unknown@formal@none@1@S@With Japan's cash-flush banks aligned against it, though, raising money may be difficult.@@@@1@13@@oe@2-2-2013
20210012@unknown@formal@none@1@S@Not only can they block Wellington from raising money in Japan, bankers here say, but as the largest underwriters in the Eurobond market, they might be able to scuttle borrowings there, too.@@@@1@32@@oe@2-2-2013
20210013@unknown@formal@none@1@S@New Zealand's finance minister, David Caygill, lashed out at such suggestions.@@@@1@11@@oe@2-2-2013
20210014@unknown@formal@none@1@S@He told reporters in Wellington Tuesday that the government hadn't guaranteed the loans to DFC New Zealand Ltd., an investment bank 80%-owned by the National Provident Fund, and wouldn't bail it out.@@@@1@32@@oe@2-2-2013
20210015@unknown@formal@none@1@S@"It may very well be what the Japanese banks want," he told Radio New Zealand.@@@@1@15@@oe@2-2-2013
20210016@unknown@formal@none@1@S@"I think it would be irresponsible and I am not about to be blackmailed by Japanese banks or any other international interests."@@@@1@22@@oe@2-2-2013
20210017@unknown@formal@none@1@S@No less significant than the Japanese banks' attempt to cut off funds to pressure a foreign government are the implications of a confrontation between Japan securities and banking industries.@@@@1@29@@oe@2-2-2013
20210018@unknown@formal@none@1@S@Anxiety is rising over recent government proposals to eventually lower the strict barriers that now separate -- and protect -- the two industries from each other.@@@@1@26@@oe@2-2-2013
20210019@unknown@formal@none@1@S@Both sides are jealously guarding their turf, and relations have been at a flashpoint for months.@@@@1@16@@oe@2-2-2013
20210020@unknown@formal@none@1@S@The banks badly want to break into all aspects of the securities business.@@@@1@13@@oe@2-2-2013
20210021@unknown@formal@none@1@S@Meanwhile, the securities companies -- most of them smaller than the banks -- are seeking access only to limited kinds of banking that wouldn't open them to the full brunt of competition from the banks.@@@@1@35@@oe@2-2-2013
20210022@unknown@formal@none@1@S@Nomura, the world's biggest securities company largely by virtue of its protected home field, and Industrial Bank of Japan, Japan's most innovative and aggressive bank in capital markets abroad, captain the opposing sides.@@@@1@33@@oe@2-2-2013
20210023@unknown@formal@none@1@S@And their suspicions of each other run deep.@@@@1@8@@oe@2-2-2013
20210024@unknown@formal@none@1@S@In the past year, both have tried to stretch the limits of their businesses.@@@@1@14@@oe@2-2-2013
20210025@unknown@formal@none@1@S@Nomura started a credit-card venture with American Express Co. that allowed cardholders to use their Nomura securities accounts like a bank account, attracting the wrath of banks.@@@@1@27@@oe@2-2-2013
20210026@unknown@formal@none@1@S@And Industrial Bank of Japan started up a London securities subsidiary that sells Japanese stocks to non-Japanese institutions overseas, a move that stirred the anger of the stock brokerage firms.@@@@1@30@@oe@2-2-2013
20210027@unknown@formal@none@1@S@The New Zealand bond issue simply has brought the two institutions face-to-face.@@@@1@12@@oe@2-2-2013
20211001@unknown@formal@none@1@S@ITEL CORP. reported third-quarter earnings, which were mistakenly shown in the Quarterly Earnings Surprises table in yesterday's edition to be lower than the average of analysts' estimates.@@@@1@27@@oe@2-2-2013
20211002@unknown@formal@none@1@S@On a pretax basis, Itel's third-quarter earnings of 30 cents a share were actually 7.14% higher than the average of estimates.@@@@1@21@@oe@2-2-2013
20212001@unknown@formal@none@1@S@Raymond E. Ross, 53 years old, formerly group vice president, U.S. plastics machinery, at this machine tool, plastics machinery and robots concern, was named senior vice president, industrial systems, succeeding David A. Entrekin, who resigned Monday.@@@@1@36@@oe@2-2-2013
20213001@unknown@formal@none@1@S@John A. Conlon Jr., 45, was named a managing director at this investment-banking company.@@@@1@14@@oe@2-2-2013
20213002@unknown@formal@none@1@S@He will be in charge of research, equity sales and trading, and the syndicate operation of Rothschild.@@@@1@17@@oe@2-2-2013
20213003@unknown@formal@none@1@S@Mr. Conlon was executive vice president and director of the equity division of the international division of Nikko Securities Co.@@@@1@20@@oe@2-2-2013
20214001@unknown@formal@none@1@S@As Yogi Berra might say, it's deja vu all over again.@@@@1@11@@oe@2-2-2013
20214002@unknown@formal@none@1@S@Crouched at shortstop, Bert Campaneris, once Oakland's master thief, effortlessly scoops up a groundball and flips it to second.@@@@1@19@@oe@2-2-2013
20214003@unknown@formal@none@1@S@In the outfield, Paul Blair, the Orioles' eight-time Gold Glove winner, elegantly shags a fly.@@@@1@15@@oe@2-2-2013
20214004@unknown@formal@none@1@S@On the mound, former Red Sox great Luis Tiant, the wily master of 1,001 moves, throws an off-speed strike.@@@@1@19@@oe@2-2-2013
20214005@unknown@formal@none@1@S@"Babies, kiddies," growls their manager -- a fellow named Earl Weaver, who, in a different time, handled four World Series teams and now handles the Gold Coast Suns.@@@@1@28@@oe@2-2-2013
20214006@unknown@formal@none@1@S@"Old-time kiddies," he says.@@@@1@4@@oe@2-2-2013
20214007@unknown@formal@none@1@S@Perhaps.@@@@1@1@@oe@2-2-2013
20214008@unknown@formal@none@1@S@But for the next few months, these boys of summers long past are going to be reveling in an Indian summer of the soul.@@@@1@24@@oe@2-2-2013
20214009@unknown@formal@none@1@S@Now that the baseball season is officially over, you see, it's time for a new season to begin.@@@@1@18@@oe@2-2-2013
20214010@unknown@formal@none@1@S@Today is the debut of the Senior Professional Baseball Association, a new eight-team pro sports circuit, modeled after the highly successful senior tennis and golf tours and complete with good salaries, a cable television contract and even expansion plans.@@@@1@39@@oe@2-2-2013
20214011@unknown@formal@none@1@S@One hundred and ninety two former greats, near greats, hardly knowns and unknowns begin a 72-game, three-month season in spring-training stadiums up and down Florida.@@@@1@25@@oe@2-2-2013
20214012@unknown@formal@none@1@S@For everyone involved, it's one more swig of that elixir of youth, baseball.@@@@1@13@@oe@2-2-2013
20214013@unknown@formal@none@1@S@"Someone always makes you quit," says legendary St. Louis Cardinals centerfielder Curt Flood, the league's commissioner.@@@@1@16@@oe@2-2-2013
20214014@unknown@formal@none@1@S@"You feel you want one more -- one more at-bat, one more hit, one more game."@@@@1@16@@oe@2-2-2013
20214015@unknown@formal@none@1@S@Until the baby-faced heroes of today reclaim these ballparks for spring training, there is one more.@@@@1@16@@oe@2-2-2013
20214016@unknown@formal@none@1@S@And not just for the players.@@@@1@6@@oe@2-2-2013
20214017@unknown@formal@none@1@S@It's one more for the baseball-loving lawyers, accountants and real estate developers who ponied up about $1 million each for the chance to be an owner, to step into the shoes of a Gene Autry or have a beer with Rollie Fingers.@@@@1@42@@oe@2-2-2013
20214018@unknown@formal@none@1@S@"Nothing can be better than this," says Don Sider, owner of the West Palm Beach Tropics.@@@@1@16@@oe@2-2-2013
20214019@unknown@formal@none@1@S@Early in the morning Mr. Sider, an estate lawyer, pores over last wills and testaments.@@@@1@15@@oe@2-2-2013
20214020@unknown@formal@none@1@S@Midmorning, he dons an orange-and-blue uniform and, for fun, may field a bunt from Dave Kingman.@@@@1@16@@oe@2-2-2013
20214021@unknown@formal@none@1@S@It's one more, too, for the fans who dream of a season that never ends.@@@@1@15@@oe@2-2-2013
20214022@unknown@formal@none@1@S@"I feel like a little kid," says a gleeful Alex de Castro, a car salesman, who has stopped by a workout of the Suns to slip six Campaneris cards to the Great Man Himself to be autographed.@@@@1@37@@oe@2-2-2013
20214023@unknown@formal@none@1@S@The league's promoters hope retirees and tourists will join die-hard fans like Mr. de Castro and pack the stands to see the seniors.@@@@1@23@@oe@2-2-2013
20214024@unknown@formal@none@1@S@The league is the brainchild of Colorado real estate developer James Morley -- once a minor-leaguer himself -- who says he had the idea last January while lying on a beach in Australia.@@@@1@33@@oe@2-2-2013
20214025@unknown@formal@none@1@S@When he sent letters offering 1,250 retired major leaguers the chance of another season, 730 responded.@@@@1@16@@oe@2-2-2013
20214026@unknown@formal@none@1@S@Eventually, about 250 made the trip to Florida to compete for the available slots.@@@@1@14@@oe@2-2-2013
20214027@unknown@formal@none@1@S@(Players have to be 35 or older, except for catchers, who are eligible at 32 because life behind the plate is so rough.)@@@@1@23@@oe@2-2-2013
20214028@unknown@formal@none@1@S@For some players, the lure is money -- up to $15,000 a month.@@@@1@13@@oe@2-2-2013
20214029@unknown@formal@none@1@S@Others, just released from the majors, hope the senior league will be their bridge back into the big-time.@@@@1@18@@oe@2-2-2013
20214030@unknown@formal@none@1@S@But as they hurl fireballs that smolder rather than burn, and relive old duels in the sun, it's clear that most are there to make their fans cheer again or recapture the camaraderie of seasons past or prove to themselves and their colleagues that they still have it -- or something close to it.@@@@1@54@@oe@2-2-2013
20214031@unknown@formal@none@1@S@"My fastball is good.@@@@1@4@@oe@2-2-2013
20214032@unknown@formal@none@1@S@Real good," says 39-year-old Pete Broberg, working in the midday heat of the Tropics camp.@@@@1@15@@oe@2-2-2013
20214033@unknown@formal@none@1@S@Mr. Broberg, who started with the now-defunct Washington Senators, says that when he left baseball in 1978, he "never looked back."@@@@1@21@@oe@2-2-2013
20214034@unknown@formal@none@1@S@For a long time, he ignored baseball altogether, even the sports pages.@@@@1@12@@oe@2-2-2013
20214035@unknown@formal@none@1@S@Now Mr. Broberg, a lawyer, claims he'd play for free.@@@@1@10@@oe@2-2-2013
20214036@unknown@formal@none@1@S@"You can't give it up that easily," he says.@@@@1@9@@oe@2-2-2013
20214037@unknown@formal@none@1@S@"I tried."@@@@1@2@@oe@2-2-2013
20214038@unknown@formal@none@1@S@The nagging memory of one afternoon fourteen years ago drove Jim Gideon, a lean 36-year-old righthander to take a four-month leave from selling insurance in Texas to try out for Mr. Weaver's team.@@@@1@33@@oe@2-2-2013
20214039@unknown@formal@none@1@S@"It doesn't replace pitching in the majors, but it proves to me that I would have been able to play if I'd stayed healthy," he says.@@@@1@26@@oe@2-2-2013
20214040@unknown@formal@none@1@S@Back in 1975, late in the season, a then-21 Mr. Gideon made his only major league appearance, five and two-thirds innings for the Texas Rangers against the Chicago White Sox.@@@@1@30@@oe@2-2-2013
20214041@unknown@formal@none@1@S@He gave up seven hits, walked five and didn't get a decision.@@@@1@12@@oe@2-2-2013
20214042@unknown@formal@none@1@S@Arm troubles forced him back to the minors the next year.@@@@1@11@@oe@2-2-2013
20214043@unknown@formal@none@1@S@"There's a satisfaction in going against the rules," offers Will McEnaney, once a stopper with Cincinnati's Big Red Machine.@@@@1@19@@oe@2-2-2013
20214044@unknown@formal@none@1@S@He means the rule that a player can't cut it after a certain age.@@@@1@14@@oe@2-2-2013
20214045@unknown@formal@none@1@S@These days he hustles to house-painting jobs in his Chevy pickup before and after training with the Tropics.@@@@1@18@@oe@2-2-2013
20214046@unknown@formal@none@1@S@While sipping a beer after practice, he vividly recounts getting the Red Sox's Carl Yastrzemski to pop out to end the 1975 World Series, and repeating the feat against the Yankees' Roy White in 1976.@@@@1@35@@oe@2-2-2013
20214047@unknown@formal@none@1@S@Some of the game's reigning philosophers dislike the idea of middle-aged men attempting a young man's sport.@@@@1@17@@oe@2-2-2013
20214048@unknown@formal@none@1@S@"I personally don't enjoy seeing players who I remember vividly from their playing days running about and being gallant about their deficiencies," says Roger Angell, New Yorker magazine's resident baseball sage.@@@@1@31@@oe@2-2-2013
20214049@unknown@formal@none@1@S@"I feel people should be allowed to remember players as they were."@@@@1@12@@oe@2-2-2013
20214050@unknown@formal@none@1@S@Worse, says baseball author Lawrence Ritter, "Someone will get a heart attack and that will be the end of the whole story."@@@@1@22@@oe@2-2-2013
20214051@unknown@formal@none@1@S@But the ballplayers disagree.@@@@1@4@@oe@2-2-2013
20214052@unknown@formal@none@1@S@Most are trim.@@@@1@3@@oe@2-2-2013
20214053@unknown@formal@none@1@S@Some have been training for months; others only recently left active status.@@@@1@12@@oe@2-2-2013
20214054@unknown@formal@none@1@S@(No one has worked out the players' average age, but most appear to be in their late 30s.)@@@@1@18@@oe@2-2-2013
20214055@unknown@formal@none@1@S@And there's pride.@@@@1@3@@oe@2-2-2013
20214056@unknown@formal@none@1@S@"I'm not going to look stupid," vows former Pittsburgh Pirate second baseman Rennie Stennett, sweat dotting his brow as he prepares for some practice swings.@@@@1@25@@oe@2-2-2013
20214057@unknown@formal@none@1@S@"It's going to be a tough league," promises the 47-year-old Mr. Campaneris.@@@@1@12@@oe@2-2-2013
20214058@unknown@formal@none@1@S@"There will be a lot of malice."@@@@1@7@@oe@2-2-2013
20214059@unknown@formal@none@1@S@Men who have played hard all their lives aren't about to change their habits, he says.@@@@1@16@@oe@2-2-2013
20214060@unknown@formal@none@1@S@Nonetheless, one can't help wonder whether the game will be just a little bit slower.@@@@1@15@@oe@2-2-2013
20214061@unknown@formal@none@1@S@At the weatherbeaten Pompano Beach municipal stadium, Mr. Blair, the 45-year-old former Oriole, knows his power isn't what it used to be.@@@@1@22@@oe@2-2-2013
20214062@unknown@formal@none@1@S@So he adjusts.@@@@1@3@@oe@2-2-2013
20214063@unknown@formal@none@1@S@He no longer crowds the plate.@@@@1@6@@oe@2-2-2013
20214064@unknown@formal@none@1@S@He's not thinking about home runs anymore, just base hits.@@@@1@10@@oe@2-2-2013
20214065@unknown@formal@none@1@S@Still, "how sweet it is," he says, savoring the fat sound of the well-hit line drive that bounces off the center field wall.@@@@1@23@@oe@2-2-2013
20214066@unknown@formal@none@1@S@And don't expect many complete games by pitchers -- perhaps three out of 288, laughs Mr. Fingers, the former Oakland reliever.@@@@1@21@@oe@2-2-2013
20214067@unknown@formal@none@1@S@Expect "tricky" stuff from pitchers, says Mr. Weaver, the manager.@@@@1@10@@oe@2-2-2013
20214068@unknown@formal@none@1@S@Expect brushbacks but no beanballs, says Mr. McEnaney.@@@@1@8@@oe@2-2-2013
20214069@unknown@formal@none@1@S@Even expect stolen bases, says the wiry and fit Mr. Campaneris: "If you know how to slide, it's no problem," he says.@@@@1@22@@oe@2-2-2013
20214070@unknown@formal@none@1@S@And expect slower fastballs.@@@@1@4@@oe@2-2-2013
20214071@unknown@formal@none@1@S@"I'm not so young anymore," concedes the cigar-chomping, 48-year-old Mr. Tiant.@@@@1@11@@oe@2-2-2013
20214072@unknown@formal@none@1@S@"I won't be throwing 90 mph, but I will throw 80-plus," he says.@@@@1@13@@oe@2-2-2013
20214073@unknown@formal@none@1@S@White-haired Pedro Ramos, at 54 the league's oldest player and a pitcher-coach with the Suns, has lost even more speed.@@@@1@20@@oe@2-2-2013
20214074@unknown@formal@none@1@S@Stuffing a wad of Red Man into his cheek, he admits the fastball he brought into the majors in 1955 has become a slowball.@@@@1@24@@oe@2-2-2013
20214075@unknown@formal@none@1@S@Its maximum velocity is 72 mph.@@@@1@6@@oe@2-2-2013
20214076@unknown@formal@none@1@S@But he isn't worried.@@@@1@4@@oe@2-2-2013
20214077@unknown@formal@none@1@S@He will compensate with the guile learned from his years in the majors.@@@@1@13@@oe@2-2-2013
20214078@unknown@formal@none@1@S@He has good control.@@@@1@4@@oe@2-2-2013
20214079@unknown@formal@none@1@S@He will keep the ball down, move it around.@@@@1@9@@oe@2-2-2013
20214080@unknown@formal@none@1@S@After all, he says, "Even to make love, you need experience.@@@@1@11@@oe@2-2-2013
20215001@unknown@formal@none@1@S@Alltel Corp. said it will acquire the 55% of Pond Branch Telephone Company Inc.'s cellular franchise that it doesn't own already.@@@@1@21@@oe@2-2-2013
20215002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20215003@unknown@formal@none@1@S@Alltel holds 45% of the franchise, which has operations in Aiken, S.C., and Augusta, Ga.@@@@1@15@@oe@2-2-2013
20215004@unknown@formal@none@1@S@Alltel, which provides local telephone service in 25 states, said it exercised its right of first refusal following an offer from an undisclosed third party to acquire the majority position in the franchise.@@@@1@33@@oe@2-2-2013
20216001@unknown@formal@none@1@S@Stewart & Stevenson Services Inc. said it received two contracts totaling $19 million to build gas-turbine generators.@@@@1@17@@oe@2-2-2013
20216002@unknown@formal@none@1@S@The separate contracts were from Paragould Light & Water Commission, a utility in Paragould, Ark., and PSE Inc., a cogeneration-plant operator in Houston.@@@@1@23@@oe@2-2-2013
20216003@unknown@formal@none@1@S@Stewart & Stevenson makes equipment powered with diesel and gas turbines.@@@@1@11@@oe@2-2-2013
20217001@unknown@formal@none@1@S@Liberty National Bancorp said its acquisition of Florence Deposit Bank, Florence, Ky., first announced in April, has been completed in a transaction valued at $13.1 million.@@@@1@26@@oe@2-2-2013
20217002@unknown@formal@none@1@S@Liberty National exchanged about 78.64 shares of its common stock for each of Florence Deposit's 5,600 shares outstanding.@@@@1@18@@oe@2-2-2013
20217003@unknown@formal@none@1@S@Liberty National, a bank holding company, has assets exceeding $3 billion.@@@@1@11@@oe@2-2-2013
20218001@unknown@formal@none@1@S@Hani Zayadi was appointed president and chief executive officer of this financially troubled department store chain, effective Nov. 15, succeeding Frank Robertson, who is retiring early.@@@@1@26@@oe@2-2-2013
20218002@unknown@formal@none@1@S@Mr. Zayadi was previously president and chief operating officer of Zellers Inc., a retail chain that is owned by Toronto-based Hudson's Bay Co., Canada's largest department store operator.@@@@1@28@@oe@2-2-2013
20219001@unknown@formal@none@1@S@Tuesday, October 31, 1989@@@@1@4@@oe@2-2-2013
20219002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
20219003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
20219004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
20219005@unknown@formal@none@1@S@FEDERAL FUNDS: 9% high, 8 13/16% low, 8 7/8% near closing bid, 8 15/16% offered.@@@@1@15@@oe@2-2-2013
20219006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
20219007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
20219008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
20219009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
20219010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
20219011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
20219012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.55% 30 to 44 days; 8.25% 45 to 59 days; 8.40% 60 to 89 days; 8% 90 to 119 days; 7.90% 120 to 149 days; 7.80% 150 to 179 days; 7.55% 180 to 270 days.@@@@1@44@@oe@2-2-2013
20219013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.62% 30 days; 8.55% 60 days; 8.45% 90 days.@@@@1@24@@oe@2-2-2013
20219014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.09% one month; 8.04% two months; 8.03% three months; 7.96% six months; 7.92% one year.@@@@1@18@@oe@2-2-2013
20219015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
20219016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
20219017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.53% one month; 8.50% three months; 8.30% six months.@@@@1@15@@oe@2-2-2013
20219018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.49% 30 days; 8.44% 60 days; 8.27% 90 days; 8.12% 120 days; 8.05% 150 days; 7.98% 180 days.@@@@1@20@@oe@2-2-2013
20219019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
20219020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 3/4% to 8 5/8% one month; 8 3/4% to 8 5/8% two months; 8 11/16% to 8 9/16% three months; 8 9/16% to 8 7/16% four months; 8 1/2% to 8 3/8% five months; 8 7/16% to 8 5/16% six months.@@@@1@45@@oe@2-2-2013
20219021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 3/4% one month; 8 11/16% three months; 8 7/16% six months; 8 7/16% one year.@@@@1@21@@oe@2-2-2013
20219022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
20219023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 9%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
20219024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
20219025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 30, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.78% 13 weeks; 7.62% 26 weeks.@@@@1@35@@oe@2-2-2013
20219026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac): Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@18@@oe@2-2-2013
20219027@unknown@formal@none@1@S@9.78%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
20219028@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
20219029@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae): Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par) 9.75%, standard conventional fixed-rate mortgages; 8.75%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@34@@oe@2-2-2013
20219030@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
20219031@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.63%.@@@@1@6@@oe@2-2-2013
20219032@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
20220001@unknown@formal@none@1@S@Canada's gross domestic product rose an inflation-adjusted 0.3% in August, mainly as a result of service-industry growth, Statistics Canada, a federal agency, said.@@@@1@23@@oe@2-2-2013
20220002@unknown@formal@none@1@S@The August GDP was up 2.4% from its year-earlier level.@@@@1@10@@oe@2-2-2013
20220003@unknown@formal@none@1@S@GDP is the total value of a nation's output of goods and services.@@@@1@13@@oe@2-2-2013
20220004@unknown@formal@none@1@S@Statistics Canada said service-industry output in August rose 0.4% from July.@@@@1@11@@oe@2-2-2013
20220005@unknown@formal@none@1@S@Output of goods-producing industries increased 0.1%.@@@@1@6@@oe@2-2-2013
20220006@unknown@formal@none@1@S@Separately, Statistics Canada reported that its industrial-product price index dropped 0.2% in September, its third consecutive monthly decline.@@@@1@18@@oe@2-2-2013
20220007@unknown@formal@none@1@S@It also reported a 2.6% decline in its raw-materials price index for September.@@@@1@13@@oe@2-2-2013
20221001@unknown@formal@none@1@S@Columbia Pictures Entertainment Inc. was dropped, effective today, from the recreational products and services industry group of the Dow Jones Equity Market Index.@@@@1@23@@oe@2-2-2013
20221002@unknown@formal@none@1@S@Columbia Pictures is being acquired by Sony Corp., which is based in Japan.@@@@1@13@@oe@2-2-2013
20222001@unknown@formal@none@1@S@People's Savings Financial Corp. said it will buy back as much as 10% of its 2.4 million shares outstanding because the stock is undervalued.@@@@1@24@@oe@2-2-2013
20222002@unknown@formal@none@1@S@The holding company said it has been "unfairly associated" with other banks in New England that have had major loan losses in recent quarters.@@@@1@24@@oe@2-2-2013
20222003@unknown@formal@none@1@S@The company said its People's Savings Bank unit doesn't have a "large exposure to construction and commercial loans that have caused the loan-loss problems in many of the banks.@@@@1@29@@oe@2-2-2013
20223001@unknown@formal@none@1@S@A seat on the Chicago Mercantile Exchange was sold for $410,000, down $6,000 from the previous sale Oct.@@@@1@18@@oe@2-2-2013
20223002@unknown@formal@none@1@S@Seats currently are quoted at $400,000 bid, $425,000 asked.@@@@1@9@@oe@2-2-2013
20223003@unknown@formal@none@1@S@The record price for a full membership on the exchange is $550,000, set March 9.@@@@1@15@@oe@2-2-2013
20224001@unknown@formal@none@1@S@In a surprise move, the British government cleared the way for a bidding war for Jaguar PLC by agreeing to remove an obstacle to a takeover of the auto maker.@@@@1@30@@oe@2-2-2013
20224002@unknown@formal@none@1@S@Trade and Industry Secretary Nicholas Ridley told the House of Commons yesterday that he will relinquish the government's so-called golden share in the company as long as Jaguar shareholders agree.@@@@1@30@@oe@2-2-2013
20224003@unknown@formal@none@1@S@The golden share restricts any individual holding to 15% and expires at the end of 1990.@@@@1@16@@oe@2-2-2013
20224004@unknown@formal@none@1@S@It was in Jaguar's best interests "for the company's future to be assured and the present climate of uncertainty resolved as quickly as possible," Mr. Ridley said.@@@@1@27@@oe@2-2-2013
20224005@unknown@formal@none@1@S@Mr. Ridley's decision fires the starting pistol for perhaps a costly contest between the world's auto giants for Britain's leading luxury-car maker.@@@@1@22@@oe@2-2-2013
20224006@unknown@formal@none@1@S@Both General Motors Corp. and Ford Motor Co. have been trying to amass 15% stakes in Jaguar.@@@@1@17@@oe@2-2-2013
20224007@unknown@formal@none@1@S@Ford, which already has an unwelcome 13.2% holding, is prepared to bid for the entire company and had lobbied the government to lift the takeover restrictions early.@@@@1@27@@oe@2-2-2013
20224008@unknown@formal@none@1@S@GM has been negotiating a friendly transaction with Jaguar that likely would involve joint ventures and an eventual stake of just under 30%.@@@@1@23@@oe@2-2-2013
20224009@unknown@formal@none@1@S@But the government's action, which caught Jaguar management flat-footed, may scuttle the GM minority deal by forcing it to fight for all of Jaguar.@@@@1@24@@oe@2-2-2013
20224010@unknown@formal@none@1@S@"I can't believe they (GM) will let Ford have a free run," said Stephen Reitman, a European auto industry analyst at UBS-Phillips & Drew.@@@@1@24@@oe@2-2-2013
20224011@unknown@formal@none@1@S@"I am sure they will be going for a full bid."@@@@1@11@@oe@2-2-2013
20224012@unknown@formal@none@1@S@Many investors certainly believe a bidding war is imminent.@@@@1@9@@oe@2-2-2013
20224013@unknown@formal@none@1@S@Jaguar shares skyrocketed yesterday after Mr. Ridley's announcement, following their temporary suspension on London's Stock Exchange.@@@@1@16@@oe@2-2-2013
20224014@unknown@formal@none@1@S@In late trading, the shares were up a whopping 122 pence ($1.93) -- a 16.3% gain -- to a record 869 pence on very heavy volume of 9.7 million shares.@@@@1@30@@oe@2-2-2013
20224015@unknown@formal@none@1@S@In the U.S. over-the-counter market, Jaguar shares trading as American Depositary Receipts closed at $13.625, up $1.75.@@@@1@17@@oe@2-2-2013
20224016@unknown@formal@none@1@S@Analysts expect Ford will make the first move, perhaps today, with an initial offer of about 900 pence ($14.25) a share.@@@@1@21@@oe@2-2-2013
20224017@unknown@formal@none@1@S@Such a proposal values Jaguar at more than #1.6 billion ($2.53 billion).@@@@1@12@@oe@2-2-2013
20224018@unknown@formal@none@1@S@Speculation about a takeover fight has sent Jaguar shares soaring in the past six weeks.@@@@1@15@@oe@2-2-2013
20224019@unknown@formal@none@1@S@The share price was languishing at about 400 pence before Ford's Sept. 19 announcement of its interest in a minority stake.@@@@1@21@@oe@2-2-2013
20224020@unknown@formal@none@1@S@Ford is "in the driving seat at the moment," observed Bob Barber, an auto analyst at brokers James Capel & Co.@@@@1@21@@oe@2-2-2013
20224021@unknown@formal@none@1@S@An aggressive Ford bid for Jaguar would put pressure on GM to make a better offer as the British company's "white knight."@@@@1@22@@oe@2-2-2013
20224022@unknown@formal@none@1@S@Such a countermove could end Jaguar's hopes for remaining independent and British-owned.@@@@1@12@@oe@2-2-2013
20224023@unknown@formal@none@1@S@But it isn't clear how long GM would be willing to fight Ford for Jaguar.@@@@1@15@@oe@2-2-2013
20224024@unknown@formal@none@1@S@Because of their longstanding rivalry, GM just "wants to make sure Ford pays a huge packet for (Jaguar)," said John Lawson, an auto analyst at London's Nomura Research Institute.@@@@1@29@@oe@2-2-2013
20224025@unknown@formal@none@1@S@People close to the GM-Jaguar talks agreed that Ford now may be able to shut out General Motors.@@@@1@18@@oe@2-2-2013
20224026@unknown@formal@none@1@S@"It's either going to be a shootout, or there only may be one player in town," one person said.@@@@1@19@@oe@2-2-2013
20224027@unknown@formal@none@1@S@Another person close to the talks said, "It is very hard to justify paying a silly price for Jaguar if an out-and-out bidding war were to start now."@@@@1@28@@oe@2-2-2013
20224028@unknown@formal@none@1@S@In a statement, Jaguar's board said they "were not consulted about the (Ridley decision) in advance and were surprised at the action taken."@@@@1@23@@oe@2-2-2013
20224029@unknown@formal@none@1@S@The statement emphasized that holders representing 75% of the shares voting at a special shareholders' meeting must agree to lift the takeover restrictions.@@@@1@23@@oe@2-2-2013
20224030@unknown@formal@none@1@S@Jaguar officials in the U.S. noted that Ford, as Jaguar's largest shareholder, now has the power to call for such a meeting.@@@@1@22@@oe@2-2-2013
20224031@unknown@formal@none@1@S@U.S. auto analysts also noted that Ford is in the best position to benefit from the large number of Jaguar shares that have moved over the past month into the hands of arbitragers waiting for the highest takeover bid.@@@@1@39@@oe@2-2-2013
20224032@unknown@formal@none@1@S@Jaguar's own defenses against a hostile bid are weakened, analysts add, because fewer than 3% of its shares are owned by employees and management.@@@@1@24@@oe@2-2-2013
20224033@unknown@formal@none@1@S@Ford officials in the U.S. declined to comment on the British government's action or on any plans to call a special Jaguar shareholders meeting.@@@@1@24@@oe@2-2-2013
20224034@unknown@formal@none@1@S@But GM officials said they, too, were surprised by the move, which left them to "consider all our options and explore matters further."@@@@1@23@@oe@2-2-2013
20224035@unknown@formal@none@1@S@Although GM has U.S. approval to buy up to 15% of Jaguar's stock, it hasn't yet disclosed how many shares it now owns.@@@@1@23@@oe@2-2-2013
20224036@unknown@formal@none@1@S@In a prepared statement, GM suggested its plans for Jaguar would be more valuable in the long run than the initial windfalls investors might reap from a hostile Ford bid.@@@@1@30@@oe@2-2-2013
20224037@unknown@formal@none@1@S@"Our intensive discussions with Jaguar, at their invitation," GM said, "have as their objectives to create a cooperative business relationship with Jaguar that would provide for the continued independence of this great British car company, to ensure a secure future for its employees and to provide an attractive long-term return for its shareholders."@@@@1@53@@oe@2-2-2013
20224038@unknown@formal@none@1@S@Jaguar was shocked by Mr. Ridley's decision, because management had believed the government wouldn't lift the golden share without consulting the company first.@@@@1@23@@oe@2-2-2013
20224039@unknown@formal@none@1@S@Indeed, the government is taking a calculated risk.@@@@1@8@@oe@2-2-2013
20224040@unknown@formal@none@1@S@Mr. Ridley's announcement set off a howl of protests from members of the opposition Labor Party, who accused the Thatcher administration of backing down on promised protection for a privatized company.@@@@1@31@@oe@2-2-2013
20224041@unknown@formal@none@1@S@The British government retained the single golden share after selling its stake in Jaguar in@@@@1@15@@oe@2-2-2013
20224042@unknown@formal@none@1@S@The Conservative government's decision may reflect its desire to shed a politically sensitive issue well before the next election, expected in late 1991.@@@@1@23@@oe@2-2-2013
20224043@unknown@formal@none@1@S@"It's now a very good time politically to get this over and done with," observed Daniel Jones, professor of motor industry management at the University of Cardiff in Wales.@@@@1@29@@oe@2-2-2013
20224044@unknown@formal@none@1@S@The government, already buffeted by high interest rates and a slowing economy, has been badly hurt by last week's shake-up in Mrs. Thatcher's cabinet.@@@@1@24@@oe@2-2-2013
20224045@unknown@formal@none@1@S@At the same time, the government didn't want to appear to favor GM by allowing a minority stake that might preclude a full bid by Ford.@@@@1@26@@oe@2-2-2013
20224046@unknown@formal@none@1@S@Mr. Ridley hinted at this motive in answering questions from members of Parliament after his announcement.@@@@1@16@@oe@2-2-2013
20224047@unknown@formal@none@1@S@He said he was giving up the golden share "to clear the way so the playing field is level between all contestants."@@@@1@22@@oe@2-2-2013
20224048@unknown@formal@none@1@S@Bradley A. Stertz in Detroit contributed to this article.@@@@1@9@@oe@2-2-2013
20225001@unknown@formal@none@1@S@Dow Chemical Co., Midland, Mich., and Eli Lilly & Co., Indianapolis, said they completed the formation of Dow Elanco, a joint venture combining their plant-sciences businesses as well as Dow's industrial pest-control business.@@@@1@33@@oe@2-2-2013
20225002@unknown@formal@none@1@S@The companies said Dow Elanco will be the largest research-based agricultural concern in North America, with projected first-year revenue of $1.5 billion.@@@@1@22@@oe@2-2-2013
20225003@unknown@formal@none@1@S@Dow will own 60% of the venture, with Eli Lilly holding the rest.@@@@1@13@@oe@2-2-2013
20225004@unknown@formal@none@1@S@The venture will be based in Indianapolis.@@@@1@7@@oe@2-2-2013
20226001@unknown@formal@none@1@S@William A. Wise, 44 years old, president of the El Paso Natural Gas Co. unit of this energy and natural-resources concern, was named to the additional post of chief executive officer, succeeding Travis H. Petty, 61, who continues as a vice chairman of the parent.@@@@1@45@@oe@2-2-2013
20227001@unknown@formal@none@1@S@Erwin Tomash, the 67-year-old founder of this maker of data communications products and a former chairman and chief executive, resigned as a director.@@@@1@23@@oe@2-2-2013
20227002@unknown@formal@none@1@S@Dataproducts is fighting a hostile tender offer by DPC Acquisition Partners, a group led by New York-based Crescott Investments Associates.@@@@1@20@@oe@2-2-2013
20227003@unknown@formal@none@1@S@Under the circumstances, Dataproducts said, Mr. Tomash said he was unable to devote the time required because of other commitments.@@@@1@20@@oe@2-2-2013
20227004@unknown@formal@none@1@S@Mr. Tomash will remain as a director emeritus.@@@@1@8@@oe@2-2-2013
20227005@unknown@formal@none@1@S@The company had no comment on whether a replacement would be named.@@@@1@12@@oe@2-2-2013
20228001@unknown@formal@none@1@S@Robert Q. Marston, president emeritus, University of Florida, and a director of this maker of medical devices, was named chairman.@@@@1@20@@oe@2-2-2013
20228002@unknown@formal@none@1@S@Dr. Marston, 66 years old, succeeds Alexander T. Daignault, 72, who didn't stand for re-election due to mandatory board retirement policy.@@@@1@21@@oe@2-2-2013
20229001@unknown@formal@none@1@S@SFE Technologies said William P. Kuehn was elected chairman and chief executive officer of this troubled electronics parts maker.@@@@1@19@@oe@2-2-2013
20229002@unknown@formal@none@1@S@The 45-year-old Mr. Kuehn, who has a background in crisis management, succeeds Alan D. Rubendall, 45.@@@@1@16@@oe@2-2-2013
20229003@unknown@formal@none@1@S@Jerome J. Jahn, executive vice president and chief financial officer, said Mr. Rubendall was resigning by "mutual agreement" with the board.@@@@1@21@@oe@2-2-2013
20229004@unknown@formal@none@1@S@"He is going to pursue other interests," Mr. Jahn said.@@@@1@10@@oe@2-2-2013
20229005@unknown@formal@none@1@S@Mr. Rubendall couldn't be reached.@@@@1@5@@oe@2-2-2013
20229006@unknown@formal@none@1@S@Mr. Kuehn, the company said, will retain the rest of the current management team.@@@@1@14@@oe@2-2-2013
20229007@unknown@formal@none@1@S@For the nine months ended July 29, SFE Technologies reported a net loss of $889,000 on sales of $23.4 million.@@@@1@20@@oe@2-2-2013
20229008@unknown@formal@none@1@S@That compared with an operating loss of $1.9 million on sales of $27.4 million in the year-earlier period.@@@@1@18@@oe@2-2-2013
20229009@unknown@formal@none@1@S@In national over-the-counter trading, SFE Technologies shares closed yesterday at 31.25 cents a share, up 6.25 cents.@@@@1@17@@oe@2-2-2013
20230001@unknown@formal@none@1@S@Sales of new cars in Europe fell 4.2% in September from a year earlier and analysts say the market could continue to soften in the months ahead.@@@@1@27@@oe@2-2-2013
20230002@unknown@formal@none@1@S@After a stronger-than-expected pace early this year, analysts say the market, after a series of sharp swings in recent months, now shows signs of retreating.@@@@1@25@@oe@2-2-2013
20230003@unknown@formal@none@1@S@Statistics from 12 countries which normally account for 94% of non-communist Europe's passenger car sales showed new car registrations totaled 911,606 in September, down 21% from August and down 4.2% for the year to date.@@@@1@35@@oe@2-2-2013
20231001@unknown@formal@none@1@S@Tokyo stocks rebounded Tuesday from two consecutive daily losses in relatively active dealings.@@@@1@13@@oe@2-2-2013
20231002@unknown@formal@none@1@S@London shares also rose, while trading in Frankfurt, West Germany, ended higher.@@@@1@12@@oe@2-2-2013
20231003@unknown@formal@none@1@S@In Tokyo, the Nikkei index of 225 selected issues was up 132.00 points to 35549.44.@@@@1@15@@oe@2-2-2013
20231004@unknown@formal@none@1@S@The index fell 109.85 Monday.@@@@1@5@@oe@2-2-2013
20231005@unknown@formal@none@1@S@Volume on the First Section was estimated at 900 million shares, up from 582 million shares Monday.@@@@1@17@@oe@2-2-2013
20231006@unknown@formal@none@1@S@Advancing issues outnumbered decliners 542 to 362, while 208 issues were unchanged.@@@@1@12@@oe@2-2-2013
20231007@unknown@formal@none@1@S@Small-lot buying targeted at incentive-backed issues pushed up the Nikkei.@@@@1@10@@oe@2-2-2013
20231008@unknown@formal@none@1@S@But other sectors failed to attract investor interest and remained sluggish, making overall trading appear mixed.@@@@1@16@@oe@2-2-2013
20231009@unknown@formal@none@1@S@Individuals and corporations, as well as dealers trading for their own account, actively bought Tuesday.@@@@1@15@@oe@2-2-2013
20231010@unknown@formal@none@1@S@An official at Wako Securities said these investors feel the need to make quick profits, despite destabilizing external factors, such as political uncertainty tied to the ruling party's fate at next year's Lower House elections-an event which could directly affect the stock market.@@@@1@43@@oe@2-2-2013
20231011@unknown@formal@none@1@S@The Tokyo Stock Price Index of all issues listed in the First Section, which declined 5.16 on Monday, was up 16.05, or 0.60%, at 2692.65 on Tuesday.@@@@1@27@@oe@2-2-2013
20231012@unknown@formal@none@1@S@The Second Section index, which fell 21.44 points Monday, was up 6.84 points, or 0.19%, to close at 3642.90.@@@@1@19@@oe@2-2-2013
20231013@unknown@formal@none@1@S@Second Section volume was estimated at 14 million shares, unchanged from Monday.@@@@1@12@@oe@2-2-2013
20231014@unknown@formal@none@1@S@Institutional investors mostly remained on the sidelines Tuesday.@@@@1@8@@oe@2-2-2013
20231015@unknown@formal@none@1@S@A fund manager at a life-insurance company said three factors make it difficult to read market direction.@@@@1@17@@oe@2-2-2013
20231016@unknown@formal@none@1@S@First, he said, domestic interest rates are likely to stay at higher levels as increased anticipation of inflation followed rising consumer prices reported last week.@@@@1@25@@oe@2-2-2013
20231017@unknown@formal@none@1@S@Second, the dollar is showing persistent strength despite a slowdown in the U.S. economy shown by economic indicators.@@@@1@18@@oe@2-2-2013
20231018@unknown@formal@none@1@S@Third, oil prices haven't declined although supply has been increasing.@@@@1@10@@oe@2-2-2013
20231019@unknown@formal@none@1@S@The topic that attracted participants' attention was Mitsubishi Estate's purchase of 51% of Rockefeller Center Properties, announced late Monday in New York.@@@@1@22@@oe@2-2-2013
20231020@unknown@formal@none@1@S@Mitsubishi Estate ended the day at 2680, up 150.@@@@1@9@@oe@2-2-2013
20231021@unknown@formal@none@1@S@The gains also sparked buying interest in other real-estate companies, traders said.@@@@1@12@@oe@2-2-2013
20231022@unknown@formal@none@1@S@Sumitomo Realty & Development rose 40 to 2170.@@@@1@8@@oe@2-2-2013
20231023@unknown@formal@none@1@S@Heiwa Real Estate gained 40 to 2210.@@@@1@7@@oe@2-2-2013
20231024@unknown@formal@none@1@S@Investor focus shifted quickly, traders said.@@@@1@6@@oe@2-2-2013
20231025@unknown@formal@none@1@S@Many of the morning-session winners turned out to be losers by afternoon.@@@@1@12@@oe@2-2-2013
20231026@unknown@formal@none@1@S@In other stock-market news, the Tokyo Stock Exchange said that for the week ended Friday, the balance of margin buying rose 189.8 billion yen ($1.34 billion), to 7.160 trillion yen ($50.46 billion).@@@@1@32@@oe@2-2-2013
20231027@unknown@formal@none@1@S@The balance of short positions outstanding fell 159.7 billion yen, to 779.8 billion yen.@@@@1@14@@oe@2-2-2013
20231028@unknown@formal@none@1@S@In London, prices finished at intraday peaks, comforted by a reassuring early performance on Wall Street and news that the British government will waive its "golden share" in auto maker Jaguar.@@@@1@31@@oe@2-2-2013
20231029@unknown@formal@none@1@S@But trading was very sketchy, as investment decision makers remain wary from gyrations and upsets of recent weeks.@@@@1@18@@oe@2-2-2013
20231030@unknown@formal@none@1@S@"Volume has been appalling," said a dealer at a British brokerage concern.@@@@1@12@@oe@2-2-2013
20231031@unknown@formal@none@1@S@"The market was dragged up by the scruff of its neck by Wall Street and by market makers getting caught short.@@@@1@21@@oe@2-2-2013
20231032@unknown@formal@none@1@S@No one wants stock on their books."@@@@1@7@@oe@2-2-2013
20231033@unknown@formal@none@1@S@Meanwhile, the broad-based Financial Times 100-share index added 30.4 points to end at 2142.6, while reaching its minimum of 2120.5 a half hour into the session.@@@@1@26@@oe@2-2-2013
20231034@unknown@formal@none@1@S@At the close, the narrower 30-share index was up 19.7 points to 1721.4.@@@@1@13@@oe@2-2-2013
20231035@unknown@formal@none@1@S@Volume totaled a modest 334.5 million shares, up from 257.8 million shares Monday.@@@@1@13@@oe@2-2-2013
20231036@unknown@formal@none@1@S@The market also moved at early afternoon on news that Jaguar shares were being temporarily suspended at 746 pence ($11.80) each.@@@@1@21@@oe@2-2-2013
20231037@unknown@formal@none@1@S@Secretary of State for Trade and Industry Nicholas Ridley said later in the day that the government would abolish its golden share in Jaguar, the luxury auto maker being stalked by General Motors and Ford Motor.@@@@1@36@@oe@2-2-2013
20231038@unknown@formal@none@1@S@The golden share dates from Jaguar's public offering in 1984 and was designed to protect the company from takeover.@@@@1@19@@oe@2-2-2013
20231039@unknown@formal@none@1@S@The golden share was scheduled to expire at the beginning of@@@@1@11@@oe@2-2-2013
20231040@unknown@formal@none@1@S@But although the golden share has been waived, a hostile bidder for Jaguar would still have to alter the British concern's articles of association which ban shareholdings of more than 15%.@@@@1@31@@oe@2-2-2013
20231041@unknown@formal@none@1@S@Jaguar shares closed at 869 pence, up 122 pence, on hefty turnover of 9.7 million shares.@@@@1@16@@oe@2-2-2013
20231042@unknown@formal@none@1@S@As the London trading session drew to a close, the market was still listening to the parliamentary debate on the economy, with new Chancellor of the Exchequer John Major expected to clarify his approach to the British economy and currency issues.@@@@1@41@@oe@2-2-2013
20231043@unknown@formal@none@1@S@On the Frankfurt Stock Exchange, share prices closed higher in fairly thin trading, as selective buying by foreigners helped propel prices.@@@@1@21@@oe@2-2-2013
20231044@unknown@formal@none@1@S@The DAX index closed at 1472.76, up from 1466.29.@@@@1@9@@oe@2-2-2013
20231045@unknown@formal@none@1@S@Despite the modest gains, traders said the market remains dull, with investors remaining cautiously on the sidelines.@@@@1@17@@oe@2-2-2013
20231046@unknown@formal@none@1@S@Contributing to the market's reserved stance was the release later in the day of new data on the health of the U.S. economy, in the form of the U.S. index of leading indicators.@@@@1@33@@oe@2-2-2013
20231047@unknown@formal@none@1@S@Additionally, the end of the month position-squaring might have also played a minor role, traders said.@@@@1@16@@oe@2-2-2013
20231048@unknown@formal@none@1@S@Elsewhere, share prices closed higher in Amsterdam, Brussels, Milan and Paris.@@@@1@11@@oe@2-2-2013
20231049@unknown@formal@none@1@S@Prices were mixed in Zurich and lower in Stockholm.@@@@1@9@@oe@2-2-2013
20231050@unknown@formal@none@1@S@Stocks closed higher in Hong Kong, Manila, Singapore, Sydney and Wellington, but were lower in Seoul.@@@@1@16@@oe@2-2-2013
20231051@unknown@formal@none@1@S@Taipei was closed for a holiday.@@@@1@6@@oe@2-2-2013
20231052@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
20231053@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
20231054@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
20232001@unknown@formal@none@1@S@French consumer prices rose 0.2% in September from the previous month and were up 3.4% from a year earlier, according to definitive figures from the National Statistics Institute.@@@@1@28@@oe@2-2-2013
20232002@unknown@formal@none@1@S@The state agency's figures confirm previous estimates and leave the index at 178.9, up from 178.5 in August and 173.1 a year earlier.@@@@1@23@@oe@2-2-2013
20232003@unknown@formal@none@1@S@The index is based on 1980 equaling 100.@@@@1@8@@oe@2-2-2013
20232004@unknown@formal@none@1@S@A breakdown showed that food prices were the most active part of growth with a rise of 0.6%.@@@@1@18@@oe@2-2-2013
20232005@unknown@formal@none@1@S@An official linked the gain essentially to higher prices for beef and pork.@@@@1@13@@oe@2-2-2013
20232006@unknown@formal@none@1@S@He said summer drought problems that had hit several southern agricultural regions had stopped being a major source of price pressure in September.@@@@1@23@@oe@2-2-2013
20233001@unknown@formal@none@1@S@Japan's index of leading indicators rose to 63.6 in August, above the so-called boom-or-bust line of 50 for the first time since May, the Economic Planning Agency said.@@@@1@28@@oe@2-2-2013
20233002@unknown@formal@none@1@S@The leading index recovered from July's revised level of 36.6 on strong performances in consumer durables and machinery orders, among other factors, according to an agency spokeswoman.@@@@1@27@@oe@2-2-2013
20233003@unknown@formal@none@1@S@The index is intended to measure future economic performance.@@@@1@9@@oe@2-2-2013
20233004@unknown@formal@none@1@S@A figure above 50 indicates the economy is likely to expand; one below 50 indicates a contraction may be ahead.@@@@1@20@@oe@2-2-2013
20234001@unknown@formal@none@1@S@Metromedia Co. said its Metromedia Long Distance unit has been renamed Metromedia-ITT Long Distance, reflecting acquisitions from ITT Corp., which licenses its name to closely held Metromedia.@@@@1@27@@oe@2-2-2013
20234002@unknown@formal@none@1@S@Metromedia said its unit is the fifth-largest provider of long-distance communications service in the U.S., with projected 1989 revenue of more than $550 million.@@@@1@24@@oe@2-2-2013
20234003@unknown@formal@none@1@S@Metromedia, headed by John W. Kluge, has interests in telecommunications, robotic painting, computer software, restaurants and entertainment.@@@@1@17@@oe@2-2-2013
20235001@unknown@formal@none@1@S@South Korean consumer prices rose 5% in the first 10 months of this year, matching the government's target for the entire year, according to the Bank of Korea and the Economic Planning Board.@@@@1@33@@oe@2-2-2013
20235002@unknown@formal@none@1@S@According to reports released by the two government agencies, domestic consumer and wholesale prices each rose by 0.2% in October from the previous month.@@@@1@24@@oe@2-2-2013
20235003@unknown@formal@none@1@S@As a result, consumer prices for the first 10 months of 1989 surged by 5% and wholesale prices by 1.3%.@@@@1@20@@oe@2-2-2013
20235004@unknown@formal@none@1@S@The South Korean government had been projecting a 5% consumer price increase for the entire year.@@@@1@16@@oe@2-2-2013
20236001@unknown@formal@none@1@S@Martin Marietta Corp. said it won a $38.2 million contract from the U.S. Postal Service to manufacture and install automated mail-sorting machines.@@@@1@22@@oe@2-2-2013
20236002@unknown@formal@none@1@S@Under terms of the three-year contract, Martin Marietta said it will make and install 267 of the new machines at 156 postal offices.@@@@1@23@@oe@2-2-2013
20236003@unknown@formal@none@1@S@The new machines are capable of sorting by zip code up to 10,000 large flat mail pieces, including magazines and parcels, an hour.@@@@1@23@@oe@2-2-2013
20237001@unknown@formal@none@1@S@Thomas A. Donovan, 37 years old, formerly vice president, West Coast operations, at this hazardous-waste-site remediation concern, was named executive vice president and chief operating officer, both newly created posts, and a director, filling a vacancy.@@@@1@36@@oe@2-2-2013
20237002@unknown@formal@none@1@S@Canonie said it anticipates naming Mr. Donovan to succeed Richard F. Brissette, 55, as president and chief executive officer, effective March 1.@@@@1@22@@oe@2-2-2013
20237003@unknown@formal@none@1@S@Mr. Brissette will remain a Canonie board member and will be a consultant to the company.@@@@1@16@@oe@2-2-2013
20238001@unknown@formal@none@1@S@Yields on savings-type certificates of deposit dropped slightly in the week ended yesterday.@@@@1@13@@oe@2-2-2013
20238002@unknown@formal@none@1@S@The average yield on a six-month CD of $50,000 or less was 7.90%, compared with 7.94% a week earlier.@@@@1@19@@oe@2-2-2013
20238003@unknown@formal@none@1@S@The average one-year savings-type CD was down to 7.99% from 8.01%, according to Banxquote Money Markets, a New York information service that tracks CD yields.@@@@1@25@@oe@2-2-2013
20238004@unknown@formal@none@1@S@"This week was uneventful for the CD market," said Norberto Mehl, chairman of Banxquote.@@@@1@14@@oe@2-2-2013
20238005@unknown@formal@none@1@S@"The major banks haven't even reacted to sharp rises in the three-month Treasury bill rates" in the past two weeks.@@@@1@20@@oe@2-2-2013
20238006@unknown@formal@none@1@S@Banks that adjusted payouts on CDs in the most recent week made only fractional moves, he said.@@@@1@17@@oe@2-2-2013
20238007@unknown@formal@none@1@S@The CD trend runs counter to the direction of short-term interest rates at the Treasury bill auction Monday.@@@@1@18@@oe@2-2-2013
20238008@unknown@formal@none@1@S@The average six-month bill was sold with a yield of 8.04%, up from 7.90%.@@@@1@14@@oe@2-2-2013
20238009@unknown@formal@none@1@S@The average three-month issue rose to 8.05% from 7.77%.@@@@1@9@@oe@2-2-2013
20238010@unknown@formal@none@1@S@Typically, banks offer CD yields higher than those on Treasury bills, which are considered the safest short-term investments; banks need a competitive edge to sell their products.@@@@1@27@@oe@2-2-2013
20238011@unknown@formal@none@1@S@But when market interest rates move up rapidly, increases in bank CD yields sometimes lag.@@@@1@15@@oe@2-2-2013
20238012@unknown@formal@none@1@S@Most yields on short-term jumbo CDs, those with denominations over $90,000, also moved in the opposite direction of Treasury bill yields.@@@@1@21@@oe@2-2-2013
20238013@unknown@formal@none@1@S@The average six-month yield on a jumbo CD was at 7.90%, down from 7.93%, Banxquote said.@@@@1@16@@oe@2-2-2013
20238014@unknown@formal@none@1@S@For longer-term CDs, yields were up.@@@@1@6@@oe@2-2-2013
20238015@unknown@formal@none@1@S@The average two-year and five-year jumbos were up 0.02 of a percentage point to 7.91% and 7.96%, respectively.@@@@1@18@@oe@2-2-2013
20238016@unknown@formal@none@1@S@However, CDs sold through major broker-dealer networks were up slightly almost across the board.@@@@1@14@@oe@2-2-2013
20238017@unknown@formal@none@1@S@The average six-month CD in that category added 0.05 percentage point to 8.35%, for example.@@@@1@15@@oe@2-2-2013
20238018@unknown@formal@none@1@S@Mr. Mehl attributed the rise specifically to the Treasury bill increase.@@@@1@11@@oe@2-2-2013
20238019@unknown@formal@none@1@S@Among the major banks surveyed by Banxquote in six regions of the country, 8.33% is the highest yield available.@@@@1@19@@oe@2-2-2013
20238020@unknown@formal@none@1@S@It is offered by the flagship banks of New York's Manufacturers Hanover Corp. in the one-year maturity only.@@@@1@18@@oe@2-2-2013
20238021@unknown@formal@none@1@S@The yield is offered across a range of maturities at San Francisco's BankAmerica Corp. and Wells Fargo & Co.@@@@1@19@@oe@2-2-2013
20238022@unknown@formal@none@1@S@Just two weeks ago, BankAmerica's yields in many of those maturities was 8.61%.@@@@1@13@@oe@2-2-2013
20238023@unknown@formal@none@1@S@Still, on average, the major California banks have the highest yields on CDs, according to Banxquote.@@@@1@16@@oe@2-2-2013
20238024@unknown@formal@none@1@S@The average yield there on six-month issues is 8.32%.@@@@1@9@@oe@2-2-2013
20239001@unknown@formal@none@1@S@I had to reach back to French 101 when the monsieur avec clipboard leaned over my shoulder during the coffee phase of dinner and asked whether I wanted to ride in a montgolfiere.@@@@1@33@@oe@2-2-2013
20239002@unknown@formal@none@1@S@I was a last-minute (read interloping) attendee at a French journalism convention and so far the festivities had been taken up entirely by eating, drinking, smoking, sleeping and drinking.@@@@1@29@@oe@2-2-2013
20239003@unknown@formal@none@1@S@The man with the clipboard represented a halfhearted attempt to introduce a bit of les sportif into our itinerary.@@@@1@19@@oe@2-2-2013
20239004@unknown@formal@none@1@S@But as the French embody a Zen-like state of blase when it comes to athletics (try finding a Nautilus machine in Paris), my fellow conventioners were having none of it.@@@@1@30@@oe@2-2-2013
20239005@unknown@formal@none@1@S@The diners at my table simply lit more Gauloises and scoffed at the suggestion of interrupting a perfectly good Saturday morning to go golfing or even montgolfing (ballooning to you; the brothers Montgolfier, French of course, were the world's first hot-air balloonists).@@@@1@42@@oe@2-2-2013
20239006@unknown@formal@none@1@S@Back in the U.S.A. this kind of chi-chi airborne activity wins heartwarmingly covetous responses.@@@@1@14@@oe@2-2-2013
20239007@unknown@formal@none@1@S@As in: "You went ballooning??!!@@@@1@5@@oe@2-2-2013
20239008@unknown@formal@none@1@S@In France??!!"@@@@1@2@@oe@2-2-2013
20239009@unknown@formal@none@1@S@Americans it seems have followed Malcolm Forbes's hot-air lead and taken to ballooning in a heady way.@@@@1@17@@oe@2-2-2013
20239010@unknown@formal@none@1@S@During the past 25 years, the number of balloonists (those who have passed a Federal Aviation Authority lighter-than-air test) have swelled from a couple hundred to several thousand, with some estimates running as high as 10,000.@@@@1@36@@oe@2-2-2013
20239011@unknown@formal@none@1@S@Some 30 balloon shows are held annually in the U.S., including the world's largest convocation of ersatz Phineas Foggs -- the nine-day Albuquerque International Balloon Fiesta that attracts some 800,000 enthusiasts and more than 500 balloons, some of which are fetchingly shaped to resemble Carmen Miranda, Garfield or a 12-story-high condom.@@@@1@51@@oe@2-2-2013
20239012@unknown@formal@none@1@S@(The condom balloon was denied official entry status this year.)@@@@1@10@@oe@2-2-2013
20239013@unknown@formal@none@1@S@But in Epinal, a gray 16th-century river town adjacent to France's Vosges mountain region, none of these Yankee-come-lately enthusiasms for things aloft was evident.@@@@1@24@@oe@2-2-2013
20239014@unknown@formal@none@1@S@Ballooning at the de rigueur hour of 6 a.m. held all the attraction for most people of sunrise root-canal work.@@@@1@20@@oe@2-2-2013
20239015@unknown@formal@none@1@S@Feeling the naggings of a culture imperative, I promptly signed up.@@@@1@11@@oe@2-2-2013
20239016@unknown@formal@none@1@S@The first thing anybody will tell you about ballooning is that it requires zip in the way of athletic prowess, or even a measure of derring-do.@@@@1@26@@oe@2-2-2013
20239017@unknown@formal@none@1@S@(So long as you don't look down.)@@@@1@7@@oe@2-2-2013
20239018@unknown@formal@none@1@S@They will also tell you that even if you hate heights, you can still balloon.@@@@1@15@@oe@2-2-2013
20239019@unknown@formal@none@1@S@(I still say don't look down.@@@@1@6@@oe@2-2-2013
20239020@unknown@formal@none@1@S@At least not when you are ascending.)@@@@1@7@@oe@2-2-2013
20239021@unknown@formal@none@1@S@What they won't tell you is not to go aloft in anything you don't want to get wet.@@@@1@18@@oe@2-2-2013
20239022@unknown@formal@none@1@S@I'm not referring to the traditional champagne drenching during the back-on-terra-firma toast.@@@@1@12@@oe@2-2-2013
20239023@unknown@formal@none@1@S@I'm talking about landing in a canal.@@@@1@7@@oe@2-2-2013
20239024@unknown@formal@none@1@S@In a porous wicker basket.@@@@1@5@@oe@2-2-2013
20239025@unknown@formal@none@1@S@With a pilot who speaks no English.@@@@1@7@@oe@2-2-2013
20239026@unknown@formal@none@1@S@To wit, my maiden voyage (and novitiates are referred to as virgins) began at dawn on a dew-sodden fairway and ended at noon in a soggy field.@@@@1@27@@oe@2-2-2013
20239027@unknown@formal@none@1@S@(Balloon flights almost always occur at dawn or dusk, when the winds are lightest.)@@@@1@14@@oe@2-2-2013
20239028@unknown@formal@none@1@S@In between came lots of coffee drinking while watching the balloons inflate and lots of standing around deciding who would fly in what balloon and in what order (the baskets hold no more than four passengers).@@@@1@36@@oe@2-2-2013
20239029@unknown@formal@none@1@S@When it wasn't my turn in the balloon I followed its progress from the "chase car," listening to the driver holler into a walkie-talkie.@@@@1@24@@oe@2-2-2013
20239030@unknown@formal@none@1@S@After long stretches of this attendant ground activity came 20 or so lovely minutes of drifting above the Vosges watching the silver mists rise off the river and the French cows amble about the fields.@@@@1@35@@oe@2-2-2013
20239031@unknown@formal@none@1@S@It's hard not to feel that God's in his heaven with this kind of bird's-eye view of the world, even if your pilote in silly plaid beret kept pointing out how "belle" it all was.@@@@1@35@@oe@2-2-2013
20239032@unknown@formal@none@1@S@Eventually little French farmers and their little French farmwives came out of their stone houses and put their hands above their tiny eyes and squinted at us.@@@@1@27@@oe@2-2-2013
20239033@unknown@formal@none@1@S@No wonder.@@@@1@2@@oe@2-2-2013
20239034@unknown@formal@none@1@S@We were coming down straight into their canal.@@@@1@8@@oe@2-2-2013
20239035@unknown@formal@none@1@S@See, the other rule of thumb about ballooning is that you can't steer.@@@@1@13@@oe@2-2-2013
20239036@unknown@formal@none@1@S@And neither can your pilot.@@@@1@5@@oe@2-2-2013
20239037@unknown@formal@none@1@S@You can go only up or down (by heating the balloon's air with a propane burner, which does make the top of your head feel hot) and ride the air currents.@@@@1@31@@oe@2-2-2013
20239038@unknown@formal@none@1@S@Which makes the chase car necessary.@@@@1@6@@oe@2-2-2013
20239039@unknown@formal@none@1@S@Most balloonists seldom go higher than 2,000 feet and most average a leisurely 5-10 miles an hour.@@@@1@17@@oe@2-2-2013
20239040@unknown@formal@none@1@S@When the balloon is cruising along at a steady altitude there is little sense of motion.@@@@1@16@@oe@2-2-2013
20239041@unknown@formal@none@1@S@Only when one is ascending -- or in our case descending a tad trop rapidement -- does one feel, well, airborne in a picnic basket.@@@@1@25@@oe@2-2-2013
20239042@unknown@formal@none@1@S@"What's he doing?" hissed my companion, who was the only other English-speaking member of the convention and whose knuckles were white.@@@@1@21@@oe@2-2-2013
20239043@unknown@formal@none@1@S@"Attention," yelled our pilot as our basket plunged into the canal.@@@@1@11@@oe@2-2-2013
20239044@unknown@formal@none@1@S@"You bet attention," I yelled back, leaping atop the propane tanks, "I'm wearing alligator loafers!"@@@@1@15@@oe@2-2-2013
20239045@unknown@formal@none@1@S@Our pilot simply laughed, fired up the burner and with another blast of flame lifted us, oh, a good 12-inches above the water level.@@@@1@24@@oe@2-2-2013
20239046@unknown@formal@none@1@S@We scuttled along for a few feet before he plunged us into the drink again.@@@@1@15@@oe@2-2-2013
20239047@unknown@formal@none@1@S@Eventually we came to rest in a soggy patch of field where we had the exquisite pleasure of scrambling out of the basket into the mud while the French half of our ballooning tag team scrambled in.@@@@1@37@@oe@2-2-2013
20239048@unknown@formal@none@1@S@I looked at my watch.@@@@1@5@@oe@2-2-2013
20239049@unknown@formal@none@1@S@Barely half-an-hour aloft.@@@@1@3@@oe@2-2-2013
20239050@unknown@formal@none@1@S@Back in the chase car, we drove around some more, got stuck in a ditch, enlisted the aid of a local farmer to get out the trailer hitch and pull us out of the ditch.@@@@1@35@@oe@2-2-2013
20239051@unknown@formal@none@1@S@We finally rendezvoused with our balloon, which had come to rest on a dirt road amid a clutch of Epinalers who watched us disassemble our craft -- another half-an-hour of non-flight activity -- that included the precision routine of yanking the balloon to the ground, punching all the air out of it, rolling it up and cramming it and the basket into the trailer.@@@@1@64@@oe@2-2-2013
20239052@unknown@formal@none@1@S@It was the most exercise we'd had all morning and it was followed by our driving immediately to the nearest watering hole.@@@@1@22@@oe@2-2-2013
20239053@unknown@formal@none@1@S@This meant returning to the golf course, where we watched a few French duffers maul the first tee while we sat under Cinzano umbrellas, me nursing an espresso and my ego.@@@@1@31@@oe@2-2-2013
20239054@unknown@formal@none@1@S@A whole morning of ballooning and I had been off the ground barely 30 minutes.@@@@1@15@@oe@2-2-2013
20239055@unknown@formal@none@1@S@Still, I figured the event's envy-quotient back in the U.S.A. was near peerless.@@@@1@13@@oe@2-2-2013
20239056@unknown@formal@none@1@S@As for the ride back to camp, our pilot and all the other French-speaking passengers clambered into the chase car.@@@@1@20@@oe@2-2-2013
20239057@unknown@formal@none@1@S@My American companion and I were left to ride alfresco in the wicker basket.@@@@1@14@@oe@2-2-2013
20239058@unknown@formal@none@1@S@As we streaked by a blase gendarme, I couldn't resist rearing up on my soggy loafers and saluting.@@@@1@18@@oe@2-2-2013
20239059@unknown@formal@none@1@S@Ms. de Vries is a free-lance writer.@@@@1@7@@oe@2-2-2013
20240001@unknown@formal@none@1@S@Treasury Undersecretary David Mulford defended the Treasury's efforts this fall to drive down the value of the dollar, saying it helped minimize damage from the 190-point drop in the stock market Oct. 13.@@@@1@33@@oe@2-2-2013
20240002@unknown@formal@none@1@S@Testifying before a House subcommittee, Mr. Mulford said that if the Treasury hadn't intervened in foreign-exchange markets in September and early October to reduce the dollar's value, the plunge in the stock market might have provoked a steep fall in the currency that might have "unhinged financial markets."@@@@1@48@@oe@2-2-2013
20240003@unknown@formal@none@1@S@Mr. Mulford, responding to critics of intervention, also said intervention is "highly visible," is taken seriously by financial markets and works better than "was recognized some time ago."@@@@1@28@@oe@2-2-2013
20240004@unknown@formal@none@1@S@Differences between the Treasury and the Federal Reserve on the usefulness of intervention to help restrain the dollar resurfaced at the hearing.@@@@1@22@@oe@2-2-2013
20240005@unknown@formal@none@1@S@Fed Vice Chairman Manuel Johnson, who had dissented from the Treasury's policy, told lawmakers, "I became convinced about what looked to me like an attempt to push the dollar down against the fundamentals in the market."@@@@1@36@@oe@2-2-2013
20240006@unknown@formal@none@1@S@Intervention, he added, is useful only to smooth disorderly markets, not to fundamentally influence the dollar's value.@@@@1@17@@oe@2-2-2013
20240007@unknown@formal@none@1@S@Rep. John LaFalce (D., N.Y.) said Mr. Johnson refused to testify jointly with Mr. Mulford and instead asked to appear after the Treasury official had completed his testimony.@@@@1@28@@oe@2-2-2013
20240008@unknown@formal@none@1@S@A Fed spokesman denied Mr. LaFalce's statement.@@@@1@7@@oe@2-2-2013
20240009@unknown@formal@none@1@S@Mr. Mulford said reports of tension between the Treasury and Fed have been exaggerated, insisting that they involved "nuances."@@@@1@19@@oe@2-2-2013
20240010@unknown@formal@none@1@S@Mr. Johnson also said that "in the scheme of things, these things are minor."@@@@1@14@@oe@2-2-2013
20240011@unknown@formal@none@1@S@On other matters, Mr. Mulford said West Germany is contributing to imbalances in the world economy because of its success as an exporter.@@@@1@23@@oe@2-2-2013
20240012@unknown@formal@none@1@S@"The solution is stronger domestic growth {in Germany}," he said.@@@@1@10@@oe@2-2-2013
20240013@unknown@formal@none@1@S@But because the growth of the German economy has been stronger than expected, Mr. Mulford said, it's difficult for the U.S. to argue that Germany ought to adopt more stimulative monetary and fiscal policies.@@@@1@34@@oe@2-2-2013
20240014@unknown@formal@none@1@S@Germany's trade surplus is largely with other European countries rather than with the U.S., Mr. Mulford acknowledged.@@@@1@17@@oe@2-2-2013
20240015@unknown@formal@none@1@S@But nonetheless U.S. companies might be more successful in European markets if not for the German export push, he said.@@@@1@20@@oe@2-2-2013
20241001@unknown@formal@none@1@S@Five officials of this investment banking firm were elected directors: E. Garrett Bewkes III, a 38-year-old managing director in the mergers and acquisitions department; Michael R. Dabney, 44, a managing director who directs the principal activities group which provides funding for leveraged acquisitions; Richard Harriton, 53, a general partner who heads the correspondent clearing services; Michael Minikes, 46, a general partner who is treasurer; and William J. Montgoris, 42, a general partner who is also senior vice president of finance and chief financial officer.@@@@1@84@@oe@2-2-2013
20241002@unknown@formal@none@1@S@The board increased by one to 26 members.@@@@1@8@@oe@2-2-2013
20241003@unknown@formal@none@1@S@In the past year, one inside director resigned, while three others retired.@@@@1@12@@oe@2-2-2013
20242001@unknown@formal@none@1@S@Some U.S. allies are complaining that President Bush is pushing conventional-arms talks too quickly, creating a risk that negotiators will make errors that could affect the security of Western Europe for years.@@@@1@32@@oe@2-2-2013
20242002@unknown@formal@none@1@S@Concerns about the pace of the Vienna talks -- which are aimed at the destruction of some 100,000 weapons, as well as major reductions and realignments of troops in central Europe -- also are being registered at the Pentagon.@@@@1@39@@oe@2-2-2013
20242003@unknown@formal@none@1@S@Mr. Bush has called for an agreement by next September at the latest.@@@@1@13@@oe@2-2-2013
20242004@unknown@formal@none@1@S@But some American defense officials believe the North Atlantic Treaty Organization should take more time to examine the long-term implications of the options being considered.@@@@1@25@@oe@2-2-2013
20242005@unknown@formal@none@1@S@For one thing, Pentagon officials, who asked not to be identified, worry that the U.S. will have a much tougher time persuading Europeans to keep some short-range nuclear weapons on their soil once Soviet armored forces are thinned out.@@@@1@39@@oe@2-2-2013
20242006@unknown@formal@none@1@S@At the same time, they contend that a reduction of NATO forces under a treaty will increase the possibility of a conventional Soviet attack unless the West retains a residual force of nuclear weapons in Europe.@@@@1@36@@oe@2-2-2013
20242007@unknown@formal@none@1@S@Allies concerned about the deadline include the British, French and smaller NATO allies, some of whom don't have adequate staffs to provide quick answers to the questions being raised by what generally are considered the most complex arms-control talks ever attempted.@@@@1@41@@oe@2-2-2013
20242008@unknown@formal@none@1@S@So far, no ally has complained openly, preserving the impression that NATO is in line with the Bush position that a quick agreement bringing Soviet conventional forces down to parity with NATO is the West's top bargaining priority.@@@@1@38@@oe@2-2-2013
20242009@unknown@formal@none@1@S@But even though NATO negotiators have only 10 months left under the Bush timetable, they are still wrestling over such seemingly fundamental questions as "What is a tank?"@@@@1@28@@oe@2-2-2013
20242010@unknown@formal@none@1@S@Five of the six categories of weapons under negotiation haven't even been defined.@@@@1@13@@oe@2-2-2013
20242011@unknown@formal@none@1@S@Tanks currently are defined as armored vehicles weighing 25 tons or more that carry large guns.@@@@1@16@@oe@2-2-2013
20242012@unknown@formal@none@1@S@The Soviets complicated the issue by offering to include light tanks, which are as light as 10 tons.@@@@1@18@@oe@2-2-2013
20242013@unknown@formal@none@1@S@Oleg A. Grinevsky, the chief Soviet negotiator in the conventional-arms talks, argued that this would mean the Soviets would have to destroy some 1,800 tanks, while the U.S. would lose none because it has no light tanks in Europe.@@@@1@39@@oe@2-2-2013
20242014@unknown@formal@none@1@S@But the issue is stickier than it seems.@@@@1@8@@oe@2-2-2013
20242015@unknown@formal@none@1@S@France, Britain and Italy all have light tanks they would like to keep out of the talks.@@@@1@17@@oe@2-2-2013
20242016@unknown@formal@none@1@S@And some U.S. Army analysts worry that the proposed Soviet redefinition is aimed at blocking the U.S. from developing lighter, more transportable, high-technology tanks.@@@@1@24@@oe@2-2-2013
20242017@unknown@formal@none@1@S@Defining combat aircraft is even tougher.@@@@1@6@@oe@2-2-2013
20242018@unknown@formal@none@1@S@The Soviets insisted that aircraft be brought into the talks, then argued for exempting some 4,000 Russian planes because they are "solely defensive."@@@@1@23@@oe@2-2-2013
20242019@unknown@formal@none@1@S@NATO hasn't budged from its insistence that any gun-carrying plane has offensive capability.@@@@1@13@@oe@2-2-2013
20242020@unknown@formal@none@1@S@The dispute over that issue, according to one U.S. official, is a "potential treaty stopper," and only President Bush and Soviet leader Mikhail Gorbachev may be able to resolve it.@@@@1@30@@oe@2-2-2013
20242021@unknown@formal@none@1@S@Accounting problems raise more knotty issues.@@@@1@6@@oe@2-2-2013
20242022@unknown@formal@none@1@S@Greece and Turkey, for example, are suspected of overstating their arsenals in hopes that they can emerge from the arms-reduction treaty with large remaining forces to deter each other.@@@@1@29@@oe@2-2-2013
20242023@unknown@formal@none@1@S@Other nations aren't sure how many weapons they have in their own arsenals.@@@@1@13@@oe@2-2-2013
20242024@unknown@formal@none@1@S@"It's just going to be sloppy, both on our side and theirs {the Warsaw Pact's}," says one NATO analyst.@@@@1@19@@oe@2-2-2013
20242025@unknown@formal@none@1@S@So far, neither the Bush administration nor arms-control experts in Congress seem moved by arguments that these problems may take more time to thrash out than President Bush has allowed.@@@@1@30@@oe@2-2-2013
20242026@unknown@formal@none@1@S@They argue that the bigger danger would be that the West would delay action so long that the Soviets might back away from the current conciliatory attitude.@@@@1@27@@oe@2-2-2013
20242027@unknown@formal@none@1@S@"So what if you miss 50 tanks somewhere?" asks Rep. Norman Dicks (D., Wash.), a member of the House group that visited the talks in Vienna.@@@@1@26@@oe@2-2-2013
20242028@unknown@formal@none@1@S@"The bottom line is that if we can get that {Warsaw Pact} superiority brought down to parity, we ought to keep pressing ahead as quickly as possible.@@@@1@27@@oe@2-2-2013
20242029@unknown@formal@none@1@S@I worry more about things becoming so unraveled on the other side that they might become unable to negotiate.@@@@1@19@@oe@2-2-2013
20243001@unknown@formal@none@1@S@International Lease Finance Corp. announced a leasing contract with charter carrier American Trans Air Inc., in a transaction involving six Boeing Co. 757-200s.@@@@1@23@@oe@2-2-2013
20243002@unknown@formal@none@1@S@The value of the jets, including spares, is in excess of $250 million.@@@@1@13@@oe@2-2-2013
20243003@unknown@formal@none@1@S@Two of the 757-200s are new aircraft to be delivered to American Trans Air, the main subsidiary of Amtran Inc., in December 1991 and January 1992.@@@@1@26@@oe@2-2-2013
20243004@unknown@formal@none@1@S@Four of the planes were purchased by International Lease from Singapore Airlines in a previously announced transaction.@@@@1@17@@oe@2-2-2013
20243005@unknown@formal@none@1@S@Delivery of the first aircraft is set for early November, a second for December and two for April 1990.@@@@1@19@@oe@2-2-2013
20244001@unknown@formal@none@1@S@Norway's unemployment rate for October was 3.6%, unchanged from September but up from 2.6% in the same month last year.@@@@1@20@@oe@2-2-2013
20244002@unknown@formal@none@1@S@The figure excludes a record number employed by extraordinary government work programs, the Labor Directorate announced Tuesday.@@@@1@17@@oe@2-2-2013
20244003@unknown@formal@none@1@S@Including those in the state programs, there were 143,800 Norwegians, or about 6.5% of the work force, without permanent employment in October, up from September's 136,800.@@@@1@26@@oe@2-2-2013
20244004@unknown@formal@none@1@S@The number of people registered as jobless at the end of October declined by 900 from September to 78,600.@@@@1@19@@oe@2-2-2013
20244005@unknown@formal@none@1@S@Those employed in state-funded special programs increased by 7,400 to 65,200 in the same period, the Directorate said.@@@@1@18@@oe@2-2-2013
20244006@unknown@formal@none@1@S@In October 1988, there were 40,800 fewer employed by government programs.@@@@1@11@@oe@2-2-2013
20245001@unknown@formal@none@1@S@Coca-Cola Co., aiming to boost soft-drink volume in Singapore, said it is discussing a joint venture with Fraser & Neave Ltd., its bottling franchisee in that country.@@@@1@27@@oe@2-2-2013
20245002@unknown@formal@none@1@S@The venture would be the latest in Coke's rapid expansion of overseas investment.@@@@1@13@@oe@2-2-2013
20245003@unknown@formal@none@1@S@So far this year, it has put nearly $700 million into bottling operations in Australia, New Zealand and France.@@@@1@19@@oe@2-2-2013
20245004@unknown@formal@none@1@S@The move also reflects Coke's eagerness to have a hand in developing the soft-drink markets in Pacific Basin countries.@@@@1@19@@oe@2-2-2013
20245005@unknown@formal@none@1@S@Aside from Europe, the Pacific division is where Coke will be focusing much of its attention for years to come.@@@@1@20@@oe@2-2-2013
20245006@unknown@formal@none@1@S@That's because when Coke looks to the Pacific area, it sees an economic and demographic gold mine.@@@@1@17@@oe@2-2-2013
20245007@unknown@formal@none@1@S@In countries such as Taiwan, South Korea and Singapore, economies are growing, resulting in a rise in disposable income that consumers can use for soft drinks.@@@@1@26@@oe@2-2-2013
20245008@unknown@formal@none@1@S@And unlike Europe and the U.S., where populations are aging, the Pacific Basin countries have growing proportions of youths -- the heaviest consumers of Coca-Cola and other sodas.@@@@1@28@@oe@2-2-2013
20245009@unknown@formal@none@1@S@A Coca-Cola spokesman said it is too early to say how the joint venture would be structured, or how much the company would invest in the transaction.@@@@1@27@@oe@2-2-2013
20245010@unknown@formal@none@1@S@In the past, however, Coke has typically taken a minority stake in such ventures.@@@@1@14@@oe@2-2-2013
20245011@unknown@formal@none@1@S@By acquiring stakes in bottling companies in the U.S. and overseas, Coke has been able to improve bottlers' efficiency and production, and in some cases, marketing.@@@@1@26@@oe@2-2-2013
20245012@unknown@formal@none@1@S@Coke has tended to increase its control when results were sluggish in a given country.@@@@1@15@@oe@2-2-2013
20245013@unknown@formal@none@1@S@That doesn't appear to be the case in Singapore, a country of about three million people with a relatively high soft-drink consumption rate -- a key indicator of Coke's success in a market.@@@@1@33@@oe@2-2-2013
20245014@unknown@formal@none@1@S@In Singapore, per-capita consumption is about one-third that of the U.S.@@@@1@11@@oe@2-2-2013
20245015@unknown@formal@none@1@S@And combining Fraser & Neave's own soft drinks with Coca-Cola's gives the Singapore company more than half the share of the soda market there, Coke said.@@@@1@26@@oe@2-2-2013
20245016@unknown@formal@none@1@S@Fraser & Neave, which also has interests in packaging, beer and dairy products, holds the Coke licenses for Malaysia and Brunei, where per-capita consumption isn't as high as in Singapore.@@@@1@30@@oe@2-2-2013
20245017@unknown@formal@none@1@S@Coke could be interested in more quickly developing some of the untapped potential in those markets.@@@@1@16@@oe@2-2-2013
20245018@unknown@formal@none@1@S@A Coke spokesman said he couldn't say whether that is the direction of the talks.@@@@1@15@@oe@2-2-2013
20245019@unknown@formal@none@1@S@Coke said the joint-venture arrangement, which needs approval from both companies' boards, should be completed early next year.@@@@1@18@@oe@2-2-2013
20246001@unknown@formal@none@1@S@AMERICAN BRANDS Inc., Old Greenwich, Conn., said it increased its quarterly 11% to 68 cents a share from 61 cents, payable Dec. 1 to stock of record Nov. 10.@@@@1@29@@oe@2-2-2013
20246002@unknown@formal@none@1@S@The increase follows the company's report of strong earnings for the third quarter, and reflects what American Brands called its "tradition of sharing earnings growth" with shareholders.@@@@1@27@@oe@2-2-2013
20246003@unknown@formal@none@1@S@American Brands is a consumer products company with core businesses in tobacco, distilled spirits and life insurance.@@@@1@17@@oe@2-2-2013
20246004@unknown@formal@none@1@S@As of Sept. 30, American Brands had 95.2 million shares outstanding.@@@@1@11@@oe@2-2-2013
20247001@unknown@formal@none@1@S@Giovanni Agnelli & Co. announced a transaction that will strengthen its indirect control of Fiat S.p.A. and will admit Prince Karim Aga Khan as its first non-family shareholder.@@@@1@28@@oe@2-2-2013
20247002@unknown@formal@none@1@S@Giovanni Agnelli, a limited partnership that is the master holding company for Fiat's Agnelli family, owns approximately 75% of the shares in Istituto Finanziario Industriale, which in turn owns approximately 40% of Fiat, Italy's biggest private-sector industrial group.@@@@1@38@@oe@2-2-2013
20247003@unknown@formal@none@1@S@The company said Maria Sole Agnelli Teodorani, sister of Fiat Chairman Giovanni Agnelli, agreed to trade her shares in IFI for new ordinary shares in the limited partnership, which will give her control of 4.67% of Giovanni Agnelli & Co.@@@@1@40@@oe@2-2-2013
20247004@unknown@formal@none@1@S@The Aga Khan, meanwhile, agreed to trade some of his stake in Luxembourg-based Ifint S.A., another Agnelli family company, for 7.45% of Giovanni Agnelli & Co.'s capital.@@@@1@27@@oe@2-2-2013
20247005@unknown@formal@none@1@S@His new stake would be in the form of preferred shares, which receive higher dividends but have voting rights only in extraordinary shareholders assemblies.@@@@1@24@@oe@2-2-2013
20247006@unknown@formal@none@1@S@The Aga Khan owns 10% of Ifint's capital, while IFI owns 23%.@@@@1@12@@oe@2-2-2013
20247007@unknown@formal@none@1@S@As a result of the transaction, which is expected to be approved at a shareholders meeting Nov. 24, Giovanni Agnelli & Co. will control 79.18% of IFI's ordinary shares.@@@@1@29@@oe@2-2-2013
20247008@unknown@formal@none@1@S@Its capital will also be raised to 232.4 billion lire ($172.5 million) from the current 204.3 billion lire.@@@@1@18@@oe@2-2-2013
20247009@unknown@formal@none@1@S@IFI also has nonvoting preferred shares, which are quoted on the Milan stock exchange.@@@@1@14@@oe@2-2-2013
20247010@unknown@formal@none@1@S@The value of the two transactions wasn't disclosed, but an IFI spokesman said no cash would change hands.@@@@1@18@@oe@2-2-2013
20247011@unknown@formal@none@1@S@The move strengthens the existing links between the Agnellis and the Aga Khan, the head of the world's Ismaili Moslems who is a longtime family friend and frequently goes sailing with Mr. Agnelli.@@@@1@33@@oe@2-2-2013
20247012@unknown@formal@none@1@S@Mr. Agnelli and the Aga Khan also have some business ties, and a spokesman for the Agnelli company didn't rule out that the current agreement could lead to further collaboration.@@@@1@30@@oe@2-2-2013
20247013@unknown@formal@none@1@S@For instance, Ifint earlier this year bought an 18% stake in Alisarda, the Aga Khan's airline, which flies between Italy and Sardinia.@@@@1@22@@oe@2-2-2013
20247014@unknown@formal@none@1@S@Giovanni Agnelli & Co., which was formed in January 1987 as a way of keeping the Agnellis' controlling stake in Fiat together despite an ever-growing family tree, has been playing a more active role in the Agnelli group of late.@@@@1@40@@oe@2-2-2013
20247015@unknown@formal@none@1@S@It raised financing of 300 billion lire for the purchase this summer by another Agnelli-related group of the food concern Galbani S.p.A., by selling a chunk of its IFI shares to Mediobanca S.p.A.@@@@1@33@@oe@2-2-2013
20247016@unknown@formal@none@1@S@Mediobanca said during the weekend that it agreed to sell the shares back to Giovanni Agnelli for 333 billion lire.@@@@1@20@@oe@2-2-2013
20248001@unknown@formal@none@1@S@Your Oct. 2 page-one article on people riding so-called "railbikes" on railroad tracks was a disservice to your readers.@@@@1@19@@oe@2-2-2013
20248002@unknown@formal@none@1@S@It unfortunately encourages others to engage in a highly dangerous and illegal activity that only a very few are doing now.@@@@1@21@@oe@2-2-2013
20248003@unknown@formal@none@1@S@And it treats such activities in a frivolous, cavalier fashion, with total indifference to common sense and public safety.@@@@1@19@@oe@2-2-2013
20248004@unknown@formal@none@1@S@Saul Resnick@@@@1@2@@oe@2-2-2013
20248005@unknown@formal@none@1@S@Vice President@@@@1@2@@oe@2-2-2013
20248006@unknown@formal@none@1@S@Public Affairs@@@@1@2@@oe@2-2-2013
20248007@unknown@formal@none@1@S@Conrail@@@@1@1@@oe@2-2-2013
20249001@unknown@formal@none@1@S@MCI Communications Corp. said it received a three-year contract valued at more than $15 million to provide network, credit-card and other telecommunications services to Drexel Burnham Lambert Inc.@@@@1@28@@oe@2-2-2013
20250001@unknown@formal@none@1@S@Congressional Democrats and the Bush administration agreed on a compromise minimum-wage bill, opening the way for the first wage-floor boost in more than nine years.@@@@1@25@@oe@2-2-2013
20250002@unknown@formal@none@1@S@The agreement ended a long impasse between the congressional leaders and the White House over the wage issue.@@@@1@18@@oe@2-2-2013
20250003@unknown@formal@none@1@S@President Bush in June vetoed a measure passed by Congress and said he wouldn't accept any minimum-wage rise that went beyond limits he set early in this year's debate on the issue.@@@@1@32@@oe@2-2-2013
20250004@unknown@formal@none@1@S@The compromise was a somewhat softened version of what the White House had said it would accept.@@@@1@17@@oe@2-2-2013
20250005@unknown@formal@none@1@S@Under the agreement with the House and Senate leaders, the minimum wage would rise from the current $3.35 an hour to $4.25 an hour by April 1991.@@@@1@27@@oe@2-2-2013
20250006@unknown@formal@none@1@S@Employers could also pay a subminimum "training wage" for 90 days to new workers who are up to 19 years old, and then for another 90 days if the company institutes a specific training program for the newcomers.@@@@1@38@@oe@2-2-2013
20250007@unknown@formal@none@1@S@White House officials were delighted that the compromise includes the concept of a training wage, which Mr. Bush has fought for throughout the year.@@@@1@24@@oe@2-2-2013
20250008@unknown@formal@none@1@S@"For the first time in history, we have a training wage that will be part" of the nation's labor laws, said Roger Porter, assistant to the president for economic and domestic policy.@@@@1@32@@oe@2-2-2013
20250009@unknown@formal@none@1@S@White House aides said that although they made a small compromise on the length of a training wage, the final minimum-wage increase will meet the standards set by Mr. Bush.@@@@1@30@@oe@2-2-2013
20250010@unknown@formal@none@1@S@The bill vetoed by the president in June, which the House failed to override, would have lifted the minimum wage to $4.55 an hour by late 1991, with a training wage for up to two months, generally for a worker's first job.@@@@1@42@@oe@2-2-2013
20250011@unknown@formal@none@1@S@Mr. Bush had been holding out for a bill boosting the wage floor to $4.25 an hour by the end of 1991, coupled with a six-month training wage for workers newly hired by any employer.@@@@1@35@@oe@2-2-2013
20250012@unknown@formal@none@1@S@Under the compromise, the $4.25 level would be reached nine months earlier, while the training subminimum would be shorter, unless it is tied to a training plan.@@@@1@27@@oe@2-2-2013
20250013@unknown@formal@none@1@S@Democrats argued that the training wage was a way of allowing employers to pay less than the minimum wage, while new workers need far less than six months to be trained for their jobs.@@@@1@34@@oe@2-2-2013
20250014@unknown@formal@none@1@S@Democrats had been negotiating with some Republican congressional leaders on a compromise lately.@@@@1@13@@oe@2-2-2013
20250015@unknown@formal@none@1@S@With congressional elections next year, GOP leaders have worried about opposing a minimum-wage rise for low-paid workers at a time when Congress is moving toward a capital-gains tax cut that would directly benefit wealthier taxpayers.@@@@1@35@@oe@2-2-2013
20250016@unknown@formal@none@1@S@Republicans have been imploring the White House to compromise on the wage issue.@@@@1@13@@oe@2-2-2013
20250017@unknown@formal@none@1@S@In the Senate, Edward Kennedy (D., Mass.), chairman of the Labor Committee, and Pete Domenici, (R., N.M.) ranking minority member of the Budget Committee, have been working on a compromise, and their soundings showed that the Senate appeared to be heading toward enough strength to override another Bush veto, a Democratic staff official said.@@@@1@54@@oe@2-2-2013
20250018@unknown@formal@none@1@S@The House is scheduled to vote this week on the compromise, as a substitute to a new Democratic bill, itself watered down from last spring's version.@@@@1@26@@oe@2-2-2013
20250019@unknown@formal@none@1@S@The Senate will probably vote not long afterward.@@@@1@8@@oe@2-2-2013
20250020@unknown@formal@none@1@S@Some Democrats thought they might have compromised too much.@@@@1@9@@oe@2-2-2013
20250021@unknown@formal@none@1@S@Rep. Austin Murphy (D., Pa.), chairman of the House labor standards subcommittee, said they might have done better "if we'd held their feet to the fire."@@@@1@26@@oe@2-2-2013
20250022@unknown@formal@none@1@S@Mr. Kennedy suggested Democrats "yielded a great deal" on the size of the increase, but he cited concessions from the White House on the training wage, which he said make it "less harsh."@@@@1@33@@oe@2-2-2013
20250023@unknown@formal@none@1@S@With only 16-year-olds to 19-year-olds eligible, 68% of workers getting less than $4.25 an hour, who are adults, won't be subject to the training wage, he said.@@@@1@27@@oe@2-2-2013
20250024@unknown@formal@none@1@S@The AFL-CIO, which previously opposed the administration's subminimum idea, said the compromise has "adequate safeguards, so the youth are not exploited and older workers are not displaced."@@@@1@27@@oe@2-2-2013
20250025@unknown@formal@none@1@S@Gerald F. Seib contributed to this article.@@@@1@7@@oe@2-2-2013
20251001@unknown@formal@none@1@S@Moody's Investors Service Inc. said it lowered the ratings on about $3.2 billion of Houston Lighting & Power Co.'s securities because of the company's low levels of interest coverage and internal cash generation.@@@@1@33@@oe@2-2-2013
20251002@unknown@formal@none@1@S@Houston Lighting is a unit of Houston Industries Inc., a utility holding company in Houston.@@@@1@15@@oe@2-2-2013
20251003@unknown@formal@none@1@S@Downgraded by Moody's were Houston Lighting's first-mortgage bonds and secured pollution-control bonds to single-A-3 from single-A-2; unsecured pollution-control bonds to Baa-1 from single-A-3; preferred stock to single-A-3 from single-A-2; a shelf registration for preferred stock to a preliminary rating of single-A-3 from a preliminary rating of single-A-2; two shelf registrations for collateralized debt securities to a preliminary rating of single-A-3 from a preliminary rating of single-A-2, and the unit's rating for commercial paper to Prime-2 from Prime-1.@@@@1@77@@oe@2-2-2013
20251004@unknown@formal@none@1@S@Moody's said Houston Lighting's current situation has some positive aspects, including managing "very well" the construction and commercial operation risks of Units 1 and 2 of the South Texas Project nuclear power plant.@@@@1@33@@oe@2-2-2013
20251005@unknown@formal@none@1@S@Capital requirements will be declining and no new generating facilities will be required for several years, Moody's said.@@@@1@18@@oe@2-2-2013
20252001@unknown@formal@none@1@S@Scott C. Smith, formerly vice president, finance, and chief financial officer of this media concern, was named senior vice president.@@@@1@20@@oe@2-2-2013
20252002@unknown@formal@none@1@S@Mr. Smith, 39, retains the title of chief financial officer.@@@@1@10@@oe@2-2-2013
20253001@unknown@formal@none@1@S@Armstrong World Industries Inc. agreed in principle to sell its carpet operations to Shaw Industries Inc.@@@@1@16@@oe@2-2-2013
20253002@unknown@formal@none@1@S@The price wasn't disclosed but one analyst estimated that it was $150 million.@@@@1@13@@oe@2-2-2013
20253003@unknown@formal@none@1@S@Armstrong, which has faced a takeover threat from the Belzberg family of Canada since July, said that disposing of the carpet business would improve "total financial performance."@@@@1@27@@oe@2-2-2013
20253004@unknown@formal@none@1@S@The move also would allow the company to concentrate on core businesses, which include ceramic tile, floor coverings and furniture.@@@@1@20@@oe@2-2-2013
20253005@unknown@formal@none@1@S@Moreover, such a sale could help Armstrong reassure its investors and deter the Belzbergs, who own a 9.85% stake in the Lancaster, Pa., company.@@@@1@24@@oe@2-2-2013
20253006@unknown@formal@none@1@S@Analysts expect Armstrong to use proceeds of the sale to reduce debt, buy back stock or perhaps finance an acquisition.@@@@1@20@@oe@2-2-2013
20253007@unknown@formal@none@1@S@The carpet division had 1988 sales of $368.3 million, or almost 14% of Armstrong's $2.68 billion total revenue.@@@@1@18@@oe@2-2-2013
20253008@unknown@formal@none@1@S@The company has been manufacturing carpet since 1967.@@@@1@8@@oe@2-2-2013
20253009@unknown@formal@none@1@S@Recently it upgraded its plants so that it could make stain-resistant products with higher quality dyes.@@@@1@16@@oe@2-2-2013
20253010@unknown@formal@none@1@S@For the past year or two, the carpet division's operating profit margins have hovered around 5%, high by industry standards, but disappointing compared with the 13% to 19% margins for two of Armstrong's chief businesses, flooring and building products.@@@@1@39@@oe@2-2-2013
20253011@unknown@formal@none@1@S@Analysts hailed the planned transaction as being beneficial to Armstrong and Shaw, the market leader in the U.S. carpet industry, with an estimated 17% to 20% share.@@@@1@27@@oe@2-2-2013
20253012@unknown@formal@none@1@S@Shaw, based in Dalton, Ga., has annual sales of about $1.18 billion, and has economies of scale and lower raw-material costs that are expected to boost the profitability of Armstrong's brands, sold under the Armstrong and Evans-Black names.@@@@1@38@@oe@2-2-2013
20253013@unknown@formal@none@1@S@Yesterday, in composite trading on the New York Stock Exchange, Shaw's shares closed ex-dividend at $26.125, up $2.25.@@@@1@18@@oe@2-2-2013
20253014@unknown@formal@none@1@S@Armstrong's shares, also listed on the Big Board, closed at $39.125, up 12.5 cents.@@@@1@14@@oe@2-2-2013
20253015@unknown@formal@none@1@S@Yesterday, Armstrong reported flat earnings for the third quarter and nine months, worsened by the stock dilution of an employee stock ownership plan adopted earlier this year.@@@@1@27@@oe@2-2-2013
20253016@unknown@formal@none@1@S@For the quarter, earnings were $47 million, or 92 cents a share, including a one-time gain of $5.9 million.@@@@1@19@@oe@2-2-2013
20253017@unknown@formal@none@1@S@In the year-ago quarter, earnings were $42.9 million, or 93 cents a share.@@@@1@13@@oe@2-2-2013
20253018@unknown@formal@none@1@S@Yesterday, Armstrong announced an agreement to sell its small Applied Color Systems unit to a subsidiary of the Swiss company, Brauerei Eichof Ltd.@@@@1@23@@oe@2-2-2013
20253019@unknown@formal@none@1@S@The price wasn't disclosed.@@@@1@4@@oe@2-2-2013
20253020@unknown@formal@none@1@S@Armstrong expects to close the sale of the color unit in late November and the carpet sale in December, with the gains to be applied to fourth quarter or first-quarter results.@@@@1@31@@oe@2-2-2013
20254001@unknown@formal@none@1@S@The government's primary economic-forecasting gauge rose a slight 0.2% in September, but economists said the report offered little new information on the degree to which the U.S. economy is slowing.@@@@1@30@@oe@2-2-2013
20254002@unknown@formal@none@1@S@The small increase in the index of leading indicators, which had climbed 0.5% in August but was unchanged in July, does lend support to the view that the economy has slowed noticeably.@@@@1@32@@oe@2-2-2013
20254003@unknown@formal@none@1@S@However, it doesn't give much of a clue as to whether a recession is on the horizon.@@@@1@17@@oe@2-2-2013
20254004@unknown@formal@none@1@S@"I don't think it provides much new information on the economy," said Richard Rippe, economist at Dean Witter Reynolds Inc.@@@@1@20@@oe@2-2-2013
20254005@unknown@formal@none@1@S@So far this year, the index of leading indicators has risen in four months, fallen in four months and remained unchanged in the other month.@@@@1@25@@oe@2-2-2013
20254006@unknown@formal@none@1@S@In another report yesterday, the Commerce Department said sales of new single-family houses plunged 14% in September to an annual rate of 618,000 from 719,000 in August.@@@@1@27@@oe@2-2-2013
20254007@unknown@formal@none@1@S@The declines were particularly pronounced in the Northeast and in the South, where Hurricane Hugo was a factor.@@@@1@18@@oe@2-2-2013
20254008@unknown@formal@none@1@S@Although September's weakness followed two strong months for home sales, the decline supports other indications that the drop in mortgage rates earlier this year has had only a limited beneficial effect on the housing market.@@@@1@35@@oe@2-2-2013
20254009@unknown@formal@none@1@S@The September drop was the largest since a 19% drop in January 1982, but monthly changes in this measure are even less reliable than those in other economic indicators.@@@@1@29@@oe@2-2-2013
20254010@unknown@formal@none@1@S@Because the figures are based on a small sample, the department said it is 90% confident only that new-home sales fell somewhere between 5% and 23% during the month.@@@@1@29@@oe@2-2-2013
20254011@unknown@formal@none@1@S@The department also said it takes four months to establish a trend.@@@@1@12@@oe@2-2-2013
20254012@unknown@formal@none@1@S@So far this year, 534,000 newly built homes have been sold, down 4.5% from the like months of 1988.@@@@1@19@@oe@2-2-2013
20254013@unknown@formal@none@1@S@The index of leading indicators got a major boost in September from a surge in consumer expectations as measured by the University of Michigan.@@@@1@24@@oe@2-2-2013
20254014@unknown@formal@none@1@S@This measure had dropped sharply in August.@@@@1@7@@oe@2-2-2013
20254015@unknown@formal@none@1@S@The Commerce Department said that as a result of a new adjustment to the formula used to calculate the index, the influence of this component has been reduced.@@@@1@28@@oe@2-2-2013
20254016@unknown@formal@none@1@S@Of the 11 components to the index, only three others rose in September: the money supply, the length of the average work week and stock prices.@@@@1@26@@oe@2-2-2013
20254017@unknown@formal@none@1@S@Several components that track the health of the manufacturing sector of the economy turned down in September.@@@@1@17@@oe@2-2-2013
20254018@unknown@formal@none@1@S@These include new orders for manufactured consumer goods, lead times on vendor deliveries, orders for new plant and equipment, and backlogs of orders for durable goods.@@@@1@26@@oe@2-2-2013
20254019@unknown@formal@none@1@S@Meanwhile, the National Association of Manufacturers said yesterday a recent poll of 53 executives on its board found that 61% don't expect a recession to occur until 1991 or later.@@@@1@30@@oe@2-2-2013
20254020@unknown@formal@none@1@S@The remainder expect a downturn to begin sometime in@@@@1@9@@oe@2-2-2013
20254021@unknown@formal@none@1@S@Although manufacturers often are quick to call for lower interest rates, 60% of the executives said they would prefer that the Fed keep inflation-fighting as its top priority even if that means higher rates.@@@@1@34@@oe@2-2-2013
20254022@unknown@formal@none@1@S@The other 40% said the Fed ought to worry less about inflation and bring interest rates down.@@@@1@17@@oe@2-2-2013
20254023@unknown@formal@none@1@S@All the figures are adjusted to remove usual seasonal patterns.@@@@1@10@@oe@2-2-2013
20254024@unknown@formal@none@1@S@Here are the net contributions of the components of the Commerce Department's index of leading indicators.@@@@1@16@@oe@2-2-2013
20254025@unknown@formal@none@1@S@After various adjustments, they produced a 0.5% rise in the index for August and a 0.2% rise for September.@@@@1@19@@oe@2-2-2013
20254026@unknown@formal@none@1@S@September, and the change from August, are: from 1.11 in the previous month.@@@@1@13@@oe@2-2-2013
20255001@unknown@formal@none@1@S@Boston Edison Co. said it will take a previously reported $60 million charge against earnings in the fourth quarter.@@@@1@19@@oe@2-2-2013
20255002@unknown@formal@none@1@S@The charge resulted from a settlement approved yesterday by the Massachusetts Department of Public Utilities.@@@@1@15@@oe@2-2-2013
20255003@unknown@formal@none@1@S@As expected, the settlement limits rate increases for three years and ties future charges to customers for operation of the troubled Pilgrim Nuclear Power Station to that plant's performance.@@@@1@29@@oe@2-2-2013
20255004@unknown@formal@none@1@S@In its order, the state regulatory agency said the company "must be held accountable for the mistakes made in the management of the plant's operation."@@@@1@25@@oe@2-2-2013
20255005@unknown@formal@none@1@S@Pilgrim had been closed for 32 months.@@@@1@7@@oe@2-2-2013
20256001@unknown@formal@none@1@S@The average interest rate rose to 8.3875% at Citicorp's $50 million weekly auction of 91-day commercial paper, or corporate IOUs, from 8.337% at last week's sale.@@@@1@26@@oe@2-2-2013
20256002@unknown@formal@none@1@S@Bids totaling $515 million were submitted.@@@@1@6@@oe@2-2-2013
20256003@unknown@formal@none@1@S@Accepted bids ranged from 8.38% to 8.395%.@@@@1@7@@oe@2-2-2013
20256004@unknown@formal@none@1@S@Citicorp also said that the average rate rose to 8.0087% at its $50 million auction of 182-day commercial paper from 7.962% at last week's sale.@@@@1@25@@oe@2-2-2013
20256005@unknown@formal@none@1@S@Bids totaling $475 million were submitted.@@@@1@6@@oe@2-2-2013
20256006@unknown@formal@none@1@S@Accepted bids ranged from 8% to 8.019%.@@@@1@7@@oe@2-2-2013
20256007@unknown@formal@none@1@S@The bank holding company will auction another $50 million in each maturity next Tuesday.@@@@1@14@@oe@2-2-2013
20257001@unknown@formal@none@1@S@An imaginative novelist writing a thriller about amateur spy-chasing might invent a Clifford Stoll, but it's unlikely.@@@@1@17@@oe@2-2-2013
20257002@unknown@formal@none@1@S@It's also unnecessary.@@@@1@3@@oe@2-2-2013
20257003@unknown@formal@none@1@S@Amateur spy-chaser Clifford Stoll is a real person, or as he might waggishly put it, a surreal person.@@@@1@18@@oe@2-2-2013
20257004@unknown@formal@none@1@S@He is 37, an astronomer with impressive credentials, and something of a genius at making computers do his bidding.@@@@1@19@@oe@2-2-2013
20257005@unknown@formal@none@1@S@He once described himself as a "Berkeley Hippie," and played the role well; obligatory ragged jeans, a thicket of long hair and rejection of all things conventional, including, for a time at least, formal marriage to his "sweetheart," Martha Matthews.@@@@1@40@@oe@2-2-2013
20257006@unknown@formal@none@1@S@He also is an entertaining writer, combining wisecracks and wordplay with programmatic detail and lucid explanations of how computers work.@@@@1@20@@oe@2-2-2013
20257007@unknown@formal@none@1@S@In "The Cuckoo's Egg" (Doubleday, 326 pages, $19.95), he spins a remarkable tale of his efforts over 18 months to catch a computer spy.@@@@1@24@@oe@2-2-2013
20257008@unknown@formal@none@1@S@The result last spring was the arrest by West German authorities of five young West Germans, accused of stealing information from computers in the U.S. and Europe and selling it to the Soviet KGB.@@@@1@34@@oe@2-2-2013
20257009@unknown@formal@none@1@S@One of them, 25-year-old Markus Hess of Hannover, allegedly used the international telecommunications network to break into more than 30 high-security computers in the U.S., searching for secrets.@@@@1@28@@oe@2-2-2013
20257010@unknown@formal@none@1@S@He probably didn't penetrate any top-secret files, but the KGB in East Berlin was willing to pay two of his associates, Peter Carl and Dirk Brezinski, $15,000 for some of the material Hess collected.@@@@1@34@@oe@2-2-2013
20257011@unknown@formal@none@1@S@They promised yet more for really good stuff.@@@@1@8@@oe@2-2-2013
20257012@unknown@formal@none@1@S@Mr. Stoll draws his title from the cuckoo's habit of laying eggs in the nests of other birds, making them surrogate parents.@@@@1@22@@oe@2-2-2013
20257013@unknown@formal@none@1@S@The computer spy had discovered that a popular editing/electronic mail program called Gnu-Emacs could do tricks with the widely used Unix operating system created by AT&T.@@@@1@26@@oe@2-2-2013
20257014@unknown@formal@none@1@S@Using Gnu-Emacs, the spy could substitute a bogus "atrun" program for the one that routinely cleans up the Unix system every five minutes.@@@@1@23@@oe@2-2-2013
20257015@unknown@formal@none@1@S@Once his cuckoo's egg was laid, he could enter Unix and become a "super-user," with access to everything.@@@@1@18@@oe@2-2-2013
20257016@unknown@formal@none@1@S@Mr. Stoll was scanning the heavens at the Keck observatory of the Lawrence Berkeley Laboratory in 1986 when his grant ran low and he was asked to switch to helping run the lab's computers.@@@@1@34@@oe@2-2-2013
20257017@unknown@formal@none@1@S@He discovered a 75-cent discrepancy in the charges made to various departments for computer time and traced it to a user named "Hunter," who had no valid billing address.@@@@1@29@@oe@2-2-2013
20257018@unknown@formal@none@1@S@Mr. Stoll suspected the intruder was one of those precocious students who has fun breaking into computers.@@@@1@17@@oe@2-2-2013
20257019@unknown@formal@none@1@S@But after much tracking, it became evident to Mr. Stoll, through various clues, that the hacker was not on the Berkeley campus or even in California.@@@@1@26@@oe@2-2-2013
20257020@unknown@formal@none@1@S@Finding him became an obsession for Mr. Stoll.@@@@1@8@@oe@2-2-2013
20257021@unknown@formal@none@1@S@He made a midnight requisition of all the printers he could lay hands on so that he could monitor all the telephone lines coming into the lab's computers.@@@@1@28@@oe@2-2-2013
20257022@unknown@formal@none@1@S@After discovering that the hacker had taken over the dormant account of a legitimate user named Joe Sventek, he rigged up an alarm system, including a portable beeper, to alert him when Sventek came on the line.@@@@1@37@@oe@2-2-2013
20257023@unknown@formal@none@1@S@Some nights he slept under his desk.@@@@1@7@@oe@2-2-2013
20257024@unknown@formal@none@1@S@His boss complained about neglect of other chores.@@@@1@8@@oe@2-2-2013
20257025@unknown@formal@none@1@S@The hacker was pawing over the Berkeley files but also using Berkeley and other easily accessible computers as stepping stones to the network of computers used by the military and national security agencies.@@@@1@33@@oe@2-2-2013
20257026@unknown@formal@none@1@S@The White Sands missile range and CIA contractor Mitre Inc. were among the targets.@@@@1@14@@oe@2-2-2013
20257027@unknown@formal@none@1@S@When the hacker moved, Mr. Stoll moved too, calling up other systems managers to alert them but keeping his own system open to avoid arousing suspicion.@@@@1@26@@oe@2-2-2013
20257028@unknown@formal@none@1@S@Sometimes, if the hacker seemed to be into a sensitive file, he would drag his keychain across the terminal to create static or slow the system down to frustrate his quarry.@@@@1@31@@oe@2-2-2013
20257029@unknown@formal@none@1@S@The FBI initially showed little interest, and he had the impression other federal security agencies were tangled up in legal red tape.@@@@1@22@@oe@2-2-2013
20257030@unknown@formal@none@1@S@The CIA told him it does not do domestic counterespionage.@@@@1@10@@oe@2-2-2013
20257031@unknown@formal@none@1@S@One learns a lot from this book, or seems to, about crippling federal bureaucracy.@@@@1@14@@oe@2-2-2013
20257032@unknown@formal@none@1@S@"Seems to" because it's possible that the CIA and the National Security Agency were more interested than they let on to Mr. Stoll.@@@@1@23@@oe@2-2-2013
20257033@unknown@formal@none@1@S@Finally, he got help.@@@@1@4@@oe@2-2-2013
20257034@unknown@formal@none@1@S@Tymnet is a major network linking computers.@@@@1@7@@oe@2-2-2013
20257035@unknown@formal@none@1@S@One of its international specialists, Steve White, took a quick interest in Mr. Stoll's hunt, ultimately tracing the hacker to West Germany.@@@@1@22@@oe@2-2-2013
20257036@unknown@formal@none@1@S@The West Germans then took over and finally found Markus Hess.@@@@1@11@@oe@2-2-2013
20257037@unknown@formal@none@1@S@Eventually, Mr. Stoll was invited to both the CIA and NSA to brief high-ranking officers on computer theft.@@@@1@18@@oe@2-2-2013
20257038@unknown@formal@none@1@S@He savored the humor of his uncombed appearance among these buttoned-up chaps.@@@@1@12@@oe@2-2-2013
20257039@unknown@formal@none@1@S@Back in Berkeley, he was violently scolded by a left-wing lady friend for consorting with such people.@@@@1@17@@oe@2-2-2013
20257040@unknown@formal@none@1@S@He became angry in return.@@@@1@5@@oe@2-2-2013
20257041@unknown@formal@none@1@S@He had developed a hatred for the hacker and a grudging appreciation of the federal "spooks" who make national security their business.@@@@1@22@@oe@2-2-2013
20257042@unknown@formal@none@1@S@At several different levels, it's a fascinating tale.@@@@1@8@@oe@2-2-2013
20257043@unknown@formal@none@1@S@Mr. Melloan is deputy editor of the Journal.@@@@1@8@@oe@2-2-2013
20258001@unknown@formal@none@1@S@Mips Computer Systems Inc. today will unveil a new general-purpose computer that will compete with more expensive machines from companies such as Sun Microsystems Inc. and Digital Equipment Corp.@@@@1@29@@oe@2-2-2013
20258002@unknown@formal@none@1@S@The closely held Sunnyvale, Calif., company also will announce an agreement to supply computers to Control Data Corp., which will sell Mips machines under its own label.@@@@1@27@@oe@2-2-2013
20258003@unknown@formal@none@1@S@The new Mips machine, called the RC6280, will cost $150,000 for a basic system.@@@@1@14@@oe@2-2-2013
20258004@unknown@formal@none@1@S@The computer processes 55 million instructions per second and uses only one central processing chip, unlike many rival machines using several processors.@@@@1@22@@oe@2-2-2013
20258005@unknown@formal@none@1@S@The machine employs reduced instruction-set computing, or RISC, technology.@@@@1@9@@oe@2-2-2013
20258006@unknown@formal@none@1@S@At that price, an analyst familiar with the machine said, the computer offers up to 10 times the performance of similar machines.@@@@1@22@@oe@2-2-2013
20258007@unknown@formal@none@1@S@"In the price range it's a tremendously high-performing product," said Sandy Gant, an analyst at the market-research firm InfoCorp.@@@@1@19@@oe@2-2-2013
20258008@unknown@formal@none@1@S@The machine is part of an effort by Mips to establish itself as a supplier of computers, not just of integrated-circuit technology.@@@@1@22@@oe@2-2-2013
20258009@unknown@formal@none@1@S@Mips also wants to wedge into markets other than traditional RISC applications such as engineering; Mips said the new machine will also be used by businesses and for communications.@@@@1@29@@oe@2-2-2013
20258010@unknown@formal@none@1@S@"This clearly demonstrates that Mips is a systems company rather than just a chip company," said Mips Vice President John Hime.@@@@1@21@@oe@2-2-2013
20258011@unknown@formal@none@1@S@The Control Data deal is a boon for Mips because it gives the the five-year-old company one more ally as it battles more established electronic concerns such as Sun, Hewlett-Packard Co., Motorola Inc. and Intel Corp. for the emerging market for RISC machines.@@@@1@43@@oe@2-2-2013
20258012@unknown@formal@none@1@S@RISC technology speeds up a computer by simplifying the internal software.@@@@1@11@@oe@2-2-2013
20258013@unknown@formal@none@1@S@For Mips, which expects revenue of $100 million this year, big-name allies such as Control Data are essential to attract software developers to the company's RISC architecture.@@@@1@27@@oe@2-2-2013
20258014@unknown@formal@none@1@S@"The thing it says about Mips is that they're on a roll right now," said Ms. Gant at InfoCorp.@@@@1@19@@oe@2-2-2013
20258015@unknown@formal@none@1@S@"They're getting some major wins," she added.@@@@1@7@@oe@2-2-2013
20258016@unknown@formal@none@1@S@Last month, for example, Mips agreed to supply its computers to Nixdorf Computer AG of West Germany and France's Groupe Bull.@@@@1@21@@oe@2-2-2013
20258017@unknown@formal@none@1@S@Sony Corp., Tandem Computers Inc. and Digital Equipment have agreed to sell MIPS computers and companies such as Japan's NEC Corp. and West Germany's Siemens A.G. have agreed to make Mips chips under license.@@@@1@34@@oe@2-2-2013
20258018@unknown@formal@none@1@S@Today's agreement gives Control Data a machine to compete against Digital and other general-purpose computer makers, said John Logan, a computer-market analyst at Aberdeen Group Inc. of Boston.@@@@1@28@@oe@2-2-2013
20258019@unknown@formal@none@1@S@The machine is essentially a mainframe computer, he said.@@@@1@9@@oe@2-2-2013
20258020@unknown@formal@none@1@S@"Suddenly CDC (Control Data) has a competitive product to fight back against the VAX9000," a machine Digital announced last month, he added.@@@@1@22@@oe@2-2-2013
20258021@unknown@formal@none@1@S@Control Data, based in Minneapolis, Minn., expects its sales of Mips systems, including the new RC6280, to amount to more than $100 million by the end of 1991, Mips said.@@@@1@30@@oe@2-2-2013
20258022@unknown@formal@none@1@S@Nixdorf, Bull and others will also sell versions of the machine, said Mips President Robert Miller.@@@@1@16@@oe@2-2-2013
20258023@unknown@formal@none@1@S@Mips will start shipping its new machine in the first quarter of 1990, he said.@@@@1@15@@oe@2-2-2013
20258024@unknown@formal@none@1@S@The machine uses a single processor, which makes it easier to program than competing machines using several processors.@@@@1@18@@oe@2-2-2013
20258025@unknown@formal@none@1@S@The computer can process 13.3 million calculations called floating-point operations every second.@@@@1@12@@oe@2-2-2013
20258026@unknown@formal@none@1@S@The machine can run software written for other Mips computers, the company said.@@@@1@13@@oe@2-2-2013
20259001@unknown@formal@none@1@S@Another fight is brewing between Congress and the Bush administration over how to pay for the savings-and-loan bailout without adding to the federal budget deficit.@@@@1@25@@oe@2-2-2013
20259002@unknown@formal@none@1@S@In a hearing before the House Ways and Means Committee, the General Accounting Office and the Congressional Budget Office, which both are arms of Congress, advised the new S&L bailout agency to abandon plans to raise temporary working capital through debt issued from an agency that wouldn't be counted on the federal budget.@@@@1@53@@oe@2-2-2013
20259003@unknown@formal@none@1@S@Officials of the Resolution Trust Corp. have said privately that such a plan was the most likely alternative to raise short-term cash for the bailout.@@@@1@25@@oe@2-2-2013
20259004@unknown@formal@none@1@S@Instead, the GAO and the Congressional Budget Office said, the RTC should consider using Treasury debt, which is less expensive and subject to oversight by Congress.@@@@1@26@@oe@2-2-2013
20259005@unknown@formal@none@1@S@The spending could be exempted from meeting deficit-reduction targets in the Gramm-Rudman budget law.@@@@1@14@@oe@2-2-2013
20259006@unknown@formal@none@1@S@The RTC has projected that it will require between $50 billion to $100 billion in temporary working capital.@@@@1@18@@oe@2-2-2013
20259007@unknown@formal@none@1@S@The borrowing to raise these funds would be paid off as assets of sick thrifts are sold.@@@@1@17@@oe@2-2-2013
20259008@unknown@formal@none@1@S@The new S&L law allows the RTC to issue notes for as much as 85% of the value of the assets it holds.@@@@1@23@@oe@2-2-2013
20259009@unknown@formal@none@1@S@But higher interest rates paid on off-budget debt could add billions to the bailout costs, and wouldn't be subject to congressional scrutiny, Ways and Means members argued.@@@@1@27@@oe@2-2-2013
20259010@unknown@formal@none@1@S@"To allow this massive level of unfettered federal borrowing without prior congressional approval would be irresponsible," said Rep. Fortney Stark (D., Calif.), who has introduced a bill to limit the RTC's authority to issue debt.@@@@1@35@@oe@2-2-2013
20259011@unknown@formal@none@1@S@The RTC will have to sell or merge hundreds of insolvent thrifts over the next three years.@@@@1@17@@oe@2-2-2013
20259012@unknown@formal@none@1@S@The new S&L bailout law allows $50 billion to be spent to sell or merge sick S&Ls and their assets, but that is a net cost.@@@@1@26@@oe@2-2-2013
20259013@unknown@formal@none@1@S@In the meantime, the agency must raise cash to maintain assets, such as real estate, until they can be sold.@@@@1@20@@oe@2-2-2013
20259014@unknown@formal@none@1@S@Then the short-term debt is paid off through the proceeds of selling the assets.@@@@1@14@@oe@2-2-2013
20259015@unknown@formal@none@1@S@David Mullins, assistant secretary of the Treasury, said that the working capital is necessary to reduce the final costs of the bailout, by allowing the agency to sell savings and loans without their bad assets, then hold the assets until they can be sold under favorable conditions.@@@@1@47@@oe@2-2-2013
20259016@unknown@formal@none@1@S@He said it hasn't yet been determined how the RTC will raise the cash, but the administration doesn't want it to be included on the federal budget, because it would "distort" the budget process by requiring either exemptions from Gramm-Rudman or big increases in the budget deficit.@@@@1@47@@oe@2-2-2013
20259017@unknown@formal@none@1@S@But the worst possibility would be raising no working capital, he said.@@@@1@12@@oe@2-2-2013
20259018@unknown@formal@none@1@S@"If working capital financing is not provided," he said, "the RTC may have to slow {S&L sales} or dump acquired assets through fire sales.@@@@1@24@@oe@2-2-2013
20260001@unknown@formal@none@1@S@Panhandle Eastern Corp. said it applied, on behalf of two of its subsidiaries, to the Federal Energy Regulatory Commission for permission to build a 352-mile, $273 million pipeline system from Pittsburg County, Okla., to Independence, Miss.@@@@1@36@@oe@2-2-2013
20260002@unknown@formal@none@1@S@The natural gas pipeline concern said the 500 million cubic feet a day capacity pipeline would be built by a proposed joint venture between two Panhandle Eastern units-Texas Eastern Transmission Corp. and Trunkline Gas Co.@@@@1@35@@oe@2-2-2013
20260003@unknown@formal@none@1@S@Texas Eastern Transmission will build and operate the system, which will connect the Arkoma Basin with several interstate pipelines.@@@@1@19@@oe@2-2-2013
20261001@unknown@formal@none@1@S@Now was that a quarter cup or a half cup?@@@@1@10@@oe@2-2-2013
20261002@unknown@formal@none@1@S@Not a gripping question, unless you're the pastry chef of this city's Chez Panisse restaurant and you've just lost your priceless personal dessert notebook.@@@@1@24@@oe@2-2-2013
20261003@unknown@formal@none@1@S@Chez Panisse was listed among the top 30 restaurants in the world this year by Connoisseur magazine.@@@@1@17@@oe@2-2-2013
20261004@unknown@formal@none@1@S@The tattered black binder, bulging with 18 years' worth of recipes held together by rubber bands, was in chef Lindsey Shere's purse when it was stolen from her house recently.@@@@1@30@@oe@2-2-2013
20261005@unknown@formal@none@1@S@The Berkeley police don't have any leads but doubt the crime was driven by a passion for sweets.@@@@1@18@@oe@2-2-2013
20261006@unknown@formal@none@1@S@Instead, they figure the culprit probably took money from Ms. Shere's wallet and discarded all the tips in the five-by-eight-inch looseleaf.@@@@1@21@@oe@2-2-2013
20261007@unknown@formal@none@1@S@Chez Panisse, whose founder, Alice Waters, is considered the inventor of the cooking style known as California cuisine and whose patrons make reservations a month in advance, hasn't exactly subjected diners to vanilla ice cream because of the theft.@@@@1@39@@oe@2-2-2013
20261008@unknown@formal@none@1@S@For one thing, Ms. Shere can draw on her cookbook, published by Random House four years ago, which is teeming with recipes for such specialties as kiwi sherbet, gooseberry fool (a creamy dish made with crushed stewed berries) and hazelnut "oeufs a la neige."@@@@1@44@@oe@2-2-2013
20261009@unknown@formal@none@1@S@For another, sympathetic fans have sent Ms. Shere copies of her recipes clipped from magazines over the years.@@@@1@18@@oe@2-2-2013
20261010@unknown@formal@none@1@S@Still, the restaurant's ever-changing menu of five-course dinners -- it supposedly hasn't repeated a meal since opening in 1971 -- requires constant improvisation.@@@@1@23@@oe@2-2-2013
20261011@unknown@formal@none@1@S@And that puts added pressure on Chez Panisse dessert-menu planners.@@@@1@10@@oe@2-2-2013
20261012@unknown@formal@none@1@S@"We make what we know how to make," says business manager Richard Mazzera.@@@@1@13@@oe@2-2-2013
20261013@unknown@formal@none@1@S@Many in the Bay Area's pastry community express disbelief that Ms. Shere kept only one copy of such valuable notes, but she has received moral support from Baker's Dozen, a group of California pastry chefs that meets regularly to discuss issues like how to keep meringues from weeping and how bovine eating habits affect butter texture.@@@@1@56@@oe@2-2-2013
20261014@unknown@formal@none@1@S@Ms. Shere has offered a $500 reward for the book's return but figures she'll have to reinvent many recipes from scratch.@@@@1@21@@oe@2-2-2013
20261015@unknown@formal@none@1@S@"It's an overwhelming job," she says.@@@@1@6@@oe@2-2-2013
20261016@unknown@formal@none@1@S@"There are so many possible proportions when you consider how many things are made out of eggs and butter and milk.@@@@1@21@@oe@2-2-2013
20262001@unknown@formal@none@1@S@Newport Electronics Inc. named a new slate of officers, a move that follows replacement of the company's five incumbent directors last week.@@@@1@22@@oe@2-2-2013
20262002@unknown@formal@none@1@S@Milton B. Hollander, 60 years old, was named chief executive officer, succeeding Barrett B. Weekes.@@@@1@15@@oe@2-2-2013
20262003@unknown@formal@none@1@S@Mr. Hollander's Stamford, Conn.-based High Technology Holding Co. acquired most of its 49.4% stake in Newport in August.@@@@1@18@@oe@2-2-2013
20262004@unknown@formal@none@1@S@Mr. Hollander was named chairman last week, succeeding Mr. Weekes, who was among the ousted directors.@@@@1@16@@oe@2-2-2013
20262005@unknown@formal@none@1@S@The company has declined requests to discuss the changes, but Mr. Weekes has said that Mr. Hollander wanted to have his own team.@@@@1@23@@oe@2-2-2013
20262006@unknown@formal@none@1@S@Scott Wakeman was named president and chief operating officer of U.S. operations, titles that had been held by Mr. Weekes.@@@@1@20@@oe@2-2-2013
20262007@unknown@formal@none@1@S@Mr. Wakeman was vice president of the instrument and controls division of closely held Omega Engineering Inc., another company controlled by Mr. Hollander.@@@@1@23@@oe@2-2-2013
20262008@unknown@formal@none@1@S@A company spokesman didn't know Mr. Wakeman's age.@@@@1@8@@oe@2-2-2013
20262009@unknown@formal@none@1@S@James R. Lees, 51, vice president of Newport's European operations, was named executive vice president and chief operating officer of European operations, assuming some former duties of Mr. Weekes.@@@@1@29@@oe@2-2-2013
20262010@unknown@formal@none@1@S@Arthur B. Crozier, 34, an attorney, was named secretary, succeeding John Virtue, who was another of the ousted directors.@@@@1@19@@oe@2-2-2013
20263001@unknown@formal@none@1@S@UNIFIRST Corp. declared a 2-for-1 stock split.@@@@1@7@@oe@2-2-2013
20263002@unknown@formal@none@1@S@The Wilmington, Mass., garment service company also boosted its quarterly dividend 20% to three cents a share adjusted for the split.@@@@1@21@@oe@2-2-2013
20263003@unknown@formal@none@1@S@The dividend had been five cents a share.@@@@1@8@@oe@2-2-2013
20263004@unknown@formal@none@1@S@The split and quarterly dividend will be payable Jan. 3 to stock of record Nov. 16, the company said.@@@@1@19@@oe@2-2-2013
20263005@unknown@formal@none@1@S@The split will raise the number of shares outstanding to about 10.2 million.@@@@1@13@@oe@2-2-2013
20263006@unknown@formal@none@1@S@Separately, UniFirst reported that net income rose 21% to $3 million, or 29 cents a share adjusted for the split, for the fourth quarter ended Aug. 26.@@@@1@27@@oe@2-2-2013
20263007@unknown@formal@none@1@S@A year earlier UniFirst earned $2.4 million, or 24 cents a share adjusted for the split.@@@@1@16@@oe@2-2-2013
20263008@unknown@formal@none@1@S@Sales rose to $52.4 million from $50.1 million.@@@@1@8@@oe@2-2-2013
20264001@unknown@formal@none@1@S@Fibreboard Corp. said it completed the previously reported sale of approximately 27,500 acres of timberland near Truckee, Calif., to closely held Sierra Pacific Industries Corp., Arcata, Calif., for $32.5 million.@@@@1@30@@oe@2-2-2013
20264002@unknown@formal@none@1@S@The lumber, insulation and fireproofing concern said the transaction, which includes a swap of other timber interests, would result in a $13.5 million after-tax gain, to be recorded in the fourth quarter.@@@@1@32@@oe@2-2-2013
20265001@unknown@formal@none@1@S@Healthcare International Inc. said it reached a 120-day standstill agreement with its HealthVest affiliate calling for Healthcare to pay HealthVest $5 million right away and additional amounts in the future.@@@@1@30@@oe@2-2-2013
20265002@unknown@formal@none@1@S@Under the agreement, Healthcare, a manager of health-care facilities, said it would pay HealthVest $3.9 million in overdue rent and mortgage payments and repay $1.1 million in funds that HealthVest advanced for construction work on facilities.@@@@1@36@@oe@2-2-2013
20265003@unknown@formal@none@1@S@In return, HealthVest agreed that it won't exercise its rights and remedies against Healthcare during the 120-day period.@@@@1@18@@oe@2-2-2013
20265004@unknown@formal@none@1@S@After the payment, Healthcare still will be $6.5 million in arrears on rent and mortgage payments to HealthVest, a real estate investment trust whose portfolio consists largely of properties operated by Healthcare.@@@@1@32@@oe@2-2-2013
20265005@unknown@formal@none@1@S@Healthcare has given HealthVest a 12% note for that overdue amount, to be repaid over three years.@@@@1@17@@oe@2-2-2013
20265006@unknown@formal@none@1@S@In addition, Healthcare agreed to make monthly rent and mortgage payments of $2.7 million to $3 million to HealthVest during the standstill period, to be paid when Healthcare successfully completes asset sales.@@@@1@32@@oe@2-2-2013
20265007@unknown@formal@none@1@S@Because Healthcare actually owes HealthVest $4.2 million in rent and mortgage payments each month, the amount due above the amount paid will be added to the three-year note.@@@@1@28@@oe@2-2-2013
20265008@unknown@formal@none@1@S@The funds should help ease a cash bind at HealthVest, which has been unable to pay its debts because Healthcare hasn't made complete rent and mortgage payments since July.@@@@1@29@@oe@2-2-2013
20265009@unknown@formal@none@1@S@A spokesman said HealthVest has paid two of the three banks it owed interest to in October and is in negotiations with the third bank.@@@@1@25@@oe@2-2-2013
20265010@unknown@formal@none@1@S@Healthcare, which has been in a severe liquidity bind, said it is able to make the payments because it completed a transaction with Greenery Rehabilitation Group Inc. in which Greenery purchased stock and warrants for $500,000 and loaned Healthcare $9 million.@@@@1@41@@oe@2-2-2013
20265011@unknown@formal@none@1@S@The loan is backed by Healthcare's 5.4% stake in HealthVest and interest in certain facilities.@@@@1@15@@oe@2-2-2013
20266001@unknown@formal@none@1@S@I was pleased to note that your Oct. 23 Centennial Journal item recognized the money-fund concept as one of the significant events of the past century.@@@@1@26@@oe@2-2-2013
20266002@unknown@formal@none@1@S@Actually, about two years ago, the Journal listed the creation of the money fund as one of the 10 most significant events in the world of finance in the 20th century.@@@@1@31@@oe@2-2-2013
20266003@unknown@formal@none@1@S@But the Reserve Fund, America's first money fund, was not named, nor were the creators of the money-fund concept, Harry Brown and myself.@@@@1@23@@oe@2-2-2013
20266004@unknown@formal@none@1@S@We innovated telephone redemptions, daily dividends, total elimination of share certificates and the constant $1 pershare pricing, all of which were painfully thought out and not the result of some inadvertence on the part of the SEC.@@@@1@37@@oe@2-2-2013
20266005@unknown@formal@none@1@S@President@@@@1@1@@oe@2-2-2013
20266006@unknown@formal@none@1@S@The Reserve Fund@@@@1@3@@oe@2-2-2013
20267001@unknown@formal@none@1@S@The crowning moment in the career of Joseph F. O'Kicki came as 300 local and state dignitaries packed into his elegant, marble-columned courtroom here last year for his swearing in as President Judge of Cambria County.@@@@1@36@@oe@2-2-2013
20267002@unknown@formal@none@1@S@Baskets of roses and potted palms adorned his bench.@@@@1@9@@oe@2-2-2013
20267003@unknown@formal@none@1@S@The local American Legion color guard led the way.@@@@1@9@@oe@2-2-2013
20267004@unknown@formal@none@1@S@As the judge marched down the center aisle in his flowing black robe, he was heralded by a trumpet fanfare.@@@@1@20@@oe@2-2-2013
20267005@unknown@formal@none@1@S@To many, it was a ceremony more befitting a king than a rural judge seated in the isolated foothills of the southern Allegheny Mountains.@@@@1@24@@oe@2-2-2013
20267006@unknown@formal@none@1@S@But then Judge O'Kicki often behaved like a man who would be king -- and, some say, an arrogant and abusive one.@@@@1@22@@oe@2-2-2013
20267007@unknown@formal@none@1@S@While his case may be extreme, it reflects the vulnerability of many small communities to domineering judges.@@@@1@17@@oe@2-2-2013
20267008@unknown@formal@none@1@S@Last March, nine months after the judge's swearing-in, the state attorney general's office indicted him on a sweeping array of charges alleging more than 10 years of "official oppression" in Cambria County, a depressed steel and mining community in western Pennsylvania.@@@@1@41@@oe@2-2-2013
20267009@unknown@formal@none@1@S@The allegations, ranging from theft and bribery to coercion and lewdness, paint a disquieting picture.@@@@1@15@@oe@2-2-2013
20267010@unknown@formal@none@1@S@According to testimony in a public, 80-page grand-jury report handed up to the state attorney general, Judge O'Kicki extorted cash from lawyers, muscled favorable loans from banks and bullied local businesses for more than a decade.@@@@1@36@@oe@2-2-2013
20267011@unknown@formal@none@1@S@Prosecutors, in an indictment based on the grand jury's report, maintain that at various times since 1975, he owned a secret and illegal interest in a beer distributorship; plotted hidden ownership interests in real estate that presented an alleged conflict of interest; set up a dummy corporation to buy a car and obtain insurance for his former girlfriend (now his second wife); and maintained 54 accounts in six banks in Cambria County.@@@@1@72@@oe@2-2-2013
20267012@unknown@formal@none@1@S@In testimony recorded in the grand jury report, court employees said the judge, now 59 years old, harassed his secretaries, made imperial demands on his staff and hounded anyone who crossed him.@@@@1@32@@oe@2-2-2013
20267013@unknown@formal@none@1@S@Bailiffs claimed they were required to chauffeur him to and from work, mow his lawn, chop his wood, fix his car and even drop by his house to feed his two grown mutts, Dixie and Husky.@@@@1@36@@oe@2-2-2013
20267014@unknown@formal@none@1@S@One former bailiff charged that the judge double-crossed him by reneging on a promise of a better paying job after pocketing a $500 bribe.@@@@1@24@@oe@2-2-2013
20267015@unknown@formal@none@1@S@Some of the allegations are simply bizarre.@@@@1@7@@oe@2-2-2013
20267016@unknown@formal@none@1@S@Two former secretaries told the grand jury they were summoned to the judge's chambers on separate occasions to take dictation, only to find the judge in his bikini underwear.@@@@1@29@@oe@2-2-2013
20267017@unknown@formal@none@1@S@One secretary testified that the judge once called her to his office while wearing nothing at all.@@@@1@17@@oe@2-2-2013
20267018@unknown@formal@none@1@S@The judge, suspended from his bench pending his trial, which began this week, vehemently denies all the allegations against him, calling them "ludicrous" and "imaginative, political demagoguery."@@@@1@27@@oe@2-2-2013
20267019@unknown@formal@none@1@S@He blames the indictment on local political feuding, unhappiness with his aggressive efforts to clear the courthouse's docket and a vendetta by state investigators and prosecutors angered by some of his rulings against them.@@@@1@34@@oe@2-2-2013
20267020@unknown@formal@none@1@S@"I don't know whose toes I've stepped on," says the judge.@@@@1@11@@oe@2-2-2013
20267021@unknown@formal@none@1@S@"I'll find out, eventually, who pushed the state police buttons into action."@@@@1@12@@oe@2-2-2013
20267022@unknown@formal@none@1@S@Even if only some of the allegations stand up, however, they provide ample testimony to the awesome power of judges in rural communities.@@@@1@23@@oe@2-2-2013
20267023@unknown@formal@none@1@S@That power can sometimes be abused, particularly since jurists in smaller jurisdictions operate without many of the restraints that serve as corrective measures in urban areas.@@@@1@26@@oe@2-2-2013
20267024@unknown@formal@none@1@S@Lawyers and their clients who frequently bring business to a country courthouse can expect to appear before the same judge year after year.@@@@1@23@@oe@2-2-2013
20267025@unknown@formal@none@1@S@Fear of alienating that judge is pervasive, says Maurice Geiger, founder and director of the Rural Justice Center in Montpelier, Vt., a public interest group that researches rural justice issues.@@@@1@30@@oe@2-2-2013
20267026@unknown@formal@none@1@S@As a result, says Mr. Geiger, lawyers think twice before appealing a judge's ruling, are reluctant to mount, or even support, challenges against him for re-election and are usually loath to file complaints that might impugn a judge's integrity.@@@@1@39@@oe@2-2-2013
20267027@unknown@formal@none@1@S@Judge O'Kicki, a stern and forbidding-looking man, has been a fixture in the local legal community for more than two decades.@@@@1@21@@oe@2-2-2013
20267028@unknown@formal@none@1@S@The son of an immigrant stonemason of Slovenian descent, he was raised in a small borough outside Ebensburg, the Cambria County seat, and put himself through the University of Pittsburgh Law School.@@@@1@32@@oe@2-2-2013
20267029@unknown@formal@none@1@S@He graduated near the top of his class, serving on the school law review with Richard Thornburgh, who went on to become governor of Pennsylvania and, now, U.S. Attorney General.@@@@1@30@@oe@2-2-2013
20267030@unknown@formal@none@1@S@It was also in law school that Mr. O'Kicki and his first wife had the first of seven daughters.@@@@1@19@@oe@2-2-2013
20267031@unknown@formal@none@1@S@He divorced his first wife three years ago and married the daughter of his court clerk.@@@@1@16@@oe@2-2-2013
20267032@unknown@formal@none@1@S@Last year, Pennsylvania Supreme Court Justice John P. Flaherty called Mr. O'Kicki one of the finest judges "not only in Pennsylvania but in the United States."@@@@1@26@@oe@2-2-2013
20267033@unknown@formal@none@1@S@Clearly, the judge has had his share of accomplishments.@@@@1@9@@oe@2-2-2013
20267034@unknown@formal@none@1@S@After practicing law locally, he was elected to his first 10-year term as judge in 1971; in 1981, he was effectively re-elected.@@@@1@22@@oe@2-2-2013
20267035@unknown@formal@none@1@S@Six years ago, Judge O'Kicki was voted president of the Pennsylvania Conference of State Trial Judges by the state's 400 judges.@@@@1@21@@oe@2-2-2013
20267036@unknown@formal@none@1@S@He has been considered several times for appointments to federal district and appellate court vacancies in Pennsylvania.@@@@1@17@@oe@2-2-2013
20267037@unknown@formal@none@1@S@And when he ran unsuccessfully for a state appellate court seat in 1983, the Pennsylvania Bar Association rated him "one of the best available," after interviewing local lawyers.@@@@1@28@@oe@2-2-2013
20267038@unknown@formal@none@1@S@"He probably was the smartest guy who ever sat on our bench," says a former president of Cambria County's 150-member bar association, who, like most lawyers in Cambria County, refuses to talk about the judge publicly.@@@@1@36@@oe@2-2-2013
20267039@unknown@formal@none@1@S@"He's sharp as a tack.@@@@1@5@@oe@2-2-2013
20267040@unknown@formal@none@1@S@He could grasp an issue with the blink of an eye."@@@@1@11@@oe@2-2-2013
20267041@unknown@formal@none@1@S@For more than a decade, virtually no one complained about Judge O'Kicki.@@@@1@12@@oe@2-2-2013
20267042@unknown@formal@none@1@S@"What about those institutions that are supposed to be the bedrock of society, the banks and the bar association. . . ?" wrote a columnist for the Tribune-Democrat, a newspaper in nearby Johnstown, shortly after the scandal became public.@@@@1@39@@oe@2-2-2013
20267043@unknown@formal@none@1@S@"If only a banker or a lawyer had spoken out years ago, the judicial process wouldn't be under the taint it is today."@@@@1@23@@oe@2-2-2013
20267044@unknown@formal@none@1@S@Officials with the Pennsylvania Judicial Inquiry and Review Board, the arm of the state that investigates judicial misconduct, counter that they had no inkling of anything amiss in Ebensburg.@@@@1@29@@oe@2-2-2013
20267045@unknown@formal@none@1@S@"Nobody told us; nobody called us," says an official close to the case who asked not to be named.@@@@1@19@@oe@2-2-2013
20267046@unknown@formal@none@1@S@"Nobody had the guts to complain."@@@@1@6@@oe@2-2-2013
20267047@unknown@formal@none@1@S@Certainly not the lawyers.@@@@1@4@@oe@2-2-2013
20267048@unknown@formal@none@1@S@Johnstown attorney Richard J. Green Jr. shelled out $500 in loans to the judge over five years, he said in testimony to the grand jury.@@@@1@25@@oe@2-2-2013
20267049@unknown@formal@none@1@S@"The judge never made a pretense of repaying the money," said Mr. Green.@@@@1@13@@oe@2-2-2013
20267050@unknown@formal@none@1@S@Eventually, Mr. Green testified, he began ducking out of his office rather than face the judge when he visited.@@@@1@19@@oe@2-2-2013
20267051@unknown@formal@none@1@S@When Mr. Green won a $240,000 verdict in a land condemnation case against the state in June 1983, he says Judge O'Kicki unexpectedly awarded him an additional $100,000.@@@@1@28@@oe@2-2-2013
20267052@unknown@formal@none@1@S@Mr. Green thought little of it, he told the grand jury, until the judge walked up to him after the courtroom had cleared and suggested a kickback.@@@@1@27@@oe@2-2-2013
20267053@unknown@formal@none@1@S@"Don't you think I ought to get a commission . . . or part of your fee in this case?" Mr. Green said the judge asked him.@@@@1@27@@oe@2-2-2013
20267054@unknown@formal@none@1@S@Appalled, Mr. Green never paid the money, he testified.@@@@1@9@@oe@2-2-2013
20267055@unknown@formal@none@1@S@But he didn't complain to the state's Judicial Inquiry and Review Board, either, saying later that he feared retribution.@@@@1@19@@oe@2-2-2013
20267056@unknown@formal@none@1@S@Mr. O'Kicki said he will respond to Mr. Green's allegation at his trial.@@@@1@13@@oe@2-2-2013
20267057@unknown@formal@none@1@S@Like most of Cambria County's lawyers and residents who had dealings with the judge, Mr. Green declined to be interviewed for this article.@@@@1@23@@oe@2-2-2013
20267058@unknown@formal@none@1@S@And no one with a complaint about the judge would allow his name to be printed.@@@@1@16@@oe@2-2-2013
20267059@unknown@formal@none@1@S@"I don't have anything much to say, and I think that's what you're going to find from everyone else you talk to up here," says local attorney Edward F. Peduzzi.@@@@1@30@@oe@2-2-2013
20267060@unknown@formal@none@1@S@Says another lawyer: "The practice of law is a matter of biting one's lip when you live in a small community.@@@@1@21@@oe@2-2-2013
20267061@unknown@formal@none@1@S@One had best not dance on top of a coffin until the lid is sealed tightly shut."@@@@1@17@@oe@2-2-2013
20267062@unknown@formal@none@1@S@The judge was considered imperious, abrasive and ambitious, those who practiced before him say.@@@@1@14@@oe@2-2-2013
20267063@unknown@formal@none@1@S@He sipped tea sweetened with honey from his high-backed leather chair at his bench, while scribbling notes ordering spectators to stop whispering or to take off their hats in his courtroom.@@@@1@31@@oe@2-2-2013
20267064@unknown@formal@none@1@S@Four years ago, he jailed all nine members of the Cambria County School Board for several hours after they defied his order to extend the school year by several weeks to make up for time lost during a teachers' strike.@@@@1@40@@oe@2-2-2013
20267065@unknown@formal@none@1@S@Visitors in his chambers say he could cite precisely the years, months, weeks and days remaining until mandatory retirement would force aside the presiding president judge, giving Judge O'Kicki the seniority required to take over as the county's top court administrator.@@@@1@41@@oe@2-2-2013
20267066@unknown@formal@none@1@S@The judge, they say, was fiercely proud of his abilities and accomplishments.@@@@1@12@@oe@2-2-2013
20267067@unknown@formal@none@1@S@"My name is judge," Judge O'Kicki told a car salesman in Ebensburg when he bought a new red Pontiac Sunbird in October 1984, according to the grand-jury report.@@@@1@28@@oe@2-2-2013
20267068@unknown@formal@none@1@S@The dealership dutifully recorded the sale under the name "Judge O'Kicki."@@@@1@11@@oe@2-2-2013
20267069@unknown@formal@none@1@S@Yet, despite the judge's imperial bearing, no one ever had reason to suspect possible wrongdoing, says John Bognato, president of Cambria County's 150-member bar association.@@@@1@25@@oe@2-2-2013
20267070@unknown@formal@none@1@S@"The arrogance of a judge, his demeanor, the way he handles people are not a basis for filing a complaint," says Mr. Bognato.@@@@1@23@@oe@2-2-2013
20267071@unknown@formal@none@1@S@"Until this came up and hit the press, there was never any indication that he was doing anything wrong."@@@@1@19@@oe@2-2-2013
20267072@unknown@formal@none@1@S@State investigators dispute that view now, particularly in light of the judge's various business dealings in Cambria County.@@@@1@18@@oe@2-2-2013
20267073@unknown@formal@none@1@S@The judge came under scrutiny in late 1987, after the state attorney general's office launched an unrelated investigation into corruption in Cambria County.@@@@1@23@@oe@2-2-2013
20267074@unknown@formal@none@1@S@The inquiry soon focused on the judge.@@@@1@7@@oe@2-2-2013
20267075@unknown@formal@none@1@S@Even his routine business transactions caused trouble, according to the grand jury report.@@@@1@13@@oe@2-2-2013
20267076@unknown@formal@none@1@S@When the judge bought his new Sunbird from James E. Black Pontiac-Cadillac in Ebensburg five years ago, the dealership had "certain apprehensions" about the judge's reputation, according to the grand-jury report.@@@@1@31@@oe@2-2-2013
20267077@unknown@formal@none@1@S@The dealership took the extra step of having all the paper work for the transaction pre-approved by Ebensburg's local lender, Laurel Bank.@@@@1@22@@oe@2-2-2013
20267078@unknown@formal@none@1@S@Then, as an additional precaution, the car dealership took the judge's photograph as he stood next to his new car with sales papers in hand -- proof that he had received the loan documents.@@@@1@34@@oe@2-2-2013
20267079@unknown@formal@none@1@S@But when the judge received his payment book, he disavowed the deal.@@@@1@12@@oe@2-2-2013
20267080@unknown@formal@none@1@S@"There was no loan, there is no loan, there never shall be a loan," the judge wrote the bank on his judicial stationery, according to the report.@@@@1@27@@oe@2-2-2013
20267081@unknown@formal@none@1@S@Later, the judge went a step farther.@@@@1@7@@oe@2-2-2013
20267082@unknown@formal@none@1@S@After Laurel Bank tried to repossess the car, a vice president asked him to intervene in an unrelated legal dispute involving a trust account.@@@@1@24@@oe@2-2-2013
20267083@unknown@formal@none@1@S@The judge wrote again.@@@@1@4@@oe@2-2-2013
20267084@unknown@formal@none@1@S@"I find myself in an adversary relationship with Laurel Bank, and I am not inclined to extend myself as far as any favors are concerned," the judge wrote back in a letter attached to the grand jury's report.@@@@1@38@@oe@2-2-2013
20267085@unknown@formal@none@1@S@"Perhaps if my personal matters can be resolved with Laurel bank in the near future, I may be inclined to reconsider your request. . . ."@@@@1@26@@oe@2-2-2013
20267086@unknown@formal@none@1@S@The judge now says it was "unfortunate" that he chose to write the letter but says "there was certainly no intent to extort there."@@@@1@24@@oe@2-2-2013
20267087@unknown@formal@none@1@S@The bank acquiesced.@@@@1@3@@oe@2-2-2013
20267088@unknown@formal@none@1@S@It refinanced the judge's loan, lowered its interest rate and accepted a trade-in that hadn't originally been part of the deal -- a beat up 1981 Chevy Citation the dealer had to repair before it could be resold.@@@@1@38@@oe@2-2-2013
20267089@unknown@formal@none@1@S@The incident wasn't the only time the judge got special treatment from his local bank.@@@@1@15@@oe@2-2-2013
20267090@unknown@formal@none@1@S@Two years later, he wrote to complain that the interest he was paying on an unsecured $10,000 loan was "absolutely onerous."@@@@1@21@@oe@2-2-2013
20267091@unknown@formal@none@1@S@Paul L. Kane, Laurel's president at the time, quickly responded.@@@@1@10@@oe@2-2-2013
20267092@unknown@formal@none@1@S@The bank, he wrote back, was "immediately" lowering the rate by 3.5%, "as a concession to you."@@@@1@17@@oe@2-2-2013
20267093@unknown@formal@none@1@S@The judge says he can't discuss in detail how he will defend himself at his trial, although he contends that if he were as corrupt as state prosecutors believe, he would be far wealthier than he is.@@@@1@37@@oe@2-2-2013
20267094@unknown@formal@none@1@S@His seven-bedroom cedar and brick house outside of Johnstown is up for sale to pay for his lawyers.@@@@1@18@@oe@2-2-2013
20267095@unknown@formal@none@1@S@The judge says he is confident he will return to his old bench.@@@@1@13@@oe@2-2-2013
20267096@unknown@formal@none@1@S@Already, he notes, the 76 charges originally filed against him have been trimmed to 27.@@@@1@15@@oe@2-2-2013
20267097@unknown@formal@none@1@S@Most of the allegations no longer pending were ethics charges withdrawn by state prosecutors as part of a pre-trial agreement.@@@@1@20@@oe@2-2-2013
20267098@unknown@formal@none@1@S@The heart of the case -- "official oppression" -- remains intact.@@@@1@11@@oe@2-2-2013
20267099@unknown@formal@none@1@S@"If I lose, I lose my position, my career, my pension, my home and my investments," says the judge.@@@@1@19@@oe@2-2-2013
20267100@unknown@formal@none@1@S@"My God and I know I am correct and innocent.@@@@1@10@@oe@2-2-2013
20268001@unknown@formal@none@1@S@Many thanks for Alexander Cockburn's comic masterpiece ("U.S. Economy: A House Built on Junk-Bond Sand," Viewpoint, Oct. 19).@@@@1@18@@oe@2-2-2013
20268002@unknown@formal@none@1@S@The use of the abominable construction practices in the Soviet Union -- as evidenced by the collapse of sand apartment blocks during the Armenian earthquake -- as a metaphor for the U.S. economic system was a sublime example of Mr. Cockburn's satirical muse.@@@@1@43@@oe@2-2-2013
20268003@unknown@formal@none@1@S@I await his sequel: the economic and social resiliency of the San Francisco Bay area and the outstanding work of the local governments and the private charitable organizations there as metaphors for the supremacy of whatever failed system Mr. Cockburn now believes in.@@@@1@43@@oe@2-2-2013
20268004@unknown@formal@none@1@S@It should be a scream.@@@@1@5@@oe@2-2-2013
20268005@unknown@formal@none@1@S@William S. Smith@@@@1@3@@oe@2-2-2013
20269001@unknown@formal@none@1@S@As a money manager and a grass-roots environmentalist, I was very disappointed to read in the premiere issue of Garbage that The Wall Street Journal uses 220,000 metric tons of newsprint each year, but that only 1.4% of it comes from recycled paper.@@@@1@43@@oe@2-2-2013
20269002@unknown@formal@none@1@S@By contrast, the Los Angeles Times, for example, uses 83% recycled paper.@@@@1@12@@oe@2-2-2013
20269003@unknown@formal@none@1@S@With newspapers being the largest single component of solid waste in our landfills, and with our country overflowing with trash, all sectors of our society and all types of businesses must become more responsible in our use and disposal of precious natural resources.@@@@1@43@@oe@2-2-2013
20269004@unknown@formal@none@1@S@The Wall Street Journal is an excellent publication that I enjoy reading (and must read) daily.@@@@1@16@@oe@2-2-2013
20269005@unknown@formal@none@1@S@Please make me and thousands of other readers more comfortable with our daily purchase of your newspaper by raising your environmental standards to your overall impeccable quality levels, and increase your use of recycled paper.@@@@1@35@@oe@2-2-2013
20269006@unknown@formal@none@1@S@Virginia M.W. Gardiner@@@@1@3@@oe@2-2-2013
20270001@unknown@formal@none@1@S@FIRST AMERICAN FINANCIAL Corp. declared a special dividend of one share of Class B common stock for each share of Class A common stock, payable to holders of record on Nov. 10 if the Securities and Exchange Commission approves this as the effective date of the registration statement.@@@@1@48@@oe@2-2-2013
20270002@unknown@formal@none@1@S@Shareholders of the Santa Ana, Calif., title-insurance company approved the creation of this second class of stock, which will be traded on the national over-the-counter market and which the company said would be used for acquisitions and other general corporate purposes.@@@@1@41@@oe@2-2-2013
20271001@unknown@formal@none@1@S@The following were among yesterday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
20271002@unknown@formal@none@1@S@Continental Cablevision Inc. --@@@@1@4@@oe@2-2-2013
20271003@unknown@formal@none@1@S@$350 million of senior subordinated debentures, due Nov. 1, 2004, was priced at par to yield 12 7/8%.@@@@1@18@@oe@2-2-2013
20271004@unknown@formal@none@1@S@Rated single-B-1 by Moody's Investors Service Inc. and single-B by Standard & Poor's Corp., the issue, which is non-callable for five years, will be sold through underwriters led by Morgan Stanley & Co.@@@@1@33@@oe@2-2-2013
20271005@unknown@formal@none@1@S@Beatrice Co. --@@@@1@3@@oe@2-2-2013
20271006@unknown@formal@none@1@S@$251 million of notes, due Nov. 1, 1997, was priced in a two-part offering through underwriters at Salomon Brothers Inc.@@@@1@20@@oe@2-2-2013
20271007@unknown@formal@none@1@S@The size of the issue was scaled back from an originally planned $350 million.@@@@1@14@@oe@2-2-2013
20271008@unknown@formal@none@1@S@The first part, consisting of $151 million of 13 3/4% senior subordinated reset notes, was priced at 99.75.@@@@1@18@@oe@2-2-2013
20271009@unknown@formal@none@1@S@The rate on the notes will be reset annually to give the issue a market value of 101.@@@@1@18@@oe@2-2-2013
20271010@unknown@formal@none@1@S@However, the maximum coupon at which the notes can be reset is 16 1/4%.@@@@1@14@@oe@2-2-2013
20271011@unknown@formal@none@1@S@The minimum coupon is 13 3/4%.@@@@1@6@@oe@2-2-2013
20271012@unknown@formal@none@1@S@The second part, consisting of $100 million of senior subordinated floating-rate notes, was priced at 99 3/4 to float 4.25% above the three-month London interbank offered rate.@@@@1@27@@oe@2-2-2013
20271013@unknown@formal@none@1@S@The initial coupon on the floating-rate notes will be 12.9375%.@@@@1@10@@oe@2-2-2013
20271014@unknown@formal@none@1@S@The issue is rated single-B-3 by Moody's and single-B-plus by S&P.@@@@1@11@@oe@2-2-2013
20271015@unknown@formal@none@1@S@New Jersey Wastewater Treatment Trust --@@@@1@6@@oe@2-2-2013
20271016@unknown@formal@none@1@S@$75.1 million, two-part offering of bonds apparently was won by a Merrill Lynch Capital Markets group.@@@@1@16@@oe@2-2-2013
20271017@unknown@formal@none@1@S@The group's bid for $40.9 million of wastewater treatment insured bonds, Series 1989 A, produced a 7.0826% true interest cost.@@@@1@20@@oe@2-2-2013
20271018@unknown@formal@none@1@S@The Series 1989 A bonds are insured and rated triple-A by Moody's and S&P.@@@@1@14@@oe@2-2-2013
20271019@unknown@formal@none@1@S@The group's bid for $34.2 million of wastewater treatment bonds, Series 1989 B, produced a 7.0808% true interest cost.@@@@1@19@@oe@2-2-2013
20271020@unknown@formal@none@1@S@The Series 1989 B bonds are uninsured and rated double-A by Moody's and S&P.@@@@1@14@@oe@2-2-2013
20271021@unknown@formal@none@1@S@Both the Series 1989 A and Series 1989 B bonds were priced to yield from 6% in 1991 to 7.15% in 2008-2009, according to a Merrill Lynch official.@@@@1@28@@oe@2-2-2013
20271022@unknown@formal@none@1@S@Matagorda County Navigation District No. 1, Texas --@@@@1@8@@oe@2-2-2013
20271023@unknown@formal@none@1@S@$70.3 million of pollution control revenue bonds (Houston Lighting & Power Co. Project), due Oct. 1, 2019, were tentatively priced by a Goldman, Sachs & Co. group at 98 1/4 to yield 7.649% with a coupon of 7 1/2%.@@@@1@39@@oe@2-2-2013
20271024@unknown@formal@none@1@S@Interest on the bonds will be treated as a preference item in calculating the federal alternative minimum tax that may be imposed on certain investors.@@@@1@25@@oe@2-2-2013
20271025@unknown@formal@none@1@S@The bonds are insured and rated triple-A by Moody's and S&P.@@@@1@11@@oe@2-2-2013
20271026@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. --@@@@1@6@@oe@2-2-2013
20271027@unknown@formal@none@1@S@$500 million of Remic mortgage securities is being offered in 11 classes by a Morgan Stanley group.@@@@1@17@@oe@2-2-2013
20271028@unknown@formal@none@1@S@The offering, Series 109, is backed by Freddie Mac 10% securities.@@@@1@11@@oe@2-2-2013
20271029@unknown@formal@none@1@S@Complete details weren't immediately available.@@@@1@5@@oe@2-2-2013
20271030@unknown@formal@none@1@S@Lomas Mortgage Funding Corp. II --@@@@1@6@@oe@2-2-2013
20271031@unknown@formal@none@1@S@$100 million issue of collateralized mortgage obligations is being offered in four classes by a Morgan Stanley group.@@@@1@18@@oe@2-2-2013
20271032@unknown@formal@none@1@S@The securities yield from 9.35% to 10.48% for a 30-year issue with an average life of 21.18 years.@@@@1@18@@oe@2-2-2013
20271033@unknown@formal@none@1@S@The 10.48% yield represents a spread to the 20-year Treasury of 2.45 percentage points.@@@@1@14@@oe@2-2-2013
20271034@unknown@formal@none@1@S@The collateral consists of collateralized whole loans with a weighted average coupon rate of 11.08% and weighted average remaining term to maturity of 28 years.@@@@1@25@@oe@2-2-2013
20271035@unknown@formal@none@1@S@The issue is rated triple-A by S&P, Moody's and Fitch Investors Service Inc.@@@@1@13@@oe@2-2-2013
20271036@unknown@formal@none@1@S@The issue is 6% to 7% overcollateralized, and 75% of the loans are covered by a General Electric pool policy covering losses of as much as 10% of the original principal balance of the loans.@@@@1@35@@oe@2-2-2013
20271037@unknown@formal@none@1@S@J.C. Penney Co. --@@@@1@4@@oe@2-2-2013
20271038@unknown@formal@none@1@S@$350 million of JCP Master Credit Card Trust asset-backed certificates, Series B, with a final stated maturity of Oct. 15, 2001, was priced at 99.1875 to yield 9.192% with a coupon of 8.95%.@@@@1@33@@oe@2-2-2013
20271039@unknown@formal@none@1@S@The certificates, which have an average life of 10.05 years, were priced at 1.31 percentage points over the benchmark Treasury 10-year note.@@@@1@22@@oe@2-2-2013
20271040@unknown@formal@none@1@S@Rated triple-A by Moody's and S&P, the issue will be sold through First Boston Corp.@@@@1@15@@oe@2-2-2013
20271041@unknown@formal@none@1@S@The issue is backed by a 12% letter of credit from Credit Suisse.@@@@1@13@@oe@2-2-2013
20271042@unknown@formal@none@1@S@Keio Teito Electric Railway Co. (Japan) --@@@@1@7@@oe@2-2-2013
20271043@unknown@formal@none@1@S@$300 million of bonds due Nov. 16, 1993, with equity-purchase warrants, indicating a 3 3/4% coupon at par via Nomura International Ltd.@@@@1@22@@oe@2-2-2013
20271044@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Nov. 30 through Nov. 2, 1993, to buy company shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Tuesday.@@@@1@35@@oe@2-2-2013
20271045@unknown@formal@none@1@S@Diesel Kiki Co. (Japan) --@@@@1@5@@oe@2-2-2013
20271046@unknown@formal@none@1@S@$200 million of bonds due Nov. 16, 1994, with equity-purchase warrants, indicating a 4 1/2% coupon at par via Yamaichi International Europe Ltd.@@@@1@23@@oe@2-2-2013
20271047@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Nov. 30 through Nov. 2, 1994, to buy company shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Monday.@@@@1@35@@oe@2-2-2013
20271048@unknown@formal@none@1@S@Chugoku Electric Power Co. (Japan) --@@@@1@6@@oe@2-2-2013
20271049@unknown@formal@none@1@S@$150 million of 8 7/8% bonds due Nov. 29, 1996, priced at 101 7/8 to yield 8 7/8% less full fees via Nikko Securities Ltd.@@@@1@25@@oe@2-2-2013
20271050@unknown@formal@none@1@S@Fees 1 7/8.@@@@1@3@@oe@2-2-2013
20271051@unknown@formal@none@1@S@Monte dei Paschi di Siena, Singapore branch (Italian parent), via the Law Debenture Trust Corp. --@@@@1@16@@oe@2-2-2013
20271052@unknown@formal@none@1@S@10 billion yen ($70 million) of 6% bonds due Feb. 24, 1993, priced at 101 1/4, via Daiwa Europe Ltd.@@@@1@20@@oe@2-2-2013
20271053@unknown@formal@none@1@S@Okobank (Finland) --@@@@1@3@@oe@2-2-2013
20271054@unknown@formal@none@1@S@10 billion yen of 6% bonds due Nov. 30, 1992, priced at 101.225 to yield 6.056% via IBJ International.@@@@1@19@@oe@2-2-2013
20272001@unknown@formal@none@1@S@EG&G Inc. said it acquired Laboratorium Prof. Dr. Berthold, a German maker of scientific instruments.@@@@1@15@@oe@2-2-2013
20272002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20272003@unknown@formal@none@1@S@The Wellesley, Mass., maker of scientific instruments and electronic parts said Berthold expects 1989 sales of more than 100 million Deutsche marks ($54.5 million) and employs about 400 people.@@@@1@29@@oe@2-2-2013
20272004@unknown@formal@none@1@S@Berthold is based in Wildbad, West Germany, and also has operations in Belgium.@@@@1@13@@oe@2-2-2013
20272005@unknown@formal@none@1@S@John M. Kucharski, EG&G's chairman and chief executive, said the acquisition "will extend EG&G's core technologies, strengthen its position in the European Economic Community and assure a strength and presence in the Eastern European market."@@@@1@35@@oe@2-2-2013
20272006@unknown@formal@none@1@S@He said it especially will strengthen the company's efforts in the rapidly growing field of bio-analytical instrumentation, and in applied nuclear physics.@@@@1@22@@oe@2-2-2013
20272007@unknown@formal@none@1@S@Separately, EG&G said it sold most of its Mason Research Institute subsidiary to Transgenic Sciences Inc., a closely held biotechnology company based in Worcester, Mass.@@@@1@25@@oe@2-2-2013
20272008@unknown@formal@none@1@S@The sale, for $7 million in cash and securities, will leave EG&G with a 12% stake in Transgenic, executives said.@@@@1@20@@oe@2-2-2013
20272009@unknown@formal@none@1@S@Mason is the largest toxicology lab in New England, with annual revenue of $8 million and 140 employees.@@@@1@18@@oe@2-2-2013
20272010@unknown@formal@none@1@S@Mason serves commercial and government customers, including the National Institutes of Health.@@@@1@12@@oe@2-2-2013
20272011@unknown@formal@none@1@S@The combined companies will become profitable by January 1990, said James P. Sherblom, Transgenic's chairman and chief executive officer.@@@@1@19@@oe@2-2-2013
20273001@unknown@formal@none@1@S@The Internal Revenue Service said it is willing to let the U.S. Tax Court decide how much oil man William Herbert Hunt will owe the government after his assets are liquidated.@@@@1@31@@oe@2-2-2013
20273002@unknown@formal@none@1@S@The surprise announcement came after the IRS broke off negotiations with Mr. Hunt on a settlement of the one-time tycoon's personal bankruptcy case.@@@@1@23@@oe@2-2-2013
20273003@unknown@formal@none@1@S@Although the action removes one obstacle in the way of an overall settlement to the case, it also means that Mr. Hunt could be stripped of virtually all of his assets if the Tax Court rules against him in a 1982 case heard earlier this year in Washington, D.C.@@@@1@49@@oe@2-2-2013
20273004@unknown@formal@none@1@S@The IRS has been seeking more than $300 million in back taxes from Mr. Hunt.@@@@1@15@@oe@2-2-2013
20273005@unknown@formal@none@1@S@Separately, a federal judge hearing Mr. Hunt's bankruptcy case yesterday turned down a proposed $65.7 million settlement between Mr. Hunt and Minpeco S.A., another major creditor in the case.@@@@1@29@@oe@2-2-2013
20273006@unknown@formal@none@1@S@The Peruvian minerals concern had been seeking a claim of $251 million against Mr. Hunt.@@@@1@15@@oe@2-2-2013
20273007@unknown@formal@none@1@S@In addition to turning down the compromise, Judge Harold C. Abramson said he would allow a claim of only $19.7 million.@@@@1@21@@oe@2-2-2013
20273008@unknown@formal@none@1@S@Minpeco attorneys said they would appeal the decision to a federal district court.@@@@1@13@@oe@2-2-2013
20273009@unknown@formal@none@1@S@Regarding Mr. Hunt's taxes, he and the IRS have apparently agreed on a basic formula for liquidating his estate in which the IRS would get 70% of the proceeds from a liquidating trust and 30% would go to other creditors.@@@@1@40@@oe@2-2-2013
20273010@unknown@formal@none@1@S@But they have been at odds over how much Mr. Hunt would owe the government after his assets are sold.@@@@1@20@@oe@2-2-2013
20273011@unknown@formal@none@1@S@The IRS had demanded $90 million but Mr. Hunt would agree to no more than $60 million.@@@@1@17@@oe@2-2-2013
20273012@unknown@formal@none@1@S@Grover Hartt III, a government lawyer, warned that Mr. Hunt stood to lose certain oil and gas properties, $200,000 in English pottery, a Colorado condominium and other assets he might have kept if he had settled with the IRS.@@@@1@39@@oe@2-2-2013
20273013@unknown@formal@none@1@S@"But they wanted to roll the dice and we're going to let them," Mr. Hartt said.@@@@1@16@@oe@2-2-2013
20273014@unknown@formal@none@1@S@Stephen McCartin, Mr. Hunt's attorney, said his client welcomed the gamble.@@@@1@11@@oe@2-2-2013
20273015@unknown@formal@none@1@S@The Tax Court isn't expected to rule before early next year.@@@@1@11@@oe@2-2-2013
20274001@unknown@formal@none@1@S@Japan has found another safe outlet for its money: U.S. home mortgages.@@@@1@12@@oe@2-2-2013
20274002@unknown@formal@none@1@S@An increasing number of big Japanese investors are buying up U.S. home mortgages that have been pooled and packaged for sale as interest-bearing instruments known as mortgage-backed securities.@@@@1@28@@oe@2-2-2013
20274003@unknown@formal@none@1@S@As much as 10% of new U.S. mortgage securities issued by the Federal National Mortgage Association, or Fannie Mae, and Federal Home Loan Mortgage Corp., or Freddie Mac, now flow into Japanese hands.@@@@1@33@@oe@2-2-2013
20274004@unknown@formal@none@1@S@That may not come as a surprise to Americans who have watched the Japanese snap up properties in the U.S. from golf courses to a stake in Rockefeller Center.@@@@1@29@@oe@2-2-2013
20274005@unknown@formal@none@1@S@But it marks a big change for the Japanese, who shunned mortgage securities after getting burned by a big downturn in interest rates a few years back.@@@@1@27@@oe@2-2-2013
20274006@unknown@formal@none@1@S@"You can't say it's a "tsunami" (tidal wave), but we're making some headway," says Fannie Mae's chairman, David O. Maxwell, who visits Tokyo at least once a year to explain and drum up investor interest in mortgage securities.@@@@1@38@@oe@2-2-2013
20274007@unknown@formal@none@1@S@"Interest is a great deal higher than it was a year ago."@@@@1@12@@oe@2-2-2013
20274008@unknown@formal@none@1@S@The steady growth of the mortgage securities market in the U.S. has even triggered talk of building up a similar market here.@@@@1@22@@oe@2-2-2013
20274009@unknown@formal@none@1@S@Evidence of the growing Japanese demand for mortgage securities abounds.@@@@1@10@@oe@2-2-2013
20274010@unknown@formal@none@1@S@Earlier this year, Blackstone Group, a New York investment bank, had no trouble selling out a special $570 million mortgage-securities trust it created for Japanese investors.@@@@1@26@@oe@2-2-2013
20274011@unknown@formal@none@1@S@Industrial Bank of Japan, which claims to be the biggest Japanese buyer of U.S. mortgage securities, says it will more than double its purchases this year, to an amount one official puts at several billion dollars.@@@@1@36@@oe@2-2-2013
20274012@unknown@formal@none@1@S@And a Fannie Mae seminar this week promises to draw hundreds of prospective investors, who can be expected to channel tens of billions of dollars into the market in the next few years.@@@@1@33@@oe@2-2-2013
20274013@unknown@formal@none@1@S@"Last year, there were only several big investors who were interested," says Kinji Kato, a vice president at the international arm of Nomura Securities Co.@@@@1@25@@oe@2-2-2013
20274014@unknown@formal@none@1@S@"This year, some investors are changing their policies and investing a lot."@@@@1@12@@oe@2-2-2013
20274015@unknown@formal@none@1@S@Ultimately, he says, strong demand could help to drive down interest rates on mortgage securities.@@@@1@15@@oe@2-2-2013
20274016@unknown@formal@none@1@S@At the moment, Nomura is the only Japanese institution authorized to act as a primary seller of Fannie Mae instruments.@@@@1@20@@oe@2-2-2013
20274017@unknown@formal@none@1@S@But other Japanese institutions say privately that they are considering asking to join the 59-dealer selling group.@@@@1@17@@oe@2-2-2013
20274018@unknown@formal@none@1@S@These securities are attractive to Japanese investors for three reasons.@@@@1@10@@oe@2-2-2013
20274019@unknown@formal@none@1@S@First, they are safe.@@@@1@4@@oe@2-2-2013
20274020@unknown@formal@none@1@S@While they aren't backed by the full faith and credit of the U.S. government, as Treasury bonds are, it is widely assumed that the government would support them if necessary.@@@@1@30@@oe@2-2-2013
20274021@unknown@formal@none@1@S@(U.S. Treasury bonds are still the dollar-denominated investment of choice for long-term Japanese investors).@@@@1@14@@oe@2-2-2013
20274022@unknown@formal@none@1@S@Second, they are liquid.@@@@1@4@@oe@2-2-2013
20274023@unknown@formal@none@1@S@The secondary market in federally backed mortgage securities now exceeds $900 billion, or nearly half of the $2.2 trillion in U.S. residential mortgages issued.@@@@1@24@@oe@2-2-2013
20274024@unknown@formal@none@1@S@Third, they offer high yields.@@@@1@5@@oe@2-2-2013
20274025@unknown@formal@none@1@S@At the moment, some offer as much as 1.6 to 1.8 percentage points over Treasury securities of similar maturities.@@@@1@19@@oe@2-2-2013
20274026@unknown@formal@none@1@S@But there is a risk, which the Japanese discovered when they first dipped their toes into the market nearly five years ago.@@@@1@22@@oe@2-2-2013
20274027@unknown@formal@none@1@S@Since most mortgages can be prepaid or refinanced at any time, issuers of mortgage securities retain the right to buy back their bonds before maturity.@@@@1@25@@oe@2-2-2013
20274028@unknown@formal@none@1@S@That's a headache for long-term investors, since it forces them to reinvest their money -- usually at lower rates than the original mortgage securities carried.@@@@1@25@@oe@2-2-2013
20274029@unknown@formal@none@1@S@"Two or three years ago, the problem was that people didn't understand the prepayment risk," says Nomura's Mr. Kato.@@@@1@19@@oe@2-2-2013
20274030@unknown@formal@none@1@S@"So they were surprised and very disappointed by prepayment."@@@@1@9@@oe@2-2-2013
20274031@unknown@formal@none@1@S@Compounding the trouble to Japanese investors, mortgage securities pay interest monthly, since most mortgages require homeowners to make monthly payments.@@@@1@20@@oe@2-2-2013
20274032@unknown@formal@none@1@S@But Japanese institutional investors are used to quarterly or semiannual payments on their investments, so the monthly cash flow posed administrative problems.@@@@1@22@@oe@2-2-2013
20274033@unknown@formal@none@1@S@As a result, Japanese investors steered clear of the mortgage securities.@@@@1@11@@oe@2-2-2013
20274034@unknown@formal@none@1@S@But they didn't lose touch with the U.S. issuers.@@@@1@9@@oe@2-2-2013
20274035@unknown@formal@none@1@S@Since 1985, Japanese investors have bought nearly 80% of $10 billion in Fannie Mae corporate debt issued to foreigners, money that Fannie Mae uses to buy mortgages from U.S. banks.@@@@1@30@@oe@2-2-2013
20274036@unknown@formal@none@1@S@And Japanese investors took up nearly all of two $200 million Real Estate Mortgage Investment Conduits, a kind of collateralized mortgage obligation, that were offered to foreigners this year.@@@@1@29@@oe@2-2-2013
20274037@unknown@formal@none@1@S@In addition, further packaging of mortgage-backed securities, such as Blackstone's fund, have reduced the effects of prepayment risk and automatically reinvest monthly payments so institutions don't have to.@@@@1@28@@oe@2-2-2013
20274038@unknown@formal@none@1@S@Freddie Mac for years has offered a so-called participation certificate that guarantees it won't be prepaid for a set number of years and offers semiannual payments.@@@@1@26@@oe@2-2-2013
20275001@unknown@formal@none@1@S@As Georgia-Pacific's bid for Great Northern Nekoosa has shown, uninvited takeovers are still alive despite premature reports of their demise.@@@@1@20@@oe@2-2-2013
20275002@unknown@formal@none@1@S@Therefore, the debate about poison pills will continue to rage in the boardrooms of corporations and the halls of academia.@@@@1@20@@oe@2-2-2013
20275003@unknown@formal@none@1@S@Although poison pills come in different colors and shapes, they usually give current shareholders the right to buy more stock of their corporation at a large discount if certain events occur -- typically, if a hostile bidder acquires more than a specified percentage of the corporation's stock.@@@@1@47@@oe@2-2-2013
20275004@unknown@formal@none@1@S@However, these discount purchase rights may generally be redeemed at a nominal cost by the corporation's directors if they approve of a bidder.@@@@1@23@@oe@2-2-2013
20275005@unknown@formal@none@1@S@Supporters of poison pills argue that their adoption forces bidders to negotiate with a corporation's directors, who are thereby put in a better position to pursue the long-term interests of the corporation.@@@@1@32@@oe@2-2-2013
20275006@unknown@formal@none@1@S@Recent studies by Georgeson & Co. conclude that corporations with poison pills have experienced greater stock-price appreciation than corporations without poison pills during the past few years.@@@@1@27@@oe@2-2-2013
20275007@unknown@formal@none@1@S@Critics of poison pills argue that they harm shareholders by letting corporate management defeat takeover bids at premium prices and by deterring premium bids from ever being made to shareholders.@@@@1@30@@oe@2-2-2013
20275008@unknown@formal@none@1@S@These critics are backed by several academic studies showing that the adoption of poison pills reduces shareholder values not merely in the short run, but also over longer periods.@@@@1@29@@oe@2-2-2013
20275009@unknown@formal@none@1@S@Institutional investors that must evaluate poison pills on a regular basis are interested less in this general debate than in the answers to specific questions about the corporation issuing the pill.@@@@1@31@@oe@2-2-2013
20275010@unknown@formal@none@1@S@Does this corporation have a high-quality management team with a good track record?@@@@1@13@@oe@2-2-2013
20275011@unknown@formal@none@1@S@Does this team have a viable strategy for improving shareholder values, and does this strategy require implementation over an extended period?@@@@1@21@@oe@2-2-2013
20275012@unknown@formal@none@1@S@Will the adoption of this particular form of a poison pill significantly improve the chances for management to carry out this strategy?@@@@1@22@@oe@2-2-2013
20275013@unknown@formal@none@1@S@If the answers to these questions are affirmative, then institutional investors are likely to be favorably disposed toward a specific poison pill.@@@@1@22@@oe@2-2-2013
20275014@unknown@formal@none@1@S@However, the problem is that once most poison pills are adopted, they survive forever.@@@@1@14@@oe@2-2-2013
20275015@unknown@formal@none@1@S@Although the current management team may be outstanding, who will be the CEO in 10 years?@@@@1@16@@oe@2-2-2013
20275016@unknown@formal@none@1@S@Although the five-year strategy may be excellent, what will be the strategy in 25 years?@@@@1@15@@oe@2-2-2013
20275017@unknown@formal@none@1@S@The solution to this problem is a time-limited poison pill.@@@@1@10@@oe@2-2-2013
20275018@unknown@formal@none@1@S@The limit could range from three years to seven years, depending on the composition of the management team and the nature of its strategic plan.@@@@1@25@@oe@2-2-2013
20275019@unknown@formal@none@1@S@At the end of this period, the poison pill would be eliminated automatically, unless a new poison pill were approved by the then-current shareholders, who would have an opportunity to evaluate the corporation's strategy and management team at that time.@@@@1@40@@oe@2-2-2013
20275020@unknown@formal@none@1@S@One rare example of a time-limited poison pill is the shareholder rights plan adopted by Pennzoil last year after it received a huge litigation settlement from Texaco.@@@@1@27@@oe@2-2-2013
20275021@unknown@formal@none@1@S@Pennzoil's poison pill covers five years in order to give current management enough time to put these proceeds to work in a prudent manner.@@@@1@24@@oe@2-2-2013
20275022@unknown@formal@none@1@S@Another interesting example is the poison pill adopted recently by Pittsburgh-based National Intergroup Inc., a diversified holding company.@@@@1@18@@oe@2-2-2013
20275023@unknown@formal@none@1@S@The State of Wisconsin Investment Board, which owned about 7% of the company's voting stock, worked with management to devise a time-limited poison pill.@@@@1@24@@oe@2-2-2013
20275024@unknown@formal@none@1@S@This pill automatically expires after three years unless continued by a vote of the shareholders.@@@@1@15@@oe@2-2-2013
20275025@unknown@formal@none@1@S@The attitude of the Wisconsin Investment Board reflects a growing receptivity to time-limited poison pills on the part of institutional investors, as shown by the discussions at recent meetings of the Council of Institutional Investors and my informal survey of several retirement plans with large stock positions.@@@@1@47@@oe@2-2-2013
20275026@unknown@formal@none@1@S@More widespread time limits on poison pills would allow shareholders to evaluate a specific poison pill within the context of a specific management team's strategy.@@@@1@25@@oe@2-2-2013
20275027@unknown@formal@none@1@S@Such concrete analysis is likely to lead to more fruitful dialogue between management and shareholders than the abstract debate about poison pills.@@@@1@22@@oe@2-2-2013
20275028@unknown@formal@none@1@S@Mr. Pozen is the general counsel and a managing director of Fidelity Investments in Boston.@@@@1@15@@oe@2-2-2013
20276001@unknown@formal@none@1@S@Michael Blair, former president and chief executive officer of Enfield Corp., failed to win election to the company's board at a special shareholder meeting.@@@@1@24@@oe@2-2-2013
20276002@unknown@formal@none@1@S@Mr. Blair said after the meeting that he had filed separate lawsuits in the Ontario Supreme Court for unjust dismissal against Enfield and for libel against its largest shareholder, Canadian Express Ltd., and two executives of Hees International Bancorp Inc., which controls Canadian Express.@@@@1@44@@oe@2-2-2013
20276003@unknown@formal@none@1@S@Holders at the meeting elected a full slate of Canadian Express nominees to Enfield's 11-member board.@@@@1@16@@oe@2-2-2013
20276004@unknown@formal@none@1@S@Mr. Blair and Hees have been feuding for months.@@@@1@9@@oe@2-2-2013
20276005@unknown@formal@none@1@S@Yesterday's election was a sequel to Enfield's annual meeting in June when Mr. Blair disallowed proxies in favor of two Hees nominees.@@@@1@22@@oe@2-2-2013
20276006@unknown@formal@none@1@S@The Ontario Supreme Court overturned Mr. Blair's decision.@@@@1@8@@oe@2-2-2013
20276007@unknown@formal@none@1@S@He later resigned from his executive positions with Enfield, saying that actions by its board "amounted to {my} dismissal."@@@@1@19@@oe@2-2-2013
20276008@unknown@formal@none@1@S@Mr. Blair said his libel suit seeks 10 million Canadian dollars (US$8.5 million) from Canadian Express and Hees executives Manfred Walt and Willard L'Heureux.@@@@1@24@@oe@2-2-2013
20276009@unknown@formal@none@1@S@He said his suit against Enfield seeks two years severance pay, equivalent to C$720,000.@@@@1@14@@oe@2-2-2013
20276010@unknown@formal@none@1@S@Hees and Canadian Express executives couldn't be reached for comment.@@@@1@10@@oe@2-2-2013
20276011@unknown@formal@none@1@S@Enfield is a holding company with interests in manufacturing concerns.@@@@1@10@@oe@2-2-2013
20276012@unknown@formal@none@1@S@It is 38.5% owned by Canadian Express, another holding company.@@@@1@10@@oe@2-2-2013
20276013@unknown@formal@none@1@S@Hees is a merchant bank controlled by Toronto financiers Peter and Edward Bronfman.@@@@1@13@@oe@2-2-2013
20276014@unknown@formal@none@1@S@All the concerns are based in Toronto.@@@@1@7@@oe@2-2-2013
20277001@unknown@formal@none@1@S@Buying 51% of Rockefeller Group Inc. is right up Mitsubishi Estate Co.'s alley in one sense: The huge Japanese real estate company is entering a long-term relationship with a similarly conservative U.S. owner of tony urban property.@@@@1@37@@oe@2-2-2013
20277002@unknown@formal@none@1@S@But in another sense, the $846 million purchase is uncharacteristically nervy, industry analysts say.@@@@1@14@@oe@2-2-2013
20277003@unknown@formal@none@1@S@The usually cautious giant will become the majority owner of the company that owns New York's beloved Rockefeller Center at a time when tensions over Japanese purchases of U.S. property are at an all-time high.@@@@1@35@@oe@2-2-2013
20277004@unknown@formal@none@1@S@Officials of Rockefeller Group and Mitsubishi Estate prefer to focus on the affinities, nearly dismissing the threat of a backlash from the U.S. public.@@@@1@24@@oe@2-2-2013
20277005@unknown@formal@none@1@S@"We think there will be positive as well as negative reactions," says Raymond Pettit, senior vice president and chief financial officer of Rockefeller Group.@@@@1@24@@oe@2-2-2013
20277006@unknown@formal@none@1@S@"On balance, we think it will be positive."@@@@1@8@@oe@2-2-2013
20277007@unknown@formal@none@1@S@But some Japanese government officials and businessmen worry that the prominent purchase is just the sort of deal that should be avoided for the time being.@@@@1@26@@oe@2-2-2013
20277008@unknown@formal@none@1@S@In particular, they criticize the timing, coming as it does on the heels of Sony Corp.'s controversial purchase of Columbia Pictures Entertainment Inc.@@@@1@23@@oe@2-2-2013
20277009@unknown@formal@none@1@S@"Officially, yes, we encourage the free flow of direct investment," says a Foreign Ministry official.@@@@1@15@@oe@2-2-2013
20277010@unknown@formal@none@1@S@"But they didn't have to choose this particular moment."@@@@1@9@@oe@2-2-2013
20277011@unknown@formal@none@1@S@During the past year, government officials and leading business organizations have repeatedly urged Japanese companies to refrain from flashy real estate purchases in the@@@@1@24@@oe@2-2-2013
20277012@unknown@formal@none@1@S@Since the mid-1980s, Japan's other major real estate purchases in the U.S. include Dai-Ichi Seimei America Corp.'s $670 million purchase of an office building at 153 East 53rd St. in Manhattan in 1987 and Mitsui Fudosan Inc.'s $610 million purchase of the Exxon Building, part of Rockefeller Center, in 1986.@@@@1@50@@oe@2-2-2013
20277013@unknown@formal@none@1@S@In Los Angeles, Arco Plaza was sold to Shuwa Corp. for $620 million in 1986, and Sumitomo Life Insurance Co. paid $300 million for Atlanta's IBM Tower last year.@@@@1@29@@oe@2-2-2013
20277014@unknown@formal@none@1@S@Altogether, annual Japanese investment in U.S. commercial real estate grew from about $1.3 billion in 1985 to about $7.1 billion in 1988.@@@@1@22@@oe@2-2-2013
20277015@unknown@formal@none@1@S@Many Japanese companies have taken the warnings by the country's leaders to heart and sought development partnerships rather than landmark properties.@@@@1@21@@oe@2-2-2013
20277016@unknown@formal@none@1@S@Critics say Mitsubishi Estate's decision to buy into Rockefeller reflects the degree to which companies are irritated by the pressure to act for the good of Japan.@@@@1@27@@oe@2-2-2013
20277017@unknown@formal@none@1@S@"Those who have no money and aren't buying think it's right to refrain, but those with money who want to buy for themselves pay no attention," says an official of the Japan-U.S. Business Council.@@@@1@34@@oe@2-2-2013
20277018@unknown@formal@none@1@S@But to Mitsubishi Estate, the acquisition has just the elements that should win support from both sides.@@@@1@17@@oe@2-2-2013
20277019@unknown@formal@none@1@S@First of all, it is a friendly acquisition in which Rockefeller sought out Mitsubishi Estate and asked it to buy a majority share.@@@@1@23@@oe@2-2-2013
20277020@unknown@formal@none@1@S@Secondly, the two companies found a similarity in their business and development philosophies and intend to cooperate in a range of activities from real estate to telecommunications.@@@@1@27@@oe@2-2-2013
20277021@unknown@formal@none@1@S@Finally, Mitsubishi Estate has no plans to interfere with Rockefeller's management beyond taking a place on the board.@@@@1@18@@oe@2-2-2013
20277022@unknown@formal@none@1@S@"We'll continue to work with them, in keeping with the reputation of the company, and we'll rely very much on their leadership," says Mitsubishi Estate President Jotaro Takagi.@@@@1@28@@oe@2-2-2013
20277023@unknown@formal@none@1@S@Rockefeller may well have found its match in Mitsubishi Estate, a company of long history, strong government ties and sound resources.@@@@1@21@@oe@2-2-2013
20277024@unknown@formal@none@1@S@In asset terms, Mitsubishi Estate is the largest real estate firm in Japan.@@@@1@13@@oe@2-2-2013
20277025@unknown@formal@none@1@S@The core of its holdings is 190,000 square meters of incredibly expensive property in the Marunouchi district, the business and financial center of Tokyo, often jokingly called "Mitsubishi Village."@@@@1@29@@oe@2-2-2013
20277026@unknown@formal@none@1@S@The Mitsubishi family company acquired that property from the government some 100 years ago when it was a portion of samurai residential land running from the moat of the Imperial Palace east toward the hodgepodge of tiny shops and twisted alleys that made up the merchants' district.@@@@1@47@@oe@2-2-2013
20277027@unknown@formal@none@1@S@At the time, Japan had just opened its doors to the world after about 250 years of isolation and needed a Western-style business center.@@@@1@24@@oe@2-2-2013
20277028@unknown@formal@none@1@S@Mitsubishi built the government's dream development, the story goes, in exchange for the official decision to locate Tokyo's central railway station there.@@@@1@22@@oe@2-2-2013
20277029@unknown@formal@none@1@S@That was just an early step in a relationship with government that has earned the Mitsubishi group the dubious moniker of "seisho," literally government-business, a title that has the pejorative connotation of doing the government's bidding, but also suggests the clout inherent in maintaining such close ties.@@@@1@47@@oe@2-2-2013
20277030@unknown@formal@none@1@S@Mitsubishi Estate is one of the dozens of companies in today's Mitsubishi group.@@@@1@13@@oe@2-2-2013
20277031@unknown@formal@none@1@S@It's known for its cautiousness in part because it has had little need for bold overseas ventures: In the year ended March 31, 57.4% of its total revenue came from office building management.@@@@1@33@@oe@2-2-2013
20277032@unknown@formal@none@1@S@Its earnings can rise 10% to 12% annually simply from the natural turnover of tenants and automatic rent increases, says Graeme McDonald, an industry analyst at James Capel Pacific Ltd.@@@@1@30@@oe@2-2-2013
20277033@unknown@formal@none@1@S@For the latest fiscal year, the company's net income jumped a robust 19% to 35.5 billion yen ($250.2 million).@@@@1@19@@oe@2-2-2013
20277034@unknown@formal@none@1@S@For Mitsubishi Estate, the Rockefeller purchase will catapult it firmly into the overseas real estate business, the one area where it has lagged notably behind Japanese competitors such as Mitsui, which had purchased the Exxon Building.@@@@1@36@@oe@2-2-2013
20277035@unknown@formal@none@1@S@"Japanese companies need to invest in overseas real estate for diversification," says Yoshio Shima, an industry analyst at Goldman Sachs (Japan) Corp.@@@@1@22@@oe@2-2-2013
20277036@unknown@formal@none@1@S@Rockefeller isn't the first overseas purchase for Mitsubishi Estate -- it has already played a leading role in designing Los Angeles's Citicorp Plaza.@@@@1@23@@oe@2-2-2013
20277037@unknown@formal@none@1@S@But the Rockefeller investment is its largest.@@@@1@7@@oe@2-2-2013
20277038@unknown@formal@none@1@S@Nonetheless, it will barely make a dent in Mitsubishi Estate's finances, analysts say.@@@@1@13@@oe@2-2-2013
20277039@unknown@formal@none@1@S@Mitsubishi Estate hasn't decided how it will raise the funds for the purchase, which are due in cash next April, but the Marunouchi holdings alone are estimated to have a market value of as much as 10 trillion yen to 11 trillion yen.@@@@1@43@@oe@2-2-2013
20277040@unknown@formal@none@1@S@Moreover, as a member of the Mitsubishi group, which is headed by one of Japan's largest banks, it is sure to win a favorable loan.@@@@1@25@@oe@2-2-2013
20277041@unknown@formal@none@1@S@Analysts say the company also could easily issue new convertible bonds or warrants.@@@@1@13@@oe@2-2-2013
20277042@unknown@formal@none@1@S@Meanwhile, at home, Mitsubishi has control of some major projects.@@@@1@10@@oe@2-2-2013
20277043@unknown@formal@none@1@S@It is the largest private-sector landowner of the Minato-Mirai 21 project, a multibillion-yen development in the port city of Yokohama, about an hour outside Tokyo.@@@@1@25@@oe@2-2-2013
20277044@unknown@formal@none@1@S@The project is one of a select group of public projects opened to U.S. firms under a U.S.-Japan construction trade agreement reached last year.@@@@1@24@@oe@2-2-2013
20277045@unknown@formal@none@1@S@The centerpiece of that complex, the Landmark Tower, will be Japan's tallest building when it is completed in 1993.@@@@1@19@@oe@2-2-2013
20277046@unknown@formal@none@1@S@Mitsubishi is also pushing ahead with a controversial plan to redevelop Marunouchi into a business center of high-tech buildings, a project budgeted for 30 years and six trillion yen.@@@@1@29@@oe@2-2-2013
20278001@unknown@formal@none@1@S@Time Warner Inc. and Sony Corp. may be today's public enemies, but the two entertainment giants could end up becoming partners in a number of ventures as part of a settlement of their acrimonious legal dispute over Hollywood producers Peter Guber and Jon Peters.@@@@1@44@@oe@2-2-2013
20278002@unknown@formal@none@1@S@The Warner Bros. studio and Sony signaled they are close to a settlement yesterday, asking a Los Angeles Superior Court to postpone a hearing scheduled for tomorrow on Warner's request for a preliminary injunction blocking Mr. Guber and Mr. Peters from taking the top posts at Columbia Pictures Entertainment Inc.@@@@1@50@@oe@2-2-2013
20278003@unknown@formal@none@1@S@In separate statements, the two sides said they want to have "further discussions."@@@@1@13@@oe@2-2-2013
20278004@unknown@formal@none@1@S@Sony is acquiring Columbia and Guber-Peters Entertainment Co. in two separate transactions valued at more than $5 billion.@@@@1@18@@oe@2-2-2013
20278005@unknown@formal@none@1@S@Warner Communications Inc., which is being acquired by Time Warner, has filed a $1 billion breach-of-contract suit against Sony and the two producers.@@@@1@23@@oe@2-2-2013
20278006@unknown@formal@none@1@S@Warner has a five-year exclusive contract with Mr. Guber and Mr. Peters that requires them to make movies exclusively at the Warner Bros. studio.@@@@1@24@@oe@2-2-2013
20278007@unknown@formal@none@1@S@The two sides in the legal battle have hurled accusations of duplicity at each other for weeks, and both Warner and Sony have accused each other of trying to sabotage each other's prospects for success in the entertainment business.@@@@1@39@@oe@2-2-2013
20278008@unknown@formal@none@1@S@But it may amount to little more than posturing; the two have continued on-again, off-again settlement talks over the last few weeks, and people familiar with the talks say the matter could be resolved within a week.@@@@1@37@@oe@2-2-2013
20278009@unknown@formal@none@1@S@Both Warner and Sony declined to comment on the terms of the settlement discussions.@@@@1@14@@oe@2-2-2013
20278010@unknown@formal@none@1@S@But the people familiar with the talks said that Warner isn't expected to get any cash in the settlement.@@@@1@19@@oe@2-2-2013
20278011@unknown@formal@none@1@S@Instead, Sony is likely to agree to let Warner participate in certain of its businesses, such as the record club of Sony's CBS Records unit.@@@@1@25@@oe@2-2-2013
20278012@unknown@formal@none@1@S@Warner has surpassed Sony as the largest record company, but it doesn't have a powerful world-wide record club like CBS.@@@@1@20@@oe@2-2-2013
20278013@unknown@formal@none@1@S@The two sides are also discussing certain business ventures involving cable rights to Columbia's movies.@@@@1@15@@oe@2-2-2013
20278014@unknown@formal@none@1@S@In addition, Sony is expected to agree to swap Columbia's 35% stake in the sprawling Burbank, Calif., studio that Warner and Columbia share, in exchange for the old MGM studio lot that Warner acquired with the purchase of Lorimar Telepictures Corp.@@@@1@41@@oe@2-2-2013
20278015@unknown@formal@none@1@S@Still, it may be tough for the two to have a smooth partnership in anything, in the wake of sworn affidavits filed over the last week.@@@@1@26@@oe@2-2-2013
20278016@unknown@formal@none@1@S@One, for example, came from CBS Records Chairman Walter Yetnikoff, who will head a committee that will oversee Sony's entertainment division, including both records and movies.@@@@1@26@@oe@2-2-2013
20278017@unknown@formal@none@1@S@In his affidavit, Mr. Yetnikoff accused Warner Chairman Steven J. Ross of having an "antiSony, anti-Japanese bias" and said that Mr. Ross had tried to talk him out of letting Sony buy CBS Records two years ago for that reason.@@@@1@40@@oe@2-2-2013
20278018@unknown@formal@none@1@S@Mr. Ross, who will be chairman and co-chief executive officer of Time Warner after the merger is complete, denied that in his own affidavit, and called Mr. Yetnikoff's remarks "vicious" and his claims "reckless, irresponsible and baseless," saying Warner under his leadership has started a number of businesses in Japan.@@@@1@50@@oe@2-2-2013
20278019@unknown@formal@none@1@S@Mr. Ross also said he enjoys "warm professional and personal relationships" with Japanese executives including Sony Chairman Akio Morita, "who has visited my home here."@@@@1@25@@oe@2-2-2013
20278020@unknown@formal@none@1@S@But despite the acrimony between Mr. Ross and Mr. Yetnikoff, officials of the Time side of Time Warner have reportedly been increasingly interested in a settlement that might yield attractive business opportunities.@@@@1@32@@oe@2-2-2013
20278021@unknown@formal@none@1@S@Time executives such as the company's president, N.J. Nicholas, who will eventually be co-chief executive of Time Warner alongside Mr. Ross, have no personal relationships or ego at stake in the fight over the Guber-Peters duo, and were never directly drawn into the fray.@@@@1@44@@oe@2-2-2013
20278022@unknown@formal@none@1@S@Talks between the two sides could unravel, of course, as they have more than once since Sony announced its plans to hire Mr. Guber and Mr. Peters.@@@@1@27@@oe@2-2-2013
20278023@unknown@formal@none@1@S@But both sides appear to be more willing now to meet each other's terms to resolve the issue.@@@@1@18@@oe@2-2-2013
20278024@unknown@formal@none@1@S@And although Warner has said it wanted the producers to fulfill the terms of their contract, the producers said in sworn court declarations that they didn't believe the relationship could be repaired after the acrimony of the legal battle.@@@@1@39@@oe@2-2-2013
20278025@unknown@formal@none@1@S@Any settlement is also expected to exclude Mr. Guber and Mr. Peters from any of the projects they were working on at Warner.@@@@1@23@@oe@2-2-2013
20278026@unknown@formal@none@1@S@The Guber-Peters duo have 50 projects in various stages of development and production at Warner, including "Bonfire of the Vanities" and "A Bright Shining Lie."@@@@1@25@@oe@2-2-2013
20278027@unknown@formal@none@1@S@But that doesn't mean Mr. Guber and Mr. Peters might not eventually get their hands on some of their projects; studios develop hundreds of movies but produce only 10 to 20 each year.@@@@1@33@@oe@2-2-2013
20278028@unknown@formal@none@1@S@Once a studio chooses not to actually make a movie that is in development, producers are typically free to take it elsewhere.@@@@1@22@@oe@2-2-2013
20278029@unknown@formal@none@1@S@Mr. Guber and Mr. Peters also almost certainly wouldn't be able to participate in future sequels to "Batman," the blockbuster hit they produced for Warner.@@@@1@25@@oe@2-2-2013
20278030@unknown@formal@none@1@S@But in acquiring Guber-Peters Entertainment, Sony will actually get a piece of the profits from "Batman," since the publicly held concern gets certain revenue from the movies Mr. Guber and Mr. Peters produce.@@@@1@33@@oe@2-2-2013
20278031@unknown@formal@none@1@S@The two producers own a combined 28% stake in Guber-Peters.@@@@1@10@@oe@2-2-2013
20279001@unknown@formal@none@1@S@Southern Co.'s Gulf Power Co. subsidiary pleaded guilty to two felony charges of conspiracy to make illegal political contributions and tax evasion, and paid $500,000 in fines.@@@@1@27@@oe@2-2-2013
20279002@unknown@formal@none@1@S@Gulf Power's guilty plea before U.S. District Judge Robert L. Vining yesterday marks the end of only one part of a wide-ranging inquiry of Southern Co.@@@@1@26@@oe@2-2-2013
20279003@unknown@formal@none@1@S@The company is the subject of a federal grand jury investigation into whether its officials and its utility subsidiaries conspired to cover up their accounting for spare parts to evade federal income taxes.@@@@1@33@@oe@2-2-2013
20279004@unknown@formal@none@1@S@"The terms announced today are strictly between the United States and Gulf Power," said U.S. Attorney Robert L. Barr.@@@@1@19@@oe@2-2-2013
20279005@unknown@formal@none@1@S@"This is only a further step in a lengthy investigation."@@@@1@10@@oe@2-2-2013
20279006@unknown@formal@none@1@S@The plea settlement does not allow Southern Co. to charge any of the $500,000 to its customers, or take action against employees who provided information during the federal inquiry.@@@@1@29@@oe@2-2-2013
20279007@unknown@formal@none@1@S@Gulf Power had been under investigation for violating the Utility Holding Company Act, which prohibits public utilities from making political contributions.@@@@1@21@@oe@2-2-2013
20279008@unknown@formal@none@1@S@In a statement, Southern Co. President Edward L. Addison said, "We believe our decision to plead (guilty) to these charges is responsible and proper.@@@@1@24@@oe@2-2-2013
20279009@unknown@formal@none@1@S@And our action today will allow Gulf Power to avoid prolonged, distracting legal proceedings."@@@@1@14@@oe@2-2-2013
20279010@unknown@formal@none@1@S@He did not say what effect, if any, the $500,000 fine would have on the company's earnings.@@@@1@17@@oe@2-2-2013
20279011@unknown@formal@none@1@S@Mr. Barr said yesterday's plea by Gulf Power, which came after months of negotiations, was based on evidence that Gulf Power had set up an elaborate payment system through which it reimbursed outside vendors -- primarily three Florida advertising agencies -- for making illegal political contributions on its behalf.@@@@1@49@@oe@2-2-2013
20279012@unknown@formal@none@1@S@The Appleyard Agency, for example, allegedly made contributions from 1982 to 1984 to various funds for political candidates, then submitted bills to Gulf Power.@@@@1@24@@oe@2-2-2013
20279013@unknown@formal@none@1@S@The contributions were funded by monthly payments of $1,000 to $2,000 to Appleyard in the guise of a "special production fee" -- in effect, hiding the nature of the payments from the Internal Revenue Service, federal prosecutors said.@@@@1@38@@oe@2-2-2013
20279014@unknown@formal@none@1@S@The government also indicated that former Gulf Power senior vice president Jacob F. "Jake" Horton was the mastermind behind the use of the ad agencies -- Appleyard, Dick Leonard Group II Inc. and Hemmer & Yates Corp. -- to make payments to various political candidates from 1981 to 1988.@@@@1@49@@oe@2-2-2013
20279015@unknown@formal@none@1@S@Mr. Horton, who oversaw Gulf Power's governmental-affairs efforts, died mysteriously in a plane crash in April after learning he might be fired following the uncovering of irregularities in a company audit.@@@@1@31@@oe@2-2-2013
20279016@unknown@formal@none@1@S@Government officials declined to say whether the investigation includes the ad agencies or the politicians involved.@@@@1@16@@oe@2-2-2013
20279017@unknown@formal@none@1@S@In New York Stock Exchange trading, Southern Co. rose 50 cents a share to $27.125.@@@@1@15@@oe@2-2-2013
20280001@unknown@formal@none@1@S@`Frequent Drinker' Offer Stirs Up Spirited Debate@@@@1@7@@oe@2-2-2013
20280002@unknown@formal@none@1@S@TO GRAB a bigger piece of the declining scotch market, Seagram Co. has launched a controversial "frequent drinker" promotion for its Chivas Regal brand.@@@@1@24@@oe@2-2-2013
20280003@unknown@formal@none@1@S@Under the program, dubbed Chivas Class, customers who send in two labels from Chivas bottles will receive an upgrade in seating class on some Trans World Airlines flights.@@@@1@28@@oe@2-2-2013
20280004@unknown@formal@none@1@S@Repeat customers also can purchase luxury items at reduced prices.@@@@1@10@@oe@2-2-2013
20280005@unknown@formal@none@1@S@But at a time of mounting concern over alcohol abuse, some liquor marketers consider Seagram's frequent buyer promotion risky.@@@@1@19@@oe@2-2-2013
20280006@unknown@formal@none@1@S@"I'm surprised they're doing this," says Penn Kavanagh, president of Schieffelin & Somerset Co., which markets Johnnie Walker scotches.@@@@1@19@@oe@2-2-2013
20280007@unknown@formal@none@1@S@"I would be very leery of anything that says if you drink more, you get more."@@@@1@16@@oe@2-2-2013
20280008@unknown@formal@none@1@S@Others question the impact on Chivas's upscale image of a promotion that has customers soaking off labels.@@@@1@17@@oe@2-2-2013
20280009@unknown@formal@none@1@S@"It's really bizarre," says Albert Lerman, creative director at the Wells Rich Greene ad agency.@@@@1@15@@oe@2-2-2013
20280010@unknown@formal@none@1@S@"Chivas has an image of something you would savor, rather than guzzle."@@@@1@12@@oe@2-2-2013
20280011@unknown@formal@none@1@S@Chivas Class isn't the first such promotion.@@@@1@7@@oe@2-2-2013
20280012@unknown@formal@none@1@S@Last year, J&B Scotch offered 500 TWA frequent flier miles in exchange for a label.@@@@1@15@@oe@2-2-2013
20280013@unknown@formal@none@1@S@And Dewar's gave discounts on Scottish merchandise to people who sent in bottle labels.@@@@1@14@@oe@2-2-2013
20280014@unknown@formal@none@1@S@But the scope of Seagram's Chivas promotion sets it apart.@@@@1@10@@oe@2-2-2013
20280015@unknown@formal@none@1@S@The current campaign is just the first leg of an aggressive three-to-five-year direct marketing plan.@@@@1@15@@oe@2-2-2013
20280016@unknown@formal@none@1@S@Seagram says the promotion is designed to build brand loyalty rather than promote heavy drinking.@@@@1@15@@oe@2-2-2013
20280017@unknown@formal@none@1@S@Seagram asks customers to buy only two or three bottles over a 12-month period, says Richard Shaw, vice president of U.S. direct marketing.@@@@1@23@@oe@2-2-2013
20280018@unknown@formal@none@1@S@"We're not asking them to save up 50 proof-of-purchases.@@@@1@9@@oe@2-2-2013
20280019@unknown@formal@none@1@S@We're not saying drink more, we're saying trade up."@@@@1@9@@oe@2-2-2013
20280020@unknown@formal@none@1@S@Goya Concocts a Milk For Hispanic Tastes@@@@1@7@@oe@2-2-2013
20280021@unknown@formal@none@1@S@MOST FOOD companies these days are trimming the fat and cholesterol content of their products to appeal to health-conscious consumers.@@@@1@20@@oe@2-2-2013
20280022@unknown@formal@none@1@S@But Goya Foods Inc. believes it can milk some sales by bucking the trend.@@@@1@14@@oe@2-2-2013
20280023@unknown@formal@none@1@S@The Secaucus, N.J., company has formed a joint venture with a distributor called La Lecheria to market a higher-fat milk targeted at Hispanic consumers.@@@@1@24@@oe@2-2-2013
20280024@unknown@formal@none@1@S@To give Leche Fresca the creamier taste Goya says Hispanics prefer, the new brand has a butterfat content of 3.8%.@@@@1@20@@oe@2-2-2013
20280025@unknown@formal@none@1@S@That compares with 3.5% butterfat for whole milk.@@@@1@8@@oe@2-2-2013
20280026@unknown@formal@none@1@S@A spokesman for Borden Inc., the nation's largest milk producer, concedes Goya may be on to something.@@@@1@17@@oe@2-2-2013
20280027@unknown@formal@none@1@S@Borden sells considerably more whole milk than reduced-fat milks in southern and Hispanic markets, he says.@@@@1@16@@oe@2-2-2013
20280028@unknown@formal@none@1@S@Borden even tested a milk with 4% butterfat in the South, but decided the market was too small.@@@@1@18@@oe@2-2-2013
20280029@unknown@formal@none@1@S@Goya is selling Leche Fresca in nearly 500 grocery stores and bodegas in New York and parts of New Jersey.@@@@1@20@@oe@2-2-2013
20280030@unknown@formal@none@1@S@And it's adding 15 to 20 new outlets a day, says Greg Ricca, sales director at La Lecheria.@@@@1@18@@oe@2-2-2013
20280031@unknown@formal@none@1@S@Because of Leche Fresca's success, he says, the joint venture is developing other dairy products tailored to Hispanic tastes.@@@@1@19@@oe@2-2-2013
20280032@unknown@formal@none@1@S@Jewelry Makers Copy Cosmetics Sales Ploys@@@@1@6@@oe@2-2-2013
20280033@unknown@formal@none@1@S@FOR YEARS, costume jewelry makers fought a losing battle.@@@@1@9@@oe@2-2-2013
20280034@unknown@formal@none@1@S@Jewelry displays in department stores were often cluttered and uninspired.@@@@1@10@@oe@2-2-2013
20280035@unknown@formal@none@1@S@And the merchandise was, well, fake.@@@@1@6@@oe@2-2-2013
20280036@unknown@formal@none@1@S@As a result, marketers of faux gems steadily lost space in department stores to more fashionable rivals -- cosmetics makers.@@@@1@20@@oe@2-2-2013
20280037@unknown@formal@none@1@S@But lately, retailers say, fake has become more fashionable.@@@@1@9@@oe@2-2-2013
20280038@unknown@formal@none@1@S@And jewelry makers are beginning to use many of the same marketing tricks honed in the aggressive world of cosmetics.@@@@1@20@@oe@2-2-2013
20280039@unknown@formal@none@1@S@Last year, the total women's fashion jewelry business topped $4.9 billion, says Karen Alberg, editor of Accessories magazine.@@@@1@18@@oe@2-2-2013
20280040@unknown@formal@none@1@S@And it's growing fast, with annual sales gains of more than 10%.@@@@1@12@@oe@2-2-2013
20280041@unknown@formal@none@1@S@To increase their share of that business, jewelry makers such as Crystal Brands Inc.'s Trifari and Monet units and Swank Inc., maker of Anne Klein jewelry, are launching new lines with as much fanfare as the fragrance companies.@@@@1@38@@oe@2-2-2013
20280042@unknown@formal@none@1@S@They're hiring models to stroll the aisles sporting their jewels, and they're even beginning to borrow a perennial favorite of the beauty business -- offering a gift when consumers make a purchase.@@@@1@32@@oe@2-2-2013
20280043@unknown@formal@none@1@S@"We've started trying just about anything to keep sales moving in the stores," says Kim Renk, a Swank vice president.@@@@1@20@@oe@2-2-2013
20280044@unknown@formal@none@1@S@But there are limits.@@@@1@4@@oe@2-2-2013
20280045@unknown@formal@none@1@S@Ms. Renk says retailers nixed a promotion for pins with animal motifs.@@@@1@12@@oe@2-2-2013
20280046@unknown@formal@none@1@S@Her idea: bring in live zoo animals.@@@@1@7@@oe@2-2-2013
20280047@unknown@formal@none@1@S@Trifari, whose national ads earlier this year included paper cutouts of its costume finery, takes a tamer approach.@@@@1@18@@oe@2-2-2013
20280048@unknown@formal@none@1@S@The company focuses on the how-to aspects, says Andrew E. Philip, president.@@@@1@12@@oe@2-2-2013
20280049@unknown@formal@none@1@S@Trifari now trains sales help to advise customers on the best earring styles.@@@@1@13@@oe@2-2-2013
20280050@unknown@formal@none@1@S@But cosmetics firms still have one big marketing edge: They motivate sales people with commissions.@@@@1@15@@oe@2-2-2013
20280051@unknown@formal@none@1@S@Jewelry makers rarely pay commissions and aren't expected to anytime soon.@@@@1@11@@oe@2-2-2013
20280052@unknown@formal@none@1@S@Odds and Ends@@@@1@3@@oe@2-2-2013
20280053@unknown@formal@none@1@S@DESPITE GROWING interest in the environment, U.S. consumers haven't shown much interest in refillable packages for household products.@@@@1@18@@oe@2-2-2013
20280054@unknown@formal@none@1@S@Procter & Gamble Co. recently introduced refillable versions of four products, including Tide and Mr. Clean, in Canada, but doesn't plan to bring them to the U.S.@@@@1@27@@oe@2-2-2013
20280055@unknown@formal@none@1@S@Marketers believe most Americans won't make the convenience trade-off. . . .@@@@1@12@@oe@2-2-2013
20280056@unknown@formal@none@1@S@Braumeisters Ltd. tests a beer brewed with oat bran, rather than rice or corn.@@@@1@14@@oe@2-2-2013
20280057@unknown@formal@none@1@S@Called Otto's Original Oat Bran Beer, the brew costs about $12.75 a case.@@@@1@13@@oe@2-2-2013
20280058@unknown@formal@none@1@S@No cholesterol, of course.@@@@1@4@@oe@2-2-2013
20281001@unknown@formal@none@1@S@Northwest Airlines settled the remaining lawsuits filed on behalf of 156 people killed in a 1987 crash, but claims against the jetliner's maker are being pursued, a federal judge said.@@@@1@30@@oe@2-2-2013
20281002@unknown@formal@none@1@S@Northwest, a unit of NWA Inc., and McDonnell Douglas Corp., which made the MD-80 aircraft, also are pursuing counterclaims against each other in the crash near Detroit Metropolitan Airport.@@@@1@29@@oe@2-2-2013
20281003@unknown@formal@none@1@S@Terms of the settlements for the remaining 145 lawsuits against Northwest weren't disclosed.@@@@1@13@@oe@2-2-2013
20281004@unknown@formal@none@1@S@A total of 157 lawsuits were filed on behalf of crash victims.@@@@1@12@@oe@2-2-2013
20281005@unknown@formal@none@1@S@U.S. District Judge Julian A. Cook Jr. announced the settlements as the jury trial was to begin yesterday.@@@@1@18@@oe@2-2-2013
20281006@unknown@formal@none@1@S@He reset opening arguments for today.@@@@1@6@@oe@2-2-2013
20281007@unknown@formal@none@1@S@The jury will resolve the claims against McDonnell Douglas, Northwest's claim that a defect in the aircraft caused the crash, and McDonnell Douglas' claim that the plane was improperly flown.@@@@1@30@@oe@2-2-2013
20281008@unknown@formal@none@1@S@The National Transportation Safety Board ruled that pilots failed to set the plane's wing flaps and slats properly for takeoff and failed to make mandatory preflight checks that would have detected the error.@@@@1@33@@oe@2-2-2013
20281009@unknown@formal@none@1@S@Also, a cockpit warning system failed to alert the pilots the flaps and slats were not set for takeoff, the NTSB said.@@@@1@22@@oe@2-2-2013
20281010@unknown@formal@none@1@S@The only passenger who survived the crash was Cecelia Cichan, then 4, of Tempe, Ariz., whose parents and brother died in the crash.@@@@1@23@@oe@2-2-2013
20281011@unknown@formal@none@1@S@She now lives with relatives in Alabama.@@@@1@7@@oe@2-2-2013
20282001@unknown@formal@none@1@S@Sun Myung Moon, the Korean evangelist-industrialist who in 1954 founded the Unification Church, remains the mystery man behind a multimillion-dollar political and publishing operation based in this country and catering to the American right.@@@@1@34@@oe@2-2-2013
20282002@unknown@formal@none@1@S@But there may be less there than meets the eye.@@@@1@10@@oe@2-2-2013
20282003@unknown@formal@none@1@S@Mr. Moon planned to convert millions of Americans to his unique brand of Christianity -- in which he plays the role of Old Testament-style temporal, political messiah -- and then to make the U.S. part of a unified international theocracy.@@@@1@40@@oe@2-2-2013
20282004@unknown@formal@none@1@S@His original strategy (in itself a brilliant innovation for spreading a religion) was to create new economic enterprises each time he wanted to extend and fund his various religious missions.@@@@1@30@@oe@2-2-2013
20282005@unknown@formal@none@1@S@Tax-exempt airport and street-corner solicitations were intended only to provide start-up funds.@@@@1@12@@oe@2-2-2013
20282006@unknown@formal@none@1@S@More stable industries were to build an economically viable infrastructure for the Moon movement in North America, as they had in Japan and South Korea.@@@@1@25@@oe@2-2-2013
20282007@unknown@formal@none@1@S@Then he would move his movement to Europe.@@@@1@8@@oe@2-2-2013
20282008@unknown@formal@none@1@S@But that was not to be.@@@@1@6@@oe@2-2-2013
20282009@unknown@formal@none@1@S@Throughout the 1970s and early 1980s spokesmen for both the Unification Church and its opponents in the anticult movement gave wildly exaggerated membership figures.@@@@1@24@@oe@2-2-2013
20282010@unknown@formal@none@1@S@Their legacy lives on.@@@@1@4@@oe@2-2-2013
20282011@unknown@formal@none@1@S@It is still common to read in the press that the church has 10,000 or more full-time American members and 25,000 "associates."@@@@1@22@@oe@2-2-2013
20282012@unknown@formal@none@1@S@Some estimates have gone as high as 80,000 members.@@@@1@9@@oe@2-2-2013
20282013@unknown@formal@none@1@S@But internal church documents clearly show that at its publicity-seeking heights, as when it organized a spectacular Yankee Stadium bicentennial rally in 1976, there actually were only about 2,000 full-time Unification Church members in the U.S.@@@@1@36@@oe@2-2-2013
20282014@unknown@formal@none@1@S@Mr. Moon's support for a Watergate-beleaguered Richard Nixon, the Koreagate scandal, and his prison sentence for income-tax evasion did not help the church's recruitment efforts.@@@@1@25@@oe@2-2-2013
20282015@unknown@formal@none@1@S@Defections, burnouts, and abduction "deprogrammings" kept member turnover high.@@@@1@9@@oe@2-2-2013
20282016@unknown@formal@none@1@S@That the membership number has even kept close to its 1976 size is the result of the "graying" of the church.@@@@1@21@@oe@2-2-2013
20282017@unknown@formal@none@1@S@Many of the enthusiastic young "Moonies" of the Nixon era who remained faithful to Father Moon are now parents, producing new members by procreation rather than conversion.@@@@1@27@@oe@2-2-2013
20282018@unknown@formal@none@1@S@The reputed wealth of the Unification Church is another matter of contention.@@@@1@12@@oe@2-2-2013
20282019@unknown@formal@none@1@S@For a while in the 1970s it seemed Mr. Moon was on a spending spree, with such purchases as the former New Yorker Hotel and its adjacent Manhattan Center; a fishing/processing conglomerate with branches in Alaska, Massachusetts, Virginia and Louisiana; a former Christian Brothers monastery and the Seagram family mansion (both picturesquely situated on the Hudson River); shares in banks from Washington to Uruguay; a motion picture production company, and newspapers, such as the Washington Times, the New York City Tribune (originally the News World), and the successful Spanish-language Noticias del Mundo.@@@@1@92@@oe@2-2-2013
20282020@unknown@formal@none@1@S@Yet these purchases can be misleading.@@@@1@6@@oe@2-2-2013
20282021@unknown@formal@none@1@S@Most were obtained with huge inputs of church money from South Korea and Japan, minimum cash downpayments and sizable mortgages.@@@@1@20@@oe@2-2-2013
20282022@unknown@formal@none@1@S@Those teams of young fund-raisers selling flowers, peanuts or begging outright at traffic intersections brought in somewhere near $20 million a year during the mid-to-late 1970s, but those revenues were a pittance compared to the costs of Mr. Moon's lavish international conferences, speaking tours, and assorted land buys.@@@@1@48@@oe@2-2-2013
20282023@unknown@formal@none@1@S@Only his factories in Japan and Korea, employing his followers at subsistence wages and producing everything from rifles to ginseng to expensive marble vases, kept the money flowing westward.@@@@1@29@@oe@2-2-2013
20282024@unknown@formal@none@1@S@Virginia Commonwealth University sociologist David Bromley, who more than any other researcher has delved into the complex world of Unificationist finances, has concluded that profitable operations in the U.S. have been the exceptions rather than the rule.@@@@1@37@@oe@2-2-2013
20282025@unknown@formal@none@1@S@Likewise, journalists John Burgess and Michael Isikoff of the Washington Post have estimated that at least $800 million was transferred from Japan to the U.S. to deal with the church's annual operating losses in this country.@@@@1@36@@oe@2-2-2013
20282026@unknown@formal@none@1@S@Mr. Moon's two English-language U.S. newspapers illustrate the scope of this financial drain.@@@@1@13@@oe@2-2-2013
20282027@unknown@formal@none@1@S@Start-up costs for the Washington Times alone were close to $50 million, and the total amount lost in this journalistic black hole was estimated at $150 million by 1984.@@@@1@29@@oe@2-2-2013
20282028@unknown@formal@none@1@S@Since then, Moon's organization has inaugurated a pair of high-quality glossy opinion magazines, The World and I and Insight, which are a further drain.@@@@1@24@@oe@2-2-2013
20282029@unknown@formal@none@1@S@Insiders say that not even their editors know for sure how much these show-piece publications, along with the newspapers, have cost Mr. Moon.@@@@1@23@@oe@2-2-2013
20282030@unknown@formal@none@1@S@Many American church-owned businesses, such as a $30 million factory to build fishing vessels, are defunct.@@@@1@16@@oe@2-2-2013
20282031@unknown@formal@none@1@S@Some components of the American church had their budgets cut in half last year and again this year.@@@@1@18@@oe@2-2-2013
20282032@unknown@formal@none@1@S@The relatively small academic conferences that have attracted conservative guests -- and press scrutiny -- in recent years are much more narrowly targeted and austere than the thousand-person get-togethers in fancy digs and exotic locales of years past.@@@@1@38@@oe@2-2-2013
20282033@unknown@formal@none@1@S@I attended several of these in the dual role as a presenter of research findings as well as an investigator of my hosts.@@@@1@23@@oe@2-2-2013
20282034@unknown@formal@none@1@S@(Mr. Moon's Paragon House eventually even published three of my co-edited books on religion and politics.)@@@@1@16@@oe@2-2-2013
20282035@unknown@formal@none@1@S@According to veteran watchers of Unificationist affairs, such as Dr. J. Gordon Melton, director of the Institute for the Study of American Religion, almost all operations are being drastically reduced as Mr. Moon now concentrates more on developing his empire in the Far East.@@@@1@44@@oe@2-2-2013
20282036@unknown@formal@none@1@S@"Everything," one non-"Moonie" senior consultant to the Unification Church recently told me in an interview, "is going back to Korea and Japan."@@@@1@22@@oe@2-2-2013
20282037@unknown@formal@none@1@S@(Europe had proved even less hospitable than North America.@@@@1@9@@oe@2-2-2013
20282038@unknown@formal@none@1@S@European politicians were less reluctant to have their governments investigate and harass new religions.)@@@@1@14@@oe@2-2-2013
20282039@unknown@formal@none@1@S@So Mr. Moon is in retreat, refocusing on the Far East.@@@@1@11@@oe@2-2-2013
20282040@unknown@formal@none@1@S@South Korea and Japan continue to be profitable.@@@@1@8@@oe@2-2-2013
20282041@unknown@formal@none@1@S@Moon's Tong'Il industry conglomerate is now investing heavily in China, where church accountants have high hopes of expanding and attracting converts even in the wake of the bloody massacre in Tiananmen Square.@@@@1@32@@oe@2-2-2013
20282042@unknown@formal@none@1@S@Panda Motors is one such investment.@@@@1@6@@oe@2-2-2013
20282043@unknown@formal@none@1@S@According to senior consultants to the church, Mr. Moon has successfully negotiated a joint venture with the Chinese government to build an automobile-parts plant in Guangdong Province, an area of China with a substantial Korean minority.@@@@1@36@@oe@2-2-2013
20282044@unknown@formal@none@1@S@Mr. Moon has agreed to put up $10 million a year for 25 years and keep the profits in China.@@@@1@20@@oe@2-2-2013
20282045@unknown@formal@none@1@S@In return, he has the government's blessing to build churches and spread Unificationism in that country.@@@@1@16@@oe@2-2-2013
20282046@unknown@formal@none@1@S@Whatever respectability and ties to intellectuals and opinion-makers the publications and conferences bring really are salvage -- not the Rev. Moon's original final goals, but the ones for which he will have to settle.@@@@1@34@@oe@2-2-2013
20282047@unknown@formal@none@1@S@Mr. Shupe is co-author (with David G. Bromley) of "`Moonies' in America: Cult, Church, and Crusade" and "Strange Gods: The Great American Cult Scare.@@@@1@24@@oe@2-2-2013
20283001@unknown@formal@none@1@S@The Manville Personal Injury Settlement Trust said it is considering several ways to ease a liquidity crunch that could include the sale of Manville Corp. to a third party.@@@@1@29@@oe@2-2-2013
20283002@unknown@formal@none@1@S@In a filing with the Securities and Exchange Commission, the majority holder of Manville acknowledged that the cash portion of its initial funding of $765 million will be depleted next year, and that alternative sources of funds will be necessary to meet its obligations.@@@@1@44@@oe@2-2-2013
20283003@unknown@formal@none@1@S@The trust, which was created as part of Manville's bankruptcy-law reorganization to compensate victims of asbestos-related diseases, ultimately expects to receive $2.5 billion from Manville, but its cash flow from investments has so far lagged behind its payments to victims.@@@@1@40@@oe@2-2-2013
20283004@unknown@formal@none@1@S@Spokespersons for both the trust and the company refused to comment on whether any talks with a possible acquirer of Manville had actually taken place.@@@@1@25@@oe@2-2-2013
20283005@unknown@formal@none@1@S@The trust is considering a sale of its Manville holdings, but Manville has the right of first refusal on any sales of its stock held by the trust.@@@@1@28@@oe@2-2-2013
20283006@unknown@formal@none@1@S@Manville, a forest and building products concern, has offered to pay the trust $500 million for a majority of Manville's convertible preferred stock.@@@@1@23@@oe@2-2-2013
20283007@unknown@formal@none@1@S@Manville and the trust are discussing the offer, but no decision has been made.@@@@1@14@@oe@2-2-2013
20283008@unknown@formal@none@1@S@The filing also said the trust is considering a sale of Manville securities in the open market; an extraordinary dividend on the common stock; or a recapitalization of Manville.@@@@1@29@@oe@2-2-2013
20283009@unknown@formal@none@1@S@The Soviet Union's jobless rate is soaring to 27% in some areas, Pravda said.@@@@1@14@@oe@2-2-2013
20283010@unknown@formal@none@1@S@It said the situation is caused by efforts to streamline bloated factory payrolls.@@@@1@13@@oe@2-2-2013
20283011@unknown@formal@none@1@S@Unemployment has reached 27.6% in Azerbaijan, 25.7% in Tadzhikistan, 22.8% in Uzbekistan, 18.8% in Turkmenia, 18% in Armenia and 16.3% in Kirgizia, the Communist Party newspaper said.@@@@1@27@@oe@2-2-2013
20283012@unknown@formal@none@1@S@All are non-Russian republics along the southern border of the Soviet Union, and all but Kirgizia have reported rioting in the past six months.@@@@1@24@@oe@2-2-2013
20283013@unknown@formal@none@1@S@The newspaper said it is past time for the Soviet Union to create unemployment insurance and retraining programs like those of the West.@@@@1@23@@oe@2-2-2013
20283014@unknown@formal@none@1@S@Pravda gave no estimate for overall unemployment but said an "Association of the Unemployed" has cropped up that says the number of jobless is 23 million Soviets, or 17% of the work force.@@@@1@33@@oe@2-2-2013
20283015@unknown@formal@none@1@S@An 11-week dispute involving Australia's 1,640 domestic pilots has slashed airline earnings and crippled much of the continent's tourist industry.@@@@1@20@@oe@2-2-2013
20283016@unknown@formal@none@1@S@"The only people who are flying are those who have to," said Frank Moore, chairman of the Australian Tourist Industry Association.@@@@1@21@@oe@2-2-2013
20283017@unknown@formal@none@1@S@He added: "How is a travel agent going to sell a holiday when he cannot guarantee a return flight?"@@@@1@19@@oe@2-2-2013
20283018@unknown@formal@none@1@S@Transport giant TNT, which owns half of one of the country's two major domestic carriers, said the cost of the dispute had been heavy, cutting TNT's profits 70% to $12 million in the three months to Sept. 30.@@@@1@38@@oe@2-2-2013
20283019@unknown@formal@none@1@S@Brazilian financier Naji Nahas, who was arrested on Monday after 102 days in hiding, is likely to be interrogated next week by the Brazilian judiciary.@@@@1@25@@oe@2-2-2013
20283020@unknown@formal@none@1@S@Mr. Nahas, who single-handedly provoked a one-day closure of Brazil's stock markets in June when he failed to honor a debt of $31.1 million owed to his brokers, yesterday blamed his predicament on the president of the Sao Paulo stock exchange; a few days before Mr. Nahas's failure, the exchange raised the required margin on stock-margin transactions.@@@@1@57@@oe@2-2-2013
20283021@unknown@formal@none@1@S@China's parliament ousted two Hong Kong residents from a panel drafting a new constitution for the colony.@@@@1@17@@oe@2-2-2013
20283022@unknown@formal@none@1@S@The two, Szeto Wah and Martin Lee, were deemed unfit because they had condemned China's crackdown on its pro-democracy movement.@@@@1@20@@oe@2-2-2013
20283023@unknown@formal@none@1@S@The committee is formulating Hong Kong's constitution for when it reverts to Chinese control in 1997, and Chinese lawmakers said the two can only return if they "abandon their antagonistic stand against the Chinese government and their attempt to nullify the Sino-British joint declaration on Hong Kong."@@@@1@47@@oe@2-2-2013
20283024@unknown@formal@none@1@S@NUCLEAR REACTOR FOR ISRAEL?@@@@1@4@@oe@2-2-2013
20283025@unknown@formal@none@1@S@Israeli officials confirmed that Energy Minister Moshe Shahal and his Canadian counterpart, Jake Epp, discussed a possible Israeli purchase of a $1.1 billion Canadian nuclear reactor for producing electricity.@@@@1@29@@oe@2-2-2013
20283026@unknown@formal@none@1@S@However, a Canadian Embassy official in Tel Aviv said that Canada was unlikely to sell the Candu heavy-water reactor to Israel since Israel hasn't signed the Nuclear Non-Proliferation Treaty.@@@@1@29@@oe@2-2-2013
20283027@unknown@formal@none@1@S@Israel has been accused in the past of using subterfuge to seek elements needed to develop nuclear weapons.@@@@1@18@@oe@2-2-2013
20283028@unknown@formal@none@1@S@The South Korean government is signing a protocol today establishing formal diplomatic relations with Poland.@@@@1@15@@oe@2-2-2013
20283029@unknown@formal@none@1@S@The two are also signing a trade agreement.@@@@1@8@@oe@2-2-2013
20283030@unknown@formal@none@1@S@South Korean government officials said they don't expect that Seoul can loan money to Warsaw, but it can "offer experience."@@@@1@20@@oe@2-2-2013
20283031@unknown@formal@none@1@S@Poland is the second Communist nation to recognize the Seoul government; South Korea established diplomatic relations with Hungary in February 1989.@@@@1@21@@oe@2-2-2013
20283032@unknown@formal@none@1@S@Venezuela will hold a debt-equity auction Friday, with 32 potential bidders participating.@@@@1@12@@oe@2-2-2013
20283033@unknown@formal@none@1@S@Earlier this year, Venezuela announced it was opening up debt-equity swaps to foreign investors but said the program would be limited to a net disbursement of $600 million a year.@@@@1@30@@oe@2-2-2013
20283034@unknown@formal@none@1@S@Friday's auction will be limited to $150 million disbursed by the Central Bank to potential investors.@@@@1@16@@oe@2-2-2013
20283035@unknown@formal@none@1@S@The office of foreign investment has authorized some $1.78 billion worth of investment proposals, said Edwin Perozo, superintendent of foreign investment.@@@@1@21@@oe@2-2-2013
20283036@unknown@formal@none@1@S@Most of the proposals are in tourism, basic industry and fishery and agro-industry projects, he said.@@@@1@16@@oe@2-2-2013
20283037@unknown@formal@none@1@S@Under the debt-equity program, potential investors will submit sealed bids on the percentage of discount they are willing to purchase the debt at, and the bids will be allocated based on these discount offers.@@@@1@34@@oe@2-2-2013
20283038@unknown@formal@none@1@S@The Venezuelan central bank set a 30% floor on the bidding.@@@@1@11@@oe@2-2-2013
20283039@unknown@formal@none@1@S@A song by American singer Tracy Chapman praising jailed black leader Nelson Mandela was banned from South African state radio and television.@@@@1@22@@oe@2-2-2013
20283040@unknown@formal@none@1@S@The South African Broadcasting Corp. said the song "Freedom Now" was "undesirable for broadcasting." . . .@@@@1@17@@oe@2-2-2013
20283041@unknown@formal@none@1@S@Britain's House of Commons passed a law that will force English soccer fans to carry identity cards to enter stadiums.@@@@1@20@@oe@2-2-2013
20283042@unknown@formal@none@1@S@The "anti-hooligan" law, which would deprive troublemakers of cards, must be ratified by the House of Lords and is expected to become effective early next year.@@@@1@26@@oe@2-2-2013
20284001@unknown@formal@none@1@S@A federal judge ruled that Imelda Marcos wasn't brought to the U.S. against her will and that marital privileges, which protect spouses from incriminating each other, don't apply in her case.@@@@1@31@@oe@2-2-2013
20284002@unknown@formal@none@1@S@As a result, Judge John F. Keenan of New York ordered Mrs. Marcos to turn over to the court all pleadings and documents she may have filed in foreign countries in opposition to U.S. requests for evidence.@@@@1@37@@oe@2-2-2013
20284003@unknown@formal@none@1@S@Mrs. Marcos had claimed that she didn't have to turn over the documents because she was brought here involuntarily and because providing the materials would violate her marital privilege.@@@@1@29@@oe@2-2-2013
20284004@unknown@formal@none@1@S@In 1988, a year and a half after Mrs. Marcos and her late husband, Ferdinand Marcos, the ousted president of the Philippines, fled the Philippines for Hawaii, they were charged with racketeering, conspiracy, obstruction of justice and mail fraud in a scheme in which they allegedly embezzled more than $100 million from their homeland.@@@@1@54@@oe@2-2-2013
20284005@unknown@formal@none@1@S@Much of the money was fraudulently concealed through purchases of prime Manhattan real estate, federal prosecutors have charged.@@@@1@18@@oe@2-2-2013
20284006@unknown@formal@none@1@S@Mrs. Marcos's trial is expected to begin in March.@@@@1@9@@oe@2-2-2013
20284007@unknown@formal@none@1@S@U.S. law requires criminal defendants to turn over foreign documents such as those sought in the Marcos case.@@@@1@18@@oe@2-2-2013
20284008@unknown@formal@none@1@S@The law is meant to overcome delays caused by defendants' use of foreign procedures to block U.S. requests for records, Judge Keenan said in his opinion.@@@@1@26@@oe@2-2-2013
20284009@unknown@formal@none@1@S@For instance, the documents could involve foreign business dealings or bank accounts.@@@@1@12@@oe@2-2-2013
20284010@unknown@formal@none@1@S@The U.S. has charged that the Marcoses' alleged crimes involved bank accounts in the Philippines, Hong Kong, the U.S. and other countries.@@@@1@22@@oe@2-2-2013
20284011@unknown@formal@none@1@S@On the allegation of kidnapping, Judge Keenan wrote, "The suggestion that Mrs. Marcos was brought to this country against her will is unsupported by affidavit or affirmation."@@@@1@27@@oe@2-2-2013
20284012@unknown@formal@none@1@S@The judge also said the two marital testimonial privileges cited by Mrs. Marcos don't apply.@@@@1@15@@oe@2-2-2013
20284013@unknown@formal@none@1@S@The first one permits a witness to refuse to testify against her spouse.@@@@1@13@@oe@2-2-2013
20284014@unknown@formal@none@1@S@But Judge Keenan said that privilege's purpose is "fostering harmony in marriage."@@@@1@12@@oe@2-2-2013
20284015@unknown@formal@none@1@S@Because Mr. Marcos died Sept. 28, the privilege can no longer apply, the judge said.@@@@1@15@@oe@2-2-2013
20284016@unknown@formal@none@1@S@The second marital privilege cited by Mrs. Marcos protects confidential communications between spouses.@@@@1@13@@oe@2-2-2013
20284017@unknown@formal@none@1@S@But Judge Keenan said that privilege is meant to protect private utterances -- not litigation papers filed with foreign governments, as Mrs. Marcos's attorneys maintained.@@@@1@25@@oe@2-2-2013
20284018@unknown@formal@none@1@S@Though Judge Keenan threw out most of Mrs. Marcos's objections, he agreed with one of her concerns: that turning over the foreign documents could violate the defendant's constitutional right against self-incrimination.@@@@1@31@@oe@2-2-2013
20284019@unknown@formal@none@1@S@As a result, he said he will examine the Marcos documents sought by the prosecutors to determine whether turning over the filings is self-incrimination.@@@@1@24@@oe@2-2-2013
20284020@unknown@formal@none@1@S@Judge Keenan also directed the prosecutors to show that Mrs. Marcos's Fifth Amendment right against self-incrimination won't be violated.@@@@1@19@@oe@2-2-2013
20284021@unknown@formal@none@1@S@Mrs. Marcos's attorney in New York, Sandor Frankel, declined to comment on the ruling.@@@@1@14@@oe@2-2-2013
20284022@unknown@formal@none@1@S@Mrs. Marcos hasn't admitted that she filed any documents such as those sought by the government.@@@@1@16@@oe@2-2-2013
20284023@unknown@formal@none@1@S@Charles LaBella, the assistant U.S. attorney prosecuting the Marcos case, didn't return phone calls seeking comment.@@@@1@16@@oe@2-2-2013
20284024@unknown@formal@none@1@S@U.S. AND BRITISH LAW FIRMS announce rare joint venture in Tokyo.@@@@1@11@@oe@2-2-2013
20284025@unknown@formal@none@1@S@Sidley & Austin, a leading Chicago-based law firm, and Ashurst Morris Crisp, a midsized London firm of solicitors, are scheduled today to announce plans to open a joint office in Tokyo.@@@@1@31@@oe@2-2-2013
20284026@unknown@formal@none@1@S@The firms will be registered under Japanese law as foreign legal consultants and their practice with Japanese clients will be limited to advising them on matters of foreign law.@@@@1@29@@oe@2-2-2013
20284027@unknown@formal@none@1@S@The office may also be able to advise foreign and multinational clients on international law and general matters.@@@@1@18@@oe@2-2-2013
20284028@unknown@formal@none@1@S@The office will provide "one-stop shopping" for Japanese financial institutions and other clients seeking advice on access to the world capital markets, according to A. Bruce Schimberg, Sidley's senior banking specialist, who will move to Tokyo from Chicago to open the office next year.@@@@1@44@@oe@2-2-2013
20284029@unknown@formal@none@1@S@The Sidley-Ashurst venture will also be staffed by another Sidley partner specializing in corporate law, a partner from Ashurst concentrating on acquisitions and a Japanese attorney.@@@@1@26@@oe@2-2-2013
20284030@unknown@formal@none@1@S@The office will tap the resources of Sidley's 700 lawyers in the U.S., London and Singapore as well as the 400 Ashurst staff members in London and Brussels.@@@@1@28@@oe@2-2-2013
20284031@unknown@formal@none@1@S@Ashurst is new to the Far East.@@@@1@7@@oe@2-2-2013
20284032@unknown@formal@none@1@S@Sidley will maintain its association with the Hashidate Law Office in Tokyo.@@@@1@12@@oe@2-2-2013
20284033@unknown@formal@none@1@S@THE UNITED AUTO WORKERS said it will seek a rehearing of a U.S. appellate court ruling against the union's claim that the state of Michigan engages in wage-discrimination against female employees.@@@@1@31@@oe@2-2-2013
20284034@unknown@formal@none@1@S@A three-judge panel of the court in Cincinnati made the ruling Saturday.@@@@1@12@@oe@2-2-2013
20284035@unknown@formal@none@1@S@The UAW is seeking a hearing by the full 14-judge panel.@@@@1@11@@oe@2-2-2013
20284036@unknown@formal@none@1@S@The union sued the state in November 1985, alleging that it intentionally segregated job classifications by sex and paid employees in predominantly female jobs less than males in comparable jobs.@@@@1@30@@oe@2-2-2013
20284037@unknown@formal@none@1@S@The UAW also charged that the state applied its own standards for determining pay in a discriminatory manner.@@@@1@18@@oe@2-2-2013
20284038@unknown@formal@none@1@S@In November 1987, a district court judge in Detroit ruled against the UAW.@@@@1@13@@oe@2-2-2013
20284039@unknown@formal@none@1@S@The union is the bargaining representative for more than 20,000 Michigan state employees.@@@@1@13@@oe@2-2-2013
20284040@unknown@formal@none@1@S@NEW JERSEY MERGER:@@@@1@3@@oe@2-2-2013
20284041@unknown@formal@none@1@S@One of the largest law firms in central New Jersey has been created through the merger of Norris, McLaughlin & Marcus, a 41-lawyer firm, and Manger, Kalison, McBride & Webb, a health-care specialty law firm with 14 lawyers.@@@@1@38@@oe@2-2-2013
20284042@unknown@formal@none@1@S@Norris McLaughlin is a general-practice firm that has expanded recently into such specialties as banking, labor and environmental work.@@@@1@19@@oe@2-2-2013
20284043@unknown@formal@none@1@S@The merged firm will carry Norris McLaughlin's name.@@@@1@8@@oe@2-2-2013
20284044@unknown@formal@none@1@S@DRUG WARS:@@@@1@2@@oe@2-2-2013
20284045@unknown@formal@none@1@S@A Texas legislator proposes color-coding drivers' licenses of some drug offenders.@@@@1@11@@oe@2-2-2013
20284046@unknown@formal@none@1@S@The bill would authorize courts to order the licenses as a condition of probation.@@@@1@14@@oe@2-2-2013
20284047@unknown@formal@none@1@S@State Senator J.E. "Buster" Brown, a Republican who is running for Texas attorney general, introduced the bill.@@@@1@17@@oe@2-2-2013
20284048@unknown@formal@none@1@S@He said an altered license would be an "embarrassment" to teenagers and young adults and would act as a deterrant to drug use.@@@@1@23@@oe@2-2-2013
20284049@unknown@formal@none@1@S@Richard Avena, executive director of the Texas Civil Liberties Union, called the proposal "political gimmickry," and said it fails to recognize the drug problem as a health issue.@@@@1@28@@oe@2-2-2013
20285001@unknown@formal@none@1@S@The amendment, offered by Rep. Douglas Bosco (D., Calif.), was approved 283-132 during debate on a bill designed to strengthen the Transportation Department's authority in dealing with leveraged buy-outs of airlines.@@@@1@31@@oe@2-2-2013
20285002@unknown@formal@none@1@S@The bill would require the agency to block the acquisition of 15% or more of an airline's stock if the purchase threatened safety, reduced the carrier's ability to compete, or put the airline under foreign control.@@@@1@36@@oe@2-2-2013
20285003@unknown@formal@none@1@S@Debate on the legislation, which faces a veto threat from President Bush, is to continue today.@@@@1@16@@oe@2-2-2013
20285004@unknown@formal@none@1@S@The amendment would require the department to block the purchase of a major airline by anyone who has run two or more carriers that have filed for protection from creditors under Chapter 11 of the Bankruptcy Code.@@@@1@37@@oe@2-2-2013
20285005@unknown@formal@none@1@S@In 1983, Texas Air's Continental Airlines filed for bankruptcy.@@@@1@9@@oe@2-2-2013
20285006@unknown@formal@none@1@S@Earlier this year, Texas Air's Eastern Airlines filed for bankruptcy.@@@@1@10@@oe@2-2-2013
20285007@unknown@formal@none@1@S@"This ought to be subtitled the `Don't let Frank Lorenzo take over another airline' amendment," said Rep. James Oberstar (D., Minn.), chairman of the House aviation subcommittee, who argued that the provision was unnecessary because the bill already would give the department ample power to block undesirable deals.@@@@1@48@@oe@2-2-2013
20286001@unknown@formal@none@1@S@For years, a strict regimen governed the staff meetings at Nissan Motor Co.'s technical center in Tokyo's western suburbs.@@@@1@19@@oe@2-2-2013
20286002@unknown@formal@none@1@S@Employees wore identification badges listing not only their names but also their dates of hire.@@@@1@15@@oe@2-2-2013
20286003@unknown@formal@none@1@S@No one could voice an opinion until everybody with more seniority had spoken first, so younger employees -- often the most enthusiastic and innovative -- seldom spoke up at all.@@@@1@30@@oe@2-2-2013
20286004@unknown@formal@none@1@S@But in 1986, the badges and the "don't speak out of turn" rule were abolished -- early steps in a cultural revolution still rolling on with all the subtlety of a freight train.@@@@1@33@@oe@2-2-2013
20286005@unknown@formal@none@1@S@In recent years, Nissan has instituted flex-time work schedules and allowed employees to dress casually, even in blue jeans.@@@@1@19@@oe@2-2-2013
20286006@unknown@formal@none@1@S@A rule forbidding staffers to own competitors' cars has been lifted, and now many designers drive foreign cars to get useful ideas.@@@@1@22@@oe@2-2-2013
20286007@unknown@formal@none@1@S@Nissan's decades-old corporate song filled with references to Mount Fuji has been scrapped in favor of a snappy tune sung by a popular Japanese vocalist.@@@@1@25@@oe@2-2-2013
20286008@unknown@formal@none@1@S@And in a Japanese corporate first, Nissan recently opened the first coed company dormitory for single employees at the suburban Tokyo technical center.@@@@1@23@@oe@2-2-2013
20286009@unknown@formal@none@1@S@"We had lots of internal debate about this one," concedes Tadahiko Fukuyama, a senior public-relations official.@@@@1@16@@oe@2-2-2013
20286010@unknown@formal@none@1@S@"But in the end, top management decided to follow the voice of the younger generation."@@@@1@15@@oe@2-2-2013
20286011@unknown@formal@none@1@S@This corporate glasnost is a big reason Nissan, after years of making lackluster cars and lousy profits, has loosened up its rigid ways and now is riding a string of hits, ranging from the sleek Maxima sedan and Porsche-like 300ZX to the whimsically nostalgic Pao, a minicar sold only in Japan.@@@@1@51@@oe@2-2-2013
20286012@unknown@formal@none@1@S@The company's turnaround is far from complete; many crucial tests are just beginning.@@@@1@13@@oe@2-2-2013
20286013@unknown@formal@none@1@S@But its surprising progress so far holds important lessons for companies in trouble.@@@@1@13@@oe@2-2-2013
20286014@unknown@formal@none@1@S@The big one: A company's culture can't be radically changed unless top management first admits that things have gone badly awry and then publicly leads the charge.@@@@1@27@@oe@2-2-2013
20286015@unknown@formal@none@1@S@Atsushi Muramatsu, Nissan's executive vice president for finance, helped set the tone in December 1986, when the company was heading toward the first operating loss by a Japanese auto maker since the nation's postwar recovery.@@@@1@35@@oe@2-2-2013
20286016@unknown@formal@none@1@S@"This is a time of self-criticism to discover what is wrong with us," he said.@@@@1@15@@oe@2-2-2013
20286017@unknown@formal@none@1@S@Yutaka Kume, who took the helm as Nissan's president in June 1985, added simply, "I am deeply disappointed."@@@@1@18@@oe@2-2-2013
20286018@unknown@formal@none@1@S@No wonder.@@@@1@2@@oe@2-2-2013
20286019@unknown@formal@none@1@S@Nissan, Japan's second-largest auto maker and the world's fourth-largest, was getting beat up not only by its bigger rival, Toyota Motor Corp., but also by Honda Motor Co., the most successful Japanese car company in the U.S. but a relative pipsqueak in Japan.@@@@1@43@@oe@2-2-2013
20286020@unknown@formal@none@1@S@Nissan's market share in Japan had been dropping year by year since the beginning of the decade.@@@@1@17@@oe@2-2-2013
20286021@unknown@formal@none@1@S@Its U.S. sales sagged, partly because of price increases due to the rising yen.@@@@1@14@@oe@2-2-2013
20286022@unknown@formal@none@1@S@Worst of all, Nissan was preoccupied with management infighting, cronyism and corporate rigidity.@@@@1@13@@oe@2-2-2013
20286023@unknown@formal@none@1@S@Consider the experience of Satoko Kitada, a 30-year-old designer of vehicle interiors who joined Nissan in 1982.@@@@1@17@@oe@2-2-2013
20286024@unknown@formal@none@1@S@At that time, tasks were assigned strictly on the basis of seniority.@@@@1@12@@oe@2-2-2013
20286025@unknown@formal@none@1@S@"The oldest designer got to work on the dashboard," she recalls.@@@@1@11@@oe@2-2-2013
20286026@unknown@formal@none@1@S@"The next level down did doors.@@@@1@6@@oe@2-2-2013
20286027@unknown@formal@none@1@S@If a new person got to work on part of the speedometer, that was a big deal."@@@@1@17@@oe@2-2-2013
20286028@unknown@formal@none@1@S@This system produced boring, boxy cars that consumers just weren't buying.@@@@1@11@@oe@2-2-2013
20286029@unknown@formal@none@1@S@Desperately hoping to spark sales, Nissan transferred 5,000 middle managers and plant workers to dealerships.@@@@1@15@@oe@2-2-2013
20286030@unknown@formal@none@1@S@Meanwhile, President Kume ordered everyone from top executives to rookie designers to go "town watching," to visit chic parts of Tokyo to try to gain insights into developing cars for trend-setters.@@@@1@31@@oe@2-2-2013
20286031@unknown@formal@none@1@S@Some town-watching excursions were downright comic.@@@@1@6@@oe@2-2-2013
20286032@unknown@formal@none@1@S@One group of middle-aged manufacturing men from the company's Zama plant outside Tokyo was supposed to check out a trendy restaurant in the city.@@@@1@24@@oe@2-2-2013
20286033@unknown@formal@none@1@S@But when they arrived at the door, all were afraid to go in, fearing that they would be out of place.@@@@1@21@@oe@2-2-2013
20286034@unknown@formal@none@1@S@Other trips were more productive.@@@@1@5@@oe@2-2-2013
20286035@unknown@formal@none@1@S@Mr. Kume himself visited Honda's headquarters in Tokyo's upscale Aoyama district.@@@@1@11@@oe@2-2-2013
20286036@unknown@formal@none@1@S@He liked the well-lighted lobby display of Honda's cars and trucks so much that he had Nissan's gloomy lobby exhibit refurbished.@@@@1@21@@oe@2-2-2013
20286037@unknown@formal@none@1@S@Later, Nissan borrowed other Honda practices, including an engineering "idea contest" to promote inventiveness.@@@@1@14@@oe@2-2-2013
20286038@unknown@formal@none@1@S@One engineer developed a "crab car" that moves sideways.@@@@1@9@@oe@2-2-2013
20286039@unknown@formal@none@1@S@Such sudden cultural shifts may come across as a bit forced, but they seem to be genuine -- so much so, in fact, that some older employees have resisted.@@@@1@29@@oe@2-2-2013
20286040@unknown@formal@none@1@S@Nissan handled the die-hards in a typically Japanese fashion: They weren't fired but instead "were neglected," says Kouji Hori, the personnel manager at the Nissan Technical Center.@@@@1@27@@oe@2-2-2013
20286041@unknown@formal@none@1@S@Despite the pain of adjusting, the cultural revolution has begun to yield exciting cars.@@@@1@14@@oe@2-2-2013
20286042@unknown@formal@none@1@S@A year ago, the company completely revamped its near-luxury sedan, the $17,699 Maxima, which competes against a broad range of upscale sedans; it replaced its boxy, pug-nosed body with sleek, aerodynamic lines.@@@@1@32@@oe@2-2-2013
20286043@unknown@formal@none@1@S@Since then, Nissan also has launched new versions of the $13,249 240SX sporty coupe and 300ZX sports car.@@@@1@18@@oe@2-2-2013
20286044@unknown@formal@none@1@S@The restyled 300ZX costs as much as $33,000 and is squared off against the Porche 944, which begins at $41,900.@@@@1@20@@oe@2-2-2013
20286045@unknown@formal@none@1@S@Besides new styling, the new Nissans have more powerful engines and more sophisticated suspension systems.@@@@1@15@@oe@2-2-2013
20286046@unknown@formal@none@1@S@All three new models are outselling their predecessors by wide margins.@@@@1@11@@oe@2-2-2013
20286047@unknown@formal@none@1@S@In its home market, Nissan has grabbed attention with limited-production minicars featuring styling odd enough to be cute.@@@@1@18@@oe@2-2-2013
20286048@unknown@formal@none@1@S@One is the Pao, a tiny coupe with a peelback canvas top and tilted headlights that give it a droopy-eyed look.@@@@1@21@@oe@2-2-2013
20286049@unknown@formal@none@1@S@Nissan initially planned to sell just 10,000 Paos, but sales have passed 50,000, and there's a one-year waiting list for the car.@@@@1@22@@oe@2-2-2013
20286050@unknown@formal@none@1@S@Then, there's the S-Cargo, an offbeat delivery van with a snail-like body that inspired its name.@@@@1@16@@oe@2-2-2013
20286051@unknown@formal@none@1@S@Nissan helped develop a Tokyo restaurant with both vehicles as its design theme.@@@@1@13@@oe@2-2-2013
20286052@unknown@formal@none@1@S@The chairs are S-Cargo seats, and a gift shop sells such items as alarm clocks styled like the Pao's oversized speedometer.@@@@1@21@@oe@2-2-2013
20286053@unknown@formal@none@1@S@All these vehicles have sharply improved Nissan's morale and image -- but haven't done much for its market share.@@@@1@19@@oe@2-2-2013
20286054@unknown@formal@none@1@S@Nissan had 29% of the Japanese car market in 1980 before beginning a depressing eight-year slide that continued through last year.@@@@1@21@@oe@2-2-2013
20286055@unknown@formal@none@1@S@Strong sales so far this year are certain to turn the tide, but even the 25% market share that Nissan expects in 1989 will leave it far below its position at the beginning of the decade.@@@@1@36@@oe@2-2-2013
20286056@unknown@formal@none@1@S@Nissan concedes that it won't recoup all its market-share losses in Japan until at least 1995, and even that timetable might prove optimistic.@@@@1@23@@oe@2-2-2013
20286057@unknown@formal@none@1@S@"Everyone else is going to catch up" with Nissan's innovative designs, says A. Rama Krishna, auto analyst at First Boston (Japan) Ltd.@@@@1@22@@oe@2-2-2013
20286058@unknown@formal@none@1@S@Nissan's pace of new-model hits will slow, he adds, just as arch-rival Toyota unleashes its own batch of new cars.@@@@1@20@@oe@2-2-2013
20286059@unknown@formal@none@1@S@Likewise, in the U.S., Nissan has grabbed 5.2% of the car market so far this year, up from 4.5% a year ago.@@@@1@22@@oe@2-2-2013
20286060@unknown@formal@none@1@S@But even that brings Nissan only to the share it had in 1987, and leaves the company behind its high of 5.5% in 1980 and 1982.@@@@1@26@@oe@2-2-2013
20286061@unknown@formal@none@1@S@Why?@@@@1@1@@oe@2-2-2013
20286062@unknown@formal@none@1@S@So far, Nissan's new-model successes are mostly specialized vehicles with limited sales potential.@@@@1@13@@oe@2-2-2013
20286063@unknown@formal@none@1@S@In compact and subcompact cars, the bread-and-butter sales generators for Japanese auto makers, Nissan still trails Toyota and Honda.@@@@1@19@@oe@2-2-2013
20286064@unknown@formal@none@1@S@Nissan hopes that that will start to change this fall, with its new version of the Stanza compact sedan.@@@@1@19@@oe@2-2-2013
20286065@unknown@formal@none@1@S@The Stanza has been a nonentity compared with Honda's hugely successful Accord and Toyota's Camry.@@@@1@15@@oe@2-2-2013
20286066@unknown@formal@none@1@S@But this year, Honda has revamped the Accord and made it a midsized car.@@@@1@14@@oe@2-2-2013
20286067@unknown@formal@none@1@S@Nissan instead has kept its new Stanza a bit smaller than that and cut the base price 6%; at $11,450, Stanza prices start $749 below the predecessor model yet have a more-powerful engine.@@@@1@33@@oe@2-2-2013
20286068@unknown@formal@none@1@S@Accord prices start at $12,345.@@@@1@5@@oe@2-2-2013
20286069@unknown@formal@none@1@S@Nissan's risk is that its low-base-price strategy might get lost amid the highly publicized rebates being offered by Detroit's Big Three.@@@@1@21@@oe@2-2-2013
20286070@unknown@formal@none@1@S@But "on a new car, a rebate doesn't work well" because it cheapens the vehicle's image, contends Thomas D. Mignanelli, executive vice president of Nissan's U.S. sales arm.@@@@1@28@@oe@2-2-2013
20286071@unknown@formal@none@1@S@Even if the new Stanza succeeds, Nissan will remain behind in the subcompact segment, where its Sentra doesn't measure up to the Honda Civic and Toyota Corolla.@@@@1@27@@oe@2-2-2013
20286072@unknown@formal@none@1@S@Nissan will introduce a completely revamped Sentra next fall.@@@@1@9@@oe@2-2-2013
20286073@unknown@formal@none@1@S@At the opposite end of the market, Nissan launches its luxury Infiniti division on Nov. 8 -- three years after Honda pioneered Japanese luxury cars and two months after Toyota's Lexus went on sale.@@@@1@34@@oe@2-2-2013
20286074@unknown@formal@none@1@S@Nissan started advertising Infiniti fully eight months before the cars hit American showrooms.@@@@1@13@@oe@2-2-2013
20286075@unknown@formal@none@1@S@The ads featured fences, rocks and pussy-willow buds -- almost anything but the cars themselves.@@@@1@15@@oe@2-2-2013
20286076@unknown@formal@none@1@S@The ads have generated some laughs but also plenty of attention because they are so unlike any other U.S. auto advertising.@@@@1@21@@oe@2-2-2013
20286077@unknown@formal@none@1@S@On the other hand, Nissan's sales goals for Infiniti are modest compared with Toyota's targets for Lexus.@@@@1@17@@oe@2-2-2013
20286078@unknown@formal@none@1@S@Nissan will build only about 3,500 of the $38,000 Infiniti Q45 sedans each month, sending about 2,000 of them to the U.S. and keeping the rest for sale in Japan.@@@@1@30@@oe@2-2-2013
20286079@unknown@formal@none@1@S@Toyota wants to sell about 49,000 Lexus LS400 sedans next year in the U.S. alone.@@@@1@15@@oe@2-2-2013
20286080@unknown@formal@none@1@S@"When I saw the Lexus sales projections, I got worried," confesses Takashi Oka, who led the Infiniti development team.@@@@1@19@@oe@2-2-2013
20286081@unknown@formal@none@1@S@But on reflection, Mr. Oka says, he concluded that Nissan is being prudent in following its slow-startup strategy instead of simply copying Lexus.@@@@1@23@@oe@2-2-2013
20286082@unknown@formal@none@1@S@"Infiniti is Nissan's big business move for the 21st century, and we're in no hurry to generate large profits right away," Mr. Oka says.@@@@1@24@@oe@2-2-2013
20286083@unknown@formal@none@1@S@Despite plans to add two new Infiniti models next year, bringing the total to four, Infiniti won't show profits for at least five years, he adds.@@@@1@26@@oe@2-2-2013
20286084@unknown@formal@none@1@S@These days Nissan can afford that strategy, even though profits aren't exactly robust.@@@@1@13@@oe@2-2-2013
20286085@unknown@formal@none@1@S@Nissan had record net income of 114.63 billion yen ($868 million) in the fiscal year ended last March 31, a remarkable recovery from the 20.39 billion yen of two years earlier, when the company lost money on operations.@@@@1@38@@oe@2-2-2013
20286086@unknown@formal@none@1@S@Nissan has increased earnings more than market share by cutting costs and by taking advantage of a general surge in Japanese car sales.@@@@1@23@@oe@2-2-2013
20286087@unknown@formal@none@1@S@But Nissan expects to earn only 120 billion yen in the current fiscal year, a modest increase of 4.7%.@@@@1@19@@oe@2-2-2013
20286088@unknown@formal@none@1@S@The big reason: For all its cost-cutting, Nissan remains less efficient than Toyota.@@@@1@13@@oe@2-2-2013
20286089@unknown@formal@none@1@S@In its last fiscal year, Nissan's profit represented just 2.3% of sales, compared with 4.3% at Toyota.@@@@1@17@@oe@2-2-2013
20286090@unknown@formal@none@1@S@To help close the gap, Nissan recently established a top-level cost-cutting committee.@@@@1@12@@oe@2-2-2013
20286091@unknown@formal@none@1@S@Nissan is the world's only auto maker currently building vehicles in all three of the world's key economic arenas -- the U.S., Japan and Europe.@@@@1@25@@oe@2-2-2013
20286092@unknown@formal@none@1@S@That gives it an enviable strategic advantage, at least until its rivals catch up, but also plenty of managerial headaches.@@@@1@20@@oe@2-2-2013
20286093@unknown@formal@none@1@S@For example, Nissan's U.S. operations include 10 separate subsidiaries -- for manufacturing, sales, design, research, etc. -- that report separately back to Japan.@@@@1@23@@oe@2-2-2013
20286094@unknown@formal@none@1@S@And in July, Nissan's Tennessee manufacturing plant beat back a United Auto Workers organizing effort with aggressive tactics that have left some workers bitter.@@@@1@24@@oe@2-2-2013
20286095@unknown@formal@none@1@S@"We are in a transitional phase from being a Japanese company to becoming an international company based in Japan," says Mr. Muramatsu, the executive vice president.@@@@1@26@@oe@2-2-2013
20286096@unknown@formal@none@1@S@He promises that Nissan will soon establish a holding company overseeing all U.S. operations, just as it's doing in Europe.@@@@1@20@@oe@2-2-2013
20286097@unknown@formal@none@1@S@Perhaps the biggest challenge, however, will be to prevent a return to its former corporate rigidity as its recovery continues.@@@@1@20@@oe@2-2-2013
20286098@unknown@formal@none@1@S@Already, personnel officials are talking about the need for a "Phase Two" cultural-reform effort of some sort.@@@@1@17@@oe@2-2-2013
20286099@unknown@formal@none@1@S@"We are still only half way through the turnaround of this company, and there are many more things to do," President Kume says.@@@@1@23@@oe@2-2-2013
20286100@unknown@formal@none@1@S@He adds, however, that "the momentum we have generated is unstoppable.@@@@1@11@@oe@2-2-2013
20287001@unknown@formal@none@1@S@As expected, Warner Bros. Records said it agreed to form a recorded-music and music-publishing joint venture with former MCA Records Chairman Irving Azoff.@@@@1@23@@oe@2-2-2013
20287002@unknown@formal@none@1@S@Warner said it will provide financing for the venture, but didn't disclose terms.@@@@1@13@@oe@2-2-2013
20287003@unknown@formal@none@1@S@Mr. Azoff hasn't named the company yet, but any records it produces will be distributed by Warner.@@@@1@17@@oe@2-2-2013
20287004@unknown@formal@none@1@S@Warner is part of Warner Communications Inc., which is in the process of being acquired by Time Warner Inc.@@@@1@19@@oe@2-2-2013
20287005@unknown@formal@none@1@S@Mr. Azoff resigned as head of MCA Records, a unit of MCA Inc., in September, and had been discussing a joint venture with both Warner and MCA.@@@@1@27@@oe@2-2-2013
20287006@unknown@formal@none@1@S@In a statement yesterday, Mr. Azoff said he chose Warner, the largest record company, because "their standing in the entertainment industry is second to none.@@@@1@25@@oe@2-2-2013
20288001@unknown@formal@none@1@S@President Bush and Soviet leader Mikhail Gorbachev will hold an informal meeting in early December, a move that should give both leaders a political boost at home.@@@@1@27@@oe@2-2-2013
20288002@unknown@formal@none@1@S@The White House is purposely not calling the meeting a summit so that there won't be any expectation of detailed negotiations or agreements.@@@@1@23@@oe@2-2-2013
20288003@unknown@formal@none@1@S@Rather, senior administration officials said that the unexpected meeting was scheduled at Mr. Bush's request because of his preference for conducting diplomacy through highly personal and informal meetings with other leaders.@@@@1@31@@oe@2-2-2013
20288004@unknown@formal@none@1@S@The two leaders will meet on Dec. 2 and 3, alternating the two days of meetings between a U.S. and a Soviet naval vessel in the Mediterranean Sea.@@@@1@28@@oe@2-2-2013
20288005@unknown@formal@none@1@S@The unusual seaborne meeting won't disrupt plans for a formal summit meeting next spring or summer, at which an arms-control treaty is likely to be completed.@@@@1@26@@oe@2-2-2013
20288006@unknown@formal@none@1@S@In announcing the meeting yesterday, Mr. Bush told reporters at the White House that neither he nor Mr. Gorbachev expects any "substantial decisions or agreements."@@@@1@25@@oe@2-2-2013
20288007@unknown@formal@none@1@S@Instead, he said that the purpose is simply for the two to get "better acquainted" and discuss a wide range of issues without a formal agenda.@@@@1@26@@oe@2-2-2013
20288008@unknown@formal@none@1@S@Despite the informal nature of the session and the calculated effort to hold down expectations, the meeting could pay significant political dividends for both leaders.@@@@1@25@@oe@2-2-2013
20288009@unknown@formal@none@1@S@Mr. Gorbachev badly needs a diversion from the serious economic problems and ethnic unrest he faces at home.@@@@1@18@@oe@2-2-2013
20288010@unknown@formal@none@1@S@American officials have said that a meeting with the leader of the U.S. could help bolster his stature among Soviet politicians and academics, whose support he needs.@@@@1@27@@oe@2-2-2013
20288011@unknown@formal@none@1@S@For his part, Mr. Bush has been criticized regularly at home for moving too slowly and cautiously in reacting to Mr. Gorbachev's reforms and the historic moves away from communism in Eastern Europe.@@@@1@33@@oe@2-2-2013
20288012@unknown@formal@none@1@S@A face-to-face meeting with Mr. Gorbachev should damp such criticism, though it will hardly eliminate it.@@@@1@16@@oe@2-2-2013
20288013@unknown@formal@none@1@S@Senate Majority Leader George Mitchell (D., Maine), who has been the most prominent Democratic critic of Mr. Bush's handling of the Soviet relationship, praised the president for arranging the meeting.@@@@1@30@@oe@2-2-2013
20288014@unknown@formal@none@1@S@But he added: "The mere fact of a meeting doesn't deal with the substance of policy."@@@@1@16@@oe@2-2-2013
20288015@unknown@formal@none@1@S@Mr. Bush said that the December meeting, which was announced simultaneously in Moscow, will be held in the unusual setting of ships at sea to hold down the "fanfare" and force the two sides to limit participation to just small groups of advisers.@@@@1@43@@oe@2-2-2013
20288016@unknown@formal@none@1@S@"By doing it in this manner we can have, I would say, more time without the press of social activities or mandatory joint appearances, things of that nature for public consumption," Mr. Bush said.@@@@1@34@@oe@2-2-2013
20288017@unknown@formal@none@1@S@Soviet Foreign Minister Eduard Shevardnadze, at a news conference in Moscow, said, "As the two sides plan to hold a full-scale summit in late spring-early summer next year, they found it useful, I would say even necessary, to hold an interim informal meeting."@@@@1@43@@oe@2-2-2013
20288018@unknown@formal@none@1@S@Although no specific agreements are expected, Mr. Shevardnadze said "that doesn't mean they will be without an agenda."@@@@1@18@@oe@2-2-2013
20288019@unknown@formal@none@1@S@If the two leaders cover the subjects that have been featured in lower level U.S.-Soviet meetings, their talks would include human rights, Soviet reforms, regional disputes, relations with allies, economic cooperation, arms control, and joint efforts to fight narcotics, terrorism and pollution.@@@@1@42@@oe@2-2-2013
20288020@unknown@formal@none@1@S@The president specifically mentioned U.S. economic advice to Moscow as a possible topic.@@@@1@13@@oe@2-2-2013
20288021@unknown@formal@none@1@S@Mr. Gorbachev has for months been publicly urging the U.S. to drop its restrictions on Soviet trade.@@@@1@17@@oe@2-2-2013
20288022@unknown@formal@none@1@S@He recently told a small group of American businessmen in Moscow that he hoped to sign a general trade agreement with the U.S., possibly at the 1990 summit.@@@@1@28@@oe@2-2-2013
20288023@unknown@formal@none@1@S@The Soviets hope a trade agreement would give them Most-Favored Nation status, which would lower the tariffs on Soviet exports to the U.S.@@@@1@23@@oe@2-2-2013
20288024@unknown@formal@none@1@S@In an unusually candid article about the latest economic woe -- unemployment -- Pravda yesterday reported that three million Soviets have lost their jobs as a result of perestroika and the number could grow to 16 million by the year 2005.@@@@1@41@@oe@2-2-2013
20288025@unknown@formal@none@1@S@Economists in Moscow are now proposing that the state start a system of unemployment benefits.@@@@1@15@@oe@2-2-2013
20288026@unknown@formal@none@1@S@But one Bush administration official knowledgeable about the summit plan cautioned against assuming that there will be bold new initiatives on the Soviet economy or other issues.@@@@1@27@@oe@2-2-2013
20288027@unknown@formal@none@1@S@"Don't take this as some big opening for major movement on economic cooperation, or arms control, or the environment," he said.@@@@1@21@@oe@2-2-2013
20288028@unknown@formal@none@1@S@"Those things will all come up, but in a fairly informal way."@@@@1@12@@oe@2-2-2013
20288029@unknown@formal@none@1@S@Instead, this official said, "This is vintage George Bush.@@@@1@9@@oe@2-2-2013
20288030@unknown@formal@none@1@S@This was George Bush's own idea.@@@@1@6@@oe@2-2-2013
20288031@unknown@formal@none@1@S@It's George Bush wanting to meet a foreign leader and talk to him directly."@@@@1@14@@oe@2-2-2013
20288032@unknown@formal@none@1@S@Aside from the Soviet economic plight and talks on cutting strategic and chemical arms, one other issue the Soviets are likely to want to raise is naval force reductions.@@@@1@29@@oe@2-2-2013
20288033@unknown@formal@none@1@S@Western analysts say that, given the meeting's setting at sea, Gorbachev is unlikely to pass up the opportunity to press once again for negotiated cuts in the navies of both the North Atlantic Treaty Organization and the Warsaw Pact.@@@@1@39@@oe@2-2-2013
20288034@unknown@formal@none@1@S@That theme has been a recurring one for Soviet military officials for much of this year.@@@@1@16@@oe@2-2-2013
20288035@unknown@formal@none@1@S@They argue that as the Kremlin follows through on announced plans to cut land forces -- the Soviets' area of greatest strength -- the U.S. should show more willingness to cut sea forces -- Washington's area of greatest superiority.@@@@1@39@@oe@2-2-2013
20288036@unknown@formal@none@1@S@One of the reasons Bush administration aides are anxious to insist that the coming meeting will be informal is to avoid comparisons with the last such loosely structured superpower gathering, former President Reagan's 1986 meeting with Mr. Gorbachev in Reykjavik, Iceland.@@@@1@41@@oe@2-2-2013
20288037@unknown@formal@none@1@S@That meeting sent shivers through the Western alliance because Mr. Reagan was pulled into discussing the possible elimination of nuclear weapons without consulting American allies.@@@@1@25@@oe@2-2-2013
20288038@unknown@formal@none@1@S@Mr. Bush said that he initiated talks with the Soviets on the informal meeting by sending a proposal to Mr. Gorbachev last July, which the Soviet leader readily accepted.@@@@1@29@@oe@2-2-2013
20288039@unknown@formal@none@1@S@But word of the possible session was closely held by the president and a handful of top aides, and word of it didn't reach many second-level officials until the past few days.@@@@1@32@@oe@2-2-2013
20288040@unknown@formal@none@1@S@Indeed, many senior officials had been insisting for weeks that Mr. Bush wasn't interested in such an informal get-together.@@@@1@19@@oe@2-2-2013
20288041@unknown@formal@none@1@S@Though President Bush's political critics at home have been urging him to open a more direct dialogue with Mr. Gorbachev, it actually was the arguments of leaders within the Soviet bloc itself that led the president to seek the December meeting.@@@@1@41@@oe@2-2-2013
20288042@unknown@formal@none@1@S@Mr. Bush decided he wanted the meeting after talking in Europe in July with the leaders of Poland and Hungary, who urged him to support Mr. Gorbachev's efforts to transform the Soviet system and to urge him to loosen his grip on Eastern Europe, a senior aide said.@@@@1@48@@oe@2-2-2013
20288043@unknown@formal@none@1@S@While flying home from those discussions, Mr. Bush drafted a letter to Mr. Gorbachev suggesting an informal get-together to precede their formal summit next year.@@@@1@25@@oe@2-2-2013
20288044@unknown@formal@none@1@S@Peter Gumbel in Moscow contributed to this article.@@@@1@8@@oe@2-2-2013
20289001@unknown@formal@none@1@S@Banca Nazionale del Lavoro said its potential losses from lending to Iraq could reach 1.175 trillion lire ($872 million), marking the bank's first quantification of potential costs of unauthorized lending by its Atlanta branch.@@@@1@34@@oe@2-2-2013
20289002@unknown@formal@none@1@S@BNL previously reported that its Georgia branch had taken on loan commitments topping $3 billion without the Rome-based management's approval.@@@@1@20@@oe@2-2-2013
20289003@unknown@formal@none@1@S@State-owned BNL, Italy's largest bank, has filed charges against the branch's former manager, Christopher Drogoul, and a former branch vice president, alleging fraud and breach of their fiduciary duties.@@@@1@29@@oe@2-2-2013
20289004@unknown@formal@none@1@S@BNL also said that its board had approved "after an in-depth discussion," a letter to the Bank of Italy outlining measures the state-owned bank has taken or plans to take to improve controls on its foreign branches.@@@@1@37@@oe@2-2-2013
20289005@unknown@formal@none@1@S@The central bank had ordered BNL to come up with a suitable program by yesterday.@@@@1@15@@oe@2-2-2013
20289006@unknown@formal@none@1@S@Bank of Italy has also ordered BNL to shore up its capital base to account for potential foreign loan losses, and the Rome bank has outlined a 3 trillion lire capital-raising operation.@@@@1@32@@oe@2-2-2013
20289007@unknown@formal@none@1@S@BNL was unable to elaborate on what measures were planned by the bank to improve controls on its branches abroad.@@@@1@20@@oe@2-2-2013
20290001@unknown@formal@none@1@S@Hardly a day passes without news photos of the police dragging limp protesters from some building or thoroughfare in one of our cities.@@@@1@23@@oe@2-2-2013
20290002@unknown@formal@none@1@S@Of recent note are the activities of the pro- and anti-abortionists, anti-nuclear activists, animal rights protesters, college students concerned about racism, anti-apartheid groups, various self-styled "environmentalists" and those dissatisfied with the pace of the war against AIDS.@@@@1@37@@oe@2-2-2013
20290003@unknown@formal@none@1@S@Maybe he didn't start it, but Mohandas Gandhi certainly provided a recognizable beginning to non-violent civil disobedience as we know it today.@@@@1@22@@oe@2-2-2013
20290004@unknown@formal@none@1@S@The Mahatma, or "great souled one," instigated several campaigns of passive resistance against the British government in India.@@@@1@18@@oe@2-2-2013
20290005@unknown@formal@none@1@S@Unfortunately, according to Webster's Biographical Dictionary, "His policies went beyond his control and resulted . . . in riots and disturbances" and later a renewed campaign of civil disobedience "resulted in rioting and a second imprisonment."@@@@1@36@@oe@2-2-2013
20290006@unknown@formal@none@1@S@I am not a proponent of everything Gandhi did, but some of his law breaking was justified because India was then under occupation by a foreign power, and Indians were not able to participate fully in decisions that vitally affected them.@@@@1@41@@oe@2-2-2013
20290007@unknown@formal@none@1@S@It is difficult, however, to justify civil disobedience, non-violent or not, where citizens have full recourse to the ballot box to effect change.@@@@1@23@@oe@2-2-2013
20290008@unknown@formal@none@1@S@Where truly representative governments are safeguarded by constitutional protections of human rights and an independent judiciary to construe those rights, there is no excuse for breaking the law because some individual or group disagrees with it.@@@@1@36@@oe@2-2-2013
20290009@unknown@formal@none@1@S@There may be a few cases where the law breaking is well pinpointed and so completely non-invasive of the rights of others that it is difficult to criticize it.@@@@1@29@@oe@2-2-2013
20290010@unknown@formal@none@1@S@The case of Rosa Parks, the black woman who refused to sit at the back of the bus, comes to mind as an illustration.@@@@1@24@@oe@2-2-2013
20290011@unknown@formal@none@1@S@But most cases of non-violent civil disobedience are not nearly so benign.@@@@1@12@@oe@2-2-2013
20290012@unknown@formal@none@1@S@The public has a tendency to equate lawful demonstrations with non-violent civil disobedience.@@@@1@13@@oe@2-2-2013
20290013@unknown@formal@none@1@S@It is true that both are non-violent, but there is a fundamental difference between them.@@@@1@15@@oe@2-2-2013
20290014@unknown@formal@none@1@S@Lawful demonstrations, such as peaceful picketing and other assemblages that do not disturb the peace or cause a public nuisance or interfere with the rights of others, are rights guaranteed by any truly free system of government.@@@@1@37@@oe@2-2-2013
20290015@unknown@formal@none@1@S@Civil disobedience, violent or non-violent, is intentional law breaking.@@@@1@9@@oe@2-2-2013
20290016@unknown@formal@none@1@S@The subject of this discussion is non-violent civil disobedience; but, before we get on with that, let me make just a few tangential remarks about lawful demonstrations.@@@@1@27@@oe@2-2-2013
20290017@unknown@formal@none@1@S@They are useful to call public attention to grievances, but they have little value in educating anyone about the issues in dispute.@@@@1@22@@oe@2-2-2013
20290018@unknown@formal@none@1@S@The delight of television in dramatic confrontation encourages overuse of slogans chanted through bullhorns, militant gestures, accusatory signs and other emotionally inspired tactics.@@@@1@23@@oe@2-2-2013
20290019@unknown@formal@none@1@S@Civilized discourse and an environment where compromise can begin are lost in a hostile posture abetted by superficial media interviews.@@@@1@20@@oe@2-2-2013
20290020@unknown@formal@none@1@S@At best, demonstrations are overused and boringly uninformative; at worst, they can become the stimuli that lead to law breaking.@@@@1@20@@oe@2-2-2013
20290021@unknown@formal@none@1@S@Demonstrations are particularly apt to degenerate into criminal conduct when they leave the site of the grievance and become mobile.@@@@1@20@@oe@2-2-2013
20290022@unknown@formal@none@1@S@Petty criminals and street people looking for excitement attach themselves like remora to the fringes of the crowd and use the protest as an excuse for rock throwing, auto trashing, arson, window breaking, looting, pocket picking and general hooliganism.@@@@1@39@@oe@2-2-2013
20290023@unknown@formal@none@1@S@Soon the whole purpose of the demonstration is lost in mob mania.@@@@1@12@@oe@2-2-2013
20290024@unknown@formal@none@1@S@There are better ways to promote a cause.@@@@1@8@@oe@2-2-2013
20290025@unknown@formal@none@1@S@Where non-violent civil disobedience is the centerpiece, rather than a lawful demonstration that may only attract crime, it is difficult to justify.@@@@1@22@@oe@2-2-2013
20290026@unknown@formal@none@1@S@Some find no harm in the misdemeanors of trespass, minor property destruction, blocking traffic and the like.@@@@1@17@@oe@2-2-2013
20290027@unknown@formal@none@1@S@They say these are small prices to pay for galvanizing action for the all-important cause.@@@@1@15@@oe@2-2-2013
20290028@unknown@formal@none@1@S@The crimes may appear small, but the prices can be huge.@@@@1@11@@oe@2-2-2013
20290029@unknown@formal@none@1@S@Here are two cases to illustrate.@@@@1@6@@oe@2-2-2013
20290030@unknown@formal@none@1@S@Assume a neighborhood demonstration to protest speeding on a certain road or a careless accident involving a police car.@@@@1@19@@oe@2-2-2013
20290031@unknown@formal@none@1@S@The protesters lie down in the street, blocking traffic, and will not move until the authorities carry them away.@@@@1@19@@oe@2-2-2013
20290032@unknown@formal@none@1@S@Assume that someone caught in the jam has a heart attack.@@@@1@11@@oe@2-2-2013
20290033@unknown@formal@none@1@S@There is no way to get an ambulance in quickly to move him to a hospital.@@@@1@16@@oe@2-2-2013
20290034@unknown@formal@none@1@S@He dies.@@@@1@2@@oe@2-2-2013
20290035@unknown@formal@none@1@S@The demonstration was non-violent and involved only a simple misdemeanor, but its impact on that individual was violent and terminal.@@@@1@20@@oe@2-2-2013
20290036@unknown@formal@none@1@S@Assume that a TV network is airing a celebrity interview program with a live audience.@@@@1@15@@oe@2-2-2013
20290037@unknown@formal@none@1@S@The politician appearing is highly controversial and has recently generated a good deal of rancor amid certain groups.@@@@1@18@@oe@2-2-2013
20290038@unknown@formal@none@1@S@In a planned protest against his appearance, several members of the studio audience chain themselves in front of the TV cameras in such a way that the program cannot continue.@@@@1@30@@oe@2-2-2013
20290039@unknown@formal@none@1@S@The network must refund money to the advertisers and loses considerable revenue and prestige.@@@@1@14@@oe@2-2-2013
20290040@unknown@formal@none@1@S@The demonstrators have been non-violent, but the result of their trespasses has been to seriously impair the rights of others unconnected with their dispute.@@@@1@24@@oe@2-2-2013
20290041@unknown@formal@none@1@S@It might be alleged that TV has done more than its share to popularize and promote non-violent civil disobedience, so the second situation hypothesized above would be simply a case of "chickens coming home to roost."@@@@1@36@@oe@2-2-2013
20290042@unknown@formal@none@1@S@Or maybe the TV network would lose nothing.@@@@1@8@@oe@2-2-2013
20290043@unknown@formal@none@1@S@Geraldo or Phil would probably pull up another camera and interview the chained protesters.@@@@1@14@@oe@2-2-2013
20290044@unknown@formal@none@1@S@Let us look for a moment at another type of non-violent civil disobedience that only harms other people indirectly, yet does irreparable damage to the nation as a whole.@@@@1@29@@oe@2-2-2013
20290045@unknown@formal@none@1@S@I am referring to those young men who chose to disobey their country's call to arms during the Vietnam war and fled to Canada or some other sanctuary to avoid combat.@@@@1@31@@oe@2-2-2013
20290046@unknown@formal@none@1@S@Their cowardly acts of civil disobedience, which they tried to hide under the cloak of outrage at a war they characterized as "immoral," weakened the national fabric and threw additional burdens on those who served honorably in that conflict.@@@@1@39@@oe@2-2-2013
20290047@unknown@formal@none@1@S@Even more at fault are those leaders in and out of government who urged and supported their defections, thereby giving great help and comfort to the enemy propagandists.@@@@1@28@@oe@2-2-2013
20290048@unknown@formal@none@1@S@It is amazing that the ensuing mass executions in Vietnam and Cambodia do not weight more heavily on minds so morally fine-tuned.@@@@1@22@@oe@2-2-2013
20290049@unknown@formal@none@1@S@Worse, it remained to a well-meaning but naive president of the United States to administer the final infamy upon those who fought and died in Vietnam.@@@@1@26@@oe@2-2-2013
20290050@unknown@formal@none@1@S@Under the guise of "healing the wounds of the nation," President Carter pardoned thousands of draft evaders, thus giving dignity to their allegations of the war's "immorality."@@@@1@27@@oe@2-2-2013
20290051@unknown@formal@none@1@S@The precedent having been set, who can complain if future generations called upon to defend the U.S. yield to the temptation to avoid the danger of combat by simply declaring the war immoral and hiding until it is over?@@@@1@39@@oe@2-2-2013
20290052@unknown@formal@none@1@S@Finally, I think it important to point out the extraordinarily high visibility of non-violent civil disobedience in these days of intensive media coverage.@@@@1@23@@oe@2-2-2013
20290053@unknown@formal@none@1@S@Give television a chance to cover live any breaking of the law, and no second invitation will be required.@@@@1@19@@oe@2-2-2013
20290054@unknown@formal@none@1@S@This brings into question the motives of those who lead civil disobedience demonstrations.@@@@1@13@@oe@2-2-2013
20290055@unknown@formal@none@1@S@Do they want the spotlight for themselves or for their cause?@@@@1@11@@oe@2-2-2013
20290056@unknown@formal@none@1@S@Here is a good rule of thumb: If the movement produced the leader, the chance that he is sincere is much greater than if the leader produced the movement.@@@@1@29@@oe@2-2-2013
20290057@unknown@formal@none@1@S@In either case, ask yourself whether you have become better informed on the issues under protest by watching the act of civil disobedience.@@@@1@23@@oe@2-2-2013
20290058@unknown@formal@none@1@S@If you have not, it is probable that a thorough airing of the dispute by calm and rational debate would have been the better course.@@@@1@25@@oe@2-2-2013
20290059@unknown@formal@none@1@S@Mr. Agnew was vice president of the U.S. from 1969 until he resigned in 1973.@@@@1@15@@oe@2-2-2013
20291001@unknown@formal@none@1@S@Gov. George Deukmejian and key legislators agreed to back a temporary one-quarter-cent increase in the state sales tax to raise $800 million for repairs and relief associated with last month's earthquake.@@@@1@31@@oe@2-2-2013
20291002@unknown@formal@none@1@S@The tax increase, which will be considered at a special session of the state legislature that begins tomorrow, would cover only part of the estimated $4 billion to $6 billion in total damage caused by the Oct. 17 quake.@@@@1@39@@oe@2-2-2013
20291003@unknown@formal@none@1@S@Aside from as much as $3.45 billion in recently approved federal aid, the state is expected to draw from a gubernatorial emergency fund that currently stands at an estimated $700 million.@@@@1@31@@oe@2-2-2013
20291004@unknown@formal@none@1@S@"I am not aware that there is anything but bipartisan agreement for the general outline" of the revenue-raising plan, said a spokesman for the governor, after a Monday meeting with legislative leaders over the quake-relief question.@@@@1@36@@oe@2-2-2013
20291005@unknown@formal@none@1@S@The tax increase -- on top of the current six-cent per dollar sales tax -- would become effective this Dec. 1 and expire Dec. 31, 1990.@@@@1@26@@oe@2-2-2013
20291006@unknown@formal@none@1@S@The sales-tax plan was preferred over an alternative that would have boosted the state gasoline tax.@@@@1@16@@oe@2-2-2013
20291007@unknown@formal@none@1@S@Some legislators expressed concern that a gas-tax increase would take too long and possibly damage chances of a major gas-tax-increasing ballot initiative that voters will consider next June.@@@@1@28@@oe@2-2-2013
20292001@unknown@formal@none@1@S@Despite continuing problems in its newsprint business, Kimberly-Clark Corp. posted a 20% gain in third-quarter net income.@@@@1@17@@oe@2-2-2013
20292002@unknown@formal@none@1@S@The consumer-products and newsprint company said net rose to $108.8 million, or $1.35 a share, from $90.5 million, or $1.12 a share, a year ago.@@@@1@25@@oe@2-2-2013
20292003@unknown@formal@none@1@S@Sales rose 6.2% to $1.45 billion from $1.37 billion.@@@@1@9@@oe@2-2-2013
20292004@unknown@formal@none@1@S@After a flat second quarter tied largely to lower newsprint earnings, Kimberly-Clark attributed the gain to improved results in its consumer businesses in North America, Brazil and Korea.@@@@1@28@@oe@2-2-2013
20292005@unknown@formal@none@1@S@Those gains came from higher prices, particularly for disposable diapers and tissue products, and from increased sales, primarily for feminine-care products, the company said.@@@@1@24@@oe@2-2-2013
20292006@unknown@formal@none@1@S@Newsprint results continued to be depressed, the company added, because of industrywide price discounting.@@@@1@14@@oe@2-2-2013
20292007@unknown@formal@none@1@S@The quarter-to-quarter comparison was also enhanced by charges taken in the year-earlier period, including $11 million related to the modernization of a pulp and newsprint mill in Alabama.@@@@1@28@@oe@2-2-2013
20292008@unknown@formal@none@1@S@In the 1989 period also, interest expense and tax rates were lower than a year ago.@@@@1@16@@oe@2-2-2013
20292009@unknown@formal@none@1@S@In the first nine months, profit rose 10% to $313.2 million, or $3.89 a share, from $283.9 million, or $3.53 a share.@@@@1@22@@oe@2-2-2013
20292010@unknown@formal@none@1@S@Sales rose 6.7% to $4.27 billion from $4 billion.@@@@1@9@@oe@2-2-2013
20292011@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Kimberly-Clark closed at $66.50 a share, up $1.50.@@@@1@15@@oe@2-2-2013
20293001@unknown@formal@none@1@S@INTENSIVE AUDITS are coming to 55,500 taxpayers as research guinea pigs.@@@@1@11@@oe@2-2-2013
20293002@unknown@formal@none@1@S@This is the year: Unsuspecting filers of 1988 personal returns are being picked randomly for thorough audits to help the IRS update its criteria for enforcement, audit selection, and use of resources.@@@@1@32@@oe@2-2-2013
20293003@unknown@formal@none@1@S@The last Taxpayer Compliance Measurement Program survey covered 1985 returns.@@@@1@10@@oe@2-2-2013
20293004@unknown@formal@none@1@S@The 1988-return project starts Jan. 1 and is to be done by May 31, 1991.@@@@1@15@@oe@2-2-2013
20293005@unknown@formal@none@1@S@Specially trained IRS agents will look for under-reported income and unsupported deductions and credits.@@@@1@14@@oe@2-2-2013
20293006@unknown@formal@none@1@S@The agents will make more than routine inquiries about such items as marital status and dependents; they want to look at living standards and business assets.@@@@1@26@@oe@2-2-2013
20293007@unknown@formal@none@1@S@But they also are to see that taxpayers get all allowable tax benefits and to ask if filers who sought IRS aid were satisfied with it.@@@@1@26@@oe@2-2-2013
20293008@unknown@formal@none@1@S@Courts have ruled that taxpayers must submit to TCMP audits, but the IRS will excuse from the fullscale rigors anyone who was audited without change for either 1986 or 1987.@@@@1@30@@oe@2-2-2013
20293009@unknown@formal@none@1@S@Rewards have been suggested -- but never adopted -- for filers who come through TCMP audits without change.@@@@1@18@@oe@2-2-2013
20293010@unknown@formal@none@1@S@PENALTY OVERHAUL is still likely, congressional sources say.@@@@1@8@@oe@2-2-2013
20293011@unknown@formal@none@1@S@Long-debated proposals to simplify the more than 150 civil penalties and make them fairer and easier to administer are in the House tax bill.@@@@1@24@@oe@2-2-2013
20293012@unknown@formal@none@1@S@But they were stripped from the Senate bill after staffers estimated penalty revenue would fall by $216 million over five years.@@@@1@21@@oe@2-2-2013
20293013@unknown@formal@none@1@S@Still, congressional aides say penalty reform is a strong candidate for enactment, even if not this time around, although some provisions may be modified.@@@@1@24@@oe@2-2-2013
20293014@unknown@formal@none@1@S@Sen. Pryor (D., Ark.), a leader on the issue who generally backs the House plan, wants some changes -- for one, separate sanctions for negligence and large misstatements of tax owed, not a single penalty.@@@@1@35@@oe@2-2-2013
20293015@unknown@formal@none@1@S@He would ease the proposed penalties for delayed payroll-tax deposits and for faulty Form 1099 and other reports that taxpayers correct voluntarily.@@@@1@22@@oe@2-2-2013
20293016@unknown@formal@none@1@S@The General Accounting Office urges Congress to ensure that all penalties retain their force as deterrents.@@@@1@16@@oe@2-2-2013
20293017@unknown@formal@none@1@S@TAXPAYERS' RIGHTS are defined by a growing number of states.@@@@1@10@@oe@2-2-2013
20293018@unknown@formal@none@1@S@The 1988 tax act created a federal bill of rights spelling out IRS duties to protect taxpayers' rights in the assessment and collection of taxes.@@@@1@25@@oe@2-2-2013
20293019@unknown@formal@none@1@S@States are following suit.@@@@1@4@@oe@2-2-2013
20293020@unknown@formal@none@1@S@California enacted a rights law in 1988.@@@@1@7@@oe@2-2-2013
20293021@unknown@formal@none@1@S@In 1989, Illinois, Kansas, Ohio, Oregon and South Carolina have adopted rights laws, the Federation of Tax Administrators, a state officials' group, reports; the features vary.@@@@1@26@@oe@2-2-2013
20293022@unknown@formal@none@1@S@And taxpayer groups are urging legislation in many other states.@@@@1@10@@oe@2-2-2013
20293023@unknown@formal@none@1@S@One group is the Committee on State Taxation, which comprises 330 multistate corporations and advises the Council of State Chambers of Commerce.@@@@1@22@@oe@2-2-2013
20293024@unknown@formal@none@1@S@The group's Mark Cahoon says its efforts begun in 1989 have led to the introduction of bills in Massachusetts, Minnesota and Colorado to establish evenhanded procedures affecting all kinds of taxpayers.@@@@1@31@@oe@2-2-2013
20293025@unknown@formal@none@1@S@The group also seeks uniformity among states in provisions for taxpayers' rights.@@@@1@12@@oe@2-2-2013
20293026@unknown@formal@none@1@S@This week, New York City announced a 10-point policy patterned on the federal bill of rights for taxpayers.@@@@1@18@@oe@2-2-2013
20293027@unknown@formal@none@1@S@THE MILEAGE RATE allowed for business use of a car in 1989 has risen to 25.5 cents a mile for the first 15,000 from 24 cents in 1988, the IRS says; the rate stays 11 cents for each added mile.@@@@1@40@@oe@2-2-2013
20293028@unknown@formal@none@1@S@Also unaltered: 12 cents for charitable activities and nine cents for medical and moving costs.@@@@1@15@@oe@2-2-2013
20293029@unknown@formal@none@1@S@IRA BALANCES could be used to qualify for bank services under a bill entered by Reps. Chandler (R., Wash.) and Andrews (D., Texas).@@@@1@23@@oe@2-2-2013
20293030@unknown@formal@none@1@S@The bill would thwart a recent Labor Department opinion that investing individual-retirement-account funds to earn free checking violates the law.@@@@1@20@@oe@2-2-2013
20293031@unknown@formal@none@1@S@HUGO FELLED vast timberlands.@@@@1@4@@oe@2-2-2013
20293032@unknown@formal@none@1@S@South Carolina's congressional delegation has entered Senate and House bills to provide special casualty-loss treatment and other tax relief for timber growers in the hurricane disaster areas.@@@@1@27@@oe@2-2-2013
20293033@unknown@formal@none@1@S@HE RODE HIS HOBBY, but he couldn't milk it, the Tax Court says.@@@@1@13@@oe@2-2-2013
20293034@unknown@formal@none@1@S@The court often weighs deductions of sideline-business costs: Do they stem from a profit-seeking activity or a nondeductible hobby?@@@@1@19@@oe@2-2-2013
20293035@unknown@formal@none@1@S@But it's rare to see both functions in one case.@@@@1@10@@oe@2-2-2013
20293036@unknown@formal@none@1@S@Charles O. Givens of Mount Vernon, Ind.-investment broker, ex-accountant, and son of a former stable owner-bred Tennessee Walking Horses for six years, raised cattle for four, and never made a profit on either.@@@@1@33@@oe@2-2-2013
20293037@unknown@formal@none@1@S@He claimed losses totaling $42,455 -- and the IRS denied them all.@@@@1@12@@oe@2-2-2013
20293038@unknown@formal@none@1@S@Special Judge Galloway noted that Givens managed horse-breeding in a businesslike way: He kept detailed accounts, practiced soil conservation, enhanced his experience by consulting experts, spent several hours a day doing chores, and dropped the sideline when his best brood mare died.@@@@1@42@@oe@2-2-2013
20293039@unknown@formal@none@1@S@Yet he took little businesslike care with his cattle: He had no prior experience and didn't seek business counsel about them.@@@@1@21@@oe@2-2-2013
20293040@unknown@formal@none@1@S@The judge said Givens may deduct his $30,180 of losses from horse breeding, but rejected the $12,275 in deductions from the cattle operation.@@@@1@23@@oe@2-2-2013
20293041@unknown@formal@none@1@S@BRIEFS:@@@@1@1@@oe@2-2-2013
20293042@unknown@formal@none@1@S@The IRS already is doing intensive TCMP audits of 19,000 returns for 1987 and fiscal 1988 filed by corporations with under $10 million in assets. . . .@@@@1@28@@oe@2-2-2013
20293043@unknown@formal@none@1@S@President Bush says he will name Donald E. Kirkendall to the new Treasury post of inspector general, which has responsibilities for the IRS. . . .@@@@1@26@@oe@2-2-2013
20293044@unknown@formal@none@1@S@The U.S. and Finland signed an income-tax treaty, subject to ratification.@@@@1@11@@oe@2-2-2013
20294001@unknown@formal@none@1@S@An arbitrator awarded Eastern Airlines pilots between $60 million and $100 million in back pay, a decision that could complicate the carrier's bankruptcy-law reorganization.@@@@1@24@@oe@2-2-2013
20294002@unknown@formal@none@1@S@Eastern, a unit of Texas Air Corp., said it is examining the ruling to determine if it can appeal.@@@@1@19@@oe@2-2-2013
20294003@unknown@formal@none@1@S@It's unclear whether Eastern will succeed in overturning the arbitrator's decision, made in a long-simmering "pay parity" dispute that predates both the carrier's Chapter 11 petition and its 1986 acquisition by Texas Air.@@@@1@33@@oe@2-2-2013
20294004@unknown@formal@none@1@S@All Eastern's previous court efforts to head off the pilots' demands have failed.@@@@1@13@@oe@2-2-2013
20294005@unknown@formal@none@1@S@An Eastern spokesman said he doesn't expect that the arbitrator's ruling "will have any overall material effect on the company's strategic plan."@@@@1@22@@oe@2-2-2013
20294006@unknown@formal@none@1@S@Bankruptcy experts said the law isn't clear on how such an arbitration ruling can affect a company's case.@@@@1@18@@oe@2-2-2013
20294007@unknown@formal@none@1@S@Like any other creditor, the pilots will have to apply to the court for payment of their claim.@@@@1@18@@oe@2-2-2013
20294008@unknown@formal@none@1@S@That may leave a lot of leeway for U.S. Bankruptcy Judge Burton R. Lifland to decide what, if anything, the pilots actually collect.@@@@1@23@@oe@2-2-2013
20294009@unknown@formal@none@1@S@In August, he issued the ruling that let the pilots pursue their back-pay grievance before the arbitrator.@@@@1@17@@oe@2-2-2013
20294010@unknown@formal@none@1@S@The pilots' contract with Eastern calls for a mutually acceptable private arbitrator to resolve such grievances.@@@@1@16@@oe@2-2-2013
20294011@unknown@formal@none@1@S@In a statement to employees, Eastern said the company was disappointed by the ruling.@@@@1@14@@oe@2-2-2013
20294012@unknown@formal@none@1@S@"The obligation is totally unwarranted," the statement said.@@@@1@8@@oe@2-2-2013
20294013@unknown@formal@none@1@S@James Linsey, a lawyer for the Air Line Pilots Association, said the pilots were extremely pleased.@@@@1@16@@oe@2-2-2013
20294014@unknown@formal@none@1@S@"This is a blow not only to Eastern but to the creditors committee," he said.@@@@1@15@@oe@2-2-2013
20294015@unknown@formal@none@1@S@Eastern's creditors committee, along with the company, has consistently opposed the pilots' claim, which if paid would have to come out of money both hope to use to pay off other bankruptcy claims.@@@@1@33@@oe@2-2-2013
20294016@unknown@formal@none@1@S@Eastern and its creditors are in the final, delicate stages of negotiating a second reorganization plan to pay off the airline's debts.@@@@1@22@@oe@2-2-2013
20294017@unknown@formal@none@1@S@An earlier plan, which had received the creditors' approval in July, fell apart when Eastern changed its business plan.@@@@1@19@@oe@2-2-2013
20294018@unknown@formal@none@1@S@It isn't known whether the pilot claim was figured into either plan.@@@@1@12@@oe@2-2-2013
20294019@unknown@formal@none@1@S@The dispute between Eastern and its pilots is over a "pay parity" clause in the pilots' contract.@@@@1@17@@oe@2-2-2013
20294020@unknown@formal@none@1@S@The clause was part of an agreement in which pilots accepted a substantial pay cut as long as no other labor group got a raise.@@@@1@25@@oe@2-2-2013
20294021@unknown@formal@none@1@S@Shortly after Texas Air took control of Eastern, some Machinists union supervisors received a 20% pay raise.@@@@1@17@@oe@2-2-2013
20294022@unknown@formal@none@1@S@The pilots argued that this triggered a pay raise for them.@@@@1@11@@oe@2-2-2013
20294023@unknown@formal@none@1@S@Eastern has disputed the claim, but a federal district court, an appeals court and now the arbitrator have all sided with the pilots.@@@@1@23@@oe@2-2-2013
20294024@unknown@formal@none@1@S@The two sides don't even agree about how much money is at issue.@@@@1@13@@oe@2-2-2013
20294025@unknown@formal@none@1@S@The pilots put the amount as high as $100 million, the company at $65 million.@@@@1@15@@oe@2-2-2013
20294026@unknown@formal@none@1@S@Another arbitrator is hearing another pay parity case between Eastern and its pilots, resulting from a similar set of circumstances involving a separate pay raise granted another union.@@@@1@28@@oe@2-2-2013
20294027@unknown@formal@none@1@S@A decision on that case isn't expected before mid-November.@@@@1@9@@oe@2-2-2013
20294028@unknown@formal@none@1@S@Ironically, many of the pilots involved have left Eastern or are still striking the carrier, which filed for bankruptcy protection March 9.@@@@1@22@@oe@2-2-2013
20294029@unknown@formal@none@1@S@About 800 have crossed the picket lines and returned to work.@@@@1@11@@oe@2-2-2013
20295001@unknown@formal@none@1@S@Few people in the advertising business have raised as many hackles as Alvin A. Achenbaum.@@@@1@15@@oe@2-2-2013
20295002@unknown@formal@none@1@S@The general public may not know his name, but he's famous -- make that infamous -- in advertising circles: A marketing consultant, he pioneered slashing ad agency commissions, to the delight of advertising clients and the dismay of agencies.@@@@1@39@@oe@2-2-2013
20295003@unknown@formal@none@1@S@Now, after beating them, Mr. Achenbaum is joining them.@@@@1@9@@oe@2-2-2013
20295004@unknown@formal@none@1@S@Backer Spielvogel Bates Worldwide named Mr. Achenbaum, 62, vice chairman of professional services, reporting directly to Carl Spielvogel, chairman and chief executive officer.@@@@1@23@@oe@2-2-2013
20295005@unknown@formal@none@1@S@He joins Nov. 13, dissolving his consulting firm, Canter, Achenbaum Associates.@@@@1@11@@oe@2-2-2013
20295006@unknown@formal@none@1@S@In years past, the ad industry's most distinguished executives didn't hesitate to excorciate Mr. Achenbaum.@@@@1@15@@oe@2-2-2013
20295007@unknown@formal@none@1@S@They have since mellowed, although one senior Young & Rubicam executive, echoing others, said: "I think ad agencies owe Carl {Spielvogel} a vote of thanks for getting him out of the consulting business."@@@@1@33@@oe@2-2-2013
20295008@unknown@formal@none@1@S@But industry executives also believe hiring Mr. Achenbaum is a shrewd move for Backer Spielvogel, a unit of Saatchi & Saatchi.@@@@1@21@@oe@2-2-2013
20295009@unknown@formal@none@1@S@Mr. Achenbaum has counted among his clients some of the most visible blue-chip advertisers in the country, including Nissan, Toyota, Seagram and Backer Spielvogel clients Hyundai and J.P. Morgan.@@@@1@29@@oe@2-2-2013
20295010@unknown@formal@none@1@S@At Backer Spielvogel, he will work with clients and potential clients on marketing strategies; aside from agency compensation issues, he helped Nissan, for example, come up with its positioning and pricing for its new Infiniti line.@@@@1@36@@oe@2-2-2013
20295011@unknown@formal@none@1@S@His client contacts, meanwhile, could prove a gold mine for an agency that has had few new business wins of late.@@@@1@21@@oe@2-2-2013
20295012@unknown@formal@none@1@S@"I've done over 40 ad agency searches {for clients}, so I have a pretty good notion of what clients are interested in when they look for an agency," Mr. Achenbaum said.@@@@1@31@@oe@2-2-2013
20295013@unknown@formal@none@1@S@As a consultant, he has given seminars at agencies including Ogilvy & Mather on how to win new business.@@@@1@19@@oe@2-2-2013
20295014@unknown@formal@none@1@S@Mr. Spielvogel said he hopes Mr. Achenbaum will do some strategic consulting at the agency for "non-clients, in hopes that they become clients."@@@@1@23@@oe@2-2-2013
20295015@unknown@formal@none@1@S@At Backer Spielvogel, Mr. Spielvogel's hallmark has been personal involvement with all major clients.@@@@1@14@@oe@2-2-2013
20295016@unknown@formal@none@1@S@He pampers them; he invites them to fabulous parties; he strokes them.@@@@1@12@@oe@2-2-2013
20295017@unknown@formal@none@1@S@Mr. Achenbaum, too, delves into his clients' business.@@@@1@8@@oe@2-2-2013
20295018@unknown@formal@none@1@S@"Carl has a much higher degree of intimacy with his clients than is ordinary for an agency his size.@@@@1@19@@oe@2-2-2013
20295019@unknown@formal@none@1@S@And with Al's record of being a delver and a detail guy, you can see how the two fit," said Alan Gottesman, an analyst with PaineWebber.@@@@1@26@@oe@2-2-2013
20295020@unknown@formal@none@1@S@Mr. Achenbaum's move follows the announcement last month that his consulting partner, Stanley Canter, 66, would retire.@@@@1@17@@oe@2-2-2013
20295021@unknown@formal@none@1@S@When the announcement came out, "I picked up the phone and said, `Why don't you come to us?'" Mr. Spielvogel said.@@@@1@21@@oe@2-2-2013
20295022@unknown@formal@none@1@S@Mr. Achenbaum, who had been considering paring down his firm or merging it with another small consulting outfit, soon agreed.@@@@1@20@@oe@2-2-2013
20295023@unknown@formal@none@1@S@The two men are longtime friends and tennis partners, having met about 25 years ago.@@@@1@15@@oe@2-2-2013
20295024@unknown@formal@none@1@S@Before becoming a consultant in 1974, Mr. Achenbaum was a senior executive at J. Walter Thompson Co.@@@@1@17@@oe@2-2-2013
20295025@unknown@formal@none@1@S@He spent most of his career formulating marketing strategies, but became best-known for chipping away at ad agency compensation.@@@@1@19@@oe@2-2-2013
20295026@unknown@formal@none@1@S@Ad agencies typically earned a straight 15% commission; if a client spent $100 million on TV time, the agency made $15 million.@@@@1@22@@oe@2-2-2013
20295027@unknown@formal@none@1@S@But Mr. Achenbaum pioneered negotiated fees, which often worked out to less than 15%.@@@@1@14@@oe@2-2-2013
20295028@unknown@formal@none@1@S@More recently, he negotiated "indemnification" clauses in which an ad agency in some cases must pay a client if it drops the account.@@@@1@23@@oe@2-2-2013
20295029@unknown@formal@none@1@S@He ultimately became so well-known for cutting compensation, however, that clients didn't seek him out for anything else.@@@@1@18@@oe@2-2-2013
20295030@unknown@formal@none@1@S@"I was very frustrated," he said.@@@@1@6@@oe@2-2-2013
20295031@unknown@formal@none@1@S@"The fact of the matter is, I am a marketer.@@@@1@10@@oe@2-2-2013
20295032@unknown@formal@none@1@S@That's another reason {for the Backer Spielvogel job}.@@@@1@8@@oe@2-2-2013
20295033@unknown@formal@none@1@S@It struck me as a way to get back to what I really want to do."@@@@1@16@@oe@2-2-2013
20295034@unknown@formal@none@1@S@Mr. Spielvogel added pointedly: "The pressure on commissions didn't begin with Al Achenbaum."@@@@1@13@@oe@2-2-2013
20295035@unknown@formal@none@1@S@Mr. Spielvogel said Mr. Achenbaum will work with clients to determine the mix of promotion, merchandising, publicity and other marketing outlets, and to integrate those services.@@@@1@26@@oe@2-2-2013
20295036@unknown@formal@none@1@S@He will concentrate on, among others, J.P. Morgan and Hyundai.@@@@1@10@@oe@2-2-2013
20295037@unknown@formal@none@1@S@Mr. Achenbaum helped Morgan in its recent agency search, and he has a long relationship with Hyundai, which is having severe troubles, including declining sales.@@@@1@25@@oe@2-2-2013
20295038@unknown@formal@none@1@S@"The trail of revenue is increasingly going away from pure advertising, and going towards other services," Mr. Spielvogel said.@@@@1@19@@oe@2-2-2013
20295039@unknown@formal@none@1@S@Instead of being just an ad agency, he said: "We have redefined our mission here.@@@@1@15@@oe@2-2-2013
20295040@unknown@formal@none@1@S@Our mission is to help our clients grow, and to use every tool of marketing communications to accomplish that."@@@@1@19@@oe@2-2-2013
20295041@unknown@formal@none@1@S@Industry executives are wishing Mr. Achenbaum well.@@@@1@7@@oe@2-2-2013
20295042@unknown@formal@none@1@S@Leonard Matthews, then-president of the American Association of Advertising Agencies, called Mr. Achenbaum a "quisling" in an incendiary 1987 speech.@@@@1@20@@oe@2-2-2013
20295043@unknown@formal@none@1@S@Yesterday, Mr. Matthews, now a consultant with the Stamford, Conn., firm Matthews & Johnston, quipped, "I think he'll be very good at that {new job}.@@@@1@25@@oe@2-2-2013
20295044@unknown@formal@none@1@S@And much better at that than at {the price-cutting} he's been doing recently."@@@@1@13@@oe@2-2-2013
20295045@unknown@formal@none@1@S@Cotton Inc. Campaign@@@@1@3@@oe@2-2-2013
20295046@unknown@formal@none@1@S@Cotton Inc., the fiber company that represents cotton growers, will begin a new ad campaign, developed by Ogilvy & Mather, Thanksgiving Day.@@@@1@22@@oe@2-2-2013
20295047@unknown@formal@none@1@S@J. Nicholas Hahn, Cotton Inc.'s president and chief executive, was an outspoken critic of WPP Group's acquisition of Ogilvy Group earlier this year.@@@@1@23@@oe@2-2-2013
20295048@unknown@formal@none@1@S@During the takeover, Mr. Hahn said he would put his account up for review if WPP's bid were successful, but he didn't.@@@@1@22@@oe@2-2-2013
20295049@unknown@formal@none@1@S@Cotton Inc.'s new $9 million campaign calls cotton the "Fabric of Our Lives."@@@@1@13@@oe@2-2-2013
20295050@unknown@formal@none@1@S@The campaign replaces its "Take Comfort in Cotton" ads and marks the end of its national cooperative advertising efforts.@@@@1@19@@oe@2-2-2013
20295051@unknown@formal@none@1@S@For years, the company's ads were tied in with pitches for Cannon sheets or Martex towels, for example, and an announcer at the end of the ads would tell customers where to "find the true performance label."@@@@1@37@@oe@2-2-2013
20295052@unknown@formal@none@1@S@With the new TV spots, Ogilvy & Mather has opted for a family style with lots of laughter, hugs and tears.@@@@1@21@@oe@2-2-2013
20295053@unknown@formal@none@1@S@"We're making a fairly obvious plea for some emotional reaction," says Tom Rost, creative director at Ogilvy & Mather.@@@@1@19@@oe@2-2-2013
20295054@unknown@formal@none@1@S@Cotton Inc. will spend nearly $2 million on broadcasting on Thanksgiving Day alone, advertising on such programs as "Good Morning America," "Macy's Thanksgiving Day Parade" and the NFL holiday game.@@@@1@30@@oe@2-2-2013
20295055@unknown@formal@none@1@S@Frank Mingo Dies at 49@@@@1@5@@oe@2-2-2013
20295056@unknown@formal@none@1@S@Frank L. Mingo, one of the pioneers of advertising targeted at black audiences, died at the age of 49 after a stroke.@@@@1@22@@oe@2-2-2013
20295057@unknown@formal@none@1@S@Mr. Mingo was chief executive officer of the Mingo Group, which he founded in 1977 and which created ads for the black market.@@@@1@23@@oe@2-2-2013
20295058@unknown@formal@none@1@S@Clients include Miller Brewing Co. and General Motors.@@@@1@8@@oe@2-2-2013
20295059@unknown@formal@none@1@S@Mr. Mingo was hospitalized Sept. 23 and died Monday, according to Samuel J. Chisholm, the agency's president and chief operating officer.@@@@1@21@@oe@2-2-2013
20295060@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
20295061@unknown@formal@none@1@S@EARNINGS:@@@@1@1@@oe@2-2-2013
20295062@unknown@formal@none@1@S@Omnicom Group Inc., New York, reported third-quarter net income rose 54% to $5.6 million, or 22 cents a share, from $3.6 million, or 15 cents a share, a year earlier.@@@@1@30@@oe@2-2-2013
20295063@unknown@formal@none@1@S@Revenue increased 20% to $246.6 million from $204.8 million.@@@@1@9@@oe@2-2-2013
20296001@unknown@formal@none@1@S@Prime Minister Lee Kuan Yew, Singapore's leader and one of Asia's leading statesmen for 30 years, recently announced his intention to retire next year -- though not necessarily to end his influence.@@@@1@32@@oe@2-2-2013
20296002@unknown@formal@none@1@S@The prime minister, whose hair is thinning and gray and whose face has a perpetual pallor, nonetheless continues to display an energy, a precision of thought and a willingness to say publicly what most other Asian leaders dare say only privately.@@@@1@41@@oe@2-2-2013
20296003@unknown@formal@none@1@S@The 66-year-old Mr. Lee recently spent an hour discussing the state of Asia and the world with two Journal reporters in his plainly furnished, wood-paneled office.@@@@1@26@@oe@2-2-2013
20296004@unknown@formal@none@1@S@The interview did not touch on Singapore's domestic affairs.@@@@1@9@@oe@2-2-2013
20296005@unknown@formal@none@1@S@Skipping personal pleasantries, Mr. Lee picked up exactly where he left off several months earlier -- before the government crackdown in China -- when he had warned that the orthodox leadership in Beijing feared a plurality of views.@@@@1@38@@oe@2-2-2013
20296006@unknown@formal@none@1@S@Excerpts follow:@@@@1@2@@oe@2-2-2013
20296007@unknown@formal@none@1@S@On China's turmoil: "It is a very unhappy scene," he said.@@@@1@11@@oe@2-2-2013
20296008@unknown@formal@none@1@S@"It took Zhao Ziyang (former premier and party chief) 10 years to build a team of economists who understood how the Western economies work and now that team is part in exile, part being rusticated and part missing."@@@@1@38@@oe@2-2-2013
20296009@unknown@formal@none@1@S@Rebuilding that team, Mr. Lee predicted, will take another 10 years.@@@@1@11@@oe@2-2-2013
20296010@unknown@formal@none@1@S@"That's very sad for China and for Asia because China could have been a good engine for growth, not just for Hong Kong and Taiwan but for Japan, Korea and the rest of Asia."@@@@1@34@@oe@2-2-2013
20296011@unknown@formal@none@1@S@On similarities between China and the Soviet Union: "In important particulars, the Soviets are different from the Chinese.@@@@1@18@@oe@2-2-2013
20296012@unknown@formal@none@1@S@They are already industrialized. . . .@@@@1@7@@oe@2-2-2013
20296013@unknown@formal@none@1@S@Their problem is one of inefficiency of an industrial economy.@@@@1@10@@oe@2-2-2013
20296014@unknown@formal@none@1@S@The Chinese problem is much greater -- it's how to industrialize to begin with."@@@@1@14@@oe@2-2-2013
20296015@unknown@formal@none@1@S@Asked if the Soviets, like Chinese officials, won't one day face a similar conflict between the desire to liberalize economically and yet retain political control, Mr. Lee said, "I would think that the Soviets face a deeper dilemma because they have been more in blinkers than the Chinese -- I mean keeping their people cut off from the outside world."@@@@1@60@@oe@2-2-2013
20296016@unknown@formal@none@1@S@Mikhail Gorbachev, he said, is ahead of China's leaders in his awareness of the world.@@@@1@15@@oe@2-2-2013
20296017@unknown@formal@none@1@S@"But I think the Soviet peoples are more introverted than the Chinese."@@@@1@12@@oe@2-2-2013
20296018@unknown@formal@none@1@S@Regardless, he said, he still believes the Soviet Union, while falling far short of the efficiency of a Western economy, may well manage to improve considerably.@@@@1@26@@oe@2-2-2013
20296019@unknown@formal@none@1@S@On Asia-Pacific prosperity: "If America can keep up the present situation -- her markets open for another 15 years, with adjustments, and Japan can grow and not cut back, and so too, Korea, Taiwan, Hong Kong, Singapore, ASEAN, Australia and New Zealand -- then in 15 years, the economies of these countries would be totally restructured to be able to almost sustain growth by themselves."@@@@1@65@@oe@2-2-2013
20296020@unknown@formal@none@1@S@In such an arrangement, "all benefit," he said.@@@@1@8@@oe@2-2-2013
20296021@unknown@formal@none@1@S@"And if the Europeans come in, they benefit too.@@@@1@9@@oe@2-2-2013
20296022@unknown@formal@none@1@S@It's not a zero-sum game."@@@@1@5@@oe@2-2-2013
20296023@unknown@formal@none@1@S@Asked about the possibility of greater economic cooperation among Asia-Pacific nations, which will be discussed Nov. 6 and 7 at a ministerial meeting in Canberra, Mr. Lee said the goal "is to have a free and open world trading system."@@@@1@40@@oe@2-2-2013
20296024@unknown@formal@none@1@S@An Asian bloc isn't intended, he said.@@@@1@7@@oe@2-2-2013
20296025@unknown@formal@none@1@S@"That's not possible."@@@@1@3@@oe@2-2-2013
20296026@unknown@formal@none@1@S@On U.S.-Japan relations: "I'm encouraged.@@@@1@5@@oe@2-2-2013
20296027@unknown@formal@none@1@S@I think the earlier strident notes struck by {U.S. Commerce Secretary Robert} Mosbacher and {U.S. Trade Representative} Carla Hills have been more rounded.@@@@1@23@@oe@2-2-2013
20296028@unknown@formal@none@1@S@I believe the U.S. is becoming more patient and circumspect," he said.@@@@1@12@@oe@2-2-2013
20296029@unknown@formal@none@1@S@"It's the total relationship that is important."@@@@1@7@@oe@2-2-2013
20296030@unknown@formal@none@1@S@The total relationship, as Mr. Lee sees it, is "the flow of dollars to the U.S. to fund the deficits, the investments the Japanese are making in the U.S. in order to satisfy American demand that American products consumed in America should be made as much as possible in America by Americans with Japanese technology and capital."@@@@1@57@@oe@2-2-2013
20296031@unknown@formal@none@1@S@Japan's recent political turbulence, Mr. Lee said, may mean Japan will slow market adjustments.@@@@1@14@@oe@2-2-2013
20296032@unknown@formal@none@1@S@"They'll be more timorous in tackling their own voters, like opening up more to agricultural imports from America, hurting their farmers."@@@@1@21@@oe@2-2-2013
20296033@unknown@formal@none@1@S@On U.S. military presence in Asia: Asked if his offer to allow the American military to use facilities in Singapore would help preserve America's presence in the region at bases in the Philippines, he said, "What we have done is make it easier for the Philippines to continue to host American bases without it being said they are lackeys of the imperialists and the only ones in Asia or in Southeast Asia.@@@@1@72@@oe@2-2-2013
20296034@unknown@formal@none@1@S@We are willing to share the political burden of being host to America, an imperial power.@@@@1@16@@oe@2-2-2013
20296035@unknown@formal@none@1@S@We think it isn't such a great burden, that it carries no stigma, and we are prepared to do it."@@@@1@20@@oe@2-2-2013
20296036@unknown@formal@none@1@S@On U.S.-Philippine relations: "It's such a mixed-up relationship going back into history. . . .@@@@1@15@@oe@2-2-2013
20296037@unknown@formal@none@1@S@I really do not understand how it is that Filipinos feel so passionately involved in this father figure that they want to dispose of and yet they need.@@@@1@28@@oe@2-2-2013
20296038@unknown@formal@none@1@S@I just don't understand it.@@@@1@5@@oe@2-2-2013
20296039@unknown@formal@none@1@S@My relationships with the British are totally different.@@@@1@8@@oe@2-2-2013
20296040@unknown@formal@none@1@S@They lorded it over me.@@@@1@5@@oe@2-2-2013
20296041@unknown@formal@none@1@S@They did me some good.@@@@1@5@@oe@2-2-2013
20296042@unknown@formal@none@1@S@They did themselves even more good.@@@@1@6@@oe@2-2-2013
20296043@unknown@formal@none@1@S@They let me down when the Japanese came down {during World War II}. . . .@@@@1@16@@oe@2-2-2013
20296044@unknown@formal@none@1@S@I don't feel down or done in because I show British serials on my television network or read their books.@@@@1@20@@oe@2-2-2013
20296045@unknown@formal@none@1@S@I mean it is a normal adult relationship.@@@@1@8@@oe@2-2-2013
20296046@unknown@formal@none@1@S@"But the Filipinos and the Americans, when I talk to them, there's so much passion about Filipino manhood being diminished as a result of being squatted upon by the Americans and so on.@@@@1@33@@oe@2-2-2013
20296047@unknown@formal@none@1@S@The occasional Englishman tries to put on airs but we let it pass. . . .@@@@1@16@@oe@2-2-2013
20296048@unknown@formal@none@1@S@It's just comic when they try to pretend they're still the master race."@@@@1@13@@oe@2-2-2013
20296049@unknown@formal@none@1@S@Mr. Lee added that the Filipinos are "making it very difficult" for the U.S. military presence to last beyond five or 10 years.@@@@1@23@@oe@2-2-2013
20296050@unknown@formal@none@1@S@On military alternatives if the U.S. pulls back: "The Soviets already are present.@@@@1@13@@oe@2-2-2013
20296051@unknown@formal@none@1@S@I suppose sooner or later, the Japanese would have to fill up a large part of the gap on the naval side.@@@@1@22@@oe@2-2-2013
20296052@unknown@formal@none@1@S@Maybe the Chinese, maybe even the Indians."@@@@1@7@@oe@2-2-2013
20296053@unknown@formal@none@1@S@On economic consequences of a diminished U.S. presence: "America is the only major power in recent history that has used its military might to sustain a system that enables all participants to equally benefit without her as the provider of the security taking royalties."@@@@1@44@@oe@2-2-2013
20296054@unknown@formal@none@1@S@Asked why so few nations seem to share his views of America, he said, "Many people see it that way.@@@@1@20@@oe@2-2-2013
20296055@unknown@formal@none@1@S@But they have just taken it for granted."@@@@1@8@@oe@2-2-2013
20296056@unknown@formal@none@1@S@On Cambodia: "Let's assume that {former Cambodian leader Prince Norodom} Sihanouk does what the press wants him to do and joins up with {Vietnamese-backed Cambodian leader} Hun Sen.@@@@1@28@@oe@2-2-2013
20296057@unknown@formal@none@1@S@Is the trouble over?@@@@1@4@@oe@2-2-2013
20296058@unknown@formal@none@1@S@Can Sihanouk and Hun Sen knock off the Khmer Rouge still supported by China?@@@@1@14@@oe@2-2-2013
20296059@unknown@formal@none@1@S@He can't.@@@@1@2@@oe@2-2-2013
20296060@unknown@formal@none@1@S@"What is the way forward?@@@@1@5@@oe@2-2-2013
20296061@unknown@formal@none@1@S@To get the Khmer Rouge as part of a process for elections.@@@@1@12@@oe@2-2-2013
20296062@unknown@formal@none@1@S@And when they lose, then we can expect China to stop aid.@@@@1@12@@oe@2-2-2013
20296063@unknown@formal@none@1@S@Let's put it bluntly.@@@@1@4@@oe@2-2-2013
20296064@unknown@formal@none@1@S@The Chinese cannot be seen to have made use of the Khmer Rouge and then discard them."@@@@1@17@@oe@2-2-2013
20296065@unknown@formal@none@1@S@Ms. House is vice president of Dow Jones International Group.@@@@1@10@@oe@2-2-2013
20296066@unknown@formal@none@1@S@Mr. Wain is editor of The Asian Wall Street Journal.@@@@1@10@@oe@2-2-2013
20297001@unknown@formal@none@1@S@Everything looked good as neurosurgeon Walter Levy and colleagues carefully cut away a woman's spinal tumor at the Cleveland Clinic in 1978.@@@@1@22@@oe@2-2-2013
20297002@unknown@formal@none@1@S@Using small electrical shocks applied to her feet, they were able to monitor sensory nerves.@@@@1@15@@oe@2-2-2013
20297003@unknown@formal@none@1@S@The shocks generated nerve impulses that traveled via spine to brain and showed up clearly on a brain-wave monitor, indicating no damage to the delicate spinal tissue.@@@@1@27@@oe@2-2-2013
20297004@unknown@formal@none@1@S@Then, says Dr. Levy, "she woke up paralyzed."@@@@1@8@@oe@2-2-2013
20297005@unknown@formal@none@1@S@The damage was to her motor nerves, which couldn't be monitored along with the sensory nerves, he explains.@@@@1@18@@oe@2-2-2013
20297006@unknown@formal@none@1@S@The tragedy, he adds, "galvanized me" to look for a way to prevent similar cases.@@@@1@15@@oe@2-2-2013
20297007@unknown@formal@none@1@S@Dr. Levy's answer may come with a new kind of magnetic brain probe, a device that he and dozens of U.S. researchers are studying with great hope.@@@@1@27@@oe@2-2-2013
20297008@unknown@formal@none@1@S@Besides holding the promise of safer spinal surgery, the probe could improve the diagnosis of brain and nerve disorders such as strokes and multiple sclerosis.@@@@1@25@@oe@2-2-2013
20297009@unknown@formal@none@1@S@Perhaps most exciting, the device is thrusting open a window to the workings of the brain.@@@@1@16@@oe@2-2-2013
20297010@unknown@formal@none@1@S@The probe, which is painless, non-invasive and apparently harmless, employs strong magnetic fields to induce small whirlwinds of electricity within the brain.@@@@1@22@@oe@2-2-2013
20297011@unknown@formal@none@1@S@If positioned over the brain's motor-control area, the hand-held electromagnets generate nerve impulses that zip down motor nerves and activate muscles, making, say, a finger twitch.@@@@1@26@@oe@2-2-2013
20297012@unknown@formal@none@1@S@In principle, they will enable doctors to check the body's motor system the way an electrician tests a home's electrical circuits by running current through them.@@@@1@26@@oe@2-2-2013
20297013@unknown@formal@none@1@S@"Until now, we've had no objective way of measuring motor function," says Keith Chiappa, a neurologist conducting clinical tests with the devices at Boston's Massachusetts General Hospital.@@@@1@27@@oe@2-2-2013
20297014@unknown@formal@none@1@S@"All we could do was tell a patient, `squeeze my fingers as hard as you can' or `raise your arm.'@@@@1@20@@oe@2-2-2013
20297015@unknown@formal@none@1@S@" Under the best circumstances such tests are subjective; when a patient is unconscious, they don't work at all.@@@@1@19@@oe@2-2-2013
20297016@unknown@formal@none@1@S@Magnetic brain tweaking started in the early 1900s, when researchers produced flashes of light in the visual field with magnets.@@@@1@20@@oe@2-2-2013
20297017@unknown@formal@none@1@S@In the 1960s, Mayo Clinic researchers developed magnetic devices to stimulate motor nerves in the hand and other limbs.@@@@1@19@@oe@2-2-2013
20297018@unknown@formal@none@1@S@But for brain tests, the unwieldy machines "would have required patients to stand on their heads," says Reginald Bickford, a researcher at the University of California at San Diego.@@@@1@29@@oe@2-2-2013
20297019@unknown@formal@none@1@S@The field took off in 1985 after scientists at Britain's Sheffield University developed a handy, compact magnet for brain stimulation.@@@@1@20@@oe@2-2-2013
20297020@unknown@formal@none@1@S@Since then, at least two commercial versions have been put on the U.S. market, and an estimated 500 have been sold.@@@@1@21@@oe@2-2-2013
20297021@unknown@formal@none@1@S@In August, a Chicago conference on such devices attracted more than 100 researchers, who reported studies on everything from brain mapping to physical therapy.@@@@1@24@@oe@2-2-2013
20297022@unknown@formal@none@1@S@"We don't feel we can use {the devices} routinely in surgery yet, but we're getting close," says Dr. Levy, who is now with the University of Pittsburgh.@@@@1@27@@oe@2-2-2013
20297023@unknown@formal@none@1@S@A problem, he adds, is that anesthetized brains are more resistant to magnetic stimulation than awake ones.@@@@1@17@@oe@2-2-2013
20297024@unknown@formal@none@1@S@The devices could help indicate when surgery would help, says Charles Tator, a University of Toronto neurosurgeon.@@@@1@17@@oe@2-2-2013
20297025@unknown@formal@none@1@S@For example, paralyzed car-crash victims occasionally have some intact spinal tissues that, if preserved by emergency surgery, enable partial recovery.@@@@1@20@@oe@2-2-2013
20297026@unknown@formal@none@1@S@But such operations typically aren't performed because there is no sign right after an injury that surgery would be beneficial.@@@@1@20@@oe@2-2-2013
20297027@unknown@formal@none@1@S@"The cost {of magnetic stimulators} would seem like peanuts if we could retrieve limb function" in such people, Dr. Tator says.@@@@1@21@@oe@2-2-2013
20297028@unknown@formal@none@1@S@Scientists caution there is a chance the magnet technique might spark seizures in epileptics.@@@@1@14@@oe@2-2-2013
20297029@unknown@formal@none@1@S@But no significant problems have been reported among hundreds of people tested with the devices.@@@@1@15@@oe@2-2-2013
20297030@unknown@formal@none@1@S@The main sensation, besides feeling like a puppet jerked with invisible strings, is "like a rap on the head," says Sam Bridgers, a neurologist who has studied the brain stimulators at Yale University.@@@@1@33@@oe@2-2-2013
20297031@unknown@formal@none@1@S@One apparent side effect is a minor increase in a brain hormone.@@@@1@12@@oe@2-2-2013
20297032@unknown@formal@none@1@S@And some doctors who have conducted hours of tests on themselves report temporary headaches.@@@@1@14@@oe@2-2-2013
20297033@unknown@formal@none@1@S@At least two companies, Cadwell Laboratories Inc. of Kennewick, Wash., and Novametrix Medical Systems Inc. of Wallingford, Conn., now sell versions of the magnetic devices.@@@@1@25@@oe@2-2-2013
20297034@unknown@formal@none@1@S@The machines, which at $12,500 are inexpensive by medical standards, haven't been approved in the U.S. for marketing as brain stimulators but are sold for stimulating nerves in the hand, legs and other non-brain areas.@@@@1@35@@oe@2-2-2013
20297035@unknown@formal@none@1@S@Researchers can apply for permission to use the probes for brain studies.@@@@1@12@@oe@2-2-2013
20297036@unknown@formal@none@1@S@At the University of Kentucky, a team led by Dean Currier, a physical therapy researcher, is testing the stimulators in conjunction with electric shocks to induce muscle contractions to help prevent wasting of thigh muscles after knee surgery.@@@@1@38@@oe@2-2-2013
20297037@unknown@formal@none@1@S@Similarly, a Purdue University team led by heart researcher W.A. Tacker hopes to develop ways to magnetically induce cardiac muscle contractions.@@@@1@21@@oe@2-2-2013
20297038@unknown@formal@none@1@S@The devices might someday serve as temporary pacemakers or restarters for stopped hearts, says Dr. Tacker, whose prototype was dubbed the "Tacker whacker."@@@@1@23@@oe@2-2-2013
20297039@unknown@formal@none@1@S@The devices' most remarkable possibilities, though, involve the brain.@@@@1@9@@oe@2-2-2013
20297040@unknown@formal@none@1@S@Probing with the stimulators, National Institutes of Health scientists recently showed how the brain reorganizes motor-control resources after an amputation.@@@@1@20@@oe@2-2-2013
20297041@unknown@formal@none@1@S@Similar studies are expected to reveal how stroke patients' brains regroup -- a first step toward finding ways to bolster that process and speed rehabilitation.@@@@1@25@@oe@2-2-2013
20297042@unknown@formal@none@1@S@Scientists also are exploring memory and perception with the new machines.@@@@1@11@@oe@2-2-2013
20297043@unknown@formal@none@1@S@At the State University of New York at Brooklyn, researchers flash two groups of different letters on a computer screen in front of human guinea pigs.@@@@1@26@@oe@2-2-2013
20297044@unknown@formal@none@1@S@Between flashes, certain areas in subjects' brains are jolted with a magnetic stimulator.@@@@1@13@@oe@2-2-2013
20297045@unknown@formal@none@1@S@When the jolt is timed just right, the subjects don't recall seeing the first group of letters.@@@@1@17@@oe@2-2-2013
20297046@unknown@formal@none@1@S@"Where does that first stimulus go?" exclaims SUNY neurologist Paul Maccabee.@@@@1@11@@oe@2-2-2013
20297047@unknown@formal@none@1@S@"Trying to answer that is suggesting all kinds of theories," such as precisely where and how the brain processes incoming signals from the eyes.@@@@1@24@@oe@2-2-2013
20297048@unknown@formal@none@1@S@He and others say that the machines are weak enough that they don't jeopardize the memory.@@@@1@16@@oe@2-2-2013
20297049@unknown@formal@none@1@S@Both the SUNY team and researchers at the National Magnet Laboratory in Cambridge, Mass., are working with more potent magnetic brain stimulators.@@@@1@22@@oe@2-2-2013
20297050@unknown@formal@none@1@S@Among other things, the stronger devices may be able to summon forth half-forgotten memories and induce mood changes, neurologists say.@@@@1@20@@oe@2-2-2013
20298001@unknown@formal@none@1@S@Du Pont Co., Hewlett-Packard Co. and Los Alamos National Laboratory said they signed a three-year, $11 million agreement to collaborate on superconductor research.@@@@1@23@@oe@2-2-2013
20298002@unknown@formal@none@1@S@The collaboration will include at least 25 researchers and will be aimed primarily at developing thin films of high-temperature superconductors for use in electronics, the companies said.@@@@1@27@@oe@2-2-2013
20298003@unknown@formal@none@1@S@The materials, discovered during the past three years, conduct electricity without resistance and promise smaller, faster computers and other new technologies.@@@@1@21@@oe@2-2-2013
20298004@unknown@formal@none@1@S@Joint-research programs have proliferated as U.S. companies seek to spread the risks and costs of commercializing new superconductors and to meet the challenges posed by foreign consortia, especially in Japan.@@@@1@30@@oe@2-2-2013
20298005@unknown@formal@none@1@S@The latest research pact bolsters Du Pont's growing portfolio of investments in superconductors.@@@@1@13@@oe@2-2-2013
20298006@unknown@formal@none@1@S@The Wilmington, Del., chemicals concern previously signed research superconductor agreements with Oak Ridge National Laboratory and with Argonne National Laboratory.@@@@1@20@@oe@2-2-2013
20298007@unknown@formal@none@1@S@Last year, Du Pont agreed to pay $4.5 million for rights to superconductor work at the University of Houston.@@@@1@19@@oe@2-2-2013
20298008@unknown@formal@none@1@S@Hewlett-Packard is a Palo Alto, Calif., computer maker.@@@@1@8@@oe@2-2-2013
20298009@unknown@formal@none@1@S@The Los Alamos laboratory is one of three U.S. Department of Energy national laboratories designed as pilot centers to foster joint industry-government programs to speed the transfer of new superconductors to the marketplace.@@@@1@33@@oe@2-2-2013
20299001@unknown@formal@none@1@S@J.C. PENNEY Co., Dallas, said it issued $350 million of securities backed by credit-card receivables.@@@@1@15@@oe@2-2-2013
20299002@unknown@formal@none@1@S@The offering was priced with an 8.95% coupon rate at 99.1875% to yield 9.19%.@@@@1@14@@oe@2-2-2013
20299003@unknown@formal@none@1@S@The retailer said the securities are expected to be rated triple-A by Standard & Poor's Corp. and Aaa by Moody's Investors Service Inc.@@@@1@23@@oe@2-2-2013
20299004@unknown@formal@none@1@S@They pay interest only for 115 months, with principal payments beginning thereafter.@@@@1@12@@oe@2-2-2013
20299005@unknown@formal@none@1@S@The expected average life of the certificates is 10 years, with the final scheduled payment in October, 2001.@@@@1@18@@oe@2-2-2013
20299006@unknown@formal@none@1@S@First Boston Corp. is sole underwriter.@@@@1@6@@oe@2-2-2013
20299007@unknown@formal@none@1@S@As part of the transaction, J.C. Penney will sell a portion of its credit-card receivables to its JCP Receivables Inc. unit, which will then transfer them to a master trust.@@@@1@30@@oe@2-2-2013
20299008@unknown@formal@none@1@S@The trust will issue the certificates.@@@@1@6@@oe@2-2-2013
20299009@unknown@formal@none@1@S@Credit support will be provided by a letter of credit facility from Credit Suisse in favor of the trustee, Fuji Bank & Trust Co., for the benefit of the certificate holders.@@@@1@31@@oe@2-2-2013
20299010@unknown@formal@none@1@S@J.C. Penney will continue to service the receivables.@@@@1@8@@oe@2-2-2013
20300001@unknown@formal@none@1@S@Battle-tested Japanese industrial managers here always buck up nervous newcomers with the tale of the first of their countrymen to visit Mexico, a boatload of samurai warriors blown ashore 375 years ago.@@@@1@32@@oe@2-2-2013
20300002@unknown@formal@none@1@S@"From the beginning, it took a man with extraordinary qualities to succeed in Mexico," says Kimihide Takimura, president of Mitsui group's Kensetsu Engineering Inc. unit.@@@@1@25@@oe@2-2-2013
20300003@unknown@formal@none@1@S@Here in this new center for Japanese assembly plants just across the border from San Diego, turnover is dizzying, infrastructure shoddy, bureaucracy intense.@@@@1@23@@oe@2-2-2013
20300004@unknown@formal@none@1@S@Even after-hours drag; "karaoke" bars, where Japanese revelers sing over recorded music, are prohibited by Mexico's powerful musicians union.@@@@1@19@@oe@2-2-2013
20300005@unknown@formal@none@1@S@Still, 20 Japanese companies, including giants such as Sanyo Industries Corp., Matsushita Electronics Components Corp. and Sony Corp. have set up shop in the state of Northern Baja California.@@@@1@29@@oe@2-2-2013
20300006@unknown@formal@none@1@S@Keeping the Japanese happy will be one of the most important tasks facing conservative leader Ernesto Ruffo when he takes office Nov. 1, as the first opposition governor in Mexico's modern history.@@@@1@32@@oe@2-2-2013
20300007@unknown@formal@none@1@S@Mexico, with its desperate need for investment, and Japan, with its huge budget surplus, would seem like a perfect match.@@@@1@20@@oe@2-2-2013
20300008@unknown@formal@none@1@S@But the two countries remain separated by a cultural barrier wider than the ocean.@@@@1@14@@oe@2-2-2013
20300009@unknown@formal@none@1@S@Conservative Japanese investors are put off by what they consider Mexico's restrictive investment regulations and loose work habits.@@@@1@18@@oe@2-2-2013
20300010@unknown@formal@none@1@S@From the Mexicans' viewpoint, vaunted tactics of methodical Japanese managers don't count for much in a land where a saying says "there are no fixed rules."@@@@1@26@@oe@2-2-2013
20300011@unknown@formal@none@1@S@Japan ranks as only the fourth largest foreign investor in Mexico, with 5% of the total investments.@@@@1@17@@oe@2-2-2013
20300012@unknown@formal@none@1@S@That is just 1% of all the money Japan has invested abroad.@@@@1@12@@oe@2-2-2013
20300013@unknown@formal@none@1@S@Mexican President Carlos Salinas de Gortari would like to change that.@@@@1@11@@oe@2-2-2013
20300014@unknown@formal@none@1@S@The young president so admires Japanese discipline that he sends his children to a Japanese school in Mexico City.@@@@1@19@@oe@2-2-2013
20300015@unknown@formal@none@1@S@He already has finagled a $2 billion loan from the Japanese government.@@@@1@12@@oe@2-2-2013
20300016@unknown@formal@none@1@S@But Mexico urgently needs more help.@@@@1@6@@oe@2-2-2013
20300017@unknown@formal@none@1@S@Mr. Salinas's unpopular Institutional Revolutionary Party, or PRI, faces congressional elections in 1991.@@@@1@13@@oe@2-2-2013
20300018@unknown@formal@none@1@S@For the PRI to stand a chance, Mr. Salinas has to press on with an economic program that so far has succeeded in lowering inflation and providing moderate economic growth.@@@@1@30@@oe@2-2-2013
20300019@unknown@formal@none@1@S@But maintaining the key components of his strategy -- a stable exchange rate and high level of imports -- will consume enormous amounts of foreign exchange.@@@@1@26@@oe@2-2-2013
20300020@unknown@formal@none@1@S@Mr. Salinas needs big investment inflows -- quickly.@@@@1@8@@oe@2-2-2013
20300021@unknown@formal@none@1@S@The problem is that Japanese businesses make decisions with a view well beyond the coming months that weigh so heavily on Mr. Salinas.@@@@1@23@@oe@2-2-2013
20300022@unknown@formal@none@1@S@"The Japanese will come to Mexico, but not immediately," says Kazushige Suzuki, director-general of the Japanese External Trade Organization in Mexico.@@@@1@21@@oe@2-2-2013
20300023@unknown@formal@none@1@S@If not now, when?@@@@1@4@@oe@2-2-2013
20300024@unknown@formal@none@1@S@"When the fruit is ripe, it falls from the tree by itself," he says.@@@@1@14@@oe@2-2-2013
20300025@unknown@formal@none@1@S@Pressed on the matter, he is more specific.@@@@1@8@@oe@2-2-2013
20300026@unknown@formal@none@1@S@"There will be big Japanese investments probably five to 10 years from now."@@@@1@13@@oe@2-2-2013
20300027@unknown@formal@none@1@S@Ryukichi Imai, Japan's ambassador to Mexico, agrees that Mexico may be too eager.@@@@1@13@@oe@2-2-2013
20300028@unknown@formal@none@1@S@"There seems to be a presumption in some sectors of (Mexico's) government that there is a lot of Japanese money waiting behind the gate, and that by slightly opening the gate, that money will enter Mexico.@@@@1@36@@oe@2-2-2013
20300029@unknown@formal@none@1@S@I don't think that is the case."@@@@1@7@@oe@2-2-2013
20300030@unknown@formal@none@1@S@Mexican officials maintain the Japanese reserve is only a result of unfamiliarity.@@@@1@12@@oe@2-2-2013
20300031@unknown@formal@none@1@S@"Because of distance, it takes a while for them to appreciate the economic stability we've achieved," says one economic policymaker.@@@@1@20@@oe@2-2-2013
20300032@unknown@formal@none@1@S@Mexico is sending a number of missions to Japan looking for a major breakthrough investment in telecommunications, petrochemicals or tourism.@@@@1@20@@oe@2-2-2013
20300033@unknown@formal@none@1@S@It is hoped that other Japanese would then follow the leader.@@@@1@11@@oe@2-2-2013
20300034@unknown@formal@none@1@S@But Japanese investors say that their reluctance to invest stems not only from concerns about Mexico's economic outlook, but also reservations about Mexico's recently revamped investment law.@@@@1@27@@oe@2-2-2013
20300035@unknown@formal@none@1@S@Unable to get a new law through a congress with a strong leftist bloc, Mexico jury-rigged the existing law's regulations.@@@@1@20@@oe@2-2-2013
20300036@unknown@formal@none@1@S@It created special 20-year trusts to allow foreigners 100% ownership in some once-closed industries.@@@@1@14@@oe@2-2-2013
20300037@unknown@formal@none@1@S@It also made artful use of semantics, redefining as non-strategic industries some that had been in the national domain.@@@@1@19@@oe@2-2-2013
20300038@unknown@formal@none@1@S@"Those devices don't give sufficient certainty to our bosses in Japan," says Yasuo Nakamura, representative of the Industrial Bank of Japan.@@@@1@21@@oe@2-2-2013
20300039@unknown@formal@none@1@S@Mr. Nakamura cites the case of a customer who wants to build a giant tourism complex in Baja and has been trying for eight years to get around Mexican restrictions on foreign ownership of beachfront property.@@@@1@36@@oe@2-2-2013
20300040@unknown@formal@none@1@S@He could develop the beach through a trust, but instead is trying have his grandson become a naturalized Mexican so his family gains direct control.@@@@1@25@@oe@2-2-2013
20300041@unknown@formal@none@1@S@Some say the best hope for the Mexicans is catching the eye of Japan by promoting the one industry the Japanese clearly like -- the border assembly plants, known as "maquiladoras," which are open to 100% foreign control.@@@@1@38@@oe@2-2-2013
20300042@unknown@formal@none@1@S@"We must do more to help the Japanese here in Baja if we want them to invest elsewhere," says Mr. Ruffo, the governor-elect of the National Action Party and himself a succesful businessman.@@@@1@33@@oe@2-2-2013
20300043@unknown@formal@none@1@S@Plant operators are heartened by Mr. Ruffo's pledge to cut corruption associated with the ruling party officials.@@@@1@17@@oe@2-2-2013
20300044@unknown@formal@none@1@S@But Mr. Ruffo frets that an even bigger problem could be protectionism from the U.S., where some politicians oppose what they consider Japanese efforts to use maquiladoras to crack the U.S. market through the back door.@@@@1@36@@oe@2-2-2013
20301001@unknown@formal@none@1@S@Shaken by tumbling stock prices and pessimistic projections of U.S. economic growth, currency analysts around the world have toned down their assessments of the dollar's near-term performance.@@@@1@27@@oe@2-2-2013
20301002@unknown@formal@none@1@S@Most of the 10 analysts polled last week by Dow Jones International News Service in Frankfurt, Tokyo, London and New York expect the U.S. dollar to ease only mildly in November.@@@@1@31@@oe@2-2-2013
20301003@unknown@formal@none@1@S@Opinion is mixed over its three-month prospects.@@@@1@7@@oe@2-2-2013
20301004@unknown@formal@none@1@S@Half of those polled see the currency trending lower over the next three months, while the others forecast a modest rebound after the New Year.@@@@1@25@@oe@2-2-2013
20301005@unknown@formal@none@1@S@In late afternoon New York trading yesterday, the dollar stood at 1.8415 West German marks, up from 1.8340 marks late Monday, and at 142.85 yen, up from 141.90 yen late Monday.@@@@1@31@@oe@2-2-2013
20301006@unknown@formal@none@1@S@A month ago, a similar survey predicted the dollar would be trading at 1.8690 marks and 139.75 yen by the end of October.@@@@1@23@@oe@2-2-2013
20301007@unknown@formal@none@1@S@Sterling was trading at $1.5805, down from $1.5820 late Monday.@@@@1@10@@oe@2-2-2013
20301008@unknown@formal@none@1@S@In Tokyo Wednesday, the U.S. currency was trading at about 142.95 yen at midmorning, up from 142.80 yen at the opening and up from Tuesday's Tokyo close of 142.15 yen.@@@@1@30@@oe@2-2-2013
20301009@unknown@formal@none@1@S@The average of estimates of the 10 economists polled puts the dollar around 1.8200 marks at the end of November and at 141.33 yen.@@@@1@24@@oe@2-2-2013
20301010@unknown@formal@none@1@S@By late January, the consensus calls for the dollar to be trading around 1.8200 marks and near 142 yen.@@@@1@19@@oe@2-2-2013
20301011@unknown@formal@none@1@S@Those with a bullish view see the dollar trading up near 1.9000 marks and 145 yen, while the dollar bears see the U.S. currency trading around 1.7600 marks and 138 yen.@@@@1@31@@oe@2-2-2013
20301012@unknown@formal@none@1@S@A number of those polled predict the dollar will slip as the Federal Reserve eases interest rates.@@@@1@17@@oe@2-2-2013
20301013@unknown@formal@none@1@S@David Owen, an economist at Kleinwort Benson & Co. in London, said he expects further cuts in short-term U.S. rates in an effort to encourage a narrowing of the trade gap and to ensure a soft landing in the U.S. economy.@@@@1@41@@oe@2-2-2013
20301014@unknown@formal@none@1@S@Robert White, a vice president and manager of corporate trade at First Interstate of California, agreed with that view and predicted the U.S. federal funds rate will drop to between 7 3/4% and 8% within 60 days from its current level at 8 13/16%.@@@@1@44@@oe@2-2-2013
20301015@unknown@formal@none@1@S@Fed funds is the rate banks charge each other on overnight loans; the Fed influences the rate by adding or draining reserves from the banking system.@@@@1@26@@oe@2-2-2013
20301016@unknown@formal@none@1@S@Mr. White also predicted a half-point cut in the U.S. discount rate in the near future.@@@@1@16@@oe@2-2-2013
20301017@unknown@formal@none@1@S@The discount rate, currently 7%, is the rate the Fed charges member banks for loans, using government securities as collateral.@@@@1@20@@oe@2-2-2013
20301018@unknown@formal@none@1@S@He expects such a cut "because of problems in several sectors of the economy, particularly real estate and automobiles."@@@@1@19@@oe@2-2-2013
20301019@unknown@formal@none@1@S@Bolstering his argument, the Commerce Department reported yesterday that new home sales for September were down 14% from August's revised 3.1% fall.@@@@1@22@@oe@2-2-2013
20301020@unknown@formal@none@1@S@The drop marked the largest monthly tumble since a 19% slide in January 1982.@@@@1@14@@oe@2-2-2013
20301021@unknown@formal@none@1@S@In last month's survey, a number of currency analysts predicted the dollar would be pressured by a narrowing of interest rate differentials between the U.S. and West Germany.@@@@1@28@@oe@2-2-2013
20301022@unknown@formal@none@1@S@Indeed, in early October the West German central bank raised its discount and Lombard rates by a full percentage point.@@@@1@20@@oe@2-2-2013
20301023@unknown@formal@none@1@S@Several other European central banks, notably in Britain, followed the West German Bundesbank's lead by raising their own key rates.@@@@1@20@@oe@2-2-2013
20301024@unknown@formal@none@1@S@And a week later, Japan raised its official discount rate by a half point to 3.75%.@@@@1@16@@oe@2-2-2013
20301025@unknown@formal@none@1@S@The Japanese discount rate is the central bank's base rate on loans to commercial banks.@@@@1@15@@oe@2-2-2013
20301026@unknown@formal@none@1@S@After a surprisingly sharp widening in the U.S. August merchandise trade deficit -- $10.77 billion from a revised $8.24 billion in July and well above expectations -- and a startling 190-point drop in stock prices on Oct. 13, the Federal Reserve relaxed short-term interest rates, knocking fed funds from around 9% to 8 3/4%.@@@@1@54@@oe@2-2-2013
20301027@unknown@formal@none@1@S@But predictions that central banks of the Group of Seven (G-7) major industrial nations would continue their massive dollar sales went astray, as the market drove the dollar downward on its own, reacting to Wall Street's plunge and subsequent price volatility, lower U.S. interest rates and signs of a slowing U.S. economy.@@@@1@52@@oe@2-2-2013
20301028@unknown@formal@none@1@S@G-7 consists of the U.S., Japan, Britain, West Germany, Canada, France and Italy.@@@@1@13@@oe@2-2-2013
20301029@unknown@formal@none@1@S@Tomoshige Kakita, senior deputy manager in the treasury department of Mitsui Bank Ltd. in Tokyo, suggested that uncertainty about U.S. stocks and bonds has made Japanese investors leery of holding those securities in the near term, thus damping dollar demand.@@@@1@40@@oe@2-2-2013
20301030@unknown@formal@none@1@S@But, Mr. Kakita added, once U.S. equities regain some stability, players will move back into dollar-denominated investments, especially Treasury bonds, whose value rises when interest rates decline.@@@@1@27@@oe@2-2-2013
20301031@unknown@formal@none@1@S@Mr. Kakita said the key dollar-yen exchange rate is at 135 yen.@@@@1@12@@oe@2-2-2013
20301032@unknown@formal@none@1@S@"If 135 is broken, some panic will be seen," he predicted, explaining that Japanese institutions are comfortable with the dollar anywhere between current levels and 135 yen.@@@@1@27@@oe@2-2-2013
20301033@unknown@formal@none@1@S@Jens-Uwe Fischer, a senior trader at Manufacturers Hanover Trust Co. in Frankfurt, said he expects the dollar to recover within the next three months to around 1.88 marks as U.S. economic data, particularly U.S. trade figures, level off.@@@@1@38@@oe@2-2-2013
20301034@unknown@formal@none@1@S@He contended that the Fed won't ease rates further, but predicted Bundesbank officials will relax key rates in West Germany.@@@@1@20@@oe@2-2-2013
20301035@unknown@formal@none@1@S@Alfred Zapfel, chief trader at Bank of Boston in Frankfurt, took an opposite stance.@@@@1@14@@oe@2-2-2013
20301036@unknown@formal@none@1@S@He said he expects U.S. interest rates to decline, dragging the dollar down to around 1.80 marks by the end of January after a short-lived dash to 1.87 marks by the end of November.@@@@1@34@@oe@2-2-2013
20301037@unknown@formal@none@1@S@West German interest rates, he said, will remain unchanged.@@@@1@9@@oe@2-2-2013
20301038@unknown@formal@none@1@S@"But I'm not one of these great dollar bears you see more of these days," Mr. Zapfel said.@@@@1@18@@oe@2-2-2013
20301039@unknown@formal@none@1@S@"I can't really see it dropping far below 1.80 marks."@@@@1@10@@oe@2-2-2013
20301040@unknown@formal@none@1@S@Scott Greene, chief foreign exchange dealer with Julius Baer & Co. in New York, fits the description of a "great dollar bear."@@@@1@22@@oe@2-2-2013
20301041@unknown@formal@none@1@S@He predicted the U.S. unit will skid below 1.80 marks to around 1.78 marks this month and 1.75 marks by the beginning of the new year.@@@@1@26@@oe@2-2-2013
20301042@unknown@formal@none@1@S@"We're finally seeing the culmination of all the recessionary buildup of the last few months," he said, noting a continuing downward trend in U.S. interest rates, a shaky stock market and "gloomier economic times ahead" all signal a significantly lower dollar.@@@@1@41@@oe@2-2-2013
20301043@unknown@formal@none@1@S@In the wake of British Chancellor of the Exchequer Nigel Lawson's surprise resignation and sterling's subsequent nose-dive, most analysts had little good to say about the pound's near-term prospects.@@@@1@29@@oe@2-2-2013
20301044@unknown@formal@none@1@S@Mr. Owen of Kleinwort Benson suggested that the new chancellor, John Major, will take a tough line in his autumn statement later this month, helping to underpin the pound.@@@@1@29@@oe@2-2-2013
20301045@unknown@formal@none@1@S@But, he warned, the currency will remain at risk.@@@@1@9@@oe@2-2-2013
20301046@unknown@formal@none@1@S@On the Commodity Exchange in New York, gold for current delivery dropped $3.10 to $374.70 an ounce in moderate trading.@@@@1@20@@oe@2-2-2013
20301047@unknown@formal@none@1@S@Estimated volume was 3.5 million ounces.@@@@1@6@@oe@2-2-2013
20301048@unknown@formal@none@1@S@In early trading in Hong Kong Wednesday, gold was quoted at $373.80 an ounce.@@@@1@14@@oe@2-2-2013
20301049@unknown@formal@none@1@S@Christopher Hill in Tokyo, Nicholas Hastings in London, Erik Kirschbaum in Frankfurt and Caitlin Randall and Douglas Appell in New York contributed to this article.@@@@1@25@@oe@2-2-2013
20302001@unknown@formal@none@1@S@West Germany will repeal the unpopular turnover tax on securities transactions as of Jan. 1, 1991, Economics Minister Helmut Haussmann said.@@@@1@21@@oe@2-2-2013
20302002@unknown@formal@none@1@S@He said the government will also repeal the 1% transaction tax on the first-time purchase of stakes in companies.@@@@1@19@@oe@2-2-2013
20302003@unknown@formal@none@1@S@The announcement follows several comments by government officials that the government will speed up the repeal of the tax, which was originally scheduled to fall with the start of the single internal market in the European Community at the end of 1992.@@@@1@42@@oe@2-2-2013
20302004@unknown@formal@none@1@S@The securities-turnover tax has been long criticized by the West German financial community because it tends to drive securities trading and other banking activities out of Frankfurt into rival financial centers, especially London, where trading transactions isn't taxed.@@@@1@38@@oe@2-2-2013
20302005@unknown@formal@none@1@S@The tax has raised less than one billion marks ($545.3 million) annually in recent years, but the government has been reluctant to abolish the levy for budgetary concerns.@@@@1@28@@oe@2-2-2013
20302006@unknown@formal@none@1@S@In the interview, Mr. Haussmann didn't specify the amount of revenue the government will lose after the tax disappears.@@@@1@19@@oe@2-2-2013
20302007@unknown@formal@none@1@S@The new date means that the tax will be officially repealed before the end of the current parliamentary term at the end of 1990 and guarantees its abolition even if the current center-right coalition loses the elections in December 1990.@@@@1@40@@oe@2-2-2013
20303001@unknown@formal@none@1@S@Earlier this year, President Bush made a final "take-it-or-leave it" offer on the minimum wage: an increase to $4.25 an hour over three years, and only if accompanied by a lower wage for the first six months of a job.@@@@1@40@@oe@2-2-2013
20303002@unknown@formal@none@1@S@Now, the White House has decided to accept the higher wage over only two years.@@@@1@15@@oe@2-2-2013
20303003@unknown@formal@none@1@S@The sub-minimum wage would apply only to first-time teen-age workers for 90 days.@@@@1@13@@oe@2-2-2013
20303004@unknown@formal@none@1@S@The White House had enough votes to sustain a veto but chose to avoid a confrontation.@@@@1@16@@oe@2-2-2013
20303005@unknown@formal@none@1@S@The only permanent losers will be the 200,000 or so workers everyone agrees will be priced out of a job at the $4.25 rate Congress is likely to approve today.@@@@1@30@@oe@2-2-2013
20303006@unknown@formal@none@1@S@It is compromises such as this that convince Washington's liberals that if they simply stay the course, this administration will stray from its own course on this and other issues.@@@@1@30@@oe@2-2-2013
20304001@unknown@formal@none@1@S@The head trader of Chemical Banking Corp.'s interest-rate options group has left the company, following valuation errors that resulted in a $33 million charge against its third-quarter results.@@@@1@28@@oe@2-2-2013
20304002@unknown@formal@none@1@S@Chemical said Steven Edelson resigned recently, but one individual close to the situation said the resignation was forced.@@@@1@18@@oe@2-2-2013
20304003@unknown@formal@none@1@S@Mr. Edelson couldn't be reached for comment.@@@@1@7@@oe@2-2-2013
20304004@unknown@formal@none@1@S@A separate inquiry by Chemical cleared Mr. Edelson of allegations that he had been lavishly entertained by a New York money broker.@@@@1@22@@oe@2-2-2013
20304005@unknown@formal@none@1@S@That inquiry hasn't resolved similar allegations involving another Chemical options trader.@@@@1@11@@oe@2-2-2013
20304006@unknown@formal@none@1@S@In other personnel changes stemming from problems in its options unit:@@@@1@11@@oe@2-2-2013
20304007@unknown@formal@none@1@S@-- Chemical named James Kennedy, a trader in swaps contracts for the bank, to assume Mr. Edelson's duties and to be trading manager for derivative products, including swaps and interest-rate options.@@@@1@31@@oe@2-2-2013
20304008@unknown@formal@none@1@S@-- Lee Wakeman, vice president in charge of options research who discovered the valuation errors and was asked by senior management to straighten out the mess, resigned to take a position in asset and liability management at Continental Bank in Chicago.@@@@1@41@@oe@2-2-2013
20304009@unknown@formal@none@1@S@Mr. Wakeman, whom Chemical tried to keep, didn't return calls for comment.@@@@1@12@@oe@2-2-2013
20304010@unknown@formal@none@1@S@Separately, Chemical confirmed that it took an undisclosed charge in the second quarter for losses on forward-rate agreements involving foreign currency written by its branch in Frankfurt, West Germany.@@@@1@29@@oe@2-2-2013
20304011@unknown@formal@none@1@S@A Chemical spokeswoman said the second-quarter charge was "not material" and that no personnel changes were made as a result.@@@@1@20@@oe@2-2-2013
20304012@unknown@formal@none@1@S@The spokeswoman said the Frankfurt situation was "totally different" from problems in the interest-rate options unit.@@@@1@16@@oe@2-2-2013
20304013@unknown@formal@none@1@S@According to individuals familiar with the situation, the Frankfurt loss stemmed from a computer program for calculating prices on forward-rate agreements that failed to envision an interest-rate environment where short-term rates were equal to or higher than long-term rates.@@@@1@39@@oe@2-2-2013
20304014@unknown@formal@none@1@S@While the incidents involving interest-rate options and forward-rate agreements are unrelated, some observers say they echo a 1987 incident in which Bankers Trust New York Corp. restated the value of its foreign exchange options contracts downward by about $80 million.@@@@1@40@@oe@2-2-2013
20304015@unknown@formal@none@1@S@These complex products require close monitoring because each must be valued separately in light of current market conditions.@@@@1@18@@oe@2-2-2013
20304016@unknown@formal@none@1@S@In an interest-rate options contract, a client pays a fee to a bank for custom-tailored protection against adverse interest-rate swings for a specified period.@@@@1@24@@oe@2-2-2013
20304017@unknown@formal@none@1@S@In a forward-rate agreement, a client agrees to an exchange rate on a future currency transaction.@@@@1@16@@oe@2-2-2013
20304018@unknown@formal@none@1@S@Some competitors maintain the interestrate option loss, in particular, may have resulted more from Chemical's taking large and often contrarian positions than a valuation problem.@@@@1@25@@oe@2-2-2013
20304019@unknown@formal@none@1@S@Started three years ago, Chemical's interest-rate options group was a leading force in the field.@@@@1@15@@oe@2-2-2013
20304020@unknown@formal@none@1@S@From 1987 to 1988, the value of Chemical's option contracts outstanding mushroomed to $37 billion from $17 billion.@@@@1@18@@oe@2-2-2013
20304021@unknown@formal@none@1@S@More importantly, the volume of options written exceeded those purchased by almost 2-to-1.@@@@1@13@@oe@2-2-2013
20304022@unknown@formal@none@1@S@With such a lopsided book of options, traders say, Chemical was more vulnerable to erroneous valuation assumptions.@@@@1@17@@oe@2-2-2013
20304023@unknown@formal@none@1@S@The Chemical spokeswoman said the bank has examined its methodologies and internal controls.@@@@1@13@@oe@2-2-2013
20304024@unknown@formal@none@1@S@"We consider our internal controls to have worked well," she said, adding that some procedures have been strengthened.@@@@1@18@@oe@2-2-2013
20304025@unknown@formal@none@1@S@Its valuation methodologies, she said, "are recognized as some of the best on the Street.@@@@1@15@@oe@2-2-2013
20304026@unknown@formal@none@1@S@Not a lot was needed to be done.@@@@1@8@@oe@2-2-2013
20305001@unknown@formal@none@1@S@When Thomas W. Wathen went big league last year, he acquired a treasure-trove of Americana along with a well-known but ailing security business: Pinkerton's Inc.@@@@1@25@@oe@2-2-2013
20305002@unknown@formal@none@1@S@There was a wanted poster offering "Rewards for the Arrest of Express and Train Robbers Frank James and Jesse W. James" and the original Pinkerton's logo with an open eye and the inscription "We Never Sleep," which inspired the phrase "private eye."@@@@1@42@@oe@2-2-2013
20305003@unknown@formal@none@1@S@Then there were two gold watches once owned by Allan Pinkerton, who founded the company in Chicago in 1850.@@@@1@19@@oe@2-2-2013
20305004@unknown@formal@none@1@S@But there were supposed to be three, Mr. Wathen's company claims.@@@@1@11@@oe@2-2-2013
20305005@unknown@formal@none@1@S@The missing watch is emblematic of the problems Mr. Wathen encountered in building his closely held California Plant Protection Security Service into the largest detective and security agency in the U.S. through acquisitions.@@@@1@33@@oe@2-2-2013
20305006@unknown@formal@none@1@S@The ever-optimistic Mr. Wathen has learned that while acquiring a big brand-name company can be a shortcut to growth, it can also bring a host of unforeseen problems.@@@@1@28@@oe@2-2-2013
20305007@unknown@formal@none@1@S@"We cleared out a lot of rats' nests," says the 60-year-old security veteran.@@@@1@13@@oe@2-2-2013
20305008@unknown@formal@none@1@S@Mr. Wathen, who started his career as an Air Force investigator and worked as a security officer for several large companies, built his California Plant Protection from a tiny mom-and-pop security patrol firm here in the San Fernando Valley.@@@@1@39@@oe@2-2-2013
20305009@unknown@formal@none@1@S@He joined the firm in 1963 and bought it from the owners the next year.@@@@1@15@@oe@2-2-2013
20305010@unknown@formal@none@1@S@Over the next 20 years, California Plant Protection opened 125 offices around the country.@@@@1@14@@oe@2-2-2013
20305011@unknown@formal@none@1@S@Yet although California Plant Protection was netting bigger and bigger clients -- the firm provided security for the 1984 Summer Olympics in Los Angeles -- it still didn't have the name recognition of Pinkerton's.@@@@1@34@@oe@2-2-2013
20305012@unknown@formal@none@1@S@So when American Brands Inc. decided to sell the unit in 1987 as part of a divestiture of its food and security industries operations, Mr. Wathen saw a chance to accomplish several objectives.@@@@1@33@@oe@2-2-2013
20305013@unknown@formal@none@1@S@He decided he could easily merge Pinkerton's operations with his own while slashing overhead costs because the two already operated in many of the same cities.@@@@1@26@@oe@2-2-2013
20305014@unknown@formal@none@1@S@He could acquire a staff of loyal Pinkerton's employees, many of whom had spent their entire careers with the firm, he could eliminate a competitor and he could get the name recognition he'd wanted.@@@@1@34@@oe@2-2-2013
20305015@unknown@formal@none@1@S@Mr. Wathen also relished the chance to demonstrate an entrepreneur like himself, who'd spent his whole career in the security business, could run Pinkerton's better than an unfocused conglomerate or investment banker.@@@@1@32@@oe@2-2-2013
20305016@unknown@formal@none@1@S@"The security business is my favorite subject.@@@@1@7@@oe@2-2-2013
20305017@unknown@formal@none@1@S@I love this business," he says.@@@@1@6@@oe@2-2-2013
20305018@unknown@formal@none@1@S@"Most of the LBO guys don't know how to run a business anyway."@@@@1@13@@oe@2-2-2013
20305019@unknown@formal@none@1@S@But there were hitches, not the least of which was that, Mr. Wathen says, he proceeded almost blindly in doing the $95 million acquisition, which was completed in January 1988.@@@@1@30@@oe@2-2-2013
20305020@unknown@formal@none@1@S@"We weren't allowed to do any due diligence because of competitive reasons.@@@@1@12@@oe@2-2-2013
20305021@unknown@formal@none@1@S@If we had, it might have scared us off," he says.@@@@1@11@@oe@2-2-2013
20305022@unknown@formal@none@1@S@Five years of rapid expansion under American Brands, with an emphasis on marketing the agency's services instead of improving them, had hurt Pinkerton's profits, Mr. Wathen claims.@@@@1@27@@oe@2-2-2013
20305023@unknown@formal@none@1@S@He says his team couldn't tell whether accounts receivable had been paid or not.@@@@1@14@@oe@2-2-2013
20305024@unknown@formal@none@1@S@Pinkerton's had locked itself into low-price contracts to win new business, with no hope of profitability until the contracts expired, he adds.@@@@1@22@@oe@2-2-2013
20305025@unknown@formal@none@1@S@And regional offices were "egregiously overstaffed," he claims.@@@@1@8@@oe@2-2-2013
20305026@unknown@formal@none@1@S@One office had 19 people doing the work of three, "and half of the employees had company automobiles."@@@@1@18@@oe@2-2-2013
20305027@unknown@formal@none@1@S@American Brands declined to comment on Mr. Wathen's accusations.@@@@1@9@@oe@2-2-2013
20305028@unknown@formal@none@1@S@The acquisition combined the country's second-largest security company, Pinkerton's, with 1987 sales of $410 million, and the fourth largest, California Plant Protection, with $250 million in sales, creating the industry's biggest firm, which took on the Pinkerton's name.@@@@1@38@@oe@2-2-2013
20305029@unknown@formal@none@1@S@Even after divesting itself of $120 million of unprofitable business, the new Pinkerton's will have sales of about $610 million this year and operating profit roughly double the industry average of 2%-3% of sales, says Lloyd Greif of Sutro & Co. in Los Angeles, which arranged the Pinkerton's acquisition.@@@@1@49@@oe@2-2-2013
20305030@unknown@formal@none@1@S@Mr. Wathen says his turnaround strategy has been simple: just hack away at the fat.@@@@1@15@@oe@2-2-2013
20305031@unknown@formal@none@1@S@He began by closing 120 of the combined companies' 260 offices in two months, eliminating about 31% of the company's 2,500-person adminstrative staff, including more than 100 sales positions.@@@@1@29@@oe@2-2-2013
20305032@unknown@formal@none@1@S@He shut down the company's tony New York headquarters.@@@@1@9@@oe@2-2-2013
20305033@unknown@formal@none@1@S@Pinkerton's world headquarters today is a nondescript, two-story office building across the street from the small Van Nuys Airport.@@@@1@19@@oe@2-2-2013
20305034@unknown@formal@none@1@S@Next, Mr. Wathen raised Pinkerton's rates, which were 75-cents-an-hour lower than California Plant Protection's average rate of around $8.63.@@@@1@19@@oe@2-2-2013
20305035@unknown@formal@none@1@S@And he got rid of low-margin businesses that just weren't making money for the company.@@@@1@15@@oe@2-2-2013
20305036@unknown@formal@none@1@S@Mr. Wathen, who says Pinkerton's had a loss of nearly $8 million in 1987 under American Brands, boasts that he's made Pinkerton's profitable again.@@@@1@24@@oe@2-2-2013
20305037@unknown@formal@none@1@S@But Mr. Wathen's team still must pay down about $82 million of long-term bank debt from the acquisition within the next four years.@@@@1@23@@oe@2-2-2013
20305038@unknown@formal@none@1@S@Last year, earnings of the combined companies didn't cover debt service and Pinkerton's was forced to borrow $20 million of subordinated debt.@@@@1@22@@oe@2-2-2013
20305039@unknown@formal@none@1@S@"We wouldn't have had to refinance if a lot of the problems hadn't been there," Mr. Wathen says.@@@@1@18@@oe@2-2-2013
20305040@unknown@formal@none@1@S@This year, Mr. Wathen says the firm will be able to service debt and still turn a modest profit.@@@@1@19@@oe@2-2-2013
20305041@unknown@formal@none@1@S@Now Pinkerton's could become entangled in a protracted legal fracas with its former parent.@@@@1@14@@oe@2-2-2013
20305042@unknown@formal@none@1@S@The company recently filed suit in state court in Los Angeles against American Brands, seeking at least $40 million in damages from the Old Greenwich, Conn.-based company.@@@@1@27@@oe@2-2-2013
20305043@unknown@formal@none@1@S@The suit alleges that American Brands misrepresented the financial condition of Pinkerton's before the sale, failed to disclose pending lawsuits and material contracts in which Pinkerton's was in default, hadn't registered the Pinkerton's name and trademark in the United Kingdom and didn't tell California Plant Protection about some labor controversies.@@@@1@50@@oe@2-2-2013
20305044@unknown@formal@none@1@S@"We have previously had discussions with representatives of Pinkerton's Inc. concerning the {sale of the company} and we concluded that we did not have liability under the contract," says American Brands.@@@@1@31@@oe@2-2-2013
20305045@unknown@formal@none@1@S@"As this is now a litigation matter, we have no further comment."@@@@1@12@@oe@2-2-2013
20305046@unknown@formal@none@1@S@And then there's the case of the missing gold watch.@@@@1@10@@oe@2-2-2013
20305047@unknown@formal@none@1@S@The lawsuit alleges that an inventory of Pinkerton's memorabilia disclosed that one of the watches hadn't been forked over by American Brands.@@@@1@22@@oe@2-2-2013
20305048@unknown@formal@none@1@S@"American Brand's failure to surrender the gold watch has damaged new Pinkerton's in an amount as yet {to be} determined and deprived it of a valuable artifact for which it had bargained," the suit charges.@@@@1@35@@oe@2-2-2013
20305049@unknown@formal@none@1@S@The key to Pinkerton's future will be sticking to what it does best -- being a security company, says Mr. Wathen.@@@@1@21@@oe@2-2-2013
20305050@unknown@formal@none@1@S@The company is also renewing its emphasis on investigations, particularly undercover investigations for corporations.@@@@1@14@@oe@2-2-2013
20305051@unknown@formal@none@1@S@Although investigations now account for only about 5% of Pinkerton's total revenue, that side of the business has traditionally been the more "glamorous" of the two and it carries historical and sentimental value.@@@@1@33@@oe@2-2-2013
20305052@unknown@formal@none@1@S@(Author Dashiell Hammett, who wrote "The Maltese Falcon," was a former Pinkerton's detective.)@@@@1@13@@oe@2-2-2013
20305053@unknown@formal@none@1@S@American Brands "just had a different approach," Mr. Wathen says.@@@@1@10@@oe@2-2-2013
20305054@unknown@formal@none@1@S@"Their approach didn't work; mine is.@@@@1@6@@oe@2-2-2013
20306001@unknown@formal@none@1@S@Farm prices in October edged up 0.7% from September as raw milk prices continued their rise, the Agriculture Department said.@@@@1@20@@oe@2-2-2013
20306002@unknown@formal@none@1@S@Milk sold to the nation's dairy plants and dealers averaged $14.50 for each hundred pounds, up 50 cents from September and up $1.50 from October 1988, the department said.@@@@1@29@@oe@2-2-2013
20306003@unknown@formal@none@1@S@Commercial vegetables, led by lettuce and tomatoes, rose 19% in October; oranges and other fruits rose 5%.@@@@1@17@@oe@2-2-2013
20306004@unknown@formal@none@1@S@Broiler prices fell 6.5 cents in October to 30.6 cents a pound, while turkey prices rose 1.2 cents a pound to 38.5 cents.@@@@1@23@@oe@2-2-2013
20306005@unknown@formal@none@1@S@Egg prices averaged 64.2 cents a dozen, down 0.2 cent from September.@@@@1@12@@oe@2-2-2013
20306006@unknown@formal@none@1@S@Hogs rose $3.40 to $46.80 a hundredweight in October, while beef cattle slipped 80 cents to $67.40 for each hundred pounds and calves dropped 90 cents to $90.20.@@@@1@28@@oe@2-2-2013
20306007@unknown@formal@none@1@S@Soybeans averaged $5.28 a bushel, down 42 cents from September; corn averaged $2.20, down seven cents, and sorghum grain averaged $3.61 for each hundred pounds, down 19 cents, according to the department.@@@@1@32@@oe@2-2-2013
20307001@unknown@formal@none@1@S@Paramount Communications Inc., New York, completed the sale of its Associates Corp. consumer and commercial finance subsidiary to a unit of Ford Motor Co. for $3.35 billion.@@@@1@27@@oe@2-2-2013
20307002@unknown@formal@none@1@S@Paramount, which agreed to sell the unit in July, said it would realize net proceeds from the sale of $2.6 billion, with an after-tax gain of $1.2 billion.@@@@1@28@@oe@2-2-2013
20307003@unknown@formal@none@1@S@Paramount said the gain would be recorded in its fourth quarter, which ended yesterday.@@@@1@14@@oe@2-2-2013
20307004@unknown@formal@none@1@S@Paramount said the sale "completes the strategic restructuring" it began in 1983, and would enable it to focus on its entertainment and publishing businesses.@@@@1@24@@oe@2-2-2013
20307005@unknown@formal@none@1@S@Ford said in July it planned to operate Associates, based in Dallas, as a separate entity in its Ford Financial Services Group.@@@@1@22@@oe@2-2-2013
20307006@unknown@formal@none@1@S@Paramount said Associates has about $14 billion in total assets, making it third-largest in terms of assets among independent finance companies in the U.S.@@@@1@24@@oe@2-2-2013
20308001@unknown@formal@none@1@S@Sea Containers Ltd., in a long-awaited move to repel a hostile takeover bid, said it will sell $1.1 billion of assets and use some of the proceeds to buy about 50% of its common shares for $70 apiece.@@@@1@38@@oe@2-2-2013
20308002@unknown@formal@none@1@S@Together with the 3.6 million shares currently controlled by management, subsidiaries and directors, the completed tender offer would give Sea Containers a controlling stake.@@@@1@24@@oe@2-2-2013
20308003@unknown@formal@none@1@S@Describing itself as "asset rich," Sea Containers said it will move immediately to sell two ports, various ferries, ferry services, containers, and other investments.@@@@1@24@@oe@2-2-2013
20308004@unknown@formal@none@1@S@Of the proceeds, $500 million will be used to fund its tender offer.@@@@1@13@@oe@2-2-2013
20308005@unknown@formal@none@1@S@Sea Containers added that the recapitalization plan will reduce its debt by more than $500 million.@@@@1@16@@oe@2-2-2013
20308006@unknown@formal@none@1@S@The company, which has 13.8 million common shares outstanding, said in mid-June that it was considering a restructuring to ward off a hostile takeover attempt by two European shipping concerns.@@@@1@30@@oe@2-2-2013
20308007@unknown@formal@none@1@S@In late May, Stena Holding AG and Tiphook PLC, launched a $50-a-share, or $777 million, tender offer for the Hamilton, Bermuda-based Sea Containers.@@@@1@23@@oe@2-2-2013
20308008@unknown@formal@none@1@S@In mid-August, the companies, through their jointly owned holding company, Temple Holdings Ltd., sweetened the offer to $63 a share, or $963 million.@@@@1@23@@oe@2-2-2013
20308009@unknown@formal@none@1@S@Officials for Temple declined to comment.@@@@1@6@@oe@2-2-2013
20308010@unknown@formal@none@1@S@News of the restructuring plan sent Sea Containers' shares up $1 to $62 in New York Stock Exchange composite trading.@@@@1@20@@oe@2-2-2013
20308011@unknown@formal@none@1@S@Walter Kirchberger, an analyst with PaineWebber Inc., said that offering holders a higher, $70-a-share price is "a fairly effective method of blocking" the Stena-Tiphook bid.@@@@1@25@@oe@2-2-2013
20308012@unknown@formal@none@1@S@Michael Carstens, an analyst with Tucker Anthony & R.L. Day, added that the sale of assets would allow Sea Containers to focus on its core container businesses.@@@@1@27@@oe@2-2-2013
20308013@unknown@formal@none@1@S@For holders who decide not to tender their shares, Sea Containers will issue one share of preferred stock with a stated value of $25, plus a cash dividend on the common stock.@@@@1@32@@oe@2-2-2013
20308014@unknown@formal@none@1@S@The company said its directors, management and subsidiaries will remain long-term investors and won't tender any of their shares under the offer.@@@@1@22@@oe@2-2-2013
20308015@unknown@formal@none@1@S@Sea Containers said the offer will proceed after the Bermuda Supreme Court lifts or modifies an interim injunction restraining the company from buying its shares.@@@@1@25@@oe@2-2-2013
20308016@unknown@formal@none@1@S@That injunction resulted from litigation between Temple and Sea Containers last May.@@@@1@12@@oe@2-2-2013
20308017@unknown@formal@none@1@S@The company said the court has indicated it will make a decision on or about Nov. 27.@@@@1@17@@oe@2-2-2013
20308018@unknown@formal@none@1@S@Sea Containers will soon set a date for its annual shareholder meeting to seek holder approval for the offer.@@@@1@19@@oe@2-2-2013
20309001@unknown@formal@none@1@S@You'd think all the stories about well-heeled communities and developers getting HUD grants would prompt Congress to tighten up on upscale housing subsidies.@@@@1@23@@oe@2-2-2013
20309002@unknown@formal@none@1@S@No way.@@@@1@2@@oe@2-2-2013
20309003@unknown@formal@none@1@S@Congress has just made it easier for the affluent to qualify for insured loans from the deficit-ridden Federal Housing Administration.@@@@1@20@@oe@2-2-2013
20309004@unknown@formal@none@1@S@It appears that the only thing Congress is learning from the HUD story is how to enlarge its control of the honey pot going to special interests.@@@@1@27@@oe@2-2-2013
20309005@unknown@formal@none@1@S@Right now, the largest loan the FHA can insure in high-cost housing markets is $101,250.@@@@1@15@@oe@2-2-2013
20309006@unknown@formal@none@1@S@Last week, housing lobbies persuaded Congress to raise the ceiling to $124,875, making FHA loans more accessible to the well-to-do.@@@@1@20@@oe@2-2-2013
20309007@unknown@formal@none@1@S@But it does that at the cost of deepening the taxpayer's exposure if the FHA is forced to pay for more loans going sour.@@@@1@24@@oe@2-2-2013
20309008@unknown@formal@none@1@S@This is no idle fearlast year the FHA lost $4.2 billion in loan defaults.@@@@1@14@@oe@2-2-2013
20309009@unknown@formal@none@1@S@But the higher mortgage ceiling is only the starter kit for what Senator Alan Cranston and Majority Leader George Mitchell have in mind for housing.@@@@1@25@@oe@2-2-2013
20309010@unknown@formal@none@1@S@The Senate Banking Committee will begin hearings next week on their proposal to expand existing federal housing programs.@@@@1@18@@oe@2-2-2013
20309011@unknown@formal@none@1@S@Other Senators want to lower the down payments required on FHA-insured loans.@@@@1@12@@oe@2-2-2013
20309012@unknown@formal@none@1@S@That would be a formula for ensuring even more FHA red ink.@@@@1@12@@oe@2-2-2013
20309013@unknown@formal@none@1@S@Experience has shown that the most important element in predicting a housing-loan default is the down payment.@@@@1@17@@oe@2-2-2013
20309014@unknown@formal@none@1@S@Because a purchaser can use an FHA loan to finance all points and closing costs, the FHA can wind up lending more than a house is worth.@@@@1@27@@oe@2-2-2013
20309015@unknown@formal@none@1@S@If housing prices continue to fall, many borrowers would be better off walking away from their homes and leaving taxpayers with the losses.@@@@1@23@@oe@2-2-2013
20309016@unknown@formal@none@1@S@Much the same thing happened with busted S&Ls, a problem Congress just "solved" with a $166 billion bailout.@@@@1@18@@oe@2-2-2013
20309017@unknown@formal@none@1@S@We hear that HUD Secretary Jack Kemp is toying with going along with some of the Cranston-Mitchell proposals.@@@@1@18@@oe@2-2-2013
20309018@unknown@formal@none@1@S@That sounds like a formula for ensuring that he gets dragged into the next HUD tar pit.@@@@1@17@@oe@2-2-2013
20309019@unknown@formal@none@1@S@A group of 27 Senators has written Mr. Kemp urging him to reject Cranston-Mitchell and focus on programs that empower the poor rather than create vast new government obligations.@@@@1@29@@oe@2-2-2013
20309020@unknown@formal@none@1@S@But even if he agrees, Mr. Kemp doesn't write the nation's housing law -- Congress does.@@@@1@16@@oe@2-2-2013
20309021@unknown@formal@none@1@S@And the majority of Members cynically view the current discrediting of HUD as mainly a chance to shove through their own slate of projects.@@@@1@24@@oe@2-2-2013
20309022@unknown@formal@none@1@S@Exhibit A is last week's House vote to fund 40 pet projects out of the same discretionary fund that is at the heart of the HUD scandal.@@@@1@27@@oe@2-2-2013
20309023@unknown@formal@none@1@S@None of the grants had been requested by HUD, judged competitively or were the subject of a single hearing.@@@@1@19@@oe@2-2-2013
20309024@unknown@formal@none@1@S@More and more observers now realize that the key to ending future HUD scandals lies in forcing Congress to clean up its own act.@@@@1@24@@oe@2-2-2013
20309025@unknown@formal@none@1@S@This week, a Baltimore Sun editorial said the Lantos subcommittee on HUD should forget about Sam Pierce's testimony for the moment and call some other witnesses: the various congressional sponsors of the 40 pork-barrel projects.@@@@1@35@@oe@2-2-2013
20309026@unknown@formal@none@1@S@The Sun concluded that Mr. Pierce is only part of the problem -- and a part that's gone.@@@@1@18@@oe@2-2-2013
20309027@unknown@formal@none@1@S@"If HUD is to be reformed," it concluded, Members of Congress will "have to start looking into, and doing something about, the practices of their colleagues."@@@@1@26@@oe@2-2-2013
20309028@unknown@formal@none@1@S@Of course, self-reform is about the last thing this Congress is interested in.@@@@1@13@@oe@2-2-2013
20309029@unknown@formal@none@1@S@Proponents of expanding FHA programs say they merely want to help home buyers who are frozen out of high-priced markets.@@@@1@20@@oe@2-2-2013
20309030@unknown@formal@none@1@S@But the FHA program is hemorrhaging bad loans.@@@@1@8@@oe@2-2-2013
20309031@unknown@formal@none@1@S@Jack Kemp has submitted a package of reforms, and they are surely headed for the Capitol Hill sausage-grinder.@@@@1@18@@oe@2-2-2013
20309032@unknown@formal@none@1@S@Like the S&L mess before it, this is a problem Congress should be solving, not ignoring.@@@@1@16@@oe@2-2-2013
20310001@unknown@formal@none@1@S@Gillette Co., Boston, said it is planning to restructure its South African subsidiary.@@@@1@13@@oe@2-2-2013
20310002@unknown@formal@none@1@S@Under the plan, Gillette South Africa will sell manufacturing facilities in Springs, South Africa, and its business in toiletries and plastic bags to Twins Pharmaceuticals Ltd., an affiliate of Anglo American Corp., a South African company.@@@@1@36@@oe@2-2-2013
20310003@unknown@formal@none@1@S@Terms were not disclosed.@@@@1@4@@oe@2-2-2013
20310004@unknown@formal@none@1@S@A final agreement has not been signed, and the moves will not have a material effect on the company, Gillette said.@@@@1@21@@oe@2-2-2013
20310005@unknown@formal@none@1@S@The company said it is part of a continuing world-wide restructuring in which it has downsized or sold operations in several countries.@@@@1@22@@oe@2-2-2013
20310006@unknown@formal@none@1@S@Gillette said its continued presence in South Africa "enables it to make meaningful contributions to South African society, to the lives of its employees and to the communities in which it operates."@@@@1@32@@oe@2-2-2013
20310007@unknown@formal@none@1@S@Gillette South Africa employs about 250 people.@@@@1@7@@oe@2-2-2013
20310008@unknown@formal@none@1@S@About 60% of the work force will continue with Gillette or transfer to Twins Pharmaceuticals, the company said.@@@@1@18@@oe@2-2-2013
20311001@unknown@formal@none@1@S@The Soviet legislature approved a 1990 budget yesterday that halves its huge deficit with cuts in defense spending and capital outlays while striving to improve supplies to frustrated consumers.@@@@1@29@@oe@2-2-2013
20311002@unknown@formal@none@1@S@The vote to approve was@@@@1@5@@oe@2-2-2013
20311003@unknown@formal@none@1@S@A proposal to raise prices of beer, tobacco and luxuries was rejected 338-44.@@@@1@13@@oe@2-2-2013
20311004@unknown@formal@none@1@S@Soviet President Mikhail S. Gorbachev told the legislators they had made a good start, but that the most difficult work was still ahead.@@@@1@23@@oe@2-2-2013
20311005@unknown@formal@none@1@S@The Tass news agency said the 1990 budget anticipates income of 429.9 billion rubles (US$693.4 billion) and expenditures of 489.9 billion rubles (US$790.2 billion).@@@@1@24@@oe@2-2-2013
20311006@unknown@formal@none@1@S@Those figures are almost exactly what the government proposed to legislators in September.@@@@1@13@@oe@2-2-2013
20311007@unknown@formal@none@1@S@If the government can stick with them, it will be able to halve this year's 120 billion ruble (US$193 billion) deficit.@@@@1@21@@oe@2-2-2013
20311008@unknown@formal@none@1@S@Officials proposed a cut in the defense budget this year to 70.9 billion rubles (US$114.3 billion) from 77.3 billion rubles (US$125 billion) as well as large cuts in outlays for new factories and equipment.@@@@1@34@@oe@2-2-2013
20311009@unknown@formal@none@1@S@Tass said the final budget and economic plan calls for a sharp increase in the production of consumer goods.@@@@1@19@@oe@2-2-2013
20312001@unknown@formal@none@1@S@Trial and Terror@@@@1@3@@oe@2-2-2013
20312002@unknown@formal@none@1@S@At times I sequester my mind When I must think with precision, Detached from all other thoughts While trying to reach a decision.@@@@1@23@@oe@2-2-2013
20312003@unknown@formal@none@1@S@But often nothing's resolved, To my frustration and fury: With pros and cons in limbo, I feel like a hung jury.@@@@1@21@@oe@2-2-2013
20312004@unknown@formal@none@1@S@-- Arnold J. Zarett.@@@@1@4@@oe@2-2-2013
20312005@unknown@formal@none@1@S@Daffynition@@@@1@1@@oe@2-2-2013
20312006@unknown@formal@none@1@S@Rodeo applause: broncs cheer.@@@@1@4@@oe@2-2-2013
20312007@unknown@formal@none@1@S@-- Marvin Alisky.@@@@1@3@@oe@2-2-2013
20313001@unknown@formal@none@1@S@Ocean Drilling & Exploration Co. will sell its contract-drilling business, and took a $50.9 million loss from discontinued operations in the third quarter because of the planned sale.@@@@1@28@@oe@2-2-2013
20313002@unknown@formal@none@1@S@The New Orleans oil and gas exploration and diving operations company added that it doesn't expect any further adverse financial impact from the restructuring.@@@@1@24@@oe@2-2-2013
20313003@unknown@formal@none@1@S@In the third quarter, the company, which is 61%-owned by Murphy Oil Corp. of Arkansas, had a net loss of $46.9 million, or 91 cents a share, compared with a restated loss of $9 million, or 18 cents a share, a year ago.@@@@1@43@@oe@2-2-2013
20313004@unknown@formal@none@1@S@The latest period had profit from continuing operations of $4 million.@@@@1@11@@oe@2-2-2013
20313005@unknown@formal@none@1@S@Revenue gained 13% to $77.3 million from $68.5 million.@@@@1@9@@oe@2-2-2013
20313006@unknown@formal@none@1@S@Ocean Drilling said it will offer 15% to 20% of the contract-drilling business through an initial public offering in the near future.@@@@1@22@@oe@2-2-2013
20313007@unknown@formal@none@1@S@It has long been rumored that Ocean Drilling would sell the unit to concentrate on its core oil and gas business.@@@@1@21@@oe@2-2-2013
20313008@unknown@formal@none@1@S@Ocean Drilling said it won't hold any shares of the new company after the restructuring.@@@@1@15@@oe@2-2-2013
20314001@unknown@formal@none@1@S@After 20 years of pushing labor proposals to overhaul the nation's health-care system, Bert Seidman of the AFL-CIO is finding interest from an unlikely quarter: big business.@@@@1@27@@oe@2-2-2013
20314002@unknown@formal@none@1@S@Corporate leaders, frustrated by double-digit increases in health-care costs, are beginning to sound like liberal Democrats.@@@@1@16@@oe@2-2-2013
20314003@unknown@formal@none@1@S@Failure to check rising medical costs ultimately could "lead some of us who today are free-market advocates to re-examine our thinking and positions with respect to government-sponsored national health insurance," Arthur Puccini, a General Electric Co. vice president, warned earlier this year.@@@@1@42@@oe@2-2-2013
20314004@unknown@formal@none@1@S@The pocketbook impact of health benefits has driven business and labor to a surprising consensus.@@@@1@15@@oe@2-2-2013
20314005@unknown@formal@none@1@S@Both the AFL-CIO and the National Association of Manufacturers are calling for measures to control rising costs, improve quality and provide care to the 31 million Americans who currently lack health insurance.@@@@1@32@@oe@2-2-2013
20314006@unknown@formal@none@1@S@Agreement on these points is a long way from a specific program, and nobody expects the U.S. to rush toward radical restructuring of the health-care system.@@@@1@26@@oe@2-2-2013
20314007@unknown@formal@none@1@S@But there are signs that labor-management cooperation could change the politics of health-care legislation and the economics of medicine.@@@@1@19@@oe@2-2-2013
20314008@unknown@formal@none@1@S@"I can't remember a time when virtually everyone can agree on what the problem is," says Mr. Seidman, who heads the AFL-CIO's department dealing with health matters.@@@@1@27@@oe@2-2-2013
20314009@unknown@formal@none@1@S@Because the Bush administration isn't taking the initiative on health issues, business executives are dealing with congressional Democrats who champion health-care revision.@@@@1@22@@oe@2-2-2013
20314010@unknown@formal@none@1@S@"Business across the country is spending more time addressing this issue," says Sen. Edward Kennedy (D., Mass.).@@@@1@17@@oe@2-2-2013
20314011@unknown@formal@none@1@S@"It's a bottom-line issue."@@@@1@4@@oe@2-2-2013
20314012@unknown@formal@none@1@S@Business complained earlier this year when Sen. Kennedy introduced a bill that would require employers to provide a minimum level of health insurance to workers but doesn't contain cost-control measures.@@@@1@30@@oe@2-2-2013
20314013@unknown@formal@none@1@S@Partly in response, a bipartisan group of senators from the finance and labor committees is drafting a plan to attract broader support.@@@@1@22@@oe@2-2-2013
20314014@unknown@formal@none@1@S@It will feature a cost-containment provision designed to keep expanded benefits from fueling higher care prices.@@@@1@16@@oe@2-2-2013
20314015@unknown@formal@none@1@S@At 11.1% of gross national product, U.S. health costs already are the highest in the world.@@@@1@16@@oe@2-2-2013
20314016@unknown@formal@none@1@S@By contrast, Japan's equal 6.7% of GNP, a nation's total output of goods and services.@@@@1@15@@oe@2-2-2013
20314017@unknown@formal@none@1@S@Management and labor worry that the gap makes U.S. companies less competitive.@@@@1@12@@oe@2-2-2013
20314018@unknown@formal@none@1@S@Chrysler Corp. estimates that health costs add $700 to the price of each of its cars, about $300 to $500 more per car than foreign competitors pay for health.@@@@1@29@@oe@2-2-2013
20314019@unknown@formal@none@1@S@"The cost of health care is eroding standards of living and sapping industrial strength," complains Walter Maher, a Chrysler health-and-benefits specialist.@@@@1@21@@oe@2-2-2013
20314020@unknown@formal@none@1@S@Labor is upset because many companies are using higher employee insurance premiums, deductibles and co-payments to deflect surging medical costs to workers.@@@@1@22@@oe@2-2-2013
20314021@unknown@formal@none@1@S@Health benefits are contentious issues in the strikes against Pittston Co. and Nynex Corp.@@@@1@14@@oe@2-2-2013
20314022@unknown@formal@none@1@S@In their new contract this year, American Telephone & Telegraph Co. and the Communications Workers of America agreed to look for "prompt and lasting national solutions" to rising health-care costs.@@@@1@30@@oe@2-2-2013
20314023@unknown@formal@none@1@S@Some analysts are cynical about the new corporate interest in health-care overhaul.@@@@1@12@@oe@2-2-2013
20314024@unknown@formal@none@1@S@Carl Schramm, president of the Health Insurance Association of America, scoffs at "capitalists who want to socialize the entire financing system" for health.@@@@1@23@@oe@2-2-2013
20314025@unknown@formal@none@1@S@"They hope they can buy some government cost discipline," but this is a false hope, Mr. Schramm says.@@@@1@18@@oe@2-2-2013
20314026@unknown@formal@none@1@S@He asserts that government has done an even worse job of controlling its health bill than business.@@@@1@17@@oe@2-2-2013
20314027@unknown@formal@none@1@S@So far neither the Bush administration nor Congress is prepared to lead the way toward revamping health care.@@@@1@18@@oe@2-2-2013
20314028@unknown@formal@none@1@S@The administration lacks a comprehensive health-care policy.@@@@1@7@@oe@2-2-2013
20314029@unknown@formal@none@1@S@Congress still is struggling to dismantle the unpopular Catastrophic Care Act of 1988, which boosted benefits for the elderly and taxed them to pay for the new coverage.@@@@1@28@@oe@2-2-2013
20314030@unknown@formal@none@1@S@A bipartisan commission established by Congress and headed by Sen. John Rockefeller (D., W.Va.) is scheduled to present new plans for dealing with the uninsured and long-term care for the elderly by next March 1.@@@@1@35@@oe@2-2-2013
20314031@unknown@formal@none@1@S@A quadrennial commission appointed by Health and Human Services Secretary Louis Sullivan is taking a broad look at the economics of Medicare for the elderly, Medicaid for the poor and the health system in general.@@@@1@35@@oe@2-2-2013
20314032@unknown@formal@none@1@S@It is expected to report next summer.@@@@1@7@@oe@2-2-2013
20314033@unknown@formal@none@1@S@"No magic bullet will be discovered next year, an election year," says Rep. Fortney Stark (D., Calif.)@@@@1@17@@oe@2-2-2013
20314034@unknown@formal@none@1@S@But 1991 could be a window for action.@@@@1@8@@oe@2-2-2013
20314035@unknown@formal@none@1@S@The pressure for change will rise with costs.@@@@1@8@@oe@2-2-2013
20314036@unknown@formal@none@1@S@"I think employers are really going to be the ones to push for major change," says Sharon Canner, a health expert at NAM.@@@@1@23@@oe@2-2-2013
20314037@unknown@formal@none@1@S@Any major attempt to revamp the health-care system is likely to trigger opposition from politically powerful interest groups, particularly the American Medical Association, and perhaps from the public as well, if Congress takes steps that patients fear will limit the availability of care.@@@@1@43@@oe@2-2-2013
20314038@unknown@formal@none@1@S@The NAM embraces efforts, which both the administration and the medical profession have begun, to measure the effectiveness of medical treatments and then to draft medical-practice guidelines.@@@@1@27@@oe@2-2-2013
20314039@unknown@formal@none@1@S@Advocates hope that such standards will improve treatment while limiting unnecessary tests and medical procedures.@@@@1@15@@oe@2-2-2013
20314040@unknown@formal@none@1@S@HHS Secretary Sullivan estimates that as much as 25% of the medical procedures performed each year may be inappropriate or unnecessary.@@@@1@21@@oe@2-2-2013
20314041@unknown@formal@none@1@S@Limiting care won't be easy or popular.@@@@1@7@@oe@2-2-2013
20314042@unknown@formal@none@1@S@"To slow the rise in total spending, it will be necessary to reduce per-capita use of services," the NAM warns in a policy statement.@@@@1@24@@oe@2-2-2013
20314043@unknown@formal@none@1@S@This will "require us to define -- and redefine -- what is `necessary' or `appropriate' care.@@@@1@16@@oe@2-2-2013
20314044@unknown@formal@none@1@S@This involves trade-offs and {it} cuts against the grain of existing consumer and even provider conceptions of what is `necessary.'"@@@@1@20@@oe@2-2-2013
20314045@unknown@formal@none@1@S@The AFL-CIO also embraces treatment guidelines.@@@@1@6@@oe@2-2-2013
20314046@unknown@formal@none@1@S@In addition, it's toying with an approach that would impose health-expenditure ceilings or budgets on the government as a whole and on individual states as a way to slow health-care spending.@@@@1@31@@oe@2-2-2013
20314047@unknown@formal@none@1@S@At a meeting here on Nov. 15, the labor federation plans to launch a major effort to build grass-roots support for health-care overhaul.@@@@1@23@@oe@2-2-2013
20315001@unknown@formal@none@1@S@Stelco Inc. said it plans to shut down three Toronto-area plants, moving their fastener operations to a leased facility in Brantford, Ontario.@@@@1@22@@oe@2-2-2013
20315002@unknown@formal@none@1@S@The company said the fastener business "has been under severe cost pressures for some time."@@@@1@15@@oe@2-2-2013
20315003@unknown@formal@none@1@S@The fasteners, nuts and bolts, are sold to the North American auto market.@@@@1@13@@oe@2-2-2013
20315004@unknown@formal@none@1@S@A company spokesman declined to estimate the impact of the closures on earnings.@@@@1@13@@oe@2-2-2013
20315005@unknown@formal@none@1@S@He said the new facility will employ 500 of the existing 600 employees.@@@@1@13@@oe@2-2-2013
20315006@unknown@formal@none@1@S@The steelmaker employs about 16,000 people.@@@@1@6@@oe@2-2-2013
20315007@unknown@formal@none@1@S@Stelco said it has an option to lease a 350,000-square-foot building in Brantford and proposes to spend 24.5 million Canadian dollars (US$20.9 million) on the facility.@@@@1@26@@oe@2-2-2013
20315008@unknown@formal@none@1@S@The three existing plants and their land will be sold.@@@@1@10@@oe@2-2-2013
20316001@unknown@formal@none@1@S@First Security Corp. said it tentatively agreed to acquire Deseret Bancorp. for stock valued at about $18 million.@@@@1@18@@oe@2-2-2013
20316002@unknown@formal@none@1@S@Terms call for First Security to issue about 0.55 share of its stock for each Deseret share held, or a total of about 550,000 First Security shares.@@@@1@27@@oe@2-2-2013
20316003@unknown@formal@none@1@S@It has about 12.3 million shares outstanding.@@@@1@7@@oe@2-2-2013
20316004@unknown@formal@none@1@S@Deseret, with about $100 million in assets, is the parent of the Deseret Bank, which has six offices and headquarters at Pleasant Grove, Utah.@@@@1@24@@oe@2-2-2013
20316005@unknown@formal@none@1@S@The purchase price is equal to about 1.65 times Deseret's roughly $10.7 million book value, or assets less liabilities.@@@@1@19@@oe@2-2-2013
20316006@unknown@formal@none@1@S@Salt Lake City-based First Security, with $5.4 billion in assets, said the agreement is subject to shareholder and regulatory approval, and that it hopes to complete the transaction early next year.@@@@1@31@@oe@2-2-2013
20317001@unknown@formal@none@1@S@Georgia-Pacific Corp.'s unsolicited $3.19 billion bid for Great Northern Nekoosa Corp. was hailed by Wall Street despite a cool reception by the target company.@@@@1@24@@oe@2-2-2013
20317002@unknown@formal@none@1@S@William R. Laidig, Nekoosa's chairman, chief executive officer and president, characterized the $58-a-share bid as "uninvited" and said Nekoosa's board would consider the offer "in due course."@@@@1@27@@oe@2-2-2013
20317003@unknown@formal@none@1@S@T. Marshall Hahn Jr., Georgia-Pacific's chairman and chief executive, said in an interview that all terms of the offer are negotiable.@@@@1@21@@oe@2-2-2013
20317004@unknown@formal@none@1@S@He added that he had spoken with Mr. Laidig, whom he referred to as a friend, by telephone Monday evening.@@@@1@20@@oe@2-2-2013
20317005@unknown@formal@none@1@S@"I'm hopeful that we'll have further discussions," Mr. Hahn said.@@@@1@10@@oe@2-2-2013
20317006@unknown@formal@none@1@S@On Wall Street, takeover stock traders bid Nekoosa's stock well above the Georgia-Pacific bid, assuming that Nekoosa's will either be sold to a rival bidder or to Georgia-Pacific at a higher price -- as much as $75 a share, according to some estimates.@@@@1@43@@oe@2-2-2013
20317007@unknown@formal@none@1@S@Yesterday, Nekoosa common closed in composite New York Stock Exchange trading at $62.875, up $20.125, on volume of almost 6.3 million shares.@@@@1@22@@oe@2-2-2013
20317008@unknown@formal@none@1@S@Georgia-Pacific closed down $2.50, at $50.875 in Big Board trading.@@@@1@10@@oe@2-2-2013
20317009@unknown@formal@none@1@S@Takeover stock traders noted that with the junk-bond market in disarray, Georgia-Pacific's bid is an indication of where the takeover game is headed: namely, industrial companies can continue bidding for one another, but financial buyers such as leveraged buy-out firms will be at a disadvantage in obtaining financing.@@@@1@48@@oe@2-2-2013
20317010@unknown@formal@none@1@S@"The way the world is shaping up, the strategic buyer is going to be the rule and the financial buyer is going to be the exception," said one trader.@@@@1@29@@oe@2-2-2013
20317011@unknown@formal@none@1@S@For the paper industry specifically, most analysts said the deal will spur a wave of paper-company takeovers, possibly involving such companies as Union Camp Corp., Federal Paperboard Co. and Mead Corp.@@@@1@31@@oe@2-2-2013
20317012@unknown@formal@none@1@S@The analysts argued that Georgia-Pacific's offer, the first hostile bid ever among major players in the paper industry, ends the unwritten taboo on hostile bids, and will push managements to look closely at the industry's several attractive takeover candidates.@@@@1@39@@oe@2-2-2013
20317013@unknown@formal@none@1@S@"Consolidation has been long overdue.@@@@1@5@@oe@2-2-2013
20317014@unknown@formal@none@1@S@It was just the culture of the industry that kept it from happening.@@@@1@13@@oe@2-2-2013
20317015@unknown@formal@none@1@S@The Georgia-Pacific offer has definitely changed the landscape," said Gary Palmero of Oppenheimer & Co.@@@@1@15@@oe@2-2-2013
20317016@unknown@formal@none@1@S@Added Mark Rogers of Prudential-Bache Securities Inc.: "It's much easier to be second."@@@@1@13@@oe@2-2-2013
20317017@unknown@formal@none@1@S@A Georgia-Pacific acquisition of Nekoosa would create the largest U.S. forest-products company.@@@@1@12@@oe@2-2-2013
20317018@unknown@formal@none@1@S@Based on 1988 sales, Georgia-Pacific ranked third at $9.51 billion, behind Weyerhaeuser Co. at $10 billion and International Paper Co. at $9.53 billion.@@@@1@23@@oe@2-2-2013
20317019@unknown@formal@none@1@S@Nekoosa ranked 11th with sales of $3.59 billion.@@@@1@8@@oe@2-2-2013
20317020@unknown@formal@none@1@S@The combined company would have had 1988 sales of $13.1 billion.@@@@1@11@@oe@2-2-2013
20317021@unknown@formal@none@1@S@But such a combination also presents great risks.@@@@1@8@@oe@2-2-2013
20317022@unknown@formal@none@1@S@At a time when most analysts and industry consultants say pulp and paper prices are heading for a dive, adding capacity and debt could squeeze Georgia-Pacific if the industry declines more than the company expects.@@@@1@35@@oe@2-2-2013
20317023@unknown@formal@none@1@S@Moreover, any unexpected strengthening of the dollar would hurt Georgia-Pacific because two of Nekoosa's major product lines -- containerboard, which is used to make shipping boxes, and market pulp -- are exported in large quantities.@@@@1@35@@oe@2-2-2013
20317024@unknown@formal@none@1@S@"Nobody knows how deep the cycle is going to be," said Rod Young, vice president of Resource Information Systems Inc., a Bedford, Mass., economic-forecasting firm.@@@@1@25@@oe@2-2-2013
20317025@unknown@formal@none@1@S@"Depending on how far down you go, it may be difficult to pay off that debt."@@@@1@16@@oe@2-2-2013
20317026@unknown@formal@none@1@S@One person familiar with Georgia-Pacific said the acquisition would more than double the company's debt of almost $3 billion.@@@@1@19@@oe@2-2-2013
20317027@unknown@formal@none@1@S@It also could be a drag on Georgia-Pacific earnings because the roughly $1.5 billion in goodwill -- the amount by which the bid exceeds Nekoosa's book value of $1.5 billion -- will have to be subtracted from earnings over a period of decades.@@@@1@43@@oe@2-2-2013
20317028@unknown@formal@none@1@S@Georgia-Pacific's Mr. Hahn said that a combined operation would allow savings in many ways.@@@@1@14@@oe@2-2-2013
20317029@unknown@formal@none@1@S@The two companies each produce market pulp, containerboard and white paper.@@@@1@11@@oe@2-2-2013
20317030@unknown@formal@none@1@S@That means goods could be manufactured closer to customers, saving shipping costs, he said.@@@@1@14@@oe@2-2-2013
20317031@unknown@formal@none@1@S@Moreover, production runs would be longer, cutting inefficiencies from adjusting machinery between production cycles.@@@@1@14@@oe@2-2-2013
20317032@unknown@formal@none@1@S@And Georgia-Pacific could save money in selling pulp, because the company uses its own sales organization while Nekoosa employs higher-cost agents.@@@@1@21@@oe@2-2-2013
20317033@unknown@formal@none@1@S@Mr. Hahn said Georgia-Pacific has accounted in its strategy for a "significant downturn" in the pulp and paper industry, an event that he said would temporarily dilute earnings.@@@@1@28@@oe@2-2-2013
20317034@unknown@formal@none@1@S@But he said that even under those conditions, the company still would realize a savings of tens of millions of dollars in the first year following a merger.@@@@1@28@@oe@2-2-2013
20317035@unknown@formal@none@1@S@"The fit is so good, we see this as a time of opportunity," he said.@@@@1@15@@oe@2-2-2013
20317036@unknown@formal@none@1@S@Georgia-Pacific, which has suspended its stock-repurchase program, would finance the acquisition with all bank debt, provided by banks led by BankAmerica Corp.@@@@1@22@@oe@2-2-2013
20317037@unknown@formal@none@1@S@Georgia-Pacific owns 349,900 Nekoosa shares and would need federal antitrust clearance to buy more than $15 million worth.@@@@1@18@@oe@2-2-2013
20317038@unknown@formal@none@1@S@U.S. clearance also is needed for the proposed acquisition.@@@@1@9@@oe@2-2-2013
20317039@unknown@formal@none@1@S@For Nekoosa, defense options may be undercut somewhat by the precarious state of the junk-bond market, which limits how much value the target could reach in a debt-financed recapitalization.@@@@1@29@@oe@2-2-2013
20317040@unknown@formal@none@1@S@The company's chairman, Mr. Laidig, and a group of advisers met at the offices of Wachtel Lipton Rosen & Katz, a law firm specializing in takeover defense.@@@@1@27@@oe@2-2-2013
20317041@unknown@formal@none@1@S@Nekoosa also is being advised by Goldman, Sachs & Co.@@@@1@10@@oe@2-2-2013
20317042@unknown@formal@none@1@S@Georgia-Pacific's advisers are Wasserstein, Perella & Co., which stands to receive a $15 million fee if the takeover succeeds, and the law firm of Shearman & Sterling.@@@@1@27@@oe@2-2-2013
20317043@unknown@formal@none@1@S@People familiar with Nekoosa said its board isn't likely to meet before the week after next to respond to the bid.@@@@1@21@@oe@2-2-2013
20317044@unknown@formal@none@1@S@The board has 10 business days to respond.@@@@1@8@@oe@2-2-2013
20317045@unknown@formal@none@1@S@In addition to the usual array of defenses, including a so-called poison pill and a staggered board, Nekoosa has another takeover defense: a Maine state law barring hostile bidders from merging acquired businesses for five years.@@@@1@36@@oe@2-2-2013
20317046@unknown@formal@none@1@S@Nekoosa is incorporated in Maine.@@@@1@5@@oe@2-2-2013
20317047@unknown@formal@none@1@S@Georgia-Pacific has filed a lawsuit in federal court in Maine challenging the poison pill and the Maine merger law.@@@@1@19@@oe@2-2-2013
20317048@unknown@formal@none@1@S@Nekoosa's poison pill allows shareholders to vote to rescind it, but Georgia-Pacific isn't likely to pursue such a course immediately because that would take 90 to 120 days, and wouldn't affect the provisions of the Maine law.@@@@1@37@@oe@2-2-2013
20317049@unknown@formal@none@1@S@Among companies mentioned by analysts as possible counterbidders for Nekoosa are International Paper, Weyerhaeuser, Canadian Pacific Ltd. and MacMillan Bloedel Ltd.@@@@1@21@@oe@2-2-2013
20317050@unknown@formal@none@1@S@"I'm sure everybody else is putting pencil to paper," said Kathryn McAuley, an analyst with First Manhattan Co.@@@@1@18@@oe@2-2-2013
20317051@unknown@formal@none@1@S@International Paper and Weyerhaeuser declined to comment.@@@@1@7@@oe@2-2-2013
20317052@unknown@formal@none@1@S@Canadian Pacific couldn't be reached for comment, and MacMillan Bloedel said it hasn't any plans to make a bid for Nekoosa.@@@@1@21@@oe@2-2-2013
20317053@unknown@formal@none@1@S@Investors were quick to spot other potential takeover candidates, all of which have strong cash flows and low-cost operations.@@@@1@19@@oe@2-2-2013
20317054@unknown@formal@none@1@S@Among paper company stocks that rallied on the Big Board because of the offer were Union Camp, up $2.75 to $37.75, Federal Paperboard, up $1.75 to $27.875, Mead, up $2.375 to $38.75, and Temple Inland Inc., up $3.75 to $62.25.@@@@1@40@@oe@2-2-2013
20317055@unknown@formal@none@1@S@In over-the-counter national trading, Bowater Inc. jumped $1.50 to $27.50.@@@@1@10@@oe@2-2-2013
20317056@unknown@formal@none@1@S@Some analysts argued that there won't be a flurry of takeovers because the industry's continuing capacity-expansion program is eating up available cash.@@@@1@22@@oe@2-2-2013
20317057@unknown@formal@none@1@S@Moreover, some analysts said they expect a foreign paper company with deeper pockets than Georgia-Pacific to end up acquiring Nekoosa, signaling to the rest of the industry that hostile bids are unproductive.@@@@1@32@@oe@2-2-2013
20317058@unknown@formal@none@1@S@"This is a one-time event," said Lawrence Ross of PaineWebber Inc., referring to the Georgia-Pacific bid.@@@@1@16@@oe@2-2-2013
20317059@unknown@formal@none@1@S@But many analysts believe that, given the attractiveness of paper companies' cash flows, as well as the frantic consolidation of the paper industry in Europe, there will be at least a few more big hostile bids for U.S. companies within the next several months.@@@@1@44@@oe@2-2-2013
20317060@unknown@formal@none@1@S@The buyers, these analysts added, could be either foreign or other U.S.concerns.@@@@1@12@@oe@2-2-2013
20317061@unknown@formal@none@1@S@"The Georgia-Pacific bid may open the door to a new era of consolidation" in the paper industry, said Mark Devario of Shearson Lehman Hutton Inc.@@@@1@25@@oe@2-2-2013
20317062@unknown@formal@none@1@S@"I don't think anyone is now immune from takeover," said Robert Schneider of Duff & Phelps Inc., Chicago.@@@@1@18@@oe@2-2-2013
20317063@unknown@formal@none@1@S@He added: "Every paper company management has to be saying to itself, `Before someone comes after me, I'm going to go after somebody.'"@@@@1@23@@oe@2-2-2013
20317064@unknown@formal@none@1@S@Prudential-Bache's Mr. Rodgers said he doesn't see the industry's capacity-expansion program hindering takeover activity.@@@@1@14@@oe@2-2-2013
20317065@unknown@formal@none@1@S@Several projects, he said, are still on the drawing board.@@@@1@10@@oe@2-2-2013
20317066@unknown@formal@none@1@S@Moreover, "it's a lot cheaper and quicker to buy a plant than to build one."@@@@1@15@@oe@2-2-2013
20317067@unknown@formal@none@1@S@Indeed, a number of analysts said that Japanese paper companies are hungry to acquire additional manufacturing capacity anywhere in the world.@@@@1@21@@oe@2-2-2013
20317068@unknown@formal@none@1@S@Some predicted that Nekoosa will end up being owned by a Japanese company.@@@@1@13@@oe@2-2-2013
20317069@unknown@formal@none@1@S@Meanwhile, Shearson Lehman's Mr. Devario said that, to stay competitive, the U.S. paper industry needs to catch up with the European industry.@@@@1@22@@oe@2-2-2013
20317070@unknown@formal@none@1@S@Since the most-recent wave of friendly takeovers was completed in the U.S. in 1986, there have been more than 100 mergers and acquisitions within the European paper industry, he said.@@@@1@30@@oe@2-2-2013
20318001@unknown@formal@none@1@S@Lyphomed Inc., Rosemont, Ill., and Medco Research Inc., Los Angeles, said the Food and Drug Administration granted full marketing approval for a new drug for the treatment of a condition in which the heart beats between 150 and 200 beats a minute.@@@@1@42@@oe@2-2-2013
20318002@unknown@formal@none@1@S@The condition, known as paroxysmal supraventricular tachycardia, leads to dizziness and fainting.@@@@1@12@@oe@2-2-2013
20318003@unknown@formal@none@1@S@The typical healthy heart beats 70 times a minute.@@@@1@9@@oe@2-2-2013
20318004@unknown@formal@none@1@S@The drug, called adenocard, returns the heart to a normal rhythm within seconds, according to Lyphomed.@@@@1@16@@oe@2-2-2013
20318005@unknown@formal@none@1@S@Medco Research developed the drug and licensed it to Lyphomed for sale in the U.S. and Canada.@@@@1@17@@oe@2-2-2013
20319001@unknown@formal@none@1@S@Private industry's labor costs rose 1.2% in the third quarter, matching the second-quarter pace, as health insurance costs continued to soar, the Labor Department said.@@@@1@25@@oe@2-2-2013
20319002@unknown@formal@none@1@S@The increase in wage and benefit costs in the third quarter was greater than the 1% rise reported for the third quarter of 1988.@@@@1@24@@oe@2-2-2013
20319003@unknown@formal@none@1@S@"Wage increases and overall compensation increases are beginning to curl upward a little bit," said Audrey Freedman, a labor economist at the Conference Board, a business research organization.@@@@1@28@@oe@2-2-2013
20319004@unknown@formal@none@1@S@"One would have thought this would have happened two or three years ago as the labor market tightened.@@@@1@18@@oe@2-2-2013
20319005@unknown@formal@none@1@S@It is a considerably delayed reaction and it's not a severe one at all," she added.@@@@1@16@@oe@2-2-2013
20319006@unknown@formal@none@1@S@The new data underscored the severity of the nation's health-care cost problem.@@@@1@12@@oe@2-2-2013
20319007@unknown@formal@none@1@S@In the 12 months ended in September, wages and salaries of private-sector workers rose 4.4%, while health insurance costs spurted by 13.7%.@@@@1@22@@oe@2-2-2013
20319008@unknown@formal@none@1@S@The consumer price index climbed 4.3% in the same period.@@@@1@10@@oe@2-2-2013
20319009@unknown@formal@none@1@S@Despite the big increases in health-care costs, wages still account for a far greater share of overall labor costs.@@@@1@19@@oe@2-2-2013
20319010@unknown@formal@none@1@S@The overall private-sector employment cost index, which includes both wages and benefits, rose 4.7% in the 12 months ended in September, compared with 4.5% for both the 12 months ended in June and the 12 months ended September 1988.@@@@1@39@@oe@2-2-2013
20319011@unknown@formal@none@1@S@Labor costs are climbing at a far more rapid pace in the health care industry than in other industries.@@@@1@19@@oe@2-2-2013
20319012@unknown@formal@none@1@S@For instance, wages of private-sector hospital workers leaped 6.6% in the 12 months ended in September, compared with 4.4% for workers in all industries.@@@@1@24@@oe@2-2-2013
20319013@unknown@formal@none@1@S@In the third quarter, wages and salaries in all private industry rose 1.2%, compared with 1% increases in both the second quarter and in the third quarter of 1988.@@@@1@29@@oe@2-2-2013
20319014@unknown@formal@none@1@S@For the past five years, unions haven't managed to win wage increases as large as those granted to nonunion workers.@@@@1@20@@oe@2-2-2013
20319015@unknown@formal@none@1@S@For private-sector union workers, the cost of wages and benefits rose 0.9% in the third quarter.@@@@1@16@@oe@2-2-2013
20319016@unknown@formal@none@1@S@For nonunion workers, the costs rose 1.4%.@@@@1@7@@oe@2-2-2013
20319017@unknown@formal@none@1@S@Labor costs continued to rise more rapidly in service industries than in goods-producing industries, the report showed.@@@@1@17@@oe@2-2-2013
20319018@unknown@formal@none@1@S@It also found them rising much more in the Northeast than elsewhere.@@@@1@12@@oe@2-2-2013
20319019@unknown@formal@none@1@S@Including employees of state and local -- but not the federal -- governments, the employment cost index rose 1.6% in the third quarter, compared with a 1.3% rise in the same quarter in 1988.@@@@1@34@@oe@2-2-2013
20319020@unknown@formal@none@1@S@The index rose 1.1% in the second quarter.@@@@1@8@@oe@2-2-2013
20319021@unknown@formal@none@1@S@For the 12 months ended in September, this index was up 5.1%.@@@@1@12@@oe@2-2-2013
20319022@unknown@formal@none@1@S@It rose 4.8% for the 12 months ended in June and 4.7% in the 12 months ended in September 1988.@@@@1@20@@oe@2-2-2013
20319023@unknown@formal@none@1@S@Unlike most economic indicators, none of these figures are adjusted for seasonal variations.@@@@1@13@@oe@2-2-2013
20320001@unknown@formal@none@1@S@DeSoto Inc. said it is dismissing 200 employees as part of a restructuring aimed at producing pretax savings of $10 million annually.@@@@1@22@@oe@2-2-2013
20320002@unknown@formal@none@1@S@Under the plan, DeSoto said it will sell certain assets and businesses that don't meet strategic and profitability objectives.@@@@1@19@@oe@2-2-2013
20320003@unknown@formal@none@1@S@The Des Plaines, Ill., chemical coatings concern, which has about 2,000 employees world-wide, said it plans to sell its domestic rigid container packaging and flexible adhesives businesses, and its Chicago Heights, Ill., resin plant.@@@@1@34@@oe@2-2-2013
20320004@unknown@formal@none@1@S@The company said it plans to use the sale proceeds to invest in business opportunities more closely identified with the company's "refocused direction.@@@@1@23@@oe@2-2-2013
20321001@unknown@formal@none@1@S@StatesWest Airlines, Phoenix, Ariz., said it withdrew its offer to acquire Mesa Airlines because the Farmington, N.M., carrier didn't respond to its offer by the close of business yesterday, a deadline StatesWest had set for a response.@@@@1@37@@oe@2-2-2013
20321002@unknown@formal@none@1@S@However, StatesWest isn't abandoning its pursuit of the much-larger Mesa.@@@@1@10@@oe@2-2-2013
20321003@unknown@formal@none@1@S@StatesWest, which has a 7.25% stake in Mesa, said it may purchase more Mesa stock or make a tender offer directly to Mesa shareholders.@@@@1@24@@oe@2-2-2013
20321004@unknown@formal@none@1@S@StatesWest had proposed acquiring Mesa for $7 a share and one share of a new series of StatesWest 6% convertible preferred stock it values at $3 a share.@@@@1@28@@oe@2-2-2013
20321005@unknown@formal@none@1@S@Earlier, Mesa had rejected a general proposal from StatesWest to combine the two carriers in some way.@@@@1@17@@oe@2-2-2013
20321006@unknown@formal@none@1@S@StatesWest serves 10 cities in California, Arizona and Nevada.@@@@1@9@@oe@2-2-2013
20321007@unknown@formal@none@1@S@Mesa flies to 42 cities in New Mexico, Arizona, Wyoming, Colorado and Texas.@@@@1@13@@oe@2-2-2013
20322001@unknown@formal@none@1@S@A shiny new takeover deal sparked a big rally in stock prices, which buoyed the dollar.@@@@1@16@@oe@2-2-2013
20322002@unknown@formal@none@1@S@Bond prices also edged higher.@@@@1@5@@oe@2-2-2013
20322003@unknown@formal@none@1@S@Georgia-Pacific's $3.18 billion bid for Great Northern Nekoosa helped drive the Dow Jones Industrial Average up 41.60 points, to 2645.08, in active trading.@@@@1@23@@oe@2-2-2013
20322004@unknown@formal@none@1@S@The dollar drew strength from the stock market's climb.@@@@1@9@@oe@2-2-2013
20322005@unknown@formal@none@1@S@Long-term bond prices rose despite trepidation about what a key economic report will show today.@@@@1@15@@oe@2-2-2013
20322006@unknown@formal@none@1@S@Analysts said the offer for Great Northern Nekoosa broke the pall that settled over the takeover business for the past three weeks in the wake of the collapsed UAL Corp. buy-out.@@@@1@31@@oe@2-2-2013
20322007@unknown@formal@none@1@S@Great Northern Nekoosa soared $20.125 a share, to $62.875, substantially above the $58 a share Georgia-Pacific is offering.@@@@1@18@@oe@2-2-2013
20322008@unknown@formal@none@1@S@That indicates speculators are betting a higher offer is in the wings.@@@@1@12@@oe@2-2-2013
20322009@unknown@formal@none@1@S@Prices of other paper makers rose sharply, although Georgia-Pacific fell $2.50 a share, to $50.875.@@@@1@15@@oe@2-2-2013
20322010@unknown@formal@none@1@S@Despite all the furor over program trading, program trading played a big role in yesterday's rally.@@@@1@16@@oe@2-2-2013
20322011@unknown@formal@none@1@S@Some traders point out that as the big brokerage firms back out of program trading for their own accounts or for clients, opportunities increase for others to engage in the controversial practice.@@@@1@32@@oe@2-2-2013
20322012@unknown@formal@none@1@S@That's what happened yesterday.@@@@1@4@@oe@2-2-2013
20322013@unknown@formal@none@1@S@The rally notwithstanding, there are plenty of worries about the short-term course of stock prices.@@@@1@15@@oe@2-2-2013
20322014@unknown@formal@none@1@S@A slowing economy and its effect on corporate earnings is the foremost concern of many traders and analysts.@@@@1@18@@oe@2-2-2013
20322015@unknown@formal@none@1@S@Unless the Federal Reserve eases interest rates soon to stimulate the economy, profits could remain disappointing.@@@@1@16@@oe@2-2-2013
20322016@unknown@formal@none@1@S@Yesterday's major economic news -- a 0.2% rise in the September index of leading economic indicators -- had little impact on financial markets.@@@@1@23@@oe@2-2-2013
20322017@unknown@formal@none@1@S@But the next important piece of news on the economy's health -- this morning's release of the national purchasing manager's survey for October -- could prompt investors into action.@@@@1@29@@oe@2-2-2013
20322018@unknown@formal@none@1@S@A report late yesterday that the Chicago-area purchasing managers survey showed increased economic activity in that part of the country cut into bond-price gains.@@@@1@24@@oe@2-2-2013
20322019@unknown@formal@none@1@S@If the national survey confirms a pickup in the manufacturing sector, it could further depress bond prices while bolstering stock prices and the dollar.@@@@1@24@@oe@2-2-2013
20322020@unknown@formal@none@1@S@Meanwhile, bond investors are laboring under the onus of a national debt ceiling debate.@@@@1@14@@oe@2-2-2013
20322021@unknown@formal@none@1@S@Although the Treasury is expected to announce details of its November quarterly refunding operation today, the Nov. 79 schedule could be delayed unless Congress and the president act soon to lift the nation's debt ceiling.@@@@1@35@@oe@2-2-2013
20322022@unknown@formal@none@1@S@In major market activity:@@@@1@4@@oe@2-2-2013
20322023@unknown@formal@none@1@S@Stock prices rallied in active trading.@@@@1@6@@oe@2-2-2013
20322024@unknown@formal@none@1@S@Volume on the New York Stock Exchange totaled 176.1 million shares.@@@@1@11@@oe@2-2-2013
20322025@unknown@formal@none@1@S@Advancing issues on the Big Board surged ahead of decliners 1,111 to@@@@1@12@@oe@2-2-2013
20322026@unknown@formal@none@1@S@Bond prices rose.@@@@1@3@@oe@2-2-2013
20322027@unknown@formal@none@1@S@The Treasury's benchmark 30-year bond gained less than a quarter of a point, or less than $2.50 for each $1,000 of face amount.@@@@1@23@@oe@2-2-2013
20322028@unknown@formal@none@1@S@The yield on the issue slipped to 7.91%.@@@@1@8@@oe@2-2-2013
20322029@unknown@formal@none@1@S@The dollar gained against most foreign currencies.@@@@1@7@@oe@2-2-2013
20322030@unknown@formal@none@1@S@In late afternoon New York trading, the dollar was at 1.8415 marks and 142.85 yen compared with 1.8340 marks and 141.90 yen late Monday.@@@@1@24@@oe@2-2-2013
20323001@unknown@formal@none@1@S@Bouygues S.A., a diversified construction concern based in Paris, said its consolidated profit for the 1989 first half, after payments to minority interests, surged to 188 million French francs ($30.2 million) from 65 million francs a year earlier.@@@@1@38@@oe@2-2-2013
20323002@unknown@formal@none@1@S@Revenue rose 21% to 22.61 billion francs from 18.69 billion francs.@@@@1@11@@oe@2-2-2013
20323003@unknown@formal@none@1@S@The company didn't specify reasons for the strong earnings gain.@@@@1@10@@oe@2-2-2013
20323004@unknown@formal@none@1@S@But Bouygues said its first-half profit isn't indicative of the full-year trend because of the highly seasonal nature of many of the company's activities.@@@@1@24@@oe@2-2-2013
20323005@unknown@formal@none@1@S@For all of 1988, Bouygues had consolidated profit of 519 million francs, after payments to minority interests, on revenue of 50 billion francs.@@@@1@23@@oe@2-2-2013
20323006@unknown@formal@none@1@S@The group has forecast 1989 revenue of 56.9 billion francs.@@@@1@10@@oe@2-2-2013
20324001@unknown@formal@none@1@S@QVC Network Inc. said it completed its acquisition of CVN Cos. for about $423 million.@@@@1@15@@oe@2-2-2013
20324002@unknown@formal@none@1@S@QVC agreed to pay $19 and one-eighth QVC share for each of CVN's 20 million fully diluted shares.@@@@1@18@@oe@2-2-2013
20324003@unknown@formal@none@1@S@The acquisition brings together the two largest competitors to Home Shopping Network Inc., which now reaches more viewers than any other company in the video shopping industry.@@@@1@27@@oe@2-2-2013
20324004@unknown@formal@none@1@S@Among them, Home Shopping, QVC and CVN already control most of that young and fast-growing market, which last year had sales of about $1.4 billion.@@@@1@25@@oe@2-2-2013
20325001@unknown@formal@none@1@S@Coast Savings Financial Inc. reported a third-quarter loss, citing a previously announced capital restructuring program.@@@@1@15@@oe@2-2-2013
20325002@unknown@formal@none@1@S@The Los Angeles thrift holding company said it had a loss of $92.2 million, or $6.98 a share, for the quarter ended Sept. 30.@@@@1@24@@oe@2-2-2013
20325003@unknown@formal@none@1@S@Coast earned $10.2 million, or 67 cents a share, in the year-ago quarter.@@@@1@13@@oe@2-2-2013
20325004@unknown@formal@none@1@S@The year-ago results have been restated to comply with government regulations.@@@@1@11@@oe@2-2-2013
20325005@unknown@formal@none@1@S@The restructuring program is designed to increase the company's tangible capital ratio.@@@@1@12@@oe@2-2-2013
20325006@unknown@formal@none@1@S@It includes removing $242 million in good will from the books, issuing $150 million in preferred stock and commencing an exchange offer for $52 million in convertible bonds.@@@@1@28@@oe@2-2-2013
20325007@unknown@formal@none@1@S@During the third quarter, the company charged about $46 million against earnings in reducing goodwill, added $20 million to its general loan loss reserves and established a $30 million reserve for its high-yield bond portfolio.@@@@1@35@@oe@2-2-2013
20325008@unknown@formal@none@1@S@The company said its junk-bond portfolio after these moves had been reduced to less than 1% of assets.@@@@1@18@@oe@2-2-2013
20326001@unknown@formal@none@1@S@Philip Morris Cos. is launching a massive corporate advertising campaign that will put the tobacco giant's name in TV commercials for the first time since the early 1950s, when it stopped advertising its namesake cigarette brand on television.@@@@1@38@@oe@2-2-2013
20326002@unknown@formal@none@1@S@The campaign, a patriotic celebration of the 200th anniversary of the Bill of Rights, doesn't mention cigarettes or smoking; cigarette ads have been prohibited on television since 1971.@@@@1@28@@oe@2-2-2013
20326003@unknown@formal@none@1@S@But even before it begins, the campaign is drawing fire from anti-smoking advocates, who criticize Philip Morris's attempt to bolster its beleaguered image by wrapping itself in the document that is a cornerstone of American democracy.@@@@1@36@@oe@2-2-2013
20326004@unknown@formal@none@1@S@Philip Morris, which became the U.S.'s largest food company last year with its $12.9 billion acquisition of Kraft Inc., seems determined to evolve beyond its roots in Marlboro country.@@@@1@29@@oe@2-2-2013
20326005@unknown@formal@none@1@S@The company's research suggests that its name recognition among most consumers remains unusually low, although its array of brands -- including Maxwell House coffee, Jell-O, Cheez Whiz, and Miller beer -- blanket supermarket shelves.@@@@1@34@@oe@2-2-2013
20326006@unknown@formal@none@1@S@The company is expected to spend about $30 million a year on its two-year corporate campaign, created by WPP Group's Ogilvy & Mather unit in New York.@@@@1@27@@oe@2-2-2013
20326007@unknown@formal@none@1@S@The initial spots will appear during morning and prime-time news shows.@@@@1@11@@oe@2-2-2013
20326008@unknown@formal@none@1@S@Philip Morris hopes that by taking its Bill of Rights theme to the airwaves, in addition to publications, it will reach the broadest possible audience.@@@@1@25@@oe@2-2-2013
20326009@unknown@formal@none@1@S@Until now, its corporate ads, mainly promoting its sponsorship of the arts, have appeared almost exclusively in newspapers and magazines.@@@@1@20@@oe@2-2-2013
20326010@unknown@formal@none@1@S@"Most people -- whether in Toledo, Tucson or Topeka -- haven't got a clue who we are," says Guy L. Smith, Philip Morris's vice president of corporate affairs.@@@@1@28@@oe@2-2-2013
20326011@unknown@formal@none@1@S@"If they think well of the company through our support of the Bill of Rights, it follows they'll think well of our products."@@@@1@23@@oe@2-2-2013
20326012@unknown@formal@none@1@S@Mr. Smith says the Bill of Rights commercial, which trumpets the themes of liberty and freedom of expression, isn't designed to have any special appeal for smokers.@@@@1@27@@oe@2-2-2013
20326013@unknown@formal@none@1@S@Although Philip Morris typically tries to defend the rights of smokers with free-choice arguments, "this has nothing to do with cigarettes, nor will it ever," the spokesman says.@@@@1@28@@oe@2-2-2013
20326014@unknown@formal@none@1@S@But some anti-smoking activists disagree, expressing anger at what they see as the company's attempt to purchase innocence by association.@@@@1@20@@oe@2-2-2013
20326015@unknown@formal@none@1@S@"I'm outraged because this company is portraying itself at the heart of American culture and political freedom and in fact it's a killer," says Michael Pertschuk, former chairman of the Federal Trade Commission and a tobacco-industry critic.@@@@1@37@@oe@2-2-2013
20326016@unknown@formal@none@1@S@"It should be treated like the Medellin {drug} mafia, not the Founding Fathers."@@@@1@13@@oe@2-2-2013
20326017@unknown@formal@none@1@S@Mr. Pertschuk adds that the new commercial dovetails perfectly with major aspects of Philip Morris's political strategy.@@@@1@17@@oe@2-2-2013
20326018@unknown@formal@none@1@S@These include trying to protect its print advertising by invoking the First Amendment, and wooing blacks by portraying itself as a protector of civil rights.@@@@1@25@@oe@2-2-2013
20326019@unknown@formal@none@1@S@(The commercial features, among others, the voice of Martin Luther King Jr., the slain civil rights leader.)@@@@1@17@@oe@2-2-2013
20326020@unknown@formal@none@1@S@Many marketers say Philip Morris's approach will be effective, but they agree that the ads' implied smoking message is unmistakable.@@@@1@20@@oe@2-2-2013
20326021@unknown@formal@none@1@S@"This is clever, subliminal advertising that really says, `Smokers have rights, too,'" says Al Ries, chairman of Trout & Ries Inc., a Greenwich, Conn., marketing strategy firm.@@@@1@27@@oe@2-2-2013
20326022@unknown@formal@none@1@S@"This is designed to get the wagons in a circle and defend the smoking franchise."@@@@1@15@@oe@2-2-2013
20326023@unknown@formal@none@1@S@Richard Winger, a partner at Boston Consulting Group, adds: "It's very popular to drape yourself in the flag these days.@@@@1@20@@oe@2-2-2013
20326024@unknown@formal@none@1@S@If you can do that and at the same time send a message that supports your business, that's brilliant."@@@@1@19@@oe@2-2-2013
20326025@unknown@formal@none@1@S@RJR Nabisco Inc. and American Brands Inc. say they have no plans to follow Philip Morris's lead.@@@@1@17@@oe@2-2-2013
20326026@unknown@formal@none@1@S@(Indeed, RJR Nabisco is currently under fire for having sent 80-second videotapes touting its Now brand to consumers who smoke American Brands' Carltons.)@@@@1@23@@oe@2-2-2013
20326027@unknown@formal@none@1@S@Despite the criticism, Philip Morris's corporate campaign runs little risk of getting yanked off the tube.@@@@1@16@@oe@2-2-2013
20326028@unknown@formal@none@1@S@"They aren't showing James Madison taking a puff or lighting up," says Laurence Tribe, a professor of constitutional law at Harvard University.@@@@1@22@@oe@2-2-2013
20326029@unknown@formal@none@1@S@"All they are trying to do is borrow some of the legitimacy of the Bill of Rights itself.@@@@1@18@@oe@2-2-2013
20327001@unknown@formal@none@1@S@Technology stocks woke up, helping the over-the-counter market rise from its recent doldrums.@@@@1@13@@oe@2-2-2013
20327002@unknown@formal@none@1@S@The Nasdaq Composite Index surged 4.26, or about 0.94%, to 455.63.@@@@1@11@@oe@2-2-2013
20327003@unknown@formal@none@1@S@It was the market's biggest gain since rising more than 7 points on Oct. 19.@@@@1@15@@oe@2-2-2013
20327004@unknown@formal@none@1@S@Advancing OTC stocks outpaced decliners by 1,120 to 806.@@@@1@9@@oe@2-2-2013
20327005@unknown@formal@none@1@S@But the move lagged a stronger rise in New York Stock Exchange issues.@@@@1@13@@oe@2-2-2013
20327006@unknown@formal@none@1@S@The Big Board's composite index was up more than 1.4%, and the Dow Jones Industrial Average jumped 1.6%.@@@@1@18@@oe@2-2-2013
20327007@unknown@formal@none@1@S@Nasdaq's gain was led by its biggest industrial stocks.@@@@1@9@@oe@2-2-2013
20327008@unknown@formal@none@1@S@The Nasdaq 100 rose 7.08 to 445.23.@@@@1@7@@oe@2-2-2013
20327009@unknown@formal@none@1@S@The Financial Index of 100 biggest banks and insurance issues added 2.19 to 447.76.@@@@1@14@@oe@2-2-2013
20327010@unknown@formal@none@1@S@Other strong sectors were indicated in gains of the Transportation Index, up 7.55 to 475.35, and the Utility Index, up 8.68 to 730.37.@@@@1@23@@oe@2-2-2013
20327011@unknown@formal@none@1@S@National Market System volume improved to 94,425,000 shares from 71.7 million Monday.@@@@1@12@@oe@2-2-2013
20327012@unknown@formal@none@1@S@Many of Nasdaq's biggest technology stocks were in the forefront of the rally.@@@@1@13@@oe@2-2-2013
20327013@unknown@formal@none@1@S@Microsoft added 2 1/8 to 81 3/4 and Oracle Systems rose 1 1/2 to 23 1/4.@@@@1@16@@oe@2-2-2013
20327014@unknown@formal@none@1@S@Intel was up 1 3/8 to 33 3/4.@@@@1@8@@oe@2-2-2013
20327015@unknown@formal@none@1@S@But traders who watch the stocks warned the rise may be yet another "one-day phenomenon."@@@@1@15@@oe@2-2-2013
20327016@unknown@formal@none@1@S@Technology stocks bore the brunt of the OTC market's recent sell-off, and traders say it's natural that they rebound sharply now that the market has turned around.@@@@1@27@@oe@2-2-2013
20327017@unknown@formal@none@1@S@But, they caution, conservative investors would do well to sell into the strength.@@@@1@13@@oe@2-2-2013
20327018@unknown@formal@none@1@S@"They are always the first to be sold when people are taking profits, because people are most scared of the high-technology stocks," said Robin West, director of research for Ladenburg Thalmann's Lanyi division, which specializes in emerging growth stocks.@@@@1@39@@oe@2-2-2013
20327019@unknown@formal@none@1@S@The technology group includes many of the OTC market's biggest stocks, which dominate the market-weighted Nasdaq Composite Index.@@@@1@18@@oe@2-2-2013
20327020@unknown@formal@none@1@S@Analysts say rallies in the group historically have lifted the market, while weakness in the sector often sank unlisted share prices broadly.@@@@1@22@@oe@2-2-2013
20327021@unknown@formal@none@1@S@But increasing volatility in the sector has exhausted investors who try to follow its dips and swings.@@@@1@17@@oe@2-2-2013
20327022@unknown@formal@none@1@S@The stocks have been pummeled repeatedly by inventory gluts and disappointing earnings as the industry matures and slows.@@@@1@18@@oe@2-2-2013
20327023@unknown@formal@none@1@S@Some even claim the group has become a lagging, not leading, indicator.@@@@1@12@@oe@2-2-2013
20327024@unknown@formal@none@1@S@The technology sector of the Dow Jones Equity Market Index has risen only about 6.24% this year, while the Nasdaq Composite Index has gained 18.35%.@@@@1@25@@oe@2-2-2013
20327025@unknown@formal@none@1@S@While the composite index lost less than a third of its year-to-date gains in the market's recent decline, the technology group's gains were more than halved.@@@@1@26@@oe@2-2-2013
20327026@unknown@formal@none@1@S@The OTC technology sector is far from a cohesive unit.@@@@1@10@@oe@2-2-2013
20327027@unknown@formal@none@1@S@The group is divided primarily between software, semiconductors and computers.@@@@1@10@@oe@2-2-2013
20327028@unknown@formal@none@1@S@While computer stocks have taken the biggest hit from the slowdown in the industry, many software and semiconductor stocks have continued to outperform the market.@@@@1@25@@oe@2-2-2013
20327029@unknown@formal@none@1@S@Microsoft is up more than 50% this year, while Intel is up more than 40%.@@@@1@15@@oe@2-2-2013
20327030@unknown@formal@none@1@S@The technology group is also split between large companies and small, with the biggest stocks trading as blue-chip issues in the institutional marketplace, while the smaller stocks churn on their individual merits or faults, analysts say.@@@@1@36@@oe@2-2-2013
20327031@unknown@formal@none@1@S@The volatility of smaller technology companies has served the group well overall in recent stock trading, according to Hambrecht & Quist's technology stock indexes.@@@@1@24@@oe@2-2-2013
20327032@unknown@formal@none@1@S@The brokerage firm tracks technology stocks with its Technology Index, which appreciated only 10.59% in the first nine months of this year.@@@@1@22@@oe@2-2-2013
20327033@unknown@formal@none@1@S@But the firm also tracks smaller technology companies as a subset of the larger group.@@@@1@15@@oe@2-2-2013
20327034@unknown@formal@none@1@S@That index, which contains technology companies with annual revenues of $200 million or less, gained 17.97% by Sept. 30 this year -- still lagging the S&P 500, but leading larger technology firms.@@@@1@32@@oe@2-2-2013
20327035@unknown@formal@none@1@S@Yesterday, bank stocks lagged behind the overall OTC market.@@@@1@9@@oe@2-2-2013
20327036@unknown@formal@none@1@S@The Nasdaq Bank Index rose 0.17 to 432.78.@@@@1@8@@oe@2-2-2013
20327037@unknown@formal@none@1@S@George Jennison, who trades bank stocks for Shearson Lehman Hutton, said the stocks tend to fall behind because they aren't traded as much as many other issues.@@@@1@27@@oe@2-2-2013
20327038@unknown@formal@none@1@S@But, he added, interest-rate-sensitive stocks in general are stalled.@@@@1@9@@oe@2-2-2013
20327039@unknown@formal@none@1@S@"The interest-rate sensitives aren't rallying with the rest of the market because of fears about what the (Federal Reserve) will do," Mr. Jennison said.@@@@1@24@@oe@2-2-2013
20327040@unknown@formal@none@1@S@He said that investors will scour the October employment report, due out Friday, for clues about the direction of the economy and the immediate outlook for interest rates.@@@@1@28@@oe@2-2-2013
20327041@unknown@formal@none@1@S@On the other hand, Mr. Jennison noted that the recent slide in bank and thrift stocks was at least halted yesterday.@@@@1@21@@oe@2-2-2013
20327042@unknown@formal@none@1@S@Shearson Lehman Hutton gave small investors some welcome news by announcing that it would no longer handle index-arbitrage-related program trades for its accounts.@@@@1@23@@oe@2-2-2013
20327043@unknown@formal@none@1@S@Shearson, with its in-house order execution system, has handled the bulk of such program trades in the over-the-counter market.@@@@1@19@@oe@2-2-2013
20327044@unknown@formal@none@1@S@The trading has been blamed for much of the market's recent volatility.@@@@1@12@@oe@2-2-2013
20327045@unknown@formal@none@1@S@Jaguar topped the most-active list, as its American depository receipts climbed 1 3/4 to 13 5/8 with more than 6.6 million ADRs traded.@@@@1@23@@oe@2-2-2013
20327046@unknown@formal@none@1@S@Britain said it would waive its "golden share" in the luxury auto maker if shareholders vote to allow a suitor to acquire more than 15% of the company.@@@@1@28@@oe@2-2-2013
20327047@unknown@formal@none@1@S@The announcement effectively removes the British government as an impediment to a takeover of the company, which is being stalked by General Motors and Ford.@@@@1@25@@oe@2-2-2013
20327048@unknown@formal@none@1@S@Gen-Probe was another active takeover stock.@@@@1@6@@oe@2-2-2013
20327049@unknown@formal@none@1@S@It surged 2 3/4 to 6 on volume of more than 1.7 million shares after the company agreed to be acquired by Japan's Chugai Pharmaceutical for about $110 million -- almost double the market price of Gen-Probe's stock.@@@@1@38@@oe@2-2-2013
20327050@unknown@formal@none@1@S@Priam Corp. lost 5/32 to 3/32 after filing for protection from its creditors under Chapter 11 of the federal Bankruptcy Code.@@@@1@21@@oe@2-2-2013
20327051@unknown@formal@none@1@S@MCI Communications added 1 1/2 to 43 3/8.@@@@1@8@@oe@2-2-2013
20327052@unknown@formal@none@1@S@The company has toted up over $40 million in contracts in the past two days.@@@@1@15@@oe@2-2-2013
20327053@unknown@formal@none@1@S@Monday, MCI announced a $27 million multiyear contract with the investment bank Stuart-James.@@@@1@13@@oe@2-2-2013
20327054@unknown@formal@none@1@S@Yesterday, it received a $15 million, three-year contract from Drexel Burnham Lambert.@@@@1@12@@oe@2-2-2013
20327055@unknown@formal@none@1@S@Florida National Banks of Fla. slid 1 1/8 to 24 3/4.@@@@1@11@@oe@2-2-2013
20327056@unknown@formal@none@1@S@Late Monday, the Federal Reserve Board said it is delaying approval of First Union Corp.'s proposed $849 million acquisition of Florida National Banks pending the outcome of an examination into First Union's lending practices in low-income heighborhoods.@@@@1@37@@oe@2-2-2013
20327057@unknown@formal@none@1@S@Florida National said yesterday that it remains committed to the merger.@@@@1@11@@oe@2-2-2013
20327058@unknown@formal@none@1@S@Dycom Industries gained 3/4 to 16 3/4 after it said it agreed to buy Ansco & Associates and two affiliates for cash and stock.@@@@1@24@@oe@2-2-2013
20327059@unknown@formal@none@1@S@The value of the transaction wasn't disclosed.@@@@1@7@@oe@2-2-2013
20327060@unknown@formal@none@1@S@The companies being acquired provide telecommunications services to the telephone industry.@@@@1@11@@oe@2-2-2013
20327061@unknown@formal@none@1@S@Willamette Industries, whose stock has suffered steep losses in recent sessions, surged 1 1/2 to 49.@@@@1@16@@oe@2-2-2013
20327062@unknown@formal@none@1@S@The stock was one of many in the paper products industry that rose following Georgia-Pacific's $3.18 billion bid for Great Northern Nekoosa.@@@@1@22@@oe@2-2-2013
20328001@unknown@formal@none@1@S@A permanent smoking ban on virtually all domestic airline routes won approval from the House, which separately sent to President Bush a nearly $67 billion fiscal 1990 bill including the first construction funds for the space station.@@@@1@37@@oe@2-2-2013
20328002@unknown@formal@none@1@S@The smoking prohibition remains attached to a $27.1 billion transportation bill that must still overcome budget obstacles in Congress.@@@@1@19@@oe@2-2-2013
20328003@unknown@formal@none@1@S@But yesterday's action put to rest any lingering resistance from tobacco interests.@@@@1@12@@oe@2-2-2013
20328004@unknown@formal@none@1@S@Faced with inevitable defeat, the once dominant industry declined any recorded vote on the ban, which covers all but a fraction of 1% of daily flights in the U.S.@@@@1@29@@oe@2-2-2013
20328005@unknown@formal@none@1@S@The sole exceptions are an estimated 30 flights of six hours or more beginning or ending in Hawaii and Alaska.@@@@1@20@@oe@2-2-2013
20328006@unknown@formal@none@1@S@Assuming final enactment this month, the prohibition will take effect 96 days later, or in early February.@@@@1@17@@oe@2-2-2013
20328007@unknown@formal@none@1@S@On a 394-21 roll call, the House adopted the underlying transportation measure.@@@@1@12@@oe@2-2-2013
20328008@unknown@formal@none@1@S@But the bill still faces budget questions because it also is the vehicle for an estimated $3.1 billion in supplemental appropriations for law enforcement and anti-drug programs.@@@@1@27@@oe@2-2-2013
20328009@unknown@formal@none@1@S@The additional spending pushes the measure more than $2 billion above its prescribed budget ceiling, and the House Appropriations Committee leadership must now seek a waiver in hopes of completing action today.@@@@1@32@@oe@2-2-2013
20328010@unknown@formal@none@1@S@The separate $67 billion bill sent to the White House had budget difficulties, too, but was saved ultimately by its importance to a broad spectrum of interests in Congress and the administration itself.@@@@1@33@@oe@2-2-2013
20328011@unknown@formal@none@1@S@No single bill this year includes more discretionary spending for domestic programs and, apart from the space station, the measure incorporates far-reaching provisions affecting the federal mortgage market.@@@@1@28@@oe@2-2-2013
20328012@unknown@formal@none@1@S@The current ceiling on home loans insured by the Federal Housing Administration is increased to $124,875 during fiscal 1990.@@@@1@19@@oe@2-2-2013
20328013@unknown@formal@none@1@S@And in anticipation of increased lending, the cap on FHA loan guarantees would rise to approximately $73.8 billion.@@@@1@18@@oe@2-2-2013
20328014@unknown@formal@none@1@S@Separately, the bill gives authority to the Department of Housing and Urban Development to facilitate the refinancing of high-interest loans subsidized by the government under the so-called Section 235 home-ownership program for lower-income families.@@@@1@34@@oe@2-2-2013
20328015@unknown@formal@none@1@S@This provision met early and strong resistance from investment bankers worried about disruptions in their clients' portfolios.@@@@1@17@@oe@2-2-2013
20328016@unknown@formal@none@1@S@But the promise of at least $15 million in new savings helped to forge a partnership between HUD Secretary Jack Kemp and lawmakers wanting to protect their projects elsewhere.@@@@1@29@@oe@2-2-2013
20328017@unknown@formal@none@1@S@The estimated $1.8 billion for the space station would be double last year's level, and total appropriations for the National Aeronautics and Space Administration would grow 16% to nearly $12.4 billion.@@@@1@31@@oe@2-2-2013
20328018@unknown@formal@none@1@S@A string of costly projects, including the high-speed national aerospace plane and the advanced communications technology satellite, would continue to be developed within these limits.@@@@1@25@@oe@2-2-2013
20328019@unknown@formal@none@1@S@And while imposing a statutory cap of $1.6 billion on future spending, the bill would give NASA $30 million for the start-up of the CRAF-Cassini mission, a successor to the Voyager space probe.@@@@1@33@@oe@2-2-2013
20328020@unknown@formal@none@1@S@Separately, the National Science Foundation is promised a 7.7% increase to bring its appropriations to $2.07 billion.@@@@1@17@@oe@2-2-2013
20328021@unknown@formal@none@1@S@And while pursuing these initiatives, Congress and the White House are squeezed too by steady increases -- $551 million -- in veteran's medical care.@@@@1@24@@oe@2-2-2013
20328022@unknown@formal@none@1@S@The result is that all sides resort to sleight of hand to make room for competing housing and environmental programs, and the commitments now will drive excess spending into fiscal 1991.@@@@1@31@@oe@2-2-2013
20328023@unknown@formal@none@1@S@Senior members of the House Budget Committee are reduced in frustration to raising doomed parliamentary obstacles to individual bills, yet admit that much of the disorder now stems from the fiscal legerdemain associated with their own summit agreement with the White House this past spring.@@@@1@45@@oe@2-2-2013
20328024@unknown@formal@none@1@S@"It's hard to get the administration's attention on anything," said Rep. Bill Frenzel (R., Minn.), "because the whole agreement was built on gimmickry."@@@@1@23@@oe@2-2-2013
20328025@unknown@formal@none@1@S@Among the subsidies continued in the transportation bill is $30.7 million to maintain commercial air service for an estimated 92 communities, often in rural areas.@@@@1@25@@oe@2-2-2013
20328026@unknown@formal@none@1@S@Senate Appropriations Committee Chairman Robert Byrd (D., W.Va.) strongly resisted deeper cuts sought by the House.@@@@1@16@@oe@2-2-2013
20328027@unknown@formal@none@1@S@But at a time when the White House wants to kill the entire program, Republicans have been among its leading champions.@@@@1@21@@oe@2-2-2013
20328028@unknown@formal@none@1@S@Sen. Pete Domenici (R., N.M.), the ranking Republican on the Senate Budget Committee, used his influence to preserve more than $132,000 in subsidies for air service to Sante Fe, N.M., and more than $2.1 million would go for service to eight communities in the western Nebraska district of GOP Rep. Virginia Smith on the House Appropriations Committee.@@@@1@57@@oe@2-2-2013
20328029@unknown@formal@none@1@S@GP Express, an independent airline serving much of Nebraska, estimates that nearly 40% of its revenues come from the subsidies that, in some cases, exceed the cost of a ticket.@@@@1@30@@oe@2-2-2013
20328030@unknown@formal@none@1@S@For example, a passenger can fly from Chardon, Neb., to Denver for as little as $89 to $109, according to prices quoted by the company.@@@@1@25@@oe@2-2-2013
20328031@unknown@formal@none@1@S@But given the few number of users, the cost to the federal government per passenger is estimated at $193, according to House and Senate appropriations committees.@@@@1@26@@oe@2-2-2013
20328032@unknown@formal@none@1@S@The House action yesterday came as the Senate remained mired in difficulties over a $17.25 billion measure covering the budgets for the State, Commerce, and Justice departments in fiscal 1990.@@@@1@30@@oe@2-2-2013
20328033@unknown@formal@none@1@S@The compromise bill passed the House last week but has now provoked jurisdictional fights with the Senate Foreign Relations Committee, which jealously protects its prerogatives over operations at the State Department.@@@@1@31@@oe@2-2-2013
20328034@unknown@formal@none@1@S@The same jealousy can breed confusion, however, in the absence of any authorization bill this year.@@@@1@16@@oe@2-2-2013
20328035@unknown@formal@none@1@S@House and Senate appropriators sought to establish a Nov. 30 deadline after which their bill would become the last word on how funds are distributed.@@@@1@25@@oe@2-2-2013
20328036@unknown@formal@none@1@S@But on a 53-45 roll call this provision was stripped from the bill last night after Foreign Relations Chairman Claiborne Pell (D., R.I.) complained that it was an intrusion on exclusive powers vested in his panel for more than three decades.@@@@1@41@@oe@2-2-2013
20329001@unknown@formal@none@1@S@Coda Energy Inc. said it arranged a $50 million credit facility with NCNB Texas National Bank, a unit of NCNB Corp., of Charlotte, N.C.@@@@1@24@@oe@2-2-2013
20329002@unknown@formal@none@1@S@The Dallas oil and gas concern said that $10 million of the facility would be used to consolidate the company's $8.1 million of existing bank debt, to repurchase 4 million of its 4.9 million shares outstanding of Series D convertible preferred stock, and to purchase a 10% net-profits interest in certain oil and gas properties from one of its existing lenders, National Canada Corp.@@@@1@64@@oe@2-2-2013
20329003@unknown@formal@none@1@S@The remaining $40 million can be used over three years for oil and gas acquisitions, the company said.@@@@1@18@@oe@2-2-2013
20329004@unknown@formal@none@1@S@Ted Eubank, Coda's president, said the loan carries an interest rate of prime plus one percentage point, with 85% of the company's net oil and gas revenue each month dedicated to repayment.@@@@1@32@@oe@2-2-2013
20329005@unknown@formal@none@1@S@The company put up "virtually all" of its oil and gas properties as collateral, he said.@@@@1@16@@oe@2-2-2013
20330001@unknown@formal@none@1@S@General Dynamics Corp. was given an $843 million Air Force contract for F-16 aircraft and related equipment.@@@@1@17@@oe@2-2-2013
20330002@unknown@formal@none@1@S@Loral Corp.'s defense systems division received a $54.9 million Air Force contract for a F-15 weapons system trainer.@@@@1@18@@oe@2-2-2013
20330003@unknown@formal@none@1@S@Southern Air Transport Inc. won $47.5 million in Air Force and Navy contracts for transportation services.@@@@1@16@@oe@2-2-2013
20330004@unknown@formal@none@1@S@International Business Machines Corp. was given a $31.2 million Air Force contract for satellite data systems equipment.@@@@1@17@@oe@2-2-2013
20330005@unknown@formal@none@1@S@Directed Technologies received a $28.3 million Defense Advanced Research Projects Agency contract for advanced propulsion systems research.@@@@1@17@@oe@2-2-2013
20330006@unknown@formal@none@1@S@Propper International Inc. got a $22.8 million Defense Logistics Agency contract for combat camouflage trousers.@@@@1@15@@oe@2-2-2013
20331001@unknown@formal@none@1@S@Santa Fe Pacific was the kind of story Wall Street loved.@@@@1@11@@oe@2-2-2013
20331002@unknown@formal@none@1@S@Since the value of its assets wasn't known, analysts were free to pick a number.@@@@1@15@@oe@2-2-2013
20331003@unknown@formal@none@1@S@In one of many rosy scenarios, Bear Stearns's Gary Schneider wrote in March that its real estate alone had a value of $4.5 billion.@@@@1@24@@oe@2-2-2013
20331004@unknown@formal@none@1@S@Throw in its railroad, minerals, pipeline and oil assets, he and others argued, and the Chicago-based conglomerate should be worth 30 a share.@@@@1@23@@oe@2-2-2013
20331005@unknown@formal@none@1@S@And why should holders expect to realize that presumed "worth?"@@@@1@10@@oe@2-2-2013
20331006@unknown@formal@none@1@S@That was another reason the Street loved Santa Fe.@@@@1@9@@oe@2-2-2013
20331007@unknown@formal@none@1@S@With real estate experts Olympia & York and Samuel Zell's Itel owning close to 40% of Santa Fe's stock, management was under pressure -- in a favored phrase of Wall Street -- to quickly "maximize values."@@@@1@36@@oe@2-2-2013
20331008@unknown@formal@none@1@S@But value, it turns out, is only what a buyer will pay.@@@@1@12@@oe@2-2-2013
20331009@unknown@formal@none@1@S@And with the company's recent announcement that it is contemplating a partial sale of its real estate, the values suddenly look poorer.@@@@1@22@@oe@2-2-2013
20331010@unknown@formal@none@1@S@Santa Fe has disclosed that it is negotiating to sell a 20% interest in its real estate unit to the California Public Employees Retirement System for roughly $400 million.@@@@1@29@@oe@2-2-2013
20331011@unknown@formal@none@1@S@Since the real estate unit also includes debt, the imputed value of the real estate itself is close to $3 billion.@@@@1@21@@oe@2-2-2013
20331012@unknown@formal@none@1@S@"The implied current net asset value of 22.70 {per share} is well below the 30 level that the Street believed," PaineWebber says.@@@@1@22@@oe@2-2-2013
20331013@unknown@formal@none@1@S@"The upside was in the intangible real estate . . . which is no longer an intangible."@@@@1@17@@oe@2-2-2013
20331014@unknown@formal@none@1@S@So what is Santa Fe worth?@@@@1@6@@oe@2-2-2013
20331015@unknown@formal@none@1@S@If the railroad is valued on a private market basis -- at the same multiple of earnings as in the recent sale of CNW -- it would have a value of $1.65 billion.@@@@1@33@@oe@2-2-2013
20331016@unknown@formal@none@1@S@A compromise between bulls and bears puts remaining assets and cash -- including its 44% stake in its publicly traded pipeline -- at $2 billion.@@@@1@25@@oe@2-2-2013
20331017@unknown@formal@none@1@S@Santa Fe also has $3.7 billion in debt.@@@@1@8@@oe@2-2-2013
20331018@unknown@formal@none@1@S@In addition, its railroad lost a $750 million antitrust suit, which is on appeal, and which analysts say could be settled for one-third that amount.@@@@1@25@@oe@2-2-2013
20331019@unknown@formal@none@1@S@That nets out to about $17 a share for the company on a private market basis.@@@@1@16@@oe@2-2-2013
20331020@unknown@formal@none@1@S@But Santa Fe, currently trading at 18 7/8, isn't likely to realize private market values by selling assets, because the tax against it would be onerous.@@@@1@26@@oe@2-2-2013
20331021@unknown@formal@none@1@S@Its plan, instead, is to spin off the remainder of its real estate unit and to possibly do the same with its mining and energy assets.@@@@1@26@@oe@2-2-2013
20331022@unknown@formal@none@1@S@Robert D. Krebs, Santa Fe's chairman, argues that since its businesses are valued in different ways, "the sum of the parts may be greater than the whole."@@@@1@27@@oe@2-2-2013
20331023@unknown@formal@none@1@S@But it isn't clear why that should be so.@@@@1@9@@oe@2-2-2013
20331024@unknown@formal@none@1@S@The spinoff argument, after all, reverses the current notion that assets are worth more to private buyers than to public shareholders.@@@@1@21@@oe@2-2-2013
20331025@unknown@formal@none@1@S@And real estate usually hasn't traded well under public ownership.@@@@1@10@@oe@2-2-2013
20331026@unknown@formal@none@1@S@Salomon Brothers says, "We believe the real estate properties would trade at a discount . . . after the realty unit is spun off. . . .@@@@1@27@@oe@2-2-2013
20331027@unknown@formal@none@1@S@And what about the cost, and risk, of waiting to realize the hypothetical private market values?"@@@@1@16@@oe@2-2-2013
20331028@unknown@formal@none@1@S@Some analysts remain bullish.@@@@1@4@@oe@2-2-2013
20331029@unknown@formal@none@1@S@Mr. Schneider of Bear Stearns says he is recalculating the worth of the company's assets and, in the meantime, is sticking to his "buy" recommendation on the belief that he will find "values" of 30 a share.@@@@1@37@@oe@2-2-2013
20331030@unknown@formal@none@1@S@He adds: "If for any reason I don't have the values, then I won't recommend it."@@@@1@16@@oe@2-2-2013
20331031@unknown@formal@none@1@S@First Boston's Graeme Anne Lidgerwood values Santa Fe at 24, down from her earlier estimate of 29.@@@@1@17@@oe@2-2-2013
20331032@unknown@formal@none@1@S@Her recent report classifies the stock as a "hold."@@@@1@9@@oe@2-2-2013
20331033@unknown@formal@none@1@S@But it appears to be the sort of hold one makes while heading for the door.@@@@1@16@@oe@2-2-2013
20331034@unknown@formal@none@1@S@Quoting from the report: "The stock's narrow discount to asset valuation makes it a relatively unappealing investment at current prices, especially given the risk that our projections could be on the aggressive side."@@@@1@33@@oe@2-2-2013
20331035@unknown@formal@none@1@S@Chairman Krebs says the California pension fund is getting a bargain price that wouldn't have been offered to others.@@@@1@19@@oe@2-2-2013
20331036@unknown@formal@none@1@S@In other words: The real estate has a higher value than the pending deal suggests.@@@@1@15@@oe@2-2-2013
20331037@unknown@formal@none@1@S@Since most of the unit's real estate is in California, the pension fund will be a useful political ally in a state where development is often held hostage to zoning boards.@@@@1@31@@oe@2-2-2013
20331038@unknown@formal@none@1@S@And, as Mr. Zell says, with Itel and O&Y on the unit's board, the real estate will be run by "a very unusual group" to say the least.@@@@1@28@@oe@2-2-2013
20331039@unknown@formal@none@1@S@It is possible then that Santa Fe's real estate -- even in a state imperiled by earthquakes -- could, one day, fetch a king's ransom.@@@@1@25@@oe@2-2-2013
20331040@unknown@formal@none@1@S@But as Drexel analyst Linda Dunn notes, its properties will be developed over 15 to 20 years.@@@@1@17@@oe@2-2-2013
20331041@unknown@formal@none@1@S@So despite Wall Street's rosy talk of quickly "maximizing values," holders could be in for a long wait.@@@@1@18@@oe@2-2-2013
20331042@unknown@formal@none@1@S@Santa Fe Pacific (NYSE; Symbol: SFX)@@@@1@6@@oe@2-2-2013
20331043@unknown@formal@none@1@S@Business: Railroad, natural resources and real estate@@@@1@7@@oe@2-2-2013
20331044@unknown@formal@none@1@S@Year ended Dec. 31, 1988:@@@@1@5@@oe@2-2-2013
20331045@unknown@formal@none@1@S@Revenue: $3.14 billion@@@@1@3@@oe@2-2-2013
20331046@unknown@formal@none@1@S@Net loss: $46.5 million; 30 cents a share@@@@1@8@@oe@2-2-2013
20331047@unknown@formal@none@1@S@Third quarter, Sept. 30, 1989:@@@@1@5@@oe@2-2-2013
20331048@unknown@formal@none@1@S@Net income: 21 cents a share vs. net loss of $4.11 a share@@@@1@13@@oe@2-2-2013
20331049@unknown@formal@none@1@S@Average daily trading volume: 344,354 shares@@@@1@6@@oe@2-2-2013
20332001@unknown@formal@none@1@S@Orkem S.A., a French state-controlled chemical manufacturer, is making a friendly bid of 470 pence ($7.43) a share for the 59.2% of U.K. specialty chemical group Coates Brothers PLC which it doesn't already own, the two sides said.@@@@1@38@@oe@2-2-2013
20332002@unknown@formal@none@1@S@The offer, which values the whole of Coates at #301 million, has already been accepted by Coates executives and other shareholders owning 12.4% of the company.@@@@1@26@@oe@2-2-2013
20332003@unknown@formal@none@1@S@The acceptances give Orkem a controlling 53.2% stake in the company.@@@@1@11@@oe@2-2-2013
20332004@unknown@formal@none@1@S@Orkem and Coates said last Wednesday that the two were considering a merger, through Orkem's British subsidiary, Orkem Coatings U.K. Ltd.@@@@1@21@@oe@2-2-2013
20332005@unknown@formal@none@1@S@Orkem, France's third-largest chemical group, said it would fund the acquisition through internal resources.@@@@1@14@@oe@2-2-2013
20332006@unknown@formal@none@1@S@The takeover would be followed by a restructuring of Orkem's U.K. unit, including the addition of related Orkem businesses and possibly further acquisitions.@@@@1@23@@oe@2-2-2013
20332007@unknown@formal@none@1@S@Orkem said it eventually would seek to make a public share offering in its U.K. business.@@@@1@16@@oe@2-2-2013
20333001@unknown@formal@none@1@S@Intelogic Trace Inc. said it is exploring alternatives to maximize shareholder value, including the possible sale of the company.@@@@1@19@@oe@2-2-2013
20333002@unknown@formal@none@1@S@But Asher B. Edelman, who controls about 16% of the San Antonio, Texas, computer-servicing company, insisted that the announcement didn't have anything to do with the ongoing battle for control of Datapoint Corp.@@@@1@33@@oe@2-2-2013
20333003@unknown@formal@none@1@S@Any sale of Intelogic could have an impact on the battle between Mr. Edelman and New York attorney Martin Ackerman for control of Datapoint.@@@@1@24@@oe@2-2-2013
20333004@unknown@formal@none@1@S@Intelogic holds 27.5% of Datapoint's common shares outstanding.@@@@1@8@@oe@2-2-2013
20333005@unknown@formal@none@1@S@Mr. Edelman said the decision "has nothing to do with Marty Ackerman."@@@@1@12@@oe@2-2-2013
20333006@unknown@formal@none@1@S@Mr. Ackerman contended that it was a direct response to his efforts to gain control of Datapoint.@@@@1@17@@oe@2-2-2013
20333007@unknown@formal@none@1@S@Intelogic was spun off from Datapoint four years ago, shortly after Mr. Edelman took control of Datapoint.@@@@1@17@@oe@2-2-2013
20334001@unknown@formal@none@1@S@Marks & Spencer PLC reported a 12% gain in first-half pretax profit, mainly because of improving performances in the U.K. and continental Europe.@@@@1@23@@oe@2-2-2013
20334002@unknown@formal@none@1@S@In the six months ended Sept. 30, pretax profit at the British clothing and food retailer rose to #208.7 million ($330.1 million) from #185.5 million a year ago.@@@@1@28@@oe@2-2-2013
20334003@unknown@formal@none@1@S@The results surpassed analysts' forecasts, which averaged around #200 million, and Marks & Spencer responded in trading on London's Stock Exchange with an eight pence rise to 188 pence.@@@@1@29@@oe@2-2-2013
20334004@unknown@formal@none@1@S@Profit after tax and minority interest but before extraordinary items rose 12% to #135.2 million; per-share earnings rose to five pence from 4.5 pence.@@@@1@24@@oe@2-2-2013
20334005@unknown@formal@none@1@S@Marks declared an interim per-share dividend of 1.85 pence, compared with 1.7 pence a year earlier.@@@@1@16@@oe@2-2-2013
20334006@unknown@formal@none@1@S@Sales increased 11% to #2.5 billion from #2.25 billion, while operating profit climbed 13% to #225.7 million from #199.8 million.@@@@1@20@@oe@2-2-2013
20334007@unknown@formal@none@1@S@Sales in North America and the Far East were inflated by acquisitions, rising 62% to #278 million.@@@@1@17@@oe@2-2-2013
20334008@unknown@formal@none@1@S@Operating profit dropped 35%, however, to #3.8 million.@@@@1@8@@oe@2-2-2013
20334009@unknown@formal@none@1@S@Brooks Brothers, which Marks bought last year, saw operating profit drop in half to #5 million.@@@@1@16@@oe@2-2-2013
20335001@unknown@formal@none@1@S@Federal and state thrift examiners said they saw evidence of criminal wrongdoing in the collapse of Lincoln Savings & Loan Association, and a California regulator described an attempted "whitewash" by deputies of chief federal regulator Danny Wall.@@@@1@37@@oe@2-2-2013
20335002@unknown@formal@none@1@S@In a riveting day of hearings before the House Banking Committee, the examiners described finding shredded documents, a mysterious Panamanian subsidiary, millions of dollars funneled into a Swiss bank, and a complacent attitude by Mr. Wall's deputies, one of whom was portrayed as acting more like a public-relations man for the thrift than a federal regulator.@@@@1@56@@oe@2-2-2013
20335003@unknown@formal@none@1@S@A California official also said he sent the Federal Bureau of Investigation a packet of documents relating to a previously reported $400,000 contribution from Lincoln's parent solicited by Sen. Alan Cranston (D., Calif.).@@@@1@33@@oe@2-2-2013
20335004@unknown@formal@none@1@S@Federal examiner Alex Barabolak said Lincoln's operations amounted to "pyramiding debt to provide a luxurious life style for its owners."@@@@1@20@@oe@2-2-2013
20335005@unknown@formal@none@1@S@Another federal examiner, John Meek, said Lincoln's principal owner, Charles Keating Jr., and his family drew off at least $34 million from the thrift in salaries, bonuses and proceeds from securities sales in the 3 1/2 years before federal authorities seized it earlier this year.@@@@1@45@@oe@2-2-2013
20335006@unknown@formal@none@1@S@Lincoln's collapse may cost taxpayers as much as $2.5 billion, according to estimates, making it the most expensive thrift failure in history.@@@@1@22@@oe@2-2-2013
20335007@unknown@formal@none@1@S@"I think there's overwhelming evidence to indicate probable criminal activity," said Mr. Meek, who participated last year in an examination of the Irvine, Calif., thrift.@@@@1@25@@oe@2-2-2013
20335008@unknown@formal@none@1@S@He said the evidence pointed to wrongdoing by Mr. Keating "and others," although he didn't allege any specific violation.@@@@1@19@@oe@2-2-2013
20335009@unknown@formal@none@1@S@Richard Newsom, a California state official who last year examined Lincoln's parent, American Continental Corp., said he also saw evidence that crimes had been committed.@@@@1@25@@oe@2-2-2013
20335010@unknown@formal@none@1@S@"It sure smells like it," he said.@@@@1@7@@oe@2-2-2013
20335011@unknown@formal@none@1@S@He said 30% of the loans he sampled were "dead meat on the day they were made."@@@@1@17@@oe@2-2-2013
20335012@unknown@formal@none@1@S@The state examiner also said supervisors of a parallel federal examination seemed so reluctant to demand write-downs of Lincoln's bad loans that he immediately grew suspicious.@@@@1@26@@oe@2-2-2013
20335013@unknown@formal@none@1@S@"Later on, my concerns about a whitewash became even more serious," he said.@@@@1@13@@oe@2-2-2013
20335014@unknown@formal@none@1@S@He called the sour loans "appalling" and added, "You opened the file up and it just jumped at you."@@@@1@19@@oe@2-2-2013
20335015@unknown@formal@none@1@S@Leonard Bickwit, a Washington attorney for Lincoln's parent corporation, said in an interview, "We deny any criminal behavior by the association or its officers."@@@@1@24@@oe@2-2-2013
20335016@unknown@formal@none@1@S@"Those who testified {yesterday} have consistently maintained that anyone who didn't agree with them is part of a coverup, a whitewash, or the subject of excessive influence," Mr. Bickwit said.@@@@1@30@@oe@2-2-2013
20335017@unknown@formal@none@1@S@"We simply don't agree with that or the findings of their investigation."@@@@1@12@@oe@2-2-2013
20335018@unknown@formal@none@1@S@Mr. Wall's deputies complained that they hadn't been given an opportunity to respond to the criticism brought out during the Banking Committee's hearings, which Committee Chairman Henry Gonzalez (D., Texas) has used as a forum to flay Mr. Wall's handling of the affair and to demand that he step aside from his job.@@@@1@53@@oe@2-2-2013
20335019@unknown@formal@none@1@S@"A couple of things Mr. Newsom said were at least misleading," said Kevin O'Connell, one of the Washington regulators responsible for the handling of Lincoln.@@@@1@25@@oe@2-2-2013
20335020@unknown@formal@none@1@S@In an interview, he said federal regulators eventually declared one of the loans the state regulator cited to be a total loss, and forced Lincoln to make an $18 million downward adjustment on another.@@@@1@34@@oe@2-2-2013
20335021@unknown@formal@none@1@S@"Our response to the whitewash would simply be, look what happened," another Washington official, Alvin Smuzynski, said in an interview.@@@@1@20@@oe@2-2-2013
20335022@unknown@formal@none@1@S@Federal officials seized the association in April, a day after the parent corporation entered bankruptcy-law proceedings.@@@@1@16@@oe@2-2-2013
20335023@unknown@formal@none@1@S@The government later brought a $1.1 billion fraud suit against Mr. Keating and others.@@@@1@14@@oe@2-2-2013
20335024@unknown@formal@none@1@S@Rep. Gonzalez has complained that regulators waited far too long, however, ignoring a recommendation from regional officials to place Lincoln into receivership two years before it failed.@@@@1@27@@oe@2-2-2013
20335025@unknown@formal@none@1@S@"He took the reckless course of ignoring the evidence," Rep. Gonzalez said.@@@@1@12@@oe@2-2-2013
20335026@unknown@formal@none@1@S@State thrift examiner Eugene Stelzer said he found the chief federal examiner Steve Scott to be totally uninterested in one allegedly fraudulent series of transactions.@@@@1@25@@oe@2-2-2013
20335027@unknown@formal@none@1@S@"Frankly, it was like he worked for the Lincoln public-relations department," Mr. Stelzer testified.@@@@1@14@@oe@2-2-2013
20335028@unknown@formal@none@1@S@And David Riley, a federal examiner who worked under Mr. Scott, said he found his chief oddly upbeat about Lincoln.@@@@1@20@@oe@2-2-2013
20335029@unknown@formal@none@1@S@Asked to comment, a spokesman for Mr. Scott said: "Mr. Scott has spoken to his attorney, who has advised him not to talk to anybody."@@@@1@25@@oe@2-2-2013
20335030@unknown@formal@none@1@S@Mr. Meek said that a day or two before Lincoln's parent entered bankruptcy proceedings, he and other examiners saw "a truck with a sign on it that said it was from the `Document Destruction Center.'@@@@1@35@@oe@2-2-2013
20335031@unknown@formal@none@1@S@We observed at least two large plastic bags of shredded paper loaded into this truck."@@@@1@15@@oe@2-2-2013
20335032@unknown@formal@none@1@S@Mr. Bickwit said the paper had been donated to "a charitable organization that sells it for recycling.@@@@1@17@@oe@2-2-2013
20335033@unknown@formal@none@1@S@They shredded it simply because it contained financial information about their creditors and depositors."@@@@1@14@@oe@2-2-2013
20335034@unknown@formal@none@1@S@Mr. Meek said his suspicions were aroused by several foreign investments by Lincoln, including $22 million paid to Credit Suisse of Switzerland, an $18 million interest in Saudi European Bank in Paris, a $17.5 million investment in a Bahamas trading company, and a recently discovered holding in a Panama-based company, Southbrook Holdings.@@@@1@52@@oe@2-2-2013
20335035@unknown@formal@none@1@S@Mr. Bickwit said, "I can see why an S&L examiner would regard these as unusual activities," but said the overseas investments "essentially broke even" for the S&L.@@@@1@27@@oe@2-2-2013
20336001@unknown@formal@none@1@S@LTV Steel Co. is boosting the prices of flat rolled steel products by an average of 3% following a recent erosion in the prices of such crucial steel products.@@@@1@29@@oe@2-2-2013
20336002@unknown@formal@none@1@S@The big questions are whether the increase, effective Jan. 1, 1990, will stick, and whether other major steelmakers will follow suit.@@@@1@21@@oe@2-2-2013
20336003@unknown@formal@none@1@S@It is widely expected that they will.@@@@1@7@@oe@2-2-2013
20336004@unknown@formal@none@1@S@The increase is on the base price, which is already being discounted by virtually all steel producers.@@@@1@17@@oe@2-2-2013
20336005@unknown@formal@none@1@S@But LTV's move marks the first effort by a major steelmaker to counter the free fall in spot prices.@@@@1@19@@oe@2-2-2013
20336006@unknown@formal@none@1@S@Major steel producers are selling cold rolled sheet steel at about $370 a ton, compared with a peak price of $520 a ton in 1988.@@@@1@25@@oe@2-2-2013
20336007@unknown@formal@none@1@S@Second-tier companies are receiving even less per ton.@@@@1@8@@oe@2-2-2013
20336008@unknown@formal@none@1@S@LTV's planned increase, which was announced in an Oct. 26 memo to district managers, doesn't affect electrogalvanized steel or tin plate.@@@@1@21@@oe@2-2-2013
20336009@unknown@formal@none@1@S@LTV confirmed the price-increase plan, saying the move is designed to more accurately reflect the value of products and to put steel on more equal footing with other commodities.@@@@1@29@@oe@2-2-2013
20336010@unknown@formal@none@1@S@A spokesman for LTV Steel, which is a unit of Dallas-based LTV Corp., noted that steel prices, adjusted for inflation, increased only 1.7% between 1981 and the fourth quarter of 1988, while the prices of other industrial commodities increased nearly five times as much.@@@@1@44@@oe@2-2-2013
20336011@unknown@formal@none@1@S@At the same time, steelmakers are trying to invest more to modernize technology and make themselves more competitive.@@@@1@18@@oe@2-2-2013
20336012@unknown@formal@none@1@S@But analysts say the company is also trying to prevent further price drops.@@@@1@13@@oe@2-2-2013
20336013@unknown@formal@none@1@S@Moreover, they note that LTV may be trying to send a signal to major customers, such as Chrysler Corp. and Whirlpool Corp., that steelmakers need more money.@@@@1@27@@oe@2-2-2013
20336014@unknown@formal@none@1@S@Both companies are in the process of negotiating contracts with LTV and others.@@@@1@13@@oe@2-2-2013
20336015@unknown@formal@none@1@S@"They {LTV} may believe this can impact contract negotiations and is their signal to the world that now is the time to get tough on prices," said Peter Marcus, an analyst with PaineWebber Inc.@@@@1@34@@oe@2-2-2013
20336016@unknown@formal@none@1@S@Mr. Marcus believes spot steel prices will continue to fall through early 1990 and then reverse themselves.@@@@1@17@@oe@2-2-2013
20336017@unknown@formal@none@1@S@He isn't convinced, though, that the price decline reflects falling demand because the world economy remains relatively strong.@@@@1@18@@oe@2-2-2013
20336018@unknown@formal@none@1@S@And while customers such as steel service centers are continuing to reduce inventories through the fourth quarter, they eventually will begin stocking up again, he notes.@@@@1@26@@oe@2-2-2013
20336019@unknown@formal@none@1@S@It won't be clear for months whether the price increase will stick.@@@@1@12@@oe@2-2-2013
20336020@unknown@formal@none@1@S@Steelmakers announced a round of base-price increases last year, but began offering sizable discounts over the summer.@@@@1@17@@oe@2-2-2013
20336021@unknown@formal@none@1@S@In fact, LTV was the first steelmaker to publicly boost discounts for buyers of cold rolled sheet steel and hot-dipped galvanized sheet steel.@@@@1@23@@oe@2-2-2013
20336022@unknown@formal@none@1@S@In composite New York Stock Exchange trading yesterday, LTV common shares fell 12.5 cents to close at $1.50.@@@@1@18@@oe@2-2-2013
20337001@unknown@formal@none@1@S@The Treasury plans to raise $2.3 billion in new cash with the sale Monday of about $16 billion in short-term bills to redeem $13.71 billion in maturing bills.@@@@1@28@@oe@2-2-2013
20337002@unknown@formal@none@1@S@However, the Treasury said it will postpone the auction unless it has assurances of enactment of legislation to raise the statutory debt limit before the scheduled auction date.@@@@1@28@@oe@2-2-2013
20337003@unknown@formal@none@1@S@The offering will be divided evenly between 13-week and 26-week bills maturing on Feb. 8, 1990, and May 10, 1990, respectively.@@@@1@21@@oe@2-2-2013
20337004@unknown@formal@none@1@S@Tenders for the bills, available in minimum $10,000 denominations, must be received by 1 p.m. EST Monday at the Treasury or at Federal Reserve banks or branches.@@@@1@27@@oe@2-2-2013
20338001@unknown@formal@none@1@S@J.C. Penney Co. is extending its involvement in a televised home-shopping service by five to 10 years.@@@@1@17@@oe@2-2-2013
20338002@unknown@formal@none@1@S@Shop Television Network Inc., of Los Angeles, said Penney agreed to continue its exclusive arrangement with Shop Television, which does the production, marketing and cable distribution for the J.C. Penney Television Shopping Channel.@@@@1@33@@oe@2-2-2013
20338003@unknown@formal@none@1@S@The channel reaches 6.5 million homes, a Penney spokesman said.@@@@1@10@@oe@2-2-2013
20338004@unknown@formal@none@1@S@Michael Rosen, president of Shop Television, said Penney decided to extend its involvement with the service for at least five years.@@@@1@21@@oe@2-2-2013
20338005@unknown@formal@none@1@S@If, by that time, the network reaches 14 million homes, the contract will be renewed for five more years.@@@@1@19@@oe@2-2-2013
20338006@unknown@formal@none@1@S@Earlier this year, Penney abandoned another home shopping venture, Telaction Corp., after investing $106 million in it.@@@@1@17@@oe@2-2-2013
20338007@unknown@formal@none@1@S@The company took a $20 million charge in the fiscal first quarter ended April 29, related to discontinuing the service.@@@@1@20@@oe@2-2-2013
20339001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
20339002@unknown@formal@none@1@S@LUTHER BURBANK CROSS-BRED PLANTS to produce the billion-dollar Idaho potato.@@@@1@10@@oe@2-2-2013
20339003@unknown@formal@none@1@S@Bioengineers set out to duplicate that feat -- scientifically and commercially -- with new life forms.@@@@1@16@@oe@2-2-2013
20339004@unknown@formal@none@1@S@In 1953, James Watson and his colleagues unlocked the double helix of DNA (deoxyribonucleic acid), the genetic key to heredity.@@@@1@20@@oe@2-2-2013
20339005@unknown@formal@none@1@S@Twenty years later, two California academics, Stanley Cohen and Herbert Boyer, made "recombinant" DNA, transplanting a toad's gene into bacteria, which then reproduced toad genes.@@@@1@25@@oe@2-2-2013
20339006@unknown@formal@none@1@S@When Boyer met Robert Swanson, an M.I.T.-trained chemist-turned-entrepreneur in 1976, they saw dollar signs.@@@@1@14@@oe@2-2-2013
20339007@unknown@formal@none@1@S@With $500 apiece and an injection of outside capital, they formed Genentech Inc.@@@@1@13@@oe@2-2-2013
20339008@unknown@formal@none@1@S@Commercial gene-splicing was born.@@@@1@4@@oe@2-2-2013
20339009@unknown@formal@none@1@S@Genentech's first product, a brain protein called somatostatin, proved its technology.@@@@1@11@@oe@2-2-2013
20339010@unknown@formal@none@1@S@The next to be cloned, human insulin, had market potential and Genentech licensed it to Eli Lilly, which produced 80% of the insulin used by 1.5 million U.S. diabetics.@@@@1@29@@oe@2-2-2013
20339011@unknown@formal@none@1@S@Their laboratory credentials established, Boyer and Swanson headed for Wall Street in 1980.@@@@1@13@@oe@2-2-2013
20339012@unknown@formal@none@1@S@At the time, Genentech had only one profitable year behind it (a modest $116,000 on revenue of $2.6 million in 1979) and no product of its own on the market.@@@@1@30@@oe@2-2-2013
20339013@unknown@formal@none@1@S@Nonetheless, the $36 million issue they floated in 1980 opened at $35 and leaped to $89 within 20 minutes.@@@@1@19@@oe@2-2-2013
20339014@unknown@formal@none@1@S@The trip from the test tube was not without snags.@@@@1@10@@oe@2-2-2013
20339015@unknown@formal@none@1@S@Boyer and Cohen, for instance, both still university researchers, had to be talked into applying for a patent on their gene-splicing technique -- and then the Patent Office refused to grant it.@@@@1@32@@oe@2-2-2013
20339016@unknown@formal@none@1@S@That judgment, in turn, was reversed by the U.S. Supreme Court, leaving Cohen and Boyer holding the first patents for making recombinant DNA (now assigned to their schools).@@@@1@28@@oe@2-2-2013
20339017@unknown@formal@none@1@S@Gene-splicing now is an integral part of the drug business.@@@@1@10@@oe@2-2-2013
20339018@unknown@formal@none@1@S@Genentech's 1988 sales were $335 million, both from licensing and its own products.@@@@1@13@@oe@2-2-2013
20340001@unknown@formal@none@1@S@The portfolio unit of the French bank group Credit Lyonnais told stock market regulators that it bought 43,000 shares of Cie. de Navigation Mixte, apparently to help fend off an unwelcome takeover bid for the company.@@@@1@36@@oe@2-2-2013
20340002@unknown@formal@none@1@S@Earlier yesterday, the Societe de Bourses Francaises was told that a unit of Framatome S.A. also bought Navigation Mixte shares, this purchase covering more than 160,000 shares.@@@@1@27@@oe@2-2-2013
20340003@unknown@formal@none@1@S@Both companies are allies of Navigation Mixte in its fight against a hostile takeover bid launched last week by Cie.@@@@1@20@@oe@2-2-2013
20340004@unknown@formal@none@1@S@Financiere de Paribas at 1,850 French francs ($297) a share.@@@@1@10@@oe@2-2-2013
20340005@unknown@formal@none@1@S@Navigation Mixte's chairman had suggested that friendly institutions were likely to buy its stock as soon as trading opened Monday.@@@@1@20@@oe@2-2-2013
20340006@unknown@formal@none@1@S@The Credit Lyonnais purchase, for 33,000 regular common shares and 10,000 newly created shares, is valued at about slightly more than 80 million French francs.@@@@1@25@@oe@2-2-2013
20341001@unknown@formal@none@1@S@Unocal Corp., Los Angeles, said it and Petroleos de Venezuela S.A. would create a petroleum marketing and refining general partnership in the Midwest.@@@@1@23@@oe@2-2-2013
20341002@unknown@formal@none@1@S@The joint venture, Uno-Ven Co., would generate total annual revenue of about $500 million and have 1,100 employees, a Unocal spokesman said.@@@@1@22@@oe@2-2-2013
20341003@unknown@formal@none@1@S@Unocal said the venture would enable it to recover more of its refining and marketing investment and prepare for expected growth in exploration, production, chemicals and other areas.@@@@1@28@@oe@2-2-2013
20341004@unknown@formal@none@1@S@It said financing would consist of $250 million from a private placement obtained through Shearson Lehman Hutton Inc. and a $150 million revolving credit line underwritten by Chase Manhattan Bank.@@@@1@30@@oe@2-2-2013
20341005@unknown@formal@none@1@S@In addition to Unocal's 153,000 barrel-a-day refinery near Lemont, Ill., the new venture would control 17 distribution terminals, a lubricating-oil blending and packaging plant, and 131 company-owned Unocal service stations.@@@@1@30@@oe@2-2-2013
20341006@unknown@formal@none@1@S@It said the venture, expected to take control of the facilities Dec. 1, would also serve another 3,300 independent Unocal gasoline stations.@@@@1@22@@oe@2-2-2013
20341007@unknown@formal@none@1@S@Petroleos will supply 135,000 barrels of oil a day for the refinery, Unocal said.@@@@1@14@@oe@2-2-2013
20342001@unknown@formal@none@1@S@Mitsubishi Heavy Industries Ltd. said unconsolidated pretax earnings in the fiscal first half surged 79% to a record 63.25 billion yen ($445.7 million), reflecting strong demand for a variety of products.@@@@1@31@@oe@2-2-2013
20342002@unknown@formal@none@1@S@In the period ended Sept. 30, net income rose 90% to 31.18 billion yen, or 9.34 yen a share, from 16.38 billion yen, or 5.05 yen a share.@@@@1@28@@oe@2-2-2013
20342003@unknown@formal@none@1@S@A year ago, the Tokyo company had pretax profit of 35.38 billion yen.@@@@1@13@@oe@2-2-2013
20342004@unknown@formal@none@1@S@Sales amounted to 1.011 trillion yen, climbing 29% from 787.02 billion yen.@@@@1@12@@oe@2-2-2013
20342005@unknown@formal@none@1@S@Encouraged by the brisk performance, Mitsubishi plans to raise its per-share dividend to 3.50 yen from three yen.@@@@1@18@@oe@2-2-2013
20342006@unknown@formal@none@1@S@Company officials said the current robust domestic demand that has been fueling sustained economic expansion helped push up sales of products like ships, steel structures, power systems and machinery and resulted in sharply higher profit.@@@@1@35@@oe@2-2-2013
20343001@unknown@formal@none@1@S@Senate leaders traded proposals aimed at speeding action on legislation to narrow the deficit and raise the federal government's debt limit -- but the major stumbling block remains President Bush's proposal to cut the capital-gains tax rate.@@@@1@37@@oe@2-2-2013
20343002@unknown@formal@none@1@S@Democrats want the tax provision to be a separate bill, subject to the usual procedural obstacles.@@@@1@16@@oe@2-2-2013
20343003@unknown@formal@none@1@S@Republicans, meanwhile, want to try to protect the measure by combining it with two politically popular issues that Democrats could find hard to block.@@@@1@24@@oe@2-2-2013
20343004@unknown@formal@none@1@S@The talks between Senate Majority Leader George Mitchell of Maine and his GOP counterpart, Sen. Robert Dole of Kansas, are expected to resume today.@@@@1@24@@oe@2-2-2013
20343005@unknown@formal@none@1@S@Last night, after meeting with Mr. Bush and administration officials at the White House, Mr. Dole proposed streamlining the fiscal 1990 deficit-reduction bill, now stalled in a House-Senate conference committee, and passing a long-term extension of the federal debt ceiling without any accompanying amendments.@@@@1@44@@oe@2-2-2013
20343006@unknown@formal@none@1@S@Under this plan, two provisions currently in the House version of the deficit-cutting bill -- repeal of both the catastrophic-illness insurance program and a controversial 1986 tax provision intended to counter discrimination in employee-benefit plans -- would be made into a separate bill.@@@@1@43@@oe@2-2-2013
20343007@unknown@formal@none@1@S@Republicans would try to attach a capital-gains provision to that legislation, hoping the political popularity of its other two parts would dissuade Democrats from blocking it.@@@@1@26@@oe@2-2-2013
20343008@unknown@formal@none@1@S@Democrats want to avoid having to make that choice by making the capital-gains tax cut an individual bill.@@@@1@18@@oe@2-2-2013
20343009@unknown@formal@none@1@S@Sen. Mitchell is confident he has sufficient votes to block such a measure with procedural actions.@@@@1@16@@oe@2-2-2013
20343010@unknown@formal@none@1@S@Both plans would drop child-care provisions from the House version of the deficit-reduction legislation and let it progress as a separate bill.@@@@1@22@@oe@2-2-2013
20343011@unknown@formal@none@1@S@While that could make it vulnerable to a veto by Mr. Bush, Democrats argue that a presidential rejection would give their party a valuable issue in next year's congressional elections.@@@@1@30@@oe@2-2-2013
20343012@unknown@formal@none@1@S@Senate Democrats are to meet today to consider the GOP proposal.@@@@1@11@@oe@2-2-2013
20343013@unknown@formal@none@1@S@Yesterday, Mr. Dole seemed weary of the Bush administration's strategy of pushing the capital-gains measure at every chance in the face of Democratic procedural hurdles.@@@@1@25@@oe@2-2-2013
20343014@unknown@formal@none@1@S@Pushing the issue on legislation needed to avoid default by the federal government, he told reporters, "doesn't seem to be very good strategy to me."@@@@1@25@@oe@2-2-2013
20343015@unknown@formal@none@1@S@At 12:01 a.m. EST today, the federal government's temporary $2.87 trillion debt limit expired.@@@@1@14@@oe@2-2-2013
20343016@unknown@formal@none@1@S@To avoid default, lawmakers must pass legislation raising the limit to $3.12 trillion from $2.80 trillion by next Wednesday, according to the Treasury.@@@@1@23@@oe@2-2-2013
20343017@unknown@formal@none@1@S@Pressed by Chairman Dan Rostenkowski (D., Ill.) of the House Ways and Means Committee, Treasury Undersecretary Robert Glauber told a congressional hearing that the administration would give up its demand for the capital-gains tax cut if faced with a potential default.@@@@1@41@@oe@2-2-2013
20344001@unknown@formal@none@1@S@Price Stern Sloan Inc. said it hired an investment banking firm to assist in evaluating restructuring or merger alternatives and reported a net loss of $8.1 million, or $2.14 a share, for the third quarter ended Sept.@@@@1@37@@oe@2-2-2013
20344002@unknown@formal@none@1@S@These results compare with net income of $1.8 million, or 44 cents a share, for the corresponding period last year.@@@@1@20@@oe@2-2-2013
20344003@unknown@formal@none@1@S@This quarter's loss includes pretax charges of $4.9 million on the proposed discontinuation of the company's troubled British subsidiary, and $3.7 million of other write-offs the company said were non-recurring and principally related to inventory, publishing advances and pre-publication costs.@@@@1@40@@oe@2-2-2013
20344004@unknown@formal@none@1@S@The publishing concern said it retained the investment banking firm of Donaldson, Lufkin & Jenrette Securities Inc. to act as its financial adviser, assisting in the evaluation of various financial and strategic alternatives, including debt refinancing, raising capital, recapitalization, a merger or sale of the company.@@@@1@46@@oe@2-2-2013
20344005@unknown@formal@none@1@S@The company also retained attorney Martin P. Levin, a director of the company and former head of the Times-Mirror Publishing Group, as an adviser.@@@@1@24@@oe@2-2-2013
20344006@unknown@formal@none@1@S@Net sales for this year's third quarter were $14 million, down from $21.4 million last year.@@@@1@16@@oe@2-2-2013
20344007@unknown@formal@none@1@S@The company attributed the decrease in part to the exclusion of the company's British sales from the current year's figures as a result of the subsidiary's status as a proposed discontinued operation and, in part, to lower sales in certain key foreign and domestic accounts.@@@@1@45@@oe@2-2-2013
20344008@unknown@formal@none@1@S@U.K. sales for last year's quarter were about $3 million.@@@@1@10@@oe@2-2-2013
20345001@unknown@formal@none@1@S@Stock prices surged as a multibillion-dollar takeover proposal helped restore market players' confidence about the prospects for further deal-making.@@@@1@19@@oe@2-2-2013
20345002@unknown@formal@none@1@S@Paper and forest-products stocks were especially strong, as the offer for Great Northern Nekoosa by Georgia-Pacific triggered speculation that the industry could be in for a wave of merger activity.@@@@1@30@@oe@2-2-2013
20345003@unknown@formal@none@1@S@The Dow Jones Industrial Average climbed 41.60 to 2645.08 even though some late selling caused the market to retreat from session highs.@@@@1@22@@oe@2-2-2013
20345004@unknown@formal@none@1@S@Trading was moderate, with 176,100,000 shares changing hands on the New York Stock Exchange.@@@@1@14@@oe@2-2-2013
20345005@unknown@formal@none@1@S@Aside from the takeover news, big buy orders were placed for blue-chip shares in afternoon trading.@@@@1@16@@oe@2-2-2013
20345006@unknown@formal@none@1@S@Traders said the buy programs came from very large institutional accounts that were also active in the stock-index futures markets.@@@@1@20@@oe@2-2-2013
20345007@unknown@formal@none@1@S@At one point, almost all of the shares in the 20-stock Major Market Index, which mimics the industrial average, were sharply higher.@@@@1@22@@oe@2-2-2013
20345008@unknown@formal@none@1@S@Some 1,111 Big Board issues advanced in price and only 448 declined, while broader market averages rose sharply.@@@@1@18@@oe@2-2-2013
20345009@unknown@formal@none@1@S@Standard & Poor's 500-Stock Index climbed 5.29 to 340.36, the Dow Jones Equity Market Index added 4.70 to 318.79 and the New York Stock Exchange Composite Index climbed 2.65 to@@@@1@30@@oe@2-2-2013
20345010@unknown@formal@none@1@S@Great Northern surged 20 1/8 to 62 7/8, well above Georgia-Pacific's offering price of $58 a share, amid speculation that other suitors for the company would surface or that the bid would be raised.@@@@1@34@@oe@2-2-2013
20345011@unknown@formal@none@1@S@Nearly 6.3 million shares, or about 11.5% of the company's shares outstanding, changed hands in Big Board composite trading.@@@@1@19@@oe@2-2-2013
20345012@unknown@formal@none@1@S@With stocks having been battered lately because of the collapse of takeover offers for UAL, the parent company of United Airlines, and AMR, the parent of American Airlines, analysts viewed the proposal as a psychological lift for the market.@@@@1@39@@oe@2-2-2013
20345013@unknown@formal@none@1@S@The $3.18 billion bid, which had been rumored since last week, "creates a better feeling that there's value in the market at current levels and renews prospects for a hot tape," says A.C. Moore, director of research at Argus Research Corp.@@@@1@41@@oe@2-2-2013
20345014@unknown@formal@none@1@S@Traders and analysts alike said the market's surge also reflected an easing of concerns about volatility because of moves by a number of brokerage firms to curtail or cease stock-index arbitrage.@@@@1@31@@oe@2-2-2013
20345015@unknown@formal@none@1@S@Much of the instability in stock prices lately has been blamed on arbitrage trading, designed to profit from differences in prices between stocks and index futures.@@@@1@26@@oe@2-2-2013
20345016@unknown@formal@none@1@S@"People are looking for an ability to try and read the market, rather than be manipulated," said Dudley A. Eppel, manager of equity trading at Donaldson, Lufkin & Jenrette.@@@@1@29@@oe@2-2-2013
20345017@unknown@formal@none@1@S@He noted that institutional investors showed "pretty general" interest in stocks in the latest session.@@@@1@15@@oe@2-2-2013
20345018@unknown@formal@none@1@S@But traders also said arbitrage-related trading contributed to the market's surge, as buy programs boosted prices shortly after the opening and sporadically through the remainder of the session.@@@@1@28@@oe@2-2-2013
20345019@unknown@formal@none@1@S@Georgia-Pacific fell 2 1/2 to 50 7/8, but most paper and forest-products stocks firmed as market players speculated about other potential industry takeover targets.@@@@1@24@@oe@2-2-2013
20345020@unknown@formal@none@1@S@Within the paper sector, Mead climbed 2 3/8 to 38 3/4 on 1.3 million shares, Union Camp rose 2 3/4 to 37 3/4, Federal Paper Board added 1 3/4 to 23 7/8, Bowater gained 1 1/2 to 27 1/2, Stone Container rose 1 to 26 1/8 and Temple-Inland jumped 3 3/4 to 62 1/4.@@@@1@54@@oe@2-2-2013
20345021@unknown@formal@none@1@S@Forest-products issues showing strength included Champion International, which went up 1 3/8 to 31 7/8; Weyerhaeuser, up 3/4 to 27 1/4; Louisiana-Pacific, up 1 1/8 to 40 3/8, and Boise Cascade, up 5/8 to 42.@@@@1@35@@oe@2-2-2013
20345022@unknown@formal@none@1@S@The theme of industry consolidation had surfaced earlier this year among drug stocks, which posted solid gains in the latest session.@@@@1@21@@oe@2-2-2013
20345023@unknown@formal@none@1@S@Pfizer gained 1 7/8 to 67 5/8, Schering-Plough added 2 1/4 to 75 3/4, Eli Lilly rose 1 3/8 to 62 1/8 and Upjohn firmed 3/4 to 38.@@@@1@28@@oe@2-2-2013
20345024@unknown@formal@none@1@S@Also, SmithKline Beecham rose 1 3/8 to 39 1/2.@@@@1@9@@oe@2-2-2013
20345025@unknown@formal@none@1@S@An advisory committee of the Food and Drug Administration recommended that the agency approve Eminase, the company's heart drug.@@@@1@19@@oe@2-2-2013
20345026@unknown@formal@none@1@S@Two rumored restructuring candidates in the oil industry moved higher: Chevron, which rose 1 3/4 to 68 1/4 on 3.5 million shares, and USX, which gained 1 1/4 to 34 5/8.@@@@1@31@@oe@2-2-2013
20345027@unknown@formal@none@1@S@Pennzoil is rumored to be accumulating a stake in Chevron in order to push for a revamping of the company; investor Carl Icahn has recently increased his stake in USX, which separately reported earnings that were in line with expectations.@@@@1@40@@oe@2-2-2013
20345028@unknown@formal@none@1@S@Paramount Communications, which completed the $3.35 billion sale of its Associates Corp. financial-services unit to Ford Motor, gained 1 1/8 to 55 7/8 after losing one point Monday amid rumors of a delay.@@@@1@33@@oe@2-2-2013
20345029@unknown@formal@none@1@S@The company said the sale would produce a $1.2 billion gain in the fourth quarter.@@@@1@15@@oe@2-2-2013
20345030@unknown@formal@none@1@S@BankAmerica climbed 1 3/4 to 30 after PaineWebber boosted its investment opinion on the stock to its highest rating.@@@@1@19@@oe@2-2-2013
20345031@unknown@formal@none@1@S@The upgrade reflected the 20% decline in shares of the bank since the firm lowered its rating in early October, based on the belief the stock had become expensive.@@@@1@29@@oe@2-2-2013
20345032@unknown@formal@none@1@S@Sea Containers, which unveiled a proposed restructuring, advanced 1 to 62.@@@@1@11@@oe@2-2-2013
20345033@unknown@formal@none@1@S@The company said it would repurchase half of its common shares at $70 each, sell an estimated $1.1 billion in assets and pay a special preferred-stock dividend to common-stock holders.@@@@1@30@@oe@2-2-2013
20345034@unknown@formal@none@1@S@Shaw Industries, which agreed to acquire Armstrong World Industries' carpet operations for an undisclosed price, rose 2 1/4 to 26 1/8.@@@@1@21@@oe@2-2-2013
20345035@unknown@formal@none@1@S@Armstrong added 1/8 to 39 1/8.@@@@1@6@@oe@2-2-2013
20345036@unknown@formal@none@1@S@ERC Corp. rose 7/8 to 12.@@@@1@6@@oe@2-2-2013
20345037@unknown@formal@none@1@S@The company agreed definitively to be acquired by Ogden Corp. in a stock swap valued at about $82.5 million.@@@@1@19@@oe@2-2-2013
20345038@unknown@formal@none@1@S@Ogden gained 1 1/4 to 32 7/8.@@@@1@7@@oe@2-2-2013
20345039@unknown@formal@none@1@S@Ocean Drilling & Research dropped 1 1/4 to 21 1/2 following news of a restructuring plan that calls for the company to reorganize its drilling business into a separate company and offer a 15% to 20% stake to the public.@@@@1@40@@oe@2-2-2013
20345040@unknown@formal@none@1@S@The American Stock Exchange Market Value Index rose 1.71 to 370.58.@@@@1@11@@oe@2-2-2013
20345041@unknown@formal@none@1@S@Volume totaled 11,820,000 shares.@@@@1@4@@oe@2-2-2013
20345042@unknown@formal@none@1@S@Imperial Holly fell 1 5/8 to 27 1/8 in the wake of its third-quarter earnings report.@@@@1@16@@oe@2-2-2013
20345043@unknown@formal@none@1@S@Net income was down from a year ago, when a gain from the restructuring of a retirement plan boosted earnigs.@@@@1@20@@oe@2-2-2013
20346001@unknown@formal@none@1@S@Cilcorp Inc., Peoria, Ill., said it agreed to acquire the environmental consulting and analytical service businesses of Hunter Environmental Services Inc. of Southport, Conn.@@@@1@24@@oe@2-2-2013
20346002@unknown@formal@none@1@S@The utility holding company said Hunter will receive 390,000 shares of a new series of Cilcorp convertible preferred stock with a face value of $39 million for the businesses.@@@@1@29@@oe@2-2-2013
20346003@unknown@formal@none@1@S@Cilcorp will also assume $22 million of Hunter's existing debt.@@@@1@10@@oe@2-2-2013
20346004@unknown@formal@none@1@S@As part of the agreement, Cilcorp said it will pay Hunter $4 million in exchange for agreements not to compete.@@@@1@20@@oe@2-2-2013
20346005@unknown@formal@none@1@S@Cilcorp said the businesses to be acquired had revenue of $76 million for the year ended March 31.@@@@1@18@@oe@2-2-2013
20346006@unknown@formal@none@1@S@Separately, Cilcorp said it plans to purchase as many as 1.4 million shares, or 10% of its common stock outstanding from time to time on the open market and through privately negotiated transactions.@@@@1@33@@oe@2-2-2013
20346007@unknown@formal@none@1@S@The company, which currently has 13.5 million common shares outstanding, said it has no specific plans for the shares.@@@@1@19@@oe@2-2-2013
20347001@unknown@formal@none@1@S@BUSH AND GORBACHEV WILL HOLD two days of informal talks next month.@@@@1@12@@oe@2-2-2013
20347002@unknown@formal@none@1@S@The president said that he and the Kremlin leader would meet Dec. 2-3 aboard U.S. and Soviet naval vessels in the Mediterranean to discuss a wide range of issues without a formal agenda.@@@@1@33@@oe@2-2-2013
20347003@unknown@formal@none@1@S@A simultaneous announcement was made in Moscow.@@@@1@7@@oe@2-2-2013
20347004@unknown@formal@none@1@S@Bush said that neither he nor Gorbachev expected any "substantial decisions or agreements."@@@@1@13@@oe@2-2-2013
20347005@unknown@formal@none@1@S@The seaborne meetings won't disrupt plans for a formal summit next spring or summer, at which an arms-control treaty is likely to be completed.@@@@1@24@@oe@2-2-2013
20347006@unknown@formal@none@1@S@The two leaders are expected to discuss changes sweeping the East bloc as well as human-rights issues, regional disputes and economic cooperation.@@@@1@22@@oe@2-2-2013
20347007@unknown@formal@none@1@S@Israel's army lifted a blockade around a Palestinian town in the occupied West Bank, ending a 42-day campaign of seizing cars, furniture and other goods to crush a tax boycott.@@@@1@30@@oe@2-2-2013
20347008@unknown@formal@none@1@S@While residents claimed a victory, military authorities said they had confiscated the equivalent of more than $1.5 million to make up for the unpaid taxes.@@@@1@25@@oe@2-2-2013
20347009@unknown@formal@none@1@S@East German leader Krenz arrived in Moscow for talks today with Gorbachev on restructuring proposals.@@@@1@15@@oe@2-2-2013
20347010@unknown@formal@none@1@S@In East Berlin, Communist Party officials considered legalizing New Forum, the country's largest opposition alliance, as about 20,000 demonstrators staged protests in three cities to press demands for democratic freedoms.@@@@1@30@@oe@2-2-2013
20347011@unknown@formal@none@1@S@The House approved a permanent smoking ban on nearly all domestic airline routes as part of a $27.1 billion transportation bill that must still overcome budget obstacles in Congress.@@@@1@29@@oe@2-2-2013
20347012@unknown@formal@none@1@S@The chamber also sent to Bush a nearly $67 billion fiscal 1990 measure that includes the first construction funds for a space station.@@@@1@23@@oe@2-2-2013
20347013@unknown@formal@none@1@S@Nicaragua's Ortega postponed until today a decision on whether to end a 19-month-old cease-fire in the conflict with the Contra rebels.@@@@1@21@@oe@2-2-2013
20347014@unknown@formal@none@1@S@In Washington, the Senate voted to condemn Ortega's threat to cancel the truce, and Bush said he would review U.S. policy toward Managua, including the possibility of renewing military aid to the rebels.@@@@1@33@@oe@2-2-2013
20347015@unknown@formal@none@1@S@Chinese leader Deng told former President Nixon that the U.S. was deeply involved in "the turmoil and counterrevolutionary rebellion" that gripped Beijing last spring.@@@@1@24@@oe@2-2-2013
20347016@unknown@formal@none@1@S@Nixon, on the fourth day of a private visit to China, said that damage to Sino-U.S. relations was "very great," calling the situation "the most serious" since 1972.@@@@1@28@@oe@2-2-2013
20347017@unknown@formal@none@1@S@Afghanistan's troops broke through a guerrilla blockade on the strategic Salang Highway, allowing trucks carrying food and other necessities to reach Kabul after a missile attack on rebel strongholds.@@@@1@29@@oe@2-2-2013
20347018@unknown@formal@none@1@S@The convoy of about 100 vehicles was the first to make deliveries to the capital in about 10 days.@@@@1@19@@oe@2-2-2013
20347019@unknown@formal@none@1@S@Turkey's legislature elected Prime Minister Ozal as the country's first civilian president since 1960, opening the way for a change of government under a new premier he will select.@@@@1@29@@oe@2-2-2013
20347020@unknown@formal@none@1@S@The vote in Ankara was boycotted by opposition politicians, who vowed to oust Ozal.@@@@1@14@@oe@2-2-2013
20347021@unknown@formal@none@1@S@He begins his seven-year term Nov. 9, succeeding Kenan Evren.@@@@1@10@@oe@2-2-2013
20347022@unknown@formal@none@1@S@South Africa's government dismissed demands by right-wing Conservatives, the nation's main opposition party, for emergency talks on Pretoria's recent tolerance of dissent.@@@@1@22@@oe@2-2-2013
20347023@unknown@formal@none@1@S@The government also urged whites to refrain from panic over growing black protests, such as the massive anti-apartheid rally Sunday on the outskirts of Soweto.@@@@1@25@@oe@2-2-2013
20347024@unknown@formal@none@1@S@Researchers in Belgium said they have developed a genetic engineering technique for creating hybrid plants for a number of crops, such as cotton, soybeans and rice.@@@@1@26@@oe@2-2-2013
20347025@unknown@formal@none@1@S@The scientists at Plant Genetic Systems N.V. isolated a gene that could lead to a generation of plants possessing a high-production trait.@@@@1@22@@oe@2-2-2013
20347026@unknown@formal@none@1@S@A bomb exploded at a leftist union hall in San Salvador, killing at least eight people and injuring about 30 others, including two Americans, authorities said.@@@@1@26@@oe@2-2-2013
20347027@unknown@formal@none@1@S@The blast, which wrecked the opposition labor group's offices, was the latest in a series of attacks in El Salvador's 10-year-old civil war.@@@@1@23@@oe@2-2-2013
20347028@unknown@formal@none@1@S@Hungary's Parliament voted to hold a national referendum on an election to fill the new post of president.@@@@1@18@@oe@2-2-2013
20347029@unknown@formal@none@1@S@The balloting to decide when and how to fill the position, which replaces a collective presidency under a pact signed by the ruling Socialists and opposition groups, is to be held Nov.@@@@1@32@@oe@2-2-2013
20347030@unknown@formal@none@1@S@The State Department denied asylum to a Vietnamese man who escaped from his homeland by lashing himself to the rudder housing of a tanker for two days in monsoon seas.@@@@1@30@@oe@2-2-2013
20347031@unknown@formal@none@1@S@A spokesman for Democratic Sen. Pell of Rhode Island said, however, that the Immigration and Naturalization Service would review the stowaway's request.@@@@1@22@@oe@2-2-2013
20348001@unknown@formal@none@1@S@Ogden Projects Inc. said net income jumped to $6.6 million, or 18 cents a share, in the third quarter.@@@@1@19@@oe@2-2-2013
20348002@unknown@formal@none@1@S@The Fairfield, N.J., company, which is 92%-owned by Ogden Corp., New York, had net of $1.1 million, or four cents a share, a year ago.@@@@1@25@@oe@2-2-2013
20348003@unknown@formal@none@1@S@Revenue soared to $101.7 million from $39.5 million.@@@@1@8@@oe@2-2-2013
20348004@unknown@formal@none@1@S@Ogden Projects, whose shares began trading on the New York Stock Exchange in August, closed yesterday at $26.875, down 75 cents.@@@@1@21@@oe@2-2-2013
20348005@unknown@formal@none@1@S@The stock began trading this summer at $14 apiece.@@@@1@9@@oe@2-2-2013
20348006@unknown@formal@none@1@S@Ogden Projects, which has interests in solid-waste recovery and hazardous-waste cleanup, said it has 13 facilities in operation, up from seven a year ago.@@@@1@24@@oe@2-2-2013
20348007@unknown@formal@none@1@S@Meanwhile, Ogden Corp., which also has interests in building maintenance and management, reported third-quarter net income of $27.1 million, or 67 cents a share, more than twice the $13.5 million, or 34 cents a share, a year earlier.@@@@1@38@@oe@2-2-2013
20348008@unknown@formal@none@1@S@Revenue rose 33% to $378.1 million from $283.8 million.@@@@1@9@@oe@2-2-2013
20349001@unknown@formal@none@1@S@Under attack by its own listed companies and powerful floor traders, the New York Stock Exchange is considering reinstituting a "collar" on program trading that it abandoned last year, according to people familiar with the Big Board.@@@@1@37@@oe@2-2-2013
20349002@unknown@formal@none@1@S@The exchange also may step up its disclosure of firms engaged in program trading, these people said.@@@@1@17@@oe@2-2-2013
20349003@unknown@formal@none@1@S@Big Board officials wouldn't comment publicly.@@@@1@6@@oe@2-2-2013
20349004@unknown@formal@none@1@S@But in an interview in which he called the stock market's volatility a "national problem," Big Board Chairman John J. Phelan Jr. said, "We are going to try to do some things in the short intermediate term" to help the situation.@@@@1@41@@oe@2-2-2013
20349005@unknown@formal@none@1@S@Mr. Phelan has been viewed by many exchange members as being indifferent to stock-price swings caused by program trades.@@@@1@19@@oe@2-2-2013
20349006@unknown@formal@none@1@S@He said he is "very surprised" by the furor over program trading and the exchange's role in it that has raged in recent days.@@@@1@24@@oe@2-2-2013
20349007@unknown@formal@none@1@S@Mr. Phelan said that the Big Board has been trying to deal quietly with the issue, but that banning computer-assisted trading strategies entirely, as some investors want, would be like "taking everybody out of an automobile and making them ride a horse."@@@@1@42@@oe@2-2-2013
20349008@unknown@formal@none@1@S@The exchange has a board meeting scheduled for tomorrow, and it is expected that some public announcement could be made after that.@@@@1@22@@oe@2-2-2013
20349009@unknown@formal@none@1@S@Big Board officials have been under seige from both investors and the exchange's own floor traders since the Dow Jones Industrial Average's 190-point tumble on Oct. 13.@@@@1@27@@oe@2-2-2013
20349010@unknown@formal@none@1@S@Mr. Phelan hasn't been making public remarks in recent days, and many people have urged him to take more of a leadership role on the program trading issue.@@@@1@28@@oe@2-2-2013
20349011@unknown@formal@none@1@S@What the Big Board is considering is re-establishing a "collar" on program trading when the market moves significantly.@@@@1@18@@oe@2-2-2013
20349012@unknown@formal@none@1@S@Early last year, after a 140-point, one-day drop in the Dow, the Big Board instituted the collar, which banned program trading through the Big Board's computers whenever the Dow moved 50 points up or down in a day.@@@@1@38@@oe@2-2-2013
20349013@unknown@formal@none@1@S@It didn't work.@@@@1@3@@oe@2-2-2013
20349014@unknown@formal@none@1@S@"The collar was penetrated on a number of occasions," meaning securities firms figured out ways to conduct program trades to circumvent the collar and use the Big Board's electronic trading system, Mr. Phelan said.@@@@1@34@@oe@2-2-2013
20349015@unknown@formal@none@1@S@That was when the exchange took a new tack by publishing monthly statistics listing the top 15 program trading firms.@@@@1@20@@oe@2-2-2013
20349016@unknown@formal@none@1@S@Exchange officials emphasized that the Big Board is considering a variety of actions to deal with program trading.@@@@1@18@@oe@2-2-2013
20349017@unknown@formal@none@1@S@People familiar with the exchange said another idea likely to be approved is expanding the monthly reports on program trading to cover specific days or even hours of heavy program trading and who was doing it.@@@@1@36@@oe@2-2-2013
20349018@unknown@formal@none@1@S@Meanwhile, another big Wall Street brokerage firm joined others that have been pulling back from program trading.@@@@1@17@@oe@2-2-2013
20349019@unknown@formal@none@1@S@American Express Co.'s Shearson Lehman Hutton Inc. unit said it ceased all index-arbitrage program trading for client accounts.@@@@1@18@@oe@2-2-2013
20349020@unknown@formal@none@1@S@In stock-index arbitrage, traders buy and sell large amounts of stock with offsetting trades in stock-index futures to profit from fleeting price discrepancies between the two markets.@@@@1@27@@oe@2-2-2013
20349021@unknown@formal@none@1@S@Shearson, which in September was the 11th-biggest program trader on the Big Board, had already suspended stock-index arbitrage for its own account.@@@@1@22@@oe@2-2-2013
20349022@unknown@formal@none@1@S@Also, CS First Boston Inc.'s First Boston Corp. unit, the fifth-biggest program trader in September, is "preparing a response" to the program-trading outcry, officials of the firm said.@@@@1@28@@oe@2-2-2013
20349023@unknown@formal@none@1@S@First Boston is one of the few major Wall Street firms that haven't pulled back from program trading in recent days.@@@@1@21@@oe@2-2-2013
20349024@unknown@formal@none@1@S@Mr. Phelan is an adroit diplomat who normally appears to be solidly in control of the Big Board's factions.@@@@1@19@@oe@2-2-2013
20349025@unknown@formal@none@1@S@But he has been getting heat from all sides over program trading.@@@@1@12@@oe@2-2-2013
20349026@unknown@formal@none@1@S@Mr. Phelan's recent remarks that investors simply must get used to the stock-market volatility from program trading have drawn criticism from both the exchange's stock specialists, who make markets in individual stocks, and from many companies that have shares listed on the Big Board.@@@@1@44@@oe@2-2-2013
20349027@unknown@formal@none@1@S@Mr. Phelan said that his predicting continued volatility is just "how the world is.@@@@1@14@@oe@2-2-2013
20349028@unknown@formal@none@1@S@If bringing the message is a crime, I'm guilty of it."@@@@1@11@@oe@2-2-2013
20349029@unknown@formal@none@1@S@But he said this doesn't mean he is satisfied with the market's big swings.@@@@1@14@@oe@2-2-2013
20349030@unknown@formal@none@1@S@"We're trying to take care of a heck of a lot of constituents," Mr. Phelan said.@@@@1@16@@oe@2-2-2013
20349031@unknown@formal@none@1@S@"Each one has a different agenda."@@@@1@6@@oe@2-2-2013
20349032@unknown@formal@none@1@S@For example, in a special meeting Monday with Mr. Phelan, senior officials of some of the Big Board's 49 stock specialist firms complained that the exchange is no longer representing their interests.@@@@1@32@@oe@2-2-2013
20349033@unknown@formal@none@1@S@"We are looking for representation we haven't had," a specialist said.@@@@1@11@@oe@2-2-2013
20349034@unknown@formal@none@1@S@"We've had dictation."@@@@1@3@@oe@2-2-2013
20349035@unknown@formal@none@1@S@After another session Mr. Phelan held yesterday with major brokerage firms such as Morgan Stanley & Co., Goldman, Sachs & Co., PaineWebber Group Inc. and First Boston -- all of which have engaged in program trading -- an executive of a top brokerage firm said, "Clearly, the firms want the exchange to take leadership."@@@@1@54@@oe@2-2-2013
20349036@unknown@formal@none@1@S@Many specialist firms resent the Big Board's new "basket" product that allows institutions to buy or sell all stocks in the Standard & Poor's 500-stock index in one shot.@@@@1@29@@oe@2-2-2013
20349037@unknown@formal@none@1@S@Ultimately, the specialists view this as yet another step toward electronic trading that could eventually destroy their franchise.@@@@1@18@@oe@2-2-2013
20349038@unknown@formal@none@1@S@"His {Phelan's} own interests are in building an electronic marketplace," said a market maker.@@@@1@14@@oe@2-2-2013
20349039@unknown@formal@none@1@S@The basket product, while it has got off to a slow start, is being supported by some big brokerage firms -- another member of Mr. Phelan's splintered constituency.@@@@1@28@@oe@2-2-2013
20349040@unknown@formal@none@1@S@Mr. Phelan has had difficulty convincing the public that the Big Board is serious about curbing volatility, especially as the exchange clearly relishes its role as the home for $200 billion in stock-index funds, which buy huge baskets of stocks to mimic popular stock-market indexes like the Standard & Poor's 500, and which sometimes employ program trading.@@@@1@57@@oe@2-2-2013
20349041@unknown@formal@none@1@S@The Big Board wants to keep such index funds from fleeing to overseas markets, but only as long as it "handles it intelligently," Mr. Phelan said.@@@@1@26@@oe@2-2-2013
20349042@unknown@formal@none@1@S@Despite what some investors are suggesting, the Big Board isn't even considering a total ban on program trading or stock futures, exchange officials said.@@@@1@24@@oe@2-2-2013
20349043@unknown@formal@none@1@S@Most revisions it will propose will be geared toward slowing down program trading during stressful periods, said officials working with the exchange.@@@@1@22@@oe@2-2-2013
20349044@unknown@formal@none@1@S@Computers have made trading more rapid, but that can be fixed with some fine-tuning.@@@@1@14@@oe@2-2-2013
20349045@unknown@formal@none@1@S@"I think if you {can} speed things up, you can slow them down," Mr. Phelan said.@@@@1@16@@oe@2-2-2013
20349046@unknown@formal@none@1@S@"That's different than wrecking them."@@@@1@5@@oe@2-2-2013
20349047@unknown@formal@none@1@S@While volatility won't go away, he said, "Volatility is greater than program trading.@@@@1@13@@oe@2-2-2013
20349048@unknown@formal@none@1@S@What I'm trying to say to people is, it's proper to worry about program trading, but it's only a piece of the business."@@@@1@23@@oe@2-2-2013
20349049@unknown@formal@none@1@S@For example, Mr. Phelan said that big institutions have so much control over public investments that they can cause big swings in the market, regardless of index arbitrage.@@@@1@28@@oe@2-2-2013
20349050@unknown@formal@none@1@S@"A lot of people would like to go back to 1970," before program trading, he said.@@@@1@16@@oe@2-2-2013
20349051@unknown@formal@none@1@S@"I would like to go back to 1970.@@@@1@8@@oe@2-2-2013
20349052@unknown@formal@none@1@S@But we're not going back to 1970."@@@@1@7@@oe@2-2-2013
20349053@unknown@formal@none@1@S@Indeed, Mr. Phelan said that if stock-market volatility persists, the U.S. may lose its edge as being the best place to raise capital.@@@@1@23@@oe@2-2-2013
20349054@unknown@formal@none@1@S@"Japan's markets are more stable," he said.@@@@1@7@@oe@2-2-2013
20349055@unknown@formal@none@1@S@"If that continues, a significant number of {U.S.} companies will go over there to raise money."@@@@1@16@@oe@2-2-2013
20349056@unknown@formal@none@1@S@In coming days, when the Big Board formulates its responses to the program-trading problem, Mr. Phelan may take a more public role in the issue.@@@@1@25@@oe@2-2-2013
20349057@unknown@formal@none@1@S@Lewis L. Glucksman, vice chairman of Smith Barney, Harris Upham & Co., said: "This is a problem that's taking on a life of its own.@@@@1@25@@oe@2-2-2013
20349058@unknown@formal@none@1@S@The program trading situation seems to have driven individual investors as well as others out of the market, and even Europeans are suspicious.@@@@1@23@@oe@2-2-2013
20349059@unknown@formal@none@1@S@The exchange should take a pro-active position."@@@@1@7@@oe@2-2-2013
20349060@unknown@formal@none@1@S@For now, however, Mr. Phelan said: "I refuse to get out there and tell everybody everything is hunky-dory.@@@@1@18@@oe@2-2-2013
20349061@unknown@formal@none@1@S@We have a major problem, and that problem is volatility."@@@@1@10@@oe@2-2-2013
20349062@unknown@formal@none@1@S@Craig Torres contributed to this article.@@@@1@6@@oe@2-2-2013
20350001@unknown@formal@none@1@S@A NEW MINIMUM-WAGE PLAN has been worked out by Congress and Bush, opening the way for the first increase in over nine years.@@@@1@23@@oe@2-2-2013
20350002@unknown@formal@none@1@S@The compromise proposal, ending a long impasse between Democrats and the president, would boost the minimum wage to $4.25 an hour by April 1991 from $3.35 now.@@@@1@27@@oe@2-2-2013
20350003@unknown@formal@none@1@S@The legislation also includes a lower "training wage" for new workers who are teen-agers.@@@@1@14@@oe@2-2-2013
20350004@unknown@formal@none@1@S@The Big Board is considering reviving a curb on program trading when the market is volatile.@@@@1@16@@oe@2-2-2013
20350005@unknown@formal@none@1@S@The exchange, which abandoned such a "collar" last year because it didn't prevent sharp price swings, has been under attack recently for not taking action against program trading.@@@@1@28@@oe@2-2-2013
20350006@unknown@formal@none@1@S@Great Northern Nekoosa reacted coolly to Georgia-Pacific's takeover bid of $58 a share, or $3.19 billion, though the suitor said all terms are negotiable.@@@@1@24@@oe@2-2-2013
20350007@unknown@formal@none@1@S@Great Northern's stock soared $20.125, to $62.875, on speculation that a higher bid would emerge.@@@@1@15@@oe@2-2-2013
20350008@unknown@formal@none@1@S@Stock prices rallied as the Georgia-Pacific bid broke the market's recent gloom.@@@@1@12@@oe@2-2-2013
20350009@unknown@formal@none@1@S@The Dow Jones industrials finished up 41.60, at 2645.08.@@@@1@9@@oe@2-2-2013
20350010@unknown@formal@none@1@S@The dollar and bond prices also closed higher.@@@@1@8@@oe@2-2-2013
20350011@unknown@formal@none@1@S@Leading indicators rose a slight 0.2% in September, a further indication the economy is slowing but without any clear sign of whether a recession looms.@@@@1@25@@oe@2-2-2013
20350012@unknown@formal@none@1@S@Meanwhile, new-home sales plunged 14% in the month.@@@@1@8@@oe@2-2-2013
20350013@unknown@formal@none@1@S@Labor costs climbed 1.2% in private industry during the third quarter, matching the second-quarter rise.@@@@1@15@@oe@2-2-2013
20350014@unknown@formal@none@1@S@Health-insurance costs soared.@@@@1@3@@oe@2-2-2013
20350015@unknown@formal@none@1@S@Time Warner and Sony could end up becoming partners in several business ventures as part of a settlement of their dispute over Hollywood producers Peter Guber and Jon Peters.@@@@1@29@@oe@2-2-2013
20350016@unknown@formal@none@1@S@A bidding war for Jaguar became more likely as Britain unexpectedly decided to end restrictions blocking a takeover of the luxury car maker.@@@@1@23@@oe@2-2-2013
20350017@unknown@formal@none@1@S@Sea Containers plans to sell $1.1 billion of assets and use some of the proceeds to buy about 50% of its common shares for $70 each.@@@@1@26@@oe@2-2-2013
20350018@unknown@formal@none@1@S@The company is trying to fend off a hostile bid by two European shipping firms.@@@@1@15@@oe@2-2-2013
20350019@unknown@formal@none@1@S@Eastern Airlines pilots were awarded between $60 million and $100 million in back pay by an arbitrator, a decision that could complicate the carrier's bankruptcy reorganization.@@@@1@26@@oe@2-2-2013
20350020@unknown@formal@none@1@S@LTV Steel is boosting prices of flat rolled steel products an average 3%, but it's unclear whether the increases, set for Jan. 1, 1990, will stick.@@@@1@26@@oe@2-2-2013
20350021@unknown@formal@none@1@S@Southern's Gulf Power unit paid $500,000 in fines after pleading guilty to conspiracy to make illegal political contributions and tax evasion.@@@@1@21@@oe@2-2-2013
20350022@unknown@formal@none@1@S@More big Japanese investors are buying U.S. mortgage-backed securities, reversing a recent trend.@@@@1@13@@oe@2-2-2013
20350023@unknown@formal@none@1@S@USX's profit dropped 23% in the third quarter as improved oil results failed to offset weakness in the firm's steel and natural gas operations.@@@@1@24@@oe@2-2-2013
20350024@unknown@formal@none@1@S@Miniscribe reported a negative net worth and hinted it may file for Chapter 11.@@@@1@14@@oe@2-2-2013
20350025@unknown@formal@none@1@S@The disk-drive maker disclosed a major fraud two months ago.@@@@1@10@@oe@2-2-2013
20350026@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
20350027@unknown@formal@none@1@S@Stocks: Volume 176,100,000 shares.@@@@1@4@@oe@2-2-2013
20350028@unknown@formal@none@1@S@Dow Jones industrials 2645.08, up 41.60; transportation 1205.01, up 13.15; utilities 219.19, up 2.45.@@@@1@14@@oe@2-2-2013
20350029@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3426.33, up@@@@1@8@@oe@2-2-2013
20350030@unknown@formal@none@1@S@Commodities: Dow Jones futures index 129.63, up 0.25; spot index 129.84, off 0.25.@@@@1@13@@oe@2-2-2013
20350031@unknown@formal@none@1@S@Dollar: 142.85 yen, up 0.95; 1.8415 marks, up 0.0075.@@@@1@9@@oe@2-2-2013
20351001@unknown@formal@none@1@S@Bond prices staggered in seesaw trading, rising on reports of economic weakness and falling on reports of economic strength.@@@@1@19@@oe@2-2-2013
20351002@unknown@formal@none@1@S@Treasury bonds got off to a strong start, advancing modestly during overnight trading on foreign markets.@@@@1@16@@oe@2-2-2013
20351003@unknown@formal@none@1@S@"We saw good buying in Japan and excellent buying in London," said Jay Goldinger, market strategist and trader at Capital Insight Inc., Beverly Hills, Calif.@@@@1@25@@oe@2-2-2013
20351004@unknown@formal@none@1@S@The market's tempo was helped by the dollar's resiliency, he said.@@@@1@11@@oe@2-2-2013
20351005@unknown@formal@none@1@S@Late in London, the dollar was quoted at 1.8410 West German marks and 142.70 Japanese yen, up from late Monday in New York.@@@@1@23@@oe@2-2-2013
20351006@unknown@formal@none@1@S@British sterling eased to $1.5775 from $1.5825.@@@@1@7@@oe@2-2-2013
20351007@unknown@formal@none@1@S@When U.S. trading began, Treasury bonds received an additional boost from news that sales of new single-family homes fell 14% in September.@@@@1@22@@oe@2-2-2013
20351008@unknown@formal@none@1@S@The contraction was twice as large as economists projected and was the sharpest decline since a 19% drop in January 1982.@@@@1@21@@oe@2-2-2013
20351009@unknown@formal@none@1@S@Economists said the report raised speculation that the economic slowdown could turn into a recession, which would pave the way for the Federal Reserve to lower interest rates.@@@@1@28@@oe@2-2-2013
20351010@unknown@formal@none@1@S@But later in the day, a report by the Purchasing Management Association of Chicago cast doubt on the recession scenario.@@@@1@20@@oe@2-2-2013
20351011@unknown@formal@none@1@S@The association said its October index of economic activity rose to 51.6% after having been below 50% for three consecutive months.@@@@1@21@@oe@2-2-2013
20351012@unknown@formal@none@1@S@A reading below 50% indicates that the manufacturing industry is slowing while a reading above 50% suggests that the industry is expanding.@@@@1@22@@oe@2-2-2013
20351013@unknown@formal@none@1@S@Bond prices fell after the Chicago report was released.@@@@1@9@@oe@2-2-2013
20351014@unknown@formal@none@1@S@By the end of the day, bond prices were mixed.@@@@1@10@@oe@2-2-2013
20351015@unknown@formal@none@1@S@The benchmark 30-year bond was nearly 1/4 point higher, or up about $2.50 for each $1,000 face amount.@@@@1@18@@oe@2-2-2013
20351016@unknown@formal@none@1@S@New two-year notes ended unchanged while three-year and four-year notes were slightly lower.@@@@1@13@@oe@2-2-2013
20351017@unknown@formal@none@1@S@Municipal bonds ended unchanged to as much as 1/2 point higher while mortgage-backed securities were up about 1/8 point.@@@@1@19@@oe@2-2-2013
20351018@unknown@formal@none@1@S@Corporate bonds were unchanged.@@@@1@4@@oe@2-2-2013
20351019@unknown@formal@none@1@S@In the corporate market, an expected debt offering today by International Business Machines Corp. generated considerable attention.@@@@1@17@@oe@2-2-2013
20351020@unknown@formal@none@1@S@The giant computer maker is slated to offer $500 million of 30-year non-callable debentures through underwriters led by Salomon Brothers Inc.@@@@1@21@@oe@2-2-2013
20351021@unknown@formal@none@1@S@Traders expect the bonds to yield about 0.60 to 0.65 percentage point above the Treasury's benchmark 30-year bond, which ended Tuesday with a yield of about 7.90%.@@@@1@27@@oe@2-2-2013
20351022@unknown@formal@none@1@S@The last time IBM tapped the corporate debt market was in April 1988, when it offered $500 million of debt securities.@@@@1@21@@oe@2-2-2013
20351023@unknown@formal@none@1@S@IBM's visits to the debt market are closely watched by treasurers at other corporations and by credit market analysts.@@@@1@19@@oe@2-2-2013
20351024@unknown@formal@none@1@S@Some analysts believe the company has the ability to pinpoint the trough in interest-rate cycles.@@@@1@15@@oe@2-2-2013
20351025@unknown@formal@none@1@S@In October 1979, just days before the Federal Reserve raised interest rates, IBM offered $1 billion in debt securities.@@@@1@19@@oe@2-2-2013
20351026@unknown@formal@none@1@S@The boost in rates sent IBM's bonds tumbling, leaving underwriters with millions of dollars of losses and triggering a sell-off in the overall market.@@@@1@24@@oe@2-2-2013
20351027@unknown@formal@none@1@S@The company "can't be bullish if they're doing a sizable 30-year bullet," said one analyst.@@@@1@15@@oe@2-2-2013
20351028@unknown@formal@none@1@S@Others said IBM might increase the size of the offering to as much as $1 billion if investor demand is strong.@@@@1@21@@oe@2-2-2013
20351029@unknown@formal@none@1@S@The company has $1 billion in debt filed with the Securities and Exchange Commission.@@@@1@14@@oe@2-2-2013
20351030@unknown@formal@none@1@S@"I think the $500 million is a little bit of a fire drill," said Jim Ednee, head of the industrial bond department at Drexel Burnham Lambert Inc.@@@@1@27@@oe@2-2-2013
20351031@unknown@formal@none@1@S@"I think as the pricing time arrives, the bonds will come a little richer and in a larger amount."@@@@1@19@@oe@2-2-2013
20351032@unknown@formal@none@1@S@Treasury Securities@@@@1@2@@oe@2-2-2013
20351033@unknown@formal@none@1@S@Treasury prices ended mixed in light trading.@@@@1@7@@oe@2-2-2013
20351034@unknown@formal@none@1@S@The benchmark 30-year bond was quoted late at 102 12/32 to yield 7.90% compared with 102 7/32 to yield 7.92% Monday.@@@@1@21@@oe@2-2-2013
20351035@unknown@formal@none@1@S@The latest 10-year notes were unchanged at 100 16/32 to yield 7.904%.@@@@1@12@@oe@2-2-2013
20351036@unknown@formal@none@1@S@Short-term rates also were mixed.@@@@1@5@@oe@2-2-2013
20351037@unknown@formal@none@1@S@The discount rate on three-month Treasury bills rose slightly from the average rate at Monday's auction to 7.79% for a bond-equivalent yield of 8.04%.@@@@1@24@@oe@2-2-2013
20351038@unknown@formal@none@1@S@The discount rate on six-month Treasury bills fell slightly to 7.60% for a bond-equivalent yield of 7.99%.@@@@1@17@@oe@2-2-2013
20351039@unknown@formal@none@1@S@Corporate Issues@@@@1@2@@oe@2-2-2013
20351040@unknown@formal@none@1@S@Two junk bond issues were priced yesterday, including a scaled-backed offering by Beatrice Co.@@@@1@14@@oe@2-2-2013
20351041@unknown@formal@none@1@S@A spokesman for underwriters Salomon Brothers Inc. said Beatrice cut its high-yield offering to $251 million from a planned $350 million after it became clear the company would have to give investors higher yields.@@@@1@34@@oe@2-2-2013
20351042@unknown@formal@none@1@S@In the two-part offering, $151 million of senior subordinated reset notes were priced at 99.75 and carried a rate of 13 3/4%, while the $100 million of senior subordinated floating rate notes were priced to float at 4.25 percentage points above the London Interbank Offered Rate, or LIBOR.@@@@1@48@@oe@2-2-2013
20351043@unknown@formal@none@1@S@The one-year LIBOR rate yesterday was 8 7/16%.@@@@1@8@@oe@2-2-2013
20351044@unknown@formal@none@1@S@Since the recent deterioration of the junk-bond market, at least two other junk issuers have said they plan to scale back planned high-yield offerings, and several issues have been postponed.@@@@1@30@@oe@2-2-2013
20351045@unknown@formal@none@1@S@William Carmichael, Beatrice chief financial officer, said favorable market conditions in September prompted the company to plan more debt than necessary.@@@@1@21@@oe@2-2-2013
20351046@unknown@formal@none@1@S@"However, given the changes in the market conditions that have occurred since then, we decided to sell only the amount needed to proceed with our contemplated recapitalization," he said.@@@@1@29@@oe@2-2-2013
20351047@unknown@formal@none@1@S@Under the firm's original bank credit agreement, it was required to raise $250 million of subordinated debt to be used to repay some of the bank borrowings drawn to redeem $526.3 million of increasing rate debentures in August.@@@@1@38@@oe@2-2-2013
20351048@unknown@formal@none@1@S@A month ago, when Beatrice first filed to sell debt, the company had planned to offer $200 million of its senior subordinated reset notes at a yield of 12 3/4%.@@@@1@30@@oe@2-2-2013
20351049@unknown@formal@none@1@S@The $150 million in senior subordinated floating-rate notes were targeted to be offered at a price to float four percentage points above the three-month LIBOR.@@@@1@25@@oe@2-2-2013
20351050@unknown@formal@none@1@S@By October, however, market conditions had deteriorated and the reset notes were targeted to be offered at a yield of between 13 1/4% and 13 1/2%.@@@@1@26@@oe@2-2-2013
20351051@unknown@formal@none@1@S@Mr. Carmichael said investors also demanded stricter convenants.@@@@1@8@@oe@2-2-2013
20351052@unknown@formal@none@1@S@Continental Cablevision Inc., via underwriters at Morgan Stanley & Co., priced $350 million of junk bonds at par to yield 12 7/8%.@@@@1@22@@oe@2-2-2013
20351053@unknown@formal@none@1@S@Mortgage-Backed Securities@@@@1@2@@oe@2-2-2013
20351054@unknown@formal@none@1@S@J.C. Penney & Co. issued $350 million of securities backed by credit-card receivables.@@@@1@13@@oe@2-2-2013
20351055@unknown@formal@none@1@S@The securities were priced at 99.1875 to yield about 9.19%.@@@@1@10@@oe@2-2-2013
20351056@unknown@formal@none@1@S@Underwriters at First Boston Corp. said the J.C. Penney credit-card securities are the first with a 10-year average life, which is much longer than previous such issues.@@@@1@27@@oe@2-2-2013
20351057@unknown@formal@none@1@S@Elsewhere, Ginnie Mae's 9% issue for November delivery was quoted at 98 18/32 bid, up 5/32 from late Monday, to yield about 9.333% to a 12-year average life assumption.@@@@1@29@@oe@2-2-2013
20351058@unknown@formal@none@1@S@Freddie Mac's 9 1/2% issue was quoted at 99 20/32, up 3/32 from Monday.@@@@1@14@@oe@2-2-2013
20351059@unknown@formal@none@1@S@Fannie Mae's 9% issue was at 98 7/32, up 1/8.@@@@1@10@@oe@2-2-2013
20351060@unknown@formal@none@1@S@On the pricing front, an 11-class issue of $500 million Federal Home Loan Mortgage Corp.@@@@1@15@@oe@2-2-2013
20351061@unknown@formal@none@1@S@Remic mortgage securities was launched by a Morgan Stanley group.@@@@1@10@@oe@2-2-2013
20351062@unknown@formal@none@1@S@The offering is backed by Freddie Mac's 10% issue with a weighted average term to maturity of 29.583 months.@@@@1@19@@oe@2-2-2013
20351063@unknown@formal@none@1@S@Municipal Issues@@@@1@2@@oe@2-2-2013
20351064@unknown@formal@none@1@S@Municipal bonds were little changed to 1/2 point higher in late dealings.@@@@1@12@@oe@2-2-2013
20351065@unknown@formal@none@1@S@"We were oversold and today we bounced back.@@@@1@8@@oe@2-2-2013
20351066@unknown@formal@none@1@S@Some accounts came in for some blocks in the secondary {market}, which we haven't seen for a while," said one trader.@@@@1@21@@oe@2-2-2013
20351067@unknown@formal@none@1@S@"There were no {sell} lists and the calendar is lightening up a bit.@@@@1@13@@oe@2-2-2013
20351068@unknown@formal@none@1@S@There's light at the end of the tunnel for municipals," he said, adding that he expects prices to "inch up" in the near term.@@@@1@24@@oe@2-2-2013
20351069@unknown@formal@none@1@S@The market's tone improved after Monday's pricing of $813 million New York City general obligation bonds.@@@@1@16@@oe@2-2-2013
20351070@unknown@formal@none@1@S@The issue's smooth absorption eased fears that supply would overwhelm demand in coming sessions, traders said.@@@@1@16@@oe@2-2-2013
20351071@unknown@formal@none@1@S@Demand for the bonds was strong enough to permit underwriters to trim some yields in the tax-exempt portion of the offering late Monday.@@@@1@23@@oe@2-2-2013
20351072@unknown@formal@none@1@S@A two-part $75.1 million offering of wastewater treatment bonds by the New Jersey Wastewater Treatment Trust was more than half sold by late in the session, according to lead underwriter Merrill Lynch Capital Markets.@@@@1@34@@oe@2-2-2013
20351073@unknown@formal@none@1@S@The debt was reoffered priced to yield from 6% in 1991 to 7.15% in 2008-2009.@@@@1@15@@oe@2-2-2013
20351074@unknown@formal@none@1@S@Foreign Bonds@@@@1@2@@oe@2-2-2013
20351075@unknown@formal@none@1@S@Most foreign government bonds markets were quiet.@@@@1@7@@oe@2-2-2013
20351076@unknown@formal@none@1@S@West German bonds firmed a bit after Monday's fall, but traders said the market remains bearish due to speculation that interest rates could rise again.@@@@1@25@@oe@2-2-2013
20351077@unknown@formal@none@1@S@In a speech given Friday but released late Monday, Bundesbank Vice President Helmut Schlesinger suggested that it was risky to claim that the booming German economy has reached the peak of its cycle.@@@@1@33@@oe@2-2-2013
20351078@unknown@formal@none@1@S@His comments were interpreted as a sign that higher interest rates are possible.@@@@1@13@@oe@2-2-2013
20351079@unknown@formal@none@1@S@On Oct. 5, the Bundesbank raised the Lombard and discount rates by one percentage point to 8% and 6%, respectively, the highest levels in seven years.@@@@1@26@@oe@2-2-2013
20351080@unknown@formal@none@1@S@Germany's 7% bond due October 1999 was unchanged at 99.35 to yield 7.09% while the 6 3/4% notes due July 1994 rose 0.025 point to 97.275 to yield 7.445%.@@@@1@29@@oe@2-2-2013
20351081@unknown@formal@none@1@S@Japanese government bonds showed little change.@@@@1@6@@oe@2-2-2013
20351082@unknown@formal@none@1@S@Japan's benchmark No. 111 issue due 1998 ended on brokers' screens at 95.90, down 0.02 point, to yield 5.435%.@@@@1@19@@oe@2-2-2013
20351083@unknown@formal@none@1@S@British government bonds were little changed as investors awaited an address on economic policy by John Major, the new Chancellor of the Exchequer.@@@@1@23@@oe@2-2-2013
20351084@unknown@formal@none@1@S@Britain's benchmark 11 3/4% bond due 2003/2007 rose 2/32 to 111 1/2 to yield 10.14% while the 11 3/4% notes due 1991 were unchanged at 98 21/32 to yield 12.95%.@@@@1@30@@oe@2-2-2013
20352001@unknown@formal@none@1@S@Paramount Communications Inc. said it sold two Simon & Schuster information services units to Macmillan Inc., a subsidiary of Maxwell Communication Corp.@@@@1@22@@oe@2-2-2013
20352002@unknown@formal@none@1@S@The two units are Prentice Hall Information Services, which publishes tax, financial planning and business law information, among other services, and Prentice Hall Information Network, which electronically delivers tax information.@@@@1@30@@oe@2-2-2013
20352003@unknown@formal@none@1@S@Terms weren't disclosed, but industry executives said the units were sold for $40 million.@@@@1@14@@oe@2-2-2013
20352004@unknown@formal@none@1@S@Arthur H. Rosenfeld, previously president of the Prentice Hall Tax and Professional Services division, was named president of the newly formed Macmillan Professional and Business Reference division.@@@@1@27@@oe@2-2-2013
20352005@unknown@formal@none@1@S@Simon & Schuster retains the Corporation Law looseleaf service, which will become part of its Prentice Hall Law & Business unit.@@@@1@21@@oe@2-2-2013
20353001@unknown@formal@none@1@S@A governing body of both the Financial Accounting Standards Board and the Governmental Accounting Standards Board voted to give the FASB jurisdiction over accounting standards for certain government-owned entities.@@@@1@29@@oe@2-2-2013
20353002@unknown@formal@none@1@S@The Financial Accounting Foundation voted 12-2 that FASB accounting rules supercede GASB rules in regard to utilities, hospitals, and colleges and universities owned by the government.@@@@1@26@@oe@2-2-2013
20353003@unknown@formal@none@1@S@GASB rules still apply for other government units.@@@@1@8@@oe@2-2-2013
20353004@unknown@formal@none@1@S@After the GASB was founded in 1984, 11 years after the FASB, the government-owned entities were supposed to follow FASB rules unless the GASB superceded them.@@@@1@26@@oe@2-2-2013
20353005@unknown@formal@none@1@S@The GASB had told governments they didn't have to follow FASB rules on depreciation, making it difficult for bond-rating agencies to compare private and state-owned schools, which compete in the public bond market.@@@@1@33@@oe@2-2-2013
20353006@unknown@formal@none@1@S@The foundation vote is effective for the affected government entities with fiscal years that begin starting next Jan. 1 and makes the financial results of the hospitals, colleges and schools easier to compare with for-profit businesses.@@@@1@36@@oe@2-2-2013
20353007@unknown@formal@none@1@S@But it may lead to separate financial reports based on different rules for the government entities under FASB rules and those still under GASB rules.@@@@1@25@@oe@2-2-2013
20353008@unknown@formal@none@1@S@"Managers of government entities are often more concerned with the political and legal structure and financial-report comparability with profit-making businesses isn't always as high a priority," a foundation spokesman said.@@@@1@30@@oe@2-2-2013
20354001@unknown@formal@none@1@S@Avery Inc. said it completed the sale of Uniroyal Chemical Holding Co. to a group led by management of Uniroyal Chemical Co., the unit's main business.@@@@1@26@@oe@2-2-2013
20354002@unknown@formal@none@1@S@It valued the transaction at $800 million.@@@@1@7@@oe@2-2-2013
20354003@unknown@formal@none@1@S@Avery, which continues to operate a coal company it expects to sell at a loss, said in proxy materials it intends to seek control of one or more companies.@@@@1@29@@oe@2-2-2013
20354004@unknown@formal@none@1@S@After fees and repayment of debt, Avery is left with about $24 million in cash and securities from the Uniroyal sale.@@@@1@21@@oe@2-2-2013
20354005@unknown@formal@none@1@S@Avery paid $750 million, including various legal and financing fees, to acquire Uniroyal Chemical, Middlebury, Conn., in 1986 -- a move that burdened Avery with debt.@@@@1@26@@oe@2-2-2013
20354006@unknown@formal@none@1@S@In over-the-counter trading, Avery shares were quoted yesterday at a bid price of 93.75 cents a share.@@@@1@17@@oe@2-2-2013
20354007@unknown@formal@none@1@S@According to Avery, for the year ended Sept. 30, 1988, Uniroyal Chemical had sales of $734.2 million and a net loss of $47.1 million.@@@@1@24@@oe@2-2-2013
20354008@unknown@formal@none@1@S@An Avery spokesman said that the loss was magnified by accounting adjustments and that the company's loss was smaller on a cash basis.@@@@1@23@@oe@2-2-2013
20354009@unknown@formal@none@1@S@Uniroyal has 2,600 employees and facilities in the U.S., Canada, Brazil, Italy and Taiwan.@@@@1@14@@oe@2-2-2013
20354010@unknown@formal@none@1@S@In a related development, Avery said it completed a recapitalization in which its controlling shareholders and top officers, Nelson Peltz and Peter W. May, surrendered warrants and preferred stock in exchange for a larger stake in Avery's common shares.@@@@1@39@@oe@2-2-2013
20354011@unknown@formal@none@1@S@On a fully diluted basis, the two raised their stake to 68% from 51%.@@@@1@14@@oe@2-2-2013
20354012@unknown@formal@none@1@S@In December 1988, Messrs. Peltz and May sold their stock in Triangle Industries Inc., a packaging company they controlled, to Pechiney Corp. of France.@@@@1@24@@oe@2-2-2013
20354013@unknown@formal@none@1@S@The executives had profited handsomely by building American National Can Co., Triangle's chief asset.@@@@1@14@@oe@2-2-2013
20354014@unknown@formal@none@1@S@In January 1989, the two men acquired the non-packaging assets of Triangle, including a controlling stake in Avery and, by extension, Uniroyal Chemical.@@@@1@23@@oe@2-2-2013
20354015@unknown@formal@none@1@S@In the August proxy material, Avery said that unless it sold Uniroyal, its ability to service debt would be hurt and Avery's shareholder value would "continue to erode."@@@@1@28@@oe@2-2-2013
20354016@unknown@formal@none@1@S@Until Avery makes an acquisition, Messrs. Peltz and May will waive their direct salaries and bonuses, the company said.@@@@1@19@@oe@2-2-2013
20354017@unknown@formal@none@1@S@For at least the next six months, however, Avery will continue to pay $200,000 a month for management services to a company controlled by Messrs. Peltz and May, according to the proxy material.@@@@1@33@@oe@2-2-2013
20355001@unknown@formal@none@1@S@Clarcor Inc. said a plan to sell its J.L. Clark Inc. subsidiary to a group headed by Anderson Industries Inc. for $70.3 million has been terminated.@@@@1@26@@oe@2-2-2013
20355002@unknown@formal@none@1@S@Clarcor, a maker of packaging and filtration products, said the two companies couldn't agree on terms of a definitive agreement.@@@@1@20@@oe@2-2-2013
20355003@unknown@formal@none@1@S@The sale price of the unit, which makes packaging products, was to consist of cash, notes and an amount to be determined by the unit's future performance.@@@@1@27@@oe@2-2-2013
20355004@unknown@formal@none@1@S@Clarcor said it is inviting proposals from other prospective purchasers of the unit.@@@@1@13@@oe@2-2-2013
20355005@unknown@formal@none@1@S@Both Clarcor and Anderson are based in Rockford, Ill.@@@@1@9@@oe@2-2-2013
20356001@unknown@formal@none@1@S@Rally's Inc. said it adopted a shareholders rights plan to protect shareholders from an inadequately priced takeover offer.@@@@1@18@@oe@2-2-2013
20356002@unknown@formal@none@1@S@The plan provides for the distribution of one common stock-purchase right as a dividend for each share of common outstanding.@@@@1@20@@oe@2-2-2013
20356003@unknown@formal@none@1@S@Each right entitles shareholders to buy one-half share of common for $30.@@@@1@12@@oe@2-2-2013
20356004@unknown@formal@none@1@S@Earlier this month, a group led by three of the company's directors, Burt Sugarman, James M. Trotter III and Willam E. Trotter II, indicated it had a 45.2% stake in the Louisville, Ky., fast-food company and that it planned to seek a majority of seats on Rally's nine-member board.@@@@1@49@@oe@2-2-2013
20356005@unknown@formal@none@1@S@The company said it was "concerned about the announced intent to acquire control of the company" by a Sugarman-led group.@@@@1@20@@oe@2-2-2013
20357001@unknown@formal@none@1@S@Fujitsu Ltd. said it wants to withdraw its controversial one-yen bid to design a waterworks computer system for the city of Hiroshima.@@@@1@22@@oe@2-2-2013
20357002@unknown@formal@none@1@S@Meanwhile, Japan's Fair Trade Commission said it was considering launching an investigation into whether the bid, the equivalent of less than a penny, violates anti-monopoly laws.@@@@1@26@@oe@2-2-2013
20357003@unknown@formal@none@1@S@Hiroshima last week held an auction to pick the contractor, expecting to pay about 11 million yen for the project.@@@@1@20@@oe@2-2-2013
20357004@unknown@formal@none@1@S@Eight companies submitted bids, but Fujitsu won the contract by essentially saying it would do the job for free.@@@@1@19@@oe@2-2-2013
20357005@unknown@formal@none@1@S@News of the bid drew sharp criticism from other computer companies and industry observers.@@@@1@14@@oe@2-2-2013
20357006@unknown@formal@none@1@S@Fujitsu itself, which said the bid hadn't been approved by its headquarters, was clearly embarrassed.@@@@1@15@@oe@2-2-2013
20357007@unknown@formal@none@1@S@The bid wasn't "socially acceptable," a company spokeswoman said.@@@@1@9@@oe@2-2-2013
20357008@unknown@formal@none@1@S@Hiroshima officials said they still consider the contract in effect and had no immediate plans to cancel it.@@@@1@18@@oe@2-2-2013
20357009@unknown@formal@none@1@S@They said they wanted to wait for the outcome of any government investigation before deciding what to do.@@@@1@18@@oe@2-2-2013
20358001@unknown@formal@none@1@S@The city's Department of Consumer Affairs charged Newmark & Lewis Inc. with failing to deliver on its promise of lowering prices.@@@@1@21@@oe@2-2-2013
20358002@unknown@formal@none@1@S@In a civil suit commenced in state Supreme Court in New York, the agency alleged that the consumer-electronics and appliance discount-retailing chain engaged in deceptive advertising by claiming to have "lowered every price on every item" as part of an advertising campaign that began June 1.@@@@1@46@@oe@2-2-2013
20358003@unknown@formal@none@1@S@The agency said it monitored Newmark & Lewis's advertised prices before and after the ad campaign, and found that the prices of at least 50 different items either increased or stayed the same.@@@@1@33@@oe@2-2-2013
20358004@unknown@formal@none@1@S@In late May, Newmark & Lewis announced a plan to cut prices 5% to 20% and eliminate what it called a "standard discount-retailing practice" of negotiating individual deals with customers.@@@@1@30@@oe@2-2-2013
20358005@unknown@formal@none@1@S@The consumer agency also disputed Newmark & Lewis's continuing strategy of advertising "new lower prices" when allgedly there haven't been price reductions since June 1.@@@@1@25@@oe@2-2-2013
20358006@unknown@formal@none@1@S@Richard D. Lewis, president of the 47-store chain, defended the company's pricing campaign, saying it didn't use "the misleading expression `reduced from original prices.'"@@@@1@24@@oe@2-2-2013
20358007@unknown@formal@none@1@S@Mr. Lewis said the company marked price tags and advertised at its "lowest possible prices" for all its merchandise to reduce public confusion.@@@@1@23@@oe@2-2-2013
20358008@unknown@formal@none@1@S@Mr. Lewis said the company gave the Consumer Affairs department "volumes of documents" to substantiate its statements, and made "every effort to comply" with all the agency's policies.@@@@1@28@@oe@2-2-2013
20358009@unknown@formal@none@1@S@In its suit, the consumer agency seeks fines of $1,000 per violation of the city's Consumer Protection Law, costs of investigation, and an injunction to prevent Newmark & Lewis from continuing its allegedly deceptive advertising.@@@@1@35@@oe@2-2-2013
20359001@unknown@formal@none@1@S@Wary investors have been running for the stock market's equivalent of bomb shelters, buying shares of gold-mining and utility companies.@@@@1@20@@oe@2-2-2013
20359002@unknown@formal@none@1@S@Those two groups have recently been leading the list of stocks setting new highs.@@@@1@14@@oe@2-2-2013
20359003@unknown@formal@none@1@S@On Friday, when only a dozen common stocks hit 52-week highs on the New York Stock Exchange, five were gold-mining issues, and another four were utilities.@@@@1@26@@oe@2-2-2013
20359004@unknown@formal@none@1@S@On Monday, when a mere seven common stocks managed new highs, six were utilities or golds.@@@@1@16@@oe@2-2-2013
20359005@unknown@formal@none@1@S@At first glance, gold and utilities seem strange bedfellows.@@@@1@9@@oe@2-2-2013
20359006@unknown@formal@none@1@S@After all, gold prices usually soar when inflation is high.@@@@1@10@@oe@2-2-2013
20359007@unknown@formal@none@1@S@Utility stocks, on the other hand, thrive on disinflation, because the fat dividends utilities pay look more attractive when prices are falling (or rising slowly).@@@@1@25@@oe@2-2-2013
20359008@unknown@formal@none@1@S@But the two groups have something very important in common: They are both havens for scared money, stocks for people who hate stocks.@@@@1@23@@oe@2-2-2013
20359009@unknown@formal@none@1@S@It's as if investors, the past few days, are betting that something is going to go wrong -- even if they don't know what.@@@@1@24@@oe@2-2-2013
20359010@unknown@formal@none@1@S@If the stock market and the economy catch their breath and show that they're on firmer footing, these stocks might well fall back.@@@@1@23@@oe@2-2-2013
20359011@unknown@formal@none@1@S@Indeed, that happened to some extent yesterday, as industrial stocks rebounded, partly on news of takeovers in the paper industry.@@@@1@20@@oe@2-2-2013
20359012@unknown@formal@none@1@S@Still, a lot of investors clearly have revived their interest in gold and utility shares.@@@@1@15@@oe@2-2-2013
20359013@unknown@formal@none@1@S@"The primary overriding thing is that people are frightened," says Martin Sass, a New York money manager.@@@@1@17@@oe@2-2-2013
20359014@unknown@formal@none@1@S@"The aftershocks of Oct. 13 (when the Dow Jones Industrial Average dropped 190 points) are still reverberating."@@@@1@17@@oe@2-2-2013
20359015@unknown@formal@none@1@S@Certainly, the Oct. 13 sell-off didn't settle any stomachs.@@@@1@9@@oe@2-2-2013
20359016@unknown@formal@none@1@S@Beyond that, money managers and analysts see other problems.@@@@1@9@@oe@2-2-2013
20359017@unknown@formal@none@1@S@Inventories are creeping up; car inventories are already high, and big auto makers are idling plants.@@@@1@16@@oe@2-2-2013
20359018@unknown@formal@none@1@S@Takeover fever has cooled, removing a major horse from the market's cart.@@@@1@12@@oe@2-2-2013
20359019@unknown@formal@none@1@S@Britain's unsettled political scene also worries some investors.@@@@1@8@@oe@2-2-2013
20359020@unknown@formal@none@1@S@"The gyrations in the British government" add political uncertainty on top of high inflation and a ragged stock market, says John Hoffman, assistant director of research at Smith Barney, Harris Upham & Co.@@@@1@33@@oe@2-2-2013
20359021@unknown@formal@none@1@S@"One of the three major markets in the world is getting chewed up pretty bad."@@@@1@15@@oe@2-2-2013
20359022@unknown@formal@none@1@S@"If the Fed does not come to the rescue and produce lower short-term interest rates over the next 30 days, the market's going to flounder," says Larry Wachtel, a market analyst with Prudential-Bache Securities.@@@@1@34@@oe@2-2-2013
20359023@unknown@formal@none@1@S@With this sort of sentiment common, it's natural for investors to seek out "defensive" investments.@@@@1@15@@oe@2-2-2013
20359024@unknown@formal@none@1@S@Utilities are a classic example: Even in recessions, people continue to use electric power, water and gas at a fairly steady rate.@@@@1@22@@oe@2-2-2013
20359025@unknown@formal@none@1@S@Such defensive issues as food, tobacco, and drug stocks have been in favor for some time.@@@@1@16@@oe@2-2-2013
20359026@unknown@formal@none@1@S@But many of these stocks have now become expensive.@@@@1@9@@oe@2-2-2013
20359027@unknown@formal@none@1@S@Mr. Wachtel points to Coca-Cola Co. and PepsiCo Inc. as examples: They're selling for 18 to 22 times estimated 1990 per-share earnings.@@@@1@22@@oe@2-2-2013
20359028@unknown@formal@none@1@S@Gold stocks aren't cheap on this basis, either, with many selling for 20 times earnings or more.@@@@1@17@@oe@2-2-2013
20359029@unknown@formal@none@1@S@Even utility stocks aren't all that inexpensive, at an average of 14 times earnings.@@@@1@14@@oe@2-2-2013
20359030@unknown@formal@none@1@S@But the two groups represent a further step in defensiveness.@@@@1@10@@oe@2-2-2013
20359031@unknown@formal@none@1@S@If gold stocks and utilities continue to lead, it may signal that the market is in for rough times.@@@@1@19@@oe@2-2-2013
20359032@unknown@formal@none@1@S@That's just what Joseph Granville expects.@@@@1@6@@oe@2-2-2013
20359033@unknown@formal@none@1@S@"We are going to explode lower," says the flamboyant market seer, who had a huge following a few years back.@@@@1@20@@oe@2-2-2013
20359034@unknown@formal@none@1@S@"Anyone telling you to buy stocks in this market is technically irresponsible.@@@@1@12@@oe@2-2-2013
20359035@unknown@formal@none@1@S@You don't want to own anything long except gold stocks."@@@@1@10@@oe@2-2-2013
20359036@unknown@formal@none@1@S@One reason for his gloom is a weekly tally he keeps of stocks within a point of hitting new highs or lows.@@@@1@22@@oe@2-2-2013
20359037@unknown@formal@none@1@S@Last Friday, 96 stocks on the Big Board hit new 12-month lows.@@@@1@12@@oe@2-2-2013
20359038@unknown@formal@none@1@S@But by Mr. Granville's count, 493 issues were within one point of such lows.@@@@1@14@@oe@2-2-2013
20359039@unknown@formal@none@1@S@Robert Stovall, a veteran New York money manager and president of Stovall/Twenty-First Securities, has money in both gold and utility issues.@@@@1@21@@oe@2-2-2013
20359040@unknown@formal@none@1@S@"I think we could very well have {an economic} slowdown, beginning very soon if not already," he says.@@@@1@18@@oe@2-2-2013
20359041@unknown@formal@none@1@S@Mr. Stovall doesn't expect an actual recession.@@@@1@7@@oe@2-2-2013
20359042@unknown@formal@none@1@S@But he does expect "a muffler dragger" of an economy, with "very slow growth, maybe one quarter of no growth at all."@@@@1@22@@oe@2-2-2013
20359043@unknown@formal@none@1@S@In such a climate, utility stocks look good to him.@@@@1@10@@oe@2-2-2013
20359044@unknown@formal@none@1@S@He favors FPL Group Inc., Florida Progress Corp., TECO Energy Inc., Wisconsin Energy Corp., and Dominion Resources Inc.@@@@1@18@@oe@2-2-2013
20359045@unknown@formal@none@1@S@The appeal of gold issues, Mr. Stovall says, is that "they're a counter group.@@@@1@14@@oe@2-2-2013
20359046@unknown@formal@none@1@S@You go into them because they move counter to the general market."@@@@1@12@@oe@2-2-2013
20359047@unknown@formal@none@1@S@He adds that gold stocks had been down so long they were "ready for a bounce."@@@@1@16@@oe@2-2-2013
20359048@unknown@formal@none@1@S@His favorites are American Barrick Resources Corp., Echo Bay Mines Ltd. and Coeur d'Alene Mines Corp.@@@@1@16@@oe@2-2-2013
20359049@unknown@formal@none@1@S@Nevertheless, Mr. Stovall emphasizes that "you don't buy {gold stocks} based on powerful fundamentals."@@@@1@14@@oe@2-2-2013
20359050@unknown@formal@none@1@S@In addition to having high price-earnings ratios, most pay puny dividends, if any.@@@@1@13@@oe@2-2-2013
20359051@unknown@formal@none@1@S@"The earning power {of gold mining companies} is restricted unless the gold price hops up over $425 an ounce," he says.@@@@1@21@@oe@2-2-2013
20359052@unknown@formal@none@1@S@Abby Cohen, an investment strategist for Drexel Burnham Lambert, also thinks it makes sense to have some money in both utilities and gold.@@@@1@23@@oe@2-2-2013
20359053@unknown@formal@none@1@S@"My outlook is for a decline of about 10% in corporate profits" in 1990, she says.@@@@1@16@@oe@2-2-2013
20359054@unknown@formal@none@1@S@But "a bunch of utilities" should post profit increases.@@@@1@9@@oe@2-2-2013
20359055@unknown@formal@none@1@S@Among utilities, Drexel currently favors Entergy Corp. and General Public Utilities Corp.@@@@1@12@@oe@2-2-2013
20359056@unknown@formal@none@1@S@As for gold, she notes that it usually rises when the dollar is weak, as it has been lately.@@@@1@19@@oe@2-2-2013
20359057@unknown@formal@none@1@S@Among gold stocks, Drexel likes Battle Mountain Gold Co., Newmont Gold Co. and Freeport-McMoRan Gold Co.@@@@1@16@@oe@2-2-2013
20360001@unknown@formal@none@1@S@It never ceases to amaze me how the business world continues to trivialize the world's environmental problems ("Is Science, or Private Gain, Driving Ozone Policy?" by George Melloan, Business World, Oct. 24).@@@@1@32@@oe@2-2-2013
20360002@unknown@formal@none@1@S@To suggest that a 10% drop in ozone by the middle of the next century would be negligible is irresponsible and shortsighted.@@@@1@22@@oe@2-2-2013
20360003@unknown@formal@none@1@S@Consider the fact that a mere 2% drop in ozone would increase birth defects and mutations by allowing solar radiation to alter the DNA structure.@@@@1@25@@oe@2-2-2013
20360004@unknown@formal@none@1@S@Even a small reduction is unacceptable and to suggest otherwise is penny-wise and pound-foolish.@@@@1@14@@oe@2-2-2013
20360005@unknown@formal@none@1@S@The reason environmentalists "don't mind seeing new crises arise" is because there are new crises.@@@@1@15@@oe@2-2-2013
20360006@unknown@formal@none@1@S@Crises larger and more dangerous to the quality of life than they were 10 years ago.@@@@1@16@@oe@2-2-2013
20360007@unknown@formal@none@1@S@If you are doubtful, consider for a moment that the Pomton Lakes Reservoirs in northern New Jersey, which supply the tristate area with drinking water, are riddled with toxic PCBs.@@@@1@30@@oe@2-2-2013
20360008@unknown@formal@none@1@S@This is a fact and not the product of some environmental doomsayer or a group's ploy to create a market.@@@@1@20@@oe@2-2-2013
20360009@unknown@formal@none@1@S@It's time business leaders and the general public learn that mankind does not rule over this natural environment but is rather the integral, symbiotic player within nature's workings.@@@@1@28@@oe@2-2-2013
20360010@unknown@formal@none@1@S@Mark T. Kuiper Jersey City, N.J.@@@@1@6@@oe@2-2-2013
20360011@unknown@formal@none@1@S@Mr. Melloan's column was right on the money, but I wish it could have gone one step further.@@@@1@18@@oe@2-2-2013
20360012@unknown@formal@none@1@S@As an employee of a major refrigerator and freezer manufacturer, I have been heavily involved in dealing with the political manifestations of the Rowland-Molina theory (named after the researchers who found in 1974 that chlorofluorocarbons contributed to the depletion of ozone in the earth's atmosphere) and the Montreal Protocol.@@@@1@49@@oe@2-2-2013
20360013@unknown@formal@none@1@S@An important part of my effort has been to understand the science so I can explain it to corporate colleagues facing major changes in product design.@@@@1@26@@oe@2-2-2013
20360014@unknown@formal@none@1@S@In my research, I have found a paper by Joseph Scotto of the National Cancer Institute and several colleagues reporting an 11-year decrease in UV-B radiation at eight U.S. measurement sites.@@@@1@31@@oe@2-2-2013
20360015@unknown@formal@none@1@S@Our concern for the ozone layer, of course, grows out of the potential for increasing UV-B radiation, which could damage flora and fauna.@@@@1@23@@oe@2-2-2013
20360016@unknown@formal@none@1@S@The last of the measurements reported was in 1985, but recent conversations with Mr. Scotto indicated that he knew of no recent changes in the trend.@@@@1@26@@oe@2-2-2013
20360017@unknown@formal@none@1@S@I understand, but haven't yet verified, that there are studies by Norwegians, Russians and the Max Planck Institute that show either unchanging or declining UV-B at the surface.@@@@1@28@@oe@2-2-2013
20360018@unknown@formal@none@1@S@To me, this calls into question the validity of the Rowland-Molina theory and hence the whole chlorofluorocarbons replacement effort.@@@@1@19@@oe@2-2-2013
20360019@unknown@formal@none@1@S@This, in turn, threatens the massive vested interests of which you have written.@@@@1@13@@oe@2-2-2013
20360020@unknown@formal@none@1@S@My questions on this subject at a recent meeting at the World Resources Institute with representatives of the National Resource Development Commission, the Environmental Protection Agency, Friends of the Earth, etc. were greeted with derision and some mumbled comments about that report being discredited.@@@@1@44@@oe@2-2-2013
20360021@unknown@formal@none@1@S@When I expressed amazement that no one was undertaking a more current and credible UV-B study, I was urged to get back to the agenda topic, which was, ironically, a schedule for getting rid of HCFCs, the so-called soft CFCs that are such an important part of the CFC substitution scenario.@@@@1@51@@oe@2-2-2013
20360022@unknown@formal@none@1@S@Subsequently, I have learned that a private group, of which Du Pont is a part, is funding a modest program to continue data gathering at the Scotto report stations as well as to develop more sophisticated UVB measuring instruments.@@@@1@39@@oe@2-2-2013
20360023@unknown@formal@none@1@S@But this is almost an underground activity.@@@@1@7@@oe@2-2-2013
20360024@unknown@formal@none@1@S@To my knowledge, no government entities, including the EPA, are pursuing UV-B measurements.@@@@1@13@@oe@2-2-2013
20360025@unknown@formal@none@1@S@The topic never comes up in ozonedepletion "establishment" meetings, of which I have attended many.@@@@1@15@@oe@2-2-2013
20360026@unknown@formal@none@1@S@It seems to me that such measurements are a vital part of any intellectually honest evaluation of the threat posed by CFCs.@@@@1@22@@oe@2-2-2013
20360027@unknown@formal@none@1@S@While recognizing that professional environmentalists may feel threatened, I intend to urge that UV-B be monitored whenever I can.@@@@1@19@@oe@2-2-2013
20360028@unknown@formal@none@1@S@Frederick H. Hallett Vice President Industry and Government Relations White Consolidated Industries Inc. Washington@@@@1@14@@oe@2-2-2013
20360029@unknown@formal@none@1@S@The relationship between surface release of CFCs and global stratospheric ozone loss was identified back in 1974.@@@@1@17@@oe@2-2-2013
20360030@unknown@formal@none@1@S@Although, like all scientific theories, it had its initial opponents, few experts question the connection now.@@@@1@16@@oe@2-2-2013
20360031@unknown@formal@none@1@S@The discovery of the ozone "hole" over Antarctica and the results of ground-based and high-altitude aircraft experiments conducted over the past several years serve as evidence that ozone depletion is related to CFC concentrations.@@@@1@34@@oe@2-2-2013
20360032@unknown@formal@none@1@S@In the September issue of Scientific American, Thomas E. Graedel, distinguished member of the technical staff at AT&T Bell Laboratories, and Paul J. Crutzen, director of the air chemistry division of the Max Planck Institute for Chemistry in Mainz, West Germany, wrote, "It is now quite evident that chlorofluorocarbons, particularly CFC-11 and CFC-12 are the major culprits responsible for ozone depletion."@@@@1@61@@oe@2-2-2013
20360033@unknown@formal@none@1@S@Mr. Melloan quotes Peter Teagan and invokes the name of Arthur D. Little Inc. to support his statement.@@@@1@18@@oe@2-2-2013
20360034@unknown@formal@none@1@S@However, unlike Messrs. Graedel and Crutzen, who are both pioneers in the study of atmospheric chemistry, Mr. Teagan has no special expertise in the area.@@@@1@25@@oe@2-2-2013
20360035@unknown@formal@none@1@S@He is a mechanical engineer, not an atmospheric chemist.@@@@1@9@@oe@2-2-2013
20360036@unknown@formal@none@1@S@It is insulting and demeaning to say that scientists "needed new crises to generate new grants and contracts" and that environmental groups need them to stay in business.@@@@1@28@@oe@2-2-2013
20360037@unknown@formal@none@1@S@Solving the global environmental problems we all face will require an unprecedented level of cooperation and communication among industry, policy makers and the scientific community world-wide.@@@@1@26@@oe@2-2-2013
20360038@unknown@formal@none@1@S@Karen Fine Coburn Publisher Global Environmental Change Report Arlington, Mass.@@@@1@10@@oe@2-2-2013
20361001@unknown@formal@none@1@S@Nearly two months after saying it had been the victim of widespread fraud, MiniScribe Corp. disclosed it had a negative net worth of $88 million as of July 2 and hinted that it might be forced to file for protection under bankruptcy laws.@@@@1@43@@oe@2-2-2013
20361002@unknown@formal@none@1@S@Richard Rifenburgh, chairman and chief executive of the Longmont, Colo., disk-drive maker, also said the company continued losing money in the third quarter and expects to sustain further losses through the end of the year.@@@@1@35@@oe@2-2-2013
20361003@unknown@formal@none@1@S@Mr. Rifenburgh told industry analysts he is moving "aggressively" to negotiate out-of-court settlements on a number of shareholder lawsuits, but noted that the company could file for bankruptcy-law protection if settlement talks fail.@@@@1@33@@oe@2-2-2013
20361004@unknown@formal@none@1@S@Mr. Rifenburgh also noted that 150 million shares of MiniScribe common stock were traded during the past three years, "so there's a tremendous amount of exposure."@@@@1@26@@oe@2-2-2013
20361005@unknown@formal@none@1@S@MiniScribe has said that its financial results for the past three fiscal years would have to be restated because of the allegedly fraudulent accounting and marketing practices that inflated revenues and net income.@@@@1@33@@oe@2-2-2013
20361006@unknown@formal@none@1@S@MiniScribe also hasn't filed any financial statements for 1989.@@@@1@9@@oe@2-2-2013
20361007@unknown@formal@none@1@S@Mr. Rifenburgh said such statements should be ready by the end of November.@@@@1@13@@oe@2-2-2013
20361008@unknown@formal@none@1@S@He said he expects the company to have $500 million in sales for this year.@@@@1@15@@oe@2-2-2013
20361009@unknown@formal@none@1@S@He didn't say what the company expected to report for year-earlier sales, which will be restated from the previously reported $603 million.@@@@1@22@@oe@2-2-2013
20361010@unknown@formal@none@1@S@The release of MiniScribe's new balance sheet came one day after it introduced its new line of one-inch disk drives, on which it is pinning much of its hope for survival.@@@@1@31@@oe@2-2-2013
20361011@unknown@formal@none@1@S@Although it is not the first company to produce the thinner drives, which store information in personal computers, MiniScribe says it is the first with an 80-megabyte drive; the company plans to introduce a 120-megabyte drive next year.@@@@1@38@@oe@2-2-2013
20361012@unknown@formal@none@1@S@Analysts and consultants had mixed reactions to yesterday's announcements, praising Mr. Rifenburgh's efforts but questioning whether the company can survive in a highly competitive marketplace.@@@@1@25@@oe@2-2-2013
20361013@unknown@formal@none@1@S@"It's a wait-and-see attitude," said Dave Vellante, vice president of storage research for International Data Corp.@@@@1@16@@oe@2-2-2013
20361014@unknown@formal@none@1@S@Others pointed out that at least four other disk-drive makers will have competitive one-inch drives early next year and that the industry already operates on very thin margins.@@@@1@28@@oe@2-2-2013
20361015@unknown@formal@none@1@S@The company also faces delisting by the National Association of Securities Dealers.@@@@1@12@@oe@2-2-2013
20361016@unknown@formal@none@1@S@The company continues to trade in the over-the-counter market with an exception to listing requirements.@@@@1@15@@oe@2-2-2013
20361017@unknown@formal@none@1@S@MiniScribe filed a status report with the NASD on Monday, detailing its efforts to comply with listing requirements and requesting an extension of the exception, but hasn't received a response.@@@@1@30@@oe@2-2-2013
20361018@unknown@formal@none@1@S@MiniScribe common closed yesterday at $1.9375, down 6.25 cents, and has been trading for several months at less than $3 a share.@@@@1@22@@oe@2-2-2013
20361019@unknown@formal@none@1@S@Meanwhile, U.S. Attorney Jerry Rafferty in Denver is reviewing the report prepared by MiniScribe's outside directors, to determine if criminal charges should be brought before a grand jury.@@@@1@28@@oe@2-2-2013
20361020@unknown@formal@none@1@S@The MiniScribe report outlines a host of allegedly fraudulent practices, including the shipment of bricks and defective disk drives that were booked as sales, and inventory forgeries in accounting records.@@@@1@30@@oe@2-2-2013
20361021@unknown@formal@none@1@S@The internal investigation also criticized MiniScribe's auditors, Coopers & Lybrand, for allegedly ignoring numerous red flags.@@@@1@16@@oe@2-2-2013
20361022@unknown@formal@none@1@S@Mr. Rifenburgh said the board still hasn't acted on most of the internal report's recommendations, pending restatement of the balance sheet.@@@@1@21@@oe@2-2-2013
20361023@unknown@formal@none@1@S@He added that he expects to make a recommendation within a few weeks on whether MiniScribe should file its own lawsuits against former company officers and directors.@@@@1@27@@oe@2-2-2013
20362001@unknown@formal@none@1@S@American Enterprise Institute scholar Norman Ornstein in the Oct. 21 TV Guide on "What TV News Doesn't Report About Congress -- and Should":@@@@1@23@@oe@2-2-2013
20362002@unknown@formal@none@1@S@By concentrating all their resources on the pay raise, Wright and Tower, the networks actually overlooked some major stories that showed the flaws and shortcomings of the institution. . . .@@@@1@31@@oe@2-2-2013
20362003@unknown@formal@none@1@S@An imaginative producer could easily have created a fast-moving and interesting piece about how Congress really works -- and why voters in, say, West Virginia got a federally funded university project and building while voters in Arkansas did not.@@@@1@39@@oe@2-2-2013
20362004@unknown@formal@none@1@S@But nobody did such a piece, reflecting a contemporary axiom: the more a scandal has to do with a congressman's duties as a congressman, the less likely it is to catch the fancy of a network.@@@@1@36@@oe@2-2-2013
20362005@unknown@formal@none@1@S@Ethicist Michael Josephson, in one of his institute's recent publications on "Journalism: In the Year 2000":@@@@1@16@@oe@2-2-2013
20362006@unknown@formal@none@1@S@The operative definition of newsworthiness will favor virtually unrestrained use of personal, sensitive and intimate facts.@@@@1@16@@oe@2-2-2013
20362007@unknown@formal@none@1@S@Traditional standards of relevancy and importance ("is this something the public ought to know") will be replaced by a much broader test ("is this something the public is interested in knowing").@@@@1@31@@oe@2-2-2013
20362008@unknown@formal@none@1@S@And, since the public has always been fascinated by gossip and voyeurism, reporters and editors will strain for creative angles to justify the inclusion of collateral facts about private lives including sexual activities and domestic relationships, activities of family members, and all matters about mental and physical health.@@@@1@48@@oe@2-2-2013
20362009@unknown@formal@none@1@S@Similarly, visual images will be more vivid, sensational and, sometimes, gruesome.@@@@1@11@@oe@2-2-2013
20362010@unknown@formal@none@1@S@One consequence of the trend toward tabloid standards of taste will be fierce attacks from politicians who will find sufficient evidence of abuse to arouse an already cynical public to control the press.@@@@1@33@@oe@2-2-2013
20363001@unknown@formal@none@1@S@Bankers Trust New York Corp. won permission from the Federal Reserve Board to move the company's private placement department to its fledgling securities subsidiary.@@@@1@24@@oe@2-2-2013
20363002@unknown@formal@none@1@S@The seemingly mundane action, which was opposed by the Securities Industry Association, a trade group, has important implications for banks' recent entry into the underwriting of corporate securities.@@@@1@28@@oe@2-2-2013
20363003@unknown@formal@none@1@S@The Fed's action increases the volume of publicly registered securities that banks' securities affiliates will be able to underwrite.@@@@1@19@@oe@2-2-2013
20363004@unknown@formal@none@1@S@Several other banks have similar applications pending.@@@@1@7@@oe@2-2-2013
20363005@unknown@formal@none@1@S@Over the past two years, the Fed has given a handful of banks' securities affiliates permission to underwrite and deal in a variety of corporate, asset-backed and municipal securities that had previously been the sole domain of securities firms.@@@@1@39@@oe@2-2-2013
20363006@unknown@formal@none@1@S@Securities firms have challenged those Fed approvals, saying they violate federal laws separating the banking and securities businesses.@@@@1@18@@oe@2-2-2013
20363007@unknown@formal@none@1@S@However, the Fed limited the revenue that banks could earn from these new underwriting activities to no more than 10% of the revenue earned from other securities activities long open to banks, such as dealing in U.S. Treasurys.@@@@1@38@@oe@2-2-2013
20363008@unknown@formal@none@1@S@For some banks that 10% ceiling created problems.@@@@1@8@@oe@2-2-2013
20363009@unknown@formal@none@1@S@But, by allowing BT Securities Inc. to handle private placements, the Fed boosted the volume of new types of underwriting that the unit can do.@@@@1@25@@oe@2-2-2013
20363010@unknown@formal@none@1@S@Private placements involve debt and equity securities, typically in denominations of $1 million, that are sold to institutional investors and aren't registered with the Securities and Exchange Commission.@@@@1@28@@oe@2-2-2013
20363011@unknown@formal@none@1@S@Last year, Bankers Trust said it placed $10 billion of corporate debt and equities privately.@@@@1@15@@oe@2-2-2013
20364001@unknown@formal@none@1@S@Companies listed below reported quarterly profit substantially different from the average of analysts' estimates.@@@@1@14@@oe@2-2-2013
20364002@unknown@formal@none@1@S@The companies are followed by at least three analysts, and had a minimum five-cent change in actual earnings per share.@@@@1@20@@oe@2-2-2013
20364003@unknown@formal@none@1@S@Estimated and actual results involving losses are omitted.@@@@1@8@@oe@2-2-2013
20364004@unknown@formal@none@1@S@The percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past 30 days.@@@@1@23@@oe@2-2-2013
20364005@unknown@formal@none@1@S@Otherwise, actual profit is compared with the 300-day estimate.@@@@1@9@@oe@2-2-2013
20365001@unknown@formal@none@1@S@Bonnie J. Stedt was named an executive vice president of the American Express Travel Related Services Co. unit of this travel and financial services firm.@@@@1@25@@oe@2-2-2013
20365002@unknown@formal@none@1@S@She retains her duties of human-resources director.@@@@1@7@@oe@2-2-2013
20366001@unknown@formal@none@1@S@Joe F. Lynch, the 56-year-old chairman and chief executive officer of First Continental Real Estate Investment Trust, was named to the new post of vice chairman of this bank holding company.@@@@1@31@@oe@2-2-2013
20367001@unknown@formal@none@1@S@Every workday at 11 a.m., 40-year-old Mike Sinyard dons cycling clothes, hops on a bike he keeps at his Morgan Hill, Calif., office and sets out to cover a distance most people would travel only by car.@@@@1@37@@oe@2-2-2013
20367002@unknown@formal@none@1@S@As many as 50 of his employees at Specialized Bicycle Components Inc. ride with him.@@@@1@15@@oe@2-2-2013
20367003@unknown@formal@none@1@S@When they return to their desks at 1 p.m., they have pedaled 20 miles.@@@@1@14@@oe@2-2-2013
20367004@unknown@formal@none@1@S@Such fervor for cycling helped Mr. Sinyard build a creative company at the forefront of its industry.@@@@1@17@@oe@2-2-2013
20367005@unknown@formal@none@1@S@Founded by bike enthusiasts rather than businessmen, Specialized spotted the appeal of fat-tired bikes that go almost anywhere and began mass-producing them in 1981.@@@@1@24@@oe@2-2-2013
20367006@unknown@formal@none@1@S@In the past five years, the company's sales have grown to $80 million from $26 million.@@@@1@16@@oe@2-2-2013
20367007@unknown@formal@none@1@S@Today, so-called mountain bikes account for two-thirds of the $2 billion spent annually on all bicycles in the U.S.@@@@1@19@@oe@2-2-2013
20367008@unknown@formal@none@1@S@With 65% of its sales coming from mountain bikes, Specialized is widely considered to be a market leader.@@@@1@18@@oe@2-2-2013
20367009@unknown@formal@none@1@S@(Accessories, largely for mountain-bike users, account for much of the rest of sales.)@@@@1@13@@oe@2-2-2013
20367010@unknown@formal@none@1@S@But today, the company needs its entrepreneurial spirit more than ever.@@@@1@11@@oe@2-2-2013
20367011@unknown@formal@none@1@S@One large competitor after another is leaping into the booming market Specialized helped create, turning out mountain bikes with such well-known names as Schwinn, Peugeot, Raleigh and Nishiki.@@@@1@28@@oe@2-2-2013
20367012@unknown@formal@none@1@S@Thus, Mr. Sinyard's company must innovate more than ever to stay ahead of them, by developing new products specifically for mountain biking.@@@@1@22@@oe@2-2-2013
20367013@unknown@formal@none@1@S@At the same time, though, it must become more structured to better manage its growth.@@@@1@15@@oe@2-2-2013
20367014@unknown@formal@none@1@S@Accomplishing both will be a balancing act as challenging as riding a unicycle.@@@@1@13@@oe@2-2-2013
20367015@unknown@formal@none@1@S@It is a problem common to small companies that have grown fast -- especially when their success attracts big-time competitors.@@@@1@20@@oe@2-2-2013
20367016@unknown@formal@none@1@S@"The big word around Specialized is passion," says Erik Eidsmo, a former ski-industry executive whom Mr. Sinyard recruited from Citicorp to run marketing and sales.@@@@1@25@@oe@2-2-2013
20367017@unknown@formal@none@1@S@"What I hope to bring to this is another word: process.@@@@1@11@@oe@2-2-2013
20367018@unknown@formal@none@1@S@That's my challenge.@@@@1@3@@oe@2-2-2013
20367019@unknown@formal@none@1@S@It's Mike's challenge as well."@@@@1@5@@oe@2-2-2013
20367020@unknown@formal@none@1@S@Mr. Eidsmo is one of several key people from outside the cycling industry who were hired to bring the free-wheeling, fast-growing company under tighter control.@@@@1@25@@oe@2-2-2013
20367021@unknown@formal@none@1@S@"We had a lot of problems," Mr. Sinyard says.@@@@1@9@@oe@2-2-2013
20367022@unknown@formal@none@1@S@While the company's sales were soaring, "We still had a system that was probably appropriate for $10 million to $20 million in sales."@@@@1@23@@oe@2-2-2013
20367023@unknown@formal@none@1@S@Adds Mr. Eidsmo, "What felt good that day was done that day."@@@@1@12@@oe@2-2-2013
20367024@unknown@formal@none@1@S@Since his arrival in May, Mr. Eidsmo has put in place techniques learned while working for Citicorp, such as management-by-objective, detailed project plans and forecasts of company sales and product trends.@@@@1@31@@oe@2-2-2013
20367025@unknown@formal@none@1@S@"We're finally getting -- and it's been very painful -- some understanding of what the company's long-term horizon should begin to look like," Mr. Eidsmo says.@@@@1@26@@oe@2-2-2013
20367026@unknown@formal@none@1@S@"But it's risky," he says of Specialized's attempt to adopt a corporate structure.@@@@1@13@@oe@2-2-2013
20367027@unknown@formal@none@1@S@"You don't want to lose the magic" of the company's creative drive.@@@@1@12@@oe@2-2-2013
20367028@unknown@formal@none@1@S@Hoping to stay ahead of the pack, the company is emphasizing innovation.@@@@1@12@@oe@2-2-2013
20367029@unknown@formal@none@1@S@At a recent trade show, convention-goers lined up to view a new Specialized bike frame that weighs just 2.7 pounds -- a pound less than the lightest mountain-bike frame on the market.@@@@1@32@@oe@2-2-2013
20367030@unknown@formal@none@1@S@By replacing the frame's steel lugs with titanium ones, Mr. Sinyard's company plans to make its next generation of frames even lighter.@@@@1@22@@oe@2-2-2013
20367031@unknown@formal@none@1@S@At the trade show, Specialized also unveiled a revolutionary three-spoked bike wheel developed jointly by Specialized and Du Pont Co.@@@@1@20@@oe@2-2-2013
20367032@unknown@formal@none@1@S@Made of space-age materials, the wheel spokes are designed like airplane wings to shave 10 minutes off the time of a rider in a 100-mile race, the company claims.@@@@1@29@@oe@2-2-2013
20367033@unknown@formal@none@1@S@It currently costs $750, though Mr. Sinyard thinks the price can be reduced within three years to between $200 and $250.@@@@1@21@@oe@2-2-2013
20367034@unknown@formal@none@1@S@He was able to slash the price of the company's least expensive mountain bike to $279 from $750 in@@@@1@19@@oe@2-2-2013
20367035@unknown@formal@none@1@S@But demands on the company's creativity are certain to grow.@@@@1@10@@oe@2-2-2013
20367036@unknown@formal@none@1@S@Competition is intensifying as larger companies invade a mountain-bike market Mr. Sinyard's company once had virtually all to itself.@@@@1@19@@oe@2-2-2013
20367037@unknown@formal@none@1@S@U.S. Cycling Federation official Philip Milburn says mountain biking is "growing at such a monstrous rate that a lot of companies are getting into this."@@@@1@25@@oe@2-2-2013
20367038@unknown@formal@none@1@S@One especially coveted Specialized market the new players are targeting is mountain-bike accessories, which Mr. Eidsmo calls "the future of our business."@@@@1@22@@oe@2-2-2013
20367039@unknown@formal@none@1@S@Accessories not only sell faster than whole bikes, they also offer profit margins nearly double the 25% to 30% or so on sales of complete cycles.@@@@1@26@@oe@2-2-2013
20367040@unknown@formal@none@1@S@To get a piece of the business, Nike Inc., Beaverton, Ore., introduced a line of mountain-bike shoes.@@@@1@17@@oe@2-2-2013
20367041@unknown@formal@none@1@S@About a month ago, Michelin Tire Corp., Greenville, S.C., began selling mountain-bike tires, for years a Specialized stronghold.@@@@1@18@@oe@2-2-2013
20367042@unknown@formal@none@1@S@Competition in the sale of complete bikes is heating up too.@@@@1@11@@oe@2-2-2013
20367043@unknown@formal@none@1@S@Trek Bicycle Corp., which accounts for one-quarter of the $400 million in annual sales at its Milwaukee-based parent, Intrepid Corp., entered the mountain-bike business in 1983.@@@@1@26@@oe@2-2-2013
20367044@unknown@formal@none@1@S@Trek previously made only traditional road bikes, but "it didn't take a rocket scientist to change a road bike into a mountain bike," says Trek's president, Dick Burke.@@@@1@28@@oe@2-2-2013
20367045@unknown@formal@none@1@S@The segment now makes up roughly two-thirds of his company's total sales.@@@@1@12@@oe@2-2-2013
20367046@unknown@formal@none@1@S@At Giant Bicycle Inc., Rancho Dominguez, Calif., sales have tripled since the company entered the U.S. mountain-bike business in 1987.@@@@1@20@@oe@2-2-2013
20367047@unknown@formal@none@1@S@A subsidiary of a Taiwanese holding company with world-wide sales of $150 million, Giant is one example of the sudden globalization of Mr. Sinyard's once-cozy market niche.@@@@1@27@@oe@2-2-2013
20367048@unknown@formal@none@1@S@Schwinn Bicycle Co., Chicago, established joint ventures with bike companies in mainland China and Hungary to sell bikes.@@@@1@18@@oe@2-2-2013
20367049@unknown@formal@none@1@S@In the past year, Derby International Corp., Luxembourg, has acquired such major brands as Peugeot, Raleigh and Nishiki.@@@@1@18@@oe@2-2-2013
20367050@unknown@formal@none@1@S@In response to the internationalization of the business, Mr. Sinyard's company is replacing independent distributors overseas with wholly owned subsidiaries.@@@@1@20@@oe@2-2-2013
20367051@unknown@formal@none@1@S@The move will cut out the cost of a middleman and give Specialized more control over marketing and sales.@@@@1@19@@oe@2-2-2013
20367052@unknown@formal@none@1@S@But as Bill Austin, Giant's president, puts it, "With some of the bigger players consolidating their strength, the game has changed.@@@@1@21@@oe@2-2-2013
20368001@unknown@formal@none@1@S@Carl E. Pfeiffer, chief executive officer, was named to the additional post of chairman of this specialty-metals manufacturing concern.@@@@1@19@@oe@2-2-2013
20368002@unknown@formal@none@1@S@Robert C. Snyder, a director and chief operating officer of the company, succeeds Mr. Pfeiffer as president.@@@@1@17@@oe@2-2-2013
20369001@unknown@formal@none@1@S@Roger M. Marino, president, was named to the new post of vice chairman.@@@@1@13@@oe@2-2-2013
20369002@unknown@formal@none@1@S@Michael Ruettgers, who had been executive vice president, operations, was named president and chief operating officer.@@@@1@16@@oe@2-2-2013
20369003@unknown@formal@none@1@S@EMC manufactures data-storage systems for mainframes and minicomputers.@@@@1@8@@oe@2-2-2013
20370001@unknown@formal@none@1@S@Richard J. Riordan was elected a director of this single-family home builder, increasing the board to nine.@@@@1@17@@oe@2-2-2013
20370002@unknown@formal@none@1@S@He is a senior partner with the law firm of Riordan & McKinzie and is a partner in Riordan Venture Management.@@@@1@21@@oe@2-2-2013
20371001@unknown@formal@none@1@S@John Franco, 47 years old, formerly vice chairman of Capital Holding Corp. and president of its Accumulation Investment Group, was named chief executive officer of this insurance holding company, effective Dec. 1, succeeding Robert T. Shaw, who remains chairman.@@@@1@39@@oe@2-2-2013
20371002@unknown@formal@none@1@S@I.C.H. also named Steven B. Bing, 42, senior vice president since 1986, as president, succeeding John W. Gardiner, who will join the HMS Acquisition Corp. division of Hicks, Muse & Co., which has agreed to buy most of I.C.H.'s Denver-based subsidiaries.@@@@1@41@@oe@2-2-2013
20372001@unknown@formal@none@1@S@MCI Communications Corp. said it won a $27 million contract from Stuart-James Co., a Denver investment banking concern, to provide voice and data telecommunications services.@@@@1@25@@oe@2-2-2013
20372002@unknown@formal@none@1@S@The agreement calls for MCI to provide data service, 800 and Vnet service, a virtual private network service.@@@@1@18@@oe@2-2-2013
20372003@unknown@formal@none@1@S@The companies wouldn't disclose the length of the contract except to say it was a multiyear agreement.@@@@1@17@@oe@2-2-2013
20373001@unknown@formal@none@1@S@The head of British Satellite Broadcasting Ltd. said he hopes to raise about #450 million ($711 million) before the satellite-TV venture makes its delayed debut next spring -- with a major chunk coming from new investors.@@@@1@36@@oe@2-2-2013
20373002@unknown@formal@none@1@S@"We'll raise it through bank loans.@@@@1@6@@oe@2-2-2013
20373003@unknown@formal@none@1@S@We'll raise it through {new} equity.@@@@1@6@@oe@2-2-2013
20373004@unknown@formal@none@1@S@And we'll raise it through existing shareholders" as well as through junk bonds, said Anthony Simonds-Gooding, the private consortium's chief executive.@@@@1@21@@oe@2-2-2013
20373005@unknown@formal@none@1@S@He said he believes the bank loan, to be arranged by February, will supply about half of the financing.@@@@1@19@@oe@2-2-2013
20373006@unknown@formal@none@1@S@British Satellite, which already has raised #423.5 million from 10 backers, initially expected to seek an additional #400 million.@@@@1@19@@oe@2-2-2013
20373007@unknown@formal@none@1@S@Mr. Simonds-Gooding said the additional financing may leave British Satellite owned by about 20 investors, including Australian entrepreneur Alan Bond, whose nearly 36% stake would be reduced to as little as 20%.@@@@1@32@@oe@2-2-2013
20373008@unknown@formal@none@1@S@Bond Corp., British Satellite's biggest investor, would like to withdraw from the satellite-TV consortium, and analysts have speculated Hollywood studios might buy the Bond stake.@@@@1@25@@oe@2-2-2013
20373009@unknown@formal@none@1@S@But Mr. Simonds-Gooding said he isn't talking to any studios about investing.@@@@1@12@@oe@2-2-2013
20373010@unknown@formal@none@1@S@Besides Bond Corp., British Satellite's other backers include Pearson PLC, Reed International PLC and Granada Group PLC.@@@@1@17@@oe@2-2-2013
20373011@unknown@formal@none@1@S@The consortium faced a setback in May when technical problems forced it to postpone the September launch until next spring.@@@@1@20@@oe@2-2-2013
20373012@unknown@formal@none@1@S@Continued uncertainty about the timing of the consortium's debut could make it hard to find a #450 million cash injection.@@@@1@20@@oe@2-2-2013
20373013@unknown@formal@none@1@S@Mr. Simonds-Gooding conceded that British Satellite's potential U.K. lenders "are saying, `When you're on the air, you'll {actually} get the money.'"@@@@1@21@@oe@2-2-2013
20373014@unknown@formal@none@1@S@The bankers also insist that the loans depend on the consortium raising more money from new and existing backers.@@@@1@19@@oe@2-2-2013
20373015@unknown@formal@none@1@S@British Satellite today is unveiling a #30 million advertising and promotional drive for the consortium's planned five channels of movies, sports, entertainment and news shows.@@@@1@25@@oe@2-2-2013
20373016@unknown@formal@none@1@S@As part of the drive, the first 50,000 viewers who put up #10 each will get a package valued at #170 -- including a satellite receiving dish, equipment installation and a three-month subscription to its pay-movie service.@@@@1@37@@oe@2-2-2013
20373017@unknown@formal@none@1@S@British Satellite faces competition from Sky Television, a satellite-TV venture begun last February and owned by Rupert Murdoch's News Corp.@@@@1@20@@oe@2-2-2013
20373018@unknown@formal@none@1@S@The rivals currently are locked in a costly bidding contest for Hollywood film rights.@@@@1@14@@oe@2-2-2013
20374001@unknown@formal@none@1@S@Shares closed sharply higher in London in the year's thinnest volume Monday, supported largely by a technical bounce after last week's sharp declines.@@@@1@23@@oe@2-2-2013
20374002@unknown@formal@none@1@S@Tokyo stocks posted a second-consecutive loss Monday, while trading in Frankfurt, West Germany, was mixed.@@@@1@15@@oe@2-2-2013
20374003@unknown@formal@none@1@S@In London, the Financial Times 100-share index finished 30.1 points higher at 2112.2.@@@@1@13@@oe@2-2-2013
20374004@unknown@formal@none@1@S@The index settled off the high of 2117.1 posted after Wall Street opened stronger.@@@@1@14@@oe@2-2-2013
20374005@unknown@formal@none@1@S@But it showed strength throughout the session, hitting a low of only 2102.2 within the first few minutes of dealings.@@@@1@20@@oe@2-2-2013
20374006@unknown@formal@none@1@S@The 30-share index settled 23.2 points higher at 1701.7.@@@@1@9@@oe@2-2-2013
20374007@unknown@formal@none@1@S@Volume was only 256.6 million shares, breaking the previous 1989 low of 276.8 million shares recorded Oct. 23.@@@@1@18@@oe@2-2-2013
20374008@unknown@formal@none@1@S@Turnover was also down substantially from 840.8 million shares on Friday.@@@@1@11@@oe@2-2-2013
20374009@unknown@formal@none@1@S@Dealers said the market was supported to some extent by a firmer pound, gains on Wall Street and shopping by market-makers to cover internal requirements for selected stocks in the 100-share index.@@@@1@32@@oe@2-2-2013
20374010@unknown@formal@none@1@S@Dealers attributed most of the day's gains to market-makers moving prices higher, rather than an outbreak of significant buying interest.@@@@1@20@@oe@2-2-2013
20374011@unknown@formal@none@1@S@Prices were up across the board, with most blue-chip stocks registering solid gains.@@@@1@13@@oe@2-2-2013
20374012@unknown@formal@none@1@S@Though the market was stronger, dealers said fresh buying interest was sidelined ahead of a potential market-affecting debate in the House of Commons set for Tuesday.@@@@1@26@@oe@2-2-2013
20374013@unknown@formal@none@1@S@It will be Chancellor of the Exchequer John Major's first appearance before the opposition Labor Party.@@@@1@16@@oe@2-2-2013
20374014@unknown@formal@none@1@S@The market is keenly interested in hearing what he has to say about the status of the current 15% base lending rate.@@@@1@22@@oe@2-2-2013
20374015@unknown@formal@none@1@S@In London trading, Courtaulds, a chemicals and textiles company, increased 15 pence to 362 after it disclosed plans to spin off its textiles operations into a separately listed company on Jan. 1.@@@@1@32@@oe@2-2-2013
20374016@unknown@formal@none@1@S@It was the most active of the 100-share index at 8.3 million shares, 6.5 million of which were traded by midday.@@@@1@21@@oe@2-2-2013
20374017@unknown@formal@none@1@S@Jaguar ended 22 higher at 747.@@@@1@6@@oe@2-2-2013
20374018@unknown@formal@none@1@S@Dealers said fresh buying was drawn into Jaguar after a senior executive of Daimler-Benz, the auto maker, told a British television interviewer during the weekend that the West German company held talks with the luxury auto maker over possible joint ventures.@@@@1@41@@oe@2-2-2013
20374019@unknown@formal@none@1@S@Although Daimler has said it isn't interested in mounting a bid for Jaguar, dealers said its name further underlined the growing interest in the British concern.@@@@1@26@@oe@2-2-2013
20374020@unknown@formal@none@1@S@Glaxo was the biggest gainer, jumping 35 to #13.78 ($21.72) on anticipation of a stock split next week.@@@@1@18@@oe@2-2-2013
20374021@unknown@formal@none@1@S@Total turnover in Glaxo was a thin 975,000 shares.@@@@1@9@@oe@2-2-2013
20374022@unknown@formal@none@1@S@In Tokyo, stocks had a second-consecutive loss Monday in quiet trading with the exception of concentrated buying in some incentive-backed issues.@@@@1@21@@oe@2-2-2013
20374023@unknown@formal@none@1@S@The Nikkei index of 225 selected issues fell 109.85 points to 35417.44.@@@@1@12@@oe@2-2-2013
20374024@unknown@formal@none@1@S@The index fell 151.20 Friday.@@@@1@5@@oe@2-2-2013
20374025@unknown@formal@none@1@S@In early trading in Tokyo Tuesday, the Nikkei index rose 35.28 points to 35452.72.@@@@1@14@@oe@2-2-2013
20374026@unknown@formal@none@1@S@On Monday, volume on the First Section was estimated at 600 million shares, down from 1.24 billion shares Friday.@@@@1@19@@oe@2-2-2013
20374027@unknown@formal@none@1@S@Declining issues outnumbered advancers 551 to 349; 224 issues were unchanged.@@@@1@11@@oe@2-2-2013
20374028@unknown@formal@none@1@S@Investors, who took profits Friday, mostly took a wait-and-see attitude Monday amid uncertainty in the foreign-currency market and New York stocks, traders said.@@@@1@23@@oe@2-2-2013
20374029@unknown@formal@none@1@S@Takamori Matsuda, an analyst at Dresdner-ABD Securities, said fading expectation for lower interest rates made investors step back from real-estate shares, which advanced last week.@@@@1@25@@oe@2-2-2013
20374030@unknown@formal@none@1@S@Some traders said institutions were waiting to see the U.S. jobless rate to be issued Friday.@@@@1@16@@oe@2-2-2013
20374031@unknown@formal@none@1@S@The Tokyo Stock Price Index of all issues listed in the First Section, which fell 15.82 points Friday, was down 5.16 points, or 0.19%, at 2676.60.@@@@1@26@@oe@2-2-2013
20374032@unknown@formal@none@1@S@The Second Section index, which fell 36.87 points Friday, was down 21.44 points, or 0.59%, to close at 3636.06.@@@@1@19@@oe@2-2-2013
20374033@unknown@formal@none@1@S@Second Section volume was estimated at 15 million shares, down from 24.5 million shares Friday.@@@@1@15@@oe@2-2-2013
20374034@unknown@formal@none@1@S@Monday's losers included railway, electric-utility and high-technology issues.@@@@1@8@@oe@2-2-2013
20374035@unknown@formal@none@1@S@The energy of participating investors streamed into Tokyu Group shares, pushing prices of its companies up across the board.@@@@1@19@@oe@2-2-2013
20374036@unknown@formal@none@1@S@Tokyu Group announced during the weekend that each Group company will buy the others' stocks to defend themselves against a rumored takeover.@@@@1@22@@oe@2-2-2013
20374037@unknown@formal@none@1@S@The announcement fueled speculation for future advances in the shares.@@@@1@10@@oe@2-2-2013
20374038@unknown@formal@none@1@S@Tokyu Department Store advanced 260 to 2410.@@@@1@7@@oe@2-2-2013
20374039@unknown@formal@none@1@S@Tokyu Corp. was up 150 at 2890.@@@@1@7@@oe@2-2-2013
20374040@unknown@formal@none@1@S@Tokyu Construction gained 170 to 1610.@@@@1@6@@oe@2-2-2013
20374041@unknown@formal@none@1@S@Other winners Monday included nonferrous metals, which attracted investors because of a surge in gold prices on the back of the unstable dollar.@@@@1@23@@oe@2-2-2013
20374042@unknown@formal@none@1@S@Petroleum companies were also popular because of expectations of a weaker dollar, which cuts dollar-denominated crude-oil prices.@@@@1@17@@oe@2-2-2013
20374043@unknown@formal@none@1@S@Share prices in Frankfurt closed narrowly mixed after listless and directionless trading.@@@@1@12@@oe@2-2-2013
20374044@unknown@formal@none@1@S@The DAX index closed at 1466.29, up only 3.36.@@@@1@9@@oe@2-2-2013
20374045@unknown@formal@none@1@S@Traders said turnover was particularly thin as investors waited for Wall Street to set the direction for the week.@@@@1@19@@oe@2-2-2013
20374046@unknown@formal@none@1@S@Most expect the decline in New York stock prices to continue this week.@@@@1@13@@oe@2-2-2013
20374047@unknown@formal@none@1@S@Another factor weighing on the Frankfurt market involves fears about the impending wage talks between the IG Metall metal-workers union and industry representatives, which could result in a wave of strikes next spring, traders said.@@@@1@35@@oe@2-2-2013
20374048@unknown@formal@none@1@S@A few blue-chip stocks posted strong gains, boosted by special factors, while the majority of shares ended little changed.@@@@1@19@@oe@2-2-2013
20374049@unknown@formal@none@1@S@Elsewhere, stock prices were lower in Brussels, Milan and Stockholm, and mixed in Amsterdam, Paris and Zurich.@@@@1@17@@oe@2-2-2013
20374050@unknown@formal@none@1@S@Stocks closed higher in Hong Kong, Manila, Seoul, Sydney, Taipei and Wellington, but were lower in Singapore.@@@@1@17@@oe@2-2-2013
20374051@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
20374052@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
20374053@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
20375001@unknown@formal@none@1@S@Deere & Co. said it reached a tentative agreement with the machinists' union at its Horicon, Wis., plant, ending a month-old strike by workers at the facility.@@@@1@27@@oe@2-2-2013
20375002@unknown@formal@none@1@S@The maker of farm equipment said the three-year labor agreement with the International Association of Machinists and Aerospace Workers at John Deere Horicon Works, Deere's primary facility for producing lawn and grounds-care equipment, takes effect immediately and extends through Oct. 1, 1992.@@@@1@42@@oe@2-2-2013
20375003@unknown@formal@none@1@S@About 1,150 employees are covered by the new agreement, Deere said.@@@@1@11@@oe@2-2-2013
20376001@unknown@formal@none@1@S@Courtaulds PLC announced plans to spin off its textiles operations to existing shareholders in a restructuring to boost shareholder value.@@@@1@20@@oe@2-2-2013
20376002@unknown@formal@none@1@S@The British chemical and textile company's plan, which requires shareholder approval, would create a new, listed U.K. stock with a probable market capitalization between #300 million ($473 million) and #400 million, analysts said.@@@@1@33@@oe@2-2-2013
20376003@unknown@formal@none@1@S@The establishment of the separate company, to be called Courtaulds Textiles, could be effective as early as next year's first quarter.@@@@1@21@@oe@2-2-2013
20376004@unknown@formal@none@1@S@Investors welcomed the move.@@@@1@4@@oe@2-2-2013
20376005@unknown@formal@none@1@S@Courtaulds' shares rose 15 pence to 362 pence, valuing the entire company at about #1.44 billion.@@@@1@16@@oe@2-2-2013
20376006@unknown@formal@none@1@S@Courtaulds' spinoff reflects pressure on British industry to boost share prices beyond the reach of corporate raiders.@@@@1@17@@oe@2-2-2013
20376007@unknown@formal@none@1@S@Courtaulds' restructuring is among the largest thus far in Britain, though it is dwarfed by B.A.T Industries PLC's plans to spin off roughly #4 billion in assets to help fend off a takeover bid from Anglo-French financier Sir James Goldsmith.@@@@1@40@@oe@2-2-2013
20376008@unknown@formal@none@1@S@The divested Courtaulds textile operations had operating profit of #50 million on #980 million in revenue in the year ended March 31.@@@@1@22@@oe@2-2-2013
20376009@unknown@formal@none@1@S@Some analysts have said Courtaulds' moves could boost the company's value by 5% to 10%, because the two entities separately will carry a higher price earnings multiple than they did combined.@@@@1@31@@oe@2-2-2013
20376010@unknown@formal@none@1@S@In addition, Courtaulds said the moves are logical because they will allow both the chemicals and textile businesses to focus more closely on core activities.@@@@1@25@@oe@2-2-2013
20376011@unknown@formal@none@1@S@Courtaulds has been under pressure to enhance shareholder value since takeover speculators -- including Australian financier Kerry Packer -- surfaced holding small stakes last year.@@@@1@25@@oe@2-2-2013
20376012@unknown@formal@none@1@S@Though Mr. Packer has since sold his stake, Courtaulds is moving to keep its institutional shareholders happy.@@@@1@17@@oe@2-2-2013
20376013@unknown@formal@none@1@S@Even without a specific takeover threat, Courtaulds is giving shareholders "choice and value," said Julia Blake, an analyst at London stockbrokers Barclays de Zoete Wedd.@@@@1@25@@oe@2-2-2013
20376014@unknown@formal@none@1@S@In a statement, the company said: "Both parts can only realize their full potential and be appropriately valued by the market if they are separately quoted companies.@@@@1@27@@oe@2-2-2013
20376015@unknown@formal@none@1@S@The sharper definition and the autonomy which each will thereby gain will benefit shareholders, customers and employees."@@@@1@17@@oe@2-2-2013
20376016@unknown@formal@none@1@S@Courtaulds Chairman and Chief Executive Sir Christopher Hogg will remain in both posts at the surviving chemical company after the spinoff.@@@@1@21@@oe@2-2-2013
20377001@unknown@formal@none@1@S@Sanwa Shutter Corp. said its affiliated company in Malaysia, established this April, will begin manufacturing steel doors Wednesday.@@@@1@18@@oe@2-2-2013
20377002@unknown@formal@none@1@S@Its partner in the joint venture is Sin Kean Boon Metal Industries, Penang, Malaysia.@@@@1@14@@oe@2-2-2013
20377003@unknown@formal@none@1@S@Company officials said the new company, Sin Kean Boon-Sanwa (J.V.) is capitalized at the equivalent of 54 million yen ($381,000).@@@@1@20@@oe@2-2-2013
20377004@unknown@formal@none@1@S@The Japanese concern has a 40% stake, while the local partner has a 60% stake.@@@@1@15@@oe@2-2-2013
20377005@unknown@formal@none@1@S@The new company was created to meet growing demand for steel doors, concurrent with increasing local concern about fire prevention, the company said.@@@@1@23@@oe@2-2-2013
20378001@unknown@formal@none@1@S@Barbara Hackman Franklin, president of Franklin Associates, was elected a director of this building products maker.@@@@1@16@@oe@2-2-2013
20378002@unknown@formal@none@1@S@Ms. Franklin, 49 years old, fills the position vacated by Naomi G. Albanese, who retired earlier this year at age 72.@@@@1@21@@oe@2-2-2013
20379001@unknown@formal@none@1@S@NEC Corp. said it plans to more than double its British subsidiary's capacity for the production of semiconductor wafers.@@@@1@19@@oe@2-2-2013
20379002@unknown@formal@none@1@S@Officials at the Japanese semiconductor maker said the company intends to increase investment in plant and equipment by 10 billion yen ($70.6 million), to 90 billion yen, in the year ending March 31, with the extra funds used to increase production overseas.@@@@1@42@@oe@2-2-2013
20379003@unknown@formal@none@1@S@Officials said they weren't sure how the money will be distributed among overseas units, but added that NEC Semiconductors U.K. Ltd. will receive priority.@@@@1@24@@oe@2-2-2013
20379004@unknown@formal@none@1@S@Officials also disclosed it's possible that NEC may reduce domestic production of one-megabit chips to five million a month from six million, beginning January, because of deteriorating market prices.@@@@1@29@@oe@2-2-2013
20380001@unknown@formal@none@1@S@Japan's steel exports fell 12.2% in September from a year earlier and were down 1.1% from the previous month, the Japan Iron and Steel Federation reported.@@@@1@26@@oe@2-2-2013
20380002@unknown@formal@none@1@S@September was the 10th consecutive month in which steel exports failed to reach the year-earlier level.@@@@1@16@@oe@2-2-2013
20380003@unknown@formal@none@1@S@A federation official attributed the decline to brisk demand from domestic industries backed by continuing economic expansion in Japan.@@@@1@19@@oe@2-2-2013
20380004@unknown@formal@none@1@S@Japanese steel companies are apparently focusing on domestic sales, but the official said it doesn't necessarily mean that local sales contracts are increasing that markedly.@@@@1@25@@oe@2-2-2013
20380005@unknown@formal@none@1@S@"They are just too busy to meet domestic demand and have little room for overseas shipments," the official said.@@@@1@19@@oe@2-2-2013
20400001@unknown@formal@none@1@S@After a bad start, Treasury bonds were buoyed by a late burst of buying to end modestly higher.@@@@1@18@@oe@2-2-2013
20400002@unknown@formal@none@1@S@"The market was pretty dull" for most of the day, said Robert H. Chandross, vice president at Lloyds Bank PLC.@@@@1@20@@oe@2-2-2013
20400003@unknown@formal@none@1@S@He said some investors were reluctant to plunge into the market ahead of several key economic indicators due this week, especially Friday's potentially market-moving employment report.@@@@1@26@@oe@2-2-2013
20400004@unknown@formal@none@1@S@During the first hour of trading yesterday, prices fell as much as 1/4 point, or down about $2.50 for each $1,000 face amount.@@@@1@23@@oe@2-2-2013
20400005@unknown@formal@none@1@S@But market activity was energized as investors started to view the lower price levels as attractive.@@@@1@16@@oe@2-2-2013
20400006@unknown@formal@none@1@S@And the Treasury's $17.6 billion auction of short-term bills, which generated strong buying interest, helped to lift the bond market out of the doldrums.@@@@1@24@@oe@2-2-2013
20400007@unknown@formal@none@1@S@"We saw good retail demand by small banks, individuals and institutions and that is one reason why the market advanced" late in the day, said Sung Won Sohn, senior vice president and chief economist at Norwest Corp., Minneapolis.@@@@1@38@@oe@2-2-2013
20400008@unknown@formal@none@1@S@He said the change in sentiment also reflected perceptions that the slate of economic statistic due this week will be "conducive to a bond market rally."@@@@1@26@@oe@2-2-2013
20400009@unknown@formal@none@1@S@The employment report, which will provide the first official measure of the economy's strength in October, is expected to show smaller gains in the generation of new jobs.@@@@1@28@@oe@2-2-2013
20400010@unknown@formal@none@1@S@Other key economic indicators due this week include today's release of the September leading indicators index and new-home sales.@@@@1@19@@oe@2-2-2013
20400011@unknown@formal@none@1@S@Tomorrow, the October purchasing managers report is due and on Thursday comes October chain-store sales.@@@@1@15@@oe@2-2-2013
20400012@unknown@formal@none@1@S@Despite yesterday's modest bond market gains, economists say investors are anxious about the Treasury's huge quarterly refunding of government debt, the timing of which depends on Congressional efforts to raise the debt ceiling.@@@@1@33@@oe@2-2-2013
20400013@unknown@formal@none@1@S@Although the Treasury will announce details of the November refunding tomorrow, it could be delayed if Congress and President Bush fail to increase the Treasury's borrowing capacity.@@@@1@27@@oe@2-2-2013
20400014@unknown@formal@none@1@S@The debt ceiling is scheduled to fall to $2.8 trillion from $2.87 trillion at midnight tonight.@@@@1@16@@oe@2-2-2013
20400015@unknown@formal@none@1@S@The Treasury's benchmark 30-year bond rose 1/8 point.@@@@1@8@@oe@2-2-2013
20400016@unknown@formal@none@1@S@Mortgage-backed securities were up less than 1/8 point and investment-grade corporate bonds were unchanged.@@@@1@14@@oe@2-2-2013
20400017@unknown@formal@none@1@S@Strong demand for New York City's $813 million general obligation bonds propped up the municipal market.@@@@1@16@@oe@2-2-2013
20400018@unknown@formal@none@1@S@Traders said most municipal bonds ended 1/2 point higher.@@@@1@9@@oe@2-2-2013
20400019@unknown@formal@none@1@S@The New York City issue included $757 million of tax-exempt bonds priced to yield between 6.50% to 7.88%, depending on the maturity.@@@@1@22@@oe@2-2-2013
20400020@unknown@formal@none@1@S@The $56 million of New York's taxable general obligation bonds were priced to yield between 9.125% to 9.90%.@@@@1@18@@oe@2-2-2013
20400021@unknown@formal@none@1@S@As expected, the longer-term tax-exempt New York bonds had yields nearly as high as those on taxable long-term Treasury bonds.@@@@1@20@@oe@2-2-2013
20400022@unknown@formal@none@1@S@The yield on the benchmark 30-year Treasury bond ended yesterday at about 7.92%.@@@@1@13@@oe@2-2-2013
20400023@unknown@formal@none@1@S@Bond dealers said the rates for the long-term tax-exempt New York City bonds were among the highest, as a percentage of Treasury rates, for any New York City issue in recent memory.@@@@1@32@@oe@2-2-2013
20400024@unknown@formal@none@1@S@A spokesman for New York City Comptroller Harrison Goldin said the high rates reflect investors concerns about the city's financial health and political uncertainties.@@@@1@24@@oe@2-2-2013
20400025@unknown@formal@none@1@S@New York bonds, which have been hammered in recent weeks on the pending supply and reports that the city's economy is growing weaker, rose 1/2 point yesterday.@@@@1@27@@oe@2-2-2013
20400026@unknown@formal@none@1@S@Treasury Securities@@@@1@2@@oe@2-2-2013
20400027@unknown@formal@none@1@S@Treasury bonds ended slightly higher in light trading.@@@@1@8@@oe@2-2-2013
20400028@unknown@formal@none@1@S@The benchmark 30-year bond ended at 102 7/32 to yield 7.92%, compared with Friday's price of 102 2/32 to yield 7.93%.@@@@1@21@@oe@2-2-2013
20400029@unknown@formal@none@1@S@The latest 10-year notes ended at about 100 16/32 to yield 7.90%, compared with 100 11/32 to yield 7.93% on Friday.@@@@1@21@@oe@2-2-2013
20400030@unknown@formal@none@1@S@Short-term interest rates rose at the government's regular weekly Treasury-bill auction.@@@@1@11@@oe@2-2-2013
20400031@unknown@formal@none@1@S@The average discount rate on three-month bills was 7.78% and the rate on six-month bills was 7.62%.@@@@1@17@@oe@2-2-2013
20400032@unknown@formal@none@1@S@Those rates are up from 7.52% and 7.50%, respectively, at last week's auction.@@@@1@13@@oe@2-2-2013
20400033@unknown@formal@none@1@S@Due to the Treasury's need to raise funds quickly before the current authority to issue debt expires at midnight tonight, yesterday's auction was structured differently from previous sales.@@@@1@28@@oe@2-2-2013
20400034@unknown@formal@none@1@S@The Treasury bills sold yesterday settle today, rather than the standard settlement day of Thursday.@@@@1@15@@oe@2-2-2013
20400035@unknown@formal@none@1@S@And because of the early settlement, the three-month bills actually have a 93-day maturity, and the six-month bills have an 184-day maturity.@@@@1@22@@oe@2-2-2013
20400036@unknown@formal@none@1@S@Because of the early settlement, the Federal Reserve was unable to purchase bills for its system account.@@@@1@17@@oe@2-2-2013
20400037@unknown@formal@none@1@S@However, analysts expect the Fed to buy Treasury bills that were auctioned yesterday in the secondary market.@@@@1@17@@oe@2-2-2013
20400038@unknown@formal@none@1@S@The Treasury also held a hastily scheduled $2 billion sale of 51-cash management bills yesterday.@@@@1@15@@oe@2-2-2013
20400039@unknown@formal@none@1@S@Here are details of yesterday's three-month and six-month bill auction:@@@@1@10@@oe@2-2-2013
20400040@unknown@formal@none@1@S@Rates are determined by the difference between the purchase price and face value.@@@@1@13@@oe@2-2-2013
20400041@unknown@formal@none@1@S@Thus, higher bidding narrows the investor's return while lower bidding widens it.@@@@1@12@@oe@2-2-2013
20400042@unknown@formal@none@1@S@The percentage rates are calculated on a 360-day year, while the coupon equivalent yield is based on a 365-day year.@@@@1@20@@oe@2-2-2013
20400043@unknown@formal@none@1@S@Both issues are dated Oct. 31.@@@@1@6@@oe@2-2-2013
20400044@unknown@formal@none@1@S@The 13-week bills mature Feb. 1, and the 26-week bills mature May 3, 1990.@@@@1@14@@oe@2-2-2013
20400045@unknown@formal@none@1@S@Here are details of yesterday's 51-day cash management bill auction:@@@@1@10@@oe@2-2-2013
20400046@unknown@formal@none@1@S@Interest rate 8.07%@@@@1@3@@oe@2-2-2013
20400047@unknown@formal@none@1@S@The bills are dated Oct. 31 and mature Dec. 21, 1989.@@@@1@11@@oe@2-2-2013
20400048@unknown@formal@none@1@S@Corporate Issues@@@@1@2@@oe@2-2-2013
20400049@unknown@formal@none@1@S@The junk bond prices of Western Union Corp. tumbled after the company said it won't proceed with an exchange offer to holders of its reset notes.@@@@1@26@@oe@2-2-2013
20400050@unknown@formal@none@1@S@The Upper Saddle River, N.J., communications firm said it is considering alternatives to the restructuring of the senior secured notes because of changes in the high-yield market.@@@@1@27@@oe@2-2-2013
20400051@unknown@formal@none@1@S@In June, Western Union was forced to reset the interest rate on the senior secured notes due in 1992 to 19 1/4% from 16 1/2%, a move which increased the firm's annual interest payments by $13.8 million.@@@@1@37@@oe@2-2-2013
20400052@unknown@formal@none@1@S@Although the notes held at a price of 92 to 93 immediately after the reset, they started falling soon afterward.@@@@1@20@@oe@2-2-2013
20400053@unknown@formal@none@1@S@Yesterday, Western Union's senior secured reset notes fell 3 3/4 points, or about $37.50 for each $1,000 face amount, to close at 50 1/4.@@@@1@24@@oe@2-2-2013
20400054@unknown@formal@none@1@S@Other Western Union securities were also lower.@@@@1@7@@oe@2-2-2013
20400055@unknown@formal@none@1@S@The company's 7.90% sinking fund debentures were quoted at a bid price of 14 1/4 and an offered price of 30, while the 10 3/4% subordinated debentures of 1997 were being bid for at 28 and offered at around 34 3/4.@@@@1@41@@oe@2-2-2013
20400056@unknown@formal@none@1@S@The 10 3/4% debentures last traded at 35.@@@@1@8@@oe@2-2-2013
20400057@unknown@formal@none@1@S@High-yield traders said spreads between the bid and offered prices of Western Union junk bonds have been widening for some time, and in certain cases, bids for Western Union securities are not available.@@@@1@33@@oe@2-2-2013
20400058@unknown@formal@none@1@S@Elsewhere, prices of investment-grade and high-risk, high-yield junk bonds ended unchanged.@@@@1@11@@oe@2-2-2013
20400059@unknown@formal@none@1@S@In the new-issue market for junk securities, underwriters at Salomon Brothers Inc. are expected to price today a $350 million junk bond offering by Beatrice Co..@@@@1@26@@oe@2-2-2013
20400060@unknown@formal@none@1@S@The two-part issue consists of $200 million of senior subordinated reset notes maturing in 1997 and $150 million of subordinated floating rate notes also maturing in 1997.@@@@1@27@@oe@2-2-2013
20400061@unknown@formal@none@1@S@Portfolio managers said expectations are for the issue to be priced at a discount with a coupon of 13 3/4% and a yield of about 14%.@@@@1@26@@oe@2-2-2013
20400062@unknown@formal@none@1@S@The Chicago-based food and consumer goods concern was acquired in April 1986 in a $6.2 billion leveraged buy-out engineered by Kohlberg Kravis Roberts & Co.@@@@1@25@@oe@2-2-2013
20400063@unknown@formal@none@1@S@Proceeds from the note sale will be used to repay a portion of the bank borrowings used by Beatrice to redeem its $526.3 million principal amount of increasing rate debentures in August.@@@@1@32@@oe@2-2-2013
20400064@unknown@formal@none@1@S@Meanwhile, underwriters at Morgan Stanley & Co. are expected today to price a $350 million high-yield offering by Continental Cablevision Inc.@@@@1@21@@oe@2-2-2013
20400065@unknown@formal@none@1@S@The senior subordinated debentures maturing in 2004 are targeted to be offered at a yield of between 12 5/8% to 12 3/4%.@@@@1@22@@oe@2-2-2013
20400066@unknown@formal@none@1@S@Mortgage-Backed Securities@@@@1@2@@oe@2-2-2013
20400067@unknown@formal@none@1@S@Mortgage securities ended 2/32 to 4/32 higher in light trading.@@@@1@10@@oe@2-2-2013
20400068@unknown@formal@none@1@S@Ginnie Mae's 9% issue for November delivery finished at 98 1/2, up 4/32, and its 10% issue at 102 3/8, up 4/32.@@@@1@22@@oe@2-2-2013
20400069@unknown@formal@none@1@S@Freddie Mac's 9% issue ended at 97 19/32, up 2/32.@@@@1@10@@oe@2-2-2013
20400070@unknown@formal@none@1@S@In the derivative market, insurance companies have scaled back their purchases of Remic securities, or real estate mortgage investment conduits, as they assess potential claims from the recent California earthquake and hurricane in the Carolinas.@@@@1@35@@oe@2-2-2013
20400071@unknown@formal@none@1@S@This could mean diminished issuance of derivative mortgage issues during the next few weeks.@@@@1@14@@oe@2-2-2013
20400072@unknown@formal@none@1@S@Insurance companies have been major buyers of prepayment-protected planned amortization classes (PACs) during the past few months.@@@@1@17@@oe@2-2-2013
20400073@unknown@formal@none@1@S@The PACs appeal to insurance companies and other investors because they have higher yields than topgrade corporate bonds and carry the guarantee of Freddie Mac and Fannie Mae, quasi-federal agencies.@@@@1@30@@oe@2-2-2013
20400074@unknown@formal@none@1@S@In the asset-backed market, Beneficial Corp. offered $248 million of securities backed by home-equity loans, the second large deal in the past week.@@@@1@23@@oe@2-2-2013
20400075@unknown@formal@none@1@S@Last week, a unit of MNC Financial Corp. offered $268 million of home-equity securities.@@@@1@14@@oe@2-2-2013
20400076@unknown@formal@none@1@S@Both the MNC and Beneficial offering were underwritten by Merrill Lynch Capital Markets, the leading Wall Street firm in the home-equity securities market, which was created early this year.@@@@1@29@@oe@2-2-2013
20400077@unknown@formal@none@1@S@Municipal Issues@@@@1@2@@oe@2-2-2013
20400078@unknown@formal@none@1@S@The improved tone in the municipal market, largely an offshoot of the New York City sale's reception, helped municipal futures rebound from early lows, but the spread between the contract and Tbond futures continued to grow more negative.@@@@1@38@@oe@2-2-2013
20400079@unknown@formal@none@1@S@The MOB spread, or difference between the municipal and T-bond futures contracts, has been near all-time lows in recent trading, driven basically by concerns that new-issue supply would overwhelm demand.@@@@1@30@@oe@2-2-2013
20400080@unknown@formal@none@1@S@December municipal futures ended up 11/32 point to 92-14, having pulled off a morning low of 91-23 as cash municipals rebounded.@@@@1@21@@oe@2-2-2013
20400081@unknown@formal@none@1@S@But front month T-bond futures settled the afternoon session up a slightly greater 13/32 at 99-04.@@@@1@16@@oe@2-2-2013
20400082@unknown@formal@none@1@S@Foreign Bonds@@@@1@2@@oe@2-2-2013
20400083@unknown@formal@none@1@S@British government bonds ended moderately higher, encouraged by a steadier pound and a rise in British stocks.@@@@1@17@@oe@2-2-2013
20400084@unknown@formal@none@1@S@The benchmark 11 3/4% bond due 2003/2007 rose 10/32 to 111 14/32 to yield 10.14%, while the Treasury's 12% notes due 1995 rose 7/32 to 103 5/8 to yield 11.04%.@@@@1@30@@oe@2-2-2013
20400085@unknown@formal@none@1@S@West German government bonds fell as much as 0.60 point in light, nervous trading.@@@@1@14@@oe@2-2-2013
20400086@unknown@formal@none@1@S@The 7% Treasury bond due October 1999 ended off 0.60 point to 99.35 to yield 7.09%, while the 6 3/4% notes due 1994 fell 0.35 point to 97.25 to yield 7.45%.@@@@1@31@@oe@2-2-2013
20400087@unknown@formal@none@1@S@Japanese government bonds continued to erode as the dollar remained resilient against the yen.@@@@1@14@@oe@2-2-2013
20400088@unknown@formal@none@1@S@Japan's No. 111 4.6% bond due 1998 ended the day on brokers screens at 95.11 to yield 5.43%.@@@@1@18@@oe@2-2-2013
20401001@unknown@formal@none@1@S@So-called cross-border acquisitions totaled $23.1 billion in the second quarter, down from $33.6 billion a year earlier, according to the accounting firm KPMG Peat Marwick.@@@@1@25@@oe@2-2-2013
20401002@unknown@formal@none@1@S@In a cross-border transaction, the buyer is in a different region of the globe from the target.@@@@1@17@@oe@2-2-2013
20401003@unknown@formal@none@1@S@Such transactions numbered 670 in the second quarter, up from 527 a year earlier.@@@@1@14@@oe@2-2-2013
20401004@unknown@formal@none@1@S@However, the total value declined for deals of $100 million and up.@@@@1@12@@oe@2-2-2013
20401005@unknown@formal@none@1@S@The downturn in total value may be only temporary, suggested Herb Adler, a KPMG Peat Marwick partner.@@@@1@17@@oe@2-2-2013
20401006@unknown@formal@none@1@S@He explained, in part, that restructuring to prepare for the Common Market expansion due in 1992 "has become more of a strategic priority, both for companies inside and outside the European Community."@@@@1@32@@oe@2-2-2013
20401007@unknown@formal@none@1@S@In the second quarter, middle-market cross-border transactions -- deals under $100 million each -- numbered 619 and totaled $6 billion, compared with 478 such transactions totaling $4.9 billion a year earlier, the firm said.@@@@1@34@@oe@2-2-2013
20401008@unknown@formal@none@1@S@Large cross-border deals numbered 51 and totaled $17.1 billion in the second quarter, the firm added.@@@@1@16@@oe@2-2-2013
20401009@unknown@formal@none@1@S@That compared with 49 such transactions totaling $28.7 billion as year earlier.@@@@1@12@@oe@2-2-2013
20402001@unknown@formal@none@1@S@Rymer Foods Inc. said its board authorized the purchase of as many as 500,000 of its common stock purchase warrants at a price of $4 a warrant.@@@@1@27@@oe@2-2-2013
20402002@unknown@formal@none@1@S@The food company, which has 720,000 warrants and about 2.9 million common shares outstanding, said it may increase the offer to purchase any or all warrants that are properly tendered.@@@@1@30@@oe@2-2-2013
20402003@unknown@formal@none@1@S@A warrant permits a holder to acquire one share of common stock for $17.50 a share.@@@@1@16@@oe@2-2-2013
20402004@unknown@formal@none@1@S@The warrants expire on Oct. 15, 1992, and may be called by the company at a price of $5.25.@@@@1@19@@oe@2-2-2013
20402005@unknown@formal@none@1@S@The offer is scheduled to expire on Nov. 28, unless extended.@@@@1@11@@oe@2-2-2013
20402006@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Rymer closed yesterday at $10.875, down 12.5 cents.@@@@1@15@@oe@2-2-2013
20403001@unknown@formal@none@1@S@Seasonal Stackup@@@@1@2@@oe@2-2-2013
20403002@unknown@formal@none@1@S@Air-traffic problems, though often quite grim, This time of year leave us in stitches, When we notice around our airport A holding pattern for witches.@@@@1@25@@oe@2-2-2013
20403003@unknown@formal@none@1@S@-- Edward F. Dempsey.@@@@1@4@@oe@2-2-2013
20403004@unknown@formal@none@1@S@Double-Jointed@@@@1@1@@oe@2-2-2013
20403005@unknown@formal@none@1@S@"I am beside myself," I've said in moments of heat, Without ever bothering To marvel at the feat.@@@@1@18@@oe@2-2-2013
20403006@unknown@formal@none@1@S@-- Joshua Adams.@@@@1@3@@oe@2-2-2013
20403007@unknown@formal@none@1@S@Humility Helper@@@@1@2@@oe@2-2-2013
20403008@unknown@formal@none@1@S@The ultimate blow to the ego is learning that even your mistakes go unnoticed.@@@@1@14@@oe@2-2-2013
20403009@unknown@formal@none@1@S@-- Ivern Ball.@@@@1@3@@oe@2-2-2013
20404001@unknown@formal@none@1@S@Gen-Probe Inc., a biotechnology concern, said it signed a definitive agreement to be acquired by Chugai Pharmaceutical Co. of Tokyo for about $110 million, or almost double the market price of Gen-Probe's stock.@@@@1@33@@oe@2-2-2013
20404002@unknown@formal@none@1@S@The move is sure to heighten concerns about increased Japanese investment in U.S. biotechnology firms.@@@@1@15@@oe@2-2-2013
20404003@unknown@formal@none@1@S@It is also likely to bolster fears that the Japanese will use their foothold in U.S. biotechnology concerns to gain certain trade and competitive advantages.@@@@1@25@@oe@2-2-2013
20404004@unknown@formal@none@1@S@Gen-Probe, an industry leader in the field of genetic probes, which is a new technology used in diagnostic tests, last year signed an agreement for Chugai to exclusively market its diagnostic products in Japan for infectious diseases and cancer.@@@@1@39@@oe@2-2-2013
20404005@unknown@formal@none@1@S@Chugai agreed then to fund certain associated research and development costs.@@@@1@11@@oe@2-2-2013
20404006@unknown@formal@none@1@S@That arrangement apparently has worked well, and Thomas A. Bologna, president and chief executive officer of Gen-Probe, founded in 1983, said the sale of the company means "we will be able to concentrate on running the business rather than always looking for sources of financing."@@@@1@45@@oe@2-2-2013
20404007@unknown@formal@none@1@S@Chugai agreed to pay $6.25 a share for Gen-Probe's 17.6 million common shares outstanding on a fully diluted basis.@@@@1@19@@oe@2-2-2013
20404008@unknown@formal@none@1@S@Yesterday, in national trading in the over-the-counter market, Gen-Probe common closed at $3.25 a share.@@@@1@15@@oe@2-2-2013
20404009@unknown@formal@none@1@S@Because the U.S. leads in most areas of biotechnology -- largely because of research investment by the U.S. government -- the sale is sure to increase concerns that Japanese companies will buy American know-how and use it to obtain the upper hand in biotechnology trade and competition.@@@@1@47@@oe@2-2-2013
20404010@unknown@formal@none@1@S@"The biotechnology firms may be setting up their own competitors," said Richard Godown, president of the Industrial Biotechnology Association.@@@@1@19@@oe@2-2-2013
20404011@unknown@formal@none@1@S@He added that until now the Japanese have only acquired equity positions in U.S. biotechnology companies.@@@@1@16@@oe@2-2-2013
20404012@unknown@formal@none@1@S@"They are piggybacking onto developed technology," he said.@@@@1@8@@oe@2-2-2013
20404013@unknown@formal@none@1@S@During the past five years, Japanese concerns have invested in several of the U.S.'s 431 independent biotechnology companies.@@@@1@18@@oe@2-2-2013
20404014@unknown@formal@none@1@S@Chugai has been one of the most active Japanese players in U.S. biotechnology companies; it has an equity investment in Genetics Institute Inc., Cambridge, Mass., and a joint-venture agreement with Upjohn Co., Kalamazoo, Mich.@@@@1@34@@oe@2-2-2013
20404015@unknown@formal@none@1@S@The Japanese government, Mr. Godown said, has stated that it wants 10% to 11% of its gross national product to come from biotechnology products.@@@@1@24@@oe@2-2-2013
20404016@unknown@formal@none@1@S@"It is becoming more of a horse race every day between the U.S. and Japan," he said, adding that some fear that as with the semiconductor, electronics, and automobile industries, Japanese companies will use U.S.-developed technology to gain trade advantages.@@@@1@40@@oe@2-2-2013
20404017@unknown@formal@none@1@S@Mr. Bologna said the sale would allow Gen-Probe to speed up the development of new technology, and to more quickly apply existing technology to an array of diagnostic products the company wants to offer.@@@@1@34@@oe@2-2-2013
20404018@unknown@formal@none@1@S@By 1988, when only 10 genetic probe-based tests of diagnostic infectious diseases of humans had been approved for marketing by the Food and Drug Administration, eight of them had been developed and sold by Gen-Probe.@@@@1@35@@oe@2-2-2013
20404019@unknown@formal@none@1@S@Osamu Nagayama, deputy president of Chugai, which spends about 15% of its sales on research and development, was unable to pinpoint how much money Chugai would pump into Gen-Probe.@@@@1@29@@oe@2-2-2013
20404020@unknown@formal@none@1@S@"We think Gen-Probe has technology important to people's health," he said, adding: "We think it is important for us to have such technology."@@@@1@23@@oe@2-2-2013
20404021@unknown@formal@none@1@S@He and Mr. Bologna emphasized that both companies would gain technological knowledge through the sale of Gen-Probe, which will expand "significantly" as a result of the acquisition.@@@@1@27@@oe@2-2-2013
20404022@unknown@formal@none@1@S@In 1988, Chugai had net income of $60 million on revenue of $991 million.@@@@1@14@@oe@2-2-2013
20404023@unknown@formal@none@1@S@GenProbe had a net loss of $9.5 million on revenue of $5.8 million.@@@@1@13@@oe@2-2-2013
20404024@unknown@formal@none@1@S@Recently, Gen-Probe received a broad U.S. patent for a technology that helps detect, identify and quantify non-viral organisms through the targeting of a form of genetic material called ribosomal RNA.@@@@1@30@@oe@2-2-2013
20404025@unknown@formal@none@1@S@Among other things, Mr. Bologna said that the sale will facilitate Gen-Probe's marketing of a diagnostic test for acquired immune deficiency syndrome, or AIDS.@@@@1@24@@oe@2-2-2013
20404026@unknown@formal@none@1@S@Chugai also will help Gen-Probe with its regulatory and marketing expertise in Asia, Mr. Bologna said.@@@@1@16@@oe@2-2-2013
20404027@unknown@formal@none@1@S@The tender offer for Gen-Probe's shares is expected to begin next Monday, the company said.@@@@1@15@@oe@2-2-2013
20405001@unknown@formal@none@1@S@It was supposed to be a routine courtesy call.@@@@1@9@@oe@2-2-2013
20405002@unknown@formal@none@1@S@A half-dozen Soviet space officials, in Tokyo in July for an exhibit, stopped by to see their counterparts at the National Space Development Agency of Japan.@@@@1@26@@oe@2-2-2013
20405003@unknown@formal@none@1@S@But after a few pleasantries, the Soviets unexpectedly got serious.@@@@1@10@@oe@2-2-2013
20405004@unknown@formal@none@1@S@The Soviets have a world-leading space program, the guests noted.@@@@1@10@@oe@2-2-2013
20405005@unknown@formal@none@1@S@Wouldn't the Japanese like a piece of it?@@@@1@8@@oe@2-2-2013
20405006@unknown@formal@none@1@S@The visitors then listed technologies up for sale, including launch services and propulsion hardware.@@@@1@14@@oe@2-2-2013
20405007@unknown@formal@none@1@S@"We were just surprised," says Tad Inada, NASDA's director for international affairs.@@@@1@12@@oe@2-2-2013
20405008@unknown@formal@none@1@S@"Shocked."@@@@1@1@@oe@2-2-2013
20405009@unknown@formal@none@1@S@That Moscow, with its dilapidated economic machine, would try to sell high technology to Japan, one of the world's high-tech leaders, sounds like a coals-to-Newcastle notion.@@@@1@26@@oe@2-2-2013
20405010@unknown@formal@none@1@S@But "the Soviet Union has areas where it isn't behind Japan," says Mikhail Shapovalov of the Soviet Ministry of Foreign Economic Relations.@@@@1@22@@oe@2-2-2013
20405011@unknown@formal@none@1@S@"We have obtained through the development of Cosmos {the Soviet space program} technologies you don't see anywhere else."@@@@1@18@@oe@2-2-2013
20405012@unknown@formal@none@1@S@The sales pitch mightn't be as farfetched as it seems.@@@@1@10@@oe@2-2-2013
20405013@unknown@formal@none@1@S@Japan-U.S. trade relations are bumpy these days, and some Japanese favor decreasing their reliance on U.S. technology in light of the FSX fighter-plane flap, when U.S. officials reversed an earlier decision and refused to share certain crucial fighter-plane technology.@@@@1@39@@oe@2-2-2013
20405014@unknown@formal@none@1@S@And, despite its image as a technology superpower, Japan has a lot of weaknesses.@@@@1@14@@oe@2-2-2013
20405015@unknown@formal@none@1@S@It's a world leader in semiconductors, but behind the U.S. in making the computers that use those chips.@@@@1@18@@oe@2-2-2013
20405016@unknown@formal@none@1@S@It's a world leader in auto manufacturing, but its aviation industry is struggling, and its space program is years behind the U.S., the Europeans and the Soviets.@@@@1@27@@oe@2-2-2013
20405017@unknown@formal@none@1@S@One question being debated in the Soviet Union is how to use the defense sector's research-and-production expertise in the rest of the economy.@@@@1@23@@oe@2-2-2013
20405018@unknown@formal@none@1@S@Many plants that used to make military equipment are now being ordered to produce televisions, videocassette recorders, small tractors and food-processing machinery.@@@@1@22@@oe@2-2-2013
20405019@unknown@formal@none@1@S@The Soviets also hope to make better use of their considerable expertise in theoretical science, which has helped them win twice as many Nobel science prizes as the Japanese.@@@@1@29@@oe@2-2-2013
20405020@unknown@formal@none@1@S@Where they lag behind the Japanese is in turning the scientific inventiveness into improved production.@@@@1@15@@oe@2-2-2013
20405021@unknown@formal@none@1@S@By contrast, the Japanese have proved adept at making use of Soviet inventions.@@@@1@13@@oe@2-2-2013
20405022@unknown@formal@none@1@S@Kobe Steel Ltd. adopted Soviet casting technology in 1966 and used it for 14 years until it developed its own system.@@@@1@21@@oe@2-2-2013
20405023@unknown@formal@none@1@S@Kawasaki Steel Corp. bought a Soviet steel-casting patent two years ago and has jointly developed the system with the Soviets.@@@@1@20@@oe@2-2-2013
20405024@unknown@formal@none@1@S@In 1991, the Soviets will take a Japanese journalist into space, the first Japanese to go into orbit.@@@@1@18@@oe@2-2-2013
20405025@unknown@formal@none@1@S@Soviet efforts to sell their technology abroad don't appear to worry the U.S., Japan's principal ally.@@@@1@16@@oe@2-2-2013
20405026@unknown@formal@none@1@S@"We have never opposed the development of economic relations between our allies and the Soviet Union," says a State Department official.@@@@1@21@@oe@2-2-2013
20405027@unknown@formal@none@1@S@"Frankly, I wouldn't expect the Japanese to get hooked on anybody's technology, least of all the Soviets."@@@@1@17@@oe@2-2-2013
20405028@unknown@formal@none@1@S@Under Mikhail Gorbachev's perestroika, the Soviets have sought economic ties all over the world, including new export markets.@@@@1@18@@oe@2-2-2013
20405029@unknown@formal@none@1@S@They believe technology is one of their best bets, and some Soviet officials say Moscow will even consider declassifying military know-how if the price is right.@@@@1@26@@oe@2-2-2013
20405030@unknown@formal@none@1@S@The Soviets held export exhibitions that included high-tech items in New York and West Germany.@@@@1@15@@oe@2-2-2013
20405031@unknown@formal@none@1@S@Last week, a Soviet delegation came to Japan to push more space technologies.@@@@1@13@@oe@2-2-2013
20405032@unknown@formal@none@1@S@Japan is a major target for the Soviets.@@@@1@8@@oe@2-2-2013
20405033@unknown@formal@none@1@S@In August, representatives of Keidanren, Japan's largest business organization, visited Moscow to explore exports and investments that would help the Soviet economy.@@@@1@22@@oe@2-2-2013
20405034@unknown@formal@none@1@S@Out of the blue, the Soviet Chamber of Commerce handed over details on 59 technologies that the Japanese might want to buy.@@@@1@22@@oe@2-2-2013
20405035@unknown@formal@none@1@S@These mainly involved such areas as materials -- advanced soldering machines, for example -- and medical developments derived from experimentation in space, such as artificial blood vessels.@@@@1@27@@oe@2-2-2013
20405036@unknown@formal@none@1@S@A main motive is hard cash.@@@@1@6@@oe@2-2-2013
20405037@unknown@formal@none@1@S@But, while the Soviets can't expect direct technology flow from Japan, they also hope to benefit from Japanese manufacturing expertise.@@@@1@20@@oe@2-2-2013
20405038@unknown@formal@none@1@S@"The Soviet Union has a lot of know-how, but it has been difficult to put that into actual production because of various structural problems in the economy," says Mr. Shapovalov, the Foreign Ministry official.@@@@1@34@@oe@2-2-2013
20405039@unknown@formal@none@1@S@The Soviets are "contemplating a flexible system under which it would be possible to develop {technology} jointly and even to market it jointly," he says.@@@@1@25@@oe@2-2-2013
20405040@unknown@formal@none@1@S@Even if the Japanese find Soviet technology desirable, such discussions would be fraught with political complications.@@@@1@16@@oe@2-2-2013
20405041@unknown@formal@none@1@S@Still stinging from the international backlash over the sale two years ago of sensitive military technology to the Soviets by a subsidiary of Japan's Toshiba Corp., many Japanese are eager to avoid appearing to help the Soviets in any way.@@@@1@40@@oe@2-2-2013
20405042@unknown@formal@none@1@S@Another hurdle concerns Japan's attempts to persuade the Soviet Union to relinquish its post-World War II control of four islands north of Japan.@@@@1@23@@oe@2-2-2013
20405043@unknown@formal@none@1@S@So far, the Soviets have provided only the sketchiest information about their technology and business plans.@@@@1@16@@oe@2-2-2013
20405044@unknown@formal@none@1@S@And what they have shown isn't impressive.@@@@1@7@@oe@2-2-2013
20405045@unknown@formal@none@1@S@"My impression is that there isn't anything which arouses our interest at first glance," says an official from Japan's Ministry of International Trade and Industry.@@@@1@25@@oe@2-2-2013
20405046@unknown@formal@none@1@S@Peter Gumbel in Moscow contributed to this article.@@@@1@8@@oe@2-2-2013
20406001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
20406002@unknown@formal@none@1@S@MAY 1, 1975, SIGNALED A DISTRESSFUL May Day for securities houses, which were forced to end 183 years of charging fixed commissions.@@@@1@22@@oe@2-2-2013
20406003@unknown@formal@none@1@S@It scared brokers, but most survived.@@@@1@6@@oe@2-2-2013
20406004@unknown@formal@none@1@S@It took effect after seven years of bitter debate between the Securities and Exchange Commission and traders and exchanges.@@@@1@19@@oe@2-2-2013
20406005@unknown@formal@none@1@S@Despite warnings from such leaders as former Federal Reserve Board Chairman William McChesney Martin that unfixed commissions would undo the industry, the SEC in September 1973 said full competition must start May l, 1975.@@@@1@34@@oe@2-2-2013
20406006@unknown@formal@none@1@S@The timing for change was right.@@@@1@6@@oe@2-2-2013
20406007@unknown@formal@none@1@S@Institutions had become active market players in the early 1970s and sought exchange seats to handle their own trades.@@@@1@19@@oe@2-2-2013
20406008@unknown@formal@none@1@S@And the industry was rife with brokers trying to secure big client orders by using kickbacks, gifts, women and junkets.@@@@1@20@@oe@2-2-2013
20406009@unknown@formal@none@1@S@Within three weeks of the 1975 end to fixed rates there were all-out price wars among brokers fighting for institutional business, with rate slashes of 35% to 60% below pre-May 1 levels.@@@@1@32@@oe@2-2-2013
20406010@unknown@formal@none@1@S@Ray Garrett Jr., SEC chairman, said the "breadth and depth of the discounting is more than I expected."@@@@1@18@@oe@2-2-2013
20406011@unknown@formal@none@1@S@Even a federal measure in June allowing houses to add research fees to their commissions didn't stop it.@@@@1@18@@oe@2-2-2013
20406012@unknown@formal@none@1@S@Longer term, the impact is unclear.@@@@1@6@@oe@2-2-2013
20406013@unknown@formal@none@1@S@The change prompted the rise of discount brokers and a reduction in securities research firms.@@@@1@15@@oe@2-2-2013
20406014@unknown@formal@none@1@S@But there are currently more exchange members than in 1975, with the bigger houses gaining a larger share of total commissions.@@@@1@21@@oe@2-2-2013
20406015@unknown@formal@none@1@S@Commissions, however, account for a smaller share of investment-house business as takeover advisory fees have soared.@@@@1@16@@oe@2-2-2013
20406016@unknown@formal@none@1@S@Foreign stock markets, with which the U.S. is entwined, also have ended fixed commissions in recent years.@@@@1@17@@oe@2-2-2013
20406017@unknown@formal@none@1@S@It came in London's "Big Bang" 1986 deregulation; and Toronto's "Little Bang" the same year.@@@@1@15@@oe@2-2-2013
20406018@unknown@formal@none@1@S@Paris is currently phasing out fixed commissions under its "Le Petit Bang" plan.@@@@1@13@@oe@2-2-2013
20407001@unknown@formal@none@1@S@President Bush said that three members of his cabinet will lead a presidential mission to Poland to gauge how the U.S. can help the new non-Communist government's economic changes.@@@@1@29@@oe@2-2-2013
20407002@unknown@formal@none@1@S@Mr. Bush announced several weeks ago that he intended to send such a mission, composed of top government aides and business and labor leaders.@@@@1@24@@oe@2-2-2013
20407003@unknown@formal@none@1@S@The mission will visit Poland from Nov. 29 to Dec. 2, the White House said.@@@@1@15@@oe@2-2-2013
20407004@unknown@formal@none@1@S@In remarks at a White House ceremony marking Polish Heritage Month, Mr. Bush announced that Agriculture Secretary Clayton Yeutter, Commerce Secretary Robert Mosbacher and Labor Secretary Elizabeth Dole will lead the U.S. group.@@@@1@33@@oe@2-2-2013
20407005@unknown@formal@none@1@S@Michael Boskin, chairman of the Council of Economic Advisers, also will be a member.@@@@1@14@@oe@2-2-2013
20407006@unknown@formal@none@1@S@In addition, the White House said that Charles Harper, chairman of ConAgra Inc., and John McGillicuddy, chairman of Manufacturers Hanover Corp., will be among a group of at least 15 business and labor representatives in the presidential mission.@@@@1@38@@oe@2-2-2013
20407007@unknown@formal@none@1@S@Mr. Bush said the group is to "focus on economic sectors where U.S. expertise and cooperation can indeed make a difference."@@@@1@21@@oe@2-2-2013
20407008@unknown@formal@none@1@S@Mr. Bush has asked Congress to provide more than $400 million in economic aid and food grants for Poland's new government, but has been chided by Democrats for failing to do more.@@@@1@32@@oe@2-2-2013
20408001@unknown@formal@none@1@S@Warner Communications Inc. is close to an agreement to back a new recorded music and music publishing company in partnership with Irving Azoff, who resigned in September as head of MCA Inc.'s MCA Records unit.@@@@1@35@@oe@2-2-2013
20408002@unknown@formal@none@1@S@Warner and Mr. Azoff declined comment, as did MCA, where Mr. Azoff had also been discussing such a venture.@@@@1@19@@oe@2-2-2013
20408003@unknown@formal@none@1@S@But record industry executives familiar with the talks said Mr. Azoff and Warner came to an agreement yesterday to form a 50-50 joint-venture company funded by Warner and run by Mr. Azoff.@@@@1@32@@oe@2-2-2013
20408004@unknown@formal@none@1@S@Among other things, they said, Mr. Azoff would develop musical acts for a new record label.@@@@1@16@@oe@2-2-2013
20408005@unknown@formal@none@1@S@The agreement is said to be similar to Warner's 50-50 partnership with record and movie producer David Geffen, whose films and records are distributed by the Warner Bros. studio and the Warner records unit.@@@@1@34@@oe@2-2-2013
20408006@unknown@formal@none@1@S@Although Mr. Azoff won't produce films at first, it is possible that he could do so later, the sources said.@@@@1@20@@oe@2-2-2013
20408007@unknown@formal@none@1@S@Like Mr. Geffen's arrangement, the venture gives Mr. Azoff a link to the world's largest and most successful record distributor; in the U.S. alone, Warner has a 40% share of the market, about double its nearest competitor, Sony Corp.'s CBS Records.@@@@1@41@@oe@2-2-2013
20408008@unknown@formal@none@1@S@For Warner, meanwhile, it gives the company a second young partner with a finger on the pulse of the hottest trends in the music business.@@@@1@25@@oe@2-2-2013
20408009@unknown@formal@none@1@S@The 41-year-old Mr. Azoff, a former rock 'n' roll manager, is credited with turning around MCA's once-moribund music division in his six years at the company.@@@@1@26@@oe@2-2-2013
20408010@unknown@formal@none@1@S@But Mr. Azoff had been negotiating for more than a year to get out of his MCA contract, which expired in 1991.@@@@1@22@@oe@2-2-2013
20408011@unknown@formal@none@1@S@Mr. Azoff reportedly was bored and frequently clashed with top MCA management over a number of issues such as compensation and business plans.@@@@1@23@@oe@2-2-2013
20408012@unknown@formal@none@1@S@Mr. Azoff also was eager to return to a more entrepreneurial role in which he had a big financial stake in his own efforts.@@@@1@24@@oe@2-2-2013
20408013@unknown@formal@none@1@S@In an interview at the time of his resignation from MCA, he said: "I'd rather build a company than run one.@@@@1@21@@oe@2-2-2013
20409001@unknown@formal@none@1@S@Part of a Series}@@@@1@4@@oe@2-2-2013
20409002@unknown@formal@none@1@S@Tom Panelli had a perfectly good reason for not using the $300 rowing machine he bought three years ago.@@@@1@19@@oe@2-2-2013
20409003@unknown@formal@none@1@S@"I ate a bad tuna sandwich, got food poisoning and had to have a shot in my shoulder," he says, making it too painful to row.@@@@1@26@@oe@2-2-2013
20409004@unknown@formal@none@1@S@The soreness, he admits, went away about a week after the shot.@@@@1@12@@oe@2-2-2013
20409005@unknown@formal@none@1@S@Yet the rowing machine hasn't been touched since, even though he has moved it across the country with him twice.@@@@1@20@@oe@2-2-2013
20409006@unknown@formal@none@1@S@A San Francisco lawyer, Mr. Panelli rowed religiously when he first got the machine, but, he complains, it left grease marks on his carpet, "and it was boring.@@@@1@28@@oe@2-2-2013
20409007@unknown@formal@none@1@S@It's a horrible machine, actually.@@@@1@5@@oe@2-2-2013
20409008@unknown@formal@none@1@S@I'm ashamed I own the stupid thing."@@@@1@7@@oe@2-2-2013
20409009@unknown@formal@none@1@S@Mr. Panelli has plenty of company.@@@@1@6@@oe@2-2-2013
20409010@unknown@formal@none@1@S@Nearly three-fourths of the people who own home exercise equipment don't use it as much as they planned, according to The Wall Street Journal's "American Way of Buying" survey.@@@@1@29@@oe@2-2-2013
20409011@unknown@formal@none@1@S@The Roper Organization, which conducted the survey, said almost half of the exercise equipment owners found it duller than they expected.@@@@1@21@@oe@2-2-2013
20409012@unknown@formal@none@1@S@It isn't just exercise gear that isn't getting a good workout.@@@@1@11@@oe@2-2-2013
20409013@unknown@formal@none@1@S@The fitness craze itself has gone soft, the survey found.@@@@1@10@@oe@2-2-2013
20409014@unknown@formal@none@1@S@Fewer people said they were working up a sweat with such activities as jogging, tennis, swimming and aerobics.@@@@1@18@@oe@2-2-2013
20409015@unknown@formal@none@1@S@Half of those surveyed said they simply walk these days for exercise.@@@@1@12@@oe@2-2-2013
20409016@unknown@formal@none@1@S@That's good news for marketers of walking shoes.@@@@1@8@@oe@2-2-2013
20409017@unknown@formal@none@1@S@The survey also detected a bit more interest in golf, a positive sign for country clubs and golf club makers.@@@@1@20@@oe@2-2-2013
20409018@unknown@formal@none@1@S@The survey's findings certainly aren't encouraging for marketers of health-club memberships, tennis rackets and home exercise equipment, but people's good intentions, if not their actions, are keeping sales of some fitness products healthy.@@@@1@33@@oe@2-2-2013
20409019@unknown@formal@none@1@S@For instance, sales of treadmills, exercise bikes, stair climbers and the like are expected to rise 8% to about $1.52 billion this year, according to the National Sporting Goods Association, which sees the home market as one of the hottest growth areas for the 1990s.@@@@1@45@@oe@2-2-2013
20409020@unknown@formal@none@1@S@But even that group knows some people don't use their machines as much as they should.@@@@1@16@@oe@2-2-2013
20409021@unknown@formal@none@1@S@"The first excuse is they don't have enough time," says research director Thomas Doyle.@@@@1@14@@oe@2-2-2013
20409022@unknown@formal@none@1@S@"The second is they don't have enough discipline."@@@@1@8@@oe@2-2-2013
20409023@unknown@formal@none@1@S@With more than 15 million exercise bikes sold in the past five years, he adds, "a lot of garages, basements and attics must be populated with them."@@@@1@27@@oe@2-2-2013
20409024@unknown@formal@none@1@S@Still, the average price of such bikes rose last year to $145.@@@@1@12@@oe@2-2-2013
20409025@unknown@formal@none@1@S@Mr. Doyle predicts a trend toward fewer pieces of home exercise equipment being sold at higher prices.@@@@1@17@@oe@2-2-2013
20409026@unknown@formal@none@1@S@Electronic gimmicks are key.@@@@1@4@@oe@2-2-2013
20409027@unknown@formal@none@1@S@Premark International Inc., for example, peddles the M8.7sp Electronic Cycling Simulator, a $2,000 stationary cycle.@@@@1@15@@oe@2-2-2013
20409028@unknown@formal@none@1@S@On a video screen, riders can see 30 different "rides," including urban, mountain and desert scenes, and check how many calories are burned a minute.@@@@1@25@@oe@2-2-2013
20409029@unknown@formal@none@1@S@Nancy Igdaloff, who works in corporate payments at Bank of America in San Francisco, may be a good prospect for such a gizmo.@@@@1@23@@oe@2-2-2013
20409030@unknown@formal@none@1@S@She's trying to sell a $150 exercise bike she bought about five years ago for her roommate.@@@@1@17@@oe@2-2-2013
20409031@unknown@formal@none@1@S@But rather than write off home fitness equipment, she traded up: Ms. Igdaloff just paid about $900 for a fancier stationary bike, with a timer, dials showing average and maximum speeds and a comfortable seat that feels almost like a chair.@@@@1@41@@oe@2-2-2013
20409032@unknown@formal@none@1@S@"I'm using it a lot," she says.@@@@1@7@@oe@2-2-2013
20409033@unknown@formal@none@1@S@"I spent so much money that if I look at it, and I'm not on it, I feel guilty."@@@@1@19@@oe@2-2-2013
20409034@unknown@formal@none@1@S@The poll points up some inconsistencies between what people say and what they do.@@@@1@14@@oe@2-2-2013
20409035@unknown@formal@none@1@S@A surprising 78% of people said they exercise regularly, up from 73% in 1981.@@@@1@14@@oe@2-2-2013
20409036@unknown@formal@none@1@S@This conjures up images of a nation full of trim, muscular folks, and suggests couch potatoes are out of season.@@@@1@20@@oe@2-2-2013
20409037@unknown@formal@none@1@S@Of course, that isn't really the case.@@@@1@7@@oe@2-2-2013
20409038@unknown@formal@none@1@S@The discrepancy may be because asking people about their fitness regime is a bit like inquiring about their love life.@@@@1@20@@oe@2-2-2013
20409039@unknown@formal@none@1@S@They're bound to exaggerate.@@@@1@4@@oe@2-2-2013
20409040@unknown@formal@none@1@S@"People say they swim, and that may mean they've been to the beach this year," says Krys Spain, research specialist for the President's Council on Physical Fitness and Sports.@@@@1@29@@oe@2-2-2013
20409041@unknown@formal@none@1@S@"It's hard to know if people are responding truthfully.@@@@1@9@@oe@2-2-2013
20409042@unknown@formal@none@1@S@People are too embarrassed to say they haven't done anything."@@@@1@10@@oe@2-2-2013
20409043@unknown@formal@none@1@S@While she applauds the fact that more Americans are getting up from the television to stroll or garden, she says the percentage of Americans who do "real exercise to build the heart" is only 10% to 20%.@@@@1@37@@oe@2-2-2013
20409044@unknown@formal@none@1@S@So many people fudge on answers about exercise, the president's council now uses specific criteria to determine what is considered vigorous: It must produce contractions of large muscle groups, must achieve 60% of maximum aerobic capacity and must be done three or more times a week for a minimum of 20 minutes.@@@@1@52@@oe@2-2-2013
20409045@unknown@formal@none@1@S@One of the council's goals, set in 1980, was to see more than 60% of adults under 65 years of age getting vigorous exercise by 1990.@@@@1@26@@oe@2-2-2013
20409046@unknown@formal@none@1@S@That target has been revised to 30% by the year 2000.@@@@1@11@@oe@2-2-2013
20409047@unknown@formal@none@1@S@But even that goal may prove optimistic.@@@@1@7@@oe@2-2-2013
20409048@unknown@formal@none@1@S@Of 14 activities, the Journal survey found that 12 -- including bicycling, skiing and swimming -- are being done by fewer Americans today than eight years ago.@@@@1@27@@oe@2-2-2013
20409049@unknown@formal@none@1@S@Time pressures and the ebb of the fitness fad are cited as reasons for the decline.@@@@1@16@@oe@2-2-2013
20409050@unknown@formal@none@1@S@Only walking and golf increased in popularity during the 1980s -- and only slightly.@@@@1@14@@oe@2-2-2013
20409051@unknown@formal@none@1@S@Jeanette Traverso, a California lawyer, gave up running three times a week to play a weekly round of golf, finding it more social and serene.@@@@1@25@@oe@2-2-2013
20409052@unknown@formal@none@1@S@It's an activity she feels she can do for life, and by pulling a golf cart, she still gets a good workout.@@@@1@22@@oe@2-2-2013
20409053@unknown@formal@none@1@S@"I'm really wiped out after walking five hours," she says.@@@@1@10@@oe@2-2-2013
20409054@unknown@formal@none@1@S@Most people said they exercise both for health and enjoyment.@@@@1@10@@oe@2-2-2013
20409055@unknown@formal@none@1@S@"If you sit down all the time, you'll go stiff," says Joyce Hagood, a Roxboro, N.C., homemaker who walks several miles a week.@@@@1@23@@oe@2-2-2013
20409056@unknown@formal@none@1@S@"And it's relaxing.@@@@1@3@@oe@2-2-2013
20409057@unknown@formal@none@1@S@Sometimes, if you have a headache, you can go out and walk it right off."@@@@1@15@@oe@2-2-2013
20409058@unknown@formal@none@1@S@Only about a quarter of the respondents said they exercise to lose weight.@@@@1@13@@oe@2-2-2013
20409059@unknown@formal@none@1@S@Slightly more, like Leslie Sherren, a law librarian in San Francisco who attends dance aerobics five times a week, exercise to relieve stress.@@@@1@23@@oe@2-2-2013
20409060@unknown@formal@none@1@S@"Working with lawyers," she says, "I need it."@@@@1@8@@oe@2-2-2013
20409061@unknown@formal@none@1@S@But fully 90% of those polled felt they didn't need to belong to a health club.@@@@1@16@@oe@2-2-2013
20409062@unknown@formal@none@1@S@"They're too crowded, and everybody's showing off," says Joel Bryant, a 22-year-old student from Pasadena, Calif.@@@@1@16@@oe@2-2-2013
20409063@unknown@formal@none@1@S@"The guys are being macho, and the girls are walking around in little things.@@@@1@14@@oe@2-2-2013
20409064@unknown@formal@none@1@S@They're not there to work out."@@@@1@6@@oe@2-2-2013
20409065@unknown@formal@none@1@S@But at least they show up.@@@@1@6@@oe@2-2-2013
20409066@unknown@formal@none@1@S@Nearly half of those who joined health clubs said they didn't use their membership as often as they planned.@@@@1@19@@oe@2-2-2013
20409067@unknown@formal@none@1@S@Feeling they should devote more time to their families or their jobs, many yuppies are skipping their once-sacred workout.@@@@1@19@@oe@2-2-2013
20409068@unknown@formal@none@1@S@Even so, the Association of Quality Clubs, a health-club trade group in Boston, says membership revenues will rise about 5% this year from last year's $5 billion.@@@@1@27@@oe@2-2-2013
20409069@unknown@formal@none@1@S@A spokeswoman adds, however, that the group is considering offering "a behavior-modification course, similar to a smoking-cessation program, to teach people ways to stay with it."@@@@1@26@@oe@2-2-2013
20409070@unknown@formal@none@1@S@There are die-hard bodies, of course.@@@@1@6@@oe@2-2-2013
20409071@unknown@formal@none@1@S@The proprietor of Sante West, an aerobics studio in San Francisco's Marina district, which was hit hard by the earthquake, says, "People were going nuts the minute we opened," three days after the quake.@@@@1@34@@oe@2-2-2013
20409072@unknown@formal@none@1@S@"The emotional aspect is so draining, they needed a good workout."@@@@1@11@@oe@2-2-2013
20409073@unknown@formal@none@1@S@Perhaps the most disturbing finding is that the bowling alley may be an endangered American institution.@@@@1@16@@oe@2-2-2013
20409074@unknown@formal@none@1@S@The survey reported the number of people who said they bowl regularly has fallen to just 8% from 17% in 1981.@@@@1@21@@oe@2-2-2013
20409075@unknown@formal@none@1@S@The American Bowling Congress claims a higher percentage of the public bowls regularly, but concedes its membership has declined this decade.@@@@1@21@@oe@2-2-2013
20409076@unknown@formal@none@1@S@To find out why, the group recently commissioned a study of the past 20 years of bowling-related research.@@@@1@18@@oe@2-2-2013
20409077@unknown@formal@none@1@S@Three reasons were pinpointed: a preference for watching bowling and other sports on television rather than actually bowling, dowdy bowling centers, and dissatisfaction with bowling itself.@@@@1@26@@oe@2-2-2013
20409078@unknown@formal@none@1@S@People who start bowling expecting it to be a pleasurable exercise "have been generally disappointed," the report said.@@@@1@18@@oe@2-2-2013
20409079@unknown@formal@none@1@S@But not Richard Cottrell, a San Francisco cab driver who bowls in two weekly leagues.@@@@1@15@@oe@2-2-2013
20409080@unknown@formal@none@1@S@He hit the lanes three years ago on the advice of his doctor.@@@@1@13@@oe@2-2-2013
20409081@unknown@formal@none@1@S@"It's good exercise," he says.@@@@1@5@@oe@2-2-2013
20409082@unknown@formal@none@1@S@"I can't do anything score-wise, but I like meeting the girls."@@@@1@11@@oe@2-2-2013
20409083@unknown@formal@none@1@S@He says bowling helps him shed pounds, though that effort is sometimes thwarted by the fact that "when I'm drinking, I bowl better."@@@@1@23@@oe@2-2-2013
20409084@unknown@formal@none@1@S@His Tuesday night team, the Leftovers, is in first place.@@@@1@10@@oe@2-2-2013
20410001@unknown@formal@none@1@S@WPP GROUP'S Ogilvy & Mather expects profit margins to improve to 11.5% in 1990 in the U.S.@@@@1@17@@oe@2-2-2013
20410002@unknown@formal@none@1@S@Yesterday's edition didn't specify where the improvement would take place.@@@@1@10@@oe@2-2-2013
20411001@unknown@formal@none@1@S@Concerning your Sept. 29 article "Retailers Face Cutbacks, Uncertain Future": The outcome of our leveraged buyout is looking very positive.@@@@1@20@@oe@2-2-2013
20411002@unknown@formal@none@1@S@Unlike most of the other retailers mentioned in the story, Jos. A. Bank Clothiers Inc. is not in serious financial problems.@@@@1@21@@oe@2-2-2013
20411003@unknown@formal@none@1@S@We did experience some difficulties with the initial LBO terms and, as your article made clear, successfully restructured our debt earlier this year, something those other retailers have yet to accomplish.@@@@1@31@@oe@2-2-2013
20411004@unknown@formal@none@1@S@Your were on target regarding industry problems, but wide of the mark in portraying the financial health of this company.@@@@1@20@@oe@2-2-2013
20411005@unknown@formal@none@1@S@Chairman and CEO Jos. A. Bank Clothiers Inc. Owings Mills, Md.@@@@1@11@@oe@2-2-2013
20412001@unknown@formal@none@1@S@Private housing starts in Japan were unchanged in September from a year earlier at 144,610 units, the Construction Ministry said.@@@@1@20@@oe@2-2-2013
20412002@unknown@formal@none@1@S@The flat report followed a four-month string of declines.@@@@1@9@@oe@2-2-2013
20412003@unknown@formal@none@1@S@The down trend was partly the result of tighter credit sparked by a discount rate increase by the Bank of Japan in May.@@@@1@23@@oe@2-2-2013
20412004@unknown@formal@none@1@S@The central bank also unexpectedly raised the base rate by half a percentage point to 3.75% Oct. 11 as part of an inflation-fighting move that indirectly increases interest rates charged on new home construction loans.@@@@1@35@@oe@2-2-2013
20413001@unknown@formal@none@1@S@If there's somethin' strange in your neighborhood . . .@@@@1@10@@oe@2-2-2013
20413002@unknown@formal@none@1@S@If there's something' weird and it don't look good.@@@@1@9@@oe@2-2-2013
20413003@unknown@formal@none@1@S@Who ya gonna call?@@@@1@4@@oe@2-2-2013
20413004@unknown@formal@none@1@S@For starters, some people call Ed and Lorraine Warren.@@@@1@9@@oe@2-2-2013
20413005@unknown@formal@none@1@S@When it comes to busting ghosts, the Monroe, Conn., couple are perfect demons.@@@@1@13@@oe@2-2-2013
20413006@unknown@formal@none@1@S@They claim to have busted spirits, poltergeists and other spooks in hundreds of houses around the country.@@@@1@17@@oe@2-2-2013
20413007@unknown@formal@none@1@S@They say they now get three or four "legitimate" calls a week from people harried by haunts.@@@@1@17@@oe@2-2-2013
20413008@unknown@formal@none@1@S@"I firmly believe in angels, devils and ghosts," says Mr. Warren, whose business card identifies him as a "demonologist."@@@@1@19@@oe@2-2-2013
20413009@unknown@formal@none@1@S@If psychics don't work, but your house still seems haunted, you can call any one of a swelling band of skeptics such as Richard Busch.@@@@1@25@@oe@2-2-2013
20413010@unknown@formal@none@1@S@A professional magician and musician, he heads the Pittsburgh branch of the Committee for the Scientific Investigation of the Paranormal.@@@@1@20@@oe@2-2-2013
20413011@unknown@formal@none@1@S@Mr. Busch says there is a scientific explanation for all haunts, and he can even tell you how to encourage the spirits.@@@@1@22@@oe@2-2-2013
20413012@unknown@formal@none@1@S@"All you have to do is eat a big pizza, and then go to bed," he says.@@@@1@17@@oe@2-2-2013
20413013@unknown@formal@none@1@S@"You'll have weird dreams, too."@@@@1@5@@oe@2-2-2013
20413014@unknown@formal@none@1@S@Either way, the ghostbusting business is going like gangbusters.@@@@1@9@@oe@2-2-2013
20413015@unknown@formal@none@1@S@Tales of haunts and horrors are proliferating beyond the nation's Elm Streets and Amityvilles.@@@@1@14@@oe@2-2-2013
20413016@unknown@formal@none@1@S@"I get calls nearly every day from people who have ghosts in their house," says Raymond Hyman, a skeptical psychology professor at the University of Oregon.@@@@1@26@@oe@2-2-2013
20413017@unknown@formal@none@1@S@In a public opinion poll published in the October issue of Parents Magazine, a third of those queried said they believe that ghosts or spirits make themselves known to people.@@@@1@30@@oe@2-2-2013
20413018@unknown@formal@none@1@S@"The movies, the books, the tabloids -- even Nancy Reagan is boosting this stuff," says Paul Kurtz, a philosophy professor at the State University of New York at Buffalo, who heads the Committee for the Scientific Investigation of the Paranormal.@@@@1@40@@oe@2-2-2013
20413019@unknown@formal@none@1@S@The committee, formed in 1967, now has 60 chapters around the world.@@@@1@12@@oe@2-2-2013
20413020@unknown@formal@none@1@S@The spirits, of course, could hardly care less whether people do or don't believe in them.@@@@1@16@@oe@2-2-2013
20413021@unknown@formal@none@1@S@They don't even give a nod to human sensibilities by celebrating Halloween.@@@@1@12@@oe@2-2-2013
20413022@unknown@formal@none@1@S@For the spooks it's just another day of ectoplasmic business as usual, ghostbusters say; the holiday seems to occasion no unusual number of ghost reports.@@@@1@25@@oe@2-2-2013
20413023@unknown@formal@none@1@S@One of the busiest ghostbusters is Robert Baker, a 68-year-old semi-retired University of Kentucky psychology professor whose bushy gray eyebrows arch at the mere mention of a ghost.@@@@1@28@@oe@2-2-2013
20413024@unknown@formal@none@1@S@Mr. Baker says he has personally bested more than 50 haunts, from aliens to poltergeists.@@@@1@15@@oe@2-2-2013
20413025@unknown@formal@none@1@S@Mr. Baker heads the Kentucky Association of Science Educators and Skeptics.@@@@1@11@@oe@2-2-2013
20413026@unknown@formal@none@1@S@Like Hollywood's Ghostbusters, Kentucky's stand ready to roll when haunts get out of hand.@@@@1@14@@oe@2-2-2013
20413027@unknown@formal@none@1@S@But they don't careen around in an old Cadillac, wear funny suits or blast away at slimy spirits.@@@@1@18@@oe@2-2-2013
20413028@unknown@formal@none@1@S@Mr. Baker drives a 1987 Chevy and usually wears a tweed jacket on his ghostbusting forays.@@@@1@16@@oe@2-2-2013
20413029@unknown@formal@none@1@S@"I've never met a ghost that couldn't be explained away by perfectly natural means," he says.@@@@1@16@@oe@2-2-2013
20413030@unknown@formal@none@1@S@When a Louisville woman complained that a ghost was haunting her attic, Mr. Baker discovered a rat dragging a trap across the rafters.@@@@1@23@@oe@2-2-2013
20413031@unknown@formal@none@1@S@A foul-smelling demon supposedly plagued a house in Mannington, Ky.@@@@1@10@@oe@2-2-2013
20413032@unknown@formal@none@1@S@Mr. Baker found an opening under the house that led to a fume-filled coal mine.@@@@1@15@@oe@2-2-2013
20413033@unknown@formal@none@1@S@When the weather cools, Mr. Baker says, hobos often hole up in abandoned houses.@@@@1@14@@oe@2-2-2013
20413034@unknown@formal@none@1@S@"People see activity in there, and the next thing you know, you've got a haunting," he says.@@@@1@17@@oe@2-2-2013
20413035@unknown@formal@none@1@S@On a recent afternoon, Mr. Baker and a reporter go ghost-busting, visiting Kathleen Stinnett, a Lexington woman who has phoned the University of Kentucky to report mysterious happenings in her house.@@@@1@31@@oe@2-2-2013
20413036@unknown@formal@none@1@S@Mrs. Stinnett says she never believed in ghosts before, but lately her vacuum cleaner turned itself on, a telephone flew off its stand, doors slammed inexplicably, and she heard footsteps in her empty kitchen.@@@@1@34@@oe@2-2-2013
20413037@unknown@formal@none@1@S@"I was doing the laundry and nearly broke my neck running upstairs to see who was there, and it was nobody," she says, eyes wide at the recollection.@@@@1@28@@oe@2-2-2013
20413038@unknown@formal@none@1@S@Mr. Baker hears her out, pokes around a bit, asks a few questions and proposes some explanations.@@@@1@17@@oe@2-2-2013
20413039@unknown@formal@none@1@S@Of the self-starting vacuum cleaner, he says: "Could be Cuddles, {Mrs. Stinnett's dog}."@@@@1@13@@oe@2-2-2013
20413040@unknown@formal@none@1@S@The flying telephone: "You tangle the base cord around a chair leg, and the receiver does seem to fly off."@@@@1@20@@oe@2-2-2013
20413041@unknown@formal@none@1@S@The ghostly footsteps: "Interstate 64 is a block away, and heavy traffic can sure set a house to vibrating."@@@@1@19@@oe@2-2-2013
20413042@unknown@formal@none@1@S@"I'm not sure he's explained everything," Mrs. Stinnett says grudgingly.@@@@1@10@@oe@2-2-2013
20413043@unknown@formal@none@1@S@"There are some things that have gone on here that nobody can explain," she says.@@@@1@15@@oe@2-2-2013
20413044@unknown@formal@none@1@S@Mr. Baker promises to return if the haunting continues.@@@@1@9@@oe@2-2-2013
20413045@unknown@formal@none@1@S@For especially stubborn haunts, Mr. Baker carries a secret weapon, a vial of cornstarch.@@@@1@14@@oe@2-2-2013
20413046@unknown@formal@none@1@S@"I tell people it's the groundup bones of saints," he says.@@@@1@11@@oe@2-2-2013
20413047@unknown@formal@none@1@S@"I sprinkle a little around and tell the demons to leave.@@@@1@11@@oe@2-2-2013
20413048@unknown@formal@none@1@S@It's reassuring, and it usually works."@@@@1@6@@oe@2-2-2013
20413049@unknown@formal@none@1@S@Oregon's Mr. Hyman has investigated claims of flying cats, apparitions and bouncing chandeliers and has come up with a plausible explanation, he says, for every one.@@@@1@26@@oe@2-2-2013
20413050@unknown@formal@none@1@S@"Invariably," he says, "eyewitnesses are untrustworthy."@@@@1@6@@oe@2-2-2013
20413051@unknown@formal@none@1@S@Two years ago, a Canadian reader bet Omni Magazine $1,000 that it couldn't debunk the uncanny goings-on in "the Oregon Vortex," a former Indian burial ground in southern Oregon.@@@@1@29@@oe@2-2-2013
20413052@unknown@formal@none@1@S@To viewers from a distance, visitors to the spot seemed to shrink disproportionately, relative to the background.@@@@1@17@@oe@2-2-2013
20413053@unknown@formal@none@1@S@The magazine called in Mr. Hyman as a consultant.@@@@1@9@@oe@2-2-2013
20413054@unknown@formal@none@1@S@He showed up with a carpenter's level, carefully measured every surface and showed how the apparent shrinkage was caused by the perspective.@@@@1@22@@oe@2-2-2013
20413055@unknown@formal@none@1@S@"A very striking illusion," Mr. Hyman says now, his voice dripping with skepticism, "but an illusion nevertheless."@@@@1@17@@oe@2-2-2013
20413056@unknown@formal@none@1@S@The Canadian wound up writing a check.@@@@1@7@@oe@2-2-2013
20413057@unknown@formal@none@1@S@The Rev. Alphonsus Trabold, a theology professor and exorcism expert at St. Bonaventure University in Olean, N.Y., frequently is asked to exorcise unruly spirits, and he often obliges.@@@@1@28@@oe@2-2-2013
20413058@unknown@formal@none@1@S@"On certain occasions a spirit could be earthbound and make itself known," he says.@@@@1@14@@oe@2-2-2013
20413059@unknown@formal@none@1@S@"It happens."@@@@1@2@@oe@2-2-2013
20413060@unknown@formal@none@1@S@Father Trabold often uses what he calls "a therapeutic exorcism": a few prayers and an admonition to the spirit to leave.@@@@1@21@@oe@2-2-2013
20413061@unknown@formal@none@1@S@"If the person believes there's an evil spirit, you ask it to be gone," he says.@@@@1@16@@oe@2-2-2013
20413062@unknown@formal@none@1@S@"The suggestion itself may do the healing."@@@@1@7@@oe@2-2-2013
20413063@unknown@formal@none@1@S@But sometimes more energetic attacks are required.@@@@1@7@@oe@2-2-2013
20413064@unknown@formal@none@1@S@To wrestle with a demon in a house owned by a Litchfield, Conn., woman, the Warrens recently called in an exorcist, the Rev. Robert McKenna, a dissident clergyman who hews to the Catholic Church's old Latin liturgy.@@@@1@37@@oe@2-2-2013
20413065@unknown@formal@none@1@S@I attend, and so does a television crew from New York City.@@@@1@12@@oe@2-2-2013
20413066@unknown@formal@none@1@S@Mr. Warren pronounces the Litchfield case "your typical demonic infestation."@@@@1@10@@oe@2-2-2013
20413067@unknown@formal@none@1@S@A Scottish dwarf built the small red house 110 years ago and now his demonic ghost haunts it, Mr. Warren says.@@@@1@21@@oe@2-2-2013
20413068@unknown@formal@none@1@S@The owner, who begs anonymity, asserts that the dwarf, appearing as a dark shadow, has manhandled her, tossing her around the living room and yanking out a hank of hair.@@@@1@30@@oe@2-2-2013
20413069@unknown@formal@none@1@S@Two previous exorcisms have failed.@@@@1@5@@oe@2-2-2013
20413070@unknown@formal@none@1@S@"This is a very tenacious ghost," Mr. Warren says darkly.@@@@1@10@@oe@2-2-2013
20413071@unknown@formal@none@1@S@Father McKenna moves through the house praying in Latin, urging the demon to split.@@@@1@14@@oe@2-2-2013
20413072@unknown@formal@none@1@S@Suddenly the woman begins swaying and then writhing.@@@@1@8@@oe@2-2-2013
20413073@unknown@formal@none@1@S@"She's being attacked by the demon," Mrs. Warren stagewhispers as the priest sprinkles holy water over the squirming woman, and the television camera grinds.@@@@1@24@@oe@2-2-2013
20413074@unknown@formal@none@1@S@A half-hour later, the woman is smiling and chatting; the demon seems to have gone.@@@@1@15@@oe@2-2-2013
20413075@unknown@formal@none@1@S@But Mr. Warren says the woman has "psychic burns" on her back from the confrontation.@@@@1@15@@oe@2-2-2013
20413076@unknown@formal@none@1@S@She declines to show them.@@@@1@5@@oe@2-2-2013
20413077@unknown@formal@none@1@S@"This was an invisible, powerful force that's almost impossible for a layman to contemplate," Mr. Warren says solemnly as the ghostbusting entourage packs up to leave.@@@@1@26@@oe@2-2-2013
20413078@unknown@formal@none@1@S@"This time though," he says, "I think we got it."@@@@1@10@@oe@2-2-2013
20413079@unknown@formal@none@1@S@Lyrics from "Ghostbusters" by Ray S. Parker Jr. 1984 by Golden Torch Music Corp. (ASCAP) and Raydiola Music (ASCAP).@@@@1@19@@oe@2-2-2013
20413080@unknown@formal@none@1@S@All administrative rights for the U.S. jointly controlled by both companies.@@@@1@11@@oe@2-2-2013
20413081@unknown@formal@none@1@S@International copyright secured.@@@@1@3@@oe@2-2-2013
20413082@unknown@formal@none@1@S@Made in USA.@@@@1@3@@oe@2-2-2013
20413083@unknown@formal@none@1@S@All rights Reserved.@@@@1@3@@oe@2-2-2013
20413084@unknown@formal@none@1@S@Reprinted by permission.@@@@1@3@@oe@2-2-2013
20414001@unknown@formal@none@1@S@BROKERAGE HIRING languishes amid market turmoil.@@@@1@6@@oe@2-2-2013
20414002@unknown@formal@none@1@S@But survivors earn more.@@@@1@4@@oe@2-2-2013
20414003@unknown@formal@none@1@S@Shearson Lehman Hutton Inc. counts under 39,000 workers, down 100 from the start of the year and off 8,500 from after its merger and the market collapse two years ago.@@@@1@30@@oe@2-2-2013
20414004@unknown@formal@none@1@S@Another major firm has cut 6,000 workers, 13% of its staff, since Black Monday.@@@@1@14@@oe@2-2-2013
20414005@unknown@formal@none@1@S@The Bureau of Labor Statistics says securities firms in New York City alone have slashed 17,000 jobs from the December 1987 peak of 163,000.@@@@1@24@@oe@2-2-2013
20414006@unknown@formal@none@1@S@Average annual earnings of those who have hung on, though, surged to $78,625 last year from $69,553 in 1987.@@@@1@19@@oe@2-2-2013
20414007@unknown@formal@none@1@S@Any hiring is confined to retail sales.@@@@1@7@@oe@2-2-2013
20414008@unknown@formal@none@1@S@Illinois Company Investments had been trimming its ranks until last summer.@@@@1@11@@oe@2-2-2013
20414009@unknown@formal@none@1@S@But then it was acquired by Household International Inc.@@@@1@9@@oe@2-2-2013
20414010@unknown@formal@none@1@S@Now it offers richer commissions to lure a broker a week.@@@@1@11@@oe@2-2-2013
20414011@unknown@formal@none@1@S@Interstate/Johnson Lane Inc. this year adds 70 people -- 60 of them in retail -- to its 1,300-member staff.@@@@1@19@@oe@2-2-2013
20414012@unknown@formal@none@1@S@A.G. Edwards & Sons runs training classes and looks for experienced brokers.@@@@1@12@@oe@2-2-2013
20414013@unknown@formal@none@1@S@"We're always going to hire someone we consider to be a winner," an Edwards official says.@@@@1@16@@oe@2-2-2013
20414014@unknown@formal@none@1@S@SKILLED WORKERS aplenty are available to cope with earthquake damage.@@@@1@10@@oe@2-2-2013
20414015@unknown@formal@none@1@S@"I don't foresee any shortages over the next few months," says Ken Allen, an official of Operating Engineers Local 3 in San Francisco.@@@@1@23@@oe@2-2-2013
20414016@unknown@formal@none@1@S@Ironically, "up until the quake, we desperately tried to fill jobs," especially for crane and bulldozer operators.@@@@1@17@@oe@2-2-2013
20414017@unknown@formal@none@1@S@But the Oct. 17 temblor put a halt to much nonessential building, and heavy rains last week slowed the rest, freeing construction workers for earthquake repairs.@@@@1@26@@oe@2-2-2013
20414018@unknown@formal@none@1@S@The supply of experienced civil engineers, though, is tighter.@@@@1@9@@oe@2-2-2013
20414019@unknown@formal@none@1@S@In recent months, California's Transportation Department has been recruiting in Pennsylvania, Arizona and Texas for engineers experienced in road and bridge design.@@@@1@22@@oe@2-2-2013
20414020@unknown@formal@none@1@S@But, with the state offering only $39,000 a year and California's high standard of living, "there aren't too many to choose from," says Brent Scott, a recruiting officer.@@@@1@28@@oe@2-2-2013
20414021@unknown@formal@none@1@S@He says the department now has 75 openings and wants to hire 625 civil engineers over the next 15 months.@@@@1@20@@oe@2-2-2013
20414022@unknown@formal@none@1@S@THE IRS may taketh what the Labor Department giveth.@@@@1@9@@oe@2-2-2013
20414023@unknown@formal@none@1@S@But stay tuned.@@@@1@3@@oe@2-2-2013
20414024@unknown@formal@none@1@S@Employee-benefit specialists drew a collective sigh of relief in early October when the Labor Department backed away from a proposal that companies let former employees and beneficiaries -- along with active workers -- borrow against balances in 401(k) and similar savings plans.@@@@1@42@@oe@2-2-2013
20414025@unknown@formal@none@1@S@In an advisory letter, the department said that, starting Oct. 18, loans could be limited to "parties in interest," which generally means active workers but also includes retirees who continue as directors and 10% shareholders.@@@@1@35@@oe@2-2-2013
20414026@unknown@formal@none@1@S@Now comes word that IRS regulations being drafted could put companies in violation of the tax code if they make loans to retiree shareholders and directors but don't make them available to other former workers who usually earned less.@@@@1@39@@oe@2-2-2013
20414027@unknown@formal@none@1@S@The IRS says the question won't be settled until the regulations are issued "shortly."@@@@1@14@@oe@2-2-2013
20414028@unknown@formal@none@1@S@But violation could bring substantial tax penalties to both employer and employees.@@@@1@12@@oe@2-2-2013
20414029@unknown@formal@none@1@S@"It's a severe case of regulatory whiplash," complains Henry Saveth of consultant A. Foster Higgins & Co.@@@@1@17@@oe@2-2-2013
20414030@unknown@formal@none@1@S@Frederick Rumack of Buck Consultants has asked Labor to recraft its rule to remove the IRS threat.@@@@1@17@@oe@2-2-2013
20414031@unknown@formal@none@1@S@CORPORATE DOWNSIZING digs deeper.@@@@1@4@@oe@2-2-2013
20414032@unknown@formal@none@1@S@Outplacement consultant Right Associates says the average pay of its clients fell to $66,743 last year from $70,765 in 1987; severance pay dropped to 25 weeks from 29.@@@@1@28@@oe@2-2-2013
20414033@unknown@formal@none@1@S@Both reflect the dismissal of lower-level and shorter-tenure executives.@@@@1@9@@oe@2-2-2013
20414034@unknown@formal@none@1@S@FIRST TEACH THYSELF.@@@@1@3@@oe@2-2-2013
20414035@unknown@formal@none@1@S@Executives universally believe workers should know their employer-sponsored benefits.@@@@1@9@@oe@2-2-2013
20414036@unknown@formal@none@1@S@But three out of four managers can't accurately state the value of their own packages, consultant Noble Lowndes says.@@@@1@19@@oe@2-2-2013
20414037@unknown@formal@none@1@S@MEA CULPA.@@@@1@2@@oe@2-2-2013
20414038@unknown@formal@none@1@S@Fully 62% of the doctors surveyed for Metropolitan Life Insurance Co. think their fellow physicians are responsible for rising health-care costs, ahead of hospitals (55%) and patients (48%).@@@@1@28@@oe@2-2-2013
20414039@unknown@formal@none@1@S@NO, YOU WORK!@@@@1@3@@oe@2-2-2013
20414040@unknown@formal@none@1@S@Only one in four companies with flexible benefit plans lets workers buy or sell vacation days, consultant Towers Perrin says.@@@@1@20@@oe@2-2-2013
20414041@unknown@formal@none@1@S@Employees like the option but firms say it's too tough to run.@@@@1@12@@oe@2-2-2013
20414042@unknown@formal@none@1@S@STUDENTS SHUN burger flipping for jobs tied to careers.@@@@1@9@@oe@2-2-2013
20414043@unknown@formal@none@1@S@Some even study.@@@@1@3@@oe@2-2-2013
20414044@unknown@formal@none@1@S@"Fast-food jobs aren't popular no matter what they pay," says a Tufts official.@@@@1@13@@oe@2-2-2013
20414045@unknown@formal@none@1@S@Working students, she explains, want "some satisfaction."@@@@1@7@@oe@2-2-2013
20414046@unknown@formal@none@1@S@University of Michigan students look for jobs related to planned careers.@@@@1@11@@oe@2-2-2013
20414047@unknown@formal@none@1@S@Carnegie Mellon, though, says some students conclude they can help their careers most by hitting the books: "They're opting to build their resumes through good grades and leadership roles in fraternities."@@@@1@31@@oe@2-2-2013
20414048@unknown@formal@none@1@S@Slowing economies in some areas limit student choice.@@@@1@8@@oe@2-2-2013
20414049@unknown@formal@none@1@S@Student job postings at Boston University slip 10% this year following a 10% drop in 1988.@@@@1@16@@oe@2-2-2013
20414050@unknown@formal@none@1@S@Still, the school says there are an ample number and pay is up to $7.20 an hour from $6.90 last year.@@@@1@21@@oe@2-2-2013
20414051@unknown@formal@none@1@S@M.B.A. candidates at the University of Pittsburgh earn up to $15 an hour on marketing or computer projects.@@@@1@18@@oe@2-2-2013
20414052@unknown@formal@none@1@S@THE CHECKOFF: Fiery ambition:@@@@1@4@@oe@2-2-2013
20414053@unknown@formal@none@1@S@Hyatt Corp. hires a University of Wyoming graduate with degrees in geology and petroleum engineering for $7.50 an hour to tend wood fires at a Colorado ski resort. . . .@@@@1@31@@oe@2-2-2013
20414054@unknown@formal@none@1@S@Is somebody telling us something?@@@@1@5@@oe@2-2-2013
20414055@unknown@formal@none@1@S@Our copy of Racine (Wis.) Labor comes through the mail wrapped around two sections of Baseball Card News.@@@@1@18@@oe@2-2-2013
20415001@unknown@formal@none@1@S@Democracy is making a return with a vengeance to Latin America's most populous and deeply indebted country.@@@@1@17@@oe@2-2-2013
20415002@unknown@formal@none@1@S@On Nov. 15, when Brazilians elect a president for the first time in 29 years, the country's 82 million voters will have 22 candidates to choose from.@@@@1@27@@oe@2-2-2013
20415003@unknown@formal@none@1@S@The candidates have been crisscrossing this huge country of 145 million people, holding rallies and televised debates in hope of being elected to what must be one of the world's most thankless political jobs: trying to drag Brazil out of its economic and social mess.@@@@1@45@@oe@2-2-2013
20415004@unknown@formal@none@1@S@"I feel sorry for whoever wins," says a Brazilian diplomat.@@@@1@10@@oe@2-2-2013
20415005@unknown@formal@none@1@S@Who that winner will be is highly uncertain.@@@@1@8@@oe@2-2-2013
20415006@unknown@formal@none@1@S@A half-dozen candidates, backing policies ranging from Thatcherism to watered-down Marxism, are given a chance of winning.@@@@1@17@@oe@2-2-2013
20415007@unknown@formal@none@1@S@"Whoever says he knows which of the six will win is out of his mind," says Antonio Britto, a centrist member of Parliament.@@@@1@23@@oe@2-2-2013
20415008@unknown@formal@none@1@S@The favorite remains Fernando Collor de Mello, a 40-year-old former governor of the state of Alagoas.@@@@1@16@@oe@2-2-2013
20415009@unknown@formal@none@1@S@He came out of nowhere to grab the lead in opinion polls, probably less because of his vague program to "build a new Brazil" than because of his good looks, the open backing of the powerful Rede Globo television network and his reputation as a hunter of "maharajahs," or overpaid and underworked civil servants.@@@@1@54@@oe@2-2-2013
20415010@unknown@formal@none@1@S@But after building up a commanding lead, the moderate to conservative Mr. Collor has slipped to about 30% in the polls from a high of about 43% only a few weeks ago.@@@@1@32@@oe@2-2-2013
20415011@unknown@formal@none@1@S@To avoid a runoff, one candidate would have to win 50% of the vote -- a feat that most analysts consider impossible with so many candidates running.@@@@1@27@@oe@2-2-2013
20415012@unknown@formal@none@1@S@Two left-wing politicians, Socialist Leonel Brizola, a former governor of Rio de Janeiro state, and Marxist-leaning Luis Inacio da Silva, currently are running neck and neck at about 15%, and three other candidates are given a chance of reaching the Dec. 17 runoff election between the two biggest vote-getters: Social Democrat Mario Covas and two conservatives, Paulo Salim Maluf, a former governor of the state of Sao Paulo, and Guilherme Afif Domingos.@@@@1@72@@oe@2-2-2013
20415013@unknown@formal@none@1@S@The uncertainty is sending shivers through Brazilian financial markets.@@@@1@9@@oe@2-2-2013
20415014@unknown@formal@none@1@S@The dollar, the best indicator of the country's mood, has skyrocketed on the parallel market, as has gold.@@@@1@18@@oe@2-2-2013
20415015@unknown@formal@none@1@S@Capital flight is reported to be strong.@@@@1@7@@oe@2-2-2013
20415016@unknown@formal@none@1@S@The big question is whether the new president will have the strength and the political support in Congress to take steps to cure Brazil's economic ills.@@@@1@26@@oe@2-2-2013
20415017@unknown@formal@none@1@S@President Jose Sarney, who took office in 1985 when the man picked by an electoral college became critically ill, appears to be simply trying to avoid hyperinflation.@@@@1@27@@oe@2-2-2013
20415018@unknown@formal@none@1@S@The unpopular Mr. Sarney, whose task was to bring about a smooth transition to democracy after 21 years of military rule, isn't seeking re-election.@@@@1@24@@oe@2-2-2013
20415019@unknown@formal@none@1@S@What comes out of the ballot box could be crucial in determining whether Brazil finally lives up to the potential of the world's eighth largest economy or keeps living up to its other, less enviable title: that of the developing world's largest debtor, teetering on the brink of hyperinflation, mired in deficits and stagnation, with huge economic inequalities and social discontent boiling under the surface.@@@@1@65@@oe@2-2-2013
20415020@unknown@formal@none@1@S@If Brazil devises an economic strategy allowing it to resume growth and service debt, this could lead it to open up and deregulate its sheltered economy, analysts say, just as Argentinian President Carlos Saul Menem has been doing even though he was elected on a populist platform.@@@@1@47@@oe@2-2-2013
20415021@unknown@formal@none@1@S@"Depending on the president, we could either be a trillion-dollar economy by the end of the century or stay where we are," says political scientist Amaury de Souza.@@@@1@28@@oe@2-2-2013
20415022@unknown@formal@none@1@S@"And where we are is bad."@@@@1@6@@oe@2-2-2013
20415023@unknown@formal@none@1@S@Despite valiant efforts by Finance Minister Mailson Ferreira da Nobrega, inflation came to 36% in September alone and is expected to top 1,000% for the year.@@@@1@26@@oe@2-2-2013
20415024@unknown@formal@none@1@S@That might have been considered hyperinflation not long ago, but Argentina endured price increases of almost 200% in July before bringing the rate down sharply in August and September.@@@@1@29@@oe@2-2-2013
20415025@unknown@formal@none@1@S@Still, massive internal debt has forced the government to borrow massively on the domestic market and to offer inflation-adjusted returns of 2% to 3% a month just to get investors to hold on to its paper.@@@@1@36@@oe@2-2-2013
20415026@unknown@formal@none@1@S@About $70 billion is estimated to be tied up in the short-term money market, which acts both as a hedge against inflation for consumers and an accelerator of inflation and deficits for the government.@@@@1@34@@oe@2-2-2013
20415027@unknown@formal@none@1@S@By some estimates, Brazil's internal debt, or combined public deficit, could reach 6.5% of its $351 billion gross domestic product.@@@@1@20@@oe@2-2-2013
20415028@unknown@formal@none@1@S@Much of the money goes into subsidies or keeping inefficient state-controlled companies operating.@@@@1@13@@oe@2-2-2013
20415029@unknown@formal@none@1@S@Among the results is a frequent breakdown of public services.@@@@1@10@@oe@2-2-2013
20415030@unknown@formal@none@1@S@It's not uncommon to wait three minutes for a dial tone after picking up the telephone, and then to be interrupted by a busy signal before finishing dialing the number.@@@@1@30@@oe@2-2-2013
20415031@unknown@formal@none@1@S@Officials also say a national electricity shortage might not be far off.@@@@1@12@@oe@2-2-2013
20415032@unknown@formal@none@1@S@Economists, businessmen and some politicians agree that the answer is an orthodox economic austerity program including reduced state spending; focusing spending on vital areas such as education, health and welfare; turning state companies private; reforming the tax system, raising public service rates to match costs; and possibly a temporary wage and price freeze and a devaluation of the cruzado.@@@@1@59@@oe@2-2-2013
20415033@unknown@formal@none@1@S@Analysts also say it's inevitable that Brazil will seek to renegotiate its $115 billion foreign debt, on which it suspended interest payments last month.@@@@1@24@@oe@2-2-2013
20415034@unknown@formal@none@1@S@Analysts say, however, that a tough economic program would have to be accompanied by measures to shield the poor from its recessionary effects, for instance by subsidizing staple food items.@@@@1@30@@oe@2-2-2013
20415035@unknown@formal@none@1@S@About 80% of Brazil's voters are believed to live near the poverty level.@@@@1@13@@oe@2-2-2013
20415036@unknown@formal@none@1@S@Of the three candidates with a serious chance of winning, Mr. Collor comes closest to advocating the sort of measures that economists say are necessary.@@@@1@25@@oe@2-2-2013
20415037@unknown@formal@none@1@S@But his inexperience raises doubts that he would have the political power to carry them out.@@@@1@16@@oe@2-2-2013
20415038@unknown@formal@none@1@S@The 67-year-old Mr. Brizola has been vague about his intentions and often inflammatory in his rhetoric, but analysts say he probably would be pragmatic.@@@@1@24@@oe@2-2-2013
20415039@unknown@formal@none@1@S@Mr. da Silva, a 43-year-old former factory worker and labor leader, is the most radical, vowing to withhold payments on the foreign debt and saying he "wouldn't go around putting the country up for sale to the highest bidder."@@@@1@39@@oe@2-2-2013
20415040@unknown@formal@none@1@S@But despite the differences in what they say, according to some analysts here, economic constraints mean the next president may not have many choices about what he does.@@@@1@28@@oe@2-2-2013
20416001@unknown@formal@none@1@S@Hospital Regulation Sparks Kentucky Feud@@@@1@5@@oe@2-2-2013
20416002@unknown@formal@none@1@S@WHICH IS the best medicine for runaway health costs: competition or regulation?@@@@1@12@@oe@2-2-2013
20416003@unknown@formal@none@1@S@The question is at the root of a brawl between Humana Inc., the big for-profit hospital and insurance company, and its not-for-profit brethren in its home state of Kentucky.@@@@1@29@@oe@2-2-2013
20416004@unknown@formal@none@1@S@The battle focuses on the state's certificate-of-need law, which regulates investment in new medical technology.@@@@1@15@@oe@2-2-2013
20416005@unknown@formal@none@1@S@The law has prevented $216 million of unnecessary expenditures since 1986, according to William S. Conn, president of the Kentucky Hospital Association.@@@@1@22@@oe@2-2-2013
20416006@unknown@formal@none@1@S@But according to David Jones, Humana's chief executive, it promotes technology monopolies, stifles innovation and raises prices.@@@@1@17@@oe@2-2-2013
20416007@unknown@formal@none@1@S@If the Legislature doesn't repeal the law, due for revision in 1990, Mr. Jones says Humana may move its insurance operations, including 3,000 jobs in Louisville, to another state.@@@@1@29@@oe@2-2-2013
20416008@unknown@formal@none@1@S@The company complains that it paid $10 million to non-Humana hospitals in its latest fiscal year for services provided to its insurance plan members.@@@@1@24@@oe@2-2-2013
20416009@unknown@formal@none@1@S@But Humana says its own facilities could serve its insured for less if they were properly equipped.@@@@1@17@@oe@2-2-2013
20416010@unknown@formal@none@1@S@Mr. Conn charges that Humana's own actions undermine its argument.@@@@1@10@@oe@2-2-2013
20416011@unknown@formal@none@1@S@When a hospital in Lexington installed a lithotripter last year, demand for a similar kidney-stone smashing machine at a Humana hospital in Louisville fell 34%.@@@@1@25@@oe@2-2-2013
20416012@unknown@formal@none@1@S@The Humana hospital responded by jacking up prices to make up for lost revenue, Mr. Conn says, and now charges as much as $8,000 for the procedure, which costs only about $3,500 in Lexington.@@@@1@34@@oe@2-2-2013
20416013@unknown@formal@none@1@S@Humana contends that $8,000 represents an extreme case and that its regular charge for lithotripsy is $4,900.@@@@1@17@@oe@2-2-2013
20416014@unknown@formal@none@1@S@Meanwhile, another hospital's proposal for a new-generation lithotripter is pending before the board that administers the certificate-of-need law.@@@@1@18@@oe@2-2-2013
20416015@unknown@formal@none@1@S@Humana, which wants to acquire one of the new machines itself, is on the record as opposed to the proposal.@@@@1@20@@oe@2-2-2013
20416016@unknown@formal@none@1@S@Debt-Burdened Doctors Seek Financial Security@@@@1@5@@oe@2-2-2013
20416017@unknown@formal@none@1@S@HEALTH-CARE experts have long worried that young doctors emerging from medical school with a mountain of debt will choose careers in high-paying specialties instead of primary care, where more physicians are needed most.@@@@1@33@@oe@2-2-2013
20416018@unknown@formal@none@1@S@Now there's a new wrinkle in what young doctors want: More than half of 300 residents responding to recent survey said they'd prefer a guaranteed salary over traditional fee-for-service compensation in their first professional position.@@@@1@35@@oe@2-2-2013
20416019@unknown@formal@none@1@S@And 81% preferred a group practice or health maintenance organization, while just 11% favored solo practice.@@@@1@16@@oe@2-2-2013
20416020@unknown@formal@none@1@S@"Ten years ago, a physician would go to a town and take out a loan (to start a practice)," says James Merritt, president of Merritt, Hawkins & Associates, an Irvine, Calif., physician recruiter that conducted the survey.@@@@1@37@@oe@2-2-2013
20416021@unknown@formal@none@1@S@"They won't do that very often today at all.@@@@1@9@@oe@2-2-2013
20416022@unknown@formal@none@1@S@They're looking for something that's very safe."@@@@1@7@@oe@2-2-2013
20416023@unknown@formal@none@1@S@The numbers behind such fears: The average debt of medical school graduates who borrowed to pay for their education jumped 10% to $42,374 this year from $38,489 in 1988, says the Association of American Medical Colleges.@@@@1@36@@oe@2-2-2013
20416024@unknown@formal@none@1@S@That's 115% more than in 1981.@@@@1@6@@oe@2-2-2013
20416025@unknown@formal@none@1@S@Money isn't the only reason for the shift in practice preferences.@@@@1@11@@oe@2-2-2013
20416026@unknown@formal@none@1@S@It reflects values of a generation that wants more time for families and personal interests, says John H. Moxley III, who directs physician-executive searches for Korn/Ferry International.@@@@1@27@@oe@2-2-2013
20416027@unknown@formal@none@1@S@"This is a change in the social fabric of medicine," he says.@@@@1@12@@oe@2-2-2013
20416028@unknown@formal@none@1@S@Related Roommates Trim Hospital Bills@@@@1@5@@oe@2-2-2013
20416029@unknown@formal@none@1@S@WHEN Catherine Bobar spent several weeks at the Medical Center of Vermont recently with a bone infection in her toe, she shared a room just like most patients.@@@@1@28@@oe@2-2-2013
20416030@unknown@formal@none@1@S@But unlike most patients, her roommate was her husband.@@@@1@9@@oe@2-2-2013
20416031@unknown@formal@none@1@S@"It was certainly good to have him handy," Mrs. Bobar says.@@@@1@11@@oe@2-2-2013
20416032@unknown@formal@none@1@S@The 12-bed "cooperative care" unit is one of about 18 nationwide where a family member or friend helps care for a patient in the hospital.@@@@1@25@@oe@2-2-2013
20416033@unknown@formal@none@1@S@"The philosophy is to make the patient and the family very responsible for a portion of their own care," says Anthony J. Grieco, medical director of cooperative care at New York University Medical Center, where the concept began 10 years ago.@@@@1@41@@oe@2-2-2013
20416034@unknown@formal@none@1@S@"It helps us, and them, while they're here, and it certainly makes them a better health-care team when they get home."@@@@1@21@@oe@2-2-2013
20416035@unknown@formal@none@1@S@It also saves money.@@@@1@4@@oe@2-2-2013
20416036@unknown@formal@none@1@S@Because patients require less attention from nurses and other staff, room charges are lower -- about $100 less per day than a regular room at the Vermont hospital.@@@@1@28@@oe@2-2-2013
20416037@unknown@formal@none@1@S@Cancer patients needing prolonged radiation therapy, diabetics learning to manage their blood sugar levels, and cardiac bypass patients are among those who spend time on cooperative-care units.@@@@1@27@@oe@2-2-2013
20416038@unknown@formal@none@1@S@The approach has generated so much interest that NYU is host to the first conference on cooperative care Nov. 30.@@@@1@20@@oe@2-2-2013
20416039@unknown@formal@none@1@S@"It's really part of the hospital of the 21st century," Dr. Grieco says.@@@@1@13@@oe@2-2-2013
20416040@unknown@formal@none@1@S@Odds and Ends@@@@1@3@@oe@2-2-2013
20416041@unknown@formal@none@1@S@THE CHIEF NURSING officer can be responsible for more than 1,000 employees and at least one-third of a hospital's budget; a head nurse typically oversees up to 80 employees and $8 million.@@@@1@32@@oe@2-2-2013
20416042@unknown@formal@none@1@S@So says the Commonwealth Fund, a New York philanthropist that's sponsoring a $1 million project to develop joint masters in business and nursing programs at 10 universities. . . .@@@@1@30@@oe@2-2-2013
20416043@unknown@formal@none@1@S@Meharry Medical College in Nashville, Tenn., launches a new research publication in the spring: the Journal on Health Care for the Poor and Underserved.@@@@1@24@@oe@2-2-2013
20417001@unknown@formal@none@1@S@A group of Michigan investors has offered to buy Knight-Ridder Inc.'s ailing Detroit Free Press for $68 million but has left unclear how the offer will be financed.@@@@1@28@@oe@2-2-2013
20417002@unknown@formal@none@1@S@The offer came just prior to arguments before the U.S. Supreme Court over whether the Free Press should be allowed to enter into a joint operating pact with Gannett Co.'s Detroit News.@@@@1@32@@oe@2-2-2013
20417003@unknown@formal@none@1@S@The group led by Birmingham, Mich., publicist William D. McMaster didn't name an investment banker backing the deal or say how much its members will contribute to the offer.@@@@1@29@@oe@2-2-2013
20417004@unknown@formal@none@1@S@Indeed, some individuals identified with the group said they haven't committed any money to the bid and weren't aware of it until they heard about it in local news accounts over the weekend.@@@@1@33@@oe@2-2-2013
20417005@unknown@formal@none@1@S@Knight-Ridder wouldn't comment on the offer.@@@@1@6@@oe@2-2-2013
20417006@unknown@formal@none@1@S@The company has said the paper isn't for sale, and has rebuffed Mr. McMaster's earlier requests for access to Free Press financial statements.@@@@1@23@@oe@2-2-2013
20417007@unknown@formal@none@1@S@In his letter to Knight-Ridder President James K. Batten, Mr. McMaster said he arrived at the $68 million figure using Knight-Ridder's corporate financial statements and comments by Knight-Ridder officials that the Free Press has a $50 million value in salvage.@@@@1@40@@oe@2-2-2013
20417008@unknown@formal@none@1@S@But in an interview, Mr. McMaster said he and his investment banker would need access to full financial records before firming up the offer.@@@@1@24@@oe@2-2-2013
20418001@unknown@formal@none@1@S@Mitsui & Co. said it started a joint venture with Dae Woong Chemical Co., a major pharmaceutical manufacturer in South Korea, to manufacture antibiotic medicines.@@@@1@25@@oe@2-2-2013
20418002@unknown@formal@none@1@S@The new company is capitalized at about $3.5 million.@@@@1@9@@oe@2-2-2013
20418003@unknown@formal@none@1@S@Mitsui expects the antibiotic products to be exported to Southeast Asia and Africa.@@@@1@13@@oe@2-2-2013
20418004@unknown@formal@none@1@S@It also hopes to enter the U.S. market.@@@@1@8@@oe@2-2-2013
20419001@unknown@formal@none@1@S@NRM Energy Co. said it filed materials with the Securities and Exchange Commission calling for it to restructure into a corporation from a limited partnership.@@@@1@25@@oe@2-2-2013
20419002@unknown@formal@none@1@S@The partnership said it is proposing the change largely because the provisions of its senior notes restrict it from making distributions on its units outstanding.@@@@1@25@@oe@2-2-2013
20419003@unknown@formal@none@1@S@NRM suspended its common distribution in June 1988 and the distribution on its $2 cumulative convertible acquisition preferred units in September.@@@@1@21@@oe@2-2-2013
20419004@unknown@formal@none@1@S@However, unpaid distributions on the acquisition preferred are cumulative and would total $23 million a year, hurting NRM's financial flexibility and its ability to raise capital, NRM said.@@@@1@28@@oe@2-2-2013
20419005@unknown@formal@none@1@S@In following several other oil and gas partnerships that have made the conversion to a corporation in the last year, NRM also noted that tax advantages for partnerships have diminished under new tax laws and said it would save $2 million a year in administrative costs from the change.@@@@1@49@@oe@2-2-2013
20419006@unknown@formal@none@1@S@Under the plan, NRM said holders of its common units will receive one share of new common stock in Edisto Resources Corp. for every 14.97 common units owned.@@@@1@28@@oe@2-2-2013
20419007@unknown@formal@none@1@S@Holders of NRM's $2 cumulative convertible acquisition preferred units will receive one new common share in Edisto for every 1.342 units they own.@@@@1@23@@oe@2-2-2013
20419008@unknown@formal@none@1@S@After the transaction, current common unitholders will own about 21.3% of Edisto, current acquisition preferred holders will own 72.3%, and current stockholders of Edisto will own about 6.4%, about the same stake as Edisto owns now in NRM.@@@@1@38@@oe@2-2-2013
20419009@unknown@formal@none@1@S@Edisto currently is the general partner of NRM.@@@@1@8@@oe@2-2-2013
20419010@unknown@formal@none@1@S@As the largest holder of acquisition preferred units, Mesa Limited Partnership would own about 28% of Edisto after the transaction.@@@@1@20@@oe@2-2-2013
20419011@unknown@formal@none@1@S@As part of the transaction, Edisto agreed to give Mesa, an Amarillo, Texas, oil and gas partnership managed by T. Boone Pickens Jr., a seat on its board.@@@@1@28@@oe@2-2-2013
20419012@unknown@formal@none@1@S@NRM said its $2.60 senior cumulative convertible preferred units will be converted into an equal number of shares of $2.60 senior cumulative convertible preferred stock of Edisto.@@@@1@27@@oe@2-2-2013
20419013@unknown@formal@none@1@S@The transaction is subject to approval of NRM unitholders of record on Oct. 23, among other conditions.@@@@1@17@@oe@2-2-2013
20419014@unknown@formal@none@1@S@NRM said it expects unitholders to vote on the restructuring at a meeting Dec. 15.@@@@1@15@@oe@2-2-2013
20420001@unknown@formal@none@1@S@Sherwin-Williams Co. and Whittaker Corp. said they've discontinued talks toward a definitive agreement regarding Sherwin-Williams' acquisition of Whittaker's chemical coating group.@@@@1@21@@oe@2-2-2013
20420002@unknown@formal@none@1@S@The companies reached an agreement in principle for the sale in August.@@@@1@12@@oe@2-2-2013
20420003@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20420004@unknown@formal@none@1@S@Cleveland-based Sherwin-Williams produces paints and coatings, while the Los Angeles-based Whittaker coatings group produces industrial coatings.@@@@1@16@@oe@2-2-2013
20421001@unknown@formal@none@1@S@USG Corp. agreed to sell its headquarters building here to Manufacturers Life Insurance Co. of Toronto, and will lease the 19-story facility until it moves to a new quarters in 1992.@@@@1@31@@oe@2-2-2013
20421002@unknown@formal@none@1@S@The building-materials concern didn't disclose terms of the sale, which will close in the first quarter of next year.@@@@1@19@@oe@2-2-2013
20421003@unknown@formal@none@1@S@Proceeds from the planned sale of the 250,000-square-foot building "will help reduce the debt incurred as a result of our July 1988 recapitalization," said a USG official.@@@@1@27@@oe@2-2-2013
20422001@unknown@formal@none@1@S@The recently revived enthusiasm among small investors for stock mutual funds has been damped by a jittery stock market and the tumult over program trading.@@@@1@25@@oe@2-2-2013
20422002@unknown@formal@none@1@S@After hitting two-year highs this summer, net sales of stock funds slowed in September, according to the Investment Company Institute, a trade group.@@@@1@23@@oe@2-2-2013
20422003@unknown@formal@none@1@S@The sales recovery screeched to a halt this month, some analysts say.@@@@1@12@@oe@2-2-2013
20422004@unknown@formal@none@1@S@"Confidence was starting to come back because we didn't have wildly volatile days," says Tyler Jenks, research director for Kanon Bloch Carre & Co., a Boston research firm.@@@@1@28@@oe@2-2-2013
20422005@unknown@formal@none@1@S@"Now everything" -- such as program trading and wide stock market swings -- "that everyone had pushed back in their consciousness is just sitting right there."@@@@1@26@@oe@2-2-2013
20422006@unknown@formal@none@1@S@Net sales of stock funds in September totaled $839.4 million, down from $1.1 billion in August, the institute said.@@@@1@19@@oe@2-2-2013
20422007@unknown@formal@none@1@S@But if reinvested dividends are excluded, investors put in only $340 million more than they pulled out for the month.@@@@1@20@@oe@2-2-2013
20422008@unknown@formal@none@1@S@October's numbers, which won't be released for a month, are down further, mutual fund executives say.@@@@1@16@@oe@2-2-2013
20422009@unknown@formal@none@1@S@Investors in stock funds didn't panic the weekend after mid-October's 190-point market plunge.@@@@1@13@@oe@2-2-2013
20422010@unknown@formal@none@1@S@Most of the those who left stock funds simply switched into money market funds.@@@@1@14@@oe@2-2-2013
20422011@unknown@formal@none@1@S@And some fund groups said investors actually became net buyers.@@@@1@10@@oe@2-2-2013
20422012@unknown@formal@none@1@S@But the stock market swings have continued.@@@@1@7@@oe@2-2-2013
20422013@unknown@formal@none@1@S@The recent outcry over program trading will cast a pall over the stock-fund environment in the coming months, some analysts say.@@@@1@21@@oe@2-2-2013
20422014@unknown@formal@none@1@S@"The public is very close to having had it," Mr. Jenks says.@@@@1@12@@oe@2-2-2013
20422015@unknown@formal@none@1@S@Investors pulled back from bond funds in September, too.@@@@1@9@@oe@2-2-2013
20422016@unknown@formal@none@1@S@Net sales of bond funds for the month totaled $1.1 billion, down two-thirds from $3.1 billion in August.@@@@1@18@@oe@2-2-2013
20422017@unknown@formal@none@1@S@The major reason: heavy outflows from high-risk, high-yield junk bond funds.@@@@1@11@@oe@2-2-2013
20422018@unknown@formal@none@1@S@Big withdrawals from the junk funds have continued this month.@@@@1@10@@oe@2-2-2013
20422019@unknown@formal@none@1@S@Overall, net sales of all mutual funds, excluding money market funds, fell to $1.9 billion in September from $4.2 billion in August, the trade group said.@@@@1@26@@oe@2-2-2013
20422020@unknown@formal@none@1@S@"Small net inflows into stock and bond funds were offset by slight declines in the value of mutual fund stock and bond portfolios" stemming from falling prices, said Jacob Dreyer, the institute's chief economist.@@@@1@34@@oe@2-2-2013
20422021@unknown@formal@none@1@S@Many small investors went for the safety of money market funds.@@@@1@11@@oe@2-2-2013
20422022@unknown@formal@none@1@S@Assets of these and other short-term funds surged more than $5 billion in September, the institute said.@@@@1@17@@oe@2-2-2013
20422023@unknown@formal@none@1@S@Analysts say additional investors transferred their assets into money funds this month.@@@@1@12@@oe@2-2-2013
20422024@unknown@formal@none@1@S@At Fidelity Investments, the nation's largest fund group, money funds continue to draw the most business, says Michael Hines, vice president, marketing.@@@@1@22@@oe@2-2-2013
20422025@unknown@formal@none@1@S@In October, net sales of stock funds at Fidelity dropped sharply, Mr. Hines said.@@@@1@14@@oe@2-2-2013
20422026@unknown@formal@none@1@S@But he emphasized that new accounts, new sales, inquiries and subsequent sales of stock funds are all up this month from September's level.@@@@1@23@@oe@2-2-2013
20422027@unknown@formal@none@1@S@Investor interest in stock funds "hasn't stalled at all," Mr. Hines maintains.@@@@1@12@@oe@2-2-2013
20422028@unknown@formal@none@1@S@He notes that most of the net sales drop stemmed from a three-day period following the Friday the 13th plunge.@@@@1@20@@oe@2-2-2013
20422029@unknown@formal@none@1@S@"If that follows through next month, then it will be a different story," he says.@@@@1@15@@oe@2-2-2013
20422030@unknown@formal@none@1@S@But, Mr. Hines adds, sales "based on a few days' events don't tell you much about October's trends."@@@@1@18@@oe@2-2-2013
20422031@unknown@formal@none@1@S@One trend that continues is growth in the money invested in funds.@@@@1@12@@oe@2-2-2013
20422032@unknown@formal@none@1@S@Buoyed by the continued inflows into money funds, assets of all mutual funds swelled to a record $953.8 billion in September, up fractionally from $949.3 billion in August.@@@@1@28@@oe@2-2-2013
20422033@unknown@formal@none@1@S@Stock-fund managers, meantime, went into October with less cash on hand than they held earlier this year.@@@@1@17@@oe@2-2-2013
20422034@unknown@formal@none@1@S@These managers held 9.8% of assets in cash at the end of September, down from 10.2% in August and 10.6% in September 1988.@@@@1@23@@oe@2-2-2013
20422035@unknown@formal@none@1@S@Large cash positions help buffer funds from market declines but can cut down on gains in rising markets.@@@@1@18@@oe@2-2-2013
20422036@unknown@formal@none@1@S@Managers of junk funds were bolstering their cash hoards after the September cash crunch at Campeau Corp.@@@@1@17@@oe@2-2-2013
20422037@unknown@formal@none@1@S@Junk-portfolio managers raised their cash position to 9.4% of assets in September from 8.3% in August.@@@@1@16@@oe@2-2-2013
20422038@unknown@formal@none@1@S@In September 1988, that level was 9.5%.@@@@1@7@@oe@2-2-2013
20422039@unknown@formal@none@1@S@Investors in all funds will seek safety in the coming months, some analysts say.@@@@1@14@@oe@2-2-2013
20422040@unknown@formal@none@1@S@Among stock funds, the conservative growth-and-income portfolios probably will remain popular, fund specialists say.@@@@1@14@@oe@2-2-2013
20422041@unknown@formal@none@1@S@"There will be a continuation and possibly greater focus on conservative equity funds, at the expense of growth and aggressive growth funds," says Avi Nachmany, an analyst at Strategic Insight, a New York fund-research concern.@@@@1@35@@oe@2-2-2013
20423001@unknown@formal@none@1@S@Secretary of State Baker, we read, decided to kill a speech that Robert Gates, deputy national security adviser and a career Soviet expert, was going to give to a student colloquium, the National Collegiate Security Conference.@@@@1@36@@oe@2-2-2013
20423002@unknown@formal@none@1@S@We keep wondering what Mr. Gates wanted to say.@@@@1@9@@oe@2-2-2013
20423003@unknown@formal@none@1@S@Perhaps he might have cited Mr. Gorbachev's need for "a stable currency, free and competitive markets, private property and real prices" and other pie-in-the-sky reforms.@@@@1@25@@oe@2-2-2013
20423004@unknown@formal@none@1@S@Perhaps he'd have called for "a decentralized political and economic system" without a dominant communist party.@@@@1@16@@oe@2-2-2013
20423005@unknown@formal@none@1@S@Or political arrangements "to alleviate the grievances and demands of Soviet ethnic minorities and republics."@@@@1@15@@oe@2-2-2013
20423006@unknown@formal@none@1@S@Why, a Bob Gates might even have said, "Nor are Soviet problems susceptible to rescue from abroad through abundant Western credits."@@@@1@21@@oe@2-2-2013
20423007@unknown@formal@none@1@S@If Mr. Gates had been allowed to say these things, we would now be hearing about "discord" and "disarray" on foreign policy.@@@@1@22@@oe@2-2-2013
20423008@unknown@formal@none@1@S@Dark hints would be raised that parts of the administration hope Mr. Gorbachev would fail, just as they were when Vice President Quayle voiced similar sentiments.@@@@1@26@@oe@2-2-2013
20423009@unknown@formal@none@1@S@It's somehow OK for Secretary Baker himself, however, to say all the same things.@@@@1@14@@oe@2-2-2013
20423010@unknown@formal@none@1@S@In fact, he did; the quotes above are from Mr. Baker's speech of two weeks ago.@@@@1@16@@oe@2-2-2013
20423011@unknown@formal@none@1@S@So far as we can see, there is no disagreement among Mr. Baker, Mr. Quayle, the Mr. Gates we've read, or for that matter President Bush.@@@@1@26@@oe@2-2-2013
20423012@unknown@formal@none@1@S@They all understand point one: Nothing the U.S. can do will make much difference in whether Mr. Gorbachev succeeds with perestroika.@@@@1@21@@oe@2-2-2013
20423013@unknown@formal@none@1@S@Perhaps Mr. Gates would emphasize more than Mr. Baker the many hurdles the Soviet leader must leap if he is going to succeed.@@@@1@23@@oe@2-2-2013
20423014@unknown@formal@none@1@S@But everyone agrees that Mr. Gorbachev's problems result from the failure of his own system.@@@@1@15@@oe@2-2-2013
20423015@unknown@formal@none@1@S@They can be relieved only by changing that system, not by pouring Western money into it.@@@@1@16@@oe@2-2-2013
20423016@unknown@formal@none@1@S@GATT membership will not matter to Donbas coal miners short of soap, nor will a START treaty make any difference to Ukrainian nationalists.@@@@1@23@@oe@2-2-2013
20423017@unknown@formal@none@1@S@On the other hand, so long as Mr. Gorbachev is easing his grip on his empire, everyone we've heard agrees that the U.S. can benefit by engaging him.@@@@1@28@@oe@2-2-2013
20423018@unknown@formal@none@1@S@If a deal can be made to cut the world's Ortegas loose from Moscow, why not?@@@@1@16@@oe@2-2-2013
20423019@unknown@formal@none@1@S@We don't expect much good from nuclear-arms control, but conventional-arms talks might demilitarize Eastern Europe.@@@@1@15@@oe@2-2-2013
20423020@unknown@formal@none@1@S@There's nothing in the least contradictory in all this, and it would be nice to think that Washington could tolerate a reasonably sophisticated, complex view.@@@@1@25@@oe@2-2-2013
20423021@unknown@formal@none@1@S@Yet much of the political culture seems intent on castigating the Bush administration for not "helping" Mr. Gorbachev.@@@@1@18@@oe@2-2-2013
20423022@unknown@formal@none@1@S@So every time a Bush official raises a doubt about Mr. Gorbachev, the Washington community shouts "Cold War" and "timidity," and an administration spokesman is quickly trotted out to reply, "Mr. Bush wants perestroika to succeed."@@@@1@36@@oe@2-2-2013
20423023@unknown@formal@none@1@S@Mr. Baker seems especially sensitive to the Washington ailment known as Beltway-itis.@@@@1@12@@oe@2-2-2013
20423024@unknown@formal@none@1@S@Its symptoms include a cold sweat at the sound of debate, clammy hands in the face of congressional criticism, and fainting spells when someone writes the word "controversy."@@@@1@28@@oe@2-2-2013
20423025@unknown@formal@none@1@S@As one unidentified official clearly in the late stages of the disease told the Times: "Baker just felt that there were some lines in the speech that could be misinterpreted and seized by the press."@@@@1@35@@oe@2-2-2013
20423026@unknown@formal@none@1@S@In short, the problem is not intra-administration disagreement, but preoccupation with the prospect that perestrokia might fail, and its political opponents will ask "Who lost Gorbachev?"@@@@1@26@@oe@2-2-2013
20423027@unknown@formal@none@1@S@Mr. Baker may want to avoid criticism from Senate Majority Leader George Mitchell, but as Secretary of State his audience is the entire Free World, not just Congress.@@@@1@28@@oe@2-2-2013
20423028@unknown@formal@none@1@S@In any case, he's likely to find that the more he muzzles his colleagues, the more leaks will pop up all around Washington, a lesson once learned by Henry Kissinger.@@@@1@30@@oe@2-2-2013
20423029@unknown@formal@none@1@S@Letting officials express their own nuances can be educational.@@@@1@9@@oe@2-2-2013
20423030@unknown@formal@none@1@S@We note that in Rome yesterday Defense Secretary Cheney said that European euphoria over Mr. Gorbachev is starting to be tempered by a recognition of "the magnitude of the problems he was trying to deal with."@@@@1@36@@oe@2-2-2013
20423031@unknown@formal@none@1@S@It is in the Western interest to see Mr. Gorbachev succeed.@@@@1@11@@oe@2-2-2013
20423032@unknown@formal@none@1@S@The odds are against him, as he himself would no doubt tell you.@@@@1@13@@oe@2-2-2013
20423033@unknown@formal@none@1@S@The ultimate outcome depends on what he does, not on what we do.@@@@1@13@@oe@2-2-2013
20423034@unknown@formal@none@1@S@Even if the press is ready to seize and misinterpret, these are not very complicated thoughts.@@@@1@16@@oe@2-2-2013
20423035@unknown@formal@none@1@S@Surely there is someone in the administration, maybe Bob Gates, who could explain them to college students, or even schoolchildren.@@@@1@20@@oe@2-2-2013
20424001@unknown@formal@none@1@S@Vernon E. Jordan was elected to the board of this transportation services concern.@@@@1@13@@oe@2-2-2013
20424002@unknown@formal@none@1@S@Mr. Jordan has served as executive director of the United Negro College Fund, director of the Voter Education Project of the Southern Regional Council and attorney-consultant to the U.S. Office of Economic Opportunity.@@@@1@33@@oe@2-2-2013
20424003@unknown@formal@none@1@S@His election increases Ryder's board to 14 members.@@@@1@8@@oe@2-2-2013
20425001@unknown@formal@none@1@S@The American Stock Exchange said a seat was sold for $160,000, down $5,000 from the previous sale last Friday.@@@@1@19@@oe@2-2-2013
20425002@unknown@formal@none@1@S@Seats are currently quoted at $151,000, bid, and $162,000, asked.@@@@1@10@@oe@2-2-2013
20426001@unknown@formal@none@1@S@Two gunmen entered a Maryland restaurant, ordered two employees to lie on the floor and shot them in the backs of their heads.@@@@1@23@@oe@2-2-2013
20426002@unknown@formal@none@1@S@The killers fled with less than $100.@@@@1@7@@oe@2-2-2013
20426003@unknown@formal@none@1@S@Describing this and other grisly killings, Sen. Strom Thurmond (R., S.C.) recently urged fellow lawmakers to revive a broad federal death penalty.@@@@1@22@@oe@2-2-2013
20426004@unknown@formal@none@1@S@"The ultimate punishment," he declared, "will protect the law-abiding from the vicious, cruel individuals who commit these crimes."@@@@1@18@@oe@2-2-2013
20426005@unknown@formal@none@1@S@There's just one problem: The law that Sen. Thurmond is pushing would be irrelevant in the case of the Maryland restaurant murders and almost all other killings.@@@@1@27@@oe@2-2-2013
20426006@unknown@formal@none@1@S@Most murders are state crimes, so any federal capital-punishment law probably would turn out to be more symbolism than substance.@@@@1@20@@oe@2-2-2013
20426007@unknown@formal@none@1@S@Yet the bill is riding high on the furor over drug trafficking.@@@@1@12@@oe@2-2-2013
20426008@unknown@formal@none@1@S@Senate Republicans, after repeatedly failing to attach death-penalty amendments to unrelated legislation, have finally gotten a full-blown death-penalty bill through committee.@@@@1@21@@oe@2-2-2013
20426009@unknown@formal@none@1@S@The Democratic leadership agreed to allow a floor vote on the issue before the end of the year -- a debate certain to focus on the alleged racial inequality of death sentencing.@@@@1@32@@oe@2-2-2013
20426010@unknown@formal@none@1@S@Even some Democrats concede that there is probably a majority in the Senate that favors some kind of broad capital-punishment measure.@@@@1@21@@oe@2-2-2013
20426011@unknown@formal@none@1@S@The pending bill, introduced by Mr. Thurmond, would revive the long-dormant federal death-penalty laws by instituting legal procedures required by the Supreme Court.@@@@1@23@@oe@2-2-2013
20426012@unknown@formal@none@1@S@In 1972, the high court swept aside all capital-punishment laws -- federal and state alike -- as unconstitutional.@@@@1@18@@oe@2-2-2013
20426013@unknown@formal@none@1@S@But in 1976, the court permitted resurrection of such laws, if they meet certain procedural requirements.@@@@1@16@@oe@2-2-2013
20426014@unknown@formal@none@1@S@For instance, juries would have to consider specific "aggravating" and "mitigating" factors before deciding whether to condemn someone to death.@@@@1@20@@oe@2-2-2013
20426015@unknown@formal@none@1@S@Since that 1976 ruling, 37 states have reintroduced the death penalty.@@@@1@11@@oe@2-2-2013
20426016@unknown@formal@none@1@S@But congressional Democrats have blocked the same from occurring at the federal level, with the exception of a 1988 law allowing capital punishment for certain drug-related homicides.@@@@1@27@@oe@2-2-2013
20426017@unknown@formal@none@1@S@The Thurmond bill would establish a federally administered death sentence for 23 crimes, most of which were formerly punishable by death under federal statutes that the Supreme Court invalidated.@@@@1@29@@oe@2-2-2013
20426018@unknown@formal@none@1@S@Among these crimes are murder on federal land, presidential assassination and espionage.@@@@1@12@@oe@2-2-2013
20426019@unknown@formal@none@1@S@The Thurmond bill would also add five new crimes punishable by death, including murder for hire.@@@@1@16@@oe@2-2-2013
20426020@unknown@formal@none@1@S@(Separately, the Senate last week passed a bill permitting execution of terrorists who kill Americans abroad.)@@@@1@16@@oe@2-2-2013
20426021@unknown@formal@none@1@S@Amid the swirl of punitive rhetoric surrounding the issue, one critical question involves whether a federal death penalty, on top of existing state laws, would deter any would-be criminals.@@@@1@29@@oe@2-2-2013
20426022@unknown@formal@none@1@S@For one thing, it's unlikely that many people would receive federal death sentences, let alone be executed.@@@@1@17@@oe@2-2-2013
20426023@unknown@formal@none@1@S@Most of the crimes incorporated in the Thurmond bill are exceedingly rare -- killing a Supreme Court justice, for instance, or deliberately causing a train wreck that results in a death.@@@@1@31@@oe@2-2-2013
20426024@unknown@formal@none@1@S@In fact, only 28 defendants would have been eligible for federal death sentences if the Thurmond bill had been in effect in the past three years, according to a study by the Senate Judiciary Committee's Democratic staff.@@@@1@37@@oe@2-2-2013
20426025@unknown@formal@none@1@S@The last federal execution before the Supreme Court's 1972 ruling banning the death penalty took place in 1963, meaning that the federal government didn't exercise its execution authority for eight years.@@@@1@31@@oe@2-2-2013
20426026@unknown@formal@none@1@S@"In that sense, the whole debate is sort of a fraud," argues a Democratic Senate staff member.@@@@1@17@@oe@2-2-2013
20426027@unknown@formal@none@1@S@"It's distracting attention from serious issues, like how to make DEA, FBI and Customs work together" on drug enforcement.@@@@1@19@@oe@2-2-2013
20426028@unknown@formal@none@1@S@Republicans acknowledge that few people would be executed under the Thurmond bill, but they contend that isn't the point.@@@@1@19@@oe@2-2-2013
20426029@unknown@formal@none@1@S@"Many scholars are of the opinion that the mere existence of the penalty deters many people from the commission of capital crimes," says Sen. Orrin Hatch (R., Utah).@@@@1@28@@oe@2-2-2013
20426030@unknown@formal@none@1@S@Executions, regardless of how frequently they occur, are also "proper retribution" for heinous crimes, Mr. Hatch argues.@@@@1@17@@oe@2-2-2013
20426031@unknown@formal@none@1@S@Thomas Boyd, a senior Justice Department official, says the new federal drug-related crimes punishable by death since last November may result in a jump in capital sentences, though that hasn't happened so far.@@@@1@33@@oe@2-2-2013
20426032@unknown@formal@none@1@S@In addition to resuscitating the old issue of whether death sentences deter criminals, this bill has made race a major part of the death-penalty debate.@@@@1@25@@oe@2-2-2013
20426033@unknown@formal@none@1@S@Before the bill left committee, Sen. Edward Kennedy (D., Mass.) attached an amendment that would allow a defendant to escape from a death sentence in jurisdictions shown to have meted out executions in a racist manner.@@@@1@36@@oe@2-2-2013
20426034@unknown@formal@none@1@S@The amendment prompted an ironic protest from Mr. Thurmond, who complained that it would "kill" capital punishment.@@@@1@17@@oe@2-2-2013
20426035@unknown@formal@none@1@S@A large number of studies suggest that state judges and juries have imposed the penalty in a racially discriminatory fashion.@@@@1@20@@oe@2-2-2013
20426036@unknown@formal@none@1@S@And the Kennedy amendment would invade not only federal but state sentencings, in two important ways.@@@@1@16@@oe@2-2-2013
20426037@unknown@formal@none@1@S@It would allow all defendants to introduce statistical evidence showing racially disproportionate application of the death penalty in the past.@@@@1@20@@oe@2-2-2013
20426038@unknown@formal@none@1@S@And it would shift the burden to prosecutors to disprove that discrimination caused any statistical racial disparities.@@@@1@17@@oe@2-2-2013
20426039@unknown@formal@none@1@S@"That burden is very difficult, if not impossible, to meet," says Mr. Boyd.@@@@1@13@@oe@2-2-2013
20426040@unknown@formal@none@1@S@"How do you prove a negative?"@@@@1@6@@oe@2-2-2013
20426041@unknown@formal@none@1@S@Since most prosecutors wouldn't be able to demonstrate conclusively that racial considerations didn't affect sentencing, executions everywhere might come to a halt, Mr. Boyd explains.@@@@1@25@@oe@2-2-2013
20426042@unknown@formal@none@1@S@At least 15 major studies purport to show that particular states have imposed the death penalty disproportionately against killers of whites compared with blacks, and against black defendants compared with white defendants.@@@@1@32@@oe@2-2-2013
20426043@unknown@formal@none@1@S@Conservatives question the validity of the studies and note that the Supreme Court ruled in 1987 that such research, regardless of its accuracy, isn't relevant to a constitutional attack on a particular death sentence.@@@@1@34@@oe@2-2-2013
20426044@unknown@formal@none@1@S@The Kennedy amendment would, in effect, legislate around the Supreme Court ruling.@@@@1@12@@oe@2-2-2013
20426045@unknown@formal@none@1@S@Lawyers would eagerly seize on the provision in their death-penalty appeals, says Richard Burr, director of the NAACP Legal Defense and Educational Fund's capital-punishment defense team.@@@@1@26@@oe@2-2-2013
20426046@unknown@formal@none@1@S@Mr. Kennedy failed to get his amendment incorporated into last year's anti-drug legislation, and it will be severely attacked on the Senate floor this time around.@@@@1@26@@oe@2-2-2013
20426047@unknown@formal@none@1@S@But if it survives, it could prompt other statutory changes, according to the Mr. Burr.@@@@1@15@@oe@2-2-2013
20426048@unknown@formal@none@1@S@It might force Congress and the states to narrow the death penalty only to convictions shown to be relatively free of racial imbalance -- murders by repeat offenders who torture their victims, perhaps.@@@@1@33@@oe@2-2-2013
20426049@unknown@formal@none@1@S@Narrowing the penalty in this fashion would clearly reduce whatever deterrent effect it now has.@@@@1@15@@oe@2-2-2013
20426050@unknown@formal@none@1@S@And that, in turn, would only strengthen the argument of those who oppose execution under any circumstances.@@@@1@17@@oe@2-2-2013
20427001@unknown@formal@none@1@S@A state judge postponed a decision on a move by holders of Telerate Inc. to block the tender offer of Dow Jones & Co. for the 33% of Telerate it doesn't already own.@@@@1@33@@oe@2-2-2013
20427002@unknown@formal@none@1@S@Vice Chancellor Maurice A. Hartnett III of Delaware's Court of Chancery heard arguments for more than two hours here, but he made no comment and asked no questions.@@@@1@28@@oe@2-2-2013
20427003@unknown@formal@none@1@S@He could rule as early as today on the motion seeking a temporary injunction against the Dow Jones offer.@@@@1@19@@oe@2-2-2013
20427004@unknown@formal@none@1@S@Dow Jones has offered to pay $18 a share, or about $576 million, for the remaining Telerate stake.@@@@1@18@@oe@2-2-2013
20427005@unknown@formal@none@1@S@The offer will expire at 5 p.m. EST on Nov. 6, unless extended again.@@@@1@14@@oe@2-2-2013
20427006@unknown@formal@none@1@S@Robert Kornreich, an attorney for the Telerate holders, told Judge Hartnett the Dow Jones offer is "arrogant" and "hostile."@@@@1@19@@oe@2-2-2013
20427007@unknown@formal@none@1@S@He accused Dow Jones of "using unfair means to obtain the stock at an unfair price."@@@@1@16@@oe@2-2-2013
20427008@unknown@formal@none@1@S@Michael Rauch, an attorney for Dow Jones, defended the offer as adequate, based on what the company considers realistic projections of Telerate's revenue growth, in the range of 12%.@@@@1@29@@oe@2-2-2013
20427009@unknown@formal@none@1@S@He also contended that the plaintiffs failed to cite any legal authority that would justify such an injunction.@@@@1@18@@oe@2-2-2013
20427010@unknown@formal@none@1@S@Telerate provides information about financial markets through an electronic network.@@@@1@10@@oe@2-2-2013
20427011@unknown@formal@none@1@S@Dow Jones publishes The Wall Street Journal, Barron's magazine, other periodicals and community newspapers and operates electronic business information services.@@@@1@20@@oe@2-2-2013
20428001@unknown@formal@none@1@S@Japan's exports of cars, trucks and buses declined 2.4% to 535,322 units in September from a year earlier, the Japan Automobile Manufacturers Association said.@@@@1@24@@oe@2-2-2013
20428002@unknown@formal@none@1@S@The association attributed the drop to a trend among auto makers to move manufacturing operations overseas.@@@@1@16@@oe@2-2-2013
20428003@unknown@formal@none@1@S@With the exception of August, when exports rose 2.1%, exports have declined every month from year-earlier levels since March.@@@@1@19@@oe@2-2-2013
20429001@unknown@formal@none@1@S@Lone Star Technologies Inc. said its Lone Star Steel Co. unit sued it in federal court here, seeking to recover an intercompany receivable valued at a minimum of $23 million.@@@@1@30@@oe@2-2-2013
20429002@unknown@formal@none@1@S@The lawsuit was filed by Lone Star Steel's unsecured creditors' committee on behalf of Lone Star Steel, which has been operating under Chapter 11 of the federal Bankruptcy Code since June 30.@@@@1@32@@oe@2-2-2013
20429003@unknown@formal@none@1@S@Lone Star Technologies said it and its subsidiary's creditors agree that the parent company owes the unit money, but they haven't been able to reach agreement on the amount.@@@@1@29@@oe@2-2-2013
20429004@unknown@formal@none@1@S@Judith Elkin, lawyer for the creditors, said the creditors group is challenging certain accounting entries on the parent company's books and estimates that the receivable owed the steel company could be as much as $40 million.@@@@1@36@@oe@2-2-2013
20429005@unknown@formal@none@1@S@The Lone Star Steel lawsuit also asks the court to rule that Lone Star Technologies is jointly responsible for a $4.5 million Lone Star Steel pension payment that was due, but wasn't paid, in September and that the parent company can't recover the amount from its subsidiary if the parent company makes the payment.@@@@1@54@@oe@2-2-2013
20429006@unknown@formal@none@1@S@Separately, Lone Star Technologies said the bankruptcy court granted Lone Star Steel an extension until year end on its exclusive period to present a reorganization plan.@@@@1@26@@oe@2-2-2013
20429007@unknown@formal@none@1@S@The 120-day exclusivity period was to expire yesterday.@@@@1@8@@oe@2-2-2013
20429008@unknown@formal@none@1@S@Under Chapter 11, a company continues to operate, but is protected from creditor lawsuits while it tries to work out a plan to pay its debt.@@@@1@26@@oe@2-2-2013
20430001@unknown@formal@none@1@S@Nothing was going to hold up the long-delayed settlement of Britton vs. Thomasini.@@@@1@13@@oe@2-2-2013
20430002@unknown@formal@none@1@S@Not even an earthquake.@@@@1@4@@oe@2-2-2013
20430003@unknown@formal@none@1@S@On the afternoon of Oct. 17, after hours of haggling with five insurance-claims adjusters over settling a toxic-waste suit, four lawyers had an agreement in hand.@@@@1@26@@oe@2-2-2013
20430004@unknown@formal@none@1@S@But as Judge Thomas M. Jenkins donned his robes so he could give final approval, the major earthquake struck, its epicenter not far from his courtroom in Redwood City, Calif.@@@@1@30@@oe@2-2-2013
20430005@unknown@formal@none@1@S@The walls shook; the building rocked.@@@@1@6@@oe@2-2-2013
20430006@unknown@formal@none@1@S@For a while, it looked like the deal -- not to mention the courtroom itself -- was on the verge of collapse.@@@@1@22@@oe@2-2-2013
20430007@unknown@formal@none@1@S@"The judge came out and said, `Quick, let's put this on the record,'" says Sandy Bettencourt, the judge's court reporter.@@@@1@20@@oe@2-2-2013
20430008@unknown@formal@none@1@S@"I said, `NOW?'@@@@1@3@@oe@2-2-2013
20430009@unknown@formal@none@1@S@I was shaking the whole time."@@@@1@6@@oe@2-2-2013
20430010@unknown@formal@none@1@S@A 10-gallon water cooler had toppled onto the floor, soaking the red carpeting.@@@@1@13@@oe@2-2-2013
20430011@unknown@formal@none@1@S@Lights flickered on and off; plaster dropped from the ceiling, the walls still shook and an evacuation alarm blared outside.@@@@1@20@@oe@2-2-2013
20430012@unknown@formal@none@1@S@The four lawyers climbed out from under a table.@@@@1@9@@oe@2-2-2013
20430013@unknown@formal@none@1@S@"Let's close the door," said the judge as he climbed to his bench.@@@@1@13@@oe@2-2-2013
20430014@unknown@formal@none@1@S@At stake was an $80,000 settlement involving who should pay what share of cleanup costs at the site of a former gas station, where underground fuel tanks had leaked and contaminated the soil.@@@@1@33@@oe@2-2-2013
20430015@unknown@formal@none@1@S@And the lawyers were just as eager as the judge to wrap it up.@@@@1@14@@oe@2-2-2013
20430016@unknown@formal@none@1@S@"We were never going to get these insurance companies to agree again," says John V. Trump, a San Francisco defense lawyer in the case.@@@@1@24@@oe@2-2-2013
20430017@unknown@formal@none@1@S@Indeed, the insurance adjusters had already bolted out of the courtroom.@@@@1@11@@oe@2-2-2013
20430018@unknown@formal@none@1@S@The lawyers went to work anyway, duly noting that the proceeding was taking place during a major earthquake.@@@@1@18@@oe@2-2-2013
20430019@unknown@formal@none@1@S@Ten minutes later, it was done.@@@@1@6@@oe@2-2-2013
20430020@unknown@formal@none@1@S@For the record, Jeffrey Kaufman, an attorney for Fireman's Fund, said he was "rattled -- both literally and figuratively."@@@@1@19@@oe@2-2-2013
20430021@unknown@formal@none@1@S@"My belief is always, if you've got a settlement, you read it into the record." says Judge Jenkins, now known in his courthouse as "Shake 'Em Down Jenkins."@@@@1@28@@oe@2-2-2013
20430022@unknown@formal@none@1@S@The insurance adjusters think differently.@@@@1@5@@oe@2-2-2013
20430023@unknown@formal@none@1@S@"I didn't know if it was World War III or what," says Melanie Carvain of Morristown, N.J.@@@@1@17@@oe@2-2-2013
20430024@unknown@formal@none@1@S@"Reading the settlement into the record was the last thing on my mind.@@@@1@13@@oe@2-2-2013
20431001@unknown@formal@none@1@S@Edison Brothers Stores Inc. said it agreed to buy 229 Foxmoor women's apparel stores from Foxmoor Specialty Stores Corp., a unit of Dylex Ltd. of Toronto.@@@@1@26@@oe@2-2-2013
20431002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20431003@unknown@formal@none@1@S@Edison said the acquired stores would be integrated into its current operations.@@@@1@12@@oe@2-2-2013
20432001@unknown@formal@none@1@S@BROWN-FORMAN Corp. (Louisville, Ky.) --@@@@1@5@@oe@2-2-2013
20432002@unknown@formal@none@1@S@David R. Jackson, formerly vice president, managing director of corporate communications for Maxwell Communication Inc., was named vice president and assistant to the chairman of this maker of alcoholic beverages and consumer products.@@@@1@33@@oe@2-2-2013
20433001@unknown@formal@none@1@S@Your Oct. 4 front page noted that British lawyers have to wear wigs in court and that these wigs are made from horses' tails.@@@@1@24@@oe@2-2-2013
20433002@unknown@formal@none@1@S@Do you think the British know something that we don't?@@@@1@10@@oe@2-2-2013
20433003@unknown@formal@none@1@S@Yale Jay Lubkin@@@@1@3@@oe@2-2-2013
20433004@unknown@formal@none@1@S@Owings, Md.@@@@1@2@@oe@2-2-2013
20434001@unknown@formal@none@1@S@Applause for "Sometimes, Talk Is the Best Medicine," in your Oct. 5 Marketplace section.@@@@1@14@@oe@2-2-2013
20434002@unknown@formal@none@1@S@Indeed, the "art of doctoring" does contribute to better health results and discourages unwarranted malpractice litigation.@@@@1@16@@oe@2-2-2013
20434003@unknown@formal@none@1@S@Elaborating on the concern about doctors' sacrificing earnings in order to spend "talk time" with patients, we are finding the quality of the time spent is the key to true rapport.@@@@1@31@@oe@2-2-2013
20434004@unknown@formal@none@1@S@Even brief conversations can show caring and trust, and need not restrict the efficiency of the communication or restrain the doctor's earnings.@@@@1@22@@oe@2-2-2013
20434005@unknown@formal@none@1@S@The issue is far-reaching.@@@@1@4@@oe@2-2-2013
20434006@unknown@formal@none@1@S@Right now, the American populace is spending about 12% of our gross national product on health care.@@@@1@17@@oe@2-2-2013
20434007@unknown@formal@none@1@S@That amounts to more than $350 billion a year.@@@@1@9@@oe@2-2-2013
20434008@unknown@formal@none@1@S@And it is estimated that more than 20% of that, $70 billion, goes to "defensive medicine" -- those measures taken by doctors to protect themselves from the most unlikely possibilities.@@@@1@30@@oe@2-2-2013
20434009@unknown@formal@none@1@S@So we all stand to benefit if patient-physician relations become a "partnership."@@@@1@12@@oe@2-2-2013
20434010@unknown@formal@none@1@S@President North American Physicians Insurance Risk Retention Group@@@@1@8@@oe@2-2-2013
20435001@unknown@formal@none@1@S@Chrysler Corp. Chairman Lee A. Iacocca said the nation's No. 3 auto maker will need to close one or two of its assembly plants because of the slowdown hitting the industry.@@@@1@31@@oe@2-2-2013
20435002@unknown@formal@none@1@S@In an interview with the trade journal Automotive News, Mr. Iacocca declined to say which plants will close or when Chrysler will make the moves.@@@@1@25@@oe@2-2-2013
20435003@unknown@formal@none@1@S@But he said, "we have too many plants in our system.@@@@1@11@@oe@2-2-2013
20435004@unknown@formal@none@1@S@So the older or most inefficient capacity has got to go."@@@@1@11@@oe@2-2-2013
20435005@unknown@formal@none@1@S@According to industry analysts, Chrysler plants most likely to close are the St. Louis No. 1 facility, which builds Chrysler LeBaron and Dodge Daytona models; the Toledo, Ohio, Jeep plant, which dates back to the early 1900s; and two Canadian plants that build the Jeep Wrangler and Chrysler's full-sized vans.@@@@1@50@@oe@2-2-2013
20435006@unknown@formal@none@1@S@Chrysler has had to temporarily close the St. Louis and Toledo plants recently because of excess inventories of vehicles built there.@@@@1@21@@oe@2-2-2013
20435007@unknown@formal@none@1@S@At Chrysler's 1990 model preview last month, Chrysler Motors President Robert A. Lutz said the No. 3 auto maker, along with other U.S. manufacturers, might be forced to "realign . . . capacity" if market demand doesn't improve.@@@@1@38@@oe@2-2-2013
20435008@unknown@formal@none@1@S@But Mr. Iacocca's remarks are the most specific indication to date of how many plants could be in jeopardy.@@@@1@19@@oe@2-2-2013
20435009@unknown@formal@none@1@S@General Motors Corp. has signaled that as many as five of its U.S. and Canadian plants may not survive the mid-1990s as it struggles to trim its excess vehicle-production capacity.@@@@1@30@@oe@2-2-2013
20435010@unknown@formal@none@1@S@The overcapacity problem has intensified in recent years, with foreign auto makers beginning car and truck production in the U.S.@@@@1@20@@oe@2-2-2013
20435011@unknown@formal@none@1@S@With companies such as Honda Motor Co., Toyota Motor Corp. and Nissan Motor Co. running so-called transplant auto operations, Japanese auto production in the U.S. will reach one million vehicles this year.@@@@1@32@@oe@2-2-2013
20435012@unknown@formal@none@1@S@"Unless the market goes to 19 million units -- which we all know it's not going to do -- we have the inescapable fact that the transplants are adding capacity," Mr. Lutz said last month.@@@@1@35@@oe@2-2-2013
20435013@unknown@formal@none@1@S@The Japanese-managed plants eventually will have the capacity to build some 2.5 million vehicles in the U.S. and that will translate into "market share that is going to have to come out of somebody," he added.@@@@1@36@@oe@2-2-2013
20435014@unknown@formal@none@1@S@Already Chrysler has closed the Kenosha, Wis., plant it acquired when it bought American Motors Corp. in 1987.@@@@1@18@@oe@2-2-2013
20435015@unknown@formal@none@1@S@Chrysler has also launched a $1 billion cost-cutting program that will cut about 2,300 white-collar workers from the payroll in the next few months.@@@@1@24@@oe@2-2-2013
20436001@unknown@formal@none@1@S@Revco D.S. Inc., the drugstore chain that filed for bankruptcy-court protection last year, received a $925 million offer from a group led by Texas billionaire Robert Bass.@@@@1@27@@oe@2-2-2013
20436002@unknown@formal@none@1@S@Revco reacted cautiously, saying the plan would add $260 million of new debt to the highly leveraged company.@@@@1@18@@oe@2-2-2013
20436003@unknown@formal@none@1@S@It was Revco's huge debt from its $1.3 billion leveraged buy-out in 1986 that forced it to seek protection under Chapter 11 of the federal Bankruptcy Code.@@@@1@27@@oe@2-2-2013
20436004@unknown@formal@none@1@S@Revco insists that the proposal is simply an "expression of interest," because under Chapter 11 Revco has "exclusivity rights" until Feb. 28.@@@@1@22@@oe@2-2-2013
20436005@unknown@formal@none@1@S@Those rights prevent anyone other than Revco from proposing a reorganization plan.@@@@1@12@@oe@2-2-2013
20436006@unknown@formal@none@1@S@Also under Chapter 11, a reorganization plan is subject to approval by bondholders, banks and other creditors.@@@@1@17@@oe@2-2-2013
20436007@unknown@formal@none@1@S@A financial adviser for Revco bondholders, David Schulte, of Chilmark Partners, had mixed reactions to the offer.@@@@1@17@@oe@2-2-2013
20436008@unknown@formal@none@1@S@He said he feared a Revco reorganization might force bondholders to accept a "cheap deal," and that the Bass group's offer would give them more money.@@@@1@26@@oe@2-2-2013
20436009@unknown@formal@none@1@S@However, the group is offering to pay off bondholders in cash only -- $260.5 million -- and no equity.@@@@1@19@@oe@2-2-2013
20436010@unknown@formal@none@1@S@The Revco bonds are high-yield, high-risk "junk" bonds; holders have $750 million in claims against Revco, Mr. Schulte said.@@@@1@19@@oe@2-2-2013
20436011@unknown@formal@none@1@S@Revco received the offer Oct. 20, but issued a response yesterday only after a copy of the proposal was made public by bondholders.@@@@1@23@@oe@2-2-2013
20436012@unknown@formal@none@1@S@Acadia Partners Limited Partnership, a Fort Worth, Texas, partnership that includes the Robert M. Bass Group, made the proposal.@@@@1@19@@oe@2-2-2013
20436013@unknown@formal@none@1@S@Mr. Bass is based in Fort Worth.@@@@1@7@@oe@2-2-2013
20436014@unknown@formal@none@1@S@Analysts said the nation's second-largest drugstore chain was a valuable company, despite its financial woes.@@@@1@15@@oe@2-2-2013
20436015@unknown@formal@none@1@S@Its problem, they say, is that management paid too much in the leveraged buy-out and the current $515 million debt load is keeping Revco in the red.@@@@1@27@@oe@2-2-2013
20436016@unknown@formal@none@1@S@"If bought at the right price, it could still be profitable," said Jeffrey Stein, an analyst at McDonald & Co., Cleveland.@@@@1@21@@oe@2-2-2013
20436017@unknown@formal@none@1@S@In addition, Revco's 1,900 stores in 27 states represent a lot of real estate, he said, and demographics are helping pharmacies: The nation's aging population will boost demand for prescription drugs.@@@@1@31@@oe@2-2-2013
20436018@unknown@formal@none@1@S@Last week, Revco's parent company, Anac Holding Corp., said the company reported a loss of $16.2 million for the fiscal first quarter, compared with a loss of $27.9 million in the year-earlier quarter.@@@@1@33@@oe@2-2-2013
20436019@unknown@formal@none@1@S@Sales were $597.8 million, up 2.4% from the previous year.@@@@1@10@@oe@2-2-2013
20436020@unknown@formal@none@1@S@The company, based in Twinsburg, Ohio, said its operating profit before depreciation and amortization increased 51%, to $9.2 million from $6.1 million.@@@@1@22@@oe@2-2-2013
20436021@unknown@formal@none@1@S@Acadia Partners and the Bass Group declined to comment.@@@@1@9@@oe@2-2-2013
20436022@unknown@formal@none@1@S@The partnership also includes American Express Co., Equitable Life Assurance Society of the U.S. and Shearson Lehman Hutton Inc.@@@@1@19@@oe@2-2-2013
20436023@unknown@formal@none@1@S@The offer consists of $410.5 million in cash and the rest in notes.@@@@1@13@@oe@2-2-2013
20436024@unknown@formal@none@1@S@Acadia would sell up to 10% of the equity in the reorganized company to creditors and bondholders in exchange for the cash distribution, but creditors and bondholders would receive no discount for their shares.@@@@1@34@@oe@2-2-2013
20436025@unknown@formal@none@1@S@Revco's chairman and chief executive officer, Boake A. Sells, said both the company and the bondholders have put forth reorganization plans, but little progress has been made since negotiations began this summer.@@@@1@32@@oe@2-2-2013
20436026@unknown@formal@none@1@S@He said he has not met with representatives from Acadia.@@@@1@10@@oe@2-2-2013
20436027@unknown@formal@none@1@S@Any reorganization proposal, Mr. Sells said, is difficult to assess because it must be agreed upon by the company, bondholders, banks and other creditors.@@@@1@24@@oe@2-2-2013
20436028@unknown@formal@none@1@S@Revco has $1.5 billion in claims outstanding.@@@@1@7@@oe@2-2-2013
20436029@unknown@formal@none@1@S@"It's not like the board can decide" by itself, Mr. Sells said, adding, "we're indifferent to (the Bass) plan.@@@@1@19@@oe@2-2-2013
20436030@unknown@formal@none@1@S@We just want a plan that satisfies creditors and at the end leaves a healthy Revco."@@@@1@16@@oe@2-2-2013
20436031@unknown@formal@none@1@S@But Mr. Schulte, the bondholders' adviser, said Revco was dragging its feet in responding to the proposal.@@@@1@17@@oe@2-2-2013
20436032@unknown@formal@none@1@S@"They want to pretend it doesn't exist," he said.@@@@1@9@@oe@2-2-2013
20436033@unknown@formal@none@1@S@Mr. Schulte, who met with Acadia representatives on Oct. 10, said, "It's certainly a responsible offer.@@@@1@16@@oe@2-2-2013
20436034@unknown@formal@none@1@S@It's not an effort to steal the company" in the middle of the night.@@@@1@14@@oe@2-2-2013
20437001@unknown@formal@none@1@S@Copper futures prices failed to extend Friday's rally.@@@@1@8@@oe@2-2-2013
20437002@unknown@formal@none@1@S@Declines came because of concern that demand for copper may slow down.@@@@1@12@@oe@2-2-2013
20437003@unknown@formal@none@1@S@The December contract was down three cents a pound, settling at $1.1280, which was just above the day's low of $1.1270.@@@@1@21@@oe@2-2-2013
20437004@unknown@formal@none@1@S@Futures prices fell during three of five sessions last week, and the losses, individually and cumulatively, were greater than the advances.@@@@1@21@@oe@2-2-2013
20437005@unknown@formal@none@1@S@Two of the major factors buoying prices, the prolonged strikes at the Highland Valley mine in Canada and the Cananea mine in Mexico, were finally resolved.@@@@1@26@@oe@2-2-2013
20437006@unknown@formal@none@1@S@Also, the premiums paid by the U.S. government on a purchase of copper for the U.S. Mint were lower than expected, and acted as a price depressant, analysts said.@@@@1@29@@oe@2-2-2013
20437007@unknown@formal@none@1@S@The mint purchases were at premiums about 4 1/2 cents a pound above the respective prices for the copper.@@@@1@19@@oe@2-2-2013
20437008@unknown@formal@none@1@S@At the time merchants were asking for premiums of about five cents a pound.@@@@1@14@@oe@2-2-2013
20437009@unknown@formal@none@1@S@All this has led to prolonged selling in futures, mostly on the part of computer-guided funds.@@@@1@16@@oe@2-2-2013
20437010@unknown@formal@none@1@S@Prices fell through levels regarded as important support areas, which added to the selling.@@@@1@14@@oe@2-2-2013
20437011@unknown@formal@none@1@S@The reluctance of traders to buy contracts indicates that they have begun focusing on demand rather than supply.@@@@1@18@@oe@2-2-2013
20437012@unknown@formal@none@1@S@At least one analyst noted that as production improves, the concern among traders is whether the prospective increased supply will find buyers because of uncertainty over national economies.@@@@1@28@@oe@2-2-2013
20437013@unknown@formal@none@1@S@"Demand from Japan is expected to continue strong, but not from other areas of the world into the first quarter of next year," he said.@@@@1@25@@oe@2-2-2013
20437014@unknown@formal@none@1@S@Japan normally depends heavily on the Highland Valley and Cananea mines as well as the Bougainville mine in Papua New Guinea.@@@@1@21@@oe@2-2-2013
20437015@unknown@formal@none@1@S@Recently, Japan has been buying copper elsewhere.@@@@1@7@@oe@2-2-2013
20437016@unknown@formal@none@1@S@But as Highland Valley and Cananea begin operating, they are expected to resume their roles as Japan's suppliers.@@@@1@18@@oe@2-2-2013
20437017@unknown@formal@none@1@S@According to Fred Demler, metals economist for Drexel Burnham Lambert, New York, "Highland Valley has already started operating and Cananea is expected to do so soon."@@@@1@26@@oe@2-2-2013
20437018@unknown@formal@none@1@S@The Bougainville mine is generally expected to remain closed until at least the end of the year.@@@@1@17@@oe@2-2-2013
20437019@unknown@formal@none@1@S@It hasn't been operating since May 15 because of attacks by native landowners.@@@@1@13@@oe@2-2-2013
20437020@unknown@formal@none@1@S@A recent attempt to resume operations was cut short quickly by these attacks.@@@@1@13@@oe@2-2-2013
20437021@unknown@formal@none@1@S@However, traders disregarded a potential production disruption in Chile and a continued drop in inventories.@@@@1@15@@oe@2-2-2013
20437022@unknown@formal@none@1@S@Workers at two Chilean mines, Los Bronces and El Soldado, which belong to the Exxon-owned Minera Disputado group, will vote Thursday on whether to strike after a two-year labor pact ends today.@@@@1@32@@oe@2-2-2013
20437023@unknown@formal@none@1@S@The mines produced a total of 110,000 tons of copper in 1988.@@@@1@12@@oe@2-2-2013
20437024@unknown@formal@none@1@S@According to Drexel's Mr. Demler, the potential strike is expected to be resolved quickly, which may be one reason why the situation didn't affect prices much.@@@@1@26@@oe@2-2-2013
20437025@unknown@formal@none@1@S@Another analyst said that, if there was any concern, it was that a strike could encourage other walkouts in Chile.@@@@1@20@@oe@2-2-2013
20437026@unknown@formal@none@1@S@London Metal Exchange copper inventories fell 550 tons last week to 83,950 tons, a smaller-than-expected decline.@@@@1@16@@oe@2-2-2013
20437027@unknown@formal@none@1@S@But that development also had little effect on traders' sentiment.@@@@1@10@@oe@2-2-2013
20437028@unknown@formal@none@1@S@Mr. Demler said that stocks of copper in U.S. producers' hands at the end of September were down 16,000 metric tons from August to 30,000 tons.@@@@1@26@@oe@2-2-2013
20437029@unknown@formal@none@1@S@Outside the U.S., he said, producer stocks at the end of August were 273,000 tons, down 3,000 tons from the end of July.@@@@1@23@@oe@2-2-2013
20437030@unknown@formal@none@1@S@Consumer stocks of copper in the U.S. fell to 44,000 tons at the end of September from 54,000 tons a month earlier, and stocks of copper held by consumers and merchants outside of the U.S. at the end of July stood at 123,000 tons, down from 125,000 tons in June.@@@@1@50@@oe@2-2-2013
20437031@unknown@formal@none@1@S@The high point of foreigners' copper stocks this year was 136,000 tons at the end of April, according to Mr. Demler.@@@@1@21@@oe@2-2-2013
20437032@unknown@formal@none@1@S@In other commodity markets yesterday:@@@@1@5@@oe@2-2-2013
20437033@unknown@formal@none@1@S@GRAINS AND SOYBEANS:@@@@1@3@@oe@2-2-2013
20437034@unknown@formal@none@1@S@The prices of most corn, soybean and wheat futures contracts dropped slightly as farmers in the Midwest continued to rebuild stockpiles that were depleted by the 1988 drought.@@@@1@28@@oe@2-2-2013
20437035@unknown@formal@none@1@S@Buying by the Soviets has helped to prop up corn prices in recent weeks, but a lack of any new purchases kept prices in the doldrums.@@@@1@26@@oe@2-2-2013
20437036@unknown@formal@none@1@S@COFFEE:@@@@1@1@@oe@2-2-2013
20437037@unknown@formal@none@1@S@Futures prices rose slightly in a market filled with rumors that a new international coffee agreement might still be achieved.@@@@1@20@@oe@2-2-2013
20437038@unknown@formal@none@1@S@The December contract ended with a gain of 1.29 cents a pound at 74.35 cents.@@@@1@15@@oe@2-2-2013
20437039@unknown@formal@none@1@S@According to one analyst, prices opened higher because of reports over the weekend that Brazil and Colombia, at the Pan-American summit meeting in Costa Rica, had agreed to a reduction in their coffee export quotas for the sake of creating a new agreement.@@@@1@43@@oe@2-2-2013
20437040@unknown@formal@none@1@S@The reports, attributed to the Colombian minister of economic development, said Brazil would give up 500,000 bags of its quota and Colombia 200,000 bags, the analyst said.@@@@1@27@@oe@2-2-2013
20437041@unknown@formal@none@1@S@These reports were later denied by a high Brazilian official, who said Brazil wasn't involved in any coffee discussions on quotas, the analyst said.@@@@1@24@@oe@2-2-2013
20437042@unknown@formal@none@1@S@The Colombian minister was said to have referred to a letter that he said President Bush sent to Colombian President Virgilio Barco, and in which President Bush said it was possible to overcome obstacles to a new agreement.@@@@1@38@@oe@2-2-2013
20437043@unknown@formal@none@1@S@The minister was also quoted as saying that a new pact could be achieved during the first half of next year, according to the analyst.@@@@1@25@@oe@2-2-2013
20437044@unknown@formal@none@1@S@PRECIOUS METALS:@@@@1@2@@oe@2-2-2013
20437045@unknown@formal@none@1@S@Futures prices showed modest changes in light trading volume.@@@@1@9@@oe@2-2-2013
20437046@unknown@formal@none@1@S@December delivery gold eased 40 cents an ounce to $380.80.@@@@1@10@@oe@2-2-2013
20437047@unknown@formal@none@1@S@December silver was off 3.7 cents an ounce at $5.2830.@@@@1@10@@oe@2-2-2013
20437048@unknown@formal@none@1@S@January platinum rose 90 cents an ounce at $500.20.@@@@1@9@@oe@2-2-2013
20437049@unknown@formal@none@1@S@The market turned quiet after rising sharply late last week, according to one analyst.@@@@1@14@@oe@2-2-2013
20437050@unknown@formal@none@1@S@Last week's uncertainty in the stock market and a weaker dollar triggered a flight to safety, he said, but yesterday the market lacked such stimuli.@@@@1@25@@oe@2-2-2013
20437051@unknown@formal@none@1@S@There was some profit-taking because prices for all the precious metals had risen to levels at which there was resistance to further advance, he said.@@@@1@25@@oe@2-2-2013
20437052@unknown@formal@none@1@S@The dollar was also slightly firmer and prompted some selling, as well, according to the analyst.@@@@1@16@@oe@2-2-2013
20438001@unknown@formal@none@1@S@Louisiana-Pacific Corp. said its board authorized the purchase of as many as five million of its common shares for employee stock plans and other general corporate purposes.@@@@1@27@@oe@2-2-2013
20438002@unknown@formal@none@1@S@The forest-products concern currently has about 38 million shares outstanding.@@@@1@10@@oe@2-2-2013
20438003@unknown@formal@none@1@S@In yesterday's composite trading on the New York Stock Exchange, Louisiana-Pacific shares closed at $39.25, down 37.5 cents.@@@@1@18@@oe@2-2-2013
20439001@unknown@formal@none@1@S@When the Supreme Soviet passed laws on workers' rights in May 1987 and on self-managing cooperatives a year later, some Western observers assumed Mikhail Gorbachev had launched the Soviet Union on a course that would lead inevitably to the creation of a market economy.@@@@1@44@@oe@2-2-2013
20439002@unknown@formal@none@1@S@Their only doubt concerned the possibility that Mr. Gorbachev might not survive the opposition that his reforms would arouse and that the whole process might be reversed.@@@@1@27@@oe@2-2-2013
20439003@unknown@formal@none@1@S@If Mr. Gorbachev's goal is the creation of a free market, he and these Western observers have good reason to fear for his future, as economic liberalization within communist societies leads inexorably to demands for fundamental political reform accompanied by civil unrest.@@@@1@42@@oe@2-2-2013
20439004@unknown@formal@none@1@S@These fears were clearly apparent when, last week, Secretary of State James Baker blocked a speech by Robert Gates, deputy national security adviser and Soviet expert, on the ground that it was too pessimistic about the chances of Mr. Gorbachev's economic reforms succeeding.@@@@1@43@@oe@2-2-2013
20439005@unknown@formal@none@1@S@Yet the Soviet leader's readiness to embark on foreign visits and steady accumulation of personal power, particularly since the last Politburo reshuffle on Sept. 30, do not suggest that Mr. Gorbachev is on the verge of being toppled; nor does he look likely to reverse the powers of perestroika.@@@@1@49@@oe@2-2-2013
20439006@unknown@formal@none@1@S@Indeed, the Soviet miners strike this summer clearly demonstrated that Mr. Gorbachev must proceed with economic reform.@@@@1@17@@oe@2-2-2013
20439007@unknown@formal@none@1@S@But is he so clever that he has achieved the political equivalent of making water run uphill?@@@@1@17@@oe@2-2-2013
20439008@unknown@formal@none@1@S@And has he truly persuaded the Communist Party to accept economic change of a kind that will, sooner or later, lead to its demise?@@@@1@24@@oe@2-2-2013
20439009@unknown@formal@none@1@S@An alternative and more convincing explanation, confirmed by recent events and a close inspection of the Gorbachev program, is that the new Soviet economic and social structures are intended to conform to a model other than that of the market.@@@@1@40@@oe@2-2-2013
20439010@unknown@formal@none@1@S@For example, while the laws on individual labor activity allow a citizen to earn a living independent of the state, strict provisions are attached on how far this may lead to the development of a free market.@@@@1@37@@oe@2-2-2013
20439011@unknown@formal@none@1@S@Before becoming self-employed, or setting up a cooperative, workers must seek permission from the local soviet (council).@@@@1@17@@oe@2-2-2013
20439012@unknown@formal@none@1@S@Permission is far from automatic: The soviets have the legal right to turn down applications and impose conditions, and they appear to be exercising these powers.@@@@1@26@@oe@2-2-2013
20439013@unknown@formal@none@1@S@Private dressmaking, for example, is allowed in 10 Soviet republics but banned by five; shoemaking is allowed in seven but illegal in nine.@@@@1@23@@oe@2-2-2013
20439014@unknown@formal@none@1@S@The controls on cooperatives appeared relatively liberal when first introduced.@@@@1@10@@oe@2-2-2013
20439015@unknown@formal@none@1@S@But that changed following a resolution from the Supreme Soviet banning cooperatives from operating in some areas of the economy, and permitting activity in others only if the cooperatives are under contract to the state.@@@@1@35@@oe@2-2-2013
20439016@unknown@formal@none@1@S@All independent media activity is now illegal, which perhaps is not surprising, but so is the manufacture of perfume, cosmetics, household chemicals and sand candles.@@@@1@25@@oe@2-2-2013
20439017@unknown@formal@none@1@S@Medical cooperatives, among the most successful in the U.S.S.R., are banned from providing general-practitioner services (their main source of income), carrying out surgery, and treating cancer patients, drug addicts and pregnant women.@@@@1@32@@oe@2-2-2013
20439018@unknown@formal@none@1@S@Earlier this month, the Supreme Soviet adopted two more resolutions restricting the freedom of cooperatives: The first enables the soviets to set prices for which goods may be sold; the second bans cooperatives from buying "industrial and food goods" from the state or other cooperatives.@@@@1@45@@oe@2-2-2013
20439019@unknown@formal@none@1@S@If Mr. Gorbachev is looking toward unleashing the productive forces of the market, these latest resolutions are nothing short of reckless.@@@@1@21@@oe@2-2-2013
20439020@unknown@formal@none@1@S@Along with some other revealing indicators, these developments suggest that while Mr. Gorbachev wishes to move away from some rigid central controls, he is bent on creating economic structures of a kind that would scarcely find favor with the Austrian or Chicago schools of economic thought.@@@@1@46@@oe@2-2-2013
20439021@unknown@formal@none@1@S@Mr. Gorbachev has ruled out the use of the market to solve the problem of insufficient consumer goods.@@@@1@18@@oe@2-2-2013
20439022@unknown@formal@none@1@S@He told the Congress of People's Deputies on May 30: "We do not share this approach, since it would immediately destroy the social situation and disrupt all the processes in the country."@@@@1@32@@oe@2-2-2013
20439023@unknown@formal@none@1@S@Having rejected central economic planning for economic reasons, and the market for fear of the social (political) consequences, Mr. Gorbachev seeks a "third way" that would combine the discipline and controls of the former with the economic benefits of the latter.@@@@1@41@@oe@2-2-2013
20439024@unknown@formal@none@1@S@Most important, this would leave the party intact and its monopoly of political power largely undisturbed.@@@@1@16@@oe@2-2-2013
20439025@unknown@formal@none@1@S@Indeed, Mr. Gorbachev's proposals display a close conceptual resemblance to the tenets of Italian fascism, whose architects spoke specifically of a "third way": of having produced a historic synthesis of socialism and capitalism.@@@@1@33@@oe@2-2-2013
20439026@unknown@formal@none@1@S@They, too, promised to combine economic efficiency with order and discipline.@@@@1@11@@oe@2-2-2013
20439027@unknown@formal@none@1@S@The emergence of Russian corporatism had been anticipated in journalist George Urban's introduction to a series of colloquies -- "Can the Soviet System Survive Reform?" -- published this spring.@@@@1@29@@oe@2-2-2013
20439028@unknown@formal@none@1@S@"Communism will reach its final stage of development in a feckless Russo -- corporation-socialist in form, nationalistic in content and Oriental in style -- that will puzzle the world with alternating feats of realism and recklessness. . . ."@@@@1@39@@oe@2-2-2013
20439029@unknown@formal@none@1@S@The fascist concept of corporatism envisaged an "organic" society in which citizens were spiritually and morally unified, and prepared to sacrifice themselves for the nation.@@@@1@25@@oe@2-2-2013
20439030@unknown@formal@none@1@S@This unification was to be brought about through policies and institutions that would unite workers and employers with government in a fully integrated and "harmonic" society.@@@@1@26@@oe@2-2-2013
20439031@unknown@formal@none@1@S@The key to the creation of the "organic" state lay in the formation of "natural" groups that would undertake the role of decision-making.@@@@1@23@@oe@2-2-2013
20439032@unknown@formal@none@1@S@By contrast, a parliamentary system based on abstract political rights and groups was held to cause, rather than resolve, conflict.@@@@1@20@@oe@2-2-2013
20439033@unknown@formal@none@1@S@The closeness of Soviet perestroika to the fascist social blueprint of Mussolini was evident when Mr. Gorbachev presented his economic vision to the Soviet Congress.@@@@1@25@@oe@2-2-2013
20439034@unknown@formal@none@1@S@In doing so, he neither rejected a socialist planned economy nor embraced the free market.@@@@1@15@@oe@2-2-2013
20439035@unknown@formal@none@1@S@Instead, he proposed a "law-governed economy," in which there would be a "clear-cut division between state direction of the economy and economic management."@@@@1@23@@oe@2-2-2013
20439036@unknown@formal@none@1@S@The latter would be undertaken by "enterprises, joint stock companies and cooperatives."@@@@1@12@@oe@2-2-2013
20439037@unknown@formal@none@1@S@These would not function independently, but would act together to form "combines, unions and associations" to tackle problems and coordinate their activities.@@@@1@22@@oe@2-2-2013
20439038@unknown@formal@none@1@S@Mr. Gorbachev is in a much stronger position to pursue the corporatist ideal than was Mussolini, who was never able to influence business giants such as Pirelli and Fiat.@@@@1@29@@oe@2-2-2013
20439039@unknown@formal@none@1@S@The Soviet Communist Party has the power to shape corporate development and mold it into a body dependent upon it.@@@@1@20@@oe@2-2-2013
20439040@unknown@formal@none@1@S@To ensure the loyalty of the business sector, Mr. Gorbachev may offer concessions and powers that will allow the business community to preserve its own interests, probably by restricting competition.@@@@1@30@@oe@2-2-2013
20439041@unknown@formal@none@1@S@However, Mr. Gorbachev must ensure that within this "alliance" the business sector remains subordinate to the party.@@@@1@17@@oe@2-2-2013
20439042@unknown@formal@none@1@S@At the same time, he must give it sufficient freedom to provide the economic benefits so desperately needed.@@@@1@18@@oe@2-2-2013
20439043@unknown@formal@none@1@S@It is the promise of economic returns that is supposed to make the corporatist model attractive to both the party and labor.@@@@1@22@@oe@2-2-2013
20439044@unknown@formal@none@1@S@The work force provides the third arm of the "alliance."@@@@1@10@@oe@2-2-2013
20439045@unknown@formal@none@1@S@Within the alliance it is supposed to act as a balancing force, guarding against excessive control by government or abuse of its economic position by business, for either could result in a deterioration of its living standards (under the new resolutions, workers councils may demand that a cooperative be closed or its prices be reduced).@@@@1@55@@oe@2-2-2013
20439046@unknown@formal@none@1@S@By providing workers with the opportunity to move into the private sector where wages tend to be higher, and by holding out the promise of more consumer goods, Mr. Gorbachev hopes to revive the popularity of the party.@@@@1@38@@oe@2-2-2013
20439047@unknown@formal@none@1@S@At the same time, the strategy requires that he deal effectively with those who seek genuine Western-style political pluralism.@@@@1@19@@oe@2-2-2013
20439048@unknown@formal@none@1@S@The most important development in Mr. Gorbachev's policy for marginalizing the opposition movement is the claim that the U.S.S.R. also suffers from terrorism.@@@@1@23@@oe@2-2-2013
20439049@unknown@formal@none@1@S@An increasing number of references by the Soviet press to opposition groups now active in the U.S.S.R., particularly the Democratic Union, allege that they show "terroristic tendencies" and claim that they would be prepared to kill in order to achieve their aims.@@@@1@42@@oe@2-2-2013
20439050@unknown@formal@none@1@S@It is possible that, in perpetuating such myths, the ground is being laid for the arrest of opposition activists on the ground of terrorism.@@@@1@24@@oe@2-2-2013
20439051@unknown@formal@none@1@S@Mr. Gorbachev would appear to see his central task, however, as that of ensuring that foundations of an alliance among labor, capital and the state are properly laid before the demands for a multiparty system reach a crescendo.@@@@1@38@@oe@2-2-2013
20439052@unknown@formal@none@1@S@If he were able to construct a popular and efficient corporatist system, he or his heir would be wellplaced to rein in political opposition, and to re-establish control in Eastern Europe.@@@@1@31@@oe@2-2-2013
20439053@unknown@formal@none@1@S@The weaknesses in his plan do not lie in the political calculations -- Mr. Gorbachev is a consummate political leader, perhaps one of the greatest -- but in its economic prescription.@@@@1@31@@oe@2-2-2013
20439054@unknown@formal@none@1@S@Contrary to widespread belief, Mussolini failed to live up to his promise to make the trains run on time; it is doubtful whether Soviet-style corporatism will make Soviet trains run on time, or fill the shops with goods that the consumers so desperately crave.@@@@1@44@@oe@2-2-2013
20439055@unknown@formal@none@1@S@Miss Brady is deputy director of the Russian Research Foundation in London.@@@@1@12@@oe@2-2-2013
20440001@unknown@formal@none@1@S@New construction contracting climbed 8% in September to an annualized $274.2 billion, with commercial, industrial and public-works contracts providing most of the increase, according to F.W. Dodge Group.@@@@1@28@@oe@2-2-2013
20440002@unknown@formal@none@1@S@Through the first nine months of the year, the unadjusted total of all new construction was $199.6 billion, flat compared with a year earlier.@@@@1@24@@oe@2-2-2013
20440003@unknown@formal@none@1@S@The South was off 2% after the first nine months, while the North Central region was up 3%.@@@@1@18@@oe@2-2-2013
20440004@unknown@formal@none@1@S@The Northeast and West regions were unchanged.@@@@1@7@@oe@2-2-2013
20440005@unknown@formal@none@1@S@A small decline in total construction for the entire year is possible if contracting for housing doesn't increase in response to this year's lower mortgage rates, said George A. Christie, vice president and chief economist of Dodge, the forecasting division of publisher McGraw-Hill Inc.@@@@1@44@@oe@2-2-2013
20440006@unknown@formal@none@1@S@The seasonally adjusted Dodge Index reached 175 in September, its highest level this year, from 162 in August.@@@@1@18@@oe@2-2-2013
20440007@unknown@formal@none@1@S@The index uses a base of 100 in 1982.@@@@1@9@@oe@2-2-2013
20440008@unknown@formal@none@1@S@Newly contracted residential work edged up 2% in September to an annualized $121.2 billion, largely because multifamily building rebounded from a very weak August.@@@@1@24@@oe@2-2-2013
20440009@unknown@formal@none@1@S@"At the end of the third quarter, there was still no evidence of renewed home building in response to the midyear decline of mortgage rates," Mr. Christie said.@@@@1@28@@oe@2-2-2013
20440010@unknown@formal@none@1@S@Housing has been weak all year and especially so in the past five months.@@@@1@14@@oe@2-2-2013
20440011@unknown@formal@none@1@S@Contracting for non-residential buildings rose 10% in September to an annualized $100.8 billion.@@@@1@13@@oe@2-2-2013
20440012@unknown@formal@none@1@S@Commercial and industrial construction rose sharply, partly because of three large projects, each expected to cost more than $100 million.@@@@1@20@@oe@2-2-2013
20440013@unknown@formal@none@1@S@Institutional building, such as hospitals and schools, eased in September following a surge in August.@@@@1@15@@oe@2-2-2013
20440014@unknown@formal@none@1@S@Although the third quarter was the best so far this year for non-residential building, weakness early in the year held the nine-month total to $69.6 billion, up just 1% from a year earlier.@@@@1@33@@oe@2-2-2013
20440015@unknown@formal@none@1@S@Public-works and utility projects, also known as non-building contracting, grew 18% to $52.2 billion in September, but the nine-month total of $36.9 billion was down 3% from a year earlier.@@@@1@30@@oe@2-2-2013
20440016@unknown@formal@none@1@S@The Sept. 30 end of the federal fiscal year may have prodded contractors to get any behind-schedule road and bridge construction under way "before the clock ran out," Mr. Christie said, referring to threatened 5% across-the-board budget cuts.@@@@1@38@@oe@2-2-2013
20440017@unknown@formal@none@1@S@a-Monthly construction contract values are reported on an annualized, seasonally adjusted basis.@@@@1@12@@oe@2-2-2013
20441001@unknown@formal@none@1@S@Moody's Investors Service Inc. said it lowered ratings on long-term debt of CS First Boston Inc., the holding company of Wall Street giant First Boston Corp., because of First Boston's "aggressive merchant banking risk" in highly leveraged takeovers.@@@@1@38@@oe@2-2-2013
20441002@unknown@formal@none@1@S@In downgrading CS First Boston's subordinated domestic, Euromarket and Swiss debt to single-A-3 from single-A-2, Moody's is matching a move made by the other major credit rating concern, Standard & Poor's Corp., several months ago.@@@@1@35@@oe@2-2-2013
20441003@unknown@formal@none@1@S@Moody's also confirmed the Prime-1 rating, its highest, on CS First Boston's commercial paper, or short-term corporate IOUs.@@@@1@18@@oe@2-2-2013
20441004@unknown@formal@none@1@S@In addition, Moody's said it downgraded Financiere Credit Suisse-First Boston's senior and subordinated Swiss debt to single-A-2 from single-A-1 and lowered Financiere CSFB N.V.'s junior subordinated perpetual Eurodebt, guaranteed by Financiere Credit Suisse -- First Boston, to single-A-3 from single-A-2.@@@@1@40@@oe@2-2-2013
20441005@unknown@formal@none@1@S@About $550 million of long-term debt is affected, according to Moody's.@@@@1@11@@oe@2-2-2013
20441006@unknown@formal@none@1@S@A spokesman for CS First Boston said: "We remain committed to a full range of businesses, including merchant banking.@@@@1@19@@oe@2-2-2013
20441007@unknown@formal@none@1@S@We think that the ratings revision is unfortunate but not unexpected.@@@@1@11@@oe@2-2-2013
20441008@unknown@formal@none@1@S@Our commitment to manage these businesses profitably will continue."@@@@1@9@@oe@2-2-2013
20441009@unknown@formal@none@1@S@First Boston's merchant banking risks mounted last month as highly leveraged Campeau Corp., First Boston's most lucrative client of the decade, was hit by a cash squeeze and the high-risk junk bond market tumbled.@@@@1@34@@oe@2-2-2013
20441010@unknown@formal@none@1@S@First Boston incurred millions of dollars of losses on Campeau securities it owned as well as on special securities it couldn't sell.@@@@1@22@@oe@2-2-2013
20441011@unknown@formal@none@1@S@First Boston financings for several other highly leveraged clients, including Ohio Mattress, unraveled as the high-risk junk bond market plummeted.@@@@1@20@@oe@2-2-2013
20441012@unknown@formal@none@1@S@Moody's said its rating changes actions "reflect CS First Boston's aggressive merchant banking risk as well as the risk profile of its current merchant banking exposures."@@@@1@26@@oe@2-2-2013
20441013@unknown@formal@none@1@S@It said CS First Boston "has consistently been one of the most aggressive firms in merchant banking" and that "a very significant portion" of the firm's profit in recent years has come from merchant banking-related business.@@@@1@36@@oe@2-2-2013
20441014@unknown@formal@none@1@S@"Moody's believes that the uncertain environment for merchant banking could put pressure on CS First Boston's performance," the rating concern said, citing "continued problems" from the firm's exposures to "various Campeau-related firms" and to Ohio Mattress.@@@@1@36@@oe@2-2-2013
20441015@unknown@formal@none@1@S@"These two exposures alone represent a very substantial portion of CS First Boston's equity," Moody's said.@@@@1@16@@oe@2-2-2013
20441016@unknown@formal@none@1@S@"Total merchant banking exposures are in excess of the firm's equity.@@@@1@11@@oe@2-2-2013
20442001@unknown@formal@none@1@S@Quotron Systems Inc. plans to cut about 400, or 16%, of its 2,500 employees over the next several months.@@@@1@19@@oe@2-2-2013
20442002@unknown@formal@none@1@S@"This action will continue to keep operating expenses in line" with revenue, said J. David Hann, president and chief executive officer of Los Angeles-based Quotron.@@@@1@25@@oe@2-2-2013
20442003@unknown@formal@none@1@S@The move by the financial information and services subsidiary of Citicorp is a "response to changing conditions in the retail securities industry, which has been contracting" since October 1987's stock market crash, the executive added.@@@@1@35@@oe@2-2-2013
20442004@unknown@formal@none@1@S@Quotron, which Citicorp purchased in 1986, provides price quotations for securities, particularly stocks.@@@@1@13@@oe@2-2-2013
20442005@unknown@formal@none@1@S@Quotron also provides trading and other systems, services for brokerage firms, and communications-network services.@@@@1@14@@oe@2-2-2013
20442006@unknown@formal@none@1@S@Independent providers of financial information, including Quotron, have been under some pressure as the major securities houses try to regain their hold on the production of market data and on the related revenue.@@@@1@33@@oe@2-2-2013
20442007@unknown@formal@none@1@S@Shearson, Goldman, Sachs & Co., Morgan Stanley & Co. and Salomon Inc. are discussing formation of a group to sell securities-price data.@@@@1@22@@oe@2-2-2013
20442008@unknown@formal@none@1@S@The job cuts, to be made in a number of areas at various job levels, are "a streamlining of operations," a spokeswoman said.@@@@1@23@@oe@2-2-2013
20442009@unknown@formal@none@1@S@The company has no immediate plans to close any operations, she said, but Quotron may subcontract some work that it has been doing in-house, including refurbishment and production of Quotron 1000 equipment used in delivering financial data.@@@@1@37@@oe@2-2-2013
20442010@unknown@formal@none@1@S@The spokeswoman said the move isn't directly a response to Quotron's loss of its two biggest customers, Merrill Lynch & Co. and American Express Co.'s Shearson Lehman Hutton Inc., to Automated Data Processing Inc. earlier this year.@@@@1@37@@oe@2-2-2013
20442011@unknown@formal@none@1@S@The spokeswoman noted that last week, Kidder, Peabody & Co., the securities subsidiary of General Electric Co., chose a Quotron subsidiary to provide order-processing services.@@@@1@25@@oe@2-2-2013
20442012@unknown@formal@none@1@S@And Oct. 24, Quotron said it will market the automated trading system of broker-dealer Chapdelaine Government Securities Inc.@@@@1@18@@oe@2-2-2013
20442013@unknown@formal@none@1@S@Quotron isn't profitable on Citicorp's books because of the interest charges the New York bank holding company incurred in buying the financial-data concern for $680 million, says Ronald I. Mandle, analyst for Sanford C. Bernstein & Co.@@@@1@37@@oe@2-2-2013
20442014@unknown@formal@none@1@S@But Citicorp "does view Quotron) as being crucial to the financial-services business in the 1990s," the analyst added.@@@@1@18@@oe@2-2-2013
20442015@unknown@formal@none@1@S@This past summer, Quotron sold its customer-service unit, employing 600, to Phoenix Technologies Inc., a closely held computer-service firm in Valley Forge, Pa.@@@@1@23@@oe@2-2-2013
20442016@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20443001@unknown@formal@none@1@S@The Oakland Athletics' four-game sweep over the San Francisco Giants in the World Series may widen already-sizable losses that the ABC network will incur on the current, final year of its baseball contract.@@@@1@33@@oe@2-2-2013
20443002@unknown@formal@none@1@S@The 1989 Series, disrupted by a devastating earthquake and diminished in national interest because both teams came from the San Francisco Bay area, is likely to end up as the lowest-rated Series of this decade and probably since the event has been broadcast.@@@@1@43@@oe@2-2-2013
20443003@unknown@formal@none@1@S@The first three games were seen by an average of only 17% of U.S. homes, a sharp decline from the 23.7% rating for last year's Series.@@@@1@26@@oe@2-2-2013
20443004@unknown@formal@none@1@S@A final ratings tally from A.C. Nielsen Co. is due today.@@@@1@11@@oe@2-2-2013
20443005@unknown@formal@none@1@S@The sweep by the A's, whose pitchers and home-run hitters dominated the injury-prone Giants, will only make things worse for ABC, owned by Capital Cities/ABC Inc.@@@@1@26@@oe@2-2-2013
20443006@unknown@formal@none@1@S@The network had been expected to have losses of as much as $20 million on baseball this year.@@@@1@18@@oe@2-2-2013
20443007@unknown@formal@none@1@S@It isn't clear how much those losses may widen because of the short Series.@@@@1@14@@oe@2-2-2013
20443008@unknown@formal@none@1@S@Had the contest gone a full seven games, ABC could have reaped an extra $10 million in ad sales on the seventh game alone, compared with the ad take it would have received for regular prime-time shows.@@@@1@37@@oe@2-2-2013
20443009@unknown@formal@none@1@S@ABC had based its budget for baseball on a six-game Series.@@@@1@11@@oe@2-2-2013
20443010@unknown@formal@none@1@S@A network spokesman wouldn't comment, and ABC Sports officials declined to be interviewed.@@@@1@13@@oe@2-2-2013
20443011@unknown@formal@none@1@S@But some industry executives said ABC, in anticipation of a four-game sweep, limited its losses by jacking up the number of commercials it aired in the third and fourth games.@@@@1@30@@oe@2-2-2013
20443012@unknown@formal@none@1@S@A World Series telecast typically carries 56 30-second commercials, but by the fourth game ABC was cramming in 60 to 62 ads to generate extra revenue.@@@@1@26@@oe@2-2-2013
20443013@unknown@formal@none@1@S@ABC's baseball experience may be of interest to CBS Inc., which next season takes over the broadcasting of all baseball playoffs in a four-year television contract priced at $1.06 billion.@@@@1@30@@oe@2-2-2013
20443014@unknown@formal@none@1@S@CBS Sports President Neal Pilson has conceded only that CBS will have a loss in the first year.@@@@1@18@@oe@2-2-2013
20443015@unknown@formal@none@1@S@But other industry executives contend the losses could reach $250 million over four years and could go even higher if the World Series end in four-game romps.@@@@1@27@@oe@2-2-2013
20443016@unknown@formal@none@1@S@The Series typically is among the highest-rated sports events on television.@@@@1@11@@oe@2-2-2013
20443017@unknown@formal@none@1@S@Last year's series, broadcast by General Electric Co.'s NBC, was the lowest-rated Series in four years; instead of featuring a major East Coast team against a West Coast team, it pitted the Los Angeles Dodgers against the losing Oakland A's.@@@@1@40@@oe@2-2-2013
20443018@unknown@formal@none@1@S@ABC's hurdle was even higher this year with two teams from the same area.@@@@1@14@@oe@2-2-2013
20443019@unknown@formal@none@1@S@The Series got off to a lukewarm start Oct. 14 with a 16.2% rating; the next night it drew 17.4% of homes.@@@@1@22@@oe@2-2-2013
20443020@unknown@formal@none@1@S@Then came the earthquake and a damaging delay of 11 days.@@@@1@11@@oe@2-2-2013
20443021@unknown@formal@none@1@S@Some people had hoped ABC's ratings would go up because of the intense focus on the event in the aftermath of the earthquake.@@@@1@23@@oe@2-2-2013
20443022@unknown@formal@none@1@S@An analyst's opinion to that effect even sent Capital Cities/ABC shares soaring two weeks ago.@@@@1@15@@oe@2-2-2013
20443023@unknown@formal@none@1@S@But interest instead decreased.@@@@1@4@@oe@2-2-2013
20443024@unknown@formal@none@1@S@The third game, last Friday night, drew a disappointing 17.5 rating.@@@@1@11@@oe@2-2-2013
20444001@unknown@formal@none@1@S@Bargain hunters helped stock prices break a weeklong losing streak while bond prices and the dollar inched higher.@@@@1@18@@oe@2-2-2013
20444002@unknown@formal@none@1@S@The Dow Jones Industrial Average gained 6.76 points to 2603.48 in light trading after losing more than 92 points last week.@@@@1@21@@oe@2-2-2013
20444003@unknown@formal@none@1@S@Bond prices continued to edge higher in anticipation of more news showing a slower economy.@@@@1@15@@oe@2-2-2013
20444004@unknown@formal@none@1@S@Although the dollar rose slightly against most major currencies, the focus in currency markets was on the beleaguered British pound, which gained slightly against the dollar.@@@@1@26@@oe@2-2-2013
20444005@unknown@formal@none@1@S@Trading volume on the New York Stock Exchange dwindled to only 126.6 million shares yesterday as major brokerage firms continued to throw in the towel on program trading.@@@@1@28@@oe@2-2-2013
20444006@unknown@formal@none@1@S@Kidder Peabody became the most recent firm to swear off stock-index arbitrage trading for its own account, and Merrill Lynch late yesterday took the major step of renouncing the trading strategy even for its clients.@@@@1@35@@oe@2-2-2013
20444007@unknown@formal@none@1@S@Yet that didn't eliminate program trading from the market.@@@@1@9@@oe@2-2-2013
20444008@unknown@formal@none@1@S@The Dow industrials shot up 23 points in the opening hour, at least in part because of buy programs generated by stock-index arbitrage, a form of program trading involving futures contracts.@@@@1@31@@oe@2-2-2013
20444009@unknown@formal@none@1@S@But interest waned as the day wore on and investors looked ahead to the release later this week of two important economic reports.@@@@1@23@@oe@2-2-2013
20444010@unknown@formal@none@1@S@The first is Wednesday's survey of purchasing managers, considered a good indicator of how the nation's manufacturing sector fared in October.@@@@1@21@@oe@2-2-2013
20444011@unknown@formal@none@1@S@The other is Friday's measure of October employment, an indicator of the broader economy's health.@@@@1@15@@oe@2-2-2013
20444012@unknown@formal@none@1@S@Both are expected to show continued sluggishness, which would be good for bonds and bad for stocks.@@@@1@17@@oe@2-2-2013
20444013@unknown@formal@none@1@S@In major market activity: Stock prices rose in light trading.@@@@1@10@@oe@2-2-2013
20444014@unknown@formal@none@1@S@But declining issues on the New York Stock Exchange outnumbered gainers 774 to 684, and broader market indexes were virtually unchanged.@@@@1@21@@oe@2-2-2013
20444015@unknown@formal@none@1@S@Bond prices crept higher.@@@@1@4@@oe@2-2-2013
20444016@unknown@formal@none@1@S@The Treasury's benchmark 30-year bond gained about an eighth of a point, or about $1.25 for each $1,000 face amount.@@@@1@20@@oe@2-2-2013
20444017@unknown@formal@none@1@S@The yield on the issue slipped to 7.92%.@@@@1@8@@oe@2-2-2013
20444018@unknown@formal@none@1@S@The dollar gained.@@@@1@3@@oe@2-2-2013
20444019@unknown@formal@none@1@S@In late New York trading the dollar was quoted at 1.8340 marks and 141.90 yen, compared with 1.8300 marks and 141.65 yen Friday.@@@@1@23@@oe@2-2-2013
20444020@unknown@formal@none@1@S@The British pound, pressured by last week's resignations of key Thatcher administration officials, nevertheless rose Monday to $1.5820 from Friday's $1.5795.@@@@1@21@@oe@2-2-2013
20445001@unknown@formal@none@1@S@If Japanese companies are so efficient, why does Kawasaki-Rikuso Transportation Co. sometimes need a week just to tell its clients how soon it can ship goods from here to Osaka?@@@@1@30@@oe@2-2-2013
20445002@unknown@formal@none@1@S@Why, until last spring, did the Long-Term Credit Bank of Japan sometimes take several days to correct typographical errors in its paper work for international transactions?@@@@1@26@@oe@2-2-2013
20445003@unknown@formal@none@1@S@Because the companies have lacked office computers considered standard equipment in the U.S. and Western Europe, Japanese corporations' reputation as hi-tech powerhouses is only half right.@@@@1@26@@oe@2-2-2013
20445004@unknown@formal@none@1@S@Their factories may look like sets for a Spielberg movie, but their offices, with rows of clerks hunched over ledgers and abacuses, are more like scenes from a Dickens novel.@@@@1@30@@oe@2-2-2013
20445005@unknown@formal@none@1@S@Now, the personal-computer revolution is finally reaching Japan.@@@@1@8@@oe@2-2-2013
20445006@unknown@formal@none@1@S@Kawasaki-Rikuso, a freight company, set up its own software subsidiary this year and is spending nearly a year's profit to more than double the computer terminals at its main office.@@@@1@30@@oe@2-2-2013
20445007@unknown@formal@none@1@S@In April, the Long-Term Credit Bank linked its computers in Tokyo with its three American offices.@@@@1@16@@oe@2-2-2013
20445008@unknown@formal@none@1@S@Overall, PC sales in Japan in the first half of 1989 were 34% higher than in the year-earlier period.@@@@1@19@@oe@2-2-2013
20445009@unknown@formal@none@1@S@Combined PC and work-station use in Japan will jump as much as 25% annually over the next five years, according to some analysts, compared with about 10% in the U.S.@@@@1@30@@oe@2-2-2013
20445010@unknown@formal@none@1@S@And with a labor shortage and intense competitive pressure to improve efficiency, more and more Japanese companies are concluding that they have no choice.@@@@1@24@@oe@2-2-2013
20445011@unknown@formal@none@1@S@"We have too many people in our home offices," says Yoshio Hatakeyama, the president of the Japan Management Association.@@@@1@19@@oe@2-2-2013
20445012@unknown@formal@none@1@S@"Productivity in Japanese offices is relatively low."@@@@1@7@@oe@2-2-2013
20445013@unknown@formal@none@1@S@With Japanese companies in a wide range of industries -- from heavy industry to securities firms -- increasing their market share world-wide, the prospect of an even more efficient Japanese economic army may rattle foreigners.@@@@1@35@@oe@2-2-2013
20445014@unknown@formal@none@1@S@But it also offers opportunities; Americans are well poised to supply the weapons.@@@@1@13@@oe@2-2-2013
20445015@unknown@formal@none@1@S@Japan may be a tough market for outsiders to penetrate, and the U.S. is hopelessly behind Japan in certain technologies.@@@@1@20@@oe@2-2-2013
20445016@unknown@formal@none@1@S@But for now, at least, Americans are far better at making PCs and the software that runs them.@@@@1@18@@oe@2-2-2013
20445017@unknown@formal@none@1@S@After years of talking about selling in Japan, more and more U.S. companies are seriously pouring in.@@@@1@17@@oe@2-2-2013
20445018@unknown@formal@none@1@S@Apple Computer Inc. has doubled its staff here over the past year.@@@@1@12@@oe@2-2-2013
20445019@unknown@formal@none@1@S@Lotus Development Corp. has slashed the lag between U.S. and Japan product introductions to six months from three years.@@@@1@19@@oe@2-2-2013
20445020@unknown@formal@none@1@S@Ungermann-Bass Inc. has a bigger share of the computer-network market in Japan than at home.@@@@1@15@@oe@2-2-2013
20445021@unknown@formal@none@1@S@But the Japanese have to go a long way to catch up.@@@@1@12@@oe@2-2-2013
20445022@unknown@formal@none@1@S@Typical is one office of the Ministry of International Trade and Industry's Machinery and Information Industries Bureau -- the main bureaucracy overseeing the computer industry.@@@@1@25@@oe@2-2-2013
20445023@unknown@formal@none@1@S@"Personal Computer" yearbooks are lined up on nearly every desk, and dog-eared copies of Nikkei Computer crowd magazine racks.@@@@1@19@@oe@2-2-2013
20445024@unknown@formal@none@1@S@But amid the two dozen bureaucrats and secretaries sits only one real-life PC.@@@@1@13@@oe@2-2-2013
20445025@unknown@formal@none@1@S@While American PC sales have averaged roughly 25% annual growth since 1984 and West European sales a whopping 40%, Japanese sales were flat for most of that time.@@@@1@28@@oe@2-2-2013
20445026@unknown@formal@none@1@S@Japanese office workers use PCs at half the rate of their European counterparts and one-third that of the Americans.@@@@1@19@@oe@2-2-2013
20445027@unknown@formal@none@1@S@Moreover, Japanese offices tend to use computers less efficiently than American offices do.@@@@1@13@@oe@2-2-2013
20445028@unknown@formal@none@1@S@In the U.S., PCs commonly perform many tasks and plug into a broad network.@@@@1@14@@oe@2-2-2013
20445029@unknown@formal@none@1@S@In Japan, many desktop terminals are limited to one function and can't communicate with other machines.@@@@1@16@@oe@2-2-2013
20445030@unknown@formal@none@1@S@The market planning and sales promotion office of Nomura Securities Co., for example, has more than 30 computers for its 60 workers, a respectable ratio.@@@@1@25@@oe@2-2-2013
20445031@unknown@formal@none@1@S@But the machines aren't on employees' desks; they ring the perimeter of the large office.@@@@1@15@@oe@2-2-2013
20445032@unknown@formal@none@1@S@Some machines make charts for presentations.@@@@1@6@@oe@2-2-2013
20445033@unknown@formal@none@1@S@Others analyze the data.@@@@1@4@@oe@2-2-2013
20445034@unknown@formal@none@1@S@To transfer information from one to the other, employees make printouts and enter the data manually.@@@@1@16@@oe@2-2-2013
20445035@unknown@formal@none@1@S@To transmit charts to branch offices, they use a fax machine.@@@@1@11@@oe@2-2-2013
20445036@unknown@formal@none@1@S@Meanwhile, a woman sitting next to a new Fujitsu terminal writes stock-market information on a chart with a pencil and adds it up with a hand calculator.@@@@1@27@@oe@2-2-2013
20445037@unknown@formal@none@1@S@In an efficient setup, the same PC could perform all those tasks.@@@@1@12@@oe@2-2-2013
20445038@unknown@formal@none@1@S@In the U.S., more than half the PC software sold is either for spreadsheets or for database analysis, according to Lotus.@@@@1@21@@oe@2-2-2013
20445039@unknown@formal@none@1@S@In Japan, those functions account for only about a third of the software market.@@@@1@14@@oe@2-2-2013
20445040@unknown@formal@none@1@S@Machines dedicated solely to word processing, which have all but disappeared in the U.S., are still more common in Japan than PCs.@@@@1@22@@oe@2-2-2013
20445041@unknown@formal@none@1@S@In the U.S., one-fifth of the office PCs are hooked up to some sort of network.@@@@1@16@@oe@2-2-2013
20445042@unknown@formal@none@1@S@In Japan, about 1% are linked.@@@@1@6@@oe@2-2-2013
20445043@unknown@formal@none@1@S@"Computers here are used for data gathering," says Roger J. Boisvert, who manages the integrated-technologies group in McKinsey & Co.'s Tokyo office.@@@@1@22@@oe@2-2-2013
20445044@unknown@formal@none@1@S@Some Japanese operations, such as securities-trading rooms, may be ahead of their American counterparts, he says, but "basically, there's little analysis done on computers in Japan."@@@@1@26@@oe@2-2-2013
20445045@unknown@formal@none@1@S@Of course, simply buying computers doesn't always solve problems, and many American companies have erred by purchasing technology they didn't understand.@@@@1@21@@oe@2-2-2013
20445046@unknown@formal@none@1@S@But healthy skepticism is only a small reason for Japan's PC lag.@@@@1@12@@oe@2-2-2013
20445047@unknown@formal@none@1@S@Various cultural and economic forces have suppressed demand.@@@@1@8@@oe@2-2-2013
20445048@unknown@formal@none@1@S@Because the Japanese "alphabet" is so huge, Japan has no history of typewriter use, and so "keyboard allergy," especially among older workers, remains a common affliction.@@@@1@26@@oe@2-2-2013
20445049@unknown@formal@none@1@S@"I have no experience before with such sophisticated machinery," says Matsuo Toshimitsu, a 66-year-old executive vice president of Japan Air Lines, explaining his reluctance before accepting a terminal in his office this summer.@@@@1@33@@oe@2-2-2013
20445050@unknown@formal@none@1@S@While most American employees have their own private space, Japanese "salarymen" usually share large, common tables and rely heavily on old-fashioned personal contact.@@@@1@23@@oe@2-2-2013
20445051@unknown@formal@none@1@S@Top Japanese executives often make decisions based on consensus and personal relationships rather than complex financial projections and fancy presentations.@@@@1@20@@oe@2-2-2013
20445052@unknown@formal@none@1@S@And Japan's management system makes it hard to impose a single, integrated computer system corporatewide.@@@@1@15@@oe@2-2-2013
20445053@unknown@formal@none@1@S@Besides, a computer processing the Japanese language needs a huge memory and much processing capability, while the screen and printer need far better definition to depict accurately the intricate symbols.@@@@1@30@@oe@2-2-2013
20445054@unknown@formal@none@1@S@Until recently, much of the necessary technology has been unavailable or at least unaffordable.@@@@1@14@@oe@2-2-2013
20445055@unknown@formal@none@1@S@Some analysts estimate the average PC costs about 50% more in Japan than the U.S.@@@@1@15@@oe@2-2-2013
20445056@unknown@formal@none@1@S@But the complex language isn't the only reason.@@@@1@8@@oe@2-2-2013
20445057@unknown@formal@none@1@S@For the past decade, NEC Corp. has owned more than half the Japanese PC market and ruled it with near-monopoly power.@@@@1@21@@oe@2-2-2013
20445058@unknown@formal@none@1@S@With little competition, the computer industry here is inefficient.@@@@1@9@@oe@2-2-2013
20445059@unknown@formal@none@1@S@The U.S. market, too, is dominated by a giant, International Business Machines Corp.@@@@1@13@@oe@2-2-2013
20445060@unknown@formal@none@1@S@But early on, IBM offered its basic design to anybody wanting to copy it.@@@@1@14@@oe@2-2-2013
20445061@unknown@formal@none@1@S@Dozens of small companies did, swiftly establishing a standard operating system.@@@@1@11@@oe@2-2-2013
20445062@unknown@formal@none@1@S@That spurs competition and growth, allows users to change and mix brands easily, and increases software firms' incentive to write packages because they can be sold to users of virtually any computer.@@@@1@32@@oe@2-2-2013
20445063@unknown@formal@none@1@S@If a record industry lacked a common standard, Sony CD owners could listen to a Sony version of Madonna's "Like a Prayer" but not one made for a Panasonic player.@@@@1@30@@oe@2-2-2013
20445064@unknown@formal@none@1@S@That is the state of Japan's computer industry.@@@@1@8@@oe@2-2-2013
20445065@unknown@formal@none@1@S@NEC won't release its code, and every one of the dozen or so makers has its own proprietary operating system -- all incompatible with each other.@@@@1@26@@oe@2-2-2013
20445066@unknown@formal@none@1@S@IBM established its standard to try to stop falling behind upstart Apple Computer, but NEC was ahead from the start and didn't need to invite in competitive allies.@@@@1@28@@oe@2-2-2013
20445067@unknown@formal@none@1@S@Meanwhile, the big players haven't tried to copy the NEC standard.@@@@1@11@@oe@2-2-2013
20445068@unknown@formal@none@1@S@Corporate pride as well as the close ties common among Japanese manufacturers help explain why.@@@@1@15@@oe@2-2-2013
20445069@unknown@formal@none@1@S@Most rivals "have a working relationship with NEC, often through cross-licensing of technology," the Japan Personal Computer Software Association noted recently.@@@@1@21@@oe@2-2-2013
20445070@unknown@formal@none@1@S@"They hesitate to market NEC-compatible machines; NEC disapproves of such machines, and marketing one would jeopardize their relationship."@@@@1@18@@oe@2-2-2013
20445071@unknown@formal@none@1@S@The result, according to many analysts, is higher prices and less innovation.@@@@1@12@@oe@2-2-2013
20445072@unknown@formal@none@1@S@While tens of thousands of software packages using the IBM standard are available in the U.S., they say only about 8,000 are written for NEC.@@@@1@25@@oe@2-2-2013
20445073@unknown@formal@none@1@S@A year ago, Japan's Fair Trade Commission warned NEC about possible violations of anti-monopoly laws for discouraging retailers from discounting.@@@@1@20@@oe@2-2-2013
20445074@unknown@formal@none@1@S@In Japan, "software is four to five years behind the U.S. because hardware is four to five years behind, because NEC is enjoying a monopoly," complains Kazuhiko Nishi, the president of Ascii Corp., one of Japan's leading PC-magazine publishing and software companies.@@@@1@42@@oe@2-2-2013
20445075@unknown@formal@none@1@S@"There are no price wars, no competition."@@@@1@7@@oe@2-2-2013
20445076@unknown@formal@none@1@S@An NEC spokeswoman responds that prices are higher in Japan because customers put a greater emphasis on quality and service than they do in the U.S.@@@@1@26@@oe@2-2-2013
20445077@unknown@formal@none@1@S@She adds that some technological advances trail those in the U.S. because the Japanese still import basic operating systems from American companies.@@@@1@22@@oe@2-2-2013
20445078@unknown@formal@none@1@S@But the market is changing.@@@@1@5@@oe@2-2-2013
20445079@unknown@formal@none@1@S@The government is funding several projects to push PC use.@@@@1@10@@oe@2-2-2013
20445080@unknown@formal@none@1@S@Over the next three years, public schools will get 1.5 million PCs, a 15-fold increase from current levels.@@@@1@18@@oe@2-2-2013
20445081@unknown@formal@none@1@S@In the private sector, practically every major company is setting explicit goals to increase employees' exposure to computers.@@@@1@18@@oe@2-2-2013
20445082@unknown@formal@none@1@S@Toyota Motor Corp.'s sales offices in Japan have one-tenth the computers per employee that its own U.S. offices do; over the next five years, it is aiming for rough parity.@@@@1@30@@oe@2-2-2013
20445083@unknown@formal@none@1@S@Within a year, Kao Corp., a major cosmetics company, plans to eliminate 1,000 clerical jobs by putting on a central computer network some work, such as credit reports, currently performed in 22 separate offices.@@@@1@34@@oe@2-2-2013
20445084@unknown@formal@none@1@S@By increasing the number of PCs it uses from 66 to 1,000, Omron Tateishi Electronics Co., of Kyoto, hopes not only to make certain tasks easier but also to transform the way the company is run.@@@@1@36@@oe@2-2-2013
20445085@unknown@formal@none@1@S@"Managers have long been those who supervise their subordinates so orders would be properly acted on," a spokesman says.@@@@1@19@@oe@2-2-2013
20445086@unknown@formal@none@1@S@"But new managers will have to be creators and innovators . . . and for that purpose it is necessary to create an environment where information from both inside and outside the company can be reached easily, and also shared."@@@@1@40@@oe@2-2-2013
20445087@unknown@formal@none@1@S@Meanwhile, more computer makers now are competing for the new business.@@@@1@11@@oe@2-2-2013
20445088@unknown@formal@none@1@S@Seiko Epson Corp., a newcomer to the industry, fought off a legal challenge and started selling NEC clones last year.@@@@1@20@@oe@2-2-2013
20445089@unknown@formal@none@1@S@It has won about 15% of the retail PC market.@@@@1@10@@oe@2-2-2013
20445090@unknown@formal@none@1@S@Sony Corp., which temporarily dropped out of the PC business three years ago, started selling its work station in 1987 and quickly became the leading Japanese company in that market.@@@@1@30@@oe@2-2-2013
20445091@unknown@formal@none@1@S@In a country where elbow room is scarce, laptop machines will take a large portion of the industry's future growth.@@@@1@20@@oe@2-2-2013
20445092@unknown@formal@none@1@S@Toshiba Corp. busted open that sector this summer with a notebook-sized machine that retails for less than 200,000 yen (under $1,500) -- one of the smallest, cheapest PCs available in the country.@@@@1@32@@oe@2-2-2013
20445093@unknown@formal@none@1@S@Fujitsu Ltd. is lavishing the most expensive promotion campaign in its history -- including a 100,000-guest bash at Tokyo Dome -- for its sophisticated sound/graphics FM Towns machine, which it advertises for everything from balancing the family checkbook to practicing karaoke, bar singing.@@@@1@43@@oe@2-2-2013
20445094@unknown@formal@none@1@S@Many of the companies are even dropping their traditional independence and trying to band together to create some sort of standard.@@@@1@21@@oe@2-2-2013
20445095@unknown@formal@none@1@S@Two years ago, most of the smaller makers joined under the Microsoft Corp. umbrella to adopt a version of the American IBM AT standard.@@@@1@24@@oe@2-2-2013
20445096@unknown@formal@none@1@S@That hasn't generated much sales, but this summer Microsoft rallied all the major NEC competitors to make their new machines compatible with the IBM OS/2 standard.@@@@1@26@@oe@2-2-2013
20445097@unknown@formal@none@1@S@A healthy, coherent Japanese market could also make it far easier for Japanese companies to sell overseas, where their share is still minimal.@@@@1@23@@oe@2-2-2013
20445098@unknown@formal@none@1@S@But it could also help American companies, which also are starting to try to open the market.@@@@1@17@@oe@2-2-2013
20445099@unknown@formal@none@1@S@As with many other goods, the American share of Japan's PC market is far below that in the rest of the world.@@@@1@22@@oe@2-2-2013
20445100@unknown@formal@none@1@S@U.S. makers have under 10% share, compared with half the market in Europe and 80% at home.@@@@1@17@@oe@2-2-2013
20445101@unknown@formal@none@1@S@Though no formal trade barriers exist, the Japanese computer industry is difficult for outsiders to enter.@@@@1@16@@oe@2-2-2013
20445102@unknown@formal@none@1@S@"If it were an open market, we would have been in in 1983 or 1984," says Eckhard Pfeiffer, who heads Compaq Computer Corp.'s European and international operations.@@@@1@27@@oe@2-2-2013
20445103@unknown@formal@none@1@S@His company, without any major effort, sells more machines in China than in Japan.@@@@1@14@@oe@2-2-2013
20445104@unknown@formal@none@1@S@Although it has opened a New Zealand subsidiary, it is still only "studying" Japan, the only nation that hasn't adopted IBM-oriented specifications.@@@@1@22@@oe@2-2-2013
20445105@unknown@formal@none@1@S@And because general retail centers such as ComputerLand have little presence in Japan, sales remain in the iron grip of established computer makers.@@@@1@23@@oe@2-2-2013
20445106@unknown@formal@none@1@S@But the Americans are also to blame.@@@@1@7@@oe@2-2-2013
20445107@unknown@formal@none@1@S@They long made little effort here.@@@@1@6@@oe@2-2-2013
20445108@unknown@formal@none@1@S@IBM, though long a leader in the Japanese mainframe business, didn't introduce its first PC in Japan until five years after NEC did, and that wasn't compatible even with the U.S. IBM standard.@@@@1@33@@oe@2-2-2013
20445109@unknown@formal@none@1@S@Apple didn't introduce a kanji machine -- one that handles the Chinese characters of written Japanese -- until three years after entering the market.@@@@1@24@@oe@2-2-2013
20445110@unknown@formal@none@1@S@Critics also say American companies charge too much.@@@@1@8@@oe@2-2-2013
20445111@unknown@formal@none@1@S@Japan's FTC says it is investigating Apple for allegedly discouraging retailers from discounting.@@@@1@13@@oe@2-2-2013
20445112@unknown@formal@none@1@S@But the U.S. companies are redoubling their efforts.@@@@1@8@@oe@2-2-2013
20445113@unknown@formal@none@1@S@Apple recently hired its first Japanese president, luring away an official of Toshiba's European operations, as well as a whole Japanese top-management team.@@@@1@23@@oe@2-2-2013
20445114@unknown@formal@none@1@S@Earlier this year, it introduced a much more powerful kanji operating system and a kanji laser printer.@@@@1@17@@oe@2-2-2013
20445115@unknown@formal@none@1@S@IBM just last year started selling its first machine that could run in both Japanese and English and that substantially enhances compatibility with its American products.@@@@1@26@@oe@2-2-2013
20445116@unknown@formal@none@1@S@"It may take five years to break even in Japan," says John A. Siniscal, who runs the Asia-Pacific office for McCormack & Dodge, a U.S. software company.@@@@1@27@@oe@2-2-2013
20445117@unknown@formal@none@1@S@"But it's an enormous business opportunity.@@@@1@6@@oe@2-2-2013
20446001@unknown@formal@none@1@S@From a reading of the somewhat scant English-language medical literature on RU-486, the French abortion pill emerges as one of the creepiest concoctions around.@@@@1@24@@oe@2-2-2013
20446002@unknown@formal@none@1@S@This is not only because it kills the unborn, a job at which it actually is not outstandingly efficient, zapping only 50% to 85% of them depending on which study you read (prostaglandin, taken in conjunction with the pill, boosts the rate to 95%).@@@@1@44@@oe@2-2-2013
20446003@unknown@formal@none@1@S@By contrast, surgical abortion is 99% effective.@@@@1@7@@oe@2-2-2013
20446004@unknown@formal@none@1@S@Abortion via the pill is far more of an ordeal than conventional surgical abortion.@@@@1@14@@oe@2-2-2013
20446005@unknown@formal@none@1@S@It is time-consuming (the abortion part alone lasts three days, and the clinical part comprises a week's worth of visits), bloody (one woman in a Swedish trial required a transfusion, although for most it resembles a menstrual period, with bleeding lasting an average of 10 days), and painful (many women require analgesic shots to ease them through).@@@@1@57@@oe@2-2-2013
20446006@unknown@formal@none@1@S@Nausea and vomiting are other common side effects.@@@@1@8@@oe@2-2-2013
20446007@unknown@formal@none@1@S@Timing is of the essence with RU-486.@@@@1@7@@oe@2-2-2013
20446008@unknown@formal@none@1@S@It is most effective taken about a week after a woman misses her menstrual period up through the seventh week of pregnancy, when it is markedly less effective.@@@@1@28@@oe@2-2-2013
20446009@unknown@formal@none@1@S@That is typically about a three-week window.@@@@1@7@@oe@2-2-2013
20446010@unknown@formal@none@1@S@So far, all the studies have concluded that RU-486 is "safe."@@@@1@11@@oe@2-2-2013
20446011@unknown@formal@none@1@S@But "safe," in the definition of Marie Bass of the Reproductive Health Technologies Project, means "there's been no evidence so far of mortality."@@@@1@23@@oe@2-2-2013
20446012@unknown@formal@none@1@S@No one has researched the long-term effects of RU-486 on a woman's health or fertility.@@@@1@15@@oe@2-2-2013
20446013@unknown@formal@none@1@S@The drug seems to suppress ovulation for three to seven months after it is taken.@@@@1@15@@oe@2-2-2013
20446014@unknown@formal@none@1@S@Some women clearly have no trouble eventually conceiving again: The studies have reported repeaters in their programs.@@@@1@17@@oe@2-2-2013
20446015@unknown@formal@none@1@S@But there are no scientific data on this question.@@@@1@9@@oe@2-2-2013
20446016@unknown@formal@none@1@S@Rather ominously, rabbit studies reveal that RU-486 can cause birth defects, Lancet, the British medical journal, reported in 1987.@@@@1@19@@oe@2-2-2013
20446017@unknown@formal@none@1@S@However, Dr. Etienne-Emile Baulieu, the French physician who invented RU-486, wrote in a Science magazine article last month that the rabbit-test results could not be duplicated in rats and monkeys.@@@@1@30@@oe@2-2-2013
20446018@unknown@formal@none@1@S@The drug has a three-dimensional structure similar to that of DES, the anti-miscarriage drug that has been linked to cervical and vaginal cancer in some of the daughters of the women who took it.@@@@1@34@@oe@2-2-2013
20446019@unknown@formal@none@1@S@All the published studies recommend that women on whom the drug proves ineffective not carry the pregnancy to term but undergo a surgical abortion.@@@@1@24@@oe@2-2-2013
20446020@unknown@formal@none@1@S@A risk of birth defects, a sure source of lawsuits, is one reason the U.S. pharmaceutical industry is steering clear of RU-486.@@@@1@22@@oe@2-2-2013
20446021@unknown@formal@none@1@S@One might well ask: Why bother with this drug at all?@@@@1@11@@oe@2-2-2013
20446022@unknown@formal@none@1@S@Some abortion advocates have been asking themselves this very question.@@@@1@10@@oe@2-2-2013
20446023@unknown@formal@none@1@S@RU-486 "probably represents a technical advance in an area where none is needed, or at least not very much," said Phillip Stubblefield, president of the National Abortion Federation, at a reproductive health conference in 1986.@@@@1@35@@oe@2-2-2013
20446024@unknown@formal@none@1@S@Many physicians have expressed concern over the heavy bleeding, which occurs even if the drug fails to induce an abortion.@@@@1@20@@oe@2-2-2013
20446025@unknown@formal@none@1@S@It typically takes from eight to 10 years to obtain the Food and Drug Administration's approval for a new drug, and the cost of testing and marketing a new drug can range from $30 million to $70 million.@@@@1@38@@oe@2-2-2013
20446026@unknown@formal@none@1@S@The Health and Human Services Department currently forbids the National Institutes of Health from funding abortion research as part of its $8 million contraceptive program.@@@@1@25@@oe@2-2-2013
20446027@unknown@formal@none@1@S@But the Population Council, a 37-year-old, $20 million nonprofit organization that has the backing of the Rockefeller and Mellon foundations and currently subsidizes most U.S. research on contraceptives, has recently been paying for U.S. studies of RU-486 on a license from its French developer, Roussel-Uclaf, a joint subsidiary of the German pharmaceutical company Hoechst and the French government.@@@@1@58@@oe@2-2-2013
20446028@unknown@formal@none@1@S@In the year since the pill went on the French market, the National Organization for Women and its offshoot, former NOW President Eleanor Smeal's Fund for a Feminist Majority, have been trying to browbeat the U.S. pharmaceutical industry into getting involved.@@@@1@41@@oe@2-2-2013
20446029@unknown@formal@none@1@S@(Its scare-tactic prediction: the pill "will be available in the U.S., either legally or illegally, in no more than 2-5 years.")@@@@1@21@@oe@2-2-2013
20446030@unknown@formal@none@1@S@Following the feminist and population-control lead has been a generally bovine press.@@@@1@12@@oe@2-2-2013
20446031@unknown@formal@none@1@S@A June 1988 article in Mother Jones magazine is typical of the general level of media ignorance.@@@@1@17@@oe@2-2-2013
20446032@unknown@formal@none@1@S@"For a woman whose period is late, using RU-486 means no waiting, no walking past picket lines at abortion clinics, and no feet up in stirrups for surgery," burbles health writer Laura Fraser.@@@@1@33@@oe@2-2-2013
20446033@unknown@formal@none@1@S@"It also means she will never have to know whether she had actually been pregnant."@@@@1@15@@oe@2-2-2013
20446034@unknown@formal@none@1@S@Wrong on all counts, Miss Fraser.@@@@1@6@@oe@2-2-2013
20446035@unknown@formal@none@1@S@RU-486 is being administered in France only under strict supervision in the presence of a doctor.@@@@1@16@@oe@2-2-2013
20446036@unknown@formal@none@1@S@(Roussel reportedly has every pill marked and accounted for to make sure none slips into the black market.)@@@@1@18@@oe@2-2-2013
20446037@unknown@formal@none@1@S@Thus, a woman who used RU-486 to have an abortion would have to make three trips to the clinic past those picket lines; an initial visit for medical screening (anemics and those with previous pregnancy problems are eliminated) and to take the pill, a second trip 48 hours later for the prostaglandin, administered either via injection or vaginal suppository, and a third trip a week later to make sure she has completely aborted.@@@@1@73@@oe@2-2-2013
20446038@unknown@formal@none@1@S@Furthermore, because timing is so critical with RU-486, she will learn, via a pelvic examination and ultrasound, not only that she is pregnant, but just how pregnant she is.@@@@1@29@@oe@2-2-2013
20446039@unknown@formal@none@1@S@No doctor who fears malpractice liability would likely expose a non-pregnant patient to the risk of hemorrhaging.@@@@1@17@@oe@2-2-2013
20446040@unknown@formal@none@1@S@Many women may even see the dead embryo they have expelled, a sight the surgical-abortion industry typically spares them.@@@@1@19@@oe@2-2-2013
20446041@unknown@formal@none@1@S@At seven weeks, an embryo is about three-fourths of an inch long and recognizably human.@@@@1@15@@oe@2-2-2013
20446042@unknown@formal@none@1@S@At the behest of pro-choice members of Congress, a four-year reauthorization bill for Title X federal family-planning assistance now contains a $10 million grant for "development, evaluation and bringing to the marketplace of new improved contraceptive devices, drugs and methods."@@@@1@40@@oe@2-2-2013
20446043@unknown@formal@none@1@S@If this passes -- a Senate version has already been cleared for a floor vote that is likely early next year -- it would put the federal government into the contraceptive marketing business for the first time.@@@@1@37@@oe@2-2-2013
20446044@unknown@formal@none@1@S@It also could put the government into the RU-486 business, which would please feminists dismayed at what they view as pusillanimity in the private-sector drug industry.@@@@1@26@@oe@2-2-2013
20446045@unknown@formal@none@1@S@We do not know whether RU-486 will be as disastrous as some of the earlier fertility-control methods released to unblinking, uncritical cheers from educated people who should have known better.@@@@1@30@@oe@2-2-2013
20446046@unknown@formal@none@1@S@(Remember the Dalkon Shield and the early birth-control pills?)@@@@1@9@@oe@2-2-2013
20446047@unknown@formal@none@1@S@We will not know until a first generation of female guinea pigs -- all of whom will be more than happy to volunteer for the job -- has put the abortion pill through the clinical test of time.@@@@1@38@@oe@2-2-2013
20446048@unknown@formal@none@1@S@Mrs. Allen is a senior editor of Insight magazine.@@@@1@9@@oe@2-2-2013
20446049@unknown@formal@none@1@S@This article is adapted from one in the October American Spectator.@@@@1@11@@oe@2-2-2013
20447001@unknown@formal@none@1@S@On June 30, a major part of our trade deficit went poof!@@@@1@12@@oe@2-2-2013
20447002@unknown@formal@none@1@S@No figure juggling; no witchcraft; just vastly improved recording of some of our exports.@@@@1@14@@oe@2-2-2013
20447003@unknown@formal@none@1@S@The result?@@@@1@2@@oe@2-2-2013
20447004@unknown@formal@none@1@S@The Commerce Department found that U.S. exports in 1988, net of imports, were understated by $20.9 billion a year and understated at the annualized rate of $25.4 billion in the first quarter of 1989.@@@@1@34@@oe@2-2-2013
20447005@unknown@formal@none@1@S@More than half of the "newly found" net exports were from just a few service-sector categories.@@@@1@16@@oe@2-2-2013
20447006@unknown@formal@none@1@S@Some of the biggest service-industry exporters -- American financial-service companies, for example -- have yet to be fully included in our export statistics.@@@@1@23@@oe@2-2-2013
20447007@unknown@formal@none@1@S@Nearly 10 years ago, representatives of service-sector companies worked out a plan with the Commerce Department to improve the data on service-sector exports.@@@@1@23@@oe@2-2-2013
20447008@unknown@formal@none@1@S@Both groups believed that tens of billions of dollars of service exports -- such as inbound tourism; legal, accounting and other professional services furnished to foreigners; financial, engineering and construction services; and the like -- were not being counted as exports.@@@@1@41@@oe@2-2-2013
20447009@unknown@formal@none@1@S@The monthly "trade deficit" figure is limited to traditional merchandise trade: manufactured goods and raw materials.@@@@1@16@@oe@2-2-2013
20447010@unknown@formal@none@1@S@In the quarterly balance-of-payments report, those merchandise trade figures are merged with statistics on exports and imports of services, as well as returns on investments abroad by Americans and returns on foreign investments in the U.S.@@@@1@36@@oe@2-2-2013
20447011@unknown@formal@none@1@S@Over time, through benchmark surveys, the corrected data on service exports and imports have been gathered.@@@@1@16@@oe@2-2-2013
20447012@unknown@formal@none@1@S@The first three major areas of the service sector to be revamped were expenditures by foreign students in the U.S. (net after expenditures by Americans studying abroad), some exports by professional firms (a law firm billing a German client for services rendered in watching legislation in Washington is as much an export as shipment of an American jet engine), and improved data from travel and tourism.@@@@1@66@@oe@2-2-2013
20447013@unknown@formal@none@1@S@In just these three areas, the Commerce Department found $23 billion more exports than previously reported and $11.6 billion more imports, with the net result that the U.S. service surplus in 1988 increased by $11.3 billion, to $19 billion.@@@@1@39@@oe@2-2-2013
20447014@unknown@formal@none@1@S@Combined with recalculations and revisions in other trade areas, the value of U.S. net exports that had not previously been recorded was about $20 billion a year.@@@@1@27@@oe@2-2-2013
20447015@unknown@formal@none@1@S@That means that the U.S. trade deficit was running closer to $75 billion than to $95 billion in 1988, and $55 billion (annualized) rather than $80 billion in the first quarter of 1989.@@@@1@33@@oe@2-2-2013
20447016@unknown@formal@none@1@S@These revised figures also may explain some of the recent strength of the dollar.@@@@1@14@@oe@2-2-2013
20447017@unknown@formal@none@1@S@The materially smaller trade deficit may have been already discounted in the market.@@@@1@13@@oe@2-2-2013
20447018@unknown@formal@none@1@S@What does this mean for trade policy?@@@@1@7@@oe@2-2-2013
20447019@unknown@formal@none@1@S@Too early to tell, but a trade deficit that is significantly smaller than we imagined does suggest a review of our trade posture.@@@@1@23@@oe@2-2-2013
20447020@unknown@formal@none@1@S@It does not relieve the need for our market-opening efforts for both goods and services, but it does suggest that it is our exports of services, and not just borrowing, that is financing our imports of goods.@@@@1@37@@oe@2-2-2013
20447021@unknown@formal@none@1@S@Mr. Freeman is an executive vice president of American Express.@@@@1@10@@oe@2-2-2013
20448001@unknown@formal@none@1@S@The collapse of a $6.79 billion labor-management buy-out of United Airlines parent UAL Corp. may not stop some of Wall Street's top talent from collecting up to $53.7 million in fees.@@@@1@31@@oe@2-2-2013
20448002@unknown@formal@none@1@S@According to one person familiar with the airline, the buy-out group -- led by United's pilots union and UAL Chairman Stephen Wolf -- has begun billing UAL for fees and expenses it owes to investment bankers, law firms and banks.@@@@1@40@@oe@2-2-2013
20448003@unknown@formal@none@1@S@The tab even covers $8 million in commitment fees owed to Citicorp and Chase Manhattan Corp., even though their failure to obtain $7.2 billion in bank loans for the buy-out was the main reason for its collapse.@@@@1@37@@oe@2-2-2013
20448004@unknown@formal@none@1@S@Under a merger agreement reached Sept. 14, the UAL board agreed to reimburse certain of the buy-out group's expenses out of company funds even if the transaction wasn't completed, provided the group didn't breach the agreement.@@@@1@36@@oe@2-2-2013
20448005@unknown@formal@none@1@S@The failure to obtain financing doesn't by itself constitute a breach.@@@@1@11@@oe@2-2-2013
20448006@unknown@formal@none@1@S@The merger agreement says the buy-out group is entitled to be repaid $26.7 million in fees for its investment bankers, Lazard Freres & Co. and Salomon Brothers Inc., and its law firm, Paul Weiss Rifkind Wharton & Garrison.@@@@1@38@@oe@2-2-2013
20448007@unknown@formal@none@1@S@The buy-out group is also entitled to $16 million to repay a fund created by the pilots union for an employee stock ownership plan.@@@@1@24@@oe@2-2-2013
20448008@unknown@formal@none@1@S@In addition to the $8 million for Citicorp and Chase, Salomon Brothers is also owed $3 million for promising to make a $200 million bridge loan.@@@@1@26@@oe@2-2-2013
20448009@unknown@formal@none@1@S@A spokesman for the buy-out group wasn't immediately available for comment.@@@@1@11@@oe@2-2-2013
20448010@unknown@formal@none@1@S@Separately, UAL stock rose $4 a share to $175 in composite trading on the New York Stock Exchange on reports that Los Angeles investor Marvin Davis has asked United Airlines unions if they're interested in cooperating with Mr. Davis in a new bid for UAL.@@@@1@45@@oe@2-2-2013
20448011@unknown@formal@none@1@S@But neither the pilots nor the machinists appear interested, and Mr. Davis is barred from making a new bid under terms of an agreement he made with UAL in September unless UAL accepts an offer below $300 a share.@@@@1@39@@oe@2-2-2013
20449001@unknown@formal@none@1@S@Wall Street continued to buckle under the public outcry against computer-driven program trading.@@@@1@13@@oe@2-2-2013
20449002@unknown@formal@none@1@S@Kidder, Peabody & Co., a unit of General Electric Co., announced it would stop doing stock-index arbitrage for its own account, and Merrill Lynch & Co. pulled out of the practice altogether.@@@@1@32@@oe@2-2-2013
20449003@unknown@formal@none@1@S@At the New York Stock Exchange, which has been buffeted by complaints from angry individual investors and the exchange's own listed companies, Chairman John J. Phelan Jr. held an emergency meeting with senior partners of some of the Big Board's 49 stock specialist firms.@@@@1@44@@oe@2-2-2013
20449004@unknown@formal@none@1@S@The specialists, a trader said, were "livid" about Mr. Phelan's recent remarks that sophisticated computer-driven trading strategies are "here to stay."@@@@1@21@@oe@2-2-2013
20449005@unknown@formal@none@1@S@Many investors blame program trading for wild swings in the stock market, including the 190-point plunge in the Dow Jones Industrial Average on Oct. 13.@@@@1@25@@oe@2-2-2013
20449006@unknown@formal@none@1@S@A specialist is an exchange member designated to maintain a fair and orderly market in a specified stock.@@@@1@18@@oe@2-2-2013
20449007@unknown@formal@none@1@S@Mr. Phelan's meeting with the floor brokers comes as he prepares to explain the exchange's position on program trading to key congressional regulators in a closed session tomorrow, according to exchange officials.@@@@1@32@@oe@2-2-2013
20449008@unknown@formal@none@1@S@A Big Board spokesman would only say, "We're working the problem and looking at the issue and meeting with a broad number of customers and constituents to get their views and ideas on the issue."@@@@1@35@@oe@2-2-2013
20449009@unknown@formal@none@1@S@The program-trading outcry was taken to a new level when giant Contel Corp. said it and 20 or more of the Big Board's listed companies are forming an unprecedented alliance to complain about the exchange's role in program trading.@@@@1@39@@oe@2-2-2013
20449010@unknown@formal@none@1@S@The decision by Merrill, the nation's largest securities firm, represents the biggest retreat yet from program trading.@@@@1@17@@oe@2-2-2013
20449011@unknown@formal@none@1@S@Merrill has been the fourth-biggest stock-index arbitrage trader on the Big Board this year, executing an average of 18.1 million shares a month in such trades, or about one million shares a day.@@@@1@33@@oe@2-2-2013
20449012@unknown@formal@none@1@S@Merrill's move is one of the most sweeping program-trading pullbacks of recent days, because the big securities firm will no longer execute stock-index arbitrage trades for customers.@@@@1@27@@oe@2-2-2013
20449013@unknown@formal@none@1@S@Most Wall Street firms, in pulling back, have merely stopped such trading for their own accounts.@@@@1@16@@oe@2-2-2013
20449014@unknown@formal@none@1@S@Merrill has been one of the main firms executing index arbitrage for customers.@@@@1@13@@oe@2-2-2013
20449015@unknown@formal@none@1@S@Merrill also said it is lobbying for significant regulatory controls on program trading, including tough margin -- or down-payment -- requirements and limits on price moves for program-driven financial futures.@@@@1@30@@oe@2-2-2013
20449016@unknown@formal@none@1@S@Merrill, in a statement by Chairman William A. Schreyer and President Daniel P. Tully, said index arbitrage "has been clearly identified in the investing public's mind as a contributing factor to excess market volatility," so Merrill won't execute such trades until "effective controls" are in place.@@@@1@46@@oe@2-2-2013
20449017@unknown@formal@none@1@S@In stock-index arbitrage, traders buy and sell large amounts of stocks with offsetting trades in stock-index futures and options.@@@@1@19@@oe@2-2-2013
20449018@unknown@formal@none@1@S@The idea is to lock in profits from short-term swings in volatile markets.@@@@1@13@@oe@2-2-2013
20449019@unknown@formal@none@1@S@Last Thursday, PaineWebber Group Inc. also said it would cease index arbitrage altogether, but the firm wasn't as big an index arbitrager as Merrill is.@@@@1@25@@oe@2-2-2013
20449020@unknown@formal@none@1@S@Other large firms, including Bear, Stearns & Co. and Morgan Stanley & Co., last week announced a pullback from index arbitrage, but only for the firms' own accounts.@@@@1@28@@oe@2-2-2013
20449021@unknown@formal@none@1@S@Kidder made an abrupt about-face on program trading yesterday, after a special meeting between the firm's president and chief executive officer, Michael Carpenter, and its senior managers.@@@@1@27@@oe@2-2-2013
20449022@unknown@formal@none@1@S@Just a week ago, Mr. Carpenter staunchly defended index arbitrage at Kidder, the most active index-arbitrage trading firm on the stock exchange this year.@@@@1@24@@oe@2-2-2013
20449023@unknown@formal@none@1@S@Index arbitrage, Mr. Carpenter said last week, doesn't have a "negative impact on the market as a whole" and Kidder's customers were "sophisticated" enough to know that.@@@@1@27@@oe@2-2-2013
20449024@unknown@formal@none@1@S@But yesterday, Mr. Carpenter said big institutional investors, which he wouldn't identify, "told us they wouldn't do business with firms" that continued to do index arbitrage for their own accounts.@@@@1@30@@oe@2-2-2013
20449025@unknown@formal@none@1@S@"We were following the trend of our competitors who were under pressure from institutions," he said.@@@@1@16@@oe@2-2-2013
20449026@unknown@formal@none@1@S@Kidder so far this year has executed a monthly average of 37.8 million shares in index-arbitrage trading, and is second only to Morgan Stanley in overall program trading, which includes index arbitrage.@@@@1@32@@oe@2-2-2013
20449027@unknown@formal@none@1@S@Most of Kidder's program trading is for its own account, according to the New York Stock Exchange.@@@@1@17@@oe@2-2-2013
20449028@unknown@formal@none@1@S@Kidder denied that GE's chairman and chief executive, John F. Welch, had anything to do with Kidder's decision.@@@@1@18@@oe@2-2-2013
20449029@unknown@formal@none@1@S@But at least one chief executive said he called Mr. Welch to complain about Kidder's aggressive use of program trading, and other market sources said they understood that Mr. Welch received many phone calls complaining about Kidder's reliance on index arbitrage as a major business.@@@@1@45@@oe@2-2-2013
20449030@unknown@formal@none@1@S@Kidder has generally been sensitive to suggestions that GE makes decisions for its Kidder unit.@@@@1@15@@oe@2-2-2013
20449031@unknown@formal@none@1@S@"Our decision had nothing to do with any pressure Mr. Welch received," Mr. Carpenter said.@@@@1@15@@oe@2-2-2013
20449032@unknown@formal@none@1@S@"This was a Kidder Peabody stand-alone decision."@@@@1@7@@oe@2-2-2013
20449033@unknown@formal@none@1@S@A spokeswoman for GE in Fairfield, Conn., said, "Absolutely no one spoke to Jack Welch on this subject" and added, "Anyone who claims they talked to Jack Welch isn't telling the truth."@@@@1@32@@oe@2-2-2013
20449034@unknown@formal@none@1@S@Supporters of index arbitrage haven't been publicly sticking up for the trading strategy, as some did during the post-crash outcry of 1987.@@@@1@22@@oe@2-2-2013
20449035@unknown@formal@none@1@S@But Merrill Lynch, in its statement about pulling out of index arbitrage, suggested that the current debate has missed the mark.@@@@1@21@@oe@2-2-2013
20449036@unknown@formal@none@1@S@Merrill said it continues to believe that "the causes of excess market volatility are far more complex than any particular computer trading strategy.@@@@1@23@@oe@2-2-2013
20449037@unknown@formal@none@1@S@Indeed, there are legitimate hedging strategies used by managers of large portfolios such as pension funds that involve program trading as a means of protecting the assets of their pension beneficiaries."@@@@1@31@@oe@2-2-2013
20449038@unknown@formal@none@1@S@Merrill's index arbitragers will continue to do other kinds of computer-assisted program trading, so there probably won't be any layoffs at the firm, people familiar with Merrill's program operation said.@@@@1@30@@oe@2-2-2013
20449039@unknown@formal@none@1@S@Meanwhile, Bear Stearns Chairman and Chief Executive Alan C. Greenberg said his firm will continue stock-index arbitrage for its clients.@@@@1@20@@oe@2-2-2013
20449040@unknown@formal@none@1@S@At the firm's annual meeting last night, he told shareholders that index arbitrage won't go away, despite the public outcry.@@@@1@20@@oe@2-2-2013
20449041@unknown@formal@none@1@S@"If they think they are going to stop index arbitrage by causing a few Wall Street firms to quit, they are crazy," Mr. Greenberg said.@@@@1@25@@oe@2-2-2013
20449042@unknown@formal@none@1@S@"It's not going to stop it at all."@@@@1@8@@oe@2-2-2013
20449043@unknown@formal@none@1@S@Mr. Greenberg, noting that stock-index arbitrage rises and ebbs with stock market's volatility, said that for the first four months of the firm's fiscal year beginning in July, stock-index arbitrage had been a "break-even" proposition for Bear Stearns.@@@@1@38@@oe@2-2-2013
20449044@unknown@formal@none@1@S@In response to a shareholder's suggestion, Mr. Greenberg agreed that European firms will simply pick up the index-arbitrage business left behind by U.S. institutions.@@@@1@24@@oe@2-2-2013
20449045@unknown@formal@none@1@S@Pressure from big institutional investors has been the major catalyst for Wall Street's program-trading pullback.@@@@1@15@@oe@2-2-2013
20449046@unknown@formal@none@1@S@And there was speculation yesterday that Fidelity Investments and other large mutual-fund companies might soon follow the lead of Kemper Corp. and other institutions in cutting off trading business to securities firms that do program trading.@@@@1@36@@oe@2-2-2013
20449047@unknown@formal@none@1@S@A Fidelity spokesman in Boston denied the speculation, saying the program-trading issue was more of a regulatory problem.@@@@1@18@@oe@2-2-2013
20449048@unknown@formal@none@1@S@But a much smaller mutual fund company, the USAA Investment Management Co. unit of USAA, San Antonio, Texas, said it informed nine national brokerage firms it will cease business with them unless they stop index-arbitrage trading.@@@@1@36@@oe@2-2-2013
20449049@unknown@formal@none@1@S@USAA, with 400,000 mutual fund accounts, manages more than $10 billion, $2 billion of which is in the stock market.@@@@1@20@@oe@2-2-2013
20449050@unknown@formal@none@1@S@Michael J.C. Roth, USAA executive vice president, called program trading "mindless."@@@@1@11@@oe@2-2-2013
20449051@unknown@formal@none@1@S@He said there is "no valid investment reason" for stock-index futures to exist.@@@@1@13@@oe@2-2-2013
20449052@unknown@formal@none@1@S@A program-bashing move is clearly on.@@@@1@6@@oe@2-2-2013
20449053@unknown@formal@none@1@S@Charles Wohlstetter, chairman of Contel, who is helping organize the alliance of Big Board-listed firms, said he had no time to work yesterday because he received so many phone calls, faxes and letters supporting his view that the Big Board has been turned into a "gambling casino" by program traders.@@@@1@50@@oe@2-2-2013
20449054@unknown@formal@none@1@S@"We are reaching the moment of truth" on Wall Street, said Rep. Edward J. Markey (D., Mass.), chairman of the House subcommittee on telecommunications and finance.@@@@1@26@@oe@2-2-2013
20449055@unknown@formal@none@1@S@"{Wall Street} is beginning to realize -- as Shakespeare said -- the trouble is not in our stars, but in ourselves."@@@@1@21@@oe@2-2-2013
20449056@unknown@formal@none@1@S@Craig Torres and Anne Newman contributed to this article.@@@@1@9@@oe@2-2-2013
20450001@unknown@formal@none@1@S@An ancient red-figured Greek kylix, or drinking cup, was recovered backstage at Sotheby's this spring and has been returned to the Manhattan couple who lost it in a burglary three years ago.@@@@1@32@@oe@2-2-2013
20450002@unknown@formal@none@1@S@Robert Guy, an associate curator at the Princeton Art Museum, was previewing a June antiquities sale at the auction house when he recognized the kylix, which he, as a specialist in Attic pottery and a careful reader of the Stolen Art Alert in "IFAR Reports," knew was stolen.@@@@1@48@@oe@2-2-2013
20450003@unknown@formal@none@1@S@The timing of his visit was fortuitous; the man who had brought it in for an estimate had returned to collect it and was waiting in the hall.@@@@1@28@@oe@2-2-2013
20450004@unknown@formal@none@1@S@To confirm Mr. Guy's identification, Sotheby's and IFAR exchanged photos by fax, and the waiting man, apparently innocent of knowledge that the kylix was stolen, agreed to release it.@@@@1@29@@oe@2-2-2013
20450005@unknown@formal@none@1@S@The cup had been insured, and in short order it was given over to a Chubb & Son representative.@@@@1@19@@oe@2-2-2013
20450006@unknown@formal@none@1@S@The original owners happily repaid the claim and took their kylix home.@@@@1@12@@oe@2-2-2013
20450007@unknown@formal@none@1@S@A former curator of the Museum of Cartoon Art in Rye Brook, N.Y., pleaded guilty in July to stealing and selling original signed and dated comic strips, among them 29 Dick Tracy strips by Chester Gould, 77 Prince Valiant Sunday cartoons by Hal Foster, and a dozen Walt Disney animation celluloids, according to Barbara Hammond, the museum's director.@@@@1@58@@oe@2-2-2013
20450008@unknown@formal@none@1@S@He sold them well below market value to raise cash "to pay off mounting credit-card debts," incurred to buy presents for his girlfriend, his attorney, Philip Russell, told IFAR.@@@@1@29@@oe@2-2-2013
20450009@unknown@formal@none@1@S@The curator, 27-year-old Sherman Krisher of Greenwich, Conn., had worked his way up from janitor in seven years at the museum.@@@@1@21@@oe@2-2-2013
20450010@unknown@formal@none@1@S@The theft was discovered early this year, soon after Ms. Hammond took her post.@@@@1@14@@oe@2-2-2013
20450011@unknown@formal@none@1@S@Sentencing was postponed on Aug. 18, when Mr. Krisher was hospitalized for depression.@@@@1@13@@oe@2-2-2013
20450012@unknown@formal@none@1@S@His efforts to get back the stolen strips had resulted in recovery of just three.@@@@1@15@@oe@2-2-2013
20450013@unknown@formal@none@1@S@But on Oct. 6, he had reason to celebrate.@@@@1@9@@oe@2-2-2013
20450014@unknown@formal@none@1@S@Two days earlier, his attorney met in a Park Avenue law office with a cartoon dealer who expected to sell 44 of the most important stolen strips to Mr. Russell for $62,800.@@@@1@32@@oe@2-2-2013
20450015@unknown@formal@none@1@S@Instead, New York City police seized the stolen goods, and Mr. Krisher avoided jail.@@@@1@14@@oe@2-2-2013
20450016@unknown@formal@none@1@S@He was sentenced to 500 hours of community service and restitution to the museum of $45,000.@@@@1@16@@oe@2-2-2013
20450017@unknown@formal@none@1@S@Authorities at London's Heathrow Airport are investigating the disappearance of a Paul Gauguin watercolor, "Young Tahitian Woman in a Red Pareo," that has two sketches on its verso (opposite) side.@@@@1@30@@oe@2-2-2013
20450018@unknown@formal@none@1@S@Valued at $1.3 million, it was part of a four-crate shipment.@@@@1@11@@oe@2-2-2013
20450019@unknown@formal@none@1@S@The air-waybill number was changed en route, and paper work showing that the crates had cleared customs was misplaced, so it was a week before three of the four crates could be located in a bonded warehouse and the Gauguin discovered missing.@@@@1@42@@oe@2-2-2013
20450020@unknown@formal@none@1@S@Although Heathrow authorities have been watching a group of allegedly crooked baggage handlers for some time, the Gauguin may be "lost."@@@@1@21@@oe@2-2-2013
20450021@unknown@formal@none@1@S@Chief Inspector Peter Seacomb of the Criminal Investigation Department at the airport said, "It is not uncommon for property to be temporarily mislaid or misrouted."@@@@1@25@@oe@2-2-2013
20450022@unknown@formal@none@1@S@Officials at the University of Virginia Art Museum certainly would agree.@@@@1@11@@oe@2-2-2013
20450023@unknown@formal@none@1@S@Their museum had purchased an Attic black-figured column krater and shipped it from London.@@@@1@14@@oe@2-2-2013
20450024@unknown@formal@none@1@S@It was reported stolen in transit en route to Washington, D.C., in February.@@@@1@13@@oe@2-2-2013
20450025@unknown@formal@none@1@S@Months later, the Greek vase arrived in good condition at the museum in Charlottesville, having inexplicably traveled by a circuitous route through Nairobi.@@@@1@23@@oe@2-2-2013
20450026@unknown@formal@none@1@S@Two Mexican college dropouts, not professional art thieves, have been arrested for a 1985 Christmas Eve burglary from the National Museum of Anthropology in Mexico City.@@@@1@26@@oe@2-2-2013
20450027@unknown@formal@none@1@S@About 140 Mayan, Aztec, Mixtec and Zapotec objects, including some of Mexico's best-known archaeological treasures, were taken.@@@@1@17@@oe@2-2-2013
20450028@unknown@formal@none@1@S@The government offered a reward for the return of the antiquities, but routine police work led to the recovery.@@@@1@19@@oe@2-2-2013
20450029@unknown@formal@none@1@S@As it turned out, Carlos Perches Trevino and Ramon Sardina Garcia had hidden the haul in a closet in the Perches family's home for a year.@@@@1@26@@oe@2-2-2013
20450030@unknown@formal@none@1@S@Then they took the art to Acapulco and began to trade some of it for cocaine.@@@@1@16@@oe@2-2-2013
20450031@unknown@formal@none@1@S@Information from an arrested drug trafficker led to the two men and the recovery of almost all the stolen art.@@@@1@20@@oe@2-2-2013
20450032@unknown@formal@none@1@S@Among other happy news bulletins from the German Democratic Republic, the Leipzig Museum of Fine Arts announced that it has recovered "Cemetery in the Snow," a painting by the German Romantic painter Caspar David Friedrich.@@@@1@35@@oe@2-2-2013
20450033@unknown@formal@none@1@S@The artist's melancholy subjects bring high prices on the world market, and the U.S. State Department notified IFAR of the theft in February 1988.@@@@1@24@@oe@2-2-2013
20450034@unknown@formal@none@1@S@According to a source at the East Europe desk, two previously convicted felons were charged, tried, convicted and sentenced to prison terms of four and 12 years.@@@@1@27@@oe@2-2-2013
20450035@unknown@formal@none@1@S@The precious canvas, cut from its frame at the time of the theft, was found in nearby Jena, hidden in the upholstery of an easy chair in the home of the girlfriend of one of the thieves.@@@@1@37@@oe@2-2-2013
20450036@unknown@formal@none@1@S@No charges were brought against her.@@@@1@6@@oe@2-2-2013
20450037@unknown@formal@none@1@S@Trompe l'oeil painting is meant to fool the eye, but Robert Lawrence Trotter, 35, of Kennett Square, Pa., took his fooling seriously.@@@@1@22@@oe@2-2-2013
20450038@unknown@formal@none@1@S@He painted one himself in the style of John Haberle and sold it as a 19th-century original to antique dealers in Woodbridge, Conn.@@@@1@23@@oe@2-2-2013
20450039@unknown@formal@none@1@S@Mr. Trotter's painting showed a wall of wood boards with painted ribbons tacked down in a rectangle; tucked behind the ribbons were envelopes, folded, faded and crumpled papers and currency.@@@@1@30@@oe@2-2-2013
20450040@unknown@formal@none@1@S@Mr. Trotter's fake Haberle was offered at a bargain price of $25,000 with a phony story that it belonged to his wife's late aunt in New Canaan, Conn.@@@@1@28@@oe@2-2-2013
20450041@unknown@formal@none@1@S@The dealers immediately showed their new acquisition to an expert and came to see it as a fake.@@@@1@18@@oe@2-2-2013
20450042@unknown@formal@none@1@S@They persuaded Mr. Trotter to take it back and, with the help of the FBI, taped their conversation with him.@@@@1@20@@oe@2-2-2013
20450043@unknown@formal@none@1@S@After his arrest, the forger admitted to faking and selling other paintings up and down the Eastern seaboard.@@@@1@18@@oe@2-2-2013
20450044@unknown@formal@none@1@S@Ms. Lowenthal is executive director of the International Foundation for Art Research (IFAR).@@@@1@13@@oe@2-2-2013
20451001@unknown@formal@none@1@S@Ford Motor Co. said it is recalling about 3,600 of its 1990-model Escorts because the windshield adhesive was improperly applied to some cars.@@@@1@23@@oe@2-2-2013
20451002@unknown@formal@none@1@S@Separately, Ford and Mazda Motor Corp.'s U.S. sales arm said they are recalling about 88,500 1988-model Mercury Tracers and 220,000 1986, 1987 and 1988 model Mazda 323s equipped with 1.6-liter fuel-injected engines to replace the oil filler cap.@@@@1@38@@oe@2-2-2013
20451003@unknown@formal@none@1@S@Mazda makes the Tracer for Ford.@@@@1@6@@oe@2-2-2013
20451004@unknown@formal@none@1@S@As a result of the adhesive problem on the Ford Escort subcompacts, windshields may easily separate from the car during frontal impact, the U.S. auto maker said.@@@@1@27@@oe@2-2-2013
20451005@unknown@formal@none@1@S@When properly applied, the adhesive is designed to retain the windshield in place in a crash test at 30 miles per hour.@@@@1@22@@oe@2-2-2013
20451006@unknown@formal@none@1@S@A Ford spokesman said the Dearborn, Mich., auto maker isn't aware of any injuries caused by the windshield problem.@@@@1@19@@oe@2-2-2013
20451007@unknown@formal@none@1@S@Ford said owners should return the cars to dealers so the windshields can be removed and securely reinstalled.@@@@1@18@@oe@2-2-2013
20451008@unknown@formal@none@1@S@Mazda and Ford said a combination of limited crankcase ventilation and improper maintenance could cause engine oil in some of the Mercury Tracers and Mazda 323s to deteriorate more rapidly than normal, causing increased engine noise or reduced engine life.@@@@1@40@@oe@2-2-2013
20451009@unknown@formal@none@1@S@They said the problems aren't safety related.@@@@1@7@@oe@2-2-2013
20451010@unknown@formal@none@1@S@Both companies will replace the oil filler cap with a ventilated oil filler cap.@@@@1@14@@oe@2-2-2013
20451011@unknown@formal@none@1@S@Both also will inspect and replace, if necessary, oil filters and oil strainers, at no charge to owners.@@@@1@18@@oe@2-2-2013
20451012@unknown@formal@none@1@S@For owners who have followed the recommended oil maintenance schedule, Mazda will extend to five years or 60,000 miles the warranty term for engine damage due to abnormal engine oil deterioration.@@@@1@31@@oe@2-2-2013
20451013@unknown@formal@none@1@S@The normal term for the 1986 and 1987 model 323 is two years or 24,000 miles; the term for the 1988 323 is three years or 50,000 miles.@@@@1@28@@oe@2-2-2013
20451014@unknown@formal@none@1@S@Ford said the term on its warranty is already six years or 60,000 miles.@@@@1@14@@oe@2-2-2013
20451015@unknown@formal@none@1@S@Separately, Ford said it will offer $750 cash rebates to buyers of its 1990-model Ford Bronco sport utility vehicle.@@@@1@19@@oe@2-2-2013
20451016@unknown@formal@none@1@S@It said it will also offer buyers the option of financing as low as 6.9% on 24-month loans.@@@@1@18@@oe@2-2-2013
20451017@unknown@formal@none@1@S@Ford also offered the low financing rate option on 1989-model Broncos, which previously carried a $750 cash discount.@@@@1@18@@oe@2-2-2013
20451018@unknown@formal@none@1@S@Ford said the new offer will begin Saturday and run indefinitely.@@@@1@11@@oe@2-2-2013
20452001@unknown@formal@none@1@S@The Supreme Court agreed to decide whether the federal Pension Benefit Guaranty Corp. may require LTV Corp. to reassume funding responsibility for a $2.3 billion shortfall in the company's pension plans.@@@@1@31@@oe@2-2-2013
20452002@unknown@formal@none@1@S@The high court's decision, expected next spring, may affect the stability of many large corporate pension plans that have relied on the availability of pension insurance provided by the federal pension regulatory and insurance agency.@@@@1@35@@oe@2-2-2013
20452003@unknown@formal@none@1@S@The agency, which is funded through insurance premiums from employers, insures pension benefits for some 30 million private-sector workers who take part in single-employer pension plans.@@@@1@26@@oe@2-2-2013
20452004@unknown@formal@none@1@S@It recently reported assets of $2.4 billion and liabilities of $4 billion.@@@@1@12@@oe@2-2-2013
20452005@unknown@formal@none@1@S@In its appeal to the high court, the agency said the federal appeals court ruling, which favored LTV, threatened to transform the agency from an insurer of troubled pension plans into an "open-ended source of industry bailouts."@@@@1@37@@oe@2-2-2013
20452006@unknown@formal@none@1@S@The ruling also may determine how quickly LTV is able to complete its Chapter 11 reorganization.@@@@1@16@@oe@2-2-2013
20452007@unknown@formal@none@1@S@LTV filed for protection under Chapter 11 in federal bankruptcy court in 1986.@@@@1@13@@oe@2-2-2013
20452008@unknown@formal@none@1@S@The filing was partly the result of the $2.3 billion shortfall in LTV's three pension plans operated for its LTV Steel Co. subsidiary's employees.@@@@1@24@@oe@2-2-2013
20452009@unknown@formal@none@1@S@In January 1987, as LTV Steel continued operating while under reorganization, the agency terminated the three LTV pension plans to keep its insurance liability from increasing.@@@@1@26@@oe@2-2-2013
20452010@unknown@formal@none@1@S@Termination means that the agency's insurance assumes the liabilities and pays the pension benefits already owed under the plans, but workers don't accrue new benefits.@@@@1@25@@oe@2-2-2013
20452011@unknown@formal@none@1@S@A few months later, under pressure from the United Steelworkers of America, LTV instituted a new program to provide retirement benefits similar to those in the terminated plans.@@@@1@28@@oe@2-2-2013
20452012@unknown@formal@none@1@S@Because the federal pension agency had taken over the old plans, LTV would be responsible only for benefits paid under the new pension plans.@@@@1@24@@oe@2-2-2013
20452013@unknown@formal@none@1@S@But the agency viewed the creation of the new plans as an abuse of federal pension law and an attempt to transfer the liability of the $2.3 billion shortfall from LTV to federal insurance.@@@@1@34@@oe@2-2-2013
20452014@unknown@formal@none@1@S@The agency also concluded that LTV's financial status had improved while it was under reorganization.@@@@1@15@@oe@2-2-2013
20452015@unknown@formal@none@1@S@In September 1987, it ordered LTV to reassume liability and funding for the three original plans.@@@@1@16@@oe@2-2-2013
20452016@unknown@formal@none@1@S@LTV challenged the order, and a federal district court in New York in June 1988 ruled that the agency improperly ordered LTV to reassume responsibility for the plans.@@@@1@28@@oe@2-2-2013
20452017@unknown@formal@none@1@S@In May, a federal appeals court in New York agreed that the agency acted unlawfully.@@@@1@15@@oe@2-2-2013
20452018@unknown@formal@none@1@S@The appeals court said there was no evidence that Congress intended to allow the pension agency to consider a company's creation of new benefit plans as a basis for ordering that company to reassume liability for old plans.@@@@1@38@@oe@2-2-2013
20452019@unknown@formal@none@1@S@The appeals court also said the agency had to consider a company's long-term ability to fund pension plans, not just short-term improved financial status.@@@@1@24@@oe@2-2-2013
20452020@unknown@formal@none@1@S@In Dallas, LTV said that it was disappointed that the court agreed to hear the case because it believes the move will further delay its Chapter 11 proceedings.@@@@1@28@@oe@2-2-2013
20452021@unknown@formal@none@1@S@The company hasn't been able to come up with a reorganization plan, in part, because of the sizable disagreement with the pension agency.@@@@1@23@@oe@2-2-2013
20452022@unknown@formal@none@1@S@But LTV, a steel, aerospace and energy concern, said it is confident that the Supreme Court will uphold the lower-court decisions and said it expects to continue discussions with the agency about a settlement while the case is being reviewed.@@@@1@40@@oe@2-2-2013
20452023@unknown@formal@none@1@S@(Pension Benefit Guaranty Corp. vs. LTV Corp.@@@@1@7@@oe@2-2-2013
20453001@unknown@formal@none@1@S@The commercial was absolutely silent.@@@@1@5@@oe@2-2-2013
20453002@unknown@formal@none@1@S@Breaking into the raucous Chicago Bears-Cleveland Browns match during last week's Monday night football game, it was nothing but simple block letters superimposed on the TV screen.@@@@1@27@@oe@2-2-2013
20453003@unknown@formal@none@1@S@"Due to the earthquake in San Francisco, Nissan is donating its commercial air time to broadcast American Red Cross Emergency Relief messages.@@@@1@22@@oe@2-2-2013
20453004@unknown@formal@none@1@S@Please contribute what you can," the ad said.@@@@1@8@@oe@2-2-2013
20453005@unknown@formal@none@1@S@The Nissan logo flashed on the screen for a moment, and then came a taped plea for donations from former President Reagan -- followed by the silent print telling viewers where to call.@@@@1@33@@oe@2-2-2013
20453006@unknown@formal@none@1@S@Within two hours, viewers pledged over $400,000, according to a Red Cross executive.@@@@1@13@@oe@2-2-2013
20453007@unknown@formal@none@1@S@Call it disaster marketing.@@@@1@4@@oe@2-2-2013
20453008@unknown@formal@none@1@S@Nissan Motor is just one of a slew of advertisers that have hitched their ads to the devastating San Francisco quake and Hurricane Hugo.@@@@1@24@@oe@2-2-2013
20453009@unknown@formal@none@1@S@Sometimes, the ads attempt to raise money; always, they try to boost good will.@@@@1@14@@oe@2-2-2013
20453010@unknown@formal@none@1@S@By advertising disaster relief, these companies are hoping to don a white hat and come out a hero.@@@@1@18@@oe@2-2-2013
20453011@unknown@formal@none@1@S@But the strategy can backfire; if the ads appear too self-serving, the companies may end up looking like rank opportunists instead of good Samaritans.@@@@1@24@@oe@2-2-2013
20453012@unknown@formal@none@1@S@That hasn't deterred plenty of companies.@@@@1@6@@oe@2-2-2013
20453013@unknown@formal@none@1@S@Along with Nissan, Grand Metropolitan PLC's Burger King and New York Life Insurance have tied ads to Red Cross donations.@@@@1@20@@oe@2-2-2013
20453014@unknown@formal@none@1@S@Other ads don't bother with the fundraising; a touching, if self-congratulatory, American Telephone & Telegraph ad that aired Sunday intermixed footage of the devastation in San Francisco and Charleston, S.C., with interviews of people recounting how AT&T helped.@@@@1@38@@oe@2-2-2013
20453015@unknown@formal@none@1@S@At Nissan, "we felt we wanted to do something to help them gather money, and we had this airtime on Monday Night Football," explains Brooke Mitzel, a Nissan advertising creative manager.@@@@1@31@@oe@2-2-2013
20453016@unknown@formal@none@1@S@"What did we get out of it?@@@@1@7@@oe@2-2-2013
20453017@unknown@formal@none@1@S@We got some exposure . . . and pretty much good will."@@@@1@12@@oe@2-2-2013
20453018@unknown@formal@none@1@S@The ads are just the latest evidence of how television advertising is getting faster on the draw.@@@@1@17@@oe@2-2-2013
20453019@unknown@formal@none@1@S@While TV commercials typically take weeks to produce, advertisers in the past couple of years have learned to turn on a dime, to crash out ads in days or even hours.@@@@1@31@@oe@2-2-2013
20453020@unknown@formal@none@1@S@The big brokerage houses learned the art of the instant commercial after the 1987 crash, when they turned out reassuring ads inviting investors right back into the stock market.@@@@1@29@@oe@2-2-2013
20453021@unknown@formal@none@1@S@They trotted out another crop of instant commercials after the sudden market dip a few weeks ago.@@@@1@17@@oe@2-2-2013
20453022@unknown@formal@none@1@S@Nissan created its quake ad in a weekend.@@@@1@8@@oe@2-2-2013
20453023@unknown@formal@none@1@S@But as advertisers latch onto disasters with increasing frequency, they risk hurting themselves as much as helping the cause.@@@@1@19@@oe@2-2-2013
20453024@unknown@formal@none@1@S@They chance alienating the customers they hope to woo by looking like opportunistic sharks.@@@@1@14@@oe@2-2-2013
20453025@unknown@formal@none@1@S@"People see extra messages in advertising, and if a manufacturer is clearly trying to get something out of it . . . if it's too transparent . . . then consumers will see through that," warns John Philip Jones, chairman of the advertising department at the Newhouse School of Public Communications at Syracuse University.@@@@1@54@@oe@2-2-2013
20453026@unknown@formal@none@1@S@"It can backfire because companies can step across the line and go too far, be too pushy," agrees Gary Stibel, a principal with New England Consulting Group, Westport, Conn.@@@@1@29@@oe@2-2-2013
20453027@unknown@formal@none@1@S@"The ultimate form of charity is when you don't tell anyone."@@@@1@11@@oe@2-2-2013
20453028@unknown@formal@none@1@S@Still, he says that only a few of the quake-related campaigns have been "tasteless" and that "the majority have been truly beneficial to the people who need the help.@@@@1@29@@oe@2-2-2013
20453029@unknown@formal@none@1@S@We don't consider that ambulance chasing."@@@@1@6@@oe@2-2-2013
20453030@unknown@formal@none@1@S@The companies running the disaster ads certainly don't see themselves as ambulance chasers, either.@@@@1@14@@oe@2-2-2013
20453031@unknown@formal@none@1@S@Burger King's chief executive officer, Barry Gibbons, stars in ads saying that the fast-food chain will donate 25 cents to the Red Cross for every purchase of a BK Doubles hamburger.@@@@1@31@@oe@2-2-2013
20453032@unknown@formal@none@1@S@The campaign, which started last week and runs through Nov. 23, with funds earmarked for both the quake and Hugo, "was Barry's idea," a spokeswoman says.@@@@1@26@@oe@2-2-2013
20453033@unknown@formal@none@1@S@"Barry felt very committed.@@@@1@4@@oe@2-2-2013
20453034@unknown@formal@none@1@S@He felt we should be giving something back."@@@@1@8@@oe@2-2-2013
20453035@unknown@formal@none@1@S@While the campaign was Mr. Gibbons's idea, however, he won't be paying for it: The donations will come out of the chain's national advertising fund, which is financed by the franchisees.@@@@1@31@@oe@2-2-2013
20453036@unknown@formal@none@1@S@And by basing donations on BK Doubles, a new double-hamburger line the fast-food chain is trying to push, Burger King works a sales pitch into its public-service message.@@@@1@28@@oe@2-2-2013
20453037@unknown@formal@none@1@S@Toyota's upscale Lexus division, a sponsor of the World Series, also put in a plug for Red Cross donations in a World Series game it sponsored.@@@@1@26@@oe@2-2-2013
20453038@unknown@formal@none@1@S@"The World Series is brought to you by Lexus, who urges you to help relieve the suffering caused by the recent earthquake . . . ," the game announcer said.@@@@1@30@@oe@2-2-2013
20453039@unknown@formal@none@1@S@And New York Life made a plea for Red Cross donations in newspaper ads in the San Francisco area, latching onto the coattails of the Red Cross's impeccable reputation: "The Red Cross has been helping people for 125 years.@@@@1@39@@oe@2-2-2013
20453040@unknown@formal@none@1@S@New York Life has been doing the same for over 140 years."@@@@1@12@@oe@2-2-2013
20453041@unknown@formal@none@1@S@Nancy Craig, advertising manager for the Red Cross, readily admits "they're piggybacking on our reputation."@@@@1@15@@oe@2-2-2013
20453042@unknown@formal@none@1@S@But she has no problem with that, she says: "In the meanwhile, they're helping us."@@@@1@15@@oe@2-2-2013
20453043@unknown@formal@none@1@S@The Red Cross doesn't track contributions raised by the disaster ads, but it has amassed $46.6 million since it first launched its hurricane relief effort Sept. 23.@@@@1@27@@oe@2-2-2013
20453044@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
20453045@unknown@formal@none@1@S@NEW ACCOUNT:@@@@1@2@@oe@2-2-2013
20453046@unknown@formal@none@1@S@Northrup King Co., Golden Valley, Minn., awarded its $4 million field-crop-seeds account to Creswell, Munsell, Fultz & Zirbel, a Cedar Rapids, Iowa, division of Young & Rubicam.@@@@1@27@@oe@2-2-2013
20453047@unknown@formal@none@1@S@The account had previously been handled by Saatchi & Saatchi Wegener, New York.@@@@1@13@@oe@2-2-2013
20453048@unknown@formal@none@1@S@TV GUIDE:@@@@1@2@@oe@2-2-2013
20453049@unknown@formal@none@1@S@Wieden & Kennedy, Portland, Ore., was named to handle the News Corp. publication's $1 million to $2 million trade-ad account.@@@@1@20@@oe@2-2-2013
20453050@unknown@formal@none@1@S@N W Ayer, the New York agency that had handled the account since 1963, resigned the account about two weeks ago.@@@@1@21@@oe@2-2-2013
20453051@unknown@formal@none@1@S@NO ALCOHOL:@@@@1@2@@oe@2-2-2013
20453052@unknown@formal@none@1@S@Miller Brewing Co. will introduce its first non-alcoholic beer Jan. 1.@@@@1@11@@oe@2-2-2013
20453053@unknown@formal@none@1@S@The brew, called Miller Sharp's, will be supported by ads developed by Frankenberry, Laughlin & Constable, Milwaukee.@@@@1@17@@oe@2-2-2013
20454001@unknown@formal@none@1@S@RADIO:@@@@1@1@@oe@2-2-2013
20454002@unknown@formal@none@1@S@Viacom Broadcasting Inc. definitively agreed to acquire KOFY(AM) and KOFY-FM in San Francisco for about $19.5 million from Pacific FM Inc.@@@@1@21@@oe@2-2-2013
20455001@unknown@formal@none@1@S@The Supreme Court let stand a New York court's ruling that the manufacturers of a drug once used to prevent miscarriages must share liability for injuries or deaths when the maker of an individual dose is unknown.@@@@1@37@@oe@2-2-2013
20455002@unknown@formal@none@1@S@The high court's action, refusing to hear appeals by several drug companies, is likely to have a significant impact at several levels.@@@@1@22@@oe@2-2-2013
20455003@unknown@formal@none@1@S@The most immediate effect is in New York, where former manufacturers of the anti-miscarriage drug DES -- the synthetic female hormone diethylstilbestrol -- face the prospect of shared liability for damages in many of the 700 to 1,000 DES lawsuits pending in that state.@@@@1@44@@oe@2-2-2013
20455004@unknown@formal@none@1@S@The lawsuits stemmed from the development of cancer and other problems in the daughters of women who took the drug.@@@@1@20@@oe@2-2-2013
20455005@unknown@formal@none@1@S@On a broader scale, the ruling could encourage other states' courts to adopt the logic of the New York court, not only in DES cases but in other product-related lawsuits, as well.@@@@1@32@@oe@2-2-2013
20455006@unknown@formal@none@1@S@The New York Court of Appeals ruling parallels a 1980 decision by the California Supreme Court requiring shared liability among manufacturers for injuries when it can't be determined which company is at fault.@@@@1@33@@oe@2-2-2013
20455007@unknown@formal@none@1@S@Paul Rheingold, a New York lawyer who represents DES victims, said that before the New York ruling, only the states of Washington and Wisconsin had followed the California decision.@@@@1@29@@oe@2-2-2013
20455008@unknown@formal@none@1@S@Now that the New York decision has been left intact, other states may follow suit.@@@@1@15@@oe@2-2-2013
20455009@unknown@formal@none@1@S@"Generally, when New York and California go one way, it has a tremendous influence on other states, especially small ones," said Mr. Rheingold.@@@@1@23@@oe@2-2-2013
20455010@unknown@formal@none@1@S@The high court refused to hear appeals by Rexall Drug Co., which went out of business in 1987 and was taken over by RXDC Liquidating Trust; E.R. Squibb & Sons Inc., a unit of Squibb Corp.; and Eli Lilly & Co.@@@@1@41@@oe@2-2-2013
20455011@unknown@formal@none@1@S@The appeals involved DES, which was approved by the Food and Drug Administration for use from the 1940s until 1971 to prevent miscarriages during pregnancy.@@@@1@25@@oe@2-2-2013
20455012@unknown@formal@none@1@S@In 1971, the FDA banned the use of DES after studies linked it to cancer and other problems in daughters of women who took the drug.@@@@1@26@@oe@2-2-2013
20455013@unknown@formal@none@1@S@Lawsuits over the harm caused by DES have flooded federal and state courts in the past decade.@@@@1@17@@oe@2-2-2013
20455014@unknown@formal@none@1@S@In many cases, the lawsuit was filed long after the drug was used -- the cancer in the daughters was typically not detected for years -- and there is no way to prove which of several companies manufactured the doses consumed by certain women.@@@@1@44@@oe@2-2-2013
20455015@unknown@formal@none@1@S@Under traditional legal theories, inability to prove which company manufactured a drug that caused an injury or death would lead to the lawsuit being dismissed.@@@@1@25@@oe@2-2-2013
20455016@unknown@formal@none@1@S@But in its ruling last April, the New York court said that all producers of the anti-miscarriage drug should share liability when the manufacturer of a specific dose can't be determined.@@@@1@31@@oe@2-2-2013
20455017@unknown@formal@none@1@S@Each company's share of liability would be based on their share of the national DES market.@@@@1@16@@oe@2-2-2013
20455018@unknown@formal@none@1@S@The New York court also upheld a state law, passed in 1986, extending for one year the statute of limitations on filing DES lawsuits.@@@@1@24@@oe@2-2-2013
20455019@unknown@formal@none@1@S@The effect is that lawsuits that might have been barred because they were filed too late could proceed because of the one-year extension.@@@@1@23@@oe@2-2-2013
20455020@unknown@formal@none@1@S@(Rexall Drug Co. vs. Tigue; E.R. Squibb & Sons Inc. vs. Hymowitz, and Eli Lilly & Co. vs. Hymowitz)@@@@1@19@@oe@2-2-2013
20455021@unknown@formal@none@1@S@Government Contractors@@@@1@2@@oe@2-2-2013
20455022@unknown@formal@none@1@S@The high court, leaving intact a $4.25 million damage award against General Dynamics Corp., declined to resolve questions about a legal defense against civil lawsuits often used by government contractors.@@@@1@30@@oe@2-2-2013
20455023@unknown@formal@none@1@S@Last year, the Supreme Court defined when companies, such as military contractors, may defend themselves against lawsuits for deaths or injuries by asserting that they were simply following specifications of a federal government contract.@@@@1@34@@oe@2-2-2013
20455024@unknown@formal@none@1@S@In that decision, the high court said a company must prove that the government approved precise specifications for the contract, that those specifications were met and that the government was warned of any dangers in use of the equipment.@@@@1@39@@oe@2-2-2013
20455025@unknown@formal@none@1@S@But last February, a federal appeals court in New Orleans upheld a damage award against General Dynamics, rejecting the company's use of the government contractor defense.@@@@1@26@@oe@2-2-2013
20455026@unknown@formal@none@1@S@The appeals court said the defense is valid only if federal officials did more than rubber stamp a company's design or plans and engaged in a "substantive review and evaluation" on a par with a policy decision.@@@@1@37@@oe@2-2-2013
20455027@unknown@formal@none@1@S@General Dynamics appealed to the high court, backed by numerous business trade groups, arguing that the appeals court definition restricts the defense too severely.@@@@1@24@@oe@2-2-2013
20455028@unknown@formal@none@1@S@General Dynamics was sued by the families of five Navy divers who were killed in 1982 after they re-entered a submarine through a diving chamber.@@@@1@25@@oe@2-2-2013
20455029@unknown@formal@none@1@S@The accident was caused by faulty operation of a valve.@@@@1@10@@oe@2-2-2013
20455030@unknown@formal@none@1@S@A federal district court awarded damages to the families and the appeals court affirmed the award.@@@@1@16@@oe@2-2-2013
20455031@unknown@formal@none@1@S@(General Dynamics Corp. vs. Trevino@@@@1@5@@oe@2-2-2013
20455032@unknown@formal@none@1@S@Court in Brief@@@@1@3@@oe@2-2-2013
20455033@unknown@formal@none@1@S@In other action yesterday, the high court:@@@@1@7@@oe@2-2-2013
20455034@unknown@formal@none@1@S@-- Let stand the mail fraud and conspiracy conviction of John Lavery, a former vice president of Beech-Nut Nutrition Corp., a unit of Nestle S.A.@@@@1@25@@oe@2-2-2013
20455035@unknown@formal@none@1@S@The conviction stemmed from federal charges of consumer fraud for sale of phony infant apple juice between 1978 and 1983.@@@@1@20@@oe@2-2-2013
20455036@unknown@formal@none@1@S@(Lavery vs. U.S.)@@@@1@3@@oe@2-2-2013
20455037@unknown@formal@none@1@S@-- Left intact an award of $1.5 million in damages against Dow Chemical Co. in the death of an Oregon man from exposure to Agent Orange.@@@@1@26@@oe@2-2-2013
20455038@unknown@formal@none@1@S@The award was made by a federal court to the widow of a U.S. Forest Service employee who contracted Hodgkin's disease after using herbicides containing Agent Orange in a weed-killing program.@@@@1@31@@oe@2-2-2013
20456001@unknown@formal@none@1@S@It can be hoped that Spanish Prime Minister Felipe Gonzalez will draw the right conclusion from his narrow election victory Sunday.@@@@1@21@@oe@2-2-2013
20456002@unknown@formal@none@1@S@A strong challenge from the far left, the Communist coalition Izquierda Unida, failed to topple him.@@@@1@16@@oe@2-2-2013
20456003@unknown@formal@none@1@S@He should consider his victory a mandate to continue his growth-oriented economic reforms and not a demand that he move further left.@@@@1@22@@oe@2-2-2013
20456004@unknown@formal@none@1@S@If he follows the correct path, he may be able to look back on this election as the high-water mark of far-left opposition.@@@@1@23@@oe@2-2-2013
20456005@unknown@formal@none@1@S@The far left had some good issues even if it did not have good programs for dealing with them.@@@@1@19@@oe@2-2-2013
20456006@unknown@formal@none@1@S@It could point to plenty of ailments that the Spanish economic rejuvenation so far has failed to cure.@@@@1@18@@oe@2-2-2013
20456007@unknown@formal@none@1@S@Unemployment still is officially recorded at 16.5%, the highest rate in Europe, although actual joblessness may be lower.@@@@1@18@@oe@2-2-2013
20456008@unknown@formal@none@1@S@Housing is scarce and public services -- the court system, schools, mail service, telephone network and the highways -- are in disgraceful condition.@@@@1@23@@oe@2-2-2013
20456009@unknown@formal@none@1@S@Large pockets of poverty still exist.@@@@1@6@@oe@2-2-2013
20456010@unknown@formal@none@1@S@The left also is critical of the style of the Socialist government -- a remarkable parallel to the situation in Britain.@@@@1@21@@oe@2-2-2013
20456011@unknown@formal@none@1@S@Mr. Gonzalez and his colleagues, particularly the finance minister, Carlos Solchaga, are charged with having abandoned their socialist principles and with having become arrogant elitists who refuse even to go on television (controlled by the state) to face their accusers.@@@@1@40@@oe@2-2-2013
20456012@unknown@formal@none@1@S@In response to this, the Socialist prime minister has simply cited his free-market accomplishments.@@@@1@14@@oe@2-2-2013
20456013@unknown@formal@none@1@S@They are very considerable: Since 1986, when Spain joined the European Community, its gross domestic product has grown at an annual average of 4.6% -- the fastest in the EC.@@@@1@30@@oe@2-2-2013
20456014@unknown@formal@none@1@S@In that time more than 1.2 million jobs have been created and the official jobless rate has been pushed below 17% from 21%.@@@@1@23@@oe@2-2-2013
20456015@unknown@formal@none@1@S@A 14% inflation rate dropped below 5%.@@@@1@7@@oe@2-2-2013
20456016@unknown@formal@none@1@S@Net foreign investment through August this year has been running at a pace of $12.5 billion, about double the year-earlier rate.@@@@1@21@@oe@2-2-2013
20456017@unknown@formal@none@1@S@Mr. Gonzalez also has split with the left in reaffirming Spain's NATO commitment and in renewing a defense treaty with the U.S.@@@@1@22@@oe@2-2-2013
20456018@unknown@formal@none@1@S@Mr. Gonzalez is not quite a closet supply-side revolutionary, however.@@@@1@10@@oe@2-2-2013
20456019@unknown@formal@none@1@S@He did not go as far as he could have in tax reductions; indeed he combined them with increases in indirect taxes.@@@@1@22@@oe@2-2-2013
20456020@unknown@formal@none@1@S@Yet the best the far-left could do was not enough to deter the biggest voting bloc -- nearly 40% -- from endorsing the direction Spain is taking.@@@@1@27@@oe@2-2-2013
20456021@unknown@formal@none@1@S@Now he can go further.@@@@1@5@@oe@2-2-2013
20456022@unknown@formal@none@1@S@He should do more to reduce tax rates on wealth and income, in recognition of the fact that those cuts yield higher, not lower, revenues.@@@@1@25@@oe@2-2-2013
20456023@unknown@formal@none@1@S@He could do more to cut public subsidies and transfers, thus making funds available for public services starved of money for six years.@@@@1@23@@oe@2-2-2013
20456024@unknown@formal@none@1@S@The voters delivered Mr. Gonzalez a third mandate for his successes.@@@@1@11@@oe@2-2-2013
20456025@unknown@formal@none@1@S@They, as well as numerous Latin American and East European countries that hope to adopt elements of the Spanish model, are supporting the direction Spain is taking.@@@@1@27@@oe@2-2-2013
20456026@unknown@formal@none@1@S@It would be sad for Mr. Gonzalez to abandon them to appease his foes.@@@@1@14@@oe@2-2-2013
20457001@unknown@formal@none@1@S@Monday, October 30, 1989@@@@1@4@@oe@2-2-2013
20457002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
20457003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
20457004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
20457005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 3/4% high, 8 11/16% low, 8 3/4% near closing bid, 8 3/4% offered.@@@@1@16@@oe@2-2-2013
20457006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
20457007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
20457008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
20457009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
20457010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
20457011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
20457012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.:8.50% 30 to 44 days; 8.25% 45 to 62 days; 8.375% 63 to 89 days; 8% 90 to 119 days; 7.90% 120 to 149 days; 7.80% 150 to 179 days; 7.55% 180 to 270 days.@@@@1@43@@oe@2-2-2013
20457013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000:8.55% 30 days; 8.50% 60 days; 8.45% 90 days.@@@@1@23@@oe@2-2-2013
20457014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.09% one month; 8.04% two months; 8.03% three months; 7.96% six months; 7.92% one year.@@@@1@18@@oe@2-2-2013
20457015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
20457016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
20457017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.55% one month; 8.55% three months; 8.35% six months.@@@@1@15@@oe@2-2-2013
20457018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.47% 30 days; 8.42% 60 days; 8.25% 90 days; 8.10% 120 days; 8.02% 150 days; 7.95% 180 days.@@@@1@20@@oe@2-2-2013
20457019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
20457020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 3/4% to 8 5/8% one month; 8 13/16% to 8 11/16% two months; 8 11/16% to 8 9/16% three months; 8 9/16% to 8 7/16% four months; 8 1/2% to 8 3/8% five months; 8 7/16% to 8 5/16% six months.@@@@1@45@@oe@2-2-2013
20457021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 11/16% one month; 8 11/16% three months; 8 7/16% six months; 8 3/8% one year.@@@@1@21@@oe@2-2-2013
20457022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
20457023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 9%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
20457024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
20457025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 30, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.78%, 13 weeks; 7.62%, 26 weeks.@@@@1@35@@oe@2-2-2013
20457026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac): Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@18@@oe@2-2-2013
20457027@unknown@formal@none@1@S@9.86%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
20457028@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
20457029@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae): Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par).@@@@1@21@@oe@2-2-2013
20457030@unknown@formal@none@1@S@9.76%, standard conventional fixed-rate mortgages; 8.75%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
20457031@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
20457032@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.70%.@@@@1@6@@oe@2-2-2013
20457033@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
20458001@unknown@formal@none@1@S@Oh, that terrible Mr. Ortega.@@@@1@5@@oe@2-2-2013
20458002@unknown@formal@none@1@S@Just when American liberalism had pulled the arms plug on the Contras and their friend Ronald Reagan, along comes Mr. Ortega in Costa Rica this weekend to "blunder" into the hands of what are often called conservatives.@@@@1@37@@oe@2-2-2013
20458003@unknown@formal@none@1@S@Conservatives are the faction in U.S. politics which always said that Mr. Ortega and his friends don't want to hold an election in Nicaragua.@@@@1@24@@oe@2-2-2013
20458004@unknown@formal@none@1@S@Liberals are the faction that says, Give peace a chance; now they are saying Mr. Ortega should give them a break, lest the conservatives ask them to vote for bullets instead of bandages.@@@@1@33@@oe@2-2-2013
20458005@unknown@formal@none@1@S@We suspect Daniel Ortega knows the difference between a blunder and a strategy.@@@@1@13@@oe@2-2-2013
20458006@unknown@formal@none@1@S@He knows that making George Bush look silly in a photograph with him will trigger Noriegan fulminations, and that announcing an end to the liberals' cease-fire will produce mainly their concern over the Contras' military activities in northern Nicaragua.@@@@1@39@@oe@2-2-2013
20458007@unknown@formal@none@1@S@Mr. Ortega understands better than those who worry about his behavior that what sustains the Sandinista movement is not democratic peace, but nondemocratic unpeace.@@@@1@24@@oe@2-2-2013
20458008@unknown@formal@none@1@S@It is the presence of internal and external "enemies" which justifies the need for a large, active army that Mikhail Gorbachev's Soviet Union continues to supply with bullets.@@@@1@28@@oe@2-2-2013
20459001@unknown@formal@none@1@S@Annualized interest rates on certain investments as reported by the Federal Reserve Board on a weekly-average basis:@@@@1@17@@oe@2-2-2013
20459002@unknown@formal@none@1@S@a-Discounted rate.@@@@1@2@@oe@2-2-2013
20459003@unknown@formal@none@1@S@b-Week ended Wednesday, October 25, 1989 and Wednesday October 18, 1989.@@@@1@11@@oe@2-2-2013
20459004@unknown@formal@none@1@S@c-Yields, adjusted for constant maturity.@@@@1@5@@oe@2-2-2013
20460001@unknown@formal@none@1@S@Cetus Corp. said the government of Spain approved the marketing of its Proleukin interleukin-2 drug to treat kidney cancer.@@@@1@19@@oe@2-2-2013
20460002@unknown@formal@none@1@S@The biotechnology concern said Spanish authorities must still clear the price for the treatment, but that it expects to receive such approval by year end.@@@@1@25@@oe@2-2-2013
20460003@unknown@formal@none@1@S@Four other countries in Europe have approved Proleukin in recent months.@@@@1@11@@oe@2-2-2013
20460004@unknown@formal@none@1@S@Cetus is currently trying to obtain federal regulatory clearance for U.S. distribution.@@@@1@12@@oe@2-2-2013
20461001@unknown@formal@none@1@S@The Treasury Department proposed that banks be required to keep detailed records of international wire transfers, which officials believe is the main vehicle used by drug traffickers to move billions of dollars in and out of the U.S.@@@@1@38@@oe@2-2-2013
20461002@unknown@formal@none@1@S@In recent testimony on Capitol Hill, Treasury officials said they were considering the new reporting requirements, and the expected publication of the proposal in the Federal Register today is the first official step toward creating final regulations.@@@@1@37@@oe@2-2-2013
20461003@unknown@formal@none@1@S@The Treasury is still working out the details with bank trade associations and the other government agencies that have a hand in fighting money laundering.@@@@1@25@@oe@2-2-2013
20461004@unknown@formal@none@1@S@Among the possibilities the Treasury is considering are requirements that banks keep records identifying the originators and recipients of international wire transfers.@@@@1@22@@oe@2-2-2013
20461005@unknown@formal@none@1@S@Another suggestion would draw banks more directly into tracking down money launderers by developing a "suspicious international wire transfer profile," which banks would use to spotlight questionable payments.@@@@1@28@@oe@2-2-2013
20461006@unknown@formal@none@1@S@But banks may prefer using a profile that targets selected transactions, rather than a blanket reporting requirement.@@@@1@17@@oe@2-2-2013
20461007@unknown@formal@none@1@S@Banks now are required only to report cash deposits or withdrawals of $10,000 or more.@@@@1@15@@oe@2-2-2013
20461008@unknown@formal@none@1@S@But wire transfers from a standing account -- including those bigger than $10,000 -- aren't reported.@@@@1@16@@oe@2-2-2013
20461009@unknown@formal@none@1@S@Officials believe this has left a gaping loophole that illegal drug businesses are exploiting.@@@@1@14@@oe@2-2-2013
20461010@unknown@formal@none@1@S@Authorities estimate that revenues from illegal drugs in the U.S. total about $110 billion annually.@@@@1@15@@oe@2-2-2013
20461011@unknown@formal@none@1@S@Sen. John Kerry (D., Mass.), chairman of a Senate Foreign Relations subcommittee that oversees the issue of money laundering, criticized the proposal for ignoring wire transfers between foreign banks that are executed and cleared on U.S. wire systems.@@@@1@38@@oe@2-2-2013
20461012@unknown@formal@none@1@S@The American Bankers Association didn't have any comment on the plan.@@@@1@11@@oe@2-2-2013
20461013@unknown@formal@none@1@S@The proposal now enters a 60-day comment period, after which the Treasury will propose final regulations, followed by another comment period.@@@@1@21@@oe@2-2-2013
20462001@unknown@formal@none@1@S@Western Union Corp. took steps to withdraw its proposed debt swap for $500 million in high-interest notes and said it is looking at other alternatives for refinancing the debt.@@@@1@29@@oe@2-2-2013
20462002@unknown@formal@none@1@S@Western Union had said two weeks ago that it might withdraw the pending offer, which would have replaced $500 million in so-called reset notes, now paying 19.25% annual interest and set to come due in 1992, with two new issues paying lower interest.@@@@1@43@@oe@2-2-2013
20462003@unknown@formal@none@1@S@Yesterday the company said it had filed a request with the Securities and Exchange Commission to withdraw the registration statement regarding the proposed swap.@@@@1@24@@oe@2-2-2013
20462004@unknown@formal@none@1@S@A Western Union spokesman, citing adverse developments in the market for high-yield "junk" bonds, declined to say what alternatives are under consideration.@@@@1@22@@oe@2-2-2013
20462005@unknown@formal@none@1@S@But some holders of the Western Union notes expect the company to propose a more-attractive debt swap that will give them a substantial equity stake in the company.@@@@1@28@@oe@2-2-2013
20462006@unknown@formal@none@1@S@Western Union has had major losses in recent years as its telex business has faltered in the face of competition from facsimile machines and as other business ventures have gone awry.@@@@1@31@@oe@2-2-2013
20462007@unknown@formal@none@1@S@The major question, said one holder who asked not to be named, is whether New York investor Bennett S. LeBow, whose Brooke Partners controls Western Union, is willing to offer a large enough equity stake to entice bondholders into agreeing to a new swap.@@@@1@44@@oe@2-2-2013
20462008@unknown@formal@none@1@S@The $500 million in notes, the largest chunk of Western Union's $640 million in long-term debt, stems from the company's major restructuring in December 1987.@@@@1@25@@oe@2-2-2013
20462009@unknown@formal@none@1@S@The notes became burdensome when reset provisions allowed their interest rate to be raised to 19.25% last June.@@@@1@18@@oe@2-2-2013
20462010@unknown@formal@none@1@S@Western Union had offered to swap each $1,000 face amount of the notes for six shares of common stock and two new debt issues: a $500 note paying an interest rate starting at 16.75% annually and rising in later years, due in 1992, and a $500 note, due in 1997, paying a fixed rate of 17% and including rights protecting a holder against a decline in the trading price of the bond.@@@@1@72@@oe@2-2-2013
20462011@unknown@formal@none@1@S@Western Union must make $48 million in interest payments on the reset notes on Dec. 15, and a company spokesman said it fully intends to meet the payments.@@@@1@28@@oe@2-2-2013
20462012@unknown@formal@none@1@S@But Western Union has said it must lower the interest rate on its debt to regain full financial health.@@@@1@19@@oe@2-2-2013
20463001@unknown@formal@none@1@S@Genentech Inc. said the West German distributor of its heart drug TPA reached a joint marketing agreement with a subsidiary of Hoechst AG, which makes the rival anti-clotting agent streptokinase.@@@@1@30@@oe@2-2-2013
20463002@unknown@formal@none@1@S@The biotechnology concern said the agreement between its longtime West German distributor, Boehringer-Ingleheim's Dr. Karl Thomae G.m.b.H. subsidiary, and Hoechst's Behringwerke subsidiary was an attempt to expand the market for blood-clot drugs in general.@@@@1@34@@oe@2-2-2013
20463003@unknown@formal@none@1@S@A Genentech spokeswoman said the agreement calls for Hoechst to promote TPA for heart patients and streptokinase for other clot-reducing purposes.@@@@1@21@@oe@2-2-2013
20464001@unknown@formal@none@1@S@Investors in the over-the-counter market dumped banking and insurance issues, sending the Nasdaq composite index lower for the third consecutive session.@@@@1@21@@oe@2-2-2013
20464002@unknown@formal@none@1@S@All Nasdaq industry indexes finished lower, with financial issues hit the hardest.@@@@1@12@@oe@2-2-2013
20464003@unknown@formal@none@1@S@Despite some early computer-guided program buying, the Nasdaq composite fell 1.39 to 451.37.@@@@1@13@@oe@2-2-2013
20464004@unknown@formal@none@1@S@The OTC market now has declined in eight of the past 11 sessions.@@@@1@13@@oe@2-2-2013
20464005@unknown@formal@none@1@S@The Nasdaq bank index fell 5.00 to 432.61, while the insurance index fell 3.56 to 528.56, and the "other finance" index dropped 3.27 to 529.32.@@@@1@25@@oe@2-2-2013
20464006@unknown@formal@none@1@S@The largest financial issues, as measured by the Nasdaq financial index, tumbled 3.23 to@@@@1@14@@oe@2-2-2013
20464007@unknown@formal@none@1@S@Meanwhile, the index of the 100 biggest non-financial stocks, the Nasdaq 100, gained 0.47 to 438.15.@@@@1@16@@oe@2-2-2013
20464008@unknown@formal@none@1@S@Profit-taking accounted for much of the slide in OTC stock prices, according to David Mills, senior vice president of Boston Company Advisers.@@@@1@22@@oe@2-2-2013
20464009@unknown@formal@none@1@S@He said many portfolio managers, whose year-end bonuses are tied to annual performance, are selling now rather than risk seeing their gains erode further.@@@@1@24@@oe@2-2-2013
20464010@unknown@formal@none@1@S@"The profit locking-in is definitely going on," said Mr. Mills, whose firm manages $600 million for Boston Co.@@@@1@18@@oe@2-2-2013
20464011@unknown@formal@none@1@S@Tax-loss sellers, those investors who sell loss-making stocks so they can deduct their losses from this year's income, are also getting out, Mr. Mills said.@@@@1@25@@oe@2-2-2013
20464012@unknown@formal@none@1@S@That's helping put pressure on both the market's winners and its losers.@@@@1@12@@oe@2-2-2013
20464013@unknown@formal@none@1@S@"The stocks that have been the best are having big pullbacks, and the ones that have been the worst are getting clobbered," Mr. Mills said.@@@@1@25@@oe@2-2-2013
20464014@unknown@formal@none@1@S@He expects the market to sink further and to reach a low sometime next month or in December.@@@@1@18@@oe@2-2-2013
20464015@unknown@formal@none@1@S@The selling by money managers and individual investors is turning traders bearish as well.@@@@1@14@@oe@2-2-2013
20464016@unknown@formal@none@1@S@"We are advising a lot of our clients to make moves that make sense to them, rather than waiting until the last minute, because things have been so volatile," said William Sulya, head of OTC trading at A.G. Edwards & Sons in St. Louis.@@@@1@44@@oe@2-2-2013
20464017@unknown@formal@none@1@S@Ralph Costanza, head of the OTC trading department at Smith Barney, Harris Upham, said many market players are awaiting some resolution of the current debate over program trading.@@@@1@28@@oe@2-2-2013
20464018@unknown@formal@none@1@S@Much of the market's recent volatility has been blamed on this large-scale computerized trading technique that can send stock prices surging or plummeting in a matter of minutes.@@@@1@28@@oe@2-2-2013
20464019@unknown@formal@none@1@S@The problem has been particularly damaging to the OTC market, traditionally a base for the small investor.@@@@1@17@@oe@2-2-2013
20464020@unknown@formal@none@1@S@Weisfield's surged 14 to 53 after agreeing in principle to be acquired by a unit of Ratners Group for $50 a share.@@@@1@22@@oe@2-2-2013
20464021@unknown@formal@none@1@S@The stock jumped 9 1/2 Friday, when the company announced it was in takeover talks.@@@@1@15@@oe@2-2-2013
20464022@unknown@formal@none@1@S@Ratners and Weisfield's said they expect to sign definitive agreements shortly and to complete the transaction by Dec. 15.@@@@1@19@@oe@2-2-2013
20464023@unknown@formal@none@1@S@Mid-State Federal Savings Bank advanced 1 1/2 to 20 1/4 after it said it is in talks with a possible acquirer.@@@@1@21@@oe@2-2-2013
20464024@unknown@formal@none@1@S@The bank said the talks resulted from solicitations by its financial adviser.@@@@1@12@@oe@2-2-2013
20464025@unknown@formal@none@1@S@Jaguar assumed its recently customary place on the OTC most active list as its American depository receipts gained 1/4 to 11 7/8 on volume of 1.2 million shares and Daimler-Benz joined the list of companies interested in the British car maker.@@@@1@41@@oe@2-2-2013
20464026@unknown@formal@none@1@S@Daimler said it has had talks with Jaguar about possible joint ventures.@@@@1@12@@oe@2-2-2013
20464027@unknown@formal@none@1@S@Meanwhile, General Motors and Ford Motor continue their pursuit of the company.@@@@1@12@@oe@2-2-2013
20464028@unknown@formal@none@1@S@Ford has acquired more than 13% of Jaguar's shares, and GM has received U.S. regulatory clearance to buy 15%.@@@@1@19@@oe@2-2-2013
20464029@unknown@formal@none@1@S@ShowBiz Pizza Time gained 1 1/2 to 13.@@@@1@8@@oe@2-2-2013
20464030@unknown@formal@none@1@S@The company reported third-quarter operating profit of 37 cents a share, compared with 12 cents a share a year earlier.@@@@1@20@@oe@2-2-2013
20464031@unknown@formal@none@1@S@A third-quarter charge of $3.5 million related to planned restaurant closings resulted in a net loss for the quarter.@@@@1@19@@oe@2-2-2013
20464032@unknown@formal@none@1@S@Employers Casualty, which reported a $53.9 million third-quarter loss late Friday, fell 2 1/4 to 13 3/4.@@@@1@17@@oe@2-2-2013
20464033@unknown@formal@none@1@S@The loss was largely due to a $55.2 million addition to reserves.@@@@1@12@@oe@2-2-2013
20464034@unknown@formal@none@1@S@Employers Casualty had a loss of $3.6 million in the year-earlier quarter.@@@@1@12@@oe@2-2-2013
20464035@unknown@formal@none@1@S@Old Stone fell 1 5/8 to 13 1/2.@@@@1@8@@oe@2-2-2013
20464036@unknown@formal@none@1@S@Late Friday, the company reported a loss of $51.3 million for the third quarter after earning $9.2 million a year before.@@@@1@21@@oe@2-2-2013
20464037@unknown@formal@none@1@S@The loss came after a $23.3 million addition to loan-loss reserves.@@@@1@11@@oe@2-2-2013
20464038@unknown@formal@none@1@S@The bank made a $4.5 million provision in the 1988 quarter.@@@@1@11@@oe@2-2-2013
20464039@unknown@formal@none@1@S@Old Stone repeated projections that it will be profitable for the fourth quarter and will about break even for the year.@@@@1@21@@oe@2-2-2013
20464040@unknown@formal@none@1@S@Abraham Lincoln Federal Savings Bank sank 4 to 13 1/2 after announcing a shakeup that will change senior management and reorganize the bank's mortgage business as a separate unit.@@@@1@29@@oe@2-2-2013
20464041@unknown@formal@none@1@S@The bank also said it will establish a loan-loss reserve of $2.5 million to $4 million against a construction loan that is in default.@@@@1@24@@oe@2-2-2013
20464042@unknown@formal@none@1@S@The bank, which previously said it was for sale, said it has received no offers and that its board will review whether to continue soliciting bids.@@@@1@26@@oe@2-2-2013
20465001@unknown@formal@none@1@S@Medical scientists are starting to uncover a handful of genes which, if damaged, unleash the chaotic growth of cells that characterizes cancer.@@@@1@22@@oe@2-2-2013
20465002@unknown@formal@none@1@S@Scientists say the discovery of these genes in recent months is painting a new and startling picture of how cancer develops.@@@@1@21@@oe@2-2-2013
20465003@unknown@formal@none@1@S@An emerging understanding of the genes is expected to produce an array of new strategies for future cancer treatment and prevention.@@@@1@21@@oe@2-2-2013
20465004@unknown@formal@none@1@S@That is for the future.@@@@1@5@@oe@2-2-2013
20465005@unknown@formal@none@1@S@Already, scientists are developing tests based on the newly identified genes that, for the first time, can predict whether an otherwise healthy individual is likely to get cancer.@@@@1@28@@oe@2-2-2013
20465006@unknown@formal@none@1@S@"It's a super-exciting set of discoveries," says Bert Vogelstein, a Johns Hopkins University researcher who has just found a gene pivotal to the triggering of colon cancer.@@@@1@27@@oe@2-2-2013
20465007@unknown@formal@none@1@S@"Only a decade ago cancer was a black box about which we knew nothing at the molecular level.@@@@1@18@@oe@2-2-2013
20465008@unknown@formal@none@1@S@Today, we know that the accumulation of several of these altered genes can initiate a cancer and, then, propel it into a deadly state."@@@@1@24@@oe@2-2-2013
20465009@unknown@formal@none@1@S@Scientists call the new class of genes tumor-suppressors, or simply anti-cancer genes.@@@@1@12@@oe@2-2-2013
20465010@unknown@formal@none@1@S@When functioning normally, they make proteins that hold a cell's growth in check.@@@@1@13@@oe@2-2-2013
20465011@unknown@formal@none@1@S@But if the genes are damaged -- perhaps by radiation, a chemical or through a chance accident in cell division -- their growth-suppressing proteins no longer work, and cells normally under control turn malignant.@@@@1@34@@oe@2-2-2013
20465012@unknown@formal@none@1@S@The newly identified genes differ from a family of genes discovered in the early 1980s called oncogenes.@@@@1@17@@oe@2-2-2013
20465013@unknown@formal@none@1@S@Oncogenes must be present for a cell to become malignant, but researchers have found them in normal as well as in cancerous cells, suggesting that oncogenes don't cause cancer by themselves.@@@@1@31@@oe@2-2-2013
20465014@unknown@formal@none@1@S@In recent months, researchers have come to believe the two types of cancer genes work in concert: An oncogene may turn proliferating cells malignant only after the tumor-suppressor gene has been damaged.@@@@1@32@@oe@2-2-2013
20465015@unknown@formal@none@1@S@Like all genes, tumor-suppressor genes are inherited in two copies, one from each parent.@@@@1@14@@oe@2-2-2013
20465016@unknown@formal@none@1@S@Either copy can make the proteins needed to control cell growth, so for cancer to arise, both copies must be impaired.@@@@1@21@@oe@2-2-2013
20465017@unknown@formal@none@1@S@A person who is born with one defective copy of a suppressor gene, or in whom one copy is damaged early in life, is especially prone to cancer because he need only lose the other copy for a cancer to develop.@@@@1@41@@oe@2-2-2013
20465018@unknown@formal@none@1@S@Emerging genetic tests will be able to spot such cancer-susceptible individuals, ushering in what some scientists believe is a new age of predictive cancer diagnosis.@@@@1@25@@oe@2-2-2013
20465019@unknown@formal@none@1@S@Bill and Bonnie Quinlan are among the first beneficiaries of the new findings.@@@@1@13@@oe@2-2-2013
20465020@unknown@formal@none@1@S@The Dedham, Mass., couple knew even before Bonnie became pregnant in 1987 that any child of theirs had a 50% chance of being at risk for retinoblastoma, an eye cancer that occurs about once every 20,000 births.@@@@1@37@@oe@2-2-2013
20465021@unknown@formal@none@1@S@Mr. Quinlan, 30 years old, knew he carried a damaged gene, having lost an eye to the rare tumor when he was only two months old -- after his mother had suffered the same fate when she was a baby.@@@@1@40@@oe@2-2-2013
20465022@unknown@formal@none@1@S@Because of the isolation of the retinoblastoma tumor-suppressor gene, it became possible last January to find out what threat the Quinlan baby faced.@@@@1@23@@oe@2-2-2013
20465023@unknown@formal@none@1@S@A test using new "genetic probes" showed that little Will Quinlan had not inherited a damaged retinoblastoma supressor gene and, therefore, faced no more risk than other children of developing the rare cancer.@@@@1@33@@oe@2-2-2013
20465024@unknown@formal@none@1@S@"It made our New Year," says Mr. Quinlan.@@@@1@8@@oe@2-2-2013
20465025@unknown@formal@none@1@S@This test was the first to predict reliably whether an individual could expect to develop cancer.@@@@1@16@@oe@2-2-2013
20465026@unknown@formal@none@1@S@Equally important, the initial discovery of the gene that controls retinal cell growth, made by a Boston doctor named Thaddeus Dryja, has opened a field of cancer study, which in recent months has exploded.@@@@1@34@@oe@2-2-2013
20465027@unknown@formal@none@1@S@"It turns out that studying a tragic but uncommon tumor made possible some fundamental insights about the most basic workings of cancer," says Samuel Broder, director of the National Cancer Institute.@@@@1@31@@oe@2-2-2013
20465028@unknown@formal@none@1@S@"All this may not be obvious to the public, which is concerned about advances in treatment, but I am convinced this basic research will begin showing results there soon."@@@@1@29@@oe@2-2-2013
20465029@unknown@formal@none@1@S@To date, scientists have fingered two of these cancer-suppressors.@@@@1@9@@oe@2-2-2013
20465030@unknown@formal@none@1@S@Dr. Dryja made his retinoblastoma discovery in 1986.@@@@1@8@@oe@2-2-2013
20465031@unknown@formal@none@1@S@Then last spring, researchers reported finding a gene called p53 which, if impaired, turns healthy colon cells cancerous.@@@@1@18@@oe@2-2-2013
20465032@unknown@formal@none@1@S@Soon after that report, two other research teams uncovered evidence that the same damaged p53 gene is present in tissue from lung and breast cancers.@@@@1@25@@oe@2-2-2013
20465033@unknown@formal@none@1@S@Colon, lung and breast cancers are the most common and lethal forms of the disease, collectively killing almost 200,000 Americans a year.@@@@1@22@@oe@2-2-2013
20465034@unknown@formal@none@1@S@Right now about a dozen laboratories, in the U.S., Canada and Britain, are racing to unmask other suspected tumor-suppressing genes.@@@@1@20@@oe@2-2-2013
20465035@unknown@formal@none@1@S@They have about seven candidates.@@@@1@5@@oe@2-2-2013
20465036@unknown@formal@none@1@S@Researchers say the inactivation of tumor-suppressor genes, alone or in combination, appears crucial to the development of such scourges as cancer of the brain, the skin, kidney, prostate, and cervix.@@@@1@30@@oe@2-2-2013
20465037@unknown@formal@none@1@S@There is evidence that if people inherit defective versions of these genes, they are especially prone to cancer, perhaps explaining, finally, why some cancers seem to haunt certain families.@@@@1@29@@oe@2-2-2013
20465038@unknown@formal@none@1@S@The story of tumor-suppressor genes goes back to the 1970s, when a pediatrician named Alfred G. Knudson Jr. proposed that retinoblastoma stemmed from two separate genetic defects.@@@@1@27@@oe@2-2-2013
20465039@unknown@formal@none@1@S@He theorized that in the eye cancer, an infant inherited a damaged copy of a gene from one parent and a normal copy from the other.@@@@1@26@@oe@2-2-2013
20465040@unknown@formal@none@1@S@The tumor, he suggested, developed when the second, normal copy also was damaged.@@@@1@13@@oe@2-2-2013
20465041@unknown@formal@none@1@S@But there was no way to prove Dr. Knudson's "two-hit" theory.@@@@1@11@@oe@2-2-2013
20465042@unknown@formal@none@1@S@Back then, scientists had no way of ferreting out specific genes, but under a microscope they could see the 23 pairs of chromosomes in the cells that contain the genes.@@@@1@30@@oe@2-2-2013
20465043@unknown@formal@none@1@S@Occasionally, gross chromosome damage was visible.@@@@1@6@@oe@2-2-2013
20465044@unknown@formal@none@1@S@Dr. Knudson found that some children with the eye cancer had inherited a damaged copy of chromosome No. 13 from a parent who had had the disease.@@@@1@27@@oe@2-2-2013
20465045@unknown@formal@none@1@S@Under a microscope he could actually see that a bit of chromosome 13 was missing.@@@@1@15@@oe@2-2-2013
20465046@unknown@formal@none@1@S@He assumed the missing piece contained a gene or genes whose loss had a critical role in setting off the cancer.@@@@1@21@@oe@2-2-2013
20465047@unknown@formal@none@1@S@But he didn't know which gene or genes had disappeared.@@@@1@10@@oe@2-2-2013
20465048@unknown@formal@none@1@S@Then, a scientific team led by molecular geneticist Webster Cavenee, then at the University of Utah, found the answer.@@@@1@19@@oe@2-2-2013
20465049@unknown@formal@none@1@S@The team used a battery of the newly developed "gene probes," snippets of genetic material that can track a gene's presence in a cell.@@@@1@24@@oe@2-2-2013
20465050@unknown@formal@none@1@S@By analyzing cells extracted from eye tumors, they found defects in the second copy of chromosome 13 in the exact area as in the first copy of the chromosome.@@@@1@29@@oe@2-2-2013
20465051@unknown@formal@none@1@S@The finding riveted medicine.@@@@1@4@@oe@2-2-2013
20465052@unknown@formal@none@1@S@It was the first time anyone had showed that the loss of both copies of the same gene could lead to the eruption of a cancer.@@@@1@26@@oe@2-2-2013
20465053@unknown@formal@none@1@S@"It was extraordinarily satisfying," says Dr. Knudson, now at Fox Chase Cancer Research Center in Philadelphia.@@@@1@16@@oe@2-2-2013
20465054@unknown@formal@none@1@S@"I was convinced that what was true of retinoblastoma would be true for all cancers."@@@@1@15@@oe@2-2-2013
20465055@unknown@formal@none@1@S@It was an audacious claim.@@@@1@5@@oe@2-2-2013
20465056@unknown@formal@none@1@S@But in Baltimore, Dr. Vogelstein, a young molecular biologist at Johns Hopkins Medical School, believed Dr. Knudson was right, and set out to repeat the Cavenee experiment in cells from other cancers.@@@@1@32@@oe@2-2-2013
20465057@unknown@formal@none@1@S@His was one of two research teams in 1984 to report dual chromosome losses for a rare childhood cancer of the kidney called Wilm's tumor.@@@@1@25@@oe@2-2-2013
20465058@unknown@formal@none@1@S@Dr. Vogelstein next turned his attention to colon cancer, the second biggest cancer killer in the U.S. after lung cancer.@@@@1@20@@oe@2-2-2013
20465059@unknown@formal@none@1@S@He believed colon cancer might also arise from multiple "hits" on cancer suppressor genes, because it often seems to develop in stages.@@@@1@22@@oe@2-2-2013
20465060@unknown@formal@none@1@S@It often is preceded by the development of polyps in the bowel, which in some cases become increasingly malignant in identifiable stages -- progressing from less severe to deadly -- as though a cascade of genetic damage might be occurring.@@@@1@40@@oe@2-2-2013
20465061@unknown@formal@none@1@S@Dr. Vogelstein and a doctoral student, Eric Fearon, began months of tedious and often frustrating probing of the chromosomes searching for signs of genetic damage.@@@@1@25@@oe@2-2-2013
20465062@unknown@formal@none@1@S@They began uncovering a confusing variety of genetic deletions, some existing only in benign polyps, others in malignant cells and many in both polyps and malignant cells.@@@@1@27@@oe@2-2-2013
20465063@unknown@formal@none@1@S@Gradually, a coherent picture of cancer development emerged.@@@@1@8@@oe@2-2-2013
20465064@unknown@formal@none@1@S@If both copies of a certain gene were knocked out, benign polyps would develop.@@@@1@14@@oe@2-2-2013
20465065@unknown@formal@none@1@S@If both copies of a second gene were then deleted, the polyps would progress to malignancy.@@@@1@16@@oe@2-2-2013
20465066@unknown@formal@none@1@S@It was clear that more than one gene had to be damaged for colon cancer to develop.@@@@1@17@@oe@2-2-2013
20465067@unknown@formal@none@1@S@Their report galvanized other molecular biologists.@@@@1@6@@oe@2-2-2013
20465068@unknown@formal@none@1@S@"It was the confirming evidence we all needed that {gene} losses were critical to the development of a common tumor," says Ray White at Howard Hughes Medical Institute in Salt Lake City.@@@@1@32@@oe@2-2-2013
20465069@unknown@formal@none@1@S@But Dr. Vogelstein had yet to nail the identity of the gene that, if damaged, flipped a colon cell into full-blown malignancy.@@@@1@22@@oe@2-2-2013
20465070@unknown@formal@none@1@S@They focused on chromosome 17.@@@@1@5@@oe@2-2-2013
20465071@unknown@formal@none@1@S@For months the Johns Hopkins researchers, using gene probes, experimentally crawled down the length of chromosome 17, looking for the smallest common bit of genetic material lost in all tumor cells.@@@@1@31@@oe@2-2-2013
20465072@unknown@formal@none@1@S@Such a piece of DNA would probably constitute a gene.@@@@1@10@@oe@2-2-2013
20465073@unknown@formal@none@1@S@When they found it last winter, Dr. Vogelstein was dubious that the search was over.@@@@1@15@@oe@2-2-2013
20465074@unknown@formal@none@1@S@His doubts stemmed from the fact that several years earlier a Princeton University researcher, Arnold Levine, had found in experiments with mice that a gene called p53 could transform normal cells into cancerous ones.@@@@1@34@@oe@2-2-2013
20465075@unknown@formal@none@1@S@The deletion Dr. Vogelstein found was in exactly the same spot as p53.@@@@1@13@@oe@2-2-2013
20465076@unknown@formal@none@1@S@But Mr. Levine had said the p53 gene caused cancer by promoting growth, whereas the Johns Hopkins scientists were looking for a gene that suppressed growth.@@@@1@26@@oe@2-2-2013
20465077@unknown@formal@none@1@S@Despite that, when the Johns Hopkins scientists compared the gene they had found in the human cancer cells with the Mr. Levine's p53 gene they found the two were identical; it turned out that in Mr. Levine's cancer studies, he had unknowingly been observing a damaged form of p53 -- a cancer-suppressing gene.@@@@1@53@@oe@2-2-2013
20465078@unknown@formal@none@1@S@The discovery "suddenly puts an obscure gene right in the cockpit of cancer formation," says Robert Weinberg, a leader in cancer-gene research at Whitehead Institute in Cambridge, Mass.@@@@1@28@@oe@2-2-2013
20465079@unknown@formal@none@1@S@Evidence now is emerging that the p53 suppressor gene is involved in other cancers, too.@@@@1@15@@oe@2-2-2013
20465080@unknown@formal@none@1@S@Researchers in Edinburgh, Scotland, have found that in 23 of 38 breast tumors, one copy of chromosome 17 was mutated at the spot where gene p53 lies.@@@@1@27@@oe@2-2-2013
20465081@unknown@formal@none@1@S@The scientists say that since breast cancer often strikes multiple members of certain families, the gene, when inherited in a damaged form, may predispose women to the cancer.@@@@1@28@@oe@2-2-2013
20465082@unknown@formal@none@1@S@The p53 gene has just been implicated in lung cancer.@@@@1@10@@oe@2-2-2013
20465083@unknown@formal@none@1@S@In a report out last week, John Minna and colleagues at the National Cancer Institute say that about half the cells taken from lung cancer tissue they tested are missing this gene.@@@@1@32@@oe@2-2-2013
20465084@unknown@formal@none@1@S@There also are reports from several labs, as yet unpublished, of missing p53 genes in tissue taken from kidney, brain and skin cancers.@@@@1@23@@oe@2-2-2013
20465085@unknown@formal@none@1@S@At the same time, the Johns Hopkins team and others are rushing to pinpoint other tumor-suppressor genes.@@@@1@17@@oe@2-2-2013
20465086@unknown@formal@none@1@S@Dr. Vogelstein hopes soon to isolate one on chromosome 18, also involved in colon cancer.@@@@1@15@@oe@2-2-2013
20465087@unknown@formal@none@1@S@Ray White in Utah and Walter Bodmer, a researcher in Great Britain, are close to finding another gene involved with some types of colon cancer, thought to be on chromosome 5.@@@@1@31@@oe@2-2-2013
20465088@unknown@formal@none@1@S@Dr. Minna believes people who inherit a defective gene somewhere on one of their two copies of chromosome 3 are especially prone to lung cancer.@@@@1@25@@oe@2-2-2013
20465089@unknown@formal@none@1@S@Recently, he and others reported that the retinoblastoma suppressor gene may also be involved in some lung cancers, as well as several other more common cancers, too.@@@@1@27@@oe@2-2-2013
20465090@unknown@formal@none@1@S@Where these discoveries will lead, scientists can only speculate.@@@@1@9@@oe@2-2-2013
20465091@unknown@formal@none@1@S@Already two major pharmaceutical companies, the Squibb unit of Bristol-Myers Squibb Co. and Hoffmann-La Roche Inc., are collaborating with gene hunters to turn the anticipated cascade of discoveries into predictive tests and, maybe, new therapies.@@@@1@35@@oe@2-2-2013
20465092@unknown@formal@none@1@S@Some researchers say new cancer drugs to slow or reverse tumor growth may be based on the suppressor proteins normally produced by the genes.@@@@1@24@@oe@2-2-2013
20465093@unknown@formal@none@1@S@The idea would be to administer to patients the growth-controlling proteins made by healthy versions of the damaged genes.@@@@1@19@@oe@2-2-2013
20465094@unknown@formal@none@1@S@It may even be possible to replace defective genes with healthy versions, though no one has come close to doing that so far.@@@@1@23@@oe@2-2-2013
20465095@unknown@formal@none@1@S@In any case, says Dr. Minna of the National Cancer Institute, "We're witnessing the discovery of one of the most important steps in the genesis of cancer.@@@@1@27@@oe@2-2-2013
20466001@unknown@formal@none@1@S@Many investors give Michael Foods about as much chance of getting it together as Humpty Dumpty.@@@@1@16@@oe@2-2-2013
20466002@unknown@formal@none@1@S@But now at least there's a glimmer of hope for the stock.@@@@1@12@@oe@2-2-2013
20466003@unknown@formal@none@1@S@Burger King, which breaks thousands of fresh eggs each morning, is quietly switching over to an alternative egg product made by Michael Foods.@@@@1@23@@oe@2-2-2013
20466004@unknown@formal@none@1@S@Known as Easy Eggs, the product has disappointed investors.@@@@1@9@@oe@2-2-2013
20466005@unknown@formal@none@1@S@When the company this month announced lower-than-forecast sales of Easy Eggs, the stock dropped nearly 19%.@@@@1@16@@oe@2-2-2013
20466006@unknown@formal@none@1@S@Michael won't confirm the identities of any Easy Egg customers, nor will it say much of anything else.@@@@1@18@@oe@2-2-2013
20466007@unknown@formal@none@1@S@Two Minneapolis shareholder suits in the past month have accused top officers of making "various untrue statements."@@@@1@17@@oe@2-2-2013
20466008@unknown@formal@none@1@S@These federal-court suits accuse the officers of failing to disclose that Easy Eggs were unlikely to sell briskly enough to justify all of Michael's production capacity.@@@@1@26@@oe@2-2-2013
20466009@unknown@formal@none@1@S@But at least Burger King has signed on, and says that by year end it won't be using any shell eggs.@@@@1@21@@oe@2-2-2013
20466010@unknown@formal@none@1@S@The Miami fast-food chain, owned by Grand Metropolitan of Britain, expects to consume roughly 34 million pounds of liquefied eggs annually.@@@@1@21@@oe@2-2-2013
20466011@unknown@formal@none@1@S@So there is reason to believe that Michael's hopes for a bacteria-free, long-shelf-life egg weren't all hype.@@@@1@17@@oe@2-2-2013
20466012@unknown@formal@none@1@S@(Easy Eggs are pasteurized in a heat-using process.)@@@@1@8@@oe@2-2-2013
20466013@unknown@formal@none@1@S@Still, caution is advisable.@@@@1@4@@oe@2-2-2013
20466014@unknown@formal@none@1@S@A company official says Michael's break-even volume on Easy Eggs is around 60 million pounds a year -- apparently well above current shipments and a far cry from what the company once suggested was a billion-pound market waiting for such a product.@@@@1@42@@oe@2-2-2013
20466015@unknown@formal@none@1@S@Perhaps to debunk the analysts' talk of over-capacity, Michael today will take some of the skeptics on a tour of its new Gaylord, Minn., plant.@@@@1@25@@oe@2-2-2013
20466016@unknown@formal@none@1@S@There has been no announcement of the Burger King arrangement by either party, possibly for fear that McDonald's and other fast-food rivals would seize on it in scornful advertising.@@@@1@29@@oe@2-2-2013
20466017@unknown@formal@none@1@S@But Burger King operators independently confirm using Michael's product.@@@@1@9@@oe@2-2-2013
20466018@unknown@formal@none@1@S@Other institutional users reportedly include Marriott, which is moving away from fresh eggs on a region-by-region basis.@@@@1@17@@oe@2-2-2013
20466019@unknown@formal@none@1@S@The extent of Marriott's use isn't known, and Marriott officials couldn't be reached for comment.@@@@1@15@@oe@2-2-2013
20466020@unknown@formal@none@1@S@Michael Foods has attracted a good many short-sellers, the people who sell borrowed shares in a bet that a stock price will drop and allow the return of cheaper shares to the lender.@@@@1@33@@oe@2-2-2013
20466021@unknown@formal@none@1@S@Many analysts question management's credibility.@@@@1@5@@oe@2-2-2013
20466022@unknown@formal@none@1@S@"The stock, in my opinion, is going to go lower, not only because of disappointing earnings but {because} the credibility gap is certainly not closing," says L. Craig Carver of Dain Bosworth.@@@@1@32@@oe@2-2-2013
20466023@unknown@formal@none@1@S@Mr. Carver says that at a recent Dain-sponsored conference in New York, he asked Michael's chief executive officer if the fourth quarter would be down.@@@@1@25@@oe@2-2-2013
20466024@unknown@formal@none@1@S@The CEO, Richard G. Olson, replied "yes," but wouldn't elaborate.@@@@1@10@@oe@2-2-2013
20466025@unknown@formal@none@1@S@(The company didn't put out a public announcement.@@@@1@8@@oe@2-2-2013
20466026@unknown@formal@none@1@S@A spokesman said later that Mr. Olson was being "conservative" in his estimate.@@@@1@13@@oe@2-2-2013
20466027@unknown@formal@none@1@S@But the spokesman added that while Michael will earn less than last year's $1.20 a share, it thinks Street estimates of $1 or so are low.)@@@@1@26@@oe@2-2-2013
20466028@unknown@formal@none@1@S@Analyst Robin Young of John Kinnard & Co., Minneapolis, calls himself "the last remaining bull on the stock."@@@@1@18@@oe@2-2-2013
20466029@unknown@formal@none@1@S@He argues that Michael Foods is misunderstood: "This is a growth company in the packaged food industry -- a rare breed, like finding a white rhino."@@@@1@26@@oe@2-2-2013
20466030@unknown@formal@none@1@S@Earnings aren't keeping pace, he says, because of heavy investments in the egg technologies and drought-related costs in its potato business.@@@@1@21@@oe@2-2-2013
20466031@unknown@formal@none@1@S@Mr. Carver, however, believes the company's egg product won't help the bottom line in the short run, even though it "makes sense -- it's more convenient" and justifies its price, which is higher than shell eggs, because of health and sanitation concerns.@@@@1@42@@oe@2-2-2013
20466032@unknown@formal@none@1@S@Prospective competition is one problem.@@@@1@5@@oe@2-2-2013
20466033@unknown@formal@none@1@S@Last week a closely held New Jersey concern, Papetti High-Grade Egg Products Co., rolled out an aseptically packaged liquefied item called Table Ready.@@@@1@23@@oe@2-2-2013
20466034@unknown@formal@none@1@S@Company President Steve Papetti says Marriott will be among his clients as well.@@@@1@13@@oe@2-2-2013
20466035@unknown@formal@none@1@S@Michael shares closed at 13 3/4 yesterday in national over-the-counter trading.@@@@1@11@@oe@2-2-2013
20466036@unknown@formal@none@1@S@Says New York-based short seller Mark Cohodes, "In my mind this is a $7 stock."@@@@1@15@@oe@2-2-2013
20466037@unknown@formal@none@1@S@Michael late yesterday announced a $3.8 million stock buy-back program.@@@@1@10@@oe@2-2-2013
20466038@unknown@formal@none@1@S@Michael, which also processes potatoes, still relies on spuds for about a fourth of its sales and nearly half its pretax profit.@@@@1@22@@oe@2-2-2013
20466039@unknown@formal@none@1@S@But dry growing conditions in the Red River Valley of Minnesota and North Dakota are pushing spot prices of potatoes beyond what Michael contracted to pay last spring.@@@@1@28@@oe@2-2-2013
20466040@unknown@formal@none@1@S@Company lawyers recently sent letters to growers saying that Michael "would take very seriously any effort . . . to divert its contracted-for potatoes to other outlets."@@@@1@27@@oe@2-2-2013
20466041@unknown@formal@none@1@S@Still, analysts believe that profit margins in the potato business will be down again this year.@@@@1@16@@oe@2-2-2013
20467001@unknown@formal@none@1@S@Pierre Peladeau, a Canadian newspaper publisher little-known in the U.S., figures to become a big player in North American printing -- and his ambitions don't end there.@@@@1@27@@oe@2-2-2013
20467002@unknown@formal@none@1@S@Yesterday, Quebecor Inc., a Montreal printing, publishing and forest-products company 53%-owned by Mr. Peladeau, agreed to acquire Maxwell Communication Corp.'s U.S. printing subsidiary, Maxwell Graphics Inc., for $500 million in cash and securities.@@@@1@33@@oe@2-2-2013
20467003@unknown@formal@none@1@S@The purchase, expected to be completed by year end, will make Quebecor the second-largest commercial printer in North America, behind only R.R. Donnelley & Sons Co., Chicago.@@@@1@27@@oe@2-2-2013
20467004@unknown@formal@none@1@S@The printing customers that Quebecor will gain through Maxwell Graphics include the Sunday newspaper supplement Parade, Time, Sports Illustrated and TV Guide.@@@@1@22@@oe@2-2-2013
20467005@unknown@formal@none@1@S@But the transaction is just Mr. Peladeau's latest step in a larger design: to build Quebecor through acquisitions into an integrated paper, publishing and printing concern with a reach throughout North America.@@@@1@32@@oe@2-2-2013
20467006@unknown@formal@none@1@S@He already has achieved vertical integration on a limited scale: Quebecor can put a weekly newspaper on almost any Quebec doorstep without using outside help, from chopping down the tree to making the newsprint to flinging it up onto the porch.@@@@1@41@@oe@2-2-2013
20467007@unknown@formal@none@1@S@Analysts say Quebecor's purchase is part of a trend toward consolidation in the North American printing industry.@@@@1@17@@oe@2-2-2013
20467008@unknown@formal@none@1@S@Along with Donnelley, says Jacques Massicotte, an analyst with Nesbitt Thomson Deacon Inc. in Montreal, "Quebecor has positioned itself as one of the two key players."@@@@1@26@@oe@2-2-2013
20467009@unknown@formal@none@1@S@He adds: "I think this is a great strategic move for Quebecor.@@@@1@12@@oe@2-2-2013
20467010@unknown@formal@none@1@S@They are buying an operation that is running well."@@@@1@9@@oe@2-2-2013
20467011@unknown@formal@none@1@S@Mr. Peladeau says he isn't trying to catch up to Donnelley, which has annual sales of over $3 billion.@@@@1@19@@oe@2-2-2013
20467012@unknown@formal@none@1@S@"Size doesn't matter," Mr. Peladeau says.@@@@1@6@@oe@2-2-2013
20467013@unknown@formal@none@1@S@"What counts is the bottom line."@@@@1@6@@oe@2-2-2013
20467014@unknown@formal@none@1@S@Some of Mr. Peladeau's ventures, including an earlier push into the U.S. market, haven't paid off on the bottom line.@@@@1@20@@oe@2-2-2013
20467015@unknown@formal@none@1@S@Quebecor started the Philadelphia Journal, a daily tabloid, in 1977 and closed it three years later.@@@@1@16@@oe@2-2-2013
20467016@unknown@formal@none@1@S@The venture cost Quebecor $12 million, Mr. Peladeau says.@@@@1@9@@oe@2-2-2013
20467017@unknown@formal@none@1@S@More recently, some former Quebecor executives started their own printing company, specializing in printing and distributing advertising circulars.@@@@1@18@@oe@2-2-2013
20467018@unknown@formal@none@1@S@Quebecor still lags in the Quebec circulars market, while Mr. Peladeau's former employees are expanding across Canada.@@@@1@17@@oe@2-2-2013
20467019@unknown@formal@none@1@S@Mr. Peladeau took his first big gamble 25 years ago, when he took advantage of a strike at La Presse, then Montreal's dominant French-language newspaper, to launch the Journal de Montreal.@@@@1@31@@oe@2-2-2013
20467020@unknown@formal@none@1@S@The tabloid's circulation soared to 80,000, but plunged to under 10,000 when the La Presse strike ended.@@@@1@17@@oe@2-2-2013
20467021@unknown@formal@none@1@S@Still, Mr. Peladeau stuck with the venture.@@@@1@7@@oe@2-2-2013
20467022@unknown@formal@none@1@S@Now the Journal, flush with ads and hugely profitable, is even with La Presse in weekend circulation and outsells it 3 to 2 every weekday.@@@@1@25@@oe@2-2-2013
20467023@unknown@formal@none@1@S@Mr. Peladeau has never made any apologies for publishing the tabloid, a brash mix of crime and sports.@@@@1@18@@oe@2-2-2013
20467024@unknown@formal@none@1@S@"I've read Balzac," he answers critics.@@@@1@6@@oe@2-2-2013
20467025@unknown@formal@none@1@S@"It's tabloid news from A to Z."@@@@1@7@@oe@2-2-2013
20467026@unknown@formal@none@1@S@Quebecor also publishes a second tabloid in Montreal, the struggling 18-month-old Montreal Daily News; dailies in Quebec City and Winnipeg, Manitoba; and dozens of weeklies covering most of Quebec.@@@@1@29@@oe@2-2-2013
20467027@unknown@formal@none@1@S@A series of recent acquisitions made it the dominant magazine publisher in Quebec.@@@@1@13@@oe@2-2-2013
20467028@unknown@formal@none@1@S@After a recent merger, it is also the only province-wide distributor of magazines and newspapers in Quebec.@@@@1@17@@oe@2-2-2013
20467029@unknown@formal@none@1@S@Finally, with Maxwell Communication, the company controls 54% of Donohue Inc., a Quebec City pulp and paper concern.@@@@1@18@@oe@2-2-2013
20467030@unknown@formal@none@1@S@In yesterday's accord, Quebecor agreed to pay $400 million in cash for Maxwell Graphics, and to give Maxwell Communication a 20% stake, valued at $100 million, in Quebecor's new printing subsidiary.@@@@1@31@@oe@2-2-2013
20467031@unknown@formal@none@1@S@The new, as yet unnamed, subsidiary will combine Quebecor's existing printing unit and Maxwell Graphics.@@@@1@15@@oe@2-2-2013
20467032@unknown@formal@none@1@S@It will have 61 plants from coast to coast and $1.5 billion in annual sales.@@@@1@15@@oe@2-2-2013
20467033@unknown@formal@none@1@S@Quebecor will own 57.5% of the new subsidiary.@@@@1@8@@oe@2-2-2013
20467034@unknown@formal@none@1@S@Caisse de Depot et Placement, the Quebec government pension-fund agency, will pay $112.5 million for the remaining 22.5% stake in the printing operation.@@@@1@23@@oe@2-2-2013
20467035@unknown@formal@none@1@S@Pierre-Karl Peladeau, the founder's son and the executive in charge of the acquisition, says Quebecor hasn't decided how it will finance its share of the purchase, but he says it most likely will use debt.@@@@1@35@@oe@2-2-2013
20467036@unknown@formal@none@1@S@The Maxwell deal is Quebecor's second big printing acquisition in just over a year.@@@@1@14@@oe@2-2-2013
20467037@unknown@formal@none@1@S@Last October, Quebecor bought 23 Canadian printing plants from BCE Inc., a Montreal telecommunications, manufacturing, energy and real estate company.@@@@1@20@@oe@2-2-2013
20467038@unknown@formal@none@1@S@That purchase doubled Quebecor's annual printing revenue to $750 million.@@@@1@10@@oe@2-2-2013
20467039@unknown@formal@none@1@S@Maxwell's sale of its U.S. printing unit was expected, the last major business to be disposed of in a major reshuffling of assets.@@@@1@23@@oe@2-2-2013
20467040@unknown@formal@none@1@S@According to its most recent annual report, covering the 15 months ended March 31, Maxwell Communication bought $3.85 billion in assets -- including Macmillan Inc. and Official Airlines Guides -- and sold $2 billion in non-strategic businesses.@@@@1@37@@oe@2-2-2013
20467041@unknown@formal@none@1@S@Now, Maxwell founder Robert Maxwell says he has an appetite for new acquisitions in the U.S., adding that he could spend "a good deal more" than $1 billion on another U.S. purchase.@@@@1@32@@oe@2-2-2013
20467042@unknown@formal@none@1@S@In London trading yesterday, Maxwell Communication shares rose nine pence, to 216 pence ($3.41).@@@@1@14@@oe@2-2-2013
20467043@unknown@formal@none@1@S@In Montreal, Quebecor's multiple voting Class A stock closed at C$16.375 (US$13.94), down 12.5 Canadian cents.@@@@1@16@@oe@2-2-2013
20467044@unknown@formal@none@1@S@Quebecor Class B stock closed at C$15.375, up 62.5 Canadian cents.@@@@1@11@@oe@2-2-2013
20467045@unknown@formal@none@1@S@Craig Forman in London contributed to this article.@@@@1@8@@oe@2-2-2013
20468001@unknown@formal@none@1@S@G.D. Searle & Co. said the Food and Drug Administration approved the sale of Kerlone, a hypertension drug developed by a joint venture between Searle and a French concern.@@@@1@29@@oe@2-2-2013
20468002@unknown@formal@none@1@S@Searle, a unit of Monsanto Co., said the "beta-blocker" high-blood-pressure drug Kerlone is the first product to reach the market through Lorex Pharmaceuticals, the U.S. company jointly owned by Searle and Synthelabo, a French pharmaceutical concern owned by France's L'Oreal S.A.@@@@1@41@@oe@2-2-2013
20469001@unknown@formal@none@1@S@The U.S. Equal Employment Opportunity Commission sued New York state for age discrimination against appointed state judges.@@@@1@17@@oe@2-2-2013
20469002@unknown@formal@none@1@S@The suit, filed in federal court in Manhattan, charges that New York's mandatory retirement age of 76 violates federal law.@@@@1@20@@oe@2-2-2013
20469003@unknown@formal@none@1@S@Separately, the commission intervened in a Connecticut state judge's age-bias suit in federal court in New Haven.@@@@1@17@@oe@2-2-2013
20469004@unknown@formal@none@1@S@The commission's filing in that case challenges Connecticut's mandatory retirement age of 70 for appointed judges.@@@@1@16@@oe@2-2-2013
20469005@unknown@formal@none@1@S@The New York suit was filed on behalf of Justice Isaac Rubin, whose appointment to the state appellate division expires at year end, and all other judges hurt by the alleged age discrimination.@@@@1@33@@oe@2-2-2013
20469006@unknown@formal@none@1@S@The suit, assigned to federal Judge Kimba Wood, seeks a permanent injunction, back pay for judges who have been forced to retire, reinstatement of retired judges and "other affirmative relief necessary to eradicate the effects of (New York's) unlawful employment practices."@@@@1@41@@oe@2-2-2013
20469007@unknown@formal@none@1@S@Justice Rubin, a state judge since 1969, said the mandatory-retirement age hurts the court system because it deprives the state of experienced judges still capable of serving on the bench.@@@@1@30@@oe@2-2-2013
20469008@unknown@formal@none@1@S@"The issue isn't age -- age is just a number.@@@@1@10@@oe@2-2-2013
20469009@unknown@formal@none@1@S@The issue is one of a judge's experience, his competence and his physical ability to serve on the bench," Justice Rubin said.@@@@1@22@@oe@2-2-2013
20469010@unknown@formal@none@1@S@"I've had no problems performing my duties and responsibilities."@@@@1@9@@oe@2-2-2013
20469011@unknown@formal@none@1@S@Because Justice Rubin turned 76 on May 9, he isn't eligible to be reappointed to the bench at the end of the year.@@@@1@23@@oe@2-2-2013
20469012@unknown@formal@none@1@S@The suit's impact on New York may be narrow, however.@@@@1@10@@oe@2-2-2013
20469013@unknown@formal@none@1@S@Most New York judges are elected, and the federal age-discrimination law doesn't apply to elected officials, said James L. Lee, regional attorney for the EEOC in New York.@@@@1@28@@oe@2-2-2013
20469014@unknown@formal@none@1@S@Under New York law, elected judges must retire at age 70, but then can be appointed to two-year terms until they reach 76.@@@@1@23@@oe@2-2-2013
20469015@unknown@formal@none@1@S@A spokeswoman for the state's Office of Court Administration declined to comment on the suit.@@@@1@15@@oe@2-2-2013
20469016@unknown@formal@none@1@S@But she said the state currently has 35 appointed judges who are over 70.@@@@1@14@@oe@2-2-2013
20469017@unknown@formal@none@1@S@In Connecticut, however, most state judges are appointed by the governor and approved by the state legislature.@@@@1@17@@oe@2-2-2013
20469018@unknown@formal@none@1@S@The parties in the Connecticut case have agreed to stay proceedings pending the appeal of another EEOC age-bias case against Vermont.@@@@1@21@@oe@2-2-2013
20469019@unknown@formal@none@1@S@In the Vermont case, a federal judge ruled that the state's mandatory age of 70 for appointed judges was illegal; Vermont's appeal of that decision is pending before the U.S. Second Circuit Court of Appeals in Manhattan.@@@@1@37@@oe@2-2-2013
20469020@unknown@formal@none@1@S@Aaron Ment, Connecticut's chief court administrator, declined to comment on the suit and the EEOC's intervention.@@@@1@16@@oe@2-2-2013
20469021@unknown@formal@none@1@S@He said the state has 165 appointed judges and 15 "trial referees," who are former judges over age 70 and serve a restricted role on the bench.@@@@1@27@@oe@2-2-2013
20469022@unknown@formal@none@1@S@ORGANIZED CRIME Strike Forces likely to be abolished next month.@@@@1@10@@oe@2-2-2013
20469023@unknown@formal@none@1@S@U.S. Attorney General Dick Thornburgh's plan to dissolve the 14 regional organized-crime strike forces is expected to go into effect next month, despite the opposition of Democratic congressional leaders and lawyers in the special units.@@@@1@35@@oe@2-2-2013
20469024@unknown@formal@none@1@S@The units are autonomous from U.S. attorneys' offices and focus exclusively on prosecuting organized-crime cases.@@@@1@15@@oe@2-2-2013
20469025@unknown@formal@none@1@S@In February, Mr. Thornburgh announced his plan to abolish the units.@@@@1@11@@oe@2-2-2013
20469026@unknown@formal@none@1@S@He says the strike-force lawyers will work more efficiently under the supervision of U.S. attorneys.@@@@1@15@@oe@2-2-2013
20469027@unknown@formal@none@1@S@Mr. Thornburgh will be free to disband the strike forces after Congress approves a $479 million appropriation for federal law-enforcement and drug-interdiction agencies, according to David Runkel, a Justice Department spokesman.@@@@1@31@@oe@2-2-2013
20469028@unknown@formal@none@1@S@The bill is expected to pass in Congress next month.@@@@1@10@@oe@2-2-2013
20469029@unknown@formal@none@1@S@Congress temporarily halted Mr. Thornburgh's effort with an appropriation resolution that prohibited him from using budgeted funds to implement his plan.@@@@1@21@@oe@2-2-2013
20469030@unknown@formal@none@1@S@Opponents say Mr. Thornburgh's plan will needlessly break up longtime, tightly knit crime-fighting units that have successfully prosecuted major organized-crime figures.@@@@1@21@@oe@2-2-2013
20469031@unknown@formal@none@1@S@They predict that organized-crime activity will increase once the units are dissolved and their responsibilities transferred to U.S. attorneys' offices.@@@@1@20@@oe@2-2-2013
20469032@unknown@formal@none@1@S@Some former strike-force personnel say the units have already begun to break up.@@@@1@13@@oe@2-2-2013
20469033@unknown@formal@none@1@S@The Eastern District unit in Brooklyn, N.Y., lost seven of its 15 attorneys this year partly because the lawyers were troubled by the proposed reorganization, says Laura A. Brevetti, who left the strike force to join Morrison Cohen Singer & Weinstein, a New York law firm.@@@@1@46@@oe@2-2-2013
20469034@unknown@formal@none@1@S@"Those who have left have expressed an opinion that the strike force should continue," Ms. Brevetti says.@@@@1@17@@oe@2-2-2013
20469035@unknown@formal@none@1@S@But Mr. Runkel contends there has been no exodus of strike-force lawyers.@@@@1@12@@oe@2-2-2013
20469036@unknown@formal@none@1@S@He says 27 lawyers have left and 21 have been hired since Mr. Thornburgh announced his plan.@@@@1@17@@oe@2-2-2013
20469037@unknown@formal@none@1@S@At the time the plan was announced, there were 135 lawyers.@@@@1@11@@oe@2-2-2013
20469038@unknown@formal@none@1@S@Some congressional leaders intend to continue to fight for independent strike forces.@@@@1@12@@oe@2-2-2013
20469039@unknown@formal@none@1@S@A spokesman for Sen. Edward M. Kennedy (D., Mass.) says Mr. Thornburgh would be required to reinstate the units next year if an proposed omnibus crime bill is passed.@@@@1@29@@oe@2-2-2013
20469040@unknown@formal@none@1@S@Among other things, the bill calls for a reorganization of the Justice Department.@@@@1@13@@oe@2-2-2013
20469041@unknown@formal@none@1@S@The Senate is expected to consider the bill shortly, says the senator's spokesman.@@@@1@13@@oe@2-2-2013
20469042@unknown@formal@none@1@S@Mr. Runkel says he doubts Mr. Kennedy can muster enough congressional support to reorganize the Justice Department.@@@@1@17@@oe@2-2-2013
20469043@unknown@formal@none@1@S@"We will vigorously oppose the bill," he says.@@@@1@8@@oe@2-2-2013
20469044@unknown@formal@none@1@S@"I don't think (the reorganization is) going to happen."@@@@1@9@@oe@2-2-2013
20469045@unknown@formal@none@1@S@WHITMAN & RANSOM recruits lawyers from disbanding firm:@@@@1@8@@oe@2-2-2013
20469046@unknown@formal@none@1@S@The 204-lawyer New York firm will bring in at least 12 partners and a not yet determined number of associates from Golenbock & Barell, which will dissolve Dec. 31.@@@@1@29@@oe@2-2-2013
20469047@unknown@formal@none@1@S@Golenbock, with 35 lawyers, has lost several partners during the past year.@@@@1@12@@oe@2-2-2013
20469048@unknown@formal@none@1@S@Some Golenbock lawyers won't be invited to join Whitman & Ransom, according to partners at both firms.@@@@1@17@@oe@2-2-2013
20469049@unknown@formal@none@1@S@Whitman & Ransom managing partner Maged F. Riad said the Golenbock recruits will enhance the firm's corporate and litigation departments.@@@@1@20@@oe@2-2-2013
20469050@unknown@formal@none@1@S@SHORT SKIRTS not welcome in Texas court:@@@@1@7@@oe@2-2-2013
20469051@unknown@formal@none@1@S@Shelly Hancock, a male county court judge in Houston, refused to let a woman plead guilty to a drunk-driving charge because her skirt stopped three inches above her knees.@@@@1@29@@oe@2-2-2013
20469052@unknown@formal@none@1@S@The woman appeared in court Thursday to enter her plea, but when she started to approach the bench, she was stopped by Judge Hancock.@@@@1@24@@oe@2-2-2013
20469053@unknown@formal@none@1@S@He told the woman's lawyer, Victor Blaine, that the short skirt was inappropriate for a court appearance.@@@@1@17@@oe@2-2-2013
20469054@unknown@formal@none@1@S@Despite Mr. Blaine's protests, the judge rescheduled her case for Nov. 27.@@@@1@12@@oe@2-2-2013
20469055@unknown@formal@none@1@S@Kelly Siegler, an assistant district attorney who was in the courtroom, disputed suggestions the action was sexist, saying she had seen Judge Hancock turn away male defendants dressed in shorts, tank tops or muscle shirts "many times."@@@@1@37@@oe@2-2-2013
20469056@unknown@formal@none@1@S@Judge Hancock didn't return phone calls.@@@@1@6@@oe@2-2-2013
20470001@unknown@formal@none@1@S@Warner Communications Inc. and Sony Corp. resumed settlement talks on their legal battle over Hollywood producers Peter Guber and Jon Peters, but continued to level strong accusations at each other in legal documents.@@@@1@33@@oe@2-2-2013
20470002@unknown@formal@none@1@S@Warner has filed a $1 billion breach of contract suit in Los Angeles Superior Court against Sony and the Guber-Peters duo, who in turn are countersuing Warner for trying to interfere in Sony's acquisition of Columbia Pictures Entertainment Inc. and Guber Peters Entertainment Co. in two transactions valued at over $5 billion.@@@@1@52@@oe@2-2-2013
20470003@unknown@formal@none@1@S@Although settlement talks had been dropped, attorneys for the two sides apparently began talking again yesterday in an attempt to settle the matter before Thursday, when a judge is expected to rule on Warner's request for an injunction that would block the two producers from taking over the management of Columbia.@@@@1@51@@oe@2-2-2013
20470004@unknown@formal@none@1@S@Yesterday, in documents filed in connection with that case, Warner accused Sony officials of falsely claiming that they never read the five-year contract requiring the two producers to make movies exclusively for Columbia, citing Securities and Exchange Commission filings made by Sony that described the contracts.@@@@1@46@@oe@2-2-2013
20470005@unknown@formal@none@1@S@Warner was referring to documents filed last week in which Sony Corp. of America Vice Chairman Michael Schulof and Walter Yetnikoff, president of its CBS Records unit, said they had taken Mr. Guber and Mr. Peters at their word when the producers told them that getting out of the contract would be no problem because of a previous oral agreement.@@@@1@60@@oe@2-2-2013
20470006@unknown@formal@none@1@S@Wayne Smith, an attorney at Gibson, Dunn & Crutcher in Los Angeles representing Sony, said the Sony executives hadn't seen the contract because "it wasn't relevant once Guber and Peters told them Warner would let them terminate it at any time."@@@@1@41@@oe@2-2-2013
20470007@unknown@formal@none@1@S@Mr. Smith said statements about the contract made in SEC filings were made by attorneys who did have access to the contracts but who weren't part of the negotiations between Sony and the duo.@@@@1@34@@oe@2-2-2013
20470008@unknown@formal@none@1@S@Warner executives also filed new sworn affidavits denying claims by Messrs. Guber and Peters that the two sides had an oral agreement that enabled the producers to terminate their contract with Warner should the opportunity to run a major studio come up.@@@@1@42@@oe@2-2-2013
20470009@unknown@formal@none@1@S@But Mr. Smith said Sony intends to prove that the oral agreement did in fact exist, and that even the existing written contract doesn't preclude the producers from taking executive posts at another studio.@@@@1@34@@oe@2-2-2013
20470010@unknown@formal@none@1@S@Warner described as "nonsense" yesterday Sony's assertions in prior court filings that Mr. Guber and Mr. Peters could in theory run Columbia while still fulfilling their contract to produce movies for Warner.@@@@1@32@@oe@2-2-2013
20470011@unknown@formal@none@1@S@Such a dual role would be "impractical and unethical," Warner said, adding, "that concept is as silly as suggesting that the head coach of the Los Angeles Dodgers could simultaneously be general manager of the San Francisco Giants."@@@@1@38@@oe@2-2-2013
20470012@unknown@formal@none@1@S@Warner, which is in the process of being acquired by New York-based Time Warner Inc., also said it paid the two producers a fixed annual salary of $3 million.@@@@1@29@@oe@2-2-2013
20471001@unknown@formal@none@1@S@Dataproducts Inc. said it filed a lawsuit in Delaware Chancery Court to block a tender offer by DPC Acquisition Partners, alleging that the hostile offer violates a standstill agreement between the two concerns.@@@@1@33@@oe@2-2-2013
20471002@unknown@formal@none@1@S@DPC, an investor group led by New York-based Crescott Investment Associates, had itself filed a suit in state court in Los Angeles seeking to nullify the agreement.@@@@1@27@@oe@2-2-2013
20471003@unknown@formal@none@1@S@Earlier this year, Dataproducts had rejected a $15 a share offer from DPC, saying it wasn't adequately financed.@@@@1@18@@oe@2-2-2013
20471004@unknown@formal@none@1@S@DPC last week launched a new, $10-a-share offer for the Woodland Hills, Calif.-based computer printer maker.@@@@1@16@@oe@2-2-2013
20471005@unknown@formal@none@1@S@DPC said it couldn't comment on the suit.@@@@1@8@@oe@2-2-2013
20472001@unknown@formal@none@1@S@Boeing Co.'s third-quarter profit leaped 68%, but Wall Street's attention was focused on the picket line, not the bottom line.@@@@1@20@@oe@2-2-2013
20472002@unknown@formal@none@1@S@In fact, the earnings report unfolded as representatives of the world's No. 1 jet maker and the striking Machinists union came back to the negotiating table for their first meeting in two weeks.@@@@1@33@@oe@2-2-2013
20472003@unknown@formal@none@1@S@Doug Hammond, the federal mediator in Seattle, where Boeing is based, said the parties will continue to sit down daily until a new settlement proposal emerges or the talks break off again.@@@@1@32@@oe@2-2-2013
20472004@unknown@formal@none@1@S@Despite the progress, Boeing indicated that the work stoppage, now in its 27th day, will have "a serious adverse impact" on the current quarter.@@@@1@24@@oe@2-2-2013
20472005@unknown@formal@none@1@S@For the third quarter, net rose to $242 million, or $1.05 a share, from $144 million, or 63 cents a share.@@@@1@21@@oe@2-2-2013
20472006@unknown@formal@none@1@S@Sales climbed 71% to $6.36 billion from $3.72 billion as the company capitalized on the ravenous global demand for commercial airliners.@@@@1@21@@oe@2-2-2013
20472007@unknown@formal@none@1@S@Because it's impossible to gauge how long the walkout by 55,000 Machinists rank and file will last, the precise impact on Boeing's sales, earnings, cash flow and short-term investment position couldn't be determined.@@@@1@33@@oe@2-2-2013
20472008@unknown@formal@none@1@S@The investment community, however, strongly believes that the strike will be settled before there is any lasting effect on either Boeing or its work force.@@@@1@25@@oe@2-2-2013
20472009@unknown@formal@none@1@S@The company's total firm backlog of unfilled orders at Sept. 30 stood at a mighty $69.1 billion, compared with $53.6 billion at the end of@@@@1@25@@oe@2-2-2013
20472010@unknown@formal@none@1@S@Although the company could see fourth-quarter revenue shrink by nearly $5 billion if it isn't able to deliver any more planes this year, those dollars actually would just be deferred until 1990.@@@@1@32@@oe@2-2-2013
20472011@unknown@formal@none@1@S@And the company is certain to get out some aircraft with just supervisors and other non-striking employees on hand.@@@@1@19@@oe@2-2-2013
20472012@unknown@formal@none@1@S@Before the union rejected the company's offer and the strike was launched with the graveyard shift of Oct. 4, Boeing had been counting on turning 96 aircraft out the door in the present period.@@@@1@34@@oe@2-2-2013
20472013@unknown@formal@none@1@S@That included 21 of the company's 747-400 jumbo jets, its most successful product.@@@@1@13@@oe@2-2-2013
20472014@unknown@formal@none@1@S@"It's not a pretty picture," said David Smith, an analyst with Raymond James & Associates.@@@@1@15@@oe@2-2-2013
20472015@unknown@formal@none@1@S@"But it would just mean a great first and second quarter next year."@@@@1@13@@oe@2-2-2013
20472016@unknown@formal@none@1@S@Phillip Brannon of Merrill Lynch Capital Markets added: "You don't want to minimize this and say nobody is looking at it.@@@@1@21@@oe@2-2-2013
20472017@unknown@formal@none@1@S@But the strike hasn't gone on long enough for Boeing to lose business in any real sense."@@@@1@17@@oe@2-2-2013
20472018@unknown@formal@none@1@S@That's the primary reason the company's share price has held up so well when, in Mr. Smith's words, "most companies would have unraveled" by now.@@@@1@25@@oe@2-2-2013
20472019@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Boeing closed yesterday at $54.50 a share, off a scant 12.5 cents.@@@@1@19@@oe@2-2-2013
20472020@unknown@formal@none@1@S@Still, Boeing went through its normal verbal gymnastics and played up the downside.@@@@1@13@@oe@2-2-2013
20472021@unknown@formal@none@1@S@In a statement, Chairman Frank Shrontz asserted that the company "faces significant challenges and risks," on both its commercial and government contracts.@@@@1@22@@oe@2-2-2013
20472022@unknown@formal@none@1@S@For instance, he noted that spending on Pentagon programs is shrinking, and Boeing is either the prime contractor or a major supplier on many important military projects, including the B-2 Stealth bomber, the V-22 Osprey tilt-rotor aircraft and the Air Force's next-generation tactical fighter.@@@@1@44@@oe@2-2-2013
20472023@unknown@formal@none@1@S@Because of cost overruns on fixed-price military work, Mr. Shrontz said, the company's defense business will record "a significant loss" in 1989.@@@@1@22@@oe@2-2-2013
20472024@unknown@formal@none@1@S@Moreover, Mr. Shrontz added, production-rate increases that have been implemented on the 737, 747, 757 and 767 programs have resulted in "serious work force skill-dilution problems."@@@@1@26@@oe@2-2-2013
20472025@unknown@formal@none@1@S@Suppliers and subcontractors are experiencing heightened pressure to support delivery schedules.@@@@1@11@@oe@2-2-2013
20472026@unknown@formal@none@1@S@And, of course, there's the unsteady labor situation.@@@@1@8@@oe@2-2-2013
20472027@unknown@formal@none@1@S@Besides the Machinists pact, accords representing 30,000 of the company's engineering and technical employees in the Puget Sound and Wichita, Kan., areas expire in early December.@@@@1@26@@oe@2-2-2013
20472028@unknown@formal@none@1@S@Also, a contract with the United Auto Workers at the company's helicopter plant in Philadelphia expired Oct. 15.@@@@1@18@@oe@2-2-2013
20472029@unknown@formal@none@1@S@This contract, covering about 3,000 hourly production and maintenance workers, is being extended on a day-to-day basis.@@@@1@17@@oe@2-2-2013
20472030@unknown@formal@none@1@S@The Machinists rejected a proposal featuring a 10% base wage increase over the life of the three-year contract, plus bonuses of 8% the first year and 3% the second.@@@@1@29@@oe@2-2-2013
20472031@unknown@formal@none@1@S@On top of that, Boeing would make cost-of-living adjustments projected to be 5% for each year of the contract.@@@@1@19@@oe@2-2-2013
20472032@unknown@formal@none@1@S@The union, though, has called the offer "insulting."@@@@1@8@@oe@2-2-2013
20472033@unknown@formal@none@1@S@The company reiterated yesterday that it's willing to reconfigure the package, but not add to the substance of it.@@@@1@19@@oe@2-2-2013
20472034@unknown@formal@none@1@S@For the nine months, Boeing's net increased 36% to $598 million, or $2.60 a share, from $440 million, or $1.92 a share.@@@@1@22@@oe@2-2-2013
20472035@unknown@formal@none@1@S@Sales soared 28% to $15.43 billion from $12.09 billion.@@@@1@9@@oe@2-2-2013
20472036@unknown@formal@none@1@S@In a separate matter, the Justice Department yesterday said Boeing agreed to pay the government $11 million to settle claims that the company provided inaccurate cost information to the Air Force while negotiating contracts to replace the aluminum skins on the KC-135 tanker aircraft.@@@@1@44@@oe@2-2-2013
20472037@unknown@formal@none@1@S@The settlement relates to four contracts negotiated from 1982 to 1985, prosecutors said.@@@@1@13@@oe@2-2-2013
20472038@unknown@formal@none@1@S@They added that the settlement is the culmination of a 2 1/2-year investigation into the company's aluminum pricing practices in connection with KC-135s.@@@@1@23@@oe@2-2-2013
20472039@unknown@formal@none@1@S@A Boeing spokesman responded: "All along the company has said there was no grounds for criminal prosecution.@@@@1@17@@oe@2-2-2013
20472040@unknown@formal@none@1@S@That was borne out by the Justice Department's decision" to settle the case.@@@@1@13@@oe@2-2-2013
20473001@unknown@formal@none@1@S@Foothills Pipe Lines Ltd. filed an application with Canadian regulators to build a 4.4 billion Canadian dollar (US$3.74 billion) pipeline to transport natural gas from Canada's Arctic to U.S. markets beginning in@@@@1@32@@oe@2-2-2013
20473002@unknown@formal@none@1@S@The application by Foothills, owned by Calgary-based Nova Corp. of Alberta and Westcoast Energy Inc. of Vancouver, Canada, is expected to kick off what could be a contentious battle for the right to transport vast quantities of gas to southern markets from still-undeveloped fields in Canada's Mackenzie River delta.@@@@1@49@@oe@2-2-2013
20473003@unknown@formal@none@1@S@"This is a pre-emptive strike by Foothills," said Rick Hillary, natural gas manager of the Calgary-based Independent Petroleum Association of Canada, an industry group.@@@@1@24@@oe@2-2-2013
20473004@unknown@formal@none@1@S@"Foothills wants to make it clear to other pipeline companies that it's on first insofar as transporting gas from the Arctic to southern markets," Mr. Hillary said.@@@@1@27@@oe@2-2-2013
20473005@unknown@formal@none@1@S@At least two rival applications are expected to emerge in coming months, including one from TransCanada PipeLines Ltd., Canada's largest natural gas pipeline operator.@@@@1@24@@oe@2-2-2013
20473006@unknown@formal@none@1@S@Another is expected from a consortium of oil and gas producers who won conditional approval this month from Canada's National Energy Board to export about 9.2 trillion cubic feet of Mackenzie delta gas to the U.S. starting in 1996.@@@@1@39@@oe@2-2-2013
20473007@unknown@formal@none@1@S@The producers include Shell Canada Ltd., a unit of Royal Dutch/Shell Group; Esso Resources Canada Ltd., a unit of Imperial Oil Ltd., which is 71%-owned by Exxon Corp.; and Gulf Canada Resources Ltd., a unit of Olympia & York Developments Ltd.@@@@1@41@@oe@2-2-2013
20473008@unknown@formal@none@1@S@"The {National Energy Board} approval of the exports just waved the starting flag for the next stage, the rush to build facilities to transport the gas," said Bill Koerner, an analyst with Brady & Berliner, a Washington, D.C., law firm.@@@@1@40@@oe@2-2-2013
20473009@unknown@formal@none@1@S@Foothills' main rival to build a Mackenzie Delta pipeline is likely to be TransCanada PipeLines.@@@@1@15@@oe@2-2-2013
20473010@unknown@formal@none@1@S@The Toronto-based company, together with Tenneco Inc. of Houston, has had an incomplete proposal filed with Canadian regulators since 1984 that it is now updating.@@@@1@25@@oe@2-2-2013
20473011@unknown@formal@none@1@S@Like Foothills, TransCanada's Polar Gas consortium plans to build a pipeline directly south from the Mackenzie River delta in Canada's western Arctic with an initial capacity to transport 1.2 billion cubic feet of gas daily.@@@@1@35@@oe@2-2-2013
20473012@unknown@formal@none@1@S@Industry sources said they expect a fierce battle to emerge between TransCanada, which has a monopoly on Canadian gas transportation east of Alberta, and Nova and Westcoast, which control the pipelines within and running west of Alberta, respectively.@@@@1@38@@oe@2-2-2013
20473013@unknown@formal@none@1@S@"This is virgin territory, unclaimed, and it's going to be nasty," said one observer, who asked not to be named.@@@@1@20@@oe@2-2-2013
20473014@unknown@formal@none@1@S@"Neither is going to back down easily."@@@@1@7@@oe@2-2-2013
20473015@unknown@formal@none@1@S@TransCanada declined to comment on the Foothills application.@@@@1@8@@oe@2-2-2013
20473016@unknown@formal@none@1@S@But last week Gerald Maier, president and chief executive officer of TransCanada, said the company "intends to be a party to any transportation system that goes up there" and that it would consider joint ventures with other players to ensure it has a role.@@@@1@44@@oe@2-2-2013
20473017@unknown@formal@none@1@S@A number of issues still need to be resolved before Canadian regulators give any project the final go-ahead.@@@@1@18@@oe@2-2-2013
20473018@unknown@formal@none@1@S@First, the price of natural gas will have to almost double.@@@@1@11@@oe@2-2-2013
20473019@unknown@formal@none@1@S@Kent Jesperson, president of Foothills, said the company believes the project would be viable if gas prices reach US$3.25 a thousand cubic feet by 1995, in current dollars, up from a current spot price of about US$1.50.@@@@1@37@@oe@2-2-2013
20473020@unknown@formal@none@1@S@Mr. Jesperson's US$3.25 estimate is somewhat below the $3.39 floor price that Calgary-based consulting firm Paul Ziff & Co. recently said would be needed for Mackenzie delta gas producers to see a return on their investment.@@@@1@36@@oe@2-2-2013
20473021@unknown@formal@none@1@S@U.S. gas buyers must also decide whether they want to enter firm contracts for Mackenzie delta gas or develop Alaskan reserves in the Prudhoe Bay area first, a project that has been on hold for more than a decade.@@@@1@39@@oe@2-2-2013
20473022@unknown@formal@none@1@S@Robert Pierce, chairman and chief executive of Foothills, said it's too early to say whether Alaskan or Mackenzie delta gas would flow to market first.@@@@1@25@@oe@2-2-2013
20473023@unknown@formal@none@1@S@But Foothills said it plans to seek regulatory approval to build an alternative line, the Alaska Natural Gas Transportation System further north toward Alaska.@@@@1@24@@oe@2-2-2013
20473024@unknown@formal@none@1@S@If that option is favored by gas buyers and regulators, Foothills said it would build another smaller pipeline connecting Mackenzie Delta reserves to the Alaska mainline.@@@@1@26@@oe@2-2-2013
20473025@unknown@formal@none@1@S@It's also likely that regulators will try to forge some kind of consensus between the would-be pipeline builders before undertaking any hearings into rival projects.@@@@1@25@@oe@2-2-2013
20473026@unknown@formal@none@1@S@Douglas Stoneman, vice president of Shell Canada, noted that producers would prefer to avoid hearings into competing proposals that would lengthen the regulatory review process and bog down development.@@@@1@29@@oe@2-2-2013
20473027@unknown@formal@none@1@S@Interprovincial Pipe Line Co., an oil pipeline operator rumored to be mulling a gas pipeline proposal of its own, said that isn't in the cards.@@@@1@25@@oe@2-2-2013
20473028@unknown@formal@none@1@S@Instead, Richard Haskayne, president and chief executive of Interprovincial's Calgary-based parent, Interhome Energy Inc., said the company would prefer to work with other "interested parties" on a joint proposal.@@@@1@29@@oe@2-2-2013
20473029@unknown@formal@none@1@S@As for Foothills' pre-emptive bid, Mr. Haskayne said, "If they think it gives them some kind of priority position, well, that's their strategy.@@@@1@23@@oe@2-2-2013
20474001@unknown@formal@none@1@S@The Federal Reserve Board said it is delaying approval of First Union Corp.'s proposed $849 million acquisition of Florida National Banks of Florida Inc., pending the outcome of an examination into First Union's lending practices in low-income neighborhoods.@@@@1@38@@oe@2-2-2013
20474002@unknown@formal@none@1@S@The decision reflects the Fed's tougher stance on enforcing the Community Reinvestment Act, a federal law passed in 1977 to help low-income residents obtain loans.@@@@1@25@@oe@2-2-2013
20474003@unknown@formal@none@1@S@In recent years, unions and community groups have won big commitments from banks to make low-interest loans in certain neighborhoods by threatening to hold up proposed acquisitions with protests to the Fed about reinvestment act compliance.@@@@1@36@@oe@2-2-2013
20474004@unknown@formal@none@1@S@Few petitions, however, have actually delayed or scuttled mergers.@@@@1@9@@oe@2-2-2013
20474005@unknown@formal@none@1@S@The current dispute involves allegations that Charlotte, N.C.-based First Union hasn't lived up to its responsibilities under the reinvestment act.@@@@1@20@@oe@2-2-2013
20474006@unknown@formal@none@1@S@During the summer, Legal Services Corp., a Florida legal aid group, filed a petition with the Fed on behalf of residents in four Florida counties.@@@@1@25@@oe@2-2-2013
20474007@unknown@formal@none@1@S@The petition challenged First Union's lending record in the state, saying that the bank-holding company had "shut itself off from contact with the low-income community and is redlining almost every black neighborhood that it serves in the state."@@@@1@38@@oe@2-2-2013
20474008@unknown@formal@none@1@S@In deferring action on the merger, the Fed said, "The Board does not believe that there is sufficient information in the record at this time to allow {it} to reach a final conclusion on First Union's record of helping to meet the credit needs of the communities it serves in Florida and North Carolina, including low to moderate-income neighborhoods in those communities."@@@@1@62@@oe@2-2-2013
20474009@unknown@formal@none@1@S@The Fed said the Comptroller of the Currency is expected to begin a Community Reinvestment Act examination of First Union's Florida and North Carolina banking units in the next two weeks.@@@@1@31@@oe@2-2-2013
20474010@unknown@formal@none@1@S@First Union, with assets of about $32 billion, said it was disappointed by the delay but said it would cooperate with regulatory authorities.@@@@1@23@@oe@2-2-2013
20474011@unknown@formal@none@1@S@The bank added that it believes the review will "demonstrate that First Union is in compliance with the requirements of the Community Reinvestment Act."@@@@1@24@@oe@2-2-2013
20474012@unknown@formal@none@1@S@The company has already missed its initial Oct. 1 target date for completing the merger.@@@@1@15@@oe@2-2-2013
20474013@unknown@formal@none@1@S@It said yesterday it still expects to close the acquisition later this year or early in 1990.@@@@1@17@@oe@2-2-2013
20474014@unknown@formal@none@1@S@Florida National, if acquired, would almost double First Union's banking franchise in Florida to $17 billion in assets.@@@@1@18@@oe@2-2-2013
20474015@unknown@formal@none@1@S@That would make it the second-largest bank, after Barnett Banks Inc., in a state widely considered to be the most lucrative banking market in the country.@@@@1@26@@oe@2-2-2013
20474016@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, First Union shares rose 25 cents to $23.@@@@1@16@@oe@2-2-2013
20474017@unknown@formal@none@1@S@Florida National stock closed unchanged at $25.875 in national over-the-counter trading.@@@@1@11@@oe@2-2-2013
20474018@unknown@formal@none@1@S@Earlier this year, the Fed denied an application by Continental Bank Corp. to purchase Grand Canyon State Bank in Scottsdale, Ariz., on grounds that Continental hadn't fully complied with the Community Reinvestment Act.@@@@1@33@@oe@2-2-2013
20474019@unknown@formal@none@1@S@At the time, the Fed said the denial, the first ever on such grounds, signaled the agency's new emphasis on the Community Reinvestment Act.@@@@1@24@@oe@2-2-2013
20475001@unknown@formal@none@1@S@Eastern Airlines' creditors committee backed off a move to come up with its own alternative proposals to the carrier's bankruptcy reorganization plans, according to sources familiar with the committee.@@@@1@29@@oe@2-2-2013
20475002@unknown@formal@none@1@S@In a meeting in New York yesterday, the committee put on hold instructions it gave two weeks ago to its experts to explore other options for Eastern's future, the sources said.@@@@1@31@@oe@2-2-2013
20475003@unknown@formal@none@1@S@The consultants had been working to finish a report this week.@@@@1@11@@oe@2-2-2013
20475004@unknown@formal@none@1@S@That means Eastern, a unit of Texas Air Corp. of Houston, can go forward with its pitch for creditor approval as early as today, when it is expected to deliver a revised reorganization plan to the committee.@@@@1@37@@oe@2-2-2013
20475005@unknown@formal@none@1@S@The committee intends to meet next week to make a recommendation on the new plan.@@@@1@15@@oe@2-2-2013
20475006@unknown@formal@none@1@S@In another development yesterday, creditors were told that $40 million they had expected to become available for implementing a reorganization may not materialize, according to one source.@@@@1@27@@oe@2-2-2013
20475007@unknown@formal@none@1@S@Texas Air has run into difficulty reselling about $20 million of debt securities because of problems in the junk bond market, the person said.@@@@1@24@@oe@2-2-2013
20475008@unknown@formal@none@1@S@And plans to raise another $20 million through changes to an insurance policy have hit a snag, the source said.@@@@1@20@@oe@2-2-2013
20475009@unknown@formal@none@1@S@An Eastern spokesman said "the $40 million will have no effect whatsoever on the asset structure of Eastern's plan.@@@@1@19@@oe@2-2-2013
20475010@unknown@formal@none@1@S@Forty million in the total scheme of things is not that significant."@@@@1@12@@oe@2-2-2013
20475011@unknown@formal@none@1@S@It is unclear what caused the creditors to do an about-face on exploring alternatives to Eastern's new reorganization plan.@@@@1@19@@oe@2-2-2013
20475012@unknown@formal@none@1@S@However, since Eastern first filed for Chapter 11 protection March 9, it has consistently promised to pay creditors 100 cents on the dollar.@@@@1@23@@oe@2-2-2013
20475013@unknown@formal@none@1@S@Because the carrier is still pledging to do that, some committee members successfully argued that there's little reason yet to explore a different plan, according to one person familiar with the creditors' position.@@@@1@33@@oe@2-2-2013
20475014@unknown@formal@none@1@S@Earlier this month the accounting firm of Ernst & Young and the securities firm of Goldman, Sachs & Co., the experts hired by the creditors, contended that Eastern would have difficulty meeting earnings targets the airline was projecting.@@@@1@38@@oe@2-2-2013
20475015@unknown@formal@none@1@S@Ernst & Young said Eastern's plan would miss projections by $100 million.@@@@1@12@@oe@2-2-2013
20475016@unknown@formal@none@1@S@Goldman said Eastern would miss the same mark by at least $120 million.@@@@1@13@@oe@2-2-2013
20475017@unknown@formal@none@1@S@The consultants maintained Eastern wouldn't generate the cash it needs and would have to issue new debt to meet its targets under the plan.@@@@1@24@@oe@2-2-2013
20475018@unknown@formal@none@1@S@Eastern at the time disputed those assessments and called the experts' report "completely off base."@@@@1@15@@oe@2-2-2013
20475019@unknown@formal@none@1@S@Yesterday, Joel Zweibel, an attorney for Eastern's creditors committee, declined to comment on whether the experts had ever been instructed to look at other choices and whether they now were asked not to.@@@@1@33@@oe@2-2-2013
20475020@unknown@formal@none@1@S@He said only that the committee has not yet taken any position on Eastern's reorganization plan and that the two sides were still negotiating.@@@@1@24@@oe@2-2-2013
20475021@unknown@formal@none@1@S@"In every case, people would like to see a consentual plan," he said.@@@@1@13@@oe@2-2-2013
20475022@unknown@formal@none@1@S@Eastern and its creditors agreed in July on a reorganization plan that called for the carrier to sell off $1.8 billion in assets and to emerge from Chapter 11 status in late 1989 at two-thirds its former size.@@@@1@38@@oe@2-2-2013
20475023@unknown@formal@none@1@S@Eastern eventually decided not to sell off a major chunk, its South American routes, which were valued at $400 million.@@@@1@20@@oe@2-2-2013
20475024@unknown@formal@none@1@S@Such a change meant the reorganization plan the creditors had agreed on was no longer valid, and the two sides had to begin negotiating again.@@@@1@25@@oe@2-2-2013
20475025@unknown@formal@none@1@S@Eastern has publicly stated it is exceeding its goals for getting back into operation and has predicted it would emerge from Chapter 11 proceedings early next year, operating more flights than it originally had scheduled.@@@@1@35@@oe@2-2-2013
20476001@unknown@formal@none@1@S@The following were among yesterday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
20476002@unknown@formal@none@1@S@New York City --@@@@1@4@@oe@2-2-2013
20476003@unknown@formal@none@1@S@$813.4 million of general obligation bonds, Fiscal 1990 Series C and D, including $757.4 million of tax-exempt bonds and $56 million of taxable bonds, tentatively priced by a Goldman Sachs & Co. group.@@@@1@33@@oe@2-2-2013
20476004@unknown@formal@none@1@S@Yields for tax-exempt bonds range from 6 1/2% in 1990 to 7.88% in 2003-2005.@@@@1@14@@oe@2-2-2013
20476005@unknown@formal@none@1@S@Yields for taxable bonds range from 9 1/8% in 1994 to 9.90% in 2009 and 2010.@@@@1@16@@oe@2-2-2013
20476006@unknown@formal@none@1@S@The bonds are all rated single-A by Moody's Investors Service Inc.@@@@1@11@@oe@2-2-2013
20476007@unknown@formal@none@1@S@The underwriters expect a single-A-minus rating from Standard & Poor's Corp., which has the issue under review.@@@@1@17@@oe@2-2-2013
20476008@unknown@formal@none@1@S@Collateralized Mortgage Securities Corp. --@@@@1@5@@oe@2-2-2013
20476009@unknown@formal@none@1@S@$150 million of Remic mortgage securities offered in 12 classes by First Boston Corp.@@@@1@14@@oe@2-2-2013
20476010@unknown@formal@none@1@S@The offering, Series 1989-3, is by a company established by First Boston for issuing Remics and other derivative mortgage securities.@@@@1@20@@oe@2-2-2013
20476011@unknown@formal@none@1@S@It is backed by Government National Mortgage Association 9 1/2% securities with a weighted average remaining term to maturity of 29 years and being offered at market prices.@@@@1@28@@oe@2-2-2013
20476012@unknown@formal@none@1@S@Beneficial Corp. --@@@@1@3@@oe@2-2-2013
20476013@unknown@formal@none@1@S@$248.3 million of securities backed by home-equity loans through Merrill Lynch Capital Markets.@@@@1@13@@oe@2-2-2013
20476014@unknown@formal@none@1@S@The offering, with an expected average life of 3.2 years, will float monthly at 20 basis points above the rate on an index of 30-day double-A-rated commercial paper, which now yields about 8.50%.@@@@1@33@@oe@2-2-2013
20476015@unknown@formal@none@1@S@The issue has an expected final maturity date of 1998.@@@@1@10@@oe@2-2-2013
20476016@unknown@formal@none@1@S@The offering is rated triple-A by Moody's and S&P, based on the quality of the underlying home equity loans and a letter of credit covering 10% of the deal from Union Bank of Switzerland.@@@@1@34@@oe@2-2-2013
20476017@unknown@formal@none@1@S@The offering is being made through BCI Home Equity Loan Asset-Backed Certificates, Series 1989-1.@@@@1@14@@oe@2-2-2013
20476018@unknown@formal@none@1@S@Rochester Community Savings Bank --@@@@1@5@@oe@2-2-2013
20476019@unknown@formal@none@1@S@$200 million of 8.85% certificates backed by automobile loans priced to yield 8.99% via First Boston Corp.@@@@1@17@@oe@2-2-2013
20476020@unknown@formal@none@1@S@The issue, through RCSB 1989-A Grantor Trust, was priced at a yield spread of 100 basis points above the Treasury 7 3/4% note due July 1991.@@@@1@26@@oe@2-2-2013
20476021@unknown@formal@none@1@S@The offering has an expected average life of 1.7 years and a final maturity date of May 15, 1995.@@@@1@19@@oe@2-2-2013
20476022@unknown@formal@none@1@S@The issue is rated triple-A by Moody's, based on the quality of the underlying auto loans and a letter of credit covering 13% of the deal from Credit Suisse.@@@@1@29@@oe@2-2-2013
20476023@unknown@formal@none@1@S@South Australian Government Finance Authority (agency) --@@@@1@7@@oe@2-2-2013
20476024@unknown@formal@none@1@S@125 million Australian dollars of zero-coupon Eurobonds due Dec. 12, 1994, priced at 50.9375 to yield 15.06% less fees via Hambros Bank Ltd.@@@@1@23@@oe@2-2-2013
20476025@unknown@formal@none@1@S@Guaranteed by the South Australian Treasury.@@@@1@6@@oe@2-2-2013
20476026@unknown@formal@none@1@S@Fees 1 3/8.@@@@1@3@@oe@2-2-2013
20476027@unknown@formal@none@1@S@Government Insurance Office of New South Wales (agency) --@@@@1@9@@oe@2-2-2013
20476028@unknown@formal@none@1@S@A$50 million of 17 1/2% Eurobonds due Dec. 4, 1991, priced at 101.95 to yield 17.06 less fees via Westpac Banking Corp.@@@@1@22@@oe@2-2-2013
20476029@unknown@formal@none@1@S@Fees 1 1/4.@@@@1@3@@oe@2-2-2013
20476030@unknown@formal@none@1@S@Swedish Export Credit Corp. (Sweden) --@@@@1@6@@oe@2-2-2013
20476031@unknown@formal@none@1@S@100 million Swiss francs of 6 1/8% privately placed notes due Sept. 30, 1996, priced at 100 3/4 to yield 5.99% via Citicorp Investment Bank Switzerland.@@@@1@26@@oe@2-2-2013
20476032@unknown@formal@none@1@S@Call from Sept. 30, 1993, at 100 3/16, declining by 1/16 point a year to to par.@@@@1@17@@oe@2-2-2013
20476033@unknown@formal@none@1@S@Fees 1 3/4.@@@@1@3@@oe@2-2-2013
20477001@unknown@formal@none@1@S@West German insurance giant Allianz AG entered the takeover battle between France's Cie. Financiere de Paribas and Cie. de Navigation Mixte.@@@@1@21@@oe@2-2-2013
20477002@unknown@formal@none@1@S@Allianz said it won French government approval to buy as much as one-third of Navigation Mixte, a diversified financial, transport and food holding company.@@@@1@24@@oe@2-2-2013
20477003@unknown@formal@none@1@S@The move comes a week after Paribas announced that it was preparing to bid for 66.7% control of Navigation Mixte.@@@@1@20@@oe@2-2-2013
20477004@unknown@formal@none@1@S@Munich-based Allianz's brief explanatory statement said it is acting to protect its own interests as a shareholder of Navigation Mixte.@@@@1@20@@oe@2-2-2013
20477005@unknown@formal@none@1@S@That would be a blow to both Paribas and Navigation Mixte.@@@@1@11@@oe@2-2-2013
20477006@unknown@formal@none@1@S@Each had claimed Allianz, Europe's largest insurance company, as a tacit ally.@@@@1@12@@oe@2-2-2013
20477007@unknown@formal@none@1@S@The Allianz statement also reinforced the belief that the takeover battle could be a long one.@@@@1@16@@oe@2-2-2013
20477008@unknown@formal@none@1@S@It led to broad market speculation that Paribas now will sweeten its bid, which is expected to be formally launched later this week, after approval from French government regulators.@@@@1@29@@oe@2-2-2013
20477009@unknown@formal@none@1@S@Allianz's entry reflects the increasing eagerness of West German companies, looking ahead to the reduction in European Community internal barriers in 1992, to get involved in what until now were considered internal French affairs.@@@@1@34@@oe@2-2-2013
20477010@unknown@formal@none@1@S@Deutsche Bank, Dresdner Bank and Commerzbank all also have expressed eagerness to expand in France before 1992.@@@@1@17@@oe@2-2-2013
20477011@unknown@formal@none@1@S@Dresdner Bank this month moved to acquire Banque Internationale des Placements, a small French merchant bank that Deutsche Bank had looked at and passed over.@@@@1@25@@oe@2-2-2013
20477012@unknown@formal@none@1@S@Commerzbank had hoped to buy a stake in Credit Lyonnais, until the Socialists returned to government last year and canceled plans to privatize the large French bank.@@@@1@27@@oe@2-2-2013
20477013@unknown@formal@none@1@S@Deutsche Bank has actively sought a French acquisition for at least two years.@@@@1@13@@oe@2-2-2013
20477014@unknown@formal@none@1@S@Lately, analysts say, Deutsche Bank has shocked some in the French financial community by indicating it wants a strong bank with a large number of branches.@@@@1@26@@oe@2-2-2013
20477015@unknown@formal@none@1@S@"We are still looking," said a Deutsche Bank spokesman.@@@@1@9@@oe@2-2-2013
20477016@unknown@formal@none@1@S@"The banks we think would fit into our concept are either government-owned or not for sale, though Deutsche Bank would be able to pay a good price."@@@@1@27@@oe@2-2-2013
20477017@unknown@formal@none@1@S@While Allianz officials weren't willing to comment in any detail on their plans, they said Allianz currently holds between 5% and 10% of Navigation Mixte, an apparent increase from the 5% stake that Navigation Mixte officials had earlier announced.@@@@1@39@@oe@2-2-2013
20477018@unknown@formal@none@1@S@Paris market sources said they believed Allianz was buying yesterday morning, and Navigation Mixte moved up 108 francs ($17.19) to close at 1,908 francs in heavy trading.@@@@1@27@@oe@2-2-2013
20477019@unknown@formal@none@1@S@It was the first day of trading following the suspension of Navigation Mixte shares last Monday, when Paribas announced its plan to pay 1,850 francs for each Navigation Mixte share.@@@@1@30@@oe@2-2-2013
20477020@unknown@formal@none@1@S@Allianz also holds a 50% stake in Navigation Mixte's insurance subsidiary, one of France's largest insurance groups, which it bought for about 6.5 billion francs just before Paribas launched its bid.@@@@1@31@@oe@2-2-2013
20477021@unknown@formal@none@1@S@Navigation Mixte holds the remaining 50%.@@@@1@6@@oe@2-2-2013
20477022@unknown@formal@none@1@S@Allianz said in its statement that it was acting to protect that interest, which ties it to Navigation Mixte as a partner.@@@@1@22@@oe@2-2-2013
20477023@unknown@formal@none@1@S@Allianz's statement stressed the company's previously announced position that Paribas's offer price is too low.@@@@1@15@@oe@2-2-2013
20477024@unknown@formal@none@1@S@Allianz also suggested, without saying so directly, that it regrets that Paribas isn't bidding for all of Navigation Mixte's shares.@@@@1@20@@oe@2-2-2013
20477025@unknown@formal@none@1@S@The problem here, analysts say, is that if Paribas wins its 66.7%, remaining Navigation Mixte shares will fall in value.@@@@1@20@@oe@2-2-2013
20477026@unknown@formal@none@1@S@That displeases many current holders, such as Allianz, which couldn't be sure of selling all their shares if they tendered to Paribas.@@@@1@22@@oe@2-2-2013
20477027@unknown@formal@none@1@S@The Allianz statement led to speculation that Allianz eventually could sell to Paribas.@@@@1@13@@oe@2-2-2013
20477028@unknown@formal@none@1@S@That would be bad news for Navigation Mixte's current management, which was counting on Allianz to help fend off Paribas.@@@@1@20@@oe@2-2-2013
20477029@unknown@formal@none@1@S@Allianz didn't say whom, if anyone, it will support.@@@@1@9@@oe@2-2-2013
20477030@unknown@formal@none@1@S@It said simply that it will boost its Navigation Mixte stake as it sees fit over the coming days to protect itself, as long as it has French regulatory officials' approval.@@@@1@31@@oe@2-2-2013
20477031@unknown@formal@none@1@S@Paribas currently intends to offer 1,850 francs a share for Navigation Mixte shares that receive full dividends this year.@@@@1@19@@oe@2-2-2013
20477032@unknown@formal@none@1@S@It is to offer 1,800 francs for shares created on July 1, which receive partial dividends.@@@@1@16@@oe@2-2-2013
20477033@unknown@formal@none@1@S@Alternatively, it would offer to swap three Paribas shares for one Navigation Mixte share.@@@@1@14@@oe@2-2-2013
20477034@unknown@formal@none@1@S@Paribas already holds about 18.7% of Navigation Mixte, and the acquisition of the additional 48% would cost it about 11 billion francs under its current bid.@@@@1@26@@oe@2-2-2013
20477035@unknown@formal@none@1@S@The bid values Navigation Mixte at around 23 billion francs, depending on how many holders of Navigation Mixte warrants exchange them for shares before the bid expires.@@@@1@27@@oe@2-2-2013
20478001@unknown@formal@none@1@S@Penn Central Corp., Cincinnati, said it agreed in principle to acquire Noranda Inc.'s Carol Cable Co. unit for $177 million.@@@@1@20@@oe@2-2-2013
20478002@unknown@formal@none@1@S@The company said Carol Cable, based in Pawtucket, R.I., is a leading supplier of electrical and electronic wire and cable for the distributor, retail and original equipment manufacturer markets.@@@@1@29@@oe@2-2-2013
20478003@unknown@formal@none@1@S@Carol Cable, which operates 12 manufacturing plants, had operating profit of $11.7 million on sales of $153.3 million for the first six months of this year and operating profit of $25.6 million on sales of $294.6 million for all of 1988.@@@@1@41@@oe@2-2-2013
20478004@unknown@formal@none@1@S@The maker of telecommunications and defense equipment said Carol Cable's portfolio and market focus would complement the company's current wire and cable businesses.@@@@1@23@@oe@2-2-2013
20478005@unknown@formal@none@1@S@The plan is subject to a satisfactory due diligence investigation of Carol Cable by Penn Central, a definitive agreement and regulatory approvals.@@@@1@22@@oe@2-2-2013
20479001@unknown@formal@none@1@S@Fletcher Challenge Ltd. said its Petrocorp unit agreed to acquire certain Alberta oil and gas interests from Amoco Corp.'s Canadian unit, for about 130 million Canadian dollars (US$110.6 million).@@@@1@29@@oe@2-2-2013
20479002@unknown@formal@none@1@S@Fletcher Challenge, a big New Zealand-based forest products concern with forestry operations in Canada, said the assets include stakes in four natural gas fields and one oil field near Provost, Alberta, plus gas processing facilities and about 247,000 acres of undeveloped land.@@@@1@42@@oe@2-2-2013
20479003@unknown@formal@none@1@S@The proposed purchase requires approval from Investment Canada, which monitors large foreign investments in Canada.@@@@1@15@@oe@2-2-2013
20479004@unknown@formal@none@1@S@Amoco Canada Petroleum Co., which operates the major properties included in the asset package, said the sale is part of a plan to streamline its assets.@@@@1@26@@oe@2-2-2013
20479005@unknown@formal@none@1@S@Petrocorp, a New Zealand-based oil and gas producer, said the planned purchase would be its first oil and gas acquisition outside its home country, and would form the basis for a new stand-alone exploration and production unit in Canada.@@@@1@39@@oe@2-2-2013
20480001@unknown@formal@none@1@S@MiniScribe Corp., Longmont, Colo., said it introduced a one-inch high, 80-megabyte hard disk drive that it hopes will prove popular with makers of high-performance laptop and portable computers.@@@@1@28@@oe@2-2-2013
20480002@unknown@formal@none@1@S@The troubled disk drive maker aims with the new 3 1/2-inch disks to revive its reputation and sales growth.@@@@1@19@@oe@2-2-2013
20480003@unknown@formal@none@1@S@MiniScribe said the disk drives have more memory capacity than other disks that size.@@@@1@14@@oe@2-2-2013
20480004@unknown@formal@none@1@S@MiniScribe said it expects to begin full volume production of the drives in the U.S. and Singapore in the first quarter next year.@@@@1@23@@oe@2-2-2013
20480005@unknown@formal@none@1@S@A drive with 120 megabytes of capacity is scheduled for release during the third quarter of 1990.@@@@1@17@@oe@2-2-2013
20480006@unknown@formal@none@1@S@MiniScribe has been on the rocks since it disclosed early this year that its earnings reports for 1988 weren't accurate.@@@@1@20@@oe@2-2-2013
20480007@unknown@formal@none@1@S@After an internal investigation, the company found that senior officials used a variety of schemes to fabricate sales gains, including counting shipments of bricks and defective drives as sales.@@@@1@29@@oe@2-2-2013
20481001@unknown@formal@none@1@S@The New York Times Co. said it reached a settlement with independent home delivery dealers in the metropolitan New York area that will free the newspaper to expand home delivery circulation.@@@@1@31@@oe@2-2-2013
20481002@unknown@formal@none@1@S@The settlement stemmed from a lawsuit the dealers filed in 1982 when the Times began its own competing direct delivery service.@@@@1@21@@oe@2-2-2013
20481003@unknown@formal@none@1@S@The pact calls for the Times to pay dealers $3.6 million over six years, as well as other payments in the form of subsidies over three years, based on the number of "new customers started by the dealers and on pricing structures," the Times said.@@@@1@45@@oe@2-2-2013
20481004@unknown@formal@none@1@S@The amount of the settlement will be taken as a charge against earnings in the fourth quarter.@@@@1@17@@oe@2-2-2013
20481005@unknown@formal@none@1@S@The settlement, which involves most of the 300 independent newspaper dealers in the New York area, will allow the Times to freely operate its own direct home delivery system.@@@@1@29@@oe@2-2-2013
20481006@unknown@formal@none@1@S@Home delivery is the fastest growing segment of the Times's 1.1 million daily circulation.@@@@1@14@@oe@2-2-2013
20481007@unknown@formal@none@1@S@Currently, about 60% of home delivery subscribers in the New York area receive the paper directly from the Times.@@@@1@19@@oe@2-2-2013
20482001@unknown@formal@none@1@S@Mercury Savings & Loan Association, Huntington Beach, Calif., reported a third-quarter loss of $3.9 million, or 61 cents a share, compared with net income of $1.4 million, or 22 cents a share, in the year-earlier quarter.@@@@1@36@@oe@2-2-2013
20482002@unknown@formal@none@1@S@Mercury attributed the loss to rapid prepayments of loans and costs incurred in refinancing many house loans this past spring and summer, when interest rates dipped.@@@@1@26@@oe@2-2-2013
20482003@unknown@formal@none@1@S@The thrift hired an investment banker earlier this month to advise it regarding a possible sale or merger.@@@@1@18@@oe@2-2-2013
20482004@unknown@formal@none@1@S@Mercury also is shrinking itself, part of its plan to change its emphasis from buying mortgage loans from mortgage brokers to making loans directly.@@@@1@24@@oe@2-2-2013
20482005@unknown@formal@none@1@S@Such a focus is "more profitable, more efficient and gives us a greater sense of control," said William A. Shane, Mercury's senior executive vice president.@@@@1@25@@oe@2-2-2013
20482006@unknown@formal@none@1@S@As of Sept. 30, Mercury's assets were $2.25 billion, down from $2.62 billion a year ago.@@@@1@16@@oe@2-2-2013
20482007@unknown@formal@none@1@S@For the nine months, Mercury posted a loss of $5.4 million, or 86 cents share, against net income of $4 million, or 63 cents share, a year earlier.@@@@1@28@@oe@2-2-2013
20482008@unknown@formal@none@1@S@Mercury shares closed yesterday at $4.625, up 50 cents, in New York Stock Exchange composite trading.@@@@1@16@@oe@2-2-2013
20483001@unknown@formal@none@1@S@Bancroft Convertible Fund Inc., New York, likely will reject a renewed offer from Florida investor Robert I. Green to buy Bancroft for $18.95 a share.@@@@1@25@@oe@2-2-2013
20483002@unknown@formal@none@1@S@Sigmund Levine, Bancroft secretary and treasurer, said the closed-end fund's directors will consider Mr. Green's offer in a couple of weeks at a regular meeting.@@@@1@25@@oe@2-2-2013
20483003@unknown@formal@none@1@S@"He hasn't added anything," Mr. Levine said, predicting the board will again reject Mr. Green's proposal.@@@@1@16@@oe@2-2-2013
20483004@unknown@formal@none@1@S@In a Securities and Exchange Commission filing, Mr. Green said he had boosted his holdings in Bancroft common to 10.4% from 8.5%, and renewed an offer he made in March to acquire the fund.@@@@1@34@@oe@2-2-2013
20483005@unknown@formal@none@1@S@Mr. Levine noted that Bancroft's shares have been trading at or above Mr. Green's offering price for the last several months.@@@@1@21@@oe@2-2-2013
20483006@unknown@formal@none@1@S@He said Bancroft attorneys are scheduled to meet with Mr. Green's attorneys in Delaware Chancery Court at the end of this week to respond to the investor's request for company records for the past five years.@@@@1@36@@oe@2-2-2013
20483007@unknown@formal@none@1@S@Mr. Green couldn't be reached.@@@@1@5@@oe@2-2-2013
20484001@unknown@formal@none@1@S@Giant Group said a federal court in Delaware has denied a motion by Rally's Inc. seeking to block a group led by Giant Chairman Burt Sugarman from acquiring more of the company's shares.@@@@1@33@@oe@2-2-2013
20484002@unknown@formal@none@1@S@Rally's, a fast-food chain based in Louisville, Ky., is contending that Mr. Sugarman and two other company directors failed to disclose to the Securities and Exchange Commission that they intended to acquire a big Rally stake.@@@@1@36@@oe@2-2-2013
20484003@unknown@formal@none@1@S@Mr. Sugarman has in turn contended that the other major shareholder group -- whose interests are represented by three other directors connected to trusts in the name of the children of the company's founder, James Patterson -- has ties to a competing fast food chain, Wendy's International Inc.@@@@1@48@@oe@2-2-2013
20484004@unknown@formal@none@1@S@The company last week assembled a three-member committee of directors aligned with neither side to analyze the situation.@@@@1@18@@oe@2-2-2013
20484005@unknown@formal@none@1@S@Each group controls more than 40% of Rally's stock.@@@@1@9@@oe@2-2-2013
20484006@unknown@formal@none@1@S@The company just went public earlier this month.@@@@1@8@@oe@2-2-2013
20484007@unknown@formal@none@1@S@Rally's had no comment, but was expected to make an announcement this morning about the situation.@@@@1@16@@oe@2-2-2013
20485001@unknown@formal@none@1@S@Singer Bette Midler won a $400,000 federal court jury verdict against Young & Rubicam in a case that threatens a popular advertising industry practice of using "sound-alike" performers to tout products.@@@@1@31@@oe@2-2-2013
20485002@unknown@formal@none@1@S@The decision in Los Angeles federal court stems from a 1985 Mercury Sable TV ad that Young & Rubicam worked up for Ford Motor Co.@@@@1@25@@oe@2-2-2013
20485003@unknown@formal@none@1@S@The ad agency had approached Ms. Midler about appearing, but she declined, citing a longstanding policy of refusing advertising work.@@@@1@20@@oe@2-2-2013
20485004@unknown@formal@none@1@S@The agency then turned to a former backup singer for Ms. Midler who appeared in the ad and crooned what was generally considered a more than credible imitation of Ms. Midler's 1973 hit song "Do You Wanna Dance."@@@@1@38@@oe@2-2-2013
20485005@unknown@formal@none@1@S@The appeals court held: "When a distinctive voice of a professional singer is widely known and is deliberately imitated in order to sell a product, the sellers have appropriated what is not theirs."@@@@1@33@@oe@2-2-2013
20485006@unknown@formal@none@1@S@The judge in the jury trial said there was insufficient evidence to hold Ford liable in the case.@@@@1@18@@oe@2-2-2013
20485007@unknown@formal@none@1@S@In a statement, Young & Rubicam called the award "unfortunate but bearable."@@@@1@12@@oe@2-2-2013
20485008@unknown@formal@none@1@S@Peter Laird, a Los Angeles lawyer for Ms. Midler, said, "We believe that the verdict reaffirms her position and our position that advertisers and advertising agencies cannot with impunity imitate the voices of well-known performers.@@@@1@35@@oe@2-2-2013
20485009@unknown@formal@none@1@S@That is a property right that belongs to the performer."@@@@1@10@@oe@2-2-2013
20485010@unknown@formal@none@1@S@The award, although far less than the $10 million, including punitive damages, that Ms. Midler sought, is likely to force Madison Avenue to further rethink how they use famous songs in ads.@@@@1@32@@oe@2-2-2013
20485011@unknown@formal@none@1@S@Last year's appeals court decision, for instance, spawned several suits, reportedly including a recent action by the heirs of singer Bobby Darin against McDonald's Corp. over its "Mac Tonight" TV commercials, a rough parody of Mr. Darin's "Mack the Knife" trademark.@@@@1@41@@oe@2-2-2013
20485012@unknown@formal@none@1@S@The appeals-court decision last year was particularly surprising because the same court had dismissed a similar case in 1970 involving singer Nancy Sinatra and a tire ad -- also a Young & Rubicam product.@@@@1@34@@oe@2-2-2013
20485013@unknown@formal@none@1@S@Ms. Sinatra sued over the use of her "These Boots are Made for Walkin'" song in the ad.@@@@1@18@@oe@2-2-2013
20485014@unknown@formal@none@1@S@At that time, the court held that such a claim would interfere with federal copyright law, which has always cracked down on the unauthorized copying of songs and musical compositions but never actual performances.@@@@1@34@@oe@2-2-2013
20485015@unknown@formal@none@1@S@"One thing that is a little unnerving is that you had three old men on the court of appeals in California coming up with a statement that Nancy Sinatra is not distinctive but that Bette Midler is.@@@@1@37@@oe@2-2-2013
20485016@unknown@formal@none@1@S@I am not sure that judges, many of whom I like very much, are proper repositories for making distinctions about pop singers," said Richard Kurnit, a New York advertising lawyer.@@@@1@30@@oe@2-2-2013
20485017@unknown@formal@none@1@S@Nonetheless, Mr. Kurnit said that the latest decisions are having a chilling effect.@@@@1@13@@oe@2-2-2013
20485018@unknown@formal@none@1@S@"It has made people think twice about how they use music and is forcing them to be more circumspect about doing a particular rendition of a song in its most famous form," he said.@@@@1@34@@oe@2-2-2013
20485019@unknown@formal@none@1@S@Joanne Lipman contributed to this article.@@@@1@6@@oe@2-2-2013
20486001@unknown@formal@none@1@S@James River Corp., Richmond, Va., said it acquired the tissue operations of Buhrmann-Tetterode N.V. of the Netherlands for about $77 million.@@@@1@21@@oe@2-2-2013
20486002@unknown@formal@none@1@S@The Dutch unit, known as Celtona B.V., is a leading maker of consumer and away-from-home tissue products for the Benelux region.@@@@1@21@@oe@2-2-2013
20486003@unknown@formal@none@1@S@In addition, the acquisition includes production assets of Invercon Papermils, a maker of household tissue products for the U.K. and Ireland.@@@@1@21@@oe@2-2-2013
20486004@unknown@formal@none@1@S@The combined operations had 1988 revenue of about $100 million.@@@@1@10@@oe@2-2-2013
20486005@unknown@formal@none@1@S@James River, a maker of pulp, paper and plastic products, already has interests in tissue businesses in France, Spain, Italy and Turkey.@@@@1@22@@oe@2-2-2013
20486006@unknown@formal@none@1@S@The company said it plans to form European ventures with Italian and Finnish companies.@@@@1@14@@oe@2-2-2013
20486007@unknown@formal@none@1@S@The Celtona operations would become part of those ventures.@@@@1@9@@oe@2-2-2013
20487001@unknown@formal@none@1@S@Vitro S.A. of Monterrey, Mexico, said its THR Corp. subsidiary has entered into definitive loan agreements in connection with Vitro's $21.25-a-share tender offer for Anchor Glass Container Corp.@@@@1@28@@oe@2-2-2013
20487002@unknown@formal@none@1@S@The agreements are with Security Pacific National Bank and an affiliate of Donaldson, Lufkin & Jenrette Securities Corp.@@@@1@18@@oe@2-2-2013
20487003@unknown@formal@none@1@S@Proceeds of the loan agreement, together with funds from Vitro, will permit the purchase of all shares outstanding of Anchor and the payment of all related costs and expenses.@@@@1@29@@oe@2-2-2013
20487004@unknown@formal@none@1@S@Vitro said the definitive agreements require that Anchor obtain a waiver from its bank lenders of existing covenant defaults under its bank facilities.@@@@1@23@@oe@2-2-2013
20487005@unknown@formal@none@1@S@Since Anchor is still seeking this waiver, Vitro said the tender offer is being extended until 5 p.m. EST tomorrow.@@@@1@20@@oe@2-2-2013
20488001@unknown@formal@none@1@S@The dollar finished mostly stronger yesterday, boosted by a modest recovery in share prices.@@@@1@14@@oe@2-2-2013
20488002@unknown@formal@none@1@S@The Dow Jones Industrial Average climbed 6.76 points in a spate of bargain-hunting following last week's declines.@@@@1@17@@oe@2-2-2013
20488003@unknown@formal@none@1@S@"Attention is fixed on the stock market for lack of anything else to sink our teeth into," said Robert White, a vice president at First Interstate of California.@@@@1@28@@oe@2-2-2013
20488004@unknown@formal@none@1@S@Some analysts predict that in the absence of market-moving news to push the U.S. unit sharply higher or lower, the currency is likely to drift below 1.80 marks this week.@@@@1@30@@oe@2-2-2013
20488005@unknown@formal@none@1@S@But others reject the view, and forecast the dollar will continue to hold its current tight trading pattern.@@@@1@18@@oe@2-2-2013
20488006@unknown@formal@none@1@S@They argue that weakness in both the yen and sterling have helped offset bearish U.S. economic news and have lent support to the dollar.@@@@1@24@@oe@2-2-2013
20488007@unknown@formal@none@1@S@In late New York trading yesterday, the dollar was quoted at 1.8340 marks, up from 1.8300 marks late Friday, and at 141.90 yen, up from 141.65 yen late Friday.@@@@1@29@@oe@2-2-2013
20488008@unknown@formal@none@1@S@Sterling was quoted at $1.5820, up from $1.5795 late Friday.@@@@1@10@@oe@2-2-2013
20488009@unknown@formal@none@1@S@The dollar rose against the Swiss and French francs.@@@@1@9@@oe@2-2-2013
20488010@unknown@formal@none@1@S@In Tokyo Tuesday, the U.S. currency opened for trading at 142.32 yen, up from Monday's Tokyo close of 142.17 yen.@@@@1@20@@oe@2-2-2013
20488011@unknown@formal@none@1@S@Last week, the surprise resignation of British Chancellor of the Exchequer Nigel Lawson sent the British pound into a tailspin.@@@@1@20@@oe@2-2-2013
20488012@unknown@formal@none@1@S@While sterling bounced back from session lows in a bout of short-covering yesterday, foreign exchange dealers said that any hopes that the pound would soon post significant gains have evaporated.@@@@1@30@@oe@2-2-2013
20488013@unknown@formal@none@1@S@Traders said that statements made over the weekend to quell concern about the stability of Prime Minister Margaret Thatcher's government and the future of her economic program largely failed to reassure investors and bolster the flagging British unit.@@@@1@38@@oe@2-2-2013
20488014@unknown@formal@none@1@S@In her first televised interview following Mr. Lawson's resignation, Mrs. Thatcher reiterated her desire to keep sterling strong and warned again that full entry into the European Monetary System's exchange rate mechanism would provide no easy solution to Britain's economic troubles.@@@@1@41@@oe@2-2-2013
20488015@unknown@formal@none@1@S@She said that the timing of the United Kingdom's entry would depend on the speed with which other members liberalize their economies.@@@@1@22@@oe@2-2-2013
20488016@unknown@formal@none@1@S@Mrs. Thatcher's remarks were seen as a rebuff to several leading members of her own Conservative Party who have called for a more clear-cut British commitment to the EMS.@@@@1@29@@oe@2-2-2013
20488017@unknown@formal@none@1@S@At the same time, a recent poll shows that Mrs. Thatcher has hit the lowest popularity rating of any British leader since polling began 50 years ago.@@@@1@27@@oe@2-2-2013
20488018@unknown@formal@none@1@S@Comments by John Major, who has succeeded Mr. Lawson, also failed to damp market concern, despite his pledge to maintain relatively high British interest rates.@@@@1@25@@oe@2-2-2013
20488019@unknown@formal@none@1@S@According to one London-based analyst, even higher interest rates won't help the pound if Britain's government continues to appear unstable.@@@@1@20@@oe@2-2-2013
20488020@unknown@formal@none@1@S@One U.S. trader, however, dismissed sterling doomsayers while acknowledging there is little immediate upside potential for the U.K. unit.@@@@1@19@@oe@2-2-2013
20488021@unknown@formal@none@1@S@"There is no question that the situation is bad, but we may be painting a gloomier picture than we should," he said.@@@@1@22@@oe@2-2-2013
20488022@unknown@formal@none@1@S@He predicts the pound will continue to trade in a very volatile fashion, with "fits of being oversold and overbought" before recovering its losses.@@@@1@24@@oe@2-2-2013
20488023@unknown@formal@none@1@S@Dealers also note that the general lack of enthusiasm for the yen has helped bolster the U.S. dollar.@@@@1@18@@oe@2-2-2013
20488024@unknown@formal@none@1@S@They observe that persistent Japanese investor demand for dollars for both portfolio and direct investment has kept a base of support for the dollar at around 140 yen.@@@@1@28@@oe@2-2-2013
20488025@unknown@formal@none@1@S@The dollar began yesterday on a firm note in Tokyo, closing higher in late trade.@@@@1@15@@oe@2-2-2013
20488026@unknown@formal@none@1@S@In Europe, the dollar closed slightly up in a market dominated by cross trades.@@@@1@14@@oe@2-2-2013
20488027@unknown@formal@none@1@S@On the Commodity Exchange in New York, gold for current delivery settled at $377.80 an ounce, down 70 cents.@@@@1@19@@oe@2-2-2013
20488028@unknown@formal@none@1@S@Estimated volume was a moderate 3.5 million ounces.@@@@1@8@@oe@2-2-2013
20488029@unknown@formal@none@1@S@In early trading in Hong Kong Tuesday, gold was quoted at $376.80 an ounce.@@@@1@14@@oe@2-2-2013
20489001@unknown@formal@none@1@S@General Electric Capital Corp.'s Monogram Bank USA acquired a Visa and MasterCard portfolio from Commercial Federal Savings & Loan Association, an Omaha, Neb., unit of Commercial Federal Corp. of Omaha.@@@@1@30@@oe@2-2-2013
20489002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20489003@unknown@formal@none@1@S@The portfolio currently includes $95 million in receivables, GE Capital said.@@@@1@11@@oe@2-2-2013
20489004@unknown@formal@none@1@S@GE Capital is a financial services subsidiary of General Electric Co. of Fairfield, Conn., which also has broadcasting and electrical-products businesses.@@@@1@21@@oe@2-2-2013
20489005@unknown@formal@none@1@S@GE Capital said Commercial Federal Savings will continue to market Visa and MasterCard programs while Monogram provides "operational and marketing support" and actually owns the accounts.@@@@1@26@@oe@2-2-2013
20489006@unknown@formal@none@1@S@With the acquisition, Monogram, Blue Ash, Ohio, has more than 2.4 million total accounts, GE Capital added.@@@@1@17@@oe@2-2-2013
20490001@unknown@formal@none@1@S@EAST GERMANS RALLIED in three cities to demand democratic freedoms.@@@@1@10@@oe@2-2-2013
20490002@unknown@formal@none@1@S@As the country's new leader, Egon Krenz, prepared to travel to Moscow today for talks with Soviet leader Gorbachev, hundreds of thousands of East Germans massed in the streets of Leipzig, Halle and Schwerin to call for internal freedoms and the legalization of the New Forum opposition group.@@@@1@48@@oe@2-2-2013
20490003@unknown@formal@none@1@S@Krenz, however, vowed to preserve the Communist Party's hold on political power and said East Germans shouldn't destabilize the nation with unrealistic demands.@@@@1@23@@oe@2-2-2013
20490004@unknown@formal@none@1@S@Communist officials this month have faced nearly daily pro-democracy protests, accompanied by the flight to the West by thousands of East Germans.@@@@1@22@@oe@2-2-2013
20490005@unknown@formal@none@1@S@Soviet police clashed with demonstrators in Moscow following a candlelight vigil around the KGB's Lubyanka headquarters in memory of those persecuted under Stalin.@@@@1@23@@oe@2-2-2013
20490006@unknown@formal@none@1@S@More than 1,000 Muscovites attended the service.@@@@1@7@@oe@2-2-2013
20490007@unknown@formal@none@1@S@A splinter group demonstrated in Pushkin Square, where the police clubbed and detained a number of protesters.@@@@1@17@@oe@2-2-2013
20490008@unknown@formal@none@1@S@Police in Yugoslavia dispersed about 1,000 ethnic Albanians who were protesting the trial of the former Communist Party chief of the southern province of Kosovo.@@@@1@25@@oe@2-2-2013
20490009@unknown@formal@none@1@S@Azem Vlasi and 14 others are accused of inciting riots and strikes and opposing constitutional limits to Kosovo's autonomy.@@@@1@19@@oe@2-2-2013
20490010@unknown@formal@none@1@S@If convicted, they could be sentenced to death.@@@@1@8@@oe@2-2-2013
20490011@unknown@formal@none@1@S@A court in Jerusalem sentenced a Palestinian to 16 life terms for forcing a bus off a cliff July 6, killing 16 people, Israeli radio reported.@@@@1@26@@oe@2-2-2013
20490012@unknown@formal@none@1@S@He also received 20-year sentences for each of the 24 passengers injured.@@@@1@12@@oe@2-2-2013
20490013@unknown@formal@none@1@S@It was considered the stiffest sentence passed since the start of the 22-month-old Arab uprising in the Israeli-occupied territories.@@@@1@19@@oe@2-2-2013
20490014@unknown@formal@none@1@S@U.S. and Soviet negotiators opened talks in New York aimed at resolving differences in proposals to reduce chemical-weapons arsenals.@@@@1@19@@oe@2-2-2013
20490015@unknown@formal@none@1@S@While the Kremlin has urged a ban on output of the poison gases, the White House wants to continue producing the weapons even after an international treaty calling for their destruction is signed.@@@@1@33@@oe@2-2-2013
20490016@unknown@formal@none@1@S@South Africa's government said peaceful demonstrations such as the anti-apartheid rally Sunday near Soweto have helped ease tensions and assisted political changes.@@@@1@22@@oe@2-2-2013
20490017@unknown@formal@none@1@S@About 70,000 people attended the anti-government rally, at which leaders of the banned African National Congress refused to renounce violence to end apartheid.@@@@1@23@@oe@2-2-2013
20490018@unknown@formal@none@1@S@Secretary of State Baker expressed concern that Nicaraguan President Ortega may attempt to use alleged attacks by the U.S.backed Contra rebels as an excuse to scuttle elections scheduled for February.@@@@1@30@@oe@2-2-2013
20490019@unknown@formal@none@1@S@Ortega had threatened to end a 19-month-old ceasefire.@@@@1@8@@oe@2-2-2013
20490020@unknown@formal@none@1@S@Baker's remarks came as the White House urged both sides to honor the truce.@@@@1@14@@oe@2-2-2013
20490021@unknown@formal@none@1@S@The USS Lexington returned to dock in Pensacola, Fla., following an accident Sunday in which the pilot of a training jet crashed into the ship, killing five sailors.@@@@1@28@@oe@2-2-2013
20490022@unknown@formal@none@1@S@The captain of the aircraft carrier, the oldest in the Navy, said the flier was making his first attempt to land on a carrier.@@@@1@24@@oe@2-2-2013
20490023@unknown@formal@none@1@S@Four people torched three U.S. flags on the central steps of the U.S. Capitol in a bid to test a new federal law protecting the American flag from desecration.@@@@1@29@@oe@2-2-2013
20490024@unknown@formal@none@1@S@All four demonstrators were arrested.@@@@1@5@@oe@2-2-2013
20490025@unknown@formal@none@1@S@The law, which Bush allowed to take effect without his signature, went into force Friday.@@@@1@15@@oe@2-2-2013
20490026@unknown@formal@none@1@S@Chinese officials said armed police would replace soldiers in Tiananmen Square as part of a scaling down of Beijing's five-month-old state of emergency.@@@@1@23@@oe@2-2-2013
20490027@unknown@formal@none@1@S@Separately, the U.S. Embassy has filed three protests in as many days with China's government, alleging harassment of diplomats and their families, an embassy source said.@@@@1@26@@oe@2-2-2013
20490028@unknown@formal@none@1@S@Authorities in Algeria said the toll from two earthquakes Sunday had reached at least 30 dead and about 250 injured.@@@@1@20@@oe@2-2-2013
20490029@unknown@formal@none@1@S@The heaviest damage was reported in Tipasa, about 40 miles west of Algiers.@@@@1@13@@oe@2-2-2013
20490030@unknown@formal@none@1@S@As rescue teams continued searching for victims, hundreds of suvivors accused the government of a feeble response following the temblors.@@@@1@20@@oe@2-2-2013
20490031@unknown@formal@none@1@S@Britain's Thatcher summoned senior advisers for strategy talks as opinion polls showed the prime minister's popularity had hit a record low following the resignation last Thursday of Chancellor of the Exchequer Lawson.@@@@1@32@@oe@2-2-2013
20490032@unknown@formal@none@1@S@One poll, conducted for the British Broadcasting Corp., found that 52% of voters believed that she should quit.@@@@1@18@@oe@2-2-2013
20490033@unknown@formal@none@1@S@Lawmakers in Hungary approved legislation granting amnesty to many people convicted of crimes punishable by less than three years in prison.@@@@1@21@@oe@2-2-2013
20490034@unknown@formal@none@1@S@They also established an office to control government and party finances.@@@@1@11@@oe@2-2-2013
20490035@unknown@formal@none@1@S@The laws take effect next month.@@@@1@6@@oe@2-2-2013
20490036@unknown@formal@none@1@S@Died: Robert V. Van Fossan, 63, chairman of Mutual Benefit Life Insurance Co., Sunday, in Morristown, N.J., of cancer.@@@@1@19@@oe@2-2-2013
20491001@unknown@formal@none@1@S@Fluor Corp. said it was awarded a $300 million contract to provide engineering and construction-management services at a copper mine in Irian Jaya, Indonesia, for a unit of Freeport-McMoRan Copper Co.@@@@1@31@@oe@2-2-2013
20491002@unknown@formal@none@1@S@Fluor, based in Irvine, Calif., will direct expansion of the mine's capacity to 52,000 metric tons a day from 32,000 metric tons a day.@@@@1@24@@oe@2-2-2013
20491003@unknown@formal@none@1@S@Completion of the project is expected by mid-1992.@@@@1@8@@oe@2-2-2013
20491004@unknown@formal@none@1@S@In 1988, Fluor had revenue of $5.1 billion and earnings of $56.4 million, or 71 cents a share.@@@@1@18@@oe@2-2-2013
20492001@unknown@formal@none@1@S@Nixdorf Computer AG, citing continued profitability problems, said it will have to reduce personnel further, notably in research and development sectors.@@@@1@21@@oe@2-2-2013
20492002@unknown@formal@none@1@S@The troubled West German computer company said, in a statement to its employees, that the number of persons working in product development will be reduced world-wide to 2,440 from 2,888 by the end of 1990.@@@@1@35@@oe@2-2-2013
20492003@unknown@formal@none@1@S@The number of workers in production sectors will be cut by 488, to 5,200 by September.@@@@1@16@@oe@2-2-2013
20492004@unknown@formal@none@1@S@The cuts will be made half within Germany and half abroad.@@@@1@11@@oe@2-2-2013
20492005@unknown@formal@none@1@S@In the first nine months of 1989, Nixdorf said, sales rose 5% amid good growth in selected areas such as banks and trading companies.@@@@1@24@@oe@2-2-2013
20492006@unknown@formal@none@1@S@The company also cited some success in damping cost increases and said it wants to return to profitability in 1990.@@@@1@20@@oe@2-2-2013
20492007@unknown@formal@none@1@S@It cited the expected beneficial effects of a concentration on key products, further structural changes within the group and cooperation agreements with other companies.@@@@1@24@@oe@2-2-2013
20493001@unknown@formal@none@1@S@GREAT NORTHERN NEKOOSA is being sought by another big paper company, Georgia-Pacific, for $58 a share, or about $3.18 billion.@@@@1@20@@oe@2-2-2013
20493002@unknown@formal@none@1@S@The tender offer, which surprised analysts because it appeared to be unsolicited, could spark a period of industry consolidation.@@@@1@19@@oe@2-2-2013
20493003@unknown@formal@none@1@S@Analysts questioned whether Georgia-Pacific will ultimately prevail, saying other paper concerns may make competing bids.@@@@1@15@@oe@2-2-2013
20493004@unknown@formal@none@1@S@Two more securities firms bowed to the outcry over program trading.@@@@1@11@@oe@2-2-2013
20493005@unknown@formal@none@1@S@GE's Kidder Peabody unit said it would stop doing stock-index arbitrage for its own account, while Merrill Lynch said it was halting such trading entirely.@@@@1@25@@oe@2-2-2013
20493006@unknown@formal@none@1@S@Also, the Big Board met with angry stock specialists.@@@@1@9@@oe@2-2-2013
20493007@unknown@formal@none@1@S@A big pension-insurance case will be reviewed by the Supreme Court.@@@@1@11@@oe@2-2-2013
20493008@unknown@formal@none@1@S@The justices agreed to decide whether federal insurers can require LTV to take back responsiblilty for funding its $2.3 billion pension shortfall.@@@@1@22@@oe@2-2-2013
20493009@unknown@formal@none@1@S@Drug companies lost a major liability case.@@@@1@7@@oe@2-2-2013
20493010@unknown@formal@none@1@S@The Supreme Court let stand a New York ruling that all manufacturers of an anti-miscarriage drug are liable for injuries or deaths if the actual maker isn't known.@@@@1@28@@oe@2-2-2013
20493011@unknown@formal@none@1@S@Revco received a $925 million takeover offer from Texas financier Robert Bass and Acadia Partners.@@@@1@15@@oe@2-2-2013
20493012@unknown@formal@none@1@S@The drugstore chain reacted cautiously, saying the plan would further swell its huge debt, which forced the company into Chapter 11 protection last year.@@@@1@24@@oe@2-2-2013
20493013@unknown@formal@none@1@S@Rockefeller Group agreed to sell a 51% interest to Mitsubishi Estate, a major Japanese developer and property owner, for $846 million.@@@@1@21@@oe@2-2-2013
20493014@unknown@formal@none@1@S@Officials at some Rockefeller units are said to be unhappy with the agreement.@@@@1@13@@oe@2-2-2013
20493015@unknown@formal@none@1@S@Continental Air replaced its top executive for the sixth time in as many years.@@@@1@14@@oe@2-2-2013
20493016@unknown@formal@none@1@S@Chairman and Chief Executive Joseph Corr was succeeded by Frank Lorenzo, chief of parent Texas Air.@@@@1@16@@oe@2-2-2013
20493017@unknown@formal@none@1@S@United Air's parent may have to pay as much as $53.7 million to the labor-management buy-out group for fees and expenses incurred in their failed $6.79 billion takeover bid.@@@@1@29@@oe@2-2-2013
20493018@unknown@formal@none@1@S@Gen-Probe agreed to be bought by Chugai Pharmaceutical for about $110 million.@@@@1@12@@oe@2-2-2013
20493019@unknown@formal@none@1@S@The sale is likely to fuel concern about growing Japanese investment in U.S. biotechnology firms.@@@@1@15@@oe@2-2-2013
20493020@unknown@formal@none@1@S@Boeing posted a 68% jump in third-quarter earnings, but Wall Street's attention was focused on the continued strike at the aircraft maker.@@@@1@22@@oe@2-2-2013
20493021@unknown@formal@none@1@S@The Fed delayed approval of First Union's $849 million acquisition of Florida National Banks pending a review of First Union's lending practices in low-income neighborhoods.@@@@1@25@@oe@2-2-2013
20493022@unknown@formal@none@1@S@Allianz of West Germany entered the takeover battle between France's Paribas and Navigation Mixte.@@@@1@14@@oe@2-2-2013
20493023@unknown@formal@none@1@S@Maxwell agreed to sell its U.S. printing unit to Quebecor for $500 million, making Quebecor the No. 2 commercial printer in North America.@@@@1@23@@oe@2-2-2013
20493024@unknown@formal@none@1@S@New construction contracts rose 8% in September, led by commercial, industrial and public-works projects, according to F.W. Dodge Group.@@@@1@19@@oe@2-2-2013
20493025@unknown@formal@none@1@S@Western Union took steps to withdraw a $500 million debt swap, citing turmoil in the junk bond market.@@@@1@18@@oe@2-2-2013
20493026@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
20493027@unknown@formal@none@1@S@Stocks: Volume 126,630,000 shares.@@@@1@4@@oe@2-2-2013
20493028@unknown@formal@none@1@S@Dow Jones industrials 2603.48, up 6.76; transportation 1191.86, up 1.43; utilities 216.74, up 0.88.@@@@1@14@@oe@2-2-2013
20493029@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3416.81, up@@@@1@8@@oe@2-2-2013
20493030@unknown@formal@none@1@S@Commodities: Dow Jones futures index 129.38, off 0.11; spot index 130.09, off 0.71.@@@@1@13@@oe@2-2-2013
20493031@unknown@formal@none@1@S@Dollar: 141.90 yen, up 0.25; 1.8340 marks, up 0.0040.@@@@1@9@@oe@2-2-2013
20494001@unknown@formal@none@1@S@Pacific Telesis Group said its Pacific Bell unit sustained property damage of about $45 million to $50 million from the California earthquake earlier this month.@@@@1@25@@oe@2-2-2013
20494002@unknown@formal@none@1@S@The San Francisco-based telecommunications company said it carries $150 million of earthquake insurance with a $10 million deductible provision.@@@@1@19@@oe@2-2-2013
20494003@unknown@formal@none@1@S@Sam Ginn, chairman and chief executive officer, told securities analysts in New York that the company expects somewhat slower per-share earnings growth in 1990, although annual growth should return to the traditional figure of about 7% thereafter.@@@@1@37@@oe@2-2-2013
20494004@unknown@formal@none@1@S@As factors contributing to the temporary slowdown, he cited one-time rate reductions prescribed by California regulators as a prelude to a new framework that removes profit constraints.@@@@1@27@@oe@2-2-2013
20494005@unknown@formal@none@1@S@He also mentioned increased capital investment by Pacific Bell for network improvements.@@@@1@12@@oe@2-2-2013
20494006@unknown@formal@none@1@S@Mr. Ginn said the company's cellular operations now serve about 341,000 customers, up 46% from a year ago.@@@@1@18@@oe@2-2-2013
20495001@unknown@formal@none@1@S@General Motors Corp. is planning to build a new engine plant in Europe that may be built in Britain, provided the company can reach a satisfactory agreement with unions, sources said.@@@@1@31@@oe@2-2-2013
20495002@unknown@formal@none@1@S@Officials of Vauxhall Motors Ltd., GM's British unit, were meeting with union leaders late yesterday in hopes of winning such an accord.@@@@1@22@@oe@2-2-2013
20495003@unknown@formal@none@1@S@The engine plant may encompass plans for a joint components venture with Jaguar.@@@@1@13@@oe@2-2-2013
20495004@unknown@formal@none@1@S@Alternatively, a separate engine plant may be built as part of GM's planned tie-up with the British luxury car maker, the sources said.@@@@1@23@@oe@2-2-2013
20495005@unknown@formal@none@1@S@Sources said a "complex and detailed" announcement of a joint agreement between General Motors and Jaguar would be made by Jaguar "some time in the next 2 1/2 weeks.@@@@1@29@@oe@2-2-2013
20496001@unknown@formal@none@1@S@Cray Research Inc. won government clearance for its proposed reorganization of founder Seymour Cray's supercomputer design team into a separate company.@@@@1@21@@oe@2-2-2013
20496002@unknown@formal@none@1@S@Internal Revenue Service approval of the move as a tax-free transaction was the last hurdle to splitting up the world's dominant maker of supercomputers, which Mr. Cray founded in 1974.@@@@1@30@@oe@2-2-2013
20496003@unknown@formal@none@1@S@Cray's directors set Nov. 15 as the record date for distribution of shares in the new company, to be called Cray Computer Corp.@@@@1@23@@oe@2-2-2013
20496004@unknown@formal@none@1@S@It will trade over the counter under the symbol CRAY.@@@@1@10@@oe@2-2-2013
20496005@unknown@formal@none@1@S@The plan calls for Cray Research holders to receive one share in the new company for every two shares held.@@@@1@20@@oe@2-2-2013
20496006@unknown@formal@none@1@S@An estimated 14.7 million Cray Computer shares will be distributed, Cray Research said.@@@@1@13@@oe@2-2-2013
20496007@unknown@formal@none@1@S@Under the accord, Cray Research will transfer to Mr. Cray's fledgling operation $53.3 million of assets primarily related to the Cray-3 development project his team is undertaking and will lend Cray Computer $98.6 million.@@@@1@34@@oe@2-2-2013
20496008@unknown@formal@none@1@S@Cray Research will retain a 10% interest in the new company, which will be based in Colorado Springs, Colo.@@@@1@19@@oe@2-2-2013
20496009@unknown@formal@none@1@S@When it announced the planned breakup in May, Cray Research said development costs of several competing projects were squeezing its earnings growth.@@@@1@22@@oe@2-2-2013
20496010@unknown@formal@none@1@S@After the split, the two companies presumably will be rivals for orders from government and commercial customers.@@@@1@17@@oe@2-2-2013
20497001@unknown@formal@none@1@S@Interface Systems Inc., Ann Arbor, Mich., said it will report net income for the fourth quarter ended Sept. 30 fell to $470,000, or 11 cents a share, from $805,000, or 19 cents a share, a year earlier.@@@@1@37@@oe@2-2-2013
20497002@unknown@formal@none@1@S@Chairman Carl L. Bixby said the decline occurred although revenue rose 30% to more than $8.3 million from $6.4 million a year earlier.@@@@1@23@@oe@2-2-2013
20497003@unknown@formal@none@1@S@The company, which makes computer parts said fiscal 1989 earnings were "down slightly" from $3.2 million, or 74 cents a share, in fiscal l988.@@@@1@24@@oe@2-2-2013
20497004@unknown@formal@none@1@S@The company said fiscal 1989 revenue increased about 30% to more than $32 million from $25.3 million.@@@@1@17@@oe@2-2-2013
20497005@unknown@formal@none@1@S@Mr. Bixby said that early signs point to improved earnings and revenue in the first quarter of fiscal 1990.@@@@1@19@@oe@2-2-2013
20497006@unknown@formal@none@1@S@"The current backlog of orders is strong throughout the corporation," he said.@@@@1@12@@oe@2-2-2013
20498001@unknown@formal@none@1@S@Priam Corp. said it filed for protection under Chapter 11 of the federal Bankruptcy Code and announced a 35% reduction in its world-wide employment.@@@@1@24@@oe@2-2-2013
20498002@unknown@formal@none@1@S@The filing in bankruptcy court here follows a string of quarterly losses and product glitches for the maker of harddisk drives for minicomputers and microcomputers.@@@@1@25@@oe@2-2-2013
20498003@unknown@formal@none@1@S@Priam had a loss of $25.4 million for the fiscal year ended July 7, compared with year-earlier profit of $543,000, or two cents a share.@@@@1@25@@oe@2-2-2013
20498004@unknown@formal@none@1@S@Revenue for the year fell 13% to $122.7 million.@@@@1@9@@oe@2-2-2013
20498005@unknown@formal@none@1@S@The 200-person staff cutback announced yesterday will bring Priam's employment to about 380 workers, less than half of what it was before a similar, 230-person reduction in August.@@@@1@28@@oe@2-2-2013
20498006@unknown@formal@none@1@S@The company yesterday also said it was scrapping one of its major new products, a 760-megabyte drive, which, while technically proficient, didn't hold much promise of generating substantial orders because financing problems caused a nine-month delay in getting the product to market.@@@@1@42@@oe@2-2-2013
20499001@unknown@formal@none@1@S@The French Economics Ministry approved a planned asset swap between the defense and electronics group Thomson-CSF S.A. and the bank group Credit Lyonnais.@@@@1@23@@oe@2-2-2013
20499002@unknown@formal@none@1@S@The ministry said the swap, details of which were disclosed last Thursday, will allow both state-controlled companies to reinforce operations in their main markets and argued that the move shows the dynamism of France's state-sector concerns.@@@@1@36@@oe@2-2-2013
20499003@unknown@formal@none@1@S@The approval also ends any hope that Banque Nationale de Paris, another state-sector bank, might have had about taking Credit Lyonnais's place in the accord.@@@@1@25@@oe@2-2-2013
20499004@unknown@formal@none@1@S@It hinted over the weekend that it would have been interested in a hook-up with Thomson-CSF.@@@@1@16@@oe@2-2-2013
20499005@unknown@formal@none@1@S@Under details of the accord, Credit Lyonnais will take slightly more than 50% of Thomson-CSF Finance in exchange for about 14% of its own shares.@@@@1@25@@oe@2-2-2013
20499006@unknown@formal@none@1@S@The move will help the bank to keep up with international solvency ratios being phased in by the Bank for International Settlements and will also represent the first time that its voting shares have been held by a party other than the government.@@@@1@43@@oe@2-2-2013
20500001@unknown@formal@none@1@S@Bio-Technology General Corp. received tenders for 97.9% of its 7.5% convertible senior subordinated notes due April 15, 1997, and 96% of its 11% convertible senior subordinated debentures due March 1, 2006.@@@@1@31@@oe@2-2-2013
20500002@unknown@formal@none@1@S@In exchange offers that expired Friday, holders of each $1,000 of notes will receive $250 face amount of Series A 7.5% senior secured convertible notes due Jan. 15, 1995, and 200 common shares.@@@@1@33@@oe@2-2-2013
20500003@unknown@formal@none@1@S@For each $1,000 face amount of debentures, holders received $250 of Series B 11% senior secured convertible notes due Oct. 15, 1998, and 200 common shares.@@@@1@26@@oe@2-2-2013
20500004@unknown@formal@none@1@S@Bio-Technology, a New York maker of genetically engineered products for human and animal health care, said it made the exchange offer to reduce its interest payments.@@@@1@26@@oe@2-2-2013
20501001@unknown@formal@none@1@S@Japanese companies have long been accused of sacrificing profit to boost sales.@@@@1@12@@oe@2-2-2013
20501002@unknown@formal@none@1@S@But Fujitsu Ltd. has taken that practice to a new extreme.@@@@1@11@@oe@2-2-2013
20501003@unknown@formal@none@1@S@Japan's biggest computer maker last week undercut seven competitors to win a contract to design a mapping system for the city of Hiroshima's waterworks.@@@@1@24@@oe@2-2-2013
20501004@unknown@formal@none@1@S@Its bid: one yen, or less than a U.S. penny.@@@@1@10@@oe@2-2-2013
20501005@unknown@formal@none@1@S@The bid created such a furor that Fujitsu said it is now offering to withdraw from the project.@@@@1@18@@oe@2-2-2013
20501006@unknown@formal@none@1@S@"From a common-sense viewpoint, it was not socially acceptable," a Fujitsu spokeswoman said yesterday.@@@@1@14@@oe@2-2-2013
20501007@unknown@formal@none@1@S@Hiroshima city officials couldn't be reached to find out whether they would drop Fujitsu's bid.@@@@1@15@@oe@2-2-2013
20501008@unknown@formal@none@1@S@Fujitsu said it issued the low bid because it wanted a foot in the door of a potentially lucrative market.@@@@1@20@@oe@2-2-2013
20501009@unknown@formal@none@1@S@"We desperately wanted the contract because we want experience in the field," the Fujitsu spokeswoman said.@@@@1@16@@oe@2-2-2013
20501010@unknown@formal@none@1@S@"We expect a big market in the future, so in the long term it will be profitable.@@@@1@17@@oe@2-2-2013
20501011@unknown@formal@none@1@S@It's a kind of an investment."@@@@1@6@@oe@2-2-2013
20501012@unknown@formal@none@1@S@Hiroshima's waterworks bureau said the municipal government had budgeted about 11 million yen ($77,500) for the project.@@@@1@17@@oe@2-2-2013
20501013@unknown@formal@none@1@S@"I was flabbergasted," Tatsuhara Yamane, head of the bureau, was quoted by Kyodo news service as saying.@@@@1@17@@oe@2-2-2013
20501014@unknown@formal@none@1@S@"I understand the firm's enthusiasm in getting the deal, but such a large company would have been better off showing a little more discretion."@@@@1@24@@oe@2-2-2013
20501015@unknown@formal@none@1@S@Indeed, Fujitsu officials admitted they may have been a little overzealous.@@@@1@11@@oe@2-2-2013
20501016@unknown@formal@none@1@S@The Fujitsu spokeswoman said headquarter officials didn't approve the bid in advance and will take measures so this kind of thing doesn't happen in the future.@@@@1@26@@oe@2-2-2013
20501017@unknown@formal@none@1@S@"It's contrary to common sense," she added.@@@@1@7@@oe@2-2-2013
20501018@unknown@formal@none@1@S@Specifically, Fujitsu won the right to design the specifications for a computerized system that will show water lines throughout the city.@@@@1@21@@oe@2-2-2013
20501019@unknown@formal@none@1@S@The system could be used in a fire or earthquake to locate problems, among other things.@@@@1@16@@oe@2-2-2013
20501020@unknown@formal@none@1@S@A waterworks official said Fujitsu will have to design the system so it would be compatible with other makers' equipment.@@@@1@20@@oe@2-2-2013
20501021@unknown@formal@none@1@S@But industry officials expressed concern that the initial project might give Fujitsu an edge in winning more lucrative contracts later.@@@@1@20@@oe@2-2-2013
20501022@unknown@formal@none@1@S@Fujitsu said it hopes the Hiroshima contract will help it secure pacts with other municipalities.@@@@1@15@@oe@2-2-2013
20501023@unknown@formal@none@1@S@Japanese local governments are expected to invest heavily in computer systems over the next few years, and many companies expect that field to provide substantial revenue.@@@@1@26@@oe@2-2-2013
20501024@unknown@formal@none@1@S@"In the near future, it will be a big market, not just for waterworks, but for all mapping systems," the Fujitsu spokeswoman said.@@@@1@23@@oe@2-2-2013
20501025@unknown@formal@none@1@S@"We can expect a hundreds-of-billions-of-yen market."@@@@1@6@@oe@2-2-2013
20501026@unknown@formal@none@1@S@No foreign companies bid on the Hiroshima project, according to the bureau.@@@@1@12@@oe@2-2-2013
20501027@unknown@formal@none@1@S@But the Japanese practice of deep discounting often is cited by Americans as a classic barrier to entry in Japan's market.@@@@1@21@@oe@2-2-2013
20501028@unknown@formal@none@1@S@Earlier this year, the U.S. complained that Japan's supercomputer makers were effectively closing out foreign competitors by slashing prices as much as 90% for universities.@@@@1@25@@oe@2-2-2013
20501029@unknown@formal@none@1@S@Fujitsu wasn't the only company willing to sacrifice profit on the project.@@@@1@12@@oe@2-2-2013
20501030@unknown@formal@none@1@S@Three competitors bid between 300,000 yen and 500,000 yen, according to the Hiroshima government office.@@@@1@15@@oe@2-2-2013
20501031@unknown@formal@none@1@S@Other bids ranged from about 10 million yen to 29 million yen.@@@@1@12@@oe@2-2-2013
20502001@unknown@formal@none@1@S@American Airlines will expand its trans-Atlantic service 30% beginning next year with six new daily flights between the U.S. and Europe, officials announced yesterday.@@@@1@24@@oe@2-2-2013
20502002@unknown@formal@none@1@S@American, a unit of AMR Corp., is the nation's largest airline.@@@@1@11@@oe@2-2-2013
20502003@unknown@formal@none@1@S@The new nonstop flights, starting next May, will include Chicago-Warsaw, Chicago-Helsinki, Miami-Madrid, Dallas-Barcelona, a second daily Chicago-Paris flight and a second daily Chicago-Manchester flight, the officials said.@@@@1@27@@oe@2-2-2013
20502004@unknown@formal@none@1@S@Chicago has the largest population of citizens of Polish heritage in any city outside Poland.@@@@1@15@@oe@2-2-2013
20502005@unknown@formal@none@1@S@With the new service, American will fly 161 flights a week to 17 European cities.@@@@1@15@@oe@2-2-2013
20502006@unknown@formal@none@1@S@The additions solidify American's position as the third-largest U.S. transatlantic carrier, behind PanAm Corp.'s Pan American World Airways and Trans World Airlines.@@@@1@22@@oe@2-2-2013
20503001@unknown@formal@none@1@S@Karstadt AG said sales for its domestic group rose 4.6% in the first nine months of 1989 from a year earlier.@@@@1@21@@oe@2-2-2013
20503002@unknown@formal@none@1@S@The West German retailing group also said that the results of the first three quarters suggest it will meet its profit goal for the year.@@@@1@25@@oe@2-2-2013
20503003@unknown@formal@none@1@S@Earnings at the department-store division, which generates the bulk of profit, should remain at least stable, while income at the mail-order and tourism units is likely to fall slightly from 1988, the company said.@@@@1@34@@oe@2-2-2013
20503004@unknown@formal@none@1@S@Karstadt didn't give any group sales or profit figures for the first nine months.@@@@1@14@@oe@2-2-2013
20504001@unknown@formal@none@1@S@Georgia-Pacific Corp. offered to acquire Great Northern Nekoosa Corp. for $58 a share, or about $3.18 billion.@@@@1@17@@oe@2-2-2013
20504002@unknown@formal@none@1@S@The offer capped a week of rumors that Georgia-Pacific, an Atlanta-based forest-products company, was considering making a bid for Nekoosa, a paper-products concern based in Norwalk, Conn.@@@@1@27@@oe@2-2-2013
20504003@unknown@formal@none@1@S@Executives at Nekoosa couldn't be reached, and officials at Georgia Pacific declined to comment.@@@@1@14@@oe@2-2-2013
20504004@unknown@formal@none@1@S@Analysts, however, were surprised because the tender offer appeared unsolicited.@@@@1@10@@oe@2-2-2013
20504005@unknown@formal@none@1@S@"It's quite a bombshell," said one, adding that the offer could spark a period of industry consolidation.@@@@1@17@@oe@2-2-2013
20504006@unknown@formal@none@1@S@The two companies would appear to be a logical fit because of their complementary lines, and analysts described the offer, representing a 36% premium over Nekoosa's market price, as fair.@@@@1@30@@oe@2-2-2013
20504007@unknown@formal@none@1@S@Nekoosa closed yesterday at $42.75, up $2.75, in New York Stock Exchange composite trading.@@@@1@14@@oe@2-2-2013
20504008@unknown@formal@none@1@S@But industry observers still questioned whether Georgia Pacific will ultimately prevail.@@@@1@11@@oe@2-2-2013
20504009@unknown@formal@none@1@S@"You have to watch out for counterbids," said one analyst. "@@@@1@11@@oe@2-2-2013
20504010@unknown@formal@none@1@S@International Paper or Weyerhaeuser could step in."@@@@1@7@@oe@2-2-2013
20504011@unknown@formal@none@1@S@The bid for Great Northern, a notice of which appears in an advertisement in today's Wall Street Journal, is the first big takeover offer since the collapse of a $6.79 billion buy-out of United Airlines parent UAL Corp. Oct. 13.@@@@1@40@@oe@2-2-2013
20504012@unknown@formal@none@1@S@That collapse, following on the heels of disarray in the market for high-risk, high-yield bonds, cast doubt on the entire takeover business, which has fueled both big profits among Wall Street securities firms and big gains in the stock market generally.@@@@1@41@@oe@2-2-2013
20504013@unknown@formal@none@1@S@While Georgia-Pacific's stock has outperformed the market in the past two years, Nekoosa has lagged the market in the same period.@@@@1@21@@oe@2-2-2013
20504014@unknown@formal@none@1@S@Yesterday's rise in Nekoosa's share price came on volume of 786,700 shares, four times the daily average.@@@@1@17@@oe@2-2-2013
20504015@unknown@formal@none@1@S@According to Dow Jones Professional Investor Report, options trading in Nekoosa was also heavy, ranking only behind International Business Machines Corp. and UAL in volume on the Chicago Board Options Exchange.@@@@1@31@@oe@2-2-2013
20504016@unknown@formal@none@1@S@According to the Value Line Investment Survey, demand for Nekoosa's commodity paper has weakened, prompting earnings to decline by 6.6% in the third quarter ended Sept. 30.@@@@1@27@@oe@2-2-2013
20504017@unknown@formal@none@1@S@Value Line added, "With discounts widening on business papers, and with newsprint and corrugated shipments flat, we expect negative earnings comparisons through next year."@@@@1@24@@oe@2-2-2013
20504018@unknown@formal@none@1@S@By contrast, Value Line said Georgia-Pacific "is in a comparatively good position to deal with weakening paper markets," because its production is concentrated not in the Northwest but in the South, where it should be able to avoid some of the cost pressures from rising wood-chip prices.@@@@1@47@@oe@2-2-2013
20504019@unknown@formal@none@1@S@Also, it isn't exposed to the weakening newsprint business, and is strong in the less-cyclical tissue business.@@@@1@17@@oe@2-2-2013
20504020@unknown@formal@none@1@S@The purchase of Nekoosa would easily eclipse Georgia-Pacific's $530 million acquisition of Brunswick Pulp & Paper Co. last year.@@@@1@19@@oe@2-2-2013
20504021@unknown@formal@none@1@S@That acquisition, which also included the assumption of $135 million in debt, was designed to allow Georgia-Pacific to capitalize on the strong demand for softwood pulp, as well as reduce its exposure to the housing market.@@@@1@36@@oe@2-2-2013
20504022@unknown@formal@none@1@S@Wasserstein Perella & Co. is the dealer-manager for the offer, which will expire Nov. 29, unless extended.@@@@1@17@@oe@2-2-2013
20505001@unknown@formal@none@1@S@Ratners Group PLC's U.S. subsidiary has agreed to acquire jewelry retailer Weisfield's Inc. for $50 a share, or about $55 million.@@@@1@21@@oe@2-2-2013
20505002@unknown@formal@none@1@S@Weisfield's shares soared on the announcement yesterday, closing up $11 to close at $50 in national over-the-counter trading.@@@@1@18@@oe@2-2-2013
20505003@unknown@formal@none@1@S@Ratners and Weisfield's said they reached an agreement in principle for the acquisition of Weisfield's by Sterling Inc.@@@@1@18@@oe@2-2-2013
20505004@unknown@formal@none@1@S@The companies said the acquisition is subject to a definitive agreement.@@@@1@11@@oe@2-2-2013
20505005@unknown@formal@none@1@S@They said they expect the transaction to be completed by Dec. 15.@@@@1@12@@oe@2-2-2013
20505006@unknown@formal@none@1@S@Weisfield's, based in Seattle, Wash., currently operates 87 specialty jewelry stores in nine states.@@@@1@14@@oe@2-2-2013
20505007@unknown@formal@none@1@S@In the fiscal year ended Jan. 31, the company reported sales of $59.5 million and pretax profit of $2.9 million.@@@@1@20@@oe@2-2-2013
20505008@unknown@formal@none@1@S@Ratners, which controls 25% of the British jewelry market, would increase the number of its U.S. stores to about 450 stores from 360.@@@@1@23@@oe@2-2-2013
20505009@unknown@formal@none@1@S@It has said it hopes to control 5% of jewelry business in the U.S. by 1992; currently it controls about 2%.@@@@1@21@@oe@2-2-2013
20506001@unknown@formal@none@1@S@McDonnell Douglas Corp. received contracts totaling $244.8 million for 72 F-A-18 aircraft for the Navy and helicopter spare parts for the Army.@@@@1@22@@oe@2-2-2013
20506002@unknown@formal@none@1@S@Aerojet General Corp., a unit of GenCorp Inc., was awarded a $40.1 million Air Force contract for Minuteman missile rocket motors.@@@@1@21@@oe@2-2-2013
20506003@unknown@formal@none@1@S@Rockwell International Corp. received a $26.7 million Navy contract for submarine ballistic missiles.@@@@1@13@@oe@2-2-2013
20506004@unknown@formal@none@1@S@Honeywell Inc. got a $22.3 million Navy contract for aircraft missile warning sets.@@@@1@13@@oe@2-2-2013
20506005@unknown@formal@none@1@S@Beech Aircraft Corp., a unit of Raytheon Co., received an $11.5 million Air Force contract for C-12 aircraft support.@@@@1@19@@oe@2-2-2013
20507001@unknown@formal@none@1@S@Analog Devices Inc. said it may purchase as many as one million of its common shares over the next several months.@@@@1@21@@oe@2-2-2013
20507002@unknown@formal@none@1@S@Analog also said that a one million share buy-back program announced in March is substantially complete.@@@@1@16@@oe@2-2-2013
20507003@unknown@formal@none@1@S@The company, which makes integrated circuits and other electronic parts, now has about 47 million common shares outstanding.@@@@1@18@@oe@2-2-2013
20507004@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Analog Devices closed at $8.875, up 25 cents.@@@@1@16@@oe@2-2-2013
20508001@unknown@formal@none@1@S@John Lehman's editorial-page article on the Pentagon as a haunted house omits the real roots of its ghost population ("In the Pentagon, the Undead Walk," Oct. 18).@@@@1@27@@oe@2-2-2013
20508002@unknown@formal@none@1@S@The media's treatment of the Defense Department during the Vietnam War, the Carter administration's denigration of the military, and the public scapegoating of Lt. Col. Oliver North have all served to emasculate the poor souls who live there.@@@@1@38@@oe@2-2-2013
20508003@unknown@formal@none@1@S@The resulting haunted house tends to reward followership, not leadership, it creates guilt about wearing the uniform, and raises doubt about having the will to fulfill the ghosts' role, i.e., to be able to win if called on.@@@@1@38@@oe@2-2-2013
20508004@unknown@formal@none@1@S@Perhaps the Halloween season is a good time for Congress to be looking at funding for some ghostbusting equipment.@@@@1@19@@oe@2-2-2013
20508005@unknown@formal@none@1@S@Mike Greece Former Air Force Career Officer New York@@@@1@9@@oe@2-2-2013
20508006@unknown@formal@none@1@S@Where does Mr. Lehman get off castigating Gen. George Marshall for muscling in on naval prerogatives?@@@@1@16@@oe@2-2-2013
20508007@unknown@formal@none@1@S@Ever since the days of Alfred Thayer Mahan (U.S. naval officer and naval historian) and Teddy Roosevelt the Navy has been the service most favored by Washington officialdom.@@@@1@28@@oe@2-2-2013
20508008@unknown@formal@none@1@S@Mr. Lehman overlooks the fact that the Navy possesses its own air force (the carrier fleet) and its own army (the Marines), which in turn has its own air force.@@@@1@30@@oe@2-2-2013
20508009@unknown@formal@none@1@S@Of course these turf battles are unseemly, wasteful and potentially dangerous and should be resolved in the interest of national security, but Mr. Lehman seems to be part of the problem rather than part of the answer.@@@@1@37@@oe@2-2-2013
20508010@unknown@formal@none@1@S@L.H. Blum Beaumont, Texas@@@@1@4@@oe@2-2-2013
20508011@unknown@formal@none@1@S@I agree with Mr. Lehman 100%!@@@@1@6@@oe@2-2-2013
20508012@unknown@formal@none@1@S@Isn't this the same guy who resigned as Navy secretary because he couldn't get his 1,000-ship Navy?@@@@1@17@@oe@2-2-2013
20508013@unknown@formal@none@1@S@I personally do not want to hasten Mr. Lehman's demise, but I can see him figuring prominently in his own article.@@@@1@21@@oe@2-2-2013
20508014@unknown@formal@none@1@S@Carl Banerian Jr. Birmingham, Mich.@@@@1@5@@oe@2-2-2013
20509001@unknown@formal@none@1@S@For the sixth time in as many years, Continental Airlines has a new senior executive.@@@@1@15@@oe@2-2-2013
20509002@unknown@formal@none@1@S@Gone is D. Joseph Corr, the airline's chairman, chief executive and president, appointed only last December.@@@@1@16@@oe@2-2-2013
20509003@unknown@formal@none@1@S@Mr. Corr resigned to pursue other business interests, the airline said.@@@@1@11@@oe@2-2-2013
20509004@unknown@formal@none@1@S@He could not be reached for comment.@@@@1@7@@oe@2-2-2013
20509005@unknown@formal@none@1@S@Succeeding him as chairman and chief executive will be Frank Lorenzo, chairman and chief executive of Continental's parent, Texas Air Corp.@@@@1@21@@oe@2-2-2013
20509006@unknown@formal@none@1@S@Mr. Lorenzo, 49 years old, is reclaiming the job that was his before Mr. Corr signed on.@@@@1@17@@oe@2-2-2013
20509007@unknown@formal@none@1@S@The airline also named Mickey Foret as president.@@@@1@8@@oe@2-2-2013
20509008@unknown@formal@none@1@S@Mr. Foret, 44, is a 15-year veteran of Texas Air and Texas International Airlines, its predecessor.@@@@1@16@@oe@2-2-2013
20509009@unknown@formal@none@1@S@Most recently he had been executive vice president for planning and finance at Texas Air.@@@@1@15@@oe@2-2-2013
20509010@unknown@formal@none@1@S@Top executives at Continental haven't lasted long, especially those recruited from outside.@@@@1@12@@oe@2-2-2013
20509011@unknown@formal@none@1@S@But Mr. Corr's tenure was shorter than most.@@@@1@8@@oe@2-2-2013
20509012@unknown@formal@none@1@S@The 48-year-old Mr. Corr was hired largely because he was credited with returning Trans World Airlines Inc. to profitability while he was its president from 1986 to 1988.@@@@1@28@@oe@2-2-2013
20509013@unknown@formal@none@1@S@Before that, he was an executive with a manufacturing concern.@@@@1@10@@oe@2-2-2013
20509014@unknown@formal@none@1@S@At Continental he cut money-losing operations, which helped produce a modest profit in this year's second quarter.@@@@1@17@@oe@2-2-2013
20509015@unknown@formal@none@1@S@But Mr. Corr, a stunt pilot in his spare time, was understood to be frustrated by what he regarded as limited freedom under Mr. Lorenzo.@@@@1@25@@oe@2-2-2013
20509016@unknown@formal@none@1@S@While not officially an executive at Continental during Mr. Corr's tenure, Mr. Lorenzo is known for keeping close tabs on Texas Air's operating units.@@@@1@24@@oe@2-2-2013
20509017@unknown@formal@none@1@S@Continental is Texas Air's flagship and was built painfully to its present size under Mr. Lorenzo after emerging from bankruptcy proceedings in 1986.@@@@1@23@@oe@2-2-2013
20509018@unknown@formal@none@1@S@It's unclear what role, if any, Mr. Lorenzo's recent exploration of a possible sale of a stake in Continental had in Mr. Corr's departure.@@@@1@24@@oe@2-2-2013
20509019@unknown@formal@none@1@S@One source familiar with the airline said, however, that Mr. Corr wasn't informed in advance during the summer when Mr. Lorenzo began discussions with potential buyers.@@@@1@26@@oe@2-2-2013
20509020@unknown@formal@none@1@S@During his tenure, Mr. Corr attempted through a series of meetings to inform managers of some of the company's future plans, traveled widely to talk to employees and backed training sessions designed to improve the carrier's image.@@@@1@37@@oe@2-2-2013
20509021@unknown@formal@none@1@S@Mr. Foret is one of a handful of executives Mr. Lorenzo has relied on over the years.@@@@1@17@@oe@2-2-2013
20509022@unknown@formal@none@1@S@Previously, he had served in financial planning positions at the company's Eastern Airlines unit.@@@@1@14@@oe@2-2-2013
20509023@unknown@formal@none@1@S@Another longtime ally, Phil Bakes, currently heads Eastern, now in Chapter 11 bankruptcy proceedings.@@@@1@14@@oe@2-2-2013
20509024@unknown@formal@none@1@S@Mr. Bakes previously had a turn at running Continental.@@@@1@9@@oe@2-2-2013
20509025@unknown@formal@none@1@S@Among the other alumni are Stephen Wolf, now chairman of UAL Inc., and Thomas Plaskett, president of Pan Am Corp.@@@@1@20@@oe@2-2-2013
20510001@unknown@formal@none@1@S@Doskocil Cos. said its bank-debt payments have been extended until May 31, 1990, to give it more time to sell its Wilson Foods Corp. retail and fresh meat operations.@@@@1@29@@oe@2-2-2013
20510002@unknown@formal@none@1@S@The company was to repay $58 million in debt on Dec. 31 and $15 million on March 31.@@@@1@18@@oe@2-2-2013
20510003@unknown@formal@none@1@S@The company acquired the debt when it paid $155 million to purchase Wilson last year.@@@@1@15@@oe@2-2-2013
20510004@unknown@formal@none@1@S@An agreement to sell the Wilson assets for $150 million in cash and notes collapsed in late September, when the buyer, a company controlled by George Gillett, couldn't secure financing.@@@@1@30@@oe@2-2-2013
20511001@unknown@formal@none@1@S@Companies listed below reported quarterly profit substantially different from the average of analysts' estimates.@@@@1@14@@oe@2-2-2013
20511002@unknown@formal@none@1@S@The companies are followed by at least three analysts, and had a minimum five-cent change in actual earnings per share.@@@@1@20@@oe@2-2-2013
20511003@unknown@formal@none@1@S@Estimated and actual results involving losses are omitted.@@@@1@8@@oe@2-2-2013
20511004@unknown@formal@none@1@S@The percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past 30 days.@@@@1@23@@oe@2-2-2013
20511005@unknown@formal@none@1@S@Otherwise, actual profit is compared with the 300-day estimate.@@@@1@9@@oe@2-2-2013
20512001@unknown@formal@none@1@S@Charles D. Way, president of this restaurant operator, assumed the additional post of chief executive officer.@@@@1@16@@oe@2-2-2013
20512002@unknown@formal@none@1@S@He succeeds Alvin A. McCall in the position.@@@@1@8@@oe@2-2-2013
20512003@unknown@formal@none@1@S@Mr. McCall will remain chairman.@@@@1@5@@oe@2-2-2013
20513001@unknown@formal@none@1@S@Australia's inflation is expected to rise as high as 8.3% in the quarter ending March 30, but could fall to around 7% by June, according to economists.@@@@1@27@@oe@2-2-2013
20513002@unknown@formal@none@1@S@The government said the consumer price index rose 2.3% in the quarter ended Sept. 30 from the previous quarter and 8% from a year ago.@@@@1@25@@oe@2-2-2013
20514001@unknown@formal@none@1@S@Charles A. Pearce, 66 years old, will retire from his post as chief executive officer of this bank holding company effective Dec. 31.@@@@1@23@@oe@2-2-2013
20514002@unknown@formal@none@1@S@He will remain chairman.@@@@1@4@@oe@2-2-2013
20514003@unknown@formal@none@1@S@Charles R. Simpson Jr., 46, president and chief operating officer, will assume the chief executive's post.@@@@1@16@@oe@2-2-2013
20515001@unknown@formal@none@1@S@It is a peaceful time in this part of western India.@@@@1@11@@oe@2-2-2013
20515002@unknown@formal@none@1@S@The summer crop is harvested, winter sowing has yet to begin.@@@@1@11@@oe@2-2-2013
20515003@unknown@formal@none@1@S@Farmers in loose turbans and fancy earrings spend their afternoons laughing and gossiping at the markets.@@@@1@16@@oe@2-2-2013
20515004@unknown@formal@none@1@S@One could imagine such a lull in the lives of the Arabs before the quadrupling of oil prices.@@@@1@18@@oe@2-2-2013
20515005@unknown@formal@none@1@S@For just as the Arabs were in the 1960s, the farmers of Sidhpur are on the brink of global power and fame.@@@@1@22@@oe@2-2-2013
20515006@unknown@formal@none@1@S@The Arabs had merely oil.@@@@1@5@@oe@2-2-2013
20515007@unknown@formal@none@1@S@These farmers may have a grip on the world's very heart.@@@@1@11@@oe@2-2-2013
20515008@unknown@formal@none@1@S@Or, at least, its heart disease.@@@@1@6@@oe@2-2-2013
20515009@unknown@formal@none@1@S@That is because Sidhpur has a near-monopoly on the world's supply of flea seed, also known as flea wort or, in Western parlance, psyllium: a tiny, tasteless, obscure seed that, according to early research, may reduce cholesterol levels in the blood.@@@@1@41@@oe@2-2-2013
20515010@unknown@formal@none@1@S@Ever since the link to cholesterol was disclosed, Americans have begun scarfing up psyllium in their breakfast cereals.@@@@1@18@@oe@2-2-2013
20515011@unknown@formal@none@1@S@If further research proves the seed's benefits, this dusty farm district could become the epicenter of a health-food fad to rival all fads since cod-liver oil.@@@@1@26@@oe@2-2-2013
20515012@unknown@formal@none@1@S@"This seed's not grown anywhere else in India, or anywhere else in the world," says T.V. Krishnamurthy, a vice president of Procter & Gamble India Ltd., a major psyllium buyer and promoter.@@@@1@32@@oe@2-2-2013
20515013@unknown@formal@none@1@S@"The proper climatic conditions don't exist in many places in the world."@@@@1@12@@oe@2-2-2013
20515014@unknown@formal@none@1@S@Arvind Patel, a processor and exporter of the seed, raves: "If psyllium takes the place of oat bran, it will be huge."@@@@1@22@@oe@2-2-2013
20515015@unknown@formal@none@1@S@Whether psyllium makes Sidhpur's fortune depends on cholesterol-fearing Americans, the U.S. Food and Drug Administration and, of course, the outcome of further research.@@@@1@23@@oe@2-2-2013
20515016@unknown@formal@none@1@S@Only one thing is certain here: Pysllium is likely to remain solely an export item from Sidhpur for a long time.@@@@1@21@@oe@2-2-2013
20515017@unknown@formal@none@1@S@Local farmers say it is as good a cash crop as mustard or fenugreek, a legume.@@@@1@16@@oe@2-2-2013
20515018@unknown@formal@none@1@S@But they have no desire to eat a bowl of psyllium each morning, and, perhaps, little need: lean, frugal vegetarians, the farmers are innocents in the clogged, treacherous world of cholesterol.@@@@1@31@@oe@2-2-2013
20515019@unknown@formal@none@1@S@Psyllium is an annual herb, Plantago ovata, that has been used for centuries by folk doctors here, mainly as a laxative and anti-diarrheal.@@@@1@23@@oe@2-2-2013
20515020@unknown@formal@none@1@S@As such, the soluble fiber has an almost fanatic following in northern India.@@@@1@13@@oe@2-2-2013
20515021@unknown@formal@none@1@S@"I can assure you," attests a 25-year-old lawyer in New Delhi, with a meaningfully raised eyebrow, "from personal experience, it works."@@@@1@21@@oe@2-2-2013
20515022@unknown@formal@none@1@S@A prominent businessman in Bombay gives a similar testimonial: "I have been taking it daily since 1961.@@@@1@17@@oe@2-2-2013
20515023@unknown@formal@none@1@S@" Folk doctors also prescribe it for kidney, bladder and urethra problems, duodenal ulcers and hemorrhoids.@@@@1@16@@oe@2-2-2013
20515024@unknown@formal@none@1@S@Some apply it to gouty joints.@@@@1@6@@oe@2-2-2013
20515025@unknown@formal@none@1@S@The plant has a hairy stem that produces flowers and diminutive seeds.@@@@1@12@@oe@2-2-2013
20515026@unknown@formal@none@1@S@It is the seed's colorlessness and size -- 1,000 of them weigh only 1.5 grams, or about as much as two paper clips -- that explain the historical allusions to fleas.@@@@1@31@@oe@2-2-2013
20515027@unknown@formal@none@1@S@The transluscent husk of the seed is removed, sifted and crushed; the seed itself is fed to animals.@@@@1@18@@oe@2-2-2013
20515028@unknown@formal@none@1@S@Some 90% of the crop, which was worth $26 million last year, is exported.@@@@1@14@@oe@2-2-2013
20515029@unknown@formal@none@1@S@For decades, psyllium husk has been the main ingredient in such laxatives as Procter & Gamble Co.'s Metamucil, the top-selling brand in the U.S., and Ciba-Geigy Corp.'s Fiberall.@@@@1@28@@oe@2-2-2013
20515030@unknown@formal@none@1@S@But some time ago, researchers discovered that soluble fibers also lower cholesterol levels in the blood.@@@@1@16@@oe@2-2-2013
20515031@unknown@formal@none@1@S@Cincinnati-based P&G took an interest; it ordered two studies on psyllium and cholesterol.@@@@1@13@@oe@2-2-2013
20515032@unknown@formal@none@1@S@One of the studies, done at the University of Minnesota, tested 75 people with raised cholesterol levels.@@@@1@17@@oe@2-2-2013
20515033@unknown@formal@none@1@S@After 16 weeks, the group that took three daily teaspoons of Metamucil saw a significant dip in their general cholesterol levels, and an even larger reduction in levels of low-density lipoproteins, the so-called bad cholesterol.@@@@1@35@@oe@2-2-2013
20515034@unknown@formal@none@1@S@In late 1987, P&G asked the FDA for approval to market Metamucil as the first non-prescription, cholesterol-lowering product in the@@@@1@20@@oe@2-2-2013
20515035@unknown@formal@none@1@S@In April, the psyllium bandwagon got more crowded.@@@@1@8@@oe@2-2-2013
20515036@unknown@formal@none@1@S@General Mills Inc., the food giant, launched a breakfast cereal called Benefit, containing psyllium, oat, wheat and beet bran; the words, "reduce cholesterol" were prominently displayed on its package.@@@@1@29@@oe@2-2-2013
20515037@unknown@formal@none@1@S@In September, Kellogg Co. launched a competing psyllium-fortified cereal called Heartwise.@@@@1@11@@oe@2-2-2013
20515038@unknown@formal@none@1@S@Suddenly, on television, in advertisements and on their cereal boxes, Americans were inundated with news about the obscure seed.@@@@1@19@@oe@2-2-2013
20515039@unknown@formal@none@1@S@The flood of claims and counter-claims worried consumers and actually hurt sales of the new cereals.@@@@1@16@@oe@2-2-2013
20515040@unknown@formal@none@1@S@This month, the Food and Drug Administration expressed concern that Americans might someday, in various forms, ingest too much psyllium.@@@@1@20@@oe@2-2-2013
20515041@unknown@formal@none@1@S@Currently, there is a lull in the psyllium war.@@@@1@9@@oe@2-2-2013
20515042@unknown@formal@none@1@S@The FDA has asked Kellogg and General Mills to show research that their cereals are safe.@@@@1@16@@oe@2-2-2013
20515043@unknown@formal@none@1@S@It also ordered P&G to produce more studies to buttress its claims that Metamucil can lower cholesterol.@@@@1@17@@oe@2-2-2013
20515044@unknown@formal@none@1@S@But the agency hasn't yanked psyllium off store shelves.@@@@1@9@@oe@2-2-2013
20515045@unknown@formal@none@1@S@If the FDA approves the new uses of psyllium, other companies are expected to rush to market with psyllium products.@@@@1@20@@oe@2-2-2013
20515046@unknown@formal@none@1@S@"It's going to be a sensational thing," says Mr. Krishnamurthy of P&G in Bombay.@@@@1@14@@oe@2-2-2013
20515047@unknown@formal@none@1@S@Says psyllium exporter Mr. Patel: "I just got back yesterday from the U.S.@@@@1@13@@oe@2-2-2013
20515048@unknown@formal@none@1@S@In the newspapers, on the radio and TV, psyllium is everywhere."@@@@1@11@@oe@2-2-2013
20515049@unknown@formal@none@1@S@But the news of the boom has yet to trickle down to the farmers.@@@@1@14@@oe@2-2-2013
20515050@unknown@formal@none@1@S@They only know of one use for the crop, as a laxative, and with psyllium prices currently languishing in the wake of a bumper crop, they think of the seed as a marginal crop, something to grow between summer wheat crops.@@@@1@41@@oe@2-2-2013
20515051@unknown@formal@none@1@S@"Psyllium's not a good crop," complains Sooraji Jath, a 26-year-old farmer from the village of Lakshmipura. "@@@@1@17@@oe@2-2-2013
20515052@unknown@formal@none@1@S@You get a rain at the wrong time and the crop is ruined."@@@@1@13@@oe@2-2-2013
20515053@unknown@formal@none@1@S@Even at the Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion Council, the government agency that promotes the seed, the psyllium boom is distant thunder.@@@@1@24@@oe@2-2-2013
20515054@unknown@formal@none@1@S@The staff brags about psyllium's hefty contribution to American regularity, without quite grasping the implications of the research on cholesterol.@@@@1@20@@oe@2-2-2013
20515055@unknown@formal@none@1@S@The council's annual report has psyllium on its last page, lumped with such unglamorous export items as sarsaparilla and "Nux vomica," a plant that induces vomiting.@@@@1@26@@oe@2-2-2013
20515056@unknown@formal@none@1@S@In one way, the psyllium middlemen -- the buyers and exporters -- are glad to keep news of the boom to themselves.@@@@1@22@@oe@2-2-2013
20515057@unknown@formal@none@1@S@They want psyllium prices low for their purchases next year.@@@@1@10@@oe@2-2-2013
20515058@unknown@formal@none@1@S@But there's a catch.@@@@1@4@@oe@2-2-2013
20515059@unknown@formal@none@1@S@Sidhpur and adjacent districts are the only places in the world where psyllium is grown in large quantities.@@@@1@18@@oe@2-2-2013
20515060@unknown@formal@none@1@S@This is partly due to the particular demands of the crop.@@@@1@11@@oe@2-2-2013
20515061@unknown@formal@none@1@S@Psyllium needs sandy soil, dew during the first few weeks, and then total dryness when its seeds are maturing.@@@@1@19@@oe@2-2-2013
20515062@unknown@formal@none@1@S@Small crops are grown in Pakistan, France, Spain, Italy, Belgium and Brazil, but their quality can't compare to that of Indian psyllium.@@@@1@22@@oe@2-2-2013
20515063@unknown@formal@none@1@S@Big buyers like Procter & Gamble say there are other spots on the globe, and in India, where the seed could be grown.@@@@1@23@@oe@2-2-2013
20515064@unknown@formal@none@1@S@"It's not a crop that can't be doubled or tripled," says Mr. Krishnamurthy.@@@@1@13@@oe@2-2-2013
20515065@unknown@formal@none@1@S@But no one has made a serious effort to transplant the crop.@@@@1@12@@oe@2-2-2013
20515066@unknown@formal@none@1@S@In Sidhpur, it is almost time to sow this year's crop.@@@@1@11@@oe@2-2-2013
20515067@unknown@formal@none@1@S@Many farmers, too removed to glean psyllium's new sparkle in the West, have decided to plant mustard, fennel, cumin, fenugreek or castor-oil seeds.@@@@1@23@@oe@2-2-2013
20515068@unknown@formal@none@1@S@Mr. Jath is thinking of passing up psyllium altogether this year in favor of a crop with a future such as cumin or fennel.@@@@1@24@@oe@2-2-2013
20515069@unknown@formal@none@1@S@"Maybe I'll plant castor-oil seeds."@@@@1@5@@oe@2-2-2013
20515070@unknown@formal@none@1@S@His brother, Parkhaji, whose head is swathed in a gorgeous crimson turban, nods vigorous assent.@@@@1@15@@oe@2-2-2013
20515071@unknown@formal@none@1@S@So when next year's psyllium crop is harvested in March, it may be smaller than the 16,000 metric tons of the past few years -- right at the crest of the psyllium boom.@@@@1@33@@oe@2-2-2013
20515072@unknown@formal@none@1@S@And the world could experience its first psyllium shortage.@@@@1@9@@oe@2-2-2013
20516001@unknown@formal@none@1@S@Kellwood Co. said it completed a previously announced acquisition of Crowntuft Manufacturing Corp., a New York-based maker of chenille robes and lounge wear.@@@@1@23@@oe@2-2-2013
20516002@unknown@formal@none@1@S@The apparel maker wouldn't disclose terms of the agreement.@@@@1@9@@oe@2-2-2013
20516003@unknown@formal@none@1@S@Kellwood said Gabriel Hakim Sr., president of Crowntuft, will continue to head Crowntuft's management group.@@@@1@15@@oe@2-2-2013
20517001@unknown@formal@none@1@S@A seat on the Chicago Mercantile Exchange was sold for $416,000, down $36,000 from the previous sale Oct.@@@@1@18@@oe@2-2-2013
20517002@unknown@formal@none@1@S@Seats currently are quoted at $410,000 bid, $425,000 asked.@@@@1@9@@oe@2-2-2013
20517003@unknown@formal@none@1@S@The record price for a full membership on the exchange is $550,000, set March 9, 1989.@@@@1@16@@oe@2-2-2013
20518001@unknown@formal@none@1@S@Small businesses say a recent trend is like a dream come true: more-affordable rates for employee-health insurance, initially at least.@@@@1@20@@oe@2-2-2013
20518002@unknown@formal@none@1@S@But then they wake up to a nightmare.@@@@1@8@@oe@2-2-2013
20518003@unknown@formal@none@1@S@The reasonable first-year rates can be followed by increases of 60% or more if a covered employee files a major claim, they complain.@@@@1@23@@oe@2-2-2013
20518004@unknown@formal@none@1@S@Insurance premiums for one small Maryland concern went up 130% in less than two years, the last increase coming after one of its three workers developed a herniated disk.@@@@1@29@@oe@2-2-2013
20518005@unknown@formal@none@1@S@"There's a distinct possibility that I may lose my job over this," the employee, Karen Allen, of Floor Covering Resources, Kensington, Md., recently told a congressional hearing.@@@@1@27@@oe@2-2-2013
20518006@unknown@formal@none@1@S@She said her employer can't afford the rate increases, and she fears she won't find another job with a benefit plan covering her ailment.@@@@1@24@@oe@2-2-2013
20518007@unknown@formal@none@1@S@For employee and employer alike, the worry is widespread.@@@@1@9@@oe@2-2-2013
20518008@unknown@formal@none@1@S@Surveys repeatedly show that small-business owners rank the availability and rising cost of health insurance as one of their biggest concerns.@@@@1@21@@oe@2-2-2013
20518009@unknown@formal@none@1@S@The House Energy and Commerce Committee's health subcommittee, headed by Democratic Rep. Henry Waxman of California, is looking into complaints that small businesses not only can't keep reasonably priced employee-health insurance if claims are filed, but often can't get coverage at all if a worker is termed medically uninsurable.@@@@1@49@@oe@2-2-2013
20518010@unknown@formal@none@1@S@"I have an old-fashioned name for people in that position: sick people who need health insurance," Rep. Waxman says. "@@@@1@20@@oe@2-2-2013
20518011@unknown@formal@none@1@S@What we're seeing now makes a mockery of the idea of insurance: collect premiums from the healthy, dump the sick and let them pay their own bills."@@@@1@27@@oe@2-2-2013
20518012@unknown@formal@none@1@S@Some lawmakers may seek legislation to limit overly restrictive insurance policies.@@@@1@11@@oe@2-2-2013
20518013@unknown@formal@none@1@S@The concern grows out of increased efforts by the insurers to woo the small-business market.@@@@1@15@@oe@2-2-2013
20518014@unknown@formal@none@1@S@As larger companies increasingly self-insure, or use reserves to pay their own workers' medical bills, the insurance industry has turned to the small-employer market that was once a backwater for them.@@@@1@31@@oe@2-2-2013
20518015@unknown@formal@none@1@S@"Insurance companies will offer a good rate if no one is sick, but it's a roll of the dice," says Rosemary Heinhold of the Small Business Service Bureau, a group representing 35,000 small businesses nationwide.@@@@1@35@@oe@2-2-2013
20518016@unknown@formal@none@1@S@"One case of cancer or a high-risk pregnancy with a sick infant, and rates go up 40% to 60%.@@@@1@19@@oe@2-2-2013
20518017@unknown@formal@none@1@S@Small-business people end up paying insurance premiums worth two to three times the cost of one illness."@@@@1@17@@oe@2-2-2013
20518018@unknown@formal@none@1@S@In addition, the group says some of its member companies have been denied insurance because individual workers had medical problems that ranged from a mild cardiac condition to psychological counseling after a divorce, hemorrhoids and overweight.@@@@1@36@@oe@2-2-2013
20518019@unknown@formal@none@1@S@The Health Insurance Association of America, an insurers' trade group, acknowledges that stiff competition among its members to insure businesses likely to be good risks during the first year of coverage has aggravated the problem in the small-business market.@@@@1@39@@oe@2-2-2013
20518020@unknown@formal@none@1@S@But it says that rapid rate increases are directly tied to the soaring cost of health care.@@@@1@17@@oe@2-2-2013
20518021@unknown@formal@none@1@S@Some business analysts blame the problem on tough competition in the insurance market.@@@@1@13@@oe@2-2-2013
20518022@unknown@formal@none@1@S@They say insurance companies use policies aimed at excluding bad risks because their competitors do.@@@@1@15@@oe@2-2-2013
20518023@unknown@formal@none@1@S@But the general practice makes it more difficult to combine small groups of people into larger groups, thus spreading the risk over a larger base of premiums.@@@@1@27@@oe@2-2-2013
20518024@unknown@formal@none@1@S@"I'm not accusing insurers of dereliction of duty," Robert Patricelli of the U.S. Chamber of Commerce told Mr. Waxman's panel.@@@@1@20@@oe@2-2-2013
20518025@unknown@formal@none@1@S@"You can't ask one carrier to underwrite on social grounds when that might destroy it in the marketplace."@@@@1@18@@oe@2-2-2013
20518026@unknown@formal@none@1@S@Rep. Waxman and Democratic Sen. Edward Kennedy of Massachusetts have proposed regulation to deal with the problem.@@@@1@17@@oe@2-2-2013
20518027@unknown@formal@none@1@S@The proposal is just part of legislation that would require businesses to provide health benefits, an idea that is strongly opposed by small business who say it would just compound the insurance-cost problems.@@@@1@33@@oe@2-2-2013
20518028@unknown@formal@none@1@S@But small-business lobbyists say they support the idea, included in the Kennedy-Waxman bill, of new laws or regulations requiring greater use of community rating, which pegs rates to the use of health care by a community or other large group, and is designed to prevent insurance companies from taking only low-risk small companies as clients.@@@@1@55@@oe@2-2-2013
20518029@unknown@formal@none@1@S@But first on the list of priorities, says the National Federation of Independent Business, is to prohibit state laws requiring the inclusion of specialty items, such as psychiatric care, in basic health plans.@@@@1@33@@oe@2-2-2013
20518030@unknown@formal@none@1@S@Such requirements, they argue, make it difficult to provide a basic, low-cost health-benefits package.@@@@1@14@@oe@2-2-2013
20518031@unknown@formal@none@1@S@"Before the state of Wisconsin mandated that mental-health care be covered, there were only 70 mental-health clinics in the state; now there are 400," says Carolyn Miller, an NFIB lobbyist.@@@@1@30@@oe@2-2-2013
20518032@unknown@formal@none@1@S@She contends that similar mandates have driven up insurance costs 20% in Maryland and 30% in California.@@@@1@17@@oe@2-2-2013
20518033@unknown@formal@none@1@S@The insurance-industry association also strongly disagrees with the proposed community rating, which "doesn't save one dollar," argues James Dorsch, HIAA's Washington counsel.@@@@1@22@@oe@2-2-2013
20518034@unknown@formal@none@1@S@"It just makes healthy businesses subsidize unhealthy ones and gives each employer less incentive to keep his workers healthy."@@@@1@19@@oe@2-2-2013
20518035@unknown@formal@none@1@S@Mr. Dorsch says the HIAA is working on a proposal to establish a privately funded reinsurance mechanism to help cover small groups that can't get insurance without excluding certain employees.@@@@1@30@@oe@2-2-2013
20518036@unknown@formal@none@1@S@The complexities of the insurance problem make the outcome difficult to predict.@@@@1@12@@oe@2-2-2013
20518037@unknown@formal@none@1@S@But to Ms. Allen, the employee whose back problem triggered a huge insurance-rate increase, the issue was simple.@@@@1@18@@oe@2-2-2013
20518038@unknown@formal@none@1@S@"What good is having health insurance," she asked, "when it's so expensive that it becomes impossible to keep after only one major claim?@@@@1@23@@oe@2-2-2013
20519001@unknown@formal@none@1@S@The Belgian consumer price index rose a provisional 0.1% in October from the previous month and was up 3.64% from October 1988, the Ministry of Economic Affairs said.@@@@1@28@@oe@2-2-2013
20519002@unknown@formal@none@1@S@The index, which uses a base of 1981 as 100, was calculated at 140.91 points in October, from 140.74 in September.@@@@1@21@@oe@2-2-2013
20519003@unknown@formal@none@1@S@Annual inflation rose to 3.64% in October from 3.55% in September.@@@@1@11@@oe@2-2-2013
20519004@unknown@formal@none@1@S@Belgium's inflation has been rising steadily for the past year, but the ministry said the latest rise is slower than gains in September and August.@@@@1@25@@oe@2-2-2013
20520001@unknown@formal@none@1@S@Nashua Corp., rumored a potential takeover target for six months, said that a Dutch company has sought U.S. approval to buy up to 25% of Nashua's shares.@@@@1@27@@oe@2-2-2013
20520002@unknown@formal@none@1@S@Nashua immediately responded by strengthening a poison-pill plan and saying it will buy back up to one million of its shares, or 10.4% of the 9.6 million outstanding.@@@@1@28@@oe@2-2-2013
20520003@unknown@formal@none@1@S@Nashua, whose major business is selling copiers, facsimile machines and related supplies, said Reiss & Co. B.V. of the Netherlands filed a request with the Federal Trade Commission under the Hart-Scott-Rodino Act for permission to buy more than $15 million of Nashua's stock but less than 25%.@@@@1@47@@oe@2-2-2013
20520004@unknown@formal@none@1@S@Previously, an affiliate of Unicorp Canada disclosed a stake of less than 5% in Nashua, according to Daniel M. Junius, Nashua's treasurer.@@@@1@22@@oe@2-2-2013
20520005@unknown@formal@none@1@S@Nashua's stock has fluctuated sharply on takeover speculation, rising to a high for the year of $42.875 a share in June from $29.75 in March.@@@@1@25@@oe@2-2-2013
20520006@unknown@formal@none@1@S@But the company has had weak results so far this year, with earnings declining 43% to $13.7 million, or $1.43 a share, on a 4% decline in revenue to $713.5 million through the first nine months of the year.@@@@1@39@@oe@2-2-2013
20520007@unknown@formal@none@1@S@Its stock has slumped recently, closing unchanged Friday at $29 a share in composite trading on the New York Stock Exchange; at that price, the company has a market value of about $278.4 million.@@@@1@34@@oe@2-2-2013
20520008@unknown@formal@none@1@S@Nashua announced the Reiss request after the market closed.@@@@1@9@@oe@2-2-2013
20520009@unknown@formal@none@1@S@Mr. Junius said Nashua's "intention is to remain an independent public company."@@@@1@12@@oe@2-2-2013
20520010@unknown@formal@none@1@S@The company said it amended its shareholder rights plan by reducing to 10% from 20% the level of ownership by an outsider that would trigger the issuance to other holders of rights to buy additional shares of Nashua common at half price.@@@@1@42@@oe@2-2-2013
20520011@unknown@formal@none@1@S@In addition, the company's board authorized the purchase of up to an additional one million shares.@@@@1@16@@oe@2-2-2013
20520012@unknown@formal@none@1@S@Under a program approved by the company in 1987 that didn't specify a share amount, Nashua had purchased 481,000 shares through Sept. 29.@@@@1@23@@oe@2-2-2013
20520013@unknown@formal@none@1@S@Alex Henderson, an analyst at Prudential-Bache Securities, said that while Nashua's performance this year has been "atrocious," the company nonetheless is attractive as a "classic breakup candidate because there's no similarity between its {four} businesses."@@@@1@35@@oe@2-2-2013
20520014@unknown@formal@none@1@S@He estimated the breakup value at $55 a share.@@@@1@9@@oe@2-2-2013
20520015@unknown@formal@none@1@S@In addition to selling Japanese-made photocopiers and facsimile machines in Europe and copier supplies in the U.S., Nashua has three other major businesses: labels and tapes, data storage disks for computers and mail-order photofinishing.@@@@1@34@@oe@2-2-2013
20521001@unknown@formal@none@1@S@The closely held supermarket chain named Frank Nicastro vice president and treasurer.@@@@1@12@@oe@2-2-2013
20521002@unknown@formal@none@1@S@The 47-year-old Mr. Nicastro joins Grand Union from Singer Co., where he was treasurer.@@@@1@14@@oe@2-2-2013
20522001@unknown@formal@none@1@S@The current account deficit on France's balance of payments narrowed to 1.48 billion French francs ($236.8 million) in August from a revised 2.1 billion francs in July, the Finance Ministry said.@@@@1@31@@oe@2-2-2013
20522002@unknown@formal@none@1@S@Previously, the July figure was estimated at a deficit of 613 million francs.@@@@1@13@@oe@2-2-2013
20522003@unknown@formal@none@1@S@Seasonally adjusted figures for August weren't available because of a recent strike that has disrupted the ministry's data collection.@@@@1@19@@oe@2-2-2013
20523001@unknown@formal@none@1@S@Weisfield's Inc. said it is in preliminary discussions regarding the possible sale of the company.@@@@1@15@@oe@2-2-2013
20523002@unknown@formal@none@1@S@A spokesman for the retail jeweler said the company would provide more details today and that it expects to reach a definitive agreement by the end of the week.@@@@1@29@@oe@2-2-2013
20523003@unknown@formal@none@1@S@In over-the-counter trading Friday, Weisfield's gained $9.50 to $39.@@@@1@9@@oe@2-2-2013
20523004@unknown@formal@none@1@S@At that price, the company has an indicated value of $42.9 million.@@@@1@12@@oe@2-2-2013
20523005@unknown@formal@none@1@S@Weisfield's had about 1.1 million shares outstanding as of July 31.@@@@1@11@@oe@2-2-2013
20523006@unknown@formal@none@1@S@The stock gained $2.75 Thursday to close at a then-52 week high.@@@@1@12@@oe@2-2-2013
20524001@unknown@formal@none@1@S@In the aftermath of the Beijing massacre on June 4, economists advanced wildly divergent views on how Hong Kong would be affected.@@@@1@22@@oe@2-2-2013
20524002@unknown@formal@none@1@S@Among the most upbeat was BT Brokerage (Asia) Ltd.@@@@1@9@@oe@2-2-2013
20524003@unknown@formal@none@1@S@In a June 5 reaction, the Bankers Trust Co. unit proclaimed the economy "shockproof."@@@@1@14@@oe@2-2-2013
20524004@unknown@formal@none@1@S@Others were more cautious.@@@@1@4@@oe@2-2-2013
20524005@unknown@formal@none@1@S@In a July analysis titled "From Euphoria to Despair," W.I. Carr (Far East) Ltd., another securities firm, said that eroding confidence might undermine future economic development.@@@@1@26@@oe@2-2-2013
20524006@unknown@formal@none@1@S@Today, with business activity in Hong Kong staggering along at an uneven pace, the economy itself seems locked in a struggle between hope and fear.@@@@1@25@@oe@2-2-2013
20524007@unknown@formal@none@1@S@Manufacturers have survived the turmoil in China largely unscathed.@@@@1@9@@oe@2-2-2013
20524008@unknown@formal@none@1@S@Signs of revival seem evident in Hong Kong's hard-hit hotel sector.@@@@1@11@@oe@2-2-2013
20524009@unknown@formal@none@1@S@But in the stock and real-estate markets, activity remains spotty even though prices have regained much of their lost ground.@@@@1@20@@oe@2-2-2013
20524010@unknown@formal@none@1@S@Waning demand reported by importers, retailers and even fancy restaurants all reinforce a profile of a community that is sharply tightening its belt.@@@@1@23@@oe@2-2-2013
20524011@unknown@formal@none@1@S@As many economists and businessmen see it, those incongruities underscore a paradox that seems likely to bedevil the economy throughout the 1990s.@@@@1@22@@oe@2-2-2013
20524012@unknown@formal@none@1@S@That paradox is Hong Kong's economically rewarding yet politically perilous relationship with China.@@@@1@13@@oe@2-2-2013
20524013@unknown@formal@none@1@S@As a model of capitalist efficiency on southern China's doorstep, Hong Kong's prospects look good.@@@@1@15@@oe@2-2-2013
20524014@unknown@formal@none@1@S@China's land and labor offer inexpensive alternatives to local industry.@@@@1@10@@oe@2-2-2013
20524015@unknown@formal@none@1@S@China-bound freight streams through the territory's port.@@@@1@7@@oe@2-2-2013
20524016@unknown@formal@none@1@S@In the decade since the communist nation emerged from isolation, its burgeoning trade with the West has lifted Hong Kong's status as a regional business center.@@@@1@26@@oe@2-2-2013
20524017@unknown@formal@none@1@S@These benefits seem secure despite China's current economic and political troubles.@@@@1@11@@oe@2-2-2013
20524018@unknown@formal@none@1@S@But to Hong Kong, China isn't purely business.@@@@1@8@@oe@2-2-2013
20524019@unknown@formal@none@1@S@It is also the sovereign power that, come 1997, will take over this British colony.@@@@1@15@@oe@2-2-2013
20524020@unknown@formal@none@1@S@China's leaders have promised generous liberties for post-1997 Hong Kong.@@@@1@10@@oe@2-2-2013
20524021@unknown@formal@none@1@S@That promise sounds shaky now that those same leaders have fallen back on Marxist dogma and brute force to crush their nation's democracy movement.@@@@1@24@@oe@2-2-2013
20524022@unknown@formal@none@1@S@Outflows of people and capital from Hong Kong have been growing since the sovereignty issue first arose in the early 1980s.@@@@1@21@@oe@2-2-2013
20524023@unknown@formal@none@1@S@A widely held assumption all along has been that, given its robust economy, Hong Kong will be able to attract sufficient foreign money and talent to comfortably offset the outflows.@@@@1@30@@oe@2-2-2013
20524024@unknown@formal@none@1@S@With interest in emigration and investment abroad soaring since June 4, that assumption no longer seems so safe.@@@@1@18@@oe@2-2-2013
20524025@unknown@formal@none@1@S@Investment and emigration plans take time to come to fruition.@@@@1@10@@oe@2-2-2013
20524026@unknown@formal@none@1@S@Only four months have passed since the Beijing massacre, and few are prepared to predict its ultimate impact.@@@@1@18@@oe@2-2-2013
20524027@unknown@formal@none@1@S@The only consensus is that more money and people may leave Hong Kong than had been thought likely.@@@@1@18@@oe@2-2-2013
20524028@unknown@formal@none@1@S@This expected blow has cast a pall over the economy's prospects.@@@@1@11@@oe@2-2-2013
20524029@unknown@formal@none@1@S@The question, as many people see it, is how long such uncertainty will last.@@@@1@14@@oe@2-2-2013
20524030@unknown@formal@none@1@S@Maureen Fraser, an economist with W.I. Carr, a subsidiary of France's Banque Indosuez, believes that the territory may not be able to regain its momentum until some time after 1997.@@@@1@30@@oe@2-2-2013
20524031@unknown@formal@none@1@S@It may experience an upswing or two in between.@@@@1@9@@oe@2-2-2013
20524032@unknown@formal@none@1@S@But with local investors shaken by China's political and economic turmoil, she says, a genuine recovery may not arrive until Hong Kong can prove itself secure under Chinese sovereignty.@@@@1@29@@oe@2-2-2013
20524033@unknown@formal@none@1@S@"Investors have to accept the possibility of a significant slowdown in economic activity in the runup to 1997," she says.@@@@1@20@@oe@2-2-2013
20524034@unknown@formal@none@1@S@"Over the next few years, I would advise caution."@@@@1@9@@oe@2-2-2013
20524035@unknown@formal@none@1@S@In a soon-to-be published book on the territory, a political economist, Miron Mushkat, has derived three future scenarios from interviews with 41 Hong Kong government officials and businessmen.@@@@1@28@@oe@2-2-2013
20524036@unknown@formal@none@1@S@Nearly half of them argue that Hong Kong's uneasy relationship with China will constrain -- though not inhibit -- long-term economic growth.@@@@1@22@@oe@2-2-2013
20524037@unknown@formal@none@1@S@The rest are split roughly between optimists who expect Hong Kong to hum along as before and pessimists who foresee irreparable chaos.@@@@1@22@@oe@2-2-2013
20524038@unknown@formal@none@1@S@The interviews took place two years ago.@@@@1@7@@oe@2-2-2013
20524039@unknown@formal@none@1@S@Since the China crisis erupted, Mr. Mushkat says, the scenario as depicted by the middle-of-the-road group bears a remarkable resemblance to the difficulties Hong Kong currently faces.@@@@1@27@@oe@2-2-2013
20524040@unknown@formal@none@1@S@The consensus of this group, which he dubs "realists," is that the local economy will grow through the 1990s at annual rates averaging between 3% and 5%.@@@@1@27@@oe@2-2-2013
20524041@unknown@formal@none@1@S@Such a pace of growth, though respectable for mature industrialized economies, would be unusually slow for Hong Kong.@@@@1@18@@oe@2-2-2013
20524042@unknown@formal@none@1@S@Only twice since the 1960s has annual gross domestic product growth here fallen below 5% for two or more consecutive years.@@@@1@21@@oe@2-2-2013
20524043@unknown@formal@none@1@S@The first instance occurred in 1967-68, when China's Cultural Revolution triggered bloody street rioting in the colony.@@@@1@17@@oe@2-2-2013
20524044@unknown@formal@none@1@S@The other came in 1974-75 from the combined shock of world recession and a severe local stock market crash.@@@@1@19@@oe@2-2-2013
20524045@unknown@formal@none@1@S@During the past 10 years, Hong Kong's economic growth has averaged 8.3% annually.@@@@1@13@@oe@2-2-2013
20524046@unknown@formal@none@1@S@Given Hong Kong's record, Mr. Mushkat's "realists" might have sounded unduly conservative when the interviews took place two years ago.@@@@1@20@@oe@2-2-2013
20524047@unknown@formal@none@1@S@Under the current circumstances, he says, their scenario no longer seems unrealistic.@@@@1@12@@oe@2-2-2013
20524048@unknown@formal@none@1@S@"The city could lose some of its entrepreneurial flavor.@@@@1@9@@oe@2-2-2013
20524049@unknown@formal@none@1@S@It could lose some of its dynamism," says Mr. Mushkat, a director of Baring Securities (Hong Kong) Ltd., a unit of Britain's Barings PLC. "@@@@1@25@@oe@2-2-2013
20524050@unknown@formal@none@1@S@It doesn't have to be a disaster.@@@@1@7@@oe@2-2-2013
20524051@unknown@formal@none@1@S@It just means that Hong Kong would become a less exciting place."@@@@1@12@@oe@2-2-2013
20524052@unknown@formal@none@1@S@Going by official forecasts of GDP, which measures the colony's output of goods and services, minus foreign income, Mr. Mushkat's "realists" seem relatively close to the mark.@@@@1@27@@oe@2-2-2013
20524053@unknown@formal@none@1@S@After taking into account the fallout from the China crisis, the government has projected 1989 GDP growth of 5%.@@@@1@19@@oe@2-2-2013
20524054@unknown@formal@none@1@S@The updated forecast, published Aug. 25, compares with an earlier forecast of 6% published March 1 and a 7.4% rate achieved in@@@@1@22@@oe@2-2-2013
20524055@unknown@formal@none@1@S@Sir Piers Jacobs, Hong Kong's financial secretary, says a further downward revision may be justified unless the economy stages a more convincing rally.@@@@1@23@@oe@2-2-2013
20524056@unknown@formal@none@1@S@"We aren't looking at anything like a doomsday scenario," he says.@@@@1@11@@oe@2-2-2013
20524057@unknown@formal@none@1@S@"But clearly we're entering a difficult period."@@@@1@7@@oe@2-2-2013
20524058@unknown@formal@none@1@S@Many factors besides a dread of 1997 will have a bearing on Hong Kong's economy.@@@@1@15@@oe@2-2-2013
20524059@unknown@formal@none@1@S@One concerns Japanese investors.@@@@1@4@@oe@2-2-2013
20524060@unknown@formal@none@1@S@Barely visible on Hong Kong's property scene in 1985, by last year Japan had become the top foreign investor, spending $602 million.@@@@1@22@@oe@2-2-2013
20524061@unknown@formal@none@1@S@The market has grown relatively quiet since the China crisis.@@@@1@10@@oe@2-2-2013
20524062@unknown@formal@none@1@S@But if the Japanese return in force, their financial might could compensate to some extent for local investors' waning commitment.@@@@1@20@@oe@2-2-2013
20524063@unknown@formal@none@1@S@Another -- and critical -- factor is the U.S., Hong Kong's biggest export market.@@@@1@14@@oe@2-2-2013
20524064@unknown@formal@none@1@S@Even before the China crisis, weak U.S. demand was slowing local economic growth.@@@@1@13@@oe@2-2-2013
20524065@unknown@formal@none@1@S@Conversely, strong consumer spending in the U.S. two years ago helped propel the local economy at more than twice its current rate.@@@@1@22@@oe@2-2-2013
20524066@unknown@formal@none@1@S@Indeed, a few economists maintain that global forces will continue to govern Hong Kong's economic rhythm.@@@@1@16@@oe@2-2-2013
20524067@unknown@formal@none@1@S@Once external conditions, such as U.S. demand, swing in the territory's favor, they argue, local businessmen will probably overcome their 1997 worries and continue doing business as usual.@@@@1@28@@oe@2-2-2013
20524068@unknown@formal@none@1@S@But economic arguments, however solid, won't necessarily impress Hong Kong's 5.7 million people.@@@@1@13@@oe@2-2-2013
20524069@unknown@formal@none@1@S@Many are refugees, having fled China's unending cycles of political repression and poverty since the Communist Party took power in 1949.@@@@1@21@@oe@2-2-2013
20524070@unknown@formal@none@1@S@As a result, many of those now planning to leave Hong Kong can't easily be swayed by momentary improvements in the colony's political and economic climate.@@@@1@26@@oe@2-2-2013
20524071@unknown@formal@none@1@S@Emigration applications soared in 1985, when Britain and China ratified their accord on Hong Kong's future.@@@@1@16@@oe@2-2-2013
20524072@unknown@formal@none@1@S@In 1987, Hong Kong's most prosperous year for a decade, 30,000 left, up 58% from the previous year.@@@@1@18@@oe@2-2-2013
20524073@unknown@formal@none@1@S@Last year, 45,000 went.@@@@1@4@@oe@2-2-2013
20524074@unknown@formal@none@1@S@The government predicts that annual outflows will level off over the next few years at as much as 60,000 -- a projection that is widely regarded as unrealistically low.@@@@1@29@@oe@2-2-2013
20524075@unknown@formal@none@1@S@A large number of those leaving are managers and professionals.@@@@1@10@@oe@2-2-2013
20524076@unknown@formal@none@1@S@While no one professes to know the exact cost of such a "brain drain" to the economy, hardly anyone doubts that it poses a threat.@@@@1@25@@oe@2-2-2013
20524077@unknown@formal@none@1@S@"When the economy loses a big portion of its work force that also happens to include its most productive members, economic growth is bound to be affected," says Anthong Wong, an economist with Hang Seng Bank.@@@@1@36@@oe@2-2-2013
20525001@unknown@formal@none@1@S@While Wall Street is retreating from computer-driven program trading, big institutional investors are likely to continue these strategies at full blast, further roiling the stock market, trading executives say.@@@@1@29@@oe@2-2-2013
20525002@unknown@formal@none@1@S@Bowing to a mounting public outcry, three more major securities firms -- Bear, Stearns & Co. Inc., Morgan Stanley & Co. and Oppenheimer & Co. -- announced Friday they would suspend stock-index arbitrage trading for their own accounts.@@@@1@38@@oe@2-2-2013
20525003@unknown@formal@none@1@S@PaineWebber Group Inc. announced a pullback on Thursday from stock-index arbitrage, a controversial program-trading strategy blamed by many investors for encouraging big stock-market swings.@@@@1@24@@oe@2-2-2013
20525004@unknown@formal@none@1@S@Though the trading halts are offered as a sign of concern about recent stock market volatility, most Wall Street firms remain open to handle program trading for customers.@@@@1@28@@oe@2-2-2013
20525005@unknown@formal@none@1@S@Trading executives privately say that huge stock-index funds, which dwarf Wall Street firms in terms of the size of their program trades, will continue to launch big programs through the stock market.@@@@1@32@@oe@2-2-2013
20525006@unknown@formal@none@1@S@Wells Fargo Investment Advisers, Bankers Trust Co. and Mellon Capital Management are among the top stock-index arbitrage clients of Wall Street, trading executives say.@@@@1@24@@oe@2-2-2013
20525007@unknown@formal@none@1@S@These huge stock-index funds build portfolios that match the S&P 500 stock index or other stock indexes, and frequently swap between stocks and futures to capture profits.@@@@1@27@@oe@2-2-2013
20525008@unknown@formal@none@1@S@"They will do it every chance they get," said one program-trading executive.@@@@1@12@@oe@2-2-2013
20525009@unknown@formal@none@1@S@Consequently, abrupt swings in the stock market are not likely to disappear anytime soon, they say.@@@@1@16@@oe@2-2-2013
20525010@unknown@formal@none@1@S@In fact, without Wall Street firms trading for their own accounts, the stock-index arbitrage trading opportunities for the big funds may be all the more abundant.@@@@1@26@@oe@2-2-2013
20525011@unknown@formal@none@1@S@"More customers may come to us now," said James Cayne, president of Bear Stearns Cos.@@@@1@15@@oe@2-2-2013
20525012@unknown@formal@none@1@S@Executives who manage these funds see the current debate over program trading as a repeat of the concern expressed after the 1987 crash.@@@@1@23@@oe@2-2-2013
20525013@unknown@formal@none@1@S@They noted that studies completed after the 1987 crash exonerated program trading as a source of volatility.@@@@1@17@@oe@2-2-2013
20525014@unknown@formal@none@1@S@"The issues that are (now) being raised, in classic anti-intellectual fashion, fly in the face of a number of post-crash studies," said Fred Grauer, chairman of Wells Fargo Investment Advisers.@@@@1@30@@oe@2-2-2013
20525015@unknown@formal@none@1@S@A Bankers Trust spokesman said that the company's investment arm uses stock-index arbitrage to enhance investors' returns.@@@@1@17@@oe@2-2-2013
20525016@unknown@formal@none@1@S@Officials at Mellon Capital were unavailable for comment.@@@@1@8@@oe@2-2-2013
20525017@unknown@formal@none@1@S@Stock-index funds have grown in popularity over the past decade as pension funds and other institutional investors have sought a low-cost way to match the performance of the stock market as a whole.@@@@1@33@@oe@2-2-2013
20525018@unknown@formal@none@1@S@Many money managers who trade stock actively have trouble consistently matching the S&P-500's returns.@@@@1@14@@oe@2-2-2013
20525019@unknown@formal@none@1@S@Some stock-index funds are huge.@@@@1@5@@oe@2-2-2013
20525020@unknown@formal@none@1@S@Wells Fargo Investment Advisers, for example, managed $25 billion in stock investments tracking the S&P 500 at the end of June, according to Standard & Poor's Corp.@@@@1@27@@oe@2-2-2013
20525021@unknown@formal@none@1@S@Mr. Grauer said $2 billion of that is used in active index arbitrage.@@@@1@13@@oe@2-2-2013
20525022@unknown@formal@none@1@S@Stock-index funds frequently use the futures markets as a hedging tool, but that is a far less aggressive strategy than stock-index arbitrage, in which traders buy and sell big blocks of stocks with offsetting trades in stock-index futures to profit from price differences.@@@@1@43@@oe@2-2-2013
20525023@unknown@formal@none@1@S@The 190-point plunge in the stock market Oct. 13 has heightened concerns about volatility.@@@@1@14@@oe@2-2-2013
20525024@unknown@formal@none@1@S@And while signs of an economic slowdown, softer corporate earnings and troubles with takeover financing all have contributed to the stock market's recent weakness, many investors rushed to blame program trading for aggravating market swings.@@@@1@35@@oe@2-2-2013
20525025@unknown@formal@none@1@S@The Wall Street firms' pullback followed their recent blacklisting by several institutional investors.@@@@1@13@@oe@2-2-2013
20525026@unknown@formal@none@1@S@Last Tuesday, Kemper Corp.'s Kemper Financial Services Inc. unit said it would no longer trade with firms committed to stock-index arbitrage, including the three that later suspended stock-index arbitrage trading on Friday.@@@@1@32@@oe@2-2-2013
20525027@unknown@formal@none@1@S@Phoenix Mutual Life Insurance Co. and Founders Asset Management Inc. also cut off brokerage firms that engage in program trading.@@@@1@20@@oe@2-2-2013
20525028@unknown@formal@none@1@S@Though it is still doing stock-index arbitrage trades for customers, Morgan Stanley's trading halt for its own account is likely to shake up firms such as Kidder, Peabody & Co. that still do such trades for their own account.@@@@1@39@@oe@2-2-2013
20525029@unknown@formal@none@1@S@Morgan Stanley has consistently been one of the top stock-index arbitrage traders in recent months.@@@@1@15@@oe@2-2-2013
20525030@unknown@formal@none@1@S@Indeed, Morgan Stanley's president, Richard B. Fisher, said the firm is putting up money to form a group of regulators, investors and investment banks to find out if stock-index arbitrage artificially induces stock-market volatility.@@@@1@34@@oe@2-2-2013
20525031@unknown@formal@none@1@S@"We have to clear up these issues and find out what is present that is creating artificial volatility," Mr. Fisher said.@@@@1@21@@oe@2-2-2013
20525032@unknown@formal@none@1@S@"There is no question that investor confidence (in the stock market) is critical."@@@@1@13@@oe@2-2-2013
20525033@unknown@formal@none@1@S@Joining the call for some kind of study or regulatory action, Merrill Lynch & Co. recommended program-trading reforms late Friday, including higher margins on stock-index futures and greater regulatory coordination.@@@@1@30@@oe@2-2-2013
20525034@unknown@formal@none@1@S@Separately, Mr. Cayne of Bear Stearns said his firm is working with regulators to balance margin requirements to "enhance stabilization."@@@@1@20@@oe@2-2-2013
20525035@unknown@formal@none@1@S@Margin rules determine the minimum amount of cash an investor must put up when buying a security.@@@@1@17@@oe@2-2-2013
20525036@unknown@formal@none@1@S@Current rules permit investors to put up less cash for futures than for stocks.@@@@1@14@@oe@2-2-2013
20525037@unknown@formal@none@1@S@Some observers say that different rules governing stock and futures markets are partly responsible for volatility.@@@@1@16@@oe@2-2-2013
20525038@unknown@formal@none@1@S@These rules, they say, permit faster and cheaper trading in futures than in stocks, which frequently knocks the two markets out of line.@@@@1@23@@oe@2-2-2013
20525039@unknown@formal@none@1@S@Stock-index arbitrage, because it sells the more "expensive" market and buys the "cheaper" one, attempts to reestablish the link between the stock and futures markets, and the adjustments are often abrupt.@@@@1@31@@oe@2-2-2013
20525040@unknown@formal@none@1@S@But unequal trading rules allow the futures market to trade differently from stocks, which invites frequent bouts of stock-index arbitrage in the first place.@@@@1@24@@oe@2-2-2013
20525041@unknown@formal@none@1@S@"There has to be better coordination on a regulatory basis," said Christopher Pedersen, director of trading at Twenty-First Securities Corp.@@@@1@20@@oe@2-2-2013
20525042@unknown@formal@none@1@S@"One agency should have the authority over all equity products.@@@@1@10@@oe@2-2-2013
20526001@unknown@formal@none@1@S@Like so many trends in the entertainment industry, the current spate of rape dramas on television seems to represent a confluence of high-mindedness and self-interest.@@@@1@25@@oe@2-2-2013
20526002@unknown@formal@none@1@S@The former comes from the latest wave of political activism in Hollywood, especially around feminist issues such as abortion.@@@@1@19@@oe@2-2-2013
20526003@unknown@formal@none@1@S@The latter comes from the perception, on the part of many people in network TV, that their only hope of keeping viewers from defecting to cable is to fill the airwaves with an increasingly raw sensationalism.@@@@1@36@@oe@2-2-2013
20526004@unknown@formal@none@1@S@Put these together, and you get programs about rape.@@@@1@9@@oe@2-2-2013
20526005@unknown@formal@none@1@S@The best of the crop was last week's season premiere of "In the Heat of the Night," the NBC series based on a 1967 feature film about a black Philadelphia police detective in a small Southern town.@@@@1@37@@oe@2-2-2013
20526006@unknown@formal@none@1@S@In the series, Virgil Tibbs (Howard Rollins) and his wife, Althea (Anne-Marie Johnson) have settled in Sparta, Miss.@@@@1@18@@oe@2-2-2013
20526007@unknown@formal@none@1@S@Because the show has acquired a sense of place by being filmed on location in Georgia, this episode -- in which Althea gets raped by an arrogant white schoolteacher -- does a decent job of tracing the social repercussions of the crime.@@@@1@42@@oe@2-2-2013
20526008@unknown@formal@none@1@S@Obviously, it's harder to establish a sense of place in a one-shot TV movie.@@@@1@14@@oe@2-2-2013
20526009@unknown@formal@none@1@S@But tonight's offering, "Settle the Score" (9-11 p.m. EST, on NBC), doesn't even try.@@@@1@14@@oe@2-2-2013
20526010@unknown@formal@none@1@S@This tale of a Chicago policewoman returning home to find the man who raped her 20 years earlier is supposed to be set in the Ozarks.@@@@1@26@@oe@2-2-2013
20526011@unknown@formal@none@1@S@But it's more like an illustration of what Ben Stein describes in his study of social attitudes in the TV industry: "Fear of violence and animosity . . . because of race or religion, fear and lack of comprehension about the politics of small-town people . . . produce a powerful wave of dislike of small towns in the minds of TV writers and producers."@@@@1@65@@oe@2-2-2013
20526012@unknown@formal@none@1@S@The writer and executive producer of "Settle the Score," Steve Sohmer, is a graduate of Yale who participated in a PBS documentary, aired this summer, in which six members of the Yale class of 1963 ruminated about their lives since graduation.@@@@1@41@@oe@2-2-2013
20526013@unknown@formal@none@1@S@At one point in the documentary, Mr. Sohmer, who is Jewish, says he felt rejected by many of the Protestants and Southerners he met at Yale.@@@@1@26@@oe@2-2-2013
20526014@unknown@formal@none@1@S@He quotes one student saying, "You're just the kind of Jewboy we Southerners can't stand.@@@@1@15@@oe@2-2-2013
20526015@unknown@formal@none@1@S@" Mr. Sohmer confesses that it was partly in response to such attitudes that he is now "a dweller on one of the two islands off the coast of America."@@@@1@30@@oe@2-2-2013
20526016@unknown@formal@none@1@S@But is exile in Hollywood enough?@@@@1@6@@oe@2-2-2013
20526017@unknown@formal@none@1@S@Not to judge by "Settle the Score," in which Mr. Sohmer seems to be settling a score of his own.@@@@1@20@@oe@2-2-2013
20526018@unknown@formal@none@1@S@Of all the unflattering portraits of small-town America I've seen on TV, this film is the most gratuitously nasty.@@@@1@19@@oe@2-2-2013
20526019@unknown@formal@none@1@S@The sole sympathetic character is the prodigal daughter Kate (Jaclyn Smith), and she is tolerable only by virtue of having nothing in common with her kinfolk, a truly benighted pack of Southern Protestants whose grim existence consists mostly of growing peaches and repressing sex.@@@@1@44@@oe@2-2-2013
20526020@unknown@formal@none@1@S@I mean, these folks are so uptight that they blame pretty Kate for the fact that when she was a teen-ager, someone tied her hands behind her back, thrust her head into a gunny sack, brutally raped and beat her, and then left her to die in a cold-storage room.@@@@1@50@@oe@2-2-2013
20526021@unknown@formal@none@1@S@Her Pa (Howard Duff) is the kind of guy who, while saying grace at the supper table, pauses at the word "sin" and glares at the daughter he hasn't seen for two decades, because he knows in his heart that she enjoyed what happened in the cold-storage room, and has been indulging the same taste ever since in the fleshpots of Chicago.@@@@1@62@@oe@2-2-2013
20526022@unknown@formal@none@1@S@People like Pa do exist, of course.@@@@1@7@@oe@2-2-2013
20526023@unknown@formal@none@1@S@But in Mr. Sohmer's Ozarks, he is but the tip of the patriarchal iceberg.@@@@1@14@@oe@2-2-2013
20526024@unknown@formal@none@1@S@Every man Kate encounters is either sniggeringly puritanical, viciously patronizing, revoltingly lecherous, or all three.@@@@1@15@@oe@2-2-2013
20526025@unknown@formal@none@1@S@Add the fact that any one of them, including Pa, could be her attacker, and you have a setting that doesn't resemble small-town America, or even Hollywood's nightmare of small-town America, so much as a paranoid feminist dystopia like Margaret Atwood's "The Handmaid's Tale," itself soon to be (you guessed it) a Hollywood movie.@@@@1@54@@oe@2-2-2013
20526026@unknown@formal@none@1@S@There are two exceptions: Josh (Jeffrey DeMunn), the local doctor who has always loved Kate; and Lincoln (Richard Masur), Kate's simple-minded but affectionate brother.@@@@1@24@@oe@2-2-2013
20526027@unknown@formal@none@1@S@Josh makes clumsy passes at Kate when she's seething with anger and fear, but we know from the outset that he's not a member of the evil patriarchy.@@@@1@28@@oe@2-2-2013
20526028@unknown@formal@none@1@S@How could he be?@@@@1@4@@oe@2-2-2013
20526029@unknown@formal@none@1@S@He's the director of the local Planned Parenthood chapter.@@@@1@9@@oe@2-2-2013
20526030@unknown@formal@none@1@S@As for Lincoln, if you can't guess why he's so sweet to his sister when everybody else hates her, then I'm not going to tell you.@@@@1@26@@oe@2-2-2013
20526031@unknown@formal@none@1@S@As for the women, they're pathetic.@@@@1@6@@oe@2-2-2013
20526032@unknown@formal@none@1@S@Kate's Ma (Louise Latham) is a moral coward.@@@@1@8@@oe@2-2-2013
20526033@unknown@formal@none@1@S@Her sister-in-law (Amy Wright) is a sniveling prude afraid that Kate will seduce all the married men in town, including a particularly loathsome fellow named Tucker, whose idea of fun is to leave his wife at home tending to her bruises and cigarette burns, while he bullies Kate into a dance that consists of drooling on her while trying to break her ribs.@@@@1@63@@oe@2-2-2013
20526034@unknown@formal@none@1@S@At the very least, it would appear that Sis is a poor judge of masculine charm.@@@@1@16@@oe@2-2-2013
20526035@unknown@formal@none@1@S@Yet even these insulting caricatures are not as bad as the moral hypocrisy at the heart of "Settle the Score."@@@@1@20@@oe@2-2-2013
20526036@unknown@formal@none@1@S@In the aforementioned episode of "In the Heat of the Night," we saw Althea being attacked, but we weren't invited to enjoy the spectacle.@@@@1@24@@oe@2-2-2013
20526037@unknown@formal@none@1@S@In Mr. Sohmer's film, by contrast, we are urged to share the perverse excitement of the rapist creeping up on his victim, as the camera ogles Kate in various stages of undress and lingers on the sight of her trussed-up body during frequent flashbacks to the rape.@@@@1@47@@oe@2-2-2013
20526038@unknown@formal@none@1@S@At this point, the truce between feminism and sensationalism gets mighty uneasy.@@@@1@12@@oe@2-2-2013
20526039@unknown@formal@none@1@S@Take the scene in which Kate stands naked by a lighted window, whispering to her hidden assailant, "Look all you want.@@@@1@21@@oe@2-2-2013
20526040@unknown@formal@none@1@S@Starting tomorrow, I'm stalking you.@@@@1@5@@oe@2-2-2013
20526041@unknown@formal@none@1@S@" Or the one in which she and Josh are stranded in the city, and, after insisting on separate motel rooms, she knocks on his door to pour out her feelings about the rape -- wearing nothing but a mini-slip and a push-up bra.@@@@1@44@@oe@2-2-2013
20526042@unknown@formal@none@1@S@Surely the question is obvious.@@@@1@5@@oe@2-2-2013
20526043@unknown@formal@none@1@S@With friends like Mr. Sohmer, do the feminists of Hollywood need enemies?@@@@1@12@@oe@2-2-2013
20527001@unknown@formal@none@1@S@Crossland Savings Bank's stock plummeted after management recommended a suspension of dividend payments on both its common and preferred stock because Crossland may not meet the new government capital criteria effective Dec. 7.@@@@1@33@@oe@2-2-2013
20527002@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange Friday, Crossland closed at $5.25, down $1.875, a 26% decline.@@@@1@19@@oe@2-2-2013
20527003@unknown@formal@none@1@S@A spokesman said the savings bank may not qualify for the capital requirements because, under the proposed guidelines, its $380 million of preferred stock doesn't meet the "core capital" criteria outlined under the new Financial Institutions Reform, Recovery and Enforcement Act of 1989.@@@@1@43@@oe@2-2-2013
20527004@unknown@formal@none@1@S@He added that final guidelines to be published in early November will determine whether the bank is in compliance.@@@@1@19@@oe@2-2-2013
20527005@unknown@formal@none@1@S@Crossland said it retained three investment bankers to assist it in developing and implementing a financial restructuring plan.@@@@1@18@@oe@2-2-2013
20527006@unknown@formal@none@1@S@It wouldn't identify the bankers.@@@@1@5@@oe@2-2-2013
20527007@unknown@formal@none@1@S@Additionally, Crossland reported a third-quarter loss of $175.5 million, or $13.44 a share, compared with net income of $27.1 million, or $1.16 a share, a year ago.@@@@1@27@@oe@2-2-2013
20527008@unknown@formal@none@1@S@A major factor in the third-quarter loss was the write-down of $143.6 million of goodwill.@@@@1@15@@oe@2-2-2013
20527009@unknown@formal@none@1@S@The spokesman said that the proposed guidelines caused Crossland to revise its business objectives and, consequently, to write down the asset value of some previous acquisitions.@@@@1@26@@oe@2-2-2013
20527010@unknown@formal@none@1@S@Crossland recorded an additional $20 million in loan loss reserves in the third quarter.@@@@1@14@@oe@2-2-2013
20527011@unknown@formal@none@1@S@Net interest income for the third quarter declined to $35.6 million from $70.1 million a year ago.@@@@1@17@@oe@2-2-2013
20527012@unknown@formal@none@1@S@However, non-interest income rose to $23.5 million from $22 million.@@@@1@10@@oe@2-2-2013
20527013@unknown@formal@none@1@S@Third-quarter loan originations dropped sharply to $663 million from $1 billion a year ago.@@@@1@14@@oe@2-2-2013
20527014@unknown@formal@none@1@S@Standard & Poor's Corp. lowered the rating on Crossland's preferred stock to double-C from single-B-minus and placed it on CreditWatch for possible further downgrade.@@@@1@24@@oe@2-2-2013
20527015@unknown@formal@none@1@S@It also placed on CreditWatch for possible downgrade other securities, including the double-B-minus/B rating of Crossland's certificates of deposit and the single-B rating of its senior subordinated capital notes.@@@@1@29@@oe@2-2-2013
20527016@unknown@formal@none@1@S@About $518 million of debt is affected.@@@@1@7@@oe@2-2-2013
20528001@unknown@formal@none@1@S@The envelope arrives in the mail.@@@@1@6@@oe@2-2-2013
20528002@unknown@formal@none@1@S@Open it and two soulful eyes on a boy's brown face peer out from the page, pleadingly.@@@@1@17@@oe@2-2-2013
20528003@unknown@formal@none@1@S@Does the tyke have a good mind about to be wasted?@@@@1@11@@oe@2-2-2013
20528004@unknown@formal@none@1@S@Is he a victim of Gramm-Rudman cuts?@@@@1@7@@oe@2-2-2013
20528005@unknown@formal@none@1@S@No, but he's endangered all the same: His new sitcom on ABC needs a following to stay on the air.@@@@1@20@@oe@2-2-2013
20528006@unknown@formal@none@1@S@ABC hasn't had much luck with shows featuring blacks in recent years, and the producers of one new arrival are a bit desperate.@@@@1@23@@oe@2-2-2013
20528007@unknown@formal@none@1@S@"Homeroom," a show about a black ad executive who gives up the boardroom for a fourth-grade classroom, is flunking the ratings test.@@@@1@22@@oe@2-2-2013
20528008@unknown@formal@none@1@S@So producers Alyce and Topper Carew spun their Rolodexes and gathered names of black opinion makers to mount a direct-mail campaign.@@@@1@21@@oe@2-2-2013
20528009@unknown@formal@none@1@S@By wooing a core black audience they figure they might keep the show alive at least until the spring semester.@@@@1@20@@oe@2-2-2013
20528010@unknown@formal@none@1@S@Using direct mail for a TV show is like fishing for whale with a breaded hook.@@@@1@16@@oe@2-2-2013
20528011@unknown@formal@none@1@S@It just isn't done.@@@@1@4@@oe@2-2-2013
20528012@unknown@formal@none@1@S@But employing this kind of gut-wrenching plea to black consciousness makes it even more unusual.@@@@1@15@@oe@2-2-2013
20528013@unknown@formal@none@1@S@Still, Mr. Carew thinks he can reach a good chunk of the three million-plus black homes he needs by mailing to the almost 10,000 blacks who form what he calls "the grapevine."@@@@1@32@@oe@2-2-2013
20528014@unknown@formal@none@1@S@"The grapevine isn't organized, but you and I know it exists," says Mr. Carew, referring to the often uncannily small world of black professionals and community leaders.@@@@1@27@@oe@2-2-2013
20528015@unknown@formal@none@1@S@"This is a very personal, ethnic style," Mr. Carew says. "@@@@1@11@@oe@2-2-2013
20528016@unknown@formal@none@1@S@I want people in the barber shops and the beauty shops and standing in line at the rib joints to be talking about the show.@@@@1@25@@oe@2-2-2013
20528017@unknown@formal@none@1@S@I want white America to talk about it, too, but I'm convinced that the grapevine is what's happening."@@@@1@18@@oe@2-2-2013
20528018@unknown@formal@none@1@S@ABC says it is aware of the producers' action, but the mailing was sent without the network's blessing.@@@@1@18@@oe@2-2-2013
20528019@unknown@formal@none@1@S@The letter, in fact, takes a jab at ABC for being a laggard in black programming.@@@@1@16@@oe@2-2-2013
20528020@unknown@formal@none@1@S@Meanwhile, as the Sunday evening show struggles to stay afloat against the tough competition of "Murder, She Wrote," the grapevine idea is threatening to turn into a weed: The tactic apparently has inspired sample viewings, but accolades are slow in coming.@@@@1@41@@oe@2-2-2013
20528021@unknown@formal@none@1@S@Doug Alligood, a black advertising executive who tracks black viewing patterns, gives the Carews an "A" for marketing moxie, but isn't alone in his lukewarm reaction.@@@@1@26@@oe@2-2-2013
20528022@unknown@formal@none@1@S@Some shows just don't impress, he says, and this is one of them.@@@@1@13@@oe@2-2-2013
20529001@unknown@formal@none@1@S@TransCanada PipeLines Ltd. said it plans to shift its headquarters to Calgary, Alberta, from Toronto next year to cut costs and be closer to the upstream natural-gas industry.@@@@1@28@@oe@2-2-2013
20529002@unknown@formal@none@1@S@Gerald Maier, president and chief executive officer of the natural-gas pipeline and marketing concern, said the company's future growth is "increasingly linked" to decisions made by Calgary-based gas producers.@@@@1@29@@oe@2-2-2013
20529003@unknown@formal@none@1@S@"Since deregulation of the market in 1985, producers have become much more intensely involved in both transportation and marketing," Mr. Maier said. "@@@@1@23@@oe@2-2-2013
20529004@unknown@formal@none@1@S@It's a matter of being close to those suppliers; many of those companies don't know us as well as they should."@@@@1@21@@oe@2-2-2013
20529005@unknown@formal@none@1@S@TransCanada transports all gas that moves eastward from Alberta.@@@@1@9@@oe@2-2-2013
20529006@unknown@formal@none@1@S@That includes all the gas consumed in Ontario and Quebec, along with the bulk of Canadian gas exports to the@@@@1@20@@oe@2-2-2013
20529007@unknown@formal@none@1@S@Walter Litvinchuk, vice president of Pan-Alberta Gas Ltd., a Calgary-based gas marketing concern, said the industry will welcome the move.@@@@1@20@@oe@2-2-2013
20529008@unknown@formal@none@1@S@"Having more than a token presence here should enhance communications and business relationships," Mr. Litvinchuk said. "@@@@1@17@@oe@2-2-2013
20529009@unknown@formal@none@1@S@Since the cost of transporting gas is so important to producers' ability to sell it, it helps to have input and access to transportation companies."@@@@1@25@@oe@2-2-2013
20529010@unknown@formal@none@1@S@The move, which could cost TransCanada as much as 50 million Canadian dollars (US$42.5 million) in relocation and severance payments, should be complete by next summer, Mr. Maier said.@@@@1@29@@oe@2-2-2013
20529011@unknown@formal@none@1@S@All 700 Toronto-based employees will be offered positions in Calgary, the company said.@@@@1@13@@oe@2-2-2013
20529012@unknown@formal@none@1@S@The company will save between C$4 million and C$6 million annually in office expenses and other administrative costs by moving to Calgary, Mr. Maier added.@@@@1@25@@oe@2-2-2013
20529013@unknown@formal@none@1@S@Part of both the costs and the savings could be passed on to shippers on the TransCanada pipeline through tolls, which are based on the value of the pipeline system and the cost of operating it.@@@@1@36@@oe@2-2-2013
20529014@unknown@formal@none@1@S@TransCanada is 49.1% owned by Montreal-based holding company BCE Inc.@@@@1@10@@oe@2-2-2013
20530001@unknown@formal@none@1@S@Since its founding in 1818, Brooks Brothers, the standard-bearer of the Ivy League look, has eschewed flashy sales promotions and fashion trends -- the rules that most retailers live by.@@@@1@30@@oe@2-2-2013
20530002@unknown@formal@none@1@S@But with sales growth sluggish and other men's stores putting on the heat, the venerable retailer can no longer afford such a smug attitude.@@@@1@24@@oe@2-2-2013
20530003@unknown@formal@none@1@S@So two weeks ago, thousands of Brooks Brothers charge customers -- customers conditioned to wait for twice-yearly clearance sales -- got a surprise: an invitation to come in and buy any one item for 25% off.@@@@1@36@@oe@2-2-2013
20530004@unknown@formal@none@1@S@During the four-day promotion, shoppers at the Short Hills, N.J., store lined up to pay for big-ticket items like coats and suits.@@@@1@22@@oe@2-2-2013
20530005@unknown@formal@none@1@S@That's not all.@@@@1@3@@oe@2-2-2013
20530006@unknown@formal@none@1@S@Departing from its newspaper ads featuring prim sketches of a suit or a coat, Brooks Brothers is marketing an updated image in a new campaign that carries the slogan, "The Surprise of Brooks Brothers."@@@@1@34@@oe@2-2-2013
20530007@unknown@formal@none@1@S@One color photo displays a rainbow of dress shirts tied in a knot; another picture shows neckties with bold designs.@@@@1@20@@oe@2-2-2013
20530008@unknown@formal@none@1@S@The message is loud and clear: This is not your father's Brooks Brothers.@@@@1@13@@oe@2-2-2013
20530009@unknown@formal@none@1@S@As part of its national ad pitch, Brooks Brothers will show less preppy women's clothes, moving away from its floppy-tie business stereotype.@@@@1@22@@oe@2-2-2013
20530010@unknown@formal@none@1@S@One ad shows a bright red jacket paired with a black leather skirt.@@@@1@13@@oe@2-2-2013
20530011@unknown@formal@none@1@S@And the ad copy is cheeky: "How can you be a Wall Street hot shot without at least one Brooks Brothers suit in your portfolio?"@@@@1@25@@oe@2-2-2013
20530012@unknown@formal@none@1@S@Brooks Brothers hopes that shaking its time-honored traditions will attract more young men and more women and change consumer perceptions about its range of merchandise.@@@@1@25@@oe@2-2-2013
20530013@unknown@formal@none@1@S@"We have men who only buy their shirts and underwear here or younger customers who only buy their {job} interview suit here," says William Roberti, chairman and chief executive officer of Brooks Brothers. "@@@@1@34@@oe@2-2-2013
20530014@unknown@formal@none@1@S@We want them to buy more of their wardrobe here."@@@@1@10@@oe@2-2-2013
20530015@unknown@formal@none@1@S@Industry watchers agree that Brooks Brothers is long overdue in updating its buttoned-down image, which has stunted its growth.@@@@1@19@@oe@2-2-2013
20530016@unknown@formal@none@1@S@When acquired in May 1988 by British retailer Marks & Spencer PLC, Brooks Brothers' annual operating profit was about $41.8 million on sales of $290.1 million.@@@@1@26@@oe@2-2-2013
20530017@unknown@formal@none@1@S@Mr. Roberti concedes that since the $750 million takeover, "sales growth hasn't been dramatic."@@@@1@14@@oe@2-2-2013
20530018@unknown@formal@none@1@S@For the 11 months ended March 31, operating profit at the 52-store chain totaled $40.5 million on sales of $286.8 million.@@@@1@21@@oe@2-2-2013
20530019@unknown@formal@none@1@S@As Brooks Brothers jumps into the fashion fray, it will be playing catch up.@@@@1@14@@oe@2-2-2013
20530020@unknown@formal@none@1@S@Many clothiers, especially Ralph Lauren, have cashed in on the recent popularity of updated Ivy League and English styles.@@@@1@19@@oe@2-2-2013
20530021@unknown@formal@none@1@S@In keeping with men's broader fashion scope today, businessmen are dabbling in English and Italian suits that are conservative but not stodgy.@@@@1@22@@oe@2-2-2013
20530022@unknown@formal@none@1@S@The rigid Ivy League customer, Brooks Brothers' bread and butter, meanwhile is becoming extinct.@@@@1@14@@oe@2-2-2013
20530023@unknown@formal@none@1@S@Thus, Brooks Brothers has lost customers to stores that offer more variety such as Paul Stuart, Barneys New York and Louis, Boston.@@@@1@22@@oe@2-2-2013
20530024@unknown@formal@none@1@S@"Brooks Brothers no longer has a lock on the {Ivy League} customer who is status-conscious about his clothes," says Charlie Davidson, president of the Andover Shop, a traditional men's store in Cambridge, Mass.@@@@1@33@@oe@2-2-2013
20530025@unknown@formal@none@1@S@By making a break from tradition, Brooks Brothers is seeking a delicate balance.@@@@1@13@@oe@2-2-2013
20530026@unknown@formal@none@1@S@If it promotes fashion too much, the shop risks alienating its old-line customers; by emphasizing "value," it risks watering down its high-minded mystique.@@@@1@23@@oe@2-2-2013
20530027@unknown@formal@none@1@S@Fashion industry consultants also question whether the company can make significant strides in its women's business, given that its customer base is less established and that conservative business dress for women is on the decline.@@@@1@35@@oe@2-2-2013
20530028@unknown@formal@none@1@S@Brooks Brothers' aim is for 20% of total sales to come from the women's department, up from the current 12%.@@@@1@20@@oe@2-2-2013
20530029@unknown@formal@none@1@S@"Everybody forgets that there are fashion cycles in classic merchandise," observes Carol Farmer, a retail consultant.@@@@1@16@@oe@2-2-2013
20530030@unknown@formal@none@1@S@"For women, dressing for success in a real structured way is over."@@@@1@12@@oe@2-2-2013
20530031@unknown@formal@none@1@S@Despite these challenges, Marks & Spencer sees big potential in Brooks Brothers, noting the widely recognized name and global presence.@@@@1@20@@oe@2-2-2013
20530032@unknown@formal@none@1@S@Marks & Spencer plans to open roughly 18 more U.S. stores in the next five years.@@@@1@16@@oe@2-2-2013
20530033@unknown@formal@none@1@S@Brooks Brothers says business is robust at its 30 outlets in Japan and two shops in Hong Kong.@@@@1@18@@oe@2-2-2013
20530034@unknown@formal@none@1@S@Marks & Spencer is also considering opening stores across Europe sometime in the future.@@@@1@14@@oe@2-2-2013
20530035@unknown@formal@none@1@S@Alan Smith, president of Marks & Spencer North America and Far East, says that Brooks Brothers' focus is to boost sales by broadening its merchandise assortment while keeping its "traditional emphasis."@@@@1@31@@oe@2-2-2013
20530036@unknown@formal@none@1@S@The British parent is also streamlining: Brooks Brothers, which continues to make almost all of its merchandise, recently shut one of its two shirt plants in Paterson, N.J., and has closed boys' departments in all but 20 stores.@@@@1@38@@oe@2-2-2013
20530037@unknown@formal@none@1@S@Brooks Brothers is also remodeling its stores.@@@@1@7@@oe@2-2-2013
20530038@unknown@formal@none@1@S@Wednesday, it will unveil a $7 million refurbishing at its flagship store on Madison Avenue.@@@@1@15@@oe@2-2-2013
20530039@unknown@formal@none@1@S@With newly installed escalators, the store retains its signature wood-and-brass look but is less intimidating.@@@@1@15@@oe@2-2-2013
20530040@unknown@formal@none@1@S@More shirts and sweaters will be laid out on tables, instead of sitting behind glass cases, so that customers can "walk up and touch them," Mr. Roberti says.@@@@1@28@@oe@2-2-2013
20530041@unknown@formal@none@1@S@Because the biggest growth in menswear is in casual sportswear, Brooks Brothers is chasing more of that business.@@@@1@18@@oe@2-2-2013
20530042@unknown@formal@none@1@S@The entire second floor of its Madison Avenue store is now casual sportswear featuring items such as ski sweaters, leather backpacks and a $42 wool baseball hat with the store's crest.@@@@1@31@@oe@2-2-2013
20530043@unknown@formal@none@1@S@The centerpiece of the overhaul, according to Mr. Roberti, is the men's tailored clothing department, where Brooks Brothers has added new suit styles and fabrics.@@@@1@25@@oe@2-2-2013
20530044@unknown@formal@none@1@S@"The perception out there is that we are very conservative and we only sell one type of suit," Mr. Roberti says, referring to Brooks Brothers' signature three-button "sack suit," with a center-vented jacket and boxy fit.@@@@1@36@@oe@2-2-2013
20530045@unknown@formal@none@1@S@But it now offers more two-button versions and suits with a tapered fit.@@@@1@13@@oe@2-2-2013
20530046@unknown@formal@none@1@S@It also plans to add suits cut for athletic men with broader upper bodies.@@@@1@14@@oe@2-2-2013
20530047@unknown@formal@none@1@S@Next spring, nearly 30% of its suits will have pleated pants, compared with virtually none a couple of years ago.@@@@1@20@@oe@2-2-2013
20530048@unknown@formal@none@1@S@Says Mr. Roberti: "We want to turn the customer on.@@@@1@10@@oe@2-2-2013
20531001@unknown@formal@none@1@S@Ferro Corp. said it will buy back as many as one million common shares.@@@@1@14@@oe@2-2-2013
20531002@unknown@formal@none@1@S@The maker of chemical and industrial materials didn't say how much it would pay or when it would make the transactions.@@@@1@21@@oe@2-2-2013
20531003@unknown@formal@none@1@S@Ferro also said it would cancel the unused portion of a 1987 buy-back plan for administrative reasons.@@@@1@17@@oe@2-2-2013
20531004@unknown@formal@none@1@S@The plan calls for the company to buy back 2,250,000 shares, which reflects a 3-for-2 stock split this year.@@@@1@19@@oe@2-2-2013
20531005@unknown@formal@none@1@S@So far the company had bought back 1.6 million shares.@@@@1@10@@oe@2-2-2013
20531006@unknown@formal@none@1@S@In New York Stock Exchange composite trading Friday, Ferro closed at $25.25, down 50 cents.@@@@1@15@@oe@2-2-2013
20532001@unknown@formal@none@1@S@Arthur Price abruptly quit as president and chief executive officer of MTM Entertainment Inc., a Los Angeles production company that has fallen on hard times.@@@@1@25@@oe@2-2-2013
20532002@unknown@formal@none@1@S@Mr. Price, 61 years old, also stepped down from the board of TVS Entertainment PLC, the British TV company that last year bought MTM, producer of such TV programs as "Hill Street Blues" and "The Mary Tyler Moore Show."@@@@1@39@@oe@2-2-2013
20532003@unknown@formal@none@1@S@A TVS spokesman said he didn't know Mr. Price's plans.@@@@1@10@@oe@2-2-2013
20532004@unknown@formal@none@1@S@James Gatward, TVS's chief executive, said in a statement that he will "assume overall responsibility" for MTM's operations until a successor is named.@@@@1@23@@oe@2-2-2013
20532005@unknown@formal@none@1@S@Industry analysts speculated that Mr. Price's sudden departure may have stemmed from conflicts with Mr. Gatward.@@@@1@16@@oe@2-2-2013
20532006@unknown@formal@none@1@S@Mr. Price "wanted to run the MTM business" and may have regretted selling the company to TVS, suggested Charles Denton, managing director of Zenith Productions, a subsidiary of Carlton Communications PLC, London.@@@@1@32@@oe@2-2-2013
20532007@unknown@formal@none@1@S@Mr. Gatward declined to comment, and Mr. Price couldn't be reached on Friday.@@@@1@13@@oe@2-2-2013
20532008@unknown@formal@none@1@S@In the TVS statement, Mr. Price said "leaving MTM was a very difficult decision," but added that "it is now time for a change. . . ."@@@@1@27@@oe@2-2-2013
20532009@unknown@formal@none@1@S@The $320 million purchase of MTM represented an audacious international move for TVS, which then was about half the U.S. concern's size.@@@@1@22@@oe@2-2-2013
20532010@unknown@formal@none@1@S@At the time, Mr. Gatward said his friendship with Mr. Price had smoothed the way for its link with the small British company.@@@@1@23@@oe@2-2-2013
20532011@unknown@formal@none@1@S@But TVS stunned industry analysts last month by disclosing that it expected MTM to post an operating loss for this year.@@@@1@21@@oe@2-2-2013
20532012@unknown@formal@none@1@S@In that announcement, TVS also said it was trimming production finance and hiring a new U.S. sales manager.@@@@1@18@@oe@2-2-2013
20532013@unknown@formal@none@1@S@Mr. Gatward has spent a lot of time since late September at MTM's headquarters; he eliminated three departments and fired six executives, according to the TVS spokesman.@@@@1@27@@oe@2-2-2013
20532014@unknown@formal@none@1@S@Further staff cuts are likely, the spokesman indicated.@@@@1@8@@oe@2-2-2013
20532015@unknown@formal@none@1@S@"Obviously, we are looking at making economies across the board."@@@@1@10@@oe@2-2-2013
20532016@unknown@formal@none@1@S@TVS blames difficulties in peddling reruns of MTM shows to U.S. broadcasters for the problems at MTM.@@@@1@17@@oe@2-2-2013
20532017@unknown@formal@none@1@S@The market for reruns sold to local U.S. broadcasters has been weak for the past three or four seasons.@@@@1@19@@oe@2-2-2013
20532018@unknown@formal@none@1@S@Mr. Price co-founded MTM in 1969 with U.S. actress Mary Tyler Moore and Grant Tinker, her then-husband.@@@@1@17@@oe@2-2-2013
20532019@unknown@formal@none@1@S@Mr. Tinker later left to become chairman of National Broadcasting Co.@@@@1@11@@oe@2-2-2013
20532020@unknown@formal@none@1@S@The TVS spokesman said Mr. Price still holds about an 8% TVS stake, acquired as part of the MTM acquisition.@@@@1@20@@oe@2-2-2013
20532021@unknown@formal@none@1@S@In late trading on London's Stock Exchange Friday, TVS shares rose four pence to 195 pence a share.@@@@1@18@@oe@2-2-2013
20533001@unknown@formal@none@1@S@Two rival bidders for Connaught BioSciences extended their offers to acquire the Toronto-based vaccine manufacturer Friday.@@@@1@16@@oe@2-2-2013
20533002@unknown@formal@none@1@S@Institut Merieux S.A., which offered 942 million Canadian dollars (US$801.2 million), or C$37 a share for Connaught, said it would extend its bid, due to expire last Thursday, to Nov. 6.@@@@1@31@@oe@2-2-2013
20533003@unknown@formal@none@1@S@A C$30-a-share bid by Ciba-Geigy Ltd., a pharmaceutical company based in Basel, Switzerland, and California-based Chiron Corp., a bioresearch concern, was extended to Nov. 16.@@@@1@25@@oe@2-2-2013
20533004@unknown@formal@none@1@S@It had been due to expire Friday evening.@@@@1@8@@oe@2-2-2013
20533005@unknown@formal@none@1@S@Merieux previously said it would ensure its bid remained open pending a final decision by Canadian regulators on whether to approve the takeover.@@@@1@23@@oe@2-2-2013
20533006@unknown@formal@none@1@S@Merieux, a vaccine and bioresearch firm based in Lyon, France, is controlled 50.1% by state-owned Rhone Poulenc S.A.@@@@1@18@@oe@2-2-2013
20533007@unknown@formal@none@1@S@The Canadian government previously said Merieux's bid didn't offer enough "net benefit" to Canada to be approved, and gave Merieux an until mid-November to submit additional information.@@@@1@27@@oe@2-2-2013
20533008@unknown@formal@none@1@S@Merieux officials said last week that they are "highly confident" the offer will be approved once it submits details of its proposed investments to federal regulators.@@@@1@26@@oe@2-2-2013
20533009@unknown@formal@none@1@S@Both offers are conditional on regulatory approvals and enough shares being tendered to give the bidders a majority of Connaught's shares outstanding.@@@@1@22@@oe@2-2-2013
20533010@unknown@formal@none@1@S@Institut Merieux, which already holds a 12.5% stake in Connaught, said that at the close of business Thursday, 5,745,188 shares of Connaught and C$44.3 million face amount of debentures, convertible into 1,826,596 common shares, had been tendered to its offer.@@@@1@40@@oe@2-2-2013
20533011@unknown@formal@none@1@S@At the close of business Thursday, Ciba-Geigy and Chiron said 11,580 common shares had been tendered to their offer.@@@@1@19@@oe@2-2-2013
20533012@unknown@formal@none@1@S@At last report, Connaught had 21.8 million shares outstanding.@@@@1@9@@oe@2-2-2013
20533013@unknown@formal@none@1@S@Separately, the Ontario Supreme Court said it will postpone indefinitely a ruling on the lawsuit launched by the University of Toronto against Connaught in connection with the Merieux bid.@@@@1@29@@oe@2-2-2013
20533014@unknown@formal@none@1@S@In a statement prepared by lawyers for the university and Connaught, the parties said they agreed that as a result of reaching a C415 million research accord, "It is unnecessary that there be a judgment on the merits {of the case} at this time."@@@@1@44@@oe@2-2-2013
20533015@unknown@formal@none@1@S@Lawyers for the two sides weren't immediately available for comment.@@@@1@10@@oe@2-2-2013
20533016@unknown@formal@none@1@S@The university had sought an injunction blocking Connaught's board from recommending or supporting an offer for the company by Merieux.@@@@1@20@@oe@2-2-2013
20534001@unknown@formal@none@1@S@Conseco Inc. said it is calling for the redemption on Dec. 7 of all the 800,000 remaining shares outstanding of its $1.875 Series A convertible preferred stock at $26.805 a share.@@@@1@31@@oe@2-2-2013
20534002@unknown@formal@none@1@S@The insurance concern said all conversion rights on the stock will terminate on Nov. 30.@@@@1@15@@oe@2-2-2013
20534003@unknown@formal@none@1@S@Until then, Conseco said the stock remains convertible into common stock at the rate of 1.439 shares of common stock for each share of preferred stock, which is equivalent to a conversion price of $17.50 a common share.@@@@1@38@@oe@2-2-2013
20534004@unknown@formal@none@1@S@In New York Stock Exchange trading Friday, Conseco closed at $19.50, down 25 cents.@@@@1@14@@oe@2-2-2013
20535001@unknown@formal@none@1@S@Centerior Energy Corp. said the Ohio Water Development Authority approved terms for two series of tax-exempt bonds to finance a water-pollution control and solid-waste disposal facilities.@@@@1@26@@oe@2-2-2013
20535002@unknown@formal@none@1@S@The authority will issue a total of $446.5 million of pollution-control revenue bonds.@@@@1@13@@oe@2-2-2013
20535003@unknown@formal@none@1@S@Proceeds of the sale will go to Centerior's operating subsidiaries to finance the projects, located at a nuclear unit located near Cleveland.@@@@1@22@@oe@2-2-2013
20535004@unknown@formal@none@1@S@The bonds will be issued for a term of 34 years at an interest rate of 8%.@@@@1@17@@oe@2-2-2013
20535005@unknown@formal@none@1@S@Goldman, Sachs & Co. is the underwriter.@@@@1@7@@oe@2-2-2013
20536001@unknown@formal@none@1@S@General Motors Corp.'s GMC Truck division put a $750 cash incentive on its 1990 full-sized Jimmy and Suburban trucks.@@@@1@19@@oe@2-2-2013
20536002@unknown@formal@none@1@S@The program, which runs through Jan. 4, also offers low-rate financing in lieu of the cash rebate.@@@@1@17@@oe@2-2-2013
20537001@unknown@formal@none@1@S@After days of intense but fruitless negotiations, a federal judge last week threatened to convert William Herbert Hunt's Chapter 11 personal bankruptcy case into a Chapter 7 liquidation.@@@@1@28@@oe@2-2-2013
20537002@unknown@formal@none@1@S@Judge Harold C. Abramson raised the possibility after talks to end a feud between two major creditors failed and all three reorganization plans in the case ran into roadblocks.@@@@1@29@@oe@2-2-2013
20537003@unknown@formal@none@1@S@If the case is converted to Chapter 7, what remains of the oil tycoon's once-vast estate -- now believed to have a value of less than $125 million -- would be sold off quickly with most of the proceeds going to the Internal Revenue Service, whose claim for $300 million in back taxes has priority in the case.@@@@1@58@@oe@2-2-2013
20537004@unknown@formal@none@1@S@Hundreds of smaller creditors could get nothing, according to attorneys involved.@@@@1@11@@oe@2-2-2013
20537005@unknown@formal@none@1@S@While admitting such a move would be "devastating" to most creditors, Judge Abramson told a courtroom filled with nearly two dozen attorneys that he was concerned about the toll mounting legal bills will take on Mr. Hunt's shrinking estate and about the fact that, following voting by creditors, none of the reorganization plans appeared to be viable in their present form.@@@@1@61@@oe@2-2-2013
20537006@unknown@formal@none@1@S@"It would be a shame to have a Chapter 7 after all the progress in this case," said Judge Abramson.@@@@1@20@@oe@2-2-2013
20537007@unknown@formal@none@1@S@Under Chapter 11 of the Federal Bankruptcy Code, a company continues to operate under protection from creditors' lawsuits while it works out a plan to pay its debts.@@@@1@28@@oe@2-2-2013
20537008@unknown@formal@none@1@S@Under Chapter 7, the assets of a company are sold off to pay creditors.@@@@1@14@@oe@2-2-2013
20537009@unknown@formal@none@1@S@Despite his reluctance to take the latter step, the judge indicated he would move quickly after hearing testimony later this week in the bitter dispute between Manufacturers Hanover Trust Co. and Minpeco S.A., a minerals concern owned by the Peruvian governmemt.@@@@1@41@@oe@2-2-2013
20537010@unknown@formal@none@1@S@The Manufacturers Hanover Corp. unit, which is seeking repayment of a $36 million loan, has asked the court to give its claim priority over that of Minpeco, which won a $132 million judgment against Mr. Hunt, his brother Nelson Bunker Hunt and other defendants last year in a case stemming from their alleged attempts to corner the silver market in@@@@1@60@@oe@2-2-2013
20537011@unknown@formal@none@1@S@While claiming that penalties, legal fees and interest have driven the value of its claim to more than $250 million, Minpeco has agreed to settle for an allowed claim of as much as $65.7 million.@@@@1@35@@oe@2-2-2013
20537012@unknown@formal@none@1@S@But even that is disputed by Manufacturers Hanover which, in alliance with the IRS, contends that Minpeco has already collected more than its actual damages from other defendants in the silver-conspiracy case.@@@@1@32@@oe@2-2-2013
20537013@unknown@formal@none@1@S@Under prodding from Judge Abramson, a Minpeco executive flew in from Peru last week to talk directly with executives from Manufacturers Hanover on a settlement.@@@@1@25@@oe@2-2-2013
20537014@unknown@formal@none@1@S@Despite long private sessions in both New York and Dallas, the two sides ended the week "6,000 miles and many dollars apart," according to attorney Hugh Ray, who represents Manufacturers Hanover.@@@@1@31@@oe@2-2-2013
20537015@unknown@formal@none@1@S@Meanwhile, inside the courtroom, the judge said he would fine attorneys for the two creditors $50 every time they referred to each other with terms such as "liar" or "slime."@@@@1@30@@oe@2-2-2013
20537016@unknown@formal@none@1@S@All three major creditors -- the IRS, Minpeco and Manufacturers Hanover -- voted against and effectively doomed a reorganization plan proposed by Mr. Hunt.@@@@1@24@@oe@2-2-2013
20537017@unknown@formal@none@1@S@A reorganization plan proposed jointly by the IRS and Manufacturers Hanover was stalled by a negative vote from Minpeco.@@@@1@19@@oe@2-2-2013
20537018@unknown@formal@none@1@S@The mineral concern's own reorganization plan met a similar fate after opposition from the IRS and Manufacturers Hanover.@@@@1@18@@oe@2-2-2013
20537019@unknown@formal@none@1@S@Neither plan is dead, however, and the judge could force creditors to accept some version of them after ruling on the Minpeco-Manufacturers Hanover dispute.@@@@1@24@@oe@2-2-2013
20537020@unknown@formal@none@1@S@Meanwhile, settlement negotiations continue between Mr. Hunt and the IRS, which has already reached a tentative agreement with Nelson Bunker Hunt.@@@@1@21@@oe@2-2-2013
20537021@unknown@formal@none@1@S@The two sides have been far apart on how much Herbert Hunt will continue to owe the government after his assets are sold.@@@@1@23@@oe@2-2-2013
20538001@unknown@formal@none@1@S@Stuart E. Eizenstat, a partner in the Washington law firm of Powell, Goldstein, Frazer & Murphy, was named a director of this utility holding company, increasing board membership to 14.@@@@1@30@@oe@2-2-2013
20539001@unknown@formal@none@1@S@Pacific First Financial Corp. said it signed a non-binding letter of intent to acquire the construction lending unit of Old Stone Bank of California.@@@@1@24@@oe@2-2-2013
20539002@unknown@formal@none@1@S@Terms haven't been finalized, but the transaction is expected to close by year end, Pacific First said.@@@@1@17@@oe@2-2-2013
20539003@unknown@formal@none@1@S@Old Stone's construction lending portfolio includes about $250 million in real-estate loans outstanding.@@@@1@13@@oe@2-2-2013
20539004@unknown@formal@none@1@S@The unit has 30 employees in four California offices, the company said.@@@@1@12@@oe@2-2-2013
20539005@unknown@formal@none@1@S@Pacific First owns Pacific First Federal Savings Banks and other financial services firms.@@@@1@13@@oe@2-2-2013
20540001@unknown@formal@none@1@S@General Electric Co.'s rail-car leasing unit completed the $178.5 million purchase of similar businesses from Leucadia National Corp. and Brae Corp., 74%-owned by Leucadia, the sellers said.@@@@1@27@@oe@2-2-2013
20540002@unknown@formal@none@1@S@The buyer was GE Capital Railcar Services, Chicago, a major owner of railway equipment and part of the GE Capital operations.@@@@1@21@@oe@2-2-2013
20540003@unknown@formal@none@1@S@Leucadia, New York, estimated it had a pre-tax gain on the transaction of $57 million, including its part of Brae's gain.@@@@1@21@@oe@2-2-2013
20540004@unknown@formal@none@1@S@Because of tax-loss carry-forward, Leucadia said it expects to escape taxes on "a substantial portion of the gain."@@@@1@18@@oe@2-2-2013
20540005@unknown@formal@none@1@S@The estimated gain for Brae is $15 million, including a tax credit of $7 million, the sellers said.@@@@1@18@@oe@2-2-2013
20540006@unknown@formal@none@1@S@"The credit for income taxes is a result of having provided deferred income taxes applicable to the sold assets at the higher income tax rates in effect in prior years," the sellers said.@@@@1@33@@oe@2-2-2013
20541001@unknown@formal@none@1@S@Automatic Data Processing Inc. plans to redeem on Nov. 16 its $150 million of 6.5% convertible subordinated debentures due March 1, 2011.@@@@1@22@@oe@2-2-2013
20541002@unknown@formal@none@1@S@The computing-services concern will pay $1,059.04 for each $1,000 face amount of debt.@@@@1@13@@oe@2-2-2013
20541003@unknown@formal@none@1@S@The conversion price for the debentures is $41.725 a share.@@@@1@10@@oe@2-2-2013
20541004@unknown@formal@none@1@S@In New York Stock Exchange composite trading Friday, Automatic Data closed at $46.50 a share, down $2.25.@@@@1@17@@oe@2-2-2013
20541005@unknown@formal@none@1@S@If all the debt is converted to common, Automatic Data will issue about 3.6 million shares; last Monday, the company had nearly 73 million shares outstanding.@@@@1@26@@oe@2-2-2013
20541006@unknown@formal@none@1@S@Automatic Data is redeeming the bonds because the after-tax cost of the interest on the bonds is higher than the dividend yield on the common, a spokesman said.@@@@1@28@@oe@2-2-2013
20542001@unknown@formal@none@1@S@Dow Jones & Co. extended its tender offer of $18 a share, or about $576 million, for the 33% of Telerate Inc. that it doesn't already own until 5 p.m. EST, Nov. 6.@@@@1@33@@oe@2-2-2013
20542002@unknown@formal@none@1@S@The offer, which Telerate's two independent directors have rejected as inadequate, previously had been scheduled to expire at midnight Friday.@@@@1@20@@oe@2-2-2013
20542003@unknown@formal@none@1@S@Dow Jones said it extended the offer to allow shareholders time to review a supplement to the Dow Jones tender offer circular that it mailed last Friday.@@@@1@27@@oe@2-2-2013
20542004@unknown@formal@none@1@S@The supplement contains various information that has been filed with the Securities and Exchange Commission since Dow Jones launched the offer on Sept. 26, but it doesn't change the terms and conditions of the offer except to extend its expiration date.@@@@1@41@@oe@2-2-2013
20542005@unknown@formal@none@1@S@In Delaware Chancery Court litigation, Telerate has criticized Dow Jones for not disclosing that Telerate's management expects the company's revenue to increase by 20% annually, while Dow Jones based its projections of Telerate's performance on a 12% revenue growth forecast.@@@@1@40@@oe@2-2-2013
20542006@unknown@formal@none@1@S@In the tender offer supplement, Dow Jones discloses the different growth forecasts but says it views the 20% growth rate "as a hoped-for goal" of Telerate's management "and not as a realistic basis on which to project the company's likely future performance."@@@@1@42@@oe@2-2-2013
20542007@unknown@formal@none@1@S@Telerate shares fell 50 cents on Friday to close at $20 each in New York Stock Exchange composite trading.@@@@1@19@@oe@2-2-2013
20542008@unknown@formal@none@1@S@Dow Jones shares also fell 50 cents to close at $36.125 in Big Board composite trading.@@@@1@16@@oe@2-2-2013
20542009@unknown@formal@none@1@S@Dow Jones has said it believes the $18-a-share price is fair to Telerate's minority shareholders.@@@@1@15@@oe@2-2-2013
20542010@unknown@formal@none@1@S@Late last week, representatives of Dow Jones and Telerate began negotiations about the terms of the offer, but those talks didn't result in any changes in the offer.@@@@1@28@@oe@2-2-2013
20542011@unknown@formal@none@1@S@Telerate provides information about financial markets through an electronic network.@@@@1@10@@oe@2-2-2013
20542012@unknown@formal@none@1@S@Dow Jones, which owns 67% of Telerate, publishes The Wall Street Journal, Barron's magazine, community newspapers and operates financial news services and computer data bases.@@@@1@25@@oe@2-2-2013
20543001@unknown@formal@none@1@S@Chamberlain Manufacturing Corp. won a $25.8 million Army contract for 155mm artillery shell casings.@@@@1@14@@oe@2-2-2013
20543002@unknown@formal@none@1@S@Avondale Industries Inc. received a $13.5 million Navy contract for ship spare parts.@@@@1@13@@oe@2-2-2013
20544001@unknown@formal@none@1@S@Air & Water Technologies Corp. completed the acquisition of Falcon Associates Inc., a Bristol, Pa., asbestos-abatement concern, for $25 million of stock.@@@@1@22@@oe@2-2-2013
20544002@unknown@formal@none@1@S@Air & Water, which provides environmental services and systems, paid about 1.4 million of its shares for Falcon.@@@@1@18@@oe@2-2-2013
20544003@unknown@formal@none@1@S@In American Stock Exchange composite trading Friday, Air & Water closed unchanged at $17.50.@@@@1@14@@oe@2-2-2013
20544004@unknown@formal@none@1@S@At July 31, Air & Water had nearly 10 million shares outstanding.@@@@1@12@@oe@2-2-2013
20545001@unknown@formal@none@1@S@The Canadian pig herd totaled 10,674,500 at Oct. 1, down 3% from a year earlier, said Statistics Canada, a federal agency.@@@@1@21@@oe@2-2-2013
20545002@unknown@formal@none@1@S@Sows for breeding and bred gilts totaled 1,070,000, down 2% from a year ago.@@@@1@14@@oe@2-2-2013
20545003@unknown@formal@none@1@S@(Jacksonville, Fla.) -- Charles Bates, president, chief executive and chief operating officer will resign from these positions and the board effective Oct. 31.@@@@1@23@@oe@2-2-2013
20545004@unknown@formal@none@1@S@Norman J. Harrison, chairman, will succeed him as chief executive.@@@@1@10@@oe@2-2-2013
20545005@unknown@formal@none@1@S@Roger L. Sutton, executive vice president, was appointed as the new president and chief operating officer.@@@@1@16@@oe@2-2-2013
20545006@unknown@formal@none@1@S@Kerry P. Charlet will become executive vice president, and retain his positions as chief financial officer and treasurer.@@@@1@18@@oe@2-2-2013
20546001@unknown@formal@none@1@S@Upset over the use of what it says are its exclusive trademarks, Hells Angels Motorcycle Corp. is fighting back -- in court.@@@@1@22@@oe@2-2-2013
20546002@unknown@formal@none@1@S@Concord New Horizons Corp., creators of a 1988 movie called Nam Angels, used the gang's name and trademarks without authorization, the not-for-profit corporation says in a complaint filed in federal court.@@@@1@31@@oe@2-2-2013
20546003@unknown@formal@none@1@S@Nam Angels depicts a group of the cycle gang's members on a mercenary mission to Viet Nam during the war years.@@@@1@21@@oe@2-2-2013
20546004@unknown@formal@none@1@S@In addition to being broadcast on cable television, the movie also is being distributed on videocassettes, the suit alleges in seeking unspecified damages.@@@@1@23@@oe@2-2-2013
20546005@unknown@formal@none@1@S@Also named in the suit is Media Home Entertainment Inc. of Culver City, Calif., its parent, Heron Communications Inc., and Broadstar Television of Los Angeles, holders of the copyright on the movie.@@@@1@32@@oe@2-2-2013
20546006@unknown@formal@none@1@S@A Concord spokeswoman called the suit "unfounded" but declined to comment further.@@@@1@12@@oe@2-2-2013
20546007@unknown@formal@none@1@S@Besides being upset with the film's use of the Hells Angels name and logos, the Angels are angry with their depiction in the movie.@@@@1@24@@oe@2-2-2013
20546008@unknown@formal@none@1@S@"There is absolutely no way our board or membership would have approved the portrayal of the Hells Angels in this movie," said George Christie, president of the club's Ventura chapter.@@@@1@30@@oe@2-2-2013
20546009@unknown@formal@none@1@S@"Portrayal of our members as disloyal to each other is totally contrary to the most important values of our organization -- loyalty and trust."@@@@1@24@@oe@2-2-2013
20546010@unknown@formal@none@1@S@Nam Angels shows Angels fighting with each other and also depicts them as showing no remorse when a member is killed.@@@@1@21@@oe@2-2-2013
20546011@unknown@formal@none@1@S@Both of these actions aren't characteristic of real Hells Angels, Mr. Christie said.@@@@1@13@@oe@2-2-2013
20546012@unknown@formal@none@1@S@Hells Angels was formed in 1948 and incorporated in 1966.@@@@1@10@@oe@2-2-2013
20546013@unknown@formal@none@1@S@In addition to 26 chapters in the U.S., there are 40 chapters in foreign countries.@@@@1@15@@oe@2-2-2013
20547001@unknown@formal@none@1@S@Douglas H. Miller, self-employed in the oil and gas securities business, was named chairman of this oil and gas exploration company, filling a vacancy.@@@@1@24@@oe@2-2-2013
20547002@unknown@formal@none@1@S@Mr. Miller, who has been a Coda director, also was named chief executive officer, succeeding Ted Eubank, who remains president and chief operating officer.@@@@1@24@@oe@2-2-2013
20548001@unknown@formal@none@1@S@Lawrence M. Gressette Jr., president, was elected to the additional posts of chairman and chief executive officer of this utility holding company, effective Feb. 1, 1990.@@@@1@26@@oe@2-2-2013
20548002@unknown@formal@none@1@S@The 57-year-old Mr. Gressette, who was also elected chairman and chief executive of all Scana subsidiaries, succeeds John A. Warren.@@@@1@20@@oe@2-2-2013
20548003@unknown@formal@none@1@S@Mr. Warren will remain on the company's board.@@@@1@8@@oe@2-2-2013
20549001@unknown@formal@none@1@S@The American Stock Exchange said a seat was sold for $165,000, unchanged from the previous sale Oct. 13.@@@@1@18@@oe@2-2-2013
20549002@unknown@formal@none@1@S@Seats on the Amex currently are quoted at $151,000 bid and $200,000 asked.@@@@1@13@@oe@2-2-2013
20550001@unknown@formal@none@1@S@The world had a big yuk recently when the Soviets reported a rash of UFO landings, one of them bringing tall aliens who glowed in the dark to Voronezh.@@@@1@29@@oe@2-2-2013
20550002@unknown@formal@none@1@S@It is the opinion of Timothy Good, author of "Above Top Secret: The World UFO Cover-Up" (Quill/William Morrow, 592 pages, $12.95), that the world laughs too fast.@@@@1@27@@oe@2-2-2013
20550003@unknown@formal@none@1@S@Here is a bible for UFO watchers, complete with pictures of people who say they've had personal relationships with aliens.@@@@1@20@@oe@2-2-2013
20550004@unknown@formal@none@1@S@One photo shows a woman sporting a scar she says was made by a laser beam (a low-caliber weapon, from the looks of the wound).@@@@1@25@@oe@2-2-2013
20550005@unknown@formal@none@1@S@So far anyway, our alien visitors seem more intent on brightening our skies than pulverizing us.@@@@1@16@@oe@2-2-2013
20550006@unknown@formal@none@1@S@Mr. Good devotes much serious space to the events of Feb. 25, 1942, when American gunners spotted strange lights in the sky above Los Angeles.@@@@1@25@@oe@2-2-2013
20550007@unknown@formal@none@1@S@Air-raid sirens sounded the alarm at 2:25 a.m., summoning 12,000 air wardens to duty.@@@@1@14@@oe@2-2-2013
20550008@unknown@formal@none@1@S@Soon all hell broke loose.@@@@1@5@@oe@2-2-2013
20550009@unknown@formal@none@1@S@Ground batteries, targeting an odd assortment of aircraft traveling at highly unusual speeds, opened up a furious fusillade.@@@@1@18@@oe@2-2-2013
20550010@unknown@formal@none@1@S@The sky filled with 12.8-pound shells, several of which fell back to Earth, destroying homes and buildings.@@@@1@17@@oe@2-2-2013
20550011@unknown@formal@none@1@S@When the smoke cleared, six people were dead (three from heart attacks), and everyone wondered what in the world they were shooting at.@@@@1@23@@oe@2-2-2013
20550012@unknown@formal@none@1@S@Mr. Good, who documents these things as best he can, provides an official explanation in the form of a memorandum from Chief of Staff George C. Marshall to President Roosevelt: "1,430 pounds of ammunition," he wrote his commander in chief, were expended on "unidentified aircraft," flying at speeds as slow as 200 mph and elevations between 9,000 and 18,000 feet.@@@@1@60@@oe@2-2-2013
20550013@unknown@formal@none@1@S@Well, thousands of Californians on the scene insisted the ammo had been uselessly aimed at a large, hardy UFO, but you will just have to make your own decision about such sightings.@@@@1@32@@oe@2-2-2013
20550014@unknown@formal@none@1@S@One thing's for sure: There have been a ton of them, and greater beings than the editors of the National Enquirer have shown interest.@@@@1@24@@oe@2-2-2013
20550015@unknown@formal@none@1@S@Gerald Ford, a fairly down-to-earth fellow, once sent a letter to the chairman of the Armed Services Committee recommending that "there be a committee investigation of the UFO phenomenon.@@@@1@29@@oe@2-2-2013
20550016@unknown@formal@none@1@S@I think we owe it to the American people to establish credibility regarding UFOs and to produce the greatest possible enlightenment on the subject."@@@@1@24@@oe@2-2-2013
20550017@unknown@formal@none@1@S@Jimmy Carter went further in a 1976 campaign promise: "If I become president, I'll make every piece of information this country has about UFO sightings available to the public, and the scientists.@@@@1@32@@oe@2-2-2013
20550018@unknown@formal@none@1@S@I am convinced that UFOs exist because I have seen one. . . ."@@@@1@14@@oe@2-2-2013
20550019@unknown@formal@none@1@S@But you know about campaign promises.@@@@1@6@@oe@2-2-2013
20550020@unknown@formal@none@1@S@It still doesn't look like governments are coughing up everything they know.@@@@1@12@@oe@2-2-2013
20550021@unknown@formal@none@1@S@Still, despite their efforts to convince the world that we are indeed alone, the visitors do seem to keep coming and, like the recent sightings, there's often a detail or two that suggests they may actually be a little on the dumb side.@@@@1@43@@oe@2-2-2013
20550022@unknown@formal@none@1@S@For instance, witnesses in Voronezh say the pinheaded behemoths and their robot friend, after strolling around the city park, left behind some rocks.@@@@1@23@@oe@2-2-2013
20550023@unknown@formal@none@1@S@Now why, you have to ask yourself, would intelligent beings haul a bunch of rocks around the universe?@@@@1@18@@oe@2-2-2013
20550024@unknown@formal@none@1@S@Or land in Russia so often.@@@@1@6@@oe@2-2-2013
20550025@unknown@formal@none@1@S@In a 1961 incident, a Soviet mail plane disappeared off the radar screen just after radioing its position to ground control in Sverdlovsk.@@@@1@23@@oe@2-2-2013
20550026@unknown@formal@none@1@S@A search party soon found the unscathed aircraft in a forest clearing much too small to have allowed a conventional landing.@@@@1@21@@oe@2-2-2013
20550027@unknown@formal@none@1@S@What's more, the seven mail personnel aboard were missing.@@@@1@9@@oe@2-2-2013
20550028@unknown@formal@none@1@S@Again, you have to ask the obvious question: Why would intelligent beings kidnap seven Soviet mailmen?@@@@1@16@@oe@2-2-2013
20550029@unknown@formal@none@1@S@Speculation as to the nature of aliens will no doubt continue until we wake up one morning to find they've taken over "The Today Show," the way they overwhelm an entire town in Jack Finney's "Invasion of the Body Snatchers" (Fireside/Simon & Schuster, 216 pages, $8.95).@@@@1@46@@oe@2-2-2013
20550030@unknown@formal@none@1@S@Maybe some of our talk-show hosts and anchors have already been taken over?@@@@1@13@@oe@2-2-2013
20550031@unknown@formal@none@1@S@The point of this 1955 novel, which spawned two movies, is that the soulless pod people replicated by alien plants are virtually indistinguishable from human folks.@@@@1@26@@oe@2-2-2013
20550032@unknown@formal@none@1@S@Another guy who thinks they're out there and closing fast is Whitley Strieber, whose new novel, "Majestic" (Putnam, 317 pages, $18.95), takes a look at a reported 1947 UFO crash near the Roswell Army Air Field in a New Mexico desert.@@@@1@41@@oe@2-2-2013
20550033@unknown@formal@none@1@S@Mr. Strieber knows a lot about aliens.@@@@1@7@@oe@2-2-2013
20550034@unknown@formal@none@1@S@He even had sex with one -- sort of, and not intentionally -- as readers learned in his "Communion" (a book recently described in the New York Times as a "nonfiction best seller").@@@@1@33@@oe@2-2-2013
20550035@unknown@formal@none@1@S@The way Mr. Strieber tells it in his earnest prose, the intelligence officer who found the craft's strange debris was forced by the government to call the flower-inscribed scraps parts of a weather balloon.@@@@1@34@@oe@2-2-2013
20550036@unknown@formal@none@1@S@The apparent crash became top secret, and the alien creatures went away upset with the rude ways of human beings.@@@@1@20@@oe@2-2-2013
20550037@unknown@formal@none@1@S@We lost our chance to communicate with sweet-natured visitors "about four feet tall {who} looked as though they were made of puffed-up marshmallow."@@@@1@23@@oe@2-2-2013
20550038@unknown@formal@none@1@S@Mr. Shiflett is an editorial writer for the Rocky Mountain News.@@@@1@11@@oe@2-2-2013
20551001@unknown@formal@none@1@S@Trustcorp Inc. will become Society Bank & Trust when its merger is completed with Society Corp. of Cleveland, the bank said.@@@@1@21@@oe@2-2-2013
20551002@unknown@formal@none@1@S@Society Corp., which is also a bank, agreed in June to buy Trustcorp for 12.4 million shares of stock with a market value of about $450 million.@@@@1@27@@oe@2-2-2013
20551003@unknown@formal@none@1@S@The transaction is expected to close around year end.@@@@1@9@@oe@2-2-2013
20552001@unknown@formal@none@1@S@When the economy stumbled in the mid-1970s, Akzo NV fell out of bed.@@@@1@13@@oe@2-2-2013
20552002@unknown@formal@none@1@S@Towering overcapacity in the synthetic fiber business, which accounted for half of the Dutch chemical company's sales, led to huge losses and left Akzo's survival in doubt.@@@@1@27@@oe@2-2-2013
20552003@unknown@formal@none@1@S@It wasn't until the early 1980s that Akzo nursed itself back to health.@@@@1@13@@oe@2-2-2013
20552004@unknown@formal@none@1@S@Now, as a new downturn in the chemical industry looms, Akzo says it is in far better shape to cope.@@@@1@20@@oe@2-2-2013
20552005@unknown@formal@none@1@S@Investment analysts generally agree.@@@@1@4@@oe@2-2-2013
20552006@unknown@formal@none@1@S@Aside from slashing costs and investing heavily in its plants, Akzo has spent 3.9 billion guilders ($1.88 billion) on acquisitions since 1983 to give it better balance.@@@@1@27@@oe@2-2-2013
20552007@unknown@formal@none@1@S@During the same period, the company has sold about 1.6 billion guilders of assets.@@@@1@14@@oe@2-2-2013
20552008@unknown@formal@none@1@S@The fibers business, whose products go into textiles, carpeting and myriad industrial uses, now accounts for only 20% of Akzo's sales.@@@@1@21@@oe@2-2-2013
20552009@unknown@formal@none@1@S@"We have definitely become less cyclical," Syb Bergsma, executive vice president-finance, said in an interview.@@@@1@15@@oe@2-2-2013
20552010@unknown@formal@none@1@S@Still, Akzo hasn't yet found a way to achieve another goal: a large presence in the U.S. market for prescription drugs.@@@@1@21@@oe@2-2-2013
20552011@unknown@formal@none@1@S@Mr. Bergsma said prices for U.S. pharmaceutical companies remain too high, making it unlikely that Akzo will pursue any major acquisitions in that area.@@@@1@24@@oe@2-2-2013
20552012@unknown@formal@none@1@S@But he said Akzo is considering "alliances" with American drug companies, although he wouldn't elaborate.@@@@1@15@@oe@2-2-2013
20552013@unknown@formal@none@1@S@An indication of Akzo's success in reshaping itself will come Thursday when it reports third-quarter results.@@@@1@16@@oe@2-2-2013
20552014@unknown@formal@none@1@S@Analysts expect the company to show profit of about 225 million guilders, up 9% from 206.3 million guilders a year earlier.@@@@1@21@@oe@2-2-2013
20552015@unknown@formal@none@1@S@A bigger test will come next year if, as many analysts expect, bulk chemical prices slump in Europe.@@@@1@18@@oe@2-2-2013
20552016@unknown@formal@none@1@S@"Maybe Akzo can surprise the investment world a bit," said Jaap Visker, an analyst at Amsterdam-Rotterdam Bank NV.@@@@1@18@@oe@2-2-2013
20552017@unknown@formal@none@1@S@He figures Akzo is likely to be one of the few major chemical companies to show profit growth next year.@@@@1@20@@oe@2-2-2013
20552018@unknown@formal@none@1@S@The bank projects Akzo will show per-share earnings of 24 guilders in 1990, up from an estimated 22.5 guilders for this year and the 20.9 guilders reported for 1988.@@@@1@29@@oe@2-2-2013
20552019@unknown@formal@none@1@S@At James Capel & Co. in London, analyst Jackie Ashurst notes that Akzo is less exposed than many of its rivals to the most volatile chemical products.@@@@1@27@@oe@2-2-2013
20552020@unknown@formal@none@1@S@For example, Akzo has only minor petrochemical operations, is small in plastics and doesn't make fertilizers.@@@@1@16@@oe@2-2-2013
20552021@unknown@formal@none@1@S@Thus, while Akzo profited less than many rivals from the boom of recent years in petrochemicals and plastics, it has less to fear from the current slump.@@@@1@27@@oe@2-2-2013
20552022@unknown@formal@none@1@S@The company is exposed to bulk chemicals, however.@@@@1@8@@oe@2-2-2013
20552023@unknown@formal@none@1@S@Although bulk-chemical prices have begun falling in the U.S., they are generally stable in Europe, Mr. Bergsma said.@@@@1@18@@oe@2-2-2013
20552024@unknown@formal@none@1@S@A decline may come in the first half of 1990, he said, but the market doesn't appear on the verge of a severe downturn.@@@@1@24@@oe@2-2-2013
20552025@unknown@formal@none@1@S@To reduce the danger of such pricing cycles, Akzo has invested heavily in specialty chemicals, which have highly specific industrial uses and tend to produce much higher profit margins than do bulk chemicals.@@@@1@33@@oe@2-2-2013
20552026@unknown@formal@none@1@S@Akzo's biggest move in this area was the 1987 acquisition of Stauffer Chemical Co.'s specialty chemical business for $625 million.@@@@1@20@@oe@2-2-2013
20552027@unknown@formal@none@1@S@In a less glamorous field, Akzo is the world's biggest producer of industrial salt, used as a raw material for the chemical industry as well as for such tasks as melting ice.@@@@1@32@@oe@2-2-2013
20552028@unknown@formal@none@1@S@Akzo also makes products derived from salt, such as chlorine and caustic soda.@@@@1@13@@oe@2-2-2013
20552029@unknown@formal@none@1@S@In the fibers division, profit remains weak, largely because of persistent overcapacity.@@@@1@12@@oe@2-2-2013
20552030@unknown@formal@none@1@S@But Akzo is still slimming down: It recently announced plans to eliminate about 1,700 fiber-related jobs in the Netherlands and West Germany.@@@@1@22@@oe@2-2-2013
20552031@unknown@formal@none@1@S@Although the polyester and rayon markets remain mostly bleak, Akzo has high hopes for some emerging fiber businesses, such carbon fibers and aramid, extremely strong fibers used to reinforce tires and metals and to make such products as bullet-proof vests.@@@@1@40@@oe@2-2-2013
20552032@unknown@formal@none@1@S@Akzo's Twaron aramid fiber is a distant second to Du Pont Co.'s Kevlar, which dominates the market.@@@@1@17@@oe@2-2-2013
20552033@unknown@formal@none@1@S@Mr. Bergsma said world-wide industry sales of aramid fibers are expected to total about $500 million this year.@@@@1@18@@oe@2-2-2013
20552034@unknown@formal@none@1@S@Sales growth of 10% a year seems possible, he said, and Akzo expects its Twaron business to become profitable in 1990.@@@@1@21@@oe@2-2-2013
20552035@unknown@formal@none@1@S@Akzo also has spent heavily on acquisitions in paints, auto finishes and industrial coatings.@@@@1@14@@oe@2-2-2013
20552036@unknown@formal@none@1@S@In August, for example, it completed the $110 million acquisition of Reliance Universal Inc., a U.S. maker of industrial coatings for wood, metals and plastics, from Tyler Corp.@@@@1@28@@oe@2-2-2013
20552037@unknown@formal@none@1@S@Mr. Bergsma said Akzo is likely to see strong profit growth from coatings as it realizes cost savings and other benefits from its greater scale.@@@@1@25@@oe@2-2-2013
20552038@unknown@formal@none@1@S@For Akzo's drug business, where profits have shown litle change for the past five years, Mr. Bergsma predicted moderate profit growth.@@@@1@21@@oe@2-2-2013
20552039@unknown@formal@none@1@S@Akzo is the leading seller of birth-control pills in Europe but is still seeking regulatory approvals to enter that market in the U.S. and Japan.@@@@1@25@@oe@2-2-2013
20552040@unknown@formal@none@1@S@Mr. Bergsma said Akzo hopes to have approval to sell its Marvelon pill in the U.S. in 1992.@@@@1@18@@oe@2-2-2013
20552041@unknown@formal@none@1@S@Akzo also has small operations in diagnostic tests, generic drugs and veterinary products.@@@@1@13@@oe@2-2-2013
20552042@unknown@formal@none@1@S@Veterinary products are showing especially strong growth, Mr. Bergsma said.@@@@1@10@@oe@2-2-2013
20552043@unknown@formal@none@1@S@Among the leading products is a flu shot for horses.@@@@1@10@@oe@2-2-2013
20553001@unknown@formal@none@1@S@We're sorry to see Nigel Lawson's departure from the British government.@@@@1@11@@oe@2-2-2013
20553002@unknown@formal@none@1@S@He is a politician with the courage of true conviction, as in summarily sacking exchange controls and in particular slashing the top rate of income taxation to 40%.@@@@1@28@@oe@2-2-2013
20553003@unknown@formal@none@1@S@But in the end his resignation as Chancellor of the Exchequer may be a good thing, especially if it works as he no doubt intends -- by forcing Prime Minister Thatcher and her counterparts elsewhere to confront the genuine intellectual issues involved.@@@@1@42@@oe@2-2-2013
20553004@unknown@formal@none@1@S@The early omens, we admit, scarcely suggest so wholesome an outcome.@@@@1@11@@oe@2-2-2013
20553005@unknown@formal@none@1@S@The Fleet Street reaction was captured in the Guardian headline, "Departure Reveals Thatcher Poison."@@@@1@14@@oe@2-2-2013
20553006@unknown@formal@none@1@S@British politicians divide into two groups of chickens, those with their necks cut and those screaming the sky is falling.@@@@1@20@@oe@2-2-2013
20553007@unknown@formal@none@1@S@So far as we can see only two persons are behaving with a dignity recognizing the seriousness of the issues: Mr. Lawson and Sir Alan Walters, the counterpoint of the Chancellor's difficulties, who also resigned as personal adviser to Mrs. Thatcher.@@@@1@41@@oe@2-2-2013
20553008@unknown@formal@none@1@S@The problem is that on the vital issue of monetary policy and exchange rates, conservative, free-market economists divide into at least three incompatible camps.@@@@1@24@@oe@2-2-2013
20553009@unknown@formal@none@1@S@There are the strict monetarists, who believe that floating exchange rates free an economy to stabilize its price level by stabilizing the monetary aggregates.@@@@1@24@@oe@2-2-2013
20553010@unknown@formal@none@1@S@There are the supply-side globalists, who seek to spread the advantages of a common currency through fixed exchange rates.@@@@1@19@@oe@2-2-2013
20553011@unknown@formal@none@1@S@And there are the twin-deficit Keynesians, who predict/advocate devaluations to balance trade flows.@@@@1@13@@oe@2-2-2013
20553012@unknown@formal@none@1@S@This is a problem not only for Prime Minister Thatcher but for President Bush, as shown in the ongoing bickering over the dollar between the Federal Reserve and the Mulford Treasury.@@@@1@31@@oe@2-2-2013
20553013@unknown@formal@none@1@S@In the British case, Mr. Lawson is the closest thing in London to a supply-side globalist.@@@@1@16@@oe@2-2-2013
20553014@unknown@formal@none@1@S@He not only slashed marginal tax rates, initially sparking fresh growth in Britain, but he wanted to regulate monetary policy by targeting exchange rates, indeed joining the European Monetary System.@@@@1@30@@oe@2-2-2013
20553015@unknown@formal@none@1@S@While no doubt agreeing with Mr. Lawson on everything else, Sir Alan is a dyed-in-the-wool monetarist, inclined to defend floating rates to the death.@@@@1@24@@oe@2-2-2013
20553016@unknown@formal@none@1@S@To make matters even more confusing, the earlier U.S. experience made clear that Mr. Lawson's tax cuts would have profound effects on Britain's international accounts and the value of sterling.@@@@1@30@@oe@2-2-2013
20553017@unknown@formal@none@1@S@They increased the after-tax rate of return and made Britain a far more attractive place to invest, producing sudden capital inflows.@@@@1@21@@oe@2-2-2013
20553018@unknown@formal@none@1@S@By accounting definitions, this had to produce a sudden trade deficit.@@@@1@11@@oe@2-2-2013
20553019@unknown@formal@none@1@S@As in the U.S., it also produced a sudden burst in the demand for sterling, that is a surge in the sterling monetary aggregates, M-Whatever.@@@@1@25@@oe@2-2-2013
20553020@unknown@formal@none@1@S@At this point, the options were: Crunch money to stop the boost in the aggregates, as Sir Alan surely advised, and forget the soaring pound.@@@@1@25@@oe@2-2-2013
20553021@unknown@formal@none@1@S@To push the pound even lower trying to cure the trade deficit, a policy Britain has repeatedly proved disastrous.@@@@1@19@@oe@2-2-2013
20553022@unknown@formal@none@1@S@Or to supply enough money to meet the increased demand and stabilize the exchange rate, as the Chancellor argued, and ensure the permanence of this policy by joining the EMS.@@@@1@30@@oe@2-2-2013
20553023@unknown@formal@none@1@S@Faced with a similar situation, Paul Volcker let the dollar soar, (though monetary aggregates also grew so rapidly monetarists issued egg-on-the-face warnings of inflation).@@@@1@24@@oe@2-2-2013
20553024@unknown@formal@none@1@S@But this devastated the U.S. manufacturing sector, laying the seeds of protectionism.@@@@1@12@@oe@2-2-2013
20553025@unknown@formal@none@1@S@Mr. Lawson, though not allowed to join the EMS, chose to "shadow" the deutsche mark.@@@@1@15@@oe@2-2-2013
20553026@unknown@formal@none@1@S@He reaped inflation along with rapid growth, no doubt validating Sir Alan's predictions in the Prime Minister's mind.@@@@1@18@@oe@2-2-2013
20553027@unknown@formal@none@1@S@But more recently, the pound has been falling with high inflation, which has also seemed almost impervious to the high interest rates Mr. Lawson deployed to stop it.@@@@1@28@@oe@2-2-2013
20553028@unknown@formal@none@1@S@So the British experience presents a genuine puzzle that reaches far beyond the shores of Albion.@@@@1@16@@oe@2-2-2013
20553029@unknown@formal@none@1@S@We had been soliciting opinions on it long before Mr. Lawson's resignation, and offer some of the collection for the benefit of his successor and one-time deputy, John Major.@@@@1@29@@oe@2-2-2013
20553030@unknown@formal@none@1@S@To begin with, we should note that in contrast to the U.S. deficit, Britain has been running largish budget surpluses.@@@@1@20@@oe@2-2-2013
20553031@unknown@formal@none@1@S@In pursuit of this mystery, Keynesian adepts and twin-deficit mavens need not apply.@@@@1@13@@oe@2-2-2013
20553032@unknown@formal@none@1@S@We should also add Mr. Lawson's own explanation, as we understand it.@@@@1@12@@oe@2-2-2013
20553033@unknown@formal@none@1@S@Unlike the U.S., Britain never achieved even a momentary reduction in real wages.@@@@1@13@@oe@2-2-2013
20553034@unknown@formal@none@1@S@The wage stickiness, which OECD studies confirm is particularly high in Britain, gives its economy a structural bias toward inflation.@@@@1@20@@oe@2-2-2013
20553035@unknown@formal@none@1@S@Inflation is easier to spark and harder to control.@@@@1@9@@oe@2-2-2013
20553036@unknown@formal@none@1@S@We should also concede that in the British experience the monetarist cause regains some of the credibility it lost in the U.S. experience.@@@@1@23@@oe@2-2-2013
20553037@unknown@formal@none@1@S@Nearby Paul Craig Roberts, a distinguished supply-sider with monetarist sympathies, argues the case for Sir Alan.@@@@1@16@@oe@2-2-2013
20553038@unknown@formal@none@1@S@Perhaps the fiscal shock of tax cuts is after all best absorbed by floating rates, though of course in the event Mr. Lawson resigned over whether to support a weak pound, not restrain a strong one.@@@@1@36@@oe@2-2-2013
20553039@unknown@formal@none@1@S@We recall that Mr. Roberts not only chides the Chancellor for being too easy because of a desire to constrain sterling, but also led the chorus saying that Mr. Volcker was too tight when he let the dollar rise.@@@@1@39@@oe@2-2-2013
20553040@unknown@formal@none@1@S@Somewhere in between there must be a golden mean, perhaps measured by M-Whatever, but perhaps measured by purchasing power parity.@@@@1@20@@oe@2-2-2013
20553041@unknown@formal@none@1@S@The globalists tend to think Mr. Lawson ran onto technical reefs.@@@@1@11@@oe@2-2-2013
20553042@unknown@formal@none@1@S@In fixing rates the choice of initial parities is crucial, for example, and perhaps he picked the wrong pound-DM rate.@@@@1@20@@oe@2-2-2013
20553043@unknown@formal@none@1@S@For that matter, perhaps he fixed to the wrong currency.@@@@1@10@@oe@2-2-2013
20553044@unknown@formal@none@1@S@We sympathize with Mrs. Thatcher's reluctance to tie her currency to one governed by the domestic political imperatives of West Germany.@@@@1@21@@oe@2-2-2013
20553045@unknown@formal@none@1@S@Perhaps the shock would have been less if they'd fixed to another low-tax, deregulated, supply-side economy.@@@@1@16@@oe@2-2-2013
20553046@unknown@formal@none@1@S@Alan Reynolds of Polyconomics adds his suspicion that the unrecognized inflationary culprit is the budget surplus.@@@@1@16@@oe@2-2-2013
20553047@unknown@formal@none@1@S@Those who can shake Keynesian ghosts out of their heads might recognize that the retirement of gilts for cash is equivalent to an expansionary open-market operation, indeed, it is the definition of an open market operation to expand the money supply.@@@@1@41@@oe@2-2-2013
20553048@unknown@formal@none@1@S@Mr. Reynolds also notes that since British banks have no reserve requirements, high interest rates are less likely to curb inflation than to cause recession.@@@@1@25@@oe@2-2-2013
20553049@unknown@formal@none@1@S@We would add that in political terms, Mrs. Thatcher's problem was failing to decide between the Chancellor and her adviser.@@@@1@20@@oe@2-2-2013
20553050@unknown@formal@none@1@S@In the end, neither policy was followed, and instead of learning anything we are left with a mystery.@@@@1@18@@oe@2-2-2013
20553051@unknown@formal@none@1@S@In particular, "shadowing" a currency is anything but fixing; it is an open announcement that the exchange rate target has no credibility.@@@@1@22@@oe@2-2-2013
20553052@unknown@formal@none@1@S@All the more so when strong voices are heard opposing the policy.@@@@1@12@@oe@2-2-2013
20553053@unknown@formal@none@1@S@Better to have a true monetarist policy, just for the experience.@@@@1@11@@oe@2-2-2013
20553054@unknown@formal@none@1@S@So Mr. Lawson had to resign.@@@@1@6@@oe@2-2-2013
20553055@unknown@formal@none@1@S@In the end his move was sparked by remarks in excerpts from Sir Alan's autobiography in The American Economist, a 10,000-circulation academic journal.@@@@1@23@@oe@2-2-2013
20553056@unknown@formal@none@1@S@But it was the underlying situation that became intolerable.@@@@1@9@@oe@2-2-2013
20553057@unknown@formal@none@1@S@What Mr. Major and Mrs. Thatcher will do now remains to be seen.@@@@1@13@@oe@2-2-2013
20553058@unknown@formal@none@1@S@They confront stubborn inflation and a sagging economy, that is to say, stagflation.@@@@1@13@@oe@2-2-2013
20553059@unknown@formal@none@1@S@This cannot be solved by provoking a further downturn; reducing the supply of goods does not solve inflation.@@@@1@18@@oe@2-2-2013
20553060@unknown@formal@none@1@S@Our advice is this: Immediately return the government surpluses to the economy through incentive-maximizing tax cuts, and find some monetary policy target that balances both supply and demand for money (which neither aggregates nor interest rates can do).@@@@1@38@@oe@2-2-2013
20553061@unknown@formal@none@1@S@This was the version of supply-side economics that, in the late 1970s and early '80s, worked in America and world-wide to solve a far more serious stagflation than afflicts Britain today.@@@@1@31@@oe@2-2-2013
20554001@unknown@formal@none@1@S@Ogilvy & Mather, whose declining profitability prompted its takeover by WPP Group earlier this year, will see its profit margins bounce back to the "11.5% range" in 1990, said Graham Phillips, the agency's new chairman-elect.@@@@1@35@@oe@2-2-2013
20554002@unknown@formal@none@1@S@The ad agency's pretax profit margins were slightly under 10% at the time of the takeover, according to analysts; London-based WPP's goal is to increase margins to 12%.@@@@1@28@@oe@2-2-2013
20554003@unknown@formal@none@1@S@Mr. Phillips made his comments during an interview detailing his plans for the agency.@@@@1@14@@oe@2-2-2013
20554004@unknown@formal@none@1@S@British-born, the 24-year Ogilvy veteran was named last week to succeed Kenneth Roman, who is leaving by year's end to take a top post at American Express, an Ogilvy client.@@@@1@30@@oe@2-2-2013
20554005@unknown@formal@none@1@S@Surrounded by stacks of paper, two computers and photos of himself boating and flying, Mr. Phillips laid out several changes he hopes to make at the agency.@@@@1@27@@oe@2-2-2013
20554006@unknown@formal@none@1@S@First and foremost, Mr. Phillips said he hopes to improve client service.@@@@1@12@@oe@2-2-2013
20554007@unknown@formal@none@1@S@Ogilvy under the fastidious Mr. Roman gained a reputation as occasionally being high-handed in its treatment of clients, of preaching what strategy a client should -- indeed, must -- follow.@@@@1@30@@oe@2-2-2013
20554008@unknown@formal@none@1@S@And some of its top client-service executives, including Mr. Phillips, were promoted to the point they were saddled with administrative duties, with little time to see clients.@@@@1@27@@oe@2-2-2013
20554009@unknown@formal@none@1@S@But Mr. Phillips recently freed himself up to spend more time with clients by delegating much of his administrative work to a deputy.@@@@1@23@@oe@2-2-2013
20554010@unknown@formal@none@1@S@He also plans to get to know clients that Mr. Roman was closer to, such as Lever Brothers, American Express and Seagram.@@@@1@22@@oe@2-2-2013
20554011@unknown@formal@none@1@S@The two men are planning joint visits to a number of clients to attempt to smoothly hand over the reins.@@@@1@20@@oe@2-2-2013
20554012@unknown@formal@none@1@S@"Clients want to see more of our senior people involved in the business -- not once a month, but two or three times a week," he said.@@@@1@27@@oe@2-2-2013
20554013@unknown@formal@none@1@S@Mr. Phillips also hopes to finally implement a reorganization announced earlier this year but put on hold by the WPP takeover.@@@@1@21@@oe@2-2-2013
20554014@unknown@formal@none@1@S@The reorganization is supposed to make one-stop shopping -- buying advertising, public relations and design all in one place, or "Ogilvy Orchestration" in Ogilvyspeak -- a reality.@@@@1@27@@oe@2-2-2013
20554015@unknown@formal@none@1@S@Under the reorganization, Ogilvy plans to name one executive on each account as a "client service director" to work as the client's single contact for all those services.@@@@1@28@@oe@2-2-2013
20554016@unknown@formal@none@1@S@"There is little or no integration of our work, quality is spotty, there is no single focus," Mr. Phillips complained to staffers in March, when the reorganization was announced.@@@@1@29@@oe@2-2-2013
20554017@unknown@formal@none@1@S@Now Mr. Phillips says he hopes to have the new system in place for several clients -- including American Express, American Telephone & Telegraph and Ryder -- by year's end.@@@@1@30@@oe@2-2-2013
20554018@unknown@formal@none@1@S@Industry executives and analysts are divided on whether Mr. Phillips is up to the task.@@@@1@15@@oe@2-2-2013
20554019@unknown@formal@none@1@S@He isn't as well-known to clients as is Mr. Roman.@@@@1@10@@oe@2-2-2013
20554020@unknown@formal@none@1@S@Under his watch, office politicking was often rampant in the agency's New York operation and the office there has had a dismal new-business record for more than a year.@@@@1@29@@oe@2-2-2013
20554021@unknown@formal@none@1@S@And while last week the agency hired a top Chiat/Day/Mojo executive, Bill Hamilton, to try to bolster its work, "Graham has to get the revenue of that New York office moving," says James Dougherty, an analyst with County NatWest Securities.@@@@1@40@@oe@2-2-2013
20554022@unknown@formal@none@1@S@The one thing Mr. Phillips clearly does have going for him is continuity, although it isn't certain if that will be enough.@@@@1@22@@oe@2-2-2013
20554023@unknown@formal@none@1@S@As Mr. Dougherty says, "The last thing they need is enormous disruption at the top . . . and Graham is obviously a long-term member of the Ogilvy Mafia, as we call it."@@@@1@33@@oe@2-2-2013
20554024@unknown@formal@none@1@S@Mr. Phillips and Mr. Roman are indeed quite similar in substance, if not in style.@@@@1@15@@oe@2-2-2013
20554025@unknown@formal@none@1@S@While Mr. Roman is a workaholic detailsman, Mr. Phillips would rather delegate, leaving him time for his interests outside the office.@@@@1@21@@oe@2-2-2013
20554026@unknown@formal@none@1@S@Mr. Roman, by contrast, seems rarely to cut loose at all, although he did appear at Ogilvy's Halloween party Friday decked out in duck feet and a duck hat, costumed as a "lame duck."@@@@1@34@@oe@2-2-2013
20554027@unknown@formal@none@1@S@Mr. Phillips said the company's expected margin improvement will be all but inevitable, given that the company's profitability was dragged down this year by an expensive move to luxurious, oversized new New York headquarters.@@@@1@34@@oe@2-2-2013
20554028@unknown@formal@none@1@S@The move, budgeted at about $7 million, actually came in at about $10 million, he said.@@@@1@16@@oe@2-2-2013
20554029@unknown@formal@none@1@S@But margins will be helped, too, by some other cost-saving steps.@@@@1@11@@oe@2-2-2013
20554030@unknown@formal@none@1@S@Ogilvy eliminated the mail room staff, closed the executive dining room and, after the takeover, let go half a dozen financial executives.@@@@1@22@@oe@2-2-2013
20554031@unknown@formal@none@1@S@WPP, which assumes financial control of its businesses in a hands-on way, instituted a new financial system and plans to sublet some floors in Ogilvy's new headquarters building to outsiders.@@@@1@30@@oe@2-2-2013
20554032@unknown@formal@none@1@S@The fact that the agency will now be part of a U.K. company, under British accounting rules, will also make the profit picture look better.@@@@1@25@@oe@2-2-2013
20554033@unknown@formal@none@1@S@Y&R's Klein Steps Down@@@@1@4@@oe@2-2-2013
20554034@unknown@formal@none@1@S@Arthur Klein, president of Young & Rubicam's New York office, stepped down "temporarily" in the wake of charges by a federal grand jury in New Haven, Conn., that he, the agency and another top executive bribed Jamaican tourist officials to win its account in 1981.@@@@1@45@@oe@2-2-2013
20554035@unknown@formal@none@1@S@In an internal memo, Alex Kroll, the agency's chairman, said Mr. Klein decided to remove himself to minimize "negative reaction" from prospective clients and others and to prepare for his defense.@@@@1@31@@oe@2-2-2013
20554036@unknown@formal@none@1@S@"The fact that he is in the process of defending himself against the present charges could conceivably have an adverse impact on Y&R," Mr. Kroll wrote.@@@@1@26@@oe@2-2-2013
20554037@unknown@formal@none@1@S@He said Mr. Klein will return to his post at the end of the trial "at which he will be vindicated."@@@@1@21@@oe@2-2-2013
20554038@unknown@formal@none@1@S@Mr. Klein will work with Mr. Kroll on some of the agency's joint venture activities and acquisitions while the case is pending.@@@@1@22@@oe@2-2-2013
20554039@unknown@formal@none@1@S@Peter Georgescu, president of Y&R's ad operations, will assume Mr. Klein's day-to-day role.@@@@1@13@@oe@2-2-2013
20554040@unknown@formal@none@1@S@Wells Rich's New Partner@@@@1@4@@oe@2-2-2013
20554041@unknown@formal@none@1@S@Wells, Rich, Greene named Cheryl Heller as an executive vice president and creative partner in its image group, which concentrates on fashion and visually oriented advertising.@@@@1@26@@oe@2-2-2013
20554042@unknown@formal@none@1@S@Ms. Heller, 38, had headed up Boston agency Heller/Breene, a unit of WCRS.@@@@1@13@@oe@2-2-2013
20554043@unknown@formal@none@1@S@The agency, with about $35 million in billings, will be dissolved, with some of its staffers absorbed by WCRS's Della Femina McNamee unit in Boston, Ms. Heller said.@@@@1@28@@oe@2-2-2013
20554044@unknown@formal@none@1@S@She said it was too early to say what would happen to its clients, including Reebok and Apple.@@@@1@18@@oe@2-2-2013
20554045@unknown@formal@none@1@S@At Wells Rich, Ms. Heller will concentrate on accounts that include Philip Morris's Benson & Hedges cigarette brand, which relies on print ads, Ms. Heller's specialty.@@@@1@26@@oe@2-2-2013
20554046@unknown@formal@none@1@S@As previously reported, the account is troubled, with Philip Morris asking Backer Spielvogel Bates, Ogilvy & Mather, and possibly others to try their hand at developing new creative work.@@@@1@29@@oe@2-2-2013
20554047@unknown@formal@none@1@S@Wells Rich declined to comment on the status of the account, as did the other agencies.@@@@1@16@@oe@2-2-2013
20555001@unknown@formal@none@1@S@Waxman Industries Inc. said holders of $6,542,000 face amount of its 6 1/4% convertible subordinated debentures, due March 15, 2007, have elected to convert the debt into about 683,000 common shares.@@@@1@31@@oe@2-2-2013
20555002@unknown@formal@none@1@S@The conversion price is $9.58 a share.@@@@1@7@@oe@2-2-2013
20555003@unknown@formal@none@1@S@The company said the holders represent 52% of the face amount of the debentures.@@@@1@14@@oe@2-2-2013
20555004@unknown@formal@none@1@S@Waxman sells a variety of hardware products for the home repair market.@@@@1@12@@oe@2-2-2013
20556001@unknown@formal@none@1@S@R.H. Macy & Co., the closely held department store chain, said in a financial filing Friday that its sales for the fiscal fourth quarter ended July 29 were up 10% to $1.59 billion against $1.44 billion a year earlier.@@@@1@39@@oe@2-2-2013
20556002@unknown@formal@none@1@S@Comparable store sales for the quarter were up 7.3%.@@@@1@9@@oe@2-2-2013
20556003@unknown@formal@none@1@S@The net loss for the quarter was $43.1 million against a year-earlier loss of $106 million.@@@@1@16@@oe@2-2-2013
20556004@unknown@formal@none@1@S@The loss in the fourth quarter of 1988 reflected in part expenses for an unsuccessful bid for Federated Department Stores Inc., as well as the restructuring of some of its department store operations.@@@@1@33@@oe@2-2-2013
20556005@unknown@formal@none@1@S@For the year, sales were up 5.6% to $6.97 billion compared with $6.61 billion in fiscal 1988.@@@@1@17@@oe@2-2-2013
20556006@unknown@formal@none@1@S@Sales for both years reflect 12-month performances for each year of I. Magnin, Bullock's, and Bullocks Wilshire.@@@@1@17@@oe@2-2-2013
20556007@unknown@formal@none@1@S@Macy acquired those three businesses in May 1988.@@@@1@8@@oe@2-2-2013
20556008@unknown@formal@none@1@S@On a comparable store basis, including the new acquisitions for both years, sales for fiscal 1989 were up 1.9%.@@@@1@19@@oe@2-2-2013
20556009@unknown@formal@none@1@S@Macy reported a net loss for fiscal 1989 of $53.7 million compared with a net loss of $188.2 million for fiscal 1988.@@@@1@22@@oe@2-2-2013
20556010@unknown@formal@none@1@S@The company's earnings before interest, taxes and depreciation, which bondholders use a measurement of the chain's ability to pay its existing debt, increased 11% in fiscal 1989 to $926.1 million from $833.6 million.@@@@1@33@@oe@2-2-2013
20556011@unknown@formal@none@1@S@The $833.6 million figures includes the new acquisitions.@@@@1@8@@oe@2-2-2013
20556012@unknown@formal@none@1@S@Excluding those businesses, earnings before interest, taxes and depreciation for 1988 would have been $728.5 million.@@@@1@16@@oe@2-2-2013
20556013@unknown@formal@none@1@S@As of Feb. 1, 1990, the Bullocks Wilshire stores will operate as I. Magnin stores.@@@@1@15@@oe@2-2-2013
20556014@unknown@formal@none@1@S@Altogether, Macy and its subsidiaries own or lease 149 department stores and 61 specialty stores nationwide.@@@@1@16@@oe@2-2-2013
20556015@unknown@formal@none@1@S@Although management led a leveraged buy-out of R.H. Macy in July 1986, the company still makes financial filings because of its publicly traded debt.@@@@1@24@@oe@2-2-2013
20556016@unknown@formal@none@1@S@The company estimates its total debt at about $5.2 billion.@@@@1@10@@oe@2-2-2013
20556017@unknown@formal@none@1@S@This includes $4.6 billion of long-term debt, $457.5 million in short-term debt, and $95.7 million of the current portion of long-term debt.@@@@1@22@@oe@2-2-2013
20556018@unknown@formal@none@1@S@In a letter to investors, Chairman Edward S. Finkelstein wrote that he expects the company to "benefit from some of the disruption faced by our competitors.@@@@1@26@@oe@2-2-2013
20556019@unknown@formal@none@1@S@While our competitors are concerned with their financial viability and possible ownership changes, we will be concentrating on buying and selling merchandise our customers need and want."@@@@1@27@@oe@2-2-2013
20556020@unknown@formal@none@1@S@Mr. Finkelstein is apparently referring to B. Altman and Bonwit Teller, two New York retailers that have recently filed for Chapter 11 bankruptcy protection, as well as the retail chains owned by financially troubled Campeau Corp.@@@@1@36@@oe@2-2-2013
20556021@unknown@formal@none@1@S@Those chains include Bloomingdale's, which Campeau recently said it will sell.@@@@1@11@@oe@2-2-2013
20556022@unknown@formal@none@1@S@Other retail properties for sale include Saks Fifth Avenue and Marshall Field, retailers now owned by B.A.T PLC, the British tobacco conglomerate.@@@@1@22@@oe@2-2-2013
20556023@unknown@formal@none@1@S@In his letter, Mr. Finkelstein also referred to the recent San Francisco earthquake.@@@@1@13@@oe@2-2-2013
20556024@unknown@formal@none@1@S@Mr. Finkelstein flew to San Francisco the day after the earthquake, and found that 10 to 12 of his company's stores had sustained some damage, including the breakage of most windows at the I. Magnin store on Union Square.@@@@1@39@@oe@2-2-2013
20556025@unknown@formal@none@1@S@"The volume and profit impact on our fiscal first quarter will not be positive, but looking at the whole fiscal year, we don't see the effect as material," wrote Mr. Finkelstein.@@@@1@31@@oe@2-2-2013
20557001@unknown@formal@none@1@S@RJR Nabisco Inc. said it agreed to sell its Baby Ruth, Butterfinger and Pearson candy businesses to Nestle S.A.'s Nestle Foods unit for $370 million.@@@@1@25@@oe@2-2-2013
20557002@unknown@formal@none@1@S@The sale, at a higher price than some analysts had expected, helps the food and tobacco giant raise funds to pay debt and boosts Nestle's 7% share of the U.S. candy market to about 12%.@@@@1@35@@oe@2-2-2013
20557003@unknown@formal@none@1@S@The candy businesses had sales of about $154 million last year, which was roughly 12% of total revenue for RJR's Planters LifeSavers unit, according to a memorandum distributed by RJR's owner, Kohlberg Kravis Roberts & Co., to bankers last December.@@@@1@40@@oe@2-2-2013
20557004@unknown@formal@none@1@S@The Nestle acquisition includes a candy plant in Franklin Park, Ill., which employs about 800 workers.@@@@1@16@@oe@2-2-2013
20557005@unknown@formal@none@1@S@The sale, which had been expected, is part of KKR's program to pay down $5 billion of a $6 billion bridge loan by February.@@@@1@24@@oe@2-2-2013
20557006@unknown@formal@none@1@S@Roughly $2 billion of that debt has already been repaid from previous asset sales, and RJR expects to use another $2 billion from the pending, two-part sale of most of its Del Monte unit.@@@@1@34@@oe@2-2-2013
20557007@unknown@formal@none@1@S@That sale, however, could still fall through if financing problems develop.@@@@1@11@@oe@2-2-2013
20557008@unknown@formal@none@1@S@Thus, it remains crucial for RJR to obtain top dollar for its smaller assets like the candy brands.@@@@1@18@@oe@2-2-2013
20557009@unknown@formal@none@1@S@Louis Gerstner Jr., chairman and chief executive officer of New York-based RJR, called the sale a "significant step" in the company's divestiture program, as well as a "a strategic divestiture."@@@@1@30@@oe@2-2-2013
20557010@unknown@formal@none@1@S@Since KKR bought RJR in February for $25 billion of debt, it has agreed to sell nearly $5 billion of RJR assets.@@@@1@22@@oe@2-2-2013
20557011@unknown@formal@none@1@S@RJR's executives have said they will dispense with certain brands, in particular, that aren't leaders in their markets.@@@@1@18@@oe@2-2-2013
20557012@unknown@formal@none@1@S@"RJR Nabisco and Planters LifeSavers will concentrate more on our own core businesses," Mr. Gerstner said Friday.@@@@1@17@@oe@2-2-2013
20557013@unknown@formal@none@1@S@Baby Ruth and Butterfinger are both among the top-selling 15 chocolate bars in the U.S., but RJR's overall share of the roughly $5.1 billion market is less than 5%.@@@@1@29@@oe@2-2-2013
20557014@unknown@formal@none@1@S@Nestle's share of 7% before Friday's purchases is far below the shares of market leaders Hershey Foods Corp. and Mars Inc., which have about 40% and 36% of the market, respectively.@@@@1@31@@oe@2-2-2013
20557015@unknown@formal@none@1@S@"This means Nestle is now in the candybar business in a big way," said Lisbeth Echeandia, publisher of Orlando, Fla.-based Confectioner Magazine.@@@@1@22@@oe@2-2-2013
20557016@unknown@formal@none@1@S@"For them, it makes all kinds of sense.@@@@1@8@@oe@2-2-2013
20557017@unknown@formal@none@1@S@They've been given a mandate from Switzerland" to expand their U.S. chocolate operations.@@@@1@13@@oe@2-2-2013
20557018@unknown@formal@none@1@S@Nestle S.A. is based in Vevey, Switzerland.@@@@1@7@@oe@2-2-2013
20557019@unknown@formal@none@1@S@The new candy bars, "make an important contribution to our Nestle Foods commitment to this very important strategic unit," said C. Alan MacDonald, president of Nestle Foods in Purchase, N.Y.@@@@1@30@@oe@2-2-2013
20558001@unknown@formal@none@1@S@Aetna Life & Casualty Co.'s third-quarter net income fell 22% to $182.6 million, or $1.63 a share, reflecting the damages from Hurricane Hugo and lower results for some of the company's major divisions.@@@@1@33@@oe@2-2-2013
20558002@unknown@formal@none@1@S@Catastrophe losses reduced Aetna's net income by $50 million, including $36 million from Hugo.@@@@1@14@@oe@2-2-2013
20558003@unknown@formal@none@1@S@Last year catastrophe losses totaled $5 million, when net was $235.5 million, or $2.07 a share.@@@@1@16@@oe@2-2-2013
20558004@unknown@formal@none@1@S@The year-earlier results have been restated to reflect an accounting change.@@@@1@11@@oe@2-2-2013
20558005@unknown@formal@none@1@S@The insurer has started processing claims from the Northern California earthquake nearly two weeks ago.@@@@1@15@@oe@2-2-2013
20558006@unknown@formal@none@1@S@But because these claims are more difficult to evaluate and have been coming in more slowly, the company has no estimate of the impact of the earthquake on fourth-quarter results.@@@@1@30@@oe@2-2-2013
20558007@unknown@formal@none@1@S@In New York Stock Exchange composite trading Friday, Aetna closed at $60, down 50 cents.@@@@1@15@@oe@2-2-2013
20558008@unknown@formal@none@1@S@In the latest quarter, Aetna had a $23 million loss on its auto/homeowners line, compared with earnings of $33 million last year.@@@@1@22@@oe@2-2-2013
20558009@unknown@formal@none@1@S@Profit for its commercial insurance division fell 30% to $59 million, reflecting higher catastrophe losses and the price war in the property/casualty market for nearly three years.@@@@1@27@@oe@2-2-2013
20558010@unknown@formal@none@1@S@However, Aetna's employee benefits division, which includes its group health insurance operations, posted a 34% profit gain to $106 million.@@@@1@20@@oe@2-2-2013
20558011@unknown@formal@none@1@S@Third-quarter results included net realized capital gains of $48 million, which included $27 million from the sale of Federated Investors in August and a $15 million tax credit.@@@@1@28@@oe@2-2-2013
20558012@unknown@formal@none@1@S@In the nine months, net rose 4.3% to $525.8 million or $4.67 a share, from $504.2 million, or $4.41 a share, last year.@@@@1@23@@oe@2-2-2013
20559001@unknown@formal@none@1@S@Out of the mouths of revolutionaries are coming words of moderation.@@@@1@11@@oe@2-2-2013
20559002@unknown@formal@none@1@S@Here, at a soccer stadium near the black township of Soweto yesterday, were eight leaders of the African National Congress, seven of whom had spent most of their adult lives in prison for sabotage and conspiracy to overthrow the government.@@@@1@40@@oe@2-2-2013
20559003@unknown@formal@none@1@S@Here were more than 70,000 ANC supporters, gathering for the first ANC rally inside South Africa since the black liberation movement was banned in 1960.@@@@1@25@@oe@2-2-2013
20559004@unknown@formal@none@1@S@Here was the state security appartus poised to pounce on any words or acts of provocation, let alone revolution.@@@@1@19@@oe@2-2-2013
20559005@unknown@formal@none@1@S@But the words that boomed over the loudspeakers bore messages of peace, unity, negotiation and discipline.@@@@1@16@@oe@2-2-2013
20559006@unknown@formal@none@1@S@"We stand for peace today and we will stand for peace tomorrow," said Walter Sisulu, the ANC's former secretary general who, along with five of his colleagues, served 26 years in prison before being released two weeks ago.@@@@1@38@@oe@2-2-2013
20559007@unknown@formal@none@1@S@Some members of the huge crowd shouted "Viva peace, viva."@@@@1@10@@oe@2-2-2013
20559008@unknown@formal@none@1@S@These are curious times in South African politics.@@@@1@8@@oe@2-2-2013
20559009@unknown@formal@none@1@S@The government and the ANC, the bitterest of enemies, are engaged in an elaborate mating dance designed to entice each other to the negotiating table.@@@@1@25@@oe@2-2-2013
20559010@unknown@formal@none@1@S@Pretoria releases the ANC leaders, most of whom were serving life sentences, and allows them to speak freely, hoping that the ANC will abandon its use of violence.@@@@1@28@@oe@2-2-2013
20559011@unknown@formal@none@1@S@The ANC leaders speak in tones of moderation, emphasizing discipline, hoping the government will be encouraged to take further steps, such as freeing Nelson Mandela, the most prominent ANC figure, and unbanning the organization.@@@@1@34@@oe@2-2-2013
20559012@unknown@formal@none@1@S@The government of President F.W. de Klerk is using this situation to improve its international image and head off further economic sanctions.@@@@1@22@@oe@2-2-2013
20559013@unknown@formal@none@1@S@Meanwhile, the many organizations inside the country that back the ANC are taking the opportunity to regain their strength and mobilize their supporters even though the state of emergency, which has severely curtailed black opposition, remains in force.@@@@1@38@@oe@2-2-2013
20559014@unknown@formal@none@1@S@The result is that the unthinkable and illogical are happening.@@@@1@10@@oe@2-2-2013
20559015@unknown@formal@none@1@S@Six months ago, government approval for an ANC rally was inconceivable.@@@@1@11@@oe@2-2-2013
20559016@unknown@formal@none@1@S@Equally inconceivable is that the ANC, given the chance to hold a rally, would extend a hand, albeit warily, to the government.@@@@1@22@@oe@2-2-2013
20559017@unknown@formal@none@1@S@In a message read out at the rally, exiled ANC President Oliver Tambo, who can't legally be quoted in South Africa, said the country was at a crossroads and that Mr. de Klerk "may yet earn a place among the peacemakers of our country" if he chooses a "path of genuine political settlement."@@@@1@53@@oe@2-2-2013
20559018@unknown@formal@none@1@S@Still, this doesn't mean that either the government or the ANC is changing stripes -- or that either has moved significantly closer to the other.@@@@1@25@@oe@2-2-2013
20559019@unknown@formal@none@1@S@The government may ease repression in some areas, but it still keeps a tight grip in others.@@@@1@17@@oe@2-2-2013
20559020@unknown@formal@none@1@S@For instance, it releases Mr. Sisulu without conditions, yet his son, Zwelakhe, a newspaper editor, is restricted to his home much of the day and isn't allowed to work as a journalist.@@@@1@32@@oe@2-2-2013
20559021@unknown@formal@none@1@S@The ANC vows to keep up pressure on the government.@@@@1@10@@oe@2-2-2013
20559022@unknown@formal@none@1@S@Speakers yesterday called on foreign governments to increase sanctions against Pretoria and urged supporters inside the country to continue defying emergency restrictions and racial segregation, known as apartheid.@@@@1@28@@oe@2-2-2013
20559023@unknown@formal@none@1@S@"We cannot wait on the government to make changes at its own pace," Mr. Sisulu said.@@@@1@16@@oe@2-2-2013
20559024@unknown@formal@none@1@S@Because the ANC remains banned, both the government, which approved the rally, and the organizers, who orchestrated it, denied it was an ANC rally.@@@@1@24@@oe@2-2-2013
20559025@unknown@formal@none@1@S@They both called it a "welcome home" gathering.@@@@1@8@@oe@2-2-2013
20559026@unknown@formal@none@1@S@Nevertheless, an ANC rally by any other name is still an ANC rally.@@@@1@13@@oe@2-2-2013
20559027@unknown@formal@none@1@S@The recently released leaders sat high atop a podium in one section of the stadium stands.@@@@1@16@@oe@2-2-2013
20559028@unknown@formal@none@1@S@Behind them was a huge ANC flag and an even bigger sign that said "ANC Lives, ANC Leads."@@@@1@18@@oe@2-2-2013
20559029@unknown@formal@none@1@S@Next to them was the red flag of the outlawed South African Communist Party, which has long been an ANC ally.@@@@1@21@@oe@2-2-2013
20559030@unknown@formal@none@1@S@In the stands, people waved ANC flags, wore ANC T-shirts, sang ANC songs and chanted ANC slogans.@@@@1@17@@oe@2-2-2013
20559031@unknown@formal@none@1@S@"Today," said Mr. Sisulu, "the ANC has captured the center stage of political life in South Africa."@@@@1@17@@oe@2-2-2013
20559032@unknown@formal@none@1@S@As a police helicopter circled overhead, Mr. Sisulu repeated the ANC's demands on the government to create a climate for negotiations: Release all political prisoners unconditionally; lift all bans and restrictions on individuals and organizations; remove all troops from the black townships; end the state of emergency, and cease all political trials and political executions.@@@@1@55@@oe@2-2-2013
20559033@unknown@formal@none@1@S@If these conditions are met, he said, the ANC would be prepared to discuss suspending its guerrilla activities.@@@@1@18@@oe@2-2-2013
20559034@unknown@formal@none@1@S@"There can be no question of us unilaterally abandoning the armed struggle," he said. "@@@@1@15@@oe@2-2-2013
20559035@unknown@formal@none@1@S@To date, we see no clear indication that the government is serious about negotiations.@@@@1@14@@oe@2-2-2013
20559036@unknown@formal@none@1@S@All their utterances are vague."@@@@1@5@@oe@2-2-2013
20559037@unknown@formal@none@1@S@Echoing a phrase from Mr. de Klerk, Mr. Sisulu said, "Let all of us who love this country engage in the task of building a new South Africa.@@@@1@28@@oe@2-2-2013
20560001@unknown@formal@none@1@S@When Westinghouse Electric Corp. shuttered its massive steam turbine plant in Lester, Pa., three years ago, it seemed like the company had pulled the plug on its century-old power generation business.@@@@1@31@@oe@2-2-2013
20560002@unknown@formal@none@1@S@But now Westinghouse is enjoying a resurgence in demand for both steam and combustion turbines and may even join the growing legion of independent electric producers.@@@@1@26@@oe@2-2-2013
20560003@unknown@formal@none@1@S@And with its new venture with Japan's Mitsubishi Heavy Industries Ltd., announced last week, it is poised to penetrate growing markets overseas.@@@@1@22@@oe@2-2-2013
20560004@unknown@formal@none@1@S@For the first time since the mid-1970s, Westinghouse this year has seen a significant increase in orders for power plants.@@@@1@20@@oe@2-2-2013
20560005@unknown@formal@none@1@S@Most are from independent producers instead of regulated utilities, and Westinghouse believes it will ride a wave of demand stretching over the next six years.@@@@1@25@@oe@2-2-2013
20560006@unknown@formal@none@1@S@Analysts agree, predicting that the revived market could significantly boost Westinghouse's bottom line in coming years.@@@@1@16@@oe@2-2-2013
20560007@unknown@formal@none@1@S@"Westinghouse's earnings could be materially enhanced in the mid-1990s or sooner," says Russell L. Leavitt, of Salomon Brothers Inc.@@@@1@19@@oe@2-2-2013
20560008@unknown@formal@none@1@S@The company expects a need for 140,000 megawatts of new generation in the U.S. over the next decade.@@@@1@18@@oe@2-2-2013
20560009@unknown@formal@none@1@S@Already this year, it has received orders for four 150-megawatt advanced combustion turbines from Florida Power & Light Co. and for two 300-megawatt plants from Intercontinental Energy Corp., among others.@@@@1@30@@oe@2-2-2013
20560010@unknown@formal@none@1@S@Westinghouse's own role as a supplier also is changing.@@@@1@9@@oe@2-2-2013
20560011@unknown@formal@none@1@S@In the past, the company usually took token equity positions in power plants it supplied as a "kicker" to close deals.@@@@1@21@@oe@2-2-2013
20560012@unknown@formal@none@1@S@But last June's annnouncement that Westinghouse would put up all of the $70 million to build a new 55-megawatt plant could herald a new age.@@@@1@25@@oe@2-2-2013
20560013@unknown@formal@none@1@S@Westinghouse's plant will provide electrical power to the Southern California Edison Co. and backup power and steam to the U.S. Borax & Chemical Co.@@@@1@24@@oe@2-2-2013
20560014@unknown@formal@none@1@S@"We haven't decided on a strategy yet, but we could become an independent producer depending on whether we're the developer or just the supplier," says Theodore Stern, executive vice president of the company's energy and utility systems group.@@@@1@38@@oe@2-2-2013
20560015@unknown@formal@none@1@S@At the same time, Westinghouse hopes its venture with Mitsubishi will help fend off growing competition, particularly in the U.S., from such European competitors as Asea Brown Boveri AG, Siemens AG, and British General Electric Co.@@@@1@36@@oe@2-2-2013
20560016@unknown@formal@none@1@S@Under the agreement, Westinghouse will be able to purchase smaller combustion turbines from its Japanese partner, and package and sell them with its own generators and other equipment.@@@@1@28@@oe@2-2-2013
20560017@unknown@formal@none@1@S@Westinghouse also jointly will bid on projects with Misubishi, giving it an edge in developing Asian markets.@@@@1@17@@oe@2-2-2013
20560018@unknown@formal@none@1@S@In addition, the two companies will develop new steam turbine technology, such as the plants ordered by Florida Power, and even utilize each other's plants at times to take advantage of currency fluctuations.@@@@1@33@@oe@2-2-2013
20560019@unknown@formal@none@1@S@"Even though we'll still compete against Mitsubishi, we can also work jointly on some projects, and we'll gain a lot of sourcing flexibility," Mr. Stern contends.@@@@1@26@@oe@2-2-2013
20560020@unknown@formal@none@1@S@The Westinghouse-Mitsubishi venture was designed as a non-equity transaction, circumventing any possible antitrust concerns.@@@@1@14@@oe@2-2-2013
20560021@unknown@formal@none@1@S@Westinghouse carefully crafted the agreement because the Justice Department earlier this year successfully challenged a proposed steam turbine joint venture with Asea Brown Boveri.@@@@1@24@@oe@2-2-2013
20560022@unknown@formal@none@1@S@It is expected that the current surge in demand for new power will be filled primarily by independent producers which, unlike utilities, aren't regulated and therefore don't need government approval to construct new plants.@@@@1@34@@oe@2-2-2013
20560023@unknown@formal@none@1@S@Westinghouse expects about half of its new orders for turbines to come from independent producers for at least the next six years.@@@@1@22@@oe@2-2-2013
20560024@unknown@formal@none@1@S@Despite shutdowns of the company's Lester and East Pittsburgh plants, the company believes it has sufficient capacity to meet near-term demand with its much smaller and more efficient manufacturing facilities in North Carolina.@@@@1@33@@oe@2-2-2013
20560025@unknown@formal@none@1@S@Still, Westinghouse acknowledges that demand from independent producers could evaporate if prices for fuel such as natural gas or oil rise sharply or if utilities, which have been pressured by regulators to keep down rates, are suddenly freed to add significant generating capacity.@@@@1@43@@oe@2-2-2013
20560026@unknown@formal@none@1@S@Even if that scenario occurs, Westinghouse figures it is prepared.@@@@1@10@@oe@2-2-2013
20560027@unknown@formal@none@1@S@The company already is gearing up for a renaissance of nuclear power even though it hasn't received an order for a domestic nuclear plant in a decade.@@@@1@27@@oe@2-2-2013
20560028@unknown@formal@none@1@S@John C. Marous, chairman and chief executive officer, says he expects a commercial order by 1995 for the company's AP600 nuclear power plant, which is under development.@@@@1@27@@oe@2-2-2013
20560029@unknown@formal@none@1@S@"Once we see an order, we expect it'll be on line by 2000.@@@@1@13@@oe@2-2-2013
20561001@unknown@formal@none@1@S@Among the things I learned covering the World Series these past few weeks is that the Richter scale, which measures earthquakes, isn't like the one in your bathroom.@@@@1@28@@oe@2-2-2013
20561002@unknown@formal@none@1@S@A quake that measures two on the Richter isn't twice as severe as a "one" -- it's 10 times worse.@@@@1@20@@oe@2-2-2013
20561003@unknown@formal@none@1@S@A "three" is 10 times 10 again, and so on.@@@@1@10@@oe@2-2-2013
20561004@unknown@formal@none@1@S@That put the "seven" of Oct. 17 in perspective for me.@@@@1@11@@oe@2-2-2013
20561005@unknown@formal@none@1@S@Think I'll buy one of those "I Survived" T-shirts after all.@@@@1@11@@oe@2-2-2013
20561006@unknown@formal@none@1@S@By Richterian standards, the show that the Oakland Athletics put on Friday and Saturday nights, in putting a mercifully swift end to the game's Longest Short Series, rated somewhere between a 10 and an 11.@@@@1@35@@oe@2-2-2013
20561007@unknown@formal@none@1@S@The boys with the white elephants on their sleeves might not have made the earth move much, but they certainly did some impressive things with baseballs.@@@@1@26@@oe@2-2-2013
20561008@unknown@formal@none@1@S@The Pale Pachyderms propelled six of 'em out of the unfriendly confines of Candlestick Park during the two games en route to 13-7 and 9-6 wins over the San Francisco Giants.@@@@1@31@@oe@2-2-2013
20561009@unknown@formal@none@1@S@Combined with their two pre-quake victories, way back on Oct. 14 and 15 (the scores were 5-0 and 5-1, remember?), that gave them a sweep of the best-of-seven series.@@@@1@29@@oe@2-2-2013
20561010@unknown@formal@none@1@S@The joke here is that the Giants lost by de fault.@@@@1@11@@oe@2-2-2013
20561011@unknown@formal@none@1@S@That's geologically correct, but a trifle unfair otherwise.@@@@1@8@@oe@2-2-2013
20561012@unknown@formal@none@1@S@They showed up, but didn't -- or couldn't -- challenge.@@@@1@10@@oe@2-2-2013
20561013@unknown@formal@none@1@S@They led for nary an inning in the four games, and managed to stir their fans only once.@@@@1@18@@oe@2-2-2013
20561014@unknown@formal@none@1@S@That came in the seventh inning of Game Four when, trailing 8-2, they scored four times and brought their big heat -- Will Clark and Kevin Mitchell -- to the plate with one out and a runner on.@@@@1@38@@oe@2-2-2013
20561015@unknown@formal@none@1@S@But Clark flied out to short right field and Mitchell's drive to left was caught on the warning track by Rickey Henderson as 62,000 sets of lungs exhaled as one.@@@@1@30@@oe@2-2-2013
20561016@unknown@formal@none@1@S@"I went out to Todd {Burns, the A's reliever} and told him that we weren't gonna let this guy beat us," said Oakland catcher Terry Steinbach of the decisive confrontation with Mitchell, the National League's reigning home-run king.@@@@1@38@@oe@2-2-2013
20561017@unknown@formal@none@1@S@"I told him to make Mitchell reach for everything, and that's what we did.@@@@1@14@@oe@2-2-2013
20561018@unknown@formal@none@1@S@The ball he hit wasn't a strike.@@@@1@7@@oe@2-2-2013
20561019@unknown@formal@none@1@S@If it had been, he mighta hit it out."@@@@1@9@@oe@2-2-2013
20561020@unknown@formal@none@1@S@But if the A's hadn't won in four, they would have prevailed in five, or six, or seven.@@@@1@18@@oe@2-2-2013
20561021@unknown@formal@none@1@S@The best team won this Series, which is more unusual than it may sound.@@@@1@14@@oe@2-2-2013
20561022@unknown@formal@none@1@S@Baseball ain't football, where the good teams beat up on the bad ones.@@@@1@13@@oe@2-2-2013
20561023@unknown@formal@none@1@S@The best baseball teams win six of 10 games and the worst win four of 10.@@@@1@16@@oe@2-2-2013
20561024@unknown@formal@none@1@S@Without becoming overly contentious, allow me to suggest that several recent champions of the world according to us (as in U.S.) might not have ranked No. 1 in many polls.@@@@1@30@@oe@2-2-2013
20561025@unknown@formal@none@1@S@That list includes last season's champs, the Los Angeles Dodgers, who rode a miracle home run by Kirk Gibson and two faultless pitching performances by Orel Hershiser to a five-game triumph over a bewitched, bothered Oakland crew.@@@@1@37@@oe@2-2-2013
20561026@unknown@formal@none@1@S@These A's, however, got few grades as low as B on their 1989 report card.@@@@1@15@@oe@2-2-2013
20561027@unknown@formal@none@1@S@They led the Major Leagues in regular-season wins with 99 and flattened the Toronto Blue Jays four games to one for the American League pennant before stomping their cross-bay rivals.@@@@1@30@@oe@2-2-2013
20561028@unknown@formal@none@1@S@The pithiest testimony to their domination of the just-concluded tournament came from Giants' manager Roger Craig after his team had fallen in Game Three to a five-home-run barrage that tied a 61-year-old Series record.@@@@1@34@@oe@2-2-2013
20561029@unknown@formal@none@1@S@Asked what he would do differently on the morrow, Craig allowed that he might play his outfielders deeper, "maybe on the other side of the fence."@@@@1@26@@oe@2-2-2013
20561030@unknown@formal@none@1@S@The A's offensive showing in the Series got an A, as in awesome.@@@@1@13@@oe@2-2-2013
20561031@unknown@formal@none@1@S@Their 85 total bases broke a record for a four-game set, and their nine home runs tied one.@@@@1@18@@oe@2-2-2013
20561032@unknown@formal@none@1@S@Eight Oakland players hit homers, with centerfielder Dave Henderson getting two, both on Friday.@@@@1@14@@oe@2-2-2013
20561033@unknown@formal@none@1@S@Rickey Henderson, the do-everything leadoff man, had nine hits and set or tied four-game Series marks for triples (2) and stolen bases (3).@@@@1@23@@oe@2-2-2013
20561034@unknown@formal@none@1@S@The sole A not to homer was cleanup hitter Mark McGwire, their regular-season leader with 33, and he contributed five hits plus a diving fielding play on a ground ball in Game Three that stopped a Giant rally while the issue still was in doubt.@@@@1@45@@oe@2-2-2013
20561035@unknown@formal@none@1@S@"Think I'll redo my image -- get this changed to a glove," quipped the big first baseman Saturday night, fingering the gold bat he wears on a neck chain.@@@@1@29@@oe@2-2-2013
20561036@unknown@formal@none@1@S@Even with that power show, though, the Oakland Series' star, certified by the Most Valuable Player award, was a pitcher, Dave Stewart.@@@@1@22@@oe@2-2-2013
20561037@unknown@formal@none@1@S@He shut out the Giants on five hits in Game One, and allowed three runs on five hits in seven innings Friday after the 12-day break caused by the earthquake.@@@@1@30@@oe@2-2-2013
20561038@unknown@formal@none@1@S@Stewart's honor was a nice note on a couple of grounds.@@@@1@11@@oe@2-2-2013
20561039@unknown@formal@none@1@S@One was that, despite his 62 regular-season wins over the past three seasons in the Land Beyond the Late News, he has been overshadowed by his more-muscular mates and missed out on prizes that might have been his due.@@@@1@39@@oe@2-2-2013
20561040@unknown@formal@none@1@S@The other is that he's an Oakland native, and lifted residents' spirits by his visits to quake-hit areas last week.@@@@1@20@@oe@2-2-2013
20561041@unknown@formal@none@1@S@Afterward, as the A's toasted their victory with beer (they dispensed with traditional champagne showers in deference to the quake victims), Stewart said he thought his championship-team ring would outshine his individual trophy.@@@@1@33@@oe@2-2-2013
20561042@unknown@formal@none@1@S@"Give me four or five more Series with these guys, and I don't care if I ever win a Cy Young," he said, in reference to baseball's best-pitcher award.@@@@1@29@@oe@2-2-2013
20561043@unknown@formal@none@1@S@Indeed, the possibility of an A's ring cycle, a/k/a a dynasty, was a major topic of post-game discussion Saturday, so much so that Sandy Alderson, the team's general manager, felt obliged to dampen it.@@@@1@34@@oe@2-2-2013
20561044@unknown@formal@none@1@S@"People change, teams change," he cautioned.@@@@1@6@@oe@2-2-2013
20561045@unknown@formal@none@1@S@"It's easier to get worse than better in this game."@@@@1@10@@oe@2-2-2013
20561046@unknown@formal@none@1@S@He might have added an interesting historical fact: The last Series sweep, by the Cincinnati Reds, came in 1976, which also was the first year of baseball player free agency.@@@@1@30@@oe@2-2-2013
20561047@unknown@formal@none@1@S@It was widely predicted that free agency would allow the glamorous, "big market" teams to monopolize the best talent, but quite the opposite has occurred: Twelve different clubs have won titles in the 14 seasons since its advent.@@@@1@38@@oe@2-2-2013
20561048@unknown@formal@none@1@S@The number includes such unstylish burgs as, well, Oakland.@@@@1@9@@oe@2-2-2013
20562001@unknown@formal@none@1@S@The rationale for responding to your customers' needs faster than the competition can is clear: Your company will benefit in terms of market share, customer satisfaction and profitability.@@@@1@28@@oe@2-2-2013
20562002@unknown@formal@none@1@S@In fact, managers today are probably more aware of speed as a competitive variable than ever before.@@@@1@17@@oe@2-2-2013
20562003@unknown@formal@none@1@S@However, for many, managing speed does not come naturally.@@@@1@9@@oe@2-2-2013
20562004@unknown@formal@none@1@S@"Most of us grew up believing in the axioms `Haste makes waste' and `Don't cut corners,' ideas that seem to run counter to the concept of managing speed," says Dean Cassell, vice president for product integrity at Grumman Corp.@@@@1@39@@oe@2-2-2013
20562005@unknown@formal@none@1@S@"But in the real world, you learn that speed and quality are not a trade-off.@@@@1@15@@oe@2-2-2013
20562006@unknown@formal@none@1@S@Speed is a component of quality -- one of the things we must deliver to satisfy customers."@@@@1@17@@oe@2-2-2013
20562007@unknown@formal@none@1@S@Companies that actually market speed as part of their service train their managers to lead and participate in teams that increase speed and improve quality in everyday operations.@@@@1@28@@oe@2-2-2013
20562008@unknown@formal@none@1@S@Managers learn to spot opportunities to increase customer satisfaction through speed, and shift some responsibility for analyzing, improving and streamlining work processes from themselves to teams of employees.@@@@1@28@@oe@2-2-2013
20562009@unknown@formal@none@1@S@One team at the Federal Express Ground Operations station in Natick, Mass., focused on a particularly time-sensitive operation: the morning package sort.@@@@1@22@@oe@2-2-2013
20562010@unknown@formal@none@1@S@Every morning, tractor-trailer trucks arrive at the Natick Ground Station from Boston's Logan Airport, carrying the day's package load.@@@@1@19@@oe@2-2-2013
20562011@unknown@formal@none@1@S@In peak periods that load may include 4,000 pieces.@@@@1@9@@oe@2-2-2013
20562012@unknown@formal@none@1@S@The packages must be sorted quickly and distributed to smaller vans for delivery, so couriers can be on the road by 8:35.@@@@1@22@@oe@2-2-2013
20562013@unknown@formal@none@1@S@No customer is present at the morning package sort, but the process is nevertheless critical to customer satisfaction.@@@@1@18@@oe@2-2-2013
20562014@unknown@formal@none@1@S@"We're committed to deliver the customer's package by a stated time, usually 10:30," notes Glenn Mortimer, a Federal Express courier who led the Natick team.@@@@1@25@@oe@2-2-2013
20562015@unknown@formal@none@1@S@"The sooner our vans hit the road each morning, the easier it is for us to fulfill that obligation."@@@@1@19@@oe@2-2-2013
20562016@unknown@formal@none@1@S@Following a problem-solving formula used by teams throughout Federal Express, members of the Natick team monitored their morning routine, carefully noting where and when the work group's resources were used effectively and where they were idle, waiting for others upstream in the process to send packages their way.@@@@1@48@@oe@2-2-2013
20562017@unknown@formal@none@1@S@"We suspected there was downtime built into our process.@@@@1@9@@oe@2-2-2013
20562018@unknown@formal@none@1@S@But we didn't know just where it was until we completed our data gathering," Mr. Mortimer says.@@@@1@17@@oe@2-2-2013
20562019@unknown@formal@none@1@S@"We used the data to redesign our sorting system and put our resources where they could do the most good."@@@@1@20@@oe@2-2-2013
20562020@unknown@formal@none@1@S@The team even created a points system to identify those couriers and subgroups that were doing the most to reduce package-sort cycle time.@@@@1@23@@oe@2-2-2013
20562021@unknown@formal@none@1@S@Winners of the friendly competition earn a steak dinner out with their spouses.@@@@1@13@@oe@2-2-2013
20562022@unknown@formal@none@1@S@"Monitoring shows that the Natick team's new system really does reduce cycle time for the morning package sort," reports James Barksdale, chief operating officer at Federal Express.@@@@1@27@@oe@2-2-2013
20562023@unknown@formal@none@1@S@"The vans leave at least 15 minutes earlier, on average, than they used to.@@@@1@14@@oe@2-2-2013
20562024@unknown@formal@none@1@S@And service levels have increased to the point where they're consistently above 99%."@@@@1@13@@oe@2-2-2013
20562025@unknown@formal@none@1@S@A cross-functional team at Union Carbide's Tonawanda, N.Y., facility, which produces air-separation plants, followed a similar path to reduce manufacturing cycle time.@@@@1@22@@oe@2-2-2013
20562026@unknown@formal@none@1@S@"The team included craftsmen from the shop floor as well as engineering, scheduling and purchasing personnel," reports Alan Westendorf, director of quality.@@@@1@22@@oe@2-2-2013
20562027@unknown@formal@none@1@S@"First, they produced a flowchart detailing the process by which an air-separation plant actually gets built.@@@@1@16@@oe@2-2-2013
20562028@unknown@formal@none@1@S@Then they identified snags in the process."@@@@1@7@@oe@2-2-2013
20562029@unknown@formal@none@1@S@The Tonawanda team determined that holdups for inspections were the main problem and identified which kinds of delays involved critical inspections and which were less critical or could be handled by workers already on the line.@@@@1@36@@oe@2-2-2013
20562030@unknown@formal@none@1@S@The team then proposed modifications in their work process to management.@@@@1@11@@oe@2-2-2013
20562031@unknown@formal@none@1@S@"The streamlined manufacturing process benefits our customers in at least two ways," Mr. Westendorf concludes.@@@@1@15@@oe@2-2-2013
20562032@unknown@formal@none@1@S@"First, we have better quality assurance than ever, because the people building the product have taken on more responsibility for the quality of their own work.@@@@1@26@@oe@2-2-2013
20562033@unknown@formal@none@1@S@Second, we trimmed more than a month off the time required to deliver a finished product."@@@@1@16@@oe@2-2-2013
20562034@unknown@formal@none@1@S@At Grumman's Aircraft Systems Division, a cross-functional team reduced the cycle time required to produce a new business proposal for an important government contract.@@@@1@24@@oe@2-2-2013
20562035@unknown@formal@none@1@S@The team was composed of representatives from engineering, manufacturing, corporate estimating, flight test, material, quality control, and other departments.@@@@1@19@@oe@2-2-2013
20562036@unknown@formal@none@1@S@"We needed contributions from all these departments to generate the proposal," says Carl Anton, configuration-data manager for Grumman's A-6 combat aircraft program.@@@@1@22@@oe@2-2-2013
20562037@unknown@formal@none@1@S@"But instead of gathering their input piecemeal, we formed the team, which reached consensus on the proposal objectives and produced a statement of work to guide all the functions that were involved."@@@@1@32@@oe@2-2-2013
20562038@unknown@formal@none@1@S@Armed with this shared understanding and requisite background information, each department developed its specialized contribution to the proposal, submitting data and cost estimates on a closely managed schedule.@@@@1@28@@oe@2-2-2013
20562039@unknown@formal@none@1@S@"We cleared up questions and inconsistencies very quickly, because the people who had the skills and perspective required to resolve them were part of the task team," Mr. Anton explains.@@@@1@30@@oe@2-2-2013
20562040@unknown@formal@none@1@S@The team trimmed more than two months from the cycle time previously required to develop comparable proposals.@@@@1@17@@oe@2-2-2013
20562041@unknown@formal@none@1@S@"The team eliminated the crisis mentality that proposal deadlines can generate.@@@@1@11@@oe@2-2-2013
20562042@unknown@formal@none@1@S@The result was a more thoughtful, complete and competitive proposal," Mr. Anton concludes.@@@@1@13@@oe@2-2-2013
20562043@unknown@formal@none@1@S@The successes achieved at Federal Express, Union Carbide and Grumman suggest that managing speed may be an underutilized source of competitive advantage.@@@@1@22@@oe@2-2-2013
20562044@unknown@formal@none@1@S@Managers in all three companies recognize speed as a component of quality and a key to customer satisfaction.@@@@1@18@@oe@2-2-2013
20562045@unknown@formal@none@1@S@They effectively lead team efforts to reduce cycle time.@@@@1@9@@oe@2-2-2013
20562046@unknown@formal@none@1@S@And they prepare all their people to increase the speed and improve the quality of their own work.@@@@1@18@@oe@2-2-2013
20562047@unknown@formal@none@1@S@Mr. Labovitz is president of ODI, a consulting firm in Burlington, Mass.@@@@1@12@@oe@2-2-2013
20563001@unknown@formal@none@1@S@Home taping of pre-recorded music cuts into record industry revenues, but banning home taping would hurt consumers even more.@@@@1@19@@oe@2-2-2013
20563002@unknown@formal@none@1@S@That's the conclusion of an independent report prepared by the Office of Technology Assessment at the request of the House and Senate judiciary committees.@@@@1@24@@oe@2-2-2013
20563003@unknown@formal@none@1@S@The report is to be released today.@@@@1@7@@oe@2-2-2013
20563004@unknown@formal@none@1@S@The report says the availability of such advanced analog recording equipment as cassette recorders doesn't seem to increase the quantity of home copying.@@@@1@23@@oe@2-2-2013
20563005@unknown@formal@none@1@S@That finding, the report says, casts doubt on the record industry's contention that the new generation of digital recording equipment will inevitably lead to wholesale abuse of copyrighted material by home tapers.@@@@1@32@@oe@2-2-2013
20563006@unknown@formal@none@1@S@The longstanding position of the Recording Industry Association of America, a trade group based in Washington, D.C., is that record companies, performers, songwriters and music publishers need to be remunerated by government-imposed fees on the sale of blank tapes and recording equipment to make up for royalties lost to home taping.@@@@1@51@@oe@2-2-2013
20563007@unknown@formal@none@1@S@"I think it is a nail in the coffin in any royalty tax proposal," says Gary Shapiro, vice president for government and legal affairs of the Electronic Industries Association in Washington.@@@@1@31@@oe@2-2-2013
20563008@unknown@formal@none@1@S@"What {the report} shows is everything we've been saying for the past eight or nine years -- that audio taping is the best thing to happen for the recording industry.@@@@1@30@@oe@2-2-2013
20563009@unknown@formal@none@1@S@The people who tape the most buy the most."@@@@1@9@@oe@2-2-2013
20563010@unknown@formal@none@1@S@Trish Heimers, a spokesperson for RIAA says her organization hasn't received a copy of the completed report yet and has no immediate comment.@@@@1@23@@oe@2-2-2013
20563011@unknown@formal@none@1@S@A recent agreement between the recording industry and electronics manufacturers requires that any digital audio tape, or DAT, recorder sold in the U.S. have a built-in device that restricts its ability to make second copies from DAT tape copies of digital compact disks.@@@@1@43@@oe@2-2-2013
20563012@unknown@formal@none@1@S@But the disappointing sales of DAT machines here and abroad so far have not seemed to warrant the three years of legal wrangling that went into the agreement.@@@@1@28@@oe@2-2-2013
20563013@unknown@formal@none@1@S@Under current copyright laws, it is considered "fair use" to reproduce copyrighted material for one's personal use or for use by one's family or friends, while copying for purposes of resale or profit is prohibited.@@@@1@35@@oe@2-2-2013
20563014@unknown@formal@none@1@S@A survey contained in the 291-page report, "Copyright and Home Copying: Technology Challenges the Law," found that most people consider home copying for such personal use a "right" -- a right, moreover, that was exercised by 40% of Americans over the age of 10 in the past year.@@@@1@48@@oe@2-2-2013
20563015@unknown@formal@none@1@S@The study says that the "ambiguous legal status" of home copying makes it "appropriate to examine the effects on consumers, as well as on industry."@@@@1@25@@oe@2-2-2013
20563016@unknown@formal@none@1@S@Reports by the Office of Technology Assessment don't prescribe any specific legislative action but suggest a range of options that Congress may pursue.@@@@1@23@@oe@2-2-2013
20563017@unknown@formal@none@1@S@The study also says that advent of new communications technologies makes "an explicit congressional definition of the legal status of home copying more desirable in order to reduce legal and market uncertainties and to prevent de facto changes to copyright law through technology," and says that finding an "appropriate balance of harms and benefits is a political decision, not a technical one.@@@@1@62@@oe@2-2-2013
20564001@unknown@formal@none@1@S@Switzerland's most famous raider says he isn't one.@@@@1@8@@oe@2-2-2013
20564002@unknown@formal@none@1@S@Werner K. Rey believes fortunes are made by being friendly.@@@@1@10@@oe@2-2-2013
20564003@unknown@formal@none@1@S@And in little more than a decade of being friendly -- and at the same time rocking the staid Swiss business community with some U.S.-style wheeling and dealing -- the 46-year-old Mr. Rey has grown from a modest banker to a billionaire.@@@@1@42@@oe@2-2-2013
20564004@unknown@formal@none@1@S@He achieved this in part with an uncanny talent for getting his foot peacefully in the door of established European companies.@@@@1@21@@oe@2-2-2013
20564005@unknown@formal@none@1@S@His latest coup: September's masterminding of the five billion Swiss-franc ($3.07 billion) merger between Adia S.A., the world's second-largest temporary employment agency, and Inspectorate International S.A., a Rey-controlled product-inspection company.@@@@1@30@@oe@2-2-2013
20564006@unknown@formal@none@1@S@Shareholders must approve the merger at general meetings of the two companies in late November.@@@@1@15@@oe@2-2-2013
20564007@unknown@formal@none@1@S@But approval is almost certain since Mr. Rey and a friendly Adia management are in control.@@@@1@16@@oe@2-2-2013
20564008@unknown@formal@none@1@S@After the transaction, Mr. Rey estimates the value of his 20% stake in the new company, to be held by his Omni Holding AG, will be about 1 billion Swiss francs.@@@@1@31@@oe@2-2-2013
20564009@unknown@formal@none@1@S@This will be his return on an original investment of between 50 million Swiss francs and 80 million Swiss francs.@@@@1@20@@oe@2-2-2013
20564010@unknown@formal@none@1@S@Mr. Rey bought a controlling stake in Inspectorate for 18 million Swiss francs in 1982, building up the little-known engineering company with European and U.S. acquisitions.@@@@1@26@@oe@2-2-2013
20564011@unknown@formal@none@1@S@"I like to succeed," says Mr. Rey during a recent morning of working at home, which he also likes.@@@@1@19@@oe@2-2-2013
20564012@unknown@formal@none@1@S@Home is an estate with green meadows opening onto Lake Geneva and a low-slung house whose rooms overlook the water and offer a view of the French Alps.@@@@1@28@@oe@2-2-2013
20564013@unknown@formal@none@1@S@In the corner of his reception room is a delicate antique desk piled high with dossiers.@@@@1@16@@oe@2-2-2013
20564014@unknown@formal@none@1@S@There is a small Renoir on the wall.@@@@1@8@@oe@2-2-2013
20564015@unknown@formal@none@1@S@Zurich-based magazine Bilanz lists Mr. Rey as having a fortune of about 1.5 billion Swiss francs.@@@@1@16@@oe@2-2-2013
20564016@unknown@formal@none@1@S@Writes Bilanz: "No one in Switzerland ever came so far so fast . . .@@@@1@15@@oe@2-2-2013
20564017@unknown@formal@none@1@S@He was simply the first in this country to realize that treasures were just lying around waiting to be picked up.@@@@1@21@@oe@2-2-2013
20564018@unknown@formal@none@1@S@In short: Rey found companies with weak earnings but rich assets."@@@@1@11@@oe@2-2-2013
20564019@unknown@formal@none@1@S@However, the Swiss financial press in general, as well as many analysts, have had a hard time making up their minds about Mr. Rey and his un-Swiss ways.@@@@1@28@@oe@2-2-2013
20564020@unknown@formal@none@1@S@For Switzerland's most prestigious newspaper, Neue Zuercher Zeitung, Mr. Rey seems destined to remain the "former Bally raider," an image that has proved hard to overcome.@@@@1@26@@oe@2-2-2013
20564021@unknown@formal@none@1@S@In 1976, as an upstart in the eyes of Switzerland's establishment, Mr. Rey laid the foundations of his present-day prominence with an unheard-of raid on Bally, the country's traditional shoemaker.@@@@1@30@@oe@2-2-2013
20564022@unknown@formal@none@1@S@Sitting beside a banker at a luncheon in London, where he was working as a financial consultant, he learned that a large packet of Bally's shares was up for sale.@@@@1@30@@oe@2-2-2013
20564023@unknown@formal@none@1@S@Looking into Bally, he could hardly believe what he saw: a company with enormous real-estate holdings in major European cities and a market capitalization of 28 million Swiss francs; it had 7,000 employees.@@@@1@33@@oe@2-2-2013
20564024@unknown@formal@none@1@S@Investing four million Swiss francs earned from his financial transactions and two million Swiss francs from his parents and his wife, Mr. Rey acquired 20% of Bally's shares.@@@@1@28@@oe@2-2-2013
20564025@unknown@formal@none@1@S@But such tactics were alien to Switzerland in 1976, and still aren't common because of share restrictions that companies are allowed to maintain.@@@@1@23@@oe@2-2-2013
20564026@unknown@formal@none@1@S@Eventually, Mr. Rey was forced to sell his Bally shares to the weapons maker Oerlikon-Buehrle Holding AG as establishment pressure grew on this hostile move into the Swiss old boys' network.@@@@1@31@@oe@2-2-2013
20564027@unknown@formal@none@1@S@Mr. Rey made 50 million Swiss francs on the sale.@@@@1@10@@oe@2-2-2013
20564028@unknown@formal@none@1@S@"Bally was not an unfriendly takeover," he insists.@@@@1@8@@oe@2-2-2013
20564029@unknown@formal@none@1@S@Buying from willing shareholders makes an unfriendly takeover impossible, Mr. Rey contends.@@@@1@12@@oe@2-2-2013
20564030@unknown@formal@none@1@S@"I bought from willing shareholders."@@@@1@5@@oe@2-2-2013
20564031@unknown@formal@none@1@S@Nevertheless, Mr. Rey has been very careful since then to make sure his moves are welcome.@@@@1@16@@oe@2-2-2013
20564032@unknown@formal@none@1@S@And he has worked to shed his raider image.@@@@1@9@@oe@2-2-2013
20564033@unknown@formal@none@1@S@In 1979, his career as an industrialist began with the acquisition of the Swiss metals works Selve, based in Thun.@@@@1@20@@oe@2-2-2013
20564034@unknown@formal@none@1@S@With the nonferrous metals business undermined in Switzerland by tough foreign competition and high domestic costs, this looked like a dull undertaking.@@@@1@22@@oe@2-2-2013
20564035@unknown@formal@none@1@S@But Mr. Rey brought about a merger in the next few years between the country's major producers; the increased efficiency has perked up the industry.@@@@1@25@@oe@2-2-2013
20564036@unknown@formal@none@1@S@Three years later, machinery producer Ateliers de Constructions Mecaniques de Vevey S.A. was to become part of the Rey empire.@@@@1@20@@oe@2-2-2013
20564037@unknown@formal@none@1@S@Once again the company's future looked less than rosy.@@@@1@9@@oe@2-2-2013
20564038@unknown@formal@none@1@S@But after restructuring under new management, the profits began rolling in.@@@@1@11@@oe@2-2-2013
20564039@unknown@formal@none@1@S@A major boost to Mr. Rey's respectability among the Swiss came in 1986 when he sold 60% of his Phibro Bank to the conservative Swiss cantonal banks.@@@@1@27@@oe@2-2-2013
20564040@unknown@formal@none@1@S@They renamed it Swiss Cantobank and are using it to expand abroad.@@@@1@12@@oe@2-2-2013
20564041@unknown@formal@none@1@S@In 1987, Mr. Rey bested leading publishing houses to take over Switzerland's Jean Frey AG, a major producer of magazines and newspapers.@@@@1@22@@oe@2-2-2013
20564042@unknown@formal@none@1@S@And with the recent acquisition of 30% of Winterthur-based machinery manufacturer Gebrueder Sulzer AG, Mr. Rey has enjoyed the status of white knight.@@@@1@23@@oe@2-2-2013
20564043@unknown@formal@none@1@S@Sulzer preferred him to financier Tito Tettamanti, whose secretive raid on the company's stock had led to a bitter battle.@@@@1@20@@oe@2-2-2013
20564044@unknown@formal@none@1@S@Meanwhile, as such strategic investments have mounted, the merchant-banking arm of Mr. Rey's Omni Holding has been busily buying and selling dozens of companies, often after a financial or corporate restructuring.@@@@1@31@@oe@2-2-2013
20564045@unknown@formal@none@1@S@Today, this branch of Mr. Rey's empire runs under the name Omnicorp Offering Services and handles mergers and acquisitions, placement of securities and real estate.@@@@1@25@@oe@2-2-2013
20564046@unknown@formal@none@1@S@In its portfolio are such diverse companies as United Kingdom-based Air Europe; Checkrobot Inc., a U.S. company that makes supermarket checkout machines; Norment Industries, a U.S. manufacturer of securities systems; Com Systems Inc., a U.S. regional telephone company; and major real-estate projects in the U.S. and Europe.@@@@1@47@@oe@2-2-2013
20564047@unknown@formal@none@1@S@For financial analysts, reading Omni's accounts is a tough challenge.@@@@1@10@@oe@2-2-2013
20564048@unknown@formal@none@1@S@"Companies move in and out," says Helga Kern of KK Swiss Investment.@@@@1@12@@oe@2-2-2013
20564049@unknown@formal@none@1@S@Financial analysts note that Mr. Rey is attracted to companies that are undervalued on the basis of their real-estate interests.@@@@1@20@@oe@2-2-2013
20564050@unknown@formal@none@1@S@In August, Omni unexpectedly bought Inspectorate's 80% stake in Harpener AG of West Germany, a land-rich company.@@@@1@17@@oe@2-2-2013
20564051@unknown@formal@none@1@S@The internal transaction within the Rey empire puzzled Harpener's small shareholders, but analysts say it makes sense for Inspectorate-Adia to focus on its main businesses of product inspection and temporary help.@@@@1@31@@oe@2-2-2013
20564052@unknown@formal@none@1@S@Mr. Rey says the move is yet another example of his conservatism.@@@@1@12@@oe@2-2-2013
20564053@unknown@formal@none@1@S@He explains that companies with real estate give "security."@@@@1@9@@oe@2-2-2013
20564054@unknown@formal@none@1@S@The real estate can be used, he points out, as guarantees for bank loans for corporate development.@@@@1@17@@oe@2-2-2013
20564055@unknown@formal@none@1@S@He says he wants to "influence" but not "manage" companies.@@@@1@10@@oe@2-2-2013
20564056@unknown@formal@none@1@S@"I don't want to be like {financier Alan} Bond and the other Australians.@@@@1@13@@oe@2-2-2013
20564057@unknown@formal@none@1@S@I don't want companies to be built around me as a person.@@@@1@12@@oe@2-2-2013
20564058@unknown@formal@none@1@S@I want them to stand alone.@@@@1@6@@oe@2-2-2013
20565001@unknown@formal@none@1@S@Ultimate Corp. signed a letter of intent to market Hewlett-Packard Co. minicomputers, the companies said.@@@@1@15@@oe@2-2-2013
20565002@unknown@formal@none@1@S@Ultimate expects the 3 1/2-year agreement to generate $100 million in sales, but it wouldn't estimate profit.@@@@1@17@@oe@2-2-2013
20565003@unknown@formal@none@1@S@Under terms of the pact, Ultimate, a computer-systems concern, will market the full line of HP 9000 series 800 multipleuser minicomputers.@@@@1@21@@oe@2-2-2013
20565004@unknown@formal@none@1@S@Hewlett-Packard is based in Palo Alto, Calif.@@@@1@7@@oe@2-2-2013
20566001@unknown@formal@none@1@S@In the second step of a reorganization that began earlier this year, Boeing Co. said it will create a Defense and Space Group to consolidate several divisions.@@@@1@27@@oe@2-2-2013
20566002@unknown@formal@none@1@S@Meanwhile, Boeing officials and representatives of the Machinists union met separately last night with a federal mediator in an attempt to break the month-old strike that has shut the aerospace giant's assembly lines at a time when it has an $80 billion backlog of jetliner orders.@@@@1@46@@oe@2-2-2013
20566003@unknown@formal@none@1@S@The two sides were scheduled to meet with the mediator this morning.@@@@1@12@@oe@2-2-2013
20566004@unknown@formal@none@1@S@Machinists already have rejected a package that would provide a 10% pay raise plus bonuses over the three-year life of the contract.@@@@1@22@@oe@2-2-2013
20566005@unknown@formal@none@1@S@Boeing has said repeatedly it won't expand its offer and the machinists have responded that the offer isn't good enough.@@@@1@20@@oe@2-2-2013
20566006@unknown@formal@none@1@S@However, the resolve of some of the striking 57,000 machinists might be weakening.@@@@1@13@@oe@2-2-2013
20566007@unknown@formal@none@1@S@About 1,000 strikers signed petitions last week calling for Boeing and Machinists representatives to schedule new meetings.@@@@1@17@@oe@2-2-2013
20566008@unknown@formal@none@1@S@The two sides hadn't met since Oct. 18.@@@@1@8@@oe@2-2-2013
20566009@unknown@formal@none@1@S@While Boeing's commercial business is booming, its military business is feeling the effects of a declining defense budget after a strong buildup during the Reagan presidency.@@@@1@26@@oe@2-2-2013
20566010@unknown@formal@none@1@S@In May, the company consolidated its Aerospace and Electronics groups; the new Defense and Space Group will contain the Aerospace and Electronics division and Advanced Systems, both based in the Seattle area; Boeing Helicopters in Philadelphia; Boeing Military Airplanes in Wichita, Kan., and ArgoSystems in Sunnyvale, Calif.@@@@1@47@@oe@2-2-2013
20566011@unknown@formal@none@1@S@B. Dan Pinick, president of Boeing Aerospace and Electronics, will become president of the new group, which will become operational Jan. 2.@@@@1@22@@oe@2-2-2013
20566012@unknown@formal@none@1@S@In addition, Boeing said it also will reorganize all its work in Wichita into military and commercial divisions.@@@@1@18@@oe@2-2-2013
20566013@unknown@formal@none@1@S@All of the changes will reduce its overhead and streamline operations, Boeing said.@@@@1@13@@oe@2-2-2013
20566014@unknown@formal@none@1@S@Analysts agreed.@@@@1@2@@oe@2-2-2013
20566015@unknown@formal@none@1@S@"It's a further step to better returns in the hemorrhaging defense business," said Steven Binder, an analyst with Bear, Stearns & Co. in New York.@@@@1@25@@oe@2-2-2013
20566016@unknown@formal@none@1@S@"They had to do it."@@@@1@5@@oe@2-2-2013
20566017@unknown@formal@none@1@S@Howard Rubel, an analyst with C.J. Lawrence, Morgan Grenfell Inc. in New York, said the shift reflects Boeing confidence in Mr. Pinick, described by Mr. Rubel as an expert on doing business with the military.@@@@1@35@@oe@2-2-2013
20566018@unknown@formal@none@1@S@"His side of the business has been successful in a tough environment," Mr. Rubel said.@@@@1@15@@oe@2-2-2013
20567001@unknown@formal@none@1@S@A two-day meeting of representatives of Cocom, the 17-nation group that oversees exports of sensitive goods to communist countries, didn't take any substantive decisions on trimming the list of items under controls.@@@@1@32@@oe@2-2-2013
20567002@unknown@formal@none@1@S@Nor did it ease restrictions on exports to Poland and Hungary, according to U.S. officials who attended the talks.@@@@1@19@@oe@2-2-2013
20567003@unknown@formal@none@1@S@The U.S. had been under pressure from several Cocom members, especially France, West Germany and Italy, to ease restrictions on some types of machine tools, which those countries argued were now widely available to East Bloc countries from non-Cocom members.@@@@1@40@@oe@2-2-2013
20567004@unknown@formal@none@1@S@For several years some European countries have complained that outdated Cocom lists and restrictions served more to hamper their trade than to add to Western security.@@@@1@26@@oe@2-2-2013
20567005@unknown@formal@none@1@S@Some countries also have been pressing for special treatment for Hungary and Poland as they move toward more democratic rule, just as special treatment had been agreed on for China.@@@@1@30@@oe@2-2-2013
20567006@unknown@formal@none@1@S@But U.S. officials said representatives at the meeting decided that this was "a matter for further discussion at future meetings."@@@@1@20@@oe@2-2-2013
20567007@unknown@formal@none@1@S@They added that "all of us (Cocom members) look at the changes in Hungary and Poland in a positive way, but a question of this scope deserves further discussion and study."@@@@1@31@@oe@2-2-2013
20567008@unknown@formal@none@1@S@The officials also said the meeting agreed to continue treating China as a special case, despite the recent repression of dissent there, but to offer no further concessions.@@@@1@28@@oe@2-2-2013
20567009@unknown@formal@none@1@S@The U.S. officials said that despite the rapid changes under way in Eastern Europe and the Soviet Union, all the Cocom members agreed on "the continuing need for this organization," which was founded 40 years ago at the start of the Cold War.@@@@1@43@@oe@2-2-2013
20567010@unknown@formal@none@1@S@The officials said the meeting agreed to continue working toward "streamlining" Cocom's restricted products list, and to improve procedures for punishing companies that don't comply with the export restrictions.@@@@1@29@@oe@2-2-2013
20567011@unknown@formal@none@1@S@The officials said this meeting "put in motion" procedural steps that would speed up both of these functions, but that no specific decisions were taken on either matter.@@@@1@28@@oe@2-2-2013
20568001@unknown@formal@none@1@S@Unisys Corp.'s announcement Friday of a $648.2 million loss for the third quarter showed that the company is moving even faster than expected to take write-offs on its various problems and prepare for a turnaround next year.@@@@1@37@@oe@2-2-2013
20568002@unknown@formal@none@1@S@At the same time, the sheer size of the loss, coupled with a slowing of orders, made some securities analysts wonder just how strong that turnaround will be at the computer maker and defense-electronics concern.@@@@1@35@@oe@2-2-2013
20568003@unknown@formal@none@1@S@"Unisys is getting clobbered.@@@@1@4@@oe@2-2-2013
20568004@unknown@formal@none@1@S@Just clobbered," said Ulric Weil, an analyst at Weil & Associates who had once been high on the company.@@@@1@19@@oe@2-2-2013
20568005@unknown@formal@none@1@S@"The quarter was terrible, and the future looks anything but encouraging."@@@@1@11@@oe@2-2-2013
20568006@unknown@formal@none@1@S@Unisys, whose revenue inched up 3.7% in the quarter to $2.35 billion from $2.27 billion in the year-earlier quarter, had an operating loss of about $30 million.@@@@1@27@@oe@2-2-2013
20568007@unknown@formal@none@1@S@On top of that, the Blue Bell, Pa., concern took a $230 million charge related to the layoffs of 8,000 employees.@@@@1@21@@oe@2-2-2013
20568008@unknown@formal@none@1@S@That is at the high end of the range of 7,000 to 8,000 employees that Unisys said a month ago would be laid off.@@@@1@24@@oe@2-2-2013
20568009@unknown@formal@none@1@S@Unisys said that should help it save $500 million a year in costs, again at the high end of the previously reported range of $400 million to $500 million.@@@@1@29@@oe@2-2-2013
20568010@unknown@formal@none@1@S@The company also took a write-off of $150 million to cover losses on some fixed-price defense contracts, as some new managers took a hard look at the prospects for that slow-growing business.@@@@1@32@@oe@2-2-2013
20568011@unknown@formal@none@1@S@In addition, Unisys set up an unspecified reserve -- apparently $60 million to $70 million -- to cover the minimum amount it will have to pay the government because of its involvement in the defense-procurement scandal.@@@@1@36@@oe@2-2-2013
20568012@unknown@formal@none@1@S@Unisys also noted that it paid $78.8 million in taxes during the quarter, even though tax payments normally would be minimal in a quarter that produced such a big loss.@@@@1@30@@oe@2-2-2013
20568013@unknown@formal@none@1@S@The tax payments will leave Unisys with $225 million in loss carry-forwards that will cut tax payments in future quarters.@@@@1@20@@oe@2-2-2013
20568014@unknown@formal@none@1@S@In addition, Unisys said it reduced computer inventories a further $100 million during the quarter, leaving it within $100 million of its goal of a reduction of $500 million by the end of the year.@@@@1@35@@oe@2-2-2013
20568015@unknown@formal@none@1@S@Still, Unisys said its European business was weak during the quarter, a worrisome sign given that the company has relied on solid results overseas to overcome weakness in the U.S. over the past several quarters.@@@@1@35@@oe@2-2-2013
20568016@unknown@formal@none@1@S@The company also reported slower growth in another important business: systems that use the Unix operating system.@@@@1@17@@oe@2-2-2013
20568017@unknown@formal@none@1@S@That would be a huge problem if it were to continue, because Unisys is betting its business on the assumption that customers want to move away from using operating systems that run on only one manufacturer's equipment and toward systems -- mainly Unix -- that work on almost anyone's machines.@@@@1@50@@oe@2-2-2013
20568018@unknown@formal@none@1@S@In addition, Unisys must deal with its increasingly oppressive debt load.@@@@1@11@@oe@2-2-2013
20568019@unknown@formal@none@1@S@Debt has risen to around $4 billion, or about 50% of total capitalization.@@@@1@13@@oe@2-2-2013
20568020@unknown@formal@none@1@S@That means Unisys must pay about $100 million in interest every quarter, on top of $27 million in dividends on preferred stock.@@@@1@22@@oe@2-2-2013
20568021@unknown@formal@none@1@S@Jim Unruh, Unisys's president, said he is approaching next year with caution.@@@@1@12@@oe@2-2-2013
20568022@unknown@formal@none@1@S@He said the strength of the world-wide economy is suspect, and doesn't see much revenue growth in the cards.@@@@1@19@@oe@2-2-2013
20568023@unknown@formal@none@1@S@He also said that the price wars flaring up in parts of the computer industry will continue through next year.@@@@1@20@@oe@2-2-2013
20568024@unknown@formal@none@1@S@He said the move toward standard operating systems means customers aren't locked into buying from their traditional computer supplier and can force prices down.@@@@1@24@@oe@2-2-2013
20568025@unknown@formal@none@1@S@That, he said, is why Unisys is overhauling its whole business: It needs to prepare for a world in which profit margins will be lower than computer companies have been used to.@@@@1@32@@oe@2-2-2013
20568026@unknown@formal@none@1@S@"We've approached this not as a response to a temporary condition in the industry but as a fundamental change the industry is going through," Mr. Unruh said.@@@@1@27@@oe@2-2-2013
20568027@unknown@formal@none@1@S@"The information-systems industry is still going to be a high-growth business, and we're confident that we have tremendous assets as a company.@@@@1@22@@oe@2-2-2013
20568028@unknown@formal@none@1@S@But we don't minimize the challenges of the near term."@@@@1@10@@oe@2-2-2013
20568029@unknown@formal@none@1@S@Securities analysts were even more cautious, having been burned repeatedly on Unisys this year.@@@@1@14@@oe@2-2-2013
20568030@unknown@formal@none@1@S@Some had predicted earnings of more than $4 a share for this year, up from last year's fully diluted $3.27 a share on earnings of $680.6 million.@@@@1@27@@oe@2-2-2013
20568031@unknown@formal@none@1@S@But the company said Friday that it had losses of $673.3 million through the first nine months, compared with earnings a year earlier of $382.2 million, or $2.22 a share fully diluted, as revenue inched up 1.4% to $7.13 billion from $7.03 billion.@@@@1@43@@oe@2-2-2013
20568032@unknown@formal@none@1@S@And Unisys is expected to do little better than break even in the fourth quarter.@@@@1@15@@oe@2-2-2013
20568033@unknown@formal@none@1@S@So Steve Milunovich at First Boston said he is cutting his earnings estimate for next year to $2 a share from $3.@@@@1@22@@oe@2-2-2013
20568034@unknown@formal@none@1@S@"I was feeling like I was too high to begin with," he said.@@@@1@13@@oe@2-2-2013
20568035@unknown@formal@none@1@S@Mr. Weil of Weil & Associates said he will remain at $1 a share for next year but said he wonders whether even that low target is at risk.@@@@1@29@@oe@2-2-2013
20568036@unknown@formal@none@1@S@"The break-even point for next year is much lower, but is it low enough?" he asked.@@@@1@16@@oe@2-2-2013
20568037@unknown@formal@none@1@S@Reflecting the concern, Unisys stock fell a further 75 cents to $16.25 in composite trading Friday on the New York Stock Exchange.@@@@1@22@@oe@2-2-2013
20569001@unknown@formal@none@1@S@If a TV weatherman gets butterflies facing the camera again after a questionable forecast, Donald H. Straszheim surely understands.@@@@1@19@@oe@2-2-2013
20569002@unknown@formal@none@1@S@The chief economist of Merrill Lynch & Co. finds himself in such a position as he buzzes the Midwest on his first road trip since backpedaling on a major prediction.@@@@1@30@@oe@2-2-2013
20569003@unknown@formal@none@1@S@Mr. Straszheim expects he will take some heat, and he's right.@@@@1@11@@oe@2-2-2013
20569004@unknown@formal@none@1@S@Since the last time he traveled this way several months ago, he has recanted a series of bold forecasts of a recession.@@@@1@22@@oe@2-2-2013
20569005@unknown@formal@none@1@S@In February 1988, for example, Merrill Lynch's weekly commentary announced that "the economy is likely to fall into recession in early 1989."@@@@1@22@@oe@2-2-2013
20569006@unknown@formal@none@1@S@The forecasts were widely disseminated, and, in a splashy ad campaign launched in the summer of 1988, Merrill Lynch urged investors to buy bonds.@@@@1@24@@oe@2-2-2013
20569007@unknown@formal@none@1@S@It said long-term interest rates, then above 9%, could drop to 7% by the end of 1989, so bonds, which benefit from falling rates, would be a good buy.@@@@1@29@@oe@2-2-2013
20569008@unknown@formal@none@1@S@The firm also raised the percentage of bonds in its model portfolio from 40% to 45% and later to 55%.@@@@1@20@@oe@2-2-2013
20569009@unknown@formal@none@1@S@But this September -- just when many market economists, including some at Merrill Lynch, believed that Mr. Straszheim was about to be proved right -- he took a detour if not a U-turn.@@@@1@33@@oe@2-2-2013
20569010@unknown@formal@none@1@S@He softened the talk about a recession.@@@@1@7@@oe@2-2-2013
20569011@unknown@formal@none@1@S@Now, in fact, he is predicting economic growth of 2.9% this year and 2.1% next year, a more optimistic outlook than the consensus of some four dozen top forecasters surveyed by Blue Chip Economic Indicators newsletter.@@@@1@36@@oe@2-2-2013
20569012@unknown@formal@none@1@S@And, just recently, Merrill Lynch cut the recommended bondholdings back to 50%.@@@@1@12@@oe@2-2-2013
20569013@unknown@formal@none@1@S@While such changes might sound minor, they aren't: Merrill Lynch manages or oversees some $300 billion in retail accounts that include everything from mutual funds to individual annuities.@@@@1@28@@oe@2-2-2013
20569014@unknown@formal@none@1@S@Two well-known colleagues who believe Mr. Straszheim was right the first time are David Bostian Jr. and A. Gary Shilling, both of whom run their own New York research firms.@@@@1@30@@oe@2-2-2013
20569015@unknown@formal@none@1@S@Mr. Bostian said in August that his macroeconomic index signaled recession.@@@@1@11@@oe@2-2-2013
20569016@unknown@formal@none@1@S@Mr. Shilling, who was Merrill Lynch's chief economist from 1967 to 1971, has heralded a recession for months.@@@@1@18@@oe@2-2-2013
20569017@unknown@formal@none@1@S@"My own personal opinion is that Don threw in the towel just about the time he should have doubled his bet," he says.@@@@1@23@@oe@2-2-2013
20569018@unknown@formal@none@1@S@Now a rocky stock market and weak corporate profits may further threaten the economy.@@@@1@14@@oe@2-2-2013
20569019@unknown@formal@none@1@S@And Mr. Straszheim conceded after a recent drop in manufacturing jobs that "it may prove to be the case that we got whipsawed -- that we pulled the recession forecast at just the wrong time."@@@@1@35@@oe@2-2-2013
20569020@unknown@formal@none@1@S@He adds, "That's the forecasting business."@@@@1@6@@oe@2-2-2013
20569021@unknown@formal@none@1@S@However risky the business, it's brisk these days.@@@@1@8@@oe@2-2-2013
20569022@unknown@formal@none@1@S@Pestered by bosses, brokers, clients and media people and pushed by their own egos, Wall Street economists are forecasting about everything from broad economic trends to the dinkiest monthly indicator.@@@@1@30@@oe@2-2-2013
20569023@unknown@formal@none@1@S@But the surprisingly durable seven-year economic expansion has made mincemeat of more than one forecast.@@@@1@15@@oe@2-2-2013
20569024@unknown@formal@none@1@S@This isn't the quiet economic science practiced in the universities.@@@@1@10@@oe@2-2-2013
20569025@unknown@formal@none@1@S@This is the commercial version.@@@@1@5@@oe@2-2-2013
20569026@unknown@formal@none@1@S@Carrying the new message on the road, Mr. Straszheim meets confrontation that often occurs in inverse proportion to the size of the client.@@@@1@23@@oe@2-2-2013
20569027@unknown@formal@none@1@S@No sophisticated professional expects economists to be right all the time.@@@@1@11@@oe@2-2-2013
20569028@unknown@formal@none@1@S@Some smaller clients don't seem to notice his switch.@@@@1@9@@oe@2-2-2013
20569029@unknown@formal@none@1@S@But with some clients, the talk can heat up a bit.@@@@1@11@@oe@2-2-2013
20569030@unknown@formal@none@1@S@Dennis O'Brien, the treasurer of Commonwealth Edison Co. in Chicago, adopts a polite approach, waiting for an opportunity to ask about the forecast.@@@@1@23@@oe@2-2-2013
20569031@unknown@formal@none@1@S@A good half-hour into breakfast at the Palmer House, Mr. O'Brien looks up from his plate after Mr. Straszheim says something about people who believe interest rates are about to nosedive.@@@@1@31@@oe@2-2-2013
20569032@unknown@formal@none@1@S@"I'm one of them who hope they will, with $6 billion in debt on the books.@@@@1@16@@oe@2-2-2013
20569033@unknown@formal@none@1@S@Is that the forecast?" Mr. O'Brien asks, trying to pin down the economist.@@@@1@13@@oe@2-2-2013
20569034@unknown@formal@none@1@S@He doesn't fully succeed, although Mr. Straszheim lists an array of interest-rate scenarios.@@@@1@13@@oe@2-2-2013
20569035@unknown@formal@none@1@S@In a chilly conference room at Alliance Capital Management in Minneapolis, in contrast, the firm's money managers seem ready to pin Mr. Straszheim to the wall.@@@@1@26@@oe@2-2-2013
20569036@unknown@formal@none@1@S@Alfred Harrison, the manager, shoves Mr. Straszheim's handout back at him: "Do we want to go through this?@@@@1@18@@oe@2-2-2013
20569037@unknown@formal@none@1@S@Or can we ask you why you changed your forecast just when it's about to be right?"@@@@1@17@@oe@2-2-2013
20569038@unknown@formal@none@1@S@Swiveling in his chair, Mr. Straszheim replies that the new outlook, though still weak, doesn't justify calling a recession right now. "@@@@1@22@@oe@2-2-2013
20569039@unknown@formal@none@1@S@It's all in this handout you don't want to look at.@@@@1@11@@oe@2-2-2013
20569040@unknown@formal@none@1@S@We could still have a recession" at some point.@@@@1@9@@oe@2-2-2013
20569041@unknown@formal@none@1@S@One of Mr. Straszheim's recurring themes is that the state of the economy isn't a simple black or white.@@@@1@19@@oe@2-2-2013
20569042@unknown@formal@none@1@S@Sometimes, like now, it's gray.@@@@1@5@@oe@2-2-2013
20569043@unknown@formal@none@1@S@This somewhat-ambiguous assessment moves one Alliance portfolio manager to ask: "So, what is this -- a Stealth recession?"@@@@1@18@@oe@2-2-2013
20569044@unknown@formal@none@1@S@Another challenges Merrill Lynch's bond recommendation last year.@@@@1@8@@oe@2-2-2013
20569045@unknown@formal@none@1@S@"We're not running that ad campaign any more," Mr. Straszheim snaps in a rare show of irritation.@@@@1@17@@oe@2-2-2013
20569046@unknown@formal@none@1@S@He adds, "I think it was a fairly decent call."@@@@1@10@@oe@2-2-2013
20569047@unknown@formal@none@1@S@Explaining his change of mind, Mr. Straszheim says later, "It's hard to pin this on one factor."@@@@1@17@@oe@2-2-2013
20569048@unknown@formal@none@1@S@He says the economy, and especially the employment numbers, look much better than he expected; interest rates have generally declined; inflation hasn't run amok.@@@@1@24@@oe@2-2-2013
20569049@unknown@formal@none@1@S@"Our business is constantly looking at all these things," he says.@@@@1@11@@oe@2-2-2013
20569050@unknown@formal@none@1@S@His new forecast calls for "a soft landing."@@@@1@8@@oe@2-2-2013
20569051@unknown@formal@none@1@S@And it may be right, judging from last week's report that inflation-adjusted gross national product rose at a 2.5% annual rate in the third quarter.@@@@1@25@@oe@2-2-2013
20569052@unknown@formal@none@1@S@Mr. Shilling understands Mr. Straszheim's problems.@@@@1@6@@oe@2-2-2013
20569053@unknown@formal@none@1@S@"There's unbelievable pressure on economists to forecast these numbers," he says. "@@@@1@12@@oe@2-2-2013
20569054@unknown@formal@none@1@S@You make a forecast, and then you become its prisoner."@@@@1@10@@oe@2-2-2013
20569055@unknown@formal@none@1@S@It is indeed hard to back away from a widely publicized forecast, and Mr. Straszheim is fidgeting with the handcuffs on this trip.@@@@1@23@@oe@2-2-2013
20569056@unknown@formal@none@1@S@His approach to the recantation is direct but low-key.@@@@1@9@@oe@2-2-2013
20569057@unknown@formal@none@1@S@"For some time, we had forecast negative third- and fourth-quarter growth.@@@@1@11@@oe@2-2-2013
20569058@unknown@formal@none@1@S@We pulled that forecast," he begins matter-of-factly in a meeting with Piper, Jaffray & Hopwood Inc. officials in Minneapolis, the first stop.@@@@1@22@@oe@2-2-2013
20570001@unknown@formal@none@1@S@Crane Co. said it holds an 8.9% stake in Milton Roy Corp., an analytical-instruments maker, and may seek control of the company.@@@@1@22@@oe@2-2-2013
20570002@unknown@formal@none@1@S@Crane, a maker of engineered products for aerospace, construction, defense and other uses, made the disclosure in a Securities and Exchange Commission filing.@@@@1@23@@oe@2-2-2013
20570003@unknown@formal@none@1@S@In the filing, Crane said that in the past it considered seeking control of Milton Roy, of St. Petersburg, Fla., through a merger or tender offer and that it expects to continue to evaluate an acquisition from time to time.@@@@1@40@@oe@2-2-2013
20570004@unknown@formal@none@1@S@Crane officials didn't return phone calls seeking comment.@@@@1@8@@oe@2-2-2013
20570005@unknown@formal@none@1@S@Crane holds 504,200 Milton Roy shares, including 254,200 bought from Sept. 14 to Thursday for $15.50 to $16.75 each.@@@@1@19@@oe@2-2-2013
20570006@unknown@formal@none@1@S@In New York Stock Exchange composite trading Friday, Milton Roy shares leaped $2, to $18.375 each, while Crane sank $1.125, to $21.125 a share.@@@@1@24@@oe@2-2-2013
20570007@unknown@formal@none@1@S@John M. McNamara, chief financial officer of Milton Roy, said the company has no comment on Crane's filing.@@@@1@18@@oe@2-2-2013
20570008@unknown@formal@none@1@S@Milton Roy recently fended off unsolicited overtures from Thermo Electron Corp., a Waltham, Mass., maker of biomedical products.@@@@1@18@@oe@2-2-2013
20570009@unknown@formal@none@1@S@Milton Roy disclosed in May that it was approached for a possible acquisition by Thermo Electron, which agreed to purchase Milton Roy's liquid-chromatography line for $22 million in February.@@@@1@29@@oe@2-2-2013
20570010@unknown@formal@none@1@S@Thermo Electron acquired some 6% of Milton Roy's common stock before throwing in the towel and reducing its stake in early September.@@@@1@22@@oe@2-2-2013
20570011@unknown@formal@none@1@S@Gabelli Group began raising its Milton Roy stake in July, and holds 14.6%, according to a recent SEC filing.@@@@1@19@@oe@2-2-2013
20570012@unknown@formal@none@1@S@It hasn't made merger overtures to the board.@@@@1@8@@oe@2-2-2013
20570013@unknown@formal@none@1@S@Earlier this month, Milton Roy signed a letter of intent to acquire Automated Custom Systems Inc., Orange, Calif., and its sister operation, Environmental Testing Co., in Aurora, Colo.@@@@1@28@@oe@2-2-2013
20570014@unknown@formal@none@1@S@The companies are automotive-emissions-testing concerns.@@@@1@5@@oe@2-2-2013
20570015@unknown@formal@none@1@S@Under the terms, Milton Roy will pay an initial $4 million for the operations and additional payments during the next four years based on the earnings performance of the businesses.@@@@1@30@@oe@2-2-2013
20570016@unknown@formal@none@1@S@In the nine months, Milton Roy earned $6.6 million, or $1.18 a share, on sales of $94.3 million.@@@@1@18@@oe@2-2-2013
20571001@unknown@formal@none@1@S@Last week the British displayed unusual political immaturity.@@@@1@8@@oe@2-2-2013
20571002@unknown@formal@none@1@S@The Chancellor of the Exchequer, Nigel Lawson, resigned because Prime Minister Thatcher would not fire her trusted adviser Sir Alan Walters.@@@@1@21@@oe@2-2-2013
20571003@unknown@formal@none@1@S@The opposition Labor Party leader, Neil Kinnock, in a display of the male chauvinism typical of the British lower class, denounced Mrs. Thatcher for having an independent mind and refusing to heed the men in her Cabinet.@@@@1@37@@oe@2-2-2013
20571004@unknown@formal@none@1@S@The British press, making a mountain out of a molehill, precipitated an unnecessary economic crisis by portraying Mrs. Thatcher as an autocrat who had thrown economic policy into confusion by driving a respected figure from her government.@@@@1@37@@oe@2-2-2013
20571005@unknown@formal@none@1@S@Behind the silly posturing lies a real dispute.@@@@1@8@@oe@2-2-2013
20571006@unknown@formal@none@1@S@Mr. Lawson and his European-minded colleagues want the British pound formally tied to the West German mark.@@@@1@17@@oe@2-2-2013
20571007@unknown@formal@none@1@S@Sir Alan considers this an ill-advised and costly policy.@@@@1@9@@oe@2-2-2013
20571008@unknown@formal@none@1@S@As there is an effort to "anchor the dollar" either to gold or other currencies, the dispute is worth examining.@@@@1@20@@oe@2-2-2013
20571009@unknown@formal@none@1@S@Until his resignation, Mr. Lawson had been conducting British monetary policy as if the pound were tied to the mark.@@@@1@20@@oe@2-2-2013
20571010@unknown@formal@none@1@S@When Mrs. Thatcher cut the top tax rate to 40%, Mr. Lawson flooded the country with money to prevent the pound from rising against the mark.@@@@1@26@@oe@2-2-2013
20571011@unknown@formal@none@1@S@As a result, he reignited the inflation that Mrs. Thatcher, through a long and costly effort, had subdued.@@@@1@18@@oe@2-2-2013
20571012@unknown@formal@none@1@S@With inflation surging, the pound began falling against the mark.@@@@1@10@@oe@2-2-2013
20571013@unknown@formal@none@1@S@To keep the exchange rate pegged, Mr. Lawson tightened monetary policy and pushed interest rates up to 15%.@@@@1@18@@oe@2-2-2013
20571014@unknown@formal@none@1@S@This doubled the mortgage interest rates of the many new homeowners that Mrs. Thatcher's policies had created, producing widespread disaffection and pushing Labor ahead in the polls.@@@@1@27@@oe@2-2-2013
20571015@unknown@formal@none@1@S@Instead of realizing his mistake in letting the exchange rate dominate both British economic policy and Mrs. Thatcher's political fortune, Mr. Lawson pushed for tying the pound formally to the mark by entering the European Monetary System, which subordinates all member currencies to German monetary policy.@@@@1@46@@oe@2-2-2013
20571016@unknown@formal@none@1@S@This put Mrs. Thatcher in a bind.@@@@1@7@@oe@2-2-2013
20571017@unknown@formal@none@1@S@The concept of European integration is one of those grand schemes that appeal to intellectuals, the media and the imagination, but are full of practical pitfalls.@@@@1@26@@oe@2-2-2013
20571018@unknown@formal@none@1@S@If the pound had been tied to the mark, the British would have been unable to cut their exorbitant tax rates.@@@@1@21@@oe@2-2-2013
20571019@unknown@formal@none@1@S@The reason is simple.@@@@1@4@@oe@2-2-2013
20571020@unknown@formal@none@1@S@When a country cuts tax rates, it makes itself more attractive to investors and drives up the value of its currency.@@@@1@21@@oe@2-2-2013
20571021@unknown@formal@none@1@S@It was fear of disturbing EMS exchange-rate relationships that caused the Chirac government in France to be timid about cutting tax rates.@@@@1@22@@oe@2-2-2013
20571022@unknown@formal@none@1@S@Edouard Balladur, the finance minister at the time, was sold on the tax-cut policy but was concerned that his government would be criticized as anti-European for disturbing the linked European currency relationship.@@@@1@32@@oe@2-2-2013
20571023@unknown@formal@none@1@S@The price of attracting capital -- whether one's own or that of foreigners -- is a trade deficit.@@@@1@18@@oe@2-2-2013
20571024@unknown@formal@none@1@S@To avoid this deficit Mr. Lawson inflated the pound in order to prevent its rise.@@@@1@15@@oe@2-2-2013
20571025@unknown@formal@none@1@S@This misguided policy could not prevent a British trade deficit.@@@@1@10@@oe@2-2-2013
20571026@unknown@formal@none@1@S@Consequently, Mr. Lawson saddled Mrs. Thatcher with a record trade deficit, renewed inflation and high interest rates -- three political failures in a row.@@@@1@24@@oe@2-2-2013
20571027@unknown@formal@none@1@S@Little wonder that Mrs. Thatcher's opponents were so anxious to keep Mr. Lawson in office.@@@@1@15@@oe@2-2-2013
20571028@unknown@formal@none@1@S@It is extraordinary that the British Treasury thought it could prevent a trade deficit by inflating the pound.@@@@1@18@@oe@2-2-2013
20571029@unknown@formal@none@1@S@The British balance-of-payments statistics show that after the top tax rate was cut to 40%, the flow abroad of British capital slowed, to 50 billion pounds ($79 billion at the current rate) in 1988 from 93 billion pounds in 1986.@@@@1@40@@oe@2-2-2013
20571030@unknown@formal@none@1@S@This change in the British capital account required an offsetting change in the trade account, a change that could not be prevented by pegging the currency.@@@@1@26@@oe@2-2-2013
20571031@unknown@formal@none@1@S@Nigel Lawson was a victim of the immense confusion in thought that has been characteristic of Western financial circles during the 1980s.@@@@1@22@@oe@2-2-2013
20571032@unknown@formal@none@1@S@The most important governments have ignored the role of low tax rates in attracting real capital investment, instead emphasizing financial flows in response to high interest rates.@@@@1@27@@oe@2-2-2013
20571033@unknown@formal@none@1@S@This has led them in a fruitless and destructive policy circle.@@@@1@11@@oe@2-2-2013
20571034@unknown@formal@none@1@S@First comes monetary expansion to drive down the currency's value that was pushed up by tax-rate reduction.@@@@1@17@@oe@2-2-2013
20571035@unknown@formal@none@1@S@Then, when the currency falls, interest rates are raised to attract financial flows in order to stabilize the exchange rate.@@@@1@20@@oe@2-2-2013
20571036@unknown@formal@none@1@S@This policy is totally mindless, and Sir Alan is correct to point out its deficiencies.@@@@1@15@@oe@2-2-2013
20571037@unknown@formal@none@1@S@Britain and all of Europe need to reconsider the prospects for European integration in light of the possible reunification and neutralization of Germany.@@@@1@23@@oe@2-2-2013
20571038@unknown@formal@none@1@S@A unified Germany that remained within the Western alliance would give Germany such an overshadowing position that all other members of a unified Europe would become vassals of the German state.@@@@1@31@@oe@2-2-2013
20571039@unknown@formal@none@1@S@Unless the Soviet Union collapses, German reunification is likely to require Germany's neutralization.@@@@1@13@@oe@2-2-2013
20571040@unknown@formal@none@1@S@The implications for Britain, France and the rest of Europe of having their currencies tied to the economic policy of a neutral country need considering before we judge Mr. Lawson's resignation to be unfortunate.@@@@1@34@@oe@2-2-2013
20571041@unknown@formal@none@1@S@In the least, we must recognize the futility of trying to use exchange-rate intervention to offset the effects of tax-rate reduction on capital flows.@@@@1@24@@oe@2-2-2013
20571042@unknown@formal@none@1@S@Mr. Roberts was assistant Treasury secretary under President Reagan.@@@@1@9@@oe@2-2-2013
20572001@unknown@formal@none@1@S@Joseph P. Jordan, 52 years old, becomes president, chief executive officer and a director of the bank company.@@@@1@18@@oe@2-2-2013
20572002@unknown@formal@none@1@S@Mr. Jordan, formerly president and chief executive of Fishkill National Bank in Beacon, N.Y., succeeds Donald Broderick, who died at 52 in an automobile accident.@@@@1@25@@oe@2-2-2013
20573001@unknown@formal@none@1@S@Personal spending, which fueled the economy's growth in the third quarter, was clearly slowing by the end of the period, raising questions about the economy's strength as the year ends.@@@@1@30@@oe@2-2-2013
20573002@unknown@formal@none@1@S@Personal spending grew 0.2% in September to a $3.526 trillion annual rate, the Commerce Department said.@@@@1@16@@oe@2-2-2013
20573003@unknown@formal@none@1@S@It was the smallest monthly increase in a year.@@@@1@9@@oe@2-2-2013
20573004@unknown@formal@none@1@S@At the same time, personal income was held down by the effects of Hurricane Hugo, which tore through parts of North and South Carolina in late September.@@@@1@27@@oe@2-2-2013
20573005@unknown@formal@none@1@S@The department said personal income rose 0.3% in September to a $4.469 trillion rate but would have climbed 0.6% had it not been for the storm.@@@@1@26@@oe@2-2-2013
20573006@unknown@formal@none@1@S@Among the economic effects of the hurricane was a sharp drop in rental income.@@@@1@14@@oe@2-2-2013
20573007@unknown@formal@none@1@S@The figures came a day after the government released a report showing that consumer spending propelled U.S. economic expansion in the third quarter while -- on an inflation-adjusted basis -- business investment slowed, government spending declined, and exports were flat.@@@@1@40@@oe@2-2-2013
20573008@unknown@formal@none@1@S@But the new statistics show that by September, the burst in spending seemed to be tapering off.@@@@1@17@@oe@2-2-2013
20573009@unknown@formal@none@1@S@Many economists expect the weakness to continue.@@@@1@7@@oe@2-2-2013
20573010@unknown@formal@none@1@S@"I think the consumer has pretty well played himself out," said David Littman, senior economist at Manufacturers National Bank of Detroit.@@@@1@21@@oe@2-2-2013
20573011@unknown@formal@none@1@S@"I don't think there's a lot in the wings" in other sectors of the economy to keep growth above 1%, he said.@@@@1@22@@oe@2-2-2013
20573012@unknown@formal@none@1@S@In the third quarter, the economy grew at a moderate 2.5% annual rate.@@@@1@13@@oe@2-2-2013
20573013@unknown@formal@none@1@S@In August, personal income rose 0.3% and spending grew 0.9%.@@@@1@10@@oe@2-2-2013
20573014@unknown@formal@none@1@S@Analysts have attributed much of the summer's spurt in spending to bargain car prices at the end of the model year.@@@@1@21@@oe@2-2-2013
20573015@unknown@formal@none@1@S@Car sales slackened in September after the 1990 models were introduced.@@@@1@11@@oe@2-2-2013
20573016@unknown@formal@none@1@S@According to the Commerce Department report, spending on durable goods -- items expected to last at least three years, including cars -- declined by $6.2 billion.@@@@1@26@@oe@2-2-2013
20573017@unknown@formal@none@1@S@The nation's savings rate was unchanged in September at 4.9% of after-tax income, far below the 5.6% it reached in July.@@@@1@21@@oe@2-2-2013
20573018@unknown@formal@none@1@S@All the figures are adjusted for seasonal variations.@@@@1@8@@oe@2-2-2013
20573019@unknown@formal@none@1@S@Here is the Commerce Department's latest report on personal income.@@@@1@10@@oe@2-2-2013
20573020@unknown@formal@none@1@S@The figures are at seasonally adjusted annual rates in trillions of dollars.@@@@1@12@@oe@2-2-2013
20574001@unknown@formal@none@1@S@CRA Ltd. said it agreed to sell a 40% stake in its Howick coal mine in the state of New South Wales to Mitsubishi Development Pty. of Japan.@@@@1@28@@oe@2-2-2013
20574002@unknown@formal@none@1@S@The price wasn't disclosed.@@@@1@4@@oe@2-2-2013
20574003@unknown@formal@none@1@S@The agreement is subject to government approval.@@@@1@7@@oe@2-2-2013
20574004@unknown@formal@none@1@S@RA acquired the Howick coal mine Oct. 20 when it bought British Petroleum Co.'s Australian coal interests for $275 million.@@@@1@20@@oe@2-2-2013
20574005@unknown@formal@none@1@S@CRA said then that it was looking for a partner for the mine, which produces more than three million metric tons of coal a year.@@@@1@25@@oe@2-2-2013
20574006@unknown@formal@none@1@S@CRA is 49%-owned by RTZ Corp. of Britain.@@@@1@8@@oe@2-2-2013
20575001@unknown@formal@none@1@S@Control Data Corp., which just months ago was hemorrhaging financially, thinks it will be healthy enough soon to consider repurchasing public debt.@@@@1@22@@oe@2-2-2013
20575002@unknown@formal@none@1@S@Moreover, the company, whose go-it-alone approach nearly proved fatal, now sees alliances with others as the way back to prosperity in what it calls "the data solutions" business.@@@@1@28@@oe@2-2-2013
20575003@unknown@formal@none@1@S@"I'm not saying everything is hunky-dory, but we have completed the transition," Robert M. Price, chairman and chief executive, said in an interview.@@@@1@23@@oe@2-2-2013
20575004@unknown@formal@none@1@S@"Transition" is a reference to the company's five-year restructuring effort.@@@@1@10@@oe@2-2-2013
20575005@unknown@formal@none@1@S@During that time, Control Data had losses of more than $1 billion.@@@@1@12@@oe@2-2-2013
20575006@unknown@formal@none@1@S@Now, following asset sales that shrank revenue by more than one-third this year alone, Control Data is flush with cash.@@@@1@20@@oe@2-2-2013
20575007@unknown@formal@none@1@S@So its senior executives are talking openly about possibly buying back some of the company's $172.5 million in subordinated convertible debentures next year.@@@@1@23@@oe@2-2-2013
20575008@unknown@formal@none@1@S@"We'd like to continue to reduce debt," President Lawrence Perlman said.@@@@1@11@@oe@2-2-2013
20575009@unknown@formal@none@1@S@Noting that the company is offering to buy back $154.2 million in senior notes paying 12 3/4%, he said the response will help determine future debt-reduction efforts.@@@@1@27@@oe@2-2-2013
20575010@unknown@formal@none@1@S@The offer was automatically triggered by the recent sale of Control Data's Imprimis disk-drive business to Seagate Technology Inc.@@@@1@19@@oe@2-2-2013
20575011@unknown@formal@none@1@S@Mr. Perlman, who is also acting chief financial officer and the odds-on favorite to become the next chief executive, said the company is achieving "modest positive cash flow from operations, and we expect that to continue into 1990."@@@@1@38@@oe@2-2-2013
20575012@unknown@formal@none@1@S@He said the company has no intention of tapping its short-term bank lines "for a good part of 1990."@@@@1@19@@oe@2-2-2013
20575013@unknown@formal@none@1@S@Sometime next year, Control Data will "develop a new bank relationship," Mr. Perlman said.@@@@1@14@@oe@2-2-2013
20575014@unknown@formal@none@1@S@In recent months a group of lenders, led by Bank of America, has extended Control Data up to $90 million in revolving loans through January, as well as $115 million in standby letters of credit.@@@@1@35@@oe@2-2-2013
20575015@unknown@formal@none@1@S@Loan covenants require that the company achieve specified levels of operating earnings and meet a rolling four-quarter profitability test.@@@@1@19@@oe@2-2-2013
20575016@unknown@formal@none@1@S@Last week Control Data reported third-quarter earnings of $9.8 million, or 23 cents a share, on revenue of $763 million.@@@@1@20@@oe@2-2-2013
20575017@unknown@formal@none@1@S@Through the first nine months, the company had a loss of $484 million, largely reflecting the closing of its supercomputer unit.@@@@1@21@@oe@2-2-2013
20575018@unknown@formal@none@1@S@While a few assets are still being shopped -- including the sports and entertainment ticketing portion of the company's Ticketron unit -- Mr. Price said future restructuring would be a question of strategy.@@@@1@33@@oe@2-2-2013
20575019@unknown@formal@none@1@S@"We don't need the cash."@@@@1@5@@oe@2-2-2013
20575020@unknown@formal@none@1@S@Ticketron's automated wagering business, which operates lotteries in a half dozen states, is not for sale, the company said.@@@@1@19@@oe@2-2-2013
20575021@unknown@formal@none@1@S@Rather, Mr. Perlman said, Control Data intends to bid for the coming Minnesota lottery contract and is seeking new applications for the technology overseas, where "there is great interest in games of skill."@@@@1@33@@oe@2-2-2013
20575022@unknown@formal@none@1@S@He wouldn't elaborate.@@@@1@3@@oe@2-2-2013
20575023@unknown@formal@none@1@S@Control Data's semiconductor business, VTC Inc., continues to lose money, the executives acknowledged, but they said they consider some of the technology vital to national defense and so are reluctant to dispose of it.@@@@1@34@@oe@2-2-2013
20575024@unknown@formal@none@1@S@The company's strategy for keeping its computer products business profitable -- it recently achieved profitability after several quarters of losses -- calls for a narrow focus and a lid on expenses.@@@@1@31@@oe@2-2-2013
20575025@unknown@formal@none@1@S@Partly, costs will be held down through strategic technology alliances, management said.@@@@1@12@@oe@2-2-2013
20575026@unknown@formal@none@1@S@Control Data recently announced an agreement with MIPS Computer Systems Inc. to jointly develop machines with simplified operating software.@@@@1@19@@oe@2-2-2013
20575027@unknown@formal@none@1@S@James E. Ousley, computer products group president, said such arrangements could help slash Control Data's computer research and development costs in half by the end of 1990.@@@@1@27@@oe@2-2-2013
20575028@unknown@formal@none@1@S@He disclosed that before Control Data scrapped its ETA Systems Inc. supercomputer business this past spring, those costs were running at nearly 35% of group revenue.@@@@1@26@@oe@2-2-2013
20575029@unknown@formal@none@1@S@At the same time four of six design projects were spiked, he said.@@@@1@13@@oe@2-2-2013
20575030@unknown@formal@none@1@S@Asked how the company hopes to expand its computer hardware business, Mr. Ousley said it sees good opportunities in systems integration.@@@@1@21@@oe@2-2-2013
20575031@unknown@formal@none@1@S@"We think we're getting only 10% of the integration dollars our customers are spending," he said.@@@@1@16@@oe@2-2-2013
20575032@unknown@formal@none@1@S@"We're in environments that are going to spend a lot of money on that."@@@@1@14@@oe@2-2-2013
20575033@unknown@formal@none@1@S@Control Data mainframes are designed for numerically intensive computing users, such as the scientific, engineering and academic communities.@@@@1@18@@oe@2-2-2013
20575034@unknown@formal@none@1@S@Utilities management is a major commercial niche.@@@@1@7@@oe@2-2-2013
20575035@unknown@formal@none@1@S@Reviewing the company's scrape with disaster, Mr. Price conceded it had tried to do too much on its own.@@@@1@19@@oe@2-2-2013
20575036@unknown@formal@none@1@S@"Absolutely," he said.@@@@1@3@@oe@2-2-2013
20575037@unknown@formal@none@1@S@But while its stock is selling at about half Control Data's estimated breakup value, neither Messrs. Perlman nor Price said he spends much time considering the possibility of a hostile takeover.@@@@1@31@@oe@2-2-2013
20575038@unknown@formal@none@1@S@"We've been listed as a candidate for so long it's not worth worrying about," said Mr. Price.@@@@1@17@@oe@2-2-2013
20576001@unknown@formal@none@1@S@Well, the arrogant East Coast media have spoken again ("Going for the Green," editorial, Oct. 17).@@@@1@16@@oe@2-2-2013
20576002@unknown@formal@none@1@S@Having resided in the great state of California for the past seven years, I find it hard to ignore our environmental problems when I start my commute to work with eyes tearing and head aching from the polluted air; when I try to enjoy the beaches and come home covered with tar and oil; when I hear of numerous deaths related to irresponsible processing of cheese and use of chemicals in fruit growing.@@@@1@73@@oe@2-2-2013
20576003@unknown@formal@none@1@S@Perhaps it's entertaining for those like you to discount the concerns of environmentalists, suggesting that their save-the-earth initiatives are "whacky" and referring to so many citizens as "la-la activists."@@@@1@29@@oe@2-2-2013
20576004@unknown@formal@none@1@S@Strange that we don't hear similar criticisms of the East Coast activists who seek to clean up Boston Harbor or rid their beaches of medical waste.@@@@1@26@@oe@2-2-2013
20576005@unknown@formal@none@1@S@While there are no easy low-cost solutions, simply ignoring our problems will result in their severity increasing and spreading throughout the state, the nation and the world.@@@@1@27@@oe@2-2-2013
20576006@unknown@formal@none@1@S@If nothing else, such initiatives as these will provide an awareness to citizens and lawmakers and encourage appropriate corrective action.@@@@1@20@@oe@2-2-2013
20576007@unknown@formal@none@1@S@Before your next California-bashing editorial, please spend more time out here witnessing the situation -- it just may change your view.@@@@1@21@@oe@2-2-2013
20576008@unknown@formal@none@1@S@John Barry Ventura, Calif.@@@@1@4@@oe@2-2-2013
20576009@unknown@formal@none@1@S@I realize you were just looking for something snotty to say about California and its environmental movement, but picking Frank Lloyd Wright to say it for you was a bad call.@@@@1@31@@oe@2-2-2013
20576010@unknown@formal@none@1@S@Wright's organic architecture demonstrated a keen sensitivity to the environment decades before it became fashionable among "la-la activists."@@@@1@18@@oe@2-2-2013
20576011@unknown@formal@none@1@S@Indeed, Wright said all his life that the greatest lessons he learned were derived from the study of nature.@@@@1@19@@oe@2-2-2013
20576012@unknown@formal@none@1@S@Obviously, it's lost on you that about 75% of the American people these days (and in fact the president of the United States) consider themselves environmentalists.@@@@1@26@@oe@2-2-2013
20576013@unknown@formal@none@1@S@As for California being a state run by liberal environmental loonies, let's not forget where Ronald Reagan came from.@@@@1@19@@oe@2-2-2013
20576014@unknown@formal@none@1@S@Perhaps Mr. Reagan, who claimed that air pollution is caused by trees, is the man you should be quoting to back up your position that economics is more important than the Earth.@@@@1@32@@oe@2-2-2013
20576015@unknown@formal@none@1@S@But it was Frank Lloyd Wright who said, "Is this not Anti-Christ?@@@@1@12@@oe@2-2-2013
20576016@unknown@formal@none@1@S@The Moloch that knows no God but more?"@@@@1@8@@oe@2-2-2013
20576017@unknown@formal@none@1@S@Robert Borden Santa Monica, Calif.@@@@1@5@@oe@2-2-2013
20576018@unknown@formal@none@1@S@Your editorial was commendable and neatly matched by the readers' comments in letters to the editor, "Alar: Scaring on the Side of Caution."@@@@1@23@@oe@2-2-2013
20576019@unknown@formal@none@1@S@The illogic and inaccuracy of John H. Adams's comments for the National Resources Defense Council fully justifies your characterization of California's Greens in particular as "la-la activists."@@@@1@27@@oe@2-2-2013
20576020@unknown@formal@none@1@S@We may all hope that California's voters will heed the scientific realities that their own university's renowned Prof. Tom Jukes provides them and ignore the charlatanry profferred by their "wealthy Hollywood weepers."@@@@1@32@@oe@2-2-2013
20576021@unknown@formal@none@1@S@I have a different approach to offer, not only to Californians, but to all Americans.@@@@1@15@@oe@2-2-2013
20576022@unknown@formal@none@1@S@In a free country, the law should restrict citizens as little as is consistent with good manners and public safety.@@@@1@20@@oe@2-2-2013
20576023@unknown@formal@none@1@S@Would-be naysayers should have the burden of proving reasonable necessity when they urge a prohibition for enactment into law.@@@@1@19@@oe@2-2-2013
20576024@unknown@formal@none@1@S@W. Brown Morton Jr. Warsaw, Va.@@@@1@6@@oe@2-2-2013
20576025@unknown@formal@none@1@S@The 170 airlines in the International Air Transport Association last year posted group net profit of $2.5 billion on revenue of $125.1 billion.@@@@1@23@@oe@2-2-2013
20576026@unknown@formal@none@1@S@According to the association's annual report, scheduled to be released today in Warsaw, IATA members haven't posted such a strong performance since the late 1970s.@@@@1@25@@oe@2-2-2013
20576027@unknown@formal@none@1@S@Revenue last year increased by more than 11% over 1988, and net income nearly tripled from restated year-earlier net of $900 million.@@@@1@22@@oe@2-2-2013
20576028@unknown@formal@none@1@S@The group attributed the strong results to the favorable economic climate, rising demand for air travel and improved average yield (revenue received per ton of traffic transported a kilometer).@@@@1@29@@oe@2-2-2013
20576029@unknown@formal@none@1@S@Systemwide, IATA airlines carried 632 million passengers last year, 2% more than in 1987.@@@@1@14@@oe@2-2-2013
20576030@unknown@formal@none@1@S@But passenger-kilometers, the distance flown while carrying people, increased 5.3% in 1988.@@@@1@12@@oe@2-2-2013
20576031@unknown@formal@none@1@S@The association said that lack of airport and air space capacity is the biggest problem facing the airline industry.@@@@1@19@@oe@2-2-2013
20576032@unknown@formal@none@1@S@The KGB has abolished a unit known for persecuting dissidents, the government newspaper Izvestia said.@@@@1@15@@oe@2-2-2013
20576033@unknown@formal@none@1@S@The newspaper quoted KGB chairman Vladimir A. Kryuchkov as saying the definition of anti-Soviet crimes had narrowed, the laws had changed and people no longer have to fear a simple slip of the tongue.@@@@1@34@@oe@2-2-2013
20576034@unknown@formal@none@1@S@Mr. Kryuchkov was quoted as saying that in place of the infamous 5th Directorate a new unit would work "to foil the conspiracies of foreign intelligence services to create and use organized anti-government groups in our country."@@@@1@37@@oe@2-2-2013
20576035@unknown@formal@none@1@S@Czechoslovakia has restricted consumer-goods exports to neighbor countries because of "massive buying out of food" by tourists from Poland, Hungary and the Soviet Union, the Rude Pravo daily said.@@@@1@29@@oe@2-2-2013
20576036@unknown@formal@none@1@S@Rising inflation in Poland and Hungary makes Czechoslovak food, clothing and shoes relatively cheap for visitors from these countries.@@@@1@19@@oe@2-2-2013
20576037@unknown@formal@none@1@S@The paper gave no details of what the restrictions would entail but said the measures were necessary to protect the domestic market.@@@@1@22@@oe@2-2-2013
20576038@unknown@formal@none@1@S@West Germany's biggest union, IG Metall, said it is ready to back demands for more pay and shorter hours with strikes against the nation's automotive, steel and engineering industries.@@@@1@29@@oe@2-2-2013
20576039@unknown@formal@none@1@S@Its chairman told the union to prepare for the worst in next year's confrontation with employers over a new three-year wage deal.@@@@1@22@@oe@2-2-2013
20576040@unknown@formal@none@1@S@A major goal is to cut the working week to 35 hours from the present 37.@@@@1@16@@oe@2-2-2013
20576041@unknown@formal@none@1@S@Last week came news of alarm in Venice over a plan to tap gas fields off the city's coast.@@@@1@19@@oe@2-2-2013
20576042@unknown@formal@none@1@S@Now comes word from a scientist that over the next century Venice will sink nearly three times faster than the present rate because of the "greenhouse effect."@@@@1@27@@oe@2-2-2013
20576043@unknown@formal@none@1@S@"Global warming means higher tides which will lower Venice by another 23 inches in the next 100 years," Giovanni Cecconi of the the New Venice Consortium said.@@@@1@27@@oe@2-2-2013
20576044@unknown@formal@none@1@S@The consortium of scientists and companies was set up by Italy to help preserve the fabled city of canals.@@@@1@19@@oe@2-2-2013
20576045@unknown@formal@none@1@S@Venice has sunk 10 inches in this century.@@@@1@8@@oe@2-2-2013
20576046@unknown@formal@none@1@S@West Germany's Quelle said it will establish a mail-order operation with two local partners in the Soviet Union next year.@@@@1@20@@oe@2-2-2013
20576047@unknown@formal@none@1@S@Saying this is a first for a Western company, West Germany's largest mail-order group said the newly established Moscow-based Intermoda company is scheduled to begin operations in February 1990.@@@@1@29@@oe@2-2-2013
20576048@unknown@formal@none@1@S@Intermoda will initially only send the textile and clothing section of the Quelle catalog, translated into Russian, to Soviet customers who have access to convertible currency.@@@@1@26@@oe@2-2-2013
20576049@unknown@formal@none@1@S@The European Community Commission has imposed provisional anti-dumping duties on imports of South Korean small-screen color-television sets.@@@@1@17@@oe@2-2-2013
20576050@unknown@formal@none@1@S@Saying that a surge in low-priced imports had damaged EC producers' profits and led to job losses, the commission imposed a duty of 10.2% on TVs made by Daewoo, a duty of 12.3% on Goldstar Co., 13% on Samsung and 19.6% on TVs made by other South Korean producers.@@@@1@49@@oe@2-2-2013
20576051@unknown@formal@none@1@S@The commission said that EC television producers lost "important market shares" and suffered an "unsustainable" pressure on prices because of the Korean companies' marketing and pricing policies, which it said were "in clear violation" of international trade rules.@@@@1@38@@oe@2-2-2013
20576052@unknown@formal@none@1@S@In other news concerning South Korea's television industry, Samsung signed an agreement with Soyuz, the external-trade organization of the Soviet Union, to swap Korean television sets and videocassette recorders for pig iron from the Soviet Union.@@@@1@36@@oe@2-2-2013
20576053@unknown@formal@none@1@S@South Korea and the Soviet Union have no diplomatic relations but exchanged trade offices earlier this year.@@@@1@17@@oe@2-2-2013
20576054@unknown@formal@none@1@S@Sri Lanka, where more than 15,000 people have died in six years of ethnic turmoil, said it will ban sex and violence from state-owned television next year.@@@@1@27@@oe@2-2-2013
20576055@unknown@formal@none@1@S@"Many programs we have now come from the West and are not suitable to our culture," a government minister said.@@@@1@20@@oe@2-2-2013
20576056@unknown@formal@none@1@S@A star attraction on the national network is the U.S.'s "Dynasty." . . .@@@@1@14@@oe@2-2-2013
20576057@unknown@formal@none@1@S@A poll of South Koreans showed overwhelming opposition to efforts to curb dog-meat consumption just because it offends foreigners.@@@@1@19@@oe@2-2-2013
20577001@unknown@formal@none@1@S@Broad Inc. said it doubled its regular quarterly dividend to five cents a share from 2.5 cents on common, and to 4.5 cents a share 2.25 cents on Class B stock, payable Nov. 10 to holders of record Nov. 6.@@@@1@40@@oe@2-2-2013
20577002@unknown@formal@none@1@S@The financial services company emerged from the restructuring of Kaufman & Broad, Inc., which spun off its home-building subsidiary into Kaufman & Broad Home Corp. earlier this year and changed its name to Broad Inc.@@@@1@35@@oe@2-2-2013
20577003@unknown@formal@none@1@S@For the 10-month fiscal year ended Sept. 30, Chairman Eli Broad said he expected earnings results to approximate analysts' estimates, which the company said have been revised upward to 80 cents a share.@@@@1@33@@oe@2-2-2013
20577004@unknown@formal@none@1@S@This would compare with an estimated loss of 3 cents a share for the comparable 10 months last year, which included restructuring costs.@@@@1@23@@oe@2-2-2013
20578001@unknown@formal@none@1@S@If this battle were a movie, the producers would be fighting over two scripts with nothing but an opening scene in common.@@@@1@22@@oe@2-2-2013
20578002@unknown@formal@none@1@S@In the opener, Sony Corp. would agree to buy Columbia Pictures Entertainment Inc. in a transaction valued at close to $5 billion.@@@@1@22@@oe@2-2-2013
20578003@unknown@formal@none@1@S@Shortly after that, Sony would offer to buy Guber-Peters Entertainment Co. for $200 million and offer its co-chairmen, Peter Guber and Jon Peters, the chance to run Columbia.@@@@1@28@@oe@2-2-2013
20578004@unknown@formal@none@1@S@Mr. Peters would fly to New York with the intention of telling Warner Communications Inc. Chairman Steven J. Ross that Guber-Peters planned to end its five-year contract to produce movies exclusively for Warner.@@@@1@33@@oe@2-2-2013
20578005@unknown@formal@none@1@S@That's where the two scripts would diverge.@@@@1@7@@oe@2-2-2013
20578006@unknown@formal@none@1@S@In affidavits filed in Los Angeles Superior Court in connection with the $1 billion breach-of-contract suit Warner brought against Sony for hiring the two producers, Mr. Guber and Mr. Peters tell one story.@@@@1@33@@oe@2-2-2013
20578007@unknown@formal@none@1@S@Warner tells another.@@@@1@3@@oe@2-2-2013
20578008@unknown@formal@none@1@S@In the affidavits, Mr. Peters says he was "shocked" when Mr. Ross refused a meeting and made it clear he would stop them.@@@@1@23@@oe@2-2-2013
20578009@unknown@formal@none@1@S@Mr. Peters claims he reminded Mr. Ross that Robert Daly and Terry Semel, the top executives of the Warner Brothers studio, had "repeatedly agreed that we had every right to accept" an offer such as Sony's.@@@@1@36@@oe@2-2-2013
20578010@unknown@formal@none@1@S@In response, Mr. Peters says, Mr. Ross referred to his colleagues at Warner with an "obscenity" and said: "Tell them that they don't have a job.@@@@1@26@@oe@2-2-2013
20578011@unknown@formal@none@1@S@You can take them with you."@@@@1@6@@oe@2-2-2013
20578012@unknown@formal@none@1@S@Warner denies Mr. Ross ever said any such thing, and, in fact, denies virtually everything Mr. Guber and Mr. Peters say in their affidavits.@@@@1@24@@oe@2-2-2013
20578013@unknown@formal@none@1@S@Tomorrow, Warner will file another batch of documents contending that "the essence of everything these guys are saying is basically lies," says Warner's chief outside counsel, Stuart Rabinowitz.@@@@1@28@@oe@2-2-2013
20578014@unknown@formal@none@1@S@Thursday, a judge is scheduled to rule on Warner's motion seeking to block the Guber-Peters duo from going to Columbia.@@@@1@20@@oe@2-2-2013
20578015@unknown@formal@none@1@S@The battery of legal documents filed in the past week in connection with the suit provide a peek into the inner workings of this Hollywood dogfight.@@@@1@26@@oe@2-2-2013
20578016@unknown@formal@none@1@S@But they also make it clear that the first thing a judge will have to decide is which, if any, version of events in this morass is fiction, and which fact.@@@@1@31@@oe@2-2-2013
20578017@unknown@formal@none@1@S@The matter may never even be tried in court.@@@@1@9@@oe@2-2-2013
20578018@unknown@formal@none@1@S@Warner says that what it really wants is for the producers to fulfill their contractual obligations, but the bitterness of this battle and the accusations flying on both sides make it unlikely that the decade-long relationship between Warner and its two most prolific producers can ever be repaired.@@@@1@48@@oe@2-2-2013
20578019@unknown@formal@none@1@S@Warner, which is in the process of merging with Time Warner Inc., says it is willing to settle the matter out of court.@@@@1@23@@oe@2-2-2013
20578020@unknown@formal@none@1@S@So far, however, Sony hasn't been willing to meet its considerable financial demands.@@@@1@13@@oe@2-2-2013
20578021@unknown@formal@none@1@S@Mr. Guber and Mr. Peters don't have much to gain from a protracted battle.@@@@1@14@@oe@2-2-2013
20578022@unknown@formal@none@1@S@Sony, for its part, could decide that the cost of a Warner settlement or court fight is too high, choosing instead to find someone else to run Columbia, although that too would be costly given the financial arrangement already guaranteed to Mr. Guber and Mr. Peters.@@@@1@46@@oe@2-2-2013
20578023@unknown@formal@none@1@S@In that case, Mr. Guber and Mr. Peters might not suffer financially, but they would be left without their dream job of running a studio and with a considerably scarred relationship with Warner.@@@@1@33@@oe@2-2-2013
20578024@unknown@formal@none@1@S@At the center of any court fight will be the differing interpretations of the written contract between Warner and the two producers, but other murkier issues will play a big role.@@@@1@31@@oe@2-2-2013
20578025@unknown@formal@none@1@S@Sony and the Guber-Peters team are hanging much of their case on Warner's willingness last year to release the producers from another contract and on an oral agreement they say allowed them to terminate the current written contract if the opportunity to run a major studio came up.@@@@1@48@@oe@2-2-2013
20578026@unknown@formal@none@1@S@Warner denies such an agreement was made, and disputes the Guber-Peters version of virtually every telephone call and meeting the two sides had on the matter.@@@@1@26@@oe@2-2-2013
20578027@unknown@formal@none@1@S@Just how rancorous the relationship has become is clear from the differing versions of the two sides' current business dealings.@@@@1@20@@oe@2-2-2013
20578028@unknown@formal@none@1@S@Mr. Guber and Mr. Peters say in their affidavits that Warner already is taking steps to freeze them out of their projects at Warner, notably the Sylvester Stallone film "Tango and Cash."@@@@1@32@@oe@2-2-2013
20578029@unknown@formal@none@1@S@Mr. Peters says in his affidavit that the movie's staff was told last week that Warner was "taking over" the picture, and another producer would be giving all of the orders.@@@@1@31@@oe@2-2-2013
20578030@unknown@formal@none@1@S@Over his objections, Mr. Peters says, the film's release date was moved up "by many months" to December, and plans for a soundtrack "worth millions of dollars" were dropped.@@@@1@29@@oe@2-2-2013
20578031@unknown@formal@none@1@S@Hubert de la Bouillaire, an editor on the film, backs Mr. Peters in a separate sworn declaration.@@@@1@17@@oe@2-2-2013
20578032@unknown@formal@none@1@S@Mr. de la Bouillaire says Warner Brothers production president Mark Canton called him Oct. 19 and said Mr. Peters is "off the picture.@@@@1@23@@oe@2-2-2013
20578033@unknown@formal@none@1@S@If he calls you up, just tell him everything is fine."@@@@1@11@@oe@2-2-2013
20578034@unknown@formal@none@1@S@The editor also says the new producer on the film, Bruce Baird, told editors to screen the picture without telling stars Sylvester Stallone and Kurt Russell or Mr. Peters.@@@@1@29@@oe@2-2-2013
20578035@unknown@formal@none@1@S@"The less they know, the easier it is for us.@@@@1@10@@oe@2-2-2013
20578036@unknown@formal@none@1@S@If someone asks, just lie and tell them it will be done," Mr. de la Bouillaire says Mr. Baird told them.@@@@1@21@@oe@2-2-2013
20578037@unknown@formal@none@1@S@That, says Warner's Mr. Rabinowitz, is "a total 100% lie."@@@@1@10@@oe@2-2-2013
20578038@unknown@formal@none@1@S@The movie, he says, is in its post-production stages of "cleaning up the film."@@@@1@14@@oe@2-2-2013
20578039@unknown@formal@none@1@S@He says Mr. Peters and Mr. Guber, as the contractual producers with consultation rights, have been invited to screenings and to give their input on the film.@@@@1@27@@oe@2-2-2013
20578040@unknown@formal@none@1@S@Dozens of Guber-Peters staffers are still working on the Warner lot and consulting on various projects on a "daily basis," the attorney says.@@@@1@23@@oe@2-2-2013
20578041@unknown@formal@none@1@S@Mr. Guber, in his affidavit, says that when he advised Warner President Terry Semel of the Sony offer at lunch on Sept. 25, Mr. Semel "hugged and congratulated me, and expressed joy that we had finally realized our long-term ambition of running and having an equity position in a major entertainment company."@@@@1@52@@oe@2-2-2013
20578042@unknown@formal@none@1@S@Mr. Guber says he brought to lunch a release document Warner had agreed to in 1988, when he and Mr. Peters made an aborted bid to buy part of MGM/UA Entertainment Co. to run the MGM studio.@@@@1@37@@oe@2-2-2013
20578043@unknown@formal@none@1@S@Mr. Guber says he had crossed out "MGM" with a red pen and written in "Columbia," giving the document to Mr. Semel.@@@@1@22@@oe@2-2-2013
20578044@unknown@formal@none@1@S@"Mr. Semel said absolutely nothing to indicate Warner would have any objection to our assuming management positions at Columbia," Mr. Guber says.@@@@1@22@@oe@2-2-2013
20578045@unknown@formal@none@1@S@Mr. Semel, in his affidavit, doesn't mention any hugging or congratulating.@@@@1@11@@oe@2-2-2013
20578046@unknown@formal@none@1@S@He says he told Mr. Guber he couldn't sign any documents and that "the deal, although apparently a good one for him and Mr. Peters, would have a very negative impact on Warner."@@@@1@33@@oe@2-2-2013
20578047@unknown@formal@none@1@S@He said he would contact Mr. Ross and Warner Brothers Chairman Robert Daly and that, in a conference call, the three agreed they couldn't let the producers out of their contract.@@@@1@31@@oe@2-2-2013
20578048@unknown@formal@none@1@S@Mr. Ross, in his own affidavit, says he and Mr. Daly instructed Mr. Semel to tell the producers Warner wouldn't terminate their agreement.@@@@1@23@@oe@2-2-2013
20578049@unknown@formal@none@1@S@Mr. Guber says that Mr. Semel did convey that information and that Mr. Semel said Mr. Ross was "crazy because of the Time deal," meaning, Mr. Guber says, that Mr. Ross "did not want to communicate to his new merger partner, Time Inc., that Warner's agreements provided for our departure under these circumstances."@@@@1@53@@oe@2-2-2013
20578050@unknown@formal@none@1@S@Mr. Guber also says in his affidavit that Mr. Daly "told us that even if Sony did not want us, Warner's relationship with us already was irreparably damaged, that there was no way `to put the egg together,' and that it would sue Sony for tons of money."@@@@1@48@@oe@2-2-2013
20578051@unknown@formal@none@1@S@Moreover, Mr. Guber claims, Mr. Semel told him that Mr. Ross probably wouldn't object "if it were anybody other than Sony.@@@@1@21@@oe@2-2-2013
20578052@unknown@formal@none@1@S@But Sony is a problem."@@@@1@5@@oe@2-2-2013
20578053@unknown@formal@none@1@S@The Guber-Peters side has said Warner is particularly concerned about the prospect of a huge Japanese company controlling important segments of the U.S. entertainment business.@@@@1@25@@oe@2-2-2013
20578054@unknown@formal@none@1@S@Some in Hollywood suggest Mr. Guber and Mr. Peters took encouragement from Warner studio executives such as Mr. Semel and Mr. Canton too literally.@@@@1@24@@oe@2-2-2013
20578055@unknown@formal@none@1@S@According to this theory, Warner executives, hoping to strengthen their relationships with the producers, encouraged Mr. Guber and Mr. Peters in their ambitions to build a major entertainment company.@@@@1@29@@oe@2-2-2013
20578056@unknown@formal@none@1@S@But the Warner executives in their affidavits deny ever telling the producers they could get out of their written contract.@@@@1@20@@oe@2-2-2013
20578057@unknown@formal@none@1@S@Mr. Rabinowitz, the Warner attorney, says the studio still wants the producers to come back and fulfill their contract.@@@@1@19@@oe@2-2-2013
20578058@unknown@formal@none@1@S@"They are like a mini-studio; they have 50 projects in development for Warner," he says.@@@@1@15@@oe@2-2-2013
20578059@unknown@formal@none@1@S@But Mr. Guber indicates in his affidavit that not all of the projects will be used.@@@@1@16@@oe@2-2-2013
20578060@unknown@formal@none@1@S@For example, he says that since 1985, he and Mr. Peters have developed over 85 movie projects, and Warner has "passed" or chosen not to produce at least 76.@@@@1@29@@oe@2-2-2013
20578061@unknown@formal@none@1@S@As for the projects remaining at Warner, Mr. Guber says, "Mr. Semel informed me that Warner's producers have already started a `feeding frenzy' for our projects.@@@@1@26@@oe@2-2-2013
20579001@unknown@formal@none@1@S@E.W. Scripps Co. said it has acquired a Georgia cable television company and a Massachusetts publishing firm.@@@@1@17@@oe@2-2-2013
20579002@unknown@formal@none@1@S@Terms on both deals weren't disclosed.@@@@1@6@@oe@2-2-2013
20579003@unknown@formal@none@1@S@The media company said it purchased Cable USA Inc., a privately held cable television system in Carroll County, Ga., a suburb of Atlanta.@@@@1@23@@oe@2-2-2013
20579004@unknown@formal@none@1@S@The system is still under construction and will serve a market of 7,600 homes.@@@@1@14@@oe@2-2-2013
20579005@unknown@formal@none@1@S@The company also has acquired Sundance Publishers and Distributors Inc., a family owned producer and distributor of educational materials in Littleton, Mass.@@@@1@22@@oe@2-2-2013
20580001@unknown@formal@none@1@S@Despite politicians' hand-wringing about the federal budget, the government ended fiscal 1989 with a $152.08 billion deficit, about the same as the two previous years.@@@@1@25@@oe@2-2-2013
20580002@unknown@formal@none@1@S@Even White House budget director Richard Darman had trouble finding a silver lining in the report.@@@@1@16@@oe@2-2-2013
20580003@unknown@formal@none@1@S@"I suppose you could say the good news is that the deficits are not heading up," he said, "but you can't be satisfied with deficits at this level and we're not."@@@@1@31@@oe@2-2-2013
20580004@unknown@formal@none@1@S@The federal deficit was $155.15 billion in 1988 and $149.69 billion in 1987.@@@@1@13@@oe@2-2-2013
20580005@unknown@formal@none@1@S@The 1989 deficit would have been nearly $10 billion larger had the government been able to spend as much as Congress intended on cleaning up the thrift industry before the year ended on Sept. 30.@@@@1@35@@oe@2-2-2013
20580006@unknown@formal@none@1@S@Because the Resolution Trust Corp. couldn't spend the money fast enough, the savings-and-loan outlays were pushed into fiscal 1990.@@@@1@19@@oe@2-2-2013
20580007@unknown@formal@none@1@S@Nevertheless, the 1989 deficit still exceeded the $136 billion target set by the Gramm-Rudman deficit-reduction law by $16 billion, a reminder of that law's shortcomings.@@@@1@25@@oe@2-2-2013
20580008@unknown@formal@none@1@S@The law sets a deficit target of $100 billion for fiscal 1990.@@@@1@12@@oe@2-2-2013
20580009@unknown@formal@none@1@S@A partisan fight over cutting capital-gains taxes has slowed the progress of 1990 deficit-reduction legislation almost to a halt, triggering across-the-board spending cuts under the Gramm-Rudman law.@@@@1@27@@oe@2-2-2013
20580010@unknown@formal@none@1@S@The White House and the Democratic leadership in Congress blame each other for turning capital-gains taxes into such a divisive issue this year.@@@@1@23@@oe@2-2-2013
20580011@unknown@formal@none@1@S@Neither side showed any sign of retreating.@@@@1@7@@oe@2-2-2013
20580012@unknown@formal@none@1@S@Meeting with reporters Friday, Mr. Darman again said he would rather live with across-the-board spending cuts than accept a deficit-reduction bill like the one passed by the House, which would increase spending in future years.@@@@1@35@@oe@2-2-2013
20580013@unknown@formal@none@1@S@Underscoring the size of the deficits of the past few years, the Treasury report showed that for the first time interest paid on the public debt -- $240.86 billion -- exceeded spending on Social Security, the single largest government program.@@@@1@40@@oe@2-2-2013
20580014@unknown@formal@none@1@S@In all, federal outlays amounted to $1.143 trillion in 1989, up 7.5% from the previous year, the Treasury said.@@@@1@19@@oe@2-2-2013
20580015@unknown@formal@none@1@S@Federal revenues rose 9% to $990.79 billion.@@@@1@7@@oe@2-2-2013
20580016@unknown@formal@none@1@S@The Treasury said a surge in tax receipts noted earlier in the year didn't turn out to be quite as strong as it first appeared.@@@@1@25@@oe@2-2-2013
20580017@unknown@formal@none@1@S@The Treasury marked up its forecast by $17 million in July, but that proved to be about $5 billion too optimistic.@@@@1@21@@oe@2-2-2013
20580018@unknown@formal@none@1@S@The government ran a deficit of $6.16 billion in September, compared with a surplus of $10.17 billion in September 1988.@@@@1@20@@oe@2-2-2013
20580019@unknown@formal@none@1@S@Outlays for the month totaled $105.39 billion, up from $87.57 billion a year earlier.@@@@1@14@@oe@2-2-2013
20580020@unknown@formal@none@1@S@The increase reflects spending on the S&L rescue as well as payroll and Social Security checks normally issued in October that were issued in September this year because Oct. 1 fell on a Sunday.@@@@1@34@@oe@2-2-2013
20580021@unknown@formal@none@1@S@Revenues were $99.23 billion, up from $97.74 billion a year earlier.@@@@1@11@@oe@2-2-2013
20581001@unknown@formal@none@1@S@CMS Energy Corp. said it would begin paying a 10-cent-a-share quarterly dividend, the company's first since 1984.@@@@1@17@@oe@2-2-2013
20581002@unknown@formal@none@1@S@Consumers Power Co., now the main unit of CMS Energy, ran into financial problems over its $4.2 billion Midland nuclear plant, which was abandoned as a nuclear facility in 1984 because of construction delays and high costs.@@@@1@37@@oe@2-2-2013
20581003@unknown@formal@none@1@S@CMS is nearly done converting the Midland plant to a gas-fired cogeneration facility at a cost of $600 million.@@@@1@19@@oe@2-2-2013
20581004@unknown@formal@none@1@S@CMS management said Thursday that they planned to recommend paying a modest dividend when the board of directors met Friday.@@@@1@20@@oe@2-2-2013
20581005@unknown@formal@none@1@S@The dividend will be paid Nov. 22 to shares of record Nov. 7.@@@@1@13@@oe@2-2-2013
20581006@unknown@formal@none@1@S@The company suffered a loss of $270 million in 1985, but its financial situation has been improving since then.@@@@1@19@@oe@2-2-2013
20582001@unknown@formal@none@1@S@Humana Inc. said it expects to receive about $27 million in federal income-tax refunds and interest from a court ruling on a tax dispute.@@@@1@24@@oe@2-2-2013
20582002@unknown@formal@none@1@S@The health-care company said it expects the refund to be included in the first quarter ending Nov. 30.@@@@1@18@@oe@2-2-2013
20582003@unknown@formal@none@1@S@The refund is about $9 million.@@@@1@6@@oe@2-2-2013
20582004@unknown@formal@none@1@S@Accrued interest on the refund was about $18 million as of Oct. 25.@@@@1@13@@oe@2-2-2013
20582005@unknown@formal@none@1@S@The refund stems from a court ruling that found certain payments by Humana subsidiaries to its insurance subsidiary during fiscal 1977 through 1979 were deductible as premiums for liability insurance.@@@@1@30@@oe@2-2-2013
20583001@unknown@formal@none@1@S@Polly Peck International Inc.'s agreement to acquire 51% of Sansui Electric Co. proves that foreign companies can acquire Japanese companies -- if the alternative for the Japanese company is extinction.@@@@1@30@@oe@2-2-2013
20583002@unknown@formal@none@1@S@Polly Peck, a fast-growing British conglomerate, will pay 15.6 billion yen ($110 million) for 39 million new shares of Sansui, a well-known maker of high-fidelity audio equipment that failed to adjust to changing market conditions.@@@@1@35@@oe@2-2-2013
20583003@unknown@formal@none@1@S@Japanese government officials, eager to rebut foreign criticism of Japanese investments overseas, hailed the transaction as proof foreigners can make similar investments in Japan.@@@@1@24@@oe@2-2-2013
20583004@unknown@formal@none@1@S@Polly Peck's chairman, Asil Nadir, echoed the official Japanese view of the accord, which was announced Friday.@@@@1@17@@oe@2-2-2013
20583005@unknown@formal@none@1@S@"The myths that Japan is not open to concerns from outside has, I think, been demolished at a stroke," Mr. Nadir said.@@@@1@22@@oe@2-2-2013
20583006@unknown@formal@none@1@S@But analysts say Sansui is a special case.@@@@1@8@@oe@2-2-2013
20583007@unknown@formal@none@1@S@It expects to post a loss of 6.4 billion yen for the year ending tomorrow and its liabilities currently exceed its assets by about 13.8 billion yen. "@@@@1@28@@oe@2-2-2013
20583008@unknown@formal@none@1@S@If you find sound, healthy companies in Japan, they are not for sale," said George Watanabe, a management-consultant at Tokyo-based Asia Advisory Services Inc.@@@@1@24@@oe@2-2-2013
20583009@unknown@formal@none@1@S@Statistics on acquisitions by foreigners vary in detail, because unlike Sansui, which is listed on the Tokyo and Osaka stock exchanges, most of the Japanese companies acquired by foreigners are privately held.@@@@1@32@@oe@2-2-2013
20583010@unknown@formal@none@1@S@But by all accounts foreign companies have bought only a relative handful of Japanese companies this year, while Japanese companies have acquired hundreds of foreign companies.@@@@1@26@@oe@2-2-2013
20583011@unknown@formal@none@1@S@Nor do analysts expect the Sansui deal to touch off a fresh wave of foreign purchases.@@@@1@16@@oe@2-2-2013
20583012@unknown@formal@none@1@S@If the strong yen and the high stock prices of Japanese companies weren't deterrents enough, webs of cross-shareholdings between friendly Japanese companies and fiercely independent Japanese corporate attitudes repel most would-be acquirers.@@@@1@32@@oe@2-2-2013
20583013@unknown@formal@none@1@S@Usually when a Japanese company is ready to sell, it has few alternatives remaining, and the grim demeanors of Sansui's directors at a joint news conference here left little doubt that this was not the company's finest hour.@@@@1@38@@oe@2-2-2013
20583014@unknown@formal@none@1@S@Sansui was once one of Japan's premier makers of expensive, high-quality stereo gear for audiophiles.@@@@1@15@@oe@2-2-2013
20583015@unknown@formal@none@1@S@But in recent years, the market has moved toward less expensive "mini-component" sets, miniaturized amplifiers and receivers and software players that could be stacked on top of each other.@@@@1@29@@oe@2-2-2013
20583016@unknown@formal@none@1@S@Some of Sansui's fellow audio-specialty companies, such as Aiwa Co. and Pioneer Electric Corp., responded to the challenge by quickly bringing out mini-component products of their own, by moving heavily into the booming compact disk businesses or by diversifying into other consumer-electronics fields, including laser disks or portable cassette players.@@@@1@50@@oe@2-2-2013
20583017@unknown@formal@none@1@S@Sansui was late into the mini-component business and failed to branch into other new businesses.@@@@1@15@@oe@2-2-2013
20583018@unknown@formal@none@1@S@As the yen soared in recent years, Sansui's deepening financial problems became a vicious circle.@@@@1@15@@oe@2-2-2013
20583019@unknown@formal@none@1@S@While competitors moved production offshore in response to the sagging competitiveness of Japanese factories, Sansui lacked the money to build new plants in Southeast Asia.@@@@1@25@@oe@2-2-2013
20583020@unknown@formal@none@1@S@"Our company has not been able to cope very effectively with" changes in the marketplace, said Ryosuke Ito, Sansui's president.@@@@1@20@@oe@2-2-2013
20583021@unknown@formal@none@1@S@But even a Japanese company that looks like a dog may turn out to be a good investment for a foreign concern, some management consultants maintain.@@@@1@26@@oe@2-2-2013
20583022@unknown@formal@none@1@S@Yoshihisa Murasawa, a management consultant for Booz-Allen & Hamilton (Japan) Inc., said his firm will likely be recommending acquisitions of Japanese companies more often to foreign clients in the future.@@@@1@30@@oe@2-2-2013
20583023@unknown@formal@none@1@S@"Attitudes {toward being acquired} are still negative, but they're becoming more positive," Mr. Murasawa said.@@@@1@15@@oe@2-2-2013
20583024@unknown@formal@none@1@S@"In some industries, like pharmaceuticals, acquisitions make sense."@@@@1@8@@oe@2-2-2013
20583025@unknown@formal@none@1@S@Whether Polly Peck's acquisition makes sense remains to be seen, but at the news conference, Mr. Nadir brimmed with self-confidence that he can turn Sansui around.@@@@1@26@@oe@2-2-2013
20583026@unknown@formal@none@1@S@Sansui, he said, is a perfect fit for Polly Peck's electronics operations, which make televisions, videocassette recorders, microwaves and other products on an "original equipment maker" basis for sale under other companies' brand names.@@@@1@34@@oe@2-2-2013
20583027@unknown@formal@none@1@S@He said Polly Peck will greatly expand Sansui's product line, using Sansui's engineers to design the new products, and will move Sansui's production of most products other than sophisticated audio gear offshore into Polly Peck's own factories.@@@@1@37@@oe@2-2-2013
20583028@unknown@formal@none@1@S@"Whatever capital it (Sansui) needs so it can compete and become a totally global entity capable of competing with the best in the world, that capital will be injected," Mr. Nadir said.@@@@1@32@@oe@2-2-2013
20583029@unknown@formal@none@1@S@And while Polly Peck isn't jettisoning the existent top-management structure of Sansui, it is bringing in a former Toshiba Corp. executive as executive vice president and chief operating officer.@@@@1@29@@oe@2-2-2013
20583030@unknown@formal@none@1@S@Such risk taking is an everyday matter for the brash Mr. Nadir, who is 25% owner of Polly Peck as well as its chairman.@@@@1@24@@oe@2-2-2013
20583031@unknown@formal@none@1@S@He took Polly Peck, once a small fabric wholesaler, and used it at as a base to build a conglomerate that has been doubling its profits annually since 1980.@@@@1@29@@oe@2-2-2013
20583032@unknown@formal@none@1@S@In September, it announced plans to acquire the tropical-fruit business of RJR Nabisco Inc.'s Del Monte foods unit for #557 million ($878 million).@@@@1@23@@oe@2-2-2013
20583033@unknown@formal@none@1@S@Last month, Polly Peck posted a 38% jump in pretax profit for the first half to #54.8 million from #39.8 million on a 63% rise in sales.@@@@1@27@@oe@2-2-2013
20583034@unknown@formal@none@1@S@Joann S. Lublin in London contributed to this article.@@@@1@9@@oe@2-2-2013
20584001@unknown@formal@none@1@S@The bolstered cellular agreement between BellSouth Corp. and LIN Broadcasting Corp. carries heightened risks and could fail to fend off McCaw Cellular Communications Inc., the rival suitor for LIN.@@@@1@29@@oe@2-2-2013
20584002@unknown@formal@none@1@S@Moreover, the amended pact shows how McCaw's persistence has pushed LIN and BellSouth into a corner, forcing huge debt on the proposed new company.@@@@1@24@@oe@2-2-2013
20584003@unknown@formal@none@1@S@The debt, estimated at $4.7 billion, could mortgage the cellular company's future earning power in order to placate some LIN holders in the short term.@@@@1@25@@oe@2-2-2013
20584004@unknown@formal@none@1@S@The plan still calls for LIN to combine its cellular telephone properties with BellSouth's and to spin off its broadcasting operations.@@@@1@21@@oe@2-2-2013
20584005@unknown@formal@none@1@S@But under new terms of the agreement, announced Friday, LIN holders would receive a special cash dividend of $42 a share, representing a payout of about $2.23 billion, shortly before the proposed merger.@@@@1@33@@oe@2-2-2013
20584006@unknown@formal@none@1@S@LIN said it expects to borrow the money to pay the dividend, but commitments from banks still haven't been obtained.@@@@1@20@@oe@2-2-2013
20584007@unknown@formal@none@1@S@Under previous terms, holders would have received a dividend of only $20 a share.@@@@1@14@@oe@2-2-2013
20584008@unknown@formal@none@1@S@In addition, New York-based LIN would exercise its right to buy out for $1.9 billion the 55% equity interest of its partner, Metromedia Co., in a New York cellular franchise.@@@@1@30@@oe@2-2-2013
20584009@unknown@formal@none@1@S@That money also would have to be borrowed.@@@@1@8@@oe@2-2-2013
20584010@unknown@formal@none@1@S@In effect, McCaw has forced LIN's hand by bidding $1.9 billion for the stake earlier this month.@@@@1@17@@oe@2-2-2013
20584011@unknown@formal@none@1@S@"We're taking on more debt than we would have liked to," acknowledged Michael Plouf, LIN's vice president and treasurer.@@@@1@19@@oe@2-2-2013
20584012@unknown@formal@none@1@S@Although he expressed confidence that the proposed new company's cash flow would be sufficient to cover interest payments on the debt, he estimated that the company wouldn't be profitable until 1994 or later.@@@@1@33@@oe@2-2-2013
20584013@unknown@formal@none@1@S@Analyst estimate the value of the BellSouth proposal at about $115 to $125 a share.@@@@1@15@@oe@2-2-2013
20584014@unknown@formal@none@1@S@They value McCaw's bid at $112 to $118 a share.@@@@1@10@@oe@2-2-2013
20584015@unknown@formal@none@1@S@The previous BellSouth pact was valued at about $98 to $110 a share.@@@@1@13@@oe@2-2-2013
20584016@unknown@formal@none@1@S@McCaw, the largest provider of cellular telephone service in the U.S., already owns about 9.4% of LIN's stock.@@@@1@18@@oe@2-2-2013
20584017@unknown@formal@none@1@S@In response to BellSouth's amended pact, the Kirkland, Wash., company extended its own offer to buy 22 million LIN shares for $125 apiece, which would give McCaw a 50.3% controlling interest.@@@@1@31@@oe@2-2-2013
20584018@unknown@formal@none@1@S@Over the weekend, McCaw continued to call for an auction of LIN.@@@@1@12@@oe@2-2-2013
20584019@unknown@formal@none@1@S@Analysts said they expect McCaw to escalate the bidding again.@@@@1@10@@oe@2-2-2013
20584020@unknown@formal@none@1@S@"This game isn't over yet," said Joel D. Gross, a vice president at Donaldson, Lufkin & Jenrette Securities Corp.@@@@1@19@@oe@2-2-2013
20584021@unknown@formal@none@1@S@"At some point, it will become non-economical for one company.@@@@1@10@@oe@2-2-2013
20584022@unknown@formal@none@1@S@But I don't think we're at that point yet."@@@@1@9@@oe@2-2-2013
20584023@unknown@formal@none@1@S@Under its revised proposal, Atlanta-based BellSouth would have a 50% interest in the new cellular company and would be responsible for half of its debt.@@@@1@25@@oe@2-2-2013
20584024@unknown@formal@none@1@S@To sweeten the pact further -- and to ease concerns of institutional investors -- BellSouth added a provision designed to give extra protection to holders if the regional Bell company ever decides to buy the rest of the new cellular company.@@@@1@41@@oe@2-2-2013
20584025@unknown@formal@none@1@S@The provision, described as "back-end" protection, would require BellSouth to pay a price equivalent to what an outside party might have to pay.@@@@1@23@@oe@2-2-2013
20584026@unknown@formal@none@1@S@McCaw's bid also has a similar clause.@@@@1@7@@oe@2-2-2013
20584027@unknown@formal@none@1@S@Only McCaw's proposal requires the company to begin an auction process in June 1994 for remaining shares at third-party prices.@@@@1@20@@oe@2-2-2013
20584028@unknown@formal@none@1@S@To mollify shareholders concerned about the long-term value of the company under the BellSouth-LIN agreement, BellSouth also agreed to pay as much as $10 a share, or $540 million, if, after five years, the trading value of the new cellular company isn't as high as the value that shareholders would have realized from the McCaw offer.@@@@1@56@@oe@2-2-2013
20584029@unknown@formal@none@1@S@"We're very pleased with the new deal.@@@@1@7@@oe@2-2-2013
20584030@unknown@formal@none@1@S@We didn't expect BellSouth to be so responsive," said Frederick A. Moran, president of Moran Asset Management Inc., which holds 500,000 LIN shares.@@@@1@23@@oe@2-2-2013
20584031@unknown@formal@none@1@S@BellSouth's "back-end protection was flawed previously.@@@@1@6@@oe@2-2-2013
20584032@unknown@formal@none@1@S@We think this is a superior deal to McCaw's.@@@@1@9@@oe@2-2-2013
20584033@unknown@formal@none@1@S@We're surprised.@@@@1@2@@oe@2-2-2013
20584034@unknown@formal@none@1@S@We didn't think a sleeping {Bell} mentality would be willing to take on dilution."@@@@1@14@@oe@2-2-2013
20584035@unknown@formal@none@1@S@But Kenneth Leon, a telecommunications analyst with Bear, Stearns & Co., finds the BellSouth proposal still flawed because the company doesn't have to wait five years to begin buying more LIN shares.@@@@1@32@@oe@2-2-2013
20584036@unknown@formal@none@1@S@"How many shares will be around in 1995?" he asked.@@@@1@10@@oe@2-2-2013
20584037@unknown@formal@none@1@S@"There's nothing preventing BellSouth from buying up shares in the meanwhile."@@@@1@11@@oe@2-2-2013
20584038@unknown@formal@none@1@S@BellSouth's revised proposal surprised many industry analysts, especially because of the company's willingness to accept some dilution of future earnings.@@@@1@20@@oe@2-2-2013
20584039@unknown@formal@none@1@S@William O. McCoy, president of the company's BellSouth Enterprises Inc. unit, said the revised agreement with LIN would dilute BellSouth earnings by about 9% in both 1990 and 1991 and by significantly less thereafter.@@@@1@34@@oe@2-2-2013
20584040@unknown@formal@none@1@S@Indeed, BellSouth's cellular operations were among the first in the country to become profitable.@@@@1@14@@oe@2-2-2013
20584041@unknown@formal@none@1@S@For 1988, BellSouth earned $1.7 billion, or $3.51 a share, on revenue of $13.6 billion.@@@@1@15@@oe@2-2-2013
20584042@unknown@formal@none@1@S@Analysts were predicting 1990 BellSouth earnings in the range of $3.90 a share, or $1.9 billion, but now those estimates are being scaled back.@@@@1@24@@oe@2-2-2013
20584043@unknown@formal@none@1@S@In composite trading Friday on the New York Stock Exchange, BellSouth shares fell 87.5 cents to $52.125.@@@@1@17@@oe@2-2-2013
20584044@unknown@formal@none@1@S@In national over-the-counter trading, LIN shares soared $4.625 to closed at $112.625, while McCaw fell $2.50 a share to $37.75.@@@@1@20@@oe@2-2-2013
20584045@unknown@formal@none@1@S@The proposed BellSouth-LIN cellular company, including the newly acquired Metromedia stake, would give the new entity 55 million potential customers, including about 35 million in the nation's top 10 markets.@@@@1@30@@oe@2-2-2013
20584046@unknown@formal@none@1@S@Mr. Leon of Bear Stearns speculated that McCaw, in an attempt to buy time, might consider filing an antitrust suit against BellSouth with the Justice Department and U.S. District Judge Harold Greene, who oversees enforcement of the consent decree that broke up the Bell system in 1984.@@@@1@47@@oe@2-2-2013
20584047@unknown@formal@none@1@S@Indeed, McCaw seemed to hint at that option in a brief statement.@@@@1@12@@oe@2-2-2013
20584048@unknown@formal@none@1@S@Urging LIN directors to conduct "a fair auction on a level playing field," McCaw asked how well the public interest would be served "with the Bell operating companies controlling over 94% of all cellular {potential customers} in the nation's top 10 markets.@@@@1@42@@oe@2-2-2013
20585001@unknown@formal@none@1@S@Market makers in Nasdaq over-the-counter stocks are adding their voices to the swelling chorus of complaints about program trading.@@@@1@19@@oe@2-2-2013
20585002@unknown@formal@none@1@S@Their motivation, however, has a strong practical aspect: Program trading is hazardous to their paychecks.@@@@1@15@@oe@2-2-2013
20585003@unknown@formal@none@1@S@The most controversial form of program trading, stock-index arbitrage, is "making it tough for traders to make money," declares Robert Antolini, head of OTC trading at Donaldson, Lufkin & Jenrette.@@@@1@30@@oe@2-2-2013
20585004@unknown@formal@none@1@S@Stock-index arbitrage -- the computer-guided buying and selling of stocks with offsetting trades in stock-index futures to profit from fleeting price discrepancies -- affects the OTC market directly through the 31 stocks included in Standard & Poor's 500-stock index.@@@@1@39@@oe@2-2-2013
20585005@unknown@formal@none@1@S@The S&P 500 is often used in arbitrage strategies.@@@@1@9@@oe@2-2-2013
20585006@unknown@formal@none@1@S@The portion of OTC volume attributable to program trading isn't known, as it is on the New York Stock Exchange, where it amounted to more than 13% in September.@@@@1@29@@oe@2-2-2013
20585007@unknown@formal@none@1@S@Estimates from traders put it at less than 5% of Nasdaq's average daily volume of roughly 133 million shares.@@@@1@19@@oe@2-2-2013
20585008@unknown@formal@none@1@S@Other market-maker gripes: Program trading also causes the Nasdaq Composite Index to lose ground against other segments of the stock market.@@@@1@21@@oe@2-2-2013
20585009@unknown@formal@none@1@S@Because of program trading it is more difficult to trade many OTC stocks without sharp price moves, a condition known as illiquidity.@@@@1@22@@oe@2-2-2013
20585010@unknown@formal@none@1@S@Moreover, the price volatility that is amplified by program trading is undercutting efforts to woo individual investors back to an OTC market that sorely misses them.@@@@1@26@@oe@2-2-2013
20585011@unknown@formal@none@1@S@Some of these problems are neither new nor unique to the OTC market.@@@@1@13@@oe@2-2-2013
20585012@unknown@formal@none@1@S@But the big, often tumultuous slide in stock prices this month has turned some of those who have been profiting from the practice against it.@@@@1@25@@oe@2-2-2013
20585013@unknown@formal@none@1@S@Peter DaPuzzo, head of retail equity trading at Shearson Lehman Hutton, acknowledges that he wasn't troubled by program trading when it began in the pre-crash bull market because it added liquidity and people were pleased to see stock prices rising.@@@@1@40@@oe@2-2-2013
20585014@unknown@formal@none@1@S@"We weren't as concerned until they became sell programs," says Mr. DaPuzzo, who now thinks it adds unnecessary volatility.@@@@1@19@@oe@2-2-2013
20585015@unknown@formal@none@1@S@Shearson Lehman, however, executes program trades for clients.@@@@1@8@@oe@2-2-2013
20585016@unknown@formal@none@1@S@Merrill Lynch, Goldman Sachs and Kidder Peabody, in addition to Shearson, do program-trade OTC stocks.@@@@1@15@@oe@2-2-2013
20585017@unknown@formal@none@1@S@Shearson, Merrill Lynch and Goldman Sachs say they do so only for customers, however.@@@@1@14@@oe@2-2-2013
20585018@unknown@formal@none@1@S@Kidder Peabody does program trading for its own as well as clients' accounts.@@@@1@13@@oe@2-2-2013
20585019@unknown@formal@none@1@S@Of course, there were sell programs in past years, too, but they seem to hurt market makers more painfully these days.@@@@1@21@@oe@2-2-2013
20585020@unknown@formal@none@1@S@That's largely because of defensive measures they adopted after the 1987 crash, when individual investors fled the market and trading activity dwindled.@@@@1@22@@oe@2-2-2013
20585021@unknown@formal@none@1@S@Market makers, to cut costs, slashed inventories of stocks they keep on hand to sell investors when other holders aren't selling.@@@@1@21@@oe@2-2-2013
20585022@unknown@formal@none@1@S@And to protect their reduced capital investment from eroding further, market makers became quicker to lower price quotes when sell programs are in progress.@@@@1@24@@oe@2-2-2013
20585023@unknown@formal@none@1@S@On days when prices are tumbling, they must be willing to buy shares from sellers when no one else will.@@@@1@20@@oe@2-2-2013
20585024@unknown@formal@none@1@S@In such an environment, market makers can suffer huge losses both on trades made that day at steadily dropping prices and in the value of their inventories of shares.@@@@1@29@@oe@2-2-2013
20585025@unknown@formal@none@1@S@"It makes no sense for us to put money at risk when you know you're going to lose," says Mr. Antolini, of Donaldson Lufkin.@@@@1@24@@oe@2-2-2013
20585026@unknown@formal@none@1@S@But this skittishness, Mr. Antolini says, is creating liquidity problems in certain OTC stocks.@@@@1@14@@oe@2-2-2013
20585027@unknown@formal@none@1@S@"It's harder to sell stocks when the sell programs come in because some market makers don't want to {take the orders}.@@@@1@21@@oe@2-2-2013
20585028@unknown@formal@none@1@S@No one has big positions and no one wants to take big risks."@@@@1@13@@oe@2-2-2013
20585029@unknown@formal@none@1@S@Joseph Hardiman, president of the National Association of Securities Dealers, which oversees trading on Nasdaq, agrees that program trading is hurting the market's efforts to bring back small investors.@@@@1@29@@oe@2-2-2013
20585030@unknown@formal@none@1@S@But, he observes, while makers suffer losses when program trading drags the market down, they also make money when program trading pushes the prices higher.@@@@1@25@@oe@2-2-2013
20585031@unknown@formal@none@1@S@"Sometimes {traders} lose sight of that," he says.@@@@1@8@@oe@2-2-2013
20585032@unknown@formal@none@1@S@The OTC stocks in the S&P 500 include Nasdaq's biggest, such as Apple Computer, MCI Communications, Tele-Communications and Liz Claiborne.@@@@1@20@@oe@2-2-2013
20585033@unknown@formal@none@1@S@These big stocks greatly influence the Nasdaq Composite Index.@@@@1@9@@oe@2-2-2013
20585034@unknown@formal@none@1@S@When the computers say "sell," the composite tumbles as well as the Dow Jones Industrial Average.@@@@1@16@@oe@2-2-2013
20585035@unknown@formal@none@1@S@The problem, market makers say, is that while the industrial average and the S&P 500 usually recover as buy programs kick in, the Nasdaq Composite frequently is left behind.@@@@1@29@@oe@2-2-2013
20585036@unknown@formal@none@1@S@Eight trading days after Oct. 12, the day before the stock market plunge, for instance, the Nasdaq Composite had fallen 4.3%, compared with 3.3% for the S&P 500, 3.5% for the New York Stock Exchange Composite Index and 3.6% for the industrial average.@@@@1@43@@oe@2-2-2013
20585037@unknown@formal@none@1@S@This gap eventually closes, but slowly.@@@@1@6@@oe@2-2-2013
20585038@unknown@formal@none@1@S@Three days later, as of Friday's close, the Nasdaq Composite was down 6%, compared with 5.9% for the industrial average, 5.7% for the S&P 500 and 5.8% for the Big Board Composite.@@@@1@32@@oe@2-2-2013
20585039@unknown@formal@none@1@S@The main reason for this lag is that individual investors own 65% of the OTC market's capitalization, according to Mr. Hardiman, much more than on the Big Board.@@@@1@28@@oe@2-2-2013
20585040@unknown@formal@none@1@S@Such investors tend to be more cautious than institutional investors are about re-entering the market after massive selloffs, market makers say.@@@@1@21@@oe@2-2-2013
20585041@unknown@formal@none@1@S@Friday's Market Activity@@@@1@3@@oe@2-2-2013
20585042@unknown@formal@none@1@S@The Nasdaq Composite Index tumbled 5.39, or 1.2% to 452.76 on Friday.@@@@1@12@@oe@2-2-2013
20585043@unknown@formal@none@1@S@For the week, the index dropped 3.8%.@@@@1@7@@oe@2-2-2013
20585044@unknown@formal@none@1@S@Weakness in big technology stocks hurt the composite as well as the Nasdaq 100 Index, which fell 1.4%, or 6.43, on Friday, to 437.68.@@@@1@24@@oe@2-2-2013
20585045@unknown@formal@none@1@S@The Nasdaq Financial Index lost about 1%, or 3.95, to 448.80.@@@@1@11@@oe@2-2-2013
20585046@unknown@formal@none@1@S@Friday's trading volume totaled 132.8 million shares.@@@@1@7@@oe@2-2-2013
20585047@unknown@formal@none@1@S@The average daily share turnover for October is almost 148 million shares.@@@@1@12@@oe@2-2-2013
20585048@unknown@formal@none@1@S@LIN Broadcasting surged 4 5/8 to 112 5/8; LIN and BellSouth sweetened their merger agreement in an attempt to keep shareholders from tendering their shares to McCaw Cellular Communications.@@@@1@29@@oe@2-2-2013
20585049@unknown@formal@none@1@S@McCaw, which dropped 2 1/2 to 37 3/4, has offered $125 a share for a majority of LIN's shares.@@@@1@19@@oe@2-2-2013
20585050@unknown@formal@none@1@S@The revised LIN-BellSouth agreement boosts the dollar amount of the special dividend LIN promises to pay shareholders.@@@@1@17@@oe@2-2-2013
20585051@unknown@formal@none@1@S@LIN now plans to dole out $42 a share in cash, up from the earlier $20 amount.@@@@1@17@@oe@2-2-2013
20585052@unknown@formal@none@1@S@Intel eased 1/8 to 31 7/8.@@@@1@6@@oe@2-2-2013
20585053@unknown@formal@none@1@S@The semiconductor concern said the interruption in shipment of its 80486 computer chip will be brief and have little impact on the company's earnings.@@@@1@24@@oe@2-2-2013
20585054@unknown@formal@none@1@S@The stock fell 7/8 Thursday amid concerns over problems discovered with the chip.@@@@1@13@@oe@2-2-2013
20585055@unknown@formal@none@1@S@Intel told analysts that the company will resume shipments of the chips within two to three weeks.@@@@1@17@@oe@2-2-2013
20585056@unknown@formal@none@1@S@Weisfield's rocketed 9 1/2 to 39 after the jewelry store operator said it is in preliminary discussions, with a party it wouldn't identify, regarding the possible acquisition of the company.@@@@1@30@@oe@2-2-2013
20585057@unknown@formal@none@1@S@Starpointe Savings Bank rose 3 to 20 after the Federal Deposit Insurance Corp. approved Dime Savings Bank of New York's $21-a-share acquisition of Starpointe.@@@@1@24@@oe@2-2-2013
20585058@unknown@formal@none@1@S@Kirschner Medical fell 4 to 15.@@@@1@6@@oe@2-2-2013
20585059@unknown@formal@none@1@S@The company said its third-quarter earnings will probably be lower than the 16 cents a share it reported last year, despite a rise in the company's revenue.@@@@1@27@@oe@2-2-2013
20585060@unknown@formal@none@1@S@Kirschner earned $376,000 on revenue of $14.5 million in the 1988 quarter.@@@@1@12@@oe@2-2-2013
20585061@unknown@formal@none@1@S@The company blamed a number of factors for the earnings decline, including softer sales of joint-implants.@@@@1@16@@oe@2-2-2013
20586001@unknown@formal@none@1@S@London share prices closed sharply lower Friday in active trading after Chancellor of the Exchequer Nigel Lawson's resignation slapped the market and Wall Street's rapid initial sell-off knocked it down.@@@@1@30@@oe@2-2-2013
20586002@unknown@formal@none@1@S@London shares were depressed initially by overnight losses in New York and by the drop in sterling after Mr. Lawson's resignation.@@@@1@21@@oe@2-2-2013
20586003@unknown@formal@none@1@S@It showed some early resilience after central bank support firmed sterling, but the weight of Wall Street late in London trading, and signs of further weakness in the British pound, proved a hefty load to bear.@@@@1@36@@oe@2-2-2013
20586004@unknown@formal@none@1@S@New York stocks recovered some of their losses after the London market closed.@@@@1@13@@oe@2-2-2013
20586005@unknown@formal@none@1@S@The Financial Times 100-share index shed 47.3 points to close at 2082.1, down 4.5% from the previous Friday and 6.8% from Oct. 13, when Wall Street's plunge helped spark the current weakness in London.@@@@1@34@@oe@2-2-2013
20586006@unknown@formal@none@1@S@The 30-share index settled 42.0 points lower at 1678.5.@@@@1@9@@oe@2-2-2013
20586007@unknown@formal@none@1@S@Volume was 840.8 million shares, up from 443.6 million Thursday and the week's most active session.@@@@1@16@@oe@2-2-2013
20586008@unknown@formal@none@1@S@Dealers said the turnover, largely confined to the 100-share index stocks, partly reflected the flurry of activity typical at the close of a two-week trading account and the start of a new account.@@@@1@33@@oe@2-2-2013
20586009@unknown@formal@none@1@S@But they said Friday's focus on the top-tier stocks telegraphed active overseas selling and showed the broad-based fears over the status of the U.K. economy and Britain's currency in the wake of the upheaval in Prime Minister Margaret Thatcher's cabinet.@@@@1@40@@oe@2-2-2013
20586010@unknown@formal@none@1@S@A senior dealer with Warburg Securities noted British Gas, the most active blue-chip stock at 20 million shares traded, was affected by the political implications of Mr. Lawson's departure and Mrs. Thatcher's cabinet shuffle.@@@@1@34@@oe@2-2-2013
20586011@unknown@formal@none@1@S@He attributed the unusually high volume to broad-based selling on fears that the Thatcher government may be in turmoil and Britain's Labor Party positioned to regain control of the government and renew efforts at nationalization.@@@@1@35@@oe@2-2-2013
20586012@unknown@formal@none@1@S@British Gas shed 8.5 pence a share to close at 185 pence ($2.90).@@@@1@13@@oe@2-2-2013
20586013@unknown@formal@none@1@S@Other dealers added that the blue-chip stocks in general were hit by profit-taking over concerns that London shares will continue posting declines and the uncertainty over sterling given that Mr. Lawson's successor, John Major, had only been in the job one day.@@@@1@42@@oe@2-2-2013
20586014@unknown@formal@none@1@S@Besides British Gas, British Steel skidded 1.74 to 123.5 on turnover of 11 million shares.@@@@1@15@@oe@2-2-2013
20586015@unknown@formal@none@1@S@British Petroleum fell 5 to 286 on 14 million shares traded.@@@@1@11@@oe@2-2-2013
20586016@unknown@formal@none@1@S@Dealers said the multinational oil company was pressured by recent brokerage recommendations urging investors to switch into Shell Trading & Transport.@@@@1@21@@oe@2-2-2013
20586017@unknown@formal@none@1@S@Shell eased 1 to 416 on turnover of 4.8 million shares.@@@@1@11@@oe@2-2-2013
20586018@unknown@formal@none@1@S@Among the other actively traded blue-chip issues, Imperial Chemical Industries dropped 11 to #10.86, Hanson skidded 9.5 to 200.5, and British Telecom fell 10 to 250.@@@@1@26@@oe@2-2-2013
20586019@unknown@formal@none@1@S@In Tokyo, stocks closed lower but above intraday lows in active trading.@@@@1@12@@oe@2-2-2013
20586020@unknown@formal@none@1@S@The Nikkei index was pressured down by profit-taking triggered by sharp advances made through this week and fell 151.20 points to 35527.29.@@@@1@22@@oe@2-2-2013
20586021@unknown@formal@none@1@S@In early trading in Tokyo Monday, the Nikkei index fell 148.85 points to 35378.44.@@@@1@14@@oe@2-2-2013
20586022@unknown@formal@none@1@S@On Friday, the Tokyo stock price index of first section issues was down 15.82 at 2681.76.@@@@1@16@@oe@2-2-2013
20586023@unknown@formal@none@1@S@First-section volume was estimated at 1.3 billion shares, up from 886 million shares Thursday.@@@@1@14@@oe@2-2-2013
20586024@unknown@formal@none@1@S@An official at Wako Securities said brokerages' excessive expectations about recent advances in Tokyu Group shares and real estate issues were dashed Friday.@@@@1@23@@oe@2-2-2013
20586025@unknown@formal@none@1@S@Dealers placed heavy buy orders in the morning to start the first trading day for November transactions.@@@@1@17@@oe@2-2-2013
20586026@unknown@formal@none@1@S@But they failed to sell these stocks to client investors, who were cautious about the sharp gains these issues made this week, the Wako official said.@@@@1@26@@oe@2-2-2013
20586027@unknown@formal@none@1@S@Fund managers said Friday's profittaking was a natural result of the week's "abnormal fever" in buying real estate, shipbuilding, steel and construction shares.@@@@1@23@@oe@2-2-2013
20586028@unknown@formal@none@1@S@Frankfurt prices closed lower again Friday, the fourth decline in the past five days and the culmination of a week that saw the DAX index lose 4%.@@@@1@27@@oe@2-2-2013
20586029@unknown@formal@none@1@S@The DAX dropped 19.69 points Friday to 1462.93.@@@@1@8@@oe@2-2-2013
20586030@unknown@formal@none@1@S@Traders said the continued turbulence in other markets, coupled with the drop in London following the Lawson resignation, were responsible.@@@@1@20@@oe@2-2-2013
20586031@unknown@formal@none@1@S@Traders said that selling pressure wasn't enormous and that the DAX dropped Friday more on a lack of any substantial buying interest.@@@@1@22@@oe@2-2-2013
20586032@unknown@formal@none@1@S@They said contributing to the downward drift was the fact that many professional traders had chosen to square positions ahead of the weekend.@@@@1@23@@oe@2-2-2013
20586033@unknown@formal@none@1@S@"It's the whole uncertainty about what's happening around us," said Valentin Von Korff, a trader at Credit Suisse First Boston in Frankfurt.@@@@1@22@@oe@2-2-2013
20586034@unknown@formal@none@1@S@"If you take away the outside influences, the market itself looks very cheap.@@@@1@13@@oe@2-2-2013
20586035@unknown@formal@none@1@S@What's happening here isn't justified by the fundamentals."@@@@1@8@@oe@2-2-2013
20586036@unknown@formal@none@1@S@Traders said the market remains extremely nervous because of the wild swings seen on the New York Stock Exchange last week.@@@@1@21@@oe@2-2-2013
20586037@unknown@formal@none@1@S@That's leaving small investors with cold feet, they said, and prompting institutions to take a reserved stance on the sidelines as well, at least until the market in New York settles down somewhat.@@@@1@33@@oe@2-2-2013
20586038@unknown@formal@none@1@S@Elsewhere, share prices closed lower in Paris, Zurich, Amsterdam, Brussels and Stockholm, and were mixed in Milan.@@@@1@17@@oe@2-2-2013
20586039@unknown@formal@none@1@S@The British shakeup was widely cited for the declines.@@@@1@9@@oe@2-2-2013
20586040@unknown@formal@none@1@S@Share prices also closed lower in Sydney, Hong Kong, Singapore, Taipei, Manila, Wellington and Seoul.@@@@1@15@@oe@2-2-2013
20586041@unknown@formal@none@1@S@Concern about declines in other markets, especially New York, caused selling pressure.@@@@1@12@@oe@2-2-2013
20586042@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
20586043@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
20586044@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
20586045@unknown@formal@none@1@S@Last week's best and worst performing stocks among those issues that make up 80% of the world's stock market capitalization (in local currency)@@@@1@23@@oe@2-2-2013
20586046@unknown@formal@none@1@S@Source: Morgan Stanley Capital Intl.@@@@1@5@@oe@2-2-2013
20587001@unknown@formal@none@1@S@APARTHEID FOES STAGED a massive anti-government rally in South Africa.@@@@1@10@@oe@2-2-2013
20587002@unknown@formal@none@1@S@More than 70,000 people filled a soccer stadium on the outskirts of the black township of Soweto and welcomed freed leaders of the outlawed African National Congress.@@@@1@27@@oe@2-2-2013
20587003@unknown@formal@none@1@S@It was considered South Africa's largest opposition rally.@@@@1@8@@oe@2-2-2013
20587004@unknown@formal@none@1@S@Walter Sisulu, the ANC's former secretary general who served 26 years in prison before being released two weeks ago, urged peace, negotiation and discipline.@@@@1@24@@oe@2-2-2013
20587005@unknown@formal@none@1@S@President de Klerk's government permitted the rally, and security forces didn't interfere.@@@@1@12@@oe@2-2-2013
20587006@unknown@formal@none@1@S@Pretoria's approval of the demonstration and the ANC's conciliatory tone appeared aimed at setting up negotiations to give blacks political rights.@@@@1@21@@oe@2-2-2013
20587007@unknown@formal@none@1@S@CONGRESSIONAL LEADERS BACKED Bush's criticism of Nicaragua's Ortega.@@@@1@8@@oe@2-2-2013
20587008@unknown@formal@none@1@S@While lawmakers haven't raised the possibility of renewing military aid to the Contras following Ortega's weekend threat to end a truce, Senate Majority Leader Mitchell said on NBC-TV that Ortega had made "a very unwise move.@@@@1@36@@oe@2-2-2013
20587009@unknown@formal@none@1@S@" Minority Leader Dole plans to offer a resolution tomorrow denouncing the Nicaraguan president, whose remarks came during a celebration in Costa Rica marking regional moves to democracy.@@@@1@28@@oe@2-2-2013
20587010@unknown@formal@none@1@S@Ortega cited renewed attacks by the U.S.backed rebels.@@@@1@8@@oe@2-2-2013
20587011@unknown@formal@none@1@S@Lawmakers must decide next month whether the Contras will get so-called humanitarian aid under a bipartisan agreement reached in March.@@@@1@20@@oe@2-2-2013
20587012@unknown@formal@none@1@S@Spain's Socialist Party claimed victory in nationwide elections, saying it had retained its parliamentary majority by one seat.@@@@1@18@@oe@2-2-2013
20587013@unknown@formal@none@1@S@With all the votes counted, a government spokesman said Prime Minister Gonzalez's party won 176 seats in the 350-seat Cortes, or lower house of parliament.@@@@1@25@@oe@2-2-2013
20587014@unknown@formal@none@1@S@The Socialists held 184 seats going into the balloting.@@@@1@9@@oe@2-2-2013
20587015@unknown@formal@none@1@S@Thousands of East Germans attended public rallies organized by the Communist leadership and demanded free speech, controls on the security forces and an end to official privileges.@@@@1@27@@oe@2-2-2013
20587016@unknown@formal@none@1@S@The gatherings in East Berlin and elsewhere were viewed as part of a government effort to stop activists from staging protests to press their demands.@@@@1@25@@oe@2-2-2013
20587017@unknown@formal@none@1@S@Dissidents in Czechoslovakia said the nation's pro-democracy movement was growing despite the government's move to crush a protest Saturday in Prague's Wenceslas Square.@@@@1@23@@oe@2-2-2013
20587018@unknown@formal@none@1@S@More than 10,000 demonstrators had called for free elections and the resignation of Communist Party leader Milos Jakes.@@@@1@18@@oe@2-2-2013
20587019@unknown@formal@none@1@S@Police detained more than 350 people.@@@@1@6@@oe@2-2-2013
20587020@unknown@formal@none@1@S@Federal investigators have determined a metallurgical flaw that developed during the making of an engine disk led to the July crash of a United Airlines jetliner in Sioux City, Iowa, killing 112 people.@@@@1@33@@oe@2-2-2013
20587021@unknown@formal@none@1@S@Congress sent to Bush an $8.5 billion military construction bill that cuts spending for new installations by 16%.@@@@1@18@@oe@2-2-2013
20587022@unknown@formal@none@1@S@The measure also moves more than $450 million in the Pentagon budget to home-state projects from foreign bases.@@@@1@18@@oe@2-2-2013
20587023@unknown@formal@none@1@S@U.S. and Soviet officials are to open a new round of talks today aimed at reducing chemical-weapons arsenals amid superpower differences over whether to stop making the gases.@@@@1@28@@oe@2-2-2013
20587024@unknown@formal@none@1@S@The talks in New York are the first since Bush and Soviet Foreign Minister Shevardnadze unveiled proposals in September to scrap existing weapons.@@@@1@23@@oe@2-2-2013
20587025@unknown@formal@none@1@S@Afghan guerrillas bombarded Kabul in a weekend assault that Western diplomats called one of the biggest offensives since the Soviet Union completed a troop withdrawal in February.@@@@1@27@@oe@2-2-2013
20587026@unknown@formal@none@1@S@The rebels also reportedly tightened a blockade on roads leading to the capital, and government forces shelled a guerrilla-held area in western Afghanistan.@@@@1@23@@oe@2-2-2013
20587027@unknown@formal@none@1@S@Lebanon's Christian leader convened an emergency meeting of his cabinet after indications that he might dissolve Parliament in an attempt to scuttle an Arab-sponsored peace plan.@@@@1@26@@oe@2-2-2013
20587028@unknown@formal@none@1@S@Gen. Michel Aoun rejected the pact because it fails to provide a timetable for a Syrian troop pullout from Lebanon.@@@@1@20@@oe@2-2-2013
20587029@unknown@formal@none@1@S@Authorities in Hawaii said the wreckage of a missing commuter plane with 20 people aboard was spotted in a remote valley on the island of Molokai.@@@@1@26@@oe@2-2-2013
20587030@unknown@formal@none@1@S@There wasn't any evidence of survivors.@@@@1@6@@oe@2-2-2013
20587031@unknown@formal@none@1@S@The plane failed to reach Molokai's airport Saturday while on a flight from the neighboring island of Maui.@@@@1@18@@oe@2-2-2013
20587032@unknown@formal@none@1@S@The Oakland Athletics won baseball's World Series, defeating the San Francisco Giants in a four-game sweep.@@@@1@16@@oe@2-2-2013
20587033@unknown@formal@none@1@S@An earthquake Oct. 17 in Northern California had caused a 10-day delay midway through the championship contest, which ended Saturday at San Francisco's Candlestick Park.@@@@1@25@@oe@2-2-2013
20587034@unknown@formal@none@1@S@Died: Rudolf von Bennigsen-Foerder, 63, chairman of Veba AG of West Germany, in Duesseldorf, of pneumonia.@@@@1@16@@oe@2-2-2013
20588001@unknown@formal@none@1@S@The West German machinery and plant equipment industry's orders rose an inflation-adjusted 1% in September from a year earlier despite a sharp drop in foreign orders, the German Association of Machinery Makers said.@@@@1@33@@oe@2-2-2013
20588002@unknown@formal@none@1@S@Before adjustment for inflation, the association said, orders were up a nominal 5%.@@@@1@13@@oe@2-2-2013
20588003@unknown@formal@none@1@S@While domestic orders climbed an adjusted 8% and a nominal 11% in September, foreign orders declined 4% after inflation and 1% on a nominal basis.@@@@1@25@@oe@2-2-2013
20588004@unknown@formal@none@1@S@In the third quarter, orders rose a real 5% and a nominal 9%.@@@@1@13@@oe@2-2-2013
20588005@unknown@formal@none@1@S@Domestic orders were up a real 11% and a nominal 14%, while foreign orders rose a real 1% and a nominal 5%.@@@@1@22@@oe@2-2-2013
20589001@unknown@formal@none@1@S@When Michael S. Perry took the podium at a recent cosmetics industry event, more than 500 executives packing the room snapped to attention.@@@@1@23@@oe@2-2-2013
20589002@unknown@formal@none@1@S@Mr. Perry, who runs Unilever Group's world-wide personal-care business, paused to scan the crowd.@@@@1@14@@oe@2-2-2013
20589003@unknown@formal@none@1@S@"I see we have about half the audience working for us," he said, tongue in cheek.@@@@1@16@@oe@2-2-2013
20589004@unknown@formal@none@1@S@"The other half, we may have before long."@@@@1@8@@oe@2-2-2013
20589005@unknown@formal@none@1@S@Members of the audience gasped or laughed nervously; their industry has been unsettled recently by acquisitions.@@@@1@16@@oe@2-2-2013
20589006@unknown@formal@none@1@S@First Unilever, the Anglo-Dutch packaged-goods giant, spent $2 billion to acquire brands such as Faberge and Elizabeth Arden.@@@@1@18@@oe@2-2-2013
20589007@unknown@formal@none@1@S@It now holds the No. 3 position at U.S. department-store cosmetic counters.@@@@1@12@@oe@2-2-2013
20589008@unknown@formal@none@1@S@Then Procter & Gamble Co. agreed to buy Noxell Corp. for $1.3 billion.@@@@1@13@@oe@2-2-2013
20589009@unknown@formal@none@1@S@That acquisition, to be completed by year end, will include the Cover Girl and Clarion makeup lines, making P&G the top marketer of cosmetics in mass-market outlets.@@@@1@27@@oe@2-2-2013
20589010@unknown@formal@none@1@S@It's not so much the idea of acquisitions that has agitated the cosmetics industry as the companies doing the acquiring: P&G and Unilever bring with them great experience with mundane products like soap and toilet paper, sparking disdain in the glitzy cosmetics trade; but they also bring mammoth marketing clout, sparking fear.@@@@1@52@@oe@2-2-2013
20589011@unknown@formal@none@1@S@Though it is far from certain that companies best known for selling Promise margarine and Tide detergent will succeed in cosmetics, there's little doubt they will shake up the industry.@@@@1@30@@oe@2-2-2013
20589012@unknown@formal@none@1@S@For now, both companies are keeping quiet about their specific plans.@@@@1@11@@oe@2-2-2013
20589013@unknown@formal@none@1@S@But industry watchers expect them to blend the methodical marketing strategies they use for more mundane products with the more intuitive approach typical of cosmetics companies.@@@@1@26@@oe@2-2-2013
20589014@unknown@formal@none@1@S@Likely changes include more emphasis on research, soaring advertising budgets and aggressive pricing.@@@@1@13@@oe@2-2-2013
20589015@unknown@formal@none@1@S@But some cosmetics-industry executives wonder whether techniques honed in packaged goods will translate to the cosmetics business.@@@@1@17@@oe@2-2-2013
20589016@unknown@formal@none@1@S@Estee Lauder Inc., Revlon Inc. and other cosmetics houses traditionally have considered themselves fashion enterprises whose product development is guided by the creative intuition of their executives.@@@@1@27@@oe@2-2-2013
20589017@unknown@formal@none@1@S@Cosmetics companies roll out new makeup colors several times a year, and since most products can be easily copied by competitors, they're loath to test them with consumers.@@@@1@28@@oe@2-2-2013
20589018@unknown@formal@none@1@S@"Just because upscale cosmetics look like packaged goods and smell like packaged goods, it doesn't mean they are packaged goods," says Leonard Lauder, chief executive of Estee Lauder.@@@@1@28@@oe@2-2-2013
20589019@unknown@formal@none@1@S@"They're really fashion items wrapped up in little jars."@@@@1@9@@oe@2-2-2013
20589020@unknown@formal@none@1@S@In contrast to the more artistic nature of traditional cosmetics houses, Unilever and P&G are the habitats of organization men in gray-flannel suits.@@@@1@23@@oe@2-2-2013
20589021@unknown@formal@none@1@S@Both companies are conservative marketers that rely on extensive market research.@@@@1@11@@oe@2-2-2013
20589022@unknown@formal@none@1@S@P&G, in particular, rarely rolls out a product nationally before extensive test-marketing.@@@@1@12@@oe@2-2-2013
20589023@unknown@formal@none@1@S@Both can be extremely aggressive at pricing such products as soaps and diapers -- to the extent that some industry consultants predict cents-off coupons for mascara could result from their entry into the field.@@@@1@34@@oe@2-2-2013
20589024@unknown@formal@none@1@S@P&G already has shown it can meld some traditional packaged-goods techniques with the image-making of the cosmetics trade in the mass-market end of the business.@@@@1@25@@oe@2-2-2013
20589025@unknown@formal@none@1@S@Consider Oil of Olay, which P&G acquired as part of Richardson-Vicks International in 1985.@@@@1@14@@oe@2-2-2013
20589026@unknown@formal@none@1@S@The moisturizer, introduced in 1962, had a dowdy image.@@@@1@9@@oe@2-2-2013
20589027@unknown@formal@none@1@S@"Oil of Olay brought with it the baggage of being used basically by older women who had already aged," says David Williams, a consultant with New England Consulting Group.@@@@1@29@@oe@2-2-2013
20589028@unknown@formal@none@1@S@P&G set out to reposition the brand by broadening the product line to include facial cleansers and moisturizers for sensitive skin.@@@@1@21@@oe@2-2-2013
20589029@unknown@formal@none@1@S@It also redesigned Oil of Olay's packaging, stamping the traditional pink boxes with gold lines to create a more opulent look.@@@@1@21@@oe@2-2-2013
20589030@unknown@formal@none@1@S@Moreover, P&G shifted its ad campaign from one targeting older women to one featuring a woman in her mid-30s vowing "not to grow old gracefully."@@@@1@25@@oe@2-2-2013
20589031@unknown@formal@none@1@S@The company says sales have soared.@@@@1@6@@oe@2-2-2013
20589032@unknown@formal@none@1@S@Goliaths like Unilever and P&G have enormous financial advantages over smaller rivals.@@@@1@12@@oe@2-2-2013
20589033@unknown@formal@none@1@S@Next year, Noxell plans to roll out a perfume called Navy, says George L. Bunting Jr., chairman of Noxell.@@@@1@19@@oe@2-2-2013
20589034@unknown@formal@none@1@S@Without P&G's backing, Noxell might not have been able to spend the estimated $5 million to $7 million needed to accomplish that without scrimping on its existing brands.@@@@1@28@@oe@2-2-2013
20589035@unknown@formal@none@1@S@Packaged-goods companies "will make it tougher for smaller people to remain competitive," Mr. Bunting says.@@@@1@15@@oe@2-2-2013
20589036@unknown@formal@none@1@S@Further consolidations in the industry could follow.@@@@1@7@@oe@2-2-2013
20589037@unknown@formal@none@1@S@Rumors that Unilever is interested in acquiring Schering-Plough Corp.'s Maybelline unit are widespread.@@@@1@13@@oe@2-2-2013
20589038@unknown@formal@none@1@S@Unilever won't comment; Schering, however, denies the brand is for sale.@@@@1@11@@oe@2-2-2013
20589039@unknown@formal@none@1@S@The presence of Unilever and P&G is likely to increase the impact of advertising on cosmetics.@@@@1@16@@oe@2-2-2013
20589040@unknown@formal@none@1@S@While the two are among the world's biggest advertisers, most makers of upscale cosmetics spend relatively little on national ads.@@@@1@20@@oe@2-2-2013
20589041@unknown@formal@none@1@S@Instead, they focus on events in department stores and pour their promotional budgets into gifts that go along with purchases.@@@@1@20@@oe@2-2-2013
20589042@unknown@formal@none@1@S@Estee Lauder, for example, spends only an estimated 5% of sales on advertising in the U.S., and Mr. Lauder says he has no plans to change his strategy.@@@@1@28@@oe@2-2-2013
20589043@unknown@formal@none@1@S@The most dramatic changes, however, probably will come in new-product development.@@@@1@11@@oe@2-2-2013
20589044@unknown@formal@none@1@S@Nearly 70% of cosmetics sales come through mass-distribution outlets such as drug stores and supermarkets, according to Andrew Shore, an analyst at Shearson Lehman Hutton Inc.@@@@1@26@@oe@2-2-2013
20589045@unknown@formal@none@1@S@That figure has been inching up for several years.@@@@1@9@@oe@2-2-2013
20589046@unknown@formal@none@1@S@As the trend continues, demand for mass-market items that are high quality but only mid-priced -- particularly skin-care products -- is expected to increase.@@@@1@24@@oe@2-2-2013
20589047@unknown@formal@none@1@S@This fall, for example, L'Oreal Group, ordinarily a high-end line, rolled out a drug-store line of skin-care products called Plenitude, which retail for $5 to $15.@@@@1@26@@oe@2-2-2013
20589048@unknown@formal@none@1@S@The packaged-goods marketers may try filling that gap with a spate of new products.@@@@1@14@@oe@2-2-2013
20589049@unknown@formal@none@1@S@Unlike the old-line cosmetics houses, Unilever and P&G both have enormous research and development bases to draw on for new products.@@@@1@21@@oe@2-2-2013
20589050@unknown@formal@none@1@S@P&G, in fact, is noted for gaining market leadership by introducing products that offer a technical edge over the competition.@@@@1@20@@oe@2-2-2013
20589051@unknown@formal@none@1@S@Sales of its Tide detergent soared earlier this year, for example, after P&G introduced a version that includes a bleach safe for all colors and fabrics.@@@@1@26@@oe@2-2-2013
20589052@unknown@formal@none@1@S@That's led industry executives to speculate that future product development will be driven more by technological innovation than by fashion whims -- especially among mass-market brands.@@@@1@26@@oe@2-2-2013
20589053@unknown@formal@none@1@S@"There will be more emphasis on quality," says Guy Peyrelongue, chief executive of Cosmair Inc., the U.S. licensee of L'Oreal.@@@@1@20@@oe@2-2-2013
20589054@unknown@formal@none@1@S@"You'll see fewer gimmicks."@@@@1@4@@oe@2-2-2013
20589055@unknown@formal@none@1@S@But success for Unilever and P&G is far from guaranteed, as shown by the many consumer-product companies that have tried and failed to master the quirky beauty business.@@@@1@28@@oe@2-2-2013
20589056@unknown@formal@none@1@S@In the 1970s, several pharmaceutical and packaged-goods companies, including Colgate-Palmolive Co., Eli Lilly & Co., Pfizer Inc. and Schering-Plough acquired cosmetics companies.@@@@1@22@@oe@2-2-2013
20589057@unknown@formal@none@1@S@Industry consultants say only Schering-Plough, which makes the mass-market Maybelline, has maintained a meaningful business.@@@@1@15@@oe@2-2-2013
20589058@unknown@formal@none@1@S@Colgate, which acquired Helena Rubenstein in 1973, sold the brand seven years later after the brand languished.@@@@1@17@@oe@2-2-2013
20589059@unknown@formal@none@1@S@Unilever already has experienced some disappointment.@@@@1@6@@oe@2-2-2013
20589060@unknown@formal@none@1@S@The mass-market Aziza brand, which it acquired in 1987 along with Chesebrough-Pond's Inc., has lost share, according to industry analysts.@@@@1@20@@oe@2-2-2013
20589061@unknown@formal@none@1@S@The ritzy world of department-store cosmetics retailing, where Unilever is concentrating its efforts, may prove even more treacherous.@@@@1@18@@oe@2-2-2013
20589062@unknown@formal@none@1@S@In this niche, makeup colors change seasonally because they are linked to ready-to-wear fashions.@@@@1@14@@oe@2-2-2013
20589063@unknown@formal@none@1@S@Because brand loyalty is weak and most cosmetics purchases are unplanned, careful training of store sales staffs by cosmetics companies is important.@@@@1@22@@oe@2-2-2013
20589064@unknown@formal@none@1@S@And cultivating a luxury image strong enough to persuade consumers to pay more than $15 for lipstick or eye makeup requires a subtle touch that packaged-goods companies have yet to demonstrate on their own.@@@@1@34@@oe@2-2-2013
20590001@unknown@formal@none@1@S@There may be a truce in the long war of nerves between the White House and Congress over how this country conducts secret intelligence operations abroad.@@@@1@26@@oe@2-2-2013
20590002@unknown@formal@none@1@S@After years of mistrust born of Watergate, past misdeeds of the Central Intelligence Agency, and the Iran-Contra scandal, President Bush and the Senate Intelligence Committee appear ready -- for now, at least -- to trust each other when it comes to setting policy on covert activities.@@@@1@46@@oe@2-2-2013
20590003@unknown@formal@none@1@S@If that attitude lasts, it could infuse covert action planning with a level of care and confidence that hasn't been seen in years.@@@@1@23@@oe@2-2-2013
20590004@unknown@formal@none@1@S@Over the past week, the president has agreed to keep the committee informed, usually in advance, of covert actions and to put key intelligence decisions in writing.@@@@1@27@@oe@2-2-2013
20590005@unknown@formal@none@1@S@That wasn't always the way the Reagan administration handled such matters.@@@@1@11@@oe@2-2-2013
20590006@unknown@formal@none@1@S@Mr. Bush has pledged as well to respect the 14-year-old executive order barring U.S. agents from assassinating foreign leaders or helping others to do so.@@@@1@25@@oe@2-2-2013
20590007@unknown@formal@none@1@S@Congress never fully trusted former CIA chief William Casey and National Security Adviser John Poindexter to honor the ban.@@@@1@19@@oe@2-2-2013
20590008@unknown@formal@none@1@S@Despite objections by the CIA, Mr. Bush also has agreed to the establishment of an inspector general at the CIA who would be independent of the CIA director.@@@@1@28@@oe@2-2-2013
20590009@unknown@formal@none@1@S@In return, the Senate panel has dropped efforts to enact legislation requiring the administration to inform it within 48 hours of the launching of any covert activity.@@@@1@27@@oe@2-2-2013
20590010@unknown@formal@none@1@S@It also has removed a ban on CIA use of a contingency fund for covert acts and has agreed to wipe away some tortured and legalistic restrictions on coup planning put in place to ensure that the CIA didn't get back in the assassination game.@@@@1@45@@oe@2-2-2013
20590011@unknown@formal@none@1@S@"We've finally been able to convince them that Casey and {Oliver} North don't work here anymore," says one administration official.@@@@1@20@@oe@2-2-2013
20590012@unknown@formal@none@1@S@The new understanding didn't just spring to life in a spontaneous eruption of sweetness and light.@@@@1@16@@oe@2-2-2013
20590013@unknown@formal@none@1@S@It emerged after a rancorous display of old-style intelligence politics that followed this month's failed coup attempt in Panama.@@@@1@19@@oe@2-2-2013
20590014@unknown@formal@none@1@S@The White House used television appearances and leaks to argue that congressionally imposed restrictions on covert actions made U.S. support for such coups difficult.@@@@1@24@@oe@2-2-2013
20590015@unknown@formal@none@1@S@Mr. Bush even disclosed privately that one Reagan-era deal with Congress required him to notify the odious Panamanian dictator, Manuel Noriega, if the U.S. learned of a coup plot that might endanger his life.@@@@1@34@@oe@2-2-2013
20590016@unknown@formal@none@1@S@The president also hinted he might veto this year's intelligence authorization bill if it is too restrictive.@@@@1@17@@oe@2-2-2013
20590017@unknown@formal@none@1@S@Intelligence Committee Chairman David Boren (D., Okla.) and Vice Chairman William Cohen (R., Maine), for their part, angrily accused the White House of selectively leaking classified documents and trying unfairly to shift the blame to Congress for the bungled attempt to topple Gen. Noriega.@@@@1@44@@oe@2-2-2013
20590018@unknown@formal@none@1@S@The White House got the better of the exchange but took care not to press its advantage to the kind of constitutional confrontation sought by conservative Republicans who don't want any congressional oversight of intelligence activities.@@@@1@36@@oe@2-2-2013
20590019@unknown@formal@none@1@S@Instead, Mr. Bush and his aides made it clear they respected Congress's role and felt they could work with the conservative Mr. Boren and the moderate Mr. Cohen to iron out their differences.@@@@1@33@@oe@2-2-2013
20590020@unknown@formal@none@1@S@The senators responded in kind.@@@@1@5@@oe@2-2-2013
20590021@unknown@formal@none@1@S@Sen. Boren happily told reporters that there had been "a meeting of the minds" with the White House, and that the committee had given Mr. Bush "a clean slate," free of the impediments imposed during the Reagan years.@@@@1@38@@oe@2-2-2013
20590022@unknown@formal@none@1@S@Sen. Cohen said the relationship has reverted to its pre-Reagan character.@@@@1@11@@oe@2-2-2013
20590023@unknown@formal@none@1@S@There still are some details to be nailed down.@@@@1@9@@oe@2-2-2013
20590024@unknown@formal@none@1@S@Mr. Bush is reserving the right in "rare" instances to keep Congress in the dark, asserting a constitutional prerogative the committee doesn't recognize.@@@@1@23@@oe@2-2-2013
20590025@unknown@formal@none@1@S@And a pending Justice Department interpretation of the assassination ban could raise questions that would have to be settled.@@@@1@19@@oe@2-2-2013
20590026@unknown@formal@none@1@S@Moreover, both sides may face political critics.@@@@1@7@@oe@2-2-2013
20590027@unknown@formal@none@1@S@Some conservatives will accuse the president of promising Congress too much.@@@@1@11@@oe@2-2-2013
20590028@unknown@formal@none@1@S@And they continue anonymously attacking CIA Director William Webster for being too accommodating to the committee.@@@@1@16@@oe@2-2-2013
20590029@unknown@formal@none@1@S@At the same time, some congressional liberals will accuse Sens. Boren and Cohen of wimping out, and they will warn that the lawmakers' concessions raise the specter of more internationally embarrassing covert operations like the mining of Nicaraguan harbors and the Iran arms sales.@@@@1@44@@oe@2-2-2013
20590030@unknown@formal@none@1@S@But if the cooperative attitude holds and there is greater consultation on covert activities, the country could be entering an era when such hare-brained schemes are scrapped before they get off the drawing boards, while risky but well-planned secret operations can be undertaken without fear that a panicky Congress will balk.@@@@1@51@@oe@2-2-2013
20591001@unknown@formal@none@1@S@Several of the New York Stock Exchange's own listed companies, led by giant Contel Corp., are joining for the first time to complain about program trading and the exchange's role in it.@@@@1@32@@oe@2-2-2013
20591002@unknown@formal@none@1@S@Claiming program trading has turned the Big Board into a "gambling casino," Contel Chairman Charles Wohlstetter said that he and at least 20 other corporate executives are forming an unprecedented alliance.@@@@1@31@@oe@2-2-2013
20591003@unknown@formal@none@1@S@The group, Mr. Wohlstetter said in an interview, wants to end the market's wild price swings that critics blame on computer-aided program-trading strategies.@@@@1@23@@oe@2-2-2013
20591004@unknown@formal@none@1@S@The group will complain to Washington, to the heads of program-trading firms and to the heads of the Big Board itself, he said.@@@@1@23@@oe@2-2-2013
20591005@unknown@formal@none@1@S@"They should call {the exchange} Trump East," charged Mr. Wohlstetter, the 79-year-old founder of Contel who's also a former investment banker and stock trader.@@@@1@24@@oe@2-2-2013
20591006@unknown@formal@none@1@S@"What is the mission of the financial community --@@@@1@9@@oe@2-2-2013
20591007@unknown@formal@none@1@S@to help some scavengers or schemers, or help corporate America?"@@@@1@10@@oe@2-2-2013
20591008@unknown@formal@none@1@S@Contel is a $6 billion telephone and electronics company.@@@@1@9@@oe@2-2-2013
20591009@unknown@formal@none@1@S@Pressure has been building on the Big Board in the past two weeks to do something about market volatility, which many investors say is caused by program trading.@@@@1@28@@oe@2-2-2013
20591010@unknown@formal@none@1@S@The market's Friday-the-13th plunge of 190 points in the Dow Jones Industrial Average, and the Big Board's understated response to it, galvanized some longstanding dissatisfaction among companies listed on the exchange.@@@@1@31@@oe@2-2-2013
20591011@unknown@formal@none@1@S@Last month, program trading accounted for a record 13.8% of average daily Big Board volume.@@@@1@15@@oe@2-2-2013
20591012@unknown@formal@none@1@S@Mr. Wohlstetter, for example, said he wrote to Big Board Chairman John J. Phelan Jr. about program trading after the 190-point Dow plunge, and as in previous queries, "what I get back is gobbledygook."@@@@1@34@@oe@2-2-2013
20591013@unknown@formal@none@1@S@He said he's upset that Mr. Phelan, trying to calm investors after the plunge, said that investors would simply have to get used to the market's big price swings.@@@@1@29@@oe@2-2-2013
20591014@unknown@formal@none@1@S@The Big Board "is partly to blame {for the price swings}, because they're cowards," said Mr. Wohlstetter.@@@@1@17@@oe@2-2-2013
20591015@unknown@formal@none@1@S@"Their powerful members manage them."@@@@1@5@@oe@2-2-2013
20591016@unknown@formal@none@1@S@The focus of the outcry has been stock-index arbitrage, which accounts for about half the program trading that goes on.@@@@1@20@@oe@2-2-2013
20591017@unknown@formal@none@1@S@Index arbitragers argue that their trading is healthy because it links markets, but critics say such trading accelerates market movements and increases the chance for a crash.@@@@1@27@@oe@2-2-2013
20591018@unknown@formal@none@1@S@The Big Board has refused to be drawn into a public debate about program trading.@@@@1@15@@oe@2-2-2013
20591019@unknown@formal@none@1@S@Richard Grasso, Big Board president, last week said only that the exchange is concerned about all its constituents.@@@@1@18@@oe@2-2-2013
20591020@unknown@formal@none@1@S@Privately, exchange officials worry that without a hospitable system for program trading at the Big Board, billions of dollars in trading will simply migrate to overseas exchanges such as London's.@@@@1@30@@oe@2-2-2013
20591021@unknown@formal@none@1@S@It is partly for this reason that the exchange last week began trading in its own stock "basket" product that allows big investors to buy or sell all 500 stocks in the Standard & Poor's index in a single trade.@@@@1@40@@oe@2-2-2013
20591022@unknown@formal@none@1@S@One intended customer of the new basket product is index arbitragers, according to the exchange.@@@@1@15@@oe@2-2-2013
20591023@unknown@formal@none@1@S@Investors have complained for some time about program trading, particularly index arbitrage, to little avail.@@@@1@15@@oe@2-2-2013
20591024@unknown@formal@none@1@S@But according to some Big Board traders, an organized campaign from exchange-listed companies might make the exchange finally consider big changes.@@@@1@21@@oe@2-2-2013
20591025@unknown@formal@none@1@S@"They won't fight the listed companies.@@@@1@6@@oe@2-2-2013
20591026@unknown@formal@none@1@S@Now the assault is on," said one top trader.@@@@1@9@@oe@2-2-2013
20591027@unknown@formal@none@1@S@The Big Board can't ban stock-index futures, of course, but it could ban use of its high-speed electronic trading system for program trading or at least encourage securities firms to back off.@@@@1@32@@oe@2-2-2013
20591028@unknown@formal@none@1@S@The exchange put a bit of a damper on program trading when, last year, it simply started to publish monthly statistics of each firm's program-trading volume.@@@@1@26@@oe@2-2-2013
20591029@unknown@formal@none@1@S@Contel's Mr. Wohlstetter said the group of Big Board companies isn't ready to go public yet with its effort, and that he doesn't plan to be the leader once it is public.@@@@1@32@@oe@2-2-2013
20591030@unknown@formal@none@1@S@However, he said he planned to spend the weekend making calls to gather additional support.@@@@1@15@@oe@2-2-2013
20591031@unknown@formal@none@1@S@Among those Mr. Wohlstetter said he has been talking to are Sanford Weill of Primerica Corp., which is the parent of Smith Barney, Harris Upham & Co.; GTE Corp.'s James Johnson, and ITT Corp.'s Rand Araskog.@@@@1@36@@oe@2-2-2013
20591032@unknown@formal@none@1@S@None of these chief executives were available for comment.@@@@1@9@@oe@2-2-2013
20591033@unknown@formal@none@1@S@Among the targets of the Big Board companies' campaign will be some corporate pension funds that use program-trading strategies to maximize returns on their investments.@@@@1@25@@oe@2-2-2013
20591034@unknown@formal@none@1@S@For Contel's part, the company a month ago informed each of its money managers that it would drop them if they give business to program-trading firms.@@@@1@26@@oe@2-2-2013
20591035@unknown@formal@none@1@S@It was just those kinds of ultimatums that last week succeeded in turning up the heat in the debate.@@@@1@19@@oe@2-2-2013
20591036@unknown@formal@none@1@S@Kemper Corp.'s Kemper Financial Services unit said it cut off Bear Stearns, Morgan Stanley, Oppenheimer and General Electric Co.'s Kidder, Peabody & Co. unit.@@@@1@24@@oe@2-2-2013
20591037@unknown@formal@none@1@S@All of the firms except Kidder, which is the second-biggest program trader on Wall Street, quickly announced pull-backs from index arbitrage.@@@@1@21@@oe@2-2-2013
20591038@unknown@formal@none@1@S@Kidder officials stand by their aggressive use of program trading.@@@@1@10@@oe@2-2-2013
20591039@unknown@formal@none@1@S@Chief Executive Officer Michael Carpenter said that despite the outcry even by some of Kidder's own brokers, he believes index arbitrage doesn't have a "negative impact on the market as a whole.@@@@1@32@@oe@2-2-2013
20591040@unknown@formal@none@1@S@" However, pressure on Kidder's parent, GE, could change Kidder's policy.@@@@1@11@@oe@2-2-2013
20591041@unknown@formal@none@1@S@GE Chairman John Welch has been "besieged with phone calls" complaining about his unit's program trading, according to a person close to him.@@@@1@23@@oe@2-2-2013
20592001@unknown@formal@none@1@S@Margaret Thatcher's instinctive response to the latest upheaval in her government is to promise business as usual.@@@@1@17@@oe@2-2-2013
20592002@unknown@formal@none@1@S@That may be the last thing she needs.@@@@1@8@@oe@2-2-2013
20592003@unknown@formal@none@1@S@As the air clears from last week's storm of resignations and reshufflings, the government faces a daunting job of rebuilding confidence in its policies.@@@@1@24@@oe@2-2-2013
20592004@unknown@formal@none@1@S@The prime minister and her new chancellor of the exchequer, the untested John Major, need to haul the country through something like a recession to bring down inflation and set the economy moving again.@@@@1@34@@oe@2-2-2013
20592005@unknown@formal@none@1@S@Mrs. Thatcher has to come to terms with European economic integration, beginning with the European Monetary System, which Britain is committed to joining fully someday.@@@@1@25@@oe@2-2-2013
20592006@unknown@formal@none@1@S@Finally, the government has to convince a rattled financial community -- and voters -- it is proceeding coherently toward its goals.@@@@1@21@@oe@2-2-2013
20592007@unknown@formal@none@1@S@It sounds like the work of a decade, but the deadline is late 1991, when Mrs. Thatcher is expected to call another national election.@@@@1@24@@oe@2-2-2013
20592008@unknown@formal@none@1@S@What's worrying her supporters is that the economic cycle may be out of kilter with the political timetable.@@@@1@18@@oe@2-2-2013
20592009@unknown@formal@none@1@S@She could end up seeking a fourth term in an economy sick with inflation, high interest rates and a heavy trade deficit.@@@@1@22@@oe@2-2-2013
20592010@unknown@formal@none@1@S@Though Mrs. Thatcher has pulled through other crises, supporters wonder if her steely, autocratic ways are the right formula today.@@@@1@20@@oe@2-2-2013
20592011@unknown@formal@none@1@S@"There's a rising fear that perhaps Mrs. Thatcher's style of management has become a political liability," says Bill Martin, senior economist at London brokers UBS-Phillips & Drew.@@@@1@27@@oe@2-2-2013
20592012@unknown@formal@none@1@S@The prime minister's insistence on keeping a private coterie of advisers -- including an economic guru who openly criticized former Chancellor of the Exchequer Nigel Lawson -- confused the financial community.@@@@1@31@@oe@2-2-2013
20592013@unknown@formal@none@1@S@Last week, the strategy of playing the two experts off each other blew up: Mr. Lawson quit in exasperation and Sir Alan Walters, the adviser, announced his resignation within an hour.@@@@1@31@@oe@2-2-2013
20592014@unknown@formal@none@1@S@The confusion could be costly.@@@@1@5@@oe@2-2-2013
20592015@unknown@formal@none@1@S@Currency traders, suspecting Mr. Major won't defend the pound strenuously, sent the British currency sharply lower Friday against the dollar and West German mark.@@@@1@24@@oe@2-2-2013
20592016@unknown@formal@none@1@S@Analysts expect further jitters this week.@@@@1@6@@oe@2-2-2013
20592017@unknown@formal@none@1@S@A continuing slide in the pound could force the government to push through another rise in the base rate, currently 15%.@@@@1@21@@oe@2-2-2013
20592018@unknown@formal@none@1@S@That could shove a weak economy into recession.@@@@1@8@@oe@2-2-2013
20592019@unknown@formal@none@1@S@Economists have been anticipating a slump for months, but they now say it will be deeper and longer than they had thought.@@@@1@22@@oe@2-2-2013
20592020@unknown@formal@none@1@S@Britain's economy "is developing rapidly toward no-growth," says J. Paul Horne, international economist with Smith Barney, Harris Upham Co. in Paris.@@@@1@21@@oe@2-2-2013
20592021@unknown@formal@none@1@S@A mild slowdown probably would have run its course by early 1991, economists say, while the grueling downturn now expected could stretch into 1992.@@@@1@24@@oe@2-2-2013
20592022@unknown@formal@none@1@S@Recovery could be hampered if Britain's major trading partners in Europe, which are enjoying robust economic activity, cool off as expected in late 1990 and 1991.@@@@1@26@@oe@2-2-2013
20592023@unknown@formal@none@1@S@That would leave Mrs. Thatcher little room for maneuver.@@@@1@9@@oe@2-2-2013
20592024@unknown@formal@none@1@S@For the Tories to win the next election, voters will need to sense economic improvement for about a year beforehand.@@@@1@20@@oe@2-2-2013
20592025@unknown@formal@none@1@S@Though Mrs. Thatcher doesn't need to call an election until June 1992, she would prefer doing so in late 1991.@@@@1@20@@oe@2-2-2013
20592026@unknown@formal@none@1@S@"If the economy shows no sign of turning around in about year's time, she will be very vulnerable," says John Barnes, a lecturer at the London School of Economics.@@@@1@29@@oe@2-2-2013
20592027@unknown@formal@none@1@S@There's an equally pressing deadline for the government to define its monetary and economic ties to the rest of the European Community.@@@@1@22@@oe@2-2-2013
20592028@unknown@formal@none@1@S@It has sent mixed signals about its willingness to take part in the exchange-rate mechanism of the European Monetary System, which links the major EC currencies.@@@@1@26@@oe@2-2-2013
20592029@unknown@formal@none@1@S@At a June EC summit, Mrs. Thatcher appeared to ease her opposition to full EMS membership, saying Britain would join once its inflation rate fell and the EC liberalized capital movements.@@@@1@31@@oe@2-2-2013
20592030@unknown@formal@none@1@S@Since then, the government has left observers wondering if it ever meant to join.@@@@1@14@@oe@2-2-2013
20592031@unknown@formal@none@1@S@Sir Alan assailed the monetary arrangement as "half-baked" in an article being published in an American economics journal.@@@@1@18@@oe@2-2-2013
20592032@unknown@formal@none@1@S@That produced little reaction from his boss, reinforcing speculation the government would use its two conditions as a pretext for avoiding full EMS membership.@@@@1@24@@oe@2-2-2013
20592033@unknown@formal@none@1@S@Despite the departure of Mr. Lawson and Sir Alan, the tug-of-war over the EMS could continue.@@@@1@16@@oe@2-2-2013
20592034@unknown@formal@none@1@S@Sir Geoffrey Howe, deputy prime minister and a Lawson ally on the EMS, has signaled he will continue pressing for early membership.@@@@1@22@@oe@2-2-2013
20592035@unknown@formal@none@1@S@Of immediate concern is whether the Thatcher government will continue Mr. Lawson's policy of tracking the monetary policies of the West German Bundesbank and responding in kind when the Frankfurt authorities move interest rates.@@@@1@34@@oe@2-2-2013
20592036@unknown@formal@none@1@S@Mrs. Thatcher "doesn't like taking orders from foreigners," says Tim Congdon, economist with Gerrard & National Holding PLC.@@@@1@18@@oe@2-2-2013
20592037@unknown@formal@none@1@S@As Conservatives rally around Mrs. Thatcher during the crisis, many harbor hopes last week's debacle will prompt change.@@@@1@18@@oe@2-2-2013
20592038@unknown@formal@none@1@S@"We won't have any more of this wayward behavior," says Sir Peter Hordern, a backbench Tory member of Parliament.@@@@1@19@@oe@2-2-2013
20592039@unknown@formal@none@1@S@"The party is fed up with sackings of good people."@@@@1@10@@oe@2-2-2013
20592040@unknown@formal@none@1@S@It's an unrealistic expectation.@@@@1@4@@oe@2-2-2013
20592041@unknown@formal@none@1@S@As long as a decade ago, Mrs. Thatcher declared she didn't want debate in her cabinet; she wanted strong government.@@@@1@20@@oe@2-2-2013
20592042@unknown@formal@none@1@S@Over the weekend, she said she didn't intend to change her style and denied she is authoritarian.@@@@1@17@@oe@2-2-2013
20592043@unknown@formal@none@1@S@"Nonsense," she told an interviewer yesterday on London Weekend Television.@@@@1@10@@oe@2-2-2013
20592044@unknown@formal@none@1@S@"I am staying my own sweet, reasonable self.@@@@1@8@@oe@2-2-2013
20593001@unknown@formal@none@1@S@Joseph L. Dionne, chairman and chief executive officer of McGraw-Hill Inc., was elected to the board of directors of this electronics manufacturer.@@@@1@22@@oe@2-2-2013
20593002@unknown@formal@none@1@S@He succeeds the retiring James W. Wilcock.@@@@1@7@@oe@2-2-2013
20594001@unknown@formal@none@1@S@Base Data@@@@1@2@@oe@2-2-2013
20594002@unknown@formal@none@1@S@Computers that once were the state of the art, The marvels bought three years ago, Are now obsolete.@@@@1@18@@oe@2-2-2013
20594003@unknown@formal@none@1@S@As we queasily start The search for replacements, we know The new one we purchase in hopes it will do, Despite every wonder that's stated, Means more speed, more graphics, more memory, too, But also more quickly out- dated!@@@@1@39@@oe@2-2-2013
20594004@unknown@formal@none@1@S@-- Bern Sharfman.@@@@1@3@@oe@2-2-2013
20594005@unknown@formal@none@1@S@Curdling Confession@@@@1@2@@oe@2-2-2013
20594006@unknown@formal@none@1@S@I know when dividends are due; When bonds should be retired; But what gets by me every time Is has the milk expired?@@@@1@23@@oe@2-2-2013
20594007@unknown@formal@none@1@S@-- Ralph Shaffer.@@@@1@3@@oe@2-2-2013
20594008@unknown@formal@none@1@S@Daffynition@@@@1@1@@oe@2-2-2013
20594009@unknown@formal@none@1@S@Tithing: Obedience to one-tenth Commandment.@@@@1@5@@oe@2-2-2013
20594010@unknown@formal@none@1@S@-- Len Elliott.@@@@1@3@@oe@2-2-2013
20595001@unknown@formal@none@1@S@Wives May Not Benefit When Men Do Chores@@@@1@8@@oe@2-2-2013
20595002@unknown@formal@none@1@S@WHEN HUSBANDS take on more housework, they tend to substitute for chores done by the kids rather than by the wife.@@@@1@21@@oe@2-2-2013
20595003@unknown@formal@none@1@S@Rand Corp. researchers Linda Waite and Frances Goldscheider analyzed a large sample of married women with at least one child at home between the ages of six and 18.@@@@1@29@@oe@2-2-2013
20595004@unknown@formal@none@1@S@The women indicated which family member usually did various household chores and the approximate share each did.@@@@1@17@@oe@2-2-2013
20595005@unknown@formal@none@1@S@Not unexpectedly, wives, whether working or non-working, did by far the most -- about 80% of the shopping, laundry and cooking, and about two-thirds of housecleaning, washing dishes, child care and family paper work.@@@@1@34@@oe@2-2-2013
20595006@unknown@formal@none@1@S@Only for yardwork and home maintenance did women do less than half.@@@@1@12@@oe@2-2-2013
20595007@unknown@formal@none@1@S@But the researchers found that while children's household tasks eased the mother's burden appreciably, the husband's helping hand "appears to lighten the children's load almost on a one-for-one basis and to reduce the wife's responsibility only modestly."@@@@1@37@@oe@2-2-2013
20595008@unknown@formal@none@1@S@This pattern was particularly evident among more highly educated couples.@@@@1@10@@oe@2-2-2013
20595009@unknown@formal@none@1@S@In these families, husbands took on 80% more chores than in couples with only grammar school education.@@@@1@17@@oe@2-2-2013
20595010@unknown@formal@none@1@S@But the kids with highly educated parents did 68% less housework than those in less-educated families.@@@@1@16@@oe@2-2-2013
20595011@unknown@formal@none@1@S@"It is clear," Ms. Waite says, "that most of the effect of increasing education has been to shift who is helping the wife/mother.@@@@1@23@@oe@2-2-2013
20595012@unknown@formal@none@1@S@Her share decreases, but only slightly."@@@@1@6@@oe@2-2-2013
20595013@unknown@formal@none@1@S@Nursing Home Patients Apt to Be Private Payers@@@@1@8@@oe@2-2-2013
20595014@unknown@formal@none@1@S@FAR FEWER elderly nursing home residents bankrupt themselves than was previously believed, two recent studies declare.@@@@1@16@@oe@2-2-2013
20595015@unknown@formal@none@1@S@State governments place very low ceilings on how much property people may own or how much income they may keep if they want welfare help on medical bills.@@@@1@28@@oe@2-2-2013
20595016@unknown@formal@none@1@S@Conventional wisdom has long held that anywhere from one-fourth to one-half of all elderly long-term care patients are obliged to spend themselves into poverty before qualifying for Medicaid assistance.@@@@1@29@@oe@2-2-2013
20595017@unknown@formal@none@1@S@But separate reports from Joshua Weiner and Denise Spence of the Brookings Institution and Korbin Liu of the Urban Institute find that "a surprisingly small proportion" -- only about 10% -- of residents start out as private payers but "spend down" to Medicaid levels in a single nursing home stay before they die or are discharged.@@@@1@56@@oe@2-2-2013
20595018@unknown@formal@none@1@S@(Another one-third are already on Medicaid when they enter the nursing homes, a considerably higher proportion than the analysts anticipated.)@@@@1@20@@oe@2-2-2013
20595019@unknown@formal@none@1@S@But a remarkably high percentage -- over half -- are private payers throughout their stay, even a fairly lengthy one.@@@@1@20@@oe@2-2-2013
20595020@unknown@formal@none@1@S@About one-third pay out of their own pockets, while the rest are covered throughout by Medicare, private insurers or the Veterans Administration.@@@@1@22@@oe@2-2-2013
20595021@unknown@formal@none@1@S@Both reports are based on several thousand patients sampled in a 1985 nationwide government survey.@@@@1@15@@oe@2-2-2013
20595022@unknown@formal@none@1@S@The Brookings and Urban Institute authors caution, however, that most nursing home stays are of comparatively short duration, and reaching the Medicaid level is more likely with an unusually long stay or repeated stays.@@@@1@34@@oe@2-2-2013
20595023@unknown@formal@none@1@S@Moreover, they note, those who manage to pay their own way often do so only by selling their homes, using up life savings or drawing heavily on children and other relatives.@@@@1@31@@oe@2-2-2013
20595024@unknown@formal@none@1@S@Reagan Era Young Hold Liberal Views@@@@1@6@@oe@2-2-2013
20595025@unknown@formal@none@1@S@THE REAGAN generation young men and women reaching political maturity during Ronald Reagan's presidency -- are firmly liberal on race and gender, according to NORC, the social science research center at the University of Chicago.@@@@1@35@@oe@2-2-2013
20595026@unknown@formal@none@1@S@Many political analysts have speculated that the Reagan years would produce a staunchly conservative younger generation.@@@@1@16@@oe@2-2-2013
20595027@unknown@formal@none@1@S@NORC's most recent opinion surveys find the youngest adults indeed somewhat more pro-Reagan and pro-Republican than other adults.@@@@1@18@@oe@2-2-2013
20595028@unknown@formal@none@1@S@But, says chief investigator Tom Smith, this "does not translate into support for conservatism in general or into conservative positions on feminist and civil rights issues."@@@@1@26@@oe@2-2-2013
20595029@unknown@formal@none@1@S@Answers to a dozen questions in the 1986, 1987, 1988 and 1989 national surveys reveal that men and women in the 18 to 24 age bracket are considerably more liberal on race and gender than were the 18 to 24 year olds in NORC's polling in the early 1970s and early 1980s.@@@@1@52@@oe@2-2-2013
20595030@unknown@formal@none@1@S@They were also as liberal or more liberal than any other age group in the 1986 through 1989 surveys.@@@@1@19@@oe@2-2-2013
20595031@unknown@formal@none@1@S@For example, 66% of the 18 to 24 year olds in the four latest surveys favored an "open housing" law prohibiting homeowners from refusing on racial grounds to sell to prospective buyers.@@@@1@32@@oe@2-2-2013
20595032@unknown@formal@none@1@S@That compares with 58% of the similar age group in the 1980 through 1982 surveys and 55% in the 1972 through 1975 surveys.@@@@1@23@@oe@2-2-2013
20595033@unknown@formal@none@1@S@Asked whether they agreed or disagreed with the claim that men are emotionally better suited to politics than women, 70% of the Reagan generation disagreed, compared with under 60% of younger men and women in the earlier years.@@@@1@38@@oe@2-2-2013
20595034@unknown@formal@none@1@S@Odds and Ends@@@@1@3@@oe@2-2-2013
20595035@unknown@formal@none@1@S@SEPARATED and divorced men and women are far more likely to be smokers than married persons, the Centers for Disease Control discovers. . . .@@@@1@25@@oe@2-2-2013
20595036@unknown@formal@none@1@S@Graduate students are taking longer than ever to get their doctor of philosophy degrees, the National Research Council says.@@@@1@19@@oe@2-2-2013
20595037@unknown@formal@none@1@S@It estimates the time between college graduation and the awarding of a Ph. D. has lengthened by 30% over the past 20 years, with the average gap now ranging from about 7.4 years in the physical sciences to 16.2 years in education.@@@@1@42@@oe@2-2-2013
20596001@unknown@formal@none@1@S@October was an edgy month for the practitioners of glasnost, the official Soviet policy of allowing more candor from the nation's media.@@@@1@22@@oe@2-2-2013
20596002@unknown@formal@none@1@S@For one of the superstars of glasnost, Vitaly Korotich, editor of the trail-blazing weekly Ogonyok, Friday, Oct. 20 was a somersaulting day that turned from tension to elation.@@@@1@28@@oe@2-2-2013
20596003@unknown@formal@none@1@S@He had been summoned to the Central Committee of the Soviet Communist Party, after he finished his lunch at the Savoy Hotel, an unlikely prelude to a bureaucratic brow-beating: Eight-foot-tall Rubenesquely naked ladies float on their canvases toward a ceiling teeming with cherubs, all surrounded by gilt laid on with a pastry chef's trowel and supported by marble corinthian columns whose capitals are fluting fountains of gold.@@@@1@67@@oe@2-2-2013
20596004@unknown@formal@none@1@S@Why had Mr. Korotich been called?@@@@1@6@@oe@2-2-2013
20596005@unknown@formal@none@1@S@"I told my driver," he said, "that he was taking my butt to the Central Committee so they can . . ." whack, whack, whack his hand made vigorous spanking gestures on his left palm. "@@@@1@36@@oe@2-2-2013
20596006@unknown@formal@none@1@S@They feel the need from time to time to `educate' me."@@@@1@11@@oe@2-2-2013
20596007@unknown@formal@none@1@S@And indeed, as he later reported, that was the import of the meeting.@@@@1@13@@oe@2-2-2013
20596008@unknown@formal@none@1@S@Anxious allies of President Mikhail Gorbachev are cautioning media leaders to take it easy, to be careful not to do anything that could be used by Mr. Gorbachev's opponents.@@@@1@29@@oe@2-2-2013
20596009@unknown@formal@none@1@S@The government is nervous.@@@@1@4@@oe@2-2-2013
20596010@unknown@formal@none@1@S@According to Mr. Korotich, who was present, Mr. Gorbachev's publicized tongue-lashing of the press on Oct. 13 was more of a plea: "Be careful boys; use good judgment.@@@@1@28@@oe@2-2-2013
20596011@unknown@formal@none@1@S@We're standing in gasoline, so don't smoke!"@@@@1@7@@oe@2-2-2013
20596012@unknown@formal@none@1@S@U.S. and northern European diplomats confirm Mr. Korotich's assessment that glasnost is in no immediate danger.@@@@1@16@@oe@2-2-2013
20596013@unknown@formal@none@1@S@In fact, a very high-ranking Soviet official told an American official at a diplomatic dinner that no change in the policy was contemplated.@@@@1@23@@oe@2-2-2013
20596014@unknown@formal@none@1@S@The day after that conversation at the residence of the U.S. ambassador, the Brezhnevite editor of Pravda, Victor Afnasjev, was replaced by a college classmate of Mr. Gorbachev's.@@@@1@28@@oe@2-2-2013
20596015@unknown@formal@none@1@S@Brezhnevite holdovers have more to fear from Mr. Gorbachev than the verbal spanking he gave to the press.@@@@1@18@@oe@2-2-2013
20596016@unknown@formal@none@1@S@At the end of the very week in which Mr. Korotich was called to the Central Committee, Ogonyok was again demonstrating its independence by printing a poll that showed that 35% of the Soviet population, a plurality, believed that Mr. Gorbachev's economic reforms, perestroika, would result in only insignificant change.@@@@1@50@@oe@2-2-2013
20596017@unknown@formal@none@1@S@A good measurement of the popularity of ice-breaker journals like Ogonyok is circulation.@@@@1@13@@oe@2-2-2013
20596018@unknown@formal@none@1@S@When Mr. Korotich took it over in 1986, it sold 250,000 copies; today it sells 3.4 million.@@@@1@17@@oe@2-2-2013
20596019@unknown@formal@none@1@S@Pravda, meanwhile, has retained only 57% of its 1986 readership.@@@@1@10@@oe@2-2-2013
20596020@unknown@formal@none@1@S@Glasnost has made celebrities of men like Mr. Korotich.@@@@1@9@@oe@2-2-2013
20596021@unknown@formal@none@1@S@Prevented by the Communist Party from getting on its slate of nominees for the new Supreme Soviet, he stood as an independent candidate for Congress from his native Ukraine and won with 84% of the vote.@@@@1@36@@oe@2-2-2013
20596022@unknown@formal@none@1@S@The same evening that he was summoned for a warning from the Party, he was cheered by thousands of his supporters at a rally of what can only be called the Korotich party.@@@@1@33@@oe@2-2-2013
20596023@unknown@formal@none@1@S@But as astounding as the changes that have already occurred are, there is a fragility to glasnost.@@@@1@17@@oe@2-2-2013
20596024@unknown@formal@none@1@S@Censorship isn't a Marxist invention.@@@@1@5@@oe@2-2-2013
20596025@unknown@formal@none@1@S@The czars were no civil libertarians.@@@@1@6@@oe@2-2-2013
20596026@unknown@formal@none@1@S@As late as the 1890s, the Russian government prevented any coverage of famines.@@@@1@13@@oe@2-2-2013
20596027@unknown@formal@none@1@S@It even directed newspapers not to publish anything that might stain the honor of the Turkish sultan's wives.@@@@1@18@@oe@2-2-2013
20596028@unknown@formal@none@1@S@So glasnost is not a value woven with steel threads into the fabric of Russian society.@@@@1@16@@oe@2-2-2013
20596029@unknown@formal@none@1@S@It is an admirable public relations program initiated by a single political leader during a four-year blink of history.@@@@1@19@@oe@2-2-2013
20596030@unknown@formal@none@1@S@It is public relations of the highest sophistication, that recognizes that credibility is enhanced by honesty -- up to a point.@@@@1@21@@oe@2-2-2013
20596031@unknown@formal@none@1@S@What is that point?@@@@1@4@@oe@2-2-2013
20596032@unknown@formal@none@1@S@Will Ogonyok begin a series of reports analyzing the failures of perestroika?@@@@1@12@@oe@2-2-2013
20596033@unknown@formal@none@1@S@"I'd be destroying myself," replies Mr. Korotich, who then asks, "What would that accomplish?@@@@1@14@@oe@2-2-2013
20596034@unknown@formal@none@1@S@" His answer reveals his vulnerability -- it also draws the line that Soviet society must cross to enter the normal dialogue of Western culture.@@@@1@25@@oe@2-2-2013
20596035@unknown@formal@none@1@S@It is the line beyond which the press can report not only on the bankruptcy of factories but on the failures of even admirable leaders.@@@@1@25@@oe@2-2-2013
20596036@unknown@formal@none@1@S@Mr. Ayers is editor and publisher of the Anniston, Ala., Star.@@@@1@11@@oe@2-2-2013
20597001@unknown@formal@none@1@S@A state trial judge in Illinois gave preliminary approval to a proposed settlement of a suit against a Bank of New York Co. unit, Irving Trust Co., over the interest rates on Irving's former One Wall Street Account money-market deposit accounts.@@@@1@41@@oe@2-2-2013
20597002@unknown@formal@none@1@S@Judge Albert Green, in Cook County Circuit Court in Chicago, also recognized the suit, filed last May by Robert and Cynthia Langendorf, as a class action covering thousands of Irving customers.@@@@1@31@@oe@2-2-2013
20597003@unknown@formal@none@1@S@The plaintiffs accused Irving of paying less interest than promised in a marketing brochure.@@@@1@14@@oe@2-2-2013
20597004@unknown@formal@none@1@S@Irving maintained -- and still does -- that its actions were proper under its account agreements with customers.@@@@1@18@@oe@2-2-2013
20597005@unknown@formal@none@1@S@Under the proposed settlement, customers with valid claims -- to be submitted by Dec. 15 -- will receive "valuable bank services," such as credit cards with reduced finance charges, for two years.@@@@1@32@@oe@2-2-2013
20597006@unknown@formal@none@1@S@Larry Drury, attorney for the plaintiffs, valued the settlement at between $6 million and $8 million.@@@@1@16@@oe@2-2-2013
20597007@unknown@formal@none@1@S@A Bank of New York spokesman in Manhattan, Owen Brady, said, "That's the maximum, outside figure.@@@@1@16@@oe@2-2-2013
20598001@unknown@formal@none@1@S@Federal Reserve critics used to complain of "stop and go" monetary policies.@@@@1@12@@oe@2-2-2013
20598002@unknown@formal@none@1@S@They claimed that the Fed would first give a green light to the economy by making credit readily available and then turn on the red and bring growth to a screeching halt.@@@@1@32@@oe@2-2-2013
20598003@unknown@formal@none@1@S@But under Alan Greenspan that has changed.@@@@1@7@@oe@2-2-2013
20598004@unknown@formal@none@1@S@A supremely cautious man, the Fed chairman is forever blinking yellow.@@@@1@11@@oe@2-2-2013
20598005@unknown@formal@none@1@S@Indeed, his caution has become legendary within the government.@@@@1@9@@oe@2-2-2013
20598006@unknown@formal@none@1@S@He fusses endlessly over economic statistics, dissecting them in dozens of ways, probing for hours in search of potential problems.@@@@1@20@@oe@2-2-2013
20598007@unknown@formal@none@1@S@After thoroughly digesting reams of information, he often concludes that more data are needed, and when he finally decides to act, his movements sometimes seem excrutiatingly small.@@@@1@27@@oe@2-2-2013
20598008@unknown@formal@none@1@S@Such caution was evident after the recent Friday-the-13th stock market plunge.@@@@1@11@@oe@2-2-2013
20598009@unknown@formal@none@1@S@Some Bush administration officials urged Mr. Greenspan to make an immediate public announcement of his plans to provide ample credit to the markets.@@@@1@23@@oe@2-2-2013
20598010@unknown@formal@none@1@S@But he refused, claiming that he wanted to see what happened Monday morning before making any public statement.@@@@1@18@@oe@2-2-2013
20598011@unknown@formal@none@1@S@Mr. Greenspan's decision to keep quiet also prompted a near-mutiny within the Fed's ranks.@@@@1@14@@oe@2-2-2013
20598012@unknown@formal@none@1@S@A "senior Fed official" spoke on Saturday after the market swoon to both the Washington Post and the New York Times, saying the Fed was prepared to provide as much credit as the markets needed.@@@@1@35@@oe@2-2-2013
20598013@unknown@formal@none@1@S@The statement angered Chairman Greenspan, but it was greeted with applause by the Bush administration and the financial markets.@@@@1@19@@oe@2-2-2013
20598014@unknown@formal@none@1@S@And, while the mutinous Fed member hasn't gone public, some Fed governors, most notably Vice Chairman Manuel Johnson, are known to have disagreed with the chairman's decision to remain silent.@@@@1@30@@oe@2-2-2013
20598015@unknown@formal@none@1@S@Ironically, the anonymous official's comments have earned some plaudits for Mr. Greenspan, who is mistakenly seen as the source.@@@@1@19@@oe@2-2-2013
20598016@unknown@formal@none@1@S@At a hearing last week, Democratic Sen. Chris Dodd of Connecticut told Treasury Secretary Nicholas Brady that "Chairman Greenspan's" announcement over the Oct. 13 weekend was a "very important statement."@@@@1@30@@oe@2-2-2013
20598017@unknown@formal@none@1@S@Mr. Brady hesitantly replied that he wasn't sure whether Mr. Greenspan "made a statement himself, or whether that was a newspaper report."@@@@1@22@@oe@2-2-2013
20598018@unknown@formal@none@1@S@The Fed chairman's caution was apparent again on the Monday morning after the market's plunge, when the central bank took only modest steps to aid the markets.@@@@1@27@@oe@2-2-2013
20598019@unknown@formal@none@1@S@A surprisingly small amount of reserves was added to the banking system.@@@@1@12@@oe@2-2-2013
20598020@unknown@formal@none@1@S@And, by the end of that week, the key federal funds interest rate, which is largely controlled by the Fed, had settled at 8.75%, barely changed from the level of just under 9% that prevailed the previous week.@@@@1@38@@oe@2-2-2013
20598021@unknown@formal@none@1@S@Bush administration officials appear increasingly concerned that Mr. Greenspan is cautious to a fault.@@@@1@14@@oe@2-2-2013
20598022@unknown@formal@none@1@S@Signs of growing weakness in the economy, paired with indications that inflation is staying well under control, have caused them to wonder why the Fed chairman is so grudging in reducing rates.@@@@1@32@@oe@2-2-2013
20598023@unknown@formal@none@1@S@Those concerns aren't expressed in public.@@@@1@6@@oe@2-2-2013
20598024@unknown@formal@none@1@S@In fact, the administration and the Fed have been going out of their way in the past two weeks to dispel any impression that they are at odds, fearing stories about an administration-Fed split added to the stock market's jitters.@@@@1@40@@oe@2-2-2013
20598025@unknown@formal@none@1@S@Still, the split is there.@@@@1@5@@oe@2-2-2013
20598026@unknown@formal@none@1@S@The administration's concerns are understandable.@@@@1@5@@oe@2-2-2013
20598027@unknown@formal@none@1@S@The economy is showing signs of weakness, particularly among manufacturers.@@@@1@10@@oe@2-2-2013
20598028@unknown@formal@none@1@S@Exports, which played a key role in fueling growth over the last two years, seem to have stalled.@@@@1@18@@oe@2-2-2013
20598029@unknown@formal@none@1@S@Factory payrolls and production fell in September, and the auto industry and housing are in a severe crunch.@@@@1@18@@oe@2-2-2013
20598030@unknown@formal@none@1@S@But Mr. Greenspan remains reluctant to loosen policy, partly because he faces a phalanx of presidents of regional Fed banks who oppose credit easing.@@@@1@24@@oe@2-2-2013
20598031@unknown@formal@none@1@S@In addition, the chairman has a wary eye aimed a year or two down the road.@@@@1@16@@oe@2-2-2013
20598032@unknown@formal@none@1@S@Inflation may be stable at the moment, running at about 4.5%.@@@@1@11@@oe@2-2-2013
20598033@unknown@formal@none@1@S@But if the Fed eases too soon, Mr. Greenspan fears, prices may begin to accelerate again next year.@@@@1@18@@oe@2-2-2013
20598034@unknown@formal@none@1@S@Moreover, if the Fed holds tight, it may be able gradually to reduce inflation, moving toward the zero-inflation goal that the Fed chairman embraced in testimony to Congress last week.@@@@1@30@@oe@2-2-2013
20598035@unknown@formal@none@1@S@So far, Mr. Greenspan's cautious approach to policy has served both him and the nation well.@@@@1@16@@oe@2-2-2013
20598036@unknown@formal@none@1@S@His hand on the monetary tiller seems one reason why the economy next month seems highly likely to begin an unprecedented eighth year of peacetime growth without a recession.@@@@1@29@@oe@2-2-2013
20598037@unknown@formal@none@1@S@"We've gotten through two stock market crashes, and we've gone through an election without any major problems," says David Hale, an economist of Kemper Financial Services.@@@@1@26@@oe@2-2-2013
20598038@unknown@formal@none@1@S@"I think you have to give Greenspan a good rating."@@@@1@10@@oe@2-2-2013
20598039@unknown@formal@none@1@S@But such caution is no guarantee against mistakes.@@@@1@8@@oe@2-2-2013
20598040@unknown@formal@none@1@S@The Fed's reluctance to ease credit now could be laying the groundwork for a new recession, perhaps starting early next year.@@@@1@21@@oe@2-2-2013
20598041@unknown@formal@none@1@S@If that happens, Chairman Greenspan could well become an open target.@@@@1@11@@oe@2-2-2013
20598042@unknown@formal@none@1@S@Already, Congress is toying with legislation to curb the Fed's independence.@@@@1@11@@oe@2-2-2013
20598043@unknown@formal@none@1@S@If the economy turns down, such proposals could gain strong momentum.@@@@1@11@@oe@2-2-2013
20599001@unknown@formal@none@1@S@The following issues were recently filed with the Securities and Exchange Commission:@@@@1@12@@oe@2-2-2013
20599002@unknown@formal@none@1@S@ECI Environmental Inc., initial offering of 1.1 million shares, of which ECI will sell 990,000 and co-founders will sell 110,000 shares, via Oppenheimer & Co.@@@@1@25@@oe@2-2-2013
20599003@unknown@formal@none@1@S@Fastenal Co., proposed offering of 400,000 common shares by holders, via Robert W. Baird & Co. and William Blair & Co.@@@@1@21@@oe@2-2-2013
20599004@unknown@formal@none@1@S@First Capital Holdings Corp., proposed offering of $275 million of floating rate senior notes, via Shearson Lehman Hutton Inc.@@@@1@19@@oe@2-2-2013
20599005@unknown@formal@none@1@S@Industrial Funding Corp., initial offering of common stock, via Alex. Brown & Sons Inc. and Piper Jaffray & Hopwood.@@@@1@19@@oe@2-2-2013
20599006@unknown@formal@none@1@S@Parametric Technology Corp., initial offering of 1.7 million common shares, of which 1,365,226 shares will be sold by the company and 334,774 shares by holders, via Alex Brown & Sons, Hambrecht & Quist and Wessels, Arnold & Henderson.@@@@1@38@@oe@2-2-2013
20599007@unknown@formal@none@1@S@Union Camp Corp., shelf offering of up to $250 million of debt securities.@@@@1@13@@oe@2-2-2013
20600001@unknown@formal@none@1@S@Spencer J. Volk, president and chief operating officer of this consumer and industrial products company, was elected a director.@@@@1@19@@oe@2-2-2013
20600002@unknown@formal@none@1@S@Mr. Volk, 55 years old, succeeds Duncan Dwight, who retired in September.@@@@1@12@@oe@2-2-2013
20601001@unknown@formal@none@1@S@In an age of specialization, the federal judiciary is one of the last bastions of the generalist.@@@@1@17@@oe@2-2-2013
20601002@unknown@formal@none@1@S@A judge must jump from murder to antitrust cases, from arson to securities fraud, without missing a beat.@@@@1@18@@oe@2-2-2013
20601003@unknown@formal@none@1@S@But even on the federal bench, specialization is creeping in, and it has become a subject of sharp controversy on the newest federal appeals court.@@@@1@25@@oe@2-2-2013
20601004@unknown@formal@none@1@S@The Court of Appeals for the Federal Circuit was created in 1982 to serve, among other things, as the court of last resort for most patent disputes.@@@@1@27@@oe@2-2-2013
20601005@unknown@formal@none@1@S@Previously, patent cases moved through the court system to one of the 12 circuit appeals courts.@@@@1@16@@oe@2-2-2013
20601006@unknown@formal@none@1@S@There, judges who saw few such cases and had no experience in the field grappled with some of the most technical and complex disputes imaginable.@@@@1@25@@oe@2-2-2013
20601007@unknown@formal@none@1@S@A new specialty court was sought by patent experts, who believed that the generalists had botched too many important, multimillion-dollar cases.@@@@1@21@@oe@2-2-2013
20601008@unknown@formal@none@1@S@Some patent lawyers had hoped that such a specialty court would be filled with experts in the field.@@@@1@18@@oe@2-2-2013
20601009@unknown@formal@none@1@S@But the Reagan administration thought otherwise, and so may the Bush administration.@@@@1@12@@oe@2-2-2013
20601010@unknown@formal@none@1@S@Since 1984, the president has filled four vacancies in the Federal Circuit court with non-patent lawyers.@@@@1@16@@oe@2-2-2013
20601011@unknown@formal@none@1@S@Now only three of the 12 judges -- Pauline Newman, Chief Judge Howard T. Markey, 68, and Giles Rich, 85 -- have patent-law backgrounds.@@@@1@24@@oe@2-2-2013
20601012@unknown@formal@none@1@S@The latter two and Judge Daniel M. Friedman, 73, are approaching senior status or retirement.@@@@1@15@@oe@2-2-2013
20601013@unknown@formal@none@1@S@Three seats currently are vacant and three others are likely to be filled within a few years, so patent lawyers and research-based industries are making a new push for specialists to be added to the court.@@@@1@36@@oe@2-2-2013
20601014@unknown@formal@none@1@S@Several organizations, including the Industrial Biotechnical Association and the Pharmaceutical Manufacturers Association, have asked the White House and Justice Department to name candidates with both patent and scientific backgrounds.@@@@1@29@@oe@2-2-2013
20601015@unknown@formal@none@1@S@The associations would like the court to include between three and six judges with specialized training.@@@@1@16@@oe@2-2-2013
20601016@unknown@formal@none@1@S@Some of the associations have recommended Dr. Alan D. Lourie, 54, a former patent agent with a doctorate in organic chemistry who now is associate general counsel with SmithKline Beckman Corp. in Philadelphia.@@@@1@33@@oe@2-2-2013
20601017@unknown@formal@none@1@S@Dr. Lourie says the Justice Department interviewed him last July.@@@@1@10@@oe@2-2-2013
20601018@unknown@formal@none@1@S@Their effort has received a lukewarm response from the Justice Department.@@@@1@11@@oe@2-2-2013
20601019@unknown@formal@none@1@S@"We do not feel that seats are reserved (for patent lawyers)," says Justice spokesman David Runkel, who declines to say how soon a candidate will be named.@@@@1@27@@oe@2-2-2013
20601020@unknown@formal@none@1@S@"But we will take it into consideration."@@@@1@7@@oe@2-2-2013
20601021@unknown@formal@none@1@S@The Justice Department's view is shared by other lawyers and at least one member of the court, Judge H. Robert Mayer, a former civil litigator who served at the claims court trial level before he was appointed to the Federal Circuit two years ago.@@@@1@44@@oe@2-2-2013
20601022@unknown@formal@none@1@S@"I believe that any good lawyer should be able to figure out and understand patent law," Judge Mayer says, adding that "it's the responsibility of highly paid lawyers (who argue before the court) to make us understand (complex patent litigation)."@@@@1@40@@oe@2-2-2013
20601023@unknown@formal@none@1@S@Yet some lawyers point to Eli Lilly & Co. vs. Medtronic, Inc., the patent infringement case the Supreme Court this month agreed to review, as an example of poor legal reasoning by judges who lack patent litigation experience.@@@@1@38@@oe@2-2-2013
20601024@unknown@formal@none@1@S@(Judge Mayer was not on the three-member panel.)@@@@1@8@@oe@2-2-2013
20601025@unknown@formal@none@1@S@In the Lilly case, the appeals court broadly construed a federal statute to grant Medtronic, a medical device manufacturer, an exemption to infringe a patent under certain circumstances.@@@@1@28@@oe@2-2-2013
20601026@unknown@formal@none@1@S@If the Supreme Court holds in Medtronic's favor, the decision will have billion-dollar consequences for the manufacturers of medical devices, color and food additives and all other non-drug products that required Food & Drug Administration approval.@@@@1@36@@oe@2-2-2013
20601027@unknown@formal@none@1@S@Lisa Raines, a lawyer and director of government relations for the Industrial Biotechnical Association, contends that a judge well-versed in patent law and the concerns of research-based industries would have ruled otherwise.@@@@1@32@@oe@2-2-2013
20601028@unknown@formal@none@1@S@And Judge Newman, a former patent lawyer, wrote in her dissent when the court denied a motion for a rehearing of the case by the full court, "The panel's judicial legislation has affected an important high-technological industry, without regard to the consequences for research and innovation or the public interest."@@@@1@50@@oe@2-2-2013
20601029@unknown@formal@none@1@S@Says Ms. Raines, "(The judgment) confirms our concern that the absence of patent lawyers on the court could prove troublesome.@@@@1@20@@oe@2-2-2013
20602001@unknown@formal@none@1@S@Friday, October 27, 1989@@@@1@4@@oe@2-2-2013
20602002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
20602003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
20602004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
20602005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 3/4% high, 8 11/16% low, 8 5/8% near closing bid, 8 11/16% offered.@@@@1@16@@oe@2-2-2013
20602006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
20602007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
20602008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
20602009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
20602010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
20602011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
20602012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.50% 30 to 44 days; 8.25% 45 to 65 days; 8.375% 66 to 89 days; 8% 90 to 119 days; 7.875% 120 to 149 days; 7.75% 150 to 179 days; 7.50% 180 to 270 days.@@@@1@44@@oe@2-2-2013
20602013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.575% 30 days; 8.475% 60 days; 8.40% 90 days.@@@@1@24@@oe@2-2-2013
20602014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.09% one month; 8.04% two months; 8.03% three months; 7.96% six months; 7.92% one year.@@@@1@18@@oe@2-2-2013
20602015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
20602016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
20602017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.55% one month; 8.50% three months; 8.40% six months.@@@@1@15@@oe@2-2-2013
20602018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.52% 30 days; 8.35% 60 days; 8.33% 90 days; 8.17% 120 days; 8.08% 150 days; 8% 180 days.@@@@1@20@@oe@2-2-2013
20602019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
20602020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 11/16% to 8 9/16% one month; 8 5/8% to 8 1/2% two months; 8 11/16% to 8 9/16% three months; 8 9/16% to 8 7/16% four months; 8 1/2% to 8 3/8% five months; 8 7/16% to 8 5/16% six months.@@@@1@45@@oe@2-2-2013
20602021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 11/16% one month; 8 11/16% three months; 8 7/16% six months; 8 3/8% one year.@@@@1@21@@oe@2-2-2013
20602022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
20602023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 9%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
20602024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
20602025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 23, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.52% 13 weeks; 7.50% 26 weeks.@@@@1@35@@oe@2-2-2013
20602026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac):@@@@1@7@@oe@2-2-2013
20602027@unknown@formal@none@1@S@Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@11@@oe@2-2-2013
20602028@unknown@formal@none@1@S@9.80%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
20602029@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
20602030@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae):@@@@1@6@@oe@2-2-2013
20602031@unknown@formal@none@1@S@Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par) 9.75%, standard conventional fixed-rate mortgages; 8.70%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@28@@oe@2-2-2013
20602032@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
20602033@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.65%.@@@@1@6@@oe@2-2-2013
20602034@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
20603001@unknown@formal@none@1@S@THE FINANCIAL ACCOUNTING STANDARDS BOARD'S coming rule on disclosure involving financial instruments will be effective for financial statements with fiscal years ending after June 15, 1990.@@@@1@26@@oe@2-2-2013
20603002@unknown@formal@none@1@S@The date was misstated in Friday's edition.@@@@1@7@@oe@2-2-2013
20604001@unknown@formal@none@1@S@Kidder, Peabody & Co. is trying to struggle back.@@@@1@9@@oe@2-2-2013
20604002@unknown@formal@none@1@S@Only a few months ago, the 124-year-old securities firm seemed to be on the verge of a meltdown, racked by internal squabbles and defections.@@@@1@24@@oe@2-2-2013
20604003@unknown@formal@none@1@S@Its relationship with parent General Electric Co. had been frayed since a big Kidder insider-trading scandal two years ago.@@@@1@19@@oe@2-2-2013
20604004@unknown@formal@none@1@S@Chief executives and presidents had come and gone.@@@@1@8@@oe@2-2-2013
20604005@unknown@formal@none@1@S@Now, the firm says it's at a turning point.@@@@1@9@@oe@2-2-2013
20604006@unknown@formal@none@1@S@By the end of this year, 63-year-old Chairman Silas Cathcart -- the former chairman of Illinois Tool Works who was derided as a "tool-and-die man" when GE brought him in to clean up Kidder in 1987 -- retires to his Lake Forest, Ill., home, possibly to build a shopping mall on some land he owns.@@@@1@55@@oe@2-2-2013
20604007@unknown@formal@none@1@S@"I've done what I came to do" at Kidder, he says.@@@@1@11@@oe@2-2-2013
20604008@unknown@formal@none@1@S@And that means 42-year-old Michael Carpenter, president and chief executive since January, will for the first time take complete control of Kidder and try to make good on some grandiose plans.@@@@1@31@@oe@2-2-2013
20604009@unknown@formal@none@1@S@Mr. Carpenter says he will return Kidder to prominence as a great investment bank.@@@@1@14@@oe@2-2-2013
20604010@unknown@formal@none@1@S@Wall Street is understandably skeptical.@@@@1@5@@oe@2-2-2013
20604011@unknown@formal@none@1@S@Through the first nine months of the year, Kidder ranks a distant 10th among underwriters of U.S. stocks and bonds, with a 2.8% market share, up slightly from 2.5% in the year-earlier period, according to Securities Data Co.@@@@1@38@@oe@2-2-2013
20604012@unknown@formal@none@1@S@It's quite a fall from the early 1980s, when Kidder still was counted as an investment-banking powerhouse.@@@@1@17@@oe@2-2-2013
20604013@unknown@formal@none@1@S@Gary S. Goldstein, president of the Whitney Group, an executive search firm, said: "I'd like to see (Kidder) succeed.@@@@1@19@@oe@2-2-2013
20604014@unknown@formal@none@1@S@But they have to attract good senior bankers who can bring in the business from day one."@@@@1@17@@oe@2-2-2013
20604015@unknown@formal@none@1@S@In 1988, Kidder eked out a $46 million profit, mainly because of severe cost cutting.@@@@1@15@@oe@2-2-2013
20604016@unknown@formal@none@1@S@Its 1,400-member brokerage operation reported an estimated $5 million loss last year, although Kidder expects it to turn a profit this year.@@@@1@22@@oe@2-2-2013
20604017@unknown@formal@none@1@S@In fact, Kidder is a minor player in just about every business it does except computer-driven program trading; in that controversial business, only Morgan Stanley & Co. rivals Kidder.@@@@1@29@@oe@2-2-2013
20604018@unknown@formal@none@1@S@But even that niche is under attack, as several Wall Street firms pulled back from program trading last week under pressure from big investors.@@@@1@24@@oe@2-2-2013
20604019@unknown@formal@none@1@S@Mr. Carpenter, a former consulting-firm executive who has a love for "task forces," says he has done a "complete rethink" of Kidder in recent months.@@@@1@25@@oe@2-2-2013
20604020@unknown@formal@none@1@S@There have been a dizzying parade of studies of the firm's operations.@@@@1@12@@oe@2-2-2013
20604021@unknown@formal@none@1@S@More than 20 new managing directors and senior vice presidents have been hired since January.@@@@1@15@@oe@2-2-2013
20604022@unknown@formal@none@1@S@The firm's brokerage force has been trimmed and its mergers-and-acquisitions staff increased to a record 55 people.@@@@1@17@@oe@2-2-2013
20604023@unknown@formal@none@1@S@Mr. Carpenter says that when he assumes full control, Kidder will finally tap the resources of GE.@@@@1@17@@oe@2-2-2013
20604024@unknown@formal@none@1@S@One of GE's goals when it bought 80% of Kidder in 1986 was to take advantage of "syngeries" between Kidder and General Electric Capital Corp., GE's corporate-finance unit, which has $42 billion in assets.@@@@1@34@@oe@2-2-2013
20604025@unknown@formal@none@1@S@The leveraged buy-out group of GE Capital now reports to Mr. Carpenter.@@@@1@12@@oe@2-2-2013
20604026@unknown@formal@none@1@S@So far, instead of teaming up, GE Capital staffers and Kidder investment bankers have bickered.@@@@1@15@@oe@2-2-2013
20604027@unknown@formal@none@1@S@Yet, says Mr. Carpenter, "We've really started to exploit the synergy between GE Capital and Kidder Peabody."@@@@1@17@@oe@2-2-2013
20604028@unknown@formal@none@1@S@The units have worked on 37 investment banking deals this year, he says, though not all of them have panned out.@@@@1@21@@oe@2-2-2013
20604029@unknown@formal@none@1@S@"We've had a good relationship with GE, which is the first time you could say that -- uh, let me withdraw that.@@@@1@22@@oe@2-2-2013
20604030@unknown@formal@none@1@S@It's been a steadily improving relationship," says Mr. Carpenter.@@@@1@9@@oe@2-2-2013
20604031@unknown@formal@none@1@S@Still, without many actual deals to show off, Kidder is left to stress that it finally has "a team" in place, and that everyone works harder.@@@@1@26@@oe@2-2-2013
20604032@unknown@formal@none@1@S@A month ago, the firm started serving dinner at about 7:30 each night; about 50 to 60 of the 350 people in the investment banking operation have consistently been around that late.@@@@1@32@@oe@2-2-2013
20604033@unknown@formal@none@1@S@"We are working significantly longer and harder than has been the case in the past," says Scott C. Newquist, Kidder's head of investment banking since June.@@@@1@26@@oe@2-2-2013
20604034@unknown@formal@none@1@S@Everywhere, Kidder stresses the "always working" theme.@@@@1@7@@oe@2-2-2013
20604035@unknown@formal@none@1@S@A new in-house magazine, Kidder World -- which will focus on the firm's synergy strategy, says Mr. Carpenter -- confides that on weekends Mr. Newquist "often gets value-added ideas while flying his single-engine Cessna Centurion on the way to Nantucket."@@@@1@40@@oe@2-2-2013
20604036@unknown@formal@none@1@S@The firm's new head of mergers and acquisitions under Mr. Newquist, B.J. Megargel, talks of the opportunity to "rebuild a franchise" at Kidder.@@@@1@23@@oe@2-2-2013
20604037@unknown@formal@none@1@S@"The Kidder name is one of only six or seven that every CEO recognizes as a viable alternative" when considering a merger deal, he says.@@@@1@25@@oe@2-2-2013
20604038@unknown@formal@none@1@S@Now, according to a Kidder World story about Mr. Megargel, all the firm has to do is "position ourselves more in the deal flow."@@@@1@24@@oe@2-2-2013
20604039@unknown@formal@none@1@S@With investment banking as Kidder's "lead business," where do Kidder's 42-branch brokerage network and its 1,400 brokers fit in?@@@@1@19@@oe@2-2-2013
20604040@unknown@formal@none@1@S@Mr. Carpenter this month sold off Kidder's eight brokerage offices in Florida and Puerto Rico to Merrill Lynch & Co., refueling speculation that Kidder is getting out of the brokerage business entirely.@@@@1@32@@oe@2-2-2013
20604041@unknown@formal@none@1@S@Mr. Carpenter denies the speculation.@@@@1@5@@oe@2-2-2013
20604042@unknown@formal@none@1@S@To answer the brokerage question, Kidder, in typical fashion, completed a task-force study.@@@@1@13@@oe@2-2-2013
20604043@unknown@formal@none@1@S@The result: Kidder will focus on rich individual investors and small companies, much closer to the clientele of Goldman, Sachs & Co. than a serve-the-world firm like Merrill Lynch or Shearson Lehman Hutton Inc.@@@@1@34@@oe@2-2-2013
20604044@unknown@formal@none@1@S@Mr. Carpenter notes that these types of investors also are "sophisticated" enough not to complain about Kidder's aggressive use of program trading.@@@@1@22@@oe@2-2-2013
20604045@unknown@formal@none@1@S@As part of the upscale push, Kidder is putting brokers through a 20-week training course, turning them into "investment counselors" with knowledge of corporate finance.@@@@1@25@@oe@2-2-2013
20604046@unknown@formal@none@1@S@They will get "new and improved tools to sell, particularly to the affluent investor," says brokerage chief Charles V. Sheehan.@@@@1@20@@oe@2-2-2013
20604047@unknown@formal@none@1@S@Theoretically, the brokers will then be able to funnel "leads" on corporate finance opportunities to Kidder's investment bankers, possibly easing the longstanding tension between the two camps.@@@@1@27@@oe@2-2-2013
20604048@unknown@formal@none@1@S@However, skeptics caution that this kind of cross-pollination between brokers and investment bankers looks great on paper, but doesn't always happen.@@@@1@21@@oe@2-2-2013
20604049@unknown@formal@none@1@S@Kidder competitors aren't outwardly hostile to the firm, as many are to a tough competitor like Drexel Burnham Lambert Inc. that doesn't have Kidder's long history.@@@@1@26@@oe@2-2-2013
20604050@unknown@formal@none@1@S@However, competitors say that Kidder's hiring binge involving executive-level staffers, some with multiple-year contract guarantees, could backfire unless there are results.@@@@1@21@@oe@2-2-2013
20604051@unknown@formal@none@1@S@The departing Mr. Cathcart says he has no worries about Kidder's future.@@@@1@12@@oe@2-2-2013
20604052@unknown@formal@none@1@S@Mr. Cathcart, who will return to the Quaker Oats Co. board of directors, in addition to his personal ventures, is credited with bringing some basic budgeting and planning discipline to traditionally free-wheeling Kidder.@@@@1@33@@oe@2-2-2013
20604053@unknown@formal@none@1@S@He also improved the firm's compliance procedures for trading.@@@@1@9@@oe@2-2-2013
20604054@unknown@formal@none@1@S@Mr. Cathcart says he has had "a lot of fun" at Kidder, adding the crack about his being a "tool-and-die man" never bothered him.@@@@1@24@@oe@2-2-2013
20604055@unknown@formal@none@1@S@"It was an absolutely marvelous line and one I used many times," he says.@@@@1@14@@oe@2-2-2013
20604056@unknown@formal@none@1@S@Smiling broadly when he talks about Mr. Carpenter, Mr. Cathcart says the new Kidder chief is "going to be recognized shortly as one of the real leaders in the investment-banking business."@@@@1@31@@oe@2-2-2013
20604057@unknown@formal@none@1@S@In coming years, Mr. Cathcart says, Kidder is "gonna hum."@@@@1@10@@oe@2-2-2013
20604058@unknown@formal@none@1@S@Or, as Mr. Carpenter, again drawing on his consulting-firm background, puts it: "We're ready to implement at this point.@@@@1@19@@oe@2-2-2013
20605001@unknown@formal@none@1@S@UNDER A PROPOSAL by Democrats to expand Individual Retirement Accounts, a $2,000 contribution by a taxpayer in the 33% bracket would save $330 on his taxes.@@@@1@26@@oe@2-2-2013
20605002@unknown@formal@none@1@S@The savings was given incorrectly in Friday's edition.@@@@1@8@@oe@2-2-2013
20606001@unknown@formal@none@1@S@In what could prove a major addition to the Philippines' foreign-investment portfolio, a Taiwanese company signed a $180 million construction contract to build the centerpiece of a planned petrochemical complex.@@@@1@30@@oe@2-2-2013
20606002@unknown@formal@none@1@S@Taiwan's USI Far East Corp., a petrochemical company, initialed the agreement with an unidentified Japanese contractor to build a naphtha cracker, according to Alson Lee, who heads the Philippine company set up to build and operate the complex.@@@@1@38@@oe@2-2-2013
20606003@unknown@formal@none@1@S@Mr. Lee, president of Luzon Petrochemical Corp., said the contract was signed Wednesday in Tokyo with USI Far East officials.@@@@1@20@@oe@2-2-2013
20606004@unknown@formal@none@1@S@Contract details, however, haven't been made public.@@@@1@7@@oe@2-2-2013
20606005@unknown@formal@none@1@S@The complex is to be located in Batangas, about 70 miles south of Manila.@@@@1@14@@oe@2-2-2013
20606006@unknown@formal@none@1@S@USI Far East will hold a 60% stake in Luzon Petrochemical, according to papers signed with the Philippine government's Board of Investments.@@@@1@22@@oe@2-2-2013
20606007@unknown@formal@none@1@S@The proposed petrochemical plant would use naphtha to manufacture the petrochemicals propylene and ethylene and their resin derivatives, polypropylene and polyethylene.@@@@1@21@@oe@2-2-2013
20606008@unknown@formal@none@1@S@These are the raw materials used in making plastics.@@@@1@9@@oe@2-2-2013
20606009@unknown@formal@none@1@S@The contract signing represented a major step in the long-planned petrochemical project.@@@@1@12@@oe@2-2-2013
20606010@unknown@formal@none@1@S@At an estimated $360 million, the project would represent the single largest foreign investment in the Philippines since President Corazon Aquino took office in February 1986.@@@@1@26@@oe@2-2-2013
20606011@unknown@formal@none@1@S@It also is considered critical to the country's efforts to both attract other investment from Taiwan and raise heavy industry capabilities.@@@@1@21@@oe@2-2-2013
20606012@unknown@formal@none@1@S@The project has been in and out of the pipeline for more than a decade.@@@@1@15@@oe@2-2-2013
20606013@unknown@formal@none@1@S@However, workers can't break ground until legal maneuvers to block the complex are resolved, moves which caused the signing to remain questionable up to the last moment.@@@@1@27@@oe@2-2-2013
20606014@unknown@formal@none@1@S@As previously reported, a member of the Philippines' House of Representatives has sued to stop the plant.@@@@1@17@@oe@2-2-2013
20606015@unknown@formal@none@1@S@The legislator, Enrique Garcia, had actively backed the plant, but at the original site in his constituency northwest of Manila.@@@@1@20@@oe@2-2-2013
20606016@unknown@formal@none@1@S@The country's Supreme Court dismissed the suit, but Mr. Garcia late last month filed for a reconsideration.@@@@1@17@@oe@2-2-2013
20606017@unknown@formal@none@1@S@In addition, President Aquino has yet to sign into law a bill removing a stiff 48% tax on naphtha, the principal raw material to be used in the cracker.@@@@1@29@@oe@2-2-2013
20606018@unknown@formal@none@1@S@However, at a news conference Thursday, Mrs. Aquino backed the project and said her government was attempting to soothe the feelings of residents at the original site, adjacent to the government's major petroleum refinery in Bataan province.@@@@1@37@@oe@2-2-2013
20606019@unknown@formal@none@1@S@"We have tried our best to tell the people in Bataan that maybe this time it will not go to them, but certainly we will do our best to encourage other investors to go to their province," Mrs. Aquino told Manila-based foreign correspondents.@@@@1@43@@oe@2-2-2013
20606020@unknown@formal@none@1@S@The project appeared to be on the rocks earlier this month when the other major partner in the project, China General Plastics Corp., backed out.@@@@1@25@@oe@2-2-2013
20606021@unknown@formal@none@1@S@China General Plastics, another Taiwanese petrochemical manufacturer, was to have a 40% stake in Luzon Petrochemical.@@@@1@16@@oe@2-2-2013
20606022@unknown@formal@none@1@S@However, Mr. Lee said that USI Far East is confident other investors will take up the slack.@@@@1@17@@oe@2-2-2013
20606023@unknown@formal@none@1@S@He said USI Far East has applied to both the Asian Development Bank and the World Bank's International Finance Corp. for financing that could include equity stakes.@@@@1@27@@oe@2-2-2013
20607001@unknown@formal@none@1@S@Three new issues begin trading on the New York Stock Exchange today, and one began trading on the Nasdaq/National Market System last week.@@@@1@23@@oe@2-2-2013
20607002@unknown@formal@none@1@S@On the Big Board, Crawford & Co., Atlanta, (CFD) begins trading today.@@@@1@12@@oe@2-2-2013
20607003@unknown@formal@none@1@S@Crawford evaluates health care plans, manages medical and disability aspects of worker's compensation injuries and is involved in claims adjustments for insurance companies.@@@@1@23@@oe@2-2-2013
20607004@unknown@formal@none@1@S@Also beginning trading today on the Big Board are El Paso Refinery Limited Partnership, El Paso, Texas, (ELP) and Franklin Multi-Income Trust, San Mateo, Calif., (FMI).@@@@1@26@@oe@2-2-2013
20607005@unknown@formal@none@1@S@El Paso owns and operates a petroleum refinery.@@@@1@8@@oe@2-2-2013
20607006@unknown@formal@none@1@S@Franklin is a closed-end management investment company.@@@@1@7@@oe@2-2-2013
20607007@unknown@formal@none@1@S@On the Nasdaq over-the-counter system, Allied Capital Corp., Washington, D.C., (ALII) began trading last Thursday.@@@@1@15@@oe@2-2-2013
20607008@unknown@formal@none@1@S@Allied Capital is a closed-end management investment company that will operate as a business development concern.@@@@1@16@@oe@2-2-2013
20608001@unknown@formal@none@1@S@THE YALE POLITICAL UNION doesn't pay an honorarium to speakers.@@@@1@10@@oe@2-2-2013
20608002@unknown@formal@none@1@S@In Thursday's edition, it was incorrectly indicated that the union had paid a fee to former House Speaker Jim Wright.@@@@1@20@@oe@2-2-2013
20609001@unknown@formal@none@1@S@President Bush insists it would be a great tool for curbing the budget deficit and slicing the lard out of government programs.@@@@1@22@@oe@2-2-2013
20609002@unknown@formal@none@1@S@He wants it now.@@@@1@4@@oe@2-2-2013
20609003@unknown@formal@none@1@S@Not so fast, says Rep. Mickey Edwards of Oklahoma, a fellow Republican.@@@@1@12@@oe@2-2-2013
20609004@unknown@formal@none@1@S@"I consider it one of the stupidest ideas of the 20th century," he says.@@@@1@14@@oe@2-2-2013
20609005@unknown@formal@none@1@S@It's the line-item veto, a procedure that would allow the president to kill individual items in a big spending bill passed by Congress without vetoing the entire bill.@@@@1@28@@oe@2-2-2013
20609006@unknown@formal@none@1@S@Whatever one thinks of the idea, it's far more than the budgetary gimmick it may seem at first glance.@@@@1@19@@oe@2-2-2013
20609007@unknown@formal@none@1@S@Rather, it's a device that could send shock waves through the president's entire relationship with Democrats and Republicans alike in Congress, fundamentally enhance the power of the presidency and transform the way the government does its business.@@@@1@37@@oe@2-2-2013
20609008@unknown@formal@none@1@S@President Bush badly wants a line-item veto and has long called for a law giving it to the president.@@@@1@19@@oe@2-2-2013
20609009@unknown@formal@none@1@S@Now the White House is declaring that he might not rely on Congress -- which hasn't shown any willingness to surrender such authority -- to pass the line-item veto law he seeks.@@@@1@32@@oe@2-2-2013
20609010@unknown@formal@none@1@S@White House spokesmen last week said Mr. Bush is considering simply declaring that the Constitution gives him the power, exercising a line-item veto and inviting a court challenge to decide whether he has the right.@@@@1@35@@oe@2-2-2013
20609011@unknown@formal@none@1@S@Although that may sound like an arcane maneuver of little interest outside Washington, it would set off a political earthquake.@@@@1@20@@oe@2-2-2013
20609012@unknown@formal@none@1@S@"The ramifications are enormous," says Rep. Don Edwards, a California Democrat who is a senior member of the House Judiciary Committee.@@@@1@21@@oe@2-2-2013
20609013@unknown@formal@none@1@S@"It's a real face-to-face arm wrestling challenge to Congress."@@@@1@9@@oe@2-2-2013
20609014@unknown@formal@none@1@S@White House aides know it's a step that can't be taken lightly -- and for that reason, the president may back down from launching a test case this year.@@@@1@29@@oe@2-2-2013
20609015@unknown@formal@none@1@S@Some senior advisers argue that with further fights over a capital-gains tax cut and a budget-reduction bill looming, Mr. Bush already has enough pending confrontations with Congress.@@@@1@27@@oe@2-2-2013
20609016@unknown@formal@none@1@S@They prefer to put off the line-item veto until at least next year.@@@@1@13@@oe@2-2-2013
20609017@unknown@formal@none@1@S@Still, Mr. Bush and some other aides are strongly drawn to the idea of trying out a line-item veto.@@@@1@19@@oe@2-2-2013
20609018@unknown@formal@none@1@S@The issue arose last week when Vice President Dan Quayle told an audience in Chicago that Mr. Bush was looking for a test case.@@@@1@24@@oe@2-2-2013
20609019@unknown@formal@none@1@S@White House Press Secretary Marlin Fitzwater confirmed that Mr. Bush was interested in the idea, but cautioned that there wasn't a firm decision to try it.@@@@1@26@@oe@2-2-2013
20609020@unknown@formal@none@1@S@Mr. Bush, former President Reagan and a host of conservative activists have been arguing that a line-item veto would go a long way in restoring discipline to the budget process.@@@@1@30@@oe@2-2-2013
20609021@unknown@formal@none@1@S@They maintain that a president needs the ability to surgically remove pork-barrel spending projects that are attached to big omnibus spending bills.@@@@1@22@@oe@2-2-2013
20609022@unknown@formal@none@1@S@Those bills can't easily be vetoed in their entirety because they often are needed to keep the government operating.@@@@1@19@@oe@2-2-2013
20609023@unknown@formal@none@1@S@Conservatives note that 43 governors have the line-item veto to use on state budgets.@@@@1@14@@oe@2-2-2013
20609024@unknown@formal@none@1@S@More provocatively, some conservative legal theorists have begun arguing that Mr. Bush doesn't need to wait for a law giving him the veto because the power already is implicit in the Constitution.@@@@1@32@@oe@2-2-2013
20609025@unknown@formal@none@1@S@They base their argument on a clause buried in Article I, Section 7, of the Constitution that states: "Every order, resolution, or vote to which the concurrence of the Senate and House of Representatives may be necessary (except on a question of adjournment) shall be presented to the President of the United States; and before the same shall take effect, shall be approved by him or . . . disapproved by him. . . ."@@@@1@75@@oe@2-2-2013
20609026@unknown@formal@none@1@S@This clause, they argue, is designed to go beyond an earlier clause specifying that the president can veto a "bill," and is broad enough to allow him to strike out items and riders within bills.@@@@1@35@@oe@2-2-2013
20609027@unknown@formal@none@1@S@Senate Minority Leader Robert Dole (R., Kan.), for one, accepts this argument and earlier this year publicly urged Mr. Bush "to use the line-item veto and allow the courts to decide whether or not it is constitutional."@@@@1@37@@oe@2-2-2013
20609028@unknown@formal@none@1@S@There's little doubt that such a move would be immediately challenged in court -- and that it would quickly make its way to the Supreme Court to be ultimately resolved.@@@@1@30@@oe@2-2-2013
20609029@unknown@formal@none@1@S@"It's a major issue, and they wouldn't want to leave it at a lower level," says Stephen Glazier, a New York attorney whose writings have been instrumental in pushing the idea that a president already has a line-item veto.@@@@1@39@@oe@2-2-2013
20609030@unknown@formal@none@1@S@Rep. Edwards, the California Democrat, is one who pledges that he would immediately challenge Mr. Bush in the courts, arguing a line-item veto would expand a president's powers far beyond anything the framers of the Constitution had in mind.@@@@1@39@@oe@2-2-2013
20609031@unknown@formal@none@1@S@"It puts this president in the legislative business," he declares.@@@@1@10@@oe@2-2-2013
20609032@unknown@formal@none@1@S@"That's not what our fathers had in mind."@@@@1@8@@oe@2-2-2013
20609033@unknown@formal@none@1@S@In addition to giving a president powers to rewrite spending bills meant to be written in Congress, Rep. Edwards argues, a line-item veto would allow the chief executive to blackmail lawmakers.@@@@1@31@@oe@2-2-2013
20609034@unknown@formal@none@1@S@He notes that, as a lawmaker from the San Francisco area, he fights each year to preserve federal funds for the Bay Area Rapid Transit system.@@@@1@26@@oe@2-2-2013
20609035@unknown@formal@none@1@S@If a president had a line-item veto and wanted to force him to support a controversial foreign-policy initiative, Rep. Edwards says, the president could call and declare that he would single-handedly kill the BART funds unless the congressman "shapes up" on the foreign-policy issue.@@@@1@44@@oe@2-2-2013
20609036@unknown@formal@none@1@S@Proponents maintain that a president would choose to use a line-item veto more judiciously than that.@@@@1@16@@oe@2-2-2013
20609037@unknown@formal@none@1@S@But there may be another problem with the device: Despite all the political angst it would cause, it mightn't be effective in cutting the deficit.@@@@1@25@@oe@2-2-2013
20609038@unknown@formal@none@1@S@Big chunks of the government budget, like the entitlement programs of Social Security and Medicare, wouldn't be affected.@@@@1@18@@oe@2-2-2013
20609039@unknown@formal@none@1@S@Governors have found that they have to use the device sparingly to maintain political comity.@@@@1@15@@oe@2-2-2013
20609040@unknown@formal@none@1@S@And it isn't even clear that some pork-barrel projects can be hit with a line-item veto because they tend to be listed in informal conference reports accompanying spending bills rather than in the official bills themselves.@@@@1@36@@oe@2-2-2013
20609041@unknown@formal@none@1@S@Still, proponents contend that the veto would have what Mr. Glazier calls an important "chilling effect" on all manner of appropriations bills.@@@@1@22@@oe@2-2-2013
20609042@unknown@formal@none@1@S@Lawmakers, they say, would avoid putting many spending projects into legislation in the first place for fear of the embarrassment of having them singled out for a line-item veto later.@@@@1@30@@oe@2-2-2013
20609043@unknown@formal@none@1@S@Whatever the outcome of a test case, President Bush would have to move cautiously becase the very attempt would "antagonize not just Democrats but Republicans," says Louis Fisher, a scholar at the Congressional Research Service who specializes in executive-legislative relations.@@@@1@40@@oe@2-2-2013
20609044@unknown@formal@none@1@S@Republicans have as much interest as Democrats in "the way the system works," he notes.@@@@1@15@@oe@2-2-2013
20609045@unknown@formal@none@1@S@Indeed, although a majority of Republican lawmakers favor a line-item veto, some, ranging from liberal Oregon Sen. Mark Hatfield to conservative Rep. Edwards are opposed.@@@@1@25@@oe@2-2-2013
20609046@unknown@formal@none@1@S@Rep. Edwards voices the traditional conservative view that it's a mistake to put too much power in the hands of a single person.@@@@1@23@@oe@2-2-2013
20609047@unknown@formal@none@1@S@Conservatives pushing for a line-item veto now, he notes, may regret it later: "Sometime, you're going to have a Democratic president again" who'll use his expanded powers against those very same conservatives.@@@@1@32@@oe@2-2-2013
20609048@unknown@formal@none@1@S@"Every order, resolution, or vote to which the concurrence of the Senate and House of Representatives may be necessary (except on a question of adjournment) shall be presented to the President of the United States; and before the same shall take effect, shall be approved by him, or being disapproved by him, shall be repassed by two-thirds of the Senate and House of Representatives, according to the rules and limitations prescribed in the case of a bill."@@@@1@77@@oe@2-2-2013
20610001@unknown@formal@none@1@S@This hasn't been Kellogg Co.'s year.@@@@1@6@@oe@2-2-2013
20610002@unknown@formal@none@1@S@The oat-bran craze has cost the world's largest cereal maker market share.@@@@1@12@@oe@2-2-2013
20610003@unknown@formal@none@1@S@The company's president quit suddenly.@@@@1@5@@oe@2-2-2013
20610004@unknown@formal@none@1@S@And now Kellogg is indefinitely suspending work on what was to be a $1 billion cereal plant.@@@@1@17@@oe@2-2-2013
20610005@unknown@formal@none@1@S@The company said it was delaying construction because of current market conditions.@@@@1@12@@oe@2-2-2013
20610006@unknown@formal@none@1@S@But the Memphis, Tenn., facility wasn't to begin turning out product until 1993, so the decision may reveal a more pessimistic long-term outlook as well.@@@@1@25@@oe@2-2-2013
20610007@unknown@formal@none@1@S@Kellogg, which hasn't been as successful in capitalizing on the public's health-oriented desire for oat bran as rival General Mills Inc., has been losing share in the $6 billion ready-to-eat cereal market.@@@@1@32@@oe@2-2-2013
20610008@unknown@formal@none@1@S@Kellogg's current share is believed to be slightly under 40% while General Mills' share is about 27%.@@@@1@17@@oe@2-2-2013
20610009@unknown@formal@none@1@S@Led by its oat-based Cheerios line, General Mills has gained an estimated 2% share so far this year, mostly at the expense of Kellogg.@@@@1@24@@oe@2-2-2013
20610010@unknown@formal@none@1@S@Each share point is worth about $60 million in sales.@@@@1@10@@oe@2-2-2013
20610011@unknown@formal@none@1@S@Analysts say much of Kellogg's erosion has been in such core brands as Corn Flakes, Rice Krispies and Frosted Flakes, which represent nearly one-third of its sales volume.@@@@1@28@@oe@2-2-2013
20610012@unknown@formal@none@1@S@Kellogg is so anxious to turn around Corn Flakes sales that it soon will begin selling boxes for as little as 99 cents, trade sources say.@@@@1@26@@oe@2-2-2013
20610013@unknown@formal@none@1@S@"Cheerios and Honey Nut Cheerios have eaten away sales normally going to Kellogg's corn-based lines simply because they are made of oats," says Merrill Lynch food analyst William Maguire.@@@@1@29@@oe@2-2-2013
20610014@unknown@formal@none@1@S@"They are not a happy group of people at Battle Creek right now."@@@@1@13@@oe@2-2-2013
20610015@unknown@formal@none@1@S@Kellogg is based in Battle Creek, Mich., a city that calls itself the breakfast capital of the world.@@@@1@18@@oe@2-2-2013
20610016@unknown@formal@none@1@S@Another analyst, John C. Maxwell Jr. of Wheat, First Securities in Richmond, Va., recently went to a "sell" recommendation on Kellogg stock, which closed Friday at $71.75, down 75 cents, in New York Stock Exchange composite trading.@@@@1@37@@oe@2-2-2013
20610017@unknown@formal@none@1@S@"I don't think Kellogg can get back to 40% this year," he said.@@@@1@13@@oe@2-2-2013
20610018@unknown@formal@none@1@S@"Kellogg's main problem is life style.@@@@1@6@@oe@2-2-2013
20610019@unknown@formal@none@1@S@People are reading the boxes and deciding they want something that's `healthy' for you -- oats, bran."@@@@1@17@@oe@2-2-2013
20610020@unknown@formal@none@1@S@Mr. Maxwell said he wouldn't be surprised if, over the next two years or so, General Mills' share increased to 30% or more.@@@@1@23@@oe@2-2-2013
20610021@unknown@formal@none@1@S@In announcing the plant delay, Kellogg Chairman William E. LaMothe said, "Cereal volume growth in the U.S. has not met our expectations for 1989."@@@@1@24@@oe@2-2-2013
20610022@unknown@formal@none@1@S@He said construction wouldn't resume until market conditions warrant it.@@@@1@10@@oe@2-2-2013
20610023@unknown@formal@none@1@S@Kellogg indicated that it has room to grow without adding facilities.@@@@1@11@@oe@2-2-2013
20610024@unknown@formal@none@1@S@The company has five other U.S. plants, including a modern facility at its Battle Creek headquarters known as Building 100, which is to add bran-processing and rice-processing capacity next year.@@@@1@30@@oe@2-2-2013
20610025@unknown@formal@none@1@S@General Mills, meanwhile, finds itself constrained from boosting sales further because its plants are operating at capacity.@@@@1@17@@oe@2-2-2013
20610026@unknown@formal@none@1@S@A large plant in Covington, Ga., is to come on line next year.@@@@1@13@@oe@2-2-2013
20610027@unknown@formal@none@1@S@A Kellogg officer, who asked not to be named, said the Memphis project was "pulled in for a reconsideration of costs," an indication that the ambitious plans might be scaled back in any future construction.@@@@1@35@@oe@2-2-2013
20610028@unknown@formal@none@1@S@Initial cost estimates for the plant, which was to have been built in phases, ranged from $1 billion to $1.2 billion.@@@@1@21@@oe@2-2-2013
20610029@unknown@formal@none@1@S@A company spokesman said it was "possible, but highly unlikely," that the plant might never be built.@@@@1@17@@oe@2-2-2013
20610030@unknown@formal@none@1@S@"As we regain our leadership level where we have been, and as we continue to put new products into the marketplace and need additional capacity, we will look at resuming our involvement with our plan," he said.@@@@1@37@@oe@2-2-2013
20610031@unknown@formal@none@1@S@The new facility was to have been the world's most advanced cereal manufacturing plant, and Kellogg's largest construction project.@@@@1@19@@oe@2-2-2013
20610032@unknown@formal@none@1@S@The company had retained the Fluor Daniel unit of Fluor Corp. as general contractor.@@@@1@14@@oe@2-2-2013
20610033@unknown@formal@none@1@S@But in recent weeks, construction-industry sources reported that early preparation work was slowing at the 185-acre site.@@@@1@17@@oe@2-2-2013
20610034@unknown@formal@none@1@S@Subcontractors said they were told that equipment orders would be delayed.@@@@1@11@@oe@2-2-2013
20610035@unknown@formal@none@1@S@Fluor Daniel already has reassigned most of its work crew, the sources said.@@@@1@13@@oe@2-2-2013
20610036@unknown@formal@none@1@S@Last Friday's announcement was the first official word that the project was in trouble and that the company's plans for a surge in market share may have been overly optimistic.@@@@1@30@@oe@2-2-2013
20610037@unknown@formal@none@1@S@Until recently, Kellogg had been telling its sales force and Wall Street that by 1992 it intended to achieve a 50% share of market, measured in dollar volume.@@@@1@28@@oe@2-2-2013
20610038@unknown@formal@none@1@S@Although he called current market conditions "highly competitive," Mr. LaMothe, Kellogg's chairman and chief executive officer, forecast an earnings increase for the full year.@@@@1@24@@oe@2-2-2013
20610039@unknown@formal@none@1@S@Last year, the company earned $480.4 million, or $3.90 a share, on sales of $4.3 billion.@@@@1@16@@oe@2-2-2013
20610040@unknown@formal@none@1@S@As expected, Kellogg reported lower third-quarter earnings.@@@@1@7@@oe@2-2-2013
20610041@unknown@formal@none@1@S@Net fell 16% to $123.1 million, or $1.02 a share, from $145.7 million, or $1.18 a share.@@@@1@17@@oe@2-2-2013
20610042@unknown@formal@none@1@S@Sales rose 4.8% to $1.20 billion from $1.14 billion.@@@@1@9@@oe@2-2-2013
20610043@unknown@formal@none@1@S@The company had a one-time charge of $14.8 million in the latest quarter covering the disposition of certain assets.@@@@1@19@@oe@2-2-2013
20610044@unknown@formal@none@1@S@The company wouldn't elaborate, citing competitive reasons.@@@@1@7@@oe@2-2-2013
20611001@unknown@formal@none@1@S@PARKER HANNIFIN Corp., which is selling three automotive replacement parts divisions, said it will retain its Automotive Connectors and Cliff Impact divisions.@@@@1@22@@oe@2-2-2013
20611002@unknown@formal@none@1@S@The divisions that Parker Hannifin is retaining weren't mentioned in Thursday's edition.@@@@1@12@@oe@2-2-2013
20612001@unknown@formal@none@1@S@The following were among Friday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
20612002@unknown@formal@none@1@S@Sun Microsystems Inc. -- $125 million of 6 3/8% convertible subordinated debentures due Oct. 15, 1999, priced at 84.90 to yield 7.51%.@@@@1@22@@oe@2-2-2013
20612003@unknown@formal@none@1@S@The debentures are convertible into common stock at $25 a share, representing a 24% conversion premium over Thursday's closing price.@@@@1@20@@oe@2-2-2013
20612004@unknown@formal@none@1@S@Rated single-B-1 by Moody's Investors Service Inc. and single-B-plus by Standard & Poor's Corp., the issue will be sold through underwriters led by Goldman, Sachs & Co.@@@@1@27@@oe@2-2-2013
20612005@unknown@formal@none@1@S@Hertz Corp. -- $100 million of senior notes due Nov. 1, 2009, priced at par to yield 9%.@@@@1@18@@oe@2-2-2013
20612006@unknown@formal@none@1@S@The issue, which is puttable back to the company in 1999, was priced at a spread of 110 basis points above the Treasury's 10-year note.@@@@1@25@@oe@2-2-2013
20612007@unknown@formal@none@1@S@Rated single-A-3 by Moody's and triple-B by S&P, the issue will be sold through underwriters led by Merrill Lynch Capital Markets.@@@@1@21@@oe@2-2-2013
20612008@unknown@formal@none@1@S@Canadian Imperial Bank of Commerce (Canada) -- 10 billion yen of 5.7% bonds due Nov. 17, 1992, priced at 101 1/4 to yield 5.75% less full fees, via LTCB International Ltd.@@@@1@31@@oe@2-2-2013
20612009@unknown@formal@none@1@S@Fees 1 3/8.@@@@1@3@@oe@2-2-2013
20613001@unknown@formal@none@1@S@The Singapore and Kuala Lumpur stock exchanges are bracing for a turbulent separation, following Malaysian Finance Minister Daim Zainuddin's long-awaited announcement that the exchanges will sever ties.@@@@1@27@@oe@2-2-2013
20613002@unknown@formal@none@1@S@On Friday, Datuk Daim added spice to an otherwise unremarkable address on Malaysia's proposed budget for 1990 by ordering the Kuala Lumpur Stock Exchange "to take appropriate action immediately" to cut its links with the Stock Exchange of Singapore.@@@@1@39@@oe@2-2-2013
20613003@unknown@formal@none@1@S@The delisting of Malaysian-based companies from the Singapore exchange may not be a smooth process, analysts say.@@@@1@17@@oe@2-2-2013
20613004@unknown@formal@none@1@S@Though the split has long been expected, the exchanges aren't fully prepared to go their separate ways.@@@@1@17@@oe@2-2-2013
20613005@unknown@formal@none@1@S@The finance minister's order wasn't sparked by a single event and doesn't indicate a souring in relations between the neighboring countries.@@@@1@21@@oe@2-2-2013
20613006@unknown@formal@none@1@S@Rather, the two closely linked exchanges have been drifting apart for some years, with a nearly five-year-old moratorium on new dual listings, separate and different listing requirements, differing trading and settlement guidelines and diverging national-policy aims.@@@@1@36@@oe@2-2-2013
20614001@unknown@formal@none@1@S@QUANTUM CHEMICAL Corp.'s plant in Morris, Ill., is expected to resume production in early 1990.@@@@1@15@@oe@2-2-2013
20614002@unknown@formal@none@1@S@The year was misstated in Friday's editions.@@@@1@7@@oe@2-2-2013
20615001@unknown@formal@none@1@S@Italy's trade deficit narrowed to 2.007 trillion lire ($1.49 billion) in September from 2.616 trillion lire a year earlier, the state statistical office Istat said.@@@@1@25@@oe@2-2-2013
20615002@unknown@formal@none@1@S@The deficit was 466 billion lire in August.@@@@1@8@@oe@2-2-2013
20615003@unknown@formal@none@1@S@For the first nine months, the trade deficit was 14.933 trillion lire, compared with 10.485 trillion lire in the year-earlier period.@@@@1@21@@oe@2-2-2013
20615004@unknown@formal@none@1@S@Istat said the statistics are provisional and aren't seasonally adjusted.@@@@1@10@@oe@2-2-2013
20615005@unknown@formal@none@1@S@Imports rose 11% to 18.443 trillion lire in September from a year earlier, while exports rose 17% to 16.436 trillion lire.@@@@1@21@@oe@2-2-2013
20615006@unknown@formal@none@1@S@In the nine months, imports rose 20% to 155.039 trillion lire, while exports grew 18% to 140.106 trillion lire.@@@@1@19@@oe@2-2-2013
20615007@unknown@formal@none@1@S@Import values are calculated on a cost, insurance and freight (c.i.f.) basis, while exports are accounted for on a free-on-board (f.o.b.) basis.@@@@1@22@@oe@2-2-2013
20616001@unknown@formal@none@1@S@As competition heats up in Spain's crowded bank market, Banco Exterior de Espana is seeking to shed its image of a state-owned bank and move into new activities.@@@@1@28@@oe@2-2-2013
20616002@unknown@formal@none@1@S@Under the direction of its new chairman, Francisco Luzon, Spain's seventh largest bank is undergoing a tough restructuring that analysts say may be the first step toward the bank's privatization.@@@@1@30@@oe@2-2-2013
20616003@unknown@formal@none@1@S@The state-owned industrial holding company Instituto Nacional de Industria and the Bank of Spain jointly hold a 13.94% stake in Banco Exterior.@@@@1@22@@oe@2-2-2013
20616004@unknown@formal@none@1@S@The government directly owns 51.4% and Factorex, a financial services company, holds 8.42%.@@@@1@13@@oe@2-2-2013
20616005@unknown@formal@none@1@S@The rest is listed on Spanish stock exchanges.@@@@1@8@@oe@2-2-2013
20616006@unknown@formal@none@1@S@Some analysts are concerned, however, that Banco Exterior may have waited too long to diversify from its traditional export-related activities.@@@@1@20@@oe@2-2-2013
20616007@unknown@formal@none@1@S@Catching up with commercial competitors in retail banking and financial services, they argue, will be difficult, particularly if market conditions turn sour.@@@@1@22@@oe@2-2-2013
20616008@unknown@formal@none@1@S@If that proves true, analysts say Banco Exterior could be a prime partner -- or even a takeover target -- for either a Spanish or foreign bank seeking to increase its market share after 1992, when the European Community plans to dismantle financial barriers.@@@@1@44@@oe@2-2-2013
20616009@unknown@formal@none@1@S@With 700 branches in Spain and 12 banking subsidiaries, five branches and 12 representative offices abroad, the Banco Exterior group has a lot to offer a potential suitor.@@@@1@28@@oe@2-2-2013
20616010@unknown@formal@none@1@S@Mr. Luzon and his team, however, say they aren't interested in a merger.@@@@1@13@@oe@2-2-2013
20616011@unknown@formal@none@1@S@Instead, they are working to transform Banco Exterior into an efficient bank by the end of 1992.@@@@1@17@@oe@2-2-2013
20616012@unknown@formal@none@1@S@"I want this to be a model of the way a public-owned company should be run," Mr. Luzon says.@@@@1@19@@oe@2-2-2013
20616013@unknown@formal@none@1@S@Banco Exterior was created in 1929 to provide subsidized credits for Spanish exports.@@@@1@13@@oe@2-2-2013
20616014@unknown@formal@none@1@S@The market for export financing was liberalized in the mid-1980s, however, forcing the bank to face competition.@@@@1@17@@oe@2-2-2013
20616015@unknown@formal@none@1@S@At the same time, many of Spain's traditional export markets in Latin America and other developing areas faced a sharp decline in economic growth.@@@@1@24@@oe@2-2-2013
20616016@unknown@formal@none@1@S@As a result, the volume of Banco Exterior's export credit portfolio plunged from 824 billion pesatas ($7.04 billion) as of Dec. 31, 1986, to its current 522 billion pesetas.@@@@1@29@@oe@2-2-2013
20616017@unknown@formal@none@1@S@The other two main pillars of Banco Exterior's traditional business -- wholesale banking and foreign currency trading -- also began to crumble under the weight of heavy competition and changing client needs.@@@@1@32@@oe@2-2-2013
20616018@unknown@formal@none@1@S@The bank was hamstrung in its efforts to face the challenges of a changing market by its links to the government, analysts say.@@@@1@23@@oe@2-2-2013
20616019@unknown@formal@none@1@S@Until Mr. Luzon took the helm last November, Banco Exterior was run by politicians who lacked either the skills or the will to introduce innovative changes.@@@@1@26@@oe@2-2-2013
20616020@unknown@formal@none@1@S@But Mr. Luzon has moved swiftly to streamline bureaucracy, cut costs, increase capital and build up new areas of business.@@@@1@20@@oe@2-2-2013
20616021@unknown@formal@none@1@S@"We've got a lot to do," he acknowledged.@@@@1@8@@oe@2-2-2013
20616022@unknown@formal@none@1@S@"We've got to move quickly."@@@@1@5@@oe@2-2-2013
20616023@unknown@formal@none@1@S@In Mr. Luzon's first year, the bank eliminated 800 jobs.@@@@1@10@@oe@2-2-2013
20616024@unknown@formal@none@1@S@Now it says it'll trim another 1,200 jobs over the next three to four years.@@@@1@15@@oe@2-2-2013
20616025@unknown@formal@none@1@S@The bank employs 8,000 people in Spain and 2,000 abroad.@@@@1@10@@oe@2-2-2013
20616026@unknown@formal@none@1@S@To strengthen its capital base, Banco Exterior this year issued $105 million in subordinated debt, launched two rights issues and sold stock held in its treasury to small investors.@@@@1@29@@oe@2-2-2013
20616027@unknown@formal@none@1@S@The bank is now aggressively marketing retail services at its domestic branches.@@@@1@12@@oe@2-2-2013
20616028@unknown@formal@none@1@S@Last year's drop in export credit was partially offset by a 15% surge in lending to individuals and small and medium-sized companies.@@@@1@22@@oe@2-2-2013
20616029@unknown@formal@none@1@S@Though Spain has an excess of banks, analysts say the country still has one of the most profitable markets in Europe, which will aid Banco Exterior with the tough tasks it faces ahead.@@@@1@33@@oe@2-2-2013
20616030@unknown@formal@none@1@S@Expansion plans also include acquisitions in growing foreign markets.@@@@1@9@@oe@2-2-2013
20616031@unknown@formal@none@1@S@The bank says it's interested in purchasing banks in Morocco, Portugal and Puerto Rico.@@@@1@14@@oe@2-2-2013
20616032@unknown@formal@none@1@S@But the bank's retail activities in Latin America are likely to be cut back.@@@@1@14@@oe@2-2-2013
20616033@unknown@formal@none@1@S@Banco Exterior was one of the last banks to create a brokerage house before the four Spanish stock exchanges underwent sweeping changes in July.@@@@1@24@@oe@2-2-2013
20616034@unknown@formal@none@1@S@The late start may be a handicap for the bank as Spain continues to open up its market to foreign competition.@@@@1@21@@oe@2-2-2013
20616035@unknown@formal@none@1@S@But Mr. Luzon contends that the experienced team he brought with him from Banco Bilbao Vizcaya, where he was formerly director general, will whip the bank's capital market division into shape by the end of 1992.@@@@1@36@@oe@2-2-2013
20616036@unknown@formal@none@1@S@The bank also says it'll use its international network to channel investment from London, Frankfurt, Zurich and Paris into the Spanish stock exchanges.@@@@1@23@@oe@2-2-2013
20617001@unknown@formal@none@1@S@General Motors Corp.'s general counsel hopes to cut the number of outside law firms the auto maker uses from about 700 to 200 within two years.@@@@1@26@@oe@2-2-2013
20617002@unknown@formal@none@1@S@Harry J. Pearce, named general counsel in May 1987, says the reduction is a cost-cutting measure and an effort to let the No. 1 auto maker's 134-lawyer in-house legal department take on matters it is better equipped and trained to handle.@@@@1@41@@oe@2-2-2013
20617003@unknown@formal@none@1@S@GM trimmed about 40 firms from its approved local counsel list, Mr. Pearce says.@@@@1@14@@oe@2-2-2013
20617004@unknown@formal@none@1@S@The move is consistent with a trend for corporate legal staffs to do more work in-house, instead of farming it out to law firms.@@@@1@24@@oe@2-2-2013
20617005@unknown@formal@none@1@S@Mr. Pearce set up GM's first in-house litigation group in May with four lawyers, all former assistant U.S. attorneys with extensive trial experience.@@@@1@23@@oe@2-2-2013
20617006@unknown@formal@none@1@S@He intends to add to the litigation staff.@@@@1@8@@oe@2-2-2013
20617007@unknown@formal@none@1@S@Among the types of cases the in-house litigators handle are disputes involving companies doing business with GM and product-related actions, including one in which a driver is suing GM for damages resulting from an accident.@@@@1@35@@oe@2-2-2013
20617008@unknown@formal@none@1@S@Mr. Pearce has also encouraged his staff to work more closely with GM's technical staffs to help prevent future litigation.@@@@1@20@@oe@2-2-2013
20617009@unknown@formal@none@1@S@GM lawyers have been working with technicians to develop more uniform welding procedures -- the way a vehicle is welded has a lot to do with its durability.@@@@1@28@@oe@2-2-2013
20617010@unknown@formal@none@1@S@The lawyers also monitor suits to identify specific automobile parts that cause the biggest legal problems.@@@@1@16@@oe@2-2-2013
20617011@unknown@formal@none@1@S@Mr. Pearce says law firms with the best chance of retaining or winning business with GM will be those providing the highest-quality service at the best cost -- echoing similar directives from GM's auto operations to suppliers.@@@@1@37@@oe@2-2-2013
20617012@unknown@formal@none@1@S@This doesn't necessarily mean larger firms have an advantage; Mr. Pearce said GM works with a number of smaller firms it regards highly.@@@@1@23@@oe@2-2-2013
20617013@unknown@formal@none@1@S@Mr. Pearce has shaken up GM's legal staff by eliminating all titles and establishing several new functions, including a special-projects group that has made films on safety and drunk driving.@@@@1@30@@oe@2-2-2013
20617014@unknown@formal@none@1@S@FEDERAL PROSECUTORS are concluding fewer criminal cases with trials.@@@@1@9@@oe@2-2-2013
20617015@unknown@formal@none@1@S@That's a finding of a new study of the Justice Department by researchers at Syracuse University.@@@@1@16@@oe@2-2-2013
20617016@unknown@formal@none@1@S@David Burnham, one of the authors, says fewer trials probably means a growing number of plea bargains.@@@@1@17@@oe@2-2-2013
20617017@unknown@formal@none@1@S@In 1980, 18% of federal prosecutions concluded at trial; in 1987, only 9% did.@@@@1@14@@oe@2-2-2013
20617018@unknown@formal@none@1@S@The study covered 11 major U.S. attorneys' offices -- including those in Manhattan and Brooklyn, N.Y., and New Jersey -- from 1980 to 1987.@@@@1@24@@oe@2-2-2013
20617019@unknown@formal@none@1@S@The Justice Department rejected the implication that its prosecutors are currently more willing to plea bargain.@@@@1@16@@oe@2-2-2013
20617020@unknown@formal@none@1@S@"Our felony caseloads have been consistent for 20 years," with about 15% of all prosecutions going to trial, a department spokeswoman said.@@@@1@22@@oe@2-2-2013
20617021@unknown@formal@none@1@S@The discrepancy is somewhat perplexing in that the Syracuse researchers said they based their conclusions on government statistics.@@@@1@18@@oe@2-2-2013
20617022@unknown@formal@none@1@S@"One possible explanation for this decline" in taking cases to trial, says Mr. Burnham, "is that the number of defendants being charged with crimes by all U.S. attorneys has substantially increased."@@@@1@31@@oe@2-2-2013
20617023@unknown@formal@none@1@S@In 1980, the study says, prosecutors surveyed filed charges against 25 defendants for each 100,000 people aged 18 years and older.@@@@1@21@@oe@2-2-2013
20617024@unknown@formal@none@1@S@In 1987, prosecutors filed against 35 defendants for every 100,000 adults.@@@@1@11@@oe@2-2-2013
20617025@unknown@formal@none@1@S@Another finding from the study: Prosecutors set significantly different priorities.@@@@1@10@@oe@2-2-2013
20617026@unknown@formal@none@1@S@The Manhattan U.S. attorney's office stressed criminal cases from 1980 to 1987, averaging 43 for every 100,000 adults.@@@@1@18@@oe@2-2-2013
20617027@unknown@formal@none@1@S@But the New Jersey U.S. attorney averaged 16.@@@@1@8@@oe@2-2-2013
20617028@unknown@formal@none@1@S@On the civil side, the Manhattan prosecutor filed an average of only 11 cases for every 100,000 adults during the same period; the San Francisco U.S. attorney averaged 79.@@@@1@29@@oe@2-2-2013
20617029@unknown@formal@none@1@S@The study is to provide reporters, academic experts and others raw data on which to base further inquiries.@@@@1@18@@oe@2-2-2013
20617030@unknown@formal@none@1@S@IMELDA MARCOS asks for dismissal, says she was kidnapped.@@@@1@9@@oe@2-2-2013
20617031@unknown@formal@none@1@S@The former first lady of the Philippines, asked a federal court in Manhattan to dismiss an indictment against her, claiming among other things, that she was abducted from her homeland.@@@@1@30@@oe@2-2-2013
20617032@unknown@formal@none@1@S@Mrs. Marcos and her late husband, former Philippines President Ferdinand Marcos, were charged with embezzling more than $100 million from that country and then fraudulently concealing much of the money through purchases of prime real estate in Manhattan.@@@@1@38@@oe@2-2-2013
20617033@unknown@formal@none@1@S@Mrs. Marcos's attorneys asked federal Judge John F. Keenan to give them access to all U.S. documents about her alleged abduction.@@@@1@21@@oe@2-2-2013
20617034@unknown@formal@none@1@S@The U.S. attorney's office, in documents it filed in response, said Mrs. Marcos was making the "fanciful -- and factually unsupported -- claim that she was kidnapped into this country" in order to obtain classified material in the case.@@@@1@39@@oe@2-2-2013
20617035@unknown@formal@none@1@S@The office also said Mrs. Marcos and her husband weren't brought to the U.S. against their will after Mr. Marcos was ousted as president.@@@@1@24@@oe@2-2-2013
20617036@unknown@formal@none@1@S@The prosecutor quoted statements from the Marcoses in which they said they were in this country at the invitation of President Reagan and that they were enjoying the hospitality of the U.S.@@@@1@32@@oe@2-2-2013
20617037@unknown@formal@none@1@S@Lawyers for Mrs. Marcos say that because she was taken to the U.S. against her wishes, the federal court lacks jurisdiction in the case.@@@@1@24@@oe@2-2-2013
20617038@unknown@formal@none@1@S@THE FEDERAL COURT of appeals in Manhattan ruled that the dismissal of a 1980 indictment against former Bank of Crete owner George Koskotas should be reconsidered.@@@@1@26@@oe@2-2-2013
20617039@unknown@formal@none@1@S@The indictment, which was sealed and apparently forgotten by investigators until 1987, charges Mr. Koskotas and three others with tax fraud and other violations.@@@@1@24@@oe@2-2-2013
20617040@unknown@formal@none@1@S@He made numerous trips to the U.S. in the early 1980s, but wasn't arrested until 1987 when he showed up as a guest of then-Vice President George Bush at a government function.@@@@1@32@@oe@2-2-2013
20617041@unknown@formal@none@1@S@A federal judge in Manhattan threw out the indictment, finding that the seven-year delay violated the defendant's constitutional right to a speedy trial.@@@@1@23@@oe@2-2-2013
20617042@unknown@formal@none@1@S@The appeals court, however, said the judge didn't adequately consider whether the delay would actually hurt the chances of a fair trial.@@@@1@22@@oe@2-2-2013
20617043@unknown@formal@none@1@S@Mr. Koskotas is fighting extradition proceedings that would return him to Greece, where he is charged with embezzling more than $250 million from the Bank of Crete.@@@@1@27@@oe@2-2-2013
20617044@unknown@formal@none@1@S@His attorney couldn't be reached for comment.@@@@1@7@@oe@2-2-2013
20617045@unknown@formal@none@1@S@PRO BONO VOLUNTARISM: In an effort to stave off a plan that would require all lawyers in New York state to provide twenty hours of free legal aid a year, the state bar recommended an alternative program to increase voluntary participation in pro bono programs.@@@@1@45@@oe@2-2-2013
20617046@unknown@formal@none@1@S@The state bar association's policy making body, the House of Delegate, voted Saturday to ask Chief Judge Sol Wachtler to give the bar's voluntary program three years to prove its effectiveness before considering mandatory pro bono.@@@@1@36@@oe@2-2-2013
20617047@unknown@formal@none@1@S@"We believe our suggested plan is more likely to improve the availability of quality legal service to the poor than is the proposed mandatory pro bono plan and will achieve that objective without the divisiveness, distraction, administrative burdens and possible failure that we fear would accompany an attempt to impose a mandatory plan," said Justin L. Vigdor of Rochester, who headed the bar's pro bono study committee.@@@@1@67@@oe@2-2-2013
20617048@unknown@formal@none@1@S@DALLAS AND HOUSTON law firms merge: Jackson & Walker, a 130-lawyer firm in Dallas and Datson & Scofield, a 70-lawyer firm in Houston said they have agreed in principle to merge.@@@@1@31@@oe@2-2-2013
20617049@unknown@formal@none@1@S@The consolidated firm, which would rank among the 10 largest in Texas, would operate under the name Jackson & Walker.@@@@1@20@@oe@2-2-2013
20617050@unknown@formal@none@1@S@The merger must be formally approved by the partners of both firms but is expected to be completed by year end.@@@@1@21@@oe@2-2-2013
20617051@unknown@formal@none@1@S@Jackson & Walker has an office in Fort Worth, Texas, and Dotson & Scofield has an office in New Orleans.@@@@1@20@@oe@2-2-2013
20617052@unknown@formal@none@1@S@PILING ON?@@@@1@2@@oe@2-2-2013
20617053@unknown@formal@none@1@S@Piggybacking on government assertions that General Electric Co. may have covered up fraudulent billings to the Pentagon, two shareholders have filed a civil racketeering suit against the company.@@@@1@28@@oe@2-2-2013
20617054@unknown@formal@none@1@S@The suit was filed by plaintiffs' securities lawyer Richard D. Greenfield in U.S. District Court in Philadelphia.@@@@1@17@@oe@2-2-2013
20617055@unknown@formal@none@1@S@He seeks damages from the company's 15 directors on grounds that they either "participated in or condoned the illegal acts . . . or utterly failed to carry out their duties as directors."@@@@1@33@@oe@2-2-2013
20617056@unknown@formal@none@1@S@GE is defending itself against government criminal charges of fraud and false claims in connection with a logistics-computer contract for the Army.@@@@1@22@@oe@2-2-2013
20617057@unknown@formal@none@1@S@The trial begins today in federal court in Philadelphia.@@@@1@9@@oe@2-2-2013
20617058@unknown@formal@none@1@S@The government's assertions of the cover-up were made in last minute pretrial motions.@@@@1@13@@oe@2-2-2013
20617059@unknown@formal@none@1@S@GE, which vehemently denies the government's allegations, denounced Mr. Greenfield's suit.@@@@1@11@@oe@2-2-2013
20617060@unknown@formal@none@1@S@"It is a cheap-shot suit -- procedurally defective and thoroughly fallacious -- which was hurriedly filed by a contingency-fee lawyer as a result of newspaper reports," said a GE spokeswoman.@@@@1@30@@oe@2-2-2013
20617061@unknown@formal@none@1@S@She added that the company was considering bringing sanctions against Mr. Greenfield for making "grossly inaccurate and unsupported allegations.@@@@1@19@@oe@2-2-2013
20618001@unknown@formal@none@1@S@The head of the nation's largest car-dealers group is telling dealers to "just say no" when auto makers pressure them to stockpile cars on their lots.@@@@1@26@@oe@2-2-2013
20618002@unknown@formal@none@1@S@In an open letter that will run today in the trade journal Automotive News, Ron Tonkin, president of the National Car Dealers Association, says dealers should cut their inventories to no more than half the level traditionally considered desirable.@@@@1@39@@oe@2-2-2013
20618003@unknown@formal@none@1@S@Mr. Tonkin, who has been feuding with the Big Three since he took office earlier this year, said that with half of the nation's dealers losing money or breaking even, it was time for "emergency action."@@@@1@36@@oe@2-2-2013
20618004@unknown@formal@none@1@S@U.S. car dealers had an average of 59 days' supply of cars in their lots at the end of September, according to Ward's Automotive Reports.@@@@1@25@@oe@2-2-2013
20618005@unknown@formal@none@1@S@But Mr. Tonkin said dealers should slash stocks to between 15 and 30 days to reduce the costs of financing inventory.@@@@1@21@@oe@2-2-2013
20618006@unknown@formal@none@1@S@His message is getting a chilly reception in Detroit, where the Big Three auto makers are already being forced to close plants because of soft sales and reduced dealer orders.@@@@1@30@@oe@2-2-2013
20618007@unknown@formal@none@1@S@Even before Mr. Tonkin's broadside, some large dealers said they were cutting inventories.@@@@1@13@@oe@2-2-2013
20618008@unknown@formal@none@1@S@Ford Motor Co. and Chrysler Corp. representatives criticized Mr. Tonkin's plan as unworkable.@@@@1@13@@oe@2-2-2013
20618009@unknown@formal@none@1@S@It "is going to sound neat to the dealer except when his 15-day car supply doesn't include the bright red one that the lady wants to buy and she goes up the street to buy one," a Chrysler spokesman said.@@@@1@40@@oe@2-2-2013
20619001@unknown@formal@none@1@S@Southern Co.'s Gulf Power Co. unit may plead guilty this week to charges that it illegally steered company money to politicians through outside vendors, according to individuals close to an investigation of the utility holding company.@@@@1@36@@oe@2-2-2013
20619002@unknown@formal@none@1@S@The tentative settlement between Gulf Power, a Pensacola, Fla., electric company, and federal prosecutors would mark the end of one part of a wide-ranging inquiry of Southern Co. in the past year.@@@@1@32@@oe@2-2-2013
20619003@unknown@formal@none@1@S@A grand jury has been investigating whether officials at Southern Co. conspired to cover up their accounting for spare parts to evade federal income taxes.@@@@1@25@@oe@2-2-2013
20619004@unknown@formal@none@1@S@The grand jury has also been investigating whether Gulf Power executives violated the federal Utility Holding Company Act, which prohibits certain utilities from making political contributions.@@@@1@26@@oe@2-2-2013
20619005@unknown@formal@none@1@S@The individuals said Gulf Power and federal prosecutors are considering a settlement under which the company would plead guilty to two felony charges and pay fines totaling between $500,000 and $1.5 million.@@@@1@32@@oe@2-2-2013
20619006@unknown@formal@none@1@S@Under one count, Gulf Power would plead guilty to conspiring to violate the Utility Holding Company Act.@@@@1@17@@oe@2-2-2013
20619007@unknown@formal@none@1@S@Under the second count, the company would plead guilty to conspiring to evade taxes.@@@@1@14@@oe@2-2-2013
20619008@unknown@formal@none@1@S@The guilty pleas would be made solely by Gulf Power, the individuals said.@@@@1@13@@oe@2-2-2013
20619009@unknown@formal@none@1@S@No employee or vendor would be involved.@@@@1@7@@oe@2-2-2013
20619010@unknown@formal@none@1@S@A spokesman for Southern Co. would say only that discussions are continuing between Gulf Power and federal prosecutors.@@@@1@18@@oe@2-2-2013
20619011@unknown@formal@none@1@S@"We have no further developments to report," he said.@@@@1@9@@oe@2-2-2013
20619012@unknown@formal@none@1@S@Officials at Gulf Power couldn't be reached for comment.@@@@1@9@@oe@2-2-2013
20619013@unknown@formal@none@1@S@And prosecutors declined to comment.@@@@1@5@@oe@2-2-2013
20619014@unknown@formal@none@1@S@While Southern Co. has been reluctant to discuss the grand jury investigations, Edward L. Addison, chief executive officer, has said the company is prepared to defend its tax and acccounting practices if any charges are brought against it.@@@@1@38@@oe@2-2-2013
20619015@unknown@formal@none@1@S@Morever, Mr. Addison has said Southern Co. and its units don't condone illegal political contributions.@@@@1@15@@oe@2-2-2013
20619016@unknown@formal@none@1@S@Neither Mr. Addison nor any other Southern Co. official has been charged with any wrongdoing in connection with the current inquiries.@@@@1@21@@oe@2-2-2013
20619017@unknown@formal@none@1@S@The probe of Southern Co. has attracted considerable attention this year because of several events that have befallen the company, including the death of a Gulf Power executive in a plane crash and the disappearance of a company vendor who was to be a key grand jury witness.@@@@1@48@@oe@2-2-2013
20619018@unknown@formal@none@1@S@Witnesses have said the grand jury has asked numerous questions about Jacob F. "Jake" Horton, the senior vice president of Gulf Power who died in the plane crash in April.@@@@1@30@@oe@2-2-2013
20619019@unknown@formal@none@1@S@Mr. Horton oversaw Gulf Power's governmental-affairs efforts.@@@@1@7@@oe@2-2-2013
20619020@unknown@formal@none@1@S@On the morning of the crash, he had been put on notice that an audit committee was recommending his dismissal because of invoicing irregularities in a company audit.@@@@1@28@@oe@2-2-2013
20619021@unknown@formal@none@1@S@Investigators have been trying to determine whether the crash was an accident, sabotage or suicide.@@@@1@15@@oe@2-2-2013
20619022@unknown@formal@none@1@S@Gulf Power said in May that an internal audit had disclosed that at least one vendor had used false invoices to fund political causes.@@@@1@24@@oe@2-2-2013
20619023@unknown@formal@none@1@S@But the company said the political contributions had been made more than five years ago.@@@@1@15@@oe@2-2-2013
20620001@unknown@formal@none@1@S@Exxon Corp. is resigning from the National Wildlife Federation's corporate advisory panel, saying the conservation group has been unfairly critical of the Exxon Valdez oil spill along the Alaskan coast.@@@@1@30@@oe@2-2-2013
20620002@unknown@formal@none@1@S@The federation said Friday that it regrets the resignation, but issued a stinging response that called Exxon a "corporate pariah" that should keep an open dialogue with environmentalists.@@@@1@28@@oe@2-2-2013
20620003@unknown@formal@none@1@S@The federation, with 5.8 million members nationwide, has been one of the sharpest critics of Exxon's handling of the 11 million gallon tanker spill and has accused the company of repeatedly ignoring requests to meet and discuss it.@@@@1@38@@oe@2-2-2013
20620004@unknown@formal@none@1@S@The March 24 oil spill soiled hundreds of miles of shoreline along Alaska's southern coast and wreaked havoc with wildlife and the fishing industry.@@@@1@24@@oe@2-2-2013
20620005@unknown@formal@none@1@S@Exxon's Exxon USA unit was one of the charter members of the Corporate Conservation Council, a panel of executives formed in 1982 by the National Wildlife Federation to foster "frank and open discussions" between industry and the federation's leaders.@@@@1@39@@oe@2-2-2013
20620006@unknown@formal@none@1@S@In a letter to the federation, Raymond Campion, Exxon's environmental coordinator, said: "Recent public actions by you regarding the Valdez oil spill have failed to demonstrate any sense of objectivity or fairness."@@@@1@32@@oe@2-2-2013
20620007@unknown@formal@none@1@S@The federation was among the plaintiffs in a lawsuit filed in August against Exxon seeking full payment of environmental recovery costs from the spill.@@@@1@24@@oe@2-2-2013
20621001@unknown@formal@none@1@S@First Tennessee National Corp. said it would take a $4 million charge in the fourth quarter, as a result of plans to expand its systems operation.@@@@1@26@@oe@2-2-2013
20621002@unknown@formal@none@1@S@The banking company said it reached an agreement in principle with International Business Machines Corp. on a systems operations contract calling for IBM to operate First Tennessee's computer and telecommunications functions.@@@@1@31@@oe@2-2-2013
20621003@unknown@formal@none@1@S@Further, under the agreement, First Tennesse would continue to develop the software that creates customer products and sevices.@@@@1@18@@oe@2-2-2013
20621004@unknown@formal@none@1@S@"Because personal computers will soon be on the desks of all of our tellers, and customer service and loan representatives, information will be instantly available to help customers with product decisions and provide them with information about their accounts," according to John Kelley, executive vice president and corporate services group manager at First Tennessee.@@@@1@54@@oe@2-2-2013
20621005@unknown@formal@none@1@S@However, about 120 employees will be affected by the agreement.@@@@1@10@@oe@2-2-2013
20621006@unknown@formal@none@1@S@First Tennessee, assisted by IBM, said it will attempt to place the employees within the company, IBM or other companies in Memphis.@@@@1@22@@oe@2-2-2013
20621007@unknown@formal@none@1@S@The process will take as many as six months to complete, the company said.@@@@1@14@@oe@2-2-2013
20621008@unknown@formal@none@1@S@The agreement is subject to the banking company's board approval, which is expected next month.@@@@1@15@@oe@2-2-2013
20622001@unknown@formal@none@1@S@The Treasury Department said the U.S. trade deficit may worsen next year, after two years of significant improvement.@@@@1@18@@oe@2-2-2013
20622002@unknown@formal@none@1@S@In its report to Congress on international economic policies, the Treasury said that any improvement in the broadest measure of trade, known as the current account, "is likely at best to be very modest," and "the possibility of deterioration in the current account next year cannot be excluded."@@@@1@48@@oe@2-2-2013
20622003@unknown@formal@none@1@S@The statement was the U.S. government's first acknowledgement of what other groups, such as the International Monetary Fund, have been predicting for months.@@@@1@23@@oe@2-2-2013
20622004@unknown@formal@none@1@S@Continued strength in the dollar was cited as one reason the trade position may deteriorate.@@@@1@15@@oe@2-2-2013
20622005@unknown@formal@none@1@S@The Treasury's report, which is required annually by a provision of the 1988 trade act, again took South Korea to task for its exchange-rate policies.@@@@1@25@@oe@2-2-2013
20622006@unknown@formal@none@1@S@"We believe that there have continued to be indications of exchange-rate `manipulation'" during the past six months, it said, citing the lack of market forces in South Korea's exchange-rate system and the use of capital and interest-rate controls to manipulate exchange rates.@@@@1@42@@oe@2-2-2013
20622007@unknown@formal@none@1@S@The Treasury expressed pleasure, however, with the government of Taiwan, which was cited for exchange-rate manipulation in last year's report.@@@@1@20@@oe@2-2-2013
20622008@unknown@formal@none@1@S@The Treasury said Taiwan has liberalized its exchange rate system in the past year.@@@@1@14@@oe@2-2-2013
20623001@unknown@formal@none@1@S@The fiscal 1989 budget deficit figure came out Friday.@@@@1@9@@oe@2-2-2013
20623002@unknown@formal@none@1@S@It was down a little.@@@@1@5@@oe@2-2-2013
20623003@unknown@formal@none@1@S@The next time you hear a Member of Congress moan about the deficit, consider what Congress did Friday.@@@@1@18@@oe@2-2-2013
20623004@unknown@formal@none@1@S@The Senate, 84-6, voted to increase to $124,000 the ceiling on insured mortgages from the FHA, which lost $4.2 billion in loan defaults last year.@@@@1@25@@oe@2-2-2013
20623005@unknown@formal@none@1@S@Then, by voice vote, the Senate voted a pork-barrel bill, approved Thursday by the House, for domestic military construction.@@@@1@19@@oe@2-2-2013
20623006@unknown@formal@none@1@S@Compare the Bush request to what the Senators gave themselves:@@@@1@10@@oe@2-2-2013
20623007@unknown@formal@none@1@S@For construction in West Virginia, Mr. Bush requested $4.5 million; Congress gave Senator Byrd's state $21.5 million.@@@@1@17@@oe@2-2-2013
20623008@unknown@formal@none@1@S@Senator Byrd is chairman of the Appropriations Committee.@@@@1@8@@oe@2-2-2013
20623009@unknown@formal@none@1@S@For Iowa, a $1.8 million request became $12 million for Senator Grassley, ranking minority member of a military construction subcommittee.@@@@1@20@@oe@2-2-2013
20623010@unknown@formal@none@1@S@Rep. Jamie Whitten of Mississippi and chairman of House Appropriations turned a $20 million Bush request for his state into a $49.7 million bequest.@@@@1@24@@oe@2-2-2013
20623011@unknown@formal@none@1@S@Senator Sasser of Tennessee is chairman of the Appropriations subcommittee on military construction; Mr. Bush's $87 million request for Tennessee increased to $109 million.@@@@1@24@@oe@2-2-2013
20623012@unknown@formal@none@1@S@In a remark someone should remember this time next year, Senator Sasser said, "I think we've seen the peak of military construction spending for many years to come."@@@@1@28@@oe@2-2-2013
20623013@unknown@formal@none@1@S@Tell us about spending restraint.@@@@1@5@@oe@2-2-2013
20623014@unknown@formal@none@1@S@Tell us about the HUD scandals.@@@@1@6@@oe@2-2-2013
20623015@unknown@formal@none@1@S@Tell us what measure, short of house arrest, will get this Congress under control.@@@@1@14@@oe@2-2-2013
20624001@unknown@formal@none@1@S@Costa Rica reached an agreement with its creditor banks that is expected to cut that government's $1.8 billion in bank debt by as much as 60%.@@@@1@26@@oe@2-2-2013
20624002@unknown@formal@none@1@S@The agreement was announced by Costa Rican President Oscar Arias Friday, as President Bush and other leaders from the Western Hemisphere gathered in the Central American nation for a celebration of democracy.@@@@1@32@@oe@2-2-2013
20624003@unknown@formal@none@1@S@Costa Rica had been negotiating with the U.S. and other banks for three years, but the debt plan was rushed to completion in order to be announced at the meeting.@@@@1@30@@oe@2-2-2013
20624004@unknown@formal@none@1@S@The government had fallen $300 million behind in interest payments.@@@@1@10@@oe@2-2-2013
20624005@unknown@formal@none@1@S@Treasury Secretary Nicholas Brady called the agreement "an important step forward in the strengthened debt strategy," noting that it will "when implemented, provide significant reduction in the level of debt and debt service owed by Costa Rica."@@@@1@37@@oe@2-2-2013
20624006@unknown@formal@none@1@S@Under the plan, Costa Rica will buy back roughly 60% of its bank debt outstanding at a deeply discounted price, according to officials involved in the agreement.@@@@1@27@@oe@2-2-2013
20624007@unknown@formal@none@1@S@The remainder of the debt will be exchanged for new Costa Rican bonds with a 6 1/4% interest rate.@@@@1@19@@oe@2-2-2013
20624008@unknown@formal@none@1@S@The International Monetary Fund and the World Bank are expected to provide approximately $180 million to help support the deal, and additional funds are expected from Japan.@@@@1@27@@oe@2-2-2013
20624009@unknown@formal@none@1@S@Treasury officials say the Costa Rican agreement demonstrates that the Brady debt plan can benefit small debtor countries as well as big debtors, such as Mexico.@@@@1@26@@oe@2-2-2013
20625001@unknown@formal@none@1@S@The Treasury said it plans to sell $2 billion of 51-day cash-management bills today, raising all new cash.@@@@1@18@@oe@2-2-2013
20625002@unknown@formal@none@1@S@The bills will be dated Oct. 31 and will mature Dec. 21,@@@@1@12@@oe@2-2-2013
20625003@unknown@formal@none@1@S@No non-competitive tenders will be accepted.@@@@1@6@@oe@2-2-2013
20625004@unknown@formal@none@1@S@Tenders, available in minimum denominations of $1 million, must be received by noon EST today at Federal Reserve Banks or branches.@@@@1@21@@oe@2-2-2013
20625005@unknown@formal@none@1@S@The Treasury also announced details of this week's unusual bill auction, which has been changed to accommodate the expiration of the federal debt ceiling at midnight tomorrow.@@@@1@27@@oe@2-2-2013
20625006@unknown@formal@none@1@S@The 13-week and 27-week bills will be issued tomorrow rather than Thursday, Nov. 2, as originally planned.@@@@1@17@@oe@2-2-2013
20625007@unknown@formal@none@1@S@The three-month bills will still mature Feb. 1, 1990, and the six-month bills on May 3, 1990.@@@@1@17@@oe@2-2-2013
20625008@unknown@formal@none@1@S@The Treasury also said noncompetitive tenders will be considered timely if postmarked no later than Sunday, Oct. 29, and received no later than tomorrow.@@@@1@24@@oe@2-2-2013
20625009@unknown@formal@none@1@S@The Treasury said it won't be able to honor reinvestment requests from holders of bills maturing Nov. 2 held in the Treasury's book-entry system.@@@@1@24@@oe@2-2-2013
20625010@unknown@formal@none@1@S@The department will make payment for bills maturing on Nov. 2 to all investors who have requested reinvestment of their bills on that date, as well as to all account holders who have previously requested payment.@@@@1@36@@oe@2-2-2013
20626001@unknown@formal@none@1@S@American Pioneer Inc. said it agreed in principle to sell its American Pioneer Life Insurance Co. subsidiary to Harcourt Brace Jovanovich Inc.'s HBJ Insurance Cos. for $27 million.@@@@1@28@@oe@2-2-2013
20626002@unknown@formal@none@1@S@American Pioneer, parent of American Pioneer Savings Bank, said the sale will add capital and reduce the level of investments in subsidiaries for the thrift holding company.@@@@1@27@@oe@2-2-2013
20626003@unknown@formal@none@1@S@Recently, the boards of both the parent company and the thrift also voted to suspend dividends on preferred shares of both companies and convert all preferred into common shares.@@@@1@29@@oe@2-2-2013
20626004@unknown@formal@none@1@S@The company said the move was necessary to meet capital requirements.@@@@1@11@@oe@2-2-2013
20626005@unknown@formal@none@1@S@The transaction is subject to execution of a definitive purchase agreement and approval by various regulatory agencies, including the insurance departments of the states of Florida and Indiana, the company said.@@@@1@31@@oe@2-2-2013
20626006@unknown@formal@none@1@S@In the second quarter, American Pioneer reported a loss of $7.3 million, compared with net income of $1.1 million a year earlier.@@@@1@22@@oe@2-2-2013
20626007@unknown@formal@none@1@S@The banking operation had a loss of $8.7 million in the second quarter, largely because of problem real-estate loans, while the insurance operations earned $884,000.@@@@1@25@@oe@2-2-2013
20627001@unknown@formal@none@1@S@October employment data -- also could turn out to be the most confusing.@@@@1@13@@oe@2-2-2013
20627002@unknown@formal@none@1@S@On the surface, the overall unemployment rate is expected to be little changed from September's 5.3%.@@@@1@16@@oe@2-2-2013
20627003@unknown@formal@none@1@S@But the actual head count of non-farm employment payroll jobs is likely to be muddied by the impact of Hurricane Hugo, strikes, and less-than-perfect seasonal adjustments, economists said.@@@@1@28@@oe@2-2-2013
20627004@unknown@formal@none@1@S@The consensus view calls for an overall job gain of 155,000 compared with September's 209,000 increase.@@@@1@16@@oe@2-2-2013
20627005@unknown@formal@none@1@S@But the important factory-jobs segment, which last month plunged by 103,000 positions and raised recession fears, is most likely to be skewed by the month's unusual events.@@@@1@27@@oe@2-2-2013
20627006@unknown@formal@none@1@S@Several other reports come before Friday's jobs data, including: the September leading indicators index, new-home sales and October agricultural prices reports due out tomorrow; the October purchasing managers' index and September construction spending and manufacturers' orders on Wednesday; and October chain-store sales on Thursday.@@@@1@44@@oe@2-2-2013
20627007@unknown@formal@none@1@S@Friday brings the final count on October auto sales.@@@@1@9@@oe@2-2-2013
20627008@unknown@formal@none@1@S@"The employment report is going to be difficult to interpret," said Michael Englund, economist with MMS International, a unit of McGraw-Hill Inc., New York.@@@@1@24@@oe@2-2-2013
20627009@unknown@formal@none@1@S@Mr. Englund added that next month's data isn't likely to be much better, because it will be distorted by San Francisco's earthquake.@@@@1@22@@oe@2-2-2013
20627010@unknown@formal@none@1@S@What's more, he believes seasonal swings in the auto industry this year aren't occurring at the same time as in the past, because of production and pricing differences that are curbing the accuracy of seasonal adjustments built into the employment data.@@@@1@41@@oe@2-2-2013
20627011@unknown@formal@none@1@S@Wednesday's report from the purchasing agents will be watched to see if the index maintains a level below 50%, as it has for the past couple of months.@@@@1@28@@oe@2-2-2013
20627012@unknown@formal@none@1@S@A reading of less than 50% indicates an economy that is generally contracting while a reading above 50% indicates an economy that's expanding.@@@@1@23@@oe@2-2-2013
20627013@unknown@formal@none@1@S@Samuel D. Kahan, chief financial economist at Kleinwort Benson Government Securities Inc., Chicago, said that the purchasers' report is valuable because it often presents the first inkling of economic data for the month.@@@@1@33@@oe@2-2-2013
20627014@unknown@formal@none@1@S@But he added: "Some people use the purchasers' index as a leading indicator, some use it as a coincident indicator.@@@@1@20@@oe@2-2-2013
20627015@unknown@formal@none@1@S@But the thing it's supposed to measure -- manufacturing strength -- it missed altogether last month."@@@@1@16@@oe@2-2-2013
20627016@unknown@formal@none@1@S@David Wyss, chief financial economist at Data Resources Inc., Boston, said that the purchasers' index "does miss occasionally," adding: "When it misses one month it tends to miss the next month, too."@@@@1@32@@oe@2-2-2013
20627017@unknown@formal@none@1@S@The consensus view on September leading indicators calls for a gain of 0.3%, the same as in August.@@@@1@18@@oe@2-2-2013
20627018@unknown@formal@none@1@S@Economists said greatly increased consumer optimism, a larger money supply and higher stock prices helped lift the index.@@@@1@18@@oe@2-2-2013
20627019@unknown@formal@none@1@S@All orders-related components, such as consumer-goods orders and building permits, are thought to have been weaker.@@@@1@16@@oe@2-2-2013
20627020@unknown@formal@none@1@S@Data Resources' Mr. Wyss added that he will be keeping a closer eye than ususal on October chain-store sales.@@@@1@19@@oe@2-2-2013
20627021@unknown@formal@none@1@S@Usually, October "isn't a very interesting month {for retail figures} because school clothes have been bought and people are waiting for December to buy Christmas presents," he said.@@@@1@28@@oe@2-2-2013
20627022@unknown@formal@none@1@S@But Mr. Wyss said he will watch the numbers to get an inkling of whether consumers' general buying habits may slack off as much as their auto-buying apparently has.@@@@1@29@@oe@2-2-2013
20627023@unknown@formal@none@1@S@He noted that higher gasoline prices will help buoy the October totals.@@@@1@12@@oe@2-2-2013
20627024@unknown@formal@none@1@S@Seasonal factors are also expected to have taken their toll on September new-home sales, which are believed to have fallen sharply from August's 755,000 units.@@@@1@25@@oe@2-2-2013
20627025@unknown@formal@none@1@S@Construction spending is believed to have slipped about 0.5% from August levels, although economists noted the rate probably will pick up in the months ahead in response to hurricane and earthquake damage.@@@@1@32@@oe@2-2-2013
20628001@unknown@formal@none@1@S@Factory owners are buying new machinery at a good rate this fall, machine tool makers say, but sluggish sales of new cars and trucks raise questions about fourth-quarter demand from the important automotive industry.@@@@1@34@@oe@2-2-2013
20628002@unknown@formal@none@1@S@September orders for machine tools rebounded from the summer doldrums, but remained 7.7% below year-earlier levels, according to figures from NMTBA -- the Association for Manufacturing Technology.@@@@1@27@@oe@2-2-2013
20628003@unknown@formal@none@1@S@Domestic machine tool plants received $303 million of orders last month, up 33% from August's $227.1 million, but still below the $328.2 million of September 1988, NMTBA said.@@@@1@28@@oe@2-2-2013
20628004@unknown@formal@none@1@S@Machine tools are complex machines ranging from lathes to metal-forming presses that are used to shape most metal parts.@@@@1@19@@oe@2-2-2013
20628005@unknown@formal@none@1@S@"Overall demand still is very respectable," says Christopher C. Cole, group vice president at Cincinnati Milacron Inc., the nation's largest machine tool producer.@@@@1@23@@oe@2-2-2013
20628006@unknown@formal@none@1@S@"The outlook is positive for the intermediate to long term."@@@@1@10@@oe@2-2-2013
20628007@unknown@formal@none@1@S@September orders for all U.S. producers, in fact, were slightly above the monthly average for 1988, a good year for the industry.@@@@1@22@@oe@2-2-2013
20628008@unknown@formal@none@1@S@"Aerospace orders are very good," Mr. Cole says.@@@@1@8@@oe@2-2-2013
20628009@unknown@formal@none@1@S@"And export business is still good.@@@@1@6@@oe@2-2-2013
20628010@unknown@formal@none@1@S@While some automotive programs have been delayed, they haven't been canceled."@@@@1@11@@oe@2-2-2013
20628011@unknown@formal@none@1@S@"September was one of the biggest order months in our history," says James R. Roberts, vice president, world-wide sales and marketing, for Giddings & Lewis Inc., Fond du Lac, Wis.@@@@1@30@@oe@2-2-2013
20628012@unknown@formal@none@1@S@At a recent meeting of manufacturing executives, "everybody I talked with was very positive," he says.@@@@1@16@@oe@2-2-2013
20628013@unknown@formal@none@1@S@Most say they plan to spend more on factory equipment in 1990 than in 1989.@@@@1@15@@oe@2-2-2013
20628014@unknown@formal@none@1@S@But sales of North American-made 1990-model cars are running at an annual rate of only six million, down from 7.1 million a year earlier.@@@@1@24@@oe@2-2-2013
20628015@unknown@formal@none@1@S@And truck sales also are off more than 20%.@@@@1@9@@oe@2-2-2013
20628016@unknown@formal@none@1@S@Auto makers, who began deferring some equipment purchases last spring, can be expected to remain cautious about spending if their sales don't pick up, machine tool builders say.@@@@1@28@@oe@2-2-2013
20628017@unknown@formal@none@1@S@Machine tool executives are hopeful, however, that recent developments in Eastern Europe will expand markets for U.S.-made machine tools in that region.@@@@1@22@@oe@2-2-2013
20628018@unknown@formal@none@1@S@There is demand for state-of-the-art machine tools in the Soviet Union and in other Eastern European countries as those nations strive to improve the efficiency of their ailing factories as well as the quality of their goods.@@@@1@37@@oe@2-2-2013
20628019@unknown@formal@none@1@S@However, there's a continuing dispute between machine tool makers and the Defense Department over whether sophisticated U.S. machine tools would increase the Soviet Union's military might.@@@@1@26@@oe@2-2-2013
20628020@unknown@formal@none@1@S@"The Commerce Department says go, and the Defense Department says stop," complains one machine tool producer.@@@@1@16@@oe@2-2-2013
20628021@unknown@formal@none@1@S@If that controversy continues, U.S. machine tool makers say, West German and other foreign producers are likely to grab most of the sales in Eastern Europe.@@@@1@26@@oe@2-2-2013
20628022@unknown@formal@none@1@S@September orders for machining centers, lathes, milling machines, grinders, boring mills and other machines that shape metal by cutting totaled $192.9 million, down 28% from $266.5 million a year earlier, but a 23% increase from August's $156.3 million, NMTBA said.@@@@1@40@@oe@2-2-2013
20628023@unknown@formal@none@1@S@Orders last month for metal-forming presses and other machinery to form metal with pressure surged to $110.1 million, a 78% rise from $61.7 million a year earlier and a 55% gain from $70.9 million in August.@@@@1@36@@oe@2-2-2013
20628024@unknown@formal@none@1@S@Today's presses are large and costly machines, and a few orders can produce a high total for one month that doesn't necessarily indicate a trend.@@@@1@25@@oe@2-2-2013
20628025@unknown@formal@none@1@S@Machine tool shipments last month were $281.2 million, a 24% rise from a year earlier and a 25% increase from August.@@@@1@21@@oe@2-2-2013
20628026@unknown@formal@none@1@S@Shipments have run well ahead of 1988 all year, as machine tool builders produce against relatively good backlogs.@@@@1@18@@oe@2-2-2013
20628027@unknown@formal@none@1@S@U.S. producers had a $2.15 billion backlog of unfilled orders at the end of September.@@@@1@15@@oe@2-2-2013
20628028@unknown@formal@none@1@S@That was up 2.8% from a year earlier, even though orders for the first nine months of 1989 were down 19% from the comparable 1988 period.@@@@1@26@@oe@2-2-2013
20628029@unknown@formal@none@1@S@$2,057,750,000.@@@@1@1@@oe@2-2-2013
20628030@unknown@formal@none@1@S@$675,400,000.@@@@1@1@@oe@2-2-2013
20628031@unknown@formal@none@1@S@$1,048,500,000.@@@@1@1@@oe@2-2-2013
20628032@unknown@formal@none@1@S@$588,350,000.@@@@1@1@@oe@2-2-2013
20629001@unknown@formal@none@1@S@In Bombay stock market circles, the buzzword is "mega."@@@@1@9@@oe@2-2-2013
20629002@unknown@formal@none@1@S@At least 40 companies are coming to the capital market to raise $6 billion, an amount never thought possible in India.@@@@1@21@@oe@2-2-2013
20629003@unknown@formal@none@1@S@"When they talk mega-issues, they're truly talking mega," says S.A. Dave, chairman of the Securities and Exchange Board of India.@@@@1@20@@oe@2-2-2013
20629004@unknown@formal@none@1@S@"The capital market is booming."@@@@1@5@@oe@2-2-2013
20629005@unknown@formal@none@1@S@But the mega-issues are raising megaquestions about the rapidly evolving Indian capital market.@@@@1@13@@oe@2-2-2013
20629006@unknown@formal@none@1@S@One is whether there is enough money to fund the new issues without depressing stock trading.@@@@1@16@@oe@2-2-2013
20629007@unknown@formal@none@1@S@Moreover, in the relatively unregulated Indian stock markets, investors frequently don't know what they are getting when they subscribe to an issue.@@@@1@22@@oe@2-2-2013
20629008@unknown@formal@none@1@S@A prospectus in India doesn't always tell a potential investor much.@@@@1@11@@oe@2-2-2013
20629009@unknown@formal@none@1@S@Some of the large amounts are being raised by small firms.@@@@1@11@@oe@2-2-2013
20629010@unknown@formal@none@1@S@In addition, once money is raised, investors usually have no way of knowing how it is spent.@@@@1@17@@oe@2-2-2013
20629011@unknown@formal@none@1@S@Some analysts are concerned that the mega-issues, in such an unregulated environment, could lead to a mega-crash.@@@@1@17@@oe@2-2-2013
20629012@unknown@formal@none@1@S@"The rate of failures will be much more than the rate of successes in the mega-projects," says G.S. Patel, a former chairman of the giant, government-run mutual fund, the Unit Trust of India.@@@@1@33@@oe@2-2-2013
20629013@unknown@formal@none@1@S@"They're going to have mega-problems."@@@@1@5@@oe@2-2-2013
20629014@unknown@formal@none@1@S@The Indian stock markets have been on a five-year high, with dips and corrections, since Prime Minister Rajiv Gandhi started liberalizing industry.@@@@1@22@@oe@2-2-2013
20629015@unknown@formal@none@1@S@But the last stock market boom, in 1986, seems small compared with the current rush to market.@@@@1@17@@oe@2-2-2013
20629016@unknown@formal@none@1@S@The $6 billion that some 40 companies are looking to raise in the year ending March 31 compares with only $2.7 billion raised on the capital market in the previous fiscal year.@@@@1@32@@oe@2-2-2013
20629017@unknown@formal@none@1@S@In fiscal 1984, before Mr. Gandhi came to power, only $810 million was raised.@@@@1@14@@oe@2-2-2013
20629018@unknown@formal@none@1@S@This year's biggest issue, $570 million of convertible debentures by engineering company Larsen & Toubro Ltd., is the largest in Indian history.@@@@1@22@@oe@2-2-2013
20629019@unknown@formal@none@1@S@And it isn't the only giant issue: together, the top four issues will raise $1.3 billion.@@@@1@16@@oe@2-2-2013
20629020@unknown@formal@none@1@S@Convertible debentures -- bonds that can later be converted into equity shares -- are the most popular instrument this year, though many companies are also selling nonconvertible bonds or equity shares.@@@@1@31@@oe@2-2-2013
20629021@unknown@formal@none@1@S@These mega-issues are being propelled by two factors, economic and political.@@@@1@11@@oe@2-2-2013
20629022@unknown@formal@none@1@S@In the past, the socialist policies of the government strictly limited the size of new steel mills, petrochemical plants, car factories and other industrial concerns to conserve resources and restrict the profits businessmen could make.@@@@1@35@@oe@2-2-2013
20629023@unknown@formal@none@1@S@As a result, industry operated out of small, expensive, highly inefficient industrial units.@@@@1@13@@oe@2-2-2013
20629024@unknown@formal@none@1@S@When Mr. Gandhi came to power, he ushered in new rules for business.@@@@1@13@@oe@2-2-2013
20629025@unknown@formal@none@1@S@He said industry should build plants on the same scale as those outside India and benefit from economies of scale.@@@@1@20@@oe@2-2-2013
20629026@unknown@formal@none@1@S@If the output was too great for the domestic market, he said, companies should export.@@@@1@15@@oe@2-2-2013
20629027@unknown@formal@none@1@S@India's overregulated businessmen had to be persuaded, but they have started to think big.@@@@1@14@@oe@2-2-2013
20629028@unknown@formal@none@1@S@Some of the projects being funded by the new issues are the first fruits of Mr. Gandhi's policy, and they require more capital than the smaller industrial units built in the past.@@@@1@32@@oe@2-2-2013
20629029@unknown@formal@none@1@S@The industrial revolution has produced an explosion in the capital market, which is a far cheaper source of funds than government-controlled banks, where interest rates for prime borrowers are around 16%.@@@@1@31@@oe@2-2-2013
20629030@unknown@formal@none@1@S@The second factor spurring mega-issues is political.@@@@1@7@@oe@2-2-2013
20629031@unknown@formal@none@1@S@Mr. Gandhi has called general elections for November, and many businessmen fear that he and his Congress (I) Party will lose.@@@@1@21@@oe@2-2-2013
20629032@unknown@formal@none@1@S@Some companies are raising money in anticipation of a government less predictable than Mr. Gandhi's, and possibly more restrictive.@@@@1@19@@oe@2-2-2013
20629033@unknown@formal@none@1@S@The buoyant Bombay rumor mill also says that some of the money raised in the current spate of issues will be used as campaign donations before the elections.@@@@1@28@@oe@2-2-2013
20629034@unknown@formal@none@1@S@No one admits to anything, but India's industrialists have a history of making under-the-table campaign donations.@@@@1@16@@oe@2-2-2013
20629035@unknown@formal@none@1@S@So far, the mega-issues are a hit with investors.@@@@1@9@@oe@2-2-2013
20629036@unknown@formal@none@1@S@Earlier this year, Tata Iron & Steel Co.'s offer of $355 million of convertible debentures was oversubscribed.@@@@1@17@@oe@2-2-2013
20629037@unknown@formal@none@1@S@Essar Gujarat Ltd., a marine construction company, had similar success with a slightly smaller issue.@@@@1@15@@oe@2-2-2013
20629038@unknown@formal@none@1@S@Larsen & Toubro started accepting applications for its giant issue earlier this month; bankers and analysts expect it to be oversubscribed.@@@@1@21@@oe@2-2-2013
20629039@unknown@formal@none@1@S@Still to come are big issues by Bindal Agro Chem Ltd., a petrochemical and agrochemical company, and Usha Rectifier Corp. (India), a semiconductor maker.@@@@1@24@@oe@2-2-2013
20629040@unknown@formal@none@1@S@While many investors are selling parts of their portfolios to buy the new issues, prices on India's 16 stock exchanges are holding up so far.@@@@1@25@@oe@2-2-2013
20629041@unknown@formal@none@1@S@"I don't think it will lead to any chaos in the secondary market," says Mr. Patel, "only a sagging tendency."@@@@1@20@@oe@2-2-2013
20629042@unknown@formal@none@1@S@Says M.J. Pherwani, chairman of the Unit Trust of India: The "markets are headed for growth unheard of and unseen before."@@@@1@21@@oe@2-2-2013
20629043@unknown@formal@none@1@S@But with growth come growing pains, and never has this been clearer on the Indian capital market than now.@@@@1@19@@oe@2-2-2013
20629044@unknown@formal@none@1@S@In the past, the government controlled the markets indirectly, through its tight grip on industry itself.@@@@1@16@@oe@2-2-2013
20629045@unknown@formal@none@1@S@Various ministries decided the products businessmen could produce and how much; and government-owned banks controlled the financing of projects and monitored whether companies came through on promised plans.@@@@1@28@@oe@2-2-2013
20629046@unknown@formal@none@1@S@The government has been content with this far-reaching, subtle form of control, exercised on a case-by-case basis with no clear rules or guidelines.@@@@1@23@@oe@2-2-2013
20629047@unknown@formal@none@1@S@But now, with large amounts being raised from investors, the government's dawdling on regulation and disclosure requirements has a more dangerous aspect.@@@@1@22@@oe@2-2-2013
20629048@unknown@formal@none@1@S@The Securities and Exchange Board of India was set up earlier this year, along the lines of the U.S. Securities and Exchange Commission, but New Delhi hasn't pushed the legislation to make it operational.@@@@1@34@@oe@2-2-2013
20629049@unknown@formal@none@1@S@Mr. Dave, its head, acts cheery and patient, but he makes no bones about the need to get to work.@@@@1@20@@oe@2-2-2013
20629050@unknown@formal@none@1@S@"Mega or non-mega, we feel the prospectus standards need to be considerably improved," he says.@@@@1@15@@oe@2-2-2013
20629051@unknown@formal@none@1@S@"Disclosures are very poor in India."@@@@1@6@@oe@2-2-2013
20629052@unknown@formal@none@1@S@He says the big questions -- "Do you really need this much money to put up these investments? Have you told investors what is happening in your sector? What about your track record? -- "aren't asked of companies coming to market.@@@@1@41@@oe@2-2-2013
20629053@unknown@formal@none@1@S@Instead, he says, most investors have to rely on the rumor-happy Indian press.@@@@1@13@@oe@2-2-2013
20629054@unknown@formal@none@1@S@An example is the biggest offering of them all, Larsen & Toubro's $570 million bond issue.@@@@1@16@@oe@2-2-2013
20629055@unknown@formal@none@1@S@The engineering company was acquired in a takeover earlier this year by the giant Reliance textile group.@@@@1@17@@oe@2-2-2013
20629056@unknown@formal@none@1@S@Although Larsen & Toubro hadn't raised money from the public in 38 years, its new owners frequently raise funds on the local market.@@@@1@23@@oe@2-2-2013
20629057@unknown@formal@none@1@S@(Reliance floated a $357 million petrochemical company in 1988 that was, at the time, the largest public issue in Indian history.)@@@@1@21@@oe@2-2-2013
20629058@unknown@formal@none@1@S@The media has raised questions about Larsen & Toubro's issue, pointing out that it exceeds the company's annual sales and its market capitalization.@@@@1@23@@oe@2-2-2013
20629059@unknown@formal@none@1@S@Even stranger is the case of Usha Rectifier, a semiconductor company with 1988 sales of $28 million that's raising $270 million to build an iron plant.@@@@1@26@@oe@2-2-2013
20629060@unknown@formal@none@1@S@Once the money is raised, it isn't always certain how it is used.@@@@1@13@@oe@2-2-2013
20629061@unknown@formal@none@1@S@Larsen & Toubro, for example, says it's raising $570 million to use as supplier credit on large engineering jobs.@@@@1@19@@oe@2-2-2013
20629062@unknown@formal@none@1@S@Unlike other companies, it hasn't pin-pointed specific projects for the funds.@@@@1@11@@oe@2-2-2013
20629063@unknown@formal@none@1@S@And even when specific projects are described in prospectuses, the money often is used elsewhere, according to analysts.@@@@1@18@@oe@2-2-2013
20629064@unknown@formal@none@1@S@"Someone must monitor where the funds are deployed," says Mr. Dave.@@@@1@11@@oe@2-2-2013
20629065@unknown@formal@none@1@S@Mr. Patel agrees: "There is no proper monitoring and screening of the use of these funds.@@@@1@16@@oe@2-2-2013
20629066@unknown@formal@none@1@S@They're trying to plug the various loopholes, but they're totally unprepared for this."@@@@1@13@@oe@2-2-2013
20629067@unknown@formal@none@1@S@Because of the large amounts of money being raised, the loose disclosure requirements and the casual monitoring of how the money is used, some analysts fear that there could be a few mega-crashes, which could hurt market confidence far more than the small bankruptcies that followed the boom of 1986.@@@@1@50@@oe@2-2-2013
20629068@unknown@formal@none@1@S@The government insists that such a possibility is low.@@@@1@9@@oe@2-2-2013
20629069@unknown@formal@none@1@S@It says that despite loose regulation of the market itself, its longstanding regulation of industry will prevent such crashes.@@@@1@19@@oe@2-2-2013
20629070@unknown@formal@none@1@S@T.T. Ram Mohan contributed to this article.@@@@1@7@@oe@2-2-2013
20630001@unknown@formal@none@1@S@Lion Nathan Ltd., a New Zealand brewing and retail concern, said Friday that Bond Corp. Holdings Ltd. is "committed" to a transaction whereby Lion Nathan would acquire 50% of Bond's Australian brewing assets.@@@@1@33@@oe@2-2-2013
20630002@unknown@formal@none@1@S@Lion Nathan issued a statement saying it is applying to Australia's National Companies & Securities Commission, the nation's corporate watchdog agency, for a modification to takeover regulations "similar to that obtained by" S.A. Brewing Holdings Ltd.@@@@1@36@@oe@2-2-2013
20630003@unknown@formal@none@1@S@SA Brewing, an Australian brewer, last Thursday was given approval to acquire an option for up to 20% of Bell Resources Ltd., a unit of Bond Corp.@@@@1@27@@oe@2-2-2013
20630004@unknown@formal@none@1@S@Bell Resources is acquiring Bond's brewing businesses for 2.5 billion Australian dollars (US$1.9 billion).@@@@1@14@@oe@2-2-2013
20630005@unknown@formal@none@1@S@S.A. brewing would make a takeover offer for all of Bell Resources if it exercises the option, according to the commission.@@@@1@21@@oe@2-2-2013
20630006@unknown@formal@none@1@S@Bond Corp., a brewing, property, media and resources company, is selling many of its assets to reduce its debts.@@@@1@19@@oe@2-2-2013
20630007@unknown@formal@none@1@S@"Lion Nathan has a concluded contract with Bond and Bell Resources," said Douglas Myers, chief executive of Lion Nathan.@@@@1@19@@oe@2-2-2013
20631001@unknown@formal@none@1@S@Finnair, Finland's state-owned airline, joined the wave of global airline alliances and signed a wide-ranging cooperation agreement with archrival Scandinavian Airlines System.@@@@1@22@@oe@2-2-2013
20631002@unknown@formal@none@1@S@Under the accord, Finnair agreed to coordinate flights, marketing and other functions with SAS, the 50%-state-owned airline of Denmark, Norway and Sweden.@@@@1@22@@oe@2-2-2013
20631003@unknown@formal@none@1@S@The pact also calls for coordination between Finnair and Switzerland's national carrier, Swissair, with which SAS entered a similar alliance last month.@@@@1@22@@oe@2-2-2013
20631004@unknown@formal@none@1@S@Finnair and SAS said they plan to swap stakes in each other.@@@@1@12@@oe@2-2-2013
20631005@unknown@formal@none@1@S@Neither disclosed details pending board meetings next month.@@@@1@8@@oe@2-2-2013
20631006@unknown@formal@none@1@S@Officials hinted, however, that SAS would take a stake of at least 6% in Finnair, valued at about $40 million at current market prices.@@@@1@24@@oe@2-2-2013
20631007@unknown@formal@none@1@S@Finnair would receive SAS shares valued at the same amount, officials said.@@@@1@12@@oe@2-2-2013
20632001@unknown@formal@none@1@S@General Motors Corp. and Ford Motor Co. are now going head to head in the markets for shares of Jaguar PLC, as GM got early clearance from the Federal Trade Commission to boost its stake in the British luxury car maker.@@@@1@41@@oe@2-2-2013
20632002@unknown@formal@none@1@S@GM confirmed Friday that it received permission late Thursday from U.S. antitrust regulators to increase its Jaguar holdings past the $15 million level.@@@@1@23@@oe@2-2-2013
20632003@unknown@formal@none@1@S@Ford got a similar go-ahead earlier in October, and on Friday, Jaguar announced that the No. 2 U.S. auto maker had raised its stake to 13.2%, or 24.2 million shares, from 12.4% earlier in the week.@@@@1@36@@oe@2-2-2013
20632004@unknown@formal@none@1@S@A spokesman for GM, the No. 1 auto maker, declined to say how many Jaguar shares that company owns.@@@@1@19@@oe@2-2-2013
20632005@unknown@formal@none@1@S@In late trading Friday, Jaguar shares bucked the downward tide in London's stock market and rose five pence to 725 pence ($11.44).@@@@1@22@@oe@2-2-2013
20632006@unknown@formal@none@1@S@Trading volume was a moderately heavy 3.1 million shares.@@@@1@9@@oe@2-2-2013
20632007@unknown@formal@none@1@S@In the U.S., Jaguar's American depositary receipts were among the most active issues Friday in national over-the-counter trading where they closed at $11.625 each, up 62.5 cents.@@@@1@27@@oe@2-2-2013
20632008@unknown@formal@none@1@S@Analysts expect that the two U.S. auto giants will move quickly to buy up 15% stakes in Jaguar, setting up a potential bidding war for the prestigious Jaguar brand.@@@@1@29@@oe@2-2-2013
20632009@unknown@formal@none@1@S@British government restrictions prevent any single shareholder from going beyond 15% before the end of 1990 without government permission.@@@@1@19@@oe@2-2-2013
20632010@unknown@formal@none@1@S@The British government, which owned Jaguar until 1984, still holds a controlling "golden share" in the company.@@@@1@17@@oe@2-2-2013
20632011@unknown@formal@none@1@S@With the golden share as protection, Jaguar officials have rebuffed Ford's overtures, and moved instead to forge an alliance with GM.@@@@1@21@@oe@2-2-2013
20632012@unknown@formal@none@1@S@Jaguar officials have indicated they are close to wrapping up a friendly alliance with GM that would preserve Jaguar's independence, but no deal has been announced.@@@@1@26@@oe@2-2-2013
20632013@unknown@formal@none@1@S@Ford, on the other hand, has said it's willing to bid for all of Jaguar, despite the objections of Jaguar chairman Sir John Egan.@@@@1@24@@oe@2-2-2013
20632014@unknown@formal@none@1@S@Analysts continued to speculate late last week that Ford may try to force the issue by calling for a special shareholder's meeting and urging that the government and Jaguar holders remove the barriers to a full bidding contest before December 1990.@@@@1@41@@oe@2-2-2013
20632015@unknown@formal@none@1@S@But a Ford spokeswoman in Dearborn said Friday the company hasn't requested such a meeting yet.@@@@1@16@@oe@2-2-2013
20632016@unknown@formal@none@1@S@Individuals close to the situation believe Ford officials will seek a meeting this week with Sir John to outline their proposal for a full bid.@@@@1@25@@oe@2-2-2013
20632017@unknown@formal@none@1@S@Any discussions with Ford could postpone the Jaguar-GM deal, headed for completion within the next two weeks.@@@@1@17@@oe@2-2-2013
20632018@unknown@formal@none@1@S@The GM agreement is expected to retain Jaguar's independence by involving an eventual 30% stake for the U.S. auto giant as well as joint manufacturing and marketing ventures.@@@@1@28@@oe@2-2-2013
20632019@unknown@formal@none@1@S@Jaguar and GM hope to win Jaguar shareholders approval for the accord partly by structuring it in a way that wouldn't preclude a full Ford bid once the golden share expires.@@@@1@31@@oe@2-2-2013
20632020@unknown@formal@none@1@S@"There's either a minority {stake} package capable of getting Jaguar shareholder approval or there isn't," said one knowledgeable individual. "@@@@1@20@@oe@2-2-2013
20632021@unknown@formal@none@1@S@If there isn't, {the deal} won't be put forward" to shareholders.@@@@1@11@@oe@2-2-2013
20632022@unknown@formal@none@1@S@Union sentiment also could influence shareholder reaction to a Jaguar-GM accord.@@@@1@11@@oe@2-2-2013
20632023@unknown@formal@none@1@S@GM's U.K. unit holds crucial talks today with union officials about its consideration of an Ellesmere Port site for its first major engine plant in Britain.@@@@1@26@@oe@2-2-2013
20632024@unknown@formal@none@1@S@One auto-industry union leader said, "If they try to build it somewhere else {in Europe} besides the U.K., they are going to be in big trouble" with unionists over any Jaguar deal.@@@@1@32@@oe@2-2-2013
20633001@unknown@formal@none@1@S@These are the last words Abbie Hoffman ever uttered, more or less, before he killed himself.@@@@1@16@@oe@2-2-2013
20633002@unknown@formal@none@1@S@And You Are There, sort of:@@@@1@6@@oe@2-2-2013
20633003@unknown@formal@none@1@S@ABBIE: "I'm OK, Jack.@@@@1@4@@oe@2-2-2013
20633004@unknown@formal@none@1@S@I'm OK."@@@@1@2@@oe@2-2-2013
20633005@unknown@formal@none@1@S@(listening) "Yeah.@@@@1@2@@oe@2-2-2013
20633006@unknown@formal@none@1@S@I'm out of bed.@@@@1@4@@oe@2-2-2013
20633007@unknown@formal@none@1@S@I got my feet on the floor.@@@@1@7@@oe@2-2-2013
20633008@unknown@formal@none@1@S@Yeah.@@@@1@1@@oe@2-2-2013
20633009@unknown@formal@none@1@S@Two feet.@@@@1@2@@oe@2-2-2013
20633010@unknown@formal@none@1@S@I'll see you Wednesday? . . . Thursday."@@@@1@8@@oe@2-2-2013
20633011@unknown@formal@none@1@S@He listens impassively.@@@@1@3@@oe@2-2-2013
20633012@unknown@formal@none@1@S@ABBIE (cont'd.): "I'll always be with you, Jack.@@@@1@8@@oe@2-2-2013
20633013@unknown@formal@none@1@S@Don't worry."@@@@1@2@@oe@2-2-2013
20633014@unknown@formal@none@1@S@Abbie lies back and leaves the frame empty.@@@@1@8@@oe@2-2-2013
20633015@unknown@formal@none@1@S@Of course that wasn't the actual conversation the late anti-war activist, protest leader and founder of the Yippies ever had with his brother.@@@@1@23@@oe@2-2-2013
20633016@unknown@formal@none@1@S@It's a script pieced together from interviews by CBS News for a re-enactment, a dramatic rendering by an actor of Mr. Hoffman's ultimately unsuccessful struggle with depression.@@@@1@27@@oe@2-2-2013
20633017@unknown@formal@none@1@S@The segment is soon to be broadcast on the CBS News series "Saturday Night With Connie Chung," thus further blurring the distinction between fiction and reality in TV news.@@@@1@29@@oe@2-2-2013
20633018@unknown@formal@none@1@S@It is the New Journalism come to television.@@@@1@8@@oe@2-2-2013
20633019@unknown@formal@none@1@S@Ms. Chung's program is just one of several network shows (and many more in syndication) that rely on the controversial technique of reconstructing events, using actors who are supposed to resemble real people, living and dead.@@@@1@36@@oe@2-2-2013
20633020@unknown@formal@none@1@S@Ms. Chung's, however, is said to be the only network news program in history to employ casting directors.@@@@1@18@@oe@2-2-2013
20633021@unknown@formal@none@1@S@Abbie Hoffman in this case is to be played by Hollywood actor Paul Lieber, who isn't new to the character.@@@@1@20@@oe@2-2-2013
20633022@unknown@formal@none@1@S@He was Mr. Hoffman in a 1979 Los Angeles production of a play called "The Chicago Conspiracy Trial."@@@@1@18@@oe@2-2-2013
20633023@unknown@formal@none@1@S@Television news, of course, has always been part show-biz.@@@@1@9@@oe@2-2-2013
20633024@unknown@formal@none@1@S@Broadcasters have a healthy appreciation of the role entertainment values play in captivating an audience.@@@@1@15@@oe@2-2-2013
20633025@unknown@formal@none@1@S@But, as CBS Broadcast Group president Howard Stringer puts it, the network now needs to "broaden the horizons of nonfiction television, and that includes some experimentation."@@@@1@26@@oe@2-2-2013
20633026@unknown@formal@none@1@S@Since its premiere Sept. 16, the show on which Ms. Chung appears has used an actor to portray the Rev. Vernon Johns, a civil-rights leader, and one to play a teenage drug dealer.@@@@1@33@@oe@2-2-2013
20633027@unknown@formal@none@1@S@It has depicted the bombing of Pan Am flight 103 over the Scottish town of Lockerbie.@@@@1@16@@oe@2-2-2013
20633028@unknown@formal@none@1@S@On Oct. 21, it did a rendition of the kidnapping and imprisonment of Associated Press correspondent Terry Anderson, who was abducted in March 1985 and is believed to be held in Lebanon.@@@@1@32@@oe@2-2-2013
20633029@unknown@formal@none@1@S@The production had actors playing Mr. Anderson and former hostages David Jacobsen, the Rev. Benjamin Weir and Father Lawrence Jenco.@@@@1@20@@oe@2-2-2013
20633030@unknown@formal@none@1@S@ABC News has similarly branched out into entertainment gimmickry.@@@@1@9@@oe@2-2-2013
20633031@unknown@formal@none@1@S@"Prime Time Live," a new show this season featuring Sam Donaldson and Diane Sawyer, has a studio audience that applauds and that one night (to the embarrassment of the network) waved at the camera like the crowd on "Let's Make a Deal."@@@@1@42@@oe@2-2-2013
20633032@unknown@formal@none@1@S@(ABC stops short of using an "applause" sign and a comic to warm up the audience.@@@@1@16@@oe@2-2-2013
20633033@unknown@formal@none@1@S@The stars do that themselves.)@@@@1@5@@oe@2-2-2013
20633034@unknown@formal@none@1@S@NBC News has produced three episodes of an occasional series produced by Sid Feders called "Yesterday, Today and Tomorrow," starring Maria Shriver, Chuck Scarborough and Mary Alice Williams, that also gives work to actors.@@@@1@34@@oe@2-2-2013
20633035@unknown@formal@none@1@S@Call it a fad.@@@@1@4@@oe@2-2-2013
20633036@unknown@formal@none@1@S@Or call it the wave of the future.@@@@1@8@@oe@2-2-2013
20633037@unknown@formal@none@1@S@NBC's re-creations are produced by Cosgrove-Meurer Productions, which also makes the successful prime-time NBC Entertainment series "Unsolved Mysteries."@@@@1@18@@oe@2-2-2013
20633038@unknown@formal@none@1@S@The marriage of news and theater, if not exactly inevitable, has been consummated nonetheless.@@@@1@14@@oe@2-2-2013
20633039@unknown@formal@none@1@S@News programs, particularly if they score well in the ratings, appeal to the networks' cost-conscious corporate parents because they are so much less expensive to produce than an entertainment show is -- somewhere between $400,000 and $500,000 for a one-hour program.@@@@1@41@@oe@2-2-2013
20633040@unknown@formal@none@1@S@Entertainment shows tend to cost twice that.@@@@1@7@@oe@2-2-2013
20633041@unknown@formal@none@1@S@Re-enactments have been used successfully for several seasons on such syndicated "tabloid TV" shows as "A Current Affair," which is produced by the Fox Broadcasting Co. unit of Rupert Murdoch's News Corp.@@@@1@32@@oe@2-2-2013
20633042@unknown@formal@none@1@S@That show, whose host is Ms. Chung's husband, Maury Povich, has a particular penchant for grisly murders and stories having to do with sex -- the Robert Chambers murder case, the Rob Lowe tapes, what have you.@@@@1@37@@oe@2-2-2013
20633043@unknown@formal@none@1@S@Gerald Stone, the executive producer of "A Current Affair," says, "We have opened eyes to being a little less conservative and more imaginative in how to present the news."@@@@1@29@@oe@2-2-2013
20633044@unknown@formal@none@1@S@Nowhere have eyes been opened wider than at CBS News.@@@@1@10@@oe@2-2-2013
20633045@unknown@formal@none@1@S@At 555 W. 57th St. in Manhattan, one floor below the offices of "60 Minutes," the most successful prime-time news program ever, actors wait in the reception area to audition for "Saturday Night With Connie Chung."@@@@1@36@@oe@2-2-2013
20633046@unknown@formal@none@1@S@CBS News sends scripts to agents, who pass them along to clients.@@@@1@12@@oe@2-2-2013
20633047@unknown@formal@none@1@S@The network deals a lot with unknowns, including Scott Wentworth, who portrayed Mr. Anderson, and Bill Alton as Father Jenco, but the network has some big names to contend with, too.@@@@1@31@@oe@2-2-2013
20633048@unknown@formal@none@1@S@James Earl Jones is cast to play the Rev. Mr. Johns.@@@@1@11@@oe@2-2-2013
20633049@unknown@formal@none@1@S@Ned Beatty may portray former California Gov. Pat Brown in a forthcoming epsiode on Caryl Chessman, the last man to be executed in California, in 1960.@@@@1@26@@oe@2-2-2013
20633050@unknown@formal@none@1@S@"Saturday Night" has cast actors to appear in future stories ranging from the abortion rights of teen-agers to a Nov. 4 segment on a man named Willie Bosket, who calls himself a "monster" and is reputed to be the toughest prisoner in New York.@@@@1@44@@oe@2-2-2013
20633051@unknown@formal@none@1@S@CBS News, which as recently as two years ago fired hundreds of its employees in budget cutbacks, now hires featured actors beginning at $2,700 a week.@@@@1@26@@oe@2-2-2013
20633052@unknown@formal@none@1@S@That isn't much compared with what Bill Cosby makes, or even Connie Chung for that matter (who is paid $1.6 million a year and who recently did a guest shot of her own on the sitcom "Murphy Brown").@@@@1@38@@oe@2-2-2013
20633053@unknown@formal@none@1@S@But the money isn't peanuts either, particularly for a news program.@@@@1@11@@oe@2-2-2013
20633054@unknown@formal@none@1@S@CBS News is also re-enacting the 1979 Three Mile Island nuclear accident in Middletown, Pa., with something less than a cast of thousands.@@@@1@23@@oe@2-2-2013
20633055@unknown@formal@none@1@S@It is combing the town of 10,000 for about 200 extras.@@@@1@11@@oe@2-2-2013
20633056@unknown@formal@none@1@S@On Oct. 20, the town's mayor, Robert Reid, made an announcement on behalf of CBS during half-time at the Middletown High School football game asking for volunteers.@@@@1@27@@oe@2-2-2013
20633057@unknown@formal@none@1@S@"There was a roll of laughter through the stands," says Joe Sukle, the editor of the weekly Press and Journal in Middletown.@@@@1@22@@oe@2-2-2013
20633058@unknown@formal@none@1@S@"They're filming right now at the bank down the street, and they want shots of people getting out of cars and kids on skateboards.@@@@1@24@@oe@2-2-2013
20633059@unknown@formal@none@1@S@They are approaching everyone on the street and asking if they want to be in a docudrama."@@@@1@17@@oe@2-2-2013
20633060@unknown@formal@none@1@S@Mr. Sukle says he wouldn't dream of participating himself:@@@@1@9@@oe@2-2-2013
20633061@unknown@formal@none@1@S@"No way.@@@@1@2@@oe@2-2-2013
20633062@unknown@formal@none@1@S@I think re-enactments stink."@@@@1@4@@oe@2-2-2013
20633063@unknown@formal@none@1@S@Though a re-enactment may have the flavor, Hollywood on the Hudson it isn't.@@@@1@13@@oe@2-2-2013
20633064@unknown@formal@none@1@S@Some producers seem tentative about the technique, squeamish even.@@@@1@9@@oe@2-2-2013
20633065@unknown@formal@none@1@S@So the results, while not news, aren't exactly theater either, at least not good theater.@@@@1@15@@oe@2-2-2013
20633066@unknown@formal@none@1@S@And some people do think that acting out scripts isn't worthy of CBS News, which once lent prestige to the network and set standards for the industry.@@@@1@27@@oe@2-2-2013
20633067@unknown@formal@none@1@S@In his review of "Saturday Night With Connie Chung," Tom Shales, the TV critic of the Washington Post and generally an admirer of CBS, wrote that while the show is "impressive, . . . one has to wonder if this is the proper direction for a network news division to take."@@@@1@51@@oe@2-2-2013
20633068@unknown@formal@none@1@S@Re-creating events has, in general, upset news traditionalists, including former CBS News President Richard S. Salant and former NBC News President Reuven Frank, former CBS News anchorman Walter Cronkite and the new dean of the Columbia University Graduate School of Journalism, Joan Konner.@@@@1@43@@oe@2-2-2013
20633069@unknown@formal@none@1@S@Says she: "Once you add dramatizations, it's no longer news, it's drama, and that has no place on a network news broadcast. . . .@@@@1@25@@oe@2-2-2013
20633070@unknown@formal@none@1@S@They should never be on.@@@@1@5@@oe@2-2-2013
20633071@unknown@formal@none@1@S@Never."@@@@1@1@@oe@2-2-2013
20633072@unknown@formal@none@1@S@Criticism of the Abbie Hoffman segment is particularly scathing among people who knew and loved the man.@@@@1@17@@oe@2-2-2013
20633073@unknown@formal@none@1@S@That includes his companion of 15 years, Johanna Lawrenson, as well as his former wife, Anita.@@@@1@16@@oe@2-2-2013
20633074@unknown@formal@none@1@S@Both women say they also find it distasteful that CBS News is apparently concentrating on Mr. Hoffman's problems as a manic-depressive.@@@@1@21@@oe@2-2-2013
20633075@unknown@formal@none@1@S@"This is dangerous and misrepresents Abbie's life," says Ms. Lawrenson, who has had an advance look at the 36-page script.@@@@1@20@@oe@2-2-2013
20633076@unknown@formal@none@1@S@"It's a sensational piece about someone who is not here to defend himself."@@@@1@13@@oe@2-2-2013
20633077@unknown@formal@none@1@S@Mrs. Hoffman says that dramatization "makes the truth flexible.@@@@1@9@@oe@2-2-2013
20633078@unknown@formal@none@1@S@It takes one person's account and gives it authenticity."@@@@1@9@@oe@2-2-2013
20633079@unknown@formal@none@1@S@CBS News interviewed Jack Hoffman and his sister, Phyllis, as well as Mr. Hoffman's landlord in Solebury Township, Pa.@@@@1@19@@oe@2-2-2013
20633080@unknown@formal@none@1@S@Also Jonathan Silvers, who collaborated with Mr. Hoffman on two books.@@@@1@11@@oe@2-2-2013
20633081@unknown@formal@none@1@S@Mr. Silvers says, "I wanted to be interviewed to get Abbie's story out, and maybe talking about the illness will do some good."@@@@1@23@@oe@2-2-2013
20633082@unknown@formal@none@1@S@The executive producer of "Saturday Night With Connie Chung," Andrew Lack, declines to discuss re-creactions as a practice or his show, in particular.@@@@1@23@@oe@2-2-2013
20633083@unknown@formal@none@1@S@"I don't talk about my work," he says.@@@@1@8@@oe@2-2-2013
20633084@unknown@formal@none@1@S@The president of CBS News, David W. Burke, didn't return numerous telephone calls.@@@@1@13@@oe@2-2-2013
20633085@unknown@formal@none@1@S@One person close to the process says it would not be in the best interest of CBS News to comment on a "work in progress," such as the Hoffman re-creation, but says CBS News is "aware" of the concerns of Ms. Lawrenson and Mr. Hoffman's former wife.@@@@1@47@@oe@2-2-2013
20633086@unknown@formal@none@1@S@Neither woman was invited by CBS News to participate in a round-table discussion about Mr. Hoffman that is to follow the re-enactment.@@@@1@22@@oe@2-2-2013
20633087@unknown@formal@none@1@S@Mr. Lieber, the actor who plays Mr. Hoffman, says he was concerned at first that the script would "misrepresent an astute political mind, one that I admired," but that his concerns were allayed.@@@@1@33@@oe@2-2-2013
20633088@unknown@formal@none@1@S@The producers, he says, did a good job of depicting someone "who had done so much, but who was also a manic-depressive.@@@@1@22@@oe@2-2-2013
20634001@unknown@formal@none@1@S@Dentsu Inc., the world's largest advertising agency on the strength of its dominance in the Japanese market, is setting its sights on overseas expansion.@@@@1@24@@oe@2-2-2013
20634002@unknown@formal@none@1@S@Last year, Dentsu started HDM, a joint network with U.S. ad agency Young & Rubicam and Eurocom of France.@@@@1@19@@oe@2-2-2013
20634003@unknown@formal@none@1@S@A few months ago, Dentsu acquired 69% of Australian agency Fortune Communication Holdings Ltd. for 5.9 million Australian dollars (US$4.6 million).@@@@1@21@@oe@2-2-2013
20634004@unknown@formal@none@1@S@Dentsu has U.S. subsidiaries, but they keep low profiles.@@@@1@9@@oe@2-2-2013
20634005@unknown@formal@none@1@S@Now, the giant marketing company, which holds 25% of Japan's 4.4 trillion yen ($30.96 billion) advertising industry, is considering the acquisition of an advertising network in the U.S. or Europe.@@@@1@30@@oe@2-2-2013
20634006@unknown@formal@none@1@S@What is driving Dentsu's international expansion largely is the need to keep up with its Japanese clients as they grow in the U.S. and Europe.@@@@1@25@@oe@2-2-2013
20634007@unknown@formal@none@1@S@"If we don't do something . . . we won't be able to catch up with demand," says a Dentsu spokesman.@@@@1@21@@oe@2-2-2013
20634008@unknown@formal@none@1@S@"Our president said acquisition is an effective method."@@@@1@8@@oe@2-2-2013
20634009@unknown@formal@none@1@S@Last year, Dentsu's foreign business accounted for less than 10% of total billings, but the company is aiming at 20% in the near future.@@@@1@24@@oe@2-2-2013
20634010@unknown@formal@none@1@S@So far, it appears cautious about taking the big step.@@@@1@10@@oe@2-2-2013
20634011@unknown@formal@none@1@S@For example, the spokesman says Dentsu has been approached by banks and securities companies a number of times to invest in the troubled British marketing group Saatchi & Saatchi PLC.@@@@1@30@@oe@2-2-2013
20634012@unknown@formal@none@1@S@But he said Dentsu hasn't looked seriously at Saatchi.@@@@1@9@@oe@2-2-2013
20634013@unknown@formal@none@1@S@Though Dentsu says it has no concrete acquisition plans or deadlines, it is laying the groundwork for international growth.@@@@1@19@@oe@2-2-2013
20634014@unknown@formal@none@1@S@It is setting up a special team in charge of international markets and training workers to do business abroad.@@@@1@19@@oe@2-2-2013
20634015@unknown@formal@none@1@S@For the year ended March 31, Dentsu sales rose 19% to $8.9 billion from $7.5 billion, and net income jumped 59% to $102 million from $64 million.@@@@1@27@@oe@2-2-2013
20634016@unknown@formal@none@1@S@Dentsu's billings last year were larger than those of Young & Rubicam, the world's second-largest ad agency, according to a survey by the publication Advertising Age.@@@@1@26@@oe@2-2-2013
20634017@unknown@formal@none@1@S@But success overseas in unfamiliar markets could be trickier than for other industries such as manufacturers.@@@@1@16@@oe@2-2-2013
20634018@unknown@formal@none@1@S@On its own, Dentsu's muscle in Japan may count for little in major foreign markets when seeking non-Japanese clients.@@@@1@19@@oe@2-2-2013
20634019@unknown@formal@none@1@S@Thus, an acquisition may prove the necessary course.@@@@1@8@@oe@2-2-2013
20634020@unknown@formal@none@1@S@But Japanese agencies are cautious about expanding abroad because client relationships are different.@@@@1@13@@oe@2-2-2013
20634021@unknown@formal@none@1@S@Japanese agencies do business with rival clients in the same industry, a practice "that would be unacceptable by traditional Western conflict rules," says Roy Warman, the London chief executive of Saatchi & Saatchi's communications division.@@@@1@35@@oe@2-2-2013
20634022@unknown@formal@none@1@S@Although acquiring a foreign company would expand Japanese advertising agencies' business to foreign clients, many clients would also be Japanese companies expanding overseas, says the Dentsu spokesman.@@@@1@27@@oe@2-2-2013
20634023@unknown@formal@none@1@S@But the different business system would make it hard for Dentsu to provide these Japanese companies the same kind of services they do in Japan.@@@@1@25@@oe@2-2-2013
20635001@unknown@formal@none@1@S@Ciba-Geigy AG, the big Swiss chemicals company, said that it agreed in a letter of intent with Corning Inc. to acquire Corning's 50% share of Ciba Corning Diagnostics Corp., based in Medfield, Mass.@@@@1@33@@oe@2-2-2013
20635002@unknown@formal@none@1@S@Ciba Corning, which had been a 50-50 venture between Basel-based Ciba-Geigy and Corning, has annual sales of about $300 million, the announcement said.@@@@1@23@@oe@2-2-2013
20635003@unknown@formal@none@1@S@Terms of the transaction weren't disclosed.@@@@1@6@@oe@2-2-2013
20635004@unknown@formal@none@1@S@Ciba Corning makes clinical diagnostics systems and related products for the medical-care industry.@@@@1@13@@oe@2-2-2013
20635005@unknown@formal@none@1@S@The announcement said the acquisition should be completed by December after a definitive agreement is completed and regulatory approval is received.@@@@1@21@@oe@2-2-2013
20635006@unknown@formal@none@1@S@Ciba-Geigy intends to develop the Ciba Corning unit into a "substantial business," making the unit an "integral part" of Ciba-Geigy's "comprehensive disease management concept.@@@@1@24@@oe@2-2-2013
20636001@unknown@formal@none@1@S@The NBC network canceled its first new series of the fall TV season, killing Mel Brooks's wacky hotel comedy "The Nutt House."@@@@1@22@@oe@2-2-2013
20636002@unknown@formal@none@1@S@The show, one of five new NBC series, is the second casualty of the three networks so far this fall.@@@@1@20@@oe@2-2-2013
20636003@unknown@formal@none@1@S@Last week CBS Inc. canceled "The People Next Door."@@@@1@9@@oe@2-2-2013
20636004@unknown@formal@none@1@S@NBC's comedy had aired Wednesdays at 9:30 p.m. and in five outings had drawn an average of only 13.2% of homes, lagging behind the Jamie Lee Curtis comedy "Anything But Love" on ABC and CBS's one-hour drama "Jake and the Fatman."@@@@1@41@@oe@2-2-2013
20636005@unknown@formal@none@1@S@NBC, a unit of General Electric Co., hasn't decided on a permanent replacement for the canceled series.@@@@1@17@@oe@2-2-2013
20637001@unknown@formal@none@1@S@John Labatt Ltd. said it plans a private placement of 150 million Canadian dollars (US$127.5 million) in preferred shares, to be completed around Nov. 1.@@@@1@25@@oe@2-2-2013
20637002@unknown@formal@none@1@S@Proceeds will be used to reduce short-term debt at the beer and food concern, said Robert Vaux, vice president, finance.@@@@1@20@@oe@2-2-2013
20637003@unknown@formal@none@1@S@The preferred shares will carry a floating annual dividend equal to 72% of the 30-day bankers' acceptance rate until Dec. 31, 1994.@@@@1@22@@oe@2-2-2013
20637004@unknown@formal@none@1@S@Thereafter, the rate will be renegotiated.@@@@1@6@@oe@2-2-2013
20637005@unknown@formal@none@1@S@Mr. Vaux said that if no agreement is reached, other buyers will be sought by bid or auction.@@@@1@18@@oe@2-2-2013
20637006@unknown@formal@none@1@S@The shares are redeemable after the end of 1994.@@@@1@9@@oe@2-2-2013
20637007@unknown@formal@none@1@S@Mr. Vaux said the share issue is part of a strategy to strengthen Labatt's balance sheet in anticipation of acquisitions to be made during the next 12 to 18 months.@@@@1@30@@oe@2-2-2013
20637008@unknown@formal@none@1@S@Labatt's has no takeover bids outstanding currently, he said.@@@@1@9@@oe@2-2-2013
20637009@unknown@formal@none@1@S@Lead underwriter to the issue is Toronto Dominion Securities Inc.@@@@1@10@@oe@2-2-2013
20638001@unknown@formal@none@1@S@Texas Instruments Inc., once a pioneer in portable computer technology, today will make a bid to reassert itself in that business by unveiling three small personal computers.@@@@1@27@@oe@2-2-2013
20638002@unknown@formal@none@1@S@The announcements are scheduled to be made in Temple, Texas, and include a so-called "notebook" PC that weighs less than seven pounds, has a built-in hard disk drive and is powered by Intel Corp.'s 286 microprocessor.@@@@1@36@@oe@2-2-2013
20638003@unknown@formal@none@1@S@That introduction comes only two weeks after Compaq Computer Corp., believing it had a lead of three to six months on competitors, introduced the first U.S. notebook computer with such features.@@@@1@31@@oe@2-2-2013
20638004@unknown@formal@none@1@S@Despite the inevitable comparison with Compaq, however, Texas Instruments' new notebook won't be a direct competitor.@@@@1@16@@oe@2-2-2013
20638005@unknown@formal@none@1@S@While Compaq sells its machines to businesses through computer retailers, Texas Instruments will be selling most of its machines to the industrial market and to value-added resellers and original-equipment manufacturers.@@@@1@30@@oe@2-2-2013
20638006@unknown@formal@none@1@S@The introductions also mark Texas Instruments' plunge back into a technology it has all but ignored for the past several years.@@@@1@21@@oe@2-2-2013
20638007@unknown@formal@none@1@S@Although the Dallas-based computer giant introduced the first portable data terminal in 1971 -- a 38-pound monster -- and the world's first microprocessor-based portable in 1976, the only portable machines it has introduced since the first part of the decade have been "dumb" terminals with limited on-board processing ability.@@@@1@49@@oe@2-2-2013
20638008@unknown@formal@none@1@S@It stopped selling a standard personal computer a while ago.@@@@1@10@@oe@2-2-2013
20638009@unknown@formal@none@1@S@Now that is about to change, as Texas Instruments begins marketing two 14-pound laptop PCs with 20 megabyte and 40 megabyte hard drives.@@@@1@23@@oe@2-2-2013
20638010@unknown@formal@none@1@S@The laptops are not revolutionary and, indeed, are tardy in a market first opened by GRiD Systems Corp., now a unit of Tandy Corp., almost two years ago.@@@@1@28@@oe@2-2-2013
20638011@unknown@formal@none@1@S@But the notebook, with the more advanced microprocessor and hard disk, is more innovative.@@@@1@14@@oe@2-2-2013
20638012@unknown@formal@none@1@S@Weighing 6.7 pounds with battery, the notebook measures 8.2 by 11.7 inches, has a 20-megabyte hard disk drive and boasts a backlit screen that is 22% larger than Compaq's.@@@@1@29@@oe@2-2-2013
20638013@unknown@formal@none@1@S@Its keyboard, according to industry consultants, is better than Compaq's, but its battery life of two to three hours is shorter.@@@@1@21@@oe@2-2-2013
20638014@unknown@formal@none@1@S@It doesn't have an internal floppy disk drive, although a snap-on drive can be purchased separately.@@@@1@16@@oe@2-2-2013
20638015@unknown@formal@none@1@S@Its greatest drawback may be its 3-inch thickness, big enough for one consultant to describe it as "clunky."@@@@1@18@@oe@2-2-2013
20638016@unknown@formal@none@1@S@List prices on the heavier Texas Instrument laptops will be $4,999 for the TI Model 25, with a 20 megabyte disk drive, and $5,599 for the 40-megabyte Model 45.@@@@1@29@@oe@2-2-2013
20638017@unknown@formal@none@1@S@The notebook, the TI Model 12, will be priced at $4,199.@@@@1@11@@oe@2-2-2013
20639001@unknown@formal@none@1@S@Shearson Lehman Hutton Inc. said it applied to Taiwanese securities officials for permission to open brokerage offices in Taipei.@@@@1@19@@oe@2-2-2013
20639002@unknown@formal@none@1@S@Shearson's application is the first since the Taiwan Securities and Exchange Commission announced June 21 that it would allow foreign brokerage firms to do business in that country.@@@@1@28@@oe@2-2-2013
20639003@unknown@formal@none@1@S@Taiwan officials are expected to review the Shearson application later this year.@@@@1@12@@oe@2-2-2013
20639004@unknown@formal@none@1@S@Under current rules, investors in Taiwan can buy overseas stocks only through the purchase of mutual funds issued by local and foreign investment trusts.@@@@1@24@@oe@2-2-2013
20639005@unknown@formal@none@1@S@The new rules will allow investors to buy foreign stocks directly.@@@@1@11@@oe@2-2-2013
20639006@unknown@formal@none@1@S@A spokesman for Shearson said the brokerage service will be directed at individual investors who want to buy foreign and domestic stocks.@@@@1@22@@oe@2-2-2013
20639007@unknown@formal@none@1@S@"It's an attractive market with good growth opportunities," he added.@@@@1@10@@oe@2-2-2013
20640001@unknown@formal@none@1@S@Retailers in the West and parts of the South are entering the critical Christmas shopping season with more momentum than those in other regions.@@@@1@24@@oe@2-2-2013
20640002@unknown@formal@none@1@S@In a new report, the International Council of Shopping Centers said sales of general merchandise in the West for the first seven months of 1989 rose 6.6% above year-earlier levels.@@@@1@30@@oe@2-2-2013
20640003@unknown@formal@none@1@S@Sales increased a more modest 4.8% in the South and 4.4% in the Midwest.@@@@1@14@@oe@2-2-2013
20640004@unknown@formal@none@1@S@But sales in the oil-patch state of Texas surged 12.9% and sales in South Carolina jumped 10.6% in the period, the New York trade group said.@@@@1@26@@oe@2-2-2013
20640005@unknown@formal@none@1@S@In the Northeast, however, sales declined 0.4% in the period, with sales in New England falling 2.6%.@@@@1@17@@oe@2-2-2013
20640006@unknown@formal@none@1@S@The numbers show that "we don't have a monolithic economy," said Isaac Lagnado, council research director.@@@@1@16@@oe@2-2-2013
20640007@unknown@formal@none@1@S@"There are a lot of have and have-not markets."@@@@1@9@@oe@2-2-2013
20640008@unknown@formal@none@1@S@Sales nationally rose 3.9% through July, the latest month for which the figures are available, the council said.@@@@1@18@@oe@2-2-2013
20640009@unknown@formal@none@1@S@The Northern California earthquake and Hurricane Hugo are likely to temporarily damp sales growth in the West and South Carolina.@@@@1@20@@oe@2-2-2013
20640010@unknown@formal@none@1@S@But Mr. Lagnado predicted the regional trends would continue through Christmas.@@@@1@11@@oe@2-2-2013
20640011@unknown@formal@none@1@S@"The big mo is as much of a factor in retailing as in politics," he said.@@@@1@16@@oe@2-2-2013
20640012@unknown@formal@none@1@S@The Christmas quarter is important to retailers because it represents roughly a third of their sales and nearly half of their profits.@@@@1@22@@oe@2-2-2013
20640013@unknown@formal@none@1@S@The council's report is based on data the trade group buys from the U.S. Census Bureau.@@@@1@16@@oe@2-2-2013
20640014@unknown@formal@none@1@S@The information on 125 metropolitan markets is supplied by retailers such as Sears, Roebuck & Co. and K mart Corp. as well as closely held concerns such as R.H. Macy & Co.@@@@1@32@@oe@2-2-2013
20640015@unknown@formal@none@1@S@The council plans to release its regional reports monthly.@@@@1@9@@oe@2-2-2013
20640016@unknown@formal@none@1@S@Mr. Lagnado said strength in employment appears to have the biggest impact on sales growth.@@@@1@15@@oe@2-2-2013
20640017@unknown@formal@none@1@S@El Paso, Austin and Fort Worth, the three strongest retail markets in the nation, are all located in Texas, where employment grew a relatively strong 2%.@@@@1@26@@oe@2-2-2013
20640018@unknown@formal@none@1@S@Massachusetts, which has lost jobs in the computer and defense-related industries, was the weakest link in bleak New England.@@@@1@19@@oe@2-2-2013
20640019@unknown@formal@none@1@S@The results reflect a reversal in the fortunes of the regions during the past two years.@@@@1@16@@oe@2-2-2013
20640020@unknown@formal@none@1@S@In 1987, the West had the slowest sales growth, and the South and the Midwest were first and second respectively, according to the council.@@@@1@24@@oe@2-2-2013
20640021@unknown@formal@none@1@S@Mr. Lagnado said that although retailers probably won't ever recover sales lost because of the California quake and Hurricane Hugo, they could see some benefits later on.@@@@1@27@@oe@2-2-2013
20640022@unknown@formal@none@1@S@Stores such as Sears that sell big-ticket durable goods might actually get a boost as consumers rush to replace items lost in the disasters, he said.@@@@1@26@@oe@2-2-2013
20641001@unknown@formal@none@1@S@Kerr-McGee Corp. said it will spend $42 million to purchase land and relocate its ammonium perchlorate storage facility to Clark County, Nev., from Henderson, Nev.@@@@1@25@@oe@2-2-2013
20641002@unknown@formal@none@1@S@The company said it will move the storage and cross-blending operations to a site 23 miles northeast of Las Vegas to distance the operations from residential areas.@@@@1@27@@oe@2-2-2013
20641003@unknown@formal@none@1@S@Ammonium perchlorate is an oxidizer that is mixed with a propellant to make rocket fuel used in the space shuttle and military rockets.@@@@1@23@@oe@2-2-2013
20641004@unknown@formal@none@1@S@In May 1988, an ammonium perchlorate plant in Henderson owned by an American Pacific Corp. unit was leveled by a series of explosions.@@@@1@23@@oe@2-2-2013
20641005@unknown@formal@none@1@S@After the explosion, Kerr-McGee temporarily shut down its facility just south of Las Vegas for a safety inspection.@@@@1@18@@oe@2-2-2013
20641006@unknown@formal@none@1@S@American Pacific and Kerr-McGee are the only two U.S. manufacturers of ammonium perchlorate.@@@@1@13@@oe@2-2-2013
20641007@unknown@formal@none@1@S@When the plant was destroyed, "I think everyone got concerned that the same thing would happen at our plant," a KerrMcGee spokeswoman said.@@@@1@23@@oe@2-2-2013
20641008@unknown@formal@none@1@S@That prompted Kerr-McGee to consider moving the potentially volatile storage facilities and cross-blending operations away from town.@@@@1@17@@oe@2-2-2013
20641009@unknown@formal@none@1@S@Kerr-McGee said it has purchased 3,350 acres from the federal government in Clark County and plans to begin construction early next year.@@@@1@22@@oe@2-2-2013
20641010@unknown@formal@none@1@S@The new facility is expected to begin operations in early 1991.@@@@1@11@@oe@2-2-2013
20641011@unknown@formal@none@1@S@The Henderson plant will continue its other chemical operations, the company said.@@@@1@12@@oe@2-2-2013
20642001@unknown@formal@none@1@S@This maker of electronic devices said it replaced all five incumbent directors at a special meeting called by Milton B. Hollander, whose High Technology Holding Co. of Stamford, Conn. acquired most of its 49.4% stake in Newport in August.@@@@1@39@@oe@2-2-2013
20642002@unknown@formal@none@1@S@Elected as directors were Mr. Hollander, Frederick Ezekiel, Frederick Ross, Arthur B. Crozier and Rose Pothier.@@@@1@16@@oe@2-2-2013
20642003@unknown@formal@none@1@S@Removed from office were George Pratt, Robert E. Davis, Norman Gray, John Virtue, corporate secretary, and Barrett B. Weekes, chairman, president and chief executive officer.@@@@1@25@@oe@2-2-2013
20642004@unknown@formal@none@1@S@Newport officials didn't respond Friday to requests to discuss the changes at the company but earlier, Mr. Weekes had said Mr. Hollander wanted to have his own team on the board.@@@@1@31@@oe@2-2-2013
20643001@unknown@formal@none@1@S@Shiseido Co., Japan's leading cosmetics producer, said it had net income of 5.64 billion yen ($39.7 million) in its first half, which ended Sept. 30.@@@@1@25@@oe@2-2-2013
20643002@unknown@formal@none@1@S@Exact comparisons with the previous year were unavailable because of a change in the company's fiscal calendar.@@@@1@17@@oe@2-2-2013
20643003@unknown@formal@none@1@S@The Tokyo-based company had net of 3.73 billion yen in the previous reporting period, which was the four months ended March 31.@@@@1@22@@oe@2-2-2013
20643004@unknown@formal@none@1@S@Sales in the first half came to 159.92 billion yen, compared with 104.79 billion yen in the four-month period.@@@@1@19@@oe@2-2-2013
20643005@unknown@formal@none@1@S@Shiseido predicted that sales for the year ending next March 31 will be 318 billion yen, compared with 340.83 billion yen in the year ended Nov. 30, 1988.@@@@1@28@@oe@2-2-2013
20643006@unknown@formal@none@1@S@It said it expects net to rise to 11 billion yen from 8.22 billion yen.@@@@1@15@@oe@2-2-2013
20644001@unknown@formal@none@1@S@Bruce W. Wilkinson, president and chief executive officer, was named to the additional post of chairman of this architectural and design services concern.@@@@1@23@@oe@2-2-2013
20644002@unknown@formal@none@1@S@Mr. Wilkinson, 45 years old, succeeds Thomas A. Bullock, 66, who is retiring as chairman but will continue as a director and chairman of the executive committee.@@@@1@27@@oe@2-2-2013
20645001@unknown@formal@none@1@S@Merger and acquisition activity in the third quarter exceeded the year-earlier pace, said Merrill Lynch & Co.'s W.T. Grimm & Co. unit in Schaumburg, Ill.@@@@1@25@@oe@2-2-2013
20645002@unknown@formal@none@1@S@A total of 672 transactions were announced during the latest quarter, up 13% from the year-earlier period's 597, Grimm said.@@@@1@20@@oe@2-2-2013
20645003@unknown@formal@none@1@S@Transactions in which prices were disclosed totaled $71.9 billion, up 36% from $52.9 billion a year earlier, the company added.@@@@1@20@@oe@2-2-2013
20645004@unknown@formal@none@1@S@Grimm counted 16 transactions valued at $1 billion or more in the latest period, twice as many as a year earlier.@@@@1@21@@oe@2-2-2013
20645005@unknown@formal@none@1@S@The largest was the $12 billion merger creating Bristol-Myers Squibb Co.@@@@1@11@@oe@2-2-2013
20645006@unknown@formal@none@1@S@In the first nine months, 1,977 transactions were announced, up 15% from 1,716 in the year-earlier period.@@@@1@17@@oe@2-2-2013
20645007@unknown@formal@none@1@S@Transactions in which prices were disclosed totaled $188.1 billion, up 15% from $163.2 billion a year earlier.@@@@1@17@@oe@2-2-2013
20645008@unknown@formal@none@1@S@Citing current stock market conditions and the trend away from highly leveraged transactions, Grimm said it wasn't certain that the total value of transactions for the year will exceed the record $247 billion in 1988.@@@@1@35@@oe@2-2-2013
20646001@unknown@formal@none@1@S@MEDICINE SHOPPE INTERNATIONAL Inc. declared a 3-for-2 stock split, and substantially boosted the dividend payout.@@@@1@15@@oe@2-2-2013
20646002@unknown@formal@none@1@S@The franchiser of pharmacies said the added shares will be distributed Dec. 4 to stock of record Nov. 13.@@@@1@19@@oe@2-2-2013
20646003@unknown@formal@none@1@S@The company also changed its dividend policy, under which holders had received an annual 10 cents-a-share payment, by declaring a four-cents-a-share dividend, to be paid quarterly on post-split shares.@@@@1@29@@oe@2-2-2013
20647001@unknown@formal@none@1@S@NBI Inc. said that it cannot pay the Oct. 31 dividend on its Series A convertible preferred stock, allowing the stock's holder to convert the shares into as much as 27.7% of NBI's shares outstanding.@@@@1@35@@oe@2-2-2013
20647002@unknown@formal@none@1@S@NBI said that it has the funds to pay the dividend, but that it doesn't have the surplus or profit required under Delaware law for payment of the dividend.@@@@1@29@@oe@2-2-2013
20647003@unknown@formal@none@1@S@All the preferred stock is held by the Yukon Office Supply Stock Ownership Plan.@@@@1@14@@oe@2-2-2013
20647004@unknown@formal@none@1@S@Under terms of the stock, the Yukon ESOP can demand that the stock be redeemed for $4,090,000 on Nov. 30, but NBI said it is legally prohibited from making the redemption.@@@@1@31@@oe@2-2-2013
20647005@unknown@formal@none@1@S@Failure to pay the dividend allows Yukon to convert all or some of its shares into NBI common after Nov. 30, at a conversion price based on NBI's closing stock price.@@@@1@31@@oe@2-2-2013
20647006@unknown@formal@none@1@S@NBI, a maker of word-processing systems, said it can't predict if any of the preferred stock will be converted.@@@@1@19@@oe@2-2-2013
20647007@unknown@formal@none@1@S@NBI also said it has hired Prudential-Bache Securities Inc. as its financial adviser and investment banker to help it restructure financially and improve its balance sheet.@@@@1@26@@oe@2-2-2013
20648001@unknown@formal@none@1@S@Insurers may see claims resulting from the San Francisco earthquake totaling nearly $1 billion -- far less than the claims they face from Hurricane Hugo -- but the recent spate of catastrophes should jolt property insurance rates in coming months.@@@@1@40@@oe@2-2-2013
20648002@unknown@formal@none@1@S@The property claims service division of the American Insurance Services Group estimated insured losses from the earthquake at $960 million.@@@@1@20@@oe@2-2-2013
20648003@unknown@formal@none@1@S@This estimate doesn't include claims under workers' compensation, life, health disability and liability insurance and damage to infrastructure such as bridges, highways and public buildings.@@@@1@25@@oe@2-2-2013
20648004@unknown@formal@none@1@S@The estimated earthquake losses are low compared with the $4 billion in claims that insurers face from Hurricane Hugo, which ripped through the Caribbean and the Carolinas last month.@@@@1@29@@oe@2-2-2013
20648005@unknown@formal@none@1@S@That's because only about 30% of California homes and businesses had earthquake insurance to cover the losses.@@@@1@17@@oe@2-2-2013
20648006@unknown@formal@none@1@S@However, insurance brokers and executives say that the combination of the Bay area earthquake, Hugo and last week's explosion at the Phillips Petroleum Co.'s refinery in Pasadena, Texas, will cause property insurance and reinsurance rates to jump.@@@@1@37@@oe@2-2-2013
20648007@unknown@formal@none@1@S@Other insurance rates such as casualty insurance, which would cover liability claims, aren't likely to firm right away, says Alice Cornish, an industry analyst with Northington Research in Avon, Conn.@@@@1@30@@oe@2-2-2013
20648008@unknown@formal@none@1@S@She believes the impact of losses from these catastrophes isn't likely to halt the growth of the industry's surplus capital next year.@@@@1@22@@oe@2-2-2013
20648009@unknown@formal@none@1@S@Property reinsurance rates are likely to climb first, analysts and brokers believe.@@@@1@12@@oe@2-2-2013
20648010@unknown@formal@none@1@S@"The reinsurance market has been bloodied by disasters" in the U.S. as well as in Great Britain and Europe, says Thomas Rosencrants, director of research at Interstate/Johnson Lane Inc. in Atlanta.@@@@1@31@@oe@2-2-2013
20648011@unknown@formal@none@1@S@Insurers typically retain a small percentage of the risks they underwrite and pass on the rest of the losses.@@@@1@19@@oe@2-2-2013
20648012@unknown@formal@none@1@S@Insurers buy this insurance protection for themselves by giving up a portion of the premiums they collect on a policy to another firm -- a reinsurance company, which, in turn, accepts a portion of any losses resulting from this policy.@@@@1@40@@oe@2-2-2013
20648013@unknown@formal@none@1@S@Insurers, such as Cigna Corp., Transamerica Corp, and Aetna Life & Casualty Co., buy reinsurance from other U.S.-based companies and Lloyd's of London for one catastrophe at a time.@@@@1@29@@oe@2-2-2013
20648014@unknown@formal@none@1@S@After Hugo hit, many insurers exhausted their reinsurance coverage and had to tap reinsurers to replace that coverage in case there were any other major disasters before the end of the year.@@@@1@32@@oe@2-2-2013
20648015@unknown@formal@none@1@S@After the earthquake two weeks ago, brokers say companies scrambled to replace reinsurance coverages again and Lloyd's syndicates turned to the London market excess lines for protection of their own.@@@@1@30@@oe@2-2-2013
20648016@unknown@formal@none@1@S@James Snedeker, senior vice president of Gill & Roeser Inc., a New York-based reinsurance broker, says insurers who took big losses this fall and had purchased little reinsurance in recent years will be asked to pay some pretty hefty rates if they want to buy reinsurance for 1990.@@@@1@48@@oe@2-2-2013
20648017@unknown@formal@none@1@S@However, companies with few catastrophe losses this year and already big buyers of reinsurance are likely to see their rates remain flat, or perhaps even decline slightly.@@@@1@27@@oe@2-2-2013
20648018@unknown@formal@none@1@S@Many companies will be negotiating their 1990 reinsurance contracts in the next few weeks.@@@@1@14@@oe@2-2-2013
20648019@unknown@formal@none@1@S@"It's a seller's market," said Mr. Snedeker of the reinsurance market right now.@@@@1@13@@oe@2-2-2013
20648020@unknown@formal@none@1@S@But some large insurers, such as State Farm Mutual Automobile Insurance Co., don't purchase reinsurance, but fund their own program.@@@@1@20@@oe@2-2-2013
20648021@unknown@formal@none@1@S@A few years ago, State Farm, the nation's largest home insurer, stopped buying reinsurance because no one carrier could provide all the coverage that it needed and the company found it cheaper to self-reinsure.@@@@1@34@@oe@2-2-2013
20648022@unknown@formal@none@1@S@The $472 million of losses State Farm expects from Hugo and an additional $300 million from the earthquake are less than 5% of State Farm's $16.7 billion total net worth.@@@@1@30@@oe@2-2-2013
20648023@unknown@formal@none@1@S@Since few insurers have announced what amount of losses they expect to see from the earthquake, it's impossible to get a clear picture of the quake's impact on fourth-quarter earnings, said Herbert Goodfriend at Prudential-Bache Securities Corp.@@@@1@37@@oe@2-2-2013
20648024@unknown@formal@none@1@S@Transamerica expects an after-tax charge of less than $3 million against fourth-quarter net; Hartford Insurance Group, a unit of ITT Corp., expects a $15 million or 10 cents after-tax charge; and Fireman's Fund Corp. expects a charge of no more than $50 million before taxes and after using its reinsurance.@@@@1@50@@oe@2-2-2013
20649001@unknown@formal@none@1@S@Sharp Corp., Tokyo, said net income in its first half rose 59% to 18.32 billion yen ($128.9 million) from 11.53 billion yen a year earlier.@@@@1@25@@oe@2-2-2013
20649002@unknown@formal@none@1@S@The consumer electronics, home appliances and information-processing concern said revenue in the six months ended Sept. 30 rose 8.9% to 517.85 billion yen from 475.6 billion yen.@@@@1@27@@oe@2-2-2013
20649003@unknown@formal@none@1@S@Sales of information-processing products and electric parts increased a strong 22% to 236.23 billion yen from 194.24 billion yen and accounted for 46% of total sales.@@@@1@26@@oe@2-2-2013
20649004@unknown@formal@none@1@S@In audio equipment, sales rose 13% to 44.3 billion yen from 39.19 billion yen.@@@@1@14@@oe@2-2-2013
20649005@unknown@formal@none@1@S@Sales of electric appliances were flat, and sales of electronic equipment declined slightly.@@@@1@13@@oe@2-2-2013
20649006@unknown@formal@none@1@S@Sharp projected sales for the current year ending March 31 at 1.6 trillion yen, a 7% increase the previous fiscal year.@@@@1@21@@oe@2-2-2013
20649007@unknown@formal@none@1@S@It said it expects net to rise 45% to 380 billion yen.@@@@1@12@@oe@2-2-2013
20650001@unknown@formal@none@1@S@Sun Microsystems Inc., a computer maker, announced the effectiveness of its registration statement for $125 million of 6 3/8% convertible subordinated debentures due Oct. 15, 1999.@@@@1@26@@oe@2-2-2013
20650002@unknown@formal@none@1@S@The company said the debentures are being issued at an issue price of $849 for each $1,000 principal amount and are convertible at any time prior to maturity at a conversion price of $25 a share.@@@@1@36@@oe@2-2-2013
20650003@unknown@formal@none@1@S@The debentures are available through Goldman, Sachs & Co.@@@@1@9@@oe@2-2-2013
20651001@unknown@formal@none@1@S@Nelson Holdings International Ltd. shareholders approved a 1-for-10 consolidation of the company's common stock at a special meeting.@@@@1@18@@oe@2-2-2013
20651002@unknown@formal@none@1@S@At the same time, shareholders approved the adoption of a rights plan and a super-majority voting approval requirement.@@@@1@18@@oe@2-2-2013
20651003@unknown@formal@none@1@S@They also approved the relocation of the company's registered office to Toronto from Vancouver and a name change to NHI Nelson Holdings International Ltd.@@@@1@24@@oe@2-2-2013
20651004@unknown@formal@none@1@S@Following the consolidation, the entertainment company, which has film and television operations in Beverly Hills, Calif., will have about 4.1 million shares outstanding.@@@@1@23@@oe@2-2-2013
20651005@unknown@formal@none@1@S@The number of authorized common shares will remain at 100 million.@@@@1@11@@oe@2-2-2013
20651006@unknown@formal@none@1@S@Under the rights plan, holders will have one right for each common share held, with each right entitling the purchase of one common share for 100 Canadian dollars.@@@@1@28@@oe@2-2-2013
20651007@unknown@formal@none@1@S@The rights plan would be triggered if a person or group acquires 20% or more of the common shares outstanding without making an offer to all shareholders.@@@@1@27@@oe@2-2-2013
20651008@unknown@formal@none@1@S@Under the super-majority amendment, certain mergers and other transactions would require approval of holders of 80% of the company's common shares outstanding.@@@@1@22@@oe@2-2-2013
20652001@unknown@formal@none@1@S@Wilfred American Educational Corp. said a federal grand jury in Boston indicted the operator of cosmetology and business schools for mail fraud.@@@@1@22@@oe@2-2-2013
20652002@unknown@formal@none@1@S@The charges in the 12-count indictment, which stem from events that allegedly occurred in late 1984 and early 1985, involve enrollment procedures of six students and the preparation of certain reports, Wilfred said.@@@@1@33@@oe@2-2-2013
20652003@unknown@formal@none@1@S@No individuals were charged in the indictment.@@@@1@7@@oe@2-2-2013
20652004@unknown@formal@none@1@S@Wilfred American said it will "vigorously defend" itself against the charges and added that the charges relate to procedures that it has since changed.@@@@1@24@@oe@2-2-2013
20652005@unknown@formal@none@1@S@Eight admissions representatives at two of Wilfred's former Massachusetts schools previously pleaded guilty to charges of aiding, abetting and counseling students to submit false financial-aid applications.@@@@1@26@@oe@2-2-2013
20652006@unknown@formal@none@1@S@Wilfred closed its Massachusetts schools earlier this year.@@@@1@8@@oe@2-2-2013
20652007@unknown@formal@none@1@S@In New York Stock Exchange composite trading Friday, Wilfred fell 6.25 cents to 93.75 cents a share.@@@@1@17@@oe@2-2-2013
20653001@unknown@formal@none@1@S@Rally's Inc. said it filed suit in U.S. District Court in Delaware against a group led by Burt Sugarman, seeking to block the investors from buying more shares.@@@@1@28@@oe@2-2-2013
20653002@unknown@formal@none@1@S@Rally's, a Louisville, Ky., fast-food chain, alleges that the three investors, who are directors of the company, broke securities laws because they didn't disclose their intentions to acquire a big Rally's stake.@@@@1@32@@oe@2-2-2013
20653003@unknown@formal@none@1@S@The group, led by Giant Group Ltd. and its chairman, Mr. Sugarman, owns about 45.2% of Rally's.@@@@1@17@@oe@2-2-2013
20653004@unknown@formal@none@1@S@In the Securities and Exchange Commission filings, the group has said it may seek control of Rally's.@@@@1@17@@oe@2-2-2013
20653005@unknown@formal@none@1@S@Mr. Sugarman called the lawsuit "not nice" and said his group will continue to push for control of the company and the removal of certain directors.@@@@1@26@@oe@2-2-2013
20653006@unknown@formal@none@1@S@He asserts that some directors, who have joined forces with company founder James Patterson, have ties to Wendy's, a competing hamburger chain.@@@@1@22@@oe@2-2-2013
20653007@unknown@formal@none@1@S@The Patterson group, which controls about 42% of Rally's shares, also may seek control.@@@@1@14@@oe@2-2-2013
20653008@unknown@formal@none@1@S@Rally's also said it formed a committee of three directors, who aren't associated with either the Patterson or Sugarman groups, to analyze the situation.@@@@1@24@@oe@2-2-2013
20654001@unknown@formal@none@1@S@Leaseway Transportation Corp. said it will restructure $192.5 million of certain subordinated debentures to reduce its debt obligations and interest expense.@@@@1@21@@oe@2-2-2013
20654002@unknown@formal@none@1@S@The 13.25% subordinated debentures due 2002 were issued in August 1987 as part of the $690 million financing for a leveraged buy-out of the company.@@@@1@25@@oe@2-2-2013
20654003@unknown@formal@none@1@S@Leaseway provides transportation services for manufacturers, distributors and retailers.@@@@1@9@@oe@2-2-2013
20654004@unknown@formal@none@1@S@Leaseway said it has begun discussions with certain institutional debt holders to review the proposed private placement transaction, which would exchange the debt for new subordinated debt instruments and equity securities.@@@@1@31@@oe@2-2-2013
20654005@unknown@formal@none@1@S@Specific terms are subject to review and a final agreement with debt holders, the company said.@@@@1@16@@oe@2-2-2013
20654006@unknown@formal@none@1@S@But the proposed transaction calls for an exchange of the debt for new debentures of lower face value and reduced cash interest.@@@@1@22@@oe@2-2-2013
20654007@unknown@formal@none@1@S@Also, debt holders would be offered an equity position in Leaseway, which in total would represent a controlling interest in the company.@@@@1@22@@oe@2-2-2013
20654008@unknown@formal@none@1@S@Drexel Burnham Lambert Inc. is the adviser on the transaction.@@@@1@10@@oe@2-2-2013
20654009@unknown@formal@none@1@S@Company officials said Leaseway fulfilled payment requirements of its debt obligations since the leveraged buy-out, but "our performance since the {buy-out} makes it imperative to implement actions that will further improve our cash flow.@@@@1@34@@oe@2-2-2013
20655001@unknown@formal@none@1@S@Nicaraguan President Daniel Ortega may have accomplished over the weekend what his U.S. antagonists have failed to do: revive a constituency for the Contra rebels.@@@@1@25@@oe@2-2-2013
20655002@unknown@formal@none@1@S@Lawmakers haven't publicly raised the possibility of renewing military aid to the Contras, and President Bush parried the question at a news conference here Saturday, saying only that "if there's an all-out military offensive, that's going to change the equation 180 degrees."@@@@1@42@@oe@2-2-2013
20655003@unknown@formal@none@1@S@But Mr. Ortega's threat over the weekend to end a 19-month cease-fire with the rebels seeking to topple him, effectively elevated the Contras as a policy priority just as they were slipping from the agendas of their most ardent supporters.@@@@1@40@@oe@2-2-2013
20655004@unknown@formal@none@1@S@Senate Majority Leader George Mitchell (D., Maine) said yesterday on NBC-TV's "Meet the Press" that Mr. Ortega's threat was "a very unwise move, particularly the timing of it."@@@@1@28@@oe@2-2-2013
20655005@unknown@formal@none@1@S@The threat came during a two-day celebration in Costa Rica to highlight Central America's progress toward democracy in the region, attended by President Bush, Canadian Prime Minister Brian Mulroney and 14 other Western Hemisphere leaders.@@@@1@35@@oe@2-2-2013
20655006@unknown@formal@none@1@S@Mr. Bush returned to Washington Saturday night.@@@@1@7@@oe@2-2-2013
20655007@unknown@formal@none@1@S@Mr. Ortega announced on Friday that he would end the cease-fire this week in response to the periodic Contra assaults against his army.@@@@1@23@@oe@2-2-2013
20655008@unknown@formal@none@1@S@Saturday, he amended his remarks to say that he would continue to abide by the cease-fire if the U.S. ends its financial support for the Contras.@@@@1@26@@oe@2-2-2013
20655009@unknown@formal@none@1@S@He asked that the remaining U.S. humanitarian aid be diverted to disarming and demobilizing the rebels.@@@@1@16@@oe@2-2-2013
20655010@unknown@formal@none@1@S@Not only did Mr. Ortega's comments come in the midst of what was intended as a showcase for the region, it came as Nicaragua is under special international scrutiny in anticipation of its planned February elections.@@@@1@36@@oe@2-2-2013
20655011@unknown@formal@none@1@S@Outside observers are gathering in Nicaragua to monitor the registration and treatment of opposition candidates.@@@@1@15@@oe@2-2-2013
20655012@unknown@formal@none@1@S@And important U.S. lawmakers must decide at the end of November if the Contras are to receive the rest of the $49 million in so-called humanitarian assistance under a bipartisan agreement reached with the Bush administration in March.@@@@1@38@@oe@2-2-2013
20655013@unknown@formal@none@1@S@The humanitarian assistance, which pays for supplies such as food and clothing for the rebels amassed along the Nicaraguan border with Honduras, replaced the military aid cut off by Congress in February 1988.@@@@1@33@@oe@2-2-2013
20655014@unknown@formal@none@1@S@While few lawmakers anticipated that the humanitarian aid would be cut off next month, Mr. Ortega's threat practically guarantees that the humanitarian aid will be continued.@@@@1@26@@oe@2-2-2013
20655015@unknown@formal@none@1@S@Senate Minority Leader Robert Dole (R., Kan.) said yesterday on "Meet the Press": "I would hope after his {Mr. Ortega's} act yesterday or the day before, we'd have unanimous support for quick action on remaining humanitarian aid."@@@@1@37@@oe@2-2-2013
20655016@unknown@formal@none@1@S@Sen. Dole also said he hoped for unanimous support for a resolution he plans to offer tomorrow denouncing the Nicaraguan leader.@@@@1@21@@oe@2-2-2013
20655017@unknown@formal@none@1@S@While renewing military aid had been considered out of the question, rejected by Congress and de-emphasized by the Bush administration, Mr. Ortega's statement provides Contra supporters with the opportunity to press the administration on the issue.@@@@1@36@@oe@2-2-2013
20655018@unknown@formal@none@1@S@"The administration should now state that if the {February} election is voided by the Sandinistas . . . they should call for military aid," said former Assistant Secretary of State Elliott Abrams.@@@@1@32@@oe@2-2-2013
20655019@unknown@formal@none@1@S@"In these circumstances, I think they'd win."@@@@1@7@@oe@2-2-2013
20655020@unknown@formal@none@1@S@Sen. Mitchell said that congressional Democrats intend to honor the March agreement to give non-lethal support to the Contras through the February elections, although he added that the agreement requires that the Contras not initiate any military action.@@@@1@38@@oe@2-2-2013
20655021@unknown@formal@none@1@S@Mr. Ortega's threat to breach the cease-fire comes as U.S. officials were acknowledging that the Contras have at times violated it themselves.@@@@1@22@@oe@2-2-2013
20655022@unknown@formal@none@1@S@Secretary of State James Baker, who accompanied President Bush to Costa Rica, told reporters Friday: "I have no reason to deny reports that some Contras ambushed some Sandinista soldiers."@@@@1@29@@oe@2-2-2013
20655023@unknown@formal@none@1@S@Mr. Baker's assistant for inter-American affairs, Bernard Aronson, while maintaining that the Sandinistas had also broken the cease-fire, acknowledged: "It's never very clear who starts what."@@@@1@26@@oe@2-2-2013
20655024@unknown@formal@none@1@S@He added that the U.S. has cut off aid to some rebel units when it was determined that those units broke the cease-fire.@@@@1@23@@oe@2-2-2013
20655025@unknown@formal@none@1@S@In addition to undermining arguments in favor of ending Contra aid, Mr. Ortega's remarks also played to the suspicions of some U.S. officials and conservatives outside the government that he is searching for ways to manipulate or void the February elections.@@@@1@41@@oe@2-2-2013
20655026@unknown@formal@none@1@S@Administration officials traveling with President Bush in Costa Rica interpreted Mr. Ortega's wavering as a sign that he isn't responding to the military attacks so much as he is searching for ways to strengthen his hand prior to the elections.@@@@1@40@@oe@2-2-2013
20655027@unknown@formal@none@1@S@Mr. Abrams said that Mr. Ortega is seeking to demobilize the Contras prior to the elections to remove any pressure to hold fair elections.@@@@1@24@@oe@2-2-2013
20655028@unknown@formal@none@1@S@"My sense is what they have in mind is an excuse for clamping down on campaigning" by creating an atmosphere of a military emergency, he said.@@@@1@26@@oe@2-2-2013
20656001@unknown@formal@none@1@S@Milton Petrie, chairman of Petrie Stores Corp., said he has agreed to sell his 15.2% stake in Deb Shops Corp. to Petrie Stores.@@@@1@23@@oe@2-2-2013
20656002@unknown@formal@none@1@S@In a Securities and Exchange Commission filing, Mr. Petrie said that on Oct. 26 Petrie Stores agreed to purchase Mr. Petrie's 2,331,100 Deb Shops shares.@@@@1@25@@oe@2-2-2013
20656003@unknown@formal@none@1@S@The transaction will take place tomorrow.@@@@1@6@@oe@2-2-2013
20656004@unknown@formal@none@1@S@The filing said Petrie Stores of Secaucus, N.J., is purchasing Mr. Petrie's Deb Shops stake as an investment.@@@@1@18@@oe@2-2-2013
20656005@unknown@formal@none@1@S@Although Petrie Stores has considered seeking to acquire the remaining equity of Deb Stores, it has no current intention to pursue such a possibility, the filing said.@@@@1@27@@oe@2-2-2013
20656006@unknown@formal@none@1@S@Philadelphia-based Deb Shops said it saw little significance in Mr. Petrie selling his stock to Petrie Stores.@@@@1@17@@oe@2-2-2013
20656007@unknown@formal@none@1@S@"We didn't look at it and say, `Oh my God, something is going to happen,'" said Stanley Uhr, vice president and corporate counsel.@@@@1@23@@oe@2-2-2013
20656008@unknown@formal@none@1@S@Mr. Uhr said that Mr. Petrie or his company have been accumulating Deb Shops stock for several years, each time issuing a similar regulatory statement.@@@@1@25@@oe@2-2-2013
20656009@unknown@formal@none@1@S@He said no discussions currently are taking place between the two companies.@@@@1@12@@oe@2-2-2013
20657001@unknown@formal@none@1@S@Nikon Corp. said unconsolidated pretax profit increased 70% to 12.12 billion yen ($85.3 million) in the first half ended Sept. 30, from 7.12 billion yen a year ago.@@@@1@28@@oe@2-2-2013
20657002@unknown@formal@none@1@S@The Tokyo camera maker said net income more than doubled to 5.85 billion yen, or 16.08 a share, from 2.63 billion yen, or 7.24 yen a share.@@@@1@27@@oe@2-2-2013
20657003@unknown@formal@none@1@S@Nikon said sales rose despite the adverse effect of Japan's unpopular consumption tax, introduced in April.@@@@1@16@@oe@2-2-2013
20657004@unknown@formal@none@1@S@Increasing personal spending and capital investment are fueling growth, the company said.@@@@1@12@@oe@2-2-2013
20657005@unknown@formal@none@1@S@Rising export sales also contributed to strong growth, Nikon added.@@@@1@10@@oe@2-2-2013
20657006@unknown@formal@none@1@S@Total sales gained 20% to 122.36 billion yen from 102.01 billion yen.@@@@1@12@@oe@2-2-2013
20657007@unknown@formal@none@1@S@Exports made up 46.2% of the latest year's total, up from 39.8% a year ago.@@@@1@15@@oe@2-2-2013
20657008@unknown@formal@none@1@S@Camera sales showed the strongest gains, rising 37% to 50.59 billion yen.@@@@1@12@@oe@2-2-2013
20657009@unknown@formal@none@1@S@Nikon forecast sales for the year ending March 31 will rise 9.6% to 240 billion yen.@@@@1@16@@oe@2-2-2013
20657010@unknown@formal@none@1@S@Pretax profit is expected to increase 18% to 22 billion yen and net income is expected to rise 53% to 10.5 billion yen.@@@@1@23@@oe@2-2-2013
20658001@unknown@formal@none@1@S@Presidio Oil Co. said it signed a definitive agreement to acquire Gulf Canada Resources Ltd.'s U.S. unit for $163 million.@@@@1@20@@oe@2-2-2013
20658002@unknown@formal@none@1@S@Presidio, a Denver oil and gas concern, said it will acquire the properties and operations of Home Petroleum Corp., which includes two regional gas-gathering systems and proved reserves of about nine million barrels of oil and 72 billion cubic feet of natural gas.@@@@1@43@@oe@2-2-2013
20658003@unknown@formal@none@1@S@Presidio said the properties are generally situated in Wyoming, North Dakota, Texas, Oklahoma and Louisiana.@@@@1@15@@oe@2-2-2013
20658004@unknown@formal@none@1@S@Gulf Canada, Calgary, said the transaction is part of its plan to sell non-strategic assets and focus operations on Canada, Indonesia and other international areas.@@@@1@25@@oe@2-2-2013
20658005@unknown@formal@none@1@S@A spokesman for Gulf Canada, which is controlled by Toronto's Reichmann family, said the properties account for about 6% of the company's assets and produce about 5,000 barrels of oil and 35 million cubic feet of gas a day.@@@@1@39@@oe@2-2-2013
20658006@unknown@formal@none@1@S@He said Gulf Canada will likely report an extraordinary gain from the sale in the fourth quarter, but he wouldn't offer a specific estimate.@@@@1@24@@oe@2-2-2013
20658007@unknown@formal@none@1@S@The transaction is expected to close by Nov. 30.@@@@1@9@@oe@2-2-2013
20659001@unknown@formal@none@1@S@NEC Corp., a Tokyo-based computer and electronics concern, said net income rose 18% to 29.66 billion yen ($208.7 million) in the fiscal first half, ended Sept. 30, from 25.12 billion yen a year earlier.@@@@1@34@@oe@2-2-2013
20659002@unknown@formal@none@1@S@Sales rose 7.4% to 1.255 trillion yen from 1.168 trillion yen.@@@@1@11@@oe@2-2-2013
20659003@unknown@formal@none@1@S@NEC said first-half computer sales totaled 555.5 billion yen, up 11% from 500.26 billion yen a year earlier.@@@@1@18@@oe@2-2-2013
20659004@unknown@formal@none@1@S@Sales of electrical devices rose 13% to 283.8 billion yen from 251.8 billion yen.@@@@1@14@@oe@2-2-2013
20659005@unknown@formal@none@1@S@It said sales of home electronic products advanced 3.7% to 44.92 billion yen from 43.34 billion yen.@@@@1@17@@oe@2-2-2013
20659006@unknown@formal@none@1@S@In the period just ended, computers accounted for 44% of total sales, NEC said, and electrical devices made up 23%.@@@@1@20@@oe@2-2-2013
20659007@unknown@formal@none@1@S@NEC forecast sales for the year ending next March 31 of 2.74 trillion yen, an increase of 27% from the previous fiscal year.@@@@1@23@@oe@2-2-2013
20659008@unknown@formal@none@1@S@It said net income will rise 25% to 69 billion yen.@@@@1@11@@oe@2-2-2013
20660001@unknown@formal@none@1@S@Montedison S.p.A. definitively agreed to buy all of the publicly held shares of Erbamont N.V. for $37 each.@@@@1@18@@oe@2-2-2013
20660002@unknown@formal@none@1@S@Montedison now owns about 72% of Erbamont's shares outstanding.@@@@1@9@@oe@2-2-2013
20660003@unknown@formal@none@1@S@The companies said the accord was unanimously approved by a special committee of Erbamont directors unaffiliated with Montedison.@@@@1@18@@oe@2-2-2013
20660004@unknown@formal@none@1@S@Under the pact, Montedision will make a $37-a-share tender offer for Erbamont stock outstanding.@@@@1@14@@oe@2-2-2013
20660005@unknown@formal@none@1@S@The tender offer will be followed by the sale of all of Erbamont's assets, subject to all of its liabilities, to Montedison.@@@@1@22@@oe@2-2-2013
20660006@unknown@formal@none@1@S@Erbamont will then be liquidated, with any remaining Erbamont holders receiving a distribution of $37 a share.@@@@1@17@@oe@2-2-2013
20660007@unknown@formal@none@1@S@The companies said the transaction is being structured this way because the laws of the Netherlands Antilles, under which Erbamont is organized, don't provide for merger transactions.@@@@1@27@@oe@2-2-2013
20661001@unknown@formal@none@1@S@A unit of DPC Acquisition Partners launched a $10-a-share tender offer for the shares outstanding of Dataproducts Corp., and said it would seek to liquidate the computer-printer maker "as soon as possible," even if a merger isn't consummated.@@@@1@38@@oe@2-2-2013
20661002@unknown@formal@none@1@S@DPC Acquisition is controlled by Crescott Investment Associates, Wilson Investment Group, Kernel Corp. and Catalyst Partners.@@@@1@16@@oe@2-2-2013
20661003@unknown@formal@none@1@S@The investor group owns 1,534,600 Dataproducts common shares, or a 7.6% stake.@@@@1@12@@oe@2-2-2013
20661004@unknown@formal@none@1@S@The offer is based on several conditions, including obtaining financing.@@@@1@10@@oe@2-2-2013
20661005@unknown@formal@none@1@S@DPC Acquisition said it had received the reasonable assurance of Chase Manhattan Bank N.A. that the financing can be obtained.@@@@1@20@@oe@2-2-2013
20661006@unknown@formal@none@1@S@In a filing with the Securities and Exchange Commission, DPC Acquisition said it expects it will need about $215 million to buy the shares and pay related fees and expenses.@@@@1@30@@oe@2-2-2013
20661007@unknown@formal@none@1@S@DPC Acquisition added that it has not begun discussions with financing sources, and said it expected to repay the amounts borrowed through proceeds of the liquidation.@@@@1@26@@oe@2-2-2013
20661008@unknown@formal@none@1@S@Dataproducts officials declined to comment, and said they had not yet seen a suit filed in federal court by DPC Acquisition that seeks to nullify a standstill agreement between DPC Acquisition and Dataproducts.@@@@1@33@@oe@2-2-2013
20661009@unknown@formal@none@1@S@Earlier this year, DPC Acquisition made a $15-a-share offer for Dataproducts, which the Dataproducts board said it rejected because the $283.7 million offer was not fully financed.@@@@1@27@@oe@2-2-2013
20661010@unknown@formal@none@1@S@Dataproducts has since started a restructuring, and has said it is not for sale.@@@@1@14@@oe@2-2-2013
20662001@unknown@formal@none@1@S@Jayark Corp. agreed to pay $4 million in cash, $2 million of 12% convertible debentures, and 1.6 million common shares to acquire closely held Kofcoh Imports Inc.@@@@1@27@@oe@2-2-2013
20662002@unknown@formal@none@1@S@In over-the-counter trading Friday, Jayark was quoted at 87.5 cents bid, down 15.625 cents.@@@@1@14@@oe@2-2-2013
20662003@unknown@formal@none@1@S@At the market price, the transaction has a total indicated value of $7.4 million.@@@@1@14@@oe@2-2-2013
20662004@unknown@formal@none@1@S@Kofcoh is a New York holding company for Rosalco Inc., which imports furniture and other items.@@@@1@16@@oe@2-2-2013
20662005@unknown@formal@none@1@S@David L. Koffman, president and chief executive officer of Jayark, holds about 40% of Kofcoh, Jayark said.@@@@1@17@@oe@2-2-2013
20662006@unknown@formal@none@1@S@Jayark, New York, distributes and rents audio-visual equipment and prints promotional ads for retailers.@@@@1@14@@oe@2-2-2013
20662007@unknown@formal@none@1@S@In the quarter ended July 31, Jayark had an average of 5.6 million shares outstanding.@@@@1@15@@oe@2-2-2013
20662008@unknown@formal@none@1@S@The transaction is subject to approval by a panel of disinterested directors, the company said, adding that shareholder approval isn't needed.@@@@1@21@@oe@2-2-2013
20663001@unknown@formal@none@1@S@Ajinomoto Co., a Tokyo-based food-processing concern, said net income in its first half rose 8.9% to 8.2 billion yen ($57.7 million) from 7.54 billion yen a year earlier.@@@@1@28@@oe@2-2-2013
20663002@unknown@formal@none@1@S@Sales in the six months ended Sept. 30 were up 4.5% to 229.03 billion yen from 219.27 billion yen.@@@@1@19@@oe@2-2-2013
20663003@unknown@formal@none@1@S@Sales were higher in all of the company's business categories, with the biggest growth coming in sales of foodstuffs such as margarine, coffee and frozen food, which rose 6.3%.@@@@1@29@@oe@2-2-2013
20663004@unknown@formal@none@1@S@Oils and fats also did well, posting a 5.3% sales increase.@@@@1@11@@oe@2-2-2013
20663005@unknown@formal@none@1@S@Sales in the category that includes pharmaceuticals, amino acids and chemicals rose 4.7%.@@@@1@13@@oe@2-2-2013
20663006@unknown@formal@none@1@S@Ajinomoto predicted sales in the current fiscal year ending next March 31 of 480 billion yen, compared with 460.05 billion yen in fiscal 1989.@@@@1@24@@oe@2-2-2013
20663007@unknown@formal@none@1@S@It said it expects full-year net of 16 billion yen, compared with 15 billion yen in the latest year.@@@@1@19@@oe@2-2-2013
20664001@unknown@formal@none@1@S@The New York Mercantile Exchange, the world's chief oil futures marketplace, is at a critical juncture.@@@@1@16@@oe@2-2-2013
20664002@unknown@formal@none@1@S@Several longtime observers of the commodities industry think the fortunes of the Merc over the next decade will be determined to a large extent by how well its new natural gas futures contract does and how successful its new president is in raising the level of compliance by floor traders with exchange and Commodity Futures Trading Commission rules.@@@@1@58@@oe@2-2-2013
20664003@unknown@formal@none@1@S@If the exchange falters in these moves, they say, it might once again fall behind its chief New York competitor, the Commodity Exchange.@@@@1@23@@oe@2-2-2013
20664004@unknown@formal@none@1@S@On Friday, the Merc's board announced that it had approved Sabine Pipe Line Co.'s Henry Hub in Erath, La., as the delivery site for its long-awaited natural gas futures contract.@@@@1@30@@oe@2-2-2013
20664005@unknown@formal@none@1@S@It also said that it would start trading the contract as soon as the CFTC approved it.@@@@1@17@@oe@2-2-2013
20664006@unknown@formal@none@1@S@The CFTC has 90 days to respond to such applications.@@@@1@10@@oe@2-2-2013
20664007@unknown@formal@none@1@S@The Merc first started working on developing this contract in 1984.@@@@1@11@@oe@2-2-2013
20664008@unknown@formal@none@1@S@Only three weeks earlier, the Merc had turned to one of its own executives, 40-year-old R. Patrick Thompson, to replace Rosemary T. McFadden as president.@@@@1@25@@oe@2-2-2013
20664009@unknown@formal@none@1@S@Mr. Thompson is believed to have a mandate from the board of directors to help improve the Merc's tarnished reputation as an exchange whose floor traders don't follow the rules very well.@@@@1@32@@oe@2-2-2013
20664010@unknown@formal@none@1@S@Ms. McFadden had been forced out in July in a bitter power struggle with Z. Lou Guttman, chairman and a longtime floor trader on the exchange.@@@@1@26@@oe@2-2-2013
20664011@unknown@formal@none@1@S@Mr. Guttman told one person familiar with the New York exchanges during the search for a replacement that he was looking for a president who would be "responsive to the needs of the membership and the board."@@@@1@37@@oe@2-2-2013
20664012@unknown@formal@none@1@S@Mr. Thompson first came to the exchange in 1981 and has been executive vice president since March 1988.@@@@1@18@@oe@2-2-2013
20664013@unknown@formal@none@1@S@He previously held posts of senior vice president of compliance and senior vice president and general counsel.@@@@1@17@@oe@2-2-2013
20664014@unknown@formal@none@1@S@By contrast, the Comex in July imported a highly regarded outsider, Arnold F. Staloff, as its president.@@@@1@17@@oe@2-2-2013
20664015@unknown@formal@none@1@S@Mr. Staloff, 44, was a senior officer of the Philadelphia Stock Exchange and is considered a specialist in new financial products.@@@@1@21@@oe@2-2-2013
20664016@unknown@formal@none@1@S@Mr. Thompson isn't bereft of experience with new products, however.@@@@1@10@@oe@2-2-2013
20664017@unknown@formal@none@1@S@For the past two years, he said, he and the exchange's research department have been working on the new natural gas contract, seeking a good delivery site and studying the natural gas market.@@@@1@33@@oe@2-2-2013
20664018@unknown@formal@none@1@S@"Our members are eager to begin trading this contract, so we expect no difficulty in attracting locals to the natural gas pit," he said.@@@@1@24@@oe@2-2-2013
20664019@unknown@formal@none@1@S@The educational effort of teaching companies in the natural gas industry how to use the futures to hedge would have to continue for another a year or two, he added.@@@@1@30@@oe@2-2-2013
20664020@unknown@formal@none@1@S@The Merc's extremely successful contracts in crude oil, gasoline and heating oil have made it the largest futures exchange in New York, and third behind the Chicago Board of Trade and Chicago Mercantile Exchange.@@@@1@34@@oe@2-2-2013
20664021@unknown@formal@none@1@S@In a recent interview, Mr. Thompson said the biggest problem facing all commodity exchanges was one of image.@@@@1@18@@oe@2-2-2013
20664022@unknown@formal@none@1@S@Earlier this year, the U.S. attorney indicted 45 floor traders and one clerk at the two big Chicago exchanges.@@@@1@19@@oe@2-2-2013
20664023@unknown@formal@none@1@S@Federal authorities in New York started investigating exchanges in May, though no indictments have been handed down there.@@@@1@18@@oe@2-2-2013
20664024@unknown@formal@none@1@S@So far they have issued scores of subpoenas, some of which went to members of the New York Merc.@@@@1@19@@oe@2-2-2013
20664025@unknown@formal@none@1@S@Mr. Thompson will have to face some of the consequences of those subpoenas.@@@@1@13@@oe@2-2-2013
20664026@unknown@formal@none@1@S@In a recent General Accounting Office study, the Merc was found to have been the most lax in enforcing exchange rules.@@@@1@21@@oe@2-2-2013
20664027@unknown@formal@none@1@S@It levied the smallest number of suspensions of traders and fines of the four largest commodity exchanges studied over the past five years.@@@@1@23@@oe@2-2-2013
20664028@unknown@formal@none@1@S@It also had both the fewest, and least experienced, investigators per million contracts traded.@@@@1@14@@oe@2-2-2013
20664029@unknown@formal@none@1@S@The Merc received considerable criticism in 1987 when it was discovered that its compliance director, Kevin P. Conway, who then was responsible for policing the exchange's busy oil and metal pits, "was engaged in other personal business activities on Exchange time," including out-of-state trips, according to a New York Merc report prepared last year.@@@@1@54@@oe@2-2-2013
20664030@unknown@formal@none@1@S@Mr. Conway is no longer at the exchange.@@@@1@8@@oe@2-2-2013
20664031@unknown@formal@none@1@S@"We had a management breakdown in 1987 in terms of compliance," Mr. Thompson says.@@@@1@14@@oe@2-2-2013
20664032@unknown@formal@none@1@S@"We recognized the problem and took care of it."@@@@1@9@@oe@2-2-2013
20664033@unknown@formal@none@1@S@He says that even if the natural gas contract boosts volume at the exchange strongly, the 1990 business plan calls for having adequate compliance people to ensure that exchange rules are being followed.@@@@1@33@@oe@2-2-2013
20664034@unknown@formal@none@1@S@For years the five New York exchanges have been talking about cooperating in various aspects of their business in order to improve the efficiency of their operations.@@@@1@27@@oe@2-2-2013
20664035@unknown@formal@none@1@S@Periodically, there has even been talk of mergers between one or more exchanges.@@@@1@13@@oe@2-2-2013
20664036@unknown@formal@none@1@S@So far there is little to show for such efforts.@@@@1@10@@oe@2-2-2013
20664037@unknown@formal@none@1@S@Mr. Thompson believes the case for working together is stronger now than ever.@@@@1@13@@oe@2-2-2013
20664038@unknown@formal@none@1@S@"The cost of competition has become extremely high," he says.@@@@1@10@@oe@2-2-2013
20664039@unknown@formal@none@1@S@"We must find ways to save money for the futures commission merchants who do business on our exchanges."@@@@1@18@@oe@2-2-2013
20664040@unknown@formal@none@1@S@He thinks that progress in cooperation can be made in areas where no vested interests have built up.@@@@1@18@@oe@2-2-2013
20664041@unknown@formal@none@1@S@One of those areas is the development of a hand-held electronic device that would permit floor traders to enter trades as they make them.@@@@1@24@@oe@2-2-2013
20664042@unknown@formal@none@1@S@The GAO has recommended the creation of a system to record trade data so that an independent, verifiable audit trail can be established to prevent customer fraud.@@@@1@27@@oe@2-2-2013
20664043@unknown@formal@none@1@S@The Merc is now cooperating with the Comex in developing such a device to provide such an audit trail.@@@@1@19@@oe@2-2-2013
20664044@unknown@formal@none@1@S@The Chicago exchanges also are working on such a device.@@@@1@10@@oe@2-2-2013
20664045@unknown@formal@none@1@S@Another major electronics problem faces Mr. Thompson -- the creation of a 24-hour trading system that can be used outside normal trading hours.@@@@1@23@@oe@2-2-2013
20664046@unknown@formal@none@1@S@In January, the New York Merc signed a letter of intent with the Chicago Merc as a preliminary step to joining their electronic system called Globex.@@@@1@26@@oe@2-2-2013
20664047@unknown@formal@none@1@S@But in May, the Chicago Merc said it was looking into creating a common system with the Chicago Board of Trade, and it suspended negotiations with the New York Merc.@@@@1@30@@oe@2-2-2013
20664048@unknown@formal@none@1@S@Mr. Thompson says his exchange isn't waiting for the results of the Chicago exchanges' cooperation.@@@@1@15@@oe@2-2-2013
20664049@unknown@formal@none@1@S@It recently began a pilot program to test an electronic trading system called ATS/2, the automated trading system created by the International Commodities Clearing House.@@@@1@25@@oe@2-2-2013
20664050@unknown@formal@none@1@S@Looking ahead to commodity markets this week:@@@@1@7@@oe@2-2-2013
20664051@unknown@formal@none@1@S@Copper@@@@1@1@@oe@2-2-2013
20664052@unknown@formal@none@1@S@Michael Frawley, metals trader for PaineWebber Inc. in New York, said there is good technical support between $1.10 and $1.12 a pound for December copper, which ended Friday at $1.1580 a pound, up 1.6 cents.@@@@1@35@@oe@2-2-2013
20664053@unknown@formal@none@1@S@He views the $1.10 to $1.12 range as a buying opportunity and considers the market oversold.@@@@1@16@@oe@2-2-2013
20664054@unknown@formal@none@1@S@"I think the market could pop up to the $1.22 to $1.25 level without too much difficulty," he said.@@@@1@19@@oe@2-2-2013
20664055@unknown@formal@none@1@S@But he said it won't climb further and he expects it to remain in a trading range between $1.10 and $1.25.@@@@1@21@@oe@2-2-2013
20664056@unknown@formal@none@1@S@He noted that the equity markets will set the tone for the industrial metals this week and traders should keep an eye on Wall Street.@@@@1@25@@oe@2-2-2013
20664057@unknown@formal@none@1@S@William O'Neill, research director for Elders Futures Inc. in New York, said for a rally to occur, there must be demand from the Far East.@@@@1@25@@oe@2-2-2013
20664058@unknown@formal@none@1@S@He added that talk of strike settlements at producing mines has been fully discounted.@@@@1@14@@oe@2-2-2013
20664059@unknown@formal@none@1@S@However, to resume the bull trend, according to Mr. O'Neill, copper would have to close over $1.19.@@@@1@17@@oe@2-2-2013
20664060@unknown@formal@none@1@S@He said there are two reports this week that might affect prices: the purchasing managers report on Wednesday and the unemployment report on Friday.@@@@1@24@@oe@2-2-2013
20664061@unknown@formal@none@1@S@Precious Metals@@@@1@2@@oe@2-2-2013
20664062@unknown@formal@none@1@S@Friday's strong price gains confirmed a turnaround in the precious metals markets, according to PaineWebber's Mr. Frawley.@@@@1@17@@oe@2-2-2013
20664063@unknown@formal@none@1@S@"Most traders will be looking to buy {on} pullbacks," he said.@@@@1@11@@oe@2-2-2013
20664064@unknown@formal@none@1@S@He thought the moves in the metals last week were most influenced by the uncertainty in the equity and other financial markets.@@@@1@22@@oe@2-2-2013
20664065@unknown@formal@none@1@S@According to Mr. Frawley, floor traders say there is good support for December gold in the $374 to $375 per ounce area, around $5.20 an ounce for December silver and in the $485 to $490 an ounce range for January platinum.@@@@1@41@@oe@2-2-2013
20664066@unknown@formal@none@1@S@William O'Neill, research director for Elders Futures Inc. in New York, said the price action for all of last week is the best he has seen on a weekly basis in more than a year.@@@@1@35@@oe@2-2-2013
20664067@unknown@formal@none@1@S@He said last week's activity in gold could portend a move to $390 an ounce for the December contract.@@@@1@19@@oe@2-2-2013
20664068@unknown@formal@none@1@S@He also said traders should keep an eye on the stock market, because "if the stock market rallies, that could spell trouble for the precious metals."@@@@1@26@@oe@2-2-2013
20664069@unknown@formal@none@1@S@He said traders should be on the lookout for how metals producers react to this rally.@@@@1@16@@oe@2-2-2013
20664070@unknown@formal@none@1@S@"I expect to see some selling, but will they kill this one as they have every rally in the recent past" by selling and locking in prices for their production?@@@@1@30@@oe@2-2-2013
20664071@unknown@formal@none@1@S@He noted that for the first time in months there was some light investor interest in the metals.@@@@1@18@@oe@2-2-2013
20664072@unknown@formal@none@1@S@Grains And Soybeans@@@@1@3@@oe@2-2-2013
20664073@unknown@formal@none@1@S@Prices this week will likely be dominated by reports on the progress of the corn and soybean harvest as well as by speculation about more purchases of U.S. crops by the Soviet Union.@@@@1@33@@oe@2-2-2013
20664074@unknown@formal@none@1@S@In recent weeks, warm and dry weather has sped the Midwest harvest and that is permitting farmers to rebuild the stockpiles that were cut by the 1988 drought.@@@@1@28@@oe@2-2-2013
20664075@unknown@formal@none@1@S@If the weather allowed farmers to work in their fields over the weekend, many Midwest grain elevators will probably sell futures contracts today at the Chicago Board of Trade in order to hedge their weekend purchases from farmers.@@@@1@38@@oe@2-2-2013
20664076@unknown@formal@none@1@S@That selling of futures contracts by elevators is what helps keep downward pressure on crop prices during the harvest.@@@@1@19@@oe@2-2-2013
20664077@unknown@formal@none@1@S@Traders will also watch for whether the Soviet Union continues its traditional fall buying of U.S. grain.@@@@1@17@@oe@2-2-2013
20664078@unknown@formal@none@1@S@So far this month, the Soviets have bought about 7.2 million metric tons of U.S. corn.@@@@1@16@@oe@2-2-2013
20664079@unknown@formal@none@1@S@There may be some activity in soybean prices this week as investors try to get rid of the contract for November delivery.@@@@1@22@@oe@2-2-2013
20664080@unknown@formal@none@1@S@Investors usually don't want to take physical delivery of a contract, preferring instead to profit from its price swings and then end any obligation to take delivery or make delivery as it nears expiration.@@@@1@34@@oe@2-2-2013
20665001@unknown@formal@none@1@S@Employees of the Globe and Mail, a Thomson Corp. newspaper in Toronto, voted to accept a tentative contract agreement Saturday, averting a strike at Canada's leading daily.@@@@1@27@@oe@2-2-2013
20665002@unknown@formal@none@1@S@Under the terms of the three-year contract, similar to one reached at Torstar Corp.'s Toronto Star newspaper earlier this month, the 500 Globe and Mail workers will see a raise of 8% in the contract's first year and 7% in each of the following two years.@@@@1@46@@oe@2-2-2013
20665003@unknown@formal@none@1@S@Lorne Slotnick, vice chairman of the Southern Ontario Newspaper Guild, the union representing the workers, said Thomson made significant concessions in the final round of talks.@@@@1@26@@oe@2-2-2013
20665004@unknown@formal@none@1@S@In addition to wage increases, the union negotiated improved vacation plans, benefit packages and pension plans, Mr. Slotnick said.@@@@1@19@@oe@2-2-2013
20665005@unknown@formal@none@1@S@He said more than 70% of the bargaining unit voted in favor of the agreement.@@@@1@15@@oe@2-2-2013
20666001@unknown@formal@none@1@S@Wall Street is just about ready to line the bird cage with paper stocks.@@@@1@14@@oe@2-2-2013
20666002@unknown@formal@none@1@S@For three years, a healthy economy and the export-boosting effects of a weak dollar propelled sales and earnings of the big paper companies to record levels.@@@@1@26@@oe@2-2-2013
20666003@unknown@formal@none@1@S@As the good times rolled they more than doubled their prices for pulp, a raw material used in all sorts of paper, to $830 a metric ton this past spring from $380 a ton at the start of 1986.@@@@1@39@@oe@2-2-2013
20666004@unknown@formal@none@1@S@But now the companies are getting into trouble because they undertook a record expansion program while they were raising prices sharply.@@@@1@21@@oe@2-2-2013
20666005@unknown@formal@none@1@S@Third-quarter profits fell at several companies.@@@@1@6@@oe@2-2-2013
20666006@unknown@formal@none@1@S@"Put your money in a good utility or bank stock, not a paper company," advises George Adler of Smith Barney.@@@@1@20@@oe@2-2-2013
20666007@unknown@formal@none@1@S@Other analysts are nearly as pessimistic.@@@@1@6@@oe@2-2-2013
20666008@unknown@formal@none@1@S@Gary Palmero of Oppenheimer & Co. expects a 30% decline in earnings between now and 1991 for "commodity-oriented" paper companies, which account for the majority of the industry.@@@@1@28@@oe@2-2-2013
20666009@unknown@formal@none@1@S@Robert Schneider of Duff & Phelps sees paper-company stock prices falling 10% to 15% in 1990, perhaps 25% if there's a recession.@@@@1@22@@oe@2-2-2013
20666010@unknown@formal@none@1@S@Paper companies concede that business has been off recently.@@@@1@9@@oe@2-2-2013
20666011@unknown@formal@none@1@S@But they attribute much of the weakness to customer inventory reductions.@@@@1@11@@oe@2-2-2013
20666012@unknown@formal@none@1@S@Generally they maintain that, barring a recession and a further strengthening of the dollar against foreign currencies, the industry isn't headed for a prolonged slump.@@@@1@25@@oe@2-2-2013
20666013@unknown@formal@none@1@S@"It won't be an earthshaking drop," a Weyerhaeuser spokesman says.@@@@1@10@@oe@2-2-2013
20666014@unknown@formal@none@1@S@Last week Mr. Adler lowered his rating from hold to "avoid" on Boise Cascade, Champion International, Great Northern Nekoosa, International Paper, Louisiana Pacific and Weyerhaeuser.@@@@1@25@@oe@2-2-2013
20666015@unknown@formal@none@1@S@Oppenheimer's Mr. Palmero, meanwhile, is steering clear of Gaylord Container, Stone Container and Federal Paper Board.@@@@1@16@@oe@2-2-2013
20666016@unknown@formal@none@1@S@Mr. Schneider is cool to Georgia Pacific and Abitibi-Price.@@@@1@9@@oe@2-2-2013
20666017@unknown@formal@none@1@S@Lawrence Ross of PaineWebber would avoid Union Camp.@@@@1@8@@oe@2-2-2013
20666018@unknown@formal@none@1@S@The companies in question believe the analysts are too pessimistic.@@@@1@10@@oe@2-2-2013
20666019@unknown@formal@none@1@S@Great Northern Nekoosa said, "The odds of the dire predictions about us being right are small."@@@@1@16@@oe@2-2-2013
20666020@unknown@formal@none@1@S@International Paper emphasizes that it is better positioned than most companies for the coming overcapacity because its individual mills can make more than one grade of paper.@@@@1@27@@oe@2-2-2013
20666021@unknown@formal@none@1@S@A Boise-Cascade spokesman referred to a speech by Chairman John Fery, in which he said that markets generally are stable, although some risk of further price deterioration exists.@@@@1@28@@oe@2-2-2013
20666022@unknown@formal@none@1@S@Stone Container Chairman Roger Stone said that, unlike for some other paper products, demand for Stone's principal commodity, unbleached containerboard, remains strong.@@@@1@22@@oe@2-2-2013
20666023@unknown@formal@none@1@S@He expects the price for that product to rise even more next year.@@@@1@13@@oe@2-2-2013
20666024@unknown@formal@none@1@S@Gaylord Container said analysts are skeptical of it because it's carrying a lot of debt.@@@@1@15@@oe@2-2-2013
20666025@unknown@formal@none@1@S@Champion International said, "We've gotten our costs down and we're better positioned for any cyclical downturn than we've ever been."@@@@1@20@@oe@2-2-2013
20666026@unknown@formal@none@1@S@Louisiana Pacific and Georgia Pacific said a number of other analysts are recommending them because of their strong wood-products business.@@@@1@20@@oe@2-2-2013
20666027@unknown@formal@none@1@S@Federal Paper Board said, "We're not as exposed as the popular perception of us."@@@@1@14@@oe@2-2-2013
20666028@unknown@formal@none@1@S@The company explained that its main product, bleached paperboard, which goes into some advertising materials and white boxes, historically doesn't have sharp price swings.@@@@1@24@@oe@2-2-2013
20666029@unknown@formal@none@1@S@Because the stock prices of some paper companies already reflect an expected profit slump, PaineWebber's Mr. Ross says he thinks that next year the share prices of some companies may fall at most only 5% to 10%.@@@@1@37@@oe@2-2-2013
20666030@unknown@formal@none@1@S@A company such as Federal Paper Board may be overly discounted and looks "tempting" to him, he says, though he isn't yet recommending the shares.@@@@1@25@@oe@2-2-2013
20666031@unknown@formal@none@1@S@Wall Street isn't avoiding everything connected with paper.@@@@1@8@@oe@2-2-2013
20666032@unknown@formal@none@1@S@Mr. Palmero recommends Temple-Inland, explaining that it is "virtually the sole major paper company not undergoing a major capacity expansion," and thus should be able to lower long-term debt substantially next year.@@@@1@32@@oe@2-2-2013
20666033@unknown@formal@none@1@S@A Temple-Inland spokesman said the company expects record earnings in 1989, and "we're still pretty bullish" on 1990.@@@@1@18@@oe@2-2-2013
20666034@unknown@formal@none@1@S@The analysts say their gloomy forecasts have a flip side.@@@@1@10@@oe@2-2-2013
20666035@unknown@formal@none@1@S@Some take a warm view of consumer-oriented paper companies, which buy pulp from the commodity producers and should benefit from the expected declines in pulp prices.@@@@1@26@@oe@2-2-2013
20666036@unknown@formal@none@1@S@Estimates on how much pulp prices will fall next year currently run between $150 and $250 a metric ton.@@@@1@19@@oe@2-2-2013
20666037@unknown@formal@none@1@S@Analysts agree that the price drop should especially benefit the two big tissue makers, Scott Paper and Kimberly-Clark.@@@@1@18@@oe@2-2-2013
20666038@unknown@formal@none@1@S@A spokesman for Scott says that assuming the price of pulp continues to soften, "We should do well.@@@@1@18@@oe@2-2-2013
20667001@unknown@formal@none@1@S@Shoney's Inc. said it will report a write-off of $2.5 million, or seven cents a share, for its fourth quarter ended yesterday.@@@@1@22@@oe@2-2-2013
20667002@unknown@formal@none@1@S@The restaurant operator cited transaction costs from its 1988 recapitalization as a result of a $160 million restructuring of its bank debt.@@@@1@22@@oe@2-2-2013
20667003@unknown@formal@none@1@S@The write-off will be reported as an extraordinary item in the company's 1989 operating results.@@@@1@15@@oe@2-2-2013
20667004@unknown@formal@none@1@S@In addition, the effective interest rate on the $410 million of total remaining bank debt after the restructuring is 10.66%.@@@@1@20@@oe@2-2-2013
20667005@unknown@formal@none@1@S@The combined effect of these changes is expected to save the company about $4 million in interest expenses next year, or six cents a share.@@@@1@25@@oe@2-2-2013
20667006@unknown@formal@none@1@S@Shoney's said the latest restructuring affected bank indebtedness that was incurred to finance $585 million of the company's $728 million recapitalization that took place in@@@@1@25@@oe@2-2-2013
20667007@unknown@formal@none@1@S@The company has made payments of $175 million against the original $585 million of bank debt incurred in connection with the recapitalization.@@@@1@22@@oe@2-2-2013
20667008@unknown@formal@none@1@S@These payments consisted of $54 million in scheduled payments and $121 million in prepayments, funded by $82.8 million from operating cash flow, zero-coupon subordinated debt and assets sales.@@@@1@28@@oe@2-2-2013
20668001@unknown@formal@none@1@S@ABB Asea Brown Boveri B.V. said it signed a contract for the largest-ever power plant order in the Netherlands.@@@@1@19@@oe@2-2-2013
20668002@unknown@formal@none@1@S@ABB said the contract, signed with the Dutch utility N.V. Energieproduktiebedrijf UNA, is valued in excess of $200 million.@@@@1@19@@oe@2-2-2013
20668003@unknown@formal@none@1@S@The accord is for a turbogenerator plant at the coal-fired power station Hemweg in Amsterdam.@@@@1@15@@oe@2-2-2013
20668004@unknown@formal@none@1@S@ABB Asea Brown Boveri is the Dutch unit of the Swedish-Swiss electrical engineering group ABB Asea Brown Boveri AG.@@@@1@19@@oe@2-2-2013
20668005@unknown@formal@none@1@S@ABB said a significant portion of the order will be placed with Dutch subcontractors, adding that a group has been set up for this purpose.@@@@1@25@@oe@2-2-2013
20668006@unknown@formal@none@1@S@The Dutch utility firm serves the Amsterdam and Utrecht areas.@@@@1@10@@oe@2-2-2013
20668007@unknown@formal@none@1@S@The planned turbogenerator plant is expected to go into operation in 1994.@@@@1@12@@oe@2-2-2013
20669001@unknown@formal@none@1@S@Nissan Motor Co. expects net income to reach 120 billion yen (U.S. $857 million) in its current fiscal year, up from 114.6 billion yen in the previous year, Yutaka Kume, president, said.@@@@1@32@@oe@2-2-2013
20669002@unknown@formal@none@1@S@Mr. Kume made the earnings projection for fiscal 1990, ending next March 31, in an interview with U.S. automotive writers attending the Tokyo Motor Show.@@@@1@25@@oe@2-2-2013
20669003@unknown@formal@none@1@S@The executive said that the anticipated earnings increase is fairly modest because Nissan is spending heavily to bolster its dealership network in Japan and because of currency-exchange fluctuations.@@@@1@28@@oe@2-2-2013
20669004@unknown@formal@none@1@S@During the next decade, Mr. Kume said, Nissan plans to boost overseas vehicle production sufficiently to account for a majority of sales outside Japan.@@@@1@24@@oe@2-2-2013
20669005@unknown@formal@none@1@S@Last year, Mr. Kume said, Nissan exported slightly over one million vehicles, and produced 570,000 cars and trucks at its factories in North America, Europe and Australia.@@@@1@27@@oe@2-2-2013
20669006@unknown@formal@none@1@S@But by 1992, he added, Nissan will build one million vehicles a year outside Japan, or sufficient to equal exports.@@@@1@20@@oe@2-2-2013
20669007@unknown@formal@none@1@S@"By the end of the 1990s," he said, "we want to be producing roughly two vehicles overseas for every vehicle that we export from Japan."@@@@1@25@@oe@2-2-2013
20669008@unknown@formal@none@1@S@That will involve a substantial increase in overseas manufacturing capacity, he acknowledged, but didn't provide specific details.@@@@1@17@@oe@2-2-2013
20670001@unknown@formal@none@1@S@National Intergroup Inc. said it expects to report a charge of $5.3 million related to the sale of its aluminum unit's extrusion division for the third quarter.@@@@1@27@@oe@2-2-2013
20670002@unknown@formal@none@1@S@The company said it has agreed to sell the extrusion division for $15 million to R.D. Werner Co., a closely held firm based in Greenville, Pa.@@@@1@26@@oe@2-2-2013
20670003@unknown@formal@none@1@S@The charge is offset by an after-tax gain of about $30 million in the quarter from the previously announced pact to sell National Aluminum's rolling division.@@@@1@26@@oe@2-2-2013
20670004@unknown@formal@none@1@S@National Intergroup in the year-ago third quarter earned $22.5 million, or 97 cents a share, including a gain of $18 million from the sale of a steel tube company.@@@@1@29@@oe@2-2-2013
20670005@unknown@formal@none@1@S@Revenue was $778.6 million.@@@@1@4@@oe@2-2-2013
20670006@unknown@formal@none@1@S@The company also said it continues to explore all options concerning the possible sale of National Aluminum's 54.5% stake in an aluminum smelter in Hawesville, Ky.@@@@1@26@@oe@2-2-2013
20670007@unknown@formal@none@1@S@The sale of the extrusion division is subject to audit adjustments for working capital changes through the closing.@@@@1@18@@oe@2-2-2013
20670008@unknown@formal@none@1@S@The agreement also provides for potential payments of additional proceeds to National Aluminum over the next two years, depending on the plant's shipping levels.@@@@1@24@@oe@2-2-2013
20670009@unknown@formal@none@1@S@The extrusion unit produces bare and painted custom extrusions for building products and construction industries.@@@@1@15@@oe@2-2-2013
20670010@unknown@formal@none@1@S@In fiscal 1989, it had sales of about $40 million and an operating loss of $1.5 million.@@@@1@17@@oe@2-2-2013
20671001@unknown@formal@none@1@S@The municipal bond market is bracing for tough times through the end of the year as it struggles to absorb an oversupply of bonds and two of its best customers turn into sellers.@@@@1@33@@oe@2-2-2013
20671002@unknown@formal@none@1@S@Commercial banks and property/casualty insurers, which together own about 36% of all municipal bonds, have been dumping their securities for weeks.@@@@1@21@@oe@2-2-2013
20671003@unknown@formal@none@1@S@Last week, traders said, there were three institutional sellers for every buyer.@@@@1@12@@oe@2-2-2013
20671004@unknown@formal@none@1@S@"Every day we're getting new bid lists" from would-be sellers, one trader said.@@@@1@13@@oe@2-2-2013
20671005@unknown@formal@none@1@S@"Most dealers cannot continue to absorb this supply."@@@@1@8@@oe@2-2-2013
20671006@unknown@formal@none@1@S@As a result, yields on long-term muni bonds now stand at about 95% of long-term Treasury yields, the highest such level in more than two years.@@@@1@26@@oe@2-2-2013
20671007@unknown@formal@none@1@S@"There is incredible negative psychology building in the market," said Donna Avedisian, a vice president at Merrill Lynch & Co.@@@@1@20@@oe@2-2-2013
20671008@unknown@formal@none@1@S@"People are very concerned about who is going to step up to the plate and buy municipal bonds in the absence of institutional buyers."@@@@1@24@@oe@2-2-2013
20671009@unknown@formal@none@1@S@The yield on a group of 25 revenue bonds compiled by the Bond Buyer, a trade publication, now exceeds 7.50%.@@@@1@20@@oe@2-2-2013
20671010@unknown@formal@none@1@S@At this week's New York City bond sale, traders expect yields on the 20-year New York bonds to nearly match the 7.9% yield on 30-year Treasury bonds.@@@@1@27@@oe@2-2-2013
20671011@unknown@formal@none@1@S@For an investor in the 28% federal tax bracket, 7.9% tax-free is the same as 10.38% on a taxable investment.@@@@1@20@@oe@2-2-2013
20671012@unknown@formal@none@1@S@That's a taxable-equivalent yield nearly three percentage points more than the current yield on 30-year Treasury bonds.@@@@1@17@@oe@2-2-2013
20671013@unknown@formal@none@1@S@How quickly things change.@@@@1@4@@oe@2-2-2013
20671014@unknown@formal@none@1@S@This past summer, investors' appetite for municipal bonds seemed insatiable.@@@@1@10@@oe@2-2-2013
20671015@unknown@formal@none@1@S@Individuals eager for tax-free income drove up bond prices, making state and local government debt one of the best-performing types of fixed-income investments during the period.@@@@1@26@@oe@2-2-2013
20671016@unknown@formal@none@1@S@But while analysts say that municipal bonds still offer good value, you wouldn't know it by the way institutional investors are rushing to dump their holdings.@@@@1@26@@oe@2-2-2013
20671017@unknown@formal@none@1@S@Bond market analysts say the institutional selling was triggered by several factors.@@@@1@12@@oe@2-2-2013
20671018@unknown@formal@none@1@S@Big banks such as Chemical Bank and Chase Manhattan, which have been taking heavy charges to expand their Third World loan-loss reserves, aren't looking for tax-exempt income.@@@@1@27@@oe@2-2-2013
20671019@unknown@formal@none@1@S@"We don't need the shelter of tax-free bonds," said a spokeswoman at Chemical.@@@@1@13@@oe@2-2-2013
20671020@unknown@formal@none@1@S@In recent weeks, traders said, Chemical has sold more than $1 billion of tax-free bonds.@@@@1@15@@oe@2-2-2013
20671021@unknown@formal@none@1@S@The spokeswoman confirmed that the bank has significantly reduced its muni holdings, but couldn't immediately confirm the amount.@@@@1@18@@oe@2-2-2013
20671022@unknown@formal@none@1@S@Insurance companies are rushing to sell before the end of the year, when some of their tax benefits associated with municipal bonds will be phased out.@@@@1@26@@oe@2-2-2013
20671023@unknown@formal@none@1@S@There is speculation that property/casualty firms will sell even more munis as they scramble to raise cash to pay claims related to Hurricane Hugo and the Northern California earthquake.@@@@1@29@@oe@2-2-2013
20671024@unknown@formal@none@1@S@Fundamental factors are at work as well.@@@@1@7@@oe@2-2-2013
20671025@unknown@formal@none@1@S@Muni bond holders are worried about the impact of a slowing economy on tax revenue, at a time when many state and local governments already face budget deficits and huge spending needs.@@@@1@32@@oe@2-2-2013
20671026@unknown@formal@none@1@S@The recent natural disasters, and the need of many other cities to rebuild crumbling infrastructure, suggests that supply of new issues will continue to rise sharply -- even as demand tapers off.@@@@1@32@@oe@2-2-2013
20671027@unknown@formal@none@1@S@"There is just so much going on that it's difficult to pick just one factor that's driving the market," said Ronald Ian Heller, vice president at First Chicago Capital Markets Inc., a subsidiary of First Chicago Corp.@@@@1@37@@oe@2-2-2013
20671028@unknown@formal@none@1@S@Some of the recent selling could actually be considered a positive sign.@@@@1@12@@oe@2-2-2013
20671029@unknown@formal@none@1@S@Mutual funds, for example, are said to be selling existing municipal bonds to raise cash to buy new issues.@@@@1@19@@oe@2-2-2013
20671030@unknown@formal@none@1@S@Because municipal bonds yields have risen at a time when interest rates generally have fallen, some portfolio managers are assuming that bonds bought now will appreciate in value as the municipal bond market rebounds.@@@@1@34@@oe@2-2-2013
20671031@unknown@formal@none@1@S@Ms. Avedisian believes that the mutual funds are selling muni bonds that have a negative convexity -- those that have appreciated in price slowly relative to the decline in interest rates.@@@@1@31@@oe@2-2-2013
20671032@unknown@formal@none@1@S@Such bonds, she says, are those that are nearing their call date.@@@@1@12@@oe@2-2-2013
20671033@unknown@formal@none@1@S@But traders said the market's tone could pick up this week if New York City's $787 million bond offering goes well.@@@@1@21@@oe@2-2-2013
20671034@unknown@formal@none@1@S@The offering will include $729 million of 20-year tax-exempt bonds and $57.8 million of taxable bonds.@@@@1@16@@oe@2-2-2013
20671035@unknown@formal@none@1@S@A few weeks ago, New York sold $750 million of tax-exempts.@@@@1@11@@oe@2-2-2013
20671036@unknown@formal@none@1@S@New York City bonds have been beaten down for three straight weeks.@@@@1@12@@oe@2-2-2013
20671037@unknown@formal@none@1@S@On Friday, some issues fell nearly one point, or close to $10 for each $1,000 face amount.@@@@1@17@@oe@2-2-2013
20671038@unknown@formal@none@1@S@The sell-off in New York City bonds was triggered by concerns about the city's financial health and political uncertainty in view of the impending mayoral election.@@@@1@26@@oe@2-2-2013
20671039@unknown@formal@none@1@S@The city's economy is growing weaker and expenditures are rising as tax revenue is falling.@@@@1@15@@oe@2-2-2013
20671040@unknown@formal@none@1@S@"The city has issued so much supply recently that some people are getting a little concerned.@@@@1@16@@oe@2-2-2013
20671041@unknown@formal@none@1@S@They'd like to see some other names in their portfolios," said Michael S. Appelbaum, first vice president at Shearson Lehman Hutton.@@@@1@21@@oe@2-2-2013
20671042@unknown@formal@none@1@S@But he thinks investors may be overreacting to the market's problems.@@@@1@11@@oe@2-2-2013
20671043@unknown@formal@none@1@S@Overall, he says, municipal prices are "very cheap" and represent an "excellent buying opportunity."@@@@1@14@@oe@2-2-2013
20671044@unknown@formal@none@1@S@Friday's Market Activity@@@@1@3@@oe@2-2-2013
20671045@unknown@formal@none@1@S@Treasury bonds fell sharply on confusion about this week's Treasury debt auction and rumors that a major Japanese investor was unloading large amounts of long-term bonds.@@@@1@26@@oe@2-2-2013
20671046@unknown@formal@none@1@S@The Treasury's benchmark 30-year bond ended at a price of 102 2/32, down nearly 5/8 point from Thursday, or about $6.25 for each $1,000 face amount.@@@@1@26@@oe@2-2-2013
20671047@unknown@formal@none@1@S@The issue's yield rose to 7.93% from 7.88%.@@@@1@8@@oe@2-2-2013
20671048@unknown@formal@none@1@S@Late Thursday, the Treasury said it needed to raise $17 billion quickly and would do so by issuing new securities this week.@@@@1@22@@oe@2-2-2013
20671049@unknown@formal@none@1@S@Credit market analysts expected the Treasury to cancel today's three-month and six-month sale and to sell $17 billion of cash management bills.@@@@1@22@@oe@2-2-2013
20671050@unknown@formal@none@1@S@Instead, the Treasury announced it would sell $2 billion of 51-day cash management bills today and said that the weekly sale of $15.6 billion of three-month and six-month bills will take place today, as usual, but the sale will settle tomorrow instead of Thursday.@@@@1@44@@oe@2-2-2013
20671051@unknown@formal@none@1@S@By moving the settlement date ahead, the Treasury can raise money under the $2.87 trillion debt ceiling that is in effect through tomorrow, after which it reverts to $2.8 trillion.@@@@1@30@@oe@2-2-2013
20671052@unknown@formal@none@1@S@The market also was hurt by rumors that Nippon Kangyo Kakumaru, a Japanese brokerage firm, was unloading some of the 30-year bonds it recently purchased.@@@@1@25@@oe@2-2-2013
20671053@unknown@formal@none@1@S@One dealer said the talk was that the firm sold about $500 million of bellwether 30-year bonds.@@@@1@17@@oe@2-2-2013
20671054@unknown@formal@none@1@S@The firm is thought to have purchased up to $3 billion of 30-year bonds in a buying spree on Wednesday and the previous Thursday.@@@@1@24@@oe@2-2-2013
20671055@unknown@formal@none@1@S@Dealers say the firm apparently has wanted to publicize its recent buying and subsequent selling of 30-year bonds by using Cantor Fitzgerald Securities Corp. as a broker.@@@@1@27@@oe@2-2-2013
20671056@unknown@formal@none@1@S@Cantor provides price quotes to Telerate Systems Inc., a widely used electronic system.@@@@1@13@@oe@2-2-2013
20671057@unknown@formal@none@1@S@Nippon Kangyo's moves puzzled traders and created confusion among potential investors, many of whom decided to stay out of the market.@@@@1@21@@oe@2-2-2013
20671058@unknown@formal@none@1@S@As a result of its large-scale buying, some analysts now say that liquidity, or the ability to easily buy and sell, has been constrained in the benchmark Treasury bond issue.@@@@1@30@@oe@2-2-2013
20671059@unknown@formal@none@1@S@In other markets:@@@@1@3@@oe@2-2-2013
20671060@unknown@formal@none@1@S@-- The junk bonds of RJR Nabisco Inc. rallied Friday on news that the company is selling its candy bar brands to Nestle Foods Corp. for $370 million.@@@@1@28@@oe@2-2-2013
20671061@unknown@formal@none@1@S@The sale price, which was above Wall Street expectations, sent many RJR securities up by one point.@@@@1@17@@oe@2-2-2013
20671062@unknown@formal@none@1@S@"It shows that there are buyers of high-quality assets at high prices in today's market," said Robert Long, managing director and head of the high-yield research department at First Boston Corp.@@@@1@31@@oe@2-2-2013
20671063@unknown@formal@none@1@S@Many of the RJR securities, which had been trading near their 52-week lows earlier in the session, bounced back after the company's announcement that it agreed to sell its Baby Ruth, Butterfinger and Pearson candy businesses to Nestle Foods, a unit of the Swiss-based food concern.@@@@1@46@@oe@2-2-2013
20671064@unknown@formal@none@1@S@The sale, expected to close before the end of the year, also includes a manufacturing plant in Franklin Park, Ill.@@@@1@20@@oe@2-2-2013
20671065@unknown@formal@none@1@S@RJR's subordinated discount debentures of 2001, which traded as low as 45 Friday, finished the day at 46 7/8.@@@@1@19@@oe@2-2-2013
20671066@unknown@formal@none@1@S@Other RJR securities also closed higher.@@@@1@6@@oe@2-2-2013
20671067@unknown@formal@none@1@S@RJR Holdings Capital Corp.'s 14.7% convertible pay-in-kind securities maturing in 2009 closed 1/2 higher at 86 1/2 after trading as low as 85 1/4.@@@@1@24@@oe@2-2-2013
20671068@unknown@formal@none@1@S@Most other junk bond issues finished a quarter-point lower on rumors that Campeau Corp. was filing for protection from creditors under Chapter 11 of the Bankruptcy Code.@@@@1@27@@oe@2-2-2013
20671069@unknown@formal@none@1@S@A spokesman for Campeau called the rumors "ridiculous."@@@@1@8@@oe@2-2-2013
20671070@unknown@formal@none@1@S@Most investment-grade bonds fell 3/8 to 1/2 point.@@@@1@8@@oe@2-2-2013
20671071@unknown@formal@none@1@S@-- Mortgage securities fell 7/32 to 8/32 but held up better than intermediate Treasurys.@@@@1@14@@oe@2-2-2013
20671072@unknown@formal@none@1@S@Dealers said some defensive investors were buyers of mortgages, as were dealers seeking collateral for REMICs priced earlier last week.@@@@1@20@@oe@2-2-2013
20671073@unknown@formal@none@1@S@Among major issues, Government National Mortgage Association 9% securities for November delivery ended at 98 12/32, down 8/32 point for a yield of about 9.35% to a 12-year average life assumption.@@@@1@31@@oe@2-2-2013
20672001@unknown@formal@none@1@S@The premium the elderly pay for coverage of doctor's bills under Part B of the Medicare health insurance plan will rise to $29 a month in 1990 from $27.90, the Department of Health and Human Services said.@@@@1@37@@oe@2-2-2013
20672002@unknown@formal@none@1@S@In addition, a second Part B premium to cover the cost of the new program of insurance against catastrophic illness will rise to $4.90 a month from $4, if Congress doesn't change the program.@@@@1@34@@oe@2-2-2013
20672003@unknown@formal@none@1@S@The House has voted to repeal most of the Catastrophic Coverage Act of 1988, however, which would end the monthly catastrophic-care premium, as well as an unpopular income surtax paid by about 40% of the wealthier Medicare beneficiaries.@@@@1@38@@oe@2-2-2013
20672004@unknown@formal@none@1@S@Under a less-sweeping Senate plan, the catastrophic-care monthly premium would continue, rising to $4.90 next year, but the surtax would be abolished.@@@@1@22@@oe@2-2-2013
20672005@unknown@formal@none@1@S@Medicare Part B pays 80% of a beneficiary's allowable doctor's bills after an annual deductible of $75.@@@@1@17@@oe@2-2-2013
20672006@unknown@formal@none@1@S@The Catastrophic Coverage Act would add a stop-loss provision next year to limit the maximum beneficiaries must pay for doctors.@@@@1@20@@oe@2-2-2013
20672007@unknown@formal@none@1@S@Both the House and Senate bills to reduce the cost and coverage of the catastrophic-care plan would eliminate the cap on doctor's bills.@@@@1@23@@oe@2-2-2013
20672008@unknown@formal@none@1@S@If the House prevails in its efforts to kill the catastrophic-care plan, the monthly Part B premium will be $29 next year.@@@@1@22@@oe@2-2-2013
20672009@unknown@formal@none@1@S@If the Senate plan prevails, the premium will be $33.90, with the additional $4.90 going to pay for expanded hospital coverage under Part A of Medicare.@@@@1@26@@oe@2-2-2013
20672010@unknown@formal@none@1@S@Most of Part A's costs are paid by a payroll tax on workers and employers.@@@@1@15@@oe@2-2-2013
20673001@unknown@formal@none@1@S@Lockheed Corp. said it will trim its Aeronautical Systems work force in California and Georgia by several hundred workers, reflecting the defense industry's decline.@@@@1@24@@oe@2-2-2013
20673002@unknown@formal@none@1@S@The Lockheed unit has 24,000 workers; it expects to make the cuts through a combination of furloughs, attrition and retirements.@@@@1@20@@oe@2-2-2013
20673003@unknown@formal@none@1@S@The reductions should be complete by the end of the year, a spokesman said, adding that the exact number to be cut hasn't been determined.@@@@1@25@@oe@2-2-2013
20673004@unknown@formal@none@1@S@Lockheed reported a $32 million third-quarter net loss, largely because of cost overruns on fixed-price military contracts.@@@@1@17@@oe@2-2-2013
20673005@unknown@formal@none@1@S@Noting that other defense contractors are complaining of losses on such contracts, analysts say taxpayers have been getting illusionary bargains on weapons systems in recent years.@@@@1@26@@oe@2-2-2013
20673006@unknown@formal@none@1@S@Defense contractors "cannot continue to get contracts on that basis," said Howard Rubel, an analyst with C.J. Lawrence, Morgan Grenfell Inc. in New York.@@@@1@24@@oe@2-2-2013
20673007@unknown@formal@none@1@S@"The pain is too great.@@@@1@5@@oe@2-2-2013
20674001@unknown@formal@none@1@S@Jim Pattison Industries Ltd., one of a group of closely held companies owned by entrepreneur James Pattison, said it "intends to seek control" of 30%-owned Innopac Inc., a Toronto packaging concern.@@@@1@31@@oe@2-2-2013
20674002@unknown@formal@none@1@S@Jim Pattison Industries, a holding company with annual sales of about C$1.9 billion, largely from car dealerships and grocery stores, didn't elaborate on the statement, and a company official declined further comment.@@@@1@32@@oe@2-2-2013
20674003@unknown@formal@none@1@S@The company said it currently holds about 4.2 million of Innopac's 13.8 million common shares outstanding, which have an aggregate market value of about 137.8 million Canadian dollars (US$117.3 million).@@@@1@30@@oe@2-2-2013
20674004@unknown@formal@none@1@S@Separately, Innopac reported a fourth-quarter loss of about C$2.6 million, or 18 Canadian cents a share, reflecting inventory write-downs.@@@@1@19@@oe@2-2-2013
20674005@unknown@formal@none@1@S@The results made net income for the year ended Aug. 31 C$2.7 million, or 20 Canadian cents a share, down from C$9.7 million, or 70 Canadian cents a share last year.@@@@1@31@@oe@2-2-2013
20674006@unknown@formal@none@1@S@Revenue was C$291.6 million, up from C$252 million in 1988.@@@@1@10@@oe@2-2-2013
20674007@unknown@formal@none@1@S@Martin Fabi, Innopac's president and chief executive, said Innopac viewed Mr. Pattison's decision to seek control as a "very positive" move.@@@@1@21@@oe@2-2-2013
20674008@unknown@formal@none@1@S@"I'm happy that he feels positively about our company," he said.@@@@1@11@@oe@2-2-2013
20674009@unknown@formal@none@1@S@Mr. Fabi wouldn't say directly whether Mr. Pattison has disclosed potential terms for his planned bid for control.@@@@1@18@@oe@2-2-2013
20674010@unknown@formal@none@1@S@Among other things, Innopac is involved in recycling polystyrene foam products that are often used by fast food chains, such as McDonald's Corp., for food packaging.@@@@1@26@@oe@2-2-2013
20674011@unknown@formal@none@1@S@A joint venture involving units of Innopac and Mobil Corp. earlier this year opened the first U.S. polystyrene recycling plant, in Leominster, Mass.@@@@1@23@@oe@2-2-2013
20675001@unknown@formal@none@1@S@PROGRAM TRADING is being curbed by more securities firms, but big institutional investors are expected to continue the practice, further roiling the stock market.@@@@1@24@@oe@2-2-2013
20675002@unknown@formal@none@1@S@Bowing to criticism, Bear Stearns, Morgan Stanley and Oppenheimer joined PaineWebber in suspending stock-index arbitrage trading for their own accounts.@@@@1@20@@oe@2-2-2013
20675003@unknown@formal@none@1@S@Still, stock-index funds are expected to continue launching big programs through the market.@@@@1@13@@oe@2-2-2013
20675004@unknown@formal@none@1@S@Several Big Board firms are organizing to complain about program trading and the exchange's role in it.@@@@1@17@@oe@2-2-2013
20675005@unknown@formal@none@1@S@The effort is being led by Contel.@@@@1@7@@oe@2-2-2013
20675006@unknown@formal@none@1@S@Personal spending rose 0.2% in September, the smallest gain in a year.@@@@1@12@@oe@2-2-2013
20675007@unknown@formal@none@1@S@The slowdown raises questions about the economy's strength because spending fueled much of the third-quarter GNP growth.@@@@1@17@@oe@2-2-2013
20675008@unknown@formal@none@1@S@Meanwhile, personal income edged up 0.3%.@@@@1@6@@oe@2-2-2013
20675009@unknown@formal@none@1@S@Factory owners are buying new machinery at a healthy rate this fall, machine-tool makers say.@@@@1@15@@oe@2-2-2013
20675010@unknown@formal@none@1@S@But weak car sales raise questions about future demand from the auto sector.@@@@1@13@@oe@2-2-2013
20675011@unknown@formal@none@1@S@Southern's Gulf Power unit may plead guilty this week to charges it illegally steered company money to politicians through third parties.@@@@1@21@@oe@2-2-2013
20675012@unknown@formal@none@1@S@The tentative pact would resolve part of a broad investigation of the Atlanta-based company in the past year.@@@@1@18@@oe@2-2-2013
20675013@unknown@formal@none@1@S@LIN Broadcasting and BellSouth sweetened their plan to merge cellular phone operations, offering LIN holders a special $42-a-share payout.@@@@1@19@@oe@2-2-2013
20675014@unknown@formal@none@1@S@But the new pact will force huge debt on the new firm and could still fail to thwart rival suitor McCaw Cellular.@@@@1@22@@oe@2-2-2013
20675015@unknown@formal@none@1@S@Unisys posted a $648.2 million loss for the third quarter as it moved quickly to take write-offs for various problems and prepare for a turnaround.@@@@1@25@@oe@2-2-2013
20675016@unknown@formal@none@1@S@But some analysts wonder how strong the recovery will be.@@@@1@10@@oe@2-2-2013
20675017@unknown@formal@none@1@S@RJR Nabisco agreed to sell three candy businesses to Nestle for $370 million.@@@@1@13@@oe@2-2-2013
20675018@unknown@formal@none@1@S@The accord helps RJR pay off debt and boosts Nestle's 7% share of the U.S. candy market to 12%.@@@@1@19@@oe@2-2-2013
20675019@unknown@formal@none@1@S@GM and Ford are expected to go head to head in the markets to buy up rival 15% stakes in Jaguar.@@@@1@21@@oe@2-2-2013
20675020@unknown@formal@none@1@S@GM confirmed it received U.S. antitrust clearance to boost its holding.@@@@1@11@@oe@2-2-2013
20675021@unknown@formal@none@1@S@Sansui Electric agreed to sell a 51% stake to Polly Peck of Britain for $110 million.@@@@1@16@@oe@2-2-2013
20675022@unknown@formal@none@1@S@Still, analysts said the accord doesn't suggest Japan is opening up to more foreign takeovers.@@@@1@15@@oe@2-2-2013
20675023@unknown@formal@none@1@S@Kellogg suspended work on a $1 billion cereal plant, indicating a pessimistic outlook by the cereal maker, which has been losing market share.@@@@1@23@@oe@2-2-2013
20675024@unknown@formal@none@1@S@Insurers could see claims totaling nearly $1 billion from the San Francisco earthquake, far less than the $4 billion from Hurricane Hugo.@@@@1@22@@oe@2-2-2013
20675025@unknown@formal@none@1@S@Nashua strengthened its poison-pill plan after announcing a Dutch firm is seeking to buy up to 25% of the New Hampshire copier company.@@@@1@23@@oe@2-2-2013
20675026@unknown@formal@none@1@S@Mobil is cutting back its U.S. oil and gas exploration and production group by up to 15% as part of a restructuring of the business.@@@@1@25@@oe@2-2-2013
20675027@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
20675028@unknown@formal@none@1@S@Stocks: Volume 170,330,000 shares.@@@@1@4@@oe@2-2-2013
20675029@unknown@formal@none@1@S@Dow Jones industrials 2596.72, off 17.01; transportation 1190.43, off 14.76; utilities 215.86, up 0.19.@@@@1@14@@oe@2-2-2013
20675030@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3406.31, off@@@@1@8@@oe@2-2-2013
20675031@unknown@formal@none@1@S@Commodities: Dow Jones futures index 129.49, up 0.27; spot index 130.80, off 0.24.@@@@1@13@@oe@2-2-2013
20675032@unknown@formal@none@1@S@Dollar: 141.65 yen, off 0.45; 1.8300 marks, off 0.0100.@@@@1@9@@oe@2-2-2013
20676001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
20676002@unknown@formal@none@1@S@Thomas Jefferson sold Congress on the idea of the decimal system for currency, thus saving Americans the headaches of pounds, shillings and pence.@@@@1@23@@oe@2-2-2013
20676003@unknown@formal@none@1@S@But he struck out with the decimal system of metric weights and measures the French had invented.@@@@1@17@@oe@2-2-2013
20676004@unknown@formal@none@1@S@Instead, Congress opted for the inches, feet and yards the colonists had brought with them.@@@@1@15@@oe@2-2-2013
20676005@unknown@formal@none@1@S@Americans didn't dislike metrics; they simply ignored them.@@@@1@8@@oe@2-2-2013
20676006@unknown@formal@none@1@S@Scientists felt differently.@@@@1@3@@oe@2-2-2013
20676007@unknown@formal@none@1@S@In 1807, the Swiss mathematician who headed the U.S. Coast and Geodetic Survey made an "iron meter" that he had brought from Europe the standard of measure.@@@@1@27@@oe@2-2-2013
20676008@unknown@formal@none@1@S@By the end of the century scientists had embraced the system.@@@@1@11@@oe@2-2-2013
20676009@unknown@formal@none@1@S@Businessmen took their cue from the engineers.@@@@1@7@@oe@2-2-2013
20676010@unknown@formal@none@1@S@When Congress finally passed the Metric Conversion Act in 1975, industry was far ahead.@@@@1@14@@oe@2-2-2013
20676011@unknown@formal@none@1@S@Because the law made compliance voluntary, it inspired little more than jokes.@@@@1@12@@oe@2-2-2013
20676012@unknown@formal@none@1@S@(The press had a field day with questions about what would happen to "six-footer," "yardstick" and "inchworm.")@@@@1@17@@oe@2-2-2013
20676013@unknown@formal@none@1@S@Today, though the public is barely aware, much of U.S. industry, particularly companies manufacturing or selling overseas, have made metrics routine.@@@@1@21@@oe@2-2-2013
20676014@unknown@formal@none@1@S@General Motors, for example, uses metric terms for its automobile bodies and power trains.@@@@1@14@@oe@2-2-2013
20676015@unknown@formal@none@1@S@(In auto advertising, however, items such as wheelbases are still described in inches.)@@@@1@13@@oe@2-2-2013
20676016@unknown@formal@none@1@S@Farm-machine makers such as Caterpillar and Deere work in the metric system.@@@@1@12@@oe@2-2-2013
20676017@unknown@formal@none@1@S@The liquor industry went metric 10 years ago.@@@@1@8@@oe@2-2-2013
20676018@unknown@formal@none@1@S@The Pentagon has led the charge, particularly as military alliances spread world-wide.@@@@1@12@@oe@2-2-2013
20676019@unknown@formal@none@1@S@New weapons systems will be around until the next century, notes John Tascher, the Defense Department's metric coordinator.@@@@1@18@@oe@2-2-2013
20676020@unknown@formal@none@1@S@Still, like the auto makers, when dealing with Mr. Everyman the Pentagon sticks to the tried and true.@@@@1@18@@oe@2-2-2013
20676021@unknown@formal@none@1@S@Soldiers and sailors are still measured in inches and pounds.@@@@1@10@@oe@2-2-2013
20677001@unknown@formal@none@1@S@Whittle Communications L.P., which for months has fought a public relations battle with education leaders, said it has signed 500 schools in 24 states to subscribe to the controversial Channel One news program and its sister programs.@@@@1@37@@oe@2-2-2013
20677002@unknown@formal@none@1@S@Channel One, a satellite-delivered daily program supported by advertising, is scheduled to be launched next March.@@@@1@16@@oe@2-2-2013
20677003@unknown@formal@none@1@S@Whittle said its field staff signed up the 500 schools in 238 school districts after only eight weeks and company executives now expect to reach their start-up goal of 1,000 schools before the end of this year.@@@@1@37@@oe@2-2-2013
20677004@unknown@formal@none@1@S@Christopher Whittle, chairman of the Knoxville, Tenn., media company that is 50% owned by Time Warner Inc., said that by December 1990 he expects to have Channel One installed in about 8,000 schools with a potential audience of six million.@@@@1@40@@oe@2-2-2013
20677005@unknown@formal@none@1@S@Installation of the TV system, which includes providing free 19-inch TV sets in classrooms, begins in January.@@@@1@17@@oe@2-2-2013
20677006@unknown@formal@none@1@S@"What we've done in eight weeks shows we won't have enormous difficulties getting to the place we want to be," said Mr. Whittle.@@@@1@23@@oe@2-2-2013
20677007@unknown@formal@none@1@S@He said his sales force is signing up schools at the rate of 25 a day.@@@@1@16@@oe@2-2-2013
20677008@unknown@formal@none@1@S@In California and New York, state officials have opposed Channel One.@@@@1@11@@oe@2-2-2013
20677009@unknown@formal@none@1@S@Mr. Whittle said private and parochial schools in both states will be canvassed to see if they are interested in getting the programs.@@@@1@23@@oe@2-2-2013
20677010@unknown@formal@none@1@S@Subscribing schools get the 12-minute daily Channel One news program, whose four 30-second TV ads during each show have drawn protests from educators.@@@@1@23@@oe@2-2-2013
20677011@unknown@formal@none@1@S@Subscribers also get the Classroom Channel, which will feature ad-free educational programming similar to some public-TV shows, and the Educator's Channel, which will offer instructional programming for teachers and school administrators and will be supported by advertising.@@@@1@37@@oe@2-2-2013
20677012@unknown@formal@none@1@S@Whittle has met some resistance.@@@@1@5@@oe@2-2-2013
20677013@unknown@formal@none@1@S@The Educational Network, as Mr. Whittle has named the three programs, has been offered to 1,290 school districts and Whittle continues to negotiate with 919 districts.@@@@1@26@@oe@2-2-2013
20677014@unknown@formal@none@1@S@About 10% of the school districts approached have rejected the network.@@@@1@11@@oe@2-2-2013
20677015@unknown@formal@none@1@S@Mr. Whittle said that so far, three of the six schools that carried the program in a five-week test last spring have subscribed to the program.@@@@1@26@@oe@2-2-2013
20677016@unknown@formal@none@1@S@One of the test schools, Withrow High School in Cincinnati, rejected the project.@@@@1@13@@oe@2-2-2013
20677017@unknown@formal@none@1@S@John Bruner, associate director of communications for Cincinnati Public Schools, said Channel One was rejected because students watching the program didn't fare particularly better on a 28-question current events quiz than a control school without the program and school absences were almost unchanged during the period when the program was being aired.@@@@1@52@@oe@2-2-2013
20677018@unknown@formal@none@1@S@"The number of correct responses was 45% on the test and school absences didn't change much," said Mr. Bruner.@@@@1@19@@oe@2-2-2013
20677019@unknown@formal@none@1@S@"The pilot program was received well (by teachers and students), but there wasn't reason enough to sign up.@@@@1@18@@oe@2-2-2013
20677020@unknown@formal@none@1@S@We even invited the public to stop by and see the program, but there wasn't much interest."@@@@1@17@@oe@2-2-2013
20677021@unknown@formal@none@1@S@Advertisers are showing interest.@@@@1@4@@oe@2-2-2013
20677022@unknown@formal@none@1@S@Last month, Whittle announced it had sold $150 million in advertising time on the network to national advertisers.@@@@1@18@@oe@2-2-2013
20677023@unknown@formal@none@1@S@Mr. Whittle Friday said several more advertisers have been added.@@@@1@10@@oe@2-2-2013
20677024@unknown@formal@none@1@S@Whittle is spending $150 million initially to launch the network.@@@@1@10@@oe@2-2-2013
20677025@unknown@formal@none@1@S@Installation of satellite dishes, TVs and videocassette equipment will cost the company about $20,000 per school, Mr. Whittle said.@@@@1@19@@oe@2-2-2013
20678001@unknown@formal@none@1@S@The following U.S. Treasury, corporate and municipal offerings are tentatively scheduled for sale this week, according to Dow Jones Capital Markets Report:@@@@1@22@@oe@2-2-2013
20678002@unknown@formal@none@1@S@$15.6 billion of three-month and six-month bills.@@@@1@7@@oe@2-2-2013
20678003@unknown@formal@none@1@S@$2 billion of 51-day cash management bills.@@@@1@7@@oe@2-2-2013
20678004@unknown@formal@none@1@S@Associated Natural Gas Corp. -- 1.4 million common shares, via Dillon Read & Co.@@@@1@14@@oe@2-2-2013
20678005@unknown@formal@none@1@S@B & H Crude Carriers Ltd. -- Four million common shares, via Salomon Brothers Inc.@@@@1@15@@oe@2-2-2013
20678006@unknown@formal@none@1@S@Chemical Banking Corp. -- 14 million common shares, via Goldman, Sachs & Co.@@@@1@13@@oe@2-2-2013
20678007@unknown@formal@none@1@S@Chemex Pharmaceuticals Inc. -- 1.2 million units consisting of two shares of common stock and one common warrant, via PaineWebber Inc.@@@@1@21@@oe@2-2-2013
20678008@unknown@formal@none@1@S@Comcast Corp. -- $150 million convertible debentures, via Merrill Lynch Capital Markets.@@@@1@12@@oe@2-2-2013
20678009@unknown@formal@none@1@S@Energy Service Co. -- 9.5 million common shares, via Alex.@@@@1@10@@oe@2-2-2013
20678010@unknown@formal@none@1@S@Brown & Sons Inc.@@@@1@4@@oe@2-2-2013
20678011@unknown@formal@none@1@S@Harmonia Bancorp Inc. -- 4,750,000 common shares, via Shearson Lehman Hutton Inc.@@@@1@12@@oe@2-2-2013
20678012@unknown@formal@none@1@S@Healthsource Inc. -- Two million common shares, via Kidder, Peabody & Co.@@@@1@12@@oe@2-2-2013
20678013@unknown@formal@none@1@S@Immune Response Corp. -- Three million common shares, via Merrill Lynch.@@@@1@11@@oe@2-2-2013
20678014@unknown@formal@none@1@S@Marsam Pharmaceuticals Inc. -- 1.3 million common shares, via Smith Barney Harris Upham & Co.@@@@1@15@@oe@2-2-2013
20678015@unknown@formal@none@1@S@Potash Corp. of Saskatchewan Inc. -- 13 million common shares, via Merrill Lynch.@@@@1@13@@oe@2-2-2013
20678016@unknown@formal@none@1@S@Municipal@@@@1@1@@oe@2-2-2013
20678017@unknown@formal@none@1@S@New Jersey Wastewater Treatment Trust -- $75,075,000 of various bonds, including $40.86 million Wastewater Treatment insured bonds, Series 1989A, and $34,215,000 Wastewater Treatment bonds, Series 1989B, via competitive bid.@@@@1@29@@oe@2-2-2013
20678018@unknown@formal@none@1@S@Eastern Municipal Water District, Calif. -- $56,565,000 of 1989 certificates of participation (treatment plant projects), via competitive bid.@@@@1@18@@oe@2-2-2013
20678019@unknown@formal@none@1@S@California Health Facilities Financing Authority -- $114 million of health facility revenue bonds (Catholic Healthcare West), Series 1989A, via a First Boston Corp. group.@@@@1@24@@oe@2-2-2013
20678020@unknown@formal@none@1@S@Detroit -- $130 million of distributable state aid bonds, via a Chemical Securities Inc. group.@@@@1@15@@oe@2-2-2013
20678021@unknown@formal@none@1@S@Maryland Community Development Administration, Department of Housing and Community Development -- $80 million of single-family program bonds, 1989 4th and 5th Series, via a Merrill Lynch group.@@@@1@27@@oe@2-2-2013
20678022@unknown@formal@none@1@S@Matagorda County Navigation District No. 1, Texas -- $70,315,000 of pollution control revenue Alternative Minimum Tax (AMT) bonds (South Texas Project Units No. 1 and 2), via a Goldman Sachs group.@@@@1@31@@oe@2-2-2013
20678023@unknown@formal@none@1@S@New York City -- $786,860,000 of bonds, Fiscal 1990 Series C and D, including $729.04 million tax-exempt bonds and $57.82 million taxable bonds, via a Goldman Sachs group.@@@@1@28@@oe@2-2-2013
20678024@unknown@formal@none@1@S@Santa Ana Redevelopment Agency -- $107 million of tax allocation bonds, 1989 Series A-D, via a Donaldson Lufkin & Jenrette Securities Corp. group.@@@@1@23@@oe@2-2-2013
20678025@unknown@formal@none@1@S@Pending Shelby County, Tenn. -- $80 million of refunding bonds, Series 1989, via a First Tennessee Bank group.@@@@1@18@@oe@2-2-2013
20679001@unknown@formal@none@1@S@Hewlett-Packard Co. said it raised its stake in Octel Communications Corp. to 8.5% of the common shares outstanding.@@@@1@18@@oe@2-2-2013
20679002@unknown@formal@none@1@S@In a Securities and Exchange Commission filing, Hewlett-Packard said it now holds 1,384,119 Octel common shares, including 100,000 shares bought from Aug. 26 to Oct. 20 for $23.31 to $24.25 a share.@@@@1@32@@oe@2-2-2013
20679003@unknown@formal@none@1@S@Hewlett-Packard, a Palo Alto, Calif., computer company, said it acquired the stock "to develop and maintain a strategic partnership in which each company remains independent while working together to market and sell their products."@@@@1@34@@oe@2-2-2013
20679004@unknown@formal@none@1@S@Octel said the purchase was expected.@@@@1@6@@oe@2-2-2013
20679005@unknown@formal@none@1@S@Hewlett-Packard affirmed it doesn't plan to obtain control of Octel, a Milpitas, Calif., maker of voice-processing systems.@@@@1@17@@oe@2-2-2013
20679006@unknown@formal@none@1@S@According to the filing, Hewlett-Packard acquired 730,070 common shares from Octel as a result of an Aug. 10, 1988, stock purchase agreement.@@@@1@22@@oe@2-2-2013
20679007@unknown@formal@none@1@S@That accord also called for Hewlett-Packard to buy 730,070 Octel shares in the open market within 18 months.@@@@1@18@@oe@2-2-2013
20679008@unknown@formal@none@1@S@In addition, Hewlett-Packard acquired a two-year option to buy an extra 10%, of which half may be sold directly to Hewlett-Packard by Octel.@@@@1@23@@oe@2-2-2013
20680001@unknown@formal@none@1@S@Following is a weekly listing of unadited net asset values of publicly traded investment fund shares, reported by the companies as of Friday's close.@@@@1@24@@oe@2-2-2013
20680002@unknown@formal@none@1@S@Also shown is the closing listed market price or a dealer-to-dealer asked price of each fund's shares, with the percentage of difference.@@@@1@22@@oe@2-2-2013
20680003@unknown@formal@none@1@S@Closed End Bond Funds@@@@1@4@@oe@2-2-2013
20680004@unknown@formal@none@1@S@Flexible Portfolio Funds@@@@1@3@@oe@2-2-2013
20680005@unknown@formal@none@1@S@Specialized Equity and Convertible Funds@@@@1@5@@oe@2-2-2013
20680006@unknown@formal@none@1@S@a-Ex-dividend.@@@@1@1@@oe@2-2-2013
20680007@unknown@formal@none@1@S@b-As of Thursday's close.@@@@1@4@@oe@2-2-2013
20680008@unknown@formal@none@1@S@c-Translated at Commercial Rand exchange rate.@@@@1@6@@oe@2-2-2013
20680009@unknown@formal@none@1@S@e-In Canadian dollars.@@@@1@3@@oe@2-2-2013
20680010@unknown@formal@none@1@S@f-As of Wednesday's close.@@@@1@4@@oe@2-2-2013
20680011@unknown@formal@none@1@S@z-Not available.@@@@1@2@@oe@2-2-2013
20681001@unknown@formal@none@1@S@Wham! Bam!@@@@1@2@@oe@2-2-2013
20681002@unknown@formal@none@1@S@Twice in two weeks the unraveling of the on-again, off-again UAL buy-out slammed the stock market.@@@@1@16@@oe@2-2-2013
20681003@unknown@formal@none@1@S@Now, stock prices seem to be in a general retreat.@@@@1@10@@oe@2-2-2013
20681004@unknown@formal@none@1@S@Since peaking at 2791.41 on Oct. 9, the Dow Jones Industrial Average has lost 194.69 points, or 7%, closing Friday at 2596.72, down 17.01.@@@@1@24@@oe@2-2-2013
20681005@unknown@formal@none@1@S@The number of issues falling on the New York Stock Exchange each day is eclipsing the number of gainers.@@@@1@19@@oe@2-2-2013
20681006@unknown@formal@none@1@S@And the number of stocks hitting new lows far outstrips the number setting new highs.@@@@1@15@@oe@2-2-2013
20681007@unknown@formal@none@1@S@But why should an iffy $6.79 billion leveraged buy-out deal shake the foundations of the entire stock market?@@@@1@18@@oe@2-2-2013
20681008@unknown@formal@none@1@S@Opinions vary about how important the UAL deal was to the market's health, but analysts generally agree that the market gyrations created as the UAL plan crumbled revealed a fundamental change in investor psychology.@@@@1@34@@oe@2-2-2013
20681009@unknown@formal@none@1@S@"If this had happened a few months ago when the atmosphere was still very positive it wouldn't have been greeted with anything like the impact it has had over the past two weeks," says Dennis Jarrett, a market strategist at Kidder Peabody.@@@@1@42@@oe@2-2-2013
20681010@unknown@formal@none@1@S@There are, of course, analysts who view the near-panic that briefly swept through investors on Oct. 13 and again on Oct. 24 as momentary lapses of good judgment that have only temporarily undermined a healthy stock market.@@@@1@37@@oe@2-2-2013
20681011@unknown@formal@none@1@S@Sure, price action is volatile and that's scary, but all-in-all stocks are still a good place to be, they suggest.@@@@1@20@@oe@2-2-2013
20681012@unknown@formal@none@1@S@The reaction to the UAL debacle "is mindless," says John Connolly, chief market strategist at Dean Witter.@@@@1@17@@oe@2-2-2013
20681013@unknown@formal@none@1@S@"UAL is a small deal as far as the overall market is concerned.@@@@1@13@@oe@2-2-2013
20681014@unknown@formal@none@1@S@The only way you can make it a big deal is to draw linkages that just don't make sense."@@@@1@19@@oe@2-2-2013
20681015@unknown@formal@none@1@S@He suggests, for example, that investors may have assumed that just because UAL couldn't get financing, no leveraged buy-outs can get financing.@@@@1@22@@oe@2-2-2013
20681016@unknown@formal@none@1@S@Carried even further, some investors assumed that since leveraged buy-outs are the only thing propping up stock prices, the market would collapse if no more LBOs could be done.@@@@1@29@@oe@2-2-2013
20681017@unknown@formal@none@1@S@"There will still be deals," argues Mr. Connolly.@@@@1@8@@oe@2-2-2013
20681018@unknown@formal@none@1@S@"There may not be as many and the buyers may not get away with some of the things they've done in the past, but deals won't disappear."@@@@1@27@@oe@2-2-2013
20681019@unknown@formal@none@1@S@He forecasts that the emphasis in mergers and acquisitions may soon return to what he calls "strategic deals, in which somebody is taking over a company not to milk the cash flow, but because it's a good fit."@@@@1@38@@oe@2-2-2013
20681020@unknown@formal@none@1@S@And even without deals, Mr. Connolly figures the market would remain healthy.@@@@1@12@@oe@2-2-2013
20681021@unknown@formal@none@1@S@He notes, for instance, that there hasn't been a merger or acquisition among the 30 stocks in the Dow Jones Industrial Average since 1986, yet that average only three weeks ago hit a record high.@@@@1@35@@oe@2-2-2013
20681022@unknown@formal@none@1@S@"Those stocks are up because their earnings are up and their dividends are up," he says.@@@@1@16@@oe@2-2-2013
20681023@unknown@formal@none@1@S@Even the volatility created by stock index arbitrage and other computer-driven trading strategies isn't entirely bad, in Mr. Connolly's view.@@@@1@20@@oe@2-2-2013
20681024@unknown@formal@none@1@S@For the long-term investor who picks stocks carefully, the price volatility can provide welcome buying opportunities as short-term players scramble frantically to sell stocks in a matter of minutes.@@@@1@29@@oe@2-2-2013
20681025@unknown@formal@none@1@S@"Who can make the better decision, the guy who has 10 seconds to decide what to do or the guy with all the time in the world?" he says.@@@@1@29@@oe@2-2-2013
20681026@unknown@formal@none@1@S@"What on earth does the UAL deal have to do with the price of Walmart, which I was able to buy on Oct. 16 at a very attractive price?"@@@@1@29@@oe@2-2-2013
20681027@unknown@formal@none@1@S@Kidder Peabody's Mr. Jarrett also sees some benefits to the stock market's recent drop.@@@@1@14@@oe@2-2-2013
20681028@unknown@formal@none@1@S@"We've run into a market that was beginning to run out of steam and get frothy," he says.@@@@1@18@@oe@2-2-2013
20681029@unknown@formal@none@1@S@"The balloon had been blown up so big that when somebody came along with a pin -- in this case the UAL deal -- we got a little pop."@@@@1@29@@oe@2-2-2013
20681030@unknown@formal@none@1@S@The pop sobered up investors who had been getting a little too ebullient, says Mr. Jarrett.@@@@1@16@@oe@2-2-2013
20681031@unknown@formal@none@1@S@"It provided an excuse for people to get back to reality and to look at the economic data, especially the third-quarter economic numbers, and to realize that we can't continue to gloss over what is going on in the junk bond market."@@@@1@42@@oe@2-2-2013
20681032@unknown@formal@none@1@S@But he figures that at current levels the stock market is comfortably valued, even with the economy obviously slowing.@@@@1@19@@oe@2-2-2013
20681033@unknown@formal@none@1@S@"Just because we've got some realism back in the market doesn't mean it's going lower from here," he says.@@@@1@19@@oe@2-2-2013
20681034@unknown@formal@none@1@S@"The bottom line is that it's healthy to have this kind of sideways activity, especially after a 30% gain in stock values over the past 12 months."@@@@1@27@@oe@2-2-2013
20681035@unknown@formal@none@1@S@He's now estimating that after a period of consolidation, the Dow Jones Industrial Average will once again forge new highs.@@@@1@20@@oe@2-2-2013
20681036@unknown@formal@none@1@S@Maybe, maybe not.@@@@1@3@@oe@2-2-2013
20681037@unknown@formal@none@1@S@Abby Joseph Cohen, a market strategist at Drexel Burnham Lambert, isn't nearly so sanguine about the market's chances of surging to new highs anytime soon.@@@@1@25@@oe@2-2-2013
20681038@unknown@formal@none@1@S@Her view is that stock prices have three major props: merger and buy-out proposals, earnings and the economic outlook.@@@@1@19@@oe@2-2-2013
20681039@unknown@formal@none@1@S@At current levels of economic activity and earnings, stocks are fairly valued, she says.@@@@1@14@@oe@2-2-2013
20681040@unknown@formal@none@1@S@But any chance for prices to surge above fair value lies in the speculation that accompanies a vigorous merger and buy-out business, and UAL has obviously put a damper on that.@@@@1@31@@oe@2-2-2013
20681041@unknown@formal@none@1@S@"Stocks aren't cheap anymore, there have been some judicial and legislative changes in the merger area and all of this changes the arithmetic of deals," she says.@@@@1@27@@oe@2-2-2013
20681042@unknown@formal@none@1@S@"I'm not saying they've stopped altogether, but future deals are going to be structured differently and bids probably won't be as high."@@@@1@22@@oe@2-2-2013
20681043@unknown@formal@none@1@S@But that's not the only problem for stocks.@@@@1@8@@oe@2-2-2013
20681044@unknown@formal@none@1@S@The other two props -- earnings and the economic outlook -- are troubling, too.@@@@1@14@@oe@2-2-2013
20681045@unknown@formal@none@1@S@"M&A is getting all the headlines right now, but these other things have been building up more gradually," she says.@@@@1@20@@oe@2-2-2013
20681046@unknown@formal@none@1@S@Third-quarter earnings have been generally disappointing and with economic data showing a clear slowing, the outlook for earnings in the fourth quarter and all of 1990 is getting worse.@@@@1@29@@oe@2-2-2013
20681047@unknown@formal@none@1@S@"There are a lot more downward than upward revisions and it looks like people are questioning corporate profits as a means of support for stock prices," she says.@@@@1@28@@oe@2-2-2013
20681048@unknown@formal@none@1@S@With all this, can stock prices hold their own?@@@@1@9@@oe@2-2-2013
20681049@unknown@formal@none@1@S@"The question is unanswerable at this point," she says.@@@@1@9@@oe@2-2-2013
20681050@unknown@formal@none@1@S@"It depends on what happens.@@@@1@5@@oe@2-2-2013
20681051@unknown@formal@none@1@S@If the economy slips into a recession, then this isn't a level that's going to hold."@@@@1@16@@oe@2-2-2013
20681052@unknown@formal@none@1@S@Friday's Market Activity@@@@1@3@@oe@2-2-2013
20681053@unknown@formal@none@1@S@Stock prices tumbled for a third consecutive day as earnings disappointments, a sluggish economy and a fragile junk bond market continued to weigh on investors.@@@@1@25@@oe@2-2-2013
20681054@unknown@formal@none@1@S@The Dow Jones Industrial Average fell 17.01 points to 2596.72 in active trading.@@@@1@13@@oe@2-2-2013
20681055@unknown@formal@none@1@S@Volume on the New York Stock Exchange totaled 170,330,000 shares.@@@@1@10@@oe@2-2-2013
20681056@unknown@formal@none@1@S@Declining issues on the Big Board were far ahead of gainers, 1,108 to 416.@@@@1@14@@oe@2-2-2013
20681057@unknown@formal@none@1@S@For the week the Dow Jones Industrial Average sank 92.42 points, or 3.4%.@@@@1@13@@oe@2-2-2013
20681058@unknown@formal@none@1@S@Oil stocks escaped the brunt of Friday's selling and several were able to post gains, including Chevron, which rose 5/8 to 66 3/8 in Big Board composite trading of 2.4 million shares.@@@@1@32@@oe@2-2-2013
20681059@unknown@formal@none@1@S@The stock's advance reflected ongoing speculation that Pennzoil is accumulating a stake in the company, according to Dow Jones Professional Investor Report.@@@@1@22@@oe@2-2-2013
20681060@unknown@formal@none@1@S@Both companies declined to comment on the rumors, but several industry analysts told the Professional Investor Report they believed it was plausible that Pennzoil may be buying Chevron shares as a prelude to pushing for a restructuring of the company.@@@@1@40@@oe@2-2-2013
20681061@unknown@formal@none@1@S@USX gained 1/2 to 33 3/8 on a report in Business Week magazine that investor Carl Icahn is said to have raised his stake in the oil and steel company to just about 15%.@@@@1@34@@oe@2-2-2013
20681062@unknown@formal@none@1@S@Earlier this month, Mr. Icahn boosted his USX stake to 13.4%.@@@@1@11@@oe@2-2-2013
20681063@unknown@formal@none@1@S@Elsewhere in the oil sector, Exxon rallied 7/8 to 45 3/4; Amoco rose 1/8 to 47; Texaco was unchanged at 51 3/4, and Atlantic Richfield fell 1 5/8 to 99 1/2.@@@@1@31@@oe@2-2-2013
20681064@unknown@formal@none@1@S@Mobil, which said it plans to cut its exploration and production work force by about 8% in a restructuring, dropped 5/8 to 56 1/8.@@@@1@24@@oe@2-2-2013
20681065@unknown@formal@none@1@S@The precious metals sector outgained other Dow Jones industry groups by a wide margin for the second consecutive session.@@@@1@19@@oe@2-2-2013
20681066@unknown@formal@none@1@S@Hecla Mining rose 5/8 to 14; Battle Mountain Gold climbed 3/4 to 16 3/4; Homestake Mining rose 1 1/8 to 16 7/8; Lac Minerals added 5/8 to 11; Placer Dome went up 7/8 to 16 3/4, and ASA Ltd. jumped 3 5/8 to 49 5/8.@@@@1@45@@oe@2-2-2013
20681067@unknown@formal@none@1@S@Gold mining stocks traded on the American Stock Exchange also showed strength.@@@@1@12@@oe@2-2-2013
20681068@unknown@formal@none@1@S@Echo Bay Mines rose 5/8 to 15 7/8; Pegasus Gold advanced 1 1/2 to 12, and Corona Class A gained 1/2 to 7 1/2.@@@@1@24@@oe@2-2-2013
20681069@unknown@formal@none@1@S@Unisys dropped 3/4 to 16 1/4 after posting a third-quarter loss of $4.25 a share, including restructuring charges, but other important technology issues were mixed.@@@@1@25@@oe@2-2-2013
20681070@unknown@formal@none@1@S@Compaq Computer, which had lost 8 5/8 Thursday following a disappointing quarterly report, gained 5/8 to 100 5/8.@@@@1@18@@oe@2-2-2013
20681071@unknown@formal@none@1@S@International Business Machines dropped 7/8 to 99 7/8.@@@@1@8@@oe@2-2-2013
20681072@unknown@formal@none@1@S@Digital Equipment tacked on 1 1/8 to 89 1/8, and Hewlett-Packard fell 3/8 to 49 3/8.@@@@1@16@@oe@2-2-2013
20681073@unknown@formal@none@1@S@Dividend-related trading swelled volume in Merrill Lynch, which closed unchanged at 28 3/8 as 2.7 million shares changed hands.@@@@1@19@@oe@2-2-2013
20681074@unknown@formal@none@1@S@The stock has a 3.5% dividend yield and goes ex-dividend today.@@@@1@11@@oe@2-2-2013
20681075@unknown@formal@none@1@S@Erbamont advanced 1 1/8 to 36 1/2 on 1.9 million shares.@@@@1@11@@oe@2-2-2013
20681076@unknown@formal@none@1@S@Montedison, which owns about 72% of the company's common stock, agreed to buy the rest for $37 a share.@@@@1@19@@oe@2-2-2013
20681077@unknown@formal@none@1@S@Himont, another majority-owned unit of Montedison, added 1 1/4 to 47 1/8.@@@@1@12@@oe@2-2-2013
20681078@unknown@formal@none@1@S@Milton Roy jumped 2 to 18 3/8.@@@@1@7@@oe@2-2-2013
20681079@unknown@formal@none@1@S@Crane said it holds an 8.9% stake in the company and may seek control.@@@@1@14@@oe@2-2-2013
20681080@unknown@formal@none@1@S@Crane dropped 1 1/8 to 21 1/8.@@@@1@7@@oe@2-2-2013
20681081@unknown@formal@none@1@S@Comprehensive Care, which terminated its agreement to merge with First Hospital, dropped 7/8 to 3 7/8.@@@@1@16@@oe@2-2-2013
20681082@unknown@formal@none@1@S@The company's decision was made after First Hospital failed to obtain financing for its offer.@@@@1@15@@oe@2-2-2013
20682001@unknown@formal@none@1@S@Federal investigators have identified the problem in last July's crash of a United Airlines flight in Iowa: a structural flaw that developed during the making of a titanium engine disk.@@@@1@30@@oe@2-2-2013
20682002@unknown@formal@none@1@S@For several months, officials at the Federal Aviation Administration and the National Transportation Safety Board have suspected that a metallurgical flaw in the disk led to a crack that ultimately caused the tail engine to break apart in flight.@@@@1@39@@oe@2-2-2013
20682003@unknown@formal@none@1@S@The explosion sent shards of metal flying, severing the DC-10's hydraulic or control systems, and led to the crash that killed 112 people.@@@@1@23@@oe@2-2-2013
20682004@unknown@formal@none@1@S@But investigators could confirm their theory only after the recent retrieval of a big chunk of Flight 232's tail engine from a cornfield near the Sioux City Airport in Iowa.@@@@1@30@@oe@2-2-2013
20682005@unknown@formal@none@1@S@The safety board will begin four days of hearings on the accident tomorrow in Sioux City.@@@@1@16@@oe@2-2-2013
20682006@unknown@formal@none@1@S@Among the issues the board will examine is whether United Airlines, a unit of UAL Corp., should have been able to detect the cracks through maintenance checks.@@@@1@27@@oe@2-2-2013
20682007@unknown@formal@none@1@S@The engine involved was a CF6-6 made by General Electric Co.@@@@1@11@@oe@2-2-2013
20682008@unknown@formal@none@1@S@Anthony Broderick, the FAA's acting executive director for regulatory standards and compliance, said that recent tests of the failed engine disk indicate that a flaw -- known as "hard alpha" -- occurred in the titanium during its production almost 20 years ago.@@@@1@42@@oe@2-2-2013
20682009@unknown@formal@none@1@S@He said there wasn't any way to detect the flaw at that time, and that the process has since been changed to decrease the chance that such flaws would occur.@@@@1@30@@oe@2-2-2013
20682010@unknown@formal@none@1@S@The FAA already has ordered that all 232 disks made by the old process be removed from the planes and subjected to an ultrasonic test in a water-submersion chamber.@@@@1@29@@oe@2-2-2013
20682011@unknown@formal@none@1@S@Such tests make the FAA confident that a Sioux City-type accident "won't happen again," said Mr. Broderick.@@@@1@17@@oe@2-2-2013
20682012@unknown@formal@none@1@S@A spokesman for GE said that the company has been working with the FAA all along on this issue and "will comply fully with the required inspections."@@@@1@27@@oe@2-2-2013
20682013@unknown@formal@none@1@S@But he also pointed out that the recalls will have no impact on GE's engine production.@@@@1@16@@oe@2-2-2013
20682014@unknown@formal@none@1@S@The CF6-6 series engines aren't being manufactured any more; they are only being used in the DC-10 Series 10 planes currently in service, he said.@@@@1@25@@oe@2-2-2013
20683001@unknown@formal@none@1@S@A frozen mountaintop in Tibet may offer an important clue about whether the Earth is warming perilously.@@@@1@17@@oe@2-2-2013
20683002@unknown@formal@none@1@S@Researchers at Ohio State University and Lanzhou Institute of Glaciology and Geocryology in China have analyzed samples of glacial ice in Tibet and say temperatures there have been significantly higher on average over the past half-century than in any similar period in the past 10,000 years.@@@@1@46@@oe@2-2-2013
20683003@unknown@formal@none@1@S@The ice samples are an important piece of evidence supporting theories that the Earth has warmed considerably in recent times, largely because of pollutants in the air, and will warm far more in the century ahead.@@@@1@36@@oe@2-2-2013
20683004@unknown@formal@none@1@S@A substantial warming would melt some of the Earth's polar ice caps, raising the level of the oceans and causing widespread flooding of heavily populated coastal areas.@@@@1@27@@oe@2-2-2013
20683005@unknown@formal@none@1@S@"If you can use data to reconstruct what happened in the past, you have much more confidence in predictions for the future," said Lonnie Thompson, a research scientist at Ohio State who dug for and analyzed the ice samples.@@@@1@39@@oe@2-2-2013
20683006@unknown@formal@none@1@S@To compare temperatures over the past 10,000 years, researchers analyzed the changes in concentrations of two forms of oxygen.@@@@1@19@@oe@2-2-2013
20683007@unknown@formal@none@1@S@These measurements can indicate temperature changes, researchers said, because the rates of evaporation of these oxygen atoms differ as temperatures change.@@@@1@21@@oe@2-2-2013
20683008@unknown@formal@none@1@S@Analysis of ice from the Dunde ice cap, a glacial plateau in Tibet 17,000 feet above sea level, show that average temperatures were higher in 1937-87 than in any other 50-year period since before the last Ice Age, Mr. Thompson said.@@@@1@41@@oe@2-2-2013
20683009@unknown@formal@none@1@S@Some climate models project that interior regions of Asia would be among the first to heat up in a global warming because they are far from oceans, which moderate temperature changes.@@@@1@31@@oe@2-2-2013
20683010@unknown@formal@none@1@S@But the ice-core samples aren't definitive proof that the so-called greenhouse effect will lead to further substantial global heating, Mr. Thompson acknowledged.@@@@1@22@@oe@2-2-2013
20683011@unknown@formal@none@1@S@According to greenhouse theories, increased carbon dioxide emissions, largely caused by burning of fossil fuels, will cause the Earth to warm up because carbon dioxide prevents heat from escaping into space.@@@@1@31@@oe@2-2-2013
20683012@unknown@formal@none@1@S@Skeptics say that if that's the case, temperatures should have risen fairly uniformly over the past century, reflecting the increase in carbon dioxide.@@@@1@23@@oe@2-2-2013
20683013@unknown@formal@none@1@S@Instead, the Dunde ice-core record shows increasing temperatures from 1900 through the early 1950s, decreasing temperatures from the late 1950s through the mid-1970s, then higher temperatures again through last year.@@@@1@30@@oe@2-2-2013
20683014@unknown@formal@none@1@S@Other temperature data show similar unexplained swings.@@@@1@7@@oe@2-2-2013
20683015@unknown@formal@none@1@S@"Climate varies drastically due to natural causes," said Mr. Thompson.@@@@1@10@@oe@2-2-2013
20683016@unknown@formal@none@1@S@But he said ice samples from Peru, Greenland and Antarctica all show substantial signs of warming.@@@@1@16@@oe@2-2-2013
20684001@unknown@formal@none@1@S@Telxon Corp. said its vice president for manufacturing resigned and its Houston work force has been trimmed by 40 people, or about 15%.@@@@1@23@@oe@2-2-2013
20684002@unknown@formal@none@1@S@The maker of hand-held computers and computer systems said the personnel changes were needed to improve the efficiency of its manufacturing operation.@@@@1@22@@oe@2-2-2013
20684003@unknown@formal@none@1@S@The company said it hasn't named a successor to Ronald Bufton, the vice president who resigned.@@@@1@16@@oe@2-2-2013
20684004@unknown@formal@none@1@S@Its Houston work force now totals 230.@@@@1@7@@oe@2-2-2013
20685001@unknown@formal@none@1@S@CNW Corp. said the final step in the acquisition of the company has been completed with the merger of CNW with a subsidiary of Chicago & North Western Holdings Corp.@@@@1@30@@oe@2-2-2013
20685002@unknown@formal@none@1@S@As reported, CNW agreed to be acquired by a group of investors led by Blackstone Capital Partners Limited Partnership for $50 a share, or about $950 million.@@@@1@27@@oe@2-2-2013
20686001@unknown@formal@none@1@S@Congress sent to President Bush an $8.5 billion military construction bill that cuts spending for new installations by 16% while revamping the Pentagon budget to move more than $450 million from foreign bases to home-state projects.@@@@1@36@@oe@2-2-2013
20686002@unknown@formal@none@1@S@The fiscal 1990 measure builds on a pattern set earlier this year by House and Senate defense authorizing committees, and -- at a time of retrenchment for the military and concern about the U.S.'s standing in the world economy -- overseas spending is most vulnerable.@@@@1@45@@oe@2-2-2013
20686003@unknown@formal@none@1@S@Total Pentagon requests for installations in West Germany, Japan, South Korea, the United Kingdom and the Philippines, for example, are cut by almost two-thirds, while lawmakers added to the military budget for construction in all but a dozen states at home.@@@@1@41@@oe@2-2-2013
20686004@unknown@formal@none@1@S@The result is that instead of the Pentagon's proposed split of 60-40 between domestic and foreign bases, the reduced funding is distributed by a ratio of approximately 70-30.@@@@1@28@@oe@2-2-2013
20686005@unknown@formal@none@1@S@The extra margin for bases in the U.S. enhances the power of the appropriations committees; meanwhile, lawmakers used their positions to garner as much as six times what the Pentagon had requested for their individual states.@@@@1@36@@oe@2-2-2013
20686006@unknown@formal@none@1@S@House Appropriations Committee Chairman Jamie Whitten (D., Miss.) helped secure $49.7 million for his state, or more than double the Pentagon's budget.@@@@1@22@@oe@2-2-2013
20686007@unknown@formal@none@1@S@West Virginia, home of Senate Appropriations Committee Chairman Robert Byrd, would receive $21.5 million -- four times the military's request.@@@@1@20@@oe@2-2-2013
20686008@unknown@formal@none@1@S@Tennessee and North Carolina, home states of the two Democratic chairmen of the House and Senate military construction subcommittees, receive $243.2 million, or 25% above the Pentagon's request.@@@@1@28@@oe@2-2-2013
20686009@unknown@formal@none@1@S@Though spending for Iowa and Oregon was far less, their increases above Pentagon requests -- 640% and 430%, respectively -- were much greater because of the influence of Republicans at critical junctures.@@@@1@32@@oe@2-2-2013
20686010@unknown@formal@none@1@S@The swift passage of the bill, which cleared the Senate and House on simple voice votes last week, contrasts with the problems still facing a more cumbersome $66.8 billion measure funding housing, environmental, space and veterans programs.@@@@1@37@@oe@2-2-2013
20686011@unknown@formal@none@1@S@By an 84-6 margin, the Senate approved the bulk of the spending Friday, but the bill was then sent back to the House to resolve the question of how to address budget limits on credit allocations for the Federal Housing Administration.@@@@1@41@@oe@2-2-2013
20686012@unknown@formal@none@1@S@The House Democratic leadership could seek to waive these restrictions, but the underlying bill is already under attack for excesses elsewhere.@@@@1@21@@oe@2-2-2013
20686013@unknown@formal@none@1@S@Appropriations committees have used an assortment of devices to disguise as much as $1 billion in spending, and as critics have awakened to these devices, the bill can seem like a wounded caribou trying to make it past ice and wolves to reach safer winter grazing.@@@@1@46@@oe@2-2-2013
20686014@unknown@formal@none@1@S@Much of the excess spending will be pushed into fiscal 1991, and in some cases is temporarily parked in slow-spending accounts in anticipation of being transferred to faster-spending areas after the budget scorekeeping is completed.@@@@1@35@@oe@2-2-2013
20686015@unknown@formal@none@1@S@For example, a House-Senate conference ostensibly increased the National Aeronautics and Space Administration budget for construction of facilities to nearly $592 million, or more than $200 million above what either chamber had previously approved.@@@@1@34@@oe@2-2-2013
20686016@unknown@formal@none@1@S@Part of the increase would provide $90 million toward ensuring construction of a costly solid rocket-motor facility in Mr. Whitten's Mississippi.@@@@1@21@@oe@2-2-2013
20686017@unknown@formal@none@1@S@But as much as $177 million, or nearly 30% of the account, is marked for potential transfers to research, management and flight accounts that are spent out at a faster clip.@@@@1@31@@oe@2-2-2013
20686018@unknown@formal@none@1@S@The bill's managers face criticism, too, for the unusual number of conditions openly imposed on where funds will be spent.@@@@1@20@@oe@2-2-2013
20686019@unknown@formal@none@1@S@Conservatives, embarrassed by Republican influence-peddling scandals at the Department of Housing and Urban Development, have used the issue in an effort to shift blame onto a Democratic-controlled Congress.@@@@1@28@@oe@2-2-2013
20686020@unknown@formal@none@1@S@HUD Secretary Jack Kemp backed an unsuccessful effort to strike such language last week, but received little support from the White House budget office, which wants to protect space-station funding in the bill and has tended to turn its eyes from pork-barrel amendments.@@@@1@43@@oe@2-2-2013
20686021@unknown@formal@none@1@S@Within discretionary funds for community development grants, more than $3.7 million is allocated to six projects in Michigan, home state of a subcommittee chairman, Rep. Bob Traxler.@@@@1@27@@oe@2-2-2013
20686022@unknown@formal@none@1@S@House Speaker Thomas Foley won $510,000 for a project in his district in Washington state, and $1.3 million, earmarked by Sen. Daniel Inouye, amounts to a business subsidy under the title "Hawaiian sugar mills job retention."@@@@1@36@@oe@2-2-2013
20686023@unknown@formal@none@1@S@The powerful Democrat had first wanted to add language relaxing environmental restrictions on two mills on the Hamakua coast that are threatening to close.@@@@1@24@@oe@2-2-2013
20686024@unknown@formal@none@1@S@When this plan met resistance, it was agreed instead to take money from HUD to subsidize needed improvements in two settling ponds for the mills, which employ an estimated 1,500 workers, according to Mr. Inouye's office.@@@@1@36@@oe@2-2-2013
20687001@unknown@formal@none@1@S@Dennis Farney's Oct. 13 page-one article "River of Despair," about the poverty along the Mississippi, fanned childhood memories of when my parents were sharecroppers in southeastern Arkansas, only a few miles from the river.@@@@1@34@@oe@2-2-2013
20687002@unknown@formal@none@1@S@Although we were white, the same economic factors affected us as affects the black people Mr. Farney writes about.@@@@1@19@@oe@2-2-2013
20687003@unknown@formal@none@1@S@Fortunately, an aunt with a college degree bought a small farm and moved us 50 miles north to good schools and an environment that opened the world of opportunity for me as an eight-year-old.@@@@1@34@@oe@2-2-2013
20687004@unknown@formal@none@1@S@Though I've been blessed with academic degrees and some success in the materialistic world, I've never forgotten or lost contact with those memories of the 1930s.@@@@1@26@@oe@2-2-2013
20687005@unknown@formal@none@1@S@Most of the land in that and other parts of the Delta are now owned by second, third or fourth generations of the same families.@@@@1@25@@oe@2-2-2013
20687006@unknown@formal@none@1@S@These are the families who used -- and sometime abused -- their sharecroppers, people who had no encouragement and little access to an education or training for a better life.@@@@1@30@@oe@2-2-2013
20687007@unknown@formal@none@1@S@Following World War II, when one family with mechanized equipment could farm crops formerly requiring 20 families, the surplus people were dumped into the mainstream of society with no Social Security, no skills in the workplace, no hope for their future except welfare.@@@@1@43@@oe@2-2-2013
20687008@unknown@formal@none@1@S@And today, many of their children, grandchildren and great-grandchildren remain on welfare.@@@@1@12@@oe@2-2-2013
20687009@unknown@formal@none@1@S@In the meantime, the landowners continue receiving generous subsidies that began during New Deal days.@@@@1@15@@oe@2-2-2013
20687010@unknown@formal@none@1@S@Or those who choose not to farm can lease their lands and crop allotments for handsome sums.@@@@1@17@@oe@2-2-2013
20687011@unknown@formal@none@1@S@Farmers in the Midwest and other areas have suffered, but those along the Mississippi continue to prosper with holdings that were built with the sweat of men and women living in economic slavery.@@@@1@33@@oe@2-2-2013
20687012@unknown@formal@none@1@S@And when they were no longer needed, they were turned loose unprepared to build lives of their own.@@@@1@18@@oe@2-2-2013
20687013@unknown@formal@none@1@S@Denton Harris@@@@1@2@@oe@2-2-2013
20687014@unknown@formal@none@1@S@Chairman@@@@1@1@@oe@2-2-2013
20687015@unknown@formal@none@1@S@Metro Bank@@@@1@2@@oe@2-2-2013
20687016@unknown@formal@none@1@S@Atlanta@@@@1@1@@oe@2-2-2013
20687017@unknown@formal@none@1@S@Because the cycle of poverty along the lower Mississippi goes back so many generations, breaking this cycle will be next to impossible.@@@@1@22@@oe@2-2-2013
20687018@unknown@formal@none@1@S@Sadly, the cycle appears not as waves but as a downward spiral.@@@@1@12@@oe@2-2-2013
20687019@unknown@formal@none@1@S@Yet the evidence that we have not hit bottom is found in the fact that we are not yet helping ourselves.@@@@1@21@@oe@2-2-2013
20687020@unknown@formal@none@1@S@The people of the Delta are waiting for that big factory to open, river traffic to increase, government spending to fund job-training programs or public schools to educate apathetic students.@@@@1@30@@oe@2-2-2013
20687021@unknown@formal@none@1@S@Because we refuse to face the tough answers, the questions continue as fodder for the commissions and committees, for the media and politicians.@@@@1@23@@oe@2-2-2013
20687022@unknown@formal@none@1@S@Coffee-shop chatter does not lend itself to solving the problems of racism, teen pregnancy or lack of parental support or guidance.@@@@1@21@@oe@2-2-2013
20687023@unknown@formal@none@1@S@Does the Delta deserve government help in attracting industry when the majority of residents, black and white, do not realize racism alienates potential employers?@@@@1@24@@oe@2-2-2013
20687024@unknown@formal@none@1@S@Should we focus on the region's infant-mortality rate when the vocal right-wingers and the school boards, mayors and legislators prohibit schools from teaching the two ways (abstinence or contraceptives) of decreasing teen pregnancy?@@@@1@33@@oe@2-2-2013
20687025@unknown@formal@none@1@S@Delta problems are difficult, not impossible, to solve -- I am just not convinced that we are ready to solve them yet.@@@@1@22@@oe@2-2-2013
20687026@unknown@formal@none@1@S@Leslie Falls Humphries@@@@1@3@@oe@2-2-2013
20687027@unknown@formal@none@1@S@Little Rock, Ark.@@@@1@3@@oe@2-2-2013
20687028@unknown@formal@none@1@S@I would like to issue a challenge to corporate America.@@@@1@10@@oe@2-2-2013
20687029@unknown@formal@none@1@S@The next time expansion plans are mentioned at the old company and somebody says, "Aw heck, guys, nobody can do it like Japan or South Korea," I wish you would butt in and say, "Hold it, fellas, why don't we compare prices and use our own little Third World country.@@@@1@50@@oe@2-2-2013
20687030@unknown@formal@none@1@S@We would even save on freight."@@@@1@6@@oe@2-2-2013
20687031@unknown@formal@none@1@S@There is no mystery why the Delta originated "Singin' the Blues."@@@@1@11@@oe@2-2-2013
20687032@unknown@formal@none@1@S@Eugene S. Clarke IV@@@@1@4@@oe@2-2-2013
20687033@unknown@formal@none@1@S@Hollandale, Miss.@@@@1@2@@oe@2-2-2013
20687034@unknown@formal@none@1@S@Your story is an insult to the citizens of the Mississippi Delta.@@@@1@12@@oe@2-2-2013
20687035@unknown@formal@none@1@S@Many of the problems you presented exist in every part of this country.@@@@1@13@@oe@2-2-2013
20687036@unknown@formal@none@1@S@Poverty is only two blocks from President Bush's residence.@@@@1@9@@oe@2-2-2013
20687037@unknown@formal@none@1@S@For years, we tried to ignore the problem of poverty, and now that it has gotten out of hand it's a new crusade for the media and our Democratic Congress.@@@@1@30@@oe@2-2-2013
20687038@unknown@formal@none@1@S@Nobody should have to live in such poor conditions as in "Sugar Ditch," but when you travel to Washington, Boston, Chicago or New York, the same problems exist.@@@@1@28@@oe@2-2-2013
20687039@unknown@formal@none@1@S@The only difference is, in those cities the poor are housed in high-rise-project apartments each consisting of one room, with rusty pipes called plumbing, rodents and cockroaches everywhere and nonworking elevators -- and with the building patrolled by gangs and drug dealers.@@@@1@42@@oe@2-2-2013
20687040@unknown@formal@none@1@S@Many middle-class people would love free food, Medicaid insurance, utilities and rent.@@@@1@12@@oe@2-2-2013
20687041@unknown@formal@none@1@S@Then maybe I could stay home and have seven children and watch Oprah Winfrey, like Beulah in the article, instead of having one child and working constantly just to stay above water, like so many families in this country.@@@@1@39@@oe@2-2-2013
20687042@unknown@formal@none@1@S@Dee Ann Wilson@@@@1@3@@oe@2-2-2013
20687043@unknown@formal@none@1@S@Greenville, Miss.@@@@1@2@@oe@2-2-2013
20688001@unknown@formal@none@1@S@Mobil Corp. is in the midst of cutting back its exploration and production group, which finds and develops oil and gas reserves in the U.S., by as much as 15% as part of a new restructuring of that sector of its business.@@@@1@42@@oe@2-2-2013
20688002@unknown@formal@none@1@S@Management advised employees Friday that it was going to reduce employment in production operations of the group by 8%, or 400 people.@@@@1@22@@oe@2-2-2013
20688003@unknown@formal@none@1@S@The exploration side of the unit has recently undergone a similar overhaul, during which it also lost as many as 400 employees, a company spokesman said in response to questions.@@@@1@30@@oe@2-2-2013
20688004@unknown@formal@none@1@S@Mobil Exploration & Producing U.S. Inc., the group involved, currently has a work force of somewhat less than 5,000.@@@@1@19@@oe@2-2-2013
20688005@unknown@formal@none@1@S@A few years ago, Mobil restructured the entire company during an industrywide shakeout.@@@@1@13@@oe@2-2-2013
20688006@unknown@formal@none@1@S@But since then U.S. oil production has declined and Mobil wants to focus its oil-finding efforts overseas.@@@@1@17@@oe@2-2-2013
20688007@unknown@formal@none@1@S@Mobil alluded to the work-force cuts last week when it took a $40 million charge as part of its third-quarter earnings and attributed it to a restructuring.@@@@1@27@@oe@2-2-2013
20688008@unknown@formal@none@1@S@Mobil officials said that it is unlikely any additional charges related to this move will be taken in future quarters.@@@@1@20@@oe@2-2-2013
20688009@unknown@formal@none@1@S@On Wednesday, Mobil will begin offering separation packages and voluntary retirement in its U.S. production operation.@@@@1@16@@oe@2-2-2013
20688010@unknown@formal@none@1@S@Mobil officials said they have been studying ways of streamlining these operations since early this year.@@@@1@16@@oe@2-2-2013
20688011@unknown@formal@none@1@S@During the coming months, layers of management will be peeled away and regional offices will become more autonomous.@@@@1@18@@oe@2-2-2013
20688012@unknown@formal@none@1@S@For greater efficiency, employees at those locations will be reorganized into teams responsible for managing the properties under their jurisdiction, Mobil said.@@@@1@22@@oe@2-2-2013
20688013@unknown@formal@none@1@S@"The main feature of the new organization is that each local manager will have both the authority and accountability for profitable and technically sound operations," said Charles E. Spruell, president of the Mobil unit.@@@@1@34@@oe@2-2-2013
20688014@unknown@formal@none@1@S@Field offices at New Orleans; Houston; Denver; Midland, Tex.; Bakersfield, Calif.; Oklahoma City; and Liberal, Kan., will be maintained.@@@@1@19@@oe@2-2-2013
20688015@unknown@formal@none@1@S@But the staffs at some of those locations will be slashed while at others the work force will be increased.@@@@1@20@@oe@2-2-2013
20688016@unknown@formal@none@1@S@For instance, employment in Denver will be reduced to 105 from 430.@@@@1@12@@oe@2-2-2013
20688017@unknown@formal@none@1@S@But on the West Coast, where profitable oil production is more likely than in the midcontinent region, the Bakersfield, Calif., office staff of 130 will grow by 175 to 305.@@@@1@30@@oe@2-2-2013
20688018@unknown@formal@none@1@S@The reorganization will "focus on the value and potential of assets," Mr. Spruell said.@@@@1@14@@oe@2-2-2013
20689001@unknown@formal@none@1@S@Wanted: An investment that's as simple and secure as a certificate of deposit but offers a return worth getting excited about.@@@@1@21@@oe@2-2-2013
20689002@unknown@formal@none@1@S@With $150 billion of CDs maturing this month, a lot of people have been scouring the financial landscape for just such an investment.@@@@1@23@@oe@2-2-2013
20689003@unknown@formal@none@1@S@In April, when many of them bought their CDs, six-month certificates were yielding more than 9%; investors willing to look could find double-digit yields at some banks and thrifts.@@@@1@29@@oe@2-2-2013
20689004@unknown@formal@none@1@S@Now, the nationwide average yield on a six-month CD is just under 8%, and 8.5% is about the best around.@@@@1@20@@oe@2-2-2013
20689005@unknown@formal@none@1@S@But investors looking for alternatives aren't finding it easy.@@@@1@9@@oe@2-2-2013
20689006@unknown@formal@none@1@S@Yields on most fixed-income securities are lower than several months ago.@@@@1@11@@oe@2-2-2013
20689007@unknown@formal@none@1@S@And the stock market's recent gyrations are a painful reminder of the dangers there.@@@@1@14@@oe@2-2-2013
20689008@unknown@formal@none@1@S@"If you're looking for a significantly higher yield with the same level of risk as a CD, you're not going to find it," says Washington financial planner Dennis M. Gurtz.@@@@1@30@@oe@2-2-2013
20689009@unknown@formal@none@1@S@There are, however, some alternatives that income-oriented investors should consider, investment advisers say.@@@@1@13@@oe@2-2-2013
20689010@unknown@formal@none@1@S@Short-term municipal bonds, bond funds and tax-deferred annuities are some of the choices they mention -- and not just as a way to get a higher return.@@@@1@27@@oe@2-2-2013
20689011@unknown@formal@none@1@S@In particular, advisers say, investors may want to look at securities that reduce the risk that CD holders are confronting right now, of having to reinvest the proceeds of maturing short-term certificates at lower rates.@@@@1@35@@oe@2-2-2013
20689012@unknown@formal@none@1@S@A mix of CDs and other holdings may make the most sense.@@@@1@12@@oe@2-2-2013
20689013@unknown@formal@none@1@S@"People should remember their money isn't all or nothing -- they don't need to be shopping for the one interest-rate-type investment and putting all their money in it," says Bethesda, Md., adviser Karen Schaeffer.@@@@1@34@@oe@2-2-2013
20689014@unknown@formal@none@1@S@Here's a look at some of the alternatives:@@@@1@8@@oe@2-2-2013
20689015@unknown@formal@none@1@S@SHORT-TERM MUNICIPALS:@@@@1@2@@oe@2-2-2013
20689016@unknown@formal@none@1@S@Investors with a heavy tax load should take out their calculators.@@@@1@11@@oe@2-2-2013
20689017@unknown@formal@none@1@S@Yields on municipal bonds can be higher than after-tax yields on CDs for maturities of perhaps one to five years.@@@@1@20@@oe@2-2-2013
20689018@unknown@formal@none@1@S@That's because municipal-bond interest is exempt from federal income tax -- and from state and local taxes too, for in-state investors.@@@@1@21@@oe@2-2-2013
20689019@unknown@formal@none@1@S@For an investor paying tax at a 33% rate, a seemingly puny 6% yield on a one-year muni is equivalent to a taxable 9%.@@@@1@24@@oe@2-2-2013
20689020@unknown@formal@none@1@S@Rates approach 6.5% on five-year municipals.@@@@1@6@@oe@2-2-2013
20689021@unknown@formal@none@1@S@Some of the more cautious CD holders might like "pre-refunded" municipals.@@@@1@11@@oe@2-2-2013
20689022@unknown@formal@none@1@S@These securities get top credit ratings because the issuers have put aside U.S. bonds that will be sold to pay off holders when the municipals are retired.@@@@1@27@@oe@2-2-2013
20689023@unknown@formal@none@1@S@"It's a no-brainer: You don't have to worry about diversification; you don't have to worry about quality," says Steven J. Hueglin, executive vice president of the New York bond firm of Gabriele, Hueglin & Cashman Inc.@@@@1@36@@oe@2-2-2013
20689024@unknown@formal@none@1@S@Consider a "laddered" bond portfolio, with issues maturing in, say, 1992, 1993 and 1994, advises Malcolm A. Makin, a Westerly, R.I., financial planner.@@@@1@23@@oe@2-2-2013
20689025@unknown@formal@none@1@S@The idea is to have money rolling over each year at prevailing interest rates.@@@@1@14@@oe@2-2-2013
20689026@unknown@formal@none@1@S@BOND FUNDS:@@@@1@2@@oe@2-2-2013
20689027@unknown@formal@none@1@S@Bond mutual funds offer diversification and are easy to buy and sell.@@@@1@12@@oe@2-2-2013
20689028@unknown@formal@none@1@S@That makes them a reasonable option for investors who will accept some risk of price fluctuation in order to make a bet that interest rates will decline over the next year or so.@@@@1@33@@oe@2-2-2013
20689029@unknown@formal@none@1@S@Buyers can look forward to double-digit annual returns if they are right.@@@@1@12@@oe@2-2-2013
20689030@unknown@formal@none@1@S@But they will have disappointing returns or even losses if interest rates rise instead.@@@@1@14@@oe@2-2-2013
20689031@unknown@formal@none@1@S@Bond resale prices, and thus fund share prices, move in the opposite direction from rates.@@@@1@15@@oe@2-2-2013
20689032@unknown@formal@none@1@S@The price movements get bigger as the maturity of the securities lengthens.@@@@1@12@@oe@2-2-2013
20689033@unknown@formal@none@1@S@Consider, for instance, two bond funds from Vanguard Group of Investment Cos. that were both yielding 8.6% on a recent day.@@@@1@21@@oe@2-2-2013
20689034@unknown@formal@none@1@S@The Short Term Bond Fund, with an average maturity of 2 1/2 years, would deliver a total return for one year of about 10.6% if rates drop one percentage point and a one-year return of about 6.6% if rates rise by the same amount.@@@@1@44@@oe@2-2-2013
20689035@unknown@formal@none@1@S@But, in the same circumstances, the returns would be a more extreme 14.6% and 2.6% for the Vanguard Bond Market Fund, with its 12 1/2-year average maturity.@@@@1@27@@oe@2-2-2013
20689036@unknown@formal@none@1@S@"You get equity-like returns" from bonds if you guess right on rates, says James E. Wilson, a Columbia, S.C., planner.@@@@1@20@@oe@2-2-2013
20689037@unknown@formal@none@1@S@If interest rates don't change, bond fund investors' returns will be about equal to the funds' current yields.@@@@1@18@@oe@2-2-2013
20689038@unknown@formal@none@1@S@DEFERRED ANNUITIES:@@@@1@2@@oe@2-2-2013
20689039@unknown@formal@none@1@S@These insurance company contracts feature some of the same tax benefits and restrictions as non-deductible individual retirement accounts: Investment gains are compounded without tax consequences until money is withdrawn, but a 10% penalty tax is imposed on withdrawals made before age 59 1/2.@@@@1@43@@oe@2-2-2013
20689040@unknown@formal@none@1@S@Aimed specifically at CD holders are so-called CD-type annuities, or certificates of annuity.@@@@1@13@@oe@2-2-2013
20689041@unknown@formal@none@1@S@An interest rate is guaranteed for between one and seven years, after which holders get 30 days to choose another guarantee period or to switch to another insurer's contract without the surrender charges that are common to annuities.@@@@1@38@@oe@2-2-2013
20689042@unknown@formal@none@1@S@Some current rates exceed those on CDs.@@@@1@7@@oe@2-2-2013
20689043@unknown@formal@none@1@S@For instance, a CD-type annuity from North American Co. for Life & Health Insurance, Chicago, offers 8.8% interest for one year or a 9% rate for two years.@@@@1@28@@oe@2-2-2013
20689044@unknown@formal@none@1@S@Annuities are rarely a good idea at age 35 because of the withdrawal restrictions.@@@@1@14@@oe@2-2-2013
20689045@unknown@formal@none@1@S@But at age 55, "they may be a great deal," says Mr. Wilson, the Columbia, S.C., planner.@@@@1@17@@oe@2-2-2013
20689046@unknown@formal@none@1@S@MONEY MARKET FUNDS:@@@@1@3@@oe@2-2-2013
20689047@unknown@formal@none@1@S@That's right, money market mutual funds.@@@@1@6@@oe@2-2-2013
20689048@unknown@formal@none@1@S@The conventional wisdom is to go into money funds when rates are rising and shift out at times such as the present, when rates seem headed down.@@@@1@27@@oe@2-2-2013
20689049@unknown@formal@none@1@S@With average maturities of a month or so, money funds offer fixed share prices and floating returns that track market interest rates, with a slight lag.@@@@1@26@@oe@2-2-2013
20689050@unknown@formal@none@1@S@Still, today's highest-yielding money funds may beat CDs over the next year even if rates fall, says Guy Witman, an editor of the Bond Market Advisor newsletter in Atlanta.@@@@1@29@@oe@2-2-2013
20689051@unknown@formal@none@1@S@That's because top-yielding funds currently offer yields almost 1 1/2 percentage points above the average CD yield.@@@@1@17@@oe@2-2-2013
20689052@unknown@formal@none@1@S@Mr. Witman likes the Dreyfus Worldwide Dollar Money Market Fund, with a seven-day compound yield just under 9.5%.@@@@1@18@@oe@2-2-2013
20689053@unknown@formal@none@1@S@A new fund, its operating expenses are being temporarily subsidized by the sponsor.@@@@1@13@@oe@2-2-2013
20689054@unknown@formal@none@1@S@Try combining a money fund and an intermediate-term bond fund as a low-risk bet on falling rates, suggests Back Bay Advisors Inc., a mutual fund unit of New England Insurance Co.@@@@1@31@@oe@2-2-2013
20689055@unknown@formal@none@1@S@If rates unexpectedly rise, the increasing return on the money fund will partly offset the lower-than-expected return from the bond fund.@@@@1@21@@oe@2-2-2013
20690001@unknown@formal@none@1@S@Federal drug regulators, concerned over British reports that diabetics have died after shifting from animal to human-based insulin, say they are considering a study to see if similar deaths have occurred here.@@@@1@32@@oe@2-2-2013
20690002@unknown@formal@none@1@S@The United Kingdom reports came from Dr. Patrick Toseland, head of clinical chemistry at Guy's Hospital in London.@@@@1@18@@oe@2-2-2013
20690003@unknown@formal@none@1@S@In a telephone interview Friday, Dr. Toseland said the number of sudden, unexplained deaths of diabetics he had seen this year was 17 compared with just two in 1985.@@@@1@29@@oe@2-2-2013
20690004@unknown@formal@none@1@S@At least six of the deaths occurred among relatively young diabetics who had switched from animal to human insulin within the past year, he said.@@@@1@25@@oe@2-2-2013
20690005@unknown@formal@none@1@S@Dr. Solomon Sobel, director of metabolism and endrocrine drug products for the U.S. Food and Drug Administration, said FDA officials have discussed Dr. Toseland's findings "fairly intensively."@@@@1@27@@oe@2-2-2013
20690006@unknown@formal@none@1@S@While there have been no reports of similar sudden unexplained deaths among diabetics in the U.S., Dr. Sobel said the FDA plans to examine Dr. Toseland's evidence and is considering its own study here.@@@@1@34@@oe@2-2-2013
20690007@unknown@formal@none@1@S@Dr. Toseland, a toxicologist, said he was preparing an article for a British forensic medical journal raising the possibility that the deaths may have occurred after human insulin blunted critical warning signs indicating hypoglycemia, or low blood sugar, which can kill diabetics.@@@@1@42@@oe@2-2-2013
20690008@unknown@formal@none@1@S@The usual warning signs of hypoglycemia include sweating, anxiety and cramps.@@@@1@11@@oe@2-2-2013
20690009@unknown@formal@none@1@S@With proper warning, diabetics can easily raise their blood sugar to safe levels by eating sugar or sugary food.@@@@1@19@@oe@2-2-2013
20690010@unknown@formal@none@1@S@"The anecdotal data certainly shows that some of the people were not aware of the rapid onset of hypoglycemia," Dr. Toseland said.@@@@1@22@@oe@2-2-2013
20690011@unknown@formal@none@1@S@At the U.S. National Institutes of Health, Dr. Robert E. Silverman, chief of the diabetes program branch, said no evidence of unexpected deaths from hypoglycemia had shown up in a study of 1,500 diabetics that has been under way at NIH for five years.@@@@1@44@@oe@2-2-2013
20690012@unknown@formal@none@1@S@However, he said officials conducting the study hadn't been looking for signs of problems related to hypoglycemia unawareness.@@@@1@18@@oe@2-2-2013
20690013@unknown@formal@none@1@S@"We are now monitoring for it much more closely," he said.@@@@1@11@@oe@2-2-2013
20690014@unknown@formal@none@1@S@"We do know there are slight differences in the way human and animal insulins drive down blood sugar," Dr. Sobel said.@@@@1@21@@oe@2-2-2013
20690015@unknown@formal@none@1@S@The human-based drug starts the blood sugar dropping sooner and drives it down faster, he said.@@@@1@16@@oe@2-2-2013
20690016@unknown@formal@none@1@S@"But we don't believe there is enough of a difference to be clinically significant," Dr. Sobel said.@@@@1@17@@oe@2-2-2013
20690017@unknown@formal@none@1@S@Reports of Dr. Toseland's findings in the British press have triggered widespread concern among diabetics there.@@@@1@16@@oe@2-2-2013
20690018@unknown@formal@none@1@S@Both the British Diabetic Association and the Committee on Safety in Medicines -- Britain's equivalent of the U.S. FDA -- recently issued statements noting the lack of hard scientific evidence to support Dr. Toseland's findings.@@@@1@35@@oe@2-2-2013
20690019@unknown@formal@none@1@S@On Friday, the American Diabetes Association issued a similar statement urging the six million U.S. diabetics not to overreact to the British report.@@@@1@23@@oe@2-2-2013
20690020@unknown@formal@none@1@S@"A loss of the warning symptoms of hypoglycemia is a complex problem that is very unlikely to be due simply to the type of insulin used," the American association said.@@@@1@30@@oe@2-2-2013
20690021@unknown@formal@none@1@S@The FDA already requires drug manufacturers to include warnings with insulin products that symptoms of hypoglycemia are less pronounced with human insulin than with animal-based products.@@@@1@26@@oe@2-2-2013
20690022@unknown@formal@none@1@S@Eli Lilly & Co., the Indianapolis-based drug manufacturer, dominates the U.S. human insulin market with its product known as Humulin.@@@@1@20@@oe@2-2-2013
20690023@unknown@formal@none@1@S@Lilly is building plants to make the insulin in Indianapolis and Fagershein, France.@@@@1@13@@oe@2-2-2013
20690024@unknown@formal@none@1@S@In its latest annual report, Lilly said Humulin sales have shown "excellent growth."@@@@1@13@@oe@2-2-2013
20690025@unknown@formal@none@1@S@Lilly officials said they had seen reports of hypoglycemic unawareness among some patients making the shift from animal to human insulin, but didn't know if the problem had caused any deaths.@@@@1@31@@oe@2-2-2013
20690026@unknown@formal@none@1@S@Dr. Leigh Thompson, a Lilly group vice president, said the company's clinical trials of both its animal and human-based insulins indicated no difference in the level of hypoglycemia between users of either product.@@@@1@33@@oe@2-2-2013
20690027@unknown@formal@none@1@S@Dr. Toseland said most of the British diabetics who died had been taking a human-based insulin made by Novo/Nordisk, a Danish manufacturer.@@@@1@22@@oe@2-2-2013
20690028@unknown@formal@none@1@S@None of the diabetics were using Lilly's insulin.@@@@1@8@@oe@2-2-2013
20691001@unknown@formal@none@1@S@SharesBase Corp. said it will reduce its 221-person work force by about 25%, effective tomorrow, in an effort to stem continuing losses.@@@@1@22@@oe@2-2-2013
20691002@unknown@formal@none@1@S@The company, which makes data base systems and software, said it expects to report a loss for the third quarter ended Sept. 30.@@@@1@23@@oe@2-2-2013
20692001@unknown@formal@none@1@S@Defense intellectuals have complained for years that the Pentagon cannot determine priorities because it has no strategy.@@@@1@17@@oe@2-2-2013
20692002@unknown@formal@none@1@S@Last April, the new defense secretary, Richard Cheney, acknowledged that, "given an ideal world, we'd have a nice, neat, orderly process.@@@@1@21@@oe@2-2-2013
20692003@unknown@formal@none@1@S@We'd do the strategy and then we'd come around and do the budget.@@@@1@13@@oe@2-2-2013
20692004@unknown@formal@none@1@S@This city doesn't work that way."@@@@1@6@@oe@2-2-2013
20692005@unknown@formal@none@1@S@With a five-year defense plan costing more than $1.6 trillion, it's about time we put together a defense strategy that works in Washington.@@@@1@23@@oe@2-2-2013
20692006@unknown@formal@none@1@S@This won't happen until strategists come down from their ivory tower and learn to work in the real world of limited budgets and uncertain futures.@@@@1@25@@oe@2-2-2013
20692007@unknown@formal@none@1@S@As it is, we identify national goals and the threats to these goals, we shape a strategy to counter these threats, we determine the forces needed to execute the strategy, before finally forging the budgets needed to build and maintain the forces.@@@@1@42@@oe@2-2-2013
20692008@unknown@formal@none@1@S@These procedures consume millions of man-hours of labor and produce tons of paper, and each year, their end product -- the Five Year Defense Plan -- promptly melts away.@@@@1@29@@oe@2-2-2013
20692009@unknown@formal@none@1@S@The graph on the left shows how this happens (see accompanying illustration -- WSJ Oct. 30, 1989).@@@@1@17@@oe@2-2-2013
20692010@unknown@formal@none@1@S@Compare the past eight five-year plans with actual appropriations.@@@@1@9@@oe@2-2-2013
20692011@unknown@formal@none@1@S@The Pentagon's strategists produce budgets that simply cannot be executed because they assume a defense strategy depends only on goals and threats.@@@@1@22@@oe@2-2-2013
20692012@unknown@formal@none@1@S@Strategy, however, is about possibilities, not hopes and dreams.@@@@1@9@@oe@2-2-2013
20692013@unknown@formal@none@1@S@By ignoring costs, U.S. strategists abdicate their responsibility for hard decisions.@@@@1@11@@oe@2-2-2013
20692014@unknown@formal@none@1@S@That puts the real strategic decisions in the hands of others: bean counters, budgeteers, and pork-barrelers.@@@@1@16@@oe@2-2-2013
20692015@unknown@formal@none@1@S@These people have different agendas.@@@@1@5@@oe@2-2-2013
20692016@unknown@formal@none@1@S@And as a result -- as the recent vote by the House to undo Mr. Cheney's program terminations suggests -- the preservation of jobs is becoming the real goal of defense "strategy."@@@@1@32@@oe@2-2-2013
20692017@unknown@formal@none@1@S@How can we turn this situation around?@@@@1@7@@oe@2-2-2013
20692018@unknown@formal@none@1@S@Reform starts in the Pentagon.@@@@1@5@@oe@2-2-2013
20692019@unknown@formal@none@1@S@Strategists should consider the impact of budget uncertainties at the beginning of the planning process.@@@@1@15@@oe@2-2-2013
20692020@unknown@formal@none@1@S@They ought to examine how a range of optimistic to pessimistic budget scenarios would change the defense program.@@@@1@18@@oe@2-2-2013
20692021@unknown@formal@none@1@S@They would then develop priorities by identifying the least painful program cuts as they moved from higher to lower budgets.@@@@1@20@@oe@2-2-2013
20692022@unknown@formal@none@1@S@They would also identify the best way to add programs, should the budget come in at higher levels.@@@@1@18@@oe@2-2-2013
20692023@unknown@formal@none@1@S@This kind of contingency analysis is common in war planning and business planning.@@@@1@13@@oe@2-2-2013
20692024@unknown@formal@none@1@S@There is no reason that it can not be done for defense planning.@@@@1@13@@oe@2-2-2013
20692025@unknown@formal@none@1@S@Two steps are necessary to translate this idea into action.@@@@1@10@@oe@2-2-2013
20692026@unknown@formal@none@1@S@Step 1 cleans up our books.@@@@1@6@@oe@2-2-2013
20692027@unknown@formal@none@1@S@Our five-year plan contains three accounting devices -- negative money, an above guidance management reserve and optimistic inflation estimates -- which understate the spending the Pentagon has committed itself to by almost $100 billion.@@@@1@34@@oe@2-2-2013
20692028@unknown@formal@none@1@S@Negative money was invented in 1988 to make the 1990-94 Five Year Defense Plan conform to the numbers in President Reagan's final budget submission to Congress.@@@@1@26@@oe@2-2-2013
20692029@unknown@formal@none@1@S@That plan exceeded the numbers contained in his budget message by $45 billion.@@@@1@13@@oe@2-2-2013
20692030@unknown@formal@none@1@S@To make the books balance, as is required by law, somebody invented a new budget line item that simply subtracted $45 billion.@@@@1@22@@oe@2-2-2013
20692031@unknown@formal@none@1@S@It is known in the Pentagon as the "negative wedge."@@@@1@10@@oe@2-2-2013
20692032@unknown@formal@none@1@S@The Pentagon argues that the negative wedge is the net effect of $22 billion in the as-yet unidentified procurement reductions that it intends to find in future years and $23 billion in an "above guidance" management reserve that accounts for undefined programs that will materialize in the future.@@@@1@48@@oe@2-2-2013
20692033@unknown@formal@none@1@S@The 1990 plan also assumes inflation will decline to 1.7% by 1994.@@@@1@12@@oe@2-2-2013
20692034@unknown@formal@none@1@S@Most forecasters, including those in the Congressional Budget Office, assume inflation will be in excess of 4% in each of those five years.@@@@1@23@@oe@2-2-2013
20692035@unknown@formal@none@1@S@At that rate, the defense plan is underfunded by $48 billion.@@@@1@11@@oe@2-2-2013
20692036@unknown@formal@none@1@S@By adding the negative wedge and recalculating the remaining program using a more probable inflation estimate, we arrive at a baseline program costing $1.7 trillion between 1990 and 1994.@@@@1@29@@oe@2-2-2013
20692037@unknown@formal@none@1@S@Step 2 examines how four progressively lower budget scenarios would change the baseline and how these changes would affect our national security.@@@@1@22@@oe@2-2-2013
20692038@unknown@formal@none@1@S@The graph on the right (which assumes a 4% rate of inflation), places these scenarios in the context of recent appropriations (see accompanying illustration -- WSJ Oct. 30, 1989).@@@@1@29@@oe@2-2-2013
20692039@unknown@formal@none@1@S@Note how the baseline program assumes a sharp increase in future appropriations.@@@@1@12@@oe@2-2-2013
20692040@unknown@formal@none@1@S@Step 2 will answer the question: What happens if these increases do not materialize?@@@@1@14@@oe@2-2-2013
20692041@unknown@formal@none@1@S@Scenario 1, known as the "Constant Dollar Freeze," reimburses the Pentagon for inflation only -- it slopes upward at 4% per year.@@@@1@22@@oe@2-2-2013
20692042@unknown@formal@none@1@S@This scenario has been the rough position of the U.S. Senate since 1985, and it reduces the baseline by $106 billion between 1990 and 1994.@@@@1@25@@oe@2-2-2013
20692043@unknown@formal@none@1@S@Scenario 3, the "Current Dollar Freeze," has been the approximate position of the House of Representatives for about four years.@@@@1@20@@oe@2-2-2013
20692044@unknown@formal@none@1@S@It freezes the budget at its current level, and forces the Pentagon to eat the effects of inflation until 1994.@@@@1@20@@oe@2-2-2013
20692045@unknown@formal@none@1@S@This reduces the baseline by $229 billion.@@@@1@7@@oe@2-2-2013
20692046@unknown@formal@none@1@S@Scenario 2 extends the recent compromises between the House and the Senate; it splits the difference between Scenarios 1 and 3, by increasing the budget at 2% per year.@@@@1@29@@oe@2-2-2013
20692047@unknown@formal@none@1@S@It reduces the baseline by $169 billion.@@@@1@7@@oe@2-2-2013
20692048@unknown@formal@none@1@S@Finally, Scenario 4 reduces the budget by 2% per year for the next five years -- a total reduction of $287 billion.@@@@1@22@@oe@2-2-2013
20692049@unknown@formal@none@1@S@This can be thought of as a pessimistic prediction, perhaps driven by the sequestering effects of the Gramm-Rudman deficit reduction law or possibly a relaxation of tensions with the Soviet Union.@@@@1@31@@oe@2-2-2013
20692050@unknown@formal@none@1@S@The strategic planners in the Joint Chiefs of Staff would construct the most effective defense program for each scenario, maximizing strengths and minimizing weaknesses.@@@@1@24@@oe@2-2-2013
20692051@unknown@formal@none@1@S@They would conclude their efforts by producing a comprehensive net assessment for each plan -- including the assumptions made, an analysis of its deficiencies and limitations, the impact on national security, and the best strategy for working around these limitations.@@@@1@40@@oe@2-2-2013
20692052@unknown@formal@none@1@S@This exercise would reveal the true cost of a particular program by forcing the strategists to make hard decisions.@@@@1@19@@oe@2-2-2013
20692053@unknown@formal@none@1@S@If, for example, they choose to keep the B-2 Stealth bomber, they would have to sacrifice more and more other programs -- such as carrier battlegroups or army divisions -- as they moved toward lower budget levels.@@@@1@37@@oe@2-2-2013
20692054@unknown@formal@none@1@S@These trade-offs would evolve priorities by revealing when the cost of the B-2 became prohibitive.@@@@1@15@@oe@2-2-2013
20692055@unknown@formal@none@1@S@Some may be tempted to argue that the idea of a strategic review merely resurrects the infamous Zero-Based Budgeting (ZBB) concept of the Carter administration.@@@@1@25@@oe@2-2-2013
20692056@unknown@formal@none@1@S@But ZBB did not involve the strategic planners in the Joint Chiefs of Staff, and therefore degenerated into a bean-counting drill driven by budget politics.@@@@1@25@@oe@2-2-2013
20692057@unknown@formal@none@1@S@Anyway, ZBB's procedures were so cumbersome that everyone involved was crushed under a burden of marginalia.@@@@1@16@@oe@2-2-2013
20692058@unknown@formal@none@1@S@A strategic review is fundamentally different.@@@@1@6@@oe@2-2-2013
20692059@unknown@formal@none@1@S@It would be run by the joint chiefs under simple directions: Produce the best possible force for each budget scenario and provide the Secretary of Defense with a comprehensive net assessment of how that force could be used to achieve U.S. goals.@@@@1@42@@oe@2-2-2013
20692060@unknown@formal@none@1@S@It might be feared that even thinking about lower budgets will hurt national security because the door will be opened to opportunistic budget cutting by an irresponsible Congress.@@@@1@28@@oe@2-2-2013
20692061@unknown@formal@none@1@S@This argument plays well in the atmosphere of gaming and mistrust permeating the Pentagon and Congress, and unfortunately, there is some truth to it.@@@@1@24@@oe@2-2-2013
20692062@unknown@formal@none@1@S@But in the end, it must be rejected for logical as well as moral reasons.@@@@1@15@@oe@2-2-2013
20692063@unknown@formal@none@1@S@To say that the Pentagon should act irresponsibly because acting responsibly will provoke Congress into acting irresponsibly leads to the conclusion that the Pentagon should deliberately exaggerate its needs in the national interest; in other words, that it is justified in committing a crime -- lying to Congress -- because it is morally superior.@@@@1@54@@oe@2-2-2013
20692064@unknown@formal@none@1@S@Strategy is not a game between the Pentagon and Congress; it is the art of the possible in a world where constraints force us to choose between unpleasant or imperfect alternatives.@@@@1@31@@oe@2-2-2013
20692065@unknown@formal@none@1@S@If we want meaningful priorities, we must understand the trade-offs they imply before we make commitments.@@@@1@16@@oe@2-2-2013
20692066@unknown@formal@none@1@S@Strategy is not a separate event in an idealized sequence of discrete events; it is a way of thinking that neutralizes threats to our interests in a manner consistent with our financial, cultural and physical limitations.@@@@1@36@@oe@2-2-2013
20692067@unknown@formal@none@1@S@Mr. Spinney is a permanent Pentagon official.@@@@1@7@@oe@2-2-2013
20692068@unknown@formal@none@1@S@This is a condensed version of an essay that will appear in the January issue of the Naval Institute Proceedings.@@@@1@20@@oe@2-2-2013
20692069@unknown@formal@none@1@S@The views expressed do not reflect the official policy of the Department of Defense.@@@@1@14@@oe@2-2-2013
20693001@unknown@formal@none@1@S@Although bullish dollar sentiment has fizzled, many currency analysts say a massive sell-off probably won't occur in the near future.@@@@1@20@@oe@2-2-2013
20693002@unknown@formal@none@1@S@While Wall Street's tough times and lower U.S. interest rates continue to undermine the dollar, weakness in the pound and the yen is expected to offset those factors.@@@@1@28@@oe@2-2-2013
20693003@unknown@formal@none@1@S@"By default," the dollar probably will be able to hold up pretty well in coming days, says Francoise Soares-Kemp, a foreign-exchange adviser at Credit Suisse.@@@@1@25@@oe@2-2-2013
20693004@unknown@formal@none@1@S@"We're close to the bottom" of the near-term ranges, she contends.@@@@1@11@@oe@2-2-2013
20693005@unknown@formal@none@1@S@In late Friday afternoon New York trading, the dollar was at 1.8300 marks and 141.65 yen, off from late Thursday's 1.8400 marks and 142.10 yen.@@@@1@25@@oe@2-2-2013
20693006@unknown@formal@none@1@S@The pound strengthened to $1.5795 from $1.5765.@@@@1@7@@oe@2-2-2013
20693007@unknown@formal@none@1@S@In Tokyo Monday, the U.S. currency opened for trading at 141.70 yen, down from Friday's Tokyo close of 142.75 yen.@@@@1@20@@oe@2-2-2013
20693008@unknown@formal@none@1@S@The dollar began Friday on a firm note, gaining against all major currencies in Tokyo dealings and early European trading despite reports that the Bank of Japan was seen unloading dollars around 142.70 yen.@@@@1@34@@oe@2-2-2013
20693009@unknown@formal@none@1@S@The rise came as traders continued to dump the pound after the sudden resignation Thursday of British Chancellor of the Exchequer Nigel Lawson.@@@@1@23@@oe@2-2-2013
20693010@unknown@formal@none@1@S@But once the pound steadied with help from purchases by the Bank of England and the Federal Reserve Bank of New York, the dollar was dragged down, traders say, by the stock-market slump that left the Dow Jones Industrial Average with a loss of 17.01 points.@@@@1@46@@oe@2-2-2013
20693011@unknown@formal@none@1@S@With the stock market wobbly and dollar buyers discouraged by signs of U.S. economic weakness and the recent decline in U.S. interest rates that has diminished the attractiveness of dollar-denominated investments, traders say the dollar is still in a precarious position.@@@@1@41@@oe@2-2-2013
20693012@unknown@formal@none@1@S@"They'll be looking at levels to sell the dollar," says James Scalfaro, a foreign-exchange marketing representative at Bank of Montreal.@@@@1@20@@oe@2-2-2013
20693013@unknown@formal@none@1@S@While some analysts say the dollar eventually could test support at 1.75 marks and 135 yen, Mr. Scalfaro and others don't see the currency decisively sliding under support at 1.80 marks and 140 yen soon.@@@@1@35@@oe@2-2-2013
20693014@unknown@formal@none@1@S@Predictions for limited dollar losses are based largely on the pound's weak state after Mr. Lawson's resignation and the yen's inability to strengthen substantially when there are dollar retreats.@@@@1@29@@oe@2-2-2013
20693015@unknown@formal@none@1@S@With the pound and the yen lagging behind other major currencies, "you don't have a confirmation" that a sharp dollar downturn is in the works, says Mike Malpede, senior currency analyst at Refco Inc. in Chicago.@@@@1@36@@oe@2-2-2013
20693016@unknown@formal@none@1@S@As far as the pound goes, some traders say a slide toward support at $1.5500 may be a favorable development for the dollar this week.@@@@1@25@@oe@2-2-2013
20693017@unknown@formal@none@1@S@While the pound has attempted to stabilize, currency analysts say it is in critical condition.@@@@1@15@@oe@2-2-2013
20693018@unknown@formal@none@1@S@Sterling plunged about four cents Thursday and hit the week's low of $1.5765 when Mr. Lawson resigned from his six-year post because of a policy squabble with other cabinet members.@@@@1@30@@oe@2-2-2013
20693019@unknown@formal@none@1@S@He was succeeded by John Major, who Friday expressed a desire for a firm pound and supported the relatively high British interest rates that he said "are working exactly as intended" in reducing inflation.@@@@1@34@@oe@2-2-2013
20693020@unknown@formal@none@1@S@But the market remains uneasy about Mr. Major's policy strategy and the prospects for the pound, currency analysts contend.@@@@1@19@@oe@2-2-2013
20693021@unknown@formal@none@1@S@Although the Bank of England's tight monetary policy has fueled worries that Britain's slowing economy is headed for a recession, it is widely believed that Mr. Lawson's willingness to prop up the pound with interest-rate increases helped stem pound selling in recent weeks.@@@@1@43@@oe@2-2-2013
20693022@unknown@formal@none@1@S@If there are any signs that Mr. Major will be less inclined to use interest-rate boosts to rescue the pound from another plunge, that currency is expected to fall sharply.@@@@1@30@@oe@2-2-2013
20693023@unknown@formal@none@1@S@"It's fair to say there are more risks for the pound under Major than there were under Lawson," says Malcolm Roberts, a director of international bond market research at Salomon Brothers in London.@@@@1@33@@oe@2-2-2013
20693024@unknown@formal@none@1@S@"There's very little upside to sterling," Mr. Roberts says, but he adds that near-term losses may be small because the selling wave that followed Mr. Major's appointment apparently has run its course.@@@@1@32@@oe@2-2-2013
20693025@unknown@formal@none@1@S@But some other analysts have a stormier forecast for the pound, particularly because Britain's inflation is hovering at a relatively lofty annual rate of about 7.6% and the nation is burdened with a struggling government and large current account and trade deficits.@@@@1@42@@oe@2-2-2013
20693026@unknown@formal@none@1@S@The pound likely will fall in coming days and may trade as low as 2.60 marks within the next year, says Nigel Rendell, an international economist at James Capel & Co. in London.@@@@1@33@@oe@2-2-2013
20693027@unknown@formal@none@1@S@The pound was at 2.8896 marks late Friday, off sharply from 2.9511 in New York trading a week earlier.@@@@1@19@@oe@2-2-2013
20693028@unknown@formal@none@1@S@If the pound falls closer to 2.80 marks, the Bank of England may raise Britain's base lending rate by one percentage point to 16%, says Mr. Rendell.@@@@1@27@@oe@2-2-2013
20693029@unknown@formal@none@1@S@But such an increase, he says, could be viewed by the market as "too little too late."@@@@1@17@@oe@2-2-2013
20693030@unknown@formal@none@1@S@The Bank of England indicated its desire to leave its monetary policy unchanged Friday by declining to raise the official 15% discount-borrowing rate that it charges discount houses, analysts say.@@@@1@30@@oe@2-2-2013
20693031@unknown@formal@none@1@S@Pound concerns aside, the lack of strong buying interest in the yen is another boon for the dollar, many traders say.@@@@1@21@@oe@2-2-2013
20693032@unknown@formal@none@1@S@The dollar has a "natural base of support" around 140 yen because the Japanese currency hasn't been purchased heavily in recent weeks, says Ms. Soares-Kemp of Credit Suisse.@@@@1@28@@oe@2-2-2013
20693033@unknown@formal@none@1@S@The yen's softness, she says, apparently stems from Japanese investors' interest in buying dollars against the yen to purchase U.S. bond issues and persistent worries about this year's upheaval in the Japanese government.@@@@1@33@@oe@2-2-2013
20693034@unknown@formal@none@1@S@On New York's Commodity Exchange Friday, gold for current delivery jumped $5.80, to $378.30 an ounce, the highest settlement since July 12.@@@@1@22@@oe@2-2-2013
20693035@unknown@formal@none@1@S@Estimated volume was a heavy seven million ounces.@@@@1@8@@oe@2-2-2013
20693036@unknown@formal@none@1@S@In early trading in Hong Kong Monday, gold was quoted at $378.87 an ounce.@@@@1@14@@oe@2-2-2013
20694001@unknown@formal@none@1@S@We are deeply disturbed that a recent editorial stated that the "Americans With Disabilities Act of 1989" was "crafted primarily by Democratic Senators Kennedy and Harkin" with a premise "based on the presumption that most Americans are hostile to the disabled. . . ."@@@@1@44@@oe@2-2-2013
20694002@unknown@formal@none@1@S@Perhaps even more offensive is the statement, "It is surprising that George Bush and the White House inner circle would ally themselves with this crabby philosophy."@@@@1@26@@oe@2-2-2013
20694003@unknown@formal@none@1@S@This legislation was not drafted by a handful of Democratic "do-gooders."@@@@1@11@@oe@2-2-2013
20694004@unknown@formal@none@1@S@Quite the contrary -- it results from years of work by members of the National Council on the Handicapped, all appointed by President Reagan.@@@@1@24@@oe@2-2-2013
20694005@unknown@formal@none@1@S@You depict the bill as something Democratic leaders "hoodwinked" the administration into endorsing.@@@@1@13@@oe@2-2-2013
20694006@unknown@formal@none@1@S@The opposite is true: It's the product of many meetings with administration officials, Senate staffers, advocates, and business and transportation officials.@@@@1@21@@oe@2-2-2013
20694007@unknown@formal@none@1@S@Many congressmen are citing the compromise on the "Americans With Disabilities Act of 1989" as a model for bipartisan deliberations.@@@@1@20@@oe@2-2-2013
20694008@unknown@formal@none@1@S@Most National Council members are themselves disabled or are parents of children with disabilities.@@@@1@14@@oe@2-2-2013
20694009@unknown@formal@none@1@S@We know firsthand the discrimination addressed by the act: to be told there's no place for your child in school; to spend lonely hours at home because there is no transportation for someone in a wheelchair; to be denied employment because you are disabled.@@@@1@44@@oe@2-2-2013
20694010@unknown@formal@none@1@S@Your editorial mockingly entitles this legislation the "Lawyers' Employment Act."@@@@1@10@@oe@2-2-2013
20694011@unknown@formal@none@1@S@For the 43 million people with disabilities and their families, this legislation is the "Emancipation Proclamation."@@@@1@16@@oe@2-2-2013
20694012@unknown@formal@none@1@S@Sandra Swift Parrino@@@@1@3@@oe@2-2-2013
20694013@unknown@formal@none@1@S@Chairperson@@@@1@1@@oe@2-2-2013
20694014@unknown@formal@none@1@S@National Council on the Handicapped@@@@1@5@@oe@2-2-2013
20695001@unknown@formal@none@1@S@A group of investors led by Giant Group Ltd. and its chairman, Burt Sugarman, said it filed with federal antitrust regulators for clearance to buy more than 50% of the stock of Rally's Inc., a fast-food company based in Louisville, Ky.@@@@1@41@@oe@2-2-2013
20695002@unknown@formal@none@1@S@Rally's operates and franchises about 160 fast-food restaurants throughout the U.S.@@@@1@11@@oe@2-2-2013
20695003@unknown@formal@none@1@S@The company went public earlier this month, offering 1,745,000 shares of common stock at $15 a share.@@@@1@17@@oe@2-2-2013
20695004@unknown@formal@none@1@S@Giant has interests in cement making and newsprint.@@@@1@8@@oe@2-2-2013
20695005@unknown@formal@none@1@S@The investor group includes Restaurant Investment Partnership, a California general partnership, and three Rally's directors: Mr. Sugarman, James M. Trotter III and William E. Trotter II.@@@@1@26@@oe@2-2-2013
20695006@unknown@formal@none@1@S@The group currently holds 3,027,330 Rally's shares, or 45.2% of its commmon shares outstanding.@@@@1@14@@oe@2-2-2013
20695007@unknown@formal@none@1@S@Giant Group owned 22% of Rally's shares before the initial public offering.@@@@1@12@@oe@2-2-2013
20695008@unknown@formal@none@1@S@A second group of three company directors, aligned with Rally's founder James Patterson, also is seeking control of the fast-food chain.@@@@1@21@@oe@2-2-2013
20695009@unknown@formal@none@1@S@It is estimated that the Patterson group controls more than 40% of Rally's stock.@@@@1@14@@oe@2-2-2013
20695010@unknown@formal@none@1@S@Rally officials weren't available to comment late yesterday.@@@@1@8@@oe@2-2-2013
20695011@unknown@formal@none@1@S@For the year ended July 2, Rally had net income of $2.4 million, or 34 cents a share, on revenue of $52.9 million.@@@@1@23@@oe@2-2-2013
20696001@unknown@formal@none@1@S@Companies listed below reported quarterly profit substantially different from the average of analysts' estimates.@@@@1@14@@oe@2-2-2013
20696002@unknown@formal@none@1@S@The companies are followed by at least three analysts, and had a minimum five-cent change in actual earnings per share.@@@@1@20@@oe@2-2-2013
20696003@unknown@formal@none@1@S@Estimated and actual results involving losses are omitted.@@@@1@8@@oe@2-2-2013
20696004@unknown@formal@none@1@S@The percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past 30 days.@@@@1@23@@oe@2-2-2013
20696005@unknown@formal@none@1@S@Otherwise, actual profit is compared with the 300-day estimate.@@@@1@9@@oe@2-2-2013
20697001@unknown@formal@none@1@S@DPC Acquisition Partners, a hostile suitor for Dataproducts Corp., filed a petition in federal district court in Los Angeles seeking to have its standstill agreement with the computer printer maker declared void, and it proceeded with a $10-a-share tender offer for the company.@@@@1@43@@oe@2-2-2013
20697002@unknown@formal@none@1@S@The offer would give the transaction an indicated value of $189 million, based on the 18.9 million shares the group doesn't already own.@@@@1@23@@oe@2-2-2013
20697003@unknown@formal@none@1@S@DPC holds about 7.8% of Dataproducts' shares.@@@@1@7@@oe@2-2-2013
20697004@unknown@formal@none@1@S@Lawyers representing DPC declined to elaborate, saying they didn't have a final copy of the filing.@@@@1@16@@oe@2-2-2013
20697005@unknown@formal@none@1@S@Jack Davis, Dataproducts' chairman, said he hadn't yet seen the filing and couldn't comment.@@@@1@14@@oe@2-2-2013
20697006@unknown@formal@none@1@S@DPC made a $15-a-share bid for the company in May, but Dataproducts management considered the $283.7 million proposal unacceptable.@@@@1@19@@oe@2-2-2013
20697007@unknown@formal@none@1@S@Dataproducts had sought a buyer for several months, but it is now in the midst of a restructuring plan and management says the company is no longer for sale.@@@@1@29@@oe@2-2-2013
20698001@unknown@formal@none@1@S@Appalachian Power Co., a subsidiary of American Electric Power Co., said it will redeem on Dec. 1 the entire $44.2 million of its 12 7/8% first mortgage bonds due 2013.@@@@1@30@@oe@2-2-2013
20698002@unknown@formal@none@1@S@The redemption price will be 109.66% of the principal amount of the bonds, plus accrued interest to the date of redemption.@@@@1@21@@oe@2-2-2013
20699001@unknown@formal@none@1@S@The European Community's consumer price index rose a provisional 0.6% in September from August and was up 5.3% from September 1988, according to Eurostat, the EC's statistical agency.@@@@1@28@@oe@2-2-2013
20699002@unknown@formal@none@1@S@The month-to-month rise in the index was the largest since April, Eurostat said.@@@@1@13@@oe@2-2-2013
20700001@unknown@formal@none@1@S@Efforts by the Hong Kong Futures Exchange to introduce a new interest-rate futures contract continue to hit snags, despite the support the proposed instrument enjoys in the colony's financial community.@@@@1@30@@oe@2-2-2013
20700002@unknown@formal@none@1@S@Hong Kong financial institutions have been waiting for interest-rate futures for a long time.@@@@1@14@@oe@2-2-2013
20700003@unknown@formal@none@1@S@The contract was first proposed more than two years ago, but shortly afterward, the colony's markets were hit hard by the October 1987 global stock crash.@@@@1@26@@oe@2-2-2013
20700004@unknown@formal@none@1@S@The subsequent drive to reform Hong Kong's markets also has embroiled the interest-rate futures contract.@@@@1@15@@oe@2-2-2013
20700005@unknown@formal@none@1@S@The Securities and Futures Commission, a government watchdog set up after the 1987 crash to try to restore confidence and order to Hong Kong's markets, had been expected to give the contract conditional approval last week.@@@@1@36@@oe@2-2-2013
20700006@unknown@formal@none@1@S@But regulators this week said futures-exchange officials still have a way to go before they answer all the remaining detailed questions about the contract.@@@@1@24@@oe@2-2-2013
20700007@unknown@formal@none@1@S@The exchange had forecast that the contract would begin trading by December.@@@@1@12@@oe@2-2-2013
20700008@unknown@formal@none@1@S@But securities regulators now say privately that it isn't likely to start until the first quarter of next year.@@@@1@19@@oe@2-2-2013
20700009@unknown@formal@none@1@S@Analysts and financial officials in the British colony consider the new contract essential to the revival of the Hong Kong Futures Exchange, which has never fully recovered from the October 1987 crash.@@@@1@32@@oe@2-2-2013
20700010@unknown@formal@none@1@S@Many believe that without a healthy futures exchange, Hong Kong's aspirations to be recognized as an international financial center will suffer.@@@@1@21@@oe@2-2-2013
20700011@unknown@formal@none@1@S@In addition, local banks say the new contract is important in helping them offset their Hong Kong-dollar exposure.@@@@1@18@@oe@2-2-2013
20700012@unknown@formal@none@1@S@The contract will be based on the three-month Hong Kong interbank offered rate, or Hibor.@@@@1@15@@oe@2-2-2013
20700013@unknown@formal@none@1@S@It is almost a carbon copy of the Chicago Mercantile Exchange's Eurodollar contract, which is based on the three-month Eurodollar rate, the rate paid on U.S.-dollar deposits in London banks.@@@@1@30@@oe@2-2-2013
20700014@unknown@formal@none@1@S@If the contract is as successful as some expect, it may do much to restore confidence in futures trading in Hong Kong.@@@@1@22@@oe@2-2-2013
20700015@unknown@formal@none@1@S@"The contract is definitely important to the exchange," says Robert Gilmore, executive director of the Securities and Futures Commission.@@@@1@19@@oe@2-2-2013
20700016@unknown@formal@none@1@S@Two years ago, the futures exchange was the envy of other would-be futures centers.@@@@1@14@@oe@2-2-2013
20700017@unknown@formal@none@1@S@After only 17 months, its main contract, based on the Hang Seng index, had grown to be the second-largest stock-index-futures contract in the world.@@@@1@24@@oe@2-2-2013
20700018@unknown@formal@none@1@S@{A futures contract is an agreement to buy or sell a commodity or financial instrument at a set price on a specified date.@@@@1@23@@oe@2-2-2013
20700019@unknown@formal@none@1@S@In the case of stock-index and interest-rate futures, the instruments are given an underlying cash value and are settled in cash.}@@@@1@21@@oe@2-2-2013
20700020@unknown@formal@none@1@S@But in the week following the 1987 stock crash, the exchange verged on collapse, and the stock and futures markets in Hong Kong were closed for four days.@@@@1@28@@oe@2-2-2013
20700021@unknown@formal@none@1@S@Only a government-sponsored bailout kept the crisis from swallowing the exchange.@@@@1@11@@oe@2-2-2013
20700022@unknown@formal@none@1@S@Trading in Hang Seng index futures remains crippled by the experience.@@@@1@11@@oe@2-2-2013
20700023@unknown@formal@none@1@S@Volume for the entire month of September totaled only 21,687 contracts, compared with a daily average of 27,000 in the month before the 1987 crash.@@@@1@25@@oe@2-2-2013
20700024@unknown@formal@none@1@S@Despite the thin trading, and after two painful years of restructuring, the futures market has shown itself to be resilient in two recent tests.@@@@1@24@@oe@2-2-2013
20700025@unknown@formal@none@1@S@While Asian markets struggled to cope with the uncertainty caused by the Oct. 13 plunge in New York stock prices, futures trading in Hong Kong was relatively heavy and went smoothly.@@@@1@31@@oe@2-2-2013
20700026@unknown@formal@none@1@S@That was also the case in the days following the June 4 massacre in Beijing, which caused a sharp drop in Hong Kong stock prices.@@@@1@25@@oe@2-2-2013
20700027@unknown@formal@none@1@S@"There was no problem at all," says Douglas Ford, chief executive officer of the futures exchange.@@@@1@16@@oe@2-2-2013
20700028@unknown@formal@none@1@S@Most important to the contract's success is the commitment of Hong Kong's big financial institutions, especially the two leaders, Hongkong & Shanghai Banking Corp. and the local subsidiary of Britain's Standard Chartered Bank PLC.@@@@1@34@@oe@2-2-2013
20700029@unknown@formal@none@1@S@The two big banks were instrumental in designing the new contract.@@@@1@11@@oe@2-2-2013
20700030@unknown@formal@none@1@S@"If those two banks are there, then the balance of the banking institutions will be there," says Mr. Gilmore, the Securities and Futures Commission official.@@@@1@25@@oe@2-2-2013
20700031@unknown@formal@none@1@S@Colony banks have a major stake in how interest rates move because of their enormous Hong Kong-dollar exposure.@@@@1@18@@oe@2-2-2013
20700032@unknown@formal@none@1@S@Even though the currency is pegged to the U.S. dollar, with a fixed exchange rate of HK$7.8 to the American currency, the U.S. and Hong Kong economies don't always move in lock step, making it difficult to predict where interest rates in the colony will go.@@@@1@46@@oe@2-2-2013
20700033@unknown@formal@none@1@S@In early 1988, when the three-month Eurodollar rate was between 7% and 8%, the three-month Hibor rate was as low as 1%.@@@@1@22@@oe@2-2-2013
20700034@unknown@formal@none@1@S@Just a few months ago, the three-month Eurodollar rate was around 9.5%, while three-month Hibor hit highs above 11%.@@@@1@19@@oe@2-2-2013
20700035@unknown@formal@none@1@S@The Hibor contract "solves quite a bit of the problem of interest-rate risk in the interbank market," says Eric Cheng, a director of James Capel (Far East) Ltd., the Hong Kong arm of the British brokerage firm.@@@@1@37@@oe@2-2-2013
20700036@unknown@formal@none@1@S@Despite the initial support expected, trading in the contract is likely to start slowly.@@@@1@14@@oe@2-2-2013
20700037@unknown@formal@none@1@S@The wounds from the 1987 crash haven't yet healed, and not all claims against the exchange clearinghouse -- by those who bet the Hang Seng index would fall -- have been settled.@@@@1@32@@oe@2-2-2013
20700038@unknown@formal@none@1@S@Companies and financial institutions familiar with Hong Kong remain wary of trading in its futures market.@@@@1@16@@oe@2-2-2013
20700039@unknown@formal@none@1@S@And Mr. Gilmore cautions that there may be limits on how much the contract can grow because the Hong Kong dollar isn't a widely traded currency.@@@@1@26@@oe@2-2-2013
20700040@unknown@formal@none@1@S@He says the contract will be considered a success if it starts trading 500 to 1,000 lots a day.@@@@1@19@@oe@2-2-2013
20700041@unknown@formal@none@1@S@Exchange officials also point out that Hibor futures were designed for institutions and corporations, not for the type of small individual investors who were very active in Hang Seng index futures and defaulted in the 1987 crash.@@@@1@37@@oe@2-2-2013
20700042@unknown@formal@none@1@S@Mr. Cheng says the low margin required for trading futures attracted a lot of small investors before the 1987 crash who didn't realize that their risk was virtually unlimited.@@@@1@29@@oe@2-2-2013
20700043@unknown@formal@none@1@S@"You're not going to get your taxi drivers and amahs and all that," says Rory Nicholas, a director for securities company Elders Bullion & Futures Ltd.@@@@1@26@@oe@2-2-2013
20700044@unknown@formal@none@1@S@That should help to inspire confidence, Mr. Gilmore says.@@@@1@9@@oe@2-2-2013
20700045@unknown@formal@none@1@S@But many bankers remain nervous, especially as the start-up of the contract continues to be delayed.@@@@1@16@@oe@2-2-2013
20701001@unknown@formal@none@1@S@Two of Japan's largest paper manufacturers, Oji Paper Co. and Jujo Paper Co., posted unconsolidated pretax profit gains from a year earlier for the first half ended Sept. 30, on continuing robust domestic demand for paper products.@@@@1@37@@oe@2-2-2013
20701002@unknown@formal@none@1@S@Oji Paper, the nation's largest in terms of sales, said its pretax profit rose 1.5% to 23.11 billion yen (US$163.3 million) from 22.76 billion yen.@@@@1@25@@oe@2-2-2013
20701003@unknown@formal@none@1@S@Sales jumped 12.2% to 232.12 billion yen from 206.87 billion yen.@@@@1@11@@oe@2-2-2013
20701004@unknown@formal@none@1@S@Net income increased 6.7% to 12.43 billion yen from 11.66 billion yen.@@@@1@12@@oe@2-2-2013
20701005@unknown@formal@none@1@S@Per-share net rose to 20.48 yen from 19.51 yen.@@@@1@9@@oe@2-2-2013
20701006@unknown@formal@none@1@S@Oji Paper's sales strength was evident in overall paper products sales, including newsprints, printing and wrapping papers, which rose to 221.61 billion yen in the first half from 200.70 billion yen a year earlier.@@@@1@34@@oe@2-2-2013
20701007@unknown@formal@none@1@S@Pulp, processed and miscellaneous paper sales also surged.@@@@1@8@@oe@2-2-2013
20701008@unknown@formal@none@1@S@For the full fiscal year ending next March, Oji predicted that total sales of 477.00 billion yen, up from 420.68 billion yen in the previous fiscal year.@@@@1@27@@oe@2-2-2013
20701009@unknown@formal@none@1@S@Pretax profit is seen at 45.00 billion yen, down from 47.17 billion yen, while net income is estimated at 23.500 billion yen, up from 23.031 billion yen.@@@@1@27@@oe@2-2-2013
20701010@unknown@formal@none@1@S@The company didn't provide an explanation for the softer pretax profit performance and officials couldn't be reached for comment.@@@@1@19@@oe@2-2-2013
20701011@unknown@formal@none@1@S@Jujo Paper said its pretax profit rose 0.3% to 13.05 billion yen from 13.02 billion yen.@@@@1@16@@oe@2-2-2013
20701012@unknown@formal@none@1@S@Sales rose 8.5% to 195.19 billion yen from 179.916 billion yen.@@@@1@11@@oe@2-2-2013
20701013@unknown@formal@none@1@S@Net income surged 10% to 7.12 billion yen from 6.47 billion yen.@@@@1@12@@oe@2-2-2013
20701014@unknown@formal@none@1@S@Per-share net rose to 14.95 yen from 14.44 yen.@@@@1@9@@oe@2-2-2013
20701015@unknown@formal@none@1@S@General paper product sales, including newsprints and other papers, accounting for the bulk of sales, rose to 157.78 billion yen from 143.88 billion yen.@@@@1@24@@oe@2-2-2013
20701016@unknown@formal@none@1@S@Jujo Paper predicted that for the full fiscal year ending next March 31, sales will total 400.0 billion yen, up from 366.89 billion yen.@@@@1@24@@oe@2-2-2013
20701017@unknown@formal@none@1@S@Pretax profit was estimated at 23.0 billion yen, down from 25.51 billion yen, while net income was estimated at 12 billion yen, up from 11.95 billion yen.@@@@1@27@@oe@2-2-2013
20702001@unknown@formal@none@1@S@Unocal Corp.'s decision to put its Norwegian oil and gas interests up for sale earlier this week is another step in the company's strategic review of its properties, and shows that few of them are sacred cows.@@@@1@37@@oe@2-2-2013
20702002@unknown@formal@none@1@S@The company declined to estimate the value of the Norwegian holding.@@@@1@11@@oe@2-2-2013
20702003@unknown@formal@none@1@S@But Eugene L. Nowak, an analyst at Dean Witter Reynolds Inc., forecast that the sale will bring in "$200 million or substantially more."@@@@1@23@@oe@2-2-2013
20702004@unknown@formal@none@1@S@The proposed transaction is the latest in a redeployment of assets by the Los Angeles-based oil company that has included the $200 million sale of its headquarters property and the pending sale of half of its Chicago refinery and related marketing operations to Petroleos de Venezuela S.A.@@@@1@47@@oe@2-2-2013
20702005@unknown@formal@none@1@S@Mr. Nowak said he attaches particular importance to the proposed sale because it suggests that the company is willing to sell oil and gas assets that aren't part of its major strategic strengths.@@@@1@33@@oe@2-2-2013
20702006@unknown@formal@none@1@S@Unocal said it expects to complete the sale of its Unocal Norge A/S unit by next March or April.@@@@1@19@@oe@2-2-2013
20702007@unknown@formal@none@1@S@In addition to an 18% stake in the Veslefrikk offshore field, the Norwegian unit has interests ranging from 10% to 25% in three other Norwegian oil and gas production licenses.@@@@1@30@@oe@2-2-2013
20702008@unknown@formal@none@1@S@In 1986, Unocal sold a 7.5% stake in the Veslefrikk field to Deutsche Erdolversorgungs G.m.b.H., a West German oil company, for an undisclosed amount.@@@@1@24@@oe@2-2-2013
20702009@unknown@formal@none@1@S@In 1987, it sold a 2.5% stake in the Veslefrikk field to the Swedish national oil company, resulting in a $7 million after-tax gain.@@@@1@24@@oe@2-2-2013
20702010@unknown@formal@none@1@S@However, those sales were early in the field's history, before production equipment was installed.@@@@1@14@@oe@2-2-2013
20702011@unknown@formal@none@1@S@The field is currently being developed and is slated to start production by the end of the year.@@@@1@18@@oe@2-2-2013
20702012@unknown@formal@none@1@S@It's expected to produce about 62,000 barrels per day.@@@@1@9@@oe@2-2-2013
20702013@unknown@formal@none@1@S@A company spokesman said the Veslefrikk field's gross reserves were estimated in 1987 at 229 million barrels.@@@@1@17@@oe@2-2-2013
20702014@unknown@formal@none@1@S@However, he added that that estimate, made before extensive development drilling, currently is being reappraised.@@@@1@15@@oe@2-2-2013
20702015@unknown@formal@none@1@S@The spokesman said Unocal has had "considerable interest" from prospective buyers.@@@@1@11@@oe@2-2-2013
20702016@unknown@formal@none@1@S@The company has retained J. Henry Schroder Wagg & Co. as financial adviser and agent for the sale.@@@@1@18@@oe@2-2-2013
20703001@unknown@formal@none@1@S@France's unemployment rate was steady at a seasonally adjusted 9.5% in September, the Social Affairs Ministry said.@@@@1@17@@oe@2-2-2013
20703002@unknown@formal@none@1@S@In September, the number of jobless rose 0.1% from the previous month to 2.5 million on a seasonally adjusted basis.@@@@1@20@@oe@2-2-2013
20704001@unknown@formal@none@1@S@The following were among yesterday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
20704002@unknown@formal@none@1@S@Tenneco Credit Corp. -- $150 million of 9 1/4% senior notes due Nov. 1, 1996, priced at 99.625 to yield 9.324%.@@@@1@21@@oe@2-2-2013
20704003@unknown@formal@none@1@S@The noncallable issue was priced at a spread of 144 basis points above the Treasury's seven-year note.@@@@1@17@@oe@2-2-2013
20704004@unknown@formal@none@1@S@Rated Baa-2 by Moody's Investors Service Inc. and triple-B-plus by Standard & Poor's Corp., the issue will be sold through underwriters led by Merrill Lynch Capital Markets.@@@@1@27@@oe@2-2-2013
20704005@unknown@formal@none@1@S@Tenneco Credit is a unit of Tenneco Inc.@@@@1@8@@oe@2-2-2013
20704006@unknown@formal@none@1@S@Allegany Health System -- three-part issue of $156.7 million of revenue bonds, tentatively priced through a Morgan Stanley & Co. group.@@@@1@21@@oe@2-2-2013
20704007@unknown@formal@none@1@S@The offering includes a new issue of $53 million of Tampa, Fla., Series 1989 revenue bonds for St. Joseph's Hospital Inc., due 1996-2000, 2005 and 2023.@@@@1@26@@oe@2-2-2013
20704008@unknown@formal@none@1@S@The bonds are tentatively priced to yield from 6.90% in 1996 to 7.55% in 2023.@@@@1@15@@oe@2-2-2013
20704009@unknown@formal@none@1@S@The other two portions of the deal are remarketings of outstanding debt rather than new issues.@@@@1@16@@oe@2-2-2013
20704010@unknown@formal@none@1@S@The bonds are rated single-A by Moody's and single-A-plus by S&P, according to the lead underwriter.@@@@1@16@@oe@2-2-2013
20704011@unknown@formal@none@1@S@City and County of Honolulu -- $75 million of general obligation bonds, 1989 Series B, due 1993-2009, through a Bear, Stearns & Co. group.@@@@1@24@@oe@2-2-2013
20704012@unknown@formal@none@1@S@The bonds, rated double-A by Moody's and S&P, were priced to yield from 6.20% in 1993 to 7.10% in 2008 and 2009.@@@@1@22@@oe@2-2-2013
20704013@unknown@formal@none@1@S@Federal National Mortgage Association -- $500 million of Remic mortgage securities being offered in 12 classes by Shearson Lehman Hutton Inc.@@@@1@21@@oe@2-2-2013
20704014@unknown@formal@none@1@S@The offering, Series 1989-89, backed by Fannie Mae 9% securities, brings Fannie Mae's 1989 Remic issuance to $33.2 billion and its total Remic volume to $45.3 billion since the program began in April 1987.@@@@1@34@@oe@2-2-2013
20704015@unknown@formal@none@1@S@Pricing terms weren't available.@@@@1@4@@oe@2-2-2013
20704016@unknown@formal@none@1@S@Kyushu Electric Power Co. (Japan) -- $200 million of 8 7/8% bonds due Nov. 28, 1996, priced at 101 7/8 to yield 8 7/8% less full fees, via Yamaichi International Europe Ltd.@@@@1@32@@oe@2-2-2013
20704017@unknown@formal@none@1@S@Fees 1 7/8.@@@@1@3@@oe@2-2-2013
20704018@unknown@formal@none@1@S@Toshiba Corp. (Japan) -- $1.2 billion of bonds due Nov. 16, 1993, with equity-purchase warrants, indicating a 3 3/4% coupon at par, via Nomura International Ltd.@@@@1@26@@oe@2-2-2013
20704019@unknown@formal@none@1@S@Each $5,000 bond carries a warrant exercisable Dec. 1, 1989, through Nov. 9, 1993, to buy company shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Nov. 2.@@@@1@36@@oe@2-2-2013
20704020@unknown@formal@none@1@S@Credit Lyonnais Australia Ltd. (French parent) -- 50 million Australian dollars of 16 1/4% bonds due Nov. 30, 1992, priced at 102 to yield 16.03% less full fees, via Hambros Bank Ltd.@@@@1@32@@oe@2-2-2013
20704021@unknown@formal@none@1@S@Guarantee by Credit Lyonnais.@@@@1@4@@oe@2-2-2013
20704022@unknown@formal@none@1@S@Fees 1 1/2.@@@@1@3@@oe@2-2-2013
20704023@unknown@formal@none@1@S@World Bank (agency) -- #100 million of 10 7/8% bonds due Aug. 15, 1994, offered at 96.95 to yield 11.71%, via Baring Brothers & Co.@@@@1@25@@oe@2-2-2013
20704024@unknown@formal@none@1@S@Tap on outstanding #100 million issue.@@@@1@6@@oe@2-2-2013
20704025@unknown@formal@none@1@S@Also issued were 10 billion yen of bonds due Dec. 5, 1994, priced at 101 1/2, with coupon paid in Australian dollars, via LTCB International Ltd.@@@@1@26@@oe@2-2-2013
20704026@unknown@formal@none@1@S@Interest during first year paid semiannually at 7.51%.@@@@1@8@@oe@2-2-2013
20704027@unknown@formal@none@1@S@Thereafter, interest paid annually at 7.65%.@@@@1@6@@oe@2-2-2013
20704028@unknown@formal@none@1@S@The World Bank also offered 100 million Swiss francs of 6% bonds due Nov. 16, 1999, priced at 101 1/4 to yield 5.83% via Credit Suisse.@@@@1@26@@oe@2-2-2013
20704029@unknown@formal@none@1@S@Option by borrower to increase issue amount to 150 million francs.@@@@1@11@@oe@2-2-2013
20704030@unknown@formal@none@1@S@Mandom Corp. (Japan) -- 80 million Swiss francs of privately placed convertible notes due March 31, 1994, with fixed 0.25% coupon at par, via Nomura Bank Switzerland.@@@@1@27@@oe@2-2-2013
20704031@unknown@formal@none@1@S@Put March 31, 1992, at a fixed 107 3/4 to yield 3.43%.@@@@1@12@@oe@2-2-2013
20704032@unknown@formal@none@1@S@Each 50,000 Swiss franc note convertible Dec. 4, 1989, through March 17, 1994, at a 5% premium over closing share price Nov. 1, when terms are fixed.@@@@1@27@@oe@2-2-2013
20704033@unknown@formal@none@1@S@Nippon Air Brake Co. (Japan) -- 140 million Swiss francs of privately placed convertible notes due March 31, 1994, with fixed 0.25% coupon at par, via Yamaichi Bank (Switzerland).@@@@1@29@@oe@2-2-2013
20704034@unknown@formal@none@1@S@Put March 31, 1992, at fixed 107 13/16 to yield 3.43%.@@@@1@11@@oe@2-2-2013
20704035@unknown@formal@none@1@S@Each 50,000 Swiss franc note convertible Nov. 27, 1989, through March 17, 1994, at a 5% premium over closing share price Nov. 1, when terms are fixed.@@@@1@27@@oe@2-2-2013
20704036@unknown@formal@none@1@S@Credit Suisse Finance Gibraltar Ltd. (Swiss parent) -- 100 billion lire of 12 5/8% bonds due June 30, 1993, priced at 101.45 to yield 12.75% less full fees, via Banca Nazionale del Lavaro.@@@@1@33@@oe@2-2-2013
20704037@unknown@formal@none@1@S@Guarantee by Credit Suisse.@@@@1@4@@oe@2-2-2013
20704038@unknown@formal@none@1@S@Fees 1 5/8.@@@@1@3@@oe@2-2-2013
20704039@unknown@formal@none@1@S@Maryland National Bank -- $267 million of securities backed by home-equity lines of credit through Merrill Lynch Capital Markets.@@@@1@19@@oe@2-2-2013
20704040@unknown@formal@none@1@S@The bank is a subsidiary of Baltimore-based MNC Financial Inc.@@@@1@10@@oe@2-2-2013
20704041@unknown@formal@none@1@S@The securities were priced to float monthly at 20 basis points above the 30-day commercial paper rate.@@@@1@17@@oe@2-2-2013
20704042@unknown@formal@none@1@S@The issue, formally titled MNB Home Equity Loan Asset Backed Certificates, Series 1989, will represent interest in a trust fund of home equity revolving credit line loans originated by the retail finance division of Maryland National Bank and secured primarily by second deeds of trust or second mortgages on single to four-family residential properties.@@@@1@54@@oe@2-2-2013
20704043@unknown@formal@none@1@S@The securities are rated triple-A by Moody's and Duff & Phelps Inc.@@@@1@12@@oe@2-2-2013
20704044@unknown@formal@none@1@S@They are expected to have an average life of 3.16 years.@@@@1@11@@oe@2-2-2013
20704045@unknown@formal@none@1@S@Maryland National Bank's retail finance division will continue to service the loans.@@@@1@12@@oe@2-2-2013
20704046@unknown@formal@none@1@S@First National Bank of Chicago will act as trustee, and the transaction will be supported by an 8% letter of credit issued by Dai-Ichi Kangyo Bank Ltd., Chicago branch.@@@@1@29@@oe@2-2-2013
20704047@unknown@formal@none@1@S@Province of Nova Scotia -- $250 million of 8 1/4% debentures due Nov. 15, 2019, priced at 99.775 to yield 8.28%.@@@@1@21@@oe@2-2-2013
20704048@unknown@formal@none@1@S@The noncallable issue, which can be put back to the province in 2001, was priced at a spread of 41 basis points above the Treasury's 10-year note.@@@@1@27@@oe@2-2-2013
20704049@unknown@formal@none@1@S@Rated single-A-2 by Moody's and single-A-minus by S&P, the issue will be sold through underwriters led by Merrill Lynch Capital Markets.@@@@1@21@@oe@2-2-2013
20705001@unknown@formal@none@1@S@Bausch & Lomb Inc. said it plans to introduce next year a new line of sunglasses containing melanin, the pigment that protects against damage from ultraviolet rays.@@@@1@27@@oe@2-2-2013
20705002@unknown@formal@none@1@S@The optical products company has signed a licensing agreement with Photoprotective Technologies Inc., a closely held firm in San Antonio, Texas, which has developed a method to incorporate the synthetic melanin into plastic lenses.@@@@1@34@@oe@2-2-2013
20705003@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20706001@unknown@formal@none@1@S@Security Pacific Corp. has set its sights on buying its second bank holding company this year.@@@@1@16@@oe@2-2-2013
20706002@unknown@formal@none@1@S@Security said it signed a letter of intent to purchase La Jolla Bancorp, agreeing to pay $15 of its own stock for each share of La Jolla.@@@@1@27@@oe@2-2-2013
20706003@unknown@formal@none@1@S@Based on the current number of La Jolla shares, that gives the transaction a value of $104 million.@@@@1@18@@oe@2-2-2013
20706004@unknown@formal@none@1@S@La Jolla is the parent company of La Jolla Bank & Trust Co., which has 12 branches in San Diego County.@@@@1@21@@oe@2-2-2013
20706005@unknown@formal@none@1@S@As of Sept. 30, the bank had assets of $511 million and deposits of $469 million, Security Pacific said.@@@@1@19@@oe@2-2-2013
20706006@unknown@formal@none@1@S@Earlier this month, Security Pacific, which is among the 10 largest bank holding companies in the U.S., completed the acquisition of San Diego-based Southwest Bancorp.@@@@1@25@@oe@2-2-2013
20707001@unknown@formal@none@1@S@South Africa's current account surplus swelled to a seasonally adjusted annual rate of between five billion and six billion rand ($1.9 billion and $2.28 billion) in the third quarter, Reserve Bank Governor Chris Stals said.@@@@1@35@@oe@2-2-2013
20707002@unknown@formal@none@1@S@The surplus was two billion rand in the second quarter and 2.7 billion rand in the first quarter.@@@@1@18@@oe@2-2-2013
20707003@unknown@formal@none@1@S@He said this improvement means it is still possible to reach the targeted current account surplus of four billion rand for 1989.@@@@1@22@@oe@2-2-2013
20708001@unknown@formal@none@1@S@Moscom Corp. said its board approved the repurchase of as many as 300,000 common shares when market conditions are suitable.@@@@1@20@@oe@2-2-2013
20708002@unknown@formal@none@1@S@The maker of telecommunications management systems had 6,420,268 shares outstanding as of Sept. 30.@@@@1@14@@oe@2-2-2013
20708003@unknown@formal@none@1@S@In over-the-counter trading yesterday, Moscom closed at $4.375, up 37.5 cents.@@@@1@11@@oe@2-2-2013
20709001@unknown@formal@none@1@S@Service Corp. International said it expects to report net income of 15 cents a share for the third quarter.@@@@1@19@@oe@2-2-2013
20709002@unknown@formal@none@1@S@The company said it expects to release third-quarter results in mid-November.@@@@1@11@@oe@2-2-2013
20709003@unknown@formal@none@1@S@The funeral home and cemetery operator changed from a fiscal year to a calendar year in December.@@@@1@17@@oe@2-2-2013
20709004@unknown@formal@none@1@S@In the comparable year-ago quarter, the second quarter ended Oct. 31, Service Corp. had a loss of about $12.5 million, or 26 cents a share, on revenue of $175.4 million.@@@@1@30@@oe@2-2-2013
20709005@unknown@formal@none@1@S@Results for that quarter included a $30 million, or 40 cents a share, write-down associated with the consolidation of a facility.@@@@1@21@@oe@2-2-2013
20710001@unknown@formal@none@1@S@Your Sept. 25 criticism of credit-card foreign-exchange charges is unwarranted.@@@@1@10@@oe@2-2-2013
20710002@unknown@formal@none@1@S@I have just returned from France, and the net exchange rate charged on my Visa account was more favorable than I obtained for traveler's checks in any of the several banks where I converted them.@@@@1@35@@oe@2-2-2013
20710003@unknown@formal@none@1@S@Vincent Jolivet Kenmore, Wash.@@@@1@4@@oe@2-2-2013
20711001@unknown@formal@none@1@S@The state-controlled French metals group Pechiney S.A. said it has signed a preliminary accord to sell its Paris headquarters to Groupement Foncier Francais and Nouveaux Constructeurs for 2.76 billion francs ($443 million).@@@@1@32@@oe@2-2-2013
20711002@unknown@formal@none@1@S@The sale, which Pechiney had been eager to make for several months, is still subject to certain unspecified conditions and is expected to be completed during the first quarter of 1990, the group.@@@@1@33@@oe@2-2-2013
20712001@unknown@formal@none@1@S@Hong Kong's main measure of consumer prices rose 10% in September from a year earlier, the government said.@@@@1@18@@oe@2-2-2013
20712002@unknown@formal@none@1@S@The Consumer Price Index "A", which measures price changes for the 50% of urban households that spend between 2,000 Hong Kong dollars (US$256.18) and HK$6,499 a month, edged up 1.5% in September from August.@@@@1@34@@oe@2-2-2013
20712003@unknown@formal@none@1@S@Index "B", which monitors price changes for the 30% of urban households that spend between HK$6,500 and HK$9,999 a month, rose 9.9% last month from a year earlier and was up 1.3% from the preceding month.@@@@1@36@@oe@2-2-2013
20712004@unknown@formal@none@1@S@September's Hang Seng Consumer Price Index, which measures price changes for the 10% of urban households spending HK$10,000 and HK$24,999 a month, was up 11% from a year ago and up 1.3% from August.@@@@1@34@@oe@2-2-2013
20712005@unknown@formal@none@1@S@The main factors for the September increase from the previous month were higher prices for services, food and housing.@@@@1@19@@oe@2-2-2013
20712006@unknown@formal@none@1@S@Prices fell marginally for fuel and electricity.@@@@1@7@@oe@2-2-2013
20713001@unknown@formal@none@1@S@West German and French authorities have cleared Dresdner Bank AG's takeover of a majority stake in Banque Internationale de Placement (BIP), Dresdner Bank said.@@@@1@24@@oe@2-2-2013
20713002@unknown@formal@none@1@S@The approval, which had been expected, permits West Germany's second-largest bank to acquire shares of the French investment bank.@@@@1@19@@oe@2-2-2013
20713003@unknown@formal@none@1@S@In a first step, Dresdner Bank will buy 32.99% of BIP for 1,015 French francs ($162) a share, or 528 million francs ($84.7 million).@@@@1@24@@oe@2-2-2013
20713004@unknown@formal@none@1@S@Dresdner Bank said it will also buy all shares tendered by shareholders on the Paris Stock Exchange at the same price from today through Nov. 17.@@@@1@26@@oe@2-2-2013
20713005@unknown@formal@none@1@S@In addition, the bank has an option to buy a 30.84% stake in BIP from Societe Generale after Jan. 1, 1990 at 1,015 francs a share.@@@@1@26@@oe@2-2-2013
20714001@unknown@formal@none@1@S@Furukawa Electric Co., one of Japan's leading electric wire and cable manufacturers, said unconsolidated pretax profit in the fiscal first half ended Sept. 30 fell 5.3% to 6.11 billion yen ($43.1 million) from 6.45 billion yen a year earlier.@@@@1@39@@oe@2-2-2013
20714002@unknown@formal@none@1@S@Sales increased 11.9% to 279.39 billion yen from 249.68 billion yen.@@@@1@11@@oe@2-2-2013
20714003@unknown@formal@none@1@S@Net fell 1% to 3.23 billion yen from 3.26 billion yen.@@@@1@11@@oe@2-2-2013
20714004@unknown@formal@none@1@S@Pershare net fell to 4.97 yen from 5.40 yen.@@@@1@9@@oe@2-2-2013
20714005@unknown@formal@none@1@S@The growing sales sustained by domestic demand failed to counter rising material metal costs and declining profitability in overseas construction, Furukawa said.@@@@1@22@@oe@2-2-2013
20714006@unknown@formal@none@1@S@Rolled copper product sales were major contributors to overall sales growth.@@@@1@11@@oe@2-2-2013
20714007@unknown@formal@none@1@S@Sales by category rose 24% to 35.23 billion yen, reflecting increased production in automobile, airconditioner and electric machine industries, which are major users of wire and cable products.@@@@1@28@@oe@2-2-2013
20714008@unknown@formal@none@1@S@Sales for electric wires and cables rose 13.2% to 153.93 billion yen.@@@@1@12@@oe@2-2-2013
20715001@unknown@formal@none@1@S@West Germany's cost-of-living index rose a preliminary 0.3% in October from September and was up 3.3% from a year earlier, the Federal Statistics Office in Wiesbaden said.@@@@1@27@@oe@2-2-2013
20715002@unknown@formal@none@1@S@The increase follows a monthly rise of 0.2% in September from August.@@@@1@12@@oe@2-2-2013
20715003@unknown@formal@none@1@S@Preliminary cost-of-living data for the current month are calculated based on inflation data from the four largest West German states -- Baden-Wuerttemberg, North Rhine-Westphalia, Bavaria and Hesse.@@@@1@27@@oe@2-2-2013
20716001@unknown@formal@none@1@S@The Philippine government awarded Finland's Outokumpu Oy the contract to upgrade the facilities of Philippine Associated Smelting & Refining Corp., according to documents from National Development Corp., one of Philippine company's owners.@@@@1@32@@oe@2-2-2013
20716002@unknown@formal@none@1@S@The project costs $46.8 million, and is intended to boost the company's production capacity by 25% to 34,500 metric tons of copper cathode a year.@@@@1@25@@oe@2-2-2013
20716003@unknown@formal@none@1@S@Outokumpu is a mining, trading and construction concern.@@@@1@8@@oe@2-2-2013
20717001@unknown@formal@none@1@S@September sales at major Japanese retail stores rose 9.4% from a year earlier to 1.388 trillion yen ($9.81 billion), marking the fifth-consecutive monthly increase, the Ministry of International Trade and Industry announced.@@@@1@32@@oe@2-2-2013
20717002@unknown@formal@none@1@S@According to the ministry, retail sales at major department stores were up 12% to 745.7 billion yen, while sales at supermarkets rose 6.7% to 642 billion yen.@@@@1@27@@oe@2-2-2013
20717003@unknown@formal@none@1@S@September's growth followed a 8.7% rise in July and an 8% increase in August, showing continued expansion at high year-on-year levels.@@@@1@21@@oe@2-2-2013
20717004@unknown@formal@none@1@S@A ministry official said the growth leads to the conclusion the adverse effects of a consumption tax introduced in April have diminished.@@@@1@22@@oe@2-2-2013
20718001@unknown@formal@none@1@S@Shell Canada Ltd. said it plans to build a lubricants blending and packaging plant at Brockville, Ontario, with start-up scheduled for 1992.@@@@1@22@@oe@2-2-2013
20718002@unknown@formal@none@1@S@A spokesman said the plant, which will replace older lubricant and grease manufacturing plants in Montreal and Toronto, will cost about 50 million Canadian dollars (US$42.5 million) to build.@@@@1@29@@oe@2-2-2013
20718003@unknown@formal@none@1@S@Brockville is about 100 miles east of Toronto.@@@@1@8@@oe@2-2-2013
20718004@unknown@formal@none@1@S@Shell Canada, an oil and gas producer and marketer, is a unit of Royal Dutch/Shell Group, an Anglo-Dutch concern.@@@@1@19@@oe@2-2-2013
20719001@unknown@formal@none@1@S@When the going gets tough, it's tough to trade stocks in continental Europe.@@@@1@13@@oe@2-2-2013
20719002@unknown@formal@none@1@S@That's the troubling conclusion reached by many international investors and money managers angry at the malfunctions on Continental stock exchanges during last week's global market turbulence.@@@@1@26@@oe@2-2-2013
20719003@unknown@formal@none@1@S@They say the recent market volatility has underscored the shortcomings of the way many European exchanges trade stocks.@@@@1@18@@oe@2-2-2013
20719004@unknown@formal@none@1@S@The weaknesses of Continental exchanges are driving some fund managers to switch business to stocks traded on London's stock exchange, which quotes firm trading prices for about 350 blue-chip issues from 12 major countries.@@@@1@34@@oe@2-2-2013
20719005@unknown@formal@none@1@S@"I'm not saying London covered itself in glory, but the events of the past week have certainly exposed Europe's weaknesses," says Stewart Gilchrist, a director of Scottish Amicable Investment Managers in Glasgow, Scotland, which manages about #6 billion ($9.63 billion) in institutional money.@@@@1@43@@oe@2-2-2013
20719006@unknown@formal@none@1@S@He says the problems on European exchanges included market-system breakdowns, delayed execution of buy and sell orders and trading suspensions.@@@@1@20@@oe@2-2-2013
20719007@unknown@formal@none@1@S@"The events strengthen London's hand in becoming the center for trading European stocks," Mr. Gilchrist says.@@@@1@16@@oe@2-2-2013
20719008@unknown@formal@none@1@S@Unable to unload a large block of a French blue-chip company's shares in Paris for two days last week, a frustrated Scottish Amicable fund manager finally tossed down her phone in disgust and called James Capel & Co., a London brokerage firm.@@@@1@42@@oe@2-2-2013
20719009@unknown@formal@none@1@S@The firm did the trade in seconds on the London stock exchange's SEAQ automated-quotation system.@@@@1@15@@oe@2-2-2013
20719010@unknown@formal@none@1@S@On so-called Manic Monday, Oct. 16, stock prices plunged across Europe and trading problems erupted.@@@@1@15@@oe@2-2-2013
20719011@unknown@formal@none@1@S@London had some problems, too.@@@@1@5@@oe@2-2-2013
20719012@unknown@formal@none@1@S@The London exchange's electronic price-reporting system provided only indicative, or non-firm, prices for about 40 minutes on Manic Monday.@@@@1@19@@oe@2-2-2013
20719013@unknown@formal@none@1@S@Some dealers say other traders weren't picking up their phones.@@@@1@10@@oe@2-2-2013
20719014@unknown@formal@none@1@S@But London's problems were nothing compared with the Continent's.@@@@1@9@@oe@2-2-2013
20719015@unknown@formal@none@1@S@In Brussels, which recently spent millions of dollars on a computer-assisted trading system, disgusted traders watched helplessly as a software failure before opening on Manic Monday prevented trading for two days.@@@@1@31@@oe@2-2-2013
20719016@unknown@formal@none@1@S@For 48 hours, no one had any idea precisely how much his securities were worth.@@@@1@15@@oe@2-2-2013
20719017@unknown@formal@none@1@S@By Wednesday, frustrated Belgian brokers reopened the market by using the time-honored method of quoting stocks with chalk on a blackboard.@@@@1@21@@oe@2-2-2013
20719018@unknown@formal@none@1@S@The Belgian computer system finally was repaired and restarted on Tuesday of this week, with the aid of Toronto Stock Exchange officials who developed the system.@@@@1@26@@oe@2-2-2013
20719019@unknown@formal@none@1@S@In Frankfurt, which only has a two-hour daily stock-trading session even in the best of times, stocks didn't open for the first 45 minutes because of order imbalances that brokers blame on a wave of sell orders from small investors.@@@@1@40@@oe@2-2-2013
20719020@unknown@formal@none@1@S@As banks processed six-foot telexes of sell orders, the crush led to Manic Monday's worst decline: German stocks ended down 13%.@@@@1@21@@oe@2-2-2013
20719021@unknown@formal@none@1@S@Exchange officials extended trading hours, 75 minutes on Monday and 65 minutes on Tuesday, to clear up order backlogs.@@@@1@19@@oe@2-2-2013
20719022@unknown@formal@none@1@S@In France, more than half the top 25 blue-chip stocks -- including such giants as BSN and Elf Aquitaine -- didn't open until Wall Street rallied late in the European trading day, traders say.@@@@1@34@@oe@2-2-2013
20719023@unknown@formal@none@1@S@The rally transformed some big sell orders into big buy orders, solving an order-imbalance problem.@@@@1@15@@oe@2-2-2013
20719024@unknown@formal@none@1@S@But by that time, many big institutions had switched business to London.@@@@1@12@@oe@2-2-2013
20719025@unknown@formal@none@1@S@"Belgium was closed for two days, France closed for a couple of hours, Germany was stuck.@@@@1@16@@oe@2-2-2013
20719026@unknown@formal@none@1@S@It was a nightmare," says Susan Noble, an investment manager at Robert Fleming Holdings Ltd.'s International Investment Management unit in London.@@@@1@21@@oe@2-2-2013
20719027@unknown@formal@none@1@S@"It's very worrying that these markets can't cope."@@@@1@8@@oe@2-2-2013
20719028@unknown@formal@none@1@S@On Manic Monday, the volume of German shares traded in London more than tripled to 2.2 million, and the volume of French shares rose 48%.@@@@1@25@@oe@2-2-2013
20719029@unknown@formal@none@1@S@(By comparison, German domestic stock volume in Frankfurt only doubled that day.)@@@@1@12@@oe@2-2-2013
20719030@unknown@formal@none@1@S@The switch to the London market during such turbulent times is significant.@@@@1@12@@oe@2-2-2013
20719031@unknown@formal@none@1@S@For one thing, the size of the affected market is enormous -- the European stock markets account for some 22.5% of global stock market capitalization, with an estimated value of $2.175 trillion, according to Morgan Stanley Capital International.@@@@1@38@@oe@2-2-2013
20719032@unknown@formal@none@1@S@The Continental markets alone contribute about 14.3% of estimated world market capitalization of $9.671 trillion.@@@@1@15@@oe@2-2-2013
20719033@unknown@formal@none@1@S@Though the widely traded shares that are quoted in London account for only a small portion of those totals, they still are the most closely watched stocks and are often viewed as a barometer for the local markets generally.@@@@1@39@@oe@2-2-2013
20719034@unknown@formal@none@1@S@The switch to London underscores the fact that despite the economic restructuring associated with European Community efforts to develop a single market by 1992, European stock trading remains a highly fragmented and very localized activity.@@@@1@35@@oe@2-2-2013
20719035@unknown@formal@none@1@S@Against this backdrop, one thing that doesn't seem likely to result from 1992 is a single European stock market.@@@@1@19@@oe@2-2-2013
20719036@unknown@formal@none@1@S@Rather, there increasingly is a group of international brokerage and trading firms that operate in most European financial centers -- including European giants such as Barclays Bank PLC and Deutsche Bank, as well as Merrill Lynch & Co. and Shearson Lehman Hutton Inc. of the U.S. and Japan's Nomura Securities Co.@@@@1@51@@oe@2-2-2013
20719037@unknown@formal@none@1@S@These firms, which often have acquired a local brokerage firm, are calling the shots when it comes to deciding in which market to transact a trade.@@@@1@26@@oe@2-2-2013
20719038@unknown@formal@none@1@S@And senior officials of two U.S. securities houses say they switched trades in European stocks to the London market last week when they couldn't unwind positions on the Continent.@@@@1@29@@oe@2-2-2013
20719039@unknown@formal@none@1@S@Meantime, brokers on the Continent are worried, too, mostly by the potential loss of business.@@@@1@15@@oe@2-2-2013
20719040@unknown@formal@none@1@S@"I would be much happier if this volume {in German stocks} were in Frankfurt rather than London," says Dieter Bauernfeind, head of international equity sales at Dresdner Bank in Frankfurt.@@@@1@30@@oe@2-2-2013
20719041@unknown@formal@none@1@S@He acknowledges that spreads "were too wide and volumes too light" in the extreme conditions on Manic Monday.@@@@1@18@@oe@2-2-2013
20719042@unknown@formal@none@1@S@Already the Germans appear to be acting; at a special meeting on the day of the decline, directors of the Frankfurt Stock Exchange voted to extend their trading hours, although they haven't decided when or by how much.@@@@1@38@@oe@2-2-2013
20719043@unknown@formal@none@1@S@A Frankfurt exchange official, acknowledging the brokers' anxieties, says the market still feels it "functioned OK during this crash."@@@@1@19@@oe@2-2-2013
20719044@unknown@formal@none@1@S@The Dutch, who had some trading problems because of insufficient computer capacity, say new equipment to solve the problems ought to be installed within a month.@@@@1@26@@oe@2-2-2013
20719045@unknown@formal@none@1@S@Says a spokeswoman for the Brussels Bourse: "Nobody around here will tell you they are happy the system didn't work.@@@@1@20@@oe@2-2-2013
20719046@unknown@formal@none@1@S@But it's just one of those things that happened.@@@@1@9@@oe@2-2-2013
20719047@unknown@formal@none@1@S@Investors can be assured now that this kind of problem can never occur again."@@@@1@14@@oe@2-2-2013
20719048@unknown@formal@none@1@S@But for others, the pledges echo the promises made after the 1987 stock crash, when similar problems led many markets to develop the new systems that performed so badly last week.@@@@1@31@@oe@2-2-2013
20719049@unknown@formal@none@1@S@"They all said they invested huge amounts of money.@@@@1@9@@oe@2-2-2013
20719050@unknown@formal@none@1@S@But they either didn't buy the right machines or they wasted it," says Fleming's Ms. Noble.@@@@1@16@@oe@2-2-2013
20720001@unknown@formal@none@1@S@Canadian steel production totaled 290,541 metric tons in the week ended Oct. 21, a 5.1% increase from 276,334 tons the previous week but a 7.2% decline from 313,125 tons a year earlier, Statistics Canada said.@@@@1@35@@oe@2-2-2013
20720002@unknown@formal@none@1@S@The federal agency said that in the year through Oct. 21 production totaled 12,573,758 tons, up 7.1% from 11,742,368 tons.@@@@1@20@@oe@2-2-2013
20721001@unknown@formal@none@1@S@Trinova Corp. said it will resume buying back as many as three million of its common shares under a program announced two years ago.@@@@1@24@@oe@2-2-2013
20721002@unknown@formal@none@1@S@Trinova, which had 34.2 million common shares outstanding Sept. 30, had repurchased 29,700 shares since October 1987 before this latest announcement.@@@@1@21@@oe@2-2-2013
20721003@unknown@formal@none@1@S@The company said it isn't making a commitment to purchase a specific number of shares.@@@@1@15@@oe@2-2-2013
20721004@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Trinova closed at $32.125, up 12.5 cents.@@@@1@15@@oe@2-2-2013
20722001@unknown@formal@none@1@S@Calgene Inc. and Gustafson Inc. said they plan a joint project to develop biological products to control such plant diseases as aflatoxin, a potent cancer-causing agent.@@@@1@26@@oe@2-2-2013
20722002@unknown@formal@none@1@S@Under the plan, the companies will use Calgene's patented technology to encapsulate microbes such as Bacillus subtilis, a bacterium, to enhance their biological activity against plant diseases.@@@@1@27@@oe@2-2-2013
20722003@unknown@formal@none@1@S@Calgene, an agricultural biotechnology concern, said initial work will concentrate on a proprietary strain of Bacillus subtilis which has shown promise for controlling aflatoxin.@@@@1@24@@oe@2-2-2013
20722004@unknown@formal@none@1@S@The strain was discovered by Morinaga & Co. and licensed to Gustafson, a unit of Uniroyal Chemical Co.@@@@1@18@@oe@2-2-2013
20722005@unknown@formal@none@1@S@Aflatoxin is released by molds during grain and seed storage.@@@@1@10@@oe@2-2-2013
20722006@unknown@formal@none@1@S@The recent appearance of aflatoxin in such foods as corn and peanut butter has sparked public concern and consumer scrutiny of food handling and storage procedures.@@@@1@26@@oe@2-2-2013
20723001@unknown@formal@none@1@S@European Community employers fear that the EC Commission's plans for a "charter of fundamental social rights" is a danger to industrial competitiveness.@@@@1@22@@oe@2-2-2013
20723002@unknown@formal@none@1@S@"We don't want Brussels deciding conditions for workers unless they are necessary and useful," said Zygmunt Tyszkiewicz, secretary general of the employers' confederation Unice.@@@@1@24@@oe@2-2-2013
20723003@unknown@formal@none@1@S@Unice -- an acronym for the Union of Industrial and Employers' Confederations of Europe -- fears that the charter will force EC countries to adopt a single pattern in labor relations.@@@@1@31@@oe@2-2-2013
20723004@unknown@formal@none@1@S@Workers and management, Mr. Tyszkiewicz said, would lose the "flexibility and diversity" that has so far allowed them to adapt to local conditions and traditions.@@@@1@25@@oe@2-2-2013
20723005@unknown@formal@none@1@S@The British government also strongly opposes the charter in its current form.@@@@1@12@@oe@2-2-2013
20723006@unknown@formal@none@1@S@It argues, as does Unice, that labor relations are best left to be regulated at the national level.@@@@1@18@@oe@2-2-2013
20723007@unknown@formal@none@1@S@France will propose a slightly watered-down version of the charter to be discussed by EC social-affairs ministers on Monday, officials said.@@@@1@21@@oe@2-2-2013
20723008@unknown@formal@none@1@S@But the cosmetic changes aren't expected to win over Britain.@@@@1@10@@oe@2-2-2013
20723009@unknown@formal@none@1@S@"We still have serious differences with the text," a British official said, because it provides for a "regulation of the labor market."@@@@1@22@@oe@2-2-2013
20723010@unknown@formal@none@1@S@Mr. Tyszkiewicz said the charter would put poorer EC countries such as Spain, Greece and Portugal at a disadvantage.@@@@1@19@@oe@2-2-2013
20723011@unknown@formal@none@1@S@It would force these countries to introduce minimum standards for pay and working hours, and provide for collective bargaining and worker "participation" in major corporate decisions.@@@@1@26@@oe@2-2-2013
20723012@unknown@formal@none@1@S@This, he warned, would prevent these countries from bridging the difference with their richer EC brethren.@@@@1@16@@oe@2-2-2013
20723013@unknown@formal@none@1@S@Indeed, lower wages -- in Greece, they are a third of the EC average -- aren't enough to offset higher transport costs and lower productivity in the southern countries.@@@@1@29@@oe@2-2-2013
20723014@unknown@formal@none@1@S@Increasing labor costs, Mr. Tyszkiewicz argued, would only put the countries at a further disadvantage in competing in the barrier-free EC market planned for after 1992.@@@@1@26@@oe@2-2-2013
20723015@unknown@formal@none@1@S@But the Unice official said that producing a charter acceptable to both Britain and European industry isn't an unattainable goal.@@@@1@20@@oe@2-2-2013
20723016@unknown@formal@none@1@S@The charter would just have to be restricted to a list of workers' fundamental rights, without seeking to impose any norms.@@@@1@21@@oe@2-2-2013
20723017@unknown@formal@none@1@S@A key provision in the current version of the charter would give the commission a mandate to produce an "action program" detailing on what points EC member states would be required to comply with the goals set out in the charter.@@@@1@41@@oe@2-2-2013
20723018@unknown@formal@none@1@S@This provision lies at the heart of the British and Unice fears of "social engineering" by the commission.@@@@1@18@@oe@2-2-2013
20723019@unknown@formal@none@1@S@One possible political solution, an EC official said, would be for the commission to present the action program in late November, before the adoption of the charter at a summit of EC governments on Dec. 8 and 9.@@@@1@38@@oe@2-2-2013
20723020@unknown@formal@none@1@S@This would leave Britain free to adopt the charter after having rebutted the action program.@@@@1@15@@oe@2-2-2013
20723021@unknown@formal@none@1@S@The charter was approved by the EC Commission on Sept. 21.@@@@1@11@@oe@2-2-2013
20723022@unknown@formal@none@1@S@France's Socialist government, which currently holds the council's rotating presidency, is committed to having the charter adopted by all 12 EC states before the end of 1989 -- the bicentennial of the French revolution and its "Universal Declaration of Human Rights.@@@@1@41@@oe@2-2-2013
20724001@unknown@formal@none@1@S@Bruno DeGol, chairman of DeGol Brothers Lumber, Gallitzin, Pa., was named a director of this bank-holding company, expanding the board to 11 members.@@@@1@23@@oe@2-2-2013
20725001@unknown@formal@none@1@S@Sam Ramirez and his men are late.@@@@1@7@@oe@2-2-2013
20725002@unknown@formal@none@1@S@They pile out of their truck and furiously begin twisting together steel pipes linking a giant storage tank to the Sharpshooter, a freshly drilled oil well two miles deep.@@@@1@29@@oe@2-2-2013
20725003@unknown@formal@none@1@S@If they finish today, the Sharpshooter can pump tomorrow.@@@@1@9@@oe@2-2-2013
20725004@unknown@formal@none@1@S@One roustabout, hanging by his hands from a ladder, bounces his weight on a three-foot wrench to loosen a stuck fitting.@@@@1@21@@oe@2-2-2013
20725005@unknown@formal@none@1@S@"We've been putting in long hours," Mr. Ramirez says -- six-day weeks and 13-hour days for the last two months.@@@@1@20@@oe@2-2-2013
20725006@unknown@formal@none@1@S@A year ago, when almost nothing was happening amid these desolate dunes, "you'd spend two days working and two days in the yard," he recalls.@@@@1@25@@oe@2-2-2013
20725007@unknown@formal@none@1@S@After a three-year nightmare of uncertain oil prices, draconian budget cuts and sweeping layoffs, fear is finally leaving the oil patch.@@@@1@21@@oe@2-2-2013
20725008@unknown@formal@none@1@S@Independent drillers are gingerly sinking bits into the Earth's crust again.@@@@1@11@@oe@2-2-2013
20725009@unknown@formal@none@1@S@Some in Big Oil are easing the grip on their wallets.@@@@1@11@@oe@2-2-2013
20725010@unknown@formal@none@1@S@Investment capital is creeping back, and oil properties are fetching more.@@@@1@11@@oe@2-2-2013
20725011@unknown@formal@none@1@S@Oil-tool prices are even edging up.@@@@1@6@@oe@2-2-2013
20725012@unknown@formal@none@1@S@What happened?@@@@1@2@@oe@2-2-2013
20725013@unknown@formal@none@1@S@In broadest terms, stability has quietly settled into international oil markets.@@@@1@11@@oe@2-2-2013
20725014@unknown@formal@none@1@S@Mideast politics have calmed down and the squabbling within the Organization of Petroleum Exporting Countries seems under control for now.@@@@1@20@@oe@2-2-2013
20725015@unknown@formal@none@1@S@"The fundamentals of supply and demand once again are setting oil prices," says Victor Burk, an Arthur Andersen & Co. oil expert.@@@@1@22@@oe@2-2-2013
20725016@unknown@formal@none@1@S@After years of wild swings, oil prices over the last 12 months have settled at around $15 to $20 a barrel.@@@@1@21@@oe@2-2-2013
20725017@unknown@formal@none@1@S@That isn't the $40 that delighted producers a decade ago or the $10 that pleased users a year ago.@@@@1@19@@oe@2-2-2013
20725018@unknown@formal@none@1@S@But it is high enough to prod the search for future supplies, low enough to promote consumption and, most important, steady enough for both producers and users to believe in.@@@@1@30@@oe@2-2-2013
20725019@unknown@formal@none@1@S@Not that oil suddenly is a sure thing again.@@@@1@9@@oe@2-2-2013
20725020@unknown@formal@none@1@S@The current equilibrium is fragile and depends on steady, strong demand and continued relative harmony within OPEC, producer of more than 40% of the non-Communist world's crude.@@@@1@27@@oe@2-2-2013
20725021@unknown@formal@none@1@S@A recession or new OPEC blowup could put oil markets right back in the soup.@@@@1@15@@oe@2-2-2013
20725022@unknown@formal@none@1@S@Also, the new stirrings are faint, and some question their extent.@@@@1@11@@oe@2-2-2013
20725023@unknown@formal@none@1@S@Drilling activity is still far below eight years ago, there's no hiring surge and some companies continue to shrink.@@@@1@19@@oe@2-2-2013
20725024@unknown@formal@none@1@S@With all this, even the most wary oil men agree something has changed.@@@@1@13@@oe@2-2-2013
20725025@unknown@formal@none@1@S@"It doesn't appear to be getting worse.@@@@1@7@@oe@2-2-2013
20725026@unknown@formal@none@1@S@That in itself has got to cause people to feel a little more optimistic," says Glenn Cox, the president of Phillips Petroleum Co.@@@@1@23@@oe@2-2-2013
20725027@unknown@formal@none@1@S@Though modest, the change reaches beyond the oil patch, too.@@@@1@10@@oe@2-2-2013
20725028@unknown@formal@none@1@S@The same roller-coaster prices that halted U.S. oil exploration and drove many veteran oil men and companies out of the business also played havoc with the nation's inflation rate, the trade deficit and oil users' corporate and personal budgets.@@@@1@39@@oe@2-2-2013
20725029@unknown@formal@none@1@S@Now, at least some predictability has returned, for everyone from economists to motorists.@@@@1@13@@oe@2-2-2013
20725030@unknown@formal@none@1@S@Corporate planners can plan again.@@@@1@5@@oe@2-2-2013
20725031@unknown@formal@none@1@S@"Management doesn't want surprises," notes Jack Zaves, who, as fuel-services director at American Airlines, buys some 2.4 billion gallons of jet fuel a year.@@@@1@24@@oe@2-2-2013
20725032@unknown@formal@none@1@S@Prices had been so unstable that two years ago Mr. Zaves gave up on long-term forecasts.@@@@1@16@@oe@2-2-2013
20725033@unknown@formal@none@1@S@And consumers "should be comfortable," adds W. Henson Moore, U.S. deputy secretary of energy.@@@@1@14@@oe@2-2-2013
20725034@unknown@formal@none@1@S@"I don't see anything on the horizon that could lead to a precipitous rise in the price."@@@@1@17@@oe@2-2-2013
20725035@unknown@formal@none@1@S@The catalyst for all this has been OPEC.@@@@1@8@@oe@2-2-2013
20725036@unknown@formal@none@1@S@About a year ago, it ended an on-again, off-again internal production war that had put prices on a roller coaster and pitched oil towns from Houston to Caracas into recession.@@@@1@30@@oe@2-2-2013
20725037@unknown@formal@none@1@S@Saudi Arabia, OPEC's kingpin, abandoned a policy of flooding the market to punish quota-cheaters.@@@@1@14@@oe@2-2-2013
20725038@unknown@formal@none@1@S@About the same time, the Iran-Iraq war, which was roiling oil markets, ended.@@@@1@13@@oe@2-2-2013
20725039@unknown@formal@none@1@S@In addition, global petroleum demand has been climbing.@@@@1@8@@oe@2-2-2013
20725040@unknown@formal@none@1@S@It is projected to keep growing by a million barrels a day, or up to 2% annually, for years to come.@@@@1@21@@oe@2-2-2013
20725041@unknown@formal@none@1@S@For OPEC, that's ideal.@@@@1@4@@oe@2-2-2013
20725042@unknown@formal@none@1@S@The resulting firm prices and stability "will allow both producers and consumers to plan confidently," says Saudi Arabian Oil Minister Hisham Nazer.@@@@1@22@@oe@2-2-2013
20725043@unknown@formal@none@1@S@OPEC Secretary-General Subroto explains: Consumers offer security of markets, while OPEC provides security of supply.@@@@1@15@@oe@2-2-2013
20725044@unknown@formal@none@1@S@"This is an opportune time to find mutual ways {to prevent} price shocks from happening again," he says.@@@@1@18@@oe@2-2-2013
20725045@unknown@formal@none@1@S@To promote this balance, OPEC now is finally confronting a long-simmering internal problem.@@@@1@13@@oe@2-2-2013
20725046@unknown@formal@none@1@S@At its November meeting, it will try to revise its quotas to satisfy Persian Gulf members that can produce far more oil than their allotments.@@@@1@25@@oe@2-2-2013
20725047@unknown@formal@none@1@S@Being held well below capacity greatly irritates them, and has led to widespread cheating.@@@@1@14@@oe@2-2-2013
20725048@unknown@formal@none@1@S@OPEC has repeatedly raised its self-imposed production ceiling to legitimize some of that unauthorized output.@@@@1@15@@oe@2-2-2013
20725049@unknown@formal@none@1@S@Oil ministers now hope to solve the issue for good through an Iranian proposal that gives a larger share of output to countries with surplus capacity and reduces the shares of those that can't produce more anyway.@@@@1@37@@oe@2-2-2013
20725050@unknown@formal@none@1@S@But "if they walk out without any effort to resolve their problem, production could increase to 23 million or 24 million barrels a day, making for a very troublesome first quarter," warns Nordine Ait-Laoussine, a consultant and former Algerian OPEC delegate.@@@@1@41@@oe@2-2-2013
20725051@unknown@formal@none@1@S@That would send prices plummeting from what some gun-shy U.S. oil executives still regard as too low a level.@@@@1@19@@oe@2-2-2013
20725052@unknown@formal@none@1@S@Patrick J. Early, president of Amoco Corp.'s oil-production unit, says that despite recent stability, he plans continued tightening of costs and exploration spending.@@@@1@23@@oe@2-2-2013
20725053@unknown@formal@none@1@S@The view of some others in Big Oil, he maintains, "is very much {similar to} Amoco's outlook."@@@@1@17@@oe@2-2-2013
20725054@unknown@formal@none@1@S@Just this week Mobil Corp. disclosed new cutbacks in its domestic exploration and production operations.@@@@1@15@@oe@2-2-2013
20725055@unknown@formal@none@1@S@Out here on the Querecho Plains of New Mexico, however, the mood is more upbeat; trucks rumble along the dusty roads and burly men in hard hats sweat and swear through the afternoon sun.@@@@1@34@@oe@2-2-2013
20725056@unknown@formal@none@1@S@Santa Fe Energy Co., a unit of Santa Fe Southern Pacific Co., bought from Amoco the rights that allowed it to drill the Sharpshooter.@@@@1@24@@oe@2-2-2013
20725057@unknown@formal@none@1@S@A mile and a half away looms the 150-foot-tall rig of the Sniper, due to be pumping by December.@@@@1@19@@oe@2-2-2013
20725058@unknown@formal@none@1@S@"Talk is that everybody is going to drill more wells," says foreman Tommy Folsom.@@@@1@14@@oe@2-2-2013
20725059@unknown@formal@none@1@S@Santa Fe aims to drill about 30 wells in this area in 1989 and double that next year.@@@@1@18@@oe@2-2-2013
20725060@unknown@formal@none@1@S@It is more aggressive than most, but it isn't the only company with a new attitude, as it found when it went looking for a partner for the Sharpshooter.@@@@1@29@@oe@2-2-2013
20725061@unknown@formal@none@1@S@"We went to six companies over two days pitching the prospect," says Tim Parker, a Santa Fe exploration manager.@@@@1@19@@oe@2-2-2013
20725062@unknown@formal@none@1@S@"Five were interested."@@@@1@3@@oe@2-2-2013
20725063@unknown@formal@none@1@S@Mitchell Energy & Development Corp. became the partner, ponying up more than half of the $600,000 in drilling and start-up costs.@@@@1@21@@oe@2-2-2013
20725064@unknown@formal@none@1@S@Mitchell will get a half-interest in the oil.@@@@1@8@@oe@2-2-2013
20725065@unknown@formal@none@1@S@"A kind of no-mistakes mentality" had been stifling activity, says Don Covey, Mitchell's oil exploration chief.@@@@1@16@@oe@2-2-2013
20725066@unknown@formal@none@1@S@Now "everybody is a lot more optimistic."@@@@1@7@@oe@2-2-2013
20725067@unknown@formal@none@1@S@One attraction for oil operators here and in other fields is the bargain-basement cost of drilling and equipment, reflecting service companies' hunger for work.@@@@1@24@@oe@2-2-2013
20725068@unknown@formal@none@1@S@Kadane Oil Co., a small Texas independent, is currently drilling two wells itself and putting money into three others.@@@@1@19@@oe@2-2-2013
20725069@unknown@formal@none@1@S@One of its wells, in southwestern Oklahoma, is a "rank wildcat," a risky well where oil previously hasn't been found.@@@@1@20@@oe@2-2-2013
20725070@unknown@formal@none@1@S@"At this price, $18 plus or minus, and with costs being significantly less than they were several years ago, the economics are pretty good," says George Kadane, head of the company.@@@@1@31@@oe@2-2-2013
20725071@unknown@formal@none@1@S@"If you know you've got stability in price, you can do things you wouldn't do with the volatility of the past few years."@@@@1@23@@oe@2-2-2013
20725072@unknown@formal@none@1@S@The activity is enough to move some oil-service prices back up a little.@@@@1@13@@oe@2-2-2013
20725073@unknown@formal@none@1@S@Some drill-bit prices have risen 5% in the past month.@@@@1@10@@oe@2-2-2013
20725074@unknown@formal@none@1@S@In the Gulf of Mexico, a boat to deliver supplies to offshore rigs now costs around $3,000 a day, up nearly 60% since June.@@@@1@24@@oe@2-2-2013
20725075@unknown@formal@none@1@S@Some service boats recently were auctioned for about $1.7 million each, up from less than $1 million two years ago.@@@@1@20@@oe@2-2-2013
20725076@unknown@formal@none@1@S@At the bottom of the slump, Schlumberger Inc. was discounting 75% on an electronic evaluation of a well; now it discounts about 50%, drillers say.@@@@1@25@@oe@2-2-2013
20725077@unknown@formal@none@1@S@Still, there is money to be made.@@@@1@7@@oe@2-2-2013
20725078@unknown@formal@none@1@S@Most oil companies, when they set exploration and production budgets for this year, forecast revenue of $15 for each barrel of crude produced.@@@@1@23@@oe@2-2-2013
20725079@unknown@formal@none@1@S@Prices have averaged more than $2 a barrel higher than that -- not a windfall, but at least a pleasant bonus for them.@@@@1@23@@oe@2-2-2013
20725080@unknown@formal@none@1@S@So, according to a Dun & Bradstreet Corp. survey, companies that had been refusing to spend even their very conservative budgets may loosen up before year end.@@@@1@27@@oe@2-2-2013
20725081@unknown@formal@none@1@S@It says 40% of those surveyed report that 1989 exploration spending will exceed 1988's.@@@@1@14@@oe@2-2-2013
20725082@unknown@formal@none@1@S@Funds for drilling may inch up more next year if oil prices stay stable.@@@@1@14@@oe@2-2-2013
20725083@unknown@formal@none@1@S@Texaco, thinking in terms of $18-to-$19 oil for 1990, may raise spending, especially for low-risk prospects, an official says.@@@@1@19@@oe@2-2-2013
20725084@unknown@formal@none@1@S@Outside investors, scarce since '86, are edging back.@@@@1@8@@oe@2-2-2013
20725085@unknown@formal@none@1@S@Although "it's still difficult to raise money for a pure wildcat program," says William Thomas, a Texas Commerce Bank official in Houston, "institutions are starting to see there are cycles to these things, and this one is beginning to turn."@@@@1@40@@oe@2-2-2013
20725086@unknown@formal@none@1@S@Wall Street generally likes the industry again.@@@@1@7@@oe@2-2-2013
20725087@unknown@formal@none@1@S@The appetite for oil-service stocks has been especially strong, although some got hit yesterday when Shearson Lehman Hutton cut its short-term investment ratings on them.@@@@1@25@@oe@2-2-2013
20725088@unknown@formal@none@1@S@Contractors such as Parker Drilling Co. are raising cash again through stock offerings, and for the first time in years, two oil-service companies recently went public.@@@@1@26@@oe@2-2-2013
20725089@unknown@formal@none@1@S@(They are Grace Energy Corp. of Dallas and Marine Drilling Co. of Houston.)@@@@1@13@@oe@2-2-2013
20725090@unknown@formal@none@1@S@Most oil companies are still reluctant to add to the office and professional staffs they slashed so deeply.@@@@1@18@@oe@2-2-2013
20725091@unknown@formal@none@1@S@But a few new spots are opening.@@@@1@7@@oe@2-2-2013
20725092@unknown@formal@none@1@S@Arthur Andersen, the accounting firm, has increased its energy staff 10% in a year.@@@@1@14@@oe@2-2-2013
20725093@unknown@formal@none@1@S@Out in the oil fields, if activity picks up much more, shortages could appear because so many roughnecks, roustabouts and others left after the crash.@@@@1@25@@oe@2-2-2013
20725094@unknown@formal@none@1@S@Already "it's hard to get people.@@@@1@6@@oe@2-2-2013
20725095@unknown@formal@none@1@S@They're so busy," says one Santa Fe drilling foreman here.@@@@1@10@@oe@2-2-2013
20725096@unknown@formal@none@1@S@For most field workers, it's about time.@@@@1@7@@oe@2-2-2013
20725097@unknown@formal@none@1@S@Mr. Ramirez, who arrived late at the Sharpshooter with his crew because he had started early in the morning setting up tanks at another site, just got the first raise he can remember in eight years, to $8.50 an hour from $8.@@@@1@42@@oe@2-2-2013
20725098@unknown@formal@none@1@S@Norman Young, a "mud-logger" at the Sniper well, has worked all but about nine days of this year.@@@@1@18@@oe@2-2-2013
20725099@unknown@formal@none@1@S@Last year, "I was off a straight month, then one time for two to three weeks and another two to three weeks," he says.@@@@1@24@@oe@2-2-2013
20725100@unknown@formal@none@1@S@Butch McCarty, who sells oil-field equipment for Davis Tool Co., is also busy.@@@@1@13@@oe@2-2-2013
20725101@unknown@formal@none@1@S@A native of the area, he is back now after riding the oil-field boom to the top, then surviving the bust running an Oklahoma City convenience store.@@@@1@27@@oe@2-2-2013
20725102@unknown@formal@none@1@S@"First year I came back there wasn't any work," he says.@@@@1@11@@oe@2-2-2013
20725103@unknown@formal@none@1@S@"I think it's on the way back now.@@@@1@8@@oe@2-2-2013
20725104@unknown@formal@none@1@S@But it won't be a boom again.@@@@1@7@@oe@2-2-2013
20725105@unknown@formal@none@1@S@No major booms, no major setbacks," he predicts.@@@@1@8@@oe@2-2-2013
20725106@unknown@formal@none@1@S@Business has been good enough that he just took a spur-of-the-moment weekend trip to the mountain area of Cloudcroft, something "I haven't done in years."@@@@1@25@@oe@2-2-2013
20725107@unknown@formal@none@1@S@The figures confirm that there certainly isn't any drilling boom.@@@@1@10@@oe@2-2-2013
20725108@unknown@formal@none@1@S@Only 14,505 wells, including 4,900 dry holes, were drilled for oil and natural gas in the U.S. in the first nine months of the year, down 22.4% from the like 1988 period.@@@@1@32@@oe@2-2-2013
20725109@unknown@formal@none@1@S@But that was off less than at midyear, when completions lagged by 27.1%.@@@@1@13@@oe@2-2-2013
20725110@unknown@formal@none@1@S@And the number of rigs active in the U.S. is inching up.@@@@1@12@@oe@2-2-2013
20725111@unknown@formal@none@1@S@According to Baker Hughes Inc., 992 rotary rigs were at work in the U.S. last week, up from the year-ago count of 933.@@@@1@23@@oe@2-2-2013
20725112@unknown@formal@none@1@S@(In 1981, before the bust, the rig count was above 4,000.)@@@@1@11@@oe@2-2-2013
20725113@unknown@formal@none@1@S@Global offshore-rig use shows a similar upward trend.@@@@1@8@@oe@2-2-2013
20725114@unknown@formal@none@1@S@Some equipment going to work is almost new.@@@@1@8@@oe@2-2-2013
20725115@unknown@formal@none@1@S@Grace Energy just two weeks ago hauled a rig here 500 miles from Caspar, Wyo., to drill the Bilbrey well, a 15,000-foot, $1-million-plus natural gas well.@@@@1@26@@oe@2-2-2013
20725116@unknown@formal@none@1@S@The rig was built around 1980, but has drilled only two wells, the last in 1982.@@@@1@16@@oe@2-2-2013
20725117@unknown@formal@none@1@S@Until now it had sat idle.@@@@1@6@@oe@2-2-2013
20725118@unknown@formal@none@1@S@For Zel Herring, owner and a cook at the Sandhills Luncheon Cafe, a tin building in midtown, all this has made for a very good year.@@@@1@26@@oe@2-2-2013
20725119@unknown@formal@none@1@S@After 11:30 a.m. or so "we have them standing and waiting," she says, as she whips out orders for hamburgers and the daily special (grilled roast beef, cheese and jalapeno pepper sandwich on whole wheat, potato salad, baked beans and pudding, plus coffee or iced tea.@@@@1@46@@oe@2-2-2013
20725120@unknown@formal@none@1@S@Price: $4.50).@@@@1@2@@oe@2-2-2013
20725121@unknown@formal@none@1@S@Mike Huber, a roustabout, is even making it in his new career as an entrepreneur.@@@@1@15@@oe@2-2-2013
20725122@unknown@formal@none@1@S@He started Arrow Roustabouts Inc. a year ago with a loan from a friend, since repaid, and now employs 15.@@@@1@20@@oe@2-2-2013
20725123@unknown@formal@none@1@S@He got three trucks and a backhoe cheap.@@@@1@8@@oe@2-2-2013
20725124@unknown@formal@none@1@S@"I want to add one more truck," Mr. Huber says.@@@@1@10@@oe@2-2-2013
20725125@unknown@formal@none@1@S@I sense that it's going to continue to grow.@@@@1@9@@oe@2-2-2013
20725126@unknown@formal@none@1@S@That's the word.@@@@1@3@@oe@2-2-2013
20725127@unknown@formal@none@1@S@The word is out.@@@@1@4@@oe@2-2-2013
20726001@unknown@formal@none@1@S@Eight people, including a supervisor of Security Pacific National Bank's central vault, were arrested in an investigation of an alleged drug money-laundering operation.@@@@1@23@@oe@2-2-2013
20726002@unknown@formal@none@1@S@The U.S. Attorney's office filed a criminal complaint against six bank employees charging them with conspiracy in the scheme, which apparently was capable of handling millions of dollars a week by funneling cash through fictitious bank accounts.@@@@1@37@@oe@2-2-2013
20726003@unknown@formal@none@1@S@Two other men also were charged with participating in the operation.@@@@1@11@@oe@2-2-2013
20726004@unknown@formal@none@1@S@The arrests capped a four-month investigation by the Internal Revenue Service, the U.S. Attorney's office and a Security Pacific internal investigation team.@@@@1@22@@oe@2-2-2013
20726005@unknown@formal@none@1@S@Walter S. Fisher, executive vice president and general auditor of the bank's parent, Security Pacific Corp., said no bank funds were at risk during the investigation.@@@@1@26@@oe@2-2-2013
20726006@unknown@formal@none@1@S@Arrested were Jose O. Lopez, 27 years old, of Whittier, Calif., the vault supervisor; Carlos O. Huerta, 29, of La Puente; Luis A. Arroyo, 36, of Los Angeles; Ignacio Rojas Jr., 32, of Baldwin Park; Doris Moreno, 37, of Bell Gardens; and Ana L. Azucena, 27, of Huntington Park.@@@@1@49@@oe@2-2-2013
20726007@unknown@formal@none@1@S@Geno M. Apicella, 27, of Los Angeles, and Terrell N. Madison, 27, of Hawthorne, were also charged with participating in the conspiracy.@@@@1@22@@oe@2-2-2013
20726008@unknown@formal@none@1@S@Each defendant faces a possible sentence of 20 years in prison and $250,000 in fines.@@@@1@15@@oe@2-2-2013
20726009@unknown@formal@none@1@S@The defendants couldn't immediately be reached for comment.@@@@1@8@@oe@2-2-2013
20727001@unknown@formal@none@1@S@S.A. Brewing Holdings Ltd. began laying the groundwork to launch a rival offer for Bond Corp. Holdings Ltd.'s Australian brewing operations.@@@@1@21@@oe@2-2-2013
20727002@unknown@formal@none@1@S@Such an offer could torpedo a plan by Lion Nathan Ltd. of New Zealand to acquire half the brewing interests.@@@@1@20@@oe@2-2-2013
20727003@unknown@formal@none@1@S@But it would probably increase the amount of cash that debt-ridden Bond Corp. would earn from the transaction.@@@@1@18@@oe@2-2-2013
20727004@unknown@formal@none@1@S@Australia's National Companies and Securities Commission said it will allow S.A. Brewing to acquire an option on as much as 20% of Bell Resources Ltd., a unit of Bond Corp. that is in the process of acquiring Bond Corp.'s brewing businesses for 2.5 billion Australian dollars (US$1.93 billion).@@@@1@48@@oe@2-2-2013
20727005@unknown@formal@none@1@S@S.A. Brewing, which is 20%-owned by Elders IXL Ltd., Australia's largest brewer, will make a takeover offer for all of Bell Resources if it exercises the option, the corporate regulators said in a statement.@@@@1@34@@oe@2-2-2013
20727006@unknown@formal@none@1@S@Bond Corp., a brewing, property, media and resources concern controlled by financier Alan Bond, is selling many of its assets to reduce an A$6.9 billion debt.@@@@1@26@@oe@2-2-2013
20728001@unknown@formal@none@1@S@Contrary to what might be expected based on the headline on John R. Dorfman's recent Money Matters article ("Pros Hit Theorists Right Where It Hurts" Oct. 3), I was able to stand proudly before my undergraduate finance students and proclaim that the findings of your yearlong experiment on stock picking is completely consistent with what they have been taught in the classroom.@@@@1@62@@oe@2-2-2013
20728002@unknown@formal@none@1@S@In particular, I do not find the fact that your group of pros' monthly selections of four stocks outperforms the market in general to be inconsistent with market efficiency.@@@@1@29@@oe@2-2-2013
20728003@unknown@formal@none@1@S@Mr. Dorfman states that an investor who invested $100,000 a year ago in the first four stocks selected by your pros and then sold those one month later, purchasing the four new pro picks, and repeated this process for the year would have accumulated $166,537, excluding account dividends, taxes and commissions.@@@@1@51@@oe@2-2-2013
20728004@unknown@formal@none@1@S@In contrast, an investor holding the Dow Jones portfolio over the year would have accumulated only $127,446.@@@@1@17@@oe@2-2-2013
20728005@unknown@formal@none@1@S@Accepted theories of asset pricing offer a perfectly legitimate explanation.@@@@1@10@@oe@2-2-2013
20728006@unknown@formal@none@1@S@Accepted theories state that investors require higher returns on riskier investments.@@@@1@11@@oe@2-2-2013
20728007@unknown@formal@none@1@S@Thus, rather than seeing the excess returns to the pro-selected portfolio as being abnormal, I see those returns as simply compensations for taking on added risk.@@@@1@26@@oe@2-2-2013
20728008@unknown@formal@none@1@S@I believe the risk for each individual stock selected by your pros is very large.@@@@1@15@@oe@2-2-2013
20728009@unknown@formal@none@1@S@If you asked me to select a stock with the highest expected return, I would select a stock with the greatest amount of undiversifiable risk, as I am sure your pros do.@@@@1@32@@oe@2-2-2013
20728010@unknown@formal@none@1@S@Your hypothetical investor is simply being compensated for taking on this added risk.@@@@1@13@@oe@2-2-2013
20728011@unknown@formal@none@1@S@Moreover, your hypothetical investor has forsaken the gains to be had in reducing risk by diversifying his portfolio.@@@@1@18@@oe@2-2-2013
20728012@unknown@formal@none@1@S@A four-stock portfolio is still exposed to a great deal of unnecessary risk.@@@@1@13@@oe@2-2-2013
20728013@unknown@formal@none@1@S@This means the returns can vary a great deal.@@@@1@9@@oe@2-2-2013
20728014@unknown@formal@none@1@S@Mr. Dorfman provides confirming evidence of this phenomenon when he reports that your staff of dart throwers would have accumulated only $112,383 by randomly selecting four new stocks to be held in a portfolio each month.@@@@1@36@@oe@2-2-2013
20728015@unknown@formal@none@1@S@Scott E. Hein Texas Tech University Lubbock, Texas Your Investment Dartboard article misses the target.@@@@1@15@@oe@2-2-2013
20728016@unknown@formal@none@1@S@The fact that stock pickers have bested a randomly selected portfolio in eight of 12 months has no bearing on the efficient-market theory.@@@@1@23@@oe@2-2-2013
20728017@unknown@formal@none@1@S@What matters is that the stocks recommended by your pros tend to be substantially riskier than a diversified portfolio.@@@@1@19@@oe@2-2-2013
20728018@unknown@formal@none@1@S@For example, your pickers' recommendations for the coming month are, on average, 22.5% riskier than holding the market portfolio according to Value Line's Beta estimates.@@@@1@25@@oe@2-2-2013
20728019@unknown@formal@none@1@S@James Morgan's pick for October -- Dynascan -- is a substantial 35% riskier than the market portfolio; his lauded Thermo Electron pick is 40% riskier.@@@@1@25@@oe@2-2-2013
20728020@unknown@formal@none@1@S@Eric C. Meltzer@@@@1@3@@oe@2-2-2013
20729001@unknown@formal@none@1@S@Peter W. Likins, president of Lehigh University, Bethlehem, Pa., was elected a director of this maker of industrial motion-control parts and systems.@@@@1@22@@oe@2-2-2013
20729002@unknown@formal@none@1@S@His appointment expands the board to 13 members.@@@@1@8@@oe@2-2-2013
20730001@unknown@formal@none@1@S@California Thefts Make Travel Agents Jittery@@@@1@6@@oe@2-2-2013
20730002@unknown@formal@none@1@S@BEING A TRAVEL agent used to be pretty glamorous.@@@@1@9@@oe@2-2-2013
20730003@unknown@formal@none@1@S@Now it's getting downright dangerous.@@@@1@5@@oe@2-2-2013
20730004@unknown@formal@none@1@S@In recent months, more than 25 agencies have been robbed, compared with only a handful all last year, according to police and travel-agency groups.@@@@1@24@@oe@2-2-2013
20730005@unknown@formal@none@1@S@Most of the cases have been in California, where one agent was stabbed and another was shot and killed.@@@@1@19@@oe@2-2-2013
20730006@unknown@formal@none@1@S@Los Angeles police say the thieves seem to be part of a crime network that knows how to convert blank tickets into real ones.@@@@1@24@@oe@2-2-2013
20730007@unknown@formal@none@1@S@Already, the stolen tickets have been used for flights all over the world.@@@@1@13@@oe@2-2-2013
20730008@unknown@formal@none@1@S@So far, the thieves have stolen 3,632 blank tickets, according to Airline Reporting Corp., a ticket processing center.@@@@1@18@@oe@2-2-2013
20730009@unknown@formal@none@1@S@Police say the robberies are usually pulled off by two to five men, who walk into the agencies near closing or lunch time, when few employees are there.@@@@1@28@@oe@2-2-2013
20730010@unknown@formal@none@1@S@"They looked like ordinary vacationers at first," says Willy LLerena, owner of Travel Air Service in Monte Bello, Calif., describing five men who entered his agency last June.@@@@1@28@@oe@2-2-2013
20730011@unknown@formal@none@1@S@But then, he says, they put two loaded pistols to his temple and demanded he open the safe.@@@@1@18@@oe@2-2-2013
20730012@unknown@formal@none@1@S@When he initially refused, he says, they stabbed him in the back and made off with $2,000 and 280 blank tickets.@@@@1@21@@oe@2-2-2013
20730013@unknown@formal@none@1@S@"They said they wanted to show me how serious they were," he says.@@@@1@13@@oe@2-2-2013
20730014@unknown@formal@none@1@S@As word of the crime spree has spread, many agents have started changing their open-door policies.@@@@1@16@@oe@2-2-2013
20730015@unknown@formal@none@1@S@At El Monte Travel Center in El Monte, Calif., customers now can get in only through a buzzer and lock system.@@@@1@21@@oe@2-2-2013
20730016@unknown@formal@none@1@S@"It's hard to deal with clients this way in a service business," says Ralph "Bud" Conner, owner of the agency, which was robbed of 180 blank tickets and $850 last month.@@@@1@31@@oe@2-2-2013
20730017@unknown@formal@none@1@S@"But we're just too nervous."@@@@1@5@@oe@2-2-2013
20730018@unknown@formal@none@1@S@The robberies also have set off a controversy involving the airlines.@@@@1@11@@oe@2-2-2013
20730019@unknown@formal@none@1@S@Agents say airlines, which track ticket numbers of all stolen tickets, should be doing more to catch the thieves by confiscating the tickets when they're used.@@@@1@26@@oe@2-2-2013
20730020@unknown@formal@none@1@S@"They have the most sophisticated computers in the world," says Mr. LLerena.@@@@1@12@@oe@2-2-2013
20730021@unknown@formal@none@1@S@"They ought to be able to do this."@@@@1@8@@oe@2-2-2013
20730022@unknown@formal@none@1@S@But airlines say it would be too expensive and cause too many delays if they started using computerized scanners to check tickets at the gate.@@@@1@25@@oe@2-2-2013
20730023@unknown@formal@none@1@S@Texans Get Reasonable Car Rental Insurance@@@@1@6@@oe@2-2-2013
20730024@unknown@formal@none@1@S@CONSUMER advocates have long claimed that car rental companies charge too much for car rental insurance.@@@@1@16@@oe@2-2-2013
20730025@unknown@formal@none@1@S@Now, a new law in Texas seems to be providing the proof.@@@@1@12@@oe@2-2-2013
20730026@unknown@formal@none@1@S@The law -- the first of its kind -- requires car rental companies in Texas to charge only "reasonable" rates for collision-damage waiver insurance.@@@@1@24@@oe@2-2-2013
20730027@unknown@formal@none@1@S@Specifically, the law says the rates must closely reflect what the company's actual expenses have been to replace damaged cars.@@@@1@20@@oe@2-2-2013
20730028@unknown@formal@none@1@S@Before the law went into effect last month, car rental companies were charging as much as $12 a day for the waiver in Texas.@@@@1@24@@oe@2-2-2013
20730029@unknown@formal@none@1@S@Now, they're charging as little $3 a day.@@@@1@8@@oe@2-2-2013
20730030@unknown@formal@none@1@S@"If they're telling the truth now, then they've been charging 300% more than what is reasonable," says Steve Gardner, an assistant state attorney general in Texas.@@@@1@26@@oe@2-2-2013
20730031@unknown@formal@none@1@S@A spokesman for Hertz Corp. acknowledges, "The waiver isn't a source of protection for consumers, but a source of revenue."@@@@1@20@@oe@2-2-2013
20730032@unknown@formal@none@1@S@But Hertz points out that at least it's now charging only $3.95 a day in Texas, while some competitors are charging $6.99.@@@@1@22@@oe@2-2-2013
20730033@unknown@formal@none@1@S@The state attorney general's office is investigating rental car agencies charging noticeably higher prices.@@@@1@14@@oe@2-2-2013
20730034@unknown@formal@none@1@S@Flight Attendants Lag Before Jets Even Land@@@@1@7@@oe@2-2-2013
20730035@unknown@formal@none@1@S@IF YOUR FLIGHT attendant seems a little weary, it may be because he or she has been working 20 straight hours.@@@@1@21@@oe@2-2-2013
20730036@unknown@formal@none@1@S@A recent study for the Federal Aviation Administration found that major airlines sometimes make flight attendants work 16 hours or more straight -- despite union contracts at some airlines limiting duty time to 14 hours.@@@@1@35@@oe@2-2-2013
20730037@unknown@formal@none@1@S@Some flight attendants on charter planes are putting in 20-hour work days, the study found.@@@@1@15@@oe@2-2-2013
20730038@unknown@formal@none@1@S@This happens because the FAA doesn't have any rules on duty time for flight attendants; by contrast, it strictly restricts duty time for pilots and air traffic controllers, usually to a maximum of 10 consecutive hours.@@@@1@36@@oe@2-2-2013
20730039@unknown@formal@none@1@S@"As far as the FAA is concerned," says Matt Finucane, air safety director at the Association of Flight Attendants, "flight attendants can work an unlimited number of hours."@@@@1@28@@oe@2-2-2013
20730040@unknown@formal@none@1@S@Experts say such long hours for attendants pose a safety risk.@@@@1@11@@oe@2-2-2013
20730041@unknown@formal@none@1@S@For instance, tired flight attendants might not react quickly enough during an emergency evacuation.@@@@1@14@@oe@2-2-2013
20730042@unknown@formal@none@1@S@"At the end of their day, they are zombies," says John Galipault, president of the Aviation Safety Institute, a public-interest group in Worthington, Ohio.@@@@1@24@@oe@2-2-2013
20730043@unknown@formal@none@1@S@"They have to work such long hours and then we expect them to be heroes if there's an evacuation."@@@@1@19@@oe@2-2-2013
20730044@unknown@formal@none@1@S@In response to the study, the FAA says it is considering changing its policy -- or lack of it -- on flight attendants.@@@@1@23@@oe@2-2-2013
20730045@unknown@formal@none@1@S@The agency may not have much choice: A congressional bill has been introduced that would force the agency to limit flight attendant duty time to 14 hours on U.S. flights and 16 hours on international trips.@@@@1@36@@oe@2-2-2013
20730046@unknown@formal@none@1@S@Odds and Ends@@@@1@3@@oe@2-2-2013
20730047@unknown@formal@none@1@S@GOLF HAS BECOME the latest diversion for travelers stuck at some airports.@@@@1@12@@oe@2-2-2013
20730048@unknown@formal@none@1@S@Simulated golf games, in which players hit golf balls into nets, have been installed at airports in Denver and Pittsburgh. . . .@@@@1@23@@oe@2-2-2013
20730049@unknown@formal@none@1@S@The average cost for breakfast at a "decent" hotel restaurant in New York is $17.12, according to Corporate Travel magazine.@@@@1@20@@oe@2-2-2013
20730050@unknown@formal@none@1@S@The cheapest, among 100 cities surveyed, was $5.11 in El Paso, Texas.@@@@1@12@@oe@2-2-2013
20731001@unknown@formal@none@1@S@Mark Q. Huggins was named executive vice president and chief financial officer.@@@@1@12@@oe@2-2-2013
20731002@unknown@formal@none@1@S@Mr. Huggins, 39 years old, formerly was controller and chief accounting officer at Harte-Hanks Communications Inc.@@@@1@16@@oe@2-2-2013
20731003@unknown@formal@none@1@S@Management Co. manages entertainers and produces, markets and finances entertainment.@@@@1@10@@oe@2-2-2013
20732001@unknown@formal@none@1@S@Why do you continually ignore the salubrious effects of indexing the basis of capital gains for inflation?@@@@1@17@@oe@2-2-2013
20732002@unknown@formal@none@1@S@Why do you maintain the House-passed capital-gains plan is a "temporary" reduction when it is not?@@@@1@16@@oe@2-2-2013
20732003@unknown@formal@none@1@S@I think the reason is that you are confusing tax "rates" with tax "payments."@@@@1@14@@oe@2-2-2013
20732004@unknown@formal@none@1@S@Your Sept. 29 page-one story on the House-passed capital-gains plan is a good example.@@@@1@14@@oe@2-2-2013
20732005@unknown@formal@none@1@S@You lead readers to believe that the House reduced the capital-gains tax for two years only.@@@@1@16@@oe@2-2-2013
20732006@unknown@formal@none@1@S@You virtually ignore the tax-reducing power of indexation, which in many cases is more substantial than a lower rate.@@@@1@19@@oe@2-2-2013
20732007@unknown@formal@none@1@S@The monetary tax benefit of indexation for all gains in excess of inflation can be measured using the following equation: tax rate, times inflation rate, times basis for the gain.@@@@1@30@@oe@2-2-2013
20732008@unknown@formal@none@1@S@Depending on the size of the gain and the rate of inflation, indexation can mean a lower tax payment than using the 19.6% rate without indexation.@@@@1@26@@oe@2-2-2013
20732009@unknown@formal@none@1@S@But in any event -- and this is the important point -- tax "payments" on capital gains will be lower with indexation than under current law, even though the tax "rate" is the same under both systems.@@@@1@37@@oe@2-2-2013
20732010@unknown@formal@none@1@S@As you can see, the capital-gains reduction plan adopted by the House would not be temporary, but permanent.@@@@1@18@@oe@2-2-2013
20732011@unknown@formal@none@1@S@I hope that you begin talking about the plan's permanent and, in my view, most beneficial feature -- indexation.@@@@1@19@@oe@2-2-2013
20732012@unknown@formal@none@1@S@Rep. Robert K. Dornan (R., Calif.) Washington@@@@1@7@@oe@2-2-2013
20732013@unknown@formal@none@1@S@That the motivation for the two-year reduction to 19.6% is budgetary does not mean it is not in the public interest.@@@@1@21@@oe@2-2-2013
20732014@unknown@formal@none@1@S@The reduction eases the burden on portfolio changes and frees capital to seek more productive or more appropriate uses.@@@@1@19@@oe@2-2-2013
20732015@unknown@formal@none@1@S@But what is really significant is the indexation of capital gains after 1991.@@@@1@13@@oe@2-2-2013
20732016@unknown@formal@none@1@S@To argue that this is "not likely" to affect the economy in positive ways is contrary both to recent experience with capital-gains tax cuts and to common sense.@@@@1@28@@oe@2-2-2013
20732017@unknown@formal@none@1@S@A large part of the long-term appreciation of assets reflects inflation, and the taxation of inflation-created capital gains is confiscation.@@@@1@20@@oe@2-2-2013
20732018@unknown@formal@none@1@S@Does the Journal really believe that people ignore the prospect of having a substantial part of their capital confiscated when they decide whether to save or how to invest?@@@@1@29@@oe@2-2-2013
20732019@unknown@formal@none@1@S@Under current law, it is not financially rational to forgo consumption.@@@@1@11@@oe@2-2-2013
20732020@unknown@formal@none@1@S@Real, aftertax returns from financial assets are on the order of 1% or 2% a year.@@@@1@16@@oe@2-2-2013
20732021@unknown@formal@none@1@S@The capital-gains tax reform is a step toward correcting one of the gravest structural weaknesses of the U.S. economy, the closely connected phenomena of low savings rates, weak capital formation and high capital costs.@@@@1@34@@oe@2-2-2013
20732022@unknown@formal@none@1@S@J. Sigurd Nielsen Richmond, Va.@@@@1@5@@oe@2-2-2013
20733001@unknown@formal@none@1@S@Isaac Hersly, 41 years old, was elected president and chief operating officer of this designer and marketer of graphics, video, cable and other television-related equipment.@@@@1@25@@oe@2-2-2013
20733002@unknown@formal@none@1@S@He succeeds Alfred O.P. Leubert, 66, who continues as chairman and chief executive officer.@@@@1@14@@oe@2-2-2013
20733003@unknown@formal@none@1@S@Mr. Hersly formerly was group vice president of marketing and product planning for Chyron and president of the telesystems and video products division.@@@@1@23@@oe@2-2-2013
20734001@unknown@formal@none@1@S@W.R. Grace & Co. said it formed a new horticultural-products company by combining its soil-nutrients and fertilizers business with Sierra Chemical Co., Milpitas, Calif.@@@@1@24@@oe@2-2-2013
20734002@unknown@formal@none@1@S@Grace, a maker of specialty chemicals that already owned about 30% of closely held Sierra, said it owns a 49% stake in the new company.@@@@1@25@@oe@2-2-2013
20734003@unknown@formal@none@1@S@Grace said it didn't invest any additional capital in the venture, which will be known as Grace-Sierra Horticultural Products Co.@@@@1@20@@oe@2-2-2013
20734004@unknown@formal@none@1@S@The business is expected to have sales of about $100 million in 1990, Grace said.@@@@1@15@@oe@2-2-2013
20734005@unknown@formal@none@1@S@The new company's product lines will be aimed at nurseries, greenhouses and the lawn and garden industry.@@@@1@17@@oe@2-2-2013
20735001@unknown@formal@none@1@S@The Financial Accounting Standards Board said it will soon issue a rule requiring disclosure about the financial risk of certain financial instruments.@@@@1@22@@oe@2-2-2013
20735002@unknown@formal@none@1@S@But the chief rule-making body for accountants backed off one part of its original proposal made earlier this year that would have required a breakdown of certain balance-sheet items related to off-balance sheet instruments.@@@@1@34@@oe@2-2-2013
20735003@unknown@formal@none@1@S@The balance-sheet detail was opposed by many banks and thrifts that felt the cost of supplying such data wasn't worth the value of the disclosures.@@@@1@25@@oe@2-2-2013
20735004@unknown@formal@none@1@S@Under the initial proposal, for example, banks would have been required to disclose that portion of allowances for loan losses that reflects specific letters of credit for which customers had defaulted.@@@@1@31@@oe@2-2-2013
20735005@unknown@formal@none@1@S@The final rule won't require such a breakdown of the allowances for loan losses, which appears on the balance sheet.@@@@1@20@@oe@2-2-2013
20735006@unknown@formal@none@1@S@The FASB rule will cover such financial instruments as interest rate swaps, financial guarantees, foward interest rate contracts, loan contracts, loan commitments and options written on securites held.@@@@1@28@@oe@2-2-2013
20735007@unknown@formal@none@1@S@It will require companies to spell out in more detail collateral polices and concentrations of credit risk for all financial instruments.@@@@1@21@@oe@2-2-2013
20735008@unknown@formal@none@1@S@The rule will require companies with financial instruments that have off-balance sheet risks to disclose data about the value and terms of the instruments, any accounting loss that would occur if the outside party involved in the instrument failed to perform, and the company's policy for requiring collateral or other security for the instrument.@@@@1@54@@oe@2-2-2013
20735009@unknown@formal@none@1@S@Scott Miller, an FASB project manager, said that a final rule will be issued before year end.@@@@1@17@@oe@2-2-2013
20735010@unknown@formal@none@1@S@But he noted that the initial effective date of the earlier proposal had been delayed by six months.@@@@1@18@@oe@2-2-2013
20736001@unknown@formal@none@1@S@Poughkeepsie Savings Bank said a plan to sell its South Carolina branch offices to First Citizens Bank, of Columbia, S.C., fell through.@@@@1@22@@oe@2-2-2013
20736002@unknown@formal@none@1@S@Poughkeepsie also expects to post a one-time charge of $8.3 million, resulting in a net loss for the third quarter.@@@@1@20@@oe@2-2-2013
20736003@unknown@formal@none@1@S@The charge represents a write-down of the goodwill associated with Poughkeepsie's investment in the banks it is trying to sell and its North Carolina branches as well.@@@@1@27@@oe@2-2-2013
20736004@unknown@formal@none@1@S@The thrift announced the plan Aug. 21.@@@@1@7@@oe@2-2-2013
20736005@unknown@formal@none@1@S@Among other reasons, high fees regulators imposed on certain transfers of thrift deposits to commercial banks "substantially altered the economics of the transaction for both parties," Poughkeepsie said.@@@@1@28@@oe@2-2-2013
20736006@unknown@formal@none@1@S@Additionally, the bank is increasing its loan-loss reserves for the third quarter by $8.5 million before taxes.@@@@1@17@@oe@2-2-2013
20736007@unknown@formal@none@1@S@In the year-earlier third quarter, Poughkeepsie Savings had net income of $2.8 million, or 77 cents a share.@@@@1@18@@oe@2-2-2013
20736008@unknown@formal@none@1@S@Poughkeepsie said it is continuing to try to sell itself, under a June agreement with a dissident-shareholder group.@@@@1@18@@oe@2-2-2013
20736009@unknown@formal@none@1@S@The bank also said its effort would continue past the Nov. 1 deadline set in that agreement and that the litigation between the two sides might resume as a result.@@@@1@30@@oe@2-2-2013
20736010@unknown@formal@none@1@S@The thrift and the holders had suspended their lawsuits as part of the agreement.@@@@1@14@@oe@2-2-2013
20737001@unknown@formal@none@1@S@Joe Frank Sanderson Jr. was elected president and chief executive officer of this poultry producer.@@@@1@15@@oe@2-2-2013
20737002@unknown@formal@none@1@S@Joe Frank Sanderson, who is currently chairman, chief executive and treasurer, will remain chairman.@@@@1@14@@oe@2-2-2013
20737003@unknown@formal@none@1@S@The current president and chief operating officer, J. Odell Johnson, was elected to the new position of vice chairman of the board.@@@@1@22@@oe@2-2-2013
20738001@unknown@formal@none@1@S@Kinder-Care Inc. was dropped from the consumer services industry group of the Dow Jones Equity Market index because the company split itself in a restructuring.@@@@1@25@@oe@2-2-2013
20738002@unknown@formal@none@1@S@It was succeeded in the group by Fuqua Industries Inc.@@@@1@10@@oe@2-2-2013
20738003@unknown@formal@none@1@S@Both moves are effective today.@@@@1@5@@oe@2-2-2013
20739001@unknown@formal@none@1@S@A potentially safer whooping cough vaccine made by novel genetic engineering techniques was described by a team of Italian, U.S. and Japanese scientists.@@@@1@23@@oe@2-2-2013
20739002@unknown@formal@none@1@S@The team reported they managed to induce bacteria to produce a non-toxic version of the poisons produced by the bacterium that causes whooping cough.@@@@1@24@@oe@2-2-2013
20739003@unknown@formal@none@1@S@Laboratory tests showed that non-toxic versions of the poisons are capable of inducing an immunity to whooping cough, the researchers reported in this week's issue of the journal Science.@@@@1@29@@oe@2-2-2013
20739004@unknown@formal@none@1@S@The current vaccine for whooping cough, or pertussis, is part of the "DPT" (for diphtheria, pertussis, tetanus) shot given most infants and young children.@@@@1@24@@oe@2-2-2013
20739005@unknown@formal@none@1@S@The vaccine is effective in preventing a disease that still afflicts about 60 million children a year world-wide, causing an estimated one million deaths.@@@@1@24@@oe@2-2-2013
20739006@unknown@formal@none@1@S@The vaccine, however, causes allergic reactions that can be fatal.@@@@1@10@@oe@2-2-2013
20739007@unknown@formal@none@1@S@The reactions stem from the fact that the vaccine contains multiple copies of the whole Bordetella pertussis bacterium, which causes whooping cough.@@@@1@22@@oe@2-2-2013
20739008@unknown@formal@none@1@S@This bacterium produces a toxin that, if used as a vaccine, can induce immunity to whooping cough.@@@@1@17@@oe@2-2-2013
20739009@unknown@formal@none@1@S@Unfortunately, the toxin is also poisonous.@@@@1@6@@oe@2-2-2013
20739010@unknown@formal@none@1@S@The Italian-led scientific team said they had succeeded in getting bacteria to produce a non-toxic version of the pertussis toxin, which could be used as a safe vaccine.@@@@1@28@@oe@2-2-2013
20739011@unknown@formal@none@1@S@The researchers reported they have been able to pluck the five genes that produced the toxin out of the pertussis bacterium.@@@@1@21@@oe@2-2-2013
20739012@unknown@formal@none@1@S@It turned out that although it took all five genes to produce the toxin, only one was responsible for the toxin's virulence.@@@@1@22@@oe@2-2-2013
20739013@unknown@formal@none@1@S@Ordinarily in genetic engineering each of these genes, minus the one that caused the virulence, would have been transferred to another bacterium, called E. coli, which would then produce a nonvirulent version of the toxin.@@@@1@35@@oe@2-2-2013
20739014@unknown@formal@none@1@S@The researchers said they did this, but the toxin didn't induce immunity to whooping cough.@@@@1@15@@oe@2-2-2013
20739015@unknown@formal@none@1@S@The scientists then took the five toxin genes and triggered a mutation in the one gene that caused virulence.@@@@1@19@@oe@2-2-2013
20739016@unknown@formal@none@1@S@Then, using a new technique (called homologous recombination) for introducing genes into cells, they transferred all five genes to bacteria closely related to the pertussis organism.@@@@1@26@@oe@2-2-2013
20739017@unknown@formal@none@1@S@These bacterial "cousins" ordinarily don't make the toxin.@@@@1@8@@oe@2-2-2013
20739018@unknown@formal@none@1@S@But the genes were accompanied by a piece of DNA, called a promoter, that turns the genes on.@@@@1@18@@oe@2-2-2013
20739019@unknown@formal@none@1@S@The new bacteria recipients of the genes began producing pertussis toxin which, because of the mutant virulence gene, was no longer toxic.@@@@1@22@@oe@2-2-2013
20739020@unknown@formal@none@1@S@Experiments showed that the new, non-virulent toxin is capable of inducing immunity, according to the researchers from the Selavo Research Center in Siena, Italy, the Medical College of Wisconsin in Milwaukee and the Japanese National Institutes of Health.@@@@1@38@@oe@2-2-2013
20740001@unknown@formal@none@1@S@Carl E. Pissocra, president and chief executive officer of Bank One, Dover, has been named regional president, a new post at the bank-holding company.@@@@1@24@@oe@2-2-2013
20740002@unknown@formal@none@1@S@Mr. Pissocra, 56 years old, will be responsible for the company's 10 banks in the Eastern region.@@@@1@17@@oe@2-2-2013
20740003@unknown@formal@none@1@S@Dan J. Hartwell, 41, executive vice president of Bank One, Dover, was named president and chief executive of the Dover bank, succeeding Mr. Pissocra.@@@@1@24@@oe@2-2-2013
20740004@unknown@formal@none@1@S@No one was named to succeed Mr. Hartwell.@@@@1@8@@oe@2-2-2013
20741001@unknown@formal@none@1@S@At a time when foreign banks are pouring vast resources and personnel into West Germany's financial center, the opening of a three-man office on a Frankfurt side street shouldn't attract much attention.@@@@1@32@@oe@2-2-2013
20741002@unknown@formal@none@1@S@Unless, of course, it happens to be run by the Rothschilds.@@@@1@11@@oe@2-2-2013
20741003@unknown@formal@none@1@S@After an 88-year absence from the birthplace of the family banking empire, the return of the Rothschild group to Frankfurt was greeted by the glare of television lights, curious reporters and a mayoral reception in Town Hall.@@@@1@37@@oe@2-2-2013
20741004@unknown@formal@none@1@S@Like other foreign banks establishing a presence here, the family describes its move as a calculated decision to set up a financial services outlet in Europe's largest economy ahead of the integration of European Community markets after 1992.@@@@1@38@@oe@2-2-2013
20741005@unknown@formal@none@1@S@Yet the Rothschilds don't deny an emotional element to the decision.@@@@1@11@@oe@2-2-2013
20741006@unknown@formal@none@1@S@In 1796, Mayer Amschel Rothschild founded Bankhaus M.A. Rothschild & Sons and later sent his four sons to London, Paris, Vienna and Naples to begin the bank's expansion during the early 19th century.@@@@1@33@@oe@2-2-2013
20741007@unknown@formal@none@1@S@The original bank in Frankfurt closed in 1901 after the death of Wilhelm Carl von Rothschild, and the family's banking activities focused on London and Paris.@@@@1@26@@oe@2-2-2013
20741008@unknown@formal@none@1@S@Baron Elie de Rothschild, the family's elder spokesman, explains that by the end of the 19th century, Berlin had replaced Frankfurt as Germany's financial center.@@@@1@25@@oe@2-2-2013
20741009@unknown@formal@none@1@S@Yet the chief reason for the closure, he says, was rooted in a family tradition that wouldn't allow a bank to bear the Rothschild name without a Rothschild in its management.@@@@1@31@@oe@2-2-2013
20741010@unknown@formal@none@1@S@"At the time we had only daughters," explains the 72-year-old patriarch, "so we had to close the bank."@@@@1@18@@oe@2-2-2013
20741011@unknown@formal@none@1@S@Much of the family's mystique remained.@@@@1@6@@oe@2-2-2013
20741012@unknown@formal@none@1@S@Although its palatial residence was destroyed by bombs during World War II, the Rothschilds' place in Frankfurt's history is still recalled by the city park and a street bearing the Rothschild name.@@@@1@32@@oe@2-2-2013
20741013@unknown@formal@none@1@S@The family's long absence is understandable.@@@@1@6@@oe@2-2-2013
20741014@unknown@formal@none@1@S@The family was in Allied countries during both World War I and the long period of economic strife of the 1920s.@@@@1@21@@oe@2-2-2013
20741015@unknown@formal@none@1@S@During the Third Reich, the Rothschilds were a target of Nazi propaganda against Jewish financiers.@@@@1@15@@oe@2-2-2013
20741016@unknown@formal@none@1@S@The persecution pursued the Rothschilds across Europe as the Nazis grabbed countries, confiscating the family's property in the process.@@@@1@19@@oe@2-2-2013
20741017@unknown@formal@none@1@S@American journalist William L. Shirer, in his book "The Rise and Fall of the Third Reich," wrote of how in Vienna he had witnessed "squads of {Nazi} SS men carting off silver, tapestries, paintings and other loot from the Rothschild palace."@@@@1@41@@oe@2-2-2013
20741018@unknown@formal@none@1@S@In the immediate postwar years, the Rothschilds concentrated on rebuilding their other European operations, delaying their return to Frankfurt.@@@@1@19@@oe@2-2-2013
20741019@unknown@formal@none@1@S@"For a member of the Rothschild family, the return to Frankfurt is a very meaningful event, although it might not mean as much to German banking as it means to us," says Baron David de Rothschild, Elie's younger cousin and a partner in Rothschild & Cie. Banque in Paris.@@@@1@49@@oe@2-2-2013
20741020@unknown@formal@none@1@S@Indeed, the competition isn't greatly concerned.@@@@1@6@@oe@2-2-2013
20741021@unknown@formal@none@1@S@"It would be surprising if they didn't come to Frankfurt in time for 1992, and they bring an interesting tradition.@@@@1@20@@oe@2-2-2013
20741022@unknown@formal@none@1@S@But the market really isn't going to be stood on its head," said a banker at one of Frankfurt's Big Three banks.@@@@1@22@@oe@2-2-2013
20741023@unknown@formal@none@1@S@The return of the Rothschilds is modest.@@@@1@7@@oe@2-2-2013
20741024@unknown@formal@none@1@S@The new representative office, with one manager and two assistants -- none a member of the Rothschild family -- will carry out no banking operations of its own.@@@@1@28@@oe@2-2-2013
20741025@unknown@formal@none@1@S@Instead, it is to seek out corporate financing business and sell investment products on behalf of the family's mainstay banking units: N M Rothschild & Sons Ltd. in London, Rothschild & Cie. in Paris and Rothschild Bank AG in Zurich.@@@@1@40@@oe@2-2-2013
20741026@unknown@formal@none@1@S@The constraints don't bother the office's 54-year-old manager, Erich Stromeyer.@@@@1@10@@oe@2-2-2013
20741027@unknown@formal@none@1@S@He left his job as general manager of Shearson Lehman Hutton Holdings Inc.'s Frankfurt office because, he says, "When the Rothschilds called, I couldn't resist."@@@@1@25@@oe@2-2-2013
20741028@unknown@formal@none@1@S@Each Rothschild bank is linked by family ties and cross-ownership.@@@@1@10@@oe@2-2-2013
20741029@unknown@formal@none@1@S@In March, N M Rothschild in London and Rothschild Bank in Zurich showed assets of #4.1 billion ($6.51 billion) and 1.26 billion Swiss francs ($774 million), respectively.@@@@1@27@@oe@2-2-2013
20741030@unknown@formal@none@1@S@The Paris bank doesn't publish that figure.@@@@1@7@@oe@2-2-2013
20741031@unknown@formal@none@1@S@In Europe, the Rothschilds banks are focusing on mergers and acquisitions as European industry restructures ahead of 1992.@@@@1@18@@oe@2-2-2013
20741032@unknown@formal@none@1@S@Yet the group's limited resources makes it a niche player.@@@@1@10@@oe@2-2-2013
20741033@unknown@formal@none@1@S@"Obviously, there are quantitative limitations on the assistance we can provide," concedes Baron David de Rothschild, "but we feel we have some cards to play."@@@@1@25@@oe@2-2-2013
20741034@unknown@formal@none@1@S@Among them, he says, is the family's traditional ties to old wealth and decision-makers in banking and industry throughout Europe and beyond.@@@@1@22@@oe@2-2-2013
20741035@unknown@formal@none@1@S@The Rothschilds hope to use a long history in private banking and an aura of exclusivity to attract private and institutional investors.@@@@1@22@@oe@2-2-2013
20741036@unknown@formal@none@1@S@As at the Zurich bank, the minimum investment for individuals will be high: about a million German marks ($538,000), three times what many other West German investment banks require.@@@@1@29@@oe@2-2-2013
20741037@unknown@formal@none@1@S@"But we do make exceptions," says a smiling Baron Elie de Rothschild, "especially if they are very young and have very rich parents.@@@@1@23@@oe@2-2-2013
20742001@unknown@formal@none@1@S@As program trading comes under renewed attack for causing stock market gyrations, a few people on Wall Street say it is time to consider extreme measures.@@@@1@26@@oe@2-2-2013
20742002@unknown@formal@none@1@S@The real answer to curbing wild swings in stock prices, they say, might be to curb or even abolish stock-index futures.@@@@1@21@@oe@2-2-2013
20742003@unknown@formal@none@1@S@A stock-index future is a contract to buy or sell the market value of a basket of stocks, such as the Standard & Poor's 500-stock index.@@@@1@26@@oe@2-2-2013
20742004@unknown@formal@none@1@S@Since stock futures were created in 1982, trading on the Chicago Mercantile Exchange and other exchanges has boomed to the point where trading in stock-index futures rivals that in the stocks themselves.@@@@1@32@@oe@2-2-2013
20742005@unknown@formal@none@1@S@The conventional view, as voiced by Goldman, Sachs & Co. partner Fischer Black, is that stocks and "derivatives" such as futures and options "form a single market, and that derivatives make it a more liquid market."@@@@1@36@@oe@2-2-2013
20742006@unknown@formal@none@1@S@But increasingly, people are questioning that view, and the critics include some of the country's most successful investors.@@@@1@18@@oe@2-2-2013
20742007@unknown@formal@none@1@S@Warren Buffett has been on record as opposing stock-index futures since their inception in 1982.@@@@1@15@@oe@2-2-2013
20742008@unknown@formal@none@1@S@And Mario Gabelli, another star in the investing world, says, "My gut says the negatives of futures and synthetics far outweigh the benefits."@@@@1@23@@oe@2-2-2013
20742009@unknown@formal@none@1@S@Like others, Mr. Gabelli says that if futures cause investors to lose confidence in stocks, they will move away from stocks -- as many have already done.@@@@1@27@@oe@2-2-2013
20742010@unknown@formal@none@1@S@And those who remain, he says "will demand a higher return and over time raise the cost of capital to companies."@@@@1@21@@oe@2-2-2013
20742011@unknown@formal@none@1@S@Essentially, the critics of stock-index futures fall into two camps.@@@@1@10@@oe@2-2-2013
20742012@unknown@formal@none@1@S@One group says the futures contribute to stock market volatility; the other contends that futures are a sideshow of speculation that detracts from the stock market's basic function of raising capital.@@@@1@31@@oe@2-2-2013
20742013@unknown@formal@none@1@S@"Before futures," says New York investor Michael Harkins, "you actually had to pay attention to whether the thing you were buying had any intrinsic value."@@@@1@25@@oe@2-2-2013
20742014@unknown@formal@none@1@S@While it was once expected that futures would mimic stock prices, traders now routinely check the futures markets in Chicago before they buy or sell stocks.@@@@1@26@@oe@2-2-2013
20742015@unknown@formal@none@1@S@When Chicago futures prices jump up or down, the New York Stock Exchange follows.@@@@1@14@@oe@2-2-2013
20742016@unknown@formal@none@1@S@On Tuesday, for instance, the Dow Jones Industrial Average plunged 80 points in little more than an hour.@@@@1@18@@oe@2-2-2013
20742017@unknown@formal@none@1@S@Then, in the space of a 20-minute coffee break, the average rallied almost all of the way back.@@@@1@18@@oe@2-2-2013
20742018@unknown@formal@none@1@S@Paul Lesutis, who manages more than $3 billion of investments at Provident Capital Management Inc., blames futures markets for leading the way.@@@@1@22@@oe@2-2-2013
20742019@unknown@formal@none@1@S@"The fundamentals don't change in an hour," he says.@@@@1@9@@oe@2-2-2013
20742020@unknown@formal@none@1@S@"I think they should close down the futures exchange and then we could get back to investing."@@@@1@17@@oe@2-2-2013
20742021@unknown@formal@none@1@S@Index arbitrage -- the rapid-fire buying and selling of stocks offset with opposite trades in futures -- is frequently blamed for adding to stock market volatility.@@@@1@26@@oe@2-2-2013
20742022@unknown@formal@none@1@S@Although index arbitrage is said to add liquidity to markets, John Bachmann, managing partner of Edward D. Jones, says too much liquidity isn't a good thing@@@@1@26@@oe@2-2-2013
20742023@unknown@formal@none@1@S@"The kind of instant liquidity that is implied by index futures is that you can buy a portfolio over two years and get out in one day.@@@@1@27@@oe@2-2-2013
20742024@unknown@formal@none@1@S@It's too disruptive," he says.@@@@1@5@@oe@2-2-2013
20742025@unknown@formal@none@1@S@"It isn't investing."@@@@1@3@@oe@2-2-2013
20742026@unknown@formal@none@1@S@But stock-index futures have plenty of support.@@@@1@7@@oe@2-2-2013
20742027@unknown@formal@none@1@S@Defenders say futures make markets more efficient and provide ways for investors to reduce risks.@@@@1@15@@oe@2-2-2013
20742028@unknown@formal@none@1@S@They note that stocks experienced volatile swings long before futures.@@@@1@10@@oe@2-2-2013
20742029@unknown@formal@none@1@S@And, defenders say, few people complain about futures when stock prices are rising.@@@@1@13@@oe@2-2-2013
20742030@unknown@formal@none@1@S@Louis Margolis, managing director in charge of equity options and futures at Salomon Inc., says that trading baskets of stocks began in the 1970s, a decade before the advent of futures.@@@@1@31@@oe@2-2-2013
20742031@unknown@formal@none@1@S@Futures, he says, merely cut down on trading costs.@@@@1@9@@oe@2-2-2013
20742032@unknown@formal@none@1@S@He says "blaming futures is like blaming the messenger."@@@@1@9@@oe@2-2-2013
20742033@unknown@formal@none@1@S@Since stock-index arbitrage merely narrows the gap between prices in the futures and stock markets, it can't add to volatility, he says.@@@@1@22@@oe@2-2-2013
20742034@unknown@formal@none@1@S@Futures "don't need defending," says Andrew Yemma, a spokesman for the Chicago Mercantile Exchange, which trades the S&P 500, by far the largest stock-index futures contract.@@@@1@26@@oe@2-2-2013
20742035@unknown@formal@none@1@S@Despite the current outcry over stock market volatility, few people expect stock futures to disappear.@@@@1@15@@oe@2-2-2013
20742036@unknown@formal@none@1@S@For one thing, the Chicago futures exchanges have political and financial clout -- including many friends in Congress.@@@@1@18@@oe@2-2-2013
20742037@unknown@formal@none@1@S@And traders say that futures have become an accepted part of the financial landscape.@@@@1@14@@oe@2-2-2013
20742038@unknown@formal@none@1@S@"All life is about change -- either you adapt or die," says one Chicago futures trader.@@@@1@16@@oe@2-2-2013
20742039@unknown@formal@none@1@S@"If futures aren't permitted here, we'll take it to Australia or Tokyo."@@@@1@12@@oe@2-2-2013
20742040@unknown@formal@none@1@S@Average daily volume in S&P 500 futures last year was 44,877 contracts.@@@@1@12@@oe@2-2-2013
20742041@unknown@formal@none@1@S@Based on yesterday's closing price of the S&P, the average value of one day's trading amounts to $7.6 billion.@@@@1@19@@oe@2-2-2013
20742042@unknown@formal@none@1@S@By contrast, average dollar volume on the Big Board last year was $5.3 billion.@@@@1@14@@oe@2-2-2013
20742043@unknown@formal@none@1@S@Many investment managers say futures are useful as a way to hedge portfolios.@@@@1@13@@oe@2-2-2013
20742044@unknown@formal@none@1@S@If managers fear that the overall stock market will fall, but want to continue owning stocks, they can hold on to specific stocks and sell a corresponding amount of futures contracts.@@@@1@31@@oe@2-2-2013
20742045@unknown@formal@none@1@S@Average daily volume in S&P 500 futures last year was 44,877 contracts.@@@@1@12@@oe@2-2-2013
20742046@unknown@formal@none@1@S@Based on yesterday's closing price of the S&P, the average value of one day's trading amounts to $7.6 billion.@@@@1@19@@oe@2-2-2013
20742047@unknown@formal@none@1@S@By contrast, average dollar volume on the Big Board last year was $5.3 billion.@@@@1@14@@oe@2-2-2013
20742048@unknown@formal@none@1@S@Many investment managers say futures are useful as a way to hedge portfolios.@@@@1@13@@oe@2-2-2013
20742049@unknown@formal@none@1@S@If managers fear that the overall stock market will fall, but want to continue owning stocks, they can hold on to specific stocks and sell a corresponding amount of futures contracts.@@@@1@31@@oe@2-2-2013
20742050@unknown@formal@none@1@S@And although criticism of futures generally comes from Wall Street, one Chicago futures trader notes that brokerage firms rely on futures as hedging tools when they buy and sell big blocks of stocks from institutions.@@@@1@35@@oe@2-2-2013
20742051@unknown@formal@none@1@S@One reason futures are said to add volatility is that -- unlike in stocks -- people can speculate in futures with little money down.@@@@1@24@@oe@2-2-2013
20742052@unknown@formal@none@1@S@Margin requirements for speculators on the Chicago Mercantile Exchange are currently about 7%.@@@@1@13@@oe@2-2-2013
20742053@unknown@formal@none@1@S@"For $10 million, you can move $100 million of stocks," a specialist on the Big Board gripes.@@@@1@17@@oe@2-2-2013
20742054@unknown@formal@none@1@S@"That gives futures traders a lot more power."@@@@1@8@@oe@2-2-2013
20742055@unknown@formal@none@1@S@By contrast, an investor in stocks must put up 50% in cash.@@@@1@12@@oe@2-2-2013
20742056@unknown@formal@none@1@S@Some critics say futures encourage people to think of stocks as a single commodity, rather than as investments in individual businesses.@@@@1@21@@oe@2-2-2013
20742057@unknown@formal@none@1@S@Thus, they say, futures inhibit the basic purpose of the stock market: to accurately price securities so that capital and investment flows where it's needed most.@@@@1@26@@oe@2-2-2013
20742058@unknown@formal@none@1@S@The S&P 500 index futures "transferred the identity of 500 stocks into one unit-making them a simple commodity to trade," says George Kegler, senior vice president at A. Webster Dougherty in Philadelphia.@@@@1@32@@oe@2-2-2013
20742059@unknown@formal@none@1@S@"It took away the need to know the bad third-quarter report of IBM, for example," Mr. Kegler says.@@@@1@18@@oe@2-2-2013
20742060@unknown@formal@none@1@S@Of course, portfolio trading -- the increasingly common practice of buying or selling baskets of actual stocks -- also treats stocks as homogenous commodities.@@@@1@24@@oe@2-2-2013
20742061@unknown@formal@none@1@S@"There is a class of investor that wants to be exposed" to the whole market, says Sandip Bhagat, assistant vice president at Travelers Investment Management Co.@@@@1@26@@oe@2-2-2013
20742062@unknown@formal@none@1@S@The S&P futures are merely a "cheaper and quicker" way to get access to all 500 stocks, he says.@@@@1@19@@oe@2-2-2013
20742063@unknown@formal@none@1@S@The Big Board yesterday began trading in its own basket trading vehicle representing the S&P 500 stocks.@@@@1@17@@oe@2-2-2013
20742064@unknown@formal@none@1@S@But owning index futures isn't the same as owning the underlying stocks.@@@@1@12@@oe@2-2-2013
20742065@unknown@formal@none@1@S@Stockholders, as a group, can win, because they own a share of corporate earnings, which can grow and boost stock prices.@@@@1@21@@oe@2-2-2013
20742066@unknown@formal@none@1@S@Futures, on the other hand, are a zero sum game -- a market for making side bets about the direction of stock prices.@@@@1@23@@oe@2-2-2013
20742067@unknown@formal@none@1@S@"You don't own anything," says Stephen Boesel, a money manager for T. Rowe Price in Baltimore.@@@@1@16@@oe@2-2-2013
20742068@unknown@formal@none@1@S@"You're making a pure bet on the market.@@@@1@8@@oe@2-2-2013
20743001@unknown@formal@none@1@S@The European Community Commission challenged an agreement on routes and fares between France's two largest airlines on antitrust grounds.@@@@1@19@@oe@2-2-2013
20743002@unknown@formal@none@1@S@Meeting in Strasbourg Wednesday, the commission voted, as expected, to formally object to the accord between Air France, the state-owned airline, and state-controlled domestic carrier Air Inter.@@@@1@27@@oe@2-2-2013
20743003@unknown@formal@none@1@S@An EC spokesman said the two companies will be notified so they can begin negotiations with Brussels on how to modify the pact.@@@@1@23@@oe@2-2-2013
20743004@unknown@formal@none@1@S@At issue is an accord dating back to March in which Air France gained access to five domestic French routes under Air Inter's flight numbers and the domestic airline got to fly to five cities outside of France under the flag of Air France.@@@@1@44@@oe@2-2-2013
20743005@unknown@formal@none@1@S@The two shared results from this route swap, and followed rules on ticket pricing.@@@@1@14@@oe@2-2-2013
20743006@unknown@formal@none@1@S@The EC Commission decided that such an accord doesn't benefit consumers enough to merit an exemption from antitrust law.@@@@1@19@@oe@2-2-2013
20743007@unknown@formal@none@1@S@The airlines presented it as offering consumers more choice and better flight connections.@@@@1@13@@oe@2-2-2013
20743008@unknown@formal@none@1@S@An Air France spokeswoman said, "we're absolutely ready to study all solutions."@@@@1@12@@oe@2-2-2013
20743009@unknown@formal@none@1@S@An Air Inter spokesman said, "Because they {the EC} have doubts, we will work again on the text and the contents of the accord.@@@@1@24@@oe@2-2-2013
20744001@unknown@formal@none@1@S@A state appellate court reinstated the 1987 convictions of Pymm Thermometer Corp. and two of its executives on charges of assault for exposing workers to toxic mercury vapors.@@@@1@28@@oe@2-2-2013
20744002@unknown@formal@none@1@S@The indictment charged that Pymm operated a machine to crush broken thermometers and recover the mercury in an illegal workroom.@@@@1@20@@oe@2-2-2013
20744003@unknown@formal@none@1@S@The charges said that one worker suffered permanent brain damage from mercury exposure.@@@@1@13@@oe@2-2-2013
20744004@unknown@formal@none@1@S@The judge handling the case in state Supreme Court, a trial court, had tossed out the jury verdicts, ruling that the matter should have been handled under federal Occupational Safety and Health Administration rules.@@@@1@34@@oe@2-2-2013
20744005@unknown@formal@none@1@S@But the Appellate Division of State Supreme Court held that federal law didn't pre-empt the states from such a prosecution.@@@@1@20@@oe@2-2-2013
20744006@unknown@formal@none@1@S@Elizabeth Holtzman, district attorney for Brooklyn, N.Y., said, "The appellate division has agreed with our view that despite federal worker-safety laws, state prosecutors have the power to protect working people."@@@@1@30@@oe@2-2-2013
20744007@unknown@formal@none@1@S@Lawyers for the company and executives couldn't be reached for comment.@@@@1@11@@oe@2-2-2013
20744008@unknown@formal@none@1@S@The executives face five to 15 years in prison and fines of $5,000 or double the profit made by failing to comply with the rules.@@@@1@25@@oe@2-2-2013
20744009@unknown@formal@none@1@S@The company could be fined a maximum of $10,000, or double the profit.@@@@1@13@@oe@2-2-2013
20745001@unknown@formal@none@1@S@General Motors Corp. wants to buy as much as 15% of Jaguar PLC, marking its first salvo in a possible full-scale battle against Ford Motor Co. for control of the British car maker.@@@@1@33@@oe@2-2-2013
20745002@unknown@formal@none@1@S@GM sought U.S. antitrust clearance last week to purchase more than $15 million worth of Jaguar shares but doesn't own any yet, according to GM officials here and at the company's Detroit headquarters.@@@@1@33@@oe@2-2-2013
20745003@unknown@formal@none@1@S@The No. 1 U.S. auto maker then wrote Jaguar that it intends "to go to that 15%" level once it wins the U.S. clearance to go beyond $15 million, a Jaguar spokesman said yesterday.@@@@1@34@@oe@2-2-2013
20745004@unknown@formal@none@1@S@The GM move follows Tuesday's declaration by Ford, which holds an unwelcome 12.45% stake in Jaguar, that it is prepared to bid for the entire company.@@@@1@26@@oe@2-2-2013
20745005@unknown@formal@none@1@S@GM is close to completing a friendly deal with Jaguar that is likely to involve an eventual 30% stake and joint manufacturing ventures.@@@@1@23@@oe@2-2-2013
20745006@unknown@formal@none@1@S@Speculative investors, betting on an imminent clash between Ford and GM, pushed up Jaguar's share price five pence (eight U.S. cents) to a near-record 720 pence ($11.60) in late trading on London's stock exchange yesterday.@@@@1@35@@oe@2-2-2013
20745007@unknown@formal@none@1@S@Since Tuesday, the shares have gained nearly 4%.@@@@1@8@@oe@2-2-2013
20745008@unknown@formal@none@1@S@But an all-out bidding war between the world's top auto giants for Britain's leading luxury-car maker seems unlikely.@@@@1@18@@oe@2-2-2013
20745009@unknown@formal@none@1@S@"We will not go over a certain level," said David N. McCammon, Ford's vice president for finance, at a news conference yesterday in Dearborn, Mich.@@@@1@25@@oe@2-2-2013
20745010@unknown@formal@none@1@S@"There's some price at which we'd stop bidding."@@@@1@8@@oe@2-2-2013
20745011@unknown@formal@none@1@S@He wouldn't specify what it was.@@@@1@6@@oe@2-2-2013
20745012@unknown@formal@none@1@S@And powerful political pressures may convince the Conservative government to keep its so-called golden share, which limits any individual holding to 15%, until the restriction expires on Dec. 31, 1990.@@@@1@30@@oe@2-2-2013
20745013@unknown@formal@none@1@S@"I really don't see the government doing something that Jaguar doesn't want over the next 14 months," said Kenneth Warren, a Conservative member of Parliament and chairman of the Select Committee on Trade and Industry in Britain's House of Commons.@@@@1@40@@oe@2-2-2013
20745014@unknown@formal@none@1@S@"The golden share is a single share, but it is the magic share."@@@@1@13@@oe@2-2-2013
20745015@unknown@formal@none@1@S@The government retained the single share after selling its stake in Jaguar in 1984 -- part of a nationalistic practice of protecting former government-owned enterprises to deflect criticism of privatization.@@@@1@30@@oe@2-2-2013
20745016@unknown@formal@none@1@S@The 15% restriction covers any would-be suitor, British or foreign.@@@@1@10@@oe@2-2-2013
20745017@unknown@formal@none@1@S@Ford is willing to bid for 100% of Jaguar's shares if both the government and Jaguar shareholders agree to relax the anti-takeover barrier prematurely.@@@@1@24@@oe@2-2-2013
20745018@unknown@formal@none@1@S@As Jaguar's biggest holder and Britain's biggest car maker, Ford could turn up the heat by convening a special shareholders' meeting and urging holders to drop the limits early.@@@@1@29@@oe@2-2-2013
20745019@unknown@formal@none@1@S@Ford might succeed because many shareholders are speculators keen for a full bid or institutional investors unhappy over Jaguar management's handling of its current financial difficulties.@@@@1@26@@oe@2-2-2013
20745020@unknown@formal@none@1@S@The government probably wouldn't give in readily to a hostile foray by Ford, however.@@@@1@14@@oe@2-2-2013
20745021@unknown@formal@none@1@S@It has relinquished a golden share only once before -- during British Petroleum Co.'s #2.5 billion ($4 billion) takeover of Britoil PLC in 1988.@@@@1@24@@oe@2-2-2013
20745022@unknown@formal@none@1@S@In wooing British lawmakers, GM has pointed out that its willingness to settle for a minority stake would keep Jaguar British-owned and independent.@@@@1@23@@oe@2-2-2013
20745023@unknown@formal@none@1@S@This week, the U.S. auto giant paid for 10 House of Commons members and two House of Lords members to fly to Detroit and tour its operations there.@@@@1@28@@oe@2-2-2013
20745024@unknown@formal@none@1@S@While the visit was unrelated to Jaguar, GM Chairman Roger Smith answered the legislators' questions about it over lunch Tuesday.@@@@1@20@@oe@2-2-2013
20745025@unknown@formal@none@1@S@He said Jaguar "shouldn't be smothered by anyone else," recalled one participant.@@@@1@12@@oe@2-2-2013
20745026@unknown@formal@none@1@S@Politics also influences the government's thinking on the anti-takeover restriction.@@@@1@10@@oe@2-2-2013
20745027@unknown@formal@none@1@S@The Conservatives don't dare jeopardize marginal Tory seats in Coventry, where Jaguar has headquarters, nor can the government easily back down on promised protection for a privatized company while it proceeds with controversial plans to privatize most of Britain's water and electricity industries.@@@@1@43@@oe@2-2-2013
20745028@unknown@formal@none@1@S@Prime Minister Margaret Thatcher might, however, be receptive to any request by Jaguar Chairman Sir John Egan for the restriction's early removal to let GM amass more than 15% or mount a friendly suitor bid against Ford.@@@@1@37@@oe@2-2-2013
20745029@unknown@formal@none@1@S@In the end, Sir John -- rather than the government or Jaguar shareholders -- may hold the key that unlocks the golden share.@@@@1@23@@oe@2-2-2013
20746001@unknown@formal@none@1@S@Swedish rolling-steel and ball-bearing group AB SKF said its pretax profit rose 78% to 1.78 billion kronor ($278 million) in the first nine months from one billion kronor ($156 million) in the corresponding period a year earlier.@@@@1@37@@oe@2-2-2013
20746002@unknown@formal@none@1@S@SKF said sales increased 17% to 18.46 billion kronor from 15.72 billion.@@@@1@12@@oe@2-2-2013
20746003@unknown@formal@none@1@S@Earnings per share were 10.35 kronor compared with 5.80 kronor.@@@@1@10@@oe@2-2-2013
20746004@unknown@formal@none@1@S@SKF said demand for the group's main product, rolling bearings, remained favorable in Europe, which accounts for slightly more than two-thirds of group sales.@@@@1@24@@oe@2-2-2013
20746005@unknown@formal@none@1@S@Latin American markets continued their recovery after a weak start to the year, SKF said.@@@@1@15@@oe@2-2-2013
20746006@unknown@formal@none@1@S@The company said the situation in the U.S. is still uncertain as reduced production in the country's automotive industry has resulted in weakened demand for rolling bearings.@@@@1@27@@oe@2-2-2013
20746007@unknown@formal@none@1@S@Analysts said SKF's results for the first nine months lived up to market expectations as brokerage firms had predicted a pretax profit of 1.74 billion to 1.86 billion kronor.@@@@1@29@@oe@2-2-2013
20746008@unknown@formal@none@1@S@The three business areas engaged in rolling bearing operations continued to show favorable sales development.@@@@1@15@@oe@2-2-2013
20746009@unknown@formal@none@1@S@Sales of rolling bearings increased 19% to 15.7 billion kronor from 13.2 billion kronor in the corresponding period the previous year.@@@@1@21@@oe@2-2-2013
20747001@unknown@formal@none@1@S@We read with interest Robert Tomsho's Sept. 28 page-one article on Robert Redford ("The Sundance Kid Gets Little Respect Around Sundance").@@@@1@21@@oe@2-2-2013
20747002@unknown@formal@none@1@S@Misunderstanding conversations with us, Mr. Tomsho argued that Mr. Redford's environmental views are at odds with Utah residents.@@@@1@18@@oe@2-2-2013
20747003@unknown@formal@none@1@S@This may have been true 10 years ago, but times have changed, even in Utah.@@@@1@15@@oe@2-2-2013
20747004@unknown@formal@none@1@S@Mr. Redford no longer stands out as an extremist.@@@@1@9@@oe@2-2-2013
20747005@unknown@formal@none@1@S@He has not changed, but those around him have.@@@@1@9@@oe@2-2-2013
20747006@unknown@formal@none@1@S@Many of his views on the protection of wilderness areas, rivers and canyons are now embraced by mainstream, conservative Utahans.@@@@1@20@@oe@2-2-2013
20747007@unknown@formal@none@1@S@Recently, some 60 environmental and outdoor groups representing such divergent points of view as the Sierra Club, the League of Women Voters and the National Rifle Association joined together to request a reassessment of the environmentally unsound Central Utah Project.@@@@1@40@@oe@2-2-2013
20747008@unknown@formal@none@1@S@While Utah is not yet a haven for environmentalism, public views toward the environment have significantly improved.@@@@1@17@@oe@2-2-2013
20747009@unknown@formal@none@1@S@In one of the most conservative, Republican states in the entire nation, the greening of Robert Redford's neighbors is the real story that Mr. Tomsho missed.@@@@1@26@@oe@2-2-2013
20747010@unknown@formal@none@1@S@Sammye Meadows Sam Rushforth Gary Bryner Heber City, Utah@@@@1@9@@oe@2-2-2013
20747011@unknown@formal@none@1@S@If Mr. Redford wanted to be accepted by the people of Utah, he should have taken an advisory role instead of one of forcing his personal preferences.@@@@1@27@@oe@2-2-2013
20747012@unknown@formal@none@1@S@Furthermore, his actions imply that it is too damaging or costly for society to provide jobs through power-plant construction, coal mining or to build roads for public safety because of the adverse impact on the environment, but it is just fine and dandy for him to transform a mountain high in the Wasatch Range into a ski resort.@@@@1@58@@oe@2-2-2013
20747013@unknown@formal@none@1@S@It astounds me he can rationalize his self-righteous and greedy actions in Utah.@@@@1@13@@oe@2-2-2013
20747014@unknown@formal@none@1@S@An excellent environmental actor he is.@@@@1@6@@oe@2-2-2013
20747015@unknown@formal@none@1@S@David Vranian M.B.A. Student University of Colorado Boulder, Colo.@@@@1@9@@oe@2-2-2013
20747016@unknown@formal@none@1@S@Mr. Redford, like it or not, is like a braking system on a runaway truck, kind of slowing it down into control.@@@@1@22@@oe@2-2-2013
20747017@unknown@formal@none@1@S@He's rich, famous and intelligent, and has the time to do something that not even the federal government will do.@@@@1@20@@oe@2-2-2013
20747018@unknown@formal@none@1@S@Mr. Redford is slowing down a mindless, speeding maniac known as the progress of mankind.@@@@1@15@@oe@2-2-2013
20747019@unknown@formal@none@1@S@Personally, I'm glad there are people like him around to slow down the profit takers, and those who are in such a blind hurry for something that may appear to benefit them in the immediate future, not caring about the long-range implications.@@@@1@42@@oe@2-2-2013
20747020@unknown@formal@none@1@S@Ron Dyer@@@@1@2@@oe@2-2-2013
20748001@unknown@formal@none@1@S@When President Bush travels to Costa Rica today, he'll go with little of the fanfare that accompanies many of his foreign travels.@@@@1@22@@oe@2-2-2013
20748002@unknown@formal@none@1@S@But the two-day trip still has managed to fuel controversy over his administration's policies in Central America.@@@@1@17@@oe@2-2-2013
20748003@unknown@formal@none@1@S@Some conservatives say Mr. Bush shouldn't make the trip, during which he will participate in Costa Rica's celebration of 100 years of democracy.@@@@1@23@@oe@2-2-2013
20748004@unknown@formal@none@1@S@These critics object to Mr. Bush's participation in a meeting that includes Nicaraguan President Daniel Ortega among the guests.@@@@1@19@@oe@2-2-2013
20748005@unknown@formal@none@1@S@In addition, they argue he won't help Washington's standing in the region by trumpeting the U.S. commitment to democracy less than a month after his administration played an ineffectual role in the failed coup attempt in Panama.@@@@1@37@@oe@2-2-2013
20748006@unknown@formal@none@1@S@"I believe it will do more damage than good because it will legitimize people like Daniel Ortega," says Curtin Windsor, who served as U.S. ambassador to Costa Rica during the Reagan administration.@@@@1@32@@oe@2-2-2013
20748007@unknown@formal@none@1@S@Mr. Windsor, among other analysts connected to the conservative Heritage Foundation, fears the gathering of 18 leaders, mostly from Central American nations, will force Mr. Bush "to explain and redeem himself" in the wake of charges that the U.S. failed to do enough to aid the removal of Panamanian dictator Manuel Noriega.@@@@1@52@@oe@2-2-2013
20748008@unknown@formal@none@1@S@At the same time, liberal and moderate Democrats note the irony of Mr. Bush's joining a celebration of Costa Rican democracy at a time his administration has sought sharp cuts in U.S. aid to the tiny country.@@@@1@37@@oe@2-2-2013
20748009@unknown@formal@none@1@S@The administration proposed only $57 million in so-called economic support funds for Costa Rica this year, down from the $90 million the U.S. provided last year.@@@@1@26@@oe@2-2-2013
20748010@unknown@formal@none@1@S@The administration said improvements in Costa Rica's economic condition warrant the cut in aid, which the country uses mainly to make payments on its $4.5 billion foreign debt.@@@@1@28@@oe@2-2-2013
20748011@unknown@formal@none@1@S@But Costa Rican officials argue that the recent drop in coffee prices, combined with the country's continuing struggle to reinvigorate its economy, make the support as necessary as ever.@@@@1@29@@oe@2-2-2013
20748012@unknown@formal@none@1@S@"We are crossing the river and we need a little more help to get to the other side," said Rodrigo Sotela, an economic affairs specialist at the Costa Rican Embassy in Washington.@@@@1@32@@oe@2-2-2013
20748013@unknown@formal@none@1@S@Democrats argue that Costa Rica deserves more assistance for the same reason that Mr. Bush is attending the celebration this weekend: to reward the country for its stability in a region wracked with turmoil and for its efforts to promote peace in Nicaragua.@@@@1@43@@oe@2-2-2013
20748014@unknown@formal@none@1@S@However, peace efforts by Costa Rican President Oscar Arias haven't always helped the country's cause in Washington.@@@@1@17@@oe@2-2-2013
20748015@unknown@formal@none@1@S@Mr. Arias's long-time refusal to support the U.S.'s campaign against leftist Nicaragua earned him the ire of the Reagan White House.@@@@1@21@@oe@2-2-2013
20748016@unknown@formal@none@1@S@And more recently, he insisted on signing a five-nation agreement intended to disarm Nicaragua's U.S.-backed Contra rebels faster than the Bush administration would prefer.@@@@1@24@@oe@2-2-2013
20748017@unknown@formal@none@1@S@"I think Bush's going there is a helpful sign," said Sen. Terry Sanford (D., N.C.) a member of the Foreign Relations Committee who pushed to provide Costa Rica about the same amount of aid as it received last year.@@@@1@39@@oe@2-2-2013
20748018@unknown@formal@none@1@S@Lawmakers in both houses support the higher level.@@@@1@8@@oe@2-2-2013
20748019@unknown@formal@none@1@S@Administration officials defend Mr. Bush's decision to make the trip.@@@@1@10@@oe@2-2-2013
20748020@unknown@formal@none@1@S@While they acknowledge the president will attend several meals and a working session also attended by Mr. Ortega, they insist that Mr. Bush won't be extending the Nicaraguan leader any special courtesies.@@@@1@32@@oe@2-2-2013
20748021@unknown@formal@none@1@S@The administration also made clear its continuing distate for the leftist Nicaraguan government in recent days, endorsing a package of electoral aid to the Nicaraguan opposition, renewing the U.S. trade embargo against the country and continuing to complain that the country supports rebel groups in the region.@@@@1@47@@oe@2-2-2013
20748022@unknown@formal@none@1@S@Officials also insist Mr. Bush will use the trip to highlight his own initiatives for pushing democracy in the region, fighting illegal drugs and assisting the less developed countries.@@@@1@29@@oe@2-2-2013
20748023@unknown@formal@none@1@S@"Let me say there is a symbolic component to this trip," Secretary of State James Baker told reporters Wednesday.@@@@1@19@@oe@2-2-2013
20748024@unknown@formal@none@1@S@"There won't be any formal resolutions or communiques, I don't think.@@@@1@11@@oe@2-2-2013
20748025@unknown@formal@none@1@S@But we still see this as an opportunity to discuss many, many very important issues.@@@@1@15@@oe@2-2-2013
20749001@unknown@formal@none@1@S@In 1987, the Presidents Commission of the NCAA, which oversees most U.S. intercollegiate sports, contracted with the Washington-based American Institutes for Research to do a survey on the college experiences of what the body chooses to call student-athletes.@@@@1@38@@oe@2-2-2013
20749002@unknown@formal@none@1@S@A brief "executive summary" was issued last April, and attracted some, but not much, attention.@@@@1@15@@oe@2-2-2013
20749003@unknown@formal@none@1@S@More-detailed reports followed, and attracted even less notice.@@@@1@8@@oe@2-2-2013
20749004@unknown@formal@none@1@S@I suspect I may be one of the few people to have read them all.@@@@1@15@@oe@2-2-2013
20749005@unknown@formal@none@1@S@The sixth and last report now is out, and it puts the effort in perspective.@@@@1@15@@oe@2-2-2013
20749006@unknown@formal@none@1@S@Titled "Comments From Students," it focuses on the real shame of college sports: what happens to young athletes once they enter academe.@@@@1@22@@oe@2-2-2013
20749007@unknown@formal@none@1@S@It's little less than a cry for help from those who make the costly show possible.@@@@1@16@@oe@2-2-2013
20749008@unknown@formal@none@1@S@The previous five reports were mainly statistical, but clear enough in outline.@@@@1@12@@oe@2-2-2013
20749009@unknown@formal@none@1@S@They showed that participants in Division I football and men's basketball, the big-time "revenue sports," entered school with poorer high-school grades and test scores than "minor-sport" jocks and students who participated in other extracurricular activities, and they got lower grades once they got there, at least partly because of the athletic demands placed on them.@@@@1@55@@oe@2-2-2013
20749010@unknown@formal@none@1@S@The football and basketball players spent more time on their sports in season than they did on class attendance and homework combined (30 hours a week versus 25.3).@@@@1@28@@oe@2-2-2013
20749011@unknown@formal@none@1@S@Almost half (49.8%) reported suffering "mental abuse" from coaches, and almost one-quarter (24.8%) said they had been pressured to ignore injuries.@@@@1@21@@oe@2-2-2013
20749012@unknown@formal@none@1@S@But even those numbers don't describe the situation as well as the athletes do in their own words.@@@@1@18@@oe@2-2-2013
20749013@unknown@formal@none@1@S@The composite portrait that emerges isn't of a pampered jock marking time until he can land a seven-figure pro contract -- he's part of a tiny minority.@@@@1@27@@oe@2-2-2013
20749014@unknown@formal@none@1@S@Rather, it's of a kid (we're talking about 17 to 22 year olds here) having a tough time making the best of what will probably be his one shot at college.@@@@1@31@@oe@2-2-2013
20749015@unknown@formal@none@1@S@The pertinent question, coming at the end of a lengthy, confidential questionnaire, was this: "Are there things about your college life you would like to tell us that we didn't ask about?"@@@@1@32@@oe@2-2-2013
20749016@unknown@formal@none@1@S@Of the almost 3,000 athletes surveyed, 1,240 took the time to respond.@@@@1@12@@oe@2-2-2013
20749017@unknown@formal@none@1@S@Here are a few of their answers: -- "They say that I am a student-athlete, but really I'm an athlete-student.@@@@1@20@@oe@2-2-2013
20749018@unknown@formal@none@1@S@They lied to me on the recruiting trip.@@@@1@8@@oe@2-2-2013
20749019@unknown@formal@none@1@S@Football is the No. 1 thing here".@@@@1@7@@oe@2-2-2013
20749020@unknown@formal@none@1@S@-- Junior football player.@@@@1@4@@oe@2-2-2013
20749021@unknown@formal@none@1@S@-- "Being a student-athlete at college is a lot different from high school.@@@@1@13@@oe@2-2-2013
20749022@unknown@formal@none@1@S@First, the sport you play is no longer a game -- it becomes a job.@@@@1@15@@oe@2-2-2013
20749023@unknown@formal@none@1@S@Your coaches demand a lot more out of you even though some of them are not willing to take the time to watch you progress.@@@@1@25@@oe@2-2-2013
20749024@unknown@formal@none@1@S@You become expendable.@@@@1@3@@oe@2-2-2013
20749025@unknown@formal@none@1@S@Your interest is not taken to heart because people only care about your performance".@@@@1@14@@oe@2-2-2013
20749026@unknown@formal@none@1@S@-- Freshman basketball player.@@@@1@4@@oe@2-2-2013
20749027@unknown@formal@none@1@S@-- "The coaches should have a more personal and sympathetic attitude toward the athletes -- not treat us like pieces of meat.@@@@1@22@@oe@2-2-2013
20749028@unknown@formal@none@1@S@They always say to get a degree first, but they don't allow us time or to skip practice to study for a test.@@@@1@23@@oe@2-2-2013
20749029@unknown@formal@none@1@S@They just want to get their job done at any cost to the athlete".@@@@1@14@@oe@2-2-2013
20749030@unknown@formal@none@1@S@-- Freshman football player.@@@@1@4@@oe@2-2-2013
20749031@unknown@formal@none@1@S@-- "The pressure put on us to win at all times has resulted in physical violence, such as punching and slapping by coaches.@@@@1@23@@oe@2-2-2013
20749032@unknown@formal@none@1@S@Some days the coaches make you feel as though you are part of a large herd of animals.@@@@1@18@@oe@2-2-2013
20749033@unknown@formal@none@1@S@In other words, they treat you like a piece of meat".@@@@1@11@@oe@2-2-2013
20749034@unknown@formal@none@1@S@-- Sophomore football player.@@@@1@4@@oe@2-2-2013
20749035@unknown@formal@none@1@S@-- "Playing intercollegiate sports doesn't give you a lot of time to spend with others.@@@@1@15@@oe@2-2-2013
20749036@unknown@formal@none@1@S@We are almost left out of {campus} social activities.@@@@1@9@@oe@2-2-2013
20749037@unknown@formal@none@1@S@This mostly happens because we go from football in the fall to lifting in the winter to football again in the spring".@@@@1@22@@oe@2-2-2013
20749038@unknown@formal@none@1@S@-- Freshman football player.@@@@1@4@@oe@2-2-2013
20749039@unknown@formal@none@1@S@-- "You talk about free time -- .what free time?@@@@1@10@@oe@2-2-2013
20749040@unknown@formal@none@1@S@Time to relax and enjoy ourselves is always taken up by something to do with football (meetings, lifting weights, conditioning or films).@@@@1@22@@oe@2-2-2013
20749041@unknown@formal@none@1@S@There is no recovery period -- it's go, go, go.@@@@1@10@@oe@2-2-2013
20749042@unknown@formal@none@1@S@ABUSE to our bodies is overwhelming.@@@@1@6@@oe@2-2-2013
20749043@unknown@formal@none@1@S@With our schedule, it's hard to sleep well knowing what is going to happen the next day".@@@@1@17@@oe@2-2-2013
20749044@unknown@formal@none@1@S@-- Junior football player.@@@@1@4@@oe@2-2-2013
20749045@unknown@formal@none@1@S@-- "Physical exhaustion and depression are common in my life and in some of my teammates' lives".@@@@1@17@@oe@2-2-2013
20749046@unknown@formal@none@1@S@-- Football player, class unspecified.@@@@1@5@@oe@2-2-2013
20749047@unknown@formal@none@1@S@-- "More often than not, college athletes go through college never really experiencing collegiate life to the fullest.@@@@1@18@@oe@2-2-2013
20749048@unknown@formal@none@1@S@One has to establish one's own identity away from athletics and make athletics only a part, not a whole, of the student-athlete's life".@@@@1@23@@oe@2-2-2013
20749049@unknown@formal@none@1@S@-- Sophomore basketball player.@@@@1@4@@oe@2-2-2013
20749050@unknown@formal@none@1@S@-- "Somehow, and I don't know how, the game needs to be played for fun again, and not for the big bowl revenues or lucrative TV contracts".@@@@1@27@@oe@2-2-2013
20749051@unknown@formal@none@1@S@-- Graduate-student football player.@@@@1@4@@oe@2-2-2013
20749052@unknown@formal@none@1@S@There have been rumblings that, at long last, changes may be in the works.@@@@1@14@@oe@2-2-2013
20749053@unknown@formal@none@1@S@The Knight Foundation, of Akron, Ohio, has established a national commission to look into college-sports reform, and the NCAA Presidents Commission earlier this month recommended cutting spring football practice in half, moving the start of basketball practice back by a month and reducing maximum schedules in that sport to 25 games from 28.@@@@1@53@@oe@2-2-2013
20749054@unknown@formal@none@1@S@The key word in that paragraph, though, is "may."@@@@1@9@@oe@2-2-2013
20749055@unknown@formal@none@1@S@NCAA Executive Director Richard Schultz, in accepting a place on the Knight Commission, urged that the panel take a "balanced" view, which looks for all the world like a plea not to rock the boat too much, and the presidents' recommendations could face considerable opposition at the NCAA's full convention in January, which will vote on them.@@@@1@57@@oe@2-2-2013
20749056@unknown@formal@none@1@S@I read that one unnamed athletics director predicted that the basketball-cutback proposal could fail because of "real world" (i.e., economic) considerations.@@@@1@21@@oe@2-2-2013
20749057@unknown@formal@none@1@S@But the "real world" also includes the unpleasant truth that colleges are cheating the athletes they have wooed and won.@@@@1@20@@oe@2-2-2013
20749058@unknown@formal@none@1@S@If they won't change their ways voluntarily, maybe somebody bigger -- Congress -- should make them.@@@@1@16@@oe@2-2-2013
20750001@unknown@formal@none@1@S@They want late-night shuttles to the biology labs.@@@@1@8@@oe@2-2-2013
20750002@unknown@formal@none@1@S@They want a 24-hour library.@@@@1@5@@oe@2-2-2013
20750003@unknown@formal@none@1@S@And like college radicals everywhere, they are talking about a demonstration -- where protesters would gather quietly near the science building and raise their hands, classroom style.@@@@1@27@@oe@2-2-2013
20750004@unknown@formal@none@1@S@Such is the fiber of the wool that woolly intellectuals let fly at gatherings of Harvard University's new Society of Nerds and Geeks, or SONG.@@@@1@25@@oe@2-2-2013
20750005@unknown@formal@none@1@S@SONGsters are mad as heck about campus anti-intellectualism and they aren't going to take it anymore, at least not without trying a few really neat ideas first.@@@@1@27@@oe@2-2-2013
20750006@unknown@formal@none@1@S@"We could have called ourselves the Academic Intellectual Society, but then everyone would have said, `Oh, you mean the nerd-and-geek club,'" Leonid Fridman, SONG's graduate-student adviser, told 19 attendees at the club's inaugural meeting earlier this month.@@@@1@37@@oe@2-2-2013
20750007@unknown@formal@none@1@S@Membership has since swelled to between 20 and 25.@@@@1@9@@oe@2-2-2013
20750008@unknown@formal@none@1@S@Some people may think of nerds as calculator-toting, socially awkward individuals with shirt-pocket liners for their pencils and a preoccupation with computers and matters numerical.@@@@1@25@@oe@2-2-2013
20750009@unknown@formal@none@1@S@Geeks, by at least one definition, are chicken-mutilating circus freaks.@@@@1@10@@oe@2-2-2013
20750010@unknown@formal@none@1@S@But SONG founder Jeremy Kahn, a Harvard junior, thinks of nerds and geeks more as "nonconformists," albeit with a studious bent.@@@@1@21@@oe@2-2-2013
20750011@unknown@formal@none@1@S@One of the group's first projects is a "procrastination hot line" that students could call when they have an urge to delay studying.@@@@1@23@@oe@2-2-2013
20750012@unknown@formal@none@1@S@The club plans to show nerdy movies, such as "Real Genius," in which physics whizzes pop corn with lasers; and naturally, the "Revenge of the Nerds," a tale of college males with runny noses and ill-fitting pants.@@@@1@37@@oe@2-2-2013
20750013@unknown@formal@none@1@S@One of its "more ambitious goals" is to get Jaime Escalante, the Los Angeles high-school mathematics teacher featured in the film "Stand and Deliver," to come to Harvard for a guest lecture.@@@@1@32@@oe@2-2-2013
20750014@unknown@formal@none@1@S@Nerds and geeks sometimes find themselves a bit isolated at Harvard.@@@@1@11@@oe@2-2-2013
20750015@unknown@formal@none@1@S@So Mr. Kahn says high priority is being given to creating a computerized matchmaking service "where instead of being matched for eye color, you could be matched for similar intellectual interests."@@@@1@31@@oe@2-2-2013
20750016@unknown@formal@none@1@S@For instance?@@@@1@2@@oe@2-2-2013
20750017@unknown@formal@none@1@S@"I'm a math major, but I want to know about psychobiology.@@@@1@11@@oe@2-2-2013
20750018@unknown@formal@none@1@S@Hopefully, I'd find someone in psychobiology who wanted to know more about mathematics."@@@@1@13@@oe@2-2-2013
20750019@unknown@formal@none@1@S@It could work.@@@@1@3@@oe@2-2-2013
20750020@unknown@formal@none@1@S@Meanwhile, finding a volunteer to write the computer program isn't a problem.@@@@1@12@@oe@2-2-2013
20751001@unknown@formal@none@1@S@Dime Savings Bank of New York was cleared by the Federal Deposit Insurance Corp. to acquire Starpointe Savings Bank of Somerset, N.J., the banks said.@@@@1@25@@oe@2-2-2013
20751002@unknown@formal@none@1@S@Starpointe holders, who approved the plan last April, will receive $21 in cash a share, or a total $63 million.@@@@1@20@@oe@2-2-2013
20751003@unknown@formal@none@1@S@The FDIC cleared the move yesterday, and the banks must wait at least 30 days before closing the purchase.@@@@1@19@@oe@2-2-2013
20751004@unknown@formal@none@1@S@A closing date hasn't been set.@@@@1@6@@oe@2-2-2013
20752001@unknown@formal@none@1@S@AEP INDUSTRIES Inc. directors authorized a 3-for-2 split of the common, payable Dec. 7 to stock of record Nov. 22.@@@@1@20@@oe@2-2-2013
20752002@unknown@formal@none@1@S@The split was aimed at boosting the stock's liquidity, said Brendan Barba, chairman of the Moonachie, N.J., maker of plastic film products.@@@@1@22@@oe@2-2-2013
20752003@unknown@formal@none@1@S@After the split, the company will have more than 4.7 million shares outstanding.@@@@1@13@@oe@2-2-2013
20752004@unknown@formal@none@1@S@In national over-the-counter trading yesterday, AEP shares closed at $21.25, down 50 cents.@@@@1@13@@oe@2-2-2013
20753001@unknown@formal@none@1@S@CRESTMONT FEDERAL SAVINGS & LOAN ASSOCIATION (Edison, N.J.) --@@@@1@9@@oe@2-2-2013
20753002@unknown@formal@none@1@S@Lawrence B. Seidman, 41 years old, was named chairman of this savings and loan institution.@@@@1@15@@oe@2-2-2013
20753003@unknown@formal@none@1@S@He will succeed Charles L. Harrington, chairman and chief executive officer, who retired last month.@@@@1@15@@oe@2-2-2013
20753004@unknown@formal@none@1@S@Crestmont is conducting a search for a chief executive.@@@@1@9@@oe@2-2-2013
20753005@unknown@formal@none@1@S@Mr. Seidman, a director of Crestmont since July, is general partner of Seidman Financial Associates, which owns 9.89% of Crestmont.@@@@1@20@@oe@2-2-2013
20754001@unknown@formal@none@1@S@William J. Russo was named senior vice president, public affairs and advertising, for this financial and travel services concern's American Express Bank Ltd. subsidiary.@@@@1@24@@oe@2-2-2013
20754002@unknown@formal@none@1@S@Mr. Russo, 38 years old, previously was first vice president, public affairs and advertising, at the banking unit.@@@@1@18@@oe@2-2-2013
20755001@unknown@formal@none@1@S@Environmental concerns are beginning to have as much influence in oil-industry spending plans as the price of crude does.@@@@1@19@@oe@2-2-2013
20755002@unknown@formal@none@1@S@In the wake of the Exxon Valdez spill in March, new governmental drilling bans are sharply curtailing exploration in promising locations offshore and in Alaska.@@@@1@25@@oe@2-2-2013
20755003@unknown@formal@none@1@S@At the same time, moves toward tighter air-quality standards are spurring interest in lighter or alternative fuels that don't pollute as much as fuel refined from "heavy" crudes, generally high in sulfur.@@@@1@32@@oe@2-2-2013
20755004@unknown@formal@none@1@S@Over the years, the world's stream of oil has been growing heavier.@@@@1@12@@oe@2-2-2013
20755005@unknown@formal@none@1@S@So the scramble is on for lighter crudes globally, and for natural gas in the U.S.@@@@1@16@@oe@2-2-2013
20755006@unknown@formal@none@1@S@Recently Saudi Arabia and Venezuela, traditional heavy-crude producers, have boasted of new finds of light, low-sulfur oil by their national oil companies.@@@@1@22@@oe@2-2-2013
20755007@unknown@formal@none@1@S@Venezuela has also earmarked $200 million in new money for light-crude exploration.@@@@1@12@@oe@2-2-2013
20755008@unknown@formal@none@1@S@And some oil companies are trying to lock in future supplies.@@@@1@11@@oe@2-2-2013
20755009@unknown@formal@none@1@S@Typical is Ente Nazionale Idrocarburi, Italy's state-owned energy company, which not long ago acquired through its AGIP oil subsidiary a 5% share in the consortium accounting for half of Nigeria's oil output.@@@@1@32@@oe@2-2-2013
20755010@unknown@formal@none@1@S@AGIP already has an oil stake in Libya.@@@@1@8@@oe@2-2-2013
20755011@unknown@formal@none@1@S@Both countries produce high-quality, low-sulfur crudes especially suited to making high-octane motor fuel at minimum refining cost.@@@@1@17@@oe@2-2-2013
20755012@unknown@formal@none@1@S@Franco Reviglio, ENI chairman, looks for sweeping structural change in the oil industry -- he calls it a "revolution" requiring huge investments -- as a result of environmental issues.@@@@1@29@@oe@2-2-2013
20755013@unknown@formal@none@1@S@He made a special trip to examine U.S. environmental trends because they are often followed in Europe.@@@@1@17@@oe@2-2-2013
20755014@unknown@formal@none@1@S@ENI needs to know what's coming as it prepares to spend some $1.3 billion on upgrading its refineries, he says.@@@@1@20@@oe@2-2-2013
20755015@unknown@formal@none@1@S@Oil companies world-wide will have "to spend a lot of money for the cleaner fuels that will be required," says John H. Lichtblau, the president of the Petroleum Industry Research Foundation.@@@@1@31@@oe@2-2-2013
20755016@unknown@formal@none@1@S@It will go for work ranging from refinery modification to changes in the distribution system, including the way service stations pump fuel into cars.@@@@1@24@@oe@2-2-2013
20755017@unknown@formal@none@1@S@In the U.S., the search for oil had been headed toward environmentally sensitive areas believed to have vast reserves.@@@@1@19@@oe@2-2-2013
20755018@unknown@formal@none@1@S@Alaska's Arctic National Wildlife Refuge alone is thought to hide more than three billion barrels of oil.@@@@1@17@@oe@2-2-2013
20755019@unknown@formal@none@1@S@Until the tanker spill, Big Oil was slowly convincing authorities it could safely produce from such places.@@@@1@17@@oe@2-2-2013
20755020@unknown@formal@none@1@S@Now the wildlife refuge has been closed to the industry, possibly for years.@@@@1@13@@oe@2-2-2013
20755021@unknown@formal@none@1@S@Similarly, a group of companies led by Chevron Corp. has been unable to pump oil found off the California coast in the early 1980s.@@@@1@24@@oe@2-2-2013
20755022@unknown@formal@none@1@S@A huge production system built in the sea off Santa Barbara and ashore is sitting idle.@@@@1@16@@oe@2-2-2013
20755023@unknown@formal@none@1@S@But the push for cleaner fuels is increasing the attractiveness of natural gas.@@@@1@13@@oe@2-2-2013
20755024@unknown@formal@none@1@S@More than half the domestic drilling now under way is for gas, partly on the assumption that demand will rise for a fuel that is cleaner to burn than either oil or coal.@@@@1@33@@oe@2-2-2013
20755025@unknown@formal@none@1@S@Activity has revived in the largest U.S. gas-producing regions, such as the Gulf of Mexico.@@@@1@15@@oe@2-2-2013
20755026@unknown@formal@none@1@S@Santa Fe International Corp., which is owned by Kuwait (and isn't related to Santa Fe Southern Pacific's unit), is stepping up development of a well off Texas' Matagorda Island where it found gas in 1987.@@@@1@35@@oe@2-2-2013
20755027@unknown@formal@none@1@S@"We could have sat on it longer, but the impetus is to get the gas to the marketplace," says Richard Poole, senior scout for Santa Fe International.@@@@1@27@@oe@2-2-2013
20755028@unknown@formal@none@1@S@"We're trying to get it on line as soon as possible now."@@@@1@12@@oe@2-2-2013
20755029@unknown@formal@none@1@S@This month, Exxon Corp. announced plans for a 400-day project drilling for gas about five miles underground in the Anadarko Basin of western Oklahoma -- the deepest drilling project in the U.S.@@@@1@32@@oe@2-2-2013
20755030@unknown@formal@none@1@S@Exxon will use a Parker Drilling Co. rig built in 1981 that can go down 9 1/2 miles.@@@@1@18@@oe@2-2-2013
20756001@unknown@formal@none@1@S@As the Soviet Union grapples with its worsening economy, leading reformers have drawn up a blueprint for change designed to push the nation much closer to a free-market system.@@@@1@29@@oe@2-2-2013
20756002@unknown@formal@none@1@S@The proposals go far beyond the current and rather confused policies of perestroika, Mikhail Gorbachev's restructuring of the economy.@@@@1@19@@oe@2-2-2013
20756003@unknown@formal@none@1@S@They lay out a clear timetable and methodology for liberalizing the system of setting prices, breaking up huge industrial monopolies and putting unprofitable state-owned companies out of business.@@@@1@28@@oe@2-2-2013
20756004@unknown@formal@none@1@S@They also address such taboo subjects as the likelihood of unemployment and high inflation, and recommend ways to soften the social consequences.@@@@1@22@@oe@2-2-2013
20756005@unknown@formal@none@1@S@While many solutions to the nation's economic troubles are being discussed, the blueprint is attracting widespread attention here because of its comprehensiveness and presumed high-level authorship.@@@@1@26@@oe@2-2-2013
20756006@unknown@formal@none@1@S@Although it was published unsigned in the latest edition of the weekly Ekonomicheskaya Gazeta, Soviet sources say the article was written by Leonid Abalkin and a small group of colleagues.@@@@1@30@@oe@2-2-2013
20756007@unknown@formal@none@1@S@Mr. Abalkin, head of the Academy of Science's Institute of Economics, was recently appointed deputy chairman of the Soviet government and head of a state commission on economic reform.@@@@1@29@@oe@2-2-2013
20756008@unknown@formal@none@1@S@"It's clearly a manifesto for the next stage of perestroika," said one analyst.@@@@1@13@@oe@2-2-2013
20756009@unknown@formal@none@1@S@The economic ideas in the document are much bolder than current policies.@@@@1@12@@oe@2-2-2013
20756010@unknown@formal@none@1@S@For example, the proposed overhaul of prices -- an extremely sensitive political topic -- is far more precise than the vague plans announced by Mr. Gorbachev in 1987 and later dropped.@@@@1@31@@oe@2-2-2013
20756011@unknown@formal@none@1@S@But the proposals also display political savvy, couching some of the most controversial ideas in cautious language so as not to alienate powerful conservatives in the government who stand to lose out if they are implemented.@@@@1@36@@oe@2-2-2013
20756012@unknown@formal@none@1@S@Seeking a middle path between opponents of change and radicals who demand overnight solutions, the article advocates what it calls a "radical-moderate approach."@@@@1@23@@oe@2-2-2013
20756013@unknown@formal@none@1@S@The document is to be discussed at a conference of leading economists late this month, and will probably be presented to the Soviet Parliament for consideration this year.@@@@1@28@@oe@2-2-2013
20756014@unknown@formal@none@1@S@As policy-makers draw up proposals for the next five-year plan, which starts in 1991, the blueprint represents a powerful first shot in what is likely to be a fierce battle over economic reform.@@@@1@33@@oe@2-2-2013
20756015@unknown@formal@none@1@S@The authors make a gloomy assessment of the economy and concede that "quick and easy paths to success simply don't exist."@@@@1@21@@oe@2-2-2013
20756016@unknown@formal@none@1@S@Instead, they map out a strategy in several phases from now until 1995.@@@@1@13@@oe@2-2-2013
20756017@unknown@formal@none@1@S@Most of the measures would probably only start to have an effect on beleaguered Soviet consumers in two to three years at the earliest.@@@@1@24@@oe@2-2-2013
20756018@unknown@formal@none@1@S@The key steps advocated include: -- PROPERTY.@@@@1@7@@oe@2-2-2013
20756019@unknown@formal@none@1@S@Rigid ideological restrictions on property ownership should be abandoned.@@@@1@9@@oe@2-2-2013
20756020@unknown@formal@none@1@S@The document proposes breaking up the monolithic system of state-owned enterprises and farms and allowing a big private sector to flourish, helped by tough anti-monopoly legislation.@@@@1@26@@oe@2-2-2013
20756021@unknown@formal@none@1@S@The economy would be thrown open to numerous types of ownership between now and 1992, including factories leased by workers or owned by shareholders, cooperatives and joint ventures.@@@@1@28@@oe@2-2-2013
20756022@unknown@formal@none@1@S@Some forms of private property would be sanctioned.@@@@1@8@@oe@2-2-2013
20756023@unknown@formal@none@1@S@Such moves would greatly reduce the power of government ministries, who now jealously guard their turf and are seen as one of the major obstacles blocking economic reform.@@@@1@28@@oe@2-2-2013
20756024@unknown@formal@none@1@S@-- FINANCES.@@@@1@2@@oe@2-2-2013
20756025@unknown@formal@none@1@S@Emergency measures would be introduced to ease the country's financial crisis, notably its $200 billion budget deficit.@@@@1@17@@oe@2-2-2013
20756026@unknown@formal@none@1@S@By the end of next year, all loss-making state enterprises would be put out of business or handed over to workers who would buy or lease them or turn them into cooperatives.@@@@1@32@@oe@2-2-2013
20756027@unknown@formal@none@1@S@Similar steps would be taken to liquidate unprofitable state and collective farms by the end of 1991.@@@@1@17@@oe@2-2-2013
20756028@unknown@formal@none@1@S@A unified system of taxation should be introduced rapidly.@@@@1@9@@oe@2-2-2013
20756029@unknown@formal@none@1@S@To mop up some of the 300 billion rubles in circulation, the government should encourage home ownership, including issuing bonds that guarantee holders the right to purchase an apartment.@@@@1@29@@oe@2-2-2013
20756030@unknown@formal@none@1@S@-- LABOR.@@@@1@2@@oe@2-2-2013
20756031@unknown@formal@none@1@S@A genuine market for labor and wages would replace the present rigid, centralized system.@@@@1@14@@oe@2-2-2013
20756032@unknown@formal@none@1@S@Departing from decades of Soviet dogma, the new system would lead to big differences in pay between workers and almost certainly to unemployment.@@@@1@23@@oe@2-2-2013
20756033@unknown@formal@none@1@S@To cushion the blows, the government would introduce a minimum wage and unemployment benefits.@@@@1@14@@oe@2-2-2013
20756034@unknown@formal@none@1@S@-- PRICES.@@@@1@2@@oe@2-2-2013
20756035@unknown@formal@none@1@S@The entire system of centrally set prices would be overhauled, and free-market prices introduced for most wholesale trade and some retail trade.@@@@1@22@@oe@2-2-2013
20756036@unknown@formal@none@1@S@Consumers would still be able to buy some food and household goods at subsidized prices, but luxury and imported items, including food, would be sold at market prices.@@@@1@28@@oe@2-2-2013
20756037@unknown@formal@none@1@S@Wholesale prices would be divided into three categories: raw materials sold at fixed prices close to world levels; government-set procurement prices for a small number of key products; and free prices for everything else to be determined by contracts between suppliers and purchasers.@@@@1@43@@oe@2-2-2013
20756038@unknown@formal@none@1@S@Inflation-adjusted social benefits would ensure that the poor and elderly don't suffer unduly.@@@@1@13@@oe@2-2-2013
20756039@unknown@formal@none@1@S@-- FOREIGN TRADE.@@@@1@3@@oe@2-2-2013
20756040@unknown@formal@none@1@S@The current liberalization and decentralization of foreign trade would be taken much further.@@@@1@13@@oe@2-2-2013
20756041@unknown@formal@none@1@S@Soviet companies would face fewer obstacles for exports and could even invest their hard currency abroad.@@@@1@16@@oe@2-2-2013
20756042@unknown@formal@none@1@S@Foreigners would receive greater incentives to invest in the U.S.S.R.@@@@1@10@@oe@2-2-2013
20756043@unknown@formal@none@1@S@Alongside the current non-convertible ruble, a second currency would be introduced that could be freely exchanged for dollars and other Western currencies.@@@@1@22@@oe@2-2-2013
20756044@unknown@formal@none@1@S@A domestic foreign exchange market would be set up as part of an overhaul of the nation's banking system.@@@@1@19@@oe@2-2-2013
20756045@unknown@formal@none@1@S@The blueprint is at its vaguest when referring to the fate of the two powerful economic institutions that seem likely to oppose such sweeping plans: the State Planning Committee, known as Gosplan, and the State Committee for Material Supply, or Gossnab.@@@@1@41@@oe@2-2-2013
20756046@unknown@formal@none@1@S@But it hints strongly that both organizations would increasingly lose their clout as the changes, particularly the introduction of wholesale trade and the breakup of state monopolies, take effect.@@@@1@29@@oe@2-2-2013
20757001@unknown@formal@none@1@S@Ready, Willing and Unable I always lift the hood When my car doesn't start; If gadgets at home don't work I coolly take them apart.@@@@1@25@@oe@2-2-2013
20757002@unknown@formal@none@1@S@I'll admit there's nothing wrong That I ever do find, But it's nice when people say I appear mechanically inclined.@@@@1@20@@oe@2-2-2013
20757003@unknown@formal@none@1@S@-- Joshua Adams.@@@@1@3@@oe@2-2-2013
20757004@unknown@formal@none@1@S@Flick Shock@@@@1@2@@oe@2-2-2013
20757005@unknown@formal@none@1@S@At the movies today In detail you see What the prof wouldn't show In Physiology Three.@@@@1@16@@oe@2-2-2013
20757006@unknown@formal@none@1@S@-- Robert Gordon.@@@@1@3@@oe@2-2-2013
20757007@unknown@formal@none@1@S@Candid Comment@@@@1@2@@oe@2-2-2013
20757008@unknown@formal@none@1@S@Don't worry; people will learn to read as long as there are TV program listings.@@@@1@15@@oe@2-2-2013
20757009@unknown@formal@none@1@S@-- John Drybred.@@@@1@3@@oe@2-2-2013
20758001@unknown@formal@none@1@S@Albert Engelken and Robert Thomson had never met, though for 38 years their lives had been intertwined in a way peculiar to the sports world.@@@@1@25@@oe@2-2-2013
20758002@unknown@formal@none@1@S@Mr. Engelken, now a transit-association executive in Washington, D.C., and Mr. Thomson, a paper-products salesman in Montvale, N.J., hadn't even talked to each other.@@@@1@24@@oe@2-2-2013
20758003@unknown@formal@none@1@S@But one recent day, they became much closer.@@@@1@8@@oe@2-2-2013
20758004@unknown@formal@none@1@S@Mr. Engelken, a rabid baseball fan, pores over the sports pages to chart the exploits of "my favorite and not-so-favorite teams and players."@@@@1@23@@oe@2-2-2013
20758005@unknown@formal@none@1@S@He often groans, he says, at the "clutter" of sports stories about drugs, alcohol, gambling and some player's lament "about the miserly millions he is offered to play the game."@@@@1@30@@oe@2-2-2013
20758006@unknown@formal@none@1@S@His morning paper, the Washington Post, even carries a sports column called "Jurisprudence" that recounts the latest arrests and convictions of players and team managers.@@@@1@25@@oe@2-2-2013
20758007@unknown@formal@none@1@S@Like many sports buffs, Mr. Engelken has turned cynic.@@@@1@9@@oe@2-2-2013
20758008@unknown@formal@none@1@S@But his is a story about a hero in an era of sports anti-heroes, and about what Babe Ruth, Mr. Engelken reminds us, once called "the only real game in the world."@@@@1@32@@oe@2-2-2013
20758009@unknown@formal@none@1@S@To Mr. Engelken, it is also a story "about love, because I'm blessed to have a wife who still thinks her slightly eccentric husband's 50th birthday deserves the ultimate present."@@@@1@30@@oe@2-2-2013
20758010@unknown@formal@none@1@S@To understand what Mr. Engelken means, one must go back to a sunny October afternoon in 1951 at New York's Polo Grounds stadium, where, it can be argued, the most dramatic moment in baseball history was played out.@@@@1@38@@oe@2-2-2013
20758011@unknown@formal@none@1@S@It was the ninth inning of the third game of a three-game playoff between the Brooklyn Dodgers and the New York Giants (the predecessor to the San Francisco Giants scheduled to play in tonight's world series).@@@@1@36@@oe@2-2-2013
20758012@unknown@formal@none@1@S@Baseball fans throughout New York had sweated out a long summer with their teams, and now it had come to this: a battle between the two for the National League pennant -- down to the last inning of the last game, no less.@@@@1@43@@oe@2-2-2013
20758013@unknown@formal@none@1@S@Some 34,320 fans jammed the stands, and shouted at the top of their lungs.@@@@1@14@@oe@2-2-2013
20758014@unknown@formal@none@1@S@Mr. Engelken was doing the same across the Hudson River in New Jersey, where, with his nose pressed against the front window of the Passaic-Clifton National Bank, he watched the duel on a television set the bank set up for the event.@@@@1@42@@oe@2-2-2013
20758015@unknown@formal@none@1@S@The playoff series had riveted the 12-year-old Giants fan.@@@@1@9@@oe@2-2-2013
20758016@unknown@formal@none@1@S@"The Giants struck first, winning the opener, 3-1, on a two-run homer off Dodger right-hander Ralph Branca," Mr. Engelken recalls with precision today.@@@@1@23@@oe@2-2-2013
20758017@unknown@formal@none@1@S@"The Giants got swamped in the second game, 100, and trailed 4-1 going into the bottom of the ninth of the third and deciding game.@@@@1@25@@oe@2-2-2013
20758018@unknown@formal@none@1@S@The Giants scored once and had runners on second {Whitey Lockman} and third {Clint Hartung} as Bobby Thomson advanced to the plate."@@@@1@22@@oe@2-2-2013
20758019@unknown@formal@none@1@S@The rest, as they say, is history.@@@@1@7@@oe@2-2-2013
20758020@unknown@formal@none@1@S@Mr. Thomson, a tall, Scottish-born, right-hand hitter, stepped into the batter's box.@@@@1@12@@oe@2-2-2013
20758021@unknown@formal@none@1@S@"Thomson took a called strike," Mr. Engelken recounts.@@@@1@8@@oe@2-2-2013
20758022@unknown@formal@none@1@S@The tension mounted as Ralph Branca, again on the mound, stared down the batter.@@@@1@14@@oe@2-2-2013
20758023@unknown@formal@none@1@S@He wound up and let loose a fastball.@@@@1@8@@oe@2-2-2013
20758024@unknown@formal@none@1@S@The pitch sailed toward Bobby Thomson high and inside and then, with a crack of the bat, was sent rocketing back into the lower leftfield stands.@@@@1@26@@oe@2-2-2013
20758025@unknown@formal@none@1@S@"Giants fans went into euphoria," says Mr. Engelken.@@@@1@8@@oe@2-2-2013
20758026@unknown@formal@none@1@S@And Bobby Thomson was made a legend.@@@@1@7@@oe@2-2-2013
20758027@unknown@formal@none@1@S@The same Bobby Thomson, it turns out, who sells those paper-goods today.@@@@1@12@@oe@2-2-2013
20758028@unknown@formal@none@1@S@There can't be an older baseball fan alive who doesn't clearly remember that Bobby Thomson homer, who can't tell you where he was when he heard the famous Russ Hodges radio broadcast -- the one that concluded with Mr. Hodges shouting, over and over, "The Giants win the pennant, the Giants win the pennant!"@@@@1@54@@oe@2-2-2013
20758029@unknown@formal@none@1@S@Mr. Engelken and Mr. Thomson drifted in different directions in the subsequent years, and the Polo Grounds, located under Coogan's Bluff in upper Manhattan, was replaced by a public-housing project.@@@@1@30@@oe@2-2-2013
20758030@unknown@formal@none@1@S@Mr. Thomson played outfield and third base until 1960, posting a lifetime .270 batting average and chalking up 264 home runs before retiring and going into paper-goods sales.@@@@1@28@@oe@2-2-2013
20758031@unknown@formal@none@1@S@Mr. Engelken moved south to Washington, but he took with him enduring memories of the homer of 1951.@@@@1@18@@oe@2-2-2013
20758032@unknown@formal@none@1@S@When his wife, Betsy, came down the aisle on their wedding day in 1966, Mr. Engelken -- no slouch on the romantic front -- gave her the ultimate compliment: "You look prettier than Bobby Thomson's home run."@@@@1@37@@oe@2-2-2013
20758033@unknown@formal@none@1@S@The couple's first dog, Homer, was named after the Great Event, though unwitting friends assumed he was the namesake of the poet.@@@@1@22@@oe@2-2-2013
20758034@unknown@formal@none@1@S@And when Mr. Engelken's sister, Martha, who was born two days before the home run, reached her 25th birthday, Mr. Engelken wrote his sports hero to tell him of the coincidence of events.@@@@1@33@@oe@2-2-2013
20758035@unknown@formal@none@1@S@Mr. Thomson sent off a card to Martha: "It doesn't seem like 25 years since I hit that home run to celebrate your birth," it read.@@@@1@26@@oe@2-2-2013
20758036@unknown@formal@none@1@S@Martha was pleased, but nowhere near as much as Mr. Engelken.@@@@1@11@@oe@2-2-2013
20758037@unknown@formal@none@1@S@The family license plate reads "ENG 23," the first three letters of the family name and -- no surprise here -- Bobby Thomson's uniform number.@@@@1@25@@oe@2-2-2013
20758038@unknown@formal@none@1@S@And on Mr. Engelken's 40th birthday, his wife bought a book detailing the big homer and sent it off to Mr. Thomson to be autographed.@@@@1@25@@oe@2-2-2013
20758039@unknown@formal@none@1@S@"What could have been better?" asks Mr. Engelken.@@@@1@8@@oe@2-2-2013
20758040@unknown@formal@none@1@S@Betsy Engelken asked the same question earlier this year, when her husband was about to turn 50.@@@@1@17@@oe@2-2-2013
20758041@unknown@formal@none@1@S@She had an idea.@@@@1@4@@oe@2-2-2013
20758042@unknown@formal@none@1@S@On her husband's 50th birthday (after an auspicious 23 years of marriage, it should be noted), Betsy, Al and their college-bound son set out for New York to visit Fordham University.@@@@1@31@@oe@2-2-2013
20758043@unknown@formal@none@1@S@Mrs. Engelken had scheduled a stop on the New Jersey Turnpike to, she told her husband, pick up some papers for a neighbor.@@@@1@23@@oe@2-2-2013
20758044@unknown@formal@none@1@S@The papers would be handed over at a bank of telephone booths just off Exit 10.@@@@1@16@@oe@2-2-2013
20758045@unknown@formal@none@1@S@"It sounded like something out of Ian Fleming," Mr. Engelken recalls.@@@@1@11@@oe@2-2-2013
20758046@unknown@formal@none@1@S@At the appointed exit, the family pulled over, and Mrs. Engelken went to get her papers.@@@@1@16@@oe@2-2-2013
20758047@unknown@formal@none@1@S@Mr. Engelken turned off the motor and rolled down the window.@@@@1@11@@oe@2-2-2013
20758048@unknown@formal@none@1@S@In a matter of minutes, she was back, with a tall, silver-haired man in tow.@@@@1@15@@oe@2-2-2013
20758049@unknown@formal@none@1@S@She crouched down by the car window and addressed her husband with her favorite nickname:@@@@1@15@@oe@2-2-2013
20758050@unknown@formal@none@1@S@"Bertie," she said, "Happy 50th Birthday.@@@@1@6@@oe@2-2-2013
20758051@unknown@formal@none@1@S@This is Bobby Thomson."@@@@1@4@@oe@2-2-2013
20758052@unknown@formal@none@1@S@"And there he was," recalls Mr. Engelken.@@@@1@7@@oe@2-2-2013
20758053@unknown@formal@none@1@S@"The hero of my youth, the one person in history I'd most like to meet.@@@@1@15@@oe@2-2-2013
20758054@unknown@formal@none@1@S@Keep your Thomas Jeffersons, or St. Augustines or Michelangelos; I'd take baseball's Flying Scot without hesitation."@@@@1@16@@oe@2-2-2013
20758055@unknown@formal@none@1@S@They talked of the home run.@@@@1@6@@oe@2-2-2013
20758056@unknown@formal@none@1@S@"I thought it was in the upper deck," said Bobby Thomson, now 66 years old.@@@@1@15@@oe@2-2-2013
20758057@unknown@formal@none@1@S@They talked of the aftermath.@@@@1@5@@oe@2-2-2013
20758058@unknown@formal@none@1@S@"I never thought it would become so momentous," Bobby remarked.@@@@1@10@@oe@2-2-2013
20758059@unknown@formal@none@1@S@Mr. Engelken, says his wife, "was overwhelmed by the whole thing.@@@@1@11@@oe@2-2-2013
20758060@unknown@formal@none@1@S@It was worth it, just for the look on Albert's face."@@@@1@11@@oe@2-2-2013
20758061@unknown@formal@none@1@S@The two men spent an hour at Exit 10, rehashing the event, "fulfilling the lifelong dream of a young boy now turned 50," Mr. Engelken says.@@@@1@26@@oe@2-2-2013
20758062@unknown@formal@none@1@S@His hero signed photographs of the homer and diplomatically called Ralph Branca "a very fine pitcher."@@@@1@16@@oe@2-2-2013
20758063@unknown@formal@none@1@S@And when Mr. Engelken asked him why he took time off from work for somebody he didn't even know, Bobby Thomson replied: "You know, Albert, if you have the chance in life to make somebody this happy, you have an obligation to do it."@@@@1@44@@oe@2-2-2013
20758064@unknown@formal@none@1@S@In an interview, Mr. Thomson, who is married and has three grown children, says he has few ties to baseball these days, other than playing old-timers games now and again.@@@@1@30@@oe@2-2-2013
20758065@unknown@formal@none@1@S@But his fans, to his constant amazement, never let him forget the famous four-bagger.@@@@1@14@@oe@2-2-2013
20758066@unknown@formal@none@1@S@His mail regularly recalls "my one event," and has been growing in recent years.@@@@1@14@@oe@2-2-2013
20758067@unknown@formal@none@1@S@In response to the letters, Mr. Thomson usually sends an autographed photo with a polite note, and rarely arranges a rendezvous.@@@@1@21@@oe@2-2-2013
20758068@unknown@formal@none@1@S@But when Betsy Engelken wrote him, saying she could stop near his New Jersey home, it seemed different.@@@@1@18@@oe@2-2-2013
20758069@unknown@formal@none@1@S@"What a good feeling it would be for me to do that," he says he thought.@@@@1@16@@oe@2-2-2013
20758070@unknown@formal@none@1@S@When the Engelken family got back from its trip up north, Mr. Engelken wrote it all down, just to make sure no detail was missed.@@@@1@25@@oe@2-2-2013
20758071@unknown@formal@none@1@S@"On the way home," his notes recall, "it took concentrated effort to keep that car pointed south.@@@@1@17@@oe@2-2-2013
20758072@unknown@formal@none@1@S@My mind was miles north at a place called Coogan's Bluff, where a real sports hero had captured the imagination of a kid who never fully grew up and is all the richer for it.@@@@1@35@@oe@2-2-2013
20758073@unknown@formal@none@1@S@"Take heart, sports fans," he wrote.@@@@1@6@@oe@2-2-2013
20758074@unknown@formal@none@1@S@"Real heroes exist.@@@@1@3@@oe@2-2-2013
20758075@unknown@formal@none@1@S@You might not find one in the `Jurisprudence' column.@@@@1@9@@oe@2-2-2013
20758076@unknown@formal@none@1@S@But who knows?@@@@1@3@@oe@2-2-2013
20758077@unknown@formal@none@1@S@You might meet up with him at that bank of telephone booths just off Exit 10 of the New Jersey Turnpike.@@@@1@21@@oe@2-2-2013
20759001@unknown@formal@none@1@S@Southam Inc. said its unprofitable weekly newspaper, The Financial Times of Canada, is up for sale.@@@@1@16@@oe@2-2-2013
20759002@unknown@formal@none@1@S@Analysts said the announcement, the latest in a series of divestitures and restructuring moves, is aimed at improving Southam's earnings before the expiration in June of a standstill pact with Torstar Corp.@@@@1@32@@oe@2-2-2013
20759003@unknown@formal@none@1@S@When that agreement expires, Torstar will be free to increase its 22.4% stake in Southam, or to make an offer for the whole company.@@@@1@24@@oe@2-2-2013
20759004@unknown@formal@none@1@S@Descendants of the Southam family hold an additional 22.6% stake in the Toronto-based company, Canada's largest newspaper publisher.@@@@1@18@@oe@2-2-2013
20759005@unknown@formal@none@1@S@The newspaper could fetch between 15 million and 20 million Canadian dollars (US$12.8 million to $17.1 million), said one analyst, who asked not to be identified.@@@@1@26@@oe@2-2-2013
20759006@unknown@formal@none@1@S@A spokesman for Southam declined to comment on the price the company is seeking or on estimates of the paper's annual losses, which most analysts place at between C$4 million and C$7 million.@@@@1@33@@oe@2-2-2013
20759007@unknown@formal@none@1@S@Yesterday, Southam reported third-quarter earnings of C$10.8 million on revenue of C$395.4 million, down from C$14.6 million on revenue of C$389.6 million in the year-ago quarter.@@@@1@26@@oe@2-2-2013
20759008@unknown@formal@none@1@S@"To be profitable, the paper requires more circulation and building circulation is an expensive undertaking," said John Macfarlane, the paper's publisher.@@@@1@21@@oe@2-2-2013
20759009@unknown@formal@none@1@S@Southam said the level of future investment required by the paper would have restricted its options in other areas.@@@@1@19@@oe@2-2-2013
20759010@unknown@formal@none@1@S@The acquisition of the Financial Times of Canada is "well within reach for any number of media companies, both public and private," said James Cole, an analyst with Toronto-based BBN James Capel Inc.@@@@1@33@@oe@2-2-2013
20759011@unknown@formal@none@1@S@Possible bidders include Christopher Ondaatje, a Toronto financier and vice chairman of Hees International Bancorp Inc., a holding company controlled by Toronto's Bronfman family.@@@@1@24@@oe@2-2-2013
20759012@unknown@formal@none@1@S@Mr. Ondaatje sold his stake in Pagurian Corp. to Hees earlier this year and is said to be seeking a media acquisition.@@@@1@22@@oe@2-2-2013
20759013@unknown@formal@none@1@S@Mr. Ondaatje couldn't be reached for comment, but Roy Mac-Laren, chairman of CB Media, a closely held concern that publishes two business magazines, said his company would take a close look at the newspaper.@@@@1@34@@oe@2-2-2013
20759014@unknown@formal@none@1@S@Mr. Cole said the sale of the 77-year Financial Times, which Southam has owned since 1961, is consistent with Southam's strategy of cutting costs to obtain maximum profits from its operations while disposing of "chronically under-performing" assets.@@@@1@37@@oe@2-2-2013
20759015@unknown@formal@none@1@S@Southam agreed to sell its 47% stake in Selkirk Communications Ltd., a broadcasting concern, to Maclean Hunter Ltd. for about C$285 million last year.@@@@1@24@@oe@2-2-2013
20759016@unknown@formal@none@1@S@This year, it has moved to cut costs in its newspaper division through layoffs and asset sales, while reaching joint venture and acquisition agreements in other areas.@@@@1@27@@oe@2-2-2013
20759017@unknown@formal@none@1@S@The Financial Times of Canada has no links to the British daily newspaper, The Financial Times.@@@@1@16@@oe@2-2-2013
20760001@unknown@formal@none@1@S@Norton Co. said net income for the third quarter fell 6% to $20.6 million, or 98 cents a share, from $22 million, or $1.03 a share.@@@@1@26@@oe@2-2-2013
20760002@unknown@formal@none@1@S@Operating profit for the abrasives, engineering materials and petroleum services concern was $19.2 million, or 91 cents a share, up 3% from $18.7 million, or 87 cents a share.@@@@1@29@@oe@2-2-2013
20760003@unknown@formal@none@1@S@The company had a tax credit of $1.4 million.@@@@1@9@@oe@2-2-2013
20760004@unknown@formal@none@1@S@In the year-earlier quarter, the tax credit was $3.3 million.@@@@1@10@@oe@2-2-2013
20760005@unknown@formal@none@1@S@Sales rose 8% to $368.5 million from $340.7 million.@@@@1@9@@oe@2-2-2013
20760006@unknown@formal@none@1@S@Operating profit in the company's abrasives segment rose 16% while operating profit in the engineering materials segment rose 2%.@@@@1@19@@oe@2-2-2013
20760007@unknown@formal@none@1@S@However, the company's petroleum services segment, while profitable, was hurt by high financing costs associated with the company's buy-out of a 50% stake in Eastman Christensen Co. from Texas Eastern Corp. last June.@@@@1@33@@oe@2-2-2013
20760008@unknown@formal@none@1@S@Norton and Texas Eastern had each held a 50% stake in Eastman in a joint venture.@@@@1@16@@oe@2-2-2013
20760009@unknown@formal@none@1@S@Norton announced earlier this month that it was exploring the possible sale of all or part of Eastman Christensen.@@@@1@19@@oe@2-2-2013
20760010@unknown@formal@none@1@S@For the nine months, Norton had net of $81.2 million, or $3.87 a share, and a tax credit of $4.4 million.@@@@1@21@@oe@2-2-2013
20760011@unknown@formal@none@1@S@In the year-earlier period, the company had net of $77.2 million, or $3.68 a share, and a tax credit of $7.7 million.@@@@1@22@@oe@2-2-2013
20760012@unknown@formal@none@1@S@Norton had operating profit of $76.8 million, or $3.66 a share, up 11% from $69.5 million, or $3.31 a share.@@@@1@20@@oe@2-2-2013
20760013@unknown@formal@none@1@S@Sales rose 8% to $1.15 billion from $1.06 billion.@@@@1@9@@oe@2-2-2013
20761001@unknown@formal@none@1@S@Y.J. Park and her family scrimped for four years to buy a tiny apartment here, but found that the closer they got to saving the $40,000 they originally needed, the more the price rose.@@@@1@34@@oe@2-2-2013
20761002@unknown@formal@none@1@S@By this month, it had more than doubled.@@@@1@8@@oe@2-2-2013
20761003@unknown@formal@none@1@S@Now the 33-year-old housewife, whose husband earns a modest salary as an assistant professor of economics, is saving harder than ever.@@@@1@21@@oe@2-2-2013
20761004@unknown@formal@none@1@S@"I am determined to get an apartment in three years," she says.@@@@1@12@@oe@2-2-2013
20761005@unknown@formal@none@1@S@"It's all I think about or talk about."@@@@1@8@@oe@2-2-2013
20761006@unknown@formal@none@1@S@For the Parks and millions of other young Koreans, the long-cherished dream of home ownership has become a cruel illusion.@@@@1@20@@oe@2-2-2013
20761007@unknown@formal@none@1@S@For the government, it has become a highly volatile political issue.@@@@1@11@@oe@2-2-2013
20761008@unknown@formal@none@1@S@Last May, a government panel released a report on the extent and causes of the problem.@@@@1@16@@oe@2-2-2013
20761009@unknown@formal@none@1@S@During the past 15 years, the report showed, housing prices increased nearly fivefold.@@@@1@13@@oe@2-2-2013
20761010@unknown@formal@none@1@S@The report laid the blame on speculators, who it said had pushed land prices up ninefold.@@@@1@16@@oe@2-2-2013
20761011@unknown@formal@none@1@S@The panel found that since 1987, real-estate prices rose nearly 50% in a speculative fever fueled by economic prosperity, the 1988 Seoul Olympics and the government's pledge to rapidly develop Korea's southwest.@@@@1@32@@oe@2-2-2013
20761012@unknown@formal@none@1@S@The result is that those rich enough to own any real estate at all have boosted their holdings substantially.@@@@1@19@@oe@2-2-2013
20761013@unknown@formal@none@1@S@For those with no holdings, the prospects of buying a home are ever slimmer.@@@@1@14@@oe@2-2-2013
20761014@unknown@formal@none@1@S@In 1987, a quarter of the population owned 91% of the nation's 71,895 square kilometers of private land, the report said, and 10% of the population owned 65% of the land devoted to housing.@@@@1@34@@oe@2-2-2013
20761015@unknown@formal@none@1@S@Meanwhile, the government's Land Bureau reports that only about a third of Korean families own their own homes.@@@@1@18@@oe@2-2-2013
20761016@unknown@formal@none@1@S@Rents have soared along with house prices.@@@@1@7@@oe@2-2-2013
20761017@unknown@formal@none@1@S@Former National Assemblyman Hong Sa-Duk, now a radio commentator, says the problem is intolerable for many people.@@@@1@17@@oe@2-2-2013
20761018@unknown@formal@none@1@S@"I'm afraid of a popular revolt if this situation isn't corrected," he adds.@@@@1@13@@oe@2-2-2013
20761019@unknown@formal@none@1@S@In fact, during the past three months there have been several demonstrations at the office complex where the Land Bureau is housed, and at the National Assembly, demanding the government put a stop to real-estate speculation.@@@@1@36@@oe@2-2-2013
20761020@unknown@formal@none@1@S@President Roh Tae Woo's administration has been studying the real-estate crisis for the past year with an eye to partial land redistribution.@@@@1@22@@oe@2-2-2013
20761021@unknown@formal@none@1@S@Last week, the government took three bills to the National Assembly.@@@@1@11@@oe@2-2-2013
20761022@unknown@formal@none@1@S@The proposed legislation is aimed at rectifying some of the inequities in the current land-ownership system.@@@@1@16@@oe@2-2-2013
20761023@unknown@formal@none@1@S@Highlights of the bills, as currently framed, are: -- A restriction on the amount of real estate one family can own, to 660 square meters in the nation's six largest cities, but more in smaller cities and rural areas.@@@@1@39@@oe@2-2-2013
20761024@unknown@formal@none@1@S@The government will penalize offenders, but won't confiscate property.@@@@1@9@@oe@2-2-2013
20761025@unknown@formal@none@1@S@-- A tax of between 3% and 6% on property holdings that exceed the governmentset ceiling.@@@@1@16@@oe@2-2-2013
20761026@unknown@formal@none@1@S@-- Taxes of between 15% and 50% a year on "excessive" profits from the resale of property, or the sale of idle land to the government.@@@@1@26@@oe@2-2-2013
20761027@unknown@formal@none@1@S@The government defines excessive profits as those above the average realized for other similar-sized properties in an area.@@@@1@18@@oe@2-2-2013
20761028@unknown@formal@none@1@S@-- Grace periods ranging from two to five years before the full scope of the penalties takes effect.@@@@1@18@@oe@2-2-2013
20761029@unknown@formal@none@1@S@The administration says the measures would stem rampant property speculation, free more land for the government's ambitious housing-construction program, designed to build two million apartments by 1992 -- and, perhaps, boost the popular standing of President Roh.@@@@1@37@@oe@2-2-2013
20761030@unknown@formal@none@1@S@But opposition legislators and others calling for help for South Korea's renters say the proposed changes don't go far enough to make it possible for ordinary people to buy a home.@@@@1@31@@oe@2-2-2013
20761031@unknown@formal@none@1@S@Some want lower limits on house sizes; others insist on progressively higher taxation for larger homes and lots.@@@@1@18@@oe@2-2-2013
20761032@unknown@formal@none@1@S@The Citizens Coalition for Economic Justice, a public-interest group leading the charge for radical reform, wants restrictions on landholdings, high taxation of capital gains, and drastic revamping of the value-assessment system on which property taxes are based.@@@@1@37@@oe@2-2-2013
20761033@unknown@formal@none@1@S@But others, large landowners, real-estate developers and business leaders, say the government's proposals are intolerable.@@@@1@15@@oe@2-2-2013
20761034@unknown@formal@none@1@S@Led by the Federation of Korean Industries, the critics are lobbying for the government to weaken its proposed restrictions and penalties.@@@@1@21@@oe@2-2-2013
20761035@unknown@formal@none@1@S@Government officials who are urging real-estate reforms balk at the arguments of business leaders and chafe at their pressure.@@@@1@19@@oe@2-2-2013
20761036@unknown@formal@none@1@S@"There is no violation of the capitalistic principle of private property in what we are doing," says Lee Kyu Hwang, director of the government's Land Bureau, which drafted the bills.@@@@1@30@@oe@2-2-2013
20761037@unknown@formal@none@1@S@But, he adds, the constitution empowers the government to impose some controls, to mitigate the shortage of land.@@@@1@18@@oe@2-2-2013
20761038@unknown@formal@none@1@S@The land available for housing construction stands at about 46.2 square meters a person -- 18% lower than in Taiwan and only about half that of Japan.@@@@1@27@@oe@2-2-2013
20761039@unknown@formal@none@1@S@Mr. Lee estimates that about 10,000 property speculators are operating in South Korea.@@@@1@13@@oe@2-2-2013
20761040@unknown@formal@none@1@S@The chief culprits, he says, are big companies and business groups that buy huge amounts of land "not for their corporate use, but for resale at huge profit."@@@@1@28@@oe@2-2-2013
20761041@unknown@formal@none@1@S@One research institute calculated that as much as 67% of corporate-owned land is held by 403 companies -- and that as little as 1.5% of that is used for business.@@@@1@30@@oe@2-2-2013
20761042@unknown@formal@none@1@S@The government's Office of Bank Supervision and Examination told the National Assembly this month that in the first half of 1989, the nation's 30 largest business groups bought real estate valued at $1.5 billion.@@@@1@34@@oe@2-2-2013
20761043@unknown@formal@none@1@S@The Ministry of Finance, as a result, has proposed a series of measures that would restrict business investment in real estate even more tightly than restrictions aimed at individuals.@@@@1@29@@oe@2-2-2013
20761044@unknown@formal@none@1@S@Under those measures, financial institutions would be restricted from owning any more real estate than they need for their business operations.@@@@1@21@@oe@2-2-2013
20761045@unknown@formal@none@1@S@Banks, investment and credit firms would be permitted to own land equivalent in value to 50% of their capital -- currently the proportion is 75%.@@@@1@25@@oe@2-2-2013
20761046@unknown@formal@none@1@S@The maximum allowable property holdings for insurance companies would be reduced to 10% of their total asset value, down from 15% currently.@@@@1@22@@oe@2-2-2013
20761047@unknown@formal@none@1@S@But Mrs. Park acknowledges that even if the policies work to slow or stop speculation, apartment prices are unlikely to go down.@@@@1@22@@oe@2-2-2013
20761048@unknown@formal@none@1@S@At best, she realizes, they will rise more slowly -- more slowly, she hopes, than her family's income.@@@@1@18@@oe@2-2-2013
20762001@unknown@formal@none@1@S@CAMBREX Corp., Bayonne, N.J., declared its initial quarterly of five cents a share, payable Dec. 1 to stock of record Nov. 10.@@@@1@22@@oe@2-2-2013
20762002@unknown@formal@none@1@S@The maker of specialty chemicals has about 5.9 million shares outstanding.@@@@1@11@@oe@2-2-2013
20762003@unknown@formal@none@1@S@The company said the move recognizes its strong financial position.@@@@1@10@@oe@2-2-2013
20762004@unknown@formal@none@1@S@Although profits were "squeezed" in 1989, mainly as a result of higher raw-material costs, the company said it is confident about future earnings and cash flow for 1990 and beyond.@@@@1@30@@oe@2-2-2013
20762005@unknown@formal@none@1@S@In national over-the-counter trading yesterday, Cambrex shares rose 50 cents to close at $13 a share.@@@@1@16@@oe@2-2-2013
20763001@unknown@formal@none@1@S@The Justice Department said it is seeking to join a private lawsuit challenging a Pittsburgh suburb's zoning ordinance that sharply restricts the locations available to group homes for the handicapped.@@@@1@30@@oe@2-2-2013
20763002@unknown@formal@none@1@S@This would be the department's first suit challenging a local zoning ordinance under 1988 amendments to the Fair Housing Act.@@@@1@20@@oe@2-2-2013
20763003@unknown@formal@none@1@S@Under those amendments, which took effect in March of this year, the federal government can intervene in private housing-discrimination lawsuits.@@@@1@20@@oe@2-2-2013
20763004@unknown@formal@none@1@S@The ordinance, in Moon Township, prohibits locating a group home for the handicapped within a mile of another such facility.@@@@1@20@@oe@2-2-2013
20763005@unknown@formal@none@1@S@In papers filed with the federal district court in Pittsburgh, the Justice Department alleged that the ordinance, by limiting the number of group homes that can be established in the township, makes housing unavailable on account of handicap.@@@@1@38@@oe@2-2-2013
20763006@unknown@formal@none@1@S@The private suit was brought by three mentally retarded people who live in a group home in Moon.@@@@1@18@@oe@2-2-2013
20763007@unknown@formal@none@1@S@Greg Smith, Moon Township manager, said the ordinance is intended to prevent the concentration of group homes for the mentally retarded from changing "the character and flavor of the neighborhood."@@@@1@30@@oe@2-2-2013
20763008@unknown@formal@none@1@S@He said the ordinance also will benefit the mentally retarded.@@@@1@10@@oe@2-2-2013
20763009@unknown@formal@none@1@S@"Our intent is to spread them out" to insure they are well integrated into the community, he said.@@@@1@18@@oe@2-2-2013
20764001@unknown@formal@none@1@S@Energetic and concrete action has been taken in Colombia during the past 60 days against the mafiosi of the drug trade, but it has not been sufficiently effective, because, unfortunately, it came too late.@@@@1@34@@oe@2-2-2013
20764002@unknown@formal@none@1@S@Ten years ago, the newspaper El Espectador, of which my brother Guillermo was editor, began warning of the rise of the drug mafias and of their leaders' aspirations to control Colombian politics, especially the Congress.@@@@1@35@@oe@2-2-2013
20764003@unknown@formal@none@1@S@Then, when it would have been easier to resist them, nothing was done and my brother was murdered by the drug mafias three years ago.@@@@1@25@@oe@2-2-2013
20764004@unknown@formal@none@1@S@The most ruthless dictatorships have not censored their press more brutally than the drug mafias censor Colombia's.@@@@1@17@@oe@2-2-2013
20764005@unknown@formal@none@1@S@The censorship is enforced through terrorism and assassination.@@@@1@8@@oe@2-2-2013
20764006@unknown@formal@none@1@S@In the past 10 years about 50 journalists have been silenced forever, murdered.@@@@1@13@@oe@2-2-2013
20764007@unknown@formal@none@1@S@Within the past two months a bomb exploded in the offices of the El Espectador in Bogota, destroying a major part of its installations and equipment.@@@@1@26@@oe@2-2-2013
20764008@unknown@formal@none@1@S@And only last week the newspaper Vanguardia Liberal in the city of Bucaramanga was bombed, and its installations destroyed.@@@@1@19@@oe@2-2-2013
20764009@unknown@formal@none@1@S@Journalists and their families are constantly threatened as are the newspaper distribution outlets.@@@@1@13@@oe@2-2-2013
20764010@unknown@formal@none@1@S@Distribution centers are bombed, and advertisers are intimidated.@@@@1@8@@oe@2-2-2013
20764011@unknown@formal@none@1@S@Censorship is imposed by terrorism.@@@@1@5@@oe@2-2-2013
20764012@unknown@formal@none@1@S@If the Colombian media accept this new and hideous censorship there is little doubt that the drug mafia's terrorism someday will extend to all the newspapers published in the free world.@@@@1@31@@oe@2-2-2013
20764013@unknown@formal@none@1@S@The solidarity of the uncensored media world-wide against drug terrorism is the only way press freedom can survive.@@@@1@18@@oe@2-2-2013
20764014@unknown@formal@none@1@S@The American people and their government also woke up too late to the menace drugs posed to the moral structure of their country.@@@@1@23@@oe@2-2-2013
20764015@unknown@formal@none@1@S@Even now, the American attack upon this tremendous problem is timid in relation to the magnitude of the threat.@@@@1@19@@oe@2-2-2013
20764016@unknown@formal@none@1@S@I can attest that a recent Colombian visitor to the U.S. was offered drugs three times in the few blocks' walk between Grand Central Terminal and the Waldorf Astoria Hotel in midtown Manhattan.@@@@1@33@@oe@2-2-2013
20764017@unknown@formal@none@1@S@Colombia alone -- its government, its people, its newspapers -- does not have the capacity to fight this battle successfully.@@@@1@20@@oe@2-2-2013
20764018@unknown@formal@none@1@S@All drug-consuming countries must jointly decide to combat and punish the consumers and distributors of drugs.@@@@1@16@@oe@2-2-2013
20764019@unknown@formal@none@1@S@The U.S., as the major drug consumer, should lead this joint effort.@@@@1@12@@oe@2-2-2013
20764020@unknown@formal@none@1@S@Reduction, if not the total cessation, of drug consumption is the requirement for victory.@@@@1@14@@oe@2-2-2013
20764021@unknown@formal@none@1@S@Much is being done in Colombia to fight the drug cartel mafia.@@@@1@12@@oe@2-2-2013
20764022@unknown@formal@none@1@S@Luxurious homes and ranches have been raided by the military authorities, and sophisticated and powerful communications equipment have been seized.@@@@1@20@@oe@2-2-2013
20764023@unknown@formal@none@1@S@More than 300 planes and helicopters have been impounded at airports, and a large number of vehicles and launches has been confiscated.@@@@1@22@@oe@2-2-2013
20764024@unknown@formal@none@1@S@The military has also captured enormous arsenals of powerful and sophisticated weapons, explosives and other war-like materiel.@@@@1@17@@oe@2-2-2013
20764025@unknown@formal@none@1@S@Much has been accomplished and public opinion decisively supports the government and the army -- but, on the other hand, none of the key drug barons have been captured.@@@@1@29@@oe@2-2-2013
20764026@unknown@formal@none@1@S@There has been a lot of talk that a large portion of the Colombian economy is sustained by the laundering of drug money.@@@@1@23@@oe@2-2-2013
20764027@unknown@formal@none@1@S@In my opinion, this is not true.@@@@1@7@@oe@2-2-2013
20764028@unknown@formal@none@1@S@Laundered drug money has served only to increase, unrealistically, the price of real estate, creating serious problems for low-income people who aspire to own their own homes.@@@@1@27@@oe@2-2-2013
20764029@unknown@formal@none@1@S@Drug money has also gone to buy expensive cars, airplanes, launches and nightclubs where drugs are consumed.@@@@1@17@@oe@2-2-2013
20764030@unknown@formal@none@1@S@But most of the drug money is kept in investments and in financial institutions outside Colombia.@@@@1@16@@oe@2-2-2013
20764031@unknown@formal@none@1@S@In fact, the cooperation of those financial institutions is essential to the success of the drug battle.@@@@1@17@@oe@2-2-2013
20764032@unknown@formal@none@1@S@What is of much more importance to the Colombian economy than the supposed benefits of laundered drug money is higher prices for Colombia's legitimate products.@@@@1@25@@oe@2-2-2013
20764033@unknown@formal@none@1@S@The price of coffee has gone down almost 45% since the beginning of the year, to the lowest level (after inflation) since the Great Depression.@@@@1@25@@oe@2-2-2013
20764034@unknown@formal@none@1@S@Market conditions point to even lower prices next year.@@@@1@9@@oe@2-2-2013
20764035@unknown@formal@none@1@S@The 27-year-old coffee cartel had to be formally dissolved this summer.@@@@1@11@@oe@2-2-2013
20764036@unknown@formal@none@1@S@As a result, Colombia will earn $500 million less from its coffee this year than last.@@@@1@16@@oe@2-2-2013
20764037@unknown@formal@none@1@S@Our coffee growers face reductions in their income, and this tempts them to contemplate substituting coca crops for coffee.@@@@1@19@@oe@2-2-2013
20764038@unknown@formal@none@1@S@U.S. interests occasionally try to impose barriers to the import of another important Colombian export -- cut flowers -- into the American market.@@@@1@23@@oe@2-2-2013
20764039@unknown@formal@none@1@S@A just price and an open market for what Colombian produces and exports should be the policy of the U.S.@@@@1@20@@oe@2-2-2013
20764040@unknown@formal@none@1@S@I take advantage of this opportunity given to me by The Wall Street Journal to make a plea to the millions of readers of this newspaper, to become soldiers dedicated to the fight against the use of drugs.@@@@1@38@@oe@2-2-2013
20764041@unknown@formal@none@1@S@Each gram of cocaine consumed is a deadly bullet against those in our country and in the rest of the world who fight this terrible scourge.@@@@1@26@@oe@2-2-2013
20764042@unknown@formal@none@1@S@A crusade of NO to the consumption of drugs is imperative.@@@@1@11@@oe@2-2-2013
20764043@unknown@formal@none@1@S@Mr. Cano is president of El Espectador, a newspaper founded by his grandfather.@@@@1@13@@oe@2-2-2013
20765001@unknown@formal@none@1@S@It has more drug users than Boston has people.@@@@1@9@@oe@2-2-2013
20765002@unknown@formal@none@1@S@Thirty-four thousand of its children live in foster homes, while 50,000 residents have no homes at all.@@@@1@17@@oe@2-2-2013
20765003@unknown@formal@none@1@S@Its tax base is shrinking, a $1 billion budget deficit looms, and the city faces contract negotiations with all major municipal unions next year.@@@@1@24@@oe@2-2-2013
20765004@unknown@formal@none@1@S@This is New York City.@@@@1@5@@oe@2-2-2013
20765005@unknown@formal@none@1@S@When the dust and dirt settle in an extra-nasty mayoral race, the man most likely to gain custody of all this is a career politician named David Dinkins.@@@@1@28@@oe@2-2-2013
20765006@unknown@formal@none@1@S@Running the nation's largest and most ornery city may be no treat, but at least Mr. Dinkins knows what to expect from it.@@@@1@23@@oe@2-2-2013
20765007@unknown@formal@none@1@S@As the campaign hits the home stretch, however, voters still have very little idea what they can expect from him.@@@@1@20@@oe@2-2-2013
20765008@unknown@formal@none@1@S@After 25 years in city politics, David Dinkins remains an enigma.@@@@1@11@@oe@2-2-2013
20765009@unknown@formal@none@1@S@The soft-spoken, silver-haired Manhattan borough president -- the first black man to win the Democratic nomination for mayor here -- doesn't have a single prominent political enemy.@@@@1@27@@oe@2-2-2013
20765010@unknown@formal@none@1@S@While he is widely described as a man with deep convictions, he has few major political programs that he can call his own.@@@@1@23@@oe@2-2-2013
20765011@unknown@formal@none@1@S@Asked about his greatest achievement in public life, he first speaks about the quality of his staff.@@@@1@17@@oe@2-2-2013
20765012@unknown@formal@none@1@S@Now, as election day nears, even some supporters wonder what he will do if he wins the mayoralty on Nov. 7.@@@@1@21@@oe@2-2-2013
20765013@unknown@formal@none@1@S@They wonder whether he can be firm with his longtime allies, including union leaders and political cronies who may seek a place at the trough.@@@@1@25@@oe@2-2-2013
20765014@unknown@formal@none@1@S@They wonder whether he has the economic know-how to steer the city through a possible fiscal crisis, and they wonder who will be advising him.@@@@1@25@@oe@2-2-2013
20765015@unknown@formal@none@1@S@Will he, if he wins, be in the thrall of the most liberal of his allies, who advocate such policies as rent control for commercial buildings, or will he tilt toward the real-estate interests that have funneled money into his campaign?@@@@1@41@@oe@2-2-2013
20765016@unknown@formal@none@1@S@After his decisive primary victory over Mayor Edward I. Koch in September, Mr. Dinkins coasted, until recently, on a quite-comfortable lead over his Republican opponent, Rudolph Giuliani, the former crime buster who has proved a something of a bust as a candidate.@@@@1@42@@oe@2-2-2013
20765017@unknown@formal@none@1@S@But Mr. Dinkins has stumbled in the past two weeks over his campaign's payments to a black activist who is a convicted kidnapper, and over his handling of a stock sale to his son.@@@@1@34@@oe@2-2-2013
20765018@unknown@formal@none@1@S@Polls also have recorded some slippage in Mr. Dinkins's support among Jewish voters, and citywide projections now put his lead at between four and 20 percentage points.@@@@1@27@@oe@2-2-2013
20765019@unknown@formal@none@1@S@In an interview with reporters and editors of The Wall Street Journal, Mr. Dinkins appears quite confident of victory and of his ability to handle the mayoralty.@@@@1@27@@oe@2-2-2013
20765020@unknown@formal@none@1@S@"A lot of people think I will give away the store, but I can assure you I will not," he says.@@@@1@21@@oe@2-2-2013
20765021@unknown@formal@none@1@S@"I am aware we have real budgetary problems."@@@@1@8@@oe@2-2-2013
20765022@unknown@formal@none@1@S@The city is full of aging bridges, water mains and roadways that are in need of billions of dollars worth of repair.@@@@1@22@@oe@2-2-2013
20765023@unknown@formal@none@1@S@Renewed efforts to fight drugs and crime will be costly.@@@@1@10@@oe@2-2-2013
20765024@unknown@formal@none@1@S@But city officials say tax revenues are lagging.@@@@1@8@@oe@2-2-2013
20765025@unknown@formal@none@1@S@And after a decade of explosive job growth on Wall Street, a period of contraction is under way.@@@@1@18@@oe@2-2-2013
20765026@unknown@formal@none@1@S@Mr. Koch already has announced he will drop 3,200 jobs from the city payroll, but that won't be enough.@@@@1@19@@oe@2-2-2013
20765027@unknown@formal@none@1@S@New York State Comptroller Edward Regan predicts a $1.3 billion budget gap for the city's next fiscal year, a gap that could grow if there is a recession.@@@@1@28@@oe@2-2-2013
20765028@unknown@formal@none@1@S@If elected, Mr. Dinkins will probably have no choice but to raise taxes on overburdened businesses or cut spending in already under-serviced neighborhoods.@@@@1@23@@oe@2-2-2013
20765029@unknown@formal@none@1@S@"He is going to face a mess," says City Council President Andrew Stein.@@@@1@13@@oe@2-2-2013
20765030@unknown@formal@none@1@S@"His supporters are not venal, but their solution to everything will be to spend more money, and he won't have any money."@@@@1@22@@oe@2-2-2013
20765031@unknown@formal@none@1@S@By and large, Mr. Dinkins has finessed the touchy question of whose ox he would gore.@@@@1@16@@oe@2-2-2013
20765032@unknown@formal@none@1@S@Instead of focusing on the financial future, Mr. Dinkins has sold himself as a unifier for a city recently touched by racial violence and as a soothing antidote to 12 years of commotion generated by Mayor Koch.@@@@1@37@@oe@2-2-2013
20765033@unknown@formal@none@1@S@"The thing about the Dinkins candidacy is that it offers hope to a broad range of people," says Meyer Frucher, a real-estate executive and former aide to Gov. Mario Cuomo.@@@@1@30@@oe@2-2-2013
20765034@unknown@formal@none@1@S@"It is a feel-good candidacy."@@@@1@5@@oe@2-2-2013
20765035@unknown@formal@none@1@S@No doubt, Mr. Dinkins has been a calming influence.@@@@1@9@@oe@2-2-2013
20765036@unknown@formal@none@1@S@He is an avuncular figure who remembers the birthdays of colleagues' children, opens doors for women, and almost never has a bad word to say about anybody.@@@@1@27@@oe@2-2-2013
20765037@unknown@formal@none@1@S@More important, he emerged as a peacemaker last summer after the Central Park rape of a white jogger -- in which a group of Harlem teens was charged -- and the racial murder of a black teen-ager in the white Brooklyn neighborhood of Bensonhurst.@@@@1@44@@oe@2-2-2013
20765038@unknown@formal@none@1@S@Rather than scaring off white voters, as many predicted he would, Mr. Dinkins attracted many whites precisely because of his reputation for having a cool head.@@@@1@26@@oe@2-2-2013
20765039@unknown@formal@none@1@S@(Keeping cool is a Dinkins priority: On humid days this summer, he was known to change his double-breasted suits as many as four times a day.)@@@@1@26@@oe@2-2-2013
20765040@unknown@formal@none@1@S@But even in his front-runner campaign, he has shown signs of the indecisiveness and confusion that some say has plagued his tenure as Manhattan borough president -- and might hinder him as mayor.@@@@1@33@@oe@2-2-2013
20765041@unknown@formal@none@1@S@Over the last few weeks, he has frittered away roughly half of what was once a 33-point lead in the polls over Mr. Giuliani.@@@@1@24@@oe@2-2-2013
20765042@unknown@formal@none@1@S@A story about how he mishandled the sale to his son of his stock in a media company controlled by his political patron Percy Sutton was allowed to fester a full week before Mr. Dinkins faced the media.@@@@1@38@@oe@2-2-2013
20765043@unknown@formal@none@1@S@He has canceled numerous campaign appointments and was largely inaccessible to the media until the stock story broke.@@@@1@18@@oe@2-2-2013
20765044@unknown@formal@none@1@S@His campaign was caught flat-footed amid allegations it paid almost $10,000 for what it said was a "get-out-the-vote" effort by black activist Sonny Carson, a convicted kidnapper who later said publicly that he is "anti-white."@@@@1@35@@oe@2-2-2013
20765045@unknown@formal@none@1@S@Critics have said the payment looked like an attempt by the Dinkins camp to get Mr. Carson to stop leading confrontational demonstrations protesting the Bensonhurst murder -- protests the campaign may have feared could cause some white voters to turn from a black candidate.@@@@1@44@@oe@2-2-2013
20765046@unknown@formal@none@1@S@Mr. Dinkins also has failed to allay Jewish voters' fears about his association with the Rev. Jesse Jackson, despite the fact that few local non-Jewish politicians have been as vocal for Jewish causes in the past 20 years as Mr. Dinkins has.@@@@1@42@@oe@2-2-2013
20765047@unknown@formal@none@1@S@These campaign problems have echoed difficulties Mr. Dinkins has run into before.@@@@1@12@@oe@2-2-2013
20765048@unknown@formal@none@1@S@A former U.S. Marine, Mr. Dinkins got off to a quick start in politics, joining a local Democratic political club in the 1950s, linking up with black urban leaders such as Charles Rangel, Basil Paterson and Mr. Sutton, and getting himself elected to the state assembly in 1965.@@@@1@48@@oe@2-2-2013
20765049@unknown@formal@none@1@S@But his chance to become deputy mayor under Mayor Abraham Beame, a plan boosted by Mr. Sutton, was squandered because of Mr. Dinkins's failure -- still largely unexplained -- to file income tax returns for four years running.@@@@1@38@@oe@2-2-2013
20765050@unknown@formal@none@1@S@"I always thought of this as a thing that could always be done tomorrow," he said at the time.@@@@1@19@@oe@2-2-2013
20765051@unknown@formal@none@1@S@Later, Mr. Dinkins became more deeply indebted to Mr. Sutton and other city pols, including then-City Council President Paul O'Dwyer, when they helped him get appointed city clerk, a largely ceremonial post responsible for the city's marriage bureau, among other things.@@@@1@41@@oe@2-2-2013
20765052@unknown@formal@none@1@S@(Mr. O'Dwyer is now one of the lawyers for Mr. Sutton's media company.)@@@@1@13@@oe@2-2-2013
20765053@unknown@formal@none@1@S@The debt rose further in 1977 when Mr. Sutton resigned his position as Manhattan borough president to run for mayor.@@@@1@20@@oe@2-2-2013
20765054@unknown@formal@none@1@S@Mr. Sutton recalls: "When I left, I sat down with Charlie {Rangel}, Basil {Paterson} and David, and David said, 'Who will run for borough president?' And I said, 'You will.'"@@@@1@30@@oe@2-2-2013
20765055@unknown@formal@none@1@S@David Garth, Mayor Koch's longtime media adviser, says of Mr. Dinkins, "He really is the personification of the patronage system.@@@@1@20@@oe@2-2-2013
20765056@unknown@formal@none@1@S@But the guy is so personally decent, people tend to forget that."@@@@1@12@@oe@2-2-2013
20765057@unknown@formal@none@1@S@Mr. Dinkins lost twice by wide margins before finally getting elected borough president in 1985.@@@@1@15@@oe@2-2-2013
20765058@unknown@formal@none@1@S@But by most accounts, he made little of the post and was best known among city politicians for his problems making up his mind on matters before the city's Board of Estimate, the body that votes on crucial budget and land-use matters.@@@@1@42@@oe@2-2-2013
20765059@unknown@formal@none@1@S@Colleagues today recall with some humor how meetings would crawl into the early morning hours as Mr. Dinkins would march his staff out of board meetings and into his private office to discuss, en masse, certain controversial proposals.@@@@1@38@@oe@2-2-2013
20765060@unknown@formal@none@1@S@"He taught me how to drink herbal tea instead of coffee at 3 a.m., I'll give him that," says Deputy Mayor Robert Esnard.@@@@1@23@@oe@2-2-2013
20765061@unknown@formal@none@1@S@Often, Mr. Dinkins's procrastination prevented him from having a say in the way things turned out, critics claim.@@@@1@18@@oe@2-2-2013
20765062@unknown@formal@none@1@S@On the campaign stump, he often points out that he was the only Board of Estimate member to vote against a controversial real-estate project at Manhattan's Columbus Circle.@@@@1@28@@oe@2-2-2013
20765063@unknown@formal@none@1@S@But board members say he took so long to decide how to vote that by the time he decided, it was too late to try to draw other members to his position.@@@@1@32@@oe@2-2-2013
20765064@unknown@formal@none@1@S@Says one city official: "Everybody else had brought in the wagons and made their deal.@@@@1@15@@oe@2-2-2013
20765065@unknown@formal@none@1@S@He would have got a lot more done if he made up his mind faster."@@@@1@15@@oe@2-2-2013
20765066@unknown@formal@none@1@S@One Board member, Bronx Borough President Ferdinand Ferrer, was said to be so impatient with Mr. Dinkins's behavior at many meetings that he withheld his support for Mr. Dinkins's mayoral effort until late in the primary campaign.@@@@1@37@@oe@2-2-2013
20765067@unknown@formal@none@1@S@"I had some problem from time to time on the length of time he would take to make up his mind," Mr. Ferrer admits, but he maintains that he didn't delay his support of Mr. Dinkins and that he backs the Democratic candidate enthusiastically.@@@@1@44@@oe@2-2-2013
20765068@unknown@formal@none@1@S@Mr. Dinkins's campaign manager and former chief of staff, Bill Lynch, denies that the Manhattan borough president has taken too long to decide important issues.@@@@1@25@@oe@2-2-2013
20765069@unknown@formal@none@1@S@"We didn't rubber-stamp everything that came to us," Mr. Lynch says.@@@@1@11@@oe@2-2-2013
20765070@unknown@formal@none@1@S@On some occasions when Mr. Dinkins has discussed the issues during the campaign, he has run into a familiar kind of trouble.@@@@1@22@@oe@2-2-2013
20765071@unknown@formal@none@1@S@Some supporters were stunned this summer when Mr. Dinkins suggested weakening the law forbidding public employees to go on strike.@@@@1@20@@oe@2-2-2013
20765072@unknown@formal@none@1@S@He withdrew the remark.@@@@1@4@@oe@2-2-2013
20765073@unknown@formal@none@1@S@When he later sided with striking hospital workers, some allies cringed a little more, concerned that Mr. Dinkins was setting the wrong tone for coming contract negotiations with city employees.@@@@1@30@@oe@2-2-2013
20765074@unknown@formal@none@1@S@Then, two days before receiving an endorsement from environmental groups, Mr. Dinkins promised he would issue a three-year moratorium on construction of garbage-incinerator plants.@@@@1@24@@oe@2-2-2013
20765075@unknown@formal@none@1@S@That announcement was roundly criticized by Mayor Koch -- who has endorsed Mr. Dinkins -- because the city faces a garbage crisis and has already spent $5 million planning for an incinerator that would be scrapped under Mr. Dinkins's proposal.@@@@1@40@@oe@2-2-2013
20765076@unknown@formal@none@1@S@While his public statements have at times been confusing, Mr. Dinkins's position papers have more consistently reflected anti-development sentiment.@@@@1@19@@oe@2-2-2013
20765077@unknown@formal@none@1@S@He favors a form of commercial rent control, which the financial community believes would make it more difficult to attract investment in the city.@@@@1@24@@oe@2-2-2013
20765078@unknown@formal@none@1@S@In the midst of a labor shortage, he proposes linking city subsidies to businesses to their record of hiring New York City residents.@@@@1@23@@oe@2-2-2013
20765079@unknown@formal@none@1@S@With an untrained local labor pool, many experts believe, that policy could drive businesses from the city.@@@@1@17@@oe@2-2-2013
20765080@unknown@formal@none@1@S@And he favors a more cooperative approach toward the neighboring states of New Jersey and Connecticut in the battle over companies thinking of moving employees out of New York City.@@@@1@30@@oe@2-2-2013
20765081@unknown@formal@none@1@S@Many economic-development officials say the Koch administration's aggressive approach helped save 5,000 Chase Manhattan Bank jobs from moving across the Hudson.@@@@1@21@@oe@2-2-2013
20765082@unknown@formal@none@1@S@But Mr. Dinkins's economic planks don't seem to bother the business community, where he draws significant support.@@@@1@17@@oe@2-2-2013
20765083@unknown@formal@none@1@S@Steven Spinola, president of the Real Estate Board of New York, an industry organization, says Mr. Dinkins's "economic development program is shortsighted, but when it comes down to it, he can be reasonable."@@@@1@33@@oe@2-2-2013
20765084@unknown@formal@none@1@S@Mr. Dinkins's inner circle of advisers appears to include both ideologues and pragmatists, leaving voters with little clue as to who will be more influential.@@@@1@25@@oe@2-2-2013
20765085@unknown@formal@none@1@S@The key man seems to be the campaign manager, Mr. Lynch.@@@@1@11@@oe@2-2-2013
20765086@unknown@formal@none@1@S@A disheveled, roly-poly son of a Long Island potato farmer, Mr. Lynch is a veteran union organizer who worked on the presidential campaigns of Sen. Edward Kennedy and Mr. Jackson.@@@@1@30@@oe@2-2-2013
20765087@unknown@formal@none@1@S@But as the Dinkins campaign hit tough times this month, Andrew Cuomo, the politically seasoned son of the New York governor, is also said to have taken a more active role on strategy.@@@@1@33@@oe@2-2-2013
20765088@unknown@formal@none@1@S@Another close ally is Ruth Messinger, a Manhattan city councilwoman, some of whose programs, such as commercial rent control, have made their way into Mr. Dinkins's position papers.@@@@1@28@@oe@2-2-2013
20765089@unknown@formal@none@1@S@If she remains influential with Mr. Dinkins, as some suggest she will, his mayoralty may take on a more anti-development flavor.@@@@1@21@@oe@2-2-2013
20765090@unknown@formal@none@1@S@But Lincoln Center President Nathan Leventhal, who would head a Dinkins transition team, is more mainstream, as is real-estate executive Anthony Gliedman, another insider.@@@@1@24@@oe@2-2-2013
20765091@unknown@formal@none@1@S@Mr. Dinkins also has said he would receive economic advice from a board that would include American Express Co. chairman James D. Robinson III, investment banker Felix Rohatyn, leveraged-buy-out specialist Reginald Lewis and attorney Joseph Flom.@@@@1@36@@oe@2-2-2013
20765092@unknown@formal@none@1@S@Some business leaders and others also believe that Mr. Dinkins would place significant responsibility in the hands of a deputy mayor with a strong administrative background.@@@@1@26@@oe@2-2-2013
20765093@unknown@formal@none@1@S@Names of possible deputies that have surfaced include former mayoral candidate Richard Ravitch, former schools chancellor Frank Macchiarola and Messrs. Leventhal and Gliedman.@@@@1@23@@oe@2-2-2013
20765094@unknown@formal@none@1@S@Then there are Mr. Dinkins's old-time Harlem colleagues, such as U.S. Rep. Rangel, former Deputy Mayor Paterson and Mr. Sutton.@@@@1@20@@oe@2-2-2013
20765095@unknown@formal@none@1@S@Having attained positions of real influence or wealth, these men constitute the Old Guard of New York City black politics; they are less confrontational than the younger, more activist black political community that has been based largely in Brooklyn.@@@@1@39@@oe@2-2-2013
20765096@unknown@formal@none@1@S@(Part of Mr. Dinkins's strength is his ability to win the support of both the Brooklyn and Harlem factions.)@@@@1@19@@oe@2-2-2013
20765097@unknown@formal@none@1@S@"We know there are potholes for the city out there," says Mr. Paterson, Mr. Dinkins's former law partner.@@@@1@18@@oe@2-2-2013
20765098@unknown@formal@none@1@S@"If any of us think we're going to sidetrack David's determination to be the best possible mayor because of his obligations to us, we are making a sad mistake."@@@@1@29@@oe@2-2-2013
20765099@unknown@formal@none@1@S@Adds Ms. Messinger, who is expected to win the borough president's job Mr. Dinkins is vacating, "You have to remember David is a pragmatist."@@@@1@24@@oe@2-2-2013
20765100@unknown@formal@none@1@S@But Mr. Dinkins's sense of pragmatism often comes across more as an insider's determination not to upset the political apple cart.@@@@1@21@@oe@2-2-2013
20765101@unknown@formal@none@1@S@He is taken aback in an interview when asked whether, as mayor, he plans on reforming the political "fiefdoms" that perpetuate the monumental ineffectiveness of New York's school system.@@@@1@29@@oe@2-2-2013
20765102@unknown@formal@none@1@S@"I will sit down and talk some of the problems out, but take on the political system? Uh-uh," he says with a shake of the head.@@@@1@26@@oe@2-2-2013
20765103@unknown@formal@none@1@S@Despite many doubts about his candidacy, white New Yorkers -- who gave Mr. Dinkins 30% of their votes in the primary -- aren't expected to desert in sufficient numbers to turn the election to Mr. Giuliani.@@@@1@36@@oe@2-2-2013
20765104@unknown@formal@none@1@S@The former U.S. attorney, who prosecuted targets ranging from Mafia dons to Wall Street executives, has succeeded in raising questions about Mr. Dinkins's ethical standards, but so far has failed to generate excitement about his own candidacy.@@@@1@37@@oe@2-2-2013
20765105@unknown@formal@none@1@S@As a Republican in an overwhelmingly Democratic city, Mr. Giuliani has an inherent handicap.@@@@1@14@@oe@2-2-2013
20765106@unknown@formal@none@1@S@As a first-time candidate, he has been slow to learn the nuances of New York City politicking.@@@@1@17@@oe@2-2-2013
20765107@unknown@formal@none@1@S@Mr. Giuliani is finding that Mr. Dinkins, in his many years in public life, has built up considerable good will that so far has led many voters to overlook certain failings.@@@@1@31@@oe@2-2-2013
20765108@unknown@formal@none@1@S@"The bottom line is that he is a very genuine and decent guy," says Malcolm Hoenlein, a Jewish community leader.@@@@1@20@@oe@2-2-2013
20765109@unknown@formal@none@1@S@"In the end, I think David will be judged for being David.@@@@1@12@@oe@2-2-2013
20766001@unknown@formal@none@1@S@Toni Johnson pulls a tape measure across the front of what was once a stately Victorian home.@@@@1@17@@oe@2-2-2013
20766002@unknown@formal@none@1@S@A deep trench now runs along its north wall, exposed when the house lurched two feet off its foundation during last week's earthquake.@@@@1@23@@oe@2-2-2013
20766003@unknown@formal@none@1@S@A side porch was ripped away.@@@@1@6@@oe@2-2-2013
20766004@unknown@formal@none@1@S@The chimney is a pile of bricks on the front lawn.@@@@1@11@@oe@2-2-2013
20766005@unknown@formal@none@1@S@The remainder of the house leans precariously against a sturdy oak tree.@@@@1@12@@oe@2-2-2013
20766006@unknown@formal@none@1@S@The petite, 29-year-old Ms. Johnson, dressed in jeans and a sweatshirt as she slogs through the steady afternoon rain, is a claims adjuster with Aetna Life & Casualty.@@@@1@28@@oe@2-2-2013
20766007@unknown@formal@none@1@S@She has been on the move almost incessantly since last Thursday, when an army of adjusters, employed by major insurers, invaded the San Francisco area to help policyholders sift through the rubble and restore some order to their lives.@@@@1@39@@oe@2-2-2013
20766008@unknown@formal@none@1@S@Equipped with cellular telephones, laptop computers, calculators and a pack of blank checks, they parcel out money so their clients can find temporary living quarters, buy food, replace lost clothing, repair broken water heaters, and replaster walls.@@@@1@37@@oe@2-2-2013
20766009@unknown@formal@none@1@S@Some of the funds will used to demolish unstable buildings and clear sites for future construction.@@@@1@16@@oe@2-2-2013
20766010@unknown@formal@none@1@S@Many adjusters are authorized to write checks for amounts up to $100,000 on the spot.@@@@1@15@@oe@2-2-2013
20766011@unknown@formal@none@1@S@They don't flinch at writing them.@@@@1@6@@oe@2-2-2013
20766012@unknown@formal@none@1@S@"That's my job -- get {policyholders} what they're entitled to," says Bill Schaeffer, a claims supervisor who flew in from Aetna's Bridgeport, Conn., office.@@@@1@24@@oe@2-2-2013
20766013@unknown@formal@none@1@S@The Victorian house that Ms. Johnson is inspecting has been deemed unsafe by town officials.@@@@1@15@@oe@2-2-2013
20766014@unknown@formal@none@1@S@But she asks a workman toting the bricks from the lawn to give her a boost through an open first-floor window.@@@@1@21@@oe@2-2-2013
20766015@unknown@formal@none@1@S@Once inside, she spends nearly four hours measuring and diagramming each room in the 80-year-old house, gathering enough information to estimate what it would cost to rebuild it.@@@@1@28@@oe@2-2-2013
20766016@unknown@formal@none@1@S@She snaps photos of the buckled floors and the plaster that has fallen away from the walls.@@@@1@17@@oe@2-2-2013
20766017@unknown@formal@none@1@S@While she works inside, a tenant returns with several friends to collect furniture and clothing.@@@@1@15@@oe@2-2-2013
20766018@unknown@formal@none@1@S@One of the friends sweeps broken dishes and shattered glass from a countertop and starts to pack what can be salvaged from the kitchen.@@@@1@24@@oe@2-2-2013
20766019@unknown@formal@none@1@S@Others grab books, records, photo albums, sofas and chairs, working frantically in the fear that an aftershock will jolt the house again.@@@@1@22@@oe@2-2-2013
20766020@unknown@formal@none@1@S@The owners, William and Margie Hammack, are luckier than many others.@@@@1@11@@oe@2-2-2013
20766021@unknown@formal@none@1@S@A few years ago, Mrs. Hammack insisted on buying earthquake insurance for this house, which had been converted into apartments.@@@@1@20@@oe@2-2-2013
20766022@unknown@formal@none@1@S@Only about 20% of California home and business owners carried earthquake coverage.@@@@1@12@@oe@2-2-2013
20766023@unknown@formal@none@1@S@The Hammacks' own home, also in Los Gatos, suffered comparatively minor damage.@@@@1@12@@oe@2-2-2013
20766024@unknown@formal@none@1@S@Ms. Johnson, who works out of Aetna's office in Walnut Creek, an East Bay suburb, is awed by the earthquake's destructive force.@@@@1@22@@oe@2-2-2013
20766025@unknown@formal@none@1@S@"It really brings you down to a human level," she says.@@@@1@11@@oe@2-2-2013
20766026@unknown@formal@none@1@S@"It's hard to accept all the suffering people are going through, but you have to.@@@@1@15@@oe@2-2-2013
20766027@unknown@formal@none@1@S@If you don't, you can't do your job."@@@@1@8@@oe@2-2-2013
20766028@unknown@formal@none@1@S@For Aetna and other insurers, the San Francisco earthquake hit when resources in the field already were stretched.@@@@1@18@@oe@2-2-2013
20766029@unknown@formal@none@1@S@Most companies still are trying to sort through the wreckage caused by Hurricane Hugo in the Carolinas last month.@@@@1@19@@oe@2-2-2013
20766030@unknown@formal@none@1@S@Aetna, which has nearly 3,000 adjusters, had deployed about 750 of them in Charlotte, Columbia, and Charleston.@@@@1@17@@oe@2-2-2013
20766031@unknown@formal@none@1@S@Adjusters who had been working on the East Coast say the insurer will still be processing claims from that storm through December.@@@@1@22@@oe@2-2-2013
20766032@unknown@formal@none@1@S@It could take six to nine months to handle the earthquake-related claims.@@@@1@12@@oe@2-2-2013
20766033@unknown@formal@none@1@S@When the earthquake rocked northern California last week, Aetna senior claims executives from the San Francisco area were at the company's Hartford, Conn., headquarters for additional training on how to handle major catastrophes, including earthquakes.@@@@1@35@@oe@2-2-2013
20766034@unknown@formal@none@1@S@Since commercial airline flights were disrupted, the company chartered three planes to fly these executives back to the West Coast and bring along portable computers, cellular phones and some claims adjusters.@@@@1@31@@oe@2-2-2013
20766035@unknown@formal@none@1@S@Because of the difficulty of assessing the damages caused by the earthquake, Aetna pulled together a team of its most experienced claims adjusters from around the country.@@@@1@27@@oe@2-2-2013
20766036@unknown@formal@none@1@S@Even so, few had ever dealt with an earthquake.@@@@1@9@@oe@2-2-2013
20766037@unknown@formal@none@1@S@Some adjusters, like Alan Singer of San Diego, had been working in Charleston for nearly four weeks.@@@@1@17@@oe@2-2-2013
20766038@unknown@formal@none@1@S@He returned home last Thursday, packed a bag with fresh clothes and reported for duty Friday in Walnut Creek.@@@@1@19@@oe@2-2-2013
20766039@unknown@formal@none@1@S@Offices were set up in San Francisco and San Jose.@@@@1@10@@oe@2-2-2013
20766040@unknown@formal@none@1@S@In a few instances, Aetna knew it would probably be shelling out big bucks, even before a client called or faxed in a claim.@@@@1@24@@oe@2-2-2013
20766041@unknown@formal@none@1@S@For example, officials at Walnut Creek office learned that the Amfac Hotel near the San Francisco airport, which is insured by Aetna, was badly damaged when they saw it on network television news.@@@@1@33@@oe@2-2-2013
20766042@unknown@formal@none@1@S@"The secret to being a good adjuster is counting," says Gerardo Rodriguez, an Aetna adjuster from Santa Ana.@@@@1@18@@oe@2-2-2013
20766043@unknown@formal@none@1@S@"You have to count everything."@@@@1@5@@oe@2-2-2013
20766044@unknown@formal@none@1@S@Adjusters must count the number of bathrooms, balconies, fireplaces, chimneys, microwaves and dishwashers.@@@@1@13@@oe@2-2-2013
20766045@unknown@formal@none@1@S@But they must also assign a price to each of these items as well as to floors, wallcoverings, roofing and siding, to come up with a total value for a house.@@@@1@31@@oe@2-2-2013
20766046@unknown@formal@none@1@S@To do that, they must think in terms of sheetrock by the square foot, carpeting by the square yard, wallpaper by the roll, molding by the linear foot.@@@@1@28@@oe@2-2-2013
20766047@unknown@formal@none@1@S@Using a calculator and a unit-price guide for such jobs as painting, plumbing and roofing in each major region of the country, adjusters can figure out the value of a home in today's market and what it would cost to rebuild it.@@@@1@42@@oe@2-2-2013
20766048@unknown@formal@none@1@S@Sometimes repairs are out of the question.@@@@1@7@@oe@2-2-2013
20766049@unknown@formal@none@1@S@When Aetna adjuster Bill Schaeffer visited a retired couple in Oakland last Thursday, he found them living in a mobile home parked in front of their yard.@@@@1@27@@oe@2-2-2013
20766050@unknown@formal@none@1@S@The house itself, located about 50 yards from the collapsed section of double-decker highway Interstate 880, was pushed about four feet off its foundation and then collapsed into its basement.@@@@1@30@@oe@2-2-2013
20766051@unknown@formal@none@1@S@The next day, Mr. Schaeffer presented the couple with a check for $151,000 to help them build a new home in the same neighborhood.@@@@1@24@@oe@2-2-2013
20766052@unknown@formal@none@1@S@He also is working with a real-estate agent to help find them an apartment to rent while their home is being built.@@@@1@22@@oe@2-2-2013
20766053@unknown@formal@none@1@S@Many of the adjusters employed by Aetna and other insurers have some experience with construction work or carpentry.@@@@1@18@@oe@2-2-2013
20766054@unknown@formal@none@1@S@But such skills were alien to Toni Johnson.@@@@1@8@@oe@2-2-2013
20766055@unknown@formal@none@1@S@Four years ago, she was managing a film-processing shop and was totally bored.@@@@1@13@@oe@2-2-2013
20766056@unknown@formal@none@1@S@A friend mentioned that she might want to look into a position at Aetna, if she was interested in a job that would constantly challenge her.@@@@1@26@@oe@2-2-2013
20766057@unknown@formal@none@1@S@She signed up, starting as an "inside" adjuster, who settles minor claims and does a lot of work by phone.@@@@1@20@@oe@2-2-2013
20766058@unknown@formal@none@1@S@A year later, she moved to the commercial property claims division.@@@@1@11@@oe@2-2-2013
20766059@unknown@formal@none@1@S@She spent a month at an Aetna school in Gettysburg, Pa., learning all about the construction trade, including masonry, plumbing and electrical wiring.@@@@1@23@@oe@2-2-2013
20766060@unknown@formal@none@1@S@That was followed by three months at the Aetna Institute in Hartford, where she was immersed in learning how to read and interpret policies.@@@@1@24@@oe@2-2-2013
20766061@unknown@formal@none@1@S@Her new line of work has some perils.@@@@1@8@@oe@2-2-2013
20766062@unknown@formal@none@1@S@Recently, a contractor saved her from falling three stories as she investigated what remained of an old Victorian house torched by an arsonist.@@@@1@23@@oe@2-2-2013
20766063@unknown@formal@none@1@S@"I owe that contractor.@@@@1@4@@oe@2-2-2013
20766064@unknown@formal@none@1@S@I really do," she says.@@@@1@5@@oe@2-2-2013
20766065@unknown@formal@none@1@S@As Ms. Johnson stands outside the Hammack house after winding up her chores there, the house begins to creak and sway.@@@@1@21@@oe@2-2-2013
20766066@unknown@formal@none@1@S@The ground shakes underneath her.@@@@1@5@@oe@2-2-2013
20766067@unknown@formal@none@1@S@It is an aftershock, one of about 2,000 since the earthquake, and it makes her uneasy.@@@@1@16@@oe@2-2-2013
20766068@unknown@formal@none@1@S@The next day, as she prepares a $10,000 check for the Hammacks, which will cover the cost of demolishing the house and clearing away the debris, she jumps at the slightest noise.@@@@1@32@@oe@2-2-2013
20766069@unknown@formal@none@1@S@On further reflection, she admits that venturing inside the Hammacks' house the previous day wasn't "such a great idea."@@@@1@19@@oe@2-2-2013
20766070@unknown@formal@none@1@S@During her second meeting with the Hammacks, Ms. Johnson reviews exactly what their policy covers.@@@@1@15@@oe@2-2-2013
20766071@unknown@formal@none@1@S@They would like to retrieve some appliances on the second floor, but wonder if it's safe to venture inside.@@@@1@19@@oe@2-2-2013
20766072@unknown@formal@none@1@S@Ms. Johnson tells them that, if the appliances can't be salvaged, their policy covers the replacement cost.@@@@1@17@@oe@2-2-2013
20766073@unknown@formal@none@1@S@Mr. Hammack is eager to know what Aetna will pay for the house, which has to come down.@@@@1@18@@oe@2-2-2013
20766074@unknown@formal@none@1@S@"When will I get that check for a million dollars?" he jokes.@@@@1@12@@oe@2-2-2013
20766075@unknown@formal@none@1@S@The adjuster hadn't completed all the calculations, but says: "We're talking policy limits."@@@@1@13@@oe@2-2-2013
20766076@unknown@formal@none@1@S@In this case, that's about $250,000.@@@@1@6@@oe@2-2-2013
20766077@unknown@formal@none@1@S@It suddenly dawns on Mr. Hammack that rebuilding the house in Los Gatos, an affluent community in Santa Clara County, may cost more than Aetna's policy will pay.@@@@1@28@@oe@2-2-2013
20766078@unknown@formal@none@1@S@"We can lose money on this," he says.@@@@1@8@@oe@2-2-2013
20766079@unknown@formal@none@1@S@"And you didn't want me to buy earthquake insurance," says Mrs. Hammack, reaching across the table and gently tapping his hand.@@@@1@21@@oe@2-2-2013
20766080@unknown@formal@none@1@S@Earthquake insurance costs about $2 to $4 annually for every $1,000 of value, and high deductibles mean it generally pays only when there is a catastrophe.@@@@1@26@@oe@2-2-2013
20766081@unknown@formal@none@1@S@So, many Californians believe they can get by without it.@@@@1@10@@oe@2-2-2013
20766082@unknown@formal@none@1@S@Even Ms. Johnson herself made that assumption.@@@@1@7@@oe@2-2-2013
20766083@unknown@formal@none@1@S@"I always knew that the 'Big One' was coming, but not during my lifetime," she says.@@@@1@16@@oe@2-2-2013
20766084@unknown@formal@none@1@S@Now she says she's thinking of contacting her own insurance agent.@@@@1@11@@oe@2-2-2013
20766085@unknown@formal@none@1@S@For Ms. Johnson, dealing with the earthquake has been more than just a work experience.@@@@1@15@@oe@2-2-2013
20766086@unknown@formal@none@1@S@She lives in Oakland, a community hit hard by the earthquake.@@@@1@11@@oe@2-2-2013
20766087@unknown@formal@none@1@S@She didn't have hot water for five days.@@@@1@8@@oe@2-2-2013
20766088@unknown@formal@none@1@S@The apartment she shares with a 12-year-old daughter and her sister was rattled, books and crystal hit the floor, but nothing was severely damaged.@@@@1@24@@oe@2-2-2013
20766089@unknown@formal@none@1@S@Her sister, Cynthia, wishes Toni had a different job.@@@@1@9@@oe@2-2-2013
20766090@unknown@formal@none@1@S@"We worry about her out there," Cynthia says.@@@@1@8@@oe@2-2-2013
20766091@unknown@formal@none@1@S@Last Sunday, Ms. Johnson finally got a chance to water her plants, but stopped abruptly.@@@@1@15@@oe@2-2-2013
20766092@unknown@formal@none@1@S@"I realized I couldn't waste this water when there are people in Watsonville who don't have fresh water to drink."@@@@1@20@@oe@2-2-2013
20766093@unknown@formal@none@1@S@She hasn't played any music since the earthquake hit, out of respect for those who died on Interstate 880 where the roadway collapsed.@@@@1@23@@oe@2-2-2013
20767001@unknown@formal@none@1@S@The Federal Communications Commission allowed American Telephone & Telegraph Co. to continue offering discount phone services for large-business customers and said it would soon re-examine its regulation of the long-distance market.@@@@1@31@@oe@2-2-2013
20767002@unknown@formal@none@1@S@The FCC moves were good news for AT&T, which has been striving since the breakup of the phone system for greater latitude in pricing and reduced regulation.@@@@1@27@@oe@2-2-2013
20767003@unknown@formal@none@1@S@Alfred Sikes, the new FCC chairman, championed deregulation of AT&T at his last job as head of a Commerce Department telecommunications agency.@@@@1@22@@oe@2-2-2013
20767004@unknown@formal@none@1@S@But it has been an open question whether Mr. Sikes, an extraordinarily cautious man, would continue pushing deregulation at the FCC in the face of what is likely to be great political pressure.@@@@1@33@@oe@2-2-2013
20767005@unknown@formal@none@1@S@"It means that Sikes is serious about the deregulation of long distance," said Jack Grubman, a telecommunications analyst at PaineWebber Inc., who attended the FCC meeting.@@@@1@26@@oe@2-2-2013
20767006@unknown@formal@none@1@S@"All the commissioners were in amazing agreement {to re-examine regulation} for only having been together for a few months."@@@@1@19@@oe@2-2-2013
20767007@unknown@formal@none@1@S@The FCC took three specific actions regarding AT&T.@@@@1@8@@oe@2-2-2013
20767008@unknown@formal@none@1@S@By a 4-0 vote, it allowed AT&T to continue offering special discount packages to big customers, called Tariff 12, rejecting appeals by AT&T competitors that the discounts were illegal.@@@@1@29@@oe@2-2-2013
20767009@unknown@formal@none@1@S@Then by a separate 4-0 vote, it chose the narrowest possible grounds to strike down a different discount plan, called Tariff 15, that AT&T offered to Holiday Corp.@@@@1@28@@oe@2-2-2013
20767010@unknown@formal@none@1@S@AT&T gave a 5% to 10% discount to the Memphis, Tenn., company that oversees Holiday Inns, in response to a similar discount offered to Holiday Corp. by MCI Communications Corp.@@@@1@30@@oe@2-2-2013
20767011@unknown@formal@none@1@S@The agency said that because MCI's offer had expired AT&T couldn't continue to offer its discount plan.@@@@1@17@@oe@2-2-2013
20767012@unknown@formal@none@1@S@But the agency specifically didn't rule whether AT&T had the right to match offers by competitors if that means giving discounts not generally available to other phone users.@@@@1@28@@oe@2-2-2013
20767013@unknown@formal@none@1@S@Indeed, Joe Nacchio, AT&T's vice president for business-communications services, said AT&T offered a similar Tariff 15 discount to Resort Condominium International, of Indianapolis, to meet another MCI bid.@@@@1@28@@oe@2-2-2013
20767014@unknown@formal@none@1@S@The FCC "didn't say I couldn't do it again," he said.@@@@1@11@@oe@2-2-2013
20767015@unknown@formal@none@1@S@Apart from those two actions, Mr. Sikes and the three other commissioners said they expect to re-examine how AT&T is regulated since competition has increased.@@@@1@25@@oe@2-2-2013
20767016@unknown@formal@none@1@S@Richard Firestone, chief of the FCC's common-carrier bureau, said he expected the agency to propose new rules next year.@@@@1@19@@oe@2-2-2013
20767017@unknown@formal@none@1@S@AT&T applauded the FCC's actions.@@@@1@5@@oe@2-2-2013
20767018@unknown@formal@none@1@S@"The time is long overdue to take a look at the fierce competition in the long-distance business and the rules governing it," the New York telecommunications firm said in a statement.@@@@1@31@@oe@2-2-2013
20767019@unknown@formal@none@1@S@But MCI, of Washington, was displeased with the FCC decision concerning Tariff 12, arguing that "AT&T cannot be allowed to flaunt FCC rules."@@@@1@23@@oe@2-2-2013
20767020@unknown@formal@none@1@S@United Telecommunications Inc.'s US Sprint unit said it was "obviously disappointed" with the FCC decision on Tariff 12.@@@@1@18@@oe@2-2-2013
20767021@unknown@formal@none@1@S@US Sprint said was it will petition the FCC decision in federal court.@@@@1@13@@oe@2-2-2013
20767022@unknown@formal@none@1@S@"We believe that the court will find it unlawful," said a US Sprint spokesman.@@@@1@14@@oe@2-2-2013
20767023@unknown@formal@none@1@S@Separately, AT&T filed a countersuit against MCI accusing it of misleading consumers through allegedly "false and deceptive" advertising.@@@@1@18@@oe@2-2-2013
20767024@unknown@formal@none@1@S@The AT&T action was the most recent blow in a nasty fight.@@@@1@12@@oe@2-2-2013
20767025@unknown@formal@none@1@S@Earlier this month, MCI sued AT&T in federal district court, claiming that AT&T's ads are false.@@@@1@16@@oe@2-2-2013
20767026@unknown@formal@none@1@S@AT&T assembled three of its top executives in Washington, all visibly angry, to try to refute MCI's charges.@@@@1@18@@oe@2-2-2013
20767027@unknown@formal@none@1@S@"MCI has made hawks out of the upper echelon of AT&T," said PaineWebber's Mr. Grubman, who said he expected AT&T to become increasingly aggressive in dealing with its longtime nemesis.@@@@1@30@@oe@2-2-2013
20767028@unknown@formal@none@1@S@Julie Amparano Lopez in Philadelphia also contributed to this article.@@@@1@10@@oe@2-2-2013
20768001@unknown@formal@none@1@S@Billions of investors' dollars are pouring out of the nation's junk-bond mutual funds, undermining a pillar of support in the already reeling junk market.@@@@1@24@@oe@2-2-2013
20768002@unknown@formal@none@1@S@Last week alone, an eye-popping $1.6 billion flowed out of the junk funds, or nearly 5% of their total assets, according to estimates by Dalbar Financial Services Inc., a Boston research firm.@@@@1@32@@oe@2-2-2013
20768003@unknown@formal@none@1@S@In the past two months the nation's 88 junk funds have lost a total of about $6 billion -- more than 15% of assets -- through sales or transfers of junk-fund shares, Dalbar says.@@@@1@34@@oe@2-2-2013
20768004@unknown@formal@none@1@S@It made the estimates based on data collected from more than a dozen big junk funds.@@@@1@16@@oe@2-2-2013
20768005@unknown@formal@none@1@S@Interviews with three major fund groups -- Fidelity Investments, Vanguard Group Inc. and T. Rowe Price Associates Inc. -- confirm the trend.@@@@1@22@@oe@2-2-2013
20768006@unknown@formal@none@1@S@Their junk funds combined have had net outflows totaling nearly $500 million, or about 13% of their junk fund assets, in the past two months.@@@@1@25@@oe@2-2-2013
20768007@unknown@formal@none@1@S@Some fund managers say negative publicity has exacerbated investors' concern about recent declines in junk-bond prices.@@@@1@16@@oe@2-2-2013
20768008@unknown@formal@none@1@S@"People have been seeing headline after headline after headline and saying: `I can't take it anymore -- I'm getting out,'" says Kurt Brouwer of Brouwer & Janachowski, a San Francisco investment adviser.@@@@1@32@@oe@2-2-2013
20768009@unknown@formal@none@1@S@The withdrawals could spell trouble for the $200 billion junk market.@@@@1@11@@oe@2-2-2013
20768010@unknown@formal@none@1@S@If the heavy outflows continue, fund managers will face increasing pressure to sell off some of their junk to pay departing investors in the weeks ahead.@@@@1@26@@oe@2-2-2013
20768011@unknown@formal@none@1@S@Such selling could erode prices of high-yield junk bonds, already weakened by a rash of corporate credit problems.@@@@1@18@@oe@2-2-2013
20768012@unknown@formal@none@1@S@Mutual fund groups haven't lost control of much of the outgoing money, says Louis Harvey, Dalbar's president.@@@@1@17@@oe@2-2-2013
20768013@unknown@formal@none@1@S@Mutual fund officials say that investors have transferred most of it into their money market accounts, and to a lesser extent, government-bond funds.@@@@1@23@@oe@2-2-2013
20768014@unknown@formal@none@1@S@So the impact on the $950 billion mutual fund industry as a whole probably will be slight.@@@@1@17@@oe@2-2-2013
20768015@unknown@formal@none@1@S@But tremors are likely in the junk-bond market, which has helped to finance the takeover boom of recent years.@@@@1@19@@oe@2-2-2013
20768016@unknown@formal@none@1@S@Mutual funds are the among the largest holders of junk, accounting for more than a quarter of the entire high-yield, high-risk market.@@@@1@22@@oe@2-2-2013
20768017@unknown@formal@none@1@S@The 88 mutual funds investing solely in junk bonds hold assets of about $32 billion.@@@@1@15@@oe@2-2-2013
20768018@unknown@formal@none@1@S@Other funds hold a smattering of junk bonds, too.@@@@1@9@@oe@2-2-2013
20768019@unknown@formal@none@1@S@The $1.5 billion Fidelity High Income Fund has had a net outflow of about $150 million in the past two months.@@@@1@21@@oe@2-2-2013
20768020@unknown@formal@none@1@S@About $60 million streamed out last week alone, double the level of the week following last month's Campeau Corp. credit squeeze.@@@@1@21@@oe@2-2-2013
20768021@unknown@formal@none@1@S@About 98% of the outflow was transferred to other Fidelity funds, says Neal Litvack, a Fidelity vice president, marketing, with most going into money market funds.@@@@1@26@@oe@2-2-2013
20768022@unknown@formal@none@1@S@"You get a news item, it hits, you have strong redemptions that day and for two days following -- then go back to normal," says Mr. Litvack.@@@@1@27@@oe@2-2-2013
20768023@unknown@formal@none@1@S@The fund, with a cash cushion of more than 10%, has "met all the redemptions without having to sell one thing," Mr. Litvack says.@@@@1@24@@oe@2-2-2013
20768024@unknown@formal@none@1@S@He adds: "Our fund has had {positive} net sales every month for the last three years -- until this month."@@@@1@20@@oe@2-2-2013
20768025@unknown@formal@none@1@S@Vanguard's $1 billion High Yield Bond Portfolio has seen $161 million flow out since early September; $14 million of that seeped out Friday Oct. 13 alone.@@@@1@26@@oe@2-2-2013
20768026@unknown@formal@none@1@S@Still, two-thirds of the outflow has been steered into other Vanguard portfolios, says Brian Mattes, a vice president.@@@@1@18@@oe@2-2-2013
20768027@unknown@formal@none@1@S@The fund now holds a cash position of about 15%.@@@@1@10@@oe@2-2-2013
20768028@unknown@formal@none@1@S@At the $932 million T. Rowe Price High Yield Fund, investors yanked out about $182 million in the past two months.@@@@1@21@@oe@2-2-2013
20768029@unknown@formal@none@1@S@Those withdrawals, most of which were transferred to other T. Rowe Price funds, followed little change in the fund's sales picture this year through August.@@@@1@25@@oe@2-2-2013
20768030@unknown@formal@none@1@S@"The last two months have been the whole ball game," says Steven Norwitz, a vice president.@@@@1@16@@oe@2-2-2013
20768031@unknown@formal@none@1@S@Junk-fund holders have barely broken even this year, as fat interest payments barely managed to offset declining prices.@@@@1@18@@oe@2-2-2013
20768032@unknown@formal@none@1@S@Through Oct. 19, high-yield funds had an average 0.85% total return (the price change plus dividends on fund shares), according to Lipper Analytical Services Inc.@@@@1@25@@oe@2-2-2013
20768033@unknown@formal@none@1@S@That's even less than the 4.35% total return of the Merrill Lynch High-Yield Index.@@@@1@14@@oe@2-2-2013
20768034@unknown@formal@none@1@S@Fidelity's junk fund has fallen 2.08% this year through Oct. 19, Lipper says; the Vanguard fund rose 1.84%; and the T. Rowe Price fund edged up 0.66%.@@@@1@27@@oe@2-2-2013
20768035@unknown@formal@none@1@S@People who remain in junk funds now could get hit again, some analysts and fund specialists say.@@@@1@17@@oe@2-2-2013
20768036@unknown@formal@none@1@S@Many funds in recent weeks and months have been selling their highest-quality junk issues, such as RJR Nabisco, to raise cash to meet expected redemptions.@@@@1@25@@oe@2-2-2013
20768037@unknown@formal@none@1@S@Funds might be forced to accept lower prices if they expand their selling to the securities of less-creditworthy borrowers.@@@@1@19@@oe@2-2-2013
20768038@unknown@formal@none@1@S@And then, asset values of the funds could plunge more than they have so far.@@@@1@15@@oe@2-2-2013
20768039@unknown@formal@none@1@S@Says Michael Hirsch, chief investment officer of Republic National Bank and manager of the FundTrust Group in New York: "It's a time bomb just waiting to go off.@@@@1@28@@oe@2-2-2013
20769001@unknown@formal@none@1@S@The surprise resignation yesterday of British Chancellor of the Exchequer Nigel Lawson sent sterling into a tailspin against the dollar by creating uncertainties about the direction of the British economy.@@@@1@30@@oe@2-2-2013
20769002@unknown@formal@none@1@S@The U.S. unit also firmed against other currencies on the back of sterling's tumble, as market participants switched out of pounds.@@@@1@21@@oe@2-2-2013
20769003@unknown@formal@none@1@S@The pound also dropped precipitously against the mark, falling below the key 2.90-mark level to 2.8956 marks from 2.9622 marks late Wednesday.@@@@1@22@@oe@2-2-2013
20769004@unknown@formal@none@1@S@Mr. Lawson's resignation shocked many analysts, despite the recent recurring speculation of a rift between the chancellor and Prime Minister Margaret Thatcher.@@@@1@22@@oe@2-2-2013
20769005@unknown@formal@none@1@S@Indeed, only hours earlier, Mrs. Thatcher had called Mr. Lawson's economic policies "sound" and said she has "always supported" him.@@@@1@20@@oe@2-2-2013
20769006@unknown@formal@none@1@S@"There was a general feeling that we'd seen the worst," said Patrick Foley, deputy chief economic adviser for Lloyds Bank in London.@@@@1@22@@oe@2-2-2013
20769007@unknown@formal@none@1@S@"The resignation came as a great surprise."@@@@1@7@@oe@2-2-2013
20769008@unknown@formal@none@1@S@Graham Beale, manager of foreign-exchange operations at Hong Kong & Shanghai Banking Corp. in New York, added that Mrs. Thatcher's comments reinforced the market's growing confidence about sterling and compounded the unit's later decline.@@@@1@34@@oe@2-2-2013
20769009@unknown@formal@none@1@S@"The market was caught totally the wrong way. . . .@@@@1@11@@oe@2-2-2013
20769010@unknown@formal@none@1@S@Everyone was extremely long on sterling," Mr. Beale said.@@@@1@9@@oe@2-2-2013
20769011@unknown@formal@none@1@S@In late New York trading yesterday, the dollar was quoted at 1.8400 marks, up from 1.8353 marks late Wednesday, and at 142.10 yen, up from 141.52 yen late Wednesday.@@@@1@29@@oe@2-2-2013
20769012@unknown@formal@none@1@S@Sterling was quoted at $1.5765, sharply down from $1.6145 late Wednesday.@@@@1@11@@oe@2-2-2013
20769013@unknown@formal@none@1@S@In Tokyo Friday, the U.S. currency opened for trading at 142.02 yen, up from Thursday's Tokyo close of 141.90 yen.@@@@1@20@@oe@2-2-2013
20769014@unknown@formal@none@1@S@Few analysts had much good to say about the pound's near-term prospects, despite the fact that most don't anticipate a shift in Mrs. Thatcher's economic policies.@@@@1@26@@oe@2-2-2013
20769015@unknown@formal@none@1@S@Mr. Foley of Lloyds noted that Mr. Lawson's replacement, John Major, the British foreign minister, will take time to establish his credibility and, in the meantime, sterling could trend downward in volatile trade.@@@@1@33@@oe@2-2-2013
20769016@unknown@formal@none@1@S@But Mr. Foley predicted few economic policy changes ahead, commenting that Mr. Major shares "a very similar view of the world" with Mr. Lawson.@@@@1@24@@oe@2-2-2013
20769017@unknown@formal@none@1@S@Bob Chandross, chief economist at Lloyds Bank in New York, also noted that the pound's sharp decline is pegged more to uncertainty in the market than a vision of altered United Kingdom economic policies.@@@@1@34@@oe@2-2-2013
20769018@unknown@formal@none@1@S@Unless Mr. Lawson's resignation leads to a change in British interest-rate policy -- Mrs. Thatcher's administration firmly supports high interest rates to keep inflation in check -- or posturing toward full inclusion in the European Monetary System's exchange-rate mechanism, Mr. Lawson's withdrawal will have little long-term impact on exchange rates, Mr. Chandross concluded.@@@@1@53@@oe@2-2-2013
20769019@unknown@formal@none@1@S@Also announcing his resignation Thursday was Alan Walters, Mrs. Thatcher's economic adviser and Mr. Lawson's nemesis.@@@@1@16@@oe@2-2-2013
20769020@unknown@formal@none@1@S@The pound, which had been trading at about $1.6143 in New York prior to Mr. Lawson's announcement, sank more than two cents to $1.5930, prompting the Federal Reserve Bank to buy pounds for dollars.@@@@1@34@@oe@2-2-2013
20769021@unknown@formal@none@1@S@The Fed's move, however, only proved a stopgap to the pound's slide and the Fed intervened for a second time at around $1.5825, according to New York traders.@@@@1@28@@oe@2-2-2013
20769022@unknown@formal@none@1@S@Meanwhile, dollar trading was relatively uninspired throughout the session, according to dealers, who noted that Thursday's release of the preliminary report on the U.S. third-quarter gross national product was something of a nonevent.@@@@1@33@@oe@2-2-2013
20769023@unknown@formal@none@1@S@U.S. GNP rose at an annual rate of 2.5% in the third quarter.@@@@1@13@@oe@2-2-2013
20769024@unknown@formal@none@1@S@The implicit price deflator, a measure of inflation, was down to a 2.9% annual rate of increase in the quarter from a 4.6% rate of gain in the second quarter.@@@@1@30@@oe@2-2-2013
20769025@unknown@formal@none@1@S@In Europe, the dollar ended lower in dull trading.@@@@1@9@@oe@2-2-2013
20769026@unknown@formal@none@1@S@The market closed prior to Mr. Lawson's announcement.@@@@1@8@@oe@2-2-2013
20769027@unknown@formal@none@1@S@On the Commodity Exchange in New York, gold for current delivery rose $3.40 to $372.50 an ounce in heavy trading.@@@@1@20@@oe@2-2-2013
20769028@unknown@formal@none@1@S@The close was the highest since August 3.@@@@1@8@@oe@2-2-2013
20769029@unknown@formal@none@1@S@Estimated volume was five million ounces.@@@@1@6@@oe@2-2-2013
20769030@unknown@formal@none@1@S@In early trading in Hong Kong Friday, gold was quoted at $370.85 an ounce.@@@@1@14@@oe@2-2-2013
20770001@unknown@formal@none@1@S@The following issues were recently filed with the Securities and Exchange Commission:@@@@1@12@@oe@2-2-2013
20770002@unknown@formal@none@1@S@Anheuser-Busch Cos., shelf offering of $575 million of debt securities.@@@@1@10@@oe@2-2-2013
20770003@unknown@formal@none@1@S@Coca-Cola Bottling Co. Consolidated, shelf offering of $200 million of debt securities, via Salomon Brothers Inc. and Goldman, Sachs & Co.@@@@1@21@@oe@2-2-2013
20770004@unknown@formal@none@1@S@First Brands Corp., proposed offering of 6,475,000 common shares, of which 1,475,000 common shares will be sold by the company and five million shares by holders, via First Boston Corp. and Credit Suisse First Boston Ltd.@@@@1@36@@oe@2-2-2013
20770005@unknown@formal@none@1@S@Home Nutritional Services Inc., a wholly owned subsidiary of Healthdyne Inc., proposed initial offering of four million common shares, of which 1.8 million will be sold by Home Nutritional Services and 2.2 million will be sold by Healthdyne, via Smith Barney, Harris Upham & Co.@@@@1@45@@oe@2-2-2013
20770006@unknown@formal@none@1@S@Parametric Technology Corp., initial public offering of 1.7 million common shares, of which 1,365,226 will be offered by the company and 334,774 will be offered by holders, via Alex. Brown & Sons Inc., Hambrecht & Quist Inc. and Wessels, Arnold & Henderson.@@@@1@42@@oe@2-2-2013
20770007@unknown@formal@none@1@S@SynOptics Communications Inc., proposed public offering of 1.5 million common shares, of which 1,003,884 shares are to be sold by the company and 496,116 shares are to be sold by holders, via Morgan Stanley & Co. and Hambrecht & Quist.@@@@1@40@@oe@2-2-2013
20771001@unknown@formal@none@1@S@On an office wall of the Senate intelligence committee hangs a quote from Chairman David Boren, "Don't hold your ticket 'til the show's over."@@@@1@24@@oe@2-2-2013
20771002@unknown@formal@none@1@S@He once used that line in a closed-door meeting on Panama, meaning don't shrink from taking action against Manuel Noriega.@@@@1@20@@oe@2-2-2013
20771003@unknown@formal@none@1@S@So how did a good senator like this end up approving a policy that required the U.S. to warn Mr. Noriega of any coup plot against him?@@@@1@27@@oe@2-2-2013
20771004@unknown@formal@none@1@S@"I agree, it's ridiculous," says Mr. Boren, and indeed by now ridiculous may be the only way to describe how the U.S. decides to take -- or rather, not to take -- covert action.@@@@1@34@@oe@2-2-2013
20771005@unknown@formal@none@1@S@George Bush disclosed the policy last week by reading it to GOP senators, perhaps as a way of shifting blame for the Panama fiasco to Congress.@@@@1@26@@oe@2-2-2013
20771006@unknown@formal@none@1@S@But the broader truth is more complicated -- and dismaying.@@@@1@10@@oe@2-2-2013
20771007@unknown@formal@none@1@S@The policy was contained in an exchange of letters last October between the Senate intelligence committee and the CIA and National Security Council.@@@@1@23@@oe@2-2-2013
20771008@unknown@formal@none@1@S@Staff lawyers for both sides were busy agreeing with one another about what the U.S. could not do to oust the Panamanian thug.@@@@1@23@@oe@2-2-2013
20771009@unknown@formal@none@1@S@They simply got carried away with interpreting what the executive order banning assassinations really meant.@@@@1@15@@oe@2-2-2013
20771010@unknown@formal@none@1@S@Mr. Boren himself didn't discover the warn-your-enemy nuance until Mr. Bush told him privately at the White House last week.@@@@1@20@@oe@2-2-2013
20771011@unknown@formal@none@1@S@It's ironic that David Boren should be in the center of this mire.@@@@1@13@@oe@2-2-2013
20771012@unknown@formal@none@1@S@A former Oklahoma governor, he's a thoughtful defender of presidential powers in foreign policy.@@@@1@14@@oe@2-2-2013
20771013@unknown@formal@none@1@S@He's a rare Democratic hawk.@@@@1@5@@oe@2-2-2013
20771014@unknown@formal@none@1@S@He's the senator most like Arthur Vandenberg, the GOP senator from Michigan who worked to forge a bipartisan foreign policy in the 1940s.@@@@1@23@@oe@2-2-2013
20771015@unknown@formal@none@1@S@"Vandenberg and Rayburn are heroes of mine," Mr. Boren says, referring as well to Sam Rayburn, the Democratic House speaker who cooperated with President Eisenhower.@@@@1@25@@oe@2-2-2013
20771016@unknown@formal@none@1@S@"They allowed this country to be credible.@@@@1@7@@oe@2-2-2013
20771017@unknown@formal@none@1@S@I really want to see that happen again."@@@@1@8@@oe@2-2-2013
20771018@unknown@formal@none@1@S@If this were 1949, Mr. Boren might even succeed.@@@@1@9@@oe@2-2-2013
20771019@unknown@formal@none@1@S@But in 1989 most senators have other ideas.@@@@1@8@@oe@2-2-2013
20771020@unknown@formal@none@1@S@Last July, his committee rejected a Reagan administration plan to support a coup in Panama.@@@@1@15@@oe@2-2-2013
20771021@unknown@formal@none@1@S@Ohio Democrat Howard Metzenbaum refused to support any plan that might get people hurt, a charming notion for a great power.@@@@1@21@@oe@2-2-2013
20771022@unknown@formal@none@1@S@Maine Republican William Cohen said the plan might violate the assassination ban.@@@@1@12@@oe@2-2-2013
20771023@unknown@formal@none@1@S@So the administration dropped it.@@@@1@5@@oe@2-2-2013
20771024@unknown@formal@none@1@S@By October, when the committee rejected a much more modest covert proposal, even the administration was agreeing little should be done.@@@@1@21@@oe@2-2-2013
20771025@unknown@formal@none@1@S@Mr. Boren doesn't think all this influenced the failed coup this month, but he does concede that Congress has made mistakes.@@@@1@21@@oe@2-2-2013
20771026@unknown@formal@none@1@S@"In the aftermath of Vietnam, in the aftermath of Iran-Contra, I can understand some people might think that if they plan a coup, they have to bring their lawyers," he says.@@@@1@31@@oe@2-2-2013
20771027@unknown@formal@none@1@S@But even Mr. Boren defends congressional oversight.@@@@1@7@@oe@2-2-2013
20771028@unknown@formal@none@1@S@Writing in the Harvard International Review, he says that his committee approves covert operations only when there's a "consensus."@@@@1@19@@oe@2-2-2013
20771029@unknown@formal@none@1@S@So what does consensus mean?@@@@1@5@@oe@2-2-2013
20771030@unknown@formal@none@1@S@"It doesn't mean unanimous," he insists, though he implies it means a bipartisan majority.@@@@1@14@@oe@2-2-2013
20771031@unknown@formal@none@1@S@"The sustainability of U.S. foreign policy is essential," he explains.@@@@1@10@@oe@2-2-2013
20771032@unknown@formal@none@1@S@"Why was containment so successful?@@@@1@5@@oe@2-2-2013
20771033@unknown@formal@none@1@S@Because it had bipartisan support."@@@@1@5@@oe@2-2-2013
20771034@unknown@formal@none@1@S@Mr. Boren is confusing consensus on general principles with agreement on specific actions.@@@@1@13@@oe@2-2-2013
20771035@unknown@formal@none@1@S@Elliott Abrams, a veteran of intelligence committee debates, doubts that even Grenada or the Libyan raid would have taken place if "consensus" had been required.@@@@1@25@@oe@2-2-2013
20771036@unknown@formal@none@1@S@Vandenberg and Rayburn were wise enough to leave specific operations to presidents; modern senators, Mr. Boren notwithstanding, are less modest.@@@@1@20@@oe@2-2-2013
20771037@unknown@formal@none@1@S@The result is that the Senate committee has what amounts to veto power over every covert action.@@@@1@17@@oe@2-2-2013
20771038@unknown@formal@none@1@S@"I wouldn't say it's quite a veto," Mr. Boren demurs.@@@@1@10@@oe@2-2-2013
20771039@unknown@formal@none@1@S@But wouldn't a president who acted despite Senate objections be taking grave political risks?@@@@1@14@@oe@2-2-2013
20771040@unknown@formal@none@1@S@"He would," agrees the chairman.@@@@1@5@@oe@2-2-2013
20771041@unknown@formal@none@1@S@"But that is something the president ought to know before he goes ahead."@@@@1@13@@oe@2-2-2013
20771042@unknown@formal@none@1@S@Mr. Boren even spies a silver lining.@@@@1@7@@oe@2-2-2013
20771043@unknown@formal@none@1@S@He figures the episode will help "clarify any ambiguities" between the committee and administration.@@@@1@14@@oe@2-2-2013
20771044@unknown@formal@none@1@S@He points to a letter on his desk, his second in a week from President Bush, saying that they "don't disagree."@@@@1@21@@oe@2-2-2013
20771045@unknown@formal@none@1@S@More broadly, Mr. Boren hopes that Panama will shock Washington out of its fear of using military power.@@@@1@18@@oe@2-2-2013
20771046@unknown@formal@none@1@S@"Maybe this will jolt us out of the post-Vietnam syndrome that we never are prepared to use force," he says.@@@@1@20@@oe@2-2-2013
20771047@unknown@formal@none@1@S@Maybe -- if every senator shared the principles of Mr. Boren.@@@@1@11@@oe@2-2-2013
20771048@unknown@formal@none@1@S@But it's just as plausible to argue that if even David Boren can get mired in this sort of mess, the problem goes beyond legal interpretation.@@@@1@26@@oe@2-2-2013
20771049@unknown@formal@none@1@S@Maybe the problem is a political system that won't act without an "exchange of letters," that insists on running foreign policy by committee, that treats a president as just another guy at the table.@@@@1@34@@oe@2-2-2013
20771050@unknown@formal@none@1@S@The reply of the Metzenbaums and Cohens is that we can't abolish these oversight committees because we've seen too many abuses of executive power.@@@@1@24@@oe@2-2-2013
20771051@unknown@formal@none@1@S@But Panama illustrates that their substitute is a system that produces an absurd gridlock.@@@@1@14@@oe@2-2-2013
20771052@unknown@formal@none@1@S@The lawyers are now in charge of our national security.@@@@1@10@@oe@2-2-2013
20771053@unknown@formal@none@1@S@In Panama, the U.S. interests at stake were happily minor; the only people killed were foreigners hapless enough to trust American will.@@@@1@22@@oe@2-2-2013
20771054@unknown@formal@none@1@S@Americans may not be so lucky the next time.@@@@1@9@@oe@2-2-2013
20772001@unknown@formal@none@1@S@I was impressed by the perceptiveness of your Sept. 12 story "Rural Enterprise: Tough Row To Hoe."@@@@1@17@@oe@2-2-2013
20772002@unknown@formal@none@1@S@We lived in rural areas many years, but now live in St. Louis County, Mo.@@@@1@15@@oe@2-2-2013
20772003@unknown@formal@none@1@S@This morning as I drove the 13 miles to my law office and endured the routine heavy traffic during that twice-daily journey, I thought of how fortunate it was that we made the decision to be residents of an expanding community with so many opportunities and where so much is happening.@@@@1@51@@oe@2-2-2013
20772004@unknown@formal@none@1@S@The presence of so many people, cars and competing businesses is evidence of a healthy economy in a place where people want to live.@@@@1@24@@oe@2-2-2013
20772005@unknown@formal@none@1@S@I thought back to our time in small, sparsely populated communities.@@@@1@11@@oe@2-2-2013
20772006@unknown@formal@none@1@S@I remembered how hard it was for an outsider to become accepted by long-established, stake-holding residents, and what pitfalls awaited an original thinker in societies that were long accustomed to unchanging, "safe" ways of thought and action.@@@@1@37@@oe@2-2-2013
20772007@unknown@formal@none@1@S@I remembered being fired at age 44, with five children at home, when my views and actions were deemed unsettling by a timid, small-town employer.@@@@1@25@@oe@2-2-2013
20772008@unknown@formal@none@1@S@How difficult it is for a thinking person to live among societies rooted in the past.@@@@1@16@@oe@2-2-2013
20772009@unknown@formal@none@1@S@Now, I revel in the freedom, culture, activity and diversity of this great metropolitan area with its traffic jams and perpetual road-building projects.@@@@1@23@@oe@2-2-2013
20772010@unknown@formal@none@1@S@Yet when my youngest child died two years ago, I buried him in the church cemetery of a small Missouri town.@@@@1@21@@oe@2-2-2013
20772011@unknown@formal@none@1@S@So after all, even the bitterest critic of rural exclusivity harbors a continuing yearning for those scarce, rural virtues thought to exist amid fields, forests and country lanes.@@@@1@28@@oe@2-2-2013
20772012@unknown@formal@none@1@S@Ronald Edwin Parsons Ballwin, Mo.@@@@1@5@@oe@2-2-2013
20773001@unknown@formal@none@1@S@Finnish government officials are negotiating with creditors of Waertsilae Marine Oy, a major shipyard that filed for bankruptcy protection this week, amid confusion and mounting doubts that collapse of the nation's entire shipbuilding industry can be averted.@@@@1@37@@oe@2-2-2013
20773002@unknown@formal@none@1@S@At stake are almost 10,000 jobs in an industry that has been the mainstay of Finland's post-war economic revival.@@@@1@19@@oe@2-2-2013
20773003@unknown@formal@none@1@S@Shipbuilding became a point of pride as Finnish shipyards remained profitable long after rivals collapsed all over Europe.@@@@1@18@@oe@2-2-2013
20773004@unknown@formal@none@1@S@But if, as many now fear, Waertsilae Marine joins the ranks of failed shipyards it might turn out to be remembered most as a blemish on Finland's international reputation.@@@@1@29@@oe@2-2-2013
20773005@unknown@formal@none@1@S@The shipyard's 6.5 billion Finnish markka ($1.54 billion) backlog includes about 20 ships ordered by big international shippers, including three for Carnival Cruise Lines Inc.@@@@1@25@@oe@2-2-2013
20773006@unknown@formal@none@1@S@Miami-based Carnival said the first of the three ships is scheduled to be delivered next month, just in time for the winter tourist season in the Caribbean.@@@@1@27@@oe@2-2-2013
20773007@unknown@formal@none@1@S@The second ship is scheduled to be delivered in fall 1990 and the third in fall 1991.@@@@1@17@@oe@2-2-2013
20773008@unknown@formal@none@1@S@One analyst said the first ship probably will be delivered close to schedule, but that Carnival may have to pay up to 25% more to get the second and third ships.@@@@1@31@@oe@2-2-2013
20773009@unknown@formal@none@1@S@All the ships are covered by loan guarantees from a state export financing agency, even though it's not clear whether they will actually be built.@@@@1@25@@oe@2-2-2013
20773010@unknown@formal@none@1@S@Bankers worry that if the government makes good a threat to withdraw its guarantee commitments, shippers will counter with a hail of lawsuits.@@@@1@23@@oe@2-2-2013
20773011@unknown@formal@none@1@S@State loan guarantees are rarely a source of controversy.@@@@1@9@@oe@2-2-2013
20773012@unknown@formal@none@1@S@However, some bankers cited possible parallels between the Waertsilae Marine case and the collapse of Norway's state-owned Kongsberg Vappenfabrikk AS two years ago.@@@@1@23@@oe@2-2-2013
20773013@unknown@formal@none@1@S@In that case, international banks and investors incurred big losses because they incorrectly believed the company's debt carried implicit state guarantees.@@@@1@21@@oe@2-2-2013
20773014@unknown@formal@none@1@S@Doubts about the quality of state credit guarantees could reduce the competitive strength of Finnish companies in world markets where financing often is the key to winning orders, analysts warn.@@@@1@30@@oe@2-2-2013
20773015@unknown@formal@none@1@S@Moreover, state-owned Finnish companies lacking formal state guarantees could face greater difficulty raising funds in international financial markets, bankers say.@@@@1@20@@oe@2-2-2013
20773016@unknown@formal@none@1@S@The decision by a majority of state-appointed Waertsilae Marine directors Monday to file for bankruptcy was an abrupt about-face from previous government policy.@@@@1@23@@oe@2-2-2013
20773017@unknown@formal@none@1@S@In August, the government played a major part in a sweeping restructuring of the troubled shipyard.@@@@1@16@@oe@2-2-2013
20773018@unknown@formal@none@1@S@At the time 71%-controlled by Oy Waertsilae, a conglomerate, the shipbuilding unit faced potential losses estimated at one billion markka and was on the brink of liquidation.@@@@1@27@@oe@2-2-2013
20773019@unknown@formal@none@1@S@Under the rescue plan, Waertsilae sold 51% of its stake to a group of banks and pension funds.@@@@1@18@@oe@2-2-2013
20773020@unknown@formal@none@1@S@The government, in turn, guaranteed financing to complete the order backlog and took control of the board.@@@@1@17@@oe@2-2-2013
20773021@unknown@formal@none@1@S@Government officials were expected to combine Waertsilae Marine with two other struggling firms, and thus ensure Finland's survival as a shipbuilding nation.@@@@1@22@@oe@2-2-2013
20773022@unknown@formal@none@1@S@The government spent most of last year attempting to carry out such a plan but was thwarted when the parent Waertsilae concern pulled out at the last minute.@@@@1@28@@oe@2-2-2013
20773023@unknown@formal@none@1@S@After the restructuring of Waertsilae Marine and bolstered by state loan guarantees, two big bank creditors, Union Bank of Finland and state-controlled Postipankki, resumed lending the shipyard working capital.@@@@1@29@@oe@2-2-2013
20773024@unknown@formal@none@1@S@But the bankers got cold feet recently as government officials complained they had been misled about the shipyard's actual financial condition, and hinted the credit guarantees might be withdrawn.@@@@1@29@@oe@2-2-2013
20773025@unknown@formal@none@1@S@People familiar with Monday's board meeting said it was the state's refusal to explicitly reaffirm the credit guarantees that led Union Bank and Postipankki to halt lending to Waertsilae Marine.@@@@1@30@@oe@2-2-2013
20773026@unknown@formal@none@1@S@Then, in a boardroom showdown, state-appointed directors voted to file for bankruptcy, apparently under instructions from Finland's Industry Minister Ilkka Suominen.@@@@1@21@@oe@2-2-2013
20773027@unknown@formal@none@1@S@Analysts say Mr. Suominen had grown increasingly worried about the state's potential financial exposure as Waertsilae Marine's losses ballooned to more than double the figure estimated in August.@@@@1@28@@oe@2-2-2013
20773028@unknown@formal@none@1@S@Noting that Sweden wound up wasting state subsidies of about 35 billion Swedish kronor ($5.47 billion) during the 1970s in a vain attempt to salvage its shipbuilding industry, one analyst suggested that Mr. Suominen may have decided to cut Finland's losses once and for all.@@@@1@45@@oe@2-2-2013
20773029@unknown@formal@none@1@S@Senior ministry officials huddled with creditors during the week in an attempt to agree on some form of restructuring that would keep Waertsilae Marine operating.@@@@1@25@@oe@2-2-2013
20773030@unknown@formal@none@1@S@The talks may drag on for weeks before any concrete result is announced, people familiar with them said.@@@@1@18@@oe@2-2-2013
20773031@unknown@formal@none@1@S@One solution would be to sell the shipyard to an outsider.@@@@1@11@@oe@2-2-2013
20773032@unknown@formal@none@1@S@But there appear to be few, if any, suitors.@@@@1@9@@oe@2-2-2013
20773033@unknown@formal@none@1@S@Indeed, the potential losses make any rescue scheme unlikely unless the politicians once again change tack and agree to pick up the bill, analysts said.@@@@1@25@@oe@2-2-2013
20773034@unknown@formal@none@1@S@Meantime, shippers with vessels on order from Waertsilae Marine will remain in limbo.@@@@1@13@@oe@2-2-2013
20774001@unknown@formal@none@1@S@Turner Broadcasting System Inc. said it expects to report an extraordinary loss of about $122 million in the fourth quarter due to early retirement of debt.@@@@1@26@@oe@2-2-2013
20774002@unknown@formal@none@1@S@The cable programmer said the loss will consist primarily of prepayment penalties, and unamortized issue discount and costs related to its just-completed $1.6 billion refinancing of its long-term debt and some preferred stock in one of its subsidiaries.@@@@1@38@@oe@2-2-2013
20774003@unknown@formal@none@1@S@A Turner spokesman wouldn't speculate on the extent of the charge's effect on the quarter's earnings, but said the company continues to expect to report a net loss for 1989.@@@@1@30@@oe@2-2-2013
20774004@unknown@formal@none@1@S@The company said the repayment or redemption of the long-term debt, and the outstanding Class A cumulative exchangeable preferred stock of Cable News Network, was made possible by an offering of about $750 million of debentures and notes and $900 million in bank borrowings.@@@@1@44@@oe@2-2-2013
20774005@unknown@formal@none@1@S@The offering included $550 million of 12% senior subordinated debentures due 2001 and $200 million of zero coupon liquid yield option notes due 2004.@@@@1@24@@oe@2-2-2013
20774006@unknown@formal@none@1@S@The notes were priced to yield 8% and are convertible into the company's Class B common stock at a price which represents a 15% premium over the market price on Oct. 10, 1989.@@@@1@33@@oe@2-2-2013
20774007@unknown@formal@none@1@S@In addition, the company called its 12 7/8% senior subordinated notes due 1994, with an aggregate principal amount of $200 million, for redemption on Dec. 15.@@@@1@26@@oe@2-2-2013
20774008@unknown@formal@none@1@S@As a result of the refinancing, the company said the interest on the debt will fall to slightly more than 11% from slightly more than 14%.@@@@1@26@@oe@2-2-2013
20774009@unknown@formal@none@1@S@In American Stock Exchange composite trading, Turner's Class A stock closed at $50.50, down 37.5 cents.@@@@1@16@@oe@2-2-2013
20775001@unknown@formal@none@1@S@General Motors Corp. said it will temporarily idle its Arlington, Texas, assembly plant for one week beginning Monday because of slow sales.@@@@1@22@@oe@2-2-2013
20775002@unknown@formal@none@1@S@The closing will affect about 3,000 workers and eliminate production of 700 cars.@@@@1@13@@oe@2-2-2013
20775003@unknown@formal@none@1@S@The assembly plant builds the Cadillac DeVille, Chevrolet Caprice and Oldsmobile Cutlass Ciera Wagon.@@@@1@14@@oe@2-2-2013
20775004@unknown@formal@none@1@S@In addition, GM's Truck & Bus Group said slow sales are forcing it to close its Detroit assembly plant the week beginning Monday.@@@@1@23@@oe@2-2-2013
20775005@unknown@formal@none@1@S@The plant builds chassis for recreational vehicles and about 450 workers will be affected by the closing.@@@@1@17@@oe@2-2-2013
20775006@unknown@formal@none@1@S@The No. 1 auto maker scheduled overtime this week at its Janesville, Wis., assembly plant, manufacturer of the Chevrolet Cavalier.@@@@1@20@@oe@2-2-2013
20775007@unknown@formal@none@1@S@The nine major U.S. auto makers plan to build 147,121 vehicles this week, down 9.6% from the 162,767 a year ago, but 2.5% higher than last week's 143,534.@@@@1@28@@oe@2-2-2013
20775008@unknown@formal@none@1@S@Ford Motor Co. slated overtime again this week at its Wixom, Mich.; Wayne, Mich.; Kansas City, Mo., and Norfolk, Va., assembly plants.@@@@1@22@@oe@2-2-2013
20775009@unknown@formal@none@1@S@They build the Lincoln Town Car, Continental and Mark VII, the Ford Escort and full-sized pickup trucks.@@@@1@17@@oe@2-2-2013
20775010@unknown@formal@none@1@S@Chrysler Corp. scheduled overtime this week at its St. Louis Assembly Plant No. 2, Newark, Del., and Sterling Heights, Mich., assembly plants.@@@@1@22@@oe@2-2-2013
20775011@unknown@formal@none@1@S@They build extended minivans and the Dodge Spirit, Acclaim, Shadow and Sundance.@@@@1@12@@oe@2-2-2013
20775012@unknown@formal@none@1@S@d-Percentage change is greater than 999%.@@@@1@6@@oe@2-2-2013
20775013@unknown@formal@none@1@S@e-Estimated.@@@@1@1@@oe@2-2-2013
20775014@unknown@formal@none@1@S@f-Includes Chevrolet Prizm and Toyota Corolla.@@@@1@6@@oe@2-2-2013
20775015@unknown@formal@none@1@S@r-Revised.@@@@1@1@@oe@2-2-2013
20775016@unknown@formal@none@1@S@x-Year-to-date 1988 figure includes Volkswagen domestic-production through July.@@@@1@8@@oe@2-2-2013
20776001@unknown@formal@none@1@S@The surprise resignations of two top economic government officials heaped more uncertainty on London's financial markets, which already have been laboring under worries about Britain's ailing economy.@@@@1@27@@oe@2-2-2013
20776002@unknown@formal@none@1@S@"The last thing markets like is uncertainty," said Ian Harwood, chief economist at S.G. Warburg & Co., of the resignations of Chancellor of the Exchequer Nigel Lawson and chief economic adviser Sir Alan Walters.@@@@1@34@@oe@2-2-2013
20776003@unknown@formal@none@1@S@"I think you'll see share prices go down, and sterling now is under something of a cloud."@@@@1@17@@oe@2-2-2013
20776004@unknown@formal@none@1@S@The pound immediately began to take a buffetting after the resignations were announced.@@@@1@13@@oe@2-2-2013
20776005@unknown@formal@none@1@S@In late New York trading, sterling stood at $1.5765, down from $1.6145 late Wednesday.@@@@1@14@@oe@2-2-2013
20776006@unknown@formal@none@1@S@The British economy is hardly the picture of health these days.@@@@1@11@@oe@2-2-2013
20776007@unknown@formal@none@1@S@At 15%, base interest rates are the highest in eight years, and the 7.6% annual inflation rate is by far the highest in the European Community.@@@@1@26@@oe@2-2-2013
20776008@unknown@formal@none@1@S@Unions are pressing demands for wage increases of more than 10% despite general belief that economic growth next year will be less than 2%.@@@@1@24@@oe@2-2-2013
20776009@unknown@formal@none@1@S@Increasingly, the financial markets are reflecting the gloom.@@@@1@8@@oe@2-2-2013
20776010@unknown@formal@none@1@S@The Financial Times 100-share index has dropped about 12% from its 1989 high of 2423.9 on Sept. 8.@@@@1@18@@oe@2-2-2013
20776011@unknown@formal@none@1@S@Yesterday, even before the resignations were announced, the index dove 32.5 points to close at 2129.4.@@@@1@16@@oe@2-2-2013
20776012@unknown@formal@none@1@S@"We are expecting a recession," says Donald Franklin, chief economist at Schroders investment bank.@@@@1@14@@oe@2-2-2013
20776013@unknown@formal@none@1@S@"The only question is, how deep is it going to be?@@@@1@11@@oe@2-2-2013
20776014@unknown@formal@none@1@S@The outlook for corporate earnings is fairly bleak.@@@@1@8@@oe@2-2-2013
20776015@unknown@formal@none@1@S@It's quite likely we're going to get repeats" of the mid-October market shocks.@@@@1@13@@oe@2-2-2013
20776016@unknown@formal@none@1@S@Red ink already has begun to flow in the wake of the U.S.-U.K. market breaks of Oct. 13 and Oct. 16.@@@@1@21@@oe@2-2-2013
20776017@unknown@formal@none@1@S@London-based LIT Holdings, the largest financer of traders in the Chicago options and futures markets, said yesterday it will incur a second-half loss as a result of the market plunge.@@@@1@30@@oe@2-2-2013
20776018@unknown@formal@none@1@S@The company, which also will omit its second-half dividend, didn't specify the size.@@@@1@13@@oe@2-2-2013
20776019@unknown@formal@none@1@S@But company insiders estimated that the loss could approach the equivalent of $10 million.@@@@1@14@@oe@2-2-2013
20776020@unknown@formal@none@1@S@Christopher Castleman, LIT chief executive, said in an interview that the loss stemmed from the default of three options traders who had bet on a price rise in UAL Corp. shares before Oct. 13.@@@@1@34@@oe@2-2-2013
20776021@unknown@formal@none@1@S@The price plummeted after a proposed leveraged buy-out of the airline fell through.@@@@1@13@@oe@2-2-2013
20776022@unknown@formal@none@1@S@LIT Holdings shares plummeted 36 pence to close at 54 pence (85 cents), a 40% drop, on London's stock exchange.@@@@1@20@@oe@2-2-2013
20776023@unknown@formal@none@1@S@Denizens of London's financial district are cushioning themselves for heavy blows.@@@@1@11@@oe@2-2-2013
20776024@unknown@formal@none@1@S@"A lot more of our customers are staying until our 10 p.m. closing time," says Christopher Brown, managing director of Corney & Barrow Restaurants Ltd., which runs five tony wine bars in the district.@@@@1@34@@oe@2-2-2013
20776025@unknown@formal@none@1@S@"There's a strong sense among the martini set that there's more {bad news} to come," asserts Roger Yates, chief investment officer at Morgan Grenfell Asset Management.@@@@1@26@@oe@2-2-2013
20776026@unknown@formal@none@1@S@"People in the stock market were very much Thatcher's children -- very young and wealthy optimists.@@@@1@16@@oe@2-2-2013
20776027@unknown@formal@none@1@S@Now it's dawning on them that they can be non-wealthy."@@@@1@10@@oe@2-2-2013
20776028@unknown@formal@none@1@S@The malaise has created a nostalgic longing for the uncomplicated days of the mid-1980s, before a rash of securities-firm mergers on the eve of the industry's deregulation in 1986.@@@@1@29@@oe@2-2-2013
20776029@unknown@formal@none@1@S@"People come to us saying they'd like to be back where they were a few years ago, in a more collegial atmosphere, with less tension," says Stephen Waterhouse, managing director of Hanover Partners Ltd., a financial district head-hunting firm.@@@@1@39@@oe@2-2-2013
20776030@unknown@formal@none@1@S@But after trading losses in the mid-October market jolts here, many people will be lucky to have jobs at all, executives predict.@@@@1@22@@oe@2-2-2013
20776031@unknown@formal@none@1@S@The industry, which currently employs about 25,000 people in London, has shed about 2,500 jobs over the past two years.@@@@1@20@@oe@2-2-2013
20776032@unknown@formal@none@1@S@"I can see cuts of at least 20% more," says the head of the London office of a major U.S. firm.@@@@1@21@@oe@2-2-2013
20776033@unknown@formal@none@1@S@The mergers and acquisitions market has been a saving grace for the industry, but uncertainties are beginning to mount even there.@@@@1@21@@oe@2-2-2013
20776034@unknown@formal@none@1@S@Intra-European takeovers are expected to continue at their brisk pace.@@@@1@10@@oe@2-2-2013
20776035@unknown@formal@none@1@S@But investment bankers say that stock market uncertainties in the U.S. may cause many European companies to mark time before bidding for American companies, in the hope that share prices will come down.@@@@1@33@@oe@2-2-2013
20776036@unknown@formal@none@1@S@"If prices in the States go down, industrial buyers in Europe have the opportunity of getting reasonable prices in the U.S.," says Francois von Hurter, chief of Continential M&A at Credit Suisse First Boston Ltd.@@@@1@35@@oe@2-2-2013
20776037@unknown@formal@none@1@S@But he adds: "Everybody and his sister have opened up M&A shops.@@@@1@12@@oe@2-2-2013
20776038@unknown@formal@none@1@S@It's difficult to see that there's going to be enough business to go around.@@@@1@14@@oe@2-2-2013
20776039@unknown@formal@none@1@S@About eight firms will get the lion's share.@@@@1@8@@oe@2-2-2013
20776040@unknown@formal@none@1@S@At the others, there are going to be a lot of disappointments, after all those promises and all that big money that's been paid to people."@@@@1@26@@oe@2-2-2013
20776041@unknown@formal@none@1@S@It all adds up to a cold winter here.@@@@1@9@@oe@2-2-2013
20776042@unknown@formal@none@1@S@Says Allen D. Wheat, head of trading at Bankers Trust Co.: "People are just plain scared."@@@@1@16@@oe@2-2-2013
20776043@unknown@formal@none@1@S@One person who is past worrying about London's blues is Christopher Hartley.@@@@1@12@@oe@2-2-2013
20776044@unknown@formal@none@1@S@Last summer, he chucked his 10-year career as a London stockbroker and headed for the mountains.@@@@1@16@@oe@2-2-2013
20776045@unknown@formal@none@1@S@He didn't stop until he got to Jackson Hole, Wyo.@@@@1@10@@oe@2-2-2013
20776046@unknown@formal@none@1@S@"I'm glad to be out," said the 32-year-old Mr. Hartley in a phone interview.@@@@1@14@@oe@2-2-2013
20776047@unknown@formal@none@1@S@"The percentage of your day spent twiddling your thumbs got greater, and the work day kept getting longer.@@@@1@18@@oe@2-2-2013
20776048@unknown@formal@none@1@S@What am I doing in Jackson Hole?@@@@1@7@@oe@2-2-2013
20776049@unknown@formal@none@1@S@Not a great deal.@@@@1@4@@oe@2-2-2013
20776050@unknown@formal@none@1@S@My wife and I will stay through the skiing season, or until the money runs out -- whichever comes first.@@@@1@20@@oe@2-2-2013
20776051@unknown@formal@none@1@S@But unlike London, out here I've never heard anybody blow a car horn in anger.@@@@1@15@@oe@2-2-2013
20777001@unknown@formal@none@1@S@SYDNEY-Qintex Australia Ltd., under pressure from bank lenders, has called in accounting firm Peat Marwick Hungerfords to help oversee asset sales and restructure the resorts and media company.@@@@1@28@@oe@2-2-2013
20777002@unknown@formal@none@1@S@Analysts said the move could presage even harsher action by the banks.@@@@1@12@@oe@2-2-2013
20777003@unknown@formal@none@1@S@But any move by the banks to take over Qintex Australia's management could threaten its ability to operate its national television network under Australian broadcast license rules.@@@@1@27@@oe@2-2-2013
20777004@unknown@formal@none@1@S@That, in turn, could substantially reduce the value of the television assets.@@@@1@12@@oe@2-2-2013
20777005@unknown@formal@none@1@S@The appointment of Peat Marwick, which has a unit that specializes in advising troubled companies, came about as a result of a round of meetings held by Qintex Australia Chairman Christopher Skase with bank creditors.@@@@1@35@@oe@2-2-2013
20777006@unknown@formal@none@1@S@Yesterday, Mr. Skase said the company is "solvent and with the continued support of its bankers is able to meet its financial commitments."@@@@1@23@@oe@2-2-2013
20777007@unknown@formal@none@1@S@Qintex Australia is a unit of Qintex Ltd.@@@@1@8@@oe@2-2-2013
20777008@unknown@formal@none@1@S@The Qintex group's problems began in earnest in March, when Mr. Skase agreed to buy MGM/UA Communications Co.@@@@1@18@@oe@2-2-2013
20777009@unknown@formal@none@1@S@But the transaction faltered in September, when Qintex Australia was forced to increase its offer to US$1.5 billion following a counterbid from Rupert Murdoch; the deal fell apart altogether earlier this month.@@@@1@32@@oe@2-2-2013
20777010@unknown@formal@none@1@S@Qintex Australia owes creditors around A$1.2 billion.@@@@1@7@@oe@2-2-2013
20777011@unknown@formal@none@1@S@Last Friday, Qintex Entertainment Inc., its 43%-owned U.S. TV production and distribution affiliate, filed for Chapter 11 protection.@@@@1@18@@oe@2-2-2013
20778001@unknown@formal@none@1@S@The government is sharpening its newest weapon against white-collar defendants: the power to prevent them from paying their legal bills.@@@@1@20@@oe@2-2-2013
20778002@unknown@formal@none@1@S@And defense lawyers are warning that they won't stick around if they don't get paid.@@@@1@15@@oe@2-2-2013
20778003@unknown@formal@none@1@S@The issue has come to a boil in Newark, N.J., where federal prosecutors have warned lawyers for Eddie Antar that if the founder and former chairman of Crazy Eddie Inc. is indicted, the government may move to seize the money that Mr. Antar is using to pay legal fees.@@@@1@49@@oe@2-2-2013
20778004@unknown@formal@none@1@S@The warning by the U.S. attorney's office follows two decisions by the U.S. Supreme Court last June.@@@@1@17@@oe@2-2-2013
20778005@unknown@formal@none@1@S@In those cases, the high court ruled that federal law gives prosecutors broad authority to seize assets of people accused of racketeering and drug-related crimes, including fees paid to lawyers before an indictment.@@@@1@33@@oe@2-2-2013
20778006@unknown@formal@none@1@S@If the government succeeds in seizing Mr. Antar's assets, he could be left without top-flight legal representation, because his attorneys are likely to quit, according to individuals familiar with the case.@@@@1@31@@oe@2-2-2013
20778007@unknown@formal@none@1@S@A seizure also would make the case the largest -- and one of the first -- in which lawyers' fees have been confiscated in a prosecution unrelated to drugs.@@@@1@29@@oe@2-2-2013
20778008@unknown@formal@none@1@S@"The people who suffer in the short run are defendants, but the people who suffer in the long run are all of the people, because there won't be a vigorous private bar to defend the Bill of Rights," says Gerald Lefcourt, a criminal defense attorney who says he has turned down a number of cases to avoid possible fee seizures.@@@@1@60@@oe@2-2-2013
20778009@unknown@formal@none@1@S@Mr. Antar is being investigated by a federal grand jury in Newark, where prosecutors have told him that they may soon seek an indictment on racketeering and securities fraud charges.@@@@1@30@@oe@2-2-2013
20778010@unknown@formal@none@1@S@Under the Racketeer Influenced and Corrupt Organizations law, or RICO, the government has the authority to seek to freeze or seize a defendant's assets before trial.@@@@1@26@@oe@2-2-2013
20778011@unknown@formal@none@1@S@According to individuals familiar with Mr. Antar's case, prosecutors issued their warning this week after one of Mr. Antar's attorneys asked whether legal fees might be subject to seizure.@@@@1@29@@oe@2-2-2013
20778012@unknown@formal@none@1@S@In a letter, prosecutors told Mr. Antar's lawyers that because of the recent Supreme Court rulings, they could expect that any fees collected from Mr. Antar may be seized.@@@@1@29@@oe@2-2-2013
20778013@unknown@formal@none@1@S@Prosecutors have told Mr. Antar's attorneys that they believe Mr. Antar's allegedly ill-gotten gains are so great that any money he has used to pay attorneys derives from illegal activities.@@@@1@30@@oe@2-2-2013
20778014@unknown@formal@none@1@S@Therefore, they said, the money can be taken from the lawyers even after they are paid.@@@@1@16@@oe@2-2-2013
20778015@unknown@formal@none@1@S@Justin Feldman and Jack Arseneault, attorneys for Mr. Antar, both declined to comment on the matter.@@@@1@16@@oe@2-2-2013
20778016@unknown@formal@none@1@S@In Newark, U.S. Attorney Samuel A. Alito said, "I don't think there's any legal reason to limit forfeiture of attorney's fees to drug cases."@@@@1@24@@oe@2-2-2013
20778017@unknown@formal@none@1@S@Mr. Alito said his office "just responded to an attorney's question about whether we would go after attorney's fees, and that is different from actually doing it, although we reserve that right."@@@@1@32@@oe@2-2-2013
20778018@unknown@formal@none@1@S@Mr. Antar was charged last month in a civil suit filed in federal court in Newark by the Securities and Exchange Commission.@@@@1@22@@oe@2-2-2013
20778019@unknown@formal@none@1@S@In that suit, the SEC accused Mr. Antar of engaging in a "massive financial fraud" to overstate the earnings of Crazy Eddie, Edison, N.J., over a three-year period.@@@@1@28@@oe@2-2-2013
20778020@unknown@formal@none@1@S@Through his lawyers, Mr. Antar has denied allegations in the SEC suit and in civil suits previously filed by shareholders against Mr. Antar and others.@@@@1@25@@oe@2-2-2013
20778021@unknown@formal@none@1@S@The SEC has alleged that Mr. Antar aimed to pump up the company's stock price through false financial statements in order to sell his stake and reap huge profits.@@@@1@29@@oe@2-2-2013
20778022@unknown@formal@none@1@S@Mr. Antar, the SEC said, made more than $60 million from the sale of his shares between 1985 and 1987.@@@@1@20@@oe@2-2-2013
20778023@unknown@formal@none@1@S@The Justice Department has emphasized that the government's fee-forfeiture power is to be used sparingly.@@@@1@15@@oe@2-2-2013
20778024@unknown@formal@none@1@S@According to department policy, prosecutors must make a strong showing that lawyers' fees came from assets tainted by illegal profits before any attempts at seizure are made.@@@@1@27@@oe@2-2-2013
20778025@unknown@formal@none@1@S@Still, criminal defense lawyers worry that defendants are being deprived of their Sixth Amendment right to counsel and a fair trial if the government can seize lawyers' fees.@@@@1@28@@oe@2-2-2013
20778026@unknown@formal@none@1@S@They also worry that if the government applies asset-forfeiture laws broadly, the best defense lawyers will be unwilling to take criminal cases unless they are assured of being paid.@@@@1@29@@oe@2-2-2013
20779001@unknown@formal@none@1@S@The stock market correction of Oct. 13, 1989, was a grim reminder of the Oct. 19, 1987 market collapse.@@@@1@19@@oe@2-2-2013
20779002@unknown@formal@none@1@S@Since, like earthquakes, stock market disturbances will always be with us, it is prudent to take all possible precautions against another such market collapse.@@@@1@24@@oe@2-2-2013
20779003@unknown@formal@none@1@S@In general, markets function well and adjust smoothly to changing economic and financial circumstances.@@@@1@14@@oe@2-2-2013
20779004@unknown@formal@none@1@S@But there are times when they seize up, and panicky sellers cannot find buyers.@@@@1@14@@oe@2-2-2013
20779005@unknown@formal@none@1@S@That's just what happened in the October 1987 crash.@@@@1@9@@oe@2-2-2013
20779006@unknown@formal@none@1@S@As the market tumbled, disorderly market conditions prevailed: The margins between buying bids and selling bids widened; trading in many stocks was suspended; orders took unduly long to be executed; and many specialists stopped trading altogether.@@@@1@36@@oe@2-2-2013
20779007@unknown@formal@none@1@S@These failures in turn contributed to the fall in the market averages: Uncertainty extracted an extra risk premium and margin-calls triggered additional selling pressures.@@@@1@24@@oe@2-2-2013
20779008@unknown@formal@none@1@S@The situation was like that of a skier who is thrown slightly off balance by an unexpected bump on the slope.@@@@1@21@@oe@2-2-2013
20779009@unknown@formal@none@1@S@His skis spread farther and farther apart -- just as buy-sell spreads widen during a financial panic -- and soon he is out of control.@@@@1@25@@oe@2-2-2013
20779010@unknown@formal@none@1@S@Unable to stop his accelerating descent, he crashes.@@@@1@8@@oe@2-2-2013
20779011@unknown@formal@none@1@S@After the 1987 crash, and as a result of the recommendations of many studies, "circuit breakers" were devised to allow market participants to regroup and restore orderly market conditions.@@@@1@29@@oe@2-2-2013
20779012@unknown@formal@none@1@S@It's doubtful, though, whether circuit breakers do any real good.@@@@1@10@@oe@2-2-2013
20779013@unknown@formal@none@1@S@In the additional time they provide even more order imbalances might pile up, as would-be sellers finally get their broker on the phone.@@@@1@23@@oe@2-2-2013
20779014@unknown@formal@none@1@S@Instead, an appropriate institution should be charged with the job of preventing chaos in the market: the Federal Reserve.@@@@1@19@@oe@2-2-2013
20779015@unknown@formal@none@1@S@The availability of timely assistance -- of a backstop -- can help markets retain their resilience.@@@@1@16@@oe@2-2-2013
20779016@unknown@formal@none@1@S@The Fed already buys and sells foreign exchange to prevent disorderly conditions in foreign-exchange markets.@@@@1@15@@oe@2-2-2013
20779017@unknown@formal@none@1@S@The Fed has assumed a similar responsibility in the market for government securities.@@@@1@13@@oe@2-2-2013
20779018@unknown@formal@none@1@S@The stock market is the only major market without a market-maker of unchallenged liquidity or a buyer of last resort.@@@@1@20@@oe@2-2-2013
20779019@unknown@formal@none@1@S@This does not mean that the Federal Reserve does not already play an important indirect role in the stock market.@@@@1@20@@oe@2-2-2013
20779020@unknown@formal@none@1@S@In 1987, it pumped billions into the markets through open market operations and the discount window.@@@@1@16@@oe@2-2-2013
20779021@unknown@formal@none@1@S@It lent money to banks and encouraged them to make funds available to brokerage houses.@@@@1@15@@oe@2-2-2013
20779022@unknown@formal@none@1@S@They, in turn, lent money to their customers -- who were supposed to recognize the opportunity to make a profit in the turmoil and buy shares.@@@@1@26@@oe@2-2-2013
20779023@unknown@formal@none@1@S@The Fed also has the power to set margin requirements.@@@@1@10@@oe@2-2-2013
20779024@unknown@formal@none@1@S@But wouldn't it be more efficient and effective to supply such support to the stock market directly?@@@@1@17@@oe@2-2-2013
20779025@unknown@formal@none@1@S@Instead of flooding the entire economy with liquidity, and thereby increasing the danger of inflation, the Fed could support the stock market directly by buying market averages in the futures market, thus stabilizing the market as a whole.@@@@1@38@@oe@2-2-2013
20779026@unknown@formal@none@1@S@The stock market is certainly not too big for the Fed to handle.@@@@1@13@@oe@2-2-2013
20779027@unknown@formal@none@1@S@The foreign-exchange and government securities markets are vastly larger.@@@@1@9@@oe@2-2-2013
20779028@unknown@formal@none@1@S@Daily trading volume in the New York foreign exchange market is $130 billion.@@@@1@13@@oe@2-2-2013
20779029@unknown@formal@none@1@S@The daily volume for Treasury Securities is about $110 billion.@@@@1@10@@oe@2-2-2013
20779030@unknown@formal@none@1@S@The combined value of daily equity trading on the New York Exchange, the American Stock Exchange and the NASDAQ over-the-counter market ranges between $7 billion and $10 billion.@@@@1@28@@oe@2-2-2013
20779031@unknown@formal@none@1@S@The $13 billion the Fed injected into the money markets after the 1987 crash is more than enough to buy all the stocks traded on a typical day.@@@@1@28@@oe@2-2-2013
20779032@unknown@formal@none@1@S@More carefully targeted intervention might actually reduce the need for government action.@@@@1@12@@oe@2-2-2013
20779033@unknown@formal@none@1@S@And taking more direct action has the advantage of avoiding sharp increases in the money supply, such as happened in October 1987.@@@@1@22@@oe@2-2-2013
20779034@unknown@formal@none@1@S@The Fed's stock market role ought not to be very ambitious.@@@@1@11@@oe@2-2-2013
20779035@unknown@formal@none@1@S@It should seek only to maintain the functioning of markets -- not to prop up the Dow Jones or New York Stock Exchange averages at a particular level.@@@@1@28@@oe@2-2-2013
20779036@unknown@formal@none@1@S@The Fed should guard against systemic risk, but not against the risks inherent in individual stocks.@@@@1@16@@oe@2-2-2013
20779037@unknown@formal@none@1@S@It would be inappropriate for the government or the central bank to buy or sell IBM or General Motors shares.@@@@1@20@@oe@2-2-2013
20779038@unknown@formal@none@1@S@Instead, the Fed could buy the broad market composites in the futures market.@@@@1@13@@oe@2-2-2013
20779039@unknown@formal@none@1@S@The increased demand would normalize trading and stabilize prices.@@@@1@9@@oe@2-2-2013
20779040@unknown@formal@none@1@S@Stabilizing the derivative markets would tend to stabilize the primary market.@@@@1@11@@oe@2-2-2013
20779041@unknown@formal@none@1@S@The Fed would eliminate the cause of the potential panic rather than attempting to treat the symptom -- the liquidity of the banks.@@@@1@23@@oe@2-2-2013
20779042@unknown@formal@none@1@S@Disorderly market conditions could be observed quite frequently in foreign exchange markets in the 1960s and 1970s.@@@@1@17@@oe@2-2-2013
20779043@unknown@formal@none@1@S@But since the member countries of the International Monetary Fund agreed to the "Guidelines to Floating" in 1974, such difficulties have been avoided.@@@@1@23@@oe@2-2-2013
20779044@unknown@formal@none@1@S@I cannot recall any disorder in currency markets since the 1974 guidelines were adopted.@@@@1@14@@oe@2-2-2013
20779045@unknown@formal@none@1@S@Thus, the mere existence of a market-stabilizing agency helps to avoid panic in emergencies.@@@@1@14@@oe@2-2-2013
20779046@unknown@formal@none@1@S@The old saying advises: "If it ain't broke, don't fix it."@@@@1@11@@oe@2-2-2013
20779047@unknown@formal@none@1@S@But this could be a case where we all might go broke if it isn't fixed.@@@@1@16@@oe@2-2-2013
20779048@unknown@formal@none@1@S@Mr. Heller, now at VISA International, was a governor of the Federal Reserve Board from 1986 until earlier this year.@@@@1@20@@oe@2-2-2013
20779049@unknown@formal@none@1@S@This is adapted from a speech to the Commonwealth Club in San Francisco.@@@@1@13@@oe@2-2-2013
20780001@unknown@formal@none@1@S@Bank of England Governor Robin Leigh-Pemberton urged banks to be cautious in financing leveraged buy-outs.@@@@1@15@@oe@2-2-2013
20780002@unknown@formal@none@1@S@"Caution should . . . be the rule of the day," said Mr. Leigh-Pemberton in a speech to the Association of Corporate Treasurers' annual dinner.@@@@1@25@@oe@2-2-2013
20780003@unknown@formal@none@1@S@"It would be damaging to industry and to the financial sector in general, to say nothing of banks, if prudence does not guide the financing of leveraged transactions."@@@@1@28@@oe@2-2-2013
20780004@unknown@formal@none@1@S@His remarks were distributed to the press before Chancellor of the Exchequer Nigel Lawson announced his resignation last evening.@@@@1@19@@oe@2-2-2013
20780005@unknown@formal@none@1@S@Bank of England officials said the central bank had no comment on Mr. Lawson's resignation.@@@@1@15@@oe@2-2-2013
20780006@unknown@formal@none@1@S@Mr. Leigh-Pemberton reiterated that the exposure of United Kingdom banks to leveraged deals haven't yet reached "worrying levels."@@@@1@18@@oe@2-2-2013
20780007@unknown@formal@none@1@S@However, in light of the risks involved in such transactions, banks should satisfy themselves that they have the skills to participate in this market and clear policy guidelines on acceptable levels of exposure to such transactions, he said.@@@@1@38@@oe@2-2-2013
20780008@unknown@formal@none@1@S@In other comments, he said takeovers may not always be the most efficient way of securing a change of corporate direction or strategy.@@@@1@23@@oe@2-2-2013
20780009@unknown@formal@none@1@S@"A similar result could sometimes be achieved, at less cost, by changing managements," he said.@@@@1@15@@oe@2-2-2013
20781001@unknown@formal@none@1@S@Intel Corp.'s most powerful computer chip has flaws that could delay several computer makers' marketing efforts, but the "bugs" aren't expected to hurt Intel and most computer makers.@@@@1@28@@oe@2-2-2013
20781002@unknown@formal@none@1@S@Computer experts familiar with the flaws, found in Intel's 80486 chip, say the defects don't affect the average user and are likely to be cleared up before most computers using the chip as their "brains" appear on the market sometime next year.@@@@1@42@@oe@2-2-2013
20781003@unknown@formal@none@1@S@Intel said that last week a customer discovered two flaws in its 80486 microprocessor chip's "floating-point unit", a set of circuits that do certain calculations.@@@@1@25@@oe@2-2-2013
20781004@unknown@formal@none@1@S@On Friday, Intel began notifying customers about the bugs which cause the chip to give wrong answers for some mathematical calculations.@@@@1@21@@oe@2-2-2013
20781005@unknown@formal@none@1@S@But while International Business Machines Corp. and Compaq Computer Corp. say the bugs will delay products, most big computer makers said the flaws don't affect them.@@@@1@26@@oe@2-2-2013
20781006@unknown@formal@none@1@S@"Bugs like this are just a normal part of product development," said Richard Archuleta, director of Hewlett-Packard Co.'s advanced systems development.@@@@1@21@@oe@2-2-2013
20781007@unknown@formal@none@1@S@Hewlett announced last week that it planned to ship a computer based on the 486 chip early next year.@@@@1@19@@oe@2-2-2013
20781008@unknown@formal@none@1@S@"These bugs don't affect our schedule at all," he said.@@@@1@10@@oe@2-2-2013
20781009@unknown@formal@none@1@S@Likewise, AST Research Inc. and Sun Microsystems Inc. said the bugs won't delay their development of 486-based machines.@@@@1@18@@oe@2-2-2013
20781010@unknown@formal@none@1@S@"We haven't modified our schedules in any way," said a Sun spokesman.@@@@1@12@@oe@2-2-2013
20781011@unknown@formal@none@1@S@To switch to another vendor's chips, "would definitely not be an option," he said.@@@@1@14@@oe@2-2-2013
20781012@unknown@formal@none@1@S@Nonetheless, concern about the chip may have been responsible for a decline of 87.5 cents in Intel's stock to $32 a share yesterday in over-the-counter trading, on volume of 3,609,800 shares, and partly responsible for a drop in Compaq's stock in New York Stock Exchange composite trading on Wednesday.@@@@1@49@@oe@2-2-2013
20781013@unknown@formal@none@1@S@Yesterday, Compaq plunged further, closing at $100 a share, off $8.625 a share, on volume of 2,633,700 shares.@@@@1@18@@oe@2-2-2013
20781014@unknown@formal@none@1@S@Most of Compaq's decline is being attributed to a third-quarter earnings report that came in at the low end of analysts' expectations.@@@@1@22@@oe@2-2-2013
20781015@unknown@formal@none@1@S@Intel said it had corrected the problems and would start producing bugless chips next week.@@@@1@15@@oe@2-2-2013
20781016@unknown@formal@none@1@S@"We should not be seeing any more," said Bill Rash, Intel's director for the 486 chip.@@@@1@16@@oe@2-2-2013
20781017@unknown@formal@none@1@S@What's more, the bugs only emerge on esoteric applications such as computer-aided design and scientific calculations, he said, and then very seldom.@@@@1@22@@oe@2-2-2013
20781018@unknown@formal@none@1@S@"These errata do not affect business programs," he said.@@@@1@9@@oe@2-2-2013
20781019@unknown@formal@none@1@S@The bugs will cause problems in "specific and rare circumstances that will not occur in typical applications" such as word-processing and spreadsheets, said Michael Slater, editor of the Microprocessor Report, an industry newsletter.@@@@1@33@@oe@2-2-2013
20781020@unknown@formal@none@1@S@Sun, Hewlett-Packard and others say Intel isn't wholly to blame for the snafu.@@@@1@13@@oe@2-2-2013
20781021@unknown@formal@none@1@S@The real culprits, they said, are computer makers such as IBM that have jumped the gun to unveil 486-based products.@@@@1@20@@oe@2-2-2013
20781022@unknown@formal@none@1@S@"The reason this is getting so much visibility is that some started shipping and announced early availability," said Hewlett-Packard's Mr. Archuleta.@@@@1@21@@oe@2-2-2013
20781023@unknown@formal@none@1@S@"You can do that but you're taking a risk.@@@@1@9@@oe@2-2-2013
20781024@unknown@formal@none@1@S@Those companies are paying the price for taking the risk."@@@@1@10@@oe@2-2-2013
20781025@unknown@formal@none@1@S@In late September, IBM began shipping a plug-in card that converts its PS/2 model 70-A21 from a 80386 machine to an 80486 machine.@@@@1@23@@oe@2-2-2013
20781026@unknown@formal@none@1@S@An IBM spokeswoman said the company told customers Monday about the bugs and temporarily stopped shipping the product.@@@@1@18@@oe@2-2-2013
20781027@unknown@formal@none@1@S@IBM has no plans to recall its add-on cards, the spokeswoman said, and could probably circumvent the bugs without long product delays.@@@@1@22@@oe@2-2-2013
20781028@unknown@formal@none@1@S@"We don't look at this as a major problem for us," she said.@@@@1@13@@oe@2-2-2013
20781029@unknown@formal@none@1@S@Compaq, which said it discovered the bugs, still plans to announce new 486 products on Nov. 6.@@@@1@17@@oe@2-2-2013
20781030@unknown@formal@none@1@S@Because of the glitch, however, the company said it doesn't know when its machine will be commercially available.@@@@1@18@@oe@2-2-2013
20781031@unknown@formal@none@1@S@That's a break from Compaq tradition, because the company doesn't announce products until they're actually at the dealers.@@@@1@18@@oe@2-2-2013
20781032@unknown@formal@none@1@S@The problem is being ballyhooed, experts say, because the 486 is Intel's future flagship.@@@@1@14@@oe@2-2-2013
20781033@unknown@formal@none@1@S@Intel's microprocessors are the chips of choice in many of today's personal computers and the 80486 microprocessor is the spearhead of the company's bid to guard that spot in the next generation of machines.@@@@1@34@@oe@2-2-2013
20781034@unknown@formal@none@1@S@"Although these sorts of bugs are not at all uncommon, the 486 is an extremely high-profile product," said Mr. Slater, the newsletter editor.@@@@1@23@@oe@2-2-2013
20781035@unknown@formal@none@1@S@Intel's 80486 chip is the Corvette of Intel's microprocessors, a super-fast, super-expensive chip that only the most power-hungry computer users are likely to buy for at least several years.@@@@1@29@@oe@2-2-2013
20781036@unknown@formal@none@1@S@Unveiled last April, the chip crams 1.2 million transistors on a sliver of silicon, more than four times as many as on Intel's earlier model, 80386.@@@@1@26@@oe@2-2-2013
20781037@unknown@formal@none@1@S@Intel clocks the chip's speed at 15 million instructions per second, or MIPs.@@@@1@13@@oe@2-2-2013
20781038@unknown@formal@none@1@S@That's four times as fast as the 386.@@@@1@8@@oe@2-2-2013
20781039@unknown@formal@none@1@S@Machines using the 486 are expected to challenge higher-priced work stations and minicomputers in applications such as so-called servers, which connect groups of computers together, and in computer-aided design.@@@@1@29@@oe@2-2-2013
20781040@unknown@formal@none@1@S@But while the chip's speed in processing power is dazzling, it's real strength lies in its software inheritance.@@@@1@18@@oe@2-2-2013
20781041@unknown@formal@none@1@S@The 486 is the descendant of a long series of Intel chips that began dominating the market ever since IBM picked the 16-bit 8088 chip for its first personal computer.@@@@1@30@@oe@2-2-2013
20781042@unknown@formal@none@1@S@(A 16-bit microprocessor processes 16 pieces of data at a time and is slower than newer, 32-bit chips.)@@@@1@18@@oe@2-2-2013
20781043@unknown@formal@none@1@S@Since then, Intel has cornered a large part of the market with successive generations of 16-bit and 32-bit chips, all of which can run software written for previous models.@@@@1@29@@oe@2-2-2013
20781044@unknown@formal@none@1@S@That's what will keep computer makers coming in spite of the irritation of bugs.@@@@1@14@@oe@2-2-2013
20781045@unknown@formal@none@1@S@Big personal computer makers and many makers of engineering workstations are developing 486-based machines, which are expected to reach the market early next year.@@@@1@24@@oe@2-2-2013
20781046@unknown@formal@none@1@S@Of the big computer makers, only Apple Computer Co. bases its machines on Motorola chips instead.@@@@1@16@@oe@2-2-2013
20781047@unknown@formal@none@1@S@"The 486 is going to have a big impact on the industry," said Hewlett-Packard's Mr. Archuleta.@@@@1@16@@oe@2-2-2013
20781048@unknown@formal@none@1@S@"It's going to be the leading edge technology in personal computers for the next few years.@@@@1@16@@oe@2-2-2013
20781049@unknown@formal@none@1@S@This bug is not going to have any affect on that at all."@@@@1@13@@oe@2-2-2013
20781050@unknown@formal@none@1@S@Andy Zipser in Dallas contributed to this article.@@@@1@8@@oe@2-2-2013
20782001@unknown@formal@none@1@S@Bethlehem Steel Corp. has agreed in principle to form a joint venture with the world's second-largest steelmaker, Usinor-Sacilor of France, to modernize a portion of Bethlehem's ailing BethForge division.@@@@1@29@@oe@2-2-2013
20782002@unknown@formal@none@1@S@The venture, which involves adding sophisticated equipment to make cast-iron mill rolls, is part of a two-pronged effort to shore up a division that has posted continuing operating losses for several years.@@@@1@32@@oe@2-2-2013
20782003@unknown@formal@none@1@S@The other element includes consolidating BethForge's press-forge operations.@@@@1@8@@oe@2-2-2013
20782004@unknown@formal@none@1@S@The entire division employs about 850 workers.@@@@1@7@@oe@2-2-2013
20782005@unknown@formal@none@1@S@While the joint venture affects only a small part of Bethlehem's operations, it is significant because it marks the first time the nation's No. 2 steelmaker has joined forces with a foreign partner.@@@@1@33@@oe@2-2-2013
20782006@unknown@formal@none@1@S@Wall Street analysts have criticized Bethlehem for not following its major competitors in linking with a foreign company to share costs and provide technology to modernize old facilities or build new ones.@@@@1@32@@oe@2-2-2013
20782007@unknown@formal@none@1@S@"We think it's a step in the right direction for Bethlehem," said Felix Bello, WEFA Group's international steel analyst.@@@@1@19@@oe@2-2-2013
20782008@unknown@formal@none@1@S@"It's important to share the risk and even more so when the market has already peaked."@@@@1@16@@oe@2-2-2013
20782009@unknown@formal@none@1@S@He said the move could be the beginning of a broader relationship between the two companies, one that could open up new markets for Bethlehem.@@@@1@25@@oe@2-2-2013
20782010@unknown@formal@none@1@S@Bethlehem had little choice but to go with a European steelmaker, because its competitors already have tapped the Japanese and South Korean industry leaders, analysts noted.@@@@1@26@@oe@2-2-2013
20782011@unknown@formal@none@1@S@Under terms of the agreement, Usinor's Chavanne-Ketin unit and Bethlehem would establish a modernized facility to make cast-iron mill rolls at the company's cast-iron shop here.@@@@1@26@@oe@2-2-2013
20782012@unknown@formal@none@1@S@Terms for the venture, which would be jointly owned by both companies, weren't disclosed.@@@@1@14@@oe@2-2-2013
20782013@unknown@formal@none@1@S@The Usinor unit has agreed to provide technology and expertise to install a so-called spin caster by early next fall.@@@@1@20@@oe@2-2-2013
20782014@unknown@formal@none@1@S@The caster improves the metallurgical quality of the iron mill rolls, which are basically huge rolling pins used to flatten or shape steel products.@@@@1@24@@oe@2-2-2013
20782015@unknown@formal@none@1@S@Bethlehem is also working with the United Steelworkers union to consolidate BethForge's two machine shops and four heat-treatment facilities of the press-forge operations.@@@@1@23@@oe@2-2-2013
20782016@unknown@formal@none@1@S@Once the consolidation is complete, Bethlehem plans to concentrate its forgings business on nuclear fabrication, hardened steel and large-diameter steel rolls for rolling mills and selected custom-die applications.@@@@1@28@@oe@2-2-2013
20782017@unknown@formal@none@1@S@Bethlehem said earlier this year that it planned to restructure the BethForge division to improve its cost structure.@@@@1@18@@oe@2-2-2013
20782018@unknown@formal@none@1@S@In the second quarter, Bethlehem posted a $50 million charge related to its plans to realign the division.@@@@1@18@@oe@2-2-2013
20783001@unknown@formal@none@1@S@If you're still wondering about the causes of the slump in the junk-bond market, consider the case of Columbia Savings & Loan.@@@@1@22@@oe@2-2-2013
20783002@unknown@formal@none@1@S@The California thrift has just announced a $226 million third-quarter loss.@@@@1@11@@oe@2-2-2013
20783003@unknown@formal@none@1@S@How did this happen?@@@@1@4@@oe@2-2-2013
20783004@unknown@formal@none@1@S@Well, when Congress in its recent S&L bailout mandated that the thrifts sell off all their junk-bond holdings by 1994, it not only artificially increased the supply of these bonds in the market but also eliminated one of the few profitable investments thrifts have made.@@@@1@45@@oe@2-2-2013
20783005@unknown@formal@none@1@S@But there is a grimly ironic twist to the Columbia loss.@@@@1@11@@oe@2-2-2013
20783006@unknown@formal@none@1@S@As followers of the debate over a capital-gains tax cut know, there is much talk in Congress and indeed all over Washington about the need to "encourage" long-term investment and discourage the financial sector's presumed obsession with the short term.@@@@1@40@@oe@2-2-2013
20783007@unknown@formal@none@1@S@Now, we regard this as a largely phony issue, but the "long term" is nonetheless a big salon topic all around the Beltway.@@@@1@23@@oe@2-2-2013
20783008@unknown@formal@none@1@S@It turns out that Columbia had this huge loss in large part because the new congressionally mandated rules forced it to adjust the book value of its soon-to-be-sold junk bonds to the lower of either their cost or market value.@@@@1@40@@oe@2-2-2013
20783009@unknown@formal@none@1@S@They could no longer be classified as what Columbia regarded them, namely long-term investments.@@@@1@14@@oe@2-2-2013
20783010@unknown@formal@none@1@S@Congress's ham-handed treatment of the existing structure of junk-bond holdings reminds us of a story in the Journal earlier this year about the Baby Bell companies' desire to have the court-ordered bans lifted on offering information services.@@@@1@37@@oe@2-2-2013
20783011@unknown@formal@none@1@S@The issue of seeking relief from Congress was raised to Delbert Staley, the chairman of Nynex.@@@@1@16@@oe@2-2-2013
20783012@unknown@formal@none@1@S@Mr. Staley replied: "Legislation tends to be compromised.@@@@1@8@@oe@2-2-2013
20783013@unknown@formal@none@1@S@I believe we have to take a shot at getting as much done as we can through the court, through Justice and through state and federal regulatory agencies.@@@@1@28@@oe@2-2-2013
20783014@unknown@formal@none@1@S@I see Congress as a last resort."@@@@1@7@@oe@2-2-2013
20783015@unknown@formal@none@1@S@Healthy thrifts such as Columbia or the junk-bond market itself should have been so lucky.@@@@1@15@@oe@2-2-2013
20783016@unknown@formal@none@1@S@The reality of life in modern America is that if you want to wreck something that works, let it fall into the hands of Congress.@@@@1@25@@oe@2-2-2013
20784001@unknown@formal@none@1@S@Exxon Corp. said it will move its headquarters from Manhattan to Dallas.@@@@1@12@@oe@2-2-2013
20784002@unknown@formal@none@1@S@Most of the 300 employees at the oil company's midtown headquarters building -- including much of senior management -- were unaware of the plan until informed at a morning meeting by Chairman Lawrence G. Rawl.@@@@1@35@@oe@2-2-2013
20784003@unknown@formal@none@1@S@The shift won't affect operations.@@@@1@5@@oe@2-2-2013
20784004@unknown@formal@none@1@S@As part of its restructuring several years ago, Exxon moved most of those out of the city and sold its 53-floor Rockefeller Center skyscraper to a Japanese company.@@@@1@28@@oe@2-2-2013
20784005@unknown@formal@none@1@S@But the pullout is an embarrassment to New York City officials, coming at a time of high office building vacancy rates and departures by other major companies.@@@@1@27@@oe@2-2-2013
20784006@unknown@formal@none@1@S@Mobil Corp. is in the process of vacating its headquarters here, and huge operations like J.C. Penney & Co. and Trans World Airlines have recently left.@@@@1@26@@oe@2-2-2013
20784007@unknown@formal@none@1@S@New York authorities, informed yesterday about the move, reacted with concern and even some anger to the idea of the nation's third-largest corporation leaving without giving them an opportunity to accommodate it.@@@@1@32@@oe@2-2-2013
20784008@unknown@formal@none@1@S@"We are dismayed, but there's nothing we can do about it now," said Stanley Grayson, New York City deputy mayor for finance and economic development.@@@@1@25@@oe@2-2-2013
20784009@unknown@formal@none@1@S@Meanwhile, Dallas welcomed the move.@@@@1@5@@oe@2-2-2013
20784010@unknown@formal@none@1@S@City officials there had been were aware that a large company was moving in, but negotiations had all been conducted through a law firm and under the code name "Everglades."@@@@1@30@@oe@2-2-2013
20784011@unknown@formal@none@1@S@"When we were told it was Exxon, it was beyond all expectations; what a coup," said Tom Lewis, senior vice president of Dallas Partnership, the economic development affiliate of the city's Chamber of Commerce.@@@@1@34@@oe@2-2-2013
20784012@unknown@formal@none@1@S@Dallas, its economy based on oil and real estate, has been in a slump.@@@@1@14@@oe@2-2-2013
20784013@unknown@formal@none@1@S@Exxon said it will build a new headquarters on a 132-acre tract in the 10-year-old Las Colinas complex in the suburb of Irving.@@@@1@23@@oe@2-2-2013
20784014@unknown@formal@none@1@S@Until the building is completed, Exxon will rent part of an existing office tower.@@@@1@14@@oe@2-2-2013
20784015@unknown@formal@none@1@S@Las Colinas, once a huge Texas ranch, is a sprawling complex of office buildings, homes and recreational facilities that its developers have been struggling to populate in recent years.@@@@1@29@@oe@2-2-2013
20784016@unknown@formal@none@1@S@Exxon officials said it will cost less to run its headquarters at Las Colinas than in New York.@@@@1@18@@oe@2-2-2013
20784017@unknown@formal@none@1@S@The company won't say how much it will save, but during at its interim location, sources say it will likely pay rent of $10 to $15 per square foot.@@@@1@29@@oe@2-2-2013
20784018@unknown@formal@none@1@S@Owners of the building in New York say they will be asking $50 per square foot for rent to fill the space that Exxon is vacating.@@@@1@26@@oe@2-2-2013
20784019@unknown@formal@none@1@S@In Texas, taxes and development costs are also lower, they said.@@@@1@11@@oe@2-2-2013
20784020@unknown@formal@none@1@S@Plus, one Exxon official said, by eliminating the typically long New York commutes between office and home, management will expect employees to work 40 hours a week in Dallas, rather than a 35-hour work week in New York.@@@@1@38@@oe@2-2-2013
20785001@unknown@formal@none@1@S@Canadian production of market pulp rose 1% in September from a year earlier as the industry operated at 87% of capacity.@@@@1@21@@oe@2-2-2013
20785002@unknown@formal@none@1@S@The Canadian Pulp and Paper Association, an industry group, said Canadian mills produced 532,000 metric tons of market pulp in September, compared with 527,000 metric tons a year earlier.@@@@1@29@@oe@2-2-2013
20785003@unknown@formal@none@1@S@Market pulp is wood pulp sold on the open market to producers of paper and other products.@@@@1@17@@oe@2-2-2013
20785004@unknown@formal@none@1@S@The statistics exclude pulp consumed at the producing mill or shipped to another mill that is affiliated with the producing mill.@@@@1@21@@oe@2-2-2013
20785005@unknown@formal@none@1@S@Canada is the world's largest producer of market pulp.@@@@1@9@@oe@2-2-2013
20785006@unknown@formal@none@1@S@The September 87% operating rate compared with a rate of 101% in August but was unchanged from a year earlier.@@@@1@20@@oe@2-2-2013
20785007@unknown@formal@none@1@S@In the first nine months of this year output was 5,377,000 metric tons, down from 5,441,000 metric tons a year earlier.@@@@1@21@@oe@2-2-2013
20786001@unknown@formal@none@1@S@IMA Holdings Corp. completed its $3 billion acquisition of American Medical International Inc., purchasing 63 million shares, or 86%, of the Los Angeles-based health-care services concern for $26.50 a share.@@@@1@30@@oe@2-2-2013
20786002@unknown@formal@none@1@S@The price also includes assumption of about $1.4 billion in debt.@@@@1@11@@oe@2-2-2013
20786003@unknown@formal@none@1@S@IMA is a group that includes First Boston Corp. and the Pritzker family of Chicago through the leveraged buy-out fund Harry Gray Melvyn Klein & Partners.@@@@1@26@@oe@2-2-2013
20786004@unknown@formal@none@1@S@Harry J. Gray and Melvyn N. Klein, along with five other IMA designees, were named to join American Medical's 10-member board.@@@@1@21@@oe@2-2-2013
20786005@unknown@formal@none@1@S@The completion of the merger agreement follows months of twists and turns.@@@@1@12@@oe@2-2-2013
20786006@unknown@formal@none@1@S@In January, American Medical brought in a new chief executive officer, Richard A. Gilleland, 45, who will remain as chairman, president and chief executive.@@@@1@24@@oe@2-2-2013
20786007@unknown@formal@none@1@S@A few days later, American Medical announced sharply lower earnings, taking charges of $24 million for insurance reserves and canceled real estate leases.@@@@1@23@@oe@2-2-2013
20786008@unknown@formal@none@1@S@In March, American Medical received a $24-a-share offer to take the company private from an investor group including large holder M. Lee Pearce.@@@@1@23@@oe@2-2-2013
20786009@unknown@formal@none@1@S@It also was considering a restructuring to help boost the stock price.@@@@1@12@@oe@2-2-2013
20786010@unknown@formal@none@1@S@A group including several members of the the Bass family of Texas urged the company to take some steps to maximize shareholder value.@@@@1@23@@oe@2-2-2013
20786011@unknown@formal@none@1@S@The following month, the company put itself up for sale.@@@@1@10@@oe@2-2-2013
20786012@unknown@formal@none@1@S@It received more offers, but the auction was surprisingly won by IMA, which bid $28 a share and asked Mr. Gilleland to stay on as an equity participant.@@@@1@28@@oe@2-2-2013
20786013@unknown@formal@none@1@S@He indicated that some assets might be sold off to service the debt.@@@@1@13@@oe@2-2-2013
20786014@unknown@formal@none@1@S@Then, after extending its offer four times waiting for a congressional tax ruling, IMA early this month lowered its offer to $26.50 a share amid turbulence in the junk bond market.@@@@1@31@@oe@2-2-2013
20786015@unknown@formal@none@1@S@American Medical accepted the offer, meanwhile indicating it had heard from two other suitors.@@@@1@14@@oe@2-2-2013
20786016@unknown@formal@none@1@S@But they never materialized and IMA completed the purchase yesterday.@@@@1@10@@oe@2-2-2013
20786017@unknown@formal@none@1@S@Other new board members include John S. Harrison and Mark A. Adley of First Boston, James F. Lyons, William S. Goldberg and Harold S. Handelsman.@@@@1@25@@oe@2-2-2013
20787001@unknown@formal@none@1@S@Treasury Secretary Nicholas Brady said that Congress should grant the Securities and Exchange Commission the power to close the stock markets in periods of crisis.@@@@1@25@@oe@2-2-2013
20787002@unknown@formal@none@1@S@In testimony to the Senate securities subcommittee, Mr. Brady disputed the view of SEC Chairman Richard Breeden, who told a House panel Wednesday that he doesn't want the ability to halt the markets.@@@@1@33@@oe@2-2-2013
20787003@unknown@formal@none@1@S@Mr. Breeden contended that discretionary power could have an impact on the markets if rumors were to circulate about when the exchanges might be closed.@@@@1@25@@oe@2-2-2013
20787004@unknown@formal@none@1@S@He added that the president already has the power to close the markets in an emergency.@@@@1@16@@oe@2-2-2013
20787005@unknown@formal@none@1@S@But Mr. Brady argued that the SEC is closer to the markets and in a better position to understand when the exchanges are under such stress that they should be closed.@@@@1@31@@oe@2-2-2013
20787006@unknown@formal@none@1@S@Separately, Mr. Brady said he asked the Working Group on Financial Markets to determine whether futures margins are too low.@@@@1@20@@oe@2-2-2013
20787007@unknown@formal@none@1@S@He noted that some minimum margin requirements have been reduced to levels below those before the 1987 crash.@@@@1@18@@oe@2-2-2013
20787008@unknown@formal@none@1@S@"This raises questions whether futures and equity margin requirements are consistent at these levels and whether futures margins are adequate," Mr. Brady said.@@@@1@23@@oe@2-2-2013
20787009@unknown@formal@none@1@S@Margins are the amount of money an investor needs to put up to buy or sell a futures contract.@@@@1@19@@oe@2-2-2013
20787010@unknown@formal@none@1@S@Margins on the futures exchanges typically are raised and lowered according to market volatility.@@@@1@14@@oe@2-2-2013
20787011@unknown@formal@none@1@S@The Chicago Mercantile Exchange margins for the Standard & Poor's 500 stock-index futures stood at $10,000 a contract for speculators and $5,000 for hedgers before Oct. 16, 1987; that day the hedging margin was raised to $7,500.@@@@1@37@@oe@2-2-2013
20787012@unknown@formal@none@1@S@Margins were raised or lowered about a dozen times since the crash Oct. 19, 1987.@@@@1@15@@oe@2-2-2013
20787013@unknown@formal@none@1@S@Currently, they stand at $12,000 for speculators, who are typically individuals and non-member traders, and $6,000 for hedgers, which are usually institutions and have offsetting positions in the underlying stocks.@@@@1@30@@oe@2-2-2013
20787014@unknown@formal@none@1@S@Mr. Brady also said he expects the leveraged buy-out phenomenon to "end under (its) own weight."@@@@1@16@@oe@2-2-2013
20787015@unknown@formal@none@1@S@Asked whether there is anything Congress should do to curb the LBO boom, Mr. Brady responded, "I think the LBO phenomenon, (while) it won't stop completely, will be a thing of the past."@@@@1@33@@oe@2-2-2013
20787016@unknown@formal@none@1@S@Before taking any action, he advised the panel to "see what the market has produced as a cure."@@@@1@18@@oe@2-2-2013
20787017@unknown@formal@none@1@S@Mr. Brady also agreed with senators' concerns about recent stock-market volatility, and said he realizes that the gyrations are scaring investors from investing in stocks.@@@@1@25@@oe@2-2-2013
20787018@unknown@formal@none@1@S@But he added that individuals still are participating in the equity market indirectly through mutual funds and pension funds.@@@@1@19@@oe@2-2-2013
20787019@unknown@formal@none@1@S@The former Wall Street executive refused to offer an opinion on the controversy surrounding program trading, which has recently become a larger part of the trading in the market and has been blamed for accelerating the drop two weeks ago.@@@@1@40@@oe@2-2-2013
20787020@unknown@formal@none@1@S@"I do not have a view of whether we should do anything about program trading at this time," he said.@@@@1@20@@oe@2-2-2013
20787021@unknown@formal@none@1@S@But Mr. Brady endorsed the market-revision bill that both houses of Congress will try to push through this session.@@@@1@19@@oe@2-2-2013
20787022@unknown@formal@none@1@S@That bill, proposed by the SEC last year, would require brokerage firms to disclose the financial positions of their holding companies, mandate large traders' reporting of program or block trades, and improve clearing and settlement of trades between the futures and stock markets.@@@@1@43@@oe@2-2-2013
20787023@unknown@formal@none@1@S@The bill also would give the SEC the power to close the markets, a discretion that former SEC Chairman David Ruder wanted but Mr. Breeden doesn't.@@@@1@26@@oe@2-2-2013
20787024@unknown@formal@none@1@S@Mr. Brady and senators agreed to have their staffs meet within the next week to start fine-tuning the bill.@@@@1@19@@oe@2-2-2013
20788001@unknown@formal@none@1@S@The Senate Agriculture Committee is responding to trading abuses in the futures markets with a far-reaching bill that would become the Futures Trading Practices Act of 1989.@@@@1@27@@oe@2-2-2013
20788002@unknown@formal@none@1@S@The proposed legislation has a laudable goal: to assure the integrity of the U.S. futures markets.@@@@1@16@@oe@2-2-2013
20788003@unknown@formal@none@1@S@However, as is common with sweeping legislation, the proposal contains many provisions that could destroy important parts of the system it sets out to preserve.@@@@1@25@@oe@2-2-2013
20788004@unknown@formal@none@1@S@The complex bill, introduced by Sens. Patrick Leahy (D., Vt.), Richard Lugar (R., Ind.), and Bob Kerrey (D., Neb.), covers a wide range of provisions that would affect the funding and authority of the Commodity Futures Trading Commission and would profoundly change the way the industry is regulated.@@@@1@48@@oe@2-2-2013
20788005@unknown@formal@none@1@S@These include provisions relating to the technology and systems that must be employed by exchanges, oversight and disciplinary procedures for exchange trading practices, the relationship between commodity brokerage firms and floor traders, and exchange governance.@@@@1@35@@oe@2-2-2013
20788006@unknown@formal@none@1@S@The bill also elevates even minor rule infractions to felonies and provides for recovery of punitive damages in civil lawsuits and arbitration cases without any showing of willful misconduct.@@@@1@29@@oe@2-2-2013
20788007@unknown@formal@none@1@S@Many aspects of the bill are salutary, providing appropriate public safeguards that can and should be instituted throughout the industry.@@@@1@20@@oe@2-2-2013
20788008@unknown@formal@none@1@S@Indeed, some of the bill's requirements, including broad representation on the exchanges' boards of directors and strong measures to prevent conflicts of interest, already have been put in place by the Coffee, Sugar & Cocoa Exchange and other futures exchanges.@@@@1@40@@oe@2-2-2013
20788009@unknown@formal@none@1@S@Other aspects of the bill, however, are either structured in ways that create unnecessary burdens for the industry or actually are harmful to the exchanges, the industry and ultimately the general public.@@@@1@32@@oe@2-2-2013
20788010@unknown@formal@none@1@S@One of the most prominent features is the requirement that in three years all exchanges have in place a system that records all trades by a source independent of the executing broker.@@@@1@32@@oe@2-2-2013
20788011@unknown@formal@none@1@S@The New York futures exchanges have been working together to develop a trade recording system much like the one called for in the bill.@@@@1@24@@oe@2-2-2013
20788012@unknown@formal@none@1@S@We would be delighted to have such a system in place today.@@@@1@12@@oe@2-2-2013
20788013@unknown@formal@none@1@S@But is it realistic for Congress to mandate by a rigid deadline a system that has not yet been subjected to feasibility studies?@@@@1@23@@oe@2-2-2013
20788014@unknown@formal@none@1@S@What if the system doesn't work?@@@@1@6@@oe@2-2-2013
20788015@unknown@formal@none@1@S@What if the only system that does work is so expensive that, at best, only the largest exchanges can afford it?@@@@1@21@@oe@2-2-2013
20788016@unknown@formal@none@1@S@Cost is a key consideration because of the global sweep of the financial markets.@@@@1@14@@oe@2-2-2013
20788017@unknown@formal@none@1@S@The U.S. futures exchanges compete world-wide as never before.@@@@1@9@@oe@2-2-2013
20788018@unknown@formal@none@1@S@Today, trading in almost any commodity can be diverted from U.S. markets with just a few strokes of a keyboard.@@@@1@20@@oe@2-2-2013
20788019@unknown@formal@none@1@S@All foreign markets are aggressively courting U.S. business.@@@@1@8@@oe@2-2-2013
20788020@unknown@formal@none@1@S@In fact, several London markets already offer lower costs for trading in the same or very similar contracts.@@@@1@18@@oe@2-2-2013
20788021@unknown@formal@none@1@S@The U.S. exchanges need both market integrity and cost-efficiency; long-term growth depends on it.@@@@1@14@@oe@2-2-2013
20788022@unknown@formal@none@1@S@The Senate bill contains many provisions that will increase the costs of trading.@@@@1@13@@oe@2-2-2013
20788023@unknown@formal@none@1@S@The most arbitrary of these is the imposition of "service fees," which will directly widen the cost spread between U.S. and foreign markets.@@@@1@23@@oe@2-2-2013
20788024@unknown@formal@none@1@S@Other provisions have a more subtle, but nonetheless real and detrimental effect on the international position of U.S. exchanges.@@@@1@19@@oe@2-2-2013
20788025@unknown@formal@none@1@S@These include the extension of liability into areas beyond those established by judicial precedent and the expansion of liability to include punitive damages.@@@@1@23@@oe@2-2-2013
20788026@unknown@formal@none@1@S@In addition to increasing costs as a result of greater financial exposure for members, these measures could have other, far-reaching repercussions.@@@@1@21@@oe@2-2-2013
20788027@unknown@formal@none@1@S@One section of the bill would make all commodity brokerage firms and floor brokers liable for damages without willful misconduct.@@@@1@20@@oe@2-2-2013
20788028@unknown@formal@none@1@S@Nowhere in the federal securities law is simple negligence or inadvertent action a source of liability under similar circumstances.@@@@1@19@@oe@2-2-2013
20788029@unknown@formal@none@1@S@It is only logical to assume that the enactment of this provision will lead to increased litigation.@@@@1@17@@oe@2-2-2013
20788030@unknown@formal@none@1@S@In an already low-profitmargin business, commodity brokerage firms may well decide to eliminate the risk and expense of dealing with the retail public, depriving the private individual of access to the markets.@@@@1@32@@oe@2-2-2013
20788031@unknown@formal@none@1@S@Another measure makes commodity brokerage firms liable for violations committed by independent floor brokers who execute trades for them.@@@@1@19@@oe@2-2-2013
20788032@unknown@formal@none@1@S@This untried concept would expose these firms to potentially astronomical punitive damages.@@@@1@12@@oe@2-2-2013
20788033@unknown@formal@none@1@S@Faced with the virtually impossible task of supervising the execution of each trade, many commodity brokerage firms are likely to stop doing business with independents and instead hire their own salaried floor brokers.@@@@1@33@@oe@2-2-2013
20788034@unknown@formal@none@1@S@This would force out of business many of the individuals and small firms that function as floor brokers.@@@@1@18@@oe@2-2-2013
20788035@unknown@formal@none@1@S@A consequence of their departure could be a serious diminution of market liquidity.@@@@1@13@@oe@2-2-2013
20788036@unknown@formal@none@1@S@Finally, under the bill, a number of legitimate, longstanding business practices would be arbitrarily banned, unless the CFTC were to take specific and timely action to permit them to continue.@@@@1@30@@oe@2-2-2013
20788037@unknown@formal@none@1@S@In other words, regulation will occur through inaction and happenstance, rather than through a normal deliberative procedure.@@@@1@17@@oe@2-2-2013
20788038@unknown@formal@none@1@S@The affected practices include the placing of oral orders, which is the way most public customer orders are placed, and trading between affiliated brokers, even though in some cases trading with affiliates may be the only way to obtain the best execution for a client.@@@@1@45@@oe@2-2-2013
20788039@unknown@formal@none@1@S@Also precluded would be dual trading, whereby a broker trades for customers as well as his own account, a practice that provides needed liquidity to the markets.@@@@1@27@@oe@2-2-2013
20788040@unknown@formal@none@1@S@All U.S. futures exchanges agree that these and other trading practices require proper regulation and supervision.@@@@1@16@@oe@2-2-2013
20788041@unknown@formal@none@1@S@Nonetheless, each has too much potential value to the system to be banned by legislative fiat before the CFTC carefully considers all the consequences of a ban and what the regulatory alternatives are.@@@@1@33@@oe@2-2-2013
20788042@unknown@formal@none@1@S@The markets are complex, as is the environment in which they function.@@@@1@12@@oe@2-2-2013
20788043@unknown@formal@none@1@S@When problems surface, the temptation becomes strong to summarily overhaul a market system that has served for more than 100 years.@@@@1@21@@oe@2-2-2013
20788044@unknown@formal@none@1@S@That temptation must be put aside to permit careful consideration of all the implications, positive and negative, of the proposed resolutions to those problems, and to avoid creating a marketplace where no one trades.@@@@1@34@@oe@2-2-2013
20788045@unknown@formal@none@1@S@Mr. Nastro is chairman of the Coffee, Sugar & Cocoa Exchange in New York and director of commodity administration at Shearson Lehman Hutton.@@@@1@23@@oe@2-2-2013
20789001@unknown@formal@none@1@S@Initial claims for state unemployment benefits fell to a seasonally adjusted 332,000 for the week ended Oct. 14 from 396,000 the previous week, the Labor Department said.@@@@1@27@@oe@2-2-2013
20789002@unknown@formal@none@1@S@The number of people receiving state benefits in the week ended Oct. 7 fell to a seasonally adjusted 2,202,000, or 2.1% of those covered by unemployment insurance, from 2,205,000 the previous week, when the insured unemployment rate was 2.2%.@@@@1@39@@oe@2-2-2013
20789003@unknown@formal@none@1@S@Counting all state and federal benefit programs, the number of people receiving unemployment benefits in the week ended Oct. 7 fell to 1,784,400 from 1,810,700 a week earlier.@@@@1@28@@oe@2-2-2013
20789004@unknown@formal@none@1@S@These figures aren't seasonally adjusted.@@@@1@5@@oe@2-2-2013
20790001@unknown@formal@none@1@S@On the hungry streets of Naguib Mahfouz's Cairo, life is nasty, brutish and wickedly entertaining.@@@@1@15@@oe@2-2-2013
20790002@unknown@formal@none@1@S@Zaita the "cripple-maker" rearranges the limbs of aspiring beggars -- and takes a cut of every cent they cadge.@@@@1@19@@oe@2-2-2013
20790003@unknown@formal@none@1@S@Hassan Kamel Ali is a card shark and dope dealer who has a simple creed: "I live in this world, assuming that there is no morality, God or police."@@@@1@29@@oe@2-2-2013
20790004@unknown@formal@none@1@S@For the killer and thief, Said Mahran, fame flows from the barrel of a gun.@@@@1@15@@oe@2-2-2013
20790005@unknown@formal@none@1@S@"One man said you act as a stimulant," a prostitute tells him, "a diversion to relieve people's boredom."@@@@1@18@@oe@2-2-2013
20790006@unknown@formal@none@1@S@Mr. Mahfouz's Cairo also has Sufi sheiks and saintly wives who look to God, not crime, for their salvation.@@@@1@19@@oe@2-2-2013
20790007@unknown@formal@none@1@S@But it is his portrait of Cairo low-life -- of charlatans and opium addicts, of streets filled with "dust, vegetable litter, and animal dung" -- that made his reputation, and won him the Nobel Prize in 1988.@@@@1@37@@oe@2-2-2013
20790008@unknown@formal@none@1@S@Three novels, "The Beginning and the End" (412 pages, $19.95), "The Thief and the Dogs" (158 pages, $16.95), and "Wedding Song" (174 pages, $16.95), recently published by Doubleday offer an uneven sample of the 77-year-old Mr. Mahfouz's talent.@@@@1@38@@oe@2-2-2013
20790009@unknown@formal@none@1@S@But they do show the range of a restless intellect whose 30-odd novels span five decades and include work of social realism, protest and allegory.@@@@1@25@@oe@2-2-2013
20790010@unknown@formal@none@1@S@They also chart the evolution of a city that has grown tenfold in the author's lifetime, from a colonial outpost of fez-wearing pashas to a Third World slum choking on its own refuse.@@@@1@33@@oe@2-2-2013
20790011@unknown@formal@none@1@S@"Soon it'll be so crowded," a narrator complains, "that people will start eating each other."@@@@1@15@@oe@2-2-2013
20790012@unknown@formal@none@1@S@"The Beginning and the End," easily the best of the three, belongs to Mr. Mahfouz's "realistic" period and it is the one for which he is most renowned.@@@@1@28@@oe@2-2-2013
20790013@unknown@formal@none@1@S@Published in 1949, it follows the decline of a Cairo family with the saga-like sweep and rich detail that critics often compare to Dickens, Balzac and Galsworthy.@@@@1@27@@oe@2-2-2013
20790014@unknown@formal@none@1@S@A minor bureaucrat dies suddenly, dooming his family to poverty and eventual disgrace.@@@@1@13@@oe@2-2-2013
20790015@unknown@formal@none@1@S@His daughter turns to dressmaking, then to peddling herself for a few piasters.@@@@1@13@@oe@2-2-2013
20790016@unknown@formal@none@1@S@One son sacrifices his own career so that his avaricious brother can succeed, while another helps support the family with money siphoned from crime.@@@@1@24@@oe@2-2-2013
20790017@unknown@formal@none@1@S@The real tragedy, though, lies not in the family's circumstances but in its concern for appearances.@@@@1@16@@oe@2-2-2013
20790018@unknown@formal@none@1@S@Mourning for the father is overshadowed by the shame of burying him in a pauper's grave.@@@@1@16@@oe@2-2-2013
20790019@unknown@formal@none@1@S@The family moves to another house at night to conceal shabby belongings from neighbors.@@@@1@14@@oe@2-2-2013
20790020@unknown@formal@none@1@S@And the successful son wishes his embarrassing siblings dead.@@@@1@9@@oe@2-2-2013
20790021@unknown@formal@none@1@S@As a critique of middle-class mores, the story is heavy-handed.@@@@1@10@@oe@2-2-2013
20790022@unknown@formal@none@1@S@But its unsentimental sketches of Cairo life are vintage Mahfouz.@@@@1@10@@oe@2-2-2013
20790023@unknown@formal@none@1@S@We see, smell and hear slums filled with "the echoes of hawkers advertising their wares interspersed with abusive language, rattling coughs and the sound of people gathering spittle in their throats and spewing into the street."@@@@1@36@@oe@2-2-2013
20790024@unknown@formal@none@1@S@And we meet engaging crooks, such as Hassan "the Head," famed for his head-butting fights, his whoring and his hashish.@@@@1@20@@oe@2-2-2013
20790025@unknown@formal@none@1@S@"`God has not yet ordained that I should have earnings,' he tells his worried mother."@@@@1@15@@oe@2-2-2013
20790026@unknown@formal@none@1@S@Hassan comes to a bad end, but so does almost everyone else in the book.@@@@1@15@@oe@2-2-2013
20790027@unknown@formal@none@1@S@If the setting is exotic, the prose is closer to Balzac's "Pere Goriot" than it is to "Arabian Nights."@@@@1@19@@oe@2-2-2013
20790028@unknown@formal@none@1@S@Mr. Mahfouz began writing when there was no novelistic tradition in Arabic, and he modeled his work on Western classics.@@@@1@20@@oe@2-2-2013
20790029@unknown@formal@none@1@S@In one sense, this limits him; unlike a writer such as Gabriel Garcia Marquez, who has a distinctive Latin voice, Mr. Mahfouz's style offers little that can be labeled "Egyptian."@@@@1@30@@oe@2-2-2013
20790030@unknown@formal@none@1@S@But the familiarity of his style also makes his work accessible, as the streets of Cairo come alive for the Western reader as vividly as Dickens's London or Dostoevski's St. Petersburg.@@@@1@31@@oe@2-2-2013
20790031@unknown@formal@none@1@S@"The Thief and the Dogs," written in 1961, is a taut, psychological drama, reminiscent of "Crime and Punishment."@@@@1@18@@oe@2-2-2013
20790032@unknown@formal@none@1@S@Its antihero, Said Mahran, is an Egyptian Raskolnikov who seeks nobility in robbing and killing.@@@@1@15@@oe@2-2-2013
20790033@unknown@formal@none@1@S@"I am the hope and the dream, the redemption of cowards," he says in one of many interior monologues.@@@@1@19@@oe@2-2-2013
20790034@unknown@formal@none@1@S@Later, he recalls the words of his Marxist mentor: "The people! Theft! The holy fire!"@@@@1@15@@oe@2-2-2013
20790035@unknown@formal@none@1@S@Said's story reflects the souring of socialism under Nasser, whose dictatorial rule replaced the monarchy overthrown in 1952.@@@@1@18@@oe@2-2-2013
20790036@unknown@formal@none@1@S@By 1961, Mr. Mahfouz's idealism had vanished or become twisted, as it has in Said.@@@@1@15@@oe@2-2-2013
20790037@unknown@formal@none@1@S@His giddy dream of redeeming a life of "badly aimed bullets" by punishing the "real robbers" -- the rich "dogs" who prey on the poor -- leads only to the death of innocents, and eventually to his own.@@@@1@38@@oe@2-2-2013
20790038@unknown@formal@none@1@S@Cairo's spirited squalor also has gone gray.@@@@1@7@@oe@2-2-2013
20790039@unknown@formal@none@1@S@Here, the city is dark and laden with symbolism: Said has left his jail cell only to enter the larger prison of Cairo society.@@@@1@24@@oe@2-2-2013
20790040@unknown@formal@none@1@S@While the theme is compelling, the plot and characters are not.@@@@1@11@@oe@2-2-2013
20790041@unknown@formal@none@1@S@We never care about Said or the "hypocrites" he hunts.@@@@1@10@@oe@2-2-2013
20790042@unknown@formal@none@1@S@"The Thief and the Dogs" is a pioneering work, the first stream-of-consciousness novel in Arabic, but it is likely to disappoint Western readers.@@@@1@23@@oe@2-2-2013
20790043@unknown@formal@none@1@S@The 1981 novel "Wedding Song" also is experimental, and another badly aimed bullet.@@@@1@13@@oe@2-2-2013
20790044@unknown@formal@none@1@S@The story of a playwright's stage debut unfolds in first-person monologues, in the manner of Faulkner's "The Sound and the Fury."@@@@1@21@@oe@2-2-2013
20790045@unknown@formal@none@1@S@But the device obscures more than it illuminates.@@@@1@8@@oe@2-2-2013
20790046@unknown@formal@none@1@S@Buried in the work is a meditation on the morality of art, and on the struggle for integrity in an unfair world.@@@@1@22@@oe@2-2-2013
20790047@unknown@formal@none@1@S@But again, the themes get tangled in Mr. Mahfouz's elliptical storytelling.@@@@1@11@@oe@2-2-2013
20790048@unknown@formal@none@1@S@The indirectness of his later work reflects both an appetite for new genres and the hazards of art in the Arab world.@@@@1@22@@oe@2-2-2013
20790049@unknown@formal@none@1@S@Mr. Mahfouz has been pilloried and censored for questioning Islam and advocating peace with Israel.@@@@1@15@@oe@2-2-2013
20790050@unknown@formal@none@1@S@Veiling his message has helped him endure.@@@@1@7@@oe@2-2-2013
20790051@unknown@formal@none@1@S@Art, says the playwright in "Wedding Song," is "the surrogate for the action that an idealist like me is unable to take."@@@@1@22@@oe@2-2-2013
20790052@unknown@formal@none@1@S@"Wedding Song" gives glimpses of a Cairo that has become so much harsher since his youth, when, as he once said, "the poorest person was able to find his daily bread and without great difficulty."@@@@1@35@@oe@2-2-2013
20790053@unknown@formal@none@1@S@The clutter of the 1940s remains, but its color has drained away, and the will to overcome has been defeated.@@@@1@20@@oe@2-2-2013
20790054@unknown@formal@none@1@S@Cars can't move because of overflowing sewers.@@@@1@7@@oe@2-2-2013
20790055@unknown@formal@none@1@S@Characters complain ceaselessly about food queues, prices and corruption.@@@@1@9@@oe@2-2-2013
20790056@unknown@formal@none@1@S@And the ubiquitous opium addict is now a cynical and selfish man who gripes: "Only government ministers can afford it these days!"@@@@1@22@@oe@2-2-2013
20790057@unknown@formal@none@1@S@Having lost their faith in God, in social reform and in opium, Cairenes are left with nothing but their sense of humor.@@@@1@22@@oe@2-2-2013
20790058@unknown@formal@none@1@S@Mr. Horwitz is a Journal staff reporter covering the Middle East.@@@@1@11@@oe@2-2-2013
20791001@unknown@formal@none@1@S@Norwood Partners Limited Partnership of Boston said it may make a tender offer for some or all of Phoenix Technologies Ltd.'s common shares.@@@@1@23@@oe@2-2-2013
20791002@unknown@formal@none@1@S@Norwood, Mass.-based Phoenix, a once-high-flying maker of software for personal computers, has had substantial losses in the past two quarters.@@@@1@20@@oe@2-2-2013
20791003@unknown@formal@none@1@S@Its stock, which was as high as $18.75 a share, has been trading under $4 a share recently.@@@@1@18@@oe@2-2-2013
20791004@unknown@formal@none@1@S@Yesterday it closed at $4.375 a share, up $1.125, in national over-the-counter trading.@@@@1@13@@oe@2-2-2013
20791005@unknown@formal@none@1@S@In a Securities and Exchange Commission filing, Norwood said it's part of a group that holds 525,546 Phoenix Technologies common shares, or a 5.3% stake.@@@@1@25@@oe@2-2-2013
20791006@unknown@formal@none@1@S@Norwood has made "no detailed plans," but it has engaged in talks with other shareholders, the filing said.@@@@1@18@@oe@2-2-2013
20791007@unknown@formal@none@1@S@Phoenix declined to comment.@@@@1@4@@oe@2-2-2013
20791008@unknown@formal@none@1@S@Norwood is controlled by Daniel L. Barnett and Paul A. Reese, both officers of Boston-based Oasis Capital Management Inc., a small Boston money management firm.@@@@1@25@@oe@2-2-2013
20791009@unknown@formal@none@1@S@Also involved in the group is Robert F. Angelo, formerly Phoenix's senior vice president, field operations, who left Phoenix at the beginning of October.@@@@1@24@@oe@2-2-2013
20791010@unknown@formal@none@1@S@Mr. Angelo was described in the filing as a consultant to Oasis.@@@@1@12@@oe@2-2-2013
20792001@unknown@formal@none@1@S@Weirton Steel Corp. said it reached a tentative agreement on a 48-month labor contract with the Independent Steelworkers Union covering production and maintenance employees.@@@@1@24@@oe@2-2-2013
20792002@unknown@formal@none@1@S@The agreement, subject to approval of union members, would cover about 6,000 workers.@@@@1@13@@oe@2-2-2013
20792003@unknown@formal@none@1@S@The tentative agreement provides for wage increases of 85 cents an hour retroactive to Sept. 25, 1989, and for increases of 19 cents, 70 cents and 35 cents an hour effective Jan. 1, 1991, 1992 and 1993, respectively.@@@@1@38@@oe@2-2-2013
20792004@unknown@formal@none@1@S@It also provides for benefit adjustments, including a partial restoration of vacations and holidays, as well as work-rule changes to increase productivity.@@@@1@22@@oe@2-2-2013
20793001@unknown@formal@none@1@S@Ground zero of the HUD scandal is the Secretary's "discretionary fund," a honey pot used to fund projects that weren't approved through normal HUD channels.@@@@1@25@@oe@2-2-2013
20793002@unknown@formal@none@1@S@Jack Kemp wants to abolish it.@@@@1@6@@oe@2-2-2013
20793003@unknown@formal@none@1@S@Instead, Congress's idea of reform is to increase this slush fund by $28.4 million.@@@@1@14@@oe@2-2-2013
20793004@unknown@formal@none@1@S@And transfer control of much of it to Capitol Hill.@@@@1@10@@oe@2-2-2013
20793005@unknown@formal@none@1@S@The HUD scandals will simply continue, but under new mismanagement.@@@@1@10@@oe@2-2-2013
20793006@unknown@formal@none@1@S@After one of the most amazing debates we've ever seen on the cable channel C-SPAN, the House voted 250 to 170 on Wednesday to order $28.4 million in spending for a New Jersey arts center, a Michigan library and 38 other pet projects out of the same discretionary fund that was supposed to have been so abused during Sam Pierce's tenure.@@@@1@61@@oe@2-2-2013
20793007@unknown@formal@none@1@S@HUD has no paper work whatsoever on 30 of the projects, none of the others has been approved and not a single congressional hearing has been held on any of them.@@@@1@31@@oe@2-2-2013
20793008@unknown@formal@none@1@S@However, four are in the Michigan district of Rep. Bob Traxler, the chairman of the House subcommittee that writes the HUD spending bill.@@@@1@23@@oe@2-2-2013
20793009@unknown@formal@none@1@S@Of course, this kind of blatant congressional pork-barreling is called "constituent service" by Members, while the same kind of noncompetitive favoritism at HUD is labeled "influence peddling."@@@@1@27@@oe@2-2-2013
20793010@unknown@formal@none@1@S@Unlike those awful Republican consultants, Members don't profit directly from HUD projects.@@@@1@12@@oe@2-2-2013
20793011@unknown@formal@none@1@S@They merely collect campaign contributions from developers that help keep them in office.@@@@1@13@@oe@2-2-2013
20793012@unknown@formal@none@1@S@The 40 pet projects were discovered buried in the appropriations bill for HUD and some other agencies after it returned from a conference committee that was called to resolve differences between the House and Senate versions.@@@@1@36@@oe@2-2-2013
20793013@unknown@formal@none@1@S@Conference committees are breeding grounds for mischief.@@@@1@7@@oe@2-2-2013
20793014@unknown@formal@none@1@S@They are often closed to the public and no minutes are taken.@@@@1@12@@oe@2-2-2013
20793015@unknown@formal@none@1@S@Members find it easy to doctor legislation by slipping in special provisions that could never survive in the cold light of day.@@@@1@22@@oe@2-2-2013
20793016@unknown@formal@none@1@S@In this case, the Members outdid themselves.@@@@1@7@@oe@2-2-2013
20793017@unknown@formal@none@1@S@They transferred some $28 million from the Community Development Block Grant program designated largely for low- and moderate-income projects and funneled it into such items as: -- $1.2 million for a performing-arts center in Newark, -- $1.3 million for "job retention" in Hawaiian sugar mills. -- $400,000 for a collapsing utility tunnel in Salisbury, -- $500,000 for "equipment and landscaping to deter crime and aid police surveillance" at a Michigan park. -- $450,000 for "integrated urban data based in seven cities." No other details. -- $390,000 for a library and recreation center at Mackinac Island, Mich.@@@@1@96@@oe@2-2-2013
20793018@unknown@formal@none@1@S@Rep. Traxler recently purchased an unimproved building lot on the island.@@@@1@11@@oe@2-2-2013
20794001@unknown@formal@none@1@S@This is slightly adapted from remarks Oct. 7 by former Secretary of State George P. Shultz to an alumni gathering at the Stanford Business School, where he has returned to the faculty:@@@@1@32@@oe@2-2-2013
20794002@unknown@formal@none@1@S@I was struck a couple of years ago by the drug-interdiction effort in the Bahamas.@@@@1@15@@oe@2-2-2013
20794003@unknown@formal@none@1@S@We had intercepted during the year an estimated $5 billion street value of cocaine.@@@@1@14@@oe@2-2-2013
20794004@unknown@formal@none@1@S@I don't know how much got through.@@@@1@7@@oe@2-2-2013
20794005@unknown@formal@none@1@S@Nobody has any credible estimate.@@@@1@5@@oe@2-2-2013
20794006@unknown@formal@none@1@S@The GNP of the Bahamas is probably somewhere between one and two billion dollars.@@@@1@14@@oe@2-2-2013
20794007@unknown@formal@none@1@S@So you get an idea of the leverage there and elsewhere that our market for drugs has brought about.@@@@1@19@@oe@2-2-2013
20794008@unknown@formal@none@1@S@I welcome the emphasis that is now being put on the drug problem.@@@@1@13@@oe@2-2-2013
20794009@unknown@formal@none@1@S@The efforts to get to the people who are addicted, try to rehabilitate them; if they cannot be rehabilitated, at least to contain them; to educate people, to strongly discourage use of drugs by people who are casual users and first users, to stop this process among the young -- all of these things I think are extremely important.@@@@1@59@@oe@2-2-2013
20794010@unknown@formal@none@1@S@But, I have to tell you that it seems to me that the conceptual base of the current program is flawed and the program is not likely to work.@@@@1@29@@oe@2-2-2013
20794011@unknown@formal@none@1@S@The conceptual base -- a criminal-justice approach -- is the same that I have worked through before, in the Nixon administration when I was budget director and secretary of the treasury with jurisdiction over the Customs.@@@@1@36@@oe@2-2-2013
20794012@unknown@formal@none@1@S@We designed a comprehensive program, and we worked hard on it.@@@@1@11@@oe@2-2-2013
20794013@unknown@formal@none@1@S@In the Reagan administration we designed a comprehensive program; we worked very hard on it.@@@@1@15@@oe@2-2-2013
20794014@unknown@formal@none@1@S@Our international efforts were far greater than ever before.@@@@1@9@@oe@2-2-2013
20794015@unknown@formal@none@1@S@You're looking at a guy whose motorcade was attacked in Bolivia by the drug terrorists, so I'm personally a veteran of this war.@@@@1@23@@oe@2-2-2013
20794016@unknown@formal@none@1@S@What we have before us now is essentially the same program but with more resources plowed into all of the efforts to enforce and control.@@@@1@25@@oe@2-2-2013
20794017@unknown@formal@none@1@S@These efforts wind up creating a market where the price vastly exceeds the cost.@@@@1@14@@oe@2-2-2013
20794018@unknown@formal@none@1@S@With these incentives, demand creates its own supply and a criminal network along with it.@@@@1@15@@oe@2-2-2013
20794019@unknown@formal@none@1@S@It seems to me we're not really going to get anywhere until we can take the criminality out of the drug business and the incentives for criminality out of it.@@@@1@30@@oe@2-2-2013
20794020@unknown@formal@none@1@S@Frankly, the only way I can think of to accomplish this is to make it possible for addicts to buy drugs at some regulated place at a price that approximates their cost.@@@@1@32@@oe@2-2-2013
20794021@unknown@formal@none@1@S@When you do that you wipe out the criminal incentives, including, I might say, the incentive that the drug pushers have to go around and get kids addicted, so that they create a market for themselves.@@@@1@36@@oe@2-2-2013
20794022@unknown@formal@none@1@S@They won't have that incentive because they won't have that market.@@@@1@11@@oe@2-2-2013
20794023@unknown@formal@none@1@S@So I think the conceptual base needs to be thought out in a different way.@@@@1@15@@oe@2-2-2013
20794024@unknown@formal@none@1@S@If I am catching your attention, then read a bold and informative article in this September's issue of Science by Ethan Nadelmann on this subject.@@@@1@25@@oe@2-2-2013
20794025@unknown@formal@none@1@S@We need at least to consider and examine forms of controlled legalization of drugs.@@@@1@14@@oe@2-2-2013
20794026@unknown@formal@none@1@S@I find it very difficult to say that.@@@@1@8@@oe@2-2-2013
20794027@unknown@formal@none@1@S@Sometimes at a reception or cocktail party I advance these views and people head for somebody else.@@@@1@17@@oe@2-2-2013
20794028@unknown@formal@none@1@S@They don't even want to talk to you.@@@@1@8@@oe@2-2-2013
20794029@unknown@formal@none@1@S@I know that I'm shouting into the breeze here as far as what we're doing now.@@@@1@16@@oe@2-2-2013
20794030@unknown@formal@none@1@S@But I feel that if somebody doesn't get up and start talking about this now, the next time around, when we have the next iteration of these programs, it will still be true that everyone is scared to talk about it.@@@@1@41@@oe@2-2-2013
20794031@unknown@formal@none@1@S@No politician wants to say what I just said, not for a minute.@@@@1@13@@oe@2-2-2013
20795001@unknown@formal@none@1@S@The U.S. economy grew at a moderate 2.5% annual rate in the third quarter, the same pace as the second quarter, despite the worst trade performance in six years, the Commerce Department reported.@@@@1@33@@oe@2-2-2013
20795002@unknown@formal@none@1@S@Personal spending, buoyed by a burst of automobile buying, was the main catalyst to the economy's expansion.@@@@1@17@@oe@2-2-2013
20795003@unknown@formal@none@1@S@But trade, one of the economy's main forces in the past few years, showed a sharp deterioration.@@@@1@17@@oe@2-2-2013
20795004@unknown@formal@none@1@S@Imports of goods and services soared, while exports were flat.@@@@1@10@@oe@2-2-2013
20795005@unknown@formal@none@1@S@Some economists found the mixture ominous.@@@@1@6@@oe@2-2-2013
20795006@unknown@formal@none@1@S@"For the past two years, the foreign trade sector has been a major contributor to economic growth.@@@@1@17@@oe@2-2-2013
20795007@unknown@formal@none@1@S@You can't rely now solely on consumer spending to sustain the economy on a solid growth path," said Norman Robertson, chief economist at Mellon Bank in Pittsburgh.@@@@1@27@@oe@2-2-2013
20795008@unknown@formal@none@1@S@Although the economy showed no change of pace from the second quarter, many analysts expect it to slow considerably in the fourth quarter as demand for autos falls, partly because of higher prices on models introduced last month.@@@@1@38@@oe@2-2-2013
20795009@unknown@formal@none@1@S@Many economists think the rise in the value of the U.S. dollar this year will further crimp progress in trade, because it makes exports more expensive and imports cheaper.@@@@1@29@@oe@2-2-2013
20795010@unknown@formal@none@1@S@And business investment -- which slowed in the third quarter, according to yesterday's report -- is expected to continue to be sluggish.@@@@1@22@@oe@2-2-2013
20795011@unknown@formal@none@1@S@A sharp reduction in inflation was by far the brightest spot in the report on the real gross national product -- the inflation-adjusted market value of all the goods and services the economy produced.@@@@1@34@@oe@2-2-2013
20795012@unknown@formal@none@1@S@An inflation gauge that measures the quarterly change in prices of an array of goods and services slowed its growth to a 2.9% annual rate in the third quarter from 5% in the second.@@@@1@34@@oe@2-2-2013
20795013@unknown@formal@none@1@S@Much of the moderation came from declining energy prices, which have since turned up a bit, analysts said.@@@@1@18@@oe@2-2-2013
20795014@unknown@formal@none@1@S@Consequently, Michael Darby, undersecretary for economic affairs at the Commerce Department, said inflation probably will edge up from the third-quarter rate in the final three months of 1989.@@@@1@28@@oe@2-2-2013
20795015@unknown@formal@none@1@S@But he said he believes the second quarter's 5% rate "will prove to have been this year's peak quarterly inflation rate."@@@@1@21@@oe@2-2-2013
20795016@unknown@formal@none@1@S@Generally, the Bush administration expressed satisfaction with the economy's progress as it heads into its eighth year of sustained growth next month.@@@@1@22@@oe@2-2-2013
20795017@unknown@formal@none@1@S@Treasury Secretary Nicholas Brady called the 2.5% pace "good, solid growth," although he said he expects the expansion to slow in the fourth quarter.@@@@1@24@@oe@2-2-2013
20795018@unknown@formal@none@1@S@He added: "Inflation is lower than I think people expected it to be, and I think that's good news."@@@@1@19@@oe@2-2-2013
20795019@unknown@formal@none@1@S@But administration officials were concerned over the bleak trade report, which showed the deficit in the country's trade of goods and services swelling to a $74 billion annual rate in the third quarter from a $51 billion rate in the second quarter.@@@@1@42@@oe@2-2-2013
20795020@unknown@formal@none@1@S@Mr. Darby called it a "disappointment" but predicted exports will pick up again.@@@@1@13@@oe@2-2-2013
20795021@unknown@formal@none@1@S@"We were unprepared for the deterioration in net exports," said Daniel Van Dyke, vice president of U.S. forecasting at Bank of America in San Francisco.@@@@1@25@@oe@2-2-2013
20795022@unknown@formal@none@1@S@"I can't believe it will continue," he added, noting that the economies of the country's major trading partners are strong and prices of U.S. products are still competitive.@@@@1@28@@oe@2-2-2013
20795023@unknown@formal@none@1@S@Some analysts also were disturbed by a pickup in the growth of business inventories.@@@@1@14@@oe@2-2-2013
20795024@unknown@formal@none@1@S@While a buildup of these stocks adds to GNP, it can hurt the economy because a pileup of unsold goods can lead to production cuts and layoffs.@@@@1@27@@oe@2-2-2013
20795025@unknown@formal@none@1@S@According to the report, inventories outside the farm sector grew at an annual rate of $24.6 billion in the third quarter, up from a $19.5 billion pace in the second quarter.@@@@1@31@@oe@2-2-2013
20795026@unknown@formal@none@1@S@Manufacturers' stocks fattened at an $18.4 billion annual rate, up from $8.3 billion.@@@@1@13@@oe@2-2-2013
20795027@unknown@formal@none@1@S@"That suggests there is a little more inventory overhang than some people expected," said Edward Boss, senior financial economist at Continental Bank in Chicago.@@@@1@24@@oe@2-2-2013
20795028@unknown@formal@none@1@S@"I don't think it's anything that's going to cause a downturn in economic activity.@@@@1@14@@oe@2-2-2013
20795029@unknown@formal@none@1@S@But it will slow production."@@@@1@5@@oe@2-2-2013
20795030@unknown@formal@none@1@S@Devastation from Hurricane Hugo, which slammed into the Southeast coast in late September, diminished personal income by about $4 billion, the department said, but it called the effect on the roughly $5 trillion economy "negligible."@@@@1@35@@oe@2-2-2013
20795031@unknown@formal@none@1@S@Except for the loss from the hurricane, all the figures were adjusted for seasonal factors and inflation.@@@@1@17@@oe@2-2-2013
20795032@unknown@formal@none@1@S@Here are some of the major components of the gross national product expressed in seasonally adjusted annual rates in billions of constant (1982) dollars:@@@@1@24@@oe@2-2-2013
20795033@unknown@formal@none@1@S@In the third quarter, the implicit price deflator fell to 2.9% of the 1982 average, from 4.6% in the previous quarter.@@@@1@21@@oe@2-2-2013
20796001@unknown@formal@none@1@S@Northrop Corp. received a $93.5 million contract by the U.S. Air Force for production tooling and test equipment for the Tacit Rainbow defense-suppression missile.@@@@1@24@@oe@2-2-2013
20796002@unknown@formal@none@1@S@The contract provides additional equipment for Northrop, the prime contractor on the missile, and also supports a 1990 purchase of 90 missiles for follow-on flight tests.@@@@1@26@@oe@2-2-2013
20797001@unknown@formal@none@1@S@General Motors Corp.'s Chevrolet division said it is offering $750 cash incentives on all 1990 models of its full-size Blazer and Suburban truck lines.@@@@1@24@@oe@2-2-2013
20797002@unknown@formal@none@1@S@Chevrolet already has cash incentives on the 1989 models of these vehicles.@@@@1@12@@oe@2-2-2013
20798001@unknown@formal@none@1@S@Hudson's Bay Co. announced terms of a previously proposed rights issue that is expected to raise about 396 million Canadian dollars (US$337 million) net of expenses.@@@@1@26@@oe@2-2-2013
20798002@unknown@formal@none@1@S@Proceeds of the offering will be used to redeem C$264 million of preferred shares and to reduce short-term debt, the company said.@@@@1@22@@oe@2-2-2013
20798003@unknown@formal@none@1@S@Canada's largest department store operator said the rights offering will entitle holders of its ordinary shares, except residents in the U.S. and Britain, to subscribe for two additional shares for every five shares held at a price of C$31.25 a share.@@@@1@41@@oe@2-2-2013
20798004@unknown@formal@none@1@S@The record date is Nov. 9.@@@@1@6@@oe@2-2-2013
20798005@unknown@formal@none@1@S@The company has about 31 million ordinary shares outstanding.@@@@1@9@@oe@2-2-2013
20798006@unknown@formal@none@1@S@On the Toronto Stock Exchange, Hudson's Bay shares closed at C$35, up 12.5 cents.@@@@1@14@@oe@2-2-2013
20798007@unknown@formal@none@1@S@Hudson's Bay said that Woodbridge Co., which currently holds about 77% of the ordinary shares, will subscribe for all the shares to which it is entitled and for any shares that aren't otherwise taken up.@@@@1@35@@oe@2-2-2013
20798008@unknown@formal@none@1@S@Woodbridge is a holding company owned by Toronto's Thomson family.@@@@1@10@@oe@2-2-2013
20798009@unknown@formal@none@1@S@Hudson's Bay said it will redeem 9.5 million Series H preferred shares on Oct. 31 at a price of C$27.75 each.@@@@1@21@@oe@2-2-2013
20798010@unknown@formal@none@1@S@The move was approved at a special shareholders' meeting yesterday.@@@@1@10@@oe@2-2-2013
20798011@unknown@formal@none@1@S@Gary Lukassen, chief financial officer, said redemption of the preferred shares, originally issued at C$25 each, will eliminate dividend payments of C$17.9 million annually.@@@@1@24@@oe@2-2-2013
20799001@unknown@formal@none@1@S@Iverson Technology Corp. was one of the fastest-growing small companies in America -- until last year.@@@@1@16@@oe@2-2-2013
20799002@unknown@formal@none@1@S@The McLean, Va., company modifies computers to keep sensitive military data out of unfriendly hands.@@@@1@15@@oe@2-2-2013
20799003@unknown@formal@none@1@S@From 1984 to 1987, its earnings soared six-fold, to $3.8 million, on a seven-fold increase in revenue, to $44.1 million.@@@@1@20@@oe@2-2-2013
20799004@unknown@formal@none@1@S@But in 1988, it ran into a buzz saw: a Defense Department spending freeze.@@@@1@14@@oe@2-2-2013
20799005@unknown@formal@none@1@S@Iverson's earnings plunged 70% to $1.2 million.@@@@1@7@@oe@2-2-2013
20799006@unknown@formal@none@1@S@The troubles continued in this year's first half, when profit plunged 81% to $302,000.@@@@1@14@@oe@2-2-2013
20799007@unknown@formal@none@1@S@Iverson Technology is one of many small defense contractors besieged by the slowdown in defense spending.@@@@1@16@@oe@2-2-2013
20799008@unknown@formal@none@1@S@Unlike larger contractors with a broad enough base to weather the downturn easily, these companies are suffering big drops in business as once-lucrative specialty niches in the massive military market erode or even disappear.@@@@1@34@@oe@2-2-2013
20799009@unknown@formal@none@1@S@Companies that only recently were thriving find themselves scrambling to survive.@@@@1@11@@oe@2-2-2013
20799010@unknown@formal@none@1@S@As their varied strategies suggest, there is more than one way to respond to a disaster -- though it's too soon to tell whether the changes will pay off.@@@@1@29@@oe@2-2-2013
20799011@unknown@formal@none@1@S@For many companies, the instinctive first response is to cut costs.@@@@1@11@@oe@2-2-2013
20799012@unknown@formal@none@1@S@Others are trying to find specialty defense work spared by the slowdown or new niches created by budget-cutting.@@@@1@18@@oe@2-2-2013
20799013@unknown@formal@none@1@S@More venturesome businesses are applying their skills in commercial fields.@@@@1@10@@oe@2-2-2013
20799014@unknown@formal@none@1@S@ERC International Inc., which provides professional and technical services to the military, is refining its defense niche, not retreating from it.@@@@1@21@@oe@2-2-2013
20799015@unknown@formal@none@1@S@After quadrupling annual earnings over four years to $6.8 million in 1988, the Fairfax, Va., company, posted a 23% drop in earnings for this year's first half.@@@@1@27@@oe@2-2-2013
20799016@unknown@formal@none@1@S@In the belief that development of advanced military technology will remain a top Defense Department priority, ERC last year acquired W.J. Schafer Associates, a technical and scientific analysis company with contracts under the Strategic Defense Initiative.@@@@1@36@@oe@2-2-2013
20799017@unknown@formal@none@1@S@While the SDI anti-missile program recently awarded W.J. Schafer two contracts totaling $13.4 million, ERC's chairman and founder, Jack Aalseth, says he bought the company "more for its technology than its customer."@@@@1@32@@oe@2-2-2013
20799018@unknown@formal@none@1@S@UNC Inc., an Annapolis, Md., contractor that earned $23.8 million on revenue of $400.4 million in 1988, has gone even further in realigning its military business.@@@@1@26@@oe@2-2-2013
20799019@unknown@formal@none@1@S@As orders for its aircraft and submarine parts dwindled, three years of steady growth ended with a 69% drop in income in this year's first half.@@@@1@26@@oe@2-2-2013
20799020@unknown@formal@none@1@S@The company hit on a new strategy: If the Defense Department is so intent on saving money, why not make money off that trend?@@@@1@24@@oe@2-2-2013
20799021@unknown@formal@none@1@S@Among the company's current efforts: repairing old parts at 25% of the cost of replacing them.@@@@1@16@@oe@2-2-2013
20799022@unknown@formal@none@1@S@UNC also is selling new parts, if needed, directly to the military instead of through a prime contractor.@@@@1@18@@oe@2-2-2013
20799023@unknown@formal@none@1@S@At as little as one-third of the government's cost, the company is running a program to train Army helicopter pilots.@@@@1@20@@oe@2-2-2013
20799024@unknown@formal@none@1@S@It is also taking over the maintenance of certain Navy aircraft with 40% fewer people than the military used.@@@@1@19@@oe@2-2-2013
20799025@unknown@formal@none@1@S@In another approach, tiny Iverson Technology is trying to resume its growth by braving the new world of commercial products.@@@@1@20@@oe@2-2-2013
20799026@unknown@formal@none@1@S@Donald Iverson, chairman, says he hopes the company can eventually get up to half of its revenue from commercial markets.@@@@1@20@@oe@2-2-2013
20799027@unknown@formal@none@1@S@For now, he says, "we're looking at buying some small companies with niche markets in the personal-computer business."@@@@1@18@@oe@2-2-2013
20799028@unknown@formal@none@1@S@Earlier this month, Mr. Iverson agreed to buy exclusive rights to a software system developed by Visher Systems Inc., Salt Lake City.@@@@1@22@@oe@2-2-2013
20799029@unknown@formal@none@1@S@The product automates an array of functions performed at small to medium-size printing companies.@@@@1@14@@oe@2-2-2013
20799030@unknown@formal@none@1@S@Mr. Iverson says there are 5,000 potential customers for the software in the Washington, D.C., area alone.@@@@1@17@@oe@2-2-2013
20799031@unknown@formal@none@1@S@QuesTech Inc., Falls Church, Va., also has acquired some companies outside the military market.@@@@1@14@@oe@2-2-2013
20799032@unknown@formal@none@1@S@Moreover, it's trying to transfer its skill at designing military equipment to commercial ventures.@@@@1@14@@oe@2-2-2013
20799033@unknown@formal@none@1@S@A partnership with a Williamsburg, Va., unit of Shell Oil Co. recently patented a process for producing plastic food containers that won't melt in microwave ovens.@@@@1@26@@oe@2-2-2013
20799034@unknown@formal@none@1@S@"We're trying to take the imagination and talent of our engineers and come up with new processes for industry," says Vincent Salvatori, QuesTech's chief executive.@@@@1@25@@oe@2-2-2013
20799035@unknown@formal@none@1@S@"It is an effort to branch out from the government, which is very difficult for a defense contractor."@@@@1@18@@oe@2-2-2013
20799036@unknown@formal@none@1@S@Mr. Salvatori should know.@@@@1@4@@oe@2-2-2013
20799037@unknown@formal@none@1@S@Instead of helping his company in the defense spending slowdown, Dynamic Engineering Inc., a troubled subsidiary that makes wind tunnels for the space industry, contributed to much of QuesTech's $3.3 million loss on $55.6 million in revenue last year.@@@@1@39@@oe@2-2-2013
20799038@unknown@formal@none@1@S@In January, Mr. Salvatori sold the unit.@@@@1@7@@oe@2-2-2013
20799039@unknown@formal@none@1@S@"It was our first acquisition," he says, "and it was a mistake."@@@@1@12@@oe@2-2-2013
20799040@unknown@formal@none@1@S@Some companies are cutting costs and hoping for the best.@@@@1@10@@oe@2-2-2013
20799041@unknown@formal@none@1@S@Telos Corp., a Santa Monica, Calif., provider of software-development and hardware-maintenance services to the military, enjoyed steady growth until this year.@@@@1@21@@oe@2-2-2013
20799042@unknown@formal@none@1@S@Following a tripling of earnings, to $3.9 million, on a doubling of revenue, to $116 million, over four years, earnings in the company's fiscal first quarter, which ended June 30, plunged 90% to $45,000.@@@@1@34@@oe@2-2-2013
20799043@unknown@formal@none@1@S@A one-time write-off for booking nonexistent revenue was partly to blame, but so were lower profits from a stingier contract with the Army and delays in getting paid.@@@@1@28@@oe@2-2-2013
20799044@unknown@formal@none@1@S@Telos responded by combining three of its five divisions to reduce expenses and "bring more focus to potentially fewer bidding opportunities," says Lin Conger, Telos chairman and controlling shareholder.@@@@1@29@@oe@2-2-2013
20799045@unknown@formal@none@1@S@"It's evident we're entering a more competitive era," he says.@@@@1@10@@oe@2-2-2013
20799046@unknown@formal@none@1@S@TransTechnology Corp., a Sherman Oaks, Calif., defense contractor that earned $9.2 million on revenue of $235.2 million in 1988, provides a more dramatic example of cost-cutting.@@@@1@26@@oe@2-2-2013
20799047@unknown@formal@none@1@S@The company not only merged three military-electronics manufacturing operations, but also closed an unrelated plant that makes ordnance devices used in fighter planes and missiles.@@@@1@25@@oe@2-2-2013
20799048@unknown@formal@none@1@S@The closing contributed to a $3.4 million loss in the fiscal first quarter ended July 31 -- its first quarterly loss since 1974.@@@@1@23@@oe@2-2-2013
20799049@unknown@formal@none@1@S@"Our ordnance business has been hurt very badly by the slowdown," says Arch Scurlock, TransTechnology's chairman.@@@@1@16@@oe@2-2-2013
20799050@unknown@formal@none@1@S@"I wouldn't say we're out of the business.@@@@1@8@@oe@2-2-2013
20799051@unknown@formal@none@1@S@But we're not making as many {pyrotechnic devices} as we used to.@@@@1@12@@oe@2-2-2013
20800001@unknown@formal@none@1@S@The growing crowd of Japanese investors buying up foreign companies aren't all strait-laced businessmen in dark suits.@@@@1@17@@oe@2-2-2013
20800002@unknown@formal@none@1@S@Yasumichi Morishita, whose art gallery last month became a major shareholder in Christies International PLC, the London auction house, is one man who doesn't fit the mold.@@@@1@27@@oe@2-2-2013
20800003@unknown@formal@none@1@S@In Japan, he's known in racy weekly magazines as the "King of Shady Money."@@@@1@14@@oe@2-2-2013
20800004@unknown@formal@none@1@S@If nothing else, the 57-year-old's past has its share of dents.@@@@1@11@@oe@2-2-2013
20800005@unknown@formal@none@1@S@Nearly 20 years ago, Mr. Morishita, founder and chairman of Aichi Corp., a finance company, received a 10-month suspended sentence from a Tokyo court for violating a money-lending law and an income tax law.@@@@1@34@@oe@2-2-2013
20800006@unknown@formal@none@1@S@He was convicted of charging interest rates much higher than what the law permitted, and attempting to evade income taxes by using a double accounting system.@@@@1@26@@oe@2-2-2013
20800007@unknown@formal@none@1@S@He's had other brushes with the law.@@@@1@7@@oe@2-2-2013
20800008@unknown@formal@none@1@S@He was arrested, though not indicted, on at least three other occasions in the '60s and '70s: for assault and unlawful confinement, for fraud and forgery of private documents, and for extortion.@@@@1@32@@oe@2-2-2013
20800009@unknown@formal@none@1@S@Christies says it has had no contact with Mr. Morishita since the stock purchase, but that it's happy to deal with him.@@@@1@22@@oe@2-2-2013
20800010@unknown@formal@none@1@S@"We like to make our own judgments" about Mr. Morishita, says Christopher Davidge, Christies' group managing director.@@@@1@17@@oe@2-2-2013
20800011@unknown@formal@none@1@S@"People have a different reputation country by country."@@@@1@8@@oe@2-2-2013
20800012@unknown@formal@none@1@S@Mr. Morishita is a leading figure among Japan's 38,000 "machikin," which lend to small companies, and "sarakin," which lend to individuals.@@@@1@21@@oe@2-2-2013
20800013@unknown@formal@none@1@S@Many of these financiers lend freely, often without demanding collateral.@@@@1@10@@oe@2-2-2013
20800014@unknown@formal@none@1@S@But the interest rates they charge are often near Japan's 54.75% legal limit, says Kenji Utsunomiya, a lawyer specializing in loan troubles.@@@@1@22@@oe@2-2-2013
20800015@unknown@formal@none@1@S@Aichi is a machikin, Mr. Utsunomiya says, and "one of the nasty ones."@@@@1@13@@oe@2-2-2013
20800016@unknown@formal@none@1@S@In describing that business in general, he says that when the client can't repay the loan, some machikin "clutch on like hyenas" and even take over the client's company.@@@@1@29@@oe@2-2-2013
20800017@unknown@formal@none@1@S@Last month, Mr. Morishita's new gallery, Aska International Ltd., purchased 6.4% of Christies for #33 million ($53.3 million).@@@@1@18@@oe@2-2-2013
20800018@unknown@formal@none@1@S@Acquired from Carisbrook Holdings U.K. Ltd., a company owned by Australian financier Robert Holmes a Court, the stake was apparently the first of its kind for Aska, an entity separate from Aichi.@@@@1@32@@oe@2-2-2013
20800019@unknown@formal@none@1@S@And the acquisition, which made Aska one of Christies' top five shareholders, left many people wondering who this man was and what his intentions were.@@@@1@25@@oe@2-2-2013
20800020@unknown@formal@none@1@S@"We're an investor," Mr. Morishita says, sitting back in his purple gallery filled with some 20 Monets and Renoirs.@@@@1@19@@oe@2-2-2013
20800021@unknown@formal@none@1@S@"In the long run, the {stock} prices will go up."@@@@1@10@@oe@2-2-2013
20800022@unknown@formal@none@1@S@It's not clear whether Aska plans to buy more shares.@@@@1@10@@oe@2-2-2013
20800023@unknown@formal@none@1@S@But Christies, Mr. Morishita insists, is happy to see him become a long-term stockholder.@@@@1@14@@oe@2-2-2013
20800024@unknown@formal@none@1@S@Mr. Morishita considers himself a connoisseur of art.@@@@1@8@@oe@2-2-2013
20800025@unknown@formal@none@1@S@In 30 years of collecting impressionist and Japanese paintings, he has acquired 600 items, he says, enough to persuade him to start a museum next year.@@@@1@26@@oe@2-2-2013
20800026@unknown@formal@none@1@S@He says he spent $300 million on his art business this year.@@@@1@12@@oe@2-2-2013
20800027@unknown@formal@none@1@S@A week ago, his gallery racked up a $23 million tab at a Sotheby's auction in New York buying seven works, including a Picasso.@@@@1@24@@oe@2-2-2013
20800028@unknown@formal@none@1@S@"He makes snap judgments," says Kiyotaka Kori, the art gallery's manager and Mr. Morishita's secretary for more than seven years.@@@@1@20@@oe@2-2-2013
20800029@unknown@formal@none@1@S@Mr. Morishita's main business certainly appears to be thriving, although he won't disclose numbers.@@@@1@14@@oe@2-2-2013
20800030@unknown@formal@none@1@S@According to Teikoku Data Bank Ltd., which tracks company earnings, Aichi's revenue rose 15% to 49.3 billion yen ($348.4 million) in the year ended February.@@@@1@25@@oe@2-2-2013
20800031@unknown@formal@none@1@S@Revenue doubled from two years ago.@@@@1@6@@oe@2-2-2013
20800032@unknown@formal@none@1@S@That is, if the company reported results correctly.@@@@1@8@@oe@2-2-2013
20800033@unknown@formal@none@1@S@The Asahi Shimbun, a Japanese daily, last month reported that Aichi revised its tax calculations after being challenged for allegedly failing to report all of its income to tax authorities over a two-year period.@@@@1@34@@oe@2-2-2013
20800034@unknown@formal@none@1@S@The Tokyo Regional Taxation Office declines to comment, and Mr. Kori, the tycoon's secretary, says the problem simply resulted from a difference of opinion over what was considered income.@@@@1@29@@oe@2-2-2013
20800035@unknown@formal@none@1@S@The small, wiry Mr. Morishita comes across as an outspoken man of the world.@@@@1@14@@oe@2-2-2013
20800036@unknown@formal@none@1@S@Stretching his arms in his silky white shirt and squeaking his black shoes, he lectures a visitor about the way to sell American real estate and boasts about his friendship with Margaret Thatcher's son.@@@@1@34@@oe@2-2-2013
20800037@unknown@formal@none@1@S@But when asked what exactly he does in business, he immediately takes offense.@@@@1@13@@oe@2-2-2013
20800038@unknown@formal@none@1@S@"Are you stupid?" he snaps.@@@@1@5@@oe@2-2-2013
20800039@unknown@formal@none@1@S@"You should know what questions to ask to get people to answer."@@@@1@12@@oe@2-2-2013
20800040@unknown@formal@none@1@S@Not many people know the details of Mr. Morishita's business, but it's a source of rumors about shady dealings.@@@@1@19@@oe@2-2-2013
20800041@unknown@formal@none@1@S@When a small company goes belly-up, for instance, the gossipy weekly magazines are often quick to link the demise with Aichi.@@@@1@21@@oe@2-2-2013
20800042@unknown@formal@none@1@S@Mr. Morishita scoffs at those stories, as well as the ones connecting him to the Japanese mob.@@@@1@17@@oe@2-2-2013
20800043@unknown@formal@none@1@S@He says he has never even dined with gangsters.@@@@1@9@@oe@2-2-2013
20800044@unknown@formal@none@1@S@The seventh child of a store owner in Aichi prefecture, Mr. Morishita started out in the textile business.@@@@1@18@@oe@2-2-2013
20800045@unknown@formal@none@1@S@From there, he set up his finance company and rapidly expanded from lending to investment in real estate to building golf courses.@@@@1@22@@oe@2-2-2013
20800046@unknown@formal@none@1@S@He spends most weekends flying his helicopter to one of his nine courses, he says, two of which were designed by Jack Nicklaus.@@@@1@23@@oe@2-2-2013
20800047@unknown@formal@none@1@S@He also owns courses in the U.S. and France.@@@@1@9@@oe@2-2-2013
20800048@unknown@formal@none@1@S@The gruff financier recently started socializing in upper-class circles.@@@@1@9@@oe@2-2-2013
20800049@unknown@formal@none@1@S@Although he says he wasn't keen on going, last year he attended a New York gala where his daughter made her debut.@@@@1@22@@oe@2-2-2013
20800050@unknown@formal@none@1@S@He also leads an opulent life style.@@@@1@7@@oe@2-2-2013
20800051@unknown@formal@none@1@S@Even in Denenchofu, one of Tokyo's richest neighborhoods, Mr. Morishita's splashy brick manor -- one of some 10 houses he owns -- outshines the neighbors'.@@@@1@25@@oe@2-2-2013
20800052@unknown@formal@none@1@S@A lavish white portico with a stained-glass window towers over the brick wall surrounding his property.@@@@1@16@@oe@2-2-2013
20800053@unknown@formal@none@1@S@Although Mr. Morishita says little about his business, he offers one rule to success: Never gamble too far.@@@@1@18@@oe@2-2-2013
20800054@unknown@formal@none@1@S@"I quit after one try, whether I win or lose," he says.@@@@1@12@@oe@2-2-2013
20800055@unknown@formal@none@1@S@"I'm done in two minutes."@@@@1@5@@oe@2-2-2013
20800056@unknown@formal@none@1@S@Mr. Morishita says he intends to expand his business to many other areas at home and abroad.@@@@1@17@@oe@2-2-2013
20800057@unknown@formal@none@1@S@He'll be there wherever there's money to be made, laughs Mr. Kori, the secretary.@@@@1@14@@oe@2-2-2013
20800058@unknown@formal@none@1@S@"Who knows," he says, "if he heard that soybeans make money today, he might be flying out to Chicago tomorrow.@@@@1@20@@oe@2-2-2013
20801001@unknown@formal@none@1@S@WHO'S NEWS:@@@@1@2@@oe@2-2-2013
20801002@unknown@formal@none@1@S@Arthur Price resigned as president and chief executive officer of MTM Enterprises Inc., a Studio-City, Calif., entertainment concern.@@@@1@18@@oe@2-2-2013
20801003@unknown@formal@none@1@S@He co-founded the company with Grant Tinker and Mary Tyler Moore in 1969.@@@@1@13@@oe@2-2-2013
20801004@unknown@formal@none@1@S@MTM is a unit of British-based TVS Entertainment PLC, whose chief executive officer, James Gatward, will oversee the company until a successor is named.@@@@1@24@@oe@2-2-2013
20802001@unknown@formal@none@1@S@As expected, First Interstate Bancorp reported a net loss of $15.5 million for its third quarter because of hemorrhaging at its First Interstate Bank of Arizona unit.@@@@1@27@@oe@2-2-2013
20802002@unknown@formal@none@1@S@The Los Angeles-based bank holding company disclosed last Friday that it had taken a huge $350 million provision for loan losses at the Arizona bank, the result of the state's worsening real-estate market.@@@@1@33@@oe@2-2-2013
20802003@unknown@formal@none@1@S@In yesterday's report, First Interstate said its bank in Texas also reported a loss of $23.5 million for the quarter.@@@@1@20@@oe@2-2-2013
20802004@unknown@formal@none@1@S@But it said that its consumer banks in Oregon, California, Nevada and Washington performed well during the quarter and that nonperforming assets at these banks declined by 14% over the year-ago period.@@@@1@32@@oe@2-2-2013
20803001@unknown@formal@none@1@S@Private-sector union contracts signed in the third quarter granted slightly lower wage increases than those signed in the second quarter, but wage increases still are running above last year's levels.@@@@1@30@@oe@2-2-2013
20803002@unknown@formal@none@1@S@The Labor Department said wage settlements in the third quarter called for average annual wage increases of 3.6% in the first year and 3.0% over the life of the contracts.@@@@1@30@@oe@2-2-2013
20803003@unknown@formal@none@1@S@The last time parties to these settlements negotiated wage increases, mostly in 1986 or 1987, wages increased an average of 2.4% a year over the life of the contracts.@@@@1@29@@oe@2-2-2013
20803004@unknown@formal@none@1@S@If this pattern continues, the Labor Department said, 1989 will be the first year that the measure has shown an increase since 1981 when the department started comparing expiring contracts with those that replaced them.@@@@1@35@@oe@2-2-2013
20803005@unknown@formal@none@1@S@This reflects the restoration of wage cuts in the steel and other industries as well as higher wages granted nurses who work in health-care facilities.@@@@1@25@@oe@2-2-2013
20803006@unknown@formal@none@1@S@Settlements reached in the first nine months of 1989 called for wage increases averaging 3.7% in the first contract year and 3.1% annually over the life of the contracts, the department said.@@@@1@32@@oe@2-2-2013
20803007@unknown@formal@none@1@S@For all of 1988, union contracts provided for 2.5% wage increases in the first year and 2.4% over the life of the contracts.@@@@1@23@@oe@2-2-2013
20803008@unknown@formal@none@1@S@In the second quarter, contracts called for increases of 3.9% in the first year and 3.4% over the life of the contracts.@@@@1@22@@oe@2-2-2013
20803009@unknown@formal@none@1@S@The figures exclude lump-sum payments and cost-of-living adjustments, so the actual wage increases may have been bigger.@@@@1@17@@oe@2-2-2013
20803010@unknown@formal@none@1@S@About 35% of the workers covered by contracts signed in the first nine months of year get lump-sum payments; about 15% are covered by cost-of-living clauses.@@@@1@26@@oe@2-2-2013
20803011@unknown@formal@none@1@S@Unions covered by one or other provisions generally settled for lower percentage wage increases.@@@@1@14@@oe@2-2-2013
20803012@unknown@formal@none@1@S@The Labor Department said wage increases in manufacturing industries continue to be smaller than those in other industries.@@@@1@18@@oe@2-2-2013
20803013@unknown@formal@none@1@S@For all six million workers under major collective bargaining agreements, regardless of when they were signed, wage increases in the first nine months of 1989 averaged 2.5% -- including cost-of-living adjustments.@@@@1@31@@oe@2-2-2013
20804001@unknown@formal@none@1@S@An enormous turtle has succeeded where the government has failed: He has made speaking Filipino respectable.@@@@1@16@@oe@2-2-2013
20804002@unknown@formal@none@1@S@The 6 1/2-foot-tall turtle, Pong Pagong, is a character who stars in the children's television show "Batibot."@@@@1@17@@oe@2-2-2013
20804003@unknown@formal@none@1@S@He speaks only in Filipino.@@@@1@5@@oe@2-2-2013
20804004@unknown@formal@none@1@S@"Batibot," which started in 1983 as a hybrid of the U.S. program "Sesame Street," has developed into a distinctly Philippine effort.@@@@1@21@@oe@2-2-2013
20804005@unknown@formal@none@1@S@Radio programs and books have followed the daily television show.@@@@1@10@@oe@2-2-2013
20804006@unknown@formal@none@1@S@In the process, "Batibot," an archaic Filipino word meaning "strong" or "enduring," has become a powerful advocate of the use of the Filipino language.@@@@1@24@@oe@2-2-2013
20804007@unknown@formal@none@1@S@"It impresses on ordinary, young Filipinos that there's nothing to feel inferior about in using their own language," says Randy David, a sociologist and host of a popular television talk show.@@@@1@31@@oe@2-2-2013
20804008@unknown@formal@none@1@S@"When we started the program six years ago, the use of Filipino was deemed unwise by the predominantly middle class," says Lydia Brown, the program's creator.@@@@1@26@@oe@2-2-2013
20804009@unknown@formal@none@1@S@Now, she says, "it's no longer an issue."@@@@1@8@@oe@2-2-2013
20804010@unknown@formal@none@1@S@The success of "Batibot" stands in marked contrast to many academic and government attempts to promote Filipino as a national language.@@@@1@21@@oe@2-2-2013
20804011@unknown@formal@none@1@S@Filipino -- once known as Pilipino -- is predominantly Tagalog, the Malay-based language spoken in a part of the country's principal island of Luzon.@@@@1@24@@oe@2-2-2013
20804012@unknown@formal@none@1@S@Resistance to a national language comes primarily from members of the country's elite, who generally prefer English.@@@@1@17@@oe@2-2-2013
20804013@unknown@formal@none@1@S@But while better-off Filipinos are quick to cite the logic in using a language as widespread as English, they are often slow to reveal that they are prejudiced against Filipino, say advocates of the native language.@@@@1@36@@oe@2-2-2013
20804014@unknown@formal@none@1@S@"For the middle and upper-middle class {Filipino} is declasse," says Bien Lumbera, a Philippine-studies professor at Quezon City's University of the Philippines.@@@@1@22@@oe@2-2-2013
20804015@unknown@formal@none@1@S@There's also resentment.@@@@1@3@@oe@2-2-2013
20804016@unknown@formal@none@1@S@Other opponents of Filipino come from non-Tagalog regions.@@@@1@8@@oe@2-2-2013
20804017@unknown@formal@none@1@S@They argue that their own languages should have equal weight, although recent surveys indicate that the majority of the country's population understands Filipino more than any other language.@@@@1@28@@oe@2-2-2013
20804018@unknown@formal@none@1@S@(There are seven major languages and more than 70 dialects in the country.)@@@@1@13@@oe@2-2-2013
20804019@unknown@formal@none@1@S@What tongue to speak is an emotional mine field in the Philippines.@@@@1@12@@oe@2-2-2013
20804020@unknown@formal@none@1@S@It is entrenched in the country's colonial bonds to the U.S., in Philippine class structure, in the regional loyalties of its people and in its island geography.@@@@1@27@@oe@2-2-2013
20804021@unknown@formal@none@1@S@As they did when the Philippines was a colony of the U.S., teachers for the most part teach in English, even though it is a foreign language for most Philippine children.@@@@1@31@@oe@2-2-2013
20804022@unknown@formal@none@1@S@As a result, they often speak one language at home, another at school.@@@@1@13@@oe@2-2-2013
20804023@unknown@formal@none@1@S@Mrs. Brown calls the modern-day cultural ambivalence to Filipino a "language schizophrenia."@@@@1@12@@oe@2-2-2013
20804024@unknown@formal@none@1@S@The issue has been simmering for years.@@@@1@7@@oe@2-2-2013
20804025@unknown@formal@none@1@S@It doesn't take much to provoke an intense debate.@@@@1@9@@oe@2-2-2013
20804026@unknown@formal@none@1@S@When President Corazon Aquino, whose command of Filipino is spotty, announced last year that the language would be used in official communications, there was an uproar from many legislators, who continue to conduct debates mostly in English.@@@@1@37@@oe@2-2-2013
20804027@unknown@formal@none@1@S@But many proponents of Filipino see resistance to the language finally crumbling.@@@@1@12@@oe@2-2-2013
20804028@unknown@formal@none@1@S@They believe the media, including "Batibot," have played a crucial role.@@@@1@11@@oe@2-2-2013
20804029@unknown@formal@none@1@S@According to chief scriptwriter Rene Villanueva, "Batibot" doesn't set out to advance the cause of Filipino.@@@@1@16@@oe@2-2-2013
20804030@unknown@formal@none@1@S@"It's not as if we're teaching language per se," he says, "We're just using it."@@@@1@15@@oe@2-2-2013
20804031@unknown@formal@none@1@S@These days, "Batibot" is produced in a converted lumberyard on a shoestring budget of $3,000 a one-hour segment.@@@@1@18@@oe@2-2-2013
20804032@unknown@formal@none@1@S@It is shown weekdays on two of the country's five networks.@@@@1@11@@oe@2-2-2013
20804033@unknown@formal@none@1@S@With an audience totaling more than 400,000, "Batibot" consistently ranks in the country's top-four most-watched daytime programs.@@@@1@17@@oe@2-2-2013
20804034@unknown@formal@none@1@S@But advertising revenue is inadequate.@@@@1@5@@oe@2-2-2013
20804035@unknown@formal@none@1@S@Periodically, there are threats that the program will fold.@@@@1@9@@oe@2-2-2013
20804036@unknown@formal@none@1@S@"Batibot" lacks the polish of "Sesame Street."@@@@1@7@@oe@2-2-2013
20804037@unknown@formal@none@1@S@Sound stages echo.@@@@1@3@@oe@2-2-2013
20804038@unknown@formal@none@1@S@Acting sometimes falls flat.@@@@1@4@@oe@2-2-2013
20804039@unknown@formal@none@1@S@There are only two large puppets in the program: Pong Pagong and a monkey named Kiko Matsing.@@@@1@17@@oe@2-2-2013
20804040@unknown@formal@none@1@S@But the production is the equal of any local program.@@@@1@10@@oe@2-2-2013
20804041@unknown@formal@none@1@S@And the show's creativity makes up for any technological deficiencies.@@@@1@10@@oe@2-2-2013
20804042@unknown@formal@none@1@S@The program isn't afraid to tackle controversial topics such as nuclear weapons and the environment.@@@@1@15@@oe@2-2-2013
20804043@unknown@formal@none@1@S@Not that the language war is won, even on "Batibot."@@@@1@10@@oe@2-2-2013
20804044@unknown@formal@none@1@S@During one recent episode, all the advertisements were in English.@@@@1@10@@oe@2-2-2013
20805001@unknown@formal@none@1@S@CMS ENERGY Corp. said management would recommend to its board today that its common stock dividend be reinstated at a "modest level" later this year.@@@@1@25@@oe@2-2-2013
20805002@unknown@formal@none@1@S@The Dearborn, Mich., energy company stopped paying a dividend in the third quarter of 1984 because of troubles at its Midland nuclear plant.@@@@1@23@@oe@2-2-2013
20805003@unknown@formal@none@1@S@In addition, CMS reported third-quarter net of $68.2 million, or 83 cents a share, up from $66.8 million, or 81 cents a share, a year ago.@@@@1@26@@oe@2-2-2013
20806001@unknown@formal@none@1@S@HEALTHDYNE Inc., Atlanta, said its subsidiary, Home Nutritional Services Inc., registered with the Securities and Exchange Commission an initial public offering of four million shares of common.@@@@1@27@@oe@2-2-2013
20806002@unknown@formal@none@1@S@The in-home health care services provider said it will sell 1.8 million of the new shares, while Home Nutritional Services will sell the remaining 2.2 million.@@@@1@26@@oe@2-2-2013
20806003@unknown@formal@none@1@S@The company estimates the offering price at between $14 and $16 a share.@@@@1@13@@oe@2-2-2013
20806004@unknown@formal@none@1@S@The company said it expects to use the proceeds to repay certain bank debt and for general corporate purposes, including establishing new operating centers and possible acquisitions.@@@@1@27@@oe@2-2-2013
20806005@unknown@formal@none@1@S@Home Nutritional currently has 10 million shares outstanding.@@@@1@8@@oe@2-2-2013
20806006@unknown@formal@none@1@S@It will have 11.8 million shares outstanding after the offering, with Healthdyne owning about 65% of the total.@@@@1@18@@oe@2-2-2013
20807001@unknown@formal@none@1@S@Black & Decker Corp. said it agreed to sell its Bostik chemical adhesives unit to Orkem S.A., a French chemical company, for $345 million.@@@@1@24@@oe@2-2-2013
20807002@unknown@formal@none@1@S@Bostik is the first Emhart Corp. unit to be sold as part of the power-tool manufacturer's effort to reduce debt and consolidate operations after it acquired Emhart earlier this year.@@@@1@30@@oe@2-2-2013
20807003@unknown@formal@none@1@S@Black & Decker said it plans to put other Emhart units on the block in the future, with the goal of raising $1 billion in net proceeds.@@@@1@27@@oe@2-2-2013
20807004@unknown@formal@none@1@S@Black & Decker rescued Emhart from the takeover bid of Topper Limited Partnership last March by agreeing to acquire the maker of door locks and gardening tools for about $2.8 billion.@@@@1@31@@oe@2-2-2013
20807005@unknown@formal@none@1@S@The move significantly expanded Black & Decker's product line, but also significantly increased its debt load.@@@@1@16@@oe@2-2-2013
20807006@unknown@formal@none@1@S@The acquisition boosted Black & Decker's ratio of debt to total capital to more than 80%.@@@@1@16@@oe@2-2-2013
20807007@unknown@formal@none@1@S@Company officials have said they plan to reduce that ratio to less than 50% over the next 2 1/2 years.@@@@1@20@@oe@2-2-2013
20807008@unknown@formal@none@1@S@Earlier this year, Black & Decker put three Emhart businesses on the auction block: the information and electronics segment, the Dynapert electrical assembly business and Mallory Capacitors.@@@@1@27@@oe@2-2-2013
20807009@unknown@formal@none@1@S@The three units had combined 1988 sales of about $904 million.@@@@1@11@@oe@2-2-2013
20807010@unknown@formal@none@1@S@The three units contributed about a third of Emhart's total sales.@@@@1@11@@oe@2-2-2013
20807011@unknown@formal@none@1@S@In addition, Black & Decker had said it would sell two other undisclosed Emhart operations if it received the right price.@@@@1@21@@oe@2-2-2013
20807012@unknown@formal@none@1@S@Bostic is one of the previously unnamed units, and the first of the five to be sold.@@@@1@17@@oe@2-2-2013
20807013@unknown@formal@none@1@S@The company is still negotiating the sales of the other four units and expects to announce agreements by the end of the year.@@@@1@23@@oe@2-2-2013
20807014@unknown@formal@none@1@S@The five units generated sales of about $1.3 billion in 1988, almost half of Emhart's $2.3 billion revenue.@@@@1@18@@oe@2-2-2013
20807015@unknown@formal@none@1@S@Bostic posted 1988 sales of $255 million.@@@@1@7@@oe@2-2-2013
20807016@unknown@formal@none@1@S@"Our divestiture program is on schedule, and we remain confident that we will achieve our stated goal of over $1 billion in net proceeds," said Nolan D. Archibald, Black & Decker's president and chief executive officer, in a statement.@@@@1@39@@oe@2-2-2013
20807017@unknown@formal@none@1@S@The sales are an attempt to quell investor concern about Black & Decker's increased debt burden from the Emhart purchase.@@@@1@20@@oe@2-2-2013
20807018@unknown@formal@none@1@S@The company's stock plunged when it first announced that it planned to acquire Emhart.@@@@1@14@@oe@2-2-2013
20807019@unknown@formal@none@1@S@The company maintains that it doesn't expect Emhart to contribute to earnings for about another 12 months.@@@@1@17@@oe@2-2-2013
20807020@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Black & Decker closed at $19.75 yesterday, down 25 cents.@@@@1@19@@oe@2-2-2013
20807021@unknown@formal@none@1@S@The company didn't announce the sale until after the close of the market.@@@@1@13@@oe@2-2-2013
20808001@unknown@formal@none@1@S@Dick Darman, call your office.@@@@1@5@@oe@2-2-2013
20808002@unknown@formal@none@1@S@Embedded in the "budget" being concocted by the House-Senate conference committee is something that looks, smells and waddles like a duck.@@@@1@21@@oe@2-2-2013
20808003@unknown@formal@none@1@S@It's a nuisance tax on mergers.@@@@1@6@@oe@2-2-2013
20808004@unknown@formal@none@1@S@Congress has decided to raise $40 million by charging companies $20,000 for the honor of filing the required papers under the Hart-Scott-Rodino law.@@@@1@23@@oe@2-2-2013
20808005@unknown@formal@none@1@S@Ever since the bad days of Big is Bad antitrust enforcement, this law has required that anyone proposing a merger must make a filing describing the effects on all relevant markets.@@@@1@31@@oe@2-2-2013
20808006@unknown@formal@none@1@S@The Hart-Scott filing is then reviewed and any antitrust concerns usually met.@@@@1@12@@oe@2-2-2013
20808007@unknown@formal@none@1@S@Typically, Hart-Scott is used now to give managers of target firms early news of a bid and a chance to use regulatory review as a delaying tactic.@@@@1@27@@oe@2-2-2013
20808008@unknown@formal@none@1@S@The $20,000 tax would be a small cost in a multibillion-dollar deal, but a serious drag on thousands of small, friendly deals.@@@@1@22@@oe@2-2-2013
20808009@unknown@formal@none@1@S@One especially dangerous aspect to the new tax would be that the proceeds will be used to increase the budgets of the antitrust division at Justice and the Federal Trade Commission.@@@@1@31@@oe@2-2-2013
20808010@unknown@formal@none@1@S@This amounts to a bounty for regulators -- the more regulating the more they get to keep.@@@@1@17@@oe@2-2-2013
20808011@unknown@formal@none@1@S@Also, as former Reagan antitrust chief Charles Rule has noted, this would "establish the precedent that the government may charge parties for the privilege of being sued regardless of whether the government prevails."@@@@1@33@@oe@2-2-2013
20808012@unknown@formal@none@1@S@Yet another opportunity for President Bush to respond, "Read my lips.@@@@1@11@@oe@2-2-2013
20808013@unknown@formal@none@1@S@Line-item veto.@@@@1@2@@oe@2-2-2013
20809001@unknown@formal@none@1@S@Michael Grobstein, 46 years old, was named vice chairman for planning, marketing and industry services, a new post.@@@@1@18@@oe@2-2-2013
20809002@unknown@formal@none@1@S@Mr. Grobstein had been a vice chairman of Ernst & Whinney, an accounting firm that merged with rival Arthur Young in July to form Ernst & Young, a major accounting, tax and management consulting firm.@@@@1@35@@oe@2-2-2013
20809003@unknown@formal@none@1@S@Mr. Grobstein's appointment formalizes a role he has been performing since the merger, a spokeswoman said.@@@@1@16@@oe@2-2-2013
20810001@unknown@formal@none@1@S@Cie. de Navigation Mixte Chairman Marc Fournier said his board unanimously rejected as too low the $1.77 billion bid by Cie. Financiere de Paribas to bring its stake in Navigation Mixte to 66.7%.@@@@1@33@@oe@2-2-2013
20810002@unknown@formal@none@1@S@At a news conference, Mr. Fournier accused Paribas of planning to pay for the takeover by selling parts of the company, whose interests include insurance, banking, tuna canning, sugar and orange juice.@@@@1@32@@oe@2-2-2013
20810003@unknown@formal@none@1@S@The chairman said his board members, including representatives of West German insurance giant Allianz AG and French banks Credit Lyonnais and Societe Generale, hold nearly 50% of Navigation Mixte's capital.@@@@1@30@@oe@2-2-2013
20810004@unknown@formal@none@1@S@Mr. Fournier said that as Navigation Mixte chairman, he is prohibited by takeover regulations from organizing his own defense or doing anything besides managing current company business.@@@@1@27@@oe@2-2-2013
20810005@unknown@formal@none@1@S@But sources said he will be urging his allies to boost their stakes in Navigation Mixte, which is being traded in London and is to resume trading in Paris Tuesday.@@@@1@30@@oe@2-2-2013
20810006@unknown@formal@none@1@S@At the same time, he is expected to seek legal and regulatory means of blocking or delaying Paribas's bid.@@@@1@19@@oe@2-2-2013
20810007@unknown@formal@none@1@S@For the moment, the sources said, he has decided against seeking a white knight or organizing a counterbid for Paribas.@@@@1@20@@oe@2-2-2013
20810008@unknown@formal@none@1@S@Mr. Fournier said Navigation Mixte's 1989 unconsolidated, or parent-company, profit is likely to be 4.7 billion francs ($754.4 million), up from 633.8 million francs last year.@@@@1@26@@oe@2-2-2013
20810009@unknown@formal@none@1@S@That is due mostly to payments from Allianz for most of the 50% stake it has agreed to acquire in Navigation Mixte's insurance business.@@@@1@24@@oe@2-2-2013
20810010@unknown@formal@none@1@S@Mr. Fournier said the exceptional gain would mean nearly twice as high a dividend this year as last.@@@@1@18@@oe@2-2-2013
20810011@unknown@formal@none@1@S@If holders avoid tendering to Paribas, he added, they can expect strong dividends again next year.@@@@1@16@@oe@2-2-2013
20810012@unknown@formal@none@1@S@Analysts noted that over the past 20 years, Mr. Fournier has built his company through astute stock-market activity and has warded off at least three takeover attempts.@@@@1@27@@oe@2-2-2013
20810013@unknown@formal@none@1@S@This time, however, some analysts think he could face a real battle.@@@@1@12@@oe@2-2-2013
20810014@unknown@formal@none@1@S@"Without some unexpected "coup de theatre", I don't see what will block the Paribas bid," said Philippe de Cholet, analyst at the brokerage Cholet-Dupont & Cie.@@@@1@26@@oe@2-2-2013
20810015@unknown@formal@none@1@S@Mr. de Cholet said Mr. Fournier's biggest hope was to somehow persuade regulatory authorities to block the bid.@@@@1@18@@oe@2-2-2013
20810016@unknown@formal@none@1@S@Paribas still needs the go-ahead from the Commission des Operations de Bourse, a government regulatory agency, but analysts said that is considered likely.@@@@1@23@@oe@2-2-2013
20810017@unknown@formal@none@1@S@Mr. Fournier also noted that Navigation Mixte joined Paribas's core of shareholders when Paribas was denationalized in 1987, and said it now holds just under 5% of Paribas's shares.@@@@1@29@@oe@2-2-2013
20810018@unknown@formal@none@1@S@Once he realized that Paribas's intentions weren't friendly, he said, but before the bid was launched, he sought approval to boost his Paribas stake above 10%.@@@@1@26@@oe@2-2-2013
20810019@unknown@formal@none@1@S@The petition is still pending, but Mr. Fournier downplayed the likelihood of his organizing a takeover bid of his own for the much-larger Paribas.@@@@1@24@@oe@2-2-2013
20810020@unknown@formal@none@1@S@One big question now is the likely role of Mr. Fournier's allies.@@@@1@12@@oe@2-2-2013
20810021@unknown@formal@none@1@S@Mr. Fournier said the large institutions that hold nearly 50% of Navigation Mixte's capital all strongly support him, but some analysts said they aren't so sure.@@@@1@26@@oe@2-2-2013
20810022@unknown@formal@none@1@S@Allianz, for example, has said in official comments so far that it will remain neutral.@@@@1@15@@oe@2-2-2013
20810023@unknown@formal@none@1@S@Paribas is Allianz's lead French bank.@@@@1@6@@oe@2-2-2013
20810024@unknown@formal@none@1@S@Paribas said Monday that it intends to bid to boost its stake in Navigation Mixte to 66.7%, from the 18.7% it already owns.@@@@1@23@@oe@2-2-2013
20810025@unknown@formal@none@1@S@The purchase of the additional 48% stake is expected to cost more than 11 billion francs ($1.77 billion).@@@@1@18@@oe@2-2-2013
20810026@unknown@formal@none@1@S@Paribas says it will offer 1,850 francs ($296.95) each for Navigation Mixte shares that enjoy full dividend rights, and 1,800 francs each for a block of shares issued July 1, which will receive only partial dividends this year.@@@@1@38@@oe@2-2-2013
20810027@unknown@formal@none@1@S@Alternatively, it is to offer three Paribas shares for one Navigation Mixte share.@@@@1@13@@oe@2-2-2013
20810028@unknown@formal@none@1@S@The Paribas offer values Navigation Mixte at about 23 billion francs, depending on how many of Navigation Mixte's warrants are converted into shares during the takeover battle.@@@@1@27@@oe@2-2-2013
20811001@unknown@formal@none@1@S@BLOCKBUSTER ENTERTAINMENT CORP. said it raised $92 million from an offering of liquid yield option notes.@@@@1@16@@oe@2-2-2013
20811002@unknown@formal@none@1@S@The gross proceeds from the sale of the notes, which will be due on Nov. 1, 2004, will be used to reduce existing debt and for general corporate purposes, the company said.@@@@1@32@@oe@2-2-2013
20811003@unknown@formal@none@1@S@The debt reduction is expected to save the Fort Lauderdale, Fla. home video concern about $2 million a year in interest expense.@@@@1@22@@oe@2-2-2013
20811004@unknown@formal@none@1@S@The zero-coupon subordinated notes have no periodic interest payments.@@@@1@9@@oe@2-2-2013
20811005@unknown@formal@none@1@S@Each note is being offered at $308.32 per $1,000 principal amount at maturity, representing an 8% yield to maturity.@@@@1@19@@oe@2-2-2013
20811006@unknown@formal@none@1@S@In addition, each note can be converted into Blockbuster Entertainment common stock at a rate of 13.851 shares per note.@@@@1@20@@oe@2-2-2013
20811007@unknown@formal@none@1@S@Merrill Lynch Capital Markets Inc. is the sole underwriter for the offering.@@@@1@12@@oe@2-2-2013
20811008@unknown@formal@none@1@S@The notes will have a principal amount of $300 million at maturity.@@@@1@12@@oe@2-2-2013
20811009@unknown@formal@none@1@S@Blockbuster shares closed yesterday at $18.75, down $1.125, in New York Stock Exchange trading.@@@@1@14@@oe@2-2-2013
20812001@unknown@formal@none@1@S@The 1986 Tax Reform Act has nearly eliminated the number of large, profitable corporations that don't pay federal income tax, according to Citizens for Tax Justice, a nonprofit, labor-funded research and lobbying group.@@@@1@33@@oe@2-2-2013
20812002@unknown@formal@none@1@S@In a study of 250 of the nation's richest companies, the group found that only seven managed to avoid paying federal income taxes last year compared with 40 in 1986, the last year the old tax rules were in effect, and 16 in 1987, when some of the new tax provisions went into effect.@@@@1@54@@oe@2-2-2013
20812003@unknown@formal@none@1@S@Moreover, 41 companies that paid no federal income tax from 1981 through 1985 -- despite billions of dollars of profits -- ended up paying an average of 27.9% of their income in federal taxes in 1988.@@@@1@36@@oe@2-2-2013
20812004@unknown@formal@none@1@S@The report, released yesterday, comes as Congress is considering a number of special tax breaks only three years after the sweeping tax-revision legislation abolished or curtailed many loopholes.@@@@1@28@@oe@2-2-2013
20812005@unknown@formal@none@1@S@In the corporate realm, the 1986 law abolished the investment-tax credit, scaled back use of an accounting method that allowed large contractors to defer taxes until a project was completed and strengthened the so-called alternative minimum tax, a levy to ensure all money-making businesses pay some federal tax.@@@@1@48@@oe@2-2-2013
20812006@unknown@formal@none@1@S@The combination of lower rates and fewer loopholes has meant that the so-called average effective tax rate -- the rate actually paid -- of the 250 corporations surveyed reached 26.5% in 1988, compared with 14.3% in the years from 1981 through 1985, according to the study.@@@@1@46@@oe@2-2-2013
20812007@unknown@formal@none@1@S@In addition, corporations are now shouldering a bigger share of the tax burden, as the authors of the 1986 law hoped.@@@@1@21@@oe@2-2-2013
20812008@unknown@formal@none@1@S@Corporate taxes paid for almost 12% of federal spending in 1988 -- excluding Social Security -- compared with less than 8% in the first half of the 1980s, the study found.@@@@1@31@@oe@2-2-2013
20812009@unknown@formal@none@1@S@"Tax reform is working," the study said.@@@@1@7@@oe@2-2-2013
20812010@unknown@formal@none@1@S@"Under the new tax-reform law, the days of widespread, wholesale corporate tax avoidance have come to an end."@@@@1@18@@oe@2-2-2013
20812011@unknown@formal@none@1@S@Still, Kroger Co., Pinnacle West Capital Corp., CSX Corp., Illinois Power Co., Media General Inc., Santa Fe Southern Pacific Corp. and Gulf States Utilities Co., didn't pay any federal income tax last year although they garnered a total of $1.2 billion in profits, the group said.@@@@1@46@@oe@2-2-2013
20812012@unknown@formal@none@1@S@In fact, six of those companies received refunds, which totaled $120 million.@@@@1@12@@oe@2-2-2013
20812013@unknown@formal@none@1@S@The lobbying group used publicly available information to calculate each company's domestic profits and its federal income tax payments.@@@@1@19@@oe@2-2-2013
20812014@unknown@formal@none@1@S@This is the fifth year Citizens for Tax Justice has released a study on corporate tax bills.@@@@1@17@@oe@2-2-2013
20812015@unknown@formal@none@1@S@Earlier reports, which revealed that as many as 73 companies were avoiding income tax legally, have been credited with helping galvanize efforts to overhaul the tax code.@@@@1@27@@oe@2-2-2013
20812016@unknown@formal@none@1@S@But even though companies are paying more taxes, many are still paying less than the statutory rate, the report said.@@@@1@20@@oe@2-2-2013
20812017@unknown@formal@none@1@S@And 45 companies paid effective tax rates of below 10% of their income.@@@@1@13@@oe@2-2-2013
20812018@unknown@formal@none@1@S@"While the overall picture is very encouraging, significant corporate tax avoidance continues," the study said.@@@@1@15@@oe@2-2-2013
20812019@unknown@formal@none@1@S@Glenn Hall contributed to this article.@@@@1@6@@oe@2-2-2013
20813001@unknown@formal@none@1@S@F. Gil Troutman, 46 years old, was named chief executive officer.@@@@1@11@@oe@2-2-2013
20813002@unknown@formal@none@1@S@He retains his titles of president and chief operating officer and succeeds as chief executive Howard O. Painter Jr., who remains chairman of the board.@@@@1@25@@oe@2-2-2013
20813003@unknown@formal@none@1@S@DSP makes electronic instrumentation and data acquisition systems.@@@@1@8@@oe@2-2-2013
20814001@unknown@formal@none@1@S@In search of buyers for upscale department-store chains such as Bloomingdale's and Saks Fifth Avenue, investment bankers are turning to -- who else? The Japanese.@@@@1@25@@oe@2-2-2013
20814002@unknown@formal@none@1@S@But so far Japan's cash-rich retailers are proving to be cautious shoppers.@@@@1@12@@oe@2-2-2013
20814003@unknown@formal@none@1@S@"We have the money to buy.@@@@1@6@@oe@2-2-2013
20814004@unknown@formal@none@1@S@But operating a U.S. department-store chain would be very difficult," says Motoyuki Homma, managing director of the international division at Mitsukoshi Ltd., one of Japan's leading department stores.@@@@1@28@@oe@2-2-2013
20814005@unknown@formal@none@1@S@Japanese retail executives say the main reason they are reluctant to jump into the fray in the U.S. is that -- unlike manufacturing -- retailing is extremely sensitive to local cultures and life styles.@@@@1@34@@oe@2-2-2013
20814006@unknown@formal@none@1@S@The Japanese have watched the Europeans and Canadians stumble in the U.S. market, and they fret that business practices that have won them huge profits at home won't translate into success in the U.S.@@@@1@34@@oe@2-2-2013
20814007@unknown@formal@none@1@S@Japanese department stores are also wary of attracting negative publicity.@@@@1@10@@oe@2-2-2013
20814008@unknown@formal@none@1@S@After Sony Corp.'s recent headline-grabbing acquisition of Columbia Pictures, many say it makes good political sense to lie low.@@@@1@19@@oe@2-2-2013
20814009@unknown@formal@none@1@S@"It's a question of timing," says Mayumi Takayama, managing director of international operations at Isetan Co., a Tokyo department store.@@@@1@20@@oe@2-2-2013
20814010@unknown@formal@none@1@S@Still, for those with a long-term eye on the vast U.S. retail market, this is a tempting time to look for bargains.@@@@1@22@@oe@2-2-2013
20814011@unknown@formal@none@1@S@Britain's B.A.T Industries PLC is trying to unwind its U.S. retailing operations, which include such well-known stores as Saks Fifth Avenue, Marshall Field's, Breuners and Ivey's.@@@@1@26@@oe@2-2-2013
20814012@unknown@formal@none@1@S@And debt-ridden Campeau Corp. of Toronto is giving up the 17-store Bloomingdale's group.@@@@1@13@@oe@2-2-2013
20814013@unknown@formal@none@1@S@"Every department store in Japan is taking a look," says Mike Allen, a retail analyst at Barclay's de Zoete Wedd Securities (Japan) Ltd.@@@@1@23@@oe@2-2-2013
20814014@unknown@formal@none@1@S@Mr. Allen, however, doesn't think that Japan is about to embark on a major buying binge.@@@@1@16@@oe@2-2-2013
20814015@unknown@formal@none@1@S@Nonetheless, speculation heated up yesterday when Tokyu Department Store Co. confirmed a report in Nihon Keizai Shimbun, Japan's leading business daily, that Tokyu is talking with Campeau about buying Bloomingdale's.@@@@1@30@@oe@2-2-2013
20814016@unknown@formal@none@1@S@Tokyu, however, said no agreement had been reached.@@@@1@8@@oe@2-2-2013
20814017@unknown@formal@none@1@S@Nor is Tokyu the only Japanese retailer interested in Bloomingdale's, which bankers in Tokyo estimate could cost between $1 billion and $1.5 billion.@@@@1@23@@oe@2-2-2013
20814018@unknown@formal@none@1@S@Seven Japanese department-store groups were approached by investment bankers representing Bloomingdale's chairman, Marvin Traub, and more than half are seeking additional information on the group, bankers say.@@@@1@27@@oe@2-2-2013
20814019@unknown@formal@none@1@S@What Mr. Traub is hoping to put together, investment bankers say, is a management-led group to buy the New York department-store group that he heads from Campeau's Federated Department Stores subsidiary.@@@@1@31@@oe@2-2-2013
20814020@unknown@formal@none@1@S@Federated ran into a cash crunch after it was acquired last year by Campeau, which relied heavily on debt to finance the transaction.@@@@1@23@@oe@2-2-2013
20814021@unknown@formal@none@1@S@Paying off that debt put such a squeeze on Campeau and its stores that Federated decided to sell off the jewels of its retailing empire, including Bloomingdale's.@@@@1@27@@oe@2-2-2013
20814022@unknown@formal@none@1@S@Hoping to avoid another takeover, Mr. Traub retained Blackstone Group and Drexel Burnham Lambert Inc. to help him find partners for a management-led buy-out.@@@@1@24@@oe@2-2-2013
20814023@unknown@formal@none@1@S@Ideally, investment bankers say, he wants to get backing from a Japanese department store and a European department store to forge a global retailing network.@@@@1@25@@oe@2-2-2013
20814024@unknown@formal@none@1@S@"When you look at the economics, Traub needs a Japanese and a European partner to make it work," says one investment banker who follows the retail industry.@@@@1@27@@oe@2-2-2013
20814025@unknown@formal@none@1@S@"Looking only at a narrow American strategy isn't where it's at."@@@@1@11@@oe@2-2-2013
20814026@unknown@formal@none@1@S@Persuading tradition-bound Japanese retailers to get involved in the turmoils of the U.S. retailing industry isn't likely to be so easy, analysts say.@@@@1@23@@oe@2-2-2013
20814027@unknown@formal@none@1@S@Up until now, most stores have followed the same basic overseas strategy:@@@@1@12@@oe@2-2-2013
20814028@unknown@formal@none@1@S@First they set up overseas merchandising offices to import items and track new fashion trends.@@@@1@15@@oe@2-2-2013
20814029@unknown@formal@none@1@S@Then they opened small gift shops mostly aimed at Japanese tourists.@@@@1@11@@oe@2-2-2013
20814030@unknown@formal@none@1@S@Reluctant to advance further on their own, some stores have settled for tie-ups with famous specialty shops.@@@@1@17@@oe@2-2-2013
20814031@unknown@formal@none@1@S@Last March, Isetan invested 1.5 billion yen ($10.6 million) in a venture with Barney's Inc., an up-scale New York specialty clothier.@@@@1@21@@oe@2-2-2013
20814032@unknown@formal@none@1@S@The first Barney's shop is scheduled to open in Japan next year.@@@@1@12@@oe@2-2-2013
20814033@unknown@formal@none@1@S@And Mitsukoshi recently increased its equity stake in Tiffany & Co. to 13%.@@@@1@13@@oe@2-2-2013
20814034@unknown@formal@none@1@S@Through the longstanding relationship between the two companies, Mitsukoshi has opened 22 Tiffany shops in its stores and arcades in Japan.@@@@1@21@@oe@2-2-2013
20814035@unknown@formal@none@1@S@Plans are under way to open a Tiffany's in Hawaii to cater to Japanese tourists; it will be run mostly by Mitsukoshi.@@@@1@22@@oe@2-2-2013
20814036@unknown@formal@none@1@S@Some industry observers say that Mitsukoshi's classy image makes it a possible match for Saks Fifth Avenue.@@@@1@17@@oe@2-2-2013
20814037@unknown@formal@none@1@S@Company officials say they are studying various proposals but won't discuss details.@@@@1@12@@oe@2-2-2013
20814038@unknown@formal@none@1@S@Takashimaya Co., Japan's oldest department store, is another name that keeps popping up as a potential fit with Saks.@@@@1@19@@oe@2-2-2013
20814039@unknown@formal@none@1@S@Eiji Nakazato, a Takashimaya general manager, admits that his company's image is similar to Saks's and that there is some interest in the idea.@@@@1@24@@oe@2-2-2013
20814040@unknown@formal@none@1@S@But he stops there.@@@@1@4@@oe@2-2-2013
20814041@unknown@formal@none@1@S@"We'd like to do business in America," he says.@@@@1@9@@oe@2-2-2013
20814042@unknown@formal@none@1@S@"But it looks tough."@@@@1@4@@oe@2-2-2013
20814043@unknown@formal@none@1@S@Marcus W. Brauchli contributed to this article.@@@@1@7@@oe@2-2-2013
20814044@unknown@formal@none@1@S@Compiled by William Mathewson@@@@1@4@@oe@2-2-2013
20814045@unknown@formal@none@1@S@The Vatican was in the red last year.@@@@1@8@@oe@2-2-2013
20814046@unknown@formal@none@1@S@It said the regular 1988 deficit amounted to $43.5 million, based on revenue of $74.4 million and expenses of $117.9 million.@@@@1@21@@oe@2-2-2013
20814047@unknown@formal@none@1@S@But it said extraordinary expenditures for its radio station and restoration of buildings increased the deficit to $57.2 million.@@@@1@19@@oe@2-2-2013
20814048@unknown@formal@none@1@S@A statement from the council of cardinals said Catholics had responded generously to an appeal last year to give more money after 1987's record $63 million deficit.@@@@1@27@@oe@2-2-2013
20814049@unknown@formal@none@1@S@The statement said a 5% jump in the "Peter's Pence" collection -- the annual offering from Catholics to the pope -- helped cover the deficit.@@@@1@25@@oe@2-2-2013
20814050@unknown@formal@none@1@S@Council member Cardinal Gerald Carter of Toronto told Vatican Radio: "Now that we say we covered our deficit this year, people are going to relax and say well that's fine, the Holy See is out of the hole.@@@@1@38@@oe@2-2-2013
20814051@unknown@formal@none@1@S@But we're . . . going to be in the exact same situation next year."@@@@1@15@@oe@2-2-2013
20814052@unknown@formal@none@1@S@Former President Richard Nixon is to visit China at the invitation of the government beginning Saturday, the Foreign Ministry announced.@@@@1@20@@oe@2-2-2013
20814053@unknown@formal@none@1@S@According to Mr. Nixon's office, "This is solely a fact-finding trip.@@@@1@11@@oe@2-2-2013
20814054@unknown@formal@none@1@S@There will be no sightseeing, no shopping and no social events."@@@@1@11@@oe@2-2-2013
20814055@unknown@formal@none@1@S@Mr. Nixon's office said the former president "expects to have one-on-one discussions with the major Chinese leaders" and will give his assessment of those leaders to President Bush upon his return.@@@@1@31@@oe@2-2-2013
20814056@unknown@formal@none@1@S@A poll conducted in 12 of 16 NATO countries shows that the Dutch appear to be the strongest supporters of the alliance.@@@@1@22@@oe@2-2-2013
20814057@unknown@formal@none@1@S@The poll, conducted for the Dutch daily De Telegraaf by Gallup International said 81% of Dutch people supported NATO.@@@@1@19@@oe@2-2-2013
20814058@unknown@formal@none@1@S@Canada was the second most pro-NATO country with 78% supporting the alliance, followed by the U.S. with 75%, Britain with 71%, Belgium with 69% and West Germany with 63%.@@@@1@29@@oe@2-2-2013
20814059@unknown@formal@none@1@S@All other countries registered support below 50%.@@@@1@7@@oe@2-2-2013
20814060@unknown@formal@none@1@S@The Israeli Manufacturers' Association filed a police complaint against an Arab pasta maker for using the four colors of the outlawed Palestinian flag on spaghetti packages.@@@@1@26@@oe@2-2-2013
20814061@unknown@formal@none@1@S@"We asked police to investigate why they are allowed to distribute the flag in this way.@@@@1@16@@oe@2-2-2013
20814062@unknown@formal@none@1@S@It should be considered against the law," said Danny Leish, a spokesman for the association.@@@@1@15@@oe@2-2-2013
20814063@unknown@formal@none@1@S@The spaghetti is made by the Al Ghazel Macaroni Co. in Bethlehem and is marketed in a package decorated with green, black, red and white stripes.@@@@1@26@@oe@2-2-2013
20814064@unknown@formal@none@1@S@British postal authorities say they have uncovered a large-scale scheme where unscrupulous stamp dealers chemically removed stamp cancellations, regummed the stamps and sold them to U.S. collectors or, in large lots, to British businesses.@@@@1@34@@oe@2-2-2013
20814065@unknown@formal@none@1@S@The scheme allegedly cost the post office #10 million ($16.1) in revenue in the past 12 months.@@@@1@17@@oe@2-2-2013
20814066@unknown@formal@none@1@S@Dealers bought the used stamps cheaply from charities, including the Guide Dogs for the Blind Association.@@@@1@16@@oe@2-2-2013
20814067@unknown@formal@none@1@S@The charities regularly sell used stamps, which they collect from children and other donors, to raise funds.@@@@1@17@@oe@2-2-2013
20814068@unknown@formal@none@1@S@Akio Tanii, president of Japan's Matsushita Electric Industrial Co., presented the U.S. consul general in Osaka with a $1 million check to help San Francisco's earthquake victims.@@@@1@27@@oe@2-2-2013
20814069@unknown@formal@none@1@S@The company's U.S. subsidiary, Matsushita Electric Corp. of America, had donated over $35,000 worth of Matsushita-made flashlights and batteries to residents shortly after the disaster, a company spokesman said.@@@@1@29@@oe@2-2-2013
20814070@unknown@formal@none@1@S@Several other Japanese companies and regional governments have sent aid to San Francisco.@@@@1@13@@oe@2-2-2013
20814071@unknown@formal@none@1@S@Sumitomo Bank donated $500,000, Tokyo prefecture $15,000 and the city of Osaka $10,000.@@@@1@13@@oe@2-2-2013
20814072@unknown@formal@none@1@S@Chinese officials are trying to use the Canton Trade Fair to lure back overseas traders after the bloody crackdown on dissent.@@@@1@21@@oe@2-2-2013
20814073@unknown@formal@none@1@S@But attendance is down from previous years.@@@@1@7@@oe@2-2-2013
20814074@unknown@formal@none@1@S@What's more, a Hong Kong textile trader says, some Chinese exporters from state-run enterprises are protesting the crackdown by dragging their feet on soliciting new business.@@@@1@26@@oe@2-2-2013
20814075@unknown@formal@none@1@S@"They are angry about the government . . . so they hold back the goods," he said.@@@@1@17@@oe@2-2-2013
20814076@unknown@formal@none@1@S@This autumn's edition of the biannual fair will run through Oct. 31.@@@@1@12@@oe@2-2-2013
20814077@unknown@formal@none@1@S@Inside the 156,000-square-yard glass exhibition complex, products ranging from clothing to AK-47 machine guns are on display.@@@@1@17@@oe@2-2-2013
20814078@unknown@formal@none@1@S@Fair officials say that 21,000 guests visited during the first five days, a 10% drop from the spring exhibition.@@@@1@19@@oe@2-2-2013
20814079@unknown@formal@none@1@S@But China's official Xinhua News Agency reported that the number of foreign businessmen was greater than the previous fair -- without providing statistics.@@@@1@23@@oe@2-2-2013
20814080@unknown@formal@none@1@S@In another sign of glasnost, Alexander Solzhenitsyn's long-banned chronicle of Soviet repression, "The Gulag Archipelago," is now recommended reading in one 11th-grade Moscow history class. . . .@@@@1@28@@oe@2-2-2013
20814081@unknown@formal@none@1@S@British customs officers said they'd arrested eight men sneaking 111 rare snakes into Britain -- including one man who strapped a pair of boa constrictors under his armpits.@@@@1@28@@oe@2-2-2013
20814082@unknown@formal@none@1@S@A customs official said the arrests followed a "Snake Day" at Utrecht University in the Netherlands, an event used by some collectors as an opportunity to obtain rare snakes.@@@@1@29@@oe@2-2-2013
20815001@unknown@formal@none@1@S@Di Giorgio Corp. said it's continuing talks with potential buyers of certain units, but has reached no agreement on any deals.@@@@1@21@@oe@2-2-2013
20815002@unknown@formal@none@1@S@Di Giorgio, a food wholesaler and building products maker, is seeking alternatives to an unsolicited $32-a-share tender offer of DIG Acquisition Corp., a unit of Rose Partners Limited Partnership.@@@@1@29@@oe@2-2-2013
20815003@unknown@formal@none@1@S@DIG is the vehicle being used to pursue to acquisition.@@@@1@10@@oe@2-2-2013
20815004@unknown@formal@none@1@S@Robert Mellor, Di Giorgio's executive vice president, said the company stands to reap more money through the sale of individual units to others than by accepting DIG's offer.@@@@1@28@@oe@2-2-2013
20816001@unknown@formal@none@1@S@Some lousy earnings reports whacked the stock market, but bond prices fell only slightly and the dollar rose a little against most major currencies.@@@@1@24@@oe@2-2-2013
20816002@unknown@formal@none@1@S@The Dow Jones Industrial Average tumbled 39.55 points, to 2613.73, in active trading.@@@@1@13@@oe@2-2-2013
20816003@unknown@formal@none@1@S@Long-term Treasury bonds ended slightly higher.@@@@1@6@@oe@2-2-2013
20816004@unknown@formal@none@1@S@The dollar rose modestly against the mark and the yen, but soared against the pound following the resignation of Britain's chancellor of the Exchequer, Nigel Lawson.@@@@1@26@@oe@2-2-2013
20816005@unknown@formal@none@1@S@Analysts have complained that third-quarter corporate earnings haven't been very good, but the effect hit home particularly hard yesterday.@@@@1@19@@oe@2-2-2013
20816006@unknown@formal@none@1@S@Compaq Computer nose-dived $8.625 a share, to $100, and pulled other technology issues lower after reporting lower-than-expected earnings after the stock market closed Wednesday.@@@@1@24@@oe@2-2-2013
20816007@unknown@formal@none@1@S@Later yesterday the nation's major auto makers added to the gloom when they each reported their core auto operations were net losers in the third quarter.@@@@1@26@@oe@2-2-2013
20816008@unknown@formal@none@1@S@The less-than-robust third-quarter results came amid renewed concern about the volatility of stock prices and the role of computer-aided program trading.@@@@1@21@@oe@2-2-2013
20816009@unknown@formal@none@1@S@Taken together, the worries prompted a broad sell-off of stocks.@@@@1@10@@oe@2-2-2013
20816010@unknown@formal@none@1@S@The number of stocks on the New York Stock Exchange that fell in price yesterday exceeded 1,000, a key measure of underlying sentiment among technical analysts.@@@@1@26@@oe@2-2-2013
20816011@unknown@formal@none@1@S@Although the government said the economy grew an estimated 2.5% in the third quarter, in line with expectations, analysts are increasingly predicting much more sluggish growth -- and therefore more corporate earnings disappointments -- for the fourth quarter.@@@@1@38@@oe@2-2-2013
20816012@unknown@formal@none@1@S@"There are a lot more downward revisions of earnings forecasts than upward revisions," said Abby Joseph Cohen, a market strategist at Drexel Burnham Lambert.@@@@1@24@@oe@2-2-2013
20816013@unknown@formal@none@1@S@"People are questioning corporate profits as a pillar of support for the equity market."@@@@1@14@@oe@2-2-2013
20816014@unknown@formal@none@1@S@The bond market was unmoved by the economic statistics.@@@@1@9@@oe@2-2-2013
20816015@unknown@formal@none@1@S@While bond investors would have preferred growth to be a little slower, they were cheered by inflation measures in the data that showed prices rising at a modest annual rate of 2.9%.@@@@1@32@@oe@2-2-2013
20816016@unknown@formal@none@1@S@That is another small encouragement for the Federal Reserve to lower interest rates in coming weeks, they reasoned.@@@@1@18@@oe@2-2-2013
20816017@unknown@formal@none@1@S@In major market activity:@@@@1@4@@oe@2-2-2013
20816018@unknown@formal@none@1@S@Stock prices fell sharply in active trading.@@@@1@7@@oe@2-2-2013
20816019@unknown@formal@none@1@S@Volume on the New York Stock Exchange totaled 175.2 million shares.@@@@1@11@@oe@2-2-2013
20816020@unknown@formal@none@1@S@Declining issues on the Big Board outstripped gainers 1,141 to 406.@@@@1@11@@oe@2-2-2013
20816021@unknown@formal@none@1@S@Bond prices were barely higher.@@@@1@5@@oe@2-2-2013
20816022@unknown@formal@none@1@S@The Treasury's benchmark 30-year rose fractionally.@@@@1@6@@oe@2-2-2013
20816023@unknown@formal@none@1@S@Yield on the issue was 7.88%.@@@@1@6@@oe@2-2-2013
20816024@unknown@formal@none@1@S@The dollar rose modestly against most major currencies.@@@@1@8@@oe@2-2-2013
20816025@unknown@formal@none@1@S@In late New York trading the dollar was at 1.8400 marks and 142.10 yen compared with 1.8353 marks and 141.52 yen Wednesday.@@@@1@22@@oe@2-2-2013
20816026@unknown@formal@none@1@S@The dollar soared against the pound, which was at $1.5765 compared with $1.6145 Wednesday.@@@@1@14@@oe@2-2-2013
20817001@unknown@formal@none@1@S@The House joined the Senate in making federal reparations for Japanese-Americans held in World War II internment camps a legal entitlement requiring the Treasury Department to meet expedited payments of an estimated $1.25 billion during the next several years.@@@@1@39@@oe@2-2-2013
20817002@unknown@formal@none@1@S@The 249-166 roll call came as the chamber approved a compromise bill allocating $17.2 billion to the departments of State, Justice, and Commerce in fiscal 1990 and imposing increased fees on business interests making filings with the government.@@@@1@38@@oe@2-2-2013
20817003@unknown@formal@none@1@S@An estimated $40 million would come annually from a new $20,000 charge on pre-merger notifications to the Justice Department, and Securities and Exchange Commission filing fees would rise by 25% to fund a $26 million increase in the agency's budget.@@@@1@40@@oe@2-2-2013
20817004@unknown@formal@none@1@S@Yesterday's vote on Japanese-American reparations ensures final enactment of the entitlement provision, which abandons earlier efforts to find offsetting cuts but is seen as a more realistic path to expediting compensation first authorized in 1988.@@@@1@35@@oe@2-2-2013
20817005@unknown@formal@none@1@S@"The only way to reduce the costs is to say we don't want to pay the bill," said Rep. Neal Smith (D., Iowa), who taunted President Bush's party to back up his campaign promise of supporting the claims of $20,000 per individual.@@@@1@42@@oe@2-2-2013
20817006@unknown@formal@none@1@S@"Read my lips," said Mr. Smith.@@@@1@6@@oe@2-2-2013
20817007@unknown@formal@none@1@S@"If you're for paying the claims . . . I don't know how anyone can oppose this."@@@@1@17@@oe@2-2-2013
20817008@unknown@formal@none@1@S@No payments would be made this year, but beginning in fiscal 1991, the bill commits the government to annual payments of as much as $500 million until the total liability of $1.25 billion is met.@@@@1@35@@oe@2-2-2013
20817009@unknown@formal@none@1@S@The issue has assumed some of the character of past civil-rights debates and reopens old regional divisions in the Democratic majority.@@@@1@21@@oe@2-2-2013
20817010@unknown@formal@none@1@S@As much as Republicans led the opposition, among the 53 Democrats voting against treating the payments as an entitlement, 42 came from the 13 states in the Old Dixiecrat South and its borders.@@@@1@33@@oe@2-2-2013
20817011@unknown@formal@none@1@S@The odd mix of departments in the underlying bill makes it one of the more eclectic of the annual appropriations measures, and it is a lightning rod for a running battle over the fate of the Legal Services Corp.@@@@1@39@@oe@2-2-2013
20817012@unknown@formal@none@1@S@The measure provides $321 million to maintain services but would sharply curb the power of the current board until successors are agreed to by the Bush administration.@@@@1@27@@oe@2-2-2013
20817013@unknown@formal@none@1@S@The conservative bent of the incumbent appointees, named by former President Reagan, has divided Republicans.@@@@1@15@@oe@2-2-2013
20817014@unknown@formal@none@1@S@And on back-to-back roll calls, 206-199 and 223-178, the Appropriations Committee leadership turned back efforts to weaken or strip the proposed restrictions first added by Sen. Warren Rudman (R., N.H.)@@@@1@30@@oe@2-2-2013
20817015@unknown@formal@none@1@S@The estimated $40 million from the new pre-merger notification fee would be divided between the Justice Department's Antitrust Division and the Federal Trade Commission, which both face serious cuts if the income isn't realized.@@@@1@34@@oe@2-2-2013
20817016@unknown@formal@none@1@S@The Federal Bureau of Investigation is slated to receive $30 million by charging for fingerprint services in civil cases, and the judiciary will rely on another $32 million from bankruptcy charges, including a 33% increase in the current filing fee.@@@@1@40@@oe@2-2-2013
20817017@unknown@formal@none@1@S@The $17.2 billion total for the bill doesn't include an estimated $1.2 billion in supplemental anti-drug funds approved by the House-Senate conference yesterday, and the rush of money is already provoking jealousy among states competing for assistance.@@@@1@37@@oe@2-2-2013
20817018@unknown@formal@none@1@S@The House agreed to defer for a year a scheduled 50% increase in the required state matching funds for law-enforcement grants but, by a 287-123 margin, the chamber stripped a Senate initiative to raise the minimum grant for smaller states, such as New Hampshire and Delaware, to $1.6 million from $500,000.@@@@1@51@@oe@2-2-2013
20817019@unknown@formal@none@1@S@Few are more powerful in the competition for funds than the appropriations committees themselves -- including the three authors of the Gramm-Rudman-Hollings deficit-reduction law.@@@@1@24@@oe@2-2-2013
20817020@unknown@formal@none@1@S@When a House-Senate conference on yesterday's bill rescinded $11.8 million in unexpended funds for a Fort Worth, Texas, economic development project backed by former Speaker James Wright, Sen. Phil Gramm (R., Texas) insisted last week that the money be preserved.@@@@1@40@@oe@2-2-2013
20817021@unknown@formal@none@1@S@The measure includes $2 million secured by Mr. Rudman for a marine-research project at the University of New Hampshire, and Sen. Ernest Hollings (D., S.C.) used his power to add $10 million for an advanced technology initiative in the Commerce Department.@@@@1@41@@oe@2-2-2013
20817022@unknown@formal@none@1@S@This was in addition to a more parochial $4.5 million authorization for a health center in South Carolina upheld by a 273-121 vote in the House last night.@@@@1@28@@oe@2-2-2013
20818001@unknown@formal@none@1@S@The Big Three U.S. auto makers posted losses in their core North American automotive businesses for the third quarter, and expectations of continued slow vehicle sales and price wars are casting a pall over the fourth period.@@@@1@37@@oe@2-2-2013
20818002@unknown@formal@none@1@S@The strongest sign of the Big Three's woes came from Ford Motor Co., which said it had a loss in its U.S. automotive business for the first time since 1982.@@@@1@30@@oe@2-2-2013
20818003@unknown@formal@none@1@S@Ford predicted fourth-quarter net income will fall below the year-earlier level, partly because of a likely $500 million charge from the sale of its steel operations.@@@@1@26@@oe@2-2-2013
20818004@unknown@formal@none@1@S@The bleak automotive results were offset by strong earnings from some non-automotive operations.@@@@1@13@@oe@2-2-2013
20818005@unknown@formal@none@1@S@Still, the combined profit of Ford, Chrysler Corp. and General Motors Corp. fell 44% to $1.02 billion from $1.83 billion a year earlier, excluding a one-time gain of $309 million at Chrysler from the sale of Mitsubishi Motors Corp. stock.@@@@1@40@@oe@2-2-2013
20818006@unknown@formal@none@1@S@The last time all three companies reported North American automotive losses was in the recession year of 1982.@@@@1@18@@oe@2-2-2013
20818007@unknown@formal@none@1@S@Yesterday's announcements helped spark a midday wave of program selling in the stock market.@@@@1@14@@oe@2-2-2013
20818008@unknown@formal@none@1@S@GM's common closed at $44.375 a share, down 50 cents, Ford fell 37.5 cents to end at $47.50, and Chrysler eased 37.5 cents to $22.25, all in New York Stock Exchange composite trading.@@@@1@33@@oe@2-2-2013
20818009@unknown@formal@none@1@S@The market's pessimism reflects the gloomy outlook in Detroit.@@@@1@9@@oe@2-2-2013
20818010@unknown@formal@none@1@S@As Japanese auto makers gained market share, the Big Three, with GM in the lead, slashed North American production and launched a retail discounting blitz.@@@@1@25@@oe@2-2-2013
20818011@unknown@formal@none@1@S@The price war peaked in the third quarter as Big Three factory discounts climbed to more than $1,000 a vehicle, according to industry officials.@@@@1@24@@oe@2-2-2013
20818012@unknown@formal@none@1@S@GM probably had the "heaviest incentives," said Robert S. Miller, Chrysler's chief financial officer.@@@@1@14@@oe@2-2-2013
20818013@unknown@formal@none@1@S@"We all did what we had to do to stay within sight of them."@@@@1@14@@oe@2-2-2013
20818014@unknown@formal@none@1@S@But the costly efforts did little to slow Japanese market gains, and domestic car sales have plunged 19% since the Big Three ended many of their programs Sept. 30.@@@@1@29@@oe@2-2-2013
20818015@unknown@formal@none@1@S@GM, Ford and Chrysler have already cut fourth-quarter U.S. output plans an estimated 15% from 1988 levels.@@@@1@17@@oe@2-2-2013
20818016@unknown@formal@none@1@S@If sales don't pick up, the cuts will go deeper and incentives will sprout again.@@@@1@15@@oe@2-2-2013
20818017@unknown@formal@none@1@S@Ford, which has long boasted of its ability to weather a downturn, saw earnings take a beating.@@@@1@17@@oe@2-2-2013
20818018@unknown@formal@none@1@S@The No. 2 auto maker blamed incentive costs and reduced production -- both the result of a substantially weaker U.S. market -- for a 44% drop in net to $477.1 million, or $1.03 a share, on revenue of $20.24 billion.@@@@1@40@@oe@2-2-2013
20818019@unknown@formal@none@1@S@Nearly all the decline came in Ford's U.S. automotive operations.@@@@1@10@@oe@2-2-2013
20818020@unknown@formal@none@1@S@The Dearborn, Mich., auto maker ran a loss of $37 million on assembling and marketing cars in the U.S., a deterioration of $378 million in that line from the 1988 quarter.@@@@1@31@@oe@2-2-2013
20818021@unknown@formal@none@1@S@Ford managed to show a profit for the quarter primarily because of earnings from overseas auto operations and financial services.@@@@1@20@@oe@2-2-2013
20818022@unknown@formal@none@1@S@A year earlier, Ford reported record net of $856.3 million, or $1.78 a share, on revenue of $20.38 billion.@@@@1@19@@oe@2-2-2013
20818023@unknown@formal@none@1@S@In the latest nine months, Ford earned $3.52 billion, or $7.51 a share, compared with $4.14 billion, or $8.53 a share.@@@@1@21@@oe@2-2-2013
20818024@unknown@formal@none@1@S@The U.S. automotive loss was a sharp reversal for a company that had reeled off 12 consecutive quarters of improved earnings until the 1989 second quarter.@@@@1@26@@oe@2-2-2013
20818025@unknown@formal@none@1@S@But David N. McCammon, vice president, finance, insisted that cost-cutting and tight production capacity will make results "better in this downturn than in prior downturns," when Ford had net losses.@@@@1@30@@oe@2-2-2013
20818026@unknown@formal@none@1@S@Still, Mr. McCammon said Ford expects the U.S. economy to weaken through the end of 1990, causing weaker sales and production.@@@@1@21@@oe@2-2-2013
20818027@unknown@formal@none@1@S@As a result, fourth-quarter profit will come in below 1988 results, although the drop won't be as sharp as the 44% third-quarter decline, he said.@@@@1@25@@oe@2-2-2013
20818028@unknown@formal@none@1@S@Part of the drop will come from an anticipated charge of as much as $500 million from the proposed sale of its Rouge Steel unit.@@@@1@25@@oe@2-2-2013
20818029@unknown@formal@none@1@S@In the 1988 fourth quarter, Ford had net of $1.16 billion, or $2.42 a share.@@@@1@15@@oe@2-2-2013
20818030@unknown@formal@none@1@S@Chrysler's operating profit fell to a scant $22 million, or 10 cents a share, its lowest quarterly total in seven years.@@@@1@21@@oe@2-2-2013
20818031@unknown@formal@none@1@S@Its $309 million, or $1.32 a share, gain from the sale of 75 million Mitsubishi shares made net $331 million, or $1.42 a share.@@@@1@24@@oe@2-2-2013
20818032@unknown@formal@none@1@S@Sales were flat at $7.88 billion.@@@@1@6@@oe@2-2-2013
20818033@unknown@formal@none@1@S@The results include record quarterly earnings of $76 million from Chrysler Financial Corp.@@@@1@13@@oe@2-2-2013
20818034@unknown@formal@none@1@S@A year earlier, Chrysler's net was $113 million, or 50 cents a share.@@@@1@13@@oe@2-2-2013
20818035@unknown@formal@none@1@S@Mr. Miller said costs of incentives caused a "moderate" loss in the Highland Park, Mich., company's North American car and truck business.@@@@1@22@@oe@2-2-2013
20818036@unknown@formal@none@1@S@He said the loss wasn't "that much different" from Ford's $37 million loss on U.S. automotive operations, but he declined to be specific.@@@@1@23@@oe@2-2-2013
20818037@unknown@formal@none@1@S@Mr. Miller said Chrysler spent an average of $1,000 a vehicle on its incentive programs in the third quarter, compared with about $450 a vehicle a year earlier -- a "high-water mark" at the time.@@@@1@35@@oe@2-2-2013
20818038@unknown@formal@none@1@S@He said Chrysler "is no longer sure" of its forecast for industry car and truck sales of 14.2 million in the 1990 model year.@@@@1@24@@oe@2-2-2013
20818039@unknown@formal@none@1@S@Consumers, he said, are balking at higher prices on 1990 cars, especially after seeing the incentive-reduced prices on 1989 models.@@@@1@20@@oe@2-2-2013
20818040@unknown@formal@none@1@S@In the nine months, net was $1.02 billion, or $4.38 a share, including the gain from the Mitsubishi stock sale, compared with $617 million, or $2.77 a share, after a charge of $93 million, or 42 cents a share, for plant closings in the 1988 period.@@@@1@46@@oe@2-2-2013
20818041@unknown@formal@none@1@S@Sales rose 8.4% to $27.95 billion from $25.78 billion.@@@@1@9@@oe@2-2-2013
20818042@unknown@formal@none@1@S@Heavy losses in North American auto operations sent GM's net tumbling to $516.9 million from a record $859.2 million.@@@@1@19@@oe@2-2-2013
20818043@unknown@formal@none@1@S@Detroit-based GM doesn't issue separate quarterly earnings for the North American automotive business.@@@@1@13@@oe@2-2-2013
20818044@unknown@formal@none@1@S@But analysts estimated that GM had a loss of as much as $300 million on domestic vehicle operations.@@@@1@18@@oe@2-2-2013
20818045@unknown@formal@none@1@S@An 8.5% drop in North American factory sales of cars and trucks cut into revenue, and rebates to dealers and customers more than offset gains from price increases on 1990 model vehicles delivered during the period, a GM spokesman said.@@@@1@40@@oe@2-2-2013
20818046@unknown@formal@none@1@S@But GM's results also illustrate the increasing diversity of its operations.@@@@1@11@@oe@2-2-2013
20818047@unknown@formal@none@1@S@In one breakdown, GM attributed half of its net to its two big technology units, Electronic Data Systems Corp. and GM Hughes Electronics Corp.@@@@1@24@@oe@2-2-2013
20818048@unknown@formal@none@1@S@Meanwhile, GM said overseas auto operations are on track to exceed last year's record full-year net of $2.7 billion.@@@@1@19@@oe@2-2-2013
20818049@unknown@formal@none@1@S@The diversified operations helped GM build its cash reserves, exclusive of its financial subsidiary, to $5.5 billion as of Sept. 30, a 22% increase from a year earlier.@@@@1@28@@oe@2-2-2013
20818050@unknown@formal@none@1@S@This cushion could come in handy if GM has to trim fourth-quarter North American production schedules more than the already scheduled 9.5%.@@@@1@22@@oe@2-2-2013
20818051@unknown@formal@none@1@S@Under the circumstances, it won't be easy for GM to exceed its record 1988 fourth-quarter net of $1.4 billion, the spokesman acknowledged.@@@@1@22@@oe@2-2-2013
20818052@unknown@formal@none@1@S@That means it's unlikely the company will surpass last year's $4.9 billion full-year profit, even though net for the first nine months was up 1.9% to $3.52 billion on revenue of $95.57 billion.@@@@1@33@@oe@2-2-2013
20818053@unknown@formal@none@1@S@It earned $3.46 billion on revenue of $91.21 billion in the 1988 nine months.@@@@1@14@@oe@2-2-2013
20819001@unknown@formal@none@1@S@There are two versions of "Measure for Measure" on stage at the Alley Theater here.@@@@1@15@@oe@2-2-2013
20819002@unknown@formal@none@1@S@One is a strong, vigorous portrayal of Shakespeare's play; the other is director Gregory Boyd's overlay of present-day punk rock decadence on old Vienna.@@@@1@24@@oe@2-2-2013
20819003@unknown@formal@none@1@S@"Measure for Measure" is one of Shakespeare's "problem" plays, so named because it does not fit neatly into a category such as tragedy, comedy or history.@@@@1@26@@oe@2-2-2013
20819004@unknown@formal@none@1@S@Its ambiguity and uneasy mixture of the serious and the comic is no doubt one reason why it is very much in vogue with directors just now.@@@@1@27@@oe@2-2-2013
20819005@unknown@formal@none@1@S@Last season, Hartford Stage director Mark Lamos mounted a production at Lincoln Center, and currently two other productions -- one just closed at the Old Globe in San Diego and another now at the Seattle Rep -- overlap with Mr. Boyd's.@@@@1@41@@oe@2-2-2013
20819006@unknown@formal@none@1@S@In the play, the Duke of Vienna despairs over the licentiousness of his subjects and turns over the rule of the city to the puritanical Angelo, hoping he can set things right.@@@@1@32@@oe@2-2-2013
20819007@unknown@formal@none@1@S@When Angelo hears that the young man Claudio has made his fiancee pregnant before he could marry her, Angelo summarily condemns Claudio to death.@@@@1@24@@oe@2-2-2013
20819008@unknown@formal@none@1@S@When, however, Claudio's sister, Isabella, a novitiate in a convent, goes to Angelo to plead her brother's case, the obdurate ruler immediately falls in love with her and, in a supreme act of hypocrisy, demands that Isabella yield up her virtue to him in exchange for her brother's life.@@@@1@49@@oe@2-2-2013
20819009@unknown@formal@none@1@S@Meanwhile, the Duke, who set the original scheme in motion, appears on the scene disguised as a friar and becomes involved in a series of intrigues that has everyone fearing the worst possible outcome until the Duke arranges a last minute reprieve for all concerned.@@@@1@45@@oe@2-2-2013
20819010@unknown@formal@none@1@S@For the Alley production, scene designer Peter David Gould has arranged a stark but extremely effective set featuring a rectangular platform of white-washed boards that extends into the audience.@@@@1@29@@oe@2-2-2013
20819011@unknown@formal@none@1@S@When the action requires, a prison cell, consisting of an enlarged wire cage, rolls forward on iron wheels on the platform.@@@@1@21@@oe@2-2-2013
20819012@unknown@formal@none@1@S@In the play's major scenes Mr. Boyd demonstrates that he has a firm grasp of the Shakespearean dynamic.@@@@1@18@@oe@2-2-2013
20819013@unknown@formal@none@1@S@When Isabella (Ellen Lauren) confronts her brother Claudio (Matt Loney) in his cell, explaining the price she has been asked to secure his freedom; when Isabella and the disguised Duke (Philip Kerr) conspire to trick Angelo; and when Mariana (Annalee Jefferies), a woman wronged by Angelo, confronts him with his past misdeeds, the performers bring the dramatic high points to life with intense energy and intelligence.@@@@1@66@@oe@2-2-2013
20819014@unknown@formal@none@1@S@At such moments Mr. Boyd makes it clear that he has the capacity to be a superior interpreter of Shakespeare.@@@@1@20@@oe@2-2-2013
20819015@unknown@formal@none@1@S@When, however, he decides to be modern, or more accurately, when he decides to be trendy, the results are far less satisfactory.@@@@1@22@@oe@2-2-2013
20819016@unknown@formal@none@1@S@Mr. Boyd is of the directorial school that believes one must find modern parallels or metaphors to make Shakespeare accessible to today's audiences.@@@@1@23@@oe@2-2-2013
20819017@unknown@formal@none@1@S@It's a valid approach, but it puts a heavy burden on the director to show an uncommon degree of imagination and taste.@@@@1@22@@oe@2-2-2013
20819018@unknown@formal@none@1@S@In his "Measure," Mr. Boyd has "modernized" the pimps and prostitutes of Vienna whom Angelo is supposed to bring under control by converting them into transvestites, punk rockers and heavy metal types, with a strong emphasis on leather, chains and porno-inspired costumes.@@@@1@42@@oe@2-2-2013
20819019@unknown@formal@none@1@S@Loud rock music accompanies all the scene changes, even those in the convent.@@@@1@13@@oe@2-2-2013
20819020@unknown@formal@none@1@S@When Claudio is arrested, he is brought on stage nude except for the manacles on his wrists and ankles.@@@@1@19@@oe@2-2-2013
20819021@unknown@formal@none@1@S@When the opportunist Lucio (Jack Stehlin) visits the convent to inform Isabella of her brother's fate, Lucio not only slaps the mother superior on her rear, but brings along a voluptuous companion (Jill Powell), not in Shakespeare's script, to undulate lasciviously.@@@@1@41@@oe@2-2-2013
20819022@unknown@formal@none@1@S@Meanwhile, the pimp Pompey (Glen Allen Pruett), dressed in black leather and a prominent codpiece, indulges in enough obscene gestures and pelvic thrusts to launch a space probe.@@@@1@28@@oe@2-2-2013
20819023@unknown@formal@none@1@S@The problem here is not in the concept but in its lack of discrimination.@@@@1@14@@oe@2-2-2013
20819024@unknown@formal@none@1@S@The inclusion at one point, for example, of a list of glitzy modern-day malefactors, ranging from Jim Bakker and Leona Helmsley to Zsa Zsa Gabor, is a bid for a cheap laugh unworthy of Mr. Boyd's ability.@@@@1@37@@oe@2-2-2013
20819025@unknown@formal@none@1@S@Despite the excesses, however, the scorecard for the production has many more pluses than minuses.@@@@1@15@@oe@2-2-2013
20819026@unknown@formal@none@1@S@What's more, it represents an important step for the Alley Theater.@@@@1@11@@oe@2-2-2013
20819027@unknown@formal@none@1@S@"Measure for Measure" is Mr. Boyd's first directorial assignment as the theater's new artistic director.@@@@1@15@@oe@2-2-2013
20819028@unknown@formal@none@1@S@He succeeded Pat Brown, who was fired by the Alley board 18 months ago.@@@@1@14@@oe@2-2-2013
20819029@unknown@formal@none@1@S@Her dismissal angered many in the regional theater establishment and led Peter Zeisler, head of Theatre Communications Group, to write an editorial in American Theatre magazine condemning the board.@@@@1@29@@oe@2-2-2013
20819030@unknown@formal@none@1@S@None of this backlash could change the fact that Ms. Brown's regime was remarkably undistinguished and unimaginative.@@@@1@17@@oe@2-2-2013
20819031@unknown@formal@none@1@S@Now the Alley has moved ahead on both artistic and financial fronts.@@@@1@12@@oe@2-2-2013
20819032@unknown@formal@none@1@S@Not only is Mr. Boyd giving the theater a new sense of adventure and excitement on stage, the balance sheet is the best the theater has had in 10 years.@@@@1@30@@oe@2-2-2013
20819033@unknown@formal@none@1@S@As opposed to the $1.4 million deficit of the 1987-88 season, the 1988-89 year concluded with a $200,000 surplus and a $500,000 cash reserve.@@@@1@24@@oe@2-2-2013
20819034@unknown@formal@none@1@S@Admittedly last season's runaway hit, "Steel Magnolias," helped a lot, but so did cost cutting and other measures insisted on by the board.@@@@1@23@@oe@2-2-2013
20819035@unknown@formal@none@1@S@Only time will tell if Mr. Boyd can restore to the Alley the acclaim it received when its founder, Nina Vance, was at the height of her powers.@@@@1@28@@oe@2-2-2013
20819036@unknown@formal@none@1@S@But it is clear he is going to give it a shot.@@@@1@12@@oe@2-2-2013
20820001@unknown@formal@none@1@S@Democratic leaders have bottled up President Bush's capital-gains tax cut in the Senate and may be able to prevent a vote on the issue indefinitely.@@@@1@25@@oe@2-2-2013
20820002@unknown@formal@none@1@S@Senate Majority Leader George Mitchell (D., Maine) said he intends to use Senate procedures to force advocates of the tax cut to come up with at least 60 votes before they can address the issue.@@@@1@35@@oe@2-2-2013
20820003@unknown@formal@none@1@S@And neither Democrats nor Republicans are predicting that the capital-gains forces can produce enough votes.@@@@1@15@@oe@2-2-2013
20820004@unknown@formal@none@1@S@"The 60-vote requirement will be there and they don't have the 60 votes," Sen. Mitchell said.@@@@1@16@@oe@2-2-2013
20820005@unknown@formal@none@1@S@"They don't have the votes to get it passed."@@@@1@9@@oe@2-2-2013
20820006@unknown@formal@none@1@S@Sen. Bob Packwood (R., Ore.), the leading Republican proponent of the tax cut, didn't disagree.@@@@1@15@@oe@2-2-2013
20820007@unknown@formal@none@1@S@"I'm not sure what's going to happen," he said.@@@@1@9@@oe@2-2-2013
20820008@unknown@formal@none@1@S@Previously he had said he would be able to find the requisite 60 votes eventually.@@@@1@15@@oe@2-2-2013
20820009@unknown@formal@none@1@S@Sen. Packwood has offered his capital-gains-cut package as an amendment to a bill, now pending in the Senate, that would authorize aid to Poland and Hungary.@@@@1@26@@oe@2-2-2013
20820010@unknown@formal@none@1@S@Democrats are holding up a vote on the amendment by threatening a filibuster, or extended debate.@@@@1@16@@oe@2-2-2013
20820011@unknown@formal@none@1@S@For a cloture vote to stop the filibuster, Republicans must muster at least 60 votes.@@@@1@15@@oe@2-2-2013
20820012@unknown@formal@none@1@S@Yesterday, Sen. Packwood acknowledged, "We don't have the votes for cloture today."@@@@1@12@@oe@2-2-2013
20820013@unknown@formal@none@1@S@The Republicans show no sign of relenting.@@@@1@7@@oe@2-2-2013
20820014@unknown@formal@none@1@S@GOP leaders continued to press for a vote on the amendment to the Eastern Europe aid measure.@@@@1@17@@oe@2-2-2013
20820015@unknown@formal@none@1@S@And they threatened to try to amend any other revenue bill in the Senate with the capital-gains provision.@@@@1@18@@oe@2-2-2013
20820016@unknown@formal@none@1@S@"This is serious business; we're serious about a capital-gains reduction," said Kansas Sen. Robert Dole, the Senate's Republican leader.@@@@1@19@@oe@2-2-2013
20820017@unknown@formal@none@1@S@"The strategy is `Let's vote.' "@@@@1@6@@oe@2-2-2013
20820018@unknown@formal@none@1@S@The Republicans contend that they can garner a majority in the 100-member Senate for a capital-gains tax cut.@@@@1@18@@oe@2-2-2013
20820019@unknown@formal@none@1@S@They accuse the Democrats of unfairly using Senate rules to erect a 60-vote hurdle.@@@@1@14@@oe@2-2-2013
20820020@unknown@formal@none@1@S@Democrats counter that the Republicans have often used the same rules to suit their own ends.@@@@1@16@@oe@2-2-2013
20820021@unknown@formal@none@1@S@The two sides also traded accusations about the cost of the Packwood plan.@@@@1@13@@oe@2-2-2013
20820022@unknown@formal@none@1@S@Democrats asserted that the proposal, which also would create a new type of individual retirement account, was fraught with budget gimmickry that would lose billions of dollars in the long run.@@@@1@31@@oe@2-2-2013
20820023@unknown@formal@none@1@S@Republicans countered that long-range revenue estimates were unreliable.@@@@1@8@@oe@2-2-2013
20820024@unknown@formal@none@1@S@The Packwood proposal would reduce the tax depending on how long an asset was held.@@@@1@15@@oe@2-2-2013
20820025@unknown@formal@none@1@S@It also would create a new IRA that would shield from taxation the appreciation on investments made for a wide variety of purposes, including retirement, medical expenses, first-home purchases and tuition.@@@@1@31@@oe@2-2-2013
20820026@unknown@formal@none@1@S@A White House spokesman said President Bush is "generally supportive" of the Packwood plan.@@@@1@14@@oe@2-2-2013
20900001@unknown@formal@none@1@S@Marsh & McLennan Cos. said it agreed to acquire the rest of Gradmann & Holler, a leading West German insurance brokerage firm in which it has held a 15% stake for 15 years.@@@@1@33@@oe@2-2-2013
20900002@unknown@formal@none@1@S@The transaction, for cash and stock, would represent the biggest European takeover since 1980 for New York-based Marsh & McLennan, the world's largest insurance broker.@@@@1@25@@oe@2-2-2013
20900003@unknown@formal@none@1@S@It's also the first major sign of the long-awaited consolidation in the European insurance industry as the European Community Commission moves toward a single market by 1992.@@@@1@27@@oe@2-2-2013
20900004@unknown@formal@none@1@S@Protective barriers will start coming down within the insurance industry next summer, when big industrial companies will be able to buy insurance from carriers in any other EC country for the first time.@@@@1@33@@oe@2-2-2013
20900005@unknown@formal@none@1@S@That's why "we have been working hard to develop a single, more unified presence in Europe," said A.J.C. Smith, Marsh & McLennan's president, at a London news conference yesterday.@@@@1@29@@oe@2-2-2013
20900006@unknown@formal@none@1@S@Analysts speculated that Marsh & McLennan would spend between 250 million marks ($136.4 million) and 350 million marks for the rest of Gradmann & Holler, or roughly 25 to 30 times the private firm's estimated earnings.@@@@1@36@@oe@2-2-2013
20900007@unknown@formal@none@1@S@"This is paying a big price to maintain their virility as the world's leading insurance broker," said Philip Olsen, an analyst at Kitcat & Aitken, a U.K. brokerage firm.@@@@1@29@@oe@2-2-2013
20900008@unknown@formal@none@1@S@Earlier this year, New York Life Insurance Co. agreed to acquire Windsor Group Ltd., a first step toward establishing a presence in the European market ahead of 1992.@@@@1@28@@oe@2-2-2013
20900009@unknown@formal@none@1@S@But most U.S. insurers haven't rushed to change the way they do business in Europe because they believe the European market will still be dominated by a handful of domestic companies.@@@@1@31@@oe@2-2-2013
20900010@unknown@formal@none@1@S@Under the proposed combination, Marsh & McLennan would gain a majority stake in Gradmann & Holler that would increase over time to the rest of the remaining 85%.@@@@1@28@@oe@2-2-2013
20900011@unknown@formal@none@1@S@The three managing general partners would receive a "significant" number of Marsh & McLennan shares, said Walther L. Kiep, a partner who would also join Marsh & McLennan's board.@@@@1@29@@oe@2-2-2013
20900012@unknown@formal@none@1@S@Mr. Kiep said he sought the combination because "all our large clients in Germany are becoming European companies or multinational companies and they expect an insurance broker" to serve them as well in Paris as in Germany.@@@@1@37@@oe@2-2-2013
20900013@unknown@formal@none@1@S@Beatrice E. Garcia in Philadelphia contributed to this article.@@@@1@9@@oe@2-2-2013
20901001@unknown@formal@none@1@S@WASHINGTON --@@@@1@2@@oe@2-2-2013
20901002@unknown@formal@none@1@S@United Technologies Corp. won an $18 million Army contract for helicopter modifications and spare parts.@@@@1@15@@oe@2-2-2013
20901003@unknown@formal@none@1@S@The company will modify one UH-60A Blackhawk transport helicopter to the prototype MH-60K configuration for use by military special forces.@@@@1@20@@oe@2-2-2013
20901004@unknown@formal@none@1@S@Ingalls Shipbuilding Inc., a division of Litton Industries Inc., was given a $15.5 million extension on a contract for shipyard services.@@@@1@21@@oe@2-2-2013
20902001@unknown@formal@none@1@S@Furukawa Electric Co. said it plans to increase production of computer memory devices on a large scale in the U.S. and Japan.@@@@1@22@@oe@2-2-2013
20902002@unknown@formal@none@1@S@As part of the move, its affiliated U.S. company, International Components Technology Corp., purchased a Mexican plant formerly belonging to KSI Disc Products Inc.@@@@1@24@@oe@2-2-2013
20902003@unknown@formal@none@1@S@The price wasn't disclosed.@@@@1@4@@oe@2-2-2013
20902004@unknown@formal@none@1@S@Together with two existing plants in the U.S., Furukawa said it will expand its current local monthly production of memory disks to 1.4 million sheets from 800,000.@@@@1@27@@oe@2-2-2013
20902005@unknown@formal@none@1@S@In Japan, Furukawa said it will raise production at a plant outside Tokyo to 300,000 sheets monthly from 100,000.@@@@1@19@@oe@2-2-2013
20902006@unknown@formal@none@1@S@Furukawa said the U.S. market is strengthening as related computer technology gains in sophistication and quality.@@@@1@16@@oe@2-2-2013
20903001@unknown@formal@none@1@S@PRIMERICA Corp., New York, raised its quarterly 14% to eight cents a share, from seven cents, payable Nov. 24 to stock of record Nov. 6.@@@@1@25@@oe@2-2-2013
20903002@unknown@formal@none@1@S@The financial services company, which has about 98.8 million shares outstanding, noted its "continued confidence in the ongoing strength of the operations.@@@@1@22@@oe@2-2-2013
20904001@unknown@formal@none@1@S@Compaq Computer Corp. said that its net income rose 51% in the third quarter, bolstered by unusual gains from its investment in a disk-drive maker and reflecting continued growth in its European operations.@@@@1@33@@oe@2-2-2013
20904002@unknown@formal@none@1@S@The computer maker said net jumped to $87 million, or $2.02 a share, from $58 million, or $1.40 a share, a year earlier.@@@@1@23@@oe@2-2-2013
20904003@unknown@formal@none@1@S@Sales increased 36% to $683 million from $502 million.@@@@1@9@@oe@2-2-2013
20904004@unknown@formal@none@1@S@The latest quarter's results, however, included a pretax gain of $13.7 million, or 20 cents a share, in the carrying value of the company's investment in Conner Peripherals Inc. and a $7.6 million gain, or 11 cents a share, from the sale of one million Conner shares.@@@@1@47@@oe@2-2-2013
20904005@unknown@formal@none@1@S@Net for the nine months was $254 million, or $5.94 a share, up 56% from $163 million, or $4.06 a share, a year earlier.@@@@1@24@@oe@2-2-2013
20904006@unknown@formal@none@1@S@Sales rose 50% to $2.1 billion from $1.4 billion.@@@@1@9@@oe@2-2-2013
20904007@unknown@formal@none@1@S@Net for the year-earlier nine months also included a gain of $9.7 million, or 15 cents a share, in the carrying value of the Conner investment.@@@@1@26@@oe@2-2-2013
20904008@unknown@formal@none@1@S@Michael Swavely, president of Compaq's North America division, attributed the company's third-quarter performance to continued increases in international sales, which accounted for 43% of the company's sales, a 74% increase from a year earlier.@@@@1@34@@oe@2-2-2013
20904009@unknown@formal@none@1@S@"Over the next couple of years we would not be surprised to see Europe and international {sales} represent 50% of the company's revenues," he said.@@@@1@25@@oe@2-2-2013
20904010@unknown@formal@none@1@S@During the third quarter, Compaq purchased a former Wang Laboratories manufacturing facility in Stirling, Scotland, which will be used for international service and repair operations.@@@@1@25@@oe@2-2-2013
20904011@unknown@formal@none@1@S@Mr. Swavely said the new space will allow Compaq to increase the manufacturing capacity of its plant in Erskine, Scotland.@@@@1@20@@oe@2-2-2013
20904012@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Compaq shares fell $1.625 to $108.625.@@@@1@14@@oe@2-2-2013
20905001@unknown@formal@none@1@S@Wilson H. Taylor, president and chief executive officer of this insurance and financial services concern, was elected to the additional post of chairman.@@@@1@23@@oe@2-2-2013
20905002@unknown@formal@none@1@S@Mr. Taylor, 45 years old, succeeds Robert D. Kilpatrick, 64, who is retiring, as reported earlier.@@@@1@16@@oe@2-2-2013
20905003@unknown@formal@none@1@S@Mr. Kilpatrick will remain a director.@@@@1@6@@oe@2-2-2013
20906001@unknown@formal@none@1@S@Diversified Investment Group Inc. said it agreed to be acquired by Star States Corp. for stock valued at $13.75 a share, or about $24.4 million.@@@@1@25@@oe@2-2-2013
20906002@unknown@formal@none@1@S@Diversified, the holding company for Fidelity Federal Savings & Loan Association, said the agreement also gives Star States the option to acquire 588,300 of Diversified's 1,774,326 shares outstanding "under certain circumstances."@@@@1@31@@oe@2-2-2013
20906003@unknown@formal@none@1@S@The acquisition would give Wilmington, Del.-based Star States access to the Pennsylvania market.@@@@1@13@@oe@2-2-2013
20906004@unknown@formal@none@1@S@The agreement is subject to regulatory approval and resolution of lawsuits brought by certain Diversified holders in connection with the proposed merger.@@@@1@22@@oe@2-2-2013
20907001@unknown@formal@none@1@S@Chandler Insurance Co. said it expects to report third-quarter net income jumped 97% to $2.8 million, or 51 cents a share.@@@@1@21@@oe@2-2-2013
20907002@unknown@formal@none@1@S@In the year-earlier quarter, the automobile and trucking insurer had earnings of $1.4 million, or 48 cents a share on a restated basis, on revenue of $16.5 million.@@@@1@28@@oe@2-2-2013
20907003@unknown@formal@none@1@S@In an interview, W. Brent LeGere, chairman and chief executive officer, said he expects revenue in the latest quarter to total about $28 million.@@@@1@24@@oe@2-2-2013
20907004@unknown@formal@none@1@S@The earnings-per-share figures reflect a 25% stock dividend in June 1989.@@@@1@11@@oe@2-2-2013
20907005@unknown@formal@none@1@S@Mr. LeGere attributed the earnings increase to growth in the company's longhaul trucking insurance lines and the ability to keep premium rates firm.@@@@1@23@@oe@2-2-2013
20908001@unknown@formal@none@1@S@Calgon Carbon Corp. said it will build a $40 million plant for producing granular activated carbon.@@@@1@16@@oe@2-2-2013
20908002@unknown@formal@none@1@S@The maker of water-treatment chemicals and equipment said it will select the plant site early next year, and production is expected to begin in 1991.@@@@1@25@@oe@2-2-2013
20909001@unknown@formal@none@1@S@Call Jim Wright's office in downtown Fort Worth, Texas, these days and the receptionist still answers the phone, "Speaker Wright's office."@@@@1@21@@oe@2-2-2013
20909002@unknown@formal@none@1@S@The former congressman, who resigned as speaker of the House after an investigation of his financial dealings, is ensconced in his district office, maintained by taxpayers on a $200,000 allowance.@@@@1@30@@oe@2-2-2013
20909003@unknown@formal@none@1@S@He is negotiating a rich book contract to boot.@@@@1@9@@oe@2-2-2013
20909004@unknown@formal@none@1@S@One of the hottest tickets on Washington's social calendar this fall was a charity benefit honoring former Congressman Tony Coelho, who landed a million-dollar job on Wall Street after resigning over a controversial junk-bond investment last summer.@@@@1@37@@oe@2-2-2013
20909005@unknown@formal@none@1@S@Michael Deaver, the former White House aide, has become the most recent addition to the teeming ranks of fallen politicians and officials earning their way as lobbyists and consultants here.@@@@1@30@@oe@2-2-2013
20909006@unknown@formal@none@1@S@Mr. Deaver has reopened a public-relations business.@@@@1@7@@oe@2-2-2013
20909007@unknown@formal@none@1@S@Surviving scandal has become a rite of political passage at a time when a glut of scandal has blunted this town's sensibility.@@@@1@22@@oe@2-2-2013
20909008@unknown@formal@none@1@S@Let the president demand strict new ethics rules: With four sitting House members accused of sexual misdeeds, amid the unfolding HUD scandal and after the Wright debacle, "people are slightly dulled by scandal," says political humorist Art Buchwald.@@@@1@38@@oe@2-2-2013
20909009@unknown@formal@none@1@S@"It now takes something really weird to inspire public outrage."@@@@1@10@@oe@2-2-2013
20909010@unknown@formal@none@1@S@Not all the scandal-tripped have enjoyed soft landings.@@@@1@8@@oe@2-2-2013
20909011@unknown@formal@none@1@S@But many have.@@@@1@3@@oe@2-2-2013
20909012@unknown@formal@none@1@S@"These people bounce back more resiliently than regular people," says Washington writer Suzanne Garment, who is working on a history of post-Watergate scandal.@@@@1@23@@oe@2-2-2013
20909013@unknown@formal@none@1@S@Given their own penchant for book writing, it is surprising that none of the masters of scandal survival have yet published a guide to the art.@@@@1@26@@oe@2-2-2013
20909014@unknown@formal@none@1@S@For there is an emerging protocol -- indeed, an etiquette -- to it.@@@@1@13@@oe@2-2-2013
20909015@unknown@formal@none@1@S@Among the rules:@@@@1@3@@oe@2-2-2013
20909016@unknown@formal@none@1@S@Pretend Nothing Happened@@@@1@3@@oe@2-2-2013
20909017@unknown@formal@none@1@S@As if he were still in his old job, Mr. Wright, by resigning with his title instead of being forced from his job, by law enjoys a $120,000 annual office expense allowance, three paid staffers, up to $67,000 for stationery and telephones and continued use of the franking privilege.@@@@1@49@@oe@2-2-2013
20909018@unknown@formal@none@1@S@Not to mention a generous federal pension.@@@@1@7@@oe@2-2-2013
20909019@unknown@formal@none@1@S@There is also a busy schedule of speaking engagements at $10,000 a pop, at tony places including the Yale Political Union.@@@@1@21@@oe@2-2-2013
20909020@unknown@formal@none@1@S@"He's as busy as he was as speaker," reports Mr. Wright's administrative aide, Larry Shannon.@@@@1@15@@oe@2-2-2013
20909021@unknown@formal@none@1@S@Atone@@@@1@1@@oe@2-2-2013
20909022@unknown@formal@none@1@S@On the edge of fashionable Georgetown, in a chic office with a river view and a number of corporate clients whom he won't name, Mr. Deaver is trying to reclaim his reputation as one of the savviest image makers in town.@@@@1@41@@oe@2-2-2013
20909023@unknown@formal@none@1@S@There are few mementos of his days as White House deputy chief of staff and confidant of Ronald and Nancy Reagan.@@@@1@21@@oe@2-2-2013
20909024@unknown@formal@none@1@S@The former $3 million-a-year lobbyist now frequents shelters for the homeless and devotes a third of his time counseling other recovering alcoholics.@@@@1@22@@oe@2-2-2013
20909025@unknown@formal@none@1@S@"I feel better than I ever have in my life," he says.@@@@1@12@@oe@2-2-2013
20909026@unknown@formal@none@1@S@Mr. Deaver confessed to his alcoholism during his trial on perjury charges.@@@@1@12@@oe@2-2-2013
20909027@unknown@formal@none@1@S@He is also a recovering workaholic, relaxing with his family and creating topiary, or garden-shrub sculpture, a fashionable pursuit for which he developed a passion during his three-year legal ordeal.@@@@1@30@@oe@2-2-2013
20909028@unknown@formal@none@1@S@One sign of Mr. Deaver's renaissance: an appearance on ABC's "Nightline" for a show on pack journalism.@@@@1@17@@oe@2-2-2013
20909029@unknown@formal@none@1@S@Host Ted Koppel introduced him as "the media master of the Reagan Administration," with nary a mention of Mr. Deaver's conviction in 1987 on perjury charges.@@@@1@26@@oe@2-2-2013
20909030@unknown@formal@none@1@S@Finding God@@@@1@2@@oe@2-2-2013
20909031@unknown@formal@none@1@S@"When someone says, 'I've turned to God,' everybody lays off," observes Frank Mankiewicz, an old Washington hand and former aide to Robert Kennedy.@@@@1@23@@oe@2-2-2013
20909032@unknown@formal@none@1@S@Thus have Charles Colson and Jeb Magruder launched successful post-Watergate careers at the pulpit.@@@@1@14@@oe@2-2-2013
20909033@unknown@formal@none@1@S@But it doesn't always work so smoothly.@@@@1@7@@oe@2-2-2013
20909034@unknown@formal@none@1@S@After allegations surfaced in a 1985 divorce contest that he had beaten his wife, SEC enforcement chief John Fedders retreated to a Trappist monastery in rural Virginia.@@@@1@27@@oe@2-2-2013
20909035@unknown@formal@none@1@S@He is now in solo law practice in Washington, but his fees have been meager and he failed in efforts to win a chunk of his ex-wife's royalties on her tell-all book.@@@@1@32@@oe@2-2-2013
20909036@unknown@formal@none@1@S@From time to time he returns to the monastery for prayer, meditation and pro bono legal work.@@@@1@17@@oe@2-2-2013
20909037@unknown@formal@none@1@S@Mr. Fedders is philosophical about his travails.@@@@1@7@@oe@2-2-2013
20909038@unknown@formal@none@1@S@"This whole experience has been an opportunity for internal growth," he says.@@@@1@12@@oe@2-2-2013
20909039@unknown@formal@none@1@S@He sees a psychoanalyst five mornings a week.@@@@1@8@@oe@2-2-2013
20909040@unknown@formal@none@1@S@"I've surrendered to the circumstances," Mr. Fedders says.@@@@1@8@@oe@2-2-2013
20909041@unknown@formal@none@1@S@"The word surrender has a precise psychoanalytic meaning.@@@@1@8@@oe@2-2-2013
20909042@unknown@formal@none@1@S@My universe has changed.@@@@1@4@@oe@2-2-2013
20909043@unknown@formal@none@1@S@I'm enjoying my life and who I am today.@@@@1@9@@oe@2-2-2013
20909044@unknown@formal@none@1@S@The aspect of being a mega-lawyer isn't as important."@@@@1@9@@oe@2-2-2013
20909045@unknown@formal@none@1@S@Don't Linger@@@@1@2@@oe@2-2-2013
20909046@unknown@formal@none@1@S@"The best thing you can do is get off the screen," says Mr. Buchwald.@@@@1@14@@oe@2-2-2013
20909047@unknown@formal@none@1@S@Nobody proved that more masterfully than Mr. Coelho, the former Democratic majority whip.@@@@1@13@@oe@2-2-2013
20909048@unknown@formal@none@1@S@Declaring that there was life after Congress, he resigned almost immediately after media reports questioned the propriety of a 1986 junk-bond investment, before any official investigations took hold.@@@@1@28@@oe@2-2-2013
20909049@unknown@formal@none@1@S@Among the glitterati who turned out in bipartisan black-tie force to benefit the Coelho Epilepsy Fund last month were Sen. Robert Dole, Rep. Newt Gingrich, and other kingpins of Congress.@@@@1@30@@oe@2-2-2013
20909050@unknown@formal@none@1@S@Dan Rather served as emcee.@@@@1@5@@oe@2-2-2013
20909051@unknown@formal@none@1@S@From his new, million-dollar-a-year perch on Wall Street as a managing director of Wertheim Schroder & Co., Mr. Coelho reports that many of his former colleagues have contacted him to find out how they, too, can pursue investment banking careers.@@@@1@40@@oe@2-2-2013
20909052@unknown@formal@none@1@S@It Helps to Be Male@@@@1@5@@oe@2-2-2013
20909053@unknown@formal@none@1@S@Male scandal victims invariably fare better.@@@@1@6@@oe@2-2-2013
20909054@unknown@formal@none@1@S@Anne Burford, the former EPA chief who resigned under fire in 1983 during a flap with Congress, was kayoed in the confrontation, even though she was never charged with official wrondgoing.@@@@1@31@@oe@2-2-2013
20909055@unknown@formal@none@1@S@She worked part-time as a consultant and wrote a book, but never restarted her high-powered legal career.@@@@1@17@@oe@2-2-2013
20909056@unknown@formal@none@1@S@It didn't help when, in 1986, she was charged (and then cleared) on allegations of public drunkenness.@@@@1@17@@oe@2-2-2013
20909057@unknown@formal@none@1@S@"I cut my losses and ran," she says, from her new home in Colorado, where she is busy remodeling.@@@@1@19@@oe@2-2-2013
20909058@unknown@formal@none@1@S@Mrs. Burford remains bitter over the overwhelming legal expenses involved in clearing her name.@@@@1@14@@oe@2-2-2013
20909059@unknown@formal@none@1@S@"My husband was instantly impoverished by the very act of marrying me," she says.@@@@1@14@@oe@2-2-2013
20909060@unknown@formal@none@1@S@Another former EPA official, Rita Lavelle, is still struggling after her conviction in 1983 on perjury charges.@@@@1@17@@oe@2-2-2013
20909061@unknown@formal@none@1@S@"There's nothing she could do to bring herself back to where she was," says her lawyer, James Bierbower.@@@@1@18@@oe@2-2-2013
20909062@unknown@formal@none@1@S@"You could say she survived, but it wasn't easy on her."@@@@1@11@@oe@2-2-2013
20909063@unknown@formal@none@1@S@No book contracts have been dangled before Deborah Gore Dean, the reigning queen of the HUD scandal.@@@@1@17@@oe@2-2-2013
20909064@unknown@formal@none@1@S@Donna Rice of Gary Hart fame failed to obtain a book contract and lost her modeling contract for "No Excuses" jeans.@@@@1@21@@oe@2-2-2013
20909065@unknown@formal@none@1@S@Fawn Hall, Oliver North's former secretary, has yet to launch a hoped-for television news career, according to her lawyer.@@@@1@19@@oe@2-2-2013
20909066@unknown@formal@none@1@S@Rita Jenrette, the former wife of Abscam-indicted Rep. John Jenrette, has yet to hit it big in Hollywood, although with roles in such movies as "Zombie Island Massacre" and "Aunt Ida's Bikini Shop," she is doing a lot better than her former husband.@@@@1@43@@oe@2-2-2013
20909067@unknown@formal@none@1@S@He was back in jail over the summer on shoplifting charges.@@@@1@11@@oe@2-2-2013
20909068@unknown@formal@none@1@S@Be the Star@@@@1@3@@oe@2-2-2013
20909069@unknown@formal@none@1@S@Central figures -- such as Richard Nixon -- usually fare better than those with supporting roles.@@@@1@16@@oe@2-2-2013
20909070@unknown@formal@none@1@S@Richard Secord, the retired Air Force general felled in the Iran-Contra scandal, is all but ruined -- forced to sell his Virginia home and pull his kids out of college, according to a recent fund-raising appeal sent out on his behalf.@@@@1@41@@oe@2-2-2013
20909071@unknown@formal@none@1@S@Yet his co-defendant in the case -- also a former military officer by the name of Oliver North -- has been busily and profitably burnishing his involvement in the affair.@@@@1@30@@oe@2-2-2013
20909072@unknown@formal@none@1@S@What accounts for the difference?@@@@1@5@@oe@2-2-2013
20909073@unknown@formal@none@1@S@During the televised Iran-Contra hearings, Mr. North came off as a patriot from central casting.@@@@1@15@@oe@2-2-2013
20909074@unknown@formal@none@1@S@Mr. Secord's performance was decidedly less inspiring.@@@@1@7@@oe@2-2-2013
20909075@unknown@formal@none@1@S@Mr. North remains in heavy demand as a speaker, for fees reported in the $20,000 range.@@@@1@16@@oe@2-2-2013
20909076@unknown@formal@none@1@S@Even in the wake of Hurricane Hugo 750 people turned out in a remote Virginia town in September for a "family tribute" to Mr. North given by two dozen conservative members of Congress.@@@@1@33@@oe@2-2-2013
20909077@unknown@formal@none@1@S@If Sex Is Involved, All Bets Are Off@@@@1@8@@oe@2-2-2013
20909078@unknown@formal@none@1@S@Sex scandals make people look careless and silly, and one of the worst sins in Washington is to be laughed at.@@@@1@21@@oe@2-2-2013
20909079@unknown@formal@none@1@S@"You can be wicked, but not foolish," says Mr. Mankiewicz.@@@@1@10@@oe@2-2-2013
20909080@unknown@formal@none@1@S@Nevertheless, Rep. Gerry Studds of Massachusetts was handily re-elected because of the candor with which he handled revelations that he had sex with a male congressional page in 1983.@@@@1@29@@oe@2-2-2013
20909081@unknown@formal@none@1@S@Former Rep. Robert Bauman, a Maryland Republican who lost his seat in 1980 after he was caught soliciting sex from a 16-year-old boy, has never regained his professional footing as a lawyer.@@@@1@32@@oe@2-2-2013
20909082@unknown@formal@none@1@S@Mr. Bauman, a conservative, says he was deserted by the right wing.@@@@1@12@@oe@2-2-2013
20909083@unknown@formal@none@1@S@"Conservatives shoot their own," he says.@@@@1@6@@oe@2-2-2013
20909084@unknown@formal@none@1@S@If the political establishment is reluctant to forgive sexual misadventures, the private sector sometimes will.@@@@1@15@@oe@2-2-2013
20909085@unknown@formal@none@1@S@John Tower was accused of womanizing and boozing during his unsuccessful bid to win confirmation as secretary of defense earlier this year.@@@@1@22@@oe@2-2-2013
20909086@unknown@formal@none@1@S@Now he is writing a book, serving on an elite foreign policy advisory board and consulting for an array of corporate clients, including British publishing mogul Robert Maxwell.@@@@1@28@@oe@2-2-2013
20909087@unknown@formal@none@1@S@Become a Lobbyist@@@@1@3@@oe@2-2-2013
20909088@unknown@formal@none@1@S@When all else fails, Gucci Gulch -- the fabled halls of the Capitol inhabited by lobbyists and their imported shoes -- offers a welcome environment for fallen officials.@@@@1@28@@oe@2-2-2013
20909089@unknown@formal@none@1@S@Former Rep. Fernand St Germain, brought down by the savings-and-loan crisis, now represents -- you guessed it -- savings-and-loans associations.@@@@1@20@@oe@2-2-2013
20909090@unknown@formal@none@1@S@Some become pseudo-lobbyists.@@@@1@3@@oe@2-2-2013
20909091@unknown@formal@none@1@S@John Mack promptly quit his job last spring as an aide to Speaker Wright amid public outrage over Mr. Mack's violent attack on a young woman when he was 19 years old.@@@@1@32@@oe@2-2-2013
20909092@unknown@formal@none@1@S@After a few weeks in seclusion, Mr. Mack opened a consulting firm, but not to enable him to directly lobby; that would require him to disclose his clients by registering as a lobbyist.@@@@1@33@@oe@2-2-2013
20909093@unknown@formal@none@1@S@Still, Mr. Mack says he talks to "30 members of Congress a week."@@@@1@13@@oe@2-2-2013
20909094@unknown@formal@none@1@S@Misery Loves Company@@@@1@3@@oe@2-2-2013
20909095@unknown@formal@none@1@S@Other scandal survivors are sometimes the best source of solace.@@@@1@10@@oe@2-2-2013
20909096@unknown@formal@none@1@S@Raymond Donovan, the New Jersey construction executive who was forced to resign as labor secretary and indicted in 1985, only to be acquitted of fraud charges, often calls other scandal-tossed public figures to offer a sympathetic ear.@@@@1@37@@oe@2-2-2013
20909097@unknown@formal@none@1@S@Each time a new scandal hits, he says, "it pulls the scabs off your knees."@@@@1@15@@oe@2-2-2013
20909098@unknown@formal@none@1@S@One of the first people to come to the Deaver home after his troubles erupted was former Nixon aide John Ehrlichman, whom Mr. Deaver scarcely knew.@@@@1@26@@oe@2-2-2013
20909099@unknown@formal@none@1@S@"He reassured me that the hurricane would end," Mr. Deaver recalls.@@@@1@11@@oe@2-2-2013
20909100@unknown@formal@none@1@S@Mr. Bauman received an encouraging letter from the recognized master of scandal survival, Richard Nixon.@@@@1@15@@oe@2-2-2013
20909101@unknown@formal@none@1@S@Says Mr. Bauman: "If things get really tough, I can always auction it off at Sotheby's.@@@@1@16@@oe@2-2-2013
20910001@unknown@formal@none@1@S@The Canadian government, with a view to becoming more politically active in Latin America, is expected to announce tomorrow its application to join the Organization of American States, a Washington-based regional agency.@@@@1@32@@oe@2-2-2013
20910002@unknown@formal@none@1@S@The expected Canadian move has been welcomed by the Bush administration even though Canada has opposed such U.S. actions as the trade embargo against Cuba, the invasion of Grenada and the military support for Nicaragua's Contra guerrillas.@@@@1@37@@oe@2-2-2013
20910003@unknown@formal@none@1@S@Latin American countries have long urged Canada to join the OAS in the hopes that it would be a counterweight to the U.S., which for many years tended to dominate the 32-nation organization.@@@@1@33@@oe@2-2-2013
20910004@unknown@formal@none@1@S@Even though the U.S. also has supported Canadian membership, it hasn't been a Washington priority.@@@@1@15@@oe@2-2-2013
20910005@unknown@formal@none@1@S@"The fact that we might not side with the Americans may be a reason why Canada's membership in the OAS hasn't been, over the years, an item high on the U.S. agenda," said Allan Gotlieb, former Canadian ambassador to the U.S.@@@@1@41@@oe@2-2-2013
20910006@unknown@formal@none@1@S@The Canadian application is expected to be announced in San Jose, Costa Rica, by Canadian Prime Minister Brian Mulroney, who is attending a centenary celebration of Costa Rican democracy.@@@@1@29@@oe@2-2-2013
20910007@unknown@formal@none@1@S@"Canada has a larger and more beneficial role to play in the hemisphere," Mr. Mulroney said recently.@@@@1@17@@oe@2-2-2013
20910008@unknown@formal@none@1@S@Some Canadian political commentators have opposed Canada's joining what they see as a U.S.-dominated organization.@@@@1@15@@oe@2-2-2013
20910009@unknown@formal@none@1@S@"Canada could do plenty of things to get serious about Latin America without running the risk of getting caught in the cross fire" between the U.S. and Latin American members of the OAS, said Jeffrey Simpson, a columnist in Toronto's Globe & Mail newspaper.@@@@1@44@@oe@2-2-2013
20910010@unknown@formal@none@1@S@Canada, at times, could be an awkward OAS partner for the U.S. if its United Nations voting record is an indication.@@@@1@21@@oe@2-2-2013
20910011@unknown@formal@none@1@S@In U.N. General Assembly votes last year, Canada voted the same as the U.S. only 63% of the time.@@@@1@19@@oe@2-2-2013
20910012@unknown@formal@none@1@S@France voted the same as the U.S. 76% of the time, West Germany 79% and Britain 83%.@@@@1@17@@oe@2-2-2013
20910013@unknown@formal@none@1@S@Larry Birns, director of the Washington-based Council on Hemispheric Affairs, a liberal research group, said that Latin American countries would be "profoundly disappointed" if Canada were to follow the U.S. lead in the OAS.@@@@1@34@@oe@2-2-2013
20910014@unknown@formal@none@1@S@"Latin Americans see Canada as a non-interventionist power that respects their sovereignty," he said.@@@@1@14@@oe@2-2-2013
20910015@unknown@formal@none@1@S@The OAS, which tries to promote peace and economic development within the Americas, is attempting to find a settlement of the current Panama political crisis.@@@@1@25@@oe@2-2-2013
20910016@unknown@formal@none@1@S@Cuba has been suspended from OAS membership, but the organization's members are discussing Cuba's reinstatement.@@@@1@15@@oe@2-2-2013
20911001@unknown@formal@none@1@S@Robert H. Knight's Oct. 5 editorial-page article bemoaning violence in comedy movies ("Hollywood, You Slay Me") is interesting, but somewhat off-base.@@@@1@21@@oe@2-2-2013
20911002@unknown@formal@none@1@S@As a fan of older movies from the 1920s on, I do not find modern comedies contain violence, sex and foul language to any greater degree than other recent movies.@@@@1@30@@oe@2-2-2013
20911003@unknown@formal@none@1@S@Older movies have plenty of violence, though it is portrayed in keeping with the more restrictive social conventions of the time.@@@@1@21@@oe@2-2-2013
20911004@unknown@formal@none@1@S@For example, one of my favorite movies is the 1949 British comedy "Kind Hearts and Coronets," in which the entire comedy is based on actor Dennis Price's murdering eight titled relatives (all played by Alec Guinness) because they snubbed his mother and stand in the way of his acquiring the family title.@@@@1@52@@oe@2-2-2013
20911005@unknown@formal@none@1@S@Similarly, one of the most popular comedy genres of the 1930s and '40s was the "murder mystery/comedy."@@@@1@17@@oe@2-2-2013
20911006@unknown@formal@none@1@S@The "Thin Man" series of movies, as well as many others, based their entire comedic appeal on the star detectives' witty quips and puns as other characters in the movies were murdered.@@@@1@32@@oe@2-2-2013
20911007@unknown@formal@none@1@S@Further, I think Mr. Knight made a poor choice in picking "A Fish Called Wanda" as an example of the deplorable state of modern comedy movies.@@@@1@26@@oe@2-2-2013
20911008@unknown@formal@none@1@S@The specific scene he mentions in which pet dogs are crushed is somewhat reminiscent of the continual plights that befall the coyote in the old Warner Bros. "Road Runner" cartoons.@@@@1@30@@oe@2-2-2013
20911009@unknown@formal@none@1@S@There is no slow-motion close-up, blood-and-guts portrayal of the animal's demise.@@@@1@11@@oe@2-2-2013
20911010@unknown@formal@none@1@S@Keep in mind that this is the same movie in which a character is flattened by a steamroller only to pop right back up and peer in the window of a Boeing 747 -- from the outside -- as it takes off.@@@@1@42@@oe@2-2-2013
20911011@unknown@formal@none@1@S@I will be the first to agree that there is much to be found wrong with modern movie making.@@@@1@19@@oe@2-2-2013
20911012@unknown@formal@none@1@S@Many modern scriptwriters seem to be incapable of writing drama, or anything else, without foul-mouthed cursing.@@@@1@16@@oe@2-2-2013
20911013@unknown@formal@none@1@S@Sex and violence are routinely included even when they are irrelevant to the script, and high-tech special effects are continually substituted for good plot and character development.@@@@1@27@@oe@2-2-2013
20911014@unknown@formal@none@1@S@In short, we have a movie and television industry that is either incapable or petrified of making a movie unless it carries a PG-13 or R rating.@@@@1@27@@oe@2-2-2013
20911015@unknown@formal@none@1@S@Hence copious amounts of gratuitous sex, violence and gutter language are included as a crutch.@@@@1@15@@oe@2-2-2013
20911016@unknown@formal@none@1@S@However, these faults are not the exclusive property of modern comedies, and I believe Mr. Knight errs when he attempts to link this modern phenomenon too closely to a single category of movie making.@@@@1@34@@oe@2-2-2013
20911017@unknown@formal@none@1@S@Michael Smith@@@@1@2@@oe@2-2-2013
20912001@unknown@formal@none@1@S@Rochester Telephone Corp. said it agreed to buy Viroqua Telephone Co. of Viroqua, Wis.@@@@1@14@@oe@2-2-2013
20912002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20912003@unknown@formal@none@1@S@Rochester will exchange shares of its common stock for all shares outstanding of Viroqua Telephone, a family-owned company.@@@@1@18@@oe@2-2-2013
20912004@unknown@formal@none@1@S@Viroqua serves about 3,000 access lines in western Wisconsin.@@@@1@9@@oe@2-2-2013
20913001@unknown@formal@none@1@S@The average unemployment rate in the 15 biggest industrialized democracies was steady in August at the 6.1% rate of the two previous months, the Organization for Economic Cooperation and Development (OECD) said.@@@@1@32@@oe@2-2-2013
20913002@unknown@formal@none@1@S@The August rate was 0.6 percentage point lower than in the like month a year earlier, reflecting the pickup of activity in the 15 countries.@@@@1@25@@oe@2-2-2013
20913003@unknown@formal@none@1@S@The OECD said that most of the improvement occurred in the second half of last year; since February of this year, unemployment has been steady at around 6.2% of the labor force.@@@@1@32@@oe@2-2-2013
20914001@unknown@formal@none@1@S@ALAMCO Inc. said its board has approved a 1-for-10 reverse stock split.@@@@1@12@@oe@2-2-2013
20914002@unknown@formal@none@1@S@The Clarksburg, W.Va., producer of gas and oil, said it wants shareholders to approve the split because it would "enhance the marketability" and trading of the stock.@@@@1@27@@oe@2-2-2013
20914003@unknown@formal@none@1@S@If approved at a shareholder meeting in December, the number of shares outstanding would decrease to five million from 50 million, and par value would rise to 10 cents from a penny.@@@@1@32@@oe@2-2-2013
20915001@unknown@formal@none@1@S@Duriron Co. said it has agreed to buy Automax Inc., a Cincinnati maker of control accessories for industrial valves.@@@@1@19@@oe@2-2-2013
20915002@unknown@formal@none@1@S@Terms weren't disclosed, but Duriron said the deal will be completed through an exchange of stock.@@@@1@16@@oe@2-2-2013
20915003@unknown@formal@none@1@S@Closely held Automax has annual sales of about $10 million.@@@@1@10@@oe@2-2-2013
20915004@unknown@formal@none@1@S@Duriron, a maker of pumps, valves and other controls, said the acquisition won't impact its 1989 profit.@@@@1@17@@oe@2-2-2013
20916001@unknown@formal@none@1@S@Canadian manufacturers recorded a 0.8% decline in August in their backlog of unfilled orders, Statistics Canada, a federal agency, said.@@@@1@20@@oe@2-2-2013
20916002@unknown@formal@none@1@S@The August drop was the fourth decline in five months.@@@@1@10@@oe@2-2-2013
20916003@unknown@formal@none@1@S@Most of the August decrease was attributed to lower order backlogs in the primary metal and electric and electronics-product industries.@@@@1@20@@oe@2-2-2013
20916004@unknown@formal@none@1@S@Manufacturers' shipments rose 0.3% in August following two months of declines.@@@@1@11@@oe@2-2-2013
20916005@unknown@formal@none@1@S@Inventories fell 0.3% in August.@@@@1@5@@oe@2-2-2013
20917001@unknown@formal@none@1@S@Burmah Oil PLC, a British independent oil company, said its West German subsidiary Castrol has a 49% share in Explonaft G.m.b.H., a new Polish lubricants company.@@@@1@26@@oe@2-2-2013
20917002@unknown@formal@none@1@S@The remaining 51% of the joint venture will be controlled by Polish lubricants manufacturers, refiners and technical institutes.@@@@1@18@@oe@2-2-2013
20917003@unknown@formal@none@1@S@Explonaft will develop application guidelines for lubricants, sell high-quality mineral oils, and offer services in industrial cleaning and related fields.@@@@1@20@@oe@2-2-2013
20917004@unknown@formal@none@1@S@Burmah, which has a strong market position supplying marine lubricants and metal-working fluids in Poland, described the joint venture as "fairly small."@@@@1@22@@oe@2-2-2013
20917005@unknown@formal@none@1@S@It didn't provide details of setup costs.@@@@1@7@@oe@2-2-2013
20918001@unknown@formal@none@1@S@Du Pont Co. reported that third-quarter profit grew a robust 19% from a year ago on the strength of the company's operations in various chemicals and fibers, and in petroleum.@@@@1@30@@oe@2-2-2013
20918002@unknown@formal@none@1@S@Du Pont also raised its quarterly dividend to $1.20 a share from $1.05, a change that will increase the annualized payout to shareholders by some $140 million.@@@@1@27@@oe@2-2-2013
20918003@unknown@formal@none@1@S@Du Pont, unlike companies hurt badly by sharp price declines for basic chemicals and plastics, is benefiting from its broad range of businesses.@@@@1@23@@oe@2-2-2013
20918004@unknown@formal@none@1@S@The profit gain was made despite a weakening in the housing market, for which the company is a supplier, and a strengthening in the dollar, which lowers the value of overseas earnings when they are translated into dollars.@@@@1@38@@oe@2-2-2013
20918005@unknown@formal@none@1@S@The Wilmington, Del., company reported net of $547 million, or $2.36 a share, which was in line with Wall Street estimates.@@@@1@21@@oe@2-2-2013
20918006@unknown@formal@none@1@S@In the year-earlier period, the company earned $461 million, or $1.91 a share.@@@@1@13@@oe@2-2-2013
20918007@unknown@formal@none@1@S@Sales in the latest quarter were $8.59 billion, up 9.4% from $7.85 billion.@@@@1@13@@oe@2-2-2013
20918008@unknown@formal@none@1@S@The dividend increase was Du Pont's second this year, an affirmation of statements by top executives that they intend to increase rewards to shareholders.@@@@1@24@@oe@2-2-2013
20918009@unknown@formal@none@1@S@"We haven't benefited the shareholder as much as we need to," said Edgar Woolard Jr., Du Pont's chairman and chief executive officer, in an interview several months before he entered his current position in April.@@@@1@35@@oe@2-2-2013
20918010@unknown@formal@none@1@S@The largest beneficiary will be Seagram Co., which owns about 23% of Du Pont.@@@@1@14@@oe@2-2-2013
20918011@unknown@formal@none@1@S@A spokesman for Seagram, the Montreal wine and spirits concern controlled by the Bronfman family, said the company will post additional pretax profit of about $33 million a year because of the additional Du Pont dividends.@@@@1@36@@oe@2-2-2013
20918012@unknown@formal@none@1@S@Du Pont also announced plans for a 3-for-1 stock split, although the initial higher dividend will be paid on pre-split shares.@@@@1@21@@oe@2-2-2013
20918013@unknown@formal@none@1@S@Du Pont's stock rose $2.50 a share to close at $117.375 in New York Stock Exchange composite trading yesterday.@@@@1@19@@oe@2-2-2013
20918014@unknown@formal@none@1@S@Seagram closed at $84.75, up 12.5 cents a share in Big Board trading.@@@@1@13@@oe@2-2-2013
20918015@unknown@formal@none@1@S@Leading the gains for Du Pont in the latest quarter was its industrial products segment, where profit soared to $155 million from $99 million a year earlier.@@@@1@27@@oe@2-2-2013
20918016@unknown@formal@none@1@S@The company benefited from continued strong demand and higher selling prices for titanium dioxide, a white pigment used in paints, paper and plastics.@@@@1@23@@oe@2-2-2013
20918017@unknown@formal@none@1@S@James Fallon, a New Providence, N.J., marketing consultant to the chemicals industry, says Du Pont still holds an edge in making the pigment because the company was "first in with the technology" to lower costs.@@@@1@35@@oe@2-2-2013
20918018@unknown@formal@none@1@S@He said Du Pont holds about 23% of the world-wide market, the largest single share, at a time when growing uses for the pigment have kept it in tight supply, although others are now adding low-cost production capacity.@@@@1@38@@oe@2-2-2013
20918019@unknown@formal@none@1@S@Profit climbed to $98 million from $71 million in the petroleum segment, as Du Pont's Conoco Inc. oil company was helped by crude oil prices higher than a year ago and by higher natural gas prices and volume.@@@@1@38@@oe@2-2-2013
20918020@unknown@formal@none@1@S@In the diversifed businesses segment, which includes herbicides, profit grew to $64 million from $27 million.@@@@1@16@@oe@2-2-2013
20918021@unknown@formal@none@1@S@A spokesman said herbicide use in some areas of the U.S. was delayed earlier in the year by heavy rains, thus increasing sales in the third quarter.@@@@1@27@@oe@2-2-2013
20918022@unknown@formal@none@1@S@In the fibers segment, profit rose to $180 million from $155 million, a gain Du Pont attributed to higher demand in the U.S. for most textile products.@@@@1@27@@oe@2-2-2013
20918023@unknown@formal@none@1@S@Two segments posted lower earnings for the quarter.@@@@1@8@@oe@2-2-2013
20918024@unknown@formal@none@1@S@Profit from coal fell to $41 million from $58 million, partly because of a miners' strike.@@@@1@16@@oe@2-2-2013
20918025@unknown@formal@none@1@S@And profit from polymers dropped to $107 million from $122 million amid what Du Pont called lower demand and selling prices in certain packaging and industrial markets.@@@@1@27@@oe@2-2-2013
20918026@unknown@formal@none@1@S@For the nine months, Du Pont earned $2 billion, or $8.46 a share, up 18% from $1.69 billion, or $7.03 a share, a year earlier.@@@@1@25@@oe@2-2-2013
20918027@unknown@formal@none@1@S@Sales increased 10% to $26.54 billion from $24.05 billion.@@@@1@9@@oe@2-2-2013
20918028@unknown@formal@none@1@S@The increased dividend will be paid Dec. 14 to holders of record Nov. 15.@@@@1@14@@oe@2-2-2013
20918029@unknown@formal@none@1@S@The stock split, which is subject to holder approval, would be paid on a still unspecified date in January to holders of record Dec. 21.@@@@1@25@@oe@2-2-2013
20919001@unknown@formal@none@1@S@American Medical International Inc. was dropped from the health care providers industry group of the Dow Jones Equity Market Index.@@@@1@20@@oe@2-2-2013
20919002@unknown@formal@none@1@S@The company is being acquired.@@@@1@5@@oe@2-2-2013
20919003@unknown@formal@none@1@S@U.S. Healthcare Inc. was added to the health care providers group.@@@@1@11@@oe@2-2-2013
20919004@unknown@formal@none@1@S@Both moves are effective today.@@@@1@5@@oe@2-2-2013
20920001@unknown@formal@none@1@S@The Canadian government plans to auction on Tuesday 750 million Canadian dollars (US$639.9 million) of 9.25% bonds due Dec. 1, 1999, the Finance Department said.@@@@1@25@@oe@2-2-2013
20920002@unknown@formal@none@1@S@Proceeds of the issue will be used for general government purposes.@@@@1@11@@oe@2-2-2013
20921001@unknown@formal@none@1@S@Finnish conglomerate Nokia Oy AB said it reached an agreement to buy Dutch cable company NKF Kabel B.V. for 420 million Finnish markka ($99.5 million).@@@@1@25@@oe@2-2-2013
20921002@unknown@formal@none@1@S@Nokia said it will gain control over NKF Kabel by buying 51% of the shares in NKF Holding N.V., which owns NKF Kabel.@@@@1@23@@oe@2-2-2013
20922001@unknown@formal@none@1@S@Western European leaders who favor speedy economic and monetary union are adding a new argument to their arsenal: the dizzying political changes under way in Eastern Europe.@@@@1@27@@oe@2-2-2013
20922002@unknown@formal@none@1@S@French President Francois Mitterrand, European Community Commission President Jacques Delors, Spanish Prime Minister Felipe Gonzalez and others have begun linking the rapid changes in the East to the need to speed up changes in the West.@@@@1@36@@oe@2-2-2013
20922003@unknown@formal@none@1@S@They are stressing that the best way for the West to help the East is to move faster towards Western European economic and monetary unity.@@@@1@25@@oe@2-2-2013
20922004@unknown@formal@none@1@S@This would make the market-oriented system more attractive to Eastern countries, they argue, and allow greater economic aid and technological know-how to flow from West to East.@@@@1@27@@oe@2-2-2013
20922005@unknown@formal@none@1@S@"The only response to the challenge being presented to us by the East," Mr. Mitterrand told the European Parliament in Strasbourg yesterday, "is to reinforce and accelerate the union and cohesion of the European Community."@@@@1@35@@oe@2-2-2013
20922006@unknown@formal@none@1@S@Mr. Mitterrand proposed that a conference be convened next fall to write a new treaty for the EC allowing a European central bank, and that the treaty be ratified by 1992.@@@@1@31@@oe@2-2-2013
20922007@unknown@formal@none@1@S@Mr. Mitterrand also proposed a separate "Bank for Europe" that would channel development money to the East.@@@@1@17@@oe@2-2-2013
20922008@unknown@formal@none@1@S@One basis for linking change in the East and change in the West is the notion that integrating 110 million Eastern Europeans with 320 million Western Europeans is primarily the task of Europeans, despite the U.S.'s obvious strategic and economic interest.@@@@1@41@@oe@2-2-2013
20922009@unknown@formal@none@1@S@Says a European strategist: "The U.S. tends to look at Eastern Europe {not including the Soviet Union} as Europe looks at Latin America: important but far away.@@@@1@27@@oe@2-2-2013
20922010@unknown@formal@none@1@S@But for us in Western Europe, these are Europeans next door."@@@@1@11@@oe@2-2-2013
20922011@unknown@formal@none@1@S@A reintegrated Europe implies big changes in 40-year-old military and economic policies.@@@@1@12@@oe@2-2-2013
20922012@unknown@formal@none@1@S@There is likely to be a natural division of labor, says Francois Heisbourg, director of the International Institute for Strategic Studies in London, with the U.S. more engaged in strategic issues with the Soviet Union, and Western Europe more involved with specific aid measures for the East.@@@@1@47@@oe@2-2-2013
20922013@unknown@formal@none@1@S@The designation at July's economic summit of major industrialized nations of the EC Commission as coordinator of Western aid to Poland and Hungary was a first step.@@@@1@27@@oe@2-2-2013
20922014@unknown@formal@none@1@S@In part, this division is dictated by economics: West Germany is a net exporter of capital while the U.S. isn't.@@@@1@20@@oe@2-2-2013
20922015@unknown@formal@none@1@S@While American aid efforts have been limited by budget problems, yesterday France announced a three-year, four billion French franc ($650 million) aid plan for Poland.@@@@1@25@@oe@2-2-2013
20922016@unknown@formal@none@1@S@Despite sudden changes in the strategic equation, some Western European leaders, especially British Prime Minister Margaret Thatcher, remain skeptical about European political and economic unity, and are unlikely to let East-West concerns change their minds.@@@@1@35@@oe@2-2-2013
20922017@unknown@formal@none@1@S@But British analysts are beginning to link the issues.@@@@1@9@@oe@2-2-2013
20922018@unknown@formal@none@1@S@"We need a Western Ostpolitik," says John Roper, of the Royal Institute of International Affairs in London, referring to West Germany's longstanding policy of a diplomatic opening to the East.@@@@1@30@@oe@2-2-2013
20922019@unknown@formal@none@1@S@"For Poland and Hungary we need to think about a stick-and-carrot economic approach that would force them to price things realistically in return for removing all our tariff barriers."@@@@1@29@@oe@2-2-2013
20922020@unknown@formal@none@1@S@He notes that the Marshall Plan of U.S. aid to Europe "didn't just throw money at post-war Europe, it also liberalized and opened up those markets."@@@@1@26@@oe@2-2-2013
20922021@unknown@formal@none@1@S@The French analysis goes further.@@@@1@5@@oe@2-2-2013
20922022@unknown@formal@none@1@S@"Most of the West's leaders have finally concluded that we all want perestroika {Soviet leader Mikhail Gorbachev's policy of economic restructuring} to succeed," says Hubert Vedrine, security adviser to Mr. Mitterrand.@@@@1@31@@oe@2-2-2013
20922023@unknown@formal@none@1@S@"But they haven't yet drawn the operational policy conclusions."@@@@1@9@@oe@2-2-2013
20922024@unknown@formal@none@1@S@He adds that with communism collapsing and Mr. Gorbachev scrambling to rejuvenate the Soviet economy, "Our interest lies in a controlled transformation, a contained nuclear reaction, so we need to help him, and not just with words."@@@@1@37@@oe@2-2-2013
20922025@unknown@formal@none@1@S@Managing change, he adds, will require a lot more aid and a prominent role for the EC, especially in dealing with the question of German reunification.@@@@1@26@@oe@2-2-2013
20922026@unknown@formal@none@1@S@Thierry de Montbrial, director of the French Institutue for International Relations in Paris, says it isn't clear what, exactly, West Germany wants.@@@@1@22@@oe@2-2-2013
20922027@unknown@formal@none@1@S@Any push for a Gorbachev vision of a "common European home," implying the eventual dissolution of the EC, a Soviet-German partnership and the withdrawal of U.S. forces, "would be a very, very serious problem," he says.@@@@1@36@@oe@2-2-2013
20922028@unknown@formal@none@1@S@He doubts a Bismarckian super state will emerge that would dominate Europe, but warns of "a risk of profound change in the heart of the European Community from a Germany that is too strong, even if democratic."@@@@1@37@@oe@2-2-2013
20922029@unknown@formal@none@1@S@He adds: "We, and the rest of the EC have to talk to the Germans, now, frankly and raise these future risks with them."@@@@1@24@@oe@2-2-2013
20922030@unknown@formal@none@1@S@While many commentators, particularly French ones, worry that hasty and emotional reaction to the changes in the East might lead to dangerous pressures for a denuclearized Europe or the speeded-up withdrawal of American troops, Mr. Roper in London sees a more positive scenario.@@@@1@43@@oe@2-2-2013
20922031@unknown@formal@none@1@S@"There seems to be a message from Moscow there's a deal on offer," he says.@@@@1@15@@oe@2-2-2013
20922032@unknown@formal@none@1@S@"They want reassurance we won't try to undermine or destroy the Warsaw Pact. . . .@@@@1@16@@oe@2-2-2013
20922033@unknown@formal@none@1@S@In return, the U.K. and France could keep their nuclear weapons.@@@@1@11@@oe@2-2-2013
20922034@unknown@formal@none@1@S@He adds: "Once both sides feel comfortable, it should be that much easier to make more progress toward the economic and social reforms that are now starting in the East.@@@@1@30@@oe@2-2-2013
20923001@unknown@formal@none@1@S@Kyle Technology Corp. said a Seattle investor has signed a letter of intent to buy the company for about $3.1 million, or $1.20 a share.@@@@1@25@@oe@2-2-2013
20923002@unknown@formal@none@1@S@The investor, Donald A. Wright, plans to run the company, said a spokesman for Kyle.@@@@1@15@@oe@2-2-2013
20923003@unknown@formal@none@1@S@The transaction has been approved by Kyle's board, but requires the approval of the company's shareholders.@@@@1@16@@oe@2-2-2013
20923004@unknown@formal@none@1@S@Kyle manufactures electronic components.@@@@1@4@@oe@2-2-2013
20924001@unknown@formal@none@1@S@Dominion Textile Inc. holders adopted a shareholder-rights plan at the annual meeting.@@@@1@12@@oe@2-2-2013
20924002@unknown@formal@none@1@S@The so-called poison pill took effect Aug. 9 pending ratification by holders.@@@@1@12@@oe@2-2-2013
20924003@unknown@formal@none@1@S@Rights attached to the company's common shares were issued that are triggered if a hostile bidder acquires more than 20% of the shares outstanding.@@@@1@24@@oe@2-2-2013
20924004@unknown@formal@none@1@S@Once triggered, the rights allow holders to buy additional shares at 50% of the then current market price or, at the board's discretion, to receive securities or assets.@@@@1@28@@oe@2-2-2013
20924005@unknown@formal@none@1@S@Separately, Dominion Textile posted net income of 4.7 million Canadian dollars ($4 million), or 12 Canadian cents a share, for the fiscal-first quarter ended Sept. 30.@@@@1@26@@oe@2-2-2013
20924006@unknown@formal@none@1@S@The company had a net loss of C$2.3 million, or 14 Canadian cents a share, a year ago.@@@@1@18@@oe@2-2-2013
20924007@unknown@formal@none@1@S@Sales were C$348.2 million compared with C$307.2 a year earlier.@@@@1@10@@oe@2-2-2013
20925001@unknown@formal@none@1@S@Computer Sciences Corp. said it received a U.S. Postal Service contract that will have a value of at least $33 million.@@@@1@21@@oe@2-2-2013
20925002@unknown@formal@none@1@S@Computer Sciences will perform data processing work for the Postal Service under the three-year contract, which also includes two additional option years for which compensation hasn't yet been fixed.@@@@1@29@@oe@2-2-2013
20925003@unknown@formal@none@1@S@Computer Sciences said its work will improve mail-processing efficiency.@@@@1@9@@oe@2-2-2013
20925004@unknown@formal@none@1@S@For its fiscal year ended March 31, Computer Sciences had revenue of $1.3 billion.@@@@1@14@@oe@2-2-2013
20926001@unknown@formal@none@1@S@Ohbayashi Corp. agreed to buy E.W. Howell Co., the U.S. subsidiary of Selmer-Sande AS, of Norway, for about $7 million.@@@@1@20@@oe@2-2-2013
20926002@unknown@formal@none@1@S@Howell, a Port Washington, N.Y., construction concern, was established in 1891.@@@@1@11@@oe@2-2-2013
20926003@unknown@formal@none@1@S@It has three U.S. branches.@@@@1@5@@oe@2-2-2013
20926004@unknown@formal@none@1@S@Ohbayashi officials said the purchase was undertaken to participate in ventures in and around New York City.@@@@1@17@@oe@2-2-2013
20926005@unknown@formal@none@1@S@They said Howell is particularly successful there because of its membership cooperation with local unions.@@@@1@15@@oe@2-2-2013
20926006@unknown@formal@none@1@S@Ohbayashi is Japan's second largest construction company.@@@@1@7@@oe@2-2-2013
20926007@unknown@formal@none@1@S@Until now, its inability to form membership ties with organized labor has kept it from penetrating the lucrative New York metropolitan area construction market.@@@@1@24@@oe@2-2-2013
20926008@unknown@formal@none@1@S@The company also hopes the latest acquisition will help secure large construction orders from Japanese concerns with U.S. operations.@@@@1@19@@oe@2-2-2013
20926009@unknown@formal@none@1@S@Ohbayashi cited industry publications crediting Howell, currently capitalized at $2.2 million, with receiving orders valued at $225 million in 1988.@@@@1@20@@oe@2-2-2013
20926010@unknown@formal@none@1@S@The Japanese company received orders totaling 12.44 billion yen ($87.9 million) from its U.S. business activities during the fiscal year ended in March.@@@@1@23@@oe@2-2-2013
20927001@unknown@formal@none@1@S@H. Marshall Schwarz was named chairman and chief executive officer of U.S. Trust Corp., a private-banking firm with assets under management of about $17 billion.@@@@1@25@@oe@2-2-2013
20927002@unknown@formal@none@1@S@Mr. Schwarz, 52 years old, will succeed Daniel P. Davison Feb. 1, soon after Mr. Davison reaches the company's mandatory retirement age of 65.@@@@1@24@@oe@2-2-2013
20927003@unknown@formal@none@1@S@Mr. Schwarz, who is president of U.S. Trust, will be succeeded in that post by Jeffrey S. Maurer, 42, who is executive vice president in charge of the company's asset-management group.@@@@1@31@@oe@2-2-2013
20927004@unknown@formal@none@1@S@U.S. Trust, a 136-year-old institution that is one of the earliest high-net worth banks in the U.S., has faced intensifying competition from other firms that have established, and heavily promoted, private-banking businesses of their own.@@@@1@35@@oe@2-2-2013
20927005@unknown@formal@none@1@S@As a result, U.S. Trust's earnings have been hurt.@@@@1@9@@oe@2-2-2013
20927006@unknown@formal@none@1@S@But Mr. Schwarz welcomes the competition in U.S. Trust's flagship businesses, calling it "flattery."@@@@1@14@@oe@2-2-2013
20927007@unknown@formal@none@1@S@Mr. Schwarz says the competition "broadens the base of opportunity for us."@@@@1@12@@oe@2-2-2013
20927008@unknown@formal@none@1@S@Other firms "are dealing with the masses.@@@@1@7@@oe@2-2-2013
20927009@unknown@formal@none@1@S@I don't believe they have the culture" to adequately service high-net-worth individuals, he adds.@@@@1@14@@oe@2-2-2013
20927010@unknown@formal@none@1@S@U.S. Trust recently introduced certain mutual-fund products, which allow it to serve customers with minimum deposits of $250,000.@@@@1@18@@oe@2-2-2013
20927011@unknown@formal@none@1@S@Previously, the company advertised at the $2 million level.@@@@1@9@@oe@2-2-2013
20927012@unknown@formal@none@1@S@"We have always taken smaller accounts, but now we are looking for smaller accounts that will grow," Mr. Schwarz says.@@@@1@20@@oe@2-2-2013
20927013@unknown@formal@none@1@S@"Our bread and butter is still the $2 million to $20 million account," he says.@@@@1@15@@oe@2-2-2013
20927014@unknown@formal@none@1@S@The new services allow U.S. Trust to cater to the "new wealth," Mr. Schwarz says.@@@@1@15@@oe@2-2-2013
20927015@unknown@formal@none@1@S@Quarterly net income this year has risen just over comparable periods in 1988, when year-end net was below the 1987 level.@@@@1@21@@oe@2-2-2013
20927016@unknown@formal@none@1@S@In this year's third quarter, for example, net was $10.5 million, or $1.05 a share, compared with $10.3 million, or $1.02 a share, a year earlier.@@@@1@26@@oe@2-2-2013
20927017@unknown@formal@none@1@S@Assets as of Sept. 30 fell to $2.46 billion from about $2.77 billion.@@@@1@13@@oe@2-2-2013
20927018@unknown@formal@none@1@S@"We will have a reasonably flat year this year," Mr. Schwarz says.@@@@1@12@@oe@2-2-2013
20927019@unknown@formal@none@1@S@Mr. Schwarz also said costs associated with U.S. Trust's planned move to midtown Manhattan from Wall Street will continue to be a drag on earnings through 1990.@@@@1@27@@oe@2-2-2013
20927020@unknown@formal@none@1@S@Mr. Schwarz's great-grandfather founded the New York toy store F.A.O. Schwarz, but his family no longer has ties to the company.@@@@1@21@@oe@2-2-2013
20927021@unknown@formal@none@1@S@Mr. Schwarz's father was a U.S. Trust trustee until 1974.@@@@1@10@@oe@2-2-2013
20927022@unknown@formal@none@1@S@U.S. Trust also created a four-member office of the chairman, effective Feb. 1.@@@@1@13@@oe@2-2-2013
20927023@unknown@formal@none@1@S@It will include Messrs. Schwarz and Maurer.@@@@1@7@@oe@2-2-2013
20927024@unknown@formal@none@1@S@Donald M. Roberts, 54, treasurer, and Frederick S. Wonham, 58, who takes responsibility for the funds-service group, were named vice chairmen and will serve in the office of the chairman.@@@@1@30@@oe@2-2-2013
20927025@unknown@formal@none@1@S@Mr. Roberts continues as treasurer, and Mr. Wonham remains responsible for the offices of comptroller, planning, marketing and general services.@@@@1@20@@oe@2-2-2013
20927026@unknown@formal@none@1@S@Frederick B. Taylor, 48, also was named a vice chairman and chief investment officer, a new post.@@@@1@17@@oe@2-2-2013
20927027@unknown@formal@none@1@S@He previously held similar responsibilities.@@@@1@5@@oe@2-2-2013
20927028@unknown@formal@none@1@S@Mr. Taylor also was named a director, increasing the board to 22, but is not part of the new office of the chairman.@@@@1@23@@oe@2-2-2013
20927029@unknown@formal@none@1@S@James E. Bacon, 58, executive vice president, who has directed the funds-service group, will retire.@@@@1@15@@oe@2-2-2013
20928001@unknown@formal@none@1@S@Sun Microsystems Inc., snapping back to profitability after its first quarterly loss as a public firm, said it earned $5.2 million, or seven cents a share, in the fiscal first quarter.@@@@1@31@@oe@2-2-2013
20928002@unknown@formal@none@1@S@Sun, a maker of computer workstations, reported sales of $538.5 million for the quarter ended Sept. 29, up 39% from $388.5 million a year earlier.@@@@1@25@@oe@2-2-2013
20928003@unknown@formal@none@1@S@In the 1988 period, the company earned $20.6 million, or 26 cents a share.@@@@1@14@@oe@2-2-2013
20928004@unknown@formal@none@1@S@Sun's results were slightly better than expectations.@@@@1@7@@oe@2-2-2013
20928005@unknown@formal@none@1@S@Earlier this month, the company said it expected to break even for the quarter on sales of $530 million.@@@@1@19@@oe@2-2-2013
20928006@unknown@formal@none@1@S@In a statement, Scott McNealy, Sun's chief executive officer, said the company's performance was hampered by problems tied to the introduction of a major new family of computers in April.@@@@1@30@@oe@2-2-2013
20928007@unknown@formal@none@1@S@One of those new computers, called Sparcstation 1, accounted for nearly half of the 28,000 systems Sun shipped in the quarter, he said.@@@@1@23@@oe@2-2-2013
20928008@unknown@formal@none@1@S@More than two-thirds of the systems shipped, meanwhile, were products introduced in April.@@@@1@13@@oe@2-2-2013
20928009@unknown@formal@none@1@S@But problems in manufacturing, forecasting demand and getting the bugs out of a new management information system made it extremely difficult for Sun to meet demand for its newest computers well into the summer.@@@@1@34@@oe@2-2-2013
20928010@unknown@formal@none@1@S@These problems also resulted in Sun reporting a $20.3 million loss for its fourth quarter ended June 30.@@@@1@18@@oe@2-2-2013
20928011@unknown@formal@none@1@S@Mr. McNealy said the issues that hurt Sun's performance earlier this year are now "largely" behind the firm, and he indicated that Sun's profitability should increase throughout the fiscal year.@@@@1@30@@oe@2-2-2013
20928012@unknown@formal@none@1@S@Sun also reported a record backlog of orders.@@@@1@8@@oe@2-2-2013
20928013@unknown@formal@none@1@S@While this indicates continued strong demand for the company's desk-top computers, Sun faces increasing competition from Digital Equipment Corp. and Hewlett-Packard Co.@@@@1@22@@oe@2-2-2013
20928014@unknown@formal@none@1@S@Recently, analysts have said Sun also is vulnerable to competition from International Business Machines Corp., which plans to introduce a group of workstations early next year, and Next Inc.@@@@1@29@@oe@2-2-2013
20929001@unknown@formal@none@1@S@C.B. Rogers Jr. was named chief executive officer of this business information concern.@@@@1@13@@oe@2-2-2013
20929002@unknown@formal@none@1@S@Mr. Rogers, 60 years old, succeeds J.V. White, 64, who will remain chairman and chairman of the executive committee.@@@@1@19@@oe@2-2-2013
20929003@unknown@formal@none@1@S@Mr. Rogers, who was president and chief operating officer of Equifax, will retain his position as president.@@@@1@17@@oe@2-2-2013
20929004@unknown@formal@none@1@S@The company said a new chief operating officer won't be appointed.@@@@1@11@@oe@2-2-2013
20930001@unknown@formal@none@1@S@A merchant bank and investment fund have agreed to co-sponsor a reorganization plan to bring Sharon Steel Corp. out of Chapter 11 proceedings and to acquire the company's steel-related assets in a transaction valued at more than $300 million.@@@@1@39@@oe@2-2-2013
20930002@unknown@formal@none@1@S@Castle Harlan Inc., a New York merchant bank, and Quantum Fund said they would acquire the assets for a combination of cash and the assumption of certain of Sharon's liabilities.@@@@1@30@@oe@2-2-2013
20930003@unknown@formal@none@1@S@The balance of the company's assets and liabilities would be transferred to a new company that would be owned by Sharon's creditors.@@@@1@22@@oe@2-2-2013
20930004@unknown@formal@none@1@S@Quantum said it has agreed to purchase as much as $50 million in equity in the new company, if necessary, for the confirmation of the plan.@@@@1@26@@oe@2-2-2013
20930005@unknown@formal@none@1@S@Castle Harlan and Quantum said the plan is expected to be filed within 60 days with the U.S. Bankruptcy Court in Pittsburgh.@@@@1@22@@oe@2-2-2013
20930006@unknown@formal@none@1@S@The agreement is subject to certain conditions, including obtaining financing.@@@@1@10@@oe@2-2-2013
20930007@unknown@formal@none@1@S@Castle Harlan said that such financing is already being sought and that a formal proposal would be made to Sharon's Chapter 11 trustee and other Sharon creditors over the next few days.@@@@1@32@@oe@2-2-2013
20930008@unknown@formal@none@1@S@Sharon, based in Farrell, Pa., filed for protection from creditors under the federal Bankruptcy Code in April 1987.@@@@1@18@@oe@2-2-2013
20930009@unknown@formal@none@1@S@The company had been one of the maninstays of Miami Beach financier Victor Posner's empire.@@@@1@15@@oe@2-2-2013
20930010@unknown@formal@none@1@S@Mr. Posner resigned as president and chief executive officer of Sharon in April 1988.@@@@1@14@@oe@2-2-2013
20930011@unknown@formal@none@1@S@He remains chairman, but wields little power at the company.@@@@1@10@@oe@2-2-2013
20930012@unknown@formal@none@1@S@Quantum Fund, based in New York, is a $2.1 billion investment fund managed by Soros Fund Management.@@@@1@17@@oe@2-2-2013
20930013@unknown@formal@none@1@S@Quantum is Sharon's largest unsecured creditor.@@@@1@6@@oe@2-2-2013
20930014@unknown@formal@none@1@S@The Castle Harlan group includes Walter Sieckman, former chief operating officer of Sharon, and Wolfgang Jansen, former executive vice president.@@@@1@20@@oe@2-2-2013
20930015@unknown@formal@none@1@S@Executives at Sharon declined to comment on the proposal.@@@@1@9@@oe@2-2-2013
20930016@unknown@formal@none@1@S@The company's trustee, F.E. Agnew, was unavailable for comment.@@@@1@9@@oe@2-2-2013
20931001@unknown@formal@none@1@S@Two old friends, George Bush and Deng Xiaoping, are trying to limit further damage to U.S.-China ties.@@@@1@17@@oe@2-2-2013
20931002@unknown@formal@none@1@S@But as Congress prepares a fresh package of sanctions against Beijing, the already-tense relationship could get worse.@@@@1@17@@oe@2-2-2013
20931003@unknown@formal@none@1@S@The problem for Congress will be to weigh what China is saying to its people against the more conciliatory message it is delivering to the Bush administration.@@@@1@27@@oe@2-2-2013
20931004@unknown@formal@none@1@S@In a move apparently aimed at heading off new punitive legislation, Mr. Deng sent an indirect signal to Washington via T.D. Lee, a Columbia University physicist who met Mr. Deng and other Chinese leaders in Beijing last month.@@@@1@38@@oe@2-2-2013
20931005@unknown@formal@none@1@S@When he met with Mr. Bush on his return, Mr. Lee says, he told the president that the Chinese "made statements to me that I regard as a first step toward reconciliation."@@@@1@32@@oe@2-2-2013
20931006@unknown@formal@none@1@S@The communication Mr. Lee brought represents the softer line the U.S. has been hoping to hear from Chinese officials since the June 4 massacre of pro-democracy demonstrators in Beijing.@@@@1@29@@oe@2-2-2013
20931007@unknown@formal@none@1@S@The Chinese leader, Mr. Lee informed Mr. Bush, expressed some regret for what had happened in Beijing and conceded that China's officials bore some responsibility.@@@@1@25@@oe@2-2-2013
20931008@unknown@formal@none@1@S@Mr. Lee says Mr. Deng told him: "We should not mind those who participated in demonstrations, signed anti-government materials and went on hunger strikes."@@@@1@24@@oe@2-2-2013
20931009@unknown@formal@none@1@S@Mr. Deng added, says Mr. Lee, that "we really made mistakes.@@@@1@11@@oe@2-2-2013
20931010@unknown@formal@none@1@S@We must not shirk our responsibility and we cannot just blame the demonstrators."@@@@1@13@@oe@2-2-2013
20931011@unknown@formal@none@1@S@Mr. Lee also reported to the president that, in a separate meeting, Communist Party chief Jiang Zemin said the Chinese leadership "looked kindly on the students who took part in the demonstrations."@@@@1@32@@oe@2-2-2013
20931012@unknown@formal@none@1@S@Mr. Jiang also pledged that the Chinese Red Cross would publish "very soon" a list of those killed.@@@@1@18@@oe@2-2-2013
20931013@unknown@formal@none@1@S@And he told the physicist that China's leaders were "very much concerned" about the deaths and had arranged aid for the victims' families.@@@@1@23@@oe@2-2-2013
20931014@unknown@formal@none@1@S@"I transmitted my conversations to the White House," Prof. Lee says.@@@@1@11@@oe@2-2-2013
20931015@unknown@formal@none@1@S@But, he adds, "I was not acting as a messenger."@@@@1@10@@oe@2-2-2013
20931016@unknown@formal@none@1@S@He says that the Chinese never asked him to convey their statements to President Bush, but that the White House spontaneously invited him to do so.@@@@1@26@@oe@2-2-2013
20931017@unknown@formal@none@1@S@Mr. Lee concedes the statements made to him are far different from others being issued in China, but attributes that to the fact that the situation in China is "very complex."@@@@1@31@@oe@2-2-2013
20931018@unknown@formal@none@1@S@According to U.S. sources in Beijing, the administration hopes Mr. Deng's fairly conciliatory comments will prod Congress to be cautious about further sanctions against Beijing.@@@@1@25@@oe@2-2-2013
20931019@unknown@formal@none@1@S@"The president doesn't want to have legislative sanctions," says a U.S. official.@@@@1@12@@oe@2-2-2013
20931020@unknown@formal@none@1@S@"But he may not have a choice."@@@@1@7@@oe@2-2-2013
20931021@unknown@formal@none@1@S@Given China's far-from-conciliatory statements to its own people, Mr. Bush may be unable to prevent new sanctions.@@@@1@17@@oe@2-2-2013
20931022@unknown@formal@none@1@S@Beijing officials have said they will step up the campaign of arrests and intimidation against those who participated in the demonstrations.@@@@1@21@@oe@2-2-2013
20931023@unknown@formal@none@1@S@Sentences have been stiff.@@@@1@4@@oe@2-2-2013
20931024@unknown@formal@none@1@S@A university student got eight years for participating in the rallies, sources in Beijing said, while an 18-year-old worker got 10 years.@@@@1@22@@oe@2-2-2013
20931025@unknown@formal@none@1@S@Nor has Beijing hinted to its citizens that it will publish the identities of those killed.@@@@1@16@@oe@2-2-2013
20931026@unknown@formal@none@1@S@So far, the victims are officially considered evil-doers, and their families receive no compensation.@@@@1@14@@oe@2-2-2013
20931027@unknown@formal@none@1@S@A man gunned down by a stray bullet while cycling to work carries, after his death, the official stigma of "counterrevolutionary," his wife says.@@@@1@24@@oe@2-2-2013
20931028@unknown@formal@none@1@S@What's more, much of China's official rhetoric is hostile to the U.S.@@@@1@12@@oe@2-2-2013
20931029@unknown@formal@none@1@S@China frequently lambastes the U.S. Embassy for harboring astrophysicist Fang Lizhi, a political dissident who took refuge there after the massacre.@@@@1@21@@oe@2-2-2013
20931030@unknown@formal@none@1@S@"In the U.S., there are still people who want to crush China and interfere in our internal affairs," Zhu Qizhen, China's new ambassador to the U.S., said as he left for Washington last week.@@@@1@34@@oe@2-2-2013
20931031@unknown@formal@none@1@S@The House and Senate are to begin soon hashing out an agreement for sanctions legislation.@@@@1@15@@oe@2-2-2013
20931032@unknown@formal@none@1@S@It will probably be attached to a State Department authorization bill, which Mr. Bush isn't expected to veto.@@@@1@18@@oe@2-2-2013
20931033@unknown@formal@none@1@S@A congressional staffer involved in drafting the sanctions says they are likely to mirror those Mr. Bush enacted shortly after the massacre.@@@@1@22@@oe@2-2-2013
20931034@unknown@formal@none@1@S@But as legislative action, they would carry greater weight and would be more difficult to rescind.@@@@1@16@@oe@2-2-2013
20931035@unknown@formal@none@1@S@Measures already in effect that are expected to be made law include a ban on military sales and exchanges, a suspension of most high-level government contacts and a halt to U.S. trade enhancement programs, such as the Overseas Private Investment Corp. and the Trade Development Program.@@@@1@46@@oe@2-2-2013
20931036@unknown@formal@none@1@S@Codifying those sanctions could prompt Chinese retaliation.@@@@1@7@@oe@2-2-2013
20931037@unknown@formal@none@1@S@"If the two sides aren't careful, U.S.-China ties could spin downward, out of control," says a U.S. official in Beijing.@@@@1@20@@oe@2-2-2013
20931038@unknown@formal@none@1@S@"Bush and Deng are hoping {that} cooler heads prevail.@@@@1@9@@oe@2-2-2013
20932001@unknown@formal@none@1@S@The amount of blood surgical patients can donate and store before surgery can be increased by the new genetically engineered drug, EPO.@@@@1@22@@oe@2-2-2013
20932002@unknown@formal@none@1@S@EPO, or erythropoietin, is a protein the human body makes to stimulate the growth of red blood cells.@@@@1@18@@oe@2-2-2013
20932003@unknown@formal@none@1@S@A genetically engineered version of the human protein developed by Amgen Corp. of Thousand Oaks, Calif., recently has been marketed by the Ortho Pharmaceuticals division of Johnson & Johnson.@@@@1@29@@oe@2-2-2013
20932004@unknown@formal@none@1@S@A competing version of EPO is being developed by Genetics Institute Inc. in Cambridge, Mass.@@@@1@15@@oe@2-2-2013
20932005@unknown@formal@none@1@S@The drug is being used primarily to treat anemias.@@@@1@9@@oe@2-2-2013
20932006@unknown@formal@none@1@S@A new experiment, reported in this week's New England Journal of Medicine, involved giving injections of Amgen's EPO to 23 patients who wanted to store units of their own blood.@@@@1@30@@oe@2-2-2013
20932007@unknown@formal@none@1@S@The patients began receiving EPO injections about a month before their scheduled surgery.@@@@1@13@@oe@2-2-2013
20932008@unknown@formal@none@1@S@They then began donating blood twice a week, receiving an EPO injection each time.@@@@1@14@@oe@2-2-2013
20932009@unknown@formal@none@1@S@If tests indicated a low number of red cells, blood wasn't taken.@@@@1@12@@oe@2-2-2013
20932010@unknown@formal@none@1@S@The EPO-treated patients donated an average of 5.4 units of blood each compared with only 4.1 units donated by a similar group of surgical patients who received a placebo injection.@@@@1@30@@oe@2-2-2013
20932011@unknown@formal@none@1@S@The volume of red cells donated by the EPO-treated patients was 41% higher per donor, the research team representing a number of hospitals and blood banks reported.@@@@1@27@@oe@2-2-2013
20933001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
20933002@unknown@formal@none@1@S@TAX SHELTERS CALLED Individual Retirement Accounts, or "IRAs," were created without fanfare on Sept. 2, 1974, but grew beyond expectations as an inducement to personal saving.@@@@1@26@@oe@2-2-2013
20933003@unknown@formal@none@1@S@That Labor Day, in his first major act after succeeding the resigned Richard Nixon as president, Gerald R. Ford signed the Employee Retirement Income Security Act.@@@@1@26@@oe@2-2-2013
20933004@unknown@formal@none@1@S@Pension reform was its main thrust.@@@@1@6@@oe@2-2-2013
20933005@unknown@formal@none@1@S@Labor and business leaders, quoted at the White House Rose Garden rites, hailed its provisions for insuring corporate pension benefits.@@@@1@20@@oe@2-2-2013
20933006@unknown@formal@none@1@S@IRAs were like stepchildren there.@@@@1@5@@oe@2-2-2013
20933007@unknown@formal@none@1@S@The IRA's conception is murky.@@@@1@5@@oe@2-2-2013
20933008@unknown@formal@none@1@S@In 1972, then Treasury Secretary George Shultz, with the key support of Sen. Carl Curtis, sought some form of pensions for the uncovered.@@@@1@23@@oe@2-2-2013
20933009@unknown@formal@none@1@S@That year a four-man group headed by William Lieber in the Legislation and Regulations division of the Office of the Chief Counsel for the Internal Revenue Service, was assigned the task of designing a plan.@@@@1@35@@oe@2-2-2013
20933010@unknown@formal@none@1@S@They used the 1962 Keogh Plan, a pension plan created by a New York congressman for the self-employed, as a partial model.@@@@1@22@@oe@2-2-2013
20933011@unknown@formal@none@1@S@This team initially called its new model Personal Retirement Account, or "PRA."@@@@1@12@@oe@2-2-2013
20933012@unknown@formal@none@1@S@But it didn't sing.@@@@1@4@@oe@2-2-2013
20933013@unknown@formal@none@1@S@So they opted for IRA, naming it after Ira Cohen, a brilliant IRS actuary who helped them.@@@@1@17@@oe@2-2-2013
20933014@unknown@formal@none@1@S@Ira, himself, confirms this account.@@@@1@5@@oe@2-2-2013
20933015@unknown@formal@none@1@S@IRA rules have been changed over the years.@@@@1@8@@oe@2-2-2013
20933016@unknown@formal@none@1@S@One in 1981 raised to $2,000 a year from $1,500 the amount a person could put, tax-deductible, into the tax-deferred accounts and widened coverage to people under employer retirement plans.@@@@1@30@@oe@2-2-2013
20933017@unknown@formal@none@1@S@This caused an explosion of IRA promotions by brokers, banks, mutual funds and others.@@@@1@14@@oe@2-2-2013
20933018@unknown@formal@none@1@S@But in 1986 Congress sharply reduced the number of people who could qualify for its benefits and IRA tax-deductions slowed their roaring growth.@@@@1@23@@oe@2-2-2013
20933019@unknown@formal@none@1@S@IRA account assets have grown to about $400 billion from $393 billion last year and just $26 billion in 1981.@@@@1@20@@oe@2-2-2013
20934001@unknown@formal@none@1@S@The Soviet State Bank announced a 90% devaluation of the ruble against the dollar for private transactions, in an apparent attempt to curb the nation's rapidly growing black market for hard currency.@@@@1@32@@oe@2-2-2013
20934002@unknown@formal@none@1@S@The measure, which will take effect next Wednesday, will create a two-tier exchange rate.@@@@1@14@@oe@2-2-2013
20934003@unknown@formal@none@1@S@Commercial transactions will continue to be based on the official rate of about 0.63 rubles to the dollar.@@@@1@18@@oe@2-2-2013
20934004@unknown@formal@none@1@S@But for Soviet citizens who travel abroad for business or tourism, the rate will jump to 6.26 rubles to the dollar.@@@@1@21@@oe@2-2-2013
20934005@unknown@formal@none@1@S@Tass news agency said the devaluation also will apply to foreigners' transactions.@@@@1@12@@oe@2-2-2013
20934006@unknown@formal@none@1@S@But it didn't elaborate, and it remains unclear how far Western tourists and foreigners living in Moscow will be allowed to benefit from the sweeping rate cut.@@@@1@27@@oe@2-2-2013
20934007@unknown@formal@none@1@S@The current ruble rate has long been out of line with the black market.@@@@1@14@@oe@2-2-2013
20934008@unknown@formal@none@1@S@As Soviet leader Mikhail Gorbachev has opened up the country to foreign trade, the discrepancy has become ever greater.@@@@1@19@@oe@2-2-2013
20934009@unknown@formal@none@1@S@Western tourists in the Soviet Union who could exchange a dollar -- albeit illegally -- for about four rubles a year ago are now being offered 15 rubles or more.@@@@1@30@@oe@2-2-2013
20934010@unknown@formal@none@1@S@Even at such rates, black marketeers have been able to make big profits because of the dire shortage of consumer goods here.@@@@1@22@@oe@2-2-2013
20934011@unknown@formal@none@1@S@They use dollars to buy Western items such as video recorders and personal computers and then sell them at a huge mark-up.@@@@1@22@@oe@2-2-2013
20934012@unknown@formal@none@1@S@The going rate for a small personal computer that costs about $2,000 in the West is anywhere from 50,000 to 100,000 rubles.@@@@1@22@@oe@2-2-2013
20934013@unknown@formal@none@1@S@Even a pack of 20 Western cigarettes can fetch 20 rubles or more.@@@@1@13@@oe@2-2-2013
20934014@unknown@formal@none@1@S@With more than 300 billion rubles in savings accounts and little to spend them on, Soviet consumers grumble at the exorbitant black-market prices for such goods -- but they buy them anyway.@@@@1@32@@oe@2-2-2013
20934015@unknown@formal@none@1@S@Moscow has already tacitly admitted that the ruble isn't worth much, announcing in August that it will pay Soviet farmers in hard currency for grain and other produce that they grow in excess of state-plan quotas.@@@@1@36@@oe@2-2-2013
20934016@unknown@formal@none@1@S@"The absurdity of the official rate should seem obvious to everyone," the afternoon newspaper Izvestia wrote in a brief commentary on the devaluation.@@@@1@23@@oe@2-2-2013
20934017@unknown@formal@none@1@S@The State Bank's move is part of a drive to iron out exchange-rate discrepancies as Moscow moves toward making the ruble convertible -- a goal that Soviet bankers and economists say is still far away.@@@@1@35@@oe@2-2-2013
20934018@unknown@formal@none@1@S@Rumors of an impending devaluation have been circulating in Moscow for weeks, but the size of the cut took many Western bankers by surprise.@@@@1@24@@oe@2-2-2013
20934019@unknown@formal@none@1@S@"It's much bigger than we expected," said one German banker, who asked not to be named.@@@@1@16@@oe@2-2-2013
20934020@unknown@formal@none@1@S@The next step, which could have a larger effect on businesses, will come early next month, when the Bank for Foreign Economic Affairs is to hold its first auction of foreign currency.@@@@1@32@@oe@2-2-2013
20934021@unknown@formal@none@1@S@Soviet companies needing Western currencies to buy equipment and supplies abroad will be able to submit bids.@@@@1@17@@oe@2-2-2013
20934022@unknown@formal@none@1@S@Plans for the auction, which was supposed to take place last spring and become a regular event, have been thwarted by a lack of hard currency.@@@@1@26@@oe@2-2-2013
20934023@unknown@formal@none@1@S@Soviet firms that hold some are unwilling to part with it, and joint ventures aren't yet allowed to participate.@@@@1@19@@oe@2-2-2013
20934024@unknown@formal@none@1@S@The Kremlin also has been unwilling to provide hard currency for the auction, using a lot of it instead to finance emergency imports of consumer goods.@@@@1@26@@oe@2-2-2013
20934025@unknown@formal@none@1@S@If foreign tourists and businesses could sell their currencies freely at the new, better exchange rate, that would enable the State Bank to increase its dollar reserves and would mop up some of the excess rubles in the economy at the same time.@@@@1@43@@oe@2-2-2013
20934026@unknown@formal@none@1@S@But the amounts they exchange may be limited; most Soviet hotels, for example, demand payment in hard currency from Western visitors.@@@@1@21@@oe@2-2-2013
20934027@unknown@formal@none@1@S@Unless other rules are changed, the devaluation could cause difficulties for the people it is primarily meant to help: Soviets who travel abroad.@@@@1@23@@oe@2-2-2013
20934028@unknown@formal@none@1@S@Over the past three years, thousands of people here have made use of looser travel restrictions to get their first taste of life abroad.@@@@1@24@@oe@2-2-2013
20934029@unknown@formal@none@1@S@But under current rules, they are allowed to change just 200 rubles into dollars and other currencies for each trip.@@@@1@20@@oe@2-2-2013
20934030@unknown@formal@none@1@S@At the new rate, that would give them about $30 to travel on.@@@@1@13@@oe@2-2-2013
20934031@unknown@formal@none@1@S@It isn't yet clear whether the 200-ruble limit will be lifted.@@@@1@11@@oe@2-2-2013
20934032@unknown@formal@none@1@S@If it isn't, the black market for dollars probably will continue to thrive.@@@@1@13@@oe@2-2-2013
20935001@unknown@formal@none@1@S@International Business Machines Corp. made news this summer when it landed an unusual contract to manage all of Eastman Kodak Co.'s data-processing needs.@@@@1@23@@oe@2-2-2013
20935002@unknown@formal@none@1@S@But the computer giant appears to have lost a second key contract with Kodak to archrival Digital Equipment Corp.@@@@1@19@@oe@2-2-2013
20935003@unknown@formal@none@1@S@Kodak yesterday confirmed that it has entered negotiations with Maynard, Mass.-based Digital to manage all of its voice and data communications needs.@@@@1@22@@oe@2-2-2013
20935004@unknown@formal@none@1@S@Kodak, based in Rochester, N.Y., said IBM also had bid for the business.@@@@1@13@@oe@2-2-2013
20935005@unknown@formal@none@1@S@IBM is based in Armonk, N.Y.@@@@1@6@@oe@2-2-2013
20935006@unknown@formal@none@1@S@The loss is a setback to IBM, which pointed to the Kodak contract as an example of its success in systems integration.@@@@1@22@@oe@2-2-2013
20935007@unknown@formal@none@1@S@That's an emerging business in which computer makers or consultants provide turnkey communications and computing services to major corporations.@@@@1@19@@oe@2-2-2013
20935008@unknown@formal@none@1@S@A Kodak spokesman declined to disclose the potential value of the contract, which is still in negotiation.@@@@1@17@@oe@2-2-2013
20935009@unknown@formal@none@1@S@He said that American Telephone & Telegraph, MCI Communications Corp., Rochester Telephone Corp. and IBM itself would likely be Digital's subcontractors on the project.@@@@1@24@@oe@2-2-2013
20935010@unknown@formal@none@1@S@"When we decided to look outside the company for critical data-processing and communications services, we wanted to get the best vendor for that service," said Paul Allen, the spokesman.@@@@1@29@@oe@2-2-2013
20935011@unknown@formal@none@1@S@"That's why we went with IBM for data center management . . . and now Digital for voice and data telecommunications.@@@@1@21@@oe@2-2-2013
20936001@unknown@formal@none@1@S@This year is the 75th anniversary of the Federal Reserve System, and some members of Congress think it's time to take a fresh look at the nation's central bank.@@@@1@29@@oe@2-2-2013
20936002@unknown@formal@none@1@S@After 75 years there may be a few things that are worth reexamining.@@@@1@13@@oe@2-2-2013
20936003@unknown@formal@none@1@S@The regional Federal Reserve Bank setup, for instance, may be out of date.@@@@1@13@@oe@2-2-2013
20936004@unknown@formal@none@1@S@In earlier years it may have seemed reasonable to give Richmond, Va., a bank and allow Los Angeles only a branch of the San Francisco bank, but times have changed.@@@@1@30@@oe@2-2-2013
20936005@unknown@formal@none@1@S@Maybe the whole regional system is an anachronism; the Fed, after all, is a national central bank.@@@@1@17@@oe@2-2-2013
20936006@unknown@formal@none@1@S@Some of the would-be reformers, however, want to restore an arrangement we once had -- or, at least, part of it.@@@@1@21@@oe@2-2-2013
20936007@unknown@formal@none@1@S@In the beginning, the treasury secretary and the comptroller of the currency were both ex officio members of the Federal Reserve Board.@@@@1@22@@oe@2-2-2013
20936008@unknown@formal@none@1@S@But in 1935, when Congress was trying to find someone or something to blame for the Great Depression, it decided to drop both the secretary and the comptroller from the board.@@@@1@31@@oe@2-2-2013
20936009@unknown@formal@none@1@S@Carter Glass, a former treasury secretary who was then back in Congress, probably influenced the decision.@@@@1@16@@oe@2-2-2013
20936010@unknown@formal@none@1@S@He said that when he was on the board he felt that he had a great deal of power and, somehow, he didn't think that was a good thing.@@@@1@29@@oe@2-2-2013
20936011@unknown@formal@none@1@S@Times have changed.@@@@1@3@@oe@2-2-2013
20936012@unknown@formal@none@1@S@Rep. Byron Dorgan (D., N.D.) has introduced a bill in Congress, co-sponsored by Rep. Lee Hamilton (D., Ind.), that would put the treasury secretary back on the board.@@@@1@28@@oe@2-2-2013
20936013@unknown@formal@none@1@S@There is doubt that the change would accomplish much but at least Congress, as in 1935, would be doing something.@@@@1@20@@oe@2-2-2013
20936014@unknown@formal@none@1@S@So far no one has suggested putting the comptroller back on the board.@@@@1@13@@oe@2-2-2013
20936015@unknown@formal@none@1@S@Nicholas Brady, the incumbent treasury secretary, is of course aware of the proposal, and he doesn't like it much.@@@@1@19@@oe@2-2-2013
20936016@unknown@formal@none@1@S@Mr. Dorgen has changed tactics, dropping the seat-for-the-secretary idea.@@@@1@9@@oe@2-2-2013
20936017@unknown@formal@none@1@S@That may have pleased the secretary, but H. Erich Heinemann, chief economist of the investment firm of Ladenburg, Thalmann & Co., suggests that Mr. Brady may figure he already has all the power he needs.@@@@1@35@@oe@2-2-2013
20936018@unknown@formal@none@1@S@Like most treasury secretaries, Mr. Brady takes a keen interest in monetary matters, of course.@@@@1@15@@oe@2-2-2013
20936019@unknown@formal@none@1@S@He was, in fact, taking an especially keen interest in board matters even before he went to the treasury.@@@@1@19@@oe@2-2-2013
20936020@unknown@formal@none@1@S@After the October 1987 market crash, Mr. Brady as a private citizen headed a presidential commission that tried to decide what went wrong and what should be done about it.@@@@1@30@@oe@2-2-2013
20936021@unknown@formal@none@1@S@One of the commission's recommendations was that a single agency, probably the Federal Reserve, should coordinate regulation of all financial markets.@@@@1@21@@oe@2-2-2013
20936022@unknown@formal@none@1@S@This recommendation might have encouraged a turf-hungry bureaucrat to try to expand his power, but so far Federal Reserve Chairman Alan Greenspan hasn't made a pitch for the job.@@@@1@29@@oe@2-2-2013
20936023@unknown@formal@none@1@S@The Fed has plenty of responsibilities in times of market turmoil and in 1987 and again in 1989 it appears to have handled them well.@@@@1@25@@oe@2-2-2013
20936024@unknown@formal@none@1@S@Mr. Brady has said he thought government agencies in the latest market drop were better prepared to coordinate their actions, but he has left no doubt that he still likes the ideas the commission advanced nearly two years ago.@@@@1@39@@oe@2-2-2013
20936025@unknown@formal@none@1@S@In recent weeks, moreover, Mr. Brady has joined other administration officials in trying to urge the Fed toward lower interest rates.@@@@1@21@@oe@2-2-2013
20936026@unknown@formal@none@1@S@The urging admittedly has been gentle.@@@@1@6@@oe@2-2-2013
20936027@unknown@formal@none@1@S@In an interview with the Washington Post in early October, the secretary said the Fed may be slightly more interested in curbing inflation than the administration is, while the administration may put slightly more emphasis on spurring economic growth.@@@@1@39@@oe@2-2-2013
20936028@unknown@formal@none@1@S@At least some economists, of course, would argue that inflation deserves a lot of emphasis.@@@@1@15@@oe@2-2-2013
20936029@unknown@formal@none@1@S@Earlier this month the St. Louis Fed held a conference to assess the system's first 75 years.@@@@1@17@@oe@2-2-2013
20936030@unknown@formal@none@1@S@Allan Meltzer, a Carnegie-Mellon University economist, noted that the Fed's record included the longest, most sustained, peacetime inflation in our history, dating from either 1966 or 1967 to 1989.@@@@1@29@@oe@2-2-2013
20936031@unknown@formal@none@1@S@The inflation-growth argument is an old one, but Mr. Brady, on the board or off, is surely trying to influence Fed policy.@@@@1@22@@oe@2-2-2013
20936032@unknown@formal@none@1@S@Equally importantly, the treasury secretary has spearheaded the administration effort to bring the U.S. dollar down by shopping avidly for West German marks and Japanese yen.@@@@1@26@@oe@2-2-2013
20936033@unknown@formal@none@1@S@The treasury can do something on its own, but to have any hope of success it needs help from the Fed.@@@@1@21@@oe@2-2-2013
20936034@unknown@formal@none@1@S@The central bank has been helping, but apparently not especially eagerly.@@@@1@11@@oe@2-2-2013
20936035@unknown@formal@none@1@S@The Fed has been intervening in foreign currency markets, all right, but through August, at least, it appeared to be "sterilizing" the intervention.@@@@1@23@@oe@2-2-2013
20936036@unknown@formal@none@1@S@In other words, it was offsetting purchases of marks and yen by buying dollars in the domestic money market.@@@@1@19@@oe@2-2-2013
20936037@unknown@formal@none@1@S@Now, sterilized intervention may have some effect.@@@@1@7@@oe@2-2-2013
20936038@unknown@formal@none@1@S@When traders see the Fed is in the exchange market it may make them tread a little carefully, for fear of what the central bank may do.@@@@1@27@@oe@2-2-2013
20936039@unknown@formal@none@1@S@But it's generally accepted that sterilized intervention has little or no lasting impact on currency values.@@@@1@16@@oe@2-2-2013
20936040@unknown@formal@none@1@S@After August the Fed may have stopped sterilizing, but it's hard to see much impact on the dollar.@@@@1@18@@oe@2-2-2013
20936041@unknown@formal@none@1@S@The dollar is still highly volatile.@@@@1@6@@oe@2-2-2013
20936042@unknown@formal@none@1@S@The Fed has let interest rates slip slightly, but whether the main reason was dollar intervention, the gloomy reports on manufacturing employment, or the Friday 13 market drop, only Mr. Greenspan and his associates know.@@@@1@35@@oe@2-2-2013
20936043@unknown@formal@none@1@S@Earlier this year, Martin Feldstein, president of the National Bureau of Economic Research, argued forcefully that a government that wants steady, stable exchange rates might try some steady stable economic policies.@@@@1@31@@oe@2-2-2013
20936044@unknown@formal@none@1@S@Trying to manage exchange rates to some desired level, he said, "would mean diverting monetary and fiscal policies from their customary roles and thereby risking excessive inflation and unemployment and inadequate capital formation."@@@@1@33@@oe@2-2-2013
20936045@unknown@formal@none@1@S@The more we think about it, the more we suspect Mr. Brady does indeed have enough power where he already is.@@@@1@21@@oe@2-2-2013
20937001@unknown@formal@none@1@S@This has been a week of stunning events behind what was once called the Iron Curtain and interesting shifts in official American policy toward Moscow.@@@@1@25@@oe@2-2-2013
20937002@unknown@formal@none@1@S@It has also been a week when inside-the-beltway Washington has had a high old time gnawing over ex-President Reagan's multimillion-dollar junket in Japan.@@@@1@23@@oe@2-2-2013
20937003@unknown@formal@none@1@S@The latter may seem oddly irrelevant, if not downright trivial, given the big picture and the way we have handled it in the nation's capital has done nothing to dispel that impression.@@@@1@32@@oe@2-2-2013
20937004@unknown@formal@none@1@S@In fact, however, Mr. Reagan's casual debasement of the office he so recently held raises issues about which Americans can actually do something.@@@@1@23@@oe@2-2-2013
20937005@unknown@formal@none@1@S@Our ability to influence the outcome of events in Eastern Europe and the Soviet Union is far more marginal.@@@@1@19@@oe@2-2-2013
20937006@unknown@formal@none@1@S@Those events continue to move at a rate, and in a direction, which leave informed commentary -- let alone policy -- far in their wake.@@@@1@25@@oe@2-2-2013
20937007@unknown@formal@none@1@S@Earlier this week, Soviet Foreign Minister Eduard A. Shevardnadze confessed that the U.S.S.R. ignored universal human values by invading Afghanistan and, to put it bluntly, "engaged in a violation of the ABM Treaty" by building its radar station at Krasnoyarsk.@@@@1@40@@oe@2-2-2013
20937008@unknown@formal@none@1@S@Hungary is no longer a "Socialist Peoples" republic, the Communist Party no longer has automatic delegates in the U.S.S.R.'s Congress of Peoples Deputies and Egon Krenz was not backed unanimously by his fellow party functionaries when he took over as East Germany's new maximum leader.@@@@1@45@@oe@2-2-2013
20937009@unknown@formal@none@1@S@All of that is just for starters, or so the hundreds of thousands of Eastern Europeans in the streets seem to hope and are certainly demanding.@@@@1@26@@oe@2-2-2013
20937010@unknown@formal@none@1@S@Of like, though lesser, note, Secretary of State James Baker put the administration four-square behind perestroika and glasnost, and therefore behind Mikhail Gorbachev, in a pair of carefully reasoned speeches over the past week or so.@@@@1@36@@oe@2-2-2013
20937011@unknown@formal@none@1@S@And, last but not least, President George Bush now views the changes in Eastern Europe as "absolutely extraordinary" and believes that Mr. Krenz "can't turn the clock back" in East Germany because the change is too inexorable," as he told the New York Times's R.W. Apple Jr.@@@@1@47@@oe@2-2-2013
20937012@unknown@formal@none@1@S@(In other words, after some highly visible dithering and public airing of differences, the administration has come down on the side of those who believe that what we are witnessing from Berlin to Siberia is a good thing to be welcomed, rather than a new thing to be feared or viewed with suspicion.)@@@@1@53@@oe@2-2-2013
20937013@unknown@formal@none@1@S@All of this is what history will note, assuming that events don't make it seem a bad joke, when the record of this time is put down.@@@@1@27@@oe@2-2-2013
20937014@unknown@formal@none@1@S@For journalists, however, who write what they fondly view as history's first draft, this has also been a week to give a lot of space and time to Ron and Nancy's sales appearance in Japan on behalf of a communications giant and its controversial founder.@@@@1@45@@oe@2-2-2013
20937015@unknown@formal@none@1@S@It has been a well-paid transaction, this bartering away of the prestige of the republic's highest office.@@@@1@17@@oe@2-2-2013
20937016@unknown@formal@none@1@S@The Japanese industrialist has coughed up at least $2 million, the Japanese government has put up just about as much, or so it is reported and at least one estimate puts the total tab at $7 million.@@@@1@37@@oe@2-2-2013
20937017@unknown@formal@none@1@S@All of which has enabled those of us in Washington who enjoy wallowing in such things to go into high public dudgeon, as Mr. Apple and I did the other night on ABC's "Nightline."@@@@1@34@@oe@2-2-2013
20937018@unknown@formal@none@1@S@Punching away, we raised what I still think were all the right issues and landed more than one hard blow, but at the end of the affair, there was just the tiniest nagging worry that we had been aiming at the wrong target.@@@@1@43@@oe@2-2-2013
20937019@unknown@formal@none@1@S@As one of his defenders so aptly put it, President Reagan was simply doing what he had always done before his election (and some would say thereafter as well).@@@@1@29@@oe@2-2-2013
20937020@unknown@formal@none@1@S@He was performing for pay, and why should anyone expect anything more?@@@@1@12@@oe@2-2-2013
20937021@unknown@formal@none@1@S@Primarily because there's more to the matter than Ronald Reagan's personal values, or lack of them.@@@@1@16@@oe@2-2-2013
20937022@unknown@formal@none@1@S@Selling the presidency for a mess of pottage is not so much a devaluation from the norm of public life today as it is a reflection of the disintegration of public standards.@@@@1@32@@oe@2-2-2013
20937023@unknown@formal@none@1@S@The theme song for the 1980s has been, "Anything Goes," and it has been whistled with gusto from Wall Street to some of the highest peaks of televangelism.@@@@1@28@@oe@2-2-2013
20937024@unknown@formal@none@1@S@There are those who say that this is nothing new, that America has always suffered from a bad case of schizophrenia when it comes to the dichotomy between what is professed and what is practiced.@@@@1@35@@oe@2-2-2013
20937025@unknown@formal@none@1@S@There is evidence to support that view.@@@@1@7@@oe@2-2-2013
20937026@unknown@formal@none@1@S@Eighty-three years ago, William James wrote to H.G. Wells: "The moral flabbiness born of the exclusive worship of the bitch goddess success . . . that, with the squalid cash interpretation put on the word success, is our national disease."@@@@1@40@@oe@2-2-2013
20937027@unknown@formal@none@1@S@But if it was the national disease in 1906, it is today the national commonplace.@@@@1@15@@oe@2-2-2013
20937028@unknown@formal@none@1@S@If there is no law against it, do it.@@@@1@9@@oe@2-2-2013
20937029@unknown@formal@none@1@S@If the law leaves loopholes, use them.@@@@1@7@@oe@2-2-2013
20937030@unknown@formal@none@1@S@If there is no moral prohibition that expressly forbids it, full speed ahead.@@@@1@13@@oe@2-2-2013
20937031@unknown@formal@none@1@S@And if you are caught or if people complain, simply argue that "everyone does it" or "no one said I shouldn't " and brazen it out.@@@@1@26@@oe@2-2-2013
20937032@unknown@formal@none@1@S@As a last recourse, when all else has failed and you are pinned, apologize for having disappointed those who trusted you but deny having actually done anything wrong.@@@@1@28@@oe@2-2-2013
20937033@unknown@formal@none@1@S@(See, for instance, Jim Bakker's remarks upon being sentenced to prison this Tuesday for defrauding the faithful.)@@@@1@17@@oe@2-2-2013
20937034@unknown@formal@none@1@S@Consider the troubling dissonance between Mr. Shevardnadze's speech of confession this week and the hang-tough defense of everyone concerned with the Iran-Contra affair.@@@@1@23@@oe@2-2-2013
20937035@unknown@formal@none@1@S@The Soviet foreign minister publicly concedes that his government "violated norms of behavior" in Afghanistan and just plain lied about the radar station.@@@@1@23@@oe@2-2-2013
20937036@unknown@formal@none@1@S@We have people in high place still lying through their teeth about Iran-Contra, and that apparently isn't going to change.@@@@1@20@@oe@2-2-2013
20937037@unknown@formal@none@1@S@For that matter, those long ago identified as liars are still given respectful hearings in the press.@@@@1@17@@oe@2-2-2013
20937038@unknown@formal@none@1@S@That is the key to the current "national disease."@@@@1@9@@oe@2-2-2013
20937039@unknown@formal@none@1@S@No one seems willing to hold anyone in public life to a standard higher than the narrowest construction of the law.@@@@1@21@@oe@2-2-2013
20937040@unknown@formal@none@1@S@The occasional media witch hunt about some politician's private peccadilloes notwithstanding, the general inclination is to offer a version of the old refrain, "Who am I to judge?"@@@@1@28@@oe@2-2-2013
20937041@unknown@formal@none@1@S@Thus, no standards, no judgment and no values.@@@@1@8@@oe@2-2-2013
20937042@unknown@formal@none@1@S@"You are mad because he's making so much money," say President Reagan's defenders.@@@@1@13@@oe@2-2-2013
20937043@unknown@formal@none@1@S@No, we ought to be mad because he has demeaned the office we gave him, enlisting it in the service of private gain, just as we ought to be mad that public officials lie through their teeth, play disingenuous games about their activities or, to steal a phrase, make public service a private trough.@@@@1@54@@oe@2-2-2013
20937044@unknown@formal@none@1@S@"I'm not going to be stampeded into overreacting to any of this, President Bush told Mr. Apple in this week's interview.@@@@1@21@@oe@2-2-2013
20937045@unknown@formal@none@1@S@He was referring to the "absolutely extraordinary" events in Eastern Europe, and it is a defensible position.@@@@1@17@@oe@2-2-2013
20937046@unknown@formal@none@1@S@But there is no defense at all for the ethos of the 1980s.@@@@1@13@@oe@2-2-2013
20937047@unknown@formal@none@1@S@We didn't stampede into it, we slithered and slipped down the long slope, and now we have as its quintessential symbol a former president huckstering for a foreign poohbah.@@@@1@29@@oe@2-2-2013
20937048@unknown@formal@none@1@S@Or perhaps that is a fitting symbol for the United States of 1989: Everything for sale; nothing of real value.@@@@1@20@@oe@2-2-2013
20937049@unknown@formal@none@1@S@Mr. Carter is a political commentator who heads a television production firm.@@@@1@12@@oe@2-2-2013
20938001@unknown@formal@none@1@S@Cineplex Odeon Corp. directors said the company's chairman and chief executive, Garth Drabinsky, is considering bidding 780.6 million Canadian dollars (US$666 million) to acquire the company.@@@@1@26@@oe@2-2-2013
20938002@unknown@formal@none@1@S@The board said Mr. Drabinsky and Vice Chairman Myron Gottlieb are negotiating financing before offering C$16.40 a share to acquire all of Cineplex's shares outstanding.@@@@1@25@@oe@2-2-2013
20938003@unknown@formal@none@1@S@The directors added that the two executives haven't reached a final decision to proceed with a bid and that until an offer is made the board will continue seeking higher offers from other bidders.@@@@1@34@@oe@2-2-2013
20938004@unknown@formal@none@1@S@The directors said if Messrs. Drabinsky and Gottlieb mail an offer to shareholders by Nov. 22, it will reimburse them a maximum of C$8.5 million for expenses related to a bid.@@@@1@31@@oe@2-2-2013
20938005@unknown@formal@none@1@S@"We consider that his bid is an acceptable bid," said Sandra Kolber, spokeswoman for the independent directors' committee appointed last May to solicit and review bids for the company in the wake of a dispute between Mr. Drabinsky and Cineplex's major shareholder, MCA Inc.@@@@1@44@@oe@2-2-2013
20938006@unknown@formal@none@1@S@MCA and Cineplex's other major shareholder, Montreal-based financier Charles Bronfman and his associates, have agreed to tender their holdings to an offer by Mr. Drabinsky unless a higher offer is made by another bidder.@@@@1@34@@oe@2-2-2013
20938007@unknown@formal@none@1@S@MCA holds half of Cineplex's equity and 33% of its voting rights through restricted voting shares, while Bronfman interests hold about 24% of the company's equity.@@@@1@26@@oe@2-2-2013
20938008@unknown@formal@none@1@S@Ms. Kolber said the committee had received other bids.@@@@1@9@@oe@2-2-2013
20938009@unknown@formal@none@1@S@She declined to identify other bidders but said Mr. Drabinsky's offer "is all cash, and it's for all of the company."@@@@1@21@@oe@2-2-2013
20938010@unknown@formal@none@1@S@Several Cineplex analysts have speculated that outside bids received by the committee were either disappointingly low or for only part of the company.@@@@1@23@@oe@2-2-2013
20938011@unknown@formal@none@1@S@"All this has really established is that MCA and the Bronfmans have agreed on a price at which they can be bought out," said Jeffery Logsdon, an analyst with Crowell, Weedon in Los Angeles.@@@@1@34@@oe@2-2-2013
20938012@unknown@formal@none@1@S@"If a bid materializes at that price, shareholders will have every reason to be glad, but the question of financing still remains."@@@@1@22@@oe@2-2-2013
20938013@unknown@formal@none@1@S@Last April, Mr. Drabinsky and a group of financial backers planned to acquire up to 30.2% of Cineplex for C$17.50 a share from Bronfman associates.@@@@1@25@@oe@2-2-2013
20938014@unknown@formal@none@1@S@Mr. Drabinsky, who would have had the right to vote those shares for two years, said the purchase, subsequently rejected by regulators, was aimed at consolidating his control of the company.@@@@1@31@@oe@2-2-2013
20938015@unknown@formal@none@1@S@MCA strongly opposed the Drabinsky group's move.@@@@1@7@@oe@2-2-2013
20938016@unknown@formal@none@1@S@The directors didn't indicate the source of financing for Mr. Drabinsky's new proposal, but said MCA and the Bronfman associates agreed in principle to buy for $57 million and then lease back to Cineplex its 18-screen theater complex in Universal City, Calif., if Mr. Drabinsky succeeds in an offer.@@@@1@49@@oe@2-2-2013
20938017@unknown@formal@none@1@S@"This is being done at the suggestion of {Mr. Drabinsky} and to accommodate him, to facilitate his financing arrangements," Ms. Kolber said.@@@@1@22@@oe@2-2-2013
20938018@unknown@formal@none@1@S@In addition, the directors said if a bid by Mr. Drabinsky is successful, Cineplex expects Rank Organisation PLC to acquire the 51% of Cineplex's Film House unit it doesn't own, and provide Mr. Drabinsky with additional loan financing.@@@@1@38@@oe@2-2-2013
20938019@unknown@formal@none@1@S@Michael Gifford, Rank's chief executive, said the British theater chain's total involvement "wouldn't exceed $100 million" but declined to give a breakdown between the loan financing and the proposed Film House purchase.@@@@1@32@@oe@2-2-2013
20938020@unknown@formal@none@1@S@Cineplex shareholders responded coolly to yesterday's announcement.@@@@1@7@@oe@2-2-2013
20938021@unknown@formal@none@1@S@In trading on the New York Stock Exchange, Cineplex closed at $11, down 25 cents, with more than a million shares changing hands.@@@@1@23@@oe@2-2-2013
20938022@unknown@formal@none@1@S@On the Toronto Stock Exchange, Cineplex closed at C$12.875, off 37.5 Canadian cents, well below the C$16.40 level.@@@@1@18@@oe@2-2-2013
20938023@unknown@formal@none@1@S@"Where's the bid?" asked Pierre Panet-Raymond, an analyst and broker with Toronto securities dealer McDermid St. Lawrence Ltd.@@@@1@18@@oe@2-2-2013
20938024@unknown@formal@none@1@S@Mr. Panet-Raymond said he doesn't think Messrs. Drabinsky and Gottlieb are "anywhere close" to arranging financing and that investors will need a solid offer before the stock begins to rise again.@@@@1@31@@oe@2-2-2013
20938025@unknown@formal@none@1@S@Mr. Drabinsky couldn't be reached for comment.@@@@1@7@@oe@2-2-2013
20939001@unknown@formal@none@1@S@Two West German chemical companies announced steps that apparently are designed to boost the chemical industry's standing among environmental groups and the general public.@@@@1@24@@oe@2-2-2013
20939002@unknown@formal@none@1@S@Hoechst AG's Chairman Wolfgang Hilger said the company wants to have a substitute product to completely replace ozone-damaging chlorofluorocarbons by 1995.@@@@1@21@@oe@2-2-2013
20939003@unknown@formal@none@1@S@In April, Hoechst, the largest producer of CFCs in West Germany, said it wanted to reduce production of the product by 50% by 1993.@@@@1@24@@oe@2-2-2013
20939004@unknown@formal@none@1@S@Mr. Hilger said Hoechst will invest 50 million marks ($27.2 million) in a plant to make a substitute product it has developed that it says is unchlorinated.@@@@1@27@@oe@2-2-2013
20939005@unknown@formal@none@1@S@The company hopes the new plant, likely to be built in Frankfurt, will be able to produce 10,000 tons a year.@@@@1@21@@oe@2-2-2013
20939006@unknown@formal@none@1@S@This year, Hoechst will produce about 62,000 tons of CFCs in factories in Frankfurt, Spain and Brazil.@@@@1@17@@oe@2-2-2013
20939007@unknown@formal@none@1@S@Of Hoechst's 40.9 billion marks in group sales in 1988, 200 million marks came from sales of CFCs.@@@@1@18@@oe@2-2-2013
20939008@unknown@formal@none@1@S@Also, BASF AG, another large chemicals company, said it formed a separate division that will study the environmental impact of plastics and will investigate all possibilities of recycling plastics.@@@@1@29@@oe@2-2-2013
20940001@unknown@formal@none@1@S@George L. Manzanec, 53 years old, senior vice president of Texas Eastern Corp., was elected a group vice president of this natural-gas-pipeline concern.@@@@1@23@@oe@2-2-2013
20940002@unknown@formal@none@1@S@Mr. Manzanec, who succeeds retiring Richard C. Dixon, will be responsible for gas supply, regulatory affairs, and marketing and transportation and exchange for Panhandle Eastern Pipe Line Co., Trunkline Gas Co., Texas Eastern Transmission Corp. and Algonquin Gas Transmission Co.@@@@1@40@@oe@2-2-2013
20940003@unknown@formal@none@1@S@All of the companies are units of Panhandle Eastern Corp., which acquired Texas Eastern Corp. earlier this year.@@@@1@18@@oe@2-2-2013
20941001@unknown@formal@none@1@S@Adolph Coors Co. said its Coors Brewing Co. unit will test market a new line of bottled water in the West beginning early next year.@@@@1@25@@oe@2-2-2013
20941002@unknown@formal@none@1@S@The move, which was expected, marks the first time since Prohibition that Coors has sold a non-alcoholic beverage, and marks the company's entry into a crowded, but fast-growing market that generated about $2.2 billion in sales last year.@@@@1@38@@oe@2-2-2013
20941003@unknown@formal@none@1@S@Coors is hoping to become one of the first companies to distribute bottled water nationwide.@@@@1@15@@oe@2-2-2013
20941004@unknown@formal@none@1@S@Perrier, sold by Perrier Group of America, a unit of Source Perrier S.A. of Paris, and Evian, sold by a U.S. unit BSN of France, are distributed to urban areas nationally, but are less available in rural communities.@@@@1@38@@oe@2-2-2013
20941005@unknown@formal@none@1@S@Coors, with its large beer-distribution network, could penetrate more markets.@@@@1@10@@oe@2-2-2013
20941006@unknown@formal@none@1@S@The company said the water will be called Coors Rocky Mountain Sparkling Water and will come from the same mountain spring as water used in Coors beer.@@@@1@27@@oe@2-2-2013
20941007@unknown@formal@none@1@S@The company said it will sell the water plain and with lemon-lime and cherry flavors and will package it in 28-ounce bottles and 6.5 ounce bottles as part of six-packs.@@@@1@30@@oe@2-2-2013
20941008@unknown@formal@none@1@S@The test markets, though not specified, will be in northern California, Arizona and Colorado, some of the hottest bottled-water markets.@@@@1@20@@oe@2-2-2013
20942001@unknown@formal@none@1@S@Some of America's biggest trading partners gave a quick thumbs-down to a U.S. proposal to liberalize world trade and reduce farm-product subsidies.@@@@1@22@@oe@2-2-2013
20942002@unknown@formal@none@1@S@In Geneva, where world trade talks are being held under the General Agreement on Tariffs and Trade, or GATT, the European Community called the U.S. proposal "a step backward."@@@@1@29@@oe@2-2-2013
20942003@unknown@formal@none@1@S@And Japan's minister of agriculture, forestry and fisheries told a committee of Japan's parliament that Washington's proposal was impractical and that Tokyo would continue to heavily subsidize its rice farmers.@@@@1@30@@oe@2-2-2013
20942004@unknown@formal@none@1@S@The U.S., in a far-reaching plan submitted to the Geneva meeting Tuesday, proposed curbing price support subsidies within 10 years and eliminating export subsidies within five years.@@@@1@27@@oe@2-2-2013
20942005@unknown@formal@none@1@S@U.S. officials said the plan was flexible, and was intended as a pragmatic approach for gradually removing trade-distorting subsidies.@@@@1@19@@oe@2-2-2013
20942006@unknown@formal@none@1@S@But the EC reacted defiantly, arguing that the proposal's main aim is to destroy the Common Agricultural Policy, the EC's $28 billion-a-year price support program.@@@@1@25@@oe@2-2-2013
20942007@unknown@formal@none@1@S@"The American proposal is not an adequate basis for negotiation," the EC said in a statement.@@@@1@16@@oe@2-2-2013
20942008@unknown@formal@none@1@S@EC officials say they are irked that the U.S. has set a specific timetable and is insisting on the "elimination" of export subsides, not just reduction.@@@@1@26@@oe@2-2-2013
20942009@unknown@formal@none@1@S@EC Agriculture Commissioner Ray MacSharry said the U.S. plan "calls into question" the agreement reached by world negotiators last April in Geneva seeking "substantial progressive reductions in agricultural support and protection."@@@@1@31@@oe@2-2-2013
20942010@unknown@formal@none@1@S@U.S. Deputy Trade Representative Jules Katz replied that the proposal was entirely consistent with the April accord.@@@@1@17@@oe@2-2-2013
20942011@unknown@formal@none@1@S@He said he was surprised by the EC's reaction, calling it "vehement, even frenetic."@@@@1@14@@oe@2-2-2013
20942012@unknown@formal@none@1@S@The U.S. proposal also was criticized by food-importing developing countries, who said that the U.S. made no special allowances for poor nations.@@@@1@22@@oe@2-2-2013
20942013@unknown@formal@none@1@S@While many experts argue that food-importing nations would eventually become self-sufficient in a free-market system, the poorest nations are likely to need help in the meantime.@@@@1@26@@oe@2-2-2013
20942014@unknown@formal@none@1@S@Ambassador Katz said the U.S. was open to discussing particular problems of developing countries.@@@@1@14@@oe@2-2-2013
20942015@unknown@formal@none@1@S@The U.S. administration said its plan would allow considerable flexibility in determining how and when the free-trade goals would be achieved.@@@@1@21@@oe@2-2-2013
20942016@unknown@formal@none@1@S@The U.S. argues that its plan would ease the transition to freer agriculture trade by converting certain non-tariff barriers into tariffs that, together with existing tariffs, then would be phased out over 10 years.@@@@1@34@@oe@2-2-2013
20942017@unknown@formal@none@1@S@But the EC is strongly opposed to converting agricultural supports into tariffs.@@@@1@12@@oe@2-2-2013
20942018@unknown@formal@none@1@S@The new U.S. package also says countries could temporarily raise tariffs on certain products if they experience an unusually heavy volume of imports.@@@@1@23@@oe@2-2-2013
20942019@unknown@formal@none@1@S@It would establish procedures to prevent countries from using health and sanitation rules to impede trade arbitrarily.@@@@1@17@@oe@2-2-2013
20942020@unknown@formal@none@1@S@Seeking to allay European concerns, U.S. Agriculture Secretary Clayton Yeutter said in Washington that the new U.S. plan wouldn't "put farmers out of business" but would encourage them to "grow what the markets desire instead of what the government wants."@@@@1@40@@oe@2-2-2013
20942021@unknown@formal@none@1@S@The EC, with a population of 320 million, has 8.5 million farmers, while the U.S., with a population of about 245 million, has only two million farmers.@@@@1@27@@oe@2-2-2013
20942022@unknown@formal@none@1@S@Japan's objections to the U.S. plan center around its desire to stay self-sufficient in rice, a staple food, even though foreign producers are far more efficient.@@@@1@26@@oe@2-2-2013
20943001@unknown@formal@none@1@S@Bell Atlantic Corp. said it agreed definitively to acquire one of Control Data Corp.'s computer-maintenance businesses.@@@@1@16@@oe@2-2-2013
20943002@unknown@formal@none@1@S@Terms of the accord weren't disclosed.@@@@1@6@@oe@2-2-2013
20943003@unknown@formal@none@1@S@Control Data's third-party maintenance unit services products primarily made by Digital Equipment Corp. and International Business Machines Corp.@@@@1@18@@oe@2-2-2013
20943004@unknown@formal@none@1@S@The unit has 6,000 customers and, according to one analyst, had 1988 revenue of about $85 million.@@@@1@17@@oe@2-2-2013
20943005@unknown@formal@none@1@S@Under the agreement, which had been widely expected, Bell Atlantic would be buying Control Data's customer base and its approximately 100 U.S. maintenance facilities in about 33 cities.@@@@1@28@@oe@2-2-2013
20943006@unknown@formal@none@1@S@However, Control Data would continue to provide maintenance services for customers of its Cyber product line.@@@@1@16@@oe@2-2-2013
20943007@unknown@formal@none@1@S@The unit represents a small portion of Minneapolis-based Control Data's overall computer-servicing business, which last year posted sales of about $400 million.@@@@1@22@@oe@2-2-2013
20943008@unknown@formal@none@1@S@Earlier this year, the company sold a similar unit in Europe for about $25 million.@@@@1@15@@oe@2-2-2013
20943009@unknown@formal@none@1@S@Lawrence Perlman, Control Data's president and chief operating officer, said the maintenance business no longer fits into the company's "strategy to be a data solutions company."@@@@1@26@@oe@2-2-2013
20943010@unknown@formal@none@1@S@Thomas Vassiliades, president of Bell Atlantic's customer services division, said the acquisition would give the company's Sorbus computer-maintenance unit added expertise in "the increasingly sophisticated workstation and high-end mainframe technologies.@@@@1@30@@oe@2-2-2013
20944001@unknown@formal@none@1@S@Two recent decisions by federal courts cast judges in the odd role of telling authors how they should write history and biography.@@@@1@22@@oe@2-2-2013
20944002@unknown@formal@none@1@S@These decisions deserve more attention than they have received from scholars, and from journalists as well.@@@@1@16@@oe@2-2-2013
20944003@unknown@formal@none@1@S@Russell Miller's "Bare-Faced Messiah: The True Story of L. Ron Hubbard" is a biography of the founder of the Church of Scientology.@@@@1@22@@oe@2-2-2013
20944004@unknown@formal@none@1@S@Mr. Hubbard, who died in 1986, bequeathed the copyrights on his writings to his church, which licensed them to New Era Publications, a Danish corporation.@@@@1@25@@oe@2-2-2013
20944005@unknown@formal@none@1@S@In 1988 New Era sought a permanent injunction to restrain Henry Holt & Co. from publishing "Bare-Faced Messiah" on the ground that Mr. Miller's quotations from Mr. Hubbard infringed the copyrights.@@@@1@31@@oe@2-2-2013
20944006@unknown@formal@none@1@S@The publisher argued in response that the "fair use" statute permits quotation "for purposes such as criticism, comment, news reporting, teaching, . . . scholarship, or research."@@@@1@27@@oe@2-2-2013
20944007@unknown@formal@none@1@S@District Court Judge Pierre Leval denied the injunction on the ground that New Era had failed to make its claim within a reasonable time -- the doctrine lawyers call "laches."@@@@1@30@@oe@2-2-2013
20944008@unknown@formal@none@1@S@As for the merits, Judge Leval said that Mr. Miller had written "a serious book of responsible historical criticism."@@@@1@19@@oe@2-2-2013
20944009@unknown@formal@none@1@S@Verbatim quotation, the judge believed, was justified in order to prove points the author had asserted about Mr. Hubbard -- mendacity, bigotry, paranoia and other unlovely traits that could not be persuasively demonstrated without use of Mr. Hubbard's own words.@@@@1@40@@oe@2-2-2013
20944010@unknown@formal@none@1@S@"The biographer/critic," Judge Leval wrote, "should not be required simply to express . . . conclusions without defending them by example.@@@@1@21@@oe@2-2-2013
20944011@unknown@formal@none@1@S@" In such circumstances, free-speech interests outweighed the interests of the copyright owner.@@@@1@13@@oe@2-2-2013
20944012@unknown@formal@none@1@S@But Judge Leval felt constrained by an earlier decision of the Second Circuit Court forbidding a biographer of J.D. Salinger to quote from Mr. Salinger's personal letters.@@@@1@27@@oe@2-2-2013
20944013@unknown@formal@none@1@S@He distinguished the two cases: In Salinger, Judge Leval noted, the quotations were for the purpose of enlivening the biography rather than of proving points about the subject.@@@@1@28@@oe@2-2-2013
20944014@unknown@formal@none@1@S@Still the Salinger decision created a strong presumption against fair use of unpublished materials.@@@@1@14@@oe@2-2-2013
20944015@unknown@formal@none@1@S@Judge Leval reluctantly concluded that a few of Mr. Miller's quotations from Mr. Hubbard's unpublished writings, because they were not necessary to prove historical points, failed the fair-use test and therefore infringed copyright.@@@@1@33@@oe@2-2-2013
20944016@unknown@formal@none@1@S@But the proper remedy, Judge Leval said, lay in a suit for damages, not in an injunction.@@@@1@17@@oe@2-2-2013
20944017@unknown@formal@none@1@S@The case went on appeal to the Second Circuit.@@@@1@9@@oe@2-2-2013
20944018@unknown@formal@none@1@S@In a decision in April of this year, Judge Roger Miner, joined by Judge Frank Altimari, agreed on denying the injunction and did not doubt that "Bare-Faced Messiah" was a serious work but rejected Judge Leval's argument that the public interest in scholarship could outweigh the sanctity of copyright.@@@@1@49@@oe@2-2-2013
20944019@unknown@formal@none@1@S@"We conclude," the two judges wrote, "that laches is the sole bar to the issuance of an injunction."@@@@1@18@@oe@2-2-2013
20944020@unknown@formal@none@1@S@Had the suit been filed in time, they said, "Bare-Faced Messiah" would have been suppressed.@@@@1@15@@oe@2-2-2013
20944021@unknown@formal@none@1@S@This was too much for James Oakes, the court's chief judge.@@@@1@11@@oe@2-2-2013
20944022@unknown@formal@none@1@S@In a powerful separate opinion, Judge Oakes further distinguished the Salinger case by pointing out that a living person, like Mr. Salinger, had privacy rights that did not apply to a dead man, like Mr. Hubbard.@@@@1@36@@oe@2-2-2013
20944023@unknown@formal@none@1@S@"I thought that Salinger might by being taken in another factual context come back to haunt us.@@@@1@17@@oe@2-2-2013
20944024@unknown@formal@none@1@S@This case realizes that concern."@@@@1@5@@oe@2-2-2013
20944025@unknown@formal@none@1@S@Decisions by the Second Circuit itself, Judge Oakes continued, had recognized that public interest in the subject matter and the indispensability in particular cases of verbatim quotations are vital components of fair use.@@@@1@33@@oe@2-2-2013
20944026@unknown@formal@none@1@S@And the injunction Judges Miner and Altimari would so readily have granted had New Era sued in time?@@@@1@18@@oe@2-2-2013
20944027@unknown@formal@none@1@S@Suppression of the book, Judge Oakes observed, would operate as a prior restraint and thus involve the First Amendment.@@@@1@19@@oe@2-2-2013
20944028@unknown@formal@none@1@S@Moreover, and here Judge Oakes went to the heart of the question, "Responsible biographers and historians constantly use primary sources, letters, diaries, and memoranda.@@@@1@24@@oe@2-2-2013
20944029@unknown@formal@none@1@S@Indeed, it would be irresponsible to ignore such sources of information."@@@@1@11@@oe@2-2-2013
20944030@unknown@formal@none@1@S@Now, scholars in fulfilling their responsibility do not claim the right to invade every collection of papers that bears upon their topics of investigation.@@@@1@24@@oe@2-2-2013
20944031@unknown@formal@none@1@S@And of course they agree that people can impose restrictions on the use of their papers, whether in their own possession or as donated or sold to libraries.@@@@1@28@@oe@2-2-2013
20944032@unknown@formal@none@1@S@But in the "Bare-Faced Messiah" case the author found most of his material in court records or via the Freedom of Information Act.@@@@1@23@@oe@2-2-2013
20944033@unknown@formal@none@1@S@And when responsible scholars gain legitimate access to unpublished materials, copyright should not be permitted to deny them use of quotations that help to establish historical points.@@@@1@27@@oe@2-2-2013
20944034@unknown@formal@none@1@S@Judges Oakes and Leval understand the requirements of historical scholarship.@@@@1@10@@oe@2-2-2013
20944035@unknown@formal@none@1@S@Judges Miner and Altimari do not appear to have a clue.@@@@1@11@@oe@2-2-2013
20944036@unknown@formal@none@1@S@Yet at the moment they are the judges who are making the law.@@@@1@13@@oe@2-2-2013
20944037@unknown@formal@none@1@S@As matters stand, the Salinger ruling, torn from context and broadly construed, is controlling.@@@@1@14@@oe@2-2-2013
20944038@unknown@formal@none@1@S@If an author quotes "more than minimal amounts" of unpublished copyrighted materials, as the Salinger decision had it, "he deserves to be enjoined."@@@@1@23@@oe@2-2-2013
20944039@unknown@formal@none@1@S@The courts have not defined "minimal amounts," but publishers, I understand, take it to mean about 50 words.@@@@1@18@@oe@2-2-2013
20944040@unknown@formal@none@1@S@The "Bare-Faced Messiah" decision strikes a blow against the whole historical enterprise.@@@@1@12@@oe@2-2-2013
20944041@unknown@formal@none@1@S@A second decision, handed down in August by the Court of Appeals for the Ninth Circuit, is another blow against scholarship.@@@@1@21@@oe@2-2-2013
20944042@unknown@formal@none@1@S@Janet Malcolm, a professional writer on psychiatric matters, wrote a series of articles for the New Yorker, later published in book form by Knopf under the title "In the Freud Archives."@@@@1@31@@oe@2-2-2013
20944043@unknown@formal@none@1@S@The articles were largely based on interviews Ms. Malcolm had taped with Jeffrey Masson, a psychoanalyst who had served as projects director of the Freud Archives.@@@@1@26@@oe@2-2-2013
20944044@unknown@formal@none@1@S@Mr. Masson then brought a libel suit against Ms. Malcolm, the New Yorker and Knopf.@@@@1@15@@oe@2-2-2013
20944045@unknown@formal@none@1@S@As a public figure, Mr. Masson had to prove malice and, as proof of malice, Mr. Masson contended that defamatory quotations ascribed to him by Ms. Malcolm were in fact fabricated.@@@@1@31@@oe@2-2-2013
20944046@unknown@formal@none@1@S@The quotes could not be found on the tapes, and the two judges who decided the case for Ms. Malcolm and her publishers conceded that, for the purpose of their decision, "we assume the quotations were deliberately altered."@@@@1@38@@oe@2-2-2013
20944047@unknown@formal@none@1@S@For all historians and most journalists, this admission would have been sufficient to condemn the Malcolm articles.@@@@1@17@@oe@2-2-2013
20944048@unknown@formal@none@1@S@But Judge Arthur Alarcon, joined by Judge Cynthia Holcomb Hall, took the astonishing position that it is perfectly OK to fabricate quotations so long as a judge finds that the fabrications do not alter substantive content or are rational interpretations of ambiguous remarks.@@@@1@43@@oe@2-2-2013
20944049@unknown@formal@none@1@S@In his eloquent dissent, Judge Alex Kozinski observed that when a writer uses quotation marks in reporting what someone has said, the reader assumes that these are the speaker's precise words or at least his words purged of "uh" and "you know" and grammatical error.@@@@1@45@@oe@2-2-2013
20944050@unknown@formal@none@1@S@While judges have an obligation under the First Amendment to safeguard freedom of the press, "the right to deliberately alter quotations is not, in my view, a concomitant of a free press."@@@@1@32@@oe@2-2-2013
20944051@unknown@formal@none@1@S@Ms. Malcolm, for example, wrote that Mr. Masson described himself as "the greatest analyst who ever lived."@@@@1@17@@oe@2-2-2013
20944052@unknown@formal@none@1@S@No such statement appears on the tapes.@@@@1@7@@oe@2-2-2013
20944053@unknown@formal@none@1@S@The majority cited Mr. Masson's remark "It's me alone . . . against the rest of the analytic world" as warrant for the Malcolm fabrication.@@@@1@25@@oe@2-2-2013
20944054@unknown@formal@none@1@S@But, as Judge Kozinski noted, the context shows that Mr. Masson's "me alone" remark referred not to his alleged pre-eminence in his profession but to the fact that his position on a particular issue was not shared by anyone else.@@@@1@40@@oe@2-2-2013
20944055@unknown@formal@none@1@S@Ms. Malcolm had Mr. Masson describing himself as "an intellectual gigolo."@@@@1@11@@oe@2-2-2013
20944056@unknown@formal@none@1@S@Again, no such statement appears on the tapes.@@@@1@8@@oe@2-2-2013
20944057@unknown@formal@none@1@S@The majority decision contended that the phrase was a rational interpretation of Mr. Masson's description of himself as a "private asset but a public liability" to Anna Freud and that in any case it was not defamatory.@@@@1@37@@oe@2-2-2013
20944058@unknown@formal@none@1@S@Judge Kozinski found the derivation entirely strained and writes that "for an academic to refer to himself as an intellectual gigolo is . . . a devastating admission of professional dishonesty."@@@@1@31@@oe@2-2-2013
20944059@unknown@formal@none@1@S@These were only two of a series of fabrications that had, in Judge Kozinski's words, the cumulative effect of making Mr. Masson "appear more arrogant, less sensitive, shallower, more self-aggrandizing, and less in touch with reality than he appears from his own statements."@@@@1@43@@oe@2-2-2013
20944060@unknown@formal@none@1@S@As Robert Coles wrote in a review of Ms. Malcolm's book, Mr. Masson emerges "as a grandiose egotist . . . and, in the end, a self-destructive fool.@@@@1@28@@oe@2-2-2013
20944061@unknown@formal@none@1@S@But it is not Janet Malcolm who calls him such: his own words reveal this psychological profile."@@@@1@17@@oe@2-2-2013
20944062@unknown@formal@none@1@S@We now know that the words were not always his own.@@@@1@11@@oe@2-2-2013
20944063@unknown@formal@none@1@S@"There is one sacred rule of journalism," John Hersey has said.@@@@1@11@@oe@2-2-2013
20944064@unknown@formal@none@1@S@"The writer must not invent."@@@@1@5@@oe@2-2-2013
20944065@unknown@formal@none@1@S@Should the green light Judges Alarcon and Hall have given to the fabrication of quotations become standard practice, it will notably reduce the value of journalism for historians -- and for citizens.@@@@1@32@@oe@2-2-2013
20944066@unknown@formal@none@1@S@As Judge Kozinski put it: "To invoke the right to deliberately distort what someone else has said is to assert the right to lie in print. . . .@@@@1@29@@oe@2-2-2013
20944067@unknown@formal@none@1@S@Masson has lost his case, but the defendants, and the profession to which they belong, have lost far more."@@@@1@19@@oe@2-2-2013
20944068@unknown@formal@none@1@S@The historical profession will survive these decisions.@@@@1@7@@oe@2-2-2013
20944069@unknown@formal@none@1@S@Perhaps in time the Supreme Court will correct them.@@@@1@9@@oe@2-2-2013
20944070@unknown@formal@none@1@S@But writing history is tough enough without judges gratuitously throwing obstacles in the scholar's path.@@@@1@15@@oe@2-2-2013
20944071@unknown@formal@none@1@S@Mr. Schlesinger is Albert Schweitzer professor of the humanities at the City University of New York and a winner of Pulitzer Prizes in history and biography.@@@@1@26@@oe@2-2-2013
20945001@unknown@formal@none@1@S@Hale Milgrim, 41 years old, senior vice president, marketing at Elecktra Entertainment Inc., was named president of Capitol Records Inc., a unit of this entertainment concern.@@@@1@26@@oe@2-2-2013
20945002@unknown@formal@none@1@S@Mr. Milgrim succeeds David Berman, who resigned last month.@@@@1@9@@oe@2-2-2013
20946001@unknown@formal@none@1@S@Legal controversies in America have a way of assuming a symbolic significance far exceeding what is involved in the particular case.@@@@1@21@@oe@2-2-2013
20946002@unknown@formal@none@1@S@They speak volumes about the state of our society at a given moment.@@@@1@13@@oe@2-2-2013
20946003@unknown@formal@none@1@S@It has always been so.@@@@1@5@@oe@2-2-2013
20946004@unknown@formal@none@1@S@In the 1920s, a young schoolteacher, John T. Scopes, volunteered to be a guinea pig in a test case sponsored by the American Civil Liberties Union to challenge a ban on the teaching of evolution imposed by the Tennessee Legislature.@@@@1@40@@oe@2-2-2013
20946005@unknown@formal@none@1@S@The result was a world-famous trial exposing profound cultural conflicts in American life between the "smart set," whose spokesman was H.L. Mencken, and the religious fundamentalists, whom Mencken derided as benighted primitives.@@@@1@32@@oe@2-2-2013
20946006@unknown@formal@none@1@S@Few now recall the actual outcome: Scopes was convicted and fined $100, and his conviction was reversed on appeal because the fine was excessive under Tennessee law.@@@@1@27@@oe@2-2-2013
20946007@unknown@formal@none@1@S@So it was with the Hiss case a generation later, when Alger Hiss became a lightning rod for the anxieties of the Cold War and conflicting attitudes toward the New Deal he had served.@@@@1@34@@oe@2-2-2013
20946008@unknown@formal@none@1@S@His trials aroused public passions out of all proportion to the rather banal secrets he allegedly had passed to Soviet intelligence.@@@@1@21@@oe@2-2-2013
20946009@unknown@formal@none@1@S@And so it seems to be with the case of Elizabeth Morgan, the Washington, D.C., plastic surgeon jailed in a child custody case for refusing to reveal the whereabouts of her daughter.@@@@1@32@@oe@2-2-2013
20946010@unknown@formal@none@1@S@Dr. Morgan has just emerged from the D.C. jail after more than two years' confinement for contempt of court, a heroine to her many supporters.@@@@1@25@@oe@2-2-2013
20946011@unknown@formal@none@1@S@To the rest of us, the case is a puzzle.@@@@1@10@@oe@2-2-2013
20946012@unknown@formal@none@1@S@It is what lawyers call "fact intensive."@@@@1@7@@oe@2-2-2013
20946013@unknown@formal@none@1@S@It presents no great issue of legal principle, no overriding question of family law or the law of contempt.@@@@1@19@@oe@2-2-2013
20946014@unknown@formal@none@1@S@Instead, it turns on the disputed and elusive facts of "who did what to whom."@@@@1@15@@oe@2-2-2013
20946015@unknown@formal@none@1@S@It is difficult, if not impossible, for anyone who has not pored over the thousands of pages of court pleadings and transcripts to have a worthwhile opinion on the underlying merits of the controversy.@@@@1@34@@oe@2-2-2013
20946016@unknown@formal@none@1@S@Certainly I do not.@@@@1@4@@oe@2-2-2013
20946017@unknown@formal@none@1@S@So we must look elsewhere for an explanation of the unusual power this case has exerted over the minds of many, not just in Washington but elsewhere in the country and even the world.@@@@1@34@@oe@2-2-2013
20946018@unknown@formal@none@1@S@I suggest that three themes have come together in the strange case of Dr. Morgan.@@@@1@15@@oe@2-2-2013
20946019@unknown@formal@none@1@S@The first is that it represents an intense battle in what James Thurber used to caricature as "the war between the sexes."@@@@1@22@@oe@2-2-2013
20946020@unknown@formal@none@1@S@But although Thurber did so gently and lightheartedly, many of Dr. Morgan's supporters have taken Thurber's memorable title "The Male Animal" quite literally.@@@@1@23@@oe@2-2-2013
20946021@unknown@formal@none@1@S@The vehemence of the emotions aroused by the case testifies to its symbolic importance in the war that Thurber accepted as an eternal part of the human condition.@@@@1@28@@oe@2-2-2013
20946022@unknown@formal@none@1@S@A second theme is the undercurrent of social class and race in the public reaction to the Morgan case.@@@@1@19@@oe@2-2-2013
20946023@unknown@formal@none@1@S@Dr. Morgan is a highly educated white professional who attended some of the "best" schools.@@@@1@15@@oe@2-2-2013
20946024@unknown@formal@none@1@S@As members of the Black Caucus in Congress asked during the debate on the legislation that freed Dr. Morgan, does anyone seriously believe that if she were an uneducated, black, working-class woman, Congress would have rushed to pass a private relief bill freeing her?@@@@1@44@@oe@2-2-2013
20946025@unknown@formal@none@1@S@Or that the president would have hurried to sign the bill "out of compassion for her plight"?@@@@1@17@@oe@2-2-2013
20946026@unknown@formal@none@1@S@To ask those questions is to answer them.@@@@1@8@@oe@2-2-2013
20946027@unknown@formal@none@1@S@Finally, the case of Dr. Morgan gave Congress an opportunity to act with unaccustomed decisiveness and to engage in one of its favorite pastimes -- bashing the District of Columbia government.@@@@1@31@@oe@2-2-2013
20946028@unknown@formal@none@1@S@The local government is discredited in the eyes of many residents for a variety of reasons, and congressmen read the same newspapers and watch the same TV newscasts as other people in the area do.@@@@1@35@@oe@2-2-2013
20946029@unknown@formal@none@1@S@Bashing the D.C. government is risk-free for members of Congress, who do not have to answer to their own constituents for it.@@@@1@22@@oe@2-2-2013
20946030@unknown@formal@none@1@S@Congress is paralyzed from acting on such great issues of the day as the federal budget deficit.@@@@1@17@@oe@2-2-2013
20946031@unknown@formal@none@1@S@Yet a bill tailored to the interests of a single individual passed Congress with almost unimaginable speed, before the judicial process had run its course, and, indeed, while the Morgan case was awaiting a ruling by the appellate court.@@@@1@39@@oe@2-2-2013
20946032@unknown@formal@none@1@S@The Morgan case thus tells us much more about the current state of sex, class, race and politics in our society than it does about the facts of Dr. Morgan's particular situation.@@@@1@32@@oe@2-2-2013
20946033@unknown@formal@none@1@S@It may stand as a metaphor for how wide and deep the divisions in that society continue to be however we try to deny their existence.@@@@1@26@@oe@2-2-2013
20946034@unknown@formal@none@1@S@Mr. Rezneck is a lawyer in Washington, D.C.@@@@1@8@@oe@2-2-2013
20947001@unknown@formal@none@1@S@The National Aeronautics and Space Administration said it awarded General Dynamics Corp. a $64 million contract to launch the Combined Release and Radiation Effects Satellite in June 1990.@@@@1@28@@oe@2-2-2013
20947002@unknown@formal@none@1@S@CRRES is a joint NASA-Air Force satellite to study the effects of space radiation on micro-electronic components.@@@@1@17@@oe@2-2-2013
20947003@unknown@formal@none@1@S@NASA said General Dynamics will launch CRRES using an Atlas 1 rocket.@@@@1@12@@oe@2-2-2013
20948001@unknown@formal@none@1@S@Ronald J. Taylor, 48, was named chairman of this insurance firm's reinsurance brokerage group and its major unit, G.L. Hodson & Son Inc.@@@@1@23@@oe@2-2-2013
20948002@unknown@formal@none@1@S@Robert G. Hodson, 65, retired as chairman but will remain a consultant.@@@@1@12@@oe@2-2-2013
20948003@unknown@formal@none@1@S@Stephen A. Crane, 44, senior vice president and chief financial and planning officer of the parent, was named president and chief executive of the brokerage group and the unit, succeeding Mr. Taylor.@@@@1@32@@oe@2-2-2013
20948004@unknown@formal@none@1@S@The appointments are effective Nov. 1.@@@@1@6@@oe@2-2-2013
20948005@unknown@formal@none@1@S@Corroon said it will announce a successor to Mr. Crane at a later date.@@@@1@14@@oe@2-2-2013
20949001@unknown@formal@none@1@S@An investment company said it offered to acquire Arby's Inc., the fast-food operator, for $205 million.@@@@1@16@@oe@2-2-2013
20949002@unknown@formal@none@1@S@The proposal, however, was immediately rebuffed by Arby's parent, DWG Corp.@@@@1@11@@oe@2-2-2013
20949003@unknown@formal@none@1@S@"Arby's isn't for sale," said Renee Mottram, senior vice president at DWG.@@@@1@12@@oe@2-2-2013
20949004@unknown@formal@none@1@S@The new suitor, Stevric Equity Ventures Inc., of Mineola, N.Y., characterized its proposal as the "first truly independent offer which does not pit one interest group against another within the Arby's franchisee community."@@@@1@33@@oe@2-2-2013
20949005@unknown@formal@none@1@S@In September, DWG, a Miami Beach, Fla., holding company controlled by financeer Victor Posner, rejected an offer from a group of Arby's franchisees to acquire Arby's for $200 million.@@@@1@29@@oe@2-2-2013
20949006@unknown@formal@none@1@S@Since then, a second group of franchisees has banded together to try to wrestle control of the unit from Mr. Posner.@@@@1@21@@oe@2-2-2013
20949007@unknown@formal@none@1@S@Arby's is the marketing, franchising and service company for the 2,100 restaurants in the chain.@@@@1@15@@oe@2-2-2013
20949008@unknown@formal@none@1@S@Stevric's principals, Richard and Steven Buckley, said they led the acquisition group that acquired the Nathan's Famous Inc. restaurant chain and subsequently served as the top officers of the company.@@@@1@30@@oe@2-2-2013
20949009@unknown@formal@none@1@S@Richard Buckley said Stevric's acquisition of Arby's "would allow seasoned franchisers and food-service operators, with no conflicts of interest, to stabilize franchisee relations and properly refocus the company's energies toward growth.@@@@1@31@@oe@2-2-2013
20950001@unknown@formal@none@1@S@General Motors Corp.'s big defense and automotive electronics unit, GM Hughes Electronics, said net income fell 22% in the third quarter, reflecting declining military spending and slumping GM vehicle production.@@@@1@30@@oe@2-2-2013
20950002@unknown@formal@none@1@S@Meanwhile, net at GM's finance arm, General Motors Acceptance Corp., fell 3.1%.@@@@1@12@@oe@2-2-2013
20950003@unknown@formal@none@1@S@By contrast, Electronic Data Systems Corp., GM's data processing subsidiary, boosted net 16%.@@@@1@13@@oe@2-2-2013
20950004@unknown@formal@none@1@S@GM closed down $1.875 at $44.875 in New York Stock Exchange trading yesterday.@@@@1@13@@oe@2-2-2013
20950005@unknown@formal@none@1@S@Earnings for GM common stock, reflecting the performance of GM's core automotive operations, will be disclosed this morning.@@@@1@18@@oe@2-2-2013
20950006@unknown@formal@none@1@S@GM Class H, which represents a dividend interest in Hughes earnings, closed at $29, up 25 cents in Big Board composite trading.@@@@1@22@@oe@2-2-2013
20950007@unknown@formal@none@1@S@GM Class E, which represents a dividend interest in EDS profit, fell 75 cents to $52.25 on the Big Board.@@@@1@20@@oe@2-2-2013
20950008@unknown@formal@none@1@S@The earnings drop at GM Hughes Electronics is a sign of tough times at both the defense operations of Hughes Aircraft Co. and GM's North American automotive operations, which are a primary customer for the Delco Electronics Corp. side of the GM Hughes unit.@@@@1@44@@oe@2-2-2013
20950009@unknown@formal@none@1@S@Profit at the unit fell to $110.6 million, or 37 cents a share, from $142.4 million, or 45 cents a share, largely because of a $24 million one-time charge associated with Hughes's previously announced plan to reduce employment by at least 6,000 people by year end.@@@@1@46@@oe@2-2-2013
20950010@unknown@formal@none@1@S@Even excluding the charge, however, net fell 5%.@@@@1@8@@oe@2-2-2013
20950011@unknown@formal@none@1@S@In addition, GM's North American vehicle production fell 8.4% from a year ago, which hurt Delco Electronic's earnings, a company spokesman said.@@@@1@22@@oe@2-2-2013
20950012@unknown@formal@none@1@S@That decline was reflected in revenue for the GM Hughes unit, which edged down to $2.58 billion from $2.63 billion.@@@@1@20@@oe@2-2-2013
20950013@unknown@formal@none@1@S@In the nine months, GM Hughes net fell 6.6% to $486.6 million, or $1.48 a share, from $521 million, or $1.58 a share.@@@@1@23@@oe@2-2-2013
20950014@unknown@formal@none@1@S@Revenue rose 3.5% to $8.47 billion from $8.18 billion.@@@@1@9@@oe@2-2-2013
20950015@unknown@formal@none@1@S@At GMAC, net dropped 3.1% to $234.5 million from $241.9 million.@@@@1@11@@oe@2-2-2013
20950016@unknown@formal@none@1@S@The finance unit attributed the decline to higher borrowing costs compared with a year earlier.@@@@1@15@@oe@2-2-2013
20950017@unknown@formal@none@1@S@GMAC said its automotive financing and leasing business rose 35% in the U.S., largely because of dealer and customer incentives used to boost sales.@@@@1@24@@oe@2-2-2013
20950018@unknown@formal@none@1@S@GMAC profits are combined with earnings from the rest of GM's operations and attributed to the company's traditional common stock.@@@@1@20@@oe@2-2-2013
20950019@unknown@formal@none@1@S@In the first nine months, GMAC's earnings fell 8% to $859.5 million from $930.2 million.@@@@1@15@@oe@2-2-2013
20950020@unknown@formal@none@1@S@At EDS, third-quarter profit jumped 16% to a record $110.9 million, or 93 cents a share, from $95.9 million, or 79 cents a share.@@@@1@24@@oe@2-2-2013
20950021@unknown@formal@none@1@S@Revenue rose 12% to $1.37 billion from $1.22 billion.@@@@1@9@@oe@2-2-2013
20950022@unknown@formal@none@1@S@In the nine months, EDS earned $315.8 million, or $2.62 a share, up 13% from $280.7 million, or $2.30 a share.@@@@1@21@@oe@2-2-2013
20950023@unknown@formal@none@1@S@Revenue rose 14% to $4.03 billion from $3.54 billion.@@@@1@9@@oe@2-2-2013
20950024@unknown@formal@none@1@S@Revenue from non-GM accounts was 45% of EDS's total business in the latest nine months, compared with 40% a year earlier.@@@@1@21@@oe@2-2-2013
20950025@unknown@formal@none@1@S@The company has said it wants to boost non-GM revenue to at least 50% of its total business by the end of 1990.@@@@1@23@@oe@2-2-2013
20951001@unknown@formal@none@1@S@William C. Ballard Jr., 48 years old, was elected a director of this distilled beverages concern, expanding the board to 11 members.@@@@1@22@@oe@2-2-2013
20952001@unknown@formal@none@1@S@Alvin W. Trivelpiece, director of Oak Ridge National Laboratory, Oak Ridge, Tenn., was elected a director of this optical-products concern.@@@@1@20@@oe@2-2-2013
20952002@unknown@formal@none@1@S@Mr. Trivelpiece, 58 years old, succeeds William Bolger, who died in August.@@@@1@12@@oe@2-2-2013
20953001@unknown@formal@none@1@S@In the bidding war for Public Service Co. of New Hampshire, United Illuminating Co. raised its proposed offer to one it valued at $2.29 billion from $2.19 billion, apparently topping all other bidders.@@@@1@33@@oe@2-2-2013
20953002@unknown@formal@none@1@S@The bids remain subject to evaluation by the federal bankruptcy court supervising PS of New Hampshire's reorganization.@@@@1@17@@oe@2-2-2013
20953003@unknown@formal@none@1@S@They are also indirectly subject to approval by the state of New Hampshire, where residents fear soaring rates to pay for the cost of reorganization.@@@@1@25@@oe@2-2-2013
20953004@unknown@formal@none@1@S@Each of the four parties bidding for PS of New Hampshire proposes a complex financial package to satisfy creditors and shareholders and also proposes a formula to limit rate increases to satisfy the state.@@@@1@34@@oe@2-2-2013
20953005@unknown@formal@none@1@S@The new round of bidding would seem to complicate the decision making for Judge James Yacos, the bankruptcy judge overseeing the case, because the company's stockholders, unsecured creditors and regulators each are currently backing different plans.@@@@1@36@@oe@2-2-2013
20953006@unknown@formal@none@1@S@In addition, some of the proposals are so close, that non-financial issues such as timing may play a more important role.@@@@1@21@@oe@2-2-2013
20953007@unknown@formal@none@1@S@The unsecured creditors agreed in principle to support New Haven, Conn.-based United Illuminating's new bid.@@@@1@15@@oe@2-2-2013
20953008@unknown@formal@none@1@S@They previously had backed an internal reorganization plan proposed by PS of New Hampshire.@@@@1@14@@oe@2-2-2013
20953009@unknown@formal@none@1@S@All of the bidders contemplate full payment including interest to secured creditors.@@@@1@12@@oe@2-2-2013
20953010@unknown@formal@none@1@S@United Illuminating's plan, however, offers more for unsecured creditors.@@@@1@9@@oe@2-2-2013
20953011@unknown@formal@none@1@S@Geoffrey Kalmus, counsel to the official creditors committee, said that under the United Illuminating plan, unsecured creditors would be paid in full credits and interest of about $855 million, accrued before PS of New Hampshire's Jan. 1988 filing for bankruptcy court protection.@@@@1@42@@oe@2-2-2013
20953012@unknown@formal@none@1@S@In addition, they would receive some $200 million in payments for interest since then.@@@@1@14@@oe@2-2-2013
20953013@unknown@formal@none@1@S@Mr. Kalmus said that by next July they would have accrued unpaid interest equal to $350 million.@@@@1@17@@oe@2-2-2013
20953014@unknown@formal@none@1@S@Other plans generally wouldn't pay unsecured creditors' interest accrued since the filing.@@@@1@12@@oe@2-2-2013
20953015@unknown@formal@none@1@S@Under United Illuminating's plan, a new holding company would be formed to own the two companies.@@@@1@16@@oe@2-2-2013
20953016@unknown@formal@none@1@S@It would be 72%-owned by United Illuminating holders and 28%-owned by current holders of PS of New Hampshire preferred and common stock.@@@@1@22@@oe@2-2-2013
20953017@unknown@formal@none@1@S@PS of New Hampshire preferred holders also would get certain debentures and preferred stock.@@@@1@14@@oe@2-2-2013
20953018@unknown@formal@none@1@S@United Illuminating said the preferred holders total package would equal about 60% of their claims.@@@@1@15@@oe@2-2-2013
20953019@unknown@formal@none@1@S@Common shareholders would end up owning about 6.4% of the combined company.@@@@1@12@@oe@2-2-2013
20953020@unknown@formal@none@1@S@As previously reported, Northeast Utilities, Hartford, Conn., Monday filed a bid it valued at $2.25 billion.@@@@1@16@@oe@2-2-2013
20953021@unknown@formal@none@1@S@That offer was endorsed by the shareholders committee.@@@@1@8@@oe@2-2-2013
20953022@unknown@formal@none@1@S@The other bidders, New England Electric System, Westboro, Mass., and PS of New Hampshire, didn't change the value of their bids, although PS of New Hampshire changed its rate proposal.@@@@1@30@@oe@2-2-2013
20953023@unknown@formal@none@1@S@New England Electric values its offer at $2 billion and PS of New Hampshire values its reorganization plan at $2.2 billion.@@@@1@21@@oe@2-2-2013
20953024@unknown@formal@none@1@S@The bankruptcy judge has ruled that federal bankruptcy laws could be used to circumvent state regulation.@@@@1@16@@oe@2-2-2013
20953025@unknown@formal@none@1@S@However, creditors and bidders alike concede that the state plays a major role because it could significantly delay final settlement of a plan it didn't like.@@@@1@26@@oe@2-2-2013
20953026@unknown@formal@none@1@S@The state has endorsed the New England Electric plan, which promises to limit rate increases to 4.8% annually for seven years.@@@@1@21@@oe@2-2-2013
20953027@unknown@formal@none@1@S@Northeast Utilities' plan proposes 5.5% annual increases.@@@@1@7@@oe@2-2-2013
20953028@unknown@formal@none@1@S@PS of New Hampshire amended its plan to call for two years of 5.5% rate increases followed by five years of 4.5% increases.@@@@1@23@@oe@2-2-2013
20953029@unknown@formal@none@1@S@Fuel cost adjustments could change the effective rate increases, however.@@@@1@10@@oe@2-2-2013
20953030@unknown@formal@none@1@S@Previously it had proposed seven years of 5.5% increases.@@@@1@9@@oe@2-2-2013
20953031@unknown@formal@none@1@S@United Illuminating also amended its rate plan.@@@@1@7@@oe@2-2-2013
20953032@unknown@formal@none@1@S@The new offer assumes just five years of 5.5% rate increases, to be followed by state-approved increases under the usual hearing procedure.@@@@1@22@@oe@2-2-2013
20953033@unknown@formal@none@1@S@Previously United Illuminating had also called for seven years of 5.5% increases.@@@@1@12@@oe@2-2-2013
20953034@unknown@formal@none@1@S@The bids and rate proposals generally assume the Seabrook nuclear power plant, which is completed, will go into operation.@@@@1@19@@oe@2-2-2013
20953035@unknown@formal@none@1@S@Most of the plans have reduced bids in case the plant fails to get a license from the Nuclear Regulatory Commission.@@@@1@21@@oe@2-2-2013
20953036@unknown@formal@none@1@S@In New York Stock Exchange trading, PS of New Hampshire's 17 1/2 debenture due 2004 closed yesterday at $82.50, up $2.@@@@1@21@@oe@2-2-2013
20953037@unknown@formal@none@1@S@The utility's stock closed at $4 a share, up 37.5 cents, in composite trading on the Big Board.@@@@1@18@@oe@2-2-2013
20953038@unknown@formal@none@1@S@In a separate development, PS of New Hampshire gave 60 managers severance agreements that would pay one to three years' salary if their jobs were changed or they were dismissed in the wake of a takeover.@@@@1@36@@oe@2-2-2013
20953039@unknown@formal@none@1@S@It said the maximum cost of the plan would be $9.7 million.@@@@1@12@@oe@2-2-2013
20954001@unknown@formal@none@1@S@C. Hyde Tucker will become president and chief executive officer of Bell Atlantic International Inc., a unit of this telecommunications concern, effective Jan. 1.@@@@1@24@@oe@2-2-2013
20954002@unknown@formal@none@1@S@Mr. Tucker, 56 years old, is currently vice president and chief operating officer of Bell Atlantic's C&P Telephone unit.@@@@1@19@@oe@2-2-2013
20954003@unknown@formal@none@1@S@Mr. Tucker will succeed Salvatore J. Barbera, 64, who will hold the newly created position of chairman of the international unit until his retirement April 1.@@@@1@26@@oe@2-2-2013
20955001@unknown@formal@none@1@S@Richard Breeden hadn't noticed that his new desk had just four telephone lines and one phone.@@@@1@16@@oe@2-2-2013
20955002@unknown@formal@none@1@S@It was, after all, only his second full day as chairman of the Securities and Exchange Commission.@@@@1@17@@oe@2-2-2013
20955003@unknown@formal@none@1@S@But the lack of lines became painfully apparent.@@@@1@8@@oe@2-2-2013
20955004@unknown@formal@none@1@S@As the stock market lurched into a 190-point free fall on Oct. 13, Mr. Breeden found himself scurrying around the sixth floor of the SEC -- from his desk, where the New York Stock Exchange was on an open line, to his assistant's office, where the Commodity Futures Trading Commission was connected, to a third room, where a computer monitored market moves.@@@@1@62@@oe@2-2-2013
20955005@unknown@formal@none@1@S@With other anxious calls pouring in, he recalls, "I'd either have to disconnect the New York Stock Exchange or go out to the secretary's desk."@@@@1@25@@oe@2-2-2013
20955006@unknown@formal@none@1@S@It won't happen again.@@@@1@4@@oe@2-2-2013
20955007@unknown@formal@none@1@S@Now there are more lines connected to the chairman's office, and the market-monitoring computer has been moved next to his desk.@@@@1@21@@oe@2-2-2013
20955008@unknown@formal@none@1@S@It's all part of a new "command center."@@@@1@8@@oe@2-2-2013
20955009@unknown@formal@none@1@S@The changes in the office layout illustrate Mr. Breeden's stance as the nation's top securities regulator.@@@@1@16@@oe@2-2-2013
20955010@unknown@formal@none@1@S@Like his predecessor, David Ruder, he was faced with a crisis in the stock markets soon after coming into office.@@@@1@20@@oe@2-2-2013
20955011@unknown@formal@none@1@S@But unlike Mr. Ruder, who during the 1987 crash damaged himself by saying rather offhandedly that the markets might be closed, Mr. Breeden is turning the market drop to his own advantage, using it to further his agenda for the SEC.@@@@1@41@@oe@2-2-2013
20955012@unknown@formal@none@1@S@In an interview and in congressional testimony, he repeatedly points to the recent 190-point plunge in the Dow Jones Industrial Average -- the second-largest ever -- as evidence of the need for Congress to give the SEC the ability to better monitor leveraged buy-out loan activity by brokerage firms and to track big trades in the market.@@@@1@57@@oe@2-2-2013
20955013@unknown@formal@none@1@S@A veteran of another financial crisis, the savings-and-loan bailout, Mr. Breeden wants to have the SEC regulate securities issued by banks and S&Ls.@@@@1@23@@oe@2-2-2013
20955014@unknown@formal@none@1@S@More broadly, he wants to "modernize" regulation by eliminating barriers between commercial and investment banking and by helping U.S. financial firms compete in the global market.@@@@1@26@@oe@2-2-2013
20955015@unknown@formal@none@1@S@He believes the tax code encourages the use of debt instead of stock and may fuel leveraged buy-outs, an area the SEC doesn't regulate directly but one where it wields influence both on Wall Street and in Congress.@@@@1@38@@oe@2-2-2013
20955016@unknown@formal@none@1@S@Also unlike Mr. Ruder, Mr. Breeden appears to be in a position to get somewhere with his agenda.@@@@1@18@@oe@2-2-2013
20955017@unknown@formal@none@1@S@As a former White House aide who worked closely with Congress, he is savvy in the ways of Washington.@@@@1@19@@oe@2-2-2013
20955018@unknown@formal@none@1@S@What's more, the coming months likely will offer him the opportunity to obtain his own majority on the five-member commission, enabling him to avoid the dissension that frustrated his predecessor.@@@@1@30@@oe@2-2-2013
20955019@unknown@formal@none@1@S@But Mr. Breeden, a 39-year-old securities lawyer, has skirted some of the heftier issues facing the financial markets.@@@@1@18@@oe@2-2-2013
20955020@unknown@formal@none@1@S@For instance, he hasn't stated a clear position on high-risk, high-yield junk bonds, an area of growing concern as turmoil in the junk market spills over into stocks.@@@@1@28@@oe@2-2-2013
20955021@unknown@formal@none@1@S@He may be waiting to see the results of several pending SEC studies of junk market liquidity and disclosure rules.@@@@1@20@@oe@2-2-2013
20955022@unknown@formal@none@1@S@He also has kept a close wrap on the names of people under consideration for the crucial post of enforcement director at the commission, a job vacant since the summer.@@@@1@30@@oe@2-2-2013
20955023@unknown@formal@none@1@S@Mr. Breeden's selection will be scrutinized as an important signal about the strength of his commitment to continuing the SEC's high-profile pursuit of insider trading and market manipulation on Wall Street.@@@@1@31@@oe@2-2-2013
20955024@unknown@formal@none@1@S@Congress seems likely to let the new chairman have his way for a while.@@@@1@14@@oe@2-2-2013
20955025@unknown@formal@none@1@S@Members of the Senate Banking Committee know Mr. Breeden from working on the thrift-bailout bill, and the relationship generally remains warm.@@@@1@21@@oe@2-2-2013
20955026@unknown@formal@none@1@S@Indeed, during Mr. Breeden's confirmation hearing last month, senators asked him to introduce his children three separate times -- more often than they asked about his qualifications for the job.@@@@1@30@@oe@2-2-2013
20955027@unknown@formal@none@1@S@These days, Mr. Breeden is winning praise in Washington and on Wall Street for his behind-the-scenes role in monitoring the Friday-the-13th market plunge and the following Monday's harrowing morning session.@@@@1@30@@oe@2-2-2013
20955028@unknown@formal@none@1@S@As a regulator charged with restoring investor confidence, Mr. Breeden avoided making market-jarring comments and worked to gather information critical to Wall Street and to other government agencies.@@@@1@28@@oe@2-2-2013
20955029@unknown@formal@none@1@S@Not everyone has jumped on the Breeden bandwagon, however.@@@@1@9@@oe@2-2-2013
20955030@unknown@formal@none@1@S@Some in Washington contend that it's too soon to tell whether Mr. Breeden will help or hinder the SEC.@@@@1@19@@oe@2-2-2013
20955031@unknown@formal@none@1@S@"I don't think this was a real test," says one congressional aide.@@@@1@12@@oe@2-2-2013
20955032@unknown@formal@none@1@S@"It was a fairly stressful weekend, but my sense is if you hadn't had Richard Breeden there, it wouldn't have made much of a difference."@@@@1@25@@oe@2-2-2013
20955033@unknown@formal@none@1@S@For some at the SEC, an agency that covets its independence, Mr. Breeden may be too much of a Washington insider.@@@@1@21@@oe@2-2-2013
20955034@unknown@formal@none@1@S@They note that he has adorned his office with five photos of George Bush, one of them featuring the First Dog, Millie.@@@@1@22@@oe@2-2-2013
20955035@unknown@formal@none@1@S@They worry that Mr. Breeden also will roll over when told to do so by the White House.@@@@1@18@@oe@2-2-2013
20955036@unknown@formal@none@1@S@But Mr. Breeden already has shown an eagerness to run the SEC his way.@@@@1@14@@oe@2-2-2013
20955037@unknown@formal@none@1@S@During the Monday market rebound, a New York exchange spokesman told Cable News Network viewers that the industrial average had turned down 70 points.@@@@1@24@@oe@2-2-2013
20955038@unknown@formal@none@1@S@Stunned, Mr. Breeden turned to his market-monitoring computer, which by then was next to his desk.@@@@1@16@@oe@2-2-2013
20955039@unknown@formal@none@1@S@It showed the DJIA up 30 points.@@@@1@7@@oe@2-2-2013
20955040@unknown@formal@none@1@S@SEC staffers soon determined that a widely watched stock-market service, Quotron, had miscalculated the industrial average.@@@@1@16@@oe@2-2-2013
20955041@unknown@formal@none@1@S@Mr. Breeden instructed SEC staffers to inform the network that it was airing the wrong number.@@@@1@16@@oe@2-2-2013
20955042@unknown@formal@none@1@S@"It was the plunge that didn't happen," he says.@@@@1@9@@oe@2-2-2013
20955043@unknown@formal@none@1@S@Mr. Breeden also is trying to use a far more catastrophic event -- the California earthquake -- to move another rule change past Congress.@@@@1@24@@oe@2-2-2013
20955044@unknown@formal@none@1@S@That disaster closed the Pacific Stock Exchange's stock options-trading operation, forcing those options to be switched to other exchanges temporarily.@@@@1@20@@oe@2-2-2013
20955045@unknown@formal@none@1@S@Though obscure to most investors, the question of whether to list options on more than one exchange has aroused much interest in Congress, mainly because regional exchanges fear the change could bankrupt them.@@@@1@33@@oe@2-2-2013
20955046@unknown@formal@none@1@S@Congressmen raised the issue yesterday at a hearing.@@@@1@8@@oe@2-2-2013
20955047@unknown@formal@none@1@S@Mr. Breeden, not missing a chance to press his agenda, cited the earthquake.@@@@1@13@@oe@2-2-2013
20955048@unknown@formal@none@1@S@That event, he contended, simply shows the "vulnerability" of having listings on only one exchange.@@@@1@15@@oe@2-2-2013
20956001@unknown@formal@none@1@S@In a corner of the cavernous, new Nippon Convention Center sits Mazda Motor Corp.'s advanced-technology display.@@@@1@16@@oe@2-2-2013
20956002@unknown@formal@none@1@S@The highlight: a "fragrance control system."@@@@1@6@@oe@2-2-2013
20956003@unknown@formal@none@1@S@With the touch of a button, drivers can choose from lavender, jasmine, mint or perfume scents, all blown in through the car's air-conditioning system.@@@@1@24@@oe@2-2-2013
20956004@unknown@formal@none@1@S@The soft, wafting aromas will "improve ride comfort," the display attests, and a proud employee says Mazda hopes to move the system out of the lab and into its cars in a year or two.@@@@1@35@@oe@2-2-2013
20956005@unknown@formal@none@1@S@Welcome to the 28th Tokyo Motor Show.@@@@1@7@@oe@2-2-2013
20956006@unknown@formal@none@1@S@Here you can find Mitsubishi Motors Corp. displaying a "live fish transporter," a truck akin to an aquarium on wheels, and Nissan Motor Co. with its "keyless" Boga, whose doors unlock upon recognizing the owner's fingerprints.@@@@1@36@@oe@2-2-2013
20956007@unknown@formal@none@1@S@Suzuki Motor Co.'s Escudome sport vehicle features a pop-out rear tent and invites drivers to go "back to the nature."@@@@1@20@@oe@2-2-2013
20956008@unknown@formal@none@1@S@But this biennial event, the world's largest display of cars and trucks, has its serious side, including the first major exhibitions of future engines and vehicle-suspension systems.@@@@1@27@@oe@2-2-2013
20956009@unknown@formal@none@1@S@It's also the prime showcase for a country whose world dominance in the industry is increasingly acknowledged, and therein lies the draw.@@@@1@22@@oe@2-2-2013
20956010@unknown@formal@none@1@S@Even the biggest auto shows in the U.S. are largely regional affairs, but the Tokyo show is international.@@@@1@18@@oe@2-2-2013
20956011@unknown@formal@none@1@S@Virtually every automotive analyst in New York showed up.@@@@1@9@@oe@2-2-2013
20956012@unknown@formal@none@1@S@Detroit-to-Tokyo flights were booked solid this week as Motor City executives, including Ford Motor Co. Chairman Donald E. Petersen and Chrysler Corp. Vice Chairman Gerald Greenwald, flocked to see the future.@@@@1@31@@oe@2-2-2013
20956013@unknown@formal@none@1@S@Even the Soviet Union came, for the first time in 24 years, to show off its Lada Niva sedan and its futuristic dark-blue "Kompakt" model.@@@@1@25@@oe@2-2-2013
20956014@unknown@formal@none@1@S@Here's a firsthand look at what the Japanese hosts sported, and what the foreign visitors saw.@@@@1@16@@oe@2-2-2013
20956015@unknown@formal@none@1@S@New Technology@@@@1@2@@oe@2-2-2013
20956016@unknown@formal@none@1@S@The hottest displays were items that insulate passengers from bumps, potholes and other rigors of the road.@@@@1@17@@oe@2-2-2013
20956017@unknown@formal@none@1@S@These "active suspension systems" electronically sense road conditions and adjust a car's ride.@@@@1@13@@oe@2-2-2013
20956018@unknown@formal@none@1@S@Existing suspension systems try to absorb bounces, but active suspension provides power to counter the jolts.@@@@1@16@@oe@2-2-2013
20956019@unknown@formal@none@1@S@Nissan, in a 34-page tract, modestly compares its "hydraulic active suspension" to a cheetah, and equates the various parts to the animal's heart, brain, nerves and blood vessels.@@@@1@28@@oe@2-2-2013
20956020@unknown@formal@none@1@S@Toyota Motor Corp. grandly touted its system in a car that splits in half to reveal the suspension's inner workings.@@@@1@20@@oe@2-2-2013
20956021@unknown@formal@none@1@S@Nissan says it will introduce its first system next month on the Infiniti Q45 luxury sedan, and Toyota's Celica coupe will go on sale with the suspension device next spring.@@@@1@30@@oe@2-2-2013
20956022@unknown@formal@none@1@S@But drivers in the U.S. must wait: The Japanese, for now, are keeping active suspension for domestic use only.@@@@1@19@@oe@2-2-2013
20956023@unknown@formal@none@1@S@And Detroit's Big Three auto makers say their systems are still under development.@@@@1@13@@oe@2-2-2013
20956024@unknown@formal@none@1@S@In the engine department, several companies displayed experimental models that within a decade could provide power equal to today's engines and yet take up only half the space, allowing for shorter hoods.@@@@1@32@@oe@2-2-2013
20956025@unknown@formal@none@1@S@In the so-called two-stroke engines, which are expected to get sharply higher gas mileage, each piston goes up and down only once to provide power.@@@@1@25@@oe@2-2-2013
20956026@unknown@formal@none@1@S@By contrast, the pistons in conventional four-stroke engines must move up and down twice in each power cycle.@@@@1@18@@oe@2-2-2013
20956027@unknown@formal@none@1@S@The two-stroke engine displays by Toyota and Fuji Heavy Industries, the maker of Subaru cars, drew plenty of interest from U.S. auto executives, who are rushing to develop two-stroke engines.@@@@1@30@@oe@2-2-2013
20956028@unknown@formal@none@1@S@Honda Motor Co. shows a more conventional five-cylinder engine in the new Accord Inspire model, which made its debut just this month -- in Japan only.@@@@1@26@@oe@2-2-2013
20956029@unknown@formal@none@1@S@Honda says the five-cylinder engine provides a compromise between the fuel-economy of a four-cylinder, and the power of a V-6.@@@@1@20@@oe@2-2-2013
20956030@unknown@formal@none@1@S@It is rumored to be bound for a new model in the luxury Acura line in the U.S., but Honda officials wouldn't comment.@@@@1@23@@oe@2-2-2013
20956031@unknown@formal@none@1@S@Odd Cars, Funny Names@@@@1@4@@oe@2-2-2013
20956032@unknown@formal@none@1@S@There's plenty of whimsy here, but it isn't always clear whether it's intentional.@@@@1@13@@oe@2-2-2013
20956033@unknown@formal@none@1@S@The show's symbol is a woman riding on a snail, not your usual metaphor for speed and agility.@@@@1@18@@oe@2-2-2013
20956034@unknown@formal@none@1@S@But the sponsors have an explanation: "Through the character associated with a snail," they say, "important values such as harmony with nature and aspirations for the future are sought."@@@@1@29@@oe@2-2-2013
20956035@unknown@formal@none@1@S@Japanese auto makers are known for coming up with funny names, but this year the practice seems to have reached a new high -- or low.@@@@1@26@@oe@2-2-2013
20956036@unknown@formal@none@1@S@Honda has a tiny motorcycle called the Monkey, and a slightly larger cousin, the Gorilla.@@@@1@15@@oe@2-2-2013
20956037@unknown@formal@none@1@S@Mitsubishi has a futuristic delivery truck called the Guppy.@@@@1@9@@oe@2-2-2013
20956038@unknown@formal@none@1@S@Mazda has the Bongo truck and, under its Autozam nameplate, a "microvan" called the Scrum.@@@@1@15@@oe@2-2-2013
20956039@unknown@formal@none@1@S@Its buglike Carol minicar is "designed with softness, gentleness and warmheartedness."@@@@1@11@@oe@2-2-2013
20956040@unknown@formal@none@1@S@But the court jester appears to be Japan's smallest car maker, Daihatsu Motor Co.@@@@1@14@@oe@2-2-2013
20956041@unknown@formal@none@1@S@One of its futuristic concepts is the bubblelike Sneaker, which seats just one person in front and could hold a small child and bag of groceries in the rear.@@@@1@29@@oe@2-2-2013
20956042@unknown@formal@none@1@S@Daihatsu also has the Fellow 90, the Leeza Spider and the Hijet Dumbo.@@@@1@13@@oe@2-2-2013
20956043@unknown@formal@none@1@S@The jokes aren't just on the Japanese, though.@@@@1@8@@oe@2-2-2013
20956044@unknown@formal@none@1@S@Regie Nationale des Usines Renault, the French auto maker, has a concept car called the Megane.@@@@1@16@@oe@2-2-2013
20956045@unknown@formal@none@1@S@The name is supposed to connote feminine grandeur, but in Japanese it means "eyeglasses."@@@@1@14@@oe@2-2-2013
20956046@unknown@formal@none@1@S@Foreign Presence@@@@1@2@@oe@2-2-2013
20956047@unknown@formal@none@1@S@Foreign auto makers are taking the Tokyo Motor Show more seriously than ever.@@@@1@13@@oe@2-2-2013
20956048@unknown@formal@none@1@S@AB Volvo invites passers-by to play "the role of the test dummy" by hopping in a car that simulates a crash to show just how its seat-belt tightener works.@@@@1@29@@oe@2-2-2013
20956049@unknown@formal@none@1@S@Hyundai Motor Co. of South Korea has its first-ever exhibit in Tokyo.@@@@1@12@@oe@2-2-2013
20956050@unknown@formal@none@1@S@General Motors Corp. is sponsoring its first independent display in 10 years, and it includes a boxy Buick station wagon with wood-grain side panels.@@@@1@24@@oe@2-2-2013
20956051@unknown@formal@none@1@S@Ford and Chrysler also have exhibits, although theirs are tucked in a separate room with the less-popular automotive parts section.@@@@1@20@@oe@2-2-2013
20956052@unknown@formal@none@1@S@"We've got to get out of the Detroit mentality and be part of the world mentality," declares Charles M. Jordan, GM's vice president for design, in explaining his pilgrimage to the Tokyo Show.@@@@1@33@@oe@2-2-2013
20956053@unknown@formal@none@1@S@Even so, traditional American cockiness isn't terribly endangered.@@@@1@8@@oe@2-2-2013
20956054@unknown@formal@none@1@S@Ford officials, for example, crowed about their first-ever Tokyo Grand Prix racing victory.@@@@1@13@@oe@2-2-2013
20956055@unknown@formal@none@1@S@True, Ford was declared the winner Sunday, but only after the Honda driver who crossed the finish line first was disqualified because it hit another car and skid momentarily out of bounds.@@@@1@32@@oe@2-2-2013
20956056@unknown@formal@none@1@S@Mr. Jordan of GM, meanwhile, still criticizes Japanese styling.@@@@1@9@@oe@2-2-2013
20956057@unknown@formal@none@1@S@"It's hard for the Japanese," he says, "to get a feeling in a car, to get a passion in a car, to get emotion in a car.@@@@1@27@@oe@2-2-2013
20957001@unknown@formal@none@1@S@Regarding your Sept. 28 Politics & Policy column on the party differences over cutting capital gains or expanding IRAs: Why not compromise now and save the public from the coming infantile congressional political rhetoric that seems to go hand in hand with the process?@@@@1@44@@oe@2-2-2013
20957002@unknown@formal@none@1@S@The Republicans maintain that a 30% capital-gains exclusion will raise revenue in the short term and spur economic investment, while the Democrats maintain that an increase in the top income-tax rate and expanded IRAs will raise revenue and spur savings.@@@@1@40@@oe@2-2-2013
20957003@unknown@formal@none@1@S@This is a classic example of the old saying, "The whole is greater than the sum of its parts."@@@@1@19@@oe@2-2-2013
20957004@unknown@formal@none@1@S@It's ridiculous for a family with taxable income of $50,000 to pay the same 28% incremental tax rate as a family with taxable income of $250,000.@@@@1@26@@oe@2-2-2013
20957005@unknown@formal@none@1@S@The 33% bracket should apply to all income over the applicable level, not just the 5% rate adjustment amount.@@@@1@19@@oe@2-2-2013
20957006@unknown@formal@none@1@S@It's equally ridiculous not to provide a capital investment or retirement-savings tax incentive.@@@@1@13@@oe@2-2-2013
20957007@unknown@formal@none@1@S@Jeffrey T. Schmidlin@@@@1@3@@oe@2-2-2013
20958001@unknown@formal@none@1@S@PWA Corp. said it plans to sell by spring 1992 all 15 passenger planes it acquired earlier this year in its 248 million Canadian dollar (US$211.6 million) purchase of Wardair Inc.@@@@1@31@@oe@2-2-2013
20958002@unknown@formal@none@1@S@PWA, which recently merged Wardair's operations with those of PWA-owned Canadian Airlines International Ltd., Canada's second-biggest airline, said the proposed sale is part of a revised five-year plan aimed at streamlining its fleet and shedding debt.@@@@1@36@@oe@2-2-2013
20958003@unknown@formal@none@1@S@PWA wouldn't estimate the value of Wardair's aircraft, which include 12 Airbus A310-300s and three Boeing 747-100s.@@@@1@17@@oe@2-2-2013
20958004@unknown@formal@none@1@S@But James Ireland, a Miami-based technical analyst with Avmark Inc., an aircraft evaluation firm, estimated the total "half-life" value of the 15 planes at about $650 million or more.@@@@1@29@@oe@2-2-2013
20958005@unknown@formal@none@1@S@Mr. Ireland said 11 DC10-30 aircraft that PWA also said it plans to sell, beginning in 1992, have a current half-life value of about $34 million each, or a total $374 million, raising aggregate potential proceeds from the aircraft sale to about $1.02 billion.@@@@1@44@@oe@2-2-2013
20958006@unknown@formal@none@1@S@Mr. Ireland said current demand for used aircraft is strong, partly because surging orders for new aircraft have lengthened waiting lists.@@@@1@21@@oe@2-2-2013
20958007@unknown@formal@none@1@S@He predicted that PWA would have little difficulty attracting prospective buyers.@@@@1@11@@oe@2-2-2013
20958008@unknown@formal@none@1@S@Under its revised fleet plan, PWA said it will also increase its existing fleet of eight Boeing 767-300ER aircraft to 18 by 1994, and add four more Boeing 747-400s by 1994 to the two units that it previously planned to add by next year.@@@@1@44@@oe@2-2-2013
20958009@unknown@formal@none@1@S@PWA said two of the Boeing 767-300ER aircraft scheduled for delivery in 1990 would be leased out for two to five years.@@@@1@22@@oe@2-2-2013
20958010@unknown@formal@none@1@S@PWA didn't disclose the expected net cost of the fleet overhaul, but a Toronto-based analyst estimated it at about $450 million (US), excluding replacement costs for the 11 DC10-30 aircraft that PWA plans to sell, and purchase costs for as many as 17 Airbus 320-200 aircraft that PWA previously ordered.@@@@1@50@@oe@2-2-2013
20958011@unknown@formal@none@1@S@"I don't see this as a debt reduction exercise.@@@@1@9@@oe@2-2-2013
20958012@unknown@formal@none@1@S@It's focused on streamlining" PWA's fleet in a bid to cut training and aircraft servicing costs, the analyst said.@@@@1@19@@oe@2-2-2013
20958013@unknown@formal@none@1@S@PWA's long-term debt and capital lease obligations rose to C$1.24 billion at the end of the second quarter, nearly double the year-earlier figure, reflecting debt absorbed under the Wardair purchase.@@@@1@30@@oe@2-2-2013
20958014@unknown@formal@none@1@S@PWA said it also expects to announce by Tuesday whether it will take delivery of all 17 Airbus 320-200 aircraft it previously ordered.@@@@1@23@@oe@2-2-2013
20958015@unknown@formal@none@1@S@The first five leased units were to be delivered in 1991.@@@@1@11@@oe@2-2-2013
20959001@unknown@formal@none@1@S@This British banking and financial-services group's investment-banking arm, Barclays de Zoete Wedd Group, announced the following appointments at its merchant-banking subsidiary Barclays de Zoete Wedd Ltd.@@@@1@26@@oe@2-2-2013
20959002@unknown@formal@none@1@S@John Padovan, 51 years old, was named a deputy chairman.@@@@1@10@@oe@2-2-2013
20959003@unknown@formal@none@1@S@Mr. Padovan is currently a director at Barclays de Zoete Wedd Ltd.@@@@1@12@@oe@2-2-2013
20959004@unknown@formal@none@1@S@Graham Pimlott, 40, was named to the new post of chief executive officer of the merchant-banking corporate-finance division.@@@@1@18@@oe@2-2-2013
20959005@unknown@formal@none@1@S@Callum McCarthy, 45, was named to the new post of deputy head of the corporate-finance division and a managing director.@@@@1@20@@oe@2-2-2013
20959006@unknown@formal@none@1@S@Mr. Pimlott and Mr. McCarthy join Barclay's from Kleinwort Benson Ltd. where they served as directors.@@@@1@16@@oe@2-2-2013
20960001@unknown@formal@none@1@S@The recent bids for United and American Airlines have led Congress to move with supersonic speed to protect incumbent airline managements.@@@@1@21@@oe@2-2-2013
20960002@unknown@formal@none@1@S@The House is scheduled to vote today on an anti-airline-takeover bill that would block, for up to 50 days, any bid for 15% or more of a U.S. airline, even a straight cash purchase.@@@@1@34@@oe@2-2-2013
20960003@unknown@formal@none@1@S@Transportation Secretary Sam Skinner, who earlier fueled the anti-takeover fires with his quasi-xenophobic attacks on foreign investment in U.S. carriers, now says the bill would further disturb the jittery capital markets.@@@@1@31@@oe@2-2-2013
20960004@unknown@formal@none@1@S@Texas Rep. Steve Bartlett, who has 40,000 American Airlines workers in his district, says the bill is "good politics, but bad law."@@@@1@22@@oe@2-2-2013
20960005@unknown@formal@none@1@S@It is ironic that at a time when America's partial airline deregulation is being emulated by governments from New Zealand to Ethiopia, so many in Congress favor an incumbent-protection program for airlines that would be more appropriate for the Soviet airline, Aeroflot.@@@@1@42@@oe@2-2-2013
20961001@unknown@formal@none@1@S@Federal Reserve Chairman Alan Greenspan told Congress that the Fed can wipe out inflation without causing a recession, but he said doing so will inflict some short-term pain and will require reducing the federal deficit sharply.@@@@1@36@@oe@2-2-2013
20961002@unknown@formal@none@1@S@Mr. Greenspan said he and other Fed governors endorse a bill by Rep. Stephen Neal (D., N.C.) that would require the Fed to pursue policies aimed at eliminating inflation within five years.@@@@1@32@@oe@2-2-2013
20961003@unknown@formal@none@1@S@"Such a deadline is attainable, but it would have costs," Mr. Greenspan told Rep. Neal's monetary policy subcommittee.@@@@1@18@@oe@2-2-2013
20961004@unknown@formal@none@1@S@The Fed chief opposed a bill-introduced by Reps. Lee Hamilton (D., Ind.) and Byron Dorgan (D., N.D.) -- that, among other things, would require the Fed to disclose all monetary policy moves immediately and increase outside scrutiny of the Fed.@@@@1@40@@oe@2-2-2013
20961005@unknown@formal@none@1@S@In responding to questions, Mr. Greenspan played down reports of tension between the Fed and the Treasury over exchange-rate policy.@@@@1@20@@oe@2-2-2013
20961006@unknown@formal@none@1@S@"What seem to be interpreted as great conflicts are relatively minor issues of tactics," he said.@@@@1@16@@oe@2-2-2013
20961007@unknown@formal@none@1@S@He didn't elaborate.@@@@1@3@@oe@2-2-2013
20961008@unknown@formal@none@1@S@But the Fed isn't enthusiastic about Treasury efforts to bring down the value of the dollar through intervention in foreign-exchange markets, and the Treasury is frustrated at the Fed's reluctance to cut interest rates to pull down the dollar's value.@@@@1@40@@oe@2-2-2013
20961009@unknown@formal@none@1@S@Mr. Greenspan said the inflation rate, currently about 4 1/2%, "could be brought down to levels which are close to zero without putting the economy into a recession, but I do suspect that there might be some modest loss of economic output."@@@@1@42@@oe@2-2-2013
20961010@unknown@formal@none@1@S@In other words, economic growth would be lower and unemployment would be higher for a few years.@@@@1@17@@oe@2-2-2013
20961011@unknown@formal@none@1@S@But Mr. Greenspan, who has repeatedly said the Fed's goal is to reduce inflation, added that "whatever losses are incurred in the pursuing of price stability would surely be more than made up in increased output thereafter."@@@@1@37@@oe@2-2-2013
20961012@unknown@formal@none@1@S@He warned that Fed efforts to conquer inflation would fail -- and could produce "a major financial crunch" -- unless they are accompanied by a significant reduction in the federal deficit, which causes the government to borrow heavily.@@@@1@38@@oe@2-2-2013
20961013@unknown@formal@none@1@S@Rep. Neal's bill originally called on the Fed to reduce the inflation rate by one percentage point a year for five years and to maintain a zero inflation rate thereafter.@@@@1@30@@oe@2-2-2013
20961014@unknown@formal@none@1@S@He altered the wording to win Mr. Greenspan's endorsement.@@@@1@9@@oe@2-2-2013
20961015@unknown@formal@none@1@S@Even so, his bill is given little chance of passage.@@@@1@10@@oe@2-2-2013
20961016@unknown@formal@none@1@S@Reps. Hamilton and Dorgan also have altered their bill, dropping a proposal to add the Treasury secretary to the 12-member Fed committee that makes monetary policy.@@@@1@26@@oe@2-2-2013
20961017@unknown@formal@none@1@S@Instead, the bill simply calls for twice-a-year meetings between the committee and top administration officials.@@@@1@15@@oe@2-2-2013
20961018@unknown@formal@none@1@S@Even that met with Mr. Greenspan's disapproval because it might subject the Fed "to a more intensely political perspective" and "could risk bending monetary policy away from long-term strategic goals."@@@@1@30@@oe@2-2-2013
20961019@unknown@formal@none@1@S@While each of the Hamilton-Dorgan proposals represents only a small step, together they would erode the Fed's independence, Mr. Greenspan said.@@@@1@21@@oe@2-2-2013
20961020@unknown@formal@none@1@S@Mr. Greenspan also said that although he favors cutting capital-gains taxes as sound economic policy, he would oppose such a move if it would undo the political compromise embodied in the Tax Reform Act of 1986 and result in higher marginal income tax rates.@@@@1@44@@oe@2-2-2013
20962001@unknown@formal@none@1@S@Sears, Roebuck & Co. signed a contract with Bob Vila, the former host of the popular public television program "This Old House," to star in a half-hour home improvement show sponsored by the giant retailer.@@@@1@35@@oe@2-2-2013
20962002@unknown@formal@none@1@S@The do-it-yourself show, slated to start airing by June 1990, marks Sears's entry into the burgeoning market of home repair television programs and could bolster sales of its home improvement products.@@@@1@31@@oe@2-2-2013
20962003@unknown@formal@none@1@S@In recent months, sales of home improvement items have sagged, along with sales of other big ticket durable goods.@@@@1@19@@oe@2-2-2013
20962004@unknown@formal@none@1@S@The show also signals Mr. Vila's return as a television celebrity.@@@@1@11@@oe@2-2-2013
20962005@unknown@formal@none@1@S@Earlier this year, public television station WGBH in Boston fired Mr. Vila after a sponsor protested some of his numerous commercial endorsements.@@@@1@22@@oe@2-2-2013
20962006@unknown@formal@none@1@S@With Mr. Vila as host, "This Old House" became one of the Public Broadcasting Service's top 10 programs, airing weekly on about 300 of the network's stations and seen by an average of 12 million viewers.@@@@1@36@@oe@2-2-2013
20962007@unknown@formal@none@1@S@But Home Depot Inc., an Atlanta-based home center chain, objected when Mr. Vila started doing commercial endorsements for Rickel Home Centers, a New Jersey building supply company that competes with Home Depot in some markets.@@@@1@35@@oe@2-2-2013
20962008@unknown@formal@none@1@S@"I'm ecstatic about the change," said Mr. Vila, whose new syndicated program is called "Home Again with Bob Vila."@@@@1@19@@oe@2-2-2013
20962009@unknown@formal@none@1@S@In an interview, Mr. Vila criticized his old show, which is continuing with a new host.@@@@1@16@@oe@2-2-2013
20962010@unknown@formal@none@1@S@"Public TV is in fantasy land," he said.@@@@1@8@@oe@2-2-2013
20962011@unknown@formal@none@1@S@"Last season, we did a story that involved spending $700,000 in converting a two-family house into a bed and breakfast."@@@@1@20@@oe@2-2-2013
20962012@unknown@formal@none@1@S@In the new show, he said, "we're going to spend $60,000 building a start-up house" for a young couple.@@@@1@19@@oe@2-2-2013
20962013@unknown@formal@none@1@S@While Sears wouldn't comment on the brouhaha over Mr. Vila's commercial endorsements, it appears to be building a fence around Mr. Vila's affections.@@@@1@23@@oe@2-2-2013
20962014@unknown@formal@none@1@S@His contract makes him "exclusive" spokesman for Sears's home improvement marketing campaigns.@@@@1@12@@oe@2-2-2013
20962015@unknown@formal@none@1@S@Ogilvy & Mather in Chicago, a unit of WPP Group PLC, will handle the advertising account and syndication.@@@@1@18@@oe@2-2-2013
20962016@unknown@formal@none@1@S@The only other endorsement permitted by the contract involves a series of Time-Life home improvement and repair books.@@@@1@18@@oe@2-2-2013
20962017@unknown@formal@none@1@S@His other agreements to promote products have expired.@@@@1@8@@oe@2-2-2013
20962018@unknown@formal@none@1@S@Little matter for Mr. Vila, who complains that "public TV never paid me more than $40,000 a year."@@@@1@18@@oe@2-2-2013
20962019@unknown@formal@none@1@S@He said his compensation under the Sears contract is "a multimillion dollar deal.@@@@1@13@@oe@2-2-2013
20963001@unknown@formal@none@1@S@Eugene A. Miller, 52 years old, was elected a director of this electric utility company, filling a vacancy.@@@@1@18@@oe@2-2-2013
20963002@unknown@formal@none@1@S@He is president and chief executive officer of Comerica Inc. in Detroit.@@@@1@12@@oe@2-2-2013
20964001@unknown@formal@none@1@S@The White House has decided to push for changes in pesticide law that are designed to speed the removal of harmful chemicals from the nation's food supply.@@@@1@27@@oe@2-2-2013
20964002@unknown@formal@none@1@S@The proposed changes, which are scheduled to be announced today, would apply to pesticides and other substances found on fresh and processed foods, according to federal officials.@@@@1@27@@oe@2-2-2013
20964003@unknown@formal@none@1@S@Environmental groups have been calling for faster action on dangerous pesticides and may welcome part of the proposal.@@@@1@18@@oe@2-2-2013
20964004@unknown@formal@none@1@S@But they are already objecting to, among other things, a plan to give more weight to cost-benefit considerations in evaluating pesticides.@@@@1@21@@oe@2-2-2013
20964005@unknown@formal@none@1@S@"It's a tremendous disappointment," said Janet Hathaway, an attorney with the Natural Resources Defense Council.@@@@1@15@@oe@2-2-2013
20964006@unknown@formal@none@1@S@"Allowing the EPA to condone continued use of a chemical whenever the benefits outweigh the risks is absolutely anathema to the environmental community."@@@@1@23@@oe@2-2-2013
20964007@unknown@formal@none@1@S@The Bush administration plans to announce a series of principles and to work with congressional leaders in writing specific legislative proposals that embody them.@@@@1@24@@oe@2-2-2013
20964008@unknown@formal@none@1@S@The principles would give the Environmental Protection Agency increased authority and flexibility in regulating pesticides, with the aim of enabling the agency to move more quickly.@@@@1@26@@oe@2-2-2013
20964009@unknown@formal@none@1@S@There already are proposals pending in Congress to overhaul pesticide law.@@@@1@11@@oe@2-2-2013
20964010@unknown@formal@none@1@S@Moves to accelerate the removal of dangerous pesticides gained new impetus during this year's Alar scare, when the EPA was harshly criticized for failing to yank the possible carcinogen, a growth regulator used to make apples redder and crunchier.@@@@1@39@@oe@2-2-2013
20964011@unknown@formal@none@1@S@The agency has since acted to remove Alar from the nation's grocery shelves by May 31, 1991, and the apple industry has said that growers already have stopped using the chemical.@@@@1@31@@oe@2-2-2013
20964012@unknown@formal@none@1@S@In addition, the principles attempt to eliminate the so-called Delaney Paradox.@@@@1@11@@oe@2-2-2013
20964013@unknown@formal@none@1@S@Under the Delaney clause, which applies to processed food, a chemical is banned if it causes cancer in laboratory animals.@@@@1@20@@oe@2-2-2013
20964014@unknown@formal@none@1@S@Under other laws applying to pesticide use, however, that same chemical could be allowed to be used on fresh food if it fell within the EPA's tolerance level.@@@@1@28@@oe@2-2-2013
20964015@unknown@formal@none@1@S@Among other changes, the White House wants to:@@@@1@8@@oe@2-2-2013
20964016@unknown@formal@none@1@S@-- Give the EPA more flexibility to declare a pesticide an imminent hazard and pull it from the marketplace.@@@@1@19@@oe@2-2-2013
20964017@unknown@formal@none@1@S@-- Speed up the process for removing a pesticide that isn't an imminent hazard.@@@@1@14@@oe@2-2-2013
20964018@unknown@formal@none@1@S@-- Bar states from setting more stringent tolerance levels for a pesticide once the federal government has set a standard.@@@@1@20@@oe@2-2-2013
20964019@unknown@formal@none@1@S@-- Give the EPA added discretion to set "negligible risk" levels for pesticide residues in processed food.@@@@1@17@@oe@2-2-2013
20964020@unknown@formal@none@1@S@Chemicals that exceed these risk levels would be barred, but those that fall below these levels would be allowed.@@@@1@19@@oe@2-2-2013
20964021@unknown@formal@none@1@S@-- Allow the EPA to permit the continued use of pesticides that exceed its negligible risk standard if the benefits of doing so outweigh the cost.@@@@1@26@@oe@2-2-2013
20965001@unknown@formal@none@1@S@Financial markets took a midweek break from their recent wild gyrations with stock prices falling modestly, bond prices posting tiny gains and the dollar almost unchanged.@@@@1@26@@oe@2-2-2013
20965002@unknown@formal@none@1@S@The Dow Jones Industrial Average lost 5.94 points to 2653.28 in moderate trading.@@@@1@13@@oe@2-2-2013
20965003@unknown@formal@none@1@S@Long-term Treasury bonds rose slightly despite the arrival on the market of $4.52 billion in 30-year bonds offered by the Resolution Funding Corp. as part of the government's bailout of the savings and loan industry.@@@@1@35@@oe@2-2-2013
20965004@unknown@formal@none@1@S@The dollar was barely changed against the West German mark and up marginally against the Japanese yen.@@@@1@17@@oe@2-2-2013
20965005@unknown@formal@none@1@S@Yesterday's sluggish action was in marked contrast to the rearing and plunging of stock prices Tuesday after the proposed buy-out of UAL Corp. once again collapsed.@@@@1@26@@oe@2-2-2013
20965006@unknown@formal@none@1@S@Traders said the stock market's lurching moves have prompted many investors to head for the sidelines until it regains some semblance of stability.@@@@1@23@@oe@2-2-2013
20965007@unknown@formal@none@1@S@Although bond prices weren't as volatile on Tuesday trading as stock prices, traders nevertheless said action also was much slower yesterday in the Treasury market.@@@@1@25@@oe@2-2-2013
20965008@unknown@formal@none@1@S@Bond investors paid close attention to comments by Federal Reserve Chairman Alan Greenspan, who was testifying before a congressional hearing, but weren't able to extract many clues about the future course of the Fed's monetary policy.@@@@1@36@@oe@2-2-2013
20965009@unknown@formal@none@1@S@Many analysts are expecting the Fed to lower interest rates at least once more before the end of the year.@@@@1@20@@oe@2-2-2013
20965010@unknown@formal@none@1@S@Investors now are awaiting today's release of the preliminary estimate of third-quarter gross national product.@@@@1@15@@oe@2-2-2013
20965011@unknown@formal@none@1@S@Economists predict the report will show economic growth of about 2.5% in the third quarter, which would have little effect on financial markets.@@@@1@23@@oe@2-2-2013
20965012@unknown@formal@none@1@S@But an unexpected deviation either way could roil bond and currency markets.@@@@1@12@@oe@2-2-2013
20965013@unknown@formal@none@1@S@In major market activity:@@@@1@4@@oe@2-2-2013
20965014@unknown@formal@none@1@S@Stock prices slipped lower in moderate trading.@@@@1@7@@oe@2-2-2013
20965015@unknown@formal@none@1@S@Volume on the New York Stock Exchange totaled 155.7 million shares.@@@@1@11@@oe@2-2-2013
20965016@unknown@formal@none@1@S@But advancing issues on the Big Board were ahead of decliners 784 to 700.@@@@1@14@@oe@2-2-2013
20965017@unknown@formal@none@1@S@Bond prices inched higher.@@@@1@4@@oe@2-2-2013
20965018@unknown@formal@none@1@S@The Treasury's benchmark 30-year issue rose less than an eighth of a point, or less than $1.25 for each $1,000 of face amount.@@@@1@23@@oe@2-2-2013
20965019@unknown@formal@none@1@S@The yield on the issue stood at 7.88%.@@@@1@8@@oe@2-2-2013
20965020@unknown@formal@none@1@S@The dollar was virtually unchanged.@@@@1@5@@oe@2-2-2013
20965021@unknown@formal@none@1@S@In late New York trading the U.S. currency was quoted at 1.8353 marks and 141.52 yen, compared with 1.8355 marks and 141.45 yen Tuesday.@@@@1@24@@oe@2-2-2013
20966001@unknown@formal@none@1@S@A few years ago, I was on a panel of journalists that discussed the "image" of intercollegiate athletics for an audience of campus information directors and others.@@@@1@27@@oe@2-2-2013
20966002@unknown@formal@none@1@S@We scribblers quickly concurred that not only was the bad rep of big-time college sports richly earned, but also that it could be corrected.@@@@1@24@@oe@2-2-2013
20966003@unknown@formal@none@1@S@Competition could be maintained -- and stadiums probably would remain full -- if schedules were reduced and the games returned to the students, we said.@@@@1@25@@oe@2-2-2013
20966004@unknown@formal@none@1@S@Comments from the audience reflected widespread, if wistful, agreement with those conclusions.@@@@1@12@@oe@2-2-2013
20966005@unknown@formal@none@1@S@As the session broke up, I was approached by a man who identified himself as the alumni director of a Big Ten university.@@@@1@23@@oe@2-2-2013
20966006@unknown@formal@none@1@S@"I'd love to see sports cut back, and so would a lot of my counterparts at other schools, but everybody's afraid to make the first move," he confided.@@@@1@28@@oe@2-2-2013
20966007@unknown@formal@none@1@S@"It's like the U.S. and the Russians: Nobody wants to disarm first."@@@@1@12@@oe@2-2-2013
20966008@unknown@formal@none@1@S@And so our institutions of higher learning lurch from scandal to scandal on gridiron and basketball court, while the casualties mount.@@@@1@21@@oe@2-2-2013
20966009@unknown@formal@none@1@S@Three new books make the point that one large price of the glittery college-sports show can be the integrity of the schools that stage it.@@@@1@25@@oe@2-2-2013
20966010@unknown@formal@none@1@S@They are: "A Payroll to Meet: A Story of Greed, Corruption and Football at SMU" (Macmillan, 221 pages, $18.95) by David Whitford; "Big Red Confidential: Inside Nebraska Football" (Contemporary, 231 pages, $17.95) by Armen Keteyian; and "Never Too Young to Die: The Death of Len Bias" (Pantheon, 252 pages, $18.95) by Lewis Cole.@@@@1@53@@oe@2-2-2013
20966011@unknown@formal@none@1@S@The pick of the group is "Payroll"; it should be required reading for every college president.@@@@1@16@@oe@2-2-2013
20966012@unknown@formal@none@1@S@It chronicles how, over a period of a dozen years, Southern Methodist University bought its way to football respectability in the Southwest Conference, only to find itself trapped and strangled by the athlete-payoff system it created.@@@@1@36@@oe@2-2-2013
20966013@unknown@formal@none@1@S@The school was the first, in 1987, to receive the NCAA's "death penalty" -- two years without football -- for repeated rules violations.@@@@1@23@@oe@2-2-2013
20966014@unknown@formal@none@1@S@Given current headlines about the University of Florida, it may not be the last.@@@@1@14@@oe@2-2-2013
20966015@unknown@formal@none@1@S@The man who brought the bribe to the Dallas school was Ron Meyer, a flashy sort who came in 1975 to rescue a woebegone program, Mr. Whitford writes.@@@@1@28@@oe@2-2-2013
20966016@unknown@formal@none@1@S@Mr. Meyer's personal style was illustrated by his pinning a $100 bill to a high-school bulletin board on which other coaches tacked their cards.@@@@1@24@@oe@2-2-2013
20966017@unknown@formal@none@1@S@One recruiter working with Mr. Meyer was so generous with $10 and $20 bills that prospects sang "Here Comes Santa Claus" when he approached.@@@@1@24@@oe@2-2-2013
20966018@unknown@formal@none@1@S@Paying players at SMU was no casual operation.@@@@1@8@@oe@2-2-2013
20966019@unknown@formal@none@1@S@It involved the athletics director, two different football coaching staffs, and school trustees and governors -- just about everybody, it seemed, but Donald Shields, the university's president.@@@@1@27@@oe@2-2-2013
20966020@unknown@formal@none@1@S@There's a memorable passage in which Mr. Shields, having finally learned of the practice, expresses his outrage to Bill Clements, then a university governor (and now the governor of Texas!) and oil man Edwin Cox, chairman of the board of trustees.@@@@1@41@@oe@2-2-2013
20966021@unknown@formal@none@1@S@"You stay out of it," author Whitford quotes Mr. Clements as saying.@@@@1@12@@oe@2-2-2013
20966022@unknown@formal@none@1@S@"Go run the university."@@@@1@4@@oe@2-2-2013
20966023@unknown@formal@none@1@S@Which was about what Mr. Shields did, and quietly, until he resigned a few years later, pleading ill health, when the stuff hit the fan.@@@@1@25@@oe@2-2-2013
20966024@unknown@formal@none@1@S@Mr. Whitford drew on voluminous news media coverage of the SMU scandal, and on a university internal investigation.@@@@1@18@@oe@2-2-2013
20966025@unknown@formal@none@1@S@Mr. Keteyian had to do most of his own digging on University of Nebraska football, which is, to date, high and dry as far as the NCAA is concerned.@@@@1@29@@oe@2-2-2013
20966026@unknown@formal@none@1@S@Unfortunately, he gets low grades as an investigative reporter, relying heavily on what Chicago's late mayor, Richard J. Daley, called "insinuendo."@@@@1@21@@oe@2-2-2013
20966027@unknown@formal@none@1@S@Discrepancies go unexplained in "Confidential" (one ex-player claims he received $4,000 to $5,000 for his season football tickets while others said theirs brought only a few hundred dollars), and when Mr. Keteyian can't nail down something, like who really owned a car driven by Husker tailback Doug Dubose, he simply reprints his notes.@@@@1@53@@oe@2-2-2013
20966028@unknown@formal@none@1@S@There are gratuitous references to supposed romantic liaisons between Husker players and a low-level female university employee.@@@@1@17@@oe@2-2-2013
20966029@unknown@formal@none@1@S@A serious charge -- that star flanker Irving Fryar "threw" the 1984 Orange Bowl game by intentionally dropping a pass in the end zone -- is included, even though the Nebraska assistant coach quoted denied making it.@@@@1@37@@oe@2-2-2013
20966030@unknown@formal@none@1@S@Still, the book produces more smoke than a smoldering sofa, along with a few flames, especially concerning the use of steroids.@@@@1@21@@oe@2-2-2013
20966031@unknown@formal@none@1@S@Dean Steinkuhler, a spectacularly bulked-up former lineman, confesses that he used 'em, and says other Huskers did too.@@@@1@18@@oe@2-2-2013
20966032@unknown@formal@none@1@S@It's a mystery how this could have escaped the notice of Nebraska coaches.@@@@1@13@@oe@2-2-2013
20966033@unknown@formal@none@1@S@Probably, it didn't.@@@@1@3@@oe@2-2-2013
20966034@unknown@formal@none@1@S@"Never Too Young" is a different sort of work, focusing on the 1986 death from cocaine ingestion of Bias, a University of Maryland basketball star ticketed for sure pro stardom.@@@@1@30@@oe@2-2-2013
20966035@unknown@formal@none@1@S@While the university was no more to blame for that than for the similar fate of any other student, it must bear responsibility for its conduct in the aftermath.@@@@1@29@@oe@2-2-2013
20966036@unknown@formal@none@1@S@Bias's coach, Lefty Driesell, ordered the room in which Bias died to be cleaned before the police could arrive (the order wasn't carried out), and the school's athletics director issued false information about the academic standing of Bias and other players.@@@@1@41@@oe@2-2-2013
20966037@unknown@formal@none@1@S@Those, of course, were the responses of people with something to hide.@@@@1@12@@oe@2-2-2013
20966038@unknown@formal@none@1@S@One wonders how other college athletic officials would behave under the same circumstances.@@@@1@13@@oe@2-2-2013
20966039@unknown@formal@none@1@S@Tomorrow's "On Sports" column will look at another aspect of the college sports mess.@@@@1@14@@oe@2-2-2013
20967001@unknown@formal@none@1@S@Mercedes-Benz of North America Inc., a unit of Daimler-Benz AG, paid Massachusetts $9.1 million in taxes, bringing to an end a 10-month-long corporate tax chase.@@@@1@25@@oe@2-2-2013
20967002@unknown@formal@none@1@S@Officials at the Department of Revenue had dogged the foreign car maker for taxes owed on business transactions and were proceeding to settle the dispute in court.@@@@1@27@@oe@2-2-2013
20967003@unknown@formal@none@1@S@But "the check arrived in the mail," said Stephen Kidder, Massachusetts Commissioner of Revenue.@@@@1@14@@oe@2-2-2013
20967004@unknown@formal@none@1@S@Mercedes-Benz, which had said it didn't owe taxes to Massachusetts partly because it sells its cars at a dock in Baltimore and not in Massachusetts, didn't explain its change of heart.@@@@1@31@@oe@2-2-2013
20967005@unknown@formal@none@1@S@Last month, Mercedes-Benz executives approached state revenue officials complaining about bad press, the commissioner said.@@@@1@15@@oe@2-2-2013
20967006@unknown@formal@none@1@S@The dispute was the subject of a Wall Street Journal article in August.@@@@1@13@@oe@2-2-2013
20967007@unknown@formal@none@1@S@The amount covers taxes, interest and penalties owed from 1966, when the state began collecting corporate taxes, to 1985.@@@@1@19@@oe@2-2-2013
20967008@unknown@formal@none@1@S@Mercedes-Benz also agreed to pay taxes owed for the years 1986 through 1988, Mr. Kidder added.@@@@1@16@@oe@2-2-2013
20967009@unknown@formal@none@1@S@Under Massachusetts tax laws, corporations must pay 9.5% of estimated profits resulting from business transactions in the state if the company conducts a variety of non-sales activities, including warranties, customer complaints and relations with independent dealerships.@@@@1@36@@oe@2-2-2013
20968001@unknown@formal@none@1@S@National Convenience Stores Inc., trying to shake the doldrums in the convenience-store business, said it will rearrange the merchandise in all of its stores in the next 18 months to cater better to the neighborhoods around its stores.@@@@1@38@@oe@2-2-2013
20968002@unknown@formal@none@1@S@As part of the plan, the Houston-based company's 1,100 Stop 'N Go stores will be refocused to target black, Hispanic, upscale or core middle-class customers.@@@@1@25@@oe@2-2-2013
20968003@unknown@formal@none@1@S@Stores in upper-income neighborhoods, for instance, will carry high-priced wines, publications such as Vanity Fair, gourmet pasta sauces, oat bran cereals and Weight Watchers and Pritikin products.@@@@1@27@@oe@2-2-2013
20968004@unknown@formal@none@1@S@Stores in Hispanic areas will stock an assortment of Spanish-language magazines, Mexican cooking items and candies.@@@@1@16@@oe@2-2-2013
20968005@unknown@formal@none@1@S@Stores in the company's core middle-class market will get more frozen and quick-to-prepare foods and a greater selection of bottled water.@@@@1@21@@oe@2-2-2013
20968006@unknown@formal@none@1@S@V.H. Van Horn, National Convenience president and chief executive officer, said the move reflects the company's realization that the industry's poor performance stems from its failure to give customers what they want -- rather than from increasing competition from gasoline stations and 24-hour grocery stores.@@@@1@45@@oe@2-2-2013
20968007@unknown@formal@none@1@S@"Convenience store merchandise has not kept pace with current trends in consumer preferences," he said in a speech at the company's annual shareholders meeting.@@@@1@24@@oe@2-2-2013
20968008@unknown@formal@none@1@S@Analysts and competitors said the move reflects a growing need by the stores to expand their customer base beyond the traditional blue-collar worker who pops into a convenience store for a sandwich, cigarettes, soda or beer.@@@@1@36@@oe@2-2-2013
20968009@unknown@formal@none@1@S@"There are an increasing number of people out there who are time-poor," said Chris Vroom, retail analyst with Alex. Brown & Sons of Baltimore.@@@@1@24@@oe@2-2-2013
20968010@unknown@formal@none@1@S@"Those are primarily white-collar workers, a customer segment that has historically proved elusive for convenience stores."@@@@1@16@@oe@2-2-2013
20968011@unknown@formal@none@1@S@National Convenience's move is likely to be echoed by other chains, though analysts note that Southland Corp., owner of 7-Eleven stores, and Circle K Corp. are too debt-heavy to roll out such an extensive effort.@@@@1@35@@oe@2-2-2013
20968012@unknown@formal@none@1@S@Still, Southland said that its franchisees have been targeting their merchandise to their customers for years, and that the company has begun to follow suit.@@@@1@25@@oe@2-2-2013
20968013@unknown@formal@none@1@S@For instance, Southland has expanded its bottled water selection in some stores and added fresh sandwiches in some outlets.@@@@1@19@@oe@2-2-2013
20968014@unknown@formal@none@1@S@Several months ago, it also added black health and beauty aids displays to many stores, a spokeswoman said.@@@@1@18@@oe@2-2-2013
20968015@unknown@formal@none@1@S@"We certainly see an increasing trend toward that," she added.@@@@1@10@@oe@2-2-2013
20968016@unknown@formal@none@1@S@National Convenience said it has tested its new merchandise mix in 100 stores, with favorable results.@@@@1@16@@oe@2-2-2013
20968017@unknown@formal@none@1@S@Analysts said the company's effort will be helped by its decision last year to put point-of-sale scanners in 200 stores, allowing National Convenience to quickly track items that are selling and those that aren't.@@@@1@34@@oe@2-2-2013
20968018@unknown@formal@none@1@S@To promote its new strategy, National Convenience said it plans to spend about $12 million on advertising for the year ending June 30, up from about $10 million in fiscal 1989.@@@@1@31@@oe@2-2-2013
20969001@unknown@formal@none@1@S@Labor Secretary Elizabeth Dole named a mediator to help resolve the lengthy labor dispute between the United Mine Workers and Pittston Co.@@@@1@22@@oe@2-2-2013
20969002@unknown@formal@none@1@S@W.J. Usery Jr., labor secretary during the Ford administration, was named to mediate talks to settle the six-month strike by the UMW.@@@@1@22@@oe@2-2-2013
20969003@unknown@formal@none@1@S@Previous talks between Pittston, of Greenwich, Conn., and the union have been sporadic and unsuccessful.@@@@1@15@@oe@2-2-2013
20969004@unknown@formal@none@1@S@The union called the strike in April after Pittston refused to sign the UMW's national labor pact.@@@@1@17@@oe@2-2-2013
20969005@unknown@formal@none@1@S@Pittston seeks changes in health and pension benefits, among other things.@@@@1@11@@oe@2-2-2013
20969006@unknown@formal@none@1@S@No schedule for formal talks was set, but meetings are expected to begin soon.@@@@1@14@@oe@2-2-2013
20970001@unknown@formal@none@1@S@One day after Delmed Inc. made top management changes and disclosed the end of an important business tie, its stock didn't trade and the company forecast a "significant" drop next year in sales of its core product.@@@@1@37@@oe@2-2-2013
20970002@unknown@formal@none@1@S@That disclosure came, a Delmed spokeswoman said, after the American Stock Exchange alerted the company that trading wouldn't resume in its stock until additional information about developments was provided.@@@@1@29@@oe@2-2-2013
20970003@unknown@formal@none@1@S@In addition to the forecast, the company also said it is examining potential cost cuts and reductions in overhead.@@@@1@19@@oe@2-2-2013
20970004@unknown@formal@none@1@S@The spokeswoman said the exchange would resume trading of Delmed stock today.@@@@1@12@@oe@2-2-2013
20970005@unknown@formal@none@1@S@Delmed, which makes and sells peritoneal dialysis products used in treating kidney disease, on Tuesday announced the resignations of Robert S. Ehrlich, chairman, president and chief executive officer, and of Leslie I. Shapiro, chief operating officer and chief financial officer.@@@@1@40@@oe@2-2-2013
20970006@unknown@formal@none@1@S@They were succeeded by executives of Fresenius USA Inc. and its parent, Fresenius AG, which owns about 45% of Delmed.@@@@1@20@@oe@2-2-2013
20970007@unknown@formal@none@1@S@At the same time, the New Brunswick, N.J., company said negotiations about pricing and volumes of product had collapsed between it and its exclusive distributor in the U.S., National Medical Care Inc.@@@@1@32@@oe@2-2-2013
20970008@unknown@formal@none@1@S@Following that announcement Tuesday, however, company officials were unavailable to elaborate.@@@@1@11@@oe@2-2-2013
20970009@unknown@formal@none@1@S@Yesterday, the spokeswoman said sales of Delmed products through the exclusive arrangement with National Medical accounted for 87% of Delmed's 1988 sales of $21.1 million.@@@@1@25@@oe@2-2-2013
20970010@unknown@formal@none@1@S@The current distribution arrangement ends in March 1990, although Delmed said it will continue to provide some supplies of the peritoneal dialysis products to National Medical, the spokeswoman said.@@@@1@29@@oe@2-2-2013
20970011@unknown@formal@none@1@S@Nonetheless, "Delmed currently expects that 1990 sales . . . will be significantly below their 1989 level," the company said in a statement.@@@@1@23@@oe@2-2-2013
20970012@unknown@formal@none@1@S@Delmed said yesterday that Fresenius USA would begin distributing the product and that the company is investigating other possible distribution channels.@@@@1@21@@oe@2-2-2013
20970013@unknown@formal@none@1@S@In any case, supplies to patients won't be interrupted, the company added.@@@@1@12@@oe@2-2-2013
20970014@unknown@formal@none@1@S@Fresenius, a West German pharmaceutical concern, has been discussing a transaction in which it would buy Delmed stock for cash to bring its beneficial ownership to between 70% and 80%.@@@@1@30@@oe@2-2-2013
20970015@unknown@formal@none@1@S@The transaction also would combine Fresenius USA and Delmed.@@@@1@9@@oe@2-2-2013
20970016@unknown@formal@none@1@S@But the plan now is being "reformulated," Delmed said, declining to provide most of the new terms of the combination.@@@@1@20@@oe@2-2-2013
20970017@unknown@formal@none@1@S@Said the spokeswoman: "The whole structure has changed.@@@@1@8@@oe@2-2-2013
20970018@unknown@formal@none@1@S@The value of the company has changed."@@@@1@7@@oe@2-2-2013
20970019@unknown@formal@none@1@S@Delmed did say that the proposal still would infuse cash into Delmed but less than the $10 million originally expected.@@@@1@20@@oe@2-2-2013
20970020@unknown@formal@none@1@S@Delmed also would receive the North American rights to certain Fresenius AG products.@@@@1@13@@oe@2-2-2013
20970021@unknown@formal@none@1@S@Another option for Delmed, the company said, is that it could sell its plant in Ogden, Utah.@@@@1@17@@oe@2-2-2013
20970022@unknown@formal@none@1@S@It added that no discussions about such a sale are under way.@@@@1@12@@oe@2-2-2013
20971001@unknown@formal@none@1@S@Brooks Armored Car Service Inc. never wanted to get into money laundering.@@@@1@12@@oe@2-2-2013
20971002@unknown@formal@none@1@S@But July 5, a thunderstorm in Wilmington, Del., caused Shellpot Creek to rise 15 feet, pouring 1.3 million gallons of water into basement vaults.@@@@1@24@@oe@2-2-2013
20971003@unknown@formal@none@1@S@The water destroyed about $75 million in currency and caked $4 million of coins with mud, rendering them dangerous to counting machines.@@@@1@22@@oe@2-2-2013
20971004@unknown@formal@none@1@S@The $75 million in paper money, although moldy, mildewy and smelly, was exchanged through the Federal Reserve Bank of Philadelphia without incident.@@@@1@22@@oe@2-2-2013
20971005@unknown@formal@none@1@S@But Brooks was unable to reach a coin-cleaning agreement with the government.@@@@1@12@@oe@2-2-2013
20971006@unknown@formal@none@1@S@"We kind of got caught between bureaucracies," says President William F. Brooks Jr.@@@@1@13@@oe@2-2-2013
20971007@unknown@formal@none@1@S@The U.S. Mint wouldn't take the coin because it wasn't mutilated, and the Federal Reserve Bank accepts only clean coins, he says.@@@@1@22@@oe@2-2-2013
20971008@unknown@formal@none@1@S@The Philadelphia Fed says it is merely an "agent" for coins, responsible only for storage and distribution.@@@@1@17@@oe@2-2-2013
20971009@unknown@formal@none@1@S@"We issue paper money; we destroy paper money," says Jane Hinkle, a Philadelphia Fed spokeswoman.@@@@1@15@@oe@2-2-2013
20971010@unknown@formal@none@1@S@"The coin is their problem."@@@@1@5@@oe@2-2-2013
20971011@unknown@formal@none@1@S@A Mint official says the agency offered to clean the coins for its "bare-bones" cost of $17,000 plus certain other expenses.@@@@1@21@@oe@2-2-2013
20971012@unknown@formal@none@1@S@But Brooks declined, figuring that transporting the mucked up money to Washington would cost the company thousands more.@@@@1@18@@oe@2-2-2013
20971013@unknown@formal@none@1@S@So Brooks gave the dirty work to Coin Wrap Inc., which came up with an unusual solution.@@@@1@17@@oe@2-2-2013
20971014@unknown@formal@none@1@S@For eight hours a day for the past two weeks, in aggregates of as much as 27,000 pounds (equaling $20,000 in pennies), Coin Wrap has been pouring money into a cement-mixing truck.@@@@1@32@@oe@2-2-2013
20971015@unknown@formal@none@1@S@A giant heater, working like a blowtorch, causes the mud to crust and burns off any wrappers.@@@@1@17@@oe@2-2-2013
20971016@unknown@formal@none@1@S@After clanging around for an hour or so, the shiny, hot money pours out of the cement chute, where a giant vacuum sucks away the dried mud and burnt wrappers.@@@@1@30@@oe@2-2-2013
20971017@unknown@formal@none@1@S@After cooling, the coins are then rewrapped.@@@@1@7@@oe@2-2-2013
20971018@unknown@formal@none@1@S@Brooks expects to pay Coin Wrap a total of about $20,000 -- a cost that insurance won't cover.@@@@1@18@@oe@2-2-2013
20971019@unknown@formal@none@1@S@And while the job is half done, Brooks is still bitter.@@@@1@11@@oe@2-2-2013
20971020@unknown@formal@none@1@S@In fact, there's only one person involved who's happy, and that's Floyd String, president of Coin Wrap and conceiver of the cement-truck solution.@@@@1@23@@oe@2-2-2013
20971021@unknown@formal@none@1@S@Not only did his company find $20,000 worth of work, but when the approach was suggested, Mr. String says, Brooks officials "didn't laugh at me or anything.@@@@1@27@@oe@2-2-2013
20972001@unknown@formal@none@1@S@"Parenthood," this summer's successful and amusing movie about parents and children, apparently was only the beginning.@@@@1@16@@oe@2-2-2013
20972002@unknown@formal@none@1@S@It seems that every day a new movie opens featuring a child coping with a mother's death, or adoption, or aging parents, or pregnancy.@@@@1@24@@oe@2-2-2013
20972003@unknown@formal@none@1@S@And why not?@@@@1@3@@oe@2-2-2013
20972004@unknown@formal@none@1@S@Some of our best and most idiosyncratic film makers -- from Truffaut to Fellini to Woody Allen -- have taken a cue from Chekhov: When it comes to compelling drama, there's no place like home.@@@@1@35@@oe@2-2-2013
20972005@unknown@formal@none@1@S@Yet too many people working in Hollywood today seem to suffer from the delusion that the drama played out in every home will be interesting to people who live somewhere else.@@@@1@31@@oe@2-2-2013
20972006@unknown@formal@none@1@S@This is not the case.@@@@1@5@@oe@2-2-2013
20972007@unknown@formal@none@1@S@Some diaries simply aren't worth snooping in.@@@@1@7@@oe@2-2-2013
20972008@unknown@formal@none@1@S@Yet there will be people who will sob at "Immediate Family," a limply constructed and offensive movie about adoption.@@@@1@19@@oe@2-2-2013
20972009@unknown@formal@none@1@S@These are the sensitive souls who can empathize with and even enjoy hearing about other people's troubles, no matter how haltingly or predictably the sad tale is told.@@@@1@28@@oe@2-2-2013
20972010@unknown@formal@none@1@S@Written by Barbara Benedek, co-author of "The Big Chill," "Immediate Family" takes the position that only rich people living in nice houses should have children.@@@@1@25@@oe@2-2-2013
20972011@unknown@formal@none@1@S@The film makers have couched this offensive idea in pretty packaging.@@@@1@11@@oe@2-2-2013
20972012@unknown@formal@none@1@S@Everyone is very nice and good-looking -- the adoptive parents (Glenn Close and James Woods) and the teen-age couple who decide to give up their baby for adoption (Mary Stuart Masterson and Kevin Dillon).@@@@1@34@@oe@2-2-2013
20972013@unknown@formal@none@1@S@Linda and Michael (Ms. Close and Mr. Woods), who seem to be pushing 40, live in a large and tastefully decorated home in suburban Seattle.@@@@1@25@@oe@2-2-2013
20972014@unknown@formal@none@1@S@All of their friends have children and they can't, so now they want a child more than anything -- perhaps even more than Michael wanted his fancy convertible or his deluxe stereo equipment.@@@@1@33@@oe@2-2-2013
20972015@unknown@formal@none@1@S@The idea of a child-as-required-yuppie-possession must be motivating them, since the wealthy offspring of their friends are shown to be rude brats, in therapy by age five.@@@@1@27@@oe@2-2-2013
20972016@unknown@formal@none@1@S@Having exhausted all modern aids to fertility, Linda and Michael decide to adopt.@@@@1@13@@oe@2-2-2013
20972017@unknown@formal@none@1@S@The actors wear pained expressions to indicate their genuine longing for a little one -- or maybe they're not-so-subtly commenting on the inadequacy of the script, and Jonathan Kaplan's ("The Accused") dull direction.@@@@1@33@@oe@2-2-2013
20972018@unknown@formal@none@1@S@Or maybe they are disgusted by the literal-minded musical score; when a character arrives at a major decision her thoughts are revealed by the sound of "I Can See Clearly Now."@@@@1@31@@oe@2-2-2013
20972019@unknown@formal@none@1@S@The adoption agency insists on introducing the adopting parents to the birth mother, so Linda and Michael pay for pregnant Lucy's (Ms. Masterson) bus ticket from Ohio.@@@@1@27@@oe@2-2-2013
20972020@unknown@formal@none@1@S@(Why in these movies is the unwed pregnant woman always from Ohio?@@@@1@12@@oe@2-2-2013
20972021@unknown@formal@none@1@S@I ask this not necessarily as a native Ohioan.)@@@@1@9@@oe@2-2-2013
20972022@unknown@formal@none@1@S@Lucy, of course, is pretty and smart, though uneducated.@@@@1@9@@oe@2-2-2013
20972023@unknown@formal@none@1@S@Everyone falls in love with everyone else.@@@@1@7@@oe@2-2-2013
20972024@unknown@formal@none@1@S@There is some pain, when Lucy has the baby and "didn't know she would feel like this" and wants to keep the baby.@@@@1@23@@oe@2-2-2013
20972025@unknown@formal@none@1@S@But in the end, everything turns out for the best, in the film makers' warped view.@@@@1@16@@oe@2-2-2013
20972026@unknown@formal@none@1@S@Like lawyers in the hostile takeover field, the baby goes where the money is.@@@@1@14@@oe@2-2-2013
20972027@unknown@formal@none@1@S@At the other end of the life cycle is "Dad," Gary David Goldberg's adaptation of the William Wharton novel.@@@@1@19@@oe@2-2-2013
20972028@unknown@formal@none@1@S@This picture is about a middle-aged son who makes sure that his delayed bond with his father will last by waiting to cement it until just before the old man dies.@@@@1@31@@oe@2-2-2013
20972029@unknown@formal@none@1@S@The glib emotional style Mr. Goldberg has perfected on television's "Family Ties" doesn't benefit from magnification.@@@@1@16@@oe@2-2-2013
20972030@unknown@formal@none@1@S@His characters practically scamper through a vast range of human emotions, like travelers doing 10 cities in eight days.@@@@1@19@@oe@2-2-2013
20972031@unknown@formal@none@1@S@They pause only to register little whimpers of distress and sighs of satisfaction, like tourists cataloging the sights they've seen from the window of a bus.@@@@1@26@@oe@2-2-2013
20972032@unknown@formal@none@1@S@Not even Jack Lemmon's expert doddering makes this trip worth taking.@@@@1@11@@oe@2-2-2013
20972033@unknown@formal@none@1@S@So it's entirely possible that "Look Who's Talking" isn't as entertaining as it seems in comparison to the turgid other films opening now.@@@@1@23@@oe@2-2-2013
20972034@unknown@formal@none@1@S@But by comparison, this fluffy comedy seems like a gem.@@@@1@10@@oe@2-2-2013
20972035@unknown@formal@none@1@S@It starts with conception, taking the sperm's point of view, then progresses to the baby's point of view.@@@@1@18@@oe@2-2-2013
20972036@unknown@formal@none@1@S@Bruce Willis's best attribute as an actor is his coy, lazy voice, and that's all you get of him here, speaking for the baby.@@@@1@24@@oe@2-2-2013
20972037@unknown@formal@none@1@S@Finally, there is one family movie that quite eloquently explores the depth of human emotion -- only its stars are bears.@@@@1@21@@oe@2-2-2013
20972038@unknown@formal@none@1@S@For the second time, in a movie called "The Bear," French director Jean-Jacques Annaud demonstrates just how powerful pictures can be.@@@@1@21@@oe@2-2-2013
20972039@unknown@formal@none@1@S@("Quest for Fire" was the first time.)@@@@1@7@@oe@2-2-2013
20972040@unknown@formal@none@1@S@To be sure, one wonders what kind of man is this, who feels compelled to try to understand the most primitive longing and instinct in a way that requires the most sophisticated appreciation of visual storytelling.@@@@1@36@@oe@2-2-2013
20972041@unknown@formal@none@1@S@Supposedly, he proposed the movie to his producer, Claude Berri, in four lines:@@@@1@13@@oe@2-2-2013
20972042@unknown@formal@none@1@S@"An orphan bear cub.@@@@1@4@@oe@2-2-2013
20972043@unknown@formal@none@1@S@A big solitary bear.@@@@1@4@@oe@2-2-2013
20972044@unknown@formal@none@1@S@Two hunters in the forest.@@@@1@5@@oe@2-2-2013
20972045@unknown@formal@none@1@S@The animals' point of view."@@@@1@5@@oe@2-2-2013
20972046@unknown@formal@none@1@S@But then, even a great many words couldn't summarize the extraordinary pull of this movie about an orphaned bear who adopts a parent.@@@@1@23@@oe@2-2-2013
20972047@unknown@formal@none@1@S@Video Tip:@@@@1@2@@oe@2-2-2013
20972048@unknown@formal@none@1@S@One of the best movies about the child-parent thing in recent years was "Raising Arizona," the 1987 Coen brothers' comedy that definitely was not about the folks next door.@@@@1@29@@oe@2-2-2013
20973001@unknown@formal@none@1@S@Westinghouse Electric Corp., capitalizing on a major restructuring program, expects operating margins of more than 10% and double-digit per-share earnings growth next year, top officers told securities analysts here.@@@@1@29@@oe@2-2-2013
20973002@unknown@formal@none@1@S@John C. Marous, chairman and chief executive officer, also said the company expects sales from continuing businesses to rise 8.5% annually through the next three years.@@@@1@26@@oe@2-2-2013
20973003@unknown@formal@none@1@S@In 1988, the company earned $822.8 million, or $5.66 a share, on sales of $12.49 billion.@@@@1@16@@oe@2-2-2013
20973004@unknown@formal@none@1@S@Since 1983, Westinghouse has shed 70 businesses that it didn't expect to produce 10% operating margins while acquiring 55 businesses.@@@@1@20@@oe@2-2-2013
20973005@unknown@formal@none@1@S@In the past 20 months alone, Paul E. Lego, president and chief operating officer, said the divestiture of $300 million of slow-growth, low-profit businesses has been more than offset by $600 million in profitable acquisitions.@@@@1@35@@oe@2-2-2013
20973006@unknown@formal@none@1@S@Westinghouse expects to meet its corporate goals despite a softening in the economy.@@@@1@13@@oe@2-2-2013
20973007@unknown@formal@none@1@S@Even if the gross national product is either flat or in the growth range of 2% to 2.5%, "we can handle that," Mr. Marous said.@@@@1@25@@oe@2-2-2013
20973008@unknown@formal@none@1@S@GNP is the total value of the nation's output of goods and services.@@@@1@13@@oe@2-2-2013
20973009@unknown@formal@none@1@S@A bright spot is the company's power-generation business, which is experiencing a surge of growth for the first time in years.@@@@1@21@@oe@2-2-2013
20973010@unknown@formal@none@1@S@Mr. Marous said the business will achieve higher sales this year than the company's target goal of 8.5%.@@@@1@18@@oe@2-2-2013
20973011@unknown@formal@none@1@S@While Westinghouse hasn't had a nuclear power plant order from a U.S. utility in about a decade, excess capacity is beginning to shrink.@@@@1@23@@oe@2-2-2013
20973012@unknown@formal@none@1@S@Mr. Lego said the company foresees the need for a major boost in new-generation capability throughout the 1990s.@@@@1@18@@oe@2-2-2013
20973013@unknown@formal@none@1@S@Westinghouse also is well positioned to sell steam turbine and gas turbine plants to independent power producers.@@@@1@17@@oe@2-2-2013
20973014@unknown@formal@none@1@S@The company's ability to respond to energy needs world-wide will be enhanced through a recently announced venture with Mitsubishi Heavy Industries, Mr. Lego said.@@@@1@24@@oe@2-2-2013
20973015@unknown@formal@none@1@S@He said the independent power segment could grow to provide as much as 50% of near-term generation capacity, adding: "We expect to supply a significant share of this market."@@@@1@29@@oe@2-2-2013
20973016@unknown@formal@none@1@S@Westinghouse also expects its international sales to soon grow to 25% of total corporate sales from 20% last year.@@@@1@19@@oe@2-2-2013
20973017@unknown@formal@none@1@S@The company is negotiating with the Soviets to build a Thermo King truck-refrigeration plant that would produce about 10,000 units annually.@@@@1@21@@oe@2-2-2013
20973018@unknown@formal@none@1@S@Mr. Marous said Westinghouse would own 70% of the facility.@@@@1@10@@oe@2-2-2013
20973019@unknown@formal@none@1@S@The deal, which will involve an initial $20 million investment, was struck with a handshake, he added.@@@@1@17@@oe@2-2-2013
20973020@unknown@formal@none@1@S@Company officials also said that any gain from the sale of Westinghouse's 55% stake in its transmission and distribution venture with the Swiss firm of Asea Brown Boveri will be offset by a restructuring charge in the fourth quarter.@@@@1@39@@oe@2-2-2013
20973021@unknown@formal@none@1@S@The executives didn't disclose the size of the expected gain.@@@@1@10@@oe@2-2-2013
20973022@unknown@formal@none@1@S@Capital expenditure in 1990 will rise slightly, Mr. Marous said, from an estimated $470 million this year.@@@@1@17@@oe@2-2-2013
20974001@unknown@formal@none@1@S@SHORT INTEREST in International Mobile Machines Corp. fell to 3,102,935 shares in the month ended Oct. 13 from 3,420,936 in September.@@@@1@21@@oe@2-2-2013
20974002@unknown@formal@none@1@S@Because of an error by the National Association of Securities Dealers, the listing appeared incorrectly in the main table and several highlight tables in yesterday's edition.@@@@1@26@@oe@2-2-2013
20975001@unknown@formal@none@1@S@A proposed conflict-of-interest policy for federally funded biomedical researchers may thwart many high-technology new ventures, say financiers, researchers and university administrators.@@@@1@21@@oe@2-2-2013
20975002@unknown@formal@none@1@S@The National Institutes of Health policy would require researchers to cut financial ties with health-care businesses -- or lose their government money.@@@@1@22@@oe@2-2-2013
20975003@unknown@formal@none@1@S@Among other concerns, the agency says researchers with business ties are more likely to falsify findings in order to tout new drugs.@@@@1@22@@oe@2-2-2013
20975004@unknown@formal@none@1@S@As ties between academia and venture capital have blossomed in recent years, governmental fear of abuse has risen.@@@@1@18@@oe@2-2-2013
20975005@unknown@formal@none@1@S@But the guidelines could "make it impossible to commercialize research," says Kenneth Smith, associate provost and vice president for research at Massachusetts Institute of Technology.@@@@1@25@@oe@2-2-2013
20975006@unknown@formal@none@1@S@The NIH is asking grant recipients and others for comments on the proposed guidelines until Dec. 15.@@@@1@17@@oe@2-2-2013
20975007@unknown@formal@none@1@S@After that, it will make a final decision on the policy.@@@@1@11@@oe@2-2-2013
20975008@unknown@formal@none@1@S@The guidelines could foil future arrangements similar to the deal behind Lithox Inc., a Salem, Mass., start-up, says Robert Daly, a managing partner of TA Associates, a venture-capital firm.@@@@1@29@@oe@2-2-2013
20975009@unknown@formal@none@1@S@With $2.3 million, he and other investors launched Lithox last year to market a gallstone cure being developed by researchers of the University of California at San Diego.@@@@1@28@@oe@2-2-2013
20975010@unknown@formal@none@1@S@The researchers, who are being financed by the Lithox funds, will receive a royalty, or percentage of sales, if their research yields a commercial product.@@@@1@25@@oe@2-2-2013
20975011@unknown@formal@none@1@S@But because the University of California, like many other universities, shares its royalties with researchers, it may disqualify itself from federal funds under the proposed guidelines, Mr. Daly says.@@@@1@29@@oe@2-2-2013
20975012@unknown@formal@none@1@S@The high-tech industry is full of the kind of arrangement that the new guidelines would affect.@@@@1@16@@oe@2-2-2013
20975013@unknown@formal@none@1@S@For instance, Commonwealth BioVentures Inc., a venture-capital concern, last month invested $600,000 to launch Amira Inc., a Worcester, Mass., concern that will produce pharmaceuticals.@@@@1@24@@oe@2-2-2013
20975014@unknown@formal@none@1@S@Scientists Rima Kaddurah-Daouk and Paul Schimmel conducted the initial research at the Massachusetts Institute of Technology.@@@@1@16@@oe@2-2-2013
20975015@unknown@formal@none@1@S@While Ms. Kaddurah-Daouk left MIT to head Amira, Prof. Schimmel will continue to work at MIT, serve on Amira's board and own a small equity stake in the company.@@@@1@29@@oe@2-2-2013
20975016@unknown@formal@none@1@S@The Amira transaction is typical of the way venture-capital firms are approaching the task of commercializing biotechnology research.@@@@1@18@@oe@2-2-2013
20975017@unknown@formal@none@1@S@While universities develop the basic research, "venture capitalists are the ones best positioned to finance its commercialization," says Gloria W. Doubleday of Commonwealth.@@@@1@23@@oe@2-2-2013
20975018@unknown@formal@none@1@S@"This is the best way to transfer technology straight off the campuses of universities."@@@@1@14@@oe@2-2-2013
20975019@unknown@formal@none@1@S@But the new guidelines could prevent scientists like Prof. Schimmel from being involved with start-ups such as Amira, venture capitalists point out.@@@@1@22@@oe@2-2-2013
20975020@unknown@formal@none@1@S@And if that happens, the entire process of transferring technology to the marketplace could be harmed, they say.@@@@1@18@@oe@2-2-2013
20975021@unknown@formal@none@1@S@The stakes in the controversy are large.@@@@1@7@@oe@2-2-2013
20975022@unknown@formal@none@1@S@Last year, venture capitalists spent an estimated $600 million to finance start-up companies in medical and biotechnology businesses, according to the National Venture Capital Association, a trade group.@@@@1@28@@oe@2-2-2013
20975023@unknown@formal@none@1@S@Many of the deals involved transactions in which scientific institutions or researchers agreed to commercialize their work in return for an equity stake or royalties.@@@@1@25@@oe@2-2-2013
20975024@unknown@formal@none@1@S@In many of these deals, "venture capitalists had the inside track," says Lawrence Bock of Avalon Ventures, La Jolla, Calif.@@@@1@20@@oe@2-2-2013
20975025@unknown@formal@none@1@S@Investors were willing to gamble on new technologies because "we had exclusive rights to those technologies," he adds.@@@@1@18@@oe@2-2-2013
20975026@unknown@formal@none@1@S@But under the proposed guidelines, all federally funded research will have to be reported publicly so that anyone can capitalize on the work.@@@@1@23@@oe@2-2-2013
20975027@unknown@formal@none@1@S@"Without the exclusivity, most venture capitalists won't have the incentive to invest in such deals," Mr. Bock says.@@@@1@18@@oe@2-2-2013
20975028@unknown@formal@none@1@S@Last year, for example, Avalon and others invested $14 million in Athena Neurosciences Inc., South San Francisco, Calif., to license and develop technology for delivery of drugs to the brain.@@@@1@30@@oe@2-2-2013
20975029@unknown@formal@none@1@S@But before Athena was able to get an exclusive license to the technology, the Federal Register published most of the details, "giving all of the company's potential competitors a chance to exploit it," Mr. Bock says.@@@@1@36@@oe@2-2-2013
20975030@unknown@formal@none@1@S@Athena eventually acquired exclusive rights to the technology and currently is developing it.@@@@1@13@@oe@2-2-2013
20975031@unknown@formal@none@1@S@But, says Mr. Bock, "It was a close call."@@@@1@9@@oe@2-2-2013
20975032@unknown@formal@none@1@S@The proposed guidelines could also delay commercialization -- and force small companies to waste scarce capital, entrepreneurs say.@@@@1@18@@oe@2-2-2013
20975033@unknown@formal@none@1@S@If start-ups can't have early access to research being conducted at institutions, "we have to replicate it ourselves or do without the research," says Ruth Emyanitoff, manager of business development at Applied bioTechnology Inc., a Cambridge, Mass., concern.@@@@1@38@@oe@2-2-2013
20975034@unknown@formal@none@1@S@Duplicating research is both costly and time-consuming for a start-up, Ms. Emyanitoff says.@@@@1@13@@oe@2-2-2013
20975035@unknown@formal@none@1@S@For its part, NIH insists that its guidelines "should not stifle research creativity or technology transfer from the research laboratory to commercial use."@@@@1@23@@oe@2-2-2013
20975036@unknown@formal@none@1@S@Universities such as Harvard and MIT should be able to develop a way to act as brokers for the individual scientists, says Katherine Bick, who oversees the huge NIH grants program as its deputy director for extramural research.@@@@1@38@@oe@2-2-2013
20975037@unknown@formal@none@1@S@NIH staff members believe the guidelines are essential to prevent the escalation of problems that have already begun to surface in scientific ventures.@@@@1@23@@oe@2-2-2013
20975038@unknown@formal@none@1@S@Not long ago, scientists holding stock in Spectra Pharmaceutical Services Inc. were accused of falsifying research to boost the stock.@@@@1@20@@oe@2-2-2013
20975039@unknown@formal@none@1@S@Many officials are also concerned about companies getting a "free ride" on government-sponsored research.@@@@1@14@@oe@2-2-2013
20975040@unknown@formal@none@1@S@A congressional subcommitee has been investigating the potential abuse from researchers holding stock in companies exploiting their research.@@@@1@18@@oe@2-2-2013
20975041@unknown@formal@none@1@S@Among other provisions, the NIH guidelines would prohibit researchers and members of their immediate families from holding stock in any company that is affected by the outcome of their research.@@@@1@30@@oe@2-2-2013
20975042@unknown@formal@none@1@S@Ms. Bick, the NIH administrator, says the business and scientific community is overreacting to what the agency merely meant to be "ideas for discussion."@@@@1@24@@oe@2-2-2013
20975043@unknown@formal@none@1@S@The predictions of doom are "premature," she says.@@@@1@8@@oe@2-2-2013
20975044@unknown@formal@none@1@S@But when agencies like the NIH circulate guidelines, they've often already formulated policy, veteran scientists say.@@@@1@16@@oe@2-2-2013
20975045@unknown@formal@none@1@S@Indeed, institutions already are taking note.@@@@1@6@@oe@2-2-2013
20975046@unknown@formal@none@1@S@On Sept. 14, Harvard began circulating a conflict-of-interest policy statement that, in effect, would follow the NIH guidelines faithfully.@@@@1@19@@oe@2-2-2013
20975047@unknown@formal@none@1@S@The University of California at San Francisco is also circulating a memo among its scientific faculty that will restrict contact with the world of business.@@@@1@25@@oe@2-2-2013
20975048@unknown@formal@none@1@S@In many other institutions, scientists are shunning contacts with venture investors until the NIH policy is settled.@@@@1@17@@oe@2-2-2013
20975049@unknown@formal@none@1@S@Says Mr. Daly, the venture capitalist: "It doesn't matter whether they call it guidelines or policy.@@@@1@16@@oe@2-2-2013
20975050@unknown@formal@none@1@S@The damage is already done.@@@@1@5@@oe@2-2-2013
20976001@unknown@formal@none@1@S@Friday, Oct. 27, 9 p.m.-midnight EDT, on PBS (PBS air dates and times vary, so check local listings): "Show Boat."@@@@1@20@@oe@2-2-2013
20976002@unknown@formal@none@1@S@New Jersey's Paper Mill Playhouse produced this faithful revival of America's most influential musical, written by Jerome Kern and Oscar Hammerstein and first produced on Broadway in 1927.@@@@1@28@@oe@2-2-2013
20976003@unknown@formal@none@1@S@Worth watching, although the music has lasted better than the plot or the humor.@@@@1@14@@oe@2-2-2013
20976004@unknown@formal@none@1@S@Saturday, Oct. 28, 8-10 p.m. EDT, on HBO (repeated Oct. 31, Nov. 5, 8, 14, 16 and 20): "Perfect Witness."@@@@1@20@@oe@2-2-2013
20976005@unknown@formal@none@1@S@Aidan Quinn, Brian Dennehy and Stockard Channing are excellent in this gripping tale of a reluctant witness in an organized crime prosecution.@@@@1@22@@oe@2-2-2013
20976006@unknown@formal@none@1@S@It's set in New York, but it resonates with the terrible dynamics of the Latin American drug wars.@@@@1@18@@oe@2-2-2013
20976007@unknown@formal@none@1@S@Sunday, Oct. 29, 8-11 p.m. EST, on ABC: "The Final Days."@@@@1@11@@oe@2-2-2013
20976008@unknown@formal@none@1@S@No doubt there is something to irk everyone in this AT&T-sponsored dramatization of Bob Woodward and Carl Bernstein's book about Watergate.@@@@1@21@@oe@2-2-2013
20976009@unknown@formal@none@1@S@Personally, I'm irked by its combination of ponderousness and timidity, which adds up to an utter lack of drama.@@@@1@19@@oe@2-2-2013
20976010@unknown@formal@none@1@S@Sunday, Oct. 29, 10-11 p.m. EST, on Showtime (repeated Nov. 2, 6, 11 and 15): "The Strange Case of Dr. Jekyll and Mr. Hyde."@@@@1@24@@oe@2-2-2013
20976011@unknown@formal@none@1@S@Fans of Anthony Andrews ("Brideshead Revisited") will relish watching him play the title role(s) in the 19th-century Robert Louis Stevenson pre-Freudian drama of schizoid horror.@@@@1@25@@oe@2-2-2013
20976012@unknown@formal@none@1@S@Monday, Oct. 30, 10-11 p.m. EST, on PBS: "Journey Into Sleep."@@@@1@11@@oe@2-2-2013
20976013@unknown@formal@none@1@S@I promise you will stay awake through this intriguing documentary about the science of sleep.@@@@1@15@@oe@2-2-2013
20976014@unknown@formal@none@1@S@Wednesday, Nov. 1, 9-10:30 p.m. EST, on PBS: "Thomas Hart Benton."@@@@1@11@@oe@2-2-2013
20976015@unknown@formal@none@1@S@Critical opinion is divided about the success of Benton's populist defiance of modernist art.@@@@1@14@@oe@2-2-2013
20976016@unknown@formal@none@1@S@But no one could disagree that Ken Burns has made a fascinating film about this famous American painter.@@@@1@18@@oe@2-2-2013
20976017@unknown@formal@none@1@S@Thursday, Nov. 2, 9-10 p.m. EST, on A&E (repeated at 1 a.m. and on Nov. 5): "Third and Oak: The Pool Hall."@@@@1@22@@oe@2-2-2013
20976018@unknown@formal@none@1@S@A one-acter by the Pulitzer Prize-winning playwright Marsha Norman is the first presentation in a new series called "American Playwrights Theater," sponsored by General Motors.@@@@1@25@@oe@2-2-2013
20976019@unknown@formal@none@1@S@James Earl Jones and Mario Van Peebles carry out a bitter intergenerational dialogue between two black men.@@@@1@17@@oe@2-2-2013
20976020@unknown@formal@none@1@S@Thursdays, Nov. 2-23, 10-11 p.m. EST, on PBS: "Taiwan: The Other China."@@@@1@12@@oe@2-2-2013
20976021@unknown@formal@none@1@S@Judy Woodruff hosts this handsome four-part series about the history, economy, culture and politics of the island home of Chinese democracy and capitalism.@@@@1@23@@oe@2-2-2013
20976022@unknown@formal@none@1@S@Friday, Nov. 3, 9-11 p.m. EST, on PBS: "Our Town."@@@@1@10@@oe@2-2-2013
20976023@unknown@formal@none@1@S@Along with "Show Boat," "Great Performances" kicks off its new season with this Lincoln Center production of Thornton Wilder's best known play, in which the role of the small-town Stage Manager is given a hip twist by performance artist Spalding Gray.@@@@1@41@@oe@2-2-2013
20976024@unknown@formal@none@1@S@Saturday, Nov. 4, 1:30-6 p.m. EST, on NBC: Breeder's Cup Day.@@@@1@11@@oe@2-2-2013
20976025@unknown@formal@none@1@S@Polished hooves, fancy turf, fat purses -- the horse race of the year.@@@@1@13@@oe@2-2-2013
20976026@unknown@formal@none@1@S@Sunday, Nov. 5, 10:30 a.m.-1:30 p.m. EST, on ABC: New York City Marathon.@@@@1@13@@oe@2-2-2013
20976027@unknown@formal@none@1@S@Shiny Nikes, cracked cement, media glory -- the foot race of the year.@@@@1@13@@oe@2-2-2013
20976028@unknown@formal@none@1@S@Sunday, Nov. 5, 8-9 p.m. EST, on TNT: "Gary Cooper: American Life, American Legend."@@@@1@14@@oe@2-2-2013
20976029@unknown@formal@none@1@S@I've seen a great many moviestar film portraits, and this one is outstanding.@@@@1@13@@oe@2-2-2013
20976030@unknown@formal@none@1@S@Sundays, Nov. 5-12, 9-10:30 p.m. EST, on PBS: "Glory Enough for All."@@@@1@12@@oe@2-2-2013
20976031@unknown@formal@none@1@S@Can "Masterpiece Theatre" make a compelling human story out of the discovery of insulin?@@@@1@14@@oe@2-2-2013
20976032@unknown@formal@none@1@S@This earthy, amusing film answers with a resounding "yes."@@@@1@9@@oe@2-2-2013
20976033@unknown@formal@none@1@S@Sunday and Monday, Nov. 5 and 6, 9-11 p.m. EST, on NBC: "Cross of Fire."@@@@1@15@@oe@2-2-2013
20976034@unknown@formal@none@1@S@The Ku Klux Klan was revived in the 1920s as a national organization aimed at Catholics and Jews as well as blacks.@@@@1@22@@oe@2-2-2013
20976035@unknown@formal@none@1@S@One reason for its downfall was the murder trial of D.C. Stephenson, an Indiana leader whose reckless career is depicted in this film starring Mel Harris ("thirtysomething") and John Heard.@@@@1@30@@oe@2-2-2013
20976036@unknown@formal@none@1@S@Tuesday, Nov. 7, 8-9 p.m. EST, on PBS: "Hurricane!"@@@@1@9@@oe@2-2-2013
20976037@unknown@formal@none@1@S@Has the San Francisco earthquake caused you to forget Hugo?@@@@1@10@@oe@2-2-2013
20976038@unknown@formal@none@1@S@You'll remember when you see the stunning footage taken from inside a hurricane's eye, in this edition of "NOVA.@@@@1@19@@oe@2-2-2013
20977001@unknown@formal@none@1@S@Merksamer Jewelers Inc., a fast-growing jewelry store chain, filed for Chapter 11 bankruptcy-law protection from creditors, apparently to speed a management buy-out of the chain.@@@@1@25@@oe@2-2-2013
20977002@unknown@formal@none@1@S@The filing, made yesterday in U.S. Bankruptcy Court here, follows an agreement by L.J. Hooker Corp., Merksamer's owner, to sell the chain to management for an undisclosed price.@@@@1@28@@oe@2-2-2013
20977003@unknown@formal@none@1@S@GE Capital Corp., a financial services subsidiary of General Electric Co., is providing Merksamer management with $15 million in financing.@@@@1@20@@oe@2-2-2013
20977004@unknown@formal@none@1@S@L.J. Hooker, based in Atlanta, filed for Chapter 11 protection in August and has also announced its intention to sell its B. Altman & Co. department store chain.@@@@1@28@@oe@2-2-2013
20977005@unknown@formal@none@1@S@L.J. Hooker is owned by Hooker Corp., Sydney, Australia, which itself is currently being managed by a court-appointed provisional liquidator.@@@@1@20@@oe@2-2-2013
20977006@unknown@formal@none@1@S@L.J. Hooker's planned sale of Merksamer is subject to approval by Judge Tina Brozman of U.S. Bankruptcy Court.@@@@1@18@@oe@2-2-2013
20977007@unknown@formal@none@1@S@Rumors to the effect that the Merksamer chain would file for Chapter 11 arose last week in the jewelry industry.@@@@1@20@@oe@2-2-2013
20977008@unknown@formal@none@1@S@At that time, Sam Merksamer, president of the chain, angrily denied that his company was about to file.@@@@1@18@@oe@2-2-2013
20977009@unknown@formal@none@1@S@Mr. Merksamer is leading the buy-out.@@@@1@6@@oe@2-2-2013
20977010@unknown@formal@none@1@S@According to executives close to the situation, Merksamer filed for Chapter 11 to speed the sale of the chain.@@@@1@19@@oe@2-2-2013
20977011@unknown@formal@none@1@S@One executive said an accord signed by the unsecured creditors of L.J. Hooker Corp. had frozen in place all of L.J. Hooker's assets.@@@@1@23@@oe@2-2-2013
20977012@unknown@formal@none@1@S@The Merksamer bankruptcy-law filing appears to supersede that agreement.@@@@1@9@@oe@2-2-2013
20977013@unknown@formal@none@1@S@"By filing for Chapter 11, the Merksamer chain will only need approval from a bankruptcy judge for the sale, not the hundreds of unsecured creditors," said this executive.@@@@1@28@@oe@2-2-2013
20977014@unknown@formal@none@1@S@"The cash from the sale will go to L.J. Hooker, but the company itself will belong to Sam Merksamer."@@@@1@19@@oe@2-2-2013
20977015@unknown@formal@none@1@S@Mr. Merksamer and Sanford Sigoloff, chief executive of L.J. Hooker, were unavailable for comment.@@@@1@14@@oe@2-2-2013
20977016@unknown@formal@none@1@S@In a statement, Mr. Merksamer described the filing as a "legal technicality," but also said that "our inability to obtain trade credit, combined with a need to ensure that our stores were properly stocked for the Christmas season, necessitated our filing Chapter 11."@@@@1@43@@oe@2-2-2013
20977017@unknown@formal@none@1@S@The jewelry chain, which is based in Sacramento, Calif., had revenue of $62 million and operating profit of $2.5 million for the year ended June 30.@@@@1@26@@oe@2-2-2013
20978001@unknown@formal@none@1@S@For all of this year's explosive run-up in stock prices, Renaissance Investment Management Inc.'s computer sat on the sidelines.@@@@1@19@@oe@2-2-2013
20978002@unknown@formal@none@1@S@Now it's on the fence.@@@@1@5@@oe@2-2-2013
20978003@unknown@formal@none@1@S@Renaissance, a Cincinnati-based money manager, began buying stocks again this week with half of the $1.8 billion that it oversees for clients, according to people familiar with the firm's revised strategy.@@@@1@31@@oe@2-2-2013
20978004@unknown@formal@none@1@S@It was the first time since January that Renaissance has thought stocks are worth owning.@@@@1@15@@oe@2-2-2013
20978005@unknown@formal@none@1@S@Renaissance declined to confirm the move, but its stock purchases were thought to have begun Tuesday, timed to coincide with the maturity this week of Treasury bills owned by the firm.@@@@1@31@@oe@2-2-2013
20978006@unknown@formal@none@1@S@The other half of its portfolio is expected to remain invested in Treasury bills for the time being.@@@@1@18@@oe@2-2-2013
20978007@unknown@formal@none@1@S@Wall Street executives said they believed that Renaissance's $900 million buy program was carried out by PaineWebber Inc.@@@@1@18@@oe@2-2-2013
20978008@unknown@formal@none@1@S@As reported, PaineWebber bought shares Tuesday as part of a customer strategy shift, although the broker's client was said then to have been Japanese.@@@@1@24@@oe@2-2-2013
20978009@unknown@formal@none@1@S@Yesterday, PaineWebber declined comment.@@@@1@4@@oe@2-2-2013
20978010@unknown@formal@none@1@S@When it owns stocks, Renaissance's portfolio typically is composed of about 60 large-capitalization issues; to make buy or sell moves, the firm solicits Wall Street brokerage houses a day or so in advance, looking for the best package price to carry out the trades.@@@@1@44@@oe@2-2-2013
20978011@unknown@formal@none@1@S@The broker winning the business doesn't charge commissions, but instead profits by buying or selling for less than the overall package price.@@@@1@22@@oe@2-2-2013
20978012@unknown@formal@none@1@S@That puts the broker at risk if it's trying to buy stock in a rising market.@@@@1@16@@oe@2-2-2013
20978013@unknown@formal@none@1@S@In Tuesday's gyrating session, the Dow Jones Industrial Average fell by 80 points early in the day, but finished with less than a four-point loss.@@@@1@25@@oe@2-2-2013
20978014@unknown@formal@none@1@S@Renaissance's last portfolio shift, carried out by Goldman, Sachs & Co., was a highly publicized decision last January to sell its entire stock portfolio and buy Treasury bills.@@@@1@28@@oe@2-2-2013
20978015@unknown@formal@none@1@S@The sell signal, which sent a bearish chill through the stock market, came when Renaissance's computer found that stocks were overpriced compared with bonds and Treasury bills.@@@@1@27@@oe@2-2-2013
20978016@unknown@formal@none@1@S@At the time, the Dow Jones Industrial Average stood at about 2200.@@@@1@12@@oe@2-2-2013
20978017@unknown@formal@none@1@S@The Dow average now stands more than 20% higher, while Renaissance's portfolio of Treasurys produced a return of about 6% through the first three quarters of the year.@@@@1@28@@oe@2-2-2013
20978018@unknown@formal@none@1@S@The computer's miscalculation has been painful for Renaissance.@@@@1@8@@oe@2-2-2013
20978019@unknown@formal@none@1@S@Almost any money manager holding stocks has turned in better results, while Renaissance has played it safe with Treasury bills.@@@@1@20@@oe@2-2-2013
20978020@unknown@formal@none@1@S@So why does Renaissance's computer like stocks with the Dow at 2653.28, where it closed yesterday, when it didn't with the Dow at 2200?@@@@1@24@@oe@2-2-2013
20978021@unknown@formal@none@1@S@"With the decline in stock prices and continued low or stable interest rates, stocks are representing a better value all the time," Renaissance President Frank W. Terrizzi said yesterday.@@@@1@29@@oe@2-2-2013
20978022@unknown@formal@none@1@S@Three-month T-bill yields have fallen to 7.8% from about 9% at the start of the year.@@@@1@16@@oe@2-2-2013
20978023@unknown@formal@none@1@S@Stock prices, meanwhile, are about 140 points lower than the peak of 2791.41 reached on the Dow industrial average Oct. 9.@@@@1@21@@oe@2-2-2013
20978024@unknown@formal@none@1@S@Are those declines enough to signal a partial return to stocks?@@@@1@11@@oe@2-2-2013
20978025@unknown@formal@none@1@S@Mr. Terrizzi won't say specifically, explaining that if there was such a move, it would take about three days to complete the loose ends of the transaction.@@@@1@27@@oe@2-2-2013
20978026@unknown@formal@none@1@S@During that time, a buyer with the clout of a Renaissance could end up driving up the price of stocks it was trying to buy if it tipped its hand.@@@@1@30@@oe@2-2-2013
20978027@unknown@formal@none@1@S@But everything is relative to Mr. Terrizzi, so stocks in his view can become more attractive in comparison with bonds or T-bills, even if shares are more expensive than when they were sold in January.@@@@1@35@@oe@2-2-2013
20978028@unknown@formal@none@1@S@"Our {computer} model has a certain trigger point," he said.@@@@1@10@@oe@2-2-2013
20978029@unknown@formal@none@1@S@When the computer says switch, Renaissance switches.@@@@1@7@@oe@2-2-2013
20978030@unknown@formal@none@1@S@The firm has made 17 previous shifts from one type of asset to another in its 10-year history.@@@@1@18@@oe@2-2-2013
20978031@unknown@formal@none@1@S@Almost all have involved at least half and often the firm's entire portfolio, as the computer searches for the most undervalued investment category, following a money-management style called tactical asset allocation.@@@@1@31@@oe@2-2-2013
20978032@unknown@formal@none@1@S@Competing asset-allocation firms march to their own computer models, so some have been partly or fully invested in stocks this year while Renaissance has sat on the sidelines.@@@@1@28@@oe@2-2-2013
20978033@unknown@formal@none@1@S@As a result, competitors say Renaissance has been looking for any opportunity to return to the stock market, rather than risk losing business by continuing to remain fully invested in Treasury bills.@@@@1@32@@oe@2-2-2013
20978034@unknown@formal@none@1@S@Mr. Terrizzi confirms some clients have left Renaissance, but no major ones, and the firm has added new accounts.@@@@1@19@@oe@2-2-2013
20979001@unknown@formal@none@1@S@David Evans, who last week resigned as president and chief executive of Qintex Entertainment Inc. "for personal reasons" just as the company filed for bankruptcy-law protection, has been temporarily reappointed to both positions, the company said.@@@@1@36@@oe@2-2-2013
20979002@unknown@formal@none@1@S@Qintex Entertainment also said Chief Financial Officer and Treasurer Jonathan Lloyd, 37 years old, would join the nine-member board.@@@@1@19@@oe@2-2-2013
20979003@unknown@formal@none@1@S@He succeeds Roger Kimmel, who resigned last week saying his participation in evaluating the company's role in buying MGM/UA Communications Co. was no longer necessary.@@@@1@25@@oe@2-2-2013
20979004@unknown@formal@none@1@S@Mr. Evans will stay until a successor is found, but not later than the end of the year, the company said.@@@@1@21@@oe@2-2-2013
20979005@unknown@formal@none@1@S@It was the 49-year-old Mr. Evans who had moved into the offices of MGM/UA and run the company during Qintex Australia Ltd.'s aborted bid for the movie company.@@@@1@28@@oe@2-2-2013
20979006@unknown@formal@none@1@S@After MGM/UA terminated the $1.5 billion merger because of a dispute over a $50 million letter of credit, Qintex Entertainment -- which is 43%-owned by Qintex Australia -- found itself facing problems of its own.@@@@1@35@@oe@2-2-2013
20979007@unknown@formal@none@1@S@And the relationship between Qintex Entertainment and the Australian company appears to be quickly deteriorating.@@@@1@15@@oe@2-2-2013
20979008@unknown@formal@none@1@S@On Oct. 19, Qintex Entertainment was about to default on a $5.9 million payment owed to MCA Inc. in connection with the distribution of a television program.@@@@1@27@@oe@2-2-2013
20979009@unknown@formal@none@1@S@Qintex Entertainment was depending on Qintex Australia to arrange financing.@@@@1@10@@oe@2-2-2013
20979010@unknown@formal@none@1@S@But early on Oct. 19, the second of two hectic days of board meetings, Mr. Evans said he believed Qintex Australia wouldn't be forthcoming.@@@@1@24@@oe@2-2-2013
20979011@unknown@formal@none@1@S@He recommended that the company file for protection under Chapter 11 of the U.S. Bankruptcy Code before the MCA deadline, according to a source familiar with the sessions.@@@@1@28@@oe@2-2-2013
20979012@unknown@formal@none@1@S@But a majority of the board, which includes three members from the Australian company, overrode him.@@@@1@16@@oe@2-2-2013
20979013@unknown@formal@none@1@S@Mr. Evans resigned.@@@@1@3@@oe@2-2-2013
20979014@unknown@formal@none@1@S@Later in the day, according to the source, the board reversed itself, decided to file for bankruptcy protection, and asked Mr. Evans to stay on.@@@@1@25@@oe@2-2-2013
20979015@unknown@formal@none@1@S@Mr. Evans told the board he needed the weekend to think about it.@@@@1@13@@oe@2-2-2013
20979016@unknown@formal@none@1@S@Mr. Evans couldn't be reached yesterday for comment.@@@@1@8@@oe@2-2-2013
20979017@unknown@formal@none@1@S@Last Monday, Qintex Australia announced a restructuring plan and said it would sell off assets.@@@@1@15@@oe@2-2-2013
20979018@unknown@formal@none@1@S@Last week the company indicated it would cut back on the working capital it would supply to Qintex Entertainment.@@@@1@19@@oe@2-2-2013
20979019@unknown@formal@none@1@S@Separately, a Qintex Entertainment shareholder filed suit in federal court in Los Angeles charging Qintex Australia with misleading shareholders about Qintex Entertainment's financial position.@@@@1@24@@oe@2-2-2013
20979020@unknown@formal@none@1@S@Qintex Australia said it hadn't seen the suit and couldn't comment.@@@@1@11@@oe@2-2-2013
20980001@unknown@formal@none@1@S@The Sept. 25 "Tracking Travel" column advises readers to "Charge With Caution When Traveling Abroad" because credit-card companies charge 1% to convert foreign-currency expenditures into dollars.@@@@1@26@@oe@2-2-2013
20980002@unknown@formal@none@1@S@In fact, this is the best bargain available to someone traveling abroad.@@@@1@12@@oe@2-2-2013
20980003@unknown@formal@none@1@S@In contrast to the 1% conversion fee charged by Visa, foreign-currency dealers routinely charge 7% or more to convert U.S. dollars into foreign currency.@@@@1@24@@oe@2-2-2013
20980004@unknown@formal@none@1@S@On top of this, the traveler who converts his dollars into foreign currency before the trip starts will lose interest from the day of conversion.@@@@1@25@@oe@2-2-2013
20980005@unknown@formal@none@1@S@At the end of the trip, any unspent foreign exchange will have to be converted back into dollars, with another commission due.@@@@1@22@@oe@2-2-2013
20980006@unknown@formal@none@1@S@The card holder will pay the modest 1% fee only on the amounts actually needed.@@@@1@15@@oe@2-2-2013
20980007@unknown@formal@none@1@S@Typically, he will be billed only several weeks after the expenditure, and then has another couple of weeks before he has to pay the bill.@@@@1@25@@oe@2-2-2013
20980008@unknown@formal@none@1@S@In the meantime, the money can continue to earn interest for the card holder -- often more than 1% during that "float" period alone.@@@@1@24@@oe@2-2-2013
20980009@unknown@formal@none@1@S@Daniel Brigham@@@@1@2@@oe@2-2-2013
20980010@unknown@formal@none@1@S@Visa U.S.A. Inc.@@@@1@3@@oe@2-2-2013
20981001@unknown@formal@none@1@S@MGM Grand Inc. has agreed to pay $93 million and nearly 1.8 million common shares to buy 117 acres of land along the Las Vegas, Nev., Strip as a site for its planned movie-studio and theme-park resort.@@@@1@37@@oe@2-2-2013
20981002@unknown@formal@none@1@S@Of the total purchase price, $50 million cash and $30 million in stock (nearly 1.8 million shares) would be paid to buy the existing 700-room Marina Hotel & Casino from Southwest Securities, a Nevada limited partnership.@@@@1@36@@oe@2-2-2013
20981003@unknown@formal@none@1@S@The remaining properties to be acquired are the Tropicana Country Club & Golf Course, a facility jointly owned by Ramada Inc., of Phoenix, Ariz., and the Jaffe family, and a small parcel owned by MGM Grand director James D. Aljian.@@@@1@40@@oe@2-2-2013
20981004@unknown@formal@none@1@S@The purchase price was disclosed in a preliminary prospectus issued in connection with MGM Grand's planned offering of six million common shares.@@@@1@22@@oe@2-2-2013
20981005@unknown@formal@none@1@S@The luxury airline and casino company, 98.6%-owned by investor Kirk Kerkorian and his Tracinda Corp., earlier this month announced its agreements to acquire the properties, but didn't disclose the purchase price.@@@@1@31@@oe@2-2-2013
20981006@unknown@formal@none@1@S@The proposed stock offering and issuance of nearly 1.8 million common shares in connection with the land purchase will bring MGM Grand's total shares outstanding to 28.7 million, of which 72% will be owned by Mr. Kerkorian and Tracinda, according to the prospectus.@@@@1@43@@oe@2-2-2013
20981007@unknown@formal@none@1@S@In over-the-counter trading, MGM Grand was bid at $17.50 a share.@@@@1@11@@oe@2-2-2013
20981008@unknown@formal@none@1@S@Proceeds from the offering are expected to be used for remodeling the company's Desert Inn resort in Las Vegas, refurbishing certain aircraft of the MGM Grand Air unit, and to acquire the property for the new resort.@@@@1@37@@oe@2-2-2013
20981009@unknown@formal@none@1@S@The company said it estimates the Desert Inn remodeling will cost about $32 million, and the refurbishment of the three DC-8-62 aircraft, made by McDonnell Douglas Corp., will cost around $24.5 million.@@@@1@32@@oe@2-2-2013
20981010@unknown@formal@none@1@S@MGM Grand said the latest stock offering won't cover the $600 million or more cost of building the proposed resort and theme park, and added it will need to seek additional financing, either through bank borrowings or debt and equity offerings, at a later date.@@@@1@45@@oe@2-2-2013
20981011@unknown@formal@none@1@S@Construction is set to begin in early 1991.@@@@1@8@@oe@2-2-2013
20981012@unknown@formal@none@1@S@The resort will include the MGM Grand Hotel, a multi-spired, castle-like facility that will include 5,000 rooms and 85,000 square feet of casino space.@@@@1@24@@oe@2-2-2013
20981013@unknown@formal@none@1@S@The facility will be marketed toward families, and room rates will be between $35 and $55 a night, MGM Grand said.@@@@1@21@@oe@2-2-2013
20981014@unknown@formal@none@1@S@The prospectus didn't include many details about the studio and theme park, although conceptual drawings, released this month, show that it may feature several "themed" areas similar to those found at parks built by Walt Disney Co.@@@@1@37@@oe@2-2-2013
20982001@unknown@formal@none@1@S@Investors poured $2.8 billion more into money-market mutual funds in the latest week despite further declines in yields.@@@@1@18@@oe@2-2-2013
20982002@unknown@formal@none@1@S@Assets of the 400 taxable funds tracked by IBC/Donoghue's Money Fund Report jumped to $351.2 billion in the week ended Tuesday, the Holliston, Mass.-based newsletter said.@@@@1@26@@oe@2-2-2013
20982003@unknown@formal@none@1@S@Assets soared $4.5 billion in the previous week.@@@@1@8@@oe@2-2-2013
20982004@unknown@formal@none@1@S@Meanwhile, the average yield on taxable funds dropped nearly a tenth of a percentage point, the largest drop since midsummer.@@@@1@20@@oe@2-2-2013
20982005@unknown@formal@none@1@S@The average seven-day compound yield, which assumes that dividends are reinvested and that current rates continue for a year, fell to 8.47%, its lowest since late last year, from 8.55% the week before, according to Donoghue's.@@@@1@36@@oe@2-2-2013
20982006@unknown@formal@none@1@S@"Lower yields are just reflecting lower short-term interest rates," said Brenda Malizia Negus, editor of Money Fund Report.@@@@1@18@@oe@2-2-2013
20982007@unknown@formal@none@1@S@Money funds invest in such things as short-term Treasury securities, commercial paper and certificates of deposit, all of which have been posting lower interest rates since last spring.@@@@1@28@@oe@2-2-2013
20982008@unknown@formal@none@1@S@Individual investors can still get better yields on money funds than on many other short-term instruments.@@@@1@16@@oe@2-2-2013
20982009@unknown@formal@none@1@S@The yield on six-month Treasury bills sold at Monday's auction, for example, was just 7.77%.@@@@1@15@@oe@2-2-2013
20982010@unknown@formal@none@1@S@The average yield on six-month CDs of $50,000 or less at major banks was 7.96% in the week ended Tuesday, according to Banxquote Money Markets, a New York information service.@@@@1@30@@oe@2-2-2013
20982011@unknown@formal@none@1@S@One way that money fund managers boost yields in a declining rate environment is by extending the maturities of their investments, so they can earn the current higher rates for a longer period.@@@@1@33@@oe@2-2-2013
20982012@unknown@formal@none@1@S@The average maturity of the taxable funds that Donoghue's follows increased by two days in the latest week to 40 days, its longest since August.@@@@1@25@@oe@2-2-2013
20982013@unknown@formal@none@1@S@"They're anticipating further declines in rates and they're going to get them, slowly," said Walter Frank, chief economist for the Donoghue Organization, publisher of Money Fund Report.@@@@1@27@@oe@2-2-2013
20982014@unknown@formal@none@1@S@Average maturity was as short as 29 days at the start of this year, when short-term interest rates were moving steadily upward.@@@@1@22@@oe@2-2-2013
20982015@unknown@formal@none@1@S@The average seven-day compound yield of the funds reached 9.62% in late April.@@@@1@13@@oe@2-2-2013
20982016@unknown@formal@none@1@S@The highest-yielding funds are still above 9%.@@@@1@7@@oe@2-2-2013
20982017@unknown@formal@none@1@S@The top-performing fund in the latest week was Dreyfus Worldwide Dollar, with a seven-day compound yield of 9.45%.@@@@1@18@@oe@2-2-2013
20982018@unknown@formal@none@1@S@The fund invests heavily in dollar-denominated money-market securities overseas.@@@@1@9@@oe@2-2-2013
20982019@unknown@formal@none@1@S@It is currently waiving management fees, which contributes to the higher yield.@@@@1@12@@oe@2-2-2013
20982020@unknown@formal@none@1@S@The average seven-day simple yield of the 400 funds fell to 8.14% from 8.21%, Donoghue's reported.@@@@1@16@@oe@2-2-2013
20982021@unknown@formal@none@1@S@The average 30-day simple yield slid to 8.22% from 8.26%, and the average 30-day compound yield fell to 8.56% from 8.60%.@@@@1@21@@oe@2-2-2013
20983001@unknown@formal@none@1@S@Many small investors are facing a double whammy this year: They got hurt by investing in the highly risky junk bond market, and the pain is worse because they did it with borrowed money.@@@@1@34@@oe@2-2-2013
20983002@unknown@formal@none@1@S@These people invested in "leveraged" junk bond mutual funds, the publicly traded funds that make a habit of taking out loans to buy extra junk.@@@@1@25@@oe@2-2-2013
20983003@unknown@formal@none@1@S@It's a good strategy in a rising market, where a 25% leveraged portfolio in effect allows investors to have 125% of their money working for them.@@@@1@26@@oe@2-2-2013
20983004@unknown@formal@none@1@S@The strategy boosts current yield by putting more bonds into the portfolio.@@@@1@12@@oe@2-2-2013
20983005@unknown@formal@none@1@S@Trouble is, junk bond prices have been weak for months.@@@@1@10@@oe@2-2-2013
20983006@unknown@formal@none@1@S@Thus, the leverage has amplified the funds' portfolio losses.@@@@1@9@@oe@2-2-2013
20983007@unknown@formal@none@1@S@And shares of leveraged junk funds this year have been clobbered even harder than the junk bonds they hold.@@@@1@19@@oe@2-2-2013
20983008@unknown@formal@none@1@S@"That's really where the leverage hurt," says Thomas Herzfeld, a Miami-based investment manager who specializes in closed-end funds.@@@@1@18@@oe@2-2-2013
20983009@unknown@formal@none@1@S@"Share prices performed even worse than the funds' asset values because fear has taken hold" in the junk market, he says.@@@@1@21@@oe@2-2-2013
20983010@unknown@formal@none@1@S@Leverage is never a problem for the traditional "open end" mutual funds, which aren't publicly traded and aren't allowed to use leverage at all.@@@@1@24@@oe@2-2-2013
20983011@unknown@formal@none@1@S@Leverage is used only by some of the closed-end funds.@@@@1@10@@oe@2-2-2013
20983012@unknown@formal@none@1@S@The usual maneuver is to borrow against the portfolio value or issue preferred stock, using the proceeds to buy additional bonds.@@@@1@21@@oe@2-2-2013
20983013@unknown@formal@none@1@S@The fallout for investors lately has been painful.@@@@1@8@@oe@2-2-2013
20983014@unknown@formal@none@1@S@Consider the New America High Income Fund.@@@@1@7@@oe@2-2-2013
20983015@unknown@formal@none@1@S@With a leveraged position of about 45%, the fund's share price has plunged 28.5% so far this year.@@@@1@18@@oe@2-2-2013
20983016@unknown@formal@none@1@S@That's worse than the price drop sustained by the bonds in its portfolio, whose total return (bond-price changes plus interest) has amounted to a negative 6.08%.@@@@1@26@@oe@2-2-2013
20983017@unknown@formal@none@1@S@Such problems may not be over.@@@@1@6@@oe@2-2-2013
20983018@unknown@formal@none@1@S@Leveraged funds in particular "are still extremely vulnerable, because we're still at the beginning of problems in the junk market," says George Foot, a managing partner at Newgate Management Associates in Northampton, Mass.@@@@1@33@@oe@2-2-2013
20983019@unknown@formal@none@1@S@Many investors are unaware their funds have borrowed to speculate in such a risky market.@@@@1@15@@oe@2-2-2013
20983020@unknown@formal@none@1@S@"If someone actually sat down and thought about what they were being sold," says Gerald Perritt, editor of the Mutual Fund Letter in Chicago, they might shy away.@@@@1@28@@oe@2-2-2013
20983021@unknown@formal@none@1@S@In a typical leverage strategy, a fund tries to capture the spread between what it costs to borrow and the higher return on the bonds it buys with the borrowed money.@@@@1@31@@oe@2-2-2013
20983022@unknown@formal@none@1@S@If the market surges, holders can make that much more profit; the leverage effectively acts as an interest-free margin account for investors.@@@@1@22@@oe@2-2-2013
20983023@unknown@formal@none@1@S@But when the market moves against the fund, investors lose more than other junk holders because the market decline is magnified by the amount the fund is leveraged.@@@@1@28@@oe@2-2-2013
20983024@unknown@formal@none@1@S@Fund managers, for their part, defend their use of leverage.@@@@1@10@@oe@2-2-2013
20983025@unknown@formal@none@1@S@Carl Ericson, who runs the Colonial Intermediate High Income Fund, says the fund's 25% leverage has jacked up its interest income.@@@@1@21@@oe@2-2-2013
20983026@unknown@formal@none@1@S@"As long as I am borrowing at 9.9% and each {bond} yields over that, it enhances the yield," he maintains.@@@@1@20@@oe@2-2-2013
20983027@unknown@formal@none@1@S@Mr. Ericson says he tries to offset the leverage by diversifying the fund's portfolio.@@@@1@14@@oe@2-2-2013
20983028@unknown@formal@none@1@S@Yet some funds have pulled in their horns.@@@@1@8@@oe@2-2-2013
20983029@unknown@formal@none@1@S@New America High Income Fund recently said that it plans to reduce its leverage position by buying back $5 million in preferred stock and notes from investors.@@@@1@27@@oe@2-2-2013
20983030@unknown@formal@none@1@S@The fund made a similar move earlier this year.@@@@1@9@@oe@2-2-2013
20983031@unknown@formal@none@1@S@"We are trying to increase our flexibility," says Ellen E. Terry, a vice president at Ostrander Capital Management, the fund's investment adviser.@@@@1@22@@oe@2-2-2013
20983032@unknown@formal@none@1@S@She declined to elaborate and wouldn't disclose the fund's recent purchases, sales or cash position.@@@@1@15@@oe@2-2-2013
20983033@unknown@formal@none@1@S@Ms. Terry did say the fund's recent performance "illustrates what happens in a leveraged product" when the market doesn't cooperate.@@@@1@20@@oe@2-2-2013
20983034@unknown@formal@none@1@S@"When the market turns around," she says, "it will give a nice picture" of how leverage can help performance.@@@@1@19@@oe@2-2-2013
20983035@unknown@formal@none@1@S@Several leveraged funds don't want to cut the amount they borrow because it would slash the income they pay shareholders, fund officials said.@@@@1@23@@oe@2-2-2013
20983036@unknown@formal@none@1@S@But a few funds have taken other defensive steps.@@@@1@9@@oe@2-2-2013
20983037@unknown@formal@none@1@S@Some have raised their cash positions to record levels.@@@@1@9@@oe@2-2-2013
20983038@unknown@formal@none@1@S@High cash positions help buffer a fund when the market falls.@@@@1@11@@oe@2-2-2013
20983039@unknown@formal@none@1@S@Prospect Street High Income Portfolio, for instance, now holds about 15% in cash and equivalents, nearly quintuple the amount it held earlier this year, says John Frabotta, portfolio co-manager.@@@@1@29@@oe@2-2-2013
20983040@unknown@formal@none@1@S@He says the fund, which is 40% leveraged, has maintained a "substantial cushion" between its borrowing costs and the yields of the portfolio's bonds.@@@@1@24@@oe@2-2-2013
20983041@unknown@formal@none@1@S@"I don't want to be in a position to have to sell," Mr. Frabotta says.@@@@1@15@@oe@2-2-2013
20983042@unknown@formal@none@1@S@Other funds have recently sold weak junk bonds to raise cash.@@@@1@11@@oe@2-2-2013
20983043@unknown@formal@none@1@S@At the 50%-leveraged Zenith Income Fund, portfolio manager John Bianchi recently dumped Mesa Petroleum, Wickes and Horsehead Industries, among others, to raise his cash position to a record 15%.@@@@1@29@@oe@2-2-2013
20983044@unknown@formal@none@1@S@"That's a problem because cash isn't earning us very much money," Mr. Bianchi says.@@@@1@14@@oe@2-2-2013
20983045@unknown@formal@none@1@S@He concedes: "This is the most difficult market that I've been involved in."@@@@1@13@@oe@2-2-2013
20983046@unknown@formal@none@1@S@Because of the recent junk-market turmoil, the fund is considering investing in other issues instead, including mortgage-backed bonds.@@@@1@18@@oe@2-2-2013
20983047@unknown@formal@none@1@S@"We're looking at the leverage factor every day," says Robert Moore, president of Bernstein-Macaulay Inc., a Shearson Lehman Hutton Inc. unit and the fund's adviser.@@@@1@25@@oe@2-2-2013
20983048@unknown@formal@none@1@S@"At some point, if we are unable to cover our leveraged cost -- and at the moment we're right on it -- we're going to have to make a move.@@@@1@30@@oe@2-2-2013
20984001@unknown@formal@none@1@S@One of the more bizarre garden stories since Eden has been unfolding for four years now, in the private paper-and-crayon fantasies of artist Jennifer Bartlett.@@@@1@25@@oe@2-2-2013
20984002@unknown@formal@none@1@S@And if she and the Battery Park City Authority have their way, her horticulturally inept plan will soon go public as a real garden "artwork" in the downtown complex.@@@@1@29@@oe@2-2-2013
20984003@unknown@formal@none@1@S@South Gardens, as the Bartlett scheme is called, will occupy the last 3.5 acres of open space at the southwest tip of Manhattan.@@@@1@23@@oe@2-2-2013
20984004@unknown@formal@none@1@S@It could cost taxpayers $15 million to install and BPC residents $1 million a year to maintain.@@@@1@17@@oe@2-2-2013
20984005@unknown@formal@none@1@S@Created by an artist who flaunts her ignorance of plants and gardens, South Gardens, as now planned, will die from congestive garden design.@@@@1@23@@oe@2-2-2013
20984006@unknown@formal@none@1@S@Ms. Bartlett's previous work, which earned her an international reputation in the non-horticultural art world, often took gardens as its nominal subject.@@@@1@22@@oe@2-2-2013
20984007@unknown@formal@none@1@S@Mayhap this metaphorical connection made the BPC Fine Arts Committee think she had a literal green thumb.@@@@1@17@@oe@2-2-2013
20984008@unknown@formal@none@1@S@(Ms. Bartlett would not discuss her garden for this article.)@@@@1@10@@oe@2-2-2013
20984009@unknown@formal@none@1@S@Last year she boasted to HG magazine: "I'd never looked at a garden in my life."@@@@1@16@@oe@2-2-2013
20984010@unknown@formal@none@1@S@And she proved no shirking violet in her initial statement to the BPCA, a New York State public benefit corporation: "The only thing I was interested in doing was a very complicated garden, which would cost an enormous amount of money and be very expensive to maintain."@@@@1@47@@oe@2-2-2013
20984011@unknown@formal@none@1@S@Undeterred, the BPCA hired Ms. Bartlett and another confessed garden ignoramus, the architect Alexander Cooper, who claimed he had never visited, much less built, a garden, and said of the project, "I don't view this as a landscape.@@@@1@38@@oe@2-2-2013
20984012@unknown@formal@none@1@S@I view this as a building."@@@@1@6@@oe@2-2-2013
20984013@unknown@formal@none@1@S@The third principal in the South Gardens adventure did have garden experience.@@@@1@12@@oe@2-2-2013
20984014@unknown@formal@none@1@S@The firm of Bruce Kelly/David Varnell Landscape Architects had created Central Park's Strawberry Fields and Shakespeare Garden.@@@@1@17@@oe@2-2-2013
20984015@unknown@formal@none@1@S@The BPCA called its team a "stunning" collaboration.@@@@1@8@@oe@2-2-2013
20984016@unknown@formal@none@1@S@After four years, though, the South Gardens design is 100% uncollaborated Jennifer Bartlett.@@@@1@13@@oe@2-2-2013
20984017@unknown@formal@none@1@S@She has done little more than recycle her standard motifs -- trees, water, landscape fragments, rudimentary square houses, circles, triangles, rectangles -- and fit them into a grid, as if she were making one of her gridded two-dimensional works for a gallery wall.@@@@1@43@@oe@2-2-2013
20984018@unknown@formal@none@1@S@But for South Gardens, the grid was to be a 3-D network of masonry or hedge walls with real plants inside them.@@@@1@22@@oe@2-2-2013
20984019@unknown@formal@none@1@S@In a letter to the BPCA, kelly/varnell called this "arbitrary and amateurish."@@@@1@12@@oe@2-2-2013
20984020@unknown@formal@none@1@S@The landscape architects were expelled from the garden in July.@@@@1@10@@oe@2-2-2013
20984021@unknown@formal@none@1@S@All the while, Ms. Bartlett had been busy at her assignment, serene in her sense of self-tilth.@@@@1@17@@oe@2-2-2013
20984022@unknown@formal@none@1@S@As she put it in a 1987 lecture at the Harvard Graduate School of Design: "I have designed a garden, not knowing the difference between a rhododendron and a tulip."@@@@1@30@@oe@2-2-2013
20984023@unknown@formal@none@1@S@Moreover, she proclaimed that "landscape architects have been going wrong for the last 20 years" in the design of open space.@@@@1@21@@oe@2-2-2013
20984024@unknown@formal@none@1@S@And she further stunned her listeners by revealing her secret garden design method: Commissioning a friend to spend "five or six thousand dollars . . . on books that I ultimately cut up."@@@@1@33@@oe@2-2-2013
20984025@unknown@formal@none@1@S@After that, the layout had been easy.@@@@1@7@@oe@2-2-2013
20984026@unknown@formal@none@1@S@"I've always relied heavily on the grid and found it never to fail."@@@@1@13@@oe@2-2-2013
20984027@unknown@formal@none@1@S@Ms. Bartlett told her audience that she absolutely did not believe in compromise or in giving in to the client "because I don't think you can do watered-down versions of things."@@@@1@31@@oe@2-2-2013
20984028@unknown@formal@none@1@S@(This was never a problem with South Gardens, because the client had long since given in to Ms. Bartlett's every whim.)@@@@1@21@@oe@2-2-2013
20984029@unknown@formal@none@1@S@Last year the public was afforded a preview of Ms. Bartlett's creation in a tablemodel version, at a BPC exhibition.@@@@1@20@@oe@2-2-2013
20984030@unknown@formal@none@1@S@The labels were breathy: "Within its sheltering walls is a microcosm of a thousand years in garden design . . . a rose garden, herb garden, serpentine garden, flower fields, an apple orchard . . . organized in a patchwork of 50-by-50-foot squares to form `rooms' . . . here and there are simple architectural forms, a whimsical jet of water, a conceit of topiary or tartan plaid, and chairs of every sort to drag around. . . .@@@@1@79@@oe@2-2-2013
20984031@unknown@formal@none@1@S@At the core of it all is a love for plants."@@@@1@11@@oe@2-2-2013
20984032@unknown@formal@none@1@S@Plant lovers who studied the maquette were alarmed.@@@@1@8@@oe@2-2-2013
20984033@unknown@formal@none@1@S@They looked at the miniature and saw a giant folly.@@@@1@10@@oe@2-2-2013
20984034@unknown@formal@none@1@S@Ms. Bartlett's little rooms left little room for plants or people.@@@@1@11@@oe@2-2-2013
20984035@unknown@formal@none@1@S@Kelly/Varnell had put South Gardens' carrying capacity at four people per room, or about 100 humans overall.@@@@1@17@@oe@2-2-2013
20984036@unknown@formal@none@1@S@This mincemeat of tiny gridlocked squares was inspired by the artist's own digs: "My loft was 50 by 100 feet, so 50 feet by 50 feet seemed like a good garden room."@@@@1@32@@oe@2-2-2013
20984037@unknown@formal@none@1@S@Inside the grid were 24 of these plant cells jammed full of clutter.@@@@1@13@@oe@2-2-2013
20984038@unknown@formal@none@1@S@One she made into a topiary rec room, replete with plants shaped into a Barcalounger, TV, piano and chairs.@@@@1@19@@oe@2-2-2013
20984039@unknown@formal@none@1@S@In another, she requisitioned topiary MX missile cones -- costing $10,000 each -- in heights up to 20 feet.@@@@1@19@@oe@2-2-2013
20984040@unknown@formal@none@1@S@Another she stuffed with eight "rectilinear hedges" for a topiary geometry lesson in the right-angling of plants.@@@@1@17@@oe@2-2-2013
20984041@unknown@formal@none@1@S@In the herbal lounge she specified a "plaid knot garden" decor.@@@@1@11@@oe@2-2-2013
20984042@unknown@formal@none@1@S@She ordered the foyer done in a different plaid planting, and made the landscape architects study a book on tartans.@@@@1@20@@oe@2-2-2013
20984043@unknown@formal@none@1@S@In one garden roomette she implanted a 43-foot square glass cube meant to show off a plaid tile floor conceit, a "zinc sink," a "huge fishbowl with carp" and a "birdcage with cockatoos."@@@@1@33@@oe@2-2-2013
20984044@unknown@formal@none@1@S@Next door she put a smaller plaid-floored glass house, where, she suggested, a flat of strawberries might be displayed in the dead of winter.@@@@1@24@@oe@2-2-2013
20984045@unknown@formal@none@1@S@In another compartment called the Linden Bosque, 62 linden trees were to be crowded together at killing intervals of 10 or 16 feet.@@@@1@23@@oe@2-2-2013
20984046@unknown@formal@none@1@S@(Lindens need about 36 feet.)@@@@1@5@@oe@2-2-2013
20984047@unknown@formal@none@1@S@One thing about the Bartlett plan was never in doubt: It would demand the full-time skills of a battalion of topiary barbers, rosarians, orchardists and arborists.@@@@1@26@@oe@2-2-2013
20984048@unknown@formal@none@1@S@Ms. Bartlett blithely suggested calling upon "semi-skilled garden club workers for maintenance."@@@@1@12@@oe@2-2-2013
20984049@unknown@formal@none@1@S@Furthermore, she had insisted on paths so narrow (five to eight feet) and hedge corners so square that standard maintenance equipment -- trucks or cherry pickers -- couldn't maneuver.@@@@1@29@@oe@2-2-2013
20984050@unknown@formal@none@1@S@Then, to make these gardenettes quite literally rooms, Ms. Bartlett had thrown up windowless walls (brick, lattice, hedge) eight to 10 feet tall, casting her interiors into day-long Stygian shade.@@@@1@30@@oe@2-2-2013
20984051@unknown@formal@none@1@S@It was hard to see how photosynthesis would ever happen in South Gardens without decking the walls in a Christmas-like array of Gro-Lites.@@@@1@23@@oe@2-2-2013
20984052@unknown@formal@none@1@S@Finally, flouting the BPCA's wishes to continue the popular two-mile riverside Esplanade, prized for its expansive views of New York Harbor, the Statue of Liberty and Ellis Island, Ms. Bartlett threw up yet another wall, this time concrete, this time 10 1/2 feet tall.@@@@1@44@@oe@2-2-2013
20984053@unknown@formal@none@1@S@She ran it the length of the South Gardens riverfront, blotting out the city's great natural water features, the harbor and the river.@@@@1@23@@oe@2-2-2013
20984054@unknown@formal@none@1@S@(Within her garden, she has decreed a waterfall, a rill, ponds and other costly, trivial waterworks beside the Hudson.)@@@@1@19@@oe@2-2-2013
20984055@unknown@formal@none@1@S@While the model was still on view, Manhattan Community Board 1 passed a resolution against South Gardens.@@@@1@17@@oe@2-2-2013
20984056@unknown@formal@none@1@S@The Parks Council wrote the BPCA that this "too `private' . . . exclusive," complex and expensive "enclosed garden . . . belongs in almost any location but the waterfront."@@@@1@30@@oe@2-2-2013
20984057@unknown@formal@none@1@S@Lynden B. Miller, the noted public garden designer who restored Central Park's Conservatory Garden, recalls her reaction to the South Gardens model in light of the public garden she was designing for 42nd Street's Bryant Park: "Bryant Park, as designed in 1933, failed as a public space, because it made people feel trapped.@@@@1@53@@oe@2-2-2013
20984058@unknown@formal@none@1@S@By removing the hedges and some walls, the Bryant Park Restoration is opening it up.@@@@1@15@@oe@2-2-2013
20984059@unknown@formal@none@1@S@It seems to me the BPCA plan has the potential of making South Gardens a horticultural jail for people and plants."@@@@1@21@@oe@2-2-2013
20984060@unknown@formal@none@1@S@The three urban horticulture experts with Cornell Cooperative Extension weighed in with a letter to the BPCA that began: "We feel that the garden is horticulturally doomed."@@@@1@27@@oe@2-2-2013
20984061@unknown@formal@none@1@S@They then addressed the decidedly "questionable safety of . . . a complex garden of endless hiding places.@@@@1@18@@oe@2-2-2013
20984062@unknown@formal@none@1@S@The 8 ft. hedges which obstruct views in and out of small `rooms' insure . . . that this garden will be a potential breeding ground for crime."@@@@1@28@@oe@2-2-2013
20984063@unknown@formal@none@1@S@(At Harvard, Ms. Bartlett had declared: "There are going to be problems with safety . . .@@@@1@17@@oe@2-2-2013
20984064@unknown@formal@none@1@S@I'm not going to address questions of safety!")@@@@1@8@@oe@2-2-2013
20984065@unknown@formal@none@1@S@Despite the dire assessments of knowledgeable garden professionals, Ms. Bartlett's South Gardens design somehow continues on, seemingly impervious to reason, stalled only by bureaucratic lethargy and logistical complications.@@@@1@28@@oe@2-2-2013
20984066@unknown@formal@none@1@S@BPCA President and CEO David Emil hopes to negotiate a seawall that could "be significantly more visually permeable."@@@@1@18@@oe@2-2-2013
20984067@unknown@formal@none@1@S@And by substituting yet another landscape architect, Nicholas Quennell, he insists he can achieve that and other accommodations to gardening reality while still preserving the "artistic vision" of a "truly great artist."@@@@1@32@@oe@2-2-2013
20984068@unknown@formal@none@1@S@After four years of no progress in this direction, it is doubtful any viable collaboration with Ms. Bartlett will suddenly now be possible.@@@@1@23@@oe@2-2-2013
20984069@unknown@formal@none@1@S@(Mr. Quennell has said he plans to go with the grid, regardless.)@@@@1@12@@oe@2-2-2013
20984070@unknown@formal@none@1@S@There is still time, however, for Gov. Mario Cuomo or Fabian Palomino, chairman of the BPCA board, to prevent this topiary "Tilted Arc."@@@@1@23@@oe@2-2-2013
20984071@unknown@formal@none@1@S@These statesmen might take counsel from William Robinson, author of "The English Flower Garden" -- the gardener's bible since 1883 -- who seems to have had a Jennifer Bartlett in mind when he wrote: "Unhappily, our gardeners for ages have suffered at the hands of the decorative artist when applying his `designs' to the garden. . . .@@@@1@58@@oe@2-2-2013
20984072@unknown@formal@none@1@S@It is this adapting of absurd `knots' and patterns from old books to any surface where a flower garden has to be made that leads to bad and frivolous design -- wrong in plan and hopeless for the life of plants.@@@@1@41@@oe@2-2-2013
20985001@unknown@formal@none@1@S@I read the exerpts of Wayne Angell's exchange with a Gosbank representative ("Put the Soviet Economy on Golden Rails," editorial page, Oct. 5) with great interest, since the gold standard is one of my areas of research.@@@@1@37@@oe@2-2-2013
20985002@unknown@formal@none@1@S@Mr. Angell is incorrect when he states that the Soviet Union's large gold reserves would give it "great power to establish credibility."@@@@1@22@@oe@2-2-2013
20985003@unknown@formal@none@1@S@During the latter part of the 19th century, Russia was on a gold standard and had gold reserves representing more than 100% of its outstanding currency, but no one outside Russia used rubles.@@@@1@33@@oe@2-2-2013
20985004@unknown@formal@none@1@S@The Bank of England, on the other hand, had gold reserves that averaged about 30% of its outstanding currency, and Bank of England notes were accepted throughout the world.@@@@1@29@@oe@2-2-2013
20985005@unknown@formal@none@1@S@The most likely reason for this disparity is that the Bank of England was a private bank with substantial earning assets, and the common-law rights of creditors to collect claims against the bank were well established in Britain.@@@@1@38@@oe@2-2-2013
20985006@unknown@formal@none@1@S@By contrast, in 19th-century Russia an authoritarian government owned the bank and had the power to revoke payment whenever it chose, much as it would in today's Soviet Union.@@@@1@29@@oe@2-2-2013
20985007@unknown@formal@none@1@S@The success of the British gold standard was due to independent private banking and common law, rather than the choice of gold for valuing the currency.@@@@1@26@@oe@2-2-2013
20985008@unknown@formal@none@1@S@It is no coincidence that from 1844 to 1914, when the Bank of England was an independent private bank, the pound was never devalued and payment of gold for pound notes was never suspended, but with the subsequent nationalization of the Bank of England, the pound was devalued with increasing frequency and its use as an international medium of exchange declined.@@@@1@61@@oe@2-2-2013
20985009@unknown@formal@none@1@S@The Soviet Union should keep these lessons in mind as it seeks to establish the ruble as an international currency.@@@@1@20@@oe@2-2-2013
20985010@unknown@formal@none@1@S@One way to make the ruble into a major international currency would be to leave reserves of gold and earning assets in a Swiss bank with distributions based on Swiss laws.@@@@1@31@@oe@2-2-2013
20985011@unknown@formal@none@1@S@Unless the laws determining the noteholder's rights to payment are independent of the issuer of those notes, however, a gold-based ruble would be as unsuccessful for the Soviets as it was for the czars.@@@@1@34@@oe@2-2-2013
20985012@unknown@formal@none@1@S@Christopher R. Petruzzi@@@@1@3@@oe@2-2-2013
20985013@unknown@formal@none@1@S@Professor of Taxation@@@@1@3@@oe@2-2-2013
20985014@unknown@formal@none@1@S@California State University@@@@1@3@@oe@2-2-2013
20985015@unknown@formal@none@1@S@Fullerton, Calif.@@@@1@2@@oe@2-2-2013
20986001@unknown@formal@none@1@S@Wednesday, October 25, 1989@@@@1@4@@oe@2-2-2013
20986002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
20986003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
20986004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
20986005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 3/4% high, 8 11/16% low, 8 3/4% near closing bid, 8 13/16% offered.@@@@1@16@@oe@2-2-2013
20986006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
20986007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
20986008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
20986009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
20986010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
20986011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
20986012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.45% 30 to 44 days; 8.20% 45 to 67 days; 8.325% 68 to 89 days; 8% 90 to 119 days; 7.875% 120 to 149 days; 7.75% 150 to 179 days; 7.50% 180 to 270 days.@@@@1@44@@oe@2-2-2013
20986013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.55% 30 days; 8.45% 60 days; 8.40% 90 days.@@@@1@24@@oe@2-2-2013
20986014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.09% one month; 8.09% two months; 8.06% three months; 8% six months; 7.94% one year.@@@@1@18@@oe@2-2-2013
20986015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
20986016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
20986017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.53% one month; 8.45% three months; 8.27% six months.@@@@1@15@@oe@2-2-2013
20986018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.47% 30 days; 8.30% 60 days; 8.27% 90 days; 8.08% 120 days; 7.98% 150 days; 7.90% 180 days.@@@@1@20@@oe@2-2-2013
20986019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
20986020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 11/16% to 8 9/16% one month; 8 9/16% to 8 7/16% two months; 8 5/8% to 8 1/2% three months; 8 1/2% to 8 3/8% four months; 8 7/16% to 8 5/16% five months; 8 7/16% to 8 5/16% six months.@@@@1@45@@oe@2-2-2013
20986021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 11/16% one month; 8 5/8% three months; 8 7/16% six months; 8 3/8% one year.@@@@1@21@@oe@2-2-2013
20986022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
20986023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 9%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
20986024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
20986025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 23, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.52% 13 weeks; 7.50% 26 weeks.@@@@1@35@@oe@2-2-2013
20986026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac): Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@18@@oe@2-2-2013
20986027@unknown@formal@none@1@S@9.75%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
20986028@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
20986029@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae): Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par) 9.68%, standard conventional fixed-rate mortgages; 8.70%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@34@@oe@2-2-2013
20986030@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
20986031@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.62%.@@@@1@6@@oe@2-2-2013
20986032@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
20987001@unknown@formal@none@1@S@Securities and Exchange Commission Chairman Richard Breeden told a congressional subcommittee that he would consider imposing "circuit breakers" to halt program trading at volatile times.@@@@1@25@@oe@2-2-2013
20987002@unknown@formal@none@1@S@Mr. Breeden, in his first testimony to Congress since taking the SEC post, said the agency is studying the Friday the 13th market plunge, including how current circuit breakers affected the market that day and the following Monday.@@@@1@38@@oe@2-2-2013
20987003@unknown@formal@none@1@S@After the study, the SEC would be willing to consider adding new circuit breakers or fine-tuning the current ones, he added.@@@@1@21@@oe@2-2-2013
20987004@unknown@formal@none@1@S@Circuit breakers, designed to give the markets a breather in cases of sharp price movements, curb trading of futures or stocks at various trigger points.@@@@1@25@@oe@2-2-2013
20987005@unknown@formal@none@1@S@At certain points during the Friday the 13th drop, circuit breakers kicked in on the futures market, slowing trading at times.@@@@1@21@@oe@2-2-2013
20987006@unknown@formal@none@1@S@A circuit breaker that would have closed down the New York Stock Exchange wasn't tripped.@@@@1@15@@oe@2-2-2013
20987007@unknown@formal@none@1@S@Rep. Edward Markey (D., Mass.), chairman of the House Telecommunications and Finance Subcommittee, is pushing the idea of a circuit breaker for computer-driven program trading in hopes that would curb "turmoil" in the marketplace.@@@@1@34@@oe@2-2-2013
20987008@unknown@formal@none@1@S@He argued that program-trading by roughly 15 big institutions is pushing around the markets and scaring individual investors.@@@@1@18@@oe@2-2-2013
20987009@unknown@formal@none@1@S@Mr. Breeden didn't reject the proposal.@@@@1@6@@oe@2-2-2013
20987010@unknown@formal@none@1@S@After the SEC study of the drop is completed, he said, "I'm perfectly happy to work with this committee . . . in identifying whether we need other devices," such as a program-trading curb.@@@@1@34@@oe@2-2-2013
20987011@unknown@formal@none@1@S@Mr. Breeden backed most of the provisions in a market-reform bill that the SEC brought to the subcommittee last year under then-chairman David Ruder.@@@@1@24@@oe@2-2-2013
20987012@unknown@formal@none@1@S@The measure is expected to move through this Congress.@@@@1@9@@oe@2-2-2013
20987013@unknown@formal@none@1@S@But the new chairman vehemently opposed a provision in the bill that would give the agency the right to close the markets at times of stress.@@@@1@26@@oe@2-2-2013
20987014@unknown@formal@none@1@S@Mr. Breeden contended that uncertainty over when the SEC might act could worsen volatility in the markets.@@@@1@17@@oe@2-2-2013
20987015@unknown@formal@none@1@S@He argued that the current circuit-breaker system allows investors to know "precisely when and where any trading interruptions will occur and how long they will last."@@@@1@26@@oe@2-2-2013
20987016@unknown@formal@none@1@S@Mr. Breeden offered strong support for two other provisions in the bill.@@@@1@12@@oe@2-2-2013
20987017@unknown@formal@none@1@S@One would force brokerage houses to provide the SEC detailed information about loans made by their holding companies.@@@@1@18@@oe@2-2-2013
20987018@unknown@formal@none@1@S@Such loans often are used to finance leveraged buy-outs, and the agency is worried that a sharp market drop could create capital problems for the firms.@@@@1@26@@oe@2-2-2013
20987019@unknown@formal@none@1@S@He also backed a rule to require large traders to report transactions on a systematic basis.@@@@1@16@@oe@2-2-2013
20987020@unknown@formal@none@1@S@That information, he argued, is critical to reconstructing sharp market moves, such as the one nearly two weeks ago.@@@@1@19@@oe@2-2-2013
20988001@unknown@formal@none@1@S@In a rare package sale of its real estate, K mart Corp., Troy, Mich., has sold 17 of its strip shopping centers to a limited partnership led by New York developer Philip Pilevsky, according to sources familiar with the transaction.@@@@1@40@@oe@2-2-2013
20988002@unknown@formal@none@1@S@They estimate the value of the transaction at close to $100 million.@@@@1@12@@oe@2-2-2013
20988003@unknown@formal@none@1@S@K mart officials and Mr. Pilevsky wouldn't comment on the sale.@@@@1@11@@oe@2-2-2013
20988004@unknown@formal@none@1@S@K mart previously had announced it would report its third consecutive decline in quarterly earnings for the period ended yesterday, the same day the real estate deal was completed.@@@@1@29@@oe@2-2-2013
20988005@unknown@formal@none@1@S@Analysts are estimating third-quarter earnings will drop between 13% and 20% to about 50 to 55 cents per share, compared with 63 cents per share in the year-ago quarter.@@@@1@29@@oe@2-2-2013
20988006@unknown@formal@none@1@S@It is unclear what effect the sale of the shopping centers will have on earnings.@@@@1@15@@oe@2-2-2013
20988007@unknown@formal@none@1@S@K mart developed the centers, which range in size from about 150,000 square feet to just over 250,000 square feet.@@@@1@20@@oe@2-2-2013
20988008@unknown@formal@none@1@S@Most are anchored by a K mart store.@@@@1@8@@oe@2-2-2013
20988009@unknown@formal@none@1@S@The retailer reportedly will lease its stores back from the developer, who plans to expand the small centers.@@@@1@18@@oe@2-2-2013
20988010@unknown@formal@none@1@S@The centers comprise a total of about 1.6 million square feet of retail space.@@@@1@14@@oe@2-2-2013
20988011@unknown@formal@none@1@S@They are spread around the country and include locations in California, Florida, Washington and Arizona.@@@@1@15@@oe@2-2-2013
20988012@unknown@formal@none@1@S@Mr. Pilevsky, who heads Philips International Holding Corp., a New York-based real estate company, owns more than a dozen other shopping centers in which K mart is a tenant.@@@@1@29@@oe@2-2-2013
20988013@unknown@formal@none@1@S@The company is active in office and residential development in New York.@@@@1@12@@oe@2-2-2013
20988014@unknown@formal@none@1@S@However, nationally, Mr. Pilevsky controls through limited partnerships about 85 shopping centers with about 17 million square feet.@@@@1@18@@oe@2-2-2013
20988015@unknown@formal@none@1@S@K mart runs 2,200 K mart stores, primarily in leased facilities.@@@@1@11@@oe@2-2-2013
20988016@unknown@formal@none@1@S@The company typically sells the centers it develops, but has usually sold only one or several at a time.@@@@1@19@@oe@2-2-2013
20989001@unknown@formal@none@1@S@Motorola is fighting back against junk mail.@@@@1@7@@oe@2-2-2013
20989002@unknown@formal@none@1@S@So much of the stuff poured into its Austin, Texas, offices that its mail rooms there simply stopped delivering it.@@@@1@20@@oe@2-2-2013
20989003@unknown@formal@none@1@S@Now, thousands of mailers, catalogs and sales pitches go straight into the trash.@@@@1@13@@oe@2-2-2013
20989004@unknown@formal@none@1@S@"We just don't have the staff to {deliver} it, nor do we have the space or the time," says a spokesman for the Schaumburg, Ill., electronics company, which has 5,000 employees in the Austin area.@@@@1@35@@oe@2-2-2013
20989005@unknown@formal@none@1@S@"It's the overload problem and the weight problem we have."@@@@1@10@@oe@2-2-2013
20989006@unknown@formal@none@1@S@Motorola is in good company.@@@@1@5@@oe@2-2-2013
20989007@unknown@formal@none@1@S@Businesses across the country are getting fed up with junk mail, and some are saying they just aren't going to take it anymore -- literally.@@@@1@25@@oe@2-2-2013
20989008@unknown@formal@none@1@S@While no one has tracked how many company mail rooms throw out junk mail, direct-mail advertising firms say the number is growing.@@@@1@22@@oe@2-2-2013
20989009@unknown@formal@none@1@S@General Motors earlier this year said it wouldn't deliver bulk mail or free magazines in its Flint, Mich., office, while Air Products & Chemicals, Allentown, Pa., says it screens junk mail and often throws out most of a given mass mailing.@@@@1@41@@oe@2-2-2013
20989010@unknown@formal@none@1@S@Why the revolt?@@@@1@3@@oe@2-2-2013
20989011@unknown@formal@none@1@S@Anybody with a mailbox can answer that: sheer, overwhelming, mind-numbing volume.@@@@1@11@@oe@2-2-2013
20989012@unknown@formal@none@1@S@According to the Direct Marketing Association, total direct mail -- to both businesses and consumers -- jumped 50% to 65.4 billion pieces in 1988 from five years earlier.@@@@1@28@@oe@2-2-2013
20989013@unknown@formal@none@1@S@Though direct mail to businesses isn't broken out separately, the association says it's growing even faster.@@@@1@16@@oe@2-2-2013
20989014@unknown@formal@none@1@S@The deluge has spurred cost-conscious companies to action, with mail rooms throwing the stuff out rather than taking the time or money to deliver it.@@@@1@25@@oe@2-2-2013
20989015@unknown@formal@none@1@S@The direct-mail industry, not surprisingly, is fuming at the injustice of it all.@@@@1@13@@oe@2-2-2013
20989016@unknown@formal@none@1@S@After all, this is the industry that has a hard enough time getting any respect, that is the butt of so many jokes that television's "L.A. Law" portrays direct-mail-mogul David as short, bald, intensely nerdy, and unremittingly boring.@@@@1@38@@oe@2-2-2013
20989017@unknown@formal@none@1@S@The practice of businesses throwing out junk mail "is a commonly known problem, and it's increasing as companies attempt to put through budget cuts across the board," right down to the mail-room level, says Stephen Belth, a list consultant and chairman of the Direct Marketing Association's business-to-business council.@@@@1@48@@oe@2-2-2013
20989018@unknown@formal@none@1@S@"But it's like biting the hand that feeds them, because every one of these companies uses direct marketing."@@@@1@18@@oe@2-2-2013
20989019@unknown@formal@none@1@S@It's almost impossible to track the number of companies trashing junk mail, since the decision is usually made in the mail room -- not the board room.@@@@1@27@@oe@2-2-2013
20989020@unknown@formal@none@1@S@And the practice often varies from location to location even within a company.@@@@1@13@@oe@2-2-2013
20989021@unknown@formal@none@1@S@But industry executives say businesses seem especially inclined to dump mailers sent to titles rather than to individual names.@@@@1@19@@oe@2-2-2013
20989022@unknown@formal@none@1@S@Motorola's Austin operation was one of the first to lose patience, deciding a few years ago to junk any bulk mail that wasn't addressed to an individual.@@@@1@27@@oe@2-2-2013
20989023@unknown@formal@none@1@S@Magazines aren't delivered at all, even if an individual's name is listed; employees who want their magazines have to pick them up from the mail room or the company library -- and are told to change the subscriptions to their home addresses.@@@@1@42@@oe@2-2-2013
20989024@unknown@formal@none@1@S@At Air Products, meanwhile, the mailroom staff opens junk mail and often throws it away -- even if addressed to an individual.@@@@1@22@@oe@2-2-2013
20989025@unknown@formal@none@1@S@"If they get 50 packets of something, they open one, see what it says, throw 48 away and send two to people or departments they think are appropriate," a spokesman says.@@@@1@31@@oe@2-2-2013
20989026@unknown@formal@none@1@S@Direct marketers were especially alarmed when General Motors -- one of the country's largest companies and a big direct-mail user itself -- entered the junk-mail battle.@@@@1@26@@oe@2-2-2013
20989027@unknown@formal@none@1@S@As of March 1, its Flint office, with about 2,500 employees, stopped delivering bulk mail and non-subscription magazines.@@@@1@18@@oe@2-2-2013
20989028@unknown@formal@none@1@S@Employees were told that if they really wanted the publications, they would have to have them sent home instead.@@@@1@19@@oe@2-2-2013
20989029@unknown@formal@none@1@S@The reason: overload, especially of non-subscription magazines.@@@@1@7@@oe@2-2-2013
20989030@unknown@formal@none@1@S@Direct-mail executives see GM's stand as an ominous sign -- even if the junk-mail kings did bring it on themselves.@@@@1@20@@oe@2-2-2013
20989031@unknown@formal@none@1@S@"Why anyone would want to close themselves off {from direct mail}, a priori, doesn't make any sense," says Michael Bronner of Bronner Slosberg Associates, a Boston directmail firm.@@@@1@28@@oe@2-2-2013
20989032@unknown@formal@none@1@S@"It smacks of big brotherism.@@@@1@5@@oe@2-2-2013
20989033@unknown@formal@none@1@S@They're going to decide what their employees can or cannot read."@@@@1@11@@oe@2-2-2013
20989034@unknown@formal@none@1@S@The practice is, however, legal in most cases.@@@@1@8@@oe@2-2-2013
20989035@unknown@formal@none@1@S@Jack Ellis, a U.S. postal inspector in New York, says the Postal Service's only job is to deliver the mail to the mail room; once it gets there, a company can do with it what it wishes.@@@@1@37@@oe@2-2-2013
20989036@unknown@formal@none@1@S@The junk-mail titans, ever optimistic, are looking for ways around the problem.@@@@1@12@@oe@2-2-2013
20989037@unknown@formal@none@1@S@So far, they say, it hasn't had any noticeable effect on response rates.@@@@1@13@@oe@2-2-2013
20989038@unknown@formal@none@1@S@And before it does, they're trying to cut back on the clutter that created the situation in the first place.@@@@1@20@@oe@2-2-2013
20989039@unknown@formal@none@1@S@Among other things, the industry is trying to come up with standardized business lists that cut down on duplications.@@@@1@19@@oe@2-2-2013
20989040@unknown@formal@none@1@S@"We're going to have to mail a lot less and a lot smarter," says Jack Miller, president of Quill Corp., a Lincolnshire, Ill., business-to-business mail-order company.@@@@1@26@@oe@2-2-2013
20989041@unknown@formal@none@1@S@But then again, mailing less and smarter won't be much help if the mail ends up in the garbage anyway.@@@@1@20@@oe@2-2-2013
20989042@unknown@formal@none@1@S@New Hyundai Campaign@@@@1@3@@oe@2-2-2013
20989043@unknown@formal@none@1@S@Hyundai Motor America, fighting quality complaints, declining sales and management turmoil, yesterday unveiled its 1990 ad strategy, tagged "We're Making More Sense Than Ever."@@@@1@24@@oe@2-2-2013
20989044@unknown@formal@none@1@S@The ad campaign, created by Saatchi & Saatchi's Backer Spielvogel Bates agency, is an extension of the auto company's "Cars That Make Sense" campaign, which emphasized affordability.@@@@1@27@@oe@2-2-2013
20989045@unknown@formal@none@1@S@TV ads plugging the company's new V-6 Sonata and its souped-up Excel subcompact will begin appearing Monday.@@@@1@17@@oe@2-2-2013
20989046@unknown@formal@none@1@S@One spot shows a Sonata next to a rival midsized car, and an announcer says, "Listen to what they're saying about the Hyundai Sonata."@@@@1@24@@oe@2-2-2013
20989047@unknown@formal@none@1@S@As the announcer reads favorable quotes about the model from Motor Trend and Road & Track magazines, the other car, which is white, slowly turns green.@@@@1@26@@oe@2-2-2013
20989048@unknown@formal@none@1@S@"No wonder the competition's green with envy," the announcer says.@@@@1@10@@oe@2-2-2013
20989049@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
20989050@unknown@formal@none@1@S@ACQUISITION:@@@@1@1@@oe@2-2-2013
20989051@unknown@formal@none@1@S@EWDB, formed by the merger of Eurocom and Della Femina McNamee WCRS, said it agreed to buy Vizeversa, an agency in Barcelona.@@@@1@22@@oe@2-2-2013
20989052@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
20989053@unknown@formal@none@1@S@HOLIDAY ADS:@@@@1@2@@oe@2-2-2013
20989054@unknown@formal@none@1@S@Seagram will run two interactive ads in December magazines promoting its Chivas Regal and Crown Royal brands.@@@@1@17@@oe@2-2-2013
20989055@unknown@formal@none@1@S@The Chivas ad illustrates -- via a series of pullouts -- the wild reactions from the pool man, gardener and others if not given Chivas for Christmas.@@@@1@27@@oe@2-2-2013
20989056@unknown@formal@none@1@S@The three-page Crown Royal ad features a black-and-white shot of a boring holiday party -- and a set of colorful stickers with which readers can dress it up.@@@@1@28@@oe@2-2-2013
20989057@unknown@formal@none@1@S@Both ads were designed by Omnicom's DDB Needham agency.@@@@1@9@@oe@2-2-2013
20990001@unknown@formal@none@1@S@Senate Democrats who favor cutting the capital-gains tax aren't ready to line up behind the leading Senate proposal.@@@@1@18@@oe@2-2-2013
20990002@unknown@formal@none@1@S@Their reluctance to support the proposal is another blow to the capital-gains cut, which has had a roller-coaster existence since the beginning of the year, when it was considered dead and then suddenly revived and was passed by the House.@@@@1@40@@oe@2-2-2013
20990003@unknown@formal@none@1@S@Nevertheless, Oregon Sen. Bob Packwood, the ranking GOP member on the tax-writing Senate Finance Committee, last night introduced his plan as an amendment to a pending measure authorizing U.S. aid for Poland and Hungary.@@@@1@34@@oe@2-2-2013
20990004@unknown@formal@none@1@S@Senate Majority Leader George Mitchell (D., Maine) was confident he had enough votes to block the maneuver on procedural grounds, perhaps as soon as today.@@@@1@25@@oe@2-2-2013
20990005@unknown@formal@none@1@S@Mr. Packwood all but conceded defeat, telling Mr. Mitchell: "I sense at this stage you may have the votes."@@@@1@19@@oe@2-2-2013
20990006@unknown@formal@none@1@S@The two lawmakers sparred in a highly personal fashion, violating usual Senate decorum.@@@@1@13@@oe@2-2-2013
20990007@unknown@formal@none@1@S@Their tone was good-natured, with Mr. Packwood saying he intended to offer the proposal again and again on future legislation and Sen. Mitchell saying he intended to use procedural means to block it again and again.@@@@1@36@@oe@2-2-2013
20990008@unknown@formal@none@1@S@Although the proposal, authored by Mr. Packwood and Sen. William Roth (R., Del.), appears to have general backing by Republicans, their votes aren't sufficient to pass it.@@@@1@27@@oe@2-2-2013
20990009@unknown@formal@none@1@S@And Democrats, who are under increasing pressure from their leaders to reject the gains-tax cut, are finding reasons to say no, at least for now.@@@@1@25@@oe@2-2-2013
20990010@unknown@formal@none@1@S@A major reason is that they believe the Packwood-Roth plan would lose buckets of revenue over the long run.@@@@1@19@@oe@2-2-2013
20990011@unknown@formal@none@1@S@The Packwood-Roth proposal would reduce the tax depending on how long an asset was held.@@@@1@15@@oe@2-2-2013
20990012@unknown@formal@none@1@S@It also would create a new individual retirement account that would shield from taxation the appreciation on investments made for a wide variety of purposes, including retirement, medical expenses, first-home purchases and tuition.@@@@1@33@@oe@2-2-2013
20990013@unknown@formal@none@1@S@"A number of us are not going to touch capital gains, IRAs or anything else unless it contributes to deficit-reduction," said Sen. Charles Robb (D., Va.), who is one of the 10 to 20 Democrats who the Bush administration believes might favor giving preferential treatment to capital gains.@@@@1@48@@oe@2-2-2013
20990014@unknown@formal@none@1@S@President Bush has been hearing this kind of opposition first hand during meetings over the past two days with Democratic senators at the White House.@@@@1@25@@oe@2-2-2013
20990015@unknown@formal@none@1@S@And at a luncheon meeting Tuesday of Democratic senators, there was outspoken opposition to cutting the capital-gains tax this year, according to participants.@@@@1@23@@oe@2-2-2013
20990016@unknown@formal@none@1@S@The trend is making advocates of the tax cut less optimistic about success.@@@@1@13@@oe@2-2-2013
20990017@unknown@formal@none@1@S@"There is a one-out-of-three shot of getting it this year," said Sen. David Boren of Oklahoma, a leading Democratic proponent of cutting the capital-gains tax.@@@@1@25@@oe@2-2-2013
20990018@unknown@formal@none@1@S@He called the battle "uphill."@@@@1@5@@oe@2-2-2013
20990019@unknown@formal@none@1@S@Other Democrats who favor a capital-gains cut are even more pessimistic.@@@@1@11@@oe@2-2-2013
20990020@unknown@formal@none@1@S@"There will be no capital-gains bill this year," said Sen. Dale Bumpers (D., Ark.).@@@@1@14@@oe@2-2-2013
20990021@unknown@formal@none@1@S@"I'm probably not going to vote for any capital-gains proposal.@@@@1@10@@oe@2-2-2013
20990022@unknown@formal@none@1@S@The IRA portion (of the Packwood-Roth plan) is irresponsible."@@@@1@9@@oe@2-2-2013
20990023@unknown@formal@none@1@S@Another significant factor in the capitalgains debate is the extent to which it has become a purely political battle between President Bush and Senate Majority Leader Mitchell.@@@@1@27@@oe@2-2-2013
20990024@unknown@formal@none@1@S@Mr. Mitchell has made clear to his wavering colleagues that the issue is important to him personally.@@@@1@17@@oe@2-2-2013
20990025@unknown@formal@none@1@S@Today, Sen. Mitchell and other leading Democrats plan to turn up the heat again by holding a news conference to bash the proposal.@@@@1@23@@oe@2-2-2013
20990026@unknown@formal@none@1@S@Estimates requested by Sen. Mitchell from the Congressional Joint Taxation Committee show that the richest 100 taxpayers got an average benefit from the capital-gains differential of $13 million each in 1985, the last year for which figures are available.@@@@1@39@@oe@2-2-2013
20990027@unknown@formal@none@1@S@White House officials acknowledged yesterday that Democrats still are reluctant to publicly express support for the Packwood-Roth capital gains proposal because they are loath to buck Sen. Mitchell.@@@@1@28@@oe@2-2-2013
20990028@unknown@formal@none@1@S@As a result, the officials said they are open to making a variety of deals with Senate Democrats to win their support for a capital-gains tax cut.@@@@1@27@@oe@2-2-2013
20990029@unknown@formal@none@1@S@Democrats asked in this week for discussions with President Bush have suggested ways of "tinkering" with the Packwood-Roth proposal, suggesting an interest in looking for a modified version they can back, one official said.@@@@1@34@@oe@2-2-2013
20990030@unknown@formal@none@1@S@In addition, White House aides think that there are numerous other important measures Democrats badly wanted passed -- such as the scaling back of a controversial catastrophic health-care plan for the elderly -- that might provide the president leverage in cutting deals with Democrats.@@@@1@44@@oe@2-2-2013
20990031@unknown@formal@none@1@S@A capital-gains tax cut might be paired with such measures to help ensure passage.@@@@1@14@@oe@2-2-2013
20990032@unknown@formal@none@1@S@Other possibilities include a child-care initiative and an increase in the minimum wage.@@@@1@13@@oe@2-2-2013
20990033@unknown@formal@none@1@S@If they can't secure immediate passage of a capital-gains plan, administration officials also aren't ruling out making a deal with Congress to put off a vote until a firm date in the future, even next year.@@@@1@36@@oe@2-2-2013
20990034@unknown@formal@none@1@S@But the officials insist that such a deal on a future vote would have to apply to both the House and the Senate.@@@@1@23@@oe@2-2-2013
20990035@unknown@formal@none@1@S@Gerald F. Seib contributed to this article.@@@@1@7@@oe@2-2-2013
20990036@unknown@formal@none@1@S@Japanese immigration authorities said they found 658 more Chinese among Vietnamese boat people, bringing the number of Chinese trying to enter Japan by posing as Vietnamese refugees this year to 1,642.@@@@1@31@@oe@2-2-2013
20990037@unknown@formal@none@1@S@Japan plans to send the Chinese back home and is negotiating with the Chinese government, a Justice Ministry official said.@@@@1@20@@oe@2-2-2013
20990038@unknown@formal@none@1@S@The Chinese were among 3,372 boat people supposedly from Vietnam who arrived in Japan this year, compared with 219 for all of 1988, the official said.@@@@1@26@@oe@2-2-2013
20990039@unknown@formal@none@1@S@The 658 Chinese, who have been in a refugee-assistance center, were sent to immigration facilities yesterday pending deportation to China, the official said.@@@@1@23@@oe@2-2-2013
20990040@unknown@formal@none@1@S@On Sept. 13, Japan began a policy of screening boat people, accepting only those deemed to be political refugees.@@@@1@19@@oe@2-2-2013
20990041@unknown@formal@none@1@S@Francoise Verne, 52-year-old former deputy director of France's mint, faces prison for her theft of some 67 rare coins from the mint's collections.@@@@1@23@@oe@2-2-2013
20990042@unknown@formal@none@1@S@Second in command from 1979 to 1984, Mrs. Verne told a Paris court that the "great disorder" that reigned at the agency led her into temptation.@@@@1@26@@oe@2-2-2013
20990043@unknown@formal@none@1@S@Before an inventory in 1984 that showed the "disappearance" of 944 coins valued at about 2.9 million French francs (about $465,000), there hadn't been any stock-taking since 1868.@@@@1@28@@oe@2-2-2013
20990044@unknown@formal@none@1@S@Tony Lambert, Mrs. Verne's successor, says the mint's losses from the theft run into the hundreds of thousands of francs.@@@@1@20@@oe@2-2-2013
20990045@unknown@formal@none@1@S@El Salvador is destroying more than 1.6 million pounds of food that had rotted in government warehouses, government officials said.@@@@1@20@@oe@2-2-2013
20990046@unknown@formal@none@1@S@The state Supply Regulator Institute is to burn rice, corn and beans that spoiled because of neglect and corruption in the previous Christian Democrat government, a statement from the information service SISAL said.@@@@1@33@@oe@2-2-2013
20990047@unknown@formal@none@1@S@During the past administration the foodstuffs were first bought by the institute, then sold at low prices to "unscrupulous businessmen" who resold them to the institute at inflated prices, the statement said.@@@@1@32@@oe@2-2-2013
20990048@unknown@formal@none@1@S@A black-draped cruise liner sailed into Naples yesterday bringing 800 Libyans threatening vengeance if Italy refuses to pay compensation for more than 30 years of colonial rule.@@@@1@27@@oe@2-2-2013
20990049@unknown@formal@none@1@S@Another 250 Libyans were already in Italy to stage a day of mourning for victims of Italy's colonial rule between 1911 and 1943, when Tripoli says Rome kidnapped 5,000 Libyans and deported them as forced labor.@@@@1@36@@oe@2-2-2013
20990050@unknown@formal@none@1@S@Libya's revolutionary Committees have threatened attacks on Italians if Rome doesn't pay compensation.@@@@1@13@@oe@2-2-2013
20990051@unknown@formal@none@1@S@But officials in Rome say the issue was legally resolved by a settlement between Italy and King Idris, deposed by Col. Muammar Gadhafi in 1969.@@@@1@25@@oe@2-2-2013
20990052@unknown@formal@none@1@S@Canadian Indians are taking five countries to court in a bid to stop low military flights over their homes, the Dutch Defense Ministry said.@@@@1@24@@oe@2-2-2013
20990053@unknown@formal@none@1@S@Representatives of the Inuit and Cree peoples living in Quebec and Labrador in northeastern Canada told the ministry of the planned action at a meeting, a ministry spokesman said.@@@@1@29@@oe@2-2-2013
20990054@unknown@formal@none@1@S@They also wanted to prevent a NATO training base being built in the region, he said.@@@@1@16@@oe@2-2-2013
20990055@unknown@formal@none@1@S@The action, in the Canadian Federal Court, will be against Canada, the Netherlands, West Germany, Britain and the U.S., the ministry spokesman said.@@@@1@23@@oe@2-2-2013
20990056@unknown@formal@none@1@S@Japan suspended imports of French mushrooms after finding some contaminated by radiation, an official of the Ministry of Health and Welfare said.@@@@1@22@@oe@2-2-2013
20990057@unknown@formal@none@1@S@Japan has been testing imported food from Europe since the April 1986 Chernobyl accident in the Soviet Union, the spokesman said.@@@@1@21@@oe@2-2-2013
20990058@unknown@formal@none@1@S@Since then, the ministry has announced 50 bans on food imports from European countries, including Italy, Spain, Turkey, Greece and the Soviet Union.@@@@1@23@@oe@2-2-2013
20990059@unknown@formal@none@1@S@The Venice city council is battling plans to tap huge gas fields off the coast that it says will speed up the city's slow sinking into its lagoon.@@@@1@28@@oe@2-2-2013
20990060@unknown@formal@none@1@S@AGIP, the state-owned energy giant, made the announcement about the gas field last month.@@@@1@14@@oe@2-2-2013
20990061@unknown@formal@none@1@S@Located six miles northeast of Venice, the field contains 875 billion cubic feet of methane gas-one-tenth of Italy's reserves.@@@@1@19@@oe@2-2-2013
20990062@unknown@formal@none@1@S@Alarmed councilors say the project could jeopardize costly efforts to stop, or slow down, the subsidence that makes Venice subject to regular and destructive flooding.@@@@1@25@@oe@2-2-2013
20990063@unknown@formal@none@1@S@The council unanimously opposed the idea of AGIP pumping out the methane gas and swiftly appealed to the company and to Prime Minister Giulio Andreotti, who has yet to reply.@@@@1@30@@oe@2-2-2013
20990064@unknown@formal@none@1@S@AGIP refused to reconsider and says drilling is due to start early next year.@@@@1@14@@oe@2-2-2013
20990065@unknown@formal@none@1@S@"It's unlikely extracting the gas will cause subsidence," says a spokeswoman.@@@@1@11@@oe@2-2-2013
20990066@unknown@formal@none@1@S@Thieves stole a 12th century fresco from an abandoned church in Camerino, Italy, by removing the entire wall on which the work had been painted, police said. . . .@@@@1@30@@oe@2-2-2013
20990067@unknown@formal@none@1@S@West Germany's BMW commissioned the Nuremberg post office to test a prototype battery-powered car.@@@@1@14@@oe@2-2-2013
20990068@unknown@formal@none@1@S@The vehicle has a top speed of 65 miles an hour and requires recharging from a standard wall socket every 100 miles.@@@@1@22@@oe@2-2-2013
20991001@unknown@formal@none@1@S@Total Assets Protection Inc., rebounding from its earlier loss, expects to report earnings from operations of about $200,000 for the third quarter, J.C. Matlock, chairman, said.@@@@1@26@@oe@2-2-2013
20991002@unknown@formal@none@1@S@Net income includes an extraordinary gain of about $100,000 from the reversal of bad debt and interest income.@@@@1@18@@oe@2-2-2013
20991003@unknown@formal@none@1@S@Revenue was about $4.5 million.@@@@1@5@@oe@2-2-2013
20991004@unknown@formal@none@1@S@In the 1988 third quarter, the company posted a net loss of $876,706, or 22 cents a share, on revenue of about $5.1 million.@@@@1@24@@oe@2-2-2013
20991005@unknown@formal@none@1@S@Total Assets plans and designs computer centers, computer security systems and computer backup systems.@@@@1@14@@oe@2-2-2013
20992001@unknown@formal@none@1@S@Regarding your Oct. 4 page-one article "Bad Blood" on the generic-drug battle: The Epilepsy Institute is not just a patient-advocacy organization.@@@@1@21@@oe@2-2-2013
20992002@unknown@formal@none@1@S@It is primarily a certified outpatient treatment facility providing comprehensive services to people with epilepsy and their families.@@@@1@18@@oe@2-2-2013
20992003@unknown@formal@none@1@S@The institute's advocacy efforts are based on the needs of the population it serves and represents.@@@@1@16@@oe@2-2-2013
20992004@unknown@formal@none@1@S@In 1985, the Medical Tribune reported that a growing number of critics are challenging the FDA bioequivalence-therapeutic-equivalence equation.@@@@1@18@@oe@2-2-2013
20992005@unknown@formal@none@1@S@"They contend it is based on an assumption that has not yet been proven in valid tests," the Tribune said.@@@@1@20@@oe@2-2-2013
20992006@unknown@formal@none@1@S@In 1986, some institute patients were reporting breakthrough seizures when they were switched from a specific brand-name medication to a generic one or from one generic manufacturer of a specific product to another.@@@@1@33@@oe@2-2-2013
20992007@unknown@formal@none@1@S@In addition, neurologists were beginning to report these observations as well.@@@@1@11@@oe@2-2-2013
20992008@unknown@formal@none@1@S@Call it anecdotal if you will.@@@@1@6@@oe@2-2-2013
20992009@unknown@formal@none@1@S@But no ethical physician would switch patients who were doing well on a specific medication from a specific manufacturer to prove a point.@@@@1@23@@oe@2-2-2013
20992010@unknown@formal@none@1@S@We do not depend on pharmaceutical companies for our support.@@@@1@10@@oe@2-2-2013
20992011@unknown@formal@none@1@S@The institute has governmental service contracts for the provision of direct patient services; collects patient fees; receives money through contributions from individuals, foundations and bequests.@@@@1@25@@oe@2-2-2013
20992012@unknown@formal@none@1@S@The funds received from pharmaceutical firms are used to offset physician symposiums, and these symposiums do not stress any particular medication or manufacturer.@@@@1@23@@oe@2-2-2013
20992013@unknown@formal@none@1@S@The Epilepsy Institute's reporting of breakthrough seizures stemmed from concerns about the people we treat and care about daily.@@@@1@19@@oe@2-2-2013
20992014@unknown@formal@none@1@S@This perhaps was perceived as a "bold" stance, and thus suspicious.@@@@1@11@@oe@2-2-2013
20992015@unknown@formal@none@1@S@But let us not confuse profits of big business masquerading as concerns for people's health care or for the cost.@@@@1@20@@oe@2-2-2013
20992016@unknown@formal@none@1@S@For whom is the saving?@@@@1@5@@oe@2-2-2013
20992017@unknown@formal@none@1@S@Surely not to people with epilepsy who depend on the same levels of medication in their bloodstream daily to maintain seizure control.@@@@1@22@@oe@2-2-2013
20992018@unknown@formal@none@1@S@Reina Berner@@@@1@2@@oe@2-2-2013
20992019@unknown@formal@none@1@S@Executive Director@@@@1@2@@oe@2-2-2013
20992020@unknown@formal@none@1@S@Arnold M. Katz@@@@1@3@@oe@2-2-2013
20993001@unknown@formal@none@1@S@Parker Hannifin Corp. said it agreed to sell its three automotive parts divisions to a management-led investor group for $80 million.@@@@1@21@@oe@2-2-2013
20993002@unknown@formal@none@1@S@The buy-out group is headed by Paul R. Lederer, president of Parker's automotive group, and includes several other executives of the three divisions.@@@@1@23@@oe@2-2-2013
20993003@unknown@formal@none@1@S@The units are the Edelmann, Ideal and Plews divisions.@@@@1@9@@oe@2-2-2013
20993004@unknown@formal@none@1@S@Net sales for the units for the fiscal year ended June 30 were $135.6 million.@@@@1@15@@oe@2-2-2013
20993005@unknown@formal@none@1@S@Parker officials said the company is selling the units to focus on its other businesses.@@@@1@15@@oe@2-2-2013
20994001@unknown@formal@none@1@S@A volcano will erupt next month on the fabled Strip: a 60-foot mountain spewing smoke and flame every five minutes.@@@@1@20@@oe@2-2-2013
20994002@unknown@formal@none@1@S@The man-made inferno will tower over a man-made lagoon with more than four acres of pools, grottoes and waterfalls.@@@@1@19@@oe@2-2-2013
20994003@unknown@formal@none@1@S@Visitors, whisked from the Strip on a moving walkway, will glide over a habitat for rare white tigers, which will star in performances by the famed illusionist team of Siegfried & Roy.@@@@1@32@@oe@2-2-2013
20994004@unknown@formal@none@1@S@Nearby, six dolphins will frolic in a 1.5 million-gallon saltwater aquarium.@@@@1@11@@oe@2-2-2013
20994005@unknown@formal@none@1@S@At the core of all this stands a hotel.@@@@1@9@@oe@2-2-2013
20994006@unknown@formal@none@1@S@In the lobby behind its nine-story, orchid-strewn atrium, a 20,000-gallon aquarium will come alive with sharks, stingrays, angelfish, puffers and other creatures of the deep.@@@@1@25@@oe@2-2-2013
20994007@unknown@formal@none@1@S@And oh, yes.@@@@1@3@@oe@2-2-2013
20994008@unknown@formal@none@1@S@There's a casino, the financial heart of it all.@@@@1@9@@oe@2-2-2013
20994009@unknown@formal@none@1@S@This is the Mirage, a $630 million island-fantasy hotel-casino now being completed for opening in November by Golden Nugget Inc.@@@@1@20@@oe@2-2-2013
20994010@unknown@formal@none@1@S@It's the most stunning example of Las Vegas's concerted effort to transform itself into a world-famous vacation resort for families as well as gamblers.@@@@1@24@@oe@2-2-2013
20994011@unknown@formal@none@1@S@Las Vegas has seen nothing quite like it before.@@@@1@9@@oe@2-2-2013
20994012@unknown@formal@none@1@S@Not for 15 years has a big new hotel-casino opened here.@@@@1@11@@oe@2-2-2013
20994013@unknown@formal@none@1@S@Now the Mirage and Circus Circus Enterprises Inc.'s $290 million Excalibur are going up.@@@@1@14@@oe@2-2-2013
20994014@unknown@formal@none@1@S@The Excalibur, with a castlelike hotel, jousting tournaments and other Arthurian attractions, will be able to handle up to 30,000 visitors a day when it opens in 1990.@@@@1@28@@oe@2-2-2013
20994015@unknown@formal@none@1@S@If MGM Grand Inc. proceeds with its plan for an amusement park -- a $700 million movieland resort with a working studio, casino and 5,000-room hotel that would become Las Vegas's biggest -- the investment in the three properties will total some $1.6 billion.@@@@1@44@@oe@2-2-2013
20994016@unknown@formal@none@1@S@MGM Grand has agreed to buy a 117-acre site for the resort for $93 million in cash plus stock currently valued at nearly $30 million.@@@@1@25@@oe@2-2-2013
20994017@unknown@formal@none@1@S@Smaller projects swell the figure to at least $2.5 billion.@@@@1@10@@oe@2-2-2013
20994018@unknown@formal@none@1@S@Still other projects that have been announced but not yet started could put expenditures above $3 billion over the next few years.@@@@1@22@@oe@2-2-2013
20994019@unknown@formal@none@1@S@Stephen A. Wynn, who owns 29.4% of Golden Nugget's shares, says the Mirage and other projects will help Las Vegas attract a whole new generation of visitors.@@@@1@27@@oe@2-2-2013
20994020@unknown@formal@none@1@S@"If you create a wonderment, if you create something so exciting that the public dreams of being part of it, then they'll come," he says.@@@@1@25@@oe@2-2-2013
20994021@unknown@formal@none@1@S@The projects already under construction will increase Las Vegas's supply of hotel rooms by 11,795, or nearly 20%, to 75,500.@@@@1@20@@oe@2-2-2013
20994022@unknown@formal@none@1@S@By a rule of thumb of 1.5 new jobs for each new hotel room, Clark County will have nearly 18,000 new jobs.@@@@1@22@@oe@2-2-2013
20994023@unknown@formal@none@1@S@The county at the end of 1988 had 307,000 jobs, 95,400 of them in the tourist industry.@@@@1@17@@oe@2-2-2013
20994024@unknown@formal@none@1@S@Projects in the talking or blueprint stage would add a further 48,000 rooms.@@@@1@13@@oe@2-2-2013
20994025@unknown@formal@none@1@S@Hotel-casino operators play down the possibility of a labor shortage.@@@@1@10@@oe@2-2-2013
20994026@unknown@formal@none@1@S@After all, 40,000 newcomers a year are settling in the Las Vegas Valley.@@@@1@13@@oe@2-2-2013
20994027@unknown@formal@none@1@S@But Nevada state labor economists think a shortage is probable.@@@@1@10@@oe@2-2-2013
20994028@unknown@formal@none@1@S@Nobody yet seems to have calculated the total number of slot machines, crap tables or roulette wheels Las Vegas will add to the enormous store that Lady Luck already guards here, much less the ultimate impact of the growth on schools and municipal services.@@@@1@44@@oe@2-2-2013
20994029@unknown@formal@none@1@S@"Traffic is certainly a concern, as is pollution, water and an adequate labor market," says Frank Sain, executive director of the Las Vegas Convention and Visitors Bureau.@@@@1@27@@oe@2-2-2013
20994030@unknown@formal@none@1@S@City fathers have managed to push through projects that are crucial for tourist growth, such as the expansion of McCarran International Airport to accommodate the 44% of Las Vegas tourists who fly here.@@@@1@33@@oe@2-2-2013
20994031@unknown@formal@none@1@S@This year, by one means of transport or another, more than 18 million people will visit the city.@@@@1@18@@oe@2-2-2013
20994032@unknown@formal@none@1@S@The expansion will set off a marketing war among the big hotel-casinos.@@@@1@12@@oe@2-2-2013
20994033@unknown@formal@none@1@S@Las Vegas promises, or threatens, to become a giant carnival, with rooms to be had for $45 a day or less, for visitors uninspired solely by gambling.@@@@1@27@@oe@2-2-2013
20994034@unknown@formal@none@1@S@Amid a riot of jousting knights, circus clowns, gold-leaf centurions and creatures of the wild, lesser competitors will fall.@@@@1@19@@oe@2-2-2013
20994035@unknown@formal@none@1@S@Caesars World Inc. plans to defend its august reputation by sinking $190 million into its opulent Caesars Palace, next door to the new Mirage, and adding a $100 million shopping area reminiscent of Rodeo Drive.@@@@1@35@@oe@2-2-2013
20994036@unknown@formal@none@1@S@The Palace, with its marble fountains and toga parties for high rollers, is already well-known for its Caesarean theme.@@@@1@19@@oe@2-2-2013
20994037@unknown@formal@none@1@S@The Flamingo Hilton, Imperial Palace, Frontier and others are pouring millions of dollars into facelifts, new room towers and casino floor space just to keep up.@@@@1@26@@oe@2-2-2013
20994038@unknown@formal@none@1@S@Where's this huge amount of investment capital coming from?@@@@1@9@@oe@2-2-2013
20994039@unknown@formal@none@1@S@Golden Nugget, Drexel Burnham Lambert Inc.'s first casino client, has borrowed on more than $600 million worth of mortgage notes, mostly sold to private investors by Drexel, to build the Mirage.@@@@1@31@@oe@2-2-2013
20994040@unknown@formal@none@1@S@Other casino owners, Circus Circus among them, are financing their expansion with their own cash and revolving credit lines from local lenders such as First Interstate Bank of Nevada.@@@@1@29@@oe@2-2-2013
20994041@unknown@formal@none@1@S@Will the investments pay off?@@@@1@5@@oe@2-2-2013
20994042@unknown@formal@none@1@S@The growth of Las Vegas tourism in recent years persuades lenders that they will.@@@@1@14@@oe@2-2-2013
20994043@unknown@formal@none@1@S@Casino revenues and hotel occupancy rates are high.@@@@1@8@@oe@2-2-2013
20994044@unknown@formal@none@1@S@Last year, the tourists left $3 billion with the area's casinos, nearly 10% more than in 1987.@@@@1@17@@oe@2-2-2013
20994045@unknown@formal@none@1@S@The people with a stake in Nevada's gambling industry believe that they have barely tapped the potentially huge family trade.@@@@1@20@@oe@2-2-2013
20994046@unknown@formal@none@1@S@"If you build a better mousetrap, it will catch more mice," says Fred Benninger, chairman of MGM Grand.@@@@1@18@@oe@2-2-2013
20994047@unknown@formal@none@1@S@Ellen Cokely, a tourist from Alton, Ill., seems inclined to agree.@@@@1@11@@oe@2-2-2013
20994048@unknown@formal@none@1@S@"I'd love it if my daughter had something else to do here," says Ms. Cokely, watching seven-year-old Kristin on the water slide at the Strip's Wet 'n' Wild water park.@@@@1@30@@oe@2-2-2013
20994049@unknown@formal@none@1@S@"Two generations ago, Dad came to Las Vegas by himself for a little diversion," says Van Heffner, executive vice president of the Nevada Hotel and Motel Association.@@@@1@27@@oe@2-2-2013
20994050@unknown@formal@none@1@S@"One generation ago, Mom joined Dad.@@@@1@6@@oe@2-2-2013
20994051@unknown@formal@none@1@S@Now, in the '90s, we're headed toward a total resort environment."@@@@1@11@@oe@2-2-2013
20994052@unknown@formal@none@1@S@Only a decade or so ago, casino managers balked at in-room TV sets and other fripperies that distracted from gambling.@@@@1@20@@oe@2-2-2013
20994053@unknown@formal@none@1@S@Casinos today offer bowling alleys, water parks, golf courses, tennis courts, lush swimming pools and other diversions, and more such facilities are being designed.@@@@1@24@@oe@2-2-2013
20994054@unknown@formal@none@1@S@Despite the new emphasis on the family trade, however, tourists in search of naughtier fun than gambling seem certain to find it, with Las Vegas call girls remaining on the scene.@@@@1@31@@oe@2-2-2013
20994055@unknown@formal@none@1@S@A serious economic downturn, pessimists observe, could hurt the expansionists.@@@@1@10@@oe@2-2-2013
20994056@unknown@formal@none@1@S@For now, however, the naysayers' voices are drowned by the roar of cement mixers and the clanging of construction cranes along the Strip.@@@@1@23@@oe@2-2-2013
20994057@unknown@formal@none@1@S@This is no place for pedestrians, but at 7:30 on a recent morning, when construction choked traffic at the famous Four Corners intersection to one lane, a taxi passenger found it faster to abandon the cab and walk to her destination.@@@@1@41@@oe@2-2-2013
20994058@unknown@formal@none@1@S@The ferocious competition probably will drive some poorly managed properties into bankruptcy or new ownership.@@@@1@15@@oe@2-2-2013
20994059@unknown@formal@none@1@S@It has happened before.@@@@1@4@@oe@2-2-2013
20994060@unknown@formal@none@1@S@The Dunes, the Aladdin and the Riviera were all acquired by the present owners from bankruptcy proceedings spawned by the last recession, in the early 1980s.@@@@1@26@@oe@2-2-2013
20994061@unknown@formal@none@1@S@Yet that hasn't discouraged investors.@@@@1@5@@oe@2-2-2013
20994062@unknown@formal@none@1@S@Some have bought big chunks of Strip property for what may turn into another wave of building.@@@@1@17@@oe@2-2-2013
20994063@unknown@formal@none@1@S@Atlantic City casino owner Donald Trump is scouting the Las Vegas market with an eye toward building an appropriately spectacular place.@@@@1@21@@oe@2-2-2013
20994064@unknown@formal@none@1@S@Even before the huge new projects began, the Strip's recent expansion squeezed smaller competitors.@@@@1@14@@oe@2-2-2013
20994065@unknown@formal@none@1@S@Many blue-collar customers of downtown's no-frills gambling spots have been lured to the Strip or to Laughlin, Nev., a Colorado River town catering to snowbirds and the recreational-vehicle crowd.@@@@1@29@@oe@2-2-2013
20994066@unknown@formal@none@1@S@Hotel expansion and an influx of more-discriminating tourists have hurt motels.@@@@1@11@@oe@2-2-2013
20994067@unknown@formal@none@1@S@Since 1979, the number of motel rooms has fallen by 17,000.@@@@1@11@@oe@2-2-2013
20994068@unknown@formal@none@1@S@Many people here expect a room-rate war as the new projects open.@@@@1@12@@oe@2-2-2013
20994069@unknown@formal@none@1@S@"There's probably going to be some pressure on occupancy and room rates over the next year, but after that you should see the market return to 80%-plus occupancy and regular rates," says Paul Rubeli, casino executive at Ramada Inc., which runs the Tropicana.@@@@1@43@@oe@2-2-2013
20994070@unknown@formal@none@1@S@Skeptics wonder whether mega-resorts such as the Mirage will be able to squeeze a profit from their cash flow.@@@@1@19@@oe@2-2-2013
20994071@unknown@formal@none@1@S@The Mirage will cost at least $1 million a day to operate.@@@@1@12@@oe@2-2-2013
20994072@unknown@formal@none@1@S@Mr. Wynn seems confident that it will produce a healthy profit, but some securities analysts doubt it.@@@@1@17@@oe@2-2-2013
20994073@unknown@formal@none@1@S@Competitors and analysts say that among large existing properties Bally Manufacturing Corp.'s Bally Grand hotel-casino probably will be hardest hit among major properties.@@@@1@23@@oe@2-2-2013
20994074@unknown@formal@none@1@S@Bally officials decline to discuss the situation.@@@@1@7@@oe@2-2-2013
20994075@unknown@formal@none@1@S@Bally bought the former MGM Grand hotel-casino from Kirk Kerkorian four years ago.@@@@1@13@@oe@2-2-2013
20994076@unknown@formal@none@1@S@Only now is it undergoing a badly needed facelift.@@@@1@9@@oe@2-2-2013
20994077@unknown@formal@none@1@S@Its parking lot is inconvenient, the MGM lion's-head logo still appears in places, and customers still call it the Grand, rather than the Bally Grand.@@@@1@25@@oe@2-2-2013
20994078@unknown@formal@none@1@S@It has a "great location, but they're going to have some real problems when everyone around them opens," says Daniel Lee, a Drexel analyst.@@@@1@24@@oe@2-2-2013
20994079@unknown@formal@none@1@S@Older properties that still have a 1950s image are also vulnerable.@@@@1@11@@oe@2-2-2013
20994080@unknown@formal@none@1@S@Any hotel-casino without a strong identity will get whacked by the new competition, says Glenn Schaeffer, senior vice president of Circus Circus.@@@@1@22@@oe@2-2-2013
20994081@unknown@formal@none@1@S@"If you don't know what you are, bigger won't make you better," he says.@@@@1@14@@oe@2-2-2013
20994082@unknown@formal@none@1@S@"But it'll sure make you poorer."@@@@1@6@@oe@2-2-2013
20994083@unknown@formal@none@1@S@Circus Circus's flagship casino has become the envy of competitors for its ability to vacuum cash from the pockets of vacationing families.@@@@1@22@@oe@2-2-2013
20994084@unknown@formal@none@1@S@The Circus Circus lures them with low room rates, inexpensive buffets and entertainment for children at no extra charge.@@@@1@19@@oe@2-2-2013
20994085@unknown@formal@none@1@S@The company's Excalibur will also appeal to families, of course.@@@@1@10@@oe@2-2-2013
20994086@unknown@formal@none@1@S@Its castle, Mr. Schaeffer says, will be "the most compelling piece of folk architecture ever built."@@@@1@16@@oe@2-2-2013
20994087@unknown@formal@none@1@S@Some casino owners have resisted the temptation to add rooms.@@@@1@10@@oe@2-2-2013
20994088@unknown@formal@none@1@S@Instead, they are spending to reinforce the identity that they believe attracts their customers.@@@@1@14@@oe@2-2-2013
20994089@unknown@formal@none@1@S@"More rooms aren't the answer for us," says Caesars World chairman Henry Gluck.@@@@1@13@@oe@2-2-2013
20994090@unknown@formal@none@1@S@While his company's hotel is building a retail complex in Beverly Hills style and redoing existing rooms, it has decreased the number of its rooms.@@@@1@25@@oe@2-2-2013
20994091@unknown@formal@none@1@S@Some have been combined into suites for the high rollers.@@@@1@10@@oe@2-2-2013
20994092@unknown@formal@none@1@S@Caesars has made a specialty of catering to high rollers from abroad, who are also being aggressively courted by the Mirage, the Las Vegas Hilton and others.@@@@1@27@@oe@2-2-2013
20994093@unknown@formal@none@1@S@Other, smaller concerns are also pursuing market niches -- Hawaiian tourists, for example, or the local trade.@@@@1@17@@oe@2-2-2013
20994094@unknown@formal@none@1@S@"There's still room for boutique properties," says James Barrett, president of MarCor Resorts Inc.@@@@1@14@@oe@2-2-2013
20994095@unknown@formal@none@1@S@Off the Strip, MarCor is building the Rio, a hotel-casino with a Brazilian theme and only 430 rooms -- all of them suites.@@@@1@23@@oe@2-2-2013
20994096@unknown@formal@none@1@S@Despite the proliferation of tourist distractions, Las Vegans haven't forgot that gambling is still what the town is all about.@@@@1@20@@oe@2-2-2013
20994097@unknown@formal@none@1@S@"The days when when the thrust of casinos was all high rollers, with no windows and clocks and lots of red and black decor, are gone," Mr. Sain of the visitors' bureau says.@@@@1@33@@oe@2-2-2013
20994098@unknown@formal@none@1@S@"But 93% of tourists still come for gambling.@@@@1@8@@oe@2-2-2013
20994099@unknown@formal@none@1@S@We can't lose sight of that.@@@@1@6@@oe@2-2-2013
20995001@unknown@formal@none@1@S@NORTH SIDE SAVINGS BANK directors declared an initial dividend of 10 cents a share, payable Dec. 5 to stock of record Nov. 21.@@@@1@23@@oe@2-2-2013
20995002@unknown@formal@none@1@S@The Floral Park, N.Y., thrift has a strong capital-to-assets ratio, said Vice President Michael D.N. Confer.@@@@1@16@@oe@2-2-2013
20995003@unknown@formal@none@1@S@At Sept. 30, the thrift, which converted to a stock form of ownership from a mutual form in April 1986, had more than four million shares outstanding.@@@@1@27@@oe@2-2-2013
20996001@unknown@formal@none@1@S@ARTICLE I, SECTION 7, CLAUSE 2:@@@@1@6@@oe@2-2-2013
20996002@unknown@formal@none@1@S@Every Bill which shall have passed the House of Representatives and the Senate, shall, before it becomes a Law, be presented to the President of the United States; If he approve he shall sign it, but if not he shall return it, with his Objections to that House in which it shall have originated, who shall enter the Objections at large on their Journal, and proceed to reconsider it.@@@@1@69@@oe@2-2-2013
20996003@unknown@formal@none@1@S@If after such Reconsideration two thirds of that House shall agree to pass the Bill, it shall be sent, together with the Objections, to the other House, by which it shall likewise be reconsidered, and if approved by two thirds of that House, it shall become a Law. . . .@@@@1@51@@oe@2-2-2013
20996004@unknown@formal@none@1@S@ARTICLE I, SECTION 7, CLAUSE 3:@@@@1@6@@oe@2-2-2013
20996005@unknown@formal@none@1@S@Every Order, Resolution, or Vote to which the Concurrence of the Senate and House of Representatives may be necessary (except on a question of Adjournment) shall be presented to the President of the United States; and before the Same shall take Effect, shall be approved by him, or being disapproved by him, shall be repassed by two thirds of the Senate and House of Representatives, according to the Rules and Limitations prescribed in the Case of a Bill.@@@@1@78@@oe@2-2-2013
20996006@unknown@formal@none@1@S@President Bush told reporters a few months ago that he was looking for the right test case to see whether he already has the line-item veto.@@@@1@26@@oe@2-2-2013
20996007@unknown@formal@none@1@S@Vice President Quayle and Budget Director Darman said recently they've joined the search.@@@@1@13@@oe@2-2-2013
20996008@unknown@formal@none@1@S@On Tuesday, the subject came up again when Marlin Fitzwater explained the constitutional argument based on the provisions above to the White House press corps.@@@@1@25@@oe@2-2-2013
20996009@unknown@formal@none@1@S@President Bush doesn't have any provision in mind, but line-item-veto bait will be like earthworms at midnight in the coming Continuing Resolution.@@@@1@22@@oe@2-2-2013
20996010@unknown@formal@none@1@S@The harder question is whether anyone yet understands that Mr. Bush's fight for his constitutional prerogatives is about politics as much as it is about law.@@@@1@26@@oe@2-2-2013
20996011@unknown@formal@none@1@S@We have been persuaded by the constitutional argument for the inherent line-item veto since 1987, when lawyer Stephen Glazier first made the case on this page.@@@@1@26@@oe@2-2-2013
20996012@unknown@formal@none@1@S@The 1974 budget "reform," passed over President Nixon's veto, took away the presidential impoundment power, thereby introducing monstrous CRs and eviscerating the presidential veto.@@@@1@24@@oe@2-2-2013
20996013@unknown@formal@none@1@S@Mr. Glazier discovered that the Founders had worried that Congress might take the President out of the loop.@@@@1@18@@oe@2-2-2013
20996014@unknown@formal@none@1@S@Article I, Section 7, Clause 3 says that whether it's called an "order, resolution or vote" or anything else, Presidents must have the chance to veto.@@@@1@26@@oe@2-2-2013
20996015@unknown@formal@none@1@S@Labeling an omnibus budget a "bill" can't deprive the President of his power to veto items.@@@@1@16@@oe@2-2-2013
20996016@unknown@formal@none@1@S@Finding a test case shouldn't be hard, but there is something to be said for picking the best one possible.@@@@1@20@@oe@2-2-2013
20996017@unknown@formal@none@1@S@The White House had the perfect case, but Congress blinked before it could go to court.@@@@1@16@@oe@2-2-2013
20996018@unknown@formal@none@1@S@After the HUD and S&L stories broke, some Congressmen began to worry that their influence peddling at executive-branch and independent agencies might some day get them in trouble.@@@@1@28@@oe@2-2-2013
20996019@unknown@formal@none@1@S@They worried about an Interior Department directive to log all communications with Members or their staffs.@@@@1@16@@oe@2-2-2013
20996020@unknown@formal@none@1@S@Congress inserted the following into the Interior appropriation: "None of the funds available under this title may be used to prepare reports on contacts between employees of the Dept. of the Interior and Members and committees of Congress and their staff."@@@@1@41@@oe@2-2-2013
20996021@unknown@formal@none@1@S@The White House warned that this would be an unconstitutional usurpation of its power.@@@@1@14@@oe@2-2-2013
20996022@unknown@formal@none@1@S@When it threatened to use this provision as the test for a line-item veto, Congress caved.@@@@1@16@@oe@2-2-2013
20996023@unknown@formal@none@1@S@The fear Congress has of any line-item-veto test led Members to add the single most contorted and ridiculous provision this year, "This section shall be effective only on Oct. 1, 1989."@@@@1@31@@oe@2-2-2013
20996024@unknown@formal@none@1@S@This means Interior contacts cannot be logged only on one day -- a Sunday that had already passed.@@@@1@18@@oe@2-2-2013
20996025@unknown@formal@none@1@S@If the White House is looking for another unconstitutional bill, Rep. John Dingell is trying again to raise the Fairness Doctrine from the dead.@@@@1@24@@oe@2-2-2013
20996026@unknown@formal@none@1@S@President Reagan vetoed this as a First Amendment violation.@@@@1@9@@oe@2-2-2013
20996027@unknown@formal@none@1@S@The "Fairness" Doctrine's enthusiasts are incumbents in the House who know the rules squelch lively discussions on broadcasts, deterring feisty challengers.@@@@1@21@@oe@2-2-2013
20996028@unknown@formal@none@1@S@There are also other provisions requiring Congressmen to join treaty-negotiating teams and new restrictions on OMB.@@@@1@16@@oe@2-2-2013
20996029@unknown@formal@none@1@S@Unconstitutional bills make good legal targets, but the line-item veto is better understood as a political opportunity than as mere fodder for lawyers.@@@@1@23@@oe@2-2-2013
20996030@unknown@formal@none@1@S@Commenting on the budget mess this week, President Bush said: "The perception out there is that it's the fault of Congress.@@@@1@21@@oe@2-2-2013
20996031@unknown@formal@none@1@S@And you can look to the leadership and ask them why that is the perception of the American people."@@@@1@19@@oe@2-2-2013
20996032@unknown@formal@none@1@S@Exactly right.@@@@1@2@@oe@2-2-2013
20996033@unknown@formal@none@1@S@Now's the time to make the political case that Presidents need the line-item weapon to restore discipline to the budget.@@@@1@20@@oe@2-2-2013
20996034@unknown@formal@none@1@S@Congress is in no position to naysay Mr. Bush now that we're into Gramm-Rudman's sequestration.@@@@1@15@@oe@2-2-2013
20996035@unknown@formal@none@1@S@Just this week, the House-Senate conference met -- 231 conferees, divided into 26 different subconferences.@@@@1@15@@oe@2-2-2013
20996036@unknown@formal@none@1@S@Senator Daniel Inouye agreed to close some bases in Hawaii in exchange for such goodies as $11 million for a parking lot at Walter Reed Hospital.@@@@1@26@@oe@2-2-2013
20996037@unknown@formal@none@1@S@Conference negotiator Rep. Bill Hefner pulled down $40 million in military bases for North Carolina and graciously allowed Senator James Sasser $70 million for bases in Tennessee.@@@@1@27@@oe@2-2-2013
20996038@unknown@formal@none@1@S@President Bush should take the Constitution in one hand and a budget ax in the other and get to work.@@@@1@20@@oe@2-2-2013
20996039@unknown@formal@none@1@S@He should chop out both unconstitutional provisions and budget pork.@@@@1@10@@oe@2-2-2013
20996040@unknown@formal@none@1@S@Congress may have lost any sense of discipline, but that doesn't mean the country must learn to live forever with this mess.@@@@1@22@@oe@2-2-2013
20996041@unknown@formal@none@1@S@President Bush has the power to change how Washington works, if only he will use it.@@@@1@16@@oe@2-2-2013
20997001@unknown@formal@none@1@S@Troubled SCI Television Inc. proposed to restructure much of its $1.3 billion in debt to buy time to sell assets and pay its obligations.@@@@1@24@@oe@2-2-2013
20997002@unknown@formal@none@1@S@The leveraged buy-out firm of Kohlberg Kravis Roberts & Co., which owns 46% of the common equity of SCI TV, indicated in the debt plan that it would reduce its equity stake to 15%, giving the rest of its stake to bondholders in the restructuring.@@@@1@45@@oe@2-2-2013
20997003@unknown@formal@none@1@S@KKR also signaled to the company's creditors that Henry Kravis and other KKR directors of SCI TV would resign from the board once the restructuring is completed and forgo their voting rights.@@@@1@32@@oe@2-2-2013
20997004@unknown@formal@none@1@S@Holders of SCI TV's $507 million of high-yield junk bonds are being asked to forgive a lot of debt in exchange for taking a 39% equity stake in SCI TV.@@@@1@30@@oe@2-2-2013
20997005@unknown@formal@none@1@S@They immediately termed the proposal inadequate and said the restructuring would not solve the company's problems.@@@@1@16@@oe@2-2-2013
20997006@unknown@formal@none@1@S@"I think the current plan is sufficiently flawed in a sufficient number of bondholders' eyes that substantial revisions will be required to get it done," says analyst Craig Davis of R.D. Smith & Co. here.@@@@1@35@@oe@2-2-2013
20997007@unknown@formal@none@1@S@Investors interpreted the KKR move as a desire by the firm to wash its hands of SCI TV.@@@@1@18@@oe@2-2-2013
20997008@unknown@formal@none@1@S@But a spokesman for KKR says that with only a 15% equity stake, it wouldn't be appropriate for KKR to keep board representation.@@@@1@23@@oe@2-2-2013
20997009@unknown@formal@none@1@S@KKR already has made about $1 billion of gains from earlier transactions with SCI TV, thus it isn't significantly affected by the company's troubles.@@@@1@24@@oe@2-2-2013
20997010@unknown@formal@none@1@S@SCI TV, which is controlled by Nashville, Tenn., entrepreneur George Gillett, owns six TV stations, including several CBS Inc. affiliates.@@@@1@20@@oe@2-2-2013
20997011@unknown@formal@none@1@S@It is having trouble meeting its debt payments because of heavy borrowing in 1987 for a leveraged buy-out.@@@@1@18@@oe@2-2-2013
20997012@unknown@formal@none@1@S@Through investment banker Drexel Burnham Lambert Inc., SCI TV is offering to exchange three classes of junk bonds for packages of new bonds and equity that investors value at ranges from 20 cents to 70 cents on the dollar.@@@@1@39@@oe@2-2-2013
20997013@unknown@formal@none@1@S@KKR would give up a 31% equity stake to bondholders, while Mr. Gillett would surrender an 8% stake.@@@@1@18@@oe@2-2-2013
20997014@unknown@formal@none@1@S@While one big SCI TV investor thinks that's pretty generous, many junkholders had been hoping that KKR and Mr. Gillett would invest new money in SCI TV.@@@@1@27@@oe@2-2-2013
20997015@unknown@formal@none@1@S@Those investors think SCI TV needs new equity to survive.@@@@1@10@@oe@2-2-2013
20997016@unknown@formal@none@1@S@SCI TV's debt restructuring plan would defer payment of $153 million of bank debt.@@@@1@14@@oe@2-2-2013
20997017@unknown@formal@none@1@S@It also would defer interest and principal on junk bonds that have fallen due; the grace period for paying the bill expires Nov. 16.@@@@1@24@@oe@2-2-2013
20997018@unknown@formal@none@1@S@At the same time, investors estimate the restructuring would cut the company's annual cash interest bill from about $90 million to $85 million.@@@@1@23@@oe@2-2-2013
20997019@unknown@formal@none@1@S@Yet to pay that interest bill, analysts say SCI TV will only produce about $80 million to $90 million of cash flow a year.@@@@1@24@@oe@2-2-2013
20998001@unknown@formal@none@1@S@Office Market Weakens In Overbuilt Northeast@@@@1@6@@oe@2-2-2013
20998002@unknown@formal@none@1@S@THE NORTHEAST office market is feeling serious aftereffects of the giddy overbuilding of the 1980s.@@@@1@15@@oe@2-2-2013
20998003@unknown@formal@none@1@S@Foreclosures and other signs of financial distress, most often associated with the real estate market in the Southwest, are surfacing in the suburban office market of the once thriving Northeast.@@@@1@30@@oe@2-2-2013
20998004@unknown@formal@none@1@S@Some projects are now in the hands of lenders, including a 425,000-square-foot office facility in Little Falls, N.J.@@@@1@18@@oe@2-2-2013
20998005@unknown@formal@none@1@S@The owners of a 32-acre hotel and office complex in King of Prussia, Pa., have advertised for new financing.@@@@1@19@@oe@2-2-2013
20998006@unknown@formal@none@1@S@Rising office vacancy rates in Fairfield County, Conn., have builders and bankers scrambling to restructure loans.@@@@1@16@@oe@2-2-2013
20998007@unknown@formal@none@1@S@And in suburban Boston, developers are bracing for cutbacks in the computer industry, a major user of office space.@@@@1@19@@oe@2-2-2013
20998008@unknown@formal@none@1@S@Many troubled properties haven't been foreclosed on and are hard to identify, says Albert I. Berger, who heads the Secaucus, N.J., office of Helmsley-Spear Inc., a real estate brokerage.@@@@1@29@@oe@2-2-2013
20998009@unknown@formal@none@1@S@Owners are voluntarily -- and quietly -- turning over properties to lenders through "deeds in lieu of foreclosure."@@@@1@18@@oe@2-2-2013
20998010@unknown@formal@none@1@S@Often, developers stay on as property manager.@@@@1@7@@oe@2-2-2013
20998011@unknown@formal@none@1@S@Real estate analyst Lloyd Lynford says the Northeast's distress is masked by relatively low vacancy rates.@@@@1@16@@oe@2-2-2013
20998012@unknown@formal@none@1@S@But in today's overbuilt market, tenants have many choices and are negotiating low rents that squeeze building owners.@@@@1@18@@oe@2-2-2013
20998013@unknown@formal@none@1@S@On average, Mr. Lynford says, it now takes three to 3 1/2 years to fill new office space, compared with 2 1/2 years in 1988.@@@@1@25@@oe@2-2-2013
20998014@unknown@formal@none@1@S@Beverly Hills Comes To Suburban Tokyo@@@@1@6@@oe@2-2-2013
20998015@unknown@formal@none@1@S@WHY SHOULD the Japanese cross the Pacific to buy American real estate when they can simply recreate it at home?@@@@1@20@@oe@2-2-2013
20998016@unknown@formal@none@1@S@Tokyu Development Corp. is spending $500 million to build American-style luxury homes in suburban Tokyo with rarely seen back yards, front yards, swimming pools and tennis courts.@@@@1@27@@oe@2-2-2013
20998017@unknown@formal@none@1@S@The Japanese company hired Richardson Nagy Martin, a Newport Beach, Calif., architectural firm, to design what the Japanese press has dubbed "the Beverly Hills of Tokyo."@@@@1@26@@oe@2-2-2013
20998018@unknown@formal@none@1@S@Instead of Japan's typical small homes clustered on narrow streets with no sidewalks, the new "One Hundred Hills" development will offer 65 houses on half-acre lots.@@@@1@26@@oe@2-2-2013
20998019@unknown@formal@none@1@S@That's more than 10 times the usual housing site size.@@@@1@10@@oe@2-2-2013
20998020@unknown@formal@none@1@S@Buyers with $6 million to spend can select from 11 designs, including a Mediterranean-inspired California style, a traditional Yankee look and designs inspired by Midwestern architect Frank Lloyd Wright.@@@@1@29@@oe@2-2-2013
20998021@unknown@formal@none@1@S@There are spacious living rooms and baths, plus a master grandparents suite and a foyer for removing shoes to suit Japanese life styles.@@@@1@23@@oe@2-2-2013
20998022@unknown@formal@none@1@S@Exteriors are faced with brick, wood or stone, but the homes are made of steel-reinforced concrete.@@@@1@16@@oe@2-2-2013
20998023@unknown@formal@none@1@S@"We were disappointed we couldn't use wood," says architect Walter J. Richardson, "but the Japanese only want stronger materials."@@@@1@19@@oe@2-2-2013
20998024@unknown@formal@none@1@S@At $1,000 per square foot, the Japanese want the feeling of indestructibility, he explains, not to mention protection from possible earthquake damage.@@@@1@22@@oe@2-2-2013
20998025@unknown@formal@none@1@S@Housing Developers Try Brand-Name Buildings@@@@1@5@@oe@2-2-2013
20998026@unknown@formal@none@1@S@RESIDENTIAL builders, faced with a more competitive market, are turning to a traditional consumer marketing technique to establish brand-name identity.@@@@1@20@@oe@2-2-2013
20998027@unknown@formal@none@1@S@"One of the difficulties people in real estate have is that each product is like starting a new company, or starting a new line in the fashion business," says L. Robert Lieb president of Mountain Development Corp. in West Paterson, N.J.@@@@1@41@@oe@2-2-2013
20998028@unknown@formal@none@1@S@So he's using "river" in many project names.@@@@1@8@@oe@2-2-2013
20998029@unknown@formal@none@1@S@"It'll never be like what Bristol-Myers does," he adds, "but it helps establish recognition with the public -- and with banks."@@@@1@21@@oe@2-2-2013
20998030@unknown@formal@none@1@S@Weingarten-Siegel Group Inc. of Manalapan, N.J., has built Cross Creek Pointe, Allegro Pointe and other Pointes in New Jersey.@@@@1@19@@oe@2-2-2013
20998031@unknown@formal@none@1@S@Caspi Development Corp of Armonk, N.Y., has developed two apartment buildings called Classic and plans a third.@@@@1@17@@oe@2-2-2013
20998032@unknown@formal@none@1@S@Developer Steve Caspi says the same brand name indicates consistent quality, "regardless of location, design or amenities."@@@@1@17@@oe@2-2-2013
20998033@unknown@formal@none@1@S@The leader in real estate brand names is developer Ara Hovnanian.@@@@1@11@@oe@2-2-2013
20998034@unknown@formal@none@1@S@His entry-price condos are labeled Society Hill.@@@@1@7@@oe@2-2-2013
20998035@unknown@formal@none@1@S@Beacon Hill is for "move-up" town houses, and Nob Hill, for single-family houses.@@@@1@13@@oe@2-2-2013
20998036@unknown@formal@none@1@S@Because of standardized designs, Mr. Hovnanian says, "a buyer can visualize Society Hill regardless of where it is."@@@@1@18@@oe@2-2-2013
20998037@unknown@formal@none@1@S@Quake Not Likely to Jolt The Commercial Market@@@@1@8@@oe@2-2-2013
20998038@unknown@formal@none@1@S@THE EARTHQUAKE in San Francisco has sent few tremors through the hearts of real estate investors.@@@@1@16@@oe@2-2-2013
20998039@unknown@formal@none@1@S@"I think there's a disease called buyer's regret, and I'm sure it's running rampant at this moment, but it gets cured in a short period of time," says Kenneth Leventhal, co-managing partner of Kenneth Leventhal & Co., a Los Angeles accounting firm specializing in real estate.@@@@1@46@@oe@2-2-2013
20998040@unknown@formal@none@1@S@"If I were buying a building in San Francisco now the first thing I'd do is insist on a structural inspection, then I'd delay a little, stall a little."@@@@1@29@@oe@2-2-2013
20998041@unknown@formal@none@1@S@But like other real estate professionals accustomed to California's quake risks, Mr. Leventhal anticipates little long-term change in the city's commercial real estate market.@@@@1@24@@oe@2-2-2013
20998042@unknown@formal@none@1@S@Still, local builders are eager to tell the world that most of San Francisco doesn't look like the TV images of destruction.@@@@1@22@@oe@2-2-2013
20998043@unknown@formal@none@1@S@Planners of the Urban Land Institute real estate conference this week hastily added a panel on the quake's effects.@@@@1@19@@oe@2-2-2013
20998044@unknown@formal@none@1@S@"The message is we build'em right," says Peter Bedford, a California developer and officer at Urban Land Institute.@@@@1@18@@oe@2-2-2013
20998045@unknown@formal@none@1@S@"There's seven million square feet of space that's doing great.@@@@1@10@@oe@2-2-2013
20999001@unknown@formal@none@1@S@HEALTH CLUBS gear up for a graying clientele.@@@@1@8@@oe@2-2-2013
20999002@unknown@formal@none@1@S@Although their ads picture curvy young people in skimpy outfits, club owners know the future lies with the lumpier over-40 set.@@@@1@21@@oe@2-2-2013
20999003@unknown@formal@none@1@S@"It's a misconception that physical fitness is something for the young and middle-aged," says Michael Pacholik, sales manager of the LA Fitness club, Diamond Bar, Calif.@@@@1@26@@oe@2-2-2013
20999004@unknown@formal@none@1@S@About 10% to 15% of members at Atlanta's Holiday Espre Center are elderly, says Gerald Williams, fitness consultant.@@@@1@18@@oe@2-2-2013
20999005@unknown@formal@none@1@S@"Most want cardiovascular conditioning . . . the No. 1 way of reducing risk of heart disease."@@@@1@17@@oe@2-2-2013
20999006@unknown@formal@none@1@S@The Association of Quality Clubs, which puts 1988 industry revenue at $5 billion, surveyed the health-conscious over-40 market and found that 43% exercise regularly.@@@@1@24@@oe@2-2-2013
20999007@unknown@formal@none@1@S@Michael Hays, head of ProBody Fitness, notes an industry "wash" is in progress.@@@@1@13@@oe@2-2-2013
20999008@unknown@formal@none@1@S@"Clubs need to be run like restaurants where every square foot makes a dollar," he says.@@@@1@16@@oe@2-2-2013
20999009@unknown@formal@none@1@S@Older people help profits by filling in "downtime."@@@@1@8@@oe@2-2-2013
20999010@unknown@formal@none@1@S@He adds: "The medical market and the fitness market parallel each other and are going to cross real soon."@@@@1@19@@oe@2-2-2013
20999011@unknown@formal@none@1@S@People on fixed incomes get a break at Espre; over 55 wins a 45% discount at Anaheim Imperial Health Spa.@@@@1@20@@oe@2-2-2013
20999012@unknown@formal@none@1@S@"HOT" TOPAZ sparks regulator, jeweler concern over import of irradiated stones.@@@@1@11@@oe@2-2-2013
20999013@unknown@formal@none@1@S@A committee of gem dealers investigates the source of some "hot" blue topaz stones recently reported by a Hong Kong jewelry manufacturer.@@@@1@22@@oe@2-2-2013
20999014@unknown@formal@none@1@S@In the U.S., radiation limits are set and monitored by the Nuclear Regulatory Commission, which licenses reactors that process the topaz.@@@@1@21@@oe@2-2-2013
20999015@unknown@formal@none@1@S@The agency is working on licensing importers but doesn't currently monitor imports.@@@@1@12@@oe@2-2-2013
20999016@unknown@formal@none@1@S@Topaz, a translucent mineral that is often whitish when taken from the ground, can be turned blue by irradiation, which transforms it into a gemstone that looks like an aquamarine.@@@@1@30@@oe@2-2-2013
20999017@unknown@formal@none@1@S@"The {stones} that were irradiated in the U.S. are safe," says John Hickey, chief of the NRC operations branch, Washington.@@@@1@20@@oe@2-2-2013
20999018@unknown@formal@none@1@S@"We believe that the vast majority of imported material is safe.@@@@1@11@@oe@2-2-2013
20999019@unknown@formal@none@1@S@But there is a small risk that some were imported with high radiation levels."@@@@1@14@@oe@2-2-2013
20999020@unknown@formal@none@1@S@Mr. Hickey added that the stones found in Hong Kong are thought to carry double the U.S. radiation limit, although he noted that double or even triple the U.S. limit is "still in the range of safe levels."@@@@1@38@@oe@2-2-2013
20999021@unknown@formal@none@1@S@Some jewelers have Geiger counters to measure topaz radiation.@@@@1@9@@oe@2-2-2013
20999022@unknown@formal@none@1@S@CAPITAL TRAVELS to Europe as 1992 unification nears.@@@@1@8@@oe@2-2-2013
20999023@unknown@formal@none@1@S@Boston's Advent International raises $230 million from U.S. pension funds and other institutions to invest in Europe.@@@@1@17@@oe@2-2-2013
20999024@unknown@formal@none@1@S@Other venture capitalists are already there: MMG Patricof Group and its Alan Patricof Associates, New York; Burr, Egan, Deleage & Co., Boston; and San Francisco's Hambrecht & Quist have about $800 million to invest in European companies.@@@@1@37@@oe@2-2-2013
20999025@unknown@formal@none@1@S@European venture capital funds total about $14 billion and are expected to continue growing 35% annually.@@@@1@16@@oe@2-2-2013
20999026@unknown@formal@none@1@S@Continentals believe that the strongest growth area will be southern Europe.@@@@1@11@@oe@2-2-2013
20999027@unknown@formal@none@1@S@Spain and Italy are most often mentioned as the future economic hot spots.@@@@1@13@@oe@2-2-2013
20999028@unknown@formal@none@1@S@Favored ventures include media, telecommunications and retailing.@@@@1@7@@oe@2-2-2013
20999029@unknown@formal@none@1@S@Most popular acquisition method: the leveraged buy-out.@@@@1@7@@oe@2-2-2013
20999030@unknown@formal@none@1@S@Family-owned firms that need cash to grow are attractive, says John Turner of Matuschka Gruppe, Munich.@@@@1@16@@oe@2-2-2013
20999031@unknown@formal@none@1@S@AN AIDS DIRECTORY from the American Foundation for AIDS Research rates and reviews educational materials.@@@@1@15@@oe@2-2-2013
20999032@unknown@formal@none@1@S@"Learning AIDS" lists films, pamphlets, brochures, videos and other educational data.@@@@1@11@@oe@2-2-2013
20999033@unknown@formal@none@1@S@The distributor is R.R. Bowker, New York.@@@@1@7@@oe@2-2-2013
20999034@unknown@formal@none@1@S@SUSPECT "SALES" ads are challenged by the Better Business Bureau of Metropolitan New York.@@@@1@14@@oe@2-2-2013
20999035@unknown@formal@none@1@S@The bureau found that only two of six New York furniture stores could prove their presale prices were higher.@@@@1@19@@oe@2-2-2013
20999036@unknown@formal@none@1@S@DRACULA'S BUSY this time of year, but a visit to his Transylvania castle is part of a Chicago-based Unitours trip in the spring, presumably the count's off-season.@@@@1@27@@oe@2-2-2013
20999037@unknown@formal@none@1@S@RADIO MALAISE draws the ear of the Federal Communications Commission.@@@@1@10@@oe@2-2-2013
20999038@unknown@formal@none@1@S@AM radio, which has been losing listeners to FM channels since the 1970s, approaches the 1990s with a diminished voice.@@@@1@20@@oe@2-2-2013
20999039@unknown@formal@none@1@S@But it may have a good listener in Washington.@@@@1@9@@oe@2-2-2013
20999040@unknown@formal@none@1@S@The FCC plans to hear a day of testimony Nov. 16 on the plight of AM radio.@@@@1@17@@oe@2-2-2013
20999041@unknown@formal@none@1@S@The commission believes that improving AM service would broaden listening selections and increase options for advertisers.@@@@1@16@@oe@2-2-2013
20999042@unknown@formal@none@1@S@The issues are also thought to be important to the FCC's new chairman, Alfred Sikes, a former AM broadcaster in his native Missouri.@@@@1@23@@oe@2-2-2013
20999043@unknown@formal@none@1@S@The FM radio band, considered technically superior because it can carry stereo broadcasts, has cornered the airwaves for delivering music.@@@@1@20@@oe@2-2-2013
20999044@unknown@formal@none@1@S@AM stereo remains largely undeveloped because it lacks a uniform delivery system.@@@@1@12@@oe@2-2-2013
20999045@unknown@formal@none@1@S@The National Association of Broadcasters in June adopted an agenda for revitalizing AM radio that includes, among other things, pursuing further FCC action on selecting an AM stereo standard and seeking a law requiring all stereo receivers to include AM stereo.@@@@1@41@@oe@2-2-2013
20999046@unknown@formal@none@1@S@Listeners turned to radios run on batteries for news when the San Francisco earthquake and Hurricane Hugo cut power lines.@@@@1@20@@oe@2-2-2013
20999047@unknown@formal@none@1@S@BRIEFS:@@@@1@1@@oe@2-2-2013
20999048@unknown@formal@none@1@S@A Modern Healthcare magazine article says 40% of surveyed executives admitted falling asleep during formal presentations. . . .@@@@1@19@@oe@2-2-2013
20999049@unknown@formal@none@1@S@Lee Co., the jeans maker, celebrates its 100th anniversary with a hardcover yearbook featuring photos of its 10,000 employees.@@@@1@19@@oe@2-2-2013
21000001@unknown@formal@none@1@S@Kemper Financial Services Inc., charging that program trading is ruining the stock market, cut off four big Wall Street firms from doing any of its stock-trading business.@@@@1@27@@oe@2-2-2013
21000002@unknown@formal@none@1@S@The move is the biggest salvo yet in the renewed outcry against program trading, with Kemper putting its money -- the millions of dollars in commissions it generates each year -- where its mouth is.@@@@1@35@@oe@2-2-2013
21000003@unknown@formal@none@1@S@The Kemper Corp. unit and other critics complain that program trading causes wild swings in stock prices, such as on Tuesday and on Oct. 13 and 16, and has increased chances for market crashes.@@@@1@34@@oe@2-2-2013
21000004@unknown@formal@none@1@S@Over the past nine months, several firms, including discount broker Charles Schwab & Co. and Sears, Roebuck & Co.'s Dean Witter Reynolds Inc. unit, have attacked program trading as a major market evil.@@@@1@33@@oe@2-2-2013
21000005@unknown@formal@none@1@S@Several big securities firms backed off from program trading a few months after the 1987 crash.@@@@1@16@@oe@2-2-2013
21000006@unknown@formal@none@1@S@But most of them, led by Morgan Stanley & Co., moved back in earlier this year.@@@@1@16@@oe@2-2-2013
21000007@unknown@formal@none@1@S@The most volatile form of program trading is index arbitrage -- the rapid-fire, computer-guided buying and selling of stocks offset with opposite trades in stock-index futures and options.@@@@1@28@@oe@2-2-2013
21000008@unknown@formal@none@1@S@The object is to capture profits from fleeting price discrepancies between the futures and options and the stocks themselves.@@@@1@19@@oe@2-2-2013
21000009@unknown@formal@none@1@S@Index arbitrage recently has accounted for about half of all program trading on the New York Stock Exchange.@@@@1@18@@oe@2-2-2013
21000010@unknown@formal@none@1@S@Last month, program trading accounted for 20.9 million shares a day, or a record 13.8% of the Big Board's average daily volume.@@@@1@22@@oe@2-2-2013
21000011@unknown@formal@none@1@S@On Tuesday afternoon, Kemper told Bear, Stearns & Co., General Electric Co.'s Kidder, Peabody & Co. unit, Morgan Stanley and Oppenheimer & Co. that it will no longer do business with them because of their commitment to index arbitrage, officials inside and outside these firms confirmed.@@@@1@46@@oe@2-2-2013
21000012@unknown@formal@none@1@S@Kemper officials declined to identify the firms but acknowledged a long-simmering dispute with four securities firms and said the list of brokers it won't do business with may be lengthened in the months ahead.@@@@1@34@@oe@2-2-2013
21000013@unknown@formal@none@1@S@"We've been opposed to" index arbitrage "for a long time," said Stephen B. Timbers, chief investment officer at Kemper, which manages $56 billion, including $8 billion of stocks.@@@@1@28@@oe@2-2-2013
21000014@unknown@formal@none@1@S@"Index arbitrage doesn't work, and it scares natural buyers" of stock.@@@@1@11@@oe@2-2-2013
21000015@unknown@formal@none@1@S@While Mr. Timbers explained he's "not totally convinced index arbitrage changes the overall level of the stock market," he said that "on an intraday basis, it has major effects.@@@@1@29@@oe@2-2-2013
21000016@unknown@formal@none@1@S@We've talked to proponents of index arbitrage and told them to cool it because they're ruining the market.@@@@1@18@@oe@2-2-2013
21000017@unknown@formal@none@1@S@They said, `Too bad,' so we finally said we're not going to do business with them."@@@@1@16@@oe@2-2-2013
21000018@unknown@formal@none@1@S@Kemper also blasted the Big Board for ignoring the interests of individual and institutional holders.@@@@1@15@@oe@2-2-2013
21000019@unknown@formal@none@1@S@"The New York Stock Exchange has vested interests" in its big member securities firms "that cloud its objectivity," Mr. Timbers said.@@@@1@21@@oe@2-2-2013
21000020@unknown@formal@none@1@S@"It has never been interested in what we think.@@@@1@9@@oe@2-2-2013
21000021@unknown@formal@none@1@S@The Big Board also has a terrible communication problem with individual investors," he added.@@@@1@14@@oe@2-2-2013
21000022@unknown@formal@none@1@S@Small investors perceive that "big operators" dominate the market, said Thomas O'Hara, chairman of the National Association of Investors and head of the exchange's Individual Investors Advisory Committee set up after the 1987 crash.@@@@1@34@@oe@2-2-2013
21000023@unknown@formal@none@1@S@"The impression I've got is they'd love to do away with it {program trading}, but they {the exchange} can't do it," he said.@@@@1@23@@oe@2-2-2013
21000024@unknown@formal@none@1@S@Big Board Chairman John J. Phelan said in a recent interview that he has no inclination to eliminate program trading.@@@@1@20@@oe@2-2-2013
21000025@unknown@formal@none@1@S@He said the market's volatility disturbs him, but that all the exchange can do is "slow down the process" by using its circuit breakers and shock absorbers.@@@@1@27@@oe@2-2-2013
21000026@unknown@formal@none@1@S@Mr. Timbers countered that "the mere fact they put in circuit breakers is an admission of their problems."@@@@1@18@@oe@2-2-2013
21000027@unknown@formal@none@1@S@Morgan Stanley and Kidder Peabody, the two biggest program trading firms, staunchly defend their strategies.@@@@1@15@@oe@2-2-2013
21000028@unknown@formal@none@1@S@"We continue to believe the position we've taken is reasonable," a Morgan Stanley official said.@@@@1@15@@oe@2-2-2013
21000029@unknown@formal@none@1@S@"We would stop index arbitrage when the market is under stress, and we have recently," he said, citing Oct. 13 and earlier this week.@@@@1@24@@oe@2-2-2013
21000030@unknown@formal@none@1@S@Michael Carpenter, president and chief executive officer at Kidder Peabody, said in a recent interview, "We don't think that index arbitrage has a negative impact on the market as a whole."@@@@1@31@@oe@2-2-2013
21000031@unknown@formal@none@1@S@According to Lawrence Eckenfelder, a securities industry analyst at Prudential-Bache Securities Inc., "Kemper is the first firm to make a major statement with program trading."@@@@1@25@@oe@2-2-2013
21000032@unknown@formal@none@1@S@He added that "having just one firm do this isn't going to mean a hill of beans.@@@@1@17@@oe@2-2-2013
21000033@unknown@formal@none@1@S@But if this prompts others to consider the same thing, then it may become much more important.@@@@1@17@@oe@2-2-2013
21001001@unknown@formal@none@1@S@The following were among yesterday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
21001002@unknown@formal@none@1@S@Blockbuster Entertainment Corp. -- $300 million (redemption amount) of zero-coupon convertible notes, also known as liquid yield option notes, due Nov. 1, 2004, priced at 308.32 to yield at maturity 8%.@@@@1@31@@oe@2-2-2013
21001003@unknown@formal@none@1@S@The notes are zero-coupon securities and will not pay interest periodically.@@@@1@11@@oe@2-2-2013
21001004@unknown@formal@none@1@S@The size of the offering was increased from the originally planned $250 million (redemption amount).@@@@1@15@@oe@2-2-2013
21001005@unknown@formal@none@1@S@The notes are convertible into common stock of Blockbuster Entertainment at $22.26 a share, representing a 12% conversion premium over yesterday's closing price.@@@@1@23@@oe@2-2-2013
21001006@unknown@formal@none@1@S@Rated Ba-3 by Moody's Investors Service Inc. and single-B-plus by Standard & Poor's Corp., the issue will be sold through Merrill Lynch Capital Markets.@@@@1@24@@oe@2-2-2013
21001007@unknown@formal@none@1@S@Merrill Lynch & Co. -- $200 million of 8.4% notes due Nov. 1, 2019, priced at 99.771 to yield 8.457%.@@@@1@20@@oe@2-2-2013
21001008@unknown@formal@none@1@S@The issue, which is puttable back to the company Nov. 1, 1994, was priced at a spread of 70 basis points above the Treasury's five-year note.@@@@1@26@@oe@2-2-2013
21001009@unknown@formal@none@1@S@Rated single-A-1 by Moody's and single-A-plus by S&P, the noncallable issue will be sold through underwriters led by Merrill Lynch Capital Markets.@@@@1@22@@oe@2-2-2013
21001010@unknown@formal@none@1@S@Boise Cascade Corp. -- $150 million of 9.45% debentures due 2009, priced at 99.7.@@@@1@14@@oe@2-2-2013
21001011@unknown@formal@none@1@S@ITT Financial Corp. -- $150 million of 8.35% subordinated notes due Nov. 1, 2004, priced at 99.85 to yield 8.387%.@@@@1@20@@oe@2-2-2013
21001012@unknown@formal@none@1@S@The noncallable issue, which is puttable back to the company Nov. 1, 1994, was priced at a spread of 62.5 basis points above the Treasury's five-year note.@@@@1@27@@oe@2-2-2013
21001013@unknown@formal@none@1@S@Rated single-A-2 by Moody's and single-A by S&P, the issue will be sold through underwriters led by Merrill Lynch Capital Markets.@@@@1@21@@oe@2-2-2013
21001014@unknown@formal@none@1@S@ITT Financial is a subsidiary of ITT Corp.@@@@1@8@@oe@2-2-2013
21001015@unknown@formal@none@1@S@Arco Chemical Co. -- $100 million of 9.35% debentures due Nov. 1, 2019, priced at 98.518 to yield 9.50%.@@@@1@19@@oe@2-2-2013
21001016@unknown@formal@none@1@S@Rated single-A-2 by Moody's and single-A by S&P, the issue will be sold through underwriters led by Salomon Brothers Inc.@@@@1@20@@oe@2-2-2013
21001017@unknown@formal@none@1@S@Trinity River Authority, Texas -- $134.8 million of regional wastewater system improvement revenue bonds, Series 1989, due 1992-2000, 2009 and 2016, through a Shearson Lehman Hutton Inc. group.@@@@1@28@@oe@2-2-2013
21001018@unknown@formal@none@1@S@The bonds, insured and rated triple-a by Moody's and S&P, were priced to yield from 6.30% in 1992 to 7.25% in 2016.@@@@1@22@@oe@2-2-2013
21001019@unknown@formal@none@1@S@There are $46,245,000 of 7% term bonds due 2009, priced at 97 7/8 to yield 7.20%, and $64.9 million of 7.1% term bonds due 2016, priced at 98 1/4 to yield 7.25%.@@@@1@32@@oe@2-2-2013
21001020@unknown@formal@none@1@S@Serial bonds, which all carry 7% coupons, are priced to yield from 6.30% in 1992 to 7% in 2000.@@@@1@19@@oe@2-2-2013
21001021@unknown@formal@none@1@S@Beverly Hills, Calif. -- $116,385,000 of refunding certificates of participation (civic center improvements project), due 1990-2004, 2007, 2016 and 2019, tentatively priced by a Goldman, Sachs & Co. group to yield from 6% in 1990 to 7.19% in 2016.@@@@1@39@@oe@2-2-2013
21001022@unknown@formal@none@1@S@Serial certificates yield to 7.10% in 2004.@@@@1@7@@oe@2-2-2013
21001023@unknown@formal@none@1@S@They are all priced at par.@@@@1@6@@oe@2-2-2013
21001024@unknown@formal@none@1@S@There are $12,915,000 of 7% term certificates due 2007, priced to yield 7.15%.@@@@1@13@@oe@2-2-2013
21001025@unknown@formal@none@1@S@The $58.9 million of 7% certificates due 2016 carry the issue's high yield, priced at 97 3/4 to yield 7.19%.@@@@1@20@@oe@2-2-2013
21001026@unknown@formal@none@1@S@There are also $29 million of 6 3/4% certificates due 2019, priced to yield 7.10%.@@@@1@15@@oe@2-2-2013
21001027@unknown@formal@none@1@S@The bonds are rated single-A-1 by Moody's and double-A-minus by S&P, according to the lead underwriter.@@@@1@16@@oe@2-2-2013
21001028@unknown@formal@none@1@S@Michigan -- $80 million of first general obligation bonds (Series 1989 environmental protection program and recreation program), tentatively priced by a Shearson Lehman Hutton group to yield from 6% for current interest bonds due 1990 to 7.25% for convertible capital appreciation bonds.@@@@1@42@@oe@2-2-2013
21001029@unknown@formal@none@1@S@Environmental protection program current interest bonds are due 1995-1999, 2005 and 2009.@@@@1@12@@oe@2-2-2013
21001030@unknown@formal@none@1@S@They are tentatively priced to yield from 6.45% in 1995 to 7.10% in 2009.@@@@1@14@@oe@2-2-2013
21001031@unknown@formal@none@1@S@The standard capital appreciation bonds in the issue, due 1998-2011, yield to maturity from 6.70% in 1998 to 7.10% in 2009-2011.@@@@1@21@@oe@2-2-2013
21001032@unknown@formal@none@1@S@The convertible capital appreciation bonds all yield 7.25% to their respective conversion dates, when they become 7 1/4% current interest-bearing bonds until maturity.@@@@1@23@@oe@2-2-2013
21001033@unknown@formal@none@1@S@Convertible capital appreciation bonds with a final stated maturity of Nov. 15, 2014, convert Nov. 15, 1999.@@@@1@17@@oe@2-2-2013
21001034@unknown@formal@none@1@S@Convertible capital appreciation bonds with a final stated maturity of Nov. 15, 2019, convert Nov. 15, 2004.@@@@1@17@@oe@2-2-2013
21001035@unknown@formal@none@1@S@Recreation program current interest bonds are due 1990-1995, and are priced to yield from 6% in 1990 to 6.45% in 1995.@@@@1@21@@oe@2-2-2013
21001036@unknown@formal@none@1@S@All of the bonds are rated single-A-1 by Moody's and double-A by S&P.@@@@1@13@@oe@2-2-2013
21001037@unknown@formal@none@1@S@Federal National Mortgage Association -- $300 million of Remic securities in 10 classes through Goldman Sachs.@@@@1@16@@oe@2-2-2013
21001038@unknown@formal@none@1@S@The issue is backed by Fannie Mae 9% securitiess.@@@@1@9@@oe@2-2-2013
21001039@unknown@formal@none@1@S@The offering is Fannie Mae's Series 1989-88.@@@@1@7@@oe@2-2-2013
21001040@unknown@formal@none@1@S@Fuji Heavy Industries Ltd. (Japan) -- $300 million of 8 3/4% bonds due Nov. 17, 1999, priced at 101 3/8 to yield 8.85% less full fees annually, via Daiwa Europe Ltd.@@@@1@31@@oe@2-2-2013
21001041@unknown@formal@none@1@S@Guarantee by Industrial Bank of Japan.@@@@1@6@@oe@2-2-2013
21001042@unknown@formal@none@1@S@Fees 2.@@@@1@2@@oe@2-2-2013
21001043@unknown@formal@none@1@S@European Investment Bank (agency) -- $150 million of 8 1/2% bonds due Nov. 22, 1999, priced at 99.75 to yield 8.54% at reoffered price, via lead manager JP Morgan Securities Ltd.@@@@1@31@@oe@2-2-2013
21001044@unknown@formal@none@1@S@Nippon Meat Packers Inc. (Japan) -- $200 million of bonds due Nov. 9, 1993, with equity-purchase warrants, indicating a 3 7/8% coupon at par, via Yamaichi International Europe.@@@@1@28@@oe@2-2-2013
21001045@unknown@formal@none@1@S@Each $5,000 bond carries a warrant exercisable Nov. 24, 1989, through Oct. 29, 1993, to buy company shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Oct. 31.@@@@1@36@@oe@2-2-2013
21001046@unknown@formal@none@1@S@GMAC Canada Ltd. (U.S. parent) -- 150 million Canadian dollars of floating-rate notes due November 1996, via Banque Paribas Capital Markets Ltd.@@@@1@22@@oe@2-2-2013
21001047@unknown@formal@none@1@S@Coupon, paid monthly, is one-month Canadian bankers acceptance rate.@@@@1@9@@oe@2-2-2013
21001048@unknown@formal@none@1@S@Guarantee by General Motors Acceptance Corp.@@@@1@6@@oe@2-2-2013
21001049@unknown@formal@none@1@S@Call at par after two years and thereafter at par every six months.@@@@1@13@@oe@2-2-2013
21001050@unknown@formal@none@1@S@Swedish Export Credit Corp. -- #100 million of 12% bonds due June 15, 1994, priced at 101 5/8 to yield 12.39% annually less full fees, via Samuel Montagu & Co.@@@@1@30@@oe@2-2-2013
21001051@unknown@formal@none@1@S@Fees 1 7/8.@@@@1@3@@oe@2-2-2013
21001052@unknown@formal@none@1@S@Skopbank (Finland) -- 10 billion yen of 5 3/4% bonds due Nov. 20, 1992, priced at 101 3/8 to yield 5 3/4% less full fees, via IBJ International.@@@@1@28@@oe@2-2-2013
21001053@unknown@formal@none@1@S@Fees 1 3/8.@@@@1@3@@oe@2-2-2013
21001054@unknown@formal@none@1@S@Hokkaido Takushoku Bank (Japan) -- 300 million Swiss francs of notes and bonds due March 31, 1994, with fixed 0.375% coupon at par via Swiss Bank Corp.@@@@1@27@@oe@2-2-2013
21001055@unknown@formal@none@1@S@Put option March 31, 1992, at 107 3/4 to yield a fixed 3.52%.@@@@1@13@@oe@2-2-2013
21001056@unknown@formal@none@1@S@The issue is in two parts: 200 million Swiss francs of privately placed notes, 100 million Swiss francs of publicly listed bonds.@@@@1@22@@oe@2-2-2013
21001057@unknown@formal@none@1@S@Indentical conditions for the two parts.@@@@1@6@@oe@2-2-2013
21001058@unknown@formal@none@1@S@Other terms to be fixed Nov. 1.@@@@1@7@@oe@2-2-2013
21001059@unknown@formal@none@1@S@Kingdom of Morocco -- $208 million (redemption amount) of zero-coupon government trust certificates, with maturities stretching from May 15, 1990, to Nov. 15, 1999, priced at yields ranging from 8.23% to 8.43%.@@@@1@32@@oe@2-2-2013
21001060@unknown@formal@none@1@S@All the issues were priced at a spread of 37 basis points above the Treasury strips with similar maturities.@@@@1@19@@oe@2-2-2013
21001061@unknown@formal@none@1@S@Proceeds from the offering are about $160.4 million.@@@@1@8@@oe@2-2-2013
21001062@unknown@formal@none@1@S@Rated triple-A by Moody's and S&P, the issue will be sold through underwriters led by BT Securities, a subsidiary of Bankers Trust New York Corp.@@@@1@25@@oe@2-2-2013
21002001@unknown@formal@none@1@S@At a time when Jon Levy should be planning the biggest spring season in his dress company's 17 years, his work day is studded with intense moments of concern about one of his biggest customers, Campeau Corp.@@@@1@37@@oe@2-2-2013
21002002@unknown@formal@none@1@S@"The dress business has always been a gamble, but it's never been like this," says Mr. Levy, president of St. Gillian Group Ltd., which has become a hot name thanks to a campaign of sexy TV commercials.@@@@1@37@@oe@2-2-2013
21002003@unknown@formal@none@1@S@Every day, Mr. Levy checks orders from Campeau department store chains, trying to guess if he will be paid.@@@@1@19@@oe@2-2-2013
21002004@unknown@formal@none@1@S@"I'm now monitoring every major account."@@@@1@6@@oe@2-2-2013
21002005@unknown@formal@none@1@S@Campeau, owner of such retailers as Bloomingdale's, Bon Marche, and Jordan Marsh, sidestepped financial collapse last month after an emergency $250 million loan from Olympia & York Developments Ltd., a Canadian developer and a major shareholder in Campeau.@@@@1@38@@oe@2-2-2013
21002006@unknown@formal@none@1@S@The need for the loan surprised many analysts and bond holders who had been told at the company's annual meeting in July that there weren't any major problems ahead.@@@@1@29@@oe@2-2-2013
21002007@unknown@formal@none@1@S@The risk of doing business with Campeau's Federated and Allied department store chains is about to increase greatly, not only for Mr. Levy but for hundreds of other small apparel makers, button suppliers, trucking firms and fabric houses.@@@@1@38@@oe@2-2-2013
21002008@unknown@formal@none@1@S@Next week, the country's top designers and manufacturers will begin showing fashions for spring 1990, the second most important selling season of the year.@@@@1@24@@oe@2-2-2013
21002009@unknown@formal@none@1@S@And as the applause dies down in showrooms along Seventh Avenue and Broadway, stylishly clad Campeau buyers will begin writing orders.@@@@1@21@@oe@2-2-2013
21002010@unknown@formal@none@1@S@Orders from Campeau retailers used to be cause for celebration.@@@@1@10@@oe@2-2-2013
21002011@unknown@formal@none@1@S@This is no longer true because of Campeau's massive debt load.@@@@1@11@@oe@2-2-2013
21002012@unknown@formal@none@1@S@"It's all anybody wants to talk about," says Richard Posner, executive vice president for Credit Exchange Inc., a leading credit service.@@@@1@21@@oe@2-2-2013
21002013@unknown@formal@none@1@S@"People wonder what's going to happen next."@@@@1@7@@oe@2-2-2013
21002014@unknown@formal@none@1@S@Many manufacturers are worried about being paid for merchandise already shipped to Campeau stores.@@@@1@14@@oe@2-2-2013
21002015@unknown@formal@none@1@S@But those dollars at risk pale in comparison to the investment required to make and ship spring goods to Campeau stores.@@@@1@21@@oe@2-2-2013
21002016@unknown@formal@none@1@S@"The few million dollars I could lose today is nothing against what I could lose on the spring line," says Mr. Levy, who estimates that Campeau stores will sell $25 million worth of his clothes this year.@@@@1@37@@oe@2-2-2013
21002017@unknown@formal@none@1@S@"I'm buying fabric right now for clothes which I may not be paid for until April or May.@@@@1@18@@oe@2-2-2013
21002018@unknown@formal@none@1@S@What happens to me if Campeau collapses between now and then?"@@@@1@11@@oe@2-2-2013
21002019@unknown@formal@none@1@S@Some credit concerns, such as Bernard Sands Credit Consultants Inc., have told clients not to ship anything to Federated or Allied stores on credit.@@@@1@24@@oe@2-2-2013
21002020@unknown@formal@none@1@S@"This is especially true for spring merchandise," says Jim Rindos, credit manager at Bernard Sands.@@@@1@15@@oe@2-2-2013
21002021@unknown@formal@none@1@S@"Campeau has too much debt."@@@@1@5@@oe@2-2-2013
21002022@unknown@formal@none@1@S@Other credit houses, such as Credit Exchange and Solo Credit Service Corp., are suggesting that their clients study each order before shipping.@@@@1@22@@oe@2-2-2013
21002023@unknown@formal@none@1@S@"Payments are good right now, but we aren't recommending any long-term lines of credit," says Richard Hastings, a retail credit analyst, referring to credit lines which make inventory purchases automatic.@@@@1@30@@oe@2-2-2013
21002024@unknown@formal@none@1@S@"The Campeau situation is a little uncertain and very difficult to analyze."@@@@1@12@@oe@2-2-2013
21002025@unknown@formal@none@1@S@Because of those concerns, some manufacturers say they will ask for letters of credit before shipping spring merchandise.@@@@1@18@@oe@2-2-2013
21002026@unknown@formal@none@1@S@"We're being paid today, but we're worried about tomorrow and will want" letters of credit, says the sales director at one major dress maker who asked not to be identified.@@@@1@30@@oe@2-2-2013
21002027@unknown@formal@none@1@S@Howard Bloom, president of the dress firm Chetta B Inc., says: "It's big time chaos today.@@@@1@16@@oe@2-2-2013
21002028@unknown@formal@none@1@S@I'm going to ship and hope I get paid.@@@@1@9@@oe@2-2-2013
21002029@unknown@formal@none@1@S@If I need to ask for money up front later, I will."@@@@1@12@@oe@2-2-2013
21002030@unknown@formal@none@1@S@Carol Sanger, vice president, corporate communications at Campeau, says that all of the Federated and Allied chains are paying their bills in a timely manner.@@@@1@25@@oe@2-2-2013
21002031@unknown@formal@none@1@S@"They continue to pay their bills and will do so," says Ms. Sanger.@@@@1@13@@oe@2-2-2013
21002032@unknown@formal@none@1@S@"We're confident we'll be paying our bills for spring merchandise as well."@@@@1@12@@oe@2-2-2013
21002033@unknown@formal@none@1@S@Typically, manufacturers are paid 10 days after the month in which they ship.@@@@1@13@@oe@2-2-2013
21002034@unknown@formal@none@1@S@If goods are shipped to Bloomingdale's between Oct. 1 and Oct. 20, manufacturers expect to be paid by Nov. 10.@@@@1@20@@oe@2-2-2013
21002035@unknown@formal@none@1@S@But manufacturers now buying fabric for spring season goods won't be paid until March, April or even May.@@@@1@18@@oe@2-2-2013
21002036@unknown@formal@none@1@S@Some in the market question whether Campeau will be in a position to pay bills at that time.@@@@1@18@@oe@2-2-2013
21002037@unknown@formal@none@1@S@"Everybody is worried about the possibility of cancellations," says Kurt Barnard, publisher of Barnard's Retail Marketing Report.@@@@1@17@@oe@2-2-2013
21002038@unknown@formal@none@1@S@"The buyers who work for the various Campeau chains may lose their jobs.@@@@1@13@@oe@2-2-2013
21002039@unknown@formal@none@1@S@The stores they work for may be sold.@@@@1@8@@oe@2-2-2013
21002040@unknown@formal@none@1@S@What that will mean for manufacturers is anybody's guess."@@@@1@9@@oe@2-2-2013
21002041@unknown@formal@none@1@S@Campeau's financial situation is complicated by an estimated $1.23 billion in debt due next spring.@@@@1@15@@oe@2-2-2013
21002042@unknown@formal@none@1@S@This includes a working capital facility for Allied Stores of $350 million that matures March 15, 1990, and an $800 million bridge loan due April 30, 1990.@@@@1@27@@oe@2-2-2013
21002043@unknown@formal@none@1@S@The company has stated in recently filed financial documents that it anticipates refinancing its March 1990 payments.@@@@1@17@@oe@2-2-2013
21002044@unknown@formal@none@1@S@In recent months, numerous retailers have filed for Chapter 11 bankruptcy protection, including Bonwit Teller, B. Altman & Co., and Miller & Rhoads Inc.@@@@1@24@@oe@2-2-2013
21002045@unknown@formal@none@1@S@Those filings, plus the expected sale of a number of financially healthy chains, such as Saks Fifth Avenue, Marshall Field's and Bloomingdale's, have added to the anxiety.@@@@1@27@@oe@2-2-2013
21002046@unknown@formal@none@1@S@"Right now, Federated owes us a considerable amount of money," says Morris Marmalstein, president of David Warren Enterprises, a major dress manufacturer.@@@@1@22@@oe@2-2-2013
21002047@unknown@formal@none@1@S@"We expect they will be current with their debts by the end of the week, but we are considering asking them for letters of credit before we take more orders."@@@@1@30@@oe@2-2-2013
21002048@unknown@formal@none@1@S@Mr. Marmalstein adds that his company is now holding some goods in anticipation of being paid in full.@@@@1@18@@oe@2-2-2013
21002049@unknown@formal@none@1@S@"It's become a day-by-day business," he says.@@@@1@7@@oe@2-2-2013
21002050@unknown@formal@none@1@S@"Business has never been this tough before.@@@@1@7@@oe@2-2-2013
21002051@unknown@formal@none@1@S@Not only does your product have to be excellent, but you also have to be able to collect."@@@@1@18@@oe@2-2-2013
21002052@unknown@formal@none@1@S@Other manufacturers are equally cautious.@@@@1@5@@oe@2-2-2013
21002053@unknown@formal@none@1@S@Bud Konheim, president of Nicole Miller Inc., says his company is now shipping only to the flagship stores of the Federated and Allied chains.@@@@1@24@@oe@2-2-2013
21002054@unknown@formal@none@1@S@This limits his financial exposure, he says.@@@@1@7@@oe@2-2-2013
21002055@unknown@formal@none@1@S@"The branches are just warmed over, empty halls," says Mr. Konheim.@@@@1@11@@oe@2-2-2013
21002056@unknown@formal@none@1@S@"Why should I be part of that problem?@@@@1@8@@oe@2-2-2013
21002057@unknown@formal@none@1@S@I've got limited production, and I can't give it to underperformers."@@@@1@11@@oe@2-2-2013
21002058@unknown@formal@none@1@S@Campeau's Ms. Sanger disputes Mr. Konheim's comments.@@@@1@7@@oe@2-2-2013
21002059@unknown@formal@none@1@S@"Many of the branches are very lucrative," she says.@@@@1@9@@oe@2-2-2013
21002060@unknown@formal@none@1@S@"That's just nonsense."@@@@1@3@@oe@2-2-2013
21002061@unknown@formal@none@1@S@As for Mr. Levy at St. Gillian, he says he will maintain his credit lines with the various Campeau stores unless they miss a payment.@@@@1@25@@oe@2-2-2013
21002062@unknown@formal@none@1@S@"If they slip for 10 cents for 10 minutes, I'll stop," he says.@@@@1@13@@oe@2-2-2013
21003001@unknown@formal@none@1@S@Bethlehem Steel Corp., hammered by higher costs and lower shipments to key automotive and service-center customers, posted a 54% drop in third-quarter profit.@@@@1@23@@oe@2-2-2013
21003002@unknown@formal@none@1@S@Separately, two more of the nation's top steelmakers -- Armco Inc. and National Intergroup Inc. -- reported lower operating earnings in their steel businesses, marking what is generally believed to be the end of a two-year boom in the industry.@@@@1@40@@oe@2-2-2013
21003003@unknown@formal@none@1@S@Wall Street analysts expect the disappointing trend to continue into the fourth quarter and through at least the first two quarters of 1990, when the industry will increasingly see the effect of price erosion in major product lines, such as rolled sheet used for cars, appliances and construction.@@@@1@48@@oe@2-2-2013
21003004@unknown@formal@none@1@S@"It doesn't bode well for coming quarters," said John Jacobson, who follows the steel industry for AUS Consultants.@@@@1@18@@oe@2-2-2013
21003005@unknown@formal@none@1@S@In fact, he thinks several steelmakers will report actual losses through the third quarter of 1990.@@@@1@16@@oe@2-2-2013
21003006@unknown@formal@none@1@S@Bethlehem, the nation's second largest steelmaker, earned $46.9 million, or 54 cents a share.@@@@1@14@@oe@2-2-2013
21003007@unknown@formal@none@1@S@The figures include $15 million in costs related to a blast furnace outage and $8 million in losses from unauthorized work outages at the company's coal operations.@@@@1@27@@oe@2-2-2013
21003008@unknown@formal@none@1@S@In the year-ago period, Bethlehem earned $101.4 million, or $1.27 a share, including a $3.8 million gain from early retirement of debt.@@@@1@22@@oe@2-2-2013
21003009@unknown@formal@none@1@S@Third-quarter sales dropped 11% to $1.27 billion from $1.43 billion a year ago.@@@@1@13@@oe@2-2-2013
21003010@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Bethlehem shares rose 50 cents to $17.375.@@@@1@16@@oe@2-2-2013
21003011@unknown@formal@none@1@S@Of all the major steelmakers, Bethlehem would seem to be the most vulnerable to a slowdown.@@@@1@16@@oe@2-2-2013
21003012@unknown@formal@none@1@S@It hasn't diversified beyond steel, nor has it linked up with a joint venture partner to share costs and risks.@@@@1@20@@oe@2-2-2013
21003013@unknown@formal@none@1@S@However, in spite of the difficult industrywide environment of high cost and low volume, Bethlehem "had pretty good earnings numbers," said Michelle Galanter Applebaum, an analyst with Salomon Brothers Inc.@@@@1@30@@oe@2-2-2013
21003014@unknown@formal@none@1@S@Ms. Applebaum had estimated third-quarter earnings of 55 cents a share, but said the losses for the unusual items were larger than expected.@@@@1@23@@oe@2-2-2013
21003015@unknown@formal@none@1@S@Still, Bethlehem's core basic steel operations experienced a steep drop in operating profit to $58.6 million from $186.4 million a year ago, when the industry enjoyed strong demand and pricing.@@@@1@30@@oe@2-2-2013
21003016@unknown@formal@none@1@S@The company said its shipments declined as a result of a reduction in inventories by service centers, a lackluster automotive market and increasing competitive pressures in the construction market.@@@@1@29@@oe@2-2-2013
21003017@unknown@formal@none@1@S@At the same time, production costs, compared with a year ago, were boosted by higher raw material and employment costs, which resulted from the company's new labor pact effective June 1.@@@@1@31@@oe@2-2-2013
21003018@unknown@formal@none@1@S@"We anticipate that steel market conditions will exhibit a further moderate decline in the fourth quarter as the automotive sector remains weak and customers continue to adjust inventories," said Bethlehem Chairman Walter F. Williams.@@@@1@34@@oe@2-2-2013
21003019@unknown@formal@none@1@S@He noted, however, that the company's order entry has increased from the low levels of the early summer, following the end of labor negotiations.@@@@1@24@@oe@2-2-2013
21003020@unknown@formal@none@1@S@Armco, hampered by lower volume in its specialty steel business, said third-quarter net income dropped 8% to $33 million, or 35 cents a share, from $36 million, or 39 cents a share in the year-ago quarter.@@@@1@36@@oe@2-2-2013
21003021@unknown@formal@none@1@S@Sales dropped to $441.1 million from $820.4 million, because the company no longer consolidates its Eastern Steel division, which is now a joint venture with Kawasaki Steel Corp.@@@@1@28@@oe@2-2-2013
21003022@unknown@formal@none@1@S@Along with reduced volume, analysts said the nation's fifth largest steelmaker was hurt by holding higher-cost inventory when raw material costs of such key products as nickel dropped.@@@@1@28@@oe@2-2-2013
21003023@unknown@formal@none@1@S@Operating profit dropped 46% in its specialty flat-rolled steel segment.@@@@1@10@@oe@2-2-2013
21003024@unknown@formal@none@1@S@Moreover, the company said higher sales and shipments to service centers from its Armco Steel Co. joint venture failed to offset weakness in the automotive market, higher production costs and a poorer product mix.@@@@1@34@@oe@2-2-2013
21003025@unknown@formal@none@1@S@Armco shares closed unchanged at $10.625 in composite trading on the New York Stock Exchange.@@@@1@15@@oe@2-2-2013
21003026@unknown@formal@none@1@S@National Intergroup, which owns 50% of the nation's sixth largest steelmaker -- National Steel Corp. -- posted net income for the fiscal second-quarter of $8.6 million, or 33 cents a share, compared with a net loss of $50.3 million.@@@@1@39@@oe@2-2-2013
21003027@unknown@formal@none@1@S@Sales increased in the quarter ended Sept. 30 to $747.8 million from $623.5 million a year ago.@@@@1@17@@oe@2-2-2013
21003028@unknown@formal@none@1@S@The latest period includes gains of $9.1 million from early retirement of debt and tax loss carry-forward.@@@@1@17@@oe@2-2-2013
21003029@unknown@formal@none@1@S@Last year's results were hurt by $41.3 million in restructuring charges.@@@@1@11@@oe@2-2-2013
21003030@unknown@formal@none@1@S@National Intergroup stock closed at $15, unchanged in composite trading on the New York Stock Exchange.@@@@1@16@@oe@2-2-2013
21003031@unknown@formal@none@1@S@The company noted that its Fox-Meyer Drug Co., Ben Franklin Stores Inc. and Permian Corp. operations showed improvements as a result of restructuring moves.@@@@1@24@@oe@2-2-2013
21003032@unknown@formal@none@1@S@However, its equity in the net income of National Steel declined to $6.3 million from $10.9 million as a result of softer demand and lost orders following prolonged labor talks and a threatened strike.@@@@1@34@@oe@2-2-2013
21003033@unknown@formal@none@1@S@National Intergroup is negotiating for the sale of its 50% interest in National Steel to concentrate more fully on drug distribution operations.@@@@1@22@@oe@2-2-2013
21004001@unknown@formal@none@1@S@International Business Machines Corp. said it agreed to let Motorola Inc. participate in a semiconductor research project as part of its effort to bolster the U.S. semiconductor industry.@@@@1@28@@oe@2-2-2013
21004002@unknown@formal@none@1@S@IBM, which made the announcement at the dedication of a research center here, said it invited many other companies to participate as well, including some from Europe.@@@@1@27@@oe@2-2-2013
21004003@unknown@formal@none@1@S@Jack Kuehler, IBM's president, said IBM is also considering letting other companies participate in additional semiconductor work but declined to be more specific.@@@@1@23@@oe@2-2-2013
21004004@unknown@formal@none@1@S@IBM, which said a year ago it was inviting companies to participate in some semiconductor work, has become far more open about its technology as it has tried to rally U.S. industry to head off the Japanese, who now dominate the market for dynamic random access memory chips.@@@@1@48@@oe@2-2-2013
21004005@unknown@formal@none@1@S@While IBM, Armonk, N.Y., makes the bulk of the DRAMs it uses, it doesn't make the equipment needed to produce those chips.@@@@1@22@@oe@2-2-2013
21004006@unknown@formal@none@1@S@And IBM worries that the Japanese will take over that equipment market, too, unless U.S. semiconductor companies produce enough memory chips here to keep U.S. equipment makers healthy.@@@@1@28@@oe@2-2-2013
21004007@unknown@formal@none@1@S@Failure of U.S. equipment makers, IBM fears, would leave it dependent on many of the Japanese companies that compete with it in other parts of the market.@@@@1@27@@oe@2-2-2013
21004008@unknown@formal@none@1@S@IBM also said it expects to benefit from the expertise that Motorola and other companies can bring to bear on the difficult problems involved in semiconductor manufacturing.@@@@1@27@@oe@2-2-2013
21004009@unknown@formal@none@1@S@IBM already participates in one industrywide effort to improve semiconductor-manufacturing techniques.@@@@1@11@@oe@2-2-2013
21004010@unknown@formal@none@1@S@IBM said it expects industrywide efforts to become prevalent because semiconductor manufacturing has become so expensive.@@@@1@16@@oe@2-2-2013
21004011@unknown@formal@none@1@S@A state-of-the-art plant cost $40 million in the mid-1970s but costs $500 million today because the technology is so complex.@@@@1@20@@oe@2-2-2013
21004012@unknown@formal@none@1@S@And IBM said it expects the costs to continue climbing.@@@@1@10@@oe@2-2-2013
21004013@unknown@formal@none@1@S@IBM, which said Motorola is paying just a nominal fee to cover the 21-month agreement, acknowledged some companies had turned down its invitation to join in.@@@@1@26@@oe@2-2-2013
21004014@unknown@formal@none@1@S@But it said that was mainly because the project may not bear fruit until the mid-1990s.@@@@1@16@@oe@2-2-2013
21004015@unknown@formal@none@1@S@IBM said it thought more companies would become interested as the project progresses.@@@@1@13@@oe@2-2-2013
21004016@unknown@formal@none@1@S@The project involving Motorola concerns a technique, called X-ray lithography, that figures to be crucial to future generations of memory chips.@@@@1@21@@oe@2-2-2013
21004017@unknown@formal@none@1@S@Currently, chips are produced by shining light through a mask to produce an image on the chip, much as a camera produces an image on film.@@@@1@26@@oe@2-2-2013
21004018@unknown@formal@none@1@S@But details on chips must now be extraordinarily fine, and the wavelengths of even ultraviolet light are long enough so that the images they draw may be too blurry -- much as someone using a wide paintbrush could produce a broad line but would have trouble painting a thin one.@@@@1@50@@oe@2-2-2013
21004019@unknown@formal@none@1@S@X-rays, by contrast, travel straighter and can be focused more tightly than light.@@@@1@13@@oe@2-2-2013
21004020@unknown@formal@none@1@S@X-rays have problems, too.@@@@1@4@@oe@2-2-2013
21004021@unknown@formal@none@1@S@They can make the masks brittle and can pass through material they're not supposed to.@@@@1@15@@oe@2-2-2013
21004022@unknown@formal@none@1@S@But, assuming those problems can be overcome, they should allow for memory chips that could approach one billion bits of information -- 250 times as much as is contained in the four-megabit chips that are just reaching the market and a million times what was possible in the mid-1970s.@@@@1@49@@oe@2-2-2013
21005001@unknown@formal@none@1@S@Allied-Signal Aerospace Co. received a $65 million contract to outfit Continental Airlines' 393 planes with the Bendix/King Traffic Alert and Collision Avoidance System.@@@@1@23@@oe@2-2-2013
21005002@unknown@formal@none@1@S@The airborne system operates independent of ground-based radar systems, informing pilots of nearby aircraft, Allied-Signal said.@@@@1@16@@oe@2-2-2013
21005003@unknown@formal@none@1@S@The system also provides course-correction advisories.@@@@1@6@@oe@2-2-2013
21005004@unknown@formal@none@1@S@Allied-Signal is a unit of Allied-Signal Inc., a manufacturer with interests in aerospace, automotive products and engineered materials.@@@@1@18@@oe@2-2-2013
21005005@unknown@formal@none@1@S@Continental Airlines is a unit of Texas Air Corp., Houston.@@@@1@10@@oe@2-2-2013
21006001@unknown@formal@none@1@S@In a stunning shift in direction, Provigo Inc. said it will sell all its non-food operations to concentrate solely on its retail and wholesale grocery business.@@@@1@26@@oe@2-2-2013
21006002@unknown@formal@none@1@S@The non-food operations accounted for about 27% of Provigo's 7.38 billion Canadian dollars (US$6.3 billion) in sales in the latest fiscal year.@@@@1@22@@oe@2-2-2013
21006003@unknown@formal@none@1@S@In a related move, Pierre Lortie, chairman and chief executive, resigned.@@@@1@11@@oe@2-2-2013
21006004@unknown@formal@none@1@S@Mr. Lortie joined Provigo in 1985 and spearheaded the company's drive to grow outside its traditional food business.@@@@1@18@@oe@2-2-2013
21006005@unknown@formal@none@1@S@He couldn't be reached for comment.@@@@1@6@@oe@2-2-2013
21006006@unknown@formal@none@1@S@Bertin Nadeau, newly appointed chairman and interim chief executive of Provigo, wouldn't say if Mr. Lortie was asked to leave.@@@@1@20@@oe@2-2-2013
21006007@unknown@formal@none@1@S@"Mr. Lortie felt less pertinent," Mr. Nadeau said, given the decision to dump Provigo's non-food operations.@@@@1@16@@oe@2-2-2013
21006008@unknown@formal@none@1@S@"At this stage it was felt I was perhaps more pertinent as chief executive."@@@@1@14@@oe@2-2-2013
21006009@unknown@formal@none@1@S@Mr. Nadeau also is chairman and chief executive of Unigesco Inc., Provigo's controlling shareholder.@@@@1@14@@oe@2-2-2013
21006010@unknown@formal@none@1@S@At a news conference, Mr. Nadeau said the sale of the three non-food businesses, which account for nearly half the company's C$900 million in assets, should be completed in a "matter of months."@@@@1@33@@oe@2-2-2013
21006011@unknown@formal@none@1@S@The three units are a nationwide pharmaceutical and health-products distributor, a small sporting-goods chain, and a combination catalog showroom and toy-store chain.@@@@1@22@@oe@2-2-2013
21006012@unknown@formal@none@1@S@Investors and analysts applauded the news.@@@@1@6@@oe@2-2-2013
21006013@unknown@formal@none@1@S@Provigo was the most active industrial stock on the Montreal Exchange, where it closed at C$9.75 (US$8.32), up 75 Canadian cents.@@@@1@21@@oe@2-2-2013
21006014@unknown@formal@none@1@S@"I think it's a pretty positive development," said Ross Cowan, a financial analyst with Levesque Beaubien Geoffrion Inc., of the decision to concentrate on groceries.@@@@1@25@@oe@2-2-2013
21006015@unknown@formal@none@1@S@Mr. Lortie's departure, while sudden, was seen as inevitable in light of the shift in strategy.@@@@1@16@@oe@2-2-2013
21006016@unknown@formal@none@1@S@"The non-food operations were largely Mr. Lortie's creation {and} his strategy didn't work," said Steven Holt, a financial analyst with Midland Doherty Ltd.@@@@1@23@@oe@2-2-2013
21006017@unknown@formal@none@1@S@Provigo's profit record over the past two years tarnished the company's and Mr. Lortie's reputations.@@@@1@15@@oe@2-2-2013
21006018@unknown@formal@none@1@S@For the six months ended Aug. 12, Provigo posted net income of C$6.5 million, or eight Canadian cents a share, compared with C$18.1 million, or 21 Canadian cents a share, a year earlier.@@@@1@33@@oe@2-2-2013
21006019@unknown@formal@none@1@S@Sales were C$4.2 billion compared with C$3.7 billion.@@@@1@8@@oe@2-2-2013
21006020@unknown@formal@none@1@S@Last month, Canadian Bond Rating Service downgraded Provigo's commercial paper and debentures because of its lackluster performance.@@@@1@17@@oe@2-2-2013
21006021@unknown@formal@none@1@S@Analysts are skeptical Provigo will be able to sell the non-food businesses as a group for at least book value, and are expecting write-downs.@@@@1@24@@oe@2-2-2013
21006022@unknown@formal@none@1@S@Mr. Nadeau said he couldn't yet say if the sale prices would match book values.@@@@1@15@@oe@2-2-2013
21006023@unknown@formal@none@1@S@He said all three non-food operations are profitable.@@@@1@8@@oe@2-2-2013
21006024@unknown@formal@none@1@S@Mr. Nadeau said discussions are under way with potential purchasers of each of the units.@@@@1@15@@oe@2-2-2013
21006025@unknown@formal@none@1@S@He declined to confirm or deny reports that Provigo executive Henri Roy is trying to put together a management buy-out of the catalogue showroom unit.@@@@1@25@@oe@2-2-2013
21006026@unknown@formal@none@1@S@Mr. Roy couldn't be reached.@@@@1@5@@oe@2-2-2013
21006027@unknown@formal@none@1@S@Yvon Bussieres was named senior executive vice president and chief operating officer of Provigo, a new position.@@@@1@17@@oe@2-2-2013
21006028@unknown@formal@none@1@S@Mr. Bussieres was president and chief operating officer of Provigo's Quebec retail and wholesale grocery unit.@@@@1@16@@oe@2-2-2013
21006029@unknown@formal@none@1@S@Mr. Nadeau said he intends to remain Provigo's chief executive only until the non-food businesses are sold, after a which a new chief executive will be named.@@@@1@27@@oe@2-2-2013
21007001@unknown@formal@none@1@S@Comments by Federal Reserve Board Chairman Alan Greenspan lent some support to the dollar, but the U.S. unit ended yesterday lower against most major currencies.@@@@1@25@@oe@2-2-2013
21007002@unknown@formal@none@1@S@Foreign-exchange dealers noted that the impact of the chairman's remarks was slight and warned that the currency remains sensitive to developments on Wall Street.@@@@1@24@@oe@2-2-2013
21007003@unknown@formal@none@1@S@Traders said that Mr. Greenspan, whose statements are ordinarily cautious, was especially careful to avoid any jarring proclamations, with fears about equities still unnerving financial markets.@@@@1@26@@oe@2-2-2013
21007004@unknown@formal@none@1@S@Testifying before a panel of the House Banking Committee, Mr. Greenspan said the short-term value of the dollar on foreign-exchange markets isn't the primary policy focus of the central bank.@@@@1@30@@oe@2-2-2013
21007005@unknown@formal@none@1@S@"Our essential focus is on domestic policy," Mr. Greenspan said, referring to the goals of price stability and a stable economy.@@@@1@21@@oe@2-2-2013
21007006@unknown@formal@none@1@S@In perhaps his most telling remark, Mr. Greenspan termed the current U.S. inflation rate of around 4.5% as "much too high to be ignored."@@@@1@24@@oe@2-2-2013
21007007@unknown@formal@none@1@S@He added, however, that inflation could be brought down "close to zero" without throwing the economy into a recession.@@@@1@19@@oe@2-2-2013
21007008@unknown@formal@none@1@S@Analysts viewed the chairman's comments as an indication that the central bank is disinclined to ease monetary policy further in the near future.@@@@1@23@@oe@2-2-2013
21007009@unknown@formal@none@1@S@The dollar climbed immediately higher on news of Mr. Greenspan's testimony, settling lower in later trade as dealers squared positions ahead of today's preliminary report on third-quarter U.S. gross national product.@@@@1@31@@oe@2-2-2013
21007010@unknown@formal@none@1@S@In late New York trading yesterday, the dollar was quoted at 1.8353 marks, down from 1.8355 marks Tuesday, and at 141.52 yen, up from 141.45 yen late Tuesday.@@@@1@28@@oe@2-2-2013
21007011@unknown@formal@none@1@S@Sterling was quoted at $1.6145, up from $1.6055 late Tuesday.@@@@1@10@@oe@2-2-2013
21007012@unknown@formal@none@1@S@In Tokyo Thursday, the U.S. currency opened for trading at 141.60 yen, up from Wednesday's Tokyo close of 141.55 yen.@@@@1@20@@oe@2-2-2013
21007013@unknown@formal@none@1@S@Many traders forecast a continuation of the market's recent bearish trend and predict the U.S. currency will remain stuck in its relatively narrow ranges in the near term and then shift lower.@@@@1@32@@oe@2-2-2013
21007014@unknown@formal@none@1@S@But according to Doug Madison, a corporate trader with Bank of America in Los Angeles, a large number of short positions must first be corrected, spurring a temporary upswing, before the unit can turn lower.@@@@1@35@@oe@2-2-2013
21007015@unknown@formal@none@1@S@He predicts a downward move in dollar-mark trade and a less dramatic slip in dollar-yen, noting that there continues to be a large pool of Japanese investor interest in U.S. securities, which could provide a solid base for the dollar at around 140 yen.@@@@1@44@@oe@2-2-2013
21007016@unknown@formal@none@1@S@Market participants hope today's GNP report will offer more substantial evidence on U.S. economic growth, although analysts are quick to point out that the figures may overstate the economy's vigor.@@@@1@30@@oe@2-2-2013
21007017@unknown@formal@none@1@S@"The `r' word is looming again," says one dealer, referring to persistent concern among some market analysts that the U.S. economy is heading toward a major slowdown if not a recession.@@@@1@31@@oe@2-2-2013
21007018@unknown@formal@none@1@S@Some dealers note that while the third-quarter figures may appear relatively bullish -- the market consensus calls for a 2.5% annual growth rate, unchanged from the second-quarter rate -- it would take a significantly stronger figure to alter market perceptions that the economy is softening.@@@@1@45@@oe@2-2-2013
21007019@unknown@formal@none@1@S@Some analysts reckon that the next quarter's figures will present a more accurate picture of the U.S. economy, showing a marked slowdown in a number of sectors, including housing starts and equities.@@@@1@32@@oe@2-2-2013
21007020@unknown@formal@none@1@S@On the Commodity Exchange in New York, gold for current delivery settled at $369.10 an ounce, down $1.10.@@@@1@18@@oe@2-2-2013
21007021@unknown@formal@none@1@S@Estimated volume was a light 1.7 million ounces.@@@@1@8@@oe@2-2-2013
21007022@unknown@formal@none@1@S@In early trading in Hong Kong Thursday, gold was quoted at $368.24 an ounce.@@@@1@14@@oe@2-2-2013
21008001@unknown@formal@none@1@S@Lawrence Insurance Group Inc. said it acquired United Republic Reinsurance Co., a Houston property and casualty reinsurance company, from United Savings Association of Texas for $28 million.@@@@1@27@@oe@2-2-2013
21008002@unknown@formal@none@1@S@Lawrence Insurance also sold 3.2 million of its shares for $7.125 each to its parent, Lawrence Group Inc.@@@@1@18@@oe@2-2-2013
21008003@unknown@formal@none@1@S@Lawrence Insurance, based in Albany, N.Y., plans to use the $22.5 million in proceeds to help finance the acquisition of United Republic.@@@@1@22@@oe@2-2-2013
21008004@unknown@formal@none@1@S@By acquiring the shares, Lawrence Group increased its stake in Lawrence Insurance to 93.2% from 91.2%.@@@@1@16@@oe@2-2-2013
21008005@unknown@formal@none@1@S@Lawrence Insurance underwrites mostly primary insurance, a company spokesman said.@@@@1@10@@oe@2-2-2013
21008006@unknown@formal@none@1@S@A reinsurance company effectively insures insurance companies that wish to spread the risk of a particular policy.@@@@1@17@@oe@2-2-2013
21008007@unknown@formal@none@1@S@Lawrence Group also owns Lawrence Agency Corp., Schenectady, N.Y., an insurance agency and brokerage.@@@@1@14@@oe@2-2-2013
21009001@unknown@formal@none@1@S@Levi Strauss Associates Inc., the closely held owner of Levi Strauss & Co., said its fiscal third-quarter earnings jumped to $128.6 million from $31.3 million a year earlier, aided by a $69.8 million gain from the sale of stock in a Japanese subsidiary.@@@@1@43@@oe@2-2-2013
21009002@unknown@formal@none@1@S@The apparel holding company had sales in the quarter ended Aug. 27 of $1 billion, up 12% from $908.8 million a year ago.@@@@1@23@@oe@2-2-2013
21009003@unknown@formal@none@1@S@The company said its quarterly results are now being publicly filed as the result of the formation earlier this year of employee stock investment plans.@@@@1@25@@oe@2-2-2013
21010001@unknown@formal@none@1@S@Wall Street would like UAL Corp.'s board to change its mind about keeping the company independent.@@@@1@16@@oe@2-2-2013
21010002@unknown@formal@none@1@S@But what happens next in the continuing takeover drama may depend more on the company's two most powerful and fractious unions: the pilots and machinists.@@@@1@25@@oe@2-2-2013
21010003@unknown@formal@none@1@S@Some people familiar with the situation believe that the collapse of the previous $6.79 billion buy-out, if anything, may have strengthened the hands of these two labor groups.@@@@1@28@@oe@2-2-2013
21010004@unknown@formal@none@1@S@As a result, both may now have virtual veto power over any UAL transaction.@@@@1@14@@oe@2-2-2013
21010005@unknown@formal@none@1@S@One reason: banks -- likely to react to any new UAL deal with even more caution than the first time around -- probably will insist on labor harmony before they agree to put up cash for any new bid or even a less-ambitious recapitalization plan.@@@@1@45@@oe@2-2-2013
21010006@unknown@formal@none@1@S@"United pilots have shown on a number of occasions they are willing and able to strike," said an executive at Fuji Bank, one of UAL's large lenders.@@@@1@27@@oe@2-2-2013
21010007@unknown@formal@none@1@S@"If you have both {labor} groups on strike, you've got no revenue and that's a very scary thing for a bank to be looking at."@@@@1@25@@oe@2-2-2013
21010008@unknown@formal@none@1@S@Just this past week, a leading Japanese bank asked for a meeting with the machinists' union leaders to determine where the union would stand if another bid or recapitalization became possible.@@@@1@31@@oe@2-2-2013
21010009@unknown@formal@none@1@S@Another reason: Emboldened by their success in helping to scuttle the previous transaction, the machinists are likely to be more aggressive if a second buy-out attempt occurs.@@@@1@27@@oe@2-2-2013
21010010@unknown@formal@none@1@S@The two unions already had significant leverage simply because their employer has yet to settle with either on new contracts.@@@@1@20@@oe@2-2-2013
21010011@unknown@formal@none@1@S@That gives them both the threat of a strike and the ability to resist any wage concessions that may be necessary to make a transaction work.@@@@1@26@@oe@2-2-2013
21010012@unknown@formal@none@1@S@Thus, even investors who are pushing for the board to do a recapitalization that would pay shareholders a special dividend and possibly grant employees an ownership stake acknowledge that the unions are key.@@@@1@33@@oe@2-2-2013
21010013@unknown@formal@none@1@S@"There's less likelihood of creating and completing a transaction without the unions' cooperation and wage concessions," said Richard Nye, of Baker, Nye Investments, a New York takeover stock-trader.@@@@1@28@@oe@2-2-2013
21010014@unknown@formal@none@1@S@Mr. Nye thinks the UAL board should be ousted if it doesn't move soon to increase shareholder value.@@@@1@18@@oe@2-2-2013
21010015@unknown@formal@none@1@S@Both the pilots and machinists have made it clear that they intend to block any transaction they don't like.@@@@1@19@@oe@2-2-2013
21010016@unknown@formal@none@1@S@"The pilots will be involved in any transaction that takes place around here," pilot union chairman Frederick C. Dubinsky declared yesterday.@@@@1@21@@oe@2-2-2013
21010017@unknown@formal@none@1@S@But whether the pilots can team up with their longtime adversaries, the machinists, is another question.@@@@1@16@@oe@2-2-2013
21010018@unknown@formal@none@1@S@The pilots' Mr. Dubinsky says his union would like majority ownership for employees.@@@@1@13@@oe@2-2-2013
21010019@unknown@formal@none@1@S@At the very least, the pilots want some form of control over the airline, perhaps through super-majority voting rights.@@@@1@19@@oe@2-2-2013
21010020@unknown@formal@none@1@S@On the other hand, the machinists have always opposed majority ownership in principle, saying they don't think employees should be owners.@@@@1@21@@oe@2-2-2013
21010021@unknown@formal@none@1@S@Still, in recent days, machinists' union leaders have shown some new flexibility.@@@@1@12@@oe@2-2-2013
21010022@unknown@formal@none@1@S@"We may be able to reach a tradeoff where we can accommodate {the pilot union's} concerns and ours," said Brian M. Freeman, the machinists' financial adviser.@@@@1@26@@oe@2-2-2013
21010023@unknown@formal@none@1@S@Mr. Freeman said machinists' union advisers plan to meet this week to try to draw up a blueprint for some form of recapitalization that could include a special dividend for shareholders, an employee stake and, perhaps, an equity investment by a friendly investor.@@@@1@43@@oe@2-2-2013
21010024@unknown@formal@none@1@S@If a compromise can't be reached, the pilots maintain they can do a transaction without the support of the machinists.@@@@1@20@@oe@2-2-2013
21010025@unknown@formal@none@1@S@But at this point, that may just be wishful thinking.@@@@1@10@@oe@2-2-2013
21010026@unknown@formal@none@1@S@The machinists lobbied heavily against the original bid from UAL pilots and management for the company.@@@@1@16@@oe@2-2-2013
21010027@unknown@formal@none@1@S@Their opposition helped scare off some Japanese banks.@@@@1@8@@oe@2-2-2013
21010028@unknown@formal@none@1@S@The pilots' insistence on majority ownership also may make the idea of a recapitalization difficult to achieve.@@@@1@17@@oe@2-2-2013
21010029@unknown@formal@none@1@S@"Who wants to be a public shareholder investing in a company controlled by the pilots' union?" asks Candace Browning, an analyst at Wertheim Schroeder & Co.@@@@1@26@@oe@2-2-2013
21010030@unknown@formal@none@1@S@"Who would the board be working for -- the public shareholders or the pilots?" she adds.@@@@1@16@@oe@2-2-2013
21010031@unknown@formal@none@1@S@Ms. Browning says she believes a recapitalization involving employee ownership would succeed only if the pilots relent on their demand for control.@@@@1@22@@oe@2-2-2013
21010032@unknown@formal@none@1@S@She also notes that even if the pilots accept a minority stake now, they still could come back at a later time and try to take control.@@@@1@27@@oe@2-2-2013
21010033@unknown@formal@none@1@S@Another possibility is for the pilots' to team up with an outside investor who might try to force the ouster of the board through the solicitation of consents.@@@@1@28@@oe@2-2-2013
21010034@unknown@formal@none@1@S@In that way, the pilots may be able to force the board to approve a recapitalization that gives employees a majority stake, or to consider the labor-management group's latest proposal.@@@@1@30@@oe@2-2-2013
21010035@unknown@formal@none@1@S@The group didn't make a formal offer, but instead told UAL's advisers before the most-recent board meeting that it was working on a bid valued at between $225 and $240 a share.@@@@1@32@@oe@2-2-2013
21010036@unknown@formal@none@1@S@But again, they may need the help of the machinists.@@@@1@10@@oe@2-2-2013
21010037@unknown@formal@none@1@S@"I think the dynamics of this situation are that something's got to happen," said one official familiar with the situation.@@@@1@20@@oe@2-2-2013
21010038@unknown@formal@none@1@S@The board and UAL's management, he says, "can't go back" to business as usual.@@@@1@14@@oe@2-2-2013
21010039@unknown@formal@none@1@S@"The pilots won't let them.@@@@1@5@@oe@2-2-2013
21011001@unknown@formal@none@1@S@Delta Air Lines earnings soared 33% to a record in the fiscal first quarter, bucking the industry trend toward declining profits.@@@@1@21@@oe@2-2-2013
21011002@unknown@formal@none@1@S@The Atlanta-based airline, the third largest in the U.S., attributed the increase to higher passenger traffic, new international routes and reduced service by rival Eastern Airlines, which is in bankruptcy proceedings in the wake of a strike that began last spring.@@@@1@41@@oe@2-2-2013
21011003@unknown@formal@none@1@S@For the quarter ended Sept. 30, Delta posted net income of $133.1 million, or $2.53 a share, up from $100 million, or $2.03 a share, a year earlier.@@@@1@28@@oe@2-2-2013
21011004@unknown@formal@none@1@S@Revenue rose 15% to $2.17 billion from $1.89 billion.@@@@1@9@@oe@2-2-2013
21011005@unknown@formal@none@1@S@During the quarter, Delta issued 2.5 million shares of common stock to Swissair, and repurchased 1.1 million shares for use in a company employee stock ownership plan.@@@@1@27@@oe@2-2-2013
21011006@unknown@formal@none@1@S@"The key to Delta's record earnings continued to be excellent passenger revenue growth," said Thomas Roeck, chief financial officer.@@@@1@19@@oe@2-2-2013
21011007@unknown@formal@none@1@S@Passenger traffic jumped 14% in the quarter, while profit per passenger grew 2%.@@@@1@13@@oe@2-2-2013
21011008@unknown@formal@none@1@S@Delta has benefited more than other carriers from the weakness of Eastern Airlines, which shares the Atlanta hub.@@@@1@18@@oe@2-2-2013
21011009@unknown@formal@none@1@S@Although Eastern is back to about 80% of its pre-strike schedule now, the Texas Air Corp. subsidiary was only beginning to get back on its feet during the quarter.@@@@1@29@@oe@2-2-2013
21011010@unknown@formal@none@1@S@Separately, America West Airlines, Phoenix, Ariz., reported third-quarter profit jumped 45% to $5.8 million, or 28 cents a share, from $4 million, or 24 cents a share, a year earlier.@@@@1@30@@oe@2-2-2013
21011011@unknown@formal@none@1@S@The latest results include a $2.6 million one-time payment from a "foreign entity."@@@@1@13@@oe@2-2-2013
21011012@unknown@formal@none@1@S@America West wouldn't identify the entity, but said the payment was for the foreign company's use of certain tax benefits in connection with America West plane purchases.@@@@1@27@@oe@2-2-2013
21011013@unknown@formal@none@1@S@Year-earlier results included an extraordinary gain of $1.6 million from a buy-back of convertible subordinated debentures.@@@@1@16@@oe@2-2-2013
21011014@unknown@formal@none@1@S@Revenue rose 21% to $243.4 million from $201.2 million.@@@@1@9@@oe@2-2-2013
21011015@unknown@formal@none@1@S@For the nine months, America West posted earnings of $18.9 million, or 97 cents a share, compared with a loss of $9.7 million, or 74 cents a share, a year earlier.@@@@1@31@@oe@2-2-2013
21011016@unknown@formal@none@1@S@Revenue rose 27% to $715.1 million from $563.8 million.@@@@1@9@@oe@2-2-2013
21012001@unknown@formal@none@1@S@PAPERS:@@@@1@1@@oe@2-2-2013
21012002@unknown@formal@none@1@S@Thomson Corp.'s Globe & Mail newspaper in November will begin transmitting an experimental edition to selected subscribers' facsimile machines.@@@@1@19@@oe@2-2-2013
21012003@unknown@formal@none@1@S@The four-page news summary will be aimed at readers outside Canada or in Canadian locations where the national daily isn't available on the day of publication.@@@@1@26@@oe@2-2-2013
21012004@unknown@formal@none@1@S@In the U.S., the Hartford Courant has a facsimile edition and some other newspapers are considering the idea.@@@@1@18@@oe@2-2-2013
21012005@unknown@formal@none@1@S@WHO'S NEWS:@@@@1@2@@oe@2-2-2013
21012006@unknown@formal@none@1@S@Michael T. Carr, advertising director of Playboy magazine, was named publisher of National Lampoon and Heavy Metal magazines, succeeding George Agoglia.@@@@1@21@@oe@2-2-2013
21012007@unknown@formal@none@1@S@It was the first management change since film-makers Daniel Grodnik and Tim Matheson took control of National Lampoon Inc. in March.@@@@1@21@@oe@2-2-2013
21012008@unknown@formal@none@1@S@They are looking for a new editor for National Lampoon and are trying to sell Heavy Metal.@@@@1@17@@oe@2-2-2013
21013001@unknown@formal@none@1@S@Columbia Savings & Loan Association, reeling from thrift-accounting changes mandated by Congress and the recent collapse of the junk-bond market, announced a loss for the third quarter of $226.3 million, or $11.57 a share.@@@@1@34@@oe@2-2-2013
21013002@unknown@formal@none@1@S@For the quarter a year ago, Columbia reported earnings of $16.3 million, or 37 cents a share.@@@@1@17@@oe@2-2-2013
21013003@unknown@formal@none@1@S@Total assets increased to $12.7 billion in the latest quarter from $12.4 billion a year earlier.@@@@1@16@@oe@2-2-2013
21013004@unknown@formal@none@1@S@The loss stems from $357.5 million of write-downs on Columbia's $4.4 billion high-yield investment securities portfolio, which includes about $3.7 billion of junk bonds, $400 million of preferred stock, and Treasury securities.@@@@1@32@@oe@2-2-2013
21013005@unknown@formal@none@1@S@Columbia owes its spectacular growth in recent years to its junk-bond portfolio, the largest of any U.S. thrift.@@@@1@18@@oe@2-2-2013
21013006@unknown@formal@none@1@S@Much of Columbia's junk-bond trading has been done through the high-yield department of its Beverly Hills neighbor, Drexel Burnham Lambert Inc.@@@@1@21@@oe@2-2-2013
21013007@unknown@formal@none@1@S@For the nine months, losses totaled $212 million, or $10.83 a share, compared with net income of $48.7 million, or $1.11 a share, a year earlier.@@@@1@26@@oe@2-2-2013
21013008@unknown@formal@none@1@S@The results include a $130.2 million write-down of the securities in the high-yield portfolio to the lower of their cost or market value.@@@@1@23@@oe@2-2-2013
21013009@unknown@formal@none@1@S@Columbia also added $227.3 million to reserves for losses on the portfolio, increasing general reserves to $300 million, or about 6.7% of the total portfolio, as of Sept. 30.@@@@1@29@@oe@2-2-2013
21013010@unknown@formal@none@1@S@On June 30, loss reserves stood at $108.3 million.@@@@1@9@@oe@2-2-2013
21013011@unknown@formal@none@1@S@Thrift officials said the $300 million reserve will be adjusted quarterly and will reflect the rate of dispositions and market conditions.@@@@1@21@@oe@2-2-2013
21013012@unknown@formal@none@1@S@The adjustments result from the recently passed thrift-industry bailout legislation, which requires thrifts to divest all high-yield bond investments by 1994.@@@@1@21@@oe@2-2-2013
21013013@unknown@formal@none@1@S@Previously, Columbia didn't have to adjust the book value of its junk-bond holdings to reflect declines in market prices, because it held the bonds as long-term investments.@@@@1@27@@oe@2-2-2013
21013014@unknown@formal@none@1@S@Because Columbia now must sell the bonds within five years, accounting rules require the thrift to value the bonds at the lower of cost or market prices.@@@@1@27@@oe@2-2-2013
21013015@unknown@formal@none@1@S@For its future strategy, Columbia officials said the thrift may branch out into commercial lending or managing outside investments, as well as beefing up more traditional thrift activities.@@@@1@28@@oe@2-2-2013
21013016@unknown@formal@none@1@S@The quarterly results also reflected $21.4 million in non-recurring losses from commercial real-estate activities in California.@@@@1@16@@oe@2-2-2013
21013017@unknown@formal@none@1@S@Thomas Spiegel, Columbia's chairman, said in a statement that the thrift was "disappointed" by the effects of the accounting changes.@@@@1@20@@oe@2-2-2013
21013018@unknown@formal@none@1@S@But he said Columbia remains "one of the most strongly capitalized thrifts in the industry," based on the economic value of its assets and tangible capital.@@@@1@26@@oe@2-2-2013
21013019@unknown@formal@none@1@S@Columbia announced the results after the close of the stock market.@@@@1@11@@oe@2-2-2013
21013020@unknown@formal@none@1@S@Its shares closed at $5.125 each in composite New York Stock Exchange trading, down 37.5 cents.@@@@1@16@@oe@2-2-2013
21013021@unknown@formal@none@1@S@The price of Columbia shares has been cut nearly in half since August, when they traded at about $10, as investors apparently realized that the thrift would be forced to take a big write-down.@@@@1@34@@oe@2-2-2013
21013022@unknown@formal@none@1@S@The stock's decline accelerated in the past two weeks, from a price of $8 a share on Oct. 9.@@@@1@19@@oe@2-2-2013
21013023@unknown@formal@none@1@S@Columbia officials said they don't know how quickly they will dispose of the thrift's junk bonds, because federal regulations, such as those that would allow thrifts to continue holding the bonds in separately capitalized subsidiaries, haven't yet been completed.@@@@1@39@@oe@2-2-2013
21013024@unknown@formal@none@1@S@Columbia officials also said the thrift shouldn't face problems meeting regulatory capital requirements, despite the large reserves and write-downs and stiffer regulatory requirements that should be in place by year's end.@@@@1@31@@oe@2-2-2013
21013025@unknown@formal@none@1@S@Its ratio of tangible equity to total assets as of Sept. 30 was 3.6%, and total equity was $457.9 million.@@@@1@20@@oe@2-2-2013
21013026@unknown@formal@none@1@S@The thrift emphasized that it has a large portfolio of equity securities issued in connection with corporate restructurings and leveraged buy-outs, which has a book value of $90 million.@@@@1@29@@oe@2-2-2013
21013027@unknown@formal@none@1@S@Although many of the transactions related to those securities haven't been completed, Columbia said the ultimate gain on the sale of those assets will range from $200 million to $300 million.@@@@1@31@@oe@2-2-2013
21013028@unknown@formal@none@1@S@Columbia also has unrealized gains in its public equity securities portfolio of more than $70 million.@@@@1@16@@oe@2-2-2013
21013029@unknown@formal@none@1@S@David B. Hilder in New York contributed to this article.@@@@1@10@@oe@2-2-2013
21014001@unknown@formal@none@1@S@Anheuser-Busch Cos. said it plans to aggressively discount its major beer brands, setting the stage for a potentially bruising price war as the maturing industry's growth continues to slow.@@@@1@29@@oe@2-2-2013
21014002@unknown@formal@none@1@S@Anheuser, the world's largest brewer and U.S. market leader, has historically been reluctant to engage in price-cutting as a means of boosting sales volume.@@@@1@24@@oe@2-2-2013
21014003@unknown@formal@none@1@S@With the passing of the heady days of swelling industry sales, however, the once-sporadic and brief forays into discounting are becoming standard competitive weapons in the beer industry.@@@@1@28@@oe@2-2-2013
21014004@unknown@formal@none@1@S@Over the summer, Anheuser competitors offered more and deeper discounts than industry observers have seen for a long time.@@@@1@19@@oe@2-2-2013
21014005@unknown@formal@none@1@S@Some experts now predict Anheuser's entry into the fray means near-term earnings trouble for all the industry players.@@@@1@18@@oe@2-2-2013
21014006@unknown@formal@none@1@S@The St. Louis company said major rivals, Philip Morris Co.'s Miller Brewing unit and Adolph Coors Co. "have been following a policy of continuous and deep discounting for at least the past 18 months" on their premium brands, pricing their product as much as 25 cents a 12-pack below Anheuser's Budweiser label in many markets.@@@@1@55@@oe@2-2-2013
21014007@unknown@formal@none@1@S@Anheuser said it's discounting policy basically would involve matching such moves by rivals on a market-by-market basis.@@@@1@17@@oe@2-2-2013
21014008@unknown@formal@none@1@S@Anheuser-Busch announced its plan at the same time it reported third-quarter net income rose a lower-than-anticipated 5.2% to $238.3 million, or 83 cents a share, from $226.5 million, or 78 cents.@@@@1@31@@oe@2-2-2013
21014009@unknown@formal@none@1@S@Third-period sales were $2.49 billion, up from last year's $2.34 billion.@@@@1@11@@oe@2-2-2013
21014010@unknown@formal@none@1@S@Anheuser said its new strategy -- started in some markets last month and expected to be applied soon in selected markets nationwide -- will mean lower-than-anticipated earnings for the last half of 1989 and for 1990.@@@@1@36@@oe@2-2-2013
21014011@unknown@formal@none@1@S@The projection sent Anheuser shares plunging $4.375 in New York Stock Exchange composite trading yesterday.@@@@1@15@@oe@2-2-2013
21014012@unknown@formal@none@1@S@The stock closed at $38.50 on heavy volume of about 3.5 million shares.@@@@1@13@@oe@2-2-2013
21014013@unknown@formal@none@1@S@Shares of Coors, the company's sole publicly traded major competitor, fell $1.50 apiece to $19.125 in national over-the-counter trading, apparently on investor concerns over potential fallout from the coming pricing struggle.@@@@1@31@@oe@2-2-2013
21014014@unknown@formal@none@1@S@Anheuser noted that "beer industry sales volume is 1989 is following the trend that has characterized the last half of the '80s, with sales volume being essentially flat" while consolidation creates fewer, bigger players.@@@@1@34@@oe@2-2-2013
21014015@unknown@formal@none@1@S@"We cannot permit a further slowing in our volume trend," Anheuser said, adding it will take "appropriate competitive pricing actions to support our long-term market share growth strategy" for the premium brands.@@@@1@32@@oe@2-2-2013
21014016@unknown@formal@none@1@S@Anheuser said it continues to hold to its earlier-announced goal of a 50% U.S. market share by the mid-1990s.@@@@1@19@@oe@2-2-2013
21014017@unknown@formal@none@1@S@Beneath the tepid news-release jargon lies a powerful threat from the brewing giant, which last year accounted for about 41% of all U.S. beer sales and is expected to see that grow to 42.5% in the current year.@@@@1@38@@oe@2-2-2013
21014018@unknown@formal@none@1@S@"Anheuser is the biggest guy in the bar, and he just decided to join in the barroom brawl," said Joseph J. Doyle, an analyst with Smith Barney, Harris Upham & Co.@@@@1@31@@oe@2-2-2013
21014019@unknown@formal@none@1@S@"It's going to get bloody."@@@@1@5@@oe@2-2-2013
21014020@unknown@formal@none@1@S@Jerry Steinman, publisher of Beer Marketers Insights, a trade newsletter, said Anheuser's announcement means "everybody else in the industry is going to have a difficult time reaching their profit objectives."@@@@1@30@@oe@2-2-2013
21014021@unknown@formal@none@1@S@Prudential-Bache Securities Inc. analyst George E. Thompson downplayed the importance of the announcement, and called any comparison between the coming beer-industry tiff and the seemingly unending "cola wars," unwarranted.@@@@1@29@@oe@2-2-2013
21014022@unknown@formal@none@1@S@Mr. Thompson calls discounting "a loser's game for anyone without a dominant market share," and projected that Anheuser's statement of intent could simply be a means of warning competitors to ease up on price-cutting or face a costly and fruitless battle.@@@@1@41@@oe@2-2-2013
21014023@unknown@formal@none@1@S@Mr. Thompson noted that the disappointing earnings, which fell five cents a share short of his own projections, contributed to the sell-off by an edgy and currently unforgiving investing public.@@@@1@30@@oe@2-2-2013
21014024@unknown@formal@none@1@S@But Smith Barney's Mr. Doyle, who yesterday trimmed his 1990 Anheuser earnings projection to $2.95 a share from $3.10, called the market's reaction "justified."@@@@1@24@@oe@2-2-2013
21014025@unknown@formal@none@1@S@While the third-quarter earnings were a "moderate disappointment," he said, "the real bad news is the intensity of price competition" in the premium-beer sector.@@@@1@24@@oe@2-2-2013
21014026@unknown@formal@none@1@S@According to Mr. Steinman, the newsletter publisher, Anheuser's market share is nearly twice that of its nearest competitor, Miller Brewing, which had a 21.2% stake last year.@@@@1@27@@oe@2-2-2013
21014027@unknown@formal@none@1@S@It's followed by Stroh Brewery Co., which has agreed to sell its assets to Coors.@@@@1@15@@oe@2-2-2013
21014028@unknown@formal@none@1@S@Both Coors and Stroh have recently been ceding market share to Miller and Anheuser.@@@@1@14@@oe@2-2-2013
21015001@unknown@formal@none@1@S@Tokyo stocks closed easier for the second consecutive day, finishing at the intraday low on index-linked investment trust fund selling toward the end of the afternoon session.@@@@1@27@@oe@2-2-2013
21015002@unknown@formal@none@1@S@Stocks rose in London, but fell again in Frankfurt.@@@@1@9@@oe@2-2-2013
21015003@unknown@formal@none@1@S@Tokyo's Nikkei index fell 84.15 points to 35442.40.@@@@1@8@@oe@2-2-2013
21015004@unknown@formal@none@1@S@Trading was active.@@@@1@3@@oe@2-2-2013
21015005@unknown@formal@none@1@S@Volume on the first section was estimated at 1 billion shares, up from 914 million Tuesday.@@@@1@16@@oe@2-2-2013
21015006@unknown@formal@none@1@S@The Tokyo stock price index of first section issues was down 8.65 at@@@@1@13@@oe@2-2-2013
21015007@unknown@formal@none@1@S@In early trading in Tokyo Thursday, the Nikkei index rose 145.45 points to 35587.85.@@@@1@14@@oe@2-2-2013
21015008@unknown@formal@none@1@S@On Wednesday, the market opened bullishly with high turnover, ignoring the volatility in New York stocks.@@@@1@16@@oe@2-2-2013
21015009@unknown@formal@none@1@S@But losers were spread in a broad range by the end of the session.@@@@1@14@@oe@2-2-2013
21015010@unknown@formal@none@1@S@A trader said that the more an issue gained recently, the sharper the loss sustained Wednesday.@@@@1@16@@oe@2-2-2013
21015011@unknown@formal@none@1@S@A trader at Yamaichi Securities said the market's mood was undercut by the continuing fall of Nippon Telegraph & Telephone shares, which declined to their lowest level since the begining of this year.@@@@1@33@@oe@2-2-2013
21015012@unknown@formal@none@1@S@NTT lost 30,000 yen to 1,380,000 yen ($9,756).@@@@1@8@@oe@2-2-2013
21015013@unknown@formal@none@1@S@Some traders noted individual investors dumped NTT shares amid growing expectation for a division of the company as suggested by a recent government-sponsored panel.@@@@1@24@@oe@2-2-2013
21015014@unknown@formal@none@1@S@Dealers said they also took profits to reduce holdings in their own account at the end of the October transaction period.@@@@1@21@@oe@2-2-2013
21015015@unknown@formal@none@1@S@Among pharmaceutical shares, Chugai lost 60 yen to 2,290 yen ($16.20), and Mochida fell 150 to 4,290.@@@@1@17@@oe@2-2-2013
21015016@unknown@formal@none@1@S@Other losing issues included Showa Shell, which fell 40 to 1,520.@@@@1@11@@oe@2-2-2013
21015017@unknown@formal@none@1@S@Toyota Motor fell 40 to 2,680.@@@@1@6@@oe@2-2-2013
21015018@unknown@formal@none@1@S@Sekisui House, which gained 150 Tuesday, lost 70 to 2640.@@@@1@10@@oe@2-2-2013
21015019@unknown@formal@none@1@S@Daiwa House also ended easier, but Misawa Home was firmer.@@@@1@10@@oe@2-2-2013
21015020@unknown@formal@none@1@S@Pioneer Electronic and Sony, both of which dominated buying earlier this month, continued to fall Wednesday.@@@@1@16@@oe@2-2-2013
21015021@unknown@formal@none@1@S@Pioneer was down 90 at 5,810, and Sony lost 40 to 8,550, down 10% from its record set Oct. 11.@@@@1@20@@oe@2-2-2013
21015022@unknown@formal@none@1@S@London share prices closed modestly higher largely on technical factors, although the market was underpinned near the end of the session by Wall Street's firmer trend.@@@@1@26@@oe@2-2-2013
21015023@unknown@formal@none@1@S@The Financial Times 100-share index finished at 2161.9, up 12.6 points.@@@@1@11@@oe@2-2-2013
21015024@unknown@formal@none@1@S@The 30-share index ended 12.6 points higher at 1751.9.@@@@1@9@@oe@2-2-2013
21015025@unknown@formal@none@1@S@Volume was thin at 374.6 million shares traded, down from 405.4 million Tuesday.@@@@1@13@@oe@2-2-2013
21015026@unknown@formal@none@1@S@Dealers said the market gained some late steam on a flurry of buying by market-makers looking at blue-chip issues and stocks viewed as oversold during the market's recent downtrend.@@@@1@29@@oe@2-2-2013
21015027@unknown@formal@none@1@S@Outside what essentially amounted to a bookkeeping exercise, dealers said London dealings were largely dulled by the absence of active interest beyond the market-makers.@@@@1@24@@oe@2-2-2013
21015028@unknown@formal@none@1@S@The late buying was drawn into the London market, dealers added, after Wall Street showed signs of stability following its rocky opening.@@@@1@22@@oe@2-2-2013
21015029@unknown@formal@none@1@S@Stocks that suffered on the day were those with active U.S. operations, dealers noted.@@@@1@14@@oe@2-2-2013
21015030@unknown@formal@none@1@S@Among them were B.A.T Industries, which settled 6 pence a share lower at 753 ($12.10).@@@@1@15@@oe@2-2-2013
21015031@unknown@formal@none@1@S@Hanson, with 15 million shares traded, closed 2.5 lower at 212.5.@@@@1@11@@oe@2-2-2013
21015032@unknown@formal@none@1@S@Dealers said the shares were hit by fears of a slowdown in the U.S. economy.@@@@1@15@@oe@2-2-2013
21015033@unknown@formal@none@1@S@Cable & Wireless benefited from a market squeeze, bouncing 13 to 498 in moderately active volume.@@@@1@16@@oe@2-2-2013
21015034@unknown@formal@none@1@S@Jaguar was boosted 21 to 715 on follow-through buying after Ford Motor's announcement Tuesday that it might be prepared to mount a full bid for the U.K. luxury auto maker.@@@@1@30@@oe@2-2-2013
21015035@unknown@formal@none@1@S@It was further helped by Ford, which announced after London's close that it had raised its stake to 12% from just under 11% on Tuesday.@@@@1@25@@oe@2-2-2013
21015036@unknown@formal@none@1@S@Frankfurt prices closed sharply lower in thin dealings, hurt by the roller-coaster session on Wall Street Tuesday and worries about wage demands by the largest West German trade union.@@@@1@29@@oe@2-2-2013
21015037@unknown@formal@none@1@S@The German stock index tumbled 26.29 to end at@@@@1@9@@oe@2-2-2013
21015038@unknown@formal@none@1@S@"It was dead, listless, depressing and negative," said one trader at a U.S. bank in Frankfurt.@@@@1@16@@oe@2-2-2013
21015039@unknown@formal@none@1@S@"There was little turnover and nothing to stimulate the market."@@@@1@10@@oe@2-2-2013
21015040@unknown@formal@none@1@S@Equities tumbled at the opening as Tuesday's gyrations on Wall Street, where the Dow Jones Industrial Average recovered most of an 80-point loss, fueled fears of another stock market crash, brokers said.@@@@1@32@@oe@2-2-2013
21015041@unknown@formal@none@1@S@Tough talk from trade union officials at the conference of the powerful IG Metall metals worker union in West Berlin raised the specter of nationwide strikes next spring, they said.@@@@1@30@@oe@2-2-2013
21015042@unknown@formal@none@1@S@For the 1990 wage negotiations, the IG Metall is demanding a further cut in the German workweek and steep wage increases, which could sharply increase the costs for German industry.@@@@1@30@@oe@2-2-2013
21015043@unknown@formal@none@1@S@"All the positive figures on the economy are out already, and people are focusing more on the dangers for next year, mostly the wage talks and the {parliamentary} elections," the U.S. trader said.@@@@1@33@@oe@2-2-2013
21015044@unknown@formal@none@1@S@The market also shrugged off positive factors, such as higher bond prices and a slowdown in monetary growth in September, traders said.@@@@1@22@@oe@2-2-2013
21015045@unknown@formal@none@1@S@They said they expect the bearish mood to persist a while longer, as trading volume is falling toward the end of the year and the market is becoming more volatile.@@@@1@30@@oe@2-2-2013
21015046@unknown@formal@none@1@S@In the auto sector, Bayerische Motoren Werke plunged 14.5 marks to 529 marks ($288), Daimler-Benz dropped 10.5 to 700, and Volkswagen slumped 9 to 435.5.@@@@1@25@@oe@2-2-2013
21015047@unknown@formal@none@1@S@Continental gave up some of its recent gains, dropping 8 to 338, as rumors of an impending takeover attempt for the tiremaker faded, brokers said.@@@@1@25@@oe@2-2-2013
21015048@unknown@formal@none@1@S@Deutsche Bank plummeted 12 to 645, hurt by the general mood.@@@@1@11@@oe@2-2-2013
21015049@unknown@formal@none@1@S@Other banks were slightly more resilient, with Dresdner Bank shedding 4.8 to 320, and Commerzbank slipping 2.5 to@@@@1@18@@oe@2-2-2013
21015050@unknown@formal@none@1@S@Meanwhile, Wall Street's volatility unnerved investors in other markets.@@@@1@9@@oe@2-2-2013
21015051@unknown@formal@none@1@S@Share prices closed lower in Paris, Zurich, Brussels, Milan and Stockholm, and mixed in Amsterdam.@@@@1@15@@oe@2-2-2013
21015052@unknown@formal@none@1@S@Among Pacific markets, prices closed lower in Sydney, Seoul, Hong Kong, Manila, Singapore and Wellington.@@@@1@15@@oe@2-2-2013
21015053@unknown@formal@none@1@S@Trading in Taipei was suspended for a national holiday.@@@@1@9@@oe@2-2-2013
21015054@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
21015055@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
21015056@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
21016001@unknown@formal@none@1@S@French chemicals group, Orkem S.A., said Wednesday it has made a bid for control of Coates Brothers PLC, a British manufacturer of inks and polyester resins.@@@@1@26@@oe@2-2-2013
21016002@unknown@formal@none@1@S@State-controlled Orkem already owns 40.6% of Coates.@@@@1@7@@oe@2-2-2013
21016003@unknown@formal@none@1@S@The remainder is held by the public and by family interests, a spokeswoman for the French group said.@@@@1@18@@oe@2-2-2013
21016004@unknown@formal@none@1@S@Orkem declined to give details of its offer, saying only that the bid will be submitted for approval by the board of the British company.@@@@1@25@@oe@2-2-2013
21017001@unknown@formal@none@1@S@The Democratic-controlled House, by a margin of 51 votes, failed to override President Bush's veto of legislation renewing federal support of Medicaid abortions for poor women who are victims of rape and incest.@@@@1@33@@oe@2-2-2013
21017002@unknown@formal@none@1@S@The 231-191 roll call illustrates the limits of power a resurgent abortion-rights movement still faces.@@@@1@15@@oe@2-2-2013
21017003@unknown@formal@none@1@S@It continues to gain strength in the chamber but remains far short of the two-thirds majority required to prevail over Mr. Bush.@@@@1@22@@oe@2-2-2013
21017004@unknown@formal@none@1@S@Democrats voted to override by a 3-1 margin, but Republicans were equally firm in support of the president, who has threatened to make abortion a decisive issue on at least three separate fiscal 1990 spending bills.@@@@1@36@@oe@2-2-2013
21017005@unknown@formal@none@1@S@Yesterday's vote dealt with the largest of these bills, an estimated $156.7 billion measure funding the departments of Labor, Education, and Health and Human Services.@@@@1@25@@oe@2-2-2013
21017006@unknown@formal@none@1@S@To gain more leverage, abortion-rights advocates may seek to fold the bill into an omnibus continuing resolution next month.@@@@1@19@@oe@2-2-2013
21017007@unknown@formal@none@1@S@But the stark numbers yesterday -- when 282 votes were needed -- indicate the president is in a commanding position for at least this year.@@@@1@25@@oe@2-2-2013
21017008@unknown@formal@none@1@S@"Unless he changes, they lose," said a Democratic leadership aide.@@@@1@10@@oe@2-2-2013
21017009@unknown@formal@none@1@S@The action came as Congress sent to the president last night a stopgap spending bill to keep the government operating through Nov. 15 and provide $2.85 billion in emergency funds to assist in the recovery from Hurricane Hugo and the California earthquake.@@@@1@42@@oe@2-2-2013
21017010@unknown@formal@none@1@S@By a lopsided 97-1 margin, the Senate approved the measure after attaching further provisions sought by the influential California delegation and, despite reservations, the House adopted the bill on a 303-107 roll call.@@@@1@33@@oe@2-2-2013
21017011@unknown@formal@none@1@S@The package is more than $1 billion above the recommendations of Budget Director Richard Darman this week.@@@@1@17@@oe@2-2-2013
21017012@unknown@formal@none@1@S@But given the political importance of California, the administration was content to use its influence to prevent any Senate amendments adding further new appropriations.@@@@1@24@@oe@2-2-2013
21017013@unknown@formal@none@1@S@The $2.85 billion measure comes on top of $1.1 billion appropriated after Hugo struck the Carolinas and Caribbean last month, and these totals don't reflect the additional benefit of low-interest disaster loans.@@@@1@32@@oe@2-2-2013
21017014@unknown@formal@none@1@S@The bill last night includes $500 million to help finance this credit and further raises the obligation ceiling for the Small Business Administration sixfold to $1.8 billion to accommodate the expected loan activity.@@@@1@33@@oe@2-2-2013
21017015@unknown@formal@none@1@S@In direct cash assistance, $1 billion is provided in federal highway construction funds, and $1.35 billion is divided between general emergency aid and a reserve to be available to the president to meet unanticipated costs from the two disasters.@@@@1@39@@oe@2-2-2013
21017016@unknown@formal@none@1@S@In the Senate, Majority Whip Alan Cranston used his position to win not only the expanded credit but also more generous treatment than the House had permitted in the distribution of highway funds in the next six months.@@@@1@38@@oe@2-2-2013
21017017@unknown@formal@none@1@S@The emergency assistance wouldn't be counted against a state's normal allocation of annual highway funds, and the bill circumvents existing restrictions that otherwise would prevent the use of federal aid to repair a toll road, such as the San Francisco-Oakland Bay Bridge damaged in last week's earthquake.@@@@1@47@@oe@2-2-2013
21017018@unknown@formal@none@1@S@The underlying stopgap bill is the second required by Congress this fall and, since the current fiscal year began Oct. 1, only the Energy and Interior departments are operating on permanent appropriations enacted into law.@@@@1@35@@oe@2-2-2013
21017019@unknown@formal@none@1@S@The standoff over abortion is certain to contribute to further delays and, apart from the health and education measure vetoed by Mr. Bush, bills funding the District of Columbia and the entire U.S. foreign-aid budget are in jeopardy because of related abortion or family-planning issues.@@@@1@45@@oe@2-2-2013
21017020@unknown@formal@none@1@S@The vote yesterday was the most partisan in many years, and though the Democratic leadership is ambivalent about how to address the abortion issue, the debate is increasingly measured in party terms.@@@@1@32@@oe@2-2-2013
21017021@unknown@formal@none@1@S@The 189 Democrats who supported the override yesterday compare with 175 who initially backed the rape-and-incest exemption two weeks ago and 136 last year on a similar vote.@@@@1@28@@oe@2-2-2013
21017022@unknown@formal@none@1@S@By comparison, Republicans have held closer to the anti-abortion movement.@@@@1@10@@oe@2-2-2013
21017023@unknown@formal@none@1@S@Only 42 GOP members opposed the president's veto, a marginal increase over the vote two weeks ago and just 12 more than the 30 who supported the rape-and-incest exemption last year.@@@@1@31@@oe@2-2-2013
21017024@unknown@formal@none@1@S@At a recent White House meeting, Rep. Silvio Conte (R., Mass.), the ranking minority member of the House Appropriations Committee, argued with his friend Mr. Bush against a veto, and though Mr. Conte and Minority Leader Robert Michel of Illinois stood with the president yesterday, they are plainly uncomfortable with his position.@@@@1@52@@oe@2-2-2013
21017025@unknown@formal@none@1@S@"This isn't a political issue, this is a moral issue," said Rep. Henry Hyde (R., Ill.), the most eloquent spokesman for the anti-abortion movement.@@@@1@24@@oe@2-2-2013
21017026@unknown@formal@none@1@S@But after years of using the issue for its benefit, the GOP finds its candidates on the defensive.@@@@1@18@@oe@2-2-2013
21017027@unknown@formal@none@1@S@New Jersey gubernatorial candidate Rep. James Florio pointedly returned from campaigning to vote against the president yesterday in contrast with his opponent, GOP Rep. James Courter, who has ardently supported abortion restrictions in the past but was absent.@@@@1@38@@oe@2-2-2013
21017028@unknown@formal@none@1@S@In an extraordinary mix of cultures and church-state powers, Rep. Robert Dornan (R., Calif.) lectured his fellow Roman Catholics -- including Mr. Florio -- for having the "chutzpah" to disagree with the hierarchy of their church on abortion.@@@@1@38@@oe@2-2-2013
21017029@unknown@formal@none@1@S@Rep. Les AuCoin was as blunt on behalf of the abortion-rights movement.@@@@1@12@@oe@2-2-2013
21017030@unknown@formal@none@1@S@"This may not make George Bush a one-term president," said the Oregon liberal, addressing the Republican side of the House.@@@@1@20@@oe@2-2-2013
21017031@unknown@formal@none@1@S@"But if you support him over rape victims, this may be your last term."@@@@1@14@@oe@2-2-2013
21017032@unknown@formal@none@1@S@Separately, the House last night approved a nearly $67 billion compromise spending bill providing the first construction funds for the administration's ambitious space station in fiscal 1990 and incorporating far-reaching provisions affecting the federal mortgage market.@@@@1@36@@oe@2-2-2013
21017033@unknown@formal@none@1@S@The current ceiling on home loans insured by the Federal Housing Administration would be increased to $124,875, and the bill gives the Department of Housing and Urban Development new authority to facilitate the refinancing of subsidized loans for low-income homeowners.@@@@1@40@@oe@2-2-2013
21017034@unknown@formal@none@1@S@By a 325-92 margin, the Appropriations Committee leadership beat back an early challenge by House Banking Chairman Henry Gonzalez (D., Texas) to the FHA provision.@@@@1@25@@oe@2-2-2013
21017035@unknown@formal@none@1@S@And on a closer 250-170 roll call, lawmakers upheld controversial agreements made by a House-Senate conference earmarking community development funds for more than 40 projects backed by often influential members.@@@@1@30@@oe@2-2-2013
21018001@unknown@formal@none@1@S@Rupert Murdoch acquired a 25% stake in Grupo Zeta S.A., the leading Spanish magazine and newspaper publisher said.@@@@1@18@@oe@2-2-2013
21018002@unknown@formal@none@1@S@The transaction called for Mr. Murdoch's News International PLC, a unit of Australia-based News Corp., to subscribe to a rights issue by Zeta valued at 6.65 billion pesetas ($57 million).@@@@1@30@@oe@2-2-2013
21018003@unknown@formal@none@1@S@Also participating in the issue was Servifilm Spain Cinematografica S.A.@@@@1@10@@oe@2-2-2013
21018004@unknown@formal@none@1@S@The film producer, owned by Madrid-based financier Jacques Hachuel, received a 5% stake in the Barcelona-based publishing group.@@@@1@18@@oe@2-2-2013
21018005@unknown@formal@none@1@S@The cash injection boosted Zeta's capital more than four-fold, to 8.47 billion pesetas from 1.82 billion pesetas, greatly enhancing the group's ability to make investments, Zeta officials said.@@@@1@28@@oe@2-2-2013
21018006@unknown@formal@none@1@S@Following its failure last month to win a license for one of Spain's first three private television stations, Zeta is seeking investment opportunities in communications and publishing.@@@@1@27@@oe@2-2-2013
21018007@unknown@formal@none@1@S@With annual sales of about 30 billion pesetas, Zeta publishes over a dozen magazines, including the popular Tiempo, Interviu and Panorama, and three regional dailies.@@@@1@25@@oe@2-2-2013
21018008@unknown@formal@none@1@S@Chairman Antonio Asensio will retain a 70% share in Zeta.@@@@1@10@@oe@2-2-2013
21019001@unknown@formal@none@1@S@The New York Stock Exchange is expected to launch its own program trading vehicle today, just as controversy over this trading strategy heats up.@@@@1@24@@oe@2-2-2013
21019002@unknown@formal@none@1@S@The Big Board this morning plans to begin trading its Exchange Stock Portfolio "basket" product, the first program-trading vehicle carrying the exchange's seal of approval.@@@@1@25@@oe@2-2-2013
21019003@unknown@formal@none@1@S@ESPs will allow institutional investors to buy or sell all 500 stocks in Standard & Poor's index in a single trade of a minimum of $5 million.@@@@1@27@@oe@2-2-2013
21019004@unknown@formal@none@1@S@"Customized" baskets of fewer stocks will also be available.@@@@1@9@@oe@2-2-2013
21019005@unknown@formal@none@1@S@The Securities and Exchange Commission gave provisional six-month approval to the Big Board basket at a meeting late yesterday.@@@@1@19@@oe@2-2-2013
21019006@unknown@formal@none@1@S@The SEC at the same time approved a similar but smaller basket product on the Chicago Board Options Exchange, where the minimum will be $1.7 million.@@@@1@26@@oe@2-2-2013
21019007@unknown@formal@none@1@S@Also approved was a plan to trade stock portfolios by computer after regular hours on the Midwest Stock Exchange.@@@@1@19@@oe@2-2-2013
21019008@unknown@formal@none@1@S@The basket products are "an evolutionary step" in solving problems in trading big blocks of stock that came to light in the 1987 market crash, said SEC Commissioner Joseph Grundfest.@@@@1@30@@oe@2-2-2013
21019009@unknown@formal@none@1@S@New SEC Chairman Richard Breeden, overseeing his first public meeting, said there have been concerns that the Big Board's basket could attract investors with a "short-term perspective" who would rapidly turn over the product, thus increasing volatility.@@@@1@37@@oe@2-2-2013
21019010@unknown@formal@none@1@S@But Richard Ketchum, the SEC's market regulation chief, said he didn't believe "this will spawn dramatic new program-trading strategies that will be destabilizing."@@@@1@23@@oe@2-2-2013
21019011@unknown@formal@none@1@S@The baskets on the Big Board and CBOE -- which involve the actual S&P stocks, unlike the stock-index contracts currently traded on the Chicago futures markets, and index options on the CBOE -- will begin trading as critics step up their attacks on program trading and its contributions to the stock market's wild price swings.@@@@1@55@@oe@2-2-2013
21019012@unknown@formal@none@1@S@The Big Board argues that its new product will help rather than hurt the situation by possibly drawing business from more-volatile forms of program trading.@@@@1@25@@oe@2-2-2013
21019013@unknown@formal@none@1@S@ESPs are also an attempt by the Big Board to head off the exodus of program trading business to overseas markets such as London.@@@@1@24@@oe@2-2-2013
21019014@unknown@formal@none@1@S@Big Board officials also hope Japanese investors will become interested in the exchange's product.@@@@1@14@@oe@2-2-2013
21019015@unknown@formal@none@1@S@Already, many of the Big Board's own floor traders are warning that the ESP baskets are risky and not in the best interests of the investing public.@@@@1@27@@oe@2-2-2013
21019016@unknown@formal@none@1@S@The 400-member Alliance of Floor Brokers said the new product, with the $5 million minimum, will benefit only big institutional investors and could lead to "wild spasms of volatility."@@@@1@29@@oe@2-2-2013
21019017@unknown@formal@none@1@S@Stockbrokers who cater to individual investors said the Big Board's new product confirms the exchange doesn't want to curtail program trading, which last month accounted for a record 13.8% of the exchange's average daily volume.@@@@1@35@@oe@2-2-2013
21019018@unknown@formal@none@1@S@"The New York Stock Exchange is losing its cool here," said James Andrews, head of institutional trading at Janney Montgomery Scott Inc. in Philadelphia.@@@@1@24@@oe@2-2-2013
21019019@unknown@formal@none@1@S@The new stock baskets "are going to make it easier for program trading to be done.@@@@1@16@@oe@2-2-2013
21019020@unknown@formal@none@1@S@And it's going to be done more frequently as the result of having more access to it at different places."@@@@1@20@@oe@2-2-2013
21019021@unknown@formal@none@1@S@Both the Big Board's Exchange Stock Portfolio and the Chicago exchange's Market Basket are designed for institutional investors.@@@@1@18@@oe@2-2-2013
21019022@unknown@formal@none@1@S@The Big Board lists its targets as pension plans, mutual fund managers and index-arbitrage traders.@@@@1@15@@oe@2-2-2013
21019023@unknown@formal@none@1@S@In index arbitrage, program traders buy and sell stocks and stock-index futures to profit from small price discrepancies between the markets.@@@@1@21@@oe@2-2-2013
21019024@unknown@formal@none@1@S@At the same time, only four securities firms have signed up with the Big Board to buy and sell ESPs as market makers, an unenthusiastic response.@@@@1@26@@oe@2-2-2013
21019025@unknown@formal@none@1@S@The market makers so far are CS First Boston Group's First Boston Corp. unit, Morgan Stanley & Co., PaineWebber Group Inc. and Salomon Inc.'s Salomon Brothers Inc. unit.@@@@1@28@@oe@2-2-2013
21019026@unknown@formal@none@1@S@Kidder, Peabody & Co., a General Electric Co. unit that has become the biggest program trader along with Morgan Stanley, isn't a market maker, although the Big Board hopes that will change.@@@@1@32@@oe@2-2-2013
21019027@unknown@formal@none@1@S@Similarly, the Big Board hopes to entice Merrill Lynch & Co.@@@@1@11@@oe@2-2-2013
21019028@unknown@formal@none@1@S@Neither has plans to be a market maker for now.@@@@1@10@@oe@2-2-2013
21019029@unknown@formal@none@1@S@Traders said major securities firms are reluctant to become market makers because they fear the baskets may attract only limited trading.@@@@1@21@@oe@2-2-2013
21019030@unknown@formal@none@1@S@Big Board officials say only 25 contracts a day may trade at first, equivalent to a day's action at a small, regional exchange.@@@@1@23@@oe@2-2-2013
21019031@unknown@formal@none@1@S@Even though the Big Board says its product represents a post-crash "reform," some traders suggest that if the new basket had been trading during this month's Friday the 13th market plunge, the Dow Jones Industrial Average might have dropped more than the 190 points it did.@@@@1@46@@oe@2-2-2013
21019032@unknown@formal@none@1@S@With the futures locked into a trading halt Oct. 13 and trading in some individual stock difficult, program traders would have undoubtedly fled to the basket system, the traders say.@@@@1@30@@oe@2-2-2013
21019033@unknown@formal@none@1@S@"If we had the baskets, we would be leaving in caskets," one trader said.@@@@1@14@@oe@2-2-2013
21019034@unknown@formal@none@1@S@The SEC's Mr. Breeden said the after-hours trading on the Midwest exchange would help the U.S. win back business that has moved overseas to conduct after-hours trades.@@@@1@27@@oe@2-2-2013
21020001@unknown@formal@none@1@S@Comprehensive Care Corp., which has agreed to be acquired by closely held First Hospital Corp., reported a $4.7 million loss for its Aug. 31 first quarter and said it is negotiating an extension of senior bank debt past its Oct. 18 due date.@@@@1@43@@oe@2-2-2013
21020002@unknown@formal@none@1@S@In composite trading yesterday on the New York Stock Exchange, Comprehensive Care shares plunged $3.625 to close at $4.75 on volume of 1,177,000 shares.@@@@1@24@@oe@2-2-2013
21020003@unknown@formal@none@1@S@The loss in Comprehensive Care's latest quarter is equal to 46 cents a share.@@@@1@14@@oe@2-2-2013
21020004@unknown@formal@none@1@S@In the year-earlier quarter, Comprehensive Care earned $1.6 million, or 18 cents a share.@@@@1@14@@oe@2-2-2013
21020005@unknown@formal@none@1@S@Revenue in the latest quarter fell 17% to $44 million from $53.2 million, the company said, reflecting poor utilization of the company's facilities and its behavioral medicine contracts.@@@@1@28@@oe@2-2-2013
21020006@unknown@formal@none@1@S@Comprehensive Care shareholders have approved acquisition of the developer and operator of Care-Unit chemical dependency and psychiatric programs for about $58 million in cash, notes and stock of First Hospital, Norfolk, Va.@@@@1@32@@oe@2-2-2013
21020007@unknown@formal@none@1@S@The price was reduced last August from an indicated value of $76 million.@@@@1@13@@oe@2-2-2013
21020008@unknown@formal@none@1@S@Comprehensive Care said First Hospital had advised it that both bank debt and senior notes would be repaid after the acquisition, although it isn't assured the acquisition will be completed.@@@@1@30@@oe@2-2-2013
21020009@unknown@formal@none@1@S@If it isn't completed, Comprehensive Care said it would be "required to promptly restructure its debt."@@@@1@16@@oe@2-2-2013
21020010@unknown@formal@none@1@S@First Hospital advised Comprehensive Care that an agent for the financial institutions providing financing of its acquisition is scheduled to make a final credit determination tomorrow, and that a favorable determination could result in a reorganization at Comprehensive Care "by the end of October."@@@@1@44@@oe@2-2-2013
21020011@unknown@formal@none@1@S@Failure to win such a determination, however, would lead Comprehensive Care directors to "consider various alternatives," Comprehensive Care said, without elaborating.@@@@1@21@@oe@2-2-2013
21020012@unknown@formal@none@1@S@Separately, First Hospital reported a 1.6% rise in net income to $6.1 million for its year ended June 30 on a 27% increase in revenue to $110.6 million.@@@@1@28@@oe@2-2-2013
21020013@unknown@formal@none@1@S@It said, however, that net income for the two-month period ended Aug. 31 plunged to $150,000 from $851,000 in the prior year on a 33% rise in revenue to $21.4 million.@@@@1@31@@oe@2-2-2013
21021001@unknown@formal@none@1@S@A group including New York investors Douglas A. Kass and Anthony Pedone holds the equivalent of a 12.6% stake in H.H. Robertson Co.'s common shares outstanding, according to a filing with the Securities and Exchange Commission.@@@@1@36@@oe@2-2-2013
21021002@unknown@formal@none@1@S@Officials of Pittsburgh-based H.H. Robertson, which makes steel roofs, store fronts and building parts, declined comment.@@@@1@16@@oe@2-2-2013
21021003@unknown@formal@none@1@S@As reported last month, Mr. Kass said he was interested in making an offer to buy H.H. Robertson for $13 a share.@@@@1@22@@oe@2-2-2013
21021004@unknown@formal@none@1@S@In the SEC filing, the Kass-Pedone group said it intends to acquire additional H.H. Robertson shares "with a view towards a possible change in control of the company."@@@@1@28@@oe@2-2-2013
21021005@unknown@formal@none@1@S@It has not, however, made a formal proposal.@@@@1@8@@oe@2-2-2013
21021006@unknown@formal@none@1@S@The group also is engaged in talks with third parties regarding obtaining financing to buy more shares, but no agreements have yet been reached, the filing said.@@@@1@27@@oe@2-2-2013
21021007@unknown@formal@none@1@S@The group controls 795,900 H.H. Robertson common shares, assuming exercise of an option it acquired from Executive Life Insurance Co. to buy 497,400 shares.@@@@1@24@@oe@2-2-2013
21021008@unknown@formal@none@1@S@Its stake includes 106,100 shares bought in the open market from Aug. 30 to Oct. 18 for $10.375 to $12.125 a share.@@@@1@22@@oe@2-2-2013
21021009@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, H.H. Robertson closed at $11.625, up 62.5 cents.@@@@1@16@@oe@2-2-2013
21022001@unknown@formal@none@1@S@After coming close to a partial settlement a year ago, shareholders who filed civil suits against Ivan F. Boesky and the partnerships he once controlled again are approaching an accord, people familiar with the case said.@@@@1@36@@oe@2-2-2013
21022002@unknown@formal@none@1@S@Meanwhile, within the next few weeks, the limited partners in Ivan F. Boesky & Co. L.P. are expected to reach a partial settlement with Drexel Burnham Lambert Inc. regarding the distribution of the $330 million in partnership assets, said one of the individuals.@@@@1@43@@oe@2-2-2013
21022003@unknown@formal@none@1@S@Under the terms of the settlement, the limited partners would drop their civil suits against Drexel, now pending in federal court in New York, another individual said.@@@@1@27@@oe@2-2-2013
21022004@unknown@formal@none@1@S@Attorneys involved in the talks said that the parties were closer to accord than they were a year ago, when reports of an imminent agreement circulated.@@@@1@26@@oe@2-2-2013
21022005@unknown@formal@none@1@S@One individual said the shareholders' accord was "well worked out."@@@@1@10@@oe@2-2-2013
21022006@unknown@formal@none@1@S@However, less optimistic attorneys warned that because of the tangle of numerous defendants and plaintiffs with overlapping claims, there is always the possibility that the talks will again fall apart.@@@@1@30@@oe@2-2-2013
21022007@unknown@formal@none@1@S@A shareholders' accord would provide the first restitution to thousands of individuals and institutions claiming losses as a result of insider trading by Boesky & Co., once the largest arbitrage fund in the U.S.@@@@1@34@@oe@2-2-2013
21022008@unknown@formal@none@1@S@The plaintiffs are investors who bought and sold securities in which Mr. Boesky and his partnerships were dealing.@@@@1@18@@oe@2-2-2013
21022009@unknown@formal@none@1@S@Some claim they suffered losses because they sold while he was buying and others because they bought while he was selling.@@@@1@21@@oe@2-2-2013
21022010@unknown@formal@none@1@S@Stocks involved in the shareholder suits include Union Carbide, RJR Nabisco, American Natural Resources, Boise Cascade Corp., General Foods Corp., Houston Natural Gas and FMC Corp.@@@@1@26@@oe@2-2-2013
21022011@unknown@formal@none@1@S@There are at least 27 class-action shareholder suits that have been consolidated in federal court in New York under U.S. District Judge Milton Pollack.@@@@1@24@@oe@2-2-2013
21022012@unknown@formal@none@1@S@Among the defendants are Mr. Boesky; the now-defunct Ivan F. Boesky & Co.; Mr. Boesky's main underwriter, Drexel Burnham; and Cambrian & General Securities PLC, a British investment fund once controlled by Mr. Boesky.@@@@1@34@@oe@2-2-2013
21022013@unknown@formal@none@1@S@Individuals familiar with the negotiations said the partial settlement being negotiated would remove the Boesky partnership, the British fund and Mr. Boesky as defendants, while Drexel and other defendants would remain.@@@@1@31@@oe@2-2-2013
21022014@unknown@formal@none@1@S@Charles Davidow, of the Washington, D.C.-based law firm Wilmer, Cutler & Pickering, which represents Mr. Boesky in this matter, said only that "discussions are under way.@@@@1@26@@oe@2-2-2013
21022015@unknown@formal@none@1@S@There are no agreements yet."@@@@1@5@@oe@2-2-2013
21022016@unknown@formal@none@1@S@It has been three years since Mr. Boesky, now in prison, agreed to pay a $100 million fine to settle the government's charges that he had traded illegally using insider information.@@@@1@31@@oe@2-2-2013
21022017@unknown@formal@none@1@S@Out of this, the government set up a $50 million fund for plaintiffs who can prove their financial losses.@@@@1@19@@oe@2-2-2013
21022018@unknown@formal@none@1@S@According to William Orbe, an attorney at Grais & Richards, the escrow agents for the fund, as of Sept. 30 the fund amounted to $60.5 million.@@@@1@26@@oe@2-2-2013
21022019@unknown@formal@none@1@S@Separately, attorneys for the 42 or so limited partners have had serious discussions that could lead to the distribution of the partnership's assets.@@@@1@23@@oe@2-2-2013
21022020@unknown@formal@none@1@S@The limited partners include insurance companies, financial institutions and individual investors.@@@@1@11@@oe@2-2-2013
21022021@unknown@formal@none@1@S@An agreement with Drexel regarding the limited partners' investments is an essential step toward getting their money back.@@@@1@18@@oe@2-2-2013
21022022@unknown@formal@none@1@S@This is because a Delaware court earlier this year said that Drexel is entitled to get its money back before or at the same time as the limited partners.@@@@1@29@@oe@2-2-2013
21022023@unknown@formal@none@1@S@Drexel is owed $20 million by the partnership.@@@@1@8@@oe@2-2-2013
21022024@unknown@formal@none@1@S@An individual familiar with the negotiations said that whatever investments the limited partners do not recoup from the $330 million in partnership assets, they will receive from the $350 million restitution fund available as a result of Drexel's settlement with the government in December 1988.@@@@1@45@@oe@2-2-2013
21022025@unknown@formal@none@1@S@Drexel agreed to plead guilty to six felony counts and pay $650 million, of which $350 million was set aside for shareholders and other plaintiffs, including the limited partners, who claim they were injured by Drexel.@@@@1@36@@oe@2-2-2013
21022026@unknown@formal@none@1@S@JAILED AFRICAN-AMERICAN activist wins a battle against the@@@@1@8@@oe@2-2-2013
21022027@unknown@formal@none@1@S@U.S. District Judge Robert P. Patterson Jr. ordered the FBI to immediately begin processing Herman Benjamin Ferguson's request for documents stemming from the agency's investigation of him during the 1960s.@@@@1@30@@oe@2-2-2013
21022028@unknown@formal@none@1@S@The FBI had said it would not be able to begin processing the request until June@@@@1@16@@oe@2-2-2013
21022029@unknown@formal@none@1@S@Mr. Ferguson, who is 68 years old, fled the U.S. in 1970 after exhausting his appeals of a 1968 conviction on conspiracy to murder.@@@@1@24@@oe@2-2-2013
21022030@unknown@formal@none@1@S@He turned himself in to authorities in New York earlier this year.@@@@1@12@@oe@2-2-2013
21022031@unknown@formal@none@1@S@He maintains that the information from the FBI will help him get his 1968 conviction vacated and his bail-jumping indictment dismissed.@@@@1@21@@oe@2-2-2013
21022032@unknown@formal@none@1@S@His attorneys claim he was framed by the FBI and New York police as part of a campaign to destroy the black liberation movement of the 1960s.@@@@1@27@@oe@2-2-2013
21022033@unknown@formal@none@1@S@Because the federal Freedom of Information Act wasn't law at that time, the FBI wasn't required to turn over information on its investigations when Mr. Ferguson appealed his conviction in the 1960s.@@@@1@32@@oe@2-2-2013
21022034@unknown@formal@none@1@S@But in federal court in Manhattan, Judge Patterson said the FBI records could show that Mr. Ferguson's arrest was the result of questionable legal practices.@@@@1@25@@oe@2-2-2013
21022035@unknown@formal@none@1@S@The judge said that if the FBI's proposed schedule was followed in releasing the documents, "a delay of over one year will have occurred and plaintiff will have served approximately two-thirds of his 3 1/2-year minimum sentence by the time he receives the files."@@@@1@44@@oe@2-2-2013
21022036@unknown@formal@none@1@S@Gabriel W. Gorenstein, the assistant U.S. attorney handling the case for the FBI, said no decision has been made about appealing the judge's ruling.@@@@1@24@@oe@2-2-2013
21022037@unknown@formal@none@1@S@FEDERAL COURTS URGED to cut costs and reduce delays of civil suits.@@@@1@12@@oe@2-2-2013
21022038@unknown@formal@none@1@S@The study, conducted by a task force of the Brookings Institution, suggests that Congress should require the courts to develop the plans.@@@@1@22@@oe@2-2-2013
21022039@unknown@formal@none@1@S@The study was initiated by Senate Judiciary Committee chairman Joseph Biden (D., Del.).@@@@1@13@@oe@2-2-2013
21022040@unknown@formal@none@1@S@The Washington, D.C., think tank recommends that the courts adopt different "tracks" for different types of civil cases in order to separate the handling of highly complex suits from simpler ones.@@@@1@31@@oe@2-2-2013
21022041@unknown@formal@none@1@S@Complex cases, such as antitrust suits and many business disputes, would receive intense supervision by federal judges to keep pretrial proceedings moving.@@@@1@22@@oe@2-2-2013
21022042@unknown@formal@none@1@S@Standard cases would require less judicial attention, and fast-track cases could be resolved quickly.@@@@1@14@@oe@2-2-2013
21022043@unknown@formal@none@1@S@The study also said each federal court should set strict time limits for the pretrial exchange of documents and evidence, ranging from as much as 100 days for cases in the fast track to as much as 18 months for complex disputes.@@@@1@42@@oe@2-2-2013
21022044@unknown@formal@none@1@S@And the study said federal courts should set firm trial dates early in the process.@@@@1@15@@oe@2-2-2013
21022045@unknown@formal@none@1@S@To take advantage of local expertise and custom, the study said, Congress should require each of the 94 federal district courts to adopt its own plan to speed the handling of civil suits and to reduce the high costs in civil cases.@@@@1@42@@oe@2-2-2013
21022046@unknown@formal@none@1@S@Although some of the study's recommendations resemble those of similar projects, the makeup of the task force was unusually diverse, adding significance to the effort.@@@@1@25@@oe@2-2-2013
21022047@unknown@formal@none@1@S@It included lawyers from civil rights and consumer groups, plaintiffs' lawyers and defense attorneys, corporate counsel and law professors.@@@@1@19@@oe@2-2-2013
21023001@unknown@formal@none@1@S@Businessland Inc. said it purchased a major regional computer retailer, Data Systems Computer Centre Inc., Springfield, New Jersey.@@@@1@18@@oe@2-2-2013
21023002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21023003@unknown@formal@none@1@S@The purchase strengthens San Jose, Calif.-based Businessland's links to the large corporations who are among the biggest buyers of computers.@@@@1@20@@oe@2-2-2013
21023004@unknown@formal@none@1@S@Data Systems has five retail stores in the northeast, but specializes in selling personal computers made by International Business Machines Corp. and Apple Computer Inc. to banks, brokerage firms and other big businesses based in the New York metropolitan area.@@@@1@40@@oe@2-2-2013
21023005@unknown@formal@none@1@S@John Fitzsimmons, chief executive officer of Data Systems, said the company was profitable and expected sales of nearly $100 million this year.@@@@1@22@@oe@2-2-2013
21023006@unknown@formal@none@1@S@He said Businessland, which operates stores in 50 U.S. metropolitan areas, planned to absorb his firm's operations.@@@@1@17@@oe@2-2-2013
21024001@unknown@formal@none@1@S@Eastman Kodak Co. of Rochester, N.Y., said its Lehn & Fink Products subsidiary was restructured to form two operating groups, one for household products such as cleaners and disinfectants and the other for do-it-yourself products such as wood finishes and stains.@@@@1@41@@oe@2-2-2013
21024002@unknown@formal@none@1@S@The Montvale, N.J., unit said the new operating structure "creates a more focused and responsive organization geared to effectively managing the size and scope of the unit's current business."@@@@1@29@@oe@2-2-2013
21024003@unknown@formal@none@1@S@The consumer brands unit was absorbed by the photographic, pharmaceutical and chemical concern last year when it acquired Sterling Drug Inc.@@@@1@21@@oe@2-2-2013
21024004@unknown@formal@none@1@S@In a related matter, Peter Black, president of consumer brand Minwax, was named group vice president for the household products operating group.@@@@1@22@@oe@2-2-2013
21024005@unknown@formal@none@1@S@Kenneth M. Evans, president of Thompson & Formby brand, was named group vice president of the do-it-yourself operating group.@@@@1@19@@oe@2-2-2013
21025001@unknown@formal@none@1@S@Sotheby's Holdings Inc., the parent of the auction house Sotheby's, said its net loss for the seasonally slow third quarter narrowed from a year earlier on a leap in operating revenue.@@@@1@31@@oe@2-2-2013
21025002@unknown@formal@none@1@S@The New York-based company reported a third-quarter net loss of $5.1 million, or 10 cents a share, compared with a year-earlier net loss of $6.2 million, or 12 cents a share.@@@@1@31@@oe@2-2-2013
21025003@unknown@formal@none@1@S@Operating revenue surged 54% in the latest period to $42.9 million from $27.7 million.@@@@1@14@@oe@2-2-2013
21025004@unknown@formal@none@1@S@The company said 80% of its auction business is usually conducted in the second and fourth quarters, with the current quarter having begun "extremely well.@@@@1@25@@oe@2-2-2013
21026001@unknown@formal@none@1@S@West Texas Intermediate, the U.S. benchmark crude, seemed tethered again yesterday in trading on the New York Mercantile Exchange.@@@@1@19@@oe@2-2-2013
21026002@unknown@formal@none@1@S@Widely expected to open 10 to 15 cents a barrel higher on the strength of statistics from the American Petroleum Institute, the December contract managed to start the session only eight cents higher.@@@@1@33@@oe@2-2-2013
21026003@unknown@formal@none@1@S@In the last hour of the trading day, December contract took a tumble to end the session 10 cents lower at $19.62 a barrel.@@@@1@24@@oe@2-2-2013
21026004@unknown@formal@none@1@S@And now that the price has fallen below $19.65, which many had said showed considerable resistance, some traders and analysts figure there's little to stop the price from going lower on technical decisions.@@@@1@33@@oe@2-2-2013
21026005@unknown@formal@none@1@S@With no petroleum-related news or changes in the fundamentals to dictate price moves, "technicians are wanting to sell this stuff," said Eric Bolling of Edge Trading Corp.@@@@1@27@@oe@2-2-2013
21026006@unknown@formal@none@1@S@"And short-term, the technicians may have their way."@@@@1@8@@oe@2-2-2013
21026007@unknown@formal@none@1@S@The market quickly discounted the weekly inventory report showing a 6.3 million barrel decrease in U.S. crude oil stocks as the legacy of Hurricane Jerry.@@@@1@25@@oe@2-2-2013
21026008@unknown@formal@none@1@S@That storm hit the Gulf Coast Oct. 13, closing the Louisiana Offshore Oil Port for a time and preventing tankers from unloading.@@@@1@22@@oe@2-2-2013
21026009@unknown@formal@none@1@S@Next week's report could very well show an increase in crude inventories.@@@@1@12@@oe@2-2-2013
21026010@unknown@formal@none@1@S@Dismissing the trade group's numbers left traders plenty of time to worry anew about the latest reports on OPEC production.@@@@1@20@@oe@2-2-2013
21026011@unknown@formal@none@1@S@An AP-Dow Jones survey of integrated oil companies, independent refiners, and oil industry consultants indicates that the Organization of Petroleum Exporting Countries increased its production to 22.2 million barrels a day in September.@@@@1@33@@oe@2-2-2013
21026012@unknown@formal@none@1@S@Estimates suggest October's figure may be even higher.@@@@1@8@@oe@2-2-2013
21026013@unknown@formal@none@1@S@That level of production isn't of much concern as long as demand continues strong, analysts said.@@@@1@16@@oe@2-2-2013
21026014@unknown@formal@none@1@S@But the first quarter of the year is generally the weakest and OPEC production doesn't seem to be slackening in anticipation of that.@@@@1@23@@oe@2-2-2013
21026015@unknown@formal@none@1@S@Also, maintaining current demand assumes no significant slowdown in world economies.@@@@1@11@@oe@2-2-2013
21026016@unknown@formal@none@1@S@To top off the bearish factors affecting yesterday's trading, late October weather, especially in the Northeast U.S., continues to be very moderate, leaving heating oil futures trading lackluster.@@@@1@28@@oe@2-2-2013
21026017@unknown@formal@none@1@S@"We aren't seeing any cold weather here," Mr. Bolling said from New York.@@@@1@13@@oe@2-2-2013
21026018@unknown@formal@none@1@S@In other commodity markets yesterday:@@@@1@5@@oe@2-2-2013
21026019@unknown@formal@none@1@S@GRAINS AND SOYBEANS:@@@@1@3@@oe@2-2-2013
21026020@unknown@formal@none@1@S@Soybean and corn futures prices moved higher on the strength of buying from commodity pool managers trying to profit from technical price trends, as well as continued export strength.@@@@1@29@@oe@2-2-2013
21026021@unknown@formal@none@1@S@A leveling off of farmer selling tied to the harvest also removed some of the downward pressure on futures contract prices.@@@@1@21@@oe@2-2-2013
21026022@unknown@formal@none@1@S@Wheat futures prices fell, however, at least partly in reaction to the rumored selling of futures contracts equal to several million bushels of wheat by commodity speculator Richard Dennis.@@@@1@29@@oe@2-2-2013
21026023@unknown@formal@none@1@S@Neither Mr. Dennis nor officials of his Chicago trading company, C&D Commodities, could be reached for comment.@@@@1@17@@oe@2-2-2013
21026024@unknown@formal@none@1@S@As for corn and soybean futures, "a lot of commission house buying this morning and computer-driven buying" supported prices in early trading, said Steven Freed, a futures analyst with Dean Witter Reynolds Inc. in Chicago.@@@@1@35@@oe@2-2-2013
21026025@unknown@formal@none@1@S@Soybean futures for November delivery gained 5.25 cents a bushel to close at $5.66 a bushel on the Chicago Board of Trade.@@@@1@22@@oe@2-2-2013
21026026@unknown@formal@none@1@S@December corn futures added 2.25 cents a bushel to close at $2.4225 a bushel on the Board of Trade.@@@@1@19@@oe@2-2-2013
21026027@unknown@formal@none@1@S@Announced and anticipated purchases from foreign countries are also supporting futures prices.@@@@1@12@@oe@2-2-2013
21026028@unknown@formal@none@1@S@"Russian ships are arriving in the gulf and there isn't enough grain in the pipeline," said Katharina Zimmer, a futures analyst with Merrill Lynch & Co. in New York.@@@@1@29@@oe@2-2-2013
21026029@unknown@formal@none@1@S@The Soviet Union has purchased roughly eight million tons of grain this month, and is expected to take delivery by year end, analysts said.@@@@1@24@@oe@2-2-2013
21026030@unknown@formal@none@1@S@COTTON:@@@@1@1@@oe@2-2-2013
21026031@unknown@formal@none@1@S@Futures prices rose modestly, but trading volume wasn't very heavy.@@@@1@10@@oe@2-2-2013
21026032@unknown@formal@none@1@S@The December contract settled at 73.97 cents a pound, up 0.59 cent, but it rose as high as 74.20 cents.@@@@1@20@@oe@2-2-2013
21026033@unknown@formal@none@1@S@Several cotton analysts said that the move appeared to be mostly technical.@@@@1@12@@oe@2-2-2013
21026034@unknown@formal@none@1@S@Traders who had sold contracts earlier, in hopes of buying them back at lower prices, yesterday were buying contracts back at higher prices to limit their losses.@@@@1@27@@oe@2-2-2013
21026035@unknown@formal@none@1@S@Floor traders also said that the market could have been helped by rumors, which have been circulating for the past two days, about China purchasing cotton.@@@@1@26@@oe@2-2-2013
21026036@unknown@formal@none@1@S@The rumor, which has been neither confirmed nor denied, has China buying 125,000 to 200,000 bales for near-term delivery.@@@@1@19@@oe@2-2-2013
21026037@unknown@formal@none@1@S@One floor trader said that if there were Chinese purchases, they should have had a bigger effect on the market.@@@@1@20@@oe@2-2-2013
21026038@unknown@formal@none@1@S@Another said that if China was a buyer, it would be the earliest that country had made purchases since the 1979-80 crop year, and thus would be a bullish sign.@@@@1@30@@oe@2-2-2013
21026039@unknown@formal@none@1@S@This trader characterized the recent price action as a contest between the fundamentalists, who see higher prices ahead, and the technicians, who are basically buying cotton toward the bottom of the current trading range, around 71 cents, and selling it when the price climbs more than 74 cents.@@@@1@48@@oe@2-2-2013
21026040@unknown@formal@none@1@S@This trader said that he thought the market would turn aggressively bullish from a technical standpoint if the December contract was able to exceed 75.75 cents.@@@@1@26@@oe@2-2-2013
21026041@unknown@formal@none@1@S@He also noted that stocks on Aug. 1, 1990, are currently projected at 3.3 million bales, the smallest end-of-season supply since 1985.@@@@1@22@@oe@2-2-2013
21026042@unknown@formal@none@1@S@COCOA:@@@@1@1@@oe@2-2-2013
21026043@unknown@formal@none@1@S@The modest sell-off, which started on Tuesday, continued.@@@@1@8@@oe@2-2-2013
21026044@unknown@formal@none@1@S@The December contract ended at $999 a metric ton, down $15.@@@@1@11@@oe@2-2-2013
21026045@unknown@formal@none@1@S@The market is drifting, at least partly, because of a lack of crop information out of Ghana and the Ivory Coast, the two largest African producers.@@@@1@26@@oe@2-2-2013
21026046@unknown@formal@none@1@S@Harry Schwartz, a soft commodity specialist for Cargill Investors Services in New York, said the only report Ghana has issued about the arrival of cocoa from the interior was for 7,839 metric tons as of Oct. 12.@@@@1@37@@oe@2-2-2013
21026047@unknown@formal@none@1@S@By this time last year, he noted, arrivals totaling 33,270 tons had been announced.@@@@1@14@@oe@2-2-2013
21026048@unknown@formal@none@1@S@A similar situation apparently exists in the Ivory Coast with no figures released yet this year, compared with 55,000 tons as of this time a year ago.@@@@1@27@@oe@2-2-2013
21026049@unknown@formal@none@1@S@He said that if little cocoa actually has arrived at the ports, shipping delays could result.@@@@1@16@@oe@2-2-2013
21026050@unknown@formal@none@1@S@This is the worry that probably brought steadiness to the market earlier in the week, he said.@@@@1@17@@oe@2-2-2013
21026051@unknown@formal@none@1@S@There was also some fear that without Ivory Coast cocoa a large French cocoa merchant, Cie. Financiere Sucre et Denrees, might not be able to deliver cocoa against the contracts it had sold earlier for December delivery in London.@@@@1@39@@oe@2-2-2013
21026052@unknown@formal@none@1@S@However, the French merchant has about 200,000 tons of old crop Ivory Coast cocoa stored in the Netherlands from an agreement it had negotiated with the Ivory Coast last spring.@@@@1@30@@oe@2-2-2013
21026053@unknown@formal@none@1@S@Cargill thinks that even though the merchant has a contract stating that it won't bring this cocoa to market until after March 1991, there is some evidence the contract has been modified.@@@@1@32@@oe@2-2-2013
21026054@unknown@formal@none@1@S@This modification, apparently, would permit the French merchant to deliver this cocoa, if necessary, against existing short positions.@@@@1@18@@oe@2-2-2013
21027001@unknown@formal@none@1@S@Richard D. Sutton, 64 years old, chairman of this bank-holding company, was named acting president and chief executive officer of the company and its First National Bank of Toms River subsidiary.@@@@1@31@@oe@2-2-2013
21027002@unknown@formal@none@1@S@Joseph W. Robertson, 61, was dismissed from those posts, the company said.@@@@1@12@@oe@2-2-2013
21027003@unknown@formal@none@1@S@He couldn't be reached and a company spokesman wouldn't comment on the dismissal.@@@@1@13@@oe@2-2-2013
21027004@unknown@formal@none@1@S@Mr. Robertson was also removed from the board of First National Bank of New Jersey-Salem County, another unit, and the Toms River bank.@@@@1@23@@oe@2-2-2013
21028001@unknown@formal@none@1@S@American Medical International Inc. said it hasn't received any other offers to acquire the owner and operator of hospitals, and took another step toward completion of its $3 billion acquisition by IMA Holdings Corp.@@@@1@34@@oe@2-2-2013
21028002@unknown@formal@none@1@S@Earlier this month IMA, an investment group that includes Chicago's Pritzker family and First Boston Corp., submitted a reduced bid for American Medical after it couldn't finance its initial offer.@@@@1@30@@oe@2-2-2013
21028003@unknown@formal@none@1@S@Under the new offer, IMA will pay $26.50 a share for 63 million shares, or about 86% of the shares outstanding.@@@@1@21@@oe@2-2-2013
21028004@unknown@formal@none@1@S@IMA also will assume $1.4 billion in debt.@@@@1@8@@oe@2-2-2013
21028005@unknown@formal@none@1@S@Yesterday, in composite trading on the New York Stock Exchange, AMI common closed at $23.625, up 12.5 cents, on volume of almost 1.8 million.@@@@1@24@@oe@2-2-2013
21028006@unknown@formal@none@1@S@Earlier, American Medical said it had been approached again by two other possible suitors, whom it wouldn't identify but who had previously submitted bids for the company.@@@@1@27@@oe@2-2-2013
21028007@unknown@formal@none@1@S@Yesterday, American Medical said that the two other parties told the company that they don't have any current intention of making a takeover bid.@@@@1@24@@oe@2-2-2013
21028008@unknown@formal@none@1@S@American Medical said its directors have approved what is, in effect, a draft of a solvency opinion on the acquisition, submitted by the Los Angeles-based investment banking and evaluation consulting firm of Houlian Lokey Howard & Zukin Inc.@@@@1@38@@oe@2-2-2013
21028009@unknown@formal@none@1@S@A final opinion must be approved prior to the acceptance of tendered shares for payment under the offer, which was due to expire at 12:01 a.m. EDT today.@@@@1@28@@oe@2-2-2013
21028010@unknown@formal@none@1@S@Separately, Moody's Investors Service Inc. downgraded the ratings of American Medical's senior and subordinated debt issues and those of its international affiliate.@@@@1@22@@oe@2-2-2013
21028011@unknown@formal@none@1@S@The downgrade anticipates completion of the IMA Holdings acquisition today, Moody's said.@@@@1@12@@oe@2-2-2013
21028012@unknown@formal@none@1@S@The ratings concern said the acquisition should result in pretax losses from operations because of increases in interest expense and charges for depreciation and amortization, but that it expects the losses to be reduced through productivity gains and above average growth of the company's hospitals.@@@@1@45@@oe@2-2-2013
21028013@unknown@formal@none@1@S@Moody's said the ratings anticipate a successful debt-reduction program and modest improvement in discretionary cash flow because of planned asset sales.@@@@1@21@@oe@2-2-2013
21028014@unknown@formal@none@1@S@Moody's changes affected the following issues:@@@@1@6@@oe@2-2-2013
21028015@unknown@formal@none@1@S@American Medical International: Senior notes, sinking-fund debentures, Euromarket notes, Eurobonds, Swiss franc bonds, unsecured loan stock to Ba3 from Baa2; convertible subordinated debentures, notes, and sinking-fund debentures to B2 from Baa3.@@@@1@31@@oe@2-2-2013
21028016@unknown@formal@none@1@S@American Medical International N.V.: Guaranteed Euroissues to Ba3 from Baa2.@@@@1@10@@oe@2-2-2013
21028017@unknown@formal@none@1@S@An American Medical spokeswoman said the Moody's downgrading was expected because of the nature of the takeover.@@@@1@17@@oe@2-2-2013
21029001@unknown@formal@none@1@S@Bay Financial Corp., Boston, which has been reporting big losses and warning of a possible bankruptcy-law filing, said it was sued by a holder.@@@@1@24@@oe@2-2-2013
21029002@unknown@formal@none@1@S@The real estate investment trust said the "purported class action suit," seeks "damages and other remedies under federal securities law and state law."@@@@1@23@@oe@2-2-2013
21029003@unknown@formal@none@1@S@Gerald E. Wilson, corporate secretary and legal counsel, said the company wouldn't disclose further details.@@@@1@15@@oe@2-2-2013
21029004@unknown@formal@none@1@S@He declined to name the shareholder, the plaintiff's lawyer or the court where the lawsuit was filed.@@@@1@17@@oe@2-2-2013
21029005@unknown@formal@none@1@S@Bay, which has substantial investments in the floundering Massachusetts market, reported a loss of $62 million, or $15.97 a share, for the fiscal year ended June 30.@@@@1@27@@oe@2-2-2013
21029006@unknown@formal@none@1@S@It has said it might seek bankruptcy-court protection from creditor lawsuits if it can't renegotiate its borrowings.@@@@1@17@@oe@2-2-2013
21029007@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Bay closed at $2.625, down 25 cents.@@@@1@14@@oe@2-2-2013
21030001@unknown@formal@none@1@S@Keith A. Tucker was named a director of this insurance and financial services concern.@@@@1@14@@oe@2-2-2013
21030002@unknown@formal@none@1@S@Mr. Tucker, 44 years old, is president of Trivest Securities Corp. and senior vice president of Trivest Inc., closely held investment companies based in Miami.@@@@1@25@@oe@2-2-2013
21030003@unknown@formal@none@1@S@His selection increases the size of the board to 12 members.@@@@1@11@@oe@2-2-2013
21030004@unknown@formal@none@1@S@Torchmark also said that Samuel E. Upchurch Jr., 37, vice president and general counsel, was selected to serve the remainder of the term vacated by John S.P. Samford, who resigned as director.@@@@1@32@@oe@2-2-2013
21031001@unknown@formal@none@1@S@Philip Morris Cos., New York, adopted a defense measure designed to make a hostile takeover prohibitively expensive.@@@@1@17@@oe@2-2-2013
21031002@unknown@formal@none@1@S@The giant foods, tobacco and brewing company said it will issue common-share purchase rights to shareholders of record Nov. 8.@@@@1@20@@oe@2-2-2013
21031003@unknown@formal@none@1@S@Under certain circumstances, the rights would entitle Philip Morris holders to buy shares of either the company or its acquirer for half price.@@@@1@23@@oe@2-2-2013
21031004@unknown@formal@none@1@S@The board isn't aware of any attempts to take over Philip Morris, the company said.@@@@1@15@@oe@2-2-2013
21031005@unknown@formal@none@1@S@As of Sept. 30, Philip Morris had 926 million shares outstanding.@@@@1@11@@oe@2-2-2013
21031006@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Philip Morris shares closed yesterday at $43.50 each, down $1.@@@@1@19@@oe@2-2-2013
21032001@unknown@formal@none@1@S@Beghin-Say S.A. said that it plans to sell its remaining paper operations by the end of January as part of a drive to refocus on the food sector and lower its debt.@@@@1@32@@oe@2-2-2013
21032002@unknown@formal@none@1@S@The French unit of Ferruzzi Agricola Finanziaria also disclosed a 40% rise in its consolidated net profit for the first half of 1989, excluding nonrecurring items and after payments to minority interests.@@@@1@32@@oe@2-2-2013
21032003@unknown@formal@none@1@S@Beghin-Say said the sale will be done in two parts and will raise a total of 2.025 billion francs ($325 million).@@@@1@21@@oe@2-2-2013
21032004@unknown@formal@none@1@S@This will include the sale of its interest in the joint venture Beghin Corbehem to Feldemuehle AG.@@@@1@17@@oe@2-2-2013
21032005@unknown@formal@none@1@S@The West German paper company entered the venture in April 1988 by acquiring a 50% stake, also from Beghin-Say.@@@@1@19@@oe@2-2-2013
21032006@unknown@formal@none@1@S@The other part of the transaction will see Beghin-Say sell its 50% stake in its Kaysersberg paper affiliate to an unspecified unit of the petrochemical group Montedison S.p.A., which is also controlled by Ferruzzi.@@@@1@34@@oe@2-2-2013
21032007@unknown@formal@none@1@S@And in a separate transaction, Beghin-Say will sell its remaining 25% interest in A.T.B., a holding company for international trading assets, to an unspecified unit of Ferruzzi for 258 million francs.@@@@1@31@@oe@2-2-2013
21033001@unknown@formal@none@1@S@Esselte AB, the Stockholm office supplies company, as expected, proposed to acquire the 22% it doesn't own of its U.S. unit, Esselte Business Systems Inc.@@@@1@25@@oe@2-2-2013
21033002@unknown@formal@none@1@S@The price in the proposal is $43.50 for each of the 4.9 million shares the parent doesn't own, or $213.2 million.@@@@1@21@@oe@2-2-2013
21033003@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Esselte closed yesterday at $43.50 a share, up $1.@@@@1@16@@oe@2-2-2013
21033004@unknown@formal@none@1@S@A committee of outside directors for the Garden City, N.Y., unit is evaluating the proposal; the parent asked it to respond by Oct. 31.@@@@1@24@@oe@2-2-2013
21033005@unknown@formal@none@1@S@The unit said it can provide no assurance a transaction will occur.@@@@1@12@@oe@2-2-2013
21033006@unknown@formal@none@1@S@Esselte AB sold the minority stake five years ago in a $40 million international share offering.@@@@1@16@@oe@2-2-2013
21033007@unknown@formal@none@1@S@The unit, which is the holding company for Esselte's non-Swedish units, accounted for 58% of sales and 71% of operating profit last year.@@@@1@23@@oe@2-2-2013
21033008@unknown@formal@none@1@S@Separately, Esselte Business Systems reported third-quarter net income fell 5.9% to $9.5 million, or 46 cents a share, from $10.1 million, or 49 cents a share, in the year-ago period.@@@@1@30@@oe@2-2-2013
21033009@unknown@formal@none@1@S@Sales rose 2.9% to $329.2 million from $320 million.@@@@1@9@@oe@2-2-2013
21034001@unknown@formal@none@1@S@House and Senate conferees agreed to continue production of Grumman Corp.'s F-14 and to provide more than $3.8 billion for the Strategic Defense Initiative during the current fiscal year.@@@@1@29@@oe@2-2-2013
21034002@unknown@formal@none@1@S@Industry officials and congressional aides said that the main points of a compromise defense authorization bill, hammered out during a flurry of private meetings over the past few days, provide a face-saving compromise for both the White House and House Democrats.@@@@1@41@@oe@2-2-2013
21034003@unknown@formal@none@1@S@Although conferees are still putting the finishing touches on the package, the final agreement could be announced as early as tomorrow.@@@@1@21@@oe@2-2-2013
21034004@unknown@formal@none@1@S@An announcement is more likely next week, though.@@@@1@8@@oe@2-2-2013
21034005@unknown@formal@none@1@S@President Bush and other supporters of SDI will be able to take credit for blocking House efforts to significantly cut the program to develop a space-based antimissile system, which already has cost some $17 billion.@@@@1@35@@oe@2-2-2013
21034006@unknown@formal@none@1@S@Senate Armed Services Committee Chairman Sam Nunn (D., Ga.) and other Senate conferees have opposed the House cuts, stalling for almost two months action on a number of big-ticket items in the Pentagon's budget.@@@@1@34@@oe@2-2-2013
21034007@unknown@formal@none@1@S@The Senate voted to authorize $4.5 billion for SDI spending in the current fiscal year, but the House, reflecting a dramatic erosion of support for the program, earmarked only $3.1 billion.@@@@1@31@@oe@2-2-2013
21034008@unknown@formal@none@1@S@Despite the widening gap between the two sides, conferees eventually followed the pattern set in previous years by opting to roughly split the difference.@@@@1@24@@oe@2-2-2013
21034009@unknown@formal@none@1@S@That would hold spending on the program at about the previous year's level.@@@@1@13@@oe@2-2-2013
21034010@unknown@formal@none@1@S@The decision to keep the embattled F-14's production line running for at least another year is an important victory for the House, and especially for Rep. Les Aspin (D., Wis.).@@@@1@30@@oe@2-2-2013
21034011@unknown@formal@none@1@S@As the head of the House conferees, Rep. Aspin has been under intense pressure from his colleagues to reject Senate provisions that would have abruptly cut further F-14 production.@@@@1@29@@oe@2-2-2013
21034012@unknown@formal@none@1@S@The package "provides a temporary, golden parachute for Grumman," according to one congressional aide familiar with the closed-door bargaining.@@@@1@19@@oe@2-2-2013
21034013@unknown@formal@none@1@S@But as part of the overall agreement, Grumman and its outspoken supporters on Capitol Hill effectively will be precluded from reopening the emotional issue in the debate over next year's budget.@@@@1@31@@oe@2-2-2013
21034014@unknown@formal@none@1@S@Defense Secretary Dick Cheney and most senators contend that the Navy's F-14 is too expensive in an era of shrinking Pentagon budgets.@@@@1@22@@oe@2-2-2013
21034015@unknown@formal@none@1@S@But the plane boasts a strong core of support in the House, where members are intent on saving Grumman jobs and are worried about potential shortages of carrier-based aircraft by the late 1990s.@@@@1@33@@oe@2-2-2013
21034016@unknown@formal@none@1@S@Conferees also agreed to Pentagon requests to earmark a total of nearly $1 billion for work on both mobile MX and Midgetman nuclear missiles, according to congressional aides.@@@@1@28@@oe@2-2-2013
21034017@unknown@formal@none@1@S@And lawmakers are putting the finishing touches on a compromise that would give the Air Force nearly all of the $2.4 billion it wants for production of Northrop Corp.'s radar-eluding B-2 bombers, which cost $530 million apiece.@@@@1@37@@oe@2-2-2013
21034018@unknown@formal@none@1@S@The final B-2 agreement is certain to require detailed testing and verification of the bomber's capabilities, but congressional aides said the accord won't include a House-passed provision that would have withheld production funds until Congress approves a cheaper, scaled-down version of the $70 billion fleet of 132 B-2s envisioned by the Pentagon.@@@@1@52@@oe@2-2-2013
21035001@unknown@formal@none@1@S@Consolidated Freightways Inc. reported a 77% drop in third-quarter net income, citing expected losses in its Emery Worldwide shipping business.@@@@1@20@@oe@2-2-2013
21035002@unknown@formal@none@1@S@The Menlo Park, Calif., company said net was $7.4 million, or 22 cents a share, down from $32.3 million, or 86 cents a share, a year ago.@@@@1@27@@oe@2-2-2013
21035003@unknown@formal@none@1@S@Revenue totaled $1.01 billion, a 43% increase from $704.4 million, reflecting the company's acquisition of Emery earlier this year.@@@@1@19@@oe@2-2-2013
21035004@unknown@formal@none@1@S@Profit also suffered because of "intense" discounting in its long-haul trucking business, the company said.@@@@1@15@@oe@2-2-2013
21035005@unknown@formal@none@1@S@Analysts had expected Consolidated to post a slim profit, and the company's stock was down only 25 cents to $30.25 in New York Stock Exchange composite trading yesterday.@@@@1@28@@oe@2-2-2013
21035006@unknown@formal@none@1@S@"They have to continue to tighten their belts," said Craig Kloner, an analyst at Goldman, Sachs & Co.@@@@1@18@@oe@2-2-2013
21036001@unknown@formal@none@1@S@A round of futures-related program selling near the close sent the stock market lower in otherwise directionless trading.@@@@1@18@@oe@2-2-2013
21036002@unknown@formal@none@1@S@Nervousness that the market hasn't seen the last of its recent volatility kept trading at a moderate pace, as did anticipation of a report on the economy's third-quarter performance.@@@@1@29@@oe@2-2-2013
21036003@unknown@formal@none@1@S@The Dow Jones Industrial Average, which plunged more than 80 points in early trading Tuesday and then recovered nearly all of its losses by the close, fell 5.94 to 2653.28 in the latest session.@@@@1@34@@oe@2-2-2013
21036004@unknown@formal@none@1@S@The average drifted in a trading range of about 30 points throughout the day.@@@@1@14@@oe@2-2-2013
21036005@unknown@formal@none@1@S@The lower boundary was established just after the opening in a brief round of selling; the upper boundary was set at midday as scattered bargain-hunting pushed prices higher.@@@@1@28@@oe@2-2-2013
21036006@unknown@formal@none@1@S@Buying interest in Du Pont, which declared a stock split and a dividend boost, and certain other blue-chip issues gave the industrial average a better performance than broader indexes.@@@@1@29@@oe@2-2-2013
21036007@unknown@formal@none@1@S@Standard & Poor's 500-Stock Index dropped 1.20 to 342.50; the decline was the equivalent of a nine-point setback in the 30-stock average.@@@@1@22@@oe@2-2-2013
21036008@unknown@formal@none@1@S@The Dow Jones Equity Market Index fell 1.16 to 320.94 and the New York Stock Exchange Composite Index slid 0.53 to 189.52.@@@@1@22@@oe@2-2-2013
21036009@unknown@formal@none@1@S@But advancing issues topped decliners by 784 to 700 on the Big Board despite the late sell programs, resulting from stock-index arbitrage.@@@@1@22@@oe@2-2-2013
21036010@unknown@formal@none@1@S@The programs occurred against the backdrop of a late pullback in UAL, which had held at slightly lower levels through most of the session amid optimism that another bidder might surface.@@@@1@31@@oe@2-2-2013
21036011@unknown@formal@none@1@S@Traders said program activity wasn't in evidence through most of the session, however, and Big Board volume dropped to 155,650,000 shares from about 238 million Tuesday as concerns about the potential for additional sharp swings in the market kept other trading in check.@@@@1@43@@oe@2-2-2013
21036012@unknown@formal@none@1@S@"People are sort of nervous to do anything in the market now.@@@@1@12@@oe@2-2-2013
21036013@unknown@formal@none@1@S@Our phones are quiet around here," said Don R. Hays, director of investment strategy at Wheat First Butcher & Singer Inc., Richmond, Va.@@@@1@23@@oe@2-2-2013
21036014@unknown@formal@none@1@S@The gross national product report, due to be released before today's opening, is expected to show that the economy continued to expand in the third quarter at a moderate pace.@@@@1@30@@oe@2-2-2013
21036015@unknown@formal@none@1@S@The consensus of economists polled by Dow Jones Capital Markets Report calls for a 2.5% annual growth rate for GNP during the quarter.@@@@1@23@@oe@2-2-2013
21036016@unknown@formal@none@1@S@Du Pont, which announced plans for a 3-for-1 stock split and raised its quarterly dividend by 14%, jumped 2 1/2 to 117 3/8.@@@@1@23@@oe@2-2-2013
21036017@unknown@formal@none@1@S@The company also posted third-quarter earnings that were in line with analysts' forecasts.@@@@1@13@@oe@2-2-2013
21036018@unknown@formal@none@1@S@Blue-chip consumer stocks also provided a lift to the industrial average.@@@@1@11@@oe@2-2-2013
21036019@unknown@formal@none@1@S@American Telephone & Telegraph rose 3/8 to 43 1/2 in Big Board composite trading of 1.5 million shares, Chevron advanced 1 3/4 to 66 5/8 on 2.3 million shares, Woolworth rose 1 to 58 5/8, Coca-Cola Co. gained 5/8 to 72 1/2 and Eastman Kodak added 3/8 to 44 1/2.@@@@1@50@@oe@2-2-2013
21036020@unknown@formal@none@1@S@But General Motors dropped 1 7/8 to 44 7/8.@@@@1@9@@oe@2-2-2013
21036021@unknown@formal@none@1@S@Its GM Hughes Electronics and financial-services units both reported that third-quarter earnings were down from a year earlier.@@@@1@18@@oe@2-2-2013
21036022@unknown@formal@none@1@S@Anheuser-Busch plunged 4 3/8 to 38 1/2 on 3.5 million shares.@@@@1@11@@oe@2-2-2013
21036023@unknown@formal@none@1@S@Its third-quarter earnings were lower than analysts had forecast, and the company said it had lowered its projections for earnings growth through the end of 1990 because of planned price cuts.@@@@1@31@@oe@2-2-2013
21036024@unknown@formal@none@1@S@Xerox fell 3 1/8 to 59 5/8.@@@@1@7@@oe@2-2-2013
21036025@unknown@formal@none@1@S@Disappointment with the company's earnings for the quarter led Prudential-Bache Securities to reduce its 1989 and 1990 earnings estimates, according to Dow Jones Professional Investor Report.@@@@1@26@@oe@2-2-2013
21036026@unknown@formal@none@1@S@Computer Associates International, the most active Big Board issue, was another victim of an earnings-related sell-off.@@@@1@16@@oe@2-2-2013
21036027@unknown@formal@none@1@S@The stock fell 3/4 to 12 7/8 as 3.6 million shares were traded in the wake of its report that fiscal second-quarter net income fell 66% from a year ago.@@@@1@30@@oe@2-2-2013
21036028@unknown@formal@none@1@S@Insurance stocks moved higher in the wake of a strong third-quarter earnings report from Chubb, coming on the heels of speculation that last week's devastating earthquake in the San Francisco area would lead to higher premium rates.@@@@1@37@@oe@2-2-2013
21036029@unknown@formal@none@1@S@Chubb, whose net income for the quarter exceeded most analysts' expectations, rallied 3 3/4 to 86 1/2.@@@@1@17@@oe@2-2-2013
21036030@unknown@formal@none@1@S@Aetna Life & Casualty gained 1 3/8 to 61 1/8, Cigna advanced 7/8 to 64 3/4, Travelers added 1/2 to 40 3/8 and American International Group rose 3 1/8 to 107 3/4.@@@@1@32@@oe@2-2-2013
21036031@unknown@formal@none@1@S@Comprehensive Care plunged 4 3/4 to 3 5/8 on 1.2 million shares.@@@@1@12@@oe@2-2-2013
21036032@unknown@formal@none@1@S@The company reported a third-quarter loss and said it is holding talks with its bank lenders for an extension on some overdue debt payments.@@@@1@24@@oe@2-2-2013
21036033@unknown@formal@none@1@S@TW Services dropped 1 1/4 to 31 1/4 following the postponement of a $1.4 billion junk-bond offering that would have permitted Coniston Partners to complete its takeover of the company.@@@@1@30@@oe@2-2-2013
21036034@unknown@formal@none@1@S@Coniston said it would pursue "various financing alternatives."@@@@1@8@@oe@2-2-2013
21036035@unknown@formal@none@1@S@UAL stock declined by 9 to 161 after nobody surfaced to claim credit for aggressive buying Tuesday by Bear Stearns that sent UAL stock up 35 points in a matter of hours.@@@@1@32@@oe@2-2-2013
21036036@unknown@formal@none@1@S@Tuesday's rumored buyer, Coniston Partners, wouldn't comment on speculation that Coniston, which battled the UAL board in 1987, might challenge the board's decision Monday to remain independent.@@@@1@27@@oe@2-2-2013
21036037@unknown@formal@none@1@S@Other airline stocks were mixed.@@@@1@5@@oe@2-2-2013
21036038@unknown@formal@none@1@S@AMR, which owns American Airlines, rose 3 3/8 to 72 1/4; USAir Group fell 1 1/2 to 38 5/8, and Delta Air Lines rose 1/2 to 66 1/2 after posting higher earnings for the September quarter.@@@@1@36@@oe@2-2-2013
21036039@unknown@formal@none@1@S@Stocks that reportedly benefited Tuesday from a Japanese buy program handled by PaineWebber gave back some of their gains.@@@@1@19@@oe@2-2-2013
21036040@unknown@formal@none@1@S@Procter & Gamble went down 3 1/2 to 130, Dow Jones fell 3 1/2 to 37 1/2 and Rockwell International dropped 2 1/8 to 25.@@@@1@25@@oe@2-2-2013
21036041@unknown@formal@none@1@S@However, Atlantic Richfield preserved its twopoint advance in the previous session and added 1/8 to 103 7/8.@@@@1@17@@oe@2-2-2013
21036042@unknown@formal@none@1@S@General Mills gained 2 1/4 to 72 7/8.@@@@1@8@@oe@2-2-2013
21036043@unknown@formal@none@1@S@Goldman Sachs placed the stock back on its list of recommended issues, raised its 1990 earnings estimate and recommended that its clients shift funds from Kellogg to General Mills.@@@@1@29@@oe@2-2-2013
21036044@unknown@formal@none@1@S@Kellogg dropped 1 3/4 to 73 1/4.@@@@1@7@@oe@2-2-2013
21036045@unknown@formal@none@1@S@Manville advanced 3/4 to 10.@@@@1@5@@oe@2-2-2013
21036046@unknown@formal@none@1@S@The company offered to purchase $500 million of convertible preferred stock from the trust that handles its payments to asbestos victims.@@@@1@21@@oe@2-2-2013
21036047@unknown@formal@none@1@S@Di Giorgio gained 1 to 30 3/4 after the company said it is starting negotiations with unidentified parties interested in acquiring its units.@@@@1@23@@oe@2-2-2013
21036048@unknown@formal@none@1@S@Investor Arthur Goldberg is pursuing a $32-a-share takeover offer.@@@@1@9@@oe@2-2-2013
21036049@unknown@formal@none@1@S@Esselte Business Systems rose 1 to 43 1/2.@@@@1@8@@oe@2-2-2013
21036050@unknown@formal@none@1@S@Esselte AB of Sweden offered $43.50 a share for the 22% of the company it doesn't already own.@@@@1@18@@oe@2-2-2013
21036051@unknown@formal@none@1@S@Public Service of New Hampshire went up 3/8 to 4.@@@@1@10@@oe@2-2-2013
21036052@unknown@formal@none@1@S@Northeast Utilities boosted its offer to acquire the company by $400 million, to $2.25 billion.@@@@1@15@@oe@2-2-2013
21036053@unknown@formal@none@1@S@Newell, which declared a 2-for-1 stock split and boosted its quarterly dividend by 14%, added 7/8 to 49 3/8.@@@@1@19@@oe@2-2-2013
21036054@unknown@formal@none@1@S@Also, the company posted improved third-quarter earnings.@@@@1@7@@oe@2-2-2013
21036055@unknown@formal@none@1@S@The American Stock Exchange Market Value Index fell 0.44 to 375.92.@@@@1@11@@oe@2-2-2013
21036056@unknown@formal@none@1@S@Volume totaled 8,930,000 shares.@@@@1@4@@oe@2-2-2013
21036057@unknown@formal@none@1@S@Mission Resource Partners lost 5 1/4 to 14 1/8.@@@@1@9@@oe@2-2-2013
21036058@unknown@formal@none@1@S@The partnership, which had solicited takeover offers, said it failed to receive any adequate bids for all of its operations but is reviewing offers for individual properties.@@@@1@27@@oe@2-2-2013
21037001@unknown@formal@none@1@S@Japan is going on a capital-spending binge that could make its trade surpluses even harder to shrink.@@@@1@17@@oe@2-2-2013
21037002@unknown@formal@none@1@S@Its capital spending is growing at double-digit rates for the second year in a row, and its superefficient producers of everything from cars to computer chips are rushing to expand capacity, modernize factories and develop new products.@@@@1@37@@oe@2-2-2013
21037003@unknown@formal@none@1@S@"The boom's so huge," says Mitsuru Saito, an economist at Sanwa Research Institute, "it makes you think of the Golden '60s," when Japan developed rapidly.@@@@1@25@@oe@2-2-2013
21037004@unknown@formal@none@1@S@The more factories and robots Japanese manufacturers add, the more they will be able to export, and the less their domestic customers will need to import.@@@@1@26@@oe@2-2-2013
21037005@unknown@formal@none@1@S@At Canon Inc., for example, sales are up nearly 20% this year; so, the maker of cameras and computer printers is doing what any Japanese company would do under the circumstances: It is increasing capital spending -- by 60%.@@@@1@39@@oe@2-2-2013
21037006@unknown@formal@none@1@S@It is building, among other things, a new laser-beam-printer factory in western Japan that can produce up to 150,000 printers next year.@@@@1@22@@oe@2-2-2013
21037007@unknown@formal@none@1@S@Some 70% of them are to be exported to the U.S.@@@@1@11@@oe@2-2-2013
21037008@unknown@formal@none@1@S@Even companies in smokestack industries wrestling with world-wide overcapacity are joining the boom.@@@@1@13@@oe@2-2-2013
21037009@unknown@formal@none@1@S@Japan's steelmakers are raising capital spending 22% this year to $4.8 billion.@@@@1@12@@oe@2-2-2013
21037010@unknown@formal@none@1@S@Hitachi Zosen Corp., a shipbuilder buried in debt just a few years ago, will build a machinery plant, its first expansion in 14 years.@@@@1@24@@oe@2-2-2013
21037011@unknown@formal@none@1@S@So big is the capital-spending boom that Japanese companies' outlays in Japan topped American companies' domestic outlays by $521.4 billion to $494.8 billion in the 12 months ended March 31 even though Japan's total output of goods and services is less than two-thirds America's.@@@@1@44@@oe@2-2-2013
21037012@unknown@formal@none@1@S@From a financial standpoint, the boom couldn't come at a better time.@@@@1@12@@oe@2-2-2013
21037013@unknown@formal@none@1@S@Many Japanese companies expect record profits this fiscal year, and Japanese interest rates, though up a bit recently, are still low.@@@@1@21@@oe@2-2-2013
21037014@unknown@formal@none@1@S@And in a business system where shareholders have few rights and expect only modest dividends, companies can plow their profits back into plant and equipment.@@@@1@25@@oe@2-2-2013
21037015@unknown@formal@none@1@S@But some economists and government officials here aren't applauding.@@@@1@9@@oe@2-2-2013
21037016@unknown@formal@none@1@S@They fear that the boom may be too big for Japan's or anyone else's good.@@@@1@15@@oe@2-2-2013
21037017@unknown@formal@none@1@S@"It's an explosive cocktail" thrown at the world, says Kenneth Courtis, senior economist at the Tokyo unit of Deutsche Bank Group.@@@@1@21@@oe@2-2-2013
21037018@unknown@formal@none@1@S@The Ministry of International Trade and Industry is so concerned that it recently took the unusual step of urging Japanese auto companies to exercise caution in capital spending.@@@@1@28@@oe@2-2-2013
21037019@unknown@formal@none@1@S@MITI officials hope to avoid yet-another source of trade friction with the U.S. even though export restraints currently limit Japanese car exports to the U.S.@@@@1@25@@oe@2-2-2013
21037020@unknown@formal@none@1@S@Not everyone is worried, however.@@@@1@5@@oe@2-2-2013
21037021@unknown@formal@none@1@S@Some economists -- and many Japanese companies -- are puzzled by the warnings.@@@@1@13@@oe@2-2-2013
21037022@unknown@formal@none@1@S@The investment boom is mainly sparked, they say, by strong domestic demand and isn't likely to increase exports sharply.@@@@1@19@@oe@2-2-2013
21037023@unknown@formal@none@1@S@Moreover, much investment isn't aimed at increasing capacity.@@@@1@8@@oe@2-2-2013
21037024@unknown@formal@none@1@S@According to a survey of some 2,400 large companies by the Japan Development Bank, expanded capacity is the goal of just 51.8% of the outlays; for manufacturers alone, the figure is 32%.@@@@1@32@@oe@2-2-2013
21037025@unknown@formal@none@1@S@The manufacturers said 14.2% of their spending is designed to improve products or add new ones, 17.5% is to cut costs, 12.5% is for research and development, and the rest is for maintenance and other purposes.@@@@1@36@@oe@2-2-2013
21037026@unknown@formal@none@1@S@But the worriers remain unconvinced.@@@@1@5@@oe@2-2-2013
21037027@unknown@formal@none@1@S@With Japan running enormous trade surpluses against much of the world, they think that Japan should meet the increased domestic demand by importing more.@@@@1@24@@oe@2-2-2013
21037028@unknown@formal@none@1@S@And eventually, they contend, domestic demand will weaken, forcing companies to emphasize exports again.@@@@1@14@@oe@2-2-2013
21037029@unknown@formal@none@1@S@"If there's a further drive to export," says Nobuyuki Arai, an economist at the Japan Development Bank, "that'll be a problem."@@@@1@21@@oe@2-2-2013
21037030@unknown@formal@none@1@S@Even in the short run, the investment boom could exacerbate a disturbing trend: Japanese exports are showing surprisingly little tendency to ease.@@@@1@22@@oe@2-2-2013
21037031@unknown@formal@none@1@S@Japanese auto makers, for example, are increasing their production capacity in the U.S.; the additional production should, in part, replace imported vehicles with locally manufactured ones.@@@@1@26@@oe@2-2-2013
21037032@unknown@formal@none@1@S@But although Japanese companies increased their U.S. auto output by 42% from January to September compared with the year-earlier period, their exports to the U.S. will drop only 9% this year, Nikko Research Center estimates.@@@@1@35@@oe@2-2-2013
21037033@unknown@formal@none@1@S@In contrast to previous economic booms, Japanese auto companies aren't just trying to boost production.@@@@1@15@@oe@2-2-2013
21037034@unknown@formal@none@1@S@Many are pouring money into developing high-quality products to target affluent consumers and, to some extent, to avoid direct combat with cheaper cars from South Korea and Taiwan.@@@@1@28@@oe@2-2-2013
21037035@unknown@formal@none@1@S@Others are replacing older facilities with flexible assembly lines on which different models can be turned out at once.@@@@1@19@@oe@2-2-2013
21037036@unknown@formal@none@1@S@So many companies are investing in high-tech machinery that Fanuc Ltd., a robot maker, also had to build a new plant.@@@@1@21@@oe@2-2-2013
21037037@unknown@formal@none@1@S@The buildup is "making Japan clearly more efficient, more technologically advanced and more competitive," declares a Western diplomat in Tokyo.@@@@1@20@@oe@2-2-2013
21037038@unknown@formal@none@1@S@But whatever its effects on exports and imports, Japan's investment boom during the past two years has been stimulated at least partly by soaring domestic demand.@@@@1@26@@oe@2-2-2013
21037039@unknown@formal@none@1@S@Japan's marathon economy, growing at 4.3% this year, is now in its 35th month of expansion, and some economists are betting that the boom will outlast the record 57-month expansion in the late 1960s.@@@@1@34@@oe@2-2-2013
21037040@unknown@formal@none@1@S@Japanese consumers are increasingly eager to spend their money, especially on high-priced goods such as 29-inch television sets and luxury cars.@@@@1@21@@oe@2-2-2013
21037041@unknown@formal@none@1@S@Nissan Motor Co.'s domestic auto sales are up 20% this year largely because its expensive Cima, Sylvia and Cefiro models are in heavy demand.@@@@1@24@@oe@2-2-2013
21037042@unknown@formal@none@1@S@"One dealer told me that if he had more cars, he'd sell them right away," says Takuro Endo, Nissan executive vice president.@@@@1@22@@oe@2-2-2013
21037043@unknown@formal@none@1@S@He adds that the company is trying to keep up with demand "by overworking" its employees.@@@@1@16@@oe@2-2-2013
21037044@unknown@formal@none@1@S@Similarly, Honda Motor Co.'s sales are so brisk that workers grumble they haven't had a Saturday off in years, despite the government's encouragement of more leisure activity.@@@@1@27@@oe@2-2-2013
21037045@unknown@formal@none@1@S@With demand growing and workers in short supply, many Japanese manufacturers are spending heavily on automation.@@@@1@16@@oe@2-2-2013
21037046@unknown@formal@none@1@S@Among them are the shipbuilders, which had halved their shipyard work forces to cut costs during a prolonged slump in demand but now are capturing an increased share of the strengthening global market.@@@@1@33@@oe@2-2-2013
21037047@unknown@formal@none@1@S@Sasebo Heavy Industries Co., a medium-sized shipbuilder, expects its sales to increase 30% this year, largely because of rising demand for oil tankers.@@@@1@23@@oe@2-2-2013
21037048@unknown@formal@none@1@S@Once one Japanese company steps up its investments, the whole industry follows.@@@@1@12@@oe@2-2-2013
21037049@unknown@formal@none@1@S@Because most businesses put market share above profitability, to let a competitor's addition to capacity go unmatched is to concede defeat.@@@@1@21@@oe@2-2-2013
21037050@unknown@formal@none@1@S@The emphasis on market share is evident at Daikin Industries Ltd., Japan's biggest maker of industrial air conditioners.@@@@1@18@@oe@2-2-2013
21037051@unknown@formal@none@1@S@Seeing new office buildings sprout up and its sales soar, Daikin is building another plant, which will lift its production capacity 50%.@@@@1@22@@oe@2-2-2013
21037052@unknown@formal@none@1@S@The expansion is aimed not just at meeting demand but also at expanding the company's market share to 30% from 27% currently.@@@@1@22@@oe@2-2-2013
21037053@unknown@formal@none@1@S@Besides, Daikin's major competitors, Hitachi Ltd. and Mitsubishi Heavy Industries Ltd., "are all adding production lines," a Daikin spokesman says.@@@@1@20@@oe@2-2-2013
21037054@unknown@formal@none@1@S@"Until now, we were trying to increase productivity with the facilities we already had.@@@@1@14@@oe@2-2-2013
21037055@unknown@formal@none@1@S@But we can't produce enough anymore."@@@@1@6@@oe@2-2-2013
21037056@unknown@formal@none@1@S@The competition is even more heated in the auto industry, where companies are racing one another in a world-wide market.@@@@1@20@@oe@2-2-2013
21037057@unknown@formal@none@1@S@Nissan aims to expand its 25% share of the market to 30% by spending $141 million on a plant in southern Japan that could make as many as 240,000 cars a year.@@@@1@32@@oe@2-2-2013
21037058@unknown@formal@none@1@S@Meanwhile, Toyota Motor Corp.'s $247 million buildup is increasing its annual capacity by 180,000 cars, and Honda is spending $317 million on expansion.@@@@1@23@@oe@2-2-2013
21037059@unknown@formal@none@1@S@Mazda Motor Corp. is still considering its options, but it boldly aims to double its annual domestic sales to 800,000 cars in the next four years.@@@@1@26@@oe@2-2-2013
21037060@unknown@formal@none@1@S@Those who aren't worried about how Japanese manufacturers' investments will affect trade note that many new products aren't replacements for imports.@@@@1@21@@oe@2-2-2013
21037061@unknown@formal@none@1@S@Although imports account for less than 1% of beer sales in Japan, Asahi Breweries Ltd., which has been gaining share with its popular dry beer, plans to fend off Japanese competitors by pouring $1.06 billion into facilities to brew 50% more beer.@@@@1@42@@oe@2-2-2013
21037062@unknown@formal@none@1@S@But new-product development will make Japanese companies stronger, and big investments in "domestic" industries such as beer will make it even tougher for foreign competitors to crack the Japanese market.@@@@1@30@@oe@2-2-2013
21037063@unknown@formal@none@1@S@Moreover, much of the investment boom is in high-tech fields in which Japanese companies have only limited foreign competition; so, more investment practically assures more exports.@@@@1@26@@oe@2-2-2013
21037064@unknown@formal@none@1@S@Toshiba Corp., for example, is spending $986 million on two new plants to build four-megabit dynamic random access memories, the next generation of computer chips.@@@@1@25@@oe@2-2-2013
21037065@unknown@formal@none@1@S@The product isn't widely used yet, but Toshiba, which has already beaten everyone else in producing the current-generation one-megabit DRAMs, believes that its early investment will heighten its chances of beating its competitors again.@@@@1@34@@oe@2-2-2013
21037066@unknown@formal@none@1@S@"It's important to gain leadership," a Toshiba spokesman says.@@@@1@9@@oe@2-2-2013
21037067@unknown@formal@none@1@S@Meanwhile, Toshiba's Japanese rivals, Hitachi, Fujitsu Ltd. and NEC Corp., aren't sitting still.@@@@1@13@@oe@2-2-2013
21037068@unknown@formal@none@1@S@After doubling production in one plant, NEC is spending $275 million to build another plant that, in two years, will be able to make a million four-megabit DRAMs a year.@@@@1@30@@oe@2-2-2013
21037069@unknown@formal@none@1@S@The new chip plants "won't be excessive investment," says Hajime Sasaki, an NEC vice president.@@@@1@15@@oe@2-2-2013
21037070@unknown@formal@none@1@S@"We have enough products to make and the markets to sell these products."@@@@1@13@@oe@2-2-2013
21037071@unknown@formal@none@1@S@Some of Japan's goods being produced as a result of the investment boom are already successful overseas.@@@@1@17@@oe@2-2-2013
21037072@unknown@formal@none@1@S@Toyota's $35,000 Lexus automobile, a luxury model that it started shipping to the U.S. only last month, is racking up orders at a time when U.S.-made luxury-car sales are slow.@@@@1@30@@oe@2-2-2013
21037073@unknown@formal@none@1@S@Toyota plans to raise Lexus exports when a new plant starts up next year.@@@@1@14@@oe@2-2-2013
21037074@unknown@formal@none@1@S@What if its sales weaken someday?@@@@1@6@@oe@2-2-2013
21037075@unknown@formal@none@1@S@Japanese companies have a caveat competitor attitude.@@@@1@7@@oe@2-2-2013
21037076@unknown@formal@none@1@S@If excess capacity develops, they say, not everyone will suffer.@@@@1@10@@oe@2-2-2013
21037077@unknown@formal@none@1@S@The losers will be those with the least attractive products, and many of them, analysts think, will be foreign companies.@@@@1@20@@oe@2-2-2013
21038001@unknown@formal@none@1@S@Benjamin Franklin Federal Savings & Loan Association said it plans to restructure in the wake of a third-quarter loss of $7.7 million, or $1.01 a share, reflecting an $11 million addition to loan-loss reserves.@@@@1@34@@oe@2-2-2013
21038002@unknown@formal@none@1@S@The Portland, Ore., thrift said the restructuring should help it meet new capital standards from the Financial Institution Reform, Recovery and Enforcement Act.@@@@1@23@@oe@2-2-2013
21038003@unknown@formal@none@1@S@A year ago, Benjamin Franklin had profit of $1.8 million, or 23 cents a share.@@@@1@15@@oe@2-2-2013
21038004@unknown@formal@none@1@S@In over-the-counter trading yesterday, Benjamin Franklin rose 25 cents to $4.25.@@@@1@11@@oe@2-2-2013
21038005@unknown@formal@none@1@S@The company said the restructuring's initial phase will feature a gradual reduction in assets and staff positions.@@@@1@17@@oe@2-2-2013
21038006@unknown@formal@none@1@S@The plan may include selling branches, consolidating or eliminating departments, and winding down or disposing of unprofitable units within 18 months.@@@@1@21@@oe@2-2-2013
21038007@unknown@formal@none@1@S@Initially, the company said it will close its commercial real-estate lending division, and stop originating new leases at its commercial lease subsidiary.@@@@1@22@@oe@2-2-2013
21038008@unknown@formal@none@1@S@Details of the restructuring won't be made final until regulators approve the regulations mandated by the new federal act, the company said.@@@@1@22@@oe@2-2-2013
21039001@unknown@formal@none@1@S@Amdahl Corp., a maker of mainframe computers, reported a sharp decline in net income for its third quarter, citing pricecutting by competitors and adverse effects from a strong U.S. dollar.@@@@1@30@@oe@2-2-2013
21039002@unknown@formal@none@1@S@Net income fell 37% to $32.9 million, or 30 cents a share, from $52.2 million, or 48 cents a share, in the year-ago period.@@@@1@24@@oe@2-2-2013
21039003@unknown@formal@none@1@S@Revenue rose 15% to $534.3 million from $464.7 million.@@@@1@9@@oe@2-2-2013
21039004@unknown@formal@none@1@S@Amdahl's results were somewhat worse than expected.@@@@1@7@@oe@2-2-2013
21039005@unknown@formal@none@1@S@Jay Stevens, an analyst with Dean Witter Reynolds, said he expected the Sunnyvale, Calif., company to earn 35 cents a share for the quarter and said the firm's weaker profit was partly the result of increased competition from International Business Machines Corp., Amdahl's principal competitor for mainframe sales.@@@@1@48@@oe@2-2-2013
21040001@unknown@formal@none@1@S@ONEIDA Ltd. declared a 10% stock dividend, payable Dec. 15 to stock of record Nov. 17.@@@@1@16@@oe@2-2-2013
21040002@unknown@formal@none@1@S@The Oneida, N.Y., maker of consumer, food-service and industrial products also declared a quarterly cash dividend of 12 cents a share, with the same payable and record dates.@@@@1@28@@oe@2-2-2013
21040003@unknown@formal@none@1@S@The cash dividend paid on the common stock also will apply to the new shares, the company said.@@@@1@18@@oe@2-2-2013
21040004@unknown@formal@none@1@S@The move rewards shareholders and should improve the stock's liquidity, Oneida said.@@@@1@12@@oe@2-2-2013
21040005@unknown@formal@none@1@S@The company has about 8.8 million shares outstanding.@@@@1@8@@oe@2-2-2013
21040006@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Oneida's shares closed at $18.375 a share, unchanged.@@@@1@16@@oe@2-2-2013
21041001@unknown@formal@none@1@S@Federal health officials are expected today to approve a program granting long-deferred access to the drug AZT for children with acquired immune deficiency syndrome.@@@@1@24@@oe@2-2-2013
21041002@unknown@formal@none@1@S@Announcement of the approval is expected to be made by Louis Sullivan, secretary of Health and Human Services.@@@@1@18@@oe@2-2-2013
21041003@unknown@formal@none@1@S@The clearance by the Food and Drug Administration comes after two years of restricted access for the youngest victims of AIDS to the only antiviral drug yet cleared to treat the fatal disease.@@@@1@33@@oe@2-2-2013
21041004@unknown@formal@none@1@S@The drug will be given treatment investigational new drug status, a label accorded to drugs believed effective but lacking formal approval.@@@@1@21@@oe@2-2-2013
21041005@unknown@formal@none@1@S@The move will make the drug available free of charge for a time to children with the disease and symptoms of advanced infection.@@@@1@23@@oe@2-2-2013
21041006@unknown@formal@none@1@S@Adults with AIDS have had access to AZT since FDA approved the drug's usage for adults in March 1987.@@@@1@19@@oe@2-2-2013
21041007@unknown@formal@none@1@S@But despite more than two years of research showing AZT can relieve dementia and other symptoms in children, the drug still lacks federal approval for use in the youngest patients.@@@@1@30@@oe@2-2-2013
21041008@unknown@formal@none@1@S@As a result, many youngsters have been unable to obtain the drug and, for the few exceptions, insurance carriers won't cover its cost of $6,400 a year.@@@@1@27@@oe@2-2-2013
21041009@unknown@formal@none@1@S@So far, AIDS has stricken 1,859 children under age 13, with many times that number believed to carry the infection without symptoms.@@@@1@22@@oe@2-2-2013
21041010@unknown@formal@none@1@S@To date, 1,013 of those children have died, according to the federal Centers for Disease Control.@@@@1@16@@oe@2-2-2013
21041011@unknown@formal@none@1@S@Mothers of young AIDS patients expressed somber satisfaction.@@@@1@8@@oe@2-2-2013
21041012@unknown@formal@none@1@S@"Thank goodness it's happening.@@@@1@4@@oe@2-2-2013
21041013@unknown@formal@none@1@S@It should have happened sooner," said Elizabeth Glaser, a Los Angeles mother and activist who contracted the AIDS virus through a blood transfusion, and transmitted it to two of her children.@@@@1@31@@oe@2-2-2013
21041014@unknown@formal@none@1@S@One of them, a daughter Ariel, died a year ago at age seven after her parents unsuccessfully pleaded for the drug.@@@@1@21@@oe@2-2-2013
21041015@unknown@formal@none@1@S@"I could get AZT," says Mrs. Glaser, who bears her infection without any symptoms.@@@@1@14@@oe@2-2-2013
21041016@unknown@formal@none@1@S@"But my daughter couldn't, until she was too ill to take it.@@@@1@12@@oe@2-2-2013
21041017@unknown@formal@none@1@S@To watch your child die is an inhuman experience."@@@@1@9@@oe@2-2-2013
21041018@unknown@formal@none@1@S@Her son, healthy and symptom-free, currently takes no medication.@@@@1@9@@oe@2-2-2013
21041019@unknown@formal@none@1@S@The delay in getting AZT to children has been blamed on a combination of factors.@@@@1@15@@oe@2-2-2013
21041020@unknown@formal@none@1@S@Traditionally, the medical establishment has waited two years to approve adult treatments for pediatric uses, because of a combination of conservative safety standards and red tape.@@@@1@26@@oe@2-2-2013
21041021@unknown@formal@none@1@S@Secondly, critics have charged AZT's maker Burroughs Wellcome Co. with corporate inertia because children account for just 1% of the patient population and hence a small part of the large and lucrative market.@@@@1@33@@oe@2-2-2013
21041022@unknown@formal@none@1@S@Wellcome has replied that it is moving ahead to compile the relevant data, and recently promised to develop a pediatric syrup form easier for youngsters to take.@@@@1@27@@oe@2-2-2013
21041023@unknown@formal@none@1@S@Still, all this comes nearly a year and a half after Philip Pizzo of the National Cancer Institute offered evidence that AZT could reverse the ravages of AIDS dementia, sometimes prompting dramatic recovery of IQ levels and reappearance of lost motor skills.@@@@1@42@@oe@2-2-2013
21041024@unknown@formal@none@1@S@Since then, roughly 50 pediatric patients have received the drug in his program.@@@@1@13@@oe@2-2-2013
21041025@unknown@formal@none@1@S@To some mothers, the expected FDA action is a poignant reminder of what might have been.@@@@1@16@@oe@2-2-2013
21041026@unknown@formal@none@1@S@"My first reaction is I don't understand why it's taken so long.@@@@1@12@@oe@2-2-2013
21041027@unknown@formal@none@1@S@Why has it taken people so long for people to understand pediatric AIDS is a major problem?" asked Helen Kushnick, whose son Samuel died six years ago at age three, victim of a tainted transfusion.@@@@1@35@@oe@2-2-2013
21041028@unknown@formal@none@1@S@Similar sentiments were voiced on Capitol Hill.@@@@1@7@@oe@2-2-2013
21041029@unknown@formal@none@1@S@"While I'm pleased the FDA is finally releasing AZT for children, it's taken much too long to get to this point," said Rep. Ted Weiss.@@@@1@25@@oe@2-2-2013
21041030@unknown@formal@none@1@S@"Why did it take Burroughs Wellcome so long to apply" for treatment investigational new drug status? the New York Democrat asked.@@@@1@21@@oe@2-2-2013
21041031@unknown@formal@none@1@S@"Let's not forget this is the same company that has been profiteering with this drug for 2 1/2 years," Mr. Weiss added.@@@@1@22@@oe@2-2-2013
21041032@unknown@formal@none@1@S@Mrs. Glaser, who is a co-founder of the Pediatric AIDS Foundation, based in Santa Monica, Calif., condemned neither bureaucratic nor corporate foot-dragging.@@@@1@22@@oe@2-2-2013
21041033@unknown@formal@none@1@S@"There's no finger to be pointed," she said.@@@@1@8@@oe@2-2-2013
21041034@unknown@formal@none@1@S@"The crucial thing is that we learn our lesson well, and to make sure other experimental drugs, like Bristol-Myers Co.'s DDI, don't follow the same frustrating course as AZT."@@@@1@29@@oe@2-2-2013
21041035@unknown@formal@none@1@S@AIDS dementia -- which gradually steals children's ability to speak, walk and think -- is often the most striking aspect of the pediatric syndrome.@@@@1@24@@oe@2-2-2013
21041036@unknown@formal@none@1@S@For some patients, AZT has restored the ability to ride a bicycle or solve puzzles, giving back a piece of their childhood if only temporarily.@@@@1@25@@oe@2-2-2013
21041037@unknown@formal@none@1@S@"It's impossible to overstate how much this means to the families of these patients," said Samuel Broder, director of the National Cancer Institute and a main developer of AZT.@@@@1@29@@oe@2-2-2013
21042001@unknown@formal@none@1@S@AVON RENT-A-CAR & TRUCK Corp. said it declared a dividend of one warrant for each three shares of common stock.@@@@1@20@@oe@2-2-2013
21042002@unknown@formal@none@1@S@Currently, Avon, based in Santa Monica, Calif., has 3.3 million common shares outstanding.@@@@1@13@@oe@2-2-2013
21042003@unknown@formal@none@1@S@About 1.1 million Class C warrants were issued, the company said.@@@@1@11@@oe@2-2-2013
21042004@unknown@formal@none@1@S@Each of the Class C warrants will enable the holders to purchase one share of common stock at $5.50.@@@@1@19@@oe@2-2-2013
21042005@unknown@formal@none@1@S@The warrants may be exercised until 90 days after their issue date.@@@@1@12@@oe@2-2-2013
21042006@unknown@formal@none@1@S@Avon also said it will issue an additional 243,677 of the Class C warrants to holders of its Class A, Class B and unclassified warrants.@@@@1@25@@oe@2-2-2013
21042007@unknown@formal@none@1@S@Issuance of those warrants will be at the rate of one-third warrant for each warrant exercised.@@@@1@16@@oe@2-2-2013
21043001@unknown@formal@none@1@S@THE BIG BOARD PLANS to launch its own vehicle for program trading today amid growing controversy over the practice.@@@@1@19@@oe@2-2-2013
21043002@unknown@formal@none@1@S@The new "baskets" of stocks will allow big investors to buy or sell all 500 S&P index stocks in a single trade.@@@@1@22@@oe@2-2-2013
21043003@unknown@formal@none@1@S@The exchange argues that the product, which the SEC temporarily approved yesterday, will help ease rather than worsen any volatility in the stock market.@@@@1@24@@oe@2-2-2013
21043004@unknown@formal@none@1@S@SEC Chairman Breeden said he would consider imposing "circuit breakers" to halt program trading during sharp swings in the market.@@@@1@20@@oe@2-2-2013
21043005@unknown@formal@none@1@S@Kemper Financial Services has stopped executing its stock trades through four big securities firms because of their involvement in program trading, which Kemper and others say is ruining the market.@@@@1@30@@oe@2-2-2013
21043006@unknown@formal@none@1@S@The main capital-gains tax plan in the Senate isn't winning support from Democrats who favor a reduction.@@@@1@17@@oe@2-2-2013
21043007@unknown@formal@none@1@S@The trend is making proponents less optimistic a tax cut will pass.@@@@1@12@@oe@2-2-2013
21043008@unknown@formal@none@1@S@Bethlehem Steel's profit plunged 54% in the third quarter, hurt by higher costs and lower shipments to key clients.@@@@1@19@@oe@2-2-2013
21043009@unknown@formal@none@1@S@Also, Armco and National Intergroup had lower operating profit in steel, marking what may be the end of a two-year industry boom.@@@@1@22@@oe@2-2-2013
21043010@unknown@formal@none@1@S@Columbia S&L posted a quarterly loss of $226.3 million as the Beverly Hills thrift reeled from new industry rules and turmoil in junk bonds.@@@@1@24@@oe@2-2-2013
21043011@unknown@formal@none@1@S@Anheuser-Busch plans to aggressively discount its major beer brands, setting the stage for a price war as the beer industry's growth slows.@@@@1@22@@oe@2-2-2013
21043012@unknown@formal@none@1@S@PS New Hampshire received a sweetened bid from another suitor, United Illuminating, which valued its new proposal at $2.29 billion, apparently topping all others so far.@@@@1@26@@oe@2-2-2013
21043013@unknown@formal@none@1@S@Financial markets quieted, with stock prices edging lower, bonds inching up and the dollar almost unchanged.@@@@1@16@@oe@2-2-2013
21043014@unknown@formal@none@1@S@The Dow Jones industrials closed off 5.94 points, at 2653.28.@@@@1@10@@oe@2-2-2013
21043015@unknown@formal@none@1@S@Fed Chairman Greenspan said the central bank can wipe out inflation without causing a recession, but doing so will inflict short-term pain.@@@@1@22@@oe@2-2-2013
21043016@unknown@formal@none@1@S@GM's Hughes Electronics unit said profit slid 22% in the third quarter.@@@@1@12@@oe@2-2-2013
21043017@unknown@formal@none@1@S@The finance unit, GMAC, said net fell 3.1%, but EDS's profit rose 16%.@@@@1@13@@oe@2-2-2013
21043018@unknown@formal@none@1@S@Campeau reportedly may receive a $1.3 billion offer for Bloomingdale's from Tokyu Department Store of Japan.@@@@1@16@@oe@2-2-2013
21043019@unknown@formal@none@1@S@Campeau declined to comment.@@@@1@4@@oe@2-2-2013
21043020@unknown@formal@none@1@S@UAL's pilots and machinists unions appear to hold the key to any future takeover bid for the airline.@@@@1@18@@oe@2-2-2013
21043021@unknown@formal@none@1@S@Provigo plans to sell all non-food operations to refocus on its retail and wholesale grocery business.@@@@1@16@@oe@2-2-2013
21043022@unknown@formal@none@1@S@Also, Chairman Pierre Lortie resigned.@@@@1@5@@oe@2-2-2013
21043023@unknown@formal@none@1@S@Westinghouse expects operating margins of over 10% and sharply higher earnings per share next year due to a major restructuring.@@@@1@20@@oe@2-2-2013
21043024@unknown@formal@none@1@S@Some major U.S. trade partners quickly rejected a compromise proposal by Bush to liberalize trade and reduce farm-product subsidies.@@@@1@19@@oe@2-2-2013
21043025@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
21043026@unknown@formal@none@1@S@Stocks: Volume 155,650,000 shares.@@@@1@4@@oe@2-2-2013
21043027@unknown@formal@none@1@S@Dow Jones industrials 2653.28, off 5.94; transportation 1199.32, off 11.38; utilities 216.49, up 1.45.@@@@1@14@@oe@2-2-2013
21043028@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3427.39, up@@@@1@8@@oe@2-2-2013
21043029@unknown@formal@none@1@S@Commodities: Dow Jones futures index 129.48, up 0.24; spot index 130.73, off 0.03.@@@@1@13@@oe@2-2-2013
21043030@unknown@formal@none@1@S@Dollar: 141.52 yen, up 0.07; 1.8353 marks, off 0.0002.@@@@1@9@@oe@2-2-2013
21044001@unknown@formal@none@1@S@GORBACHEV SAID Moscow won't intervene in East bloc moves to democracy.@@@@1@11@@oe@2-2-2013
21044002@unknown@formal@none@1@S@The Kremlin leader, on the first day of a three-day official visit to Helsinki, assured Finland's president that the Soviet Union has "no moral or political right" to interfere with moves toward democracy in Poland, Hungary or elsewhere in Eastern Europe.@@@@1@41@@oe@2-2-2013
21044003@unknown@formal@none@1@S@In Moscow, the Soviet State Bank announced a 90% devaluation of the ruble against the dollar for private transactions, in an apparent attempt to curb a black market for hard currency.@@@@1@31@@oe@2-2-2013
21044004@unknown@formal@none@1@S@The action will establish a two-tier exchange rate.@@@@1@8@@oe@2-2-2013
21044005@unknown@formal@none@1@S@Workers at six mines in Arctic Circle coal fields called strikes over a series of economic and political demands.@@@@1@19@@oe@2-2-2013
21044006@unknown@formal@none@1@S@The move defied a law, approved in Moscow this month, banning such walkouts.@@@@1@13@@oe@2-2-2013
21044007@unknown@formal@none@1@S@THE HOUSE FAILED to override Bush's veto of a bill easing abortion funding.@@@@1@13@@oe@2-2-2013
21044008@unknown@formal@none@1@S@The chamber voted 231-191, 51 votes short of the two-thirds majority needed to overturn the president's veto of legislation renewing support of Medicaid abortions for poor women who are victims of rape and incest.@@@@1@34@@oe@2-2-2013
21044009@unknown@formal@none@1@S@The roll call was considered an illustration of the limits of power that the resurgent abortion-rights movement faces.@@@@1@18@@oe@2-2-2013
21044010@unknown@formal@none@1@S@The legislation was part of a $156.7 billion measure funding the departments of Labor, Education, and Health.@@@@1@17@@oe@2-2-2013
21044011@unknown@formal@none@1@S@Michigan's Senate passed a bill requiring girls to get parental consent for an abortion and Pennsylvania's House cleared a measure banning abortions after the 24th week of pregnancy.@@@@1@28@@oe@2-2-2013
21044012@unknown@formal@none@1@S@The FDA is expected to approve today a program granting access free of charge to the drug AZT for children with AIDS.@@@@1@22@@oe@2-2-2013
21044013@unknown@formal@none@1@S@Adults have had access to the only approved antiviral drug since 1987.@@@@1@12@@oe@2-2-2013
21044014@unknown@formal@none@1@S@Research shows AZT can relieve dementia and other symptoms in children, 1,859 of whom are known to have been infected.@@@@1@20@@oe@2-2-2013
21044015@unknown@formal@none@1@S@Congress sent to Bush a $2.85 billion emergency package to assist in the recovery from last week's California earthquake and from Hurricane Hugo.@@@@1@23@@oe@2-2-2013
21044016@unknown@formal@none@1@S@The action came after the Senate approved the House-passed measure.@@@@1@10@@oe@2-2-2013
21044017@unknown@formal@none@1@S@In the San Francisco Bay area, more than 13,000 people were homeless and landslides threatened more houses.@@@@1@17@@oe@2-2-2013
21044018@unknown@formal@none@1@S@House-Senate conferees agreed to continue production of Grumman Corp.'s F-14 jet and to provide more than $3.8 billion during the current fiscal year to develop a space-based anti-missile system.@@@@1@29@@oe@2-2-2013
21044019@unknown@formal@none@1@S@The final package is expected to be announced within the next week.@@@@1@12@@oe@2-2-2013
21044020@unknown@formal@none@1@S@The White House has decided to seek changes in pesticide law that are aimed at speeding the removal of harmful chemicals from the food supply.@@@@1@25@@oe@2-2-2013
21044021@unknown@formal@none@1@S@The changes, which could be announced as early as today, would apply to pesticides and other substances found on fresh and processed foods, officials said.@@@@1@25@@oe@2-2-2013
21044022@unknown@formal@none@1@S@East German leader Krenz said he was willing to hold talks with opposition groups pressing for internal changes.@@@@1@18@@oe@2-2-2013
21044023@unknown@formal@none@1@S@The Communist Party chief, facing what is viewed as the nation's worst unrest in nearly 40 years, also said he would allow East Germans to travel abroad more freely, but made clear that the Berlin Wall would remain.@@@@1@38@@oe@2-2-2013
21044024@unknown@formal@none@1@S@A Lebanese Christian alliance accepted an Arab-sponsored proposal aimed at ending Lebanon's 14-year-old civil war.@@@@1@15@@oe@2-2-2013
21044025@unknown@formal@none@1@S@The move by the coalition of political parties and Lebanon's largest Christian militia isolated military chief Aoun, who has rejected the plan, which includes political changes and a Syrian troop withdrawal from Beirut.@@@@1@33@@oe@2-2-2013
21044026@unknown@formal@none@1@S@Baker offered to review Israel's "suggested changes" to his proposal for direct Israeli-Palestinian talks.@@@@1@14@@oe@2-2-2013
21044027@unknown@formal@none@1@S@But the secretary of state advised Israel that attempting to overhaul the five-point plan risked delaying the negotiations aimed at Mideast peace.@@@@1@22@@oe@2-2-2013
21044028@unknown@formal@none@1@S@NATO defense ministers said the 16-nation alliance continues to need a strong nuclear strategy despite political changes in Eastern Europe.@@@@1@20@@oe@2-2-2013
21044029@unknown@formal@none@1@S@The ministers, concluding a two-day meeting in southern Portugal, welcomed Moscow's pledges to cut its military forces, but urged the Soviets to do more to slash short-range nuclear weapons.@@@@1@29@@oe@2-2-2013
21044030@unknown@formal@none@1@S@The Justice Department indicated a possible challenge to a court order allowing former National Security Adviser Poindexter to subpoena ex-President Reagan's personal papers for use in the defense case against Iran-Contra charges.@@@@1@32@@oe@2-2-2013
21044031@unknown@formal@none@1@S@A department spokesman said the ruling "raised a serious question" about the office of the president.@@@@1@16@@oe@2-2-2013
21044032@unknown@formal@none@1@S@Bush said Washington would continue a trade embargo against Nicaragua, declaring that the Central American country poses "an unusual and extraordinary threat" to the security of the U.S.@@@@1@28@@oe@2-2-2013
21044033@unknown@formal@none@1@S@Meanwhile, Secretary of State Baker said the U.S. protested to Moscow over shipments of East bloc arms to Salvadoran rebels from Managua.@@@@1@22@@oe@2-2-2013
21044034@unknown@formal@none@1@S@A landslide engulfed a hillside slum in Sao Paulo, Brazil, and at least 20 people, most of them children, were missing and feared dead.@@@@1@24@@oe@2-2-2013
21044035@unknown@formal@none@1@S@The city's mayor vowed to take legal action against developers who had been excavating at the crest of the hill.@@@@1@20@@oe@2-2-2013
21044036@unknown@formal@none@1@S@Czechoslovakia's premier said he supports broad political and economic restructuring, but ruled out any dialogue between Prague's Communist government and independent human-rights or dissident groups.@@@@1@25@@oe@2-2-2013
21044037@unknown@formal@none@1@S@Ladislav Adamec, ending a two-day visit to Austria, pledged changes in Czechoslovakia, including freer travel to the West.@@@@1@18@@oe@2-2-2013
21044038@unknown@formal@none@1@S@Died: Mary McCarthy, 77, novelist and literary critic, in New York City, of cancer. . . .@@@@1@17@@oe@2-2-2013
21044039@unknown@formal@none@1@S@Marion Harper, 73, founder and ex-chief executive of Interpublic Group of Cos., in Oklahoma City, of a heart attack.@@@@1@19@@oe@2-2-2013
21045001@unknown@formal@none@1@S@Adolph Coors Co. said William K. Coors, chairman, assumed the additional responsibilities of president, succeeding Jeffrey H. Coors.@@@@1@18@@oe@2-2-2013
21045002@unknown@formal@none@1@S@Jeffrey Coors, 44 years old, had been president since 1985, when he succeeded his father Joseph in the job.@@@@1@19@@oe@2-2-2013
21045003@unknown@formal@none@1@S@But the brewer said Jeffrey Coors voluntarily gave up the position to focus more of his energy on Coors Technology Co., a small unit of Coors he has run for several years.@@@@1@32@@oe@2-2-2013
21045004@unknown@formal@none@1@S@A Coors spokesman said the company doesn't believe the move will further increase William Coors's influence or reduce the influence of Jeffrey Coors, Peter Coors or Joseph Coors Jr., who run the company's three operating units.@@@@1@36@@oe@2-2-2013
21045005@unknown@formal@none@1@S@"It certainly wasn't intended to be a demotion," the spokesman said.@@@@1@11@@oe@2-2-2013
21045006@unknown@formal@none@1@S@"Pete and Jeff and Joe Jr. have taken over the reins and are doing most of the work.@@@@1@18@@oe@2-2-2013
21045007@unknown@formal@none@1@S@We don't think this will affect that."@@@@1@7@@oe@2-2-2013
21045008@unknown@formal@none@1@S@Jeffrey, Peter and Joseph Jr. are brothers.@@@@1@7@@oe@2-2-2013
21045009@unknown@formal@none@1@S@William Coors is their uncle.@@@@1@5@@oe@2-2-2013
21045010@unknown@formal@none@1@S@Jeffrey, Peter, Joseph Jr., William and Joseph Sr. constitute the company's board.@@@@1@12@@oe@2-2-2013
21045011@unknown@formal@none@1@S@Peter Coors runs the Coors Brewing Co. unit, the nation's fourth-largest brewery that accounted for $1.24 billion of Adolph Coors's $1.52 billion in 1988 sales.@@@@1@25@@oe@2-2-2013
21045012@unknown@formal@none@1@S@Joseph Jr. runs Coors Ceramics Co., the other operating unit, which had about $150 million in 1988 sales.@@@@1@18@@oe@2-2-2013
21046001@unknown@formal@none@1@S@Dun & Bradstreet Corp. said business failures fell 17.8% to 11,586 in the third quarter from 14,099 in the year-earlier period.@@@@1@21@@oe@2-2-2013
21046002@unknown@formal@none@1@S@In the first nine months of this year, business failures dropped 15.6% to 37,820 from 44,796.@@@@1@16@@oe@2-2-2013
21046003@unknown@formal@none@1@S@Except for a few spots, notably Georgia, Virginia and Michigan, failures declined almost across the board, according to the business information services company.@@@@1@23@@oe@2-2-2013
21046004@unknown@formal@none@1@S@D&B defines a business failure as a company that closes with losses to creditors.@@@@1@14@@oe@2-2-2013
21046005@unknown@formal@none@1@S@The current decline in failures continues a trend begun in late 1987, D&B said.@@@@1@14@@oe@2-2-2013
21046006@unknown@formal@none@1@S@The drop accelerated in this year's third quarter, underscoring an overall lack of stress in the U.S. economy, the company said.@@@@1@21@@oe@2-2-2013
21046007@unknown@formal@none@1@S@Failures in seven of nine regional areas fell more than 10% in the nine months.@@@@1@15@@oe@2-2-2013
21046008@unknown@formal@none@1@S@The South Atlantic States were the only region to report an increase in bankruptcies, up 5.3% to 5,791 from 5,502.@@@@1@20@@oe@2-2-2013
21046009@unknown@formal@none@1@S@This occurred partly because of more competition as the number of new businesses surged.@@@@1@14@@oe@2-2-2013
21046010@unknown@formal@none@1@S@The only industry sector to report more business failures for the nine months was the finance, insurance and real-estate sector, where bankruptcies grew 8.1% to 2,046 from 1,892.@@@@1@28@@oe@2-2-2013
21046011@unknown@formal@none@1@S@The troubled savings-and-loan industry and subsequent stress in real-estate businesses fueled bankruptcies in this sector, D&B said.@@@@1@17@@oe@2-2-2013
21047001@unknown@formal@none@1@S@A major Tokyo newspaper reported that a Japanese department store concern is planning to offer about $1.3 billion to buy Bloomingdale's.@@@@1@21@@oe@2-2-2013
21047002@unknown@formal@none@1@S@Campeau Corp., the chain's owner, declined to comment on the report.@@@@1@11@@oe@2-2-2013
21047003@unknown@formal@none@1@S@A spokeswoman said Toronto-based Campeau has received "expressions of interest" in Bloomingdale's, but she declined to comment on whether any actual bids had been made.@@@@1@25@@oe@2-2-2013
21047004@unknown@formal@none@1@S@Nihon Keizai Shimbun, Japan's leading economic newspaper, reported Wednesday that Tokyu Department Store Co. is planning to team up with U.S. and Western European financing to buy the New York-based retail chain, which Campeau has put up for sale.@@@@1@39@@oe@2-2-2013
21047005@unknown@formal@none@1@S@The service didn't identify its Tokyu sources.@@@@1@7@@oe@2-2-2013
21047006@unknown@formal@none@1@S@"This is the first of many rumors we expect to hear during the sale's process," said a Bloomingdale's spokesman.@@@@1@19@@oe@2-2-2013
21047007@unknown@formal@none@1@S@"We won't comment on them."@@@@1@5@@oe@2-2-2013
21047008@unknown@formal@none@1@S@Tokyu executives weren't available for comment early Thursday morning in Tokyo.@@@@1@11@@oe@2-2-2013
21047009@unknown@formal@none@1@S@Campeau's chairman, Robert Campeau, said at its annual meeting in July that he valued Bloomingdale's at $2 billion.@@@@1@18@@oe@2-2-2013
21047010@unknown@formal@none@1@S@Among previously disclosed possible bidders is Bloomingdale's Chairman Marvin Traub, who has aligned himself with Drexel Burnham Lambert Inc. and Blackstone Group.@@@@1@22@@oe@2-2-2013
21047011@unknown@formal@none@1@S@Investment bankers in Tokyo confirmed that Tokyu Department Store is one of several Japanese companies that has been approached by representatives of a management committee headed by Bloomingdale's Mr. Traub.@@@@1@30@@oe@2-2-2013
21047012@unknown@formal@none@1@S@But they said detailed financial figures haven't been passed yet to any prospective buyers.@@@@1@14@@oe@2-2-2013
21047013@unknown@formal@none@1@S@"Nobody is going to make a real bid before the middle of November," said one investment banker familiar with the discussions in Japan.@@@@1@23@@oe@2-2-2013
21047014@unknown@formal@none@1@S@"Tokyu is one of the potential buyers who might raise its hand.@@@@1@12@@oe@2-2-2013
21047015@unknown@formal@none@1@S@But it's in very early stages still."@@@@1@7@@oe@2-2-2013
21047016@unknown@formal@none@1@S@Bloomingdale's is a 17-store chain acquired last year by Campeau in its $6.6 billion acquisition of Federated.@@@@1@17@@oe@2-2-2013
21047017@unknown@formal@none@1@S@Bloomingdale's does an estimated $1.2 billion in annual sales.@@@@1@9@@oe@2-2-2013
21047018@unknown@formal@none@1@S@The sale of Bloomingdale's is a condition of efforts by Toronto-based Olympia & York Developments Ltd. to arrange $800 million in bridge financing for Campeau, which disclosed last month that its retailing units, Federated Department Stores Inc. and Allied Stores Corp., were strapped for cash.@@@@1@45@@oe@2-2-2013
21047019@unknown@formal@none@1@S@O&Y, owned by Toronto's Reichmann family, is also supervising major restructuring and refinancing of Campeau, a Toronto-based real estate and retailing company.@@@@1@22@@oe@2-2-2013
21047020@unknown@formal@none@1@S@One executive familiar with the Bloomingdale's situation said, "No book has been issued regarding Bloomingdale's, there are no projections, so I doubt very much whether any bid has been made."@@@@1@30@@oe@2-2-2013
21047021@unknown@formal@none@1@S@Separately, a Campeau shareholder filed suit, charging Campeau, Chairman Robert Campeau and other officers with violating securities law.@@@@1@18@@oe@2-2-2013
21047022@unknown@formal@none@1@S@The suit, filed in U.S. District Court in Manhattan, seeks class-action status.@@@@1@12@@oe@2-2-2013
21047023@unknown@formal@none@1@S@The suit accuses the retailer and several of its officers of making false and misleading statements about the company's business affairs.@@@@1@21@@oe@2-2-2013
21047024@unknown@formal@none@1@S@The suit says the company failed to disclose material adverse information about its financial condition.@@@@1@15@@oe@2-2-2013
21047025@unknown@formal@none@1@S@A spokesman for the company said Campeau hasn't seen the suit and declined to comment.@@@@1@15@@oe@2-2-2013
21048001@unknown@formal@none@1@S@McCaw Cellular Communications Inc. must extend its offer for LIN Broadcasting Corp. because it has "not yet announced committed financing sufficient to complete" the bid, LIN said in New York.@@@@1@30@@oe@2-2-2013
21048002@unknown@formal@none@1@S@According to Securities and Exchange Commission rules, McCaw is required to keep its offer for the cellular-phone and broadcasting concern open for at least five business days after the announcement of the financing, LIN said.@@@@1@35@@oe@2-2-2013
21048003@unknown@formal@none@1@S@McCaw's offer is scheduled to expire tomorrow.@@@@1@7@@oe@2-2-2013
21048004@unknown@formal@none@1@S@Last week, McCaw said it obtained "firm" financing commitments from three major banks in regard to its bid to control LIN Broadcasting.@@@@1@22@@oe@2-2-2013
21048005@unknown@formal@none@1@S@The banks jointly committed $1.2 billion of financing, subject to certain conditions, McCaw said.@@@@1@14@@oe@2-2-2013
21048006@unknown@formal@none@1@S@A spokesman for McCaw said the company was "moving forward with our financing."@@@@1@13@@oe@2-2-2013
21048007@unknown@formal@none@1@S@He added that "hopefully LIN will conduct a fair auction."@@@@1@10@@oe@2-2-2013
21048008@unknown@formal@none@1@S@McCaw wants to buy 22 million shares of LIN for $125 each, or $2.75 billion, which would result in McCaw's owning 50.3% of LIN.@@@@1@24@@oe@2-2-2013
21048009@unknown@formal@none@1@S@The offer is in limbo, however, because LIN has agreed to merge its cellular-phone businesses with BellSouth Corp.@@@@1@18@@oe@2-2-2013
21048010@unknown@formal@none@1@S@In national over-the-counter trading yesterday, LIN rose 50 cents, to $109.25.@@@@1@11@@oe@2-2-2013
21049001@unknown@formal@none@1@S@NICHOLS INSTITUTE declared a 2-for-1 split of its common stock, payable Nov. 27 to stock of record Nov. 10.@@@@1@19@@oe@2-2-2013
21049002@unknown@formal@none@1@S@The clinical testing services holding company is based in San Juan Capistrano, Calif.@@@@1@13@@oe@2-2-2013
21050001@unknown@formal@none@1@S@StatesWest Airlines, Phoenix, Ariz., said it sent a more detailed merger proposal to much-larger Mesa Airlines.@@@@1@16@@oe@2-2-2013
21050002@unknown@formal@none@1@S@Farmington, N.M.-based Mesa has consistently rejected StatesWest's offers, and early this week said its board wouldn't give the proposal further consideration, calling it "vague and ill-defined" because it didn't describe the source of funds or the specific terms of StatesWest securities which were part of the offer.@@@@1@47@@oe@2-2-2013
21050003@unknown@formal@none@1@S@The new letter purports to do this, saying that in addition to $7 a share in cash, StatesWest would offer one share of new 6% convertible preferred stock of StatesWest it values at $3 a share.@@@@1@36@@oe@2-2-2013
21050004@unknown@formal@none@1@S@It also said the cash portion of the transaction would be financed with StatesWest's own cash and short-term investments, plus debt and other financing arranged through Hibbard Brown & Co., the company's investment banker.@@@@1@34@@oe@2-2-2013
21050005@unknown@formal@none@1@S@In national over-the-counter trading yesterday, Mesa closed at $7.25, up 25 cents.@@@@1@12@@oe@2-2-2013
21050006@unknown@formal@none@1@S@StatesWest asked Mesa to repond by Oct. 31.@@@@1@8@@oe@2-2-2013
21050007@unknown@formal@none@1@S@Mesa President Larry Risley said his board had received Stateswest's most recent offer and was reviewing it.@@@@1@17@@oe@2-2-2013
21051001@unknown@formal@none@1@S@Spiegel Inc., citing continuing improvement in the apparel market, said third-quarter net income jumped 65% from the soft year-earlier period, on an 11% increase in revenue.@@@@1@26@@oe@2-2-2013
21051002@unknown@formal@none@1@S@The catalog retailer reported net income of $10.8 million, or 21 cents a share, up sharply from $6.6 million, or 13 cents a share, a year earlier.@@@@1@27@@oe@2-2-2013
21051003@unknown@formal@none@1@S@Revenue rose to $372.1 million from $336.4 million.@@@@1@8@@oe@2-2-2013
21051004@unknown@formal@none@1@S@Spiegel said margins improved because its inventory position this year didn't need the costly markdowns required to trim last year's swollen levels.@@@@1@22@@oe@2-2-2013
21051005@unknown@formal@none@1@S@A spokeswoman said the apparel market troughed in the first half of 1988, then began showing improvement in the second half of last year.@@@@1@24@@oe@2-2-2013
21051006@unknown@formal@none@1@S@"We've seen continued improvement in 1989," she said.@@@@1@8@@oe@2-2-2013
21051007@unknown@formal@none@1@S@The year-ago quarter's results were crimped by expenses associated with Spiegel's $260 million acquisition of catalog-clothing-merchandiser Eddie Bauer, Spiegel noted.@@@@1@20@@oe@2-2-2013
21051008@unknown@formal@none@1@S@In addition, the company said ongoing cost-cutting efforts contributed to the latest period's earnings upturn.@@@@1@15@@oe@2-2-2013
21051009@unknown@formal@none@1@S@Spiegel is 84%-controlled by the Otto family of West Germany.@@@@1@10@@oe@2-2-2013
21051010@unknown@formal@none@1@S@In national over-the-counter trading, the company's shares climbed 37.5 cents to $20.375.@@@@1@12@@oe@2-2-2013
21051011@unknown@formal@none@1@S@For the latest nine months, Spiegel's net climbed a solid 47% to $23.8 million, or 46 cents a share, from $16.2 million, or 34 cents.@@@@1@25@@oe@2-2-2013
21051012@unknown@formal@none@1@S@Unlike the quarter's results, which were based on roughly equal shares outstanding, nine-month per-share figures reflect an increase in average common shares outstanding to 51.9 million from 47 million.@@@@1@29@@oe@2-2-2013
21051013@unknown@formal@none@1@S@Nine-month revenue was $1.02 billion, up 22% from $841.5 million.@@@@1@10@@oe@2-2-2013
21052001@unknown@formal@none@1@S@The bad news in the junk bond market yesterday was that TW Services, a group of restaurant chains, became the latest prospective issuer to get a cold shoulder from bond buyers.@@@@1@31@@oe@2-2-2013
21052002@unknown@formal@none@1@S@The good news -- to fans of stable credit, at least -- is what the rejection says about the state of mind of junk buyers.@@@@1@25@@oe@2-2-2013
21052003@unknown@formal@none@1@S@Apparently they are learning to say no to excess risk.@@@@1@10@@oe@2-2-2013
21052004@unknown@formal@none@1@S@Coniston Partners, which with related entities controls 80% of TW, had been planning to sell $1.15 billion of junk bonds, among other things to finance their acquisition of the remaining public shares.@@@@1@32@@oe@2-2-2013
21052005@unknown@formal@none@1@S@But Coniston, a New York partnership managed by the firm of Gollust, Tierney & Oliver, yesterday announced that "in view of unsettled conditions in securities markets" the offering would be postponed and restructured.@@@@1@33@@oe@2-2-2013
21052006@unknown@formal@none@1@S@What wasn't mentioned is that Coniston and its investment banker, Donaldson, Lufkin & Jenrette, just completed a two-week "road show" for the purpose of marketing the bonds.@@@@1@27@@oe@2-2-2013
21052007@unknown@formal@none@1@S@And investors, at least for now, took a pass.@@@@1@9@@oe@2-2-2013
21052008@unknown@formal@none@1@S@TW's junk bonds weren't, as junk bonds go, unusually weak.@@@@1@10@@oe@2-2-2013
21052009@unknown@formal@none@1@S@Its fast-food restaurants -- including Denny's, Hardee's, Quincy's and El Pollo Loco ("the only significant fast-food chain to specialize in char-broiled chicken") -- are stable, recession-resistant and growing.@@@@1@28@@oe@2-2-2013
21052010@unknown@formal@none@1@S@But unless they continued to grow, TW, based in Paramus, N.J., would have run into trouble.@@@@1@16@@oe@2-2-2013
21052011@unknown@formal@none@1@S@Until recently, such buy-now, pray-for-growth-later deals were routine.@@@@1@8@@oe@2-2-2013
21052012@unknown@formal@none@1@S@"But people don't buy anything on expectation anymore," says Jack Utter, who manages the high-yield fund of IDS Financial Services.@@@@1@20@@oe@2-2-2013
21052013@unknown@formal@none@1@S@"Investors," he adds, "are getting religion."@@@@1@6@@oe@2-2-2013
21052014@unknown@formal@none@1@S@The TW buy-out may yet be financed.@@@@1@7@@oe@2-2-2013
21052015@unknown@formal@none@1@S@"There is nothing wrong with the company," says Coniston principal Paul Tierney.@@@@1@12@@oe@2-2-2013
21052016@unknown@formal@none@1@S@The rub, he says, is that "the junk market isn't as deep" as before.@@@@1@14@@oe@2-2-2013
21052017@unknown@formal@none@1@S@TW's stockholder meeting was postponed from tomorrow to Nov. 21.@@@@1@10@@oe@2-2-2013
21052018@unknown@formal@none@1@S@By then, DLJ hopes to be able to sell less-junky junk bonds.@@@@1@12@@oe@2-2-2013
21052019@unknown@formal@none@1@S@Gollust, Tierney & Oliver is likely to contribute more than the $120 million in equity it had planned on.@@@@1@19@@oe@2-2-2013
21052020@unknown@formal@none@1@S@Banks may contribute more senior debt.@@@@1@6@@oe@2-2-2013
21052021@unknown@formal@none@1@S@And the total amount of junk financing will be reduced.@@@@1@10@@oe@2-2-2013
21052022@unknown@formal@none@1@S@A DLJ banker, putting a best possible face on it, asserts that "very few people said they didn't like the credit quality.@@@@1@22@@oe@2-2-2013
21052023@unknown@formal@none@1@S@People said they didn't think a billion-dollar deal would trade."@@@@1@10@@oe@2-2-2013
21052024@unknown@formal@none@1@S@But trading risk stems from credit risk.@@@@1@7@@oe@2-2-2013
21052025@unknown@formal@none@1@S@And by adding equity, DLJ would seem to be acknowledging that credit risk was a concern.@@@@1@16@@oe@2-2-2013
21052026@unknown@formal@none@1@S@Indeed, the DLJ banker says, in the reborn capital structure cash coverage of interest "will meaningfully improve."@@@@1@17@@oe@2-2-2013
21052027@unknown@formal@none@1@S@As he sums it up: "We are listening to the market."@@@@1@11@@oe@2-2-2013
21052028@unknown@formal@none@1@S@What is it, to borrow a term from Coniston, that so unsettled the market?@@@@1@14@@oe@2-2-2013
21052029@unknown@formal@none@1@S@Some of the same risks that were cited -- and seemingly ignored -- in dozens of previous junk offerings.@@@@1@19@@oe@2-2-2013
21052030@unknown@formal@none@1@S@The TW prospectus says that if the acquisition had been completed earlier, pretax earnings "would have been insufficient to cover its fixed charges, including interest on debt securities," by approximately $62.7 million in the first six months of 1989.@@@@1@39@@oe@2-2-2013
21052031@unknown@formal@none@1@S@TW notes, as many junk issuers do, that "adjusted to eliminate non-cash charges" TW would have run a cash surplus -- in this case, of $56 million over six months.@@@@1@30@@oe@2-2-2013
21052032@unknown@formal@none@1@S@But such calculations ignore the noncash charge of depreciation, taken to allow for the gradual wearing out of french friers, deterioration of stores and the like.@@@@1@26@@oe@2-2-2013
21052033@unknown@formal@none@1@S@In fact, DLJ says, the company envisions capital expenses of about $180 million a year.@@@@1@15@@oe@2-2-2013
21052034@unknown@formal@none@1@S@TW's pitch was that sales and earnings at its restaurants have risen steadily and that people won't stop eating during a downturn.@@@@1@22@@oe@2-2-2013
21052035@unknown@formal@none@1@S@But they won't necessarily eat at Denny's.@@@@1@7@@oe@2-2-2013
21052036@unknown@formal@none@1@S@The fast-food business is "intensely competitive," notes Wertheim Schroder analyst John Rohs.@@@@1@12@@oe@2-2-2013
21052037@unknown@formal@none@1@S@Prospective bond buyers noted that TW historically has prospered because it has been willing to spend aggressively on remodeling restaurants and redoing menus.@@@@1@23@@oe@2-2-2013
21052038@unknown@formal@none@1@S@"We were concerned that they weren't going to generate enough cash for capital spending and also to pay down debt," says a big investor in high-yield debt.@@@@1@27@@oe@2-2-2013
21052039@unknown@formal@none@1@S@DLJ argues that TW could, if necessary, cut capital spending, since half of what it plans to spend is for "growth," rather than maintenance.@@@@1@24@@oe@2-2-2013
21052040@unknown@formal@none@1@S@But investors noted that under the shelved offering, TW would have needed to grow to meet its debt payments.@@@@1@19@@oe@2-2-2013
21052041@unknown@formal@none@1@S@Its calculations for meeting cash charges ignore $52 million a year in interest on cash-deferred, or zero-coupon debentures -- which ultimately would have had to be paid.@@@@1@27@@oe@2-2-2013
21052042@unknown@formal@none@1@S@The prospectus notes "there can be no assurance" that future growth will continue at past levels.@@@@1@16@@oe@2-2-2013
21052043@unknown@formal@none@1@S@In the recent past, bond buyers didn't seek such assurance.@@@@1@10@@oe@2-2-2013
21052044@unknown@formal@none@1@S@Now, apparently, they do.@@@@1@4@@oe@2-2-2013
21052045@unknown@formal@none@1@S@TW Services@@@@1@2@@oe@2-2-2013
21052046@unknown@formal@none@1@S@(NYSE; Symbol: TW)@@@@1@3@@oe@2-2-2013
21052047@unknown@formal@none@1@S@Business: Restaurants@@@@1@2@@oe@2-2-2013
21052048@unknown@formal@none@1@S@Year ended Dec. 31, 1988*@@@@1@5@@oe@2-2-2013
21052049@unknown@formal@none@1@S@Revenue: $3.57 billion@@@@1@3@@oe@2-2-2013
21052050@unknown@formal@none@1@S@Net Income: $66.9 million; $1.36 a share**@@@@1@7@@oe@2-2-2013
21052051@unknown@formal@none@1@S@Third quarter, Sept. 30, 1989: (Net Loss: 7 cents share) vs. net income: 51 cents a share@@@@1@17@@oe@2-2-2013
21052052@unknown@formal@none@1@S@Average daily trading volume: 179,032 shares@@@@1@6@@oe@2-2-2013
21052053@unknown@formal@none@1@S@Common shares outstanding: 49 million@@@@1@5@@oe@2-2-2013
21052054@unknown@formal@none@1@S@*Includes results of Denny's Inc., acquired in September@@@@1@8@@oe@2-2-2013
21052055@unknown@formal@none@1@S@**Includes $9 million write-down of assets and takeover defense costs.@@@@1@10@@oe@2-2-2013
21053001@unknown@formal@none@1@S@Maggie Thatcher must be doing something right; her political enemies are screaming louder than ever.@@@@1@15@@oe@2-2-2013
21053002@unknown@formal@none@1@S@Mrs. Thatcher, who was practicing the read-my-lips school of politics years before Mr. Bush encountered it, has made clear her opposition to refashioning Britain's free-market policies to suit the bureaucrats in Brussels.@@@@1@32@@oe@2-2-2013
21053003@unknown@formal@none@1@S@In return, Mrs. Thatcher is excoriated from Fleet Street to Paris as an obstructionist.@@@@1@14@@oe@2-2-2013
21053004@unknown@formal@none@1@S@Well, it now turns out that Mrs. Thatcher had to travel across the globe to the 49-member Commonwealth summit in Kuala Lumpur to discomfit the Holy Order of Consensus Builders.@@@@1@30@@oe@2-2-2013
21053005@unknown@formal@none@1@S@"A disastrous farce in Malaysia," screamed the Manchester Guardian.@@@@1@9@@oe@2-2-2013
21053006@unknown@formal@none@1@S@"She can no longer be trusted to behave in a civilised -- that is unflaky -- fashion when abroad."@@@@1@19@@oe@2-2-2013
21053007@unknown@formal@none@1@S@Egad.@@@@1@1@@oe@2-2-2013
21053008@unknown@formal@none@1@S@Canada's Brian Mulroney and Australia's Bob Hawke, the paper said, were "enraged."@@@@1@12@@oe@2-2-2013
21053009@unknown@formal@none@1@S@The London Times said she had "contravened protocol."@@@@1@8@@oe@2-2-2013
21053010@unknown@formal@none@1@S@As usual, her sin was saying what she thought.@@@@1@9@@oe@2-2-2013
21053011@unknown@formal@none@1@S@She issued a separate statement, separating herself from a Commonwealth document reasserting the political value of imposing sanctions against South Africa.@@@@1@21@@oe@2-2-2013
21053012@unknown@formal@none@1@S@While supporting the Commonwealth "in utterly condemning apartheid," her statement urged it to "encourage change" rather than inflict further punishment on the country's black population.@@@@1@25@@oe@2-2-2013
21053013@unknown@formal@none@1@S@Actually there is a consensus somewhere on sanctions: In May a Gallup Poll found that most South African blacks, 85%, oppose economic sanctions.@@@@1@23@@oe@2-2-2013
21053014@unknown@formal@none@1@S@Still, Mrs. Thatcher had once again gone against the grain.@@@@1@10@@oe@2-2-2013
21053015@unknown@formal@none@1@S@Malaysia's Prime Minister Mahathir Mohamad sniffed, "If everybody else puts out their left foot and you put out your right foot, you are out of step."@@@@1@26@@oe@2-2-2013
21053016@unknown@formal@none@1@S@Mrs. Thatcher: "If it's one against 48, I'm very sorry for the 48."@@@@1@13@@oe@2-2-2013
21053017@unknown@formal@none@1@S@If indeed Mrs. Thatcher has one opponent that could throw her off political course it is Britain's mysteriously intractable inflation problem.@@@@1@21@@oe@2-2-2013
21053018@unknown@formal@none@1@S@We cannot, however, join the political chorus that as one proclaims how offputting it is that Mrs. Thatcher refuses to get along by going along.@@@@1@25@@oe@2-2-2013
21053019@unknown@formal@none@1@S@It is refreshing to see at least one world figure who knows what she believes in and is not inclined to reflexively compromise those beliefs.@@@@1@25@@oe@2-2-2013
21053020@unknown@formal@none@1@S@Perhaps Mrs. Thatcher understands better than those distressed at her style that ultimately history and Britain's voters will decide who is right about Europe, sanctioning South Africa or running Britain's economy.@@@@1@31@@oe@2-2-2013
21054001@unknown@formal@none@1@S@Follow With Care@@@@1@3@@oe@2-2-2013
21054002@unknown@formal@none@1@S@"Work hard, play hard" is advice Best taken with some caution, For it can bring fitness and success Or a state of total exhaustion.@@@@1@24@@oe@2-2-2013
21054003@unknown@formal@none@1@S@-- Edward F. Dempsey.@@@@1@4@@oe@2-2-2013
21054004@unknown@formal@none@1@S@Double Check@@@@1@2@@oe@2-2-2013
21054005@unknown@formal@none@1@S@The guest paid his bill at the resort hotel, and as he departed he noticed a sign saying, "Have You Left Anything?"@@@@1@22@@oe@2-2-2013
21054006@unknown@formal@none@1@S@The man went back and spoke to the desk clerk: "That sign is wrong," he said.@@@@1@16@@oe@2-2-2013
21054007@unknown@formal@none@1@S@"It should read, "Have You Anything Left?"@@@@1@7@@oe@2-2-2013
21054008@unknown@formal@none@1@S@-- Sam Ewing.@@@@1@3@@oe@2-2-2013
21055001@unknown@formal@none@1@S@After being trampled in Tuesday's selling stampede, the Nasdaq over-the-counter market dusted itself off and moved on in moderate trading.@@@@1@20@@oe@2-2-2013
21055002@unknown@formal@none@1@S@But while the Composite gained 1.19, to 462.89, many issues didn't participate in the advance.@@@@1@15@@oe@2-2-2013
21055003@unknown@formal@none@1@S@"It was a mixed bag," said Richard Bruno, who heads over-the-counter trading at PaineWebber.@@@@1@14@@oe@2-2-2013
21055004@unknown@formal@none@1@S@"We played catch-up in some areas, and sold off in some others."@@@@1@12@@oe@2-2-2013
21055005@unknown@formal@none@1@S@Volume totaled 132.1 million shares, which is about average for the year.@@@@1@12@@oe@2-2-2013
21055006@unknown@formal@none@1@S@Of the 4,348 issues that changed hands, 1,074 advanced and 866 declined.@@@@1@12@@oe@2-2-2013
21055007@unknown@formal@none@1@S@Big financial stocks carried the day.@@@@1@6@@oe@2-2-2013
21055008@unknown@formal@none@1@S@The Nasdaq Financial Index rose 2.09, to 454.86.@@@@1@8@@oe@2-2-2013
21055009@unknown@formal@none@1@S@Meanwhile, the Nasdaq 100 Index of the big non-financial stocks basically stood still, easing 0.12, to 452.23.@@@@1@17@@oe@2-2-2013
21055010@unknown@formal@none@1@S@Despite the Composite's advance, some trading officials are guardedly optimistic that the market is on the road to recovery.@@@@1@19@@oe@2-2-2013
21055011@unknown@formal@none@1@S@Lance Zipper, head of over-the-counter trading at Kidder Peabody, said it is difficult to make predictions based on yesterday's trading volume.@@@@1@21@@oe@2-2-2013
21055012@unknown@formal@none@1@S@The advance felt more like a technical bounce, he said.@@@@1@10@@oe@2-2-2013
21055013@unknown@formal@none@1@S@"The market acted better, but it wasn't a tremendous comeback," Mr. Zipper observed.@@@@1@13@@oe@2-2-2013
21055014@unknown@formal@none@1@S@"If we get a decent rally {today}, maybe the buyers will come back."@@@@1@13@@oe@2-2-2013
21055015@unknown@formal@none@1@S@If E.E. "Buzzy" Geduld is right, a seatbelt may come in handy during the next few sessions.@@@@1@17@@oe@2-2-2013
21055016@unknown@formal@none@1@S@The president of Herzog, Heine, Mr. Geduld expects the market to be "very choppy" for a while.@@@@1@17@@oe@2-2-2013
21055017@unknown@formal@none@1@S@"There's a lot of uncertainty out there, and it will cause a lot of swings," he said.@@@@1@17@@oe@2-2-2013
21055018@unknown@formal@none@1@S@Among active stocks, MCI Communications rose 7/8 to 43 on 2.2 million shares, Mentor Graphics added 1/8 to 16 3/8 on turnover of 1.5 million shares.@@@@1@26@@oe@2-2-2013
21055019@unknown@formal@none@1@S@Apple Computer dropped 1 1/8 to 46 1/2 on one million shares.@@@@1@12@@oe@2-2-2013
21055020@unknown@formal@none@1@S@Almost one million shares of Sun Microsystems changed hands, but the issue was unchanged at 17 3/4.@@@@1@17@@oe@2-2-2013
21055021@unknown@formal@none@1@S@Biotechnology issues were strong.@@@@1@4@@oe@2-2-2013
21055022@unknown@formal@none@1@S@Amgen advanced 1 1/2 to 56; Chiron jumped 2 to 29 3/4; Cetus gained 1 to 16 7/8 and Biogen rose 5/8 to 14 5/8.@@@@1@25@@oe@2-2-2013
21055023@unknown@formal@none@1@S@The American depositary receipts of Jaguar jumped 3/8 to 11 5/8 on turnover of 1.9 million.@@@@1@16@@oe@2-2-2013
21055024@unknown@formal@none@1@S@Ford Motor said it raised its stake in the British car maker to 12.45% of the ordinary shares outstanding.@@@@1@19@@oe@2-2-2013
21055025@unknown@formal@none@1@S@In a Securities and Exchange Commission filing, Ford said it holds 22.8 million ordinary shares.@@@@1@15@@oe@2-2-2013
21055026@unknown@formal@none@1@S@The company has said it is prepared to make a bid for all of the shares outstanding of Jaguar if British government restrictions to such a transaction are removed.@@@@1@29@@oe@2-2-2013
21055027@unknown@formal@none@1@S@Another takeover target, LIN Broadcasting, rose 1/2 to 109 1/4 on 495,000 shares.@@@@1@13@@oe@2-2-2013
21055028@unknown@formal@none@1@S@Its suitor, McCaw Cellular, also added 1/2 to 40 1/2 on 395,700 shares.@@@@1@13@@oe@2-2-2013
21055029@unknown@formal@none@1@S@Other stocks were affected by corporate earnings.@@@@1@7@@oe@2-2-2013
21055030@unknown@formal@none@1@S@Informix, which recently said third-quarter net income rose to 16 cents a share from a penny a share a year ago, gained 1 5/8 to 13 5/8 on 810,700 shares.@@@@1@30@@oe@2-2-2013
21055031@unknown@formal@none@1@S@The 1988 results included a one-time gain.@@@@1@7@@oe@2-2-2013
21055032@unknown@formal@none@1@S@Cimflex Teknowledge rose 13/16, or 39%, to 2 7/8 on volume of 494,100 shares.@@@@1@14@@oe@2-2-2013
21055033@unknown@formal@none@1@S@The maker of software products and services, which had a net loss in the 1988 third quarter, earned 200,000, or a penny a share, in this year's quarter.@@@@1@28@@oe@2-2-2013
21055034@unknown@formal@none@1@S@It was Nasdaq's biggest percentage gainer.@@@@1@6@@oe@2-2-2013
21055035@unknown@formal@none@1@S@Star States plunged 3 1/4 to 8 3/4 on 207,000 shares.@@@@1@11@@oe@2-2-2013
21055036@unknown@formal@none@1@S@The company suffered a $9 million loss in the third quarter, compared with net of $2.5 million a year earlier.@@@@1@20@@oe@2-2-2013
21055037@unknown@formal@none@1@S@Collagen dropped 2 5/8 to 15 5/8 on 428,000 shares.@@@@1@10@@oe@2-2-2013
21055038@unknown@formal@none@1@S@In its fiscal-first quarter ended Sept. 30, the biomedical-products maker earned 10 cents a share, up from eight cents a share in the 1988 quarter, which included an extraordinary credit.@@@@1@30@@oe@2-2-2013
21055039@unknown@formal@none@1@S@Occupational-Urgent Care Health fell 1 3/4 to 15 1/2 on 354,000 shares.@@@@1@12@@oe@2-2-2013
21055040@unknown@formal@none@1@S@The company's third-quarter earnings also rose to 10 cents a share from eight cents a share a year ago.@@@@1@19@@oe@2-2-2013
21056001@unknown@formal@none@1@S@Companies listed below reported quarterly profit substantially different from the average of analysts' estimates.@@@@1@14@@oe@2-2-2013
21056002@unknown@formal@none@1@S@The companies are followed by at least three analysts, and had a minimum five-cent change in actual earnings per share.@@@@1@20@@oe@2-2-2013
21056003@unknown@formal@none@1@S@Estimated and actual results involving losses are omitted.@@@@1@8@@oe@2-2-2013
21056004@unknown@formal@none@1@S@The percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past 30 days.@@@@1@23@@oe@2-2-2013
21056005@unknown@formal@none@1@S@Otherwise, actual profit is compared with the 300-day estimate.@@@@1@9@@oe@2-2-2013
21057001@unknown@formal@none@1@S@One day last March, CBS Sports President Neal Pilson and Olympics superagent Barry Frank met for lunch at the Lotos Club here.@@@@1@22@@oe@2-2-2013
21057002@unknown@formal@none@1@S@Mr. Frank told Mr. Pilson that Olympics officials wanted $290 million or more for TV rights to the 1994 Winter Games in Norway.@@@@1@23@@oe@2-2-2013
21057003@unknown@formal@none@1@S@The CBS official said that price sounded fine.@@@@1@8@@oe@2-2-2013
21057004@unknown@formal@none@1@S@At that price, CBS was the only player at the table when negotiations with the International Olympic Committee started in Toronto Aug. 23.@@@@1@23@@oe@2-2-2013
21057005@unknown@formal@none@1@S@Dick Pound, a committee member, began by disclosing that ABC and NBC had refused to even bid.@@@@1@17@@oe@2-2-2013
21057006@unknown@formal@none@1@S@Then, he asked Mr. Pilson to raise his offer anyway: "If we can have a number that starts with a three, you can have a dea."@@@@1@26@@oe@2-2-2013
21057007@unknown@formal@none@1@S@Mr. Pilson and his team huddled in a hallway and took just 10 minutes to return with a $300 million offer.@@@@1@21@@oe@2-2-2013
21057008@unknown@formal@none@1@S@Mr. Pound responded, "It's a deal."@@@@1@6@@oe@2-2-2013
21057009@unknown@formal@none@1@S@A beaming Mr. Pilson announced his lastest coup at a news conference that afternoon.@@@@1@14@@oe@2-2-2013
21057010@unknown@formal@none@1@S@Mr. Pilson's rivals at ABC and NBC grimaced at the price.@@@@1@11@@oe@2-2-2013
21057011@unknown@formal@none@1@S@How could CBS get pushed into outbidding itself?@@@@1@8@@oe@2-2-2013
21057012@unknown@formal@none@1@S@Well, CBS, mired in the ratings cellar and looking to sports as a way out, wanted to close the deal immediately and block its rivals from getting another chance to bid.@@@@1@31@@oe@2-2-2013
21057013@unknown@formal@none@1@S@But Mr. Pilson has been put in the uncomfortable role of setting off a bidding frenzy for sports rights, a frenzy that the networks had hoped to avoid.@@@@1@28@@oe@2-2-2013
21057014@unknown@formal@none@1@S@"The price of poker has gone up," crows Charles M. Neinas, the College Football Association's executive director.@@@@1@17@@oe@2-2-2013
21057015@unknown@formal@none@1@S@With CBS Inc. on a spending spree that may top $2.5 billion for four years of major sports events, the new bout of hyperinflation could jolt the entire broadcast business.@@@@1@30@@oe@2-2-2013
21057016@unknown@formal@none@1@S@CBS itself could run up losses of a few hundred million dollars on four years of various sports if its big gamble goes wrong.@@@@1@24@@oe@2-2-2013
21057017@unknown@formal@none@1@S@ABC, a unit of Capital Cities/ABC Inc., and General Electric Co.'s National Broadcasting Co. also risk losses if they outbid CBS for other contracts.@@@@1@24@@oe@2-2-2013
21057018@unknown@formal@none@1@S@While rights fees head skyward, ad rates won't.@@@@1@8@@oe@2-2-2013
21057019@unknown@formal@none@1@S@Advertisers already are balking at higher prices.@@@@1@7@@oe@2-2-2013
21057020@unknown@formal@none@1@S@"The networks are paying too much for rights," warns adman Paul Isacsson of Young & Rubicam.@@@@1@16@@oe@2-2-2013
21057021@unknown@formal@none@1@S@"If they ask advertisers to absorb the costs, they're likely to lose all but a few who need sports, above all."@@@@1@21@@oe@2-2-2013
21057022@unknown@formal@none@1@S@Viewers may not be cheering, either.@@@@1@6@@oe@2-2-2013
21057023@unknown@formal@none@1@S@Soaring rights fees will lead to an even greater clutter of commercials.@@@@1@12@@oe@2-2-2013
21057024@unknown@formal@none@1@S@At the same time, some sports events will move off "free" television and onto cable or pay-cable, where half the nation's TV homes can't see them.@@@@1@26@@oe@2-2-2013
21057025@unknown@formal@none@1@S@CBS has changed the rules by throwing out the old basis for sports bids -- that is, can the network alone make a profit on it?@@@@1@26@@oe@2-2-2013
21057026@unknown@formal@none@1@S@Mr. Pilson emphasizes the ancillary benefits of positive press, contented affiliate stations, enthusiastic advertisers and huge audiences that might stick around to watch other CBS programs when the game is over.@@@@1@31@@oe@2-2-2013
21057027@unknown@formal@none@1@S@The billion-dollar question is, How much are those benefits worth?@@@@1@10@@oe@2-2-2013
21057028@unknown@formal@none@1@S@Some TV people doubt they will materialize and argue that even if they do, they won't offset the multimillion-dollar deficits that CBS could run up.@@@@1@25@@oe@2-2-2013
21057029@unknown@formal@none@1@S@"As we've seen in the '80s," says Roger Werner, the president of the ESPN sports channel, "those deals can turn sour if the numbers don't work.@@@@1@26@@oe@2-2-2013
21057030@unknown@formal@none@1@S@And three years later, in a sea of red ink, the heroes can find themselves with a lot of explaining to do."@@@@1@22@@oe@2-2-2013
21057031@unknown@formal@none@1@S@CBS pursues top sports "to belie the fact that they aren't supporting affiliates, viewers and advertisers," charges Thomas H. Wyman, who was ousted as chairman of CBS Inc. after Laurence A. Tisch bought a 24.9% stake in the company and took over three years ago.@@@@1@45@@oe@2-2-2013
21057032@unknown@formal@none@1@S@"They lost the entertainment crown, and they needed one.@@@@1@9@@oe@2-2-2013
21057033@unknown@formal@none@1@S@And they've bought one."@@@@1@4@@oe@2-2-2013
21057034@unknown@formal@none@1@S@On just three big deals -- for four years of baseball and for the Olympic Winter Games in both 1992 and 1994 -- Pilson bid a total of $1.64 billion.@@@@1@30@@oe@2-2-2013
21057035@unknown@formal@none@1@S@That's well over half a billion dollars more than ABC and NBC were willing to pay.@@@@1@16@@oe@2-2-2013
21057036@unknown@formal@none@1@S@(After 1992, the winter and summer Olympics will be held two years apart, with the revised schedule beginning with the winter games in 1994 and the summer games in 1996.)@@@@1@30@@oe@2-2-2013
21057037@unknown@formal@none@1@S@Now, Mr. Pilson -- a former college basketball player who says a good negotiator needs "a level offocus and intellectual attention" similar to a good athlete-s is facing the consequences of his own aggressiveness.@@@@1@34@@oe@2-2-2013
21057038@unknown@formal@none@1@S@Next month, talks will begin on two coveted CBS contracts, for the pro and college basketball finals.@@@@1@17@@oe@2-2-2013
21057039@unknown@formal@none@1@S@CBS is likely to spend whatever it takes to keep them.@@@@1@11@@oe@2-2-2013
21057040@unknown@formal@none@1@S@The potential bill: more than $600 million for several seasons, an 80% jump.@@@@1@13@@oe@2-2-2013
21057041@unknown@formal@none@1@S@A few months later, CBS's college and pro football contracts come up for renewal; they could go for close to $100 million more than CBS now pays, a 40% to 50% rise.@@@@1@32@@oe@2-2-2013
21057042@unknown@formal@none@1@S@"What happens to those two basketball contracts will shape the next five years of network sports," says Peter Lund, a former CBS Sports president now at Multimedia Inc.@@@@1@28@@oe@2-2-2013
21057043@unknown@formal@none@1@S@J. William Grimes, former president of ESPN, says NBC may "come in with a huge bid for college basketball to take it away from CBS and say, 'We can overbid, too.'@@@@1@31@@oe@2-2-2013
21057044@unknown@formal@none@1@S@And the winners will be the colleges, not either network.@@@@1@10@@oe@2-2-2013
21057045@unknown@formal@none@1@S@Nor, by the way, advertisers."@@@@1@5@@oe@2-2-2013
21057046@unknown@formal@none@1@S@Mr. Pilson is an unlikely big spender.@@@@1@7@@oe@2-2-2013
21057047@unknown@formal@none@1@S@In the mid-1980s, after ABC had just bid a record $309 million for the 1988 Winter Games, he sniped at rivals for paying reckless prices.@@@@1@25@@oe@2-2-2013
21057048@unknown@formal@none@1@S@"I love Pilson, but he was the guy who complained most bitterly and loudly," says Robert Wussler, a former CBS Sports president.@@@@1@22@@oe@2-2-2013
21057049@unknown@formal@none@1@S@"And yet his company is one reason why rights are so high today."@@@@1@13@@oe@2-2-2013
21057050@unknown@formal@none@1@S@Rivals carp at "the principle of Pilson," as NBC's Arthur Watson once put it -- "he's always expounding that rights are too high, then he's going crazy."@@@@1@27@@oe@2-2-2013
21057051@unknown@formal@none@1@S@But the 49-year-old Mr. Pilson is hardly a man to ignore the numbers.@@@@1@13@@oe@2-2-2013
21057052@unknown@formal@none@1@S@A Yale law school graduate, he began his career in corporate law and then put in years at Metromedia Inc. and the William Morris talent agency.@@@@1@26@@oe@2-2-2013
21057053@unknown@formal@none@1@S@In 1976, he joined CBS Sports to head business affairs and, five years later, became its president.@@@@1@17@@oe@2-2-2013
21057054@unknown@formal@none@1@S@Mr. Pilson says that when he spoke out a few years ago, "I didn't say forever, and I didn't say every property."@@@@1@22@@oe@2-2-2013
21057055@unknown@formal@none@1@S@The market changed, he adds.@@@@1@5@@oe@2-2-2013
21057056@unknown@formal@none@1@S@And he isn't the only big spender: NBC will pay a record $401 million for the 1992 Summer Games, and ESPN, 80%-owned by Capital Cities/ABC, will shell out $400 million for four years of baseball, airing 175 regular-season games a year.@@@@1@41@@oe@2-2-2013
21057057@unknown@formal@none@1@S@"Our competitors say we overbid them.@@@@1@6@@oe@2-2-2013
21057058@unknown@formal@none@1@S@Who cares?@@@@1@2@@oe@2-2-2013
21057059@unknown@formal@none@1@S@Maybe we recognize values the other guys don't," Mr. Pilson says.@@@@1@11@@oe@2-2-2013
21057060@unknown@formal@none@1@S@Mr. Pilson's "Major Events" strategy jelled after Mr. Tisch took over.@@@@1@11@@oe@2-2-2013
21057061@unknown@formal@none@1@S@Mr. Pilson recalls that in April 1986, after CBS's annual meeting in Philadelphia, he and Mr. Tisch took the 90-minute train ride back to New York, and Mr. Pilson used this extended private audience to outline his ambitions.@@@@1@38@@oe@2-2-2013
21057062@unknown@formal@none@1@S@Mr. Tisch, a billionaire in hotels and finance, was just learning the TV business.@@@@1@14@@oe@2-2-2013
21057063@unknown@formal@none@1@S@Five months later, Mr. Tisch took over as CBS's chief executive, and soon he was wielding sole approval each time Mr. Pilson scribbled a frighteningly large figure on a slip of paper, sealed it in an envelope and gave it to sports negotiators.@@@@1@43@@oe@2-2-2013
21057064@unknown@formal@none@1@S@Then, in May 1988, Mr. Tisch urgently needed to make a bold statement to quell rumors that he might sell the network.@@@@1@22@@oe@2-2-2013
21057065@unknown@formal@none@1@S@Mr. Pilson gave him one: He bid $243 million for rights to the 1992 Winter Games in Albertville, France; ABC and NBC wouldn't bid even $200 million.@@@@1@27@@oe@2-2-2013
21057066@unknown@formal@none@1@S@That started the still-raging bidding wars.@@@@1@6@@oe@2-2-2013
21057067@unknown@formal@none@1@S@The "Major Events" strategy, Mr. Pilson says, is designed to notch a place for CBS on the crowded TV dial of the 1990s.@@@@1@23@@oe@2-2-2013
21057068@unknown@formal@none@1@S@It's also a fast fix for an ailing image.@@@@1@9@@oe@2-2-2013
21057069@unknown@formal@none@1@S@He sees flashy sports as the only way the last-place network can cut through the clutter of cable and VCRs, grab millions of new viewers and tell them about other shows premiering a few weeks later.@@@@1@36@@oe@2-2-2013
21057070@unknown@formal@none@1@S@Next October, CBS, for the first time, won't have to start the season against the much-watched American and National baseball league championships and the World Series.@@@@1@26@@oe@2-2-2013
21057071@unknown@formal@none@1@S@"I've been struggling against that for years," says Jonathan Rodgers, who runs WBBM-TV, the CBS-owned station in Chicago.@@@@1@18@@oe@2-2-2013
21057072@unknown@formal@none@1@S@Even if baseball triggers losses at CBS -- and he doesn't think it will -- "I'd rather see the games on our air than on NBC and ABC," he says.@@@@1@30@@oe@2-2-2013
21057073@unknown@formal@none@1@S@That isn't surprising.@@@@1@3@@oe@2-2-2013
21057074@unknown@formal@none@1@S@Regular TV series ratings have slumped in the past five years, and premiering new shows is "a crap shoot," Mr. Pilson says.@@@@1@22@@oe@2-2-2013
21057075@unknown@formal@none@1@S@But top sports events are still a strong bet to lure audiences 30% or 40% larger than those CBS usually gets.@@@@1@21@@oe@2-2-2013
21057076@unknown@formal@none@1@S@Mr. Pilson says baseball and the Olympics may help CBS move up to No. 2 in the household ratings race, putting pizazz back into the network's image.@@@@1@27@@oe@2-2-2013
21057077@unknown@formal@none@1@S@And the Winter Olympics will air during the February "sweeps," when ratings are used to set ad rates for local stations.@@@@1@21@@oe@2-2-2013
21057078@unknown@formal@none@1@S@That will please once-grumpy affiliates -- another aim of the Pilson plan.@@@@1@12@@oe@2-2-2013
21057079@unknown@formal@none@1@S@They gleefully await the "dream season" in 1990.@@@@1@8@@oe@2-2-2013
21057080@unknown@formal@none@1@S@CBS will air the Super Bowl, baseball playoffs, college and pro basketball finals and other premier sports events.@@@@1@18@@oe@2-2-2013
21057081@unknown@formal@none@1@S@"It's made me more committed to CBS," says Philip A. Jones, the president of Meredith Corp.'s broadcast group, which has two CBS affiliates.@@@@1@23@@oe@2-2-2013
21057082@unknown@formal@none@1@S@The CBS plan to use big-time sports as a platform for other series carries no guarantee of success, however.@@@@1@19@@oe@2-2-2013
21057083@unknown@formal@none@1@S@No amount of hype will bring viewers back if the shows are weak.@@@@1@13@@oe@2-2-2013
21057084@unknown@formal@none@1@S@"In this market of 40 channels, sophisticated viewers and the remote control, trial isn't a guarantee of anything," ESPN's Mr. Werner says.@@@@1@22@@oe@2-2-2013
21057085@unknown@formal@none@1@S@"If the show ain't a killer, they're gone."@@@@1@8@@oe@2-2-2013
21057086@unknown@formal@none@1@S@During the 1984 Summer Games, for example, ABC touted "Call to Glory," but the military drama was missing in action within weeks.@@@@1@22@@oe@2-2-2013
21057087@unknown@formal@none@1@S@Last October, during the 1988 Summer Games, NBC relentlessly pitched a new series, "Tattingers."@@@@1@14@@oe@2-2-2013
21057088@unknown@formal@none@1@S@It belly-flopped anyway.@@@@1@3@@oe@2-2-2013
21057089@unknown@formal@none@1@S@Moreover, sports is hardly the best way to lure adult women.@@@@1@11@@oe@2-2-2013
21057090@unknown@formal@none@1@S@Though CBS might move up to No. 2 in household ratings, most advertisers buy based on ratings for women aged 18 to 49.@@@@1@23@@oe@2-2-2013
21057091@unknown@formal@none@1@S@CBS may remain a distant No. 3 in that regard.@@@@1@10@@oe@2-2-2013
21057092@unknown@formal@none@1@S@Nor is CBS a shoo-in to get blockbuster ratings.@@@@1@9@@oe@2-2-2013
21057093@unknown@formal@none@1@S@In recent years, the World Series and the Olympics were aired against CBS's last-place lineup.@@@@1@15@@oe@2-2-2013
21057094@unknown@formal@none@1@S@But CBS will put the athletes up against Bill Cosby, "Cheers" and other shows in NBC's No. 1 schedule.@@@@1@19@@oe@2-2-2013
21057095@unknown@formal@none@1@S@Even the boon to affiliate relations may be limited.@@@@1@9@@oe@2-2-2013
21057096@unknown@formal@none@1@S@The sports lineup may add only 1% to 5% to a station's annual profits.@@@@1@14@@oe@2-2-2013
21057097@unknown@formal@none@1@S@It alone isn't likely to stop a station from dumping CBS shows.@@@@1@12@@oe@2-2-2013
21057098@unknown@formal@none@1@S@"The World Series, seven nights, wasn't enough of an incentive," says Arnold Klinsky of WHEC-TV in Rochester, which dropped CBS for NBC six weeks ago.@@@@1@25@@oe@2-2-2013
21057099@unknown@formal@none@1@S@"You've got to judge where the network will be in three years."@@@@1@12@@oe@2-2-2013
21057100@unknown@formal@none@1@S@The intangible benefits may prove extremely costly if CBS can't avoid big losses on the sports coverage itself.@@@@1@18@@oe@2-2-2013
21057101@unknown@formal@none@1@S@And avoiding such losses will take a monumental effort.@@@@1@9@@oe@2-2-2013
21057102@unknown@formal@none@1@S@On the $1.06 billion baseball agreement alone, CBS is likely to lose $250 million in four years, contends Mr. Wussler, the former CBS man, now at Comsat Inc.@@@@1@28@@oe@2-2-2013
21057103@unknown@formal@none@1@S@Nevertheless, he deems the deal "plain smart" for its huge promotional value.@@@@1@12@@oe@2-2-2013
21057104@unknown@formal@none@1@S@Mr. Pilson calls that loss estimate "wildly inaccurate," conceding only that CBS will lose money on baseball in the first year.@@@@1@21@@oe@2-2-2013
21057105@unknown@formal@none@1@S@"It's too early to tell" what happens after that, he says.@@@@1@11@@oe@2-2-2013
21057106@unknown@formal@none@1@S@But Mr. Tisch expects losses in all four years of the contract, he told U.S. senators last June.@@@@1@18@@oe@2-2-2013
21057107@unknown@formal@none@1@S@CBS will pay an average of $82 million more each year than ABC and NBC had paid together -- and those two networks expect losses on baseball this season.@@@@1@29@@oe@2-2-2013
21057108@unknown@formal@none@1@S@Yet CBS will air only 12 regular-season games, 26 fewer than ABC and NBC.@@@@1@14@@oe@2-2-2013
21057109@unknown@formal@none@1@S@That has outraged some fans.@@@@1@5@@oe@2-2-2013
21057110@unknown@formal@none@1@S@It also indicates a $50 million drop in ad sales for regular-season games -- a risk CBS took to get an unprecedented lock on all playoff games.@@@@1@27@@oe@2-2-2013
21057111@unknown@formal@none@1@S@If the playoffs end in four-game sweeps, losses could soar.@@@@1@10@@oe@2-2-2013
21057112@unknown@formal@none@1@S@Advertisers are resisting higher prices, which would help close the gap.@@@@1@11@@oe@2-2-2013
21057113@unknown@formal@none@1@S@CBS signed General Motors and Toyota to be the only auto-maker sponsors in baseball for four years.@@@@1@17@@oe@2-2-2013
21057114@unknown@formal@none@1@S@Price: $265 million.@@@@1@3@@oe@2-2-2013
21057115@unknown@formal@none@1@S@But ad executives who negotiated the deal say that works out to only $275,000 for a 30-second ad in the World Series through 1993 -- 17% less than what ABC is charging for the Series this month.@@@@1@37@@oe@2-2-2013
21057116@unknown@formal@none@1@S@Moreover, "there's no question ad rates will come down considerably" from the GM-Toyota price, says Arnold Chase of Bozell Inc.@@@@1@20@@oe@2-2-2013
21057117@unknown@formal@none@1@S@Other admen, however, say rates could rise later if ad spending surges.@@@@1@12@@oe@2-2-2013
21057118@unknown@formal@none@1@S@The Winter Games outlook also is mixed.@@@@1@7@@oe@2-2-2013
21057119@unknown@formal@none@1@S@CBS expects to make modest profits, but rivals contend that it will take a beating.@@@@1@15@@oe@2-2-2013
21057120@unknown@formal@none@1@S@ABC lost $75 million on the 1988 Winter Games, partly because of its $309 million rights fee.@@@@1@17@@oe@2-2-2013
21057121@unknown@formal@none@1@S@It aired 94.5 hours of mostly live events in Calgary -- helping raise ratings slightly from 1984 -- but still failed to deliver the audience promised to advertisers.@@@@1@28@@oe@2-2-2013
21057122@unknown@formal@none@1@S@CBS will add 25 1/2 hours to that load in 1992, and ratings could be hurt by a lack of live events.@@@@1@22@@oe@2-2-2013
21057123@unknown@formal@none@1@S@All prime-time fare will be on tape-delay because of time differences with Norway, so the results can be announced on the 6 o'clock news.@@@@1@24@@oe@2-2-2013
21057124@unknown@formal@none@1@S@(Turner Broadcasting will pay CBS $25 million to air 50 hours of CBS coverage plus 50 hours of additional events.)@@@@1@20@@oe@2-2-2013
21057125@unknown@formal@none@1@S@Barry Frank, the agent who took Mr. Pilson to lunch last March, says that even if CBS loses, say, $10 million, it matters little.@@@@1@24@@oe@2-2-2013
21057126@unknown@formal@none@1@S@"Ten million ain't jack, man, when you got $3 billion sitting in the bank," says Mr. Frank, senior vice president at International Management Group, citing CBS's enormous cash reserves from selling off various businesses.@@@@1@34@@oe@2-2-2013
21057127@unknown@formal@none@1@S@"It doesn't mean anything -- it's public-relations money."@@@@1@8@@oe@2-2-2013
21057128@unknown@formal@none@1@S@Moreover, sports has "claimed its place" as a guaranteed ratings-getter, says David J. Stern, the commissioner of the National Basketball Association.@@@@1@21@@oe@2-2-2013
21057129@unknown@formal@none@1@S@"This isn't outlandish bidding; this is a situation of very careful businessmen making judgments about the worth of product and acting on it. . . .@@@@1@26@@oe@2-2-2013
21057130@unknown@formal@none@1@S@I would tend to trust their judgment."@@@@1@7@@oe@2-2-2013
21057131@unknown@formal@none@1@S@That's easy for him to say: CBS's four-year NBA pact, now at $176 million for four years, could double in price by the time his talks with Mr. Pilson are completed later this month.@@@@1@34@@oe@2-2-2013
21057132@unknown@formal@none@1@S@That would cut into CBS's slim margin for profit -- and error.@@@@1@12@@oe@2-2-2013
21057133@unknown@formal@none@1@S@CBS Sports earned $50 million or so last year.@@@@1@9@@oe@2-2-2013
21057134@unknown@formal@none@1@S@And CBS takes in the least money in prime time; ABC and NBC charge 30% to 35% more for ads, according to a Variety survey.@@@@1@25@@oe@2-2-2013
21057135@unknown@formal@none@1@S@But CBS's costs are huge, and the risks go up with each new sports package that CBS locks up.@@@@1@19@@oe@2-2-2013
21057136@unknown@formal@none@1@S@Although sports officials predict jumps of 50% to 100% in the major contracts coming up for renewal, ad rates may rise only 20%.@@@@1@23@@oe@2-2-2013
21057137@unknown@formal@none@1@S@CBS hopes to save money by ordering fewer episodes of regular series because sports will fill up a few weeks of prime time.@@@@1@23@@oe@2-2-2013
21057138@unknown@formal@none@1@S@But the savings will be minuscule.@@@@1@6@@oe@2-2-2013
21057139@unknown@formal@none@1@S@Each hour of Olympics and baseball in prime time will cost CBS $2.6 million to $2.8 million; an hour-long drama costs only $900,000, and it is aired twice.@@@@1@28@@oe@2-2-2013
21057140@unknown@formal@none@1@S@CBS may cushion losses with about $200 million a year in interest earned on the proceeds from selling CBS Records and other businesses.@@@@1@23@@oe@2-2-2013
21057141@unknown@formal@none@1@S@But media-stock analyst Richard J. MacDonald of MacDonald Grippo Riely says Wall Street won't take kindly to that.@@@@1@18@@oe@2-2-2013
21057142@unknown@formal@none@1@S@"On a stand-alone basis, the network ought to make money," he says.@@@@1@12@@oe@2-2-2013
21057143@unknown@formal@none@1@S@When Mr. Pilson is asked directly -- can you make money on all this? -- he doesn't exactly say yes.@@@@1@20@@oe@2-2-2013
21057144@unknown@formal@none@1@S@"What you're really asking is, Are the profit and loss margins anticipated on the events acceptable to management?" he says.@@@@1@20@@oe@2-2-2013
21057145@unknown@formal@none@1@S@Then, he answers his own question.@@@@1@6@@oe@2-2-2013
21057146@unknown@formal@none@1@S@"Yes, they are.@@@@1@3@@oe@2-2-2013
21057147@unknown@formal@none@1@S@That's the only question we need to address.@@@@1@8@@oe@2-2-2013
21058001@unknown@formal@none@1@S@Place a phone order through most any catalog and chances are the clerk who answers won't be the only one on the line.@@@@1@23@@oe@2-2-2013
21058002@unknown@formal@none@1@S@Bosses have big ears these days.@@@@1@6@@oe@2-2-2013
21058003@unknown@formal@none@1@S@Or open up an electronics magazine and peruse the ads for sneaky tape recorders and other snooping gadgets.@@@@1@18@@oe@2-2-2013
21058004@unknown@formal@none@1@S@Some would make even James Bond green with envy.@@@@1@9@@oe@2-2-2013
21058005@unknown@formal@none@1@S@Eavesdropping -- both corporate and private -- is on the rise, thanks to the proliferation of surveillance technologies.@@@@1@18@@oe@2-2-2013
21058006@unknown@formal@none@1@S@And while sellers of the equipment and companies "monitoring" employees have few qualms, right-to-privacy advocates and some lawmakers are alarmed.@@@@1@20@@oe@2-2-2013
21058007@unknown@formal@none@1@S@"New technologies are changing the way we deal with each other and the way we work," says Janlori Goldman, a staff attorney at the American Civil Liberties Union.@@@@1@28@@oe@2-2-2013
21058008@unknown@formal@none@1@S@"Our expectation of confidentiality is being eroded."@@@@1@7@@oe@2-2-2013
21058009@unknown@formal@none@1@S@On the corporate side, companies claim that monitoring employee phone conversations is both legal and necessary to gauge productivity and ensure good service.@@@@1@23@@oe@2-2-2013
21058010@unknown@formal@none@1@S@The practice is common at catalog, insurance and phone companies, banks and telemarketers, according to trade groups and worker organizations.@@@@1@20@@oe@2-2-2013
21058011@unknown@formal@none@1@S@It's also widespread for reservations clerks in the airline, car-rental, hotel and railroad industries.@@@@1@14@@oe@2-2-2013
21058012@unknown@formal@none@1@S@The Communications Workers of America, which opposes such monitoring, says supervisors listen in on an estimated 400 million calls each year.@@@@1@21@@oe@2-2-2013
21058013@unknown@formal@none@1@S@Among companies saying they monitor employees are United Airlines, American Airlines, United Parcel Service, Nynex Corp., Spiegel Inc., and the circulation department of this newspaper.@@@@1@25@@oe@2-2-2013
21058014@unknown@formal@none@1@S@Some Wall Street firms monitor for recordkeeping purposes.@@@@1@8@@oe@2-2-2013
21058015@unknown@formal@none@1@S@Dictaphone Corp. says there's a big business demand for its voice-activated taping systems, whether the sophisticated Veritrac 9000 system, which costs from $10,000 to $120,000 and can record 240 conversations simultaneously, or simple handheld units selling for $395.@@@@1@38@@oe@2-2-2013
21058016@unknown@formal@none@1@S@Businesses "want to verify information and ensure accuracy," says John Hiltunen, Dictaphone's manager of media relations.@@@@1@16@@oe@2-2-2013
21058017@unknown@formal@none@1@S@The state of Alaska recently bought the Veritrac system, he says, "to monitor the Exxon cleanup effort."@@@@1@17@@oe@2-2-2013
21058018@unknown@formal@none@1@S@Merrill Lynch & Co. and Shearson Lehman Hutton Inc. say they use voice-activated systems to record and verify orders between salesmen and traders.@@@@1@23@@oe@2-2-2013
21058019@unknown@formal@none@1@S@Shearson says it has taped some of its institutional trading desks, such as commodities and futures, for about four years.@@@@1@20@@oe@2-2-2013
21058020@unknown@formal@none@1@S@Both companies stress that employees know they are being recorded and that customer conversations aren't taped.@@@@1@16@@oe@2-2-2013
21058021@unknown@formal@none@1@S@Kidder Peabody & Co. says it monitors bond-trading conversations between brokers and customers to safeguard order accuracy.@@@@1@17@@oe@2-2-2013
21058022@unknown@formal@none@1@S@Eavesdropping by individuals is harder to measure.@@@@1@7@@oe@2-2-2013
21058023@unknown@formal@none@1@S@But devices are there for the asking, whether in stores or through the mail.@@@@1@14@@oe@2-2-2013
21058024@unknown@formal@none@1@S@The Counter Spy Shop in Washington, D.C., for instance, offers the "Secret Connection" attache case, which can surreptitiously record conversations for nine hours at a stretch.@@@@1@26@@oe@2-2-2013
21058025@unknown@formal@none@1@S@That and other fancy gizmos may cost thousands, but simple voice-activated tape recorders sell for as little as $70 at electronics stores like Radio Shack.@@@@1@25@@oe@2-2-2013
21058026@unknown@formal@none@1@S@The most common use of spying devices is in divorce cases, say private investigators.@@@@1@14@@oe@2-2-2013
21058027@unknown@formal@none@1@S@While tape recordings to uncover, say, infidelity aren't admissible in court, they can mean leverage in a settlement.@@@@1@18@@oe@2-2-2013
21058028@unknown@formal@none@1@S@Concerned with the increased availability of surveillance technology and heavier use of it, lawmakers have proposed laws addressing the issue.@@@@1@20@@oe@2-2-2013
21058029@unknown@formal@none@1@S@Nine states have introduced bills requiring that workers and customers be made aware of monitoring.@@@@1@15@@oe@2-2-2013
21058030@unknown@formal@none@1@S@And four states -- California, Florida, Michigan and Pennsylvania -- have adopted rules that all parties involved must consent when phone calls are recorded.@@@@1@24@@oe@2-2-2013
21058031@unknown@formal@none@1@S@Two bills in Congress hope to make such restrictions national.@@@@1@10@@oe@2-2-2013
21058032@unknown@formal@none@1@S@In May, Rep. Don Edwards (D. Calif.) introduced congressional legislation that would require an audible beeping during any employee monitoring, warning people that they are being heard.@@@@1@27@@oe@2-2-2013
21058033@unknown@formal@none@1@S@(The legislation is similar to a 1987 "beeper bill" that was defeated after heavy lobbying by the telemarketing industry.)@@@@1@19@@oe@2-2-2013
21058034@unknown@formal@none@1@S@Also last spring, Rep. Ron Dellums (D., Calif.), introduced a bill requiring universal two-party consent to any tapings in cases that don't involve law enforcement.@@@@1@25@@oe@2-2-2013
21058035@unknown@formal@none@1@S@In addition, products such as voice-activated tape recorders would have to include beep tones and labels explaining federal laws on eavesdropping.@@@@1@21@@oe@2-2-2013
21058036@unknown@formal@none@1@S@The outlook on both federal bills is uncertain, especially remembering the 1987 defeat.@@@@1@13@@oe@2-2-2013
21058037@unknown@formal@none@1@S@The ACLU and worker organizations back tighter laws, but employers and device manufacturers object.@@@@1@14@@oe@2-2-2013
21058038@unknown@formal@none@1@S@"I'm sympathetic with workers who feel under the gun," says Richard Barton of the Direct Marketing Association of America, which is lobbying strenuously against the Edwards beeper bill.@@@@1@28@@oe@2-2-2013
21058039@unknown@formal@none@1@S@"But the only way you can find out how your people are doing is by listening."@@@@1@16@@oe@2-2-2013
21058040@unknown@formal@none@1@S@The powerful group, which represents many of the nation's telemarketers, was instrumental in derailing the 1987 bill.@@@@1@17@@oe@2-2-2013
21058041@unknown@formal@none@1@S@Spiegel also opposes the beeper bill, saying the noise it requires would interfere with customer orders, causing irritation and even errors.@@@@1@21@@oe@2-2-2013
21058042@unknown@formal@none@1@S@Laura Dale, center manager at the catalog company's customer order center in Reno, Nev., defends monitoring.@@@@1@16@@oe@2-2-2013
21058043@unknown@formal@none@1@S@"We like to follow up and make sure operators are achieving our standards of company service," says Ms. Dale, who supervises 350 operators.@@@@1@23@@oe@2-2-2013
21058044@unknown@formal@none@1@S@John Bonomo, a Nynex spokesman, says the telephone company needs to monitor operators to evaluate performance during the first six months on the job.@@@@1@24@@oe@2-2-2013
21058045@unknown@formal@none@1@S@"Sometimes," he says, "we'll pull someone off the phones for more training."@@@@1@12@@oe@2-2-2013
21058046@unknown@formal@none@1@S@Federal wiretap statutes recognize the right of employers to monitor employees' for evaluation purposes.@@@@1@14@@oe@2-2-2013
21058047@unknown@formal@none@1@S@And in the past, Congress has viewed monitoring as an issue best handled in union negotiations.@@@@1@16@@oe@2-2-2013
21058048@unknown@formal@none@1@S@But opponents, led by the CWA, say new laws are needed because monitoring is heavily concentrated in service industries and 81% of monitored workers aren't represented by unions.@@@@1@28@@oe@2-2-2013
21058049@unknown@formal@none@1@S@The CWA claims that monitoring not only infringes on employee privacy, but increases stress.@@@@1@14@@oe@2-2-2013
21058050@unknown@formal@none@1@S@"Nine to Five," a Cleveland-based office workers organization that supports the beeper bill, six months ago started a privacy hot line to receive reports of alleged monitoring abuses.@@@@1@28@@oe@2-2-2013
21058051@unknown@formal@none@1@S@Meanwhile, supporters of the Dellums two-party consent bill say it is needed because of a giant loophole in the one-party consent law.@@@@1@22@@oe@2-2-2013
21058052@unknown@formal@none@1@S@Currently, if the person taping is a party to the conversation, it's all right to record without the knowledge of the other person on the line.@@@@1@26@@oe@2-2-2013
21058053@unknown@formal@none@1@S@(Intercepting other people's private conversations is illegal and punishable by five years in prison and fines of $10,000.)@@@@1@18@@oe@2-2-2013
21058054@unknown@formal@none@1@S@The electronics industry is closely following the Dellums bill.@@@@1@9@@oe@2-2-2013
21058055@unknown@formal@none@1@S@Some marketers of surveillance gear -- including Communication Control System Ltd., which owns the Counter Spy Shop and others like it -- already put warning labels in their catalogs informing customers of the one-party law.@@@@1@35@@oe@2-2-2013
21058056@unknown@formal@none@1@S@But vendors contend that they can't control how their products are used.@@@@1@12@@oe@2-2-2013
21058057@unknown@formal@none@1@S@Radio Shack says it has a policy against selling products if a salesperson suspects they will be used illegally.@@@@1@19@@oe@2-2-2013
21058058@unknown@formal@none@1@S@"Everything sold at Radio Shack has a legal purpose," says Bernard Appel, president of the Tandy Corp. subsidiary.@@@@1@18@@oe@2-2-2013
21058059@unknown@formal@none@1@S@He says he hasn't yet studied the Dellums bill, but that requiring a beeping tone on recorders "would be ludicrous."@@@@1@20@@oe@2-2-2013
21058060@unknown@formal@none@1@S@Still, Radio Shack is aware that some of its products are controversial.@@@@1@12@@oe@2-2-2013
21058061@unknown@formal@none@1@S@A few years ago, the company voluntarily stopped selling "The Big Ear," a powerful microphone.@@@@1@15@@oe@2-2-2013
21058062@unknown@formal@none@1@S@With its ability to pick up rustlings and flapping wings, "it was meant to be a toy for children for bird watching," says Mr. Appel.@@@@1@25@@oe@2-2-2013
21058063@unknown@formal@none@1@S@"But we were getting too many complaints that people were using them to eavesdrop on their neighbors."@@@@1@17@@oe@2-2-2013
21059001@unknown@formal@none@1@S@The hottest rivalry in the computer industry intensified sharply yesterday as Digital Equipment Corp. announced its first line of mainframe computers, targeting International Business Machines Corp.'s largest market.@@@@1@28@@oe@2-2-2013
21059002@unknown@formal@none@1@S@IBM fired back with new mainframes of its own, extending the long-dominant 3090 line with a 7% to 14% power boost.@@@@1@21@@oe@2-2-2013
21059003@unknown@formal@none@1@S@Up to now, the intense competition between IBM and Digital has been confined largely to the broad midrange of the computer market, where Digital sought to exploit IBM's weaknesses in networking.@@@@1@31@@oe@2-2-2013
21059004@unknown@formal@none@1@S@But Digital's move into mainframes will target IBM's home turf, where it has a commanding 70% share of the market.@@@@1@20@@oe@2-2-2013
21059005@unknown@formal@none@1@S@Digital, Maynard, Mass., insisted yesterday that its marketing focus would differ sharply from IBM's.@@@@1@14@@oe@2-2-2013
21059006@unknown@formal@none@1@S@"This is not your father's mainframe," said Allan McGuire, a Digital spokesman.@@@@1@12@@oe@2-2-2013
21059007@unknown@formal@none@1@S@"It's a whole new generation," he said.@@@@1@7@@oe@2-2-2013
21059008@unknown@formal@none@1@S@IBM, which gets about half its revenue and more than half its profit from mainframes, also announced upgraded operating system software that, together with the new hardware, lets customers do so-called batch processing as much as 60% faster.@@@@1@38@@oe@2-2-2013
21059009@unknown@formal@none@1@S@Batch processing is the high-volume, single-job data processing that most mainframes typically chug through at night, such as updating accounts at banks.@@@@1@22@@oe@2-2-2013
21059010@unknown@formal@none@1@S@IBM said the 16 new J and JH models will generally be available immediately, though three won't ship until the third quarter of next year.@@@@1@25@@oe@2-2-2013
21059011@unknown@formal@none@1@S@Prices on the larger models, which range as high as $13 million, generally won't change.@@@@1@15@@oe@2-2-2013
21059012@unknown@formal@none@1@S@Small models, whose performance increased as much as 46%, will carry higher prices.@@@@1@13@@oe@2-2-2013
21059013@unknown@formal@none@1@S@Upgrades to bigger models also will be costlier.@@@@1@8@@oe@2-2-2013
21059014@unknown@formal@none@1@S@Digital's VAX 9000 mainframes, which it claimed were among the fastest available, were priced from $1.2 million to $3.9 million, sharply lower than IBM models of comparable power.@@@@1@28@@oe@2-2-2013
21059015@unknown@formal@none@1@S@The first models will ship in the spring, with the largest following in the fall.@@@@1@15@@oe@2-2-2013
21059016@unknown@formal@none@1@S@Analysts were disappointed that Digital's new line apparently won't contribute much to earnings before the next fiscal year, which begins in July.@@@@1@22@@oe@2-2-2013
21059017@unknown@formal@none@1@S@Jay Stevens of Dean Witter Reynolds Inc. said he may cut his earnings estimate for the current fiscal year because he had expected at least some mainframe profit this year.@@@@1@30@@oe@2-2-2013
21059018@unknown@formal@none@1@S@But he added that he expected to raise his estimate for fiscal 1991 at the same time.@@@@1@17@@oe@2-2-2013
21059019@unknown@formal@none@1@S@After the announcement yesterday, Digital shares gained $1.25 to close at $89.875 in New York Stock Exchange composite trading.@@@@1@19@@oe@2-2-2013
21059020@unknown@formal@none@1@S@IBM shares closed at $103, down 50 cents, in Big Board trading.@@@@1@12@@oe@2-2-2013
21059021@unknown@formal@none@1@S@Analysts have predicted strong pent-up demand for the new line among Digital's customers.@@@@1@13@@oe@2-2-2013
21059022@unknown@formal@none@1@S@Large Digital buyers say the new VAX will let them stay with Digital when they need the power of a mainframe, instead of turning to IBM.@@@@1@26@@oe@2-2-2013
21059023@unknown@formal@none@1@S@"I'm convinced there's a huge market for this machine," said Stephen Smith of PaineWebber Inc.@@@@1@15@@oe@2-2-2013
21059024@unknown@formal@none@1@S@Digital also plans to compete fiercely with IBM when the giant's customers are computerizing new aspects of their businesses.@@@@1@19@@oe@2-2-2013
21059025@unknown@formal@none@1@S@Digital, however, doesn't expect to displace IBM mainframes that are already installed at big companies.@@@@1@15@@oe@2-2-2013
21059026@unknown@formal@none@1@S@In addition to commercial markets, Digital's new line targets the low end of the engineering and scientific supercomputer market, when it's packaged with an optional supercharger, known as a vector processor.@@@@1@31@@oe@2-2-2013
21059027@unknown@formal@none@1@S@Digital's push into mainframes comes at a time when its mainstay minicomputer line is under growing pressure from smaller personal computers and workstations that operate on standard operating systems rather than on the proprietary systems that older minicomputers use.@@@@1@39@@oe@2-2-2013
21059028@unknown@formal@none@1@S@Although Digital has staked out a major presence in the booming workstation market, profit margins in that market are much slimmer than for mainframes.@@@@1@24@@oe@2-2-2013
21059029@unknown@formal@none@1@S@The slow-growing mainframe market also has shown new signs of life lately.@@@@1@12@@oe@2-2-2013
21059030@unknown@formal@none@1@S@IBM's mainframe sales have held up better than expected this year, with analysts estimating they have risen 10% to 12%.@@@@1@20@@oe@2-2-2013
21059031@unknown@formal@none@1@S@"Demand for these systems has been very, very strong," said Bill Grabe, a senior IBM marketing executive.@@@@1@17@@oe@2-2-2013
21059032@unknown@formal@none@1@S@"We have a good strong backlog for the fourth quarter even without" the systems that were announced yesterday.@@@@1@18@@oe@2-2-2013
21059033@unknown@formal@none@1@S@But the 3090 line is nearly five years old -- which is getting up there in mainframe years -- and its growth is expected to slow in 1990.@@@@1@28@@oe@2-2-2013
21059034@unknown@formal@none@1@S@IBM, Armonk, N.Y., said it wanted to bring out the mainframes as soon as it could to spark as many sales as possible by the end of the year.@@@@1@29@@oe@2-2-2013
21059035@unknown@formal@none@1@S@The fourth quarter is always IBM's biggest by far, with most sales coming in December as customers seek to use budgets before year end.@@@@1@24@@oe@2-2-2013
21059036@unknown@formal@none@1@S@Still, Steve Cohen, an analyst at SoundView Financial Group Inc., said, "I don't see that this will be sufficient to give IBM a significant kick in the fourth quarter."@@@@1@29@@oe@2-2-2013
21059037@unknown@formal@none@1@S@IBM has already indicated it will have problems in the quarter, partly because of a delay in shipping a high-end disk drive and partly because the strong dollar will cut significantly the value of IBM's overseas earnings when translated into dollars.@@@@1@41@@oe@2-2-2013
21059038@unknown@formal@none@1@S@Some analysts have estimated IBM's fourth-quarter per-share earnings will fall 10% to $3.57 a share from $3.97 a share a year earlier.@@@@1@22@@oe@2-2-2013
21059039@unknown@formal@none@1@S@In addition to the new mainframe hardware and software, IBM announced a magnetic-tape system for data storage that it said occupies half as much floor space as older systems but can store five times as much data on a single cartridge.@@@@1@41@@oe@2-2-2013
21059040@unknown@formal@none@1@S@That should help IBM address the damage that a resurgent Storage Technology Corp. has inflicted in that market.@@@@1@18@@oe@2-2-2013
21060001@unknown@formal@none@1@S@Concord Camera Corp. completed the acquisition of Peter Bauser G.m.b.H., a West German photographic products distributor.@@@@1@16@@oe@2-2-2013
21060002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21060003@unknown@formal@none@1@S@Concord is a camera and photographic products company.@@@@1@8@@oe@2-2-2013
21061001@unknown@formal@none@1@S@The Navy awarded Litton Industries Inc.'s Ingalls Shipbuilding division $15.5 million for shipyard services on the Aegis cruiser program.@@@@1@19@@oe@2-2-2013
21061002@unknown@formal@none@1@S@The award exercises a Navy option to extend a contract given in 1984.@@@@1@13@@oe@2-2-2013
21062001@unknown@formal@none@1@S@The White House called on Congress to attach the proposed capital-gains tax cut to its final deficit-reduction bill, but lawmakers seem likely to balk at the idea.@@@@1@27@@oe@2-2-2013
21062002@unknown@formal@none@1@S@Earlier this month, the White House endorsed stripping the controversial tax measure from the bill so that Congress could pass quickly a "clean" bill containing only provisions specifically designed to meet federal budget targets under the Gramm-Rudman act.@@@@1@38@@oe@2-2-2013
21062003@unknown@formal@none@1@S@But now that Congress has missed the legal deadline for meeting the Gramm-Rudman targets, the White House said it has returned to its original view that a capital-gains cut should be part of the deficit-reduction bill, on which Congress continues to work.@@@@1@42@@oe@2-2-2013
21062004@unknown@formal@none@1@S@"If that doesn't happen, then we press forward on another vehicle and a separate vote," said press secretary Marlin Fitzwater.@@@@1@20@@oe@2-2-2013
21062005@unknown@formal@none@1@S@On Capitol Hill, though, there doesn't seem to be sufficient sentiment to pair capital gains and the deficit-reduction bill.@@@@1@19@@oe@2-2-2013
21062006@unknown@formal@none@1@S@Texas Rep. William Archer, the ranking Republican on the House Ways and Means Committee said, "I don't see how we have the votes" to place a capital-gains tax cut there.@@@@1@30@@oe@2-2-2013
21062007@unknown@formal@none@1@S@Meanwhile, President Bush stepped up his personal lobbying for the capital-gains tax cut.@@@@1@13@@oe@2-2-2013
21062008@unknown@formal@none@1@S@The White House said he plans to hold a series of private White House meetings, mostly with Senate Democrats, to try to persuade lawmakers to fall in line behind the tax cut.@@@@1@32@@oe@2-2-2013
21062009@unknown@formal@none@1@S@The first meeting yesterday was with 10 Senate Democrats who have expressed an interest in cutting the tax.@@@@1@18@@oe@2-2-2013
21062010@unknown@formal@none@1@S@According to some who attended, the senators argued that the president should give the Democratic leaders in Congress a victory of their own to compensate them for allowing the president to win on the controversial capital-gains issue.@@@@1@37@@oe@2-2-2013
21062011@unknown@formal@none@1@S@Issues discussed in this context were an increase in the minimum wage and an increase in child-care spending.@@@@1@18@@oe@2-2-2013
21062012@unknown@formal@none@1@S@The president was said to have been noncommittal.@@@@1@8@@oe@2-2-2013
21063001@unknown@formal@none@1@S@Toshiba Corp. said its new French marketing concern has started operating under the aegis of the company's West German subsidiary, which formerly handled all sales of Toshiba electronic products in France.@@@@1@31@@oe@2-2-2013
21063002@unknown@formal@none@1@S@A recent change in French law, according to Toshiba, permitted formation of the semiconductor marketing arm in Paris.@@@@1@18@@oe@2-2-2013
21064001@unknown@formal@none@1@S@American Telephone & Telegraph Co. unveiled new optical transmission systems for data, video and voice communications.@@@@1@16@@oe@2-2-2013
21064002@unknown@formal@none@1@S@Two products in what the telecommunications giant called a new generation of such equipment are available now, AT&T said, and three others will be introduced in 1990 and 1991.@@@@1@29@@oe@2-2-2013
21064003@unknown@formal@none@1@S@The products are aimed at a market expected to total more than $1 billion a year in sales by 1995, said Morgan Buchner Jr., vice president of transmission systems for AT&T.@@@@1@31@@oe@2-2-2013
21064004@unknown@formal@none@1@S@The products already available are cross-connect systems, used instead of mazes of wiring to interconnect other telecommunications equipment.@@@@1@18@@oe@2-2-2013
21064005@unknown@formal@none@1@S@This cuts down greatly on labor, Mr. Buchner said.@@@@1@9@@oe@2-2-2013
21064006@unknown@formal@none@1@S@To be introduced later are a multiplexer, which will allow several signals to travel along a single optical line; a light-wave system, which carries voice channels; and a network controller, which directs data flow through cross-connect systems.@@@@1@37@@oe@2-2-2013
21064007@unknown@formal@none@1@S@AT&T said the products, unlike previous generations, will meet so-called Sonet compatability standards, which AT&T expects to be broadly adopted.@@@@1@20@@oe@2-2-2013
21064008@unknown@formal@none@1@S@Sonet, or synchronous optical network, products have more capacity than earlier models.@@@@1@12@@oe@2-2-2013
21064009@unknown@formal@none@1@S@"These products are the heart of our transmission-product line," Mr. Buchner said.@@@@1@12@@oe@2-2-2013
21064010@unknown@formal@none@1@S@He declined to disclose specific prices, but said each product costs in the tens of thousands, or even hundreds of thousands, of dollars.@@@@1@23@@oe@2-2-2013
21064011@unknown@formal@none@1@S@AT&T said it expects to beat to the marketplace two rivals, Northern Telecom Ltd. of Canada and France's Alcatel N.V., which also have announced Sonet-based products.@@@@1@26@@oe@2-2-2013
21064012@unknown@formal@none@1@S@AT&T predicted strong growth in demand for such products.@@@@1@9@@oe@2-2-2013
21064013@unknown@formal@none@1@S@It noted that last July, Nippon Telegraph & Telephone Corp. of Japan selected AT&T to supply $154 million of such equipment over a four-year period starting next year.@@@@1@28@@oe@2-2-2013
21065001@unknown@formal@none@1@S@Law firms that have feasted and grown on the revenue from mergers and acquisitions work are feeling the squeeze as that work declines.@@@@1@23@@oe@2-2-2013
21065002@unknown@formal@none@1@S@The disarray in the junk-bond market that began last month with a credit crunch at Campeau Corp. and the failure of banks to deliver financing for a leveraged buy-out of United Airlines parent UAL Corp. has reverberated through some of the nation's largest law firms.@@@@1@45@@oe@2-2-2013
21065003@unknown@formal@none@1@S@While it is still too early to tell whether the dearth of takeover activity is only temporary, many lawyers say their firms are bracing for lower revenue from merger work, which has been so lucrative in the past.@@@@1@38@@oe@2-2-2013
21065004@unknown@formal@none@1@S@Much of this work was done for higher fees than other legal work and was not generally billed by the hour.@@@@1@21@@oe@2-2-2013
21065005@unknown@formal@none@1@S@If deals take longer to complete and there are fewer of them to do, "you can't bill the same kind of premium as when deals took a few weeks from start to finish," says one lawyer at a large New York firm.@@@@1@42@@oe@2-2-2013
21065006@unknown@formal@none@1@S@"We're planning on a rip-roaring year in 1989, but next year we'll be another story," said Robert Freedman, a partner at Simpson Thacher & Bartlett.@@@@1@25@@oe@2-2-2013
21065007@unknown@formal@none@1@S@"We're settling down to a less active period."@@@@1@8@@oe@2-2-2013
21065008@unknown@formal@none@1@S@Lawyers at such firms as Sullivan & Cromwell; Willkie Farr & Gallagher; Wachtell, Lipton, Rosen & Katz; and Fried, Frank, Harris, Shriver & Jacobson all say they, too, have experienced a significant slowdown, particularly during the past few weeks.@@@@1@39@@oe@2-2-2013
21065009@unknown@formal@none@1@S@"Everyone is waiting to see if deals can be done at sensible prices and if money is available," said Jack Nusbaum, co-chairman of Willkie Farr.@@@@1@25@@oe@2-2-2013
21065010@unknown@formal@none@1@S@"It's hard to know right now if the change is fundamental or cyclical."@@@@1@13@@oe@2-2-2013
21065011@unknown@formal@none@1@S@Some lawyers say the slump, while more obvious in recent weeks, began earlier this year.@@@@1@15@@oe@2-2-2013
21065012@unknown@formal@none@1@S@Dennis Block, a partner at the New York firm of Weil, Gotshal & Manges, said that in the first eight months of this year, 89 hostile offers were launched, compared with 157 for the first eight months of@@@@1@38@@oe@2-2-2013
21065013@unknown@formal@none@1@S@What's more, he said, "transactions are taking a much longer time to conclude and many fall apart for lack of financing" and more stringent scrutiny by state courts.@@@@1@28@@oe@2-2-2013
21065014@unknown@formal@none@1@S@Lawyers also say an erratic stock market and uncertain financing conditions have sharply reduced the number of lucrative big deals likely to be proposed.@@@@1@24@@oe@2-2-2013
21065015@unknown@formal@none@1@S@Still, some lawyers say the mergers slowdown hasn't affected foreign buyers as much as domestic ones.@@@@1@16@@oe@2-2-2013
21065016@unknown@formal@none@1@S@"We just took another floor for our London offices," said Joseph Flom of the New York firm of Skadden, Arps, Slate, Meagher & Flom.@@@@1@24@@oe@2-2-2013
21065017@unknown@formal@none@1@S@Davis Polk & Wardwell also said its international clients are keeping mergers and acquisitions partners busy.@@@@1@16@@oe@2-2-2013
21065018@unknown@formal@none@1@S@"European companies are looking to buy American ones," said Henry King, the managing partner at that firm.@@@@1@17@@oe@2-2-2013
21065019@unknown@formal@none@1@S@"But the question is whether things people are looking at will actually surface in live transactions in light of the current market conditions."@@@@1@23@@oe@2-2-2013
21065020@unknown@formal@none@1@S@MURDER THREAT charged in Haas Securities Corp. stock-manipulation trial.@@@@1@9@@oe@2-2-2013
21065021@unknown@formal@none@1@S@In the trial of former Haas Securities Chairman Eugene Laff, the defense accused one of the government's chief witnesses of threatening to kill Mr. Laff.@@@@1@25@@oe@2-2-2013
21065022@unknown@formal@none@1@S@Mr. Laff's attorney, John Lang, filed a memorandum asking that the trial record include a secretly taped conversation in which the witness, Henry Lorin, told a Haas stockbroker that Mr. Laff should be killed.@@@@1@34@@oe@2-2-2013
21065023@unknown@formal@none@1@S@The conversation was taped by federal investigators in what Mr. Lang said was an effort to get Mr. Lorin to implicate Mr. Laff.@@@@1@23@@oe@2-2-2013
21065024@unknown@formal@none@1@S@In his opening arguments last week in federal court in New York, Mr. Lang told the jury that Mr. Lorin was the "real master criminal" behind the stock manipulation, and that Mr. Laff knew nothing about it.@@@@1@37@@oe@2-2-2013
21065025@unknown@formal@none@1@S@In March, Mr. Laff was indicted on 15 counts of conspiracy, mail and securities fraud, and obstructing an investigation by the Securities and Exchange Commission.@@@@1@25@@oe@2-2-2013
21065026@unknown@formal@none@1@S@The government has charged that Mr. Lorin and Mr. Laff were part of a conspiracy to maintain the prices of certain stocks at artificially high prices.@@@@1@26@@oe@2-2-2013
21065027@unknown@formal@none@1@S@Mr. Lorin, a stock promoter, pleaded guilty to the stock-manipulation charges in April and agreed to cooperate with the government's investigation of Mr. Laff.@@@@1@24@@oe@2-2-2013
21065028@unknown@formal@none@1@S@During his cross examination of Mr. Lorin, Mr. Lang read from the transcripts of a conversation that was taped Oct. 20, 1988.@@@@1@22@@oe@2-2-2013
21065029@unknown@formal@none@1@S@Stanley Aslanian, the Haas broker who agreed to carry a hidden microphone during the conversation, also has pleaded guilty to conspiracy to commit securities violations in the stock manipulation and agreed to cooperate.@@@@1@33@@oe@2-2-2013
21065030@unknown@formal@none@1@S@According to the transcript, Mr. Lorin said Mr. Laff should be killed after Mr. Aslanian told him that information given to Mr. Laff by another conspirator could jeopardize the stock scheme.@@@@1@31@@oe@2-2-2013
21065031@unknown@formal@none@1@S@Mr. Lorin then repeated the threat, and Mr. Aslanian urged him not to say such things.@@@@1@16@@oe@2-2-2013
21065032@unknown@formal@none@1@S@From the parts of the transcript read by Mr. Lang, it was unclear what exactly Mr. Lorin feared might happen.@@@@1@20@@oe@2-2-2013
21065033@unknown@formal@none@1@S@When asked for a copy of the transcript, Mr. Lang said Judge Thomas P. Griesa had instructed him not to release it or the memorandum.@@@@1@25@@oe@2-2-2013
21065034@unknown@formal@none@1@S@During the trial, Mr. Lang asked Mr. Lorin whether he had been so upset "that you considered killing Mr. Laff? . . .@@@@1@23@@oe@2-2-2013
21065035@unknown@formal@none@1@S@Isn't it true that you were so worked up that framing Mr. Laff for this crime was the least that you planned for him?"@@@@1@24@@oe@2-2-2013
21065036@unknown@formal@none@1@S@Mr. Lorin responded, "No."@@@@1@4@@oe@2-2-2013
21065037@unknown@formal@none@1@S@When Mr. Lang asked Mr. Lorin whether he had taken steps to have Mr. Laff killed, the witness again said no.@@@@1@21@@oe@2-2-2013
21065038@unknown@formal@none@1@S@Peter Lieb, the assistant U.S. attorney prosecuting the case, declined to comment on the trial.@@@@1@15@@oe@2-2-2013
21065039@unknown@formal@none@1@S@TRUSTEE WHO MONITORED settlement payments to Dalkon Shield claimants quits.@@@@1@10@@oe@2-2-2013
21065040@unknown@formal@none@1@S@Stephen A. Saltzburg, one of five trustees appointed to monitor payments to women injured by the Dalkon Shield intrauterine contraceptive, resigned, citing personal reasons.@@@@1@24@@oe@2-2-2013
21065041@unknown@formal@none@1@S@Mr. Saltzburg, who teaches evidence at the University of Virginia School of Law and was a deputy assistant attorney general in the U.S. Justice Department until August, submitted his resignation earlier this month to federal Judge Robert R. Merhige Jr., in Richmond, Va.@@@@1@43@@oe@2-2-2013
21065042@unknown@formal@none@1@S@Judge Merhige is overseeing the bankruptcy-law reorganization of A.H. Robins Co., the company that manufactured the shield.@@@@1@17@@oe@2-2-2013
21065043@unknown@formal@none@1@S@In a letter Monday to Mr. Saltzburg, the judge said he would "reluctantly" accept the resignation.@@@@1@16@@oe@2-2-2013
21065044@unknown@formal@none@1@S@The $2.38 billion Dalkon Shield Claimants Trust was established as part of A.H. Robins' bankruptcy-reorganization plan to resolve injury claims arising from use of the shield.@@@@1@26@@oe@2-2-2013
21065045@unknown@formal@none@1@S@American Home Products Corp. proposes to acquire the company.@@@@1@9@@oe@2-2-2013
21065046@unknown@formal@none@1@S@The remaining four trustees on the Claimants Trust have 60 days to nominate a successor to Mr. Saltzburg.@@@@1@18@@oe@2-2-2013
21065047@unknown@formal@none@1@S@Judge Merhige will make the appointment.@@@@1@6@@oe@2-2-2013
21065048@unknown@formal@none@1@S@CHICAGO LAW FIRM recruits American Express Co. vice president:@@@@1@9@@oe@2-2-2013
21065049@unknown@formal@none@1@S@Coffield Ungaretti Harris & Slavin brought in Howard A. Menell as a partner in its Washington, D.C., office, which opened Oct. 1.@@@@1@22@@oe@2-2-2013
21065050@unknown@formal@none@1@S@For the past six years, Mr. Menell, 43 years old, served as vice president for government affairs at American Express.@@@@1@20@@oe@2-2-2013
21065051@unknown@formal@none@1@S@He previously was staff director and counsel for the Senate committee on banking, housing and urban affairs.@@@@1@17@@oe@2-2-2013
21065052@unknown@formal@none@1@S@The other lawyer in the office is partner Robert A. Macari, the firm's legislative director.@@@@1@15@@oe@2-2-2013
21065053@unknown@formal@none@1@S@THE PHILADELPHIA law firm of Ballard, Spahr, Andrews & Ingersoll said three partners have joined its business and finance department.@@@@1@20@@oe@2-2-2013
21065054@unknown@formal@none@1@S@John Ake, 48, a former vice-president in charge of legal compliance at American Capital Management & Research Inc., in Houston, will join Ballard Spahr's corporate-securities practice.@@@@1@26@@oe@2-2-2013
21065055@unknown@formal@none@1@S@Kent Walker, 45, a former partner at the Philadelphia law firm of Mesirov, Gelman, Jaffe, Cramer & Jamieson, will specialize in antitrust, real estate and mergers and acquisitions.@@@@1@28@@oe@2-2-2013
21065056@unknown@formal@none@1@S@Richard L. Sherman, 42, will advise midsized businesses.@@@@1@8@@oe@2-2-2013
21065057@unknown@formal@none@1@S@Mr. Sherman is former deputy general counsel for SmithKline Beckman Corp., in Philadelphia, now SmithKline Beecham PLC, in London.@@@@1@19@@oe@2-2-2013
21066001@unknown@formal@none@1@S@Delmed Inc.'s top two officers resigned and were succeeded by executives of Fresenius USA Inc. and its parent, Fresenius AG, a major Delmed holder that has been negotiating to acquire a controlling stake.@@@@1@33@@oe@2-2-2013
21066002@unknown@formal@none@1@S@In addition, Delmed, which makes and sells a dialysis solution used in treating kidney diseases, said negotiations about pricing had collapsed between it and a major distributor, National Medical Care Inc.@@@@1@31@@oe@2-2-2013
21066003@unknown@formal@none@1@S@Delmed said Robert S. Ehrlich resigned as chairman, president and chief executive.@@@@1@12@@oe@2-2-2013
21066004@unknown@formal@none@1@S@Mr. Ehrlich will continue as a director and a consultant.@@@@1@10@@oe@2-2-2013
21066005@unknown@formal@none@1@S@Leslie I. Shapiro, chief operating officer and chief financial officer, also resigned, the company said.@@@@1@15@@oe@2-2-2013
21066006@unknown@formal@none@1@S@Mr. Ehrlich was succeeded as chairman by Gerd Krick, a director of Fresenius, a West German pharmaceutical concern.@@@@1@18@@oe@2-2-2013
21066007@unknown@formal@none@1@S@Ben Lipps, president of Fresenius USA, was named president, chief executive and chief operating officer.@@@@1@15@@oe@2-2-2013
21066008@unknown@formal@none@1@S@None of the officials was available for comment.@@@@1@8@@oe@2-2-2013
21066009@unknown@formal@none@1@S@In trading on the American Stock Exchange, Delmed closed at 50 cents, down 6.25 cents.@@@@1@15@@oe@2-2-2013
21066010@unknown@formal@none@1@S@Fresenius owns about 42% of Delmed's fully diluted common stock.@@@@1@10@@oe@2-2-2013
21066011@unknown@formal@none@1@S@The two companies have been discussing a transaction under which Fresenius would buy Delmed stock for cash to bring its beneficial ownership to between 70% and 80% of Delmed's fully diluted common stock.@@@@1@33@@oe@2-2-2013
21066012@unknown@formal@none@1@S@The transaction also would combine Fresenius USA and Delmed.@@@@1@9@@oe@2-2-2013
21066013@unknown@formal@none@1@S@Under the proposal, Delmed would issue about 123.5 million additional Delmed common shares to Fresenius at an average price of about 65 cents a share, though under no circumstances more than 75 cents a share.@@@@1@35@@oe@2-2-2013
21066014@unknown@formal@none@1@S@Yesterday, Delmed said it "continues to explore the possibility of a combination with Fresenius USA."@@@@1@15@@oe@2-2-2013
21066015@unknown@formal@none@1@S@It added that it is apparent that any terms of a combination "would be substantially less favorable than those previously announced."@@@@1@21@@oe@2-2-2013
21066016@unknown@formal@none@1@S@While the discussions between Delmed and National Medical Care have been discontinued, Delmed will continue to supply dialysis products through National Medical after their exclusive agreement ends in March 1990, Delmed said.@@@@1@32@@oe@2-2-2013
21066017@unknown@formal@none@1@S@In addition, Delmed is exploring distribution arrangements with Fresenius USA, Delmed said.@@@@1@12@@oe@2-2-2013
21067001@unknown@formal@none@1@S@Philip L. Hall, president of J. Lawrence Hall Co., Nashua, was named a director of this thrift holding company, filling a vacancy.@@@@1@22@@oe@2-2-2013
21068001@unknown@formal@none@1@S@Kennametal Inc. said it intends to acquire J&L America Inc. for $44 million plus a consideration of as much as an additional $12 million, payable over five years.@@@@1@28@@oe@2-2-2013
21068002@unknown@formal@none@1@S@Kennametal is a carbide-products and cutting-tools company.@@@@1@7@@oe@2-2-2013
21068003@unknown@formal@none@1@S@J&L, whose principal offices are in Detroit, is a mail-order distributer of industrial tools and supplies.@@@@1@16@@oe@2-2-2013
21068004@unknown@formal@none@1@S@The acquisition is subject to approval by Kennametal's board.@@@@1@9@@oe@2-2-2013
21069001@unknown@formal@none@1@S@Genentech Inc. said third-quarter profit more than doubled to $11.4 million, or 13 cents a share, from a depressed 1988 third-quarter performance of $5.3 million, or six cents a share.@@@@1@30@@oe@2-2-2013
21069002@unknown@formal@none@1@S@Revenue rose 23% to $100 million from $81.6 million.@@@@1@9@@oe@2-2-2013
21069003@unknown@formal@none@1@S@Net product sales accounted for $76 million, up from $57.5 million a year earlier.@@@@1@14@@oe@2-2-2013
21069004@unknown@formal@none@1@S@Sales of the heart drug TPA were $43.6 million, better than last year's depressed third period when the company sold just $29.1 million of the drug.@@@@1@26@@oe@2-2-2013
21069005@unknown@formal@none@1@S@But TPA sales fell below levels for this year's first and second quarter sales of $48 million, cooling investors.@@@@1@19@@oe@2-2-2013
21069006@unknown@formal@none@1@S@Genentech stock fell 12.5 cents in trading yesterday on the New York Stock Exchange to $20.125.@@@@1@16@@oe@2-2-2013
21069007@unknown@formal@none@1@S@In the nine months, net income slid 21% to $28.4 million, or 33 cents a share, from $36 million, or 42 cents a share.@@@@1@24@@oe@2-2-2013
21069008@unknown@formal@none@1@S@Revenues climbed 18% to $289 million from $245.3 million.@@@@1@9@@oe@2-2-2013
21069009@unknown@formal@none@1@S@"We continue to be on target for . . . increasing TPA sales 20% to 25% this year," said founder and Chief Executive Officer Robert Swanson.@@@@1@26@@oe@2-2-2013
21069010@unknown@formal@none@1@S@But some analysts remain sour on the company.@@@@1@8@@oe@2-2-2013
21069011@unknown@formal@none@1@S@"TPA sales are down quarter to quarter.@@@@1@7@@oe@2-2-2013
21069012@unknown@formal@none@1@S@Expenses are flat and that's a good sign.@@@@1@8@@oe@2-2-2013
21069013@unknown@formal@none@1@S@There's contract revenue from {limited research and development} partnerships.@@@@1@9@@oe@2-2-2013
21069014@unknown@formal@none@1@S@But I still think the fundamentals are poor," said Denise Gilbert, an analyst with Montgomery Securities in San Francisco.@@@@1@19@@oe@2-2-2013
21069015@unknown@formal@none@1@S@Genentech faces competition in the cardiac-drug market from SmithKline Beecham PLC's heart drug Eminase, expected to receive market approval shortly.@@@@1@20@@oe@2-2-2013
21069016@unknown@formal@none@1@S@And Genentech isn't likely to have any new products ready for market until at least 1992, Ms. Gilbert added.@@@@1@19@@oe@2-2-2013
21069017@unknown@formal@none@1@S@"The company's stock is trading at 40 times next year's numbers, and that's too much," she said.@@@@1@17@@oe@2-2-2013
21069018@unknown@formal@none@1@S@On the plus side, Genentech is benefiting from a lower tax rate due to its research outlays, giving a boost to earnings, she said.@@@@1@24@@oe@2-2-2013
21070001@unknown@formal@none@1@S@THE AMERICAN CANCER SOCIETY'S 1988 costs of fund raising and administration were $72.4 million, or 23.2% of its revenue.@@@@1@19@@oe@2-2-2013
21070002@unknown@formal@none@1@S@A chart in last Friday's special report on personal finance contained an incorrect figure supplied by NonProfit Times, a monthly newspaper covering charities.@@@@1@23@@oe@2-2-2013
21071001@unknown@formal@none@1@S@Ryder System Inc. posted a third-quarter net loss of $27.6 million, because of an expected $57 million after-tax charge and continued weakness in the company's truck-rental business.@@@@1@27@@oe@2-2-2013
21071002@unknown@formal@none@1@S@The loss, which is 38 cents a share, is the transportation services concern's first quarterly setback in more than a decade and compares with net income of $55.3 million, or 68 cents a share, in the year-ago period.@@@@1@38@@oe@2-2-2013
21071003@unknown@formal@none@1@S@The previous year's third quarter included gains on the sale of aircraft by the company's Aviation Leasing & Services Division.@@@@1@20@@oe@2-2-2013
21071004@unknown@formal@none@1@S@Revenue was flat at $1.3 billion.@@@@1@6@@oe@2-2-2013
21071005@unknown@formal@none@1@S@The latest quarter's after-tax charge -- which is 75 cents a share -- was related to adjustments to reserves for workers' compensation claims; reductions in vehicle fleets, staff and facilities; and writedowns of assets.@@@@1@34@@oe@2-2-2013
21071006@unknown@formal@none@1@S@Although Ryder didn't break out the charge, analysts estimated that the majority of the $57 million was linked to workers' compensation reserves and anticipated losses on the disposal of trucks.@@@@1@30@@oe@2-2-2013
21071007@unknown@formal@none@1@S@Many analysts said they weren't surprised that problems in many of Ryder's lines of business continued to plague the company.@@@@1@20@@oe@2-2-2013
21071008@unknown@formal@none@1@S@"It pretty much confirms what we had been expecting," said Anthony Hatch, an analyst at PaineWebber Inc.@@@@1@17@@oe@2-2-2013
21071009@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Ryder closed at $22.25, down 37.5 cents.@@@@1@15@@oe@2-2-2013
21071010@unknown@formal@none@1@S@M. Anthony Burns, Ryder's chairman and chief executive officer, said: "We're constantly trying to find ways to regain the earnings momentum.@@@@1@21@@oe@2-2-2013
21071011@unknown@formal@none@1@S@But we're still at the beginning stages of some of these changes."@@@@1@12@@oe@2-2-2013
21071012@unknown@formal@none@1@S@He said the fourth quarter will be "challenging," and maintained his conservative forecast that 1990 "won't be a barn burner."@@@@1@20@@oe@2-2-2013
21071013@unknown@formal@none@1@S@In the nine months, net income fell 79% to $31.1 million, or 33 cents a share, from $149.3 million, or $1.82 a share, a year earlier.@@@@1@26@@oe@2-2-2013
21071014@unknown@formal@none@1@S@Revenue rose slightly to $3.8 billion from $3.7 billion.@@@@1@9@@oe@2-2-2013
21072001@unknown@formal@none@1@S@Robert L. Wood, 37-year-old chief financial officer, was named chairman and chief executive officer of this independent power producer, succeeding Raymond L. Hixson, 63.@@@@1@24@@oe@2-2-2013
21072002@unknown@formal@none@1@S@Mr. Hixson, who resigned effective Jan. 1 for health reasons, remains a director.@@@@1@13@@oe@2-2-2013
21073001@unknown@formal@none@1@S@Advanced Medical Technologies Inc. said it purchased 93% of a unit of Henley Group Inc.@@@@1@15@@oe@2-2-2013
21073002@unknown@formal@none@1@S@Advanced Medical paid $106 million in cash for its share in a unit of Henley's Fisher Scientific subsidiary.@@@@1@18@@oe@2-2-2013
21073003@unknown@formal@none@1@S@The unit makes intravenous pumps used by hospitals and had more than $110 million in sales last year, according to Advanced Medical.@@@@1@22@@oe@2-2-2013
21074001@unknown@formal@none@1@S@Maxicare Health Plans Inc., operating under Chapter 11 bankrupty-law protection, outlined terms of its reorganization plan that calls for creditors and shareholders to receive at least $78.8 million in cash and $67 million face amount of 10-year, 13.5% notes.@@@@1@39@@oe@2-2-2013
21074002@unknown@formal@none@1@S@The plan, outlined in a filing with the Securities and Exchange Commission, also calls for creditors and shareholders to receive common stock and warrants in the new company.@@@@1@28@@oe@2-2-2013
21074003@unknown@formal@none@1@S@The health-maintenance concern said it reached the agreement with its court-appointed creditors' committees Sept. 28, and intends to submit the plan to the bankruptcy court in November.@@@@1@27@@oe@2-2-2013
21074004@unknown@formal@none@1@S@Maxicare, which filed for bankruptcy protection March 16, has total debt of $750 million.@@@@1@14@@oe@2-2-2013
21074005@unknown@formal@none@1@S@The company has promptly paid all its expenses and obligations since March 16, a Maxicare spokesman said.@@@@1@17@@oe@2-2-2013
21074006@unknown@formal@none@1@S@General unsecured creditors of Maxicare's continuing operations initially will receive $47 million in cash, $35 million face amount of senior notes, and 49% of the new company's stock.@@@@1@28@@oe@2-2-2013
21074007@unknown@formal@none@1@S@Those creditors, whose claims are estimated at about $200 million, include doctors and hospitals.@@@@1@14@@oe@2-2-2013
21074008@unknown@formal@none@1@S@General unsecured creditors of Maxicare's discontinued operations, whose claims total $110 million, initially will receive $17.8 million in cash and $10 million in senior notes.@@@@1@25@@oe@2-2-2013
21074009@unknown@formal@none@1@S@Maxicare's public shareholders will receive 2% of the new company's stock and warrants entitling them to acquire as much as an additional 5% of the stock on a fully-diluted basis.@@@@1@30@@oe@2-2-2013
21074010@unknown@formal@none@1@S@General unsecured creditors of the parent holding company initially will receive $14 million in cash, $22 million face amount of senior notes and 49% of the new company's stock.@@@@1@29@@oe@2-2-2013
21074011@unknown@formal@none@1@S@That group includes banks and bondholders, who have claims of $150 million and $350 million respectively.@@@@1@16@@oe@2-2-2013
21074012@unknown@formal@none@1@S@Maxicare also will guarantee that the banks will realize at least $7 million on certain notes pledged to them.@@@@1@19@@oe@2-2-2013
21074013@unknown@formal@none@1@S@Maxicare said the plan stipulates that enrollees in the company's health plans will have valid claims covered in full.@@@@1@19@@oe@2-2-2013
21074014@unknown@formal@none@1@S@Those claims, along with priority employee claims, administrative claims, priority tax claims and administrative convenience claims, are expected to total about $16 million.@@@@1@23@@oe@2-2-2013
21074015@unknown@formal@none@1@S@The plan is subject to approval by the bankruptcy court and others.@@@@1@12@@oe@2-2-2013
21074016@unknown@formal@none@1@S@The spokesman said Maxicare hopes to complete the reorganization by early 1990.@@@@1@12@@oe@2-2-2013
21075001@unknown@formal@none@1@S@Birmingham Steel Corp. said that its Emeryville, Calif., minimill sustained only minor damage from last week's earthquake.@@@@1@17@@oe@2-2-2013
21075002@unknown@formal@none@1@S@Steelmaking resumed Oct. 18, but the company expects production to be hampered in the next few months by traffic disruptions around the plant and outages for repair to gas and electric power systems.@@@@1@33@@oe@2-2-2013
21076001@unknown@formal@none@1@S@The average interest rate rose to 8.337% at Citicorp's $50 million weekly auction of 91-day commercial paper, or corporate IOUs, from 8.292% at last week's sale.@@@@1@26@@oe@2-2-2013
21076002@unknown@formal@none@1@S@Bids totaling $475 million were submitted.@@@@1@6@@oe@2-2-2013
21076003@unknown@formal@none@1@S@Accepted bids ranged from 8.328% to 8.347%.@@@@1@7@@oe@2-2-2013
21076004@unknown@formal@none@1@S@However, Citicorp said that the average rate fell to 7.962% at its $50 million auction of 182-day commercial paper from 7.986% at last week's sale.@@@@1@25@@oe@2-2-2013
21076005@unknown@formal@none@1@S@Bids totaling $425 million were submitted.@@@@1@6@@oe@2-2-2013
21076006@unknown@formal@none@1@S@Accepted bids were all at 7.962%.@@@@1@6@@oe@2-2-2013
21076007@unknown@formal@none@1@S@The bank holding company will auction another $50 million in each maturity next Tuesday.@@@@1@14@@oe@2-2-2013
21077001@unknown@formal@none@1@S@Hughes Aircraft Co., a General Motors Corp. unit, said the Intelsat VI commercial communications satellite is set to be launched Friday.@@@@1@21@@oe@2-2-2013
21077002@unknown@formal@none@1@S@The satellite, built by Hughes for the International Telecommunications Satellite Organization, is part of a $700 million contract awarded to Hughes in 1982 to develop five of the three-ton satellites.@@@@1@30@@oe@2-2-2013
21078001@unknown@formal@none@1@S@Italian car manufacturer Fiat said it isn't interested in partnership or industrial cooperation with Swedish auto and aerospace group Saab-Scania AB, which faces heavy losses in its car division.@@@@1@29@@oe@2-2-2013
21078002@unknown@formal@none@1@S@Fiat said it's only interested in technical cooperation with Saab.@@@@1@10@@oe@2-2-2013
21078003@unknown@formal@none@1@S@"We know that Saab is looking for a partner for industrial and financial cooperation," Fiat said.@@@@1@16@@oe@2-2-2013
21078004@unknown@formal@none@1@S@"But that partner isn't Fiat."@@@@1@5@@oe@2-2-2013
21078005@unknown@formal@none@1@S@The Italian auto maker confirmed that it was discussing technical cooperation with Saab, but declined to comment on rumors that it was planning to buy Saab's car division.@@@@1@28@@oe@2-2-2013
21078006@unknown@formal@none@1@S@Fiat's rejection of partnership with Saab means that the Swedish company, which announced last Friday that its pretax profit for the first eight months plummeted 49%, will have to look for a partner among other car manufacturers as both Ford Motor Corp. and Fiat have turned down the offer.@@@@1@49@@oe@2-2-2013
21078007@unknown@formal@none@1@S@News reports said yesterday that Saab is trying to start negotiations with French automakers Peugeot and Renault.@@@@1@17@@oe@2-2-2013
21079001@unknown@formal@none@1@S@ITT Corp., its insurance business hurt by Hurricane Hugo, reported a 4% decline in third-quarter net income, despite a 4.2% rise in revenue.@@@@1@23@@oe@2-2-2013
21079002@unknown@formal@none@1@S@ITT also forecast a fourth-quarter blow to earnings from the California earthquake.@@@@1@12@@oe@2-2-2013
21079003@unknown@formal@none@1@S@Except for insurance, however, ITT said it expects improved operating earnings "in all of our businesses for the full year."@@@@1@20@@oe@2-2-2013
21079004@unknown@formal@none@1@S@Third-quarter net income dropped to $221 million, or $1.55 a share, from $230 million, or $1.60 a share, in the year-earlier period.@@@@1@22@@oe@2-2-2013
21079005@unknown@formal@none@1@S@ITT bought back 8.8 million shares this year, including 2.8 million during the third quarter.@@@@1@15@@oe@2-2-2013
21079006@unknown@formal@none@1@S@Third-quarter revenue rose to $4.9 billion from $4.7 billion.@@@@1@9@@oe@2-2-2013
21079007@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, ITT common stock fell 62.5 cents to close at $58.75 a share.@@@@1@20@@oe@2-2-2013
21079008@unknown@formal@none@1@S@In addition to insurance and finance, ITT has interests in electronic parts, defense technology, automotive parts, fluid technology, pulp and timber, and communications and information services.@@@@1@26@@oe@2-2-2013
21079009@unknown@formal@none@1@S@"Hurricane Hugo losses and the continuing industrywide downturn in the property and casualty insurance business were the major factors affecting quarterly comparisons," said Rand V. Araskog, chairman and chief executive officer.@@@@1@31@@oe@2-2-2013
21079010@unknown@formal@none@1@S@ITT's Hartford Insurance Group had a $53 million quarterly pretax loss from Hurricane Hugo, ITT said.@@@@1@16@@oe@2-2-2013
21079011@unknown@formal@none@1@S@Hartford expects to report a further pretax loss of about $30 million for the current quarter, as a result of the California earthquake this month, ITT added.@@@@1@27@@oe@2-2-2013
21079012@unknown@formal@none@1@S@The company also disclosed its financial operations had increased reserves for bankrupt accounts, resulting in a $40 million pretax charge for the third quarter.@@@@1@24@@oe@2-2-2013
21079013@unknown@formal@none@1@S@This charge was partly offset, however, by $19 million in pretax capital gains.@@@@1@13@@oe@2-2-2013
21079014@unknown@formal@none@1@S@ITT also said its consumer finance unit agreed in September to settle a civil suit with the California attorney general over alleged improper lending and sales practices.@@@@1@27@@oe@2-2-2013
21079015@unknown@formal@none@1@S@Anticipating this settlement, the company recorded a pretax charge of $24 million during the fourth quarter of 1988.@@@@1@18@@oe@2-2-2013
21079016@unknown@formal@none@1@S@An ITT spokesman said the charge wasn't publicly reported at the time.@@@@1@12@@oe@2-2-2013
21079017@unknown@formal@none@1@S@"The company's product businesses, with the exception of electronic components, had higher operating earnings for the first nine months of 1989," the company said.@@@@1@24@@oe@2-2-2013
21079018@unknown@formal@none@1@S@Elaborating on the exception, it said volume and margins were lower in semiconductor and power systems operations.@@@@1@17@@oe@2-2-2013
21080001@unknown@formal@none@1@S@Amoco Corp. said it plans to install two platforms and drill as many as 22 wells to develop oil reserves it discovered in the Atlantic Ocean about 25 miles off the coast of Congo.@@@@1@34@@oe@2-2-2013
21080002@unknown@formal@none@1@S@Amoco, an energy concern, is the operator of the project with a 43.75% working interest, and other partners include Hydro Congo, the Congolese state oil company, with a 50% interest, and Kuwait Foreign Petroleum Exploration Co. with a 6.25% stake.@@@@1@40@@oe@2-2-2013
21080003@unknown@formal@none@1@S@Production is expected to be about 40,000 barrels of oil a day after completion of the drilling program.@@@@1@18@@oe@2-2-2013
21081001@unknown@formal@none@1@S@Jacobs Engineering Group Inc.'s Jacobs International unit was selected to design and build a microcomputer-systems manufacturing plant in County Kildare, Ireland, for Intel Corp.@@@@1@24@@oe@2-2-2013
21081002@unknown@formal@none@1@S@Jacobs is an international engineering and construction concern.@@@@1@8@@oe@2-2-2013
21081003@unknown@formal@none@1@S@Total capital investment at the site could be as much as $400 million, according to Intel.@@@@1@16@@oe@2-2-2013
21081004@unknown@formal@none@1@S@The 150,000-square-foot plant will be constructed on a 55-acre site near Dublin.@@@@1@12@@oe@2-2-2013
21081005@unknown@formal@none@1@S@Jacobs Engineering officials couldn't be reached for comment.@@@@1@8@@oe@2-2-2013
21082001@unknown@formal@none@1@S@Bob Evans Inc. said its board authorized the purchase of as many as 500,000 shares of its common.@@@@1@18@@oe@2-2-2013
21082002@unknown@formal@none@1@S@The stock, to be purchased on the open market or through privately negotiated transactions, will be held as treasury shares for stock options or other general corporate purposes.@@@@1@28@@oe@2-2-2013
21082003@unknown@formal@none@1@S@The program expires April 27.@@@@1@5@@oe@2-2-2013
21082004@unknown@formal@none@1@S@The restaurant operator had 32.2 million shares outstanding as of Sept. 29.@@@@1@12@@oe@2-2-2013
21083001@unknown@formal@none@1@S@Coda Energy Inc. said it completed the sale of Phenix-Transmission Co. to Bishop Pipeline Co., for $17 million in cash and notes.@@@@1@22@@oe@2-2-2013
21083002@unknown@formal@none@1@S@Coda, an oil and gas concern, said it and its partners received $7 million in cash and $10 million in five-year notes for the Kansas intrastate pipeline.@@@@1@27@@oe@2-2-2013
21083003@unknown@formal@none@1@S@Coda owned 60% of the pipeline and private entities owned the rest.@@@@1@12@@oe@2-2-2013
21083004@unknown@formal@none@1@S@Bishop is based in Hutchinson, Kansas.@@@@1@6@@oe@2-2-2013
21084001@unknown@formal@none@1@S@French consumer prices rose 0.2% in September from August, according to provisional estimates by the National Statistics Institute.@@@@1@18@@oe@2-2-2013
21084002@unknown@formal@none@1@S@The agency noted that because of a strike by Finance Ministry personnel the provisional estimate doesn't correspond exactly to the consumer price index usually published.@@@@1@25@@oe@2-2-2013
21084003@unknown@formal@none@1@S@The agency noted, however, the estimate will likely be confirmed.@@@@1@10@@oe@2-2-2013
21084004@unknown@formal@none@1@S@The institute didn't estimate annual price growth in September, but a 0.2% rise by the consumer price index would put growth at either 178.8 or 178.9, up 3.3% or 3.4% from the year-earlier level of 173.1.@@@@1@36@@oe@2-2-2013
21084005@unknown@formal@none@1@S@The index was 178.5 in August and is based on 1980 equaling 100.@@@@1@13@@oe@2-2-2013
21085001@unknown@formal@none@1@S@International Technology Corp. and Davy McKee Corp., a unit of London's Davy Corp., said they were awarded a $55 million contract by the U.S. Army Corps of Engineers for the closure of the Helen Kramer Landfill Superfund site in Mantua Township, N.J.@@@@1@42@@oe@2-2-2013
21085002@unknown@formal@none@1@S@International Technology, an environmental management concern, said the contract includes construction of slurry walls, gas collection systems, a multilayer cap and water treatment plant.@@@@1@24@@oe@2-2-2013
21086001@unknown@formal@none@1@S@U.S. Memories Inc., the venture that seeks to crack Japan's domination of the memory-chip market, said it has chosen four potential sites for its operations after a fierce bidding war by 15 states.@@@@1@33@@oe@2-2-2013
21086002@unknown@formal@none@1@S@U.S. Memories said it will begin visits during the next several weeks to sites in Austin, Texas; Colorado Springs, Colo.; Middletown, N.Y.; and Phoenix, Ariz.@@@@1@25@@oe@2-2-2013
21086003@unknown@formal@none@1@S@Sanford Kane, president, said the finalists were chosen from among 57 locations based on financial, business, and quality of life considerations.@@@@1@21@@oe@2-2-2013
21086004@unknown@formal@none@1@S@Conspicuous by its absence is California.@@@@1@6@@oe@2-2-2013
21086005@unknown@formal@none@1@S@San Jose and several other California cities mounted major campaigns during the summer to woo the group, which was founded last June by seven electronics concerns.@@@@1@26@@oe@2-2-2013
21086006@unknown@formal@none@1@S@The venture plans to announce a final site by late November.@@@@1@11@@oe@2-2-2013
21086007@unknown@formal@none@1@S@It expects to begin construction by year end and start shipping four-megabit dynamic random-access memory chips by mid-1991.@@@@1@18@@oe@2-2-2013
21086008@unknown@formal@none@1@S@U.S. Memories investors include Advanced Micro Devices Inc., Digital Equipment Corp., Hewlett-Packard Co., International Business Machines Corp., Intel Corp., LSI Logic Corp., and National Semiconductor Corp.@@@@1@26@@oe@2-2-2013
21086009@unknown@formal@none@1@S@Mr. Kane said he expects several other companies to join some time after the venture completes a business plan, probably later this week.@@@@1@23@@oe@2-2-2013
21087001@unknown@formal@none@1@S@A seat on the Chicago Board of Trade was sold for $390,000, unchanged from the previous sale Oct. 13.@@@@1@19@@oe@2-2-2013
21087002@unknown@formal@none@1@S@Seats currently are quoted at $361,000 bid, $395,000 asked.@@@@1@9@@oe@2-2-2013
21087003@unknown@formal@none@1@S@The record price for a full membership on the exchange is $550,000, set Aug. 31, 1987.@@@@1@16@@oe@2-2-2013
21088001@unknown@formal@none@1@S@Dennis R. Mangino, a general manager of EniChem Americas, was named vice president of research and development, a new post at this steel company.@@@@1@24@@oe@2-2-2013
21089001@unknown@formal@none@1@S@Fred D. Thompson, a 47-year-old attorney in private practice in Washington and Nashville, Tenn., was elected to the board of this engineering and construction company.@@@@1@25@@oe@2-2-2013
21089002@unknown@formal@none@1@S@The board increased to 11 seats.@@@@1@6@@oe@2-2-2013
21090001@unknown@formal@none@1@S@Sun Microsystems Inc. said Prime Computer Inc. has agreed to resell as much as $200 million worth of Sun's machines over the next two years.@@@@1@25@@oe@2-2-2013
21090002@unknown@formal@none@1@S@The computers use the company's own microprocessor called Sparc, Sun said.@@@@1@11@@oe@2-2-2013
21091001@unknown@formal@none@1@S@Quickview Systems Inc. said it filed a lawsuit against Apple Computer Inc., claiming patent infringement in an element of Apple's popular HyperCard software program.@@@@1@24@@oe@2-2-2013
21091002@unknown@formal@none@1@S@The suit, filed in Minneapolis federal court, claims that Apple violated a Quickview patent that allows computer users to display "only portions of multiple fields on a computer screen with the ability to see the entire contents of any given field."@@@@1@41@@oe@2-2-2013
21091003@unknown@formal@none@1@S@The HyperCard program allows users to design applications for Macintosh computers without having to be hardcore programmers and is distributed with every Macintosh sold.@@@@1@24@@oe@2-2-2013
21091004@unknown@formal@none@1@S@It's one of the most popular computer programs of all time, but analysts said the Quickview suit doesn't appear to bode major difficulties for Apple.@@@@1@25@@oe@2-2-2013
21091005@unknown@formal@none@1@S@The technology at issue "is not an underlying technology of HyperCard to my knowledge," said Danny Goodman, a San Francisco-area HyperCard program developer.@@@@1@23@@oe@2-2-2013
21091006@unknown@formal@none@1@S@Nonetheless, the suit seeks unspecified damages that an attorney for Quickview claimed could run into the millions of dollars.@@@@1@19@@oe@2-2-2013
21091007@unknown@formal@none@1@S@In Cupertino, Calif., Apple said that it believes the case has no merit, and that HyperCard does not infringe "any valid claims" of the Quickview patents.@@@@1@26@@oe@2-2-2013
21091008@unknown@formal@none@1@S@It said it filed an action of its own in federal court in San Jose, Calif., seeking a declaration that Quickview's claims are invalid.@@@@1@24@@oe@2-2-2013
21092001@unknown@formal@none@1@S@This is in response to Atsushi Kageyama's Manager's Journal, "Looking for the Real Thing in Sony" (editorial page, Oct. 2).@@@@1@20@@oe@2-2-2013
21092002@unknown@formal@none@1@S@Though I agree with many of Mr. Kageyama's comments, I believe he points the gun in the wrong direction: It isn't the Americans who must be criticized for not understanding the Japanese culture, but the Japanese who insist on forcing their culture on Americans.@@@@1@44@@oe@2-2-2013
21092003@unknown@formal@none@1@S@The Japanese want us to accept their culture, but they refuse to accept the American culture.@@@@1@16@@oe@2-2-2013
21092004@unknown@formal@none@1@S@Japanese managers can't expect Americans to behave as if they were Japanese; instead, they must manage Americans as Americans.@@@@1@19@@oe@2-2-2013
21092005@unknown@formal@none@1@S@Americans are expected to conform to the Japanese culture when in Japan.@@@@1@12@@oe@2-2-2013
21092006@unknown@formal@none@1@S@What is wrong with expecting the Japanese to conform to American norms when they locate here?@@@@1@16@@oe@2-2-2013
21092007@unknown@formal@none@1@S@Americans place native or native speakers in charge of subsidiaries overseas.@@@@1@11@@oe@2-2-2013
21092008@unknown@formal@none@1@S@European multinationals do likewise; even in America, their affiliates are usually run by American managers.@@@@1@15@@oe@2-2-2013
21092009@unknown@formal@none@1@S@But the Japanese insist upon Japanese managers everywhere they set up shop.@@@@1@12@@oe@2-2-2013
21092010@unknown@formal@none@1@S@Do the Japanese feel so superior that they cannot find capable American managers?@@@@1@13@@oe@2-2-2013
21092011@unknown@formal@none@1@S@Paul A. Herbig Indiana University Bloomington, Ind.@@@@1@7@@oe@2-2-2013
21092012@unknown@formal@none@1@S@Mr. Kageyama suggests that Kotobuki Electronics Industries workers were having difficulty understanding their foreign bosses' perspective.@@@@1@16@@oe@2-2-2013
21092013@unknown@formal@none@1@S@While Mr. Kageyama does an excellent job of explaining the differences, both cultural and philosophic, I question his perspective.@@@@1@19@@oe@2-2-2013
21092014@unknown@formal@none@1@S@Would he suggest that employees of an American company doing business in Japan conform to their new bosses' culture and philosophy?@@@@1@21@@oe@2-2-2013
21092015@unknown@formal@none@1@S@Obviously not.@@@@1@2@@oe@2-2-2013
21092016@unknown@formal@none@1@S@Thus the conclusion is that the burden rests with management to understand/adopt the culture and philosophy of the country in which they are operating.@@@@1@24@@oe@2-2-2013
21092017@unknown@formal@none@1@S@The workers can be motivated, and the company reach its full potential, only when management embraces the employees' perspective.@@@@1@19@@oe@2-2-2013
21092018@unknown@formal@none@1@S@A. Lawton Langford President Municipal Code Corp. Tallahassee, Fla.@@@@1@9@@oe@2-2-2013
21092019@unknown@formal@none@1@S@I believe Mr. Kageyama left out one major aspect of Japanese culture that permeated his piece: the belief in the superiority of Japanese culture and behavior vs. others.@@@@1@28@@oe@2-2-2013
21092020@unknown@formal@none@1@S@A manager should not have to rebut the opinions of his employees about the style of his management.@@@@1@18@@oe@2-2-2013
21092021@unknown@formal@none@1@S@Instead, he should listen to see how that criticism can be used constructively to advance his objective of carrying out a set of tasks through the efforts of his subordinates.@@@@1@30@@oe@2-2-2013
21092022@unknown@formal@none@1@S@Japanese culture vs. American culture is irrelevant.@@@@1@7@@oe@2-2-2013
21092023@unknown@formal@none@1@S@The key is how a manager from one culture can motivate employees from another.@@@@1@14@@oe@2-2-2013
21092024@unknown@formal@none@1@S@For Mr. Kageyama to argue that American employees must passively accept a direct imposition of the Japanese way of doing things is outright cultural chauvinism of the first order.@@@@1@29@@oe@2-2-2013
21092025@unknown@formal@none@1@S@The Japanese are neglecting the opportunity to synthesize a new corporate culture based on a fusion of the best aspects of both national cultures.@@@@1@24@@oe@2-2-2013
21092026@unknown@formal@none@1@S@Mr. Kageyama is accurate to deny a specific anti-American bias.@@@@1@10@@oe@2-2-2013
21092027@unknown@formal@none@1@S@It is more difficult to deny a general bigotry in seeing things only the Japanese way.@@@@1@16@@oe@2-2-2013
21092028@unknown@formal@none@1@S@When the response to criticism is only a better explanation of policies without altering the reasons for the criticism, I am convinced that Mr. Kageyama has still failed to attack the root cause of the problem and is simply treating symptoms.@@@@1@41@@oe@2-2-2013
21092029@unknown@formal@none@1@S@Norman L. Owens Tempe, Ariz.@@@@1@5@@oe@2-2-2013
21093001@unknown@formal@none@1@S@Cie. Generale des Eaux reported that net profit climbed 30% in the first half of 1989 and said that it expects a gain of about 25% for the full year.@@@@1@30@@oe@2-2-2013
21093002@unknown@formal@none@1@S@The French water treatment group said consolidated net profit after payments to minority interests rose to 749 million francs (US$119.2 million) from 575 million francs in the first half of 1988.@@@@1@31@@oe@2-2-2013
21093003@unknown@formal@none@1@S@Revenue climbed 13% to 45.4 billion francs from 40.1 billion.@@@@1@10@@oe@2-2-2013
21093004@unknown@formal@none@1@S@Generale des Eaux said the earnings gain was led by its water, energy and building activities.@@@@1@16@@oe@2-2-2013
21094001@unknown@formal@none@1@S@As a presidential candidate in 1980, George Bush forthrightly expressed his position on abortion in an interview with Rolling Stone magazine published that March.@@@@1@24@@oe@2-2-2013
21094002@unknown@formal@none@1@S@What did he think of the Supreme Court's decision legalizing abortion?@@@@1@11@@oe@2-2-2013
21094003@unknown@formal@none@1@S@"I happen to think it was right," Mr. Bush said flatly.@@@@1@11@@oe@2-2-2013
21094004@unknown@formal@none@1@S@A few months later, Mr. Bush became Ronald Reagan's running mate.@@@@1@11@@oe@2-2-2013
21094005@unknown@formal@none@1@S@Suddenly, George Bush the pro-choice advocate became George Bush the anti-abortionist.@@@@1@11@@oe@2-2-2013
21094006@unknown@formal@none@1@S@And the vacillation didn't end there.@@@@1@6@@oe@2-2-2013
21094007@unknown@formal@none@1@S@Just a month ago, Mr. Bush sternly threatened to veto a pending welfare bill if it provided any abortion funds, except to save a woman's life.@@@@1@26@@oe@2-2-2013
21094008@unknown@formal@none@1@S@Then, two weeks ago -- declaring that "I'm not looking for any conflict over this" -- the president said he would consider a compromise to fund abortions for poor women in cases of rape and incest.@@@@1@36@@oe@2-2-2013
21094009@unknown@formal@none@1@S@But only four days after that, Mr. Bush resurrected the veto threat.@@@@1@12@@oe@2-2-2013
21094010@unknown@formal@none@1@S@"I do not support federal funding for abortions except where the mother's life is threatened," he proclaimed, and finally vetoed the measure last weekend.@@@@1@24@@oe@2-2-2013
21094011@unknown@formal@none@1@S@So what does George Bush really believe?@@@@1@7@@oe@2-2-2013
21094012@unknown@formal@none@1@S@The answer is so murky that it is beginning to get this popular president in trouble with each of the increasingly vocal, increasingly powerful sides of the abortion issue.@@@@1@29@@oe@2-2-2013
21094013@unknown@formal@none@1@S@The result is mistrust and criticism from all around.@@@@1@9@@oe@2-2-2013
21094014@unknown@formal@none@1@S@Anti-abortion forces regard him as at best an uncertain ally.@@@@1@10@@oe@2-2-2013
21094015@unknown@formal@none@1@S@"In all honesty if you ask me, `Is this man a true believer?' I don't know," says John Fowler, head of the Washington-based Ad Hoc Committee in Defense of Life Inc.@@@@1@31@@oe@2-2-2013
21094016@unknown@formal@none@1@S@Yet abortion-rights forces remain bitterly critical.@@@@1@6@@oe@2-2-2013
21094017@unknown@formal@none@1@S@Douglas Gould, vice president of communications for the Planned Parenthood Federation of America, calls Mr. Bush's position on the abortion-funding issue "extremely cruel," adding: "The guy hasn't done one thing about prevention.@@@@1@32@@oe@2-2-2013
21094018@unknown@formal@none@1@S@He's totally geared to a punitive position."@@@@1@7@@oe@2-2-2013
21094019@unknown@formal@none@1@S@Mr. Bush is plainly uncomfortable with the entire abortion question.@@@@1@10@@oe@2-2-2013
21094020@unknown@formal@none@1@S@For most of the past nine years, he has striven to convince anti-abortion activists of his stalwart support for their position.@@@@1@21@@oe@2-2-2013
21094021@unknown@formal@none@1@S@But ever since the Supreme Court's Webster vs. Reproductive Health Services decision this year changed the political landscape of the abortion issue, the president seemingly has tried just as hard to avoid saying anything more unless pressed to the wall.@@@@1@40@@oe@2-2-2013
21094022@unknown@formal@none@1@S@Many Americans still agonize over their own personal feelings about abortion.@@@@1@11@@oe@2-2-2013
21094023@unknown@formal@none@1@S@Mr. Bush's problem isn't so much that he seems to be agonizing over the issue as it is that he seems to vacillate on it.@@@@1@25@@oe@2-2-2013
21094024@unknown@formal@none@1@S@The political risk would be far less if the president drew a firm line and hewed to it, experts insist.@@@@1@20@@oe@2-2-2013
21094025@unknown@formal@none@1@S@"If you have a position, you're better off to stick with it than to move around very much," says Republican strategist John Sears.@@@@1@23@@oe@2-2-2013
21094026@unknown@formal@none@1@S@The need for consistency is especially acute for Mr. Bush, who, Mr. Sears maintains, lacks a strong ideological base.@@@@1@19@@oe@2-2-2013
21094027@unknown@formal@none@1@S@By his moderate Republican heritage as well as the warnings of political advisers who say the issue is vital to younger voters, the president might seem to have at least some sympathy with abortion-rights arguments.@@@@1@35@@oe@2-2-2013
21094028@unknown@formal@none@1@S@Yet he is also firmly bound by his hard-line rhetoric and promises he made to anti-abortion activists during his long pursuit of the White House.@@@@1@25@@oe@2-2-2013
21094029@unknown@formal@none@1@S@On many issues -- flag-burning, for instance -- his keen political sensitivities overcome such conflicts.@@@@1@15@@oe@2-2-2013
21094030@unknown@formal@none@1@S@But Mr. Bush and his advisers miscalculated the politics of the abortion issue, failing to grasp how dramatically the abortion-rights movement would be aroused following last summer's Supreme Court decision to restrict those rights in the Webster case.@@@@1@38@@oe@2-2-2013
21094031@unknown@formal@none@1@S@"It was one of the quickest changes in public attitudes I've ever seen," says former Reagan pollster Richard Wirthlin.@@@@1@19@@oe@2-2-2013
21094032@unknown@formal@none@1@S@These days, when others raise the subject of abortion, the usually loquacious president can be close-mouthed almost to the point of curtness.@@@@1@22@@oe@2-2-2013
21094033@unknown@formal@none@1@S@Ten days ago he was asked to amplify the reasons behind his anti-abortion stance.@@@@1@14@@oe@2-2-2013
21094034@unknown@formal@none@1@S@"My position is well-known and well-stated," he replied.@@@@1@8@@oe@2-2-2013
21094035@unknown@formal@none@1@S@A close look at his record over the last 15 years suggests that Mr. Bush has well-stated his views -- on all sides of the issue.@@@@1@26@@oe@2-2-2013
21094036@unknown@formal@none@1@S@In 1974, as the U.S. representative to the United Nations, he wrote an introduction to a book on world population in which he boasted of his leadership during his term in Congress in expanding family-planning services for the poor.@@@@1@39@@oe@2-2-2013
21094037@unknown@formal@none@1@S@Running for president in early 1980, he was also quoted as supporting federal funding for abortions in cases of rape, incest and to save the life of the mother.@@@@1@29@@oe@2-2-2013
21094038@unknown@formal@none@1@S@In his Rolling Stone interview in 1980, Mr. Bush volunteered his abortion-rights remarks to contrast himself with his rival, Ronald Reagan.@@@@1@21@@oe@2-2-2013
21094039@unknown@formal@none@1@S@In addition to supporting the landmark Roe vs. Wade Supreme Court decision legalizing abortion, Mr. Bush said he opposed the constitutional ban on abortion that Mr. Reagan was promising to promote.@@@@1@31@@oe@2-2-2013
21094040@unknown@formal@none@1@S@As Mr. Reagan's running mate, though, Mr. Bush plunged headlong into the anti-abortion position, endorsing a constitutional amendment outlawing abortion.@@@@1@20@@oe@2-2-2013
21094041@unknown@formal@none@1@S@He acknowledged only one difference with Mr. Reagan -- that the amendment ought to have exceptions for rape and incest as well as to save a woman's life.@@@@1@28@@oe@2-2-2013
21094042@unknown@formal@none@1@S@Throughout the early 1980s, Mr. Bush was quoted sometimes supporting federal funding for abortion in cases of rape and incest and sometimes opposing it.@@@@1@24@@oe@2-2-2013
21094043@unknown@formal@none@1@S@In April 1986, then-Vice President Bush had his staff write a letter spelling out that he would support a constitutional amendment banning abortions except in cases of rape, incest and life endangerment, but that he opposed federal funding in all but the latter case.@@@@1@44@@oe@2-2-2013
21094044@unknown@formal@none@1@S@At the GOP convention last year, he again came out for an amendment with exceptions for rape, incest and life endangerment.@@@@1@21@@oe@2-2-2013
21094045@unknown@formal@none@1@S@His rhetoric gathered momentum as he rolled into office, affirming his "firm support of our cause" during an anti-abortion rally three days after his inauguration last January.@@@@1@27@@oe@2-2-2013
21094046@unknown@formal@none@1@S@He again urged passage of a constitutional amendment outlawing abortion.@@@@1@10@@oe@2-2-2013
21094047@unknown@formal@none@1@S@But when the high court ruled in the Webster case in July, the president began to lower the volume.@@@@1@19@@oe@2-2-2013
21094048@unknown@formal@none@1@S@When the ruling was handed down, the vacationing president dispatched Chief of Staff John Sununu to issue a statement and refused to answer questions himself.@@@@1@25@@oe@2-2-2013
21094049@unknown@formal@none@1@S@He did later threaten vetoes over legislation restoring the District of Columbia's right to use its own tax money to fund abortions for poor women and over restoring funding to the United Nations Population Fund.@@@@1@35@@oe@2-2-2013
21094050@unknown@formal@none@1@S@But in the months since then, while trying to drum up support for other issues -- such as an anti-flag-burning constitutional amendment -- he has shied away from talking about abortion.@@@@1@31@@oe@2-2-2013
21094051@unknown@formal@none@1@S@What few comments he has initiated have been oblique, such as urging "greater efforts toward the protection of human life" at a meeting of Catholic lawyers in Boston last month.@@@@1@30@@oe@2-2-2013
21094052@unknown@formal@none@1@S@The White House has likewise avoided any involvement in Florida's recent special legislative session on abortion, which anti-abortion forces had regarded as a key test of their ability to get state lawmakers to toughen abortion restrictions.@@@@1@36@@oe@2-2-2013
21094053@unknown@formal@none@1@S@The session failed to enact any new curbs.@@@@1@8@@oe@2-2-2013
21094054@unknown@formal@none@1@S@Now, some see Mr. Bush trapped in a position he is neither comfortable with nor able to escape.@@@@1@18@@oe@2-2-2013
21094055@unknown@formal@none@1@S@Ken Ruberg, head of the Republican Mainstream Committee, a group of party moderates, observes: "The administration finds itself in an ideological cul de sac that it will find it difficult -- if not impossible -- to get itself out of.@@@@1@40@@oe@2-2-2013
21095001@unknown@formal@none@1@S@Christopher Cox's Oct. 13 editorial-page article "Toward More Crippling Lawsuits . . ." misses the point.@@@@1@16@@oe@2-2-2013
21095002@unknown@formal@none@1@S@The 1989 Americans With Disabilities Act is about eliminating discriminatory barriers.@@@@1@11@@oe@2-2-2013
21095003@unknown@formal@none@1@S@When we look closely at our own history, it is clear that our constitutionally mandated civil rights have evolved not through the goodness of people's hearts but through legislation and constitutional amendments.@@@@1@32@@oe@2-2-2013
21095004@unknown@formal@none@1@S@This is how American women won the right to vote.@@@@1@10@@oe@2-2-2013
21095005@unknown@formal@none@1@S@And it is how African-Americans and other minority groups were guaranteed their equal rights as citizens in this nation.@@@@1@19@@oe@2-2-2013
21095006@unknown@formal@none@1@S@For the more than 43 million Americans with disabilities, the 1989 Americans With Disabilities Act provides the missing piece.@@@@1@19@@oe@2-2-2013
21095007@unknown@formal@none@1@S@Disabled Americans have had their civil rights guaranteed in all federally funded programs since Section 504 was passed as a part of the 1973 Rehabilitation Act.@@@@1@26@@oe@2-2-2013
21095008@unknown@formal@none@1@S@The 1989 act simply extends these guarantees to the private sector.@@@@1@11@@oe@2-2-2013
21095009@unknown@formal@none@1@S@Those who fear a plethora of suits paralyzing our legal system need only look at the record on the Rehabilitation Act.@@@@1@21@@oe@2-2-2013
21095010@unknown@formal@none@1@S@Without legal recourse, there are no guarantees of civil rights for anyone.@@@@1@12@@oe@2-2-2013
21095011@unknown@formal@none@1@S@John R. Garrison President National Easter Seal Society@@@@1@8@@oe@2-2-2013
21096001@unknown@formal@none@1@S@Ford Motor Co. said it is consolidating control of its Asian operations under a new organization here that will be headed by W. Wayne Booker.@@@@1@25@@oe@2-2-2013
21096002@unknown@formal@none@1@S@Ford Asia-Pacific will coordinate the activities of Ford subsidiaries in Japan, Australia, Taiwan and New Zealand and work with Ford business associates throughout the region.@@@@1@25@@oe@2-2-2013
21096003@unknown@formal@none@1@S@These functions are currently performed out of Melbourne, Australia, and at Ford's headquarters in Dearborn, Mich.@@@@1@16@@oe@2-2-2013
21096004@unknown@formal@none@1@S@Mr. Booker, executive director of Ford's Latin America Automotive Operations since December 1988, was named vice president of Ford Asia-Pacific.@@@@1@20@@oe@2-2-2013
21097001@unknown@formal@none@1@S@Goodyear Tire & Rubber Co., buoyed by improved operating profit in its tire segment, reported that third-quarter net income rose 11% to $70.5 million, or $1.22 a share.@@@@1@28@@oe@2-2-2013
21097002@unknown@formal@none@1@S@In the year-ago period, Goodyear had net of $63.5 million, or $1.11 a share.@@@@1@14@@oe@2-2-2013
21097003@unknown@formal@none@1@S@Sales rose slightly to $2.68 billion, from $2.66 billion.@@@@1@9@@oe@2-2-2013
21097004@unknown@formal@none@1@S@Analysts had mixed responses to the results.@@@@1@7@@oe@2-2-2013
21097005@unknown@formal@none@1@S@Donald DeScenza, an independent analyst in New Canaan, Conn., said he was "impressed with the company's performance."@@@@1@17@@oe@2-2-2013
21097006@unknown@formal@none@1@S@He said results were better than he'd expected and indicate that Goodyear is in the midst of a turnaround from a string of lackluster quarters that have plagued the company for a year.@@@@1@33@@oe@2-2-2013
21097007@unknown@formal@none@1@S@However, Harry Millis, an analyst at McDonald & Co., Cleveland, said Goodyear's results "fell at the bottom" of his range of estimates.@@@@1@22@@oe@2-2-2013
21097008@unknown@formal@none@1@S@Excluding an increase in the tax rate and the effects of foreign currency translations, Mr. Millis said the company's results "were still a little disappointing."@@@@1@25@@oe@2-2-2013
21097009@unknown@formal@none@1@S@Goodyear's stock, which has been weak in recent weeks, fell $2.875 yesterday to close at $43.875 a share in composite trading on the New York Stock Exchange.@@@@1@27@@oe@2-2-2013
21097010@unknown@formal@none@1@S@The Akron, Ohio-based company said pretax operating income in its tire segment jumped about 31% to $196.2 million from $150.2 million a year earlier, reflecting improvements in raw material costs, sales of replacement tires and pricing.@@@@1@36@@oe@2-2-2013
21097011@unknown@formal@none@1@S@McDonald's Mr. Millis said Goodyear appeared to have held or gained some market share in the U.S. for the first time since the second quarter of 1988.@@@@1@27@@oe@2-2-2013
21097012@unknown@formal@none@1@S@But Goodyear said total U.S. tire unit sales were off about 2%.@@@@1@12@@oe@2-2-2013
21097013@unknown@formal@none@1@S@Total tire segment sales were up only about 1% to $2.2 billion, and the company said it reduced manufacturing levels at some of its U.S. tire plants because of inventory adjustments and slackened production by auto makers.@@@@1@37@@oe@2-2-2013
21097014@unknown@formal@none@1@S@In the latest quarter, Goodyear's tax rate was 51% compared with 41% a year earlier.@@@@1@15@@oe@2-2-2013
21097015@unknown@formal@none@1@S@As a result, total tax outlays were $73.5 million, compared with $44.1 million the year earlier.@@@@1@16@@oe@2-2-2013
21097016@unknown@formal@none@1@S@For the nine months, profit skidded about 35%, reflecting charges taken in this year's second quarter and the effect of translations of weaker foreign currencies into the stronger U.S. dollar.@@@@1@30@@oe@2-2-2013
21097017@unknown@formal@none@1@S@Net was $192.1 million, or $3.33 a share, compared with net of $293.7 million, or $5.13 a share, the year earlier.@@@@1@21@@oe@2-2-2013
21097018@unknown@formal@none@1@S@The latest nine months included charges of $95 million related to the company's South African subsidiary and unused pipe sold by its crude oil pipeline unit.@@@@1@26@@oe@2-2-2013
21097019@unknown@formal@none@1@S@Sales rose nearly 2% to $8.13 billion from $7.98 billion.@@@@1@10@@oe@2-2-2013
21098001@unknown@formal@none@1@S@Environmental Control Group Inc. said it expects to report "minimal" earnings or a loss for the third quarter.@@@@1@18@@oe@2-2-2013
21098002@unknown@formal@none@1@S@The environmental services company said that the discontinuation of unsuccessful product lines and an increase in baddebt reserves probably will result in charges of $2.5 million to $4 million, most of which will be taken against third-quarter results.@@@@1@38@@oe@2-2-2013
21098003@unknown@formal@none@1@S@In the year-ago quarter, the company reported earnings of $2.2 million, or 35 cents a share.@@@@1@16@@oe@2-2-2013
21099001@unknown@formal@none@1@S@Former USX Corp. Chairman David M. Roderick may have been lucky he retired last May.@@@@1@15@@oe@2-2-2013
21099002@unknown@formal@none@1@S@As he handed over the reins to successor Charles A. Corry, steel profits were close to a cyclical peak.@@@@1@19@@oe@2-2-2013
21099003@unknown@formal@none@1@S@Though imports were troublesome, they weren't running away with the market, and American companies had high hopes that steel import quotas would be extended for another five years.@@@@1@28@@oe@2-2-2013
21099004@unknown@formal@none@1@S@Perhaps most important, Carl Icahn, who had once threatened a hostile takeover bid, was subdued.@@@@1@15@@oe@2-2-2013
21099005@unknown@formal@none@1@S@He and Mr. Roderick were even dining out together.@@@@1@9@@oe@2-2-2013
21099006@unknown@formal@none@1@S@Today, Mr. Corry presides over a company whose fortunes have changed abruptly.@@@@1@12@@oe@2-2-2013
21099007@unknown@formal@none@1@S@Mr. Icahn, the company's deep-pocketed, tenacious adversary, recently disclosed that he had raised his USX stake to 13.1%, and he again threatened a takeover.@@@@1@24@@oe@2-2-2013
21099008@unknown@formal@none@1@S@A battle with Mr. Icahn would rattle even the most seasoned chief executive, to say nothing of one who took the helm less than five months ago.@@@@1@27@@oe@2-2-2013
21099009@unknown@formal@none@1@S@In addition, USX's giant steel segment, representing 34% of its 1988 sales, is facing softening demand and slipping prices as well as increasing competition from foreign steelmakers and low-cost minimills.@@@@1@30@@oe@2-2-2013
21099010@unknown@formal@none@1@S@The import quotas got only a 2 1/2-year extension, and USX is laboring under a staggering $5.8 billion debt at a time when it must spend money to upgrade steel mills and drill for oil.@@@@1@35@@oe@2-2-2013
21099011@unknown@formal@none@1@S@"It's a baptism of fire for Corry," says one USX executive.@@@@1@11@@oe@2-2-2013
21099012@unknown@formal@none@1@S@The burning question is whether the new chief can parry Mr. Icahn without being pushed into unwelcome moves.@@@@1@18@@oe@2-2-2013
21099013@unknown@formal@none@1@S@Mr. Corry might have to dismember the company more than he wants to.@@@@1@13@@oe@2-2-2013
21099014@unknown@formal@none@1@S@Or he might have to incur a huge expense of either buying Mr. Icahn's stock, possibly at a premium, or paying stockholders a special dividend partly because of Mr. Icahn's pressure.@@@@1@31@@oe@2-2-2013
21099015@unknown@formal@none@1@S@With his recent purchases of USX common stock, Mr. Icahn shattered a three-year-old, unwritten standstill agreement with Mr. Roderick.@@@@1@19@@oe@2-2-2013
21099016@unknown@formal@none@1@S@In 1986, Mr. Roderick adroitly dodged Mr. Icahn's first bullet after the takeover specialist had built up an 11.4% stake.@@@@1@20@@oe@2-2-2013
21099017@unknown@formal@none@1@S@Mr. Roderick did so by having USX redeem a series of guaranteed notes, a move that, in effect, raised the cost of a $7.19 billion Icahn bid by about $3 billion.@@@@1@31@@oe@2-2-2013
21099018@unknown@formal@none@1@S@And he managed to fend off further advances and even strike up an unlikely friendship with the interloper.@@@@1@18@@oe@2-2-2013
21099019@unknown@formal@none@1@S@Over dinners at New York's Sky Club and Links Club restaurants, the steel executive and the big investor talked steel, international trade and thoroughbred horses.@@@@1@25@@oe@2-2-2013
21099020@unknown@formal@none@1@S@Mr. Corry, who has boned up on corporate raiders by reading T. Boone Pickens's autobiography, had hoped the detente would continue.@@@@1@21@@oe@2-2-2013
21099021@unknown@formal@none@1@S@He was shocked, associates say, to learn of Mr. Icahn's new takeover threat.@@@@1@13@@oe@2-2-2013
21099022@unknown@formal@none@1@S@(Both men declined to be interviewed for this article.)@@@@1@9@@oe@2-2-2013
21099023@unknown@formal@none@1@S@But the fiercely competitive Mr. Corry quickly showed he's no pushover.@@@@1@11@@oe@2-2-2013
21099024@unknown@formal@none@1@S@He huddled with directors at a special meeting two weeks ago and tried to block his opponent.@@@@1@17@@oe@2-2-2013
21099025@unknown@formal@none@1@S@Although the board believed that Mr. Icahn is more interested in talking the stock price higher than acquiring USX, it adopted a poison-pill defense, to be swallowed if anyone amasses a 15% stake.@@@@1@33@@oe@2-2-2013
21099026@unknown@formal@none@1@S@Now, it's Mr. Icahn's move.@@@@1@5@@oe@2-2-2013
21099027@unknown@formal@none@1@S@Will he try to gain a seat on or control of the board and force a radical split of USX into separate oil and steel companies?@@@@1@26@@oe@2-2-2013
21099028@unknown@formal@none@1@S@Given the weakness of the junk-bond market, can he finance a buy-out?@@@@1@12@@oe@2-2-2013
21099029@unknown@formal@none@1@S@Mr. Icahn may not want to sell out unless he can get a special dividend similar to one he received before selling his stake in Texaco Inc. in June -- a coup that gave him enough cash to make his USX move.@@@@1@42@@oe@2-2-2013
21099030@unknown@formal@none@1@S@And although the recent turmoil in the stock and junk-bond markets, by making it harder to arrange takeover financing, has eased some of the pressure on Mr. Corry, it doesn't end the takeover threat.@@@@1@34@@oe@2-2-2013
21099031@unknown@formal@none@1@S@"I know it's not over," a sober-faced Mr. Corry acknowledged while greeting steel suppliers in New York on Oct. 12 and inviting them to a buffet of salmon and sushi in honor of Kobe Steel Ltd., USX's partner in a steel mill in Lorain, Ohio.@@@@1@45@@oe@2-2-2013
21099032@unknown@formal@none@1@S@In fact, it's barely begun for Mr. Corry, who faces tough decisions before he has had a chance to get settled into his new job.@@@@1@25@@oe@2-2-2013
21099033@unknown@formal@none@1@S@"He's in a vulnerable position because he hasn't established much credibility on his own," says Bryan Jacoboski, a securities analyst at PaineWebber Inc.@@@@1@23@@oe@2-2-2013
21099034@unknown@formal@none@1@S@The 57-year-old tax attorney never even aspired to the job of chief executive.@@@@1@13@@oe@2-2-2013
21099035@unknown@formal@none@1@S@An undistinguished college student who dabbled in zoology until he concluded that he couldn't stand cutting up frogs, Mr. Corry wanted to work for a big company "that could do big things."@@@@1@32@@oe@2-2-2013
21099036@unknown@formal@none@1@S@But after joining the tax department of a USX subsidiary 30 years ago, he set the modest goal of becoming tax manager by the age of 46.@@@@1@27@@oe@2-2-2013
21099037@unknown@formal@none@1@S@For years, he quietly stuck to the back accounting rooms, wearing a hat to work because everyone else did.@@@@1@19@@oe@2-2-2013
21099038@unknown@formal@none@1@S@"I was never a rebel," he said in an earlier interview.@@@@1@11@@oe@2-2-2013
21099039@unknown@formal@none@1@S@"I don't think most of the people that have been around me would ever say they've seen me pound the table or get angry."@@@@1@24@@oe@2-2-2013
21099040@unknown@formal@none@1@S@Yet, the unassuming Mr. Corry helped chart USX's transition from Big Steel to Big Oil.@@@@1@15@@oe@2-2-2013
21099041@unknown@formal@none@1@S@He served as Mr. Roderick's front man in tense negotiations for the 1982 purchase of Marathon Oil for $5.9 billion.@@@@1@20@@oe@2-2-2013
21099042@unknown@formal@none@1@S@Nevertheless, Mr. Corry, once named chief executive, didn't waste any time distancing himself from his former boss, who still has an office on the 62nd floor of the USX tower in Pittsburgh.@@@@1@32@@oe@2-2-2013
21099043@unknown@formal@none@1@S@Soon after taking over last June, Mr. Corry rescinded a pay cut imposed on clerical workers, a move that Mr. Roderick hadn't made in spite of improved earnings.@@@@1@28@@oe@2-2-2013
21099044@unknown@formal@none@1@S@Mr. Corry also ruled that all board meetings would be held in Pittsburgh instead of New York or Findlay, Ohio, Marathon's home.@@@@1@22@@oe@2-2-2013
21099045@unknown@formal@none@1@S@And, earlier this month, he announced the sale of the reserves of Texas Oil & Gas, which was acquired three years ago and hasn't posted any significant operating profits since.@@@@1@30@@oe@2-2-2013
21099046@unknown@formal@none@1@S@One former executive says, "Nobody wanted that deal inside USX except Dave Roderick," who was a hunting and fishing buddy of William L. Hutchison, chairman of Texas Oil & Gas.@@@@1@30@@oe@2-2-2013
21099047@unknown@formal@none@1@S@The executive recalls Mr. Corry whispering to him and others, "Remember, this was Dave's deal."@@@@1@15@@oe@2-2-2013
21099048@unknown@formal@none@1@S@What miffed many USX executives and shareholders was that the acquisition, for $3 billion of stock, doubled the USX shares outstanding and considerably diluted them.@@@@1@25@@oe@2-2-2013
21099049@unknown@formal@none@1@S@What's more, the takeover occurred as natural-gas prices were falling and just as Texas Oil & Gas reported its first annual loss in 28 years.@@@@1@25@@oe@2-2-2013
21099050@unknown@formal@none@1@S@Mr. Corry expected the Texas Oil & Gas sale to delight Mr. Icahn by addressing his concern about boosting shareholder value.@@@@1@21@@oe@2-2-2013
21099051@unknown@formal@none@1@S@But when the two men met in New York a day after Mr. Icahn disclosed the rise in his USX stake, Mr. Corry learned that Mr. Icahn wanted him to sell all of Texas Oil -- not just its reserves of about 1.2 trillion cubic feet of natural gas and 28 million barrels of oil but also its pipeline, gas-gathering and contract-drilling operations.@@@@1@63@@oe@2-2-2013
21099052@unknown@formal@none@1@S@That would leave USX with Marathon, its steel mills and its diversified business segment, which includes, among other things, mineral and transportation products.@@@@1@23@@oe@2-2-2013
21099053@unknown@formal@none@1@S@Some speculate that Mr. Corry would agree if he could find a buyer at the right price.@@@@1@17@@oe@2-2-2013
21099054@unknown@formal@none@1@S@The problem is that Mr. Icahn is pushing him to move faster and further in restructuring USX than Mr. Corry had planned.@@@@1@22@@oe@2-2-2013
21099055@unknown@formal@none@1@S@Mr. Icahn has long believed, associates say, that the company, whose 1988 sales totaled $16.88 billion, is worth $70 a share if broken up.@@@@1@24@@oe@2-2-2013
21099056@unknown@formal@none@1@S@The stock closed yesterday at $33.625, giving Mr. Icahn's 33.6 million shares a value of $1.13 billion.@@@@1@17@@oe@2-2-2013
21099057@unknown@formal@none@1@S@Mr. Icahn advocates the sale of the company's steel operations, and Mr. Corry doesn't necessarily disagree.@@@@1@16@@oe@2-2-2013
21099058@unknown@formal@none@1@S@Unlike his predecessor, who saw steel as America's backbone, Mr. Corry tends to view it as a capital-draining and labor-intensive business with limited potential, associates say.@@@@1@26@@oe@2-2-2013
21099059@unknown@formal@none@1@S@In the past five years, USX has turned steel into a profit maker by closing several plants and reducing labor costs.@@@@1@21@@oe@2-2-2013
21099060@unknown@formal@none@1@S@But the short-term outlook is so-so.@@@@1@6@@oe@2-2-2013
21099061@unknown@formal@none@1@S@It isn't surprising that Messrs. Roderick and Corry view steel so differently.@@@@1@12@@oe@2-2-2013
21099062@unknown@formal@none@1@S@While Mr. Roderick was reared in the shadows of Pittsburgh's smoking mills, Mr. Corry grew up in Cincinnati, a city nicknamed "Porkapolis" and more accustomed to pork chops than pig iron.@@@@1@31@@oe@2-2-2013
21099063@unknown@formal@none@1@S@He has never met Lynn Williams, the president of the United Steelworkers union, and isn't active in the industry's main trade group, the American Iron and Steel Institute, which Mr. Roderick served as chairman.@@@@1@34@@oe@2-2-2013
21099064@unknown@formal@none@1@S@"Dave thought the country needed a strong U.S. Steel and, while Chuck agreed, he was more apt to say, `Not at any cost to shareholders,'" a former executive says.@@@@1@29@@oe@2-2-2013
21099065@unknown@formal@none@1@S@Indeed, Mr. Corry, at an August press conference, talked about investing in steel as long as it provides a good return and "not a day longer."@@@@1@26@@oe@2-2-2013
21099066@unknown@formal@none@1@S@However, shedding steel would run directly counter to Mr. Roderick's original rationale for diversifying into oil and gas: Having two major products would lessen the company's vulnerability to one market's down cycle and help smooth out the flow of cash and earnings.@@@@1@42@@oe@2-2-2013
21099067@unknown@formal@none@1@S@As Mr. Roderick once said: "We're a two-product company and, boy, if you can't figure out the value of those two parts, you are so damn dumb that you don't belong on Wall Street."@@@@1@34@@oe@2-2-2013
21099068@unknown@formal@none@1@S@Moreover, the opportunity to sell steel at a price acceptable to USX may be gone, for now.@@@@1@17@@oe@2-2-2013
21099069@unknown@formal@none@1@S@"The time has passed for us to spin off steel," either in a public offering or to a buyer, one executive contends.@@@@1@22@@oe@2-2-2013
21099070@unknown@formal@none@1@S@About the only way that USX now can get out of steel is to dish it out, piece by piece, in separate joint ventures, he adds.@@@@1@26@@oe@2-2-2013
21099071@unknown@formal@none@1@S@With Mr. Icahn breathing down his neck, however, Mr. Corry may have little choice but to sell at a weak price, even if it means losing some steel-related tax-loss carryforwards.@@@@1@30@@oe@2-2-2013
21099072@unknown@formal@none@1@S@That would leave USX essentially an oil company with Marathon as its core.@@@@1@13@@oe@2-2-2013
21099073@unknown@formal@none@1@S@Marathon has benefited from higher crude-oil prices and strong demand for refined products.@@@@1@13@@oe@2-2-2013
21099074@unknown@formal@none@1@S@Oil has long been Mr. Corry's pet.@@@@1@7@@oe@2-2-2013
21099075@unknown@formal@none@1@S@Indeed, when the Bush administration finally decided this summer to renew import restrictions -- arguably the most important decision to affect the steel industry in five years -- Mr. Corry and his directors were aboard helicopters, high above Marathon's rich oil reserves in the North Sea.@@@@1@46@@oe@2-2-2013
21099076@unknown@formal@none@1@S@Should USX be left with only Marathon, Mr. Corry might well feel pushed to scout out other energy companies.@@@@1@19@@oe@2-2-2013
21099077@unknown@formal@none@1@S@However, even USX executives who work closely with him aren't sure about his long-term goals.@@@@1@15@@oe@2-2-2013
21099078@unknown@formal@none@1@S@"I don't think he has a clear sense of where he wants the company to go," one says.@@@@1@18@@oe@2-2-2013
21099079@unknown@formal@none@1@S@Right now, the executive adds, "he wants to continue to focus on paying down" USX's debt by selling assets.@@@@1@19@@oe@2-2-2013
21099080@unknown@formal@none@1@S@One thing is certain, however: Mr. Corry, while studying other options, probably won't make a major move until he's clear about Mr. Icahn's intentions.@@@@1@24@@oe@2-2-2013
21099081@unknown@formal@none@1@S@And then, "he won't panic," says J. Bruce Johnston, a former USX executive and now a labor and benefit consultant with Adler Cohen & Grigsby in Pittsburgh.@@@@1@27@@oe@2-2-2013
21099082@unknown@formal@none@1@S@Mr. Corry learned presence under fire when, as vice president of corporate planning, he handled what Mr. Johnston calls "don't-con-me" negotiations that led to USX's shedding of a wide array of assets ranging from chemicals to construction.@@@@1@37@@oe@2-2-2013
21099083@unknown@formal@none@1@S@When negotiating, Mr. Corry played his cards close to the vest.@@@@1@11@@oe@2-2-2013
21099084@unknown@formal@none@1@S@Johnnie Johnson, who worked for Mr. Corry in strategic planning, recalls how his boss would routinely ask a subordinate to research an entire industry to target acquisition candidates.@@@@1@28@@oe@2-2-2013
21099085@unknown@formal@none@1@S@"What he really wanted to know was about a particular company, but you didn't know that.@@@@1@16@@oe@2-2-2013
21099086@unknown@formal@none@1@S@He wanted your own unbiased, virgin opinion," says Mr. Johnson, now managing director at Georgeson & Co., a proxy-solicitation and investor-relations firm.@@@@1@22@@oe@2-2-2013
21099087@unknown@formal@none@1@S@Ever the pragmatist, Mr. Corry said in August that he realized that USX is on "acquisition screens all over the country."@@@@1@21@@oe@2-2-2013
21099088@unknown@formal@none@1@S@"It's part of the capitalistic market system that equity can be bought and equity is bought," he said.@@@@1@18@@oe@2-2-2013
21099089@unknown@formal@none@1@S@USX, he noted, was formed 88 years ago, "by in effect buying out a bunch of other companies. . . .@@@@1@21@@oe@2-2-2013
21099090@unknown@formal@none@1@S@People got rich through takeovers in those days, as they do today."@@@@1@12@@oe@2-2-2013
21099091@unknown@formal@none@1@S@Thomas F. O'Boyle contributed to this article.@@@@1@7@@oe@2-2-2013
21100001@unknown@formal@none@1@S@Westinghouse Electric Corp. said it will buy Shaw-Walker Co.@@@@1@9@@oe@2-2-2013
21100002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21100003@unknown@formal@none@1@S@Shaw-Walker, based in Muskegon, Mich., makes metal files and desks, and seating and office systems furniture.@@@@1@16@@oe@2-2-2013
21101001@unknown@formal@none@1@S@Israel has launched a new effort to prove the Palestine Liberation Organization continues to practice terrorism, and thus to persuade the U.S. to break off talks with the group.@@@@1@29@@oe@2-2-2013
21101002@unknown@formal@none@1@S@U.S. officials, however, said they aren't buying the Israeli argument.@@@@1@10@@oe@2-2-2013
21101003@unknown@formal@none@1@S@Israeli counterterrorism officials provided the State Department with a 20-page list of recent terrorist incidents they attribute directly to forces controlled by PLO Chairman Yasser Arafat.@@@@1@26@@oe@2-2-2013
21101004@unknown@formal@none@1@S@Mr. Arafat publicly renounced terrorism Dec. 15, satisfying the U.S. precondition for a direct "dialogue" with the PLO.@@@@1@18@@oe@2-2-2013
21101005@unknown@formal@none@1@S@A U.S. counterterrorism official said experts are studying the Israeli list.@@@@1@11@@oe@2-2-2013
21101006@unknown@formal@none@1@S@"We have no independent evidence linking Fatah to any acts of terrorism since Dec. 15, 1988," he said, referring to the specific PLO group that Mr. Arafat heads.@@@@1@28@@oe@2-2-2013
21101007@unknown@formal@none@1@S@"So far, this list doesn't change our view.@@@@1@8@@oe@2-2-2013
21101008@unknown@formal@none@1@S@Israel wants to end the dialogue, but our analysts take a different view than theirs."@@@@1@15@@oe@2-2-2013
21101009@unknown@formal@none@1@S@Israeli Prime Minister Yitzhak Shamir's top adviser on counterterrorism, Yigal Carmon, was here Monday to present the report to members of Congress, reporters and others.@@@@1@25@@oe@2-2-2013
21101010@unknown@formal@none@1@S@Mr. Carmon said he also presented the list last week to William Brown, U.S. Ambassador to Israel.@@@@1@17@@oe@2-2-2013
21101011@unknown@formal@none@1@S@Separately, the New York Times reported that the Israeli government had provided its correspondent in Jerusalem with different documents that Israel said prove the PLO has been conducting terrorism from the occupied Arab territories.@@@@1@34@@oe@2-2-2013
21101012@unknown@formal@none@1@S@The State Department said it hasn't yet seen copies of those papers.@@@@1@12@@oe@2-2-2013
21101013@unknown@formal@none@1@S@"If the dialogue was based on the assumption that Arafat or the PLO would stop terrorism, and we have evidence of continued terrorism, what would be the logical conclusion?" Mr. Carmon asked.@@@@1@32@@oe@2-2-2013
21101014@unknown@formal@none@1@S@Israel has long claimed Mr. Arafat never meant to renounce terrorism, particularly because he and his lieutenants reserved the right to press "armed struggle" against the Jewish state.@@@@1@28@@oe@2-2-2013
21101015@unknown@formal@none@1@S@Now, Jerusalem says it is backing up its contention with detailed accounts of alleged terrorist acts and plans linked to Mr. Arafat.@@@@1@22@@oe@2-2-2013
21101016@unknown@formal@none@1@S@It blames most of these on Fatah.@@@@1@7@@oe@2-2-2013
21101017@unknown@formal@none@1@S@The new accusations come at a delicate time in U.S. efforts to bring about talks between Israel and Palestinian representatives.@@@@1@20@@oe@2-2-2013
21101018@unknown@formal@none@1@S@The State Department said it had received a new letter on the subject from Israeli Foreign Minister Moshe Arens, restating Israel's previous objection to negotiating with any Palestinian tied to the PLO.@@@@1@32@@oe@2-2-2013
21101019@unknown@formal@none@1@S@Deciding what constitutes "terrorism" can be a legalistic exercise.@@@@1@9@@oe@2-2-2013
21101020@unknown@formal@none@1@S@The U.S. defines it as "premediated, politically motivated violence perpetrated against noncombatant targets by subnational groups or clandestine state agents."@@@@1@20@@oe@2-2-2013
21101021@unknown@formal@none@1@S@To meet the U.S. criteria, Israel contended it only listed incidents that involved civilians and occurred inside its pre-1967 borders.@@@@1@20@@oe@2-2-2013
21101022@unknown@formal@none@1@S@At the heart of Israel's report is a list of a dozen incidents Jerusalem attributes to Fatah, including the use of bombs and Molotov cocktails.@@@@1@25@@oe@2-2-2013
21101023@unknown@formal@none@1@S@But U.S. officials say they aren't satisfied these incidents constitute terrorism because they may be offshoots of the intifadah, the Palestinian rebellion in the occupied territories, which the U.S. doesn't classify as terrorism.@@@@1@33@@oe@2-2-2013
21101024@unknown@formal@none@1@S@In addition, the officials say Israel hasn't presented convincing evidence these acts were ordered by Fatah or by any group Mr. Arafat controls.@@@@1@23@@oe@2-2-2013
21101025@unknown@formal@none@1@S@U.S. terrorism experts also say they are highly uncertain about the veracity of the separate documents leaked to the New York Times.@@@@1@22@@oe@2-2-2013
21101026@unknown@formal@none@1@S@The papers, which Israel says were discovered in Israeli-occupied Gaza, refer to terrorist acts to be carried out in the name of a group called "the Revolutionary Eagles."@@@@1@28@@oe@2-2-2013
21101027@unknown@formal@none@1@S@Some supporters of Israel say U.S. policy on Palestinian terrorism is colored by an intense desire to maintain the dialogue with the PLO.@@@@1@23@@oe@2-2-2013
21101028@unknown@formal@none@1@S@But State Department officials accuse Israel of leaking questionable claims to embarrass the U.S.@@@@1@14@@oe@2-2-2013
21102001@unknown@formal@none@1@S@The dollar finished lower yesterday, after tracking another rollercoaster session on Wall Street.@@@@1@13@@oe@2-2-2013
21102002@unknown@formal@none@1@S@Concern about the volatile U.S. stock market had faded in recent sessions, and traders appeared content to let the dollar languish in a narrow range until tomorrow, when the preliminary report on third-quarter U.S. gross national product is released.@@@@1@39@@oe@2-2-2013
21102003@unknown@formal@none@1@S@But seesaw gyrations in the Dow Jones Industrial Average yesterday put Wall Street back in the spotlight and inspired market participants to bid the U.S. unit lower.@@@@1@27@@oe@2-2-2013
21102004@unknown@formal@none@1@S@UAL's decision to remain an independent company sent share prices tumbling.@@@@1@11@@oe@2-2-2013
21102005@unknown@formal@none@1@S@By midmorning, the DJIA had plunged 80 points and foreign-exchange dealers quickly drove the dollar down.@@@@1@16@@oe@2-2-2013
21102006@unknown@formal@none@1@S@When the DJIA modestly rebounded, the dollar bounced back in choppy dealings but ended the day below the levels of late Monday.@@@@1@22@@oe@2-2-2013
21102007@unknown@formal@none@1@S@Stock prices, meanwhile, posted significant gains in later trading and closed down by only 3.69 points on the day.@@@@1@19@@oe@2-2-2013
21102008@unknown@formal@none@1@S@Some dealers said that the market's strong reaction to Wall Street reflects a general uneasiness about the dollar.@@@@1@18@@oe@2-2-2013
21102009@unknown@formal@none@1@S@They added that the DJIA's swift drop proved an easy excuse for the market to drive the U.S. currency in the direction it was already headed.@@@@1@26@@oe@2-2-2013
21102010@unknown@formal@none@1@S@In late New York trading yesterday, the dollar was quoted at 1.8355 marks, down from 1.8470 marks Monday, and at 141.45 yen, down from 141.90 yen late Monday.@@@@1@28@@oe@2-2-2013
21102011@unknown@formal@none@1@S@Sterling was quoted at $1.6055, up from $1.6030 late Monday.@@@@1@10@@oe@2-2-2013
21102012@unknown@formal@none@1@S@In Tokyo Wednesday, the U.S. currency opened for trading at 141.57 yen, down from Tuesday's Tokyo close of 142.10 yen.@@@@1@20@@oe@2-2-2013
21102013@unknown@formal@none@1@S@Tom Trettien, a vice president with Banque Paribas in New York, sees a break in the dollar's long-term upward trend, a trend that began in January 1988.@@@@1@27@@oe@2-2-2013
21102014@unknown@formal@none@1@S@He argues that the dollar is now "moving sideways," adding that "the next leg could be the beginning of a longer term bearish phase."@@@@1@24@@oe@2-2-2013
21102015@unknown@formal@none@1@S@Analysts peg the dollar's recent weakness to an underlying slowdown in the U.S. economy, highlighted by recent economic data, particularly a surprisingly sharp widening in the August U.S. trade gap.@@@@1@30@@oe@2-2-2013
21102016@unknown@formal@none@1@S@They also point out that narrowing interest-rate differentials between the U.S. and its major trading partners tend to make the U.S. currency less attractive to foreign investors.@@@@1@27@@oe@2-2-2013
21102017@unknown@formal@none@1@S@Despite several spurts of dollar trading, it was noted that mark-yen cross trade grabbed much of the market's attention.@@@@1@19@@oe@2-2-2013
21102018@unknown@formal@none@1@S@Following the dive in U.S. stocks, the mark has strengthened more than its major counterparts.@@@@1@15@@oe@2-2-2013
21102019@unknown@formal@none@1@S@Traders attribute the mark's surge to a robust West German economy and higher rate differentials.@@@@1@15@@oe@2-2-2013
21102020@unknown@formal@none@1@S@But, they add that the mark's strength is in part a reflection of a shift away from U.S. assets by Japanese investors into West German investments.@@@@1@26@@oe@2-2-2013
21102021@unknown@formal@none@1@S@"The question remains: how much can the West German market absorb?" says one senior dealer.@@@@1@15@@oe@2-2-2013
21102022@unknown@formal@none@1@S@Some dealers say that Bank of Japan Governor Satoshi Sumita's reassurance that Japanese monetary policy won't be changed for the time being has given investors an added excuse to push the yen down even further against the mark.@@@@1@38@@oe@2-2-2013
21102023@unknown@formal@none@1@S@Despite the yen's weakness with respect to the mark, Tokyo traders say they don't expect the Bank of Japan to take any action to support the Japanese currency on that front.@@@@1@31@@oe@2-2-2013
21102024@unknown@formal@none@1@S@Meanwhile, sterling slumped on news that the United Kingdom posted a wider-than-expected trade deficit in September.@@@@1@16@@oe@2-2-2013
21102025@unknown@formal@none@1@S@The news also knocked the British unit to below 2.95 marks in London, but a bout of short-covering helped sterling recoup some of its earlier losses.@@@@1@26@@oe@2-2-2013
21102026@unknown@formal@none@1@S@On the Commodity Exchange in New York, gold for current delivery jumped $3.20 to $370.20 an ounce.@@@@1@17@@oe@2-2-2013
21102027@unknown@formal@none@1@S@The close was the highest since Aug. 15.@@@@1@8@@oe@2-2-2013
21102028@unknown@formal@none@1@S@Estimated volume was a light two million ounces.@@@@1@8@@oe@2-2-2013
21102029@unknown@formal@none@1@S@In early trading in Hong Kong Wednesday, gold was quoted at $368.25 an ounce.@@@@1@14@@oe@2-2-2013
21103001@unknown@formal@none@1@S@Boston Co., the upper-crust financial services concern that was rocked by a management scandal late last year, has had a sharp drop in profitability -- mainly because a high-risk bet on interest rates backfired.@@@@1@34@@oe@2-2-2013
21103002@unknown@formal@none@1@S@Boston Co.'s fall from grace is bad news for its parent, Shearson Lehman Hutton Holdings Inc., which has relied heavily on the banking and money management unit's contributions in recent years.@@@@1@31@@oe@2-2-2013
21103003@unknown@formal@none@1@S@In 1988, for example, Boston Co. had an estimated pretax profit of at least $110 million, while Shearson managed net income of just $96 million.@@@@1@25@@oe@2-2-2013
21103004@unknown@formal@none@1@S@Shearson doesn't break out the earnings of its subsidiaries.@@@@1@9@@oe@2-2-2013
21103005@unknown@formal@none@1@S@But people familiar with Boston Co.'s performance say the unit had profit of around $17 million for the third quarter, after barely breaking even for the first six months.@@@@1@29@@oe@2-2-2013
21103006@unknown@formal@none@1@S@Shearson, meanwhile, posted net income of $106 million for the first nine months of the year, down slightly from $110 million for the year-ago period.@@@@1@25@@oe@2-2-2013
21103007@unknown@formal@none@1@S@Moody's Investors Service Inc. last week downgraded the long-term deposit rating of Boston Co.'s Boston Safe Deposit & Trust Co. subsidiary, to single-A-1 from double-A-3, citing problems in the company's "aggressively managed securities portfolio."@@@@1@34@@oe@2-2-2013
21103008@unknown@formal@none@1@S@John Kriz, a Moody's vice president, said Boston Safe Deposit's performance has been hurt this year by a mismatch in the maturities of its assets and liabilities.@@@@1@27@@oe@2-2-2013
21103009@unknown@formal@none@1@S@The mismatch exposed the company to a high degree of interest-rate risk, and when rates moved unfavorably -- beginning late last year and continuing into this year -- "it cost them," Mr. Kriz said.@@@@1@34@@oe@2-2-2013
21103010@unknown@formal@none@1@S@Mr. Kriz noted that Boston Safe Deposit "has taken some actions to better control asset-liability management and improve controls in general, and we think these will serve to improve credit quality."@@@@1@31@@oe@2-2-2013
21103011@unknown@formal@none@1@S@As some securities mature and the proceeds are reinvested, the problems ought to ease, he said.@@@@1@16@@oe@2-2-2013
21103012@unknown@formal@none@1@S@But he also cited concerns over the company's mortgage exposure in the troubled New England real estate market.@@@@1@18@@oe@2-2-2013
21103013@unknown@formal@none@1@S@Boston Co. officials declined to comment on Moody's action or on the unit's financial performance this year -- except to deny a published report that outside accountants had discovered evidence of significant accounting errors in the first three quarters' results.@@@@1@40@@oe@2-2-2013
21103014@unknown@formal@none@1@S@An accounting controversy at the end of last year forced Boston Co. to admit it had overstated pretax profits by some $44 million.@@@@1@23@@oe@2-2-2013
21103015@unknown@formal@none@1@S@The resulting scandal led to the firing of James N. von Germeten as Boston Co.'s president and to the resignations of the company's chief financial officer and treasurer.@@@@1@28@@oe@2-2-2013
21103016@unknown@formal@none@1@S@The executives were accused of improperly deferring expenses and booking revenue early, in an effort to dress up results -- and perhaps bolster performance-related bonuses.@@@@1@25@@oe@2-2-2013
21103017@unknown@formal@none@1@S@Mr. von Germeten, in turn, attributed the controversy to judgmental errors by accountants and accused Shearson of conducting a "witch hunt."@@@@1@21@@oe@2-2-2013
21103018@unknown@formal@none@1@S@Mr. Kriz of Moody's said the problems in the securities portfolio stem largely from positions taken last year.@@@@1@18@@oe@2-2-2013
21103019@unknown@formal@none@1@S@The company's current management found itself "locked into this," he said.@@@@1@11@@oe@2-2-2013
21104001@unknown@formal@none@1@S@Mexico exported an average of 1,296,800 barrels of crude oil a day at an average of $15.31 a barrel during 1989's first eight months for a total of $4.82 billion, Petroleos Mexicanos S.A. said.@@@@1@34@@oe@2-2-2013
21104002@unknown@formal@none@1@S@The state petroleum monopoly said sales in the period gained 15%, and $262.4 million more than originally projected at an average of $10 a barrel on an export platform of 1,250,000 barrels a day.@@@@1@34@@oe@2-2-2013
21105001@unknown@formal@none@1@S@CHICAGO -@@@@1@2@@oe@2-2-2013
21105002@unknown@formal@none@1@S@Sears, Roebuck & Co. is struggling as it enters the critical Christmas season.@@@@1@13@@oe@2-2-2013
21105003@unknown@formal@none@1@S@Yesterday, the retailing and financial services giant reported a 16% drop in third-quarter earnings to $257.5 million, or 75 cents a share, from a restated $305 million, or 80 cents a share, a year earlier.@@@@1@35@@oe@2-2-2013
21105004@unknown@formal@none@1@S@But the news was even worse for Sears's core U.S. retailing operation, the largest in the nation.@@@@1@17@@oe@2-2-2013
21105005@unknown@formal@none@1@S@Sears said its U.S. stores had a loss of $6.9 million, their first deficit for the period in more than five years.@@@@1@22@@oe@2-2-2013
21105006@unknown@formal@none@1@S@Analysts estimated that sales at U.S. stores declined in the quarter, too.@@@@1@12@@oe@2-2-2013
21105007@unknown@formal@none@1@S@The results underscore Sears's difficulties in implementing the "everyday low pricing" strategy that it adopted in March as part of a broad attempt to revive its retailing business.@@@@1@28@@oe@2-2-2013
21105008@unknown@formal@none@1@S@Under the new approach, Sears set prices that were somewhere between its old "regular" and "sale" prices.@@@@1@17@@oe@2-2-2013
21105009@unknown@formal@none@1@S@The company said it would resort far less often to slashing prices to woo shoppers.@@@@1@15@@oe@2-2-2013
21105010@unknown@formal@none@1@S@Sears officials insist they don't intend to abandon the everyday pricing approach in the face of the poor results.@@@@1@19@@oe@2-2-2013
21105011@unknown@formal@none@1@S@Instead, a spokesman blames the dismal third-quarter showing on "an environment that is being distorted by a very harsh climate for sales of durable goods," which account for roughly two-thirds of Sears's annual merchandise volume.@@@@1@35@@oe@2-2-2013
21105012@unknown@formal@none@1@S@The new pricing strategy "is working," the spokesman asserted.@@@@1@9@@oe@2-2-2013
21105013@unknown@formal@none@1@S@He added that, after an initial surge triggered by an advertising blitz in March, Sears expected that the pricing program wouldn't have any effect on revenue.@@@@1@26@@oe@2-2-2013
21105014@unknown@formal@none@1@S@Sears has been counting on growth coming from the large displays of brand-name merchandise it is adding to its stores over the next two years in what it calls "power formats."@@@@1@31@@oe@2-2-2013
21105015@unknown@formal@none@1@S@But analysts say Sears faces an especially daunting challenge on the eve of the Christmas shopping season.@@@@1@17@@oe@2-2-2013
21105016@unknown@formal@none@1@S@"I believe everyday pricing in the current environment doesn't work," says Walter Loeb of Morgan Stanley & Co., pointing to soft durable-goods sales.@@@@1@23@@oe@2-2-2013
21105017@unknown@formal@none@1@S@"Sears is likely to be unsuccessful if it continues with its pricing policy when everyone else is offering unusual values."@@@@1@20@@oe@2-2-2013
21105018@unknown@formal@none@1@S@In what amounts to an admission that the transition hasn't gone as smoothly as Sears had hoped, the giant retailer is now trying new ways to drum up business without appearing to abandon its seven-month-old strategy.@@@@1@36@@oe@2-2-2013
21105019@unknown@formal@none@1@S@The company is highlighting more special deals in its advertising and stores, and it's offering to defer finance charges on certain big-ticket items.@@@@1@23@@oe@2-2-2013
21105020@unknown@formal@none@1@S@Sears is also stepping up its television ads and changing its message.@@@@1@12@@oe@2-2-2013
21105021@unknown@formal@none@1@S@In a new TV ad, for instance, a woman going through the Sunday newspaper brands as hype claims by other stores that they are offering goods for "50%, 60% and 70% off.@@@@1@32@@oe@2-2-2013
21105022@unknown@formal@none@1@S@" By lowering prices throughout its stores, she says, "Sears has the right idea."@@@@1@14@@oe@2-2-2013
21105023@unknown@formal@none@1@S@But the ad also mentions Sears's sales -- a topic that the retailer has avoided since switching to everyday pricing.@@@@1@20@@oe@2-2-2013
21105024@unknown@formal@none@1@S@"When Sears has a sale at a special price," the woman in the ad declares, "it's something you don't want to miss."@@@@1@22@@oe@2-2-2013
21105025@unknown@formal@none@1@S@Recent surveys by Leo J. Shapiro & Associates, a market research firm in Chicago, suggest that Sears is having a tough time attracting shoppers because it hasn't yet done enough to improve service or its selection of merchandise.@@@@1@38@@oe@2-2-2013
21105026@unknown@formal@none@1@S@The number of people who said they were more likely to shop at Sears fell in September to 37% from 66% in March, when Sears blanketed the airwaves with ads about its new pricing strategy.@@@@1@35@@oe@2-2-2013
21105027@unknown@formal@none@1@S@Moreover, the number of people who spontaneously cited lower prices as the reason for their interest in Sears declined to 16% in September from 33% in March.@@@@1@27@@oe@2-2-2013
21105028@unknown@formal@none@1@S@Just 5% of the respondents mentioned brands in September, up slightly from 2% in March.@@@@1@15@@oe@2-2-2013
21105029@unknown@formal@none@1@S@Only 2% of the people in September cited Sears's "friendly personnel."@@@@1@11@@oe@2-2-2013
21105030@unknown@formal@none@1@S@"The power of price as an appeal, which was very considerable in driving traffic in March and April, has diminished," says George Rosenbaum, president of Shapiro & Associates.@@@@1@28@@oe@2-2-2013
21105031@unknown@formal@none@1@S@"You see some improvement in these other areas, but it's a very small and slow process."@@@@1@16@@oe@2-2-2013
21105032@unknown@formal@none@1@S@For the third quarter, Sears said its total revenue rose 4.8% to $13.18 billion from $12.57 billion a year earlier.@@@@1@20@@oe@2-2-2013
21105033@unknown@formal@none@1@S@Net income at Sears's merchandise group, which includes international and credit card operations, as well as U.S. stores, fell 25%.@@@@1@20@@oe@2-2-2013
21105034@unknown@formal@none@1@S@Profit at Sears's Allstate insurance unit fell 38% to $126.1 million because of Hurricane Hugo, which inflicted the greatest single storm damage loss in the company's history.@@@@1@27@@oe@2-2-2013
21105035@unknown@formal@none@1@S@Sears said claims from the storm, as expected, reduced its third-quarter net by $80 million, or 23 cents a share.@@@@1@20@@oe@2-2-2013
21105036@unknown@formal@none@1@S@Allstate is expected to absorb another big hit in the fourth quarter as claims pour in from the San Francisco earthquake.@@@@1@21@@oe@2-2-2013
21105037@unknown@formal@none@1@S@But a spokesman said the quake won't have as big a financial impact on Allstate as Hurricane Hugo did.@@@@1@19@@oe@2-2-2013
21105038@unknown@formal@none@1@S@Net income at Sears's Dean Witter Financials Services group, meanwhile, rose nearly 32% to $35.7 million, reflecting improvements in its basic stock brokerage and Discover credit card businesses.@@@@1@28@@oe@2-2-2013
21105039@unknown@formal@none@1@S@Profit at Sears's Coldwell Banker Real Estate Group nearly quadrupled to $81.2 million because of gains on sales of property.@@@@1@20@@oe@2-2-2013
21105040@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Sears shares closed at $40.50, up 87.5 cents.@@@@1@16@@oe@2-2-2013
21106001@unknown@formal@none@1@S@Oil imports to Japan rose 12% in September from year-earlier levels, according to statistics released by the government's Ministry of International Trade and Industry.@@@@1@24@@oe@2-2-2013
21106002@unknown@formal@none@1@S@The imports, totaling 98.5 million barrels, were 11% lower than August levels.@@@@1@12@@oe@2-2-2013
21106003@unknown@formal@none@1@S@The year-on-year rise was partly because of higher demand for petroleum products, and partly because of tax changes in 1988 that left oil companies with high inventories in the late-summer/early-FALL PERIOD.@@@@1@31@@oe@2-2-2013
21106004@unknown@formal@none@1@S@Imports of crude from the Middle East grew 17% from year-earlier levels, and Southeast Asian crude imports grew 43%.@@@@1@19@@oe@2-2-2013
21106005@unknown@formal@none@1@S@While Mideast crude imports were higher compared with year-earlier levels, they fell 18% compared with August imports.@@@@1@17@@oe@2-2-2013
21106006@unknown@formal@none@1@S@Southeast Asian crude imports, however, were 3.6% higher than August.@@@@1@10@@oe@2-2-2013
21107001@unknown@formal@none@1@S@This is in response to George Melloan's Business World column "The Housing Market Is a Bigger Mess Than You Think" (op-ed page, Sept. 26).@@@@1@24@@oe@2-2-2013
21107002@unknown@formal@none@1@S@In Houston, we have seen how bad the housing problem can become.@@@@1@12@@oe@2-2-2013
21107003@unknown@formal@none@1@S@Unused houses deteriorate rapidly, affecting the value of nearby homes; in a domino effect, the entire neighborhood can fall victim.@@@@1@20@@oe@2-2-2013
21107004@unknown@formal@none@1@S@At this stage some people just "walk away" from homes where the mortgage exceeds current market value.@@@@1@17@@oe@2-2-2013
21107005@unknown@formal@none@1@S@But most of them could have afforded to keep up their payments -- they chose not to do so.@@@@1@19@@oe@2-2-2013
21107006@unknown@formal@none@1@S@The problem is so vast that we need to try innovative solutions -- in small-scale experiments.@@@@1@16@@oe@2-2-2013
21107007@unknown@formal@none@1@S@Here are some ideas:@@@@1@4@@oe@2-2-2013
21107008@unknown@formal@none@1@S@1) Foreclosed homes could be sold by the FHA for no down payment (the biggest obstacle to young buyers), but with personal liability for the mortgage (no walking away by choice).@@@@1@31@@oe@2-2-2013
21107009@unknown@formal@none@1@S@2) Encourage long-term occupancy by forgiving one month's payment (off the tail end of the mortgage) for every six months paid; or perhaps have the down payment deferred to the end of the mortgage (balloon), but "forgiven" on a monthly pro-rata basis as long as the owner remains the occupant.@@@@1@50@@oe@2-2-2013
21107010@unknown@formal@none@1@S@3) Develop rental agreements with exclusive purchase options for the renter.@@@@1@11@@oe@2-2-2013
21107011@unknown@formal@none@1@S@An occupant will, in most every case, be better for the home and neighborhood than a vacant house.@@@@1@18@@oe@2-2-2013
21107012@unknown@formal@none@1@S@In this way, the house is not dumped on to a glutted market.@@@@1@13@@oe@2-2-2013
21107013@unknown@formal@none@1@S@John F. Merrill@@@@1@3@@oe@2-2-2013
21107014@unknown@formal@none@1@S@Houston@@@@1@1@@oe@2-2-2013
21107015@unknown@formal@none@1@S@The Federal Housing Administration, Veterans Administration and the Department of Housing and Urban Development further aggravate the problem of affordable housing stock by "buying in" to their foreclosed properties (of which there are, alas, many) at an inflated "balance due" -- say $80,000 on a house worth $55,000 -- instead of allowing a free market to price the house for what it's really worth.@@@@1@64@@oe@2-2-2013
21107016@unknown@formal@none@1@S@Worse, the properties then sit around deteriorating for maybe a year or so, but are resold eventually (because of the attractiveness of the low down payment, etc.) to a marginal buyer who can't afford both the mortgage and needed repairs; and having little vested interest that buyer will walk away and the vicious cycle repeats itself all over again.@@@@1@59@@oe@2-2-2013
21107017@unknown@formal@none@1@S@Paul Padget@@@@1@2@@oe@2-2-2013
21108001@unknown@formal@none@1@S@Italy's unemployment rate rose to 12% of the labor force in July from 11.9% in April, and was up from 11.7% a year earlier, according to quarterly figures from the state statistical institute.@@@@1@33@@oe@2-2-2013
21108002@unknown@formal@none@1@S@Istat said a national survey during the first week of July showed the number of job seekers was 2,888,000 up from 2,822,000 in April, and from 2,853,000 a year ago.@@@@1@30@@oe@2-2-2013
21108003@unknown@formal@none@1@S@The unemployment rate was by far the highest in the southern, so-called Mezzogiorno region.@@@@1@14@@oe@2-2-2013
21108004@unknown@formal@none@1@S@The southern unemployment rate rose to 21.3% in July from 21.2% in April and from 20.6% a year earlier.@@@@1@19@@oe@2-2-2013
21108005@unknown@formal@none@1@S@Istat said 369,000 more people were employed in July than in April.@@@@1@12@@oe@2-2-2013
21109001@unknown@formal@none@1@S@Xerox Corp.'s third-quarter net income grew 6.2% on 7.3% higher revenue, earning mixed reviews from Wall Street analysts.@@@@1@18@@oe@2-2-2013
21109002@unknown@formal@none@1@S@Quarter net for the business-machines and financial-services company rose to $155 million, or $1.41 a share, from $146 million, or $1.37 a share, in the year-earlier period.@@@@1@27@@oe@2-2-2013
21109003@unknown@formal@none@1@S@Revenue rose to $4.45 billion from $4.15 billion.@@@@1@8@@oe@2-2-2013
21109004@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Xerox closed at $62.75 a share, up $1.@@@@1@15@@oe@2-2-2013
21109005@unknown@formal@none@1@S@Sales growth and profit in business products and systems -- Xerox's main business -- were "disappointing," said B. Alex Henderson, who follows the company for Prudential-Bache Securities Inc.@@@@1@28@@oe@2-2-2013
21109006@unknown@formal@none@1@S@Sales of Xerox copiers and other office products grew 1.6%; "we expected growth of 6% to 7%," Mr. Henderson said.@@@@1@20@@oe@2-2-2013
21109007@unknown@formal@none@1@S@Operating-profit margins slipped almost 18%, to 4.3% of sales, the analyst noted.@@@@1@12@@oe@2-2-2013
21109008@unknown@formal@none@1@S@Still, with competitors such as Eastman Kodak Co. faltering in copier sales, Xerox's sales increases "were encouraging," says Eugene Glazer of Dean Witter Reynolds Inc.@@@@1@25@@oe@2-2-2013
21109009@unknown@formal@none@1@S@"They are holding their own in a weak market, and the restructuring is working," he says.@@@@1@16@@oe@2-2-2013
21109010@unknown@formal@none@1@S@David T. Kearns, Xerox chairman and chief executive officer, cited the restructuring and "strong" cost controls for the 13% growth in profit from business products and systems operations.@@@@1@28@@oe@2-2-2013
21109011@unknown@formal@none@1@S@Mr. Glazer expects Xerox to experience tough sledding, though, in financial services because of rate pressures and uncertainty surrounding tax treatment of capital gains.@@@@1@24@@oe@2-2-2013
21109012@unknown@formal@none@1@S@In the quarter, the Crum & Forster insurance unit reported $200 million before tax of capital gains from property and casualty operations.@@@@1@22@@oe@2-2-2013
21109013@unknown@formal@none@1@S@The subsidiary also increased reserves by $140 million, however, and set aside an additional $25 million for claims connected with Hurricane Hugo.@@@@1@22@@oe@2-2-2013
21109014@unknown@formal@none@1@S@For the nine months, Xerox earned $492 million, or $4.55 a share, up 5.8% from $465 million, or $4.32 a share.@@@@1@21@@oe@2-2-2013
21109015@unknown@formal@none@1@S@Revenue rose 7.6% to $12.97 billion from $12.05 billion.@@@@1@9@@oe@2-2-2013
21110001@unknown@formal@none@1@S@New orders for durable goods fell back slightly in September after shooting up the month before, reflecting weakening auto demand after a spurt of orders for new 1990 models, the Commerce Department reported.@@@@1@33@@oe@2-2-2013
21110002@unknown@formal@none@1@S@Orders for military equipment, household appliances, machinery and other goods expected to last at least three years dipped 0.1% last month, to $126.68 billion, after leaping 3.9% in August, the department said.@@@@1@32@@oe@2-2-2013
21110003@unknown@formal@none@1@S@Most analysts had expected a sharper decline after the steep rise in August.@@@@1@13@@oe@2-2-2013
21110004@unknown@formal@none@1@S@Moreover, a recent government report showing widespread layoffs in manufacturing had contributed to perceptions that the manufacturing sector of the economy had slowed to a crawl.@@@@1@26@@oe@2-2-2013
21110005@unknown@formal@none@1@S@But many economists pointed to a 1.8% September rise in orders outside the volatile transportation category.@@@@1@16@@oe@2-2-2013
21110006@unknown@formal@none@1@S@That "suggests the manufacturing sector is not falling apart," said Sally Kleinman, an economist at Manufacturers Hanover Securities Corp. in New York.@@@@1@22@@oe@2-2-2013
21110007@unknown@formal@none@1@S@She added, however: "It is not robust by any means."@@@@1@10@@oe@2-2-2013
21110008@unknown@formal@none@1@S@While a decline in orders for cars and civilian airplanes pulled down the orders total, an enormous jump in orders for heavy military equipment propped it up.@@@@1@27@@oe@2-2-2013
21110009@unknown@formal@none@1@S@Orders for capital defense goods skyrocketed 56%, and a government analyst said nearly all areas saw increases, including airplanes, missiles, ships, tanks and communications equipment.@@@@1@25@@oe@2-2-2013
21110010@unknown@formal@none@1@S@Orders for military goods usually catapult in September, government officials say, as the Pentagon scrambles to spend its money before the new fiscal year begins Oct. 1.@@@@1@27@@oe@2-2-2013
21110011@unknown@formal@none@1@S@While all the numbers in the durable goods report were adjusted for seasonal fluctuations, a Commerce Department analyst said that the adjustment probably didn't factor out all of the wide-ranging surge in defense orders.@@@@1@34@@oe@2-2-2013
21110012@unknown@formal@none@1@S@Without the increase in defense bookings, September orders would have plummeted 3.9%.@@@@1@12@@oe@2-2-2013
21110013@unknown@formal@none@1@S@Analysts were most unsettled by evidence the backlog of orders at factories is slipping.@@@@1@14@@oe@2-2-2013
21110014@unknown@formal@none@1@S@Unfilled orders for durable goods rose 0.4% in September, to $476.14 billion, after declining for the first time in 2 1/2 years in August.@@@@1@24@@oe@2-2-2013
21110015@unknown@formal@none@1@S@In July unfilled orders grew 1%.@@@@1@6@@oe@2-2-2013
21110016@unknown@formal@none@1@S@But analysts noted that excluding transportation-where what they believe was a temporary surge in auto demand pushed up the figures-order backlogs have declined for three months in a row.@@@@1@29@@oe@2-2-2013
21110017@unknown@formal@none@1@S@"It means we're eating into the bread that keeps us going.@@@@1@11@@oe@2-2-2013
21110018@unknown@formal@none@1@S@That is a little disturbing," Ms. Kleinman said.@@@@1@8@@oe@2-2-2013
21110019@unknown@formal@none@1@S@"It also means if you have a real drop-off in orders, production will likely fall off very quickly because there is less to keep things going."@@@@1@26@@oe@2-2-2013
21110020@unknown@formal@none@1@S@Capital goods orders outside of the defense sector tumbled for the second month in a row, posting a 5.6% drop after a 10.3% decline.@@@@1@24@@oe@2-2-2013
21110021@unknown@formal@none@1@S@Such steep drops in a category seen as a barometer of business investment would customarily be grave news for the economy.@@@@1@21@@oe@2-2-2013
21110022@unknown@formal@none@1@S@But a Commerce Department analyst said that in both months orders would have risen had it not been for a drop in civilian aircraft bookings, a category that is showing declines only after a huge surge earlier this year.@@@@1@39@@oe@2-2-2013
21110023@unknown@formal@none@1@S@Still, Milton Hudson, senior economic adviser at Morgan Guaranty Trust Co. in New York, said: "If you look back a half-year or so the evidence was pretty good of affirmative strength in the capital-goods sector.@@@@1@35@@oe@2-2-2013
21110024@unknown@formal@none@1@S@Now at least there are question marks about that, and without any question the pace of growth has slowed.@@@@1@19@@oe@2-2-2013
21111001@unknown@formal@none@1@S@Norfolk Southern Corp. directors authorized the railroad company to buy back as many as 45 million of its shares, which would have a current value of more than $1.7 billion.@@@@1@30@@oe@2-2-2013
21111002@unknown@formal@none@1@S@The buy-back, coupled with a nearly completed earlier purchase of 20 million shares, would reduce shares outstanding by more than 26%.@@@@1@21@@oe@2-2-2013
21111003@unknown@formal@none@1@S@The Norfolk, Va., company has 172.2 million shares outstanding.@@@@1@9@@oe@2-2-2013
21111004@unknown@formal@none@1@S@In a statement, Arnold B. McKinnon, chairman and chief executive officer, noted that the new repurchase program "should serve to enhance shareholder value."@@@@1@23@@oe@2-2-2013
21111005@unknown@formal@none@1@S@A spokeswoman said the company will finance the buy-back with cash on hand, borrowing and "cash Norfolk expects to generate."@@@@1@20@@oe@2-2-2013
21111006@unknown@formal@none@1@S@Analysts said they expected the action, and investors applauded the move.@@@@1@11@@oe@2-2-2013
21111007@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Norfolk Southern shares closed at $37.875, up $1.125.@@@@1@17@@oe@2-2-2013
21111008@unknown@formal@none@1@S@Still, analysts don't expect the buy-back to significantly affect per-share earnings in the short term.@@@@1@15@@oe@2-2-2013
21111009@unknown@formal@none@1@S@"The impact won't be that great," said Graeme Lidgerwood of First Boston Corp.@@@@1@13@@oe@2-2-2013
21111010@unknown@formal@none@1@S@That is in part because of the effect of having to average the number of shares outstanding, she said.@@@@1@19@@oe@2-2-2013
21111011@unknown@formal@none@1@S@In addition, Mrs. Lidgerwood said, Norfolk is likely to draw down its cash initially to finance the purchases and thus forfeit some interest income.@@@@1@24@@oe@2-2-2013
21111012@unknown@formal@none@1@S@Longer term, however, the buy-back is expected to increase earnings, especially after 1990, Mrs. Lidgerwood said.@@@@1@16@@oe@2-2-2013
21111013@unknown@formal@none@1@S@Moreover, the extensive program in effect establishes a floor for the stock price, said Joel Price, analyst for Donaldson, Lufkin & Jenrette.@@@@1@22@@oe@2-2-2013
21111014@unknown@formal@none@1@S@The buy-back "is really a comfort to those who want to buy the stock that there is a {price} floor," he said.@@@@1@22@@oe@2-2-2013
21111015@unknown@formal@none@1@S@"At a certain price, if the management thinks {the stock} is cheap, they can go in and buy it."@@@@1@19@@oe@2-2-2013
21111016@unknown@formal@none@1@S@Under the program, Norfolk plans to acquire shares in the open market.@@@@1@12@@oe@2-2-2013
21111017@unknown@formal@none@1@S@Under the earlier plan, Norfolk was authorized in 1987 to buy up to 20 million shares.@@@@1@16@@oe@2-2-2013
21111018@unknown@formal@none@1@S@It has purchased about 19 million of them.@@@@1@8@@oe@2-2-2013
21112001@unknown@formal@none@1@S@John B. Curcio, 55 years old, resigned as chairman of this diesel truck manufacturer, effective upon appointment of a successor.@@@@1@20@@oe@2-2-2013
21112002@unknown@formal@none@1@S@Last month, Mr. Curcio was succeeded by Ralph E. Reins as chief executive officer following several quarters of lackluster or declining performance.@@@@1@22@@oe@2-2-2013
21113001@unknown@formal@none@1@S@Falcon Holding Group Inc. said it agreed to acquire about 54,000 subscribers from First Carolina Cable TV Limited Partnership for about $100 million, or roughly $2,000 a subscriber.@@@@1@28@@oe@2-2-2013
21113002@unknown@formal@none@1@S@The subscribers are in 52 different communities in Georgia, Alabama and Mississippi.@@@@1@12@@oe@2-2-2013
21113003@unknown@formal@none@1@S@Completion of the sale is expected early next year, Falcon said.@@@@1@11@@oe@2-2-2013
21113004@unknown@formal@none@1@S@Currently, Falcon has about 750,000 cable-television subscribers around the nation; the company's cable-television unit reported 1988 revenue of about $100 million.@@@@1@21@@oe@2-2-2013
21113005@unknown@formal@none@1@S@In composite trading on the American Stock Exchange, Falcon closed at $20, unchanged.@@@@1@13@@oe@2-2-2013
21114001@unknown@formal@none@1@S@Richard W. Lock, retired vice president and treasurer of Owens-Illinois Inc., was named a director of this transportation industry supplier, increasing its board to six members.@@@@1@26@@oe@2-2-2013
21115001@unknown@formal@none@1@S@USX Corp. said it delayed the proposed initial public offering of common stock of RMI Titanium Co. because of market conditions.@@@@1@21@@oe@2-2-2013
21115002@unknown@formal@none@1@S@RMI Titanium is owned jointly by USX and Quantum Chemical Corp.@@@@1@11@@oe@2-2-2013
21115003@unknown@formal@none@1@S@USX, which hadn't set a date for the offering, didn't disclose any timetable for the offering.@@@@1@16@@oe@2-2-2013
21116001@unknown@formal@none@1@S@Your Oct. 2 editorial "Reding, Wrighting & Erithmatic" on the recent "education summit" was like most pieces on the subject of education: It had little to say.@@@@1@27@@oe@2-2-2013
21116002@unknown@formal@none@1@S@Oddly, though, on the very same page you printed a comment that addresses one of the most serious shortcomings of the American education system.@@@@1@24@@oe@2-2-2013
21116003@unknown@formal@none@1@S@Unfortunately, the comment was buried in another article, so it could not stand out in an education context.@@@@1@18@@oe@2-2-2013
21116004@unknown@formal@none@1@S@In the Manager's Journal, Atsushi Kageyama, in commenting on many differences between American and Japanese culture, said, "Japanese children are raised in a way many Americans would find severe.@@@@1@29@@oe@2-2-2013
21116005@unknown@formal@none@1@S@After a wonderfully frivolous early childhood, they are exposed to rigid discipline as soon as they enter school."@@@@1@18@@oe@2-2-2013
21116006@unknown@formal@none@1@S@What far too many people concerned about education either fail to understand or choose to ignore is that American children, on the whole, are among the most undisciplined in the world, making any attempt at improvements in the mode of education potentially unsuccessful.@@@@1@43@@oe@2-2-2013
21116007@unknown@formal@none@1@S@Unless parents and educators alike start to develop more discipline in children, all the worthy concern, discussions and actions will not solve the problem.@@@@1@24@@oe@2-2-2013
21116008@unknown@formal@none@1@S@Allen B. Richards Peterborough, N.H.@@@@1@5@@oe@2-2-2013
21117001@unknown@formal@none@1@S@Retired Adm. William J. Crowe, former chairman of the Joint Chiefs of Staff, and Robert P. Luciano, chairman and chief executive officer of Schering-Plough Corp., were elected directors of this securities firm.@@@@1@32@@oe@2-2-2013
21117002@unknown@formal@none@1@S@The board expanded to 17 seats.@@@@1@6@@oe@2-2-2013
21118001@unknown@formal@none@1@S@Tuesday, October 24, 1989@@@@1@4@@oe@2-2-2013
21118002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
21118003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
21118004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
21118005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 3/4% high, 8 5/8% low, 8 11/16% near closing bid, 8 11/16% offered.@@@@1@16@@oe@2-2-2013
21118006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
21118007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
21118008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
21118009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
21118010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
21118011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
21118012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.45% 30 to 44 days; 8.25% 45 to 68 days; 8.30% 69 to 89 days; 8.125% 90 to 119 days; 8% 120 to 149 days; 7.875% 150 to 179 days; 7.50% 180 to 270 days.@@@@1@44@@oe@2-2-2013
21118013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.55% 30 days; 8.475% 60 days; 8.45% 90 days.@@@@1@24@@oe@2-2-2013
21118014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.09% one month; 8.09% two months; 8.06% three months; 8% six months; 7.94% one year.@@@@1@18@@oe@2-2-2013
21118015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
21118016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
21118017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.55% one month; 8.50% three months; 8.35% six months.@@@@1@15@@oe@2-2-2013
21118018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.48% 30 days; 8.30% 60 days; 8.28% 90 days; 8.10% 120 days; 8% 150 days; 7.90% 180 days.@@@@1@20@@oe@2-2-2013
21118019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
21118020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 11/16% to 8 9/16% one month; 8 5/8% to 8 1/2% two months; 8 5/8% to 8 1/2% three months; 8 9/16% to 8 7/16% four months; 8 1/2% to 8 3/8% five months; 8 7/16% to 8 5/16% six months.@@@@1@45@@oe@2-2-2013
21118021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 11/16% one month; 8 11/16% three months; 8 1/2% six months; 8 1/2% one year.@@@@1@21@@oe@2-2-2013
21118022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
21118023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 9%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
21118024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
21118025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 23, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.52% 13 weeks; 7.50% 26 weeks.@@@@1@35@@oe@2-2-2013
21118026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac): Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@18@@oe@2-2-2013
21118027@unknown@formal@none@1@S@9.78%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
21118028@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21118029@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae): Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par) 9.75%, standard conventional fixed-rate mortgages; 8.70%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@34@@oe@2-2-2013
21118030@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21118031@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.59%.@@@@1@6@@oe@2-2-2013
21118032@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
21119001@unknown@formal@none@1@S@Roy E. Parrott, the company's president and chief operating officer since Sept. 1, was named to its board.@@@@1@18@@oe@2-2-2013
21119002@unknown@formal@none@1@S@The appointment increased the number of directors to 10, three of whom are company employees.@@@@1@15@@oe@2-2-2013
21119003@unknown@formal@none@1@S@Simpson is an auto parts maker.@@@@1@6@@oe@2-2-2013
21120001@unknown@formal@none@1@S@Japan has climbed up from the ashes of World War II and a gross national product of about $800 per capita to reach the heavyweight class among industrialized nations.@@@@1@29@@oe@2-2-2013
21120002@unknown@formal@none@1@S@Now this remarkable economic growth seems to be coming to an end because the government has not converted itself into a modern, democratic, "developed nation" mode of operation.@@@@1@28@@oe@2-2-2013
21120003@unknown@formal@none@1@S@Until 1980, when Japan joined the $10,000 per capita GNP club of the advanced countries, it was a model developing nation.@@@@1@21@@oe@2-2-2013
21120004@unknown@formal@none@1@S@The government built ports, bridges, highways, schools, hospitals and railways.@@@@1@10@@oe@2-2-2013
21120005@unknown@formal@none@1@S@When industries were weak, it protected them.@@@@1@7@@oe@2-2-2013
21120006@unknown@formal@none@1@S@It gave the Japanese people a value system, based on the rationalization that given the country's lack of natural resources, they must work hard to create value through exports and buy food with the surplus.@@@@1@35@@oe@2-2-2013
21120007@unknown@formal@none@1@S@Individual prosperity inevitably would result.@@@@1@5@@oe@2-2-2013
21120008@unknown@formal@none@1@S@That system has worked.@@@@1@4@@oe@2-2-2013
21120009@unknown@formal@none@1@S@The standard of living has increased steadily over the past 40 years; more than 90% of the people consider themselves middle class.@@@@1@22@@oe@2-2-2013
21120010@unknown@formal@none@1@S@The people have given their leading and only credible political party, the Liberal Democratic Party, clear and uninterrupted power for those 40 years.@@@@1@23@@oe@2-2-2013
21120011@unknown@formal@none@1@S@The LDP won by a landslide in the last election, in July 1986.@@@@1@13@@oe@2-2-2013
21120012@unknown@formal@none@1@S@But less than two years later, the LDP started to crumble, and dissent rose to unprecedented heights.@@@@1@17@@oe@2-2-2013
21120013@unknown@formal@none@1@S@The symptoms all point to one thing: Japan does not have a modern government.@@@@1@14@@oe@2-2-2013
21120014@unknown@formal@none@1@S@Its government still wants to sit in the driver's seat, set the speed, step on the gas, apply the brakes and steer, with 120 million people in the back seat.@@@@1@30@@oe@2-2-2013
21120015@unknown@formal@none@1@S@In a modern system, the government's role is to give the people as much choice as possible and to keep them well informed so they are capable of making a choice.@@@@1@31@@oe@2-2-2013
21120016@unknown@formal@none@1@S@It also allows people to buy the best and the cheapest goods from anywhere in the world.@@@@1@17@@oe@2-2-2013
21120017@unknown@formal@none@1@S@The Japanese government doesn't allow this.@@@@1@6@@oe@2-2-2013
21120018@unknown@formal@none@1@S@The Ministry of Agriculture and Fishery actually is a ministry for farmers and fishermen instead of a ministry of provisions.@@@@1@20@@oe@2-2-2013
21120019@unknown@formal@none@1@S@The Ministry of Health and Welfare is a ministry of doctors and pharmaceutical companies rather than an organization dedicated to protecting the health of the people.@@@@1@26@@oe@2-2-2013
21120020@unknown@formal@none@1@S@The Ministry of Education is nothing but a cartel for licensed teachers, and certainly does not act on behalf of students.@@@@1@21@@oe@2-2-2013
21120021@unknown@formal@none@1@S@The Ministry of Construction spreads concrete throughout the country and boasts in international conferences that Japan's paved roadway per capita is the longest in the world, but they seldom think of the poor commuters who spend so much time sitting in traffic.@@@@1@42@@oe@2-2-2013
21120022@unknown@formal@none@1@S@The Ministry of Transportation serves the industry, certainly not the passengers who must pay extraordinarily high prices.@@@@1@17@@oe@2-2-2013
21120023@unknown@formal@none@1@S@And the Ministry of Foreign Affairs works for itself, supporting Japanese diplomats who sprinkle abundant aid money around the world to ensure that their seat at the dinner table is next to the host's.@@@@1@34@@oe@2-2-2013
21120024@unknown@formal@none@1@S@This ministry has done nothing to correct the misunderstandings and misperceptions that are at the root of Japan's deteriorating image.@@@@1@20@@oe@2-2-2013
21120025@unknown@formal@none@1@S@Instead, it seems to be using foreign pressure and even the trade conflict to expand its sphere of influence vis a vis other ministries.@@@@1@24@@oe@2-2-2013
21120026@unknown@formal@none@1@S@All this illustrates that Japanese ministries still have a "provider" mentality; they do not serve the people, and particularly not consumers.@@@@1@21@@oe@2-2-2013
21120027@unknown@formal@none@1@S@They serve the industries and the special-interest groups.@@@@1@8@@oe@2-2-2013
21120028@unknown@formal@none@1@S@The rest of the world accepted such methods when Japan was developing.@@@@1@12@@oe@2-2-2013
21120029@unknown@formal@none@1@S@Japanese put up with it because the government provided job stability and growing paychecks.@@@@1@14@@oe@2-2-2013
21120030@unknown@formal@none@1@S@Japan is not a political country.@@@@1@6@@oe@2-2-2013
21120031@unknown@formal@none@1@S@It is a bureaucratic country.@@@@1@5@@oe@2-2-2013
21120032@unknown@formal@none@1@S@The Diet plays a minor role compared with the powerful bureaucratic system.@@@@1@12@@oe@2-2-2013
21120033@unknown@formal@none@1@S@Most bills are drafted by bureaucrats, not politicians.@@@@1@8@@oe@2-2-2013
21120034@unknown@formal@none@1@S@The Diet doesn't normally even debate bills because the opposition parties are so often opposed to whatever LDP does that it would be a waste of time.@@@@1@27@@oe@2-2-2013
21120035@unknown@formal@none@1@S@So most bills are passed without full discussion; particularly difficult bills are passed in the absence of the opposition parties.@@@@1@20@@oe@2-2-2013
21120036@unknown@formal@none@1@S@A recent example is the 3% consumption tax on all commercial activities.@@@@1@12@@oe@2-2-2013
21120037@unknown@formal@none@1@S@This makes enormous sense in Japan, where direct tax accounts for more than 70% of revenues and the capture rate of direct tax is so unfair.@@@@1@26@@oe@2-2-2013
21120038@unknown@formal@none@1@S@If you are a salaried man, Amen! 100% captured.@@@@1@9@@oe@2-2-2013
21120039@unknown@formal@none@1@S@If you are a retailer, 50%, and a farmer, 30%.@@@@1@10@@oe@2-2-2013
21120040@unknown@formal@none@1@S@To correct this inequality, most people would have favored an indirect tax, like the consumption tax.@@@@1@16@@oe@2-2-2013
21120041@unknown@formal@none@1@S@But the bill was passed without debate in the Diet, in the absence of the opposition.@@@@1@16@@oe@2-2-2013
21120042@unknown@formal@none@1@S@As a result, the Japanese people didn't know what to expect when the new law was introduced on April 1.@@@@1@20@@oe@2-2-2013
21120043@unknown@formal@none@1@S@They were frustrated by the longer queues at the cashier and the small coins given as change.@@@@1@17@@oe@2-2-2013
21120044@unknown@formal@none@1@S@All of a sudden, prices were no longer in denominations of 100 or 200.@@@@1@14@@oe@2-2-2013
21120045@unknown@formal@none@1@S@They were 103 or 206.@@@@1@5@@oe@2-2-2013
21120046@unknown@formal@none@1@S@Pockets exploded with one-yen coins.@@@@1@5@@oe@2-2-2013
21120047@unknown@formal@none@1@S@While people were jingling their change, the LDP politicians were caught in scandals.@@@@1@13@@oe@2-2-2013
21120048@unknown@formal@none@1@S@Money, such as in Recruit's political donations, and women, as in the cases of Prime Minister Sosuke Uno and Secretary General Tokuo Yamashita, seldom have caused political scandals in Japan.@@@@1@30@@oe@2-2-2013
21120049@unknown@formal@none@1@S@Whereas most men were a bit ambivalent about the sex scandals (though they were furious about Recruit), women were upset about both and surged to the polls.@@@@1@27@@oe@2-2-2013
21120050@unknown@formal@none@1@S@In the recent Upper House and Tokyo metropolitan congressional elections, in which the Socialist Party won a runaway victory, 60% of all women voted, as opposed to the usual 40%.@@@@1@30@@oe@2-2-2013
21120051@unknown@formal@none@1@S@It is difficult to analyze how much of their anger was due to Recruit, the sex scandals, or the one-yen coins in their purses, but they obviously were voting to punish the LDP.@@@@1@33@@oe@2-2-2013
21120052@unknown@formal@none@1@S@Taken by surprise, the Socialist Party is busy changing its doctrines.@@@@1@11@@oe@2-2-2013
21120053@unknown@formal@none@1@S@It's now OK to deal with the U.S., but not the Soviet Union.@@@@1@13@@oe@2-2-2013
21120054@unknown@formal@none@1@S@Nuclear power plants are acceptable.@@@@1@5@@oe@2-2-2013
21120055@unknown@formal@none@1@S@The U.S.-Japan Security Treaty can continue, sort of.@@@@1@8@@oe@2-2-2013
21120056@unknown@formal@none@1@S@And so on.@@@@1@3@@oe@2-2-2013
21120057@unknown@formal@none@1@S@Against the rapid cosmetic overhaul of the Socialist Party the LDP has been paralyzed.@@@@1@14@@oe@2-2-2013
21120058@unknown@formal@none@1@S@Now is the time to reform the government from a provider, developing-country vanguard role to that of a modern, industrialized nation in which consumers have the ultimate choice.@@@@1@28@@oe@2-2-2013
21120059@unknown@formal@none@1@S@If the LDP, as currently composed, can't make the transformation, then it should split into two parties.@@@@1@17@@oe@2-2-2013
21120060@unknown@formal@none@1@S@One party could stand for consumer interests, small government, free trade and globalism to put Japan clearly among the most developed and open countries.@@@@1@24@@oe@2-2-2013
21120061@unknown@formal@none@1@S@The other party could continue on the traditional track of the LDP, representing the manufacturers' preference for larger government, control, regulation and protectionism.@@@@1@23@@oe@2-2-2013
21120062@unknown@formal@none@1@S@The LDP must make a decision immediately; Lower House elections must take place before June.@@@@1@15@@oe@2-2-2013
21120063@unknown@formal@none@1@S@In the current mood of the Japanese people, journalists and even some industrialists, giving power to the Socialists might be good for the LDP, cleansing it of past sins.@@@@1@29@@oe@2-2-2013
21120064@unknown@formal@none@1@S@We must not forget, however, that such a humble political experiment could cause a global tidal wave of shocks in real-estate and financial markets.@@@@1@24@@oe@2-2-2013
21120065@unknown@formal@none@1@S@At the most there is only nine months before the LDP fuse burns out.@@@@1@14@@oe@2-2-2013
21120066@unknown@formal@none@1@S@Mr. Ohmae is managing director of McKinsey & Co. in Japan.@@@@1@11@@oe@2-2-2013
21121001@unknown@formal@none@1@S@Early this century, diamond mining in the magnificent dunes where the Namib Desert meets the Atlantic Ocean was a day at the beach.@@@@1@23@@oe@2-2-2013
21121002@unknown@formal@none@1@S@Men would crawl in the sand looking for shiny stones.@@@@1@10@@oe@2-2-2013
21121003@unknown@formal@none@1@S@It was as easy as collecting sea shells at Malibu.@@@@1@10@@oe@2-2-2013
21121004@unknown@formal@none@1@S@Men are still combing the beach with shovels and hand brushes, searching for that unusual glint.@@@@1@16@@oe@2-2-2013
21121005@unknown@formal@none@1@S@But only after a fleet of 336 gargantuan earthmoving vehicles belonging to De Beers Consolidated Mines Ltd., the world's diamond kingpins, do their work.@@@@1@24@@oe@2-2-2013
21121006@unknown@formal@none@1@S@Last year, 43 million tons of desert were moved from one dune to another to recover 934,242 carats, which comes to 46 tons of sand per carat, or one-fifth gram.@@@@1@30@@oe@2-2-2013
21121007@unknown@formal@none@1@S@Oh yes, the Atlantic was also pushed back 300 yards.@@@@1@10@@oe@2-2-2013
21121008@unknown@formal@none@1@S@"If there's diamonds out there, we'll get to them," says Les Johns, De Beers's engineering manager.@@@@1@16@@oe@2-2-2013
21121009@unknown@formal@none@1@S@Here, wedged between shifting dunes and pounding waves at the world's most inhospitable diamond dig, lies the earth's most precious jewel box.@@@@1@22@@oe@2-2-2013
21121010@unknown@formal@none@1@S@Thanks to centuries of polishing by Mother Nature -- first in the gentle current of the Orange River that carried the stones from South Africa's interior, then in the cold surf of the ocean, and finally in the coarse sands of the desert -- 98% of the diamonds uncovered are of gem quality.@@@@1@53@@oe@2-2-2013
21121011@unknown@formal@none@1@S@While other mines might yield more carats, a higher percentage of them go to industrial use.@@@@1@16@@oe@2-2-2013
21121012@unknown@formal@none@1@S@Since this treasure chest is too big to fit in a bank vault, it has been turned into one.@@@@1@19@@oe@2-2-2013
21121013@unknown@formal@none@1@S@Months after railway worker Zacharias Lewala first picked up a diamond from the sand in 1908, the German colonialists who controlled Namibia proclaimed a wide swath of the desert -- about 200 miles north from the Orange River and 60 miles inland from the Atlantic -- a restricted area, a designation normally reserved for military operations.@@@@1@56@@oe@2-2-2013
21121014@unknown@formal@none@1@S@When the Germans lost World War I, they lost Namibia to South Africa and the diamonds to Ernest Oppenheimer, patriarch of Anglo American Corp. and De Beers.@@@@1@27@@oe@2-2-2013
21121015@unknown@formal@none@1@S@Today, no one gets in or out of the restricted area without De Beers's stingy approval.@@@@1@16@@oe@2-2-2013
21121016@unknown@formal@none@1@S@The mining zone has thus remained one of the most desolate places in Africa.@@@@1@14@@oe@2-2-2013
21121017@unknown@formal@none@1@S@Ghost towns dot the Namib dunes, proving diamonds aren't forever.@@@@1@10@@oe@2-2-2013
21121018@unknown@formal@none@1@S@Oranjemund, the mine headquarters, is a lonely corporate oasis of 9,000 residents.@@@@1@12@@oe@2-2-2013
21121019@unknown@formal@none@1@S@Jackals roam the streets at night, and gemsbok, hardy antelope with long straight horns, wander in from the desert to drink from water sprinklers.@@@@1@24@@oe@2-2-2013
21121020@unknown@formal@none@1@S@On most days, the desert's heat and the cool of the ocean combine to create a mist like a damp rag.@@@@1@21@@oe@2-2-2013
21121021@unknown@formal@none@1@S@The wind, stinging with sand, never seems to stop.@@@@1@9@@oe@2-2-2013
21121022@unknown@formal@none@1@S@Still, miners from all parts of Namibia as well as professional staff from De Beers's head offices in South Africa and London keep coming.@@@@1@24@@oe@2-2-2013
21121023@unknown@formal@none@1@S@And Oranjemund boasts attractions besides diamonds.@@@@1@6@@oe@2-2-2013
21121024@unknown@formal@none@1@S@There are six video rental shops, three restaurants, one cinema and 34 sports and recreation clubs for everything from cricket to lawn bowling.@@@@1@23@@oe@2-2-2013
21121025@unknown@formal@none@1@S@The pride of Oranjemund is the 18-hole golf course -- with the largest sand trap in the world.@@@@1@18@@oe@2-2-2013
21121026@unknown@formal@none@1@S@Last year, when the rising Orange River threatened to swamp the course, the same engineers who are pushing back the Atlantic rushed to build a wall to hold back the flood.@@@@1@31@@oe@2-2-2013
21121027@unknown@formal@none@1@S@"Nothing is too good for our golf course," says Tony George, a mining engineer.@@@@1@14@@oe@2-2-2013
21121028@unknown@formal@none@1@S@Despite fears the mine may be partially nationalized by the new Namibian government following next month's elections freeing the country from South African control, De Beers engineers are working to extend the mine's productive life for another 25 years, from the current estimate of 10.@@@@1@45@@oe@2-2-2013
21121029@unknown@formal@none@1@S@Huge machines that look as though they came from the Star Wars desert-battle scene lumber among the dunes.@@@@1@18@@oe@2-2-2013
21121030@unknown@formal@none@1@S@Mechanized vacuum cleaners probe the sand like giant anteaters; a whirring ferris wheellike excavator, with buckets instead of seats, chews through layers of compacted sand; tracks and conveyor belts, shuttling sand to the screening plants, criss-cross the beach.@@@@1@38@@oe@2-2-2013
21121031@unknown@formal@none@1@S@Then there is the artifical sea wall, 600 yards long and 60 yards thick, jutting into the ocean.@@@@1@18@@oe@2-2-2013
21121032@unknown@formal@none@1@S@Made of sand, it receives around-the-clock maintainence against the battering waves.@@@@1@11@@oe@2-2-2013
21121033@unknown@formal@none@1@S@When the mining in front of the wall is complete, it is moved northward.@@@@1@14@@oe@2-2-2013
21121034@unknown@formal@none@1@S@A companion jetty that helps hold back the sea looks like a rusting junkyard.@@@@1@14@@oe@2-2-2013
21121035@unknown@formal@none@1@S@Engineers first used concrete blocks to bolster the barrier, but the ocean tossed them aside like driftwood.@@@@1@17@@oe@2-2-2013
21121036@unknown@formal@none@1@S@Then someone decided to try broken-down earthmoving equipment that, inexplicably, held against the waves.@@@@1@14@@oe@2-2-2013
21121037@unknown@formal@none@1@S@"The Caterpillar people aren't too happy when they see their equipment used like that," shrugs Mr. George.@@@@1@17@@oe@2-2-2013
21121038@unknown@formal@none@1@S@"They figure it's not a very good advert."@@@@1@8@@oe@2-2-2013
21121039@unknown@formal@none@1@S@Despite all these innovations, most of the diamonds are still found in the sand swept away by the men wielding shovels and brushes -- the ignominiously named "bedrock sweepers" who toil in the wake of the excavators.@@@@1@37@@oe@2-2-2013
21121040@unknown@formal@none@1@S@Laboring in blue and gray overalls, they are supposed to concentrate on cleaning out crevices, and not strain their eyes looking for diamonds.@@@@1@23@@oe@2-2-2013
21121041@unknown@formal@none@1@S@But should they spy one, the company will pay a bonus equal to one-third its value.@@@@1@16@@oe@2-2-2013
21121042@unknown@formal@none@1@S@For these workers at the bottom of the mine's pay scale, this is usually enough to overcome the temptation to steal -- a crime that could earn them up to 15 years in jail.@@@@1@34@@oe@2-2-2013
21121043@unknown@formal@none@1@S@Still, employees do occasionally try to smuggle out a gem or two.@@@@1@12@@oe@2-2-2013
21121044@unknown@formal@none@1@S@One man wrapped several diamonds in the knot of his tie.@@@@1@11@@oe@2-2-2013
21121045@unknown@formal@none@1@S@Another poked a hole in the heel of his shoe.@@@@1@10@@oe@2-2-2013
21121046@unknown@formal@none@1@S@A food caterer stashed stones in the false bottom of a milk pail.@@@@1@13@@oe@2-2-2013
21121047@unknown@formal@none@1@S@None made it past the body searches and X-rays of mine security.@@@@1@12@@oe@2-2-2013
21122001@unknown@formal@none@1@S@DISASTER STATES aren't jumping to raise taxes for relief and recovery.@@@@1@11@@oe@2-2-2013
21122002@unknown@formal@none@1@S@Not yet, anyway.@@@@1@3@@oe@2-2-2013
21122003@unknown@formal@none@1@S@Just after Hurricane Hugo battered South Carolina, some officials talked of perhaps adding a penny to the state gasoline tax or raising property taxes.@@@@1@24@@oe@2-2-2013
21122004@unknown@formal@none@1@S@Gov. Campbell responded, "They're mentioning rope when there's been a hanging in the family."@@@@1@14@@oe@2-2-2013
21122005@unknown@formal@none@1@S@A spokesman says the governor believes he can avoid increases by relying on federal aid and shifting funds in state programs.@@@@1@21@@oe@2-2-2013
21122006@unknown@formal@none@1@S@Still, Hugo's impact may revive unsuccessful proposals to give local governments authority to levy sales taxes.@@@@1@16@@oe@2-2-2013
21122007@unknown@formal@none@1@S@A spokesman for North Carolina Gov. Martin says Hugo hasn't prompted proposals for state or local increases.@@@@1@17@@oe@2-2-2013
21122008@unknown@formal@none@1@S@California, where earthquake damage may top $5 billion, plans a special legislative session.@@@@1@13@@oe@2-2-2013
21122009@unknown@formal@none@1@S@Property-tax relief is likely.@@@@1@4@@oe@2-2-2013
21122010@unknown@formal@none@1@S@Legislators are talking about temporary rises in sales or gasoline taxes, although Gov. Deukmejian says they should be a last resort.@@@@1@21@@oe@2-2-2013
21122011@unknown@formal@none@1@S@Needs aren't clear, and the state constitution makes increasing taxes and spending very difficult.@@@@1@14@@oe@2-2-2013
21122012@unknown@formal@none@1@S@But some legislators think the time may be ripe to revise the constitution.@@@@1@13@@oe@2-2-2013
21122013@unknown@formal@none@1@S@THE IRS WILL PAY if its error burdens you with bank charges.@@@@1@12@@oe@2-2-2013
21122014@unknown@formal@none@1@S@Policy statement P-5-39 sets out terms.@@@@1@6@@oe@2-2-2013
21122015@unknown@formal@none@1@S@As a result of an erroneous IRS levy on a bank account, a taxpayer may incur administrative and overdraft charges.@@@@1@20@@oe@2-2-2013
21122016@unknown@formal@none@1@S@If the IRS admits its error and the charges have been paid, it will reimburse a taxpayer who hasn't refused to give timely answers to IRS inquiries or hasn't contributed to continuing or compounding the error.@@@@1@36@@oe@2-2-2013
21122017@unknown@formal@none@1@S@The IRS recently amended the policy to cover stop-payment charges for checks lost by the IRS.@@@@1@16@@oe@2-2-2013
21122018@unknown@formal@none@1@S@If the IRS asks for and gets a replacement for a check that it concedes it lost in processing, it will reimburse the taxpayer for the stop-payment charge on the original.@@@@1@31@@oe@2-2-2013
21122019@unknown@formal@none@1@S@Reimbursement claims must be filed with the IRS district or service-center director within a year after the expense accrues.@@@@1@19@@oe@2-2-2013
21122020@unknown@formal@none@1@S@If the IRS seeks late-payment interest because of the lost check, you should request interest abatement, publisher Prentice Hall notes.@@@@1@20@@oe@2-2-2013
21122021@unknown@formal@none@1@S@JUST FIVE ACRES MORE are all we need to feel really at home, they say.@@@@1@15@@oe@2-2-2013
21122022@unknown@formal@none@1@S@A couple we'll call the Blandings spent nearly $800,000 on a 15-acre plot and main home and have an old $175,000 mortgage exempt from the new limit on mortgage-interest deductions.@@@@1@30@@oe@2-2-2013
21122023@unknown@formal@none@1@S@They plan to expand the home site by buying five adjoining acres for $200,000, borrowed against a first mortgage on the five acres and also collateralized by the 15 acres.@@@@1@30@@oe@2-2-2013
21122024@unknown@formal@none@1@S@Their debt will be well under the $1 million limit -- on borrowing to acquire, build, or improve a home -- that qualifies for mortgage-interest deductions.@@@@1@26@@oe@2-2-2013
21122025@unknown@formal@none@1@S@As you can guess, the Blandings want to deduct home-mortgage interest on the $200,000 loan.@@@@1@15@@oe@2-2-2013
21122026@unknown@formal@none@1@S@But, IRS private ruling 8940061 notes, no rule or court case bears directly on the issue of adding land to a principal residence.@@@@1@23@@oe@2-2-2013
21122027@unknown@formal@none@1@S@So the IRS has drawn a rationale from the sale of a home site split in two and sold in different years to the same buyer; a court let the seller in that old case treat this as the sale of one residence.@@@@1@43@@oe@2-2-2013
21122028@unknown@formal@none@1@S@Thus, the IRS says, the Blandings' $200,000 loan is home-acquisition debt, and interest on it is fully deductible.@@@@1@18@@oe@2-2-2013
21122029@unknown@formal@none@1@S@EARTHQUAKE VICTIMS facing imminent filing and payment deadlines will get extensions and penalty waivers like those provided for Hugo's victims; IRS Notice 89108 has details.@@@@1@25@@oe@2-2-2013
21122030@unknown@formal@none@1@S@Notice 89-107 offers added relief for hurricane-hit concerns that must file pension and benefit-plan returns.@@@@1@15@@oe@2-2-2013
21122031@unknown@formal@none@1@S@REPORTS OF PAYMENTS to independent contractors for services must be filed by businesses, but don't bet that contractors' unreported income will be detected that way.@@@@1@25@@oe@2-2-2013
21122032@unknown@formal@none@1@S@The General Accounting Office estimates that 50% of IRS audits don't spot companies that fail to file the reports.@@@@1@19@@oe@2-2-2013
21122033@unknown@formal@none@1@S@UH HUH:@@@@1@2@@oe@2-2-2013
21122034@unknown@formal@none@1@S@A claim by Peter Testa of New York that a stranger paid him $500 to go into a bank and change $44,400 in small bills into large bills "is unconvincing," the Tax Court found.@@@@1@34@@oe@2-2-2013
21122035@unknown@formal@none@1@S@It held that Testa is taxable on $44,400 of unreported income.@@@@1@11@@oe@2-2-2013
21122036@unknown@formal@none@1@S@WHY BE A MIDDLEMAN for charitable gifts? a retiree asks.@@@@1@10@@oe@2-2-2013
21122037@unknown@formal@none@1@S@A retired electrical engineer we'll call Ben works part-time as a consultant, but he doesn't want to earn so much that Social Security reduces his benefits.@@@@1@26@@oe@2-2-2013
21122038@unknown@formal@none@1@S@So he has arranged for a university foundation to set up a scholarship fund for undergraduate engineering students.@@@@1@18@@oe@2-2-2013
21122039@unknown@formal@none@1@S@He plans to tell clients to pay certain fees directly to the foundation instead of to him; he would omit those fees from income reported on his return.@@@@1@28@@oe@2-2-2013
21122040@unknown@formal@none@1@S@So he asked the IRS if the plan would work.@@@@1@10@@oe@2-2-2013
21122041@unknown@formal@none@1@S@Well, notes IRS private ruling 8934014, "a fundamental principle" is that income must be taxed to whoever earns it.@@@@1@19@@oe@2-2-2013
21122042@unknown@formal@none@1@S@The rule goes back at least as far as a 1930 Supreme Court decision, Robert Willens of Shearson Lehman Hutton says.@@@@1@21@@oe@2-2-2013
21122043@unknown@formal@none@1@S@If you assign your income to another, you still have controlled its disposition and enjoyed the fruits of your labor, even if indirectly.@@@@1@23@@oe@2-2-2013
21122044@unknown@formal@none@1@S@Ben earns any fees sent directly to charity and is taxable on them, the IRS says; of course, he also may take a charitable deduction for them.@@@@1@27@@oe@2-2-2013
21122045@unknown@formal@none@1@S@BRIEFS:@@@@1@1@@oe@2-2-2013
21122046@unknown@formal@none@1@S@Ways and Means veteran Gephardt (D., Mo.) moves to the House Budget Committee; Rep. Cardin (D., Md.) replaces him. . . .@@@@1@22@@oe@2-2-2013
21122047@unknown@formal@none@1@S@Seattle's license fees for adult peep shows vary from those for other coin-operated amusements without serving a substantial government interest and are unconstitutional, the ninth-circuit appeals court holds for Acorn Investments Inc.@@@@1@32@@oe@2-2-2013
21123001@unknown@formal@none@1@S@Blue-chip advertisers have plenty of complaints about the magazines they advertise in, ranging from inadequate consumer research to ad "clutter" and a seemingly unchecked proliferation of special interest magazines.@@@@1@29@@oe@2-2-2013
21123002@unknown@formal@none@1@S@Criticism from such big advertisers as Estee Lauder Inc., Colgate-Palmolive Co. and Seagram Co. put a damper on the euphoria at the American Magazine Conference here.@@@@1@26@@oe@2-2-2013
21123003@unknown@formal@none@1@S@The conference opened Monday with glowing reports about consumer magazines' growth in circulation and advertising revenue in the past year.@@@@1@20@@oe@2-2-2013
21123004@unknown@formal@none@1@S@"Magazines are not providing us in-depth information on circulation," said Edgar Bronfman Jr., president and chief operating officer of Seagram, in a panel discussion.@@@@1@24@@oe@2-2-2013
21123005@unknown@formal@none@1@S@"How do readers feel about the magazine?@@@@1@7@@oe@2-2-2013
21123006@unknown@formal@none@1@S@How deeply do they read it?@@@@1@6@@oe@2-2-2013
21123007@unknown@formal@none@1@S@Research doesn't tell us whether people actually do read the magazines they subscribe to."@@@@1@14@@oe@2-2-2013
21123008@unknown@formal@none@1@S@Reuben Mark, chief executive of Colgate-Palmolive, said advertisers lack detailed demographic and geographic breakdowns of magazines' audiences.@@@@1@17@@oe@2-2-2013
21123009@unknown@formal@none@1@S@"We need research that convinces us that magazines are a real value in reader's lives, that readers are really involved."@@@@1@20@@oe@2-2-2013
21123010@unknown@formal@none@1@S@The critics also lambasted the magazine industry for something executives often are very proud of: the growth in magazine titles during the 1980s.@@@@1@23@@oe@2-2-2013
21123011@unknown@formal@none@1@S@Leonard Lauder, president and chief executive officer of Estee Lauder, said consumer magazines are suffering from what he called "niche-itis,"the increasing number of magazines that target the idosyncratic interests of readers.@@@@1@31@@oe@2-2-2013
21123012@unknown@formal@none@1@S@"Niche-itis fragments our advertising dollars," said Mr. Lauder.@@@@1@8@@oe@2-2-2013
21123013@unknown@formal@none@1@S@"We are being over-magazined.@@@@1@4@@oe@2-2-2013
21123014@unknown@formal@none@1@S@We are constantly faced with deciding which partnerships {with magazines} we can keep."@@@@1@13@@oe@2-2-2013
21123015@unknown@formal@none@1@S@He added: "There's probably even a magazine for left-handed golfers . . . but the general interest magazine is something we all miss, and it should come back."@@@@1@28@@oe@2-2-2013
21123016@unknown@formal@none@1@S@Mr. Lauder also attacked what he sees as the wide imitation of Elle, a fashion magazine published by Diamandis Communications Inc., and criticized the practice of stacking ads at the front of magazines.@@@@1@33@@oe@2-2-2013
21123017@unknown@formal@none@1@S@"Readers don't want to face all those ad pages at the front of a magazine," he said.@@@@1@17@@oe@2-2-2013
21123018@unknown@formal@none@1@S@Magazine editors did not take the criticisms lying down.@@@@1@9@@oe@2-2-2013
21123019@unknown@formal@none@1@S@"We spend a fortune on research information," said Steve Burzon, publisher of Meredith Corp.'s Metropolitan Home.@@@@1@16@@oe@2-2-2013
21123020@unknown@formal@none@1@S@And Tina Brown, editor of Conde Nast Publications Inc.'s Vanity Fair, said advertisers are frequently asked to take advertising positions in the back of her magazine to relieve ad clutter.@@@@1@30@@oe@2-2-2013
21123021@unknown@formal@none@1@S@"But advertisers wouldn't think of it," she said.@@@@1@8@@oe@2-2-2013
21123022@unknown@formal@none@1@S@Bernard Leser, president of Conde Nast, added: "Our research shows we sell more of our heavier issues . . . because readers believe they are getting more for what they pay for.@@@@1@32@@oe@2-2-2013
21124001@unknown@formal@none@1@S@Wall Street securities giant Salomon Inc. posted a big, unexpected earnings gain in the third quarter, buoyed by its securities trading and investment banking activities.@@@@1@25@@oe@2-2-2013
21124002@unknown@formal@none@1@S@Salomon said net income soared to $177 million, or $1.28 a share, from $65 million, or 38 cents a share, a year earlier.@@@@1@23@@oe@2-2-2013
21124003@unknown@formal@none@1@S@Revenue more than doubled to $2.62 billion from $1.29 billion.@@@@1@10@@oe@2-2-2013
21124004@unknown@formal@none@1@S@A Salomon spokesman said its stock, bond and foreign exchange trading, as well as its investment banking operations, were mostly responsible for the earnings jump.@@@@1@25@@oe@2-2-2013
21124005@unknown@formal@none@1@S@"The earnings were fine and above expectations," said Michael W. Blumstein, an analyst at First Boston Corp.@@@@1@17@@oe@2-2-2013
21124006@unknown@formal@none@1@S@Nevertheless, Salomon's stock fell $1.125 yesterday to close at $23.25 a share in New York Stock Exchange composite trading.@@@@1@19@@oe@2-2-2013
21124007@unknown@formal@none@1@S@"I suspect October wasn't as good as the third quarter, and they'll have difficulty matching the third quarter in the fourth quarter," Mr. Blumstein said.@@@@1@25@@oe@2-2-2013
21124008@unknown@formal@none@1@S@But some analysts say Salomon has turned the corner.@@@@1@9@@oe@2-2-2013
21124009@unknown@formal@none@1@S@"I upgraded the firm to my buy list because I certainly see signs of improvement," says Lawrence Eckenfelder, an analyst at Prudential-Bache Securities.@@@@1@23@@oe@2-2-2013
21124010@unknown@formal@none@1@S@"The market has been overly harsh to them."@@@@1@8@@oe@2-2-2013
21124011@unknown@formal@none@1@S@Analysts say investors remain skittish toward Salomon because of its volatile earnings.@@@@1@12@@oe@2-2-2013
21124012@unknown@formal@none@1@S@In the first quarter, Salomon had a record loss of $28 million on revenue of $1.54 billion.@@@@1@17@@oe@2-2-2013
21124013@unknown@formal@none@1@S@But in the second quarter, Salomon posted a record $253 million net on revenue of $2.33 billion.@@@@1@17@@oe@2-2-2013
21125001@unknown@formal@none@1@S@For the real estate industry, a watchword for the 1990s will be buy, more than build.@@@@1@16@@oe@2-2-2013
21125002@unknown@formal@none@1@S@That's the word expected to be on the lips of the more than 3,000 developers, pension-fund advisers and real estate financiers slated to attend a four-day conference, beginning here today, sponsored by the Urban Land Institute.@@@@1@36@@oe@2-2-2013
21125003@unknown@formal@none@1@S@The ULI is a non-profit research and education group based in Washington, D.C., with 14,000 members nationwide.@@@@1@17@@oe@2-2-2013
21125004@unknown@formal@none@1@S@With the market overbuilt, builders are finding limited opportunities and increased risks.@@@@1@12@@oe@2-2-2013
21125005@unknown@formal@none@1@S@Developers and money managers are looking for bargains among the thousands of financially troubled properties around the country.@@@@1@18@@oe@2-2-2013
21125006@unknown@formal@none@1@S@Real estate professionals now often bill themselves as "turnaround experts" and "workout specialists."@@@@1@13@@oe@2-2-2013
21125007@unknown@formal@none@1@S@Conference attendees are expected to be buzzing about the workings of the recently formed Resolution Trust Corp., a federal agency charged with disposing of an estimated $200 billion of real estate dumped in government hands by insolvent savings and loans.@@@@1@40@@oe@2-2-2013
21125008@unknown@formal@none@1@S@Developers are also eyeing the real estate portfolios of major corporations.@@@@1@11@@oe@2-2-2013
21125009@unknown@formal@none@1@S@Some plan to pursue foreign development ventures, mostly in Europe.@@@@1@10@@oe@2-2-2013
21125010@unknown@formal@none@1@S@And other developers may shift from commercial to residential development in the U.S.@@@@1@13@@oe@2-2-2013
21125011@unknown@formal@none@1@S@"There aren't as many economically viable alternatives for real estate developers in this country as 10 years ago," says Charles Shaw, a Chicago-based real estate developer. "@@@@1@27@@oe@2-2-2013
21125012@unknown@formal@none@1@S@So developers are saying they will look into distressed properties.@@@@1@10@@oe@2-2-2013
21125013@unknown@formal@none@1@S@They'll go into someone else's pasture as long as it's greener than the one they're in now."@@@@1@17@@oe@2-2-2013
21125014@unknown@formal@none@1@S@Developers are also forming more joint ventures with pension funds and insurance companies that can finance big projects.@@@@1@18@@oe@2-2-2013
21125015@unknown@formal@none@1@S@The builders are more willing to give up some equity and rely on management and consulting fees to stay afloat in the soft market.@@@@1@24@@oe@2-2-2013
21125016@unknown@formal@none@1@S@"Developers are teaming up with institutions often acting as project managers," says Smedes York, ULI president and president of York Properties Inc., of Raleigh, N.C.@@@@1@25@@oe@2-2-2013
21125017@unknown@formal@none@1@S@"They are growing more pragmatic about their role."@@@@1@8@@oe@2-2-2013
21125018@unknown@formal@none@1@S@Real estate firms are also using their alliances with financial institutions to amass acquisition funds.@@@@1@15@@oe@2-2-2013
21125019@unknown@formal@none@1@S@"Why should you beat your brains out fighting the environmentalists, the neighborhood groups, dealing with traffic mitigation, sewers and fighting city hall, then try to convince a lender to lend you money in an overbuilt market when you can get pension fund money, buy a portfolio, sell off pieces off it and play your own game?" says Jack Rodman, managing partner of the Los Angeles office of Kenneth Leventhal Inc. a national accounting firm.@@@@1@74@@oe@2-2-2013
21125020@unknown@formal@none@1@S@But experts say that when it comes to distressed properties, finding diamonds in the rough isn't easy.@@@@1@17@@oe@2-2-2013
21125021@unknown@formal@none@1@S@The level of interest in the RTC's properties has been greater than expected, and has come from larger companies than initially anticipated, says Stan Ross, Leventhal's co-managing partner.@@@@1@28@@oe@2-2-2013
21125022@unknown@formal@none@1@S@And to succeed in the turnaround business, he says, developers may have to put in a lot of money and time.@@@@1@21@@oe@2-2-2013
21125023@unknown@formal@none@1@S@Finding pension funds and other sources willing to invest is a high priority.@@@@1@13@@oe@2-2-2013
21125024@unknown@formal@none@1@S@Quips David Shulman, director of real estate research for Salomon Brothers Inc.: "A theme of the Urban Land conference will be `take a pension fund manager to lunch.@@@@1@28@@oe@2-2-2013
21126001@unknown@formal@none@1@S@Sheraton Corp. and Pan American World Airways announced that they and two Soviet partners will construct two "world-class" hotels within a mile of Red Square in Moscow.@@@@1@27@@oe@2-2-2013
21126002@unknown@formal@none@1@S@U.S. and Soviet officials hailed the joint project as a new indication of the further thaw in U.S.-Soviet relations.@@@@1@19@@oe@2-2-2013
21126003@unknown@formal@none@1@S@"This is an outstanding example of how the East and the West can work together for their mutual benefit and progress," said Soviet Ambassador Yuri Dubinin, who hosted a signing ceremony for the venture's partners at the Soviet embassy here.@@@@1@40@@oe@2-2-2013
21126004@unknown@formal@none@1@S@Commerce Secretary Robert Mosbacher, who attended the ceremony, called the undertaking a "historic step" in the evolution of U.S.-Soviet ties.@@@@1@20@@oe@2-2-2013
21126005@unknown@formal@none@1@S@He added that it likely will have a "mulitiplier effect" in stimulating further trade between the two countries.@@@@1@18@@oe@2-2-2013
21126006@unknown@formal@none@1@S@The project will be the largest U.S.-backed joint venture to be undertaken in the Soviet Union in recent years.@@@@1@19@@oe@2-2-2013
21126007@unknown@formal@none@1@S@One of the hotels, to be called the Sheraton Moscow, will have 450 rooms and will cost an estimated $75 million to build.@@@@1@23@@oe@2-2-2013
21126008@unknown@formal@none@1@S@The six-story hotel will be on Gorky Street and initially will cater mostly to business travelers.@@@@1@16@@oe@2-2-2013
21126009@unknown@formal@none@1@S@It will have a Russian tavern, an English pub, a discotheque and Japanese and Italian restaurants, according to a Sheraton announcement.@@@@1@21@@oe@2-2-2013
21126010@unknown@formal@none@1@S@The hotel is scheduled to open in 1992.@@@@1@8@@oe@2-2-2013
21126011@unknown@formal@none@1@S@The second hotel, to be called the Budapest Hotel, is to be constructed at a site even closer to Red Square.@@@@1@21@@oe@2-2-2013
21126012@unknown@formal@none@1@S@Details about its size and cost haven't yet been determined.@@@@1@10@@oe@2-2-2013
21126013@unknown@formal@none@1@S@Sheraton, a subsidiary of ITT Corp., will have a 40% share in the two hotels; Pan American, a subsidiary of Pan Am Corp., will have a 10% share.@@@@1@28@@oe@2-2-2013
21126014@unknown@formal@none@1@S@The Soviet owners will be Mossoviet, Moscow's city governing body, and Aeroflot, the Soviet national airline.@@@@1@16@@oe@2-2-2013
21126015@unknown@formal@none@1@S@Although a Finnish group has a minority interest in an already operating Moscow hotel, the Sheraton-Pan Am venture will be the first joint-venture hotels in the Soviet Union to have as much as 50% foreign ownership.@@@@1@36@@oe@2-2-2013
21126016@unknown@formal@none@1@S@U.S. companies account for less than 8% of the 1,000 or more Soviet joint ventures that have been announced since the Soviets began encouraging such undertakings in 1987.@@@@1@28@@oe@2-2-2013
21126017@unknown@formal@none@1@S@But some U.S. companies are negotiating projects that could be among the biggest ones to be launched.@@@@1@17@@oe@2-2-2013
21126018@unknown@formal@none@1@S@Chevron Corp., Amoco Corp., Archer-Daniels-Midland Co., and Eastman Kodak Co. are among the U.S. companies known to be considering such ventures.@@@@1@21@@oe@2-2-2013
21126019@unknown@formal@none@1@S@Sheraton and Pan Am said they are assured under the Soviet joint-venture law that they can repatriate profits from their hotel venture.@@@@1@22@@oe@2-2-2013
21126020@unknown@formal@none@1@S@The Sheraton Moscow will charge about $140 to $150 a day for each of its rooms, and it will accept payment only in currencies that can be traded in foreign exchange markets, according to a Sheraton executive.@@@@1@37@@oe@2-2-2013
21126021@unknown@formal@none@1@S@Thomas Plaskett, Pan Am's chairman, said the U.S. airline's participation is a natural outgrowth of its current arrangements with Aeroflot to jointly operate nonstop New York-Moscow flights.@@@@1@27@@oe@2-2-2013
21126022@unknown@formal@none@1@S@He said the rising volume of passenger traffic on this route justifies a major investment in new high-standard Moscow hotels.@@@@1@20@@oe@2-2-2013
21127001@unknown@formal@none@1@S@David Shaffer was named to the new post of executive vice president of the Maxwell Macmillan group of this communications giant.@@@@1@21@@oe@2-2-2013
21127002@unknown@formal@none@1@S@Mr. Shaffer takes primary responsibility for the electronic and technical-services group.@@@@1@11@@oe@2-2-2013
21127003@unknown@formal@none@1@S@He had been group vice president of the electronic-publishing group.@@@@1@10@@oe@2-2-2013
21127004@unknown@formal@none@1@S@Also, Sheldon Aboff, formerly a vice president at Maxwell, was named group vice president with responsibility for various electronic and publishing-group companies.@@@@1@22@@oe@2-2-2013
21128001@unknown@formal@none@1@S@Soichiro Honda's picture now hangs with Henry Ford's in the U.S. Automotive Hall of Fame, and the game-show "Jeopardy" is soon to be Sony-owned.@@@@1@24@@oe@2-2-2013
21128002@unknown@formal@none@1@S@But no matter how much Japan gets under our skin, we'll still have mom and apple pie.@@@@1@17@@oe@2-2-2013
21128003@unknown@formal@none@1@S@On second thought, make that just mom.@@@@1@7@@oe@2-2-2013
21128004@unknown@formal@none@1@S@A Japanese apple called the Fuji is cropping up in orchards the way Hondas did on U.S. roads.@@@@1@18@@oe@2-2-2013
21128005@unknown@formal@none@1@S@By 1995 it will be planted more often than any other apple tree, according to a recent survey of six apple-industry sages by Washington State University horticulturist Robert Norton.@@@@1@29@@oe@2-2-2013
21128006@unknown@formal@none@1@S@Some fruit visionaries say the Fuji could someday tumble the Red Delicious from the top of America's apple heap.@@@@1@19@@oe@2-2-2013
21128007@unknown@formal@none@1@S@It certainly won't get there on looks.@@@@1@7@@oe@2-2-2013
21128008@unknown@formal@none@1@S@Compared to the Red Delicious, the exemplar of apple pulchritude, the Fuji is decidedly more dowdy -- generally smaller, less-perfectly shaped, greenish, with tinges of red.@@@@1@26@@oe@2-2-2013
21128009@unknown@formal@none@1@S@To hear most U.S. growers tell it, we'd still be in Paradise if the serpent had proffered one to Eve.@@@@1@20@@oe@2-2-2013
21128010@unknown@formal@none@1@S@But how sweet it is.@@@@1@5@@oe@2-2-2013
21128011@unknown@formal@none@1@S@It has more sugar "than any apple we've ever tested," says Duane Greene, a University of Massachusetts pomologist, or apple scholar.@@@@1@21@@oe@2-2-2013
21128012@unknown@formal@none@1@S@It has a long shelf life and "doesn't fool the public," says Grady Auvil, an Orondo, Wash., grower who is planting Fujis and spreading the good word about them.@@@@1@29@@oe@2-2-2013
21128013@unknown@formal@none@1@S@"It doesn't look nice on the outside while getting mealy inside."@@@@1@11@@oe@2-2-2013
21128014@unknown@formal@none@1@S@Mr. Auvil, razor sharp at 83, has picked and packed a zillion pecks of apples over the past 65 years.@@@@1@20@@oe@2-2-2013
21128015@unknown@formal@none@1@S@He is known as the father of the U.S.-grown Granny Smith, a radically different apple that the conventional wisdom once said would never catch on.@@@@1@25@@oe@2-2-2013
21128016@unknown@formal@none@1@S@It did, shaking the apple establishment to its roots.@@@@1@9@@oe@2-2-2013
21128017@unknown@formal@none@1@S@Now, even more radical changes seem afoot as the grand old maverick of American apples plays the role of Hiroshi Appleseed.@@@@1@21@@oe@2-2-2013
21128018@unknown@formal@none@1@S@"The Fuji is going to be No. 1 to replace the Red Delicious," he says.@@@@1@15@@oe@2-2-2013
21128019@unknown@formal@none@1@S@The Delicious hegemony won't end anytime soon.@@@@1@7@@oe@2-2-2013
21128020@unknown@formal@none@1@S@New apple trees grow slowly, and the Red Delicious is almost as entrenched as mom.@@@@1@15@@oe@2-2-2013
21128021@unknown@formal@none@1@S@Its roots are patriotic -- with the first trees appearing in 1872 in an orchard near Peru, Iowa, to be exact.@@@@1@21@@oe@2-2-2013
21128022@unknown@formal@none@1@S@For more than 50 years, it has been the apple of our eye.@@@@1@13@@oe@2-2-2013
21128023@unknown@formal@none@1@S@A good Delicious can indeed be delicious.@@@@1@7@@oe@2-2-2013
21128024@unknown@formal@none@1@S@More than twice as many Red Delicious apples are grown as the Golden variety, America's No. 2 apple.@@@@1@18@@oe@2-2-2013
21128025@unknown@formal@none@1@S@But the apple industry is ripe for change.@@@@1@8@@oe@2-2-2013
21128026@unknown@formal@none@1@S@"Red Delicious has been overplanted, and its prices have dropped below the cost of production," says Washington State's Mr. Norton.@@@@1@20@@oe@2-2-2013
21128027@unknown@formal@none@1@S@The scare over Alar, a growth regulator that makes apples redder and crunchier but may be carcinogenic, made consumers shy away from the Delicious, though they were less affected than the McIntosh.@@@@1@32@@oe@2-2-2013
21128028@unknown@formal@none@1@S@The glut and consequent lower prices, combined with cancer fears, was a very serious blow to growers.@@@@1@17@@oe@2-2-2013
21128029@unknown@formal@none@1@S@"A lot of growers won't be around in a few years," says Mr. Norton, although they have stopped using Alar.@@@@1@20@@oe@2-2-2013
21128030@unknown@formal@none@1@S@One may be William Broderick, a Sterling, Mass., grower.@@@@1@9@@oe@2-2-2013
21128031@unknown@formal@none@1@S@"This is beautiful stuff," he says, looking ruefully at big boxes of just-picked Red Delicious next to his barn.@@@@1@19@@oe@2-2-2013
21128032@unknown@formal@none@1@S@"But I'm going to lose $50,000 to $60,000 on it.@@@@1@10@@oe@2-2-2013
21128033@unknown@formal@none@1@S@I'm going to have to get another job this year just to eat."@@@@1@13@@oe@2-2-2013
21128034@unknown@formal@none@1@S@Besides rotten prices, he has been hit recently by hail, a bark-nibbling horde of mice, fungi and bugs.@@@@1@18@@oe@2-2-2013
21128035@unknown@formal@none@1@S@Some 500 insects and 150 diseases wiggle, chew and romp through growers' nightmares, including maggots, mites, mildew, thrips, black rot and the flat-headed borer.@@@@1@24@@oe@2-2-2013
21128036@unknown@formal@none@1@S@Even if a grower beats them back, his $2,000 rented bees might buzz off to the neighbors' orchards instead of pollinating his, Mr. Broderick says.@@@@1@25@@oe@2-2-2013
21128037@unknown@formal@none@1@S@Though growers can't always keep the worm from the apple, they can protect themselves against the price vagaries of any one variety by diversifying -- into the recently imported Gala, a sweet New Zealand native; the Esopus Spitzenburg, reportedly Thomas Jefferson's favorite apple; disease-resistant kinds like the Liberty.@@@@1@48@@oe@2-2-2013
21128038@unknown@formal@none@1@S@"I've ripped out a lot of Delicious" and grafted the trees with many different shoots, says Steve Wood, a West Lebanon, N.H., grower, tramping through his 100-acre Poverty Lane Orchard on a crisp autumn day recently.@@@@1@36@@oe@2-2-2013
21128039@unknown@formal@none@1@S@"I've got 70 kinds of apples.@@@@1@6@@oe@2-2-2013
21128040@unknown@formal@none@1@S@Here's a Waltana," he exclaims, picking one off a tree.@@@@1@10@@oe@2-2-2013
21128041@unknown@formal@none@1@S@He bites it, scowls and throws it down. "@@@@1@9@@oe@2-2-2013
21128042@unknown@formal@none@1@S@It's a real dog."@@@@1@4@@oe@2-2-2013
21128043@unknown@formal@none@1@S@Supermarkets are getting into the variety act, too.@@@@1@8@@oe@2-2-2013
21128044@unknown@formal@none@1@S@They still buy apples mainly for big, red good looks -- that's why so many taste like woodchucks' punching bags.@@@@1@20@@oe@2-2-2013
21128045@unknown@formal@none@1@S@But freshness counts more than it once did, and stores are expanding shelf space for unconventional, but tastier, and often pricier, apples.@@@@1@22@@oe@2-2-2013
21128046@unknown@formal@none@1@S@"Rather than sell 39-cents-a-pound Delicious, maybe we can sell 79-cents-a-pound Fujis," says Chuck Tryon, perishables director for Super Valu Inc., a Minneapolis supermarket chain and food distributor.@@@@1@27@@oe@2-2-2013
21128047@unknown@formal@none@1@S@The Fuji is a product of meticulous Japanese pomological engineering, which fostered it 50 years ago at a government research orchard.@@@@1@21@@oe@2-2-2013
21128048@unknown@formal@none@1@S@Japanese researchers have bred dozens of strains of Fujis to hone its color, taste and shelf life.@@@@1@17@@oe@2-2-2013
21128049@unknown@formal@none@1@S@Now the best of them age as gracefully as Grannies, the industry's gold standard for storability.@@@@1@16@@oe@2-2-2013
21128050@unknown@formal@none@1@S@In the cornucopia of go-go apples, the Fuji's track record stands out: During the past 15 years, it has gone from almost zilch to some 50% of Japan's market.@@@@1@29@@oe@2-2-2013
21128051@unknown@formal@none@1@S@"The Japanese apple market is very keyed to high quality," says David Lane, a scientist at a Canadian horticulture research center in Summerland, British Columbia, and so apples are more of a delicacy there than a big food commodity.@@@@1@39@@oe@2-2-2013
21128052@unknown@formal@none@1@S@The U.S. Department of Agriculture estimates that this year Americans will eat about 40% more fresh apples per capita than the Japanese.@@@@1@22@@oe@2-2-2013
21128053@unknown@formal@none@1@S@The Fuji is still small potatoes in the U.S., sold mainly in fruit boutiques.@@@@1@14@@oe@2-2-2013
21128054@unknown@formal@none@1@S@But in California, says Craig Ito, a Fuji-apple grower, "There's a Fuji apple cult.@@@@1@14@@oe@2-2-2013
21128055@unknown@formal@none@1@S@Once somebody eats one, they get hooked."@@@@1@7@@oe@2-2-2013
21128056@unknown@formal@none@1@S@Mr. Auvil, the Washington grower, says that he could sell Fujis to Taiwan buyers at $40 a box if he had them.@@@@1@22@@oe@2-2-2013
21128057@unknown@formal@none@1@S@(Taiwan already is a big importer of Fujis from other places, he adds.)@@@@1@13@@oe@2-2-2013
21128058@unknown@formal@none@1@S@But his first crop won't be picked till next year.@@@@1@10@@oe@2-2-2013
21128059@unknown@formal@none@1@S@"I expect to see the demand exceed supply for Fujis for the next 10 to 15 years," he adds.@@@@1@19@@oe@2-2-2013
21128060@unknown@formal@none@1@S@Washington Red Delicious, by the way, are wholesaling for less than $10 a box these days.@@@@1@16@@oe@2-2-2013
21128061@unknown@formal@none@1@S@Mr. Auvil sees Fujis, in part, as striking a blow against the perversion of U.S. apples by supermarkets.@@@@1@18@@oe@2-2-2013
21128062@unknown@formal@none@1@S@"When the chain stores took over, there was no longer a connection between grower and consumer.@@@@1@16@@oe@2-2-2013
21128063@unknown@formal@none@1@S@A guy is sitting up in an office deciding what you're going to eat."@@@@1@14@@oe@2-2-2013
21128064@unknown@formal@none@1@S@After all, until the 1950s even the Red Delicious was a firm, delectable morsel.@@@@1@14@@oe@2-2-2013
21128065@unknown@formal@none@1@S@Then, as growers bred them more for looks, and to satisfy supermarket chains' demands of long-term storage, the Red went into decline.@@@@1@22@@oe@2-2-2013
21128066@unknown@formal@none@1@S@Now, those red applelike things stores sell in summer are fruitbowl lovely, but usually not good eating.@@@@1@17@@oe@2-2-2013
21128067@unknown@formal@none@1@S@They do deserve respect, however -- they are almost a year old, probably equal to about 106 in human years.@@@@1@20@@oe@2-2-2013
21128068@unknown@formal@none@1@S@The Fuji, to be sure, has blemishes too.@@@@1@8@@oe@2-2-2013
21128069@unknown@formal@none@1@S@It ripens later than most apples, and growing it in U.S. areas with chilly autumns may be tricky.@@@@1@18@@oe@2-2-2013
21128070@unknown@formal@none@1@S@Moreover, the frumpy Fuji must compete with an increasingly dolledup Delicious.@@@@1@11@@oe@2-2-2013
21128071@unknown@formal@none@1@S@Mr. Broderick, the Massachusetts grower, says the "big boss" at a supermarket chain even rejected his Red Delicious recently because they weren't waxed and brushed for extra shine.@@@@1@28@@oe@2-2-2013
21128072@unknown@formal@none@1@S@And he hadn't used hormones, which many growers employ to elongate their Delicious apples for greater eye appeal.@@@@1@18@@oe@2-2-2013
21128073@unknown@formal@none@1@S@Still, Mr. Auvil points out, Grannies became popular without big, red looks, so why not Fujis?@@@@1@16@@oe@2-2-2013
21128074@unknown@formal@none@1@S@He sees a shift in American values -- at least regarding apples -- toward more emphasis on substance and less on glitz.@@@@1@22@@oe@2-2-2013
21128075@unknown@formal@none@1@S@"Taste has finally come to the fore," he says.@@@@1@9@@oe@2-2-2013
21128076@unknown@formal@none@1@S@Or, for that matter, the core.@@@@1@6@@oe@2-2-2013
21129001@unknown@formal@none@1@S@Brush Wellman Inc. said its board increased the number of shares of common stock to be purchased under a previously authorized program to 3.9 million from 2.9 million.@@@@1@28@@oe@2-2-2013
21129002@unknown@formal@none@1@S@The maker of engineered materials has acquired more than 2.7 million shares under the program.@@@@1@15@@oe@2-2-2013
21130001@unknown@formal@none@1@S@The state attorney general's office filed suit against five New York brokerage firms, charging them with responsibility for much of a $200 million loss incurred by the state treasurer's office in 1987.@@@@1@32@@oe@2-2-2013
21130002@unknown@formal@none@1@S@The suit sets the firms' liability at more than $185 million.@@@@1@11@@oe@2-2-2013
21130003@unknown@formal@none@1@S@The firms are Morgan Stanley & Co., Salomon Brothers Inc., County Natwest Government Securities Inc., Greenwich Capital Markets Inc. and Goldman, Sachs & Co.@@@@1@24@@oe@2-2-2013
21130004@unknown@formal@none@1@S@The firms have all said that West Virginia's suit is without merit.@@@@1@12@@oe@2-2-2013
21130005@unknown@formal@none@1@S@On Friday, the firms filed a suit against West Virginia in New York state court asking for a declaratory judgment absolving them of liability.@@@@1@24@@oe@2-2-2013
21130006@unknown@formal@none@1@S@That suit is pending.@@@@1@4@@oe@2-2-2013
21130007@unknown@formal@none@1@S@The suits relate to a $200 million loss, disclosed in December, that was suffered by West Virginia's consolidated investment pool.@@@@1@20@@oe@2-2-2013
21130008@unknown@formal@none@1@S@The pool invested idle cash for many state agencies and local governments.@@@@1@12@@oe@2-2-2013
21130009@unknown@formal@none@1@S@In its suit, the attorney general's office alleges that brokers encouraged members of the treasurer's office to engage in high-volume, high-risk transactions that benefited the brokers.@@@@1@26@@oe@2-2-2013
21131001@unknown@formal@none@1@S@Few people are aware that the federal government lends almost as much money as it borrows.@@@@1@16@@oe@2-2-2013
21131002@unknown@formal@none@1@S@From 1980 to 1988, while federal budget deficits totaled $1.41 trillion, the government issued $394 billion of new direct loans and an additional $756 billion of new primary loan guarantees.@@@@1@30@@oe@2-2-2013
21131003@unknown@formal@none@1@S@These figures omit secondary guarantees, deposit insurance, and the activities of Government-Sponsored Enterprises (a huge concern in its own right, as detailed on this page May 3).@@@@1@27@@oe@2-2-2013
21131004@unknown@formal@none@1@S@Federal credit programs date back to the New Deal, and were meant to break even financially.@@@@1@16@@oe@2-2-2013
21131005@unknown@formal@none@1@S@Since the 1950s, federal lending has experienced extraordinary growth in credit volume, subsidy rates, and policy applications, spurred on by the growth of government in general and budget gimmicks and deceptive management in particular.@@@@1@34@@oe@2-2-2013
21131006@unknown@formal@none@1@S@As we will see, many of these obligations don't show up as part of the federal deficit.@@@@1@17@@oe@2-2-2013
21131007@unknown@formal@none@1@S@But recent events indicate that federal credit is out of control.@@@@1@11@@oe@2-2-2013
21131008@unknown@formal@none@1@S@Student loan defaults remain high at about 12%, and the program has been rocked by allegations of fraud and mismanagement.@@@@1@20@@oe@2-2-2013
21131009@unknown@formal@none@1@S@Farmers Home Administration (FmHA) loans have turned into de facto giveaway programs; losses over the next three years are expected to exceed $20 billion.@@@@1@24@@oe@2-2-2013
21131010@unknown@formal@none@1@S@Defaults on Veterans Affairs loan guarantees have quadrupled in the past eight years.@@@@1@13@@oe@2-2-2013
21131011@unknown@formal@none@1@S@Last month, the General Accounting Office reported that defaults in Federal Housing Administration guarantees were five times as high as previously estimated, and that FHA's equity fell to minus $2.9 billion.@@@@1@31@@oe@2-2-2013
21131012@unknown@formal@none@1@S@GAO's findings are particularly troubling because the FHA has about $300 billion in obligations outstanding and had previously been considered one of the most financially secure credit programs.@@@@1@28@@oe@2-2-2013
21131013@unknown@formal@none@1@S@Scores of other credit programs, subsidizing agriculture, small business, exporters, defense, energy, transportation and others, are less visible but in no better shape.@@@@1@23@@oe@2-2-2013
21131014@unknown@formal@none@1@S@If the programs continue their present path, the potential government losses are staggering: The federal government holds $222 billion in direct loans outstanding and backs an additional $550 billion in primary guarantees.@@@@1@32@@oe@2-2-2013
21131015@unknown@formal@none@1@S@(Secondary guarantees of pools of FHA- and VA-backed loans by the agency known as Ginnie Mae currently exceed $330 billion.)@@@@1@20@@oe@2-2-2013
21131016@unknown@formal@none@1@S@Although external events have contributed to the morass, the principal causes of the current crisis are internal and generic to all programs.@@@@1@22@@oe@2-2-2013
21131017@unknown@formal@none@1@S@To reduce the risks while still retaining the legitimate benefits these programs can provide, credit policy must: 1. Use credit to improve the operation of capital markets, not to provide subsidies.@@@@1@31@@oe@2-2-2013
21131018@unknown@formal@none@1@S@There is a fundamental conflict between providing a subsidy and maintaining the integrity of a credit program.@@@@1@17@@oe@2-2-2013
21131019@unknown@formal@none@1@S@If the program is meant to provide a subsidy, collecting the debt defeats the original goal.@@@@1@16@@oe@2-2-2013
21131020@unknown@formal@none@1@S@Thus, subsidized loans tend to turn into giveaway programs, with increasing subsidy and default rates over time.@@@@1@17@@oe@2-2-2013
21131021@unknown@formal@none@1@S@To avoid this problem, government should issue credit only if it intends to use every legal method to collect.@@@@1@19@@oe@2-2-2013
21131022@unknown@formal@none@1@S@In contrast, credit programs can be appropriate tools to improve the operation of capital markets.@@@@1@15@@oe@2-2-2013
21131023@unknown@formal@none@1@S@For example, legal restrictions on interstate banking once inhibited the supply of credit to the agricultural sector.@@@@1@17@@oe@2-2-2013
21131024@unknown@formal@none@1@S@Farm lending was enacted to correct this problem by providing a reliable flow of lendable funds.@@@@1@16@@oe@2-2-2013
21131025@unknown@formal@none@1@S@However, this in no way justifies the huge government subsidies and losses on such loans.@@@@1@15@@oe@2-2-2013
21131026@unknown@formal@none@1@S@Credit policy should separate these two competing objectives and eliminate aspects that provide the subsidy.@@@@1@15@@oe@2-2-2013
21131027@unknown@formal@none@1@S@For example, student loans currently attempt to subsidize college attendance and mitigate problems created by the fact that students' future earnings are not accepted as collateral.@@@@1@26@@oe@2-2-2013
21131028@unknown@formal@none@1@S@The program provides highly subsidized loans to any student whose family earns less than a particular amount.@@@@1@17@@oe@2-2-2013
21131029@unknown@formal@none@1@S@High default rates, a low interest rate, and government coverage of all interest costs while the student is in school make program costs extremely high.@@@@1@25@@oe@2-2-2013
21131030@unknown@formal@none@1@S@Families that do not need the loan can make money simply by putting the loan in the bank and paying it back when the student graduates.@@@@1@26@@oe@2-2-2013
21131031@unknown@formal@none@1@S@In contrast, a student loan program that was meant solely to correct capital-market imperfections would allow loans for any student, regardless of family income, at market or near-market rates.@@@@1@29@@oe@2-2-2013
21131032@unknown@formal@none@1@S@While the student was in school, interest costs would either be paid by the student or added to the loan balance.@@@@1@21@@oe@2-2-2013
21131033@unknown@formal@none@1@S@This program, combined with cash grants to needy students, would reduce program costs and much more effectively target the intended beneficiaries.@@@@1@21@@oe@2-2-2013
21131034@unknown@formal@none@1@S@2. Provide better incentives.@@@@1@4@@oe@2-2-2013
21131035@unknown@formal@none@1@S@Given the structure of most credit programs, it is surprising that default rates are not even higher.@@@@1@17@@oe@2-2-2013
21131036@unknown@formal@none@1@S@Guarantee rates are typically 100%, giving lenders little reason to screen customers carefully.@@@@1@13@@oe@2-2-2013
21131037@unknown@formal@none@1@S@Reducing those rates moderately (say, to 75%) would still provide substantial assistance to borrowers.@@@@1@14@@oe@2-2-2013
21131038@unknown@formal@none@1@S@But it would also encourage lenders to choose more creditworthy customers, and go a long way toward reducing defaults.@@@@1@19@@oe@2-2-2013
21131039@unknown@formal@none@1@S@For example, the Small Business Administration has had reasonable success in reducing both guarantee rates and default rates in its Preferred Lenders' Program.@@@@1@23@@oe@2-2-2013
21131040@unknown@formal@none@1@S@Borrowers' incentives are equally skewed.@@@@1@5@@oe@2-2-2013
21131041@unknown@formal@none@1@S@Since the government has a dismal record of collecting bad debts, the costs to the borrower of defaulting are usually low.@@@@1@21@@oe@2-2-2013
21131042@unknown@formal@none@1@S@In addition, it is often possible to obtain a new government loan even if existing debts are not paid off.@@@@1@20@@oe@2-2-2013
21131043@unknown@formal@none@1@S@Simple policy prescriptions in this case would be to improve debt collection (taking the gloves off contracted collection agencies) and to deny new credit to defaulters.@@@@1@26@@oe@2-2-2013
21131044@unknown@formal@none@1@S@These provisions would be difficult to enforce for a program intended to provide a subsidy, but would be reasonable and effective devices for programs that attempt to offset market imperfections.@@@@1@30@@oe@2-2-2013
21131045@unknown@formal@none@1@S@3. Record the true costs of credit programs in the federal budget.@@@@1@12@@oe@2-2-2013
21131046@unknown@formal@none@1@S@Since the budget measures cash flow, a new $1 direct loan is treated as a $1 expenditure, even though at least part of the loan will be paid back.@@@@1@29@@oe@2-2-2013
21131047@unknown@formal@none@1@S@Loan guarantees don't appear at all until the borrower defaults, so new guarantees do not raise the deficit, even though they create future liabilities for the government.@@@@1@27@@oe@2-2-2013
21131048@unknown@formal@none@1@S@By converting an expenditure or loan to a guarantee, the government can ensure the same flow of resources and reduce the current deficit.@@@@1@23@@oe@2-2-2013
21131049@unknown@formal@none@1@S@Predictably, guarantees outstanding have risen by $130 billion since 1985, while direct loans outstanding have fallen by $30 billion.@@@@1@19@@oe@2-2-2013
21131050@unknown@formal@none@1@S@The true budgetary cost of a credit subsidy is the discounted value of the net costs to government.@@@@1@18@@oe@2-2-2013
21131051@unknown@formal@none@1@S@This figure could be estimated using techniques employed by private lenders to forecast losses, or determined by selling loans to private owners (without federal guarantees).@@@@1@25@@oe@2-2-2013
21131052@unknown@formal@none@1@S@Neither technique is perfect, but both are better than the current system, which misstates the costs of new credit programs by amounts that vary substantially and average about $20 billion annually, according to the Congressional Budget Office.@@@@1@37@@oe@2-2-2013
21131053@unknown@formal@none@1@S@A budget that reflected the real costs of lending would eliminate incentives to convert spending or lending programs to guarantees and would let taxpayers know what Congress is committing them to.@@@@1@31@@oe@2-2-2013
21131054@unknown@formal@none@1@S@4. Impose standard accounting and administrative practices.@@@@1@7@@oe@2-2-2013
21131055@unknown@formal@none@1@S@Creative accounting is a hallmark of federal credit.@@@@1@8@@oe@2-2-2013
21131056@unknown@formal@none@1@S@Many agencies roll over their debt, paying off delinquent loans by issuing new loans, or converting defaulted loan guarantees into direct loans.@@@@1@22@@oe@2-2-2013
21131057@unknown@formal@none@1@S@In any case, they avoid having to write off the loans.@@@@1@11@@oe@2-2-2013
21131058@unknown@formal@none@1@S@Some agencies simply keep bad loans on the books; as late as 1987, the Export-Import Bank held in its portfolio at face value loans made to Cuba in the 1950s.@@@@1@30@@oe@2-2-2013
21131059@unknown@formal@none@1@S@More seriously, FmHA has carried several billion dollars of defaulted loans at face value.@@@@1@14@@oe@2-2-2013
21131060@unknown@formal@none@1@S@Until GAO's recent audit, FHA books had not been subject to a complete external audit in 15 years.@@@@1@18@@oe@2-2-2013
21131061@unknown@formal@none@1@S@The administration of federal credit should closely parallel private lending practices, including the development of a loan loss reserve and regular outside audits.@@@@1@23@@oe@2-2-2013
21131062@unknown@formal@none@1@S@Establishing these practices would permit earlier identification of emerging financial crises, provide better information for loan sales and budgeting decisions, and reduce fraud.@@@@1@23@@oe@2-2-2013
21131063@unknown@formal@none@1@S@Government lending was not intended to be a way to obfuscate spending figures, hide fraudulent activity, or provide large subsidies.@@@@1@20@@oe@2-2-2013
21131064@unknown@formal@none@1@S@The reforms described above would provide a more limited, but clearer, safer and ultimately more useful role for government as a lender.@@@@1@22@@oe@2-2-2013
21131065@unknown@formal@none@1@S@Without such reforms, credit programs will continue to be a large-scale, high-risk proposition for taxpayers.@@@@1@15@@oe@2-2-2013
21131066@unknown@formal@none@1@S@Mr. Gale is an assistant professor of economics at UCLA.@@@@1@10@@oe@2-2-2013
21132001@unknown@formal@none@1@S@Malcolm S. Todt was named vice president and senior officer in charge of equipment leasing to municipalities, a new effort of this bond insurer.@@@@1@24@@oe@2-2-2013
21132002@unknown@formal@none@1@S@Mr. Todt had been vice president and treasurer of Insilco Corp.@@@@1@11@@oe@2-2-2013
21133001@unknown@formal@none@1@S@President Bush is considering casting a line-item veto as a test to determine whether the courts will rule that he has such authority.@@@@1@23@@oe@2-2-2013
21133002@unknown@formal@none@1@S@Mr. Bush has long campaigned for passage of a bill or a constitutional amendment that would explicitly give him a line-item veto, which would enable him to kill individual items in a big spending bill without having to kill the entire bill.@@@@1@42@@oe@2-2-2013
21133003@unknown@formal@none@1@S@He has argued that such presidential power is necessary to rein in congressional spending.@@@@1@14@@oe@2-2-2013
21133004@unknown@formal@none@1@S@But some analysts, particularly conservative legal scholars, have urged Mr. Bush not to wait for explicit authorization but simply to assert that the Constitution already implicitly gives him the power to exercise a line-item veto.@@@@1@35@@oe@2-2-2013
21133005@unknown@formal@none@1@S@Such an assertion most likely would bring about a court challenge from Congress that would clarify whether a president already has such power.@@@@1@23@@oe@2-2-2013
21133006@unknown@formal@none@1@S@White House spokesman Marlin Fitzwater, confirming comments made this week by Vice President Dan Quayle, said Mr. Bush is "interested" in finding a suitable test case.@@@@1@26@@oe@2-2-2013
21133007@unknown@formal@none@1@S@But he also said that exercising a test line-item veto isn't a "top initiative" on the president's agenda because he faces more-pressing budget issues at the moment.@@@@1@27@@oe@2-2-2013
21134001@unknown@formal@none@1@S@Harris Ravine, executive vice president of customer satisfaction, was named executive vice president, finance and administration of this maker of data storage equipment.@@@@1@23@@oe@2-2-2013
21134002@unknown@formal@none@1@S@Mr. Ravine succeeds William R. Mansfield Jr., who will remain with the company until the end of the year to support the transition and to complete important projects.@@@@1@28@@oe@2-2-2013
21135001@unknown@formal@none@1@S@The Bush administration said it is submitting a "comprehensive" proposal for overhauling agricultural trade that could help break an impasse in the current round of multilateral trade negotiations.@@@@1@28@@oe@2-2-2013
21135002@unknown@formal@none@1@S@The proposal reiterates the U.S. desire to scrap or reduce a host of trade-distorting subsidies on farm products.@@@@1@18@@oe@2-2-2013
21135003@unknown@formal@none@1@S@But it would allow considerable flexibility in determining how and when these goals would be achieved.@@@@1@16@@oe@2-2-2013
21135004@unknown@formal@none@1@S@The U.S. plan also would ease the transition to freer agriculture trade by allowing some countries to convert non-tariff barriers into tariffs that, together with existing tariffs, then would be phased out over 10 years.@@@@1@35@@oe@2-2-2013
21135005@unknown@formal@none@1@S@Trade Representative Carla Hills, who along with Agriculture Secretary Clayton Yeutter unveiled the proposal, said she is confident it will gain considerable support from the U.S.'s trading partners.@@@@1@28@@oe@2-2-2013
21135006@unknown@formal@none@1@S@Mr. Yeutter, seeking to allay European objections to an earlier U.S. plan that called for eliminating all farm-trade barriers by the year 2000, said the new U.S. proposal wouldn't "put farmers out of business" but would only encourage them to "grow what the markets desire instead of what the government wants."@@@@1@51@@oe@2-2-2013
21135007@unknown@formal@none@1@S@The U.S. is submitting the proposal today in Geneva, hoping that the initiative will spur members of the General Agreement on Tariffs and Trade to reach agreement on new trade rules before their current negotiating round concludes in December 1990.@@@@1@40@@oe@2-2-2013
21135008@unknown@formal@none@1@S@Another U.S. proposal filed Monday urges more "fair play" in services trade, including predictable and clear rules and equality in the treatment of foreign and domestic service companies.@@@@1@28@@oe@2-2-2013
21135009@unknown@formal@none@1@S@Unlike the earlier U.S. farm-trade proposal which struck European countries as too extreme, the latest plan would provide some room for maneuver.@@@@1@22@@oe@2-2-2013
21135010@unknown@formal@none@1@S@For instance, the new U.S. package makes clear there would be a transition period during which GATT members could use a combination of tariffs and quotas to cushion their farmers from foreign competition.@@@@1@33@@oe@2-2-2013
21135011@unknown@formal@none@1@S@It also says countries could temporarily raise tariffs on certain products if they experience an unusually heavy volume of imports.@@@@1@20@@oe@2-2-2013
21135012@unknown@formal@none@1@S@Instead of proposing a complete elimination of farm subsidies, as the earlier U.S. proposal did, the new package calls for the elimination of only the most tradedistorting ones.@@@@1@28@@oe@2-2-2013
21135013@unknown@formal@none@1@S@Less objectionable ones would be subject only to some restraints, and others with a "relatively minor trade impact" would be allowed to continue under certain conditions.@@@@1@26@@oe@2-2-2013
21135014@unknown@formal@none@1@S@The new U.S. plan also would establish procedures to prevent countries from using health and sanitation rules to impede trade arbitrarily.@@@@1@21@@oe@2-2-2013
21135015@unknown@formal@none@1@S@The goal would be to resolve disputes such as one prompted by the European Community's current attempt to bar imports of beef from hormone-treated U.S. cattle.@@@@1@26@@oe@2-2-2013
21135016@unknown@formal@none@1@S@The U.S. contends that the rules aren't justified on health grounds.@@@@1@11@@oe@2-2-2013
21135017@unknown@formal@none@1@S@To encourage more competition among exporting countries, the U.S. is proposing that export subsidies, including tax incentives for exporters, be phased out in five years.@@@@1@25@@oe@2-2-2013
21136001@unknown@formal@none@1@S@Procter & Gamble Co., helped by a gain from a lawsuit settlement and continued growth overseas, posted a 38% rise in fiscal first-quarter net income.@@@@1@25@@oe@2-2-2013
21136002@unknown@formal@none@1@S@Net for the quarter ended Sept. 30 climbed to $551 million, or $1.66 a share, from $400 million, or $1.18 a share, a year earlier.@@@@1@25@@oe@2-2-2013
21136003@unknown@formal@none@1@S@Per-share figures have been adjusted for a 2-for-1 stock split effective Oct. 20.@@@@1@13@@oe@2-2-2013
21136004@unknown@formal@none@1@S@Sales increased 6% to $5.58 billion from $5.27 billion.@@@@1@9@@oe@2-2-2013
21136005@unknown@formal@none@1@S@Earnings at the consumer-products giant were boosted by a gain of $125 million, or about 25 cents a share, stemming from last month's settlement of litigation with three of P&G's competitors over patents on P&G's Duncan Hines cookies.@@@@1@38@@oe@2-2-2013
21136006@unknown@formal@none@1@S@Excluding the gain, P&G's earnings were close to analysts' predictions of about $1.40 a share for the quarter.@@@@1@18@@oe@2-2-2013
21136007@unknown@formal@none@1@S@Wall Street had expected a modest rise in the company's domestic sales and earnings, and more substantial increases in overseas results.@@@@1@21@@oe@2-2-2013
21136008@unknown@formal@none@1@S@One factor helping sales and earnings was a 3% price rise for most P&G products, except coffee, analysts said.@@@@1@19@@oe@2-2-2013
21136009@unknown@formal@none@1@S@Unit volume, or amount of products shipped, rose about 11% in the international segment, with P&G continuing to win market share in Japan's diaper and detergent markets.@@@@1@27@@oe@2-2-2013
21136010@unknown@formal@none@1@S@Jay Freedman, analyst with Kidder, Peabody & Co., said P&G's Always sanitary napkin, sold under the Whisper name in Japan, has firmly established itself as a leading brand.@@@@1@28@@oe@2-2-2013
21136011@unknown@formal@none@1@S@He figures P&G will expand its personal-care product line in Japan to "continue that momentum."@@@@1@15@@oe@2-2-2013
21136012@unknown@formal@none@1@S@P&G's U.S. shipments were up just 1%, partly because the company decided to shift more promotions and sales for health and beauty products to the fiscal second quarter.@@@@1@28@@oe@2-2-2013
21136013@unknown@formal@none@1@S@Hugh Zurkuhlen, analyst with Salomon Bros., predicts the shift will mean P&G's sales growth in the second quarter will be "in the double digits."@@@@1@24@@oe@2-2-2013
21136014@unknown@formal@none@1@S@Also slowing growth in the U.S. were lackluster results for P&G's cooking oils, which had a strong year-earlier first quarter.@@@@1@20@@oe@2-2-2013
21136015@unknown@formal@none@1@S@Last year's drought in the Midwest prompted retailers to stock up on oils ahead of anticipated price increases, boosting sales for Crisco and Puritan oils, analysts said.@@@@1@27@@oe@2-2-2013
21136016@unknown@formal@none@1@S@For fiscal 1990, analysts expect P&G's sales to continue to grow, with earnings climbing between 15% and 20%.@@@@1@18@@oe@2-2-2013
21136017@unknown@formal@none@1@S@Lynne Hyman, vice president of equity research for First Boston Corp., expects P&G to post net of about $4.20 a share, on a post-split basis.@@@@1@25@@oe@2-2-2013
21136018@unknown@formal@none@1@S@"But I'm recognizing there's a good chance they'll do a bit better than that," she says.@@@@1@16@@oe@2-2-2013
21136019@unknown@formal@none@1@S@In fiscal 1989, P&G earned $3.56 a share, adjusted for the stock split.@@@@1@13@@oe@2-2-2013
21136020@unknown@formal@none@1@S@One big factor affecting the fiscal second half will be the new stewardship of Edwin L. Artzt, who becomes chairman and chief executive officer in January.@@@@1@26@@oe@2-2-2013
21136021@unknown@formal@none@1@S@Because of his remarkable success turning around P&G's international operations, analysts have high hopes for his tenure.@@@@1@17@@oe@2-2-2013
21136022@unknown@formal@none@1@S@"If he does to the domestic operations what he did internationally," says Mr. Zurkuhlen, "this company will earn $6 or $7 a share in a few years.@@@@1@27@@oe@2-2-2013
21137001@unknown@formal@none@1@S@The Voting Rights Act of 1965 was enacted to keep the promise of the Fifteenth Amendment and enable Southern blacks to go to the polls, unhindered by literacy tests and other exclusionary devices.@@@@1@33@@oe@2-2-2013
21137002@unknown@formal@none@1@S@Twenty-five years later, the Voting Rights Act has been transformed by the courts and the Justice Department into a program of racial gerrymandering designed to increase the number of blacks and other minorities -- Hispanics, Asians and native Americans -- holding elective office.@@@@1@43@@oe@2-2-2013
21137003@unknown@formal@none@1@S@In the 1980s, the Justice Department and lower federal courts that enforce the Voting Rights Act have required state legislatures and municipal governments to create the maximum number of "safe" minority election districts -- districts where minorities form between 65% and 80% of the voting population.@@@@1@46@@oe@2-2-2013
21137004@unknown@formal@none@1@S@The program has even been called upon to create "safe" white electoral districts in municipalities where whites are the minority.@@@@1@20@@oe@2-2-2013
21137005@unknown@formal@none@1@S@Although Section 2 of the act expressly disclaims requiring that minorities win a proportional share of elective offices, few municipal and state government plans achieve preclearance by the Justice Department or survive the scrutiny of the lower federal courts unless they carve out as many solidly minority districts as possible.@@@@1@50@@oe@2-2-2013
21137006@unknown@formal@none@1@S@The new goal of the Voting Rights Act -- more minorities in political office -- is laudable.@@@@1@17@@oe@2-2-2013
21137007@unknown@formal@none@1@S@For the political process to work, all citizens, regardless of race, must feel represented.@@@@1@14@@oe@2-2-2013
21137008@unknown@formal@none@1@S@One essential indicator that they are is that members of minority groups get elected to public office with reasonable frequency.@@@@1@20@@oe@2-2-2013
21137009@unknown@formal@none@1@S@As is, blacks constitute 12% of the population, but fewer than 2% of elected leaders.@@@@1@15@@oe@2-2-2013
21137010@unknown@formal@none@1@S@But racial gerrymandering is not the best way to accomplish that essential goal.@@@@1@13@@oe@2-2-2013
21137011@unknown@formal@none@1@S@It is a quick fix for a complex problem.@@@@1@9@@oe@2-2-2013
21137012@unknown@formal@none@1@S@Far from promoting a commonality of interests among black, white, Hispanic and other minority voters, drawing the district lines according to race suggests that race is the voter's and the candidate's most important trait.@@@@1@34@@oe@2-2-2013
21137013@unknown@formal@none@1@S@Such a policy implies that only a black politician can speak for a black person, and that only a white politician can govern on behalf of a white one.@@@@1@29@@oe@2-2-2013
21137014@unknown@formal@none@1@S@Examples of the divisive effects of racial gerrymandering can be seen in two cities -- New York and Birmingham, Ala.@@@@1@20@@oe@2-2-2013
21137015@unknown@formal@none@1@S@When they reapportion their districts after the 1990 census, every other municipality and state in the country will face this issue.@@@@1@21@@oe@2-2-2013
21137016@unknown@formal@none@1@S@New York City:@@@@1@3@@oe@2-2-2013
21137017@unknown@formal@none@1@S@Racial gerrymandering has been a familiar policy in New York City since 1970, when Congress first amended the Voting Rights Act to expand its reach beyond the Southern states.@@@@1@29@@oe@2-2-2013
21137018@unknown@formal@none@1@S@In 1972, the Justice Department required that the electoral map in the borough of Brooklyn be redrawn to concentrate black and Hispanic votes, despite protests that the new electoral boundaries would split a neighborhood of Hasidic Jews into two different districts.@@@@1@41@@oe@2-2-2013
21137019@unknown@formal@none@1@S@This year, a commission appointed by the mayor to revise New York's system of government completed a new charter, expanding the City Council to 51 from 35 members.@@@@1@28@@oe@2-2-2013
21137020@unknown@formal@none@1@S@Sometime in 1991, as soon as the 1990 census becomes available, a redistricting panel will redraw the City Council district lines.@@@@1@21@@oe@2-2-2013
21137021@unknown@formal@none@1@S@The Charter Revision Commission has made it clear that in response to the expectations of the Justice Department and the commission's own commitment to enhancing minority political leadership, the new district lines will be drawn to maximize the number of solidly minority districts.@@@@1@43@@oe@2-2-2013
21137022@unknown@formal@none@1@S@Blacks and Hispanics currently make up 38% of the city's population and hold only 25% of the seats on the council.@@@@1@21@@oe@2-2-2013
21137023@unknown@formal@none@1@S@Several of the city's black leaders, including Democratic mayoral nominee David Dinkins, have spoken out for racial gerrymandering to accord blacks and Hispanics "the fullest opportunity for representation."@@@@1@28@@oe@2-2-2013
21137024@unknown@formal@none@1@S@In this connection, it is important to note that several members of New York's sitting City Council represent heterogeneous districts that bring together sizable black, Hispanic, and non-Hispanic white populations -- Carolyn Maloney's 8th district in northern Manhattan and the south Bronx and Susan Alter's 25th district in Brooklyn, for example.@@@@1@51@@oe@2-2-2013
21137025@unknown@formal@none@1@S@To win their seats on the council, these political leaders have had to listen to all the voices in their district and devise public policies that would benefit all.@@@@1@29@@oe@2-2-2013
21137026@unknown@formal@none@1@S@Often they have found that the relevant issue is not race, but rather housing, crime prevention or education.@@@@1@18@@oe@2-2-2013
21137027@unknown@formal@none@1@S@Birmingham, Ala.:@@@@1@2@@oe@2-2-2013
21137028@unknown@formal@none@1@S@The unusual situation in Birmingham vividly illustrates the divisive consequences of carving out safe districts for racial minorities.@@@@1@18@@oe@2-2-2013
21137029@unknown@formal@none@1@S@In Birmingham, which is 57% black, whites are the minority.@@@@1@10@@oe@2-2-2013
21137030@unknown@formal@none@1@S@Insisting that they are protected by the Voting Rights Act, a group of whites brought a federal suit in 1987 to demand that the city abandon at-large voting for the nine member City Council and create nine electoral districts, including four safe white districts.@@@@1@44@@oe@2-2-2013
21137031@unknown@formal@none@1@S@The white group argued that whites were not fully and fairly represented, because in city-wide elections only black candidates or white candidates who catered to "black interests" could win.@@@@1@29@@oe@2-2-2013
21137032@unknown@formal@none@1@S@No federal court has ruled that the Voting Rights Act protects a white minority, but in June the Justice Department approved a districting plan for Birmingham that carves out three white-majority districts and six black-majority districts.@@@@1@36@@oe@2-2-2013
21137033@unknown@formal@none@1@S@Richard Arrington, Birmingham's black mayor, lamented the consequences.@@@@1@8@@oe@2-2-2013
21137034@unknown@formal@none@1@S@"In the past, people who had to run for office had to moderate their views because they couldn't afford to offend blacks or whites," he said.@@@@1@26@@oe@2-2-2013
21137035@unknown@formal@none@1@S@"Now you go to districts, you're likely to get candidates whose views are more extreme, white and black, on racial issues."@@@@1@21@@oe@2-2-2013
21137036@unknown@formal@none@1@S@Two hundred years ago, critics of the new United States Constitution warned that the electoral districts for Congress were too large and encompassed too many different economic interests.@@@@1@28@@oe@2-2-2013
21137037@unknown@formal@none@1@S@A small farmer and a seaport merchant could not be represented by the same spokesman, they said.@@@@1@17@@oe@2-2-2013
21137038@unknown@formal@none@1@S@But James Madison refuted that argument in one of the most celebrated political treatises ever written, No. 10 of the Federalist Papers.@@@@1@22@@oe@2-2-2013
21137039@unknown@formal@none@1@S@Madison explained that a representative's duty was to speak not for the narrow interests of one group but instead for the common good.@@@@1@23@@oe@2-2-2013
21137040@unknown@formal@none@1@S@Large, heterogeneous election districts would encourage good government, said Madison, because a representative would be compelled to serve the interests of all his constituents and be servile to none.@@@@1@29@@oe@2-2-2013
21137041@unknown@formal@none@1@S@Madison's noble and unifying vision of the representative still can guide us.@@@@1@12@@oe@2-2-2013
21137042@unknown@formal@none@1@S@As long as we believe that all Americans, of every race and ethnic background, have common interests and can live together cooperatively, our political map should reflect our belief.@@@@1@29@@oe@2-2-2013
21137043@unknown@formal@none@1@S@Racial gerrymandering -- creating separate black and white districts -- says that we have discarded that belief in our ability to live together and govern ourselves as one people.@@@@1@29@@oe@2-2-2013
21137044@unknown@formal@none@1@S@Ms. McCaughey is a constitutional scholar at the Center for the Study of the Presidency in New York.@@@@1@18@@oe@2-2-2013
21138001@unknown@formal@none@1@S@The Justice Department has distributed these new guidelines for U.S. Attorneys prosecuting RICO cases.@@@@1@14@@oe@2-2-2013
21138002@unknown@formal@none@1@S@A related editorial appears today.@@@@1@5@@oe@2-2-2013
21138003@unknown@formal@none@1@S@Under {RICO}, the government may seek a temporary restraining order (TRO) upon the filing of a RICO indictment, in order to preserve all forfeitable assets until the trial is completed and judgment entered.@@@@1@33@@oe@2-2-2013
21138004@unknown@formal@none@1@S@Such orders can have a wide-ranging impact on third parties who do business with the defendants, including clients, vendors, banks, investors, creditors, dependents, and others.@@@@1@25@@oe@2-2-2013
21138005@unknown@formal@none@1@S@Some highly publicized cases involving RICO TROs have been the subject of considerable criticism in the press, because of a perception that pre-trial freezing of assets is tantamount to a seizure of property without due process.@@@@1@36@@oe@2-2-2013
21138006@unknown@formal@none@1@S@In order to ensure that the rights of all interested parties are protected, the Criminal Division has instituted the following requirements to control the use of TROs in RICO prosecutions.@@@@1@30@@oe@2-2-2013
21138007@unknown@formal@none@1@S@(It should be noted that these requirements are in addition to any other existing requirements, such as review by the Asset Forfeiture Office.):@@@@1@23@@oe@2-2-2013
21138008@unknown@formal@none@1@S@1. As part of the approval process for RICO prosecutions, the prosecutor must submit any proposed forfeiture TRO for review by the Organized Crime and Racketeering Section.@@@@1@27@@oe@2-2-2013
21138009@unknown@formal@none@1@S@The prosecutor must show that less-intrusive remedies (such as bonds) are not likely to preserve the assets for forfeiture in the event of a conviction.@@@@1@25@@oe@2-2-2013
21138010@unknown@formal@none@1@S@2. In seeking approval of a TRO, the prosecutor must articulate any anticipated impact that forfeiture and the TRO would have on innocent third parties, balanced against the government's need to preserve the assets.@@@@1@34@@oe@2-2-2013
21138011@unknown@formal@none@1@S@3. In deciding whether forfeiture (and, hence, a TRO) is appropriate, the Section will consider the nature and severity of the offense; the government's policy is not to seek the fullest forfeiture permissible under the law where that forfeiture would be disproportionate to the defendant's crime.@@@@1@46@@oe@2-2-2013
21138012@unknown@formal@none@1@S@4. When a RICO TRO is being sought, the prosecutor is required, at the earliest appropriate time, to state publicly that the government's request for a TRO, and eventual forfeiture, is made in full recognition of the rights of third parties -- that is, in requesting the TRO, the government will not seek to disrupt the normal, legitimate business activities of the defendant; will not seek through use of the relation-back doctrine to take from third parties assets legitimately transferred to them; will not seek to vitiate legitimate business transactions occurring between the defendant and third parties; and will, in all other respects, assist the court in ensuring that the rights of third parties are protected, through proceeding under {RICO} and otherwise.@@@@1@122@@oe@2-2-2013
21138013@unknown@formal@none@1@S@The Division expects that the prosecutor will announce these principles either at the time the indictment is returned or, at the latest, at the first proceeding before the court concerning the TRO.@@@@1@32@@oe@2-2-2013
21139001@unknown@formal@none@1@S@Sales of North American-built cars and trucks plunged 20.5% in mid-October from a year earlier, as domestic manufacturers paid the price for heavy incentives earlier this year.@@@@1@27@@oe@2-2-2013
21139002@unknown@formal@none@1@S@"People are waiting for {new} factory giveaways," said Ben Kaye, sales manager of Bob Brest Auto World in Lynn, Mass., whose sales are slow.@@@@1@24@@oe@2-2-2013
21139003@unknown@formal@none@1@S@This trend appears to be especially true at General Motors Corp., which used both dealer and consumer incentives to ignite sales in August and September.@@@@1@25@@oe@2-2-2013
21139004@unknown@formal@none@1@S@Since then, deliveries have slumped.@@@@1@5@@oe@2-2-2013
21139005@unknown@formal@none@1@S@GM's car sales dropped 24.8% in mid-October to 69,980, while truck sales fell 26% to 37,860.@@@@1@16@@oe@2-2-2013
21139006@unknown@formal@none@1@S@GM also had dismal results in the first 10 days of the month, while other auto makers reported mixed results.@@@@1@20@@oe@2-2-2013
21139007@unknown@formal@none@1@S@All of the Big Three suffered in the just-ended period, however, with sales of all domestically made cars, including those built at Japanese-managed plants, falling 19% to 158,863 from a year earlier.@@@@1@32@@oe@2-2-2013
21139008@unknown@formal@none@1@S@The seasonal adjusted annual selling rate was six million vehicles, a small improvement from the 5.8 million rate of early October, but a big drop from the 7.1 million rate a year ago.@@@@1@33@@oe@2-2-2013
21139009@unknown@formal@none@1@S@Sales of domestically made trucks also continued to be sluggish in mid-October, dropping 22.8% to 94,543 from a year ago.@@@@1@20@@oe@2-2-2013
21139010@unknown@formal@none@1@S@The Big Three auto makers already have slashed fourth-quarter production plans 10.4% below year-ago levels, but that may not be enough to prevent inventories from ballooning if sales don't improve.@@@@1@30@@oe@2-2-2013
21139011@unknown@formal@none@1@S@Industry analyst John H. Qualls, a vice president with Hill & Knowlton in St. Louis, forecasts that domestic auto makers will have a 93-day supply of cars at the end of the year, even if car sales improve to a 6.5 million vehicle rate for the quarter.@@@@1@47@@oe@2-2-2013
21139012@unknown@formal@none@1@S@Ford Motor Co. reported a 21.2% drop in sales of domestic-made cars to 46,995 and a 24.2% drop in domestic trucks to 31,143.@@@@1@23@@oe@2-2-2013
21139013@unknown@formal@none@1@S@The sales are being dragged down by a glut of 1989 vehicles, said Joel Pitcoff, a Ford analyst.@@@@1@18@@oe@2-2-2013
21139014@unknown@formal@none@1@S@The earlier use of incentives depleted the market of "scavengers" for bargain-basement 1989 cars, he said.@@@@1@16@@oe@2-2-2013
21139015@unknown@formal@none@1@S@Town & Country Ford in Charlotte, N.C., still needs to move about 850 1989 cars and trucks.@@@@1@17@@oe@2-2-2013
21139016@unknown@formal@none@1@S@Business had been fairly strong until Hurricane Hugo hit the area, but has been down since.@@@@1@16@@oe@2-2-2013
21139017@unknown@formal@none@1@S@Chrysler Corp. also hit the rocks in mid-October.@@@@1@8@@oe@2-2-2013
21139018@unknown@formal@none@1@S@The No. 3 U.S. auto maker had a 23.7% plunge in car sales to 22,336 and a 17.5% drop in truck sales to 22,925, which include its minivans and Jeeps.@@@@1@30@@oe@2-2-2013
21139019@unknown@formal@none@1@S@Honda Motor Co., which continues to have short supplies of domestically made Accords, saw its sales of North American-built cars fall 14.1% to 8,355.@@@@1@24@@oe@2-2-2013
21139020@unknown@formal@none@1@S@But sales of domestic cars and trucks at Nissan Motor Corp. rose 26.1% to 5,651.@@@@1@15@@oe@2-2-2013
21139021@unknown@formal@none@1@S@A Nissan spokesman attributed the increase to the use of incentives this year and not a year ago and to higher fleet sales.@@@@1@23@@oe@2-2-2013
21139022@unknown@formal@none@1@S@Toyota Motor Corp., which opened a plant in Georgetown, Ky., last year, saw sales triple to 6,256 vehicles.@@@@1@18@@oe@2-2-2013
21139023@unknown@formal@none@1@S@a-Totals include only vehicle sales reported in the period.@@@@1@9@@oe@2-2-2013
21139024@unknown@formal@none@1@S@c-Domestic car@@@@1@2@@oe@2-2-2013
21139025@unknown@formal@none@1@S@d-Percent change greater than 999%.@@@@1@5@@oe@2-2-2013
21139026@unknown@formal@none@1@S@x-There were 9 selling days in the most recent period and 9 a year earlier.@@@@1@15@@oe@2-2-2013
21139027@unknown@formal@none@1@S@Percentage differences based on daily sales rate rather than sales volume.@@@@1@11@@oe@2-2-2013
21140001@unknown@formal@none@1@S@Short interest in Nasdaq over-the-counter stocks rose 6% as of mid-October, its biggest jump since 6.3% last April.@@@@1@18@@oe@2-2-2013
21140002@unknown@formal@none@1@S@The most recent OTC short interest statistics were compiled Oct. 13, the day the Nasdaq composite index slid 3% and the New York Stock Exchange tumbled 7%.@@@@1@27@@oe@2-2-2013
21140003@unknown@formal@none@1@S@The coincidence might lead to the conclusion that short-sellers bet heavily on that day that OTC stocks would decline further.@@@@1@20@@oe@2-2-2013
21140004@unknown@formal@none@1@S@As it happens, the Nasdaq composite did continue to fall for two days after the initial plunge.@@@@1@17@@oe@2-2-2013
21140005@unknown@formal@none@1@S@However, the short interest figures reported by brokerage and securities clearing firms to the National Association of Securities Dealers include only those trades completed, or settled, by Oct. 13, rather than trades that occurred on that day, according to Gene Finn, chief economist for the NASD.@@@@1@46@@oe@2-2-2013
21140006@unknown@formal@none@1@S@Generally, it takes five business days to transfer stock and to take the other steps necessary to settle a trade.@@@@1@20@@oe@2-2-2013
21140007@unknown@formal@none@1@S@The total short interest in Nasdaq stocks as of mid-October was 237.1 million shares, up from 223.7 million in September but well below the record level of 279 million shares established in July 1987.@@@@1@34@@oe@2-2-2013
21140008@unknown@formal@none@1@S@The sharp rise in OTC short interest compares with the 4.2% decline in short interest on the New York Stock Exchange and the 3% rise on the American Stock Exchange during the September-October period.@@@@1@34@@oe@2-2-2013
21140009@unknown@formal@none@1@S@Generally, a short seller expects a fall in a stock's price and aims to profit by selling borrowed shares that are to be replaced later; the short seller hopes the replacement shares bought later will cost less than those that were sold.@@@@1@42@@oe@2-2-2013
21140010@unknown@formal@none@1@S@Short interest, which represents the number of shares borrowed and sold, but not yet replaced, can be a bad-expectations barometer for many stocks.@@@@1@23@@oe@2-2-2013
21140011@unknown@formal@none@1@S@Among 2,412 of the largest OTC issues, short interest rose to 196.8 million shares, from 185.7 million in 2,379 stocks in September.@@@@1@22@@oe@2-2-2013
21140012@unknown@formal@none@1@S@Big stocks with large short interest gains as of Oct. 13 included First Executive, Intel, Campeau and LIN Broadcasting.@@@@1@19@@oe@2-2-2013
21140013@unknown@formal@none@1@S@Short interest in First Executive, an insurance issue, rose 55% to 3.8 million.@@@@1@13@@oe@2-2-2013
21140014@unknown@formal@none@1@S@Intel's short interest jumped 42%, while Campeau's increased 62%.@@@@1@9@@oe@2-2-2013
21140015@unknown@formal@none@1@S@Intel makes semiconductors and Campeau operates department-store chains and is strained for cash.@@@@1@13@@oe@2-2-2013
21140016@unknown@formal@none@1@S@Meritor Savings again had the dubious honor of being the OTC stock with the biggest short interest position on Nasdaq.@@@@1@20@@oe@2-2-2013
21140017@unknown@formal@none@1@S@Meritor has headed the list since May.@@@@1@7@@oe@2-2-2013
21140018@unknown@formal@none@1@S@First Executive and troubled Valley National Corp. of Arizona were next in line.@@@@1@13@@oe@2-2-2013
21140019@unknown@formal@none@1@S@Short selling isn't necessarily bad for the overall market.@@@@1@9@@oe@2-2-2013
21140020@unknown@formal@none@1@S@Shorted shares must eventually be replaced through buying.@@@@1@8@@oe@2-2-2013
21140021@unknown@formal@none@1@S@In addition, changes in short interest in some stocks may be caused by arbitrage.@@@@1@14@@oe@2-2-2013
21140022@unknown@formal@none@1@S@For example, an investor may seek to profit during some takeover situations by buying stock in one company involved and shorting the stock of the other.@@@@1@26@@oe@2-2-2013
21140023@unknown@formal@none@1@S@Two big stocks involved in takeover activity saw their short interest surge.@@@@1@12@@oe@2-2-2013
21140024@unknown@formal@none@1@S@Short interest in the American depositary receipts of Jaguar, the target of both Ford Motor and General Motors, more than doubled.@@@@1@21@@oe@2-2-2013
21140025@unknown@formal@none@1@S@Nasdaq stocks that showed a drop in short interest included Adobe Systems, Class A shares of Tele-Communications and takeover targets Lyphomed and Jerrico.@@@@1@23@@oe@2-2-2013
21140026@unknown@formal@none@1@S@The NASD, which operates the Nasdaq computer system on which 5,200 OTC issues trade, compiles short interest data in two categories: the approximately two-thirds, and generally biggest, Nasdaq stocks that trade on the National Market System; and the one-third, and generally smaller, Nasdaq stocks that aren't a part of the system.@@@@1@51@@oe@2-2-2013
21140027@unknown@formal@none@1@S@Short interest in 1,327 non-NMS securities totaled 40.3 million shares, compared with almost 38 million shares in 1,310 issues in September.@@@@1@21@@oe@2-2-2013
21140028@unknown@formal@none@1@S@The October short interest represents 1.04 days of average daily trading volume in the smaller stocks in the system for the reporting period, compared with 0.94 day a month ago.@@@@1@30@@oe@2-2-2013
21140029@unknown@formal@none@1@S@Among bigger OTC stocks, the figures represent 2.05 days of average daily volume, compared with 2.14 days in September.@@@@1@19@@oe@2-2-2013
21140030@unknown@formal@none@1@S@The adjacent tables show the issues in which a short interest position of at least 50,000 shares existed as of Oct. 13 or in which there was a short position change of at least 25,000 shares since Sept. 15 (see accompanying tables -- WSJ Oct. 25, 1989).@@@@1@47@@oe@2-2-2013
21141001@unknown@formal@none@1@S@From the Sept. 30-Oct. 4 issue of The Economist:@@@@1@9@@oe@2-2-2013
21141002@unknown@formal@none@1@S@What defeated General Aoun was not only the weight of the Syrian army.@@@@1@13@@oe@2-2-2013
21141003@unknown@formal@none@1@S@The weight of Lebanon's history was also against him; and it is a history Israel is in danger of repeating.@@@@1@20@@oe@2-2-2013
21141004@unknown@formal@none@1@S@Like Lebanon, and however unfairly, Israel is regarded by the Arab world as a colonial aberration.@@@@1@16@@oe@2-2-2013
21141005@unknown@formal@none@1@S@Its best hope of acceptance by its neighbours lies in reaching a settlement with the Palestinians.@@@@1@16@@oe@2-2-2013
21141006@unknown@formal@none@1@S@Like Lebanon, Israel is being remade by demography.@@@@1@8@@oe@2-2-2013
21141007@unknown@formal@none@1@S@In Greater Israel more than half the children under six are Muslims.@@@@1@12@@oe@2-2-2013
21141008@unknown@formal@none@1@S@Within 25 years Jews will probably be the minority.@@@@1@9@@oe@2-2-2013
21141009@unknown@formal@none@1@S@Yet Israel will neither share power with all these Arabs nor, says its present prime minister, redraw its borders closer to its pre-1967 Jewish heartland.@@@@1@25@@oe@2-2-2013
21141010@unknown@formal@none@1@S@By not choosing one of these options, Israelis will condemn themselves, as the Maronites did, to perpetual war with the Muslims in their midst, and so to the internal erosion of their state.@@@@1@33@@oe@2-2-2013
21141011@unknown@formal@none@1@S@Unlike the Maronites, Israel's Jews will not let themselves become the weakest force in a system of private armies; Jerusalem will become Belfast before it becomes Beirut.@@@@1@27@@oe@2-2-2013
21141012@unknown@formal@none@1@S@But that is not much of a consolation to draw from the failure of General Aoun.@@@@1@16@@oe@2-2-2013
21142001@unknown@formal@none@1@S@The Nasdaq over-the-counter market didn't fully recover from a selling stampede, and closed down 1.2%.@@@@1@15@@oe@2-2-2013
21142002@unknown@formal@none@1@S@The effects on the market of the mostly computer-driven sell-off among exchange-listed stocks irked many market makers, who watched the Nasdaq Composite Index tumble in sympathy with the Dow Jones Industrial Average, and then saw it get left behind in the subsequent rally.@@@@1@43@@oe@2-2-2013
21142003@unknown@formal@none@1@S@After plummeting 1.8% at one point during the day, the composite rebounded a little, but finished down 5.52, at 461.70.@@@@1@20@@oe@2-2-2013
21142004@unknown@formal@none@1@S@In contrast, the industrial average recovered almost completely from its skid and closed down 0.1%.@@@@1@15@@oe@2-2-2013
21142005@unknown@formal@none@1@S@The New York Stock Exchange Composite was 0.4% lower for the day.@@@@1@12@@oe@2-2-2013
21142006@unknown@formal@none@1@S@As usual, the over-the-counter market's biggest technology stocks were hardest hit.@@@@1@11@@oe@2-2-2013
21142007@unknown@formal@none@1@S@Microsoft, battered by profit taking in recent sessions, sank as much as 4; but it finished at 80 7/8, down 2 1/4 on volume of one million shares.@@@@1@28@@oe@2-2-2013
21142008@unknown@formal@none@1@S@MCI Communications, the most active issue, finished down 5/8 to 42 1/8.@@@@1@12@@oe@2-2-2013
21142009@unknown@formal@none@1@S@MCI traded as low as 41 3/8 during the session.@@@@1@10@@oe@2-2-2013
21142010@unknown@formal@none@1@S@Other active stocks included Jaguar, whose American depositary receipts added 1/8 to 11 1/4.@@@@1@14@@oe@2-2-2013
21142011@unknown@formal@none@1@S@Apple Computer improved 7/8 to 47 5/8; Intel slipped 1/4 to 33 1/4, and Valley National Corp. was up 1/8 to 15 1/8.@@@@1@23@@oe@2-2-2013
21142012@unknown@formal@none@1@S@"The market started with several strikes against it," said Peter DaPuzzo, head of retail equity trading at Shearson Lehman Hutton, referring to news that the labor-management buy-out of UAL Corp. continued to unravel, and reports that the junk-bond market is disintegrating.@@@@1@41@@oe@2-2-2013
21142013@unknown@formal@none@1@S@But the computer-guided selling in response to those developments dealt a serious blow to the over-the-counter market, Mr. DaPuzzo said.@@@@1@20@@oe@2-2-2013
21142014@unknown@formal@none@1@S@Even though the over-the-counter market usually doesn't fall by as much as listed stocks during program-selling blitzes, he said, "when the market does recover, the damage is done and it leaves Nasdaq down more than the Big Board."@@@@1@38@@oe@2-2-2013
21142015@unknown@formal@none@1@S@Mr. DaPuzzo also complained that the sharp swings in stock prices lately is scaring away retail and foreign investors.@@@@1@19@@oe@2-2-2013
21142016@unknown@formal@none@1@S@While Shearson doesn't do computer-guided program trading for its own account, the firm does execute orders for clients involved in the buying and selling of shares tied to movements in certain stock indexes, Mr. DaPuzzo acknowledged.@@@@1@36@@oe@2-2-2013
21142017@unknown@formal@none@1@S@The volatility inherent in program trading troubled other traders, too.@@@@1@10@@oe@2-2-2013
21142018@unknown@formal@none@1@S@They don't like the risks they are forced to assume when prices swing so drastically.@@@@1@15@@oe@2-2-2013
21142019@unknown@formal@none@1@S@Market makers are supposed to keep supplies of stocks on hand to maintain orderly trading when imbalances occur.@@@@1@18@@oe@2-2-2013
21142020@unknown@formal@none@1@S@That means that on days when prices are tumbling and sellers abound they must be willing to buy shares from sellers when no one else will.@@@@1@26@@oe@2-2-2013
21142021@unknown@formal@none@1@S@In such an environment, a market maker can absorb huge losses.@@@@1@11@@oe@2-2-2013
21142022@unknown@formal@none@1@S@But the recent volatility in stock prices caused by the program trading has made some market makers less willing to soak up the stocks that are for sale.@@@@1@28@@oe@2-2-2013
21142023@unknown@formal@none@1@S@The market makers say they aren't comfortable carrying big positions in stocks because they realize prices can tumble quickly.@@@@1@19@@oe@2-2-2013
21142024@unknown@formal@none@1@S@The situation makes it harder to buy and sell shares quickly, exacerbating the rise and fall in stock prices during program-dominated trading.@@@@1@22@@oe@2-2-2013
21142025@unknown@formal@none@1@S@Groused Robert Antolini, head of over-the-counter trading at Donaldson, Lufkin & Jenrette: "It's making it tough for traders to make money."@@@@1@21@@oe@2-2-2013
21142026@unknown@formal@none@1@S@He said that when sell programs kick in, many traders believe that "there's no sense in sticking your nose out because you're an instant loser."@@@@1@25@@oe@2-2-2013
21142027@unknown@formal@none@1@S@Kinder-Care Learning Centers added 1/4 to 4 7/8 on 461,200 shares.@@@@1@11@@oe@2-2-2013
21142028@unknown@formal@none@1@S@Lodestar Group said it will make a $6-a-share offer for the remaining Kinder-Care Learning Center common stock if it acquires a majority of the company's shares in a pending rights offering by Kinder-Care Learning Center's parent, Kinder-Care Inc.@@@@1@38@@oe@2-2-2013
21142029@unknown@formal@none@1@S@Shares of KinderCare Inc. closed at 3 1/2, also up 1/4, on volume of 700,000.@@@@1@15@@oe@2-2-2013
21142030@unknown@formal@none@1@S@Ohio Casualty dropped 2 1/8 to 49 1/2.@@@@1@8@@oe@2-2-2013
21142031@unknown@formal@none@1@S@The company posted third-quarter earnings of 95 cents a share, down from $1.26 a year earlier.@@@@1@16@@oe@2-2-2013
21142032@unknown@formal@none@1@S@The company estimated that losses from Hurricane Hugo reduced net income by 32 cents a share in the most recent quarter.@@@@1@21@@oe@2-2-2013
21142033@unknown@formal@none@1@S@The company said losses from the Oct. 17 earthquake in California haven't yet been determined, but that it provides earthquake coverage to about 1,400 properties in the stricken area.@@@@1@29@@oe@2-2-2013
21142034@unknown@formal@none@1@S@Any quake-related losses will be reported in the fourth quarter, the company said.@@@@1@13@@oe@2-2-2013
21142035@unknown@formal@none@1@S@North Atlantic Industries jumped 1 to 5 3/4.@@@@1@8@@oe@2-2-2013
21142036@unknown@formal@none@1@S@The electronics-instruments maker is to be acquired by Asset Management Associates for $7.25 a share.@@@@1@15@@oe@2-2-2013
21142037@unknown@formal@none@1@S@LIN Broadcasting slid 1 3/8 to 108 3/4, despite reporting third-quarter net of 46 cents a share, up from 39 cents the previous year.@@@@1@24@@oe@2-2-2013
21142038@unknown@formal@none@1@S@The company said the latest quarter included about $3.4 million in special legal and financial advisory costs related to McCaw Cellular Communications' bid for the company and LIN's merger pact with BellSouth.@@@@1@32@@oe@2-2-2013
21142039@unknown@formal@none@1@S@McCaw was unchanged at 40.@@@@1@5@@oe@2-2-2013
21142040@unknown@formal@none@1@S@XL/Datacomp slid 2 1/4 to 16 1/2 amid continuing concerns about the company's contract negotiations with International Business Machines.@@@@1@19@@oe@2-2-2013
21142041@unknown@formal@none@1@S@IBM is reviewing its entire business-partners program, and XL/Datacomp confirmed earlier this month that it was in talks with the company about possible modifications to its current IBM-remarketer contract.@@@@1@29@@oe@2-2-2013
21142042@unknown@formal@none@1@S@Remarketers make modifications to IBM's computer hardware and resell the products.@@@@1@11@@oe@2-2-2013
21142043@unknown@formal@none@1@S@Omni Capital Group surged 1 3/4 to 16 1/4.@@@@1@9@@oe@2-2-2013
21142044@unknown@formal@none@1@S@The company said net rose to 38 cents a share in its fiscal-first quarter ended Sept. 30, from 35 cents a shares a year ago.@@@@1@25@@oe@2-2-2013
21143001@unknown@formal@none@1@S@Probably the most clear-cut Soviet violation, for example, is the Krasnoyarsk radar.@@@@1@12@@oe@2-2-2013
21143002@unknown@formal@none@1@S@-- "Arms Control Reality," Nov. 20, 1984, the first of some 20 Journal editorials saying that Krasnoyarsk violated the ABM treaty.@@@@1@21@@oe@2-2-2013
21143003@unknown@formal@none@1@S@-- "Whether the installation is for early warning or space track, it clearly is not deployed," the lawmakers said.@@@@1@19@@oe@2-2-2013
21143004@unknown@formal@none@1@S@"Thus we judge it to be not a violation of the ABM treaty at this time."@@@@1@16@@oe@2-2-2013
21143005@unknown@formal@none@1@S@The delegation included a reporter from the New York Times, aides to Sen. Edward M. Kennedy and Rep. Les AuCoin, and Natural Resources Defense Council staff members.@@@@1@27@@oe@2-2-2013
21143006@unknown@formal@none@1@S@-- The Washington Post, Sept. 9, 1987.@@@@1@7@@oe@2-2-2013
21143007@unknown@formal@none@1@S@-- The U.S.S.R. has taken unprecedented unilateral measures of openness, by giving American representatives a possibility to inspect the building site of the Krasnoyarsk radar as well as radar vans in the areas of Gomel and Moscow, so as to see for themselves that there are no violations of the ABM treaty of 1972 on the part of the Soviet Union.@@@@1@61@@oe@2-2-2013
21143008@unknown@formal@none@1@S@-- Letter from Eduard Shevardnadze to U.N. Secretary-General Perez de Cuellar, reported in Tass, June 10, 1988.@@@@1@17@@oe@2-2-2013
21143009@unknown@formal@none@1@S@-- The construction of this station equal in size to the Egyptian pyramids constituted, I say it directly, a clear violation of ABM.@@@@1@23@@oe@2-2-2013
21143010@unknown@formal@none@1@S@-- Eduard Shevardnadze, Oct. 23, 1989.@@@@1@6@@oe@2-2-2013
21143011@unknown@formal@none@1@S@We're happy, we guess, to receive confirmation of the Krasnoyarsk violation from the Soviets, five years after we started writing about it.@@@@1@22@@oe@2-2-2013
21143012@unknown@formal@none@1@S@Perhaps even the American apologists will now accede.@@@@1@8@@oe@2-2-2013
21143013@unknown@formal@none@1@S@Without question, something intriguing is going on in the policy chambers of the Politburo.@@@@1@14@@oe@2-2-2013
21143014@unknown@formal@none@1@S@As it bids for new agreements, new loans and indeed admission to the civilized world, the Soviet government has recognized it has a credibility problem.@@@@1@25@@oe@2-2-2013
21143015@unknown@formal@none@1@S@So after 70 years, it is confessing the obvious, hoping to be believed about other things.@@@@1@16@@oe@2-2-2013
21143016@unknown@formal@none@1@S@It's not enough.@@@@1@3@@oe@2-2-2013
21143017@unknown@formal@none@1@S@If the Soviets want to be believed, they need to start telling the truth about more than the totally obvious.@@@@1@20@@oe@2-2-2013
21143018@unknown@formal@none@1@S@Our own test of "glasnost's" authenticity would be a Soviet decision to open itself to a complete international examination of one of the most troubling mysteries in U.S.-Soviet relations -- the reported 1979 anthrax outbreak at a Soviet military facility in Sverdlovsk.@@@@1@42@@oe@2-2-2013
21143019@unknown@formal@none@1@S@The U.S. government has never waivered in its assessment of this incident as an accident at a biological weapons facility there, and hence a violation of the 1972 Biological Weapons Convention.@@@@1@31@@oe@2-2-2013
21143020@unknown@formal@none@1@S@The Pentagon's recently issued "Soviet Military Power," though in general adopting a softer line, repeated the Sverdlovsk assessment.@@@@1@18@@oe@2-2-2013
21143021@unknown@formal@none@1@S@It also was detailed in Congressional testimony this past February: An explosion at the Microbiology and Virology Institute in Sverdlovsk released anthrax germs that caused a significant number of deaths.@@@@1@30@@oe@2-2-2013
21143022@unknown@formal@none@1@S@Since Mr. Shevardnadze did not address this topic before the Supreme Soviet, the Soviet Union's official position remains that the anthrax deaths were caused by tainted meat.@@@@1@27@@oe@2-2-2013
21143023@unknown@formal@none@1@S@We doubt this claim just as we doubted Mr. Shevardnadze's assurance last year that Krasnoyarsk didn't violate the ABM treaty.@@@@1@20@@oe@2-2-2013
21143024@unknown@formal@none@1@S@And just as we did not believe the tendentious claims of the Congressmen and arms-control advocates who visited Krasnoyarsk, we are in no way persuaded by the assent to the tainted-meat theory by a U.S. team of scientists who met with Soviet counterparts in Washington last year.@@@@1@47@@oe@2-2-2013
21143025@unknown@formal@none@1@S@The Soviets' explanation is that the anthrax came from one lot of animal feed made from the bones of cattle that grazed on soil that was naturally infected with anthrax spores.@@@@1@31@@oe@2-2-2013
21143026@unknown@formal@none@1@S@Harvard's Matthew Meselson -- who we read has sold something called the "scientific community" on the notion that "yellow rain" attacks on the Laotian Hmong were in fact the result of fecal showers by giant bees -- found the Soviet anthrax scenario "completely plausible."@@@@1@44@@oe@2-2-2013
21143027@unknown@formal@none@1@S@We don't believe it.@@@@1@4@@oe@2-2-2013
21143028@unknown@formal@none@1@S@And we certainly do not believe that Mr. Gorbachev or any of his emissaries yet deserve to have the West take their word for it.@@@@1@25@@oe@2-2-2013
21143029@unknown@formal@none@1@S@Sverdlovsk is a large gray cloud over glasnost and indeed over the legitimacy of the arms-control process itself.@@@@1@18@@oe@2-2-2013
21143030@unknown@formal@none@1@S@The U.S. government's Sverdlovsk complaint, as with Krasnoyarsk, is no mere political posturing.@@@@1@13@@oe@2-2-2013
21143031@unknown@formal@none@1@S@Biological weapons violations have figured little in political debate, and indeed have not been pressed vigorously enough by the U.S. government.@@@@1@21@@oe@2-2-2013
21143032@unknown@formal@none@1@S@But the stated U.S. position is detailed and specific, and the prospect of biological warfare is profoundly chilling.@@@@1@18@@oe@2-2-2013
21143033@unknown@formal@none@1@S@The Soviets should be willing to set in motion a process that would allow them to acknowledge that Sverdlovsk violated the 1972 agreement or, alternatively, that would give U.S. specialists reasonable confidence that this was a wholly civilian accident.@@@@1@39@@oe@2-2-2013
21143034@unknown@formal@none@1@S@Until that happens, glasnost cannot begin to deserve the kind of credibility Mr. Shevardnadze was bidding for with his confessions on Monday.@@@@1@22@@oe@2-2-2013
21144001@unknown@formal@none@1@S@Manville Corp. said it offered to buy $500 million of its convertible preferred stock from the Manville Personal Injury Settlement Trust in a move that would improve the trust's liquidity and reduce the potential number of Manville shares outstanding.@@@@1@39@@oe@2-2-2013
21144002@unknown@formal@none@1@S@Manville said it made the offer within the past several weeks as part of an effort to improve shareholder value.@@@@1@20@@oe@2-2-2013
21144003@unknown@formal@none@1@S@It said it would purchase the stock at market price.@@@@1@10@@oe@2-2-2013
21144004@unknown@formal@none@1@S@Manville and a spokeswoman for the trust said that the two are discussing the proposal but a decision hasn't been made.@@@@1@21@@oe@2-2-2013
21144005@unknown@formal@none@1@S@"We are considering that offer along with all other alternatives," the trust spokeswoman said.@@@@1@14@@oe@2-2-2013
21144006@unknown@formal@none@1@S@"We need to look at how to maximize our cash flow to pay our beneficiaries."@@@@1@15@@oe@2-2-2013
21144007@unknown@formal@none@1@S@The trust, created as part of Manville's bankruptcy-law reorganization to compensate victims of asbestos-related diseases, owns 7.2 million of the Series A convertible preferred shares, which are each convertible into 10 Manville common shares.@@@@1@34@@oe@2-2-2013
21144008@unknown@formal@none@1@S@The trust also owns half of Manville's 48 million common shares outstanding.@@@@1@12@@oe@2-2-2013
21144009@unknown@formal@none@1@S@Based on Manville's closing price yesterday of $9.25 a share, Manville's offer would purchase about 5.4 million of its preferred shares, or about 75% of the trust's preferred stock holding.@@@@1@30@@oe@2-2-2013
21144010@unknown@formal@none@1@S@In addition to the stock and 20% of Manville's profits beginning in 1992, the trust is supposed to receive $2.5 billion over its 27-year life.@@@@1@25@@oe@2-2-2013
21144011@unknown@formal@none@1@S@But it initially was funded with about $765 million and may soon face a cash crunch.@@@@1@16@@oe@2-2-2013
21144012@unknown@formal@none@1@S@As of June 30, it had settled about 15,000 of 81,000 claims filed and its unpaid claims totaled $136 million, a large portion of its $268 million in cash and marketable securities.@@@@1@32@@oe@2-2-2013
21144013@unknown@formal@none@1@S@Since most of its assets are tied to Manville, a forest and building products concern, the trust might also want to diversify its holdings.@@@@1@24@@oe@2-2-2013
21144014@unknown@formal@none@1@S@As part of its offer, Manville said it requested changes in some covenants between it and the trust to allow Manville to "reflect a more typical corporate ownership and financial structure."@@@@1@31@@oe@2-2-2013
21144015@unknown@formal@none@1@S@A Manville spokesman wouldn't elaborate on the proposed changes.@@@@1@9@@oe@2-2-2013
21144016@unknown@formal@none@1@S@But he said they are "to a large degree, housekeeping," although some may generate some disagreement.@@@@1@16@@oe@2-2-2013
21144017@unknown@formal@none@1@S@Manville said the shares issued to the trust were intended to be sold, as needed, and that Manville has the right of first refusal to buy those shares.@@@@1@28@@oe@2-2-2013
21145001@unknown@formal@none@1@S@Northeast Utilities raised its bid for Public Service Co. of New Hampshire, which is operating under Bankruptcy Code protection, to $2.25 billion from $1.85 billion.@@@@1@25@@oe@2-2-2013
21145002@unknown@formal@none@1@S@Northeast's raised bid, which was supported by PS of New Hampshire's official shareholder committee, is a prelude to what is expected to be a round of higher bids by the other groups trying to acquire the company, the largest utility in New Hampshire.@@@@1@43@@oe@2-2-2013
21145003@unknown@formal@none@1@S@The $2.25 billion value claimed by Northeast, based in Hartford, Conn., is the highest yet given to a bid.@@@@1@19@@oe@2-2-2013
21145004@unknown@formal@none@1@S@Some of the three other bidding groups are expected to increase their offers tomorrow, a date set for revised offers by a bankruptcy court judge.@@@@1@25@@oe@2-2-2013
21145005@unknown@formal@none@1@S@A hearing is set for Nov. 15, but participants don't expect a resolution until July 1990.@@@@1@16@@oe@2-2-2013
21145006@unknown@formal@none@1@S@Under the new Northeast Utilities plan, it would pay $1.65 billion in cash to creditors and assume $100 million in pollution control bonds.@@@@1@23@@oe@2-2-2013
21145007@unknown@formal@none@1@S@Secured creditors would recover both principal and interest, while unsecured creditors would receive only principal and interest accrued before PS of New Hampshire filed for Bankruptcy Code protection in January@@@@1@30@@oe@2-2-2013
21145008@unknown@formal@none@1@S@The biggest change in Northeast's offer was in improvements made for equity holders who had been given short shrift previously.@@@@1@20@@oe@2-2-2013
21145009@unknown@formal@none@1@S@Assuming full operation of the Seabrook nuclear power plant, which is completed but isn't yet operating, equity holders would receive up to $500 million in cash, preferred stock and new 10-year Seabrook bonds.@@@@1@33@@oe@2-2-2013
21145010@unknown@formal@none@1@S@Northeast's previous offer had proposed that equity holders receive just $165 million.@@@@1@12@@oe@2-2-2013
21145011@unknown@formal@none@1@S@In addition, Northeast promised the State of New Hampshire that rate increases would be limited to 5.5% annually for seven years.@@@@1@21@@oe@2-2-2013
21145012@unknown@formal@none@1@S@Its previous proposal had conditioned rate limits on Seabrook operations and other contingencies.@@@@1@13@@oe@2-2-2013
21145013@unknown@formal@none@1@S@Wilbur Ross, financial adviser to the equity holders said, "Given the state's strong bargaining position . . . we believe the NU plan provides the best recovery available" to PS of New Hampshire's equity holders.@@@@1@35@@oe@2-2-2013
21145014@unknown@formal@none@1@S@Officials of PS of New Hampshire couldn't be reached for comment.@@@@1@11@@oe@2-2-2013
21145015@unknown@formal@none@1@S@The company has filed an internal reorganization plan it valued at $2.2 billion that would require 5.5% rate increases.@@@@1@19@@oe@2-2-2013
21145016@unknown@formal@none@1@S@That plan would leave existing preferred shareholders with at least a 41% stake and give common shareholders as little as 13%.@@@@1@21@@oe@2-2-2013
21145017@unknown@formal@none@1@S@New England Electric System, Westborough, Mass., has proposed buying the company for $2 billion as part of a plan that would require rate increases of only 4.8% annually for seven years.@@@@1@31@@oe@2-2-2013
21145018@unknown@formal@none@1@S@The state of New Hampshire has favored that plan.@@@@1@9@@oe@2-2-2013
21145019@unknown@formal@none@1@S@The other bidder is United Illuminating Co., New Haven, Conn., with a bid valued at $2.2 billion and and a proposal for seven years of 5.5% rate increases.@@@@1@28@@oe@2-2-2013
21146001@unknown@formal@none@1@S@The Polish rat will eat well this winter.@@@@1@8@@oe@2-2-2013
21146002@unknown@formal@none@1@S@Tons of delectably rotting potatoes, barley and wheat will fill damp barns across the land as thousands of farmers turn the state's buyers away.@@@@1@24@@oe@2-2-2013
21146003@unknown@formal@none@1@S@Many a piglet won't be born as a result, and many a ham will never hang in a butcher shop.@@@@1@20@@oe@2-2-2013
21146004@unknown@formal@none@1@S@But with inflation raging, grain in the barn will still be a safer bet for the private farmer than money in the bank.@@@@1@23@@oe@2-2-2013
21146005@unknown@formal@none@1@S@Once again, the indomitable peasant holds Poland's future in his hands.@@@@1@11@@oe@2-2-2013
21146006@unknown@formal@none@1@S@Until his labor can produce a profit in this dying and distorted system, even Solidarity's sympathetic new government won't win him over.@@@@1@22@@oe@2-2-2013
21146007@unknown@formal@none@1@S@In coming months, emergency food aid moving in from the West will be the one buffer between a meat-hungry public and a new political calamity.@@@@1@25@@oe@2-2-2013
21146008@unknown@formal@none@1@S@Factory workers on strike knocked Poland's Communist bosses off balance last year; this year, it was the farmers who brought them down.@@@@1@22@@oe@2-2-2013
21146009@unknown@formal@none@1@S@In June, farmers held onto meat, milk and grain, waiting for July's usual state-directed price rises.@@@@1@16@@oe@2-2-2013
21146010@unknown@formal@none@1@S@The Communists froze prices instead.@@@@1@5@@oe@2-2-2013
21146011@unknown@formal@none@1@S@The farmers ran a boycott, and meat disappeared from the shops.@@@@1@11@@oe@2-2-2013
21146012@unknown@formal@none@1@S@On Aug. 1, the state tore up its controls, and food prices leaped.@@@@1@13@@oe@2-2-2013
21146013@unknown@formal@none@1@S@Without buffer stocks, inflation exploded.@@@@1@5@@oe@2-2-2013
21146014@unknown@formal@none@1@S@That was when the tame old Peasants' Party, desperate to live through the crisis, broke ranks with the Communists and joined with Solidarity in the East Bloc's first liberated government.@@@@1@30@@oe@2-2-2013
21146015@unknown@formal@none@1@S@But by the time Solidarity took office in September, the damage was done.@@@@1@13@@oe@2-2-2013
21146016@unknown@formal@none@1@S@"Shortageflation," as economists have come to call it, had gone hyper.@@@@1@11@@oe@2-2-2013
21146017@unknown@formal@none@1@S@The cost of raising a pig kept bounding ahead of the return for selling one.@@@@1@15@@oe@2-2-2013
21146018@unknown@formal@none@1@S@The farmers stayed angry.@@@@1@4@@oe@2-2-2013
21146019@unknown@formal@none@1@S@They still are.@@@@1@3@@oe@2-2-2013
21146020@unknown@formal@none@1@S@At dawn on a cool day, hundreds travel to the private market in Radzymin, a town not far from Warsaw, hauling pigs, cattle and sacks of feed that the state's official buyers can't induce them to sell.@@@@1@37@@oe@2-2-2013
21146021@unknown@formal@none@1@S@Here, they are searching for a higher price.@@@@1@8@@oe@2-2-2013
21146022@unknown@formal@none@1@S@In a crush of trucks and horse carts on the trodden field, Andrzej Latowski wrestles a screeching, overweight hog into the trunk of a private butcher's Polish Fiat.@@@@1@28@@oe@2-2-2013
21146023@unknown@formal@none@1@S@"Of course it's better to sell private," he says, as the butcher trundles away.@@@@1@14@@oe@2-2-2013
21146024@unknown@formal@none@1@S@"Why should anybody want to sell to them?"@@@@1@8@@oe@2-2-2013
21146025@unknown@formal@none@1@S@The young farmer makes money on the few hogs he sells here.@@@@1@12@@oe@2-2-2013
21146026@unknown@formal@none@1@S@He won't for long, because his old state sources of rye and potatoes are drying up.@@@@1@16@@oe@2-2-2013
21146027@unknown@formal@none@1@S@"There's no feed," he says.@@@@1@5@@oe@2-2-2013
21146028@unknown@formal@none@1@S@"You can't buy anything nowadays.@@@@1@5@@oe@2-2-2013
21146029@unknown@formal@none@1@S@I don't know why."@@@@1@4@@oe@2-2-2013
21146030@unknown@formal@none@1@S@Edward Chojnowski does.@@@@1@3@@oe@2-2-2013
21146031@unknown@formal@none@1@S@His truck is parked across the field, in a row of grain sellers.@@@@1@13@@oe@2-2-2013
21146032@unknown@formal@none@1@S@Like the others, it is loaded with rye, wheat and oats in sacks labeled "Asbestos. Made in U.S.S.R."@@@@1@18@@oe@2-2-2013
21146033@unknown@formal@none@1@S@The farmer at the next truck shouts, "Wheat!@@@@1@8@@oe@2-2-2013
21146034@unknown@formal@none@1@S@It's nice!@@@@1@2@@oe@2-2-2013
21146035@unknown@formal@none@1@S@It won't be cheaper!@@@@1@4@@oe@2-2-2013
21146036@unknown@formal@none@1@S@We sell direct!"@@@@1@3@@oe@2-2-2013
21146037@unknown@formal@none@1@S@A heavy, kerchiefed woman runs a handful through her fingers, and counts him out a pile of zlotys.@@@@1@18@@oe@2-2-2013
21146038@unknown@formal@none@1@S@"Country people breed pigs," says Mr. Chojnowski, leaning against the back of his truck.@@@@1@14@@oe@2-2-2013
21146039@unknown@formal@none@1@S@"They can't buy feed from the state.@@@@1@7@@oe@2-2-2013
21146040@unknown@formal@none@1@S@There isn't enough.@@@@1@3@@oe@2-2-2013
21146041@unknown@formal@none@1@S@Some state middlemen come to buy from me.@@@@1@8@@oe@2-2-2013
21146042@unknown@formal@none@1@S@I sell -- a little.@@@@1@5@@oe@2-2-2013
21146043@unknown@formal@none@1@S@I am waiting.@@@@1@3@@oe@2-2-2013
21146044@unknown@formal@none@1@S@I have plenty more at home."@@@@1@6@@oe@2-2-2013
21146045@unknown@formal@none@1@S@On this morning, he doesn't sell much in Radzymin, either.@@@@1@10@@oe@2-2-2013
21146046@unknown@formal@none@1@S@At closing time, farmers cart out most of what they carted in.@@@@1@12@@oe@2-2-2013
21146047@unknown@formal@none@1@S@A private market like this just isn't big enough to absorb all that business.@@@@1@14@@oe@2-2-2013
21146048@unknown@formal@none@1@S@The hulk of Stalinism, it seems, will not quickly crumble away.@@@@1@11@@oe@2-2-2013
21146049@unknown@formal@none@1@S@State monopolies will keep on stifling trade, "free" prices or not, until something else replaces them.@@@@1@16@@oe@2-2-2013
21146050@unknown@formal@none@1@S@Polish agriculture will need a whole private network of procurement, processing and distribution -- plus a new manufacturing industry to supply it with tractors, pesticides, fertilizers and feed.@@@@1@28@@oe@2-2-2013
21146051@unknown@formal@none@1@S@The Communists spent 40 years working to ensure that no such capitalistic structures ever arose here.@@@@1@16@@oe@2-2-2013
21146052@unknown@formal@none@1@S@Building them now will require undergirding from the West, and removal of political deadwood, a job that Solidarity has barely started.@@@@1@21@@oe@2-2-2013
21146053@unknown@formal@none@1@S@But Polish agriculture does possess one great asset already: the private farmer.@@@@1@12@@oe@2-2-2013
21146054@unknown@formal@none@1@S@"We are dealing with real entrepreneurs," says Antoni Leopold, an economist who advises Rural Solidarity, the union's countryside offshoot.@@@@1@19@@oe@2-2-2013
21146055@unknown@formal@none@1@S@"There are a lot of them, and they have property."@@@@1@10@@oe@2-2-2013
21146056@unknown@formal@none@1@S@Polish peasants, spurning the collectivizers, were once a source of shame to orthodox Communists.@@@@1@14@@oe@2-2-2013
21146057@unknown@formal@none@1@S@Now, among Communist reformers, they are objects of envy.@@@@1@9@@oe@2-2-2013
21146058@unknown@formal@none@1@S@Food is the reformer's top priority, the key to popular support.@@@@1@11@@oe@2-2-2013
21146059@unknown@formal@none@1@S@As the Chinese have shown and the Soviets are learning, family farms thrive where collectives fail.@@@@1@16@@oe@2-2-2013
21146060@unknown@formal@none@1@S@Ownership, it seems, is the best fertilizer.@@@@1@7@@oe@2-2-2013
21146061@unknown@formal@none@1@S@The Poles have had it all along.@@@@1@7@@oe@2-2-2013
21146062@unknown@formal@none@1@S@Poland's 2.7 million small private farms cover 76% of its arable land.@@@@1@12@@oe@2-2-2013
21146063@unknown@formal@none@1@S@On it, a quarter of the country's 39 million people produce three-quarters of its grain, beef, eggs and milk, and nine-tenths of its fruit, vegetables and potatoes.@@@@1@27@@oe@2-2-2013
21146064@unknown@formal@none@1@S@Like the Roman Catholic Church, the Polish peasant is a pillar of the nation.@@@@1@14@@oe@2-2-2013
21146065@unknown@formal@none@1@S@Try as they might, the Communists could neither replace nor break him.@@@@1@12@@oe@2-2-2013
21146066@unknown@formal@none@1@S@And they did try.@@@@1@4@@oe@2-2-2013
21146067@unknown@formal@none@1@S@A few miles past Radzymin, a dirt road narrows to a track of sand and leads into Zalubice, a village of tumbledown farms.@@@@1@23@@oe@2-2-2013
21146068@unknown@formal@none@1@S@Czeslaw Pyszkiewicz owns 30 acres in 14 scattered scraps.@@@@1@9@@oe@2-2-2013
21146069@unknown@formal@none@1@S@He grows rye and potatoes for a few hens, five cows and 25 piglets.@@@@1@14@@oe@2-2-2013
21146070@unknown@formal@none@1@S@In patched pants and torn shoes, he stands in his barnyard eyeing the ground with a look both helpless and sardonic.@@@@1@21@@oe@2-2-2013
21146071@unknown@formal@none@1@S@"It's bad soil," he says.@@@@1@5@@oe@2-2-2013
21146072@unknown@formal@none@1@S@Until 1963, it was good soil.@@@@1@6@@oe@2-2-2013
21146073@unknown@formal@none@1@S@Then the state put in a reservoir to supply the area with drinking water.@@@@1@14@@oe@2-2-2013
21146074@unknown@formal@none@1@S@Farmers lay down before the bulldozers.@@@@1@6@@oe@2-2-2013
21146075@unknown@formal@none@1@S@Their protest was ignored.@@@@1@4@@oe@2-2-2013
21146076@unknown@formal@none@1@S@The dam caused the water level to drop in Zalubice.@@@@1@10@@oe@2-2-2013
21146077@unknown@formal@none@1@S@Mr Pyszkiewicz smiles and his brow furrows.@@@@1@7@@oe@2-2-2013
21146078@unknown@formal@none@1@S@He expected as much.@@@@1@4@@oe@2-2-2013
21146079@unknown@formal@none@1@S@In his lifetime, 47 years, the Communists brought electricity to his village and piped in drinking water from the reservoir.@@@@1@20@@oe@2-2-2013
21146080@unknown@formal@none@1@S@No phones.@@@@1@2@@oe@2-2-2013
21146081@unknown@formal@none@1@S@No gas.@@@@1@2@@oe@2-2-2013
21146082@unknown@formal@none@1@S@"We wanted them to build a road here," he says.@@@@1@10@@oe@2-2-2013
21146083@unknown@formal@none@1@S@"They started, and then abandoned it."@@@@1@6@@oe@2-2-2013
21146084@unknown@formal@none@1@S@A tractor, his only mechanized equipment, stands in front of the pigsty.@@@@1@12@@oe@2-2-2013
21146085@unknown@formal@none@1@S@"It's Russian.@@@@1@2@@oe@2-2-2013
21146086@unknown@formal@none@1@S@Good for nothing.@@@@1@3@@oe@2-2-2013
21146087@unknown@formal@none@1@S@Parts are a tragedy.@@@@1@4@@oe@2-2-2013
21146088@unknown@formal@none@1@S@Even if I had a lot of money, I couldn't buy what I need."@@@@1@14@@oe@2-2-2013
21146089@unknown@formal@none@1@S@The farmer can say the same for coal, cement, saw blades.@@@@1@11@@oe@2-2-2013
21146090@unknown@formal@none@1@S@In Poland, only 4% of all investment goes toward making things farmers want; in the West, it is closer to 20%.@@@@1@21@@oe@2-2-2013
21146091@unknown@formal@none@1@S@The few big state farms take first crack at what does get made.@@@@1@13@@oe@2-2-2013
21146092@unknown@formal@none@1@S@They use 60% more fertilizer per acre, twice the high-grade feed.@@@@1@11@@oe@2-2-2013
21146093@unknown@formal@none@1@S@Yet their best boast is that they produce 32% of Polish pork.@@@@1@12@@oe@2-2-2013
21146094@unknown@formal@none@1@S@"I've heard from friends that state farms are subsidized," Mr. Pyszkiewicz says as his wife, Wieslawa, sets some chairs out in the sun.@@@@1@23@@oe@2-2-2013
21146095@unknown@formal@none@1@S@"We have one near here.@@@@1@5@@oe@2-2-2013
21146096@unknown@formal@none@1@S@There is a lot of waste.@@@@1@6@@oe@2-2-2013
21146097@unknown@formal@none@1@S@A private farmer never wastes anything."@@@@1@6@@oe@2-2-2013
21146098@unknown@formal@none@1@S@The state quit shoving peasants onto its subsidized farms over 30 years ago.@@@@1@13@@oe@2-2-2013
21146099@unknown@formal@none@1@S@But it never did let up on the pressure.@@@@1@9@@oe@2-2-2013
21146100@unknown@formal@none@1@S@Until recently, a farmer with no heir had to will the state his land to collect his pension.@@@@1@18@@oe@2-2-2013
21146101@unknown@formal@none@1@S@The pension's size still depends on how much produce he sells the state.@@@@1@13@@oe@2-2-2013
21146102@unknown@formal@none@1@S@His allotment of materials also did, until the state couldn't hold up its end of that bargain.@@@@1@17@@oe@2-2-2013
21146103@unknown@formal@none@1@S@Yet the state alone sells seeds and machines.@@@@1@8@@oe@2-2-2013
21146104@unknown@formal@none@1@S@When supplies are short, it often hands them over only in exchange for milk or grain.@@@@1@16@@oe@2-2-2013
21146105@unknown@formal@none@1@S@A private farmer in Poland is free to buy and sell land, hire help, decide what to grow and how to grow it.@@@@1@23@@oe@2-2-2013
21146106@unknown@formal@none@1@S@He is free to invest in chickens, and to fail for lack of chicken wire.@@@@1@15@@oe@2-2-2013
21146107@unknown@formal@none@1@S@He has plenty of freedom -- but no choices.@@@@1@9@@oe@2-2-2013
21146108@unknown@formal@none@1@S@"I'm on my own land," Mr. Pyszkiewicz says.@@@@1@8@@oe@2-2-2013
21146109@unknown@formal@none@1@S@"I don't have to listen to what anybody tells me to do."@@@@1@12@@oe@2-2-2013
21146110@unknown@formal@none@1@S@"Sometimes," says his wife, "we're happy about that."@@@@1@8@@oe@2-2-2013
21146111@unknown@formal@none@1@S@By starving the peasant, the Communists have starved Poland.@@@@1@9@@oe@2-2-2013
21146112@unknown@formal@none@1@S@Villages like Zalubice exist in a desert of poor schools and few doctors.@@@@1@13@@oe@2-2-2013
21146113@unknown@formal@none@1@S@Farm income is 15% below the average.@@@@1@7@@oe@2-2-2013
21146114@unknown@formal@none@1@S@The young leave, especially girls who won't milk cows by hand.@@@@1@11@@oe@2-2-2013
21146115@unknown@formal@none@1@S@Some men stay, their best friend a bottle of vodka, but two million acres have gone fallow.@@@@1@17@@oe@2-2-2013
21146116@unknown@formal@none@1@S@Without machines, good farms can't get bigger.@@@@1@7@@oe@2-2-2013
21146117@unknown@formal@none@1@S@So the potato crop, once 47 million tons, is down to 35 million.@@@@1@13@@oe@2-2-2013
21146118@unknown@formal@none@1@S@Meat consumption is at 1979's level, pork production at 1973's, milk output at 1960's.@@@@1@14@@oe@2-2-2013
21146119@unknown@formal@none@1@S@If a food crisis undid the Communists, a food revolution will make Solidarity.@@@@1@13@@oe@2-2-2013
21146120@unknown@formal@none@1@S@The potential is displayed along every road into Warsaw: row upon row of greenhouses, stretching out behind modern mansions that trumpet their owners' wealth.@@@@1@24@@oe@2-2-2013
21146121@unknown@formal@none@1@S@Vegetables are abundant and full of flavor in Poland, the pickles and sauerkraut sublime, the state monopolies long broken.@@@@1@19@@oe@2-2-2013
21146122@unknown@formal@none@1@S@Grain, milk and meat come next.@@@@1@6@@oe@2-2-2013
21146123@unknown@formal@none@1@S@A private challenge to the monolithic tractor industry will take more time and money than Poland can spare, although a smokehouse or a local dairy can spring up fast.@@@@1@29@@oe@2-2-2013
21146124@unknown@formal@none@1@S@Poland makes no machinery for a plant on that scale.@@@@1@10@@oe@2-2-2013
21146125@unknown@formal@none@1@S@Solidarity wants it from the West.@@@@1@6@@oe@2-2-2013
21146126@unknown@formal@none@1@S@Maria Stolzman, one of its farm experts, lays it on the line: "The World Bank will be brought in to help us destroy the old system."@@@@1@26@@oe@2-2-2013
21146127@unknown@formal@none@1@S@Felix Siemienas is destroying it now.@@@@1@6@@oe@2-2-2013
21146128@unknown@formal@none@1@S@He packs pork.@@@@1@3@@oe@2-2-2013
21146129@unknown@formal@none@1@S@A law went on the books in January that let him smoke bacon without breeding pigs.@@@@1@16@@oe@2-2-2013
21146130@unknown@formal@none@1@S@He cashed in.@@@@1@3@@oe@2-2-2013
21146131@unknown@formal@none@1@S@Poland is short on enterprises, not enterprise.@@@@1@7@@oe@2-2-2013
21146132@unknown@formal@none@1@S@"I pay a lot to the farmer and five times the state salary to my employees," he says.@@@@1@18@@oe@2-2-2013
21146133@unknown@formal@none@1@S@He is in Warsaw to open a shop.@@@@1@8@@oe@2-2-2013
21146134@unknown@formal@none@1@S@"I hire transportation, and my customers have fresh cold cuts every day.@@@@1@12@@oe@2-2-2013
21146135@unknown@formal@none@1@S@I don't subsidize anyone.@@@@1@4@@oe@2-2-2013
21146136@unknown@formal@none@1@S@Everyone around me lives well.@@@@1@5@@oe@2-2-2013
21146137@unknown@formal@none@1@S@Yes, my prices are high.@@@@1@5@@oe@2-2-2013
21146138@unknown@formal@none@1@S@If nobody buys, I bring my prices down.@@@@1@8@@oe@2-2-2013
21146139@unknown@formal@none@1@S@That's the rule.@@@@1@3@@oe@2-2-2013
21146140@unknown@formal@none@1@S@That's the market."@@@@1@3@@oe@2-2-2013
21146141@unknown@formal@none@1@S@Mr. Siemienas is making a fortune -- $10,000 a month, he says.@@@@1@12@@oe@2-2-2013
21146142@unknown@formal@none@1@S@He has bought some trendy Western clothes, and a green Mercedes with an American flag in the window.@@@@1@18@@oe@2-2-2013
21146143@unknown@formal@none@1@S@But the meat-processing machines he picked up are 50 years old.@@@@1@11@@oe@2-2-2013
21146144@unknown@formal@none@1@S@"I don't want expensive machines.@@@@1@5@@oe@2-2-2013
21146145@unknown@formal@none@1@S@If the situation changes, I'll get stuck with them."@@@@1@9@@oe@2-2-2013
21146146@unknown@formal@none@1@S@That's politics.@@@@1@2@@oe@2-2-2013
21146147@unknown@formal@none@1@S@By taking power in a deal with the Peasant Party's onetime Communist stooges, Solidarity has spooked the rural entrepreneur.@@@@1@19@@oe@2-2-2013
21146148@unknown@formal@none@1@S@Rural Solidarity objected, to no avail, when Solidarity leader Lech Walesa accepted the Peasants' support.@@@@1@15@@oe@2-2-2013
21146149@unknown@formal@none@1@S@It objected again in September when Prime Minister Tadeusz Mazowiecki reluctantly named a Peasant Party man as his agriculture minister.@@@@1@20@@oe@2-2-2013
21146150@unknown@formal@none@1@S@Both the Peasants and Rural Solidarity are forming new political parties for farmers.@@@@1@13@@oe@2-2-2013
21146151@unknown@formal@none@1@S@The Peasants can make a credible case, against Solidarity, that hell-bent reform will drive millions from the land.@@@@1@18@@oe@2-2-2013
21146152@unknown@formal@none@1@S@Next Spring, the two will battle in local elections.@@@@1@9@@oe@2-2-2013
21146153@unknown@formal@none@1@S@But until then, and probably long afterward, the Communists' apparat of obstruction -- from the head of the dairy co-op to the village bank manager -- will stay planted in the Polish countryside.@@@@1@33@@oe@2-2-2013
21146154@unknown@formal@none@1@S@"We know how to get from capitalism to socialism," Sergiusz Niciporuk is saying one afternoon.@@@@1@15@@oe@2-2-2013
21146155@unknown@formal@none@1@S@"We don't know how to get from socialism to capitalism."@@@@1@10@@oe@2-2-2013
21146156@unknown@formal@none@1@S@He farms 12 acres in Grabowiec, two miles from the Soviet border in one of Poland's poorest places.@@@@1@18@@oe@2-2-2013
21146157@unknown@formal@none@1@S@Now he is mounting the steps of a stucco building in a nearby village, on a visit to the Communist administrator, the "naczelnik."@@@@1@23@@oe@2-2-2013
21146158@unknown@formal@none@1@S@"Many people in Poland hope this government will break down," says Mr. Niciporuk, who belongs to the local council and to Rural Solidarity.@@@@1@23@@oe@2-2-2013
21146159@unknown@formal@none@1@S@"That's what the naczelnik counts on.@@@@1@6@@oe@2-2-2013
21146160@unknown@formal@none@1@S@He is our most dangerous enemy.@@@@1@6@@oe@2-2-2013
21146161@unknown@formal@none@1@S@Every time he sees me, he gets very nervous."@@@@1@9@@oe@2-2-2013
21146162@unknown@formal@none@1@S@The farmer barges into the naczelnik's office.@@@@1@7@@oe@2-2-2013
21146163@unknown@formal@none@1@S@A thin man in a gray suit looks up from a newspaper.@@@@1@12@@oe@2-2-2013
21146164@unknown@formal@none@1@S@Mr. Niciporuk sits.@@@@1@3@@oe@2-2-2013
21146165@unknown@formal@none@1@S@Anatol Pawlowski's leg begins jiggling beneath his desk.@@@@1@8@@oe@2-2-2013
21146166@unknown@formal@none@1@S@"Solidarity doesn't care for the good of this region," he says after a few pleasantries.@@@@1@15@@oe@2-2-2013
21146167@unknown@formal@none@1@S@"They want to turn everything upside down in a week.@@@@1@10@@oe@2-2-2013
21146168@unknown@formal@none@1@S@Mr. Niciporuk here wants 60 acres used at the moment by a state farm.@@@@1@14@@oe@2-2-2013
21146169@unknown@formal@none@1@S@He can't guarantee that he can use it any better."@@@@1@10@@oe@2-2-2013
21146170@unknown@formal@none@1@S@"I am ready at any moment to compete with a state farm."@@@@1@12@@oe@2-2-2013
21146171@unknown@formal@none@1@S@The naczelnik averts his eyes.@@@@1@5@@oe@2-2-2013
21146172@unknown@formal@none@1@S@"What have you got?@@@@1@4@@oe@2-2-2013
21146173@unknown@formal@none@1@S@Not even a tractor.@@@@1@4@@oe@2-2-2013
21146174@unknown@formal@none@1@S@And you want to make wicker baskets, too."@@@@1@8@@oe@2-2-2013
21146175@unknown@formal@none@1@S@"I can do five things at once -- to be a businessman."@@@@1@12@@oe@2-2-2013
21146176@unknown@formal@none@1@S@"Big business," Mr. Pawlowski snorts in English.@@@@1@7@@oe@2-2-2013
21146177@unknown@formal@none@1@S@The farmer stands to go.@@@@1@5@@oe@2-2-2013
21146178@unknown@formal@none@1@S@The naczelnik stands, too.@@@@1@4@@oe@2-2-2013
21146179@unknown@formal@none@1@S@"I care very much for this post," he says.@@@@1@9@@oe@2-2-2013
21146180@unknown@formal@none@1@S@"Eight years I've had it.@@@@1@5@@oe@2-2-2013
21146181@unknown@formal@none@1@S@A cultural center has been built, shops.@@@@1@7@@oe@2-2-2013
21146182@unknown@formal@none@1@S@Suddenly, I am not a comfortable man for Solidarity.@@@@1@9@@oe@2-2-2013
21146183@unknown@formal@none@1@S@I have accomplished too much.@@@@1@5@@oe@2-2-2013
21146184@unknown@formal@none@1@S@They want to do more.@@@@1@5@@oe@2-2-2013
21146185@unknown@formal@none@1@S@I wish them all the best!"@@@@1@6@@oe@2-2-2013
21146186@unknown@formal@none@1@S@The farmer leaves.@@@@1@3@@oe@2-2-2013
21146187@unknown@formal@none@1@S@And the naczelnik shuts his door.@@@@1@6@@oe@2-2-2013
21147001@unknown@formal@none@1@S@The House approved a short-term spending bill to keep the government operating through Nov. 15 and provide $2.85 billion in emergency funds to assist in the recovery from Hurricane Hugo and the California earthquake.@@@@1@34@@oe@2-2-2013
21147002@unknown@formal@none@1@S@The 321-99 roll call vote reflected broad support for the disaster assistance, but the cost to the Treasury is sure to aggravate budget pressures this year and next under the Gramm-Rudman deficit reduction law.@@@@1@34@@oe@2-2-2013
21147003@unknown@formal@none@1@S@By a lopsided 401-18 margin, the chamber rejected an effort to waive Gramm-Rudman for purposes of addressing the two disasters, and budget analysts estimate the increased appropriations will widen the fiscal 1990 deficit by at least $1.44 billion unless offsetting spending cuts or new revenues are found by Congress.@@@@1@49@@oe@2-2-2013
21147004@unknown@formal@none@1@S@The budget impact will be greater still in fiscal 1991, and the issue forced a confrontation between the Appropriations Committee leadership and Budget Committee Chairman Leon Panetta, whose California district was at the center of the earthquake last week.@@@@1@39@@oe@2-2-2013
21147005@unknown@formal@none@1@S@Going to the well of the chamber, Mr. Panetta demanded the costs be fully counted.@@@@1@15@@oe@2-2-2013
21147006@unknown@formal@none@1@S@His prominent role put him in the awkward position of challenging the very committee members on whom his state will be most dependent in the months ahead.@@@@1@27@@oe@2-2-2013
21147007@unknown@formal@none@1@S@"We do not come to this House asking for any handout," said the California Democrat.@@@@1@15@@oe@2-2-2013
21147008@unknown@formal@none@1@S@"We do not intend to hide these costs from the American people."@@@@1@12@@oe@2-2-2013
21147009@unknown@formal@none@1@S@The $2.85 billion package incorporates $500 million for low-interest disaster loans, $1 billion in highway construction funds, and $1.35 billion divided between general emergency assistance and a reserve to be available to President Bush to meet unanticipated costs from the two disasters.@@@@1@42@@oe@2-2-2013
21147010@unknown@formal@none@1@S@The funds are in addition to $1.1 billion appropriated last month to assist in the recovery from Hugo, bringing the total for the two disasters to nearly $4 billion in unanticipated spending.@@@@1@32@@oe@2-2-2013
21147011@unknown@formal@none@1@S@Because of the vagaries of Gramm-Rudman, the immediate impact is relatively small.@@@@1@12@@oe@2-2-2013
21147012@unknown@formal@none@1@S@But the appropriations set in motion spending that adds to an already grim budget picture for fiscal 1991.@@@@1@18@@oe@2-2-2013
21147013@unknown@formal@none@1@S@Within the appropriations process, the situation is even more difficult since the costs will be counted against the share of funds to be allocated to those subcommittees that recently have had the greatest difficulty in staying within the budget.@@@@1@39@@oe@2-2-2013
21147014@unknown@formal@none@1@S@The underlying bill approved yesterday is required to keep the government operating past midnight tonight, and this urgency has contributed to the speed -- and, critics say, mistakes -- that have accompanied the package of disaster assistance.@@@@1@37@@oe@2-2-2013
21147015@unknown@formal@none@1@S@The hastily drafted measure could hurt California by requiring it to put up more matching funds for emergency highway assistance than otherwise would be required.@@@@1@25@@oe@2-2-2013
21147016@unknown@formal@none@1@S@And the state's delegation is fearful that the new funding will be counted against a separate $185 million in federal highway funds it would expect to receive under its normal allocation this year.@@@@1@33@@oe@2-2-2013
21147017@unknown@formal@none@1@S@Also, the high price of San Francisco real estate puts the state at odds with federal regulations more attuned to the national average.@@@@1@23@@oe@2-2-2013
21147018@unknown@formal@none@1@S@For example, disaster loans, which will go to small businesses and homeowners, offer credit as low as 4% in some cases.@@@@1@21@@oe@2-2-2013
21147019@unknown@formal@none@1@S@But the San Francisco delegation finds itself asking that the cap per household be lifted to $500,000 from $100,000 to assist the hard hit but often wealthy Marina district.@@@@1@29@@oe@2-2-2013
21147020@unknown@formal@none@1@S@The Senate is expected to make some modifications today, but both the White House and Congress appear most anxious to speed final approval before tonight's deadline.@@@@1@26@@oe@2-2-2013
21147021@unknown@formal@none@1@S@Administration pressure discourages any effort to add to total funding, and the Senate changes are expected to be largely technical -- dealing with highway aid and lifting the ceiling on total Small Business Administration loans to $1.8 billion to accommodate the increased activity expected.@@@@1@44@@oe@2-2-2013
21147022@unknown@formal@none@1@S@Yesterday's floor action came as a House-Senate conference approved a nearly $8.5 billion fiscal 1990 military construction bill, representing a 5% reduction from last year and making severe cuts from Pentagon requests for installations abroad.@@@@1@35@@oe@2-2-2013
21147023@unknown@formal@none@1@S@An estimated $25.8 million is allocated to continue work in Oman.@@@@1@11@@oe@2-2-2013
21147024@unknown@formal@none@1@S@But all funding is cut for the Philippines, and projects in South Korea are cut to $13.6 million, or less than a sixth of the administration's request.@@@@1@27@@oe@2-2-2013
21147025@unknown@formal@none@1@S@Closer to home, the negotiators were more generous.@@@@1@8@@oe@2-2-2013
21147026@unknown@formal@none@1@S@An estimated $38.9 million was set aside for military installations in the home state of North Carolina Rep. W.G. Hefner, the House chairman.@@@@1@23@@oe@2-2-2013
21147027@unknown@formal@none@1@S@And $70.2 million would go to projects in Tennessee represented by his Senate counterpart and fellow Democrat, Sen. James Sasser.@@@@1@20@@oe@2-2-2013
21147028@unknown@formal@none@1@S@Texas and California are traditionally powerful within the conference, but equally striking is the dominance of Alaska, Pennsylvania and West Virginia because of their power elsewhere in the appropriations process.@@@@1@30@@oe@2-2-2013
21147029@unknown@formal@none@1@S@Senate Appropriations Committee Chairman Robert Byrd (D., W.Va.) even added report language listing $49.4 million in projects he wants in the budget next year.@@@@1@24@@oe@2-2-2013
21147030@unknown@formal@none@1@S@No individual illustrated this mix of power more yesterday than Sen. Daniel Inouye (D., Hawaii), who chairs the Senate defense subcommittee.@@@@1@21@@oe@2-2-2013
21147031@unknown@formal@none@1@S@In the final trading, the House was insistent on setting aside $500 million to carry out base closings ordered to begin in fiscal 1990.@@@@1@24@@oe@2-2-2013
21147032@unknown@formal@none@1@S@But it gave ground to Mr. Inouye on a number of projects, ranging from a $11 million parking garage here, to a land transfer in Hawaii, to a provision to assist the Makwah Indian Tribe in Washington state.@@@@1@38@@oe@2-2-2013
21147033@unknown@formal@none@1@S@The tribe is one of the poorest in the Pacific Northwest.@@@@1@11@@oe@2-2-2013
21147034@unknown@formal@none@1@S@Mr. Inouye, who chairs the select committee on Indian Affairs, used his power to move $400,000 from the Air Force to the Bureau of Indian Affairs to assist in renovating a decommissoned base to accommodate a drug and alcohol rehabilitation center.@@@@1@41@@oe@2-2-2013
21147035@unknown@formal@none@1@S@Meanwhile, House-Senate negotiators have tentatively agreed on a $3.18 billion anti-drug and anti-crime intitiative, cutting other federal spending 0.43% to pay for it.@@@@1@23@@oe@2-2-2013
21147036@unknown@formal@none@1@S@A formal House-Senate conference is expected to ratify the accord later this week.@@@@1@13@@oe@2-2-2013
21148001@unknown@formal@none@1@S@Mobil Corp. is preparing to slash the size of its work force in the U.S., possibly as soon as next month, say individuals familiar with the company's strategy.@@@@1@28@@oe@2-2-2013
21148002@unknown@formal@none@1@S@The size of the cuts isn't known, but they'll be centered in the exploration and production division, which is responsible for locating oil reserves, drilling wells and pumping crude oil and natural gas.@@@@1@33@@oe@2-2-2013
21148003@unknown@formal@none@1@S@Employees haven't yet been notified.@@@@1@5@@oe@2-2-2013
21148004@unknown@formal@none@1@S@Sources said that meetings to discuss the staff reductions have been scheduled for Friday at Mobil offices in New Orleans and Denver.@@@@1@22@@oe@2-2-2013
21148005@unknown@formal@none@1@S@This would be a second round of cuts by Mobil, which along with other oil producers and refiners reduced its work force by 15% to 20% during the mid-1980s as part of an industrywide shakeout.@@@@1@35@@oe@2-2-2013
21148006@unknown@formal@none@1@S@Mobil's latest move could signal the beginning of further reductions by other oil companies in their domestic oil-producing operations.@@@@1@19@@oe@2-2-2013
21148007@unknown@formal@none@1@S@In yesterday's third-quarter earnings report, the company alluded to a $40 million provision for restructuring costs involving U.S. exploration and production operations.@@@@1@22@@oe@2-2-2013
21148008@unknown@formal@none@1@S@The report says that "the restructuring will take place over a two-year period and will principally involve the transfer and termination of employees in our U.S. operations."@@@@1@27@@oe@2-2-2013
21148009@unknown@formal@none@1@S@A company spokesman, reached at his home last night, would only say that there will be a public announcement of the reduction program by the end of the week.@@@@1@29@@oe@2-2-2013
21148010@unknown@formal@none@1@S@Most oil companies, including Mobil, have been reporting lower third-quarter earnings, largely as a result of lower earnings from chemicals as well as refining and marketing businesses.@@@@1@27@@oe@2-2-2013
21148011@unknown@formal@none@1@S@Individuals familiar with Mobil's strategy say that Mobil is reducing its U.S. work force because of declining U.S. output.@@@@1@19@@oe@2-2-2013
21148012@unknown@formal@none@1@S@Yesterday, Mobil said domestic exploration and production operations had a $16 million loss in the third quarter, while comparable foreign operations earned $234 million.@@@@1@24@@oe@2-2-2013
21148013@unknown@formal@none@1@S@Industrywide, oil production in this country fell by 500,000 barrels a day to 7.7 million barrels in the first eight months of this year.@@@@1@24@@oe@2-2-2013
21148014@unknown@formal@none@1@S@Daily output is expected to decline by at least another 500,000 barrels next year.@@@@1@14@@oe@2-2-2013
21148015@unknown@formal@none@1@S@Some Mobil executives were dismayed that a reference to the cutbacks was included in the earnings report before workers were notified.@@@@1@21@@oe@2-2-2013
21148016@unknown@formal@none@1@S@One Mobil executive said that the $40 million charge related to the action indicates "a substantial" number of people will be involved.@@@@1@22@@oe@2-2-2013
21148017@unknown@formal@none@1@S@Some will likely be offered severance packages while others will be transferred to overseas operations.@@@@1@15@@oe@2-2-2013
21149001@unknown@formal@none@1@S@The Justice Department is in the process of trying to gain control over a law that federal Judge David Sentelle recently called a "monster."@@@@1@24@@oe@2-2-2013
21149002@unknown@formal@none@1@S@Needless to say, he was talking about RICO.@@@@1@8@@oe@2-2-2013
21149003@unknown@formal@none@1@S@With its recently revised guidelines for RICO, Justice makes it clear that the law currently holds too many incentives for abuse by prosecutors.@@@@1@23@@oe@2-2-2013
21149004@unknown@formal@none@1@S@The text of the "new policy" guidelines from the Criminal Division are reprinted nearby.@@@@1@14@@oe@2-2-2013
21149005@unknown@formal@none@1@S@They strongly suggest that Justice's prosecutions of Drexel Burnham Lambert, Michael Milken and Princeton/Newport violated notions of fundamental fairness.@@@@1@19@@oe@2-2-2013
21149006@unknown@formal@none@1@S@Justice is attempting to avoid a replay of these tactics.@@@@1@10@@oe@2-2-2013
21149007@unknown@formal@none@1@S@This amounts to an extraordinary repudiation of the tenure of New York mayoral candidate and former U.S. Attorney Rudolph Giuliani, who was more inclined to gathering scalps than understanding markets.@@@@1@30@@oe@2-2-2013
21149008@unknown@formal@none@1@S@The new guidelines limit the pretrial forfeitures of assets of RICOed defendants and their investors, clients, bankers and others.@@@@1@19@@oe@2-2-2013
21149009@unknown@formal@none@1@S@This follows earlier new guidelines from the Tax Division prohibiting Princeton/Newport-like tax cases from masquerading as RICO cases.@@@@1@18@@oe@2-2-2013
21149010@unknown@formal@none@1@S@The forfeiture memo cited "considerable criticism in the press, because of a perception that pre-trial freezing of assets is tantamount to a seizure of property without due process."@@@@1@28@@oe@2-2-2013
21149011@unknown@formal@none@1@S@It told prosecutors not to seek forfeitures if there are "less intrusive" alternatives, such as bonds, and in any case not to seek forfeitures "disproportionate to the defendant's crime."@@@@1@29@@oe@2-2-2013
21149012@unknown@formal@none@1@S@These changes come a tad late for Princeton/Newport, the first RICOed securities firm.@@@@1@13@@oe@2-2-2013
21149013@unknown@formal@none@1@S@It was forced into liquidation before trial when investors yanked their funds after the government demanded a huge pre-trial asset forfeiture.@@@@1@21@@oe@2-2-2013
21149014@unknown@formal@none@1@S@Princeton/Newport investors, including McKinsey & Co. and the Harvard endowment, made the rational decision to withdraw their money; for the firm, the liquidation was sentence first, verdict later.@@@@1@28@@oe@2-2-2013
21149015@unknown@formal@none@1@S@Prosecutors wanted $23.8 million in forfeiture for alleged tax fraud of some $400,000.@@@@1@13@@oe@2-2-2013
21149016@unknown@formal@none@1@S@The experience of Princeton/Newport and initiation of other RICO-forfeiture cases against legitimate businesses taught Drexel that a RICOed investment bank would be an ex-investment bank.@@@@1@25@@oe@2-2-2013
21149017@unknown@formal@none@1@S@Drexel therefore agreed instead to an arrangement allowing it to plea to charges "which the company is not in a position to dispute" because of RICO.@@@@1@26@@oe@2-2-2013
21149018@unknown@formal@none@1@S@Part of Drexel's plea was to cut Mr. Milken loose.@@@@1@10@@oe@2-2-2013
21149019@unknown@formal@none@1@S@So after all the prosecutorial hoopla no one has established what, if anything, Drexel did wrong.@@@@1@16@@oe@2-2-2013
21149020@unknown@formal@none@1@S@So two cheers for the new rules.@@@@1@7@@oe@2-2-2013
21149021@unknown@formal@none@1@S@Justice has finally recognized its employees' abuses, thanks largely to the demands for reform by former U.S. attorney in Washington Joseph diGenova, who wants to salvage RICO for real criminals.@@@@1@30@@oe@2-2-2013
21149022@unknown@formal@none@1@S@But prosecutorial guidelines are effective only if someone at Justice is willing and able to supervise hyperactive prosecutors.@@@@1@18@@oe@2-2-2013
21149023@unknown@formal@none@1@S@Judge Sentelle, of the appeals court in Washington, made this point at a Cato Institute conference last week in a remarkable speech titled, "RICO: The Monster That Ate Jurisprudence."@@@@1@29@@oe@2-2-2013
21149024@unknown@formal@none@1@S@He said ours is supposed to be "a government of laws not of men," and yet RICO defenders "tell us that we should rely on prosecutorial discretion to protect against overbreadth of RICO."@@@@1@33@@oe@2-2-2013
21149025@unknown@formal@none@1@S@No prosecutorial guidelines, observed or unobserved, limit civil RICO cases by plaintiffs for damages.@@@@1@14@@oe@2-2-2013
21149026@unknown@formal@none@1@S@What now for Princeton/Newport officials, Drexel and Mr. Milken?@@@@1@9@@oe@2-2-2013
21149027@unknown@formal@none@1@S@Justice should review these cases to see what other prosecutorial abuses may have occurred.@@@@1@14@@oe@2-2-2013
21149028@unknown@formal@none@1@S@We suspect that Justice will some day agree that only the complete repeal of RICO can guarantee an end to injustices in its name.@@@@1@24@@oe@2-2-2013
21150001@unknown@formal@none@1@S@"The Famous Teddy Z," which CBS Inc. had hoped would emerge as one of the few bright spots in its otherwise lackluster prime-time schedule, isn't turning out to be the hit the network envisaged.@@@@1@34@@oe@2-2-2013
21150002@unknown@formal@none@1@S@Although the half-hour situation comedy seen Mondays at 9:30 p.m. Eastern and Pacific time isn't a candidate for cancellation, it is slated for fine-tuning and by next week the network may announce "Teddy Z" is moving to 8:30 p.m. from its 9:30 time slot, replacing "The People Next Door," which became the first network show to be canceled this season.@@@@1@60@@oe@2-2-2013
21150003@unknown@formal@none@1@S@"Teddy Z," which centers on a mailroom clerk-turned agent at a Hollywood talent agency, was scheduled in the coveted 9:30 p.m. slot to follow "Murphy Brown," a situation comedy about a television news magazine, starring Candice Bergen.@@@@1@37@@oe@2-2-2013
21150004@unknown@formal@none@1@S@"Teddy Z" was boosted by favorable reviews and a network-wide promotional tie-in contest with K mart Corp.@@@@1@17@@oe@2-2-2013
21150005@unknown@formal@none@1@S@It was promoted on cable services, including MTV, Nick at Night and VH-1, and premiered as the No. 22-rated show for the week.@@@@1@23@@oe@2-2-2013
21150006@unknown@formal@none@1@S@But five weeks after the premiere, the series has floundered.@@@@1@10@@oe@2-2-2013
21150007@unknown@formal@none@1@S@In figures released yesterday by A.C. Nielsen Co. "Teddy Z," produced by the television unit of Columbia Pictures Entertainment Inc., was in 37th place.@@@@1@24@@oe@2-2-2013
21150008@unknown@formal@none@1@S@Worse, every week it suffers audience drop-off from "Murphy Brown" and viewership on CBS picks up again once "Teddy Z" is over and is followed by "Designing Women."@@@@1@28@@oe@2-2-2013
21150009@unknown@formal@none@1@S@"There is strong indication that `Teddy Z' is not compatible with the shows it is surrounding," said John Sisk, senior vice president at J. Walter Thompson Co., a unit of WPP Group PLC.@@@@1@33@@oe@2-2-2013
21150010@unknown@formal@none@1@S@Last week, "Murphy Brown" was viewed by 14.1% of the available television households, while the number dropped to 12.6% for "Teddy Z" and rose to 14.2% for "Designing Women."@@@@1@29@@oe@2-2-2013
21150011@unknown@formal@none@1@S@CBS executives said the program is also slated to undergo some plot changes.@@@@1@13@@oe@2-2-2013
21150012@unknown@formal@none@1@S@Creator Hugh Wilson, for example, included the lead character's Greek family in the cast, "but that is not the right focus anymore," said one CBS executive.@@@@1@26@@oe@2-2-2013
21150013@unknown@formal@none@1@S@Instead, CBS hopes the show will increasingly highlight the talent agency and the business of being an agent.@@@@1@18@@oe@2-2-2013
21150014@unknown@formal@none@1@S@"We're making adjustments on the show, yes, but nothing radical," said Craig Nelson, the story consultant on "Teddy Z."@@@@1@19@@oe@2-2-2013
21150015@unknown@formal@none@1@S@"But we hope to keep a balance between the office and the family."@@@@1@13@@oe@2-2-2013
21150016@unknown@formal@none@1@S@The opening credits are being redone, Mr. Nelson said, "to make Teddy's situation clear to viewers who have not been with us since the beginning.@@@@1@25@@oe@2-2-2013
21150017@unknown@formal@none@1@S@Those viewers find the show confusing.@@@@1@6@@oe@2-2-2013
21151001@unknown@formal@none@1@S@The stock market's woes spooked currency traders but prompted a quiet little party among bond investors.@@@@1@16@@oe@2-2-2013
21151002@unknown@formal@none@1@S@Prices of long-term Treasury bonds moved inversely to the stock market as investors sought safety amid growing evidence the economy is weakening.@@@@1@22@@oe@2-2-2013
21151003@unknown@formal@none@1@S@But the shaky economic outlook and the volatile stock market forced the dollar lower against major currencies.@@@@1@17@@oe@2-2-2013
21151004@unknown@formal@none@1@S@The bond market got an early boost from the opening-hour sell-off in stocks.@@@@1@13@@oe@2-2-2013
21151005@unknown@formal@none@1@S@That rout was triggered by UAL Corp.'s announcement late Monday that the proposed management-labor buy-out had collapsed.@@@@1@17@@oe@2-2-2013
21151006@unknown@formal@none@1@S@The 80-point decline in the Dow Jones Industrial Average during the morning trading session touched off a flight to safety that saw investors shifting assets from stocks to Treasury bonds.@@@@1@30@@oe@2-2-2013
21151007@unknown@formal@none@1@S@At its strongest, the Treasury's benchmark 30-year bond rose more than a point, or more than $10 for each $1,000 face amount.@@@@1@22@@oe@2-2-2013
21151008@unknown@formal@none@1@S@As the stock market recovered some of its losses later in the day, bond prices retreated.@@@@1@16@@oe@2-2-2013
21151009@unknown@formal@none@1@S@But analysts said the combination of a second consecutive decline in monthly durable-goods orders and lackluster mid-October auto sales helped prop up the Treasury market.@@@@1@25@@oe@2-2-2013
21151010@unknown@formal@none@1@S@A slowing economy and the implication of lower inflation and interest rates tend to bolster bond prices.@@@@1@17@@oe@2-2-2013
21151011@unknown@formal@none@1@S@On the surface, the decline in September durable goods -- only 0.1% -- didn't appear very weak.@@@@1@17@@oe@2-2-2013
21151012@unknown@formal@none@1@S@But orders for non-defense capital goods, a precursor of future plant and equipment spending, were off 5.6% after falling 10.3% in August.@@@@1@22@@oe@2-2-2013
21151013@unknown@formal@none@1@S@Auto makers reported that mid-October sales were running at an annual rate of about 5.8 million units, far less than the 6.6 million units analysts had expected.@@@@1@27@@oe@2-2-2013
21151014@unknown@formal@none@1@S@Taken together, the auto-sales and durable-goods reports confirmed perceptions that the economy is bogging down.@@@@1@15@@oe@2-2-2013
21151015@unknown@formal@none@1@S@Although analysts don't expect the Federal Reserve to ease credit policy soon, reports like those yesterday help build the case for lower rates.@@@@1@23@@oe@2-2-2013
21151016@unknown@formal@none@1@S@Now bond investors are looking toward next week's report from national purchasing managers and the government's October employment report as potentially prompting the Fed to lower rates.@@@@1@27@@oe@2-2-2013
21151017@unknown@formal@none@1@S@The stock market's precipitous drop frightened foreign investors, who quickly bid the dollar lower.@@@@1@14@@oe@2-2-2013
21151018@unknown@formal@none@1@S@But as stock prices recovered some of the early losses, so did the U.S. currency.@@@@1@15@@oe@2-2-2013
21151019@unknown@formal@none@1@S@Although dealers said investors are becoming more bearish toward the dollar in the wake of the stock market's recent troubles and as the U.S. economy weakens, the dollar ended down only modestly.@@@@1@32@@oe@2-2-2013
21151020@unknown@formal@none@1@S@In major market activity: Bond prices rose.@@@@1@7@@oe@2-2-2013
21151021@unknown@formal@none@1@S@The Treasury's benchmark 30-year bond gained nearly half a point, or about $5 for each $1,000 face amount.@@@@1@18@@oe@2-2-2013
21151022@unknown@formal@none@1@S@The yield on the issue slipped to 7.89%.@@@@1@8@@oe@2-2-2013
21151023@unknown@formal@none@1@S@The dollar retreated.@@@@1@3@@oe@2-2-2013
21151024@unknown@formal@none@1@S@In late New York trading the currency was quoted at 1.8355 marks and 141.45 yen, compared with 1.8470 marks and 141.90 yen Monday.@@@@1@23@@oe@2-2-2013
21152001@unknown@formal@none@1@S@"Lifestyles of the Rich and Famous" may be visiting some new venues in the near future.@@@@1@16@@oe@2-2-2013
21152002@unknown@formal@none@1@S@Judge Robert ("Maximum Bob") Potter sentenced Jim Bakker to 45 years in the big house yesterday, while a Beverly Hills judge tucked away Zsa Zsa Gabor for three days, plus 120 hours of work with homeless women.@@@@1@37@@oe@2-2-2013
21152003@unknown@formal@none@1@S@Miss Gabor recanted her earlier-expressed fear of jailhouse lesbians.@@@@1@9@@oe@2-2-2013
21152004@unknown@formal@none@1@S@Mr. Bakker said he was guilty of sin but not fraud.@@@@1@11@@oe@2-2-2013
21152005@unknown@formal@none@1@S@We can only wonder who will be the next lost soul chosen to be America's Celebrity Convict.@@@@1@17@@oe@2-2-2013
21153001@unknown@formal@none@1@S@Boeing Co. said Trans European Airways ordered a dozen 737 jetliners valued at a total of about $450 million.@@@@1@19@@oe@2-2-2013
21153002@unknown@formal@none@1@S@The 300 and 400 series aircraft will be powered by engines jointly produced by General Electric Co. and Snecma of France.@@@@1@21@@oe@2-2-2013
21153003@unknown@formal@none@1@S@Currently, Boeing has a backlog of about $80 billion, but production has been slowed by a strike of 55,000 machinists, which entered its 22nd day today.@@@@1@26@@oe@2-2-2013
21153004@unknown@formal@none@1@S@Last week, a mediator failed to rekindle talks between the company and the strikers, who have rejected a pay raise offer of 10% over three years.@@@@1@26@@oe@2-2-2013
21154001@unknown@formal@none@1@S@When the good fairy assigned to Slovakia hovered over the cradle of Edita Gruberova many years ago in Bratislava, she sprinkled her with high E flats, sparkling Ds, clean trills, and coloratura ornaments silvery as magic dust.@@@@1@37@@oe@2-2-2013
21154002@unknown@formal@none@1@S@Maybe she could drop by at the Metropolitan Opera and bring along what she forgot, a little charm, a few smidgins of thespian skills and a nice wig.@@@@1@28@@oe@2-2-2013
21154003@unknown@formal@none@1@S@Cast as Violetta Valery in a new production of Verdi's "La Traviata," Ms. Gruberova last week did many things nicely and others not so well.@@@@1@25@@oe@2-2-2013
21154004@unknown@formal@none@1@S@It isn't every day that we hear a Violetta who can sing the first act's high-flying music with all the little notes perfectly pitched and neatly stitched together.@@@@1@28@@oe@2-2-2013
21154005@unknown@formal@none@1@S@Never once did she gasp for air or mop her brow.@@@@1@11@@oe@2-2-2013
21154006@unknown@formal@none@1@S@She was as cool as a cucumber.@@@@1@7@@oe@2-2-2013
21154007@unknown@formal@none@1@S@But as you may know, things are not going well for Violetta.@@@@1@12@@oe@2-2-2013
21154008@unknown@formal@none@1@S@There are times when she must show a little emotion.@@@@1@10@@oe@2-2-2013
21154009@unknown@formal@none@1@S@She has TB, after all, and a weak-kneed lover; and though a successful courtesan, she is just about overdrawn at the bank.@@@@1@22@@oe@2-2-2013
21154010@unknown@formal@none@1@S@Worse, her walls move all the time -- at least in this production.@@@@1@13@@oe@2-2-2013
21154011@unknown@formal@none@1@S@Just when Ms. Gruberova sat down away from her guests to cough in private, her salon began sliding around the stage; her country hideaway also has a very active set of drapes.@@@@1@32@@oe@2-2-2013
21154012@unknown@formal@none@1@S@Hold on to those funny braids! you wanted to caution her as the sets started to roll around once more.@@@@1@20@@oe@2-2-2013
21154013@unknown@formal@none@1@S@This is the most moving "Traviata" I've ever seen.@@@@1@9@@oe@2-2-2013
21154014@unknown@formal@none@1@S@Normally, Violetta can go about her business without wondering whether she is moving as gracefully as the scenery.@@@@1@18@@oe@2-2-2013
21154015@unknown@formal@none@1@S@But this is a production designed and directed by Franco Zeffirelli and paid for by Sybil Harrington, who has no need to count her pennies, unlike Violetta, down to 20 louis at the opera's end.@@@@1@35@@oe@2-2-2013
21154016@unknown@formal@none@1@S@Seeing all those millions in action, I was just so relieved that Ms. Gruberova, gawky thing that she is, didn't accidentally smother herself in a drape.@@@@1@26@@oe@2-2-2013
21154017@unknown@formal@none@1@S@Large and lavish, "Traviata" is another addition to the Met's growing stock of cast-proof productions mostly by Mr. Zeffirelli.@@@@1@19@@oe@2-2-2013
21154018@unknown@formal@none@1@S@They have a life of their own and can be counted on to look good and perform whenever a cast isn't up to either.@@@@1@24@@oe@2-2-2013
21154019@unknown@formal@none@1@S@If a strike ever hits the Met, the company can still sell tickets to his "Boheme" and "Turandot" and boom out recordings (of another era).@@@@1@25@@oe@2-2-2013
21154020@unknown@formal@none@1@S@Last week's discerning audience gave a bigger hand to a greenhouse than to the tenor Neil Shicoff, who sang an aria inside it.@@@@1@23@@oe@2-2-2013
21154021@unknown@formal@none@1@S@Inexplicably costumed as a rabbinical student, tottering around on lifts, Mr. Shicoff hardly seemed the fellow to catch a fancy cocotte's eye.@@@@1@22@@oe@2-2-2013
21154022@unknown@formal@none@1@S@I wish he could wear lifts in his voice.@@@@1@9@@oe@2-2-2013
21154023@unknown@formal@none@1@S@Not nearly in his best form, the tenor made dullish sounds along with his usual clumsy hand gestures.@@@@1@18@@oe@2-2-2013
21154024@unknown@formal@none@1@S@Maybe Mr. Z. was too busy taming his set to work with his naturally ungainly Alfredo.@@@@1@16@@oe@2-2-2013
21154025@unknown@formal@none@1@S@Or is it that Mr. Z. is getting a little tired of "Traviata"?@@@@1@13@@oe@2-2-2013
21154026@unknown@formal@none@1@S@This is the same production already seen in Paris and Florence, and its scenic ideas echo the movie he made with Placido Domingo and Teresa Stratas.@@@@1@26@@oe@2-2-2013
21154027@unknown@formal@none@1@S@Decades earlier, Maria Callas sang the Dallas staging that introduced the flashback idea.@@@@1@13@@oe@2-2-2013
21154028@unknown@formal@none@1@S@In an invention that drives Verdi purists bananas, Violetta lies dying in bed during the prelude, rising deliriously when then she remembers the great parties she used to throw.@@@@1@29@@oe@2-2-2013
21154029@unknown@formal@none@1@S@The entire opera is her dream.@@@@1@6@@oe@2-2-2013
21154030@unknown@formal@none@1@S@Given the prelude's thematic connections with the music preceding the last act, the idea is more worn than bad, though as luck would have it, for a change there actually was a conductor in the pit whom we wanted to hear, Carlos Kleiber, trying to make memorable music while we all waited for the bed lump to stir into song.@@@@1@60@@oe@2-2-2013
21154031@unknown@formal@none@1@S@Once she did so, the big-souled German maestro with the shaky nerves who so often cancels offered a limpid, flowing performance that in its unswagged and unswaggering approach was totally at odds with the staging.@@@@1@35@@oe@2-2-2013
21154032@unknown@formal@none@1@S@Of heart-pounding moments there were nearly none, and whether this has to do with Mr. Kleiber or the wooden cast is hard to say.@@@@1@24@@oe@2-2-2013
21154033@unknown@formal@none@1@S@In any event, Ms. Gruberova barely ventilated Violetta's anguish in her long meeting with Wolfgang Brendel, who as Germont seemed fairly desperate trying to inject an Italianate lilt into his heavy, teutonic baritone.@@@@1@33@@oe@2-2-2013
21154034@unknown@formal@none@1@S@"Di Provenza" wasn't much of an advertisement for sunny, southern France.@@@@1@11@@oe@2-2-2013
21154035@unknown@formal@none@1@S@Perhaps Mr. Kleiber could let him substitute one of the songs about dead children and dark nights from Mahler's "Kindertotenlieder."@@@@1@20@@oe@2-2-2013
21154036@unknown@formal@none@1@S@Speaking of dark nights, the Met's next-door neighbor, the New York City Opera, has canceled its season after failing to reach a settlement with its musicians, who wanted pay parity with the the Chicago Lyric and San Francisco Opera orchestras.@@@@1@40@@oe@2-2-2013
21154037@unknown@formal@none@1@S@Well, they can now go and audition there.@@@@1@8@@oe@2-2-2013
21154038@unknown@formal@none@1@S@Good luck.@@@@1@2@@oe@2-2-2013
21154039@unknown@formal@none@1@S@Common sense suggests that people who play for a company that charges about half what those houses do for a ticket are not in the same market.@@@@1@27@@oe@2-2-2013
21154040@unknown@formal@none@1@S@The cancellation bodes poorly for a company already beset with an identity crisis exacerbated by the retirement of general director Beverly Sills and the amazing appointment of Christopher Keene as her successor after his years of feckless toiling in the pit.@@@@1@41@@oe@2-2-2013
21154041@unknown@formal@none@1@S@As the Met discovered years ago following a belated December opening, it is nearly impossible to recapture subscribers once they have had time to ponder their entertainment choices.@@@@1@28@@oe@2-2-2013
21154042@unknown@formal@none@1@S@I, for instance, was perfectly happy at Avery Fisher Hall the other day listening to Helmuth Rilling conduct the Messa per Rossini, a strange piece written by 13 different Italian composers to honor Rossini after his death in 1868.@@@@1@39@@oe@2-2-2013
21154043@unknown@formal@none@1@S@Each of them contributed a section at the behest of Verdi, who was nearly driven to his own early grave by the troublesome arrangements.@@@@1@24@@oe@2-2-2013
21154044@unknown@formal@none@1@S@For all that, the piece landed unperformed in a dusty archive after Bologna refused to supply a chorus and orchestra.@@@@1@20@@oe@2-2-2013
21154045@unknown@formal@none@1@S@We know Verdi's own contribution was mighty impressive since the operatic "Libera me" was reworked for the Manzoni Requiem, of which he wrote every note himself having learned his lesson.@@@@1@30@@oe@2-2-2013
21154046@unknown@formal@none@1@S@The surprising discovery of the evening at Fisher was the high standard achieved by some of his now-obscure colleagues, notably Raimondo Boucheron.@@@@1@22@@oe@2-2-2013
21154047@unknown@formal@none@1@S@His melodious "Confutatis" was smoothly sung by bass Brian Matthews.@@@@1@10@@oe@2-2-2013
21154048@unknown@formal@none@1@S@Also, Teodulo Mabellini's "Lux aeterna" was intriguingly scored and splendidly put across by Mr. Rilling.@@@@1@15@@oe@2-2-2013
21154049@unknown@formal@none@1@S@He brought along his Stuttgart-based Gaechinger Kantorei chorus, and even better, the Czech soprano Gabriela Benackova.@@@@1@16@@oe@2-2-2013
21154050@unknown@formal@none@1@S@She was in her most radiant, expressive voice.@@@@1@8@@oe@2-2-2013
21154051@unknown@formal@none@1@S@Maybe she could step across the plaza to the Met -- where she has still to make her debut -- and help out her Czech compatriot by singing the slow parts of "Traviata."@@@@1@33@@oe@2-2-2013
21154052@unknown@formal@none@1@S@The Tokyo International Film Festival was no match for the Cannes Film Festival in terms of prestige, but it made its mark: It awarded the largest cash prize of any film festival to young and first-time film makers.@@@@1@38@@oe@2-2-2013
21154053@unknown@formal@none@1@S@At this year's event, the third since the festival got under way in 1985, Idrissa Ouedraogo of Burkina Faso won the Sakura Gold prize of $143,000 for "Yaaba" ("Old Woman").@@@@1@30@@oe@2-2-2013
21154054@unknown@formal@none@1@S@By comparison, Cannes now gives $39,000 to the winner of its young director's award.@@@@1@14@@oe@2-2-2013
21154055@unknown@formal@none@1@S@Says director George Miller ("Mad Max"): "I think the Tokyo festival may become known as a major attraction for young directors because of the money as well as the recognition."@@@@1@30@@oe@2-2-2013
21154056@unknown@formal@none@1@S@There are drawbacks.@@@@1@3@@oe@2-2-2013
21154057@unknown@formal@none@1@S@Vincent Tolentino, a correspondent for the French magazine Telerama, says of the recently ended Tokyo festival: "No one makes deals . . . and most of the films have been seen before at other festivals."@@@@1@35@@oe@2-2-2013
21154058@unknown@formal@none@1@S@Belgium decided that investors who demand the delivery of their securities when they buy shares or domestic bonds will have to pay an additional 100 Belgian francs (about $2.60) for each transaction, bringing the total fee to 200 francs.@@@@1@39@@oe@2-2-2013
21154059@unknown@formal@none@1@S@While no figures exist, it is thought that many small investors in Belgium store securities privately, in some cases to avoid paying high inheritance taxes.@@@@1@25@@oe@2-2-2013
21154060@unknown@formal@none@1@S@The law could redound to the advantage of brokers and banks, who incur high administrative costs to deliver securities to investors.@@@@1@21@@oe@2-2-2013
21154061@unknown@formal@none@1@S@Japan is considering giving aid to Hungary and Poland to support their recent political reforms, a spokesman for the Foreign Ministry said.@@@@1@22@@oe@2-2-2013
21154062@unknown@formal@none@1@S@"This is the first time, if we decide to do so, for Japan to extend aid of this kind to Eastern European countries," the spokesman said.@@@@1@26@@oe@2-2-2013
21154063@unknown@formal@none@1@S@He said Prime Minister Toshiki Kaifu also is studying the possibility of a visit to the two Eastern bloc nations and to Western Europe next January.@@@@1@26@@oe@2-2-2013
21154064@unknown@formal@none@1@S@Drugs were a major issue in two days of talks between French President Francois Mitterrand and Spanish Prime Minister Felipe Gonzalez.@@@@1@21@@oe@2-2-2013
21154065@unknown@formal@none@1@S@"I demand the utmost severity in the fight against drug traffickers," President Mitterrand said after the meeting in Valladolid, Spain.@@@@1@20@@oe@2-2-2013
21154066@unknown@formal@none@1@S@He added: "Banks must open their books."@@@@1@7@@oe@2-2-2013
21154067@unknown@formal@none@1@S@The leaders' talks coincided with a meeting in Madrid of anti-drug experts from the U.S., France, Italy, Spain, Peru, Bolivia and Colombia.@@@@1@22@@oe@2-2-2013
21154068@unknown@formal@none@1@S@That conference, which began yesterday, was expected to cover such matters as police training and extradition agreements, Spanish officials said.@@@@1@20@@oe@2-2-2013
21154069@unknown@formal@none@1@S@Three Soviet government officials -- the ministers of railroads, of foreign economic relations and of heavy-machine building -- will visit Tehran next month for talks, Iran's official news agency reported.@@@@1@30@@oe@2-2-2013
21154070@unknown@formal@none@1@S@Under an agreement signed last June, the Soviets will help Iran in oil exploration and other areas in return for exports of Iranian natural gas.@@@@1@25@@oe@2-2-2013
21154071@unknown@formal@none@1@S@And in Paris, Mahmoud Vaezi, Iran's vice minister of foreign affairs, began a five-day visit to discuss such matters as compensation to French enterprises for contracts broken by the Khomeini regime.@@@@1@31@@oe@2-2-2013
21154072@unknown@formal@none@1@S@Toto Co., a Japanese ceramics maker, has developed a toilet that can check the user's health.@@@@1@16@@oe@2-2-2013
21154073@unknown@formal@none@1@S@A Toto spokesman said the toilet not only tests blood pressure, pulse and urine, it also stores the data for up to 130 days.@@@@1@24@@oe@2-2-2013
21154074@unknown@formal@none@1@S@Nippon Telegraph & Telephone Corp. and Omron Tateisi Electronics are involved with Toto's new product, which will go on the market in about two years time.@@@@1@26@@oe@2-2-2013
21154075@unknown@formal@none@1@S@"It will be very expensive," the spokesman warned.@@@@1@8@@oe@2-2-2013
21154076@unknown@formal@none@1@S@"The price cannot be less than $7,000."@@@@1@7@@oe@2-2-2013
21154077@unknown@formal@none@1@S@Since Mexican President Carlos Salinas de Gortari took office last December, special agents have arrested more than 6,000 federal employees on charges ranging from extortion to tax evasion.@@@@1@28@@oe@2-2-2013
21154078@unknown@formal@none@1@S@Hector Castaneda Jimenez, chief prosecutor at the Attorney General's Office, said that an estimated $82.8 million in government property and unpaid taxes have been recovered in the campaign to root out official corruption.@@@@1@33@@oe@2-2-2013
21154079@unknown@formal@none@1@S@Mr. Castaneda's office will reportedly issue warrants during the next six months for the arrest of another 10,000 federal employees.@@@@1@20@@oe@2-2-2013
21154080@unknown@formal@none@1@S@Those employees are suspected of illegally gaining an estimated $376.8 million, the prosecutor was quoted as saying by the Excelsior news service.@@@@1@22@@oe@2-2-2013
21154081@unknown@formal@none@1@S@He added that federal agents hope to recover at least half that amount.@@@@1@13@@oe@2-2-2013
21154082@unknown@formal@none@1@S@"The rest will probably not be recoverable either because the statute of limitations expired or because many prefer to spend additional time in jail rather than return the money," the prosecutor said.@@@@1@32@@oe@2-2-2013
21154083@unknown@formal@none@1@S@The United Nations, which is distributing farm tools to returning refugees in Namibia, is rethinking a plan to hand out machetes because of the tense political climate during preparations for independence from South Africa.@@@@1@34@@oe@2-2-2013
21154084@unknown@formal@none@1@S@"The decision to distribute machetes at this time, which could be used as weapons, is under review," said a U.N. spokesman. . . .@@@@1@24@@oe@2-2-2013
21154085@unknown@formal@none@1@S@Sources close to the family of Pakistani Prime Minister Benazir Bhutto said she is expecting a second child, probably early next year.@@@@1@22@@oe@2-2-2013
21155001@unknown@formal@none@1@S@Cray Research Inc. forecast that 1990 will be a no-growth year for its supercomputer line.@@@@1@15@@oe@2-2-2013
21155002@unknown@formal@none@1@S@In what has become a series of bad-news announcements, the world's largest maker of supercomputers said that after reviewing its order prospects, "we have concluded it is prudent to plan for next year on the assumption that revenue again will be flat."@@@@1@42@@oe@2-2-2013
21155003@unknown@formal@none@1@S@Cray jolted the market in July when it slashed revenue and earnings projections for this year, citing a slowing economy that has delayed orders from government as well as commercial customers.@@@@1@31@@oe@2-2-2013
21155004@unknown@formal@none@1@S@The company made its 1990 projection -- an unusual event for Cray -- in announcing improved net income for the third quarter.@@@@1@22@@oe@2-2-2013
21155005@unknown@formal@none@1@S@Cray said it earned $30.6 million, or $1.04 a share, up 35% from $22.6 million, or 73 cents a share, a year ago.@@@@1@23@@oe@2-2-2013
21155006@unknown@formal@none@1@S@Revenue gained 45% to $210.2 million from $145.2 million.@@@@1@9@@oe@2-2-2013
21155007@unknown@formal@none@1@S@For the nine months, earnings totaled $36.6 million, or $1.24 a share, down 46% from $68.1 million, or $2.19 a share, a year earlier.@@@@1@24@@oe@2-2-2013
21155008@unknown@formal@none@1@S@Revenue was $454.6 million, a 6.9% gain from $425.4 million.@@@@1@10@@oe@2-2-2013
21155009@unknown@formal@none@1@S@Cray made its announcement after the stock market closed.@@@@1@9@@oe@2-2-2013
21155010@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Cray closed down $1.125 at $34.25.@@@@1@14@@oe@2-2-2013
21155011@unknown@formal@none@1@S@Cray said its order backlog at Sept. 30 was $315 million, down $25 million from June 30.@@@@1@17@@oe@2-2-2013
21155012@unknown@formal@none@1@S@Marcello Gumucio, president, said the company "did well in the quarter as far as revenues and earnings are concerned, and not quite as well in terms of signing orders."@@@@1@29@@oe@2-2-2013
21155013@unknown@formal@none@1@S@As for the current period, Mr. Gumucio said, "We anticipate that fourth-quarter revenue and earnings will be substantially greater than any of the preceding three quarters, but not up to the record levels of last year's fourth quarter" when Cray earned $88.5 million, or $2.80 a share.@@@@1@47@@oe@2-2-2013
21155014@unknown@formal@none@1@S@He added that the company expects "strong" operating profit for the year, "but at a level significantly lower than last year."@@@@1@21@@oe@2-2-2013
21155015@unknown@formal@none@1@S@He said 1989's net income could be 11% to 13% of revenue, which, assuming current expectations, would be 40% to 45% below 1988's level.@@@@1@24@@oe@2-2-2013
21155016@unknown@formal@none@1@S@Last year, Cray earned $156.6 million, or $4.99 a share, on revenue of $756.3 million.@@@@1@15@@oe@2-2-2013
21155017@unknown@formal@none@1@S@Next year "looks dismal," said analyst Paul Luber of Robert Baird & Co., Milwaukee.@@@@1@14@@oe@2-2-2013
21155018@unknown@formal@none@1@S@Noting that Cray doesn't have a low-end supercomputer to compete with the likes of Convex Computer Corp. and International Business Machines Corp., Mr. Luber said such a machine would be necessary "to get things back on line here."@@@@1@38@@oe@2-2-2013
21155019@unknown@formal@none@1@S@Cray has indicated it will decide on whether to build such a machine before year end.@@@@1@16@@oe@2-2-2013
21156001@unknown@formal@none@1@S@Johnson & Johnson reported a 10% rise in third-quarter net income on a 12% sales increase-results that were driven particularly by new products including pharmaceuticals and the company's professional operations.@@@@1@30@@oe@2-2-2013
21156002@unknown@formal@none@1@S@Net for the New Brunswick, N.J., maker of health-care products climbed to $265 million, or 80 cents a share, from $240 million, or 71 cents a share, in the year-earlier period.@@@@1@31@@oe@2-2-2013
21156003@unknown@formal@none@1@S@Sales rose to $2.45 billion from $2.2 billion.@@@@1@8@@oe@2-2-2013
21156004@unknown@formal@none@1@S@The year-ago per-share earnings are adjusted to reflect a 2-for-1 stock split last May.@@@@1@14@@oe@2-2-2013
21156005@unknown@formal@none@1@S@In a statement, Ralph S. Larsen, chairman and chief executive officer, said the company was pleased with its third-quarter sales performance, "especially in light of the extremely competitive environment in domestic consumer markets and the negative impact of unfavorable exchange rates this quarter."@@@@1@43@@oe@2-2-2013
21156006@unknown@formal@none@1@S@David J. Lothson, an industry analyst for PaineWebber Group Inc., said Johnson & Johnson's results slightly exceeded his expectations for the third quarter.@@@@1@23@@oe@2-2-2013
21156007@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Johnson & Johnson shares fell 37.5 cents to $54.625.@@@@1@17@@oe@2-2-2013
21156008@unknown@formal@none@1@S@Mr. Larsen noted "substantial sales growth" for the recently introduced Acuvue disposable contact lens and Hismanal, a once-a-day antihistamine.@@@@1@19@@oe@2-2-2013
21156009@unknown@formal@none@1@S@Eprex, used by dialysis patients who are anemic, and Prepulsid, a gastro-intestinal drug, did well overseas, he said.@@@@1@18@@oe@2-2-2013
21156010@unknown@formal@none@1@S@Despite health-care cost controls and programs to hold down inventory, the professional division, which makes products including sutures and surgical stapling equipment, "achieved solid growth," Johnson & Johnson said.@@@@1@29@@oe@2-2-2013
21156011@unknown@formal@none@1@S@But domestic consumer sales slipped 1.2% for the quarter, to $490 million from $496 million.@@@@1@15@@oe@2-2-2013
21156012@unknown@formal@none@1@S@The company cited softness in the retail health and beauty aids category, "as well as the intense competition in the company's sanitary protection product line."@@@@1@25@@oe@2-2-2013
21156013@unknown@formal@none@1@S@Overseas sales were stronger, principally because of a rebound in Brazil, where economic turmoil had hurt year-earlier results, Johnson & Johnson said.@@@@1@22@@oe@2-2-2013
21156014@unknown@formal@none@1@S@Mr. Lothson of PaineWebber said the company's sales pace has been picking up largely because the effect of unfavorable exchange rates has been easing -- a pattern continuing this quarter.@@@@1@30@@oe@2-2-2013
21156015@unknown@formal@none@1@S@He cautioned, however, that a "tough tax-rate comparison" may slow the company's earnings growth for the current quarter.@@@@1@18@@oe@2-2-2013
21156016@unknown@formal@none@1@S@For last year's fourth quarter, the company's tax rate was less than 20%, he said.@@@@1@15@@oe@2-2-2013
21156017@unknown@formal@none@1@S@While the third period contained no major surprises, Mr. Lothson said, the results show how sensitive the multinationals can be to developments in a single country such as Brazil.@@@@1@29@@oe@2-2-2013
21156018@unknown@formal@none@1@S@He also questioned whether recent gains in that country can be sustained.@@@@1@12@@oe@2-2-2013
21156019@unknown@formal@none@1@S@The following issues were recently filed with the Securities and Exchange Commission:@@@@1@12@@oe@2-2-2013
21156020@unknown@formal@none@1@S@Bergen Brunswig Corp., proposed offering of liquid yield option notes, via Merrill Lynch Capital Markets.@@@@1@15@@oe@2-2-2013
21156021@unknown@formal@none@1@S@Columbia Gas System Inc., shelf offering of up to $200 million of debentures.@@@@1@13@@oe@2-2-2013
21156022@unknown@formal@none@1@S@Laserscope, initial offering of 1,656,870 common shares, of which 1,455,000 shares are to be sold by the company and 201,870 by holders, via Alex. Brown & Sons Inc. and Volpe, Covington & Welty.@@@@1@33@@oe@2-2-2013
21156023@unknown@formal@none@1@S@TeleVideo Systems Inc., proposed offering of 1,853,735 common shares, to be sold by holders.@@@@1@14@@oe@2-2-2013
21156024@unknown@formal@none@1@S@Western Gas System Inc., initial offering of 3,250,000 common shares, of which 3,040,000 shares will be sold by the company and 210,000 by a holder, via Prudential-Bache Capital Funding, Smith Barney, Harris Upham & Co. and Hanifen, Imhoff Inc.@@@@1@39@@oe@2-2-2013
21157001@unknown@formal@none@1@S@Insiders have been selling shares in Dun & Bradstreet Corp., the huge credit-information concern.@@@@1@14@@oe@2-2-2013
21157002@unknown@formal@none@1@S@Six top executives at the New York-based company sold shares in August and September.@@@@1@14@@oe@2-2-2013
21157003@unknown@formal@none@1@S@Four of those insiders sold more than half their holdings.@@@@1@10@@oe@2-2-2013
21157004@unknown@formal@none@1@S@The stock, in New York Stock Exchange composite trading yesterday, closed at $51.75, up 62.5 cents, well below the $56.13 to $60 a share the insiders received for their shares.@@@@1@30@@oe@2-2-2013
21157005@unknown@formal@none@1@S@Much of the recent slide in Dun & Bradstreet's stock came late last week, after negative comments by analysts at Merrill Lynch & Co. and Goldman, Sachs & Co.@@@@1@29@@oe@2-2-2013
21157006@unknown@formal@none@1@S@A company spokesman declined to comment and said that the officials who sold shares wouldn't comment.@@@@1@16@@oe@2-2-2013
21157007@unknown@formal@none@1@S@One of Dun & Bradstreet's chief businesses is compiling reports that rate the credit-worthiness of millions of American companies.@@@@1@19@@oe@2-2-2013
21157008@unknown@formal@none@1@S@It also owns Moody's Investors Service, which assigns credit-ratings to bonds and preferred stock; A.C. Nielsen, known for its data on television-viewing patterns, and Yellow-pages publisher Donnelley.@@@@1@27@@oe@2-2-2013
21157009@unknown@formal@none@1@S@Last March, this newspaper reported on widespread allegations that the company misled many customers into purchasing more credit-data services than needed.@@@@1@21@@oe@2-2-2013
21157010@unknown@formal@none@1@S@In June, the company agreed to settle for $18 million several lawsuits related to its sales practices, without admitting or denying the charges.@@@@1@23@@oe@2-2-2013
21157011@unknown@formal@none@1@S@An investigation by U.S. Postal inspectors is continuing.@@@@1@8@@oe@2-2-2013
21157012@unknown@formal@none@1@S@Among the insider sales, Charles Raikes, the firm's general counsel, sold 12,281 shares in August, representing 46% of his holdings in the company.@@@@1@23@@oe@2-2-2013
21157013@unknown@formal@none@1@S@He received $724,579 for the shares, according to insider filings with the Securities and Exchange Commission.@@@@1@16@@oe@2-2-2013
21157014@unknown@formal@none@1@S@John C. Holt, an executive vice president and Dun & Bradstreet director, sold 10,000 shares on Aug. 31 for $588,800, filings show.@@@@1@22@@oe@2-2-2013
21157015@unknown@formal@none@1@S@He retains 9,232 shares.@@@@1@4@@oe@2-2-2013
21157016@unknown@formal@none@1@S@William H.J. Buchanan, the firm's secretary and associate general counsel, sold 7,000 shares in two separate sales in September for $406,000.@@@@1@21@@oe@2-2-2013
21157017@unknown@formal@none@1@S@The shares represented 66% of his Dun & Bradstreet holdings, according to the company.@@@@1@14@@oe@2-2-2013
21157018@unknown@formal@none@1@S@The other insiders, all senior or executive vice presidents, sold between 2,520 and 6,881 shares, representing between 8% and 70% of their holdings, according to SEC filings.@@@@1@27@@oe@2-2-2013
21157019@unknown@formal@none@1@S@Dun & Bradstreet's stock price began its recent spiral downward last Wednesday, when the company reported third-quarter results.@@@@1@18@@oe@2-2-2013
21157020@unknown@formal@none@1@S@Net income rose to 83 cents a share from 72 cents a share the year-earlier period.@@@@1@16@@oe@2-2-2013
21157021@unknown@formal@none@1@S@But analysts focused more on the drop in revenue, to $1.04 billion from $1.07 billion, reflecting in part a continuing drop in sales of the controversial credit-reporting services.@@@@1@28@@oe@2-2-2013
21157022@unknown@formal@none@1@S@Last Thursday, Merrill Lynch securities analyst Peter Falco downgraded his investment rating on the firm, according to Dow Jones Professional Investors Report, citing a slowdown in the credit-reporting business.@@@@1@29@@oe@2-2-2013
21157023@unknown@formal@none@1@S@He cut his rating to a short-term hold from above-average performer and reduced his 1990 earnings estimate.@@@@1@17@@oe@2-2-2013
21157024@unknown@formal@none@1@S@Mr. Falco continues to rank the stock a longterm buy.@@@@1@10@@oe@2-2-2013
21157025@unknown@formal@none@1@S@The stock slid $1.875 on more than four times average daily volume.@@@@1@12@@oe@2-2-2013
21157026@unknown@formal@none@1@S@The stock received another blow on Friday, when Goldman Sachs analyst Eric Philo advised that investors with short-term horizons should avoid Dun & Bradstreet stock because it is unlikely to outperform the market.@@@@1@33@@oe@2-2-2013
21157027@unknown@formal@none@1@S@The stock fell 75 cents.@@@@1@5@@oe@2-2-2013
21157028@unknown@formal@none@1@S@Insider selling is not unusual at Dun & Bradstreet; in fact, the recent pace of selling is just about average for the company, according to figures compiled by Invest/Net, a North Miami, Fla., firm that specializes in tracking and analyzing SEC insider filings.@@@@1@43@@oe@2-2-2013
21157029@unknown@formal@none@1@S@But previous sales have often been sales of shares purchased through the exercise of stock options and sold six months later, as soon as allowed, said Robert Gabele, president of Invest/Net.@@@@1@31@@oe@2-2-2013
21157030@unknown@formal@none@1@S@The most recent sales don't appear to be option-related, he said.@@@@1@11@@oe@2-2-2013
21157031@unknown@formal@none@1@S@TASTY PROFITS:@@@@1@2@@oe@2-2-2013
21157032@unknown@formal@none@1@S@Michael A. Miles, chief executive officer of Philip Morris Cos.' Kraft General Foods unit, bought 6,000 shares of the company on Sept. 22 for $157 each.@@@@1@26@@oe@2-2-2013
21157033@unknown@formal@none@1@S@The $942,000 purchase raised his holdings to 74,000 shares.@@@@1@9@@oe@2-2-2013
21157034@unknown@formal@none@1@S@The stock split four-for-one on Oct. 10.@@@@1@7@@oe@2-2-2013
21157035@unknown@formal@none@1@S@Mr. Miles's newly purchased shares are now worth $1,068,000, based on Philip Morris's closing price of $44.50, up 62.5 cents, in composite trading on the New York Stock Exchange yesterday.@@@@1@30@@oe@2-2-2013
21157036@unknown@formal@none@1@S@A spokesman for Mr. Miles said he bought the shares because he felt they were "a good investment."@@@@1@18@@oe@2-2-2013
21157037@unknown@formal@none@1@S@The executive made his purchases shortly before being named to his current chief executive officer's position; formerly he was Kraft General Foods' chief operating officer.@@@@1@25@@oe@2-2-2013
21157038@unknown@formal@none@1@S@SHEDDING GLITTER:@@@@1@2@@oe@2-2-2013
21157039@unknown@formal@none@1@S@Two directors of Pegasus Gold Inc., a Spokane, Wash., precious-metals mining firm, sold most of their holdings in the company Aug. 31.@@@@1@22@@oe@2-2-2013
21157040@unknown@formal@none@1@S@John J. Crabb sold 4,500 shares for $11.13 each, leaving himself with a stake of 500 shares.@@@@1@17@@oe@2-2-2013
21157041@unknown@formal@none@1@S@He received $50,085.@@@@1@3@@oe@2-2-2013
21157042@unknown@formal@none@1@S@Peter Kutney sold 5,000 shares, all of his holdings, for $11.38 a share, or $56,900.@@@@1@15@@oe@2-2-2013
21157043@unknown@formal@none@1@S@Gary Straub, corporate counsel for the company, said the directors sold for "personal financial reasons."@@@@1@15@@oe@2-2-2013
21157044@unknown@formal@none@1@S@Both insiders declined to comment.@@@@1@5@@oe@2-2-2013
21157045@unknown@formal@none@1@S@On Wall Street, Merrill Lynch & Co. analyst Daniel A. Roling rates the stock "neutral" and Drexel Burnham Lambert Inc. lists it as a "buy."@@@@1@25@@oe@2-2-2013
21157046@unknown@formal@none@1@S@Pegasus Gold "has been on a lot of recommended lists as a junior growth company stepping into the big leagues," says Marty McNeill, metals analyst at Dominick & Dominick, a New York investment firm.@@@@1@34@@oe@2-2-2013
21157047@unknown@formal@none@1@S@"It's a good company, and growing; there's nothing that would warrant that it be sold."@@@@1@15@@oe@2-2-2013
21157048@unknown@formal@none@1@S@Yesterday, in composite trading on the American Stock Exchange, Pegasus closed at $10.125, up 12.5 cents.@@@@1@16@@oe@2-2-2013
21158001@unknown@formal@none@1@S@Medieval philosophers used to hold the sensible belief that it was more perfect to exist than not to exist, and that to exist as a matter of necessity was most perfect of all.@@@@1@33@@oe@2-2-2013
21158002@unknown@formal@none@1@S@Now, only God exists as a matter of absolute necessity; it is built into His nature.@@@@1@16@@oe@2-2-2013
21158003@unknown@formal@none@1@S@But since the time of Darwin, we humans could at least claim a sort of natural necessity for the existence of our species.@@@@1@23@@oe@2-2-2013
21158004@unknown@formal@none@1@S@Aren't we, after all, the inevitable culmination of that stately pageant called evolution?@@@@1@13@@oe@2-2-2013
21158005@unknown@formal@none@1@S@If mutation and natural selection slowly but surely give rise to more and more advanced forms of life, then it was only a matter of eons before splendid beings endowed with reason, self-awareness and taste shimmered onto the scene.@@@@1@39@@oe@2-2-2013
21158006@unknown@formal@none@1@S@Now along comes Stephen Jay Gould to dash this flattering illusion.@@@@1@11@@oe@2-2-2013
21158007@unknown@formal@none@1@S@His credentials are excellent for the task.@@@@1@7@@oe@2-2-2013
21158008@unknown@formal@none@1@S@Star lecturer at Harvard, author of numerous popular books on science, and scourge of the creationist lobby, Mr. Gould is perhaps the world's most eminent evolutionary theorist.@@@@1@27@@oe@2-2-2013
21158009@unknown@formal@none@1@S@Yet he puts quite a twist on the old story handed down from Darwin.@@@@1@14@@oe@2-2-2013
21158010@unknown@formal@none@1@S@For him, natural history is anything but a gradual, predictable march from primordial slime to human consciousness; it is a careening, chaotic affair in which the emergence of a featherless biped was a one-in-a-million shot.@@@@1@35@@oe@2-2-2013
21158011@unknown@formal@none@1@S@In "Wonderful Life: The Burgess Shale and the Nature of History" (Norton, 326 pages, $19.95), Mr. Gould makes his case for "the awesome improbability of human evolution."@@@@1@27@@oe@2-2-2013
21158012@unknown@formal@none@1@S@The argument turns on the discovery in 1909 of an amazing fossil quarry high in the Canadian Rockies called the Burgess Shale.@@@@1@22@@oe@2-2-2013
21158013@unknown@formal@none@1@S@Here, in an area smaller than a city block, lay buried traces of countless weird creatures that had frolicked more than 500 million years ago -- creatures whose anatomical variety far exceeded what can be found in all the world's oceans today.@@@@1@42@@oe@2-2-2013
21158014@unknown@formal@none@1@S@Such an embarrassment of riches was inconceivable to the man who discovered the Burgess Shale, one Charles Doolittle Walcott.@@@@1@19@@oe@2-2-2013
21158015@unknown@formal@none@1@S@The received Darwinian wisdom of the day said that animals living so long ago must be simple in design, limited in scope and ancestral to contemporary species.@@@@1@27@@oe@2-2-2013
21158016@unknown@formal@none@1@S@Accordingly, the hidebound traditionalist reconstructed hypothetical organisms from the Burgess fossils in such a way that they could be shoehorned into familiar categories.@@@@1@23@@oe@2-2-2013
21158017@unknown@formal@none@1@S@It was not until the early 1970s that Cambridge Prof. Harry Whittington and two sharp graduate students began to publish a reinterpretation of the Burgess Shale.@@@@1@26@@oe@2-2-2013
21158018@unknown@formal@none@1@S@By making clever inferences about how the squashed and distorted fossil remains corresponded to three-dimensional structures, this trio was able to piece together a series of wondrous beasties quite unlike anything currently on the planet.@@@@1@35@@oe@2-2-2013
21158019@unknown@formal@none@1@S@One was so fantastic in appearance, it was dubbed Hallucigenia.@@@@1@10@@oe@2-2-2013
21158020@unknown@formal@none@1@S@Would that Mr. Gould's minute descriptions of these creatures was always so colorful.@@@@1@13@@oe@2-2-2013
21158021@unknown@formal@none@1@S@A good deal of the book is boring, particularly the endless allusions to high and pop culture and the frequent jokes festooning the text.@@@@1@24@@oe@2-2-2013
21158022@unknown@formal@none@1@S@These turns do not provide sufficient relief from sentences like, "Most modern chelicerates have six uniramous appendages on the prosoma."@@@@1@20@@oe@2-2-2013
21158023@unknown@formal@none@1@S@Interest picks up, though, when Mr. Gould gets around to discussing the meaning of the Burgess oddities for the theory of evolution.@@@@1@22@@oe@2-2-2013
21158024@unknown@formal@none@1@S@Not long after the appearance of life, evidently, there was an explosive proliferation in the number of animal designs seen on the earth.@@@@1@23@@oe@2-2-2013
21158025@unknown@formal@none@1@S@The vast majority of them, however, were wiped out by a succession of environmental upheavals that were too sudden and catastrophic for the normal rules of natural selection to operate.@@@@1@30@@oe@2-2-2013
21158026@unknown@formal@none@1@S@Consequently, the winnowing process was like a lottery "in which each group {held} a ticket unrelated to its anatomical virtues.@@@@1@20@@oe@2-2-2013
21158027@unknown@formal@none@1@S@" So much for survival of the fittest.@@@@1@8@@oe@2-2-2013
21158028@unknown@formal@none@1@S@So much, too, for the notion that we humans triumphed in the Darwinian struggle by evolving big brains.@@@@1@18@@oe@2-2-2013
21158029@unknown@formal@none@1@S@Our mammalian forerunners lucked out through the extraterrestrial impact that did in the dinosaurs because they were small, not smart.@@@@1@20@@oe@2-2-2013
21158030@unknown@formal@none@1@S@If anyone has difficulty imagining a world in which history went merrily on without us, Mr. Gould sketches several.@@@@1@19@@oe@2-2-2013
21158031@unknown@formal@none@1@S@In one, birds are the dominant carnivores; in another the seas abound with "little penises."@@@@1@15@@oe@2-2-2013
21158032@unknown@formal@none@1@S@Back when the Burgess fauna were flourishing, it seems, human evolutionary hopes hung on the survival of a little worm with a backbone called Pikaia.@@@@1@25@@oe@2-2-2013
21158033@unknown@formal@none@1@S@Mr. Gould finds this oddly exhilarating; like an existentialist of old, he views our contingency as "a source of both freedom and consequent moral responsibility."@@@@1@25@@oe@2-2-2013
21158034@unknown@formal@none@1@S@I, by contrast, cannot help feeling that if some other curiosity from the Burgess Shale had survived instead, beings at once wiser and less boorish than Homo sapiens might have eventually gained earthly dominion.@@@@1@34@@oe@2-2-2013
21158035@unknown@formal@none@1@S@But even if no conscious life had evolved here at all, the universe is a big place, and given the right conditions, sympathetic to creating some form of life.@@@@1@29@@oe@2-2-2013
21158036@unknown@formal@none@1@S@Surely at some other cosmic address a Gouldoid creature would have risen out of the ooze to explain why, paleontologically speaking, "it is, indeed, a wonderful life."@@@@1@27@@oe@2-2-2013
21158037@unknown@formal@none@1@S@Mr. Holt is a columnist for the Literary Review in London.@@@@1@11@@oe@2-2-2013
21159001@unknown@formal@none@1@S@The Justice Department scrambled to play down the significance of its new guidelines concerning prosecutions under the federal racketeering law.@@@@1@20@@oe@2-2-2013
21159002@unknown@formal@none@1@S@The guidelines were distributed to U.S. attorneys last summer but were disclosed for the first time by press reports this week.@@@@1@21@@oe@2-2-2013
21159003@unknown@formal@none@1@S@They discourage prosecutors, under certain circumstances, from seeking court orders seizing the assets of racketeering defendants prior to trial.@@@@1@19@@oe@2-2-2013
21159004@unknown@formal@none@1@S@But David Runkel, chief Justice Department spokesman, said the guidelines "are a codification and a clarification far more than a new direction."@@@@1@22@@oe@2-2-2013
21159005@unknown@formal@none@1@S@Use of the Racketeer Influenced and Corrupt Organizations law against white-collar defendants, as opposed to alleged organized-crime figures, has come under attack from some defense lawyers and legal scholars.@@@@1@29@@oe@2-2-2013
21159006@unknown@formal@none@1@S@Critics have complained that the law unfairly strips defendants of assets before a jury determines they have committed a crime and that aggressive use of the forfeiture provisions can ruin corporate defendants or force them into unfavorable plea bargains.@@@@1@39@@oe@2-2-2013
21159007@unknown@formal@none@1@S@In the new guidelines, the Justice Department says that in attempting to freeze disputed assets before trial, "the government will not seek to disrupt the normal, legitimate business activities of the defendant" and "will not seek. . .to take from third parties assets legitimately transferred to them."@@@@1@47@@oe@2-2-2013
21159008@unknown@formal@none@1@S@The guidelines also state, "The government's policy is not to seek the fullest forfeiture permissible under the law where that forfeiture would be disproportionate to the defendant's crime."@@@@1@28@@oe@2-2-2013
21159009@unknown@formal@none@1@S@Another provision clarifies certain limits on when prosecutors may use tax-fraud charges as a basis for bringing a racketeering case.@@@@1@20@@oe@2-2-2013
21159010@unknown@formal@none@1@S@Mr. Runkel declined to speculate on whether the guidelines would curb racketeering prosecutions against corporate defendants.@@@@1@16@@oe@2-2-2013
21159011@unknown@formal@none@1@S@"The impact, if there is any, will be impossible to judge ahead of time because the decision whether to use {racketeering charges} is made in individual cases" by Justice Department officials in Washington, he said.@@@@1@35@@oe@2-2-2013
21159012@unknown@formal@none@1@S@In a memorandum describing the guidelines, Assistant Attorney General Edward Dennis Jr. said that government efforts to freeze defendants' assets pending racketeering prosecutions "have been the subject of considerable criticism in the press."@@@@1@33@@oe@2-2-2013
21159013@unknown@formal@none@1@S@But Mr. Runkel said the government isn't "backing off on these kinds of matters at all.@@@@1@16@@oe@2-2-2013
21160001@unknown@formal@none@1@S@California legislators, searching for ways to pay for the $4 billion to $6 billion in damages from last week's earthquake, are laying the groundwork for a temporary increase in the state's sales tax.@@@@1@33@@oe@2-2-2013
21160002@unknown@formal@none@1@S@The talk of a sales tax rise follows a rebuff from Congress on the question of how much the federal government is willing to spend to aid in California's earthquake relief efforts.@@@@1@32@@oe@2-2-2013
21160003@unknown@formal@none@1@S@The state had sought as much as $4.1 billion in relief, but yesterday the House approved a more general scaled-back measure calling for $2.85 billion in aid, the bulk of which would go to California, with an unspecified amount going to regions affected by Hurricane Hugo.@@@@1@46@@oe@2-2-2013
21160004@unknown@formal@none@1@S@That leaves the state roughly $2 billion to $4 billion short.@@@@1@11@@oe@2-2-2013
21160005@unknown@formal@none@1@S@A sales tax increase appears to be the fastest and easiest to raise funds in a hurry.@@@@1@17@@oe@2-2-2013
21160006@unknown@formal@none@1@S@According to the state department of finance, a one-penny increase in the state's six-cent per dollar sales tax could raise $3 billion.@@@@1@22@@oe@2-2-2013
21160007@unknown@formal@none@1@S@Willie Brown, speaker of California's Assembly, said that Gov. George Deukmejian has agreed to schedule a special session of the legislature within two weeks.@@@@1@24@@oe@2-2-2013
21160008@unknown@formal@none@1@S@California's so-called Gann limit effectively prevents the state from spending new tax money and so drastically limits its options in an emergency.@@@@1@22@@oe@2-2-2013
21160009@unknown@formal@none@1@S@Both Mr. Brown, the state's most influential legislator, and Gov. Deukmejian favor a temporary sales tax increase -- should more money be needed than the state can raise from existing sources and the federal government.@@@@1@35@@oe@2-2-2013
21160010@unknown@formal@none@1@S@According to a spokesman, the governor is also studying the possibility of raising state gasoline taxes.@@@@1@16@@oe@2-2-2013
21160011@unknown@formal@none@1@S@Mr. Brown, meanwhile, believes "only one tax will be feasible, and it will be a one-penny sales tax increase," said Chuck Dalldorf, an aide.@@@@1@24@@oe@2-2-2013
21160012@unknown@formal@none@1@S@One immediate source of money is an emergency fund set up by Gov. Deukmejian.@@@@1@14@@oe@2-2-2013
21160013@unknown@formal@none@1@S@The fund has about $1 billion and is set up to handle "precisely the kind of emergency" the state faces, said Tom Beermann, the Governor's deputy press secretary.@@@@1@28@@oe@2-2-2013
21160014@unknown@formal@none@1@S@But the fund's size is disputed by Mr. Brown's office, which estimates the fund holds from $630 million to $800 million.@@@@1@21@@oe@2-2-2013
21160015@unknown@formal@none@1@S@Moreover, an aide to Mr. Brown said Gov. Deukmejian "has expressed a desire not to spend all the reserve on this."@@@@1@21@@oe@2-2-2013
21160016@unknown@formal@none@1@S@To push through a sales tax increase, however, the state will have to suspend the Gann limit, citing an emergency.@@@@1@20@@oe@2-2-2013
21160017@unknown@formal@none@1@S@And then it will be required to lower taxes by a corresponding amount during a three-year period after the temporary tax increase ends, said Cindy Katz, assistant director of the state department of finance.@@@@1@34@@oe@2-2-2013
21160018@unknown@formal@none@1@S@A sales tax increase would require two-thirds approval in both houses of the state's legislature.@@@@1@15@@oe@2-2-2013
21160019@unknown@formal@none@1@S@But observers expect broad support.@@@@1@5@@oe@2-2-2013
21160020@unknown@formal@none@1@S@"If there's an emergency and there aren't sufficient funds from elsewhere, I think the attitude will be supportive," said Kirk West, president of the California Chamber of Commerce.@@@@1@28@@oe@2-2-2013
21160021@unknown@formal@none@1@S@But others think property owners ought to pay a higher portion of the state's earthquake relief tab.@@@@1@17@@oe@2-2-2013
21160022@unknown@formal@none@1@S@Since the late 1970s, California property owners have benefited from a tax rollback as a result of a state ballot initiative known as Proposition 13.@@@@1@25@@oe@2-2-2013
21160023@unknown@formal@none@1@S@The state could also increase gasoline taxes; every one penny increase in the tax would yield $11 million a month.@@@@1@20@@oe@2-2-2013
21160024@unknown@formal@none@1@S@But Gov. Deukmejian and others are reluctant to do anything to harm the state's chances of sharply raising gasoline taxes on a permanent basis.@@@@1@24@@oe@2-2-2013
21160025@unknown@formal@none@1@S@To raise more highway funds, a measure to double the state's nine-cent a gallon tax over five years is set to appear on the state's June election ballot.@@@@1@28@@oe@2-2-2013
21160026@unknown@formal@none@1@S@But some fear imposing a temporary gasoline tax increase in the meantime could undercut support among voters for the measure.@@@@1@20@@oe@2-2-2013
21160027@unknown@formal@none@1@S@Not everyone is convinced the state must raise new revenue to meet its earthquake needs.@@@@1@15@@oe@2-2-2013
21160028@unknown@formal@none@1@S@"It's possible, though not probable," that the state could get by with its existing resources and federal help, said Quentin Kopp, chairman of the state senate's transportation committee.@@@@1@28@@oe@2-2-2013
21160029@unknown@formal@none@1@S@Separately, two men injured in last week's earthquake-triggered freeway collapse in Oakland began a legal battle against the state over whether officials adequately heeded warnings about the structure's safety.@@@@1@29@@oe@2-2-2013
21160030@unknown@formal@none@1@S@The claims, which were filed with the State Board of Control but will probably end up in court, are the first arising out of the collapse of the so-called Cypress structure viaduct.@@@@1@32@@oe@2-2-2013
21160031@unknown@formal@none@1@S@The men can defeat immunities that states often assert in court by showing that officials knew or should have known that design of the structure was defective and that they failed to make reasonable changes.@@@@1@35@@oe@2-2-2013
21160032@unknown@formal@none@1@S@A Board of Control spokesman said the board had not seen the claim and declined to comment.@@@@1@17@@oe@2-2-2013
21161001@unknown@formal@none@1@S@The following were among yesterday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
21161002@unknown@formal@none@1@S@Exxon Capital Corp. -- $200 million of 8 1/4% notes due Nov. 1, 1999, priced at 99.60 to yield 8.31%.@@@@1@20@@oe@2-2-2013
21161003@unknown@formal@none@1@S@The notes, which are noncallable, were priced at a spread of 45 basis points above the Treasury's 10-year note.@@@@1@19@@oe@2-2-2013
21161004@unknown@formal@none@1@S@Rated triple-A by both Moody's Investors Service Inc. and Standard & Poor's Corp., the issue will be sold through Salomon Brothers Inc.@@@@1@22@@oe@2-2-2013
21161005@unknown@formal@none@1@S@Citicorp -- $200 million of 8 3/4% notes due Nov. 1, 1996, priced at 99.64 to yield 8.82%.@@@@1@18@@oe@2-2-2013
21161006@unknown@formal@none@1@S@The noncallable issue was priced at a spread of 98 basis points above the Treasury's seven-year note.@@@@1@17@@oe@2-2-2013
21161007@unknown@formal@none@1@S@Rated single-A-1 by Moody's and double-A by S&P, the issue will be sold through Salomon Brothers.@@@@1@16@@oe@2-2-2013
21161008@unknown@formal@none@1@S@Boatmen's Bancshares Inc. -- $150 million of 9 1/4% subordinated notes due Nov. 1, 2001, priced at 99.821 to yield 9.275%.@@@@1@21@@oe@2-2-2013
21161009@unknown@formal@none@1@S@The noncallable issue was priced at a spread of 140 basis points above the Treasury's 10-year note.@@@@1@17@@oe@2-2-2013
21161010@unknown@formal@none@1@S@Rated single-A-3 by Moody's and single-A-minus by S&P, the issue will be sold through underwriters led by Morgan Stanley & Co.@@@@1@21@@oe@2-2-2013
21161011@unknown@formal@none@1@S@Xerox Corp. -- $150 million of 8 3/4% notes due Nov. 1, 1995, priced at 99.555 to yield 8.85%.@@@@1@19@@oe@2-2-2013
21161012@unknown@formal@none@1@S@The noncallable issue was priced to yield 105 basis points above the Treasury's fiveyear note.@@@@1@15@@oe@2-2-2013
21161013@unknown@formal@none@1@S@Rated single-A-2 by Moody's and single-A-plus by S&P, the issue will be sold through underwriters led by Salomon Brothers.@@@@1@19@@oe@2-2-2013
21161014@unknown@formal@none@1@S@American General Finance Corp. -- $150 million of 8.45% notes due Oct. 15, 2009, through Bear, Stearns & Co., being offered at a price of 99.661 to yield 8.50%.@@@@1@29@@oe@2-2-2013
21161015@unknown@formal@none@1@S@The noncallable issue, which has a one-time put Oct. 15, 1999, was priced at a spread of 66 basis points above the Treasury's 10-year note.@@@@1@25@@oe@2-2-2013
21161016@unknown@formal@none@1@S@The issue is rated single-A-1 by Moody's and single-A-plus by S&P.@@@@1@11@@oe@2-2-2013
21161017@unknown@formal@none@1@S@Baltimore Gas & Electric Co. -- $100 million of first and refunding mortgage bonds, due Oct. 15, 1999, through Shearson Lehman Hutton Inc., offered at par to yield 8.40%.@@@@1@29@@oe@2-2-2013
21161018@unknown@formal@none@1@S@The noncallable issue is rated double-A-3 by Moody's and double-A-minus by S&P.@@@@1@12@@oe@2-2-2013
21161019@unknown@formal@none@1@S@It was priced at a spread of 55 basis points above the Treasury's 10-year note.@@@@1@15@@oe@2-2-2013
21161020@unknown@formal@none@1@S@Massachusetts -- $230 million of general obligation bonds, consolidated loan of 1989, Series D, due 1990-2009, through a Goldman, Sachs & Co. group.@@@@1@23@@oe@2-2-2013
21161021@unknown@formal@none@1@S@The insured bonds, rated triple-A by Moody's and S&P, were priced to yield from 6.00% in 1990 to 7.20% in 2009.@@@@1@21@@oe@2-2-2013
21161022@unknown@formal@none@1@S@Broward County School District, Fla. -- $185 million of school district general obligation bonds, Series 1989, due 1991-1999 and 2008, tentatively priced by a First Boston Corp. group to yield from 6.20% in 1991 to 7.30% in 2008.@@@@1@38@@oe@2-2-2013
21161023@unknown@formal@none@1@S@There are $120.7 million of 7 1/8% term bonds due 2008, priced to yield 7.30%.@@@@1@15@@oe@2-2-2013
21161024@unknown@formal@none@1@S@Serial bonds are priced to yield to 7% in 1999.@@@@1@10@@oe@2-2-2013
21161025@unknown@formal@none@1@S@The bonds are rated single-A-1 by Moody's and double-A-minus by S&P.@@@@1@11@@oe@2-2-2013
21161026@unknown@formal@none@1@S@Culver City Redevelopment Financing Authority, Calif. -- $145 million of revenue bonds, Series 1989, tentatively priced by a Stone & Youngberg group.@@@@1@22@@oe@2-2-2013
21161027@unknown@formal@none@1@S@The issue includes $100 million of insured senior lien bonds.@@@@1@10@@oe@2-2-2013
21161028@unknown@formal@none@1@S@These consist of current interest bonds due 1990-2002, 2010 and 2015, and capital appreciation bonds due 2003 and 2004, tentatively priced to yield from 5.75% in 1990 to 7.14% in 2010.@@@@1@31@@oe@2-2-2013
21161029@unknown@formal@none@1@S@Bonds due 2003, 2004 and 2015 aren't being formally reoffered.@@@@1@10@@oe@2-2-2013
21161030@unknown@formal@none@1@S@There are also $40 million of uninsured subordinate lien bonds, due Dec. 1, 2008, and Dec. 1, 2015.@@@@1@18@@oe@2-2-2013
21161031@unknown@formal@none@1@S@There are $15,015,000 of 7 1/2% bonds priced at par and due 2008 and $24,985,000 of 7.6% bonds priced at par and due 2015.@@@@1@24@@oe@2-2-2013
21161032@unknown@formal@none@1@S@The insured bonds are rated triple-A by Moody's and S&P.@@@@1@10@@oe@2-2-2013
21161033@unknown@formal@none@1@S@The uninsured subordinate lien bonds aren't rated, according to the lead underwriter.@@@@1@12@@oe@2-2-2013
21161034@unknown@formal@none@1@S@West Virginia Parkways, Economic Development and Tourism Authority -- $143 million of parkway revenue bonds, Series 1989, with current interest bonds due 1990-2002 and 2019 and capital appreciation bonds due 2003-2008, tentatively priced by a PaineWebber Inc. group to yield from 6% in 1990 to 7.31% in 2019.@@@@1@48@@oe@2-2-2013
21161035@unknown@formal@none@1@S@There are $86,525,000 of 7 1/8% bonds priced at 97 3/4 to yield 7.31% in 2019.@@@@1@16@@oe@2-2-2013
21161036@unknown@formal@none@1@S@Current interest serial bonds are tentatively priced to yield to 7.05% in 2002.@@@@1@13@@oe@2-2-2013
21161037@unknown@formal@none@1@S@Capital appreciation bonds are priced to yield to maturity from 7.10% in 2003 to 7.25% in 2007 and 2008.@@@@1@19@@oe@2-2-2013
21161038@unknown@formal@none@1@S@The bonds are insured and rated triple-A by Moody's and S&P.@@@@1@11@@oe@2-2-2013
21161039@unknown@formal@none@1@S@Connecticut Housing Finance Authority -- $132.8 million of housing mortgage revenue bonds priced by a PaineWebber Inc. group.@@@@1@18@@oe@2-2-2013
21161040@unknown@formal@none@1@S@The $82.8 million of Series B bonds, which aren't subject to the alternative minimum tax, were priced at par to yield from 6.85% in 2000 to 7.20% in 2009.@@@@1@29@@oe@2-2-2013
21161041@unknown@formal@none@1@S@Meanwhile, the $50 million of Series C bonds, which are suject to the alternative minimum tax, were priced at par to yield from 6.25% in 1990 to 7.10% to 2000.@@@@1@30@@oe@2-2-2013
21161042@unknown@formal@none@1@S@The issue is expected to receive a double-A rating from Moody's, the underwriter said.@@@@1@14@@oe@2-2-2013
21161043@unknown@formal@none@1@S@An S&P rating of double-A-plus has already been confirmed.@@@@1@9@@oe@2-2-2013
21161044@unknown@formal@none@1@S@Montgomery County, Md. -- $75 million of general obligation, Series B, consolidated public improvement bonds of 1989, through a Manufacturers Hanover Trust Co. group.@@@@1@24@@oe@2-2-2013
21161045@unknown@formal@none@1@S@The bonds, rated triple-A by Moody's and S&P, were priced to yield from 5.75% in 1990 to 6.90% in 2006 to 2009.@@@@1@22@@oe@2-2-2013
21161046@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. -- $500 million of Remic mortgage securities being offered by Prudential-Bache Capital Funding Inc.@@@@1@19@@oe@2-2-2013
21161047@unknown@formal@none@1@S@There were no details available on the pricing of the issue, Freddie Mac's Series 108.@@@@1@15@@oe@2-2-2013
21161048@unknown@formal@none@1@S@The issue is backed by Freddie Mac 8 1/2% securities.@@@@1@10@@oe@2-2-2013
21161049@unknown@formal@none@1@S@Hanwa Co. (Japan) -- Two-part, $800 million issue of bonds due Nov. 9, 1994, with equity-purchase warrants, indicating a 4 3/8% coupon at par.@@@@1@24@@oe@2-2-2013
21161050@unknown@formal@none@1@S@European portion of $700 million via Yamaichi International Europe Ltd.@@@@1@10@@oe@2-2-2013
21161051@unknown@formal@none@1@S@Asian portion of $100 million via Yamatane Securities Europe Ltd.@@@@1@10@@oe@2-2-2013
21161052@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Nov. 28, 1989, through Oct. 26, 1994, to buy shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Oct. 26.@@@@1@36@@oe@2-2-2013
21161053@unknown@formal@none@1@S@Japan Storage Battery Co. -- $100 million of bonds due Nov. 9, 1993, with equity-purchase warrants, indicating a 3 7/8% coupon at par via Nikko Securities Co. (Europe) Ltd.@@@@1@29@@oe@2-2-2013
21161054@unknown@formal@none@1@S@Guaranteed by Mitsubishi Bank Ltd.@@@@1@5@@oe@2-2-2013
21161055@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Nov. 27, 1989, through Oct. 26, 1993, to buy shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Nov. 1.@@@@1@36@@oe@2-2-2013
21161056@unknown@formal@none@1@S@Sanraku Inc. (Japan) -- $100 million of bonds due Nov. 9, 1993, with equity-purchase warrants, indicating a 3 7/8% coupon at par, via Nomura International.@@@@1@25@@oe@2-2-2013
21161057@unknown@formal@none@1@S@Guaranteed by Dai-Ichi Kangyo Bank Ltd.@@@@1@6@@oe@2-2-2013
21161058@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Nov. 21, 1989, through Oct. 19, 1993, to buy shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Oct. 31.@@@@1@36@@oe@2-2-2013
21161059@unknown@formal@none@1@S@Nippon Signal Co. (Japan) -- 80 million marks of bonds with equity-purchase warrants, indicating a 1 1/2% coupon, due Nov. 9, 1994, and priced at par, via Commerzbank.@@@@1@28@@oe@2-2-2013
21161060@unknown@formal@none@1@S@Guaranteed by Fuji Bank.@@@@1@4@@oe@2-2-2013
21161061@unknown@formal@none@1@S@Each 5,000 mark bond carries one warrant and one certificate for four warrants, exercisable from Dec. 18, 1989, to Oct. 26, 1994, to buy shares at an expected premium of 2 1/2% above the closing share price when prices are fixed Oct. 30.@@@@1@43@@oe@2-2-2013
21161062@unknown@formal@none@1@S@Miyoshi Oil & Fat Co. (Japan) -- 120 million Swiss francs of privately placed convertible notes due Dec. 31, 1993, with a fixed 0.25% coupon at par, via Union Bank of Switzerland.@@@@1@32@@oe@2-2-2013
21161063@unknown@formal@none@1@S@Put option on Dec. 31, 1991, at a fixed 107 to yield 3.43%.@@@@1@13@@oe@2-2-2013
21161064@unknown@formal@none@1@S@Each 50,000 Swiss franc bond convertible from Nov. 28, 1989, to Dec. 20, 1993, at a 5% premium over closing share price Oct. 30, when terms are scheduled to be fixed.@@@@1@31@@oe@2-2-2013
21161065@unknown@formal@none@1@S@Fokker N.V. (Netherlands) -- 150 million Swiss francs of convertible bonds due Nov. 15, 1997, with a fixed 4% coupon at par via Union Bank of Switzerland.@@@@1@27@@oe@2-2-2013
21161066@unknown@formal@none@1@S@Each 5,000 Swiss franc bond convertible from Jan. 3, 1989, to Oct. 31, 1997.@@@@1@14@@oe@2-2-2013
21161067@unknown@formal@none@1@S@Fees 2 1/8.@@@@1@3@@oe@2-2-2013
21161068@unknown@formal@none@1@S@Sapporo Lion Ltd. (Japan) -- 50 million Swiss francs of privately placed convertible notes due Dec. 31, 1994, with a 0.25% coupon at par, via Yamaichi Bank (Switzerland).@@@@1@28@@oe@2-2-2013
21161069@unknown@formal@none@1@S@Put option on Dec. 31, 1991, at an indicated 107 7/8 to yield 3.84%.@@@@1@14@@oe@2-2-2013
21161070@unknown@formal@none@1@S@Each 50,000 Swiss franc note convertible from Dec. 1, 1989, to Dec. 16, 1994, at 5% premium over the closing share price Oct. 26, when terms are scheduled to be fixed.@@@@1@31@@oe@2-2-2013
21161071@unknown@formal@none@1@S@Credit Local de France -- 100 million Swiss francs of 6%, privately placed notes due Dec. 1, 1996, priced at 100 1/2 to yield 5.91%, via Swiss Bank Corp.@@@@1@29@@oe@2-2-2013
21162001@unknown@formal@none@1@S@People start their own businesses for many reasons.@@@@1@8@@oe@2-2-2013
21162002@unknown@formal@none@1@S@But a chance to fill out sales-tax records is rarely one of them.@@@@1@13@@oe@2-2-2013
21162003@unknown@formal@none@1@S@Red tape is the bugaboo of small business.@@@@1@8@@oe@2-2-2013
21162004@unknown@formal@none@1@S@Ironically, the person who wants to run his or her own business is probably the active, results-oriented sort most likely to hate meeting the rules and record-keeping demands of federal, state and local regulators.@@@@1@34@@oe@2-2-2013
21162005@unknown@formal@none@1@S@Yet every business owner has to face the mound of forms and regulations -- and often is the only one available to tackle it.@@@@1@24@@oe@2-2-2013
21162006@unknown@formal@none@1@S@There is hope of change.@@@@1@5@@oe@2-2-2013
21162007@unknown@formal@none@1@S@Last week, Sen. Malcolm Wallop (R., Wyo.) held hearings on a bill to strengthen an existing law designed to reduce regulatory hassles for small businesses.@@@@1@25@@oe@2-2-2013
21162008@unknown@formal@none@1@S@"A great many federal regulations are meant for larger entities and don't really apply to small businesses," says Marian Jacob, a legislative aide to Sen. Wallop.@@@@1@26@@oe@2-2-2013
21162009@unknown@formal@none@1@S@Other lawmakers are busy trying to revive the recently lapsed Paperwork Reduction Act, which many feel benefited small enterprises.@@@@1@19@@oe@2-2-2013
21162010@unknown@formal@none@1@S@Thus, optimistic entrepreneurs await a promised land of less red tape -- just as soon as Uncle Sam gets around to arranging it.@@@@1@23@@oe@2-2-2013
21162011@unknown@formal@none@1@S@Meanwhile, they tackle the mounds of paper -- and fantasize about a dream world where bulk-mail postal regulations and government inspectors are banished.@@@@1@23@@oe@2-2-2013
21162012@unknown@formal@none@1@S@To find out what red tape riles entrepreneurs most, the Journal asked a completely unscientific, random sample of business owners to fantasize about the forms and regulations they would most like to get lost in the mail.@@@@1@37@@oe@2-2-2013
21162013@unknown@formal@none@1@S@Some entrepreneurs say the red tape they most love to hate is red tape they would also hate to lose.@@@@1@20@@oe@2-2-2013
21162014@unknown@formal@none@1@S@They concede that much of the government meddling that torments them is essential to the public good, and even to their own businesses.@@@@1@23@@oe@2-2-2013
21162015@unknown@formal@none@1@S@Rules that set standards for products or govern business behavior, generally the best regarded form of red tape, "create a level playing field and keep unscrupulous competitors away," says Sidney West, president of TechDesign International Inc., a Springfield, Va., business that designs telecommunication and other products.@@@@1@46@@oe@2-2-2013
21162016@unknown@formal@none@1@S@Mr. West cites the Federal Communications Commission and its standards for telecommunications equipment: "They monitor product quality and prevent junk from flooding the market."@@@@1@24@@oe@2-2-2013
21162017@unknown@formal@none@1@S@Some gripes about red tape are predictable: Architects complain about a host of building regulations, auto leasing companies about car insurance rules.@@@@1@22@@oe@2-2-2013
21162018@unknown@formal@none@1@S@Determining when handicapped access is required can be a nightmare for architects, says Mark Dooling, president of Dooling & Co., a Newton, Mass., architectural firm.@@@@1@25@@oe@2-2-2013
21162019@unknown@formal@none@1@S@There is such a maze of federal, state and local codes that "building inspectors are backing away from interpreting them," Mr. Dooling says.@@@@1@23@@oe@2-2-2013
21162020@unknown@formal@none@1@S@Taxi, leasing and other companies that maintain fleets of vehicles devote substantial resources to complying with state insurance laws and a host of agencies.@@@@1@24@@oe@2-2-2013
21162021@unknown@formal@none@1@S@"It's very costly and time-consuming," says Phil Rosen, a partner in Fleet & Leasing Management Inc., a Boston car-leasing company.@@@@1@20@@oe@2-2-2013
21162022@unknown@formal@none@1@S@One senior executive at his firm spends nearly 20% of his time on insurance, he says.@@@@1@16@@oe@2-2-2013
21162023@unknown@formal@none@1@S@Other forms of red tape are more pervasive.@@@@1@8@@oe@2-2-2013
21162024@unknown@formal@none@1@S@The most onerous, many entrepreneurs say, is the record-keeping and filing required by tax authorities.@@@@1@15@@oe@2-2-2013
21162025@unknown@formal@none@1@S@Complying with environmental and workplace regulations runs a close second.@@@@1@10@@oe@2-2-2013
21162026@unknown@formal@none@1@S@But gripes run the gamut.@@@@1@5@@oe@2-2-2013
21162027@unknown@formal@none@1@S@Here is the red tape that irks surveyed business owners the most:@@@@1@12@@oe@2-2-2013
21162028@unknown@formal@none@1@S@ENVIRONMENTAL REGULATIONS:@@@@1@2@@oe@2-2-2013
21162029@unknown@formal@none@1@S@Next to medical insurance, "costs of compliance" are the fastest-growing expense at Impco Inc., a Providence, R.I., chemical company.@@@@1@19@@oe@2-2-2013
21162030@unknown@formal@none@1@S@Peter Gebhard, the company's owner, says spending on regulatory paper work and the people to do it -- mostly to comply with federal, state and local environmental laws -- will rise almost 30% this year to $100,000.@@@@1@37@@oe@2-2-2013
21162031@unknown@formal@none@1@S@Mr. Gebhard adds that spending on environmental red tape amounts to between 6.5% and 7.5% of Impco's total operating expenses.@@@@1@20@@oe@2-2-2013
21162032@unknown@formal@none@1@S@Eastern Reproduction Corp., a Waltham, Mass., maker of thin metal precision parts, must report to five federal and state agencies as well as to local fire, police, hospital and plumbing authorities, says Robert Maguire, president.@@@@1@35@@oe@2-2-2013
21162033@unknown@formal@none@1@S@One state environmental regulator returned a report because "it wasn't heavy enough, it couldn't have been correct," Mr. Maguire says.@@@@1@20@@oe@2-2-2013
21162034@unknown@formal@none@1@S@WITHHOLDING RULES:@@@@1@2@@oe@2-2-2013
21162035@unknown@formal@none@1@S@Employers must deposit withholding taxes exceeding $3,000 within three days after payroll -- or pay stiff penalties -- and that's a big problem for small businesses.@@@@1@26@@oe@2-2-2013
21162036@unknown@formal@none@1@S@It's especially nettlesome "if you're on the road and you're the one responsible," says Eddie Brown, president of Brown Capital Management Inc., a Baltimore money-management firm.@@@@1@26@@oe@2-2-2013
21162037@unknown@formal@none@1@S@EMPLOYEE MANUALS:@@@@1@2@@oe@2-2-2013
21162038@unknown@formal@none@1@S@Revising employee manuals on pensions, health care and other subjects costs over $25,000 a year for Bert Giguiere, president of Professional Agricultural Management Inc., a Fresno, Calif., provider of business services to farmers.@@@@1@33@@oe@2-2-2013
21162039@unknown@formal@none@1@S@An employer leaves itself open to a great deal of liability if its employee manuals don't reflect the most recent laws, he says.@@@@1@23@@oe@2-2-2013
21162040@unknown@formal@none@1@S@But the ever-changing laws are usually so complicated and confusing that "you need professionals to help you; you can't do it yourself," he adds.@@@@1@24@@oe@2-2-2013
21162041@unknown@formal@none@1@S@PENSION AND PROFIT-SHARING RULES:@@@@1@4@@oe@2-2-2013
21162042@unknown@formal@none@1@S@Complying with these is enough to make business owners look forward to their own pension days.@@@@1@16@@oe@2-2-2013
21162043@unknown@formal@none@1@S@Yearly changes in federal benefit laws force small businesses to repeatedly re-evaluate and redesign existing plans.@@@@1@16@@oe@2-2-2013
21162044@unknown@formal@none@1@S@Alice Fixx, who runs her own public-relations concern in New York, says she has had to overhaul her pension and profit-sharing plans three times in the past three years.@@@@1@29@@oe@2-2-2013
21162045@unknown@formal@none@1@S@"It doesn't increase benefits, but it's costly and time-consuming," Ms. Fixx says.@@@@1@12@@oe@2-2-2013
21162046@unknown@formal@none@1@S@Compliance added 15% to 20% to her accounting bill last year, she says.@@@@1@13@@oe@2-2-2013
21162047@unknown@formal@none@1@S@SALES TAX RECORDS:@@@@1@3@@oe@2-2-2013
21162048@unknown@formal@none@1@S@Advertising agencies and other service companies are exempt from city and state sales tax in most locales -- but the exemption comes at a price of exhaustive records and rigorous reviews.@@@@1@31@@oe@2-2-2013
21162049@unknown@formal@none@1@S@To justify their exempt status and avoid penalties, these businesses must show once a year that each and every transaction on which they didn't pay sales tax was a legitimate business expense.@@@@1@32@@oe@2-2-2013
21162050@unknown@formal@none@1@S@"You need one person to just take care of sales tax," says Jennie Tong, executive vice president of Lee Liu & Tong Advertising Inc., New York.@@@@1@26@@oe@2-2-2013
21163001@unknown@formal@none@1@S@When the Trinity Repertory Theater named Anne Bogart its artistic director last spring, the nation's theatrical cognoscenti arched a collective eyebrow.@@@@1@21@@oe@2-2-2013
21163002@unknown@formal@none@1@S@Ms. Bogart, an acclaimed creator of deconstructed dramatic collages that tear into such sacred texts as Rodgers and Hammerstein's "South Pacific," is decidedly downtown.@@@@1@24@@oe@2-2-2013
21163003@unknown@formal@none@1@S@Trinity Rep meanwhile is one of the nation's oldest and most respected regional theaters, still hosting an annual "A Christmas Carol."@@@@1@21@@oe@2-2-2013
21163004@unknown@formal@none@1@S@How would this bastion of traditional values fare in Ms. Bogart's iconoclastic hands?@@@@1@13@@oe@2-2-2013
21163005@unknown@formal@none@1@S@She held her fire with her first production at the Trinity earlier this season.@@@@1@14@@oe@2-2-2013
21163006@unknown@formal@none@1@S@It was a predictable revival of her prize-winning off-Broadway anthology of Bertolt Brecht's theoretical writings, called "No Plays, No Poetry."@@@@1@20@@oe@2-2-2013
21163007@unknown@formal@none@1@S@Now, with the opening of Maxim Gorky's bourgeois-bashing "Summerfolk," Ms. Bogart has laid her cards on the table.@@@@1@18@@oe@2-2-2013
21163008@unknown@formal@none@1@S@Hers is a hand that will test the mettle of her audiences.@@@@1@12@@oe@2-2-2013
21163009@unknown@formal@none@1@S@For Ms. Bogart, who initially studied and directed in Germany (and cites such European directors as Peter Stein, Giorgio Strehler and Ariane Mnouchkine as influences) tends to stage her productions with a Brechtian rigor -- whether the text demands it or not.@@@@1@42@@oe@2-2-2013
21163010@unknown@formal@none@1@S@And Gorky, considered the father of Soviet socialist realism, did not write plays that easily lend themselves to deliberately antirealistic distancing techniques.@@@@1@22@@oe@2-2-2013
21163011@unknown@formal@none@1@S@Gorky was a loyal if occasionally ambivalent proletarian writer committed to enlightening the masses with plain speaking rooted in a slightly sour version of Chekhovian humanism.@@@@1@26@@oe@2-2-2013
21163012@unknown@formal@none@1@S@And "Summerfolk," penned in 1904 as a kind of sequel to Chekhov's "Cherry Orchard," is a lawn party of Russian yuppies engaged in an exhausting ideological fight to the finish between the allrightniks and the reformers.@@@@1@36@@oe@2-2-2013
21163013@unknown@formal@none@1@S@Along the way there also are lots of romantic dalliances.@@@@1@10@@oe@2-2-2013
21163014@unknown@formal@none@1@S@Wisely Ms. Bogart has kept Gorky's time and place intact.@@@@1@10@@oe@2-2-2013
21163015@unknown@formal@none@1@S@Despite the absence of samovars (and a tendency to turn the furniture upside down), the production is rich in Russian ennui voiced by languorous folk sporting beige linen and rumpled cotton, with boaters and fishing poles aplenty.@@@@1@37@@oe@2-2-2013
21163016@unknown@formal@none@1@S@But beyond this decorative nod to tradition, Ms. Bogart and company head off in a stylistic direction that all but transforms Gorky's naturalistic drama into something akin to, well, farce.@@@@1@30@@oe@2-2-2013
21163017@unknown@formal@none@1@S@The director's attempt to force some Brechtian distance between her actors and their characters frequently backfires with performances that are unduly mannered.@@@@1@22@@oe@2-2-2013
21163018@unknown@formal@none@1@S@Not only do the actors stand outside their characters and make it clear they are at odds with them, but they often literally stand on their heads.@@@@1@27@@oe@2-2-2013
21163019@unknown@formal@none@1@S@Like Peter Sellars, Ms. Bogart manipulates her actors as if they were rag dolls, sprawling them on staircases, dangling them off tables, even hanging them from precipices while having them perform some gymnastic feats of derring-do.@@@@1@36@@oe@2-2-2013
21163020@unknown@formal@none@1@S@There are moments in this "Summerfolk" when the characters populating the vast multilevel country house (which looks like a parody of Frank Lloyd Wright and is designed by Victoria Petrovich) spout philosophic bon mots with the self-conscious rat-a-tat-tat pacing of "Laugh In."@@@@1@42@@oe@2-2-2013
21163021@unknown@formal@none@1@S@"Talk hurts from where it spurts," one of them says.@@@@1@10@@oe@2-2-2013
21163022@unknown@formal@none@1@S@The clash of ideologies survives this treatment, but the nuance and richness of Gorky's individual characters have vanished in the scuffle.@@@@1@21@@oe@2-2-2013
21163023@unknown@formal@none@1@S@As for the humor that Gorky's text provides, when repainted in such broad strokes (particularly by the lesser members of the ensemble) it looks and sounds forced.@@@@1@27@@oe@2-2-2013
21163024@unknown@formal@none@1@S@Ms. Bogart does better with music than with words when she wants, as she so often does want, to express herself through Gorky's helpless play.@@@@1@25@@oe@2-2-2013
21163025@unknown@formal@none@1@S@Here she has the aid of her longtime associate Jeff Helpern, whom she appointed Trinity's first-ever musical director and whom she equipped with a spanking new $60,000 sound system and recording studio.@@@@1@32@@oe@2-2-2013
21163026@unknown@formal@none@1@S@For Gorky, Mr. Helpern provided an aural collage of Debussy and Rachmaninoff, which is less a score than a separate character with a distinct point of view.@@@@1@27@@oe@2-2-2013
21163027@unknown@formal@none@1@S@Like Brecht, and indeed Ezra Pound, Ms. Bogart has said that her intent in such manipulative staging of the classics is simply an attempt to "make it new."@@@@1@28@@oe@2-2-2013
21163028@unknown@formal@none@1@S@Indeed, during a recent post-production audience discussion, the director explained that her fondest artistic wish was to find a way to play "Somewhere Over the Rainbow" so that the song's "original beauty comes through," surmounting the cliche.@@@@1@37@@oe@2-2-2013
21163029@unknown@formal@none@1@S@The danger that Ms. Bogart seems to be courting here is one of obfuscation rather than rejuvenation, a vision so at odds with the playwright's that the two points of view nullify, rather than illuminate, each other.@@@@1@37@@oe@2-2-2013
21163030@unknown@formal@none@1@S@Ms. Bogart's cast is part and parcel of the problem.@@@@1@10@@oe@2-2-2013
21163031@unknown@formal@none@1@S@Ed Shea and Barbara Orson never find a real reason for their love affair as the foolish, idealistic young Vass and the tirelessly humanitarian doctor Maria Lvovna.@@@@1@27@@oe@2-2-2013
21163032@unknown@formal@none@1@S@Cynthia Strickland as the long-suffering Varvara is a tiresome whiner, not the inspirational counterrevolutionary Gorky intended.@@@@1@16@@oe@2-2-2013
21163033@unknown@formal@none@1@S@Better to look in the corners for performances that inspire or amuse.@@@@1@12@@oe@2-2-2013
21163034@unknown@formal@none@1@S@Janice Duclos, in addition to possessing one of the evening's more impressive vocal instruments, brings an unsuspected comedic touch to her role of Olga, everybody's favorite mom.@@@@1@27@@oe@2-2-2013
21163035@unknown@formal@none@1@S@Marni Rice plays the maid with so much edge as to steal her two scenes.@@@@1@15@@oe@2-2-2013
21163036@unknown@formal@none@1@S@But it is the Trinity Rep newcomer, Jonathan Fried (Zamislov, the paralegal) who is the actor to watch, whether he is hamming it up while conducting the chamber musicians or seducing his neighbor's wife (Becca Lish) by licking her bosom.@@@@1@40@@oe@2-2-2013
21163037@unknown@formal@none@1@S@Ms. de Vries writes frequently about theater.@@@@1@7@@oe@2-2-2013
21164001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
21164002@unknown@formal@none@1@S@MORGAN STANLEY, THE ONCE STODGY investment house, in 1974 helped a corporate client complete a hostile takeover.@@@@1@17@@oe@2-2-2013
21164003@unknown@formal@none@1@S@It was the start of a boom in unfriendly, even ungentlemanly, mergers.@@@@1@12@@oe@2-2-2013
21164004@unknown@formal@none@1@S@On July 18, 1974, International Nickle of Canada -- advised by Morgan -- offered $28 a share, equal to $157 million, for ESB, a Philadelphia battery maker.@@@@1@27@@oe@2-2-2013
21164005@unknown@formal@none@1@S@ESB said it was given only a three-hour advance warning on a "take it or leave it" basis from Inco, as the Toronto company is called.@@@@1@26@@oe@2-2-2013
21164006@unknown@formal@none@1@S@"ESB is aware that a hostile tender offer is being made by a foreign company for all of ESB's shares," said F.J. Port, ESB's president.@@@@1@25@@oe@2-2-2013
21164007@unknown@formal@none@1@S@"Hostile" thus entered the merger-acquisition lexicon.@@@@1@6@@oe@2-2-2013
21164008@unknown@formal@none@1@S@Joseph Flom, of Skadden, Arps, Slote, Meagher & Flom, which became a leading legal firm in merger cases, said the case "made takeovers respectable."@@@@1@24@@oe@2-2-2013
21164009@unknown@formal@none@1@S@ESB spurned Inco and within five days ESB had a "white knight" as United Aircraft -- headed by Harry Gray, a shrewdly friendly acquirer of companies -- offered $34 a share.@@@@1@31@@oe@2-2-2013
21164010@unknown@formal@none@1@S@Gray was advised by Goldman Sachs and Merrill Lynch.@@@@1@9@@oe@2-2-2013
21164011@unknown@formal@none@1@S@ESB directors warmly accepted, but a whirlwind bidding match ensued.@@@@1@10@@oe@2-2-2013
21164012@unknown@formal@none@1@S@Within a few days in July, Inco raised its bid to $36 and United matched it.@@@@1@16@@oe@2-2-2013
21164013@unknown@formal@none@1@S@On a single day Inco lifted its offer to $38 and then to $41, equal to $225.5 million.@@@@1@18@@oe@2-2-2013
21164014@unknown@formal@none@1@S@United met the $38 but then withdrew.@@@@1@7@@oe@2-2-2013
21164015@unknown@formal@none@1@S@ESB on July 29 accepted the Inco offer and the brief battle -- unlike the intricate and lengthy big takeovers of 1984-1989 -- was over.@@@@1@25@@oe@2-2-2013
21164016@unknown@formal@none@1@S@The new gritty game became a money maker for Wall Street's once austere old-name houses.@@@@1@15@@oe@2-2-2013
21164017@unknown@formal@none@1@S@Inco paid Morgan an advisory fee of about $250,000, a paltry figure by today's measures.@@@@1@15@@oe@2-2-2013
21164018@unknown@formal@none@1@S@Early this year Morgan and three other investment houses each received $25 million in advisory fees from Kohlberg Kravis & Roberts in its $25 billion friendly buy-out of RJR Nabisco.@@@@1@30@@oe@2-2-2013
21165001@unknown@formal@none@1@S@HomeFed Corp. said third-quarter net income slid 14% to $23.9 million, or $1.10 per fully diluted share, from $27.9 million, or $1.21 a fully diluted share, because of increased bad assets and unexpected trouble in unloading foreclosed property.@@@@1@38@@oe@2-2-2013
21165002@unknown@formal@none@1@S@The decline surprised analysts and jolted HomeFed's stock, which lost 8.6% of its value, closing at $38.50 on the New York Stock Exchange, down $3.625.@@@@1@25@@oe@2-2-2013
21165003@unknown@formal@none@1@S@HomeFed had been one of the handful of large West Coast thrifts that in recent quarters had counteracted interest-rate problems dogging the industry by keeping a lid on problem assets and lending heavily into the furious California housing market.@@@@1@39@@oe@2-2-2013
21165004@unknown@formal@none@1@S@Analysts had been projecting fully diluted earnings in the third quarter in the range of about $1.30 a share.@@@@1@19@@oe@2-2-2013
21165005@unknown@formal@none@1@S@However, HomeFed's loan originations and purchases plunged 26% in the quarter, to $1.4 billion from $1.9 billion a year earlier.@@@@1@20@@oe@2-2-2013
21165006@unknown@formal@none@1@S@Meanwhile, non-performing assets rose to $593 million from $518.7 million.@@@@1@10@@oe@2-2-2013
21165007@unknown@formal@none@1@S@Some $380 million of the troubled assets is repossessed real estate, a 55.6% surge from the $244.2 million of repossesed property HomeFed held a year ago.@@@@1@26@@oe@2-2-2013
21165008@unknown@formal@none@1@S@HomeFed has $17.9 billion of assets.@@@@1@6@@oe@2-2-2013
21165009@unknown@formal@none@1@S@HomeFed said most of the troubled assets are apartment complexes, shopping malls and other commercial real estate.@@@@1@17@@oe@2-2-2013
21165010@unknown@formal@none@1@S@It said about half are in California, with the rest scattered across the country.@@@@1@14@@oe@2-2-2013
21165011@unknown@formal@none@1@S@It said sales of such properties were slower than anticipated in the third quarter, but it expects sales to pick up in the rest of the year.@@@@1@27@@oe@2-2-2013
21165012@unknown@formal@none@1@S@HomeFed said the slide in loan originations was more a matter of design than a sign of cooling in the California market.@@@@1@22@@oe@2-2-2013
21165013@unknown@formal@none@1@S@Any such downturn in California would be grim news for West Coast thrifts, particularly the less healthy ones, which have performed poorly even with a torrid market.@@@@1@27@@oe@2-2-2013
21165014@unknown@formal@none@1@S@But HomeFed said it purposely curbed loan originations in the quarter because of uncertainty over the new capital requirements and regulations that will emerge from negotiations over implementing the government's massive thrift bailout bill.@@@@1@34@@oe@2-2-2013
21165015@unknown@formal@none@1@S@It said its real-estate operations earned a record $21.7 million, more than double year-earlier real estate profit of $9 million.@@@@1@20@@oe@2-2-2013
21165016@unknown@formal@none@1@S@And analysts said they see no signs of an imminent swoon in California real estate, even with last week's earthquake.@@@@1@20@@oe@2-2-2013
21165017@unknown@formal@none@1@S@The thrift said earnings also were nicked in the quarter by a $4 million provision for losses associated with its previously reported plan to liquidate a real-estate franchise network.@@@@1@29@@oe@2-2-2013
21165018@unknown@formal@none@1@S@For the nine months, HomeFed earned $82.5 million, or $3.52 a fully diluted share, a 4.3% increase from year-earlier net income of $79.1 million, or $3.43 a fully diluted share.@@@@1@30@@oe@2-2-2013
21166001@unknown@formal@none@1@S@Yields on certificates of deposit at major banks were little changed in the latest week.@@@@1@15@@oe@2-2-2013
21166002@unknown@formal@none@1@S@The average yield on six-month CDs of $50,000 and less slipped to 7.96% from 8.00%, according to Banxquote Money Markets, an information service based here.@@@@1@25@@oe@2-2-2013
21166003@unknown@formal@none@1@S@On one-year CDs of $50,000 and less, the average slid to 8.02% from 8.06%.@@@@1@14@@oe@2-2-2013
21166004@unknown@formal@none@1@S@Both issues are among the most popular with individual investors.@@@@1@10@@oe@2-2-2013
21166005@unknown@formal@none@1@S@"Because of shrinkage in the economy, rates can be expected to decline over a one-year horizon," said Norberto Mehl, chairman of Banxquote.@@@@1@22@@oe@2-2-2013
21166006@unknown@formal@none@1@S@"It's unclear how much rates can fall and how soon."@@@@1@10@@oe@2-2-2013
21166007@unknown@formal@none@1@S@Changes in CD yields in the week ended Tuesday were in line with blips up and down within a fairly narrow range for the last two months.@@@@1@27@@oe@2-2-2013
21166008@unknown@formal@none@1@S@Interest rates generally began declining last spring after moving steadily upward for more than a year.@@@@1@16@@oe@2-2-2013
21166009@unknown@formal@none@1@S@The average yield on small-denomination three-month CDs moved up two-hundredths of a percentage point in the latest week to 7.85%.@@@@1@20@@oe@2-2-2013
21166010@unknown@formal@none@1@S@Long-term CDs declined just a fraction.@@@@1@6@@oe@2-2-2013
21166011@unknown@formal@none@1@S@The average yield on both two-year CDs and five-year CDs was 7.98%.@@@@1@12@@oe@2-2-2013
21166012@unknown@formal@none@1@S@Only CDs sold by major brokerage firms posted significant increases in average yields in the latest week, reflecting increased yields on Treasury bills sold at Monday's auction.@@@@1@27@@oe@2-2-2013
21166013@unknown@formal@none@1@S@The average yield on six-month broker-sold CDs rose to 8.29% from 8.05% and on one-year CDs the average yield rose to 8.30% from 8.09%.@@@@1@24@@oe@2-2-2013
21166014@unknown@formal@none@1@S@The brokerage firms, which negotiate rates with the banks and thrifts whose CDs they sell, generally feel they have to offer clients more than they can get on T-bills or from banks and thrifts directly.@@@@1@35@@oe@2-2-2013
21166015@unknown@formal@none@1@S@T-bills sold at Monday's auction yielded 7.90% for six months and 7.77% for three months, up from 7.82% and 7.61%, respectively, the week before.@@@@1@24@@oe@2-2-2013
21166016@unknown@formal@none@1@S@So-called jumbo CDs, typically in denominations of $90,000 and up, also usually follow T-bills and interest rate trends in general more than those aimed at small investors.@@@@1@27@@oe@2-2-2013
21166017@unknown@formal@none@1@S@Some jumbos posted fractional changes in average yields this week, both up and down.@@@@1@14@@oe@2-2-2013
21166018@unknown@formal@none@1@S@The average yield on threemonth jumbos rose to 8.00% from 7.96%, while the two-year average fell by the same amount to 7.89%.@@@@1@22@@oe@2-2-2013
21166019@unknown@formal@none@1@S@Six-month and oneyear yields were unchanged, on average.@@@@1@8@@oe@2-2-2013
21166020@unknown@formal@none@1@S@"The (CD) market is unsettled right now," said Banxquote's Mr. Mehl.@@@@1@11@@oe@2-2-2013
21166021@unknown@formal@none@1@S@"It's very easily influenced by changes in the stock market and the junk bond market."@@@@1@15@@oe@2-2-2013
21166022@unknown@formal@none@1@S@The small changes in averages reflect generally unchanged yields at many major banks.@@@@1@13@@oe@2-2-2013
21166023@unknown@formal@none@1@S@Some, however, lowered yields significantly.@@@@1@5@@oe@2-2-2013
21166024@unknown@formal@none@1@S@At Chase Manhattan Bank in New York, for example, the yield on a small denomination six-month CD fell about a quarter of a percentage point to 8.06%.@@@@1@27@@oe@2-2-2013
21166025@unknown@formal@none@1@S@In California, Bank of America dropped the yield on both six-month and one-year "savings" CDs to 8.33% from 8.61%.@@@@1@19@@oe@2-2-2013
21166026@unknown@formal@none@1@S@Yields on money-market deposits were unchanged at an average 6.96% for $50,000 and less and down just a hundredth of a percentage point to 7.41% for jumbo deposits.@@@@1@28@@oe@2-2-2013
21167001@unknown@formal@none@1@S@Lion Nathan Ltd. agreed to buy the franchise to bottle, distribute and market Pepsi-Cola soft-drink products in Australia, the company said.@@@@1@21@@oe@2-2-2013
21167002@unknown@formal@none@1@S@The New Zealand brewing and retail concern didn't disclose terms.@@@@1@10@@oe@2-2-2013
21167003@unknown@formal@none@1@S@The agreement is effective Jan. 1 and is subject to approval from Australia's Foreign Investment Review Board.@@@@1@17@@oe@2-2-2013
21167004@unknown@formal@none@1@S@Cadbury Schweppes Australia Ltd. has held the Australian Pepsi franchise for the past four years.@@@@1@15@@oe@2-2-2013
21167005@unknown@formal@none@1@S@Lion Nathan and PepsiCola Australia, a unit of PepsiCo Inc. of the U.S., didn't say why Cadbury Schweppes will no longer hold the franchise.@@@@1@24@@oe@2-2-2013
21168001@unknown@formal@none@1@S@Wang Laboratories Inc. has sold $25 million of assets and reached agreements in principle to sell an additional $187 million shortly, Richard Miller, president, said at the annual meeting.@@@@1@29@@oe@2-2-2013
21168002@unknown@formal@none@1@S@He said Wang had reached an agreement with a "major financial firm" to sell for $150 million its domestic equipment lease portfolio and that of its Wang Credit Corp. subsidiary.@@@@1@30@@oe@2-2-2013
21168003@unknown@formal@none@1@S@He said it also agreed to sell a portion of its European real estate unit for $37 million.@@@@1@18@@oe@2-2-2013
21168004@unknown@formal@none@1@S@Mr. Miller said that Wang has already sold some $12 million of miscellaneous assets and disclosed that it had received $13 million from Compaq Computer Corp., Houston, in the previously announced sale of its Stirling, Scotland, plant.@@@@1@37@@oe@2-2-2013
21168005@unknown@formal@none@1@S@Mr. Miller repeated that in the next six months he plans to sell another $200 million to $300 million of assets to repay debt and reduce interest costs at Wang, a minincomputer maker in Lowell, Mass.@@@@1@36@@oe@2-2-2013
21168006@unknown@formal@none@1@S@In response to questions after the annual meeting, Mr. Miller said the company is no longer looking for an equity investor.@@@@1@21@@oe@2-2-2013
21168007@unknown@formal@none@1@S@During the summer, Wang executives had said they might seek outside investment.@@@@1@12@@oe@2-2-2013
21169001@unknown@formal@none@1@S@Murata Mfg. Co. said it is establishing a subsidiary in Britain to produce electric parts, including ceramic condensers.@@@@1@18@@oe@2-2-2013
21169002@unknown@formal@none@1@S@The Tokyo maker of ceramic capacitors said it purchased a plant in Plymouth.@@@@1@13@@oe@2-2-2013
21169003@unknown@formal@none@1@S@The company didn't disclose a purchase price or capitalization figures.@@@@1@10@@oe@2-2-2013
21169004@unknown@formal@none@1@S@Murata said, however, it will invest about 1.4 billion yen ($9.9 million) in the new company.@@@@1@16@@oe@2-2-2013
21169005@unknown@formal@none@1@S@Production is slated to begin in April.@@@@1@7@@oe@2-2-2013
21169006@unknown@formal@none@1@S@The company, which has a European foothold, Murata Europe Management G.m.b.H. in Germany, said the latest venture is designed to meet demand for electric parts in European Community countries ahead of the creation of the unified market by the end of 1992.@@@@1@42@@oe@2-2-2013
21169007@unknown@formal@none@1@S@Murata expects sales at the unit of about 1.5 billion yen in the first year.@@@@1@15@@oe@2-2-2013
21170001@unknown@formal@none@1@S@Safeway Stores Inc. reported a 69% decline in profit for the fiscal third quarter, but said operating improvements were masked by unusual gains in the year-earlier period.@@@@1@27@@oe@2-2-2013
21170002@unknown@formal@none@1@S@The Oakland grocery retailer, closely held since a $4.2 billion leveraged buy-out in 1986, said profit for the three months ended Sept. 9 was $7.1 million, compared with $23 million a year earlier.@@@@1@33@@oe@2-2-2013
21170003@unknown@formal@none@1@S@But it said the year-earlier results included gains of $23.5 million from divestitures.@@@@1@13@@oe@2-2-2013
21170004@unknown@formal@none@1@S@Sales rose 4.2% to $3.31 billion from $3.2 billion.@@@@1@9@@oe@2-2-2013
21170005@unknown@formal@none@1@S@For the nine months, the company said profit fell 49% to $23.5 million from $46 million in the year-earlier quarter, which included divestiture-related gains of $50.6 million.@@@@1@27@@oe@2-2-2013
21170006@unknown@formal@none@1@S@Sales increased 5.5% to $9.81 billion from $9.3 billion.@@@@1@9@@oe@2-2-2013
21171001@unknown@formal@none@1@S@Benjamin Jacobson & Sons has been the New York Stock Exchange specialist firm in charge of trading stock in UAL Corp. and its predecessors since the early 1930s.@@@@1@28@@oe@2-2-2013
21171002@unknown@formal@none@1@S@But the firm has never had a day like yesterday.@@@@1@10@@oe@2-2-2013
21171003@unknown@formal@none@1@S@At first UAL didn't open because of an order imbalance.@@@@1@10@@oe@2-2-2013
21171004@unknown@formal@none@1@S@When it did a half-hour into the session, it was priced at $150 a share, down more than $28 from Monday's close.@@@@1@22@@oe@2-2-2013
21171005@unknown@formal@none@1@S@It sank further to as low as $145, but a big rally developed in the last half hour, pushing the stock back up to close at $170, down just $8.375 from Monday.@@@@1@32@@oe@2-2-2013
21171006@unknown@formal@none@1@S@In the process, 4.9 million shares traded, making UAL the second most active issue on the Big Board.@@@@1@18@@oe@2-2-2013
21171007@unknown@formal@none@1@S@Munching pizza when they could and yelling until their voices gave out, the two Benjamin Jacobson specialists at the Big Board's UAL trading post yesterday presided over what can only be described as a financial free-for-all.@@@@1@36@@oe@2-2-2013
21171008@unknown@formal@none@1@S@"It was chaotic.@@@@1@3@@oe@2-2-2013
21171009@unknown@formal@none@1@S@But we like to call it 'controlled chaos,'" said 47-year-old Robert J. Jacobson Jr., grandson of the firm's founder.@@@@1@19@@oe@2-2-2013
21171010@unknown@formal@none@1@S@He manned the UAL post yesterday with Christopher Bates, 33, an energetic Long Islander who's a dead ringer for actor Nicolas Cage.@@@@1@22@@oe@2-2-2013
21171011@unknown@formal@none@1@S@Who was doing all the selling?@@@@1@6@@oe@2-2-2013
21171012@unknown@formal@none@1@S@"Options traders, arbitrage traders -- everyone," said Mr. Bates, cooling down with a carton of apple juice after the close yesterday.@@@@1@21@@oe@2-2-2013
21171013@unknown@formal@none@1@S@Added Mr. Jacobson, "There were some pretty bad losses in the stock."@@@@1@12@@oe@2-2-2013
21171014@unknown@formal@none@1@S@Big Board traders said a 200,000-share buy order at $150 a share entered by Bear, Stearns & Co., which was active in UAL stock all day, is what set off the UAL crowd in the late afternoon.@@@@1@37@@oe@2-2-2013
21171015@unknown@formal@none@1@S@A subsequent rally in UAL helped the staggering stock market stage an astonishing recovery from an 80-point deficit to finish only slightly below Monday's close.@@@@1@25@@oe@2-2-2013
21171016@unknown@formal@none@1@S@Both Jacobson traders, who had been hoping UAL trading would get back to normal, read the news about the unraveling of UAL takeover plans on the train into work yesterday morning.@@@@1@31@@oe@2-2-2013
21171017@unknown@formal@none@1@S@The news told them it would be a while longer before UAL resumed trading like a regular airline stock after months of gyrations.@@@@1@23@@oe@2-2-2013
21171018@unknown@formal@none@1@S@When Mr. Jacobson walked into the office at 7:30 a.m. EDT, he announced: "OK, buckle up."@@@@1@16@@oe@2-2-2013
21171019@unknown@formal@none@1@S@Messrs. Jacobson and Bates walked on the Big Board floor at about 8:45 a.m. yesterday and immediately spotted trouble.@@@@1@19@@oe@2-2-2013
21171020@unknown@formal@none@1@S@Already entered in the Big Board's computers and transmitted to their post were sell orders for 65,000 UAL shares.@@@@1@19@@oe@2-2-2013
21171021@unknown@formal@none@1@S@The UAL news had already caused a selling furor in the so-called third market, in which firms buy and sell stock away from the exchange floor.@@@@1@26@@oe@2-2-2013
21171022@unknown@formal@none@1@S@UAL, which closed on the Big Board Monday at $178.375 a share, traded in the third market afterward as low as $158 a share.@@@@1@24@@oe@2-2-2013
21171023@unknown@formal@none@1@S@There were rumors of $148-a-share trades.@@@@1@6@@oe@2-2-2013
21171024@unknown@formal@none@1@S@In the 45 minutes before the 9:30 opening bell, the Jacobson specialists kept getting sell orders, heavier than they imagined.@@@@1@20@@oe@2-2-2013
21171025@unknown@formal@none@1@S@And at 9:15, they posted a $135 to $155 "first indication," or the price range in which the stock would probably open.@@@@1@22@@oe@2-2-2013
21171026@unknown@formal@none@1@S@That range was quickly narrowed to $145 to $155, although traders surrounding the post were told that $148 to $150 would be the likely target.@@@@1@25@@oe@2-2-2013
21171027@unknown@formal@none@1@S@When UAL finally opened a half hour late, some 400,000 shares traded at $150.@@@@1@14@@oe@2-2-2013
21171028@unknown@formal@none@1@S@There was "selling pressure from everyone," said one trader.@@@@1@9@@oe@2-2-2013
21171029@unknown@formal@none@1@S@This month's Friday-the-13th market plunge spurred by UAL news wasn't as bad for the Jacobson specialists as yesterday's action.@@@@1@19@@oe@2-2-2013
21171030@unknown@formal@none@1@S@On that earlier day, the stock's trading was halted at a critical time so the specialists could catch their breath.@@@@1@20@@oe@2-2-2013
21171031@unknown@formal@none@1@S@Not yesterday.@@@@1@2@@oe@2-2-2013
21171032@unknown@formal@none@1@S@Mr. Jacobson, his gray hair flying, didn't wear out his red-white-and-blue sneakers, but he sweat so much he considered sending out for a new shirt.@@@@1@25@@oe@2-2-2013
21171033@unknown@formal@none@1@S@Mr. Bates usually handles day-to-day UAL trading on his own.@@@@1@10@@oe@2-2-2013
21171034@unknown@formal@none@1@S@But yesterday, the heavy trading action eventually consumed not only Messrs. Jacobson and Bates but four other Jacobson partners, all doing their specialist-firm job of tugging buyers and sellers together and adjusting prices to accommodate the market.@@@@1@37@@oe@2-2-2013
21171035@unknown@formal@none@1@S@About 30 floor traders crammed near the UAL post most of the day, and probably hundreds more came and went -- a "seething mass," as one trader described it.@@@@1@29@@oe@2-2-2013
21171036@unknown@formal@none@1@S@The 4.9 million-share volume flowing through the Jacobson specialist operation was about five times normal for the stock.@@@@1@18@@oe@2-2-2013
21171037@unknown@formal@none@1@S@The heavy buying in the last half hour led the specialists to take special steps.@@@@1@15@@oe@2-2-2013
21171038@unknown@formal@none@1@S@The Bear Stearns order that marked the late-day turnaround caused a "massive buying effort" as UAL jumped $20 a share to $170 in the last half hour, said Mr. Bates.@@@@1@30@@oe@2-2-2013
21171039@unknown@formal@none@1@S@With 15 seconds of trading to go, Mr. Jacobson, with what voice he had left, announced to the trading mob: "We're going to trade one price on the bell."@@@@1@29@@oe@2-2-2013
21171040@unknown@formal@none@1@S@That meant no trading would occur in the final seconds, as a way of making sure that last-second orders aren't subjected to a sudden price swing that would upset customers.@@@@1@30@@oe@2-2-2013
21171041@unknown@formal@none@1@S@About 11,000 shares sold at $170 on the bell, representing about eight to 10 late orders, the specialists estimate.@@@@1@19@@oe@2-2-2013
21171042@unknown@formal@none@1@S@Big Board traders praised the Jacobson specialists for getting through yesterday without a trading halt.@@@@1@15@@oe@2-2-2013
21171043@unknown@formal@none@1@S@In Chicago, a UAL spokesman, "by way of policy," declined to comment on the company's stock or the specialists' performance.@@@@1@20@@oe@2-2-2013
21171044@unknown@formal@none@1@S@Leaving the exchange at about 5 p.m., the Jacobson specialists made no predictions about how trading might go today.@@@@1@19@@oe@2-2-2013
21171045@unknown@formal@none@1@S@Said Earl Ellis, a Jacobson partner who got involved in the UAL action, "It all starts all over again" today.@@@@1@20@@oe@2-2-2013
21172001@unknown@formal@none@1@S@Britain's current account deficit dropped to #1.6 billion ($2.56 billion) in September from an adjusted #2 billion ($3.21 billion) the previous month, but the improvement comes amid increasing concern that a recession could strike the U.K. economy next year.@@@@1@39@@oe@2-2-2013
21172002@unknown@formal@none@1@S@The Confederation of British Industry's latest survey shows that business executives expect a pronounced slowdown, largely because of a 16-month series of interest-rate increases that has raised banks' base lending rates to 15%.@@@@1@33@@oe@2-2-2013
21172003@unknown@formal@none@1@S@"The outlook has deteriorated since the summer, with orders and employment falling and output at a standstill," said David Wigglesworth, chairman of the industry group's economic committee.@@@@1@27@@oe@2-2-2013
21172004@unknown@formal@none@1@S@He also said investment by businesses is falling off.@@@@1@9@@oe@2-2-2013
21172005@unknown@formal@none@1@S@Of 1,224 companies surveyed, 31% expect to cut spending on plant equipment and machinery, while only 28% plan to spend more.@@@@1@21@@oe@2-2-2013
21172006@unknown@formal@none@1@S@But despite mounting recession fears, government data don't yet show the economy grinding to a halt.@@@@1@16@@oe@2-2-2013
21172007@unknown@formal@none@1@S@Unemployment, for example, has continued to decline, and the September trade figures showed increases in both imports and exports.@@@@1@19@@oe@2-2-2013
21172008@unknown@formal@none@1@S@As a result, Prime Minister Margaret Thatcher's government isn't currently expected to ease interest rates before next spring, if then.@@@@1@20@@oe@2-2-2013
21172009@unknown@formal@none@1@S@Chancellor of the Exchequer Nigel Lawson views the high rates as his chief weapon against inflation, which was ignited by tax cuts and loose credit policies in 1986 and 1987.@@@@1@30@@oe@2-2-2013
21172010@unknown@formal@none@1@S@Officials fear that any loosening this year could rekindle inflation or further weaken the pound against other major currencies.@@@@1@19@@oe@2-2-2013
21172011@unknown@formal@none@1@S@Fending off attacks on his economic policies in a House of Commons debate yesterday, Mr. Lawson said inflation "remains the greatest threat to our economic well-being" and promised to take "whatever steps are needed" to choke it off.@@@@1@38@@oe@2-2-2013
21172012@unknown@formal@none@1@S@The latest government figures said retail prices in September were up 7.6% from a year earlier.@@@@1@16@@oe@2-2-2013
21172013@unknown@formal@none@1@S@Many economists have started predicting a mild recession next year.@@@@1@10@@oe@2-2-2013
21172014@unknown@formal@none@1@S@David Owen, U.K. economist with Kleinwort Benson Group, reduced his growth forecast for 1990 to 0.7% from 1.2% and termed the risk of recession next year "quite high."@@@@1@28@@oe@2-2-2013
21172015@unknown@formal@none@1@S@But he said the downturn probably won't become a "major contraction" similar to those of 1974 and 1982.@@@@1@18@@oe@2-2-2013
21172016@unknown@formal@none@1@S@Still, Britain's current slump is a cause for concern here as the nation joins in the European Community's plan to create a unified market by 1992.@@@@1@26@@oe@2-2-2013
21172017@unknown@formal@none@1@S@Compared with the major economies on the Continent, the U.K. faces both higher inflation and lower growth in the next several months.@@@@1@22@@oe@2-2-2013
21172018@unknown@formal@none@1@S@As a result, Mr. Owen warned, investment will be more likely to flow toward the other European economies and "the U.K. will be less prepared for the single market."@@@@1@29@@oe@2-2-2013
21172019@unknown@formal@none@1@S@Britain's latest trade figures contained some positive news for the economy, such as a surge in the volume of exports, which were 8.5% higher than a year earlier.@@@@1@28@@oe@2-2-2013
21172020@unknown@formal@none@1@S@But while September exports rose to #8.43 billion, imports shot up to #10.37 billion.@@@@1@14@@oe@2-2-2013
21172021@unknown@formal@none@1@S@The resulting #1.9 billion merchandise trade deficit was partly offset by an assumed surplus of #300 million in so-called invisible items, which include income from investments, services and official transfers.@@@@1@30@@oe@2-2-2013
21172022@unknown@formal@none@1@S@Despite the narrowing of the monthly trade gap, economists expect the current account deficit for all of 1989 to swell to about #20 billion from #14.6 billion in 1988.@@@@1@29@@oe@2-2-2013
21172023@unknown@formal@none@1@S@Increasingly, economists say the big deficit reflects the slipping competitive position of British industry.@@@@1@14@@oe@2-2-2013
21172024@unknown@formal@none@1@S@"When the country gets wealthier, we tend to buy high-quality imports," Mr. Owen said.@@@@1@14@@oe@2-2-2013
21173001@unknown@formal@none@1@S@Vickers PLC, a British aerospace, defense and automotive conglomerate, said it reached an agreed cash bid of #108.2 million ($173.3 million) for Ross Catherall Group PLC, a maker of specialty alloy and ceramics.@@@@1@33@@oe@2-2-2013
21173002@unknown@formal@none@1@S@The company said it expects to receive acceptances for its offer of 253 pence ($4.05) per share representing at least 67% of Ross Catherall's issued share capital, or 12.7 million ordinary shares.@@@@1@32@@oe@2-2-2013
21173003@unknown@formal@none@1@S@Vickers said its offer also includes an option to receive a redeemable loan note in lieu of cash.@@@@1@18@@oe@2-2-2013
21173004@unknown@formal@none@1@S@The notes can be redeemed starting in July 1991.@@@@1@9@@oe@2-2-2013
21173005@unknown@formal@none@1@S@The company said its acquisition of Ross Catherall will be covered largely by cash raised in its July disposal of Howson-Algraphy for #241.7 million.@@@@1@24@@oe@2-2-2013
21174001@unknown@formal@none@1@S@If bluebloods won't pay high prices for racehorses anymore, who will?@@@@1@11@@oe@2-2-2013
21174002@unknown@formal@none@1@S@Breeders are betting on the common folk.@@@@1@7@@oe@2-2-2013
21174003@unknown@formal@none@1@S@The Thoroughbred Owners and Breeders Association, a Lexington, Ky.-based trade group, has launched "seminars" for "potential investors" at race tracks around the country.@@@@1@23@@oe@2-2-2013
21174004@unknown@formal@none@1@S@The group, which has held half a dozen seminars so far, also is considering promotional videos and perhaps a pitch to Wall Street investment bankers.@@@@1@25@@oe@2-2-2013
21174005@unknown@formal@none@1@S@"People in this business have been insulated," says Josh Pons, a horse breeder from Bel Air, Md.@@@@1@17@@oe@2-2-2013
21174006@unknown@formal@none@1@S@"But the real future of this game is in a number of people owning a few horses."@@@@1@17@@oe@2-2-2013
21174007@unknown@formal@none@1@S@At the Laurel race track, the breeders are romancing people like Tim Hulings, a beer packaging plant worker.@@@@1@18@@oe@2-2-2013
21174008@unknown@formal@none@1@S@Right now, Mr. Hulings is waving his racing program, cheering for Karnak on the Nile, a sleek thoroughbred galloping down the home stretch.@@@@1@23@@oe@2-2-2013
21174009@unknown@formal@none@1@S@Mr. Hulings gloats that he sold all his stocks a week before the market plummeted 190 points on Oct. 13, and he is using the money to help buy a 45-acre horse farm.@@@@1@33@@oe@2-2-2013
21174010@unknown@formal@none@1@S@"Just imagine how exciting that would be if that's your horse," he says.@@@@1@13@@oe@2-2-2013
21174011@unknown@formal@none@1@S@But experts caution that this isn't a game for anyone with a weak stomach or wallet.@@@@1@16@@oe@2-2-2013
21174012@unknown@formal@none@1@S@"It's a big-risk business," warns Charles C. Mihalek, a Lexington attorney and former Kentucky state securities commissioner.@@@@1@17@@oe@2-2-2013
21174013@unknown@formal@none@1@S@"You have to go into it firmly believing that it's the kind of investment where you can lose everything."@@@@1@19@@oe@2-2-2013
21174014@unknown@formal@none@1@S@And many have done just that.@@@@1@6@@oe@2-2-2013
21174015@unknown@formal@none@1@S@Consider Spendthrift Farm, a prominent Lexington horse farm that went public in 1983 but hit hard times and filed for bankruptcy-court protection last year.@@@@1@24@@oe@2-2-2013
21174016@unknown@formal@none@1@S@A group of investors recently bought the remaining assets of Spendthrift, hoping to rebuild it.@@@@1@15@@oe@2-2-2013
21174017@unknown@formal@none@1@S@Other investors have lost millions in partnerships that bought thoroughbred racehorses or stallion breeding rights.@@@@1@15@@oe@2-2-2013
21174018@unknown@formal@none@1@S@One big problem has been the thoroughbred racehorse market.@@@@1@9@@oe@2-2-2013
21174019@unknown@formal@none@1@S@From 1974 to 1984, prices for the best yearlings at the summer sales rose 918% to an average of $544,681.@@@@1@20@@oe@2-2-2013
21174020@unknown@formal@none@1@S@Since then, prices have slumped, to an average of $395,374 this summer.@@@@1@12@@oe@2-2-2013
21174021@unknown@formal@none@1@S@But that's for the best horses, with most selling for much less -- as little as $100 for some pedestrian thoroughbreds.@@@@1@21@@oe@2-2-2013
21174022@unknown@formal@none@1@S@Even while they move outside their traditional tony circle, racehorse owners still try to capitalize on the elan of the sport.@@@@1@21@@oe@2-2-2013
21174023@unknown@formal@none@1@S@Glossy brochures circulated at racetracks gush about the limelight of the winner's circle and high-society schmoozing.@@@@1@16@@oe@2-2-2013
21174024@unknown@formal@none@1@S@One handout promises: "Pedigrees, parties, post times, parimutuels and pageantry."@@@@1@10@@oe@2-2-2013
21174025@unknown@formal@none@1@S@"It's just a matter of marketing and promoting ourselves," says Headley Bell, a fifth-generation horse breeder from Lexington.@@@@1@18@@oe@2-2-2013
21174026@unknown@formal@none@1@S@Maybe it's not that simple.@@@@1@5@@oe@2-2-2013
21174027@unknown@formal@none@1@S@For starters, racehorse buyers have to remember the basic problem of such ventures: These beasts don't come with warranties.@@@@1@19@@oe@2-2-2013
21174028@unknown@formal@none@1@S@And for every champion, there are plenty of nags.@@@@1@9@@oe@2-2-2013
21174029@unknown@formal@none@1@S@Katherine Voss, a veteran trainer at the Laurel, Md., track, offers neophytes a sobering tour of a horse barn, noting that only three of about a dozen horses have won sizable purses.@@@@1@32@@oe@2-2-2013
21174030@unknown@formal@none@1@S@One brown two-year-old filly was wheezing from a cold, while another had splints on its legs, keeping both animals from the racetrack.@@@@1@22@@oe@2-2-2013
21174031@unknown@formal@none@1@S@"You can see the highs and lows of the business all under one roof," she tells the group.@@@@1@18@@oe@2-2-2013
21174032@unknown@formal@none@1@S@"There aren't too many winners."@@@@1@5@@oe@2-2-2013
21174033@unknown@formal@none@1@S@Perhaps the biggest hurdle owners face is convincing newcomers that this is a reputable business.@@@@1@15@@oe@2-2-2013
21174034@unknown@formal@none@1@S@Some badly managed partnerships have burned investors, sometimes after they received advice from industry "consultants."@@@@1@15@@oe@2-2-2013
21174035@unknown@formal@none@1@S@So owners have developed a "code of ethics," outlining rules for consultants and agents, and disclosure of fees and any conflicts of interest.@@@@1@23@@oe@2-2-2013
21174036@unknown@formal@none@1@S@But some are skeptical of the code's effectiveness.@@@@1@8@@oe@2-2-2013
21174037@unknown@formal@none@1@S@"The industry is based on individual honesty," says Cap Hershey, a Lexington horse farmer and one of the investors who bought Spendthrift.@@@@1@22@@oe@2-2-2013
21174038@unknown@formal@none@1@S@Despite the drop in prices for thoroughbreds, owning one still isn't cheap.@@@@1@12@@oe@2-2-2013
21174039@unknown@formal@none@1@S@At the low end, investors can spend $15,000 or more to own a racehorse in partnership with others.@@@@1@18@@oe@2-2-2013
21174040@unknown@formal@none@1@S@At a yearling sale, a buyer can go solo and get a horse for a few thousand dollars.@@@@1@18@@oe@2-2-2013
21174041@unknown@formal@none@1@S@But that means paying the horse's maintenance; on average, it costs $25,000 a year to raise a horse.@@@@1@18@@oe@2-2-2013
21174042@unknown@formal@none@1@S@For those looking for something between a minority stake and total ownership, the owners' group is considering a special sale where established horse breeders would sell a 50% stake in horses to newcomers.@@@@1@33@@oe@2-2-2013
21175001@unknown@formal@none@1@S@BUELL INDUSTRIES Inc. halved its quarterly dividend to five cents a share, payable Nov. 17 to stock of record Nov. 3.@@@@1@21@@oe@2-2-2013
21175002@unknown@formal@none@1@S@The company's quarterly dividend had been 10 cents a share since April 30, 1988.@@@@1@14@@oe@2-2-2013
21175003@unknown@formal@none@1@S@Buell recently said it would incur an aftertax charge of about $3.6 million in its fourth quarter ending Tuesday, in connection with the sale and discontinuance of several lines at a plant.@@@@1@32@@oe@2-2-2013
21175004@unknown@formal@none@1@S@The Waterbury, Conn., maker of industrial fasteners and metal stampings has 2.3 million shares outstanding.@@@@1@15@@oe@2-2-2013
21176001@unknown@formal@none@1@S@Dunkin' Donuts Inc., battling a takeover proposal by Canada's DD Acquisition Corp., said that its directors will evaluate takeover offers submitted by Nov. 10.@@@@1@24@@oe@2-2-2013
21176002@unknown@formal@none@1@S@Dunkin' Donuts, based in Randolph, Mass., previously said it would explore "alternatives," including a leveraged buy-out of the company, but hadn't set a date for submission of proposals.@@@@1@28@@oe@2-2-2013
21176003@unknown@formal@none@1@S@Dunkin' Donuts Chairman and Chief Executive Robert M. Rosenberg said "a sale is one alternative being considered," but he added the board hasn't decided whether to sell the doughnut franchiser.@@@@1@30@@oe@2-2-2013
21176004@unknown@formal@none@1@S@DD Acquisition, jointly owned by Unicorp Canada Corp.'s Kingsbridge Capital Group unit and Cara Operations Ltd., has made a $45-a-share tender offer valued at $268 million for Dunkin' Donuts.@@@@1@29@@oe@2-2-2013
21176005@unknown@formal@none@1@S@Dunkin' Donuts' announcement followed DD Acquisition's request to the Delaware Court of Chancery Monday to set a trial date for its suit against the company.@@@@1@25@@oe@2-2-2013
21176006@unknown@formal@none@1@S@The trial had been postponed to allow Dunkin' Donuts to seek alternatives to DD Acquisition's offer.@@@@1@16@@oe@2-2-2013
21177001@unknown@formal@none@1@S@Combustion Engineering Inc. said third-quarter net income of $22.8 million, reversing a $91.7 million year-earlier loss.@@@@1@16@@oe@2-2-2013
21177002@unknown@formal@none@1@S@The Stamford, Conn., power-generation products and services company said per-share earnings were 56 cents compared with the year-ago loss of $2.39.@@@@1@21@@oe@2-2-2013
21177003@unknown@formal@none@1@S@Sales fell 1.5% to $884 million from $897.2 million.@@@@1@9@@oe@2-2-2013
21177004@unknown@formal@none@1@S@Strong profit in the process industries, including chemical and pulp and paper, were offset by higher interest expense and by lower earnings as the company closed out certain long-term contracts.@@@@1@30@@oe@2-2-2013
21177005@unknown@formal@none@1@S@Combustion reported improved profits in its automation and control products businesses, and it narrowed its losses in its public sector and environmental segment.@@@@1@23@@oe@2-2-2013
21177006@unknown@formal@none@1@S@Power generation had higher sales but lower earnings; the company cited factors including work on certain low profit-margin contracts from previous years.@@@@1@22@@oe@2-2-2013
21177007@unknown@formal@none@1@S@Net in the latest quarter included a pretax gain of $22.4 million from the sale of Combustion's minority interest in Stein Industrie to GEC Alsthom N.V. of the Netherlands.@@@@1@29@@oe@2-2-2013
21177008@unknown@formal@none@1@S@Last year's results reflected a gain of $28.2 million on disposition of assets and a $165 million pretax provision mainly from costs of completing certain waste-to-energy and other power plants.@@@@1@30@@oe@2-2-2013
21178001@unknown@formal@none@1@S@Claude Bebear, chairman and chief executive officer, of Axa-Midi Assurances, pledged to retain employees and management of Farmers Group Inc., including Leo E. Denlea Jr., chairman and chief executive officer, if Axa succeeds in acquiring Farmers.@@@@1@36@@oe@2-2-2013
21178002@unknown@formal@none@1@S@Mr. Bebear added that the French insurer would keep Farmers' headquarters in Los Angeles and "will not send French people to run the company."@@@@1@24@@oe@2-2-2013
21178003@unknown@formal@none@1@S@Axa would also maintain Farmers' relationships with the insurance exchanges that it manages.@@@@1@13@@oe@2-2-2013
21178004@unknown@formal@none@1@S@Mr. Bebear made his remarks at a breakfast meeting with reporters here yesterday as part of a tour in which he is trying to rally support in the U.S. for the proposed acquisition.@@@@1@33@@oe@2-2-2013
21178005@unknown@formal@none@1@S@The bid is part of Sir James Goldsmith's unfriendly takeover attempt for B.A.T Industries PLC, the British tobacco, retailing, paper and financial-services giant that acquired Farmers last year for $5.2 billion.@@@@1@31@@oe@2-2-2013
21178006@unknown@formal@none@1@S@Axa has agreed to acquire Farmers from Sir James's investment vehicle, Hoylake Investments Ltd., for $4.5 billion plus a $1 billion investment in Hoylake.@@@@1@24@@oe@2-2-2013
21178007@unknown@formal@none@1@S@Any acquisition of Farmers needs the approval of insurance commissioners in the nine states where Farmers operates, and Mr. Bebear's trip will take him to Idaho, Arizona and New York after his stay here; he will meet with insurance regulators, legislators, industry excutives and the press.@@@@1@46@@oe@2-2-2013
21178008@unknown@formal@none@1@S@Hearings on Axa's acquisition application have been set for Nov. 13 in Idaho; Nov. 20 in Illinois; Nov. 24 and Dec. 4 in Arizona; Dec. 11 in Washington state; and Jan. 8 in Oregon.@@@@1@34@@oe@2-2-2013
21178009@unknown@formal@none@1@S@Hearings haven't yet been set in Texas, Ohio and Kansas.@@@@1@10@@oe@2-2-2013
21178010@unknown@formal@none@1@S@California's insurance commissioner doesn't hold hearings on acquisition applications.@@@@1@9@@oe@2-2-2013
21178011@unknown@formal@none@1@S@Although Axa has been rebuffed by Farmers and hasn't had any meetings with management, Mr. Bebear nonetheless appears to be trying to woo the company's executives with promises of autonomy and new-found authority under Axa.@@@@1@35@@oe@2-2-2013
21178012@unknown@formal@none@1@S@He said Mr. Denlea would be a member of the top management team of the Axa-Midi group of companies, and would "help define policies and strategies of the group."@@@@1@29@@oe@2-2-2013
21178013@unknown@formal@none@1@S@Farmers was quick yesterday to point out the many negative aspects it sees in having Axa as its parent.@@@@1@19@@oe@2-2-2013
21178014@unknown@formal@none@1@S@For one, Axa plans to do away with certain tax credits that have resulted in more than $600 million paid to the Farmers exchanges during the past few years to offset underwriting losses.@@@@1@33@@oe@2-2-2013
21178015@unknown@formal@none@1@S@Those credits result because of taxes that Farmers, as the management company, has paid, and have "proved to be very important for the exchanges," a Farmers spokesman said.@@@@1@28@@oe@2-2-2013
21178016@unknown@formal@none@1@S@Mr. Bebear contended that the tax cost to the exchanges under the revised structure would be about $8 million a year, which he described as "peanuts.@@@@1@26@@oe@2-2-2013
21179001@unknown@formal@none@1@S@Honeywell Inc., Minneapolis, said it completed its previously announced sale of 16% of the shares outstanding in its Japanese joint venture, Yamatake-Honeywell, for $280 million.@@@@1@25@@oe@2-2-2013
21179002@unknown@formal@none@1@S@The stake was acquired by a group of 10 Japanese financial institutions and industrial corporations, primarily insurance companies, Honeywell said.@@@@1@20@@oe@2-2-2013
21179003@unknown@formal@none@1@S@Proceeds will be used to repurchase as many as 10 million shares of Honeywell stock, as previously announced.@@@@1@18@@oe@2-2-2013
21179004@unknown@formal@none@1@S@Honeywell said a second sale of Yamatake-Honeywell is still being negotiated.@@@@1@11@@oe@2-2-2013
21179005@unknown@formal@none@1@S@The company, which now holds a 34% stake in the venture, has indicated that it intends to retain at least a 20% stake long term.@@@@1@25@@oe@2-2-2013
21179006@unknown@formal@none@1@S@A 20% stake would allow Honeywell to include Yamatake earnings in its results.@@@@1@13@@oe@2-2-2013
21179007@unknown@formal@none@1@S@A company spokesman said the gain on the sale couldn't be estimated until the "tax treatment has been determined.@@@@1@19@@oe@2-2-2013
21180001@unknown@formal@none@1@S@OPPENHEIMER CAPITAL LIMITED PARTNERSHIP increased the quarterly distribution to 40 cents a limited partnership unit from 36.25 cents.@@@@1@18@@oe@2-2-2013
21180002@unknown@formal@none@1@S@The distribution represents available cash flow from the partnership between Aug. 1 and Oct. 31.@@@@1@15@@oe@2-2-2013
21180003@unknown@formal@none@1@S@It is payable Nov. 30 to units of record Oct. 31.@@@@1@11@@oe@2-2-2013
21180004@unknown@formal@none@1@S@The money manager is controlled 67.7% by its top officers and top officers of Oppenheimer & Co., a securities firm.@@@@1@20@@oe@2-2-2013
21180005@unknown@formal@none@1@S@Both firms are in New York.@@@@1@6@@oe@2-2-2013
21180006@unknown@formal@none@1@S@Oppenheimer Capital has about 7.9 million limited partnership units outstanding.@@@@1@10@@oe@2-2-2013
21180007@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, the units closed at $15.125, up 12.5 cents.@@@@1@16@@oe@2-2-2013
21181001@unknown@formal@none@1@S@Bank of Montreal said it added 850 million Canadian dollars (US$725.8 million) to its reserves against losses on Third World loans, bringing the total it has set aside this year to C$1 billion.@@@@1@33@@oe@2-2-2013
21181002@unknown@formal@none@1@S@The bank said the C$1 billion in reserves will result in a charge of C$595 million against earnings but said it still expects to report a profit for the year ending Tuesday.@@@@1@32@@oe@2-2-2013
21181003@unknown@formal@none@1@S@The bank reported net income of C$389 million for the nine months ended July 31.@@@@1@15@@oe@2-2-2013
21181004@unknown@formal@none@1@S@The bank said the increase in loan-loss provisions won't affect the payment of dividends.@@@@1@14@@oe@2-2-2013
21181005@unknown@formal@none@1@S@The bank said reserves now amount to 61% of its total less-developed-country exposure.@@@@1@13@@oe@2-2-2013
21181006@unknown@formal@none@1@S@Excluding Mexico, reserves equal 95% of LDC exposure.@@@@1@8@@oe@2-2-2013
21181007@unknown@formal@none@1@S@In Toronto Stock Exchange trading, Bank of Montreal closed at C$33.25, up 87.5 Canadian cents.@@@@1@15@@oe@2-2-2013
21182001@unknown@formal@none@1@S@Knight-Ridder Inc. said third-quarter earnings jumped 18%, partly because of the sale of two of its media properties.@@@@1@18@@oe@2-2-2013
21182002@unknown@formal@none@1@S@The media concern said net income rose to $37.8 million, or 72 cents a share, from $32 million, or 57 cents a share, in the year-earlier period.@@@@1@27@@oe@2-2-2013
21182003@unknown@formal@none@1@S@The latest results include a gain of $4.2 million, or eight cents a share, on the sale of television stations in Oklahoma City and Flint, Mich.@@@@1@26@@oe@2-2-2013
21182004@unknown@formal@none@1@S@Revenue increased 7.5% to $540.9 million from $503.1 million.@@@@1@9@@oe@2-2-2013
21182005@unknown@formal@none@1@S@Robert F. Singleton, Knight-Ridder's chief financial officer, said the company was "pleased" with its overall performance, despite only single-digit growth in newspaper revenue.@@@@1@23@@oe@2-2-2013
21182006@unknown@formal@none@1@S@That division's revenue rose 2.3% to $472.5 million from $461.9 million in the year-ago period.@@@@1@15@@oe@2-2-2013
21182007@unknown@formal@none@1@S@Gains in advertising revenue, however, resulted in operating profit of $78.4 million -- up 20% from $65.6 million.@@@@1@18@@oe@2-2-2013
21182008@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Knight Ridder closed at $51.50 a share, down 12.5 cents.@@@@1@17@@oe@2-2-2013
21183001@unknown@formal@none@1@S@ALBERTA ENERGY Co., Calgary, said it filed a preliminary prospectus for an offering of common shares.@@@@1@16@@oe@2-2-2013
21183002@unknown@formal@none@1@S@The natural resources development concern said proceeds will be used to repay long-term debt, which stood at 598 million Canadian dollars (US$510.6 million) at the end of 1988.@@@@1@28@@oe@2-2-2013
21183003@unknown@formal@none@1@S@The company plans to raise between C$75 million and C$100 million from the offering, according to a spokeswoman at Richardson Greenshields of Canada Ltd., lead underwriter.@@@@1@26@@oe@2-2-2013
21183004@unknown@formal@none@1@S@The shares will be priced in early November, she said.@@@@1@10@@oe@2-2-2013
21184001@unknown@formal@none@1@S@General Electric Co. executives and lawyers provided "misleading and false" information to the Pentagon in 1985 in an effort to cover up "longstanding fraudulent" billing practices, federal prosecutors alleged in legal briefs.@@@@1@32@@oe@2-2-2013
21184002@unknown@formal@none@1@S@The government's startling allegations, filed only days before the scheduled start of a criminal overcharge trial against GE in Philadelphia federal district court, challenge the motives and veracity of the nation's third-largest defense contractor.@@@@1@34@@oe@2-2-2013
21184003@unknown@formal@none@1@S@In a strongly worded response summarizing a filing made in the same court yesterday, GE asserted that "prosecutors have misstated the testimony of witnesses, distorted documents and ignored important facts."@@@@1@30@@oe@2-2-2013
21184004@unknown@formal@none@1@S@The company attacked the government's allegations as "reckless and baseless mudslinging," and said its management "promptly and accurately reported" to the Pentagon all relevant information about billing practices.@@@@1@28@@oe@2-2-2013
21184005@unknown@formal@none@1@S@The case strikes at the corporate image of GE, which provides the military with everything from jet engines and electronic warfare equipment to highly classified design work on the Strategic Defense Initiative, and could cause a loss of future defense contracts if Pentagon and Justice Department officials take a tough stance.@@@@1@51@@oe@2-2-2013
21184006@unknown@formal@none@1@S@The company has been considered an industry leader in advocating cooperation and voluntary disclosures of improper or inflated billing practices.@@@@1@20@@oe@2-2-2013
21184007@unknown@formal@none@1@S@But the government now claims that a group of company managers and lawyers engaged in an elaborate strategy over five years to obscure from federal authorities the extent and details of "widespread" fraudulent billing practices.@@@@1@35@@oe@2-2-2013
21184008@unknown@formal@none@1@S@The problems were uncovered during a series of internal investigations of the company's Space Systems division, which has been the focus of two separate overcharge prosecutions by the government since 1985.@@@@1@31@@oe@2-2-2013
21184009@unknown@formal@none@1@S@The dispute stems from pretrial maneuvering in the pending court case, in which prosecutors have been demanding access to a host of internal company memos, reports and documents.@@@@1@28@@oe@2-2-2013
21184010@unknown@formal@none@1@S@Last November, a federal grand jury indicted GE on charges of fraud and false claims in connection with an alleged scheme to defraud the Army of $21 million on a logistics computer contract.@@@@1@33@@oe@2-2-2013
21184011@unknown@formal@none@1@S@The company, for its part, maintains that many of the disputed documents are privileged attorney-client communications that shouldn't be turned over to prosecutors.@@@@1@23@@oe@2-2-2013
21184012@unknown@formal@none@1@S@A hearing is scheduled on the issue today.@@@@1@8@@oe@2-2-2013
21184013@unknown@formal@none@1@S@The government's 136-page filing covers events leading up to the current case and an earlier indictment in March 1985, when GE was accused of defrauding the Pentagon by illegally claiming cost overruns on Minuteman missile contracts.@@@@1@36@@oe@2-2-2013
21184014@unknown@formal@none@1@S@GE pleaded guilty and paid a fine of more than $1 million in the Minuteman case, which involved some of the same individuals and operations that are at the center of the dispute in the Philadelphia court.@@@@1@37@@oe@2-2-2013
21184015@unknown@formal@none@1@S@In order to show that all of its units had corrected billing problems and therefore should become eligible again for new contracts, prosecutors contend that "high-level GE executives" and company lawyers provided "misleading statements" to then-Air Force Secretary Verne Orr and other Pentagon officials during a series of meetings in 1985.@@@@1@51@@oe@2-2-2013
21184016@unknown@formal@none@1@S@Overall, the government contends that GE's disclosure efforts largely were intended to "curry favor" with Pentagon officials without detailing the extent of the management lapses and allegedly pervasive billing irregularities uncovered by company investigations.@@@@1@34@@oe@2-2-2013
21184017@unknown@formal@none@1@S@Prosecutors depict a company that allegedly sat on damaging evidence of overcharges from 1983 to 1985, despite warnings from an internal auditor.@@@@1@22@@oe@2-2-2013
21184018@unknown@formal@none@1@S@When GE finally disclosed the problems, prosecutors contend that Mr. Orr "was erroneously informed that the {suspected} practices had only just been discovered" by GE management.@@@@1@26@@oe@2-2-2013
21184019@unknown@formal@none@1@S@In its brief, the government asserted that it needs the internal GE documents to rebut anticipated efforts by GE during the trial to demonstrate "its good corporate character."@@@@1@28@@oe@2-2-2013
21184020@unknown@formal@none@1@S@GE, which was surprised by the last-minute subpoena for more than 100 boxes and file cabinets of documents, countered that senior GE managers didn't find out about questionable billing practices until 1985, and that the information was passed on quickly to Mr. Orr at his first meeting with company representatives.@@@@1@50@@oe@2-2-2013
21184021@unknown@formal@none@1@S@Subsequent meetings, initiated after the company and two of its units were briefly suspended from federal contracts, were held to familiarize Mr. Orr with the company's self-policing procedures and to disclose additional information, according to GE.@@@@1@36@@oe@2-2-2013
21184022@unknown@formal@none@1@S@GE's filing contends that the billing practices at the heart of the current controversy involved technical disputes rather than criminal activity.@@@@1@21@@oe@2-2-2013
21184023@unknown@formal@none@1@S@The company's conduct "does not even raise a question of wrongful corporate intent, ratification or cover-up," GE's brief asserts.@@@@1@19@@oe@2-2-2013
21184024@unknown@formal@none@1@S@"On the contrary, it shows a corporation reacting swiftly and aggressively to very difficult issues in largely uncharted waters."@@@@1@19@@oe@2-2-2013
21184025@unknown@formal@none@1@S@Mr. Orr couldn't be reached for comment yesterday.@@@@1@8@@oe@2-2-2013
21185001@unknown@formal@none@1@S@Applied Solar Energy Corp. of City of Industry, Calif., said it and its majority shareholder, American Cyanamid Co., signed a non-binding letter of intent for the acquisition of Applied Solar by McDonnell Douglas Corp. for about $38 million.@@@@1@38@@oe@2-2-2013
21185002@unknown@formal@none@1@S@The proposed acquisition provides for a cash payment of $10 a share at closing and a contingent payment of as much as 80 cents a share placed in escrow.@@@@1@29@@oe@2-2-2013
21185003@unknown@formal@none@1@S@Details of the escrow agreement haven't been completed, the companies said.@@@@1@11@@oe@2-2-2013
21185004@unknown@formal@none@1@S@There are 3.5 million shares of Applied Solar, of which American Cyanamid owns 2.7 million.@@@@1@15@@oe@2-2-2013
21185005@unknown@formal@none@1@S@American Cyanamid is a Wayne, N.J., chemicals, drugs and fertilizer concern.@@@@1@11@@oe@2-2-2013
21185006@unknown@formal@none@1@S@Completion of the acquisition is subject to execution of a definitive agreement, approval by all three companies' boards and the approval of Applied Solar's shareholders.@@@@1@25@@oe@2-2-2013
21185007@unknown@formal@none@1@S@An Applied Solar spokesman said completion is expected at the end of the year or early next year.@@@@1@18@@oe@2-2-2013
21185008@unknown@formal@none@1@S@A spokeswoman for the St. Louis aerospace and defense concern said it wanted the acquistion because Applied Solar is involved in solar cells and solid-state laser components, and this fits with McDonnell's business of laser applications for military space.@@@@1@39@@oe@2-2-2013
21186001@unknown@formal@none@1@S@Trading in Cineplex Odeon Corp. shares was halted on the New York and Toronto stock exchanges late yesterday afternoon at the company's request, Toronto Stock Exchange officials said.@@@@1@28@@oe@2-2-2013
21186002@unknown@formal@none@1@S@Brian Hemming, a spokesman for the company's committee of independent directors, established in May to solicit and evaluate offers for the company, said it was expected to make an announcement early this morning.@@@@1@33@@oe@2-2-2013
21186003@unknown@formal@none@1@S@But Mr. Hemming said he wasn't aware of the nature of the talks under way between committee members and their advisers.@@@@1@21@@oe@2-2-2013
21186004@unknown@formal@none@1@S@Cineplex traded on the New York Stock Exchange at $11.25 a share, up $1.125, before trading was halted.@@@@1@18@@oe@2-2-2013
21186005@unknown@formal@none@1@S@Analysts have speculated in recent days that the value of offers received by the committee fell well short of what they had hoped, or even that the company's chairman, president and chief executive officer, Garth Drabinsky, is the only bidder for the company as a whole.@@@@1@46@@oe@2-2-2013
21186006@unknown@formal@none@1@S@The current effort to auction off the company was triggered by a dispute between Mr. Drabinsky and the Toronto-based movie chain's major shareholder, MCA Inc.@@@@1@25@@oe@2-2-2013
21187001@unknown@formal@none@1@S@London share prices closed sharply lower Tuesday on the back of Wall Street's steep drop and renewed fears over U.K. economic fundamentals.@@@@1@22@@oe@2-2-2013
21187002@unknown@formal@none@1@S@Tokyo's winning streak came to an end, and stocks fell in Frankfurt and across Europe as well.@@@@1@17@@oe@2-2-2013
21187003@unknown@formal@none@1@S@London's Financial Times 100-share index shed 40.4 points to finish at 2149.3.@@@@1@12@@oe@2-2-2013
21187004@unknown@formal@none@1@S@At London's close, the Dow Jones Industrial Average was 51.23 points lower at 2611.68.@@@@1@14@@oe@2-2-2013
21187005@unknown@formal@none@1@S@Dealers said the initial pressure came from mildly disappointing U.K. trade figures for September and a worrisome report by the Confederation of British Industry that a decline in orders for manufactured goods is depressing both business optimism and investment plans for the coming year.@@@@1@44@@oe@2-2-2013
21187006@unknown@formal@none@1@S@The trade and CBI reports refocused attention on high interest rates and corporate profitability and helped rekindle underlying concerns over prospects for a recession in the U.K., dealers said.@@@@1@29@@oe@2-2-2013
21187007@unknown@formal@none@1@S@The 30-share index fell 33.3 points to 1739.3.@@@@1@8@@oe@2-2-2013
21187008@unknown@formal@none@1@S@Volume was a modest 405.4 million shares traded, but better than the year's lowest turnover of 276.8 million Monday.@@@@1@19@@oe@2-2-2013
21187009@unknown@formal@none@1@S@Market watchers also noted an absence of institutional interest later in the session helped pave the way for broader declines when Wall Street opened weaker.@@@@1@25@@oe@2-2-2013
21187010@unknown@formal@none@1@S@They added that market-makers were knocking share prices down in midafternoon in a bid to attract some interest, but the action largely helped open the way for London's late declines.@@@@1@30@@oe@2-2-2013
21187011@unknown@formal@none@1@S@Insurance stocks provided some early support to the market, partly on favorable brokerage recommendatons and talk of continental European interest in British life and composite insurers.@@@@1@26@@oe@2-2-2013
21187012@unknown@formal@none@1@S@British life insurer London & General, which firmed 2 pence to 356 pence ($5.70), and composite insurer Royal Insurance, which finished 13 lower at 475, were featured in the talk.@@@@1@30@@oe@2-2-2013
21187013@unknown@formal@none@1@S@On the life insurance side, Pearl Group finished 5 lower at 640, and Sun Life dropped 15 to #11.53.@@@@1@19@@oe@2-2-2013
21187014@unknown@formal@none@1@S@Jaguar finished 4 lower at 694.@@@@1@6@@oe@2-2-2013
21187015@unknown@formal@none@1@S@Dealers said the market didn't react substantially to Ford Motor Co.'s disclosure to the U.S. Securities and Exchange Commission that it will seek 100% of Jaguar's shares outstanding when U.K. government share regulations are lifted at the end of next year.@@@@1@41@@oe@2-2-2013
21187016@unknown@formal@none@1@S@Tokyo stocks closed easier, posting their first loss in six trading days, partly because of programmed index-linked selling by trust investment funds in the afternoon session.@@@@1@26@@oe@2-2-2013
21187017@unknown@formal@none@1@S@The Nikkei index fell 58.97 points to 35526.55.@@@@1@8@@oe@2-2-2013
21187018@unknown@formal@none@1@S@The index gained 99.14 points Monday.@@@@1@6@@oe@2-2-2013
21187019@unknown@formal@none@1@S@In early trading in Tokyo Wednesday, the Nikkei index rose 17.92 points to 35544.47.@@@@1@14@@oe@2-2-2013
21187020@unknown@formal@none@1@S@On Tuesday, the Tokyo stock price index of all first section issues was down 6.31 at 2681.22.@@@@1@17@@oe@2-2-2013
21187021@unknown@formal@none@1@S@First section volume was estimated at 900 million shares, up from 605 million Monday.@@@@1@14@@oe@2-2-2013
21187022@unknown@formal@none@1@S@Observers said the market again failed to find a trading focus, discouraging much participation by investors.@@@@1@16@@oe@2-2-2013
21187023@unknown@formal@none@1@S@The market, however, is expected to remain stable and expectations for future gains are high, traders said.@@@@1@17@@oe@2-2-2013
21187024@unknown@formal@none@1@S@Such sentiment is being supported by word that a large amount of cash from investment trust funds is scheduled to enter the market later this week and in early November.@@@@1@30@@oe@2-2-2013
21187025@unknown@formal@none@1@S@The expected amount is said to be 700 billion yen ($4.93 billion) to 1.05 trillion yen -- the second largest amount this year in a given period, following the record high set at the end of July, according to market observers.@@@@1@41@@oe@2-2-2013
21187026@unknown@formal@none@1@S@In addition to a large amount of investment trust fund cash, analysts generally see the market environment improving compared with the past couple of weeks.@@@@1@25@@oe@2-2-2013
21187027@unknown@formal@none@1@S@Toshiyuki Nishimura, an analyst at Yamaichi Securities, said, "The market sentiment is bullish, simply because there are few bad factors."@@@@1@20@@oe@2-2-2013
21187028@unknown@formal@none@1@S@Buying activity Tuesday centered on a wide range of midcapitalization, domestic demand-related shares whose prices range from 1,000 to 2,000 yen.@@@@1@21@@oe@2-2-2013
21187029@unknown@formal@none@1@S@Investors expect these shares will be targets of investment trust funds, which often buy small amounts spread across a wide range of issues.@@@@1@23@@oe@2-2-2013
21187030@unknown@formal@none@1@S@On the other hand, high-priced shares such as Pioneer Electronic and Sony failed to spark investor interest because these issues are unlikely to be bought by investment trust funds, observers said.@@@@1@31@@oe@2-2-2013
21187031@unknown@formal@none@1@S@Tuesday's notable losers were highpriced shares such as Pioneer, which shed 210 yen to 5,900 yen.@@@@1@16@@oe@2-2-2013
21187032@unknown@formal@none@1@S@Sony was down 130 to 8,590.@@@@1@6@@oe@2-2-2013
21187033@unknown@formal@none@1@S@TDK fell 120 to 5,960, Fuji Photo Film declined 160 to 4,830, and Fanuc dropped 160 to 7,440.@@@@1@18@@oe@2-2-2013
21187034@unknown@formal@none@1@S@Share prices on the Frankfurt stock exchange closed sharply lower in thin dealings as worried investors remained idle as the result of two potentially destabilizing domestic developments.@@@@1@27@@oe@2-2-2013
21187035@unknown@formal@none@1@S@The DAX index fell 15.85 to end at 1507.37.@@@@1@9@@oe@2-2-2013
21187036@unknown@formal@none@1@S@Cutting against the downward trend was Continental, which jumped 4 marks to 346 marks ($187) in heavy trading on rumors that the tire maker is about to be taken over.@@@@1@30@@oe@2-2-2013
21187037@unknown@formal@none@1@S@It jumped 7.5 Monday.@@@@1@4@@oe@2-2-2013
21187038@unknown@formal@none@1@S@Traders said the market was exceptionally thin, as small investors remain on the sidelines.@@@@1@14@@oe@2-2-2013
21187039@unknown@formal@none@1@S@Market participants say investors are not only licking their wounds following the turbulence last week, but they have also been made nervous by two events in West Germany.@@@@1@28@@oe@2-2-2013
21187040@unknown@formal@none@1@S@On Sunday, the governing Christian Democratic Union suffered a series of setbacks, the extent of which became fully known only late Monday, in municipal elections in Baden-Wuerttemberg.@@@@1@27@@oe@2-2-2013
21187041@unknown@formal@none@1@S@Traders say investors are worried that the CDU won't be able to hold office in federal elections at the end of 1990.@@@@1@22@@oe@2-2-2013
21187042@unknown@formal@none@1@S@And statements by the chairman of the IG Metall labor union, Franz Steinkuehler, also cast a cloud over trading, dealers said.@@@@1@21@@oe@2-2-2013
21187043@unknown@formal@none@1@S@Mr. Steinkuehler said at a convention in West Berlin that the union has to prepare for "a big fight" to achieve its main goal of a 35-hour workweek, down from current 37-hour workweek.@@@@1@33@@oe@2-2-2013
21187044@unknown@formal@none@1@S@The decline in prices cut broadly through the blue-chip issues, as Siemens tumbled 7.5 to 544, Deutsche Bank plunged 7 to 657, and the auto makers fell sharply as well.@@@@1@30@@oe@2-2-2013
21187045@unknown@formal@none@1@S@Daimler-Benz dropped 12.5 to 710.5, Bayerische Motoren Werke dropped 10.5 to 543.5, and Volkswagen lost 7.1.@@@@1@16@@oe@2-2-2013
21187046@unknown@formal@none@1@S@Elsewhere, share prices closed lower in Zurich, Amsterdam, Milan and Stockholm.@@@@1@11@@oe@2-2-2013
21187047@unknown@formal@none@1@S@Uneasiness about Wall Street was cited in several markets.@@@@1@9@@oe@2-2-2013
21187048@unknown@formal@none@1@S@Prices closed lower in Sydney, Singapore and Wellington, were mixed in Hong Kong and higher in Taipei, Manila, Paris, Brussels and Seoul.@@@@1@22@@oe@2-2-2013
21187049@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
21187050@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
21187051@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
21188001@unknown@formal@none@1@S@Directors of Bergen Bank and Den Norske Creditbank, two of Norway's leading banks, announced they had agreed to the formal merger of the banks.@@@@1@24@@oe@2-2-2013
21188002@unknown@formal@none@1@S@The merger would create Scandinavia's seventh largest bank, with combined assets of 210 billion Norwegian kroner ($30.3 billion).@@@@1@18@@oe@2-2-2013
21188003@unknown@formal@none@1@S@The banks said an application for a concession to merge into one entity to be called Den Norske Bank AS was sent Monday to the Finance Ministry.@@@@1@27@@oe@2-2-2013
21188004@unknown@formal@none@1@S@The two boards said in a joint statement that the proposed merger agreement was considered in separate board meetings in Oslo Monday.@@@@1@22@@oe@2-2-2013
21188005@unknown@formal@none@1@S@They said the agreement will be submitted to their respective supervisory boards next Wednesday.@@@@1@14@@oe@2-2-2013
21188006@unknown@formal@none@1@S@Extraordinary general meetings, to be held Nov. 28, will decide the share exchange ratio.@@@@1@14@@oe@2-2-2013
21188007@unknown@formal@none@1@S@The merger requires the approval of Norwegian authorities.@@@@1@8@@oe@2-2-2013
21189001@unknown@formal@none@1@S@Savings and loans reject blacks for mortgage loans twice as often as they reject whites, the Office of Thrift Supervision said.@@@@1@21@@oe@2-2-2013
21189002@unknown@formal@none@1@S@But that doesn't necessarily mean thrifts are discriminating against blacks, the agency said.@@@@1@13@@oe@2-2-2013
21189003@unknown@formal@none@1@S@The office, an arm of the Treasury, said it doesn't have data on the financial position of applicants and thus can't determine why blacks are rejected more often.@@@@1@28@@oe@2-2-2013
21189004@unknown@formal@none@1@S@Nevertheless, on Capitol Hill, where the information was released yesterday at a Senate banking subcommittee hearing, lawmakers said they are worried that financial institutions are routinely discriminating against minorities.@@@@1@29@@oe@2-2-2013
21189005@unknown@formal@none@1@S@They asked regulators to suggest new ways to force banks and thrifts to comply with anti-discrimination laws.@@@@1@17@@oe@2-2-2013
21189006@unknown@formal@none@1@S@Sen. Alan Dixon (D, Ill.), chairman of the subcommittee on consumer and regulatory affairs, said, "I'm not a statistician.@@@@1@19@@oe@2-2-2013
21189007@unknown@formal@none@1@S@But when blacks are getting their loan applications rejected twice as often as whites -- and in some cities, it is three and four times as often -- I conclude that discrimination is part of the problem."@@@@1@37@@oe@2-2-2013
21189008@unknown@formal@none@1@S@James Grohl, a spokesman for the U.S. League of Savings Institutions, said, "The data is a red flag, but lacking the financial data you can't make a case that discrimination is widespread."@@@@1@32@@oe@2-2-2013
21189009@unknown@formal@none@1@S@The trade group official added: "Certainly the federal government should take a hard look at it."@@@@1@16@@oe@2-2-2013
21189010@unknown@formal@none@1@S@Sen. Dixon held the hearing to follow up on a provision in the savings and loan bailout bill that required regulators to report on evidence of discimination in mortgage lending.@@@@1@30@@oe@2-2-2013
21189011@unknown@formal@none@1@S@The legislation also requires broad new disclosures of the race, sex and income level of borrowers, but that information won't be gathered in new studies for several months at least.@@@@1@30@@oe@2-2-2013
21189012@unknown@formal@none@1@S@The Federal Reserve said its studies in recent years, which adjust for income differences and other variables, showed that blacks received fewer home mortgages from banks and thrifts than whites.@@@@1@30@@oe@2-2-2013
21189013@unknown@formal@none@1@S@But John LaWare, a Fed governor, told the subcommittee the evidence is mixed and that the Fed's believes the vast majority of banks aren't discriminating.@@@@1@25@@oe@2-2-2013
21189014@unknown@formal@none@1@S@For instance, he noted, the Fed studies have shown that blacks receive more home improvement loans than whites.@@@@1@18@@oe@2-2-2013
21189015@unknown@formal@none@1@S@Several lawmakers were angered that the bank and thrift regulators generally said they have been too busy handling the record number of bank and thrift failures in the past few years to put much energy into investigating possible discrimination.@@@@1@39@@oe@2-2-2013
21189016@unknown@formal@none@1@S@"We would be the first to admit that we have not devoted the necessary amount of emphasis over the past several years" to developing examinations for discrimination, said Jonathan Fiechter, a top official of the Office of Thrift Supervision.@@@@1@39@@oe@2-2-2013
21189017@unknown@formal@none@1@S@"If we've got folks out there who are being turned away in the mortgage market improperly and unfairly," said Sen. Donald Riegle (D., Mich.), chairman of the banking committee, "then that is a matter that needs remedy now, not six months from now, or six years from now, or 26 years from now."@@@@1@53@@oe@2-2-2013
21189018@unknown@formal@none@1@S@Officials of the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency said they have punished only a few banks for violations of anti-discrimination laws.@@@@1@29@@oe@2-2-2013
21189019@unknown@formal@none@1@S@The FDIC said it has issued five citations to banks over the past three years for discriminatory practices.@@@@1@18@@oe@2-2-2013
21189020@unknown@formal@none@1@S@The comptroller's office said it found no indications of illegal discrimination in 3,437 examinations of banks since April 1987.@@@@1@19@@oe@2-2-2013
21189021@unknown@formal@none@1@S@The comptroller's office also said that of 37,000 complaints it received since January 1987, only 16 alleged racial discrimination in real estate lending.@@@@1@23@@oe@2-2-2013
21189022@unknown@formal@none@1@S@The agency investigated the complaints but no violations were cited.@@@@1@10@@oe@2-2-2013
21189023@unknown@formal@none@1@S@Thrift regulators didn't give any figures on their enforcement actions.@@@@1@10@@oe@2-2-2013
21189024@unknown@formal@none@1@S@Mr. Fiechter said that among the possibilities being considered by regulators to fight discrimination is the use of "testers" -- government investigators who would pose as home buyers.@@@@1@28@@oe@2-2-2013
21189025@unknown@formal@none@1@S@The Department of Housing and Urban Development has used testers to investigate discrimination in rental housing.@@@@1@16@@oe@2-2-2013
21189026@unknown@formal@none@1@S@Using testers could be controversial with financial institutions, but Mr. Grohl said the U.S. League of Savings Institutions hadn't yet taken any position on the matter.@@@@1@26@@oe@2-2-2013
21190001@unknown@formal@none@1@S@Time Warner Inc. is considering a legal challenge to Tele-Communications Inc.'s plan to buy half of Showtime Networks Inc., a move that could lead to all-out war between the cable industry's two most powerful players.@@@@1@35@@oe@2-2-2013
21190002@unknown@formal@none@1@S@Time is also fighting the transaction on other fronts, by attempting to discourage other cable operators from joining Tele-Communications as investors in Showtime, cable-TV industry executives say.@@@@1@27@@oe@2-2-2013
21190003@unknown@formal@none@1@S@Time officials declined to comment.@@@@1@5@@oe@2-2-2013
21190004@unknown@formal@none@1@S@Last week, Tele-Communications agreed to pay Viacom Inc. $225 million for a 50% stake in its Showtime subsidiary, which is a distant second to Time's Home Box Office in the delivery of pay-TV networks to cable subscribers.@@@@1@37@@oe@2-2-2013
21190005@unknown@formal@none@1@S@Tele-Communications, the U.S.'s largest cable company, said it may seek other cable partners to join in its investment.@@@@1@18@@oe@2-2-2013
21190006@unknown@formal@none@1@S@Tele-Communications is HBO's largest customer, and the two have a number of other business relationships.@@@@1@15@@oe@2-2-2013
21190007@unknown@formal@none@1@S@Earlier this year, Time even discussed bringing Tele-Communications in as an investor in HBO, executives at both companies said.@@@@1@19@@oe@2-2-2013
21190008@unknown@formal@none@1@S@The purchase of the Showtime stake is "a direct slap in our face," said one senior Time executive.@@@@1@18@@oe@2-2-2013
21190009@unknown@formal@none@1@S@Time is expected to mount a legal challenge in U.S. District Court in New York, where Viacom in May filed a $2.5 billion antitrust suit charging Time and HBO with monopolizing the pay-TV business and trying to crush competition from Showtime.@@@@1@41@@oe@2-2-2013
21190010@unknown@formal@none@1@S@Executives involved in plotting Time's defense say it is now preparing a countersuit naming both Viacom and Tele-Communications as defendants.@@@@1@20@@oe@2-2-2013
21190011@unknown@formal@none@1@S@The executives say Time may seek to break up the transaction after it is consummated, or may seek constraints that would prevent Tele-Communications from dropping HBO in any of its cable systems in favor of Showtime.@@@@1@36@@oe@2-2-2013
21190012@unknown@formal@none@1@S@Viacom officials declined to comment.@@@@1@5@@oe@2-2-2013
21190013@unknown@formal@none@1@S@Jerome Kern, Tele-Communications' chief outside counsel, said he wasn't aware of Time's legal plans.@@@@1@14@@oe@2-2-2013
21190014@unknown@formal@none@1@S@But he said that any effort by Time to characterize the Tele-Communications investment in Showtime as anti-competitive would be "the pot calling the kettle black."@@@@1@25@@oe@2-2-2013
21190015@unknown@formal@none@1@S@"It's hard to see how an investment by the largest {cable operator} in the weaker of the two networks is anti-competitive, when the stronger of the two networks is owned by the second largest" cable operator, Mr. Kern said.@@@@1@39@@oe@2-2-2013
21190016@unknown@formal@none@1@S@In addition to owning HBO, with 22 million subscribers, Time Warner separately operates cable-TV system serving about 5.6 million cable-TV subscribers.@@@@1@21@@oe@2-2-2013
21190017@unknown@formal@none@1@S@Tele-Communications controls close to 12 million cable subscribers, and Viacom has about one million.@@@@1@14@@oe@2-2-2013
21190018@unknown@formal@none@1@S@In its suit against Time, Viacom says the ownership of both cable systems and cable-programming networks gives the company too much market power.@@@@1@23@@oe@2-2-2013
21190019@unknown@formal@none@1@S@Time argues that in joining up with Tele-Communications, Viacom has potentially more power, particularly since Viacom also owns cable networks MTV, VH-1 and Nick at Nite.@@@@1@26@@oe@2-2-2013
21190020@unknown@formal@none@1@S@Ironically, Tele-Communications and Time have often worked closely in the cable business.@@@@1@12@@oe@2-2-2013
21190021@unknown@formal@none@1@S@Together, they control nearly 40% of Turner Broadcasting Systems Inc.; Tele-Communications has a 21.8% stake, while Time Warner has a 17.8% stake.@@@@1@22@@oe@2-2-2013
21190022@unknown@formal@none@1@S@But since Time's merger with Warner Communications Inc., relations between the two have become strained.@@@@1@15@@oe@2-2-2013
21190023@unknown@formal@none@1@S@Each company worries that the other is becoming too powerful and too vertically integrated.@@@@1@14@@oe@2-2-2013
21190024@unknown@formal@none@1@S@Meanwhile, some legal observers say the Tele-Communications investment and other developments are weakening Viacom's antitrust suit against Time.@@@@1@18@@oe@2-2-2013
21190025@unknown@formal@none@1@S@Viacom accuses Time in its suit of refusing to carry Showtime or a sister service, The Movie Channel, on Time's Manhattan Cable TV system, one of the nation's largest urban systems.@@@@1@31@@oe@2-2-2013
21190026@unknown@formal@none@1@S@But yesterday, Manhattan Cable announced it will launch Showtime on Nov. 1 to over 230,000 subscribers.@@@@1@16@@oe@2-2-2013
21190027@unknown@formal@none@1@S@Showtime has also accused HBO of locking up the lion's share of Hollywood's movies by signing exclusive contracts with all the major studios.@@@@1@23@@oe@2-2-2013
21190028@unknown@formal@none@1@S@But Showtime has continued to sign new contracts with Hollywood studios, and yesterday announced it will buy movies from Columbia Pictures Entertainment Inc., which currently has a non-exclusive arrangement with HBO.@@@@1@31@@oe@2-2-2013
21191001@unknown@formal@none@1@S@The Federal Trade Commission said it authorized its staff to seek a preliminary injunction barring Imo Industries Inc. from acquiring the shares outstanding of the U.S. unit of the British company, United Scientific Holdings PLC, for $69 million.@@@@1@38@@oe@2-2-2013
21191002@unknown@formal@none@1@S@The FTC said it "had reason to believe that the proposed acquisition could substantially reduce competition" in the production of certain image intensifier tubes, which are important components of night-vision devices sold primarily to the defense industry.@@@@1@37@@oe@2-2-2013
21191003@unknown@formal@none@1@S@The FTC said it would seek to enjoin the proposed acquisition in a federal trial court, but declined to specify which one.@@@@1@22@@oe@2-2-2013
21191004@unknown@formal@none@1@S@Under federal law, if the court grants a preliminary injunction, the FTC must begin administrative proceedings to determine the legality of the proposed stock purchase within 20 days.@@@@1@28@@oe@2-2-2013
21191005@unknown@formal@none@1@S@Officials at the United Scientific unit, Optic-Electronic Corp. of Garland, Texas, and at Imo Industries of Lawrenceville, N.J., couldn't be reached for comment.@@@@1@23@@oe@2-2-2013
21192001@unknown@formal@none@1@S@The airline industry's fortunes, in dazzling shape for most of the year, have taken a sudden turn for the worse in the past few weeks.@@@@1@25@@oe@2-2-2013
21192002@unknown@formal@none@1@S@Citing rising fuel costs, promotional fare cuts and a general slowdown in travel, several major carriers have posted or are expected to post relatively poor third-quarter results.@@@@1@27@@oe@2-2-2013
21192003@unknown@formal@none@1@S@Yesterday, USAir Group Inc., recently one of the industry's stellar performers, posted a worse-than-expected $77.7 million net loss for the period.@@@@1@21@@oe@2-2-2013
21192004@unknown@formal@none@1@S@So far, the industry's fourth quarter isn't looking too strong either, prompting many analysts to slash earning projections for the rest of the year by as much as one-fourth.@@@@1@29@@oe@2-2-2013
21192005@unknown@formal@none@1@S@And they say the outlook for 1990 is nearly as bad.@@@@1@11@@oe@2-2-2013
21192006@unknown@formal@none@1@S@Airlines in 1989 "came in like a bang and are going out like a whimper," said Kevin Murphy, an airline analyst at Morgan Stanley & Co.@@@@1@26@@oe@2-2-2013
21192007@unknown@formal@none@1@S@This turn of events has put a big damper on an industry that seemed almost invincible last spring, when fares were rising at double-digit rates and many carriers seemed to be growing fat on near-monopolies in certain markets.@@@@1@38@@oe@2-2-2013
21192008@unknown@formal@none@1@S@Now, many airline companies might become a lot less attractive as takeover targets on Wall Street.@@@@1@16@@oe@2-2-2013
21192009@unknown@formal@none@1@S@The downturn also raises questions about the carriers' ambitious orders for new airplanes, which currently total $32.5 billion over the next three years.@@@@1@23@@oe@2-2-2013
21192010@unknown@formal@none@1@S@For travelers, though, the industry's problems have had some positive effects.@@@@1@11@@oe@2-2-2013
21192011@unknown@formal@none@1@S@In recent weeks, airlines have cut numerous fares in leisure markets to try to win back customers.@@@@1@17@@oe@2-2-2013
21192012@unknown@formal@none@1@S@Others have tried to spruce up frequent-flier programs.@@@@1@8@@oe@2-2-2013
21192013@unknown@formal@none@1@S@Previously, airlines were limiting the programs because they were becoming too expensive.@@@@1@12@@oe@2-2-2013
21192014@unknown@formal@none@1@S@Just last week, for example, Trans World Airlines and Pan Am Corp.'s Pan American World Airways went so far as to offer cash rebates or gift checks of $200 to $1,000 to certain frequent-flier members making trans-Atlantic flights in business class or first class.@@@@1@44@@oe@2-2-2013
21192015@unknown@formal@none@1@S@The industry's slowdown became apparent this month when AMR Corp., parent of American Airlines, reported an 8.8% drop in third-quarter net income and said its fourth quarter would be "disappointing."@@@@1@30@@oe@2-2-2013
21192016@unknown@formal@none@1@S@Shortly before that, USAir had said its third-quarter results would be "significantly lower" than a year earlier.@@@@1@17@@oe@2-2-2013
21192017@unknown@formal@none@1@S@Yesterday, it provided the details:@@@@1@5@@oe@2-2-2013
21192018@unknown@formal@none@1@S@Its loss of $77.7 million, or $1.86 a share, contrasted with net of $68.5 million, or $1.58 a share, in the 1988 third quarter.@@@@1@24@@oe@2-2-2013
21192019@unknown@formal@none@1@S@Revenue rose only 3.3% in the latest period, to $1.53 billion from $1.48 billion.@@@@1@14@@oe@2-2-2013
21192020@unknown@formal@none@1@S@For the nine months, the Arlington, Va., company's net plunged 73% to $38.5 million, or 76 cents a share, from $142.2 million, or $3.28 a share.@@@@1@26@@oe@2-2-2013
21192021@unknown@formal@none@1@S@Revenue rose 12% to $4.75 billion from $4.22 billion.@@@@1@9@@oe@2-2-2013
21192022@unknown@formal@none@1@S@The results surprised many analysts, because USAir has almost no competition in its Pittsburgh hub and has expanded operations by completing its acquisition of Piedmont Airlines.@@@@1@26@@oe@2-2-2013
21192023@unknown@formal@none@1@S@Shortly after announcing its quarterly loss, USAir's stock tumbled $3 a share.@@@@1@12@@oe@2-2-2013
21192024@unknown@formal@none@1@S@It ended at $40.125, down $2.375, in New York Stock Exchange composite trading.@@@@1@13@@oe@2-2-2013
21192025@unknown@formal@none@1@S@"Nobody was expecting this size of a loss," said Paul Karos, an analyst with First Boston Corp.@@@@1@17@@oe@2-2-2013
21192026@unknown@formal@none@1@S@One airline executive, who declined to be identified, called the loss "amazing."@@@@1@12@@oe@2-2-2013
21192027@unknown@formal@none@1@S@In announcing the results, USAir cited many of the same problems that several other industry officials have named recently.@@@@1@19@@oe@2-2-2013
21192028@unknown@formal@none@1@S@It said the industry's domestic traffic was flat in the third quarter; analysts say this was because hefty fare increases earlier in the year scared off many leisure travelers this summer.@@@@1@31@@oe@2-2-2013
21192029@unknown@formal@none@1@S@To try to combat the traffic slowdown, airlines started reducing fares; average fares rose only 1.7% in August, in contrast to increases of 16% each in February and March.@@@@1@29@@oe@2-2-2013
21192030@unknown@formal@none@1@S@But so far, the effort has failed, and traffic is still slow.@@@@1@12@@oe@2-2-2013
21192031@unknown@formal@none@1@S@Some other fare promotions have backfired.@@@@1@6@@oe@2-2-2013
21192032@unknown@formal@none@1@S@This summer, the industry introduced a "kids fly free" program, in which children were allowed to fly free if they were traveling with an adult.@@@@1@25@@oe@2-2-2013
21192033@unknown@formal@none@1@S@Airlines tried to restrict the program substantially by limiting the offer to certain days of the week, but it still was apparently used far more heavily than the airlines expected.@@@@1@30@@oe@2-2-2013
21192034@unknown@formal@none@1@S@Airlines also say their frequent-flier programs are squeezing profits because awards are being redeemed at a heavier-than-normal rate.@@@@1@18@@oe@2-2-2013
21192035@unknown@formal@none@1@S@One airline official said about three times as many free-travel coupons are being turned in as in previous years -- not surprisingly, as the airlines last year allowed many travelers to build up mileage at triple the normal rate.@@@@1@39@@oe@2-2-2013
21192036@unknown@formal@none@1@S@Rising operating expenses are another problem.@@@@1@6@@oe@2-2-2013
21192037@unknown@formal@none@1@S@Fuel costs were up 10% in the third quarter.@@@@1@9@@oe@2-2-2013
21192038@unknown@formal@none@1@S@Labor costs, which leveled off in the past few years because of lower pay scales for newer employees, are on the upswing again at many carriers.@@@@1@26@@oe@2-2-2013
21192039@unknown@formal@none@1@S@And some carriers are facing other unexpected headaches: USAir, for example, blamed some of its loss on merger expenses and on disruptions caused by Hurricane Hugo last month.@@@@1@28@@oe@2-2-2013
21192040@unknown@formal@none@1@S@"We cannot quantify the total adverse effects of Hugo," said Edwin Colodny, chairman and president of USAir Group.@@@@1@18@@oe@2-2-2013
21192041@unknown@formal@none@1@S@Whatever the cause for the downturn, few people are predicting any sudden improvement.@@@@1@13@@oe@2-2-2013
21192042@unknown@formal@none@1@S@Airline Economics Inc., an aviation consulting firm, is projecting an industrywide operating profit of $2.5 billion for 1989, compared with earlier forecasts of $3 billion to $3.5 billion.@@@@1@28@@oe@2-2-2013
21192043@unknown@formal@none@1@S@As for 1990, the firm predicts that profit will slip to between $1 billion and $1.5 billion.@@@@1@17@@oe@2-2-2013
21193001@unknown@formal@none@1@S@Good grief!@@@@1@2@@oe@2-2-2013
21193002@unknown@formal@none@1@S@Charlie Brown is selling out.@@@@1@5@@oe@2-2-2013
21193003@unknown@formal@none@1@S@Those Metropolitan Life ads were bad enough.@@@@1@7@@oe@2-2-2013
21193004@unknown@formal@none@1@S@But now, Charlie Brown is about to start pitching everything from Chex Party Mix to light bulbs.@@@@1@17@@oe@2-2-2013
21193005@unknown@formal@none@1@S@Why is he cashing in now?@@@@1@6@@oe@2-2-2013
21193006@unknown@formal@none@1@S@Turns out that next year, Charlie Brown, Snoopy and the gang turn 40 -- and Scripps Howard's United Media unit, the syndicator and licensing agent for Charles Schulz's comic strip, sees a bonanza in licensing the cartoon characters to a bevy of advertisers for ads, tie-ins and promotions.@@@@1@48@@oe@2-2-2013
21193007@unknown@formal@none@1@S@"Peanuts has become a major part of American culture," says Peter Shore, United Media's vice president of marketing and licensing.@@@@1@20@@oe@2-2-2013
21193008@unknown@formal@none@1@S@The comic strip "has a magical, everlasting quality about it.@@@@1@10@@oe@2-2-2013
21193009@unknown@formal@none@1@S@Our plan is to honor Charles Schulz and the strip all year long."@@@@1@13@@oe@2-2-2013
21193010@unknown@formal@none@1@S@The effort will make the Peanuts gang very familiar pitchmen in 1990.@@@@1@12@@oe@2-2-2013
21193011@unknown@formal@none@1@S@General Electric plans to use the characters to plug its Miser light bulb.@@@@1@13@@oe@2-2-2013
21193012@unknown@formal@none@1@S@Teleflora will run TV ads at Valentine's Day promoting its "Snoopy's Love Bouquet."@@@@1@13@@oe@2-2-2013
21193013@unknown@formal@none@1@S@Ralston Purina will promote its Chex Party Mix's three new flavor packets named for Charlie Brown, Lucy and Linus.@@@@1@19@@oe@2-2-2013
21193014@unknown@formal@none@1@S@The characters will also be featured in a new public service effort for the United Way.@@@@1@16@@oe@2-2-2013
21193015@unknown@formal@none@1@S@Beyond the advertisements, the syndicator is planning a traveling arena show, new TV specials for CBS and even an exhibit at the Smithsonian Institute.@@@@1@24@@oe@2-2-2013
21193016@unknown@formal@none@1@S@The yearlong schedule of festivities will be kicked off officially with a combination live and animation half-time special at the Super Bowl in January.@@@@1@24@@oe@2-2-2013
21193017@unknown@formal@none@1@S@All the tie-ins, though, have some marketing experts questioning whether the party may go too far.@@@@1@16@@oe@2-2-2013
21193018@unknown@formal@none@1@S@"There are too many people participating," says Al Ries, of Trout & Ries, a Greenwich, Conn., marketing consulting firm.@@@@1@19@@oe@2-2-2013
21193019@unknown@formal@none@1@S@"If you want to cut through the clutter, you have to make your message as distinct, sharp and individual as possible.@@@@1@21@@oe@2-2-2013
21193020@unknown@formal@none@1@S@Sharing a character with other advertisers isn't a way to do that."@@@@1@12@@oe@2-2-2013
21193021@unknown@formal@none@1@S@But United Media says it's very scrupulous with the contracts it hands out.@@@@1@13@@oe@2-2-2013
21193022@unknown@formal@none@1@S@"We're not interested in promoting every single product that comes along," Mr. Shore says.@@@@1@14@@oe@2-2-2013
21193023@unknown@formal@none@1@S@Metropolitan Life ad executives couldn't be reached about the use of the Peanuts characters by others.@@@@1@16@@oe@2-2-2013
21193024@unknown@formal@none@1@S@But Mr. Shore says that company's exclusive advertising rights extend only to the insurance and financial services category.@@@@1@18@@oe@2-2-2013
21193025@unknown@formal@none@1@S@Berry Rejoins WPP Group@@@@1@4@@oe@2-2-2013
21193026@unknown@formal@none@1@S@Norman Berry, the creative executive who was apparently squeezed out of Ogilvy & Mather in June, is returning to Ogilvy's parent company, WPP Group PLC.@@@@1@25@@oe@2-2-2013
21193027@unknown@formal@none@1@S@Mr. Berry, 58, had resigned after being asked by Ogilvy's chairman and chief executive officer, Kenneth Roman, to give up his title as creative head of the New York office and to take a fuzzier international role.@@@@1@37@@oe@2-2-2013
21193028@unknown@formal@none@1@S@Yesterday, just a day after Mr. Roman announced he would leave to take a top post at American Express, WPP said Mr. Berry would return to take an international role at the parent company.@@@@1@34@@oe@2-2-2013
21193029@unknown@formal@none@1@S@Mr. Berry said the timing was a coincidence and that his decision was unrelated to Mr. Roman's departure.@@@@1@18@@oe@2-2-2013
21193030@unknown@formal@none@1@S@RJR Taps FCB/Leber@@@@1@3@@oe@2-2-2013
21193031@unknown@formal@none@1@S@RJR Nabisco Inc. awarded its national broadcast media-buying assignment to FCB/Leber Katz Partners, the New York outpost of Chicago-based Foote, Cone & Belding.@@@@1@23@@oe@2-2-2013
21193032@unknown@formal@none@1@S@The naming of FCB/Leber Katz Partners as agency of record for Nabisco Brands Inc. and Planters LifeSavers Co. follows RJR Nabisco's announcement last week that it will disband its RJR Nabisco Broadcast division and dismiss its 14 employees Dec. 1. to cut costs.@@@@1@43@@oe@2-2-2013
21193033@unknown@formal@none@1@S@New York-based RJR Nabisco wouldn't say what it spends annually, but industry executives say it will spend more than $140 million this year, down from about $200 million last year.@@@@1@30@@oe@2-2-2013
21193034@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
21193035@unknown@formal@none@1@S@EARNINGS:@@@@1@1@@oe@2-2-2013
21193036@unknown@formal@none@1@S@Interpublic Group of Cos. said third-quarter net rose 15% to $6.9 million, or 21 cents a share, from $6 million, or 18 cents a share, in the year-earlier period.@@@@1@29@@oe@2-2-2013
21193037@unknown@formal@none@1@S@Revenue increased more than 5% to $283.2 million from $268.6 million.@@@@1@11@@oe@2-2-2013
21193038@unknown@formal@none@1@S@HOLIDAY PROMOTION:@@@@1@2@@oe@2-2-2013
21193039@unknown@formal@none@1@S@PepsiCo Inc. will give away 4,000 sets of "Game Boy," Nintendo's new hand-held video game in a two-month promotion scheduled to begin Nov. 1.@@@@1@24@@oe@2-2-2013
21193040@unknown@formal@none@1@S@Pepsi said it will spend $10 million advertising the promotion.@@@@1@10@@oe@2-2-2013
21194001@unknown@formal@none@1@S@International Business Machines Corp. agreed to acquire a 15% stake in Paxus Corp., an Australian computer-software and information-services concern, for 20 million Australian dollars (US$17 million).@@@@1@26@@oe@2-2-2013
21194002@unknown@formal@none@1@S@The investment will be made through IBM Australia Ltd., a unit of IBM, the two companies said yesterday.@@@@1@18@@oe@2-2-2013
21194003@unknown@formal@none@1@S@IBM can raise its stake in Paxus to 20% over three years, but agreed to not go beyond 20% in that time.@@@@1@22@@oe@2-2-2013
21194004@unknown@formal@none@1@S@Paxus said in a statement it has several "well developed product and services relationships" with the U.S. computer company, and plans to expand these links.@@@@1@25@@oe@2-2-2013
21194005@unknown@formal@none@1@S@The company earns about half its revenue overseas and plans further expansion.@@@@1@12@@oe@2-2-2013
21194006@unknown@formal@none@1@S@A majority stake in Paxus currently held by NZI Corp. will be diluted to slightly less than 50% after IBM acquires its interest.@@@@1@23@@oe@2-2-2013
21194007@unknown@formal@none@1@S@The agreement requires approval from Australia's Foreign Investment Review Board and National Companies and Securities Commission, and from shareholders of Paxus.@@@@1@21@@oe@2-2-2013
21195001@unknown@formal@none@1@S@Bond Corp. Holdings Ltd.'s consolidated debt totals 6.9 billion Australian dollars (US$5.32 billion), including A$1.6 billion of bonds convertible into shares.@@@@1@21@@oe@2-2-2013
21195002@unknown@formal@none@1@S@Alan Bond, chairman and controlling shareholder of the cash-strapped Australian media, brewing, resources and property concern, disclosed the debt figures yesterday.@@@@1@21@@oe@2-2-2013
21195003@unknown@formal@none@1@S@The disclosure follows last Friday's news that Bond Corp. incurred an overall loss of A$980.2 million for the fiscal year ended June 30, the largest loss in Australian corporate history.@@@@1@30@@oe@2-2-2013
21195004@unknown@formal@none@1@S@The debt load would have been higher but for a reduction of A$5 billion over the past year from asset sales, Mr. Bond said at a business gathering.@@@@1@28@@oe@2-2-2013
21195005@unknown@formal@none@1@S@Mr. Bond indicated the consolidated debt figures, which include debt of units such as Bell Group Ltd., will be published soon in Bond Corp.'s 1989 annual accounts.@@@@1@27@@oe@2-2-2013
21195006@unknown@formal@none@1@S@He predicted the debt will be reduced by another A$3.8 billion this fiscal year ending June 30, 1990, but didn't explain how this will be achieved.@@@@1@26@@oe@2-2-2013
21195007@unknown@formal@none@1@S@Mr. Bond blamed rising Australian interest rates and the acquisition of Bell Group "with its very high levels of shortterm debt" for producing a condition "that was no longer sustainable.@@@@1@30@@oe@2-2-2013
21195008@unknown@formal@none@1@S@"In order to restore confidence and ensure the support of our principal lenders," Mr. Bond said, "we embarked on fundamantal changes in the structure and direction of the group."@@@@1@29@@oe@2-2-2013
21195009@unknown@formal@none@1@S@That reassessment resulted in continuing asset sales, as well as write-offs exceeding A$1.1 billion last fiscal year.@@@@1@17@@oe@2-2-2013
21195010@unknown@formal@none@1@S@"In essence we have made a decision to clear the decks," Mr. Bond told the meeting.@@@@1@16@@oe@2-2-2013
21195011@unknown@formal@none@1@S@While some assets have been written down, others are undervalued in the accounts, Mr. Bond maintained.@@@@1@16@@oe@2-2-2013
21195012@unknown@formal@none@1@S@Among these are the company's Australian brewing assets, in the books at A$950 million but actually worth A$2.5 billion, he said.@@@@1@21@@oe@2-2-2013
21195013@unknown@formal@none@1@S@An investment in Chile's telephone company is carried at US$300 million but really worth US$500 million, and the company's property portfolio is undervalued by at least A$250 million, Mr. Bond said.@@@@1@31@@oe@2-2-2013
21195014@unknown@formal@none@1@S@Mr. Bond forecast that by next June, "what will emerge will be a company with a honed sense of purpose . . . a stable balance sheet, with good-quality assets in brewing, telecommunications, media and property."@@@@1@36@@oe@2-2-2013
21195015@unknown@formal@none@1@S@He didn't name energy resources in that list, signaling that all the company's coal and oil interests might be for sale in total or in part.@@@@1@26@@oe@2-2-2013
21195016@unknown@formal@none@1@S@Some of the oil interests already have been sold.@@@@1@9@@oe@2-2-2013
21196001@unknown@formal@none@1@S@Mercedes-Benz of North America Inc., Grosse Pointe Shores, Mich., estimated it will sell about as many cars in 1990 as the 75,000 it expects to deliver this year.@@@@1@28@@oe@2-2-2013
21196002@unknown@formal@none@1@S@Mercedes officials said they expect flat sales next year even though they see the U.S. luxury-car market expanding slightly.@@@@1@19@@oe@2-2-2013
21196003@unknown@formal@none@1@S@Erich Krampe, president of the U.S. sales arm of West German auto maker Daimler Benz AG, predicted luxury-car sales will rise to 840,000 in 1990 from 830,000 this year primarily because of the new Japanese makes.@@@@1@36@@oe@2-2-2013
21196004@unknown@formal@none@1@S@Most of the growth, he said, will come in the $35,000-to-$50,000 price range, where Mercedes has a 35% U.S. market share.@@@@1@21@@oe@2-2-2013
21196005@unknown@formal@none@1@S@Mercedes sold 82,348 cars in 1988.@@@@1@6@@oe@2-2-2013
21196006@unknown@formal@none@1@S@Mr. Krampe also said that Mercedes plans to bring out new models every year through the mid-1990s and it will shorten its product development cycle to eight years from 10 or 12 years to compete more effectively with Toyota Motor Corp.'s Lexus, Nissan Motor Co.'s Infiniti and Honda Motor Co.'s Acura luxury-car divisions.@@@@1@53@@oe@2-2-2013
21197001@unknown@formal@none@1@S@Homestake Mining Co., San Francisco, blamed the continued slump in gold prices for an 83% plunge in third-quarter net income to $2 million, or two cents a share, from $11.2 million, or 12 cents a share, a year earlier.@@@@1@39@@oe@2-2-2013
21197002@unknown@formal@none@1@S@Revenue rose 5% to $110.4 million from $105.4 million.@@@@1@9@@oe@2-2-2013
21197003@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Homestake closed at $15.25, down 25 cents.@@@@1@14@@oe@2-2-2013
21197004@unknown@formal@none@1@S@"A significant increase in gold sales to 248,279 ounces for the quarter from 188,726 in the third quarter of 1988 was more than offset by the continued decline in average gold price realization to $367 from $429 per ounce," the company said.@@@@1@42@@oe@2-2-2013
21197005@unknown@formal@none@1@S@For the nine months, the mining company posted a 40% drop in profit to $30.1 million, or 31 cents a share, from $50.6 million, or 52 cents a share, on a 6% rise in revenue to $323.2 million from $305.7 million.@@@@1@41@@oe@2-2-2013
21198001@unknown@formal@none@1@S@The Treasury plans to raise $1.8 billion in new cash with the sale Monday of about $15.6 billion in short-term bills to redeem $13.81 billion in maturing bills.@@@@1@28@@oe@2-2-2013
21198002@unknown@formal@none@1@S@The offering will be divided evenly between 13-week and 26-week bills maturing Feb. 1, 1990, and May 3, 1990, respectively.@@@@1@20@@oe@2-2-2013
21198003@unknown@formal@none@1@S@Tenders for the bills, available in minimum $10,000 denominations, must be received by 1 p.m. EST Monday at the Treasury or at Federal Reserve banks or branches.@@@@1@27@@oe@2-2-2013
21198004@unknown@formal@none@1@S@The Treasury said it will alter the auctions unless it has assurance of enactment of legislation to raise the statutory debt limit before the scheduled auctions Monday.@@@@1@27@@oe@2-2-2013
21199001@unknown@formal@none@1@S@Apogee Enterprises Inc. said profit for the third quarter ending Dec. 2 will fall below the year-earlier results because of an after-tax charge of $1.9 million related to a project that was guaranteed by the company.@@@@1@36@@oe@2-2-2013
21199002@unknown@formal@none@1@S@A year ago, the Minneapolis glass products and aluminum window maker earned $4 million, or 30 cents a share, on revenue of $114 million.@@@@1@24@@oe@2-2-2013
21199003@unknown@formal@none@1@S@Apogee said the charge stems from a building supply contract in which the company guaranteed a contractor's performance.@@@@1@18@@oe@2-2-2013
21199004@unknown@formal@none@1@S@Apogee said a subcontractor had severe cost overruns and was unable to fulfill the contract terms on its own, making it necessary for Apogee to advance cash to ensure completion of the project.@@@@1@33@@oe@2-2-2013
21199005@unknown@formal@none@1@S@The company said its core businesses have performed well and it expects them to continue to do so in the remainder of the fiscal year.@@@@1@25@@oe@2-2-2013
21200001@unknown@formal@none@1@S@Japan's production of cars, trucks and buses in September fell 4.1% from a year ago to 1,120,317 units because of a slip in exports, the Japan Automobile Manufacturers' Association said.@@@@1@30@@oe@2-2-2013
21200002@unknown@formal@none@1@S@Domestic demand continues to grow, but its contribution to higher production was sapped in September by the estimated 2% fall in imports, accompanied by a growing tendency for Japanese manufacturers to build vehicles overseas, according to the association.@@@@1@38@@oe@2-2-2013
21200003@unknown@formal@none@1@S@The association said domestic demand grew 8.8% in September.@@@@1@9@@oe@2-2-2013
21200004@unknown@formal@none@1@S@Demand has been growing consistently under the encouragement of pro-consumption government policies, an association spokesman said.@@@@1@16@@oe@2-2-2013
21200005@unknown@formal@none@1@S@He also said the introduction of a 3% consumption tax in April has helped sales.@@@@1@15@@oe@2-2-2013
21200006@unknown@formal@none@1@S@The new tax, though a source of general resentment among Japanese taxpayers, replaced a higher commodities tax that applied to automobiles.@@@@1@21@@oe@2-2-2013
21200007@unknown@formal@none@1@S@Japanese domestic motor-vehicle sales rose 12% in September, the Japan Automobile Dealers' Association said earlier this month.@@@@1@17@@oe@2-2-2013
21200008@unknown@formal@none@1@S@The manufacturers' association will issue statistics on vehicle exports later this month.@@@@1@12@@oe@2-2-2013
21200009@unknown@formal@none@1@S@Production of cars rose to 801,835 units in September, a 5.5% increase from a year earlier.@@@@1@16@@oe@2-2-2013
21200010@unknown@formal@none@1@S@Midsized cars accounted for the greatest growth in units, rising 62,872 units to 134,550 units, or 88%.@@@@1@17@@oe@2-2-2013
21200011@unknown@formal@none@1@S@Minicar output more than tripled.@@@@1@5@@oe@2-2-2013
21200012@unknown@formal@none@1@S@Manufacturers produced 46,835 of the vehicles -- which have engines of 500 cubic centimeters or less -- an increase of 31,777 units.@@@@1@22@@oe@2-2-2013
21200013@unknown@formal@none@1@S@Total truck production fell 22% from a year earlier to 315,546 units.@@@@1@12@@oe@2-2-2013
21200014@unknown@formal@none@1@S@Minitruck production fell 13% to 94,243 units.@@@@1@7@@oe@2-2-2013
21200015@unknown@formal@none@1@S@Bus production also slipped, by 49% from a year earlier to 2,936 units.@@@@1@13@@oe@2-2-2013
21200016@unknown@formal@none@1@S@The association spokesman said bus production has declined since January, but couldn't offer an explanation for the fall.@@@@1@18@@oe@2-2-2013
21200017@unknown@formal@none@1@S@Auto production for the first half of the fiscal year, which began in August, totaled 6,379,884 units, the association said.@@@@1@20@@oe@2-2-2013
21200018@unknown@formal@none@1@S@Half-year production was up 3.4% compared with the same period a year earlier.@@@@1@13@@oe@2-2-2013
21201001@unknown@formal@none@1@S@Stock of United Airlines parent UAL Corp. gyrated wildly yesterday amid speculation that one or more investors may challenge the UAL board's decision to remain independent instead of pursuing a buy-out or other transaction.@@@@1@34@@oe@2-2-2013
21201002@unknown@formal@none@1@S@The board's decision, announced after the market closed Monday, initially prompted a severe sell-off in UAL shares, which at midday traded as low as $145 a share, down $33 a share, in composite trading on the New York Stock Exchange.@@@@1@40@@oe@2-2-2013
21201003@unknown@formal@none@1@S@The deepening bloodbath for takeover-stock traders, who by then had seen UAL stock tumble 49% since Oct. 12, also triggered a marketwide sell-off that sent the Dow Jones Industrial Average down more than 80 points at 10:40 a.m.@@@@1@38@@oe@2-2-2013
21201004@unknown@formal@none@1@S@But then steady, concentrated buying by Bear, Stearns & Co., which frequently buys stock for corporate raiders, took hold and steadied the fall in UAL, which eventually buoyed the entire market.@@@@1@31@@oe@2-2-2013
21201005@unknown@formal@none@1@S@The industrial average closed down only 3.69 points at 2659.22.@@@@1@10@@oe@2-2-2013
21201006@unknown@formal@none@1@S@Late in the afternoon, several big purchases by Bear, Stearns, particularly a block of 200,000 shares at 2:43 p.m. at $150 a share, triggered a buying spree that took UAL up more than 18 points in the final hour of trading.@@@@1@41@@oe@2-2-2013
21201007@unknown@formal@none@1@S@UAL stock closed at $170 a share, down $8.375.@@@@1@9@@oe@2-2-2013
21201008@unknown@formal@none@1@S@Volume was a tumultuous 4.9 million shares, or 22% of the 21.8 million UAL shares outstanding.@@@@1@16@@oe@2-2-2013
21201009@unknown@formal@none@1@S@Traders estimated that Bear, Stearns bought more than 1 million shares.@@@@1@11@@oe@2-2-2013
21201010@unknown@formal@none@1@S@The two most frequently rumored buyers, neither of whom would comment, were Coniston Partners, which battled the UAL board in 1987, and New York real estate developer Donald Trump, who recently made and withdrew an offer for American Airlines parent AMR Corp.@@@@1@42@@oe@2-2-2013
21201011@unknown@formal@none@1@S@However, one person familiar with UAL said the signs pointed to Coniston because Mr. Trump hasn't asked for permission to buy more than $15 million of stock under federal antitrust rules.@@@@1@31@@oe@2-2-2013
21201012@unknown@formal@none@1@S@Takeover-stock traders, stung by their huge losses in UAL stock, remained eager for some action by an outside catalyst following the collapse Oct. 13 of a $300-a-share, $6.79 billion labor-management buy-out.@@@@1@31@@oe@2-2-2013
21201013@unknown@formal@none@1@S@Their hope was that the catalyst would seek to oust the board in a solicitation of shareholder consents.@@@@1@18@@oe@2-2-2013
21201014@unknown@formal@none@1@S@Baker, Nye Investments, a New York takeover-stock trader that owns UAL stock, wouldn't comment on reports the firm is considering seeking such a shareholder vote.@@@@1@25@@oe@2-2-2013
21201015@unknown@formal@none@1@S@But partner Richard Nye said, "This is the most extraordinary failed transaction I've seen in 25 years in this business.@@@@1@20@@oe@2-2-2013
21201016@unknown@formal@none@1@S@It would make sense for somebody to do it.@@@@1@9@@oe@2-2-2013
21201017@unknown@formal@none@1@S@I have never seen a case of incompetence shared by so many participants."@@@@1@13@@oe@2-2-2013
21201018@unknown@formal@none@1@S@In 1986, Baker, Nye waged a proxy fight for control of Leaseway Transportation Inc. that ultimately led to Leaseway's being sold.@@@@1@21@@oe@2-2-2013
21201019@unknown@formal@none@1@S@Some traders pointed hopefully to earlier estimates by UAL's investment adviser, First Boston Corp., that recapitalizations could yield $245 to $280 a share.@@@@1@23@@oe@2-2-2013
21201020@unknown@formal@none@1@S@But those would require pilots' cooperation.@@@@1@6@@oe@2-2-2013
21201021@unknown@formal@none@1@S@Any investor who acquires UAL stock in an attempt to force a buy-out or recapitalization must deal with United's contentious unions.@@@@1@21@@oe@2-2-2013
21201022@unknown@formal@none@1@S@The pilots are working under an expired contract, and the machinists contract expires next month.@@@@1@15@@oe@2-2-2013
21201023@unknown@formal@none@1@S@That gives them enormous leverage, including the threat of a strike to block any buy-out or recapitalization attempt they oppose.@@@@1@20@@oe@2-2-2013
21201024@unknown@formal@none@1@S@However, a catalyst like Coniston could seek shareholder support for a sale to a labor-management group at the last price discussed by that group before the board meeting Monday.@@@@1@29@@oe@2-2-2013
21201025@unknown@formal@none@1@S@The pilots had been working on a buy-out bid between $225 and $240 a share, or $5.09 billion to $5.42 billion.@@@@1@21@@oe@2-2-2013
21201026@unknown@formal@none@1@S@One person familiar with UAL said the unsettled labor situation and the uncertain world-wide financial markets contributed to the board's decision to avoid "rushing around selling the company at a bargain price," particularly since it accepted a $300-a-share offer just last month.@@@@1@42@@oe@2-2-2013
21201027@unknown@formal@none@1@S@Even some takeover-stock traders said they couldn't quarrel with the board's logic.@@@@1@12@@oe@2-2-2013
21201028@unknown@formal@none@1@S@But the board's decision prompted many to bail out of the stock yesterday.@@@@1@13@@oe@2-2-2013
21201029@unknown@formal@none@1@S@"We had a lot of people who threw in the towel today," said Earl Ellis, a partner in Benjamin Jacobson & Sons, a specialist in trading UAL stock on the Big Board.@@@@1@32@@oe@2-2-2013
21201030@unknown@formal@none@1@S@Another trader noted that many arbitrage firms are afraid to sell their UAL stock at the bottom, but already own so much they can't buy any more.@@@@1@27@@oe@2-2-2013
21201031@unknown@formal@none@1@S@"This deal is like a Roach Motel," he said.@@@@1@9@@oe@2-2-2013
21201032@unknown@formal@none@1@S@"They check in, but they can't check out."@@@@1@8@@oe@2-2-2013
21201033@unknown@formal@none@1@S@But both the traders and the pilots remain interested in some transaction.@@@@1@12@@oe@2-2-2013
21201034@unknown@formal@none@1@S@So too, according to many reports, is British Airways PLC, despite its public withdrawal from the buy-out.@@@@1@17@@oe@2-2-2013
21201035@unknown@formal@none@1@S@The pilots might end up teaming up with their longtime adversaries, the machinists union, in a recapitalization.@@@@1@17@@oe@2-2-2013
21201036@unknown@formal@none@1@S@The machinists are reviewing proposals they made in the past for recapitalizations that would pay a special shareholder dividend and give employees a minority stake.@@@@1@25@@oe@2-2-2013
21201037@unknown@formal@none@1@S@The company rejected those past proposals.@@@@1@6@@oe@2-2-2013
21201038@unknown@formal@none@1@S@It is unclear, however, if the machinists would support a majority stake, as the pilots want.@@@@1@16@@oe@2-2-2013
21201039@unknown@formal@none@1@S@A machinist official said that would depend on how much in concessions machinists would have to give in return for the majority stake.@@@@1@23@@oe@2-2-2013
21201040@unknown@formal@none@1@S@Some investors whose names were bandied about by traders as potential UAL stock buyers said they weren't buying.@@@@1@18@@oe@2-2-2013
21201041@unknown@formal@none@1@S@"I'm not interested," said Dallas investor Harold Simmons.@@@@1@8@@oe@2-2-2013
21201042@unknown@formal@none@1@S@A source close to Carl Icahn, a corporate raider who owns Trans World Airlines Inc., said he hasn't owned any UAL stock and isn't buying.@@@@1@25@@oe@2-2-2013
21201043@unknown@formal@none@1@S@One person familiar with Texas billionaire Robert Bass said he isn't likely to make any hostile moves.@@@@1@17@@oe@2-2-2013
21201044@unknown@formal@none@1@S@And a spokesman for Reliance Group Holdings Inc., which had held 7% of UAL before the first buy-out bid but later reduced its holdings below 5%, wouldn't comment.@@@@1@28@@oe@2-2-2013
21201045@unknown@formal@none@1@S@Marvin Davis, whose $5.4 billion takeover bid originally put the nation's second-largest airline in play, is limited by a standstill agreement with UAL he signed in September.@@@@1@27@@oe@2-2-2013
21201046@unknown@formal@none@1@S@The Los Angeles investor can't buy UAL stock, solicit shareholder consents or make a new offer unless he makes a formal offer of $300 a share or UAL accepts an offer below $300.@@@@1@33@@oe@2-2-2013
21201047@unknown@formal@none@1@S@However, Mr. Davis could pressure the board by asking that the agreement be waived, or letting it be known that he has financing for an offer at a lower price.@@@@1@30@@oe@2-2-2013
21202001@unknown@formal@none@1@S@Times Mirror Co. said third-quarter net income fell 13% to $70.1 million, or 54 cents a share, compared with net income of $81 million, or 62 cents a share, a year earlier.@@@@1@32@@oe@2-2-2013
21202002@unknown@formal@none@1@S@The Los Angeles media concern said that the year-ago period included a $26.5 million gain from the sale of assets, primarily timberlands.@@@@1@22@@oe@2-2-2013
21202003@unknown@formal@none@1@S@Revenue was $873.9 million, up 7.3% from $814.8 million.@@@@1@9@@oe@2-2-2013
21202004@unknown@formal@none@1@S@Stronger results from the company's broadcast and cable television units and professional and textbook publishing divisions, plus increased advertising at the company's largest newspaper, the Los Angeles Times, offset advertising declines in the company's newspapers in the Eastern U.S., the company said.@@@@1@42@@oe@2-2-2013
21202005@unknown@formal@none@1@S@"Looking ahead to the fourth quarter, the outlook for the newspaper group remains guarded, with no improvement yet seen in operating trends in our Eastern markets," said Robert F. Erburu, Times Mirror's chairman and chief executive.@@@@1@36@@oe@2-2-2013
21203001@unknown@formal@none@1@S@Copper futures sold off sharply yesterday, influenced by declines in the stock market and dollar, and a rally in bonds.@@@@1@20@@oe@2-2-2013
21203002@unknown@formal@none@1@S@December copper opened near Monday's close, tried to rally but failed, and then triggered stop-loss orders on its way down to settle at $1.1510 a pound, off 4.50 cents for the day.@@@@1@32@@oe@2-2-2013
21203003@unknown@formal@none@1@S@Stop-loss orders are placed previously with instructions to execute them if the market hits a predetermined price.@@@@1@17@@oe@2-2-2013
21203004@unknown@formal@none@1@S@William Kaiser, president of the Kaiser Financial Group in Chicago, said the decline was almost certainly influenced by the early sell-off in the stock market, which partly reflected a weakening economy.@@@@1@31@@oe@2-2-2013
21203005@unknown@formal@none@1@S@He said the recent decline in copper stocks was misleading in the face of a slowdown in manufacturing.@@@@1@18@@oe@2-2-2013
21203006@unknown@formal@none@1@S@Mr. Kaiser said traders could have picked up signals of an imminent price decline had they been watching the scrap metal markets, which became noticeably weaker two to three weeks ago.@@@@1@31@@oe@2-2-2013
21203007@unknown@formal@none@1@S@But though a weakening economy implies reduced demand, Mr. Kaiser said that Third World copper-producing countries haven't any choice but to sell copper.@@@@1@23@@oe@2-2-2013
21203008@unknown@formal@none@1@S@They might even step up sales in a falling market, he said, in an effort to maintain the flow of foreign exchange into their treasuries.@@@@1@25@@oe@2-2-2013
21203009@unknown@formal@none@1@S@Technically, Mr. Kaiser noted that a lot of traders had bought into the market when the price was in the $1.24 to $1.26 range, thinking there was support at the $1.20 level.@@@@1@32@@oe@2-2-2013
21203010@unknown@formal@none@1@S@When the market fell below that level on Monday and then yesterday couldn't climb above that level, traders started selling out their positions.@@@@1@23@@oe@2-2-2013
21203011@unknown@formal@none@1@S@Betty Raptopoulos, senior metals analyst at Prudential-Bache Securities in New York, agreed that most of the selling was of a technical nature.@@@@1@22@@oe@2-2-2013
21203012@unknown@formal@none@1@S@She said the market hit the $1.18 level at around 10 a.m. EDT where it encountered a large number of stop-loss orders.@@@@1@22@@oe@2-2-2013
21203013@unknown@formal@none@1@S@More stop-loss orders were touched off all the way down to below $1.14, where modest buying was attracted.@@@@1@18@@oe@2-2-2013
21203014@unknown@formal@none@1@S@Ms. Raptopoulos said the settling of strikes in Canada and Mexico will have little effect on supplies of copper until early next year.@@@@1@23@@oe@2-2-2013
21203015@unknown@formal@none@1@S@She thinks the next area of support for copper is in the $1.09 to $1.10 range.@@@@1@16@@oe@2-2-2013
21203016@unknown@formal@none@1@S@"I believe that as soon as the selling abates somewhat we could see a rally back to the $1.20 region," she added.@@@@1@22@@oe@2-2-2013
21203017@unknown@formal@none@1@S@She thinks a recovery in the stock market would help copper rebound as well.@@@@1@14@@oe@2-2-2013
21203018@unknown@formal@none@1@S@She noted that the preliminary estimate of the third-quarter gross national product is due out tomorrow and is expected to be up about 2.5% to 3%.@@@@1@26@@oe@2-2-2013
21203019@unknown@formal@none@1@S@"If the number is a little better, then copper will respond positively, if it is worse then more selling could ensue," she predicted.@@@@1@23@@oe@2-2-2013
21203020@unknown@formal@none@1@S@Ms. Raptopoulos noted that relating economic numbers to specific market activity is tricky.@@@@1@13@@oe@2-2-2013
21203021@unknown@formal@none@1@S@Yesterday, for example, "the durable goods numbers came out for September and the number was down only 0.1%," she said.@@@@1@20@@oe@2-2-2013
21203022@unknown@formal@none@1@S@"However, if you exclude defense-related orders then durable goods were down 3.9%.@@@@1@12@@oe@2-2-2013
21203023@unknown@formal@none@1@S@I believe that number reflects a slowing economy."@@@@1@8@@oe@2-2-2013
21203024@unknown@formal@none@1@S@She said copper traders will also be looking toward the release of the index of leading economic indicators next Tuesday.@@@@1@20@@oe@2-2-2013
21203025@unknown@formal@none@1@S@However, David Threlkeld, president of Threlkeld & Co., an international metals company, noted that so far this year copper consumption is way ahead of the same period of 1988, and that projected production is below last year.@@@@1@37@@oe@2-2-2013
21203026@unknown@formal@none@1@S@Mr. Threlkeld said the copper market seems to be anticipating a recession in three months, with declining use being the result.@@@@1@21@@oe@2-2-2013
21203027@unknown@formal@none@1@S@"But," he added, "we have had that exact same perception six times in the last six years."@@@@1@17@@oe@2-2-2013
21203028@unknown@formal@none@1@S@He noted that currently the ratio of available copper to consumption is about 3.5 weeks.@@@@1@15@@oe@2-2-2013
21203029@unknown@formal@none@1@S@He said the normal ratio is five to six weeks.@@@@1@10@@oe@2-2-2013
21203030@unknown@formal@none@1@S@According to Mr. Threlkeld, the bottleneck in copper production isn't at the mines but at the copper refineries.@@@@1@18@@oe@2-2-2013
21203031@unknown@formal@none@1@S@"It takes three months to turn copper concentrate into cathodes," he said.@@@@1@12@@oe@2-2-2013
21203032@unknown@formal@none@1@S@If there isn't a recession, he said, "we will be out of copper by the end of March.@@@@1@18@@oe@2-2-2013
21203033@unknown@formal@none@1@S@If there is a recession that will change the statistical situation."@@@@1@11@@oe@2-2-2013
21203034@unknown@formal@none@1@S@He thinks that without a recession copper prices could exceed a high of $1.65 a pound, which was reached last year.@@@@1@21@@oe@2-2-2013
21203035@unknown@formal@none@1@S@In the past Mr. Threlkeld has been known to have substantial long positionsthat is, he had bought copper futures in anticipation of rising prices -- in the copper futures market.@@@@1@30@@oe@2-2-2013
21203036@unknown@formal@none@1@S@In other commodity markets yesterday:@@@@1@5@@oe@2-2-2013
21203037@unknown@formal@none@1@S@ENERGY: The attitude was "wait-and-see" in crude oil futures yesterday in trading on the New York Mercantile Exchange.@@@@1@18@@oe@2-2-2013
21203038@unknown@formal@none@1@S@Prices for the U.S. benchmark West Texas Intermediate crude remained locked in a fairly narrow range before ending the session four cents lower at $19.72 a barrel for December delivery.@@@@1@30@@oe@2-2-2013
21203039@unknown@formal@none@1@S@Several analysts and brokers said the petroleum market was ready to rally after two days of price declines from profit-taking.@@@@1@20@@oe@2-2-2013
21203040@unknown@formal@none@1@S@But an early 80-point drop in the Dow Jones Industrial Average stopped the crude rally cold.@@@@1@16@@oe@2-2-2013
21203041@unknown@formal@none@1@S@The industrial average recovered to close only 3.69 points lower, but petroleum futures never shook off the chill.@@@@1@18@@oe@2-2-2013
21203042@unknown@formal@none@1@S@Most market participants said they were looking to this week's inventory statistics from the American Petroleum Institute to give the market some direction.@@@@1@23@@oe@2-2-2013
21203043@unknown@formal@none@1@S@The report isn't generally available until late on Tuesdays.@@@@1@9@@oe@2-2-2013
21203044@unknown@formal@none@1@S@PRECIOUS METALS: Futures prices inched upward in mostly lackluster trading.@@@@1@10@@oe@2-2-2013
21203045@unknown@formal@none@1@S@December gold was up $3.20 an ounce at $373.40; December silver gained 5.7 cents to $5.1950 an ounce.@@@@1@18@@oe@2-2-2013
21203046@unknown@formal@none@1@S@January platinum rose $2.30 an ounce to $488.60.@@@@1@8@@oe@2-2-2013
21203047@unknown@formal@none@1@S@Mr. Kaiser said there were no fundamental factors moving these markets.@@@@1@11@@oe@2-2-2013
21203048@unknown@formal@none@1@S@He noted that two weeks ago there were rumors of Soviet sales of precious metals to finance grain purchases, but the sales don't seem to have materialized.@@@@1@27@@oe@2-2-2013
21203049@unknown@formal@none@1@S@Ms. Raptopoulos thought yesterday's price action reflected weakness in the stock market and the dollar.@@@@1@15@@oe@2-2-2013
21203050@unknown@formal@none@1@S@"Gold still acts as a haven when uncertainty prevails in the financial markets as it did" yesterday, she said.@@@@1@19@@oe@2-2-2013
21203051@unknown@formal@none@1@S@Mr. Kaiser noted that gold was more than 71 times the price of silver at the close yesterday, which is historically high.@@@@1@22@@oe@2-2-2013
21203052@unknown@formal@none@1@S@"The high ratio reflects the fact that silver is still regarded as about a half-industrial metal and its price lagging relative to gold says that traders are expecting a weakening economy," he said.@@@@1@33@@oe@2-2-2013
21203053@unknown@formal@none@1@S@GRAINS AND SOYBEANS: Prices closed lower after trading in relatively narrow ranges because of strong selling in the cash market and continued favorable harvest weather.@@@@1@25@@oe@2-2-2013
21203054@unknown@formal@none@1@S@The sale to the Chinese government of 330,000 metric tons of wheat under the government's export enhancement program was announced after the close of trading Monday, but the sale was expected and failed to buoy prices yesterday, said Dale Gustafson, a futures analyst with Drexel Burnham Lambert Inc. in Chicago.@@@@1@50@@oe@2-2-2013
21203055@unknown@formal@none@1@S@As for other export customers, the Soviet Union isn't expected to be back buying U.S. corn in significant amounts until early next year, he said.@@@@1@25@@oe@2-2-2013
21203056@unknown@formal@none@1@S@A number of commercial grain users buttressed that opinion yesterday by buying certain corn options for delivery in March, indicating to analysts that the commercial companies would use the options to hedge against expected corn sales in next year's first quarter.@@@@1@41@@oe@2-2-2013
21203057@unknown@formal@none@1@S@COCOA: Futures at first continued the rally begun on Monday, but then faltered and closed lower.@@@@1@16@@oe@2-2-2013
21203058@unknown@formal@none@1@S@The December contract opened just under Monday's close, triggered some previously placed buy orders just above $1,030 a metric ton, pushing the price to $1,040, and then encountered heavy selling by traders who buy and sell for their own accounts and by commercial interests.@@@@1@44@@oe@2-2-2013
21203059@unknown@formal@none@1@S@The contract settled at $1,014 a ton, off $13.@@@@1@9@@oe@2-2-2013
21203060@unknown@formal@none@1@S@Robert Hafer, senior commodities analyst at Kaiser Financial Group, said Monday's rally continued yesterday for only about 20 minutes after the opening.@@@@1@22@@oe@2-2-2013
21203061@unknown@formal@none@1@S@He said even though there was arbitrage buying in New York because of the weak dollar, cocoa fell to relentless pressure from bearish traders.@@@@1@24@@oe@2-2-2013
21203062@unknown@formal@none@1@S@But he noted that speculators apparently don't believe there is much more of a decline in store for cocoa.@@@@1@19@@oe@2-2-2013
21203063@unknown@formal@none@1@S@The December contract reached its life-of-contract low of $975 a ton on Oct. 11; its lifetime high was $1,735, set in 1988, and its recent high was $1,368, set in early August.@@@@1@32@@oe@2-2-2013
21203064@unknown@formal@none@1@S@The last time cocoa traded at prices as low as currently was in 1974.@@@@1@14@@oe@2-2-2013
21203065@unknown@formal@none@1@S@But while further modest declines might be ahead, Mr. Hafer said it would be difficult to get through resistance levels just above yesterday's high.@@@@1@24@@oe@2-2-2013
21204001@unknown@formal@none@1@S@Citizens First Bancorp. Inc. said it agreed to buy Lakeland First Financial Group Inc., a Succasunna, N.J., bank holding company, for about $50.6 million in cash and stock.@@@@1@28@@oe@2-2-2013
21204002@unknown@formal@none@1@S@Citizens First, which controls Citizens First National Bank and is based in Glen Rock, N.J., will pay a maximum of 40% in cash for the parent of Lakeland Savings Bank and the remainder in convertible preferred stock, with a liquidation value of $18 a share.@@@@1@45@@oe@2-2-2013
21204003@unknown@formal@none@1@S@Lakeland holders will have the option to request either stock or cash.@@@@1@12@@oe@2-2-2013
21204004@unknown@formal@none@1@S@The convertible preferred will pay dividends at 7.875% and be convertible into shares of Citizens First at a rate equal to 20% above the average closing price of the stock during a 20-day period prior to the transaction's completion.@@@@1@39@@oe@2-2-2013
21204005@unknown@formal@none@1@S@The deal requires regulatory and shareholder approval.@@@@1@7@@oe@2-2-2013
21205001@unknown@formal@none@1@S@Color Systems Technology Inc., Los Angeles, said its major creditor, General Electric Pension Trust, agreed to convert $11.8 million of debt owed into 25% of Color System's fully diluted common stock.@@@@1@31@@oe@2-2-2013
21205002@unknown@formal@none@1@S@The agreement also calls for General Electric Pension, a unit of General Electric Co., to receive as much as 10% of Color Systems' fully diluted common stock, depending on the proceeds from the sale of the AEI Film Library and its receivables.@@@@1@42@@oe@2-2-2013
21205003@unknown@formal@none@1@S@General Electric Pension took control of the 85-title library last month after Color Systems defaulted on the loan.@@@@1@18@@oe@2-2-2013
21205004@unknown@formal@none@1@S@The agreement depends on Color Systems' ability to win similar concessions from other creditors.@@@@1@14@@oe@2-2-2013
21205005@unknown@formal@none@1@S@Buddy Young, president, said the company expects to conclude negotiations with other creditors within 60 days.@@@@1@16@@oe@2-2-2013
21205006@unknown@formal@none@1@S@Color Systems, which converts black-and-white film to color videotape, posted a loss of $7.1 million, or $1.32 a share, on revenue of $10.6 million for the fiscal year ended June 30.@@@@1@31@@oe@2-2-2013
21205007@unknown@formal@none@1@S@Its stock fell 12.5 cents, to $2.125, in American Stock Exchange composite trading yesterday.@@@@1@14@@oe@2-2-2013
21206001@unknown@formal@none@1@S@Next to Kohlberg Kravis Roberts's megabillion RJR Nabisco deal, SCI Television is small fry.@@@@1@14@@oe@2-2-2013
21206002@unknown@formal@none@1@S@But the troubles of SCI TV are a classic tale of the leveraged buy-out excesses of the 1980s, especially the asset-stripping game.@@@@1@22@@oe@2-2-2013
21206003@unknown@formal@none@1@S@SCI TV, which expects to release a plan to restructure $1.3 billion of debt in the next day or so, isn't just another LBO that went bad after piling on debt -- though it did do that.@@@@1@37@@oe@2-2-2013
21206004@unknown@formal@none@1@S@The cable and TV station company was an LBO of an LBO, a set of assets that were leveraged twice, enabling the blue-chip buy-out king Henry Kravis in 1987 to take more than $1 billion of cash out of the com- pany.@@@@1@42@@oe@2-2-2013
21206005@unknown@formal@none@1@S@SCI TV's buy-out was an ace in the hole for Mr. Kravis and for investors in KKR partnerships.@@@@1@18@@oe@2-2-2013
21206006@unknown@formal@none@1@S@But it has left holders of SCI TV's junk bonds holding the bag, including some heavyweights that KKR might need to finance future deals, such as Kemper Financial Services, First Executive, Columbia Savings & Loan and Prudential Insurance Co. of America.@@@@1@41@@oe@2-2-2013
21206007@unknown@formal@none@1@S@Some junk-holders are said to be considering legal action against KKR or moves to force SCI TV into bankruptcy court.@@@@1@20@@oe@2-2-2013
21206008@unknown@formal@none@1@S@And KKR's majority partner in SCI TV's buy-out, Nashville, Tenn., entrepreneur George Gillett, also is said to be very unhappy.@@@@1@20@@oe@2-2-2013
21206009@unknown@formal@none@1@S@SCI TV's six stations once were part of Storer Communications.@@@@1@10@@oe@2-2-2013
21206010@unknown@formal@none@1@S@KKR loaded up the cable and television company with debt in an 1985 buy-out, then later sold Storer's cable operations at a fat profit.@@@@1@24@@oe@2-2-2013
21206011@unknown@formal@none@1@S@In 1987, KKR for the second time piled debt onto Storer's TV stations, selling them for $1.3 billion to a new entity that was 45%-owned by KKR and 55%-owned by Gillett Corp., which now operates the SCI TV stations.@@@@1@39@@oe@2-2-2013
21206012@unknown@formal@none@1@S@In this second LBO, KKR with one hand took more than $1 billion of cash out of the TV company's assets and moved it into the Storer cable operations, making them more valuable in a 1988 sale.@@@@1@37@@oe@2-2-2013
21206013@unknown@formal@none@1@S@(Storer also took $125 million of junior SCI TV bonds as partial payment for the TV assets.)@@@@1@17@@oe@2-2-2013
21206014@unknown@formal@none@1@S@With the other hand, KKR put back into SCI TV less than 10% of the cash it had taken out, buying SCI TV common and preferred shares.@@@@1@27@@oe@2-2-2013
21206015@unknown@formal@none@1@S@So, while KKR today has an estimated $250 million sunk in now-shaky SCI TV, including equity and debt, the LBO firm still is $1 billion ahead on the SCI TV buy-out after taking cash up front.@@@@1@36@@oe@2-2-2013
21206016@unknown@formal@none@1@S@On Storer as a whole, KKR racked up compound annual returns of 60% in the three years it owned Storer.@@@@1@20@@oe@2-2-2013
21206017@unknown@formal@none@1@S@Meanwhile, Mr. Gillett risks losing his entire equity investment of about $100 million in SCI TV if the company can't be restructured.@@@@1@22@@oe@2-2-2013
21206018@unknown@formal@none@1@S@Overall, Mr. Gillett's holding company, Gillett Holdings, is heavily indebted and, except for its Vail Mountain resorts, isn't doing very well.@@@@1@21@@oe@2-2-2013
21206019@unknown@formal@none@1@S@With the TV business falling on hard times in recent years, analysts say that if SCI TV had to be liquidated today, it might fetch 30% less than in the 1987 buy-out, wiping out most of the company's junk-holders and its stockholders.@@@@1@42@@oe@2-2-2013
21206020@unknown@formal@none@1@S@Meanwhile, SCI TV can barely pay its cash interest bill, and to stay out of bankruptcy court it must soon reschedule a lot of bank loans and junk bonds that have fallen due.@@@@1@33@@oe@2-2-2013
21206021@unknown@formal@none@1@S@SCI TV's grace period for paying its bills is due to expire Nov. 16.@@@@1@14@@oe@2-2-2013
21206022@unknown@formal@none@1@S@It now is quietly circulating among creditors a preliminary plan to restructure debt.@@@@1@13@@oe@2-2-2013
21206023@unknown@formal@none@1@S@Negotiations "have started con- structively, but that's not to say we like this particular offer," says Wilbur Ross of Rothschild Inc., adviser to SCI TV junk-holders.@@@@1@26@@oe@2-2-2013
21206024@unknown@formal@none@1@S@No major player in the SCI TV deal will talk publicly.@@@@1@11@@oe@2-2-2013
21206025@unknown@formal@none@1@S@But it's understood that Mr. Kravis is disappointed that Mr. Gillett didn't manage to boost SCI TV's operating profit after the buy-out.@@@@1@22@@oe@2-2-2013
21206026@unknown@formal@none@1@S@Mr. Kravis apparently thinks SCI TV can survive if lenders extend its debt payments until TV stations rise in value again, allowing SCI TV to sell assets to pay debt.@@@@1@30@@oe@2-2-2013
21206027@unknown@formal@none@1@S@Mr. Gillett is said to be proud of his operating record; he has lifted some stations' ratings and turned around a Detroit station.@@@@1@23@@oe@2-2-2013
21206028@unknown@formal@none@1@S@As for junk-holders, they're discovering it can be a mistake to take the other side of a trade by KKR.@@@@1@20@@oe@2-2-2013
21206029@unknown@formal@none@1@S@The bonds of SCI TV now are being quoted at prices ranging from only five cents to about 60 cents on the dollar, according to R.D. Smith & Co. in New York, which trades distressed securities.@@@@1@36@@oe@2-2-2013
21206030@unknown@formal@none@1@S@People who have seen SCI TV's restructuring plan say it offers concessions by KKR and Gillett Corp.@@@@1@17@@oe@2-2-2013
21206031@unknown@formal@none@1@S@They would both give part of their combined $50 million in common equity in SCI TV to holders of SCI TV's $488 million of junk bonds, as a carrot to persuade them to accept new bonds that might reduce the value of their claims on the company.@@@@1@47@@oe@2-2-2013
21206032@unknown@formal@none@1@S@But some militant SCI TV junk-holders say that's not enough.@@@@1@10@@oe@2-2-2013
21206033@unknown@formal@none@1@S@They contend that SCI TV's equity now is worthless.@@@@1@9@@oe@2-2-2013
21206034@unknown@formal@none@1@S@They add that it isn't costing KKR anything to give up equity because of its big up-front cash profit on the buy-out, which they think contributed to SCI TV's current problems.@@@@1@31@@oe@2-2-2013
21206035@unknown@formal@none@1@S@Kemper, the biggest holder of senior SCI TV bonds, has refused to join the bond-holders committee and is said to be reviewing its legal options.@@@@1@25@@oe@2-2-2013
21206036@unknown@formal@none@1@S@To protect their claims, some junk-holders want KKR and perhaps Mr. Gillett to invest new money in SCI TV, perhaps $50 million or more.@@@@1@24@@oe@2-2-2013
21206037@unknown@formal@none@1@S@One investment banker who isn't involved in the deal says SCI TV needs at least $50 million of new equity to survive.@@@@1@22@@oe@2-2-2013
21206038@unknown@formal@none@1@S@Junk-holders say they have a stick to beat KKR with: "The threat of bankruptcy is a legitimate tool" to extract money from KKR, says one big SCI TV holder.@@@@1@29@@oe@2-2-2013
21206039@unknown@formal@none@1@S@This could be the first major bankruptcy-law proceeding for KKR, he adds.@@@@1@12@@oe@2-2-2013
21206040@unknown@formal@none@1@S@A big bankruptcy-court case might tarnish KKR's name, and provide new fuel for critics of LBOs in Washington and elsewhere.@@@@1@20@@oe@2-2-2013
21206041@unknown@formal@none@1@S@But others say junk-holders have nothing to gain by putting SCI TV into bankruptcy-law proceedings.@@@@1@15@@oe@2-2-2013
21206042@unknown@formal@none@1@S@While KKR doesn't control SCI TVwhich is unusual for a KKR investment -- it clearly has much deeper pockets than Mr. Gillett.@@@@1@22@@oe@2-2-2013
21206043@unknown@formal@none@1@S@Bankruptcy specialists say Mr. Kravis set a precedent for putting new money in sour LBOs recently when KKR restructured foundering Seaman Furniture, doubling KKR's equity stake.@@@@1@26@@oe@2-2-2013
21206044@unknown@formal@none@1@S@But with Seaman, KKR was only trying to salvage its original investment, says bankruptcy investor James Rubin of Sass Lamle Rubin in New York.@@@@1@24@@oe@2-2-2013
21206045@unknown@formal@none@1@S@By contrast, KKR probably has already made all the money it can on SCI TV.@@@@1@15@@oe@2-2-2013
21206046@unknown@formal@none@1@S@And people who know Mr. Kravis say he isn't in a hurry to pour more money into SCI TV.@@@@1@19@@oe@2-2-2013
21207001@unknown@formal@none@1@S@Rubbermaid Inc., reflecting strong earnings growth, boosted its quarterly dividend 18%, to 13 cents a share from 11 cents.@@@@1@19@@oe@2-2-2013
21207002@unknown@formal@none@1@S@The maker of household products said the new dividend is payable Dec. 1 to shares of record Nov. 10.@@@@1@19@@oe@2-2-2013
21207003@unknown@formal@none@1@S@Separately, the company's board adopted a proposal to amend its 1986 shareholder rights plan, further insulating the company from takeover.@@@@1@20@@oe@2-2-2013
21207004@unknown@formal@none@1@S@Rubbermaid officials said they aren't aware of any effort to take over the company, but believed the shareholder plan needed to be strengthened.@@@@1@23@@oe@2-2-2013
21207005@unknown@formal@none@1@S@"The board has stated repeatedly that Rubbermaid should be independent," said Walter W. Williams, Rubbermaid president.@@@@1@16@@oe@2-2-2013
21207006@unknown@formal@none@1@S@Some changes to the plan were minor adjustments, but the most significant was an amendment that provides that if any investor holds 25% or more of Rubbermaid's voting securities, each right held by others would entitle the holder to buy Rubbermaid shares with a market value of twice the right's exercise price.@@@@1@52@@oe@2-2-2013
21207007@unknown@formal@none@1@S@Mr. Williams said the exercise price is $125, meaning holders would have the right to buy $250 of Rubbermaid stock for half price, diluting the investor's 25% stake.@@@@1@28@@oe@2-2-2013
21207008@unknown@formal@none@1@S@For the third quarter, Rubbermaid earned $32.6 million, or 44 cents a share, up 16% from $28.1 million, or 38 cents a share, a year earlier.@@@@1@26@@oe@2-2-2013
21207009@unknown@formal@none@1@S@Sales rose 9.7% to $351.5 million from $320.4 million.@@@@1@9@@oe@2-2-2013
21207010@unknown@formal@none@1@S@Rubbermaid shares closed yesterday at $33.875, off 12.5 cents, in New York Stock Exchange composite trading.@@@@1@16@@oe@2-2-2013
21208001@unknown@formal@none@1@S@The stock market went on a dizzying ride as UAL, parent of United Airlines, once again led shares into a breathtaking decline and then an afternoon comeback.@@@@1@27@@oe@2-2-2013
21208002@unknown@formal@none@1@S@At the end of it all, the Dow Jones Industrial Average closed down 3.69 to 2659.22.@@@@1@16@@oe@2-2-2013
21208003@unknown@formal@none@1@S@At one point yesterday morning, the Dow was down 80.53 points.@@@@1@11@@oe@2-2-2013
21208004@unknown@formal@none@1@S@New York Stock Exchange volume was 237,960,000 shares.@@@@1@8@@oe@2-2-2013
21208005@unknown@formal@none@1@S@Declining issues swamped advancers, 1,222 to 382.@@@@1@7@@oe@2-2-2013
21208006@unknown@formal@none@1@S@Yesterday's sell-off and rebound was a powerful reminder that 11 days after the 190-point plunge on Friday the 13th, the stock market still has a bad case of nerves.@@@@1@29@@oe@2-2-2013
21208007@unknown@formal@none@1@S@Takeover stock speculation and futures-related program trading drove the industrial average through wide ranges.@@@@1@14@@oe@2-2-2013
21208008@unknown@formal@none@1@S@And there is more volatility to come.@@@@1@7@@oe@2-2-2013
21208009@unknown@formal@none@1@S@"October 13th left us with a cut and exposed nerve," said Jack Solomon, technical analyst for Bear Stearns.@@@@1@18@@oe@2-2-2013
21208010@unknown@formal@none@1@S@"People are fearful and sensitive.@@@@1@5@@oe@2-2-2013
21208011@unknown@formal@none@1@S@Everybody's finger is one inch closer to the button.@@@@1@9@@oe@2-2-2013
21208012@unknown@formal@none@1@S@I have never had as many calls as I had this morning.@@@@1@12@@oe@2-2-2013
21208013@unknown@formal@none@1@S@Volatility is here to stay."@@@@1@5@@oe@2-2-2013
21208014@unknown@formal@none@1@S@The Dow Jones Industrial Average plunged about 80 points in slightly more than one hour after the opening bell.@@@@1@19@@oe@2-2-2013
21208015@unknown@formal@none@1@S@For many, it began to look like a replay of Oct. 13.@@@@1@12@@oe@2-2-2013
21208016@unknown@formal@none@1@S@As stocks and stock-index futures fell, a trading limit was hit in the S&P 500 stock futures pit.@@@@1@18@@oe@2-2-2013
21208017@unknown@formal@none@1@S@Under a post-1987 crash reform, the Chicago Mercantile Exchange wouldn't permit the December S&P futures to fall further than 12 points for a half hour.@@@@1@25@@oe@2-2-2013
21208018@unknown@formal@none@1@S@That caused a brief period of panic selling of stocks on the Big Board.@@@@1@14@@oe@2-2-2013
21208019@unknown@formal@none@1@S@But at a critical moment, stock-index arbitrage traders showed their power and control.@@@@1@13@@oe@2-2-2013
21208020@unknown@formal@none@1@S@They scooped up hundreds of S&P futures when the market needed it most.@@@@1@13@@oe@2-2-2013
21208021@unknown@formal@none@1@S@At about 10:40 a.m. EDT, several big buy orders hit the S&P pit simultaneously, lifting the futures up out of the trading limit and eventually into ranges that caused computer-driven program buying of stocks.@@@@1@34@@oe@2-2-2013
21208022@unknown@formal@none@1@S@"It is very clear that those buy orders came from people who wanted their franchise protected," said one Chicago-based futures trader.@@@@1@21@@oe@2-2-2013
21208023@unknown@formal@none@1@S@"These guys wanted to do something to show how powerful they are."@@@@1@12@@oe@2-2-2013
21208024@unknown@formal@none@1@S@Traders said Goldman Sachs, Shearson Lehman Hutton and Salomon Brothers were the main force behind the futures buying at the pivotal moment.@@@@1@22@@oe@2-2-2013
21208025@unknown@formal@none@1@S@Shearson Lehman Hutton declined to comment.@@@@1@6@@oe@2-2-2013
21208026@unknown@formal@none@1@S@Officials at Goldman Sachs and Salomon Brothers were unavailable for comment.@@@@1@11@@oe@2-2-2013
21208027@unknown@formal@none@1@S@As in the Oct. 13 massacre, yesterday morning's drop was triggered by bad news for speculators in UAL.@@@@1@18@@oe@2-2-2013
21208028@unknown@formal@none@1@S@A UAL statement after the market closed Monday indicated that the airline's board wanted to keep the company independent, effectively crushing hopes of an immediate buy-out.@@@@1@26@@oe@2-2-2013
21208029@unknown@formal@none@1@S@Five minutes before the Big Board opened, a preliminary price was flashed for UAL -- somewhere between 135 and 155, a loss of as much as $43 a share from Monday's close.@@@@1@32@@oe@2-2-2013
21208030@unknown@formal@none@1@S@UAL finally opened for trading at 10:08 a.m. at 150, down $28.@@@@1@12@@oe@2-2-2013
21208031@unknown@formal@none@1@S@Floor traders said there was a huge crowd around the Big Board specialist's post where UAL trades.@@@@1@17@@oe@2-2-2013
21208032@unknown@formal@none@1@S@"There was a seething mass of people," said one floor trader.@@@@1@11@@oe@2-2-2013
21208033@unknown@formal@none@1@S@"Then there was a big liquidation of stock" across the board, he added.@@@@1@13@@oe@2-2-2013
21208034@unknown@formal@none@1@S@Takeover speculators -- who have already taken a record loss estimated at more than $700 million on UAL -- started selling other stocks as well as S&P futures in an attempt to hedge against a further UAL blood bath.@@@@1@39@@oe@2-2-2013
21208035@unknown@formal@none@1@S@Shortly after the UAL opening, program traders started selling stocks in the Major Market Index and S&P 500 index.@@@@1@19@@oe@2-2-2013
21208036@unknown@formal@none@1@S@The 20-stock MMI mimics the Dow Jones Industrial Average.@@@@1@9@@oe@2-2-2013
21208037@unknown@formal@none@1@S@By 10:30 a.m. the Dow was down 62.70.@@@@1@8@@oe@2-2-2013
21208038@unknown@formal@none@1@S@All 20-stocks in the MMI except Exxon, General Motors and Sears were down $1 to $2.@@@@1@16@@oe@2-2-2013
21208039@unknown@formal@none@1@S@At 10:33, when the S&P 500 December futures contract crunched to a 12-point loss under the force of sell programs, S&P futures trading was halted and program trades on the Big Board were routed into a special computer that scans for order imbalances.@@@@1@43@@oe@2-2-2013
21208040@unknown@formal@none@1@S@Under the rules adopted by the Chicago Mercantile Exchange, the futures contract cannot drop below the limit, but buyers can purchase futures.@@@@1@22@@oe@2-2-2013
21208041@unknown@formal@none@1@S@At this point, the Dow industrials were down 75.41 points and falling.@@@@1@12@@oe@2-2-2013
21208042@unknown@formal@none@1@S@The trading halt in the S&P 500 futures exacerbated selling and confusion, many traders maintain.@@@@1@15@@oe@2-2-2013
21208043@unknown@formal@none@1@S@But as the fright began to spread through the S&P pit, the big brokerage firms came in and bought futures aggressively.@@@@1@21@@oe@2-2-2013
21208044@unknown@formal@none@1@S@"It was whooosh!" said one futures trader.@@@@1@7@@oe@2-2-2013
21208045@unknown@formal@none@1@S@In five minutes, the Dow industrials climbed almost 30 points.@@@@1@10@@oe@2-2-2013
21208046@unknown@formal@none@1@S@The big futures buying triggered stock-index buy programs that eventually trimmed the Dow's loss to 31 points by 11 a.m.@@@@1@20@@oe@2-2-2013
21208047@unknown@formal@none@1@S@Traders said the futures buying was finely calculated by program traders.@@@@1@11@@oe@2-2-2013
21208048@unknown@formal@none@1@S@These firms sold stock into the big morning decline, but seeing the velocity of the market's drop, held back on their offsetting purchases of futures until the S&P futures hit the trading limit.@@@@1@33@@oe@2-2-2013
21208049@unknown@formal@none@1@S@Then they completed the other side of the trade by buying futures, which abruptly halted the stock market's decline as traders began to buy stocks.@@@@1@25@@oe@2-2-2013
21208050@unknown@formal@none@1@S@From then on, the Dow industrials held at a loss of 40 to 50 points.@@@@1@15@@oe@2-2-2013
21208051@unknown@formal@none@1@S@Then, in late-afternoon trading, hundred-thousand-share buy orders for UAL hit the market, including a 200,000-share order through Bear Stearns that seemed to spark UAL's late price surge.@@@@1@27@@oe@2-2-2013
21208052@unknown@formal@none@1@S@Almost simultaneously, PaineWebber began a very visible buy program for dozens of stocks.@@@@1@13@@oe@2-2-2013
21208053@unknown@formal@none@1@S@The combined buying rallied the Dow into a small gain, before closing at a slight loss.@@@@1@16@@oe@2-2-2013
21208054@unknown@formal@none@1@S@Some institutional traders loved the wild ride.@@@@1@7@@oe@2-2-2013
21208055@unknown@formal@none@1@S@"This is fun," asserted Susan Del Signore, head equity trader at Travelers Investment Management Co.@@@@1@15@@oe@2-2-2013
21208056@unknown@formal@none@1@S@She said she used the market's wild swings to buy shares cheaply on the sell-off.@@@@1@15@@oe@2-2-2013
21208057@unknown@formal@none@1@S@On the comeback, Ms. Del Signore unloaded shares she has been aiming to get rid of.@@@@1@16@@oe@2-2-2013
21208058@unknown@formal@none@1@S@But traders who risk money handling big blocks of stock were shaken.@@@@1@12@@oe@2-2-2013
21208059@unknown@formal@none@1@S@"This market is eating away my youth," said Chung Lew, head equity trader at Kleinwort Benson North America Inc.@@@@1@19@@oe@2-2-2013
21208060@unknown@formal@none@1@S@"Credibility sounds intangible.@@@@1@3@@oe@2-2-2013
21208061@unknown@formal@none@1@S@But I think we are losing credibility because when the market does this, it doesn't present itself as a rational investment.@@@@1@21@@oe@2-2-2013
21208062@unknown@formal@none@1@S@But if you overlook all this, it is a beautiful market for investment still."@@@@1@14@@oe@2-2-2013
21208063@unknown@formal@none@1@S@Traders attributed rallies in a number of stocks to a Japanese buy program that PaineWebber carried out as part of a shift in portfolio strategy, according to Dow Jones Professional Investor Report.@@@@1@32@@oe@2-2-2013
21208064@unknown@formal@none@1@S@Dow Jones climbed 5 3/4 to 41 on very heavy volume of 786,100 shares.@@@@1@14@@oe@2-2-2013
21208065@unknown@formal@none@1@S@Analysts said a big Japanese buy order was behind the rise.@@@@1@11@@oe@2-2-2013
21208066@unknown@formal@none@1@S@A Dow Jones spokesman said there were no corporate developments that would account for the activity.@@@@1@16@@oe@2-2-2013
21208067@unknown@formal@none@1@S@Other issues said to be included in the buy program were Procter & Gamble, which rose 2 7/8 to 133 1/2; Atlantic Richfield, which gained 2 to 103 3/4, and Rockwell International, which jumped 2 3/4 to 27 1/8.@@@@1@39@@oe@2-2-2013
21208068@unknown@formal@none@1@S@PaineWebber declined to comment.@@@@1@4@@oe@2-2-2013
21208069@unknown@formal@none@1@S@UAL finished at 170, off 8 3/8.@@@@1@7@@oe@2-2-2013
21208070@unknown@formal@none@1@S@Other airline stocks fell in response to the UAL board's decision to remain independent for now, including USAir Group, which separately reported a third-quarter loss of $1.86 a share compared with a year-ago profit.@@@@1@34@@oe@2-2-2013
21208071@unknown@formal@none@1@S@USAir fell 2 1/2 to 40.@@@@1@6@@oe@2-2-2013
21208072@unknown@formal@none@1@S@AMR, the parent of American Airlines, fell 1 3/4 to 68 7/8 on 2.3 million shares; Delta Air Lines lost 1 1/2 to 66, Southwest Airlines slid 3/4 to 24 1/4 and Midway Airlines dropped 1/4 to 14 7/8.@@@@1@39@@oe@2-2-2013
21208073@unknown@formal@none@1@S@Texas Air, which owns Continental and Eastern airlines, lost 3/8 to 13 1/8 on the American Stock Exchange.@@@@1@18@@oe@2-2-2013
21208074@unknown@formal@none@1@S@Metals stocks also were especially weak, as concerns about the earnings outlook for cyclical companies weighed on the group.@@@@1@19@@oe@2-2-2013
21208075@unknown@formal@none@1@S@Aluminum Co. of America dropped 1 1/2 to 70 1/4, Phelps Dodge fell 4 to 59 7/8, Asarco lost 1 3/8 to 31 3/4, Reynolds Metals slid 1 3/8 to 50 3/8, Amax dropped 1 1/8 to 21 5/8 and Cyprus Minerals skidded 2 to 26 3/4.@@@@1@47@@oe@2-2-2013
21208076@unknown@formal@none@1@S@Alcan Aluminium was an exception, as it gained 1 3/8 to 23 on two million shares.@@@@1@16@@oe@2-2-2013
21208077@unknown@formal@none@1@S@Goodyear Tire & Rubber tumbled 2 7/8 to 43 7/8.@@@@1@10@@oe@2-2-2013
21208078@unknown@formal@none@1@S@Its third-quarter earnings were higher than a year ago, but fell short of expectations.@@@@1@14@@oe@2-2-2013
21208079@unknown@formal@none@1@S@Other stocks in the Dow industrials that failed to benefit from the market's rebound included United Technologies, which dropped 1 to 53 5/8, and Bethle hem Steel, which fell 1 to 16 7/8.@@@@1@33@@oe@2-2-2013
21208080@unknown@formal@none@1@S@BankAmerica dropped 1 1/4 to 29 1/2 on 2.3 million shares amid rumors that the earthquake last week in the San Francisco area had caused structural damage to its headquarters building.@@@@1@31@@oe@2-2-2013
21208081@unknown@formal@none@1@S@The company denied the rumors and noted that it doesn't own the building.@@@@1@13@@oe@2-2-2013
21208082@unknown@formal@none@1@S@Stocks of California-based thrifts also were hard hit.@@@@1@8@@oe@2-2-2013
21208083@unknown@formal@none@1@S@Great Western Financial lost 1 1/8 to 20 1/2 on 1.6 million shares, Golden West Financial dropped 1 1/4 to 28 1/2 and H.F. Ahmanson dipped 5/8 to 21 1/4.@@@@1@30@@oe@2-2-2013
21208084@unknown@formal@none@1@S@HomeFed plunged 3 5/8 to 38 1/2; its third-quarter earnings were down from a year ago.@@@@1@16@@oe@2-2-2013
21208085@unknown@formal@none@1@S@Golden Valley Microwave Foods skidded 3 5/8 to 31 3/4 after warning that its fourth-quarter results could be hurt by "some fairly large international marketing expenses."@@@@1@26@@oe@2-2-2013
21208086@unknown@formal@none@1@S@Dividend-related trading swelled volume in two issues: Security Pacific, which fell 7/8 to 44 1/2 and led the Big Board's most actives list on composite volume of 14.8 million shares, and Nipsco Industries, which lost 3/8 to 17 3/8 on 4.4 million shares.@@@@1@43@@oe@2-2-2013
21208087@unknown@formal@none@1@S@Both stocks have dividend yields of about 5% and will go ex-dividend Wednesday.@@@@1@13@@oe@2-2-2013
21208088@unknown@formal@none@1@S@Kellogg surged 4 1/4 to 75.@@@@1@6@@oe@2-2-2013
21208089@unknown@formal@none@1@S@Donaldson, Lufkin & Jenrette placed the stock on its list of recommended issues.@@@@1@13@@oe@2-2-2013
21208090@unknown@formal@none@1@S@The company noted that its third-quarter results should be released later this week or early next week.@@@@1@17@@oe@2-2-2013
21208091@unknown@formal@none@1@S@Vista Chemical rose 1 3/8 to 38 5/8 after Bear Stearns added the stock to the firm's buy list, citing recent price weakness.@@@@1@23@@oe@2-2-2013
21208092@unknown@formal@none@1@S@Georgia Gulf, another producer of commodity chemicals, advanced 2 to 49 1/2; Dallas investor Harold Simmons, who holds about 10% of its shares, said he hasn't raised his stake.@@@@1@29@@oe@2-2-2013
21208093@unknown@formal@none@1@S@Norfolk Southern went up 1 1/8 to 37 7/8.@@@@1@9@@oe@2-2-2013
21208094@unknown@formal@none@1@S@The company's board approved the repurchase of up to 45 million common shares, or about 26% of its shares outstanding, through the end of 1992.@@@@1@25@@oe@2-2-2013
21208095@unknown@formal@none@1@S@Airborne Freight climbed 1 1/8 to 38 1/2.@@@@1@8@@oe@2-2-2013
21208096@unknown@formal@none@1@S@Its third-quarter earnings more than doubled from a year earlier and exceeded analysts' expectations.@@@@1@14@@oe@2-2-2013
21208097@unknown@formal@none@1@S@John Harland, which will replace American Medical International on the S&P 500 following Wednesday's close, gained 5/8 to 24 1/8.@@@@1@20@@oe@2-2-2013
21208098@unknown@formal@none@1@S@The Amex Market Value Index fell 3.10 to 376.36.@@@@1@9@@oe@2-2-2013
21208099@unknown@formal@none@1@S@Volume totaled 14,560,000 shares.@@@@1@4@@oe@2-2-2013
21209001@unknown@formal@none@1@S@GANNETT Co. raised its quarterly dividend 11% to 30 cents a share from 27 cents, payable Jan. 2, 1990, to shares of record Dec. 8, 1989.@@@@1@26@@oe@2-2-2013
21209002@unknown@formal@none@1@S@The action increases the annual dividend to $1.20 a share from $1.08.@@@@1@12@@oe@2-2-2013
21209003@unknown@formal@none@1@S@This is the 22nd year in which the Washington media company has increased dividends.@@@@1@14@@oe@2-2-2013
21209004@unknown@formal@none@1@S@Gannett's third-quarter earnings rose 11% to 52 cents a share from 47 cents in the year-ago period.@@@@1@17@@oe@2-2-2013
21209005@unknown@formal@none@1@S@Sales rose 2.9% to $827.9 million from $804.3 million.@@@@1@9@@oe@2-2-2013
21209006@unknown@formal@none@1@S@Gannett has 161 million shares outstanding.@@@@1@6@@oe@2-2-2013
21210001@unknown@formal@none@1@S@Fireman's Fund Corp. said third-quarter net income plunged 85% to $7.2 million from last year's $49.1 million, or 99 cents a share, because of ravages of Hurricane Hugo and increased reserves for legal expenses.@@@@1@34@@oe@2-2-2013
21210002@unknown@formal@none@1@S@Payout of preferred dividends resulted in a net loss of five cents a share in the most recent quarter.@@@@1@19@@oe@2-2-2013
21210003@unknown@formal@none@1@S@Revenue edged up 3.4% to $904 million from $874 million in last year's third quarter.@@@@1@15@@oe@2-2-2013
21210004@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Fireman's closed at $35.50 a share, down 50 cents.@@@@1@16@@oe@2-2-2013
21210005@unknown@formal@none@1@S@Impact of the Oct. 17 San Francisco earthquake, which will be recorded in the fourth quarter, isn't expected to exceed $50 million after taxes, the company added.@@@@1@27@@oe@2-2-2013
21210006@unknown@formal@none@1@S@For the nine months, the insurance company said net fell 46% to $88.8 million, or $1.54 a share, from $164 million, or $3.16 a share, the previous year.@@@@1@28@@oe@2-2-2013
21210007@unknown@formal@none@1@S@Revenue slid 7% to $2.6 billion from $2.8 billion a year earlier.@@@@1@12@@oe@2-2-2013
21210008@unknown@formal@none@1@S@Fireman's Fund property-liability subsidiaries reported a 120.7% combined underwriting ratio for the nine months, up from 108.4% for the year-ago period.@@@@1@21@@oe@2-2-2013
21210009@unknown@formal@none@1@S@Hurricane Hugo accounted for about $36 million in pretax third-quarter losses, net of reinsurance recoveries.@@@@1@15@@oe@2-2-2013
21210010@unknown@formal@none@1@S@The company said there was an additional increase in loss and loss-expense reserves of $71 million reflecting "higher than expected" development in claims legal expenses from to prior periods.@@@@1@29@@oe@2-2-2013
21210011@unknown@formal@none@1@S@For the third quarter, net premiums were $742 million, up 9.6% from $677 million in last year's quarter, because of the expiration of the National Indemnity quota share reinsurance agreement.@@@@1@30@@oe@2-2-2013
21210012@unknown@formal@none@1@S@Net premiums written through Sept. 30 fell 5% to $2.1 billion from $2.2 billion a year ago, because of the writing of fewer policies at flat prices, the company said.@@@@1@30@@oe@2-2-2013
21210013@unknown@formal@none@1@S@Third-quarter and nine-month results don't include any provision for premium returns that could be ordered by the California Department of Insurance under Proposition 103.@@@@1@24@@oe@2-2-2013
21210014@unknown@formal@none@1@S@Fireman's Fund said it has applied for an exemption from these rate rollbacks, and plans to defend its filing in hearings before the department.@@@@1@24@@oe@2-2-2013
21211001@unknown@formal@none@1@S@CONTROL DATA Corp. said it is offering to purchase the $154.2 million amount of its 12 3/4% senior notes due June 15, 1991, at par, plus accrued interest to the Dec. 8 purchase date.@@@@1@34@@oe@2-2-2013
21211002@unknown@formal@none@1@S@The Minneapolis computer systems and services concern said the offer is required under the senior note indenture as a result of Control Data's recent sale of its disk drive subsidiary, Imprimis, to Seagate Technology Inc.@@@@1@35@@oe@2-2-2013
21212001@unknown@formal@none@1@S@Child's Game@@@@1@2@@oe@2-2-2013
21212002@unknown@formal@none@1@S@There was very slow play on the market today, They were selling and buying by halves; Instead of trading like Bears and Bulls, They behaved like cubs and calves.@@@@1@29@@oe@2-2-2013
21212003@unknown@formal@none@1@S@-- George O. Ludcke.@@@@1@4@@oe@2-2-2013
21212004@unknown@formal@none@1@S@Politrick@@@@1@1@@oe@2-2-2013
21212005@unknown@formal@none@1@S@I've learned one thing from candidates, A technique so deftly done: If a question can't be answered, Strongly answer an unasked one!@@@@1@22@@oe@2-2-2013
21212006@unknown@formal@none@1@S@-- Mimi Kay.@@@@1@3@@oe@2-2-2013
21212007@unknown@formal@none@1@S@Foresight@@@@1@1@@oe@2-2-2013
21212008@unknown@formal@none@1@S@We need to get a space platform set up soon -- just in case we want to step out for a breath of fresh air.@@@@1@25@@oe@2-2-2013
21212009@unknown@formal@none@1@S@-- Ivern Ball.@@@@1@3@@oe@2-2-2013
21213001@unknown@formal@none@1@S@After being whipsawed by a volatile stock market, Treasury bonds closed higher.@@@@1@12@@oe@2-2-2013
21213002@unknown@formal@none@1@S@But junk bonds took more hits.@@@@1@6@@oe@2-2-2013
21213003@unknown@formal@none@1@S@Early in the day, bond dealers said trading volume was heavy as large institutional investors scrambled to buy long-term Treasury bonds on speculation that the stock market's volatility would lead to a "flight-to-quality" rally.@@@@1@34@@oe@2-2-2013
21213004@unknown@formal@none@1@S@That happens when nervous stock investors dump equities and buy Treasurys, which are higher in quality and thus considered safe.@@@@1@20@@oe@2-2-2013
21213005@unknown@formal@none@1@S@"Some retail accounts, such as commercial banks and pension funds, wanted to get on the bandwagon before it was too late," said Sung Won Sohn, chief economist at Norwest Corp., Minneapolis.@@@@1@31@@oe@2-2-2013
21213006@unknown@formal@none@1@S@At one point, the Dow Jones Industrial average fell about 80 points on news that UAL Corp. decided to remain independent.@@@@1@21@@oe@2-2-2013
21213007@unknown@formal@none@1@S@In response, Treasury prices soared 1 1/8 points, or about $11.25 for each $1,000 face amount.@@@@1@16@@oe@2-2-2013
21213008@unknown@formal@none@1@S@But the gains in Treasury bonds were pared as stocks staged a partial recovery.@@@@1@14@@oe@2-2-2013
21213009@unknown@formal@none@1@S@The industrial average ended at 2659.22, down 3.69 points.@@@@1@9@@oe@2-2-2013
21213010@unknown@formal@none@1@S@Economists said the bond market's strength also is a sign that investors expect the Federal Reserve to cut interest rates amid growing evidence that the economy is slowing.@@@@1@28@@oe@2-2-2013
21213011@unknown@formal@none@1@S@While they don't expect the Fed to move right away, they say the case for lower rates is building.@@@@1@19@@oe@2-2-2013
21213012@unknown@formal@none@1@S@Yesterday, for example, the Commerce Department reported that new orders for durable goods fell 0.1%, while the nation's auto makers reported lackluster mid-October sales.@@@@1@24@@oe@2-2-2013
21213013@unknown@formal@none@1@S@The Treasury's 30-year bond ended over 1/4 point higher.@@@@1@9@@oe@2-2-2013
21213014@unknown@formal@none@1@S@Municipal, mortgage-backed and investment-grade corporate bonds rose 1/8 to 1/2 point.@@@@1@11@@oe@2-2-2013
21213015@unknown@formal@none@1@S@But high-yield, high-risk bonds fell 1/4 to 1/2 point with the stock market early in the session and never recovered.@@@@1@20@@oe@2-2-2013
21213016@unknown@formal@none@1@S@According to a trader at Drexel Burnham Lambert Inc., the hardest hit junk bonds were those issued by RJR Holdings Capital Corp., which are the easiest to sell.@@@@1@28@@oe@2-2-2013
21213017@unknown@formal@none@1@S@RJR's 14.70% bonds due 2007 fell 2 1/2 points.@@@@1@9@@oe@2-2-2013
21213018@unknown@formal@none@1@S@Trading activity in the junk market was extremely light as dealers couldn't find enough buyers to match sellers.@@@@1@18@@oe@2-2-2013
21213019@unknown@formal@none@1@S@"While the stock market was falling, most {junk bond holders} were just watching it not knowing what to do," said Paul Suckow, director of fixed-income securities at Oppenheimer Management Corp.@@@@1@30@@oe@2-2-2013
21213020@unknown@formal@none@1@S@"It was like driving down the highway watching a wreck.@@@@1@10@@oe@2-2-2013
21213021@unknown@formal@none@1@S@Everybody was rubber-necking."@@@@1@3@@oe@2-2-2013
21213022@unknown@formal@none@1@S@Adding to the junk market's jitters were reports that Donaldson, Lufkin & Jenrette Securities Corp. is having trouble structuring a $1.6 billion offering for TW Food Services Inc. and will postpone or even cancel the issue.@@@@1@36@@oe@2-2-2013
21213023@unknown@formal@none@1@S@TW is the largest franchisee of Hardee's, a fast-food restaurant, and operates several other food chains.@@@@1@16@@oe@2-2-2013
21213024@unknown@formal@none@1@S@Donaldson Lufkin wouldn't comment.@@@@1@4@@oe@2-2-2013
21213025@unknown@formal@none@1@S@Credit analysts said investors are nervous about the issue because they say the company's ability to meet debt payments is dependent on too many variables, including the sale of assets and the need to mortgage property to retire some existing debt.@@@@1@41@@oe@2-2-2013
21213026@unknown@formal@none@1@S@Also, the TW offering includes interest-deferred and pay-in-kind securities, which are currently unpopular.@@@@1@13@@oe@2-2-2013
21213027@unknown@formal@none@1@S@Meanwhile, investors turned a cold shoulder to the Treasury's sale of $10 billion of new two-year notes yesterday.@@@@1@18@@oe@2-2-2013
21213028@unknown@formal@none@1@S@"It's not too surprising that the auction was sloppy, given the volatility in the bond market because of stocks," said Robert T. McGee, a senior vice president at Tokai Bank Ltd.@@@@1@31@@oe@2-2-2013
21213029@unknown@formal@none@1@S@"People are looking past supply to lower interest rates, but they're also worried about being whipsawed by the volatility in the stock market."@@@@1@23@@oe@2-2-2013
21213030@unknown@formal@none@1@S@The new two-year notes were priced with an average yield of 7.74%.@@@@1@12@@oe@2-2-2013
21213031@unknown@formal@none@1@S@That was higher than the 7.71% to 7.73% average yield that traders had expected.@@@@1@14@@oe@2-2-2013
21213032@unknown@formal@none@1@S@In when-issued trading, the notes were quoted at a price to yield 7.78%.@@@@1@13@@oe@2-2-2013
21213033@unknown@formal@none@1@S@Sluggish demand was also evidenced by the weak 2.41-to-1 bid-to-cover ratio, which was lower than the average 2.79-to-1 ratio at the last 12 similar auctions.@@@@1@25@@oe@2-2-2013
21213034@unknown@formal@none@1@S@The ratio, which reflects the number of bids the Treasury receives for each bid accepted, is used to gauge investor demand.@@@@1@21@@oe@2-2-2013
21213035@unknown@formal@none@1@S@Dealers said players shied away from the note sale because they were concerned that prices at the time of the auction might erode if the stock market staged a recovery, which, in fact, did happen.@@@@1@35@@oe@2-2-2013
21213036@unknown@formal@none@1@S@Individual and Japanese participation in the auction was disappointing, according to dealers.@@@@1@12@@oe@2-2-2013
21213037@unknown@formal@none@1@S@"Interest by Japanese investors was limited," said Michael Moran, chief economist at Daiwa Securities America Inc.@@@@1@16@@oe@2-2-2013
21213038@unknown@formal@none@1@S@"They are typically not active in two-year note auctions, but today's participation could be viewed as lighter-than-normal."@@@@1@17@@oe@2-2-2013
21213039@unknown@formal@none@1@S@However, Mr. Moran added that the Japanese generally have a positive view of the U.S. bond market because of expectations that the dollar will remain strong and interest rates will decline.@@@@1@31@@oe@2-2-2013
21213040@unknown@formal@none@1@S@He said, "Possibly, they're waiting to buy at the (quarterly) refunding" of government debt to be held next month by the Treasury.@@@@1@22@@oe@2-2-2013
21213041@unknown@formal@none@1@S@A trader at a Japanese firm estimated that the Japanese purchased no more than 10% of the two-year notes.@@@@1@19@@oe@2-2-2013
21213042@unknown@formal@none@1@S@Treasury, Agency Securities@@@@1@3@@oe@2-2-2013
21213043@unknown@formal@none@1@S@Today investors will focus on the long-awaited auction of $4.5 billion of 30-year bonds by Resolution Funding Corp.@@@@1@18@@oe@2-2-2013
21213044@unknown@formal@none@1@S@The initial bond offering by the new government agency, which was created to help rescue the nation's troubled thrifts, isn't expected to see robust demand.@@@@1@25@@oe@2-2-2013
21213045@unknown@formal@none@1@S@A small yield premium over comparable Treasurys and a lack of liquidity is hampering dealers' efforts to drum up interest in the so-called bailout bonds.@@@@1@25@@oe@2-2-2013
21213046@unknown@formal@none@1@S@In when-issued trading, the Refcorp bonds were quoted at a price to yield 8.17%.@@@@1@14@@oe@2-2-2013
21213047@unknown@formal@none@1@S@Yesterday, the benchmark 30-year bond was quoted late at 102 18/32 to yield 7.89%, compared with 102 9/32 to yield 7.93% on Monday.@@@@1@23@@oe@2-2-2013
21213048@unknown@formal@none@1@S@The latest 10-year Treasury was quoted at 100 22/32 to yield 7.88%, compared with 100 17/32 to yield 7.9%.@@@@1@19@@oe@2-2-2013
21213049@unknown@formal@none@1@S@Short-term rates were unchanged to slightly lower.@@@@1@7@@oe@2-2-2013
21213050@unknown@formal@none@1@S@The discount rate on three-month Treasury bills was quoted at 7.52% for a bond-equivalent yield of 7.75%, while the rate on six-month Treasury bills was quoted at 7.47% for a yield of 7.85%.@@@@1@33@@oe@2-2-2013
21213051@unknown@formal@none@1@S@Rates are determined by the difference between the purchase price and face value.@@@@1@13@@oe@2-2-2013
21213052@unknown@formal@none@1@S@Thus, higher bidding narrows the investor's return while lower bidding widens it.@@@@1@12@@oe@2-2-2013
21213053@unknown@formal@none@1@S@Corporate Issues@@@@1@2@@oe@2-2-2013
21213054@unknown@formal@none@1@S@Several blue-chip companies tapped the new-issue market yesterday to take advantage of falling interest rates.@@@@1@15@@oe@2-2-2013
21213055@unknown@formal@none@1@S@Three of the largest offerings, by Exxon Capital Corp., Xerox Corp. and Citicorp, were underwritten by groups led by Salomon Brothers Inc.@@@@1@22@@oe@2-2-2013
21213056@unknown@formal@none@1@S@Exxon Capital, long-rumored to be a potential debt issuer, offered $200 million of 10-year notes priced to yield 8.31%.@@@@1@19@@oe@2-2-2013
21213057@unknown@formal@none@1@S@Citicorp issued $200 million of seven-year notes priced to yield 8.82%, and Xerox priced $150 million of six-year notes to yield 8.85%.@@@@1@22@@oe@2-2-2013
21213058@unknown@formal@none@1@S@Meanwhile, International Business Machines Corp. paved the way for a visit to the credit markets by filing a shelf registration with the Securities and Exchange Commission for $800 million in new debt.@@@@1@32@@oe@2-2-2013
21213059@unknown@formal@none@1@S@This is in addition to IBM's existing shelf registration under which $200 million in debt securities are available for issuance.@@@@1@20@@oe@2-2-2013
21213060@unknown@formal@none@1@S@In secondary trading, investment-grade corporate bonds ended 1/8 to 1/4 higher.@@@@1@11@@oe@2-2-2013
21213061@unknown@formal@none@1@S@Municipals@@@@1@1@@oe@2-2-2013
21213062@unknown@formal@none@1@S@Actively traded municipal bonds ended 1/4 to 1/2 point higher in brisk trading, despite a flood of new supply.@@@@1@19@@oe@2-2-2013
21213063@unknown@formal@none@1@S@New Jersey Turnpike Authority's 7.20% issue of 2018 finished 1/4 point stronger at 98 1/2 bid, to yield 7.32%.@@@@1@19@@oe@2-2-2013
21213064@unknown@formal@none@1@S@Traders said municipals were underpinned by influences including the climb in Treasury issue prices.@@@@1@14@@oe@2-2-2013
21213065@unknown@formal@none@1@S@Also, municipal bonds lured buying because the stock market remains wobbly, traders contended.@@@@1@13@@oe@2-2-2013
21213066@unknown@formal@none@1@S@Mainly, though, it was a favorable outlook for yesterday's new supply that propped up municipals, some traders said.@@@@1@18@@oe@2-2-2013
21213067@unknown@formal@none@1@S@Among the new issues was Massachusetts's $230 million of general obligation bonds.@@@@1@12@@oe@2-2-2013
21213068@unknown@formal@none@1@S@The bonds were won by a Goldman, Sachs & Co. group with a true interest cost of 7.17%.@@@@1@18@@oe@2-2-2013
21213069@unknown@formal@none@1@S@They were priced to yield from 6.00% in 1990 to 7.20% in 2009.@@@@1@13@@oe@2-2-2013
21213070@unknown@formal@none@1@S@The Massachusetts deal had an unsold balance of $84.3 million in late trading, the underwriter said.@@@@1@16@@oe@2-2-2013
21213071@unknown@formal@none@1@S@Mortgage-, Asset-Backed Securities@@@@1@3@@oe@2-2-2013
21213072@unknown@formal@none@1@S@Mortgage securities gained 3/32 to 9/32 point after a hectic session, with Government National Mortgage Association 8% securities as the standout issue.@@@@1@22@@oe@2-2-2013
21213073@unknown@formal@none@1@S@The Ginnie Mae issue rose amid talk of large purchases of the securities by institutional investors.@@@@1@16@@oe@2-2-2013
21213074@unknown@formal@none@1@S@The derivative markets remained active as one new issue was priced and talk circulated about more offerings in the next day or two.@@@@1@23@@oe@2-2-2013
21213075@unknown@formal@none@1@S@The Federal Home Loan Mortgage Corp. issued a $500 million real estate mortgage investment conduit backed by its 8 1/2% securities.@@@@1@21@@oe@2-2-2013
21213076@unknown@formal@none@1@S@In the asset-backed market, a big offering of Ford Motor Credit Corp. auto-loan securities was increased in size after strong institutional demand.@@@@1@22@@oe@2-2-2013
21213077@unknown@formal@none@1@S@The deal by the Ford Motor Co. unit, priced Monday, was increased to $3.05 billion from $2.58 billion.@@@@1@18@@oe@2-2-2013
21213078@unknown@formal@none@1@S@Among major pass-through issues, Ginnie Mae 9% securities for November delivery ended at 98 15/32, up 5/32, after touching an early high of 98 27/32; 8% securities were at 94 5/32, up 9/32; 9 1/2% securities at 100 15/32, up 4/32; and 10% securities at 102 11/32, up 3/32.@@@@1@49@@oe@2-2-2013
21213079@unknown@formal@none@1@S@Freddie Mac 9% securities were at 97 21/32, up 5/32.@@@@1@10@@oe@2-2-2013
21213080@unknown@formal@none@1@S@The Ginnie Mae 9% issue was yielding 9.34% to a 12-year average life assumption, as the spread above the Treasury 10-year note held at 1.46 percentage points.@@@@1@27@@oe@2-2-2013
21213081@unknown@formal@none@1@S@Foreign Bonds@@@@1@2@@oe@2-2-2013
21213082@unknown@formal@none@1@S@The Eurodollar bond market sprang to life late in the European trading session after the Dow Jones Industrial Average tumbled.@@@@1@20@@oe@2-2-2013
21213083@unknown@formal@none@1@S@Eurodollar bonds are often issued by foreign corporations, but interest and principal are paid in dollars.@@@@1@16@@oe@2-2-2013
21213084@unknown@formal@none@1@S@The bonds ended about 1/2 point higher yesterday.@@@@1@8@@oe@2-2-2013
21213085@unknown@formal@none@1@S@Prices of European government bonds also rose as U.S. stocks declined.@@@@1@11@@oe@2-2-2013
21213086@unknown@formal@none@1@S@West Germany's 7% issue due October 1999 rose 0.13 point to 99.93 to yield 7.01%, while the 6 3/4% issue due July 1994 rose 0.05 to 97.70 to yield 7.33%.@@@@1@30@@oe@2-2-2013
21213087@unknown@formal@none@1@S@Britain's 11 3/4% Treasury bond due 2003/2007 rose 17/32 to 112 6/32 to yield 10.05%, while the 12% notes due 1995 rose 11/32 to 104 2/32 to yield 10.93%.@@@@1@29@@oe@2-2-2013
21213088@unknown@formal@none@1@S@In Japan, government bond prices fell.@@@@1@6@@oe@2-2-2013
21213089@unknown@formal@none@1@S@The No. 111 4.6% bond due 1998 ended on brokers' screens at 95.22, down 0.17 point, to yield 5.41%.@@@@1@19@@oe@2-2-2013
21214001@unknown@formal@none@1@S@BSB BANCORP Inc., Binghamton, N.Y., said it increased its regular quarterly dividend 50%, to 15 cents a share from 10 cents.@@@@1@21@@oe@2-2-2013
21214002@unknown@formal@none@1@S@It is payable Dec. 10 to stock of record Nov. 24.@@@@1@11@@oe@2-2-2013
21214003@unknown@formal@none@1@S@The move was made because of the bank-holding company's increased profitability, officials said.@@@@1@13@@oe@2-2-2013
21214004@unknown@formal@none@1@S@In the third quarter, BSB earned $2 million, up from $1.8 million a year earlier.@@@@1@15@@oe@2-2-2013
21214005@unknown@formal@none@1@S@In national over-the-counter trading yesterday, BSB closed at $17.50, up 12.5 cents.@@@@1@12@@oe@2-2-2013
21214006@unknown@formal@none@1@S@BSB has 3.1 million shares outstanding.@@@@1@6@@oe@2-2-2013
21215001@unknown@formal@none@1@S@Staar Surgical Co.'s board said that it has removed Thomas R. Waggoner as president and chief executive officer and that John R. Wolf, formerly executive vice president, sales and marketing, has been named president and chief executive officer.@@@@1@38@@oe@2-2-2013
21215002@unknown@formal@none@1@S@Mr. Waggoner has been involved in a dispute with the board since August, when he ousted all the directors.@@@@1@19@@oe@2-2-2013
21215003@unknown@formal@none@1@S@Later they said they fired him, and two directors attempted to place the company under bankruptcy-law protection.@@@@1@17@@oe@2-2-2013
21215004@unknown@formal@none@1@S@A federal judge turned down the Chapter 11 petition.@@@@1@9@@oe@2-2-2013
21215005@unknown@formal@none@1@S@The company's latest announcement said Mr. Waggoner will remain a director of Staar, a maker of products for small-incision surgery.@@@@1@20@@oe@2-2-2013
21215006@unknown@formal@none@1@S@Mr. Wolf and other members of the board declined to comment on the announcement.@@@@1@14@@oe@2-2-2013
21215007@unknown@formal@none@1@S@Mr. Waggoner couldn't be reached.@@@@1@5@@oe@2-2-2013
21215008@unknown@formal@none@1@S@The Staar board also said that John R. Ford resigned as a director, and that Mr. Wolf was named a member of the board.@@@@1@24@@oe@2-2-2013
21216001@unknown@formal@none@1@S@EAST GERMANY'S KRENZ WARNED against further pro-democracy protests.@@@@1@8@@oe@2-2-2013
21216002@unknown@formal@none@1@S@After the legislature confirmed him as the Communist Party leader, Krenz said demonstrations to demand democratic freedoms could cause a "worsening of the situation, or confrontation."@@@@1@26@@oe@2-2-2013
21216003@unknown@formal@none@1@S@He also reaffirmed East Germany's allegiance to Communist orthodoxy.@@@@1@9@@oe@2-2-2013
21216004@unknown@formal@none@1@S@But as many as 12,000 people marched in East Berlin after the speech to protest his election.@@@@1@17@@oe@2-2-2013
21216005@unknown@formal@none@1@S@During the balloting, 26 members of the 500-seat Parliament voted against Krenz, a move considered unprecedented in the country's 40-year history.@@@@1@21@@oe@2-2-2013
21216006@unknown@formal@none@1@S@Officials in East Berlin, responding to complaints from opposition groups, admitted police used excessive force in dispersing protesters this month.@@@@1@20@@oe@2-2-2013
21216007@unknown@formal@none@1@S@The Iran-Contra judge agreed to allow Poindexter to subpoena the personal papers of ex-President Reagan, ruling that there was sufficient evidence that the data would be important to the defense.@@@@1@30@@oe@2-2-2013
21216008@unknown@formal@none@1@S@But the judge denied a request by the former national security adviser, who faces five criminal charges, to seek documents from Bush.@@@@1@22@@oe@2-2-2013
21216009@unknown@formal@none@1@S@San Francisco Bay area officials said nine people remain missing in the aftermath of last week's earthquake.@@@@1@17@@oe@2-2-2013
21216010@unknown@formal@none@1@S@The death toll rose to 63.@@@@1@6@@oe@2-2-2013
21216011@unknown@formal@none@1@S@The House, meanwhile, approved $2.85 billion to aid in the recovery from the temblor and from Hurricane Hugo as state legislators moved toward a temporary sales-tax increase.@@@@1@27@@oe@2-2-2013
21216012@unknown@formal@none@1@S@U.S. officials expressed skepticism over an Israeli effort to show the PLO continues to practice terrorism.@@@@1@16@@oe@2-2-2013
21216013@unknown@formal@none@1@S@Israel provided the State Department with a list of recent alleged terrorist incidents attributed to forces controlled by Arafat, but the U.S. said it wasn't satisfied that the incidents constituted terrorism.@@@@1@31@@oe@2-2-2013
21216014@unknown@formal@none@1@S@TV evangelist Jim Bakker was sentenced to 45 years in prison and fined $500,000 for defrauding followers of his PTL ministry.@@@@1@21@@oe@2-2-2013
21216015@unknown@formal@none@1@S@Bakker, who was immediately taken into custody, was convicted Oct. 5 by a federal court jury in Charlotte, N.C., of fraud and conspiracy for diverting more than $3.7 million of ministry funds for personal use.@@@@1@35@@oe@2-2-2013
21216016@unknown@formal@none@1@S@Lawmakers in Moscow voted to deny the Communist Party its 100 guaranteed seats in the Soviet Congress, meaning Gorbachev and other aides might have to face voters.@@@@1@27@@oe@2-2-2013
21216017@unknown@formal@none@1@S@In Warsaw, Shevardnadze held his first talks with the Solidarity-led government and vowed to maintain fuel supplies.@@@@1@17@@oe@2-2-2013
21216018@unknown@formal@none@1@S@Poland's premier is to visit Moscow next month.@@@@1@8@@oe@2-2-2013
21216019@unknown@formal@none@1@S@The Arab League pledged an accord for a complete Syrian troop pullout from Lebanon, where about 70,000 people marched to the headquarters of Christian leader Aoun to support his rejection of a peace plan approved Sunday by Lebanon's legislature.@@@@1@39@@oe@2-2-2013
21216020@unknown@formal@none@1@S@The plan lacked a withdrawal timetable.@@@@1@6@@oe@2-2-2013
21216021@unknown@formal@none@1@S@Pro-Iranian kidnappers renewed an offer to trade their captives in Lebanon for at least 15 Shiite Moslem comrades jailed in Kuwait.@@@@1@21@@oe@2-2-2013
21216022@unknown@formal@none@1@S@The statement by Islamic Jihad, which holds at least two U.S. hostages, was accompanied by a photograph of Associated Press correspondent Terry Anderson, longest held of 18 Western hostages.@@@@1@29@@oe@2-2-2013
21216023@unknown@formal@none@1@S@The Treasury Department said S&Ls reject blacks for mortgage loans twice as often as they reject whites.@@@@1@17@@oe@2-2-2013
21216024@unknown@formal@none@1@S@The department's Office of Thrift Supervision said that doesn't necessarily mean thrifts are biased, but conceded that it doesn't have data about applicants to determine why blacks are rejected more often.@@@@1@31@@oe@2-2-2013
21216025@unknown@formal@none@1@S@Emergency crews searched through the charred rubble of a Phillips Petroleum Co. plastics plant near Pasadena, Texas, where a series of explosions Monday killed at least two people and injured 124.@@@@1@31@@oe@2-2-2013
21216026@unknown@formal@none@1@S@Company officials said 22 workers were missing and presumed dead.@@@@1@10@@oe@2-2-2013
21216027@unknown@formal@none@1@S@Safety authorities didn't immediately know the cause of the blasts.@@@@1@10@@oe@2-2-2013
21216028@unknown@formal@none@1@S@NATO defense ministers opened a two-day meeting in Portugal to assess the alliance's nuclear-weapons needs amid reduced East-West tensions.@@@@1@19@@oe@2-2-2013
21216029@unknown@formal@none@1@S@The ministers ordered a study on the strategic role of nuclear arms in Western Europe once Soviet conventional weapons are reduced in the East bloc.@@@@1@25@@oe@2-2-2013
21216030@unknown@formal@none@1@S@The Justice Department scrambled to play down the significance of revised guidelines concerning prosecutions under the federal racketeering law.@@@@1@19@@oe@2-2-2013
21216031@unknown@formal@none@1@S@The guidelines, which discourage prosecutors from seeking court orders seizing the assets of certain racketeering defendants prior to trial, were first disclosed this week.@@@@1@24@@oe@2-2-2013
21216032@unknown@formal@none@1@S@Died: S. Clark Beise, 91, ex-president and chief executive officer of Bank of America NT&SA, Saturday, in Hillsboro, Calif.@@@@1@19@@oe@2-2-2013
21217001@unknown@formal@none@1@S@STOCK PRICES SWUNG wildly as the market reacted to an initial plunge by UAL shares, followed by a sharp rebound in the afternoon.@@@@1@23@@oe@2-2-2013
21217002@unknown@formal@none@1@S@The Dow Jones industrials, down over 80 points in the morning, closed off 3.69, at 2659.22.@@@@1@16@@oe@2-2-2013
21217003@unknown@formal@none@1@S@Bond prices surged in reaction to the sell-off in stocks, then eased slightly during the afternoon recovery.@@@@1@17@@oe@2-2-2013
21217004@unknown@formal@none@1@S@The dollar finished lower.@@@@1@4@@oe@2-2-2013
21217005@unknown@formal@none@1@S@UAL's stock regained most of an early loss amid speculation one or more investors may challenge the airline's decision to stay independent.@@@@1@22@@oe@2-2-2013
21217006@unknown@formal@none@1@S@The stock closed down $8.375, at $170, after plunging $33, to $145.@@@@1@12@@oe@2-2-2013
21217007@unknown@formal@none@1@S@Ford may seek all of Jaguar, setting the stage for a possible bidding war with GM.@@@@1@16@@oe@2-2-2013
21217008@unknown@formal@none@1@S@Jaguar has been discussing an alliance with GM, but Ford's move may derail the talks.@@@@1@15@@oe@2-2-2013
21217009@unknown@formal@none@1@S@Car and truck sales slid 20.5% in mid-October as U.S. manufacturers paid the price for heavy incentives earlier in the year.@@@@1@21@@oe@2-2-2013
21217010@unknown@formal@none@1@S@General Motors continued to be hardest hit.@@@@1@7@@oe@2-2-2013
21217011@unknown@formal@none@1@S@Durable goods orders slipped 0.1% in September, reflecting weakening auto demand after a spurt of orders for new 1990 models.@@@@1@20@@oe@2-2-2013
21217012@unknown@formal@none@1@S@Excluding transportation items, orders rose 1.8%.@@@@1@6@@oe@2-2-2013
21217013@unknown@formal@none@1@S@Norfolk Southern's board approved a buy-back of up to 45 million shares, valued at over $1.7 billion.@@@@1@17@@oe@2-2-2013
21217014@unknown@formal@none@1@S@The repurchase, coupled with an earlier buyback, will reduce the firm's shares outstanding by over 26%.@@@@1@16@@oe@2-2-2013
21217015@unknown@formal@none@1@S@PS New Hampshire received a sweetened $2.25 billion offer from Northeast Utilities, likely spurring a new round of bidding for the utility.@@@@1@22@@oe@2-2-2013
21217016@unknown@formal@none@1@S@GE executives were accused by U.S. prosecutors of providing "misleading and false" data to the Pentagon in 1985 to cover up "longstanding fraudulent" billing practices.@@@@1@25@@oe@2-2-2013
21217017@unknown@formal@none@1@S@Texaco said profit rose 11% in the quarter, partly due to a massive restructuring.@@@@1@14@@oe@2-2-2013
21217018@unknown@formal@none@1@S@Sun posted a gain.@@@@1@4@@oe@2-2-2013
21217019@unknown@formal@none@1@S@Mobil, Shell and Chevron had declines.@@@@1@6@@oe@2-2-2013
21217020@unknown@formal@none@1@S@Mobil is preparing to slash its work force in the U.S., possibly as soon as next month, sources said.@@@@1@19@@oe@2-2-2013
21217021@unknown@formal@none@1@S@Sears posted a 16% drop in third-quarter profit as U.S. retail operations recorded the first loss in over five years.@@@@1@20@@oe@2-2-2013
21217022@unknown@formal@none@1@S@The results show Sears is struggling to attract shoppers.@@@@1@9@@oe@2-2-2013
21217023@unknown@formal@none@1@S@Digital Equipment announced its first mainframe computers, targeting IBM's largest market and heating up the industry's biggest rivalry.@@@@1@18@@oe@2-2-2013
21217024@unknown@formal@none@1@S@Cray Research expects supercomputer sales to be flat next year, the latest in a series of negative announcements by the company.@@@@1@21@@oe@2-2-2013
21217025@unknown@formal@none@1@S@Short interest increased 6% in the Nasdaq over-the-counter market for the month ended Oct. 13.@@@@1@15@@oe@2-2-2013
21217026@unknown@formal@none@1@S@Salomon posted an unexpectedly big gain in quarterly earnings, aided by its securities trading and investment banking activities.@@@@1@18@@oe@2-2-2013
21217027@unknown@formal@none@1@S@Procter & Gamble's profit surged 38% in its latest fiscal quarter, aided by a gain from a legal settlement and continued growth overseas.@@@@1@23@@oe@2-2-2013
21217028@unknown@formal@none@1@S@Goodyear's profit rose 11% in the quarter, buoyed by improved operating results in its tire business.@@@@1@16@@oe@2-2-2013
21217029@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
21217030@unknown@formal@none@1@S@Stocks: Volume 237,960,000 shares.@@@@1@4@@oe@2-2-2013
21217031@unknown@formal@none@1@S@Dow Jones industrials 2659.22, off 3.69; transportation 1210.70, off 25.96; utilities 215.04, off 0.31.@@@@1@14@@oe@2-2-2013
21217032@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3425.22, up@@@@1@8@@oe@2-2-2013
21217033@unknown@formal@none@1@S@Commodities: Dow Jones futures index 129.24, off 0.25; spot index 130.76, off 0.88.@@@@1@13@@oe@2-2-2013
21217034@unknown@formal@none@1@S@Dollar: 141.45 yen, off 0.45; 1.8355 marks, off 0.0115.@@@@1@9@@oe@2-2-2013
21218001@unknown@formal@none@1@S@Genetic Defect Spotted In 3-Day-Old Embryo@@@@1@6@@oe@2-2-2013
21218002@unknown@formal@none@1@S@RESEARCHERS diagnosed a genetic defect in a three-day-old mouse embryo in an experiment directly applicable to humans.@@@@1@17@@oe@2-2-2013
21218003@unknown@formal@none@1@S@Prenatal diagnosis of genetic defects as early as the sixth week of pregnancy is increasingly common today.@@@@1@17@@oe@2-2-2013
21218004@unknown@formal@none@1@S@But the mouse experiment at a Medical Research Council laboratory in London shows genetic defects can be detected three days after conception using a new American-developed gene-copying technique.@@@@1@28@@oe@2-2-2013
21218005@unknown@formal@none@1@S@The experiment, applicable to many genetic disorders, involved beta-thalassemia, a severe blood anemia resulting from a missing hemoglobin gene.@@@@1@19@@oe@2-2-2013
21218006@unknown@formal@none@1@S@It's an inherited human disorder that's been duplicated in mice.@@@@1@10@@oe@2-2-2013
21218007@unknown@formal@none@1@S@In the experiment, mice with the defective gene were mated.@@@@1@10@@oe@2-2-2013
21218008@unknown@formal@none@1@S@Three days later, before the new embryo had become implanted in the uterus, it was washed out of the mother mouse.@@@@1@21@@oe@2-2-2013
21218009@unknown@formal@none@1@S@The embryo had progressed only to a clump of eight identical cells.@@@@1@12@@oe@2-2-2013
21218010@unknown@formal@none@1@S@One cell was teased out, and its DNA extracted.@@@@1@9@@oe@2-2-2013
21218011@unknown@formal@none@1@S@Using the new technique developed by Cetus Corp., called the polymerase chain reaction, the scientists rapidly made millions of copies of the section of DNA that ordinarily contains the hemoglobin gene, providing enough copies to test.@@@@1@36@@oe@2-2-2013
21218012@unknown@formal@none@1@S@A genetic probe showed the hemoglobin gene was missing, the researchers report in the medical journal Lancet.@@@@1@17@@oe@2-2-2013
21218013@unknown@formal@none@1@S@In the report, two molecular biologists suggest such embryo diagnosis can be used by couples at high risk of passing a genetic defect to a child.@@@@1@26@@oe@2-2-2013
21218014@unknown@formal@none@1@S@For example, infertile couples who have the woman's eggs fertilized in the test tube usually have several eggs fertilized at a time.@@@@1@22@@oe@2-2-2013
21218015@unknown@formal@none@1@S@When the fertilized cells divide to eight cells, a single cell from each embryo can be tested for genetic defects.@@@@1@20@@oe@2-2-2013
21218016@unknown@formal@none@1@S@A healthy embryo can be picked for implantation and defective ones discarded.@@@@1@12@@oe@2-2-2013
21218017@unknown@formal@none@1@S@Or in other couples, the embryo could be temporarily taken out and tested three days after conception and returned if healthy, or discarded if not.@@@@1@25@@oe@2-2-2013
21218018@unknown@formal@none@1@S@Yeast Adapted to Make Gene-Spliced Drugs@@@@1@6@@oe@2-2-2013
21218019@unknown@formal@none@1@S@AN OIL COMPANY finds a sideline in the microscopic world of yeast.@@@@1@12@@oe@2-2-2013
21218020@unknown@formal@none@1@S@In the early 1970s, when the "world food crisis" was a major worry, Phillips Petroleum Co., like several other big companies, began developing "single-cell protein," edible protein made by microbes feeding on non-edible materials.@@@@1@34@@oe@2-2-2013
21218021@unknown@formal@none@1@S@Phillips found and improved a yeast, "Pichia pastoris," which made protein from natural gas-derived alcohol.@@@@1@15@@oe@2-2-2013
21218022@unknown@formal@none@1@S@It also could convert glucose from farm wastes into edible protein.@@@@1@11@@oe@2-2-2013
21218023@unknown@formal@none@1@S@Single-cell protein never panned out, and most companies abandoned such research.@@@@1@11@@oe@2-2-2013
21218024@unknown@formal@none@1@S@But Phillips persisted, calling in scientists from the Salk Institute.@@@@1@10@@oe@2-2-2013
21218025@unknown@formal@none@1@S@They've now adapted the yeast to making genetically engineered drugs.@@@@1@10@@oe@2-2-2013
21218026@unknown@formal@none@1@S@Like the bacteria used by genetic engineers, the yeast can take in human genes and churn out human proteins for medical use.@@@@1@22@@oe@2-2-2013
21218027@unknown@formal@none@1@S@But the yeast genetic apparatus is more like that of animals than the bacterial genetic apparatus.@@@@1@16@@oe@2-2-2013
21218028@unknown@formal@none@1@S@Thus, the proteins from the yeast are molecularly more like human proteins than those from bacteria.@@@@1@16@@oe@2-2-2013
21218029@unknown@formal@none@1@S@The oil company claims its yeast system also is better than bacteria at high-volume production of genetically engineered drugs.@@@@1@19@@oe@2-2-2013
21218030@unknown@formal@none@1@S@Chiron Corp., an Emeryville, Calif., biotechnology firm, is seeing if the Phillips yeast can be used to make its genetically engineered human proteins.@@@@1@23@@oe@2-2-2013
21218031@unknown@formal@none@1@S@Peeking Inside Arteries From Outside the Body@@@@1@7@@oe@2-2-2013
21218032@unknown@formal@none@1@S@VISUALIZING BLOOD vessels without poking catheters into the body may come out of research at AT&T Bell Laboratories.@@@@1@18@@oe@2-2-2013
21218033@unknown@formal@none@1@S@Strokes, heart attacks, leg pains (intermittent claudication) and other problems stem from clogging of the arteries by cholesterol-rich deposits.@@@@1@19@@oe@2-2-2013
21218034@unknown@formal@none@1@S@At present, doctors can see how badly an artery is clogged only by inserting a thin catheter into the artery and injecting a fluid that makes the arteries visible on X-rays.@@@@1@31@@oe@2-2-2013
21218035@unknown@formal@none@1@S@A non-invasive method is being researched by biophysicist Lynn Jelinski at the AT&T unit.@@@@1@14@@oe@2-2-2013
21218036@unknown@formal@none@1@S@It relies on the fact that certain atoms give off detectable signals when subjected to an intense magnetic field.@@@@1@19@@oe@2-2-2013
21218037@unknown@formal@none@1@S@It's the same phenomenon used in the new MRI (magnetic resonance imaging) scanners being used in hospitals in place of X-ray scans.@@@@1@22@@oe@2-2-2013
21218038@unknown@formal@none@1@S@In the Bell Labs experiments, an MRI-type of machine, synchronized with the heartbeat via an electrocardiogram, rapidly flashes a magnetic field on and off as blood passes a certain point in a vessel.@@@@1@33@@oe@2-2-2013
21218039@unknown@formal@none@1@S@The rapidly flashing return signals from excited hydrogen atoms in the blood give a "stop-motion" movie of the blood-filled vessel, (like the "stop-motion" seen in disco dancers when a strobe light is flashing).@@@@1@33@@oe@2-2-2013
21218040@unknown@formal@none@1@S@The scientists have experimented on the tiny neck arteries of rats.@@@@1@11@@oe@2-2-2013
21218041@unknown@formal@none@1@S@They've been able to measure the minuscule movements of the artery wall as the beating heart raises and lowers the pressure of the flowing blood, a first for such tiny blood vessels, they report in Nature, a scientific journal.@@@@1@39@@oe@2-2-2013
21218042@unknown@formal@none@1@S@They now are experimenting with measuring blood flow.@@@@1@8@@oe@2-2-2013
21218043@unknown@formal@none@1@S@The ultimate hope is that the technique could identify diseased vessels.@@@@1@11@@oe@2-2-2013
21218044@unknown@formal@none@1@S@Odds and Ends@@@@1@3@@oe@2-2-2013
21218045@unknown@formal@none@1@S@TESTS ON 2,800-year-old mummies from Chile indicate ancient wood fires didn't produce dioxins or dibenzofurans, contradicting a theory the two pollutants today are coming from wood burning, General Electric Co. reports in Environmental Science & Technology magazine. . . .@@@@1@40@@oe@2-2-2013
21218046@unknown@formal@none@1@S@Almost 40% of schizophrenic men have an impaired sense of smell vs. fewer than 10% of schizophrenic women, reports the American Journal of Psychiatry.@@@@1@24@@oe@2-2-2013
21219001@unknown@formal@none@1@S@The Justice Department said it filed a lawsuit seeking more than $7.7 million from a Meredith Corp. unit on charges that the company defrauded the government on a contract to provide relocation services for federal employees.@@@@1@36@@oe@2-2-2013
21219002@unknown@formal@none@1@S@The suit, filed in federal trial court in Des Moines, Iowa, where Meredith is based, alleges that the diversified media company's relocation unit cheated the government by misrepresenting the value of government employees' homes.@@@@1@34@@oe@2-2-2013
21219003@unknown@formal@none@1@S@The government contract required Meredith Relocation Corp. to purchase employees' homes based on independent appraisals.@@@@1@15@@oe@2-2-2013
21219004@unknown@formal@none@1@S@The Justice Department alleges that the company "engaged in various forms of misrepresentation" with the goal of reducing the appraised value of employees' homes.@@@@1@24@@oe@2-2-2013
21219005@unknown@formal@none@1@S@In the suit, the department seeks to recover $7.7 million in costs incurred when the government terminated its contract with Meredith Relocation and sought other contracts to replace it.@@@@1@29@@oe@2-2-2013
21219006@unknown@formal@none@1@S@The department also said it seeks "three times the government's damages, which are presently undetermined, plus penalties."@@@@1@17@@oe@2-2-2013
21219007@unknown@formal@none@1@S@Officials with Meredith didn't have any immediate comment on the suit.@@@@1@11@@oe@2-2-2013
21220001@unknown@formal@none@1@S@Lloyd's of London said it plans to clamp down on the ability of underwriting syndicates to leave their annual accounts open beyond the customary three years.@@@@1@26@@oe@2-2-2013
21220002@unknown@formal@none@1@S@Underwriting syndicates at Lloyd's, the world's largest insurance market, generally don't close their accounts for three years, to allow for the filing of claims and litigation.@@@@1@26@@oe@2-2-2013
21220003@unknown@formal@none@1@S@When such claims and litigation extend beyond the period, the syndicates can extend their accounting deadlines.@@@@1@16@@oe@2-2-2013
21220004@unknown@formal@none@1@S@Lloyd's said there are currently 115 open account years involving 68 of the market's roughly 360 syndicates.@@@@1@17@@oe@2-2-2013
21220005@unknown@formal@none@1@S@The open-year accounting practice "is widely recognized within Lloyd's as of serious concern" to the 31,329 member investors, who underwrite insurance at Lloyd's in return for premium and investment income, Lloyd's said.@@@@1@32@@oe@2-2-2013
21220006@unknown@formal@none@1@S@The procedure causes "great uncertainty" because an investor can't be sure of his or her individual liability, Lloyd's said.@@@@1@19@@oe@2-2-2013
21220007@unknown@formal@none@1@S@As a result, the insurance market plans new measures to restrict the ability of syndicate officials to leave years open.@@@@1@20@@oe@2-2-2013
21220008@unknown@formal@none@1@S@Lloyd's said it expects to enact new rules mandating the changes by year end.@@@@1@14@@oe@2-2-2013
21220009@unknown@formal@none@1@S@Under the new rules, the officials will have to secure additional information and reports from actuaries, including an assessment of whether officials have acted reasonably.@@@@1@25@@oe@2-2-2013
21220010@unknown@formal@none@1@S@In addition, officials will have to get quotes for certain reinsurance contracts and obtain approvals from other syndicate directors.@@@@1@19@@oe@2-2-2013
21221001@unknown@formal@none@1@S@Computer Associates International Inc. reported earnings for the second quarter, ended Sept. 30, plummeted 66%, primarily because of the acquisition of Cullinet Software Inc.@@@@1@24@@oe@2-2-2013
21221002@unknown@formal@none@1@S@The nation's largest software company earned $9.6 million, or five cents a share, compared with $28 million, or 16 cents a share, a year earlier.@@@@1@25@@oe@2-2-2013
21221003@unknown@formal@none@1@S@Revenue rose 5% to $282 million from $268.3 million.@@@@1@9@@oe@2-2-2013
21221004@unknown@formal@none@1@S@The drop in earnings had been anticipated by most Wall Street analysts, but the results were reported after the market closed.@@@@1@21@@oe@2-2-2013
21221005@unknown@formal@none@1@S@Computer Associates closed at $13.625, down 25 cents, in composite trading on the New York Stock Exchange.@@@@1@17@@oe@2-2-2013
21221006@unknown@formal@none@1@S@Anthony Wang, president, attributed the drop to the disruption of the company's business resulting from the prolonged process of acquiring Cullinet.@@@@1@21@@oe@2-2-2013
21221007@unknown@formal@none@1@S@The acquisition was completed in September.@@@@1@6@@oe@2-2-2013
21221008@unknown@formal@none@1@S@In August, the company warned investors that the acquisition was being delayed, and many customers were holding off on purchase decisions until the takeover was completed.@@@@1@26@@oe@2-2-2013
21221009@unknown@formal@none@1@S@The delays mainly affected sales of data base management products, a core area for both Computer Associates and Cullinet, as well as sales of other products as part of package sales.@@@@1@31@@oe@2-2-2013
21222001@unknown@formal@none@1@S@Residents of this city soon will be seeing ads urging them to visit "Cleveland's outdoor museum" -- Lake View Cemetery.@@@@1@20@@oe@2-2-2013
21222002@unknown@formal@none@1@S@Despite such famous tenants as oil magnate John D. Rockefeller, Lake View Cemetery has fallen on hard times.@@@@1@18@@oe@2-2-2013
21222003@unknown@formal@none@1@S@So the inner-city burial ground is trying to resurrect itself with a television advertising campaign.@@@@1@15@@oe@2-2-2013
21222004@unknown@formal@none@1@S@The ads celebrate the achievements of some of Lake View's residents.@@@@1@11@@oe@2-2-2013
21222005@unknown@formal@none@1@S@A spot honoring Bill White, the inventor of chewing gum, shows a woman trying to extricate her high-heeled shoe from a wad of gum.@@@@1@24@@oe@2-2-2013
21222006@unknown@formal@none@1@S@Another focuses on Charles Brush, the first person to light a city electrically.@@@@1@13@@oe@2-2-2013
21222007@unknown@formal@none@1@S@It shows a boy hurling rocks at a street lamp.@@@@1@10@@oe@2-2-2013
21222008@unknown@formal@none@1@S@Street lights, the ad points out, "helped sharpen the arm of many a budding baseball player."@@@@1@16@@oe@2-2-2013
21222009@unknown@formal@none@1@S@Cemetery officials hope the ads, which will begin airing next month, will not only draw visitors but bolster burials and endowment fund contributions.@@@@1@23@@oe@2-2-2013
21222010@unknown@formal@none@1@S@Lake View had an operating deficit last year and has a poor reputation as an out-of-repair and crime-infested cemetery.@@@@1@19@@oe@2-2-2013
21222011@unknown@formal@none@1@S@The private, non-profit cemetery has had trouble competing against its for-profit counterparts, which use direct mail and other advertising to sell lots.@@@@1@22@@oe@2-2-2013
21222012@unknown@formal@none@1@S@"We don't want to be known as ambulance chasers," says William Garrison, Lake View's president.@@@@1@15@@oe@2-2-2013
21222013@unknown@formal@none@1@S@"We want people to think of Lake View as an historical park and educational experience. . . .@@@@1@18@@oe@2-2-2013
21222014@unknown@formal@none@1@S@A pleasant place to come and spend a few hours."@@@@1@10@@oe@2-2-2013
21222015@unknown@formal@none@1@S@Not all of the cemetery's better-known tenants lend themselves to the promotional job at hand, however.@@@@1@16@@oe@2-2-2013
21222016@unknown@formal@none@1@S@For example, President James A. Garfield is entombed here, the victim of an assassination in 1881.@@@@1@16@@oe@2-2-2013
21222017@unknown@formal@none@1@S@(Mr. Garrison notes, however, that the Garfield tomb is one of the nation's premier examples of Romanesque architecture.)@@@@1@18@@oe@2-2-2013
21222018@unknown@formal@none@1@S@Mr. Rockefeller, buried beneath a 180-foot-tall granite obelisk, didn't seem right for an ad either.@@@@1@15@@oe@2-2-2013
21222019@unknown@formal@none@1@S@The oil magnate, who spent his later years passing out dimes to counter his penny-pinching image, "isn't terribly amusing," says Barry Olson, creative director at Innis-Maggiore-Olson, Canton, Ohio, which is producing the ads.@@@@1@33@@oe@2-2-2013
21222020@unknown@formal@none@1@S@But there are plenty of other promising prospects at Lake View, promoters believe: Ernest Ball, for instance, who wrote "When Irish Eyes are Smiling," and Garrett Morgan, the inventor of the gas mask and the tri-colored traffic light.@@@@1@38@@oe@2-2-2013
21223001@unknown@formal@none@1@S@Euro Disneyland shares made a debut like Snow White yesterday while most of the London stock market looked like it had eaten the Evil Queen's poisoned apple.@@@@1@27@@oe@2-2-2013
21223002@unknown@formal@none@1@S@In its first day of when-issued trading here, Euro Disney soared like Dumbo to close at 814 pence ($13.05), up 15% from its 707-pence offering price.@@@@1@26@@oe@2-2-2013
21223003@unknown@formal@none@1@S@The overall London market, following Wall Street's early nosedive, took a late beating.@@@@1@13@@oe@2-2-2013
21223004@unknown@formal@none@1@S@The Financial Times-Stock Exchange 100-Share Index plummeted 40.4 points to close at 2149.3.@@@@1@13@@oe@2-2-2013
21223005@unknown@formal@none@1@S@Traders credited Euro Disney's share performance to the tremendous hyping of the project that the shares are destined to help finance: Walt Disney Co.'s 4,800-acre theme park 20 miles east of Paris.@@@@1@32@@oe@2-2-2013
21223006@unknown@formal@none@1@S@The park is slated to open in 1992.@@@@1@8@@oe@2-2-2013
21223007@unknown@formal@none@1@S@"The issue was very well-received -- Disney is such a well-known, you can say world-wide, name," said Vernon Dempsey, head trader of European equities at Kleinwort Benson Ltd., which is making a market in the issue.@@@@1@36@@oe@2-2-2013
21223008@unknown@formal@none@1@S@Mr. Dempsey estimated that the issue's London debut was accompanied by "very, very heavy turnover -- between five million and six million shares."@@@@1@23@@oe@2-2-2013
21223009@unknown@formal@none@1@S@Most of the buying was institutional, he added.@@@@1@8@@oe@2-2-2013
21223010@unknown@formal@none@1@S@Official trading in the shares will start in London, Paris and Brussels on Nov. 6, when the French-franc denominated offering, valued at the equivalent of nearly $1 billion, comes to market in the European Community.@@@@1@35@@oe@2-2-2013
21223011@unknown@formal@none@1@S@U.S. investors will be permitted to buy the shares from EC investors 90 days later.@@@@1@15@@oe@2-2-2013
21223012@unknown@formal@none@1@S@Because of the interest connected with the issue, the London exchange took the unusual step of letting traders establish an officially sanctioned when-issued market.@@@@1@24@@oe@2-2-2013
21223013@unknown@formal@none@1@S@A volatile, unofficial "gray" market in the shares has been operating in Paris for about two weeks.@@@@1@17@@oe@2-2-2013
21223014@unknown@formal@none@1@S@In contrast to the London performance, Euro Disney there closed down three francs yesterday, at 79 1/2 francs ($12.66) bid, but still about 10% over the 72-franc offering price.@@@@1@29@@oe@2-2-2013
21223015@unknown@formal@none@1@S@"A lot of people are getting hurt on this wicked whipsawing," cautioned Alistair Cuddeford, a London-based Salomon Brothers International Ltd. trader who makes a market in franc-denominated Euro Disney shares.@@@@1@30@@oe@2-2-2013
21223016@unknown@formal@none@1@S@"There should be no great rush for investors to buy this.@@@@1@11@@oe@2-2-2013
21223017@unknown@formal@none@1@S@A lot of big European banks, mostly French, and Swiss arb accounts have been buying the stock just to flip it" for a quick profit, he said.@@@@1@27@@oe@2-2-2013
21224001@unknown@formal@none@1@S@Albert Fried Jr., a 59-year-old director and holder of a 9.5% stake in the company, was named chairman of this maker of products for the construction equipment, material handling and railroad industries.@@@@1@32@@oe@2-2-2013
21224002@unknown@formal@none@1@S@He succeeds L.L. White Jr., 62, who resigned but continues as a director.@@@@1@13@@oe@2-2-2013
21224003@unknown@formal@none@1@S@Mr. Fried also is the managing partner of Albert Fried & Co.@@@@1@12@@oe@2-2-2013
21225001@unknown@formal@none@1@S@Ford Motor Co. intensified its battle with General Motors Corp. over Jaguar PLC by saying it is prepared to make a bid for all of the British auto maker when restrictions on its shareholding are lifted.@@@@1@36@@oe@2-2-2013
21225002@unknown@formal@none@1@S@The statement was part of a Ford filing with the U.S. Securities and Exchange Commission.@@@@1@15@@oe@2-2-2013
21225003@unknown@formal@none@1@S@Ford didn't say how much it might offer for Jaguar, or when.@@@@1@12@@oe@2-2-2013
21225004@unknown@formal@none@1@S@The British government currently forbids any outside investor from holding more than 15% of the company's shares without permission until Dec. 31,@@@@1@22@@oe@2-2-2013
21225005@unknown@formal@none@1@S@But with its stake in Jaguar, which it raised yesterday to 11.95%, Ford could convene a special Jaguar shareholders' meeting and urge holders to vote to drop the restriction sooner.@@@@1@30@@oe@2-2-2013
21225006@unknown@formal@none@1@S@A successful vote would put pressure on the British government to lift the restriction.@@@@1@14@@oe@2-2-2013
21225007@unknown@formal@none@1@S@"We have not made that decision" to seek a Jaguar special shareholders' meeting, said Martyn Watkins, a Ford spokesman in London.@@@@1@21@@oe@2-2-2013
21225008@unknown@formal@none@1@S@He emphasized that the car maker only would bid for all of Jaguar under the right circumstances, and said "those circumstances aren't right or possible at the moment."@@@@1@28@@oe@2-2-2013
21225009@unknown@formal@none@1@S@Last month, Ford announced plans to acquire as much as 15% of Jaguar.@@@@1@13@@oe@2-2-2013
21225010@unknown@formal@none@1@S@Since then, Jaguar officials have confirmed that they are discussing an alliance with GM and said last week that they hoped to reach an agreement within a month.@@@@1@28@@oe@2-2-2013
21225011@unknown@formal@none@1@S@Analysts have been expecting a GM-Jaguar pact that would give the U.S. car maker an eventual 30% stake in the British company and create joint ventures that would produce an executive-model range of cars.@@@@1@34@@oe@2-2-2013
21225012@unknown@formal@none@1@S@But the specter of Ford eventually launching a full-fledged bid could unravel the GM-Jaguar talks.@@@@1@15@@oe@2-2-2013
21225013@unknown@formal@none@1@S@Jaguar seems to be losing interest in giving GM a minority stake, said one individual close to the talks, adding, "It wouldn't surprise me if {Jaguar executives} want to wait and see what the color of that {Ford bid} is" first.@@@@1@41@@oe@2-2-2013
21225014@unknown@formal@none@1@S@He predicted Ford officials will meet with Jaguar executives in the next week to outline their proposed offer.@@@@1@18@@oe@2-2-2013
21225015@unknown@formal@none@1@S@Sir John Egan, Jaguar's chairman, so far has refused to meet with Ford officials, but he is believed to be willing to consider a specific bid proposal.@@@@1@27@@oe@2-2-2013
21225016@unknown@formal@none@1@S@As for GM, its "fallback position has to be a full bid itself," said Stephen Reitman, European auto-industry analyst at London brokers UBS-Phillips & Drew.@@@@1@25@@oe@2-2-2013
21225017@unknown@formal@none@1@S@A Ford takeover of Jaguar would "have such implications for the balance of power in the 1990s that General Motors can't afford to step aside.@@@@1@25@@oe@2-2-2013
21225018@unknown@formal@none@1@S@They will have to throw their hat in the ring."@@@@1@10@@oe@2-2-2013
21225019@unknown@formal@none@1@S@A GM spokesman yesterday reiterated the company's interest in acquiring a minority stake to help Jaguar remain independent.@@@@1@18@@oe@2-2-2013
21225020@unknown@formal@none@1@S@A pitched battle could mean Jaguar would fetch #10 ($16.02) a share, or about #1.8 billion ($2.88 billion), several analysts believe.@@@@1@21@@oe@2-2-2013
21225021@unknown@formal@none@1@S@The prospect of such a takeover fight has sent Jaguar shares soaring in recent weeks.@@@@1@15@@oe@2-2-2013
21225022@unknown@formal@none@1@S@U.S. takeover-stock speculators now own an estimated 25% of Jaguar shares.@@@@1@11@@oe@2-2-2013
21225023@unknown@formal@none@1@S@In a declining London stock market yesterday, Jaguar shares were down four pence from Monday in late trading, at 694 pence ($11.11) a share.@@@@1@24@@oe@2-2-2013
21225024@unknown@formal@none@1@S@In the U.S., Jaguar's American depositary receipts rose 12.5 cents in over-the-counter trading, to $11.25.@@@@1@15@@oe@2-2-2013
21225025@unknown@formal@none@1@S@Both Ford and GM badly need a luxury brand to combat new competition from the Japanese in the European and U.S. markets.@@@@1@22@@oe@2-2-2013
21225026@unknown@formal@none@1@S@And financially strapped Jaguar has spent over a year looking for a rich uncle to provide cash and technological know-how.@@@@1@20@@oe@2-2-2013
21225027@unknown@formal@none@1@S@The company has expressed a preference for GM over Ford because GM has promised it would keep Jaguar independent.@@@@1@19@@oe@2-2-2013
21225028@unknown@formal@none@1@S@Ford's need to acquire some or all of Jaguar became more acute last week when it abandoned a four-year effort to market its German-built Merkur Scorpio sedan as a European luxury import in the U.S.@@@@1@35@@oe@2-2-2013
21225029@unknown@formal@none@1@S@Then, last Friday, Ford's talks about a possible alliance with Saab-Scania AB of Sweden collapsed.@@@@1@15@@oe@2-2-2013
21225030@unknown@formal@none@1@S@GM's interest in Jaguar reflects a desire to help diversify the U.S. company's products in the growing luxury-car segment of the market.@@@@1@22@@oe@2-2-2013
21225031@unknown@formal@none@1@S@Its Opel line has a solid image and a recent string of highly successful new models, but it lacks Jaguar's cachet.@@@@1@21@@oe@2-2-2013
21225032@unknown@formal@none@1@S@GM officials also see a lot of potential in marrying Jaguar's cars to the technological know-how of Group Lotus PLC, a British engineering and specialty car maker GM bought in 1986.@@@@1@31@@oe@2-2-2013
21226001@unknown@formal@none@1@S@Texaco Inc. reported an 11% increase in third-quarter earnings, which it attributed partly to the company's massive restructuring after it emerged from bankruptcy-law proceedings 18 months ago.@@@@1@27@@oe@2-2-2013
21226002@unknown@formal@none@1@S@Sun Co. also reported higher earnings.@@@@1@6@@oe@2-2-2013
21226003@unknown@formal@none@1@S@Meanwhile, like many other oil companies hurt by less-profitable downstream businesses, Mobil Corp., Shell Oil Co. and Chevron Corp. reported lower quarterly earnings.@@@@1@23@@oe@2-2-2013
21226004@unknown@formal@none@1@S@Texaco@@@@1@1@@oe@2-2-2013
21226005@unknown@formal@none@1@S@Texaco's exploration and production earnings improved as a result of its streamlining of those operations as it sold many of its marginal producing properties over the past 18 months.@@@@1@29@@oe@2-2-2013
21226006@unknown@formal@none@1@S@An increase in production at some major oil fields in the North Sea, which had been knocked out by an explosion in July 1988, also aided results.@@@@1@27@@oe@2-2-2013
21226007@unknown@formal@none@1@S@The sale of a portion of refining and marketing operations to Saudi Arabia helped alleviate the decline in earnings from that business.@@@@1@22@@oe@2-2-2013
21226008@unknown@formal@none@1@S@"The company has been completely revamped," said Frank Knuettel, analyst for Prudential-Bache Securities Inc.@@@@1@14@@oe@2-2-2013
21226009@unknown@formal@none@1@S@Third-quarter net income at Texaco rose to $305 million from $274 million last year.@@@@1@14@@oe@2-2-2013
21226010@unknown@formal@none@1@S@Revenue declined 3.4%, to $8.4 billion from $8.7 billion.@@@@1@9@@oe@2-2-2013
21226011@unknown@formal@none@1@S@Per-share earnings declined to $1.10 a share from $1.12 a share, largely because of 21 million additional shares issued to retire $1 billion of debt.@@@@1@25@@oe@2-2-2013
21226012@unknown@formal@none@1@S@Per-share earnings also shrank because of dividends on a new series of preferred stock.@@@@1@14@@oe@2-2-2013
21226013@unknown@formal@none@1@S@Sun Sun Co.'s net income climbed 18% to $85 million, or 80 cents a share, from $72 million, or 67 cents a share.@@@@1@23@@oe@2-2-2013
21226014@unknown@formal@none@1@S@Revenue increased 11%, to $2.73 billion from $2.46 billion.@@@@1@9@@oe@2-2-2013
21226015@unknown@formal@none@1@S@Sun said some of the growth reflects higher earnings in the oil sands operation of Suncor, a majority-owned Canadian subsidiary.@@@@1@20@@oe@2-2-2013
21226016@unknown@formal@none@1@S@Chairman Robert McClements Jr. said the synthetic crude oil production from the facility rose even as the price for that oil increased.@@@@1@22@@oe@2-2-2013
21226017@unknown@formal@none@1@S@Overseas exploration and production results also improved because of additional output from the North Sea Magnus Field, a portion of which was acquired by Sun earlier this year.@@@@1@28@@oe@2-2-2013
21226018@unknown@formal@none@1@S@Results declined, however, in Sun's refining and marketing and coal businesses.@@@@1@11@@oe@2-2-2013
21226019@unknown@formal@none@1@S@Shell Oil@@@@1@2@@oe@2-2-2013
21226020@unknown@formal@none@1@S@Profits of Shell, a subsidiary of the Royal Dutch/Shell Group, tumbled $24 million, or 6.6%, to $340 million, despite a gain of $30 million from an insurance settlement.@@@@1@28@@oe@2-2-2013
21226021@unknown@formal@none@1@S@President Frank Richardson attributed the decline to lower natural gas prices, which countered higher earnings from the crude oil sector of Shell's exploration and production operation.@@@@1@26@@oe@2-2-2013
21226022@unknown@formal@none@1@S@Shaving away some of the gain in that unit was a decline in U.S. oil production to 502,000 barrels of oil a day during the quarter from 527,000 barrels a day last year.@@@@1@33@@oe@2-2-2013
21226023@unknown@formal@none@1@S@Shell's chemical earnings fell by $67 million, to $137 million, reflecting lower margins and less demand for commodity chemicals.@@@@1@19@@oe@2-2-2013
21226024@unknown@formal@none@1@S@Mobil@@@@1@1@@oe@2-2-2013
21226025@unknown@formal@none@1@S@Net income at Mobil Corp. slipped 4.5% to $532 million, or $1.30 a share, from $557 million, or $1.36 a share.@@@@1@21@@oe@2-2-2013
21226026@unknown@formal@none@1@S@Revenue declined $518 million, to $13.63 billion.@@@@1@7@@oe@2-2-2013
21226027@unknown@formal@none@1@S@Earnings included a one-time gain of $192 million on a property transaction in Hong Kong.@@@@1@15@@oe@2-2-2013
21226028@unknown@formal@none@1@S@Exploration and production profits slumped $40 million due to a provision for restructuring costs.@@@@1@14@@oe@2-2-2013
21226029@unknown@formal@none@1@S@The restructuring will take place over a two-year period and will involve the transfer and layoff of employees in U.S. operations to reduce costs and focus efforts in other areas.@@@@1@30@@oe@2-2-2013
21226030@unknown@formal@none@1@S@Last year, third-quarter earnings included a $157 million gain from foreign tax rate changes and a loss from a $65 million write-off of reserves.@@@@1@24@@oe@2-2-2013
21226031@unknown@formal@none@1@S@Chevron@@@@1@1@@oe@2-2-2013
21226032@unknown@formal@none@1@S@Chevron's net income fell 0.7%, to $417 million, or $1.22 a share, from $420 million, or $1.23 a share.@@@@1@19@@oe@2-2-2013
21226033@unknown@formal@none@1@S@Results included a $37 million gain from the sale of rights from Chevron's investment in Amax Inc., and a loss of $30 million from the sale of California oil and gas properties.@@@@1@32@@oe@2-2-2013
21226034@unknown@formal@none@1@S@Revenue rose 11%, to $8 billion from $7.2 billion.@@@@1@9@@oe@2-2-2013
21226035@unknown@formal@none@1@S@Chevron said higher crude oil prices boosted profits from production operations, but margins in refining and marketing declined.@@@@1@18@@oe@2-2-2013
21226036@unknown@formal@none@1@S@Profits from U.S. exploration and production operations totaled $58 million, after the property sale loss, compared with a year-earlier $44 million loss that included a $16 million reorganization charge.@@@@1@29@@oe@2-2-2013
21226037@unknown@formal@none@1@S@Refining and marketing operations earned $130 million in the quarter this year, compared with earnings of $186 million a year earlier that included $18 million in charges for environmental programs.@@@@1@30@@oe@2-2-2013
21226038@unknown@formal@none@1@S@Foreign earnings fell to $180 million from $182 million that included a $48 million gain from lower Canadian and Australian taxes.@@@@1@21@@oe@2-2-2013
21226039@unknown@formal@none@1@S@Chemical profits fell to $78 million from $98 million.@@@@1@9@@oe@2-2-2013
21226040@unknown@formal@none@1@S@Jeff Rowe contributed to this article.@@@@1@6@@oe@2-2-2013
21227001@unknown@formal@none@1@S@Asarco Inc., continuing its effort to refocus its business, ended its involvement in asbestos mining in the third quarter and said it would stop mining and selling coal by year end.@@@@1@31@@oe@2-2-2013
21227002@unknown@formal@none@1@S@The mining, metal and specialty-chemical concern said combined revenue for asbestos and coal was about $40 million of the company's total revenue in 1988 of $1.98 billion.@@@@1@27@@oe@2-2-2013
21227003@unknown@formal@none@1@S@Richard de J. Osborne, chairman, president and chief executive officer, said the company's "decisions to get out of asbestos and high-sulfur coal continue the process of simplifying and focusing the company in areas with a better future."@@@@1@37@@oe@2-2-2013
21227004@unknown@formal@none@1@S@Asarco also reported third-quarter net income rose 14%, to $52.7 million, or $1.25 a share, from a restated $46.2 million, or $1.10 a share, a year earlier.@@@@1@27@@oe@2-2-2013
21227005@unknown@formal@none@1@S@Asarco said the gain reflected continued strength in prices for refined copper, lead and zinc, and higher equity earnings in Mexico Desarrollo Industrial Minero S.A., a Mexican mining company in which Asarco has a 34% stake.@@@@1@36@@oe@2-2-2013
21227006@unknown@formal@none@1@S@The 1988 results were restated for accounting-rules changes.@@@@1@8@@oe@2-2-2013
21227007@unknown@formal@none@1@S@Sales rose 4.5% to $522.3 million from $499.4 million.@@@@1@9@@oe@2-2-2013
21227008@unknown@formal@none@1@S@In August, Asarco, through its Lac d'Amiante du Quebec subsidiary, sold its remaining one-third interest in an asbestos mining limited partnership in Canada for $11.7 million.@@@@1@26@@oe@2-2-2013
21227009@unknown@formal@none@1@S@Asarco said it plans to shut down or sell its Rapatee coal mine and will end its involvement in southern Illinois strip mining.@@@@1@23@@oe@2-2-2013
21227010@unknown@formal@none@1@S@The company said that it is discussing a management-employee buy-out of the facility, but that it would stop mining and selling coal at year end when existing sales contracts expire, regardless of the outcome of those talks.@@@@1@37@@oe@2-2-2013
21227011@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Asarco fell $1.375 to close at $31.75.@@@@1@14@@oe@2-2-2013
21228001@unknown@formal@none@1@S@Companies listed below reported quarterly profit substantially different from the average of analysts' estimates.@@@@1@14@@oe@2-2-2013
21228002@unknown@formal@none@1@S@The companies are followed by at least three analysts, and had a minimum five-cent change in actual earnings per share.@@@@1@20@@oe@2-2-2013
21228003@unknown@formal@none@1@S@Estimated and actual results involving losses are omitted.@@@@1@8@@oe@2-2-2013
21228004@unknown@formal@none@1@S@The percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past 30 days.@@@@1@23@@oe@2-2-2013
21228005@unknown@formal@none@1@S@Otherwise, actual profit is compared with the 300-day estimate.@@@@1@9@@oe@2-2-2013
21229001@unknown@formal@none@1@S@David W. Lodge was elected vice president and chief financial officer, effective Nov. 1.@@@@1@14@@oe@2-2-2013
21229002@unknown@formal@none@1@S@Mr. Lodge, 48 years old, a former finance executive at Singer Sewing Machine Co. and Celanese Corp., succeeds Francis L. Brophy, 64, who plans to retire from the company next year.@@@@1@31@@oe@2-2-2013
21230001@unknown@formal@none@1@S@Carlos A. Salvagni, vice president, pharmaceutical manufacturing, will assume responsibility for manufacturing in Kalamazoo, Mich., effective Nov. 1.@@@@1@18@@oe@2-2-2013
21230002@unknown@formal@none@1@S@Mr. Salvagni, 53 years old, succeeds John C. Griffin, 57, who is retiring as corporate vice president of pharmaceutical manufacturing.@@@@1@20@@oe@2-2-2013
21230003@unknown@formal@none@1@S@Upjohn is a world-wide provider of health-care products and services, seeds and speciality chemicals.@@@@1@14@@oe@2-2-2013
21231001@unknown@formal@none@1@S@This Brooklyn, N.Y., generic-drug maker announced a 5% stock dividend payable Dec. 15, to holders of record Nov. 15.@@@@1@19@@oe@2-2-2013
21231002@unknown@formal@none@1@S@As of Sept. 30, Halsey had 5.3 million common shares outstanding.@@@@1@11@@oe@2-2-2013
21231003@unknown@formal@none@1@S@Jay Marcus, president, said the move "reflects the confidence of our board and management in Halsey's long-term prospects and our desire to provide our shareholders with an attractive return on their investment."@@@@1@32@@oe@2-2-2013
21231004@unknown@formal@none@1@S@In American Stock Exchange composite trading, Halsey closed at $5.8125 a share, up 6.25 cents.@@@@1@15@@oe@2-2-2013
21232001@unknown@formal@none@1@S@Walter M. Brady was named a senior vice president of this insurer in the Canadian head office.@@@@1@17@@oe@2-2-2013
21232002@unknown@formal@none@1@S@He had been vice president in that office.@@@@1@8@@oe@2-2-2013
21232003@unknown@formal@none@1@S@John B. Foy was named senior vice president and remains responsible for the individual policy services department.@@@@1@17@@oe@2-2-2013
21232004@unknown@formal@none@1@S@Frank J. Ollari was named senior vice president in charge of the mortgage finance department.@@@@1@15@@oe@2-2-2013
21232005@unknown@formal@none@1@S@He had been vice president of the department, which was formerly called the real estate department.@@@@1@16@@oe@2-2-2013
21233001@unknown@formal@none@1@S@Timothy C. Brown, a vice president, was named executive vice president and a director of this lighting and specialty products concern.@@@@1@21@@oe@2-2-2013
21233002@unknown@formal@none@1@S@In the director post, Mr. Brown, 38 years old, succeeds Joseph W. Hibben, who retired from the board in August.@@@@1@20@@oe@2-2-2013
21233003@unknown@formal@none@1@S@C. Barr Schuler, 49, vice president and chief financial officer, was named senior vice president of corporate development and acquisitions, a new post.@@@@1@23@@oe@2-2-2013
21233004@unknown@formal@none@1@S@Phillip J. Stuecker, 37, vice president, secretary and treasurer, was named vice president of finance and chief financial officer.@@@@1@19@@oe@2-2-2013
21233005@unknown@formal@none@1@S@He remains secretary.@@@@1@3@@oe@2-2-2013
21234001@unknown@formal@none@1@S@Ronald B. Koenig, 55 years old, was named a senior managing director of the Gruntal & Co. brokerage subsidiary of this insurance and financial-services firm.@@@@1@25@@oe@2-2-2013
21234002@unknown@formal@none@1@S@Mr. Koenig will build the corporate-finance and investment-banking business of Gruntal, which has primarily been a retail-based firm.@@@@1@18@@oe@2-2-2013
21234003@unknown@formal@none@1@S@He was chairman and co-chief executive officer of Ladenburg, Thalmann & Co. until July, when he was named co-chairman of the investment-banking firm along with Howard L. Blum Jr., who then became the sole chief executive.@@@@1@36@@oe@2-2-2013
21234004@unknown@formal@none@1@S@Yesterday, Mr. Blum, 41, said he wasn't aware of plans at Ladenburg to name a co-chairman to succeed Mr. Koenig and said the board would need to approve any appointments or title changes.@@@@1@33@@oe@2-2-2013
21234005@unknown@formal@none@1@S@Mr. Blum added he wasn't surprised Mr. Koenig resigned, but his departure was "nothing that we desired or worked for."@@@@1@20@@oe@2-2-2013
21234006@unknown@formal@none@1@S@Mr. Koenig said: "I just got a tremendous offer from Gruntal.@@@@1@11@@oe@2-2-2013
21235001@unknown@formal@none@1@S@MCI Communications Corp. said it received a $12 million contract to provide virtual network services to Woolworth Corp.'s 5,600 corporate and retail sites in the@@@@1@25@@oe@2-2-2013
21235002@unknown@formal@none@1@S@The contract also provides for advanced billing and network management services.@@@@1@11@@oe@2-2-2013
21235003@unknown@formal@none@1@S@Woolworth said it expects to expand usage of the MCI services as it adds about 6,000 business locations over the next few years.@@@@1@23@@oe@2-2-2013
21236001@unknown@formal@none@1@S@The Philippine merchandise trade deficit widened to $1.71 billion during the first eight months of 1989 from $807 million a year earlier.@@@@1@22@@oe@2-2-2013
21236002@unknown@formal@none@1@S@Imports continued to outpace Philippine exports, despite gains in shipments abroad, the government National Statistics Office said.@@@@1@17@@oe@2-2-2013
21236003@unknown@formal@none@1@S@Exports reached $5.12 billion, up from $4.52 billion a year earlier, while imports rose to $6.81 billion from $5.33 billion.@@@@1@20@@oe@2-2-2013
21236004@unknown@formal@none@1@S@The trade deficit in the first eight months is already wider than the trade gap of $1.09 billion for all of 1988.@@@@1@22@@oe@2-2-2013
21236005@unknown@formal@none@1@S@Analysts expect the trade gap for the year to surpass $2 billion as demand for capital equipment and raw materials continues to push imports higher.@@@@1@25@@oe@2-2-2013
21237001@unknown@formal@none@1@S@Birtcher Corp. said it signed a definitive agreement with C.R. Bard Inc., a Murray Hill, N.J., maker of health-care products, for the purchase of the company's Bard/EMS Electrosurgery division for about $11 million.@@@@1@33@@oe@2-2-2013
21237002@unknown@formal@none@1@S@Birtcher, a maker of electronic medical equipment, said the transaction is expected to close on or before Nov. 30.@@@@1@19@@oe@2-2-2013
21237003@unknown@formal@none@1@S@Bard/EMS had 1988 sales of about $14 million, Birtcher said.@@@@1@10@@oe@2-2-2013
21238001@unknown@formal@none@1@S@WINSTON-SALEM, N.C. --@@@@1@3@@oe@2-2-2013
21238002@unknown@formal@none@1@S@First Wachovia Corp. said John F. McNair III will retire as president and chief executive officer of this regional banking company's Wachovia Corp. and Wachovia Bank & Trust Co. subsidiaries on Dec. 31.@@@@1@33@@oe@2-2-2013
21238003@unknown@formal@none@1@S@Mr. McNair, 62 years old, will be succeeded by L.M. "Bud" Baker Jr., 47, the parent's chief credit officer and head of its administration division.@@@@1@25@@oe@2-2-2013
21238004@unknown@formal@none@1@S@Mr. Baker will relinquish his previous positions, but a successor for him hasn't been named yet.@@@@1@16@@oe@2-2-2013
21238005@unknown@formal@none@1@S@In addition, on Jan. 1, Thomas A. Bennett, 52, will become vice chairman and chief operating officer of Wachovia and Wachovia Bank & Trust, filling a vacancy left by the retired Hans W. Wanders in April.@@@@1@36@@oe@2-2-2013
21238006@unknown@formal@none@1@S@Mr. Bennett will continue as executive in charge of the North Carolina banking operation.@@@@1@14@@oe@2-2-2013
21238007@unknown@formal@none@1@S@Messrs. Baker and Bennett have been elected directors of Wachovia and Wachovia Bank & Trust filling vacant seats on both boards.@@@@1@21@@oe@2-2-2013
21239001@unknown@formal@none@1@S@Canadian retail sales rose 0.2% in August from July, Statistics Canada, a federal agency, said.@@@@1@15@@oe@2-2-2013
21239002@unknown@formal@none@1@S@The August increase followed a 0.3% decline in July.@@@@1@9@@oe@2-2-2013
21239003@unknown@formal@none@1@S@During the past four months, retail sales have remained generally weak, advancing an average 0.2% a month, the agency said.@@@@1@20@@oe@2-2-2013
21240001@unknown@formal@none@1@S@Raw-steel production by the nation's mills decreased 0.7% last week to 1,816,000 tons from 1,828,000 tons the previous week, the American Iron and Steel Institute said.@@@@1@26@@oe@2-2-2013
21240002@unknown@formal@none@1@S@Last week's output fell 1.7% from the 1,848,000 tons produced a year earlier.@@@@1@13@@oe@2-2-2013
21240003@unknown@formal@none@1@S@The industry used 81.6% of its capability last week, compared with 82.2% the previous week and 86.2% a year ago.@@@@1@20@@oe@2-2-2013
21240004@unknown@formal@none@1@S@The American Iron and Steel Institute reported: The capability utilization rate is a calculation designed to indicate at what percent of its production capability the industry is operating in a given week.@@@@1@32@@oe@2-2-2013
21241001@unknown@formal@none@1@S@With reduced exports and rising imports, South Korea's trade surpluses with the U.S. and Europe between January and September fell sharply from a year ago, the Customs Administration said.@@@@1@29@@oe@2-2-2013
21241002@unknown@formal@none@1@S@Officials said South Korea's trade surplus with the U.S. for the first nine months of the year totaled $3.49 billion, down 43% from the same period last year on a customs-clearance basis.@@@@1@32@@oe@2-2-2013
21241003@unknown@formal@none@1@S@South Korean exports to the U.S. during the period fell 1.6% from a year ago to $15.06 billion, while imports from the U.S. soared 26% to $11.56 billion.@@@@1@28@@oe@2-2-2013
21241004@unknown@formal@none@1@S@The trade surplus with Europe was pegged at $414 million, down 57% from a year ago.@@@@1@16@@oe@2-2-2013
21241005@unknown@formal@none@1@S@Officials said South Korean exports to Europe dropped 5.3% to $3.02 billion while imports from there went up 17% to $2.61 billion.@@@@1@22@@oe@2-2-2013
21242001@unknown@formal@none@1@S@Bausch & Lomb Inc. said its pharmaceuticals subsidiary agreed to supply collagen corneal shields for animal eye surgery to a unit of International Minerals & Chemical Corp.@@@@1@27@@oe@2-2-2013
21242002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21242003@unknown@formal@none@1@S@The agreement marks Bausch & Lomb's first venture selling its eye care products for use by veterinarians.@@@@1@17@@oe@2-2-2013
21242004@unknown@formal@none@1@S@The collagen corneal shield helps speed healing of the cornea after eye surgery.@@@@1@13@@oe@2-2-2013
21242005@unknown@formal@none@1@S@The product will be distributed by Pitman-Moore Inc., a subsidiary of International Minerals.@@@@1@13@@oe@2-2-2013
21243001@unknown@formal@none@1@S@France's industrial production index for July and August rose 1% from June and was up 4.6% from a year ago, according to seasonally adjusted data from the National Statistics Institute.@@@@1@30@@oe@2-2-2013
21243002@unknown@formal@none@1@S@The state agency, which usually publishes the data on monthly basis, but traditionally combines the index for the two summer-holiday months, said the advance was led by output of consumer goods, which rose 3.5% from June and was up 7.2% from a year earlier.@@@@1@44@@oe@2-2-2013
21243003@unknown@formal@none@1@S@Semifinished goods turned in a strong showing, with a monthly rise of 2% and a year-on-year advance of 3%.@@@@1@19@@oe@2-2-2013
21243004@unknown@formal@none@1@S@Food production was ahead 1.7% from June and 5.3% from a year earlier.@@@@1@13@@oe@2-2-2013
21243005@unknown@formal@none@1@S@Output in the capital-goods sector was ahead 0.9% on a monthly basis and 2.7% year on year.@@@@1@17@@oe@2-2-2013
21243006@unknown@formal@none@1@S@These gains were partly offset by output of cars and other consumer durables, which eased 3.9% from June's high level.@@@@1@20@@oe@2-2-2013
21243007@unknown@formal@none@1@S@The sector was still 8.8% above its output levels from a year earlier, however.@@@@1@14@@oe@2-2-2013
21244001@unknown@formal@none@1@S@International Minerals & Chemical Corp. said it agreed definitively to sell its international fragrance business to Bayer AG of West Germany.@@@@1@21@@oe@2-2-2013
21244002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21244003@unknown@formal@none@1@S@The maker of animal health and nutrition products said the business, Creations Aromatiques of Port Valais, Switzerland, and Woodside, N.Y., is a division of its Mallinckrodt Inc. subsidiary and had sales of about $30 million for its most recent year.@@@@1@40@@oe@2-2-2013
21244004@unknown@formal@none@1@S@International Minerals said the sale will allow Mallinckrodt to focus its resources on its core businesses of medical products, specialty chemicals and flavors.@@@@1@23@@oe@2-2-2013
21245001@unknown@formal@none@1@S@Consumers Power Co. filed with the Michigan Public Service Commission a contract to buy power from the Palisades nuclear plant under a proposed new ownership arrangement for the plant.@@@@1@29@@oe@2-2-2013
21245002@unknown@formal@none@1@S@Consumers Power and Bechtel Power Corp. last year announced a joint venture to buy the plant, currently owned completely by the utility.@@@@1@22@@oe@2-2-2013
21246001@unknown@formal@none@1@S@Two Japanese scientists said they discovered an antibody that, in laboratory test-tube experiments, kills AIDS-infected cells while preserving healthy cells.@@@@1@20@@oe@2-2-2013
21246002@unknown@formal@none@1@S@If further experiments are successful, the work would represent a major advance in research on acquired immune deficiency syndrome.@@@@1@19@@oe@2-2-2013
21246003@unknown@formal@none@1@S@The drug AZT, the only treatment currently on the market, claims only to help stop the spread of AIDS, not to cure it.@@@@1@23@@oe@2-2-2013
21246004@unknown@formal@none@1@S@But several analysts and Japanese scientists familiar with the study, which was announced at a conference in Nagoya yesterday, expressed skepticism over the significance of the results.@@@@1@27@@oe@2-2-2013
21246005@unknown@formal@none@1@S@And the researchers themselves acknowledged they still must do much more work before they can say whether the treatment would actually cure humans.@@@@1@23@@oe@2-2-2013
21246006@unknown@formal@none@1@S@Shin Yonehara, a research scientist at the Tokyo Metropolitan Institute of Medical Science, said the antibody he discovered works by recognizing an antigen called a Fas-antigen, which is characteristic of an infected cell.@@@@1@33@@oe@2-2-2013
21246007@unknown@formal@none@1@S@The antibody then kills the cell.@@@@1@6@@oe@2-2-2013
21246008@unknown@formal@none@1@S@Dr. Yonehara and his partner, Nobuyuki Kobayashi of Yamaguchi University, said their experiments showed that the antibody wiped out an average of 60% of AIDS-infected cells within three days.@@@@1@29@@oe@2-2-2013
21246009@unknown@formal@none@1@S@In some of the experiments, it killed almost all the infected cells, the researchers said.@@@@1@15@@oe@2-2-2013
21246010@unknown@formal@none@1@S@Meanwhile, fewer than 10% of the healthy cells were killed.@@@@1@10@@oe@2-2-2013
21246011@unknown@formal@none@1@S@The two said they must still do more laboratory tests, then experiment on animals.@@@@1@14@@oe@2-2-2013
21246012@unknown@formal@none@1@S@They said they hoped to conduct tests on human patients in the U.S. by late next year.@@@@1@17@@oe@2-2-2013
21246013@unknown@formal@none@1@S@Japan doesn't have enough AIDS patients to do significant experimentation in that country, they said.@@@@1@15@@oe@2-2-2013
21246014@unknown@formal@none@1@S@The announcement got wide exposure in the Japanese media, and even moved some pharmaceutical stocks yesterday.@@@@1@16@@oe@2-2-2013
21246015@unknown@formal@none@1@S@But Takashi Kitamura, director of the biology department at Japan's National Institute of Health and secretary of the government's AIDS-research center, said, "I'm not so optimistic of its future use in therapeutic methods."@@@@1@33@@oe@2-2-2013
21246016@unknown@formal@none@1@S@He said some infected cells may not have the relevant antigen and so wouldn't be killed even after exposure to the antibody.@@@@1@22@@oe@2-2-2013
21246017@unknown@formal@none@1@S@"The results seem to be very premature," said Mitsuru Miyata, editor of Nikkei Biotechnology, a leading Japanese industry newsletter.@@@@1@19@@oe@2-2-2013
21246018@unknown@formal@none@1@S@Dr. Kobayashi responded that he thought the antibody could potentially kill all infected cells.@@@@1@14@@oe@2-2-2013
21246019@unknown@formal@none@1@S@But he and Dr. Yonehara said there were still several uncertainties, particularly regarding possible side effects.@@@@1@16@@oe@2-2-2013
21246020@unknown@formal@none@1@S@"Our antibody specifically killed infected cells at a very low dose, but it can also kill other cells," said Dr. Yonehara.@@@@1@21@@oe@2-2-2013
21246021@unknown@formal@none@1@S@"We don't know the effect of our antibody on the human body."@@@@1@12@@oe@2-2-2013
21246022@unknown@formal@none@1@S@AIDS isn't considered a widespread problem in Japan -- the government reports about 1,000 known carriers of the virus -- but many companies have poured substantial resources into research in recent years, hoping to cash in on a possible cure.@@@@1@40@@oe@2-2-2013
21246023@unknown@formal@none@1@S@Dr. Kitamura said about 35 projects are currently under way in Japan, and that Japanese researchers in the past year have made available three possible cures to American researchers for clinical tests.@@@@1@32@@oe@2-2-2013
21246024@unknown@formal@none@1@S@He said that when scientists from the two countries meet again in January in New Orleans, the Japanese will present at least three more drugs for human testing.@@@@1@28@@oe@2-2-2013
21246025@unknown@formal@none@1@S@AZT is the world's only prescription medicine approved for treating the disease.@@@@1@12@@oe@2-2-2013
21246026@unknown@formal@none@1@S@Wellcome PLC, a major British pharmaceutical maker, sells the drug under the name Retrovir.@@@@1@14@@oe@2-2-2013
21246027@unknown@formal@none@1@S@A Wellcome spokesman declined to comment on the discovery of the antibody in Japan.@@@@1@14@@oe@2-2-2013
21246028@unknown@formal@none@1@S@But Andrew Porter, a drug-industry analyst at Nikko Securities Co. in London, said if the product were to be successfully developed it would represent "a potential threat to the long-term viability of Retrovir.@@@@1@33@@oe@2-2-2013
21247001@unknown@formal@none@1@S@The following issues were recently filed with the Securities and Exchange Commission:@@@@1@12@@oe@2-2-2013
21247002@unknown@formal@none@1@S@American Exploration Co., offering of five million common shares, via Smith Barney, Harris Upham & Co. and Shearson Lehman Hutton Inc.@@@@1@21@@oe@2-2-2013
21247003@unknown@formal@none@1@S@Chemical Waste Management Inc., proposed global offering of 8,500,000 shares of common stock, of which seven million of the shares will be offered in the U.S. and 1,500,000 shares will be offered overseas, via Merrill Lynch Capital Markets (domestic) and Kidder, Peabody & Co. (international).@@@@1@45@@oe@2-2-2013
21247004@unknown@formal@none@1@S@Interlake Corp., proposed offering of $200 million of senior subordinated debentures, via Goldman, Sachs & Co.@@@@1@16@@oe@2-2-2013
21247005@unknown@formal@none@1@S@InterMedia Capital Corp., Robin Cable Systems L.P. and Brenmor Cable Partners, offering of senior subordinated discount reset debentures, via Drexel Burnham Lambert Inc.@@@@1@23@@oe@2-2-2013
21247006@unknown@formal@none@1@S@John Nuveen & Co., initial offerings of the Nuveen California Performance Plus Municipal Fund Inc. and the Nuveen New York Performance Plus Municipal Fund Inc., via Alex. Brown & Sons Inc.@@@@1@31@@oe@2-2-2013
21247007@unknown@formal@none@1@S@KnowledgeWare Inc., initial offering of three million shares of its common stock, of which 1,657,736 shares will be sold by the company and 1,342,264 will be sold by holders, via Montgomery Securities and Donaldson, Lufkin & Jenrette Securities Corp.@@@@1@39@@oe@2-2-2013
21247008@unknown@formal@none@1@S@MGM Grand Inc., proposed offering of six million shares of common stock, via Merrill Lynch.@@@@1@15@@oe@2-2-2013
21247009@unknown@formal@none@1@S@Microlog Corp., formerly called Old Dominion Systems Inc., offering of 1.2 million common shares, of which one million will be sold by the company, and the balance by holders, via Hambrecht & Quist and Johnston, Lemon & Co.@@@@1@38@@oe@2-2-2013
21247010@unknown@formal@none@1@S@Scott Paper Co., shelf offering of up to $360 million of debt securities, via Goldman Sachs, Salomon Brothers Inc. and Smith Barney, Harris Upham.@@@@1@24@@oe@2-2-2013
21247011@unknown@formal@none@1@S@Sullivan Graphics Inc., offering of $110 million of senior subordinated notes, via Merrill Lynch.@@@@1@14@@oe@2-2-2013
21247012@unknown@formal@none@1@S@Sun Sportswear Inc., initial offering of 1.7 million common shares, of which one million shares will be sold by the company, and the balance by a holder, via Salomon Brothers Inc. and Piper, Jaffray & Hopwood Inc.@@@@1@37@@oe@2-2-2013
21247013@unknown@formal@none@1@S@Yes Clothing Co., proposed initial offering of 776,470 common shares, of which 600,000 shares will be offered by the company and 176,470 by holders, via Seidler Amdec Securities Inc.@@@@1@29@@oe@2-2-2013
21248001@unknown@formal@none@1@S@A #320 million ($508 million) British Airways PLC rights issue flopped badly -- the victim of recent market turbulence and the collapse of the buy-out bid for United Airlines' parent, UAL Corp.@@@@1@32@@oe@2-2-2013
21248002@unknown@formal@none@1@S@The United Kingdom carrier had planned the issue to help finance its $750 million purchase of a 15% stake in UAL.@@@@1@21@@oe@2-2-2013
21248003@unknown@formal@none@1@S@But British Airways withdrew from the UAL labor-management buy-out plan last Friday, after the group failed to get bank financing for its $6.79 billion buy-out.@@@@1@25@@oe@2-2-2013
21248004@unknown@formal@none@1@S@British Airways said its shareholders accepted only 6.3% of the convertible capital bonds, but that the rest of the issue will be taken up by underwriters.@@@@1@26@@oe@2-2-2013
21248005@unknown@formal@none@1@S@Analysts said that 6.3% level marked the poorest showing for any major British rights issue since the 1987 global stock market crash.@@@@1@22@@oe@2-2-2013
21248006@unknown@formal@none@1@S@"It is close to being a record undersubscription," said Bob Bucknell, an analyst with London broker Smith New Court Securities.@@@@1@20@@oe@2-2-2013
21248007@unknown@formal@none@1@S@"Fund managers don't like to have rights issues that don't have an obvious reason.@@@@1@14@@oe@2-2-2013
21248008@unknown@formal@none@1@S@The obvious reason was (for British Air) to buy a stake in United Airlines."@@@@1@14@@oe@2-2-2013
21248009@unknown@formal@none@1@S@In a statement, British Air Chairman Lord King said the company was "obviously disappointed that the issue was not taken up, but it would have been unreasonable to expect a better result given the volatility of the stock market since the launch of the issue."@@@@1@45@@oe@2-2-2013
21248010@unknown@formal@none@1@S@But except for the embarrassment, British Air will emerge relatively unscathed from the flopped issue.@@@@1@15@@oe@2-2-2013
21248011@unknown@formal@none@1@S@Underwriters led by Lazard Brothers & Co. will pick up the rest of the airline's offer of four convertible capital bonds for every nine common shares.@@@@1@26@@oe@2-2-2013
21248012@unknown@formal@none@1@S@Lazard and other primary underwriters have reduced or eliminated their exposure by sub-underwriting the issue among U.K. institutional investors.@@@@1@19@@oe@2-2-2013
21248013@unknown@formal@none@1@S@"The (paper) loss here is very small" for these sub-underwriters, observed John Nelson, a Lazard managing director.@@@@1@17@@oe@2-2-2013
21248014@unknown@formal@none@1@S@In any case, he added, "most institutions probably won't sell" the bonds.@@@@1@12@@oe@2-2-2013
21248015@unknown@formal@none@1@S@And instead of buying the UAL stake, the U.K. carrier will be able to reduce its high debt level and build an acquisition war chest.@@@@1@25@@oe@2-2-2013
21248016@unknown@formal@none@1@S@"From a cash flow point of view, British Airways is better off not being in United Airlines in the short term," said Andy Chambers, an analyst at Nomura Research Institute in London.@@@@1@32@@oe@2-2-2013
21248017@unknown@formal@none@1@S@Added another U.K. analyst: "It gives them some cash in the back pocket for when they want to do something."@@@@1@20@@oe@2-2-2013
21248018@unknown@formal@none@1@S@For instance, British Air is continuing to negotiate with KLM Royal Dutch Airlines about each acquiring a 20% stake in Sabena World Airlines, the air transport subsidiary of the Belgian national airline.@@@@1@32@@oe@2-2-2013
21248019@unknown@formal@none@1@S@A definitive agreement had been expected by the end of July.@@@@1@11@@oe@2-2-2013
21248020@unknown@formal@none@1@S@The failed rights issue also should have a modest impact on British Air shares.@@@@1@14@@oe@2-2-2013
21248021@unknown@formal@none@1@S@The airline's share price already is far below the 210 pence ($3.33) level seen after the company announced the rights issue in late September.@@@@1@24@@oe@2-2-2013
21248022@unknown@formal@none@1@S@In late trading on London's Stock Exchange yesterday, the shares were off three pence at 194 pence.@@@@1@17@@oe@2-2-2013
21248023@unknown@formal@none@1@S@And because British Air is issuing convertible bonds rather than ordinary shares, the share price won't be directly hurt by any surplus left with underwriters after they try to sell the issue in the open market.@@@@1@36@@oe@2-2-2013
21248024@unknown@formal@none@1@S@But British Air's withdrawal from the UAL buy-out could have further repercussions.@@@@1@12@@oe@2-2-2013
21248025@unknown@formal@none@1@S@Some analysts speculated yesterday that the move has set off a board room split, which may lead to the resignation of Sir Colin Marshall, the carrier's chief executive officer.@@@@1@29@@oe@2-2-2013
21248026@unknown@formal@none@1@S@"The stories are rubbish," a British Air spokesman said.@@@@1@9@@oe@2-2-2013
21248027@unknown@formal@none@1@S@"There is no difference of opinion between (Chairman) Lord King and Sir Colin on any aspect of company policy.@@@@1@19@@oe@2-2-2013
21249001@unknown@formal@none@1@S@MINORITY RECRUITING has yet to meet hopes raised by Bush administration.@@@@1@11@@oe@2-2-2013
21249002@unknown@formal@none@1@S@Six months ago, as some personnel specialists saw it, a perception that President Bush really cared about fair employment -- after what they said was eight years of Reagan-era neglect -- was prodding top management to raise hiring goals for females, blacks and other minorities.@@@@1@45@@oe@2-2-2013
21249003@unknown@formal@none@1@S@The perception lingers, says an official at a major industrial company.@@@@1@11@@oe@2-2-2013
21249004@unknown@formal@none@1@S@But so far, he declares, there's little evidence the "new urgency" is trickling down to the managers who actually do hiring.@@@@1@21@@oe@2-2-2013
21249005@unknown@formal@none@1@S@"Is there really a commitment or an illusion of activity?" he asks.@@@@1@12@@oe@2-2-2013
21249006@unknown@formal@none@1@S@The recruiting "hasn't materialized," asserts Jeffrey Christian, who runs a search agency.@@@@1@12@@oe@2-2-2013
21249007@unknown@formal@none@1@S@Samuel Hall, Howard University's placement director, also doesn't see it.@@@@1@10@@oe@2-2-2013
21249008@unknown@formal@none@1@S@And he questions the White House dedication.@@@@1@7@@oe@2-2-2013
21249009@unknown@formal@none@1@S@"I don't think the Bush administration has done anything," he says.@@@@1@11@@oe@2-2-2013
21249010@unknown@formal@none@1@S@Recruiter Donald Clark does note an increase in searches for minority candidates.@@@@1@12@@oe@2-2-2013
21249011@unknown@formal@none@1@S@But some of the activity, he says, may reflect a rush to get "numbers in order" for end-of-year reports.@@@@1@19@@oe@2-2-2013
21249012@unknown@formal@none@1@S@PAY FOR PERFORMANCE hangs mostly on boss's subjective view.@@@@1@9@@oe@2-2-2013
21249013@unknown@formal@none@1@S@Du Pont Co. in a couple of units has installed objective tests based on earnings or return on equity.@@@@1@19@@oe@2-2-2013
21249014@unknown@formal@none@1@S@Many companies have set up machinery to assure workers a fair shake.@@@@1@12@@oe@2-2-2013
21249015@unknown@formal@none@1@S@At most firms, though, it's the immediate supervisor who decides the merit increases subordinates will be paid.@@@@1@17@@oe@2-2-2013
21249016@unknown@formal@none@1@S@Managers have "some very broad discretion," says an official at Walt Disney Co.@@@@1@13@@oe@2-2-2013
21249017@unknown@formal@none@1@S@Unocal Corp.'s top management sets guidelines, but line supervisors slice up the merit pie.@@@@1@14@@oe@2-2-2013
21249018@unknown@formal@none@1@S@Lotus Development Corp. feeds its evaluations into a computer, but only for storage; the decisions are made by supervisors.@@@@1@19@@oe@2-2-2013
21249019@unknown@formal@none@1@S@Hershey Foods Corp. strives for fairness by basing increases on quarterly reviews, annual appraisals and meetings with workers.@@@@1@18@@oe@2-2-2013
21249020@unknown@formal@none@1@S@At Chemfix Technology Inc., each supervisor's recommendation must be approved by the next boss up the line, and then sanctioned by a salary review committee.@@@@1@25@@oe@2-2-2013
21249021@unknown@formal@none@1@S@JAPANESE COMPANIES fare best in U.S. when they give Americans more say.@@@@1@12@@oe@2-2-2013
21249022@unknown@formal@none@1@S@University of Michigan researchers find the companies earn more and win a bigger market share when their American employees get a voice in planning, product development and design, including decision-making back in Japan.@@@@1@33@@oe@2-2-2013
21249023@unknown@formal@none@1@S@"You can't hire competent Americans and say, `Let them run only their own show,'" says Vladimir Pucik, who headed the study run with Egon Zehnder International, a search firm.@@@@1@29@@oe@2-2-2013
21249024@unknown@formal@none@1@S@The researchers say many Japanese companies err in the U.S. by adopting the American practice of hiring managers on the "open market."@@@@1@22@@oe@2-2-2013
21249025@unknown@formal@none@1@S@In Japan, by contrast, companies tend to develop their own talent and promote from within.@@@@1@15@@oe@2-2-2013
21249026@unknown@formal@none@1@S@The Japanese also are accused of keeping their cards too close to their vests.@@@@1@14@@oe@2-2-2013
21249027@unknown@formal@none@1@S@"Some Japanese executives are not yet . . . comfortable about sharing strategic information with their American colleagues," the researchers say.@@@@1@21@@oe@2-2-2013
21249028@unknown@formal@none@1@S@Americans stay longer with Japanese firms than American companies.@@@@1@9@@oe@2-2-2013
21249029@unknown@formal@none@1@S@But they think promotions are limited.@@@@1@6@@oe@2-2-2013
21249030@unknown@formal@none@1@S@THE HOUSE votes down a proposal to put pension plans under the control of joint labor-management boards.@@@@1@17@@oe@2-2-2013
21249031@unknown@formal@none@1@S@Some consultants had insisted it wouldn't work.@@@@1@7@@oe@2-2-2013
21249032@unknown@formal@none@1@S@LONG-TERM care insurance gains favor.@@@@1@5@@oe@2-2-2013
21249033@unknown@formal@none@1@S@More than half the people surveyed for the Employee Benefit Research Institute say they would be willing and able to pick up most of the cost of the coverage.@@@@1@29@@oe@2-2-2013
21249034@unknown@formal@none@1@S@FRINGE-BENEFIT spending by small and medium-sized employers has dropped to 25% of payroll from 29% three years ago, says the National Institute of Business Management, an advisory service.@@@@1@28@@oe@2-2-2013
21249035@unknown@formal@none@1@S@OUSTED EXECUTIVES over 50 years old take slightly less time than their younger colleagues to find a job -- 3.23 months vs. 3.26 for the juniors -- outplacement firm Challenger, Gray & Christmas finds.@@@@1@34@@oe@2-2-2013
21249036@unknown@formal@none@1@S@It's the first time in the survey's 15 years that the over-50 group came out ahead.@@@@1@16@@oe@2-2-2013
21249037@unknown@formal@none@1@S@FEAR OF AIDS hinders hiring at few hospitals.@@@@1@8@@oe@2-2-2013
21249038@unknown@formal@none@1@S@Dedication runs high.@@@@1@3@@oe@2-2-2013
21249039@unknown@formal@none@1@S@Wafaa El-Sadr, who heads the AIDS program at New York City's Harlem Hospital Center, can't find help.@@@@1@17@@oe@2-2-2013
21249040@unknown@formal@none@1@S@"I've been recruiting every single day since it's been identified that many AIDS patients come from the inner city," she says.@@@@1@21@@oe@2-2-2013
21249041@unknown@formal@none@1@S@She was the only staff physician available to treat AIDS patients last summer and now she has the help of only two doctors part time.@@@@1@25@@oe@2-2-2013
21249042@unknown@formal@none@1@S@Part of the problem, though, may reflect a general unwillingness to work with the urban poor.@@@@1@16@@oe@2-2-2013
21249043@unknown@formal@none@1@S@Parkland Memorial Hospital in Dallas says it hasn't had any problem recruiting, even after a nurse contracted the virus while injecting an AIDS patient.@@@@1@24@@oe@2-2-2013
21249044@unknown@formal@none@1@S@"I can tell you that nobody quit over it.@@@@1@9@@oe@2-2-2013
21249045@unknown@formal@none@1@S@No one panicked," a spokeswoman says.@@@@1@6@@oe@2-2-2013
21249046@unknown@formal@none@1@S@St. Paul Medical Center, also in Dallas, sees only a "minimal erosion" of support staff due to AIDS.@@@@1@18@@oe@2-2-2013
21249047@unknown@formal@none@1@S@Yale-New Haven Hospital sees no problem, says John Fenn, the chief of staff.@@@@1@13@@oe@2-2-2013
21249048@unknown@formal@none@1@S@"There are enough enlightened and spirited individuals who know their responsibilities," he says.@@@@1@13@@oe@2-2-2013
21249049@unknown@formal@none@1@S@THE CHECKOFF: At least somebody gains on layoffs.@@@@1@8@@oe@2-2-2013
21249050@unknown@formal@none@1@S@The Association of Outplacement Consulting Firms says the industry's volume has soared tenfold since 1980, to $350 million a year. . . .@@@@1@23@@oe@2-2-2013
21249051@unknown@formal@none@1@S@And somebody loses on the expected repeal of Section 89, the benefits test fought by most employers.@@@@1@17@@oe@2-2-2013
21249052@unknown@formal@none@1@S@Triad Solutions says software producers had each invested hundreds of thousands of dollars in programs that now have no use.@@@@1@20@@oe@2-2-2013
21250001@unknown@formal@none@1@S@Big gains for the ultra-right Republicans party in Baden-Wuerttemburg state municipal elections Sunday showed eroding support for Chancellor Helmut Kohl in a traditional bastion for his Christian Democratic Union.@@@@1@29@@oe@2-2-2013
21250002@unknown@formal@none@1@S@With ballots from most of the state's major cities in by yesterday morning, the Republicans came away with 10% of the vote in several of the key districts.@@@@1@28@@oe@2-2-2013
21250003@unknown@formal@none@1@S@With many rural districts yet to report ballots, election officials estimate support for Christian Democrats fell an average five percentage points statewide.@@@@1@22@@oe@2-2-2013
21250004@unknown@formal@none@1@S@The left-of-center Social Democrats and the environmental Greens party posted mixed results.@@@@1@12@@oe@2-2-2013
21250005@unknown@formal@none@1@S@Headed by a former Waffen SS sergeant and working from a nationalistic platform of anti-foreigner rhetoric, the fledgling Republicans party has scored surprising gains in earlier elections in the states of West Berlin, Hesse and North-Rhine Westphalia.@@@@1@37@@oe@2-2-2013
21250006@unknown@formal@none@1@S@With West German unemployment remaining high at two million jobless and the lack of affordable housing becoming a primary issue for next year's campaign, the Republicans are seen drawing support for their "Germans First" stand on social-welfare issues.@@@@1@38@@oe@2-2-2013
21250007@unknown@formal@none@1@S@Election analysts acknowledge that a "Red-Green" coalition of Social Democrats and Greens could edge out Chancellor Kohl's coalition in the December 1990 national election if support for the Republicans continues to spread.@@@@1@32@@oe@2-2-2013
21250008@unknown@formal@none@1@S@International investigators urged Britain to allow prosecution of suspected Nazi war criminals who took refuge there after 1945.@@@@1@18@@oe@2-2-2013
21250009@unknown@formal@none@1@S@Under current law, such suspects are immune from prosecution for acts committed while not British citizens.@@@@1@16@@oe@2-2-2013
21250010@unknown@formal@none@1@S@"If we're not careful we could become known as a haven for war criminals," said Jeff Rooker, a member of Parliament and one of several British politicians attending a London conference with government investigators from the U.S., Canada and Australia.@@@@1@40@@oe@2-2-2013
21250011@unknown@formal@none@1@S@A parliamentary inquiry found in July that more than 70 people living in Britain could have been part of death squads that roamed Nazi-occupied Eastern Europe.@@@@1@26@@oe@2-2-2013
21250012@unknown@formal@none@1@S@Parliament is expected to discuss next month whether to change the law.@@@@1@12@@oe@2-2-2013
21250013@unknown@formal@none@1@S@British investigations were prompted by a list of 17 alleged war criminals living in Britain sent to Prime Minister Margaret Thatcher in October 1986 by the Simon Wiesenthal Center in Los Angeles.@@@@1@32@@oe@2-2-2013
21250014@unknown@formal@none@1@S@In a sign of easing tension between Beijing and Hong Kong, China said it will again take back illegal immigrants caught crossing into the British colony.@@@@1@26@@oe@2-2-2013
21250015@unknown@formal@none@1@S@China had refused to repatriate citizens who sneaked into Hong Kong illegally since early this month, when the colony allowed a dissident Chinese swimmer to flee to the U.S.@@@@1@29@@oe@2-2-2013
21250016@unknown@formal@none@1@S@About 1,100 Chinese were awaiting repatriation yesterday.@@@@1@7@@oe@2-2-2013
21250017@unknown@formal@none@1@S@Italy's Foreign Ministry said it is investigating exports to the Soviet Union by an Ing. C. Olivetti & Co. subsidiary called OCN-PPL that makes numerically controlled machine tools.@@@@1@28@@oe@2-2-2013
21250018@unknown@formal@none@1@S@Although Italy's investigation of whether Olivetti had violated Western export-control rules had previously been made known, this marked the first time the unit and product were named.@@@@1@27@@oe@2-2-2013
21250019@unknown@formal@none@1@S@The U.S. is worried about the convertibility of Olivetti's machine tools to military use.@@@@1@14@@oe@2-2-2013
21250020@unknown@formal@none@1@S@However, an Olivetti spokeswoman said OCN-PPL, of which Olivetti sold the majority interest last year, "doesn't make equipment that has the type of precision necessary for sophisticated productions."@@@@1@28@@oe@2-2-2013
21250021@unknown@formal@none@1@S@Conservationists say that drift-net fishing threatens to wipe out much of the world's tuna stocks in a few years.@@@@1@19@@oe@2-2-2013
21250022@unknown@formal@none@1@S@But the Japanese Fisheries Association criticized moves to ban the practice in international waters.@@@@1@14@@oe@2-2-2013
21250023@unknown@formal@none@1@S@"It is really unfortunate for human beings to be swayed by emotional discussions," the association said.@@@@1@16@@oe@2-2-2013
21250024@unknown@formal@none@1@S@In driftnet, or "wall of death," fishing, fleets lay nets up to three miles long that trap almost everything in their path.@@@@1@22@@oe@2-2-2013
21250025@unknown@formal@none@1@S@Earlier this year, Japan said it would cut the number of its drift-net vessels in the South Pacific by two-thirds, or down to 20.@@@@1@24@@oe@2-2-2013
21250026@unknown@formal@none@1@S@Workers at Peugeot S.A.'s car plant at Sochaux, in eastern France, voted to end a six-week-old strike that has cost the Peugeot group production of 60,000 automobiles, a company spokesman said.@@@@1@31@@oe@2-2-2013
21250027@unknown@formal@none@1@S@The strikers voted to accept a series of management proposals that will give them a higher basic wage, better profit-sharing benefits and bigger annual bonuses.@@@@1@25@@oe@2-2-2013
21250028@unknown@formal@none@1@S@The spokesman said the vote at Sochaux is expected to be followed by a similar move at the company's assembly plant at Mulhouse, where the number of strikers has been whittled down to 80.@@@@1@34@@oe@2-2-2013
21250029@unknown@formal@none@1@S@About 8,000 National Union of Mineworkers members resumed their strike against De Beers Consolidated Mines Ltd. after further negotiations to settle a wage dispute broke down.@@@@1@26@@oe@2-2-2013
21250030@unknown@formal@none@1@S@Striking workers, who began striking five diamond mines on Oct. 13, had returned to work last week when the union and De Beers arranged to reopen negotiations.@@@@1@27@@oe@2-2-2013
21250031@unknown@formal@none@1@S@A De Beers spokesman said yesterday the company had offered to increase the minimum wage by 18%, while the union was demanding 26.6%.@@@@1@23@@oe@2-2-2013
21250032@unknown@formal@none@1@S@Before the two parties resumed talks last week, De Beers offered 17% and the union wanted 37.6%.@@@@1@17@@oe@2-2-2013
21250033@unknown@formal@none@1@S@China's People's Daily took note of the growing problem of computer fraud.@@@@1@12@@oe@2-2-2013
21250034@unknown@formal@none@1@S@Since the first fraud was discovered in July 1986 at an office of the People's Bank of China in Shenzhen, 15 major cases have been found, the paper said; the biggest was the theft of $235,000 from a bank in Chengdu in March 1988.@@@@1@44@@oe@2-2-2013
21250035@unknown@formal@none@1@S@The number of computers has mushroomed in recent years, with 10,000 in use, as well as 30,000 miniature models.@@@@1@19@@oe@2-2-2013
21250036@unknown@formal@none@1@S@But security systems, effective management controls and regulations to govern their use have not kept pace, the People's Daily said.@@@@1@20@@oe@2-2-2013
21250037@unknown@formal@none@1@S@Besides money, criminals have also used computers to steal secrets and intelligence, the newspaper said, but it gave no more details.@@@@1@21@@oe@2-2-2013
21250038@unknown@formal@none@1@S@Japanese tourists will be told to take care when photographing earthquake damage in San Francisco, the Japan Association of Travel Agents said.@@@@1@22@@oe@2-2-2013
21250039@unknown@formal@none@1@S@The association issued an advisory to its 1,685 member agencies following a report from the Foreign Ministry that picture-taking by Japanese tourists in earthquake-stricken areas was causing ill feeling among local residents. . . .@@@@1@35@@oe@2-2-2013
21250040@unknown@formal@none@1@S@Tass said Lenin's tomb in Red Square will be closed from Nov. 10 to Jan. 15 for essential maintenance.@@@@1@19@@oe@2-2-2013
21250041@unknown@formal@none@1@S@The red granite mausoleum draws thousands of visitors daily.@@@@1@9@@oe@2-2-2013
21251001@unknown@formal@none@1@S@Fatalities on rural interstates rose 33% between 1986 and last year, the National Highway Traffic Safety Administration said in a report on the impact of the 65 miles-per-hour speed limit on those roads.@@@@1@33@@oe@2-2-2013
21251002@unknown@formal@none@1@S@The report to Congress said that fatalities rose 18% in 1987 and 13% in 1988 on rural interstates.@@@@1@18@@oe@2-2-2013
21251003@unknown@formal@none@1@S@The 1987 highway bill permitted states to raise the speed limit to 65 mph from 55 mph on interstate roads, which are defined as highways that pass through areas with fewer than 50,000 people.@@@@1@34@@oe@2-2-2013
21251004@unknown@formal@none@1@S@Since 1987, 40 states have increased the speed limit on rural interstates.@@@@1@12@@oe@2-2-2013
21251005@unknown@formal@none@1@S@"About one-third of the fatality increase is attributed to greater travel, and about two-thirds is attributed to other factors {primarily to greater speed}," according to NHTSA.@@@@1@26@@oe@2-2-2013
21251006@unknown@formal@none@1@S@The report showed that deaths on urban interstate highways rose 7% between 1986 and last year, while fatalities on non-interstate roads were about the same in 1988 as in 1986.@@@@1@30@@oe@2-2-2013
21251007@unknown@formal@none@1@S@In states that raised the speed limit on rural interstates, the fatality rate rose about 18% to 1.7 deaths per 100 million miles traveled between 1986 and 1988.@@@@1@28@@oe@2-2-2013
21251008@unknown@formal@none@1@S@In contrast, the fatality rate in the states that retained the 55 mph limit was 0.9 last year, the same as in 1986.@@@@1@23@@oe@2-2-2013
21252001@unknown@formal@none@1@S@Well-Seasoned Reasoning@@@@1@2@@oe@2-2-2013
21252002@unknown@formal@none@1@S@("Food manufacturer changes spelling of `catsup' to `ketchup,' saying that's the spelling people now prefer."@@@@1@15@@oe@2-2-2013
21252003@unknown@formal@none@1@S@-- WSJ Business Bulletin)@@@@1@4@@oe@2-2-2013
21252004@unknown@formal@none@1@S@Public preference is important, So product names should match up, And firms that find they're lagging behind Should now take steps to ketchup!@@@@1@23@@oe@2-2-2013
21252005@unknown@formal@none@1@S@-- George O. Ludcke.@@@@1@4@@oe@2-2-2013
21252006@unknown@formal@none@1@S@Judge Not@@@@1@2@@oe@2-2-2013
21252007@unknown@formal@none@1@S@How easy it is To attack others' views Without ever setting A foot in their shoes!@@@@1@16@@oe@2-2-2013
21252008@unknown@formal@none@1@S@-- G. Sterling Leiby.@@@@1@4@@oe@2-2-2013
21252009@unknown@formal@none@1@S@Daffynition@@@@1@1@@oe@2-2-2013
21252010@unknown@formal@none@1@S@Money-making course: wad-working.@@@@1@3@@oe@2-2-2013
21252011@unknown@formal@none@1@S@-- Thomas Henry.@@@@1@3@@oe@2-2-2013
21253001@unknown@formal@none@1@S@In an Oct. 10 editorial-page article, "It's the World Bank's Turn to Adjust," Paul Craig Roberts lays most of the blame for what ails developing countries at the doorstep of the World Bank.@@@@1@33@@oe@2-2-2013
21253002@unknown@formal@none@1@S@The article is, unfortunately, replete with outrageous distortions.@@@@1@8@@oe@2-2-2013
21253003@unknown@formal@none@1@S@One of Mr. Roberts's observations is that the Bank's own loan portfolio is in deep trouble because of its lending to developing countries.@@@@1@23@@oe@2-2-2013
21253004@unknown@formal@none@1@S@This is just not so.@@@@1@5@@oe@2-2-2013
21253005@unknown@formal@none@1@S@The reality is that Bank finances are rock solid.@@@@1@9@@oe@2-2-2013
21253006@unknown@formal@none@1@S@As of June 30, 1989 -- the day our past fiscal year came to a close -- only 4.1% of the Bank's portfolio was affected by arrears of over six months.@@@@1@31@@oe@2-2-2013
21253007@unknown@formal@none@1@S@This is an enviably low level.@@@@1@6@@oe@2-2-2013
21253008@unknown@formal@none@1@S@Moreover, the Bank follows a prudent provisioning policy and has set aside $800 million against possible loan losses.@@@@1@18@@oe@2-2-2013
21253009@unknown@formal@none@1@S@For the same fiscal year, by the way, the Bank's net income was a robust $1.1 billion after provisions.@@@@1@19@@oe@2-2-2013
21253010@unknown@formal@none@1@S@Because of the business-like manner in which the Bank goes about development, financial markets have confidence in it.@@@@1@18@@oe@2-2-2013
21253011@unknown@formal@none@1@S@This helps explain the triple-A rating enjoyed by our bonds and our ability to borrow $9.3 billion in fiscal 1989 on the most advantageous terms.@@@@1@25@@oe@2-2-2013
21253012@unknown@formal@none@1@S@Another of Mr. Roberts's criticisms is that Bank lending has done more harm than good "by implanting the wrong incentives and deflecting energy away from economic development."@@@@1@27@@oe@2-2-2013
21253013@unknown@formal@none@1@S@Here, too, Mr. Roberts is way off the mark.@@@@1@9@@oe@2-2-2013
21253014@unknown@formal@none@1@S@The reality is that Bank loans have been linked to policy improvements for 40 years.@@@@1@15@@oe@2-2-2013
21253015@unknown@formal@none@1@S@Our traditional project loans have, for instance, supported sensible energy pricing in the power sector, sound interest-rate policies in the credit area and the operation of public utilities as efficient, autonomous agencies.@@@@1@32@@oe@2-2-2013
21253016@unknown@formal@none@1@S@By and large, these efforts have borne fruit.@@@@1@8@@oe@2-2-2013
21253017@unknown@formal@none@1@S@In my home region, Latin America, much of the existing infrastructure base -- an important building block for development -- has been financed by the World Bank.@@@@1@27@@oe@2-2-2013
21253018@unknown@formal@none@1@S@Mr. Roberts also takes a swipe at the Bank's adjustment lending.@@@@1@11@@oe@2-2-2013
21253019@unknown@formal@none@1@S@What are the facts on this type of lending?@@@@1@9@@oe@2-2-2013
21253020@unknown@formal@none@1@S@The Bank has been making adjustment loans for 10 years.@@@@1@10@@oe@2-2-2013
21253021@unknown@formal@none@1@S@As their name implies, these operations are linked to far-reaching policy reforms that aim at helping borrowing countries get back on the growth path and at enhancing their credit-worthiness.@@@@1@29@@oe@2-2-2013
21253022@unknown@formal@none@1@S@Typically, these measures include reforms to downsize the role of government and parastatals in the economy, to open up inward-looking economies to international competition and to promote the development of a vigorous private sector.@@@@1@34@@oe@2-2-2013
21253023@unknown@formal@none@1@S@Support for the private sector has been a longstanding concern of the Bank's.@@@@1@13@@oe@2-2-2013
21253024@unknown@formal@none@1@S@Over the years, it has helped encourage investments by entrepreneurs in the Third World through its extensive credit operations and through loans and investments by the International Finance Corp.@@@@1@29@@oe@2-2-2013
21253025@unknown@formal@none@1@S@Most recently, the Bank Group has been expanded to include the Multilateral Investment Guarantee Agency to stimulate direct foreign investment in developing countries by offering guarantees against noncommercial risk and advice to member countries on how to improve their business climate.@@@@1@41@@oe@2-2-2013
21253026@unknown@formal@none@1@S@These are not the actions of a development agency wed to central planning and to the concentration of investment decisions in the hands of government, as Mr. Roberts alleges.@@@@1@29@@oe@2-2-2013
21253027@unknown@formal@none@1@S@Rather, they reflect the Bank's time-tested, pragmatic approach, which aims at ensuring that developing countries put their scarce resources to the best possible use.@@@@1@24@@oe@2-2-2013
21253028@unknown@formal@none@1@S@Francisco Aguirre-Sacasa Director, External Affairs The World Bank@@@@1@8@@oe@2-2-2013
21254001@unknown@formal@none@1@S@The government said it would streamline its enormous and often-criticized food marketing and distribution network, Compania Nacional de Subsistencias Populares, or Conasupo.@@@@1@22@@oe@2-2-2013
21254002@unknown@formal@none@1@S@Conasupo Director Ignacio Ovalle Fernandez said the agency will sell 589 midsized supermarkets and several food-production plants and warehouses beginning early next year.@@@@1@23@@oe@2-2-2013
21254003@unknown@formal@none@1@S@The agency will withdraw from the production of nine food products, maintaining production of the two most important ones, corn and milk.@@@@1@22@@oe@2-2-2013
21254004@unknown@formal@none@1@S@Mr. Ovalle also said Conasupo will cut back subsidies to producers of nonessential farm products and close retail outlets in wealthy neighborhoods.@@@@1@22@@oe@2-2-2013
21254005@unknown@formal@none@1@S@The agency's workers and private companies would be allowed to bid for the assets up for sale.@@@@1@17@@oe@2-2-2013
21254006@unknown@formal@none@1@S@Conasupo controls prices on agricultural goods and operates retail outlets where basic consumer items are sold at state-subsidized prices.@@@@1@19@@oe@2-2-2013
21254007@unknown@formal@none@1@S@Business leaders have long criticized the agency as a leading example of bureacratic waste.@@@@1@14@@oe@2-2-2013
21254008@unknown@formal@none@1@S@Private-sector leaders praised the Conasupo restructuring.@@@@1@6@@oe@2-2-2013
21254009@unknown@formal@none@1@S@But most economists doubt the streamlining would cut deeply into Conasupo government subsidy, which largely goes to reduce consumer prices for corn and milk.@@@@1@24@@oe@2-2-2013
21255001@unknown@formal@none@1@S@The Food and Drug Administration banned all imports of mushrooms from China in response to a rash of food-poisoning outbreaks linked to canned Chinese mushrooms.@@@@1@25@@oe@2-2-2013
21255002@unknown@formal@none@1@S@"The agency has concluded that contamination may be widespread throughout the mushroom-processing industry in China," an FDA spokesman said yesterday.@@@@1@20@@oe@2-2-2013
21255003@unknown@formal@none@1@S@The agency won't allow mushrooms that were canned or packed in brine at any Chinese plant to enter the U.S. until "satisfactory sanitation-control measures are implemented in China to prevent" bacterial contamination.@@@@1@32@@oe@2-2-2013
21255004@unknown@formal@none@1@S@On May 19, the FDA began detaining Chinese mushrooms in 68-ounce cans after more than 100 people in Mississippi, New York and Pennsylvania became ill from eating tainted mushrooms.@@@@1@29@@oe@2-2-2013
21255005@unknown@formal@none@1@S@In subsequent tests, the agency found smaller-size cans from several Chinese plants to be similarly contaminated.@@@@1@16@@oe@2-2-2013
21255006@unknown@formal@none@1@S@The outbreaks were traced to staphylococcus aureus, a type of bacteria that produces a toxin capable of surviving the high temperatures used in canning vegetables.@@@@1@25@@oe@2-2-2013
21255007@unknown@formal@none@1@S@A recall of the mushrooms blamed for the food poisoning began in early March.@@@@1@14@@oe@2-2-2013
21255008@unknown@formal@none@1@S@In 1987, China exported 65 million pounds of mushrooms, valued at $47 million, to the U.S.@@@@1@16@@oe@2-2-2013
21255009@unknown@formal@none@1@S@The shipments went mostly to food-service distributors that supply pizzerias and restaurants.@@@@1@12@@oe@2-2-2013
21255010@unknown@formal@none@1@S@A spokesman for the Chinese Embassy here said that the Beijing government has taken "many effective measures" to stop the mushroom contamination and is further investigating the underlying causes.@@@@1@29@@oe@2-2-2013
21255011@unknown@formal@none@1@S@He predicted the problem will be solved "very soon."@@@@1@9@@oe@2-2-2013
21256001@unknown@formal@none@1@S@Your Sept. 26 "Politics & Policy" article about William Bennett's Emergency Drug Plan for Washington gives the impression that the FBI has not been nor is actively involved.@@@@1@28@@oe@2-2-2013
21256002@unknown@formal@none@1@S@This is not the case.@@@@1@5@@oe@2-2-2013
21256003@unknown@formal@none@1@S@The FBI is very supportive of and an active participant in Mr. Bennett's initiative.@@@@1@14@@oe@2-2-2013
21256004@unknown@formal@none@1@S@It was agreed at the outset of the Washington Drug Initiative that the FBI's role would be to continue targeting the major drug traffickers through our National Drug Strategy.@@@@1@29@@oe@2-2-2013
21256005@unknown@formal@none@1@S@Through these investigations we do not focus on the street drug user, but rather we target and attack major drug-trafficking organizations that control a large segment of the drug market.@@@@1@30@@oe@2-2-2013
21256006@unknown@formal@none@1@S@The trial of Raful Edmond III in Washington serves to highlight our efforts in this area and the results achieved through our excellent working relationship with the Drug Enforcement Administration and the Metropolitan Police Department (MPD).@@@@1@36@@oe@2-2-2013
21256007@unknown@formal@none@1@S@The FBI's role is to complement the D.C. initiative through not only these major trafficking investigations, but also by providing a full range of services through various task forces and our contacts with local police squads handling drug-related crimes.@@@@1@39@@oe@2-2-2013
21256008@unknown@formal@none@1@S@In fact, we have agents assigned full time to assist the MPD in drug-related crimes such as homicide and other crimes of violence.@@@@1@23@@oe@2-2-2013
21256009@unknown@formal@none@1@S@Milt Ahlerich Assistant Director Office of Public Affairs Federal Bureau of Investigation@@@@1@12@@oe@2-2-2013
21257001@unknown@formal@none@1@S@Ramada Inc. revised the terms of its restructuring and extended to Feb. 28, 1990, the deadline to complete the sale of its hotel business to New World Development Co. of Hong Kong and Prime Motor Inns Inc. of Fairfield, N.J.@@@@1@40@@oe@2-2-2013
21257002@unknown@formal@none@1@S@Ramada's previous plan was derailed by upheaval in the junk-bond market that hindered the offering of $400 million in high-yield securities of Aztar Corp., the new company that will operate Ramada's casinos in Nevada and Atlantic City,@@@@1@37@@oe@2-2-2013
21257003@unknown@formal@none@1@S@Under the new terms, New World will still pay $540 million for Ramada's hotel business, subject to adjustment at closing, but Ramada will now reimburse New World for $10 million in expenses.@@@@1@32@@oe@2-2-2013
21257004@unknown@formal@none@1@S@Prime will still manage Ramada's domestic franchise system when the sale closes.@@@@1@12@@oe@2-2-2013
21257005@unknown@formal@none@1@S@Revised terms call for each Ramada common share to be exchanged for $1 in cash, subject to possible reduction, and one share of Aztar common stock.@@@@1@26@@oe@2-2-2013
21257006@unknown@formal@none@1@S@Shareholders will also receive one cent per share for the redemption of preferred stock purchase rights.@@@@1@16@@oe@2-2-2013
21257007@unknown@formal@none@1@S@The cash payout will be reduced by 40% of any amount by which the weighted mean price of Ramada's common stock exceeds $14 on the day the transaction closes.@@@@1@29@@oe@2-2-2013
21257008@unknown@formal@none@1@S@The provision will help provide for tax liabilities that may stem from the restructuring.@@@@1@14@@oe@2-2-2013
21257009@unknown@formal@none@1@S@Ramada's stock rose 87.5 cents on the news to close at $11.25 in composite New York Stock Exchange trading.@@@@1@19@@oe@2-2-2013
21257010@unknown@formal@none@1@S@The announcement dispelled some Wall Street observers' fears that New World might demand a huge premium for the delay, or scrap the deal entirely.@@@@1@24@@oe@2-2-2013
21257011@unknown@formal@none@1@S@The previous deadline to complete the sale was Nov. 30.@@@@1@10@@oe@2-2-2013
21257012@unknown@formal@none@1@S@One major advantage of the revised plan is that Aztar will have far less debt than under the old terms.@@@@1@20@@oe@2-2-2013
21257013@unknown@formal@none@1@S@"They'll go from being one of the most leveraged to one of the least leveraged casino companies," said Daniel Lee, an analyst with Drexel Burnham Lambert Inc.@@@@1@27@@oe@2-2-2013
21257014@unknown@formal@none@1@S@Mr. Lee values the package at between $15 and $20 a share, based on current trading prices of other casino-company stocks.@@@@1@21@@oe@2-2-2013
21257015@unknown@formal@none@1@S@The much-revised restructuring, which was first announced in October 1988, must again be approved by shareholders and state casino regulators in Nevada and New Jersey.@@@@1@25@@oe@2-2-2013
21257016@unknown@formal@none@1@S@Financing plans include raising $170 million in debt secured by the company's holdings in New Jersey.@@@@1@16@@oe@2-2-2013
21257017@unknown@formal@none@1@S@In May, Ramada sold its Marie Callender Pie Shops Inc. unit to a group of private investors as part of its plan to focus on its casinos in Atlantic City and in Las Vegas and Laughlin, Nev.@@@@1@37@@oe@2-2-2013
21258001@unknown@formal@none@1@S@Bond prices took the high road and stock prices took the low road as worries mounted about the economy and the junk bond market.@@@@1@24@@oe@2-2-2013
21258002@unknown@formal@none@1@S@The Dow Jones Industrial Average fell 26.23 points to 2662.91 in sluggish trading.@@@@1@13@@oe@2-2-2013
21258003@unknown@formal@none@1@S@But long-term Treasury bonds staged a modest rally, with prices on most issues rising about half a point, or $5 for each $1,000 face amount.@@@@1@25@@oe@2-2-2013
21258004@unknown@formal@none@1@S@The dollar sagged against other major currencies in lethargic trading.@@@@1@10@@oe@2-2-2013
21258005@unknown@formal@none@1@S@Traders and analysts said the divergence between the stock and bond markets is a sign of growing unease about the economic outlook.@@@@1@22@@oe@2-2-2013
21258006@unknown@formal@none@1@S@A sinking economy depresses corporate earnings and thus stock prices, but it buoys bond prices as interest rates fall.@@@@1@19@@oe@2-2-2013
21258007@unknown@formal@none@1@S@That unease is expected to grow today when the government reports on September durable goods orders and again Thursday when the first assessment of third-quarter economic growth is released.@@@@1@29@@oe@2-2-2013
21258008@unknown@formal@none@1@S@Analysts say they think durable goods orders fell about 1%, compared with a 3.9% gain in August, and that growth in the third quarter slowed to about 2.3% from the second quarter's 2.5%.@@@@1@33@@oe@2-2-2013
21258009@unknown@formal@none@1@S@The stock market's decline, coming after a record weekly gain of 119.88 points, surprised some investors.@@@@1@16@@oe@2-2-2013
21258010@unknown@formal@none@1@S@But A.C. Moore, director of research at Argus Research, said last week's rally was a reflex reaction to the Oct. 13 stock market rout.@@@@1@24@@oe@2-2-2013
21258011@unknown@formal@none@1@S@Overall, he said, the trend in stock prices will be down as the economy weakens.@@@@1@15@@oe@2-2-2013
21258012@unknown@formal@none@1@S@"We think we're on target in looking for renewed economic deterioration," he said.@@@@1@13@@oe@2-2-2013
21258013@unknown@formal@none@1@S@"Corporate profits are going to decrease faster than interest rates will fall, and the probability is that we'll see negative economic growth in the fourth quarter."@@@@1@26@@oe@2-2-2013
21258014@unknown@formal@none@1@S@Hugh Johnson, chief investment officer at First Albany Corp., agreed that a deteriorating economy is worrisome, but he said the real concern among stock investors is that some new problem will crop up in the junk bond market.@@@@1@38@@oe@2-2-2013
21258015@unknown@formal@none@1@S@In major market activity: Stock prices slumped in sluggish trading.@@@@1@10@@oe@2-2-2013
21258016@unknown@formal@none@1@S@Volume on the New York Stock Exchange totaled 135.9 million shares.@@@@1@11@@oe@2-2-2013
21258017@unknown@formal@none@1@S@Declining issues on the Big Board were ahead of gainers, 1,012 to 501.@@@@1@13@@oe@2-2-2013
21258018@unknown@formal@none@1@S@Bond prices rallied.@@@@1@3@@oe@2-2-2013
21258019@unknown@formal@none@1@S@The yield on the Treasury's benchmark 30-year bond slipped to 7.93%.@@@@1@11@@oe@2-2-2013
21258020@unknown@formal@none@1@S@The dollar weakened against most other major currencies.@@@@1@8@@oe@2-2-2013
21258021@unknown@formal@none@1@S@In late New York trading, the dollar was quoted at 1.8470 marks and 141.90 yen, compared with 1.8578 marks and 142.43 yen late Friday.@@@@1@24@@oe@2-2-2013
21259001@unknown@formal@none@1@S@The Wall Street Journal "American Way of Buying" Survey consists of two separate, door-to-door nationwide polls conducted for the Journal by Peter D. Hart Research Associates and the Roper Organization.@@@@1@30@@oe@2-2-2013
21259002@unknown@formal@none@1@S@The two surveys, which asked different questions, were conducted using national random probability samples.@@@@1@14@@oe@2-2-2013
21259003@unknown@formal@none@1@S@The poll conducted by Peter D. Hart Research Associates interviewed 2,064 adults age 18 and older from June 15 to June 30, 1989.@@@@1@23@@oe@2-2-2013
21259004@unknown@formal@none@1@S@The poll conducted by the Roper Organization interviewed 2,002 adults age 18 and older from July 7 to July 15, 1989.@@@@1@21@@oe@2-2-2013
21259005@unknown@formal@none@1@S@Responses were weighted on the basis of age and gender to conform with U.S. Census data.@@@@1@16@@oe@2-2-2013
21259006@unknown@formal@none@1@S@For each poll, the odds are 19 out of 20 that if pollsters had sought to survey every household in the U.S. using the same questionnaire, the findings would differ from these poll results by no more than 2 1/2 percentage points in either direction.@@@@1@45@@oe@2-2-2013
21259007@unknown@formal@none@1@S@The margin of error for subgroups -- for example, married women with children at home -- would be larger.@@@@1@19@@oe@2-2-2013
21259008@unknown@formal@none@1@S@In addition, in any survey, there is always the chance that other factors such as question wording could introduce errors into the findings.@@@@1@23@@oe@2-2-2013
21259009@unknown@formal@none@1@S@(See related story: "The American Way of Buying: Is Buying a Car a Choice or a Chore? --@@@@1@18@@oe@2-2-2013
21260001@unknown@formal@none@1@S@Ironically, American Airlines' attempt to lead industry prices higher was reported in the same issue as your survey showing that consumers had the least confidence in the airline industry (Sept. 20).@@@@1@31@@oe@2-2-2013
21260002@unknown@formal@none@1@S@You quote Robert Crandall, chairman of American's parent, AMR Corp., as having said that discount deals for big customers would be "dumb" because "you will go to Detroit because you have to go to Detroit whether the fare is $175, $275 or $375."@@@@1@43@@oe@2-2-2013
21260003@unknown@formal@none@1@S@Even if Mr. Crandall is correct, he of all people must realize our society relies on competition to keep prices at a competitive level.@@@@1@24@@oe@2-2-2013
21260004@unknown@formal@none@1@S@In 1986, he settled an antitrust suit based on a taped telephone conversation of him proposing to Braniff's president that they both raise fares 20%.@@@@1@25@@oe@2-2-2013
21260005@unknown@formal@none@1@S@(Braniff declined).@@@@1@2@@oe@2-2-2013
21260006@unknown@formal@none@1@S@When I asked American Airlines for its side of the story for use in my MBA class, where I teach business ethics, it did not respond.@@@@1@26@@oe@2-2-2013
21260007@unknown@formal@none@1@S@Perhaps the ethics of an industry's leader filters down and is one of the factors that ultimately shapes consumer trust in that industry.@@@@1@23@@oe@2-2-2013
21260008@unknown@formal@none@1@S@Arnold Celnicker Assistant Professor Ohio State University@@@@1@7@@oe@2-2-2013
21261001@unknown@formal@none@1@S@Meredith Corp. is launching a new service to offer advertisers package deals combining its book, magazine and videocassette products.@@@@1@19@@oe@2-2-2013
21261002@unknown@formal@none@1@S@The Des Moines-based publisher said it created a new Custom Marketing Group that will offer advertisers special rates for combination packages in its magazines, such as Ladies Home Journal and Better Homes and Gardens.@@@@1@34@@oe@2-2-2013
21261003@unknown@formal@none@1@S@In addition, the group will create custom-designed media such as cookbooks, newspaper inserts and videos for ad campaigns.@@@@1@18@@oe@2-2-2013
21261004@unknown@formal@none@1@S@Earlier this year, Meredith sold its first such package for $3 million to Kraft Inc., now a unit of New York-based Philip Morris Cos.@@@@1@24@@oe@2-2-2013
21261005@unknown@formal@none@1@S@The Kraft package included a specially published cookbook, a national free-standing insert in Sunday newspapers, and a Kraft "advertorial" section that ran in five Meredith magazines.@@@@1@26@@oe@2-2-2013
21261006@unknown@formal@none@1@S@Kraft recently agreed to spend an additional $3 million on similar programs through 1990.@@@@1@14@@oe@2-2-2013
21261007@unknown@formal@none@1@S@Bill Murphy, director of the new marketing unit, said Meredith is negotiating other large-scale packages with leading companies in several product categories, but he wouldn't disclose their names.@@@@1@28@@oe@2-2-2013
21261008@unknown@formal@none@1@S@Sources close to the company and ad agencies that work with Meredith said leading advertisers in consumer electronics, packaged goods and automotive products were among those negotiating ad packages with the Meredith group.@@@@1@33@@oe@2-2-2013
21261009@unknown@formal@none@1@S@Other magazine publishing companies have been moving in the same direction.@@@@1@11@@oe@2-2-2013
21261010@unknown@formal@none@1@S@The New York Times Co.'s Magazine Group earlier this year began offering advertisers extensive merchandising services built around buying ad pages in its Golf Digest magazine.@@@@1@26@@oe@2-2-2013
21261011@unknown@formal@none@1@S@Time Warner Inc. recently formed a "synergy department" to seek out ways to offer advertisers packages that could combine Time's magazines with Warner products such as videocassettes.@@@@1@27@@oe@2-2-2013
21261012@unknown@formal@none@1@S@Paul DuCharme, director of media services at Grey Advertising, said Meredith is the leader in providing multimedia packages.@@@@1@18@@oe@2-2-2013
21261013@unknown@formal@none@1@S@"They may get passed up later when other publishers get their acts together, but for now they are the quickest offering the most extensive plan," he said.@@@@1@27@@oe@2-2-2013
21261014@unknown@formal@none@1@S@Mr. Murphy of Meredith said one advertiser, which he wouldn't identify, wants Meredith to provide ad pages in seven Meredith magazines, publish an interior-decorating book that will be distributed at point of purchase, give away a videotape on installation pointers, and possibly use Meredith's Better Homes and Gardens' residential real-estate agents to distribute discount-coupon books to new homeowners.@@@@1@58@@oe@2-2-2013
21261015@unknown@formal@none@1@S@"Five years ago, magazine publishers would simply bid on an advertiser's big ad schedule for their magazine," said Mr. Murphy.@@@@1@20@@oe@2-2-2013
21261016@unknown@formal@none@1@S@"But the marketplace changed.@@@@1@4@@oe@2-2-2013
21261017@unknown@formal@none@1@S@Advertisers now say `Help us improve our image and extend our selling season.'@@@@1@13@@oe@2-2-2013
21261018@unknown@formal@none@1@S@They are coming to publishers looking for ideas.@@@@1@8@@oe@2-2-2013
21262001@unknown@formal@none@1@S@Your Sept. 21 article "It's So Easy to Get Burned When Buying a Small Firm" was excellent.@@@@1@17@@oe@2-2-2013
21262002@unknown@formal@none@1@S@I've been advising small businesses many years and have lived with the fact that 50% will go out of business within two years, and 80% in five years.@@@@1@28@@oe@2-2-2013
21262003@unknown@formal@none@1@S@The economic loss, jobs lost, anguish, frustration and humiliation are beyond measure.@@@@1@12@@oe@2-2-2013
21262004@unknown@formal@none@1@S@And most of these are absolutely unnecessary.@@@@1@7@@oe@2-2-2013
21262005@unknown@formal@none@1@S@Your article points out the traps people fall into, but when reviewing those traps one sees just about all of them could have been avoided.@@@@1@25@@oe@2-2-2013
21262006@unknown@formal@none@1@S@An accountant did not review the seller's books before buying a business.@@@@1@12@@oe@2-2-2013
21262007@unknown@formal@none@1@S@"I guess I was naive," he said.@@@@1@7@@oe@2-2-2013
21262008@unknown@formal@none@1@S@There is a more descriptive word to describe his lapse of common sense.@@@@1@13@@oe@2-2-2013
21262009@unknown@formal@none@1@S@Corporate managers who want to start their own business are the highest failure risks.@@@@1@14@@oe@2-2-2013
21262010@unknown@formal@none@1@S@They know all the answers and are not used to working more than 40 hours a week.@@@@1@17@@oe@2-2-2013
21262011@unknown@formal@none@1@S@The blue-collar worker who decides to start a business will listen and take advice.@@@@1@14@@oe@2-2-2013
21262012@unknown@formal@none@1@S@His humility gives him a much better chance of success.@@@@1@10@@oe@2-2-2013
21262013@unknown@formal@none@1@S@A few months ago your paper reported the results of a study to determine why Asians who arrive in this country without any money, and unable to speak English, become overnight successes.@@@@1@32@@oe@2-2-2013
21262014@unknown@formal@none@1@S@Their "secret" is that they gather a small group of advisers around them, listen to what they have to say, prepare a business plan and they are on their way.@@@@1@30@@oe@2-2-2013
21262015@unknown@formal@none@1@S@Successful American business owners do the same thing.@@@@1@8@@oe@2-2-2013
21262016@unknown@formal@none@1@S@Unfortunately, they are in the minority.@@@@1@6@@oe@2-2-2013
21262017@unknown@formal@none@1@S@Avoiding failure is easy.@@@@1@4@@oe@2-2-2013
21262018@unknown@formal@none@1@S@It's unfortunate so many must learn the hard way.@@@@1@9@@oe@2-2-2013
21262019@unknown@formal@none@1@S@Daniel B. Scully Tucson, Ariz.@@@@1@5@@oe@2-2-2013
21263001@unknown@formal@none@1@S@The management turnover at Reebok International Ltd. continued with the resignation of company president C. Joseph LaBonte, who joined Reebok just two years ago.@@@@1@24@@oe@2-2-2013
21263002@unknown@formal@none@1@S@Mr. LaBonte's departure follows by two months the resignation of Mark Goldston as senior vice president and chief marketing officer after only 11 months at Reebok.@@@@1@26@@oe@2-2-2013
21263003@unknown@formal@none@1@S@The resignations by the two executives, considered hard-charging and abrasive by Reebok insiders, reflect a difference in style with Paul Fireman, chairman and chief executive, according to several former executives.@@@@1@30@@oe@2-2-2013
21263004@unknown@formal@none@1@S@The two executives are among a number of outsiders recruited by Reebok in the past few years to help it make the transition from a small start-up company to a marketing giant with sales last year of $1.79 billion.@@@@1@39@@oe@2-2-2013
21263005@unknown@formal@none@1@S@The changes come as Reebok, which grew rapidly in the mid-1980s but has seen its sales flatten of late, is seeking to regain momentum in the athletic-shoe business against rivals Nike Inc. and L.A. Gear Inc.@@@@1@36@@oe@2-2-2013
21263006@unknown@formal@none@1@S@The departures, said Alice Ruth, an analyst at Montgomery Securities in San Francisco, should enable the company to focus on business issues instead of management differences.@@@@1@26@@oe@2-2-2013
21263007@unknown@formal@none@1@S@"I think it's more an issue of style.@@@@1@8@@oe@2-2-2013
21263008@unknown@formal@none@1@S@I would view it as a net positive.@@@@1@8@@oe@2-2-2013
21263009@unknown@formal@none@1@S@The company can go about its business.@@@@1@7@@oe@2-2-2013
21263010@unknown@formal@none@1@S@They're in the midst of a turnaround," she noted.@@@@1@9@@oe@2-2-2013
21263011@unknown@formal@none@1@S@Earnings have rebounded in 1989 after a 20% decline last year.@@@@1@11@@oe@2-2-2013
21263012@unknown@formal@none@1@S@A former executive agreed that the departures don't reflect major problems, adding: "If you see any company that grows as fast as Reebok did, it is going to have people coming and going."@@@@1@33@@oe@2-2-2013
21263013@unknown@formal@none@1@S@Reebok said Mr. LaBonte will resume the presidency of Vantage Group Inc., a California-based venture capital firm that he founded in 1983.@@@@1@22@@oe@2-2-2013
21263014@unknown@formal@none@1@S@Before that he was president and chief operating officer of Twentieth Century-Fox Film Corp.@@@@1@14@@oe@2-2-2013
21263015@unknown@formal@none@1@S@Reebok added that Mr. Fireman will assume the title of president.@@@@1@11@@oe@2-2-2013
21263016@unknown@formal@none@1@S@A spokesman said that neither Mr. Fireman nor Mr. LaBonte would be available for comment.@@@@1@15@@oe@2-2-2013
21263017@unknown@formal@none@1@S@"We will not be commenting beyond the news release," the spokesman said.@@@@1@12@@oe@2-2-2013
21263018@unknown@formal@none@1@S@Mr. Goldston, who had been president of Faberge Inc.'s Faberge U.S.A. division before joining Reebok in September 1988, left in August to pursue other interests.@@@@1@25@@oe@2-2-2013
21264001@unknown@formal@none@1@S@Magazine publishers are facing spiraling costs and a glut of new titles.@@@@1@12@@oe@2-2-2013
21264002@unknown@formal@none@1@S@But even a raft of recent failures isn't stopping them from launching new publications.@@@@1@14@@oe@2-2-2013
21264003@unknown@formal@none@1@S@At the American Magazine Conference here, publishers are plenty worried about the industry's woes.@@@@1@14@@oe@2-2-2013
21264004@unknown@formal@none@1@S@But they are also talking about new magazines.@@@@1@8@@oe@2-2-2013
21264005@unknown@formal@none@1@S@For example, Toronto-based Telemedia Inc. will publish Eating Well, a new food and health magazine due out next summer.@@@@1@19@@oe@2-2-2013
21264006@unknown@formal@none@1@S@New York-based Hearst Corp. this fall plans to publish its first issue of 9 Months, a magazine for expectant mothers, and has already launched American Home.@@@@1@26@@oe@2-2-2013
21264007@unknown@formal@none@1@S@And Time Warner Inc. is developing a spinoff of Time magazine aimed at kids, on the heels of its successful Sports Illustrated for Kids.@@@@1@24@@oe@2-2-2013
21264008@unknown@formal@none@1@S@Over the past four years, the number of consumer magazines has increased by an average of 80 magazines annually, according to Donald Kummerfeld, president of the Magazine Publishers of America.@@@@1@30@@oe@2-2-2013
21264009@unknown@formal@none@1@S@"This is an impressive show of faith in the future of the magazine industry," said Mr. Kummerfeld.@@@@1@17@@oe@2-2-2013
21264010@unknown@formal@none@1@S@"Entrepreneurs don't rush to get into a stagnant or declining industry."@@@@1@11@@oe@2-2-2013
21264011@unknown@formal@none@1@S@And despite the recent tough advertising climate, industry figures released at the meeting here indicate things may be turning around.@@@@1@20@@oe@2-2-2013
21264012@unknown@formal@none@1@S@For the first nine months, advertising pages in consumer magazines tracked by the Publishers Information Bureau increased 4% from the same period last year, to 125,849 pages.@@@@1@27@@oe@2-2-2013
21264013@unknown@formal@none@1@S@Total magazine ad revenue for the same period increased 12% to $4.6 billion.@@@@1@13@@oe@2-2-2013
21264014@unknown@formal@none@1@S@Though for some magazines categories a tough advertising climate persists, the industry in general is doing well compared with the newspaper industry.@@@@1@22@@oe@2-2-2013
21264015@unknown@formal@none@1@S@Though some magazines are thriving, the magazine publishing industry remains a risky business.@@@@1@13@@oe@2-2-2013
21264016@unknown@formal@none@1@S@Within the same nine months, News Corp. closed down In Fashion, a once-promising young woman's fashion magazine, Drake Publications Inc. has folded the long-troubled Venture magazine, and Lang Communications has announced Ms. magazine, after 17 years, will no longer carry advertising as of January.@@@@1@44@@oe@2-2-2013
21264017@unknown@formal@none@1@S@Lang is cutting costs and will attempt to operate the magazine with only subscription revenue.@@@@1@15@@oe@2-2-2013
21264018@unknown@formal@none@1@S@Meanwhile, American Health Partners, publisher of American Health magazine, is deep in debt, and Owen Lipstein, founder and managing partner, is being forced to sell the magazine to Reader's Digest Association Inc.@@@@1@32@@oe@2-2-2013
21264019@unknown@formal@none@1@S@Mr. Lipstein's absence from the meeting here raised speculation that the sale is in trouble.@@@@1@15@@oe@2-2-2013
21264020@unknown@formal@none@1@S@Mr. Lipstein said in a telephone interview from New York that the sale was proceeding as planned.@@@@1@17@@oe@2-2-2013
21264021@unknown@formal@none@1@S@"The magazine is strong.@@@@1@4@@oe@2-2-2013
21264022@unknown@formal@none@1@S@It's simply the right time to do what we are doing," Mr. Lipstein said.@@@@1@14@@oe@2-2-2013
21264023@unknown@formal@none@1@S@"Magazines can no longer be considered institutions," said James Autry, president of Meredith Corp.'s magazine group.@@@@1@16@@oe@2-2-2013
21264024@unknown@formal@none@1@S@"Publishers will find that some magazines have served their purpose and should die," he added.@@@@1@15@@oe@2-2-2013
21264025@unknown@formal@none@1@S@"Magazines could, like other brands, find that they have only a limited life."@@@@1@13@@oe@2-2-2013
21264026@unknown@formal@none@1@S@There are also indications that the number of magazine entrepreneurs, traditionally depended upon to break new ground with potentially risky start-ups, are dwindling.@@@@1@23@@oe@2-2-2013
21264027@unknown@formal@none@1@S@More than ever, independent magazines and small publishing groups are being gobbled up by larger publishing groups, such as American Express Publishing Corp., a unit of American Express Co., and Conde Nast Publications Inc., a unit of Advance Publications Inc., which are consolidating in order to gain leverage with advertisers.@@@@1@50@@oe@2-2-2013
21264028@unknown@formal@none@1@S@Some entrepreneurs are still active, though.@@@@1@6@@oe@2-2-2013
21264029@unknown@formal@none@1@S@Gerry Ritterman, president of New York-based Network Publishing Corp., earlier this year sold his Soap Opera Digest magazine to Rupert Murdoch's News Corp.@@@@1@23@@oe@2-2-2013
21264030@unknown@formal@none@1@S@Mr. Ritterman said that in the next six months he will take $50 million from the Soap Opera Digest sale to acquire new magazines.@@@@1@24@@oe@2-2-2013
21264031@unknown@formal@none@1@S@He would not reveal which magazines he is considering.@@@@1@9@@oe@2-2-2013
21264032@unknown@formal@none@1@S@"The magazines I am looking for are underdeveloped," said Mr. Ritterman.@@@@1@11@@oe@2-2-2013
21264033@unknown@formal@none@1@S@"They could be old or new, but they are magazines whose editorial quality needs to be improved.@@@@1@17@@oe@2-2-2013
21264034@unknown@formal@none@1@S@They will be the next hot magazines.@@@@1@7@@oe@2-2-2013
21265001@unknown@formal@none@1@S@MCA Inc. said its toy-making unit agreed to buy Buddy L Corp., producer of a line of toy vehicles and preschool products.@@@@1@22@@oe@2-2-2013
21265002@unknown@formal@none@1@S@The price wasn't disclosed, but an executive of LJN Toys Ltd., the MCA unit, said the closely held Buddy L had annual sales in excess of $20 million.@@@@1@28@@oe@2-2-2013
21265003@unknown@formal@none@1@S@The 40-year-old Buddy L concern, based in New York, designs and develops toys under the names "Buddy L" and "My First Buddy," he said.@@@@1@24@@oe@2-2-2013
21265004@unknown@formal@none@1@S@MCA said it expects the proposed transaction to be completed "no later than Nov. 10.@@@@1@15@@oe@2-2-2013
21266001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
21266002@unknown@formal@none@1@S@FRANKLIN NATIONAL BANK DIED at 3 p.m. EDT, Oct. 8, 1974, and was promptly resurrected under new owners to shore up confidence in other banks during a recession.@@@@1@28@@oe@2-2-2013
21266003@unknown@formal@none@1@S@Arthur Burns, Federal Reserve Board chairman, said the government's "luck" in keeping the bank open -- despite being the then-biggest U.S. bank failure -- prevented "shock waves around the country and around the world."@@@@1@34@@oe@2-2-2013
21266004@unknown@formal@none@1@S@Federal officials who had been probing the bank for months arranged a merger with European-American Bank & Trust, owned by six foreign banks, to avert the closedown.@@@@1@27@@oe@2-2-2013
21266005@unknown@formal@none@1@S@And federal insurance protected the bank's 631,163 depositors.@@@@1@8@@oe@2-2-2013
21266006@unknown@formal@none@1@S@The crisis had peaked on May 10, 1974, when the bank disclosed "severe" foreign-exchange losses due to "unauthorized" trading.@@@@1@19@@oe@2-2-2013
21266007@unknown@formal@none@1@S@Massive withdrawals followed and there was a brief rescue attempt, with political undertones, including $1.77 billion in Federal Reserve loans.@@@@1@20@@oe@2-2-2013
21266008@unknown@formal@none@1@S@Within six years many figures were convicted for their illegal abuse of Franklin funds.@@@@1@14@@oe@2-2-2013
21266009@unknown@formal@none@1@S@In June 1980, Michele Sindona -- an Italian financier who in July 1972 had bought a 22% block of Franklin's stock from Loews Corp., headed by Laurence A. Tisch -- was sentenced to 25 years in prison after being convicted of fraud and perjury.@@@@1@44@@oe@2-2-2013
21266010@unknown@formal@none@1@S@Included was the charge that Sindona siphoned $45 million of Franklin funds for his other ventures.@@@@1@16@@oe@2-2-2013
21266011@unknown@formal@none@1@S@(Sindona in 1979 faked his "kidnapping" for 2 1/2 months to delay his trial.)@@@@1@14@@oe@2-2-2013
21266012@unknown@formal@none@1@S@During 1976 to 1979, other former Franklin officials either pleaded guilty to or were found guilty of violations including phony transactions to hide the bank's losses.@@@@1@26@@oe@2-2-2013
21266013@unknown@formal@none@1@S@Sindona, the onetime Vatican financial adviser with reported links to the Mafia, died on March 22, 1986, at age 65, reportedly after drinking cyanide-laced coffee in an Italian prison.@@@@1@29@@oe@2-2-2013
21266014@unknown@formal@none@1@S@It happened four days after he was sentenced to life in prison for ordering a 1979 murder.@@@@1@17@@oe@2-2-2013
21266015@unknown@formal@none@1@S@Italian magistrates labeled his death a suicide.@@@@1@7@@oe@2-2-2013
21267001@unknown@formal@none@1@S@In a nondescript office building south of Los Angeles, human behavior is being monitored, dissected and, ultimately, manipulated.@@@@1@18@@oe@2-2-2013
21267002@unknown@formal@none@1@S@A squiggly line snakes across a video screen, gyrating erratically as subjects with hand-held computers register their second-by-second reactions to a speaker's remarks.@@@@1@23@@oe@2-2-2013
21267003@unknown@formal@none@1@S@Agreement, disapproval, boredom and distraction all can be inferred from the subjects' twist of a dial.@@@@1@16@@oe@2-2-2013
21267004@unknown@formal@none@1@S@In another experiment, an elaborate chart with color codes reveals how people's opinions were shaped -- and how they can be reshaped.@@@@1@22@@oe@2-2-2013
21267005@unknown@formal@none@1@S@Donald Vinson, who oversees the experiments, isn't some white-coated researcher.@@@@1@10@@oe@2-2-2013
21267006@unknown@formal@none@1@S@He heads Litigation Sciences Inc., the nation's largest legal consulting firm, which is helping corporate America prepare for high-stakes litigation by predicting and shaping jurors' reactions.@@@@1@26@@oe@2-2-2013
21267007@unknown@formal@none@1@S@In the process, Litigation Sciences is quietly but inexorably reshaping the world of law.@@@@1@14@@oe@2-2-2013
21267008@unknown@formal@none@1@S@Little known outside the legal world but a powerhouse within, Litigation Sciences, a unit of Saatchi & Saatchi PLC, employs more than 100 psychologists, sociologists, marketers, graphic artists and technicians.@@@@1@30@@oe@2-2-2013
21267009@unknown@formal@none@1@S@Twenty-one of its workers are Ph. D.s.@@@@1@7@@oe@2-2-2013
21267010@unknown@formal@none@1@S@Among other services, the firm provides pre-trial opinion polls, creates profiles of "ideal" jurors, sets up mock trials and "shadow" juries, coaches lawyers and witnesses, and designs courtroom graphics.@@@@1@29@@oe@2-2-2013
21267011@unknown@formal@none@1@S@Much like their cohorts in political consulting and product marketing, the litigation advisers encourage their clients to play down complex or ambiguous matters, simplify their messages and provide their target audiences with a psychological craving to make the desired choice.@@@@1@40@@oe@2-2-2013
21267012@unknown@formal@none@1@S@With jury verdicts getting bigger all the time, companies are increasingly willing to pay huge sums for such advice.@@@@1@19@@oe@2-2-2013
21267013@unknown@formal@none@1@S@Recently, Litigation Sciences helped Pennzoil Co. win a $10.5 billion jury verdict against Texaco Inc.@@@@1@15@@oe@2-2-2013
21267014@unknown@formal@none@1@S@It advised the National Football League in its largely successful defense of antitrust charges by the United States Football League.@@@@1@20@@oe@2-2-2013
21267015@unknown@formal@none@1@S@And it helped win defense verdicts in product-liability suits involving scores of products, ranging from Firestone 500 tires to the anti-nausea drug Bendectin.@@@@1@23@@oe@2-2-2013
21267016@unknown@formal@none@1@S@Largely as a result, Litigation Sciences has more than doubled in size in the past two years.@@@@1@17@@oe@2-2-2013
21267017@unknown@formal@none@1@S@Its 1988 revenue was $25 million.@@@@1@6@@oe@2-2-2013
21267018@unknown@formal@none@1@S@Meanwhile, competitors are being spawned almost daily; some 300 new businesses -- many just one-person shops -- have sprung up.@@@@1@20@@oe@2-2-2013
21267019@unknown@formal@none@1@S@Mr. Vinson estimates the industry's total revenues approach $200 million.@@@@1@10@@oe@2-2-2013
21267020@unknown@formal@none@1@S@In any high-stakes case, you can be sure that one side or the other -- or even both -- is using litigation consultants.@@@@1@23@@oe@2-2-2013
21267021@unknown@formal@none@1@S@Despite their ubiquity, the consultants aren't entirely welcome.@@@@1@8@@oe@2-2-2013
21267022@unknown@formal@none@1@S@Some lawyers and scholars see the social scientists' vision of the American jury system as a far cry from the ideal presented in civics texts and memorialized on the movie screen.@@@@1@31@@oe@2-2-2013
21267023@unknown@formal@none@1@S@In the film classic "Twelve Angry Men," the crucible of deliberations unmasks each juror's bias and purges it from playing a role in the verdict.@@@@1@25@@oe@2-2-2013
21267024@unknown@formal@none@1@S@After hours of conflict and debate, that jury focuses on the facts with near-perfect objectivity.@@@@1@15@@oe@2-2-2013
21267025@unknown@formal@none@1@S@In real life, jurors may not always work that way, but some court observers question why they shouldn't be encouraged to do so rather than be programmed not to.@@@@1@29@@oe@2-2-2013
21267026@unknown@formal@none@1@S@Litigation consulting is, as New York trial attorney Donald Zoeller puts it, "highly manipulative."@@@@1@14@@oe@2-2-2013
21267027@unknown@formal@none@1@S@He adds, "The notion they try to sell is that juries don't make decisions rationally.@@@@1@15@@oe@2-2-2013
21267028@unknown@formal@none@1@S@But the effort is also being made to try and cause jurors not to decide things rationally.@@@@1@17@@oe@2-2-2013
21267029@unknown@formal@none@1@S@I find it troubling."@@@@1@4@@oe@2-2-2013
21267030@unknown@formal@none@1@S@But Mr. Zoeller also acknowledges that consultants can be very effective.@@@@1@11@@oe@2-2-2013
21267031@unknown@formal@none@1@S@"It's gotten to the point where if the case is large enough, it's almost malpractice not to use them," he says.@@@@1@21@@oe@2-2-2013
21267032@unknown@formal@none@1@S@Others complain that the consultants' growing influence exacerbates the advantage of litigants wealthy enough to afford such pricey services.@@@@1@19@@oe@2-2-2013
21267033@unknown@formal@none@1@S@"The affluent people and the corporations can buy it, the poor radicals {in political cases} get it free, and everybody in between is at a disadvantage, and that's not the kind of system we want," says Amitai Etzioni, a prominent sociologist who teaches at George Washington University.@@@@1@47@@oe@2-2-2013
21267034@unknown@formal@none@1@S@Sophisticated trial consulting grew, ironically, from the radical political movements of the 1960s and 1970s before finding its more lucrative calling in big commercial cases.@@@@1@25@@oe@2-2-2013
21267035@unknown@formal@none@1@S@The Harrisburg 7 trial in 1972, in which Daniel Berrigan and others were charged with plotting anti-war-related violence, was a landmark.@@@@1@21@@oe@2-2-2013
21267036@unknown@formal@none@1@S@In that case, a group of left-leaning sociologists interviewed 252 registered voters around Harrisburg.@@@@1@14@@oe@2-2-2013
21267037@unknown@formal@none@1@S@The researchers discovered that Episcopalians, Presbyterians, Methodists and fundamantalist Protestants were nearly always against the defendants; the lawyers resolved to try to keep them off the jury.@@@@1@27@@oe@2-2-2013
21267038@unknown@formal@none@1@S@The defense also learned that college-educated people were uncharacteristically conservative about the Vietnam War.@@@@1@14@@oe@2-2-2013
21267039@unknown@formal@none@1@S@A more blue-collar panel became a second aim.@@@@1@8@@oe@2-2-2013
21267040@unknown@formal@none@1@S@Ultimately, that carefully picked jury deadlocked with a 10-2 vote to acquit, and the prosecution decided not to retry the case.@@@@1@21@@oe@2-2-2013
21267041@unknown@formal@none@1@S@Litigation consulting had arrived.@@@@1@4@@oe@2-2-2013
21267042@unknown@formal@none@1@S@The fledgling science went corporate in 1977 when International Business Machines Corp. hired a marketing professor to help defend a complex antitrust case.@@@@1@23@@oe@2-2-2013
21267043@unknown@formal@none@1@S@The problem for IBM trial lawyers Thomas Barr and David Boies was how to make such a highly technical case understandable.@@@@1@21@@oe@2-2-2013
21267044@unknown@formal@none@1@S@As the trial progressed, they were eager to know if the jury was keeping up with them.@@@@1@17@@oe@2-2-2013
21267045@unknown@formal@none@1@S@The solution devised by the professor was to hire six people who would mirror the actual jury demographically, sit in on the trial and report their reactions to him.@@@@1@29@@oe@2-2-2013
21267046@unknown@formal@none@1@S@He then briefed Messrs. Boies and Barr, who had the chance to tilt their next day's presentation accordingly.@@@@1@18@@oe@2-2-2013
21267047@unknown@formal@none@1@S@Thus, the "shadow" jury was born.@@@@1@6@@oe@2-2-2013
21267048@unknown@formal@none@1@S@Mr. Vinson, the professor, got the law bug and formed Litigation Sciences.@@@@1@12@@oe@2-2-2013
21267049@unknown@formal@none@1@S@(IBM won the case.)@@@@1@4@@oe@2-2-2013
21267050@unknown@formal@none@1@S@"The hardest thing in any complex case is to retain objectivity and, in some sense, your ignorance," says Mr. Boies of Cravath, Swaine & Moore.@@@@1@25@@oe@2-2-2013
21267051@unknown@formal@none@1@S@"What you look for in a shadow jury is very much what you do when you give an opening argument to your wife or a friend and get some response to it.@@@@1@32@@oe@2-2-2013
21267052@unknown@formal@none@1@S@A shadow jury is a way to do that in a more systematic and organized way."@@@@1@16@@oe@2-2-2013
21267053@unknown@formal@none@1@S@The approach worked well in the recent antitrust case in which Energy Transportation Systems Inc. sued Santa Fe Pacific Corp. over the transport of semi-liquefied coal -- the kind of case likely to make almost anyone's eyes glaze over.@@@@1@39@@oe@2-2-2013
21267054@unknown@formal@none@1@S@Energy Transportation retained Litigation Sciences, at a cost of several hundred thousand dollars, to poll, pre-try, profile and shadow.@@@@1@19@@oe@2-2-2013
21267055@unknown@formal@none@1@S@Just before the actual closing arguments, the firm put the case to a vote of the five shadow jurors, each of whom was being paid $150 a day.@@@@1@28@@oe@2-2-2013
21267056@unknown@formal@none@1@S@The jurors, who didn't know which side had retained them, decided for Energy Transportation, and awarded $500 million in damages.@@@@1@20@@oe@2-2-2013
21267057@unknown@formal@none@1@S@The real jury returned days later with a $345 million victory for Energy Transportation.@@@@1@14@@oe@2-2-2013
21267058@unknown@formal@none@1@S@"It's just like weather forecasting," says Energy Transportation trial attorney Harry Reasoner of Vinson & Elkins.@@@@1@16@@oe@2-2-2013
21267059@unknown@formal@none@1@S@"It's often wrong, but it's better than consulting an Indian rain dancer."@@@@1@12@@oe@2-2-2013
21267060@unknown@formal@none@1@S@Forecasting is only one part of Litigation Sciences' work.@@@@1@9@@oe@2-2-2013
21267061@unknown@formal@none@1@S@Changing the outcome of the trial is what really matters.@@@@1@10@@oe@2-2-2013
21267062@unknown@formal@none@1@S@And to the uninitiated, some of the firm's approaches may seem chillingly manipulative.@@@@1@13@@oe@2-2-2013
21267063@unknown@formal@none@1@S@Theoretically, jurors are supposed to weigh the evidence in a case logically and objectively.@@@@1@14@@oe@2-2-2013
21267064@unknown@formal@none@1@S@Instead, Mr. Vinson says, interviews with thousands of jurors reveal that they start with firmly entrenched attitudes and try to shoe-horn the facts of the case to fit their views.@@@@1@30@@oe@2-2-2013
21267065@unknown@formal@none@1@S@Pre-trial polling helps the consultants develop a profile of the right type of juror.@@@@1@14@@oe@2-2-2013
21267066@unknown@formal@none@1@S@If it is a case in which the client seeks punitive damages, for example, depressed, underemployed people are far more likely to grant them.@@@@1@24@@oe@2-2-2013
21267067@unknown@formal@none@1@S@Someone with a master's degree in classical arts who works in a deli would be ideal, Litigation Sciences advises.@@@@1@19@@oe@2-2-2013
21267068@unknown@formal@none@1@S@So would someone recently divorced or widowed.@@@@1@7@@oe@2-2-2013
21267069@unknown@formal@none@1@S@(Since Litigation Sciences generally represents the defense, its job is usually to help the lawyers identify and remove such people from the jury.)@@@@1@23@@oe@2-2-2013
21267070@unknown@formal@none@1@S@For personal-injury cases, Litigation Sciences seeks defense jurors who believe that most people, including victims, get what they deserve.@@@@1@19@@oe@2-2-2013
21267071@unknown@formal@none@1@S@Such people also typically hold negative attitudes toward the physically handicapped, the poor, blacks and women.@@@@1@16@@oe@2-2-2013
21267072@unknown@formal@none@1@S@The consultants help the defense lawyers find such jurors by asking questions about potential jurors' attitudes toward volunteer work, or toward particular movies or books.@@@@1@25@@oe@2-2-2013
21267073@unknown@formal@none@1@S@Litigation Sciences doesn't make moral distinctions.@@@@1@6@@oe@2-2-2013
21267074@unknown@formal@none@1@S@If a client needs prejudiced jurors, the firm will help find them.@@@@1@12@@oe@2-2-2013
21267075@unknown@formal@none@1@S@As Mr. Vinson explains it, "We don't control the facts.@@@@1@10@@oe@2-2-2013
21267076@unknown@formal@none@1@S@They are what they are.@@@@1@5@@oe@2-2-2013
21267077@unknown@formal@none@1@S@But any lawyer will select the facts and the strategy to employ.@@@@1@12@@oe@2-2-2013
21267078@unknown@formal@none@1@S@In our system of advocacy, the trial lawyer is duty bound to present the best case he possibly can."@@@@1@19@@oe@2-2-2013
21267079@unknown@formal@none@1@S@Once a jury is selected, the consultants often continue to determine what the jurors' attitudes are likely to be and help shape the lawyers' presentation accordingly.@@@@1@26@@oe@2-2-2013
21267080@unknown@formal@none@1@S@Logic plays a minimal role here.@@@@1@6@@oe@2-2-2013
21267081@unknown@formal@none@1@S@More important are what LSI calls "psychological anchors" -- a few focal points calculated to appeal to the jury on a gut level.@@@@1@23@@oe@2-2-2013
21267082@unknown@formal@none@1@S@In one personal-injury case, a woman claimed she had been injured when she slipped in a pool, but the fall didn't explain why one of her arms was discolored bluish.@@@@1@30@@oe@2-2-2013
21267083@unknown@formal@none@1@S@By repeatedly drawing the jury's attention to the arm, the defense lawyers planted doubt about the origin of the woman's injuries.@@@@1@21@@oe@2-2-2013
21267084@unknown@formal@none@1@S@The ploy worked.@@@@1@3@@oe@2-2-2013
21267085@unknown@formal@none@1@S@The defense won.@@@@1@3@@oe@2-2-2013
21267086@unknown@formal@none@1@S@In a classic defense of a personal-injury case, the consultants concentrate on encouraging the jury to shift the blame.@@@@1@19@@oe@2-2-2013
21267087@unknown@formal@none@1@S@"The ideal defense in a case involving an accident is to persuade the jurors to hold the accident victim responsible for his or her plight," Mr. Vinson has written.@@@@1@29@@oe@2-2-2013
21267088@unknown@formal@none@1@S@Slick graphics, pre-tested for effectiveness, also play a major role in Litigation Sciences' operation.@@@@1@14@@oe@2-2-2013
21267089@unknown@formal@none@1@S@Studies show, the consultants say, that people absorb information better and remember it longer if they receive it visually.@@@@1@19@@oe@2-2-2013
21267090@unknown@formal@none@1@S@Computer-generated videos help.@@@@1@3@@oe@2-2-2013
21267091@unknown@formal@none@1@S@"The average American watches seven hours of TV a day.@@@@1@10@@oe@2-2-2013
21267092@unknown@formal@none@1@S@They are very visually sophisticated," explains LSI graphics specialist Robert Seltzer.@@@@1@11@@oe@2-2-2013
21267093@unknown@formal@none@1@S@Lawyers remain divided about whether anything is wrong with all this.@@@@1@11@@oe@2-2-2013
21267094@unknown@formal@none@1@S@Supporters acknowledge that the process aims to manipulate, but they insist that the best trial lawyers have always employed similar tactics.@@@@1@21@@oe@2-2-2013
21267095@unknown@formal@none@1@S@"They may not have been able to articulate it all, but they did it," says Stephen Gillers, a legal ethics expert at New York University law school.@@@@1@27@@oe@2-2-2013
21267096@unknown@formal@none@1@S@"What you have here is intuition made manifest."@@@@1@8@@oe@2-2-2013
21267097@unknown@formal@none@1@S@Many lawyers maintain that all's fair in the adversary system as long as no one tampers with the evidence.@@@@1@19@@oe@2-2-2013
21267098@unknown@formal@none@1@S@Others point out that lawyers in small communities have always had a feel for public sentiment -- and used that to advantage.@@@@1@22@@oe@2-2-2013
21267099@unknown@formal@none@1@S@Litigation consulting isn't a guarantee of a favorable outcome.@@@@1@9@@oe@2-2-2013
21267100@unknown@formal@none@1@S@Litigation Sciences concedes that in one in 20 cases it was flatout wrong in its predictions.@@@@1@16@@oe@2-2-2013
21267101@unknown@formal@none@1@S@A few attorneys offer horror stories of jobs botched by consultants or of overpriced services -- as when one lawyer paid a consultant (not at Litigation Sciences) $70,000 to interview a jury after a big trial and later read more informative interviews with the same jurors in The American Lawyer magazine.@@@@1@51@@oe@2-2-2013
21267102@unknown@formal@none@1@S@Some litigators scoff at the notion that a sociologist knows more than they do about what makes a jury tick.@@@@1@20@@oe@2-2-2013
21267103@unknown@formal@none@1@S@"The essence of being a trial lawyer is understanding how people of diverse backgrounds react to you and your presentation," says Barry Ostrager of Simpson Thacher & Bartlett, who recently won a huge case on behalf of insurers against Shell Oil Co.@@@@1@42@@oe@2-2-2013
21267104@unknown@formal@none@1@S@He says he used consultants in the case but "found them to be virtually useless."@@@@1@15@@oe@2-2-2013
21267105@unknown@formal@none@1@S@But most lawyers accept that the marketplace has spoken.@@@@1@9@@oe@2-2-2013
21267106@unknown@formal@none@1@S@And the question remains whether the jury system can maintain its integrity while undergoing such a skillful massage.@@@@1@18@@oe@2-2-2013
21267107@unknown@formal@none@1@S@For more than a decade, Mr. Etzioni, the sociologist, has been a leading critic of the masseurs.@@@@1@17@@oe@2-2-2013
21267108@unknown@formal@none@1@S@"There's no reason to believe that juries rule inappropriately," he says.@@@@1@11@@oe@2-2-2013
21267109@unknown@formal@none@1@S@"But the last thing you want to do is manipulate the subconscious to make them think better.@@@@1@17@@oe@2-2-2013
21267110@unknown@formal@none@1@S@What you then do is you make them think inappropriately."@@@@1@10@@oe@2-2-2013
21267111@unknown@formal@none@1@S@To hamper the work of litigation scientists, he suggests that courts sharply limit the number of jurors that lawyers can remove from the jury panel through so-called peremptory challenges -- exclusions that don't require explanations.@@@@1@35@@oe@2-2-2013
21267112@unknown@formal@none@1@S@In most civil cases, judges allow each side three such challenges.@@@@1@11@@oe@2-2-2013
21267113@unknown@formal@none@1@S@For complex cases, judges sometimes allow many more.@@@@1@8@@oe@2-2-2013
21267114@unknown@formal@none@1@S@Mr. Etzioni also suggests forbidding anyone from gathering background information about the jurors.@@@@1@13@@oe@2-2-2013
21267115@unknown@formal@none@1@S@(Some courts release names and addresses, and researchers can drive by houses, look up credit ratings, and even question neighbors.)@@@@1@20@@oe@2-2-2013
21267116@unknown@formal@none@1@S@Furthermore, he says, psychologists should not be allowed to analyze jurors' personalities.@@@@1@12@@oe@2-2-2013
21267117@unknown@formal@none@1@S@Even some lawyers who have used consultants to their advantage see a need to limit their impact.@@@@1@17@@oe@2-2-2013
21267118@unknown@formal@none@1@S@Mr. Boies, the first lawyer to use Mr. Vinson's services, cautions against courts' allowing extensive jury questioning (known as voir dire) or giving out personal information about the jurors.@@@@1@29@@oe@2-2-2013
21267119@unknown@formal@none@1@S@"The more extensive the voir dire, the easier you make it for that kind of research to be effective, and I don't think courts should lend themselves to that," Mr. Boies says.@@@@1@32@@oe@2-2-2013
21268001@unknown@formal@none@1@S@Silicon Graphics Inc., a fast-growing maker of computer workstations, said it landed two federal government contracts worth more than $100 million over the next five years.@@@@1@26@@oe@2-2-2013
21268002@unknown@formal@none@1@S@One award is part of a Department of Defense contract to Loral Rolm Mil-Spec Computers and could be valued at more than $100 million over five years.@@@@1@27@@oe@2-2-2013
21268003@unknown@formal@none@1@S@The other involves the sale of about 35 of the company's high-end workstations to the National Institutes of Health.@@@@1@19@@oe@2-2-2013
21268004@unknown@formal@none@1@S@The models, which cost about $75,000 each, will be used in research.@@@@1@12@@oe@2-2-2013
21268005@unknown@formal@none@1@S@The awards are evidence that Silicon Graphics' approach to computer graphics is catching on with users of powerful desktop computers, analysts said.@@@@1@22@@oe@2-2-2013
21268006@unknown@formal@none@1@S@"The company's on a roll," said Robert Herwick, an analyst at Hambrecht & Quist.@@@@1@14@@oe@2-2-2013
21268007@unknown@formal@none@1@S@"No other {computer} vendor offers graphics performance that good for their price."@@@@1@12@@oe@2-2-2013
21268008@unknown@formal@none@1@S@In the battle to supply desktop computers for researchers and design engineers, most of the attention is given to the biggest competitors: Sun Microsystems Inc., Hewlett-Packard Co. and Digital Equipment Corp., which make computers mainly aimed at a wide range of engineering and scientific needs.@@@@1@45@@oe@2-2-2013
21268009@unknown@formal@none@1@S@Silicon Graphics, on the other hand, has targeted a specific niche since its inception in 1982, which has been dubbed by some as "motion-picture computing."@@@@1@25@@oe@2-2-2013
21268010@unknown@formal@none@1@S@This is a style of "visual" computing that provides three-dimensional, color models of everything from the inside of a house to the latest in women's fashion.@@@@1@26@@oe@2-2-2013
21268011@unknown@formal@none@1@S@Though Silicon Graphics is much smaller than Digital, Hewlett and Sun, it has emerged in recent years as a feared adversary in this graphics portion of the workstation market.@@@@1@29@@oe@2-2-2013
21268012@unknown@formal@none@1@S@In addition, the company has made it tough on competitors by offering a stream of desktop computers at sharply lower prices.@@@@1@21@@oe@2-2-2013
21268013@unknown@formal@none@1@S@A year ago, Silicon Graphics introduced a model priced at $15,000 -- almost as cheap as mainstream workstations that don't offer special graphics features.@@@@1@24@@oe@2-2-2013
21268014@unknown@formal@none@1@S@Silicon Graphics also plans to unveil even less expensive machines in the near future.@@@@1@14@@oe@2-2-2013
21268015@unknown@formal@none@1@S@"It's pretty safe to assume we can bring the cost down of these systems by 30% to 40% a year," said Edward McCracken, the company's chief executive officer.@@@@1@28@@oe@2-2-2013
21268016@unknown@formal@none@1@S@Silicon Graphics' strategy seems to be paying off.@@@@1@8@@oe@2-2-2013
21268017@unknown@formal@none@1@S@Revenue for its first quarter ended Sept. 30 was $86.4 million, a 95% increase over the year-ago period.@@@@1@18@@oe@2-2-2013
21268018@unknown@formal@none@1@S@Profit was $5.2 million, compared with $1 million for the year-ago quarter.@@@@1@12@@oe@2-2-2013
21269001@unknown@formal@none@1@S@Remember those bulky, thick-walled refrigerators of 30 years ago?@@@@1@9@@oe@2-2-2013
21269002@unknown@formal@none@1@S@They, or at least something less efficient than today's thin-walled units, may soon be making a comeback.@@@@1@17@@oe@2-2-2013
21269003@unknown@formal@none@1@S@That something, whatever it is, could add as much as $100 to the $600 or so consumers now pay for lower-priced refrigerators.@@@@1@22@@oe@2-2-2013
21269004@unknown@formal@none@1@S@These and other expensive changes in products ranging from auto air conditioners to foam cushioning to commercial solvents are in prospect because of something called the Montreal Protocol, signed by 24 nations in 1987.@@@@1@34@@oe@2-2-2013
21269005@unknown@formal@none@1@S@In one of the most sweeping environmental regulatory efforts to date -- involving products with an annual value of $135 billion in the U.S. alone -- the signatories agreed to curtail sharply the use of chlorofluorocarbons (CFCs).@@@@1@37@@oe@2-2-2013
21269006@unknown@formal@none@1@S@World-wide production would be cut in half by 1998.@@@@1@9@@oe@2-2-2013
21269007@unknown@formal@none@1@S@The U.S. Senate liked the treaty so well it ratified it by a vote of 89 to 0.@@@@1@18@@oe@2-2-2013
21269008@unknown@formal@none@1@S@Not to be outdone, George Bush wants CFCs banished altogether by the year 2000, a goal endorsed at an 80-nation U.N. environmental meeting in Helsinki in the spring.@@@@1@28@@oe@2-2-2013
21269009@unknown@formal@none@1@S@That's a lot of banishment, as it turns out.@@@@1@9@@oe@2-2-2013
21269010@unknown@formal@none@1@S@CFCs are the primary ingredient in a gas, often referred to by the Du Pont trade name Freon, which is compressed to liquid form to serve as the cooling agent in refrigeration and air-conditioning equipment.@@@@1@35@@oe@2-2-2013
21269011@unknown@formal@none@1@S@Gases containing CFCs are pumped into polyurethane to make the foam used in pillows, upholstery and insulation.@@@@1@17@@oe@2-2-2013
21269012@unknown@formal@none@1@S@Polyurethane foam is a highly efficient insulator, which accounts for why the walls of refrigerators and freezers can be thinner now than they were back in the days when they were insulated with glass fiber.@@@@1@35@@oe@2-2-2013
21269013@unknown@formal@none@1@S@But even though by some estimates it might cost the world as much as $100 billion between now and the year 2000 to convert to other coolants, foaming agents and solvents and to redesign equipment for these less efficient substitutes, the Montreal Protocol's legions of supporters say it is worth it.@@@@1@51@@oe@2-2-2013
21269014@unknown@formal@none@1@S@They insist that CFCs are damaging the earth's stratospheric ozone layer, which screens out some of the sun's ultraviolet rays.@@@@1@20@@oe@2-2-2013
21269015@unknown@formal@none@1@S@Hence, as they see it, if something isn't done earthlings will become ever more subject to sunburn and skin cancer.@@@@1@20@@oe@2-2-2013
21269016@unknown@formal@none@1@S@Peter Teagan, a specialist in heat transfer, is running a project at Arthur D. Little Inc., of Cambridge, Mass., to find alternative technologies that will allow industry to eliminate CFCs.@@@@1@30@@oe@2-2-2013
21269017@unknown@formal@none@1@S@In addition to his interest in ozone depletion he has extensively studied the related topic of global warming, a theory that mankind's generation of carbon dioxide through increased combustion of fossil fuels is creating a "greenhouse effect" that will work important climatic changes in the earth's atmosphere over time.@@@@1@49@@oe@2-2-2013
21269018@unknown@formal@none@1@S@"I would be the first to admit that there is not a complete consensus in the scientific community on either one of these problems," says Mr. Teagan.@@@@1@27@@oe@2-2-2013
21269019@unknown@formal@none@1@S@"In the kind of literature I read I come across countervailing opinions quite frequently.@@@@1@14@@oe@2-2-2013
21269020@unknown@formal@none@1@S@But the nature of the problem is such that many others feel it has to be addressed soon, before all the evidence is in.@@@@1@24@@oe@2-2-2013
21269021@unknown@formal@none@1@S@We can't afford to wait."@@@@1@5@@oe@2-2-2013
21269022@unknown@formal@none@1@S@But does it have to be so soon?@@@@1@8@@oe@2-2-2013
21269023@unknown@formal@none@1@S@Some atmospheric scientists think that even if CFCs were released into the atmosphere at an accelerating rate, the amount of ozone depletion would be only 10% by the middle of the next century.@@@@1@33@@oe@2-2-2013
21269024@unknown@formal@none@1@S@It's easy to get something comparable by simply moving to a higher altitude in the U.S.@@@@1@16@@oe@2-2-2013
21269025@unknown@formal@none@1@S@Moreover, there are questions, particularly among atmospheric scientists who know this subject best, about the ability of anyone to know what in fact is happening to the ozone layer.@@@@1@29@@oe@2-2-2013
21269026@unknown@formal@none@1@S@It is generally agreed that when CFCs rise from earth to stratosphere, the chlorine in them is capable of interfering with the process through which ultraviolet rays split oxygen molecules and form ozone.@@@@1@33@@oe@2-2-2013
21269027@unknown@formal@none@1@S@But ozone creation is a very large-scale natural process and the importance of human-generated CFCs in reducing it is largely a matter of conjecture.@@@@1@24@@oe@2-2-2013
21269028@unknown@formal@none@1@S@The ozone layer is constantly in motion and thus very hard to measure.@@@@1@13@@oe@2-2-2013
21269029@unknown@formal@none@1@S@What scientists have known since the late 1970s is that there is a hole in the layer over Antarctica that expands or contracts from year to year.@@@@1@27@@oe@2-2-2013
21269030@unknown@formal@none@1@S@But it is at least worthy of some note that there are very few refrigerators in Antarctica.@@@@1@17@@oe@2-2-2013
21269031@unknown@formal@none@1@S@Moreover, surely someone has noticed that household refrigerators are closed systems, running for many years without either the CFC gas or the insulation ever escaping.@@@@1@25@@oe@2-2-2013
21269032@unknown@formal@none@1@S@Another argument of the environmentalists is that if substitutes are available, why not use them?@@@@1@15@@oe@2-2-2013
21269033@unknown@formal@none@1@S@Mr. Teagan cites a list of substitutes but none, so far, match the nonflammable, nontoxic CFCs.@@@@1@16@@oe@2-2-2013
21269034@unknown@formal@none@1@S@Butane and propane can be used as coolants, for example, but are flammable.@@@@1@13@@oe@2-2-2013
21269035@unknown@formal@none@1@S@Moreover, new lubricants will be needed to protect compressors from the new formulations, which, as with CFCs, are solvents.@@@@1@19@@oe@2-2-2013
21269036@unknown@formal@none@1@S@Mr. Teagan points out as well that if the equipment designed to get along without CFCs is less efficient than current devices, energy consumption will rise and that will worsen the greenhouse effect.@@@@1@33@@oe@2-2-2013
21269037@unknown@formal@none@1@S@Folks in the Midwest who just suffered a mid-October snowstorm may wonder where the greenhouse was when they needed it, but let's not be flippant about grave risks.@@@@1@28@@oe@2-2-2013
21269038@unknown@formal@none@1@S@As it happens, Arthur D. Little is not at all interested in throwing cold water on ozone depletion and global warming theories.@@@@1@22@@oe@2-2-2013
21269039@unknown@formal@none@1@S@It is interested in making some money advising industry on how to convert to a world without CFCs.@@@@1@18@@oe@2-2-2013
21269040@unknown@formal@none@1@S@There is, after all, big money in environmentalism.@@@@1@8@@oe@2-2-2013
21269041@unknown@formal@none@1@S@Maybe we should ask why it was that Du Pont so quickly capitulated and issued a statement, giving it wide publicity, that it was withdrawing CFCs.@@@@1@26@@oe@2-2-2013
21269042@unknown@formal@none@1@S@Freon, introduced in 1930, revolutionized America by making refrigeration and air conditioning practical after all.@@@@1@15@@oe@2-2-2013
21269043@unknown@formal@none@1@S@One answer is that big companies are growing weary of fighting environmental movements and are trying instead to cash in on them, although they never care to put it quite that way.@@@@1@32@@oe@2-2-2013
21269044@unknown@formal@none@1@S@Du Pont, as it happens, has a potential substitute for CFCs.@@@@1@11@@oe@2-2-2013
21269045@unknown@formal@none@1@S@Imperial Chemical Industries of the U.K. also has one, and is building a plant in Louisiana to produce it.@@@@1@19@@oe@2-2-2013
21269046@unknown@formal@none@1@S@Japanese chemical companies are at work developing their own substitutes and hoping to conquer new markets, of course.@@@@1@18@@oe@2-2-2013
21269047@unknown@formal@none@1@S@There are still others who don't mind seeing new crises arise.@@@@1@11@@oe@2-2-2013
21269048@unknown@formal@none@1@S@Environmental groups would soon go out of business were they not able to send out mailings describing the latest threat and asking for money to fight it.@@@@1@27@@oe@2-2-2013
21269049@unknown@formal@none@1@S@University professors and consultants with scientific credentials saw a huge market for their services evaporate when price decontrol destroyed the energy crisis and thus the demand for "alternative energy."@@@@1@29@@oe@2-2-2013
21269050@unknown@formal@none@1@S@They needed new crises to generate new grants and contracts.@@@@1@10@@oe@2-2-2013
21269051@unknown@formal@none@1@S@In other words, environmentalism has created a whole set of vested interests that fare better when there are many problems than when there are few.@@@@1@25@@oe@2-2-2013
21269052@unknown@formal@none@1@S@That tends to tilt the public debate toward "solutions" even when some of the most knowledgeable scientists are skeptical about the seriousness of the threats and the insistence of urgency.@@@@1@30@@oe@2-2-2013
21269053@unknown@formal@none@1@S@There is an element of make-work involved.@@@@1@7@@oe@2-2-2013
21269054@unknown@formal@none@1@S@Consumers pay the bill for all this in the price of a refrigerator or an air-conditioned car.@@@@1@17@@oe@2-2-2013
21269055@unknown@formal@none@1@S@If they were really getting insurance against environmental disaster, the price would be cheap.@@@@1@14@@oe@2-2-2013
21269056@unknown@formal@none@1@S@But if there is no impending threat, it can get to be very expensive.@@@@1@14@@oe@2-2-2013
21270001@unknown@formal@none@1@S@but worries about 1990.@@@@1@4@@oe@2-2-2013
21270002@unknown@formal@none@1@S@With most legislatures adjourned for the year, small business is tallying its scorecard.@@@@1@13@@oe@2-2-2013
21270003@unknown@formal@none@1@S@Much of its attention was spent fighting organized labor's initiatives on issues the small-business community traditionally opposes -- from raising state minimum wage levels to mandating benefits in health plans.@@@@1@30@@oe@2-2-2013
21270004@unknown@formal@none@1@S@While results were mixed in many states, "small business got by fairly well," concludes Don L. Robinson, associate director of the National Federation of Independent Business, the largest small-business organization.@@@@1@30@@oe@2-2-2013
21270005@unknown@formal@none@1@S@Five states -- Oregon, Rhode Island, New Hampshire, Iowa and Wisconsin -- passed bills to boost the minimum wage, but measures in 19 other states were defeated.@@@@1@27@@oe@2-2-2013
21270006@unknown@formal@none@1@S@Oregon's rate will rise to $4.75 an hour, the nation's highest, in Jan. 1, 1991.@@@@1@15@@oe@2-2-2013
21270007@unknown@formal@none@1@S@Iowa's will be the second highest -- at $4.65 an hour in January 1992 -- but small-business lobbyists won an exclusion for tiny concerns and a lower training rate.@@@@1@29@@oe@2-2-2013
21270008@unknown@formal@none@1@S@In 17 central states, one small-business count shows lawmakers adopted only three of 46 bills mandating health coverage or parental leave.@@@@1@21@@oe@2-2-2013
21270009@unknown@formal@none@1@S@The Illinois Legislature narrowly passed a parental-leave bill, which Gov. James Thompson vetoed, and Iowa and Tennessee amended laws to require that employers pay for breast-cancer exams.@@@@1@27@@oe@2-2-2013
21270010@unknown@formal@none@1@S@Small business is bracing for an avalanche of similar proposals next year.@@@@1@12@@oe@2-2-2013
21270011@unknown@formal@none@1@S@"Those kinds of issues always keep coming back," says Robert Beckwith, who manages the Illinois Chamber of Commerce's small-business office.@@@@1@20@@oe@2-2-2013
21270012@unknown@formal@none@1@S@DESPITE VICTORIES this year, small business fears losing parental-leave war.@@@@1@10@@oe@2-2-2013
21270013@unknown@formal@none@1@S@Only two states -- Vermont and Washington -- this year joined five others requiring private employers to grant leaves of absence to employees with newborn or adopted infants.@@@@1@28@@oe@2-2-2013
21270014@unknown@formal@none@1@S@Similar proposals were defeated in at least 15 other states.@@@@1@10@@oe@2-2-2013
21270015@unknown@formal@none@1@S@But small business, which generally detests government-mandated benefits, has taken note of the growing number of close votes.@@@@1@18@@oe@2-2-2013
21270016@unknown@formal@none@1@S@"It's just a matter of time before the tide turns," says one Midwestern lobbyist.@@@@1@14@@oe@2-2-2013
21270017@unknown@formal@none@1@S@Consequently, small business is taking more "pro-active" steps to counter mandated leaves.@@@@1@12@@oe@2-2-2013
21270018@unknown@formal@none@1@S@In Pennsylvania, small businesses are pushing for a voluntary alternative; they favor a commission that would develop sample leave policies that employers could adopt.@@@@1@24@@oe@2-2-2013
21270019@unknown@formal@none@1@S@They also support a tax credit for employers to offset the cost of hiring and training workers who temporarily replace employees on parental leave.@@@@1@24@@oe@2-2-2013
21270020@unknown@formal@none@1@S@In 1990, the issue is expected to be especially close in Alaska, California, Michigan, New York, Pennsylvania and Illinois.@@@@1@19@@oe@2-2-2013
21270021@unknown@formal@none@1@S@"We'll be playing a lot of defense, especially in the Midwest and Northeast," says Jim Buente of the NFIB.@@@@1@19@@oe@2-2-2013
21270022@unknown@formal@none@1@S@IN LOS ANGELES, more small businesses ponder adopting a child-care policy.@@@@1@11@@oe@2-2-2013
21270023@unknown@formal@none@1@S@Triggering the re-examination is a recent city council decision to give preference in letting city contracts to suppliers with a stated policy on child care for their employees.@@@@1@28@@oe@2-2-2013
21270024@unknown@formal@none@1@S@The preferential treatment even applies to awarding small contracts under $25,000 and consulting and temporary services -- which often go to the smaller concerns.@@@@1@24@@oe@2-2-2013
21270025@unknown@formal@none@1@S@Firms are permitted wide flexibility in the child-care arrangements they provide.@@@@1@11@@oe@2-2-2013
21270026@unknown@formal@none@1@S@Council member Joy Picus, the measure's chief advocate, considers it part of a "pro-family policy" that makes Los Angeles a leader in "humanizing the workplace."@@@@1@25@@oe@2-2-2013
21270027@unknown@formal@none@1@S@NOVEMBER BALLOTS will contain few referendum or initiative issues that especially affect small business.@@@@1@14@@oe@2-2-2013
21270028@unknown@formal@none@1@S@In San Francisco, small businesses are urging passage of a local initiative to build a new $95 million downtown baseball stadium; they believe it will spur retail sales and hotel-restaurant business.@@@@1@31@@oe@2-2-2013
21270029@unknown@formal@none@1@S@But in Washington state, small business generally opposes an initiative to boost spending on children's programs by $360 million, fearing the state's 7.8% sales tax will be raised to finance the outlays.@@@@1@32@@oe@2-2-2013
21270030@unknown@formal@none@1@S@DIALING DOLLARS:@@@@1@2@@oe@2-2-2013
21270031@unknown@formal@none@1@S@Small businesses in suburban Chicago are discovering that an area-code switch Nov. 11 -- to 708 from the familiar 312 -- won't be without some costs as they alter stationery, among other things, and notify customers.@@@@1@36@@oe@2-2-2013
21270032@unknown@formal@none@1@S@Wessels & Pautsch, a small St. Charles law firm, plans to mail 500 customers a list of its lawyers' new phone and fax numbers as well as updated Rolodex cards.@@@@1@30@@oe@2-2-2013
21270033@unknown@formal@none@1@S@But many owners plan to practice frugality -- crossing out the old code and writing in the new one until their stock runs out.@@@@1@24@@oe@2-2-2013
21270034@unknown@formal@none@1@S@Even print-shop operator Clay Smith of Naperville won't discard his old supply.@@@@1@12@@oe@2-2-2013
21270035@unknown@formal@none@1@S@(He reports his business is up slightly from customers replacing old stock.)@@@@1@12@@oe@2-2-2013
21270036@unknown@formal@none@1@S@CALIFORNIA, A TREND-SETTER in franchising rules, stirs a controversy.@@@@1@9@@oe@2-2-2013
21270037@unknown@formal@none@1@S@With some new rules, state officials say they made it easier -- and faster -- to sell new franchises whose terms stray from those in state-registered contracts.@@@@1@27@@oe@2-2-2013
21270038@unknown@formal@none@1@S@Previously, regulators insisted that franchisers pre-register such changes with the state -- a costly process taking at least six weeks.@@@@1@20@@oe@2-2-2013
21270039@unknown@formal@none@1@S@Now some negotiated sales that meet a series of tests don't have to be pre-registered.@@@@1@15@@oe@2-2-2013
21270040@unknown@formal@none@1@S@For instance, franchisers no longer must pre-register sales to aspiring franchisees who qualify as "sophisticated purchasers."@@@@1@16@@oe@2-2-2013
21270041@unknown@formal@none@1@S@Such buyers must have a minimum net worth of $1 million, $200,000 annual income, or recent experience in the business area of the franchise being sold.@@@@1@26@@oe@2-2-2013
21270042@unknown@formal@none@1@S@But critics consider the changes regressive.@@@@1@6@@oe@2-2-2013
21270043@unknown@formal@none@1@S@Lewis G. Rudnick, a Chicago lawyer who represents franchisers, contends California is narrowly limiting -- rather than expanding -- opportunities for negotiating sales.@@@@1@23@@oe@2-2-2013
21270044@unknown@formal@none@1@S@He argues California regulators historically have misinterpreted their law -- and he says negotiated sales that aren't pre-registered have been legal all along.@@@@1@23@@oe@2-2-2013
21270045@unknown@formal@none@1@S@San Francisco lawyer Timothy H. Fine, who represents franchisees, insists California's cautiousness helps protect franchisees from crafty sales negotiators who push unlawful clauses.@@@@1@23@@oe@2-2-2013
21270046@unknown@formal@none@1@S@SMALL TALK:@@@@1@2@@oe@2-2-2013
21270047@unknown@formal@none@1@S@A new Maryland law frees store owners of liability if a customer trips or otherwise gets hurt on the way to the restroom. . . .@@@@1@26@@oe@2-2-2013
21270048@unknown@formal@none@1@S@Only 4% of Missouri small businesses surveyed say they've tested an employee or applicant for drug or alcohol use. . . .@@@@1@22@@oe@2-2-2013
21270049@unknown@formal@none@1@S@By 52%-36%, Tennessee NFIB members favor laws to limit foreign ownership of land and facilities in the state.@@@@1@18@@oe@2-2-2013
21271001@unknown@formal@none@1@S@About 400,000 commuters trying to find their way through the Bay area's quake-torn transportation system wedged cheek-to-jowl into subways, sat in traffic jams on major freeways or waited forlornly for buses yesterday.@@@@1@32@@oe@2-2-2013
21271002@unknown@formal@none@1@S@In other words, it was a better-than-average Manhattan commute.@@@@1@9@@oe@2-2-2013
21271003@unknown@formal@none@1@S@City officials feared widespread gridlock on the first day that normal business operations were resumed following last Tuesday's earthquake.@@@@1@19@@oe@2-2-2013
21271004@unknown@formal@none@1@S@The massive temblor, which killed at least 61 people, severed the Bay Bridge, a major artery to the east, and closed most ramps leading to and from Highway 101, the biggest artery to the south.@@@@1@35@@oe@2-2-2013
21271005@unknown@formal@none@1@S@It will take several weeks to repair the bridge, and several months to repair some of the 101 connections.@@@@1@19@@oe@2-2-2013
21271006@unknown@formal@none@1@S@But in spite of a wind-driven rainstorm, gridlock never materialized, mainly because the Bay Area Rapid Transit subway system carried 50% more passengers than normal.@@@@1@25@@oe@2-2-2013
21271007@unknown@formal@none@1@S@For the first time in memory, it was standing-room only in BART's sleek, modern railcars.@@@@1@15@@oe@2-2-2013
21271008@unknown@formal@none@1@S@Moreover, the two main bridges still connecting San Francisco with the East Bay didn't charge tolls, allowing traffic to zip through without stopping.@@@@1@23@@oe@2-2-2013
21271009@unknown@formal@none@1@S@Officials also suspect that traffic benefited from steps by major employers to get workers to come in at odd hours, or that many workers are still staying at home.@@@@1@29@@oe@2-2-2013
21271010@unknown@formal@none@1@S@Many commuters who normally drove across the Bay Bridge, which is shut down for several weeks because of damage to one span, actually may have reached work a bit faster on BART yesterday, provided they could find a parking space at the system's jammed stations.@@@@1@45@@oe@2-2-2013
21271011@unknown@formal@none@1@S@In the best of times, the Bay Bridge is the worst commute in the region, often experiencing back-ups of 20 to 30 minutes or more.@@@@1@25@@oe@2-2-2013
21271012@unknown@formal@none@1@S@Not that getting into town was easy.@@@@1@7@@oe@2-2-2013
21271013@unknown@formal@none@1@S@Storm flooding caused back-ups on the freeway, and many commuters had to find rides to BART's stations, because parking lots were full before dawn.@@@@1@24@@oe@2-2-2013
21271014@unknown@formal@none@1@S@Bus schedules were sometimes in disarray, stranding commuters such as Marilyn Sullivan.@@@@1@12@@oe@2-2-2013
21271015@unknown@formal@none@1@S@Her commute from Petaluma, Calif., normally takes an hour and 15 minutes, via the Golden Gate Bridge, which connects San Francisco with the North Bay area.@@@@1@26@@oe@2-2-2013
21271016@unknown@formal@none@1@S@Yesterday, she was still waiting at a bus stop after three hours, trying to transfer to a bus going to the financial district.@@@@1@23@@oe@2-2-2013
21271017@unknown@formal@none@1@S@"It's worse than I thought," she said.@@@@1@7@@oe@2-2-2013
21271018@unknown@formal@none@1@S@"I don't know where all the buses are."@@@@1@8@@oe@2-2-2013
21271019@unknown@formal@none@1@S@But while traffic was heavy early in the commute over the Golden Gate, by 8 a.m. it already had thinned out.@@@@1@21@@oe@2-2-2013
21271020@unknown@formal@none@1@S@"It's one of the smoothest commutes I've ever had," said Charles Catania, an insurance broker on the bus from Mill Valley in Marin County.@@@@1@24@@oe@2-2-2013
21271021@unknown@formal@none@1@S@"It looks like a holiday.@@@@1@5@@oe@2-2-2013
21271022@unknown@formal@none@1@S@I think a lot of people got scared and stayed home."@@@@1@11@@oe@2-2-2013
21271023@unknown@formal@none@1@S@However, a spokeswoman for BankAmerica Corp. said yesterday's absenteeism at the bank holding company was no greater than on an average day.@@@@1@22@@oe@2-2-2013
21271024@unknown@formal@none@1@S@At the San Mateo Bridge, which connects the San Francisco peninsula with the East Bay, police were surprised at the speed with which traffic moved.@@@@1@25@@oe@2-2-2013
21271025@unknown@formal@none@1@S@"Everybody pretty much pitched in and cooperated," said Stan Perez, a sergeant with the California Highway Patrol.@@@@1@17@@oe@2-2-2013
21271026@unknown@formal@none@1@S@There were many indications that the new work hours implemented by major corporations played a big role.@@@@1@17@@oe@2-2-2013
21271027@unknown@formal@none@1@S@The Golden Gate handled as many cars as normally yesterday, but over four hours rather than the usual two-hour crush.@@@@1@20@@oe@2-2-2013
21271028@unknown@formal@none@1@S@Bechtel Group Inc., the giant closely held engineering concern, says it has instituted a 6 a.m. to 8 p.m. flextime arrangement, whereby employees may select any eight-hour period during those hours to go to work.@@@@1@35@@oe@2-2-2013
21271029@unknown@formal@none@1@S@Of Bechtel's 17,500 employees, about 4,000 work in San Francisco -- one-third of them commuting from stricken East Bay.@@@@1@19@@oe@2-2-2013
21271030@unknown@formal@none@1@S@Pacific Gas & Electric Co. is offering its 6,000 San Francisco employees a two-tier flextime schedule -- either 6 a.m. to 2 p.m. or 10 a.m. to 6 p.m.@@@@1@29@@oe@2-2-2013
21271031@unknown@formal@none@1@S@The flextime may cut by almost a third the number of PG&E employees working conventional 9-5 hours, a spokesman says.@@@@1@20@@oe@2-2-2013
21271032@unknown@formal@none@1@S@Some of the utility's employees may opt for a four-day workweek, 10 hours a day, to cut the commute by 20%.@@@@1@21@@oe@2-2-2013
21271033@unknown@formal@none@1@S@At Pacific Telesis Group, flextime is left up to individual working groups, because some of the telephone company's employees must be on-site during normal business hours, a spokeswoman says.@@@@1@29@@oe@2-2-2013
21271034@unknown@formal@none@1@S@Some individuals went to some lengths on their own to avoid the anticipated gridlock.@@@@1@14@@oe@2-2-2013
21271035@unknown@formal@none@1@S@One senior vice president at Bechtel said he got up at 3 a.m. to drive into San Francisco from the East Bay.@@@@1@22@@oe@2-2-2013
21271036@unknown@formal@none@1@S@But transportation officials worry that such extraordinary measures and cooperation may not last.@@@@1@13@@oe@2-2-2013
21271037@unknown@formal@none@1@S@Although one transportation official said drivers who didn't use car pools were committing "an anti-social act," about two-thirds of the motorists crossing the Golden Gate were alone, compared with the normal 70% rate.@@@@1@33@@oe@2-2-2013
21271038@unknown@formal@none@1@S@And some commuters, relieved by the absence of gridlock, were planning to return to their old ways.@@@@1@17@@oe@2-2-2013
21272001@unknown@formal@none@1@S@Garry Kasparov went to combat Sunday with the world's most advanced chess computer and kicked it around -- symbolically, anyway -- like an old tin can.@@@@1@26@@oe@2-2-2013
21272002@unknown@formal@none@1@S@Playing black in the first game, the human champion maneuvered Deep Thought, known for its attacking prowess, into a totally passive position.@@@@1@22@@oe@2-2-2013
21272003@unknown@formal@none@1@S@Then he unleashed his own, unstoppable, attack.@@@@1@7@@oe@2-2-2013
21272004@unknown@formal@none@1@S@And in the second game, with Mr. Kasparov advancing ferociously as white, D.T. offered feeble resistance and lost even faster.@@@@1@20@@oe@2-2-2013
21272005@unknown@formal@none@1@S@Well, mankind can rest easier for now.@@@@1@7@@oe@2-2-2013
21272006@unknown@formal@none@1@S@Though almost everybody at the playing site had been looking for the 26-year-old Soviet to beat the Pennsylvania-based computer, he gave the machine a far worse drubbing than many expected.@@@@1@30@@oe@2-2-2013
21272007@unknown@formal@none@1@S@And when Mr. Kasparov strode into the playing hall, he called the outcome.@@@@1@13@@oe@2-2-2013
21272008@unknown@formal@none@1@S@As if he were Iron Mike, about to enter the ring with a 98-pound weakling, he declared: "I'll be able to beat any computer for the next five years."@@@@1@29@@oe@2-2-2013
21272009@unknown@formal@none@1@S@His strategy against D.T. was based on a thorough study of dozens of its games, he said, including its notorious whippings of the grandmasters Bent Larsen of Denmark and Robert Byrne of the U.S.@@@@1@34@@oe@2-2-2013
21272010@unknown@formal@none@1@S@Mr. Kasparov was underwhelmed.@@@@1@4@@oe@2-2-2013
21272011@unknown@formal@none@1@S@"The computer's mind is too straight, too primitive," lacking the intuition and creativity needed to reach the top, he said.@@@@1@20@@oe@2-2-2013
21272012@unknown@formal@none@1@S@The champion apparently was not worried at all about D.T.'s strong points.@@@@1@12@@oe@2-2-2013
21272013@unknown@formal@none@1@S@Its chief builder, Taiwan-born Feng-hsiung Hsu, nicknamed his brainchild "the Weasel" for its tactical flair at wriggling out of horrible positions.@@@@1@21@@oe@2-2-2013
21272014@unknown@formal@none@1@S@D.T. also has a prodigious and flawless memory, is utterly fearless, and couldn't be distracted by the sexy nude sculptures spread around the playing hall, in the New York Academy of Art.@@@@1@32@@oe@2-2-2013
21272015@unknown@formal@none@1@S@In fact, D.T. never left home, Carnegie Mellon University in Pittsburgh, but communicated with its human handlers by telephone link.@@@@1@20@@oe@2-2-2013
21272016@unknown@formal@none@1@S@They conceded that the odds favored Mr. Kasparov, but they put their hope in D.T.'s recently enhanced capacity for examining positions -- up to a million per second, from 720,000.@@@@1@30@@oe@2-2-2013
21272017@unknown@formal@none@1@S@But the handlers mistakenly stuck with silicon chips; they needed kryptonite.@@@@1@11@@oe@2-2-2013
21272018@unknown@formal@none@1@S@This became apparent as game one, a Sicilian Defense by Mr. Kasparov, proceeded.@@@@1@13@@oe@2-2-2013
21272019@unknown@formal@none@1@S@No human can examine millions of moves, but Mr. Kasparov, using his ineffably powerful brain, consistently found very good ones.@@@@1@20@@oe@2-2-2013
21272020@unknown@formal@none@1@S@After eight moves by each side, the board was the same as in a game in which Nigel Short of Great Britain fought the champion to a draw in 1980.@@@@1@30@@oe@2-2-2013
21272021@unknown@formal@none@1@S@But the computer didn't play Mr. Short's ninth move, a key pawn thrust, and its position deteriorated rapidly.@@@@1@18@@oe@2-2-2013
21272022@unknown@formal@none@1@S@Instead of castling, a standard measure to safeguard the king, D.T. made a second-rate rook maneuver at move 13; then it put a knight offside on move 16.@@@@1@28@@oe@2-2-2013
21272023@unknown@formal@none@1@S@"Only two classes of minds would think of this -- very weak human players, and computers," said Edmar Mednis, the expert commentator for the match, which was attended by hundreds of chess fans.@@@@1@33@@oe@2-2-2013
21272024@unknown@formal@none@1@S@By move 21, D.T. had fallen into a deep positional trap.@@@@1@11@@oe@2-2-2013
21272025@unknown@formal@none@1@S@It allowed Mr. Kasparov to exchange his dark-squared bishop for one of D.T.'s knights.@@@@1@14@@oe@2-2-2013
21272026@unknown@formal@none@1@S@Bishops usually are worth slightly more than knights, but in this case Mr. Kasparov was left with a very dangerous knight and D.T.'s surviving bishop was reduced to passivity.@@@@1@29@@oe@2-2-2013
21272027@unknown@formal@none@1@S@Indeed, it looked more like a pawn, a "tall pawn," as spectators snidely put it.@@@@1@15@@oe@2-2-2013
21272028@unknown@formal@none@1@S@Consistently, D.T. was over-optimistic about its chances, which it continually sized up, in numerical form.@@@@1@15@@oe@2-2-2013
21272029@unknown@formal@none@1@S@When most spectators thought its position hopeless, the computer thought it was only, in effect, one-half of a pawn down.@@@@1@20@@oe@2-2-2013
21272030@unknown@formal@none@1@S@Such evaluations met with derision, and kept the machine from resigning as soon as humans would have -- prompting more derision.@@@@1@21@@oe@2-2-2013
21272031@unknown@formal@none@1@S@While D.T. shuffled its king back and forth in a defensive crouch, Mr. Kasparov maneuvered the knight to a dominant outpost.@@@@1@21@@oe@2-2-2013
21272032@unknown@formal@none@1@S@He also launched a kingside storm, sacrificing a pawn to denude D.T.'s king.@@@@1@13@@oe@2-2-2013
21272033@unknown@formal@none@1@S@No amount of weasling could have saved this game for D.T.@@@@1@11@@oe@2-2-2013
21272034@unknown@formal@none@1@S@A piece down, the computer resigned.@@@@1@6@@oe@2-2-2013
21272035@unknown@formal@none@1@S@Now, with the crowd in the analysis room smelling figurative blood, the only question seemed to be how fast Mr. Kasparov could win game two.@@@@1@25@@oe@2-2-2013
21272036@unknown@formal@none@1@S@With the advantage of playing white (which moves first), Mr. Kasparov followed up cleverly against the computer's defense, a Queen's Gambit Accepted.@@@@1@22@@oe@2-2-2013
21272037@unknown@formal@none@1@S@As early as move six, Mr. Kasparov deviated from a well-known sequence of moves, developing a knight instead of making a standard bishop attack against the computer's advanced knight.@@@@1@29@@oe@2-2-2013
21272038@unknown@formal@none@1@S@This left the computer with a broader range of plausible replies -- and it immediately blundered by moving a queenside pawn, to the neglect of kingside development.@@@@1@27@@oe@2-2-2013
21272039@unknown@formal@none@1@S@"In a new position just after the opening, a computer will have serious problems," Mr. Kasparov said later.@@@@1@18@@oe@2-2-2013
21272040@unknown@formal@none@1@S@In such positions, he explained, "you have to create something new, and the computer isn't able to do that right now."@@@@1@21@@oe@2-2-2013
21272041@unknown@formal@none@1@S@After only 11 moves for each side, the computer's position was shaky.@@@@1@12@@oe@2-2-2013
21272042@unknown@formal@none@1@S@Greedily, it grabbed a pawn, at the cost of facing a brutal attack.@@@@1@13@@oe@2-2-2013
21272043@unknown@formal@none@1@S@And when a defensive move was called for, D.T. passed up an obvious pawn move and instead exposed its queen to immediate tactical threats.@@@@1@24@@oe@2-2-2013
21272044@unknown@formal@none@1@S@Mr. Kasparov remarked later that "even a weak club player" would have avoided the queen move.@@@@1@16@@oe@2-2-2013
21272045@unknown@formal@none@1@S@Now, after only a dozen moves, spectators were looking for a mating combination.@@@@1@13@@oe@2-2-2013
21272046@unknown@formal@none@1@S@On a demonstration board, emcee Shelby Lyman showed a quick kill initiated by a knight sacrifice; no spectator refuted this line of play.@@@@1@23@@oe@2-2-2013
21272047@unknown@formal@none@1@S@Mr. Kasparov's continuation was slower but, in the end, just as deadly.@@@@1@12@@oe@2-2-2013
21272048@unknown@formal@none@1@S@He won D.T.'s queen for two minor pieces and two pawns -- not enough compensation, in this position, to give the computer much hope.@@@@1@24@@oe@2-2-2013
21272049@unknown@formal@none@1@S@In a hopeless position, the computer resigned rather than make its 37th move.@@@@1@13@@oe@2-2-2013
21272050@unknown@formal@none@1@S@And Mr. Kasparov, to cheers and applause, marched back into the analysis room.@@@@1@13@@oe@2-2-2013
21272051@unknown@formal@none@1@S@"In both games I got exactly what I wanted," he said.@@@@1@11@@oe@2-2-2013
21272052@unknown@formal@none@1@S@What he had demonstrated, he added, is that there's more to chess than sheer calculation.@@@@1@15@@oe@2-2-2013
21272053@unknown@formal@none@1@S@Undeterred, D.T.'s handlers vowed to press on.@@@@1@7@@oe@2-2-2013
21272054@unknown@formal@none@1@S@Indeed, three of them will be building a successor machine for International Business Machines Corp.@@@@1@15@@oe@2-2-2013
21272055@unknown@formal@none@1@S@Promises Feng-hsiung Hsu: "In three years we'll mount a better challenge."@@@@1@11@@oe@2-2-2013
21272056@unknown@formal@none@1@S@Mr. Tannenbaum is a reporter in the Journal's New York bureau.@@@@1@11@@oe@2-2-2013
21273001@unknown@formal@none@1@S@Reaching for that extra bit of yield can be a big mistake -- especially if you don't understand what you're investing in.@@@@1@22@@oe@2-2-2013
21273002@unknown@formal@none@1@S@Just ask Richard Blumenfeld, a New Jersey dentist who considers himself "a reasonably sophisticated investor."@@@@1@15@@oe@2-2-2013
21273003@unknown@formal@none@1@S@In May 1986, Dr. Blumenfeld gave Merrill Lynch & Co. about $40,000 for a federally insured certificate of deposit offering an effective yield of more than 9%.@@@@1@27@@oe@2-2-2013
21273004@unknown@formal@none@1@S@"It was a time when interest rates came down very rapidly," Dr. Blumenfeld recalls.@@@@1@14@@oe@2-2-2013
21273005@unknown@formal@none@1@S@Yields on five-year CDs at major banks were averaging about 7.45%, and 10-year Treasury notes were paying less than 8%.@@@@1@20@@oe@2-2-2013
21273006@unknown@formal@none@1@S@The CD seemed like a great deal.@@@@1@7@@oe@2-2-2013
21273007@unknown@formal@none@1@S@But nearly 3 1/2 years later, Merrill says the investment is worth about $43,000 -- an amount that represents an annual return of just over 2% on Dr. Blumenfeld's $40,000.@@@@1@30@@oe@2-2-2013
21273008@unknown@formal@none@1@S@The problem is that the CD he bought for a retirement plan wasn't a plain vanilla CD.@@@@1@17@@oe@2-2-2013
21273009@unknown@formal@none@1@S@Instead, his Merrill broker put him in a zero-coupon CD, which is sold at a deep discount to its face value.@@@@1@21@@oe@2-2-2013
21273010@unknown@formal@none@1@S@The difference between the price and the face value payable at maturity is the investor's return.@@@@1@16@@oe@2-2-2013
21273011@unknown@formal@none@1@S@More important, the CD was purchased on the secondary, or resale, market.@@@@1@12@@oe@2-2-2013
21273012@unknown@formal@none@1@S@Because the CD had an effective yield of 13.4% when it was issued in 1984, and interest rates in general had declined sharply since then, part of the price Dr. Blumenfeld paid was a premium -- an additional amount on top of the CD's base value plus accrued interest that represented the CD's increased market value.@@@@1@56@@oe@2-2-2013
21273013@unknown@formal@none@1@S@Now the thrift that issued the CD is insolvent, and Dr. Blumenfeld has learned to his surprise that the premium isn't insured under federal deposit insurance.@@@@1@26@@oe@2-2-2013
21273014@unknown@formal@none@1@S@The tip-off came when he opened a recent Merrill Lynch statement and found that the CD's "estimated current market value" had plummeted by $9,000 in a month.@@@@1@27@@oe@2-2-2013
21273015@unknown@formal@none@1@S@Several phone calls and a visit to his broker's office later, the dentist found out that the $9,000 drop represented the current value of the premium he paid when he bought the CD, and that the amount wasn't insured.@@@@1@39@@oe@2-2-2013
21273016@unknown@formal@none@1@S@"This is one thing I was never aware of," he says.@@@@1@11@@oe@2-2-2013
21273017@unknown@formal@none@1@S@He assumed that principal and interest were "fully insured up to $100,000," he adds.@@@@1@14@@oe@2-2-2013
21273018@unknown@formal@none@1@S@Dr. Blumenfeld isn't unique.@@@@1@4@@oe@2-2-2013
21273019@unknown@formal@none@1@S@Especially at times like these, when declining rates make it hard for investors to get yields they have come to expect, too many people chase the promise of above-market returns without fully appreciating the risk.@@@@1@35@@oe@2-2-2013
21273020@unknown@formal@none@1@S@"Yield greed often gets in the way of understanding things," says John Markese, research director of the American Association of Individual Investors, a Chicago-based educational group.@@@@1@26@@oe@2-2-2013
21273021@unknown@formal@none@1@S@"The biggest problem we have is that investors realize, after the fact, that they didn't understand what they were investing in."@@@@1@21@@oe@2-2-2013
21273022@unknown@formal@none@1@S@Dr. Blumenfeld concedes he didn't fully understand what he was buying.@@@@1@11@@oe@2-2-2013
21273023@unknown@formal@none@1@S@He says that he knew he was getting a zero-coupon CD and that he had previously invested in TIGRs (Treasury Income Growth Receipts), a type of zero-coupon Treasury security sold by Merrill Lynch.@@@@1@33@@oe@2-2-2013
21273024@unknown@formal@none@1@S@But he says he didn't understand he was buying the CD on the secondary market, and he contends his broker never fully explained the risks.@@@@1@25@@oe@2-2-2013
21273025@unknown@formal@none@1@S@The broker, Thomas Beairsto of Merrill Lynch's Morristown, N.J., office, refuses to discuss the matter with a reporter, referring inquiries to Merrill Lynch officials in New York.@@@@1@27@@oe@2-2-2013
21273026@unknown@formal@none@1@S@Those officials say there was full disclosure of the risks in a "fact sheet" sent to all CD investors with their confirmation of sale.@@@@1@24@@oe@2-2-2013
21273027@unknown@formal@none@1@S@The fact sheet, dated April 1986, says on page three: "If the price paid for a CD purchased in the secondary market . . . is higher than the accreted value in the case of zero-coupon CDs, the difference . . . is not insured . . . .@@@@1@49@@oe@2-2-2013
21273028@unknown@formal@none@1@S@Computations involving zero-coupon CDs are more complicated and you should discuss any questions you may have with your financial consultant."@@@@1@20@@oe@2-2-2013
21273029@unknown@formal@none@1@S@Dr. Blumenfeld says he doesn't remember the paragraph about premiums in the fact sheet he received and didn't realize part of what he paid was a premium.@@@@1@27@@oe@2-2-2013
21273030@unknown@formal@none@1@S@"I assumed I was buying a CD as a CD," he says.@@@@1@12@@oe@2-2-2013
21273031@unknown@formal@none@1@S@Nevertheless, Merrill Lynch has agreed that if the thrift that issued Dr. Blumenfeld's CD, Peoples Heritage Federal Savings & Loan Association in Salina, Kan., is liquidated and the CD terminated, the brokerage firm would cover the premium Dr. Blumenfeld paid.@@@@1@40@@oe@2-2-2013
21273032@unknown@formal@none@1@S@(Federal deposit insurance would pay principal and interest accrued to the date of liquidation, to a maximum of $100,000.)@@@@1@19@@oe@2-2-2013
21273033@unknown@formal@none@1@S@"It's not a blanket commitment, it's a case-by-case situation," says Albert Disposti, a managing director of Merrill Lynch Money Markets Inc.@@@@1@21@@oe@2-2-2013
21273034@unknown@formal@none@1@S@"There's a question whether brokers at the time were fully aware" of the risks.@@@@1@14@@oe@2-2-2013
21273035@unknown@formal@none@1@S@"We weren't sure that full disclosure, as we wanted it, was being made."@@@@1@13@@oe@2-2-2013
21273036@unknown@formal@none@1@S@Merrill Lynch says it's impossible to estimate how many investors are in Dr. Blumenfeld's situation, although it says the firm has received only one other complaint about premiums on the secondary market in three years.@@@@1@35@@oe@2-2-2013
21273037@unknown@formal@none@1@S@Merrill Lynch now provides credit rating information about the institutions whose CDs it sells, which it didn't provide in 1986.@@@@1@20@@oe@2-2-2013
21273038@unknown@formal@none@1@S@Zero-coupon CDs are only a small portion of the $1 trillion-plus in CDs outstanding, and those purchased on the secondary market are an even smaller part of the total.@@@@1@29@@oe@2-2-2013
21273039@unknown@formal@none@1@S@Merrill Lynch estimates that fewer than 10 financial institutions currently issue zero-coupon CDs.@@@@1@13@@oe@2-2-2013
21273040@unknown@formal@none@1@S@Still, there are several billion dollars of zero-coupon CDs with various maturities outstanding.@@@@1@13@@oe@2-2-2013
21273041@unknown@formal@none@1@S@Because of the tax consequences of zero-coupon investments -- income tax is payable in the year interest is accrued, although interest isn't actually paid until maturity -- zero-coupon CDs are usually sold for tax-advantaged accounts to finance things like retirement and children's education.@@@@1@43@@oe@2-2-2013
21273042@unknown@formal@none@1@S@Most zero-coupon CDs are in maturities of six to nine years, and they usually double in value by maturity.@@@@1@19@@oe@2-2-2013
21273043@unknown@formal@none@1@S@But investors who bought zero-coupon CDs in the secondary market aren't the only ones who may be surprised to learn the full amount of their investments isn't insured.@@@@1@28@@oe@2-2-2013
21273044@unknown@formal@none@1@S@People who paid a premium for standard CDs purchased on the secondary market could also find that those premiums aren't insured if the institutions that issued the CDs failed.@@@@1@29@@oe@2-2-2013
21273045@unknown@formal@none@1@S@However, those premiums are usually far smaller than on zero-coupon CDs, and the simpler pricing structure of a standard CD makes it more apparent when a premium is paid.@@@@1@29@@oe@2-2-2013
21273046@unknown@formal@none@1@S@Whatever the case, a Merrill Lynch spokesman emphasizes, investors shouldn't have to worry about the uninsured premium issue, unless the bank or thrift that issued the CD is closed and its deposits paid off before maturity or transferred to another institution at a lower rate.@@@@1@45@@oe@2-2-2013
21273047@unknown@formal@none@1@S@Dr. Blumenfeld says he's satisfied that his problem has been resolved.@@@@1@11@@oe@2-2-2013
21273048@unknown@formal@none@1@S@And he says he's learned a lesson: "You always have to watch out for yourself.@@@@1@15@@oe@2-2-2013
21273049@unknown@formal@none@1@S@No one else will watch out for you.@@@@1@8@@oe@2-2-2013
21274001@unknown@formal@none@1@S@Americans are drinking less, but young professionals from Australia to West Germany are rushing to buy premium-brand American vodka, brandy and other spirits.@@@@1@23@@oe@2-2-2013
21274002@unknown@formal@none@1@S@In particular, many are snubbing the scotch preferred by their parents and opting for bourbon, the sweet firewater from the Kentucky countryside.@@@@1@22@@oe@2-2-2013
21274003@unknown@formal@none@1@S@With U.S. liquor consumption declining steadily, many American producers are stepping up their marketing efforts abroad.@@@@1@16@@oe@2-2-2013
21274004@unknown@formal@none@1@S@And those efforts are paying off: Spirits exports jumped more than 2 1/2 times to $157.2 million in 1988 from $59.8 million in 1983, according to the Distilled Spirits Council of the U.S., a trade group.@@@@1@36@@oe@2-2-2013
21274005@unknown@formal@none@1@S@"Spirits companies now view themselves as global marketers," says Michael Bellas, president of Beverage Marketing Corp., a research and consulting firm.@@@@1@21@@oe@2-2-2013
21274006@unknown@formal@none@1@S@"If you want to be a player, you have to be in America, Europe and the Far East.@@@@1@18@@oe@2-2-2013
21274007@unknown@formal@none@1@S@You must have world-class brands, a long-term perspective and deep pockets."@@@@1@11@@oe@2-2-2013
21274008@unknown@formal@none@1@S@The internationalization of the industry has been hastened by foreign companies' acquisitions of many U.S. producers.@@@@1@16@@oe@2-2-2013
21274009@unknown@formal@none@1@S@In recent years, for example, Grand Metropolitan PLC of Britain acquired Heublein Inc., while another British company, Guinness PLC, took over United Distillers Group and Schenley Industries Inc.@@@@1@28@@oe@2-2-2013
21274010@unknown@formal@none@1@S@But the shift has also been fueled by necessity.@@@@1@9@@oe@2-2-2013
21274011@unknown@formal@none@1@S@While premium-brand spirits like Smirnoff vodka and Jack Daniel's whiskey are riding high in the U.S., domestic spirits consumption fell 15% to 141.1 million cases in 1988 from 166 million cases in 1979.@@@@1@33@@oe@2-2-2013
21274012@unknown@formal@none@1@S@In recent years, growth has come in the foreign markets.@@@@1@10@@oe@2-2-2013
21274013@unknown@formal@none@1@S@U.S. brandy exports more than doubled last year to 360,000 proof gallons, a standard industry measure, according to Jobson Beverage Alcohol Group, an industry association.@@@@1@25@@oe@2-2-2013
21274014@unknown@formal@none@1@S@Exports of rum surged 54% to 814,000 proof gallons.@@@@1@9@@oe@2-2-2013
21274015@unknown@formal@none@1@S@Mexico is the biggest importer of both rum and brandy from the U.S.@@@@1@13@@oe@2-2-2013
21274016@unknown@formal@none@1@S@Japan, the world's third-largest liquor market after the U.S. and Britain, helped American companies in April when it lowered its tax on imported spirits and levied a tax on many domestic products.@@@@1@32@@oe@2-2-2013
21274017@unknown@formal@none@1@S@California wineries, benefiting from lowered trade barriers and federal marketing subsidies, are expanding aggressively into Japan, as well as Canada and Great Britain.@@@@1@23@@oe@2-2-2013
21274018@unknown@formal@none@1@S@In Japan, the wineries are promoting their products' Pacific roots and courting restaurant and hotel chefs, whose recommendations carry weight.@@@@1@20@@oe@2-2-2013
21274019@unknown@formal@none@1@S@In Australia, Britain, Canada and Greece, Brown-Forman Corp. has increased its marketing of Southern Comfort Liqueur.@@@@1@16@@oe@2-2-2013
21274020@unknown@formal@none@1@S@Using cinema, television and print ads, the company pitches Southern Comfort as a grand old drink of the antebellum American South.@@@@1@21@@oe@2-2-2013
21274021@unknown@formal@none@1@S@The biggest foreign inroads, though, have been made by bourbon.@@@@1@10@@oe@2-2-2013
21274022@unknown@formal@none@1@S@While U.S. makers of vodka, rum and other spirits compete against powerhouses abroad, trade agreements prohibit any other country from making bourbon.@@@@1@22@@oe@2-2-2013
21274023@unknown@formal@none@1@S@(All bourbon comes from Kentucky, though Jack Daniel's Tennessee whiskey often is counted as bourbon because of similarity of taste.)@@@@1@20@@oe@2-2-2013
21274024@unknown@formal@none@1@S@Moreover, just as vodka has acquired an upscale image in the U.S., bourbon has become fashionable in many foreign countries, a uniquely American product tied to frontier folklore.@@@@1@28@@oe@2-2-2013
21274025@unknown@formal@none@1@S@How was the West won?@@@@1@5@@oe@2-2-2013
21274026@unknown@formal@none@1@S@With a six-shooter in one hand and bourbon in the other.@@@@1@11@@oe@2-2-2013
21274027@unknown@formal@none@1@S@"We imagine with bourbon the Wild West, Western motion pictures and gunmen appearing," says Kenji Kishimoto, vice president of Suntory International Corp., a division of Suntory Ltd., Japan's largest liquor company.@@@@1@31@@oe@2-2-2013
21274028@unknown@formal@none@1@S@Suntory distributes Brown-Forman bourbons in Japan.@@@@1@6@@oe@2-2-2013
21274029@unknown@formal@none@1@S@Bourbon makes up just 1% of world-wide spirits consumption, but it represented 57% of U.S. liquor exports last year, according to Jobson; no other category had more than 19%.@@@@1@29@@oe@2-2-2013
21274030@unknown@formal@none@1@S@Big U.S. distillers are fiercely vying for this market, which grew to $77 million last year from $33 million in 1987, according to government figures.@@@@1@25@@oe@2-2-2013
21274031@unknown@formal@none@1@S@Jim Beam Brands Co., a division of American Brands Inc., is the leading exporter of bourbon and produces 10 other types of liquor.@@@@1@23@@oe@2-2-2013
21274032@unknown@formal@none@1@S@The company says it will increase its international advertising 35% in 1990, with bourbon representing most of that amount.@@@@1@19@@oe@2-2-2013
21274033@unknown@formal@none@1@S@Guinness's Schenley Industries unit has increased its TV advertising in Japan and has built partnerships with duty-free shops throughout Asia, enabling it to install prominent counter displays.@@@@1@27@@oe@2-2-2013
21274034@unknown@formal@none@1@S@The company's I.W. Harper brand is the leading bourbon in Japan, with 40% of the market.@@@@1@16@@oe@2-2-2013
21274035@unknown@formal@none@1@S@Bourbon exporters have succeeded in Japan where other industries have failed, avoiding cultural hitches in marketing and distribution by allying themselves with local agents.@@@@1@24@@oe@2-2-2013
21274036@unknown@formal@none@1@S@Jim Beam Brands has a distribution partnership with Nikka Whiskey Co., a distiller.@@@@1@13@@oe@2-2-2013
21274037@unknown@formal@none@1@S@Seagram Co., which exports Four Roses bourbon, has such a link with Kirin Brewery Co.@@@@1@15@@oe@2-2-2013
21274038@unknown@formal@none@1@S@Some bourbon makers advertise abroad as they do at home.@@@@1@10@@oe@2-2-2013
21274039@unknown@formal@none@1@S@To promote Jack Daniel's overseas, Brown-Forman uses the same photos of front porches from Lynchburg, Va., and avuncular old men in overalls and hightops.@@@@1@24@@oe@2-2-2013
21274040@unknown@formal@none@1@S@Jim Beam print ads, however, strike different chords in different countries.@@@@1@11@@oe@2-2-2013
21274041@unknown@formal@none@1@S@In Australia, land of the outback, a snapshot of Jim Beam lies on a strip of hand-tooled leather.@@@@1@18@@oe@2-2-2013
21274042@unknown@formal@none@1@S@West Germans get glitz, with bourbon in the foreground and a posh Beverly Hills hotel in the background.@@@@1@18@@oe@2-2-2013
21274043@unknown@formal@none@1@S@Ads for England are artsy and irreverent.@@@@1@7@@oe@2-2-2013
21274044@unknown@formal@none@1@S@One ad features a huge robot carrying a voluptuous woman in a faint.@@@@1@13@@oe@2-2-2013
21274045@unknown@formal@none@1@S@The tagline: "I only asked if she wanted a Jim Beam.@@@@1@11@@oe@2-2-2013
21275001@unknown@formal@none@1@S@Capital Cities/ABC Inc.'s net income rose 29% on a modest 9% increase in revenue in the third quarter, mainly on strong advertising demand at its ABC television network operation.@@@@1@29@@oe@2-2-2013
21275002@unknown@formal@none@1@S@Demand for ads also rose at the eight TV stations Capital Cities owns and at its 80%-owned ESPN sports cable channel.@@@@1@21@@oe@2-2-2013
21275003@unknown@formal@none@1@S@The broadcast and publishing company reported net climbed to $80.8 million, or $4.56 a share, from $62.6 million, or $3.55 a share, in the year-earlier period.@@@@1@26@@oe@2-2-2013
21275004@unknown@formal@none@1@S@Revenue reached $1.1 billion from $1.01 billion.@@@@1@7@@oe@2-2-2013
21275005@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Capital Cities closed at $558.50, down $5.@@@@1@15@@oe@2-2-2013
21275006@unknown@formal@none@1@S@The broadcasting unit reported operating profit of $134.9 million, up 18% from the year-earlier $114.3 million.@@@@1@16@@oe@2-2-2013
21275007@unknown@formal@none@1@S@Publishing reported operating profit was $33.3 million, nearly flat with the year-before $33 million.@@@@1@14@@oe@2-2-2013
21275008@unknown@formal@none@1@S@Revenue at the broadcasting unit, consisting of the network and stations, advanced 11%, to $838 million from $752.9 million.@@@@1@19@@oe@2-2-2013
21275009@unknown@formal@none@1@S@The publishing unit reported revenue edged up 2.6% to $263.2 million from $256.6 million.@@@@1@14@@oe@2-2-2013
21275010@unknown@formal@none@1@S@Chairman Thomas S. Murphy cited Capital Cities' nine daily newspapers in explaining most of the gain.@@@@1@16@@oe@2-2-2013
21275011@unknown@formal@none@1@S@The parent also publishes weeklies, shopping guides and specialty magazines.@@@@1@10@@oe@2-2-2013
21275012@unknown@formal@none@1@S@For 1989's first nine months, Capital Cities net income grew 23% to $303.7 million, or $16.97 a share, from $246.9 million, or $14.43 a share.@@@@1@25@@oe@2-2-2013
21275013@unknown@formal@none@1@S@Revenue eased 0.3% to $3.45 billion from $3.46 billion.@@@@1@9@@oe@2-2-2013
21275014@unknown@formal@none@1@S@Last week, ABC unseated General Electric Co.'s National Broadcasting Co. unit as the No. 1 network, as rated by A.C. Nielsen Co.@@@@1@22@@oe@2-2-2013
21275015@unknown@formal@none@1@S@ABC has four shows in the top 10, including the top show, "Roseanne.@@@@1@13@@oe@2-2-2013
21276001@unknown@formal@none@1@S@As part of a previously announced transaction, Federal Mogul Corp. has bought approximately 565,000 shares of its common stock from Nortek Inc. at $23.50 a share.@@@@1@26@@oe@2-2-2013
21276002@unknown@formal@none@1@S@Nortek has agreed not to acquire any securities of Federal-Mogul for 10 years and not to influence company affairs during that period.@@@@1@22@@oe@2-2-2013
21277001@unknown@formal@none@1@S@Weyerhaeuser Co. said it sold its wall-paneling business to an affiliate of one of Indonesia's largest wood-products firms.@@@@1@18@@oe@2-2-2013
21277002@unknown@formal@none@1@S@Terms of the transaction weren't disclosed.@@@@1@6@@oe@2-2-2013
21277003@unknown@formal@none@1@S@Weyerhaeuser said its paneling business employs about 300 workers at two facilities in Chesapeake, Va., and Hancock, Vt.@@@@1@18@@oe@2-2-2013
21278001@unknown@formal@none@1@S@Manville Corp. said it will build a $24 million power plant to provide electricity to its Igaras pulp and paper mill in Brazil.@@@@1@23@@oe@2-2-2013
21278002@unknown@formal@none@1@S@The company said the plant will ensure that it has adequate energy for the mill and will reduce the mill's energy costs.@@@@1@22@@oe@2-2-2013
21278003@unknown@formal@none@1@S@Manville said it expects the plant to begin operating at the end of 1991.@@@@1@14@@oe@2-2-2013
21279001@unknown@formal@none@1@S@Housing and Urban Development Secretary Jack Kemp called on the Federal Reserve System to lower interest rates.@@@@1@17@@oe@2-2-2013
21279002@unknown@formal@none@1@S@In a speech to the Mortgage Bankers Association, Mr. Kemp broke the administration's public silence on the Fed and complained that "interest rates are too high."@@@@1@26@@oe@2-2-2013
21279003@unknown@formal@none@1@S@"I am convinced that a monetary policy for this country that would return interest rates to the historical level of 4% or 5% would have not only an immediate impact on housing starts, the housing stock, our industry in America, the refurbishing of our industrial system, it would help the Third World economies considerably and it would particularly have a favorable impact upon our budget deficit," Mr. Kemp said.@@@@1@69@@oe@2-2-2013
21279004@unknown@formal@none@1@S@The Fed recently eased credit by lowering the bellwether federal funds interest rate to 8 3/4% from about 9%.@@@@1@19@@oe@2-2-2013
21279005@unknown@formal@none@1@S@Bush administration officials say inflation is under control.@@@@1@8@@oe@2-2-2013
21279006@unknown@formal@none@1@S@With economic growth slowing, they say they believe the Fed should ease credit even further.@@@@1@15@@oe@2-2-2013
21279007@unknown@formal@none@1@S@But for the most part, officials have avoided expressing those views in public, fearing they would unnecessarily antagonize the Fed.@@@@1@20@@oe@2-2-2013
21280001@unknown@formal@none@1@S@McDonald's Corp. said third-quarter earnings rose 14% on a hefty sales gain, but domestic franchisees apparently didn't partake of the improvement.@@@@1@21@@oe@2-2-2013
21280002@unknown@formal@none@1@S@The world's largest fast-food chain said net income rose to $217.9 million, or 59 cents a share, from $191.3 million, or 51 cents a share, a year ago.@@@@1@28@@oe@2-2-2013
21280003@unknown@formal@none@1@S@In the latest period, the company had an average of 370.8 million shares, 5.6 million shares below last year's level.@@@@1@20@@oe@2-2-2013
21280004@unknown@formal@none@1@S@Revenue rose 12% to $1.63 billion from $1.46 billion.@@@@1@9@@oe@2-2-2013
21280005@unknown@formal@none@1@S@Systemwide sales, which include sales at franchisee as well as company-owned stores, totaled $4.59 billion compared with $4.2 billion.@@@@1@19@@oe@2-2-2013
21280006@unknown@formal@none@1@S@But sales for U.S. franchisees were flat at best on a per-store basis despite weak 1988 figures.@@@@1@17@@oe@2-2-2013
21280007@unknown@formal@none@1@S@Compared with the first nine months of last year, average franchisee store sales this year were down nearly $3,200, reflecting a fierce discounting war among fast-food chains.@@@@1@27@@oe@2-2-2013
21280008@unknown@formal@none@1@S@Since McDonald's menu prices rose this year, the actual decline may have been more.@@@@1@14@@oe@2-2-2013
21280009@unknown@formal@none@1@S@McDonald's closed at $31.375, up $1, in New York Stock Exchange composite trading yesterday.@@@@1@14@@oe@2-2-2013
21280010@unknown@formal@none@1@S@While franchisees were having a tough time holding sales, McDonald's company-operated stores posted hefty gains for the nine months, with sales per company-operated unit rising $20,000.@@@@1@26@@oe@2-2-2013
21280011@unknown@formal@none@1@S@One analyst noted that the company often has better store locations than do its franchisees, thus aiding promotional efforts.@@@@1@19@@oe@2-2-2013
21280012@unknown@formal@none@1@S@On average in the latest nine months, company-operated units in the U.S. had $90,552 more in sales than did franchised outlets.@@@@1@21@@oe@2-2-2013
21280013@unknown@formal@none@1@S@There are more than three times as many franchised domestic outlets as there are company stores.@@@@1@16@@oe@2-2-2013
21280014@unknown@formal@none@1@S@Profit margins at U.S. company-owned stores in the quarter were up nearly 1%, which the company attributed in part to lower food costs.@@@@1@23@@oe@2-2-2013
21280015@unknown@formal@none@1@S@Prudential-Bache Securities analyst Leslie Steppel said reduced labor costs helped boost margins, although she doubted "that kind of performance is sustainable."@@@@1@21@@oe@2-2-2013
21280016@unknown@formal@none@1@S@Calling sales "still relatively soft," Ms. Steppel believes that in real terms, U.S. sales slipped 3 1/2% to 4% at company-operated stores in the quarter.@@@@1@25@@oe@2-2-2013
21280017@unknown@formal@none@1@S@Apparently acknowledging weaker U.S. sales systemwide, McDonald's vowed "to use our size and muscle to do all that is necessary to build the brand."@@@@1@24@@oe@2-2-2013
21280018@unknown@formal@none@1@S@Overseas, both franchisees and the company performed substantially better than a year ago.@@@@1@13@@oe@2-2-2013
21280019@unknown@formal@none@1@S@Third-quarter sales in Europe were exceptionally strong, boosted by promotional programs and new products -- although weaker foreign currencies reduced the company's earnings.@@@@1@23@@oe@2-2-2013
21280020@unknown@formal@none@1@S@McDonald's said that systemwide sales would have been $115 million greater had 1988 exchange rates remained in effect.@@@@1@18@@oe@2-2-2013
21280021@unknown@formal@none@1@S@"Going into the fourth quarter the sales comparison will be more difficult," predicted restaurant analyst Howard Hansen of Kidder, Peabody & Co.@@@@1@22@@oe@2-2-2013
21280022@unknown@formal@none@1@S@Reflecting better growth prospects abroad, McDonald's noted that as of Sept. 30 more stores were under construction overseas than a year ago, while the opposite was true for domestic expansion.@@@@1@30@@oe@2-2-2013
21280023@unknown@formal@none@1@S@At the end of the third quarter McDonald's had 10,873 units operating world-wide.@@@@1@13@@oe@2-2-2013
21280024@unknown@formal@none@1@S@In the nine months, earnings rose 12% to $555.6 million, or $1.49 a share, from $494.4 million, or $1.31 a share, a year earlier.@@@@1@24@@oe@2-2-2013
21280025@unknown@formal@none@1@S@Revenue rose 11% to $4.56 billion from $4.12 billion.@@@@1@9@@oe@2-2-2013
21281001@unknown@formal@none@1@S@Carnival Cruise Lines Inc.'s common stock was dragged down yesterday amid concerns that a bankruptcy filing by a Finnish shipbuilder would delay delivery of three big cruise ships.@@@@1@28@@oe@2-2-2013
21281002@unknown@formal@none@1@S@The Miami-based company's stock fell $1.75 yesterday to $20.75 a share in heavy American Stock Exchange composite trading.@@@@1@18@@oe@2-2-2013
21281003@unknown@formal@none@1@S@Early yesterday, Carnival said in a company statement that it had been "notified unofficially" that Waertsilae Marine Industries, the Finnish shipyard that is building its three new cruise ships, planned to file for bankruptcy.@@@@1@34@@oe@2-2-2013
21281004@unknown@formal@none@1@S@Officials at Carnival declined to comment.@@@@1@6@@oe@2-2-2013
21281005@unknown@formal@none@1@S@"There is just a tremendous amount of uncertainty about what the effect, if any, of all this is," said John P. Uphoff, an analyst at Raymond James Associates Inc.@@@@1@29@@oe@2-2-2013
21281006@unknown@formal@none@1@S@"I didn't even know that a company in a socialistic country could file for bankruptcy."@@@@1@15@@oe@2-2-2013
21281007@unknown@formal@none@1@S@Carnival said the "Fantasy," the first of the three $200 million ships that Carnival has on order, is scheduled to be delivered next month, just in time for the winter tourist season in the Caribbean.@@@@1@35@@oe@2-2-2013
21281008@unknown@formal@none@1@S@That ship, which would carry about 2,050 passengers, would expand the capacity of Carnival's existing 14-ship fleet by 24%.@@@@1@19@@oe@2-2-2013
21281009@unknown@formal@none@1@S@The second ship, which is half-completed, is scheduled to be delivered in fall 1990, and the third in fall 1991.@@@@1@20@@oe@2-2-2013
21281010@unknown@formal@none@1@S@"There's a 99% chance that the Fantasy will be delivered close to schedule," said Caroline Levy, an analyst at Shearson Lehman Hutton Inc.@@@@1@23@@oe@2-2-2013
21281011@unknown@formal@none@1@S@"The others will probably be delivered as well, but Carnival will likely have to pay a higher price for them."@@@@1@20@@oe@2-2-2013
21281012@unknown@formal@none@1@S@She said the company could pay as much as 25% more for the ships.@@@@1@14@@oe@2-2-2013
21281013@unknown@formal@none@1@S@If the ships aren't delivered, however, it will likely have an effect on the company's earnings as soon as the 1990 fiscal year, which begins Dec. 1.@@@@1@27@@oe@2-2-2013
21281014@unknown@formal@none@1@S@Analysts said those estimates -- which range from about $1.80 a share to $1.95 a share -- are based on Fantasy being in operation in 1990.@@@@1@26@@oe@2-2-2013
21281015@unknown@formal@none@1@S@If the ship fails to arrive, those per-share earnings estimates could be trimmed 15 cents or more.@@@@1@17@@oe@2-2-2013
21281016@unknown@formal@none@1@S@Analysts weren't willing to speculate on how much money Carnival might lose through deposits.@@@@1@14@@oe@2-2-2013
21281017@unknown@formal@none@1@S@Normally, a company pays a portion of the total cost of a ship as it reaches various stages of construction.@@@@1@20@@oe@2-2-2013
21281018@unknown@formal@none@1@S@Carnival, for example, has already paid about $160 million of the total cost for Fantasy.@@@@1@15@@oe@2-2-2013
21281019@unknown@formal@none@1@S@Some analysts say this may give it the right to seize the ship if the situation warrants it.@@@@1@18@@oe@2-2-2013
21281020@unknown@formal@none@1@S@According to reports from Finland, Waertsilae Marine, 19%-owned by conglomerate Oy Waertsilae, filed for bankruptcy yesterday after the shipyard's contractors had started to demand bank guarantees.@@@@1@26@@oe@2-2-2013
21281021@unknown@formal@none@1@S@The shipyard disclosed in mid-August that it expected losses stemming from a series of unprofitable orders.@@@@1@16@@oe@2-2-2013
21282001@unknown@formal@none@1@S@Designer Sandra Garratt filed for Chapter 7 Bankruptcy Code protection, saying that her cash flow had been cut off.@@@@1@19@@oe@2-2-2013
21282002@unknown@formal@none@1@S@The designer, whose line of modular, one-size-fits-all clothing has spawned a host of clones, has been in a dispute with her latest licensee, Jerell Inc. for several months.@@@@1@28@@oe@2-2-2013
21282003@unknown@formal@none@1@S@Ms. Garratt was the subject of a Wall Street Journal article in March.@@@@1@13@@oe@2-2-2013
21282004@unknown@formal@none@1@S@The designer's attorney, Molly Bartholow, said that Ms. Garratt was forced to start bankruptcy-law proceedings because Jerell began withholding her royalty payments last month.@@@@1@24@@oe@2-2-2013
21282005@unknown@formal@none@1@S@Jerell paid Ms. Garratt royalties for the line known as Multiples by Sandra Garratt, which are sold primarily through department stores.@@@@1@21@@oe@2-2-2013
21282006@unknown@formal@none@1@S@Ms. Garratt sued the Dallas apparel maker earlier this year, charging that Jerell developed and marketed clothing lines fashioned after her designs, in violation of their contract.@@@@1@27@@oe@2-2-2013
21282007@unknown@formal@none@1@S@That lawsuit is still pending.@@@@1@5@@oe@2-2-2013
21282008@unknown@formal@none@1@S@Jerell couldn't immediately be reached for comment.@@@@1@7@@oe@2-2-2013
21282009@unknown@formal@none@1@S@Ms. Garratt's assets and liabilities weren't disclosed.@@@@1@7@@oe@2-2-2013
21283001@unknown@formal@none@1@S@Eaton Corp. had a 26% drop in third-quarter profit mainly because of lower sales of truck parts, its largest and most profitable single business.@@@@1@24@@oe@2-2-2013
21283002@unknown@formal@none@1@S@Sales of medium and heavy-duty trucks continue to lag previous-year rates, leading Eaton to expect fourth-quarter net income to fall below year-earlier levels, said Stephen R. Hardis, vice chairman and chief financial and administrative officer.@@@@1@35@@oe@2-2-2013
21283003@unknown@formal@none@1@S@He declined to make a specific earnings estimate.@@@@1@8@@oe@2-2-2013
21283004@unknown@formal@none@1@S@Third-quarter net was $40 million, or $1.04 a share, from $54.4 million, or $1.47 a share, a year ago.@@@@1@19@@oe@2-2-2013
21283005@unknown@formal@none@1@S@Sales rose 2.8% to $864.1 million, from $840.4 million.@@@@1@9@@oe@2-2-2013
21283006@unknown@formal@none@1@S@The quarter net was below analyst expectations mainly because truck-parts sales didn't rebound in September from the summer doldrums as they usually do, said Patrick E. Sheridan, analyst with McDonald & Co.@@@@1@32@@oe@2-2-2013
21283007@unknown@formal@none@1@S@Mr. Sheridan, who had been expecting quarter profit of about $1.25 a share, says he is reducing his estimate for the year to the area of $5.70 a share, from his previous estimate of $6.10.@@@@1@35@@oe@2-2-2013
21283008@unknown@formal@none@1@S@Eli Lustgarten of PaineWebber Inc., who a couple of weeks ago reduced his 1989 estimate to $5.70 a share because of the weakening truck market, says he will make another cut to about $5.50 a share in light of the third-quarter report.@@@@1@42@@oe@2-2-2013
21283009@unknown@formal@none@1@S@He said Eaton's quarter profit margin on controls was lower than he anticipated.@@@@1@13@@oe@2-2-2013
21283010@unknown@formal@none@1@S@Eaton said sales of truck axles, transmissions and other parts fell 7.2% to $295 million.@@@@1@15@@oe@2-2-2013
21283011@unknown@formal@none@1@S@Sales of parts for cars and construction vehicles rose.@@@@1@9@@oe@2-2-2013
21283012@unknown@formal@none@1@S@Eaton doesn't provide profit figures separately for each category, but operating profit for vehicle parts as a group fell 26% to $51 million on an about 1% drop in sales to $488 million.@@@@1@33@@oe@2-2-2013
21283013@unknown@formal@none@1@S@Mr. Hardis said truck-fleet operators appear to be cautious about buying new trucks until they see how the economy behaves.@@@@1@20@@oe@2-2-2013
21283014@unknown@formal@none@1@S@The truck sales slowdown reflects the general slowing in sales of consumer goods, he said, and the latest reports show a slight improvement rather than any indication of a downward spiral.@@@@1@31@@oe@2-2-2013
21283015@unknown@formal@none@1@S@Operating profit from electrical and electronics controls, Eaton's other major business group, fell 11% to $32 million, despite a 7.7% increase in sales to $376 million.@@@@1@26@@oe@2-2-2013
21283016@unknown@formal@none@1@S@The company attributed the decline to weakness in the commercial-switch market in North America and in the European appliance-controls market.@@@@1@20@@oe@2-2-2013
21283017@unknown@formal@none@1@S@For the nine months, net -- including profit from discontinued operations both years and in 1988 an extraordinary charge of $17.7 million related to settlement of a lawsuit -- was $170.6 million, or $4.54 a share, up 5.8% from $161.3 million, or $4.32 a share, a year ago.@@@@1@48@@oe@2-2-2013
21283018@unknown@formal@none@1@S@Eaton earned from continuing operations $165.1 million, or $4.40 a share, down 7% from $177.5 million, or $4.76 a share, a year earlier.@@@@1@23@@oe@2-2-2013
21283019@unknown@formal@none@1@S@Nine-month sales were $2.79 billion, up 8.2% from $2.58 billion a year earlier.@@@@1@13@@oe@2-2-2013
21283020@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Eaton closed at $57.50 a share, down $2.50.@@@@1@15@@oe@2-2-2013
21284001@unknown@formal@none@1@S@In Poland's rapid shift from socialism to an undefined alternative, environmental issues have become a cutting edge of broader movements to restructure the economy, cut cumbersome bureaucracies, and democratize local politics.@@@@1@31@@oe@2-2-2013
21284002@unknown@formal@none@1@S@Initial steps were taken at Poland's first international environmental conference, which I attended last month.@@@@1@15@@oe@2-2-2013
21284003@unknown@formal@none@1@S@The conference, held in Lower Silesia, was co-sponsored by the Environment Ministry, the Rockefeller Brothers Fund, and the Polish Ecological Club, and was attended by 50 Poles from government and industry, as well as Hungarians, Czechs, Russians, Japanese and Americans.@@@@1@40@@oe@2-2-2013
21284004@unknown@formal@none@1@S@The conference was entitled "Economic Mechanisms for Environmental Protection," a significant departure from East Bloc usage, which recognizes only one economic mechanism -- central planning -- to direct industrial behavior.@@@@1@30@@oe@2-2-2013
21284005@unknown@formal@none@1@S@Even more remarkably, it focused on emissions trading and similar market approaches to address pollution, notwithstanding Poland's lack of functioning markets.@@@@1@21@@oe@2-2-2013
21284006@unknown@formal@none@1@S@Why did East Bloc participants unanimously endorse market-based pollution approaches?@@@@1@10@@oe@2-2-2013
21284007@unknown@formal@none@1@S@The answer lies both in the degraded environment of these countries and the perceived causes of that degradation.@@@@1@18@@oe@2-2-2013
21284008@unknown@formal@none@1@S@Like other East Bloc countries, Poland possesses environmental laws more honored in their breach than in their observance.@@@@1@18@@oe@2-2-2013
21284009@unknown@formal@none@1@S@According to a detailed report by Zbigniew Bochniarz of the University of Minnesota's Hubert Humphrey Institute, 27 areas containing a third of Poland's population are regarded as "ecological hazards" due to multiple violations of standards.@@@@1@35@@oe@2-2-2013
21284010@unknown@formal@none@1@S@Norms are consistently exceeded at 60% of nitrogen oxide monitoring sites and 80% of those for dust and soot emissions.@@@@1@20@@oe@2-2-2013
21284011@unknown@formal@none@1@S@Four-fifths of Poland's soils have become highly acidified; 70% of its southern forests are projected to die by century's end.@@@@1@20@@oe@2-2-2013
21284012@unknown@formal@none@1@S@Between 1965 and 1985, Polish waters fit for human consumption dropped from 33% to 6% of all surface waters, while those unfit even for industry use nearly doubled.@@@@1@28@@oe@2-2-2013
21284013@unknown@formal@none@1@S@Poland produces about 20 times more soot and five times more sulfur dioxide and solid waste per unit of gross national product than does Western Europe.@@@@1@26@@oe@2-2-2013
21284014@unknown@formal@none@1@S@Its mortality rate for males over 35 is about 50% higher than West Germany's, and 50% higher in hazard areas than the national average.@@@@1@24@@oe@2-2-2013
21284015@unknown@formal@none@1@S@Since 1978, average annual growth rates for most pollutants have outstripped the growth of GNP.@@@@1@15@@oe@2-2-2013
21284016@unknown@formal@none@1@S@Conference participants saw these effects as flowing directly from (a) Marxist devaluation of environmental resources, which are not produced by labor; (b) planned economies' inability to control pollution where enterprises are state-owned and penalties are paid by the government; and (c) the continuing Stalinist emphasis on heavy industry for economic development, producing a far heavier and more wasteful use of energy and natural resources than in the West.@@@@1@68@@oe@2-2-2013
21284017@unknown@formal@none@1@S@They repeatedly noted that environmental progress could not be secured without true ownership, genuine competition based on market factors, and the risk of bankruptcy if a business makes the wrong decisions.@@@@1@31@@oe@2-2-2013
21284018@unknown@formal@none@1@S@The solutions they formally proposed included lead/sulfur taxes, conservation and recycling incentives, reforestation offsets, transferable pollution permits, an ecological bank to finance pollution-reduction credits, and debt-for-environment swaps.@@@@1@27@@oe@2-2-2013
21284019@unknown@formal@none@1@S@But their most fundamental recommendation was to separate industry from the state, making it fully accountable for pollution control.@@@@1@19@@oe@2-2-2013
21284020@unknown@formal@none@1@S@A revolution takes more than conference manifestos.@@@@1@7@@oe@2-2-2013
21284021@unknown@formal@none@1@S@Indeed, skepticism was amply captured by a joke told by Poles at the conference: "The world must be coming to an end.@@@@1@22@@oe@2-2-2013
21284022@unknown@formal@none@1@S@The Russians are talking peace.@@@@1@5@@oe@2-2-2013
21284023@unknown@formal@none@1@S@The Palestinians are talking elections.@@@@1@5@@oe@2-2-2013
21284024@unknown@formal@none@1@S@And the Poles are engaged in commerce."@@@@1@7@@oe@2-2-2013
21284025@unknown@formal@none@1@S@But the implications of such a shift to market approaches go well beyond the fact that Poland is already working on nationwide emissions trades to reduce smelter pollution, or that the Soviets plan to introduce marketable pollution permits in some republics next year.@@@@1@43@@oe@2-2-2013
21284026@unknown@formal@none@1@S@Those implications include: -- Privatization.@@@@1@5@@oe@2-2-2013
21284027@unknown@formal@none@1@S@Faced with a $40 billion foreign debt and skyrocketing inflation, Poland must privatize industry and eliminate subsidies to stabilize its currency and qualify for international assistance.@@@@1@26@@oe@2-2-2013
21284028@unknown@formal@none@1@S@Market-based pollution control may consume some capital that would otherwise purchase state industries.@@@@1@13@@oe@2-2-2013
21284029@unknown@formal@none@1@S@But it could also accelerate "marketization" by reinforcing industrial accountability, breaking up state monopolies, giving managers a stake in solutions, and ensuring that modernization is not reversible for failure to address environmental effects.@@@@1@33@@oe@2-2-2013
21284030@unknown@formal@none@1@S@-- Least-cost solutions.@@@@1@3@@oe@2-2-2013
21284031@unknown@formal@none@1@S@As conferees noted, scarce capital means the costs of control must be minimized through a broad menu of compliance choices for individual firms.@@@@1@23@@oe@2-2-2013
21284032@unknown@formal@none@1@S@That means simple, clear rules that secure the first large blocks of reduction, deferring more complex issues such as risk.@@@@1@20@@oe@2-2-2013
21284033@unknown@formal@none@1@S@It also means use of quantity-based pollution limits such as transferable permits, rather than price-based limits such as effluent fees.@@@@1@20@@oe@2-2-2013
21284034@unknown@formal@none@1@S@That's because quota-trained managers will likely respond better to quantity than to price signals.@@@@1@14@@oe@2-2-2013
21284035@unknown@formal@none@1@S@-- Creative financing.@@@@1@3@@oe@2-2-2013
21284036@unknown@formal@none@1@S@Even least-cost environmental solutions will require billions of dollars.@@@@1@9@@oe@2-2-2013
21284037@unknown@formal@none@1@S@New types of financing must make funds available without draining Poland's hard-currency reserves.@@@@1@13@@oe@2-2-2013
21284038@unknown@formal@none@1@S@-- Democratization.@@@@1@2@@oe@2-2-2013
21284039@unknown@formal@none@1@S@East Bloc pollution data typically have been state secrets.@@@@1@9@@oe@2-2-2013
21284040@unknown@formal@none@1@S@While Polish data have been freely available since 1980, it was no accident that participants urged the free flow of information.@@@@1@21@@oe@2-2-2013
21284041@unknown@formal@none@1@S@For once information flows, public participation follows and repression becomes difficult to reimpose.@@@@1@13@@oe@2-2-2013
21284042@unknown@formal@none@1@S@-- Global reciprocity.@@@@1@3@@oe@2-2-2013
21284043@unknown@formal@none@1@S@One participant prematurely declared that America has had a free market in goods but a planned economy for environmental protection, while Poland represents the opposite.@@@@1@25@@oe@2-2-2013
21284044@unknown@formal@none@1@S@His point: It will be increasingly difficult for the U.S. to cling to command-and-control measures if even the East Bloc steps to a different drummer.@@@@1@25@@oe@2-2-2013
21284045@unknown@formal@none@1@S@At the moment, Poland resembles 19th-century Pittsburgh more than a modern industrial society -- with antiquated production, inadequate environmental management, and little ecological awareness.@@@@1@24@@oe@2-2-2013
21284046@unknown@formal@none@1@S@But the continuing pressures for free-market economics suggest the conference's vision was not all fantasy.@@@@1@15@@oe@2-2-2013
21284047@unknown@formal@none@1@S@Mr. Levin, former head of EPA's regulatory reform staff, adapted this from his November column for the Journal of the Air and Waste Management Association.@@@@1@25@@oe@2-2-2013
21285001@unknown@formal@none@1@S@Disappointing earnings news from some technology companies unnerved investors in the over-the-counter market, who sold shares of Apple Computer, Intel and many other computer-related concerns.@@@@1@25@@oe@2-2-2013
21285002@unknown@formal@none@1@S@The drop in those and other technology stocks contributed to an 0.7% slide by the Nasdaq composite index.@@@@1@18@@oe@2-2-2013
21285003@unknown@formal@none@1@S@It finished at 467.22, down 3.45.@@@@1@6@@oe@2-2-2013
21285004@unknown@formal@none@1@S@The nervousness about the technology stock outlook also hurt the Dow Jones Industrial Average, which slipped about 1%.@@@@1@18@@oe@2-2-2013
21285005@unknown@formal@none@1@S@Mostly because of the sell-off in technology stocks, the Nasdaq 100 Index of the OTC's largest non-financial issues dropped 4.58 to 457.52.@@@@1@22@@oe@2-2-2013
21285006@unknown@formal@none@1@S@The Nasdaq Financial Index of giant insurance and banking issues lost 2.38 to 458.32.@@@@1@14@@oe@2-2-2013
21285007@unknown@formal@none@1@S@Some traders said the sell-off of technology stocks on low volume reflected a lack of conviction by investors.@@@@1@18@@oe@2-2-2013
21285008@unknown@formal@none@1@S@But Charlie Howley, vice president in charge of OTC trading at SoundView Financial in Stamford, Conn., said the selling was orderly.@@@@1@21@@oe@2-2-2013
21285009@unknown@formal@none@1@S@"It's a quiet retreat," said Mr. Howley.@@@@1@7@@oe@2-2-2013
21285010@unknown@formal@none@1@S@"It's nothing dramatic, just a routine sell-off."@@@@1@7@@oe@2-2-2013
21285011@unknown@formal@none@1@S@Some of it was due to lower-than-expected earnings from leading companies, he said.@@@@1@13@@oe@2-2-2013
21285012@unknown@formal@none@1@S@But some of it also represented profit-taking by investors who have made big gains in some issues.@@@@1@17@@oe@2-2-2013
21285013@unknown@formal@none@1@S@Yesterday's volume of 117.2 million shares was far below last week's sizzling average of nearly 177 million.@@@@1@17@@oe@2-2-2013
21285014@unknown@formal@none@1@S@For October so far, daily volume is averaging 150.3 million, putting it on track to be the year's busiest month.@@@@1@20@@oe@2-2-2013
21285015@unknown@formal@none@1@S@Apple Computer, which reported lackluster earnings Friday, lost 1 1/4 to 46 3/4 on 1.1 million shares.@@@@1@17@@oe@2-2-2013
21285016@unknown@formal@none@1@S@Stratus Computer, which reported earnings late Friday that were in line with a disappointing forecast, eased 3/4 to 24 on 816,000 shares.@@@@1@22@@oe@2-2-2013
21285017@unknown@formal@none@1@S@Investors apparently didn't like the news from Rainbow Technologies either.@@@@1@10@@oe@2-2-2013
21285018@unknown@formal@none@1@S@It said net income was 17 cents a share in the third quarter, compared with 16 cents a share a year earlier.@@@@1@22@@oe@2-2-2013
21285019@unknown@formal@none@1@S@Rainbow's stock dropped 2 to 14 1/4.@@@@1@7@@oe@2-2-2013
21285020@unknown@formal@none@1@S@Other technology stocks that were weaker included Intel, which fell 1 1/4 to 33 1/2 on 1.9 million shares, Mentor Graphics, down 3/4 to 16 1/4 on 1.6 million shares, Sun Microsystems, which slipped 3/8 to 18 1/4, and MCI Communications, down 1 to 42 3/4.@@@@1@46@@oe@2-2-2013
21285021@unknown@formal@none@1@S@Microsoft, which last week rose to a record, fell victim to profit-taking, traders said, as it declined 2 1/8 to 83 1/8.@@@@1@22@@oe@2-2-2013
21285022@unknown@formal@none@1@S@Conner Peripherals was unchanged at 15.@@@@1@6@@oe@2-2-2013
21285023@unknown@formal@none@1@S@Among takeover stocks, Jefferson Smurfit jumped 1 1/4 to 42 1/2 after SIBV-MS Holdings said the price to be paid to Jefferson Smurfit's minority holders has been raised to $43 a share.@@@@1@32@@oe@2-2-2013
21285024@unknown@formal@none@1@S@The increase of $1.25 a share is being made to settle shareholder litigation relating to SIBV-MS's tender offer.@@@@1@18@@oe@2-2-2013
21285025@unknown@formal@none@1@S@SIBV-MS Holdings is a new company jointly owned by an affiliate of Jefferson Smurfit and a Morgan Stanley limited partnership.@@@@1@20@@oe@2-2-2013
21285026@unknown@formal@none@1@S@The Jefferson Smurfit affiliate, Smurfit International B.V., holds about 78% of the shares outstanding.@@@@1@14@@oe@2-2-2013
21285027@unknown@formal@none@1@S@These shares will be bought by SIBV-MS Holdings at $41.75 each after the acquisition of the minority shares.@@@@1@18@@oe@2-2-2013
21285028@unknown@formal@none@1@S@Another takeover target, LIN Broadcasting, eased 1/2 to 110 1/8 on 313,800 shares.@@@@1@13@@oe@2-2-2013
21285029@unknown@formal@none@1@S@LIN's suitor, McCaw Cellular Communications, dropped 1 to 40 on almost 350,000 shares.@@@@1@13@@oe@2-2-2013
21285030@unknown@formal@none@1@S@Some analysts say investors will begin paying more attention to earnings, partly in response to the latest round of disappointments.@@@@1@20@@oe@2-2-2013
21285031@unknown@formal@none@1@S@They say investors will favor companies that historically have posted annual earnings growth of 15% to 20%.@@@@1@17@@oe@2-2-2013
21285032@unknown@formal@none@1@S@That would be good news for the OTC market, some analysts say, because many small growth stocks are traded there.@@@@1@20@@oe@2-2-2013
21285033@unknown@formal@none@1@S@Michael R. Weisberg, partner in charge of research at Robertson Stephens & Co. in San Francisco, said some investors have already made the switch.@@@@1@24@@oe@2-2-2013
21285034@unknown@formal@none@1@S@The Robertson Stephens Index of 340 emerging growth stocks is up 23.1% for the year through Friday.@@@@1@17@@oe@2-2-2013
21285035@unknown@formal@none@1@S@The rise matches that of the Dow Jones industrials this year.@@@@1@11@@oe@2-2-2013
21285036@unknown@formal@none@1@S@"It's been a spectacular year for the emerging growth stock investor," Mr. Weisberg said.@@@@1@14@@oe@2-2-2013
21285037@unknown@formal@none@1@S@He predicted that the most popular growth companies will be those with "some kind of unique product or franchise" that makes them appear able to sustain their momentum.@@@@1@28@@oe@2-2-2013
21285038@unknown@formal@none@1@S@He puts the OTC market's Nellcor, Office Club and BizMart on the list.@@@@1@13@@oe@2-2-2013
21285039@unknown@formal@none@1@S@Nellcor, a maker of electronic patient monitoring systems, was up 3/4 to 16 7/8 on 258,000 shares yesterday, while retailing issue Office Club was unchanged at 10 3/4 on 65,200 shares.@@@@1@31@@oe@2-2-2013
21285040@unknown@formal@none@1@S@BizMart, another retailing stock, was off 3/8 to 8 1/4 on nearly 80,000 shares.@@@@1@14@@oe@2-2-2013
21285041@unknown@formal@none@1@S@Other favorites of growth-stock analysts and money managers also had a mixed session.@@@@1@13@@oe@2-2-2013
21285042@unknown@formal@none@1@S@Payco American, a credit collection concern, jumped 1 3/8 to 20 5/8 on volume of 93,000, and Mail Boxes Etc., a private postal services company, advanced 1/2 to 23 1/2 on volume of 64,000.@@@@1@34@@oe@2-2-2013
21285043@unknown@formal@none@1@S@But Legent, a systems software stock, was down 1/2 to 29 3/4 on 39,300 shares.@@@@1@15@@oe@2-2-2013
21285044@unknown@formal@none@1@S@Novell, a computer networking concern, fell 1 1/2 to 30 on 152,000 shares.@@@@1@13@@oe@2-2-2013
21285045@unknown@formal@none@1@S@Elsewhere, Valley National continued its slide, dropping 2 1/8 to 15 on 1.7 million shares.@@@@1@15@@oe@2-2-2013
21285046@unknown@formal@none@1@S@The Arizona banking concern is facing difficulties related to weakness in the real estate market in the state.@@@@1@18@@oe@2-2-2013
21285047@unknown@formal@none@1@S@Higher earnings helped some issues.@@@@1@5@@oe@2-2-2013
21285048@unknown@formal@none@1@S@Amgen rose 2 1/4 to 54 3/4 on almost 800,000 shares, and CVB Financial jumped 4 to 41 on only 1,000 shares.@@@@1@22@@oe@2-2-2013
21286001@unknown@formal@none@1@S@Why can't we teach our children to read, write and reckon?@@@@1@11@@oe@2-2-2013
21286002@unknown@formal@none@1@S@It's not that we don't know how to, because we do.@@@@1@11@@oe@2-2-2013
21286003@unknown@formal@none@1@S@It's that we don't want to.@@@@1@6@@oe@2-2-2013
21286004@unknown@formal@none@1@S@And the reason we don't want to is that effective education would require us to relinquish some cherished metaphysical beliefs about human nature in general and the human nature of young people in particular, as well as to violate some cherished vested interests.@@@@1@43@@oe@2-2-2013
21286005@unknown@formal@none@1@S@These beliefs so dominate our educational establishment, our media, our politicians, and even our parents that it seems almost blasphemous to challenge them.@@@@1@23@@oe@2-2-2013
21286006@unknown@formal@none@1@S@Here is an example.@@@@1@4@@oe@2-2-2013
21286007@unknown@formal@none@1@S@If I were to ask a sample of American parents, "Do you wish the elementary schools to encourage creativity in your children?" the near-unanimous answer would be, "Yes, of course."@@@@1@30@@oe@2-2-2013
21286008@unknown@formal@none@1@S@But what do we mean, specifically, by "creativity"?@@@@1@8@@oe@2-2-2013
21286009@unknown@formal@none@1@S@No one can say.@@@@1@4@@oe@2-2-2013
21286010@unknown@formal@none@1@S@In practice, it ends up being equated with a "self-expression" that encourages the youngsters' "self-esteem."@@@@1@15@@oe@2-2-2013
21286011@unknown@formal@none@1@S@The result is a generation of young people whose ignorance and intellectual incompetence is matched only by their good opinion of themselves.@@@@1@22@@oe@2-2-2013
21286012@unknown@formal@none@1@S@The whole notion of "creativity" in education was (and is) part and parcel of a romantic rebellion against disciplined instruction, which was (and is) regarded as "authoritarian," a repression and frustration of the latent talents and the wonderful, if as yet undefined, potentialities inherent in the souls of all our children.@@@@1@51@@oe@2-2-2013
21286013@unknown@formal@none@1@S@It is not surprising that parents find this romantic extravagance so attractive.@@@@1@12@@oe@2-2-2013
21286014@unknown@formal@none@1@S@Fortunately, these same parents do want their children to get a decent education as traditionally understood, and they have enough common sense to know what that demands.@@@@1@27@@oe@2-2-2013
21286015@unknown@formal@none@1@S@Their commitment to "creativity" cannot survive adolescent illiteracy.@@@@1@8@@oe@2-2-2013
21286016@unknown@formal@none@1@S@American education's future will be determined by the degree to which we -- all of us -- allow this common sense to prevail over the illusions that we also share.@@@@1@30@@oe@2-2-2013
21286017@unknown@formal@none@1@S@The education establishment will fight against common sense every inch of the way.@@@@1@13@@oe@2-2-2013
21286018@unknown@formal@none@1@S@The reasons are complex, but one simple reason ought not to be underestimated.@@@@1@13@@oe@2-2-2013
21286019@unknown@formal@none@1@S@"Progressive education" (as it was once called) is far more interesting and agreeable to teachers than is disciplined instruction.@@@@1@19@@oe@2-2-2013
21286020@unknown@formal@none@1@S@It is nice for teachers to think they are engaged in "personality development" and even nicer to minimize those irksome tests with often disappointing results.@@@@1@25@@oe@2-2-2013
21286021@unknown@formal@none@1@S@It also provides teachers with a superior self-definition as a "profession," since they will have passed courses in educational psychology and educational philosophy.@@@@1@23@@oe@2-2-2013
21286022@unknown@formal@none@1@S@I myself took such courses in college, thinking I might end up a schoolteacher.@@@@1@14@@oe@2-2-2013
21286023@unknown@formal@none@1@S@They could all fairly be described as "pap" courses.@@@@1@9@@oe@2-2-2013
21286024@unknown@formal@none@1@S@But it is unfair to dump on teachers, as distinct from the educational establishment.@@@@1@14@@oe@2-2-2013
21286025@unknown@formal@none@1@S@I know many schoolteachers and, on the whole, they are seriously committed to conscientious teaching.@@@@1@15@@oe@2-2-2013
21286026@unknown@formal@none@1@S@They may not be among the "best and brightest" of their generation -- there are very few such people, by definition.@@@@1@21@@oe@2-2-2013
21286027@unknown@formal@none@1@S@But they need not be to do their jobs well.@@@@1@10@@oe@2-2-2013
21286028@unknown@formal@none@1@S@Yes, we all can remember one or two truly inspiring teachers from our school days.@@@@1@15@@oe@2-2-2013
21286029@unknown@formal@none@1@S@But our education proceeded at the hands of those others, who were merely competent and conscientious.@@@@1@16@@oe@2-2-2013
21286030@unknown@formal@none@1@S@In this sense, a teacher can be compared to one's family doctor.@@@@1@12@@oe@2-2-2013
21286031@unknown@formal@none@1@S@If he were brilliant, he probably would not be a family doctor in the first place.@@@@1@16@@oe@2-2-2013
21286032@unknown@formal@none@1@S@If he is competent and conscientious, he serves us well.@@@@1@10@@oe@2-2-2013
21286033@unknown@formal@none@1@S@Our teachers are not an important factor in our educational crisis.@@@@1@11@@oe@2-2-2013
21286034@unknown@formal@none@1@S@Whether they are or are not underpaid is a problem of equity; it is not an educational problem.@@@@1@18@@oe@2-2-2013
21286035@unknown@formal@none@1@S@It is silly libel on our teachers to think they would educate our children better if only they got a few thousand dollars a year more.@@@@1@26@@oe@2-2-2013
21286036@unknown@formal@none@1@S@It is the kind of libel the teachers' unions don't mind spreading, for their own narrow purposes.@@@@1@17@@oe@2-2-2013
21286037@unknown@formal@none@1@S@It is also the kind of libel politicians find useful, since it helps them strike a friendly posture on behalf of an important constituency.@@@@1@24@@oe@2-2-2013
21286038@unknown@formal@none@1@S@But there is not one shred of evidence that, other things being equal, salary differentials result in educational differentials.@@@@1@19@@oe@2-2-2013
21286039@unknown@formal@none@1@S@If there were such evidence, you can be sure you would have heard of it.@@@@1@15@@oe@2-2-2013
21286040@unknown@formal@none@1@S@If we wish to be serious about American education, we know exactly what to do -- and, just as important, what not to do.@@@@1@24@@oe@2-2-2013
21286041@unknown@formal@none@1@S@There are many successful schools scattered throughout this nation, some of them in the poorest of ghettos, and they are all sending us the same message.@@@@1@26@@oe@2-2-2013
21286042@unknown@formal@none@1@S@Conversely, there are the majority of unsuccessful schools, and we know which efforts at educational reform are doomed beforehand.@@@@1@19@@oe@2-2-2013
21286043@unknown@formal@none@1@S@We really do know all we need to know, if only we could assimilate this knowledge into our thinking.@@@@1@19@@oe@2-2-2013
21286044@unknown@formal@none@1@S@In this respect, it would be helpful if our political leaders were mute, rather than eloquently "concerned."@@@@1@17@@oe@2-2-2013
21286045@unknown@formal@none@1@S@They are inevitably inclined to echo the conventional pap, since this is the least controversial option that is open to them.@@@@1@21@@oe@2-2-2013
21286046@unknown@formal@none@1@S@Thus at the recent governors' conference on education, Gov. Bill Clinton of Arkansas announced that "this country needs a comprehensive child-development policy for children under five."@@@@1@26@@oe@2-2-2013
21286047@unknown@formal@none@1@S@A comprehensive development policy for governors over 30 would seem to be a more pressing need.@@@@1@16@@oe@2-2-2013
21286048@unknown@formal@none@1@S@What Gov. Clinton is advocating, in effect, is extending the educational system down to the pre-kindergarten years.@@@@1@17@@oe@2-2-2013
21286049@unknown@formal@none@1@S@Whether desirable or not, this is a child-care program, not an educational program.@@@@1@13@@oe@2-2-2013
21286050@unknown@formal@none@1@S@We know that very early exposure to schooling improves performance in the first grade, but afterward the difference is quickly washed away.@@@@1@22@@oe@2-2-2013
21286051@unknown@formal@none@1@S@Let us sum up what we do know about education and about those education reforms that do work and don't work: -- "Parental involvement" is a bad idea.@@@@1@28@@oe@2-2-2013
21286052@unknown@formal@none@1@S@Parents are too likely to blame schools for the educational limitations of their children.@@@@1@14@@oe@2-2-2013
21286053@unknown@formal@none@1@S@Parents should be involved with their children's education at home, not in school.@@@@1@13@@oe@2-2-2013
21286054@unknown@formal@none@1@S@They should see to it that their kids don't play truant; they should make certain that the children spend enough time doing homework; they should scrutinize the report card.@@@@1@29@@oe@2-2-2013
21286055@unknown@formal@none@1@S@If parents are dissatisfied with a school, they should have the option of switching to another.@@@@1@16@@oe@2-2-2013
21286056@unknown@formal@none@1@S@-- "Community involvement" is an even worse idea.@@@@1@8@@oe@2-2-2013
21286057@unknown@formal@none@1@S@Here, the experience of New York City is decisive.@@@@1@9@@oe@2-2-2013
21286058@unknown@formal@none@1@S@Locally elected school boards, especially in our larger cities, become the prey of ambitious, generally corrupt, and invariably demagogic local politicians or would-be politicians.@@@@1@24@@oe@2-2-2013
21286059@unknown@formal@none@1@S@New York is in the process of trying to disengage itself from a 20-year-old commitment to this system of school governance, even as Chicago and other cities are moving to institute it.@@@@1@32@@oe@2-2-2013
21286060@unknown@formal@none@1@S@-- In most states, increasing expenditures on education, in our current circumstances, will probably make things worse, not better.@@@@1@19@@oe@2-2-2013
21286061@unknown@formal@none@1@S@The reason is simple: Education takes place in the classroom, where the influence of money is minimal.@@@@1@17@@oe@2-2-2013
21286062@unknown@formal@none@1@S@Decades of educational research tell us unequivocally that even smaller classes have zero effect on the academic performance of the pupils -- though they may sometimes be desirable for other reasons.@@@@1@31@@oe@2-2-2013
21286063@unknown@formal@none@1@S@The new money flows into the already top-heavy administrative structure, which busies itself piling more and more paper work on the teachers.@@@@1@22@@oe@2-2-2013
21286064@unknown@formal@none@1@S@There is neither mystery nor paradox in the fact that as educational expenditures (in real terms) have increased sharply in the past quarter-of-a-century -- we now spend more per pupil than any other country in the world -- educational performance has declined.@@@@1@42@@oe@2-2-2013
21286065@unknown@formal@none@1@S@That is the way the system works.@@@@1@7@@oe@2-2-2013
21286066@unknown@formal@none@1@S@-- Students should move up the educational ladder as their academic potential allows.@@@@1@13@@oe@2-2-2013
21286067@unknown@formal@none@1@S@No student should be permitted to be graduated from elementary school without having mastered the 3 R's at the level that prevailed 20 years ago.@@@@1@25@@oe@2-2-2013
21286068@unknown@formal@none@1@S@This means "tracking," whose main purpose is less to permit the gifted youngsters to flourish (though that is clearly desirable) than to ensure that the less gifted get the necessary grounding for further study or for entering the modern world of work.@@@@1@42@@oe@2-2-2013
21286069@unknown@formal@none@1@S@The notion that tracking is somehow "undemocratic" is absurd.@@@@1@9@@oe@2-2-2013
21286070@unknown@formal@none@1@S@The purpose of education is to encourage young men and women to realize their full academic potential.@@@@1@17@@oe@2-2-2013
21286071@unknown@formal@none@1@S@No one in his right mind actually believes that we all have an equal academic potential.@@@@1@16@@oe@2-2-2013
21286072@unknown@formal@none@1@S@-- It is generally desirable to use older textbooks -- many of them, alas, out of print -- rather than newer ones.@@@@1@22@@oe@2-2-2013
21286073@unknown@formal@none@1@S@The latter are modish, trendy, often downright silly, and at best insubstantial.@@@@1@12@@oe@2-2-2013
21286074@unknown@formal@none@1@S@They are based on dubious psychological and sociological theories rather than on educational experience.@@@@1@14@@oe@2-2-2013
21286075@unknown@formal@none@1@S@One of the reasons American students do so poorly in math tests, as compared with British, French, German or Japanese students, is the influence of the "New Math" on American textbooks and teaching methods.@@@@1@34@@oe@2-2-2013
21286076@unknown@formal@none@1@S@Anyone who wants to appreciate just how bizarre this situation is -- with students who can't add or subtract "learning" the conceptual basis of mathematical theory -- should read the article by Caleb Nelson (himself a recent math major at Harvard) in the November American Spectator.@@@@1@46@@oe@2-2-2013
21286077@unknown@formal@none@1@S@-- Most important of all, schools should have principals with a large measure of authority over the faculty, the curriculum, and all matters of student discipline.@@@@1@26@@oe@2-2-2013
21286078@unknown@formal@none@1@S@Study after study -- the most recent from the Brookings Institution -- tells us that the best schools are those that are free of outside interference and are governed by a powerful head.@@@@1@33@@oe@2-2-2013
21286079@unknown@formal@none@1@S@With that authority, of course, goes an unambiguous accountability.@@@@1@9@@oe@2-2-2013
21286080@unknown@formal@none@1@S@Schools that are structured in this way produce students with higher morale and superior academic performance.@@@@1@16@@oe@2-2-2013
21286081@unknown@formal@none@1@S@This is a fact -- though, in view of all the feathers that are ruffled by this fact, it is not surprising that one hears so little about it.@@@@1@29@@oe@2-2-2013
21286082@unknown@formal@none@1@S@Mr. Kristol, an American Enterprise Institute fellow, co-edits The Public Interest and publishes The National Interest.@@@@1@16@@oe@2-2-2013
21287001@unknown@formal@none@1@S@International Business Machines Corp. unveiled a broad strategy to tackle the biggest problem that manufacturers face when computerizing their operations: Most machines can't talk to each other.@@@@1@27@@oe@2-2-2013
21287002@unknown@formal@none@1@S@The company unveiled more than 50 products, mostly software, that are designed to integrate the three areas of a manufacturing operation -- the plant floor, design operations and production planning.@@@@1@30@@oe@2-2-2013
21287003@unknown@formal@none@1@S@The aim, ultimately, is to increase the flow of information into a manufacturer's main computer network for use in business planning, marketing and other operations.@@@@1@25@@oe@2-2-2013
21287004@unknown@formal@none@1@S@Manufacturers have already spent so heavily on automation that they are one of the computer industry's leading revenue sources.@@@@1@19@@oe@2-2-2013
21287005@unknown@formal@none@1@S@But many manufacturers find that communication between different computers has been rendered nearly impossible by the babel of computer languages used by different machines, including robots and machine tools.@@@@1@29@@oe@2-2-2013
21287006@unknown@formal@none@1@S@IBM's announcement, which was expected and will formally be made to customers today, also marks an attempt to gain credibility on the plant floor, where Digital Equipment Corp. has long dominated and where Hewlett-Packard Co. has recently gained market share.@@@@1@40@@oe@2-2-2013
21287007@unknown@formal@none@1@S@Consultants have said that it will take a while for all the pieces of the IBM strategy to fall into place, even though the specific products IBM unveiled will generally be available by the end of the first quarter.@@@@1@39@@oe@2-2-2013
21287008@unknown@formal@none@1@S@Sam Albert, a consultant in Scarsdale, N.Y., said that in the past IBM has developed broad software strategies only for problems that crossed industry lines.@@@@1@25@@oe@2-2-2013
21287009@unknown@formal@none@1@S@He said he believes IBM's decision to invest this sort of effort into a single industry showed that it was getting serious about understanding customers' problems and wasn't just selling technology.@@@@1@31@@oe@2-2-2013
21287010@unknown@formal@none@1@S@He said he expects IBM to unveil similar strategies for other industries in coming months.@@@@1@15@@oe@2-2-2013
21287011@unknown@formal@none@1@S@IBM's push is also unusual in its approach to marketing.@@@@1@10@@oe@2-2-2013
21287012@unknown@formal@none@1@S@Rather than just send out marketing people to knock on customers' doors, IBM is making several hundred of its own manufacturing people available to discuss specific needs.@@@@1@27@@oe@2-2-2013
21287013@unknown@formal@none@1@S@IBM's manufacturing staff also will be able to provide software that IBM has developed internally and will be able to form teams with a customer to jointly solve manufacturing problems.@@@@1@30@@oe@2-2-2013
21287014@unknown@formal@none@1@S@IBM can obviously bring its expertise to bear on problems related to computer manufacturing, but it could also help customers on software to deal with such things as changes in engineering documents.@@@@1@32@@oe@2-2-2013
21287015@unknown@formal@none@1@S@"We may not have every manufacturing problem, but we have most," said George Conrades, IBM's top marketing official.@@@@1@18@@oe@2-2-2013
21288001@unknown@formal@none@1@S@Japan's Big Four securities firms posted first-half unconsolidated results that mirrored softer performance as a result of slower turnover on the Tokyo Stock Exchange during July and August.@@@@1@28@@oe@2-2-2013
21288002@unknown@formal@none@1@S@Figures for the period ended Sept. 30 for the four largest brokerage firms -- Nomura Securities Co., Daiwa Securities Co., Yamaichi Securities Co. and Nikko Securities -- also reflected a changeover to a fiscal year ending March 31, replacing the 12-month term formerly finishing Sept. 30.@@@@1@46@@oe@2-2-2013
21288003@unknown@formal@none@1@S@As a result, brokerage house officials said, appropriate comparisons from the same period a year earlier were unavailable.@@@@1@18@@oe@2-2-2013
21288004@unknown@formal@none@1@S@Operating profit, pretax profit and net income results, however, were provided for the immediately preceding six-month period.@@@@1@17@@oe@2-2-2013
21288005@unknown@formal@none@1@S@The statistics follow a year-on-year rebound in consolidated and unconsolidated results in the full fiscal year ended in March 1989, recovering from dismal results in the prior fiscal year as a result of the October 1987 stock market crash.@@@@1@39@@oe@2-2-2013
21288006@unknown@formal@none@1@S@Nomura said its pretax profits inched up 0.9% to 248.91 billion yen (US$1.75 billion) from 246.60 billion yen in the six months ended March 31.@@@@1@25@@oe@2-2-2013
21288007@unknown@formal@none@1@S@Total operating profit fell 3.1% to 486.1 billion yen from 501.61 billion yen.@@@@1@13@@oe@2-2-2013
21288008@unknown@formal@none@1@S@Net income, however, rose 3.7% to 107.87 billion yen from 103.98 billion yen.@@@@1@13@@oe@2-2-2013
21288009@unknown@formal@none@1@S@Per-share net rose to 55.10 yen from 54.51 yen.@@@@1@9@@oe@2-2-2013
21288010@unknown@formal@none@1@S@Daiwa said its pretax profits surged 9.6% to 171.04 billion yen from 156.12 billion yen in the preceding six-month term.@@@@1@20@@oe@2-2-2013
21288011@unknown@formal@none@1@S@Operating profit rose 5.5% to 332.38 billion yen from 315.12 billion yen.@@@@1@12@@oe@2-2-2013
21288012@unknown@formal@none@1@S@Net income jumped 21% to 79.03 billion yen from 65.53 billion yen.@@@@1@12@@oe@2-2-2013
21288013@unknown@formal@none@1@S@Per-share net rose to 62.04 yen from 51.50 yen.@@@@1@9@@oe@2-2-2013
21288014@unknown@formal@none@1@S@Yamaichi said its pretax profit increased 8.9% to 117.94 billion yen from 108.28 billion yen.@@@@1@15@@oe@2-2-2013
21288015@unknown@formal@none@1@S@Operating profit rose 5.3% to 279.75 billion yen from 265.79 billion yen.@@@@1@12@@oe@2-2-2013
21288016@unknown@formal@none@1@S@Net income surged 21% to 55.59 billion yen from 46.02 billion yen.@@@@1@12@@oe@2-2-2013
21288017@unknown@formal@none@1@S@Per-share net rose to 47.46 yen from 39.31 yen.@@@@1@9@@oe@2-2-2013
21288018@unknown@formal@none@1@S@Nikko's pretax profit rose 1.6% to 130.25 billion yen from 128.19 billion yen.@@@@1@13@@oe@2-2-2013
21288019@unknown@formal@none@1@S@Operating profit rose 4% to 293.29 billion yen from 282.08 billion yen.@@@@1@12@@oe@2-2-2013
21288020@unknown@formal@none@1@S@Net income rose 23% to 63.52 billion yen from 51.65 billion yen.@@@@1@12@@oe@2-2-2013
21288021@unknown@formal@none@1@S@Per-share net rose to 44.08 yen from 36.13 yen.@@@@1@9@@oe@2-2-2013
21289001@unknown@formal@none@1@S@Harken Energy Corp. of Dallas said it will drop its $11.75-a-share, or $190 million, offer for Tesoro Petroleum Corp. if the two companies don't have an agreement to merge by Dec. 15.@@@@1@32@@oe@2-2-2013
21289002@unknown@formal@none@1@S@Harken, which made its offer in August, said it still is awaiting a response to its offer from Tesoro's board.@@@@1@20@@oe@2-2-2013
21289003@unknown@formal@none@1@S@Harken also said that its financing from Bankers Trust Co. has been extended until Dec. 15 to give Tesoro's board time to consider the offer at a Tesoro board meeting scheduled for mid-November.@@@@1@33@@oe@2-2-2013
21289004@unknown@formal@none@1@S@Harken, which owns about 800 retail gas stations, has said it is particularly interested in Tesoro's refinery because it would fill a gap in its business.@@@@1@26@@oe@2-2-2013
21289005@unknown@formal@none@1@S@However, Tesoro, based in Houston, already has rejected a suitor in the past year.@@@@1@14@@oe@2-2-2013
21290001@unknown@formal@none@1@S@Francis D. John, 35-year-old president, will assume the additional job of chief executive officer.@@@@1@14@@oe@2-2-2013
21290002@unknown@formal@none@1@S@He succeeds Paul J. Montle, 42, who will remain chairman.@@@@1@10@@oe@2-2-2013
21290003@unknown@formal@none@1@S@National Environmental also said it will move its headquarters from Hingham to Folcroft, Pa., the site of its sludge dewatering facility.@@@@1@21@@oe@2-2-2013
21290004@unknown@formal@none@1@S@National Environmental, formerly Yankee Cos., is a sludge treatment company.@@@@1@10@@oe@2-2-2013
21291001@unknown@formal@none@1@S@Eagle Clothes Inc., which is operating under Chapter 11 of the federal Bankruptcy Code, said it reached an agreement with its creditors.@@@@1@22@@oe@2-2-2013
21291002@unknown@formal@none@1@S@Under the accord, Albert Roth, chairman and chief executive officer, and Arthur Chase, Sam Beigel, and Louis Polsky will resign as officers and directors of the menswear retailer.@@@@1@28@@oe@2-2-2013
21291003@unknown@formal@none@1@S@Mr. Roth, who has been on leave from his posts, will be succeeded by Geoffrie D. Lurie of GDL Management Inc., which is Eagle's crisis manager.@@@@1@26@@oe@2-2-2013
21291004@unknown@formal@none@1@S@Mr. Lurie is currently co-chief executive.@@@@1@6@@oe@2-2-2013
21291005@unknown@formal@none@1@S@Arnold Levine, acting co-chief executive, will continue as senior vice president and a board member.@@@@1@15@@oe@2-2-2013
21291006@unknown@formal@none@1@S@Eagle also said it received a commitment for as much as $8 million in financing from Norfolk Capital Group Inc.@@@@1@20@@oe@2-2-2013
21291007@unknown@formal@none@1@S@In addition, a Norfolk affiliate, York Capital Inc., will purchase all of the interests of Eagle's secured lenders, which total $11.5 million, and guarantee as much as $8.2 million in payments to Eagle's unsecured creditors.@@@@1@35@@oe@2-2-2013
21291008@unknown@formal@none@1@S@A committee representing the unsecured creditors agreed to accept 24 cents on the dollar, Eagle said.@@@@1@16@@oe@2-2-2013
21291009@unknown@formal@none@1@S@The plan would extend the period under which Eagle has the exclusive right to file a reorganization plan.@@@@1@18@@oe@2-2-2013
21291010@unknown@formal@none@1@S@It would extinguish all of Eagle's existing capital stock and issue new stock to York as sole holder.@@@@1@18@@oe@2-2-2013
21291011@unknown@formal@none@1@S@A bankruptcy court hearing is set for Nov. 3 on these accords.@@@@1@12@@oe@2-2-2013
21291012@unknown@formal@none@1@S@In its bankruptcy-law petition, filed in U.S. Bankruptcy Court in Manhattan, Eagle said its problems began in 1987 and early 1988 when its then-senior lender, Bankers Trust Co., reduced its credit line.@@@@1@32@@oe@2-2-2013
21291013@unknown@formal@none@1@S@In September 1988, Eagle acquired Biny Clothing Inc., a closely held New York chain operated under the Bonds name.@@@@1@19@@oe@2-2-2013
21291014@unknown@formal@none@1@S@Eagle's management retired and Biny's management took control of the company.@@@@1@11@@oe@2-2-2013
21291015@unknown@formal@none@1@S@At the time, Eagle reached a new credit agreement with Bankers Trust and with Bank Leumi Trust Co. of New York for $8 million, and a new subordinated debt accord with First Century Partners and Biny management for $2 million.@@@@1@40@@oe@2-2-2013
21291016@unknown@formal@none@1@S@But Eagle said the financing was insufficient and sales during the past fiscal year sagged.@@@@1@15@@oe@2-2-2013
21291017@unknown@formal@none@1@S@Under Chapter 11, a company operates under protection from creditors' lawsuits while it works out a plan to pay debts.@@@@1@20@@oe@2-2-2013
21292001@unknown@formal@none@1@S@Standard & Poor's Corp. said it would add John H. Harland Co., an Atlanta check printer, to its 500-stock index, effective at the close of trading on Wednesday.@@@@1@28@@oe@2-2-2013
21292002@unknown@formal@none@1@S@American Medical International Inc., a New York hospital operator, will be deleted from the index at that time.@@@@1@18@@oe@2-2-2013
21292003@unknown@formal@none@1@S@American Medical is being acquired.@@@@1@5@@oe@2-2-2013
21293001@unknown@formal@none@1@S@The tougher new regulations under the savings-and-loan bailout law are accelerating the thrift industry's shrinking act.@@@@1@16@@oe@2-2-2013
21293002@unknown@formal@none@1@S@Largely to meet tougher new capital requirements, thrifts reduced their assets $13.4 billion in August, by selling such assets as mortgage-backed securities and loans.@@@@1@24@@oe@2-2-2013
21293003@unknown@formal@none@1@S@Industry assets as of Aug. 31 were $1.31 trillion, the lowest since August 1988.@@@@1@14@@oe@2-2-2013
21293004@unknown@formal@none@1@S@As thrifts sell assets to improve their capital-to-asset ratio, as required under the new law passed in August, they must also reduce liabilities, such as deposits.@@@@1@26@@oe@2-2-2013
21293005@unknown@formal@none@1@S@As interest rates paid depositors were lowered, thrift withdrawals exceeded deposits by $5.1 billion, not including interest credited to accounts.@@@@1@20@@oe@2-2-2013
21293006@unknown@formal@none@1@S@It was the third consecutive month in which thrifts shed assets to increase the size of their capital in relation to their assets, the Office of Thrift Supervision said.@@@@1@29@@oe@2-2-2013
21293007@unknown@formal@none@1@S@The asset shrinkage was particularly concentrated in several large California institutions.@@@@1@11@@oe@2-2-2013
21293008@unknown@formal@none@1@S@"The downsizing of the thrift industry is well under way," said Bert Ely, an industry consultant in Alexandria, Va.@@@@1@19@@oe@2-2-2013
21293009@unknown@formal@none@1@S@"This suggests the bailout law is having a more dramatic effect than anyone would have imagined so soon."@@@@1@18@@oe@2-2-2013
21293010@unknown@formal@none@1@S@James Barth, an economist with the Office of Thrift Supervision, also attributed some of the outflow to seasonal factors.@@@@1@19@@oe@2-2-2013
21293011@unknown@formal@none@1@S@"August is a month when people are paying school tuition," he said.@@@@1@12@@oe@2-2-2013
21293012@unknown@formal@none@1@S@"That and adjustment to the new law were the biggest factors in the industry."@@@@1@14@@oe@2-2-2013
21293013@unknown@formal@none@1@S@Not including thrifts under government conservatorship, S&Ls reduced their assets by $10.1 billion from the previous month, and deposit outflows totaled $3.9 billion.@@@@1@23@@oe@2-2-2013
21293014@unknown@formal@none@1@S@For the 264 insolvent thrifts under government management at the end of August, assets declined by $3.3 billion and withdrawals exceeded deposits by $1.2 billion.@@@@1@25@@oe@2-2-2013
21293015@unknown@formal@none@1@S@Thrifts raised capital mostly by selling mortgages and mortgage-backed securities, which were reduced by $7.8 billion in August from the prior month.@@@@1@22@@oe@2-2-2013
21293016@unknown@formal@none@1@S@As of Aug. 31, thrifts held $185 billion in mortgage-backed securities.@@@@1@11@@oe@2-2-2013
21293017@unknown@formal@none@1@S@The deposit numbers for August marked a swing back to huge outflows after a July net deposit inflow of $54 million -- the only net inflow in more than a year.@@@@1@31@@oe@2-2-2013
21293018@unknown@formal@none@1@S@Deposits aren't expected to exceed withdrawals in the foreseeable future, as the industry continues to shrink.@@@@1@16@@oe@2-2-2013
21293019@unknown@formal@none@1@S@"I think we are going to see deposit shrinkage continue, unless we see big changes in rates," Mr. Ely said.@@@@1@20@@oe@2-2-2013
21293020@unknown@formal@none@1@S@For the first eight months of 1989, thrifts' withdrawals exceeded deposits by $44.5 billion.@@@@1@14@@oe@2-2-2013
21293021@unknown@formal@none@1@S@For the prior year, deposits exceeded withdrawals by $8.8 billion.@@@@1@10@@oe@2-2-2013
21294001@unknown@formal@none@1@S@The estimates of real gross national product prepared by the Bureau of Economic Analysis in the Department of Commerce significantly understate the rate of economic growth.@@@@1@26@@oe@2-2-2013
21294002@unknown@formal@none@1@S@Since the bureau's estimates for the business sector provide the numerator for the productivity ratios calculated by the Department of Labor, underestimated growth rates artificially depress official productivity statistics.@@@@1@29@@oe@2-2-2013
21294003@unknown@formal@none@1@S@If this thesis is correct, it has important implications for macroeconomic policies: It may lower the sense of urgency behind efforts to enact tax incentives and other measures to increase the rate of growth in productivity and real GNP.@@@@1@39@@oe@2-2-2013
21294004@unknown@formal@none@1@S@It would also affect the perceptions of the board of governors of the Federal Reserve System, and the informed public generally, as to what constitutes a reasonable degree of price stability.@@@@1@31@@oe@2-2-2013
21294005@unknown@formal@none@1@S@In the early 1980s, I predicted a significant acceleration in productivity growth over the rest of the decade.@@@@1@18@@oe@2-2-2013
21294006@unknown@formal@none@1@S@This forecast was based on the apparent reversal of most of the negative forces -- such as demographic changes, the oil shock and accelerating inflation -- that had reduced productivity gains in the 1970s.@@@@1@34@@oe@2-2-2013
21294007@unknown@formal@none@1@S@There has indeed been more than a one percentage point improvement in productivity growth since 1981.@@@@1@16@@oe@2-2-2013
21294008@unknown@formal@none@1@S@But I had expected more, which is one reason I began looking at evidence suggesting defects in the official output estimates.@@@@1@21@@oe@2-2-2013
21294009@unknown@formal@none@1@S@The evidence does not clearly support the view that the downward bias in output growth has become greater during the 1948-89 period, but all I am claiming is that the growth trend is understated.@@@@1@34@@oe@2-2-2013
21294010@unknown@formal@none@1@S@(It is, however, possible, that further study will reveal increasing bias.)@@@@1@11@@oe@2-2-2013
21294011@unknown@formal@none@1@S@This bias is in no way deliberate.@@@@1@7@@oe@2-2-2013
21294012@unknown@formal@none@1@S@The understatement of growth is due largely to the conservative expedients adopted to deal with deficiencies in basic economic data.@@@@1@20@@oe@2-2-2013
21294013@unknown@formal@none@1@S@The first of three major sources of error is the use of labor input estimates (mainly employment or hours) instead of output estimates for those sectors, such as governments, paid household services and private non-profit institutions, where there are difficulties in assembling output data.@@@@1@44@@oe@2-2-2013
21294014@unknown@formal@none@1@S@This means that no allowance is made for possible increases in output per unit of labor.@@@@1@16@@oe@2-2-2013
21294015@unknown@formal@none@1@S@In an unrelated program in which the Labor Department does estimate output per employee for more than two-thirds of federal civilian employees, it found an average annual rate of productivity improvement of 1.7% during the 1980s.@@@@1@36@@oe@2-2-2013
21294016@unknown@formal@none@1@S@Even if it is assumed that productivity rose no more than half as quickly in the rest of the nonbusiness sector, this Labor Department estimate indicates a downward bias in the real GNP estimates of 0.2 percentage point a year, on average.@@@@1@42@@oe@2-2-2013
21294017@unknown@formal@none@1@S@The federal productivity estimators use labor input, rather than output, data for their calculations of half of private financial and service industries as well.@@@@1@24@@oe@2-2-2013
21294018@unknown@formal@none@1@S@Independent estimates of output in those industries, including one by the Department of Labor for banking, suggests that productivity in finance and services appears to have risen by an average of at least 1.5% a year between 1948 and 1988.@@@@1@40@@oe@2-2-2013
21294019@unknown@formal@none@1@S@Because finance and services contribute 10% to final business product, missing these productivity improvements depresses the overall growth rate by 0.15% a year.@@@@1@23@@oe@2-2-2013
21294020@unknown@formal@none@1@S@The second source of error in growth statistics is the use of inappropriate deflators to adjust for price changes.@@@@1@19@@oe@2-2-2013
21294021@unknown@formal@none@1@S@I estimate that these mismeasurements as detailed by Martin N. Baily and Robert J. Gordon add a further 0.12 percentage point to the downward bias in the growth rate of real business product.@@@@1@33@@oe@2-2-2013
21294022@unknown@formal@none@1@S@Finally, the official estimates understate growth because they make inadequate allowance for improvements in quality of goods and services.@@@@1@19@@oe@2-2-2013
21294023@unknown@formal@none@1@S@In 1985, a new price index for computers adjusted for changes in performance characteristics was introduced, and that resulted in a significantly larger increase in real outlays for durable goods than the earlier estimates had showed.@@@@1@36@@oe@2-2-2013
21294024@unknown@formal@none@1@S@Since then, further research argues that failure to take account of quality improvements has contributed a total of at least 0.26 percentage point to the downward bias in the growth rate.@@@@1@31@@oe@2-2-2013
21294025@unknown@formal@none@1@S@In sum, the biases ennumerated above indicate a 0.7 percentage point understatement in growth of total real GNP.@@@@1@18@@oe@2-2-2013
21294026@unknown@formal@none@1@S@For the private domestic business economy, the bias was a bit over 0.5 percentage point.@@@@1@15@@oe@2-2-2013
21294027@unknown@formal@none@1@S@In other words, the growth rates of both total GNP and real private business product per labor hour have been underestimated by about 20%.@@@@1@24@@oe@2-2-2013
21294028@unknown@formal@none@1@S@Mr. Kendrick is professor emeritus of economics at George Washington University.@@@@1@11@@oe@2-2-2013
21294029@unknown@formal@none@1@S@He is co-author of "Personal Productivity: How to Increase Your Satisfaction in Living" (M.E. Sharp, 1988).@@@@1@16@@oe@2-2-2013
21295001@unknown@formal@none@1@S@Union Carbide Corp. said third-quarter net income plunged 35% from a year earlier on weakness in the company's mainstay chemicals and plastics business.@@@@1@23@@oe@2-2-2013
21295002@unknown@formal@none@1@S@Net was $139 million, or 98 cents a share, for the quarter, compared with $213 million, or $1.56 a share, a year ago.@@@@1@23@@oe@2-2-2013
21295003@unknown@formal@none@1@S@Sales were $2.14 billion, up 1.6% from $2.11 billion the previous year.@@@@1@12@@oe@2-2-2013
21295004@unknown@formal@none@1@S@Carbide, like other companies with a heavy reliance on the so-called commodity end of the chemicals industry, was expected to post earnings sharply lower than in an exceptionally strong 1988 third quarter.@@@@1@32@@oe@2-2-2013
21295005@unknown@formal@none@1@S@But the company's latest quarter was a few pennies a share lower than the more pessimistic projections on Wall Street.@@@@1@20@@oe@2-2-2013
21295006@unknown@formal@none@1@S@"It certainly wasn't a disaster, but it does show weakness" in some of the company's chief markets, said George Krug, a chemicals-industry analyst at Oppenheimer & Co.@@@@1@27@@oe@2-2-2013
21295007@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Carbide closed at $24.50 a share, down 50 cents.@@@@1@16@@oe@2-2-2013
21295008@unknown@formal@none@1@S@Prices for polyethylene, a common plastic and an important Carbide product, started to fall early this year; the slide accelerated in the third quarter as buyers continued to trim inventories.@@@@1@30@@oe@2-2-2013
21295009@unknown@formal@none@1@S@Prices also fell for ethylene oxide and glycols, products used in making antifreeze.@@@@1@13@@oe@2-2-2013
21295010@unknown@formal@none@1@S@Some producers of polyethylene, figuring the inventory reductions are near an end, have announced price boosts.@@@@1@16@@oe@2-2-2013
21295011@unknown@formal@none@1@S@The first real test of whether prices have hit bottom may come in the next several weeks, when the new prices become effective.@@@@1@23@@oe@2-2-2013
21295012@unknown@formal@none@1@S@A Carbide spokesman said "the conditions are right for the increase to hold."@@@@1@13@@oe@2-2-2013
21295013@unknown@formal@none@1@S@For the third quarter, operating profit from Carbide's chemicals and plastics business fell to $238 million from $352 million a year ago, before accounting for taxes and interest expense.@@@@1@29@@oe@2-2-2013
21295014@unknown@formal@none@1@S@Operating profit from carbon products, such as graphite electrodes, also declined, to $6 million from $20 million.@@@@1@17@@oe@2-2-2013
21295015@unknown@formal@none@1@S@In the industrial-gases segment, operating profit climbed to $87 million from $58 million.@@@@1@13@@oe@2-2-2013
21295016@unknown@formal@none@1@S@The latest quarter included a gain of about $62 million on the sale of the company's urethane polyols and propylene glycols businesses.@@@@1@22@@oe@2-2-2013
21295017@unknown@formal@none@1@S@Propylene glycols are used in making personal-care products such as shampoo, and urethane polyols are used in making the polyurethane foam found in furniture cushioning and other products.@@@@1@28@@oe@2-2-2013
21295018@unknown@formal@none@1@S@That gain was mostly offset by a loss of about $55 million from a write-down in its polysilicon business.@@@@1@19@@oe@2-2-2013
21295019@unknown@formal@none@1@S@Polysilicon is used in making integrated circuits.@@@@1@7@@oe@2-2-2013
21295020@unknown@formal@none@1@S@For the nine months, net totaled $526 million, or $3.74 a share, up 5% from $501 million, or $3.71 a share, a year ago.@@@@1@24@@oe@2-2-2013
21295021@unknown@formal@none@1@S@Sales rose 7.7% to $6.66 billion from $6.19 billion.@@@@1@9@@oe@2-2-2013
21296001@unknown@formal@none@1@S@At least 10 states are resisting Drexel Burnham Lambert Inc.'s nationwide effort to settle its legal troubles, and some might instead try to revoke the firm's license to sell securities within their borders.@@@@1@33@@oe@2-2-2013
21296002@unknown@formal@none@1@S@The reluctance of some states to let Drexel off the hook could hamper the firm's attempts to polish its image after its guilty plea to six felonies last month, say several people familiar with the discussions.@@@@1@36@@oe@2-2-2013
21296003@unknown@formal@none@1@S@Up to now, Drexel has made a rapid-fire series of settlements with 25 states and the commonwealth of Puerto Rico.@@@@1@20@@oe@2-2-2013
21296004@unknown@formal@none@1@S@Just yesterday, New Hampshire announced it made a $75,000 settlement with Drexel, a record-tying fine for a securities-law matter in that state.@@@@1@22@@oe@2-2-2013
21296005@unknown@formal@none@1@S@These states have been entering into settlements with Drexel as part of the firm's efforts to operate freely anywhere in the U.S. despite its record as an admitted felon.@@@@1@29@@oe@2-2-2013
21296006@unknown@formal@none@1@S@But individuals familiar with the generally successful Drexel talks say the firm is meeting resistance from some big states, including New Jersey, New York, California, Pennsylvania, Connecticut and Missouri.@@@@1@29@@oe@2-2-2013
21296007@unknown@formal@none@1@S@Officials in some of these states say they don't want to simply accept the settlements offered by Drexel.@@@@1@18@@oe@2-2-2013
21296008@unknown@formal@none@1@S@They question if Drexel is getting easier treatment than the many small penny-stock firms whose brokerage licenses are routinely revoked.@@@@1@20@@oe@2-2-2013
21296009@unknown@formal@none@1@S@Drexel has to settle with state securities regulators in the wake of its criminal guilty plea and a related civil settlement with the Securities and Exchange Commission that includes payment of $650 million in penalties.@@@@1@35@@oe@2-2-2013
21296010@unknown@formal@none@1@S@These stem from a two-year federal investigation of insider trading and securities fraud on Wall Street.@@@@1@16@@oe@2-2-2013
21296011@unknown@formal@none@1@S@Ohio, the District of Columbia, Tennessee and Illinois have been less resistant to Drexel than the other six states, but nonetheless have refused to settle so far, say those familiar with the discussions.@@@@1@33@@oe@2-2-2013
21296012@unknown@formal@none@1@S@Drexel says it doesn't expect any of its state brokerage licenses will be revoked, and even if some are, its securities business wouldn't be directly hurt.@@@@1@26@@oe@2-2-2013
21296013@unknown@formal@none@1@S@It already has sold its retail, or individual-investor, brokerage network; securities firms don't need brokerage licenses for non-retail activities such as investment banking.@@@@1@23@@oe@2-2-2013
21296014@unknown@formal@none@1@S@Still, if nothing else, a revoked brokerage license could be a burden because it must be disclosed in many of the transactions in which Drexel could be involved.@@@@1@28@@oe@2-2-2013
21296015@unknown@formal@none@1@S@Securities regulators praise Drexel for its energetic effort, led by government-approved general counsel Saul S. Cohen, to settle its legal problems with the states.@@@@1@24@@oe@2-2-2013
21296016@unknown@formal@none@1@S@But they disagree about the message these settlements give to the public.@@@@1@12@@oe@2-2-2013
21296017@unknown@formal@none@1@S@"There was a lot of internal debate about that specific issue," said Susan Bryant, Oklahoma's chief securities regulator and president of the North American Securities Administrators Association, which drafted a voluntary settlement plan for the states with Drexel.@@@@1@38@@oe@2-2-2013
21296018@unknown@formal@none@1@S@The question, she said, is whether Drexel should be allowed to pay and move on, or "whether you should (simply) revoke the license when someone is convicted of a felony."@@@@1@30@@oe@2-2-2013
21296019@unknown@formal@none@1@S@While Ms. Bryant's state went ahead and accepted Drexel's settlement offer of $25,000, she said: "I don't have any argument with those who came to different conclusions.@@@@1@27@@oe@2-2-2013
21296020@unknown@formal@none@1@S@I can see both sides."@@@@1@5@@oe@2-2-2013
21296021@unknown@formal@none@1@S@Similarly, Alfred Rubega, New Hampshire's director of securities regulation, said his state hadn't received any complaints about Drexel, so it really couldn't press the issue.@@@@1@25@@oe@2-2-2013
21296022@unknown@formal@none@1@S@Still, "I understand the reasons" that other states are holding out, he said.@@@@1@13@@oe@2-2-2013
21296023@unknown@formal@none@1@S@Mr. Cohen, the Drexel general counsel, said, "I don't think, as we say in investment banking, that `by the end of the day' we'll be losing any licenses."@@@@1@28@@oe@2-2-2013
21296024@unknown@formal@none@1@S@Asked about states that are taking a hard line, he said, "There are states that have asked for additional information, which we are providing to them."@@@@1@26@@oe@2-2-2013
21296025@unknown@formal@none@1@S@Mr. Cohen said more than $2.8 million has been paid to 26 states and that Drexel still expects to pay out a total of $11.5 million.@@@@1@26@@oe@2-2-2013
21296026@unknown@formal@none@1@S@By the end of this week, Drexel should have another three to four settlements, Mr. Cohen said.@@@@1@17@@oe@2-2-2013
21296027@unknown@formal@none@1@S@"The rate we're going, I think that by the end of the month, we're looking to have a total of 30 to 35," he said.@@@@1@25@@oe@2-2-2013
21296028@unknown@formal@none@1@S@That total would be important for Drexel.@@@@1@7@@oe@2-2-2013
21296029@unknown@formal@none@1@S@The investment bank has previously announced that as part of its punishment it would create an independent foundation to promote ethical behavior in the securities industry.@@@@1@26@@oe@2-2-2013
21296030@unknown@formal@none@1@S@A proviso to that promise is that a minimum of 35 states reach settlement agreements before next Tuesday.@@@@1@18@@oe@2-2-2013
21296031@unknown@formal@none@1@S@There are, according to several securities commissioners, at least 16 states that are either close to settlements with Drexel or who don't appear opposed to settling.@@@@1@26@@oe@2-2-2013
21296032@unknown@formal@none@1@S@Drexel's proposed state fines have been based on a state's population and on the size of Drexel's business in the state.@@@@1@21@@oe@2-2-2013
21296033@unknown@formal@none@1@S@New Jersey, for example, was asked to accept $300,000, but refused.@@@@1@11@@oe@2-2-2013
21296034@unknown@formal@none@1@S@The state isn't ruling out revoking Drexel's brokerage license.@@@@1@9@@oe@2-2-2013
21296035@unknown@formal@none@1@S@The state can also bar Drexel as an investment adviser.@@@@1@10@@oe@2-2-2013
21296036@unknown@formal@none@1@S@State officials won't describe their position in detail, but James McLelland Smith, state securities chief, said: "We really are still looking at it and have informed (Drexel) that the proposal is really not sufficient for settlement."@@@@1@36@@oe@2-2-2013
21296037@unknown@formal@none@1@S@Connecticut already has issued a "notice of intent" to revoke Drexel's brokerage license.@@@@1@13@@oe@2-2-2013
21296038@unknown@formal@none@1@S@It is one of the states that have met with Mr. Cohen and asked for additional information about investors' accounts and other matters.@@@@1@23@@oe@2-2-2013
21296039@unknown@formal@none@1@S@"This particular issue goes to the very integrity of the capital-formation market," state Banking Commissioner Howard Brown said.@@@@1@18@@oe@2-2-2013
21296040@unknown@formal@none@1@S@A banking department spokesman added: "Commissioner Brown doesn't feel that money alone is the issue here."@@@@1@16@@oe@2-2-2013
21296041@unknown@formal@none@1@S@Particularly touchy are the cases of New York, which is Drexel's base, and California, the base of Drexel's highly profitable junk-bond operation that led to the firm's legal difficulties.@@@@1@29@@oe@2-2-2013
21296042@unknown@formal@none@1@S@Neither state has settled, and officials in the two states won't discuss their reasons for not doing so.@@@@1@18@@oe@2-2-2013
21296043@unknown@formal@none@1@S@But Drexel has made it clear it could mount a significant legal battle in each state if its license is revoked, according to state officials.@@@@1@25@@oe@2-2-2013
21296044@unknown@formal@none@1@S@Ms. Bryant, the head of the state securities group, said Drexel has done a better job of settling with the states than E.F. Hutton did after its guilty plea to a massive check-kiting scheme several years ago.@@@@1@37@@oe@2-2-2013
21296045@unknown@formal@none@1@S@Still, she said, Drexel's trouble with some states isn't a bad thing.@@@@1@12@@oe@2-2-2013
21296046@unknown@formal@none@1@S@"This process should point out that it's not going to be easy for a firm that's convicted of a felony to immediately jump back into the retail business," Ms. Bryant said.@@@@1@31@@oe@2-2-2013
21296047@unknown@formal@none@1@S@"We need to have somebody worried so they don't do this again."@@@@1@12@@oe@2-2-2013
21296048@unknown@formal@none@1@S@These are the 26 states, including the commonwealth of Puerto Rico, that have settled with Drexel: Alaska, Arkansas, Delaware, Georgia, Hawaii, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Minnesota, Mississippi, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, South Carolina, South Dakota, Utah, Vermont, Washington, Wyoming and Puerto Rico.@@@@1@49@@oe@2-2-2013
21297001@unknown@formal@none@1@S@Time Warner Inc. reported a third-quarter net loss of $176 million, or $2.88 cents a share, reflecting acquisition costs for a 59.3% stake in Warner Communications Inc. and the purchase method of accounting for the transaction.@@@@1@36@@oe@2-2-2013
21297002@unknown@formal@none@1@S@Separately, Warner reported a net loss of $106 million, or 56 cents a share, including merger expenses of $100 million and $120 million in charges associated with stock-appreciation-based compensation plans.@@@@1@30@@oe@2-2-2013
21297003@unknown@formal@none@1@S@Time Warner is in the process of completing its acquisition of the remaining Warner shares.@@@@1@15@@oe@2-2-2013
21297004@unknown@formal@none@1@S@Time Warner emphasized in a news release that it should be evaluated based on its cash flow, which the company defined as earnings before interest, taxes, depreciation and amortization.@@@@1@29@@oe@2-2-2013
21297005@unknown@formal@none@1@S@On a pro-forma basis, assuming the merger was effective Jan 1, 1988, including the results from both Time Inc. and all of Warner, that cash flow figure would be $526 million for the latest quarter, more than double the comparable figure a year ago, or $242 million, according to Time Warner.@@@@1@51@@oe@2-2-2013
21297006@unknown@formal@none@1@S@Some analysts at least are buying that argument, and weren't alarmed by the losses.@@@@1@14@@oe@2-2-2013
21297007@unknown@formal@none@1@S@"What really matters is the operating income of the divisions: I look at these numbers and I say, these businesses are doing well," said Mark Manson, a vice president of Donaldson, Lufkin & Jenrette Securities Corp.@@@@1@36@@oe@2-2-2013
21297008@unknown@formal@none@1@S@"For example, Warner made more than $100 million from filmed entertainment in three months.@@@@1@14@@oe@2-2-2013
21297009@unknown@formal@none@1@S@That's a big number.@@@@1@4@@oe@2-2-2013
21297010@unknown@formal@none@1@S@Warner also had a gain of more than 13% from records and music publishing, even though the domestic record business was sluggish this summer."@@@@1@24@@oe@2-2-2013
21297011@unknown@formal@none@1@S@In the year-ago third quarter, Time on its own reported net income of $81 million, or $1.42 a share.@@@@1@19@@oe@2-2-2013
21297012@unknown@formal@none@1@S@Combined revenue for the latest quarter of Time Warner was $2.2 billion, compared with the year-ago Time revenue of $1.1 billion.@@@@1@21@@oe@2-2-2013
21297013@unknown@formal@none@1@S@On a pro forma basis, including all of Warner's earnings, Time Warner had a third-quarter loss of $217 million, compared with a $342 million loss a year earlier.@@@@1@28@@oe@2-2-2013
21297014@unknown@formal@none@1@S@On the same basis, revenue rose to $2.7 billion from $2.2 billion.@@@@1@12@@oe@2-2-2013
21297015@unknown@formal@none@1@S@For the third quarter, Warner's $106 million loss compared with a year-ago loss of $113 million, or 90 cents a share.@@@@1@21@@oe@2-2-2013
21297016@unknown@formal@none@1@S@Revenue rose to $1.5 billion from $1.1 billion.@@@@1@8@@oe@2-2-2013
21297017@unknown@formal@none@1@S@The 1988 figures were restated to include the results of Lorimar Telepictures Corp., which Warner acquired in January.@@@@1@18@@oe@2-2-2013
21297018@unknown@formal@none@1@S@Time Warner's operating earnings got a boost from Warner's record box-office results.@@@@1@12@@oe@2-2-2013
21297019@unknown@formal@none@1@S@"Batman" alone has racked up more than $247 million in box-office receipts to date, making it Warner Bros.' largest grossing film ever.@@@@1@22@@oe@2-2-2013
21297020@unknown@formal@none@1@S@"Lethal Weapon II" was also a big hit.@@@@1@8@@oe@2-2-2013
21297021@unknown@formal@none@1@S@Warner also contributed record results from its music business, where unit sales of compact discs rose more than 50% from a year ago, the company said, helped by Prince's "Batman" soundtrack.@@@@1@31@@oe@2-2-2013
21297022@unknown@formal@none@1@S@Time Warner said its cable division turned in a 77% increase in operating cash flow, to $166 million from $94 million, reflecting higher per-subscriber revenue.@@@@1@25@@oe@2-2-2013
21297023@unknown@formal@none@1@S@In addition, the 1988 results included a $20 million charge reflecting a reserve for relocation related expenses at American Television & Communications Corp.@@@@1@23@@oe@2-2-2013
21297024@unknown@formal@none@1@S@On the other hand, Time Warner said its operating cash flow declined in the quarter for its magazine division, its books division and the Home Box Office programming division.@@@@1@29@@oe@2-2-2013
21297025@unknown@formal@none@1@S@In magazines, higher advertising revenues at Sports Illustrated and Fortune were offset by lower ad revenue for other major magazines.@@@@1@20@@oe@2-2-2013
21297026@unknown@formal@none@1@S@The programming division saw a decline in operating cash flow because the year-ago quarter included a $12 million dividend from Turner Broadcasting System and because the quarter includes expenses associated with the Nov. 15 launch of HBO's Comedy Channel.@@@@1@39@@oe@2-2-2013
21297027@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Time Warner closed at $138.625 a share, up $1.875, while Warner closed at $63.875 a share, up 12.5 cents.@@@@1@26@@oe@2-2-2013
21298001@unknown@formal@none@1@S@Robert J. Penn, president and chief executive officer, will take early retirement from this steelmaker Dec 31.@@@@1@17@@oe@2-2-2013
21298002@unknown@formal@none@1@S@William S. Leavitt, chairman, said Mr. Penn, 58 years old, would continue as a consultant and would work with the board in selecting a successor.@@@@1@25@@oe@2-2-2013
21298003@unknown@formal@none@1@S@UNR recently emerged from bankruptcy-law proceedings that left 64% of the reorganized company's common stock in the hands of trustees of an asbestos-disease claims trust.@@@@1@25@@oe@2-2-2013
21298004@unknown@formal@none@1@S@The company said it would have no further comment.@@@@1@9@@oe@2-2-2013
21298005@unknown@formal@none@1@S@Mr. Leavitt, 37, was elected chairman earlier this year by the company's new board, having served as vice president for legal and corporate affairs.@@@@1@24@@oe@2-2-2013
21298006@unknown@formal@none@1@S@His father, David S. Leavitt, was chairman and chief executive until his death in an accident five years ago, at which time Mr. Penn was named president.@@@@1@27@@oe@2-2-2013
21299001@unknown@formal@none@1@S@Some House Democrats are trying to head off an appointment by President Bush to the board that oversees the savings-and-loan bailout, contending that the prospective nominee is the head of troubled banks himself.@@@@1@33@@oe@2-2-2013
21299002@unknown@formal@none@1@S@Four Democrats on the House Banking Committee sent President Bush a letter stating their concerns about the expected appointment of James Simmons, an Arizona banker and former fund-raiser for Mr. Bush, to the Oversight Board of the Resolution Trust Corp.@@@@1@40@@oe@2-2-2013
21299003@unknown@formal@none@1@S@The Oversight Board, created in the savings-and-loan law signed in August, sets policy for the RTC, which will sell hundreds of the nation's sick thrifts and billions of dollars of their assets.@@@@1@32@@oe@2-2-2013
21299004@unknown@formal@none@1@S@Treasury Secretary Nicholas Brady, Federal Reserve Board Chairman Alan Greenspan and Housing and Urban Development Secretary Jack Kemp are members of the board.@@@@1@23@@oe@2-2-2013
21299005@unknown@formal@none@1@S@President Bush must appoint two other members, one a Democrat and one a Republican.@@@@1@14@@oe@2-2-2013
21299006@unknown@formal@none@1@S@An administration official confirmed last week that Mr. Simmons, the chairman of Valley National Bank in Phoenix, is the Republican appointee, and that a security clearance was under way.@@@@1@29@@oe@2-2-2013
21299007@unknown@formal@none@1@S@The Democratic appointee hasn't been determined, the official said.@@@@1@9@@oe@2-2-2013
21299008@unknown@formal@none@1@S@Mr. Simmons declined to comment, and the White House said the congressmen's letter is under review.@@@@1@16@@oe@2-2-2013
21299009@unknown@formal@none@1@S@The letter, dated last Thursday, cited the losses at Valley National, and at United Bank, also of Phoenix, where Mr. Simmons was chairman for 29 years.@@@@1@26@@oe@2-2-2013
21299010@unknown@formal@none@1@S@Both banks have been battered, as have other Arizona banks, by falling real estate prices.@@@@1@15@@oe@2-2-2013
21299011@unknown@formal@none@1@S@Valley National, for example, had $470 million in problem assets as of June.@@@@1@13@@oe@2-2-2013
21299012@unknown@formal@none@1@S@"We believe that there are numerous other candidates more qualified for this important position and we encourage you to give them your thorough consideration before making this key RTC appointment," the letter said.@@@@1@33@@oe@2-2-2013
21299013@unknown@formal@none@1@S@"The RTC needs the most able, competent management available."@@@@1@9@@oe@2-2-2013
21299014@unknown@formal@none@1@S@But Mr. Simmons has long ties to both Republicans and banking.@@@@1@11@@oe@2-2-2013
21299015@unknown@formal@none@1@S@He was co-chairman of Mr. Bush's Arizona campaign committee in last year's election, and also worked for Mr. Bush in the 1980 election.@@@@1@23@@oe@2-2-2013
21299016@unknown@formal@none@1@S@The two met more than 30 years ago, when Mr. Simmons worked for Commercial Bank & Trust Co. of Midland, Texas, where Mr. Bush was an organizing director.@@@@1@28@@oe@2-2-2013
21299017@unknown@formal@none@1@S@In 1986, Mr. Simmons also served on a committee of businessmen headed by William Seidman, chairman of the Federal Deposit Insurance Corp. and the Resolution Trust Corp.@@@@1@27@@oe@2-2-2013
21299018@unknown@formal@none@1@S@That committee determined to open Arizona to banking across state lines.@@@@1@11@@oe@2-2-2013
21299019@unknown@formal@none@1@S@Arizona Trend magazine referred to Mr. Simmons this year as one of the 25 most influential people in the state.@@@@1@20@@oe@2-2-2013
21299020@unknown@formal@none@1@S@The letter to Mr. Bush was signed by Reps. Bruce Vento (D., Minn.), the chairman of the Banking Committee's RTC Task Force, Thomas McMillen (D., Md.), Kweisi Mfume (D., Md.) and Paul Kanjorski (D., Pa.).@@@@1@35@@oe@2-2-2013
21300001@unknown@formal@none@1@S@Randolph W. McElroy, a vice chairman of this bank-holding company, was named to the additional position of chairman of its principal unit, Sovran Bank.@@@@1@24@@oe@2-2-2013
21300002@unknown@formal@none@1@S@Mr. McElroy, 54 years old, will remain president and chief executive officer of the unit.@@@@1@15@@oe@2-2-2013
21300003@unknown@formal@none@1@S@Sovran also named John B. Werner a vice chairman of the parent company and the unit and elected him to the newly created position of chief credit officer of Sovran Financial, increasing the number of corporate board members to 35.@@@@1@40@@oe@2-2-2013
21300004@unknown@formal@none@1@S@Mr. Werner, 58, was formerly senior executive vice president of the parent company and the unit.@@@@1@16@@oe@2-2-2013
21301001@unknown@formal@none@1@S@Moody's Investors Service Inc. said it lowered the debt ratings of certain long-term debt held by this company.@@@@1@18@@oe@2-2-2013
21301002@unknown@formal@none@1@S@The debt-rating concern cited the bank's move into the Texas market, noting its profitability and capital adequacy measurements will be depressed relative to the bank's past performance.@@@@1@27@@oe@2-2-2013
21301003@unknown@formal@none@1@S@Moody's also said it raised its rating on the Deposit Insurance Bridge Bank, now known as Bank One, Texas N.A., reflecting the support of other banking affiliates and substantial assistance for the FDIC.@@@@1@33@@oe@2-2-2013
21301004@unknown@formal@none@1@S@Officials at the New York bank-holding company weren't available for comment on the debt-rating changes.@@@@1@15@@oe@2-2-2013
21302001@unknown@formal@none@1@S@At Lloyd's of London, underwriters still scratch out policies using fountain pens and blotting paper.@@@@1@15@@oe@2-2-2013
21302002@unknown@formal@none@1@S@Visitors are ushered into the premises by red-frocked doormen known as waiters, a reminder of the insurance market's origins in a coffeehouse in 17th century London.@@@@1@26@@oe@2-2-2013
21302003@unknown@formal@none@1@S@Such trappings suggest a glorious past but give no hint of a troubled present.@@@@1@14@@oe@2-2-2013
21302004@unknown@formal@none@1@S@Lloyd's, once a pillar of the world insurance market, is being shaken to its very foundation.@@@@1@16@@oe@2-2-2013
21302005@unknown@formal@none@1@S@The 301-year-old exchange is battered by enormous claims from a decade-long run of unprecedented disasters, the most recent of which is last week's earthquake in California's Bay Area.@@@@1@28@@oe@2-2-2013
21302006@unknown@formal@none@1@S@At the same time, Lloyd's is besieged by disgruntled investors and hamstrung by inefficient but time-honored ways of conducting business.@@@@1@20@@oe@2-2-2013
21302007@unknown@formal@none@1@S@The exchange is gradually being squeezed into narrow, less-profitable segments of the market by less hidebound competitors.@@@@1@17@@oe@2-2-2013
21302008@unknown@formal@none@1@S@"Lloyd's is on the ropes," says Peter Nutting, a Lloyd's investor for 17 years who now leads a dissident group threatening to sue exchange underwriters for alleged mismanagement and negligence.@@@@1@30@@oe@2-2-2013
21302009@unknown@formal@none@1@S@"It needs more discipline.@@@@1@4@@oe@2-2-2013
21302010@unknown@formal@none@1@S@It needs to sort itself out."@@@@1@6@@oe@2-2-2013
21302011@unknown@formal@none@1@S@Most troublesome is the shrinking pool of "names," the well-heeled investors (some of them royal) who, as members of about 360 syndicates, underwrite policies.@@@@1@24@@oe@2-2-2013
21302012@unknown@formal@none@1@S@Some 1,750 members quit the exchange last year, more than triple the number of resignations in 1987.@@@@1@17@@oe@2-2-2013
21302013@unknown@formal@none@1@S@Names are resigning at an even faster pace this year.@@@@1@10@@oe@2-2-2013
21302014@unknown@formal@none@1@S@Lackluster returns are one reason.@@@@1@5@@oe@2-2-2013
21302015@unknown@formal@none@1@S@The average after-tax return on investment in 1986, the most recent year for which results are available, was 6.5%, according to Chatset Ltd., an insurance consulting firm in London.@@@@1@29@@oe@2-2-2013
21302016@unknown@formal@none@1@S@In 1985, it was 2.1%.@@@@1@5@@oe@2-2-2013
21302017@unknown@formal@none@1@S@Between 1981 and 1986, the most recent five-year period for which figures are available, Lloyd's reported over #3.6 billion in claims and reserves against future losses ($5.7 billion at today's exchange rates), more than double the #1.35 billion posted in the previous five-year period.@@@@1@44@@oe@2-2-2013
21302018@unknown@formal@none@1@S@Many of the 31,329 investors who remain are beginning to question one of the exchange's most basic tenets, the concept of unlimited personal liability.@@@@1@24@@oe@2-2-2013
21302019@unknown@formal@none@1@S@Investors may reap huge profits when premiums exceed claims, but they are liable to their last pound or dollar in the event of a catastrophe.@@@@1@25@@oe@2-2-2013
21302020@unknown@formal@none@1@S@And catastrophes are getting ever more costly.@@@@1@7@@oe@2-2-2013
21302021@unknown@formal@none@1@S@Lloyd's claims for the 1988 Piper Alpha oil-rig disaster in the North Sea, for instance, may reach $1 billion.@@@@1@19@@oe@2-2-2013
21302022@unknown@formal@none@1@S@During the five-year period ended 1986, roughly 80% of the names had money tied up in money-losing syndicates, according to Chatset consultants.@@@@1@22@@oe@2-2-2013
21302023@unknown@formal@none@1@S@The peril of unlimited liability looms large for a number of them now.@@@@1@13@@oe@2-2-2013
21302024@unknown@formal@none@1@S@"I have wished I could die and be out of it -- that's how bad it is," Betty Atkins, a secretary from suburban London, says.@@@@1@25@@oe@2-2-2013
21302025@unknown@formal@none@1@S@Ms. Atkins, whose Lloyd's membership was a bonus from a former employer in 1981, belongs to Mr. Nutting's dissident group on the Outhwaite syndicate, which has been hard hit by asbestos reinsurance claims.@@@@1@33@@oe@2-2-2013
21302026@unknown@formal@none@1@S@Ms. Atkins, who underwrote #20,000, or about $32,000, of insurance coverage on that syndicate, now faces potential losses of roughly #70,000, or $111,000.@@@@1@23@@oe@2-2-2013
21302027@unknown@formal@none@1@S@"If Lloyd's wants #70,000 out of me they will have to take everything I've got -- and even then I don't know if it will be enough," she says.@@@@1@29@@oe@2-2-2013
21302028@unknown@formal@none@1@S@Unease is widespread among exchange members.@@@@1@6@@oe@2-2-2013
21302029@unknown@formal@none@1@S@"I can't think of any reason to join Lloyd's now," says Keith Whitten, a British businessman and a Lloyd's member since 1979.@@@@1@22@@oe@2-2-2013
21302030@unknown@formal@none@1@S@"The downside is very considerable, and at the moment the upside is very marginal."@@@@1@14@@oe@2-2-2013
21302031@unknown@formal@none@1@S@If profits don't improve, Mr. Whitten says he may quit the exchange.@@@@1@12@@oe@2-2-2013
21302032@unknown@formal@none@1@S@Meanwhile, competition from rivals unencumbered by history is intensifying.@@@@1@9@@oe@2-2-2013
21302033@unknown@formal@none@1@S@Lloyd's is being squeezed out of low-margin but more consistently profitable product lines such as primary property and marine insurance.@@@@1@20@@oe@2-2-2013
21302034@unknown@formal@none@1@S@Over the past decade, competitors have chipped away at the exchange's share of the #2.5 billion marine market in London, where half the world's ships are insured.@@@@1@27@@oe@2-2-2013
21302035@unknown@formal@none@1@S@Lloyd's 66% stake in that market has shrunk to 50% in that period, according to an official at the Institute of London Underwriters, a Lloyd's competitor.@@@@1@26@@oe@2-2-2013
21302036@unknown@formal@none@1@S@(The official asked not to be named.)@@@@1@7@@oe@2-2-2013
21302037@unknown@formal@none@1@S@Much of the business has gone to the institute, an association of more than 100 insurers, including Cigna Corp., Allianz Versicherungs AG of West Germany and Britain's Commercial Union Assurance PLC.@@@@1@31@@oe@2-2-2013
21302038@unknown@formal@none@1@S@Lloyd's has endured decades of genteel decline.@@@@1@7@@oe@2-2-2013
21302039@unknown@formal@none@1@S@At the peak of its power and influence a century ago, Lloyd's dominated the insurance world with a 50% stake.@@@@1@20@@oe@2-2-2013
21302040@unknown@formal@none@1@S@It virtually dictated how ships were to be built and it monitored commerce through a unrivaled intelligence network in ports around the globe.@@@@1@23@@oe@2-2-2013
21302041@unknown@formal@none@1@S@Today, Lloyd's share of the world market, excluding life insurance, is about 2%.@@@@1@13@@oe@2-2-2013
21302042@unknown@formal@none@1@S@(Its stake is even smaller if life insurance is included.)@@@@1@10@@oe@2-2-2013
21302043@unknown@formal@none@1@S@Bigger rivals, such as Aetna and Allianz, backed by armies of statisticians using computers in hundreds of branches, operate more efficiently and often can offer lower rates, brokers say.@@@@1@29@@oe@2-2-2013
21302044@unknown@formal@none@1@S@Though Lloyd's pioneered such now-standard policies as worker's compensation insurance, burglary insurance for homeowners and businesses, and bankers' liability insurance, competitors now underwrite most of that business.@@@@1@27@@oe@2-2-2013
21302045@unknown@formal@none@1@S@Beyond that, many big oil, chemical and airline companies are siphoning off big chunks of the market by insuring themselves through "captive" offshore companies for industry-specific coverage.@@@@1@27@@oe@2-2-2013
21302046@unknown@formal@none@1@S@Even Lloyd's specialty -- unusually risky ventures -- is being challenged.@@@@1@11@@oe@2-2-2013
21302047@unknown@formal@none@1@S@Only 10 years ago, for instance, Lloyd's was the pre-eminent insurer of thoroughbred horses.@@@@1@14@@oe@2-2-2013
21302048@unknown@formal@none@1@S@But since 1981, Kirk Horse Insurance Inc. of Lexington, Ky. has grabbed a 20% stake of the market.@@@@1@18@@oe@2-2-2013
21302049@unknown@formal@none@1@S@Ronald Kirk, president, says Lloyd's has suffered because its structure doesn't allow underwriters to deal directly with clients; brokers are required intermediaries.@@@@1@22@@oe@2-2-2013
21302050@unknown@formal@none@1@S@Thus, he asserts, Lloyd's can't react quickly to competition.@@@@1@9@@oe@2-2-2013
21302051@unknown@formal@none@1@S@"Lloyd's has lost control of the situation," he says.@@@@1@9@@oe@2-2-2013
21302052@unknown@formal@none@1@S@"They aren't controlling their destiny like they used to."@@@@1@9@@oe@2-2-2013
21302053@unknown@formal@none@1@S@Murray Lawrence, Lloyd's chairman, agrees the exchange faces big challenges.@@@@1@10@@oe@2-2-2013
21302054@unknown@formal@none@1@S@"This is a watershed time, and we are trying to plot our way ahead," he says.@@@@1@16@@oe@2-2-2013
21302055@unknown@formal@none@1@S@"We have been a great market for inventing risks which other people then take, copy and cut rates."@@@@1@18@@oe@2-2-2013
21302056@unknown@formal@none@1@S@Lloyd's, he says, is cut off from "the vast body of premium down at the bottom end which acts as a steadying influence" against catastrophic losses.@@@@1@26@@oe@2-2-2013
21302057@unknown@formal@none@1@S@By that, he means low-margin but low-risk products such as certain types of primary property insurance.@@@@1@16@@oe@2-2-2013
21302058@unknown@formal@none@1@S@The exchange, he says, must find new products and new markets.@@@@1@11@@oe@2-2-2013
21302059@unknown@formal@none@1@S@That won't be an easy task.@@@@1@6@@oe@2-2-2013
21302060@unknown@formal@none@1@S@Tradition is dictator at Lloyd's.@@@@1@5@@oe@2-2-2013
21302061@unknown@formal@none@1@S@Three years ago, the exchange took up residence in a space-age tower of steel and glass -- evocative of the kind of modern architecture that Britain's Prince Charles has denounced.@@@@1@30@@oe@2-2-2013
21302062@unknown@formal@none@1@S@(Some exchange wags call the building "the oil rig.")@@@@1@9@@oe@2-2-2013
21302063@unknown@formal@none@1@S@But along with such treasured artifacts as Lord Nelson's spyglass, Lloyd's also brought its outmoded ways of doing business.@@@@1@19@@oe@2-2-2013
21302064@unknown@formal@none@1@S@The Lloyd's market actively underwrites insurance just 4 1/2 hours a day, brokers say.@@@@1@14@@oe@2-2-2013
21302065@unknown@formal@none@1@S@Underwriting doesn't get under way until after morning tea at 10 a.m.@@@@1@12@@oe@2-2-2013
21302066@unknown@formal@none@1@S@A two-hour lunch break follows.@@@@1@5@@oe@2-2-2013
21302067@unknown@formal@none@1@S@Things wind down at about 4:30 p.m., just in time for afternoon tea.@@@@1@13@@oe@2-2-2013
21302068@unknown@formal@none@1@S@Lloyd's vast trading hall houses a warren of well-polished desks.@@@@1@10@@oe@2-2-2013
21302069@unknown@formal@none@1@S@The hall's few computers are used mostly to send messages.@@@@1@10@@oe@2-2-2013
21302070@unknown@formal@none@1@S@Sandwiched between desks, underwriters sit on benches surrounded by stacks of policies.@@@@1@12@@oe@2-2-2013
21302071@unknown@formal@none@1@S@Brokers clutching thick folders stand in lines, waiting their turn to speak to the underwriters.@@@@1@15@@oe@2-2-2013
21302072@unknown@formal@none@1@S@A broker may have to approach as many as 20 underwriters who insure the endeavors on behalf of the syndicates.@@@@1@20@@oe@2-2-2013
21302073@unknown@formal@none@1@S@It could take six months for a claim to be paid.@@@@1@11@@oe@2-2-2013
21302074@unknown@formal@none@1@S@"The system," says Nicholas Samengo-Turner, a Lloyd's broker who left the exchange in 1985, "is so ludicrously unprofessional it drives you mad."@@@@1@22@@oe@2-2-2013
21302075@unknown@formal@none@1@S@Some maintain underwriters also have been inept.@@@@1@7@@oe@2-2-2013
21302076@unknown@formal@none@1@S@John Wetherell, a Lloyd's underwriter, says he and his fellow underwriters underestimated by as much as 50% the premiums they should have charged for property risks from 1980 to 1985.@@@@1@30@@oe@2-2-2013
21302077@unknown@formal@none@1@S@"How unprofessional we must have appeared to the outside world -- how incompetent at risk assessment and evaluation," he says.@@@@1@20@@oe@2-2-2013
21302078@unknown@formal@none@1@S@Lloyd's officials decline to comment on the matter.@@@@1@8@@oe@2-2-2013
21302079@unknown@formal@none@1@S@More recently, property rates have increased.@@@@1@6@@oe@2-2-2013
21302080@unknown@formal@none@1@S@Many at Lloyd's expect the San Francisco earthquake will cause the industry to boost rates even further.@@@@1@17@@oe@2-2-2013
21302081@unknown@formal@none@1@S@But it will be years before it is clear whether higher rates will offset the payouts for such disasters.@@@@1@19@@oe@2-2-2013
21302082@unknown@formal@none@1@S@The magnitude of the exchange's problems may not become known for some time because of Lloyd's practice of leaving the books open for three years to allow for the settlement of claims.@@@@1@32@@oe@2-2-2013
21302083@unknown@formal@none@1@S@Lloyd's only recently reported its financial results for 1986.@@@@1@9@@oe@2-2-2013
21302084@unknown@formal@none@1@S@That year, it posted record pretax profit of #650 million, a gain it attributes to higher rates and fewer claims.@@@@1@20@@oe@2-2-2013
21302085@unknown@formal@none@1@S@But Mr. Lawrence says reported profit will be down in 1987, 1988 and 1989, though he declines to specify how steep the decline will be.@@@@1@25@@oe@2-2-2013
21302086@unknown@formal@none@1@S@Insurance analysts say the exchange's downturn in profitability is likely to be aggravated by more than $600 million in aviation losses (including the 1988 Pan Am airline disaster over Lockerbie, Scotland) and a still-uncalculated chunk of claims from September's Hurricane Hugo.@@@@1@41@@oe@2-2-2013
21302087@unknown@formal@none@1@S@Lloyd's says the departures of names isn't likely to hurt its underwriting capacity, currently about #11 billion.@@@@1@17@@oe@2-2-2013
21302088@unknown@formal@none@1@S@Mr. Lawrence says the drain of funds has been offset by an increase in investments by the remaining names.@@@@1@19@@oe@2-2-2013
21302089@unknown@formal@none@1@S@Meanwhile, the exchange has been trying to lower costs.@@@@1@9@@oe@2-2-2013
21302090@unknown@formal@none@1@S@(It recently cut its work force by 9%, or 213.)@@@@1@10@@oe@2-2-2013
21302091@unknown@formal@none@1@S@But Lloyd's is hampered in its efforts to overhaul operations by its reluctance to embrace modern technology.@@@@1@17@@oe@2-2-2013
21302092@unknown@formal@none@1@S@Mr. Wetherell, the underwriter, reckons half of his business could be transacted by computer, cutting costs at least 10%.@@@@1@19@@oe@2-2-2013
21302093@unknown@formal@none@1@S@Though Lloyd's has talked for years about computerizing underwriting transactions, the effort hasn't gotten very far.@@@@1@16@@oe@2-2-2013
21302094@unknown@formal@none@1@S@Competition among underwriters and brokers makes them loath to centralize price and policy information.@@@@1@14@@oe@2-2-2013
21302095@unknown@formal@none@1@S@Both groups cling to traditional face-to-face dealings, even for routine policies.@@@@1@11@@oe@2-2-2013
21302096@unknown@formal@none@1@S@Lloyd's overblown bureaucracy also hampers efforts to update marketing strategies.@@@@1@10@@oe@2-2-2013
21302097@unknown@formal@none@1@S@Some underwriters have been pressing for years to tap the low-margin business by selling some policies directly to consumers.@@@@1@19@@oe@2-2-2013
21302098@unknown@formal@none@1@S@Lloyd's presently sells only auto insurance directly to the public, and such policies are sold only in limited markets such as the U.K. and Canada.@@@@1@25@@oe@2-2-2013
21302099@unknown@formal@none@1@S@But such changes must be cleared by four internal committees and dozens of underwriters, brokers and administrators before being implemented.@@@@1@20@@oe@2-2-2013
21302100@unknown@formal@none@1@S@The proposal to sell directly to the public remains mired in bureaucratic quicksand.@@@@1@13@@oe@2-2-2013
21302101@unknown@formal@none@1@S@Lloyd's is moving forward on some fronts, though.@@@@1@8@@oe@2-2-2013
21302102@unknown@formal@none@1@S@Mr. Lawrence says the exchange is updating some procedures to make speedier payments on claims.@@@@1@15@@oe@2-2-2013
21302103@unknown@formal@none@1@S@By next year, all underwriters will be linked to a communications network that could reduce paper work on claims.@@@@1@19@@oe@2-2-2013
21303001@unknown@formal@none@1@S@Japan's Daiwa Securities Co. named Masahiro Dozen president.@@@@1@8@@oe@2-2-2013
21303002@unknown@formal@none@1@S@Mr. Dozen succeeds Sadakane Doi, who will become vice chairman.@@@@1@10@@oe@2-2-2013
21303003@unknown@formal@none@1@S@Yoshitoki Chino retains his title of chairman of Daiwa, Japan's second-largest securities firm.@@@@1@13@@oe@2-2-2013
21303004@unknown@formal@none@1@S@In Japanese firms, the president usually is in charge of day-to-day operations, while the chairman's role is more a ceremonial one.@@@@1@21@@oe@2-2-2013
21303005@unknown@formal@none@1@S@The title of chief executive officer isn't used.@@@@1@8@@oe@2-2-2013
21303006@unknown@formal@none@1@S@While people within Daiwa, particularly internationalists, expected that Mr. Dozen, 52, would eventually become Daiwa's president, the speed of his promotion surprised many.@@@@1@23@@oe@2-2-2013
21303007@unknown@formal@none@1@S@It was only earlier this year that the jovial, easygoing executive -- he likes to joke with Americans about how his name is synonymous with twelve -- was appointed deputy president.@@@@1@31@@oe@2-2-2013
21303008@unknown@formal@none@1@S@Mr. Dozen is taking over the reins of a securities company that does very well in its domestic market but that is still seeking to realize its potential in global investment banking and securities dealing.@@@@1@35@@oe@2-2-2013
21303009@unknown@formal@none@1@S@Daiwa is one of the world's largest securities firms.@@@@1@9@@oe@2-2-2013
21303010@unknown@formal@none@1@S@As of March 31, the Daiwa group had shareholder equity of 801.21 billion yen ($5.64 billion).@@@@1@16@@oe@2-2-2013
21303011@unknown@formal@none@1@S@For the six months ended Sept. 30, Daiwa reported unconsolidated (parent company) net income of 79.03 billion yen ($556.5 million) on revenue of 332.38 billion yen ($2.34 billion).@@@@1@28@@oe@2-2-2013
21303012@unknown@formal@none@1@S@Both figures were record highs.@@@@1@5@@oe@2-2-2013
21303013@unknown@formal@none@1@S@Several observers interpreted Mr. Dozen's appointment as an attempt by Daiwa to make its international operations more profitable while preparing the firm for the effects of the continuing deregulation of Japan's domestic markets, which should mean increased competition.@@@@1@38@@oe@2-2-2013
21303014@unknown@formal@none@1@S@All of Japan's so-called Big Four securities firms -- Nomura Securities Co. Ltd., the world's largest, Nikko Securities Co. Ltd., Yamaichi Securities Co. Ltd. and Daiwa -- have suffered setbacks in their attempts to break into foreign markets.@@@@1@38@@oe@2-2-2013
21303015@unknown@formal@none@1@S@While they have moved to the fore in underwriting fixed-income securities in the Eurobond market -- mostly for Japanese firms -- they have been only marginally profitable, if at all, in the U.S.@@@@1@33@@oe@2-2-2013
21303016@unknown@formal@none@1@S@American institutional investors have never had a large appetite for Japanese equities.@@@@1@12@@oe@2-2-2013
21303017@unknown@formal@none@1@S@And while the Japanese have stepped up their purchases of U.S. shares in the past several months, they have shown themselves in the past to be fickle investors.@@@@1@28@@oe@2-2-2013
21303018@unknown@formal@none@1@S@At the same time, Daiwa and its brethren have faced stiff competition from well-entrenched American competitors that have prevented them from building strong links to U.S. corporations and institutional investors.@@@@1@30@@oe@2-2-2013
21303019@unknown@formal@none@1@S@Mr. Dozen knows these problems firsthand.@@@@1@6@@oe@2-2-2013
21303020@unknown@formal@none@1@S@When he arrived in the U.S. in 1969 -- the start of an eight-year tour -- he tried selling Japanese yen-denominated bonds to U.S. investors.@@@@1@25@@oe@2-2-2013
21303021@unknown@formal@none@1@S@"He made desperate efforts, using the yellow pages from beginning to end," said Koji Yoneyama, president of Daiwa's U.S. unit.@@@@1@20@@oe@2-2-2013
21303022@unknown@formal@none@1@S@"But not a single piece of paper was sold."@@@@1@9@@oe@2-2-2013
21303023@unknown@formal@none@1@S@By his own account, Mr. Dozen didn't do much better with U.S. bonds.@@@@1@13@@oe@2-2-2013
21303024@unknown@formal@none@1@S@In an interview a few months ago, he recalled how after some training at Salomon Brothers Inc., he successfully bid for the opportunity to sell portions of 20 U.S. corporate bond issues.@@@@1@32@@oe@2-2-2013
21303025@unknown@formal@none@1@S@But he couldn't sell any.@@@@1@5@@oe@2-2-2013
21303026@unknown@formal@none@1@S@"Japanese stock salesmen selling American bonds?@@@@1@6@@oe@2-2-2013
21303027@unknown@formal@none@1@S@Maybe it's crazy," he said.@@@@1@5@@oe@2-2-2013
21303028@unknown@formal@none@1@S@Mr. Dozen even related the indignity suffered when he and two colleagues went on an overnight fishing expedition off the New Jersey shore and caught nothing.@@@@1@26@@oe@2-2-2013
21303029@unknown@formal@none@1@S@Upon returning to New York, "Exhausted, I got into a taxicab, and the woman driver said: `Americans make better fishermen,'" he recalled.@@@@1@22@@oe@2-2-2013
21303030@unknown@formal@none@1@S@Undaunted, Mr. Dozen said that Daiwa's goal is to build "a high-technology oriented international organization with maybe some Japanese flavor to it."@@@@1@22@@oe@2-2-2013
21303031@unknown@formal@none@1@S@He said that he was particularly interested in his firm gaining expertise in futures, options, mortgaged-backed securities, computerized trading and investment systems as well as mergers and acquisitions.@@@@1@28@@oe@2-2-2013
21303032@unknown@formal@none@1@S@Mr. Dozen said Daiwa's strengths were its large capital base, its influential position in the Tokyo market and its links to Japanese corporations and institutional investors.@@@@1@26@@oe@2-2-2013
21303033@unknown@formal@none@1@S@Mr. Dozen joined Daiwa upon his graduation from Kyoto University in 1959.@@@@1@12@@oe@2-2-2013
21303034@unknown@formal@none@1@S@Like many young recruits in Japanese securities firms, he began his career peddling stock to individual investors.@@@@1@17@@oe@2-2-2013
21303035@unknown@formal@none@1@S@In his climb to the top, Mr. Dozen also headed the company's stock-exchange division, its fixed-income units and its international operations.@@@@1@21@@oe@2-2-2013
21303036@unknown@formal@none@1@S@"He was constantly picking up new things to fill out his experience; he is very well-balanced," said Takuro Isoda, chairman of Daiwa's U.S. unit in New York.@@@@1@27@@oe@2-2-2013
21303037@unknown@formal@none@1@S@But it Mr. Dozen's experience as a salesman that enabled him to gain the political support -- particularly from the retail sales force -- to accede to the presidency.@@@@1@29@@oe@2-2-2013
21303038@unknown@formal@none@1@S@Commission income from domestic stock and bond sales accounts form a large portion of Japanese securities companies' earnings.@@@@1@18@@oe@2-2-2013
21303039@unknown@formal@none@1@S@And anybody who lacked the backing of the retail sales force "would be fragile," said a Daiwa executive.@@@@1@18@@oe@2-2-2013
21303040@unknown@formal@none@1@S@If Mr. Dozen has a weakness, it may be his golf game.@@@@1@12@@oe@2-2-2013
21303041@unknown@formal@none@1@S@"He digs in the sand instead of hitting the ball, like a farmer," said Mr. Yoneyama.@@@@1@16@@oe@2-2-2013
21304001@unknown@formal@none@1@S@Inco Ltd. posted a 35% decline in third-quarter net income, a performance that was in line with analysts' expectations.@@@@1@19@@oe@2-2-2013
21304002@unknown@formal@none@1@S@The nickel producer also raised its quarterly dividend to 25 cents a share from 20 cents and said it may buy back as much as 4.8% of its common outstanding.@@@@1@30@@oe@2-2-2013
21304003@unknown@formal@none@1@S@Inco shares fell after the announcements.@@@@1@6@@oe@2-2-2013
21304004@unknown@formal@none@1@S@Analysts said some investors were disappointed that the cash-rich company had failed to announce a special dividend.@@@@1@17@@oe@2-2-2013
21304005@unknown@formal@none@1@S@Inco closed at $31.125 a share, down 62.5 cents, in New York Stock Exchange composite trading.@@@@1@16@@oe@2-2-2013
21304006@unknown@formal@none@1@S@Some analysts said Inco, which had cash reserves of $272 million as of Sept. 30, could still announce a special dividend in the next few months, though it would be smaller than the $10-a-share special dividend it paid last year.@@@@1@40@@oe@2-2-2013
21304007@unknown@formal@none@1@S@The quarterly dividend is payable Dec. 1 to shares of record Nov. 3.@@@@1@13@@oe@2-2-2013
21304008@unknown@formal@none@1@S@Inco's net fell to $129.3 million, or $1.23 a share, in the third quarter from $200.3 million, or $1.88 a share, a year earlier.@@@@1@24@@oe@2-2-2013
21304009@unknown@formal@none@1@S@Sales rose 8.2% to $848.7 million from $784.5 million.@@@@1@9@@oe@2-2-2013
21304010@unknown@formal@none@1@S@Excluding special gains from tax-loss carry-forwards, earnings in the latest quarter were $117.7 million, or $1.12 a share, compared with $187.4 million, or $1.76 a share.@@@@1@26@@oe@2-2-2013
21304011@unknown@formal@none@1@S@Inco said the drop in earnings resulted mainly from lower nickel prices for the period and a temporary cut in nickel output at the company's Manitoba operations due to high levels of arsenic in the ore.@@@@1@36@@oe@2-2-2013
21304012@unknown@formal@none@1@S@Inco said it plans to buy back as many as five million common shares over the next 12 months if nickel market conditions are favorable.@@@@1@25@@oe@2-2-2013
21304013@unknown@formal@none@1@S@Under a previous buyback program, Inco has purchased 1.7 million of its shares since April.@@@@1@15@@oe@2-2-2013
21305001@unknown@formal@none@1@S@UAL Corp.'s board quashed any prospects for an immediate revival of a labor-management buy-out, saying United Airlines' parent should remain independent for now.@@@@1@23@@oe@2-2-2013
21305002@unknown@formal@none@1@S@As a result, UAL's chairman, Stephen M. Wolf, pulled out of the buy-out effort to focus on running the company.@@@@1@20@@oe@2-2-2013
21305003@unknown@formal@none@1@S@The two developments put the acquisition attempt back to square one and leaves the airline with an array of unresolved matters, including an unsettled labor situation and a management scrambling to restore its damaged credibility.@@@@1@35@@oe@2-2-2013
21305004@unknown@formal@none@1@S@The effort to create the nation's largest employee-owned company began unraveling Oct. 13 when the labor-management group was unable to obtain financing for its $300-a-share, $6.79 billion offer.@@@@1@28@@oe@2-2-2013
21305005@unknown@formal@none@1@S@Just last week it suffered another major setback when British Airways PLC, the largest equity investor in the labor-management bid, withdrew its support.@@@@1@23@@oe@2-2-2013
21305006@unknown@formal@none@1@S@Takeover stock traders, focusing on the company's intention to stay independent, took the announcement as bad news.@@@@1@17@@oe@2-2-2013
21305007@unknown@formal@none@1@S@UAL, which had risen $9.875 to $178.375 in composite trading on the New York Stock Exchange on reports of a new bid being prepared by the group, reversed course and plummeted in off-exchange trading after the 5:09 p.m. EDT announcement.@@@@1@40@@oe@2-2-2013
21305008@unknown@formal@none@1@S@Among the first trades reported by the securities firm of Jefferies & Co., which makes a market in UAL after the exchange is closed, were 10,000 shares at $170, 6,000 shares at $162, 2,500 at $162, and 10,000 at $158.@@@@1@40@@oe@2-2-2013
21305009@unknown@formal@none@1@S@The rebound in UAL stock during regular trading hours Monday was its first daily gain after six consecutive losses left the price 41% below its level before Oct. 13, the day the group announced the bank financing couldn't be obtained for the original deal.@@@@1@44@@oe@2-2-2013
21305010@unknown@formal@none@1@S@Twelve of UAL's outside directors met at a five-hour meeting yesterday in Chicago to consider an informal proposal from the buy-out group for a revised bid.@@@@1@26@@oe@2-2-2013
21305011@unknown@formal@none@1@S@But the board said it wasn't interested for now.@@@@1@9@@oe@2-2-2013
21305012@unknown@formal@none@1@S@That proposal, valued at between $225 and $240 a share, would have transferred majority ownership to employees while leaving some stock in public hands.@@@@1@24@@oe@2-2-2013
21305013@unknown@formal@none@1@S@The buy-out group had no firm financing for the plan.@@@@1@10@@oe@2-2-2013
21305014@unknown@formal@none@1@S@And, with no other offers on the table, the board apparently felt no pressure to act on it.@@@@1@18@@oe@2-2-2013
21305015@unknown@formal@none@1@S@The directors signaled, however, that they would be willing to consider future offers or take some other action to maximize shareholder value, saying they would continue to explore "all strategic and financial alternatives."@@@@1@33@@oe@2-2-2013
21305016@unknown@formal@none@1@S@But it was clear that for the time being, the board wants the company to return to normalcy.@@@@1@18@@oe@2-2-2013
21305017@unknown@formal@none@1@S@The board said it concluded that "the welfare of the company, its shareholders, its employees and the broader public . . . can best be enhanced by continued development of UAL as a strong, viable, independent company."@@@@1@37@@oe@2-2-2013
21305018@unknown@formal@none@1@S@Mr. Wolf urged all employees to "now turn their full attention" to operating the airline.@@@@1@15@@oe@2-2-2013
21305019@unknown@formal@none@1@S@He also vowed to "make every effort to nurture . . . a constructive new relationship that has been forged with participating employee groups."@@@@1@24@@oe@2-2-2013
21305020@unknown@formal@none@1@S@But Mr. Wolf faces a monumental task in pulling the company back together again.@@@@1@14@@oe@2-2-2013
21305021@unknown@formal@none@1@S@Labor problems top the list.@@@@1@5@@oe@2-2-2013
21305022@unknown@formal@none@1@S@For a brief time, the buy-out effort seemed to solve his problems with United's pilot union.@@@@1@16@@oe@2-2-2013
21305023@unknown@formal@none@1@S@In return for an ownership stake in the company, the pilots were willing to agree to a seven-year contract that included a no-strike clause and significant wage concessions and productivity gains the union previously resisted.@@@@1@35@@oe@2-2-2013
21305024@unknown@formal@none@1@S@That contract was tied to the success of the buy-out.@@@@1@10@@oe@2-2-2013
21305025@unknown@formal@none@1@S@As a "good-will measure," the pilots had been working four extra hours a month and had agreed to fly UAL's two new Boeing 747-400 aircraft.@@@@1@25@@oe@2-2-2013
21305026@unknown@formal@none@1@S@It's uncertain if the pilots will continue to do so without a contract settlement.@@@@1@14@@oe@2-2-2013
21305027@unknown@formal@none@1@S@The union said late last night that it is still committed to majority employee ownership and that the labor disputes that faced the company prior to the buy-out effort "still need to be addressed."@@@@1@34@@oe@2-2-2013
21305028@unknown@formal@none@1@S@The buy-out effort also worsened already-strained relations between United's pilot and machinist unions.@@@@1@13@@oe@2-2-2013
21305029@unknown@formal@none@1@S@The machinists' criticisms of the labor-management bid and their threats of a strike unless they received substantial wage increases this year helped cool banks' interest in financing the transaction.@@@@1@29@@oe@2-2-2013
21305030@unknown@formal@none@1@S@The machinists previously had shown themselves to be an ally to Mr. Wolf, but he lost much of his credibility with that group when he teamed up with the pilot union.@@@@1@31@@oe@2-2-2013
21305031@unknown@formal@none@1@S@The machinists criticized the terms Mr. Wolf and management received in the buy-out.@@@@1@13@@oe@2-2-2013
21305032@unknown@formal@none@1@S@They paid $15 million for a 1% stake and received an additional 9% of the company at no additional cost.@@@@1@20@@oe@2-2-2013
21305033@unknown@formal@none@1@S@His credibility is also on the line in the investment community.@@@@1@11@@oe@2-2-2013
21305034@unknown@formal@none@1@S@Until the collapse of this bid, Mr. Wolf was regarded as one of the nation's savviest airline executives after engineering turnarounds of Tiger International Inc. and Republic Airlines.@@@@1@28@@oe@2-2-2013
21305035@unknown@formal@none@1@S@But he and his chief financial officer, John Pope, sowed some of the seeds for the deal's failure by insisting banks accept low financing fees and interest rates, while they invested in the transaction only a small fraction of the $114.3 million they stood to gain from sale of their UAL stock and options.@@@@1@54@@oe@2-2-2013
21305036@unknown@formal@none@1@S@The board's actions leave takeover stock traders nursing some $700 million in losses and eager to respond to anyone who might make a new offer.@@@@1@25@@oe@2-2-2013
21305037@unknown@formal@none@1@S@It also inevitably leaves a residue of shareholder lawsuits.@@@@1@9@@oe@2-2-2013
21305038@unknown@formal@none@1@S@Arbitragers said they were disappointed the company didn't announce some recapitalization or other plan to maximize value.@@@@1@17@@oe@2-2-2013
21305039@unknown@formal@none@1@S@One takeover expert noted that arbitragers could force a recapitalization through the written consent process under which holders may oust the board by a majority vote.@@@@1@26@@oe@2-2-2013
21305040@unknown@formal@none@1@S@The machinists union has suggested it may propose a recapitalization that includes a special dividend for holders and a minority ownership stake for employees.@@@@1@24@@oe@2-2-2013
21305041@unknown@formal@none@1@S@Los Angeles investor Marvin Davis, whose $240-a-share offer for UAL in August triggered a bidding war, says he remains interested in the airline.@@@@1@23@@oe@2-2-2013
21305042@unknown@formal@none@1@S@However, he is restricted from making certain hostile moves by an agreement he signed to obtain confidential UAL data.@@@@1@19@@oe@2-2-2013
21305043@unknown@formal@none@1@S@Essentially, he can't make any hostile moves unless he makes a tender offer at least $300 a share.@@@@1@18@@oe@2-2-2013
21306001@unknown@formal@none@1@S@Tandy Corp. said it won't join U.S. Memories, the group that seeks to battle the Japanese in the market for computer memory chips.@@@@1@23@@oe@2-2-2013
21306002@unknown@formal@none@1@S@Tandy's decision is a second setback for U.S. Memories.@@@@1@9@@oe@2-2-2013
21306003@unknown@formal@none@1@S@Last month, Apple Computer Inc. said that it wouldn't invest in the group.@@@@1@13@@oe@2-2-2013
21306004@unknown@formal@none@1@S@Apple said that its money would be better spent in areas such as research and development.@@@@1@16@@oe@2-2-2013
21306005@unknown@formal@none@1@S@U.S. Memories is seeking major investors to back its attempt to crack the $10 billion market for dynamic random access memory chips, a market dominated by the Japanese.@@@@1@28@@oe@2-2-2013
21306006@unknown@formal@none@1@S@Those chips were in dire shortage last year, hurting many U.S. computer companies that couldn't get sufficient Japanese-supplied chips.@@@@1@19@@oe@2-2-2013
21306007@unknown@formal@none@1@S@Tandy said its experience during the shortage didn't merit the $5 million to $50 million investment U.S. Memories is seeking from each investor.@@@@1@23@@oe@2-2-2013
21306008@unknown@formal@none@1@S@"At this time, we elected not to get involved because we have been able to satisfy our need {for DRAMs} from the market as a rule," said Ed Juge, Tandy's director of market planning.@@@@1@34@@oe@2-2-2013
21306009@unknown@formal@none@1@S@Sanford Kane, U.S. Memories president, said the decision was "disappointing," but doesn't presage U.S. Memories' failure.@@@@1@16@@oe@2-2-2013
21306010@unknown@formal@none@1@S@"I would like to have had them," he said.@@@@1@9@@oe@2-2-2013
21306011@unknown@formal@none@1@S@But "they weren't on my list of companies who were critical to be a part of it."@@@@1@17@@oe@2-2-2013
21306012@unknown@formal@none@1@S@Mr. Kane became president and chief executive officer of U.S. Memories last June, when the group was formed by seven electronics companies: Advanced Micro Devices Inc., Digital Equipment Corp.; Hewlett-Packard Co.; Intel Corp.; International Business Machines Corp.; LSI Logic Corp. and National Semiconductor Corp.@@@@1@44@@oe@2-2-2013
21306013@unknown@formal@none@1@S@Mr. Kane said he expects two or three major corporations to announce their participation in U.S. Memories soon after the group finishes a business plan, probably late this week.@@@@1@29@@oe@2-2-2013
21306014@unknown@formal@none@1@S@U.S. Memories needs a catalyst, he said, to inspire others to join.@@@@1@12@@oe@2-2-2013
21306015@unknown@formal@none@1@S@But so far, most potential participants haven't decided.@@@@1@8@@oe@2-2-2013
21306016@unknown@formal@none@1@S@Sun Microsystems Inc. said it's still actively evaluating U.S. Memories and plans to meet with U.S. Memories representatives later this week.@@@@1@21@@oe@2-2-2013
21306017@unknown@formal@none@1@S@American Telephone & Telegraph Co. said it was waiting to see U.S. Memories' business plan.@@@@1@15@@oe@2-2-2013
21306018@unknown@formal@none@1@S@Personal-computer maker AST Research Inc. said it is still studying the situation.@@@@1@12@@oe@2-2-2013
21306019@unknown@formal@none@1@S@A Compaq Computer Corp. spokeswoman said that the company hasn't made a decision yet, although "it isn't under active consideration.@@@@1@20@@oe@2-2-2013
21307001@unknown@formal@none@1@S@In a startling turnabout, Members of the Senate Intelligence Committee are complaining that someone in the executive branch is leaking on them.@@@@1@22@@oe@2-2-2013
21307002@unknown@formal@none@1@S@David Boren, the Intelligence Committee chairman, is upset that someone leaked a letter to the committee from the Reagan administration suggesting that the U.S. would undertake to warn Panamanian thug Manuel Noriega if it got wind of an impending coup that might result in his assassination.@@@@1@46@@oe@2-2-2013
21307003@unknown@formal@none@1@S@With due respect to "highly classified correspondence" and other buzzwords, the leakers are performing a public service.@@@@1@17@@oe@2-2-2013
21307004@unknown@formal@none@1@S@If the CIA has become a protection service for Mr. Noriega, the American people ought to know.@@@@1@17@@oe@2-2-2013
21307005@unknown@formal@none@1@S@What went wrong in Panama is a fitting subject for public and congressional inquiry.@@@@1@14@@oe@2-2-2013
21307006@unknown@formal@none@1@S@Naturally, Senator Boren and his committee would like free rein to blame the executive branch while stamping "top secret" on their own complicity.@@@@1@23@@oe@2-2-2013
21307007@unknown@formal@none@1@S@But there's no danger of exposing sources and methods in disclosing the debate running up and down Pennsylvania Avenue.@@@@1@19@@oe@2-2-2013
21307008@unknown@formal@none@1@S@And if Congress is going to assume authority to micromanage foreign policy, it's going to have to take some of the responsibility too.@@@@1@23@@oe@2-2-2013
21307009@unknown@formal@none@1@S@The President of the United States urged the Panamanian armed forces to move against Mr. Noriega.@@@@1@16@@oe@2-2-2013
21307010@unknown@formal@none@1@S@When they did, his commanders didn't have the initiative to do more than block a couple of roads.@@@@1@18@@oe@2-2-2013
21307011@unknown@formal@none@1@S@The executive branch bears the first responsibility for timidity.@@@@1@9@@oe@2-2-2013
21307012@unknown@formal@none@1@S@But what kind of initiative can you expect given the climate set by Congress?@@@@1@14@@oe@2-2-2013
21307013@unknown@formal@none@1@S@For example, what exactly did the CIA tell Major Giroldi and his fellow coup plotters about U.S. laws and executive orders on assassinations?@@@@1@23@@oe@2-2-2013
21307014@unknown@formal@none@1@S@What part did U.S. warnings play in the major's unwillingness to pull the trigger when he had General Noriega in custody, but was under attack by pro-Noriega troops?@@@@1@28@@oe@2-2-2013
21307015@unknown@formal@none@1@S@Mr. Noriega didn't suffer from any hesitation once he had the pistol.@@@@1@12@@oe@2-2-2013
21307016@unknown@formal@none@1@S@Maybe we need a CIA version of the Miranda warning: You have the right to conceal your coup intentions, because we may rat on you.@@@@1@25@@oe@2-2-2013
21307017@unknown@formal@none@1@S@Or maybe a Surgeon General's warning: Confiding in the United States may be fatal.@@@@1@14@@oe@2-2-2013
21307018@unknown@formal@none@1@S@CIA chief William Webster, hardly a Washington malcontent, got the debate started last week by noting that the executive order banning assassinations had contributed to U.S. paralysis during the coup.@@@@1@30@@oe@2-2-2013
21307019@unknown@formal@none@1@S@The CIA's Deputy Director of Operations, Richard Stoltz, tried to smooth things over a few days later, but instead simply underlined Mr. Webster's point.@@@@1@24@@oe@2-2-2013
21307020@unknown@formal@none@1@S@"The interpretation" of the executive order, Mr. Stoltz said, "and the way in which the various committees have over time interpreted it, has led in my view to a proper caution on the part of operators, including me."@@@@1@38@@oe@2-2-2013
21307021@unknown@formal@none@1@S@In other words, Congress won't let the CIA do much of anything anymore, and that's fine with the CIA.@@@@1@19@@oe@2-2-2013
21307022@unknown@formal@none@1@S@The pay's the same, and the duty's lighter.@@@@1@8@@oe@2-2-2013
21307023@unknown@formal@none@1@S@And of course, doing anything that might be second-guessed by Congress carries heavy penalties.@@@@1@14@@oe@2-2-2013
21307024@unknown@formal@none@1@S@Witness the Walsh prosecution of Ollie North.@@@@1@7@@oe@2-2-2013
21307025@unknown@formal@none@1@S@The Intelligence Committee's ranking Republican, Senator William Cohen, joined with Senator George Mitchell to write a best seller about Iran-Contra, deploring "Men of Zeal."@@@@1@24@@oe@2-2-2013
21307026@unknown@formal@none@1@S@No doubt many people in the CIA, the Pentagon and the National Security Council have read it.@@@@1@17@@oe@2-2-2013
21307027@unknown@formal@none@1@S@What kind of initiative should anyone expect from people out on the line who've read all this and know what can happen if they fail?@@@@1@25@@oe@2-2-2013
21307028@unknown@formal@none@1@S@Who wants to end up as the protagonist in a Bill Cohen morality play?@@@@1@14@@oe@2-2-2013
21307029@unknown@formal@none@1@S@The order against assassinations is another artifact of the same congressional mind-set, a product of the 1970s Vietnam syndrome against any executive action.@@@@1@23@@oe@2-2-2013
21307030@unknown@formal@none@1@S@President Bush would do himself and the country a favor by rescinding the order as an ambiguous intrusion on his ability to defend America's national security.@@@@1@26@@oe@2-2-2013
21307031@unknown@formal@none@1@S@There are of course good reasons the U.S. shouldn't get into the assassination business, but rescinding the executive order is not the same thing as saying the U.S. should start passing out exploding cigars.@@@@1@34@@oe@2-2-2013
21307032@unknown@formal@none@1@S@The world being the nasty place it is, we want Presidents to have the freedom to order operations in which someone might get killed.@@@@1@24@@oe@2-2-2013
21307033@unknown@formal@none@1@S@In such situations, you cannot write rules in advance, you can only make sure the President takes the responsibility.@@@@1@19@@oe@2-2-2013
21307034@unknown@formal@none@1@S@The executive order and the reported agreements with the Intelligence Committee are neither sensible nor moral.@@@@1@16@@oe@2-2-2013
21307035@unknown@formal@none@1@S@As it now stands, the U.S. can bomb Tripoli, but can't "assassinate" Colonel Gadhafi.@@@@1@14@@oe@2-2-2013
21307036@unknown@formal@none@1@S@It can send a fighter squadron to strafe terrorist hideouts in the Bekaa Valley, but can't shoot Abu Nidal.@@@@1@19@@oe@2-2-2013
21307037@unknown@formal@none@1@S@Both the assassination order and the quality of debate in Washington are telling the world that the only way the U.S. will kill a madman is by making sure we take some innocent civilians with him.@@@@1@36@@oe@2-2-2013
21308001@unknown@formal@none@1@S@We've heard California's property-tax-cutting Proposition 13 blamed for a lot over the years, but ABC's Ted Koppel came up with a new wrinkle in his earthquake coverage last week when he asked Democratic Assemblyman Richard Katz if Prop. 13 had withheld money needed for road maintenance.@@@@1@46@@oe@2-2-2013
21308002@unknown@formal@none@1@S@Mr. Katz happily agreed, sliding over the fact that California's roads and bridges aren't funded by property taxes but by state and federal gasoline taxes.@@@@1@25@@oe@2-2-2013
21308003@unknown@formal@none@1@S@Both have been raised at least 30% in recent years, even while the price of gasoline has fallen.@@@@1@18@@oe@2-2-2013
21308004@unknown@formal@none@1@S@Dragging Prop. 13 into this story is a pretty long stretch.@@@@1@11@@oe@2-2-2013
21309001@unknown@formal@none@1@S@A series of explosions tore through the huge Phillips Petroleum Co. plastics plant near here, injuring more than a hundred and closing parts of the Houston Ship Channel.@@@@1@28@@oe@2-2-2013
21309002@unknown@formal@none@1@S@There were no immediate reports of deaths, but officials said a number of workers were still unaccounted for last night.@@@@1@20@@oe@2-2-2013
21309003@unknown@formal@none@1@S@The Bartlesville, Okla., oil company late yesterday still hadn't said officially what caused the explosions and fires, which sent columns of heavy black smoke billowing high into the air.@@@@1@29@@oe@2-2-2013
21309004@unknown@formal@none@1@S@One local Phillips manager said a seal blew in one of the plant's reactors.@@@@1@14@@oe@2-2-2013
21309005@unknown@formal@none@1@S@Glenn Cox, Phillips' president and chief operating officer, and other Phillips officials flew from Bartlesville to assess the damage and determine the cause of the afternoon explosions.@@@@1@27@@oe@2-2-2013
21309006@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Phillips Petroleum shares fell $1.125 to $23.125.@@@@1@16@@oe@2-2-2013
21309007@unknown@formal@none@1@S@The plastics plant is located on an 800-acre tract in the heart of the petrochemical corridor that reaches along the U.S. Gulf Coast.@@@@1@23@@oe@2-2-2013
21309008@unknown@formal@none@1@S@The U.S. Coast Guard closed six miles of the Houston Ship Channel, where about 150 companies have operations, because the thick, black smoke obscured the area.@@@@1@26@@oe@2-2-2013
21309009@unknown@formal@none@1@S@The Port of Houston closed its terminal for handling bulk cargo.@@@@1@11@@oe@2-2-2013
21309010@unknown@formal@none@1@S@Broken water lines and gas leaks hindered firefighters' efforts, but by late yesterday authorities said they had the fire under control.@@@@1@21@@oe@2-2-2013
21309011@unknown@formal@none@1@S@The blasts blew out windows, spewed debris for miles and crumpled the ceiling in an area elementary school.@@@@1@18@@oe@2-2-2013
21309012@unknown@formal@none@1@S@The initial fireball was caught by cameras in downtown Houston, about 10 miles away.@@@@1@14@@oe@2-2-2013
21309013@unknown@formal@none@1@S@Nearby Pasadena, Texas, police reported that 104 people had been taken to area hospitals, but a spokeswoman said that toll could rise.@@@@1@22@@oe@2-2-2013
21309014@unknown@formal@none@1@S@The injured, including three in critical condition, were treated for burns, breathing problems and cuts from flying glass, hospital officials said.@@@@1@21@@oe@2-2-2013
21309015@unknown@formal@none@1@S@The plant employs between 800 and 900 on three shifts.@@@@1@10@@oe@2-2-2013
21309016@unknown@formal@none@1@S@The number working at the time of the blast wasn't known.@@@@1@11@@oe@2-2-2013
21309017@unknown@formal@none@1@S@Yesterday's explosions were the second round in two months at the plastics plant.@@@@1@13@@oe@2-2-2013
21309018@unknown@formal@none@1@S@In late August, four contract workers were injured and one Phillips employee died after an explosion at a fuel supply line near the facility's boiler house.@@@@1@26@@oe@2-2-2013
21309019@unknown@formal@none@1@S@The Phillips facility manufactures polyethylene, polypropylene and K-resin, plastics used in a wide array of applications, including milk jugs and toys.@@@@1@21@@oe@2-2-2013
21309020@unknown@formal@none@1@S@Plastics are the cornerstone of Phillips' chemicals operations, which is the biggest single contributor to the company's profits.@@@@1@18@@oe@2-2-2013
21310001@unknown@formal@none@1@S@A federal judge in Manhattan has entered a judgment requiring a Chicago organized crime figure to pay the government $250,000, representing alleged profits he gained from his involvement with the International Brotherhood of Teamsters.@@@@1@34@@oe@2-2-2013
21310002@unknown@formal@none@1@S@Manhattan U.S. Attorney Otto Obermaier said it was the first time ever that the government had obtained any disgorgement from an organized crime figure indicted under the civil racketeering law.@@@@1@30@@oe@2-2-2013
21310003@unknown@formal@none@1@S@Joseph Lombardo, who the government alleged was the "captain" of organized crime in Chicago, was one of numerous defendants in the government's sweeping racketeering suit against the Teamsters.@@@@1@28@@oe@2-2-2013
21310004@unknown@formal@none@1@S@In the suit, filed in June 1988, the government accused the union's leadership of depriving its 1.6 million members of their rights through a pattern of racketeering.@@@@1@27@@oe@2-2-2013
21310005@unknown@formal@none@1@S@Among other things, the government claimed that organized crime figures had routinely handpicked the union's top officials.@@@@1@17@@oe@2-2-2013
21310006@unknown@formal@none@1@S@U.S. District Judge David Edelstein also permanently enjoined Mr. Lombardo from any future dealings with the Teamsters or any other labor union.@@@@1@22@@oe@2-2-2013
21310007@unknown@formal@none@1@S@Mr. Lombardo, the last of the defendants to settle the suit, agreed to pay the government the $250,000 within one week.@@@@1@21@@oe@2-2-2013
21311001@unknown@formal@none@1@S@Exxon Corp. said its third-quarter earnings slipped 9% as profits from two of its three major businesses sagged.@@@@1@18@@oe@2-2-2013
21311002@unknown@formal@none@1@S@All cleanup costs from last spring's Alaskan oil spill were reflected in earlier results, it said.@@@@1@16@@oe@2-2-2013
21311003@unknown@formal@none@1@S@Phillips Petroleum Co. and Atlantic Richfield Co. also reported declines in quarterly profit, while Ashland Oil Inc. posted a loss for the latest quarter.@@@@1@24@@oe@2-2-2013
21311004@unknown@formal@none@1@S@Amerada Hess Corp. and Occidental Petroleum Corp. reported higher earnings.@@@@1@10@@oe@2-2-2013
21311005@unknown@formal@none@1@S@Exxon@@@@1@1@@oe@2-2-2013
21311006@unknown@formal@none@1@S@Although Exxon spent heavily during the latest quarter to clean up the Alaskan shoreline blackened by its huge oil spill, those expenses as well as the cost of a continuing spill-related program are covered by $880 million in charges taken during the first half.@@@@1@44@@oe@2-2-2013
21311007@unknown@formal@none@1@S@An Exxon official said that at this time the oil company doesn't anticipate any additional charges to future earnings relating to the cleanup of oil spilled when one of its tankers rammed into an underwater reef.@@@@1@36@@oe@2-2-2013
21311008@unknown@formal@none@1@S@She added, however, that charges already taken don't take into account the potential effect of litigation involving the oil spill.@@@@1@20@@oe@2-2-2013
21311009@unknown@formal@none@1@S@She said that impact can't be reasonably assessed yet.@@@@1@9@@oe@2-2-2013
21311010@unknown@formal@none@1@S@Exxon's net income during the third quarter dropped to $1.11 billion, or 87 cents a share, from $1.22 billion, or 93 cents a share, a year earlier.@@@@1@27@@oe@2-2-2013
21311011@unknown@formal@none@1@S@Revenue rose 8.1%, to $23.65 billion from $21.88 billion.@@@@1@9@@oe@2-2-2013
21311012@unknown@formal@none@1@S@During the third quarter, Exxon purchased 8.34 million shares of its stock at a cost of $373 million.@@@@1@18@@oe@2-2-2013
21311013@unknown@formal@none@1@S@Exxon's profitability, like that of many other oil companies, was hurt during the third quarter by declining returns from the chemicals and refining and marketing businesses.@@@@1@26@@oe@2-2-2013
21311014@unknown@formal@none@1@S@Exxon's earnings from chemicals operations fell $90 million, to $254 million, while refining and marketing profits declined $180 million, to $357 million.@@@@1@22@@oe@2-2-2013
21311015@unknown@formal@none@1@S@Although crude oil prices were significantly higher this year, they weren't strong enough to offset the declining profits in those business sectors at most oil companies, said William Randol, oil analyst for First Boston Corp.@@@@1@35@@oe@2-2-2013
21311016@unknown@formal@none@1@S@He estimates that the price of West Texas Intermediate, the U.S. benchmark crude, was $4.04 a barrel higher during the third quarter of this year than in the same period last year.@@@@1@32@@oe@2-2-2013
21311017@unknown@formal@none@1@S@Ashland Oil@@@@1@2@@oe@2-2-2013
21311018@unknown@formal@none@1@S@A rash of one-time charges left Ashland Oil with a loss of $39 million for its fiscal fourth quarter.@@@@1@19@@oe@2-2-2013
21311019@unknown@formal@none@1@S@A year earlier, the refiner earned $66 million, or $1.19 a share.@@@@1@12@@oe@2-2-2013
21311020@unknown@formal@none@1@S@Quarterly revenue rose 4.5%, to $2.3 billion from $2.2 billion.@@@@1@10@@oe@2-2-2013
21311021@unknown@formal@none@1@S@For the year, net income tumbled 61% to $86 million, or $1.55 a share.@@@@1@14@@oe@2-2-2013
21311022@unknown@formal@none@1@S@The Ashland, Ky., oil company reported a $38 million charge resulting from settlement of a 10-year dispute with the National Iranian Oil Co. over claims that Ashland didn't pay for Iranian crude it had received.@@@@1@35@@oe@2-2-2013
21311023@unknown@formal@none@1@S@In September, Ashland settled the long-simmering dispute by agreeing to pay Iran $325 million.@@@@1@14@@oe@2-2-2013
21311024@unknown@formal@none@1@S@Ashland also took a $25 million after-tax charge to cover anticipated costs to correct problems with boilers built by one of its subsidiaries.@@@@1@23@@oe@2-2-2013
21311025@unknown@formal@none@1@S@The oil refiner also booked a $15 million charge for selling Ashland Technology Corp., one of its subsidiaries, at a loss.@@@@1@21@@oe@2-2-2013
21311026@unknown@formal@none@1@S@Amerada Hess@@@@1@2@@oe@2-2-2013
21311027@unknown@formal@none@1@S@Third-quarter earnings at Amerada Hess more than tripled to $51.81 million, or 64 cents a share, from $15.7 million, or 20 cents a share, a year earlier.@@@@1@27@@oe@2-2-2013
21311028@unknown@formal@none@1@S@Revenue climbed 28%, to $1.18 billion from $925 million.@@@@1@9@@oe@2-2-2013
21311029@unknown@formal@none@1@S@Profits improved across Hess's businesses.@@@@1@5@@oe@2-2-2013
21311030@unknown@formal@none@1@S@Refining and marketing earnings climbed to $33.3 million from $12.9 million, and exploration and production earnings rose to $37.1 million from $17.9 million.@@@@1@23@@oe@2-2-2013
21311031@unknown@formal@none@1@S@Hess's earnings were up despite a $30 million charge to cover the cost of maintaining operations after Hurricane Hugo heavily damaged the company's refinery at St. Croix.@@@@1@27@@oe@2-2-2013
21311032@unknown@formal@none@1@S@It is widely known within industry circles that Hess had to buy oil products in the high-priced spot markets to continue supplying its customers.@@@@1@24@@oe@2-2-2013
21311033@unknown@formal@none@1@S@Hess declined to comment.@@@@1@4@@oe@2-2-2013
21311034@unknown@formal@none@1@S@Phillips Petroleum@@@@1@2@@oe@2-2-2013
21311035@unknown@formal@none@1@S@Phillips Petroleum's third-quarter earnings slid 60%, to $87 million, or 36 cents a share, from $215 million, or 89 cents a share.@@@@1@22@@oe@2-2-2013
21311036@unknown@formal@none@1@S@Revenue rose 6.9%, to $3.1 billion from $2.9 billion.@@@@1@9@@oe@2-2-2013
21311037@unknown@formal@none@1@S@Shrinking profit margins in chemical and refining and marketing sectors accounted for most of the decline, said Chairman C.J. Silas in a statement.@@@@1@23@@oe@2-2-2013
21311038@unknown@formal@none@1@S@Despite higher oil prices, exploration and production profits were off because of foreign-currency losses and some construction costs incurred in one of Phillips' North Sea oil fields.@@@@1@27@@oe@2-2-2013
21311039@unknown@formal@none@1@S@A year ago, results were buoyed by a $20 million after-tax gain from an asset sale.@@@@1@16@@oe@2-2-2013
21311040@unknown@formal@none@1@S@Occidental Petroleum@@@@1@2@@oe@2-2-2013
21311041@unknown@formal@none@1@S@Occidental Petroleum's third-quarter net income rose 2.9% to $108 million, or 39 cents a share, from $105 million, or 38 cents a share, a year earlier.@@@@1@26@@oe@2-2-2013
21311042@unknown@formal@none@1@S@The latest quarter included an after-tax gain of $71 million from non-recurring items.@@@@1@13@@oe@2-2-2013
21311043@unknown@formal@none@1@S@Sales dropped 2%, to $4.8 billion from $4.9 billion.@@@@1@9@@oe@2-2-2013
21311044@unknown@formal@none@1@S@The latest period included a $54 million gain from the sale of various oil and gas properties, a $22 million charge from the restructuring of Occidental's domestic oil and gas operations, and tax credits of $42 million.@@@@1@37@@oe@2-2-2013
21311045@unknown@formal@none@1@S@Both periods included non-recurring charges of $3 million for early retirement of debt.@@@@1@13@@oe@2-2-2013
21311046@unknown@formal@none@1@S@Occidental said oil and gas earnings fell to $17 million from $20 million.@@@@1@13@@oe@2-2-2013
21311047@unknown@formal@none@1@S@The latest period includes net gains of $32 million in non-recurring credits from the sale of properties, indicating operating losses for the quarter in the oil and gas division.@@@@1@29@@oe@2-2-2013
21311048@unknown@formal@none@1@S@Chemical earnings fell 10%, reflecting softening of demand.@@@@1@8@@oe@2-2-2013
21311049@unknown@formal@none@1@S@Atlantic Richfield@@@@1@2@@oe@2-2-2013
21311050@unknown@formal@none@1@S@Citing its reduced ownership in the Lyondell Petrochemical Co., Atlantic Richfield reported that net income slid 3.1% in the third quarter to $379 million, or $2.19 a share, from $391 million, or $2.17 a share, for the comparable period last year.@@@@1@41@@oe@2-2-2013
21311051@unknown@formal@none@1@S@Sales fell 20%, to $3.7 billion from $4.6 billion.@@@@1@9@@oe@2-2-2013
21311052@unknown@formal@none@1@S@Arco's earnings from its 49.9% stake in Lyondell fell to $37 million from $156 million for the same period last year, when Lyondell was wholly owned.@@@@1@26@@oe@2-2-2013
21311053@unknown@formal@none@1@S@Offsetting the lower stake in Lyondell were higher crude oil prices, increased natural gas volumes and higher coke prices, the company said.@@@@1@22@@oe@2-2-2013
21311054@unknown@formal@none@1@S@Coal earnings rose to $26 million from $21 million.@@@@1@9@@oe@2-2-2013
21311055@unknown@formal@none@1@S@For the nine months, Arco reported net income of $1.6 billion, or $8.87 a share, up 33% from $1.2 billion, or $6.56 a share a year earlier.@@@@1@27@@oe@2-2-2013
21311056@unknown@formal@none@1@S@Sales were $12 billion, off 13% from $13.8 billion.@@@@1@9@@oe@2-2-2013
21311057@unknown@formal@none@1@S@Jeff Rowe contributed to this article.@@@@1@6@@oe@2-2-2013
21312001@unknown@formal@none@1@S@The following were among yesterday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
21312002@unknown@formal@none@1@S@Imo Industries Inc. -- $150 million of senior subordinated debentures due 2001, priced at par to yield 12%.@@@@1@18@@oe@2-2-2013
21312003@unknown@formal@none@1@S@The issue will be sold through Morgan Stanley & Co.@@@@1@10@@oe@2-2-2013
21312004@unknown@formal@none@1@S@Other details weren't available.@@@@1@4@@oe@2-2-2013
21312005@unknown@formal@none@1@S@San Antonio, Texas -- $575 million of electric and gas system revenue refunding bonds, Series 1989, 1989A and 1989B, tentatively priced by a First Boston Corp. group to yield from 6.15% in 1991 to 7.30% in 2009.@@@@1@37@@oe@2-2-2013
21312006@unknown@formal@none@1@S@The issue includes current interest bonds due 1991-2000, 2009, 2012, 2014 and 2016, and capital appreciation bonds due 2001-2005.@@@@1@19@@oe@2-2-2013
21312007@unknown@formal@none@1@S@The current interest serial bonds are priced to yield from 6.15% in 1991 to 7.10% in 2000.@@@@1@17@@oe@2-2-2013
21312008@unknown@formal@none@1@S@There are about $100 million of 7% term bonds due 2009, priced to yield 7.30%, which is the issue's high yield.@@@@1@21@@oe@2-2-2013
21312009@unknown@formal@none@1@S@There are also about $124 million of 6 1/2% bonds priced to yield 7.25% in 2012; about $97 million of 6% bonds priced to yield 7.20% in 2014; and about $26.5 million of 5% bonds priced to yield 7.15% in 2016.@@@@1@41@@oe@2-2-2013
21312010@unknown@formal@none@1@S@All of the term bonds are original issue discount bonds, according to the lead underwriter.@@@@1@15@@oe@2-2-2013
21312011@unknown@formal@none@1@S@The capital appreciation bonds are tentatively priced to yield to maturity from 7% in 2001 to 7.10% in 2003-2005.@@@@1@19@@oe@2-2-2013
21312012@unknown@formal@none@1@S@The bonds are rated double-A by Moody's Investors Service Inc. and Standard & Poor's Corp.@@@@1@15@@oe@2-2-2013
21312013@unknown@formal@none@1@S@Maryland Stadium Authority -- $137.6 million of sports facilities lease revenue bonds, Series 1989 D, due 1992-1999, 2004, 2009 and 2019, tentatively priced at par by a Morgan Stanley group to yield from 6.35% in 1992 to 7.60% in 2019.@@@@1@40@@oe@2-2-2013
21312014@unknown@formal@none@1@S@Serial bonds are priced to yield to 7.10% in 1999.@@@@1@10@@oe@2-2-2013
21312015@unknown@formal@none@1@S@There are $15,845,000 of 7 3/8% bonds priced at par and due 2004; $22,985,000 of 7 1/2% bonds priced at par and due 2009; and $82.6 million of 7.60% bonds priced at par and due 2019.@@@@1@36@@oe@2-2-2013
21312016@unknown@formal@none@1@S@The bonds are rated double-A by Moody's and double-A-minus by S&P.@@@@1@11@@oe@2-2-2013
21312017@unknown@formal@none@1@S@Interest on the bonds will be treated as a preference item in calculating the federal alternative minimum tax that may be imposed on certain investors.@@@@1@25@@oe@2-2-2013
21312018@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. -- $250 million of Remic mortgage securities being offered in 11 classes by Morgan Stanley.@@@@1@20@@oe@2-2-2013
21312019@unknown@formal@none@1@S@The offering, Series 107, is backed by Freddie Mac 15-year, 9% securities, and brings Freddie Mac's 1989 Remic issuance to $32.8 billion and its total volume to $46.8 billion since the program began in February 1988.@@@@1@36@@oe@2-2-2013
21312020@unknown@formal@none@1@S@The offering used at-market pricing.@@@@1@5@@oe@2-2-2013
21312021@unknown@formal@none@1@S@Federal National Mortgage Association -- $500 million of Remic mortgage securities being offered in 10 classes by Merrill Lynch Capital Markets.@@@@1@21@@oe@2-2-2013
21312022@unknown@formal@none@1@S@The offering, Series 1989-85, is backed by Fannie Mae 9% securities.@@@@1@11@@oe@2-2-2013
21312023@unknown@formal@none@1@S@Separately, a $400 million issue of Fannie Mae Remic mortgage securities is being offered in 15 classes by Bear, Stearns & Co.@@@@1@22@@oe@2-2-2013
21312024@unknown@formal@none@1@S@The offering, Series 1989-86, is backed by Fannie Mae 9% securities.@@@@1@11@@oe@2-2-2013
21312025@unknown@formal@none@1@S@Finally, a $300 million issue of Fannie Mae Remic mortgage securities is being offered in 12 classes by Smith Barney, Harris Upham & Co.@@@@1@24@@oe@2-2-2013
21312026@unknown@formal@none@1@S@The offering, Series 1989-87, is backed by Fannie Mae 9 1/2% securities.@@@@1@12@@oe@2-2-2013
21312027@unknown@formal@none@1@S@The three offerings together bring Fannie Mae's 1989 Remic issuance to $32.4 billion and its total Remic volume to $44.5 billion since the program began in April 1987.@@@@1@28@@oe@2-2-2013
21312028@unknown@formal@none@1@S@Credit Agricole (CNCA) (French) -- $250 million of 8 3/4% bonds due Nov. 21, 1994, priced at 101.80 to yield 8.77% annually less full fees, via IBJ International Ltd.@@@@1@29@@oe@2-2-2013
21312029@unknown@formal@none@1@S@Fees 1 7/8.@@@@1@3@@oe@2-2-2013
21312030@unknown@formal@none@1@S@Hokuriku Electric Power Co. (Japan) -- $200 million of 8 7/8% bonds due Nov. 20, 1996, priced at 101 3/4 to yield 8.90% less full fees, via Yamaichi International (Europe) Ltd.@@@@1@31@@oe@2-2-2013
21312031@unknown@formal@none@1@S@Fees 1 7/8.@@@@1@3@@oe@2-2-2013
21312032@unknown@formal@none@1@S@International Finance Corp. (agency) -- 10 billion pesetas of 11.6% bonds due Nov. 30, 1994, priced at 101 5/8 to yield 11.60% less full fees, via Citibank (Madrid) and Banco Espanol de Credito, Spain.@@@@1@34@@oe@2-2-2013
21312033@unknown@formal@none@1@S@Fees 1 5/8.@@@@1@3@@oe@2-2-2013
21312034@unknown@formal@none@1@S@Royal Bank of Canada, Grand Cayman branch (Canada) -- 100 million Canadian dollars of 10 3/4% deposit notes due Nov. 30, 1994, priced at 101 3/4 to yield 10.78% less full fees, via RBC Dominion Securities International Ltd.@@@@1@38@@oe@2-2-2013
21312035@unknown@formal@none@1@S@Fees 1 7/8.@@@@1@3@@oe@2-2-2013
21312036@unknown@formal@none@1@S@Union Bank of Finland -- 100 million Australian dollars of 9% bonds due Nov. 9, 1990, priced at 94 to yield 17.20% less full fees, via Banque Paribas Capital Markets Ltd.@@@@1@31@@oe@2-2-2013
21312037@unknown@formal@none@1@S@Fees 1.@@@@1@2@@oe@2-2-2013
21312038@unknown@formal@none@1@S@Ford Motor Credit -- $2.57 billion of certificates backed by automobile loans with a coupon rate of 8.70%, priced at 99 19/32 to yield 8.903% through an underwriting group headed by First Boston Corp.@@@@1@34@@oe@2-2-2013
21312039@unknown@formal@none@1@S@The issue is the first by Ford Motor Credit, a unit of Ford Motor Co., and the second largest in the four-year history of the $45 billion asset-backed market.@@@@1@29@@oe@2-2-2013
21312040@unknown@formal@none@1@S@The largest issue was a $4 billion offering of auto-loan securities by General Motors Acceptance Corp. in 1986.@@@@1@18@@oe@2-2-2013
21312041@unknown@formal@none@1@S@The Ford issue, through Ford Credit 1989-A Grantor Trust, was priced at a yield spread of 95 basis points above the Treasury 7 3/4% issue due July 1991.@@@@1@28@@oe@2-2-2013
21312042@unknown@formal@none@1@S@The offering is rated doubleA-2 by Moody's and double-A by S&P, based on the quality of the underlying auto loans and a guarantee covering 9% of the deal from Ford Motor Credit.@@@@1@32@@oe@2-2-2013
21312043@unknown@formal@none@1@S@The certificates have an estimated average life of 1.8 years, assuming monthly prepayments at 1.3% of the original balance.@@@@1@19@@oe@2-2-2013
21312044@unknown@formal@none@1@S@The final maturity is in five years.@@@@1@7@@oe@2-2-2013
21313001@unknown@formal@none@1@S@The Mouth is back.@@@@1@4@@oe@2-2-2013
21313002@unknown@formal@none@1@S@Morton Downey Jr., who self-destructed as a talk-show host and frequently verbally abused his guests, has been signed to co-host a half-hour nightly program on the Consumer News and Business Channel, the cable channel partly owned by the General Electric Co.'s National Broadcasting Co.@@@@1@44@@oe@2-2-2013
21313003@unknown@formal@none@1@S@The premiere of "Showdown," with Mr. Downey and Richard G. Carter, a columnist with the New York Daily News, is scheduled for Dec. 4 at 8 p.m.@@@@1@27@@oe@2-2-2013
21313004@unknown@formal@none@1@S@CNBC is available to 13 million cable households.@@@@1@8@@oe@2-2-2013
21313005@unknown@formal@none@1@S@Mr. Downey said he is not going to change his style, which some critics said was flamboyant and others deemed offensive.@@@@1@21@@oe@2-2-2013
21313006@unknown@formal@none@1@S@"But I'm going to proceed in a more logical way.@@@@1@10@@oe@2-2-2013
21313007@unknown@formal@none@1@S@I'm not going to do anything that is not acceptable in anyone's home.@@@@1@13@@oe@2-2-2013
21313008@unknown@formal@none@1@S@But that doesn't mean I'm not going to get angry."@@@@1@10@@oe@2-2-2013
21313009@unknown@formal@none@1@S@Michael Eskridge, president of CNBC, said that although there will be a studio audience, viewers will no longer have to endure the shouting of "Mort! Mort! Mort!"@@@@1@27@@oe@2-2-2013
21313010@unknown@formal@none@1@S@But just how does Mr. Downey's unorthodox style mesh with the sedate tone of CNBC's business programming?@@@@1@17@@oe@2-2-2013
21313011@unknown@formal@none@1@S@"Ninety percent of Mort's old show fits into our style," said Mr. Eskridge.@@@@1@13@@oe@2-2-2013
21313012@unknown@formal@none@1@S@"That is consumer issues."@@@@1@4@@oe@2-2-2013
21313013@unknown@formal@none@1@S@Mr. Downey's previous show, a one-hour shout fest, syndciated by MCA Inc. and produced by Quantum Media Inc., was canceled in July after advertisers and stations abandoned it.@@@@1@28@@oe@2-2-2013
21314001@unknown@formal@none@1@S@Investors dumped stocks of big companies whose earnings fluctuate with the economy.@@@@1@12@@oe@2-2-2013
21314002@unknown@formal@none@1@S@Many of those "cyclical" issues are in the Dow Jones Industrial Average, which fell 26.23 to 2662.91.@@@@1@17@@oe@2-2-2013
21314003@unknown@formal@none@1@S@Declining issues on the New York Stock Exchange outpaced advancers, 1,012 to 501.@@@@1@13@@oe@2-2-2013
21314004@unknown@formal@none@1@S@Recession fears are springing up again among investors.@@@@1@8@@oe@2-2-2013
21314005@unknown@formal@none@1@S@Analysts say that the selling of cyclical stocks yesterday will be followed by a sell-off in shares of companies with big debt loads on their balance sheets.@@@@1@27@@oe@2-2-2013
21314006@unknown@formal@none@1@S@In an economic slowdown, heavy debt loads reduce the flexibility of companies because cash that would normally be used to keep the company buoyant must be diverted to interest payments.@@@@1@30@@oe@2-2-2013
21314007@unknown@formal@none@1@S@On the other hand, investors beat a clear path yesterday to blue-chip issues with proven earnings growth records.@@@@1@18@@oe@2-2-2013
21314008@unknown@formal@none@1@S@Among the 30 Dow industrials, they bought McDonald's, Coca-Cola Co. and Procter & Gamble and sold Aluminum Co. of America.@@@@1@20@@oe@2-2-2013
21314009@unknown@formal@none@1@S@In another sign of slowdown fears, investors dumped technology shares.@@@@1@10@@oe@2-2-2013
21314010@unknown@formal@none@1@S@Many money managers are bracing for a decline in stocks of companies with big debt loads on their balance sheets.@@@@1@20@@oe@2-2-2013
21314011@unknown@formal@none@1@S@"The junk bond market is being taken apart" because of recession fears, said J. David Mills, senior vice president at Boston Company Advisers.@@@@1@23@@oe@2-2-2013
21314012@unknown@formal@none@1@S@"Under this scrutiny, the first thing you do is sell your cyclical stocks and the second thing you do is sell your over-leveraged companies."@@@@1@24@@oe@2-2-2013
21314013@unknown@formal@none@1@S@In fact, much of the buying in blue chips yesterday was a pursuit of companies with lower debt levels.@@@@1@19@@oe@2-2-2013
21314014@unknown@formal@none@1@S@In a recent investment letter entitled "Winners of the `Leverage Wars,' " Edward Kerschner, chairman of PaineWebber's investment policy committee, suggested that investors buy stocks of companies that have avoided loading up on debt.@@@@1@34@@oe@2-2-2013
21314015@unknown@formal@none@1@S@"We're saying companies have to pay increasing attention to balance sheets," said Mr. Kerschner.@@@@1@14@@oe@2-2-2013
21314016@unknown@formal@none@1@S@He suggested that investors buy the shares of Great Atlantic & Pacific Tea, J. Baker, McDonald's, Philip Morris and Sara Lee.@@@@1@21@@oe@2-2-2013
21314017@unknown@formal@none@1@S@He said that all of these companies will be able to compete fiercely in an economic downturn.@@@@1@17@@oe@2-2-2013
21314018@unknown@formal@none@1@S@McDonald's has long-term debt equaling 91% of shareholder equity currently, but Mr. Kerschner said the company is carrying real estate assets at about $2.6 billion below their real value.@@@@1@29@@oe@2-2-2013
21314019@unknown@formal@none@1@S@Coca-Cola climbed 1 3/8 to 72 1/8; McDonald's added 1 to 31 3/8, and Procter & Gamble gained 3/4 to 130 5/8.@@@@1@22@@oe@2-2-2013
21314020@unknown@formal@none@1@S@A&P fell 1 1/4 to 57 5/8, and J. Baker gained 3/8 to 21 1/4.@@@@1@15@@oe@2-2-2013
21314021@unknown@formal@none@1@S@Philip Morris slipped 1/2 to 43 7/8, while Sara Lee closed unchanged at 60 1/8.@@@@1@15@@oe@2-2-2013
21314022@unknown@formal@none@1@S@According to Salomon Brothers' "stub" stock index of 20 companies whose debt is giant compared with shareholder equity, investors are already beginning to retreat from shares of debt-laden companies.@@@@1@29@@oe@2-2-2013
21314023@unknown@formal@none@1@S@From January to early September, the index of stub stocks -- the tiny portion of equity that's publicly traded following a recapitalization -- outperformed Standard & Poor's 500-stock index by about 20%.@@@@1@32@@oe@2-2-2013
21314024@unknown@formal@none@1@S@But starting in early September, the index started to slide and now stands about even with the S&P 500.@@@@1@19@@oe@2-2-2013
21314025@unknown@formal@none@1@S@"Stocks that have a high default risk have started to underperform those stocks that have a lower default risk," said Eric Sorenson, director of quantitative analysis at Salomon Brothers.@@@@1@29@@oe@2-2-2013
21314026@unknown@formal@none@1@S@"Companies that have the most exposure to the business cycle have underperformed since late last summer."@@@@1@16@@oe@2-2-2013
21314027@unknown@formal@none@1@S@Union Carbide, whose third-quarter earnings dropped about 35% from a year earlier and fell short of analysts' expectations, declined 1/2 to 24 1/2.@@@@1@23@@oe@2-2-2013
21314028@unknown@formal@none@1@S@Also, Exxon went down 3/8 to 45 3/4 and Allied-Signal lost 7/8 to 35 1/8 even though the companies' results for the quarter were in line with forecasts.@@@@1@28@@oe@2-2-2013
21314029@unknown@formal@none@1@S@Other weak blue-chip issues included Chevron, which went down 2 to 64 7/8 in Big Board composite trading of 1.3 million shares; Goodyear Tire & Rubber, off 1 1/2 to 46 3/4, and American Express, down 3/4 to 37 1/4.@@@@1@40@@oe@2-2-2013
21314030@unknown@formal@none@1@S@Texas Instruments, which had reported Friday that third-quarter earnings fell more than 30% from the year-ago level, went down 2 1/8 to 33 on 1.1 million shares.@@@@1@27@@oe@2-2-2013
21314031@unknown@formal@none@1@S@Motorola, another major semiconductor producer, dropped 1 1/8 to 57 1/2.@@@@1@11@@oe@2-2-2013
21314032@unknown@formal@none@1@S@Pinnacle West Capital, whose earnings have been hurt by continued problems at its MeraBank unit, fell 1 5/8 to 9 1/8 on 2.1 million shares to lead the Big Board's list of most active issues.@@@@1@35@@oe@2-2-2013
21314033@unknown@formal@none@1@S@Growing pressures on the Arizona real-estate market are affecting the thrift; Pinnacle West told Dow Jones Professional Investor Report it may consider filing for Chapter 11 bankruptcy protection if it can't reach an agreement with federal regulators to provide additional capital to MeraBank.@@@@1@43@@oe@2-2-2013
21314034@unknown@formal@none@1@S@Hercules dropped 2 5/8 to 41 3/4 on one million shares -- about six times its average daily trading volume -- after a disappointing third-quarter earnings report.@@@@1@27@@oe@2-2-2013
21314035@unknown@formal@none@1@S@Merrill Lynch and Prudential-Bache Securities both lowered the stock's investment rating immediately after the results were issued Friday, according to PIR.@@@@1@21@@oe@2-2-2013
21314036@unknown@formal@none@1@S@Elsewhere in the chemicals sector, Dow Chemical fell 1 1/4 to 97 1/2, Monsanto lost 1 7/8 to 118, B.F. Goodrich slipped 2 1/4 to 44 3/4 and Olin slid 1 to 57 3/4.@@@@1@34@@oe@2-2-2013
21314037@unknown@formal@none@1@S@Other stocks hurt by earnings-related selling included Tandy, which dropped 1 3/8 to 44, and Eaton, which retreated 2 1/2 to 57 1/2.@@@@1@23@@oe@2-2-2013
21314038@unknown@formal@none@1@S@Third-quarter earnings at both companies were below analysts' forecasts.@@@@1@9@@oe@2-2-2013
21314039@unknown@formal@none@1@S@After declining about 41% last week, UAL advanced 9 7/8 to 178 3/8 on 1.1 million shares on anticipation of a revised takeover offer from a labor-management group for the parent company of United Airlines.@@@@1@35@@oe@2-2-2013
21314040@unknown@formal@none@1@S@However, Delta Air Lines fell 1 1/2 to 67 1/2 and USAir Group dropped 3/4 to 42 1/2.@@@@1@18@@oe@2-2-2013
21314041@unknown@formal@none@1@S@Ramada gained 7/8 to 11 1/4 after revamping the terms of its restructuring plan, which calls for the company to sell its hotel operations for $540 million and spin off its casino business to shareholders.@@@@1@35@@oe@2-2-2013
21314042@unknown@formal@none@1@S@The revision follows last month's withdrawal of a $400 million junk-bond offering for the new casino company, Aztar Corp.@@@@1@19@@oe@2-2-2013
21314043@unknown@formal@none@1@S@Mead gained 1 to 37 7/8.@@@@1@6@@oe@2-2-2013
21314044@unknown@formal@none@1@S@USA Today reported that the Rales brothers, Washington, D.C.-based investors who made an unsuccessful offer to acquire Interco last year, have bought nearly 3% of Mead's common shares.@@@@1@28@@oe@2-2-2013
21314045@unknown@formal@none@1@S@Entertainment and media stocks generally escaped the market's slide as well.@@@@1@11@@oe@2-2-2013
21314046@unknown@formal@none@1@S@Paramount Communications rose 5/8 to 58 3/4, Time Warner climbed 1 7/8 to 138 5/8, Walt Disney advanced 3 1/8 to 127 1/2, MCA rose 1 1/8 to 65 5/8 and McGraw-Hill added 1/2 to 67 1/8.@@@@1@37@@oe@2-2-2013
21314047@unknown@formal@none@1@S@The American Stock Exchange Market Value Index lost 3.11 to 379.46.@@@@1@11@@oe@2-2-2013
21314048@unknown@formal@none@1@S@Volume totaled 10,450,000 shares.@@@@1@4@@oe@2-2-2013
21314049@unknown@formal@none@1@S@Carnival Cruise Lines Class A fell 1 3/4 to 20 3/4.@@@@1@11@@oe@2-2-2013
21314050@unknown@formal@none@1@S@The company said it had been notified unofficially that Waertsilae Marine Industries, a Finnish shipyard building three cruise ships for the company, is having financial trouble and may already have filed for bankruptcy.@@@@1@33@@oe@2-2-2013
21315001@unknown@formal@none@1@S@"Hacksaw" and "Bonecrusher" are the sort of nicknames normally associated with linebackers and heavyweight contenders.@@@@1@15@@oe@2-2-2013
21315002@unknown@formal@none@1@S@Who'd have thought that the next group of tough guys carrying around reputations like that would be school superintendents?@@@@1@19@@oe@2-2-2013
21315003@unknown@formal@none@1@S@Chicago's new school chief is the hard-nosed Ted Kimbrough.@@@@1@9@@oe@2-2-2013
21315004@unknown@formal@none@1@S@At his old job in Compton, Calif., he took a bitter teachers' strike and nearly came to blows with a school-board member.@@@@1@22@@oe@2-2-2013
21315005@unknown@formal@none@1@S@At his first Chicago press conference, he berated the reporters.@@@@1@10@@oe@2-2-2013
21315006@unknown@formal@none@1@S@In New York City, the new Chancellor, Joseph Fernandez, has landed like a 16-inch shell in the middle of a system that has been impervious to serious reform.@@@@1@28@@oe@2-2-2013
21315007@unknown@formal@none@1@S@Both men fit the mood of the times -- the mood being one of a public fed up with officials' rationalizations for why their schools don't work.@@@@1@27@@oe@2-2-2013
21315008@unknown@formal@none@1@S@Former Patterson, N.J., principal Joe Clark was no doubt the general public's first experience with this new breed of no-nonsense administrator.@@@@1@21@@oe@2-2-2013
21315009@unknown@formal@none@1@S@The subject of the movie "Lean on Me," Mr. Clark controlled his school with a bullhorn and a baseball bat.@@@@1@20@@oe@2-2-2013
21315010@unknown@formal@none@1@S@He may have gone overboard in his pursuit of good discipline, but isn't it interesting that some of the country's biggest, most troubled school districts are choosing new chiefs from the same gravel-chewing mold?@@@@1@34@@oe@2-2-2013
21315011@unknown@formal@none@1@S@Elena Scambio, the woman assigned to run the Jersey City school system that was taken over by the state, says her top priority will be to "cut through the dead hand of bureaucracy."@@@@1@33@@oe@2-2-2013
21315012@unknown@formal@none@1@S@Mr. Fernandez doesn't take control in New York until January, but already he's roiling the waters.@@@@1@16@@oe@2-2-2013
21315013@unknown@formal@none@1@S@He's attacked the concept of "building tenure," one of the most disgraceful institutions in American public schools.@@@@1@17@@oe@2-2-2013
21315014@unknown@formal@none@1@S@It means it is virtually impossible to fire or even transfer incompetent principals.@@@@1@13@@oe@2-2-2013
21315015@unknown@formal@none@1@S@Once they are in the building, they stay.@@@@1@8@@oe@2-2-2013
21315016@unknown@formal@none@1@S@One South Bronx principal kept his job for 16 years, despite a serious drinking problem and rarely showing up for work.@@@@1@21@@oe@2-2-2013
21315017@unknown@formal@none@1@S@He was finally given leave when he was arrested for allegedly buying crack.@@@@1@13@@oe@2-2-2013
21315018@unknown@formal@none@1@S@Naturally, the principals' union loves building tenure, and tenure has withstood previous challenge.@@@@1@13@@oe@2-2-2013
21315019@unknown@formal@none@1@S@We suggest that Mr. Fernandez find an incompetent principal, toss him out of the building and let the forces of the status quo explain to the parents whatever it is they're defending.@@@@1@32@@oe@2-2-2013
21315020@unknown@formal@none@1@S@In his old job, as Dade County chief, Mr. Fernandez forced out 92 teachers and reshuffled 48 principals.@@@@1@18@@oe@2-2-2013
21315021@unknown@formal@none@1@S@He cut the dropout rate by 5.5%.@@@@1@7@@oe@2-2-2013
21315022@unknown@formal@none@1@S@But the no-more-nonsense superintendents are going to have to be judicious as well; incompetent principals and administrators should go, but the good ones ought to be left alone.@@@@1@28@@oe@2-2-2013
21315023@unknown@formal@none@1@S@The situation will be especially delicate for Mr. Kimbrough.@@@@1@9@@oe@2-2-2013
21315024@unknown@formal@none@1@S@He takes over a school system in the midst of radical reform.@@@@1@12@@oe@2-2-2013
21315025@unknown@formal@none@1@S@Chicagoans have just elected 540 neophyte school boards, one for each school.@@@@1@12@@oe@2-2-2013
21315026@unknown@formal@none@1@S@This of course led to disaster in New York City.@@@@1@10@@oe@2-2-2013
21315027@unknown@formal@none@1@S@Getting a community of parents to care again about its schools is essential, but in Chicago the new boards will make mistakes and Mr. Kimbrough will have to identify them.@@@@1@30@@oe@2-2-2013
21315028@unknown@formal@none@1@S@The rise of superintendents such as Joseph Fernandez and Ted Kimbrough suggests plainly the process of disintegration in many school systems.@@@@1@21@@oe@2-2-2013
21315029@unknown@formal@none@1@S@The schools' central mission, educating children, became subsumed by the competing interests of bureaucrats, politicians and unions.@@@@1@17@@oe@2-2-2013
21315030@unknown@formal@none@1@S@The classroom itself operated on the periphery of this awful system, discipline collapsed, and kids stopped learning.@@@@1@17@@oe@2-2-2013
21315031@unknown@formal@none@1@S@Mr. Chips was a nice fellow, and maybe some day he'll return.@@@@1@12@@oe@2-2-2013
21315032@unknown@formal@none@1@S@Until then, it's clear that some of the people who've been keeping big-city schools down are going to be dealing with the Terminator.@@@@1@23@@oe@2-2-2013
21316001@unknown@formal@none@1@S@Ingersoll Publications Co. agreed to buy the New Haven Register in a transaction valued at $275 million from Goodson Newspaper Group Inc.@@@@1@22@@oe@2-2-2013
21316002@unknown@formal@none@1@S@As part of the agreement, Goodson also terminated the contract under which Ingersoll manages Goodson's 66 newspapers, ending a long association between the two companies that has turned increasingly bitter recently.@@@@1@31@@oe@2-2-2013
21316003@unknown@formal@none@1@S@Goodson has accused Ingersoll of paying less attention to its properties and more to such ventures as the recent launch of the St. Louis Sun.@@@@1@25@@oe@2-2-2013
21316004@unknown@formal@none@1@S@Under the terms of the accord, Ingersoll will pay about $255 million for the Register, a daily that Goodson bought for about $170 million in 1986.@@@@1@26@@oe@2-2-2013
21316005@unknown@formal@none@1@S@Goodson will pay the additional $20 million in settlement of the management contract.@@@@1@13@@oe@2-2-2013
21316006@unknown@formal@none@1@S@Goodson also announced that it hired the former president and senior vice president of Ingersoll to run the Goodson papers.@@@@1@20@@oe@2-2-2013
21316007@unknown@formal@none@1@S@Both executives left the company after clashes with Chairman Ralph Ingersoll Jr.@@@@1@12@@oe@2-2-2013
21316008@unknown@formal@none@1@S@Goodson, which is based here, will use part of the proceeds to pay down debt associated with its purchase of the Morristown Daily Record for $155 million in 1987.@@@@1@29@@oe@2-2-2013
21316009@unknown@formal@none@1@S@The New Jersey paper, like the New Haven, Conn., paper, was purchased by Ingersoll on Goodson's behalf as part of the management contract.@@@@1@23@@oe@2-2-2013
21316010@unknown@formal@none@1@S@Industry analysts have said that the purchase price for the paper was too high, causing a strain on Goodson's finances.@@@@1@20@@oe@2-2-2013
21316011@unknown@formal@none@1@S@Investment bankers familiar with the company said Goodson is seeking a new bank credit line of $190 million and may have to sell additional newspapers.@@@@1@25@@oe@2-2-2013
21316012@unknown@formal@none@1@S@David N. Hurwitz, president and chief operating officer of Goodson, said in a telephone interview that the company doesn't currently have any plans to sell additional newspapers.@@@@1@27@@oe@2-2-2013
21316013@unknown@formal@none@1@S@Goodson said David Carr, former president of Ingersoll Publications, and Ray Cockburn, former senior vice president, would head the new in-house management team at Goodson, which had revenue of $225 million in 1988.@@@@1@33@@oe@2-2-2013
21316014@unknown@formal@none@1@S@The association between the two companies stretches back thirty years to a friendship between television producer Mark Goodson and Ingersoll founder Ralph Ingersoll.@@@@1@23@@oe@2-2-2013
21316015@unknown@formal@none@1@S@The latter's son, Ralph Ingersoll Jr., took over the company and has been managing the Goodson properties and acting as an agent in the purchase of newspapers for Goodson.@@@@1@29@@oe@2-2-2013
21316016@unknown@formal@none@1@S@But in recent years, Mr. Ingersoll began focusing more on expanding his own newspaper empire in partnership with investment banking firm Warburg, Pincus & Co.@@@@1@25@@oe@2-2-2013
21316017@unknown@formal@none@1@S@Ingersoll has 28 dailies and 200 other non-daily papers in the U.S. and Europe.@@@@1@14@@oe@2-2-2013
21316018@unknown@formal@none@1@S@The company said its revenue will exceed $750 million this year.@@@@1@11@@oe@2-2-2013
21316019@unknown@formal@none@1@S@Ingersoll President Robert M. Jelenic said in a statement that the company is "delighted by the conclusion of the Goodson relationship" and will be able to "concentrate all our energies" on Ingersoll's own papers.@@@@1@34@@oe@2-2-2013
21316020@unknown@formal@none@1@S@Mr. Goodson, in his own statement, was less upbeat, saying "unfortunately over the past few years, it has become increasingly clear that Ralph and I have different agendas," and that he feels "more comfortable with a management team whose sole interest and responsibility is in the Goodson papers.@@@@1@48@@oe@2-2-2013
21317001@unknown@formal@none@1@S@Just five months after Ogilvy Group was swallowed up in an unsolicited takeover, Kenneth Roman, Ogilvy's chairman and chief executive officer, said he is leaving to take a top post at American Express Co.@@@@1@34@@oe@2-2-2013
21317002@unknown@formal@none@1@S@Mr. Roman, 59 years old, abruptly announced he will leave the venerable ad agency, whose largest client is American Express, to become American Express's executive vice president for corporate affairs and communications.@@@@1@32@@oe@2-2-2013
21317003@unknown@formal@none@1@S@He will succeed Harry L. Freeman, 57, who has said he will retire in December.@@@@1@15@@oe@2-2-2013
21317004@unknown@formal@none@1@S@Mr. Freeman said in August that he would retire by the end of this year to take "executive responsibility" for an embarrassing effort to discredit banker Edmond Safra.@@@@1@28@@oe@2-2-2013
21317005@unknown@formal@none@1@S@American Express representatives apparently influenced the publication of unfavorable articles about Mr. Safra.@@@@1@13@@oe@2-2-2013
21317006@unknown@formal@none@1@S@The company later apologized and agreed to make $8 million in contributions to charities chosen by him.@@@@1@17@@oe@2-2-2013
21317007@unknown@formal@none@1@S@Although Mr. Freeman is retiring, he will continue to work as a consultant for American Express on a project basis.@@@@1@20@@oe@2-2-2013
21317008@unknown@formal@none@1@S@Ad industry executives weren't surprised by Mr. Roman's decision to leave Ogilvy.@@@@1@12@@oe@2-2-2013
21317009@unknown@formal@none@1@S@The agency, under his direction, bitterly fought a takeover attempt by WPP Group PLC of London before succumbing in May.@@@@1@20@@oe@2-2-2013
21317010@unknown@formal@none@1@S@And although Mr. Roman and WPP's chief executive, Martin Sorrell, have gone out of their way to be publicly supportive of each other, people close to Mr. Roman say he was unhappy giving up control of the company.@@@@1@38@@oe@2-2-2013
21317011@unknown@formal@none@1@S@Some executives also cite tension because of efforts by Mr. Sorrell, a financial man, to cut costs at the agency.@@@@1@20@@oe@2-2-2013
21317012@unknown@formal@none@1@S@Mr. Roman will be succeeded as the head of Ogilvy's flagship ad agency, Ogilvy & Mather Worldwide, by Graham Phillips, 50, who had been president of North American operations and who, like Mr. Sorrell, is British.@@@@1@36@@oe@2-2-2013
21317013@unknown@formal@none@1@S@Alexander Brody, 56, will take on the newly created position of president of the world-wide agency and chief executive of its international operations.@@@@1@23@@oe@2-2-2013
21317014@unknown@formal@none@1@S@He had been president of the international operations.@@@@1@8@@oe@2-2-2013
21317015@unknown@formal@none@1@S@Mr. Roman also had overseen Ogilvy Group's two other units, the Scali McCabe Sloves advertising agency and its research division, but those units will now report directly to WPP.@@@@1@29@@oe@2-2-2013
21317016@unknown@formal@none@1@S@Mr. Roman appears custom-made for the American Express job.@@@@1@9@@oe@2-2-2013
21317017@unknown@formal@none@1@S@Known as a traditional executive, he is very much in the conservative American Express mold.@@@@1@15@@oe@2-2-2013
21317018@unknown@formal@none@1@S@Moreover, after 26 years at Ogilvy he had honed a reputation for being squeaky-clean and a straight arrow -- which can only help American Express in the wake of the Safra incident.@@@@1@32@@oe@2-2-2013
21317019@unknown@formal@none@1@S@He also is close to American Express's chairman and chief executive officer, James D. Robinson III.@@@@1@16@@oe@2-2-2013
21317020@unknown@formal@none@1@S@Aside from working with Mr. Robinson on the American Express advertising account for about 11 years, Mr. Roman serves on several of the same charities and boards as Mr. Robinson.@@@@1@30@@oe@2-2-2013
21317021@unknown@formal@none@1@S@The abrupt management change sparked widespread speculation that Mr. Roman had been pushed out of Ogilvy's top spot by Mr. Sorrell.@@@@1@21@@oe@2-2-2013
21317022@unknown@formal@none@1@S@But Mr. Roman flatly denied the speculation, saying Mr. Sorrell had tried several times to persuade him to stay, offering various incentives and in one instance sending a note with a case of wine (The wine, naturally, was Seagram's brand, an Ogilvy client).@@@@1@43@@oe@2-2-2013
21317023@unknown@formal@none@1@S@"He asked me not to resign.@@@@1@6@@oe@2-2-2013
21317024@unknown@formal@none@1@S@The implication that I was pushed aside wouldn't be accurate," Mr. Roman said.@@@@1@13@@oe@2-2-2013
21317025@unknown@formal@none@1@S@Mr. Sorrell, traveling in the Far East, couldn't be reached.@@@@1@10@@oe@2-2-2013
21317026@unknown@formal@none@1@S@Mr. Roman said American Express's Mr. Robinson first approached him about the job in late September.@@@@1@16@@oe@2-2-2013
21317027@unknown@formal@none@1@S@According to industry executives, Peter Sutherland, a former European Community commissioner from Ireland, was also a serious contender for the American Express job.@@@@1@23@@oe@2-2-2013
21317028@unknown@formal@none@1@S@Although it ultimately wasn't offered to him, he will be on retainer to American Express as an adviser on international matters.@@@@1@21@@oe@2-2-2013
21317029@unknown@formal@none@1@S@After talking on and off for the past four weeks, Mr. Roman said, he agreed to take the job because "it's the right time, it's a terrific opportunity, and I think I leave the company in very strong hands.@@@@1@39@@oe@2-2-2013
21317030@unknown@formal@none@1@S@It was my decision, not anyone else's."@@@@1@7@@oe@2-2-2013
21317031@unknown@formal@none@1@S@Mr. Roman also brushed aside reports about infighting between him and Mr. Phillips, his successor at Ogilvy.@@@@1@17@@oe@2-2-2013
21317032@unknown@formal@none@1@S@The two executives could hardly be more different.@@@@1@8@@oe@2-2-2013
21317033@unknown@formal@none@1@S@Mr. Roman comes across as a low-key executive; Mr. Phillips has a flashier personality.@@@@1@14@@oe@2-2-2013
21317034@unknown@formal@none@1@S@During time off, Mr. Roman tends to his garden; Mr. Phillips confesses to a fondness for, among other things, fast cars and planes.@@@@1@23@@oe@2-2-2013
21317035@unknown@formal@none@1@S@Industry executives say that although the two executives used to clash more frequently, the WPP takeover brought them closer together.@@@@1@20@@oe@2-2-2013
21317036@unknown@formal@none@1@S@"I'm the guy who made him head of New York, head of the U.S., president of North America, and recommended him {to Mr. Sorrell} as my successor.@@@@1@27@@oe@2-2-2013
21317037@unknown@formal@none@1@S@Would I have done all those things successively if I didn't think he was the right guy?" Mr. Roman asked.@@@@1@20@@oe@2-2-2013
21317038@unknown@formal@none@1@S@He labeled reports of friction "ridiculous," and said that he spent part of the weekend on Mr. Phillips's boat in Connecticut.@@@@1@21@@oe@2-2-2013
21317039@unknown@formal@none@1@S@Mr. Roman will oversee American Express's public relations and government affairs, among other things, but he won't be involved in its advertising, which is handled by the operating units.@@@@1@29@@oe@2-2-2013
21317040@unknown@formal@none@1@S@"I consider this a second career," he said.@@@@1@8@@oe@2-2-2013
21317041@unknown@formal@none@1@S@He also will sit on the company's corporate planning and policy committee, made up of the top corporate and operating executives.@@@@1@21@@oe@2-2-2013
21317042@unknown@formal@none@1@S@Mr. Roman's departure isn't expected to have any enormous repercussions at Ogilvy.@@@@1@12@@oe@2-2-2013
21317043@unknown@formal@none@1@S@American Express, Kraft General Foods, and Mattel executives said the move won't affect their relationships with the ad agency.@@@@1@19@@oe@2-2-2013
21317044@unknown@formal@none@1@S@"General Foods's relationships with its agencies are based on the agencies' work, and will continue to be," said David Hurwitt, a vice president of Kraft General Foods.@@@@1@27@@oe@2-2-2013
21317045@unknown@formal@none@1@S@But some clients and analysts expressed concern that Mr. Phillips isn't as well-known to many clients.@@@@1@16@@oe@2-2-2013
21317046@unknown@formal@none@1@S@"Ken was my key contact," said J. Nicholas Hahn, president and chief executive officer of Cotton Inc., which represents cotton producers.@@@@1@21@@oe@2-2-2013
21317047@unknown@formal@none@1@S@"I don't know {Mr. Phillips} all that well.@@@@1@8@@oe@2-2-2013
21317048@unknown@formal@none@1@S@I haven't seen or talked to him in several years."@@@@1@10@@oe@2-2-2013
21317049@unknown@formal@none@1@S@And some analysts questioned whether Mr. Phillips would have the skills Ogilvy needs to turn the agency around.@@@@1@18@@oe@2-2-2013
21317050@unknown@formal@none@1@S@While the agency has done well in many parts of the world, its flagship New York office has had a dismal track record recently; it has won few new accounts while losing big ones, including Maxwell House.@@@@1@37@@oe@2-2-2013
21317051@unknown@formal@none@1@S@"I think {Mr. Phillips} is going to need some help.@@@@1@10@@oe@2-2-2013
21317052@unknown@formal@none@1@S@I think they need creative leadership, and I don't think they have it," said Emma Hill, an analyst with Wertheim & Co.@@@@1@22@@oe@2-2-2013
21317053@unknown@formal@none@1@S@Ogilvy & Mather's top creative executive, Norman Berry, left the agency earlier this year.@@@@1@14@@oe@2-2-2013
21317054@unknown@formal@none@1@S@"Norm Berry was a creative inspiration at the company, and nobody has filled that void," said Ms. Hill.@@@@1@18@@oe@2-2-2013
21317055@unknown@formal@none@1@S@But other analysts said that having Mr. Phillips succeed Mr. Roman would make for a smooth transition.@@@@1@17@@oe@2-2-2013
21317056@unknown@formal@none@1@S@"Graham Phillips has been there a long time, knows the culture well, is aggressive, and apparently gets along well with" Mr. Sorrell, said Andrew Wallach, an analyst with Drexel Burnham Lambert.@@@@1@31@@oe@2-2-2013
21317057@unknown@formal@none@1@S@"It's probably a reasonable transition.@@@@1@5@@oe@2-2-2013
21317058@unknown@formal@none@1@S@Hopefully, he'll be the answer to the problems they've had in New York."@@@@1@13@@oe@2-2-2013
21317059@unknown@formal@none@1@S@Sale of Saatchi Unit Close@@@@1@5@@oe@2-2-2013
21317060@unknown@formal@none@1@S@Computer Sciences Corp., El Segundo, Calif., said it is close to making final an agreement to buy Cleveland Consulting Associates from Saatchi & Saatchi@@@@1@24@@oe@2-2-2013
21317061@unknown@formal@none@1@S@Computer Sciences wouldn't disclose the proposed purchase price for Cleveland Consulting, which counsels companies on logistics and supply.@@@@1@18@@oe@2-2-2013
21317062@unknown@formal@none@1@S@But David Lord, managing editor of Consultants News, an industry publication based in Fitzwilliam, N.H., said an industry standard would suggest a purchase price of between one and two times Cleveland Consulting's approximately $15 million annual revenue.@@@@1@37@@oe@2-2-2013
21317063@unknown@formal@none@1@S@Both Saatchi & Saatchi, which announced its intention to sell off most of its consulting business in June, and Cleveland Consulting declined to comment on the proposed sale.@@@@1@28@@oe@2-2-2013
21317064@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
21317065@unknown@formal@none@1@S@NEW ACCOUNT:@@@@1@2@@oe@2-2-2013
21317066@unknown@formal@none@1@S@AmBase Corp., New York, awarded the ad account for its Home Insurance Co. unit to Biederman, Kelly & Shaffer, New York.@@@@1@21@@oe@2-2-2013
21317067@unknown@formal@none@1@S@Billings weren't disclosed. . . .@@@@1@6@@oe@2-2-2013
21317068@unknown@formal@none@1@S@Puerto Rico Telephone Co. awarded its $3 million account to West Indies & Grey, Grey Advertising's office in Puerto Rico.@@@@1@20@@oe@2-2-2013
21317069@unknown@formal@none@1@S@DIET COKE:@@@@1@2@@oe@2-2-2013
21317070@unknown@formal@none@1@S@Coca-Cola Co. yesterday said singer Elton John signed to appear in an ad for Diet Coke.@@@@1@16@@oe@2-2-2013
21317071@unknown@formal@none@1@S@Details of the commercial, which will be part of the brand's 1990 advertising campaign, weren't disclosed.@@@@1@16@@oe@2-2-2013
21317072@unknown@formal@none@1@S@Mr. John becomes the latest of many music stars, including George Michael and Whitney Houston, to appear in ads for the diet drink.@@@@1@23@@oe@2-2-2013
21318001@unknown@formal@none@1@S@Turner Broadcasting System Inc. said it formed a unit to make and distribute movies to theaters overseas and, eventually, to U.S. theaters, too.@@@@1@23@@oe@2-2-2013
21318002@unknown@formal@none@1@S@The operator of cable-television networks said the new Turner Pictures unit will produce movies that will premiere on Turner Broadcasting's Turner Network Television channel, or TNT, and then will be released internationally in movie theaters.@@@@1@35@@oe@2-2-2013
21318003@unknown@formal@none@1@S@The unit's first two offerings are slated to be "The Secret Life of Ian Fleming," a dramatization about the former British spy who wrote the James Bond novels, and "Treasure Island," produced by Charlton Heston, who also stars in the movie.@@@@1@41@@oe@2-2-2013
21318004@unknown@formal@none@1@S@Ted Turner, Turner Broadcasting's chairman, was named chairman of Turner Pictures, and Gerry Hogan, president of Turner Entertainment Networks, was named president of the unit.@@@@1@25@@oe@2-2-2013
21318005@unknown@formal@none@1@S@In an interview, Mr. Hogan said the subsidiary's primary mission will be to make movies for TNT and to distribute them internationally.@@@@1@22@@oe@2-2-2013
21318006@unknown@formal@none@1@S@But he said Turner Broadcasting already has found some ideas that might work well as films for theatrical release in the U.S.@@@@1@22@@oe@2-2-2013
21318007@unknown@formal@none@1@S@"When that occurs, and when the time is right, we'll release the films in the U.S.," he said, adding that Turner Pictures may develop such movies next year for domestic release in 1991.@@@@1@33@@oe@2-2-2013
21318008@unknown@formal@none@1@S@Turner has made several movies, docudramas and documentaries for its networks in recent years, but the company has never acted as a full-fledged movie studio and released its own pictures to theaters.@@@@1@32@@oe@2-2-2013
21318009@unknown@formal@none@1@S@Mr. Hogan said "The Secret Life of Ian Fleming" and "Treasure Island" cost more than $6 million each to make, which is only about one-third the cost of most movies made for theatrical release.@@@@1@34@@oe@2-2-2013
21318010@unknown@formal@none@1@S@The Turner move is in line with a cable-TV trend toward more original programming -- and toward finding more ways to amortize the high cost of producing films.@@@@1@28@@oe@2-2-2013
21318011@unknown@formal@none@1@S@In July, Viacom Inc. formed Viacom Pictures to produce 12 low-budget movies a year that will premiere on Showtime network and be distributed later in various markets, including foreign theaters.@@@@1@30@@oe@2-2-2013
21319001@unknown@formal@none@1@S@In a sign the stock slump hasn't quieted Europe's takeover fever, Cie. Financiere de Paribas said it intends to bid for one of France's other large financial and industrial holding companies, Cie. de Navigation Mixte.@@@@1@35@@oe@2-2-2013
21319002@unknown@formal@none@1@S@Paribas said that once it receives the go-ahead from French stock market authorities, it will offer to boost its Navigation Mixte stake to 66.7% from the current 18.7%.@@@@1@28@@oe@2-2-2013
21319003@unknown@formal@none@1@S@Its cash-or-shares bid values Navigation Mixte at about 22.82 billion francs ($3.62 billion), making this one of France's largest-ever attempted takeovers.@@@@1@21@@oe@2-2-2013
21319004@unknown@formal@none@1@S@The cost of buying the additional 48% stake would be 10.95 billion francs ($1.74 billion).@@@@1@15@@oe@2-2-2013
21319005@unknown@formal@none@1@S@The move would greatly boost Paribas's stake in the insurance, transport and food businesses, where Navigation Mixte is strong.@@@@1@19@@oe@2-2-2013
21319006@unknown@formal@none@1@S@It also would make Paribas a major French ally of West Germany's Allianz AG insurance group.@@@@1@16@@oe@2-2-2013
21319007@unknown@formal@none@1@S@Allianz holds a 50% stake in Navigation Mixte's insurance interests, acquired three weeks ago.@@@@1@14@@oe@2-2-2013
21319008@unknown@formal@none@1@S@Those include Rhin et Moselle Vie and Via Assurances.@@@@1@9@@oe@2-2-2013
21319009@unknown@formal@none@1@S@Long considered a potential takeover target, Navigation Mixte had hoped Allianz would help protect it from raiders.@@@@1@17@@oe@2-2-2013
21319010@unknown@formal@none@1@S@That idea may have backfired.@@@@1@5@@oe@2-2-2013
21319011@unknown@formal@none@1@S@Paribas is Allianz's main French bank, and the Munich-based group said it intends to stay neutral.@@@@1@16@@oe@2-2-2013
21319012@unknown@formal@none@1@S@Navigation Mixte said it wouldn't have any comment until its board meets Wednesday.@@@@1@13@@oe@2-2-2013
21319013@unknown@formal@none@1@S@But Navigation Mixte is loosely held and hard to defend.@@@@1@10@@oe@2-2-2013
21319014@unknown@formal@none@1@S@"The defensive options are limited," says Philippe Braye, a partner in portfolio management concern France Finance Quatre.@@@@1@17@@oe@2-2-2013
21319015@unknown@formal@none@1@S@"Who would bid against Paribas?"@@@@1@5@@oe@2-2-2013
21319016@unknown@formal@none@1@S@If the Paribas bid succeeds, it will be the second time in two months a big French investment banking group has snapped up an insurance group.@@@@1@26@@oe@2-2-2013
21319017@unknown@formal@none@1@S@Last month, Paribas's archrival, Cie. Financiere de Suez, won a battle for Groupe Victoire, France's second-largest private-sector insurer, which itself had just acquired West Germany's Colonia Versicherung AG.@@@@1@28@@oe@2-2-2013
21319018@unknown@formal@none@1@S@That complex bid was billed as France's largest takeover ever (this one is slightly smaller).@@@@1@15@@oe@2-2-2013
21319019@unknown@formal@none@1@S@Moreover, Suez had just finished winning an even larger battle last year for control of Societe Generale de Belgique.@@@@1@19@@oe@2-2-2013
21319020@unknown@formal@none@1@S@Paribas officials, once considered France's toughest bankers, felt abashed at Suez's success and its rapid growth.@@@@1@16@@oe@2-2-2013
21319021@unknown@formal@none@1@S@Although Paribas denies it, analysts say the new bid in part simply reflects the continuing rivalry between France's two largest investment banking groups.@@@@1@23@@oe@2-2-2013
21319022@unknown@formal@none@1@S@It also reflects the broader pressure on companies in Europe to keep up as the European Community prepares to reduce internal trade barriers by 1992.@@@@1@25@@oe@2-2-2013
21319023@unknown@formal@none@1@S@Although Paribas Chairman Michel Francois-Poncet wouldn't rule out eventually selling all of Navigation Mixte's insurance operations to Allianz, he stressed the potential for the two groups instead to cooperate.@@@@1@29@@oe@2-2-2013
21319024@unknown@formal@none@1@S@He also told reporters the acquisition would give Paribas fresh diversity, bringing it properties in food and transport where it has been weak.@@@@1@23@@oe@2-2-2013
21319025@unknown@formal@none@1@S@Navigation Mixte has investments in a sugar company, a food and canning concern, a bakery and bus and trucking firms, among others.@@@@1@22@@oe@2-2-2013
21319026@unknown@formal@none@1@S@And Navigation Mixte has a huge hidden attraction.@@@@1@8@@oe@2-2-2013
21319027@unknown@formal@none@1@S@Payment by Allianz for the insurance interests it has just bought will help swell the French concern's treasury to an estimated 11 billion francs.@@@@1@24@@oe@2-2-2013
21319028@unknown@formal@none@1@S@Paribas said it will bid 1,850 francs a share for Navigation Mixte shares that qualify for a full yearly dividend, and 1,800 francs for those created July 1, which are eligible for partial dividends.@@@@1@34@@oe@2-2-2013
21319029@unknown@formal@none@1@S@Alternatively, it said it would offer three Paribas shares, themselves eligible for dividends as of next Jan. 1, for one Navigation Mixte share.@@@@1@23@@oe@2-2-2013
21319030@unknown@formal@none@1@S@Paribas shares closed down 30 francs at 610 francs, and Navigation Mixte shares were suspended at 1,800 francs pending the outcome of the bid.@@@@1@24@@oe@2-2-2013
21319031@unknown@formal@none@1@S@Paribas said it would publish details of its bid once authorities clear it.@@@@1@13@@oe@2-2-2013
21319032@unknown@formal@none@1@S@This is one of the first bids under new takeover rules aimed at encouraging open bids instead of gradual accumulation of large stakes.@@@@1@23@@oe@2-2-2013
21319033@unknown@formal@none@1@S@Some financial sources said privately that Paribas blundered in failing to move sooner for the insurance and industrial group, bidding only after speculation had pushed up the price.@@@@1@28@@oe@2-2-2013
21319034@unknown@formal@none@1@S@Mr. Francois-Poncet responded that his group initially intended to take only a minority stake, striking an alliance with current management.@@@@1@20@@oe@2-2-2013
21319035@unknown@formal@none@1@S@When notoriously independent-minded Navigation Mixte Chairman Marc Fournier rejected Paribas's offer and began buying Paribas shares in retaliation, Mr. Francois-Poncet said, he felt obliged to bid for control.@@@@1@28@@oe@2-2-2013
21319036@unknown@formal@none@1@S@He told reporters he had information that Mr. Fournier was preparing to buy as much as 20% of Paribas, up from less than 5% currently.@@@@1@25@@oe@2-2-2013
21319037@unknown@formal@none@1@S@A bid against Paribas couldn't be ruled out.@@@@1@8@@oe@2-2-2013
21319038@unknown@formal@none@1@S@France's second-largest government-owned insurance company, Assurances Generales de France, has been building its own Navigation Mixte stake, currently thought to be between 8% and 10%.@@@@1@25@@oe@2-2-2013
21319039@unknown@formal@none@1@S@Analysts said they don't think it is contemplating a takeover, however, and its officials couldn't be reached.@@@@1@17@@oe@2-2-2013
21320001@unknown@formal@none@1@S@Crude oil futures prices fell further as analysts and traders said OPEC oil producers aren't putting the brakes on output ahead of the traditionally weak first quarter.@@@@1@27@@oe@2-2-2013
21320002@unknown@formal@none@1@S@In trading on the New York Mercantile Exchange, the U.S. benchmark West Texas Intermediate crude fell 39 cents a barrel to $19.76 for December delivery.@@@@1@25@@oe@2-2-2013
21320003@unknown@formal@none@1@S@Petroleum products prices also declined.@@@@1@5@@oe@2-2-2013
21320004@unknown@formal@none@1@S@Analysts pointed to reports that the Organization of Petroleum Exporting Countries is producing substantially more than its official limit of 20.5 million barrels a day, with some accounts putting the 13-nation group's output as high as 23 million barrels a day.@@@@1@41@@oe@2-2-2013
21320005@unknown@formal@none@1@S@That level of production didn't take its toll on futures prices for the fourth quarter, when demand is traditionally strong.@@@@1@20@@oe@2-2-2013
21320006@unknown@formal@none@1@S@But because first-quarter demand is normally the weakest of the year, several market participants say, OPEC production will have to decline to keep prices from eroding further.@@@@1@27@@oe@2-2-2013
21320007@unknown@formal@none@1@S@The group plans to meet in a month to discuss production strategy for early 1990.@@@@1@15@@oe@2-2-2013
21320008@unknown@formal@none@1@S@With prices already headed lower, news of a series of explosions at a major Phillips Petroleum Co. chemical facility on the Houston Ship Channel also was bearish for prices.@@@@1@29@@oe@2-2-2013
21320009@unknown@formal@none@1@S@Even though such facilities use a relatively small amount of crude, analysts say, now the facility won't need any, at a time of already high availability.@@@@1@26@@oe@2-2-2013
21320010@unknown@formal@none@1@S@The Phillips plant makes polyethylene, polypropylene and other plastic products.@@@@1@10@@oe@2-2-2013
21320011@unknown@formal@none@1@S@A company official said the explosions began when a seal blew out.@@@@1@12@@oe@2-2-2013
21320012@unknown@formal@none@1@S@Dozens of workers were injured, authorities said.@@@@1@7@@oe@2-2-2013
21320013@unknown@formal@none@1@S@There was no immediate estimate of damage from the company.@@@@1@10@@oe@2-2-2013
21320014@unknown@formal@none@1@S@Some petroleum futures traders say technical considerations now will help to put downward pressure on futures prices.@@@@1@17@@oe@2-2-2013
21320015@unknown@formal@none@1@S@For instance, one trader said that prices inevitably will go lower now that they've fallen below $20 a barrel.@@@@1@19@@oe@2-2-2013
21320016@unknown@formal@none@1@S@"Our technician is a little bearish now that we've taken out $20," he said.@@@@1@14@@oe@2-2-2013
21320017@unknown@formal@none@1@S@In other commodity markets yesterday:@@@@1@5@@oe@2-2-2013
21320018@unknown@formal@none@1@S@COPPER:@@@@1@1@@oe@2-2-2013
21320019@unknown@formal@none@1@S@The selling that started on Friday continued yesterday.@@@@1@8@@oe@2-2-2013
21320020@unknown@formal@none@1@S@The December contract fell 3.85 cents a pound to $1.1960.@@@@1@10@@oe@2-2-2013
21320021@unknown@formal@none@1@S@London Metal Exchange warehouse stocks were down only 4,800 metric tons for the week to 84,500 tons; expectations late last week were a drop of 10,000 to 15,000 tons.@@@@1@29@@oe@2-2-2013
21320022@unknown@formal@none@1@S@The New York market made its high for the day on the opening and when it dropped below the $1.23-a-pound level, selling picked up as previous buyers bailed out of their positions and aggressive short sellers -- anticipating further declines -- moved in.@@@@1@43@@oe@2-2-2013
21320023@unknown@formal@none@1@S@Fund selling also picked up at that point.@@@@1@8@@oe@2-2-2013
21320024@unknown@formal@none@1@S@According to Bernard Savaiko, senior commodity analyst at PaineWebber, the only stability to the market came when short sellers periodically moved in to cover their positions by buying contracts.@@@@1@29@@oe@2-2-2013
21320025@unknown@formal@none@1@S@This activity produced small rallies, which in turn attracted new short selling.@@@@1@12@@oe@2-2-2013
21320026@unknown@formal@none@1@S@Mr. Savaiko noted that copper had a steep fall in spite of a weak dollar, which would normally support the U.S. copper market.@@@@1@23@@oe@2-2-2013
21320027@unknown@formal@none@1@S@Such support usually comes from arbitragers who use a strong British pound to buy copper in New York.@@@@1@18@@oe@2-2-2013
21320028@unknown@formal@none@1@S@"The sell-off would probably have been worse if the dollar had been strong," he said.@@@@1@15@@oe@2-2-2013
21320029@unknown@formal@none@1@S@Copper has been stuck in a trading range of $1.19 to $1.34.@@@@1@12@@oe@2-2-2013
21320030@unknown@formal@none@1@S@Mr. Savaiko believes that if copper falls below the bottom of this range the next significant support level will be about $1.04.@@@@1@22@@oe@2-2-2013
21320031@unknown@formal@none@1@S@PRECIOUS METALS:@@@@1@2@@oe@2-2-2013
21320032@unknown@formal@none@1@S@Platinum and palladium struggled to maintain their prices all day despite news stories over the weekend that recent cold fusion experiments, which use both metals, showed signs of producing extra heat.@@@@1@31@@oe@2-2-2013
21320033@unknown@formal@none@1@S@January platinum closed down $2.80 an ounce at $486.30, nearly $4 above its low for the day.@@@@1@17@@oe@2-2-2013
21320034@unknown@formal@none@1@S@December palladium was off $1.55 an ounce at $137.20.@@@@1@9@@oe@2-2-2013
21320035@unknown@formal@none@1@S@Platinum is believed to have good support around $480 and palladium at around $130.@@@@1@14@@oe@2-2-2013
21320036@unknown@formal@none@1@S@Some traders were thought to be waiting for the auto sales report, which will be released today.@@@@1@17@@oe@2-2-2013
21320037@unknown@formal@none@1@S@Such sales are watched closely by platinum and palladium traders because both metals are used in automobile catalytic converters.@@@@1@19@@oe@2-2-2013
21320038@unknown@formal@none@1@S@Mr. Savaiko theorized that the news on cold fusion didn't affect the market yesterday because many traders have already been badly burnt by such stories.@@@@1@25@@oe@2-2-2013
21320039@unknown@formal@none@1@S@He said the traders are demanding a higher level of proof before they will buy palladium again.@@@@1@17@@oe@2-2-2013
21320040@unknown@formal@none@1@S@Also weighing on both metals' prices is the role of the chief supplier, the Soviet Union.@@@@1@16@@oe@2-2-2013
21320041@unknown@formal@none@1@S@Many analysts believe that the Soviets' thirst for dollars this year to buy grain and other Western commodities and goods will bring them to the market whenever prices rally very much.@@@@1@31@@oe@2-2-2013
21320042@unknown@formal@none@1@S@GRAINS AND SOYBEANS:@@@@1@3@@oe@2-2-2013
21320043@unknown@formal@none@1@S@Prices closed mixed as contracts reacted to largely offsetting bullish and bearish news.@@@@1@13@@oe@2-2-2013
21320044@unknown@formal@none@1@S@On the Chicago Board of Trade, soybeans for November delivery closed at $5.63 a bushel, down half a cent, while the December wheat contract rose three-quarters of a cent to $4.0775 a bushel.@@@@1@33@@oe@2-2-2013
21320045@unknown@formal@none@1@S@Supporting prices was the announcement late Friday of additional grain sales to the Soviet Union.@@@@1@15@@oe@2-2-2013
21320046@unknown@formal@none@1@S@But acting as a drag on prices was the improved harvest weather over the weekend and the prospect for continued fair weather this week over much of the Farm Belt.@@@@1@30@@oe@2-2-2013
21320047@unknown@formal@none@1@S@Strong farmer selling over the weekend also weighed on prices.@@@@1@10@@oe@2-2-2013
21320048@unknown@formal@none@1@S@SUGAR:@@@@1@1@@oe@2-2-2013
21320049@unknown@formal@none@1@S@World prices tumbled, mostly from their own weight, according to analysts.@@@@1@11@@oe@2-2-2013
21320050@unknown@formal@none@1@S@The March contract ended at 13.79 cents a pound, down 0.37 cent.@@@@1@12@@oe@2-2-2013
21320051@unknown@formal@none@1@S@For the past week or so, traders have been expecting India to buy between 150,000 and 200,000 tons of refined sugar, and there have been expectations of a major purchase by Japan.@@@@1@32@@oe@2-2-2013
21320052@unknown@formal@none@1@S@But with no reports of either country actually entering the market, analysts said, futures prices became vulnerable.@@@@1@17@@oe@2-2-2013
21320053@unknown@formal@none@1@S@Developing countries such as India, some analysts said, seem to have made it a point to stay away whenever sugar reached the top of its trading range, around 14.75 cents, and wait for prices to return to the bottom of the range, around 13.50 cents.@@@@1@45@@oe@2-2-2013
21320054@unknown@formal@none@1@S@But Erik Dunlaevy, a sugar analyst with Balfour Maclaine International Ltd., said the explanation for the latest drop in sugar prices is much simpler: Speculators, he said, "got too long too soon and ran into resistance around the old contract highs."@@@@1@41@@oe@2-2-2013
21320055@unknown@formal@none@1@S@A PaineWebber analyst said that in light of a new estimate of a production increase of four million metric tons and only a modest increase in consumption, sugar isn't likely to rise above the top of its trading range without a crop problem in a major producing country.@@@@1@48@@oe@2-2-2013
21320056@unknown@formal@none@1@S@COCOA:@@@@1@1@@oe@2-2-2013
21320057@unknown@formal@none@1@S@Futures rallied modestly.@@@@1@3@@oe@2-2-2013
21320058@unknown@formal@none@1@S@The December contract rose $33 a metric ton to $1,027, near its high for the day.@@@@1@16@@oe@2-2-2013
21320059@unknown@formal@none@1@S@Gill & Duffus Ltd., a British cocoa-trading house, estimated that the 1989-90 world cocoa surplus would be 231,000 tons, down from 314,000 tons for the previous year.@@@@1@27@@oe@2-2-2013
21320060@unknown@formal@none@1@S@Market technicians were encouraged by the price patterns, which in the past have preceded sharp rallies.@@@@1@16@@oe@2-2-2013
21320061@unknown@formal@none@1@S@Recent prices for cocoa have been near levels last seen in the mid-1970s.@@@@1@13@@oe@2-2-2013
21320062@unknown@formal@none@1@S@At such prices, according to Mr. Savaiko, bargain hunting and short-covering -- buying back of contracts previously sold -- by speculators isn't uncommon.@@@@1@23@@oe@2-2-2013
21320063@unknown@formal@none@1@S@But Mr. Savaiko expects stepped-up producer selling at around the $1,040 to $1,050 level.@@@@1@14@@oe@2-2-2013
21320064@unknown@formal@none@1@S@He also noted that a strong sterling market yesterday might have helped cocoa in New York as arbitragers took advantage of the currency move.@@@@1@24@@oe@2-2-2013
21320065@unknown@formal@none@1@S@Sandra Kaul, research analyst at Shearson Lehman Hutton, said the market pushed higher mainly in anticipation of a late harvest in the Ivory Coast, a major cocoa producer.@@@@1@28@@oe@2-2-2013
21321001@unknown@formal@none@1@S@Rockwell International Corp. bought out Ikegai Corp.'s interest in Ikegai-Goss, a joint venture of the two companies based in Tokyo.@@@@1@20@@oe@2-2-2013
21321002@unknown@formal@none@1@S@The price was 3.6 billion yen ($25 million).@@@@1@8@@oe@2-2-2013
21321003@unknown@formal@none@1@S@The agreement provides that Ikegai Corp. will remain a supplier to Ikegai-Goss, which makes printing presses for the newspaper industry.@@@@1@20@@oe@2-2-2013
21321004@unknown@formal@none@1@S@The purchase was made by Rockwell Graphic Systems, a Chicago subsidiary of the El Segundo, Calif., concern.@@@@1@17@@oe@2-2-2013
21321005@unknown@formal@none@1@S@Ikegai-Goss, which has about 200 employees, is among the industry leaders in keyless inking technology, which reduces time and materials waste when preparing a press for printing.@@@@1@27@@oe@2-2-2013
21322001@unknown@formal@none@1@S@The bond market, which sometimes thrives on bad news, cheered yesterday's stock market sell-off and perceptions that the economy is growing weaker.@@@@1@22@@oe@2-2-2013
21322002@unknown@formal@none@1@S@Early in the day, bonds rose modestly on economists' forecasts that this week's slate of economic data will portray an economy headed for trouble.@@@@1@24@@oe@2-2-2013
21322003@unknown@formal@none@1@S@Such news is good for bonds because economic weakness sometimes causes the Federal Reserve to lower interest rates in an effort to stimulate the economy and stave off a recession.@@@@1@30@@oe@2-2-2013
21322004@unknown@formal@none@1@S@For example, today the Department of Commerce is scheduled to release the September durable goods report.@@@@1@16@@oe@2-2-2013
21322005@unknown@formal@none@1@S@The consensus forecast of 14 economists surveyed by Dow Jones Capital Markets Report is for a 1.2% drop in September orders.@@@@1@21@@oe@2-2-2013
21322006@unknown@formal@none@1@S@That would follow a 3.9% advance in August.@@@@1@8@@oe@2-2-2013
21322007@unknown@formal@none@1@S@Bonds received a bigger boost later in the day when stock prices moved broadly lower.@@@@1@15@@oe@2-2-2013
21322008@unknown@formal@none@1@S@The Dow Jones Industrial Average fell 26.23 points to 2662.91.@@@@1@10@@oe@2-2-2013
21322009@unknown@formal@none@1@S@"Bond investors have been watching stocks closely," said Joel Marver, chief fixed-income analyst at Technical Data Global Markets Group.@@@@1@19@@oe@2-2-2013
21322010@unknown@formal@none@1@S@"When you get a big sell-off in equities, money starts to shift into bonds," which are considered safer, he said.@@@@1@20@@oe@2-2-2013
21322011@unknown@formal@none@1@S@The Treasury's benchmark 30-year bond ended about 1/2 point higher, or up about $5 for each $1,000 face amount, while the yield slid to 7.93% from 7.98% Friday.@@@@1@28@@oe@2-2-2013
21322012@unknown@formal@none@1@S@Municipals ended mixed, while mortgage-backed and investment-grade corporate bonds rose.@@@@1@10@@oe@2-2-2013
21322013@unknown@formal@none@1@S@Prices of high-yield, high-risk corporate securities ended unchanged.@@@@1@8@@oe@2-2-2013
21322014@unknown@formal@none@1@S@In more evidence of the growing division between "good" and "bad" junk bonds, a $150 million issue by Imo Industries Inc. was snapped up by investors while underwriters for Beatrice Co.'s $350 million issue are considering restructuring the deal to attract buyers.@@@@1@42@@oe@2-2-2013
21322015@unknown@formal@none@1@S@In the Treasury market, analysts expect bond prices to trade in narrow ranges this week as the market takes in positive and negative news.@@@@1@24@@oe@2-2-2013
21322016@unknown@formal@none@1@S@"On the negative side, the market will be affected by constant supply in all sectors of the market," said William M. Brachfeld, economist at Daiwa Securities America Inc.@@@@1@28@@oe@2-2-2013
21322017@unknown@formal@none@1@S@"On the other hand, we have economic news that is {expected to be} relatively positive for the bond market.@@@@1@19@@oe@2-2-2013
21322018@unknown@formal@none@1@S@We will go back and forth with a tilt toward slightly lower yields," he said.@@@@1@15@@oe@2-2-2013
21322019@unknown@formal@none@1@S@Today, the Treasury will sell $10 billion of new two-year notes.@@@@1@11@@oe@2-2-2013
21322020@unknown@formal@none@1@S@Tomorrow, Resolution Funding Corp., a division of a new government agency created to bail out the nation's troubled thrifts, will hold its first bond auction at which it will sell $4.5 billion of 30-year bonds.@@@@1@35@@oe@2-2-2013
21322021@unknown@formal@none@1@S@So far, money managers and other bond buyers haven't shown much interest in the Refcorp bonds.@@@@1@16@@oe@2-2-2013
21322022@unknown@formal@none@1@S@Analysts have mixed views about the two-year note auction.@@@@1@9@@oe@2-2-2013
21322023@unknown@formal@none@1@S@While some say the auction should proceed smoothly, others contend that yesterday's sale of $2.58 billion of asset-backed securities by Ford Motor Credit Corp. may have siphoned some potential institutional buyers from the government's note sale.@@@@1@36@@oe@2-2-2013
21322024@unknown@formal@none@1@S@The division of auto maker Ford Motor Co. made its debut in the asset-backed securities market with the second-largest issue in the market's four-year history.@@@@1@25@@oe@2-2-2013
21322025@unknown@formal@none@1@S@The company offered securities backed by automobile loans through an underwriting group headed by First Boston Corp.@@@@1@17@@oe@2-2-2013
21322026@unknown@formal@none@1@S@The issue yields 8.90% and carries a guarantee covering 9% of the deal from the company.@@@@1@16@@oe@2-2-2013
21322027@unknown@formal@none@1@S@First Boston sweetened the terms from the original yield estimate in an apparent effort to place the huge offering.@@@@1@19@@oe@2-2-2013
21322028@unknown@formal@none@1@S@The issue was offered at a yield nearly one percentage point above the yield on two-year Treasurys.@@@@1@17@@oe@2-2-2013
21322029@unknown@formal@none@1@S@The only asset-backed deal larger than Ford's was a $4 billion offering by General Motors Acceptance Corp. in 1986.@@@@1@19@@oe@2-2-2013
21322030@unknown@formal@none@1@S@Treasury Securities@@@@1@2@@oe@2-2-2013
21322031@unknown@formal@none@1@S@Treasury bonds were 1/8 to 1/2 point higher yesterday in light trading.@@@@1@12@@oe@2-2-2013
21322032@unknown@formal@none@1@S@The benchmark 30-year bond ended at a price of 102 3/32, compared with 101 17/32 Friday.@@@@1@16@@oe@2-2-2013
21322033@unknown@formal@none@1@S@The latest 10-year notes were quoted late at 100 17/32 to yield 7.90%, compared with 100 3/32 to yield 7.97%.@@@@1@20@@oe@2-2-2013
21322034@unknown@formal@none@1@S@The latest two-year notes were quoted late at 100 28/32 to yield 7.84%.@@@@1@13@@oe@2-2-2013
21322035@unknown@formal@none@1@S@Short-term rates rose yesterday at the government's weekly Treasury bill auction, compared with the previous bill sale.@@@@1@17@@oe@2-2-2013
21322036@unknown@formal@none@1@S@The Treasury sold $7.81 billion of three-month bills with an average discount rate of 7.52%, the highest since the average of 7.63% at the auction on Oct. 10.@@@@1@28@@oe@2-2-2013
21322037@unknown@formal@none@1@S@The $7.81 billion of six-month Treasury bills were sold with an average discount rate of 7.50%, the highest since the average of 7.60% at the Oct. 10 auction.@@@@1@28@@oe@2-2-2013
21322038@unknown@formal@none@1@S@The rates were up from last week's auction, when they were 7.37% and 7.42%, respectively.@@@@1@15@@oe@2-2-2013
21322039@unknown@formal@none@1@S@Here are auction details:@@@@1@4@@oe@2-2-2013
21322040@unknown@formal@none@1@S@Rates are determined by the difference between the purchase price and face value.@@@@1@13@@oe@2-2-2013
21322041@unknown@formal@none@1@S@Thus, higher bidding narrows the investor's return while lower bidding widens it.@@@@1@12@@oe@2-2-2013
21322042@unknown@formal@none@1@S@The percentage rates are calculated on a 360-day year, while the coupon-equivalent yield is based on a 365-day year.@@@@1@19@@oe@2-2-2013
21322043@unknown@formal@none@1@S@Both issues are dated Oct. 26.@@@@1@6@@oe@2-2-2013
21322044@unknown@formal@none@1@S@The 13-week bills mature Jan. 25, 1990, and the 26-week bills mature April 26, 1990.@@@@1@15@@oe@2-2-2013
21322045@unknown@formal@none@1@S@Corporate Issues@@@@1@2@@oe@2-2-2013
21322046@unknown@formal@none@1@S@Investment-grade corporates closed about 1/4 point higher in quiet trading.@@@@1@10@@oe@2-2-2013
21322047@unknown@formal@none@1@S@In the junk bond market, Imo Industries' issue of 12-year debentures, considered to be one of the market's high-quality credits, was priced at par to yield 12%.@@@@1@27@@oe@2-2-2013
21322048@unknown@formal@none@1@S@Peter Karches, managing director at underwriter Morgan Stanley & Co., said the issue was oversubscribed.@@@@1@15@@oe@2-2-2013
21322049@unknown@formal@none@1@S@"It's a segmented market, and if you have a good, strong credit, people have an appetite for it," he said.@@@@1@20@@oe@2-2-2013
21322050@unknown@formal@none@1@S@Morgan Stanley is expected to price another junk bond deal, $350 million of senior subordinated debentures by Continental Cablevision Inc., next Tuesday.@@@@1@22@@oe@2-2-2013
21322051@unknown@formal@none@1@S@In light of the recent skittishness in the high-yield market, junk bond analysts and traders expect other high-yield deals to be sweetened or restructured before they are offered to investors.@@@@1@30@@oe@2-2-2013
21322052@unknown@formal@none@1@S@In the case of Beatrice, Salomon Brothers Inc. is considering restructuring the reset mechanism on the $200 million portion of the offering.@@@@1@22@@oe@2-2-2013
21322053@unknown@formal@none@1@S@Under the originally contemplated terms of the offering, the notes would have been reset annually at a fixed spread above Treasurys.@@@@1@21@@oe@2-2-2013
21322054@unknown@formal@none@1@S@Under the new plan being considered, the notes would reset annually at a rate to maintain a market value of 101.@@@@1@21@@oe@2-2-2013
21322055@unknown@formal@none@1@S@Price talk calls for the reset notes to be priced at a yield of between 13 1/4% and 13 1/2%.@@@@1@20@@oe@2-2-2013
21322056@unknown@formal@none@1@S@Mortgage-Backed Securities@@@@1@2@@oe@2-2-2013
21322057@unknown@formal@none@1@S@Activity in derivative markets was strong with four new real estate mortgage investment conduits announced and talk of several more deals in today's session.@@@@1@24@@oe@2-2-2013
21322058@unknown@formal@none@1@S@The Federal National Mortgage Association offered $1.2 billion of Remic securities in three issues, and the Federal Home Loan Mortgage Corp. offered a $250 million Remic backed by 9% 15-year securities.@@@@1@31@@oe@2-2-2013
21322059@unknown@formal@none@1@S@Part of the reason for the heavy activity in derivative markets is that underwriters are repackaging mortgage securities being sold by thrifts.@@@@1@22@@oe@2-2-2013
21322060@unknown@formal@none@1@S@Traders said thrifts have stepped up their mortgage securities sales as the bond market has risen in the past two weeks.@@@@1@21@@oe@2-2-2013
21322061@unknown@formal@none@1@S@In the mortgage pass-through sector, active issues rose but trailed gains in the Treasury market.@@@@1@15@@oe@2-2-2013
21322062@unknown@formal@none@1@S@Government National Mortgage Association 9% securities for November delivery were quoted late yesterday at 98 10/32, up 10/32; and Freddie Mac 9% securities were at 97 1/2, up 1/4.@@@@1@29@@oe@2-2-2013
21322063@unknown@formal@none@1@S@The Ginnie Mae 9% issue was yielding 8.36% to a 12-year average life assumption, as the spread above the Treasury 10-year note widened slightly to 1.46 percentage points.@@@@1@28@@oe@2-2-2013
21322064@unknown@formal@none@1@S@Municipals@@@@1@1@@oe@2-2-2013
21322065@unknown@formal@none@1@S@A $575 million San Antonio, Texas, electric and gas system revenue bond issue dominated the new issue sector.@@@@1@18@@oe@2-2-2013
21322066@unknown@formal@none@1@S@The refunding issue, which had been in the wings for two months, was one of the chief offerings overhanging the market and limiting price appreciation.@@@@1@25@@oe@2-2-2013
21322067@unknown@formal@none@1@S@But alleviating that overhang failed to stimulate much activity in the secondary market, where prices were off 1/8 to up 3/8 point.@@@@1@22@@oe@2-2-2013
21322068@unknown@formal@none@1@S@An official with lead underwriter First Boston said orders for the San Antonio bonds were "on the slow side."@@@@1@19@@oe@2-2-2013
21322069@unknown@formal@none@1@S@He attributed that to the issue's aggressive pricing and large size, as well as the general lethargy in the municipal marketplace.@@@@1@21@@oe@2-2-2013
21322070@unknown@formal@none@1@S@In addition, he noted, the issue would normally be the type purchased by property and casualty insurers, but recent disasters, such as Hurricane Hugo and the Northern California earthquake, have stretched insurers' resources and damped their demand for bonds.@@@@1@39@@oe@2-2-2013
21322071@unknown@formal@none@1@S@A $137.6 million Maryland Stadium Authority sports facilities lease revenue bond issue appeared to be off to a good start.@@@@1@20@@oe@2-2-2013
21322072@unknown@formal@none@1@S@The issue was oversubscribed and "doing very well," according to an official with lead underwriter Morgan Stanley.@@@@1@17@@oe@2-2-2013
21322073@unknown@formal@none@1@S@Activity quieted in the New York City bond market, where heavy investor selling last week drove yields on the issuer's full faith and credit backed bonds up as much as 0.50 percentage point.@@@@1@33@@oe@2-2-2013
21322074@unknown@formal@none@1@S@Foreign Bonds@@@@1@2@@oe@2-2-2013
21322075@unknown@formal@none@1@S@Japanese government bonds ended lower after the dollar rose modestly against the yen.@@@@1@13@@oe@2-2-2013
21322076@unknown@formal@none@1@S@The turnaround in the dollar fueled bearish sentiment about Japan's bond market.@@@@1@12@@oe@2-2-2013
21322077@unknown@formal@none@1@S@The benchmark No. 111 4.6% bond due 1998 ended on brokers' screens at a price of 95.39, off 0.28.@@@@1@19@@oe@2-2-2013
21322078@unknown@formal@none@1@S@The yield rose to 5.38%.@@@@1@5@@oe@2-2-2013
21322079@unknown@formal@none@1@S@West German bond prices ended lower after a day of aimless trading.@@@@1@12@@oe@2-2-2013
21322080@unknown@formal@none@1@S@The benchmark 7% bond due October 1999 fell 0.20 point to 99.80 to yield 7.03%, while the 6 3/4% notes due July 1994 fell 0.10 to 97.65 to yield 7.34%.@@@@1@30@@oe@2-2-2013
21322081@unknown@formal@none@1@S@British government bonds ended slightly higher in quiet trading as investors looked ahead to today's British trade report.@@@@1@18@@oe@2-2-2013
21322082@unknown@formal@none@1@S@The benchmark 11 3/4% Treasury bond due 2003/2007 rose 1/8 to 111 21/32 to yield 10.11%, while the 12% issue of 1995 rose 3/32 to 103 23/32 to yield 11.01%.@@@@1@30@@oe@2-2-2013
21323001@unknown@formal@none@1@S@"The croaker's done gone from the hook --@@@@1@8@@oe@2-2-2013
21323002@unknown@formal@none@1@S@damn!@@@@1@1@@oe@2-2-2013
21323003@unknown@formal@none@1@S@My language sure goes to pot down here on the coast."@@@@1@11@@oe@2-2-2013
21323004@unknown@formal@none@1@S@The husky blond guide with the Aggie cap twists his face in mock fury.@@@@1@14@@oe@2-2-2013
21323005@unknown@formal@none@1@S@"I got to get back to school and straighten out my English."@@@@1@12@@oe@2-2-2013
21323006@unknown@formal@none@1@S@He has two more years at Texas A&M.@@@@1@8@@oe@2-2-2013
21323007@unknown@formal@none@1@S@Right now he takes people out to fish in the bays behind the barrier islands that curve for hundreds of miles along the eastern coast of Texas, enclosing milky green lagoons behind ridges of sand and grassy scrub that rim the deep blue of the Gulf beyond.@@@@1@47@@oe@2-2-2013
21323008@unknown@formal@none@1@S@There have been three days of hot, wind-swept rain, and now with the first sun we are after speckled seatrout, which with redfish provides most of the game fishing hereabouts.@@@@1@30@@oe@2-2-2013
21323009@unknown@formal@none@1@S@The little radio fizzes as other boats want to see if we have found any fish -- spotting location is everything in this sport.@@@@1@24@@oe@2-2-2013
21323010@unknown@formal@none@1@S@Negative answers crackle back.@@@@1@4@@oe@2-2-2013
21323011@unknown@formal@none@1@S@The fish often are plentiful around the pilings of the old gas wells that dot the flat surface like the remains of sunken ships.@@@@1@24@@oe@2-2-2013
21323012@unknown@formal@none@1@S@We go from one to the other.@@@@1@7@@oe@2-2-2013
21323013@unknown@formal@none@1@S@The sun is hot now though it's only 8 in the morning.@@@@1@12@@oe@2-2-2013
21323014@unknown@formal@none@1@S@The great silver clouds on the horizon build themselves on the pale water.@@@@1@13@@oe@2-2-2013
21323015@unknown@formal@none@1@S@We cruise toward another set of pilings.@@@@1@7@@oe@2-2-2013
21323016@unknown@formal@none@1@S@The guide scoops into a pail and puts a frantically wiggling croaker on the hook.@@@@1@15@@oe@2-2-2013
21323017@unknown@formal@none@1@S@Then he casts out.@@@@1@4@@oe@2-2-2013
21323018@unknown@formal@none@1@S@"Just wait for that tap-tap, that thump-thump.@@@@1@7@@oe@2-2-2013
21323019@unknown@formal@none@1@S@It comes real gentle before it pulls.@@@@1@7@@oe@2-2-2013
21323020@unknown@formal@none@1@S@Don't forget, trout have very soft mouths."@@@@1@7@@oe@2-2-2013
21323021@unknown@formal@none@1@S@The radio queries again.@@@@1@4@@oe@2-2-2013
21323022@unknown@formal@none@1@S@"Pickin' one or two," says the guide, chuckling.@@@@1@8@@oe@2-2-2013
21323023@unknown@formal@none@1@S@"You can tell they've got nothin'."@@@@1@6@@oe@2-2-2013
21323024@unknown@formal@none@1@S@A pair of black skimmers zig-zag past close to the surface.@@@@1@11@@oe@2-2-2013
21323025@unknown@formal@none@1@S@Soon we have our limit of the shimmering fish stippled in rose-gold and black.@@@@1@14@@oe@2-2-2013
21323026@unknown@formal@none@1@S@And we are the first back at the dock, where the great blue herons stand waiting by the cleaning benches.@@@@1@20@@oe@2-2-2013
21323027@unknown@formal@none@1@S@The guide is young and he knows this business but he wants a different life after college, such as working for IBM and wearing a necktie.@@@@1@26@@oe@2-2-2013
21323028@unknown@formal@none@1@S@This must be the last big stretch of the American seacoast that is "undeveloped."@@@@1@14@@oe@2-2-2013
21323029@unknown@formal@none@1@S@There are a few ramshackle fishing towns with quiet atolls of resort houses nearby.@@@@1@14@@oe@2-2-2013
21323030@unknown@formal@none@1@S@People are not apt to be self-conscious about the place or themselves.@@@@1@12@@oe@2-2-2013
21323031@unknown@formal@none@1@S@Texas is big and beautiful and they live here, that's all.@@@@1@11@@oe@2-2-2013
21323032@unknown@formal@none@1@S@Jutting out just to the north of us is the Blackjack Peninsula (after the oak, not the game) which forms the core of the Aransas Wildlife Refuge.@@@@1@27@@oe@2-2-2013
21323033@unknown@formal@none@1@S@It is famous as the winter home of the whooping crane, that symbol of the destruction of wild America.@@@@1@19@@oe@2-2-2013
21323034@unknown@formal@none@1@S@Last year a gunner shot a whooper by mistake thinking that it was a snow goose.@@@@1@16@@oe@2-2-2013
21323035@unknown@formal@none@1@S@He paid an immense fine and was lucky, according to a local wag, to escape the gas chamber.@@@@1@18@@oe@2-2-2013
21323036@unknown@formal@none@1@S@The peninsula comes off the vast southeastern alluvial plain with fields of rice and cotton and sorghum as far as the eye can see.@@@@1@24@@oe@2-2-2013
21323037@unknown@formal@none@1@S@Near the coast there are dense coverts of live oak interspersed with marshes and prairies.@@@@1@15@@oe@2-2-2013
21323038@unknown@formal@none@1@S@Deer, wild hog, armadillos and alligators are the glamour quadrupeds and the birds are innumerable, especially the herons and the spoonbills.@@@@1@21@@oe@2-2-2013
21323039@unknown@formal@none@1@S@Above the blossoms of lantana and scarlet pea the inky-brown and golden palamedes butterfly floats on its lazy wingbeat.@@@@1@19@@oe@2-2-2013
21323040@unknown@formal@none@1@S@Inland a few miles from the refuge there is a place called Tivoli, with a white church, a gas station and a grocery, the houses relatively close together for such a settlement in these parts.@@@@1@35@@oe@2-2-2013
21323041@unknown@formal@none@1@S@"Tivoli Motel," I read a sign in the usual pronunciation of the name as we whoosh through.@@@@1@17@@oe@2-2-2013
21323042@unknown@formal@none@1@S@"Here in south Texas we say Tie-vole-ee," my host gently corrects.@@@@1@11@@oe@2-2-2013
21323043@unknown@formal@none@1@S@Mr. King is the director of the Foreign Press Center in New York.@@@@1@13@@oe@2-2-2013
21324001@unknown@formal@none@1@S@AEG AG and Siemens AG said they will launch their previously announced joint venture for power semiconductors in January.@@@@1@19@@oe@2-2-2013
21324002@unknown@formal@none@1@S@The two West German electronics concerns said they have set up European Power Semiconductor Co. to merge their activities in the field.@@@@1@22@@oe@2-2-2013
21324003@unknown@formal@none@1@S@AEG and Siemens each will hold a 50% stake in the venture.@@@@1@12@@oe@2-2-2013
21324004@unknown@formal@none@1@S@The joint venture will have nominal capital of 50 million marks ($26.9 million) and 700 employees.@@@@1@16@@oe@2-2-2013
21324005@unknown@formal@none@1@S@It will develop, produce and market high-performance electronic parts.@@@@1@9@@oe@2-2-2013
21324006@unknown@formal@none@1@S@Siemens is West Germany's largest electronics group.@@@@1@7@@oe@2-2-2013
21324007@unknown@formal@none@1@S@AEG is 80% owned by Daimler-Benz AG, the country's biggest industrial concern.@@@@1@12@@oe@2-2-2013
21325001@unknown@formal@none@1@S@Dana Corp. said its third-quarter net income fell 27% to $29.6 million, or 72 cents a share, from $40.7 million, or $1 a share, a year earlier.@@@@1@27@@oe@2-2-2013
21325002@unknown@formal@none@1@S@Sales dropped 4% to $1.12 billion from $1.17 billion.@@@@1@9@@oe@2-2-2013
21325003@unknown@formal@none@1@S@The company, which supplies transmissions and other drive-train parts to auto makers, said about half the earnings drop came from the "virtual collapse" of the Venezuelan auto industry.@@@@1@28@@oe@2-2-2013
21325004@unknown@formal@none@1@S@The Venezuelan currency plummeted this year, making it difficult for auto makers there to afford imported parts.@@@@1@17@@oe@2-2-2013
21325005@unknown@formal@none@1@S@Dana also said it was hurt by slumping U.S. truck sales and by a strike at a parts supplier.@@@@1@19@@oe@2-2-2013
21325006@unknown@formal@none@1@S@The company, based in Toledo, Ohio, had said it expected reduced third-quarter profit.@@@@1@13@@oe@2-2-2013
21325007@unknown@formal@none@1@S@Mary Anne Sudol, an analyst at Fitch Investors in New York, said automotive suppliers were reporting lower profit almost "across the board."@@@@1@22@@oe@2-2-2013
21325008@unknown@formal@none@1@S@Southwood J. Morcott, Dana's president, said the company's decision to approve its normal fourth-quarter dividend indicated its underlying strength.@@@@1@19@@oe@2-2-2013
21326001@unknown@formal@none@1@S@Norimasa Furuta, president of Japan's Mazda Motor Corp., said the Japanese car maker is planning joint production with Ford Motor Co. in Europe ahead of the European Community's 1992 integration.@@@@1@30@@oe@2-2-2013
21326002@unknown@formal@none@1@S@Mr. Furuta didn't disclose further details of the arrangement at a news conference, but said the project would be undertaken with Ford's European subsidiary.@@@@1@24@@oe@2-2-2013
21326003@unknown@formal@none@1@S@A Ford official confirmed in Tokyo that the U.S. motor vehicle maker is studying such an arrangement.@@@@1@17@@oe@2-2-2013
21327001@unknown@formal@none@1@S@At age eight, Josephine Baker was sent by her mother to a white woman's house to do chores in exchange for meals and a place to sleep -- a place in the basement with the coal.@@@@1@36@@oe@2-2-2013
21327002@unknown@formal@none@1@S@At age 19, she was a Paris sensation, transformed from unwanted child to international sex symbol in just over a decade.@@@@1@21@@oe@2-2-2013
21327003@unknown@formal@none@1@S@It is the stuff of dreams, but also of traumas.@@@@1@10@@oe@2-2-2013
21327004@unknown@formal@none@1@S@Only the bravest spirits survive such roller coasters.@@@@1@8@@oe@2-2-2013
21327005@unknown@formal@none@1@S@And, for Ms. Baker, the ride was far from over.@@@@1@10@@oe@2-2-2013
21327006@unknown@formal@none@1@S@Her bare breasts, her dancing, her voice, her beauty and, perhaps most famously, her derriere, were prominent attractions, but courage of a rare sort made her remarkable life possible.@@@@1@29@@oe@2-2-2013
21327007@unknown@formal@none@1@S@Bricktop, another American black woman who found a measure of fame in Paris, said: "I don't think I've ever known anyone with a less complicated view of life, or whose life was more complicated than Josephine's."@@@@1@36@@oe@2-2-2013
21327008@unknown@formal@none@1@S@Men were a constant complication.@@@@1@5@@oe@2-2-2013
21327009@unknown@formal@none@1@S@Baker had lots of them.@@@@1@5@@oe@2-2-2013
21327010@unknown@formal@none@1@S@But she didn't trust them and didn't reward trust.@@@@1@9@@oe@2-2-2013
21327011@unknown@formal@none@1@S@As she saw one key love affair, the problem wasn't her infidelity, it was his jealousy.@@@@1@16@@oe@2-2-2013
21327012@unknown@formal@none@1@S@Her appetite for children also was large.@@@@1@7@@oe@2-2-2013
21327013@unknown@formal@none@1@S@She adopted 12 of assorted races, naming them the Rainbow Tribe, and driving her husband first to despair and then to Argentina.@@@@1@22@@oe@2-2-2013
21327014@unknown@formal@none@1@S@She made money, but spent more.@@@@1@6@@oe@2-2-2013
21327015@unknown@formal@none@1@S@Friends pitched in.@@@@1@3@@oe@2-2-2013
21327016@unknown@formal@none@1@S@Finally, Prince Rainier and Princess Grace saved her with the offer of a house in Monaco.@@@@1@16@@oe@2-2-2013
21327017@unknown@formal@none@1@S@Another lifelong complication, as Phyllis Rose makes clear in "Jazz Cleopatra: Josephine Baker in Her Time" (Doubleday, 321 pages, $22.50), was racism.@@@@1@22@@oe@2-2-2013
21327018@unknown@formal@none@1@S@Baker had the good luck to arrive in 1925 Paris, where blacks had become exotic.@@@@1@15@@oe@2-2-2013
21327019@unknown@formal@none@1@S@African art was in vogue and some intellectuals were writing breathlessly of a dawning age to be inspired by blacks.@@@@1@20@@oe@2-2-2013
21327020@unknown@formal@none@1@S@To be exotic was to be patronized as well as prized, but for the most part Paris was a friendly island in a racist world.@@@@1@25@@oe@2-2-2013
21327021@unknown@formal@none@1@S@Baker had bitter experience of bigotry from her St. Louis childhood and her days in New York theater, where she was judged too dark for an all-black chorus line (performing of course for all-white audiences).@@@@1@35@@oe@2-2-2013
21327022@unknown@formal@none@1@S@Paris loved her at first sight.@@@@1@6@@oe@2-2-2013
21327023@unknown@formal@none@1@S@"She just wiggled her fanny and all the French fell in love with her," sniffed the literary world's Maria Jolas, not entirely inaccurately.@@@@1@23@@oe@2-2-2013
21327024@unknown@formal@none@1@S@"One can hardly overemphasize the importance of her rear end," Ms. Rose writes.@@@@1@13@@oe@2-2-2013
21327025@unknown@formal@none@1@S@Ms. Rose, who teaches literature at Wesleyan University, quickly proceeds to overemphasize, claiming that Baker's dancing "had uncovered a new region for desire" and thereby ignoring centuries of tributes to the callipygous.@@@@1@32@@oe@2-2-2013
21327026@unknown@formal@none@1@S@"Jazz Cleopatra" contains other, more important, false notes that undermine what is, for the most part, a lively account of a life already familiar from earlier works.@@@@1@27@@oe@2-2-2013
21327027@unknown@formal@none@1@S@It is easy to see why Baker, a free spirit who broke many of the restraints convention places on women, attracts Ms. Rose, the author of "Parallel Lives," a wonderful study of Victorian marriage.@@@@1@34@@oe@2-2-2013
21327028@unknown@formal@none@1@S@Still, even the title raises questions about the author's vision of her subject.@@@@1@13@@oe@2-2-2013
21327029@unknown@formal@none@1@S@Baker's art was jazz only by the widest stretch of the term.@@@@1@12@@oe@2-2-2013
21327030@unknown@formal@none@1@S@To find parallels, other than sexual appeal, with Cleopatra, requires an equal stretch.@@@@1@13@@oe@2-2-2013
21327031@unknown@formal@none@1@S@Baker was 68 years old when she died in Paris, two days after the sold-out opening of her newest show: a movie-like ending to what was a cinematic life.@@@@1@29@@oe@2-2-2013
21327032@unknown@formal@none@1@S@In fact, Ms. Baker played scenes in Casablanca that could have made it into "Casablanca."@@@@1@15@@oe@2-2-2013
21327033@unknown@formal@none@1@S@During World War II, her uncomplicated view of life led her to the conclusion that the Nazis were evil and must be resisted, a decision made by only about 2% of French citizens.@@@@1@33@@oe@2-2-2013
21327034@unknown@formal@none@1@S@She was devoted to Charles de Gaulle's cause, accepting great financial sacrifice and considerable risk to become first a spy and then a one-woman USO tour for the forces of Free France.@@@@1@32@@oe@2-2-2013
21327035@unknown@formal@none@1@S@In Humphrey Bogart's nightclub, Victor Laszlo leads Free French sympathizers in "La Marseillaise" to drown out the Nazis.@@@@1@18@@oe@2-2-2013
21327036@unknown@formal@none@1@S@The night the Germans occupied all of France, Baker performed in Casablanca.@@@@1@12@@oe@2-2-2013
21327037@unknown@formal@none@1@S@The Free French wore black arm bands, and when she sang "J'ai deux amours" they wept.@@@@1@16@@oe@2-2-2013
21327038@unknown@formal@none@1@S@Ms. Rose is best on the early years and World War II.@@@@1@12@@oe@2-2-2013
21327039@unknown@formal@none@1@S@In her introduction, Ms. Rose writes that she feels she has much in common with Baker, but as "Jazz Cleopatra" goes on, it seems more rushed, as though the author were growing less interested.@@@@1@34@@oe@2-2-2013
21327040@unknown@formal@none@1@S@It doesn't help that sometimes Ms. Rose's language fails to deliver the effect she appears to want.@@@@1@17@@oe@2-2-2013
21327041@unknown@formal@none@1@S@One chapter opens: "World War II was not one of France's glorious moments."@@@@1@13@@oe@2-2-2013
21327042@unknown@formal@none@1@S@Elsewhere, in an attempt to explain without stating it plainly that Baker had a large gay following later in her career when she was an overdressed singer rather than underdressed dancer, Ms. Rose writes: "She was a female impersonator who happened to be a woman."@@@@1@45@@oe@2-2-2013
21327043@unknown@formal@none@1@S@One devoted fan who fell under Baker's spell in 1963 and began collecting Baker memorabilia was Bryan Hammond.@@@@1@18@@oe@2-2-2013
21327044@unknown@formal@none@1@S@In "Josephine Baker" (Jonathan Cape, 304 pages, $35), which was published in Britain last year and distributed in the U.S. this month, Mr. Hammond has used his collection to produce an album of photographs and drawings of the star.@@@@1@39@@oe@2-2-2013
21327045@unknown@formal@none@1@S@The text by Patrick O'Connor is a tough read, but the pictures make her magnetism clear and help explain why Ernest Hemingway called Baker "The most sensational woman anybody ever saw.@@@@1@31@@oe@2-2-2013
21327046@unknown@formal@none@1@S@Or ever will."@@@@1@3@@oe@2-2-2013
21327047@unknown@formal@none@1@S@Mr. Lescaze is foreign editor of the Journal.@@@@1@8@@oe@2-2-2013
21328001@unknown@formal@none@1@S@Manville, having rid itself of asbestos, now sells fiberglass, forest products, minerals and industrial goods.@@@@1@15@@oe@2-2-2013
21328002@unknown@formal@none@1@S@Heady stuff it's not.@@@@1@4@@oe@2-2-2013
21328003@unknown@formal@none@1@S@But Manville's ownership is unusual, and it has caught the eye of some canny -- and patient -- investors.@@@@1@19@@oe@2-2-2013
21328004@unknown@formal@none@1@S@The Denver-based concern, which emerged from bankruptcy-law proceedings late last year, is controlled by the Manville Personal Injury Settlement Trust.@@@@1@20@@oe@2-2-2013
21328005@unknown@formal@none@1@S@The trust, which owns 80% of Manville's stock on a fully diluted basis, is a separate legal entity that is settling claims with asbestos victims.@@@@1@25@@oe@2-2-2013
21328006@unknown@formal@none@1@S@When and if the trust runs out of cash -- which seems increasingly likely -- it will need to convert its Manville stock to cash.@@@@1@25@@oe@2-2-2013
21328007@unknown@formal@none@1@S@But as an 80% owner, if it tried to sell much of its stock in the market, it would likely depress the price of its shares.@@@@1@26@@oe@2-2-2013
21328008@unknown@formal@none@1@S@Some investors say there is a good chance that the trust will, instead, seek to convert the company's shares to cash, in some sort of friendly restructuring that wouldn't involve just dumping stock on the market.@@@@1@36@@oe@2-2-2013
21328009@unknown@formal@none@1@S@"Their principal asset is Manville common stock," says Jeffrey Halis, who runs Sabre Associates, an investment fund that owns Manville shares.@@@@1@21@@oe@2-2-2013
21328010@unknown@formal@none@1@S@"If they tried to sell, they'd be chasing their own tail.@@@@1@11@@oe@2-2-2013
21328011@unknown@formal@none@1@S@What makes the most sense is to find someone who wants to buy the whole company or cause a recapitalization of all shares."@@@@1@23@@oe@2-2-2013
21328012@unknown@formal@none@1@S@The trust isn't commenting on when it might need to liquefy its Manville stock.@@@@1@14@@oe@2-2-2013
21328013@unknown@formal@none@1@S@However, the trust's cash flow from investments is far short of its payments to asbestos victims.@@@@1@16@@oe@2-2-2013
21328014@unknown@formal@none@1@S@Its cash and liquid securities fell by $338 million in the first six months of 1989.@@@@1@16@@oe@2-2-2013
21328015@unknown@formal@none@1@S@The trust also will receive $75 million a year starting in 1991 on a bond it holds from Manville.@@@@1@19@@oe@2-2-2013
21328016@unknown@formal@none@1@S@And, beginning in 1992, it will have a claim on as much as 20% of Manville's annual net income.@@@@1@19@@oe@2-2-2013
21328017@unknown@formal@none@1@S@Even so, the trust would seem to be facing a cash crunch.@@@@1@12@@oe@2-2-2013
21328018@unknown@formal@none@1@S@As of June 30, it had settled only about 15,000 of the 81,000 received claims from asbestos victims, for an average of $40,424 each.@@@@1@24@@oe@2-2-2013
21328019@unknown@formal@none@1@S@(The average should drop over time, since the most expensive claims are being settled first).@@@@1@15@@oe@2-2-2013
21328020@unknown@formal@none@1@S@And as of midyear, settled but unpaid claims amounted to $136 million -- more than half the trust's total of $268 million in cash and marketable securities.@@@@1@27@@oe@2-2-2013
21328021@unknown@formal@none@1@S@"At some point, we're going to need an infusion of funds," a person close to the trust says.@@@@1@18@@oe@2-2-2013
21328022@unknown@formal@none@1@S@Even before then, the trust may be eager to unload Manville stock.@@@@1@12@@oe@2-2-2013
21328023@unknown@formal@none@1@S@It doesn't pay a dividend, and this trust needs income.@@@@1@10@@oe@2-2-2013
21328024@unknown@formal@none@1@S@Moreover, with 88% of its assets tied up in Manville, the trust is badly in need of diversification.@@@@1@18@@oe@2-2-2013
21328025@unknown@formal@none@1@S@"Obviously, a diversified portfolio would have less risk," the person close to the trust says.@@@@1@15@@oe@2-2-2013
21328026@unknown@formal@none@1@S@Manville itself doesn't rule out a restructuring.@@@@1@7@@oe@2-2-2013
21328027@unknown@formal@none@1@S@Though the ink is barely dry on its new, post-bankruptcy law structure, Bill Bullock, Manville's head of investor relations, says the company is continually pondering "whether there is a better way to be structured.@@@@1@34@@oe@2-2-2013
21328028@unknown@formal@none@1@S@We understand that the trust is ultimately going to need to sell some of our shares," he says.@@@@1@18@@oe@2-2-2013
21328029@unknown@formal@none@1@S@Of course, one option would be for Manville to buy out the trust's shares -- which would do little to benefit public stockholders.@@@@1@23@@oe@2-2-2013
21328030@unknown@formal@none@1@S@But the trust, in most cases, is forbidden from seeking a buyer for only its shares before November 1993.@@@@1@19@@oe@2-2-2013
21328031@unknown@formal@none@1@S@And both the trust and Manville are seeking to avoid the bad publicity that, in the asbestos era, tarred the Manville name.@@@@1@22@@oe@2-2-2013
21328032@unknown@formal@none@1@S@Thus, analysts say, the trust is unlikely to do anything that would hurt Manville's other shareholders.@@@@1@16@@oe@2-2-2013
21328033@unknown@formal@none@1@S@"This is a rare case of a company with a big majority holder which will probably act in the interests of the minority holders," one investor says.@@@@1@27@@oe@2-2-2013
21328034@unknown@formal@none@1@S@Even if there is no restructuring, Manville seems to be attractive long-term.@@@@1@12@@oe@2-2-2013
21328035@unknown@formal@none@1@S@Its stock, at 9 5/8, trades at about 8 1/2 times estimated 1989 earnings -- an appropriately low multiple for a company with recession-sensitive customers.@@@@1@25@@oe@2-2-2013
21328036@unknown@formal@none@1@S@Mr. Bullock says 45% of revenues are tied to construction.@@@@1@10@@oe@2-2-2013
21328037@unknown@formal@none@1@S@Analysts predict little or no near-term growth.@@@@1@7@@oe@2-2-2013
21328038@unknown@formal@none@1@S@They are, nonetheless, high on Manville's management.@@@@1@7@@oe@2-2-2013
21328039@unknown@formal@none@1@S@"It's one of the best in the business," says Salomon Brothers analyst Stephen Dobi.@@@@1@14@@oe@2-2-2013
21328040@unknown@formal@none@1@S@And he says Manville has the financial flexibility to buy other companies at the best possible momentwhen other construction-related firms are hurting and selling cheap.@@@@1@25@@oe@2-2-2013
21328041@unknown@formal@none@1@S@With a conservative debt-to-equity ratio of 1-to-1 -- and $329 million in cash -- Manville is indeed actively on the prowl.@@@@1@21@@oe@2-2-2013
21328042@unknown@formal@none@1@S@So far, as a price-conscious shopper, Manville hasn't bought much.@@@@1@10@@oe@2-2-2013
21328043@unknown@formal@none@1@S@Paul Kleinaitis, an analyst at Duff & Phelps, says, "Even though they have borrowing power, they have been disciplined about acquisitions."@@@@1@21@@oe@2-2-2013
21328044@unknown@formal@none@1@S@And Mr. Kleinaitis says that with 80% of its stock in friendly hands, Manville is the rare publicly traded company that can ignore short-term stock fluctuations and plan for the long haul.@@@@1@32@@oe@2-2-2013
21328045@unknown@formal@none@1@S@Manville (NYSE; Symbol: MVL)@@@@1@4@@oe@2-2-2013
21328046@unknown@formal@none@1@S@Business: Forest products and roofing@@@@1@5@@oe@2-2-2013
21328047@unknown@formal@none@1@S@Year ended Dec. 31, 1988: Sales: $2.06 billions Net loss: $1.30 billion*@@@@1@12@@oe@2-2-2013
21328048@unknown@formal@none@1@S@Third quarter, Sept. 30, 1989: Per-share earnings: 30 cents vs. 44 cents**@@@@1@12@@oe@2-2-2013
21328049@unknown@formal@none@1@S@Average daily trading volume: 74,351 shares@@@@1@6@@oe@2-2-2013
21328050@unknown@formal@none@1@S@Common shares outstanding: 120 million@@@@1@5@@oe@2-2-2013
21328051@unknown@formal@none@1@S@*Includes $1.29 billion extraordinary charge.@@@@1@5@@oe@2-2-2013
21328052@unknown@formal@none@1@S@**Year ago figure is restated.@@@@1@5@@oe@2-2-2013
21329001@unknown@formal@none@1@S@Emerson Electric Co. and Robert Bosch G.m.b.H. said the Federal Trade Commission has requested additional information from the two companies about their announced intention to acquire Vermont American Corp. for $40 a share, or about $440 million.@@@@1@37@@oe@2-2-2013
21329002@unknown@formal@none@1@S@Yesterday, in composite trading on the American Stock Exchange, Vermont American common closed at $39.75, off 25 cents.@@@@1@18@@oe@2-2-2013
21329003@unknown@formal@none@1@S@The FTC's request was "not unusual" and Emerson will make a "full and prompt" response, according to a spokesman.@@@@1@19@@oe@2-2-2013
21329004@unknown@formal@none@1@S@Spokesmen for Emerson and Vermont American, which has agreed to be acquired, said they don't anticipate "any problems" with the completion of the transaction.@@@@1@24@@oe@2-2-2013
21329005@unknown@formal@none@1@S@An FTC spokesman said the matter is "in a non-public posture at this time" and declined to comment further.@@@@1@19@@oe@2-2-2013
21329006@unknown@formal@none@1@S@Emerson and Bosch, through their joint acquisition arm, Maple Acquisition, have begun a cash tender offer for all of Vermont's common shares outstanding.@@@@1@23@@oe@2-2-2013
21329007@unknown@formal@none@1@S@The offer, set to expire Nov. 1, may be extended pending the timing and resolution of the FTC request, the companies said.@@@@1@22@@oe@2-2-2013
21329008@unknown@formal@none@1@S@St. Louis-based Emerson and Stuttgart-based Bosch make electrical and electronic products, including power tools.@@@@1@14@@oe@2-2-2013
21329009@unknown@formal@none@1@S@The Vermont American acquisition is designed to enhance their position in the accessories portion of the power-tool industry.@@@@1@18@@oe@2-2-2013
21330001@unknown@formal@none@1@S@Santa Fe Pacific Corp. is preparing a plan to sell a 20% stake in its large real estate unit to a California public employee pension fund for $400 million, after which it would spin off the realty operation to shareholders.@@@@1@40@@oe@2-2-2013
21330002@unknown@formal@none@1@S@The plan places an indicated value on the real estate operation, Santa Fe Pacific Realty Corp., of $2 billion.@@@@1@19@@oe@2-2-2013
21330003@unknown@formal@none@1@S@Santa Fe Pacific directors are expected to review the plan at a meeting today, according to people familiar with the transaction.@@@@1@21@@oe@2-2-2013
21330004@unknown@formal@none@1@S@If approved, the sale is expected to close by year's end, with the spinoff occurring by the end of 1992.@@@@1@20@@oe@2-2-2013
21330005@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange yesterday, Santa Fe Pacific closed at $20.625, down 25 cents.@@@@1@19@@oe@2-2-2013
21330006@unknown@formal@none@1@S@Santa Fe Pacific Realty is a major California land and building owner whose prime properties include 1,850 undeveloped acres in the San Francisco Bay area, and several office sites.@@@@1@29@@oe@2-2-2013
21330007@unknown@formal@none@1@S@A spokesman said the properties survived without significant damage in last week's Northern California earthquake.@@@@1@15@@oe@2-2-2013
21330008@unknown@formal@none@1@S@As a result of the partial sale and spinoff, the $56 billion California Public Employees Retirement System would obtain two seats on the board of the real estate operation, according to officials of the fund, who described the plan.@@@@1@39@@oe@2-2-2013
21330009@unknown@formal@none@1@S@A spokesman for Chicago-based Santa Fe Pacific confirmed that negotiations were being held with the fund.@@@@1@16@@oe@2-2-2013
21330010@unknown@formal@none@1@S@Also holding two seats each on the board, they said, would be Olympia & York Developments Ltd., controlled by the Reichmann family of Canada, and Itel Corp., controlled by Chicago businessman Sam Zell.@@@@1@33@@oe@2-2-2013
21330011@unknown@formal@none@1@S@The Reichmanns and Mr. Zell, the largest holders of Santa Fe Pacific stock, have been looking for ways to raise the value of their investments, including possible spinoffs.@@@@1@28@@oe@2-2-2013
21330012@unknown@formal@none@1@S@Itel bought a 17% stake in Sante Fe Pacific last year and Olympia & York later purchased about a 20% stake; they would have interests in the new realty company in line with their holdings in Sante Fe Pacific.@@@@1@39@@oe@2-2-2013
21330013@unknown@formal@none@1@S@The sale and spinoff of the real estate unit is the first phase of what could lead to the breakup of Santa Fe Pacific into free-standing companies for its railroad and energy operations, as well as real estate.@@@@1@38@@oe@2-2-2013
21330014@unknown@formal@none@1@S@The debt-laden parent has been under pressure from large shareholders to boost the company's share price.@@@@1@16@@oe@2-2-2013
21330015@unknown@formal@none@1@S@At the same time it has been caught in an earnings squeeze.@@@@1@12@@oe@2-2-2013
21330016@unknown@formal@none@1@S@The California pension fund's planned investment in the real estate unit is unusual.@@@@1@13@@oe@2-2-2013
21330017@unknown@formal@none@1@S@Pension funds rarely own as much as a 20% stake in what is expected to be a publicly traded company.@@@@1@20@@oe@2-2-2013
21330018@unknown@formal@none@1@S@In addition, pension funds are rarely given seats on company boards and most often try to avoid them because of legal concerns.@@@@1@22@@oe@2-2-2013
21330019@unknown@formal@none@1@S@But fund officials said the Santa Fe Pacific Realty investment provides an opportunity to buy a stake in a large real estate portfolio heavily weighted with California properties.@@@@1@28@@oe@2-2-2013
21330020@unknown@formal@none@1@S@It also marks a "major commitment to {real estate} development, which we haven't been involved with before," said Dale Hanson, the fund's executive director.@@@@1@24@@oe@2-2-2013
21330021@unknown@formal@none@1@S@Under the proposed plan, the fund would also lend Santa Fe Pacific Realty $75 million in the form of a note that would be convertible into additional shares of the realty company after the second year at the then-prevailing market price.@@@@1@41@@oe@2-2-2013
21330022@unknown@formal@none@1@S@The note would accrue interest at the rate of 13.5% a year, which would be payable to the fund after five years, according to Stephen E. Roulac, a real estate consultant working for the fund.@@@@1@35@@oe@2-2-2013
21330023@unknown@formal@none@1@S@The purpose of the note is to provide added capital for the spun-off company in a form that will save it spending cash on immediate interest payments, Mr. Roulac said.@@@@1@30@@oe@2-2-2013
21330024@unknown@formal@none@1@S@The spun-off concern "clearly will be one of the dominant real estate development companies with a prime portfolio," he said.@@@@1@20@@oe@2-2-2013
21330025@unknown@formal@none@1@S@For the last year, Santa Fe Pacific has redirected its real estate operations toward longer-term development of its properties, hurting profits that the parent had generated in the past from periodic sales from its portfolio.@@@@1@35@@oe@2-2-2013
21330026@unknown@formal@none@1@S@Real estate operating income for the first nine months fell to $71.9 million from $143 million a year earlier, the company said.@@@@1@22@@oe@2-2-2013
21330027@unknown@formal@none@1@S@In a statement late yesterday, Santa Fe Pacific's chairman, Robert D. Krebs, said that Santa Fe Pacific Realty would repay more than $500 million in debt owed to the parent before the planned spinoff.@@@@1@34@@oe@2-2-2013
21330028@unknown@formal@none@1@S@That would help reduce Santa Fe Pacific's remaining debt to about $600 million from a high of $3.7 billion in early 1988.@@@@1@22@@oe@2-2-2013
21330029@unknown@formal@none@1@S@It wasn't clear where Santa Fe Pacific expected to obtain the payment of more than $500 million, which would be well above the $400 million that California pension fund officials say they plan to provide.@@@@1@35@@oe@2-2-2013
21330030@unknown@formal@none@1@S@The realty unit might take on new debt or obtain additional investors, among other possibilities.@@@@1@15@@oe@2-2-2013
21330031@unknown@formal@none@1@S@The Santa Fe Pacific spokesman declined to comment on that aspect, saying the deal was still under negotiation.@@@@1@18@@oe@2-2-2013
21330032@unknown@formal@none@1@S@Santa Fe Pacific Realty owns 2.8 million acres of property, including 219 buildings with more than 11 million square feet of space.@@@@1@22@@oe@2-2-2013
21330033@unknown@formal@none@1@S@It also holds nearly 40,000 acres of raw land with development potential, but under a previously announced strategy, the company has targeted building on 5,400 acres in California, Arizona and the Chicago area.@@@@1@33@@oe@2-2-2013
21330034@unknown@formal@none@1@S@Among those are the 1,850 acres in the San Francisco Bay area, including 208 acres in the Mission Bay area.@@@@1@20@@oe@2-2-2013
21330035@unknown@formal@none@1@S@The California pension fund, which has $16 billion already invested in real estate and mortgages, could be a valuable funding source for that development, although it isn't obliged to make further investments.@@@@1@32@@oe@2-2-2013
21330036@unknown@formal@none@1@S@The fund is the nation's largest public employee fund, and it has a growing cash flow now topping $3 billion a year.@@@@1@22@@oe@2-2-2013
21330037@unknown@formal@none@1@S@Fund officials negotiated the final structure of the proposed deal with Santa Fe Pacific, but they were approached with the idea by real estate brokers JMB Realty Corp. of Chicago.@@@@1@30@@oe@2-2-2013
21330038@unknown@formal@none@1@S@JMB officials are expected to be hired to represent the pension fund on the Santa Fe Pacific Realty board, Mr. Roulac said, to insulate the fund from potential liability problems.@@@@1@30@@oe@2-2-2013
21331001@unknown@formal@none@1@S@GAF, Part III is scheduled to begin today.@@@@1@8@@oe@2-2-2013
21331002@unknown@formal@none@1@S@After two mistrials, the stakes in the stock manipulation trial of GAF Corp. and its vice chairman, James T. Sherwin, have changed considerably.@@@@1@23@@oe@2-2-2013
21331003@unknown@formal@none@1@S@The first two GAF trials were watched closely on Wall Street because they were considered to be important tests of the government's ability to convince a jury of allegations stemming from its insider-trading investigations.@@@@1@34@@oe@2-2-2013
21331004@unknown@formal@none@1@S@In an eight-count indictment, the government charged GAF, a Wayne, N.J., chemical maker, and Mr. Sherwin with illegally attempting to manipulate the common stock of Union Carbide Corp. in advance of GAF's planned sale of a large block of the stock in 1986.@@@@1@43@@oe@2-2-2013
21331005@unknown@formal@none@1@S@The government's credibility in the GAF case depended heavily on its star witness, Boyd L. Jefferies, the former Los Angeles brokerage chief who was implicated by former arbitrager Ivan Boesky, and then pointed the finger at Mr. Sherwin, takeover speculator Salim B. Lewis and corporate raider Paul Bilzerian.@@@@1@48@@oe@2-2-2013
21331006@unknown@formal@none@1@S@The GAF trials were viewed as previews of the government's strength in its cases against Mr. Lewis and Mr. Bilzerian.@@@@1@20@@oe@2-2-2013
21331007@unknown@formal@none@1@S@Mr. Jefferies's performance as a witness was expected to affect his sentencing.@@@@1@12@@oe@2-2-2013
21331008@unknown@formal@none@1@S@But GAF's bellwether role was short-lived.@@@@1@6@@oe@2-2-2013
21331009@unknown@formal@none@1@S@The first GAF trial ended in a mistrial after four weeks when U.S. District Judge Mary Johnson Lowe found that a prosecutor improperly, but unintentionally, withheld a document.@@@@1@28@@oe@2-2-2013
21331010@unknown@formal@none@1@S@After 93 hours of deliberation, the jurors in the second trial said they were hopelessly deadlocked, and another mistrial was declared on March 22.@@@@1@24@@oe@2-2-2013
21331011@unknown@formal@none@1@S@Meanwhile, a federal jury found Mr. Bilzerian guilty on securities fraud and other charges in June.@@@@1@16@@oe@2-2-2013
21331012@unknown@formal@none@1@S@A month later, Mr. Jefferies was spared a jail term by a federal judge who praised him for helping the government.@@@@1@21@@oe@2-2-2013
21331013@unknown@formal@none@1@S@In August, Mr. Lewis pleaded guilty to three felony counts.@@@@1@10@@oe@2-2-2013
21331014@unknown@formal@none@1@S@Nevertheless, the stakes are still high for the players directly involved in the GAF case.@@@@1@15@@oe@2-2-2013
21331015@unknown@formal@none@1@S@The mistrials have left the reputations of GAF, Mr. Sherwin and GAF Chairman Samuel Heyman in limbo.@@@@1@17@@oe@2-2-2013
21331016@unknown@formal@none@1@S@For Mr. Sherwin, a conviction could carry penalties of five years in prison and a $250,000 fine on each count.@@@@1@20@@oe@2-2-2013
21331017@unknown@formal@none@1@S@GAF faces potential fines of $500,000 for each count.@@@@1@9@@oe@2-2-2013
21331018@unknown@formal@none@1@S@Individuals familiar with the case said that throughout September, defense attorneys were talking with the government in an effort to prevent a trial, but by the end of the month the talks had ended.@@@@1@34@@oe@2-2-2013
21331019@unknown@formal@none@1@S@There is much speculation among attorneys not involved that the strategy of GAF's attorney, Arthur Liman, and Mr. Sherwin's counsel, Stephen Kaufman, will include testimony by Mr. Sherwin or Mr. Heyman.@@@@1@31@@oe@2-2-2013
21331020@unknown@formal@none@1@S@Neither testified at the previous trials.@@@@1@6@@oe@2-2-2013
21331021@unknown@formal@none@1@S@For now, defense attorneys are tight-lipped about their plans.@@@@1@9@@oe@2-2-2013
21331022@unknown@formal@none@1@S@Max Gitter, another GAF defense attorney, said yesterday, "As we go in for the third time, Yogi Berra's famous line is apt: `It's deja vu all over again.'"@@@@1@28@@oe@2-2-2013
21331023@unknown@formal@none@1@S@DALKON SHIELD CLAIMANTS hope to stop reorganization-plan appeal.@@@@1@8@@oe@2-2-2013
21331024@unknown@formal@none@1@S@Attorneys for more than 18,000 women who claim injuries from the Dalkon Shield contraceptive device have asked the U.S. Supreme Court to refuse to hear an appeal of the bankruptcy-law reorganization plan for A.H. Robins Co., which manufactured the device.@@@@1@40@@oe@2-2-2013
21331025@unknown@formal@none@1@S@The dispute pits two groups of claimants against each other.@@@@1@10@@oe@2-2-2013
21331026@unknown@formal@none@1@S@Baltimore attorney Michael A. Pretl and 17 other attorneys representing 18,136 claimants in the U.S. and abroad argue that the appeal would delay -- and perhaps even destroy -- a $2.38 billion settlement fund that is the centerpiece of the reorganization plan.@@@@1@42@@oe@2-2-2013
21331027@unknown@formal@none@1@S@The bankruptcy-court reorganization is being challenged before the Supreme Court by a dissident group of claimants because it places a cap on the total amount of money available to settle claims.@@@@1@31@@oe@2-2-2013
21331028@unknown@formal@none@1@S@It also bars future suits against Robins company officials, members of the Robins family and Robins's former insurer, Aetna Life & Casualty Co.@@@@1@23@@oe@2-2-2013
21331029@unknown@formal@none@1@S@The latter provision is "legally unprecedented," said Alan B. Morrison, a public interest lawyer in Washington, D.C., who is challenging the plan on behalf of 900 claimants.@@@@1@27@@oe@2-2-2013
21331030@unknown@formal@none@1@S@More than 100,000 claims against Robins are pending.@@@@1@8@@oe@2-2-2013
21331031@unknown@formal@none@1@S@The company made and marketed the Dalkon Shield in the early 1970s amid mounting evidence that it could cause serious injuries.@@@@1@21@@oe@2-2-2013
21331032@unknown@formal@none@1@S@Robins has been in proceedings under Chapter 11 of the U.S. Bankruptcy Code since August 1985; such proceedings give it protection from creditor lawsuits while it works out a plan for paying its debts.@@@@1@34@@oe@2-2-2013
21331033@unknown@formal@none@1@S@American Home Products Corp. wants to acquire Robins, but only if all legal challenges to the plan are exhausted.@@@@1@19@@oe@2-2-2013
21331034@unknown@formal@none@1@S@In a brief filed with the Supreme Court last week, Mr. Pretl criticizes the appeal for raising "abstract" and "theoretical" legal issues, while jeopardizing the proposed reorganization and the settlement payments to claimants.@@@@1@33@@oe@2-2-2013
21331035@unknown@formal@none@1@S@The Supreme Court is scheduled to consider the case Nov. 3 and may issue a decision as early as Nov. 6.@@@@1@21@@oe@2-2-2013
21331036@unknown@formal@none@1@S@JURY'S CRIMINAL CONVICTION under Superfund law is a first.@@@@1@9@@oe@2-2-2013
21331037@unknown@formal@none@1@S@Charles A. Donohoo, sole proprieter of a Louisville, Ky., demolition company, was found guilty of violating the Superfund law as well as the Clean Air Act.@@@@1@26@@oe@2-2-2013
21331038@unknown@formal@none@1@S@Criminal convictions under the federal Superfund law are rare, and the decision is the first jury verdict in such a case.@@@@1@21@@oe@2-2-2013
21331039@unknown@formal@none@1@S@Under Superfund, those who owned, generated or transported hazardous waste are liable for its cleanup, regardless of whether their actions were legal at the time.@@@@1@25@@oe@2-2-2013
21331040@unknown@formal@none@1@S@Environmental lawyers say virtually all of the Superfund cases to date have involved civil penalties designed to insure cleanup of past polluting activities.@@@@1@23@@oe@2-2-2013
21331041@unknown@formal@none@1@S@But Superfund also contains a criminal provision concerning the release of toxic substances into the environment.@@@@1@16@@oe@2-2-2013
21331042@unknown@formal@none@1@S@In 1986 Congress strengthened the penalty by making it a felony.@@@@1@11@@oe@2-2-2013
21331043@unknown@formal@none@1@S@Mr. Donohoo was convicted in Louisville late last month of violating Superfund by failing to report the release of asbestos into the environment from a building he was demolishing.@@@@1@29@@oe@2-2-2013
21331044@unknown@formal@none@1@S@He was also convicted of failing to properly remove asbestos from the building, a violation of the Clean Air Act.@@@@1@20@@oe@2-2-2013
21331045@unknown@formal@none@1@S@The government sought a criminal penalty because "no cleanup is possible here.@@@@1@12@@oe@2-2-2013
21331046@unknown@formal@none@1@S@Once {asbestos} is released into the environment, it can lodge anywhere," says Richard A. Dennis, the assistant U.S. attorney who prosecuted the case.@@@@1@23@@oe@2-2-2013
21331047@unknown@formal@none@1@S@Mr. Donohoo is scheduled to be sentenced Dec. 11.@@@@1@9@@oe@2-2-2013
21331048@unknown@formal@none@1@S@His lawyer could not be reached for comment.@@@@1@8@@oe@2-2-2013
21331049@unknown@formal@none@1@S@Mr. Donohoo faces as much as three years in prison and a $250,000 fine for the Superfund conviction and as much as one year in prison and a $100,000 fine for the violation of the Clean Air Act.@@@@1@38@@oe@2-2-2013
21331050@unknown@formal@none@1@S@TED BUNDY'S LAWYERS switch to victims' side in death-sentence case.@@@@1@10@@oe@2-2-2013
21331051@unknown@formal@none@1@S@Wilmer, Cutler & Pickering, the Washington, D.C., law firm that spent over $1 million fighting the execution of mass-murderer Ted Bundy -- who eventually was executed -- has taken on another death penalty case before the Supreme Court, this time on the side of the family of four murder victims in Arkansas.@@@@1@52@@oe@2-2-2013
21331052@unknown@formal@none@1@S@The law firm has filed a friend-of-the-court brief jointly with the Washington Legal Foundation, a conservative legal group.@@@@1@18@@oe@2-2-2013
21331053@unknown@formal@none@1@S@The key issue in the case, which the law firm is handling without a fee, or pro bono, is whether a person sentenced to death can voluntarily waive his rights of appellate review.@@@@1@33@@oe@2-2-2013
21331054@unknown@formal@none@1@S@The murderer, Ronald Gene Simmons, was convicted of killing 14 people.@@@@1@11@@oe@2-2-2013
21331055@unknown@formal@none@1@S@Another murderer on death row has appealed Mr. Simmons's death sentence in a "next friend" capacity.@@@@1@16@@oe@2-2-2013
21331056@unknown@formal@none@1@S@Wilmer Cutler's brief argues that there is no mandatory appellate review of capital sentences and that the inmate who filed the appeal lacks proper standing.@@@@1@25@@oe@2-2-2013
21331057@unknown@formal@none@1@S@P.J. Mode, Wilmer Cutler's managing partner, says the trial team that represented Mr. Bundy was asked by the firm's pro bono committee whether the new case posed a conflict and that no objections were raised.@@@@1@35@@oe@2-2-2013
21331058@unknown@formal@none@1@S@The coupling of the law firm and the Washington Legal Foundation is odd also, because Wilmer Cutler was one of the firms singled out for criticism two years ago by the conservative legal group for displaying a liberal bias in its pro bono work.@@@@1@44@@oe@2-2-2013
21331059@unknown@formal@none@1@S@"We give them a lot of credit for taking this case," says WLF's Alan Slobodin.@@@@1@15@@oe@2-2-2013
21331060@unknown@formal@none@1@S@THE CASE OF THE FAKE DALIS:@@@@1@6@@oe@2-2-2013
21331061@unknown@formal@none@1@S@In federal court in Manhattan, three defendants pleaded guilty to charges of fraud in connection with the sale of fake Salvador Dali lithographs.@@@@1@23@@oe@2-2-2013
21331062@unknown@formal@none@1@S@James Burke and Larry Evans, formerly owners of the now-defunct Barclay Gallery, and Prudence Clark, a Barclay sales representative, were charged with conducting high-pressure telephone sales in which they misrepresented cheap copies of Dali artwork as signed, limited-edition lithographs.@@@@1@39@@oe@2-2-2013
21331063@unknown@formal@none@1@S@The posters were sold for $1,300 to $6,000, although the government says they had a value of only $53 to $200 apiece.@@@@1@22@@oe@2-2-2013
21331064@unknown@formal@none@1@S@Henry Pitman, the assistant U.S. attorney handling the case, said about 1,000 customers were defrauded and that Barclay's total proceeds from the sales were $3.4 million.@@@@1@26@@oe@2-2-2013
21331065@unknown@formal@none@1@S@Attorneys for Messrs. Burke and Evans and Ms. Clarke said that although their clients admitted to making some misrepresentations in the sales, they had believed that the works were authorized by Mr. Dali, who died in January.@@@@1@37@@oe@2-2-2013
21331066@unknown@formal@none@1@S@The posters were printed on paper pre-signed by Mr. Dali, the attorneys said.@@@@1@13@@oe@2-2-2013
21332001@unknown@formal@none@1@S@Westamerica Bancorp. said Richard W. Decker resigned as president and chief executive officer after only a year on the job because of "differences" with the board.@@@@1@26@@oe@2-2-2013
21332002@unknown@formal@none@1@S@The banking company couldn't be reached to comment beyond a written announcement.@@@@1@12@@oe@2-2-2013
21332003@unknown@formal@none@1@S@It didn't specify the nature of the differences, saying only that they related to "management style" and "strategic objectives."@@@@1@19@@oe@2-2-2013
21332004@unknown@formal@none@1@S@Westamerica said Mr. Decker's posts were assumed by David Payne, Westamerica's chairman, who at 34 years of age becomes one of the youngest chief executives of a sizable bank in the country.@@@@1@32@@oe@2-2-2013
21332005@unknown@formal@none@1@S@Mr. Decker is about 45 years old.@@@@1@7@@oe@2-2-2013
21332006@unknown@formal@none@1@S@Neither Mr. Payne nor Mr. Decker could be reached to comment.@@@@1@11@@oe@2-2-2013
21332007@unknown@formal@none@1@S@Westamerica has about $1.3 billion of assets and is the largest independent bank in northern California.@@@@1@16@@oe@2-2-2013
21332008@unknown@formal@none@1@S@It controls about 35% of the affluent Marin County market across the Golden Gate bridge from San Francisco.@@@@1@18@@oe@2-2-2013
21332009@unknown@formal@none@1@S@Mr. Decker's resignation surprised many industry officials.@@@@1@7@@oe@2-2-2013
21332010@unknown@formal@none@1@S@He was brought to the company in September 1988 after 15 years at Los Angeles-based First Interstate Bancorp.@@@@1@18@@oe@2-2-2013
21332011@unknown@formal@none@1@S@The bank had been suffering in late 1987 from a slew of bad real estate loans made in Arizona.@@@@1@19@@oe@2-2-2013
21332012@unknown@formal@none@1@S@When he was hired, Mr. Payne lauded Mr. Decker's "extraordinary . . . skills" and his "outstanding reputation as one of the West's brightest bankers."@@@@1@25@@oe@2-2-2013
21332013@unknown@formal@none@1@S@Though the bank isn't performing as well as some of its competitors in the lucrative California market, its condition has improved since Mr. Decker took over.@@@@1@26@@oe@2-2-2013
21332014@unknown@formal@none@1@S@For the six months ended June 30, it earned $3.1 million, or 61 cents a share, compared with net income of $2.4 million, or 41 cents a share, a year earlier.@@@@1@31@@oe@2-2-2013
21332015@unknown@formal@none@1@S@Its stock also has risen lately, at least partly because it is considered a possible takeover candidate.@@@@1@17@@oe@2-2-2013
21332016@unknown@formal@none@1@S@Interstate banking is scheduled to begin in California in 1991, and larger California banks, such as Wells Fargo & Co., have been paying fat premiums to buy smaller banks to control markets before any out-of-state banks enter the fray.@@@@1@39@@oe@2-2-2013
21332017@unknown@formal@none@1@S@In American Stock Exchange composite trading yesterday, Westamerica closed at $22.25 a share, down 75 cents.@@@@1@16@@oe@2-2-2013
21333001@unknown@formal@none@1@S@Varian Associates Inc., Palo Alto, Calif., reported fiscal fourth-quarter profit plunged more than 95% to $1 million, or five cents a share, from $24.2 million, or $1.10 a share, in the year-earlier quarter.@@@@1@33@@oe@2-2-2013
21333002@unknown@formal@none@1@S@The diversified electronics company blamed the decline in the quarter ended Sept. 29, on previously reported operating problems in its Electron Devices & Systems Group.@@@@1@25@@oe@2-2-2013
21333003@unknown@formal@none@1@S@For the full fiscal year, Varian posted a 13% profit rise to $31.5 million, or $1.53 a share, up from $27.8 million, or $1.27 a share, last year.@@@@1@28@@oe@2-2-2013
21333004@unknown@formal@none@1@S@Sales for the year rose almost 15% to $1.34 billion from $1.17 billion last year.@@@@1@15@@oe@2-2-2013
21333005@unknown@formal@none@1@S@A profit last year in both the quarter and year included a net gain of $9.6 million, or 44 cents a share, from the sale of a division.@@@@1@28@@oe@2-2-2013
21333006@unknown@formal@none@1@S@Additionally, the full-year profit last year reflected an after-tax restructuring charge of $22.8 million, or $1.04 a share.@@@@1@18@@oe@2-2-2013
21333007@unknown@formal@none@1@S@Shares of Varian, which last month warned there would be a fourth-quarter plunge, closed at $22.75, down 62.5 cents in composite trading on the New York Stock Exchange.@@@@1@28@@oe@2-2-2013
21333008@unknown@formal@none@1@S@Sales rose 18% in the fiscal fourth quarter to $364.1 million from $307.9 million on the strength in semiconductors and other products.@@@@1@22@@oe@2-2-2013
21334001@unknown@formal@none@1@S@In a last-ditch effort to keep its sales force and customer base, Integrated Resources Inc. said it agreed in principle to transfer ownership of its broker-dealer subsidiary to two of its top executives.@@@@1@33@@oe@2-2-2013
21334002@unknown@formal@none@1@S@The financial-services firm, struggling since summer to avoid a bankruptcy-law filing after missing interest payments on about $1 billion of debt, will retain the right to regain the subsidiary.@@@@1@29@@oe@2-2-2013
21334003@unknown@formal@none@1@S@It said it will exercise that right only if it sells substantially all of its other core businesses.@@@@1@18@@oe@2-2-2013
21334004@unknown@formal@none@1@S@It also can sell the right to regain the subsidiary to another party.@@@@1@13@@oe@2-2-2013
21334005@unknown@formal@none@1@S@Also, the broker-dealer subsidiary, Integrated Resources Equity Corp., was renamed Royal Alliance Associates Inc.@@@@1@14@@oe@2-2-2013
21334006@unknown@formal@none@1@S@Because of Integrated's widely reported troubles, the unit's representatives had been requesting a name change.@@@@1@15@@oe@2-2-2013
21334007@unknown@formal@none@1@S@Royal Alliance, to which the 3,900 representatives' licenses will be transferred, is a shell company Integrated owns.@@@@1@17@@oe@2-2-2013
21334008@unknown@formal@none@1@S@In the transaction, Integrated will transfer 100% ownership of the subsidiary to Gerard M. Lavin, executive vice president of Integrated and head of back-office operations at the subsidiary, and Gary W. Krat, executive vice president of the parent and president of the subsidiary.@@@@1@43@@oe@2-2-2013
21334009@unknown@formal@none@1@S@Integrated will pump $3.5 million to $4 million into Royal Alliance as initial funding.@@@@1@14@@oe@2-2-2013
21334010@unknown@formal@none@1@S@In an interview, Mr. Krat said that based on criteria yet to be determined, he expects to distribute 49% of Royal Alliance to the representatives, who sell Integrated's insurance and mutual-fund products.@@@@1@32@@oe@2-2-2013
21334011@unknown@formal@none@1@S@If Integrated regains Royal Alliance, the representatives will retain their 49% ownership.@@@@1@12@@oe@2-2-2013
21334012@unknown@formal@none@1@S@Mr. Krat indicated that completion of the transaction could take several weeks, and it wasn't immediately clear what would happen to the broker-dealer subsidiary if Integrated files for bankruptcy-law protection in the meantime.@@@@1@33@@oe@2-2-2013
21334013@unknown@formal@none@1@S@The subsidiary isn't expected to be profitable for at least one year.@@@@1@12@@oe@2-2-2013
21334014@unknown@formal@none@1@S@If Integrated regains the unit, it would receive any profit the unit reports, even while the unit is independent.@@@@1@19@@oe@2-2-2013
21334015@unknown@formal@none@1@S@If the deal closes, the two officers will draw salaries from the independent operation, not from Integrated.@@@@1@17@@oe@2-2-2013
21334016@unknown@formal@none@1@S@Many aspects of the agreement were worked out Wednesday in Chicago, when Integrated senior managers met with about 150 representatives.@@@@1@20@@oe@2-2-2013
21334017@unknown@formal@none@1@S@"I think it was something that we and they thought was constructive," said Stephen D. Weinroth, chairman and co-chief executive officer of Integrated.@@@@1@23@@oe@2-2-2013
21334018@unknown@formal@none@1@S@Integrated made its announcement after the market closed.@@@@1@8@@oe@2-2-2013
21334019@unknown@formal@none@1@S@In New York Stock Exchange Composite trading, Integrated shares closed at $1.125, up 12.5 cents.@@@@1@15@@oe@2-2-2013
21335001@unknown@formal@none@1@S@The dollar weakened in indecisive trading as foreign-exchange dealers awaited fresh economic news that they hope will jolt the U.S. unit out of its narrow ranges.@@@@1@26@@oe@2-2-2013
21335002@unknown@formal@none@1@S@The Canadian dollar climbed to its highest level against the U.S. dollar since late August, prompting the Bank of Canada to sell the Canadian currency on the market.@@@@1@28@@oe@2-2-2013
21335003@unknown@formal@none@1@S@Traders say that after a week of nervously tracking every development on Wall Street, the foreign-exchange market has settled back to catch its breath ahead of new U.S. economic data.@@@@1@30@@oe@2-2-2013
21335004@unknown@formal@none@1@S@They noted, however, that a 26-point drop in the Dow Jones Industrial Average gave the dollar a sharp nudge downward late in the day.@@@@1@24@@oe@2-2-2013
21335005@unknown@formal@none@1@S@In late New York trading yesterday, the dollar was quoted at 1.8470 marks, down from 1.8578 marks late Friday, and at 141.90 yen, down from 142.43 yen late Friday.@@@@1@29@@oe@2-2-2013
21335006@unknown@formal@none@1@S@Sterling was quoted at $1.6030, up from $1.5885 late Friday.@@@@1@10@@oe@2-2-2013
21335007@unknown@formal@none@1@S@In Tokyo Tuesday, the U.S. currency opened for trading at 141.80 yen, down from Monday's Tokyo close of 142.40 yen.@@@@1@20@@oe@2-2-2013
21335008@unknown@formal@none@1@S@The market's attention is especially focused on a preliminary report on the U.S. third-quarter gross national product, due out Thursday, which could show the economy is continuing to expand at a relatively brisk pace.@@@@1@34@@oe@2-2-2013
21335009@unknown@formal@none@1@S@The consensus view on real GNP, the total value of the U.S. output of goods and services adjusted for inflation, calls for a 2.3% gain on an annual basis, slowing somewhat from the second quarter's 2.5%, but still fairly strong.@@@@1@40@@oe@2-2-2013
21335010@unknown@formal@none@1@S@Few market participants expect the U.S. unit to rally sharply on the news, if it turns out as expected.@@@@1@19@@oe@2-2-2013
21335011@unknown@formal@none@1@S@Many contend that the report may overstate the economy's health and predict the third-quarter figures may be the last vigorous statistics for some time to come.@@@@1@26@@oe@2-2-2013
21335012@unknown@formal@none@1@S@"Everyone is waiting for GNP," says Walter Simon, an assistant treasurer with Bank Julius Baer & Co.@@@@1@17@@oe@2-2-2013
21335013@unknown@formal@none@1@S@"Yet even a relatively strong number -- 2.8% to 2.9% -- won't alter the market's view that the economy is softening."@@@@1@21@@oe@2-2-2013
21335014@unknown@formal@none@1@S@Hubert Pedroli, managing director of foreign exchange at Credit Suisse in New York, adds, "The market sees this as the last piece of good news."@@@@1@25@@oe@2-2-2013
21335015@unknown@formal@none@1@S@Mr. Pedroli notes that the GNP deflator, a measure of inflation, is expected to slow, which would give the Federal Reserve more room to ease key U.S. rates.@@@@1@28@@oe@2-2-2013
21335016@unknown@formal@none@1@S@Analysts predict a 3.5% rise in the deflator, after climbing 4.6% in the second quarter.@@@@1@15@@oe@2-2-2013
21335017@unknown@formal@none@1@S@They note that when an unexpectedly sharp widening in the U.S. trade gap in August was reported earlier this month, hopes for a sustained narrowing of the trade deficit were dashed and sentiment gripped the market that the U.S. economy was losing its momentum.@@@@1@44@@oe@2-2-2013
21335018@unknown@formal@none@1@S@A 190-point plunge in U.S. stock shares compounded the view, they say.@@@@1@12@@oe@2-2-2013
21335019@unknown@formal@none@1@S@"Everyone is extremely convinced the economy is slowing," says one senior New York dealer.@@@@1@14@@oe@2-2-2013
21335020@unknown@formal@none@1@S@"If we're not headed for a recession, we're certainly headed for a major slowdown."@@@@1@14@@oe@2-2-2013
21335021@unknown@formal@none@1@S@While the market expects little reaction from news of U.S. durable goods orders, scheduled for release today, participants note that the figures will probably serve to reinforce this bearish sentiment.@@@@1@30@@oe@2-2-2013
21335022@unknown@formal@none@1@S@U.S. durable goods orders are expected to show a decline of 1.2% in September, according to economists.@@@@1@17@@oe@2-2-2013
21335023@unknown@formal@none@1@S@The anticipated drop follows a 3.9% rise in August.@@@@1@9@@oe@2-2-2013
21335024@unknown@formal@none@1@S@Traders, however, are quick to point out that while there is little enthusiasm for buying dollars, the U.S. unit has found a "natural bottom" at about 1.85 marks and 140 yen.@@@@1@31@@oe@2-2-2013
21335025@unknown@formal@none@1@S@Its resilience around these levels is pegged to persistent investor demand for the greenback, especially in Japan.@@@@1@17@@oe@2-2-2013
21335026@unknown@formal@none@1@S@On the Commodity Exchange in New York, gold for current delivery settled at $367 an ounce, down 30 cents.@@@@1@19@@oe@2-2-2013
21335027@unknown@formal@none@1@S@Estimated volume was a very light one million ounces.@@@@1@9@@oe@2-2-2013
21335028@unknown@formal@none@1@S@In early trading in Hong Kong Tuesday, gold was quoted at $366.79 an ounce.@@@@1@14@@oe@2-2-2013
21336001@unknown@formal@none@1@S@Liz Claiborne Inc., New York, said its third-quarter net income jumped 62%, citing continued strength in apparel sales and the start of shipments of its new product lines: a men's fragrance, large-size women's apparel and casual knitwear.@@@@1@37@@oe@2-2-2013
21336002@unknown@formal@none@1@S@The big apparel maker and retailer said that its net income in the latest quarter increased to $51.1 million, or 58 cents a share, from $31.7 million, or 36 cents a share, a year earlier.@@@@1@35@@oe@2-2-2013
21336003@unknown@formal@none@1@S@Sales in the quarter gained 29% to $410.4 million from $317.7 million a year earlier.@@@@1@15@@oe@2-2-2013
21336004@unknown@formal@none@1@S@Claiborne shares closed yesterday at $25.125, up 50 cents, in national over-the-counter trading.@@@@1@13@@oe@2-2-2013
21336005@unknown@formal@none@1@S@Claiborne's directors also declared its regular cash dividend payment of five cents a share payable on Dec. 5 to shareholders of record at the close of business on Nov. 13.@@@@1@30@@oe@2-2-2013
21336006@unknown@formal@none@1@S@For the nine months, net income rose 48% to $124.2 million, or $1.41 a share, from $83.8 million, or 96 cents a share a year earlier.@@@@1@26@@oe@2-2-2013
21336007@unknown@formal@none@1@S@Sales gained 16% to $1.03 billion from $894 million.@@@@1@9@@oe@2-2-2013
21337001@unknown@formal@none@1@S@Tokyo stocks closed firmer Monday, with the Nikkei index making its fifth consecutive daily gain.@@@@1@15@@oe@2-2-2013
21337002@unknown@formal@none@1@S@Stocks also rose in London, while the Frankfurt market was mixed.@@@@1@11@@oe@2-2-2013
21337003@unknown@formal@none@1@S@In Tokyo, the Nikkei index added 99.14 to 35585.52.@@@@1@9@@oe@2-2-2013
21337004@unknown@formal@none@1@S@The index moved above 35670 at midmorning, nearly reaching the record of 35689.98 set Sept. 28.@@@@1@16@@oe@2-2-2013
21337005@unknown@formal@none@1@S@But the market lost part of the early gains on index-linked investment trust fund selling.@@@@1@15@@oe@2-2-2013
21337006@unknown@formal@none@1@S@In early trading in Tokyo Tuesday, the Nikkei index rose 1.08 points to 35586.60.@@@@1@14@@oe@2-2-2013
21337007@unknown@formal@none@1@S@On Monday, traders noted that some investors took profits against the backdrop of the Nikkei's fast-paced recovery following its plunge last Monday in reaction to the Oct. 13 drop in New York stock prices.@@@@1@34@@oe@2-2-2013
21337008@unknown@formal@none@1@S@But overall buying interest remained strong through Monday, with many observers saying they expect the Nikkei to continue with moderate gains this week.@@@@1@23@@oe@2-2-2013
21337009@unknown@formal@none@1@S@Turnover remained relatively small.@@@@1@4@@oe@2-2-2013
21337010@unknown@formal@none@1@S@Volume on the first section was estimated at 600 million shares, down from 1.03 billion shares Friday.@@@@1@17@@oe@2-2-2013
21337011@unknown@formal@none@1@S@The Tokyo stock price index of first section issues was up 7.81 at 2687.53.@@@@1@14@@oe@2-2-2013
21337012@unknown@formal@none@1@S@Relatively stable foreign currency dealings Monday were viewed favorably by market players, traders said.@@@@1@14@@oe@2-2-2013
21337013@unknown@formal@none@1@S@But institutional investors may wait a little longer to appraise the direction of the U.S. monetary policy and the dollar, traders said.@@@@1@22@@oe@2-2-2013
21337014@unknown@formal@none@1@S@Hiroyuki Wada, general manager of the stock department at Okasan Securities, said Monday's trading was "unfocused."@@@@1@16@@oe@2-2-2013
21337015@unknown@formal@none@1@S@He said investors were picking individual stocks based on specific incentives and the likelihood of a wider price increase over the short term.@@@@1@23@@oe@2-2-2013
21337016@unknown@formal@none@1@S@The selective approach blurred themes such as domestic-demand issues, large-capitalization issues or high-technology shares, which had been providing at least some trading direction over the past few weeks, Mr. Wada said.@@@@1@31@@oe@2-2-2013
21337017@unknown@formal@none@1@S@Investors took profits on major construction shares, which advanced last week, shifting their attention to some midsize companies such as Aoki Corp., Tobishima and Maeda.@@@@1@25@@oe@2-2-2013
21337018@unknown@formal@none@1@S@Aoki gained 60 yen to 1,480 yen ($10.40).@@@@1@8@@oe@2-2-2013
21337019@unknown@formal@none@1@S@Some pharmaceutical shares were popular on rumors related to new products to be introduced at a cancer conference that opened in Nagoya.@@@@1@22@@oe@2-2-2013
21337020@unknown@formal@none@1@S@Teijin was up 15 at 936, and Kyowa Hakko gained 30 to 1,770.@@@@1@13@@oe@2-2-2013
21337021@unknown@formal@none@1@S@Mochida advanced 40 to 4,440.@@@@1@5@@oe@2-2-2013
21337022@unknown@formal@none@1@S@Fujisawa continued to attract investors because of strong earning prospects stemming from a new immune control agent.@@@@1@17@@oe@2-2-2013
21337023@unknown@formal@none@1@S@Fujisawa gained 50 to 2,060.@@@@1@5@@oe@2-2-2013
21337024@unknown@formal@none@1@S@Kikkoman was up 30 to 1,600, receiving investor interest for its land property holdings near Tokyo, a trader said.@@@@1@19@@oe@2-2-2013
21337025@unknown@formal@none@1@S@London prices closed modestly higher in the year's thinnest turnover, a condition that underscored a lack of conviction ahead of a U.K. balance of payments report Tuesday.@@@@1@27@@oe@2-2-2013
21337026@unknown@formal@none@1@S@Limited volume ahead of the September trade data showed the market is nervous, but dealers added that the day's modest gains also signaled some support for London equities.@@@@1@28@@oe@2-2-2013
21337027@unknown@formal@none@1@S@They pegged the support largely to anticipation that Britain's current account imbalance can't be much worse than the near record deficits seen in July and August.@@@@1@26@@oe@2-2-2013
21337028@unknown@formal@none@1@S@"It's a case of the market being too high to buy and too afraid to sell," a senior dealer with Kleinwort Benson Securities said.@@@@1@24@@oe@2-2-2013
21337029@unknown@formal@none@1@S@"It's better to wait."@@@@1@4@@oe@2-2-2013
21337030@unknown@formal@none@1@S@The Financial Times 100-share index finished 10.6 points higher at 2189.7.@@@@1@11@@oe@2-2-2013
21337031@unknown@formal@none@1@S@The 30-share index closed 11.6 points higher at 1772.6.@@@@1@9@@oe@2-2-2013
21337032@unknown@formal@none@1@S@Volume was 276.8 million shares, beneath the year's previous low of 280.5 million shares Sept. 25, the session before the August trade figures were released.@@@@1@25@@oe@2-2-2013
21337033@unknown@formal@none@1@S@Analysts' expectations suggest a September current account deficit of #1.6 billion ($2.54 billion), compared with August's #2.0 billion deficit.@@@@1@19@@oe@2-2-2013
21337034@unknown@formal@none@1@S@Dealers, however, said forecasts are broadly divergent with estimates ranging between #1 billion and #2 billion.@@@@1@16@@oe@2-2-2013
21337035@unknown@formal@none@1@S@"The range of expectations is so broad," a dealer at another major U.K. brokerage firm said, "the deficit may have to be nearer or above #2 billion for it to have any impact on the market."@@@@1@36@@oe@2-2-2013
21337036@unknown@formal@none@1@S@Lucas Industries, a British automotive and aerospace concern, rose 13 pence to 614 pence after it said its pretax profit for the year rose 28%.@@@@1@25@@oe@2-2-2013
21337037@unknown@formal@none@1@S@Share prices on the Frankfurt stock exchange closed narrowly mixed in quiet dealings after recovering most of their early losses.@@@@1@20@@oe@2-2-2013
21337038@unknown@formal@none@1@S@The DAX index eased 0.99 point to end at 1523.22 after falling 5.5 points early in the session.@@@@1@18@@oe@2-2-2013
21337039@unknown@formal@none@1@S@Brokers said the declines early in the day were partly caused by losses of the ruling Christian-Democratic Union in communal elections in the state of Baden-Wuerttemberg.@@@@1@26@@oe@2-2-2013
21337040@unknown@formal@none@1@S@The start of a weeklong conference by the IG Metall metal worker union in Berlin is drawing attention to the impending wage negotiations, which could boost companies' personnel costs next year, they said.@@@@1@33@@oe@2-2-2013
21337041@unknown@formal@none@1@S@But there was little selling pressure, and even small orders at the lower levels sufficed to bring the market back to Friday's opening levels.@@@@1@24@@oe@2-2-2013
21337042@unknown@formal@none@1@S@Traders said the thin trading volume points to continued uncertainty by most investors following last Monday's record 13% loss.@@@@1@19@@oe@2-2-2013
21337043@unknown@formal@none@1@S@The market is still 4% short of its level before the plunge, and analysts aren't sure how long it will take until the DAX has closed that gap.@@@@1@28@@oe@2-2-2013
21337044@unknown@formal@none@1@S@But Norbert Braeuer, chief trader at Hessische Landesbank Girozentrale (Helaba), said he expects share prices to move upward in the coming weeks.@@@@1@22@@oe@2-2-2013
21337045@unknown@formal@none@1@S@Banking stocks were the major gainers Monday amid hope that interest rates have peaked, as Deutsche Bank and Dresdner Bank added 4 marks each to 664 marks ($357) and 326 marks, respectively.@@@@1@32@@oe@2-2-2013
21337046@unknown@formal@none@1@S@Commerzbank gained 1 to 252.5.@@@@1@5@@oe@2-2-2013
21337047@unknown@formal@none@1@S@Auto shares were mixed, as Daimler-Benz firmed 2 to 723, Bayerische Motoren Werke lost the same amount to 554, and Volkswagen inched down 1.4 to 451.6.@@@@1@26@@oe@2-2-2013
21337048@unknown@formal@none@1@S@Elsewhere, prices closed higher in Amsterdam, lower in Zurich, Stockholm and Milan, mixed in Brussels and unchanged in Paris.@@@@1@19@@oe@2-2-2013
21337049@unknown@formal@none@1@S@Shares closed higher in Hong Kong, Singapore and Manila, and were lower in Sydney, Seoul and Taipei.@@@@1@17@@oe@2-2-2013
21337050@unknown@formal@none@1@S@Wellington was closed.@@@@1@3@@oe@2-2-2013
21337051@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
21337052@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
21337053@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
21338001@unknown@formal@none@1@S@Enviropact Inc. said it entered into an agreement in principle to sell its pump and tank division and drilling division to GSX Chemical Services for $4 million.@@@@1@27@@oe@2-2-2013
21338002@unknown@formal@none@1@S@The Miami-based environmental engineering concern said GSX Chemical also will assume about $1.6 million in debt related to those divisions.@@@@1@20@@oe@2-2-2013
21338003@unknown@formal@none@1@S@Further, GSX will buy $1 million of Enviropact common stock, at $2.625 a share, plus an option to acquire an additional $1.5 million of common at the same price, the company said.@@@@1@32@@oe@2-2-2013
21338004@unknown@formal@none@1@S@In American Stock Exchange composite trading yesterday, Enviropact closed at $3 a share, up 25 cents.@@@@1@16@@oe@2-2-2013
21338005@unknown@formal@none@1@S@Enviropact said the two divisions account for about $8 million of the company's $20 million in annual revenue.@@@@1@18@@oe@2-2-2013
21338006@unknown@formal@none@1@S@The transaction is expected to close within about 20 days, the company added.@@@@1@13@@oe@2-2-2013
21338007@unknown@formal@none@1@S@Enviropact said the proceeds will be used as working capital for expansion and to pay its existing tax liability of about $1.5 million that was due Sept. 15.@@@@1@28@@oe@2-2-2013
21338008@unknown@formal@none@1@S@GSX is a unit of Laidlaw Transportation Ltd. of Burlington, Canada.@@@@1@11@@oe@2-2-2013
21339001@unknown@formal@none@1@S@Monday, October 23, 1989@@@@1@4@@oe@2-2-2013
21339002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
21339003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
21339004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
21339005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 3/4% high, 8 11/16% low, 8 11/16% near closing bid, 8 3/4% offered.@@@@1@16@@oe@2-2-2013
21339006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
21339007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
21339008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
21339009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
21339010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
21339011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
21339012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.50% 2 to 44 days; 8.25% 45 to 69 days; 8.40% 70 to 89 days; 8.20% 90 to 119 days; 8.05% 120 to 149 days; 7.90% 150 to 179 days; 7.50% 180 to 270 days.@@@@1@44@@oe@2-2-2013
21339013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.575% 30 days; 8.50% 60 days; 8.45% 90 days.@@@@1@24@@oe@2-2-2013
21339014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.09% one month; 8.09% two months; 8.06% three months; 8% six months; 7.94% one year.@@@@1@18@@oe@2-2-2013
21339015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
21339016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
21339017@unknown@formal@none@1@S@Typical rates in the secondary market:8.60% one month; 8.60% three months; 8.40% six months.@@@@1@14@@oe@2-2-2013
21339018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.50% 30 days; 8.32% 60 days; 8.32% 90 days; 8.16% 120 days; 8.05% 150 days; 7.96% 180 days.@@@@1@20@@oe@2-2-2013
21339019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
21339020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 3/4% to 8 5/8% one month; 8 11/16% to 8 9/16% two months; 8 3/4% to 8 5/8% three months; 8 5/8% to 8 1/2% four months; 8 9/16% to 8 7/16% five months; 8 9/16% to 8 7/16% six months.@@@@1@45@@oe@2-2-2013
21339021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 3/4% one month; 8 3/4% three months; 8 9/16% six months; 8 1/2% one year.@@@@1@21@@oe@2-2-2013
21339022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
21339023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 9%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
21339024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
21339025@unknown@formal@none@1@S@Results of the Monday, October 23, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.52%, 13 weeks; 7.50%, 26 weeks.@@@@1@33@@oe@2-2-2013
21339026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac): Posted yields on 30-year mortgage commitments for delivery within 30 days. 9.86%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@31@@oe@2-2-2013
21339027@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21339028@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae): Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par). 9.80%, standard conventional fixed-rate mortgages; 8.75%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@34@@oe@2-2-2013
21339029@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21339030@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.56%.@@@@1@6@@oe@2-2-2013
21339031@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
21340001@unknown@formal@none@1@S@Bankers Trust New York Corp., as expected, reported a third-quarter loss of $1.42 billion, or $17.39 a share, following its $1.6 billion boost in reserves for losses on loans to less-developed countries.@@@@1@32@@oe@2-2-2013
21340002@unknown@formal@none@1@S@The loss compares with net income of $162.1 million, or $2.01 a share, in the year-earlier period.@@@@1@17@@oe@2-2-2013
21340003@unknown@formal@none@1@S@Interest income rose 29% to about $1.35 billion from $1.05 billion.@@@@1@11@@oe@2-2-2013
21340004@unknown@formal@none@1@S@The New York bank holding company's assets at Sept. 30 climbed to $59.4 billion from $57.9 billion.@@@@1@17@@oe@2-2-2013
21340005@unknown@formal@none@1@S@Excluding the increase in loan-loss reserves, Bankers Trust said third-quarter net income would have increased 11% to $180 million.@@@@1@19@@oe@2-2-2013
21340006@unknown@formal@none@1@S@A number of major banks have posted big losses after sharply increasing loan-loss reserves.@@@@1@14@@oe@2-2-2013
21340007@unknown@formal@none@1@S@Most of the loans in question are to Third World countries in South America.@@@@1@14@@oe@2-2-2013
21340008@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Bankers Trust fell 12.5 cents to $50.50.@@@@1@15@@oe@2-2-2013
21341001@unknown@formal@none@1@S@BRISTOL-MYERS SQUIBB Co. (New York) --@@@@1@6@@oe@2-2-2013
21341002@unknown@formal@none@1@S@Gerald C. Beddall, 47 years old, was named president of the Clairol division of this pharmaceuticals and health-care company.@@@@1@19@@oe@2-2-2013
21341003@unknown@formal@none@1@S@He succeeds C. Benjamin Brooks Jr., who will retire Nov. 1.@@@@1@11@@oe@2-2-2013
21341004@unknown@formal@none@1@S@Mr. Brooks declined to give his age, but he said his leaving is a normal retirement.@@@@1@16@@oe@2-2-2013
21341005@unknown@formal@none@1@S@Mr. Beddall had been executive vice president of the division since April.@@@@1@12@@oe@2-2-2013
21341006@unknown@formal@none@1@S@Clairol, which makes hair and skin products, was a division of Bristol-Myers Co. before that company's merger with Squibb Corp.@@@@1@20@@oe@2-2-2013
21342001@unknown@formal@none@1@S@Annualized interest rates on certain investments as reported by the Federal Reserve Board on a weekly-average basis:@@@@1@17@@oe@2-2-2013
21342002@unknown@formal@none@1@S@a-Discounted rate.@@@@1@2@@oe@2-2-2013
21342003@unknown@formal@none@1@S@b-Week ended Wednesday, October 18, 1989 and Wednesday October 11, 1989.@@@@1@11@@oe@2-2-2013
21342004@unknown@formal@none@1@S@c-Yields, adjusted for constant maturity.@@@@1@5@@oe@2-2-2013
21343001@unknown@formal@none@1@S@American Telephone & Telegraph Co. said it will spend $20 million to build a factory in Guadalajara, Mexico, to make telephone answering machines.@@@@1@23@@oe@2-2-2013
21343002@unknown@formal@none@1@S@Construction of the 265,000-square-foot facility will begin next year, with production expected to start in late 1991.@@@@1@17@@oe@2-2-2013
21343003@unknown@formal@none@1@S@When fully operational, the Guadalajara factory will employ about 1,500 workers and have annual operating expenses of $5 million to $6 million.@@@@1@22@@oe@2-2-2013
21343004@unknown@formal@none@1@S@An AT&T representative said that the Guadalajara factory will make a full line of answering machines.@@@@1@16@@oe@2-2-2013
21343005@unknown@formal@none@1@S@AT&T already has a factory in Matamoros, Mexico, to make electrical devices.@@@@1@12@@oe@2-2-2013
21343006@unknown@formal@none@1@S@It also purchases data systems products from a manufacturer based in Monterrey.@@@@1@12@@oe@2-2-2013
21344001@unknown@formal@none@1@S@Lucas Industries PLC, a British maker of industrial parts and systems, reported a 28% rise in pretax profit for the year to July 31, helped in particular by a 32% jump in operating profit at its aerospace division.@@@@1@38@@oe@2-2-2013
21344002@unknown@formal@none@1@S@Pretax profit in the latest year climbed to #187.1 million ($297.1 million) from #146.3 million ($232.3 million).@@@@1@17@@oe@2-2-2013
21344003@unknown@formal@none@1@S@Profit after taxes and minority interests but before extraordinary items climbed 27% to #143.4 million from #112.5 million, with earnings per share rising to 85.1 pence ($1.35) from 79.4 pence ($1.26).@@@@1@31@@oe@2-2-2013
21344004@unknown@formal@none@1@S@The results were at the upper end of market expectations, which ranged from #185 million to #188 million.@@@@1@18@@oe@2-2-2013
21345001@unknown@formal@none@1@S@TW Services Inc. posted a $3.3 million third-quarter net loss, compared with a $24.9 million profit, reflecting $60 million of expenses related to its much-publicized proposed takeover by Coniston Partners.@@@@1@30@@oe@2-2-2013
21345002@unknown@formal@none@1@S@The per-share loss for the Paramus, N.J., food-services concern totaled seven cents, compared with earnings of 51 cents a share a year earlier.@@@@1@23@@oe@2-2-2013
21345003@unknown@formal@none@1@S@Revenue rose 5% to $981.7 million from $934.7 million.@@@@1@9@@oe@2-2-2013
21345004@unknown@formal@none@1@S@Coniston, a New York investment partnership, awaits a vote by TW's shareholders, scheduled for Friday, on Coniston's $34-a-share, or $1.66 billion, offer for TW.@@@@1@24@@oe@2-2-2013
21345005@unknown@formal@none@1@S@Nine-month net income dropped 47% to $26.3 million, or 54 cents a share, from $49.7 million, or $1.02 a share.@@@@1@20@@oe@2-2-2013
21345006@unknown@formal@none@1@S@Revenue rose 6% to $2.79 billion from $2.63 billion.@@@@1@9@@oe@2-2-2013
21346001@unknown@formal@none@1@S@Cummins Engine Co., Columbus, Ind., hurt by a drop in engine orders from heavy-truck makers, reported a third-quarter loss of $39.7 million, or $4.12 a share, on essentially flat sales of $807.6 million.@@@@1@33@@oe@2-2-2013
21346002@unknown@formal@none@1@S@In the year-earlier period, the maker of diesel engines and parts had a narrower deficit of $17.6 million, or $1.84 a share, with sales of $808.3 million.@@@@1@27@@oe@2-2-2013
21346003@unknown@formal@none@1@S@A spokeswoman said shipments of truck engines, which provide a higher margin than most of the company's other products, declined 16% from a year earlier.@@@@1@25@@oe@2-2-2013
21346004@unknown@formal@none@1@S@Although Cummins's stock stumbled last month after the company projected a "substantial" third-period loss, the stock also fell $1.125 in composite New York Stock Exchange trading yesterday, to $51.75.@@@@1@29@@oe@2-2-2013
21346005@unknown@formal@none@1@S@It traded as high as $64 a month ago, before the loss projection.@@@@1@13@@oe@2-2-2013
21346006@unknown@formal@none@1@S@For the nine months, the latest loss trimmed net income to $3.6 million, which after payment of preferred dividends represented a 31-cent loss a common share.@@@@1@26@@oe@2-2-2013
21346007@unknown@formal@none@1@S@The year-before loss was $8.4 million, or $1.36 a common share.@@@@1@11@@oe@2-2-2013
21347001@unknown@formal@none@1@S@Exxon Corp. filed suit against the state of Alaska, charging state officials interfered with the oil company's initial efforts to treat last spring's giant oil spill.@@@@1@26@@oe@2-2-2013
21347002@unknown@formal@none@1@S@The action is a counterclaim to a suit filed by Alaska in August against Exxon and six other oil companies.@@@@1@20@@oe@2-2-2013
21347003@unknown@formal@none@1@S@The state's suit alleges that Exxon's response to the spill failed to prevent contamination of hundreds of miles of shoreline along Prince William Sound.@@@@1@24@@oe@2-2-2013
21347004@unknown@formal@none@1@S@That suit and Exxon's countersuit were filed in a state court in Anchorage.@@@@1@13@@oe@2-2-2013
21347005@unknown@formal@none@1@S@Neither suit lists specific dollar claims, largely because damage assessment hasn't yet been completed.@@@@1@14@@oe@2-2-2013
21347006@unknown@formal@none@1@S@Legal strategists say that damage claims against the oil giant and others could well exceed $1 billion.@@@@1@17@@oe@2-2-2013
21347007@unknown@formal@none@1@S@Litigation, if not settled out of court, could drag on for years.@@@@1@12@@oe@2-2-2013
21347008@unknown@formal@none@1@S@Exxon said in its suit that it will seek reimbursement from the state for that part of the cleanup costs and damage claims it says resulted from the state's conduct.@@@@1@30@@oe@2-2-2013
21347009@unknown@formal@none@1@S@The oil company claims that Alaskan officials prevented Exxon from spraying dispersant onto the almost 11 million gallons of oil dumped when one of its tankers ran into an underwater reef.@@@@1@31@@oe@2-2-2013
21347010@unknown@formal@none@1@S@Craig Tillery, an Alaska assistant attorney general, said in an interview last night that Exxon's accusations "are not new.@@@@1@19@@oe@2-2-2013
21347011@unknown@formal@none@1@S@Exxon has made them before, at which point the state demonstrated they were untrue.@@@@1@14@@oe@2-2-2013
21347012@unknown@formal@none@1@S@The state will vigorously defend against any counterclaim."@@@@1@8@@oe@2-2-2013
21347013@unknown@formal@none@1@S@Since the spill last March, Exxon and the state have been wrangling over whether spraying dispersant on the oil in the first hours after the spill, when the weather was clear and calm, would have helped limit the environmental damage.@@@@1@40@@oe@2-2-2013
21347014@unknown@formal@none@1@S@Exxon claims that use of dispersants, which break an oil slick into microscopic droplets, was a crucial part of its immediate-response plan and that state officials banned their use during the two days of fair weather following the spill.@@@@1@39@@oe@2-2-2013
21347015@unknown@formal@none@1@S@The oil company claims that it had permission from the U.S. Environmental Protection Agency prior to the spill to use dispersant during such an incident at the discretion of the U.S. Coast Guard.@@@@1@33@@oe@2-2-2013
21347016@unknown@formal@none@1@S@The state's opposition to the use of dispersants, Exxon says, caused the Coast Guard "to delay granting permission."@@@@1@18@@oe@2-2-2013
21347017@unknown@formal@none@1@S@Alaskan and Coast Guard officials say Exxon's charges aren't relevant because tests conducted during the first two days following the spill showed that the dispersant wasn't working anyway.@@@@1@28@@oe@2-2-2013
21347018@unknown@formal@none@1@S@Use of dispersants was approved when a test on the third day showed some positive results, officials said.@@@@1@18@@oe@2-2-2013
21348001@unknown@formal@none@1@S@Meson Investment Ltd., a Vancouver, B.C.-based investment firm, said it raised its stake in Verit Industries to 8.9% of the common shares outstanding.@@@@1@23@@oe@2-2-2013
21348002@unknown@formal@none@1@S@In a Securities and Exchange Commission filing, Meson said it holds 67,400 Verit common shares, including net purchases of 8,100 shares bought from Oct. 10, 1988, to Oct. 11, 1989, for $3.875 to $7 each.@@@@1@35@@oe@2-2-2013
21348003@unknown@formal@none@1@S@Meson is the personal holding company of Steven Morfey, a Vancouver securities dealer.@@@@1@13@@oe@2-2-2013
21348004@unknown@formal@none@1@S@He said the transaction was made for investment purposes.@@@@1@9@@oe@2-2-2013
21348005@unknown@formal@none@1@S@Officials for Sun Valley, Calif.-based Verit couldn't be reached for comment.@@@@1@11@@oe@2-2-2013
21348006@unknown@formal@none@1@S@In composite trading on the American Stock Exchange, Verit closed unchanged yesterday at $3.875 a share.@@@@1@16@@oe@2-2-2013
21349001@unknown@formal@none@1@S@The House Appropriations Committee approved an estimated $2.85 billion in emergency funding to assist California's recovery from last week's earthquake and to extend further aid to East Coast victims of Hurricane Hugo.@@@@1@32@@oe@2-2-2013
21349002@unknown@formal@none@1@S@The package was termed excessive by the Bush administration, but it also provoked a struggle with influential California lawmakers who sought unsuccessfully to add nearly $1 billion more and waive current restrictions to expedite the distribution of funds.@@@@1@38@@oe@2-2-2013
21349003@unknown@formal@none@1@S@By a 26-7 margin, the committee scuttled the more expensive alternative, and the debate forced a strained confrontation between Appropriations Committee Chairman Jamie Whitten (D., Miss.) and his party's largest state delegation in the House.@@@@1@35@@oe@2-2-2013
21349004@unknown@formal@none@1@S@"I have no regrets about going forward," said Rep. Vic Fazio (D.,Calif.), who sought later to play down the sometimes hostile tone of the long evening meeting.@@@@1@27@@oe@2-2-2013
21349005@unknown@formal@none@1@S@"We are the Golden State," Mr. Fazio said, "and there is a certain amount of jealousy."@@@@1@16@@oe@2-2-2013
21349006@unknown@formal@none@1@S@The $2.85 billion package incorporates $500 million for small-business loans, $1 billion in highway construction funds, and $1.35 billion divided between general emergency assistance and a reserve to be available to President Bush to meet unanticipated costs from the two disasters.@@@@1@41@@oe@2-2-2013
21349007@unknown@formal@none@1@S@The funding is attached to a stopgap bill to keep most of the government operating through Nov. 15.@@@@1@18@@oe@2-2-2013
21349008@unknown@formal@none@1@S@The measure is expected to come before the House today, and Congress is under pressure to complete action before midnight EDT tomorrow, when the current continuing resolution expires.@@@@1@28@@oe@2-2-2013
21349009@unknown@formal@none@1@S@Given California's size and political importance, the White House is eager to appear generous.@@@@1@14@@oe@2-2-2013
21349010@unknown@formal@none@1@S@But in private meetings yesterday, Budget Director Richard Darman argued that only $1.5 billion in new federal appropriations are needed to supplement existing resources.@@@@1@24@@oe@2-2-2013
21349011@unknown@formal@none@1@S@A White House budget office analysis estimates that $500 million -- or half the level in the committee bill -- is needed for highway assistance to meet California's needs, and the administration rejects the notion that new appropriations are needed to finance disaster loans by the Small Business Administration.@@@@1@49@@oe@2-2-2013
21349012@unknown@formal@none@1@S@"Everybody appreciates that it is a national disaster and that we've got to address it," said Mr. Darman, who came to the Capitol to meet with Mr. Whitten and California lawmakers before the committee session.@@@@1@35@@oe@2-2-2013
21349013@unknown@formal@none@1@S@"I would hope very much that we wouldn't end up in a kind of situation where you have a bidding war and then a veto threat."@@@@1@26@@oe@2-2-2013
21349014@unknown@formal@none@1@S@Although this White House pressure was clearly a factor among committee Republicans, no single influence was greater than Mr. Whitten.@@@@1@20@@oe@2-2-2013
21349015@unknown@formal@none@1@S@A master of pork-barrel politics, he had crafted the $2.85 billion package in vintage style and used the full force of his chairmanship to keep the proposal intact and dismiss any alternative.@@@@1@32@@oe@2-2-2013
21349016@unknown@formal@none@1@S@When Mr. Fazio offered the California-backed $3.84 billion plan, Mr. Whitten insisted that the full 14 pages be read aloud by the panel's clerk to underscore the range of legislative changes also sought by the delegation.@@@@1@36@@oe@2-2-2013
21349017@unknown@formal@none@1@S@On the chairman's motion, the California package was subsequently reduced to less-binding report language, and even when this was accepted as such on a voice vote, Mr. Whitten pointedly opposed it.@@@@1@31@@oe@2-2-2013
21349018@unknown@formal@none@1@S@More important than money in many cases are waivers California is seeking on current restrictions covering federal highway funds, such as a $100 million cap on how much any single state can receive in emergency funds in a year.@@@@1@39@@oe@2-2-2013
21349019@unknown@formal@none@1@S@Mr. Whitten's package appears to accomplish this purpose, but the state faces more resistance in its bid for an extended waiver on having to put up any matching funds on repairs completed in the next six months.@@@@1@37@@oe@2-2-2013
21349020@unknown@formal@none@1@S@A member in the House leadership and skilled legislator, Mr. Fazio nonetheless found himself burdened not only by California's needs but by Hurricane Hugo amendments he accepted in a vain effort to build support in the panel.@@@@1@37@@oe@2-2-2013
21349021@unknown@formal@none@1@S@The California Democrat appeared embarrassed by provisions inserted on behalf of owners of private beaches in the Virgin Islands, and lumber interests sought to add another $100 million in federal aid to plant timber on private land in North and South Carolina.@@@@1@42@@oe@2-2-2013
21349022@unknown@formal@none@1@S@California's high-priced real estate puts it in an awkward position, too.@@@@1@11@@oe@2-2-2013
21349023@unknown@formal@none@1@S@One provision last night would have raised the cap on disaster loans to $500,000 from $100,000 per household to accommodate San Francisco losses.@@@@1@23@@oe@2-2-2013
21350001@unknown@formal@none@1@S@Kurzweil Music Systems Inc. said it retained Kidder, Peabody & Co. to study financial alternatives, including the possible sale of the financially struggling company.@@@@1@24@@oe@2-2-2013
21350002@unknown@formal@none@1@S@Kurzweil, Waltham, Mass., makes digital electronic keyboard instruments used by professional recording musicians.@@@@1@13@@oe@2-2-2013
21350003@unknown@formal@none@1@S@It recently introduced a line for the home market.@@@@1@9@@oe@2-2-2013
21350004@unknown@formal@none@1@S@However, Raymond C. Kurzweil, chairman and chief executive, said "The company continues to require additional funding to realize the potential of its technology."@@@@1@23@@oe@2-2-2013
21350005@unknown@formal@none@1@S@In the year's first six months, Kurzweil had a loss of $6.9 million on sales of $11.2 million.@@@@1@18@@oe@2-2-2013
21350006@unknown@formal@none@1@S@Last month its president, John S. Donnelly, resigned citing "management differences" with Mr. Kurzweil.@@@@1@14@@oe@2-2-2013
21351001@unknown@formal@none@1@S@Amtech Systems Inc., Tempe, Ariz., said its preliminary year-end results of operations indicate "substantial improvement" over the previous fiscal year.@@@@1@20@@oe@2-2-2013
21351002@unknown@formal@none@1@S@Amtech, which makes an automated process system that improves the yields of semiconductor manufacturers, said profit for the year ended Sept. 30 rose to more than $800,000 from $446,000 last year.@@@@1@31@@oe@2-2-2013
21351003@unknown@formal@none@1@S@Per-share earnings are estimated at more than 40 cents, up from 22 cents for fiscal 1988.@@@@1@16@@oe@2-2-2013
21351004@unknown@formal@none@1@S@Total revenue is expected to double to more than $22 million from $10.8 million.@@@@1@14@@oe@2-2-2013
21351005@unknown@formal@none@1@S@Amtech, which also provides technical temporary employment services to aerospace, defense, computer and high-tech companies in the Southwest and Baltimore-Washington areas, said its final audited results are due in late November.@@@@1@31@@oe@2-2-2013
21351006@unknown@formal@none@1@S@The company attributed the improvement to strong demand in the semiconductor equipment segment as well as the acquisition of Echelon Service Co. and the inclusion of a full year's results of operations for RTS Inc., compared with seven months' results for the prior year.@@@@1@44@@oe@2-2-2013
21352001@unknown@formal@none@1@S@LDI Corp., Cleveland, said it will offer $50 million in commercial paper backed by lease-rental receivables.@@@@1@16@@oe@2-2-2013
21352002@unknown@formal@none@1@S@The program matches funds raised from the sale of the commercial paper with small to medium-sized leases.@@@@1@17@@oe@2-2-2013
21352003@unknown@formal@none@1@S@LDI termed the paper "non-recourse financing," meaning that investors would be repaid from the lease receivables, rather than directly by LDI Corp.@@@@1@22@@oe@2-2-2013
21352004@unknown@formal@none@1@S@LDI leases and sells data-processing, telecommunications and other high-tech equipment.@@@@1@10@@oe@2-2-2013
21353001@unknown@formal@none@1@S@SHEVARDNADZE ADMITTED that Moscow violated the 1972 ABM treaty.@@@@1@9@@oe@2-2-2013
21353002@unknown@formal@none@1@S@In a foreign-policy address before the Soviet legislature, the foreign minister conceded that the radar station in Krasnoyarsk breached the superpower Anti-Ballistic Missile treaty and said it would be dismantled.@@@@1@30@@oe@2-2-2013
21353003@unknown@formal@none@1@S@Shevardnadze said it took Gorbachev's government four years to determine that the station's location in Siberia violated the accord, as Western arms-control officials have long contended.@@@@1@26@@oe@2-2-2013
21353004@unknown@formal@none@1@S@He also denounced Moscow's nine-year involvement in the war in Afghanistan, saying it involved "gross violations of . . . civil norms and ethics."@@@@1@24@@oe@2-2-2013
21353005@unknown@formal@none@1@S@Secretary of State Baker, in his first major arms-control speech, called for a new military relationship with Moscow to reduce "first strike" nuclear arms.@@@@1@24@@oe@2-2-2013
21353006@unknown@formal@none@1@S@BAY AREA COMMUTERS BATTLED earthquake-related transportation snarls.@@@@1@7@@oe@2-2-2013
21353007@unknown@formal@none@1@S@Travelers crowded into subways, sat in traffic jams on major freeways or waited for buses in the rain, but the massive gridlock anticipated by officials in the San Francisco Bay area never materialized.@@@@1@33@@oe@2-2-2013
21353008@unknown@formal@none@1@S@As the death toll from last week's temblor climbed to 61, the condition of freeway survivor Buck Helm, who spent four days trapped under rubble, improved, hospital officials said.@@@@1@29@@oe@2-2-2013
21353009@unknown@formal@none@1@S@Rescue crews, however, gave up hope that others would be found alive under the collapsed roadway.@@@@1@16@@oe@2-2-2013
21353010@unknown@formal@none@1@S@The House Appropriations Committee approved a $2.85 billion aid package for the quake region, less than the $3.8 billion sought by California officials.@@@@1@23@@oe@2-2-2013
21353011@unknown@formal@none@1@S@Hungary declared itself a democracy and for the first time openly commemorated the anniversary of the 1956 anti-Stalinist uprising that was crushed by the Soviet Union.@@@@1@26@@oe@2-2-2013
21353012@unknown@formal@none@1@S@A crowd estimated at 100,000 held a torch-lit march through Budapest as Acting President Szuros delivered a nationally televised address rejecting communist dominance.@@@@1@23@@oe@2-2-2013
21353013@unknown@formal@none@1@S@About 200,000 East Germans marched in Leipzig and thousands more staged protests in three other cities in a fresh challenge to the Communist leadership to introduce democratic freedoms.@@@@1@28@@oe@2-2-2013
21353014@unknown@formal@none@1@S@In an East Berlin suburb, meanwhile, employees at an electronics plant formed an independent trade union called Reform, a worker spokesman said.@@@@1@22@@oe@2-2-2013
21353015@unknown@formal@none@1@S@The space shuttle Atlantis landed at a desert air strip at Edwards Air Force Base, Calif., ending a five-day mission that dispatched the Jupiter-bound Galileo space probe.@@@@1@27@@oe@2-2-2013
21353016@unknown@formal@none@1@S@The five astronauts returned to Earth about three hours early because high winds had been predicted at the landing site.@@@@1@20@@oe@2-2-2013
21353017@unknown@formal@none@1@S@Fog shrouded the base before touchdown.@@@@1@6@@oe@2-2-2013
21353018@unknown@formal@none@1@S@Explosions shook a Phillips Petroleum Co. plastics plant near Pasadena, Texas, hurling debris and causing a fire visible from 10 miles away.@@@@1@22@@oe@2-2-2013
21353019@unknown@formal@none@1@S@More than 100 people were injured, and a number of workers were missing.@@@@1@13@@oe@2-2-2013
21353020@unknown@formal@none@1@S@Parts of the Houston Ship Channel were closed.@@@@1@8@@oe@2-2-2013
21353021@unknown@formal@none@1@S@The White House said Bush is conferring with leaders of the Senate Intelligence Committee to ease differences over guidelines for CIA agents.@@@@1@22@@oe@2-2-2013
21353022@unknown@formal@none@1@S@The statement came after officials said Bush complained at a private meeting last week that a strict interpretation of a policy requires the U.S. to notify foreign dictators of certain coup plots.@@@@1@32@@oe@2-2-2013
21353023@unknown@formal@none@1@S@Lebanon's Gen. Aoun placed Christian military forces on alert in case of renewed fighting with Syrian-backed Moslems after Lebanon's two main Shiite militias rejected an Arab-sponsored peace accord.@@@@1@28@@oe@2-2-2013
21353024@unknown@formal@none@1@S@The plan, approved by lawmakers and rejected Sunday by Aoun, includes political changes aimed at ending the 14-year-old civil war.@@@@1@20@@oe@2-2-2013
21353025@unknown@formal@none@1@S@NATO defense ministers are expected to call for a reduction in nuclear forces in Europe when the alliance's nuclear planning group convenes a two-day session today in Portugal.@@@@1@28@@oe@2-2-2013
21353026@unknown@formal@none@1@S@The ministers are to reshape NATO's defenses in Western Europe amid fast-paced changes in the Soviet bloc.@@@@1@17@@oe@2-2-2013
21353027@unknown@formal@none@1@S@Iran's President Rafsanjani offered to help gain freedom for Western hostages in Lebanon, but said the assistance was contingent on U.S. aid in resolving the cases of three Iranians kidnapped in Lebanon in 1982 or the release of frozen Iranian assets.@@@@1@41@@oe@2-2-2013
21353028@unknown@formal@none@1@S@Washington rejected the bid, saying the hostages weren't linked to other issues.@@@@1@12@@oe@2-2-2013
21353029@unknown@formal@none@1@S@PLO leader Arafat asked Egypt to seek clarifications from the U.S. on Secretary of State Baker's plan for Mideast peace talks, an aide to Egyptian President Mubarak said.@@@@1@28@@oe@2-2-2013
21353030@unknown@formal@none@1@S@The official stressed that the PLO hasn't rejected the five-point formula.@@@@1@11@@oe@2-2-2013
21353031@unknown@formal@none@1@S@Commonwealth leaders turned to issues ranging from drugs to the world economy after Zimbabwe's President Mugabe called Thatcher's views on South Africa "despicable."@@@@1@23@@oe@2-2-2013
21353032@unknown@formal@none@1@S@At a meeting in Malaysia, Australia and Canada also assailed the British prime minister for criticizing the 49-nation group's call for Pretoria to ease apartheid.@@@@1@25@@oe@2-2-2013
21354001@unknown@formal@none@1@S@CMS Enhancements Inc. said it estimates that sales and earnings for the fiscal first quarter ended Sept. 30 fell somewhat from the year-earlier period.@@@@1@24@@oe@2-2-2013
21354002@unknown@formal@none@1@S@Jim Farooquee, chief executive officer of the Tustin, Calif., computer accessories supplier, said he was "comfortable" with analysts' expectations that CMS would earn between six cents and eight cents a share on revenue of about $42 million.@@@@1@37@@oe@2-2-2013
21354003@unknown@formal@none@1@S@A year earlier, CMS posted profit of $1.1 million, or 13 cents a share, on sales of $48 million.@@@@1@19@@oe@2-2-2013
21354004@unknown@formal@none@1@S@This time, there are 30% more shares outstanding.@@@@1@8@@oe@2-2-2013
21354005@unknown@formal@none@1@S@Mr. Farooquee attributed the decline to an industrywide softening of demand for computer enhancement products.@@@@1@15@@oe@2-2-2013
21355001@unknown@formal@none@1@S@Property Capital Trust said it dropped its plan to liquidate because it wasn't able to realize the value it had expected.@@@@1@21@@oe@2-2-2013
21355002@unknown@formal@none@1@S@It said it will buy back two million shares, or 18.4%, of the total outstanding, and continue operations buying and managing real estate.@@@@1@23@@oe@2-2-2013
21355003@unknown@formal@none@1@S@Property Capital, which is based in Boston, had told shareholders it expected to distribute at least $21 a share, or $229 million, in a liquidation, based on an expected asset sale price of $290 million or more.@@@@1@37@@oe@2-2-2013
21355004@unknown@formal@none@1@S@The company said it didn't receive an offer it wanted to accept.@@@@1@12@@oe@2-2-2013
21355005@unknown@formal@none@1@S@As a result of dropping the liquidation plan, shareholders will have to treat dividends received this year as ordinary income or capital gains rather than as tax free returns of capital, the company said.@@@@1@34@@oe@2-2-2013
21355006@unknown@formal@none@1@S@The share repurchase will be funded mostly from borrowings.@@@@1@9@@oe@2-2-2013
21356001@unknown@formal@none@1@S@A.H. Belo Corp. said its net income was $3.1 million, or 15 cents a share, in the third quarter, more than four times its profit of $663,000, or three cents a share, last year.@@@@1@34@@oe@2-2-2013
21356002@unknown@formal@none@1@S@Included in the results was an adjustment to the Dallas-based company's tax rate that reduced net income by about 10 cents a share, or approximately $2 million.@@@@1@27@@oe@2-2-2013
21356003@unknown@formal@none@1@S@Belo said it increased its effective tax rate to 52% from 47% to account for potential liabilities related to an Internal Revenue Service investigation of its tax returns for the years 1984 through 1988.@@@@1@34@@oe@2-2-2013
21356004@unknown@formal@none@1@S@The newspaper and television owner said it expects the tax adjustment to reduce its net income for the full year by 14 cents, or approximately $2.8 million based on its 20.2 million shares outstanding.@@@@1@34@@oe@2-2-2013
21356005@unknown@formal@none@1@S@For the third quarter, Belo said its revenue increased 11%, to $101.5 million from $91.2 million last year.@@@@1@18@@oe@2-2-2013
21356006@unknown@formal@none@1@S@For the nine months, the company had net income of $15.1 million, or 74 cents a share, up 98% from $7.6 million, or 38 cents a share last year.@@@@1@29@@oe@2-2-2013
21356007@unknown@formal@none@1@S@Revenue grew almost 8% to $301.9 million from $279.8 million last year.@@@@1@12@@oe@2-2-2013
21357001@unknown@formal@none@1@S@A federal judge granted a temporary stay of the California Student Aid Commission's emergency action to stop guaranteeing loans for National Technical Schools, a unit of United Education & Software Inc.@@@@1@31@@oe@2-2-2013
21357002@unknown@formal@none@1@S@The California Student Aid Commission took the action Oct. 15 after a government audit cited National Technical Schools for having courses too short to be eligible for the educational loan program and having a student drop-out rate far in excess of federal standards, and it alleged other serious violations of law and regulations.@@@@1@53@@oe@2-2-2013
21357003@unknown@formal@none@1@S@United Education & Software, a Los Angeles education services company, called the commission's action "precipitous and unwarranted."@@@@1@17@@oe@2-2-2013
21357004@unknown@formal@none@1@S@The court set a hearing on the emergency action for Oct. 30.@@@@1@12@@oe@2-2-2013
21357005@unknown@formal@none@1@S@United Education & Software posted a $250,000 bond against potential losses to the student aid commission and to taxpayers in guaranteeing any more loans for National Technical Schools students prior to the hearing.@@@@1@33@@oe@2-2-2013
21358001@unknown@formal@none@1@S@A decline in Allied-Signal Inc.'s automotive business contributed to flat sales and only slightly higher earnings in the third quarter.@@@@1@20@@oe@2-2-2013
21358002@unknown@formal@none@1@S@Allied-Signal reported that net rose 1.7% to $121 million, or 81 cents a share, from $119 million, or 80 cents a share, the year earlier.@@@@1@25@@oe@2-2-2013
21358003@unknown@formal@none@1@S@Sales slipped 1.3% to $2.82 billion from $2.86 billion.@@@@1@9@@oe@2-2-2013
21358004@unknown@formal@none@1@S@For the nine months, the Morris Township, N.J.-based company, with businesses in aerospace, automotive products and engineered materials, earned $413 million, or $2.77 cents a share, up 15% from $359 million, or $2.40 a share.@@@@1@35@@oe@2-2-2013
21358005@unknown@formal@none@1@S@Sales eased 0.2% to $8.88 billion from $8.90 billion.@@@@1@9@@oe@2-2-2013
21358006@unknown@formal@none@1@S@Chairman Edward L. Hennessy Jr. said that a drop in sales of auto and truck parts contributed to lower earnings in the automotive unit.@@@@1@24@@oe@2-2-2013
21358007@unknown@formal@none@1@S@He also cited unfavorable foreign-exchange rates and a lower tax rate.@@@@1@11@@oe@2-2-2013
21358008@unknown@formal@none@1@S@Earnings for the group declined to $11 million from $33 million last year.@@@@1@13@@oe@2-2-2013
21358009@unknown@formal@none@1@S@Earnings at Allied-Signal's aerospace business rose to $55 million from $41 million a year ago, primarily on higher sales and profit in its engines and auxiliary power units.@@@@1@28@@oe@2-2-2013
21358010@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Allied-Signal shares closed at $35.125, off 87.5 cents.@@@@1@16@@oe@2-2-2013
21359001@unknown@formal@none@1@S@The National Highway Traffic Safety Administration said it will start enforcing stiffer regulations Jan. 31 for so-called gray-market imports of vehicles.@@@@1@21@@oe@2-2-2013
21359002@unknown@formal@none@1@S@The regulations, required under legislation enacted by Congress last year, will apply to imports of vehicles that weren't built to meet U.S. government auto safety standards and were intended for use in Europe or elsewhere abroad.@@@@1@36@@oe@2-2-2013
21359003@unknown@formal@none@1@S@U.S. officials estimated that gray-market imports total about 2,100 units a year, a small part of the more than three million vehicles exported to the U.S. each year.@@@@1@28@@oe@2-2-2013
21359004@unknown@formal@none@1@S@According to the NHTSA, the new regulations will prohibit anyone other than an importer that has registered with the U.S. government, or a person who has a contract with a registered importer, from permanently importing a vehicle that doesn't meet the U.S. auto safety standards.@@@@1@45@@oe@2-2-2013
21359005@unknown@formal@none@1@S@The registered importer would be required to bring such vehicles into compliance with the U.S. safety standards, compared with the current situation in which anyone can bring in such vehicles and modify them to meet the U.S. standards.@@@@1@38@@oe@2-2-2013
21359006@unknown@formal@none@1@S@Congress tightened auto safety standards for gray-market imports after U.S. auto dealers, including franchised foreign-car dealers, complained that they often were blamed when the second and third buyers of such vehicles found that the cars couldn't meet U.S. auto safety standards.@@@@1@41@@oe@2-2-2013
21360001@unknown@formal@none@1@S@Legent Corp. said it expects to report net income between $6.4 million and $6.9 million, or between 32 cents and 34 cents a share, for its fourth quarter ended Sept. 30.@@@@1@31@@oe@2-2-2013
21360002@unknown@formal@none@1@S@In the year-ago quarter, the software developer reported pro forma earnings of $4.8 million, or 24 cents a share.@@@@1@19@@oe@2-2-2013
21360003@unknown@formal@none@1@S@Vienna, Va.-based Legent said it expects to post revenue for the quarter of more than $31 million, compared with pro forma revenue of $25.2 million in 1988.@@@@1@27@@oe@2-2-2013
21360004@unknown@formal@none@1@S@For the fiscal year, the company said it anticipates reporting earnings of $23 million, or about $1.15 a share, including a charge of about $5.9 million, or 22 cents a share, related to the merger that created Legent out of Duquesne Systems Inc. and Morino Inc. in March 1989.@@@@1@49@@oe@2-2-2013
21360005@unknown@formal@none@1@S@Revenue for fiscal 1989 is expected to exceed $124 million.@@@@1@10@@oe@2-2-2013
21360006@unknown@formal@none@1@S@Pro forma earnings for fiscal 1988 were $19.6 million, or 99 cents a share, on revenue of $97.2 million.@@@@1@19@@oe@2-2-2013
21360007@unknown@formal@none@1@S@The company attributed much of the growth in earnings to increased demand for its systems productivity software.@@@@1@17@@oe@2-2-2013
21361001@unknown@formal@none@1@S@Archive Corp. said it expects to report net income for its fiscal year ended Sept. 29 of a record $15 million, or $1.15 a share, up 43% from $10.5 million, or 80 cents a share, for the prior year.@@@@1@39@@oe@2-2-2013
21361002@unknown@formal@none@1@S@The Costa Mesa, Calif., maker of computer tape drives also projected record revenue for the year of $181 million, up from $122.7 million for the previous year.@@@@1@27@@oe@2-2-2013
21361003@unknown@formal@none@1@S@Archive attributed the gains to strong demand for its products, continued growth of the reseller market and the acquisition of Maynard Electronics in February, which accounted for about 14% of the company's revenue.@@@@1@33@@oe@2-2-2013
21362001@unknown@formal@none@1@S@Detrex Corp. said a reserve it is establishing to cover expected pollution cleanup costs at an Ohio plant reduced its third-quarter net income by $1.9 million.@@@@1@26@@oe@2-2-2013
21362002@unknown@formal@none@1@S@Detrex, which has annual sales of about $100 million, declined to say if it would post a loss in the third quarter.@@@@1@22@@oe@2-2-2013
21362003@unknown@formal@none@1@S@The Southfield, Mich.-based company earned $774,000 in the quarter last year.@@@@1@11@@oe@2-2-2013
21362004@unknown@formal@none@1@S@Detrex is setting aside $3.1 million for the cleanup, but said the reserve reduced its quarterly income by only $1.9 million because of tax considerations.@@@@1@25@@oe@2-2-2013
21362005@unknown@formal@none@1@S@In addition, the manufacturer said it signed a consent decree with Ohio to build a $1.4 million pollution-control facility at the Ashtabula chemical manufacturing plant by Aug. 1, 1990.@@@@1@29@@oe@2-2-2013
21362006@unknown@formal@none@1@S@Detrex said it is one of at least 17 companies notified by the Environmental Protection Agency that they may be potentially responsible for cleaning up the Fields Brook watershed near Detrex's Ashtabula plant at a total cost the EPA estimates at $48 million -- a figure Detrex said the companies dispute.@@@@1@51@@oe@2-2-2013
21363001@unknown@formal@none@1@S@First Executive Corp. said about 96% of the rights to purchase its depositary shares and warrants have been exercised.@@@@1@19@@oe@2-2-2013
21363002@unknown@formal@none@1@S@Of the 17.6 million rights units issued, just under 17 million were exercised before the Oct. 10 expiration of the offering, the insurance holding company said.@@@@1@26@@oe@2-2-2013
21363003@unknown@formal@none@1@S@Remaining units will be sold to the underwriters, Drexel Burnham Lambert Inc. and Kidder, Peabody & Co., which will also purchase an over-allotment of 2.3 million additional units.@@@@1@28@@oe@2-2-2013
21363004@unknown@formal@none@1@S@First Executive said the offering will raise about $299 million -- minus underwriting fees and other expenses -- that the company plans to use to write new life insurance and annuity business.@@@@1@32@@oe@2-2-2013
21363005@unknown@formal@none@1@S@In addition, analysts have viewed the rights offering as a takeover defense that prospectively balloons the number of shares outstanding.@@@@1@20@@oe@2-2-2013
21363006@unknown@formal@none@1@S@Each of the units consists of two warrants, each of which could be used to purchase a half-share of common stock, and one depositary preference share.@@@@1@26@@oe@2-2-2013
21363007@unknown@formal@none@1@S@Depositary shares are convertible into common stock on a 1-to-1 basis.@@@@1@11@@oe@2-2-2013
21363008@unknown@formal@none@1@S@Currently, the company has about 88.1 million common shares outstanding.@@@@1@10@@oe@2-2-2013
21363009@unknown@formal@none@1@S@In over-the-counter trading Monday, the stock closed at $10.625, off 37.5 cents.@@@@1@12@@oe@2-2-2013
21364001@unknown@formal@none@1@S@UNITED AIR'S PARENT quashed any prospects for an immediate revival of the labor-management buy-out, saying UAL should remain independent for now.@@@@1@21@@oe@2-2-2013
21364002@unknown@formal@none@1@S@Also, UAL Chairman Stephen Wolf pulled out of the buy-out effort to focus on running the company.@@@@1@17@@oe@2-2-2013
21364003@unknown@formal@none@1@S@The two developments leave the airline with several problems, including an unsettled labor situation.@@@@1@14@@oe@2-2-2013
21364004@unknown@formal@none@1@S@Stock prices fell and bonds rose as worries mounted about the economy and the junk bond market.@@@@1@17@@oe@2-2-2013
21364005@unknown@formal@none@1@S@The Dow Jones industrials sank 26.23 points, to 2662.91.@@@@1@9@@oe@2-2-2013
21364006@unknown@formal@none@1@S@The dollar also declined.@@@@1@4@@oe@2-2-2013
21364007@unknown@formal@none@1@S@The turmoil in junk bonds may last for years, investors and traders say.@@@@1@13@@oe@2-2-2013
21364008@unknown@formal@none@1@S@Even Drexel is pulling back.@@@@1@5@@oe@2-2-2013
21364009@unknown@formal@none@1@S@Santa Fe Pacific plans to sell 20% of its large real estate unit to a California pension fund for $400 million and spin the rest off to shareholders.@@@@1@28@@oe@2-2-2013
21364010@unknown@formal@none@1@S@The proposal values the company's real estate operation at $2 billion.@@@@1@11@@oe@2-2-2013
21364011@unknown@formal@none@1@S@Time Warner reported a $176 million loss for the third quarter, reflecting the cost of the recent merger and a method of accounting for the deal.@@@@1@26@@oe@2-2-2013
21364012@unknown@formal@none@1@S@Thrifts continued to shed assets in August, mainly to comply with stiffer capital rules under the S&L bailout law.@@@@1@19@@oe@2-2-2013
21364013@unknown@formal@none@1@S@Also, withdrawals exceeded deposits by $5.1 billion in the month.@@@@1@10@@oe@2-2-2013
21364014@unknown@formal@none@1@S@Exxon's profit fell 9% in the third quarter, hurt by sagging results at two of its three main businesses.@@@@1@19@@oe@2-2-2013
21364015@unknown@formal@none@1@S@Phillips and Arco posted declines.@@@@1@5@@oe@2-2-2013
21364016@unknown@formal@none@1@S@Ashland had a loss.@@@@1@4@@oe@2-2-2013
21364017@unknown@formal@none@1@S@Amerada Hess and Occidental Petroleum had gains.@@@@1@7@@oe@2-2-2013
21364018@unknown@formal@none@1@S@Ogilvy's chairman, Kenneth Roman, is leaving to take a top post at American Express.@@@@1@14@@oe@2-2-2013
21364019@unknown@formal@none@1@S@His resignation follows a hostile takeover of the ad agency in May by WPP of Britain.@@@@1@16@@oe@2-2-2013
21364020@unknown@formal@none@1@S@The Justice Department took steps that could restrict the use by prosecutors of criminal racketeering charges against white-collar defendants.@@@@1@19@@oe@2-2-2013
21364021@unknown@formal@none@1@S@Shearson was sued by money manager George Soros, who claimed one of his funds was defrauded out of $60 million during stock-index futures trading just after the 1987 crash.@@@@1@29@@oe@2-2-2013
21364022@unknown@formal@none@1@S@Drexel's efforts to settle its legal troubles are being resisted by at least 10 states.@@@@1@15@@oe@2-2-2013
21364023@unknown@formal@none@1@S@Some may try to revoke the firm's license to sell securities.@@@@1@11@@oe@2-2-2013
21364024@unknown@formal@none@1@S@Prime Computer plans to dismiss 20% of its work force to cut costs following its recent leveraged buy-out.@@@@1@18@@oe@2-2-2013
21364025@unknown@formal@none@1@S@The action renews concern about buyouts in high-tech industries.@@@@1@9@@oe@2-2-2013
21364026@unknown@formal@none@1@S@Paribas plans a bid for another big French financial and industrial firm, Navigation Mixte, a sign Europe's takeover fever hasn't cooled.@@@@1@21@@oe@2-2-2013
21364027@unknown@formal@none@1@S@Qintex Australia unveiled plans to restructure and sell assets to try to ease its financial problems.@@@@1@16@@oe@2-2-2013
21364028@unknown@formal@none@1@S@Union Carbide's earnings plunged 35% in the third quarter, reflecting weakness in the company's core chemicals and plastics businesses.@@@@1@19@@oe@2-2-2013
21364029@unknown@formal@none@1@S@Japan's Daiwa Securities named Masahiro Dozen president.@@@@1@7@@oe@2-2-2013
21364030@unknown@formal@none@1@S@The rapid advance of the 52-year-old executive surprised many at the company.@@@@1@12@@oe@2-2-2013
21364031@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
21364032@unknown@formal@none@1@S@Stocks: Volume 135,860,000 shares.@@@@1@4@@oe@2-2-2013
21364033@unknown@formal@none@1@S@Dow Jones industrials 2662.91, off 26.23; transportation 1236.66, up 5.86; utilities 215.35, off 0.13.@@@@1@14@@oe@2-2-2013
21364034@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3411.08, up@@@@1@8@@oe@2-2-2013
21364035@unknown@formal@none@1@S@Commodities: Dow Jones futures index 129.49, off 0.13; spot index 131.64, up 0.30.@@@@1@13@@oe@2-2-2013
21364036@unknown@formal@none@1@S@Dollar: 141.90 yen, off 0.53; 1.8470 marks, off 0.0108.@@@@1@9@@oe@2-2-2013
21365001@unknown@formal@none@1@S@The Justice Department has revised certain internal guidelines and clarified others in a move that could restrict the use of criminal racketeering charges against white-collar defendants.@@@@1@26@@oe@2-2-2013
21365002@unknown@formal@none@1@S@The most significant changes in department policy are new requirements that federal prosecutors avoid disrupting "the normal business functions" of companies charged under the racketeering law, a senior department official said.@@@@1@31@@oe@2-2-2013
21365003@unknown@formal@none@1@S@Another important revision of department policy is a new guideline warning prosecutors "not to take steps that would harm innocent third parties" in a case brought under the racketeering law, the official, David Runkel, said.@@@@1@35@@oe@2-2-2013
21365004@unknown@formal@none@1@S@The department distributed the revisions and clarifications to U.S. attorneys around the country this summer as part of a routine process of updating prosecutorial guidelines, Mr. Runkel said.@@@@1@28@@oe@2-2-2013
21365005@unknown@formal@none@1@S@The changes apply to prosecutions brought under the Racketeer Influenced and Corrupt Organizations law.@@@@1@14@@oe@2-2-2013
21365006@unknown@formal@none@1@S@Under that law, defendants who allegedly commit a pattern of crimes by means of a "criminal enterprise" may be charged with racketeering and forced to forfeit the proceeds of the enterprise.@@@@1@31@@oe@2-2-2013
21365007@unknown@formal@none@1@S@The RICO law has come under criticism from some defendants and defense lawyers.@@@@1@13@@oe@2-2-2013
21365008@unknown@formal@none@1@S@They argue that the rights of RICO defendants and third parties not named in RICO indictments have been unfairly damaged.@@@@1@20@@oe@2-2-2013
21365009@unknown@formal@none@1@S@The department's most significant clarification of existing RICO policy is a directive to prosecutors that they should seek to seize assets from defendants "in proportion" to the nature of the alleged offense, Mr. Runkel said.@@@@1@35@@oe@2-2-2013
21365010@unknown@formal@none@1@S@"That means that if the offense deals with one part of the business, you don't attempt to seize the whole business; you attempt to seize assets related to the crime," he explained.@@@@1@32@@oe@2-2-2013
21365011@unknown@formal@none@1@S@In general, the thrust of the department's directive is to encourage prosecutors to limit pretrial asset seizures if there are less intrusive means of protecting assets the government may subsequently be able to seize after a conviction, Mr. Runkel said.@@@@1@40@@oe@2-2-2013
21366001@unknown@formal@none@1@S@It was the kind of snubbing rarely seen within the Congress, let alone within the same party.@@@@1@17@@oe@2-2-2013
21366002@unknown@formal@none@1@S@Sen. Alan Cranston trekked over to the House side of Capitol Hill a few days ago and volunteered his testimony to fellow Democrat Rep. Henry Gonzalez.@@@@1@26@@oe@2-2-2013
21366003@unknown@formal@none@1@S@It was offered as an expression of cooperation to Mr. Gonzalez, who is investigating the $2.5 billion failure of Lincoln Savings & Loan Association.@@@@1@24@@oe@2-2-2013
21366004@unknown@formal@none@1@S@But instead of thanks, Sen. Cranston was treated with cool formality.@@@@1@11@@oe@2-2-2013
21366005@unknown@formal@none@1@S@"Every witness receives a formal subpoena," Rep. Gonzalez told him.@@@@1@10@@oe@2-2-2013
21366006@unknown@formal@none@1@S@Seldom have House hearings caused so much apprehension in the Senate, where California Sen. Cranston and four other senators were already writhing in the glare of unfavorable publicity over the alleged looting of Lincoln by their friend and political benefactor, Charles Keating Jr., principal stockholder of Lincoln's parent company, American Continental Corp. of Phoenix, Ariz.@@@@1@55@@oe@2-2-2013
21366007@unknown@formal@none@1@S@At the first day of the House Banking Committee's hearings last week, William Seidman, chairman of the Resolution Trust Corp., the federal agency created to sell sick thrifts, said the agency is investigating whether Lincoln made illegal political contributions.@@@@1@39@@oe@2-2-2013
21366008@unknown@formal@none@1@S@Mr. Keating arranged nearly $1 million in donations to Sen. Cranston and his various political causes, and hundreds of thousands more to other lawmakers.@@@@1@24@@oe@2-2-2013
21366009@unknown@formal@none@1@S@Future witnesses include a former federal S&L regulator who has accused the five senators of attempting to "subvert" the regulatory process by intervening on behalf of Mr. Keating.@@@@1@28@@oe@2-2-2013
21366010@unknown@formal@none@1@S@Unlike many lawmakers, Chairman Gonzalez says he considers intervening with regulators to be improper.@@@@1@14@@oe@2-2-2013
21366011@unknown@formal@none@1@S@"When you reach a point where a policy-making body is trying to shape administrative decisions, then that's a no-no in my book," the Texas lawmaker says.@@@@1@26@@oe@2-2-2013
21366012@unknown@formal@none@1@S@And he has attached himself to the Lincoln story tenaciously.@@@@1@10@@oe@2-2-2013
21366013@unknown@formal@none@1@S@"Unless the questions are answered, I will keep on going."@@@@1@10@@oe@2-2-2013
21366014@unknown@formal@none@1@S@Lawmakers often are reluctant to embarrass colleagues, even those of opposing political parties.@@@@1@13@@oe@2-2-2013
21366015@unknown@formal@none@1@S@In the recent Housing and Urban Development Department scandal, for example, Rep. Thomas Lantos, the California Democrat who led the hearings, tiptoed through embarrassing disclosures about HUD grants secured by Sen. Alfonse D'Amato, a New York Republican.@@@@1@37@@oe@2-2-2013
21366016@unknown@formal@none@1@S@But Chairman Gonzalez is a genuine maverick.@@@@1@7@@oe@2-2-2013
21366017@unknown@formal@none@1@S@He comes from the same political line as Wright Patman, a bank-baiting Texas populist who chaired the Banking Committee until 1974.@@@@1@21@@oe@2-2-2013
21366018@unknown@formal@none@1@S@Mr. Gonzalez is also a stickler for ethical standards who refuses to accept honorariums and who believes in conducting official business in the open.@@@@1@24@@oe@2-2-2013
21366019@unknown@formal@none@1@S@Early in his political career, as a city councilman in San Antonio, he walked out of a meeting when political supporters asked that the police chief be replaced, denouncing the closed-door affair publicly as a "bat-roost meeting."@@@@1@37@@oe@2-2-2013
21366020@unknown@formal@none@1@S@The immediate target of Rep. Gonzalez's inquiry is Danny Wall, chairman of the Office of Thrift Supervision.@@@@1@17@@oe@2-2-2013
21366021@unknown@formal@none@1@S@As the principal regulator of the thrift industry, Mr. Wall delayed seizing Lincoln S&L for more than two years after his staff told him that the California thrift was insolvent and that potential losses to taxpayers were growing rapidly.@@@@1@39@@oe@2-2-2013
21366022@unknown@formal@none@1@S@Rep. Gonzalez seems primed to lash out at Mr. Wall when hearings resume Thursday with testimony by two federal regulators from San Francisco, William Black and Mike Patriarca.@@@@1@28@@oe@2-2-2013
21366023@unknown@formal@none@1@S@Mr. Wall relieved them of responsibility for supervising Lincoln in 1988.@@@@1@11@@oe@2-2-2013
21366024@unknown@formal@none@1@S@Mr. Gonzalez expressed concern over a report that the two had been summoned to Washington by Mr. Wall last week to discuss their testimony in advance.@@@@1@26@@oe@2-2-2013
21366025@unknown@formal@none@1@S@"I think he is trying to improperly influence a witness, and by God I'm not going to tolerate it," he says.@@@@1@21@@oe@2-2-2013
21366026@unknown@formal@none@1@S@Mr. Wall, however, is a self-proclaimed "child of the Senate" and former staff director of its Banking Committee.@@@@1@18@@oe@2-2-2013
21366027@unknown@formal@none@1@S@An inquiry into his handling of Lincoln S&L inevitably will drag in Sen. Cranston and the four others, Sens. Dennis DeConcini (D., Ariz.), John McCain (R., Ariz.), John Glenn (D., Ohio) and Donald Riegle (D., Mich.).@@@@1@36@@oe@2-2-2013
21366028@unknown@formal@none@1@S@They all attended a meeting in April 1987 questioning why a federal audit of Lincoln S&L had dragged on for two years.@@@@1@22@@oe@2-2-2013
21366029@unknown@formal@none@1@S@"I'm certain that in the course of the hearings the names {of the senators} will be brought out," Mr. Gonzalez says.@@@@1@21@@oe@2-2-2013
21366030@unknown@formal@none@1@S@This is raising eyebrows.@@@@1@4@@oe@2-2-2013
21366031@unknown@formal@none@1@S@"When I first got a glimpse at the witness list, I couldn't believe that they were going to go ahead and do this," says Michael Waldman, director of Congress Watch, a consumer group.@@@@1@33@@oe@2-2-2013
21366032@unknown@formal@none@1@S@"There are some witnesses who will be forced to testify about their meetings with senators."@@@@1@15@@oe@2-2-2013
21366033@unknown@formal@none@1@S@And a Democratic aide to a Banking Committee member remarks, "I too am astounded by it, because Gonzalez has certainly placed a lot of Democratic senators in a very bad position."@@@@1@31@@oe@2-2-2013
21366034@unknown@formal@none@1@S@All the senators say they merely were trying to ensure fairness for a constituent.@@@@1@14@@oe@2-2-2013
21366035@unknown@formal@none@1@S@Mr. Keating lives in Phoenix, and the California thrift's parent is an Ohio-chartered corporation with holdings in Michigan.@@@@1@18@@oe@2-2-2013
21366036@unknown@formal@none@1@S@Chairman Gonzalez expresses sympathy for Sen. Riegle, his counterpart as chairman of the Senate Banking Committee.@@@@1@16@@oe@2-2-2013
21366037@unknown@formal@none@1@S@"He's wise, he's good and I know he's an honest man," the Texan says.@@@@1@14@@oe@2-2-2013
21366038@unknown@formal@none@1@S@But at the same time, Mr. Gonzalez hasn't forgotten a confrontation over Mr. Wall during House-Senate negotiations over S&L bailout legislation during the summer.@@@@1@24@@oe@2-2-2013
21366039@unknown@formal@none@1@S@The Senate negotiators included Sens. Cranston and Riegle and Mr. Wall's principal sponsor, Republican Sen. Jake Garn of Utah.@@@@1@19@@oe@2-2-2013
21366040@unknown@formal@none@1@S@They were willing to trade important provisions in the bailout legislation to preserve Mr. Wall's job and to avoid a reconfirmation hearing in which he would be called upon to testify about Lincoln S&L.@@@@1@34@@oe@2-2-2013
21366041@unknown@formal@none@1@S@Most importantly, the Senate traded away the Bush administration's controversial plan to finance the bailout, which was partly reinstated later.@@@@1@20@@oe@2-2-2013
21366042@unknown@formal@none@1@S@At the time, Mr. Gonzalez said several senators told him that they "could get some roadblocks out of the way if there could be some understanding on Garn's insistence on Wall."@@@@1@31@@oe@2-2-2013
21366043@unknown@formal@none@1@S@Now Mr. Gonzalez is holding the equivalent of reconfirmation hearings anyway, under the guise of the Lincoln investigation.@@@@1@18@@oe@2-2-2013
21366044@unknown@formal@none@1@S@"In a way, that's what this is," Mr. Gonzalez concedes.@@@@1@10@@oe@2-2-2013
21366045@unknown@formal@none@1@S@Even some House Banking Committee members could suffer from the fallout.@@@@1@11@@oe@2-2-2013
21366046@unknown@formal@none@1@S@Mr. Keating raised $20,000 for Rep. Doug Barnard's 1986 re-election campaign while the Georgia Democrat was taking his side against regulators who wanted to curb risky investments and wholesale deposit brokering.@@@@1@31@@oe@2-2-2013
21366047@unknown@formal@none@1@S@He recently voted "present" when the committee authorized a subpoena to compel Mr. Keating to testify, then changed his vote to yes.@@@@1@22@@oe@2-2-2013
21366048@unknown@formal@none@1@S@But the chairman's supporters have the upper hand as federal regulators press a $1.1 billion fraud suit against Mr. Keating and others.@@@@1@22@@oe@2-2-2013
21366049@unknown@formal@none@1@S@Rep. Jim Leach (R., Iowa) says the Lincoln S&L affair is "the biggest bank heist in history," and adds: "The great question that remains to be resolved is whether we have a congressional Watergate in the making."@@@@1@37@@oe@2-2-2013
21366050@unknown@formal@none@1@S@A witness set to testify on Thursday was quoted in a news report over the weekend as saying Lincoln "laundered" campaign contributions illegally.@@@@1@23@@oe@2-2-2013
21366051@unknown@formal@none@1@S@But the witness, William Crawford, California's chief state thrift regulator, denies saying that.@@@@1@13@@oe@2-2-2013
21366052@unknown@formal@none@1@S@"I don't know whether it was done properly or not, because I'm not a lawyer," he said in a telephone interview yesterday.@@@@1@22@@oe@2-2-2013
21366053@unknown@formal@none@1@S@But he said he is prepared to testify that executives of Lincoln and its parent corporation got unusually high salaries and frequent calls directing them to make specific contributions.@@@@1@29@@oe@2-2-2013
21366054@unknown@formal@none@1@S@The committee also has summoned Mr. Wall's predecessor, Edwin Gray.@@@@1@10@@oe@2-2-2013
21366055@unknown@formal@none@1@S@He has characterized the five senators' roles as "tantamount to an attempt to subvert the . . . regulatory process," and he isn't expected to back down even though the five senators have disputed his account of a 1987 meeting.@@@@1@40@@oe@2-2-2013
21366056@unknown@formal@none@1@S@So the senators must brace themselves.@@@@1@6@@oe@2-2-2013
21366057@unknown@formal@none@1@S@Sen. Cranston, as he returned to the capital last week from a one-day trip to inspect earthquake damage in San Francisco, sighed to an aide: "Well, back to Keatingland.@@@@1@29@@oe@2-2-2013
21367001@unknown@formal@none@1@S@When Anne Volokh and her family immigrated to the U.S. 14 years ago, they started life in Los Angeles with only $400.@@@@1@22@@oe@2-2-2013
21367002@unknown@formal@none@1@S@They'd actually left the Soviet Union with $480, but during a stop in Italy Ms. Volokh dropped $80 on a black velvet suit.@@@@1@23@@oe@2-2-2013
21367003@unknown@formal@none@1@S@Not surprisingly, she quickly adapted to the American way.@@@@1@9@@oe@2-2-2013
21367004@unknown@formal@none@1@S@Three months after she arrived in L.A. she spent $120 she didn't have for a hat.@@@@1@16@@oe@2-2-2013
21367005@unknown@formal@none@1@S@("A turban," she specifies, "though it wasn't the time for that 14 years ago.@@@@1@14@@oe@2-2-2013
21367006@unknown@formal@none@1@S@But I loved turbans.")@@@@1@4@@oe@2-2-2013
21367007@unknown@formal@none@1@S@Since then she has become wealthy.@@@@1@6@@oe@2-2-2013
21367008@unknown@formal@none@1@S@Her husband and older son -- a computer prodigy profiled in The Wall Street Journal in 1981, when he was 13 -- run a software company with expected sales this year of $10 million.@@@@1@34@@oe@2-2-2013
21367009@unknown@formal@none@1@S@Most recently, she has become the publisher of Movieline, a four-year-old Los Angeles magazine that began national distribution last month, with an initial press run of 100,000 copies.@@@@1@28@@oe@2-2-2013
21367010@unknown@formal@none@1@S@Distributed by the Hearst Corp.'s Eastern News, the glossy publication melds Vanity Fair's gossipy archness and Premiere's earnest delving into behind-the-scenes minutiae, with a special emphasis on Tinseltown as fashion trendsetter.@@@@1@31@@oe@2-2-2013
21367011@unknown@formal@none@1@S@It's being sold through bookstores, newsstands and some video stores.@@@@1@10@@oe@2-2-2013
21367012@unknown@formal@none@1@S@Though Ms. Volokh is a small woman, she has an outsized personality and dramatic flair that seem perfectly suited to capitalism as it is practiced in Hollywood.@@@@1@27@@oe@2-2-2013
21367013@unknown@formal@none@1@S@Certainly life for her has changed considerably since the days in Kiev, when she lived with her parents, her husband and her two sons in a 2 1/2-room apartment in what she calls "silent internal immigration," dreaming of escape.@@@@1@39@@oe@2-2-2013
21367014@unknown@formal@none@1@S@Now, for example, she owns 48 hats.@@@@1@7@@oe@2-2-2013
21367015@unknown@formal@none@1@S@However, she remembers the lean years and recalls with relish wearing her first major American purchase -- that turban10 years later and having a Los Angeles boutique owner ask her if it was a Chanel.@@@@1@35@@oe@2-2-2013
21367016@unknown@formal@none@1@S@With obvious satisfaction, she says she told him: "No darling, I just give it a Chanel look."@@@@1@17@@oe@2-2-2013
21367017@unknown@formal@none@1@S@She keeps track of the rest of her hats by stapling Polaroid snapshots to the outside of each hatbox.@@@@1@19@@oe@2-2-2013
21367018@unknown@formal@none@1@S@Are the hats merely part of her new L.A. persona, along with the many ultra-thin Capri cigarettes she smokes, the parties she throws for 500 people, the Chekovian feasts she offers guests at her weekend place in Santa Barbara?@@@@1@39@@oe@2-2-2013
21367019@unknown@formal@none@1@S@"No, darling," she said recently in her fluent, slightly affected English, during a trip East to promote Movieline's national expansion.@@@@1@20@@oe@2-2-2013
21367020@unknown@formal@none@1@S@"You have to be born with it.@@@@1@7@@oe@2-2-2013
21367021@unknown@formal@none@1@S@I used to wear hats in Russia, but I had to make them and my dresses.@@@@1@16@@oe@2-2-2013
21367022@unknown@formal@none@1@S@On the hat side I wasn't getting what I wanted."@@@@1@10@@oe@2-2-2013
21367023@unknown@formal@none@1@S@Now 48 years old, Ms. Volokh has definite ideas about what she wants.@@@@1@13@@oe@2-2-2013
21367024@unknown@formal@none@1@S@At Movieline, she wants "specific paragraphing, specific tone, a specific attitude -- bright and bold and tongue-in-cheek."@@@@1@17@@oe@2-2-2013
21367025@unknown@formal@none@1@S@In restaurants (in this case, the Russian Samovar, a New York restaurant operated by and for Soviet emigres), she didn't want the chirpy, folkish music bouncing through the room.@@@@1@29@@oe@2-2-2013
21367026@unknown@formal@none@1@S@"You people here think this is Russian music," she said with disdain, and called over to the waitress: "Could you turn it off?"@@@@1@23@@oe@2-2-2013
21367027@unknown@formal@none@1@S@That done, Ms. Volokh spoke with rampant eloquence about the many attributes she feels she was born with: an understanding of food, business, Russian culture, human nature, and parties.@@@@1@29@@oe@2-2-2013
21367028@unknown@formal@none@1@S@"Parties are rather a state of mind," she said, pausing only to taste and pass judgment on the Georgian shashlik ("a little well done, but very good").@@@@1@27@@oe@2-2-2013
21367029@unknown@formal@none@1@S@"If you are born to give parties, you give parties.@@@@1@10@@oe@2-2-2013
21367030@unknown@formal@none@1@S@Even in Russia we managed to give parties.@@@@1@8@@oe@2-2-2013
21367031@unknown@formal@none@1@S@In Los Angeles, in our lean years, we gave parties."@@@@1@10@@oe@2-2-2013
21367032@unknown@formal@none@1@S@As publisher of a magazine devoted to movies as guideposts for fashion and other fantasies, Ms. Volokh sees her party-giving as an important part of business.@@@@1@26@@oe@2-2-2013
21367033@unknown@formal@none@1@S@She has thrown extravagant soirees for crowds of people, but prefers more intimate gatherings.@@@@1@14@@oe@2-2-2013
21367034@unknown@formal@none@1@S@"At American cocktail parties everyone's always looking over your shoulder to see who they can talk to next.@@@@1@18@@oe@2-2-2013
21367035@unknown@formal@none@1@S@I like rather tea, because it is at the end of the day."@@@@1@13@@oe@2-2-2013
21367036@unknown@formal@none@1@S@She serves high Russian tea, at 5 p.m.@@@@1@8@@oe@2-2-2013
21367037@unknown@formal@none@1@S@"It's supposed to be later but I just moved it.@@@@1@10@@oe@2-2-2013
21367038@unknown@formal@none@1@S@In Los Angeles, it's important to catch people just after work."@@@@1@11@@oe@2-2-2013
21367039@unknown@formal@none@1@S@She also frequently invites directors, producers, actors, writers and other show business people for "coffee and clips in the pleasure dome."@@@@1@21@@oe@2-2-2013
21367040@unknown@formal@none@1@S@Guests bring movies on tape, and show their favorite three-to-five minute segments on the screen that unrolls from the ceiling of the Volokhs' art-nouveau library ("the pleasure dome").@@@@1@28@@oe@2-2-2013
21367041@unknown@formal@none@1@S@They eat "sinful and sensual things" -- and explain their clips.@@@@1@11@@oe@2-2-2013
21367042@unknown@formal@none@1@S@"It's very revealing and soul baring," said Ms. Volokh.@@@@1@9@@oe@2-2-2013
21367043@unknown@formal@none@1@S@The idea for Movieline actually was dreamed up by an old friend of the Volokhs, Boris Krutchensky (who has the title of co-publisher), and Laurie Halpern Smith, now the magazine's co-editor.@@@@1@31@@oe@2-2-2013
21367044@unknown@formal@none@1@S@Mr. Krutchensky approached Ms. Volokh five years ago about backing the publication, which started out as a listing guide.@@@@1@19@@oe@2-2-2013
21367045@unknown@formal@none@1@S@She was interested only if she could guide it editorially as well.@@@@1@12@@oe@2-2-2013
21367046@unknown@formal@none@1@S@"Anne doesn't believe in blandness," said Ms. Smith.@@@@1@8@@oe@2-2-2013
21367047@unknown@formal@none@1@S@"She wants things to be exciting.@@@@1@6@@oe@2-2-2013
21367048@unknown@formal@none@1@S@And she has this inexhaustible energy.@@@@1@6@@oe@2-2-2013
21367049@unknown@formal@none@1@S@She'll think of an idea the editorial people think is impossible, then she'll have us make it work."@@@@1@18@@oe@2-2-2013
21367050@unknown@formal@none@1@S@In fact, Ms. Volokh wasn't just a rich lady who needed a hobby.@@@@1@13@@oe@2-2-2013
21367051@unknown@formal@none@1@S@Back in the Soviet Union she was a respected journalist, writing a weekly column about the national cuisine for Sunday Izvestia.@@@@1@21@@oe@2-2-2013
21367052@unknown@formal@none@1@S@Those columns -- vivid discussions of the cultural and literary reverberations of food as well as practical advice on how to glamorize dreary Sovietized meals -- became the basis for her erudite and entertaining cookbook, "The Art of Russian Cuisine," brought out in 1983 by Macmillan Publishing Co.@@@@1@48@@oe@2-2-2013
21367053@unknown@formal@none@1@S@"I don't trust people who don't eat," said Ms. Volokh, though she herself stopped eating lunch a few years ago to drop 25 pounds.@@@@1@24@@oe@2-2-2013
21367054@unknown@formal@none@1@S@"Look at Dostoevski and Kafka.@@@@1@5@@oe@2-2-2013
21367055@unknown@formal@none@1@S@No one ever eats in their books and look at them. . . .@@@@1@14@@oe@2-2-2013
21367056@unknown@formal@none@1@S@Tolstoy's characters eat, Pushkin's, Gogol's."@@@@1@5@@oe@2-2-2013
21367057@unknown@formal@none@1@S@In her cookbook, which Macmillan is bringing out in soft cover this month (with the blini recipe revised so it works), she introduces each chapter with appropriate quotations from Russian literature: Pushkin on blini, Goncharov on piroghi.@@@@1@37@@oe@2-2-2013
21367058@unknown@formal@none@1@S@In life, she offers practical dieting advice: "Divide your meals into important and unimportant.@@@@1@14@@oe@2-2-2013
21367059@unknown@formal@none@1@S@In a great restaurant, don't deprive yourself.@@@@1@7@@oe@2-2-2013
21367060@unknown@formal@none@1@S@The other meals don't matter."@@@@1@5@@oe@2-2-2013
21367061@unknown@formal@none@1@S@Amusing as she is, and frivolous as she can seem, this is a serious person with some difficult memories.@@@@1@19@@oe@2-2-2013
21367062@unknown@formal@none@1@S@She was the child of relative privilege.@@@@1@7@@oe@2-2-2013
21367063@unknown@formal@none@1@S@Her mother was a translator; her father was "the eternal vice director."@@@@1@12@@oe@2-2-2013
21367064@unknown@formal@none@1@S@"I emigrated to wear better hats, do better parties," she said with a giggle.@@@@1@14@@oe@2-2-2013
21367065@unknown@formal@none@1@S@"But we shouldn't leave out political reasons, number one.@@@@1@9@@oe@2-2-2013
21367066@unknown@formal@none@1@S@You try to maintain your dignity under difficult circumstances.@@@@1@9@@oe@2-2-2013
21367067@unknown@formal@none@1@S@One cannot imagine how you live when you live those double and triple lives."@@@@1@14@@oe@2-2-2013
21367068@unknown@formal@none@1@S@By 1973, after their second child was born, it had become clear to Ms. Volokh and her husband Vladimir, a computer scientist, that they wanted to leave the U.S.S.R.@@@@1@29@@oe@2-2-2013
21367069@unknown@formal@none@1@S@Ms. Volokh quit her job, to remove herself from the public eye.@@@@1@12@@oe@2-2-2013
21367070@unknown@formal@none@1@S@The wait was miserable.@@@@1@4@@oe@2-2-2013
21367071@unknown@formal@none@1@S@Before granting Ms. Volokh's parents a visa, the government required her mother to obtain permission from her first husband, whom she had divorced 38 years earlier.@@@@1@26@@oe@2-2-2013
21367072@unknown@formal@none@1@S@Mr. Volokh was fired from his job, and had to endure hours of organized verbal abuse from his co-workers, accusations of sabotage and counterrevolutionary activities.@@@@1@25@@oe@2-2-2013
21367073@unknown@formal@none@1@S@The Volokhs were afraid that they'd end up like a friend of theirs who'd applied for a visa and waited for 10 years, having been demoted from his profession of theoretical mathematician to shipping clerk.@@@@1@35@@oe@2-2-2013
21367074@unknown@formal@none@1@S@They didn't.@@@@1@2@@oe@2-2-2013
21367075@unknown@formal@none@1@S@Their visa came in relatively short order, and they moved to Los Angeles.@@@@1@13@@oe@2-2-2013
21367076@unknown@formal@none@1@S@Mr. Volokh soon found work in his field, but Ms. Volokh refused the obvious and available occupation-as translatorfor a Russian who spoke fluent English.@@@@1@24@@oe@2-2-2013
21367077@unknown@formal@none@1@S@"That's always looking back," she said.@@@@1@6@@oe@2-2-2013
21367078@unknown@formal@none@1@S@"I wanted to be in business."@@@@1@6@@oe@2-2-2013
21367079@unknown@formal@none@1@S@On the way to that goal, she received her first U.S. paycheck for proofreading a book of Polish poetry, attended secretarial school, then went to work for a fund-raising organization.@@@@1@30@@oe@2-2-2013
21367080@unknown@formal@none@1@S@Soon she was running the office.@@@@1@6@@oe@2-2-2013
21367081@unknown@formal@none@1@S@When her husband and son founded their computer company, Vesoft, she worked as business manager, bookkeeper and publicist.@@@@1@18@@oe@2-2-2013
21367082@unknown@formal@none@1@S@Now Movieline is located in the same building as Vesoft.@@@@1@10@@oe@2-2-2013
21367083@unknown@formal@none@1@S@"Things work out unexpectedly in life," said Ms. Volokh.@@@@1@9@@oe@2-2-2013
21367084@unknown@formal@none@1@S@"You never know if you'll be chosen to be the scapegoat or the lucky one.@@@@1@15@@oe@2-2-2013
21367085@unknown@formal@none@1@S@We were lucky.@@@@1@3@@oe@2-2-2013
21368001@unknown@formal@none@1@S@William D. Forrester, president of the U.S.-U.S.S.R. Trade and Economic Council, has a warning for U.S. companies trying to do business in the Soviet Union.@@@@1@25@@oe@2-2-2013
21368002@unknown@formal@none@1@S@"It's an extremely complex market, and you have to be prepared to make a big commitment," Mr. Forrester says.@@@@1@19@@oe@2-2-2013
21368003@unknown@formal@none@1@S@"We are not trying to encourage everyone."@@@@1@7@@oe@2-2-2013
21368004@unknown@formal@none@1@S@Undeterred by such words of caution, corporate America is flocking to Moscow, lured by a huge untapped market and Mikhail Gorbachev's attempt to overhaul the Soviet economy.@@@@1@27@@oe@2-2-2013
21368005@unknown@formal@none@1@S@Doing business with the Russians, once the pursuit of a handful of hardened veterans, has become the goal of such major companies as General Motors Corp., Federal Express Corp. and Procter & Gamble Co., as well as a cluster of smaller firms.@@@@1@42@@oe@2-2-2013
21368006@unknown@formal@none@1@S@Reflecting the new-found interest, more than 140 U.S. companies are taking part in a Moscow exhibition organized by Mr. Forrester's trade group.@@@@1@22@@oe@2-2-2013
21368007@unknown@formal@none@1@S@But while U.S. interest may be big and growing, the difficulties that have stymied deals in the past show no sign of abating.@@@@1@23@@oe@2-2-2013
21368008@unknown@formal@none@1@S@Alongside the old problems of a non-convertible currency and an inpenetrable bureaucracy, Western business executives must now grapple with new complexities linked to perestroika, the restructuring of the Soviet economy.@@@@1@30@@oe@2-2-2013
21368009@unknown@formal@none@1@S@Executives say Mr. Gorbachev's moves to break up the government's foreign trade monopoly have created uncertainties as well as opportunities.@@@@1@20@@oe@2-2-2013
21368010@unknown@formal@none@1@S@Changing legislation has opened the field to thousands of inexperienced Soviet players, many who promise more than they can deliver.@@@@1@20@@oe@2-2-2013
21368011@unknown@formal@none@1@S@And some foreign firms are finding that even when they manage to overcome such hurdles, their ventures now have to be endorsed by such unpredictable bodies as the Soviet parliament and the governments of the nation's republics.@@@@1@37@@oe@2-2-2013
21368012@unknown@formal@none@1@S@"You have to go out to all your constituents," says James H. Giffen, who is spearheading the most ambitious attempt by U.S. firms to break into the Soviet market, involving investment of more than $5 billion in some two dozen joint ventures.@@@@1@42@@oe@2-2-2013
21368013@unknown@formal@none@1@S@As part of that attempt, by the American Trade Consortium, Mr. Giffen says he spends a lot of time lobbying.@@@@1@20@@oe@2-2-2013
21368014@unknown@formal@none@1@S@Growing public fears about the Soviet environment is one new factor affecting some joint-venture plans.@@@@1@15@@oe@2-2-2013
21368015@unknown@formal@none@1@S@Over the past two years, Soviet ministries have been talking to international firms, including Occidental Petroleum Co. and Combustion Engineering Inc. of the U.S., Montedison S.p.A. of Italy and several Japanese groups, about jointly building and operating several big petrochemical plants.@@@@1@41@@oe@2-2-2013
21368016@unknown@formal@none@1@S@The plans have come under fire from Soviet environmentalists, and officials say many are likely to be scaled back or dropped.@@@@1@21@@oe@2-2-2013
21368017@unknown@formal@none@1@S@Whatever the difficulties, Mr. Gorbachev remains committed to increasing foreign trade.@@@@1@11@@oe@2-2-2013
21368018@unknown@formal@none@1@S@For political as well as economic reasons, U.S. companies are at the top of his priorities -- a point he underscored by spending two hours walking around the U.S. trade show last week.@@@@1@33@@oe@2-2-2013
21368019@unknown@formal@none@1@S@Talking to a small group of U.S. executives afterwards, Mr. Gorbachev appeared impatient for a big expansion in U.S.-Soviet trade, which now amounts to a meager $3 billion annually.@@@@1@29@@oe@2-2-2013
21368020@unknown@formal@none@1@S@The U.S. ranks fourth of countries that have concluded joint ventures, behind West Germany, Finland and Italy.@@@@1@17@@oe@2-2-2013
21368021@unknown@formal@none@1@S@According to several people present at the meeting, Mr. Gorbachev also supported the idea of concluding several commercial accords with the U.S., possibly at his next summit meeting with President Bush.@@@@1@31@@oe@2-2-2013
21368022@unknown@formal@none@1@S@Judging by the crush at the exhibition, deprived Soviet consumers are more than ready for U.S. products.@@@@1@17@@oe@2-2-2013
21368023@unknown@formal@none@1@S@Hundreds of people lined up every day at the Colgate-Palmolive Co. stand to receive a free tube of toothpaste, a commodity in chronically short supply here.@@@@1@26@@oe@2-2-2013
21368024@unknown@formal@none@1@S@And unruly crowds at RJR Nabisco Inc.'s booth almost knocked over a glass showcase in the rush to get a free Camel cigarette sticker.@@@@1@24@@oe@2-2-2013
21368025@unknown@formal@none@1@S@Some U.S. products are filtering into the Soviet market under an emergency import program.@@@@1@14@@oe@2-2-2013
21368026@unknown@formal@none@1@S@Both Colgate and Procter & Gamble have received big orders for toothpaste, soap and detergents.@@@@1@15@@oe@2-2-2013
21368027@unknown@formal@none@1@S@The American Trade Consortium says it is planning to ship some $500 million of consumer goods, financed by bank credits, in the first few months of next year.@@@@1@28@@oe@2-2-2013
21368028@unknown@formal@none@1@S@But the current Soviet purchasing spree may be a one-time affair.@@@@1@11@@oe@2-2-2013
21368029@unknown@formal@none@1@S@The goal of most U.S. firms -- joint ventures -- remains elusive.@@@@1@12@@oe@2-2-2013
21368030@unknown@formal@none@1@S@Because the Soviet ruble isn't convertible into dollars, marks and other Western currencies, companies that hope to set up production facilities here must either export some of the goods to earn hard currency or find Soviet goods they can take in a counter-trade transaction.@@@@1@44@@oe@2-2-2013
21368031@unknown@formal@none@1@S@International competition for the few Soviet goods that can be sold on world markets is heating up, however.@@@@1@18@@oe@2-2-2013
21368032@unknown@formal@none@1@S@Shelley M. Zeiger, an entrepreneur from New Jersey who buys Soviet porcelain and "matryoshka" nesting dolls for export to the U.S., says West German companies already have snapped up much of the production of these items.@@@@1@36@@oe@2-2-2013
21368033@unknown@formal@none@1@S@Seeking to overcome the currency problems, Mr. Giffen's American Trade Consortium, which comprises Chevron Corp., RJR, Johnson & Johnson, Eastman Kodak Co., and Archer-Daniels-Midland Co., has concocted an elaborate scheme to share out dollar earnings, largely from the revenues of a planned Chevron oil project.@@@@1@45@@oe@2-2-2013
21368034@unknown@formal@none@1@S@Several medical concerns, including Pfizer Inc., Hewlett-Packard Co., Colgate and Abbott Laboratories intend to pursue a similar consortium approach.@@@@1@19@@oe@2-2-2013
21368035@unknown@formal@none@1@S@"It's hard to invest capital here on the same basis as investing in other countries," says Dennis A. Sokol, president of Medical Service Partners Inc., who is putting the medical consortium together.@@@@1@32@@oe@2-2-2013
21368036@unknown@formal@none@1@S@Some U.S. entrepreneurs operate on a smaller scale.@@@@1@8@@oe@2-2-2013
21368037@unknown@formal@none@1@S@One group seeks to publish a U.S.-Soviet medical journal in conjunction with the U.S.S.R. Ministry of Health.@@@@1@17@@oe@2-2-2013
21368038@unknown@formal@none@1@S@According to Richard P. Mills, a Boston-based official of the U.S. partner, 10,000 copies of the quarterly will be printed in Russian from next year.@@@@1@25@@oe@2-2-2013
21368039@unknown@formal@none@1@S@It will be financed by advertisements from U.S. companies and by simultaneous publication of an English-language journal containing details of Soviet medical advancements.@@@@1@23@@oe@2-2-2013
21368040@unknown@formal@none@1@S@"We found a market niche," Mr. Mills boasts.@@@@1@8@@oe@2-2-2013
21368041@unknown@formal@none@1@S@"It's truly entrepreneurial.@@@@1@3@@oe@2-2-2013
21369001@unknown@formal@none@1@S@General Electric Co. was given an $89.6 million Navy contract for nuclear propulsion parts.@@@@1@14@@oe@2-2-2013
21369002@unknown@formal@none@1@S@Westinghouse Electric Corp. also won a $75.5 million Navy contract for nuclear propulsion parts.@@@@1@14@@oe@2-2-2013
21369003@unknown@formal@none@1@S@Federal Data Corp. was issued a $14.5 million Navy contract for computer systems.@@@@1@13@@oe@2-2-2013
21369004@unknown@formal@none@1@S@American Telephone & Telegraph Co. was awarded an $11.5 million Navy contract for oceanographic services.@@@@1@15@@oe@2-2-2013
21370001@unknown@formal@none@1@S@Cray Research Inc. said it sold one of its newest and largest computer systems, the Cray Y-MP/832, to the United Kingdom Meteorological Office.@@@@1@23@@oe@2-2-2013
21370002@unknown@formal@none@1@S@The system is the first to be sold through the joint marketing agreement between Cray and Control Data Corp.@@@@1@19@@oe@2-2-2013
21370003@unknown@formal@none@1@S@The supercomputer, which lists for $18.5 million, will be installed in the first quarter of 1990 in the meteorological office's headquarters in Bracknell, England.@@@@1@24@@oe@2-2-2013
21371001@unknown@formal@none@1@S@Shareholders of Nuovo Banco Ambrosiano S.p.A. voted to accept a bid of 5,500 lire ($4.03) a share by France's Credit Agricole for 13.32% of the bank, rejecting an earlier, equal offer by Italy's Assicurazioni Generali S.p.A.@@@@1@36@@oe@2-2-2013
21371002@unknown@formal@none@1@S@The move will give Nuovo Banco a badly needed foreign presence, and make Credit Agricole the bank's largest shareholder.@@@@1@19@@oe@2-2-2013
21371003@unknown@formal@none@1@S@It also opens a rift in the bank's shareholders' syndicate that could lead to a battle for control of the concern.@@@@1@21@@oe@2-2-2013
21371004@unknown@formal@none@1@S@Nuovo Banco will become Italy's biggest private-sector bank when it completes its scheduled merger with Banca Cattolica del Venetoen by year end.@@@@1@22@@oe@2-2-2013
21371005@unknown@formal@none@1@S@Credit Agricole asked a Milan court to sequester the Nuovo Banco shares, the Italian news agency ANSA reported.@@@@1@18@@oe@2-2-2013
21371006@unknown@formal@none@1@S@The tribunal is scheduled to rule on the request Friday.@@@@1@10@@oe@2-2-2013
21371007@unknown@formal@none@1@S@No reason for the request was given.@@@@1@7@@oe@2-2-2013
21371008@unknown@formal@none@1@S@Credit Agricole officials couldn't be immediately reached for comment.@@@@1@9@@oe@2-2-2013
21371009@unknown@formal@none@1@S@The decision to accept Credit Agricole's bid, valued at 283.3 billion lire ($207.4 million), came after a stormy weekend meeting.@@@@1@20@@oe@2-2-2013
21371010@unknown@formal@none@1@S@Nuovo Banco's second largest shareholder, the Fiat S.p.A.-controlled investment concern, Gemina S.p.A., fought to have Generali's offer approved.@@@@1@18@@oe@2-2-2013
21371011@unknown@formal@none@1@S@Gemina, which owns 13.26% of Nuovo Banco, abstained in the final vote on Credit Agricole, which was nonetheless approved by a majority of shareholders.@@@@1@24@@oe@2-2-2013
21371012@unknown@formal@none@1@S@The linkup with Credit Agricole will give Nuovo Banco its first foreign presence since it was formed from the wreck of the old Banco Ambrosiano, which collapsed amid scandal after the death of Chairman Roberto Calvi in 1982.@@@@1@38@@oe@2-2-2013
21371013@unknown@formal@none@1@S@Since then, the bank has strengthened its Italian network, and has posted strong results.@@@@1@14@@oe@2-2-2013
21371014@unknown@formal@none@1@S@"The shareholders felt we needed a foreign presence more than we needed links with an insurance company," an Ambrosiano spokeswoman said.@@@@1@21@@oe@2-2-2013
21371015@unknown@formal@none@1@S@Gemina said in a statement that "it reserves the right to take any action to protect its rights as a member of the syndicate."@@@@1@24@@oe@2-2-2013
21371016@unknown@formal@none@1@S@A company spokeswoman said the company hadn't decided what measures to take, but didn't rule out legal action.@@@@1@18@@oe@2-2-2013
21371017@unknown@formal@none@1@S@Generali, Italy's biggest insurer, last month offered 5,500 lire a share for the Nuovo Banco stake held by Banco Popolare di Milano, the bank's largest shareholder, which announced plans to sell the holdings earlier this year.@@@@1@36@@oe@2-2-2013
21371018@unknown@formal@none@1@S@A Generali spokesman declined to comment on Nuovo Banco's rejection of the insurer's offer.@@@@1@14@@oe@2-2-2013
21371019@unknown@formal@none@1@S@On the Milan stock exchange, Nuovo Banco's shares jumped to 4,830 lire each from 4,695 lire Friday.@@@@1@17@@oe@2-2-2013
21372001@unknown@formal@none@1@S@Qintex Australia Ltd., a media and resorts concern controlled by Australian entrepreneur Christopher Skase, announced a plan to restructure and sell assets to try to ease its financial problems.@@@@1@29@@oe@2-2-2013
21372002@unknown@formal@none@1@S@Mr. Skase, a 41-year-old former newspaper reporter who chairs the company, said in a statement that Qintex will sell its 51% stake in its upscale Mirage resorts in Australia and Hawaii as well as three Australian television stations.@@@@1@38@@oe@2-2-2013
21372003@unknown@formal@none@1@S@The sales are expected to raise more than 600 million Australian dollars (US$462.2 million), Mr. Skase said.@@@@1@17@@oe@2-2-2013
21372004@unknown@formal@none@1@S@Qintex Australia hasn't disclosed its borrowings, but analysts estimate the company's debt at A$1.2 billion.@@@@1@15@@oe@2-2-2013
21372005@unknown@formal@none@1@S@Mr. Skase also said the restructuring plan calls for the merger of Qintex Australia with Qintex Ltd., which owns 55% of Qintex Australia.@@@@1@23@@oe@2-2-2013
21372006@unknown@formal@none@1@S@He said the move will "significantly reduce administrative and operating costs," but he didn't provide details of the merger.@@@@1@19@@oe@2-2-2013
21372007@unknown@formal@none@1@S@Company officials said over the weekend that Qintex Australia's bank creditors have become concerned about a barrage of bad news at the company, including a failed US$1.5 billion plan to buy MGM/UA Communications Co., a Beverly Hills, Calif., movie and television production concern.@@@@1@43@@oe@2-2-2013
21372008@unknown@formal@none@1@S@Friday, Qintex Entertainment Inc., a 43%-owned U.S. affiliate, filed for protection from creditor lawsuits under Chapter 11 of the U.S. Bankruptcy Code.@@@@1@22@@oe@2-2-2013
21372009@unknown@formal@none@1@S@Analysts predicted that the move would further shake creditor confidence in Qintex Australia and force it to sell assets.@@@@1@19@@oe@2-2-2013
21372010@unknown@formal@none@1@S@The company's latest moves were disclosed after the Australian Stock Exchange suspended trading in shares of Qintex Australia and Qintex Ltd. because the companies hadn't answered an exchange inquiry about the extent of their loans, investments and deposits at Qintex Entertainment.@@@@1@41@@oe@2-2-2013
21372011@unknown@formal@none@1@S@Mr. Skase's statement was addressed to the stock exchange and appeared to be a response to the inquiry.@@@@1@18@@oe@2-2-2013
21372012@unknown@formal@none@1@S@It said Qintex Entertainment owes Qintex Australia US$38.1 million in loans not secured by specific assets.@@@@1@16@@oe@2-2-2013
21372013@unknown@formal@none@1@S@Qintex Australia also said it has an investment of A$83.3 million in Qintex Entertainment shares.@@@@1@15@@oe@2-2-2013
21372014@unknown@formal@none@1@S@In the statement, Mr. Skase said that on the basis of current interest rates in Australia, the company's asset sales would reduce interest expense by about A$120 million a year in addition to eliminating certain liabilities.@@@@1@36@@oe@2-2-2013
21372015@unknown@formal@none@1@S@In March, Qintex sold 49% of the three Mirage resorts to Japan's Nippon Shinpan Co. and Mitsui & Co. for A$433 million.@@@@1@22@@oe@2-2-2013
21372016@unknown@formal@none@1@S@Yesterday's statement didn't say whether the Japanese companies will acquire Qintex's remaining stake in the resorts.@@@@1@16@@oe@2-2-2013
21372017@unknown@formal@none@1@S@Before its shares were suspended from trading, Qintex Australia plunged to 16 Australian cents (12 U.S. cents) a share yesterday from 33 Australian cents Friday.@@@@1@25@@oe@2-2-2013
21372018@unknown@formal@none@1@S@The shares traded at about A$1.50 in March, when the plan to acquire MGM/UA was announced.@@@@1@16@@oe@2-2-2013
21372019@unknown@formal@none@1@S@Qintex Ltd. shares sank to A$1.50 yesterday from A$3.05 Friday.@@@@1@10@@oe@2-2-2013
21372020@unknown@formal@none@1@S@Mr. Skase's statement cited four recent problems that he said had cut group cash flow by more than A$200 million.@@@@1@20@@oe@2-2-2013
21372021@unknown@formal@none@1@S@They were what he called an "unlawful termination" by MGM/UA of the acquisition agreement with Qintex, high Australian interest rates, a pilots' strike at Australian domestic airlines that cut revenue at the company's Australian resorts and delays in completing a sale of two regional TV stations in Queensland state.@@@@1@49@@oe@2-2-2013
21372022@unknown@formal@none@1@S@MGM/UA has sued Qintex Australia for breach of contract and fraud over the collapsed acquisition agreement, and Qintex Australia has threatened a countersuit.@@@@1@23@@oe@2-2-2013
21372023@unknown@formal@none@1@S@Qintex Australia hasn't yet reported results for the fiscal year ended July 31.@@@@1@13@@oe@2-2-2013
21372024@unknown@formal@none@1@S@In his statement, Mr. Skase said preliminary accounts showed that group profit before interest, tax and depreciation "will exceed A$170 million."@@@@1@21@@oe@2-2-2013
21372025@unknown@formal@none@1@S@He gave no further details.@@@@1@5@@oe@2-2-2013
21372026@unknown@formal@none@1@S@Shareholders' funds as of July 31 were estimated at more than A$1 billion, Mr. Skase said, compared with A$725 million a year earlier.@@@@1@23@@oe@2-2-2013
21372027@unknown@formal@none@1@S@The company will make "adequate provisions" to cover costs of the dispute with MGM/UA and any loss from the investment in Qintex Entertainment, he said.@@@@1@25@@oe@2-2-2013
21372028@unknown@formal@none@1@S@Mr. Skase also disclosed a disagreement among directors of Qintex Australia over certain fees claimed by Qintex Group Management Services Pty., a management-services concern in which Qintex Australia executives have an interest.@@@@1@32@@oe@2-2-2013
21372029@unknown@formal@none@1@S@Qintex Australia paid the management company A$32.6 million in the latest fiscal year.@@@@1@13@@oe@2-2-2013
21372030@unknown@formal@none@1@S@Mr. Skase said most of the money went to other parties for expenses such as rent and travel, but a smaller portion is owed to senior executives and others for management services.@@@@1@32@@oe@2-2-2013
21372031@unknown@formal@none@1@S@Non-executive directors of Qintex Australia, who must approve payments to the senior executives, balked at the amount.@@@@1@17@@oe@2-2-2013
21372032@unknown@formal@none@1@S@Two of the directors resigned, Mr. Skase said, so the payments haven't yet been approved.@@@@1@15@@oe@2-2-2013
21373001@unknown@formal@none@1@S@Chip's Memory Is Here Today, Here Tomorrow@@@@1@7@@oe@2-2-2013
21373002@unknown@formal@none@1@S@TWO COMPANIES plan to market a new chip with ceramic circuits that store data even when the power is off.@@@@1@20@@oe@2-2-2013
21373003@unknown@formal@none@1@S@Today's most widely used data-storing chips have "volatile" memories -- their data disappear if they aren't fed a steady diet of electricity, so they need external power supplies.@@@@1@28@@oe@2-2-2013
21373004@unknown@formal@none@1@S@National Semiconductor Corp. and a start-up named Ramtron Corp. plan to start shipping so-called ferroelectric memories, which can remember data for at least 10 years without any current flowing to them.@@@@1@31@@oe@2-2-2013
21373005@unknown@formal@none@1@S@The chips use materials, such as lead zirconate titanate, to form microscopic switches that retain their data without electricity.@@@@1@19@@oe@2-2-2013
21373006@unknown@formal@none@1@S@Developers caution that broad applications are several years away because the technology isn't fully refined.@@@@1@15@@oe@2-2-2013
21373007@unknown@formal@none@1@S@But Ramtron of Colorado Springs, Colo., plans to start shipping commercial quantities of simple ferroelectric chips in December.@@@@1@18@@oe@2-2-2013
21373008@unknown@formal@none@1@S@The company expects the chips eventually to be used in devices that mimic a whole range of computer memory equipment, including floppy-disk and hard-disk drives.@@@@1@25@@oe@2-2-2013
21373009@unknown@formal@none@1@S@National Semiconductor is getting ferroelectric technology from Krysalis Corp. in Albuquerque, N.M.@@@@1@12@@oe@2-2-2013
21373010@unknown@formal@none@1@S@National says it agreed to acquire Krysalis's assets and will start shipping commercial quantities of its first chips, including a 4-kilobit memory, next year.@@@@1@24@@oe@2-2-2013
21373011@unknown@formal@none@1@S@Once production hurdles are overcome, the chips could take over a significant part of the market.@@@@1@16@@oe@2-2-2013
21373012@unknown@formal@none@1@S@In addition to not needing an outside power source, they are potentially cheaper to make because they require fewer manufacturing steps than conventional chips.@@@@1@24@@oe@2-2-2013
21373013@unknown@formal@none@1@S@Military buyers have shown interest, National says, because ferroelectric chips resist atomic radiation.@@@@1@13@@oe@2-2-2013
21373014@unknown@formal@none@1@S@And while today's non-volatile chips -- such as electronically erasable programmable read-only memory chips -- can't be used in a computer's central memory because they "learn" data slowly, ferroelectric chips accept data at very high speeds.@@@@1@36@@oe@2-2-2013
21373015@unknown@formal@none@1@S@Showing Up in Court Without Being There@@@@1@7@@oe@2-2-2013
21373016@unknown@formal@none@1@S@AN AUSTIN, Texas, company plans to make it easy for you show up in court a thousand miles away without leaving town.@@@@1@22@@oe@2-2-2013
21373017@unknown@formal@none@1@S@Witnesses often must travel long distances to give face-to-face depositions before lawyers and court reporters.@@@@1@15@@oe@2-2-2013
21373018@unknown@formal@none@1@S@That means huge travel bills.@@@@1@5@@oe@2-2-2013
21373019@unknown@formal@none@1@S@And telephone or videotape depositions just don't match physical encounters.@@@@1@10@@oe@2-2-2013
21373020@unknown@formal@none@1@S@That could change, thanks to lower long-distance rates and cheaper electronics.@@@@1@11@@oe@2-2-2013
21373021@unknown@formal@none@1@S@Video Telecom Corp., which markets videoconferencing systems, is working with court reporters to wire a nationwide network to allow depositions by live television.@@@@1@23@@oe@2-2-2013
21373022@unknown@formal@none@1@S@The company installed a prototype system that connects Dallas with Miami over digital phone lines.@@@@1@15@@oe@2-2-2013
21373023@unknown@formal@none@1@S@And it is preparing to set up shop in Chicago, New York and 10 other cities where court-reporting agencies can tie conference rooms into the network.@@@@1@26@@oe@2-2-2013
21373024@unknown@formal@none@1@S@While lawyers arranged individual tie-ups before, the formal network of court reporters should make things easier and cheaper.@@@@1@18@@oe@2-2-2013
21373025@unknown@formal@none@1@S@An attorney will be able to use the network for an hourly fee of between $200 and $400, depending on the quality of the picture, to take depositions from witnesses in any of the connected cities.@@@@1@36@@oe@2-2-2013
21373026@unknown@formal@none@1@S@Japanese Reverse Tack On Patent Protection@@@@1@6@@oe@2-2-2013
21373027@unknown@formal@none@1@S@JAPAN'S MISUSE of U.S. patents has been a sore point for American chip makers.@@@@1@14@@oe@2-2-2013
21373028@unknown@formal@none@1@S@Now at least one Japanese company is turning the courtroom tables.@@@@1@11@@oe@2-2-2013
21373029@unknown@formal@none@1@S@Until now, most Japanese charges have been responses to suits against them.@@@@1@12@@oe@2-2-2013
21373030@unknown@formal@none@1@S@But last year Hitachi Ltd. surprised Japan's electronics industry when it accused Korea's Samsung Electronics Co. of using Hitachi technology to make dynamic random-access memory chips.@@@@1@26@@oe@2-2-2013
21373031@unknown@formal@none@1@S@(A settlement was reached but wasn't made public.)@@@@1@8@@oe@2-2-2013
21373032@unknown@formal@none@1@S@And Hitachi went on the offensive against the U.S.'s Motorola Inc. earlier this month with a suit charging that Motorola's new MC88200 chip infringes on a Hitachi patent.@@@@1@28@@oe@2-2-2013
21373033@unknown@formal@none@1@S@Another recent Hitachi suit accuses Motorola of reverse engineering a Hitachi technology -- a turnabout from a nation of champion reverse engineers.@@@@1@22@@oe@2-2-2013
21373034@unknown@formal@none@1@S@The moves illustrate the more aggressive attitude toward patent protection that patent experts say Japan is starting to take.@@@@1@19@@oe@2-2-2013
21373035@unknown@formal@none@1@S@Hitachi made the reverse-engineering charges in an amendment to a counterclaim filed in a federal district court in Texas after Motorola sued Hitachi for patent violation.@@@@1@26@@oe@2-2-2013
21373036@unknown@formal@none@1@S@Hitachi charges Motorola "has engaged in fraudulent and inequitable conduct in the procurement of certain Motorola patents" used in Motorola's MC68030 microprocessor chip.@@@@1@23@@oe@2-2-2013
21373037@unknown@formal@none@1@S@Translation: Motorola appears to have taken a Hitachi technology that is patented in the U.S., Hitachi says, and "tried to make it look like a new technology."@@@@1@27@@oe@2-2-2013
21373038@unknown@formal@none@1@S@Motorola either denied or wouldn't comment on the various charges.@@@@1@10@@oe@2-2-2013
21373039@unknown@formal@none@1@S@Odds and Ends@@@@1@3@@oe@2-2-2013
21373040@unknown@formal@none@1@S@COMPUTER chips that simulate human vision have been developed by Japan's Sharp Corp.@@@@1@13@@oe@2-2-2013
21373041@unknown@formal@none@1@S@They mimic the brain by "looking" at an image, extracting the fundamentals -- boundaries, corners and lines -- and translating them into computer data.@@@@1@24@@oe@2-2-2013
21373042@unknown@formal@none@1@S@Sharp says the set of chips could improve fax machines, graphics computers or identification systems that recognize facial features. . . .@@@@1@22@@oe@2-2-2013
21373043@unknown@formal@none@1@S@An N.V. Philips unit has created a computer system that processes video images 3,000 times faster than conventional systems.@@@@1@19@@oe@2-2-2013
21373044@unknown@formal@none@1@S@Using reduced instruction-set computing, or RISC, chips made by Intergraph of Huntsville, Ala., the system splits the image it "sees" into 20 digital representations, each processed by one chip.@@@@1@29@@oe@2-2-2013
21374001@unknown@formal@none@1@S@Tandy Corp., citing sluggish sales of consumer-electronics goods, said net income dropped 3.3% for the first quarter ended Sept. 30.@@@@1@20@@oe@2-2-2013
21374002@unknown@formal@none@1@S@The results, which represented the fifth consecutive quarter of flat-to-lower earnings for the big electronics retailer, disappointed analysts and traders.@@@@1@20@@oe@2-2-2013
21374003@unknown@formal@none@1@S@Tandy's stock fell $1.375 a share to close at $44 in New York Stock Exchange composite trading.@@@@1@17@@oe@2-2-2013
21374004@unknown@formal@none@1@S@Net for the quarter was $62.8 million, or 73 cents a share, down from $64.9 million, or 72 cents a share, a year earlier.@@@@1@24@@oe@2-2-2013
21374005@unknown@formal@none@1@S@The company said earnings would have increased if it hadn't been actively repurchasing its shares, thus increasing its interest expense and reducing its interest income.@@@@1@25@@oe@2-2-2013
21374006@unknown@formal@none@1@S@Tandy had 86.3 million shares outstanding at Sept. 30, down from 90 million a year earlier.@@@@1@16@@oe@2-2-2013
21374007@unknown@formal@none@1@S@Revenue rose 5% to $986 million from $937 million.@@@@1@9@@oe@2-2-2013
21374008@unknown@formal@none@1@S@Tandy said consumer electronics sales at its Radio Shack stores have been slow, partly because of a lack of hot, new products.@@@@1@22@@oe@2-2-2013
21374009@unknown@formal@none@1@S@"Radio Shack continues to be lackluster," said Dennis Telzrow, analyst with Eppler, Guerin & Turner in Dallas.@@@@1@17@@oe@2-2-2013
21374010@unknown@formal@none@1@S@He said Tandy "has done a decent job" increasing sales by manufacturing computers for others and expanding sales of its Grid Systems Corp. subsidiary, which sells computers to bigger businesses, but "it's not enough to offset the problems at Radio Shack."@@@@1@41@@oe@2-2-2013
21374011@unknown@formal@none@1@S@Sales at Radio Shack stores open more than a year grew only 2% in the quarter from a year earlier, he said.@@@@1@22@@oe@2-2-2013
21374012@unknown@formal@none@1@S@As a result, Mr. Telzrow said he cut his fiscal 1990 per-share earnings estimate for Tandy to $4.05 from $4.20.@@@@1@20@@oe@2-2-2013
21374013@unknown@formal@none@1@S@Tandy earned $88.8 million, or $3.64 a share, in the year ended June 30.@@@@1@14@@oe@2-2-2013
21374014@unknown@formal@none@1@S@Barry Bryant, an analyst with Drexel Burnham Lambert Inc., said Tandy also has suffered from lethargic sales of its computers aimed at the home and small-office market, which are less-advanced and cheaper than computers aimed at the corporate market.@@@@1@39@@oe@2-2-2013
21374015@unknown@formal@none@1@S@Tandy has added several new products to that line, including a laptop computer priced around $1,000, and is focusing its advertising on the easy-to-use software that is packaged with its machines.@@@@1@31@@oe@2-2-2013
21374016@unknown@formal@none@1@S@Mr. Bryant and other analysts hope all those moves will combine to help Tandy's results improve in the important Christmas quarter.@@@@1@21@@oe@2-2-2013
21374017@unknown@formal@none@1@S@"They've been promising 13% to 15% growth based on the strategic moves they've made," he said.@@@@1@16@@oe@2-2-2013
21374018@unknown@formal@none@1@S@"If the earnings acceleration is to take place, that should be the quarter.@@@@1@13@@oe@2-2-2013
21375001@unknown@formal@none@1@S@At a private dinner Thursday, Drexel Burnham Lambert Inc. chief executive Frederick Joseph delivered a sobering message about the junk bond market to officials of Prudential Insurance Co. of America.@@@@1@30@@oe@2-2-2013
21375002@unknown@formal@none@1@S@Mr. Joseph conceded the junk market was in disarray, according to people familiar with the discussion.@@@@1@16@@oe@2-2-2013
21375003@unknown@formal@none@1@S@He said Drexel -- the leading underwriter of high-risk junk bonds -- could no longer afford to sell any junk offerings if they might later become troubled because Drexel risked losing its highly lucrative junk franchise.@@@@1@36@@oe@2-2-2013
21375004@unknown@formal@none@1@S@The dinner was a stark confirmation that 1989 is the worst year ever for the $200 billion junk market.@@@@1@19@@oe@2-2-2013
21375005@unknown@formal@none@1@S@And investors and traders alike say the current turmoil could take years to resolve.@@@@1@14@@oe@2-2-2013
21375006@unknown@formal@none@1@S@Amid the market disorder, even Drexel, which has the widest and most loyal following of junk bond investors, is pulling in its horns.@@@@1@23@@oe@2-2-2013
21375007@unknown@formal@none@1@S@Although the big investment bank still dominates the junk market, Drexel has been unable to stem the fallout from growing junk bond defaults, withdrawn new offerings, redemptions by shareholders in junk bond mutual funds and an exodus of once-devoted investors.@@@@1@40@@oe@2-2-2013
21375008@unknown@formal@none@1@S@For many money managers, the past four months have been humiliating.@@@@1@11@@oe@2-2-2013
21375009@unknown@formal@none@1@S@"This is the worst shakeout ever in the junk market, and it could take years before it's over," says Mark Bachmann, a senior vice president at Standard & Poor's Corp., a credit rating company.@@@@1@34@@oe@2-2-2013
21375010@unknown@formal@none@1@S@In the third quarter, for example, junk bonds -- those with less than an investment-grade rating -- showed negative returns, the only major sector of the bond market to do so.@@@@1@31@@oe@2-2-2013
21375011@unknown@formal@none@1@S@Since the end of last year, junk bonds have been outperformed by all categories of investment-grade bonds, including ultra-safe Treasury securities.@@@@1@21@@oe@2-2-2013
21375012@unknown@formal@none@1@S@The junk market, which mushroomed to $200 billion from less than $2 billion at the start of the decade, has been declining for months as issuers have stumbled under the weight of hefty interest payments.@@@@1@35@@oe@2-2-2013
21375013@unknown@formal@none@1@S@The fragile market received its biggest jolt last month from Campeau Corp., which created its U.S. retailing empire with more than $3 billion in junk financing.@@@@1@26@@oe@2-2-2013
21375014@unknown@formal@none@1@S@Campeau developed a cash squeeze that caused it to be tardy on some interest payments and to put its prestigious Bloomingdale's department store chain up for sale.@@@@1@27@@oe@2-2-2013
21375015@unknown@formal@none@1@S@At that point, the junk market went into a tailspin as buyers disappeared and investors tried to sell.@@@@1@18@@oe@2-2-2013
21375016@unknown@formal@none@1@S@In an interview, Mr. Joseph says his dinner discussion with the Prudential executives acknowledged problems for junk.@@@@1@17@@oe@2-2-2013
21375017@unknown@formal@none@1@S@"What I thought I was saying is that the market is troubled but still viable and, appropriately enough, quite quality-conscious, which is not at all bad," he says.@@@@1@28@@oe@2-2-2013
21375018@unknown@formal@none@1@S@"Nobody's been perfect in their credit judgments the past couple years, and we're going to make sure our default rates are going to be in the acceptable parameters of the market."@@@@1@31@@oe@2-2-2013
21375019@unknown@formal@none@1@S@What has jolted many junk buyers is the sudden realization that junk bonds cannot necessarily be bought and sold with the ease of common stocks and many investment-grade bonds.@@@@1@29@@oe@2-2-2013
21375020@unknown@formal@none@1@S@Unlike the New York Stock Exchange, where buyers and sellers are quickly matched, the junk market, where risky corporate loans are traded, is sometimes closed for repairs.@@@@1@27@@oe@2-2-2013
21375021@unknown@formal@none@1@S@At closely held Deltec Securities Corp., junk bond money managers Amy K. Minella and Hannah H. Strasser say the problems of the junk market go deeper than a temporary malaise.@@@@1@30@@oe@2-2-2013
21375022@unknown@formal@none@1@S@In recent months, they say, there has been heavy selling of junk bonds by some of the market's traditional investors, while new buyers haven't materialized to replace them.@@@@1@28@@oe@2-2-2013
21375023@unknown@formal@none@1@S@Wall Street securities firms, "the primary source of liquidity for the high yield market," have been net sellers of junk bonds because of trading losses, Deltec said in a recent, grim report to customers.@@@@1@34@@oe@2-2-2013
21375024@unknown@formal@none@1@S@Mutual funds have also been net sellers of junk bonds as junk's relatively poor performance and negative press coverage have produced "above-normal" redemptions by shareholders, Deltec said.@@@@1@27@@oe@2-2-2013
21375025@unknown@formal@none@1@S@Investors, trying to raise cash, have sold "large liquid issues" such as RJR Holdings Corp. and Kroger Co.; declines in these benchmark issues have contributed to the market's distress.@@@@1@29@@oe@2-2-2013
21375026@unknown@formal@none@1@S@And, Deltec said, buying has been severely reduced because savings and loans have been restricted in their junk purchases by recently passed congressional legislation.@@@@1@24@@oe@2-2-2013
21375027@unknown@formal@none@1@S@"In fact, savings and loans were sellers of high yield holdings throughout the quarter," Deltec said.@@@@1@16@@oe@2-2-2013
21375028@unknown@formal@none@1@S@Ms. Minella and Ms. Strasser say they are managing their junk portfolios defensively, building cash and selectively upgrading the overall quality.@@@@1@21@@oe@2-2-2013
21375029@unknown@formal@none@1@S@Meanwhile, Prudential, the nation's largest insurer and the biggest investor in junk bonds, has seen the value of its junk bond portfolio drop to $6.5 billion from $7 billion since August because of falling junk prices.@@@@1@36@@oe@2-2-2013
21375030@unknown@formal@none@1@S@"We certainly do have a lack of liquidity here, and it's something to be concerned about," says James A. Gregoire, a managing director.@@@@1@23@@oe@2-2-2013
21375031@unknown@formal@none@1@S@"I have no reason to think things will get worse, but this market has a knack for surprising us.@@@@1@19@@oe@2-2-2013
21375032@unknown@formal@none@1@S@This market teaches us to be humble."@@@@1@7@@oe@2-2-2013
21375033@unknown@formal@none@1@S@The junk market's "yield hogs are learning a real painful lesson," he says.@@@@1@13@@oe@2-2-2013
21375034@unknown@formal@none@1@S@Although the majority of junk bonds outstanding show no signs of default, the market has downgraded many junk issues as if they were in trouble, says Stuart Reese, manager of Aetna Life & Casualty Insurance Co.'s $17 billion investment-grade public bond portfolio.@@@@1@42@@oe@2-2-2013
21375035@unknown@formal@none@1@S@"But we think the risks are there for things getting a lot worse.@@@@1@13@@oe@2-2-2013
21375036@unknown@formal@none@1@S@And the risks aren't appropriate for us," he says.@@@@1@9@@oe@2-2-2013
21375037@unknown@formal@none@1@S@The big insurer, unlike Prudential, owns only about $150 million of publicly sold junk bonds.@@@@1@15@@oe@2-2-2013
21375038@unknown@formal@none@1@S@The string of big junk bond defaults, which have been a major cause of the market's problems this year, probably will persist, some analysts say.@@@@1@25@@oe@2-2-2013
21375039@unknown@formal@none@1@S@"If anything, we're going to see defaults increase because credit ratings have declined," says Paul Asquith, associate professor at the Massachusetts Institute of Technology's Sloan School of Management.@@@@1@28@@oe@2-2-2013
21375040@unknown@formal@none@1@S@Mr. Asquith, whose study on junk bond defaults caused a furor on Wall Street when it was disclosed last April, says this year's junk bond defaults already show a high correlation with his own findings.@@@@1@35@@oe@2-2-2013
21375041@unknown@formal@none@1@S@His study showed that junk bonds over time had a cumulative default rate of 34%.@@@@1@15@@oe@2-2-2013
21375042@unknown@formal@none@1@S@One indication of a growing number of junk defaults, Mr. Asquith says, is that about half of the $3 billion of corporate bonds outstanding that have been lowered to a default rating by S&P this year are junk bonds sold during the market's big issue years of 1984 through 1986.@@@@1@50@@oe@2-2-2013
21375043@unknown@formal@none@1@S@These bonds, now rated single-D, include junk offerings by AP Industries, Columbia Savings (Colorado), First Texas Savings Association, Gilbraltar Financial Corp., Integrated Resources Inc., Metropolitan Broadcasting Corp., Resorts International Inc., Southmark Corp. and Vyquest Inc.@@@@1@35@@oe@2-2-2013
21375044@unknown@formal@none@1@S@"Obviously, we got a lot more smoke than fire from the people who told us the market wasn't so risky," says Bradford Cornell, professor of finance at University of California's Anderson Graduate School of Management in Los Angeles.@@@@1@38@@oe@2-2-2013
21375045@unknown@formal@none@1@S@Mr. Cornell has just completed a study that finds that the risks and returns of junk bonds are less than on common stocks but more than on investment-grade bonds.@@@@1@29@@oe@2-2-2013
21375046@unknown@formal@none@1@S@Mr. Cornell says: "The junk market is no bonanza as Drexel claimed, but it also isn't a disaster as the doomsayers say."@@@@1@22@@oe@2-2-2013
21375047@unknown@formal@none@1@S@Despite the junk market's problems, Drexel continues to enjoy a loyalty among junk bond investors that its Wall Street rivals haven't found.@@@@1@22@@oe@2-2-2013
21375048@unknown@formal@none@1@S@During the past three weeks, for example, Drexel has sold $1.3 billion of new junk bonds for Turner Broadcasting Co., Uniroyal Chemical, Continental Air and Duff & Phelps.@@@@1@28@@oe@2-2-2013
21375049@unknown@formal@none@1@S@Still, the list of troubled Drexel bond offerings dwarfs that of any firm on Wall Street, as does its successful offerings.@@@@1@21@@oe@2-2-2013
21375050@unknown@formal@none@1@S@Troubled Drexel-underwritten issues include Resorts International, Braniff, Integrated Resources, SCI TV, Gillette Holdings, Western Electric and Southmark.@@@@1@17@@oe@2-2-2013
21375051@unknown@formal@none@1@S@"Quality junk bonds will continue to trade well," says Michael Holland, chairman of Salomon Brothers Asset Management Inc.@@@@1@18@@oe@2-2-2013
21375052@unknown@formal@none@1@S@"But the deals that never should have been brought have now become nuclear waste.@@@@1@14@@oe@2-2-2013
21376001@unknown@formal@none@1@S@As Helen Boehm, who owns an art porcelain company, sipped her luncheon cocktail, she reeled off the names of a few pals -- Prince Charles, Princess Diana, Sarah Ferguson, John Kluge, Milton Petrie.@@@@1@33@@oe@2-2-2013
21376002@unknown@formal@none@1@S@Then, flashing a diamond ring as big as the Ritz ("my day diamond, darling"), she told her two companions that she is on the "board" of the Vatican Museum in Rome.@@@@1@31@@oe@2-2-2013
21376003@unknown@formal@none@1@S@As it turns out, the board has a lot of important members, including Winton Blount (former postmaster general of the U.S.), Mrs. Henry Gaisman (widow of the inventor of auto-strop razor) and Vincent Murphy (an investment banker at Merrill Lynch & Co.)@@@@1@42@@oe@2-2-2013
21376004@unknown@formal@none@1@S@But Mrs. Boehm didn't mention any of them.@@@@1@8@@oe@2-2-2013
21376005@unknown@formal@none@1@S@"Helen Boehm has a way with names," says James Revson, a gossip columnist for Newsday (and son of Joseph Revson, a founder of Revlon).@@@@1@24@@oe@2-2-2013
21376006@unknown@formal@none@1@S@Like which are droppable and which are not.@@@@1@8@@oe@2-2-2013
21376007@unknown@formal@none@1@S@With the fall social season well under way, name-droppers are out in force, trying to impress their betters and sometimes put down their lessers.@@@@1@24@@oe@2-2-2013
21376008@unknown@formal@none@1@S@But the truth is that almost everyone, from real-estate agents to city fathers, name-drops; and a surprising number of people have an ancient uncle who claims he lived next door to the cartoonist who did the Katzenjammer Kids.@@@@1@38@@oe@2-2-2013
21376009@unknown@formal@none@1@S@(In case you have forgotten, his name was Rudolph Dirks.)@@@@1@10@@oe@2-2-2013
21376010@unknown@formal@none@1@S@"Name-dropping is pervasive and getting more so as society becomes more complex and alienating," says Herbert Freudenberger, a New York psychoanalyst, with a high-powered clientele.@@@@1@25@@oe@2-2-2013
21376011@unknown@formal@none@1@S@"It can be an avenue of entrance to a certain sector of society. . . .@@@@1@16@@oe@2-2-2013
21376012@unknown@formal@none@1@S@It provides some people a needed sense of affiliation and can help open up a conversation with someone you don't know."@@@@1@21@@oe@2-2-2013
21376013@unknown@formal@none@1@S@Like the Long Island matron in the theater district the other day who swore to a stranger that she once met Liza Minnelli.@@@@1@23@@oe@2-2-2013
21376014@unknown@formal@none@1@S@"I was having a drink in Sardi's, when all of a sudden I saw a woman's backside coming up the steps on the second floor and she was wearing sequined slacks.@@@@1@31@@oe@2-2-2013
21376015@unknown@formal@none@1@S@I knew it was someone important, so I followed her into the ladies room and sure enough, it was Liza.@@@@1@20@@oe@2-2-2013
21376016@unknown@formal@none@1@S@So I said, `Hello.'@@@@1@4@@oe@2-2-2013
21376017@unknown@formal@none@1@S@And she said, `Hello.'@@@@1@4@@oe@2-2-2013
21376018@unknown@formal@none@1@S@Can you imagine?@@@@1@3@@oe@2-2-2013
21376019@unknown@formal@none@1@S@Liza said hello to me."@@@@1@5@@oe@2-2-2013
21376020@unknown@formal@none@1@S@Some people must drop names -- call it an irresistible impulse.@@@@1@11@@oe@2-2-2013
21376021@unknown@formal@none@1@S@"They can't help talking about the big important people they know, even if they don't really know them," says Dr. Freudenberger.@@@@1@21@@oe@2-2-2013
21376022@unknown@formal@none@1@S@Beauregard Houston-Montgomery, a New York writer who changed his name from William Stretch in 1980, is an inveterate name-dropper.@@@@1@19@@oe@2-2-2013
21376023@unknown@formal@none@1@S@"I do it innately and pathologically, and while it may occasionally get me into trouble, it's also gotten me access to parties and society," he says.@@@@1@26@@oe@2-2-2013
21376024@unknown@formal@none@1@S@Name-dropping recently helped Mr. Houston-Montgomery crash a party Fame magazine threw for 100 of the 2,809 people mentioned in the diaries of the late Andy Warhol.@@@@1@26@@oe@2-2-2013
21376025@unknown@formal@none@1@S@"I guess I might have asked Beauregard to leave, but he drops so many good names, we decided to let him stay," says Steven Greenberg, publisher of Fame.@@@@1@28@@oe@2-2-2013
21376026@unknown@formal@none@1@S@"After all, Warhol was the ultimate namedropper, dropping five a day in his diaries.@@@@1@14@@oe@2-2-2013
21376027@unknown@formal@none@1@S@And Beauregard was mentioned twice -- although very briefly and in passing."@@@@1@12@@oe@2-2-2013
21376028@unknown@formal@none@1@S@Mr. Houston-Montgomery says that at the party he waved to Malcolm Forbes, publisher of Forbes magazine ("We've been in the columns together"), Mary Boone, a New York art dealer ("I think she knows me, but I'm not sure ") and Bridget Fonda, the actress ("She knows me, but we're not really the best of friends").@@@@1@55@@oe@2-2-2013
21376029@unknown@formal@none@1@S@Mr. Revson, the gossip columnist, says there are people who actually plan whose names they are going to drop before attending a party.@@@@1@23@@oe@2-2-2013
21376030@unknown@formal@none@1@S@These droppers don't flaunt only their friendships with the Trumps, Brooke Astor or Georgette Mosbacher.@@@@1@15@@oe@2-2-2013
21376031@unknown@formal@none@1@S@"They even drop semi-obscure names like Wolfgang Flottl, whom everybody these days apparently has heard of but no one really knows," says Mr. Revson.@@@@1@24@@oe@2-2-2013
21376032@unknown@formal@none@1@S@"It's the one-upsmanship of name-dropping that counts."@@@@1@7@@oe@2-2-2013
21376033@unknown@formal@none@1@S@But name-dropping has other benefits, often civic.@@@@1@7@@oe@2-2-2013
21376034@unknown@formal@none@1@S@In the name of civic pride and from the desire to nullify a negative image, some city promoters seek to link their municipality with the most recognizable names the city has to offer.@@@@1@33@@oe@2-2-2013
21376035@unknown@formal@none@1@S@Take Cleveland.@@@@1@2@@oe@2-2-2013
21376036@unknown@formal@none@1@S@It has gotten a bad rep because its once heavily polluted Cuyahoga River caught fire, because former Mayor Ralph Perk set his hair on fire with an acetylene torch and because its proposed Rock 'n' Roll Hall of Fame was recently refused an urban-development grant.@@@@1@45@@oe@2-2-2013
21376037@unknown@formal@none@1@S@Some people call it "The Mistake on the Lake" -- Lake Erie, that is.@@@@1@14@@oe@2-2-2013
21376038@unknown@formal@none@1@S@"It helps to point out how many important people came through Cleveland on their way to the top," says George Miller, executive director of the New Cleveland Campaign, a nonprofit organization devoted to citing the city's strengths.@@@@1@37@@oe@2-2-2013
21376039@unknown@formal@none@1@S@Mr. Miller notes that actor Paul Newman's family owned a sporting-goods store in Cleveland, that the late actress Margaret Hamilton, who played the bad witch in "The Wizard Of Oz," once ran a nursery school in Cleveland and that comedian Bob Hope's father, a stonemason, once worked on a church next to Severence Hall, Cleveland's main concert hall.@@@@1@58@@oe@2-2-2013
21376040@unknown@formal@none@1@S@"Power names like that don't hurt the city's reputation," Mr. Miller says.@@@@1@12@@oe@2-2-2013
21376041@unknown@formal@none@1@S@In Hollywood, an average family can gain cachet from moving into a home vacated by the famous or near famous.@@@@1@20@@oe@2-2-2013
21376042@unknown@formal@none@1@S@"Why we even just sold a three-bedroom house in Van Nuys and were able to keep the price firm in a weak real-estate market by noting that the original Lone Ranger lived there," says David Rambo, a sales associate with Jon Douglas Co., a Los Angeles real-estate agency.@@@@1@48@@oe@2-2-2013
21376043@unknown@formal@none@1@S@"Most people can't even remember his name."@@@@1@7@@oe@2-2-2013
21376044@unknown@formal@none@1@S@(It is John Hart.)@@@@1@4@@oe@2-2-2013
21376045@unknown@formal@none@1@S@Mr. Rambo says that a 3.2-acre property overlooking the San Fernando Valley is priced at $4 million because the late actor Erroll Flynn once lived there.@@@@1@26@@oe@2-2-2013
21376046@unknown@formal@none@1@S@"If Flynn hadn't lived there, the property might have been priced $1 million lower," says Mr. Rambo, noting that Flynn's house has been bulldozed, and only the swimming pool remains.@@@@1@30@@oe@2-2-2013
21376047@unknown@formal@none@1@S@Press agents and public-relations practitioners are notorious name-droppers.@@@@1@8@@oe@2-2-2013
21376048@unknown@formal@none@1@S@And some even do it with malice aforethought.@@@@1@8@@oe@2-2-2013
21376049@unknown@formal@none@1@S@Len Kessler, a financial publicist in New York, sometimes uses it to get the attention of journalists who try to avoid him.@@@@1@22@@oe@2-2-2013
21376050@unknown@formal@none@1@S@He says that when Dan Dorfman, a financial columnist with USA Today, hasn't returned his phone calls, he leaves messages with Mr. Dorfman's office saying that he has an important story on Donald Trump, Meshulam Riklis or Marvin Davis.@@@@1@39@@oe@2-2-2013
21376051@unknown@formal@none@1@S@He admits he has no story on any of them on these occasions.@@@@1@13@@oe@2-2-2013
21376052@unknown@formal@none@1@S@"But it does get him to return my calls, and it makes me feel better for the times he's given me the brushoff," Mr. Kessler says.@@@@1@26@@oe@2-2-2013
21376053@unknown@formal@none@1@S@There are, of course, obvious dangers to blatant, unsubstantiated name-dropping.@@@@1@10@@oe@2-2-2013
21376054@unknown@formal@none@1@S@Jeffry Thal, a publicity agent for the Lantz Office in Los Angeles, warns that dropping the wrong name labels the dropper as a fake and a fraud.@@@@1@27@@oe@2-2-2013
21376055@unknown@formal@none@1@S@"Get caught and you're dead in the water," says Mr. Thal.@@@@1@11@@oe@2-2-2013
21376056@unknown@formal@none@1@S@Mr. Thal says that Elizabeth Taylor, a client, "hates being called `Liz.'. . .@@@@1@14@@oe@2-2-2013
21376057@unknown@formal@none@1@S@If directors or producers phone me and say they know `Liz, ' I know they've never met her.@@@@1@18@@oe@2-2-2013
21376058@unknown@formal@none@1@S@She prefers `Elizabeth.'"@@@@1@3@@oe@2-2-2013
21376059@unknown@formal@none@1@S@In New York society, Pat Buckley, the very social wife of author William Buckley, has the nicknames "Mrs. Buckles" and "Patsy."@@@@1@21@@oe@2-2-2013
21376060@unknown@formal@none@1@S@And her husband sometimes calls her "Ducky."@@@@1@7@@oe@2-2-2013
21376061@unknown@formal@none@1@S@"But call her `Patty,' and it's a sure giveaway you're not in her circle, because she doesn't use that name," says Joan Kron, editor-in-chief of Avenue magazine, a monthly publication sent to all the right names.@@@@1@36@@oe@2-2-2013
21376062@unknown@formal@none@1@S@John Spencer Churchill, a nephew of the late Sir Winston Churchill, former prime minister of Great Britain, isn't that impressed with most name-droppers he meets.@@@@1@25@@oe@2-2-2013
21376063@unknown@formal@none@1@S@That's because they only drop "mere names," says Mr. Churchill.@@@@1@10@@oe@2-2-2013
21376064@unknown@formal@none@1@S@Currently writing his memoirs, Mr. Churchill, an artist, tells how tycoons such as the late Jean Paul Getty, the oil billionnaire, were, in fact, known only by one initial, their last.@@@@1@31@@oe@2-2-2013
21376065@unknown@formal@none@1@S@"When you're at the club, you ask whether they've spoken to `G.'@@@@1@12@@oe@2-2-2013
21376066@unknown@formal@none@1@S@Now they know who you mean and you know who you mean.@@@@1@12@@oe@2-2-2013
21376067@unknown@formal@none@1@S@But no one else does.@@@@1@5@@oe@2-2-2013
21376068@unknown@formal@none@1@S@Now that's name-dropping, if you know what I mean.@@@@1@9@@oe@2-2-2013
21377001@unknown@formal@none@1@S@Part of a Series}@@@@1@4@@oe@2-2-2013
21377002@unknown@formal@none@1@S@SMYRNA, Ga. --@@@@1@3@@oe@2-2-2013
21377003@unknown@formal@none@1@S@The auto-dealer strip in this booming suburb runs nearly five miles along Cobb Parkway, stretching from the Perimeter highway that circles Atlanta to the "Big Chicken," a pullet-roofed fast-food restaurant and local landmark.@@@@1@33@@oe@2-2-2013
21377004@unknown@formal@none@1@S@Twenty years ago, in the infancy of suburban sprawl, just a handful of dealerships were here.@@@@1@16@@oe@2-2-2013
21377005@unknown@formal@none@1@S@Now there are 23.@@@@1@4@@oe@2-2-2013
21377006@unknown@formal@none@1@S@Alongside such long-familiar names as Chevrolet, Ford and Dodge are nameplates that didn't exist until three years ago: Acura, Sterling, Hyundai.@@@@1@21@@oe@2-2-2013
21377007@unknown@formal@none@1@S@Under construction is the strip's 24th showroom, the future home of Lexus, a luxury marque launched by Toyota Motor Corp. just two months ago.@@@@1@24@@oe@2-2-2013
21377008@unknown@formal@none@1@S@The 1980s have spawned an explosion of consumer choice in America, in everything from phone companies to colas.@@@@1@18@@oe@2-2-2013
21377009@unknown@formal@none@1@S@And especially, as the Cobb Parkway strip attests, in cars.@@@@1@10@@oe@2-2-2013
21377010@unknown@formal@none@1@S@Americans now can choose among 572 different models of cars, vans and trucks, up from just 408 when the decade began, according to Automotive News, a trade publication.@@@@1@28@@oe@2-2-2013
21377011@unknown@formal@none@1@S@For car marketers, it has become a much tougher battle to keep loyal customers from defecting to one of the new makes on the block.@@@@1@25@@oe@2-2-2013
21377012@unknown@formal@none@1@S@For American car buyers, the proliferation of choice is both liberating and confusing.@@@@1@13@@oe@2-2-2013
21377013@unknown@formal@none@1@S@Malcolm MacDougall, vice chairman of the Jordan, McGrath, Case & Taylor advertising agency in New York, calls the proliferation "nameplate mania."@@@@1@21@@oe@2-2-2013
21377014@unknown@formal@none@1@S@He says the number of automobile choices is causing stress among consumers today, and that people will simply ignore new models that lack a well-defined image.@@@@1@26@@oe@2-2-2013
21377015@unknown@formal@none@1@S@"The winners," he predicts, "will be brands from car makers that have traditionally been associated with quality and value."@@@@1@19@@oe@2-2-2013
21377016@unknown@formal@none@1@S@He says it's important for a new make to be as distinctive as possible while still retaining links to the parent company's quality image.@@@@1@24@@oe@2-2-2013
21377017@unknown@formal@none@1@S@He applauds Toyota and Nissan Motor Co. for creating separate divisions for their new luxury models, rather than simply adding more nameplates to their standard car lines.@@@@1@27@@oe@2-2-2013
21377018@unknown@formal@none@1@S@Some auto executives believe the benefits of more choice outweigh the drawbacks.@@@@1@12@@oe@2-2-2013
21377019@unknown@formal@none@1@S@"There's more noise out there, and the consumer may have to work harder to cut through it," says Vincent P. Barabba, executive director of market research and planning at General Motors Corp.@@@@1@32@@oe@2-2-2013
21377020@unknown@formal@none@1@S@"But the reward is that there's less need to make tradeoffs" in choosing one's wheels.@@@@1@15@@oe@2-2-2013
21377021@unknown@formal@none@1@S@Jeanene Page, of North Salt Lake City, Utah, likes the broader selection.@@@@1@12@@oe@2-2-2013
21377022@unknown@formal@none@1@S@She wants something big, and already has looked at the Chrysler New Yorker and Lincoln Town Car.@@@@1@17@@oe@2-2-2013
21377023@unknown@formal@none@1@S@Now, the 55-year-old car shopper is zeroing in on a full-sized van, figuring that it's just the thing to haul nine grandchildren and pull a boat at the same time.@@@@1@30@@oe@2-2-2013
21377024@unknown@formal@none@1@S@"That seems to be what all my friends are using to take the grandkids to the lake," she says.@@@@1@19@@oe@2-2-2013
21377025@unknown@formal@none@1@S@Market segmentation in cars isn't new, but it's far more extensive than when Alfred P. Sloan Jr. conceived the idea 50 years ago.@@@@1@23@@oe@2-2-2013
21377026@unknown@formal@none@1@S@The legendary GM chairman declared that his company would make "a car for every purse and purpose."@@@@1@17@@oe@2-2-2013
21377027@unknown@formal@none@1@S@Now there are many cars for every purse and purpose.@@@@1@10@@oe@2-2-2013
21377028@unknown@formal@none@1@S@Just four years ago, GM planners divided the combined car and truck market into seven segments.@@@@1@16@@oe@2-2-2013
21377029@unknown@formal@none@1@S@Today, they identify 19 distinct segments for cars, and another 11 for trucks and vans.@@@@1@15@@oe@2-2-2013
21377030@unknown@formal@none@1@S@The number of makes has mushroomed because the U.S. is the world's biggest and richest market for automobiles; virtually every auto maker wants to sell here.@@@@1@26@@oe@2-2-2013
21377031@unknown@formal@none@1@S@For every brand like Renault or Fiat that has been squeezed out, others such as Isuzu, Daihatsu and Mitsubishi have come in.@@@@1@22@@oe@2-2-2013
21377032@unknown@formal@none@1@S@Detroit tries to counter the foreign invasion with new brands of its own.@@@@1@13@@oe@2-2-2013
21377033@unknown@formal@none@1@S@GM launched the Geo marque this year to sell cars made in partnership with foreign auto makers, and next year GM's long-awaited Saturn cars will make their debut.@@@@1@28@@oe@2-2-2013
21377034@unknown@formal@none@1@S@Ford Motor Co. created the Merkur nameplate in 1985 to sell its German-made touring sedans in the U.S.@@@@1@18@@oe@2-2-2013
21377035@unknown@formal@none@1@S@But slow sales forced Ford to kill the brand just last week.@@@@1@12@@oe@2-2-2013
21377036@unknown@formal@none@1@S@When consumers have so many choices, brand loyalty is much harder to maintain.@@@@1@13@@oe@2-2-2013
21377037@unknown@formal@none@1@S@The Wall Street Journal's "American Way of Buying" survey found that 53% of today's car buyers tend to switch brands.@@@@1@20@@oe@2-2-2013
21377038@unknown@formal@none@1@S@For the survey, Peter D. Hart Research Associates and the Roper Organization each asked about 2,000 U.S. consumers about their buying habits.@@@@1@22@@oe@2-2-2013
21377039@unknown@formal@none@1@S@Which cars do Americans favor most these days?@@@@1@8@@oe@2-2-2013
21377040@unknown@formal@none@1@S@It's hard to generalize, but age seems to be the best predictor.@@@@1@12@@oe@2-2-2013
21377041@unknown@formal@none@1@S@Adults under age 30 like sports cars, luxury cars, convertibles and imports far more than their elders do.@@@@1@18@@oe@2-2-2013
21377042@unknown@formal@none@1@S@Three of every 10 buyers under 30 would prefer to buy a sports car, compared with just 16% of adults 30 and over, according to the Journal survey.@@@@1@28@@oe@2-2-2013
21377043@unknown@formal@none@1@S@Young consumers prefer luxury cars by a 37% to 28% margin -- even though older buyers, because of their incomes, are more likely to actually purchase a luxury car.@@@@1@29@@oe@2-2-2013
21377044@unknown@formal@none@1@S@Perhaps most striking, 35% of households headed by people aged 18 to 44 have at least one foreign car.@@@@1@19@@oe@2-2-2013
21377045@unknown@formal@none@1@S@That's true of only 14% of households headed by someone 60 or older.@@@@1@13@@oe@2-2-2013
21377046@unknown@formal@none@1@S@Generally, imports appeal most to Americans who live in the West and are well-educated, affluent and, especially, young.@@@@1@18@@oe@2-2-2013
21377047@unknown@formal@none@1@S@"For many baby boomers, buying a domestic car is a totally foreign experience," says Christopher Cedergren, auto-market analyst with J.D. Power & Co. of Agoura Hills, Calif.@@@@1@27@@oe@2-2-2013
21377048@unknown@formal@none@1@S@Such preferences persist even though many Americans believe differences between imported and domestic cars are diminishing.@@@@1@16@@oe@2-2-2013
21377049@unknown@formal@none@1@S@Only 58% of Americans now believe that foreign cars get better gas mileage than domestic models, the Journal survey found, down from 68% in 1987.@@@@1@25@@oe@2-2-2013
21377050@unknown@formal@none@1@S@Some 46% give foreign cars higher quality ratings, down from 50% two years ago.@@@@1@14@@oe@2-2-2013
21377051@unknown@formal@none@1@S@On the other hand, only 42% say foreign cars are less comfortable than U.S. models, down from 55% in 1987.@@@@1@20@@oe@2-2-2013
21377052@unknown@formal@none@1@S@People in the automotive business disagree over how susceptible younger Americans are to brand switching.@@@@1@15@@oe@2-2-2013
21377053@unknown@formal@none@1@S@"Once buying habits are formed, they're very hard to break," declares Thomas Mignanelli, executive vice president for Nissan's U.S. sales operations.@@@@1@21@@oe@2-2-2013
21377054@unknown@formal@none@1@S@But out on Cobb Parkway, Ted Negas sees it differently.@@@@1@10@@oe@2-2-2013
21377055@unknown@formal@none@1@S@"The competition is so intense that an owner's loyalty to a dealership or a car is virtually nonexistent," says Mr. Negas, vice president of Ed Voyles Oldsmobile, one of the first dealerships to locate on the strip.@@@@1@37@@oe@2-2-2013
21377056@unknown@formal@none@1@S@Thus the very fickleness of baby boomers may make it possible to win them back, just as it was possible to lose them.@@@@1@23@@oe@2-2-2013
21377057@unknown@formal@none@1@S@The battle for customer loyalty is evident along the Cobb Parkway strip.@@@@1@12@@oe@2-2-2013
21377058@unknown@formal@none@1@S@Ed Voyles Olds recently established a special section in the service department for owners whose cars are less than a year old, so they get quicker service.@@@@1@27@@oe@2-2-2013
21377059@unknown@formal@none@1@S@Just down the street, Chris Volvo invites serious shoppers to test-drive a new Volvo to any other dealership along the strip, and compare the cars side-by-side.@@@@1@26@@oe@2-2-2013
21377060@unknown@formal@none@1@S@Manufacturers, too, are stretching further to lure buyers.@@@@1@8@@oe@2-2-2013
21377061@unknown@formal@none@1@S@GM's Cadillac division, ignoring Detroit's long-held maxim that safety doesn't sell, is airing television commercials touting its cars' safety features.@@@@1@20@@oe@2-2-2013
21377062@unknown@formal@none@1@S@Cadillac may be on to something.@@@@1@6@@oe@2-2-2013
21377063@unknown@formal@none@1@S@Some 60% of the survey respondents said they would buy anti-lock brakes even if they carry a medium or high price tag.@@@@1@22@@oe@2-2-2013
21377064@unknown@formal@none@1@S@More than 50% felt the same way about air bags.@@@@1@10@@oe@2-2-2013
21377065@unknown@formal@none@1@S@Both features appealed most to buyers under 45.@@@@1@8@@oe@2-2-2013
21377066@unknown@formal@none@1@S@In contrast, dashboard computers, power seats and turbo-charged engines had little appeal.@@@@1@12@@oe@2-2-2013
21377067@unknown@formal@none@1@S@But even a little appeal has a lot of attraction these days.@@@@1@12@@oe@2-2-2013
21377068@unknown@formal@none@1@S@GM's Pontiac division is offering a turbo-charged V-6 engine on its Grand Prix model, even though it expects to sell only about 4,000 cars equipped with that option.@@@@1@28@@oe@2-2-2013
21377069@unknown@formal@none@1@S@The reason: Items with narrow appeal can be important in a market as fragmented as today's.@@@@1@16@@oe@2-2-2013
21377070@unknown@formal@none@1@S@Americans spent more than $190 billion on new cars and trucks last year, and just 1% of that market exceeded Polaroid Co.'s sales of $1.86 billion.@@@@1@26@@oe@2-2-2013
21377071@unknown@formal@none@1@S@"Even if it's only 1%," says GM's Mr. Barabba, "would you throw away sales the size of Polaroid?"@@@@1@18@@oe@2-2-2013
21378001@unknown@formal@none@1@S@American Telephone & Telegraph Co. said it will lay off 75 to 85 technicians here, effective Nov. 1.@@@@1@18@@oe@2-2-2013
21378002@unknown@formal@none@1@S@The workers install, maintain and repair its private branch exchanges, which are large intracompany telephone networks.@@@@1@16@@oe@2-2-2013
21379001@unknown@formal@none@1@S@It's a California crime saga worthy of an Erle Stanley Gardner title: The Case of the Purloined Palm Trees.@@@@1@19@@oe@2-2-2013
21379002@unknown@formal@none@1@S@Edward Carlson awoke one morning last month to find eight holes in his front yard where his prized miniature palms, called cycads, once stood.@@@@1@24@@oe@2-2-2013
21379003@unknown@formal@none@1@S@Days later, the thieves returned and dug out more, this time adding insult to injury.@@@@1@15@@oe@2-2-2013
21379004@unknown@formal@none@1@S@"The second time," he says, "they left the shovel."@@@@1@9@@oe@2-2-2013
21379005@unknown@formal@none@1@S@No garden-variety crime, palm-tree rustling is sprouting up all over Southern California, bringing big bucks to crooks who know their botany.@@@@1@21@@oe@2-2-2013
21379006@unknown@formal@none@1@S@Cycads, the most popular of which is the Sago Palm, are doll-sized versions of California's famous long-necked palms, with stubby trunks and fern-like fronds.@@@@1@24@@oe@2-2-2013
21379007@unknown@formal@none@1@S@Because the Sago is relatively rare and grows only a couple of inches a year, it's a pricey lawn decoration: A two-foot tall Sago can retail for $1,000, and taller ones often fetch $3,000 or more.@@@@1@36@@oe@2-2-2013
21379008@unknown@formal@none@1@S@"Evidently, somebody has realized it's easy money to steal these things," says Loran Whitelock, a research associate specializing in cycads at the Los Angeles State and County Arboretum.@@@@1@28@@oe@2-2-2013
21379009@unknown@formal@none@1@S@Just last week, would-be thieves damaged three Sagos at Mr. Whitelock's home in the Eagle Rock section before something frightened them off, foiled.@@@@1@23@@oe@2-2-2013
21379010@unknown@formal@none@1@S@"It's hard to think someone is raping your garden," he says.@@@@1@11@@oe@2-2-2013
21379011@unknown@formal@none@1@S@Police suspect that the criminals, who dig up the plants in the dead of night, are selling them to nurseries or landscapers.@@@@1@22@@oe@2-2-2013
21379012@unknown@formal@none@1@S@The Sago has become a popular accent in tony new housing tracts, apparently giving the rustlers a ready market for their filched fronds.@@@@1@23@@oe@2-2-2013
21379013@unknown@formal@none@1@S@Thieves are going to find "anybody who has enough bucks to plant these things in their front yard," says William Morrissey, an investigator with the police department in Garden Grove, Calif., where five such thefts have been reported in the past several weeks.@@@@1@43@@oe@2-2-2013
21379014@unknown@formal@none@1@S@The department is advising residents to plant Sagos, if they must, in the back yard and telling nurseries to be on the lookout for anyone trying to palm one off.@@@@1@30@@oe@2-2-2013
21379015@unknown@formal@none@1@S@But for those Californians who want exotic gardens out front where neighbors can appreciate them, there's always Harold Smith's approach.@@@@1@20@@oe@2-2-2013
21379016@unknown@formal@none@1@S@After three Sagos were stolen from his home in Garden Grove, "I put a big iron stake in the ground and tied the tree to the stake with a chain," he says proudly.@@@@1@33@@oe@2-2-2013
21379017@unknown@formal@none@1@S@"And you can't cut this chain with bolt cutters.@@@@1@9@@oe@2-2-2013
21380001@unknown@formal@none@1@S@Program trading on the New York Stock Exchange in September rose to its highest recorded level as a percentage of total monthly trading volume.@@@@1@24@@oe@2-2-2013
21380002@unknown@formal@none@1@S@September program trading amounted to 13.8% of average daily New York Stock Exchange volume of 151.8 million shares, the largest percentage since the exchange began making such figures public in July 1988.@@@@1@32@@oe@2-2-2013
21380003@unknown@formal@none@1@S@A daily average of 20.9 million shares traded in program strategies in September, the second-highest level ever.@@@@1@17@@oe@2-2-2013
21380004@unknown@formal@none@1@S@The highest level was in June 1989, when a daily average of 22.1 million shares traded in program strategies.@@@@1@19@@oe@2-2-2013
21380005@unknown@formal@none@1@S@Average daily trading volume in June of 180.3 million shares was considerably higher than in September.@@@@1@16@@oe@2-2-2013
21380006@unknown@formal@none@1@S@Program trading amounted to 12.3% of average daily volume in June.@@@@1@11@@oe@2-2-2013
21380007@unknown@formal@none@1@S@The Big Board says program trading describes a variety of strategies involving the purchase or sale of a basket of 15 or more stocks.@@@@1@24@@oe@2-2-2013
21380008@unknown@formal@none@1@S@The most controversial of these is stock-index arbitrage, in which traders buy or sell baskets of stocks and offset the position with an opposite trade in stock-index futures to lock in profits.@@@@1@32@@oe@2-2-2013
21380009@unknown@formal@none@1@S@It's the most controversial form of program trading because it can create abrupt price swings in the stock market.@@@@1@19@@oe@2-2-2013
21380010@unknown@formal@none@1@S@Salomon Brothers Inc. was the top program trader in September, but most of the firm's activity involved portfolio trading strategies other than stock-index arbitrage.@@@@1@24@@oe@2-2-2013
21380011@unknown@formal@none@1@S@Overall, Salomon reported program trading volume of 75.2 million shares.@@@@1@10@@oe@2-2-2013
21380012@unknown@formal@none@1@S@The top stock-index arbitrage firm last month was Morgan Stanley & Co.@@@@1@12@@oe@2-2-2013
21380013@unknown@formal@none@1@S@Of Morgan Stanley's 66.8 million shares in program trades for the month, 53.1 million were in stock-index arbitrage trades.@@@@1@19@@oe@2-2-2013
21380014@unknown@formal@none@1@S@Behind second-place Morgan Stanley were Kidder, Peabody & Co., Goldman, Sachs & Co. and CS First Boston Inc.'s First Boston Corp. unit.@@@@1@22@@oe@2-2-2013
21381001@unknown@formal@none@1@S@A group of shareholders filed suit against Imperial Corp. of America, Drexel Burnham Lambert Inc., First Executive Corp. and others, charging them with artificially inflating Imperial's stock price to protect certain major investors.@@@@1@33@@oe@2-2-2013
21381002@unknown@formal@none@1@S@The complaint, filed in federal district court, accuses Imperial and other defendants of issuing false and misleading financial data.@@@@1@19@@oe@2-2-2013
21381003@unknown@formal@none@1@S@It also charges that Imperial, the holding company for Imperial Savings & Loan, experienced major losses and writedowns because of improper assessment of the risks of junk-bond investments and wholesale consumer loan packages.@@@@1@33@@oe@2-2-2013
21381004@unknown@formal@none@1@S@The suit seeks unspecified damages.@@@@1@5@@oe@2-2-2013
21381005@unknown@formal@none@1@S@Imperial is in the midst of reducing its junk-bond holdings and getting out of the investment banking business in order to return to traditional thrift activities.@@@@1@26@@oe@2-2-2013
21381006@unknown@formal@none@1@S@The derivative suit is similar to a class-action complaint filed earlier this year.@@@@1@13@@oe@2-2-2013
21381007@unknown@formal@none@1@S@Imperial said in a statement it expects other complaints to be filed in the wake of the original suit and a recent article in Barron's magazine that focused on the company's problems.@@@@1@32@@oe@2-2-2013
21381008@unknown@formal@none@1@S@Although an Imperial spokesman said the company hadn't yet been served with the derivative suit, he reiterated the company's statement that it would vigorously defend itself against the class-action suit.@@@@1@30@@oe@2-2-2013
21381009@unknown@formal@none@1@S@Spokesmen at Drexel and First Executive said the companies hadn't yet been served with the suit.@@@@1@16@@oe@2-2-2013
21381010@unknown@formal@none@1@S@In a separate complaint also filed in federal court here, shareholder Max Grill of New York charged Imperial, its top executives and directors with breach of fiduciary duty and squandering the company's assets.@@@@1@33@@oe@2-2-2013
21381011@unknown@formal@none@1@S@Imperial said it hadn't been served with this suit either.@@@@1@10@@oe@2-2-2013
21382001@unknown@formal@none@1@S@Companies listed below reported quarterly profit substantially different from the average of analysts' estimates.@@@@1@14@@oe@2-2-2013
21382002@unknown@formal@none@1@S@The companies are followed by at least three analysts, and had a minimum five-cent change in actual earnings per share.@@@@1@20@@oe@2-2-2013
21382003@unknown@formal@none@1@S@Estimated and actual results involving losses are omitted.@@@@1@8@@oe@2-2-2013
21382004@unknown@formal@none@1@S@The percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past 30 days.@@@@1@23@@oe@2-2-2013
21382005@unknown@formal@none@1@S@Otherwise, actual profit is compared with the 300-day estimate.@@@@1@9@@oe@2-2-2013
21383001@unknown@formal@none@1@S@Rhone-Poulenc S.A., Paris, said it completed the purchase of the specialty chemicals operation of RTZ Corp., a British mining and industrial group.@@@@1@22@@oe@2-2-2013
21383002@unknown@formal@none@1@S@Rhone-Poulenc, a chemical and pharmaceutical company, said RTZ Chemicals has annual sales of about $900 million.@@@@1@16@@oe@2-2-2013
21383003@unknown@formal@none@1@S@It didn't release terms of the transaction.@@@@1@7@@oe@2-2-2013
21384001@unknown@formal@none@1@S@Consumer spending in Britain rose 0.1% in the third quarter from the second quarter and was up 3.8% from a year ago, the Central Statistical Office estimated Friday.@@@@1@28@@oe@2-2-2013
21385001@unknown@formal@none@1@S@A group including Gene E. Phillips, former chairman of Southmark Corp., and William S. Friedman, former vice chairman of Southmark, lowered its stake in the Dallas real estate concern to 7.7%, according to a filing with the Securities and Exchange Commission.@@@@1@41@@oe@2-2-2013
21385002@unknown@formal@none@1@S@The group said it sold 455,410 Southmark common shares from Sept. 5 to Oct. 5 for 18.75 cents to 25 cents a share.@@@@1@23@@oe@2-2-2013
21385003@unknown@formal@none@1@S@The filing said the group continues to hold 3,481,887 remaining shares.@@@@1@11@@oe@2-2-2013
21386001@unknown@formal@none@1@S@Eastman Kodak Co., seeking to position itself in the potentially huge high-definition television market, unveiled a converter that can transform conventional motion-picture film into high-definition video.@@@@1@26@@oe@2-2-2013
21386002@unknown@formal@none@1@S@The move also helps the Rochester, N.Y., photographic giant ensure that its motion-picture film business -- for which it holds a virtual monopoly, supplying every Hollywood movie company -- isn't made obsolete by the upstart HDTV business.@@@@1@37@@oe@2-2-2013
21386003@unknown@formal@none@1@S@While the prototype converter is costly, it's being lauded by the infant HDTV industry as a way of increasing the number of high-quality shows that can be seen on the new medium.@@@@1@32@@oe@2-2-2013
21386004@unknown@formal@none@1@S@"The industry has been waiting with bated breath for the machines to come along," says David Niles, president of Eleven Twenty Five Productions Inc., a New York pioneer in high-definition programming.@@@@1@31@@oe@2-2-2013
21386005@unknown@formal@none@1@S@He notes that industry executives have until now worried that they would face a severe shortage of programs once consumers begin replacing their TV sets with HDTVs.@@@@1@27@@oe@2-2-2013
21386006@unknown@formal@none@1@S@Japanese electronic giants, such as Sony Corp. and Hitachi Ltd., have focused almost entirely on HDTV hardware, and virtually ignored software or programs shot in high-definition.@@@@1@26@@oe@2-2-2013
21386007@unknown@formal@none@1@S@And only a handful of small U.S. companies are engaged in high-definition software development.@@@@1@14@@oe@2-2-2013
21386008@unknown@formal@none@1@S@It's estimated that just about 250 hours of HD programming is currently available for airing.@@@@1@15@@oe@2-2-2013
21386009@unknown@formal@none@1@S@Kodak says its new CCD HDTV converter will help alleviate the problem by allowing programmers and broadcasters to convert movies and television programs shot in 35mm motion-picture film into high-definition video.@@@@1@31@@oe@2-2-2013
21386010@unknown@formal@none@1@S@Consumers will be able to switch on their HDTV sets and get all the viewing benefits the high-tech medium offers.@@@@1@20@@oe@2-2-2013
21386011@unknown@formal@none@1@S@Otherwise, they'd be watching programs that are no different in quality from what they currently view on color TVs.@@@@1@19@@oe@2-2-2013
21386012@unknown@formal@none@1@S@It would be like "watching a black and white movie on a color TV set," says Malcolm G. Saull, chairman of the film and video department at the Rochester Institute of Technology.@@@@1@32@@oe@2-2-2013
21386013@unknown@formal@none@1@S@The new converters are "a critical link between film and the television domain," says Joerg D. Agin, vice president and general manager of Kodak's Motion Picture and Audiovisual Products division.@@@@1@30@@oe@2-2-2013
21386014@unknown@formal@none@1@S@Kodak won't disclose the cost or when its converter will be on the market, but it's estimated the machine may be available within two years.@@@@1@25@@oe@2-2-2013
21386015@unknown@formal@none@1@S@A similar machine already on the market, made by Rank Sintel Ltd., a unit of Rank Organisation, costs about $500,000.@@@@1@20@@oe@2-2-2013
21386016@unknown@formal@none@1@S@And the potential market is tremendous, industry experts say.@@@@1@9@@oe@2-2-2013
21386017@unknown@formal@none@1@S@If HDTV takes off in the U.S., there will be demand for some 4,000 to 5,000 HDTV converters, known in the industry as telecines.@@@@1@24@@oe@2-2-2013
21386018@unknown@formal@none@1@S@Demand will come first from programming production companies and then from television stations.@@@@1@13@@oe@2-2-2013
21386019@unknown@formal@none@1@S@"The converter is head and shoulders above anything else I've seen," says Richard J. Stumpf, vice president-engineering and development at MCA Inc.'s Universal City Studios.@@@@1@25@@oe@2-2-2013
21386020@unknown@formal@none@1@S@And Mr. Niles, the program producer, contends that Kodak's move is "a sound marketing decision.@@@@1@15@@oe@2-2-2013
21386021@unknown@formal@none@1@S@They can't afford to stay out of HDTV."@@@@1@8@@oe@2-2-2013
21386022@unknown@formal@none@1@S@Indeed, the stakes are high.@@@@1@5@@oe@2-2-2013
21386023@unknown@formal@none@1@S@The U.S. electronics industry estimates that the HDTV market will total about $150 billion over the next two decades, with an additional $400 billion expected to go for related products.@@@@1@30@@oe@2-2-2013
21386024@unknown@formal@none@1@S@HDTVs break down images into more than 1,100 lines, compared with 525 for today's televisions, providing considerably sharper detail.@@@@1@19@@oe@2-2-2013
21386025@unknown@formal@none@1@S@And the sets are wider, resembling the dimensions of a movie screen.@@@@1@12@@oe@2-2-2013
21386026@unknown@formal@none@1@S@But the financial rewards aren't expected soon, nor are they guaranteed.@@@@1@11@@oe@2-2-2013
21386027@unknown@formal@none@1@S@Experts estimate the first sets of HDTVs won't be available for another five to 10 years, and will probably retail for more than $3,000 each in today's dollars.@@@@1@28@@oe@2-2-2013
21386028@unknown@formal@none@1@S@Some critics say they won't be quickly embraced by consumers because of the high price.@@@@1@15@@oe@2-2-2013
21386029@unknown@formal@none@1@S@Nevertheless, Kodak couldn't risk letting HDTV turn its motion-picture film business into a dinosaur.@@@@1@14@@oe@2-2-2013
21386030@unknown@formal@none@1@S@"Kodak understands HDTV is where everybody is going," says RIT's Mr. Spaull.@@@@1@12@@oe@2-2-2013
21387001@unknown@formal@none@1@S@Yet another political scandal is racking Japan.@@@@1@7@@oe@2-2-2013
21387002@unknown@formal@none@1@S@But this time it's hurting opposition as well as ruling-party members.@@@@1@11@@oe@2-2-2013
21387003@unknown@formal@none@1@S@And as it unfolds, it's revealing some of the more tangled and seamier aspects of Japanese society.@@@@1@17@@oe@2-2-2013
21387004@unknown@formal@none@1@S@Already, ruling Liberal Democratic Party demands that opposition members testify under oath in parliament have stalled one budget committee session and forced the committee to plan a special two-day investigation at the end of the month.@@@@1@36@@oe@2-2-2013
21387005@unknown@formal@none@1@S@But the scandal itself is so convoluted that ruling-party members are divided between those who want to pursue the matter in hope of undermining the opposition and those who favor leaving well enough alone.@@@@1@34@@oe@2-2-2013
21387006@unknown@formal@none@1@S@"The opposition can be the most hurt because everyone already figures the LDP is that kind of beast," says Shigezo Hayasaka, former aide to LDP kingmaker Kakuei Tanaka and now an independent analyst.@@@@1@33@@oe@2-2-2013
21387007@unknown@formal@none@1@S@But, he adds, "We can't tell where it will go at all because we're still in the middle of it."@@@@1@20@@oe@2-2-2013
21387008@unknown@formal@none@1@S@This time, the scandal centers on donations made by the not-quite-mainstream pachinko parlor industry.@@@@1@14@@oe@2-2-2013
21387009@unknown@formal@none@1@S@Pachinko, a kind of pinball, is Japan's favorite form of legal gambling.@@@@1@12@@oe@2-2-2013
21387010@unknown@formal@none@1@S@The donations so far appear to be small, especially compared with the huge sums that changed hands in the Recruit Co. influence-peddling scandal that plagued the ruling party last year.@@@@1@30@@oe@2-2-2013
21387011@unknown@formal@none@1@S@But the implications could be great.@@@@1@6@@oe@2-2-2013
21387012@unknown@formal@none@1@S@Pachinko is slightly on the shady side, often linked to the lower ranks of Japan's underworld and regularly at the top of annual lists of tax evaders.@@@@1@27@@oe@2-2-2013
21387013@unknown@formal@none@1@S@Recently the industry has faced the threat of new restrictions, and political donations may have been made with the intent to bribe.@@@@1@22@@oe@2-2-2013
21387014@unknown@formal@none@1@S@Also, about 60% of pachinko parlor owners are Korean, many of whom maintain close ties with North or South Korean residents' organizations, and donations by such foreign groups are illegal in Japan.@@@@1@32@@oe@2-2-2013
21387015@unknown@formal@none@1@S@To many Japanese, pachinko is benign or enticingly unsavory.@@@@1@9@@oe@2-2-2013
21387016@unknown@formal@none@1@S@Garish neon pachinko marquees blaze from the main streets and narrow alleys of cities and towns across the country.@@@@1@19@@oe@2-2-2013
21387017@unknown@formal@none@1@S@Devotees pass hours, watching the lights blink and listening to the metal balls ping, as much to gamble as to get a little time to be anonymous, alone with their thoughts.@@@@1@31@@oe@2-2-2013
21387018@unknown@formal@none@1@S@At 500 yen ($3.60) for a handful of balls, pachinko is a common pastime, and has been since it took root as cheap entertainment in the years after World War II.@@@@1@31@@oe@2-2-2013
21387019@unknown@formal@none@1@S@But the total of all those pinging balls has created an industry with a reported annual income of 13 trillion yen (almost $92 billion), or nearly the size of Japan's vaunted automobile industry.@@@@1@33@@oe@2-2-2013
21387020@unknown@formal@none@1@S@And because the pachinko industry is regularly at the top of annual lists for tax evasion, some observers estimate the real income could be as much as 20 trillion yen.@@@@1@30@@oe@2-2-2013
21387021@unknown@formal@none@1@S@If that money were being taxed, it could bring the government a badly needed several trillion yen.@@@@1@17@@oe@2-2-2013
21387022@unknown@formal@none@1@S@In 1984, an attempt was made to crack down on the industry with tougher restrictions.@@@@1@15@@oe@2-2-2013
21387023@unknown@formal@none@1@S@Then, in 1988, a proposal to keep better track of income by selling prepaid cards for pachinko was fielded in parliament.@@@@1@21@@oe@2-2-2013
21387024@unknown@formal@none@1@S@The proposal split the industry in two, along the lines of national origin: North Koreans oppose the plan while South Koreans, Japanese and Taiwanese accept it or are neutral.@@@@1@29@@oe@2-2-2013
21387025@unknown@formal@none@1@S@In August, a conservative weekly magazine reported that a pachinko industry organization donated money to Japan Socialist Party members.@@@@1@19@@oe@2-2-2013
21387026@unknown@formal@none@1@S@The magazine alleged that in making the donations, the pachinko industry may have been offering bribes to win support in the battle against prepaid cards, or it may have been laundering money back and forth between the JSP and the North Korean residents' organization, the Chosen Soren.@@@@1@47@@oe@2-2-2013
21387027@unknown@formal@none@1@S@The Chosen Soren and the JSP immediately denied the report.@@@@1@10@@oe@2-2-2013
21387028@unknown@formal@none@1@S@And at first, neither the opposition nor the LDP wanted to pursue the issue.@@@@1@14@@oe@2-2-2013
21387029@unknown@formal@none@1@S@But the press kept it alive; as with the Recruit scandal, lists began circulating with names of people who had received money.@@@@1@22@@oe@2-2-2013
21387030@unknown@formal@none@1@S@Within a matter of weeks, less-conservative magazines reported that members of the ruling LDP had received much larger donations from pachinko organizations.@@@@1@22@@oe@2-2-2013
21387031@unknown@formal@none@1@S@So far, though, there have been no allegations that the contributions the LDP members received amounted to bribes.@@@@1@18@@oe@2-2-2013
21387032@unknown@formal@none@1@S@Then the two camps upped the ante: Reports that Chosen Soren had donated directly to JSP members were rapidly countered by statements that the South Korean residents' organization had long been donating directly to LDP members.@@@@1@36@@oe@2-2-2013
21387033@unknown@formal@none@1@S@The JSP admitted Oct. 13 that its members received about eight million yen from the pachinko organization, and charged LDP members with receiving 125 million yen ($880,000) and other opposition parties with taking about 2.5 million yen.@@@@1@37@@oe@2-2-2013
21387034@unknown@formal@none@1@S@On Friday, the chief cabinet secretary announced that eight cabinet ministers had received five million yen from the industry, including 450,000 yen ($3,175) by Prime Minister Toshiki Kaifu.@@@@1@28@@oe@2-2-2013
21387035@unknown@formal@none@1@S@No one has alleged that the donations were by themselves illegal.@@@@1@11@@oe@2-2-2013
21387036@unknown@formal@none@1@S@Direct donations from either of the residents' organizations would be illegal because the groups are defined as foreign, but both groups deny making direct donations.@@@@1@25@@oe@2-2-2013
21387037@unknown@formal@none@1@S@They say its possible some of their members may be donating privately.@@@@1@12@@oe@2-2-2013
21387038@unknown@formal@none@1@S@The issue is further complicated because although the organizations represent Korean residents, those residents were largely born and raised in Japan and many speak only Japanese.@@@@1@26@@oe@2-2-2013
21387039@unknown@formal@none@1@S@That they retain Korean citizenship and ties is a reflection of history -- their parents were shipped in as laborers during the decades when Japan occupied Korea before World War II -- and the discrimination that still faces Koreans in Japanese society.@@@@1@42@@oe@2-2-2013
21387040@unknown@formal@none@1@S@Many Japanese think it only natural that the organizations or their members would donate to politicians, the way many Japanese do, to win favor or support.@@@@1@26@@oe@2-2-2013
21387041@unknown@formal@none@1@S@Both residents' organizations admit to receiving some funding from abroad.@@@@1@10@@oe@2-2-2013
21387042@unknown@formal@none@1@S@But LDP members and supporters of the prepaid card idea tend to speak in innuendo about the JSP's alleged donations, implying that North Korean money would be more suspect than South Korean because North Korea is communist and South Korea is an ally.@@@@1@43@@oe@2-2-2013
21388001@unknown@formal@none@1@S@When Robert McDuffie was 14, he got a chance to play in the starting lineup for his high school basketball team in Macon, Ga.@@@@1@24@@oe@2-2-2013
21388002@unknown@formal@none@1@S@Unfortunately, his mother had tickets for a recital by Itzhak Perlman the same night, and she was adamant about his attending.@@@@1@21@@oe@2-2-2013
21388003@unknown@formal@none@1@S@"I threw such a fit," says Mr. McDuffie, who had begun violin studies at the age of six.@@@@1@18@@oe@2-2-2013
21388004@unknown@formal@none@1@S@"But once Perlman started playing, I didn't give a damn about basketball. . . .@@@@1@15@@oe@2-2-2013
21388005@unknown@formal@none@1@S@Afterwards, I went home and practiced for three hours."@@@@1@9@@oe@2-2-2013
21388006@unknown@formal@none@1@S@Today, it's obvious that the brawny, six-foot, one-inch musician made the right choice.@@@@1@13@@oe@2-2-2013
21388007@unknown@formal@none@1@S@At 31, Mr. McDuffie has a rich, full-bodied tone, an admirable rhythmic precision and an increasingly busy schedule.@@@@1@18@@oe@2-2-2013
21388008@unknown@formal@none@1@S@He's currently in the midst of a 17-city U.S. tour with Yehudi Menuhin and the Warsaw Sinfonia, with stops including Charleston, S.C. (Oct. 25), Sarasota, Fla. (Oct. 28), Tampa, Fla. (Oct. 29) and Miami (Oct. 31).@@@@1@36@@oe@2-2-2013
21388009@unknown@formal@none@1@S@Later this season he gives a recital at Washington's Kennedy Center, and appears as soloist with several major orchestras.@@@@1@19@@oe@2-2-2013
21388010@unknown@formal@none@1@S@Yet Mr. McDuffie's career has developed at a slower pace than those of some of his better known contemporaries.@@@@1@19@@oe@2-2-2013
21388011@unknown@formal@none@1@S@During the late 1970s, he was part of a musical "brat pack" -- a group of budding virtuosos who studied at the Juilliard School with the noted pedagogue Dorothy DeLay.@@@@1@30@@oe@2-2-2013
21388012@unknown@formal@none@1@S@His violin classmates included Shlomo Mintz, a protege of Isaac Stern who performed with major orchestras while still a student; Cho-Liang Lin, who joined the roster of ICM Artists Inc. at the age of 18; and Nadja Salerno-Sonnenberg, who launched her career by winning the 1981 Naumberg Competition.@@@@1@48@@oe@2-2-2013
21388013@unknown@formal@none@1@S@"I thought I was over the hill at 22," recalls Mr. McDuffie, an outgoing man with pale blue eyes and a light Southern drawl.@@@@1@24@@oe@2-2-2013
21388014@unknown@formal@none@1@S@"But I wasn't ready for a career at that time."@@@@1@10@@oe@2-2-2013
21388015@unknown@formal@none@1@S@Young McDuffie's first violin teacher was Henrik Schwarzenberger, a Hungarian refugee who taught in the Macon public school system.@@@@1@19@@oe@2-2-2013
21388016@unknown@formal@none@1@S@"He taught me how to play like a gypsy," jokes the musician.@@@@1@12@@oe@2-2-2013
21388017@unknown@formal@none@1@S@"I didn't learn to count until I got to Juilliard."@@@@1@10@@oe@2-2-2013
21388018@unknown@formal@none@1@S@After studies at that conservatory's Pre-College Division with an assistant to the legendary instructor Ivan Galamian, he switched at the college level to Miss DeLay, Mr. Galamian's longtime assistant and, ultimately, his rival.@@@@1@33@@oe@2-2-2013
21388019@unknown@formal@none@1@S@"I think I had to prove myself to her," says Mr. McDuffie.@@@@1@12@@oe@2-2-2013
21388020@unknown@formal@none@1@S@"But she was always encouraging.@@@@1@5@@oe@2-2-2013
21388021@unknown@formal@none@1@S@She only put her foot down twice," he continues.@@@@1@9@@oe@2-2-2013
21388022@unknown@formal@none@1@S@"In my freshman year, my roommate was known as a party animal.@@@@1@12@@oe@2-2-2013
21388023@unknown@formal@none@1@S@She thought I wasn't getting my practicing done."@@@@1@8@@oe@2-2-2013
21388024@unknown@formal@none@1@S@As the violinist tells it, his grandmotherly looking teacher "put her hands on her hips, stomped her foot and said, `You've just got to get the {expletive deleted} out of there.'"@@@@1@31@@oe@2-2-2013
21388025@unknown@formal@none@1@S@The second incident took place after Mr. McDuffie gave an ambitious student recital and was feeling rather pleased with himself.@@@@1@20@@oe@2-2-2013
21388026@unknown@formal@none@1@S@Miss DeLay requested that he come to her studio with a tape of the recital.@@@@1@15@@oe@2-2-2013
21388027@unknown@formal@none@1@S@"We listened to the Chausson `Poeme,'" he recalls, "and she said, `You hear the first note, that B-flat?@@@@1@18@@oe@2-2-2013
21388028@unknown@formal@none@1@S@That's the only note that's truly in tune . . .'."@@@@1@11@@oe@2-2-2013
21388029@unknown@formal@none@1@S@"That's the most important experience I've had with any teacher," he says, "because she taught me how to listen.@@@@1@19@@oe@2-2-2013
21388030@unknown@formal@none@1@S@Now, when I play with orchestras, the musicians often compliment me on my intonation."@@@@1@14@@oe@2-2-2013
21388031@unknown@formal@none@1@S@It was also at Juilliard that Mr. McDuffie discovered his predilection for conservative, 20th-century American composers such as David Diamond and Samuel Barber.@@@@1@23@@oe@2-2-2013
21388032@unknown@formal@none@1@S@After winning a school competition with a performance of the latter's "Violin Concerto," Mr. McDuffie was invited to play the work for the composer, who was dying of cancer.@@@@1@29@@oe@2-2-2013
21388033@unknown@formal@none@1@S@"Barber was seated by the fireplace looking very pale," recalls the violinist, who performed the work with a piano accompanist at the composer's apartment.@@@@1@24@@oe@2-2-2013
21388034@unknown@formal@none@1@S@"He didn't say much, but what he said was important because it's not in the score.@@@@1@16@@oe@2-2-2013
21388035@unknown@formal@none@1@S@There's a beautiful, Coplandesque motif -- he'd kill me if he heard me say that -- throughout the first movement . . .@@@@1@23@@oe@2-2-2013
21388036@unknown@formal@none@1@S@The only time the violin has it is right at the end.@@@@1@12@@oe@2-2-2013
21388037@unknown@formal@none@1@S@It's written `marcato' in the score, and I played it that way, kind of gigue-like.@@@@1@15@@oe@2-2-2013
21388038@unknown@formal@none@1@S@And he yelled out `dolce! dolce!' {`sweet! sweet!'}."@@@@1@8@@oe@2-2-2013
21388039@unknown@formal@none@1@S@"So we did it over," he adds.@@@@1@7@@oe@2-2-2013
21388040@unknown@formal@none@1@S@"I played very transparently, with the tip of the bow.@@@@1@10@@oe@2-2-2013
21388041@unknown@formal@none@1@S@If a conductor is sensitive enough to bring down the orchestra {volume} at that point, it makes the piece magical.@@@@1@20@@oe@2-2-2013
21388042@unknown@formal@none@1@S@I don't know why Barber never told anybody else.@@@@1@9@@oe@2-2-2013
21388043@unknown@formal@none@1@S@On Isaac Stern's recording it's very biting."@@@@1@7@@oe@2-2-2013
21388044@unknown@formal@none@1@S@Since leaving Juilliard, Mr. McDuffie has made some smart moves and some controversial ones.@@@@1@14@@oe@2-2-2013
21388045@unknown@formal@none@1@S@His guest appearance on the NBC soap opera "Another World," scandalized musical elitists.@@@@1@13@@oe@2-2-2013
21388046@unknown@formal@none@1@S@By contrast, he's won kudos for his espousal of William Schuman's "Violin Concerto," which he recently recorded for Angel/EMI along with Leonard Bernstein's engaging "Serenade for Violin Solo, Strings and Percussion."@@@@1@31@@oe@2-2-2013
21388047@unknown@formal@none@1@S@Mr. McDuffie's sweet tone, heartfelt lyricism and rhythmic punch make him an ideal interpreter of both works.@@@@1@17@@oe@2-2-2013
21388048@unknown@formal@none@1@S@Aided by the fluid playing of the St. Louis Symphony under Leonard Slatkin's direction, this "Serenade" really swings.@@@@1@18@@oe@2-2-2013
21388049@unknown@formal@none@1@S@Mr. Schuman's "Violin Concerto," which sounds more like a mildly atonal rhapsody for solo violin with orchestral accompaniment, meanders until the propulsive "Agitato, fervente."@@@@1@24@@oe@2-2-2013
21388050@unknown@formal@none@1@S@But there are ample rewards in its plaintive slow sections and virtuoso fireworks for soloist, brass and timpani.@@@@1@18@@oe@2-2-2013
21388051@unknown@formal@none@1@S@At Avery Fisher Hall here, Mr. McDuffie was heard recently with Mr. Menuhin and the Warsaw Sinfonia in more conventional fare -- Bruch's overwrought "Violin Concerto in G Minor."@@@@1@29@@oe@2-2-2013
21388052@unknown@formal@none@1@S@His performance was so effusive and driven that the phrases rarely breathed.@@@@1@12@@oe@2-2-2013
21388053@unknown@formal@none@1@S@The 35-member Sinfonia played adroitly with a big, lush sound that belied its size.@@@@1@14@@oe@2-2-2013
21388054@unknown@formal@none@1@S@Whatever he plays, Mr. McDuffie finds satisfaction in the music itself -- "something greater out there than me," as he puts it during an interview at the Manhattan apartment he shares with wife, Camille, a literary publicist.@@@@1@37@@oe@2-2-2013
21388055@unknown@formal@none@1@S@"A normal person did not write the Beethoven `Violin Concerto,'" he declares.@@@@1@12@@oe@2-2-2013
21388056@unknown@formal@none@1@S@"Even when I hear it played badly, I'm still humbled by the piece.@@@@1@13@@oe@2-2-2013
21388057@unknown@formal@none@1@S@If I could ever feel I've contributed to it in some way, then all the hard work has been worth it."@@@@1@21@@oe@2-2-2013
21388058@unknown@formal@none@1@S@Ms. Jepson is a free-lance music writer in New York.@@@@1@10@@oe@2-2-2013
21389001@unknown@formal@none@1@S@Are consumers too deep in hock?@@@@1@6@@oe@2-2-2013
21389002@unknown@formal@none@1@S@A lot of observers think so, and, if they're right, the whole economy as well as the spendthrifts among us could be hurt.@@@@1@23@@oe@2-2-2013
21389003@unknown@formal@none@1@S@A sudden, forced cutback by consumers, who normally account for about two-thirds of economic activity, would damp the economy at a time when plant-and-equipment spending is slowing and deficit-racked governments can't readily take up the slack.@@@@1@36@@oe@2-2-2013
21389004@unknown@formal@none@1@S@And another wave of bad loans would further batter many already-shaky lending institutions.@@@@1@13@@oe@2-2-2013
21389005@unknown@formal@none@1@S@The worriers cite some worrisome trends.@@@@1@6@@oe@2-2-2013
21389006@unknown@formal@none@1@S@During the almost seven-year-old economic expansion, inflation-adjusted gross national product, disposable personal income and personal consumption expenditures have risen 30%, but inflation-adjusted consumer installment credit has surged 66%.@@@@1@28@@oe@2-2-2013
21389007@unknown@formal@none@1@S@And the ratio of installment debt to disposable personal income -- personal income after taxes -- has hit a high of about 18 1/2%.@@@@1@24@@oe@2-2-2013
21389008@unknown@formal@none@1@S@However, these figures don't seem to worry Thomas A. Durkin, an economist at the Federal Reserve Board.@@@@1@17@@oe@2-2-2013
21389009@unknown@formal@none@1@S@In a paper presented at the recent annual meeting of the National Association of Business Economists in San Francisco, Mr. Durkin comments that "installment credit always grows rapidly in cyclical advances, and growth in this cycle is very typical of earlier experiences."@@@@1@42@@oe@2-2-2013
21389010@unknown@formal@none@1@S@He adds: "We are now witnessing a slowdown which, if history is a guide, could persist for a while."@@@@1@19@@oe@2-2-2013
21389011@unknown@formal@none@1@S@But what about the debt burden?@@@@1@6@@oe@2-2-2013
21389012@unknown@formal@none@1@S@Mr. Durkin doubts that "there is some magic level" at which the ratio of installment debt to disposable income "indicates economic problems."@@@@1@22@@oe@2-2-2013
21389013@unknown@formal@none@1@S@And, "more importantly," he says, "the debt burden measured other ways is not really in uncharted waters."@@@@1@17@@oe@2-2-2013
21389014@unknown@formal@none@1@S@The chart below shows why (see accompanying illustration -- WSJ Oct. 23, 1989).@@@@1@13@@oe@2-2-2013
21389015@unknown@formal@none@1@S@The ratio of consumer installment credit to disposable income, though up a bit, hasn't climbed steeply, and such debt as a percent of household assets is little changed.@@@@1@28@@oe@2-2-2013
21389016@unknown@formal@none@1@S@Moreover, the burden of consumer credit payments relative to disposable income may be "lower in this cycle than earlier," Mr. Durkin says.@@@@1@22@@oe@2-2-2013
21389017@unknown@formal@none@1@S@He notes that some "revolving credit-card credit is actually convenience credit" being used simply as a handy way of paying bills rather than a handy way of borrowing.@@@@1@28@@oe@2-2-2013
21389018@unknown@formal@none@1@S@In addition, he says, "longer maturities on automobile and other forms of installment credit boost the stock of debt faster than the flow of repayments and the accompanying payment burden."@@@@1@30@@oe@2-2-2013
21389019@unknown@formal@none@1@S@And if you "consider the changing distribution of credit," Mr. Durkin says, "much of the increase in debt in recent years is due to increasing credit use by higher-income families," that is, "those probably best able to handle it."@@@@1@39@@oe@2-2-2013
21389020@unknown@formal@none@1@S@Citing figures on home-equity loans, he notes that "11% of homeowners had home-equity credit accounts, but the proportion rises to 16% of homeowners in the $45,000-$60,000 income range and 23% of homeowners with income above $60,000."@@@@1@36@@oe@2-2-2013
21389021@unknown@formal@none@1@S@And much home-equity credit is used conservatively.@@@@1@7@@oe@2-2-2013
21389022@unknown@formal@none@1@S@"The most frequent use is home improvement, which presumably improves the value of the property," Mr. Durkin says.@@@@1@18@@oe@2-2-2013
21389023@unknown@formal@none@1@S@So, it isn't surprising that consumer-credit delinquencies at banks remain, as the chart shows, reassuringly below some earlier highs (see accompanying illustration -- WSJ Oct. 23, 1989).@@@@1@27@@oe@2-2-2013
21389024@unknown@formal@none@1@S@A severe recession could, of course, raise delinquency rates, but so far the current levels of consumer debt don't seem to loom as a major threat.@@@@1@26@@oe@2-2-2013
21389025@unknown@formal@none@1@S@In fact, the current weakness in auto buying and department-store sales and the gradual upturn in the household saving rate suggest that consumers, conservative as ever, are already clutching their purses a bit more tightly.@@@@1@35@@oe@2-2-2013
21389026@unknown@formal@none@1@S@In July, consumer installment credit outstanding fell for the first time since January 1987.@@@@1@14@@oe@2-2-2013
21389027@unknown@formal@none@1@S@"Consumers appear unwilling to add to their leverage to support their spending," Bruce Steinberg, a Merrill Lynch economist, says.@@@@1@19@@oe@2-2-2013
21389028@unknown@formal@none@1@S@"As a result, household debt appears to be stabilizing at around 63% of GNP."@@@@1@14@@oe@2-2-2013
21389029@unknown@formal@none@1@S@Consumers, credit cards in hand, aren't running amok through the shopping malls -- or putting the economy at any great risk.@@@@1@21@@oe@2-2-2013
21390001@unknown@formal@none@1@S@Maidenform Inc. loves to be intimate with its customers, but not with the rest of the public.@@@@1@17@@oe@2-2-2013
21390002@unknown@formal@none@1@S@The 67-year-old maker of brassieres, panties, and lingerie enjoys one of the best-known brand images, but its financial profile is closely guarded by members of the founding family.@@@@1@28@@oe@2-2-2013
21390003@unknown@formal@none@1@S@"There are very few companies that can boast of such a close-knit group," says Robert A. Brawer, 52 years old, recently named president, succeeding Beatrice Coleman, his mother-in-law, who remains chairman.@@@@1@31@@oe@2-2-2013
21390004@unknown@formal@none@1@S@"We are a vanishing breed," he muses.@@@@1@7@@oe@2-2-2013
21390005@unknown@formal@none@1@S@Mrs. Coleman, 73, who declined to be interviewed, is the Maidenform strategist.@@@@1@12@@oe@2-2-2013
21390006@unknown@formal@none@1@S@Sales have tripled during her 21-year tenure to about $200 million in 1988.@@@@1@13@@oe@2-2-2013
21390007@unknown@formal@none@1@S@Maidenform says it is very profitable but declines to provide specifics.@@@@1@11@@oe@2-2-2013
21390008@unknown@formal@none@1@S@The company sells image.@@@@1@4@@oe@2-2-2013
21390009@unknown@formal@none@1@S@Its current ad campaign, on which Maidenform has spent more than $15 million since fall 1987, doesn't even show its underwear products, but rather men like Christopher Reeve, star of the "Superman" movies, talking about their lingerie turn-ons.@@@@1@38@@oe@2-2-2013
21390010@unknown@formal@none@1@S@The Maidenform name "is part of American pop culture," says Joan Sinopoli, account supervisor of the campaign by Levine, Huntley, Schmidt & Beaver, a New York ad firm.@@@@1@28@@oe@2-2-2013
21390011@unknown@formal@none@1@S@Maidenform generated such memorable campaigns as "I dreamed I . . . in my Maidenform bra," and "The Maidenform woman.@@@@1@20@@oe@2-2-2013
21390012@unknown@formal@none@1@S@You never know where she'll turn up."@@@@1@7@@oe@2-2-2013
21390013@unknown@formal@none@1@S@"Capitalizing on the brand is key," says Mr. Brawer, whose immediate plans include further international expansion and getting better control of distribution outside the U.S.@@@@1@25@@oe@2-2-2013
21390014@unknown@formal@none@1@S@"The intimate apparel industry is perceived to be a growth industry and clearly {Maidenform} is a force to be reckoned with," says David S. Leibowitz, a special situations analyst at American Securities Corp. in New York.@@@@1@36@@oe@2-2-2013
21390015@unknown@formal@none@1@S@Although working women are "forced to wear the uniform of the day, to retain their femininity they are buying better quality, more upscale intimate apparel," he said.@@@@1@27@@oe@2-2-2013
21390016@unknown@formal@none@1@S@Although Mr. Brawer's appointment as president was long expected, the move on Sept. 25 precipitated the resignation of Alan Lesk as senior vice president of sales and merchandising.@@@@1@28@@oe@2-2-2013
21390017@unknown@formal@none@1@S@Three days later, Mr. Lesk was named president and chief executive officer of Olga Co., a competing intimate apparel division of Warnaco Inc.@@@@1@23@@oe@2-2-2013
21390018@unknown@formal@none@1@S@Warnaco also owns Warners, another major intimate apparel maker.@@@@1@9@@oe@2-2-2013
21390019@unknown@formal@none@1@S@Mr. Lesk couldn't be reached to comment.@@@@1@7@@oe@2-2-2013
21390020@unknown@formal@none@1@S@But Maidenform officials say that after spending 24 years at Maidenform, Mr. Lesk, 48, made it clear he wanted the top job.@@@@1@22@@oe@2-2-2013
21390021@unknown@formal@none@1@S@"If you want the presidency of the company, this isn't the firm to work for," says James Mogan, 45, who was named senior vice president of sales, assuming some of the responsibilities of Mr. Lesk.@@@@1@35@@oe@2-2-2013
21390022@unknown@formal@none@1@S@The company downplayed the loss of Mr. Lesk and split his merchandising responsibilities among a committee of four people.@@@@1@19@@oe@2-2-2013
21390023@unknown@formal@none@1@S@"My style is less informal," Mr. Brawer says.@@@@1@8@@oe@2-2-2013
21390024@unknown@formal@none@1@S@Top officers insist Maidenform's greatest strength is its family ownership.@@@@1@10@@oe@2-2-2013
21390025@unknown@formal@none@1@S@"You can't go anywhere in this company and find an organizational chart," one delights.@@@@1@14@@oe@2-2-2013
21390026@unknown@formal@none@1@S@"It is fun competing as a private company," Mr. Brawer says.@@@@1@11@@oe@2-2-2013
21390027@unknown@formal@none@1@S@"You can think long range."@@@@1@5@@oe@2-2-2013
21390028@unknown@formal@none@1@S@Other major players in intimate apparel apparently feel the same way.@@@@1@11@@oe@2-2-2013
21390029@unknown@formal@none@1@S@Warnaco was taken private by Spectrum Group in 1986 for about $487 million.@@@@1@13@@oe@2-2-2013
21390030@unknown@formal@none@1@S@And last year, Playtex Holdings Inc. went private for about $680 million.@@@@1@12@@oe@2-2-2013
21390031@unknown@formal@none@1@S@It was then split into Playtex Apparel Inc., the intimate apparel division, and Playtex Family Products Corp., which makes tampons, hair-care items and other products.@@@@1@25@@oe@2-2-2013
21390032@unknown@formal@none@1@S@Publicly traded VF Corp., which owns Vanity Fair, and Sara Lee Corp., which owns Bali Co., are also strong forces in intimate apparel.@@@@1@23@@oe@2-2-2013
21390033@unknown@formal@none@1@S@Buy-out offers for Maidenform aren't infrequent, says Executive Vice President David C. Masket, but they aren't taken very seriously.@@@@1@19@@oe@2-2-2013
21390034@unknown@formal@none@1@S@When he gets calls, "I don't even have to consult" with Mrs. Coleman, Mr. Masket says.@@@@1@16@@oe@2-2-2013
21390035@unknown@formal@none@1@S@The company could command a good price in the market.@@@@1@10@@oe@2-2-2013
21390036@unknown@formal@none@1@S@"Over the past three and a half years, apparel companies, many of whom have strong brand names, have been bought at about 60% of sales," says Deborah Bronston, Prudential-Bache Securities Inc. apparel analyst.@@@@1@33@@oe@2-2-2013
21390037@unknown@formal@none@1@S@Mr. Brawer, along with Mrs. Coleman and her daughter, Elizabeth, an attorney who is vice chairman, are the family members involved in the operations of Maidenform, which employs about 5,000.@@@@1@30@@oe@2-2-2013
21390038@unknown@formal@none@1@S@Mr. Brawer's wife, Catherine, and Robert Stroup, Elizabeth's husband, round out the five-member board.@@@@1@14@@oe@2-2-2013
21390039@unknown@formal@none@1@S@Each has an equal vote at the monthly meetings.@@@@1@9@@oe@2-2-2013
21390040@unknown@formal@none@1@S@"We are all very amiable," Mr. Brawer says.@@@@1@8@@oe@2-2-2013
21390041@unknown@formal@none@1@S@Executives say Mrs. Coleman is very involved in the day-to-day operations, especially product development.@@@@1@14@@oe@2-2-2013
21390042@unknown@formal@none@1@S@In the late 1960s she designed a lightweight stretch bra that boosted sales.@@@@1@13@@oe@2-2-2013
21390043@unknown@formal@none@1@S@Her father, William Rosenthal, designed the then-dress making company's first bra in the 1920s, which he said gave women a "maiden form" compared with the "boyish form" they got from the "flat bandages" used for support at the time.@@@@1@39@@oe@2-2-2013
21390044@unknown@formal@none@1@S@While Mr. Rosenthal introduced new undergarment designs, his wife, Ida, concentrated on sales and other financial matters.@@@@1@17@@oe@2-2-2013
21390045@unknown@formal@none@1@S@The name Maidenform was coined by a third business partner, Enid Bissett.@@@@1@12@@oe@2-2-2013
21390046@unknown@formal@none@1@S@The company has 14 plants and distribution facilities in the U.S., Puerto Rico, other parts of the Caribbean and Ireland.@@@@1@20@@oe@2-2-2013
21390047@unknown@formal@none@1@S@Maidenform products are mainly sold at department stores, but the company has quietly opened a retail store of its own in Omaha, Neb., and has 24 factory outlets, with plans to add more.@@@@1@33@@oe@2-2-2013
21390048@unknown@formal@none@1@S@Before joining Maidenform in 1972, Mr. Brawer, who holds a doctoral degree in English from the University of Chicago, taught at the University of Wisconsin.@@@@1@25@@oe@2-2-2013
21390049@unknown@formal@none@1@S@As a senior vice president, he has headed the company's designer lingerie division, Oscar de la Renta, since its inception in 1988.@@@@1@22@@oe@2-2-2013
21390050@unknown@formal@none@1@S@To maintain exclusivity of that designer line, it isn't labeled with the Maidenform name.@@@@1@14@@oe@2-2-2013
21390051@unknown@formal@none@1@S@While the company has always been family-run, Mr. Brawer isn't the first person to marry into the family and subsequently head Maidenform.@@@@1@22@@oe@2-2-2013
21390052@unknown@formal@none@1@S@Mrs. Coleman's husband, Joseph, a physician, succeeded Mrs. Rosenthal as president and served in that post until his death in 1968.@@@@1@21@@oe@2-2-2013
21391001@unknown@formal@none@1@S@China could exhaust its foreign-exchange reserves as early as next year, a Western government report says, unless imports are cut drastically to help narrow the balance-of-payments deficit.@@@@1@27@@oe@2-2-2013
21391002@unknown@formal@none@1@S@According to the report, completed last month, if China's trade gap continues to widen at the pace seen in the first seven months of this year, the reserves would be wiped out either in 1990 or 1991.@@@@1@37@@oe@2-2-2013
21391003@unknown@formal@none@1@S@A country is considered financially healthy if its reserves cover three months of its imports.@@@@1@15@@oe@2-2-2013
21391004@unknown@formal@none@1@S@The $14 billion of reserves China had in June would cover just that much.@@@@1@14@@oe@2-2-2013
21391005@unknown@formal@none@1@S@The report by the Western government, which declines to be identified, concludes that "a near-term foreign-exchange payment problem can be avoided only if import growth drops to below 5% per annum."@@@@1@31@@oe@2-2-2013
21391006@unknown@formal@none@1@S@According to Chinese customs figures, import growth has slowed in recent months, dropping to 16% in July and 7.1% in August from the year-earlier periods, compared with an average growth rate of 26% in the first half.@@@@1@37@@oe@2-2-2013
21391007@unknown@formal@none@1@S@But before import growth slowed, China's buying spree in the first half already had taken its toll on foreign-exchange reserves.@@@@1@20@@oe@2-2-2013
21391008@unknown@formal@none@1@S@The $14 billion level in June marked a drop from $19 billion at the end of April.@@@@1@17@@oe@2-2-2013
21391009@unknown@formal@none@1@S@China's last big import binge sent reserves tumbling to $10.6 billion in June 1985 from $16.6 billion the previous September.@@@@1@20@@oe@2-2-2013
21391010@unknown@formal@none@1@S@China might stave off a crisis if it acts as forcefully as it did to arrest the 1985 decline, when Beijing slammed the brakes on foreign-exchange spending and devalued the currency.@@@@1@31@@oe@2-2-2013
21391011@unknown@formal@none@1@S@But this time, China faces a more difficult battle because of economic forces that have come into play since the Tiananmen Square killings June 4.@@@@1@25@@oe@2-2-2013
21391012@unknown@formal@none@1@S@For example, China's hard-currency income is expected to suffer from the big drop in tourist arrivals since June 4.@@@@1@19@@oe@2-2-2013
21391013@unknown@formal@none@1@S@Revenue from tourism this year is projected to total $1.3 billion, down from $2.2 billion last year.@@@@1@17@@oe@2-2-2013
21391014@unknown@formal@none@1@S@Because of this and the huge trade gap, the deficit in China's current account, which measures trade in goods and services plus certain unilateral transfers of funds, is expected to widen sharply from the $3.8 billion deficit last year.@@@@1@39@@oe@2-2-2013
21391015@unknown@formal@none@1@S@The Western government report suggests a number of scenarios for China's current-account balance, two of which are considered most likely.@@@@1@20@@oe@2-2-2013
21391016@unknown@formal@none@1@S@In one, imports and exports continue to grow at the respective average rates of 25% and 5% recorded during the first seven months, and the current-account deficit widens to $13.1 billion.@@@@1@31@@oe@2-2-2013
21391017@unknown@formal@none@1@S@In 1985, China had a record deficit of $11.4 billion.@@@@1@10@@oe@2-2-2013
21391018@unknown@formal@none@1@S@The other scenario assumes that Beijing takes effective actions to curb imports in the coming months.@@@@1@16@@oe@2-2-2013
21391019@unknown@formal@none@1@S@In this case, China would still finish the year with a current-account deficit of $8.7 billion, based on projections that imports for all of this year grow 20% and exports 10%.@@@@1@31@@oe@2-2-2013
21391020@unknown@formal@none@1@S@If China were still on good terms with foreign lenders, it might be able to stem the drain on its foreign-exchange reserves by using some loan funds to offset the current-account deficit.@@@@1@32@@oe@2-2-2013
21391021@unknown@formal@none@1@S@But since June, foreign bankers led by international financial institutions have virtually suspended their new loans to China.@@@@1@18@@oe@2-2-2013
21391022@unknown@formal@none@1@S@Even if borrowing resumes, commercial bankers aren't expected to lend as much as before.@@@@1@14@@oe@2-2-2013
21391023@unknown@formal@none@1@S@In addition, economists are forecasting a slowdown in foreign direct investments as businessmen become increasingly wary of China's deteriorating political and economic environment.@@@@1@23@@oe@2-2-2013
21391024@unknown@formal@none@1@S@On top of all this, foreign-debt repayments are expected to peak in 1991 to 1992.@@@@1@15@@oe@2-2-2013
21391025@unknown@formal@none@1@S@With less capital coming in, China's balance of payments would suffer.@@@@1@11@@oe@2-2-2013
21391026@unknown@formal@none@1@S@The Western government report's first scenario assumes a 30% reduction in foreign borrowing and a 5% contraction in foreign direct investment.@@@@1@21@@oe@2-2-2013
21391027@unknown@formal@none@1@S@In the second, foreign borrowing is projected to grow 10% and investment to drop 10%.@@@@1@15@@oe@2-2-2013
21391028@unknown@formal@none@1@S@But in either case, the report says, China's balance of payments would rapidly dry up foreign reserves, which are used to finance the imbalance.@@@@1@24@@oe@2-2-2013
21391029@unknown@formal@none@1@S@In the first scenario, the reserves would be exhausted next year, and in the second they would be wiped out in 1991.@@@@1@22@@oe@2-2-2013
21392001@unknown@formal@none@1@S@Roche Holding AG, parent of the Swiss chemical and pharmaceutical group, said its group sales rose 22% in the first nine months of the year to 7.32 billion francs ($4.51 billion).@@@@1@31@@oe@2-2-2013
21392002@unknown@formal@none@1@S@The company reported good gains in all of its divisions.@@@@1@10@@oe@2-2-2013
21392003@unknown@formal@none@1@S@Roche also said it expects a "considerable rise" in 1989 group profit from the 641.5 million-franc ($396 million) net in 1988.@@@@1@21@@oe@2-2-2013
21393001@unknown@formal@none@1@S@New Canaan Investments Inc. said it closed the acquisition of Carr-Lowrey Glass Co. from Newell Co., a Freeport, Ill., maker of do-it-yourself home products.@@@@1@24@@oe@2-2-2013
21393002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21393003@unknown@formal@none@1@S@Carr-Lowrey, a maker of glass bottles for the cosmetics and toiletries industries, had sales last year of about $40 million.@@@@1@20@@oe@2-2-2013
21393004@unknown@formal@none@1@S@New Canaan Investments is a closely held investment partnership with interests primarily in the packaging industry.@@@@1@16@@oe@2-2-2013
21394001@unknown@formal@none@1@S@Ralph Brown was 31,000 feet over Minnesota when both jets on his Falcon 20 flamed out.@@@@1@16@@oe@2-2-2013
21394002@unknown@formal@none@1@S@At 18,000 feet, he says, he and his co-pilot "were looking for an interstate or a cornfield" to land.@@@@1@19@@oe@2-2-2013
21394003@unknown@formal@none@1@S@At 13,000 feet, the engines restarted.@@@@1@6@@oe@2-2-2013
21394004@unknown@formal@none@1@S@But knowing that mechanics would probably ground him for repairs, Mr. Brown skipped his stop in nearby Chicago and set course to get his load -- a few hundred parcels -- to the Memphis package-sorting hub on time.@@@@1@38@@oe@2-2-2013
21394005@unknown@formal@none@1@S@Had he been a little less gung-ho, "I'd have gotten the thing on the ground and headed for the nearest bar," Mr. Brown says.@@@@1@24@@oe@2-2-2013
21394006@unknown@formal@none@1@S@But he flies for Federal Express Corp., perhaps the closest thing in corporate America to the Green Berets.@@@@1@18@@oe@2-2-2013
21394007@unknown@formal@none@1@S@Federal's employees work long hours and seem to thrive on the stress of racing the clock.@@@@1@16@@oe@2-2-2013
21394008@unknown@formal@none@1@S@Like Mr. Brown, they sometimes go to surprising lengths to meet that overarching corporate goal: delivering the goods on time.@@@@1@20@@oe@2-2-2013
21394009@unknown@formal@none@1@S@They are a tribute to Federal's management which, since the company's founding 16 years ago, has had its way with its work force -- an unusual feat in the contentious transportation industry.@@@@1@32@@oe@2-2-2013
21394010@unknown@formal@none@1@S@That may soon change.@@@@1@4@@oe@2-2-2013
21394011@unknown@formal@none@1@S@This month, Federal's 2,048 pilots, including some 961 acquired along with Tiger International Inc. in February, will decide whether to elect the powerful Air Line Pilots Association as their bargaining agent.@@@@1@31@@oe@2-2-2013
21394012@unknown@formal@none@1@S@The election, which would bring the first major union to Federal's U.S. operations, has pitted new hires against devoted veterans such as Mr. Brown.@@@@1@24@@oe@2-2-2013
21394013@unknown@formal@none@1@S@It has also rattled Federal's strongly anti-union management, which is already contending with melding far-flung operations and with falling profits.@@@@1@20@@oe@2-2-2013
21394014@unknown@formal@none@1@S@"A union, sooner or later, has to have an adversary, and it has to have a victory," Frederick W. Smith, Federal's chairman and chief executive, says with disdain.@@@@1@28@@oe@2-2-2013
21394015@unknown@formal@none@1@S@"In our formula, we don't have any losers except the competition."@@@@1@11@@oe@2-2-2013
21394016@unknown@formal@none@1@S@What managers really fear is that the pro-union movement could spread beyond the pilots.@@@@1@14@@oe@2-2-2013
21394017@unknown@formal@none@1@S@Under federal transportation law, a government mediator is attempting to reconcile the melding of Tiger's job classifications into Federal's.@@@@1@19@@oe@2-2-2013
21394018@unknown@formal@none@1@S@Depending on the outcome, the merged company may face union elections this fall among airplane mechanics, ramp workers, stock clerks and flight dispatchers.@@@@1@23@@oe@2-2-2013
21394019@unknown@formal@none@1@S@These groups constitute up to 10% of its work force.@@@@1@10@@oe@2-2-2013
21394020@unknown@formal@none@1@S@"Unions would have a profound effect on the whole culture of the company," says Bernard La Londe, a professor at Ohio State University at Columbus and a Federal consultant.@@@@1@29@@oe@2-2-2013
21394021@unknown@formal@none@1@S@That culture, carefully crafted by Mr. Smith, leaves little, if any, room for unions.@@@@1@14@@oe@2-2-2013
21394022@unknown@formal@none@1@S@Since founding the company, the charismatic Vietnam vet, who is still only 46 years old, has fostered an ethos of combat.@@@@1@21@@oe@2-2-2013
21394023@unknown@formal@none@1@S@Flights are "missions."@@@@1@3@@oe@2-2-2013
21394024@unknown@formal@none@1@S@Mr. Smith's managers have, at times, been called "Ho Chi Minh's Guerrillas."@@@@1@12@@oe@2-2-2013
21394025@unknown@formal@none@1@S@The Bravo Zulu award, the Navy accolade for a "job well done," is bestowed on Federal's workers who surpass the call of duty.@@@@1@23@@oe@2-2-2013
21394026@unknown@formal@none@1@S@Competitors are known as the "enemy."@@@@1@6@@oe@2-2-2013
21394027@unknown@formal@none@1@S@To reinforce employees' dedication, Mr. Smith pays well.@@@@1@8@@oe@2-2-2013
21394028@unknown@formal@none@1@S@He also lets workers vent steam through an elaborate grievance procedure and, as a perk, fly free in empty cockpit seats.@@@@1@21@@oe@2-2-2013
21394029@unknown@formal@none@1@S@He gives pep talks in periodic "family briefings" beamed internationally on "FXTV," the company's own television network.@@@@1@17@@oe@2-2-2013
21394030@unknown@formal@none@1@S@And, with many of his 70,000 workers, Mr. Smith's damn-the-torpedoes attitude has caught on.@@@@1@14@@oe@2-2-2013
21394031@unknown@formal@none@1@S@James Cleveland, a courier who earned a Bravo Zulu for figuring out how to get a major customer's 1,100-parcel-a-week load to its doorstep by 8 a.m., considers himself far more than a courier.@@@@1@33@@oe@2-2-2013
21394032@unknown@formal@none@1@S@"We don't just hand the customer the package.@@@@1@8@@oe@2-2-2013
21394033@unknown@formal@none@1@S@That's just the beginning," he says.@@@@1@6@@oe@2-2-2013
21394034@unknown@formal@none@1@S@"In essence, we run the show."@@@@1@6@@oe@2-2-2013
21394035@unknown@formal@none@1@S@David Sanders, a longtime pilot, bristles at the mere suggestion that a union might tamper with his flight schedule.@@@@1@19@@oe@2-2-2013
21394036@unknown@formal@none@1@S@"This is America," he says.@@@@1@5@@oe@2-2-2013
21394037@unknown@formal@none@1@S@"Nobody has the right to tell me how much I can work."@@@@1@12@@oe@2-2-2013
21394038@unknown@formal@none@1@S@Such attitudes have given Federal flexibility, not only to rapidly implement new technology but to keep its work force extraordinarily lean.@@@@1@21@@oe@2-2-2013
21394039@unknown@formal@none@1@S@The company deliberately understaffs, stretching employees' schedules to the limit.@@@@1@10@@oe@2-2-2013
21394040@unknown@formal@none@1@S@But though couriers work as many as 60 hours a week during the autumn rush, they leave early during slack times while still being assured of a minimum paycheck.@@@@1@29@@oe@2-2-2013
21394041@unknown@formal@none@1@S@Pilots, as well, routinely fly overtime to ensure that none are furloughed during seasonal lows.@@@@1@15@@oe@2-2-2013
21394042@unknown@formal@none@1@S@The operational freedom has also given Federal a leg up on archrival United Parcel Service Inc., the nation's largest employer of United Brotherhood of Teamsters members.@@@@1@26@@oe@2-2-2013
21394043@unknown@formal@none@1@S@UPS won't discuss its labor practices, but, according to Mr. Cleveland, a former UPS employee, and others, union work rules prohibit UPS drivers from doing more than carrying packages between customers and their vans.@@@@1@34@@oe@2-2-2013
21394044@unknown@formal@none@1@S@Because UPS drivers aren't permitted to load their own vehicles at the depot, say these couriers, packages often get buried in the load and are delivered late.@@@@1@27@@oe@2-2-2013
21394045@unknown@formal@none@1@S@Labor problems are the last thing Mr. Smith needs right now.@@@@1@11@@oe@2-2-2013
21394046@unknown@formal@none@1@S@Although the Tiger acquisition has brought Federal a long way toward becoming the global player it wants to be, it also has brought problems.@@@@1@24@@oe@2-2-2013
21394047@unknown@formal@none@1@S@It more than doubled Federal's long-term debt to $1.9 billion, thrust the company into unknown territory -- heavy cargo -- and suddenly expanded its landing rights to 21 countries from four.@@@@1@31@@oe@2-2-2013
21394048@unknown@formal@none@1@S@Federal, on its own, hadn't been doing very well overseas.@@@@1@10@@oe@2-2-2013
21394049@unknown@formal@none@1@S@It had hemorrhaged in its attempt to get into Asia, where treaty restrictions forced it to fly some planes half-empty on certain routes.@@@@1@23@@oe@2-2-2013
21394050@unknown@formal@none@1@S@On routes to South America, the company had no backup jets to ensure delivery when planes were grounded.@@@@1@18@@oe@2-2-2013
21394051@unknown@formal@none@1@S@In Europe, business suffered as Federal bought several local companies, only to have the managers quit.@@@@1@16@@oe@2-2-2013
21394052@unknown@formal@none@1@S@These and other problems squeezed Federal's profit margins last year to 8%, down from more than 13% annually in the first half of the decade.@@@@1@25@@oe@2-2-2013
21394053@unknown@formal@none@1@S@Earnings have plummeted, too, in each of the past three quarters.@@@@1@11@@oe@2-2-2013
21394054@unknown@formal@none@1@S@In the fiscal first period ended Aug. 31, profit fell 54% to $30.4 million, or 58 cents a share, mostly because of the Tiger merger, Federal says.@@@@1@27@@oe@2-2-2013
21394055@unknown@formal@none@1@S@Federal's stock price, however, has held up well, driven in part by the general run-up of airline stocks, analysts say.@@@@1@20@@oe@2-2-2013
21394056@unknown@formal@none@1@S@Since trading as low as $42.25 a share in May, Federal's shares have rallied as high as $57.87 in New York Stock Exchange composite trading.@@@@1@25@@oe@2-2-2013
21394057@unknown@formal@none@1@S@They closed Friday at $53.25, down 50 cents on the day.@@@@1@11@@oe@2-2-2013
21394058@unknown@formal@none@1@S@There's a certain irony in the fact that Federal Express faces its first union problems as a result of its Tiger purchase.@@@@1@22@@oe@2-2-2013
21394059@unknown@formal@none@1@S@Tiger itself was founded by a band of gungho airmen who had airlifted supplies "over the Hump" from India to China during World War II.@@@@1@25@@oe@2-2-2013
21394060@unknown@formal@none@1@S@In the early 1970s, Mr. Smith modeled his fledgling company on Tiger's innovation of hub-and-spoke and containerized-cargo operations.@@@@1@18@@oe@2-2-2013
21394061@unknown@formal@none@1@S@But from early on, Tiger's workers unionized, while Federal's never have.@@@@1@11@@oe@2-2-2013
21394062@unknown@formal@none@1@S@Federal Express officials acknowledge mistakes in their drive overseas but say it will pay off eventually.@@@@1@16@@oe@2-2-2013
21394063@unknown@formal@none@1@S@Analysts expect Federal's earnings to improve again in its fiscal third quarter ending Feb. 28, when the company should begin benefiting from Tiger's extra flights, back-up planes and landing rights.@@@@1@30@@oe@2-2-2013
21394064@unknown@formal@none@1@S@Until then, they expect the cost of integrating the two carriers to continue crimping profits.@@@@1@15@@oe@2-2-2013
21394065@unknown@formal@none@1@S@For now, the union issue is the most nettlesome of Federal's Tiger problems, management believes.@@@@1@15@@oe@2-2-2013
21394066@unknown@formal@none@1@S@Although encouraging dialogue between managers and workers, Mr. Smith doesn't countenance what he considers insubordination.@@@@1@15@@oe@2-2-2013
21394067@unknown@formal@none@1@S@When a large group of pilots once signed petitions opposing work-rule and compensation changes, he called a meeting in a company hangar and dressed them down for challenging his authority.@@@@1@30@@oe@2-2-2013
21394068@unknown@formal@none@1@S@He then made most of the changes, pilots say.@@@@1@9@@oe@2-2-2013
21394069@unknown@formal@none@1@S@That sort of approach, however, hasn't worked since the addition of Tiger.@@@@1@12@@oe@2-2-2013
21394070@unknown@formal@none@1@S@Its 6,500 workers, who had battled Tiger's management for years over givebacks, were union members until the day of the merger, when most of their unions were automatically decertified.@@@@1@29@@oe@2-2-2013
21394071@unknown@formal@none@1@S@Soon after the merger, moreover, Federal's management asked Tiger's pilots to sign an agreement stating that they could be fired any time, without cause or notice.@@@@1@26@@oe@2-2-2013
21394072@unknown@formal@none@1@S@When the pilots refused, the company retracted it.@@@@1@8@@oe@2-2-2013
21394073@unknown@formal@none@1@S@Mr. Smith angered Federal's pilots, too.@@@@1@6@@oe@2-2-2013
21394074@unknown@formal@none@1@S@In his haste to seal the deal with Tiger Chairman Saul Steinberg last August, Mr. Smith ignored a promise that he had made to his own pilots three years ago: that any fliers acquired in future mergers would be "end-tailed" -- put at the bottom of the pilot seniority list that determines work schedules, pay and career options.@@@@1@58@@oe@2-2-2013
21394075@unknown@formal@none@1@S@The Tiger merger agreement stipulated that the lists be combined on the basis of tenure.@@@@1@15@@oe@2-2-2013
21394076@unknown@formal@none@1@S@Mr. Smith is trying hard to allay the anger.@@@@1@9@@oe@2-2-2013
21394077@unknown@formal@none@1@S@And even some pro-union pilots say his charisma and popularity among the many former military fliers could be tough to beat.@@@@1@21@@oe@2-2-2013
21394078@unknown@formal@none@1@S@"A lot of people are identifying a vote for representation as a vote against Fred Smith," says J.X. Gollich, a Tiger-turned-Federal pilot and union activist.@@@@1@25@@oe@2-2-2013
21394079@unknown@formal@none@1@S@Mr. Smith and other top Federal executives have met with Tiger workers in Los Angeles, Ohio, New York, Alaska, Asia and Europe.@@@@1@22@@oe@2-2-2013
21394080@unknown@formal@none@1@S@Recently, they have appeared every few weeks in talk-show type videos, countering pro-union arguments.@@@@1@14@@oe@2-2-2013
21394081@unknown@formal@none@1@S@In one video, Mr. Smith defended his agreement to merge the pilot-seniority lists.@@@@1@13@@oe@2-2-2013
21394082@unknown@formal@none@1@S@He said Mr. Steinberg had insisted that the merger talks move quickly.@@@@1@12@@oe@2-2-2013
21394083@unknown@formal@none@1@S@Regulators, as well, might have quashed the deal if Tiger's pilots hadn't been protected, he said.@@@@1@16@@oe@2-2-2013
21394084@unknown@formal@none@1@S@Furthermore, Mr. Smith added, "our contract with our pilots says that we will manage our fleet operations with their advice.@@@@1@20@@oe@2-2-2013
21394085@unknown@formal@none@1@S@It doesn't give any particular group the ability to veto change."@@@@1@11@@oe@2-2-2013
21394086@unknown@formal@none@1@S@Already, the fight has been costly.@@@@1@6@@oe@2-2-2013
21394087@unknown@formal@none@1@S@The seniority-list controversy, along with the job-classification dispute, has been turned over to the mediator.@@@@1@15@@oe@2-2-2013
21394088@unknown@formal@none@1@S@Meanwhile, the company is operating with two separate pilot groups and seniority lists, and that is costing Federal "a big number," says James Barksdale, executive vice president and chief operating officer.@@@@1@31@@oe@2-2-2013
21394089@unknown@formal@none@1@S@The issue has also cost Federal management a lot of good will among its old pilots.@@@@1@16@@oe@2-2-2013
21394090@unknown@formal@none@1@S@"They were willing to mistreat us because we hadn't shown any moxie, any resistance," says William Queenan, a DC-10 pilot and 14-year Federal veteran.@@@@1@24@@oe@2-2-2013
21394091@unknown@formal@none@1@S@Adds John Poag, a 727 captain and past chairman of the company-sponsored Flight Advisory Board: "They've made all these magnanimous gestures to the Flying Tiger pilots, and for us, nothing."@@@@1@30@@oe@2-2-2013
21394092@unknown@formal@none@1@S@Such animosity could prove pivotal in the union vote.@@@@1@9@@oe@2-2-2013
21394093@unknown@formal@none@1@S@A large majority of the 961 former Tiger fliers support the union, according to a union study.@@@@1@17@@oe@2-2-2013
21394094@unknown@formal@none@1@S@But though most of the 1,087 Federal pilots are believed opposed, it is unclear just how much their loyalty to Mr. Smith has been eroded.@@@@1@25@@oe@2-2-2013
21394095@unknown@formal@none@1@S@The fight has turned ugly and, among pilots at least, has shattered the esprit de corps that Mr. Smith worked so hard to build.@@@@1@24@@oe@2-2-2013
21394096@unknown@formal@none@1@S@Anti-union pilots have held ballot-burning parties.@@@@1@6@@oe@2-2-2013
21394097@unknown@formal@none@1@S@Some younger pilots say they have had to endure anti-union harangues by senior pilots while flying across the country.@@@@1@19@@oe@2-2-2013
21394098@unknown@formal@none@1@S@And for now, at least, the competition isn't the only enemy.@@@@1@11@@oe@2-2-2013
21394099@unknown@formal@none@1@S@Barney Barnhardt, a 727 captain and leader of the pro-union forces, said he has received two anonymous death threats and been challenged to a fight with tire irons by a colleague.@@@@1@31@@oe@2-2-2013
21394100@unknown@formal@none@1@S@"The pilots are either for us or extremely against us," he says with a sigh.@@@@1@15@@oe@2-2-2013
21395001@unknown@formal@none@1@S@Harsco Corp. said it obtained a $33.1 million export order for armored recovery vehicles and related support equipment.@@@@1@18@@oe@2-2-2013
21395002@unknown@formal@none@1@S@Harsco declined to say what country placed the order.@@@@1@9@@oe@2-2-2013
21395003@unknown@formal@none@1@S@The company said it received an order for 23 of the vehicles, which retrieve tanks and other heavy-tracked vehicles when they break down or are damaged, and an option for 16 more.@@@@1@32@@oe@2-2-2013
21395004@unknown@formal@none@1@S@Delivery is to begin in early 1991.@@@@1@7@@oe@2-2-2013
21395005@unknown@formal@none@1@S@Harsco produces products for defense, industrial, commercial and construction markets.@@@@1@10@@oe@2-2-2013
21396001@unknown@formal@none@1@S@The Senate convicted U.S. District Judge Alcee Hastings of Florida of eight impeachment articles, removing the 53-year-old judge from his $89,500-a-year, lifetime job.@@@@1@23@@oe@2-2-2013
21396002@unknown@formal@none@1@S@Mr. Hastings's case was particularly nettlesome because it marked the first time a federal official was impeached and removed from office on charges of which a jury had acquitted him.@@@@1@30@@oe@2-2-2013
21396003@unknown@formal@none@1@S@In 1983, Mr. Hastings was found not guilty of accepting a $150,000 bribe in a case before him, the central charge on which the Senate convicted him.@@@@1@27@@oe@2-2-2013
21396004@unknown@formal@none@1@S@He was only the sixth federal judge ever ousted from office after an impeachment trial.@@@@1@15@@oe@2-2-2013
21396005@unknown@formal@none@1@S@With no floor debate, the Senate on Friday voted 69-26 to convict Mr. Hastings of perjury and conspiring to accept a bribe, five votes more than needed.@@@@1@27@@oe@2-2-2013
21396006@unknown@formal@none@1@S@Conviction on any single impeachment article was enough to remove Judge Hastings from office.@@@@1@14@@oe@2-2-2013
21396007@unknown@formal@none@1@S@He was found not guilty of three charges, involving accusations that he had improperly disclosed information about a sensitive, government investigation.@@@@1@21@@oe@2-2-2013
21396008@unknown@formal@none@1@S@The Senate didn't vote on six lesser charges.@@@@1@8@@oe@2-2-2013
21396009@unknown@formal@none@1@S@Although Mr. Hastings had been acquitted by a jury, lawmakers handling the prosecution in Congress had argued that the purpose of impeachment isn't to punish an individual.@@@@1@27@@oe@2-2-2013
21396010@unknown@formal@none@1@S@Instead, they argued that impeachment aims to protect public institutions from people who have abused their positions of trust, irrespective of the outcome of prior criminal or civil cases.@@@@1@29@@oe@2-2-2013
21396011@unknown@formal@none@1@S@Mr. Hastings faced the senators and sat impassively during the first two roll-call votes, then quickly left the chamber.@@@@1@19@@oe@2-2-2013
21396012@unknown@formal@none@1@S@In an impromptu news conference on the Capitol steps, he denounced the senators' action.@@@@1@14@@oe@2-2-2013
21396013@unknown@formal@none@1@S@"Their opinion is devoid of the wisdom of the forefathers' teaching regarding impeachment," Mr. Hastings said.@@@@1@16@@oe@2-2-2013
21396014@unknown@formal@none@1@S@For the future, he said he would run for governor of Florida.@@@@1@12@@oe@2-2-2013
21396015@unknown@formal@none@1@S@Mr. Hastings was appointed to the federal bench by President Carter in 1979 and was one of the few black federal judges in the country.@@@@1@25@@oe@2-2-2013
21396016@unknown@formal@none@1@S@While he packed the Senate gallery with his supporters during some of the impeachment trial, most civil rights groups kept their distance from his case.@@@@1@25@@oe@2-2-2013
21396017@unknown@formal@none@1@S@Following the impeachment conviction, Dr. Benjamin Hooks, executive director of the National Association for the Advancement of Colored People, issued a restrained statement, warning that the Hastings case could set a "dangerous precedent," but adding, "We must respect the considered judgment of the Senate.@@@@1@44@@oe@2-2-2013
21397001@unknown@formal@none@1@S@When last we left him, FBI Agent Nick Mancuso had solved a murder mystery, unraveled a Washington political scandal, and racked up some pretty good ratings numbers in the miniseries "Favorite Son."@@@@1@32@@oe@2-2-2013
21397002@unknown@formal@none@1@S@What next for the crusty FBI agent with the heart of gold?@@@@1@12@@oe@2-2-2013
21397003@unknown@formal@none@1@S@A spinoff series, of course.@@@@1@5@@oe@2-2-2013
21397004@unknown@formal@none@1@S@There are plenty of worse inspirations for shows -- and most of them had already made the fall lineup:@@@@1@19@@oe@2-2-2013
21397005@unknown@formal@none@1@S@a nun raising some lovable orphans.@@@@1@6@@oe@2-2-2013
21397006@unknown@formal@none@1@S@A den mother raising some lovable teen models.@@@@1@8@@oe@2-2-2013
21397007@unknown@formal@none@1@S@A bunch of tans and bathing suits posing as lovable lifeguards.@@@@1@11@@oe@2-2-2013
21397008@unknown@formal@none@1@S@In that context, Robert Loggia's riveting performance as the unlovable -- even crotchety -- veteran agent seems a better franchise for a series than most.@@@@1@25@@oe@2-2-2013
21397009@unknown@formal@none@1@S@Week by week on "Mancuso FBI" (NBC, Fridays, 10 p.m. ET), he pokes around the crime styles of the rich, famous and powerful of the Washington scene -- a loose cannon on deck at the FBI.@@@@1@36@@oe@2-2-2013
21397010@unknown@formal@none@1@S@Over the first few weeks, "Mancuso FBI" has sprung straight from the headlines, which is either a commendable stab at topicality, or a lack of imagination, or both.@@@@1@28@@oe@2-2-2013
21397011@unknown@formal@none@1@S@The opening show featured a secretary of defense designate accused of womanizing (a la John Tower).@@@@1@16@@oe@2-2-2013
21397012@unknown@formal@none@1@S@When his secretary is found floating dead in the pol's pool, Mancuso is called in to investigate.@@@@1@17@@oe@2-2-2013
21397013@unknown@formal@none@1@S@Last week, a young black girl claimed she had been raped by a white police officer (a la Tawana Brawley).@@@@1@20@@oe@2-2-2013
21397014@unknown@formal@none@1@S@In this week's show, there's an unsafe nuclear weaponsmaking facility (a la Rocky Flats).@@@@1@14@@oe@2-2-2013
21397015@unknown@formal@none@1@S@Along the way, we're introduced to the supporting cast: a blond bombshell secretary (Randi Brazen -- her real name, honest), a scheming young boss (Fredric Lehne), another blonde bombshell who's also an idealistic lawyer (Lindsay Frost), and a forensics expert (Charles Siebert).@@@@1@42@@oe@2-2-2013
21397016@unknown@formal@none@1@S@If all of this seems a little stale, it's redeemed in part by some tricky plot twists:@@@@1@17@@oe@2-2-2013
21397017@unknown@formal@none@1@S@The usual suspects are found to be guilty, then not guilty, then guilty -- but of a different crime.@@@@1@19@@oe@2-2-2013
21397018@unknown@formal@none@1@S@(In last week's rape case, for example, the girl turns out to have been a victim of incest, and the biggest villains are the politicians who exploit the case.)@@@@1@29@@oe@2-2-2013
21397019@unknown@formal@none@1@S@Most of all though, the show is redeemed by the character of Mancuso.@@@@1@13@@oe@2-2-2013
21397020@unknown@formal@none@1@S@What makes the veteran FBI man so endearing is his hard-bitten cynicism -- earned, we discover, when he was assigned to the civil rights movement back in the 1960s.@@@@1@29@@oe@2-2-2013
21397021@unknown@formal@none@1@S@He wasn't protecting the Freedom Marchers; he was tailing them as subversives.@@@@1@12@@oe@2-2-2013
21397022@unknown@formal@none@1@S@This is not the "Mississippi Burning" scenario that thrills his young colleagues: "Kid, you've been reading Classic Comics too long," Mancuso says.@@@@1@22@@oe@2-2-2013
21397023@unknown@formal@none@1@S@"Back in 1964, the FBI had five black agents.@@@@1@9@@oe@2-2-2013
21397024@unknown@formal@none@1@S@Three were chauffeurs for J. Edgar Hoover, and two cleaned his house."@@@@1@12@@oe@2-2-2013
21397025@unknown@formal@none@1@S@At the core of Mr. Loggia's Mancuso is his world-weary truculence.@@@@1@11@@oe@2-2-2013
21397026@unknown@formal@none@1@S@He describes a reporter as "Miss First Amendment."@@@@1@8@@oe@2-2-2013
21397027@unknown@formal@none@1@S@He describes a drowned corpse as "Esther Williams."@@@@1@8@@oe@2-2-2013
21397028@unknown@formal@none@1@S@And when he's told "Try a little tenderness," he shoots back "I'm going home to try a little linguine."@@@@1@19@@oe@2-2-2013
21397029@unknown@formal@none@1@S@Yet for all his cynicism, he's at heart a closet idealist, a softy with a secret crush on truth, justice and the American Way.@@@@1@24@@oe@2-2-2013
21397030@unknown@formal@none@1@S@He's the kind of guy who rescues trampled flags.@@@@1@9@@oe@2-2-2013
21397031@unknown@formal@none@1@S@If "Mancuso FBI" has an intriguing central character, it also has a major flaw:@@@@1@14@@oe@2-2-2013
21397032@unknown@formal@none@1@S@It's wildly overwritten.@@@@1@3@@oe@2-2-2013
21397033@unknown@formal@none@1@S@Executive Producers Steve Sohmer and Jeff Bleckner (and writer/producers Ken Solarz and Steve Bello) have revved this show up to the breaking point.@@@@1@23@@oe@2-2-2013
21397034@unknown@formal@none@1@S@To start, there's always a crisis -- and someone always worries, "What if the press gets a hold of this?"@@@@1@20@@oe@2-2-2013
21397035@unknown@formal@none@1@S@At least once an episode we see protestors marching around screaming slogans.@@@@1@12@@oe@2-2-2013
21397036@unknown@formal@none@1@S@At least once Mancuso's boss yells "In here -- now," and proceeds to dress his investigator down:@@@@1@17@@oe@2-2-2013
21397037@unknown@formal@none@1@S@"You are a dinosaur . . . a hangover in a $10 suit . . .@@@@1@16@@oe@2-2-2013
21397038@unknown@formal@none@1@S@One more word and you are out on a park bench, mister."@@@@1@12@@oe@2-2-2013
21397039@unknown@formal@none@1@S@Finally, of course, the boss gives in, but he's still yelling: "I find myself explaining anything to Teddy Kennedy, you'll be chasing stolen cars in Anchorage."@@@@1@26@@oe@2-2-2013
21397040@unknown@formal@none@1@S@In fact, throughout "Mancuso FBI," we don't get words or lines -- we get speeches.@@@@1@15@@oe@2-2-2013
21397041@unknown@formal@none@1@S@Witnesses shout, scream, pontificate: ". . . a dream that the planet could be saved from itself and from the sadistic dumb creatures who try to tear down every decent man who raises his voice."@@@@1@35@@oe@2-2-2013
21397042@unknown@formal@none@1@S@And Mancuso himself is investigating at the top of his lungs: "How the hell can you live with yourself?" he erupts at a politician.@@@@1@24@@oe@2-2-2013
21397043@unknown@formal@none@1@S@"You twist people's trust.@@@@1@4@@oe@2-2-2013
21397044@unknown@formal@none@1@S@You built your career on prejudice and hate.@@@@1@8@@oe@2-2-2013
21397045@unknown@formal@none@1@S@The scars will be here years after the polls close."@@@@1@10@@oe@2-2-2013
21397046@unknown@formal@none@1@S@In each show, Mancuso gets to unleash similar harangues:@@@@1@9@@oe@2-2-2013
21397047@unknown@formal@none@1@S@"Where the hell are they gonna live when people like you turn the world into a big toxic waste dump?@@@@1@20@@oe@2-2-2013
21397048@unknown@formal@none@1@S@You're the real criminal here . . . and what you did wasn't just a murder -- it was a crime against humanity."@@@@1@23@@oe@2-2-2013
21397049@unknown@formal@none@1@S@And, at least once a show, someone delivers the line "Get off that soapbox."@@@@1@14@@oe@2-2-2013
21397050@unknown@formal@none@1@S@Now that's advice the writers should take to heart.@@@@1@9@@oe@2-2-2013
21397051@unknown@formal@none@1@S@They have a series with a good character, some interesting, even occasionally surprising plot lines, and they're ruining it.@@@@1@19@@oe@2-2-2013
21397052@unknown@formal@none@1@S@Why, when a key witness disappears, does Mancuso trash her apartment, tearing down drapes, smashing walls?@@@@1@16@@oe@2-2-2013
21397053@unknown@formal@none@1@S@It's a bizarre and totally inappropriate reaction, all to add more pizzazz to a script that's already overdosing on pizzazz.@@@@1@20@@oe@2-2-2013
21397054@unknown@formal@none@1@S@That's not plot.@@@@1@3@@oe@2-2-2013
21397055@unknown@formal@none@1@S@That's not character.@@@@1@3@@oe@2-2-2013
21397056@unknown@formal@none@1@S@That's hyperventilating.@@@@1@2@@oe@2-2-2013
21397057@unknown@formal@none@1@S@There is a scene at the end of the first week's show where Mancuso attends the unveiling of the memorial to his dead partner David.@@@@1@25@@oe@2-2-2013
21397058@unknown@formal@none@1@S@Asked to say a few words, he pulls out his crumpled piece of paper and tries to talk, but he's too choked up to get the words out.@@@@1@28@@oe@2-2-2013
21397059@unknown@formal@none@1@S@He bangs on the piece of paper in frustration, then turns and walks away.@@@@1@14@@oe@2-2-2013
21397060@unknown@formal@none@1@S@It was a profoundly moving moment for series television, and Robert Loggia's acting resonated in the silence.@@@@1@17@@oe@2-2-2013
21397061@unknown@formal@none@1@S@There's a pretty good program inside all the noise of "Mancuso FBI."@@@@1@12@@oe@2-2-2013
21397062@unknown@formal@none@1@S@If the show's creators could just let themselves be quiet for a little, they might just hear it.@@@@1@18@@oe@2-2-2013
21398001@unknown@formal@none@1@S@With a Twist of the Wrist Boys with tops, and Frisbee tossers, And P.R. types with bees in their bonnet, Have a goal in common, all of them try To put the right spin on it.@@@@1@36@@oe@2-2-2013
21398002@unknown@formal@none@1@S@-- George O. Ludcke.@@@@1@4@@oe@2-2-2013
21398003@unknown@formal@none@1@S@Net Gain@@@@1@2@@oe@2-2-2013
21398004@unknown@formal@none@1@S@Investment letters now abound, I really like to read them; If I peruse enough, I've found I've no time left to heed them!@@@@1@23@@oe@2-2-2013
21398005@unknown@formal@none@1@S@-- Bern Sharfman.@@@@1@3@@oe@2-2-2013
21398006@unknown@formal@none@1@S@Daffynition@@@@1@1@@oe@2-2-2013
21398007@unknown@formal@none@1@S@TV evangelist: salesparson.@@@@1@3@@oe@2-2-2013
21398008@unknown@formal@none@1@S@-- Marguerite Whitley May.@@@@1@4@@oe@2-2-2013
21399001@unknown@formal@none@1@S@Texaco Inc. has purchased an oil-producing company in Texas for $476.5 million, its first major acquisition since its legal brawl with Pennzoil Co. began more than four years ago.@@@@1@29@@oe@2-2-2013
21399002@unknown@formal@none@1@S@The White Plains, N.Y., oil company said Friday that it had acquired Tana Production Corp., a subsidiary of TRT Energy Holdings Inc., for $95.1 million in cash, with the rest to be paid in shares of a new, non-voting issue of preferred stock.@@@@1@43@@oe@2-2-2013
21399003@unknown@formal@none@1@S@Tana, which holds properties in 17 oil and gas fields in south Texas, will provide Texaco with mostly gas reserves.@@@@1@20@@oe@2-2-2013
21399004@unknown@formal@none@1@S@The fields contain recoverable reserves of 435 billion cubic feet of natural gas and four million barrels of oil.@@@@1@19@@oe@2-2-2013
21399005@unknown@formal@none@1@S@"This acquisition is another indication of Texaco's commitment to increase the company's reserve base," said Chief Executive Officer James W. Kinnear.@@@@1@21@@oe@2-2-2013
21399006@unknown@formal@none@1@S@Texaco has also been attempting to sell oil properties.@@@@1@9@@oe@2-2-2013
21399007@unknown@formal@none@1@S@At least two years ago, the company put 60 million barrels of oil reserves on the block.@@@@1@17@@oe@2-2-2013
21399008@unknown@formal@none@1@S@They were either too small or uneconomic to maintain, the company said.@@@@1@12@@oe@2-2-2013
21399009@unknown@formal@none@1@S@Not all of those parcels have yet been sold.@@@@1@9@@oe@2-2-2013
21399010@unknown@formal@none@1@S@Texaco acquired Tana before it completed those sales because Tana's properties are high quality and near other fields Texaco already owns, a company spokeswoman said.@@@@1@25@@oe@2-2-2013
21399011@unknown@formal@none@1@S@Texaco, like many other oil companies, has been struggling to replace its falling oil and gas reserves.@@@@1@17@@oe@2-2-2013
21399012@unknown@formal@none@1@S@Texaco's situation had become particularly complex because much of its effort had for years been focused on its brawl with Pennzoil and then on New York investor Carl C. Icahn's attempt to take over the company.@@@@1@36@@oe@2-2-2013
21399013@unknown@formal@none@1@S@Pennzoil had sued Texaco for improperly interfering with its acquisition of a portion of Getty Oil Co.@@@@1@17@@oe@2-2-2013
21399014@unknown@formal@none@1@S@Eventually, Texaco, which was forced into bankruptcy proceedings by that litigation, settled its fight with Pennzoil for $3 billion in 1986.@@@@1@21@@oe@2-2-2013
21399015@unknown@formal@none@1@S@Mr. Icahn, who played a key role in the settlement and attempted subsequently to take control of the company, sold his stake in Texaco just last summer.@@@@1@27@@oe@2-2-2013
21399016@unknown@formal@none@1@S@Completion of Texaco's acquisition of Tana is subject to government approval under the Hart-Scott-Rodino Antitrust Improvements Act.@@@@1@17@@oe@2-2-2013
21400001@unknown@formal@none@1@S@CRI Inc. said it reduced the estimated cash distribution for its Capital Housing and Mortgage Partners Inc. trust to between 71 cents and 74 cents a share, from between 75 cents and 80 cents, for the year ending June 9, 1990.@@@@1@41@@oe@2-2-2013
21400002@unknown@formal@none@1@S@The change in expected cash distributions from the Champs real estate investment trust stems from a revised estimate of administrative costs, said Jay R. Cohen, Champs executive vice president.@@@@1@29@@oe@2-2-2013
21400003@unknown@formal@none@1@S@CRI, which sponsors Champs, is a world-wide real estate investment firm.@@@@1@11@@oe@2-2-2013
21401001@unknown@formal@none@1@S@H&R BLOCK Inc. had net income of $100.2 million, or $1.90 a share, in the fiscal year ended April 30.@@@@1@20@@oe@2-2-2013
21401002@unknown@formal@none@1@S@The figure was incorrectly shown as a net loss in a chart accompanying Friday's Heard on the Street column.@@@@1@19@@oe@2-2-2013
21402001@unknown@formal@none@1@S@Your Oct. 2 article on Daniel Yankelovich cited the quote "A good name is better than great riches" as being from Cervantes' "Don Quixote."@@@@1@24@@oe@2-2-2013
21402002@unknown@formal@none@1@S@Actually, Cervantes borrowed that quote from a writer of some 25 centuries earlier: Israel's King Solomon wrote those words in the Book of Proverbs (22:1).@@@@1@25@@oe@2-2-2013
21402003@unknown@formal@none@1@S@Michael E. Hill@@@@1@3@@oe@2-2-2013
21403001@unknown@formal@none@1@S@Japan had an unadjusted trade surplus of $1.82 billion for the first 10 days of October, down from $3.16 billion a year earlier, the Finance Ministry said.@@@@1@27@@oe@2-2-2013
21403002@unknown@formal@none@1@S@The latest drop shows the narrowing in the nation's trade gap reflected in successive full monthly reports is continuing.@@@@1@19@@oe@2-2-2013
21403003@unknown@formal@none@1@S@The report follows five-consecutive declines in full monthly figures.@@@@1@9@@oe@2-2-2013
21403004@unknown@formal@none@1@S@Imports rose sharply in the period, to $5.19 billion from $4.04 billion a year earlier, a change of 28%.@@@@1@19@@oe@2-2-2013
21403005@unknown@formal@none@1@S@Exports during the period were $7.01 billion, 2.6% below $7.20 billion a year ago.@@@@1@14@@oe@2-2-2013
21404001@unknown@formal@none@1@S@Groupe AG's chairman said the Belgian insurer is prepared to give up some of its independence to a white knight if necessary to repel a raider.@@@@1@26@@oe@2-2-2013
21404002@unknown@formal@none@1@S@Amid heavy buying of shares in Belgium's largest insurer, Maurice Lippens also warned in an interview that a white knight, in buying out a raider, could leave speculators with big losses on their AG stock.@@@@1@35@@oe@2-2-2013
21404003@unknown@formal@none@1@S@Since the beginning of the year, the stock has nearly doubled, giving AG a market value of about 105 billion Belgian francs ($2.7 billion).@@@@1@24@@oe@2-2-2013
21404004@unknown@formal@none@1@S@The most likely white knight would be Societe Generale de Belgique S.A., which already owns 18% of AG and which itself is controlled by Cie. Financiere de Suez, the acquisitive French financial conglomerate.@@@@1@33@@oe@2-2-2013
21404005@unknown@formal@none@1@S@But Mr. Lippens said a rescue also could involve Asahi Mutual Life Insurance Co., which owns 5% of AG.@@@@1@19@@oe@2-2-2013
21404006@unknown@formal@none@1@S@AG is hardly alone in its anxiety.@@@@1@7@@oe@2-2-2013
21404007@unknown@formal@none@1@S@A rambunctious shake-up is quickly reshaping Europe's once-stately insurance business.@@@@1@10@@oe@2-2-2013
21404008@unknown@formal@none@1@S@Worried by European Community directives that will remove many of the barriers to cross-border insurance services, starting in mid-1990, insurers are rushing to find partners and preparing for price wars.@@@@1@30@@oe@2-2-2013
21404009@unknown@formal@none@1@S@In West Germany and the Netherlands, insurers are flirting with banks.@@@@1@11@@oe@2-2-2013
21404010@unknown@formal@none@1@S@In France, Suez and Axa-Midi Assurances S.A. both have been on the prowl for giant acquisitions; Suez last month acquired control of Groupe Victoire, the sixth-largest European insurance company, after a takeover battle with Cie. Industrielle.@@@@1@36@@oe@2-2-2013
21404011@unknown@formal@none@1@S@Mr. Lippens said the volume of shares changing hands has grown significantly since mid-September.@@@@1@14@@oe@2-2-2013
21404012@unknown@formal@none@1@S@But he estimated that a raider would have been able to amass no more than 4% of the shares in recent months.@@@@1@22@@oe@2-2-2013
21404013@unknown@formal@none@1@S@Aside from exploring plans for joint ventures or acquisitions, Mr. Lippens has called top managers of companies rumored as potential raiders -- among them, Axa-Midi, Union des Assurances de Paris and Suez, all based in France.@@@@1@36@@oe@2-2-2013
21404014@unknown@formal@none@1@S@They have all "very clearly stated that they have not acquired and are not acquiring shares of AG," he said.@@@@1@20@@oe@2-2-2013
21404015@unknown@formal@none@1@S@Any raider would find it hard to crack AG's battlements.@@@@1@10@@oe@2-2-2013
21404016@unknown@formal@none@1@S@A "syndicate" of shareholders holds just under 50% of AG, Mr. Lippens said, and members have agreed to give one another the right of first refusal should they sell any AG shares.@@@@1@32@@oe@2-2-2013
21404017@unknown@formal@none@1@S@Aside from Generale de Belgique and Asahi, the syndicate includes Antwerpsche Hypotheekkas, a Belgian savings bank, and various family interests.@@@@1@20@@oe@2-2-2013
21404018@unknown@formal@none@1@S@A Generale spokesman confirmed that the giant Belgian holding company would be willing to raise its stake in AG should a raider seek control.@@@@1@24@@oe@2-2-2013
21404019@unknown@formal@none@1@S@Asahi officials couldn't be reached for comment.@@@@1@7@@oe@2-2-2013
21404020@unknown@formal@none@1@S@Even without bid talk, this year's surge in prices for Brussels real estate has excited interest in AG.@@@@1@18@@oe@2-2-2013
21404021@unknown@formal@none@1@S@The company says those holdings constitute the third-biggest real-estate portfolio in Belgium.@@@@1@12@@oe@2-2-2013
21405001@unknown@formal@none@1@S@With the dust settling from the failed coup attempt in Panama, one of the many lingering questions the Bush administration will ponder is this: Is the National Security Council staff big enough, and does it have enough clout, to do its job of coordinating foreign policy?@@@@1@46@@oe@2-2-2013
21405002@unknown@formal@none@1@S@President Bush's national security adviser, Lt. Gen. Brent Scowcroft, came into office in January intent on making the NSC staff leaner and more disciplined than it had been during the Reagan administration.@@@@1@32@@oe@2-2-2013
21405003@unknown@formal@none@1@S@Gen. Scowcroft was a member of the Tower Commission, which investigated the Iran-Contra affair.@@@@1@14@@oe@2-2-2013
21405004@unknown@formal@none@1@S@He was all too aware of how a large, inadequately supervised NSC staff had spun out of control and nearly wrecked President Reagan's second term.@@@@1@25@@oe@2-2-2013
21405005@unknown@formal@none@1@S@So, following both the style he pursued as President Ford's national security adviser and the recommendations of the Tower Commission, Gen. Scowcroft has pruned the NSC staff and tried to ensure that it sticks to its assigned tasks -- namely, gathering the views of the State Department, Pentagon and intelligence community; serving as an honest broker in distilling that information for the president and then making sure presidential decisions are carried out.@@@@1@72@@oe@2-2-2013
21405006@unknown@formal@none@1@S@The Tower Commission specifically said that the NSC staff should be "small" and warned against letting "energetic self-starters" like Lt. Col. Oliver North strike out on their own rather than leaving the day-to-day execution of policies to the State Department, Pentagon or Central Intelligence Agency.@@@@1@45@@oe@2-2-2013
21405007@unknown@formal@none@1@S@However, the Panama episode has raised questions about whether the NSC staff is sufficiently big, diverse and powerful to coordinate U.S. policy on tough issues.@@@@1@25@@oe@2-2-2013
21405008@unknown@formal@none@1@S@During the coup attempt and its aftermath, NSC staffers were "stretched very thin," says one senior administration official.@@@@1@18@@oe@2-2-2013
21405009@unknown@formal@none@1@S@"It's a very small shop."@@@@1@5@@oe@2-2-2013
21405010@unknown@formal@none@1@S@Gen. Scowcroft doesn't plan to increase the staff right now, but is weighing that possibility, the official adds.@@@@1@18@@oe@2-2-2013
21405011@unknown@formal@none@1@S@The NSC staff "doesn't have the horsepower that I believe is required to have an effective interagency process," says Frank Gaffney, a former Pentagon aide who now runs the Center for Security Policy, a conservative Washington think-tank.@@@@1@37@@oe@2-2-2013
21405012@unknown@formal@none@1@S@"The problem with this administration, I think, is that by design it has greatly diminished, both in a physical sense and in a procedural sense, the role of the NSC."@@@@1@30@@oe@2-2-2013
21405013@unknown@formal@none@1@S@The National Security Council itself was established in 1947 because policy makers sensed a need, in an increasingly complex world, for a formal system within the White House to make sure that communications flowed smoothly between the president and the State Department, Pentagon and intelligence agencies.@@@@1@46@@oe@2-2-2013
21405014@unknown@formal@none@1@S@By law, the council includes the president, vice president and secretaries of state and defense.@@@@1@15@@oe@2-2-2013
21405015@unknown@formal@none@1@S@In practice, the director of central intelligence and chairman of the Joint Chiefs of Staff also serve as unofficial members.@@@@1@20@@oe@2-2-2013
21405016@unknown@formal@none@1@S@But the size, shape and role of the NSC staff have been left for each president and his national security adviser to decide.@@@@1@23@@oe@2-2-2013
21405017@unknown@formal@none@1@S@That task is one of Washington's perennial problems.@@@@1@8@@oe@2-2-2013
21405018@unknown@formal@none@1@S@In the Bush White House, the size of the NSC's staff of professional officers is down to about 50 from about 70 in 1987, administration officials say.@@@@1@27@@oe@2-2-2013
21405019@unknown@formal@none@1@S@Administration officials insist that the size of the staff wasn't a problem during the Panama crisis.@@@@1@16@@oe@2-2-2013
21405020@unknown@formal@none@1@S@But one clear problem during the coup attempt was that the NSC staffer most experienced in Latin America, Everett Briggs, was gone.@@@@1@22@@oe@2-2-2013
21405021@unknown@formal@none@1@S@He had just resigned, at least in part because of a feud with Assistant Secretary of State Bernard Aronson over the administration's policy on Panama and support for Nicaragua's Contra rebels.@@@@1@31@@oe@2-2-2013
21405022@unknown@formal@none@1@S@The absence of Mr. Briggs underscored the possible inadequacy of the current NSC staff.@@@@1@14@@oe@2-2-2013
21405023@unknown@formal@none@1@S@Both Gen. Scowcroft and his deputy, Robert Gates, are experts in U.S.-Soviet affairs.@@@@1@13@@oe@2-2-2013
21405024@unknown@formal@none@1@S@Gen. Scowcroft is particularly well-versed in arms control, and Mr. Gates has spent years studying Soviet politics and society.@@@@1@19@@oe@2-2-2013
21405025@unknown@formal@none@1@S@Both have become confidants of President Bush.@@@@1@7@@oe@2-2-2013
21405026@unknown@formal@none@1@S@But neither has an extensive background in Latin America, the Middle East or Asia.@@@@1@14@@oe@2-2-2013
21405027@unknown@formal@none@1@S@In those areas, the role of NSC staffers under them therefore have become more important.@@@@1@15@@oe@2-2-2013
21405028@unknown@formal@none@1@S@Gen. Scowcroft knows as well as anyone that one of the biggest dangers he faces is that NSC staffers working in relative anonymity will take over policy-making and operational tasks that are best left to bigger and more experienced State Department and Pentagon bureaus.@@@@1@44@@oe@2-2-2013
21405029@unknown@formal@none@1@S@But just as every previous NSC adviser has, Gen. Scowcroft now will have to mull at what point the NSC staff becomes too lean and too restrained.@@@@1@27@@oe@2-2-2013
21406001@unknown@formal@none@1@S@Japan's wholesale prices in the first 10 days of October fell 0.3% from the previous 10 days but rose 3.3% from a year ago, the Bank of Japan said.@@@@1@29@@oe@2-2-2013
21406002@unknown@formal@none@1@S@The wholesale price index stood at 89.6 (1985 equals 100).@@@@1@10@@oe@2-2-2013
21407001@unknown@formal@none@1@S@A former Sperry Corp. marketing executive, admitting his role in the Pentagon procurement scandal, pleaded guilty to bribery and conspiracy charges for helping funnel $400,000 to a midlevel Navy acquisition official during the early 1980s.@@@@1@35@@oe@2-2-2013
21407002@unknown@formal@none@1@S@Frank Lavelle, who at the time was the marketing director for Sperry in Clearwater, Fla., admitted participating in a scheme to bribe Garland Tomlin, the Navy official.@@@@1@27@@oe@2-2-2013
21407003@unknown@formal@none@1@S@Mr. Tomlin, who left the Navy in 1985, pleaded guilty earlier this year to related conspiracy, bribery and tax-evasion charges.@@@@1@20@@oe@2-2-2013
21407004@unknown@formal@none@1@S@The bribery scheme took place between 1982 and 1985, according to documents filed by prosecutors in connection with Mr. Lavelle's guilty plea in federal district court in Alexandria, Va.@@@@1@29@@oe@2-2-2013
21407005@unknown@formal@none@1@S@Sperry merged with Burroughs Corp. to become Unisys Corp. in late 1986.@@@@1@12@@oe@2-2-2013
21407006@unknown@formal@none@1@S@Court documents filed by prosecutors indicate Mr. Tomlin tried to steer to Sperry a multimillion dollar contract to computerize maintenance of certain Navy electronics equiment.@@@@1@25@@oe@2-2-2013
21407007@unknown@formal@none@1@S@Mr. Tomlin, among other things, illegally provided Mr. Lavelle with inside information and documents intended to give Sperry an unfair advantage in the competition, the documents said.@@@@1@27@@oe@2-2-2013
21407008@unknown@formal@none@1@S@Sperry ultimately was eliminated from the competition without receiving the work.@@@@1@11@@oe@2-2-2013
21407009@unknown@formal@none@1@S@Documents filed by prosecutors also indicate that Mr. Lavelle and his fellow conspirators requested and obtained "approval of the scheme" from more-senior Sperry officials "because the payment which {Mr.} Tomlin requested was so large."@@@@1@34@@oe@2-2-2013
21407010@unknown@formal@none@1@S@Charles Gardner, a former Unisys vice president, and James Neal, a former company consultant, have admitted participating in this and other bribery schemes.@@@@1@23@@oe@2-2-2013
21407011@unknown@formal@none@1@S@Unisys has said that all of the company officials who participated in improper activities have left the company.@@@@1@18@@oe@2-2-2013
21407012@unknown@formal@none@1@S@Mr. Lavelle faces a maximum of 20 years in jail and a $500,000 fine.@@@@1@14@@oe@2-2-2013
21408001@unknown@formal@none@1@S@The New York Stock Exchange said a seat was sold for $500,000, unchanged from the sale Thursday.@@@@1@17@@oe@2-2-2013
21408002@unknown@formal@none@1@S@Seats are quoted at $430,000 bid and $525,000 asked.@@@@1@9@@oe@2-2-2013
21409001@unknown@formal@none@1@S@Bureaucrats may deserve their bad reputation, after all.@@@@1@8@@oe@2-2-2013
21409002@unknown@formal@none@1@S@Matthew Lesko, something of a professional defender of government, thought he had a sure-fire winner last summer when he offered $5,000 for the best "verifiable story of 250 words or less about how a government bureaucrat helped you."@@@@1@38@@oe@2-2-2013
21409003@unknown@formal@none@1@S@He sent out thousands of news releases from his Kensington, Md., office.@@@@1@12@@oe@2-2-2013
21409004@unknown@formal@none@1@S@He plugged the contest on Larry King's radio show, on Pat Sajak's television show and on the C-SPAN cable television network.@@@@1@21@@oe@2-2-2013
21409005@unknown@formal@none@1@S@He talked about it in every speech he made as he roamed the country promoting his books, which dispense handy how-to advice on using government information for fun and profit.@@@@1@30@@oe@2-2-2013
21409006@unknown@formal@none@1@S@Mr. Lesko figured he would be flooded with entries by now.@@@@1@11@@oe@2-2-2013
21409007@unknown@formal@none@1@S@After all, he says, "we've got like 15 million bureaucrats."@@@@1@10@@oe@2-2-2013
21409008@unknown@formal@none@1@S@And in addition to the $5,000, he has promised the winner a "My Favorite Bureaucrat" plaque and offered each of two runners-up $500.@@@@1@23@@oe@2-2-2013
21409009@unknown@formal@none@1@S@So far, though, Mr. Lesko has received only one entry.@@@@1@10@@oe@2-2-2013
21409010@unknown@formal@none@1@S@To make matters worse, the lone nomination came from another bureaucrat: A woman from the New York State Department of Taxation and Finance who nominated her boss.@@@@1@27@@oe@2-2-2013
21409011@unknown@formal@none@1@S@Mr. Lesko, who is making the rules as he goes, has determined that bureaucrats are eligible for nomination by other bureaucrats.@@@@1@21@@oe@2-2-2013
21409012@unknown@formal@none@1@S@But he says he would prefer to get nominations from rank-and-file folks.@@@@1@12@@oe@2-2-2013
21409013@unknown@formal@none@1@S@He admits that he hasn't had much luck generating free publicity for his contest.@@@@1@14@@oe@2-2-2013
21409014@unknown@formal@none@1@S@Newspapers, including this one, have generally ignored his news releases.@@@@1@10@@oe@2-2-2013
21409015@unknown@formal@none@1@S@Talk show hosts quickly change the topic.@@@@1@7@@oe@2-2-2013
21409016@unknown@formal@none@1@S@But Mr. Lesko's staff is beginning to wonder whether there isn't some larger phenomenon foiling the contest.@@@@1@17@@oe@2-2-2013
21409017@unknown@formal@none@1@S@"Is the government not helping anybody?" asks Toni Murray, an assistant to Mr. Lesko.@@@@1@14@@oe@2-2-2013
21409018@unknown@formal@none@1@S@Mr. Lesko himself isn't yet prepared to accept that explanation.@@@@1@10@@oe@2-2-2013
21409019@unknown@formal@none@1@S@"People hate to write," he says.@@@@1@6@@oe@2-2-2013
21409020@unknown@formal@none@1@S@"Maybe people don't believe I want to give this money away."@@@@1@11@@oe@2-2-2013
21409021@unknown@formal@none@1@S@Maybe Americans are just so annoyed with government that they aren't interested in admitting that bureaucrats come in handy once in a while.@@@@1@23@@oe@2-2-2013
21409022@unknown@formal@none@1@S@If he sponsored a contest on how a bureaucrat mishandled something, Mr. Lesko admits, "I'd get 5,000 entries."@@@@1@18@@oe@2-2-2013
21409023@unknown@formal@none@1@S@Now there's an idea.@@@@1@4@@oe@2-2-2013
21410001@unknown@formal@none@1@S@Ford Motor Co. and Saab-Scania AB of Sweden broke off talks about a possible alliance after Ford officials concluded that the cost to modernize Saab's car operations would outweigh the likely return.@@@@1@32@@oe@2-2-2013
21410002@unknown@formal@none@1@S@With the collapse of the talks Friday, European analysts expect Ford to intensify its pursuit of British luxury car maker Jaguar PLC, which is scrambling to fend off a hostile Ford bid by negotiating a friendly alliance with Ford's archrival, General Motors Corp.@@@@1@43@@oe@2-2-2013
21410003@unknown@formal@none@1@S@Saab, meanwhile, is left to continue its search for an ally to shore up its sagging car business.@@@@1@18@@oe@2-2-2013
21410004@unknown@formal@none@1@S@Saab said last week it "has had and will continue to have contacts with other manufacturers."@@@@1@16@@oe@2-2-2013
21410005@unknown@formal@none@1@S@Among the possible suitors is Italy's Fiat S.p. A, analysts said last week.@@@@1@13@@oe@2-2-2013
21410006@unknown@formal@none@1@S@Ford and Saab officials declined to elaborate publicly on the announcement Friday that their negotiations failed to yield an agreement "that could make long-term business sense to both parties."@@@@1@29@@oe@2-2-2013
21410007@unknown@formal@none@1@S@Individuals close to the Ford side of the negotiations said late last week that the No. 2 U.S. auto maker lost interest as it became clear that the Swedish auto maker's automotive operations had little to offer in the way of image or technology.@@@@1@44@@oe@2-2-2013
21410008@unknown@formal@none@1@S@Ford originally had seen a Saab alliance as a way to expand its presence in the European and U.S. luxury car markets.@@@@1@22@@oe@2-2-2013
21410009@unknown@formal@none@1@S@In addition, Ford and Saab had discussed a possible link between their heavy truck operations.@@@@1@15@@oe@2-2-2013
21410010@unknown@formal@none@1@S@But the talks on a heavy truck alliance apparently didn't go far.@@@@1@12@@oe@2-2-2013
21410011@unknown@formal@none@1@S@Some European analysts speculated that officials of Saab's highly profitable Scania truck operation balked at surrendering any of their autonomy.@@@@1@20@@oe@2-2-2013
21410012@unknown@formal@none@1@S@Meanwhile, Ford officials became convinced they couldn't expect to recover the investment it would require to make Saab's cars competitive in the increasingly crowded luxury market.@@@@1@26@@oe@2-2-2013
21410013@unknown@formal@none@1@S@Saab's problems were underscored Friday when the company announced that its car division had a 1.2 billion kronor ($186.1 million) loss during the first eight months of this year, slightly worse than Saab-Scania had forecast in its first-half report last month.@@@@1@41@@oe@2-2-2013
21410014@unknown@formal@none@1@S@Overall, Saab-Scania's pretax profit during the first eight months of the year plunged 48.9% to 1 billion Swedish kronor ($155.1 million) from 1.96 billion kronor ($303.9 million) a year earlier.@@@@1@30@@oe@2-2-2013
21410015@unknown@formal@none@1@S@Industry analysts in Europe said the most likely suitor for Saab now is Fiat.@@@@1@14@@oe@2-2-2013
21410016@unknown@formal@none@1@S@Saab and Fiat have worked together in the past, in one case developing jointly a new auto chassis that became the foundation of Saab's 9000 model, Fiat's Croma and Lancia's Thema.@@@@1@31@@oe@2-2-2013
21410017@unknown@formal@none@1@S@Last month, Saab-Scania Chief Executive Georg Karnsund said his company has had talks with Fiat about a broader alliance.@@@@1@19@@oe@2-2-2013
21410018@unknown@formal@none@1@S@But the talks yielded "nothing so advanced that we needed to make a public announcement about it," he said.@@@@1@19@@oe@2-2-2013
21410019@unknown@formal@none@1@S@As for Ford, analysts expect the end of the Saab play will allow the U.S. auto maker to focus its resources on the intensifying struggle with GM for a stake in Jaguar.@@@@1@32@@oe@2-2-2013
21410020@unknown@formal@none@1@S@The failure of the Saab talks "makes it even more crucial for {Ford} to be victorious" in the Jaguar contest, said Stephen Reitman, European auto industry analyst at UBS-Phillips & Drew in London.@@@@1@33@@oe@2-2-2013
21410021@unknown@formal@none@1@S@Ford faces an uphill fight for Jaguar, however.@@@@1@8@@oe@2-2-2013
21410022@unknown@formal@none@1@S@Jaguar executives said last week they expect to have a friendly alliance with GM wrapped up by the end of the month.@@@@1@22@@oe@2-2-2013
21410023@unknown@formal@none@1@S@GM, meanwhile, is hosting a delegation of members of the British Parliament who are touring the auto maker's headquarter operations in Detroit.@@@@1@22@@oe@2-2-2013
21410024@unknown@formal@none@1@S@A GM spokesman said the visit isn't connected to the Jaguar situation.@@@@1@12@@oe@2-2-2013
21410025@unknown@formal@none@1@S@But Ford clearly views Jaguar as a prize worth fighting for, since the company's gilded brand image would give Ford a badly needed leg up in the high end of the luxury markets in both Europe and the U.S.@@@@1@39@@oe@2-2-2013
21410026@unknown@formal@none@1@S@Last week, Ford encountered a setback in its effort to broaden its U.S. luxury offerings when it was forced to abandon a four-year-old effort to market its German-built Scorpio sedan in the U.S. as a luxury import under the Merkur brand name.@@@@1@42@@oe@2-2-2013
21410027@unknown@formal@none@1@S@So despite the GM-Jaguar romance, analysts say Ford by last Friday had boosted its Jaguar holding to about 11% of the luxury auto maker's shares outstanding from 10.4% early last week.@@@@1@31@@oe@2-2-2013
21410028@unknown@formal@none@1@S@About 5.4 million Jaguar shares changed hands in active trading on London's stock exchange Friday, and Jaguar shares moved up 19 pence to 696 pence ($11).@@@@1@26@@oe@2-2-2013
21410029@unknown@formal@none@1@S@On the U.S. over-the-counter market, Jaguar's American depositary receipts rose 12.5 cents to $11.125.@@@@1@14@@oe@2-2-2013
21410030@unknown@formal@none@1@S@Joann S. Lublin contributed to this article.@@@@1@7@@oe@2-2-2013
21411001@unknown@formal@none@1@S@The Dallas Cowboys are looking at a long-yardage situation, struggling to pull ahead of the Atlanta Falcons.@@@@1@17@@oe@2-2-2013
21411002@unknown@formal@none@1@S@Up in his stadium box, their new and controversial owner, Jerral "Jerry" Jones, watches anxiously as the team bounds up to the scrimmage line.@@@@1@24@@oe@2-2-2013
21411003@unknown@formal@none@1@S@Mr. Jones takes heart.@@@@1@4@@oe@2-2-2013
21411004@unknown@formal@none@1@S@There in the center of the pack is quarterback Troy Aikman, the key to the Cowboys' comeback strategy.@@@@1@18@@oe@2-2-2013
21411005@unknown@formal@none@1@S@So key, in fact, that Mr. Jones signed him in April for $11.4 million over the next six years -- a record for a rookie.@@@@1@25@@oe@2-2-2013
21411006@unknown@formal@none@1@S@"He's a genuine Wheaties-box athlete," gushes Mr. Jones.@@@@1@8@@oe@2-2-2013
21411007@unknown@formal@none@1@S@With three minutes left on the clock, Mr. Aikman takes the snap, steps back and fires a 21-yard pass -- straight into the hands of an Atlanta defensive back.@@@@1@29@@oe@2-2-2013
21411008@unknown@formal@none@1@S@The crowd groans, Mr. Jones shakes his head, the Cowboys lose the game.@@@@1@13@@oe@2-2-2013
21411009@unknown@formal@none@1@S@A few days after that Sept. 17 game, Mr. Aikman broke a finger, sidelining him for weeks.@@@@1@17@@oe@2-2-2013
21411010@unknown@formal@none@1@S@Ah, the glamour of professional sports.@@@@1@6@@oe@2-2-2013
21411011@unknown@formal@none@1@S@For Mr. Jones, losing his quarterback temporarily was just the latest in a string of setbacks that has beset the Dallas Cowboys -- and, this year, much of the National Football League.@@@@1@32@@oe@2-2-2013
21411012@unknown@formal@none@1@S@Once fat and happy, the Cowboys now are losing games, fans and money.@@@@1@13@@oe@2-2-2013
21411013@unknown@formal@none@1@S@Last year, the team ended up $2 million in the red on $30 million in revenue.@@@@1@16@@oe@2-2-2013
21411014@unknown@formal@none@1@S@It has some of the highest costs in the league.@@@@1@10@@oe@2-2-2013
21411015@unknown@formal@none@1@S@Its attendance is off 23% from six years ago.@@@@1@9@@oe@2-2-2013
21411016@unknown@formal@none@1@S@At the very least, Mr. Jones, who cultivates the society circuit as eagerly as his bench, can take comfort in one fact: These days, he isn't alone.@@@@1@27@@oe@2-2-2013
21411017@unknown@formal@none@1@S@Nearly half the owners of the 28 National Football League teams are losing money, the result of flat attendance, aging stadiums and -- more than anything -- skyrocketing salaries for star players like Mr. Aikman.@@@@1@35@@oe@2-2-2013
21411018@unknown@formal@none@1@S@Last year, the top 12 players on each NFL team took home an average $536,000, a figure comparable to baseball and higher than in basketball.@@@@1@25@@oe@2-2-2013
21411019@unknown@formal@none@1@S@First-round draft picks have done even better: Average salaries and bonuses for them rose to $685,000 this year, up 44% from 1987.@@@@1@22@@oe@2-2-2013
21411020@unknown@formal@none@1@S@"It's a vicious circle," says Art Modell, owner of the Cleveland Browns.@@@@1@12@@oe@2-2-2013
21411021@unknown@formal@none@1@S@"One team pays so much and the other pays more.@@@@1@10@@oe@2-2-2013
21411022@unknown@formal@none@1@S@We just don't have that kind of income stream."@@@@1@9@@oe@2-2-2013
21411023@unknown@formal@none@1@S@All this is causing convulsions in professional football.@@@@1@8@@oe@2-2-2013
21411024@unknown@formal@none@1@S@Owners, largely complacent in the past, are now almost desperately looking for ways to lower costs and raise revenue -- embracing some revolutionary ideas in the process.@@@@1@27@@oe@2-2-2013
21411025@unknown@formal@none@1@S@Though not intentionally, the Cowboys' Mr. Jones has come to represent this new breed of owner.@@@@1@16@@oe@2-2-2013
21411026@unknown@formal@none@1@S@Shortly after buying 66% of the team from H.R. "Bum" Bright for $145 million, and mindful of the Cowboys' ragged bottom line, the 47-year-old Mr. Jones set about his own round of team cuts.@@@@1@34@@oe@2-2-2013
21411027@unknown@formal@none@1@S@First, he unceremoniously sacked Tom Landry, the legendary coach who took the Cowboys to five Super Bowls and 20 consecutive winning seasons.@@@@1@22@@oe@2-2-2013
21411028@unknown@formal@none@1@S@In Dallas, Mr. Landry has a standing just shy of sainthood.@@@@1@11@@oe@2-2-2013
21411029@unknown@formal@none@1@S@Anti-Jones sentiment flooded the local press: "A crude obnoxious hick," said one writer; "a real oink," said another; "Who in the hell does he think he is?" wrote a third.@@@@1@30@@oe@2-2-2013
21411030@unknown@formal@none@1@S@For Mr. Jones, it was just the beginning.@@@@1@8@@oe@2-2-2013
21411031@unknown@formal@none@1@S@He quickly cut the team's bloated administrative staff by half, shut down a Cowboys-owned dance academy and, in July, announced plans to sell Valley Ranch, the team's 30-acre practice camp and the most lavish training facility in the NFL.@@@@1@39@@oe@2-2-2013
21411032@unknown@formal@none@1@S@Mr. Jones calls the ranch "the Pentagon of Sportdom."@@@@1@9@@oe@2-2-2013
21411033@unknown@formal@none@1@S@It is a maze of halls that connects film rooms, elaborate spas and weight-training centers that testify to a richer, more free-spending era.@@@@1@23@@oe@2-2-2013
21411034@unknown@formal@none@1@S@He likes to tell the yarn of how he got lost on the expansive ranch during an early visit, took refuge in an office and called the front desk for help.@@@@1@31@@oe@2-2-2013
21411035@unknown@formal@none@1@S@"I said, `Somebody come get me.@@@@1@6@@oe@2-2-2013
21411036@unknown@formal@none@1@S@I'm at extension 29.'"@@@@1@4@@oe@2-2-2013
21411037@unknown@formal@none@1@S@With a new day dawning on the sport, Mr. Jones doesn't see a place for this sort of luxury.@@@@1@19@@oe@2-2-2013
21411038@unknown@formal@none@1@S@"It's just not cost efficient," he says.@@@@1@7@@oe@2-2-2013
21411039@unknown@formal@none@1@S@The place costs nearly $2 million a year to maintain.@@@@1@10@@oe@2-2-2013
21411040@unknown@formal@none@1@S@When he sells it, he says, the Cowboys will move to a more practical -- read affordable -- grass practice field near Texas Stadium.@@@@1@24@@oe@2-2-2013
21411041@unknown@formal@none@1@S@And as for Tom Landry, well, in Mr. Jones's mind, he had played out his winning years.@@@@1@17@@oe@2-2-2013
21411042@unknown@formal@none@1@S@After posting losing seasons in each of the last three years, the Cowboys needed a change, he says.@@@@1@18@@oe@2-2-2013
21411043@unknown@formal@none@1@S@Football has long been Mr. Jones's passion, both on and off the field.@@@@1@13@@oe@2-2-2013
21411044@unknown@formal@none@1@S@An Arkansas native, he started at guard on the undefeated 1964 University of Arkansas team that won a national championship.@@@@1@20@@oe@2-2-2013
21411045@unknown@formal@none@1@S@After college, he worked at his father's insurance company in Little Rock, and in 1966 led an aborted attempt to buy the San Diego Chargers.@@@@1@25@@oe@2-2-2013
21411046@unknown@formal@none@1@S@Years later, with cash from the sale of the insurance company, he founded Arkoma Production Corp., an oil and gas exploration company based in Little Rock.@@@@1@26@@oe@2-2-2013
21411047@unknown@formal@none@1@S@So it wasn't surprising that Mr. Jones returned to his Arkansas roots when he went looking for a replacement for Mr. Landry.@@@@1@22@@oe@2-2-2013
21411048@unknown@formal@none@1@S@He tapped Jimmy Johnson, a teammate on the 1964 University of Arkansas squad and the head coach at the University of Miami, where he led the Hurricanes to five winning seasons and a national championship in 1987.@@@@1@37@@oe@2-2-2013
21411049@unknown@formal@none@1@S@Whatever Mr. Johnson's talents, in the hearts and minds of many Dallas fans, he is no Tom Landry.@@@@1@18@@oe@2-2-2013
21411050@unknown@formal@none@1@S@Seven games (and, after a loss to the Kansas City Chiefs yesterday, seven losses) into the season, the "new" Cowboys aren't doing any better than the old.@@@@1@27@@oe@2-2-2013
21411051@unknown@formal@none@1@S@In fact, the last time they played this badly was in 1960, their opening season.@@@@1@15@@oe@2-2-2013
21411052@unknown@formal@none@1@S@Average attendance at their games, about 49,000 last year, continues flat.@@@@1@11@@oe@2-2-2013
21411053@unknown@formal@none@1@S@Mr. Jones is attacking the problem on several fronts.@@@@1@9@@oe@2-2-2013
21411054@unknown@formal@none@1@S@He continues to reshuffle the team, trading famed running back Herschel Walker to the Minnesota Vikings this month for a slew of players and future draft picks.@@@@1@27@@oe@2-2-2013
21411055@unknown@formal@none@1@S@To try to draw more fans, he has dropped end-zone ticket prices from $25 to $19.@@@@1@16@@oe@2-2-2013
21411056@unknown@formal@none@1@S@But the general trend, given rising costs in the league, has been to raise prices, and Mr. Jones is expected to eventually follow suit.@@@@1@24@@oe@2-2-2013
21411057@unknown@formal@none@1@S@"It's simple," says Lamar Hunt, who owns the Kansas City Chiefs and last year raised ticket prices by $2.40 to an average $17.@@@@1@23@@oe@2-2-2013
21411058@unknown@formal@none@1@S@"If we didn't increase prices, we'd be in the red."@@@@1@10@@oe@2-2-2013
21411059@unknown@formal@none@1@S@Mr. Jones has also beefed up his marketing staff to sell the 118 luxury suites topping Texas Stadium (his deal with Bum Bright included operating rights for the stadium).@@@@1@29@@oe@2-2-2013
21411060@unknown@formal@none@1@S@The suites are air-conditioned, have wet bars and plush seating, and offer a clear view of the field -- all for a sale price of $475,000 to $1 million, depending on their size and location.@@@@1@35@@oe@2-2-2013
21411061@unknown@formal@none@1@S@Mr. Jones has been taking prospective suite owners onto the field during practice to let them rub elbows with players, and promises those who actually buy one of the rooms an insider's look at the team's strategy before game time.@@@@1@40@@oe@2-2-2013
21411062@unknown@formal@none@1@S@The sales job seems to be paying off: When he bought the team, only six of the suites had been sold.@@@@1@21@@oe@2-2-2013
21411063@unknown@formal@none@1@S@Today, 30 have.@@@@1@3@@oe@2-2-2013
21411064@unknown@formal@none@1@S@Gate receipts are only the Cowboys' second largest source of cash.@@@@1@11@@oe@2-2-2013
21411065@unknown@formal@none@1@S@The biggest is the NFL's contract with national television for broadcast of the league's games.@@@@1@15@@oe@2-2-2013
21411066@unknown@formal@none@1@S@Last year, the Cowboys' share of that pie came to $17.6 million.@@@@1@12@@oe@2-2-2013
21411067@unknown@formal@none@1@S@The team additionally earns between $2 million and $4 million for local radio and television broadcast rights.@@@@1@17@@oe@2-2-2013
21411068@unknown@formal@none@1@S@Mr. Jones is currently trying to jack up the price for those local rights.@@@@1@14@@oe@2-2-2013
21411069@unknown@formal@none@1@S@He is also trying to get more stations in Mexico, where the Cowboys have a following, to pick up the games.@@@@1@21@@oe@2-2-2013
21411070@unknown@formal@none@1@S@Mr. Jones, whose twangy voice and folksy ways belie an intense businessman who works 16-hour days, is resigned to the hefty salaries he pays his players these days.@@@@1@28@@oe@2-2-2013
21411071@unknown@formal@none@1@S@He calls the contracts "critical to winning in the NFL" and has played his part in the bidding wars.@@@@1@19@@oe@2-2-2013
21411072@unknown@formal@none@1@S@Besides signing Mr. Aikman to a sizable contract, Mr. Jones has agreed to pay rookie quarterback Steve Walsh $4.1 million over the next four years.@@@@1@25@@oe@2-2-2013
21411073@unknown@formal@none@1@S@This wage inflation is bleeding the NFL dry, the owners contend.@@@@1@11@@oe@2-2-2013
21411074@unknown@formal@none@1@S@Soon, only large corporations will be able to afford to buy and run football teams, predicts John J. Veatch Jr., an investment banker with Salomon Brothers who handled the Cowboys sale.@@@@1@31@@oe@2-2-2013
21411075@unknown@formal@none@1@S@To tackle the problem, NFL owners have proposed setting a rookie wage scale to try to rein in salaries.@@@@1@19@@oe@2-2-2013
21411076@unknown@formal@none@1@S@Details of the plan, which would go into effect in 1993, are sketchy, but each player would apparently be paid a base salary keyed to his position and ability.@@@@1@29@@oe@2-2-2013
21411077@unknown@formal@none@1@S@Bonuses would be paid based on playing time and performance.@@@@1@10@@oe@2-2-2013
21411078@unknown@formal@none@1@S@The NFL Players Association, meanwhile, contends that athletes are paid a wage commensurate with their ability to draw fans, and that some owners are in financial trouble because of poor business management, not players' salaries.@@@@1@35@@oe@2-2-2013
21411079@unknown@formal@none@1@S@The owners are trying to boost profit in other ways, too.@@@@1@11@@oe@2-2-2013
21411080@unknown@formal@none@1@S@Many have launched promotions to attract new fans and are renegotiating dated stadium contracts.@@@@1@14@@oe@2-2-2013
21411081@unknown@formal@none@1@S@Most of the owners must pay up to 10% of gross ticket sales for leases on stadiums they say are either too small or too old.@@@@1@26@@oe@2-2-2013
21411082@unknown@formal@none@1@S@In Chicago, for example, size is the issue.@@@@1@8@@oe@2-2-2013
21411083@unknown@formal@none@1@S@"We have the worst lease in the NFL," contends Michael B. McCaskey, the president of the Chicago Bears and a grandson of George Halas, who founded the NFL's predecessor organization.@@@@1@30@@oe@2-2-2013
21411084@unknown@formal@none@1@S@"We're in a metro area with millions of Bear fans, and only a small number can be accommodated."@@@@1@18@@oe@2-2-2013
21411085@unknown@formal@none@1@S@When the lease expires in 1999, he says, "It's got to be changed."@@@@1@13@@oe@2-2-2013
21411086@unknown@formal@none@1@S@This year, the NFL also imposed an 80-player limit on teams going into training camp, down from 120, in a move meant to trim payroll costs.@@@@1@26@@oe@2-2-2013
21411087@unknown@formal@none@1@S@And the league is trying to get more for its three-year national network contract, which expires after this season.@@@@1@19@@oe@2-2-2013
21411088@unknown@formal@none@1@S@The current contract pays the NFL $1.4 billion.@@@@1@8@@oe@2-2-2013
21411089@unknown@formal@none@1@S@Owners say they expect the league to demand a 50% increase, despite the fact that televised football games have had lackluster ratings.@@@@1@22@@oe@2-2-2013
21411090@unknown@formal@none@1@S@An NFL spokesman also says the league will probably expand its offerings to cable TV companies like ESPN.@@@@1@18@@oe@2-2-2013
21411091@unknown@formal@none@1@S@The changes haven't come easy.@@@@1@5@@oe@2-2-2013
21411092@unknown@formal@none@1@S@Like the game of professional football, the NFL organization itself is in turmoil.@@@@1@13@@oe@2-2-2013
21411093@unknown@formal@none@1@S@The new breed of team owner, Mr. Jones included, has been fighting the NFL bureaucracy for a greater say in league affairs, and the battle has produced a form of organizational gridlock.@@@@1@32@@oe@2-2-2013
21411094@unknown@formal@none@1@S@In July, 11 NFL owners, almost all of them new, blocked an effort to install Jim Finks as a replacement for retiring league commissioner Pete Rozelle.@@@@1@26@@oe@2-2-2013
21411095@unknown@formal@none@1@S@Mr. Finks is perceived by some owners as a standard-bearer for the Old Guard.@@@@1@14@@oe@2-2-2013
21411096@unknown@formal@none@1@S@Earlier this month, another effort to choose a commissioner failed.@@@@1@10@@oe@2-2-2013
21411097@unknown@formal@none@1@S@The owners meet again tomorrow.@@@@1@5@@oe@2-2-2013
21411098@unknown@formal@none@1@S@For his part, Jerry Jones says he's in the business for the long haul, and his work style seems to support that.@@@@1@22@@oe@2-2-2013
21411099@unknown@formal@none@1@S@He puts in busy six-day weeks (excluding game days), and on one recent afternoon fielded questions, in the course of an hour, from a TV producer, his luxury-suite marketing manager, a disgruntled customer and a roomful of Arkansas reporters.@@@@1@39@@oe@2-2-2013
21411100@unknown@formal@none@1@S@To keep his schedule on track, he flies two personal secretaries in from Little Rock to augment his staff in Dallas.@@@@1@21@@oe@2-2-2013
21411101@unknown@formal@none@1@S@"When I made this investment, I made it on a lifetime basis," he explains.@@@@1@14@@oe@2-2-2013
21411102@unknown@formal@none@1@S@"I'm not here to make money by reselling the team later on.@@@@1@12@@oe@2-2-2013
21411103@unknown@formal@none@1@S@While the Cowboys may not be the best investment now, I don't accept they can't be in the future."@@@@1@19@@oe@2-2-2013
21411104@unknown@formal@none@1@S@Besides, to a large extent, Mr. Jones may already be getting what he wants out of the team, even though it keeps losing.@@@@1@23@@oe@2-2-2013
21411105@unknown@formal@none@1@S@Owning the Cowboys has bought him entree to a glitzy life that drilling for oil in Arkansas just didn't provide.@@@@1@20@@oe@2-2-2013
21411106@unknown@formal@none@1@S@There is the new private jet, the platoon of assistants, invitations to the best parties, and television appearances on shows such as "Prime Time Live."@@@@1@25@@oe@2-2-2013
21411107@unknown@formal@none@1@S@A few weeks ago, Mr. Jones even entertained Elizabeth Taylor in his private suite at Texas Stadium.@@@@1@17@@oe@2-2-2013
21411108@unknown@formal@none@1@S@"You're in the catbird seat every day in this job," he says.@@@@1@12@@oe@2-2-2013
21412001@unknown@formal@none@1@S@How interestingly clever of Robert Goldberg to use the form of pretend advocacy journalism to explain his perception of "Days of Rage" in his television critique (Leisure & Arts, Sept 11).@@@@1@31@@oe@2-2-2013
21412002@unknown@formal@none@1@S@He chastises Jo Franklin-Trout for her inept presentation of advocacy journalism, judging her project as "intellectually slipshod."@@@@1@17@@oe@2-2-2013
21412003@unknown@formal@none@1@S@Was not the title very clear?@@@@1@6@@oe@2-2-2013
21412004@unknown@formal@none@1@S@One example he gives: "She didn't ask" (why the Palestinian children are soldiers throwing stones).@@@@1@15@@oe@2-2-2013
21412005@unknown@formal@none@1@S@Really now, did she have to ask?@@@@1@7@@oe@2-2-2013
21412006@unknown@formal@none@1@S@Were not the pictures and happenings, which have been continuing news headlines, answers enough?@@@@1@14@@oe@2-2-2013
21412007@unknown@formal@none@1@S@Mr. Goldberg contends that even as "propaganda" the film fails because it presents only one view.@@@@1@16@@oe@2-2-2013
21412008@unknown@formal@none@1@S@Of course the Palestinians complain about their treatment; of course the Israelis feel put upon.@@@@1@15@@oe@2-2-2013
21412009@unknown@formal@none@1@S@But his complaint that "Days of Rage" doesn't contain balanced comments from Israelis about how badly the Palestinians are behaving is irrelevant.@@@@1@22@@oe@2-2-2013
21412010@unknown@formal@none@1@S@It's like doing a documentary on apartheid and insisting that equal time be given to how terrific white South Africans are.@@@@1@21@@oe@2-2-2013
21412011@unknown@formal@none@1@S@This film did emphasize how long the Israeli/Palestinian stalemate has existed by tracing the conflict to the days of World War I when the British tried to guarantee both a Jewish state and a Palestinian state without specifying how it was to be done.@@@@1@44@@oe@2-2-2013
21412012@unknown@formal@none@1@S@Well, "Days of Rage" airing with before-and-after packaging, and after repeated delays, was a beginning.@@@@1@15@@oe@2-2-2013
21412013@unknown@formal@none@1@S@Every issue is multisided.@@@@1@4@@oe@2-2-2013
21412014@unknown@formal@none@1@S@This film attempts to show a side rarely seen in our media.@@@@1@12@@oe@2-2-2013
21412015@unknown@formal@none@1@S@Now we must endure a rash of critics who apparently wish to know details of one side only.@@@@1@18@@oe@2-2-2013
21412016@unknown@formal@none@1@S@Salaam.@@@@1@1@@oe@2-2-2013
21412017@unknown@formal@none@1@S@Shalom.@@@@1@1@@oe@2-2-2013
21412018@unknown@formal@none@1@S@Charlotte Carpenter Bainbridge Island, Wash.@@@@1@5@@oe@2-2-2013
21413001@unknown@formal@none@1@S@President Bush wants the Pentagon to get special treatment in coping with the across-the-board spending cuts that took effect last week.@@@@1@21@@oe@2-2-2013
21413002@unknown@formal@none@1@S@Mr. Bush asked Congress to raise to $6 billion from $3 billion the amount of money Defense Secretary Dick Cheney may shift among the Pentagon's individual programs, projects and activities, allowing him to ease the pain that the Gramm-Rudman budget law was intended to inflict.@@@@1@45@@oe@2-2-2013
21413003@unknown@formal@none@1@S@If the request is approved by both the House and Senate, Mr. Cheney would need only permission from the White House Office of Management and Budget to move the money, according to Senate budget analysts.@@@@1@35@@oe@2-2-2013
21413004@unknown@formal@none@1@S@That would give the Pentagon flexibility that no other federal agency has.@@@@1@12@@oe@2-2-2013
21413005@unknown@formal@none@1@S@"It's simply a way of making the cuts less onerous for defense than they are for domestic programs," said Chairman James Sasser (D., Tenn.) of the Senate Budget Committee, who said he would oppose the request.@@@@1@36@@oe@2-2-2013
21413006@unknown@formal@none@1@S@"That isn't consistent with the kind of discipline that Gramm-Rudman is supposed to impose," he said.@@@@1@16@@oe@2-2-2013
21413007@unknown@formal@none@1@S@The president's request didn't indicate how Mr. Cheney would shift the money.@@@@1@12@@oe@2-2-2013
21413008@unknown@formal@none@1@S@A Pentagon official said the request was made to give the department "maximum flexibility" to deal with the cuts.@@@@1@19@@oe@2-2-2013
21413009@unknown@formal@none@1@S@Last week, Budget Director Richard Darman structured the $16.1 billion spending reduction, half of which must come from defense, to "impose a little bit more discipline" by applying cuts to each individual program, project or activity in the budget.@@@@1@39@@oe@2-2-2013
21413010@unknown@formal@none@1@S@That would give agencies "less ability . . . to fudge over things," he told reporters.@@@@1@16@@oe@2-2-2013
21413011@unknown@formal@none@1@S@Under the deficit-reduction law, 4.3% of the Pentagon's money and 5.3% of other agencies' money has been canceled.@@@@1@18@@oe@2-2-2013
21413012@unknown@formal@none@1@S@Lawmakers are expected to try to restore the funds once a pending deficit-cutting measure has been signed into law.@@@@1@19@@oe@2-2-2013
21414001@unknown@formal@none@1@S@Rochester Telephone Corp. said it completed its purchase of Urban Telephone Corp., of Clintonville, Wis., the second-largest unaffiliated independent telephone company in that state.@@@@1@24@@oe@2-2-2013
21414002@unknown@formal@none@1@S@Rochester Telephone said the acquisition was made in an exchange of its common shares for all the shares of Urban Telephone, but a price wasn't disclosed.@@@@1@26@@oe@2-2-2013
21414003@unknown@formal@none@1@S@Urban is the company's first telephone subsidiary in Wisconsin.@@@@1@9@@oe@2-2-2013
21414004@unknown@formal@none@1@S@Since June, Rochester Telephone signed letters of intent to purchase three other Wisconsin firms.@@@@1@14@@oe@2-2-2013
21415001@unknown@formal@none@1@S@A bill that would permit the Securities and Exchange Commission to monitor the financial condition of securities firms' holding companies is facing tough opposition from some Wall Street firms, which argue that the legislation is unnecessary.@@@@1@36@@oe@2-2-2013
21415002@unknown@formal@none@1@S@The legislation and other issues related to the stock market will be the focus of hearings this week by the House Telecommunications and Finance Subcommittee and the Senate Securities Subcommittee.@@@@1@30@@oe@2-2-2013
21415003@unknown@formal@none@1@S@Richard Breeden, the new chairman of the SEC, hasn't taken a formal position on the bill, which would also require investors to disclose large trades and give the SEC additional authority during market emergencies.@@@@1@34@@oe@2-2-2013
21415004@unknown@formal@none@1@S@However, he recently told the Senate Banking Committee that he believes the agency should have explicit authority to monitor debt levels at holding companies and affiliates of broker-dealers, which are frequently used to issue bridge loans.@@@@1@36@@oe@2-2-2013
21415005@unknown@formal@none@1@S@The bridge loans are intended to provide temporary financing for acquisitions.@@@@1@11@@oe@2-2-2013
21415006@unknown@formal@none@1@S@Since such loans are often refinanced through the sale of high-risk, high-yield junk bonds, the recent woes of the junk-bond market have renewed concerns among regulators about the risks associated with Wall Street firms issuing bridge loans.@@@@1@37@@oe@2-2-2013
21415007@unknown@formal@none@1@S@But some Wall Street executives argue that such fears are unwarranted.@@@@1@11@@oe@2-2-2013
21415008@unknown@formal@none@1@S@In a July 6 letter to the Senate Securities Subcommittee, First Boston Corp. argued that the fact that no retail brokerage firm failed during the 1987 market crash demonstrates that current rules are adequate.@@@@1@34@@oe@2-2-2013
21415009@unknown@formal@none@1@S@First Boston, whose holding company, CS First Boston Group, is one of the larger issuers of bridge loans on Wall Street, said it is also concerned that once the SEC has the power to monitor holding companies, it will try to regulate their activities.@@@@1@44@@oe@2-2-2013
21415010@unknown@formal@none@1@S@"The proposal, while well-intended, I think can be dangerously misleading because the likely consequence would be to weaken, rather than strengthen the control the SEC has exercised for 50 years over the financial adequacy and viability of broker-dealers," Michael Raoul-Duval, managing director of First Boston, said in an interview.@@@@1@49@@oe@2-2-2013
21415011@unknown@formal@none@1@S@The bill would "divert scarce resources of the commission away from broker-dealers into areas which simply have no way of affecting broker-dealers," Mr. Raoul-Duval said.@@@@1@25@@oe@2-2-2013
21415012@unknown@formal@none@1@S@Sources in the industry and on Capitol Hill say a compromise that would placate the industry while addressing the SEC's concerns may be possible.@@@@1@24@@oe@2-2-2013
21415013@unknown@formal@none@1@S@An aide to the Senate Securities Subcommittee says some legislators support the concept of risk disclosure, but adds: "nobody is wedded to the language in the bill."@@@@1@27@@oe@2-2-2013
21415014@unknown@formal@none@1@S@Edward O'Brien, president of the Securities Industry Association, said that the securities-industry trade group opposes the bill as it is written but that it is "hopeful a compromise can be reached to achieve the SEC's goals."@@@@1@36@@oe@2-2-2013
21415015@unknown@formal@none@1@S@Mr. O'Brien will elaborate on the SIA's position in testimony before the House Telecommunications and Finance Subcommittee this week, a spokesman said.@@@@1@22@@oe@2-2-2013
21416001@unknown@formal@none@1@S@This letter was inspired by David Asman's Sept. 25 editorial-page article about Fidel Castro, "Man in the Middle of Drug Trafficking."@@@@1@21@@oe@2-2-2013
21416002@unknown@formal@none@1@S@I've organized a series of exchanges, exhibitions and other continuing projects between Cuban and American artists.@@@@1@16@@oe@2-2-2013
21416003@unknown@formal@none@1@S@In any matters between us and the Cubans there can be no simplicity, consequently I've become familiar not only with Cuban art and artists, but also with Cuban bureaucrats and their counterparts in our own government.@@@@1@36@@oe@2-2-2013
21416004@unknown@formal@none@1@S@Despite levels of obstruction, incompetence and ensuing frustration of mythic proportion, these projects all remain, in my mind, valuable and well worth the effort.@@@@1@24@@oe@2-2-2013
21416005@unknown@formal@none@1@S@There is a simple reason for this: the Cuban people.@@@@1@10@@oe@2-2-2013
21416006@unknown@formal@none@1@S@Let me immediately put limits to whatever nostalgic notions that may intimate.@@@@1@12@@oe@2-2-2013
21416007@unknown@formal@none@1@S@Those "people" to whom I refer are not some heroic, indecipherable quantity; they are artists, critics, taxi drivers, grandmothers, even some employees of the Ministry of Culture, all of whom share a deep belief in the original principles of the Cuban Revolution, spelled out in terms such as equality among all members of the society, reverence for education and creative expression, universal rights to health and livelihood, housing, etc.@@@@1@69@@oe@2-2-2013
21416008@unknown@formal@none@1@S@In fact, the generation of painters growing into maturity right now works with such profoundly held humanist assumptions and such passionate commitment to moral and ethical principles that it makes Che Guevara's famous linkages of art, idealism and revolution seem modest.@@@@1@41@@oe@2-2-2013
21416009@unknown@formal@none@1@S@It is on behalf of these people, and out of my real respect for them, that I am responding to Mr. Asman's opinions of their country.@@@@1@26@@oe@2-2-2013
21416010@unknown@formal@none@1@S@The Ochoa trial in July, with its revelations of deeply rooted and widespread corruption, and the summary trial and execution, was extremely disturbing to everyone who has ever considered himself a friend of Cuba.@@@@1@34@@oe@2-2-2013
21416011@unknown@formal@none@1@S@However, unacceptable though those occurrences may have been, they still provide no excuse for wholesale departures from truth.@@@@1@18@@oe@2-2-2013
21416012@unknown@formal@none@1@S@Mr. Asman should make distinctions among Fidel, the army and the Cuban people.@@@@1@13@@oe@2-2-2013
21416013@unknown@formal@none@1@S@They are not interchangeable, since they are motivated to act based on their own circumstances.@@@@1@15@@oe@2-2-2013
21416014@unknown@formal@none@1@S@It is naivete to equate a government's policies with the will of the people (as we well know), and it is even worse folly to merge the clearly divergent agendas of Fidel and the military and the state bureaucracy.@@@@1@39@@oe@2-2-2013
21416015@unknown@formal@none@1@S@Mr. Asman is also annoyed that Mr. Castro has resisted collaboration with U.S. officials, even though by his own account that collaboration has been devised essentially as a mechanism for acts directly hostile to the Cuban regime, such as facilitating defections.@@@@1@41@@oe@2-2-2013
21416016@unknown@formal@none@1@S@I think it's a little disingenuous to be surprised that Fidel doesn't invite the U.S. State Department to violate the jurisdiction of the Cuban government over its own territory.@@@@1@29@@oe@2-2-2013
21416017@unknown@formal@none@1@S@We badly need to follow fact rather than the rhetoric of conventional wisdom.@@@@1@13@@oe@2-2-2013
21416018@unknown@formal@none@1@S@Without this basic level of attention to reality, our policies on Cuba will continue to be as counterproductive as they have for 30 years.@@@@1@24@@oe@2-2-2013
21416019@unknown@formal@none@1@S@From my own point of view, given the qualities of humanity, creativity and warm spirit in which the Cuban people excel, we deny ourselves access to things we hold dear, and which seem to run in such short supply these days.@@@@1@41@@oe@2-2-2013
21416020@unknown@formal@none@1@S@There is no rational justification for such behavior.@@@@1@8@@oe@2-2-2013
21416021@unknown@formal@none@1@S@Rachel Weiss Brookline, Mass.@@@@1@4@@oe@2-2-2013
21417001@unknown@formal@none@1@S@ENGRAPH INC. recently reported third-quarter earnings, which were mistakenly shown in the Quarterly Earnings Surprises table in last Tuesday's edition to be lower than the average of analysts' estimates.@@@@1@29@@oe@2-2-2013
21417002@unknown@formal@none@1@S@Zacks Investment Research didn't adjust one analyst's estimate for a stock split, which therefore was artificially high.@@@@1@17@@oe@2-2-2013
21417003@unknown@formal@none@1@S@Engraph's third-quarter net income of 15 cents a share actually was 7% higher than the adjusted average of estimates.@@@@1@19@@oe@2-2-2013
21418001@unknown@formal@none@1@S@Investors bailed out of New York City bonds in droves last week, driving prices lower and boosting yields.@@@@1@18@@oe@2-2-2013
21418002@unknown@formal@none@1@S@One bond trader estimated that more than $50 million of New York City general obligation bonds were put up for sale Friday alone.@@@@1@23@@oe@2-2-2013
21418003@unknown@formal@none@1@S@While that represents a small percentage of the city's public debt outstanding, Friday's selling followed a weeklong effort to unload the bonds by a broad spectrum of institutional and individual investors.@@@@1@31@@oe@2-2-2013
21418004@unknown@formal@none@1@S@"I've never seen so many {New York City} G.O.'s up for sale," said another trader.@@@@1@15@@oe@2-2-2013
21418005@unknown@formal@none@1@S@"Every broker has blocks of every size and maturity."@@@@1@9@@oe@2-2-2013
21418006@unknown@formal@none@1@S@Municipal bond analysts said the sell-off was triggered by concerns about the city's financial health, rumors of a $900 million bond offering coming soon, and political uncertainty.@@@@1@27@@oe@2-2-2013
21418007@unknown@formal@none@1@S@A spokesman for the city wouldn't confirm the size of the bond issue, but did say that a general obligation offering is in the works and should be priced sometime in the next two weeks, before the November mayoral election.@@@@1@40@@oe@2-2-2013
21418008@unknown@formal@none@1@S@(General obligation bonds are backed by the city's overall revenues and credit.)@@@@1@12@@oe@2-2-2013
21418009@unknown@formal@none@1@S@Although many investors were aware that a bond offering was being scheduled, many expected a much smaller amount of bonds to be sold.@@@@1@23@@oe@2-2-2013
21418010@unknown@formal@none@1@S@The fact that the city will issue such a large amount of debt was interpreted as a sign that New York's budgetary problems are more serious than had been expected.@@@@1@30@@oe@2-2-2013
21418011@unknown@formal@none@1@S@New York, one of the nation's largest issuers of tax-exempt bonds, sold $750 million of municipal bonds just a few weeks ago.@@@@1@22@@oe@2-2-2013
21418012@unknown@formal@none@1@S@There have been reports for months that the city's economy is weakening, as the October 1987 stock market crash continues to make itself felt.@@@@1@24@@oe@2-2-2013
21418013@unknown@formal@none@1@S@The recent sharp stock market decline exacerbated those concerns.@@@@1@9@@oe@2-2-2013
21418014@unknown@formal@none@1@S@Meanwhile, tax revenues are falling while the city's spending needs are expanding.@@@@1@12@@oe@2-2-2013
21418015@unknown@formal@none@1@S@Rumors persisted last week that New York's credit ratings -- single-A from Moody's Investors Service Inc. and single-A-minus from Standard & Poor's Corp. -- are at risk.@@@@1@27@@oe@2-2-2013
21418016@unknown@formal@none@1@S@The weakness in New York City bonds follows a warning from New York state Comptroller Edward Regan that the 1987 crash seriously weakened the city's economy.@@@@1@26@@oe@2-2-2013
21418017@unknown@formal@none@1@S@In a study, the comptroller said, "The city's glory days are over."@@@@1@12@@oe@2-2-2013
21418018@unknown@formal@none@1@S@Mr. Regan warned mayoral candidates "to be prepared for limited options and constraints on service increases to address the city's problems in the next few years, due to the now-evident weakening in the New York City economy."@@@@1@37@@oe@2-2-2013
21418019@unknown@formal@none@1@S@New York City's revised financial plan, due out later this month, is expected to include measures to balance the city's $27 billion budget.@@@@1@23@@oe@2-2-2013
21418020@unknown@formal@none@1@S@At present, analysts project a budget gap on the order of $500 million to $600 million for the fiscal year ending June 30, 1990, although the city's own budget analysts project a narrower deficit.@@@@1@34@@oe@2-2-2013
21418021@unknown@formal@none@1@S@Mark Page, New York's deputy director of finance, said that investors' concerns about the city's financial health are "unwarranted given our proven ability to manage ourselves."@@@@1@26@@oe@2-2-2013
21418022@unknown@formal@none@1@S@He charges the city's critics with spreading "unfounded emotional rhetoric."@@@@1@10@@oe@2-2-2013
21418023@unknown@formal@none@1@S@There are also questions about whether a new and inexperienced mayor can manage the city through what could become a financial crisis.@@@@1@22@@oe@2-2-2013
21418024@unknown@formal@none@1@S@The leading contender for the mayoral office, Democrat David Dinkins, has been criticized recently for the way he handled his personal financial affairs.@@@@1@23@@oe@2-2-2013
21418025@unknown@formal@none@1@S@And the controversy has led to uncertainty about the outcome of the election.@@@@1@13@@oe@2-2-2013
21418026@unknown@formal@none@1@S@Until last week, Mr. Dinkins was considered a shoo-in.@@@@1@9@@oe@2-2-2013
21418027@unknown@formal@none@1@S@"The market can adjust to good news or bad news, but uncertainty drives people wild," said Bernard B. Beal, chief executive of M.R. Beal & Co., a securities firm that specializes in the municipal market.@@@@1@35@@oe@2-2-2013
21418028@unknown@formal@none@1@S@Until last week, "Everyone felt certain they knew the outcome of the election.@@@@1@13@@oe@2-2-2013
21418029@unknown@formal@none@1@S@Now, there have been a number of questions raised."@@@@1@9@@oe@2-2-2013
21418030@unknown@formal@none@1@S@Last week, yields on long-term New York City general obligation bonds jumped half a percentage point.@@@@1@16@@oe@2-2-2013
21418031@unknown@formal@none@1@S@New York City's 6% bonds due 2018, for example, were quoted late Friday at a price to yield 7.80%, compared with 7.60% Thursday.@@@@1@23@@oe@2-2-2013
21418032@unknown@formal@none@1@S@As the yield on New York general obligation bonds rose, the Bond Buyer 20-bond general obligation index, the mostly widely followed gauge of the tax-exempt market, held steady at 7.19% in the week ended Oct. 19.@@@@1@36@@oe@2-2-2013
21419001@unknown@formal@none@1@S@Qintex Australia Ltd. encountered another setback Friday when its Los Angeles-based affiliate, Qintex Entertainment Inc., filed for protection under Chapter 11 of the U.S. Bankruptcy Code.@@@@1@26@@oe@2-2-2013
21419002@unknown@formal@none@1@S@Qintex Entertainment also said David Evans, its president and chief executive, and Roger Kimmel, a director, both resigned.@@@@1@18@@oe@2-2-2013
21419003@unknown@formal@none@1@S@Neither could be reached for comment.@@@@1@6@@oe@2-2-2013
21419004@unknown@formal@none@1@S@Earlier this month, Qintex Australia's $1.5 billion agreement to acquire MGM/UA Communications Co. collapsed because of a dispute over a $50 million letter of credit the Australian operator of television stations and resorts was to have supplied as security in the transaction.@@@@1@42@@oe@2-2-2013
21419005@unknown@formal@none@1@S@Mr. Evans had been the de facto head of MGM/UA for months.@@@@1@12@@oe@2-2-2013
21419006@unknown@formal@none@1@S@Qintex Entertainment, a producer and distributor of television programs most noted for its co-production of the hit miniseries "Lonesome Dove," said it filed for Chapter 11 protection after Qintex Australia failed to provide it with $5.9 million owed to MCA Inc. in connection with the distribution of "The New Leave It to Beaver Show."@@@@1@54@@oe@2-2-2013
21419007@unknown@formal@none@1@S@Qintex Entertainment is 43% owned by Qintex Australia and said it relies on the Australian company for funding its working capital requirements.@@@@1@22@@oe@2-2-2013
21419008@unknown@formal@none@1@S@After the announcement of the bankruptcy filing, Qintex Entertainment stock sank $2.625 in over-the-counter trading to close at $1.50 on heavy volume of more than 1.4 million shares.@@@@1@28@@oe@2-2-2013
21419009@unknown@formal@none@1@S@The stock traded as high as $10 this past summer.@@@@1@10@@oe@2-2-2013
21419010@unknown@formal@none@1@S@Jonathan Lloyd, executive vice president and chief financial officer of Qintex Entertainment, said Qintex Entertainment was forced to file for protection to avoid going into default under its agreement with MCA.@@@@1@31@@oe@2-2-2013
21419011@unknown@formal@none@1@S@The $5.9 million payment was due Oct. 1 and the deadline for default was Oct. 19.@@@@1@16@@oe@2-2-2013
21419012@unknown@formal@none@1@S@Mr. Lloyd said if Qintex had defaulted it could have been required to repay $92 million in debt under its loan agreements.@@@@1@22@@oe@2-2-2013
21419013@unknown@formal@none@1@S@MCA on Friday said that as a result of Qintex's failure to make the required payment it was terminating the distribution agreement on "The New Leave It to Beaver" as well as other MCA properties.@@@@1@35@@oe@2-2-2013
21419014@unknown@formal@none@1@S@Qintex Australia was "saying as recently as last weekend that they would take care of the situation.@@@@1@17@@oe@2-2-2013
21419015@unknown@formal@none@1@S@They continued to represent that to the board," said Mr. Lloyd.@@@@1@11@@oe@2-2-2013
21419016@unknown@formal@none@1@S@"We were reassured they would stand behind the company."@@@@1@9@@oe@2-2-2013
21419017@unknown@formal@none@1@S@Mr. Lloyd said both Qintex Entertainment and Qintex Australia had attempted to secure a loan that would allow the company to make the $5.9 million payment but the request was turned down by an unidentified lender on Oct. 14.@@@@1@39@@oe@2-2-2013
21419018@unknown@formal@none@1@S@At that point, he said, Qintex Australia stated it would "endeavor to arrange" the financing.@@@@1@15@@oe@2-2-2013
21419019@unknown@formal@none@1@S@However a Qintex Australia spokesman said his firm had never "promised or guaranteed" to make the payment.@@@@1@17@@oe@2-2-2013
21419020@unknown@formal@none@1@S@In a prepared statement from Australia, the company also said that, following the breakdown of the MGM talks, it "had been re-evaluating its position as a significant shareholder and a substantial creditor of Qintex Entertainment" and had "resolved to minimize the degree of further loans to Qintex Entertainment in excess of that previously made."@@@@1@54@@oe@2-2-2013
21419021@unknown@formal@none@1@S@The Qintex Australia spokesman added that his company had opposed the Chapter 11 filing.@@@@1@14@@oe@2-2-2013
21419022@unknown@formal@none@1@S@He said the company believed Qintex Entertainment's financial problems could have been resolved by other means.@@@@1@16@@oe@2-2-2013
21419023@unknown@formal@none@1@S@The report of the bankruptcy filing stunned Hollywood executives and investors.@@@@1@11@@oe@2-2-2013
21419024@unknown@formal@none@1@S@"It's a shocker," said Joseph Di Lillo, chairman of Drake Capital Securities, a brokerage firm that has an investment in Qintex Entertainment.@@@@1@22@@oe@2-2-2013
21419025@unknown@formal@none@1@S@Qintex Australia was "going to pay more than $1 billion for MGM/UA and then they couldn't come up with the far smaller sum of $5.9 million."@@@@1@26@@oe@2-2-2013
21419026@unknown@formal@none@1@S@Qintex said Mr. Evans, the former president, resigned for "personal reasons" and that Mr. Kimmel, an attorney, resigned because his participation in evaluating the company's role in buying MGM/UA was no longer necessary.@@@@1@33@@oe@2-2-2013
21419027@unknown@formal@none@1@S@Mr. Kimmel was a director of the company and a predecessor firm since 1980.@@@@1@14@@oe@2-2-2013
21419028@unknown@formal@none@1@S@The announcement seemed to further damp prospects that talks between Qintex Australia and MGM/UA might be revived.@@@@1@17@@oe@2-2-2013
21419029@unknown@formal@none@1@S@It's understood that MGM/UA recently contacted Rupert Murdoch's News Corp., which made two failed bids for the movie studio, to see if the company was still interested.@@@@1@27@@oe@2-2-2013
21419030@unknown@formal@none@1@S@However, "we aren't currently doing anything.@@@@1@6@@oe@2-2-2013
21419031@unknown@formal@none@1@S@It isn't a current topic of conversation at the company," said Barry Diller, chairman and chief executive officer of the Fox Inc. unit of News Corp.@@@@1@26@@oe@2-2-2013
21420001@unknown@formal@none@1@S@Financial printer Bowne & Co. said it formed a business translation service, which will provide legal, financial and other services in most major languages, including Japanese, Chinese and Russian.@@@@1@29@@oe@2-2-2013
21421001@unknown@formal@none@1@S@Japan's Finance Ministry strongly denied playing any role in the New York stock-price free fall.@@@@1@15@@oe@2-2-2013
21421002@unknown@formal@none@1@S@Makoto Utsumi, vice minister for international affairs, said the ministry didn't in any way suggest to Japanese banks that they stay out of the UAL Corp. leveraged buy-out.@@@@1@28@@oe@2-2-2013
21421003@unknown@formal@none@1@S@The ministry has never even suggested that Japanese banks be cautious about leveraged buy-outs in general, Mr. Utsumi said.@@@@1@19@@oe@2-2-2013
21421004@unknown@formal@none@1@S@"There are no facts {behind the assertions} that we sent any kind of signal," he declared in an interview.@@@@1@19@@oe@2-2-2013
21421005@unknown@formal@none@1@S@The comments were the ministry's first detailed public statement on the subject, and reflect the ministry's concern that foreigners will think Japan is using its tremendous financial power to control events in foreign markets.@@@@1@34@@oe@2-2-2013
21421006@unknown@formal@none@1@S@A number of accounts of the events leading to the 190 point drop in New York stock prices on Oct. 13 accused the ministry of pulling the plug on the UAL deal for one reason or another.@@@@1@37@@oe@2-2-2013
21421007@unknown@formal@none@1@S@Mr. Utsumi said the most the ministry had ever done was ask Japanese banks about "the status of their participation" in one previous U.S. leveraged buy-out.@@@@1@26@@oe@2-2-2013
21421008@unknown@formal@none@1@S@The ministry inquired about that deal -- which Mr. Utsumi declined to identify -- because the large presence of Japanese banks in the deal was "being strongly criticized in the U.S. Congress" and it was "necessary for us to grasp the situation."@@@@1@42@@oe@2-2-2013
21421009@unknown@formal@none@1@S@He said the inquiry wasn't made in a way that the banks could have interpreted as either encouraging or discouraging participation, and he added that none of the Japanese banks changed their posture on the deal as a result of the inquiry.@@@@1@42@@oe@2-2-2013
21421010@unknown@formal@none@1@S@Mr. Utsumi also said some Japanese banks were willing to participate in the UAL financing up to the very end, which would suggest at the very least that they weren't under orders to back out.@@@@1@35@@oe@2-2-2013
21421011@unknown@formal@none@1@S@In general, Mr. Utsumi said, Japanese banks are becoming more "independent" in their approach to overseas deals.@@@@1@17@@oe@2-2-2013
21421012@unknown@formal@none@1@S@"Each Japanese bank has its own judgment on the profits and risks in that {UAL} deal," he said.@@@@1@18@@oe@2-2-2013
21421013@unknown@formal@none@1@S@"They are becoming more independent.@@@@1@5@@oe@2-2-2013
21421014@unknown@formal@none@1@S@It's a sound phenomenon."@@@@1@4@@oe@2-2-2013
21421015@unknown@formal@none@1@S@Sanwa Bank Ltd. is one Japanese bank that decided not to participate in the first UAL proposal.@@@@1@17@@oe@2-2-2013
21421016@unknown@formal@none@1@S@A Sanwa Bank spokesman denied that the finance ministry played any part in the bank's decision.@@@@1@16@@oe@2-2-2013
21421017@unknown@formal@none@1@S@"We made our own decision," he said.@@@@1@7@@oe@2-2-2013
21421018@unknown@formal@none@1@S@Still, Mr. Utsumi may have a hard time convincing market analysts who have rightly or wrongly believed that the ministry played a role in orchestrating recent moves by Japanese banks.@@@@1@30@@oe@2-2-2013
21421019@unknown@formal@none@1@S@All week there has been much speculation in financial circles in Tokyo and abroad about the ministry's real position.@@@@1@19@@oe@2-2-2013
21421020@unknown@formal@none@1@S@Bank analysts say ministry officials have been growing increasingly concerned during the past few months about Japanese banks getting in over their heads.@@@@1@23@@oe@2-2-2013
21421021@unknown@formal@none@1@S@"The {ministry} thinks the banks don't know what they are doing, that they have very little idea how to cope with risk," said one foreign bank analyst who asked not to be identified.@@@@1@33@@oe@2-2-2013
21421022@unknown@formal@none@1@S@"The {ministry} wants to see the Japanese banks pull in their horns" on leveraged buy-outs, he added.@@@@1@17@@oe@2-2-2013
21421023@unknown@formal@none@1@S@Although some of the Japanese banks involved in the first proposed bid for UAL bowed out because they found the terms unattractive, observers here say they have a hard time believing that commercial considerations were the only reason.@@@@1@38@@oe@2-2-2013
21421024@unknown@formal@none@1@S@Japanese banks are under "political pressure" as well, the analyst said.@@@@1@11@@oe@2-2-2013
21421025@unknown@formal@none@1@S@Moreover, analysts point out that Japanese banks have a reputation for doing deals that aren't extremely profitable if they offer the chance to build market share, cement an important business relationship or curry favor with powerful bureaucrats.@@@@1@37@@oe@2-2-2013
21421026@unknown@formal@none@1@S@Clearly, some financial authorities are concerned about the Japanese banks role in leveraged buy-outs.@@@@1@14@@oe@2-2-2013
21421027@unknown@formal@none@1@S@At a news conference this week, Bank of Japan Gov. Satoshi Sumita cautioned banks to take a "prudent" stance regarding highly leveraged deals.@@@@1@23@@oe@2-2-2013
21421028@unknown@formal@none@1@S@Despite Mr. Sumita's statements, it is the Finance Ministry, not the central bank, that makes policy decisions.@@@@1@17@@oe@2-2-2013
21421029@unknown@formal@none@1@S@While recent events may cool some of the leveraged buy-out fever, Japanese banks aren't likely to walk away from the game.@@@@1@21@@oe@2-2-2013
21421030@unknown@formal@none@1@S@Despite the risks, the deals can be an attractive way for Japanese banks to increase their presence in the U.S. market, bank analysts say.@@@@1@24@@oe@2-2-2013
21421031@unknown@formal@none@1@S@Flush with cash at home, but with fewer customers to lend to, leading banks are eager to expand overseas.@@@@1@19@@oe@2-2-2013
21421032@unknown@formal@none@1@S@Jumping in on big deals is a high profile way to leapfrog the problem of not having a strong retail-banking network.@@@@1@21@@oe@2-2-2013
21422001@unknown@formal@none@1@S@France's national tobacco company, known for making brown-tobacco cigarettes such as Gauloises and Gitanes, is branching out.@@@@1@17@@oe@2-2-2013
21422002@unknown@formal@none@1@S@Concerned by dipping demand for its traditional products, it is moving not only into blonde cigarettes, but also into electronic car-parking payment cards to be sold in neighborhood tobacco stores.@@@@1@30@@oe@2-2-2013
21422003@unknown@formal@none@1@S@Brown tobacco in France is a more pungent, stronger grade than the lighter grade, or blonde tobacco, used in so-called American-style cigarettes.@@@@1@22@@oe@2-2-2013
21422004@unknown@formal@none@1@S@"We aren't Philip Morris Cos.," says Bertrand de Galle, chairman of government-owned Societe Nationale d'Exploitation Industrielle des Tabacs & Allumettes S.A., known as Seita.@@@@1@24@@oe@2-2-2013
21422005@unknown@formal@none@1@S@He says that because Seita's profits are limited by government-controlled cigarette prices, he doesn't have the cash to diversify as heavily into food and drink as the U.S. concern has done.@@@@1@31@@oe@2-2-2013
21422006@unknown@formal@none@1@S@(Last year, for example, Seita's net profit soared 150% to 461.6 million French francs ($73.5 million) on sales of FFr27.68 billion-a 1.7% profit margin.)@@@@1@24@@oe@2-2-2013
21422007@unknown@formal@none@1@S@Instead, he said in an interview, he is looking for ways to exploit France's network of 39,000 tobacco agents, most of them cafes.@@@@1@23@@oe@2-2-2013
21422008@unknown@formal@none@1@S@While Seita doesn't own the French tabacs, its close alliance with them offers distribution possibilities.@@@@1@15@@oe@2-2-2013
21422009@unknown@formal@none@1@S@One proposal is to introduce a new payment system for parking in Paris.@@@@1@13@@oe@2-2-2013
21422010@unknown@formal@none@1@S@Instead of paying for parking by putting money in the existing machines, which deliver little paper receipts, drivers would be able to buy electronic cards in local tobacco shops.@@@@1@29@@oe@2-2-2013
21422011@unknown@formal@none@1@S@Once activated, the card would sit in the car's window, showing traffic wardens how much time the motorist could remain.@@@@1@20@@oe@2-2-2013
21422012@unknown@formal@none@1@S@When the motorist returned to his car he could turn the card off and, if it showed time remaining, save it for later.@@@@1@23@@oe@2-2-2013
21422013@unknown@formal@none@1@S@Seita is a partner in the project, which was developed by Matra SA using Japanese technology.@@@@1@16@@oe@2-2-2013
21422014@unknown@formal@none@1@S@Seita and Matra currently are negotiating with city officials for the right to begin service.@@@@1@15@@oe@2-2-2013
21422015@unknown@formal@none@1@S@And Seita is considering further diversification.@@@@1@6@@oe@2-2-2013
21422016@unknown@formal@none@1@S@It wanted to buy RJR Nabisco Inc.'s French cracker subsidiary, Belin, in hopes of selling its products in tobacco stores, but lost the bidding to food group BSN SA.@@@@1@29@@oe@2-2-2013
21422017@unknown@formal@none@1@S@It currently is considering bidding for Swedish Match Co.@@@@1@9@@oe@2-2-2013
21422018@unknown@formal@none@1@S@And it retains an interest in acquiring candies and other articles that might be sold in tobacco shops.@@@@1@18@@oe@2-2-2013
21422019@unknown@formal@none@1@S@It also is trying to shore up its tobacco business.@@@@1@10@@oe@2-2-2013
21422020@unknown@formal@none@1@S@Brown-tobacco cigarettes such as Gauloises now make up just 40% of the French tobacco market, half the level of about two decades ago.@@@@1@23@@oe@2-2-2013
21422021@unknown@formal@none@1@S@While Seita retains a manufacturing monopoly in France, it is being hurt by rising imports and from waning cigarette demand.@@@@1@20@@oe@2-2-2013
21422022@unknown@formal@none@1@S@So Seita has introduced blonde cigarettes under the Gauloises label, and intends to relaunch the unsuccessful Gitanes Blondes in new packaging, similar to the slide-packs used by brown-tobacco Gitanes.@@@@1@29@@oe@2-2-2013
21422023@unknown@formal@none@1@S@The aim, says Mr. de Galle, is to win market share from imported cigarettes, and to persuade smokers who are switching to blonde cigarettes to keep buying French.@@@@1@28@@oe@2-2-2013
21423001@unknown@formal@none@1@S@When the Supreme Court upheld Missouri's abortion restrictions last July, the justices almost certainly didn't have drunk driving, trespassing and false imprisonment on their minds.@@@@1@25@@oe@2-2-2013
21423002@unknown@formal@none@1@S@But the 5-4 ruling may have had as much immediate impact on those activities -- especially trespassing -- as on abortion rights.@@@@1@22@@oe@2-2-2013
21423003@unknown@formal@none@1@S@The decision, Webster vs. Reproductive Health Services, illustrates how Supreme Court rulings often have a ripple effect, spreading into areas of law and policy that weren't part of the actual cases decided and that never were contemplated by the justices.@@@@1@40@@oe@2-2-2013
21423004@unknown@formal@none@1@S@In the Missouri case, unforeseen consequences may have arisen because the high court reinstated the preamble of the state's 1986 abortion law.@@@@1@22@@oe@2-2-2013
21423005@unknown@formal@none@1@S@The preamble says that human life begins at conception and that unborn children have rights protected by the Constitution.@@@@1@19@@oe@2-2-2013
21423006@unknown@formal@none@1@S@Last year, a federal appeals court in St. Louis said the preamble was unconstitutional, citing an earlier Supreme Court ruling that states can't justify stricter abortion curbs by changing the definition of when life begins.@@@@1@35@@oe@2-2-2013
21423007@unknown@formal@none@1@S@But the Supreme Court concluded that it was premature to rule on the constitutionality of the preamble because the definition of human life hadn't yet been used to restrict abortion services.@@@@1@31@@oe@2-2-2013
21423008@unknown@formal@none@1@S@The high court majority said it was up to the state courts for now to decide whether the definition has any bearing on other state laws.@@@@1@26@@oe@2-2-2013
21423009@unknown@formal@none@1@S@Already, local Missouri judges have relied on the restored preamble in two separate cases to throw out criminal trespass charges against anti-abortion demonstrators who blocked access to Reproductive Health Services, an abortion clinic in St. Louis.@@@@1@36@@oe@2-2-2013
21423010@unknown@formal@none@1@S@The protesters said their actions were justified by the desire to save the lives of unborn children.@@@@1@17@@oe@2-2-2013
21423011@unknown@formal@none@1@S@Under a 1981 Missouri law, persons accused of some crimes, including trespassing, may offer a defense that their actions were justified "as an emergency measure to avoid an imminent public or private injury."@@@@1@33@@oe@2-2-2013
21423012@unknown@formal@none@1@S@Relying on the preamble's statement that a fetus is an unborn child, the two St. Louis County Circuit Court judges in August accepted the justification that the abortion clinic protesters were trying to save lives.@@@@1@35@@oe@2-2-2013
21423013@unknown@formal@none@1@S@In another case, a protester, Ann O'Brien, was convicted of trespass before the Supreme Court's Webster ruling.@@@@1@17@@oe@2-2-2013
21423014@unknown@formal@none@1@S@Last week, when her appeal was argued before the Missouri Court of Appeals, her lawyer also relied on the preamble.@@@@1@20@@oe@2-2-2013
21423015@unknown@formal@none@1@S@"The effect of the Supreme Court Webster opinion is that it left room for grass to grow in the cracks of Roe vs. Wade, and I think this is one of the cracks," said Mark Belz, a St. Louis lawyer who represented Ms. O'Brien and the other St. Louis protesters.@@@@1@50@@oe@2-2-2013
21423016@unknown@formal@none@1@S@Roe vs. Wade was the Supreme Court's 1973 decision that recognized a woman's right to abortion.@@@@1@16@@oe@2-2-2013
21423017@unknown@formal@none@1@S@Mario Mandina, president of Kansas City Lawyers for Life, says that if abortion foes succeed in using the preamble to escape prosecution for trespass, "This will shut down abortion in Missouri.@@@@1@31@@oe@2-2-2013
21423018@unknown@formal@none@1@S@There's no risk to the protesters, and you can't keep an abortion clinic open if there are 3,000 people standing outside every day."@@@@1@23@@oe@2-2-2013
21423019@unknown@formal@none@1@S@That would be an ironic result of a case in which the Supreme Court expressly stopped short of overruling Roe vs. Wade.@@@@1@22@@oe@2-2-2013
21423020@unknown@formal@none@1@S@In two other cases, the possible consequences of the Supreme Court ruling appear even more unintended.@@@@1@16@@oe@2-2-2013
21423021@unknown@formal@none@1@S@In one, the lawyer for a 20-year-old resident of Columbia, Mo., who was charged with drunk driving, argued that his client should be treated as a 21-year-old adult because his actual age should be calculated from conception, not from birth.@@@@1@40@@oe@2-2-2013
21423022@unknown@formal@none@1@S@In Missouri, those caught drinking and driving between the ages of 16 and 21 may have their licenses revoked for one year, while those 21 or older suffer only a 30-day suspension.@@@@1@32@@oe@2-2-2013
21423023@unknown@formal@none@1@S@A Boone County judge rejected the motion, but Daniel Dodson, a Jefferson City lawyer, says he has appealed.@@@@1@18@@oe@2-2-2013
21423024@unknown@formal@none@1@S@And in a case filed in federal court in August, a lawyer is arguing that Missouri authorities are wrongfully imprisoning the fetus of a pregnant woman who is in jail for theft and forgery.@@@@1@34@@oe@2-2-2013
21424001@unknown@formal@none@1@S@In terms of sheer brutality, the Somali regime of Siad Barre may rank as No. 1 in the world.@@@@1@19@@oe@2-2-2013
21424002@unknown@formal@none@1@S@The only reason that Somalia remains in obscurity is numbers: a sparsely populated wasteland of 8.5 million people spread out over an expanse nearly the size of Texas.@@@@1@28@@oe@2-2-2013
21424003@unknown@formal@none@1@S@The Barre dictatorship simply is limited in the amount of people it can torture and kill.@@@@1@16@@oe@2-2-2013
21424004@unknown@formal@none@1@S@Beheading small children, stabbing elderly people to death, raping and shooting women, and burying people alive are just a few of the grisly activities that the Somali armed forces have been engaged in over the past two years.@@@@1@38@@oe@2-2-2013
21424005@unknown@formal@none@1@S@Up to 500,000 Somalis have escaped to the relative safety of Marxist Ethiopia because of the behavior of President Barre's troops.@@@@1@21@@oe@2-2-2013
21424006@unknown@formal@none@1@S@In the port of Berbera, for example, hundreds of men of the rival Issak clan were rounded up in May 1988, imprisoned, and then taken out at night in groups of five to 50 men to be executed without any judicial process whatsoever.@@@@1@43@@oe@2-2-2013
21424007@unknown@formal@none@1@S@Guns were never used: Each man was stabbed to death with a large knife.@@@@1@14@@oe@2-2-2013
21424008@unknown@formal@none@1@S@The horrific details are only now emerging from a painstakingly documented report, based on hundreds of interviews with randomly selected refugees.@@@@1@21@@oe@2-2-2013
21424009@unknown@formal@none@1@S@The study was done by Robert Gersony, a consultant to the U.S. State Department who has years of experience in investigating human-rights abuses on both sides of the left-right ideological divide.@@@@1@31@@oe@2-2-2013
21424010@unknown@formal@none@1@S@What gives these events particular significance, however, is the fact that they are part of a wider drama affecting the strategic positions of both the U.S. and the Soviet Union on the horn of Africa.@@@@1@35@@oe@2-2-2013
21424011@unknown@formal@none@1@S@Not since the late 1970s has the horn been so up for grabs as it has suddenly become in just the past few weeks.@@@@1@24@@oe@2-2-2013
21424012@unknown@formal@none@1@S@Mr. Barre's rule is crumbling fast.@@@@1@6@@oe@2-2-2013
21424013@unknown@formal@none@1@S@Mutinies wrack his armed forces (really just an armed gang), which control less than half the country.@@@@1@17@@oe@2-2-2013
21424014@unknown@formal@none@1@S@Inflation is at record levels.@@@@1@5@@oe@2-2-2013
21424015@unknown@formal@none@1@S@Desperate, he has called in the Libyans to help fight the rebels of the Somali National Movement in the north, which is only one of several groups picking away at the regime in the capital of Mogadishu.@@@@1@37@@oe@2-2-2013
21424016@unknown@formal@none@1@S@Seventy years old and a self-declared "scientific socialist," President Barre has a power base, composed only of his minority Mareham clan, that according to observers is "narrowing."@@@@1@27@@oe@2-2-2013
21424017@unknown@formal@none@1@S@The U.S.'s interest in Somalia consists of a single runway at the port of Berbera, which U.S. military aircraft have the right to use for surveillance of the Gulf of Aden and the Indian Ocean.@@@@1@35@@oe@2-2-2013
21424018@unknown@formal@none@1@S@That strip of concrete is backed up by a few one-story, air-conditioned shacks where a handful of American nationals -- buttressed by imported food, cold soft drinks and back issues of Sports Illustrated -- maintain radio contact with the outside world.@@@@1@41@@oe@2-2-2013
21424019@unknown@formal@none@1@S@In the past two years, the desert behind them has become a land of mass executions and utter anarchy, where, due to Mr. Barre's brutality and ineptitude, nobody is any longer in control.@@@@1@33@@oe@2-2-2013
21424020@unknown@formal@none@1@S@As long as the rival Soviet-backed regime of Mengistu Haile Mariam held a total gridlock over neighboring Ethiopia, the U.S. was forced to accept that lonely Berbera runway as a distant No. 2 to the Soviets' array of airfields next door.@@@@1@41@@oe@2-2-2013
21424021@unknown@formal@none@1@S@But due to dramatic events on the battlefield over the past few days and weeks, those Soviet bases may soon be as endangered and as lonely as the American runway.@@@@1@30@@oe@2-2-2013
21424022@unknown@formal@none@1@S@On Sept. 7, I wrote on these pages about the killing and capturing of 10,000 Ethiopian soldiers by Eritrean and Tigrean guerrillas.@@@@1@22@@oe@2-2-2013
21424023@unknown@formal@none@1@S@Recently, in Wollo province in the center of Ethiopia, Tigrean forces have killed, wounded and captured an additional 20,000 government troops.@@@@1@21@@oe@2-2-2013
21424024@unknown@formal@none@1@S@(Think what these numbers mean -- considering the headline space devoted to hundreds of deaths in Lebanon, a small country of little strategic importance!)@@@@1@24@@oe@2-2-2013
21424025@unknown@formal@none@1@S@Tigrean armies are now 200 miles north of Addis Ababa, threatening the town of Dese, which would cut off Mr. Mengistu's capital from the port of Assab, through which all fuel and other supplies reach Addis Ababa.@@@@1@37@@oe@2-2-2013
21424026@unknown@formal@none@1@S@As a result, Mr. Mengistu has been forced to transfer thousands of troops from Eritrea just to hold the town, thereby risking the loss of even more territory in Eritrea only to keep the Tigreans at bay.@@@@1@37@@oe@2-2-2013
21424027@unknown@formal@none@1@S@Mr. Mengistu is in an increasingly weak position: Half his army is tied down defending the northern city of Asmara from the Eritreans.@@@@1@23@@oe@2-2-2013
21424028@unknown@formal@none@1@S@The weaker he gets, the more he turns toward the U.S. for help.@@@@1@13@@oe@2-2-2013
21424029@unknown@formal@none@1@S@While the Tigreans are communists, like the Eritreans they are among the most anti-Soviet guerrillas in the world, having suffered more than a decade of aerial bombardment by the Soviet-supplied Mengistu air force.@@@@1@33@@oe@2-2-2013
21424030@unknown@formal@none@1@S@What this all means in shorthand is that Soviet dominance in Ethiopia is collapsing as fast as President Barre's regime in Somalia is.@@@@1@23@@oe@2-2-2013
21424031@unknown@formal@none@1@S@The U.S., therefore, has a historic opportunity both to strike a blow for human rights in Somalia and to undo the superpower flip-flop of the late 1970s on the Horn of Africa.@@@@1@32@@oe@2-2-2013
21424032@unknown@formal@none@1@S@Back to Somalia:@@@@1@3@@oe@2-2-2013
21424033@unknown@formal@none@1@S@The State Department, to its credit, has already begun distancing itself from Mr. Barre, evinced by its decision to publish the Gersony report (which the press has ignored).@@@@1@28@@oe@2-2-2013
21424034@unknown@formal@none@1@S@What's more, the U.S. has suspended $2.5 million in military aid and $1 million in economic aid.@@@@1@17@@oe@2-2-2013
21424035@unknown@formal@none@1@S@But this is not enough.@@@@1@5@@oe@2-2-2013
21424036@unknown@formal@none@1@S@Because the U.S. is still perceived to be tied to Mr. Barre, when he goes the runway could go too.@@@@1@20@@oe@2-2-2013
21424037@unknown@formal@none@1@S@Considering how tenuous the security of that runway is anyway, the better option -- both morally and strategically -- would be for the Bush administration to blast the regime publicly, in terms clear enough for all influential Somalis to understand.@@@@1@40@@oe@2-2-2013
21424038@unknown@formal@none@1@S@It is a certainty that Mr. Barre's days are numbered.@@@@1@10@@oe@2-2-2013
21424039@unknown@formal@none@1@S@The U.S. should take care, however, that its own position in the country does not go down with him.@@@@1@19@@oe@2-2-2013
21424040@unknown@formal@none@1@S@Nobody is sure what will come next in Somalia or whom the successor might be.@@@@1@15@@oe@2-2-2013
21424041@unknown@formal@none@1@S@But as one expert tells me: "Whoever it is will have to work pretty damn hard to be worse than Barre."@@@@1@21@@oe@2-2-2013
21424042@unknown@formal@none@1@S@While the State Department positions itself for the post-Barre period in Somalia, it should continue to back former President Carter's well-intentioned role as a mediator between Mr. Mengistu and the Eritrean guerrillas in Ethiopia, while concomitantly opening up channels of communications with the Tigrean rebels through neighboring Sudan.@@@@1@48@@oe@2-2-2013
21424043@unknown@formal@none@1@S@Ethiopian politics are the most sophisticated, secretive and Byzantine in all of black Africa.@@@@1@14@@oe@2-2-2013
21424044@unknown@formal@none@1@S@Remember that it took Mr. Mengistu many months, in what became known as the "creeping coup," to topple Emperor Haile Selassie in 1974 and 1975.@@@@1@25@@oe@2-2-2013
21424045@unknown@formal@none@1@S@There is simply no way to engineer a succession covertly, as is sometimes possible elsewhere on the continent.@@@@1@18@@oe@2-2-2013
21424046@unknown@formal@none@1@S@But the U.S. has one great advantage: The Soviets are universally loathed throughout Ethiopia for what they did to the country this past decade -- famine and all.@@@@1@28@@oe@2-2-2013
21424047@unknown@formal@none@1@S@It's not just in Eastern Europe where the march of events is finally on the U.S. side, but on the horn of Africa as well.@@@@1@25@@oe@2-2-2013
21424048@unknown@formal@none@1@S@The only U.S. liability in the region is what remains of the link to Mr. Barre, and that should be cut fast.@@@@1@22@@oe@2-2-2013
21424049@unknown@formal@none@1@S@Mr. Kaplan, author of "Surrender or Starve: The Wars Behind the Famine" (Westview Press, 1988), lives in Lisbon.@@@@1@18@@oe@2-2-2013
21425001@unknown@formal@none@1@S@Translant Inc., Rancho Cucamonga, Calif., got an $86 million Navy contract for missile-launch systems.@@@@1@14@@oe@2-2-2013
21425002@unknown@formal@none@1@S@General Electric Co. received a $30.6 million Air Force contract for MX-missile nose cones.@@@@1@14@@oe@2-2-2013
21425003@unknown@formal@none@1@S@Goodyear Tire & Rubber Co. was awarded a $19.1 million Army contract for armored-vehicle parts.@@@@1@15@@oe@2-2-2013
21425004@unknown@formal@none@1@S@Analytic Sciences Corp. was awarded a $10.1 million Air Force contract for technical support.@@@@1@14@@oe@2-2-2013
21426001@unknown@formal@none@1@S@McCormick Capital Inc. said the final proration factor was 0.628394 on its oversubscribed, $3-a-share tender offer to buy back as many as 1.1 million of its common shares.@@@@1@28@@oe@2-2-2013
21426002@unknown@formal@none@1@S@Payment will begin "as soon as Oct. 25," the company said.@@@@1@11@@oe@2-2-2013
21426003@unknown@formal@none@1@S@McCormick is a developer and manager of futures-investment limited partnerships.@@@@1@10@@oe@2-2-2013
21426004@unknown@formal@none@1@S@Through a separate agreement between Peter Dauchy, president, and a group of selling shareholders, the company said, Mr. Dauchy will on Oct. 30 buy 231,405 shares from the group, boosting his stake to about 717,000 shares, or 50.7% of the total after the buy-back.@@@@1@44@@oe@2-2-2013
21427001@unknown@formal@none@1@S@Canada's consumer price index rose a seasonally adjusted 0.2% in September from August, Statistics Canada, a federal agency, said.@@@@1@19@@oe@2-2-2013
21427002@unknown@formal@none@1@S@The rise followed boosts of 0.1% in August, 0.7% in July and 0.6% in June.@@@@1@15@@oe@2-2-2013
21428001@unknown@formal@none@1@S@OPEC's ability to produce more petroleum than it can sell is beginning to cast a shadow over world oil markets.@@@@1@20@@oe@2-2-2013
21428002@unknown@formal@none@1@S@Output from the Organization of Petroleum Exporting Countries is already at a high for the year and most member nations are running flat out.@@@@1@24@@oe@2-2-2013
21428003@unknown@formal@none@1@S@But industry and OPEC officials agree that a handful of members still have enough unused capacity to glut the market and cause an oil-price collapse a few months from now if OPEC doesn't soon adopt a new quota system to corral its chronic cheaters.@@@@1@44@@oe@2-2-2013
21428004@unknown@formal@none@1@S@As a result, the effort by some oil ministers to get OPEC to approve a new permanent production-sharing agreement next month is taking on increasing urgency.@@@@1@26@@oe@2-2-2013
21428005@unknown@formal@none@1@S@The organization is scheduled to meet in Vienna beginning Nov. 25.@@@@1@11@@oe@2-2-2013
21428006@unknown@formal@none@1@S@So far this year, rising demand for OPEC oil and production restraint by some members have kept prices firm despite rampant cheating by others.@@@@1@24@@oe@2-2-2013
21428007@unknown@formal@none@1@S@But that could change if demand for OPEC's oil softens seasonally early next year as some think may happen.@@@@1@19@@oe@2-2-2013
21428008@unknown@formal@none@1@S@OPEC is currently producing more than 22 million barrels a day, sharply above its nominal, self-imposed fourth-quarter ceiling of 20.5 million, according to OPEC and industry officials at an oil conference here sponsored by the Oil Daily and the International Herald Tribune.@@@@1@42@@oe@2-2-2013
21428009@unknown@formal@none@1@S@At that rate, a majority of OPEC's 13 members have reached their output limits, they said.@@@@1@16@@oe@2-2-2013
21428010@unknown@formal@none@1@S@But it is estimated that at least three million barrels a day -- and possibly as much as seven million barrels a day -- of spare capacity still exists within OPEC.@@@@1@31@@oe@2-2-2013
21428011@unknown@formal@none@1@S@Most is concentrated in five Persian Gulf countries, including his own, Issam Al-Chalabi, Iraq's oil minister, told the conference Friday.@@@@1@20@@oe@2-2-2013
21428012@unknown@formal@none@1@S@He puts OPEC's current capacity at 28 million to 29 million barrels a day.@@@@1@14@@oe@2-2-2013
21428013@unknown@formal@none@1@S@That's higher than some other estimates.@@@@1@6@@oe@2-2-2013
21428014@unknown@formal@none@1@S@Ali Khalifa Al-Sabah, Kuwait's oil minister, recently estimated OPEC capacity at 25 million barrels a day.@@@@1@16@@oe@2-2-2013
21428015@unknown@formal@none@1@S@Either way, the overhang is big enough to keep delicately balanced oil markets on edge.@@@@1@15@@oe@2-2-2013
21428016@unknown@formal@none@1@S@Even modest amounts of additional output by those with the huge extra capacity and reserves, such as Saudi Arabia and Iraq, could upset the market.@@@@1@25@@oe@2-2-2013
21428017@unknown@formal@none@1@S@The Iraqi oil minister and Saudi oil minister Hisham Nazer insisted in their comments to the conference that their countries would act responsibly to maintain a stable market.@@@@1@28@@oe@2-2-2013
21428018@unknown@formal@none@1@S@However, in interviews later, both ministers stressed that they expect future OPEC quotas to be based mainly on the production capacity and reserves of each member.@@@@1@26@@oe@2-2-2013
21428019@unknown@formal@none@1@S@Under that approach, countries with the most unused oil capacity would get bigger shares of any future increases in OPEC's production ceiling than they would under the current system.@@@@1@29@@oe@2-2-2013
21428020@unknown@formal@none@1@S@"If you are already producing at 95% or 100% of your capacity, what's the good to be told you can produce at 105% of capacity?" asked Mr. Al-Chalabi.@@@@1@28@@oe@2-2-2013
21428021@unknown@formal@none@1@S@At an inconclusive Geneva meeting late last month, OPEC's oil ministers halfheartedly approved another increase of one million barrels a day in their production ceiling.@@@@1@25@@oe@2-2-2013
21428022@unknown@formal@none@1@S@They doled it out using the existing formula, however, which meant that even those countries that couldn't produce more received higher official allotments.@@@@1@23@@oe@2-2-2013
21428023@unknown@formal@none@1@S@The main effect of the ceiling boost was to "legitimize" some of the overproduction already coming from the quota cheaters.@@@@1@20@@oe@2-2-2013
21428024@unknown@formal@none@1@S@Still, there was a breakthrough at Geneva.@@@@1@7@@oe@2-2-2013
21428025@unknown@formal@none@1@S@Previously, no OPEC member had been willing to accept a reduction in its percentage share of the group's total output target, or ceiling.@@@@1@23@@oe@2-2-2013
21428026@unknown@formal@none@1@S@But the concept of disproportionate quotas for those with unused capacity, advanced there in an Iranian proposal, was generally endorsed by the ministers.@@@@1@23@@oe@2-2-2013
21428027@unknown@formal@none@1@S@In the end politics got in the way.@@@@1@8@@oe@2-2-2013
21428028@unknown@formal@none@1@S@Libya accepted Iran's proposal only so long as it was promised production parity with Kuwait.@@@@1@15@@oe@2-2-2013
21428029@unknown@formal@none@1@S@And the United Arab Emirates, a chronic quota cheater, refused to give any guarantee it would change its ways.@@@@1@19@@oe@2-2-2013
21428030@unknown@formal@none@1@S@But the oil ministers continue to study the plan, and it will probably be the basis for discussion at next month's meeting.@@@@1@22@@oe@2-2-2013
21428031@unknown@formal@none@1@S@It's understood several compromises already have been worked into the plan.@@@@1@11@@oe@2-2-2013
21428032@unknown@formal@none@1@S@The ceiling would be lifted to 21.5 million barrels to provide Kuwait and the United Arab Emirates much higher official quotas while reducing percentage shares of some others.@@@@1@28@@oe@2-2-2013
21428033@unknown@formal@none@1@S@Libya's previous conditions are no longer considered a problem, although the United Arab Emirates is still an issue.@@@@1@18@@oe@2-2-2013
21428034@unknown@formal@none@1@S@Saudi Arabia, OPEC's kingpin, also has surfaced as a possible obstacle, some OPEC sources said.@@@@1@15@@oe@2-2-2013
21428035@unknown@formal@none@1@S@Insisting on a 24.5% share of any ceiling, Saudi officials have long pressed for the pro rata distribution of increases to all members.@@@@1@23@@oe@2-2-2013
21428036@unknown@formal@none@1@S@In Geneva, however, they supported Iran's proposal because it would have left the Saudi percentage of the OPEC total intact, and increased actual Saudi volume to nearly 5.3 million barrels daily from five million.@@@@1@34@@oe@2-2-2013
21428037@unknown@formal@none@1@S@Some of the proposed modifications since, however, call on Saudi Arabia to "give back" to the production-sharing pool a token 23,000 barrels.@@@@1@22@@oe@2-2-2013
21428038@unknown@formal@none@1@S@Though tiny, that's a reduction in its share.@@@@1@8@@oe@2-2-2013
21428039@unknown@formal@none@1@S@Mr. Nazer, the Saudi oil minister, reiterated here that the kingdom would insist on maintaining its percentage share of OPEC production under any quota revisions.@@@@1@25@@oe@2-2-2013
21428040@unknown@formal@none@1@S@"Under any circumstances, Saudi Arabia should get more" rather than less, Mr. Nazer said.@@@@1@14@@oe@2-2-2013
21429001@unknown@formal@none@1@S@In a blow to France's Rafale jet fighter, the French navy for the first time publicly stated its desire to buy 15 McDonnell Douglas Corp. F-18 Hornets to defend its aircraft carriers.@@@@1@32@@oe@2-2-2013
21429002@unknown@formal@none@1@S@The statement is likely to sharpen the debate within France's military establishment over the Rafale, which is made by Avions Marcel Dassault-Breguet Aviation SA.@@@@1@24@@oe@2-2-2013
21429003@unknown@formal@none@1@S@In an interview in the navy's official weekly magazine Cols Bleus, the navy's second-in-command, Adm. Yves Goupil, said the navy still intends to buy 86 Rafales as scheduled in the late 1990s and early 21st century.@@@@1@36@@oe@2-2-2013
21429004@unknown@formal@none@1@S@The air force is to take at least 250 more.@@@@1@10@@oe@2-2-2013
21429005@unknown@formal@none@1@S@Adm. Goupil said the navy can't wait until 1998, when the naval Rafale becomes available, to replace its obsolete fleet of American-made Crusaders, used since the 1950s to protect carriers from attack.@@@@1@32@@oe@2-2-2013
21429006@unknown@formal@none@1@S@Rather than renovate the Crusaders, which Dassault is proposing to do for around 1.8 billion French francs ($286.6 million), Adm. Goupil said the navy wants to buy used F-18s from the U.S. Navy.@@@@1@33@@oe@2-2-2013
21429007@unknown@formal@none@1@S@Officially, the statement isn't an attack on the Rafale.@@@@1@9@@oe@2-2-2013
21429008@unknown@formal@none@1@S@Adm. Goupil said that when the F-18s wear out, the navy is prepared to take Rafales to replace them.@@@@1@19@@oe@2-2-2013
21429009@unknown@formal@none@1@S@But unofficially, senior navy officials sharply criticize the Rafale as an air force plane ill-suited to carrier use.@@@@1@18@@oe@2-2-2013
21429010@unknown@formal@none@1@S@Although they never said so publicly, they have made no secret of their preference for the F-18 on operational grounds.@@@@1@20@@oe@2-2-2013
21429011@unknown@formal@none@1@S@Adm. Goupil's comments are likely to inflame the broader dispute within the military establishment here over the role of Dassault.@@@@1@20@@oe@2-2-2013
21429012@unknown@formal@none@1@S@Although government-controlled, Dassault still is run by the founder's son, Chairman Serge Dassault, who has fiercely protected his company's independence.@@@@1@20@@oe@2-2-2013
21429013@unknown@formal@none@1@S@The Rafale project is the result of France's inability jointly to develop a plane with other countries, and French officials question whether the state can continue paying for expensive independent programs.@@@@1@31@@oe@2-2-2013
21429014@unknown@formal@none@1@S@So far, Mr. Dassault has resisted pressure to change.@@@@1@9@@oe@2-2-2013
21429015@unknown@formal@none@1@S@What brought the naval issue to a head is that the Crusaders are literally falling apart, without any immediate plan to replace them.@@@@1@23@@oe@2-2-2013
21429016@unknown@formal@none@1@S@Adm. Goupil, a former Crusader squadron leader, said that the last other country to use Crusaders, the Philippines, retired its last ones two years ago.@@@@1@25@@oe@2-2-2013
21429017@unknown@formal@none@1@S@A French Crusader crash a few months ago heightened pressure for new planes here.@@@@1@14@@oe@2-2-2013
21429018@unknown@formal@none@1@S@Adm. Goupil rejected Dassault's proposal to renovate the Crusaders, saying the cost was impossible to estimate.@@@@1@16@@oe@2-2-2013
21429019@unknown@formal@none@1@S@Even modernized, he said, the Crusaders represent an obsolete and dangerous protection for the aircraft carriers France has sent to meet such crises as the wars in Lebanon and the Persian Gulf.@@@@1@32@@oe@2-2-2013
21429020@unknown@formal@none@1@S@Defense Minister Jean-Pierre Chevenement told a meeting of the Anglo-American Press Association that the question of modernizing the Crusaders or buying used F18s is a "political" decision that he will make in due time.@@@@1@34@@oe@2-2-2013
21430001@unknown@formal@none@1@S@THE SUPREME COURT ruling upholding Missouri's restrictive abortion law was Webster vs. Reproductive Health Services.@@@@1@15@@oe@2-2-2013
21430002@unknown@formal@none@1@S@The citation was misstated in Friday's edition.@@@@1@7@@oe@2-2-2013
21431001@unknown@formal@none@1@S@Spending by average Japanese households in August fell an adjusted 1.9% from a year earlier, the Statistics Bureau of the Prime Minister's Office said.@@@@1@24@@oe@2-2-2013
21431002@unknown@formal@none@1@S@The bureau cited typhoons in the month that discouraged shopping and leisure opportunities.@@@@1@13@@oe@2-2-2013
21431003@unknown@formal@none@1@S@Spending by Japanese households averaged 290,782 yen ($2,052.10) in August.@@@@1@10@@oe@2-2-2013
21431004@unknown@formal@none@1@S@In nominal terms it rose 0.6% from a year earlier before adjustment.@@@@1@12@@oe@2-2-2013
21431005@unknown@formal@none@1@S@August adjusted spending by wage-earning families was down 0.6% to 309,381 yen from a year earlier.@@@@1@16@@oe@2-2-2013
21431006@unknown@formal@none@1@S@The real income of wage-earning families in the month eased 1.2% to 438,845 yen from the previous year.@@@@1@18@@oe@2-2-2013
21432001@unknown@formal@none@1@S@For Cathay Pacific Airways, the smooth ride may be ending.@@@@1@10@@oe@2-2-2013
21432002@unknown@formal@none@1@S@The first signs of trouble came last month when the Hong Kong carrier, a subsidiary of Swire Pacific Ltd., posted a 5% drop in operating profit for the first six months and warned that margins will remain under pressure for the rest of the year.@@@@1@45@@oe@2-2-2013
21432003@unknown@formal@none@1@S@Securities analysts, many of whom scrapped their buy recommendations after seeing Cathay's interim figures, believe more jolts lie ahead.@@@@1@19@@oe@2-2-2013
21432004@unknown@formal@none@1@S@Fuel and personnel costs are rising, and tourism in and through Hong Kong remains clouded by China's turmoil since the June 4 killings in Beijing.@@@@1@25@@oe@2-2-2013
21432005@unknown@formal@none@1@S@In addition, delivery delays for the first two of as many as 28 Boeing 747-400s that the carrier has ordered have raised costs because personnel had been hired to man the planes.@@@@1@32@@oe@2-2-2013
21432006@unknown@formal@none@1@S@And tough competition in the air-freight market is cutting into an important sideline.@@@@1@13@@oe@2-2-2013
21432007@unknown@formal@none@1@S@There also is concern that once Hong Kong reverts to China's sovereignty in 1997, Cathay will be forced to play second fiddle to China's often-disparaged flag carrier, Civil Aviation Administration of China, or CAAC.@@@@1@34@@oe@2-2-2013
21432008@unknown@formal@none@1@S@"The sense is we would never be in a position again where everything works for us the way it did before," says Rod Eddington, Cathay's commercial director.@@@@1@27@@oe@2-2-2013
21432009@unknown@formal@none@1@S@Sarah Hall, an analyst at James Capel (Far East) Ltd., says there isn't much Cathay can do about rising costs for jet fuel, Hong Kong's tight labor market, or the strengthening of the local currency, which is pegged to the U.S. dollar.@@@@1@42@@oe@2-2-2013
21432010@unknown@formal@none@1@S@These factors are further complicated by the airline's push to transform itself from a regional carrier to an international one, Ms. Hall says.@@@@1@23@@oe@2-2-2013
21432011@unknown@formal@none@1@S@Ms. Hall expects Cathay's profit to grow around 13% annually this year and next.@@@@1@14@@oe@2-2-2013
21432012@unknown@formal@none@1@S@In 1988, it earned $2.82 billion Hong Kong (US$361.5 million) on revenue of HK$11.79 billion.@@@@1@15@@oe@2-2-2013
21432013@unknown@formal@none@1@S@Cathay is taking several steps to bolster business.@@@@1@8@@oe@2-2-2013
21432014@unknown@formal@none@1@S@One step is to beef up its fleet.@@@@1@8@@oe@2-2-2013
21432015@unknown@formal@none@1@S@In addition to aircraft from Boeing Co., Cathay announced earlier this year an order for as many as 20 Airbus A330-300s.@@@@1@21@@oe@2-2-2013
21432016@unknown@formal@none@1@S@The expansion, which could cost as much as US$5.7 billion over the next eight years, will expand the fleet to about 43 planes by 1991, up from 30 at the end of last year, according to Sun Hung Kai Securities Ltd.@@@@1@41@@oe@2-2-2013
21432017@unknown@formal@none@1@S@The fuel-efficient Airbus planes will be used largely to replace Cathay's aging fleet of Lockheed Tristars for regional flights, while the Boeing aircraft will be used on long-haul routes to Europe and North America.@@@@1@34@@oe@2-2-2013
21432018@unknown@formal@none@1@S@Cathay also is moving some of its labor-intensive data-processing operations outside Hong Kong.@@@@1@13@@oe@2-2-2013
21432019@unknown@formal@none@1@S@Fierce bidding for young employees in Hong Kong is pushing up Cathay's labor costs by 20% a year for low-level staff, while experienced, skilled employees are leaving the colony as part of the brain drain.@@@@1@35@@oe@2-2-2013
21432020@unknown@formal@none@1@S@Some jobs already have been moved to Australia, and there are plans to place others in Canada.@@@@1@17@@oe@2-2-2013
21432021@unknown@formal@none@1@S@David Bell, a spokesman for the airline, says the move is partly aimed at retaining existing staff who are leaving to secure foreign passports ahead of 1997.@@@@1@27@@oe@2-2-2013
21432022@unknown@formal@none@1@S@Cathay is working to promote Hong Kong as a destination worth visiting on its own merits, rather than just a stopover.@@@@1@21@@oe@2-2-2013
21432023@unknown@formal@none@1@S@Although the June 4 killings in Beijing have hurt its China flights, Cathay's other routes have retained high load factors.@@@@1@20@@oe@2-2-2013
21432024@unknown@formal@none@1@S@Mr. Eddington regards promoting Hong Kong as an important part of attracting visitors from Japan, South Korea and Taiwan, where the number of people looking to travel abroad has surged.@@@@1@30@@oe@2-2-2013
21432025@unknown@formal@none@1@S@There also has been speculation that Cathay will be among the major private-sector participants in the Hong Kong government's plans to build a new airport, with the carrier possibly investing in its own terminal.@@@@1@34@@oe@2-2-2013
21432026@unknown@formal@none@1@S@Cathay officials decline to comment on the speculation.@@@@1@8@@oe@2-2-2013
21432027@unknown@formal@none@1@S@Mr. Eddington sees alliances with other carriers -- particularly Cathay's recent link with AMR Corp.'s American Airlines -- as an important part of Cathay's strategy.@@@@1@25@@oe@2-2-2013
21432028@unknown@formal@none@1@S@But he emphasizes that Cathay hasn't any interest in swapping equity stakes with the U.S. carrier or with Lufthansa, the West German airline with which it has cooperated for about a decade.@@@@1@32@@oe@2-2-2013
21432029@unknown@formal@none@1@S@Analysts believe Cathay is approached for such swaps by other carriers on a regular basis, particularly as the popularity of share exchanges has grown among European carriers.@@@@1@27@@oe@2-2-2013
21432030@unknown@formal@none@1@S@"We think alliances are very important," Mr. Eddington says.@@@@1@9@@oe@2-2-2013
21432031@unknown@formal@none@1@S@"But we'd rather put funds into our own business rather than someone else's.@@@@1@13@@oe@2-2-2013
21432032@unknown@formal@none@1@S@I'm not sure cross-ownership would necessarily make things smoother."@@@@1@9@@oe@2-2-2013
21432033@unknown@formal@none@1@S@In a pattern it aims to copy in several key U.S. destinations, Cathay recently announced plans to serve San Francisco by flying into American Airlines' Los Angeles hub and routing continuing passengers onto a flight on the U.S. carrier.@@@@1@39@@oe@2-2-2013
21432034@unknown@formal@none@1@S@"We'll never have a big operation in the U.S., and they'll never have one as big as us in the Pacific," Mr. Eddington says.@@@@1@24@@oe@2-2-2013
21432035@unknown@formal@none@1@S@"But this way, American will coordinate good extensions to Boston, New York, Chicago and Dallas.@@@@1@15@@oe@2-2-2013
21432036@unknown@formal@none@1@S@We'll coordinate on this end to places like Bangkok, Singapore and Manila."@@@@1@12@@oe@2-2-2013
21432037@unknown@formal@none@1@S@Asian traffic, which currently accounts for 65% of Cathay's business, is expected to continue as the carrier's mainstay.@@@@1@18@@oe@2-2-2013
21432038@unknown@formal@none@1@S@Cathay has long stated its desire to double its weekly flights into China to 14, and it is applying to restart long-canceled flights into Vietnam.@@@@1@25@@oe@2-2-2013
21432039@unknown@formal@none@1@S@Further expansion into southern Europe is also possible, says Mr. Bell, the spokesman.@@@@1@13@@oe@2-2-2013
21432040@unknown@formal@none@1@S@While a large number of Hong Kong companies have reincorporated offshore ahead of 1997, such a move isn't an option for Cathay because it would jeopardize its landing rights in Hong Kong.@@@@1@32@@oe@2-2-2013
21432041@unknown@formal@none@1@S@And Mr. Eddington emphatically rules out a move to London: "Our lifeblood is Hong Kong traffic rights."@@@@1@17@@oe@2-2-2013
21432042@unknown@formal@none@1@S@He says the airline is putting its faith in the Sino-British agreement on Hong Kong's return to China.@@@@1@18@@oe@2-2-2013
21432043@unknown@formal@none@1@S@A special section dealing with aviation rights states that landing rights for Hong Kong's airlines, which include the smaller Hong Kong Dragon Airlines, will continue to be negotiated by Hong Kong's government.@@@@1@32@@oe@2-2-2013
21432044@unknown@formal@none@1@S@But critics fret that post-1997 officials ultimately will be responsible to Beijing.@@@@1@12@@oe@2-2-2013
21432045@unknown@formal@none@1@S@"My feeling is {Cathay doesn't} have a hope in the long run," says an analyst, who declines to be identified.@@@@1@20@@oe@2-2-2013
21432046@unknown@formal@none@1@S@"Cathay would love to keep going, but the general sense is they're going to have to do something."@@@@1@18@@oe@2-2-2013
21432047@unknown@formal@none@1@S@Mr. Eddington acknowledges that the carrier will have to evolve and adapt to local changes, but he feels that the Sino-British agreement is firm ground to build on for the foreseeable future.@@@@1@32@@oe@2-2-2013
21432048@unknown@formal@none@1@S@"We're confident that it protects our route structure," he says, "and our ability to grow and prosper.@@@@1@17@@oe@2-2-2013
21433001@unknown@formal@none@1@S@Falcon Cable Systems Co. said it proposed an amendment that would allow it to increase its debt cap to 65% of the company's fair market value from the 40% currently allowed.@@@@1@31@@oe@2-2-2013
21433002@unknown@formal@none@1@S@Falcon, a limited partnership, said it wanted the increase in order to continue its $2.15-per-unit annual payment, and for expansion and acquisitions.@@@@1@22@@oe@2-2-2013
21433003@unknown@formal@none@1@S@A spokesman for the company said a meeting would be held for shareholders to vote on the amendment before year's end.@@@@1@21@@oe@2-2-2013
21434001@unknown@formal@none@1@S@Friday, October 20, 1989@@@@1@4@@oe@2-2-2013
21434002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
21434003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
21434004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
21434005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 3/4% high, 8 5/8% low, 8 11/16% near closing bid, 8 3/4% offered.@@@@1@16@@oe@2-2-2013
21434006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
21434007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
21434008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
21434009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
21434010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
21434011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
21434012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.50% 15 to 44 days; 8.25% 45 to 72 days; 8.375% 73 to 96 days; 8.125% 97 to 119 days; 8% 120 to 149 days; 7.875% 150 to 179 days; 7.50% 180 to 270 days.@@@@1@44@@oe@2-2-2013
21434013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.55% 30 days; 8.45% 60 days; 8.40% 90 days.@@@@1@24@@oe@2-2-2013
21434014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.05% one month; 8.02% two months; 8% three months; 7.98% six months; 7.95% one year.@@@@1@18@@oe@2-2-2013
21434015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
21434016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
21434017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.55% one month; 8.50% three months; 8.40% six months.@@@@1@15@@oe@2-2-2013
21434018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.45% 30 days; 8.33% 60 days; 8.32% 90 days; 8.15% 120 days; 8.06% 150 days; 7.96% 180 days.@@@@1@20@@oe@2-2-2013
21434019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
21434020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 11/16% to 8 9/16% one month; 8 11/16% to 8 9/16% two months; 8 11/16% to 8 9/16% three months; 8 5/8% to 8 1/2% four months; 8 9/16% to 8 7/16% five months; 8 1/2% to 8 3/8% six months.@@@@1@45@@oe@2-2-2013
21434021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 3/4% one month; 8 11/16% three months; 8 9/16% six months; 8 1/2% one year.@@@@1@21@@oe@2-2-2013
21434022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
21434023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 8.50%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
21434024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
21434025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 16, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.37% 13 weeks; 7.42% 26 weeks.@@@@1@35@@oe@2-2-2013
21434026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac): Posted yields on 30-year mortgage commitments for delivery within 30 days. 9.84%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@31@@oe@2-2-2013
21434027@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21434028@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae): Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par) 9.78%, standard conventional fixed-rate mortgages; 8.75%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@34@@oe@2-2-2013
21434029@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21434030@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.52%.@@@@1@6@@oe@2-2-2013
21434031@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
21435001@unknown@formal@none@1@S@In the hard-hit Marina neighborhood, life after the earthquake is often all too real, but sometimes surreal.@@@@1@17@@oe@2-2-2013
21435002@unknown@formal@none@1@S@Some scenes: -- Saturday morning, a resident was given 15 minutes to scurry into a sagging building and reclaim what she could of her life's possessions.@@@@1@26@@oe@2-2-2013
21435003@unknown@formal@none@1@S@Saturday night she dined in an emergency shelter on salmon steaks prepared by chefs from one of the city's four-star restaurants.@@@@1@21@@oe@2-2-2013
21435004@unknown@formal@none@1@S@-- Mayor Art Agnos stands in the glare of television lights trying to explain for the 20th time why the city is severely restricting access to badly damaged structures.@@@@1@29@@oe@2-2-2013
21435005@unknown@formal@none@1@S@A couple in fashionable spandex warm-up suits jogs by, headphones jauntily in place, weaving their way along a street of fractured and fallen houses.@@@@1@24@@oe@2-2-2013
21435006@unknown@formal@none@1@S@At a nearby corner, they swerve perilously close to a listing apartment house, oblivious to any danger.@@@@1@17@@oe@2-2-2013
21435007@unknown@formal@none@1@S@A policeman shakes his head in amazement as he steers them away.@@@@1@12@@oe@2-2-2013
21435008@unknown@formal@none@1@S@-- A young woman who has been out of town shows up at the Marina Middle School to learn that her apartment is on the condemned list.@@@@1@27@@oe@2-2-2013
21435009@unknown@formal@none@1@S@She is told she can't enter unless she is accompanied by an inspector.@@@@1@13@@oe@2-2-2013
21435010@unknown@formal@none@1@S@She bursts into tears and walks away.@@@@1@7@@oe@2-2-2013
21435011@unknown@formal@none@1@S@Nearby, five temporary residents of the school shelter sit on stools, having their necks and backs kneaded by volunteer masseuses.@@@@1@20@@oe@2-2-2013
21435012@unknown@formal@none@1@S@The Marina rescue center offered a very San Franciscan response to the disaster.@@@@1@13@@oe@2-2-2013
21435013@unknown@formal@none@1@S@In addition to free massages, there was free counseling, phone calls and a free shuttle bus to a health club, which offered up its showers, saunas and hot tubs.@@@@1@29@@oe@2-2-2013
21435014@unknown@formal@none@1@S@The cafeteria offered donated croissants and brie for breakfast, and for dinner, pasta salad and chocolate mousse torts along with the salmon.@@@@1@22@@oe@2-2-2013
21435015@unknown@formal@none@1@S@"This has been a 15-pound earthquake for me," said resident Joan O'Shea, who works in an acupuncturist's office.@@@@1@18@@oe@2-2-2013
21435016@unknown@formal@none@1@S@She and some friends are considering offering earthquake victims free yoga classes and "aroma therapy" -- massages with scented oils.@@@@1@20@@oe@2-2-2013
21435017@unknown@formal@none@1@S@She finds the response of Marina residents -- primarily yuppies and elderly people -- to the devastation of their homes "incredible.@@@@1@21@@oe@2-2-2013
21435018@unknown@formal@none@1@S@People have been very respectful of each other.@@@@1@8@@oe@2-2-2013
21435019@unknown@formal@none@1@S@I don't know if this would have happened somewhere else."@@@@1@10@@oe@2-2-2013
21435020@unknown@formal@none@1@S@Out on the streets, some residents of badly damaged buildings were allowed a 15-minute scavenger hunt through their possessions.@@@@1@19@@oe@2-2-2013
21435021@unknown@formal@none@1@S@"It's so weird to have to decide what's really important to you," said Barbara May.@@@@1@15@@oe@2-2-2013
21435022@unknown@formal@none@1@S@She went first for personal mementos.@@@@1@6@@oe@2-2-2013
21435023@unknown@formal@none@1@S@In post-earthquake parlance, her building is a "red."@@@@1@8@@oe@2-2-2013
21435024@unknown@formal@none@1@S@After being inspected, buildings with substantial damage were color-coded.@@@@1@9@@oe@2-2-2013
21435025@unknown@formal@none@1@S@Green allowed residents to re-enter; yellow allowed limited access; red allowed residents one last entry to gather everything they could within 15 minutes.@@@@1@23@@oe@2-2-2013
21435026@unknown@formal@none@1@S@Reds and yellows went about their business with a kind of measured grimness.@@@@1@13@@oe@2-2-2013
21435027@unknown@formal@none@1@S@Some frantically dumped belongings into pillowcases, others threw goods out windows.@@@@1@11@@oe@2-2-2013
21435028@unknown@formal@none@1@S@It didn't help that on Saturday, after three days of sunshine, it rained.@@@@1@13@@oe@2-2-2013
21435029@unknown@formal@none@1@S@"The guys are going for their skis, their stereos, their personal computers," said Frank Fitzgerald, who helped others empty their apartments.@@@@1@21@@oe@2-2-2013
21435030@unknown@formal@none@1@S@"The women wanted photo albums, a certain brooch, kind of sentimental things."@@@@1@12@@oe@2-2-2013
21435031@unknown@formal@none@1@S@He showed an unbroken, still-ticking pocket watch that he retrieved for one woman.@@@@1@13@@oe@2-2-2013
21435032@unknown@formal@none@1@S@It belonged to her grandfather.@@@@1@5@@oe@2-2-2013
21435033@unknown@formal@none@1@S@Some residents defied orders and returned to "red" buildings to retrieve goods.@@@@1@12@@oe@2-2-2013
21435034@unknown@formal@none@1@S@One building was upgraded to red status while people were taking things out, and a resident who wasn't allowed to go back inside called up the stairs to his girlfriend, telling her to keep sending things down to the lobby.@@@@1@40@@oe@2-2-2013
21435035@unknown@formal@none@1@S@A policewoman had to be called in to make her leave; the policewoman helped carry out one last load.@@@@1@19@@oe@2-2-2013
21435036@unknown@formal@none@1@S@Enforcement of restricted-entry rules was sporadic, residents said.@@@@1@8@@oe@2-2-2013
21435037@unknown@formal@none@1@S@One man trying to remove his car was told by officials to get out of his garage.@@@@1@17@@oe@2-2-2013
21435038@unknown@formal@none@1@S@When he sneaked back later to try again, a different policeman offered to help him get the car out.@@@@1@19@@oe@2-2-2013
21435039@unknown@formal@none@1@S@The Marina also has become the focal point of city efforts to reunite residents with any pets that may have fled or become lost during the earthquake.@@@@1@27@@oe@2-2-2013
21435040@unknown@formal@none@1@S@On lampposts along Fillmore Street, a major Marina artery, posters were offering a $100 reward for a cat lost during the quake.@@@@1@22@@oe@2-2-2013
21435041@unknown@formal@none@1@S@The San Francisco Society for the Prevention of Cruelty to Animals also has been providing medical care, food, water and foster homes for quake-displaced animals.@@@@1@25@@oe@2-2-2013
21435042@unknown@formal@none@1@S@The SPCA says it has received more than 100 requests for foster homes on behalf of dogs and cats, though some people have sought temporary homes for birds and fish.@@@@1@30@@oe@2-2-2013
21435043@unknown@formal@none@1@S@For example, one parakeet owner returning home found that her apartment, like many others in the Marina, didn't have heat.@@@@1@20@@oe@2-2-2013
21435044@unknown@formal@none@1@S@"She can stay there with no heat, but for a parakeet, that can be deadly," says Daralee Konowitch, animalcare services manager for the SPCA.@@@@1@24@@oe@2-2-2013
21435045@unknown@formal@none@1@S@A warm foster home has been found.@@@@1@7@@oe@2-2-2013
21436001@unknown@formal@none@1@S@The neighborhood around Alexander Haagen Co.'s Vermont-Slauson Shopping Center in the Watts section of Los Angeles resembles the crime-ridden, deteriorating sections of many inner cities and certainly isn't the sort of area one would choose to visit.@@@@1@37@@oe@2-2-2013
21436002@unknown@formal@none@1@S@But turn into the shopping center's parking lot, and one could be in the safe, busy mall of a prosperous suburb.@@@@1@21@@oe@2-2-2013
21436003@unknown@formal@none@1@S@Only it is safer, and busier.@@@@1@6@@oe@2-2-2013
21436004@unknown@formal@none@1@S@Over the past year there have been only one burglary, three thefts of or from autos, no purse-snatchings, and one attempted robbery in the mall, which opened in late 1981.@@@@1@30@@oe@2-2-2013
21436005@unknown@formal@none@1@S@A shopping center of similar size in an affluent Los Angeles suburb would, per year, be expected to have eight burglaries, 70 thefts of or from autos, and four robberies.@@@@1@30@@oe@2-2-2013
21436006@unknown@formal@none@1@S@The Watts mall has annual sales of more than $350 per leasable square foot; the figure for a comparable suburban shopping center would be $200.@@@@1@25@@oe@2-2-2013
21436007@unknown@formal@none@1@S@Three other Haagen shopping centers in the Watts area are doing almost as well.@@@@1@14@@oe@2-2-2013
21436008@unknown@formal@none@1@S@A successful low-crime mall in a high-crime area violates the more typical inner-city pattern, in which commercial areas are taken over by unruly youth, gangs, and the criminal element, with an erosion of the customer base, development capital, and insurability.@@@@1@40@@oe@2-2-2013
21436009@unknown@formal@none@1@S@Major regional and national chain stores are replaced by mom-and-pop operations offering poorer-quality merchandise at higher prices.@@@@1@17@@oe@2-2-2013
21436010@unknown@formal@none@1@S@Along with the exodus of shopping opportunities is an exodus of the jobs that the major chains used to provide to community residents.@@@@1@23@@oe@2-2-2013
21436011@unknown@formal@none@1@S@Thus there is even more to the Vermont-Slauson Center than a good place to shop.@@@@1@15@@oe@2-2-2013
21436012@unknown@formal@none@1@S@This defensible commercial zone becomes, for the residents, a secure oasis in a barren urban landscape, evidence that community decay is not inevitable and that the gangs are not invincible.@@@@1@30@@oe@2-2-2013
21436013@unknown@formal@none@1@S@The center improves the community image to outsiders as well, and may help to arrest, or even reverse, the exodus of capital and investment.@@@@1@24@@oe@2-2-2013
21436014@unknown@formal@none@1@S@An additional benefit is the creation of jobs.@@@@1@8@@oe@2-2-2013
21436015@unknown@formal@none@1@S@This starts in the construction phase through the use of minority contractors and local workers.@@@@1@15@@oe@2-2-2013
21436016@unknown@formal@none@1@S@It continues through the life of the center; the Vermont-Slauson Center has created 500 permanent private-sector jobs at a one-time cost in public funds of only $2,500 per job.@@@@1@29@@oe@2-2-2013
21436017@unknown@formal@none@1@S@As many of these jobs are filled by local residents, who move from the welfare rolls to the tax rolls, the $2,500-per-job public investment should repay itself in a few years.@@@@1@31@@oe@2-2-2013
21436018@unknown@formal@none@1@S@And that is before consideration of increased state and local revenues from taxes and fees on sales, real estate, licenses and the like.@@@@1@23@@oe@2-2-2013
21436019@unknown@formal@none@1@S@Profits are also plowed back into the community; the non-profit Vermont-Slauson Economic Development Corp. receives 60% of the profits from the Vermont-Slauson Center and uses the money to provide moderate and low-cost housing in the community -- now running into the hundreds of units -- as well as commercial and industrial development projects.@@@@1@53@@oe@2-2-2013
21436020@unknown@formal@none@1@S@Bradford Crowe, director of the mayor's City Economic Development Office, says: "There is no question that Vermont-Slauson had a halo effect on the surrounding neighborhood.@@@@1@25@@oe@2-2-2013
21436021@unknown@formal@none@1@S@What had been a deteriorated area with nothing but wig shops and shoe shops is now experiencing a major upgrading in the housing and commercial stock, thanks to a continuously replenished source of revitalization capital that Vermont-Slauson yields."@@@@1@38@@oe@2-2-2013
21436022@unknown@formal@none@1@S@Another benefit is that substantial percentages of the proprietors in these centers are minority businessmen and women.@@@@1@17@@oe@2-2-2013
21436023@unknown@formal@none@1@S@In the Grand Boulevard Plaza developed by Matanky Realty Group in Chicago's Third Ward, opposite the Robert Taylor Homes, 29% of the stores to date have been leased to blacks and 14% to members of other minority groups.@@@@1@38@@oe@2-2-2013
21436024@unknown@formal@none@1@S@Children from the community will have worthier role models than the drug kingpins.@@@@1@13@@oe@2-2-2013
21436025@unknown@formal@none@1@S@So what's the catch?@@@@1@4@@oe@2-2-2013
21436026@unknown@formal@none@1@S@Primarily that putting one of these inner-city deals together takes time, patience, breadth of vision and negotiating skills that not all developers possess.@@@@1@23@@oe@2-2-2013
21436027@unknown@formal@none@1@S@Security costs are also quite high.@@@@1@6@@oe@2-2-2013
21436028@unknown@formal@none@1@S@One of these centers can involve years of negotiating with numerous public agencies, local political leaders, and citizen groups, and with prospective tenants and sources of financing.@@@@1@27@@oe@2-2-2013
21436029@unknown@formal@none@1@S@Suburban deals are not without their delays and complications -- inner-city deals just have more of them.@@@@1@17@@oe@2-2-2013
21436030@unknown@formal@none@1@S@Security at a typical Haagen inner-city center is impressive, but unobtrusive.@@@@1@11@@oe@2-2-2013
21436031@unknown@formal@none@1@S@The entire site is enclosed by a 6-to-8-foot-high ornamental iron fence with a small number of remote-controlled gates.@@@@1@18@@oe@2-2-2013
21436032@unknown@formal@none@1@S@Shrubs and flowers give it a pleasing and non-fortress-like appearance.@@@@1@10@@oe@2-2-2013
21436033@unknown@formal@none@1@S@Infrared motion detectors and closed-circuit TV cameras monitor the entire center; lighting levels are three to five times the industry standard.@@@@1@21@@oe@2-2-2013
21436034@unknown@formal@none@1@S@The security command post, camouflaged as second-story retail space, has its own "crow's nest" above the roofs of the other buildings, with a panoramic view of the entire center.@@@@1@29@@oe@2-2-2013
21436035@unknown@formal@none@1@S@Local law enforcement is present in a sub-station occupying space donated by the center.@@@@1@14@@oe@2-2-2013
21436036@unknown@formal@none@1@S@These features are also used in Matanky Realty Group's Grand Boulevard Plaza.@@@@1@12@@oe@2-2-2013
21436037@unknown@formal@none@1@S@Haagen has its own large security force of well-trained and well-paid personnel on round-the-clock duty at each center.@@@@1@18@@oe@2-2-2013
21436038@unknown@formal@none@1@S@Security is 60% to 70% of the common area charges of these centers, vs. an industry average of about 15%.@@@@1@20@@oe@2-2-2013
21436039@unknown@formal@none@1@S@These security costs are kept off-budget because the centers' site acquisition, construction, and financing costs were reduced by such programs as Urban Development Action Grants, Economic Development Administration Grants, Community Development Block Grants, tax-free Industrial Development Bonds, Enterprise Zone tax write-offs, city infrastructure grants, and tax increment financing.@@@@1@48@@oe@2-2-2013
21436040@unknown@formal@none@1@S@Many of these programs no longer exist, or have been severely cut back.@@@@1@13@@oe@2-2-2013
21436041@unknown@formal@none@1@S@However, since these centers appear to pay for themselves, there is nothing to prevent state and local governments from enacting legislation with similar provisions.@@@@1@24@@oe@2-2-2013
21436042@unknown@formal@none@1@S@Many states already have Enterprise Zones and legislation that combines tax incentives, loans, and grants to encourage investment in depressed areas with requirements for the hiring of the unemployed and minorities.@@@@1@31@@oe@2-2-2013
21436043@unknown@formal@none@1@S@These programs could be expanded to focus on funds for project planning, identifying sources of funds, and for acquiring a site and preparing it.@@@@1@24@@oe@2-2-2013
21436044@unknown@formal@none@1@S@Combatting crime and the fear of it in inner-city commercial areas should give Enterprise Zones more success than most have enjoyed to date.@@@@1@23@@oe@2-2-2013
21436045@unknown@formal@none@1@S@With many suburban areas basically overbuilt with shopping centers, inner-city areas may represent a major new untapped market for investment.@@@@1@20@@oe@2-2-2013
21436046@unknown@formal@none@1@S@New approaches to mall design and operation make it possible to tap these markets.@@@@1@14@@oe@2-2-2013
21436047@unknown@formal@none@1@S@If the risks and rewards are reasonable, developers will respond.@@@@1@10@@oe@2-2-2013
21436048@unknown@formal@none@1@S@Government officials who wonder how important it is for them to encourage development in high-risk areas should visit Vermont-Slauson and Grand Boulevard Plaza and decide for themselves.@@@@1@27@@oe@2-2-2013
21436049@unknown@formal@none@1@S@The answer will be obvious.@@@@1@5@@oe@2-2-2013
21436050@unknown@formal@none@1@S@Mr. Titus is a researcher at the Justice Department's National Institute of Justice.@@@@1@13@@oe@2-2-2013
21437001@unknown@formal@none@1@S@ATHLONE INDUSTRIES Inc. said that on Dec. 21 it will redeem $10 million face amount of its $59.3 million of 15.625% subordinated notes outstanding, due June 1, 1991.@@@@1@28@@oe@2-2-2013
21437002@unknown@formal@none@1@S@For each $1,000 of notes, the maker of specialty metals, industrial fasteners and consumer products will pay $1,026.46 plus $8.68 of interest accrued from Dec. 1.@@@@1@26@@oe@2-2-2013
21437003@unknown@formal@none@1@S@The company will notify holders of the notes to be redeemed.@@@@1@11@@oe@2-2-2013
21437004@unknown@formal@none@1@S@Manufacturers Hanover Trust Co. is redemption agent.@@@@1@7@@oe@2-2-2013
21438001@unknown@formal@none@1@S@One company recently was listed on the New York Stock Exchange, and another will join the Big Board from the over-the-counter market this week.@@@@1@24@@oe@2-2-2013
21438002@unknown@formal@none@1@S@Putnam Investment Grade Municipal Trust, Boston, was listed with the symbol PGM.@@@@1@12@@oe@2-2-2013
21438003@unknown@formal@none@1@S@The new closed-end management investment company trades shares of beneficial interest.@@@@1@11@@oe@2-2-2013
21438004@unknown@formal@none@1@S@It invests primarily in tax-exempt municipal securities.@@@@1@7@@oe@2-2-2013
21438005@unknown@formal@none@1@S@Hibernia Corp., a New Orleans bank holding company, will join the Big Board Thursday under HIB.@@@@1@16@@oe@2-2-2013
21438006@unknown@formal@none@1@S@Three companies began trading over the counter.@@@@1@7@@oe@2-2-2013
21438007@unknown@formal@none@1@S@Exabyte Corp., a Boulder, Colo., maker of high-capacity tape cartridge systems used to back up computer disk drives, started OTC trading with the symbol EXBT.@@@@1@25@@oe@2-2-2013
21438008@unknown@formal@none@1@S@Rally's Inc., a Louisville, Ky., restaurant franchisor, started trading under RLLY.@@@@1@11@@oe@2-2-2013
21438009@unknown@formal@none@1@S@Sierra Tucson Cos., Tucson, Ariz., started trading under STSN.@@@@1@9@@oe@2-2-2013
21438010@unknown@formal@none@1@S@It operates various types of addiction-treatment facilities.@@@@1@7@@oe@2-2-2013
21438011@unknown@formal@none@1@S@Separately, on the Pacific Stock Exchange, put and call options on the common stock of Aldus Corp. started trading.@@@@1@19@@oe@2-2-2013
21438012@unknown@formal@none@1@S@Aldus, Seattle, makes computer software products.@@@@1@6@@oe@2-2-2013
21438013@unknown@formal@none@1@S@Options give a holder the right, but not the obligation, to buy or sell a security at a set price within a set period of time.@@@@1@26@@oe@2-2-2013
21439001@unknown@formal@none@1@S@Dow Chemical Co. said its Destec Energy Inc. unit has agreed to buy PSE Inc., a Houston energy company, in a deal valued at about $115 million.@@@@1@27@@oe@2-2-2013
21439002@unknown@formal@none@1@S@Dow, of Midland, Mich., said its unit will begin by Thursday a tender offer of $12.25 a share for all PSE common shares outstanding.@@@@1@24@@oe@2-2-2013
21439003@unknown@formal@none@1@S@Among other conditions, the offer depends on the Dow unit acquiring at least 66 2/3% of the PSE shares outstanding, the companies said in a joint statement Friday.@@@@1@28@@oe@2-2-2013
21439004@unknown@formal@none@1@S@PSE has about 9.2 million shares outstanding.@@@@1@7@@oe@2-2-2013
21439005@unknown@formal@none@1@S@The company said the approximately $115 million acquisition price includes its total $33 million of long-term debt outstanding.@@@@1@18@@oe@2-2-2013
21439006@unknown@formal@none@1@S@Dow said it already has agreements with Albert J. Smith Jr., chairman and chief executive officer of PSE, and certain other officers of the company under which Dow may buy about 40% of the PSE common shares outstanding.@@@@1@38@@oe@2-2-2013
21439007@unknown@formal@none@1@S@PSE is a designer and operator of energy-cogeneration facilities and had 1988 sales of $234 million.@@@@1@16@@oe@2-2-2013
21439008@unknown@formal@none@1@S@The company is owner and operator, or an equity partner, in six cogeneration facilities -- two in Texas and four in California.@@@@1@22@@oe@2-2-2013
21439009@unknown@formal@none@1@S@The company said recently it expects third-quarter earnings will be in range from $1.3 million to $1.7 million, or 14 cents to 18 cents a share, compared with $326,000, or four cents a share, a year ago.@@@@1@37@@oe@2-2-2013
21440001@unknown@formal@none@1@S@If growth regains its glamour among investors, a sluggish segment of the Nasdaq over-the-counter market could show some flash.@@@@1@19@@oe@2-2-2013
21440002@unknown@formal@none@1@S@Some stock pickers already are targeting the OTC market, where, they say, await plenty of small- and medium-sized growth stocks.@@@@1@20@@oe@2-2-2013
21440003@unknown@formal@none@1@S@Best of all, they add, these growth issues, unlike their big blue-chip cousins on the New York Stock Exchange, are languishing at depressed prices.@@@@1@24@@oe@2-2-2013
21440004@unknown@formal@none@1@S@Growth stocks will return to favor, some analysts and money managers think, because of the jitters caused by the market's steep slide on Oct. 13, and because of the current swell of disappointing earnings announcements.@@@@1@35@@oe@2-2-2013
21440005@unknown@formal@none@1@S@Against such a backdrop, companies with proven track records of earnings gains of 20% or so annually have extra appeal.@@@@1@20@@oe@2-2-2013
21440006@unknown@formal@none@1@S@"The market will have to look for a new theme now and that theme will be a return to growth," declares Mary Farrell, a PaineWebber analyst.@@@@1@26@@oe@2-2-2013
21440007@unknown@formal@none@1@S@Among her OTC picks are Oshkosh B'Gosh and A&W Brands.@@@@1@10@@oe@2-2-2013
21440008@unknown@formal@none@1@S@Like many OTC growth issues, they have market values -- as measured by stock price times shares outstanding -- of roughly $100 million to $500 million.@@@@1@26@@oe@2-2-2013
21440009@unknown@formal@none@1@S@Some like to specialize in growth companies whose shares haven't traded publicly very long.@@@@1@14@@oe@2-2-2013
21440010@unknown@formal@none@1@S@These are sometimes dubbed "emerging" growth companies, though they also have expanding-profit track records.@@@@1@14@@oe@2-2-2013
21440011@unknown@formal@none@1@S@While many growth stocks are small, not all small stocks have earnings-growth momentum.@@@@1@13@@oe@2-2-2013
21440012@unknown@formal@none@1@S@That's an important distinction because some analysts and brokers, who perennially predict that small stocks are about to outperform bigger issues, may use any spurt in growth issues to help them sell all small stocks.@@@@1@35@@oe@2-2-2013
21440013@unknown@formal@none@1@S@"You can find some good, quality companies over the counter," but investors should be selective, says John Palicka, chief portfolio manager at Midco Investors, a Newark, N.J., money management company with about $900 million invested in growth stocks of varying sizes.@@@@1@41@@oe@2-2-2013
21440014@unknown@formal@none@1@S@Mr. Palicka's picks from the OTC market include Legent, Mail Boxes Etc., and Payco American.@@@@1@15@@oe@2-2-2013
21440015@unknown@formal@none@1@S@The main argument for growth stocks is their usually superior performance in a slowing economy.@@@@1@15@@oe@2-2-2013
21440016@unknown@formal@none@1@S@"If the market refocuses on earnings, we should get better valuations of growth stocks," says L. Keith Mullins, a growth-stock analyst at Morgan Stanley.@@@@1@24@@oe@2-2-2013
21440017@unknown@formal@none@1@S@Eventually, he believes, investors will be willing to pay higher prices for companies with proven track records of earnings growth.@@@@1@20@@oe@2-2-2013
21440018@unknown@formal@none@1@S@In anticipation of that shift, he and other analysts are encouraging their clients to buy such issues now.@@@@1@18@@oe@2-2-2013
21440019@unknown@formal@none@1@S@Understandably, smaller growth stocks haven't been in favor recently.@@@@1@9@@oe@2-2-2013
21440020@unknown@formal@none@1@S@The average issue on Standard & Poor's 500-stock Index gained 35% last year, Ms. Farrell of PaineWebber says.@@@@1@18@@oe@2-2-2013
21440021@unknown@formal@none@1@S@Smaller-stock earnings, by comparison, rose between 15% and 20%.@@@@1@9@@oe@2-2-2013
21440022@unknown@formal@none@1@S@In addition, earnings growth took a back seat to cash flow, restructuring and takeover potential, and breakup value as the preferred stock-picking standards for much of the year.@@@@1@28@@oe@2-2-2013
21440023@unknown@formal@none@1@S@Also, the smaller growth stocks aren't widely traded, and so are harder to buy and sell quickly than blue chips.@@@@1@20@@oe@2-2-2013
21440024@unknown@formal@none@1@S@As a result, Morgan Stanley's Index of 40 Emerging Growth Stocks -- most of which are in the OTC market -- is up only 13% for the year, while the Dow Jones Industrial Average has leaped 24% and the S&P 500 has grown 25%.@@@@1@44@@oe@2-2-2013
21440025@unknown@formal@none@1@S@The Nasdaq Composite has gained 23% this year, but that's largely due to the 100 largest nonfinancial stocks, which have soared 30%.@@@@1@22@@oe@2-2-2013
21440026@unknown@formal@none@1@S@Some investors are skeptical of growth stocks because investing in them means ignoring that maxim found in the fine print of some investment advertisements -- that past performance isn't indicative of future results.@@@@1@33@@oe@2-2-2013
21440027@unknown@formal@none@1@S@"People are naturally suspicious of them," says Mr. Mullins of Morgan Stanley.@@@@1@12@@oe@2-2-2013
21440028@unknown@formal@none@1@S@Among his favorites in his firm's index are Legent, Silicon Graphics and Novell.@@@@1@13@@oe@2-2-2013
21440029@unknown@formal@none@1@S@However, more money managers are reassured that profit is regaining importance.@@@@1@11@@oe@2-2-2013
21440030@unknown@formal@none@1@S@Mark Schoeppner, portfolio manager at Pittsburgh-based Quaker Capital Management, says that in reaction to nervousness about debt-laden buy-out transactions, analysts and investors now appear to be "valuing stock based on future earnings as opposed to the amount of debt the company can support."@@@@1@43@@oe@2-2-2013
21440031@unknown@formal@none@1@S@Barney Hallingby, managing director of research at Hambrecht & Quist, also believes earnings growth is beginning to play a greater part in investors' buying decisions.@@@@1@25@@oe@2-2-2013
21440032@unknown@formal@none@1@S@On Friday, Hambrecht & Quist added St. Jude Medical to the list of 20 stocks it strongly recommends.@@@@1@18@@oe@2-2-2013
21440033@unknown@formal@none@1@S@The opinion is largely based on the company's earnings momentum, Mr. Hallingby says.@@@@1@13@@oe@2-2-2013
21440034@unknown@formal@none@1@S@St. Jude's market value on Nasdaq exceeds $1 billion, so it isn't a small stock.@@@@1@15@@oe@2-2-2013
21440035@unknown@formal@none@1@S@The medical devices maker's earnings rose nearly 35% in 1987 from 1986, and 75% in 1988.@@@@1@16@@oe@2-2-2013
21440036@unknown@formal@none@1@S@Kurt Kruger, who follows the stock for Hambrecht & Quist, anticipates that the company's net income will grow 51% to $2.15 a share this year.@@@@1@25@@oe@2-2-2013
21440037@unknown@formal@none@1@S@St. Jude finished up 1/4 to 44 1/2 on Friday.@@@@1@10@@oe@2-2-2013
21440038@unknown@formal@none@1@S@Friday's Market Activity@@@@1@3@@oe@2-2-2013
21440039@unknown@formal@none@1@S@The Nasdaq Composite Index eased 0.13 to 470.67.@@@@1@8@@oe@2-2-2013
21440040@unknown@formal@none@1@S@The composite finished up 0.7% from last Friday's close.@@@@1@9@@oe@2-2-2013
21440041@unknown@formal@none@1@S@It was a busy week for OTC stocks.@@@@1@8@@oe@2-2-2013
21440042@unknown@formal@none@1@S@Friday's volume totaled 158.2 million shares; the daily average for the week was a bustling 176.7 million.@@@@1@17@@oe@2-2-2013
21440043@unknown@formal@none@1@S@Valley National lost 1 3/8 to 17 1/8 on volume of 1.9 million shares.@@@@1@14@@oe@2-2-2013
21440044@unknown@formal@none@1@S@The company reported a big third-quarter loss on Thursday.@@@@1@9@@oe@2-2-2013
21440045@unknown@formal@none@1@S@Merchants Bank of New York lost 1 to 106 after reporting that its third-quarter net income fell to $1.62 a share from last year's $1.67 a share.@@@@1@27@@oe@2-2-2013
21440046@unknown@formal@none@1@S@Eliot Savings Bank lost 7/8 to 1 5/8 after reporting that it had a $4.8 million loss in the latest third quarter mostly because of loan-loss provisions.@@@@1@27@@oe@2-2-2013
21440047@unknown@formal@none@1@S@In the 1988 quarter, the bank earned $1.1 million.@@@@1@9@@oe@2-2-2013
21440048@unknown@formal@none@1@S@One bank stock was a winner.@@@@1@6@@oe@2-2-2013
21440049@unknown@formal@none@1@S@BanPonce jumped 4 1/2 to 47 3/4 after agreeing to be acquired by Banco Popular de Puerto Rico for $56.25 a share.@@@@1@22@@oe@2-2-2013
21440050@unknown@formal@none@1@S@Banco Popular, meanwhile, dropped 1 1/4 to 21 1/2.@@@@1@9@@oe@2-2-2013
21440051@unknown@formal@none@1@S@Sierra Tucson, an initial public offering, made the most active list.@@@@1@11@@oe@2-2-2013
21440052@unknown@formal@none@1@S@The company's shares began trading at 12 1/2, up from its initial offering price of 12, and closed at 13.@@@@1@20@@oe@2-2-2013
21440053@unknown@formal@none@1@S@Sierra Tucson operates an addiction treatment center.@@@@1@7@@oe@2-2-2013
21440054@unknown@formal@none@1@S@Among declining issues, a weak earnings outlook drove Groundwater Technology down 6 1/4 to 24.@@@@1@15@@oe@2-2-2013
21440055@unknown@formal@none@1@S@The company said results for its second quarter ended Oct. 28 could drop as much as 20% below the 30 cents a share reported in the year-earlier quarter.@@@@1@28@@oe@2-2-2013
21440056@unknown@formal@none@1@S@Medstone International plummeted 3 1/4 to 7 1/4.@@@@1@8@@oe@2-2-2013
21440057@unknown@formal@none@1@S@A Food and Drug Administration advisory panel has asked that Medstone perform more studies on its device to treat gallstones.@@@@1@20@@oe@2-2-2013
21440058@unknown@formal@none@1@S@Qintex Entertainment dropped 2 5/8 to 1 1/2 after seeking protection from creditor lawsuits under Chapter 11 of the federal Bankruptcy Code for itself and its two operating subsidiaries, Hal Roach Studios and Qintex Productions.@@@@1@35@@oe@2-2-2013
21440059@unknown@formal@none@1@S@Raymond Corp. lost 1 to 10 after it said late Thursday that it will take a $4.4 million charge in its third quarter for reserves to cover potential charges in connection with the closing and sale of a manufacturing plant.@@@@1@40@@oe@2-2-2013
21440060@unknown@formal@none@1@S@As a result, the company has suspended its quarterly dividend.@@@@1@10@@oe@2-2-2013
21440061@unknown@formal@none@1@S@McCaw Cellular Communications and its target, LIN Broadcasting, were active.@@@@1@10@@oe@2-2-2013
21440062@unknown@formal@none@1@S@LIN added 5/8 to 110 5/8 and McCaw lost 1/4 to 41.@@@@1@12@@oe@2-2-2013
21440063@unknown@formal@none@1@S@McCaw said it has secured commitments from three banks to help finance its $125-a-share bid for 22 million of Lin's shares.@@@@1@21@@oe@2-2-2013
21440064@unknown@formal@none@1@S@McCaw has called for a "fair auction" of LIN, which earlier entered a stock-swap merger pact with BellSouth.@@@@1@18@@oe@2-2-2013
21440065@unknown@formal@none@1@S@Following the release of the company's fourth-quarter earnings, Apple Computer dropped 3/4 to 48 on volume of more than 2.3 million shares.@@@@1@22@@oe@2-2-2013
21440066@unknown@formal@none@1@S@Apple earned $161.1 million, or $1.24 a share, in the quarter, including $48 million from the sale of its Adobe Systems stock.@@@@1@22@@oe@2-2-2013
21441001@unknown@formal@none@1@S@The following were among Friday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
21441002@unknown@formal@none@1@S@Chicago & North Western Acquisition Corp. -- $475 million of senior subordinated resettable debentures, due Oct. 15, 2001, priced at par to yield 14.75%.@@@@1@24@@oe@2-2-2013
21441003@unknown@formal@none@1@S@The coupon will be reset in one year at a rate that will give the issue a market value of 101.@@@@1@21@@oe@2-2-2013
21441004@unknown@formal@none@1@S@However, the maximum coupon rate on the issue when it is reset can only be 15.5%.@@@@1@16@@oe@2-2-2013
21441005@unknown@formal@none@1@S@Debenture holders will also receive the equivalent of 10% of the common stock of CNW Holdings.@@@@1@16@@oe@2-2-2013
21441006@unknown@formal@none@1@S@The equity kicker is not attached to the offering, but underwriters said it will be offered after a filing for 68,548 common shares of CNW Holdings is declared effective by the Securities & Exchange Commission.@@@@1@35@@oe@2-2-2013
21441007@unknown@formal@none@1@S@The issue is noncallable for five years and has a sinking fund starting in 2000 to retire 50% of the issue before maturity.@@@@1@23@@oe@2-2-2013
21441008@unknown@formal@none@1@S@Rated single-B-2 by Moody's Investors Service Inc. and single-B-minus by Standard & Poor's Corp., the issue will be sold through underwriters led by Donaldson Lufkin & Jenrette Securities Corp.@@@@1@29@@oe@2-2-2013
21441009@unknown@formal@none@1@S@Tokuyama Soda Co. (Japan) -- $200 million of Eurobonds due Nov. 9, 1993, with equity-purchase warrants, indicating a 4% coupon at par, via Nomura International Ltd.@@@@1@26@@oe@2-2-2013
21441010@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Nov. 28, 1989, through Oct. 28, 1993, to buy company shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Oct. 27.@@@@1@37@@oe@2-2-2013
21442001@unknown@formal@none@1@S@For bankers and regulators, Arizona is looking more like Texas every day.@@@@1@12@@oe@2-2-2013
21442002@unknown@formal@none@1@S@On Friday, Los Angeles-based First Interstate Bancorp said it expects a net loss of $16 million for the third quarter of 1989 because of hemorrhaging at its First Interstate Bank of Arizona unit.@@@@1@33@@oe@2-2-2013
21442003@unknown@formal@none@1@S@First Interstate said the unit, bludgeoned by Arizona's worsening real-estate woes, will have a $174 million loss for the quarter.@@@@1@20@@oe@2-2-2013
21442004@unknown@formal@none@1@S@First Interstate took a huge $350 million provision for loan losses at the Arizona bank.@@@@1@15@@oe@2-2-2013
21442005@unknown@formal@none@1@S@It charged off an estimated $200 million of Arizona loans, leaving the unit with a reserve for future losses of $255 million, about 61% of its $416 million of troubled loans and repossessed real estate.@@@@1@35@@oe@2-2-2013
21442006@unknown@formal@none@1@S@First Interstate made the move under pressure from regulators.@@@@1@9@@oe@2-2-2013
21442007@unknown@formal@none@1@S@The action capped a spurt of grim Arizona banking news for the third quarter, and emphatically signaled that Arizona is challenging Texas's long reign as banking's busiest graveyard.@@@@1@28@@oe@2-2-2013
21442008@unknown@formal@none@1@S@Earlier last week, Valley National Corp., the state's largest locally owned banking company, reported a $72.2 million loss and suspended its dividend.@@@@1@22@@oe@2-2-2013
21442009@unknown@formal@none@1@S@Pinnacle West Capital Corp., which has been wrangling with regulators for months over what to do about Pinnacle's moribund Merabank thrift unit, suspended its dividend and reported a 91% plunge in third-quarter net income.@@@@1@34@@oe@2-2-2013
21442010@unknown@formal@none@1@S@Security Pacific Corp. said third-quarter credit losses surged a third to $109 million, mainly because of sour Arizona real-estate loans.@@@@1@20@@oe@2-2-2013
21442011@unknown@formal@none@1@S@New York-based Chase Manhattan Corp. took an $85 million Arizona-related charge.@@@@1@11@@oe@2-2-2013
21442012@unknown@formal@none@1@S@Furthermore, the regulatory maneuvering behind First Interstate's loss suggests regulators have concluded that lenders' reserves are far too low to absorb their future Arizona losses and are forcing bankers to do something about it.@@@@1@34@@oe@2-2-2013
21442013@unknown@formal@none@1@S@Examiners from the Office of the Comptroller of the Currency had been combing through First Interstate's real-estate portfolio since last month; they first recommended that First Interstate take a provision that was less than the eventual $350 million third-quarter hit.@@@@1@40@@oe@2-2-2013
21442014@unknown@formal@none@1@S@When First Interstate balked, arguing that the figure was too high, regulators responded by raising their recommendation to $350 million.@@@@1@20@@oe@2-2-2013
21442015@unknown@formal@none@1@S@"At that point, {First Interstate} decided it was the better part of valor not to negotiate further," said one industry official close to the talks.@@@@1@25@@oe@2-2-2013
21442016@unknown@formal@none@1@S@Thomas P. Marrie, chief financial officer, wouldn't comment about the details of the negotiations.@@@@1@14@@oe@2-2-2013
21442017@unknown@formal@none@1@S@He said the provision "wasn't forced upon us, but the regulators made it very clear what they thought was an appropriate number."@@@@1@22@@oe@2-2-2013
21442018@unknown@formal@none@1@S@The tough regulatory stance portends large future losses, especially at the state's thrifts.@@@@1@13@@oe@2-2-2013
21442019@unknown@formal@none@1@S@At least six of Arizona's 12 savings and loan institutions have either been taken over by the government's conservatorship program or are essentially insolvent; they are sitting on enormous unrecognized losses.@@@@1@31@@oe@2-2-2013
21442020@unknown@formal@none@1@S@For example, Western Savings & Loan Association, which is now in conservatorship, had tangible capital-assets minus liabilities -- of a negative $357.4 million at June 30.@@@@1@26@@oe@2-2-2013
21442021@unknown@formal@none@1@S@It had a $258.9 million loss in the second quarter.@@@@1@10@@oe@2-2-2013
21442022@unknown@formal@none@1@S@Yet it still held $916.3 million of repossessed real estate, for which it maintains no reserves whatsoever.@@@@1@17@@oe@2-2-2013
21442023@unknown@formal@none@1@S@It also had $479.7 million of past-due loans; its level of reserves against those wasn't immediately available, though it is believed to be small.@@@@1@24@@oe@2-2-2013
21442024@unknown@formal@none@1@S@The rapid deterioration of the Arizona thrifts only adds to the ever-swelling cost of the government's massive thrift bailout, officially estimated at about $166 billion.@@@@1@25@@oe@2-2-2013
21442025@unknown@formal@none@1@S@Together, the six government-controlled or essentially insolvent Arizona thrifts have tangible capital of a negative $1.5 billion, foreclosed property of $1.8 billion and pastdue loans of $1.63 billion.@@@@1@28@@oe@2-2-2013
21442026@unknown@formal@none@1@S@They have no reserves against the real estate, and their reserves against the loans are miniscule compared with the levels of reserves banks are moving to set up.@@@@1@28@@oe@2-2-2013
21442027@unknown@formal@none@1@S@The thrifts had a combined loss of $487.8 million in the second quarter.@@@@1@13@@oe@2-2-2013
21442028@unknown@formal@none@1@S@Other lenders have been recovering only 50 cents to 60 cents on the dollar on foreclosed Arizona property, if they can sell it at all.@@@@1@25@@oe@2-2-2013
21442029@unknown@formal@none@1@S@All this havoc is the result of one of the worst busts in Arizona's boom-and-bust history, compounded by some of the usual suspects in 1980s banking debacles: greed, fraud and plain bad banking.@@@@1@33@@oe@2-2-2013
21442030@unknown@formal@none@1@S@In the late 1970s and early 1980s, lenders and developers poured money into office buildings, condominiums and massive tracts of raw desert land, confident that Arizona's population would grow at annual rates of 4% to 6% for years to come.@@@@1@40@@oe@2-2-2013
21442031@unknown@formal@none@1@S@Now, annual population growth is running at about 2% a year, some desert tracts bought three years ago for $90,000 an acre are being sold at $25,000 an acre and Phoenix has a seven-year supply of unoccupied office space.@@@@1@39@@oe@2-2-2013
21442032@unknown@formal@none@1@S@"It's horrible to say, but it's unfortunate that earthquake wasn't in Phoenix -- it might have knocked out some of our empty buildings," said C.W. Jackson, a prominent Arizona businessman with interests in real estate, banking and many other businesses.@@@@1@40@@oe@2-2-2013
21442033@unknown@formal@none@1@S@Many Arizona real-estate experts think the worst may be yet to come.@@@@1@12@@oe@2-2-2013
21442034@unknown@formal@none@1@S@Ralph Shattuck, publisher of Foreclosure Update newsletter, said foreclosures have climbed to about 1,482 a month just in Maricopa County, where Phoenix is located.@@@@1@24@@oe@2-2-2013
21442035@unknown@formal@none@1@S@That's up from about 687 a month in 1985, and it's accelerating: So far this month, foreclosures are averaging about 85 a day.@@@@1@23@@oe@2-2-2013
21442036@unknown@formal@none@1@S@"It's frightening," Mr. Shattuck said.@@@@1@5@@oe@2-2-2013
21442037@unknown@formal@none@1@S@Moreover, Mr. Shattuck and others said residential real estate, which had remained fairly strong through most of the downturn, is beginning to comprise more and more of the foreclosures.@@@@1@29@@oe@2-2-2013
21442038@unknown@formal@none@1@S@And the generally frail condition of Arizona's lenders means there is little capital available in the state to shore up the economy and slow down the slide.@@@@1@27@@oe@2-2-2013
21442039@unknown@formal@none@1@S@"It's reasonable to say there is not a solvent S&L in the state and the amount of viable bank capital is very low," said Mr. Jackson.@@@@1@26@@oe@2-2-2013
21442040@unknown@formal@none@1@S@"We're going to see another big wave of failures and defaults between now and year-end. . . .@@@@1@18@@oe@2-2-2013
21442041@unknown@formal@none@1@S@The only thing a lot of these lenders can get out of their mouth now is: `Pay me in 60 days.'"@@@@1@21@@oe@2-2-2013
21442042@unknown@formal@none@1@S@First Interstate had a $214.4 million loss in 1988's third quarter, mainly from writedowns and reserves connected with its Texas operations.@@@@1@21@@oe@2-2-2013
21442043@unknown@formal@none@1@S@For the six months ended June 30, it reported net income of $234.3 million, or $4.83 a share, including $46 million from tax credits and accounting changes.@@@@1@27@@oe@2-2-2013
21442044@unknown@formal@none@1@S@The bank's Arizona unit holds about $6 billion of First Interstate's $50 billion of assets.@@@@1@15@@oe@2-2-2013
21442045@unknown@formal@none@1@S@Mr. Marrie said the bank expects Arizona real-estate prices, which plummeted 40% over the last year, to fall another 20% before stabilizing.@@@@1@22@@oe@2-2-2013
21442046@unknown@formal@none@1@S@Some in Arizona think that may be optimistic.@@@@1@8@@oe@2-2-2013
21442047@unknown@formal@none@1@S@First Interstate said its operations outside of Arizona "achieved results as expected for the quarter," but didn't specify the results.@@@@1@20@@oe@2-2-2013
21442048@unknown@formal@none@1@S@First Interstate stock closed at $57.625, down 25 cents, in composite trading Friday on the New York Stock Exchange.@@@@1@19@@oe@2-2-2013
21442049@unknown@formal@none@1@S@Since its unsuccessful bid for BankAmerica Corp. in 1986, the bank has undertaken a major restructuring in an effort to cut costs and boost performance, but many industry officials believe it may be ripe for a takeover bid, especially with interstate banking set to begin in California in 1991.@@@@1@49@@oe@2-2-2013
21442050@unknown@formal@none@1@S@Mr. Marrie said the problems in Arizona have only "increased our resolve to continue to make our restructuring even more effective."@@@@1@21@@oe@2-2-2013
21442051@unknown@formal@none@1@S@Separately, Standard & Poor's Corp. lowered its ratings on Valley National Corp.'s senior debt to double-B from double-B-plus, affecting about $300 million of long-term debt.@@@@1@25@@oe@2-2-2013
21442052@unknown@formal@none@1@S@S&P also lowered ratings on unsecured deposits and issues backed by a letter of credit from the bank holding company's principal unit, Valley National Bank of Arizona.@@@@1@27@@oe@2-2-2013
21442053@unknown@formal@none@1@S@The ratings service said the downgrades reflect the continued slide in the company's financial condition.@@@@1@15@@oe@2-2-2013
21442054@unknown@formal@none@1@S@A spokesman for Phoenix, Ariz.-based Valley National, said the concern will be able to withstand the current downturn in Arizona real estate.@@@@1@22@@oe@2-2-2013
21442055@unknown@formal@none@1@S@Commercial paper holders have reinvested their funds, he said, and consumer deposits have been up in the last few days.@@@@1@20@@oe@2-2-2013
21443001@unknown@formal@none@1@S@Immunex Corp. said its scientists isolated a molecule which may hold potential as a treatment for disruptions of the immune-system, ranging from organ-transplant rejection, to allergies and asthma.@@@@1@28@@oe@2-2-2013
21443002@unknown@formal@none@1@S@The molecule is the mouse version of a protein called the interleukin-4 receptor.@@@@1@13@@oe@2-2-2013
21443003@unknown@formal@none@1@S@IL-4 is a hormone which directs the growth and function of white blood cells involved in the body's immune response.@@@@1@20@@oe@2-2-2013
21443004@unknown@formal@none@1@S@The IL-4 receptor on the surface of such cells receives the hormone's message to rally the body's defense.@@@@1@18@@oe@2-2-2013
21443005@unknown@formal@none@1@S@But in certain conditions such as autoimmune diseases and allergies and transplant rejection, doctors would like to damp the immune response so such cells don't touch off harmful inflammatory reactions or cell destruction.@@@@1@33@@oe@2-2-2013
21443006@unknown@formal@none@1@S@A soluble form of the receptor might turn off a specific part of the immune response without general immune suppression, the company said.@@@@1@23@@oe@2-2-2013
21443007@unknown@formal@none@1@S@The IL-4 receptor is one of five such receptors to be developed and tested by Receptech Corp., a spinoff of Immunex, through a proposed $30 million initial public offering.@@@@1@29@@oe@2-2-2013
21443008@unknown@formal@none@1@S@Immunex will contract with the spinoff to provide the research, development and initial testing of the new agents.@@@@1@18@@oe@2-2-2013
21443009@unknown@formal@none@1@S@Immunex will have the option to buy back Receptech shares after five years.@@@@1@13@@oe@2-2-2013
21444001@unknown@formal@none@1@S@The following issues were recently filed with the Securities and Exchange Commission:@@@@1@12@@oe@2-2-2013
21444002@unknown@formal@none@1@S@Heller Financial Inc., an indirect subsidiary of Fuji Bank Ltd., shelf offering of up to $1 billion debt securities and warrants.@@@@1@21@@oe@2-2-2013
21444003@unknown@formal@none@1@S@Jason Overseas Ltd., proposed offering of five million common shares, via Smith Barney & Co. and Mabon Nugent & Co.@@@@1@20@@oe@2-2-2013
21444004@unknown@formal@none@1@S@MCI Communications Corp., shelf offering of up to $750 million of debt securities via Merrill Lynch Capital Markets, Drexel Burnham Lambert Inc., Goldman, Sachs & Co., and Salomon Brothers Inc.@@@@1@30@@oe@2-2-2013
21444005@unknown@formal@none@1@S@Millicom Inc., offering of $60 million subordinated exchangeable debentures, via Bear, Stearns & Co. Inc.@@@@1@15@@oe@2-2-2013
21444006@unknown@formal@none@1@S@Union Tank Car Co., offering of $100 million of equipment trust certificates, via Salomon Brothers.@@@@1@15@@oe@2-2-2013
21445001@unknown@formal@none@1@S@Conner Peripherals Inc., which has a near-monopoly on a key part used in many portable computers, is on target to surpass Compaq Computer Corp. as the fastest-growing start-up manufacturing firm in U.S. business history.@@@@1@34@@oe@2-2-2013
21445002@unknown@formal@none@1@S@Conner dominates the market for hard-disk drives used to store data in laptop computers.@@@@1@14@@oe@2-2-2013
21445003@unknown@formal@none@1@S@It said yesterday that net income for its third quarter soared 72% to $11.8 million, or 28 cents a share, from $6.8 million, or 19 cents a share, in the year-ago period.@@@@1@32@@oe@2-2-2013
21445004@unknown@formal@none@1@S@Its revenue totaled $184.4 million, an increase of 172% from $67.8 million a year ago.@@@@1@15@@oe@2-2-2013
21445005@unknown@formal@none@1@S@For the nine months, the San Jose, Calif.-based company said net income jumped 84% to $26.9 million, or 69 cents a share, from $14.6 million, or 43 cents a share.@@@@1@30@@oe@2-2-2013
21445006@unknown@formal@none@1@S@Revenue nearly tripled to $479 million, from $160 million.@@@@1@9@@oe@2-2-2013
21445007@unknown@formal@none@1@S@Analysts expect Conner's earnings to reach roughly $40 million, or $1 to $1.05 a share, on sales of $650 million, for 1989, the company's third full year in business.@@@@1@29@@oe@2-2-2013
21445008@unknown@formal@none@1@S@That's a faster growth rate than reported by Compaq, which didn't post similar results until its fourth year, in 1986.@@@@1@20@@oe@2-2-2013
21445009@unknown@formal@none@1@S@But Compaq had achieved that level of sales faster than any previous manufacturing start-up.@@@@1@14@@oe@2-2-2013
21445010@unknown@formal@none@1@S@Conner's performance is closely tied to the burgeoning demand for battery-operated computers, the computer industry's fastest-growing segment.@@@@1@17@@oe@2-2-2013
21445011@unknown@formal@none@1@S@Since its inception, Conner has both benefited from and helped make possible the rapid spread of portable computers by selling storage devices that consume five to 10 times less electricity than drives used in desktop machines.@@@@1@36@@oe@2-2-2013
21445012@unknown@formal@none@1@S@Today, Conner controls an estimated 90% of the hard-disk drive market for laptop computers.@@@@1@14@@oe@2-2-2013
21445013@unknown@formal@none@1@S@The company supplies drives to Compaq and Zenith Data Systems, the top two U.S. manufacturers of laptops, and to Toshiba Corp., NEC Corp. and Sharp Corp., the leading Japanese laptop makers.@@@@1@31@@oe@2-2-2013
21445014@unknown@formal@none@1@S@"They've had this field to themselves for over a year now, and they've been greatly rewarded," said Bob Katsive, an analyst at Disk/Trend Inc., a market researcher in Los Altos, Calif.@@@@1@31@@oe@2-2-2013
21445015@unknown@formal@none@1@S@In the coming months, however, this is likely to change.@@@@1@10@@oe@2-2-2013
21445016@unknown@formal@none@1@S@Next month, Seagate Technology, which is the dominant supplier of hard-disk drives for personal computers, plans to introduce its first family of low-power drives for battery-operated computers.@@@@1@27@@oe@2-2-2013
21445017@unknown@formal@none@1@S@And the Japanese are likely to keep close on Conner's heels.@@@@1@11@@oe@2-2-2013
21445018@unknown@formal@none@1@S@"They are going to catch up," said David Claridge, an analyst with Hambrecht & Quist.@@@@1@15@@oe@2-2-2013
21445019@unknown@formal@none@1@S@Both Toshiba and NEC already produce hard-disk drives, and Sony also is studying the field, Mr. Claridge said.@@@@1@18@@oe@2-2-2013
21445020@unknown@formal@none@1@S@But Conner isn't standing still.@@@@1@5@@oe@2-2-2013
21445021@unknown@formal@none@1@S@Yesterday, the company introduced four products, three of which are aimed at a hot new class of computers called notebooks.@@@@1@20@@oe@2-2-2013
21445022@unknown@formal@none@1@S@Each of the three drives uses a mere 1.5 watts of power and one weighs just 5.5 ounces.@@@@1@18@@oe@2-2-2013
21445023@unknown@formal@none@1@S@"Most of our competitors are announcing products based on our (older) products," said Finis Conner, chief executive officer and founder of the firm that bears his name.@@@@1@27@@oe@2-2-2013
21445024@unknown@formal@none@1@S@"We continue to develop products faster than anyone else can."@@@@1@10@@oe@2-2-2013
21445025@unknown@formal@none@1@S@These new products could account for as much as 35% of the company's business in 1990, Mr. Conner estimated.@@@@1@19@@oe@2-2-2013
21445026@unknown@formal@none@1@S@"We're not afraid of obsoleting some of our old stuff to stay ahead of the competition," he said.@@@@1@18@@oe@2-2-2013
21445027@unknown@formal@none@1@S@Conner already is shipping its new drives.@@@@1@7@@oe@2-2-2013
21445028@unknown@formal@none@1@S@Last week, for instance, Compaq introduced its first notebook computer to rave reviews.@@@@1@13@@oe@2-2-2013
21445029@unknown@formal@none@1@S@Conner is supplying hard-disk drives for the machine, which weighs only six pounds and fits in a briefcase.@@@@1@18@@oe@2-2-2013
21445030@unknown@formal@none@1@S@From its inception, Conner has targeted the market for battery-operated machines, building hard-disk drives that are smaller and use far less power than those offered by competitors such as Seagate.@@@@1@30@@oe@2-2-2013
21445031@unknown@formal@none@1@S@The availability of these drives, in turn, boosted demand for laptop computers, whose usefulness had been limited because of lack of storage.@@@@1@22@@oe@2-2-2013
21445032@unknown@formal@none@1@S@Conner also makes hard-disk drives for desktop computers and is a major supplier to Compaq, which as of July owned 40% of Conner's stock.@@@@1@24@@oe@2-2-2013
21445033@unknown@formal@none@1@S@Sales to Compaq represented 26% of Conner's business in its third quarter, compared with 42% in the year-ago period.@@@@1@19@@oe@2-2-2013
21446001@unknown@formal@none@1@S@Move over, pornographic phone services: A legal service with a "900" number has been launched in California.@@@@1@17@@oe@2-2-2013
21446002@unknown@formal@none@1@S@A Newport Beach law firm started the pay-as-you-go legal service, called Telelawyer, using MCI Communication Corp.'s toll-tele-phone service.@@@@1@18@@oe@2-2-2013
21446003@unknown@formal@none@1@S@Cane & Associates touts its $2-a-minute service as the "cheapest legal hour you'll ever find."@@@@1@15@@oe@2-2-2013
21446004@unknown@formal@none@1@S@Though the service is available only in California, Telelawyer founder Michael Cane says he plans to franchise it in other states.@@@@1@21@@oe@2-2-2013
21446005@unknown@formal@none@1@S@He says his aim is to reach people who are bedridden, have no access to transportation, can't find a lawyer to take their case or simply can't afford lawyers' consultation fees.@@@@1@31@@oe@2-2-2013
21446006@unknown@formal@none@1@S@Mr. Cane stresses that he isn't using the telephone to lure clients to his doorstep.@@@@1@15@@oe@2-2-2013
21446007@unknown@formal@none@1@S@"We will only deal with clients on the phone," he says.@@@@1@11@@oe@2-2-2013
21446008@unknown@formal@none@1@S@"We have no in-office business."@@@@1@5@@oe@2-2-2013
21446009@unknown@formal@none@1@S@Telelawyer is apparently the only telephone service that offers the telephone equivalent of an office visit.@@@@1@16@@oe@2-2-2013
21446010@unknown@formal@none@1@S@Local bar associations in some states have numbers that provide free tape-recorded messages explaining certain areas of the law.@@@@1@19@@oe@2-2-2013
21446011@unknown@formal@none@1@S@There also are "800" hotlines which refer people to lawyers, usually personal-injury specialists, for in-office consultation.@@@@1@16@@oe@2-2-2013
21446012@unknown@formal@none@1@S@When a caller reaches Telelawyer by dialing 900-TELELAW, a receptionist refers the call to one of six attorneys.@@@@1@18@@oe@2-2-2013
21446013@unknown@formal@none@1@S@In an effort to determine whether a caller has reason to sue, Cane lawyers review documents and perform research, if necessary, with the help of three law clerks and several support staffers.@@@@1@32@@oe@2-2-2013
21446014@unknown@formal@none@1@S@There is no charge for research -- only for time on the phone.@@@@1@13@@oe@2-2-2013
21446015@unknown@formal@none@1@S@If the matter requires further legal work or litigation, Mr. Cane says, his lawyers may refer the client to a law firm.@@@@1@22@@oe@2-2-2013
21446016@unknown@formal@none@1@S@But he says Cane & Associates doesn't receive referral fees.@@@@1@10@@oe@2-2-2013
21446017@unknown@formal@none@1@S@So far, says Mr. Cane, most calls have involved landlord-tenant problems, tax problems, divorce, and probate questions.@@@@1@17@@oe@2-2-2013
21446018@unknown@formal@none@1@S@The firm is getting about 50 calls a day, and the average call lasts about 15 minutes.@@@@1@17@@oe@2-2-2013
21446019@unknown@formal@none@1@S@Out of the $2 charge, the law firm pockets about $1.55.@@@@1@11@@oe@2-2-2013
21446020@unknown@formal@none@1@S@JURY CONVICTS congressman in connection with Wedtech Corp. scandal.@@@@1@9@@oe@2-2-2013
21446021@unknown@formal@none@1@S@A federal court jury in New York found U.S. Rep. Robert Garcia (D., N.Y.) and his wife, Jane Lee Garcia, guilty of extorting $76,000 from Wedtech in return for official acts by the congressman.@@@@1@34@@oe@2-2-2013
21446022@unknown@formal@none@1@S@The jury also convicted them of extortion in obtaining a $20,000, interest-free loan from a Wedtech officer.@@@@1@17@@oe@2-2-2013
21446023@unknown@formal@none@1@S@The jury found them guilty of conspiracy in obtaining the payments, some of which were disguised as fees for consulting services from Mrs. Garcia.@@@@1@24@@oe@2-2-2013
21446024@unknown@formal@none@1@S@Wedtech, which became embroiled in political-corruption cases that eventually led to its demise, formerly was a minority-owned South Bronx, N.Y., defense contractor.@@@@1@22@@oe@2-2-2013
21446025@unknown@formal@none@1@S@Edward J.M. Little, one of the assistant U.S. attorneys who prosecuted the case, said the Garcia trial "is the last of the Wedtech prosecutions."@@@@1@24@@oe@2-2-2013
21446026@unknown@formal@none@1@S@Mr. Little said more than 20 people have been convicted in the Wedtech cases, including former U.S. Rep. Mario Biaggi (D., N.Y.).@@@@1@22@@oe@2-2-2013
21446027@unknown@formal@none@1@S@Lawyers for the Garcias said they plan to appeal.@@@@1@9@@oe@2-2-2013
21446028@unknown@formal@none@1@S@Mr. Garcia, who represents New York's 18th congressional district, which includes the Bronx, said he hasn't decided whether he will resign.@@@@1@21@@oe@2-2-2013
21446029@unknown@formal@none@1@S@"In the next few weeks, I will be consulting with my political advisers and with the Democratic leaders about the best way of preserving the interests of my constituents," said Mr. Garcia, 56 years old.@@@@1@35@@oe@2-2-2013
21446030@unknown@formal@none@1@S@Mrs. Garcia, 49, formerly was a member of Mr. Garcia's congressional staff.@@@@1@12@@oe@2-2-2013
21446031@unknown@formal@none@1@S@The Garcias were cleared of four other felony counts, involving the receipt of bribes and gratuities.@@@@1@16@@oe@2-2-2013
21446032@unknown@formal@none@1@S@U.S. Judge Leonard B. Sand set the Garcias' sentencing for Jan. 5.@@@@1@12@@oe@2-2-2013
21446033@unknown@formal@none@1@S@FIVE SHEA & GOULD PARTNERS are leaving to form a new firm.@@@@1@12@@oe@2-2-2013
21446034@unknown@formal@none@1@S@The new firm, Hutton Ingram Yuzek Gainen Carroll & Bertolotti, will be based in New York.@@@@1@16@@oe@2-2-2013
21446035@unknown@formal@none@1@S@The five partners who resigned from Shea & Gould late last week are Tom Hutton, Sam Ingram, Dean Yuzek, Daniel Carroll and Ernest Bertolotti.@@@@1@24@@oe@2-2-2013
21446036@unknown@formal@none@1@S@They will be joined by Larry Gainen, who resigned from the firm of LePatner, Gainen & Block.@@@@1@17@@oe@2-2-2013
21446037@unknown@formal@none@1@S@Howard Rubenstein, a New York publicist who represents Shea & Gould, said, "Shea & Gould understands they're leaving because they wanted a different environment -- a smaller firm they would be principals of."@@@@1@33@@oe@2-2-2013
21446038@unknown@formal@none@1@S@Mr. Rubenstein said the five, who weren't on Shea & Gould's management committee, "are leaving on good terms."@@@@1@18@@oe@2-2-2013
21446039@unknown@formal@none@1@S@He said Shea & Gould held a number of discussions with the five partners during the past few weeks to get them to stay but that the five were firmly committed to running their own firm.@@@@1@36@@oe@2-2-2013
21446040@unknown@formal@none@1@S@Hutton Ingram will have a general corporate, securities, real-estate and litigation practice, and a substantial practice serving the professional-design community.@@@@1@20@@oe@2-2-2013
21446041@unknown@formal@none@1@S@DISCIPLINARY PROCEEDINGS against lawyers open to public in Illinois.@@@@1@9@@oe@2-2-2013
21446042@unknown@formal@none@1@S@While investigations into lawyer misconduct will remain secret, the public will be notified once a formal complaint is filed against an attorney.@@@@1@22@@oe@2-2-2013
21446043@unknown@formal@none@1@S@The actual disciplinary hearings will be public.@@@@1@7@@oe@2-2-2013
21446044@unknown@formal@none@1@S@In addition, Illinois attorneys will lose the right to sue clients who file malicious complaints against them.@@@@1@17@@oe@2-2-2013
21446045@unknown@formal@none@1@S@Non-lawyers will be added to the inquiry panels that look into allegations of misconduct.@@@@1@14@@oe@2-2-2013
21446046@unknown@formal@none@1@S@Illinois joins 36 other states that allow public participation in attorney-disciplinary proceedings and 32 states that open disciplinary hearings to the public, according to the American Bar Association.@@@@1@28@@oe@2-2-2013
21446047@unknown@formal@none@1@S@One vocal critic of the changes, Chicago lawyer Warren Lupel, says non-lawyers shouldn't be on the inquiry panels because they are unlikely to appreciate the nuances of attorney-client relationships.@@@@1@29@@oe@2-2-2013
21446048@unknown@formal@none@1@S@In addition, he says, publishing the names of lawyers who are facing charges unnecessarily subjects them to public derogation.@@@@1@19@@oe@2-2-2013
21446049@unknown@formal@none@1@S@Nevertheless, Mr. Lupel anticipates no legal action to reverse the Illinois Supreme Court's decision to institute the changes.@@@@1@18@@oe@2-2-2013
21446050@unknown@formal@none@1@S@"There's no constitutional right involved in the rule change," he says.@@@@1@11@@oe@2-2-2013
21446051@unknown@formal@none@1@S@"You don't have a right to practice.@@@@1@7@@oe@2-2-2013
21446052@unknown@formal@none@1@S@You only have a privilege to practice."@@@@1@7@@oe@2-2-2013
21446053@unknown@formal@none@1@S@DREXEL BURNHAM LAMBERT Inc. agreed to pay a $50,000 fine to Delaware, the 26th state to settle with Drexel in the wake of the firm's guilty plea to federal insider-trading charges.@@@@1@31@@oe@2-2-2013
21446054@unknown@formal@none@1@S@Drexel doesn't have a Delaware office, but the New York firm has been negotiating settlements that would allow it to operate freely nationwide despite its record as an admitted felon.@@@@1@30@@oe@2-2-2013
21446055@unknown@formal@none@1@S@The firm has said it expects to pay $11.5 million overall to settle with states.@@@@1@15@@oe@2-2-2013
21446056@unknown@formal@none@1@S@Drexel pleaded guilty in September to six felony counts of securities and mail fraud; it also made a $650 million civil settlement with the Securities and Exchange Commission.@@@@1@28@@oe@2-2-2013
21447001@unknown@formal@none@1@S@Philip Morris Cos., whose Benson & Hedges cigarette brand has been losing market share, has asked at least one other agency to try its hand at creative work for the big account, which has been at Wells Rich Greene Inc. since 1966.@@@@1@42@@oe@2-2-2013
21447002@unknown@formal@none@1@S@Executives close to Philip Morris said that the tobacco and food giant has asked Backer Spielvogel Bates Worldwide Inc., a unit of Saatchi & Saatchi Co., and possibly others to work on creative ideas for the account.@@@@1@37@@oe@2-2-2013
21447003@unknown@formal@none@1@S@Several executives said another potential contender is WPP Group's Ogilvy & Mather agency, which works on some other Philip Morris products.@@@@1@21@@oe@2-2-2013
21447004@unknown@formal@none@1@S@Both Philip Morris and Backer Spielvogel declined to comment.@@@@1@9@@oe@2-2-2013
21447005@unknown@formal@none@1@S@A spokeswoman for Ogilvy & Mather said the agency doesn't comment on "idle speculation."@@@@1@14@@oe@2-2-2013
21447006@unknown@formal@none@1@S@Also mentioned as a contender was TBWA Advertising, but the company denied it was participating.@@@@1@15@@oe@2-2-2013
21447007@unknown@formal@none@1@S@The loss of the cigarette account would be a severe blow to Wells Rich.@@@@1@14@@oe@2-2-2013
21447008@unknown@formal@none@1@S@Benson & Hedges has been one of its most high-visibility campaigns, as well as one of its largest clients.@@@@1@19@@oe@2-2-2013
21447009@unknown@formal@none@1@S@The account billed almost $60 million last year, according to Leading National Advertisers.@@@@1@13@@oe@2-2-2013
21447010@unknown@formal@none@1@S@But Philip Morris has scaled back ad spending on the brand over the past year, industry executives said, and it now bills about $30 million to $40 million.@@@@1@28@@oe@2-2-2013
21447011@unknown@formal@none@1@S@Industry executives said Philip Morris had asked the other agencies to create campaigns in a bid to stop the brand's slipping market share.@@@@1@23@@oe@2-2-2013
21447012@unknown@formal@none@1@S@According to John Maxwell, an analyst at Wheat First Securities, Richmond, Va., Benson & Hedges has slipped from 4.7% of the cigarette market in 1985 to just 4.1% after the second quarter of this year.@@@@1@35@@oe@2-2-2013
21447013@unknown@formal@none@1@S@The brand is No. 7 overall in the cigarette business, Mr. Maxwell said.@@@@1@13@@oe@2-2-2013
21447014@unknown@formal@none@1@S@The slip has come despite high-profile ads created by Wells Rich, including one picturing a young man clad only in pajama bottoms interrupting a festive brunch.@@@@1@26@@oe@2-2-2013
21447015@unknown@formal@none@1@S@That ad generated so much publicity that a trade magazine launched a contest for its readers to guess who the guy was and what he was doing.@@@@1@27@@oe@2-2-2013
21447016@unknown@formal@none@1@S@Wells Rich first popularized the Benson & Hedges brand more than 20 years ago with ads portraying, among other things, an elevator door closing on a passenger's cigarette.@@@@1@28@@oe@2-2-2013
21447017@unknown@formal@none@1@S@The brand early on achieved an upscale appeal -- a trait that some analysts believe is partly responsible for its staid performance.@@@@1@22@@oe@2-2-2013
21447018@unknown@formal@none@1@S@Philip Morris, trying to revive the Benson & Hedges franchise, put the account up for review in 1986.@@@@1@18@@oe@2-2-2013
21447019@unknown@formal@none@1@S@Wells Rich Greene, however, in an effort directed by Mary Wells Lawrence, emerged the victor of the review and retained the business.@@@@1@22@@oe@2-2-2013
21447020@unknown@formal@none@1@S@Kenneth Olshan, Wells Rich's chairman, didn't return phone calls seeking comment.@@@@1@11@@oe@2-2-2013
21447021@unknown@formal@none@1@S@While Wells Rich recently picked up Hertz Corp.'s $25 million to $30 million account, it has lost a number of big accounts this year, including the $20 million to $25 million Cadbury-Schweppes Canada Dry and Sunkist accounts, the $18 million Procter & Gamble Co. Sure deodorant account and the $10 million Polo/Ralph Lauren business.@@@@1@54@@oe@2-2-2013
21447022@unknown@formal@none@1@S@Its victories include more than $30 million in Sheraton Corp. business and an assignment from Dun & Bradstreet worth $5 million to $10 million.@@@@1@24@@oe@2-2-2013
21448001@unknown@formal@none@1@S@This city is girding for gridlock today as hundreds of thousands of commuters avoid travel routes ravaged by last week's earthquake.@@@@1@21@@oe@2-2-2013
21448002@unknown@formal@none@1@S@Estimates of damage in the six-county San Francisco Bay area neared $5 billion, excluding the cost of repairing the region's transportation system.@@@@1@22@@oe@2-2-2013
21448003@unknown@formal@none@1@S@The Bay Bridge, the main artery into San Francisco from the east, will be closed for at least several weeks.@@@@1@20@@oe@2-2-2013
21448004@unknown@formal@none@1@S@Part of the bridge collapsed in the quake, which registered 6.9 on the Richter scale.@@@@1@15@@oe@2-2-2013
21448005@unknown@formal@none@1@S@The bridge normally carries 250,000 commuters a day.@@@@1@8@@oe@2-2-2013
21448006@unknown@formal@none@1@S@Also, most of the ramps connecting the city to its main link to the south, the 101 freeway, have been closed for repairs.@@@@1@23@@oe@2-2-2013
21448007@unknown@formal@none@1@S@The Bay Area Rapid Transit system, which runs subway trains beneath the bay, is braced for a doubling of its daily regular ridership to 300,000.@@@@1@25@@oe@2-2-2013
21448008@unknown@formal@none@1@S@BART has increased service to 24 hours a day in preparation for the onslaught.@@@@1@14@@oe@2-2-2013
21448009@unknown@formal@none@1@S@Most unusual will be water-borne commuters from the East Bay towns of Oakland and Berkeley.@@@@1@15@@oe@2-2-2013
21448010@unknown@formal@none@1@S@For the first time in 32 years, ferry service has been restored between the East Bay and San Francisco.@@@@1@19@@oe@2-2-2013
21448011@unknown@formal@none@1@S@The Red and White Fleet, which operates regular commuter ferry service to and from Marin County, and tourist tours of the bay, is offering East Bay commuters a chance to ride the waves for the price of $10 round-trip.@@@@1@39@@oe@2-2-2013
21448012@unknown@formal@none@1@S@That tariff is too stiff for some Financial District wage earners.@@@@1@11@@oe@2-2-2013
21448013@unknown@formal@none@1@S@"I'll stay with BART," said one secretary, swallowing her fears about using the transbay tube.@@@@1@15@@oe@2-2-2013
21448014@unknown@formal@none@1@S@Officials expect the Golden Gate Bridge to be swamped with an extra load of commuters, including East Bay residents making a long detour.@@@@1@23@@oe@2-2-2013
21448015@unknown@formal@none@1@S@"We're anticipating quite a traffic crunch," said one official.@@@@1@9@@oe@2-2-2013
21448016@unknown@formal@none@1@S@About 23,000 people typically travel over the Golden Gate Bridge during commute hours.@@@@1@13@@oe@2-2-2013
21448017@unknown@formal@none@1@S@About 130,000 vehicles cross during a 24-hour period.@@@@1@8@@oe@2-2-2013
21448018@unknown@formal@none@1@S@Meetings canceled by Apple Computer Inc.'s European sales force and by other groups raised the specter of empty hotel rooms and restaurants.@@@@1@22@@oe@2-2-2013
21448019@unknown@formal@none@1@S@It also raised hackles of the city's tourism boosters.@@@@1@9@@oe@2-2-2013
21448020@unknown@formal@none@1@S@"Other cities are calling {groups booked here for tours and conferences} and -- not to be crass -- stealing our booking list," said Scott Shafer, a spokesman for Mayor Art Agnos.@@@@1@31@@oe@2-2-2013
21448021@unknown@formal@none@1@S@City officials stuck by their estimate of $2 billion in damage to the quake-shocked city.@@@@1@15@@oe@2-2-2013
21448022@unknown@formal@none@1@S@The other five Bay area counties have increased their total damage estimates to $2.8 billion.@@@@1@15@@oe@2-2-2013
21448023@unknown@formal@none@1@S@All estimates exclude highway repair, which could exceed $1 billion.@@@@1@10@@oe@2-2-2013
21448024@unknown@formal@none@1@S@Among the expensive unknowns are stretches of elevated freeway in San Francisco that were closed because of quake-inflicted damage.@@@@1@19@@oe@2-2-2013
21448025@unknown@formal@none@1@S@The most worrisome stretch is 1.2 miles of waterfront highway known as the Embarcadero Freeway.@@@@1@15@@oe@2-2-2013
21448026@unknown@formal@none@1@S@Until it was closed Tuesday, it had provided the quickest series of exits for commuters from the Bay Bridge heading into the Financial District.@@@@1@24@@oe@2-2-2013
21448027@unknown@formal@none@1@S@Engineers say it will take at least eight months to repair the Embarcadero structure.@@@@1@14@@oe@2-2-2013
21448028@unknown@formal@none@1@S@As part of the quake recovery effort, the city Building Department has surveyed about 3,000 buildings, including all of the Financial District's high-rises.@@@@1@23@@oe@2-2-2013
21448029@unknown@formal@none@1@S@The preliminary conclusion from a survey of 200 downtown high-rises is that "we were incredibly lucky," said Lawrence Kornfield, San Francisco's chief building inspector.@@@@1@24@@oe@2-2-2013
21448030@unknown@formal@none@1@S@While many of these buildings sustained heavy damage, little of that involved major structural damage.@@@@1@15@@oe@2-2-2013
21448031@unknown@formal@none@1@S@City building codes require construction that can resist temblors.@@@@1@9@@oe@2-2-2013
21448032@unknown@formal@none@1@S@In England, Martin Leach, a spokesman for Lloyd's of London, said the insurance market hasn't yet been able to estimate the total potential claims from the disaster.@@@@1@27@@oe@2-2-2013
21448033@unknown@formal@none@1@S@"The extent of the claims won't be known for some time," Mr. Leach said.@@@@1@14@@oe@2-2-2013
21448034@unknown@formal@none@1@S@On Friday, during a visit to California to survey quake damage, President Bush promised to "meet the federal government's obligation" to assist relief efforts.@@@@1@24@@oe@2-2-2013
21448035@unknown@formal@none@1@S@California officials plan to ask Congress for $3 billion or more of federal aid, in the form of grants and low-interest loans.@@@@1@22@@oe@2-2-2013
21448036@unknown@formal@none@1@S@The state has a $1 billion reserve, and is expected to add $1 billion to that fund in the next year.@@@@1@21@@oe@2-2-2013
21448037@unknown@formal@none@1@S@Some of that money will be available for highway repair and special emergency aid, but members of the legislature are also mulling over a temporary state gasoline tax to raise money for earthquake relief.@@@@1@34@@oe@2-2-2013
21448038@unknown@formal@none@1@S@However, state initiatives restrict the ability of the legislature to raise such taxes unless the voters approve in a statewide referendum.@@@@1@21@@oe@2-2-2013
21448039@unknown@formal@none@1@S@G. Christian Hill and Ken Wells contributed to this article.@@@@1@10@@oe@2-2-2013
21449001@unknown@formal@none@1@S@Bond Corp. Holdings Ltd. posted a loss for fiscal 1989 of 980.2 million Australian dollars (US$762.4 million), the largest in Australian corporate history.@@@@1@23@@oe@2-2-2013
21449002@unknown@formal@none@1@S@That loss compared with a year-earlier profit of A$273.5 million.@@@@1@10@@oe@2-2-2013
21449003@unknown@formal@none@1@S@In preliminary, unaudited results reported Friday, Bond Corp. also posted an operating loss of A$814.1 million for the year ended June 30, compared with operating profit of A$354.7 million a year earlier.@@@@1@32@@oe@2-2-2013
21449004@unknown@formal@none@1@S@Operating revenue rose 69% to A$8.48 billion from A$5.01 billion.@@@@1@10@@oe@2-2-2013
21449005@unknown@formal@none@1@S@But the net interest bill jumped 85% to A$686.7 million from A$371.1 million.@@@@1@13@@oe@2-2-2013
21449006@unknown@formal@none@1@S@Bond Corp. has interests in brewing, media and communications, natural resources and property.@@@@1@13@@oe@2-2-2013
21449007@unknown@formal@none@1@S@Much of Bond Corp.'s losses stemmed from one-time write-downs of the value of some of Bond Corp.'s assets and those of its units.@@@@1@23@@oe@2-2-2013
21449008@unknown@formal@none@1@S@The results included a A$453.4 million write-off of future income-tax benefits and a provision for a loss of A$149.5 million on the sale of a stake of about 20% in Lonrho PLC.@@@@1@32@@oe@2-2-2013
21449009@unknown@formal@none@1@S@However, Bond Corp. said the tax benefits remain available and might be used later.@@@@1@14@@oe@2-2-2013
21449010@unknown@formal@none@1@S@Earnings before interest and tax from brewing dived 50% to A$123.8 million from A$247.3 million.@@@@1@15@@oe@2-2-2013
21449011@unknown@formal@none@1@S@The company said the general financial performance of its U.S. brewing operations, G. Heileman Brewing Co., was "disappointing, and this has been reflected in the results."@@@@1@26@@oe@2-2-2013
21449012@unknown@formal@none@1@S@Bond Corp.'s shares closed Friday before news of the results at 28 Australian cents a share, up one Australian cent.@@@@1@20@@oe@2-2-2013
21449013@unknown@formal@none@1@S@The staggering losses cap a tumultuous year for Alan Bond and his flagship, Bond Corp.@@@@1@15@@oe@2-2-2013
21449014@unknown@formal@none@1@S@Only a year ago, the chairman of Bond Corp., who controls about 58% of the company, appeared to be building a war chest to attack some big companies.@@@@1@28@@oe@2-2-2013
21449015@unknown@formal@none@1@S@Now Bond Corp. has agreed to sell at least half its Australian brewing assets.@@@@1@14@@oe@2-2-2013
21449016@unknown@formal@none@1@S@It has sold billions of dollars of other assets and has more on the block.@@@@1@15@@oe@2-2-2013
21449017@unknown@formal@none@1@S@But in a TV interview Sunday Mr. Bond said, "We've taken a big loss.@@@@1@14@@oe@2-2-2013
21449018@unknown@formal@none@1@S@We've taken it on the chin.@@@@1@6@@oe@2-2-2013
21449019@unknown@formal@none@1@S@But we're out there and we're going to stay in business.@@@@1@11@@oe@2-2-2013
21449020@unknown@formal@none@1@S@Bond Corp. signaled it will focus on building its domestic and international media and communications businesses.@@@@1@16@@oe@2-2-2013
21449021@unknown@formal@none@1@S@It said it will look at opportunities in brewing, property and energy resources to the extent consistent with the dominant objective of manageable debt-to-assets ratios.@@@@1@25@@oe@2-2-2013
21449022@unknown@formal@none@1@S@The result "will ultimately be a very different group in size and structure," Bond Corp. directors said in a statement.@@@@1@20@@oe@2-2-2013
21449023@unknown@formal@none@1@S@Some analysts contend the total writeoffs should have been much greater, and Bond Corp.'s auditors cited a list of several assets and deals about which there is "uncertainty" regarding the current value and potential impact on the firm.@@@@1@38@@oe@2-2-2013
21449024@unknown@formal@none@1@S@Bond Corp. said the acknowledged losses mean net asset backing is in the red to the tune of 53 Australian cents a share, vs. positive asset backing of A$1.92 a share a year ago.@@@@1@34@@oe@2-2-2013
21449025@unknown@formal@none@1@S@Still, the directors said, "Having fully considered all aspects of the company's state of affairs and future cash flows, the directors confirm absolutely that the company is solvent."@@@@1@28@@oe@2-2-2013
21449026@unknown@formal@none@1@S@Indeed, in a note to the results, directors said if the "true worth" of some of the group's assets were taken into account instead of using book values, the negative net asset backing a share would turn into "a substantial positive" one.@@@@1@42@@oe@2-2-2013
21450001@unknown@formal@none@1@S@The Bakersfield Supermarket went out of business last May.@@@@1@9@@oe@2-2-2013
21450002@unknown@formal@none@1@S@The reason was not high interest rates or labor costs.@@@@1@10@@oe@2-2-2013
21450003@unknown@formal@none@1@S@Nor was there a shortage of customers in the area, the residential Inwood section of northern Manhattan.@@@@1@17@@oe@2-2-2013
21450004@unknown@formal@none@1@S@The business closed when the owner was murdered by robbers.@@@@1@10@@oe@2-2-2013
21450005@unknown@formal@none@1@S@The owner was Israel Ortiz, a 29-year-old entrepreneur and father of two.@@@@1@12@@oe@2-2-2013
21450006@unknown@formal@none@1@S@In his first year of operating the store he bought for $220,000, Mr. Ortiz was robbed at least twice at gunpoint.@@@@1@21@@oe@2-2-2013
21450007@unknown@formal@none@1@S@The first time he was shot in the hand as he chased the robbers outside.@@@@1@15@@oe@2-2-2013
21450008@unknown@formal@none@1@S@The second time he identified two robbers, who were arrested and charged.@@@@1@12@@oe@2-2-2013
21450009@unknown@formal@none@1@S@Two weeks later -- perhaps in retaliation -- Mr. Ortiz was shot three times in the back, during what police classified as a third robbery attempt.@@@@1@26@@oe@2-2-2013
21450010@unknown@formal@none@1@S@That was his reward for working until 11 p.m. seven days a week to cover his $3,000 a month rent.@@@@1@20@@oe@2-2-2013
21450011@unknown@formal@none@1@S@For providing what his customers described as very personal and helpful service.@@@@1@12@@oe@2-2-2013
21450012@unknown@formal@none@1@S@For creating a focus for neighborhood life.@@@@1@7@@oe@2-2-2013
21450013@unknown@formal@none@1@S@Israel Ortiz is only one of the thousands of entrepreneurs and their employees who will be injured or killed by crime this year.@@@@1@23@@oe@2-2-2013
21450014@unknown@formal@none@1@S@The U.S. Bureau of Justice Statistics reports that almost 2% of all retail-sales workers suffer injuries from crime each year, almost twice the national average and about four times the rate for teachers, truck drivers, medical workers and door-to-door salespeople.@@@@1@40@@oe@2-2-2013
21450015@unknown@formal@none@1@S@Only a few other occupations have higher reported rates of criminal injury, such as police, bartenders and taxi drivers.@@@@1@19@@oe@2-2-2013
21450016@unknown@formal@none@1@S@Yet these figures show only the most visible part of the problem.@@@@1@12@@oe@2-2-2013
21450017@unknown@formal@none@1@S@Recent data from New York City provide more of the picture.@@@@1@11@@oe@2-2-2013
21450018@unknown@formal@none@1@S@While by no means the highest crime community in the country, New York is a prime example of a city where crime strangles small-business development.@@@@1@25@@oe@2-2-2013
21450019@unknown@formal@none@1@S@A survey of small businesses there was conducted this spring by Interface, a policy research organization.@@@@1@16@@oe@2-2-2013
21450020@unknown@formal@none@1@S@It gave 1,124 businesses a questionnaire and analyzed 353 responses.@@@@1@10@@oe@2-2-2013
21450021@unknown@formal@none@1@S@The survey found that over a three-year period 22% of the firms said employees or owners had been robbed on their way to or from work or while on the job.@@@@1@31@@oe@2-2-2013
21450022@unknown@formal@none@1@S@Seventeen percent reported their customers being robbed.@@@@1@7@@oe@2-2-2013
21450023@unknown@formal@none@1@S@Crime was the reason that 26% reported difficulty recruiting personnel and that 19% said they were considering moving.@@@@1@18@@oe@2-2-2013
21450024@unknown@formal@none@1@S@More than one-third of the responding businesses said they suffer from drug dealing and loitering near their premises.@@@@1@18@@oe@2-2-2013
21450025@unknown@formal@none@1@S@In Brooklyn and the Bronx, one out of four commercial firms is burglarized each year.@@@@1@15@@oe@2-2-2013
21450026@unknown@formal@none@1@S@Industrial neighborhoods fare even worse, with burglary rates twice the citywide average.@@@@1@12@@oe@2-2-2013
21450027@unknown@formal@none@1@S@Crime is clearly more deadly to small-scale entrepreneurship than to big businesses.@@@@1@12@@oe@2-2-2013
21450028@unknown@formal@none@1@S@Two decades ago, the Small Business Administration reported Yale Prof. Albert Reiss's landmark study of crime against 2,500 small businesses drawn from national IRS records.@@@@1@25@@oe@2-2-2013
21450029@unknown@formal@none@1@S@He found that monetary crime losses, as a proportion of gross receipts, were 37 times higher for small businesses than for large ones.@@@@1@23@@oe@2-2-2013
21450030@unknown@formal@none@1@S@The New York study's companies averaged 27 employees; their annual crime losses averaged about $15,000, with an additional $8,385 annual cost in security -- enough money to hire at least one more worker.@@@@1@33@@oe@2-2-2013
21450031@unknown@formal@none@1@S@The costs of crime may also be enough to destroy a struggling business.@@@@1@13@@oe@2-2-2013
21450032@unknown@formal@none@1@S@Whatever the monetary crime losses, they may not be nearly as important to entrepreneurs as the risk of personal injury.@@@@1@20@@oe@2-2-2013
21450033@unknown@formal@none@1@S@After repeated gun robberies, some entrepreneurs may give up a business out of fear for their lives.@@@@1@17@@oe@2-2-2013
21450034@unknown@formal@none@1@S@One Washington couple recently sold their liquor store after 34 years in business that included four robbery deaths and 16 robberies or burglaries on the premises.@@@@1@26@@oe@2-2-2013
21450035@unknown@formal@none@1@S@These findings illustrate the vicious cycle that National Institute of Justice Director James K. Stewart calls "crime causing poverty."@@@@1@19@@oe@2-2-2013
21450036@unknown@formal@none@1@S@Underclass neighborhoods offer relatively few employment opportunities, contributing to the poverty of local residents.@@@@1@14@@oe@2-2-2013
21450037@unknown@formal@none@1@S@Small neighborhood businesses could provide more jobs, if crime were not so harmful to creating and maintaining those businesses.@@@@1@19@@oe@2-2-2013
21450038@unknown@formal@none@1@S@This may help explain why small businesses create 65% of all jobs nationally, but only 22% of jobs in a crime-ridden city like New York.@@@@1@25@@oe@2-2-2013
21450039@unknown@formal@none@1@S@Bigger business can often better afford to minimize the cost of crime.@@@@1@12@@oe@2-2-2013
21450040@unknown@formal@none@1@S@The New York study found that the cost of security measures in firms with fewer than five employees was almost $1,000 per worker, compared with one-third that amount for firms with more than 10 employees.@@@@1@35@@oe@2-2-2013
21450041@unknown@formal@none@1@S@The shift of retailing to large shopping centers has created even greater economies of scale for providing low-crime business environments.@@@@1@20@@oe@2-2-2013
21450042@unknown@formal@none@1@S@Private security guards and moonlighting police can invoke the law of trespass to regulate access to these quasi-public places.@@@@1@19@@oe@2-2-2013
21450043@unknown@formal@none@1@S@Since 1984, in fact, revenues of the 10 largest guard companies, primarily serving such big businesses, have increased by almost 62%.@@@@1@21@@oe@2-2-2013
21450044@unknown@formal@none@1@S@Few small neighborhood businesses, however, can afford such protection, even in collaboration with other local merchants.@@@@1@16@@oe@2-2-2013
21450045@unknown@formal@none@1@S@In the neighborhoods with the highest crime rates, small business generally relies on the public police force for protection.@@@@1@19@@oe@2-2-2013
21450046@unknown@formal@none@1@S@This creates several problems.@@@@1@4@@oe@2-2-2013
21450047@unknown@formal@none@1@S@One is that there are not enough police to satisfy small businesses.@@@@1@12@@oe@2-2-2013
21450048@unknown@formal@none@1@S@The number one proposal for reducing crime in the New York survey was to put more police on foot or scooter patrol, suggested by more than two-thirds of the respondents.@@@@1@30@@oe@2-2-2013
21450049@unknown@formal@none@1@S@Only 22% supported private security patrols funded by the merchants themselves.@@@@1@11@@oe@2-2-2013
21450050@unknown@formal@none@1@S@A second problem is the persistent frustration of false alarms, which can make urban police less than enthusiastic about responding to calls from small businesses.@@@@1@25@@oe@2-2-2013
21450051@unknown@formal@none@1@S@Only half the New York small businesses surveyed, for their part, are satisfied with the police response they receive.@@@@1@19@@oe@2-2-2013
21450052@unknown@formal@none@1@S@Some cities, including New York, have experimented with special tax districts for commercial areas that provide additional patrols funded by local businesses.@@@@1@22@@oe@2-2-2013
21450053@unknown@formal@none@1@S@But this raises added cost barriers to urban entrepreneurship.@@@@1@9@@oe@2-2-2013
21450054@unknown@formal@none@1@S@Another solution cities might consider is giving special priority to police patrols of small-business areas.@@@@1@15@@oe@2-2-2013
21450055@unknown@formal@none@1@S@For cities losing business to suburban shopping centers, it may be a wise business investment to help keep those jobs and sales taxes within city limits.@@@@1@26@@oe@2-2-2013
21450056@unknown@formal@none@1@S@Increased patrolling of business zones makes sense because urban crime is heavily concentrated in such "hot spots" of pedestrian density.@@@@1@20@@oe@2-2-2013
21450057@unknown@formal@none@1@S@With National Institute of Justice support, the Minneapolis police and the Crime Control Institute are currently testing the effects of such a strategy, comparing its deterrence value with traditional random patrols.@@@@1@31@@oe@2-2-2013
21450058@unknown@formal@none@1@S@Small-business patrols would be an especially helpful gesture whenever a small-business person is scheduled to testify against a robbery suspect.@@@@1@20@@oe@2-2-2013
21450059@unknown@formal@none@1@S@While no guarantee, an increased police presence might even deter further attacks.@@@@1@12@@oe@2-2-2013
21450060@unknown@formal@none@1@S@It might even have saved the life, and business, of Israel Ortiz.@@@@1@12@@oe@2-2-2013
21450061@unknown@formal@none@1@S@Mr. Sherman is a professor of criminology at the University of Maryland and president of the Crime Control Institute in Washington, D.C.@@@@1@22@@oe@2-2-2013
21451001@unknown@formal@none@1@S@ENFIELD Corp. said in Toronto that it hopes to raise 56 million Canadian dollars (US$47.7 million) through a rights offering to shareholders.@@@@1@22@@oe@2-2-2013
21451002@unknown@formal@none@1@S@Under the offer, shareholders can purchase one Enfield share at C$6.27 for each five shares held.@@@@1@16@@oe@2-2-2013
21451003@unknown@formal@none@1@S@In Toronto Stock Exchange trading Friday, Enfield closed at C$6.75, down 37.5 cents.@@@@1@13@@oe@2-2-2013
21451004@unknown@formal@none@1@S@The holding company said the rights offering should reduce its C$171 million debt to "more manageable levels" before Dec. 31 and allow it to finance future investments with equity capital.@@@@1@30@@oe@2-2-2013
21451005@unknown@formal@none@1@S@At last report, Enfield had about 44.5 million shares outstanding.@@@@1@10@@oe@2-2-2013
21452001@unknown@formal@none@1@S@Former U.N. Ambassador Jeane Kirkpatrick, in a CNN "Capital Gang" discussion Oct. 7 of House action on federal catastrophic-illness insurance:@@@@1@20@@oe@2-2-2013
21452002@unknown@formal@none@1@S@I think this repeal was kind of a thoughtless action, as a matter of fact. . . .@@@@1@18@@oe@2-2-2013
21452003@unknown@formal@none@1@S@They will have to revisit this issue, and they'll have to revisit it before long.@@@@1@15@@oe@2-2-2013
21453001@unknown@formal@none@1@S@Diversification pays.@@@@1@2@@oe@2-2-2013
21453002@unknown@formal@none@1@S@That's a fundamental lesson for investors, but its truth was demonstrated once again in the performance of mutual funds during and after the stock market's Friday-the-13th plunge.@@@@1@27@@oe@2-2-2013
21453003@unknown@formal@none@1@S@Stock funds, like the market as a whole, generally dropped more than 2% in the week through last Thursday, according to figures compiled by Lipper Analytical Services Inc.@@@@1@28@@oe@2-2-2013
21453004@unknown@formal@none@1@S@That reflects the huge drop a week ago Friday, last Monday's rebound and the dips and blips that followed.@@@@1@19@@oe@2-2-2013
21453005@unknown@formal@none@1@S@But several other types of funds shielded investors from the worst of the market's slide.@@@@1@15@@oe@2-2-2013
21453006@unknown@formal@none@1@S@Funds that invest internationally were the top-performing stock and fixed-income funds.@@@@1@11@@oe@2-2-2013
21453007@unknown@formal@none@1@S@"More than ever, people should realize they should have a diversified portfolio," said Jeremy Duffield, a senior vice president of Vanguard Group.@@@@1@22@@oe@2-2-2013
21453008@unknown@formal@none@1@S@"That means stocks, bonds, money market instruments and real estate."@@@@1@10@@oe@2-2-2013
21453009@unknown@formal@none@1@S@One week's performance shouldn't be the basis for any investment decision.@@@@1@11@@oe@2-2-2013
21453010@unknown@formal@none@1@S@But the latest mutual fund performance figures do show what can happen when the going gets rough.@@@@1@17@@oe@2-2-2013
21453011@unknown@formal@none@1@S@"You want to know how a fund did when the market got hammered," said Kurt Brouwer, an investment adviser with Brouwer & Janachowski in San Francisco.@@@@1@26@@oe@2-2-2013
21453012@unknown@formal@none@1@S@"It's like kicking the tires of a car . . . .@@@@1@12@@oe@2-2-2013
21453013@unknown@formal@none@1@S@What you want to know is when the road's rough, when there's snow and ice, how's this car going to perform?"@@@@1@21@@oe@2-2-2013
21453014@unknown@formal@none@1@S@General equity funds fell an average of 2.35% in the week ended Thursday, compared with a 2.32% slide for the Standard & Poor's 500-stock index.@@@@1@25@@oe@2-2-2013
21453015@unknown@formal@none@1@S@But Lipper Analytical's figures show that there were a number of ways investors could have cushioned themselves from the stock market's gyrations.@@@@1@22@@oe@2-2-2013
21453016@unknown@formal@none@1@S@Gold-oriented funds, for instance, which invest in companies that mine and process the precious metal, posted an average decline of 1.15%.@@@@1@21@@oe@2-2-2013
21453017@unknown@formal@none@1@S@Flexible portfolio funds, which allocate investments among stocks, bonds and money-market instruments and other investments, declined at about half the rate of stock funds -- an average drop of 1.27%, according to Lipper.@@@@1@33@@oe@2-2-2013
21453018@unknown@formal@none@1@S@Global allocation funds take the asset-allocation concept one step further by investing at least 25% of their portfolios outside the U.S.@@@@1@21@@oe@2-2-2013
21453019@unknown@formal@none@1@S@This gives them the added benefits of international diversification -- including a foreign-exchange boost during periods, like the past week, when the dollar declines against other major currencies.@@@@1@28@@oe@2-2-2013
21453020@unknown@formal@none@1@S@With all that going for them, global flexible portfolio funds declined only 1.07% in the week through last Thursday.@@@@1@19@@oe@2-2-2013
21453021@unknown@formal@none@1@S@But while the merits of diversification shine through when times are tough, there's also a price to pay: A diversified portfolio always underperforms an undiversified portfolio during those times when the investment in the undiversified portfolio is truly hot.@@@@1@39@@oe@2-2-2013
21453022@unknown@formal@none@1@S@And Friday the 13th notwithstanding, stocks have been this year's hot investment.@@@@1@12@@oe@2-2-2013
21453023@unknown@formal@none@1@S@Thus, even including the latest week, the average general stock fund has soared more than 24% so far this year, the Lipper Analytical figures show.@@@@1@25@@oe@2-2-2013
21453024@unknown@formal@none@1@S@By comparison, global asset allocation funds have turned in an average total return of about 19%, while domestic flexible portfolios are up about 17%.@@@@1@24@@oe@2-2-2013
21453025@unknown@formal@none@1@S@Fixed-income funds have returned 8.2%, while gold funds, which tend to be volatile, have risen just 4.55%, on average.@@@@1@19@@oe@2-2-2013
21453026@unknown@formal@none@1@S@"That's the problem with trying to hedge too much," said Mr. Brouwer.@@@@1@12@@oe@2-2-2013
21453027@unknown@formal@none@1@S@"You don't make any real money."@@@@1@6@@oe@2-2-2013
21453028@unknown@formal@none@1@S@Over the last 20 years, for example, Mr. Brouwer says, an investor putting $5,000 a year in the S&P 500 would have made nearly twice as much than if it were invested in Treasury bills.@@@@1@35@@oe@2-2-2013
21453029@unknown@formal@none@1@S@Some equity funds did better than others in the week that began on Friday the 13th.@@@@1@16@@oe@2-2-2013
21453030@unknown@formal@none@1@S@The $4 million Monetta Fund, for instance, was the seventh top performing fund for the week, with a 2.65% return.@@@@1@20@@oe@2-2-2013
21453031@unknown@formal@none@1@S@Its return so far this year has been a credible 21.71%.@@@@1@11@@oe@2-2-2013
21453032@unknown@formal@none@1@S@The fund's strategy is to sell when a stock appreciates 30% over its cost.@@@@1@14@@oe@2-2-2013
21453033@unknown@formal@none@1@S@By the time the market plummeted 10 days ago, Monetta was 55% in cash, said Robert Bacarella, president and portfolio manager.@@@@1@21@@oe@2-2-2013
21453034@unknown@formal@none@1@S@Last Monday, he started "buying the high-quality growth companies that people were throwing away at discount prices."@@@@1@17@@oe@2-2-2013
21453035@unknown@formal@none@1@S@Among Mr. Bacarella's picks: Oracle Systems, Reebok International Ltd. and Digital Microwave Corp.@@@@1@13@@oe@2-2-2013
21453036@unknown@formal@none@1@S@The fund's cash position is now about 22%, which Mr. Bacarella calls "still bearish."@@@@1@14@@oe@2-2-2013
21453037@unknown@formal@none@1@S@Among the big stock funds, Dreyfus Fund, with more than $2 billion in assets, had a decline of just 1.49% for the week and a return of 21.42% for the year.@@@@1@31@@oe@2-2-2013
21453038@unknown@formal@none@1@S@Howard Stein, chairman of Dreyfus Corp., said the fund was about half invested in government bonds on Oct. 13, and about 10% in cash.@@@@1@24@@oe@2-2-2013
21453039@unknown@formal@none@1@S@"In a downward market, bonds act better," he said.@@@@1@9@@oe@2-2-2013
21453040@unknown@formal@none@1@S@"We still think there's a lot of unsettlement in this market.@@@@1@11@@oe@2-2-2013
21453041@unknown@formal@none@1@S@We believe interest rates will continue to trend lower, and the economy will slow around the world."@@@@1@17@@oe@2-2-2013
21453042@unknown@formal@none@1@S@Many of the funds that did best in the last week are heavily invested overseas, giving them the benefit of foreign currency translations when the dollar is weak.@@@@1@28@@oe@2-2-2013
21453043@unknown@formal@none@1@S@From its high point on Thursday, Oct. 12, to where it traded late in New York a week later, the dollar fell 3.6% against the West German mark, 3.4% against the British pound and 2.1% against the Japanese yen.@@@@1@39@@oe@2-2-2013
21453044@unknown@formal@none@1@S@Three International Cash Portfolios funds, which invest almost exclusively in bonds and money-market instruments overseas, were among the four top-performing funds in the latest week.@@@@1@25@@oe@2-2-2013
21453045@unknown@formal@none@1@S@Because the funds' investments are denominated in foreign currencies, their value expressed in dollars goes up when those currencies rise against the dollar.@@@@1@23@@oe@2-2-2013
21453046@unknown@formal@none@1@S@But when the dollar rises against major foreign currencies, as it did for much of this year, the dollar value of these funds declines.@@@@1@24@@oe@2-2-2013
21453047@unknown@formal@none@1@S@All three funds posted negative returns for the year to date.@@@@1@11@@oe@2-2-2013
21453048@unknown@formal@none@1@S@Of the funds that fared the worst in the post-Oct. 13 week, two are heavily invested in airlines stocks, which led the market slide following problems with financing for the UAL Corp. buy-out plan.@@@@1@34@@oe@2-2-2013
21453049@unknown@formal@none@1@S@Reflecting airline takeover activity, however, both the Fidelity Select Air Transportation Portfolio and the National Aviation & Technology fund posted better-than-average returns for the the year to date: 30.09% for the Fidelity Air Transportation fund and a whopping 47.24% for National Aviation & Technology.@@@@1@44@@oe@2-2-2013
21453050@unknown@formal@none@1@S@The small drop in equity funds in general in the latest week may not necessarily be a good sign, said A. Michael Lipper, president of Lipper Analytical.@@@@1@27@@oe@2-2-2013
21453051@unknown@formal@none@1@S@Noting that equity funds are up nearly 60% from their post-crash low on Dec. 3, 1987, he said that what happened last week "may not be enough of an adjustment.@@@@1@30@@oe@2-2-2013
21453052@unknown@formal@none@1@S@There's either more to come or an extremely long period of dullness."@@@@1@12@@oe@2-2-2013
21453053@unknown@formal@none@1@S@But investors don't seem to think so.@@@@1@7@@oe@2-2-2013
21453054@unknown@formal@none@1@S@Several big mutual fund groups said last week that cash flows into stock funds were heavier than usual after heavy outflows on the 13th.@@@@1@24@@oe@2-2-2013
21453055@unknown@formal@none@1@S@Vanguard Group said it had a more than $50 million net inflow into its stock funds last week.@@@@1@18@@oe@2-2-2013
21453056@unknown@formal@none@1@S@"There certainly hasn't been a panic reaction," said Steven Norwitz, a vice president at T. Rowe Price Associates.@@@@1@18@@oe@2-2-2013
21453057@unknown@formal@none@1@S@"People showed some staying power and, in fact, interest in buying equities."@@@@1@12@@oe@2-2-2013
21453058@unknown@formal@none@1@S@Source: Lipper Analytical Services Inc.@@@@1@5@@oe@2-2-2013
21453059@unknown@formal@none@1@S@*Not counting dividends@@@@1@3@@oe@2-2-2013
21453060@unknown@formal@none@1@S@**With dividends reinvested@@@@1@3@@oe@2-2-2013
21453061@unknown@formal@none@1@S@Sources: Lipper Analytical Services Inc.; Standard & Poor's Corp.@@@@1@9@@oe@2-2-2013
21454001@unknown@formal@none@1@S@Guardian Royal Exchange Assurance PLC, a major British composite insurer, said it is taking a stake in Nationwide Anglia Building Society's estate agency business as part of a plan to create a range of commercial linkages in the U.K. and Europe.@@@@1@41@@oe@2-2-2013
21454002@unknown@formal@none@1@S@Officials declined to disclose the value of the transaction or the exact stake that GRE will hold in Nationwide Anglia Estate Agents.@@@@1@22@@oe@2-2-2013
21454003@unknown@formal@none@1@S@But the companies said that Nationwide Anglia Estate Agents will market GRE life insurance, pension and investment products through its more than 1,000 retail outlets in the U.K.@@@@1@28@@oe@2-2-2013
21454004@unknown@formal@none@1@S@Besides the marketing agreement, GRE said Nationwide Anglia has agreed to develop life insurance products with the composite insurer.@@@@1@19@@oe@2-2-2013
21455001@unknown@formal@none@1@S@Sitting at the bar of the Four Seasons restaurant, architect William McDonough seems oblivious to the glamorous clientele and the elegant setting.@@@@1@22@@oe@2-2-2013
21455002@unknown@formal@none@1@S@He is ogling the curtains rippling above the ventilation ducts.@@@@1@10@@oe@2-2-2013
21455003@unknown@formal@none@1@S@"Look how much air is moving around!" he says.@@@@1@9@@oe@2-2-2013
21455004@unknown@formal@none@1@S@"The ventilation here is great!"@@@@1@5@@oe@2-2-2013
21455005@unknown@formal@none@1@S@You may be hearing more about the 38-year-old Mr. McDonough and his preoccupation with clean air.@@@@1@16@@oe@2-2-2013
21455006@unknown@formal@none@1@S@After years of relative obscurity, he is starting to attract notice for the ecological as well as the aesthetic quality of his architecture.@@@@1@23@@oe@2-2-2013
21455007@unknown@formal@none@1@S@Mr. McDonough believes that the well-being of the planet depends on such stratagems as opening windows to cut indoor air pollution, tacking down carpets instead of using toxic glues, and avoiding mahogany, which comes from endangered rain forests.@@@@1@38@@oe@2-2-2013
21455008@unknown@formal@none@1@S@He has put some of his aesthetic ideas into practice with his design of the four-star Quilted Giraffe restaurant -- "architecturally impeccable," Progressive Architecture magazine called it -- and his remodeling of Paul Stuart, the Madison Avenue clothing store.@@@@1@39@@oe@2-2-2013
21455009@unknown@formal@none@1@S@He has designed furniture and homes as well as commercial and office space.@@@@1@13@@oe@2-2-2013
21455010@unknown@formal@none@1@S@He is now designing a Broadway stage set for a show by the band Kid Creole and the Coconuts.@@@@1@19@@oe@2-2-2013
21455011@unknown@formal@none@1@S@What really stirs his muse, though, is aerobic architecture.@@@@1@9@@oe@2-2-2013
21455012@unknown@formal@none@1@S@Now the question is: Is Poland ready for it?@@@@1@9@@oe@2-2-2013
21455013@unknown@formal@none@1@S@Mr. McDonough is about to tackle his biggest clean-air challenge yet, the proposed Warsaw Trade Center in Poland, the first such center in Eastern Europe.@@@@1@25@@oe@2-2-2013
21455014@unknown@formal@none@1@S@The project has already acquired a certain New York cachet.@@@@1@10@@oe@2-2-2013
21455015@unknown@formal@none@1@S@Bloomingdale's plans to sell a foot-tall chocolate model of the center during the holidays.@@@@1@14@@oe@2-2-2013
21455016@unknown@formal@none@1@S@Some of the sales proceeds will go to the Design Industries Foundation for AIDS.@@@@1@14@@oe@2-2-2013
21455017@unknown@formal@none@1@S@A cake topped with a replica of the center will be auctioned at an AIDS benefit at Sotheby's in December.@@@@1@20@@oe@2-2-2013
21455018@unknown@formal@none@1@S@If Mr. McDonough's plans get executed, as much of the Polish center as possible will be made from aluminum, steel and glass recycled from Warsaw's abundant rubble.@@@@1@27@@oe@2-2-2013
21455019@unknown@formal@none@1@S@A 20-story mesh spire will stand atop 50 stories of commercial space.@@@@1@12@@oe@2-2-2013
21455020@unknown@formal@none@1@S@Solar-powered batteries will make the spire glow.@@@@1@7@@oe@2-2-2013
21455021@unknown@formal@none@1@S@The windows will open.@@@@1@4@@oe@2-2-2013
21455022@unknown@formal@none@1@S@The carpets won't be glued down, and walls will be coated with nontoxic finishes.@@@@1@14@@oe@2-2-2013
21455023@unknown@formal@none@1@S@To the extent that the $150 million budget will allow it, Mr. McDonough will rely on solid wood, rather than plywood or particle board, to limit the emission of formaldehyde.@@@@1@30@@oe@2-2-2013
21455024@unknown@formal@none@1@S@If Mr. McDonough has his way, the Poles will compensate for the trade center's emissions of carbon dioxide, a prime suspect in the global atmospheric warming many scientists fear.@@@@1@29@@oe@2-2-2013
21455025@unknown@formal@none@1@S@The Poles would plant a 10-square-mile forest somewhere in the country at a cost of $150,000, with the center's developer footing the bill.@@@@1@23@@oe@2-2-2013
21455026@unknown@formal@none@1@S@The news hasn't exactly moved others in Mr. McDonough's profession to become architectural Johnny Appleseeds.@@@@1@15@@oe@2-2-2013
21455027@unknown@formal@none@1@S@All architects want to be aware of the ecological consequences of their work, says John Burgee, whose New York firm is designing the redevelopment of Times Square, "but we can't all carry it to that extreme."@@@@1@36@@oe@2-2-2013
21455028@unknown@formal@none@1@S@Karen Nichols, senior associate at Michael Graves's architecture firm in Princeton, N.J., says: "We're really at the mercy of what the construction industry can and will do readily."@@@@1@28@@oe@2-2-2013
21455029@unknown@formal@none@1@S@Mr. McDonough responds: "I'm asking people to broaden their agendas."@@@@1@10@@oe@2-2-2013
21455030@unknown@formal@none@1@S@The son of a Seagram's executive who was stationed in many countries around the world, Mr. McDonough was born in Tokyo and attended 19 schools in places ranging from Hong Kong to Shaker Heights, Ohio, before entering Dartmouth College.@@@@1@39@@oe@2-2-2013
21455031@unknown@formal@none@1@S@He earned a master's degree in architecture from Yale.@@@@1@9@@oe@2-2-2013
21455032@unknown@formal@none@1@S@His interest in the natural environment dates from his youth.@@@@1@10@@oe@2-2-2013
21455033@unknown@formal@none@1@S@He and his father still spend time each summer fly-fishing for salmon in Iceland.@@@@1@14@@oe@2-2-2013
21455034@unknown@formal@none@1@S@Living in Hong Kong, he says, made him sensitive to the limits on food, power and water supplies.@@@@1@18@@oe@2-2-2013
21455035@unknown@formal@none@1@S@At his first school in the U.S. he was thought a little strange for shutting off open water taps and admonishing his schoolmates to take only brief showers.@@@@1@28@@oe@2-2-2013
21455036@unknown@formal@none@1@S@He and a Dartmouth roommate established a company that restored three hydroelectric power plants in Vermont.@@@@1@16@@oe@2-2-2013
21455037@unknown@formal@none@1@S@At Yale, he designed one of the first solarheated houses to be built in Ireland.@@@@1@15@@oe@2-2-2013
21455038@unknown@formal@none@1@S@Mr. McDonough's first professional project fully to reflect his environmental ardor was his 1986 design for the headquarters of the Environmental Defense Fund in New York.@@@@1@26@@oe@2-2-2013
21455039@unknown@formal@none@1@S@The offices took 10,000 square feet of a building with 14-foot ceilings and big, operable windows.@@@@1@16@@oe@2-2-2013
21455040@unknown@formal@none@1@S@Since the 1970s energy crisis, some efforts to conserve energy by sealing buildings have had an unintended side effect: high indoor pollution.@@@@1@22@@oe@2-2-2013
21455041@unknown@formal@none@1@S@To reduce it at the fund's building, workers rubbed beeswax instead of polyurethane on the floors in the executive director's office.@@@@1@21@@oe@2-2-2013
21455042@unknown@formal@none@1@S@Jute, rather than a synthetic material, lies under the tacked-down carpets, and the desks are of wood and granite instead of plastic.@@@@1@22@@oe@2-2-2013
21455043@unknown@formal@none@1@S@The budget was only $400,000.@@@@1@5@@oe@2-2-2013
21455044@unknown@formal@none@1@S@"Athens with Spartan means," Mr. McDonough says.@@@@1@7@@oe@2-2-2013
21455045@unknown@formal@none@1@S@The fund's lawyers work in an Athenian grove of potted trees.@@@@1@11@@oe@2-2-2013
21455046@unknown@formal@none@1@S@Economists and administrators sit along a "boulevard" with street lamps and ficus trees.@@@@1@13@@oe@2-2-2013
21455047@unknown@formal@none@1@S@In offices, triphosphorous bulbs simulate daylight.@@@@1@6@@oe@2-2-2013
21455048@unknown@formal@none@1@S@Offices with outside windows have inside windows, too, to let in more real daylight.@@@@1@14@@oe@2-2-2013
21455049@unknown@formal@none@1@S@"We proved a healthy office doesn't cost more," says Frederic Krupp, executive director of the fund.@@@@1@16@@oe@2-2-2013
21455050@unknown@formal@none@1@S@It "really looks beautiful and is very light," says Ann Hornaday, a free-lance writer who has visited the office for lunch meetings.@@@@1@22@@oe@2-2-2013
21455051@unknown@formal@none@1@S@But, she says, "I guess I didn't really notice the trees.@@@@1@11@@oe@2-2-2013
21455052@unknown@formal@none@1@S@Maybe they were hidden by all the people."@@@@1@8@@oe@2-2-2013
21455053@unknown@formal@none@1@S@Neither the Quilted Giraffe nor the Paul Stuart renovation reflects much of Mr. McDonough's environmental concern.@@@@1@16@@oe@2-2-2013
21455054@unknown@formal@none@1@S@The restaurant was conceived as a sparkling, crystalline "geode."@@@@1@9@@oe@2-2-2013
21455055@unknown@formal@none@1@S@It makes extensive use of stainless steel, silver and aluminum that sets off black granite table tops and a gray terrazzo with zinc-strip floors.@@@@1@24@@oe@2-2-2013
21455056@unknown@formal@none@1@S@To more than replace the wood from two English oaks used for paneling at Paul Stuart, however, Mr. McDonough and friends planted 1,000 acorns around the country.@@@@1@27@@oe@2-2-2013
21455057@unknown@formal@none@1@S@The ambitious Warsaw project still awaits approval by city officials.@@@@1@10@@oe@2-2-2013
21455058@unknown@formal@none@1@S@Its developer is a Polish American, Sasha Muniak.@@@@1@8@@oe@2-2-2013
21455059@unknown@formal@none@1@S@He had worked with Mr. McDonough on an earlier project and recruited him as architect for the trade center.@@@@1@19@@oe@2-2-2013
21455060@unknown@formal@none@1@S@The center will provide space for computer hardware and facsimile and other telecommunications equipment, not readily accessible in Poland now, for a growing number of Westerners doing business in Eastern Europe.@@@@1@31@@oe@2-2-2013
21455061@unknown@formal@none@1@S@Mr. McDonough thinks of the center as the "Eiffel Tower of Warsaw" and "a symbol of the resurgence of Poland."@@@@1@20@@oe@2-2-2013
21455062@unknown@formal@none@1@S@If any nation can use environmentally benign architecture, it is Poland.@@@@1@11@@oe@2-2-2013
21455063@unknown@formal@none@1@S@Jessica Mathews, vice president of World Resources Institute in Washington, D.C., says that perhaps a quarter of Poland's soil is too contaminated for safe farming because of air pollution.@@@@1@29@@oe@2-2-2013
21455064@unknown@formal@none@1@S@The pollution is also killing forests and destroying buildings that date back to the Middle Ages.@@@@1@16@@oe@2-2-2013
21455065@unknown@formal@none@1@S@The future of the forest remains uncertain.@@@@1@7@@oe@2-2-2013
21455066@unknown@formal@none@1@S@Mr. Muniak's company, Balag Ltd., has agreed to set aside the money to plant and maintain it, but discussions are still going on over where to place it and how to ensure that it will be maintained.@@@@1@37@@oe@2-2-2013
21455067@unknown@formal@none@1@S@After all, Mr. Muniak says, "in Poland there aren't too many people worried about the environment.@@@@1@16@@oe@2-2-2013
21455068@unknown@formal@none@1@S@They're more worried about bread on the table.@@@@1@8@@oe@2-2-2013
21456001@unknown@formal@none@1@S@Pittston Co.'s third-quarter net income plunged 79%, reflecting the impact of a prolonged and bitter labor strike at its coal operations.@@@@1@21@@oe@2-2-2013
21456002@unknown@formal@none@1@S@Net sank to $3.1 million, or eight cents a share, including $789,000, or two cents a share, reflecting a tax-loss carry-forward.@@@@1@21@@oe@2-2-2013
21456003@unknown@formal@none@1@S@In the year-ago quarter, net totaled $14.7 million, or 38 cents a share, including $4 million, or 10 cents a share, reflecting a tax-loss carry-forward.@@@@1@25@@oe@2-2-2013
21456004@unknown@formal@none@1@S@Revenue slipped 0.7% to $395.3 million from $398.3 million.@@@@1@9@@oe@2-2-2013
21456005@unknown@formal@none@1@S@Pittston also owns Brink's Inc., the security service, and Burlington Air Express, the air-freight concern.@@@@1@15@@oe@2-2-2013
21456006@unknown@formal@none@1@S@In addition to expected losses tied to the labor strike, the coal group has spent almost $20 million since the strike began for security, the company said.@@@@1@27@@oe@2-2-2013
21456007@unknown@formal@none@1@S@As a result, the group's third-quarter loss widened to $9.8 million from the second quarter's $3.6 million.@@@@1@17@@oe@2-2-2013
21456008@unknown@formal@none@1@S@Pittston continues to hire replacement workers, the company said.@@@@1@9@@oe@2-2-2013
21456009@unknown@formal@none@1@S@Burlington's operating profit grew to $9.2 million from $3.8 million a year earlier, Pittston said.@@@@1@15@@oe@2-2-2013
21456010@unknown@formal@none@1@S@While "the tone" of domestic and international air-freight markets remains sound, seasonal factors are likely to hinder Burlington Air from matching third-quarter results in the fourth quarter, Pittston said.@@@@1@29@@oe@2-2-2013
21456011@unknown@formal@none@1@S@Brink's operating profit was about flat with the year-earlier period, reflecting continued pricing and cost pressures.@@@@1@16@@oe@2-2-2013
21456012@unknown@formal@none@1@S@In New York Stock Exchange composite trading Friday, Pittston closed at $18.50 a share, down 12.5 cents.@@@@1@17@@oe@2-2-2013
21457001@unknown@formal@none@1@S@Doesn't anybody here want to win this mayor's race?@@@@1@9@@oe@2-2-2013
21457002@unknown@formal@none@1@S@As they stumble and bumble toward election day two weeks from tomorrow, both Democrat David Dinkins and Republican Rudolph Giuliani are in trouble.@@@@1@23@@oe@2-2-2013
21457003@unknown@formal@none@1@S@Mr. Dinkins, the Manhattan borough president, can afford more bumbling and stumbling because he holds a comfortable 20-point lead in most of the public-opinion polls.@@@@1@25@@oe@2-2-2013
21457004@unknown@formal@none@1@S@But, in the past 10 days, he has taken a series of body blows to his pride and his reputation that could adversely affect his ability to govern this tumultuous city should he become New York's first black mayor.@@@@1@39@@oe@2-2-2013
21457005@unknown@formal@none@1@S@Ordinarily, a clever opponent would find a way to capitalize on the other side's misfortunes.@@@@1@15@@oe@2-2-2013
21457006@unknown@formal@none@1@S@But Mr. Giuliani, a celebrated prosecutor, has had difficulty switching from his crime-busting, finger-pointing mode to a political stance that suggests he might know something about running this big, troubled city.@@@@1@31@@oe@2-2-2013
21457007@unknown@formal@none@1@S@And now, at the crucial moment, he's running out of money.@@@@1@11@@oe@2-2-2013
21457008@unknown@formal@none@1@S@This is the nation's biggest city and, traditionally, its mayor is the nation's best-known urban politician.@@@@1@16@@oe@2-2-2013
21457009@unknown@formal@none@1@S@Democrats hoped that Mr. Dinkins could become a highly visible national leader.@@@@1@12@@oe@2-2-2013
21457010@unknown@formal@none@1@S@Republicans figured that in Mr. Giuliani, the nation's best-known prosecutor, they had a chance for a huge upset in the heart of Democratic territory and that they would pick up a new political star.@@@@1@34@@oe@2-2-2013
21457011@unknown@formal@none@1@S@But it hasn't worked out that way.@@@@1@7@@oe@2-2-2013
21457012@unknown@formal@none@1@S@"Dinkins is a decent but sloppy guy," says David Garth, veteran campaign consultant here who has always worked for Mayor Edward Koch, defeated by Mr. Dinkins in the Sept. 12 Democratic primary.@@@@1@32@@oe@2-2-2013
21457013@unknown@formal@none@1@S@"The alternative -- Giuliani -- is ghastly."@@@@1@7@@oe@2-2-2013
21457014@unknown@formal@none@1@S@"I guess we'll reluctantly go ahead and do it, vote for Dinkins," says Richard Wade, a politically active professor who supported Richard Ravitch, an also-ran in the Democratic primary.@@@@1@29@@oe@2-2-2013
21457015@unknown@formal@none@1@S@"There's nothing on the other side."@@@@1@6@@oe@2-2-2013
21457016@unknown@formal@none@1@S@"We're picking up steam," insists Roger Ailes, Mr. Giuliani's media consultant, whose last big campaign helped put George Bush in the White House.@@@@1@23@@oe@2-2-2013
21457017@unknown@formal@none@1@S@He adds: "It just hasn't gotten down to the engine room yet."@@@@1@12@@oe@2-2-2013
21457018@unknown@formal@none@1@S@But the steam may never reach the engine room.@@@@1@9@@oe@2-2-2013
21457019@unknown@formal@none@1@S@For, just as Mr. Giuliani latches on to an issue that has Mr. Dinkins reeling, his campaign desperately needs cash to keep Mr. Ailes's commercials on the air beyond Wednesday or Thursday.@@@@1@32@@oe@2-2-2013
21457020@unknown@formal@none@1@S@To help out this week, the White House is dispatching chief of staff John Sununu and three Cabinet members -- HUD's Jack Kemp, Transportation's Samuel Skinner and Treasury's Nicholas Brady, according to Peter Powers, the Giuliani campaign manager.@@@@1@38@@oe@2-2-2013
21457021@unknown@formal@none@1@S@For Republicans who began this campaign with such high hopes, all of this is deeply frustrating.@@@@1@16@@oe@2-2-2013
21457022@unknown@formal@none@1@S@Historically, New York is almost always in trouble.@@@@1@8@@oe@2-2-2013
21457023@unknown@formal@none@1@S@But the trouble it faces now under Democratic rule seems bigger and more daunting than anything it has faced in the past.@@@@1@22@@oe@2-2-2013
21457024@unknown@formal@none@1@S@This year, the city faces a budget deficit that could become even bigger next year.@@@@1@15@@oe@2-2-2013
21457025@unknown@formal@none@1@S@And hardly surprising, many residents trying to cope with the city's other problems are constantly on edge, one ethnic group scrapping with another.@@@@1@23@@oe@2-2-2013
21457026@unknown@formal@none@1@S@"People weren't so happy in the 1930s," says Thomas Lessner, another local professor and the biographer of the legendary Fiorello LaGuardia, the city's fusion mayor who built a coalition Mr. Giuliani hopes to emulate.@@@@1@34@@oe@2-2-2013
21457027@unknown@formal@none@1@S@"But, at least, back then they didn't generally direct their anger at each other."@@@@1@14@@oe@2-2-2013
21457028@unknown@formal@none@1@S@The 62-year-old Mr. Dinkins, an ex-Marine, has served as the city clerk and as Manhattan borough president, a job with limited executive responsibilities@@@@1@23@@oe@2-2-2013
21457029@unknown@formal@none@1@S@("I defy you to come up with one major accomplishment of David Dinkins," says Mr. Giuliani.)@@@@1@16@@oe@2-2-2013
21457030@unknown@formal@none@1@S@He defeated the contentious Mr. Koch in the Democratic primary partly because he seemed to offer hope he could heal the city's racial and ethnic wounds.@@@@1@26@@oe@2-2-2013
21457031@unknown@formal@none@1@S@His general-election campaign is almost Reagan-like, all muted pictures and comforting words.@@@@1@12@@oe@2-2-2013
21457032@unknown@formal@none@1@S@His theme is unity, decency, humanity, bringing New York together again.@@@@1@11@@oe@2-2-2013
21457033@unknown@formal@none@1@S@Both candidates are negotiating about holding debates, but Mr. Dinkins is widely seen as the major obstacle for scheduling them.@@@@1@20@@oe@2-2-2013
21457034@unknown@formal@none@1@S@The 45-year-old Mr. Giuliani has run a negative campaign to pick up votes leaning to Mr. Dinkins.@@@@1@17@@oe@2-2-2013
21457035@unknown@formal@none@1@S@"He's got to get Dinkins's negatives up," says Lee Miringoff, director of the Marist College Institute of Public Opinion.@@@@1@19@@oe@2-2-2013
21457036@unknown@formal@none@1@S@"But our polls show voters don't like the attack stuff.@@@@1@10@@oe@2-2-2013
21457037@unknown@formal@none@1@S@Why, even 20% of the Republican vote is going to Dinkins."@@@@1@11@@oe@2-2-2013
21457038@unknown@formal@none@1@S@"It's assault-weapons politics," says John Siegal, Mr. Dinkins's issues director, insisting there is a strong racist undertone to the Giuliani effort.@@@@1@21@@oe@2-2-2013
21457039@unknown@formal@none@1@S@For the Giuliani forces, it's a conundrum.@@@@1@7@@oe@2-2-2013
21457040@unknown@formal@none@1@S@On the one hand, Mr. Giuliani wants to cut into Mr. Dinkins's credibility.@@@@1@13@@oe@2-2-2013
21457041@unknown@formal@none@1@S@On the other, he seeks to convince voters he's the new Fiorello LaGuardia -- affable, good-natured and ready to lead New York out of the mess it's in.@@@@1@28@@oe@2-2-2013
21457042@unknown@formal@none@1@S@It hasn't helped that he's waffled on abortion and gay rights, sought the support of both the Liberal and Conservative parties (he won the Liberal endorsement) and that he turned to comedian Jackie Mason for help with Jewish voters.@@@@1@39@@oe@2-2-2013
21457043@unknown@formal@none@1@S@Mr. Mason left the campaign after telling reporters Mr. Dinkins is "a fancy 'shvartzer' with a moustache."@@@@1@17@@oe@2-2-2013
21457044@unknown@formal@none@1@S@Shvartzer is a derogatory Yiddish word for a black person.@@@@1@10@@oe@2-2-2013
21457045@unknown@formal@none@1@S@Mr. Dinkins concedes nothing in his ability to stumble and bumble.@@@@1@11@@oe@2-2-2013
21457046@unknown@formal@none@1@S@He can match Jackie Mason with his own Robert "Sonny" Carson, an angry street organizer who was convicted of kidnapping in 1974.@@@@1@22@@oe@2-2-2013
21457047@unknown@formal@none@1@S@The Dinkins campaign paid Mr. Carson close to $10,000 to get out the vote on primary-election day.@@@@1@17@@oe@2-2-2013
21457048@unknown@formal@none@1@S@Paper work on how it was spent is incomplete.@@@@1@9@@oe@2-2-2013
21457049@unknown@formal@none@1@S@Mr. Carson has been charged with being anti-Semitic.@@@@1@8@@oe@2-2-2013
21457050@unknown@formal@none@1@S@Asked about that the other day, he replied, "Anti-Semitic?@@@@1@9@@oe@2-2-2013
21457051@unknown@formal@none@1@S@I'm anti-white."@@@@1@2@@oe@2-2-2013
21457052@unknown@formal@none@1@S@More troubling for Mr. Dinkins is his record in personal accounting.@@@@1@11@@oe@2-2-2013
21457053@unknown@formal@none@1@S@It began in 1973, when he was being considered for deputy mayor, and a routine check unearthed the extraordinary fact that he hadn't paid his income tax for the previous four years.@@@@1@32@@oe@2-2-2013
21457054@unknown@formal@none@1@S@"I was always going to do it tomorrow," he explained at the time.@@@@1@13@@oe@2-2-2013
21457055@unknown@formal@none@1@S@And now he's busily trying to explain an arrangement in which he sold stock in Inner City Broadcasting Co., headed by his old friend and patron, Percy Sutton, to his son, David Dinkins Jr., for $58,000.@@@@1@36@@oe@2-2-2013
21457056@unknown@formal@none@1@S@He had valued the shares at more than $1 million two years earlier.@@@@1@13@@oe@2-2-2013
21457057@unknown@formal@none@1@S@He says he sold the stock to avoid conflict-of-interest problems in his role as a voting member of the city's Board of Estimate.@@@@1@23@@oe@2-2-2013
21457058@unknown@formal@none@1@S@He says his son hasn't paid for the shares.@@@@1@9@@oe@2-2-2013
21457059@unknown@formal@none@1@S@"It looks like serious tax evasion," says Mr. Ailes, the Giuliani media consultant.@@@@1@13@@oe@2-2-2013
21457060@unknown@formal@none@1@S@"It follows the same pattern as his tax returns.@@@@1@9@@oe@2-2-2013
21457061@unknown@formal@none@1@S@He waits to talk about it until after he gets caught."@@@@1@11@@oe@2-2-2013
21457062@unknown@formal@none@1@S@"He simply hasn't explained why something worth a million dollars ended up worth $58,000 two years later," says Mr. Powers, the Giuliani campaign manager.@@@@1@24@@oe@2-2-2013
21457063@unknown@formal@none@1@S@"It's ludicrous for him to suggest it's the difference between the 'breakup' value of the shares and their market value."@@@@1@20@@oe@2-2-2013
21457064@unknown@formal@none@1@S@So far though, no one -- not even former U.S. attorney Giuliani -- has been able to pinpoint just what law Mr. Dinkins has broken or just what tax he has evaded.@@@@1@32@@oe@2-2-2013
21457065@unknown@formal@none@1@S@"The crime goes to character," says Ron Maiorana, a consultant to the Giuliani campaign.@@@@1@14@@oe@2-2-2013
21457066@unknown@formal@none@1@S@"It's serious stuff.@@@@1@3@@oe@2-2-2013
21457067@unknown@formal@none@1@S@He evades and ducks.@@@@1@4@@oe@2-2-2013
21457068@unknown@formal@none@1@S@He's had a history of deception and this is the latest chapter."@@@@1@12@@oe@2-2-2013
21457069@unknown@formal@none@1@S@"It makes people think, maybe this guy isn't so squeaky clean after all," says Mr. Garth, Mayor Koch's media consultant.@@@@1@20@@oe@2-2-2013
21457070@unknown@formal@none@1@S@"The result may turn out to be a lot closer than people think.@@@@1@13@@oe@2-2-2013
21458001@unknown@formal@none@1@S@The long-running scandal surrounding the 1982 collapse of Banco Ambrosiano was reignited by the arrest last week of Rome businessman Flavio Carboni on fraud charges.@@@@1@25@@oe@2-2-2013
21458002@unknown@formal@none@1@S@Rome magistrates accuse Mr. Carboni and several other people of trying to extort 1.2 billion lire ($880,000) from the Vatican in return for documents contained in the briefcase of Roberto Calvi, the Ambrosiano chairman found hanged under London's Blackfriar's Bridge shortly before the bank's collapse.@@@@1@45@@oe@2-2-2013
21458003@unknown@formal@none@1@S@Banco Ambrosiano, which was Italy's largest private-sector bank, collapsed in 1982 with $1.3 billion of debts.@@@@1@16@@oe@2-2-2013
21458004@unknown@formal@none@1@S@Most of the money was lent to a series of shell companies in Panama and Luxembourg that were owned, directly or indirectly, by the Vatican bank.@@@@1@26@@oe@2-2-2013
21458005@unknown@formal@none@1@S@The Vatican, which denies any wrongdoing, paid $250 million to the Milan bank's creditors as a "goodwill gesture" in 1985.@@@@1@20@@oe@2-2-2013
21458006@unknown@formal@none@1@S@Italian news reports said Mr. Carboni and a colleague obtained 1.2 billion lire in checks from a Vatican official, Pavel Hnilica.@@@@1@21@@oe@2-2-2013
21458007@unknown@formal@none@1@S@Italian papers speculated the briefcase contained papers either exonerating the Vatican bank from blame in the scandal, or showing that the bank, known as the Istituto per le Opere di Religione, channeled funds to East bloc groups such as Solidarity in Poland.@@@@1@42@@oe@2-2-2013
21458008@unknown@formal@none@1@S@Neither Mr. Hnilica, Mr. Carboni nor Vatican officials could be reached for comment over the weekend.@@@@1@16@@oe@2-2-2013
21459001@unknown@formal@none@1@S@This business trust company said its board elected Kieran E. Burke, a consultant to Drexel Burnham Lambert Group Inc., as chief executive officer, a new post, and as president.@@@@1@29@@oe@2-2-2013
21459002@unknown@formal@none@1@S@Mr. Burke succeeds Richard D. Manley, who will remain as a consultant to the company.@@@@1@15@@oe@2-2-2013
21459003@unknown@formal@none@1@S@Both men were unavailable to comment.@@@@1@6@@oe@2-2-2013
21459004@unknown@formal@none@1@S@The company also named Michael E. Gellert, a director and a major shareholder, to fill the vacant seat of chairman.@@@@1@20@@oe@2-2-2013
21460001@unknown@formal@none@1@S@Britain's Serious Fraud Office said it will investigate the circumstances surrounding alleged phantom contracts at Ferranti International Signal PLC's International Signal & Control unit.@@@@1@24@@oe@2-2-2013
21460002@unknown@formal@none@1@S@The investigation, which will be coordinated with one already under way in the U.S., follows the discovery of what Ferranti has called a "serious" fraud involving its U.S. subsidiary.@@@@1@29@@oe@2-2-2013
21460003@unknown@formal@none@1@S@International Signal & Control, Lancaster, Pa., a defense-equipment manufacturer, was bought by Ferranti in 1987 for #420 million ($670.3 million).@@@@1@20@@oe@2-2-2013
21460004@unknown@formal@none@1@S@Ferranti has said that it would be forced to write off #185 million against the phantom contracts, reducing its net asset value by more than half.@@@@1@26@@oe@2-2-2013
21460005@unknown@formal@none@1@S@The Serious Fraud Office, a division of London's Metropolitan Police responsible for investigating financial crimes, said its work would take in "allegations of fraud prior to, surrounding and subsequent to the merger."@@@@1@32@@oe@2-2-2013
21460006@unknown@formal@none@1@S@Ferranti said that it welcomes the investigation and that it will "cooperate fully."@@@@1@13@@oe@2-2-2013
21460007@unknown@formal@none@1@S@Derek Alun-Jones, Ferranti's chairman, has said he hoped to pursue legal action against those responsible.@@@@1@15@@oe@2-2-2013
21460008@unknown@formal@none@1@S@The British defense electronics group has said it will sell #100 million in assets and may seek a merger to strengthen itself in the wake of its troubles.@@@@1@28@@oe@2-2-2013
21461001@unknown@formal@none@1@S@Chicago businessmen Bertram M. Lee and Peter Bynoe signed a new agreement to purchase the Denver Nuggets basketball team, but not as principal owners.@@@@1@24@@oe@2-2-2013
21461002@unknown@formal@none@1@S@On Saturday, the partners said the team would be purchased for $54 million by a new group including Comsat Video Enterprises Inc., a unit of Communications Satellite Corp. based here.@@@@1@30@@oe@2-2-2013
21461003@unknown@formal@none@1@S@Comsat Video will pay $17 million for a 62.5% interest, with Messrs. Lee and Bynoe putting up $8 million for a 37.5% stake in the team.@@@@1@26@@oe@2-2-2013
21461004@unknown@formal@none@1@S@Under terms of the sale, Nuggets owner Sidney Shlenker could receive up to $11 million in additional payments from the franchise's future earnings.@@@@1@23@@oe@2-2-2013
21461005@unknown@formal@none@1@S@Messrs. Lee and Bynoe last July announced a deal that would have made them the first black principal owners of a major professional sports franchise.@@@@1@25@@oe@2-2-2013
21461006@unknown@formal@none@1@S@But the deal fell apart last week for lack of financing.@@@@1@11@@oe@2-2-2013
21461007@unknown@formal@none@1@S@Comsat Video is headed by Robert Wussler, who resigned his No. 2 executive post with Turner Broadcasting System Inc. just two weeks ago to take the Comsat position.@@@@1@28@@oe@2-2-2013
21461008@unknown@formal@none@1@S@Comsat Video, which distributes pay-per-view programs to hotel rooms, plans to add Nuggets games to their offerings, as Mr. Turner did successfully with his Atlanta Hawks and Braves sports teams.@@@@1@30@@oe@2-2-2013
21461009@unknown@formal@none@1@S@Messrs. Lee and Bynoe will manage the Nuggets' day-today affairs.@@@@1@10@@oe@2-2-2013
21462001@unknown@formal@none@1@S@Royal Business Group Inc. said it filed suit in federal court here charging Realist Inc. and its directors with violating federal securities laws "by engaging in a scheme to prevent" Royal from acquiring Realist.@@@@1@34@@oe@2-2-2013
21462002@unknown@formal@none@1@S@Royal, which makes and distributes business forms, owns an 8% stake in Realist.@@@@1@13@@oe@2-2-2013
21462003@unknown@formal@none@1@S@Royal contends that Realist failed to disclose material information, including Realist's negotiations to acquire Ammann Laser Technik AG, to stockholders prior to Realist's June 6 annual meeting.@@@@1@27@@oe@2-2-2013
21462004@unknown@formal@none@1@S@Royal's suit contends that the Ammann acquisition was "designed to entrench management and thwart Royal's offer."@@@@1@16@@oe@2-2-2013
21462005@unknown@formal@none@1@S@Royal withdrew its offer to buy Realist, a maker of optical and electronic products based in Menomonee Falls, Wis., for $14.06 a share in July after Realist disclosed the Ammann purchase.@@@@1@31@@oe@2-2-2013
21462006@unknown@formal@none@1@S@The suit seeks "in excess of $350,000 in damages."@@@@1@9@@oe@2-2-2013
21462007@unknown@formal@none@1@S@A Realist official said the company hadn't yet received the full complaint and wouldn't have a response until it had an opportunity to review it.@@@@1@25@@oe@2-2-2013
21463001@unknown@formal@none@1@S@Winnebago Industries Inc., battered by a deepening slowdown in recreational vehicle industry sales, reported a widened fourth-quarter loss and slashed its dividend in half.@@@@1@24@@oe@2-2-2013
21463002@unknown@formal@none@1@S@The Forest City, Iowa, maker of motor homes said it had a loss of $11.3 million, or 46 cents a share, in the quarter ended Aug. 26.@@@@1@27@@oe@2-2-2013
21463003@unknown@formal@none@1@S@A year earlier, the company had a deficit of $1.5 million, or six cents a share.@@@@1@16@@oe@2-2-2013
21463004@unknown@formal@none@1@S@The cut in the dividend to 10 cents a share semiannually, from 20 cents, "would indicate to me they don't see the problems being fixed real quick," said Frank Rolfes, an analyst at Dain Bosworth Inc. in Minneapolis.@@@@1@38@@oe@2-2-2013
21463005@unknown@formal@none@1@S@Indeed, Winnebago said it started "several promotional programs" to spur retail sales in the fall and winter.@@@@1@17@@oe@2-2-2013
21463006@unknown@formal@none@1@S@The year was already shaping up as a difficult one for the recreational vehicle industry, which makes products such as motor homes, travel trailers, folding campers and van conversions.@@@@1@29@@oe@2-2-2013
21463007@unknown@formal@none@1@S@With the exception of van conversions, the industry has seen a decline from 1988's robust sales.@@@@1@16@@oe@2-2-2013
21463008@unknown@formal@none@1@S@But the rate of the decline snowballed in August, with unit sales to dealers for the month down 10.5% from a year earlier, according to the Recreation Vehicle Industry Association.@@@@1@30@@oe@2-2-2013
21463009@unknown@formal@none@1@S@At Winnebago, sales for the quarter fell 6% to $89.5 million from $95.4 million a year earlier.@@@@1@17@@oe@2-2-2013
21463010@unknown@formal@none@1@S@The company attributed the decline to consumers' concern over interest rates and gas prices -- two key expenses for RV buyers.@@@@1@21@@oe@2-2-2013
21463011@unknown@formal@none@1@S@"It's a large-ticket discretionary purchase," said Robert Curran, who follows the industry for Merrill Lynch & Co.@@@@1@17@@oe@2-2-2013
21463012@unknown@formal@none@1@S@"So when there's talk and concern about the economy, it's not unreasonable for a portion of the buying public to defer purchases."@@@@1@22@@oe@2-2-2013
21463013@unknown@formal@none@1@S@Mr. Curran expects industry RV sales for all of 1989 to fall about 5% from 1988, when sales of 427,300 units were the highest since 1978.@@@@1@26@@oe@2-2-2013
21463014@unknown@formal@none@1@S@And he said the weakness could continue in the first half of next year.@@@@1@14@@oe@2-2-2013
21463015@unknown@formal@none@1@S@But he said the industry has "a good decade ahead," particularly if aging baby boomers fulfill the industry's dreams by buying RVs.@@@@1@22@@oe@2-2-2013
21463016@unknown@formal@none@1@S@Winnebago was hit especially hard in the latest downturn because unit sales in its bread-and-butter motor home business tumbled 25% industrywide in August, and 10.4% in the first eight months of the year.@@@@1@33@@oe@2-2-2013
21463017@unknown@formal@none@1@S@The company said it also suffered in the quarter from incentive programs, losses from discontinuing a motor home line and costs of developing a new commercial vehicle, among other things.@@@@1@30@@oe@2-2-2013
21463018@unknown@formal@none@1@S@The news sent Winnebago stock falling 62.5 cents, to $5.25, in New York Stock Exchange composite trading-a 52-week low.@@@@1@19@@oe@2-2-2013
21463019@unknown@formal@none@1@S@The dividend cut will prove most costly for John K. Hanson, Winnebago's founder and chairman.@@@@1@15@@oe@2-2-2013
21463020@unknown@formal@none@1@S@Based on his control of about 45% of Winnebago's 24.7 million shares, his annual dividend income would be cut to about $2.2 million from $4.4 million.@@@@1@26@@oe@2-2-2013
21463021@unknown@formal@none@1@S@For the year, Winnebago had a loss of $4.7 million, or 19 cents a share, following profit of $2.7 million, or 11 cents a share, a year earlier.@@@@1@28@@oe@2-2-2013
21463022@unknown@formal@none@1@S@Sales rose 2% to $437.5 million from $430.3 million.@@@@1@9@@oe@2-2-2013
21464001@unknown@formal@none@1@S@Bullish bond market sentiment is on the rise again.@@@@1@9@@oe@2-2-2013
21464002@unknown@formal@none@1@S@As the government prepares to release the next batch of economic reports, the consensus among economists and money managers is that the news will be negative.@@@@1@26@@oe@2-2-2013
21464003@unknown@formal@none@1@S@And that, they say, will be good for bonds.@@@@1@9@@oe@2-2-2013
21464004@unknown@formal@none@1@S@"Recent data have indicated somewhat weaker economic activity," said Elliott Platt, director of economic research at Donaldson, Lufkin & Jenrette Securities.@@@@1@21@@oe@2-2-2013
21464005@unknown@formal@none@1@S@Mr. Platt is advising clients that "the near-term direction of bond prices is likely to remain upward."@@@@1@17@@oe@2-2-2013
21464006@unknown@formal@none@1@S@Analysts insist that even without help from a shaky stock market, which provided a temporary boost for bonds during the Oct. 13 stock market plunge, bond prices will start to climb on the prospects that the Federal Reserve will allow interest rates to move lower in the coming weeks.@@@@1@49@@oe@2-2-2013
21464007@unknown@formal@none@1@S@That would be comforting to fixed-income investors, many of whom were badly burned in the third quarter by incorrectly assuming that the Fed would ease.@@@@1@25@@oe@2-2-2013
21464008@unknown@formal@none@1@S@Investors rushed to buy bonds during the summer as prices soared on speculation that interest rates would continue to fall.@@@@1@20@@oe@2-2-2013
21464009@unknown@formal@none@1@S@But when it became clear that rates had stabilized and that the Fed's credit-easing policy was on hold, bond yields jumped and prices tumbled.@@@@1@24@@oe@2-2-2013
21464010@unknown@formal@none@1@S@Long-term bonds have performed erratically this year.@@@@1@7@@oe@2-2-2013
21464011@unknown@formal@none@1@S@For example, a group of long-term Treasury bonds tracked by Merrill Lynch & Co. produced a total return of 1% in the first quarter, 12.45% in the second quarter and -0.06% in the third quarter.@@@@1@35@@oe@2-2-2013
21464012@unknown@formal@none@1@S@Total return is price changes plus interest income.@@@@1@8@@oe@2-2-2013
21464013@unknown@formal@none@1@S@Now some investment analysts insist that the economic climate has turned cold and gloomy, and they are urging clients to buy bonds before the rally begins.@@@@1@26@@oe@2-2-2013
21464014@unknown@formal@none@1@S@Among other things, economists note that consumer spending is slowing, corporate profit margins are being squeezed, business confidence is slipping and construction and manufacturing industries are depressed.@@@@1@27@@oe@2-2-2013
21464015@unknown@formal@none@1@S@At the same time, last week's consumer price index showed that inflation is moderating.@@@@1@14@@oe@2-2-2013
21464016@unknown@formal@none@1@S@Add it all up and it means "that the Fed has a little leeway to ease its credit policy stance without the risk of rekindling inflation," said Norman Robertson, chief economist at Mellon Bank Corp., Pittsburgh.@@@@1@36@@oe@2-2-2013
21464017@unknown@formal@none@1@S@"I think we will see a federal funds rate of close to 8 1/2% in the next two weeks and 8% by year end."@@@@1@24@@oe@2-2-2013
21464018@unknown@formal@none@1@S@The federal funds rate, which banks charge each other on overnight loans, is considered an early signal of changes in the Fed's credit policy.@@@@1@24@@oe@2-2-2013
21464019@unknown@formal@none@1@S@Economists generally agree that the rate was lowered by the Fed from around 9%, where it had been since July, to about 8 3/4% in early October on the heels of a weak employment report.@@@@1@35@@oe@2-2-2013
21464020@unknown@formal@none@1@S@Although the rate briefly drifted even lower following the stock market sell-off that occurred Oct. 13, it ended Friday at about 8 11/16%.@@@@1@23@@oe@2-2-2013
21464021@unknown@formal@none@1@S@James Kochan, chief fixed-income strategist at Merrill Lynch, is touting shorter-term securities, which he says should benefit more quickly than longer-term bonds as interest rates fall.@@@@1@26@@oe@2-2-2013
21464022@unknown@formal@none@1@S@"Given our forecast for lower rates, purchases made now should prove quite rewarding before year end," he said.@@@@1@18@@oe@2-2-2013
21464023@unknown@formal@none@1@S@Mr. Kochan also likes long-term, investment-grade corporate bonds and long-term Treasurys.@@@@1@11@@oe@2-2-2013
21464024@unknown@formal@none@1@S@He says these bonds should appreciate in value as some investors, reacting to the recent turmoil in the stock and high-yield junk bond markets, seek safer securities.@@@@1@27@@oe@2-2-2013
21464025@unknown@formal@none@1@S@"If the {Tennessee Valley Authority} sale is any guide, there appears to be good demand for top-quality, long-term paper from both domestic and overseas accounts," he said.@@@@1@27@@oe@2-2-2013
21464026@unknown@formal@none@1@S@TVA, in its first public debt offering in 15 years, sold $4 billion of long-term and intermediate-term securities last week.@@@@1@20@@oe@2-2-2013
21464027@unknown@formal@none@1@S@Strong investor demand prompted the utility to boost the size of the issue from $3 billion.@@@@1@16@@oe@2-2-2013
21464028@unknown@formal@none@1@S@TVA, which operates one of the nation's largest electric power systems, is a corporation owned by the federal government.@@@@1@19@@oe@2-2-2013
21464029@unknown@formal@none@1@S@But persuading investors to buy bonds may be especially tough this week, when the U.S. government will auction more than $30 billion of new securities.@@@@1@25@@oe@2-2-2013
21464030@unknown@formal@none@1@S@Today, the Treasury Department will sell $15.6 billion of three-month and six-month bills at the regular weekly auction.@@@@1@18@@oe@2-2-2013
21464031@unknown@formal@none@1@S@Tomorrow, the Treasury will sell $10 billion of two-year notes.@@@@1@10@@oe@2-2-2013
21464032@unknown@formal@none@1@S@Resolution Funding Corp., known as Refcorp, a division of a new government agency created to bail out the nation's troubled savings and loan associations, will hold its first bond auction Wednesday, when it will sell $4.5 billion of 30-year bonds.@@@@1@40@@oe@2-2-2013
21464033@unknown@formal@none@1@S@All of this comes ahead of the government's big quarterly refunding of the federal debt, which takes place sometime in November.@@@@1@21@@oe@2-2-2013
21464034@unknown@formal@none@1@S@So far, investors haven't shown much appetite for Refcorp's initial bond offering.@@@@1@12@@oe@2-2-2013
21464035@unknown@formal@none@1@S@Roger Early, a portfolio manager at Federated Investors Corp., said that yields on the so-called bailout bonds aren't high enough to attract his attention.@@@@1@24@@oe@2-2-2013
21464036@unknown@formal@none@1@S@"Why should I bother with something that's an unknown for a very small pickup in yield?" he said.@@@@1@18@@oe@2-2-2013
21464037@unknown@formal@none@1@S@"I'm not going to jump on them the first day they come out."@@@@1@13@@oe@2-2-2013
21464038@unknown@formal@none@1@S@He seems to be typical of many professional money managers.@@@@1@10@@oe@2-2-2013
21464039@unknown@formal@none@1@S@When the size of the Refcorp offering was announced last week and when-issued trading activity began, the bailout bonds were yielding about 1/20 percentage point more than the Treasury's benchmark 30-year bond.@@@@1@32@@oe@2-2-2013
21464040@unknown@formal@none@1@S@On Friday, the yield was quoted at about 1/4 percentage point higher than the benchmark bond, an indication of weak demand.@@@@1@21@@oe@2-2-2013
21464041@unknown@formal@none@1@S@Some economists believe that yields on all Treasury securities may rise this week as the market struggles to absorb the new supply.@@@@1@22@@oe@2-2-2013
21464042@unknown@formal@none@1@S@But once the new securities are digested, they expect investors to focus on the weak economic data.@@@@1@17@@oe@2-2-2013
21464043@unknown@formal@none@1@S@"The supply is not a constraint to the market," said Samuel Kahan, chief financial economist at Kleinwort Benson Government Securities Inc.@@@@1@21@@oe@2-2-2013
21464044@unknown@formal@none@1@S@"If one thinks that rates are going down, you don't care how much supply is coming."@@@@1@16@@oe@2-2-2013
21464045@unknown@formal@none@1@S@Friday's Market Activity@@@@1@3@@oe@2-2-2013
21464046@unknown@formal@none@1@S@Most bond prices fell on concerns about this week's new supply and disappointment that stock prices didn't stage a sharp decline.@@@@1@21@@oe@2-2-2013
21464047@unknown@formal@none@1@S@Junk bond prices moved higher, however.@@@@1@6@@oe@2-2-2013
21464048@unknown@formal@none@1@S@In early trading, Treasury bonds were higher on expectations that a surge in buying among Japanese investors would continue.@@@@1@19@@oe@2-2-2013
21464049@unknown@formal@none@1@S@Also providing support to Treasurys was hope that the stock market might see declines because of the expiration of some stock-index futures and options on indexes and individual stocks.@@@@1@29@@oe@2-2-2013
21464050@unknown@formal@none@1@S@Those hopes were dashed when the stock market put in a relatively quiet performance.@@@@1@14@@oe@2-2-2013
21464051@unknown@formal@none@1@S@Treasury bonds ended with losses of as much as 1/4 point, or about $2.50 for each $1,000 face amount.@@@@1@19@@oe@2-2-2013
21464052@unknown@formal@none@1@S@The benchmark 30-year bond, which traded as high as 102 1/4 during the day, ended at 101 17/32.@@@@1@18@@oe@2-2-2013
21464053@unknown@formal@none@1@S@The yield on the benchmark bond rose slightly to 7.98% from 7.96%.@@@@1@12@@oe@2-2-2013
21464054@unknown@formal@none@1@S@In the corporate bond market, traders said the new-issue market for junk bonds is likely to pick up following Chicago & North Western Acquisition Corp.'s $475 million junk bond offering Friday.@@@@1@31@@oe@2-2-2013
21464055@unknown@formal@none@1@S@Today, for example, underwriters at Morgan Stanley & Co. said they expect to price a $150 million, 12-year senior subordinated debenture offering by Imo Industries Inc.@@@@1@26@@oe@2-2-2013
21464056@unknown@formal@none@1@S@Traders expect the issue to be priced to yield 12%.@@@@1@10@@oe@2-2-2013
21464057@unknown@formal@none@1@S@Shearson Lehman Hutton Inc. said that a $150 million senior subordinated discount debenture issue by R.P. Scherer Drugs is expected by the end of the month.@@@@1@26@@oe@2-2-2013
21464058@unknown@formal@none@1@S@However, despite the big new-issue calendar, many junk bond investors and analysts are skeptical the deals will get done.@@@@1@19@@oe@2-2-2013
21464059@unknown@formal@none@1@S@"There are about a dozen more deals coming," said Michael McNamara, director of fixed-income research at Kemper Financial Services Inc.@@@@1@20@@oe@2-2-2013
21464060@unknown@formal@none@1@S@"If they had this much trouble with Chicago & North Western, they are going to have an awful time with the rest."@@@@1@22@@oe@2-2-2013
21464061@unknown@formal@none@1@S@Last week, underwriters were forced to postpone three junk bond deals because of recent weakness in the market.@@@@1@18@@oe@2-2-2013
21464062@unknown@formal@none@1@S@And pressure by big investors forced Donaldson Lufkin & Jenrette Securities Corp. to sweeten Chicago & North Western's $475 million junk bond offering.@@@@1@23@@oe@2-2-2013
21464063@unknown@formal@none@1@S@After hours of negotiating that stretched late into Thursday night, underwriters priced the 12-year issue of resettable senior subordinated debentures at par to yield 14.75%, higher than the 14.5% that had been expected.@@@@1@33@@oe@2-2-2013
21464064@unknown@formal@none@1@S@The coupon on the issue will be reset in one year at a rate that will give the issue a market value of 101.@@@@1@24@@oe@2-2-2013
21464065@unknown@formal@none@1@S@However, the maximum coupon rate on the issue when it is reset is 15.50%.@@@@1@14@@oe@2-2-2013
21464066@unknown@formal@none@1@S@Debenture holders also will receive the equivalent of 10% of the common stock in Chicago & North Western's parent company.@@@@1@20@@oe@2-2-2013
21464067@unknown@formal@none@1@S@"The coupon was raised to induce some of the big players on the fence to come in," said a spokesman for Donaldson.@@@@1@22@@oe@2-2-2013
21464068@unknown@formal@none@1@S@"We put a price on the deal that the market required to get it done."@@@@1@15@@oe@2-2-2013
21464069@unknown@formal@none@1@S@The spokesman said the issue was sold out and met with strong interest abroad, particularly from Japanese investors.@@@@1@18@@oe@2-2-2013
21464070@unknown@formal@none@1@S@In the secondary, or resale, market, junk bonds closed 1/2 point higher, while investment-grade corporate bonds fell 1/8 to 1/4 point.@@@@1@21@@oe@2-2-2013
21465001@unknown@formal@none@1@S@Sotheby's Inc.'s gamble in the art-dealing business appears to have paid off.@@@@1@12@@oe@2-2-2013
21465002@unknown@formal@none@1@S@The New York arm of the London-based auction house auctioned off the estate of John T. Dorrance Jr., the Campbell's Soup Co. heir, for $131 million last week, a record for a single-owner art collection.@@@@1@35@@oe@2-2-2013
21465003@unknown@formal@none@1@S@That total was below the $140 million the auction house estimated the collection might sell for, but was enough to ensure that an unprecedented financial arrangement Sotheby's had made with the Dorrance family proved profitable to the auction house.@@@@1@39@@oe@2-2-2013
21465004@unknown@formal@none@1@S@Sotheby's provided the Dorrance family a guarantee of at least $100 million, and as much as $120 million, to obtain the collection, people familiar with the transaction said, thus taking a greater than usual financial interest in the property to be sold.@@@@1@42@@oe@2-2-2013
21465005@unknown@formal@none@1@S@The Dorrance estate, auctioned off in a series of sales held over four days, included porcelains, furniture and paintings.@@@@1@19@@oe@2-2-2013
21465006@unknown@formal@none@1@S@An Henri Matisse, auctioned last Wednesday, fetched $12.4 million, a world record for the artist.@@@@1@15@@oe@2-2-2013
21465007@unknown@formal@none@1@S@In addition, a handful of paintings from the Dorrance collection remain to be sold at Sotheby's annual old masters paintings auction in January.@@@@1@23@@oe@2-2-2013
21466001@unknown@formal@none@1@S@The Better Business Bureau of San Diego and the state Attorney General's office entered into a settlement stemming from an investigation of bureau-sponsored business directories published by an outside firm, Better Book Inc.@@@@1@33@@oe@2-2-2013
21466002@unknown@formal@none@1@S@The settlement stems from charges that Better Book, now defunct, made misrepresentations in selling advertising for the directories and memberships in the bureau from 1984 to 1986.@@@@1@27@@oe@2-2-2013
21466003@unknown@formal@none@1@S@Without admitting any guilt, the bureau agreed to several conditions if it again contracts with an outside firm to publish its directories.@@@@1@22@@oe@2-2-2013
21466004@unknown@formal@none@1@S@The conditions include not misrepresenting how many directories will be distributed, and agreeing to make refunds to directory advertisers if any misrepresentations are involved in the sale.@@@@1@27@@oe@2-2-2013
21466005@unknown@formal@none@1@S@The Attorney General's investigation was sparked by lawsuits and charges by angry California businesspeople that they were swindled in a bureau-sponsored directory project contracted by Better Book.@@@@1@27@@oe@2-2-2013
21466006@unknown@formal@none@1@S@The uproar led to the closing of the Los Angeles Better Business Bureau in late 1987.@@@@1@16@@oe@2-2-2013
21467001@unknown@formal@none@1@S@McCaw Cellular Communications Inc. said it obtained "firm" financing commitments from three major banks in regard to its offer for 50.3% of LIN Broadcasting Corp.@@@@1@25@@oe@2-2-2013
21467002@unknown@formal@none@1@S@Morgan Guaranty Trust, Toronto-Dominion Bank and Provident National Bank, an affiliate of PNC Financial Corp., jointly committed $1.2 billion of financing, subject to certain conditions, McCaw said.@@@@1@27@@oe@2-2-2013
21467003@unknown@formal@none@1@S@Further, McCaw said the banks expressed confidence that the balance of the $4.5 billion bank facility will be committed within the next several weeks by a syndicate of foreign and domestic banks.@@@@1@32@@oe@2-2-2013
21467004@unknown@formal@none@1@S@Morgan, Toronto-Dominion and Provident are leading that syndicate.@@@@1@8@@oe@2-2-2013
21467005@unknown@formal@none@1@S@McCaw is offering to buy 22 million shares of LIN for $125 each in cash, which would result in McCaw owning 50.3% of the cellular-phone and broadcasting concern.@@@@1@28@@oe@2-2-2013
21467006@unknown@formal@none@1@S@The offer is in limbo, however, because LIN has agreed to merge its cellular-phone businesses with BellSouth Corp.@@@@1@18@@oe@2-2-2013
21467007@unknown@formal@none@1@S@In national over-the-counter trading Friday, LIN shares rose 62.5 cents to close at $110.625.@@@@1@14@@oe@2-2-2013
21467008@unknown@formal@none@1@S@Beijing lawmakers have called for jails to be built to house prostitutes and for severe punishment, including the death sentence, for anyone who induces or coerces women into prostitution.@@@@1@29@@oe@2-2-2013
21467009@unknown@formal@none@1@S@The official Xinhua News Agency said the municipal government was discussing a draft bill to give the capital its first anti-prostitution statutes.@@@@1@22@@oe@2-2-2013
21467010@unknown@formal@none@1@S@It quoted Liu Changyi, deputy director of the Beijing Public Security Bureau, as saying that there were many more people involved in prostitution now than in 1985, when there were about 100 cases.@@@@1@33@@oe@2-2-2013
21467011@unknown@formal@none@1@S@Foreigners involved in prostitution will be punished according to the law, and those with sexually transmitted diseases will be expelled from the country, according to the regulations.@@@@1@27@@oe@2-2-2013
21467012@unknown@formal@none@1@S@The Communists nearly succeeded in eliminating prostitution after taking over in 1949, but the practice has returned in recent years with the country's increased exposure to the outside world.@@@@1@29@@oe@2-2-2013
21467013@unknown@formal@none@1@S@Japan agreed to enforce a decision by an international wildlife conference to ban all trade in ivory, a spokesman for the Ministry of International Trade and Industry said.@@@@1@28@@oe@2-2-2013
21467014@unknown@formal@none@1@S@Earlier, Japan had said it might file a reservation against the ivory ban decided by ballot at the 103-nation United Nations Conference on International Trade in Endangered Species in Switzerland last week.@@@@1@32@@oe@2-2-2013
21467015@unknown@formal@none@1@S@The Japanese use 40% of the world's ivory.@@@@1@8@@oe@2-2-2013
21467016@unknown@formal@none@1@S@Italy should close the Leaning Tower of Pisa because it's a danger to tourists, government-appointed experts said.@@@@1@17@@oe@2-2-2013
21467017@unknown@formal@none@1@S@"In some places the stonework is so damaged it shows signs of breaking off," scientists and technicians said in a report to Public Works Minister Giovanni Prandini.@@@@1@27@@oe@2-2-2013
21467018@unknown@formal@none@1@S@Each year, nearly a million people pay about $3 to make the spiral climb up 294 steps to the top of the 800-year-old marble tower.@@@@1@25@@oe@2-2-2013
21467019@unknown@formal@none@1@S@East Germany pledged to reduce alcohol consumption by boosting production of soft drinks and fruit juices.@@@@1@16@@oe@2-2-2013
21467020@unknown@formal@none@1@S@Trade and Supply Minister Gerhard Briksa said in a letter published in the youth daily Junge Welt that the rise in alcohol consumption in East Germany had been halted; but to reduce it further, he said, production and supply of other beverages, including fruit juices, should be stepped up.@@@@1@49@@oe@2-2-2013
21467021@unknown@formal@none@1@S@He added that shops will have to continue reducing their stocks of liquor and avoid displaying them too prominently in the window.@@@@1@22@@oe@2-2-2013
21467022@unknown@formal@none@1@S@Hong Kong has built a detention center for illegal immigrants from China because China has refused for the past two weeks to accept them back.@@@@1@25@@oe@2-2-2013
21467023@unknown@formal@none@1@S@The center, close to Hong Kong's border with China, will be ready today and will be able to house 1,000 inmates, Police Deputy Director Peter Wong said.@@@@1@27@@oe@2-2-2013
21467024@unknown@formal@none@1@S@The dispute started when China, angry that Hong Kong had allowed dissident swimmer Yang Yang to flee to the U.S., halted the usual daily transfer of illegal immigrants caught in this British colony, which reverts to Beijing's control in 1997.@@@@1@40@@oe@2-2-2013
21467025@unknown@formal@none@1@S@Sweating under the glare of newly installed television lights, British members of Parliament demanded a halt to the experimental televising of debates.@@@@1@22@@oe@2-2-2013
21467026@unknown@formal@none@1@S@A group of senior Conservative legislators, complaining the House of Commons was like a sauna, demanded that the experiment be stopped unless the intensity of the lights is reduced.@@@@1@29@@oe@2-2-2013
21467027@unknown@formal@none@1@S@One Conservative MP, David Wilshire, said: "I should have a wonderful suntan by Christmas."@@@@1@14@@oe@2-2-2013
21467028@unknown@formal@none@1@S@Debates are due to be broadcast nationally starting Nov. 21 in a six-month experiment.@@@@1@14@@oe@2-2-2013
21467029@unknown@formal@none@1@S@A majority of Japanese banks are said to be wary of making new loans to Mexico under the Brady plan because they're uncertain the Mexican economy will remain stable.@@@@1@29@@oe@2-2-2013
21467030@unknown@formal@none@1@S@Instead, many small and medium-sized banks, and some larger ones, are likely to take one of the other two options open to them under the plan, Japanese banking officials said.@@@@1@30@@oe@2-2-2013
21467031@unknown@formal@none@1@S@The plan, proposed by U.S. Secretary of State Nicholas Brady, calls for banks either to make new loans or to reduce the principle on existing loans or to cut the interest rate on those existing loans.@@@@1@36@@oe@2-2-2013
21467032@unknown@formal@none@1@S@The officials said that most Japanese banks prefer the losses they'd suffer in either of the latter options to the risk of new lending.@@@@1@24@@oe@2-2-2013
21467033@unknown@formal@none@1@S@But an official at a long-term credit bank explained that since some larger banks have already taken loss provisions for loans to other Third World nations, further write-offs could be viewed as intolerable.@@@@1@33@@oe@2-2-2013
21467034@unknown@formal@none@1@S@"They can't take the hit" to their earnings, he said.@@@@1@10@@oe@2-2-2013
21467035@unknown@formal@none@1@S@As a result, the official said, they may be forced into a no-win situation in which they make risky loans that they could have to write off later.@@@@1@28@@oe@2-2-2013
21467036@unknown@formal@none@1@S@A poll in male-dominated South Korea put Margaret Thatcher first on a list of most-respected foreign leaders.@@@@1@17@@oe@2-2-2013
21467037@unknown@formal@none@1@S@The British prime minister was the only woman singled out by respondents, who put Soviet President Mikhail Gorbachev in second place. . . .@@@@1@24@@oe@2-2-2013
21467038@unknown@formal@none@1@S@The Soviet newspaper Trud reported that Mickey Mouse will appear in a Russian-language comic book to be issued four times a year by Soviet publisher Fizkultura i Sport and Denmark's Gutenberghus Group.@@@@1@32@@oe@2-2-2013
21467039@unknown@formal@none@1@S@The comic book will cost about $2.@@@@1@7@@oe@2-2-2013
21468001@unknown@formal@none@1@S@Ekco Group Inc., Nashua, N.H., expects to report that net income in the third quarter, ended Oct. 1, fell 50% to 60% from $2.1 million, or 11 cents a share, a year earlier.@@@@1@33@@oe@2-2-2013
21468002@unknown@formal@none@1@S@Robert Stein, president and chief executive officer, attributed the expected decline partly to the effects of a two-week strike last month at the company's Masillon, Ohio, bakeware facility.@@@@1@28@@oe@2-2-2013
21468003@unknown@formal@none@1@S@Softer-than-expected orders in early September also played a role, he said in an interview.@@@@1@14@@oe@2-2-2013
21468004@unknown@formal@none@1@S@But Mr. Stein said he is "reasonably confident" that earnings for the full year will exceed the $3.1 million, or 17 cents a share, in 1988.@@@@1@26@@oe@2-2-2013
21468005@unknown@formal@none@1@S@That would require fourth-quarter net of more than about 22 cents to 24 cents a share, assuming that Mr. Stein's third-quarter estimate proves accurate.@@@@1@24@@oe@2-2-2013
21468006@unknown@formal@none@1@S@In the year-earlier fourth quarter, the company had profit of $2.7 million, or 15 cents a share.@@@@1@17@@oe@2-2-2013
21468007@unknown@formal@none@1@S@Third-quarter revenue is expected to be $40 million to $45 million, up from $38.2 million a year earlier, according to Neil Gordon, treasurer.@@@@1@23@@oe@2-2-2013
21468008@unknown@formal@none@1@S@The year-earlier periods don't reflect results of the company's Woodstream Corp. unit, acquired last January, but include some Canadian operations that were sold at the end of 1988.@@@@1@28@@oe@2-2-2013
21468009@unknown@formal@none@1@S@August through October traditionally is the busiest season for the bakeware business, as many retailers use the goods as autumn promotional items.@@@@1@22@@oe@2-2-2013
21468010@unknown@formal@none@1@S@Mr. Stein said some retailers -- perhaps anxious about minimizing inventories -- appear to have held back on orders in September but have been ordering more heavily in October.@@@@1@29@@oe@2-2-2013
21468011@unknown@formal@none@1@S@Mr. Stein said Woodstream is "marginally profitable" but hasn't performed as well as expected.@@@@1@14@@oe@2-2-2013
21468012@unknown@formal@none@1@S@Woodstream's Victor-brand mousetraps and other pest-control products are "doing very well," and its plastic storage-case products "are poised for growth," he said.@@@@1@22@@oe@2-2-2013
21468013@unknown@formal@none@1@S@But the unit's third segment, wildlife traps, is suffering from a "depressed market," and Ekco is seeking to sell that segment, he said.@@@@1@23@@oe@2-2-2013
21468014@unknown@formal@none@1@S@Mr. Stein said he expects profit to be higher in 1990 than in 1989, reflecting a number of measures taken since the acquisition of Ekco Housewares in late 1987.@@@@1@29@@oe@2-2-2013
21468015@unknown@formal@none@1@S@(Prior to acquiring the housewares business, the company was known as Centronics Corp.; Centronics had been a maker of computer printers, but Mr. Stein and other officers decided to sell that business after Japanese competitors grabbed a dominant share of the market.)@@@@1@42@@oe@2-2-2013
21468016@unknown@formal@none@1@S@Mr. Stein said tighter operating controls have enabled Ekco to reduce inventory levels 25% to 30%; improve on-time delivery of orders to about 95% from around 70%; and to lower the number of labor hours required to produce a unit.@@@@1@40@@oe@2-2-2013
21468017@unknown@formal@none@1@S@By moving the design of new products in-house -- instead of contracting out the work -- the company also has been able to come up with designs that can be manufactured more efficiently, he said.@@@@1@35@@oe@2-2-2013
21468018@unknown@formal@none@1@S@In addition to those measures, the company spent heavily earlier this year to install displays at its customers' retail outlets -- a strategy that Mr. Stein said has helped bolster awareness of the company's brands.@@@@1@35@@oe@2-2-2013
21468019@unknown@formal@none@1@S@Ekco's housewares operation makes kitchen tools and gadgets, as well as bakeware, at factories in the U.S. and Canada.@@@@1@19@@oe@2-2-2013
21468020@unknown@formal@none@1@S@The main issue in the strike at the Ohio facility was health-care benefits, Mr. Stein said.@@@@1@16@@oe@2-2-2013
21468021@unknown@formal@none@1@S@The strike ended Oct.@@@@1@4@@oe@2-2-2013
21468022@unknown@formal@none@1@S@Ekco continues to seek further acquisitions in the consumer-products industry, Mr. Stein said.@@@@1@13@@oe@2-2-2013
21468023@unknown@formal@none@1@S@He indicated that Ekco may be interested in acquiring another company with revenue in the range of $75 million to $100 million, partly because mass merchandisers increasingly want to rely on larger, and fewer, suppliers.@@@@1@35@@oe@2-2-2013
21469001@unknown@formal@none@1@S@After several years of booming business with China, foreign traders are bracing for the biggest slump in a decade.@@@@1@19@@oe@2-2-2013
21469002@unknown@formal@none@1@S@The imposition of austerity measures, starting last October, already had begun to pinch when the massacre in Tiananmen Square on June 4 and subsequent events tugged the belt far tighter.@@@@1@30@@oe@2-2-2013
21469003@unknown@formal@none@1@S@Foreign lending has been virtually suspended since then, choking liquidity and hobbling many projects.@@@@1@14@@oe@2-2-2013
21469004@unknown@formal@none@1@S@And Beijing has pulled back on domestic loans and subsidies, leaving many domestic buyers and export-oriented plants strapped for cash.@@@@1@20@@oe@2-2-2013
21469005@unknown@formal@none@1@S@Givaudan Far East Ltd., a Swiss concern that sells chemicals to shampoo and soap factories in China, typifies the problems.@@@@1@20@@oe@2-2-2013
21469006@unknown@formal@none@1@S@Last year's retrenchment dried up the working capital of Chinese factories.@@@@1@11@@oe@2-2-2013
21469007@unknown@formal@none@1@S@The company's sales flattened during 1989's first half.@@@@1@8@@oe@2-2-2013
21469008@unknown@formal@none@1@S@The June killings magnified the problems.@@@@1@6@@oe@2-2-2013
21469009@unknown@formal@none@1@S@In Canton, Givaudan's representative office received no orders in June.@@@@1@10@@oe@2-2-2013
21469010@unknown@formal@none@1@S@At first it attributed the slump to temporary business disruptions, but when no orders were logged in August and September, manager Donald Lai became convinced that business would be bad for many months.@@@@1@33@@oe@2-2-2013
21469011@unknown@formal@none@1@S@"Things have grown worse since June 4," Mr. Lai says.@@@@1@10@@oe@2-2-2013
21469012@unknown@formal@none@1@S@He predicts that sales will drop between 30% and 40% from last year's $3 million.@@@@1@15@@oe@2-2-2013
21469013@unknown@formal@none@1@S@The consumer-products and light-industrial sectors are bearing the brunt of China's austerity measures, and foreign companies such as Givaudan that deal with those industries are being hit the hardest.@@@@1@29@@oe@2-2-2013
21469014@unknown@formal@none@1@S@But in general, all foreign-trading companies are feeling the pinch.@@@@1@10@@oe@2-2-2013
21469015@unknown@formal@none@1@S@"The import pie will shrink," says John Kamm, first vice president of the American Chamber of Commerce in Hong Kong and a China trade specialist.@@@@1@25@@oe@2-2-2013
21469016@unknown@formal@none@1@S@"On the down side, sales could fall as much as 90% for some companies; on the upper side, sales will be flat."@@@@1@22@@oe@2-2-2013
21469017@unknown@formal@none@1@S@China's foreign trade has gone in cycles during the past decade.@@@@1@11@@oe@2-2-2013
21469018@unknown@formal@none@1@S@The last time that traders experienced a trough was during 1985-86, when Beijing imposed tough measures to curb imports and conserve foreign exchange.@@@@1@23@@oe@2-2-2013
21469019@unknown@formal@none@1@S@The current trough is expected to be much deeper, because Beijing has cut off domestic funds from factories for the first time to slow inflation.@@@@1@25@@oe@2-2-2013
21469020@unknown@formal@none@1@S@In addition, the suspension of loans and export credits from foreign governments and institutions following the June killings have been a big setback.@@@@1@23@@oe@2-2-2013
21469021@unknown@formal@none@1@S@"The freeze on new lending is dealing the single biggest blow to trading," says Raymond Wong, China manager for Mannesmann AG, a West German machinery-trading company.@@@@1@26@@oe@2-2-2013
21469022@unknown@formal@none@1@S@Import growth from the year-earlier months slowed to 16% in July and 7.1% in August, compared with an average growth rate of 26% in the first half.@@@@1@27@@oe@2-2-2013
21469023@unknown@formal@none@1@S@In the first eight months of 1989, imports grew 21%, to $38.32 billion, down slightly from a growth rate of 23% a year earlier.@@@@1@24@@oe@2-2-2013
21469024@unknown@formal@none@1@S@The picture for China's exports is just as bleak, mainly because of the domestic credit squeeze.@@@@1@16@@oe@2-2-2013
21469025@unknown@formal@none@1@S@Exports in the first eight months grew only 9%, to $31.48 billion, compared with a growth rate of 25% a year earlier, according to Chinese customs figures.@@@@1@27@@oe@2-2-2013
21469026@unknown@formal@none@1@S@The threat to China's balance of payments is further aggravated by the plunge in its foreign-exchange reserves, excluding gold holdings.@@@@1@20@@oe@2-2-2013
21469027@unknown@formal@none@1@S@The reserves dropped for the first time in recent years, to $14 billion in June from $19 billion in April.@@@@1@20@@oe@2-2-2013
21469028@unknown@formal@none@1@S@The trend has prompted Beijing to intensify efforts to curb imports.@@@@1@11@@oe@2-2-2013
21469029@unknown@formal@none@1@S@In recent weeks, China's leaders have recentralized trading in wool and scores of chemical products and commodities.@@@@1@17@@oe@2-2-2013
21469030@unknown@formal@none@1@S@The Ministry of Foreign Economic Relations and Trade set up a special bureau last month to monitor the issue of import and export licenses.@@@@1@24@@oe@2-2-2013
21469031@unknown@formal@none@1@S@Beijing's periodic clampdowns on imports have taught many trading companies that the best way to get through the drought is by helping China export.@@@@1@24@@oe@2-2-2013
21469032@unknown@formal@none@1@S@For example, Nissho Iwai Corp., one of the biggest Japanese trading houses, now buys almost twice as many goods from China as it sells to that country.@@@@1@27@@oe@2-2-2013
21469033@unknown@formal@none@1@S@Three years ago, the ratio was reversed.@@@@1@7@@oe@2-2-2013
21469034@unknown@formal@none@1@S@But the strategy isn't helping much this time.@@@@1@8@@oe@2-2-2013
21469035@unknown@formal@none@1@S@"Both sectors of imports and exports look just as bad," says Masahiko Kitamura, general manager of Nissho Iwai's Canton office.@@@@1@20@@oe@2-2-2013
21469036@unknown@formal@none@1@S@He expects the company's trading business to drop as much as 40% this year.@@@@1@14@@oe@2-2-2013
21469037@unknown@formal@none@1@S@For a short time after June 4, it appeared that the trade picture would remain fairly bright.@@@@1@17@@oe@2-2-2013
21469038@unknown@formal@none@1@S@Many foreign trading offices in Hong Kong were swamped with telexes and telephone calls from Chinese trade officials urging them not to sever ties.@@@@1@24@@oe@2-2-2013
21469039@unknown@formal@none@1@S@Even the Bank of China, which normally took weeks to process letters of credit, was settling the letters at record speed to dispel rumors about the bank's financial health.@@@@1@29@@oe@2-2-2013
21469040@unknown@formal@none@1@S@But when foreign traders tried to do business, they discovered that the eagerness of Chinese trade officials was just a smokescreen.@@@@1@21@@oe@2-2-2013
21469041@unknown@formal@none@1@S@The suspension of foreign loans has weakened the buying power of China's national trading companies, which are among the country's biggest importers.@@@@1@22@@oe@2-2-2013
21469042@unknown@formal@none@1@S@Business isn't any better on the provincial or municipal level, foreign traders say.@@@@1@13@@oe@2-2-2013
21469043@unknown@formal@none@1@S@Shanghai Investment & Trust Co., known as Sitco, is the city's main financier for trading business.@@@@1@16@@oe@2-2-2013
21469044@unknown@formal@none@1@S@Sitco had customarily tapped the Japanese bond market for funds, but it can't do that any longer.@@@@1@17@@oe@2-2-2013
21469045@unknown@formal@none@1@S@Foreign traders say the company is strapped for cash.@@@@1@9@@oe@2-2-2013
21469046@unknown@formal@none@1@S@"It has difficulties paying its foreign debts," says a Hong Kong executive who is familiar with Sitco's business.@@@@1@18@@oe@2-2-2013
21469047@unknown@formal@none@1@S@"How can it make available funds for purchases?"@@@@1@8@@oe@2-2-2013
21469048@unknown@formal@none@1@S@Foreign traders also say many of China's big infrastructural projects have been canceled or postponed because of the squeeze on domestic and foreign credit.@@@@1@24@@oe@2-2-2013
21469049@unknown@formal@none@1@S@Albert Lee, a veteran trader who specializes in machinery sales, estimates that as many as 70% of projects that had obtained approval to proceed have been canceled in recent months.@@@@1@30@@oe@2-2-2013
21469050@unknown@formal@none@1@S@"There are virtually no new projects, and that means no new business for us," he says.@@@@1@16@@oe@2-2-2013
21469051@unknown@formal@none@1@S@Even when new lending resumes, foreign exchange would still be tight because Beijing will likely try to rein in foreign borrowing, which has grown between 30% and 40% in the past few years.@@@@1@33@@oe@2-2-2013
21469052@unknown@formal@none@1@S@And foreign creditors are likely to be more cautious about extending new loans because China is nearing a peak repayment period as many loans start falling due in the next two to five years.@@@@1@34@@oe@2-2-2013
21469053@unknown@formal@none@1@S@Another reason for the intensity of the trade problems is that Beijing has extended the current clampdown on imports beyond the usual target of consumer products to include steel, chemical fertilizers and plastics.@@@@1@33@@oe@2-2-2013
21469054@unknown@formal@none@1@S@These have been among the country's leading imports, particularly last year when there were shortages that led many traders to buy heavily and pay dearly.@@@@1@25@@oe@2-2-2013
21469055@unknown@formal@none@1@S@But the shortages also spawned rampant speculation and spiraling prices.@@@@1@10@@oe@2-2-2013
21469056@unknown@formal@none@1@S@To stem speculation, Beijing imposed ceiling prices that went into effect earlier this year.@@@@1@14@@oe@2-2-2013
21469057@unknown@formal@none@1@S@Traders who had bought the goods at prices above the ceiling don't want to take a loss on resales and are holding onto their stock.@@@@1@25@@oe@2-2-2013
21469058@unknown@formal@none@1@S@The resulting stockpiling has depressed the market.@@@@1@7@@oe@2-2-2013
21469059@unknown@formal@none@1@S@But Beijing can't cut back on such essential imports as raw materials for too long without hampering the country's export business.@@@@1@21@@oe@2-2-2013
21469060@unknown@formal@none@1@S@Mr. Kamm, the China trade expert, estimates that as much as 50% of Guangdong's exports is made up of processed imported raw materials.@@@@1@23@@oe@2-2-2013
21470001@unknown@formal@none@1@S@Oil Spill Case Shows Liability Fund Flaws@@@@1@7@@oe@2-2-2013
21470002@unknown@formal@none@1@S@AN UNRESOLVED two-year-old dispute stemming from an Alaskan oil spill has helped spur a drive for tougher federal laws to protect victims of such accidents.@@@@1@25@@oe@2-2-2013
21470003@unknown@formal@none@1@S@The class-action suit highlights shortcomings of the Trans-Alaska Pipeline Liability Fund, which gets its money from oil companies using the pipeline and compensates those harmed by oil spills.@@@@1@28@@oe@2-2-2013
21470004@unknown@formal@none@1@S@On July 2, 1987, the tanker S.S. Glacier Bay struck a rock and spilled almost 150,000 gallons of oil into the Cook Inlet.@@@@1@23@@oe@2-2-2013
21470005@unknown@formal@none@1@S@Commercial fishermen and fish processors filed suit in federal court in a claim that has ballooned to more than $104.8 million.@@@@1@21@@oe@2-2-2013
21470006@unknown@formal@none@1@S@Defendants include British Petroleum America; Trinidad Corp., the shipper; and the pipeline liability fund.@@@@1@14@@oe@2-2-2013
21470007@unknown@formal@none@1@S@The fund was created by the Trans-Alaska Pipeline Act, which provides that the owner or operator of a vessel involved in an oil spill must pay the first $14 million in damages.@@@@1@32@@oe@2-2-2013
21470008@unknown@formal@none@1@S@The fund is required to pay claims up to an additional $86 million.@@@@1@13@@oe@2-2-2013
21470009@unknown@formal@none@1@S@The fund's purpose is to provide quick and adequate relief.@@@@1@10@@oe@2-2-2013
21470010@unknown@formal@none@1@S@But the Glacier Bay case, the fund's first test, shows how easily the fund can be undermined.@@@@1@17@@oe@2-2-2013
21470011@unknown@formal@none@1@S@Trinidad Corp. is contesting liability.@@@@1@5@@oe@2-2-2013
21470012@unknown@formal@none@1@S@It claims the Coast Guard failed to chart the rock and refuses to pay damages.@@@@1@15@@oe@2-2-2013
21470013@unknown@formal@none@1@S@That means the fund isn't obligated to pay anything, at least so far.@@@@1@13@@oe@2-2-2013
21470014@unknown@formal@none@1@S@The Oil Pollution Act, scheduled to come up for a vote in Congress this fall, would provide that if claimants aren't paid within 90 days of a spill, the liability fund would compensate them and seek reimbursement from the owner or operator of the vessel, says a spokesman for Rep. George Miller (D., Calif.), a sponsor of the bill.@@@@1@59@@oe@2-2-2013
21470015@unknown@formal@none@1@S@The spokesman says the "glitch" in the statute is "the worst kind of Catch-22."@@@@1@14@@oe@2-2-2013
21470016@unknown@formal@none@1@S@Many Law School Grads Find Classes Never End@@@@1@8@@oe@2-2-2013
21470017@unknown@formal@none@1@S@RECENT LAW school graduates are starting jobs with law firms this fall -- and heading back to class.@@@@1@18@@oe@2-2-2013
21470018@unknown@formal@none@1@S@Bar associations and consultants are offering more programs to teach associates all they need to know about law but didn't learn in law school.@@@@1@24@@oe@2-2-2013
21470019@unknown@formal@none@1@S@"Law school teaches wonderful theory, but it doesn't teach the nuts and bolts of practical lawyering," says Aaron Weitz, head of a New York County Lawyers' Association committee that sponsors such a course.@@@@1@33@@oe@2-2-2013
21470020@unknown@formal@none@1@S@In the past, associates learned the basics from senior lawyers who acted as mentors.@@@@1@14@@oe@2-2-2013
21470021@unknown@formal@none@1@S@But these days, large firms hire as many as 30 new associates a year, and it's impossible to personally train everyone, says Joel Henning of Hildebrandt Inc., a consulting firm that runs training classes.@@@@1@34@@oe@2-2-2013
21470022@unknown@formal@none@1@S@The Hildebrandt course enables students to brush up on negotiation skills by role playing in simulated deals.@@@@1@17@@oe@2-2-2013
21470023@unknown@formal@none@1@S@Students also are taught to return clients' phone calls immediately and to treat the support staff with respect.@@@@1@18@@oe@2-2-2013
21470024@unknown@formal@none@1@S@Many law firms sponsor their own programs.@@@@1@7@@oe@2-2-2013
21470025@unknown@formal@none@1@S@At the Baltimore firm of Weinberg & Green, new corporate and banking associates are required to enroll in a 20-class course.@@@@1@21@@oe@2-2-2013
21470026@unknown@formal@none@1@S@Partners lecture on how to form corporations, draft agreements and defend clients against unwanted tender offers.@@@@1@16@@oe@2-2-2013
21470027@unknown@formal@none@1@S@Now, clients know that new associates have had some practical training before working on their cases, says James J. Hanks, a partner at the firm.@@@@1@25@@oe@2-2-2013
21470028@unknown@formal@none@1@S@Los Angeles Creates A Courthouse for Kids@@@@1@7@@oe@2-2-2013
21470029@unknown@formal@none@1@S@THE CHILDREN of Los Angeles will soon have their own $52 million courthouse.@@@@1@13@@oe@2-2-2013
21470030@unknown@formal@none@1@S@The building, which will handle child abuse, custody and foster care cases, will be "less formal, less threatening and just basically less grim than most courthouses," says Edmund Edelman, chairman of the Los Angeles County Board of Supervisors.@@@@1@38@@oe@2-2-2013
21470031@unknown@formal@none@1@S@Designs call for an L-shaped structure with a playground in the center.@@@@1@12@@oe@2-2-2013
21470032@unknown@formal@none@1@S@There will be recreation and movie rooms.@@@@1@7@@oe@2-2-2013
21470033@unknown@formal@none@1@S@Teens will be able to listen to music with headsets.@@@@1@10@@oe@2-2-2013
21470034@unknown@formal@none@1@S@Study halls, complete with reference materials, will be available.@@@@1@9@@oe@2-2-2013
21470035@unknown@formal@none@1@S@And there will be a nurse's station and rooms for children to meet with social workers.@@@@1@16@@oe@2-2-2013
21470036@unknown@formal@none@1@S@The building's 25 courtrooms will be smaller, says Charlene Saunders, a court administrator.@@@@1@13@@oe@2-2-2013
21470037@unknown@formal@none@1@S@The bench will be lower so the judge seems less intimidating, and walls will be painted in bright colors and covered with murals.@@@@1@23@@oe@2-2-2013
21470038@unknown@formal@none@1@S@Cases in Los Angeles County involving dependent children are usually heard in the Criminal Courts Building.@@@@1@16@@oe@2-2-2013
21470039@unknown@formal@none@1@S@"We need to get the kids away from the criminals into a less traumatic environment," says Mr. Edelman.@@@@1@18@@oe@2-2-2013
21470040@unknown@formal@none@1@S@About 45,000 children in Los Angeles County are under court supervision, Mr. Edelman says, and an average of 1,500 new children are added each month.@@@@1@25@@oe@2-2-2013
21470041@unknown@formal@none@1@S@The courthouse, to be built in Monterey Park, is expected to open in the spring of 1992.@@@@1@17@@oe@2-2-2013
21470042@unknown@formal@none@1@S@Law Firm Management Can Be Quite Rewarding@@@@1@7@@oe@2-2-2013
21470043@unknown@formal@none@1@S@IT PAYS to follow a management career path -- even at law firms.@@@@1@13@@oe@2-2-2013
21470044@unknown@formal@none@1@S@That's the conclusion of a recent study of large law firms conducted by Altman & Weil Inc., an Ardmore, Pa., law firm consultant.@@@@1@23@@oe@2-2-2013
21470045@unknown@formal@none@1@S@Its survey of 96 firms, each with 100 to 1,000 lawyers, shows that managing partners earned an average of $395,974 in compensation and cash benefits in the firms' 1988 fiscal years.@@@@1@31@@oe@2-2-2013
21470046@unknown@formal@none@1@S@Managing partners who responded to the survey typically spend over half their time supervising their firms' day-to-day operations and just a little more than a third of their time practicing law.@@@@1@31@@oe@2-2-2013
21470047@unknown@formal@none@1@S@Partners in the survey who devote most of their time to practicing law earned an average of about $217,000.@@@@1@19@@oe@2-2-2013
21471001@unknown@formal@none@1@S@Chairman Jamie Whitten (D., Miss.) of the House Appropriations Committee proposed a $2.85 billion emergency funding package to assist California's recovery from last week's earthquake and extend further aid to East Coast victims of Hurricane Hugo.@@@@1@36@@oe@2-2-2013
21471002@unknown@formal@none@1@S@The sweeping measure incorporates $500 million in small-business loans, $1 billion in highway-construction funds and $1.25 billion divided between general emergency assistance and a reserve to be available to President Bush to meet unanticipated costs from the two disasters.@@@@1@39@@oe@2-2-2013
21471003@unknown@formal@none@1@S@The funds would be attached to a stop-gap spending bill required to keep most of the government operating past Wednesday.@@@@1@20@@oe@2-2-2013
21471004@unknown@formal@none@1@S@The measure is scheduled to be taken up by the Appropriations Committee today.@@@@1@13@@oe@2-2-2013
21471005@unknown@formal@none@1@S@The panel is expected to add provisions waiving restrictions on the use of federal highway funds and may also shift money within the package to bolster the share for the Small Business Administration.@@@@1@33@@oe@2-2-2013
21471006@unknown@formal@none@1@S@"We will support it, we will thank him, and we will augment it where appropriate," said Rep. Vic Fazio (D., Calif.).@@@@1@21@@oe@2-2-2013
21471007@unknown@formal@none@1@S@Dubbed the "Dire Emergency Supplemental to Meet the Needs of Natural Disasters of National Significance," the measure is vintage Whitten in asserting federal responsibility and in disdaining budget impediments.@@@@1@29@@oe@2-2-2013
21471008@unknown@formal@none@1@S@"Such other amounts will be made available subsequently as required," the legislation reads, and the new obligations "shall not be a charge against the Budget Act, Gramm-Rudman-Hollings, or other ceilings.@@@@1@30@@oe@2-2-2013
21472001@unknown@formal@none@1@S@Moody's Investors Service Inc. said it lowered the ratings of some $145 million of Pinnacle debt because of "accelerating deficiency in liquidity," which it said was evidenced by Pinnacle's elimination of dividend payments.@@@@1@33@@oe@2-2-2013
21472002@unknown@formal@none@1@S@Henry Sargent Jr., Pinnacle executive vice president, said the action "won't really have any effect on us.@@@@1@17@@oe@2-2-2013
21472003@unknown@formal@none@1@S@We aren't selling bonds right now, and I don't think it will affect the value of our existing bonds."@@@@1@19@@oe@2-2-2013
21472004@unknown@formal@none@1@S@The rating agency said it lowered the ratings on $75 million of the holding company's convertible subordinated Eurodebentures to B-3 from B-1.@@@@1@22@@oe@2-2-2013
21472005@unknown@formal@none@1@S@Moody's said it also lowered the ratings of $70 million of Pinnacle's MeraBank thrift unit long-term deposits to B-3 from B-2, and on its subordinated debt to Ca from Caa.@@@@1@30@@oe@2-2-2013
21472006@unknown@formal@none@1@S@MeraBank's rating for short-term deposits remains Not Prime.@@@@1@8@@oe@2-2-2013
21472007@unknown@formal@none@1@S@Securities of MeraBank were placed under review last May, and will remain under review for downgrade, the agency said.@@@@1@19@@oe@2-2-2013
21473001@unknown@formal@none@1@S@First, the somewhat affected idealism of the 1960s.@@@@1@8@@oe@2-2-2013
21473002@unknown@formal@none@1@S@Then, the all-too-sincere opportunism of the 1970s and 1980s.@@@@1@9@@oe@2-2-2013
21473003@unknown@formal@none@1@S@What now?@@@@1@2@@oe@2-2-2013
21473004@unknown@formal@none@1@S@To judge from novels that mirror the contemporary scene, we're back in the age of anxiety.@@@@1@16@@oe@2-2-2013
21473005@unknown@formal@none@1@S@Where '60s dropouts professed to scorn middle-class life and ambitious yuppies hoped to leave it far behind as they scaled the upper reaches of success, it now seems that so many people feel they're slipping between the cracks, that middle-class life is viewed with nostalgia or outright longing.@@@@1@48@@oe@2-2-2013
21473006@unknown@formal@none@1@S@Lisa Zeidner's third novel, "Limited Partnerships" (North Point Press, 256 pages, $18.95) is a stylish, funny and thoughtful look at the way love relationships are affected by the pressures of money, or, more specifically, the lack of it.@@@@1@38@@oe@2-2-2013
21473007@unknown@formal@none@1@S@Nora Worth and Malcolm DeWitt, 33 and 39 respectively, live together in a townhouse in a transitional Philadelphia neighborhood.@@@@1@19@@oe@2-2-2013
21473008@unknown@formal@none@1@S@Malcolm, a former film-maker turned architect, has just seen his first big chance at a lucrative commission turn to dust with the arrest of his shady, obnoxious client, a fly-by-night real estate developer.@@@@1@33@@oe@2-2-2013
21473009@unknown@formal@none@1@S@Nora, who still has artistic aspirations, knows she is lucky to be working as a food stylist, prepping pies, burgers, frosty cold drinks and other comestibles to look as appetizing as possible in front of the camera.@@@@1@37@@oe@2-2-2013
21473010@unknown@formal@none@1@S@After all, she reasons, "there were housewives with Nikons and degrees from cooking schools in France who would kill for her job."@@@@1@22@@oe@2-2-2013
21473011@unknown@formal@none@1@S@But Nora and Malcolm feel trapped.@@@@1@6@@oe@2-2-2013
21473012@unknown@formal@none@1@S@They seem to be having the "worst of both worlds: artistic work with none of art's integrity and no control over the finished product; self-employment without fun or profit."@@@@1@29@@oe@2-2-2013
21473013@unknown@formal@none@1@S@It's a downbeat, "thirtysomething" world, in which bright, still youngish people are engaged in a glossy version of day labor, doing free-lance, semi-professional work that brings little satisfaction or security but that they know they should be grateful to do.@@@@1@40@@oe@2-2-2013
21473014@unknown@formal@none@1@S@Uncertainty dogs every aspect of their lives.@@@@1@7@@oe@2-2-2013
21473015@unknown@formal@none@1@S@Malcolm faces bankruptcy and an IRS audit, but Nora finds an extra $30,000 in her bank account, suddenly increasing her available funds some fifteenfold.@@@@1@24@@oe@2-2-2013
21473016@unknown@formal@none@1@S@While she is wondering whether to live it up, and do something even more dramatic, say get married, her life is further complicated by the reappearance of an old flame, David, a film critic and actor who always seems to be just on the brink of stardom.@@@@1@47@@oe@2-2-2013
21473017@unknown@formal@none@1@S@In novels of an earlier vintage, David would have represented excitement and danger; Malcolm, placid, middle-class security.@@@@1@17@@oe@2-2-2013
21473018@unknown@formal@none@1@S@The irony in this novel is that neither man represents a "safe" middle-class haven: Nora's decision is between emotional excitement and emotional security, with no firm economic base anywhere.@@@@1@29@@oe@2-2-2013
21473019@unknown@formal@none@1@S@The characters confront a world in which it seems increasingly difficult to find a "middle way" between the extremes of success and failure, wealth and poverty.@@@@1@26@@oe@2-2-2013
21473020@unknown@formal@none@1@S@In making Malcolm and Nora such wonderfully representative specimens of their class and generation, Ms. Zeidner has somewhat neglected the task of making them distinctively individual characters.@@@@1@27@@oe@2-2-2013
21473021@unknown@formal@none@1@S@The humor of the story owes much to the fact that no hearts (even the characters' own) are likely to bleed for the plight of health-food eaters.@@@@1@27@@oe@2-2-2013
21473022@unknown@formal@none@1@S@But readers may well feel the pangs of recognition.@@@@1@9@@oe@2-2-2013
21473023@unknown@formal@none@1@S@In any case, the foundering middle classes aren't the only ones in trouble -- or whose troubles provide material for fiction.@@@@1@21@@oe@2-2-2013
21473024@unknown@formal@none@1@S@"Rascal Money" (Contemporary Books, 412 pages, $17.95), a novel by consultant and business analyst Joseph R. Garber, tells the story of an innovative, well-run, widely respected computer manufacturing company called PegaSys as it faces a hostile takeover attempt by AIW, a much smaller corporation that is so incompetently managed as to constitute a standing joke in the business world.@@@@1@59@@oe@2-2-2013
21473025@unknown@formal@none@1@S@Patrician, dynamic Scott Thatcher, founder and head of PegaSys, initially finds the takeover threat risible.@@@@1@15@@oe@2-2-2013
21473026@unknown@formal@none@1@S@But, as he and his skilled team soon discover, they're up against two factors they hadn't counted on: first, a business climate in which a failing company with few assets and many debts can borrow against the assets of the successful company it hopes to acquire in order to finance the takeover; second, that standing behind AIW is a sinister consortium of much bigger, shadier and shrewder foreign interests secretly providing the money and muscle for the deal.@@@@1@78@@oe@2-2-2013
21473027@unknown@formal@none@1@S@Mr. Garber manages to invest this tale of financial wars with the colorful characters and fast-paced action of a suspense novel.@@@@1@21@@oe@2-2-2013
21473028@unknown@formal@none@1@S@And like a spy or mystery story, this novel has strong elements of allegory, as the good and evil forces battle it out.@@@@1@23@@oe@2-2-2013
21473029@unknown@formal@none@1@S@Mr. Garber depicts these moral qualities with the broad brush strokes of a satire that occasionally descends to the realm of cliched caricatures.@@@@1@23@@oe@2-2-2013
21473030@unknown@formal@none@1@S@Standard-issue portraits of flaky Californians, snobbish homosexuals and Neanderthal union leaders undermine the force of the author's perceptions.@@@@1@18@@oe@2-2-2013
21473031@unknown@formal@none@1@S@Yet the heavy-handedness of the satire also can be effective in a book like this: If the head of AIW were not portrayed as an utterly contemptible, malicious dolt, we would not much care whether his schemes were defeated, and would not be so diverted in the process.@@@@1@48@@oe@2-2-2013
21473032@unknown@formal@none@1@S@Ms. Rubin is a free-lance writer based in Los Angeles.@@@@1@10@@oe@2-2-2013
21474001@unknown@formal@none@1@S@High-definition television promises to be the TV of tomorrow, so it is a natural multibillion-dollar market.@@@@1@16@@oe@2-2-2013
21474002@unknown@formal@none@1@S@Although major U.S. manufacturers have all but ceded the main segment of that future business to Japan, not everyone here is ready to give up.@@@@1@25@@oe@2-2-2013
21474003@unknown@formal@none@1@S@A handful of small U.S. companies are struggling to develop the technology to build the screens for the thin, high-quality televisions that are expected to hang on living room walls by the end of the 1990s.@@@@1@36@@oe@2-2-2013
21474004@unknown@formal@none@1@S@With only small help from the government, these start-up concerns are trying to compete with the Goliaths of the Japanese consumer electronics industry, which enjoy considerable backing from the Japanese government.@@@@1@31@@oe@2-2-2013
21474005@unknown@formal@none@1@S@Photonics Technology Inc. of Northwood, Ohio, aims to use a new form of plasma technology to put movie-quality images on a TV display that is 40 inches in diameter but only a few inches thick.@@@@1@35@@oe@2-2-2013
21474006@unknown@formal@none@1@S@Planar Systems Inc. of Beaverton, Ore., the largest of these firms, with $20 million in annual revenue, has similar plans.@@@@1@20@@oe@2-2-2013
21474007@unknown@formal@none@1@S@It already has had success in electroluminescence, another promising technology adaptable for high-definition television.@@@@1@14@@oe@2-2-2013
21474008@unknown@formal@none@1@S@Two other firms, Ovonic Imaging Systems Inc. of Troy, Mich., and Magnascreen Corp. of Pittsburgh are developing a variation of the flat-panel screens called active-matrix liquid crystal displays.@@@@1@28@@oe@2-2-2013
21474009@unknown@formal@none@1@S@The new technologies are intended to retire the cathode-ray tube, which accounts for most of the bulk of the conventional TV set.@@@@1@22@@oe@2-2-2013
21474010@unknown@formal@none@1@S@Replacing the cathode-ray tube with a large, thin screen is the key to the creation of a high-definition television, or HDTV, which is expected to become a $30 billion business world-wide within a decade.@@@@1@34@@oe@2-2-2013
21474011@unknown@formal@none@1@S@Large U.S. companies are interested in other segments of the HDTV business, such as signal-processing and broadcast equipment.@@@@1@18@@oe@2-2-2013
21474012@unknown@formal@none@1@S@But except for Zenith Electronics Corp. and International Business Machines Corp., which is collaborating with Toshiba on computer displays, they are poorly positioned to exploit advances in large panels.@@@@1@29@@oe@2-2-2013
21474013@unknown@formal@none@1@S@General Electric Co. recently sold off its interests in liquid-crystal displays to Thompson-CSF of France.@@@@1@15@@oe@2-2-2013
21474014@unknown@formal@none@1@S@"We found the market not developing as we thought it would," a GE spokesman says.@@@@1@15@@oe@2-2-2013
21474015@unknown@formal@none@1@S@The small U.S. firms are persisting because of their strong positions in patents, and because the prize is still there to be seized.@@@@1@23@@oe@2-2-2013
21474016@unknown@formal@none@1@S@"No one yet has shown the ability to manufacture these panels" at commercial costs, says Zvi Yaniv, the president of Ovonic Imaging.@@@@1@22@@oe@2-2-2013
21474017@unknown@formal@none@1@S@He says he thinks his company is just a few years from doing that.@@@@1@14@@oe@2-2-2013
21474018@unknown@formal@none@1@S@The Bush administration, hearing conflicting advice about what its role in HDTV should be, isn't doing much for now.@@@@1@19@@oe@2-2-2013
21474019@unknown@formal@none@1@S@The only material support it is extending to the struggling U.S. industry is $30 million in awards from the Pentagon's Defense Advanced Research Projects Agency.@@@@1@25@@oe@2-2-2013
21474020@unknown@formal@none@1@S@The DARPA funds are a pittance compared with what Japan and other prospective competitors are spending.@@@@1@16@@oe@2-2-2013
21474021@unknown@formal@none@1@S@The Commerce Department estimates that Japanese government and industry spending on HDTV research is already over $1 billion.@@@@1@18@@oe@2-2-2013
21474022@unknown@formal@none@1@S@"Unless it gets more help, the U.S. industry won't have a chance," says Peter Friedman, Photonics's executive vice president.@@@@1@19@@oe@2-2-2013
21474023@unknown@formal@none@1@S@Thus far, almost all of the basic technology relating to high-definition television has come from U.S. laboratories.@@@@1@17@@oe@2-2-2013
21474024@unknown@formal@none@1@S@But Peter Brody, Magnascreen's president, says Japanese companies are poised to snatch the technology and put it to commercial use, just as they did with earlier U.S. innovations in color television and video recording.@@@@1@34@@oe@2-2-2013
21474025@unknown@formal@none@1@S@In the 1970s, Mr. Brody helped develop the first display panels based on active-matrix liquid crystals at Westinghouse Electric Corp.'s research labs in Pittsburgh.@@@@1@24@@oe@2-2-2013
21474026@unknown@formal@none@1@S@The panels are like oversized semiconductors surfaced with a million or more picture elements, each contributing to the color and tone of a TV image.@@@@1@25@@oe@2-2-2013
21474027@unknown@formal@none@1@S@In 1979, however, Westinghouse abandoned the project along with its stake in advanced television.@@@@1@14@@oe@2-2-2013
21474028@unknown@formal@none@1@S@Mr. Brody left the company to find other backers.@@@@1@9@@oe@2-2-2013
21474029@unknown@formal@none@1@S@He has a claim to the right to commercialize the Westinghouse patents, but he contends that those patents are being infringed by a number of Japanese producers.@@@@1@27@@oe@2-2-2013
21474030@unknown@formal@none@1@S@"Most American investors have just given up," Mr. Brody says.@@@@1@10@@oe@2-2-2013
21474031@unknown@formal@none@1@S@"They aren't prepared to compete in an area where the Japanese want to enter."@@@@1@14@@oe@2-2-2013
21474032@unknown@formal@none@1@S@Many critics question the industry's need for federal support; the Pentagon justifies its help on national-security grounds.@@@@1@17@@oe@2-2-2013
21474033@unknown@formal@none@1@S@"We don't see a domestic source for some of our {HDTV} requirements, and that's a source of concern," says Michael Kelly, director of DARPA's defense manufacturing office.@@@@1@27@@oe@2-2-2013
21474034@unknown@formal@none@1@S@So DARPA is trying to keep the industry interested in developing large display panels by doling out research funds.@@@@1@19@@oe@2-2-2013
21474035@unknown@formal@none@1@S@HDTV already has some military applications, such as creating realistic flight simulations and transmitting information to combat commanders.@@@@1@18@@oe@2-2-2013
21474036@unknown@formal@none@1@S@The Navy is ordering displays for its Aegis cruisers and the Army wants smaller versions for its Abrams battle tanks.@@@@1@20@@oe@2-2-2013
21474037@unknown@formal@none@1@S@The Commerce Department also is trying to encourage HDTV because of the benefits that could spin off to the semiconductor and computer industries.@@@@1@23@@oe@2-2-2013
21474038@unknown@formal@none@1@S@"It isn't just yuppie television," argues Jack Clifford, director of the department's office of microelectronics and instrumentation.@@@@1@17@@oe@2-2-2013
21474039@unknown@formal@none@1@S@"The industry will create industrial products such as displays for work stations and medical diagnostic equipment before it acquires a mass consumer market."@@@@1@23@@oe@2-2-2013
21474040@unknown@formal@none@1@S@Although some HDTV advocates are calling for other forms of aid, such as antitrust relief for research consortia, the small firms simply would prefer more DARPA funds.@@@@1@27@@oe@2-2-2013
21474041@unknown@formal@none@1@S@Each claims to possess the right technology and wants just a bit more money to make it commercial.@@@@1@18@@oe@2-2-2013
21474042@unknown@formal@none@1@S@They also want U.S. trade policy to reflect the Pentagon and Commerce department's concern over their future.@@@@1@17@@oe@2-2-2013
21474043@unknown@formal@none@1@S@They all are strongly opposed to a petition from several Japanese TV manufacturers, including Matsushita, Hitachi, and Toshiba, to exempt portable color TVs with liquid-crystal displays from anti-dumping duties that the U.S. imposes on the larger Japanese color TVs.@@@@1@39@@oe@2-2-2013
21474044@unknown@formal@none@1@S@And they want the U.S. to help them sell overseas.@@@@1@10@@oe@2-2-2013
21474045@unknown@formal@none@1@S@Planar President James Hurd says he has to pay tariffs as high as 15% to sell his display panels in Japan and South Korea, while panels from those countries enter the U.S. duty-free.@@@@1@33@@oe@2-2-2013
21474046@unknown@formal@none@1@S@"This isn't a technology issue, but an attitude issue," he says.@@@@1@11@@oe@2-2-2013
21474047@unknown@formal@none@1@S@"We just haven't learned what it takes to compete.@@@@1@9@@oe@2-2-2013
21475001@unknown@formal@none@1@S@Burmah Oil PLC, a British independent oil and specialty-chemicals marketing concern, said SHV Holdings N.V. has built up a 7.5% stake in the company.@@@@1@24@@oe@2-2-2013
21475002@unknown@formal@none@1@S@The holding of 13.6 million shares is up from a 6.7% stake that Burmah announced SHV held as of last Monday.@@@@1@21@@oe@2-2-2013
21475003@unknown@formal@none@1@S@SHV, of the Netherlands, which last year merged its North Sea oil and gas operations with those of Calor Group PLC and which owns 40% of Calor, was identified as a possible suitor for Burmah.@@@@1@35@@oe@2-2-2013
21475004@unknown@formal@none@1@S@Burmah said it hadn't held any discussions with SHV and that "no deal of any nature is in contemplation.@@@@1@19@@oe@2-2-2013
21476001@unknown@formal@none@1@S@The top state environmental official in Massachusetts said Clean Harbors Inc.'s environmental-impact statement for a proposed incinerator in Braintree was inadequate.@@@@1@21@@oe@2-2-2013
21476002@unknown@formal@none@1@S@The official, John DeVillars, asked Clean Harbors for more information before ruling on a permit for the site.@@@@1@18@@oe@2-2-2013
21476003@unknown@formal@none@1@S@Critics of the plan, including the town of Braintree, say the incinerator is a health hazard.@@@@1@16@@oe@2-2-2013
21476004@unknown@formal@none@1@S@Clean Harbors, based in Quincy, said it "will proceed expeditiously" to submit the data requested.@@@@1@15@@oe@2-2-2013
21476005@unknown@formal@none@1@S@Alan McKim, chief executive officer of Clean Harbors said he was "very much encouraged" by the official's praise of Clean Harbors for the quality of some of the data in the report.@@@@1@32@@oe@2-2-2013
21477001@unknown@formal@none@1@S@Citizens & Southern Corp. said it signed a definitive agreement to acquire Security Pacific Corp.'s New York-based factoring unit.@@@@1@19@@oe@2-2-2013
21477002@unknown@formal@none@1@S@Terms of the bank holding companies' agreement weren't disclosed.@@@@1@9@@oe@2-2-2013
21477003@unknown@formal@none@1@S@Factoring involves the purchase and collection of another company's receivables.@@@@1@10@@oe@2-2-2013
21477004@unknown@formal@none@1@S@Citizens, based in Atlanta, said it has about $4.6 billion in factored sales annually; the Security Pacific unit has about $1.8 billion annually.@@@@1@23@@oe@2-2-2013
21477005@unknown@formal@none@1@S@Security Pacific's factoring business works with companies in the apparel, textile and food industries, among others.@@@@1@16@@oe@2-2-2013
21478001@unknown@formal@none@1@S@The Office of Thrift Supervision banned B.J. Garman, a former director of the failed Vision Banc Savings Association of Kingsville, Texas, from working in any financial institution insured by the government.@@@@1@31@@oe@2-2-2013
21478002@unknown@formal@none@1@S@The office, a Treasury Department unit that is the successor to the Federal Home Loan Bank Board, said this was the first announcement of an enforcement action since this year's thrift-bailout legislation ordered that all such actions by federal banking regulators be made public.@@@@1@44@@oe@2-2-2013
21478003@unknown@formal@none@1@S@Generally, regulators haven't announced enforcement actions in the past.@@@@1@9@@oe@2-2-2013
21478004@unknown@formal@none@1@S@Indeed, the OTS said that before the law took effect Aug. 9, it banned another "key Vision Banc insider" from insured financial institutions.@@@@1@23@@oe@2-2-2013
21478005@unknown@formal@none@1@S@That individual wasn't identified.@@@@1@4@@oe@2-2-2013
21478006@unknown@formal@none@1@S@Vision Banc was placed in government conservatorship in March, and it operates under the control of the Resolution Trust Corp., the agency created to sell or liquidate insolvent thrifts.@@@@1@29@@oe@2-2-2013
21478007@unknown@formal@none@1@S@The OTS didn't say specifically why the action was taken against Ms. Garman.@@@@1@13@@oe@2-2-2013
21478008@unknown@formal@none@1@S@However, it said examiners found a variety of insider dealings at the thrift, including "extraordinary loan commissions" paid to a firm associated with Vision Banc officials, and loans diverted through borrowers back to the thrift officials.@@@@1@36@@oe@2-2-2013
21478009@unknown@formal@none@1@S@Ms. Garman couldn't be reached for comment.@@@@1@7@@oe@2-2-2013
21479001@unknown@formal@none@1@S@Arizona Instrument Corp. said it expects to post a third-quarter net loss of about $600,000, or 25 cents to 27 cents a share, compared with net income of $214,000, or 10 cents a share, a year earlier.@@@@1@37@@oe@2-2-2013
21479002@unknown@formal@none@1@S@The Tempe, Ariz., maker of underground fuel-storage systems said the most recent period was affected by customers' problems complying with recent Environmental Protection Agency regulations.@@@@1@25@@oe@2-2-2013
21479003@unknown@formal@none@1@S@For the nine months, the company expects to post a net loss of about $879,000, or 35 cents to 40 cents a share, on revenue of $6.5 million.@@@@1@28@@oe@2-2-2013
21479004@unknown@formal@none@1@S@A year earlier, it had a loss of $199,203 or nine cents a share, on revenue of $7.6 million.@@@@1@19@@oe@2-2-2013
21480001@unknown@formal@none@1@S@Growth is good.@@@@1@3@@oe@2-2-2013
21480002@unknown@formal@none@1@S@At least, that's a theme emerging among many money managers who are anxious both to preserve the handsome stock-market gains they have already achieved this year and to catch the next wave of above-average performers.@@@@1@35@@oe@2-2-2013
21480003@unknown@formal@none@1@S@They are starting to buy growth stocks.@@@@1@7@@oe@2-2-2013
21480004@unknown@formal@none@1@S@Remember them?@@@@1@2@@oe@2-2-2013
21480005@unknown@formal@none@1@S@The upper echelon of this group were shares of the "nifty 50" companies whose profits of the 1960s and early 1970s grew steadily, if not spectacularly, through thick and thin.@@@@1@30@@oe@2-2-2013
21480006@unknown@formal@none@1@S@That sort of workhorse performance sounds made to order for a time when corporate profits overall have been weakening from the brisk increases of recent years.@@@@1@26@@oe@2-2-2013
21480007@unknown@formal@none@1@S@The current flood of third-quarter reports are producing many more negative surprises than positive ones.@@@@1@15@@oe@2-2-2013
21480008@unknown@formal@none@1@S@Those are unwelcome trends in a year that the Dow Jones Industrial Average has risen 23% so far, even with the 190.58-point plunge on Oct. 13; broader market measures are in the same neighborhood.@@@@1@34@@oe@2-2-2013
21480009@unknown@formal@none@1@S@The question for investors is, how to protect these returns and yet reach a little for additional gains.@@@@1@18@@oe@2-2-2013
21480010@unknown@formal@none@1@S@That's the path of reasoning leading to growth stocks.@@@@1@9@@oe@2-2-2013
21480011@unknown@formal@none@1@S@"I think it is a good theme for what looks to be an uncertain market," says Steven Einhorn, partner at Goldman Sachs.@@@@1@22@@oe@2-2-2013
21480012@unknown@formal@none@1@S@Growth stocks may be as big as Philip Morris or medium-sized such as Circuit City Stores, but their common characteristic is a history of increasing profits on the order of at least 15% to 20% a year, money managers say.@@@@1@40@@oe@2-2-2013
21480013@unknown@formal@none@1@S@"The period when growth stocks should be performing well is when their earnings are growing at a superior rate to the general level of corporate profits," says Stephen Boesel, president of T. Rowe Price's Growth and Income Fund.@@@@1@38@@oe@2-2-2013
21480014@unknown@formal@none@1@S@Growth stocks also are attractive in periods of market volatility, which many investors and analysts expect in the weeks ahead as everybody tries to discern where the economy is heading.@@@@1@30@@oe@2-2-2013
21480015@unknown@formal@none@1@S@This kind of jumpy uncertainty reminds John Calverley, senior economist for American Express Bank, of the 1969-72 period, when the industrial average rolled through huge ranges and investors flocked to the shares of companies with proven earnings records, which became known as the "nifty 50."@@@@1@45@@oe@2-2-2013
21480016@unknown@formal@none@1@S@And they will again, say money-manager proponents of the growth-stock theme.@@@@1@11@@oe@2-2-2013
21480017@unknown@formal@none@1@S@Cabanne Smith, president of a money management company bearing his name, predicts that investment companies using computers to identify companies with earnings "momentum" will climb on the growth-stock bandwagon as the overall corporate earnings outlook deteriorates further.@@@@1@37@@oe@2-2-2013
21480018@unknown@formal@none@1@S@He also thinks foreign investors, who are showing signs of more discriminate investing, will join the pursuit and pump up prices.@@@@1@21@@oe@2-2-2013
21480019@unknown@formal@none@1@S@"We're just seeing the beginning of a shift," Mr. Smith says.@@@@1@11@@oe@2-2-2013
21480020@unknown@formal@none@1@S@Mr. Smith recommends Cypress Semiconductor that is currently showing a robust 63% earnings growth rate.@@@@1@15@@oe@2-2-2013
21480021@unknown@formal@none@1@S@Ronald Sloan, executive vice president of Siebel Capital Management, likes Wellman Inc., a company that recycles plastic into synthetic fibers for carpeting.@@@@1@22@@oe@2-2-2013
21480022@unknown@formal@none@1@S@Mr. Sloan praises the company as recession resistant and notes that it has an annual earnings growth rate of 32% a year over the past five years.@@@@1@27@@oe@2-2-2013
21480023@unknown@formal@none@1@S@Wellman stock closed Friday at 39 3/8, up 1/8; Mr. Sloan thinks that in a year it could hit 60.@@@@1@20@@oe@2-2-2013
21480024@unknown@formal@none@1@S@Others preach the gospel of buying only blue-chip growth stocks.@@@@1@10@@oe@2-2-2013
21480025@unknown@formal@none@1@S@Carmine Grigoli, chief market strategist for First Boston, who still says, "We expect the Dow average {to be at} 3000 by mid-1990," nonetheless foresees a sluggish economy in the meantime.@@@@1@30@@oe@2-2-2013
21480026@unknown@formal@none@1@S@He recommends such blue-chip growth stalwarts as Philip Morris, PepsiCo, CPC International, Reebok International, and Limited Inc.@@@@1@17@@oe@2-2-2013
21480027@unknown@formal@none@1@S@All have a fiveyear earnings growth rate of more than 20% a year.@@@@1@13@@oe@2-2-2013
21480028@unknown@formal@none@1@S@Some money managers are pursuing growth stocks at the expense of those that rise and fall along with the economic cycle.@@@@1@21@@oe@2-2-2013
21480029@unknown@formal@none@1@S@"One of the stories of the fourth quarter is that we will get an unusual number of earnings disappointments from companies sensitive to the economy," says Mr. Boesel of T. Rowe Price.@@@@1@32@@oe@2-2-2013
21480030@unknown@formal@none@1@S@James Wright, chief investment officer for Banc One Asset Management, says, "We've been selling a disproportionate share of cyclical companies and buying a disproportionate share of high earnings stocks."@@@@1@29@@oe@2-2-2013
21480031@unknown@formal@none@1@S@He recently trimmed his portfolio of International Paper, Dow Chemical, Quantum Chemical, International Business Machines and Digital Equipment.@@@@1@18@@oe@2-2-2013
21480032@unknown@formal@none@1@S@He is putting money in Dress Barn, Circuit City Stores, Bruno's, and Rubbermaid.@@@@1@13@@oe@2-2-2013
21480033@unknown@formal@none@1@S@Big cyclical companies are using "all the tricks they can to stabilize earnings," says Mr. Sloan.@@@@1@16@@oe@2-2-2013
21480034@unknown@formal@none@1@S@He cites IBM, which reported a 30% earnings decline in the third quarter, and which last week announced a $1 billion buy-back of its shares.@@@@1@25@@oe@2-2-2013
21480035@unknown@formal@none@1@S@"What they are telling you is that they don't have the ability to generate higher returns internally," says Mr. Sloan.@@@@1@20@@oe@2-2-2013
21480036@unknown@formal@none@1@S@"When they are buying back stock at 10 times earnings, they are suggesting that the rate of return on competing internal projects is below" returns on the stock.@@@@1@28@@oe@2-2-2013
21480037@unknown@formal@none@1@S@IBM says it considers its shares a good investment.@@@@1@9@@oe@2-2-2013
21480038@unknown@formal@none@1@S@But not all strategists or money managers are ready to throw in the towel completely on cyclicals.@@@@1@17@@oe@2-2-2013
21480039@unknown@formal@none@1@S@Growth stocks may underperform cyclical stocks next year if the Federal Reserve begins to let interest rates drift sufficiently lower to boost the economy.@@@@1@24@@oe@2-2-2013
21480040@unknown@formal@none@1@S@Goldman Sachs's Mr. Einhorn, for one, subscribes to that scenario.@@@@1@10@@oe@2-2-2013
21480041@unknown@formal@none@1@S@He suggests investors think about buying cyclical shares in the weeks ahead, as well as growth issues.@@@@1@17@@oe@2-2-2013
21480042@unknown@formal@none@1@S@Friday's Market Activity@@@@1@3@@oe@2-2-2013
21480043@unknown@formal@none@1@S@Stock prices finished about unchanged Friday in quiet expiration trading.@@@@1@10@@oe@2-2-2013
21480044@unknown@formal@none@1@S@Traders anticipated a volatile session due to the October expiration of stock-index futures and options, and options on individual stocks.@@@@1@20@@oe@2-2-2013
21480045@unknown@formal@none@1@S@But there were fewer price swings than expected.@@@@1@8@@oe@2-2-2013
21480046@unknown@formal@none@1@S@Buy order imbalances on several big stocks were posted by the New York Stock Exchange.@@@@1@15@@oe@2-2-2013
21480047@unknown@formal@none@1@S@But block trading desks and money managers made a concerted effort to meet the imbalances with stock to sell, one trader said.@@@@1@22@@oe@2-2-2013
21480048@unknown@formal@none@1@S@As a result, the Dow Jones Industrial Average drifted in narrow ranges in the final hour of trading, and closed 5.94 higher to 2689.14.@@@@1@24@@oe@2-2-2013
21480049@unknown@formal@none@1@S@New York Stock Exchange volume was 164,830,000.@@@@1@7@@oe@2-2-2013
21480050@unknown@formal@none@1@S@Advancers on the Big Board lagged decliners 662 to 829.@@@@1@10@@oe@2-2-2013
21480051@unknown@formal@none@1@S@For the week, the industrial average gained 119.88 points, or 4.7%, the biggest weekly point advance ever and a better than 50% rebound from the 190.58 point loss the industrial average logged Oct. 13.@@@@1@34@@oe@2-2-2013
21480052@unknown@formal@none@1@S@Broader market averages were little changed in the latest session.@@@@1@10@@oe@2-2-2013
21480053@unknown@formal@none@1@S@Standard & Poor's 500-Stock Index gained 0.03 to 347.16, the Dow Jones Equity Market Index fell 0.02 to 325.50, and the New York Stock Exchange Composite Index fell 0.05 to 192.12.@@@@1@31@@oe@2-2-2013
21480054@unknown@formal@none@1@S@Most of last week's surge in the industrial average came on Monday, when the average rose 88.12 points as market players snapped up blue-chip issues and shunned the broad market.@@@@1@30@@oe@2-2-2013
21480055@unknown@formal@none@1@S@That contrast was reflected in the smaller weekly percentage gains recorded by the broader averages.@@@@1@15@@oe@2-2-2013
21480056@unknown@formal@none@1@S@The S&P 500 rose 4%, the Dow Jones Equity Market index gained 3.7% and the New York Stock Exchange composite index added 3.5%.@@@@1@23@@oe@2-2-2013
21480057@unknown@formal@none@1@S@The Dow Jones Transportation Average fell 32.71 to 1230.80 amid renewed weakness in the airline sector.@@@@1@16@@oe@2-2-2013
21480058@unknown@formal@none@1@S@UAL skidded 21 5/8 to 168 1/2 on 2.2 million shares.@@@@1@11@@oe@2-2-2013
21480059@unknown@formal@none@1@S@On the week, UAL was down nearly 40%.@@@@1@8@@oe@2-2-2013
21480060@unknown@formal@none@1@S@The latest drop followed a decision by British Airways, which had supported the $300-a-share buy-out offer for UAL from a labor-management group, not to participate in any revised bid.@@@@1@29@@oe@2-2-2013
21480061@unknown@formal@none@1@S@British Airways fell 1 to 31 7/8.@@@@1@7@@oe@2-2-2013
21480062@unknown@formal@none@1@S@While most other airline issues took their cue from UAL, USAir Group rose 1 3/4 to 43 1/4 on 1.5 million shares amid speculation about a possible takeover proposal from investor Marvin Davis.@@@@1@33@@oe@2-2-2013
21480063@unknown@formal@none@1@S@USA Today reported that Mr. Davis, who had pursued UAL before dropping his bid Wednesday, has acquired a stake of about 3% in USAir.@@@@1@24@@oe@2-2-2013
21480064@unknown@formal@none@1@S@Unocal fell 1 1/2 to 52 1/4 and Burlington Resources declined 7/8 to 45 5/8.@@@@1@15@@oe@2-2-2013
21480065@unknown@formal@none@1@S@At a meeting with analysts, British Petroleum officials dispelled speculation that the company may take over a U.S. oil company, according to Dow Jones Professional Investor Report.@@@@1@27@@oe@2-2-2013
21480066@unknown@formal@none@1@S@Both Unocal and Burlington had been seen as potential targets for a British Petroleum bid.@@@@1@15@@oe@2-2-2013
21480067@unknown@formal@none@1@S@Paper and forest-products stocks declined after Smith Barney, Harris Upham & Co. lowered investment ratings on a number of issues in the two sectors, based on a forecast that pulp prices will fall sharply.@@@@1@34@@oe@2-2-2013
21480068@unknown@formal@none@1@S@International Paper dropped 5/8 to 51, Georgia-Pacific fell 1 3/4 to 56 1/4, Stone Container tumbled 1 1/2 to 26 5/8, Great Northern Nekoosa went down 5/8 to 38 3/8 and Weyerhaeuser lost 7/8 to 28 1/8.@@@@1@37@@oe@2-2-2013
21480069@unknown@formal@none@1@S@Dun & Bradstreet dropped 3/4 to 51 1/8 on 1.9 million shares on uncertainty about the company's earnings prospects.@@@@1@19@@oe@2-2-2013
21480070@unknown@formal@none@1@S@Merrill Lynch cut its rating and 1990 earnings estimate Thursday, citing weakness in its credit-rating business.@@@@1@16@@oe@2-2-2013
21480071@unknown@formal@none@1@S@Lamson & Sessions, which posted sharply lower third-quarter earnings and forecast that results for the fourth quarter might be "near break-even," fell 1/2 to 9 1/4.@@@@1@26@@oe@2-2-2013
21480072@unknown@formal@none@1@S@Winnebago Industries slid 5/8 to 5 1/4.@@@@1@7@@oe@2-2-2013
21480073@unknown@formal@none@1@S@The company, which reported that its loss for the fiscal quarter ended Aug. 26 widened from a year earlier, cut its semiannual dividend in half in response to the earnings weakness.@@@@1@31@@oe@2-2-2013
21480074@unknown@formal@none@1@S@MassMutual Corporate Investors fell 3 to 29 after declaring a quarterly dividend of 70 cents a share, down from 95 cents a share.@@@@1@23@@oe@2-2-2013
21481001@unknown@formal@none@1@S@Stoneridge Resources Inc. said it will begin an offering of rights equivalent to 2.6 million common shares and valued at $22,750,000.@@@@1@21@@oe@2-2-2013
21481002@unknown@formal@none@1@S@The Bloomfield Hills, Mich.-based real-estate holding company said it will offer the rights at $8.75 a share to shareholders of record on Oct. 26.@@@@1@24@@oe@2-2-2013
21481003@unknown@formal@none@1@S@The offering is scheduled to expire on Nov. 30.@@@@1@9@@oe@2-2-2013
21481004@unknown@formal@none@1@S@The company said it will use the proceeds of the offering for debt reduction and general corporate purposes, including acquisitions.@@@@1@20@@oe@2-2-2013
21481005@unknown@formal@none@1@S@Stockholders may buy one share at the subscription price for every four shares of stock they own.@@@@1@17@@oe@2-2-2013
21481006@unknown@formal@none@1@S@Stockholders who exercise all their rights may buy additional shares, the company said.@@@@1@13@@oe@2-2-2013
21481007@unknown@formal@none@1@S@The company said it has an option to increase the offering by up to 350,000 shares.@@@@1@16@@oe@2-2-2013
21482001@unknown@formal@none@1@S@The following U.S. Treasury, corporate and municipal offerings are tentatively scheduled for sale this week, according to Dow Jones Capital Markets Report: $15.6 billion three-month and six-month bills.@@@@1@28@@oe@2-2-2013
21482002@unknown@formal@none@1@S@$10 billion of two-year notes.@@@@1@5@@oe@2-2-2013
21482003@unknown@formal@none@1@S@Resolution Funding Corp. to sell $4.5 billion 30-year bonds.@@@@1@9@@oe@2-2-2013
21482004@unknown@formal@none@1@S@Aim Prime Rate Plus Fund Inc. -- 10 million common shares, via PaineWebber Inc.@@@@1@14@@oe@2-2-2013
21482005@unknown@formal@none@1@S@Allied Capital Corp. II -- 6,500,000 common shares, via Shearson Lehman Hutton Inc.@@@@1@13@@oe@2-2-2013
21482006@unknown@formal@none@1@S@American Cyanamid Co. -- 1,250,000 common shares, via Merrill Lynch Capital Markets.@@@@1@12@@oe@2-2-2013
21482007@unknown@formal@none@1@S@Associated Natural Gas Corp. -- 1,400,000 common shares, via Dillon Read & Co.@@@@1@13@@oe@2-2-2013
21482008@unknown@formal@none@1@S@B & H Crude Carriers Ltd. -- Four million common shares, via Salomon Brothers Inc.@@@@1@15@@oe@2-2-2013
21482009@unknown@formal@none@1@S@Baldwin Technology Co. -- 2,600,000 Class A shares, via Smith Barney, Harris Upham & Co.@@@@1@15@@oe@2-2-2013
21482010@unknown@formal@none@1@S@Blockbuster Entertainment Corp. -- $250 million (face amount) Liquid Yield Option Notes, via Merrill Lynch.@@@@1@15@@oe@2-2-2013
21482011@unknown@formal@none@1@S@Chemex Pharmaceuticals Inc. -- 1,200,000 units, via PaineWebber.@@@@1@8@@oe@2-2-2013
21482012@unknown@formal@none@1@S@Immune Response Corp. -- Three million common shares, via Merrill Lynch.@@@@1@11@@oe@2-2-2013
21482013@unknown@formal@none@1@S@Marsam Pharmaceuticals Inc. -- 1,300,000 common shares, via Smith Barney, Harris Upham.@@@@1@12@@oe@2-2-2013
21482014@unknown@formal@none@1@S@RMI Titanium Co. -- 15 million common shares, via Salomon Brothers Inc.@@@@1@12@@oe@2-2-2013
21482015@unknown@formal@none@1@S@Tidewater Inc. -- 4,631,400 common shares, via Salomon Brothers Inc.@@@@1@10@@oe@2-2-2013
21482016@unknown@formal@none@1@S@Massachusetts -- Approximately $230 million of general bonds, consolidated loan of 1989, Series D, via competitive bid.@@@@1@17@@oe@2-2-2013
21482017@unknown@formal@none@1@S@Montgomery County, Maryland -- $75 million of general consolidated public improvement bonds of 1989, Series B, via competitive bid.@@@@1@19@@oe@2-2-2013
21482018@unknown@formal@none@1@S@Trinity River Authority, Texas -- $134,750,000 of regional wastewater system improvement revenue bonds, Series 1989, via competitive bid.@@@@1@18@@oe@2-2-2013
21482019@unknown@formal@none@1@S@City and County of Honolulu, Hawaii -- $75 million of obligation bonds, 1989 Series B, due 1993-2009, via competitive bid.@@@@1@20@@oe@2-2-2013
21482020@unknown@formal@none@1@S@Beverly Hills -- $110 million of civic center project certificates of participation, Series 1989, via a Goldman, Sachs & Co. group.@@@@1@21@@oe@2-2-2013
21482021@unknown@formal@none@1@S@Broward County School District, Florida -- $185 million of school district general bonds, via a First Boston Corp. group.@@@@1@19@@oe@2-2-2013
21482022@unknown@formal@none@1@S@Connecticut Housing Finance Authority -- $132,620,000 of housing mortgage revenue (AMT and non-AMT) bonds, via a PaineWebber group.@@@@1@18@@oe@2-2-2013
21482023@unknown@formal@none@1@S@Maryland Stadium Authority -- $137,550,000 of sports facilities lease revenue Alternative Minimum Tax (AMT) bonds, Series 1989 D, via a Morgan Stanley & Co. group.@@@@1@25@@oe@2-2-2013
21482024@unknown@formal@none@1@S@Michigan -- $80 million of Michigan First general bonds, including $70 million of environmental protection project bonds and $10 million of recreation project bonds, via a Shearson Lehman Hutton group.@@@@1@30@@oe@2-2-2013
21482025@unknown@formal@none@1@S@West Virginia Parkways Economic Development and Tourism Authority -- $143 million of parkway revenue bonds, Series 1989, via a PaineWebber group.@@@@1@21@@oe@2-2-2013
21482026@unknown@formal@none@1@S@San Antonio, Texas -- $640 million of gas and electric revenue refunding bonds, via a First Boston group.@@@@1@18@@oe@2-2-2013
21483001@unknown@formal@none@1@S@MCI COMMUNICATIONS Corp. said it filed a shelf registration with the Securities and Exchange Commission for issuance of as much as $750 million of debt securities.@@@@1@26@@oe@2-2-2013
21483002@unknown@formal@none@1@S@The debt will include medium-term notes sold through Merrill Lynch Capital Markets; Drexel Burnham Lambert Inc.; Goldman, Sachs & Co. and Salomon Brothers Inc.@@@@1@24@@oe@2-2-2013
21483003@unknown@formal@none@1@S@The funds will be used for refinancing existing debt of the Washington, D.C., concern at lower interest rates and for other general purposes.@@@@1@23@@oe@2-2-2013
21483004@unknown@formal@none@1@S@The effective date of the registration is to be determined by the SEC.@@@@1@13@@oe@2-2-2013
21484001@unknown@formal@none@1@S@A group including ESL Partners Ltd., a Fort Worth, Texas, investment partnership, and Richard E. Rainwater, a former adviser to the Fort Worth Bass family, said it reduced its stake in Anacomp Inc. to 3.6% of the common shares outstanding.@@@@1@40@@oe@2-2-2013
21484002@unknown@formal@none@1@S@In a filing with the Securities and Exchange Commission, the group said it sold 1,325,900 Anacomp common shares from Aug. 31 to last Wednesday for $4.48 to $5.84 a share, resulting in a drop in its holdings to 1,351,662 shares.@@@@1@40@@oe@2-2-2013
21484003@unknown@formal@none@1@S@No reason was given in the filing for the sales.@@@@1@10@@oe@2-2-2013
21484004@unknown@formal@none@1@S@An Anacomp official said the Indianapolis computer-services concern had no comment on the group's share sales.@@@@1@16@@oe@2-2-2013
21484005@unknown@formal@none@1@S@In March, the group disclosed it held a 7.2% stake in Anacomp for investment purposes.@@@@1@15@@oe@2-2-2013
21484006@unknown@formal@none@1@S@It said then it had had and would continue to have discussions with Anacomp's management concerning its investment.@@@@1@18@@oe@2-2-2013
21485001@unknown@formal@none@1@S@Home Beneficial Corp., Richmond, Va., said it contracted to sell its 50% interest in a Richmond-area shopping mall to a buyer that wasn't identified.@@@@1@24@@oe@2-2-2013
21485002@unknown@formal@none@1@S@The life-insurance holding company said the sale would result in an after-tax gain of about $32 million, or $3.09 a share, in the first quarter of@@@@1@26@@oe@2-2-2013
21485003@unknown@formal@none@1@S@The company also said it will adopt new accounting standards in the first quarter.@@@@1@14@@oe@2-2-2013
21485004@unknown@formal@none@1@S@The change will result in a charge of about $8.5 million, or 82 cents a share, because of an increase in deferred income-tax liability.@@@@1@24@@oe@2-2-2013
21485005@unknown@formal@none@1@S@In the first quarter of 1988, the company earned $10 million, or 94 cents a share.@@@@1@16@@oe@2-2-2013
21486001@unknown@formal@none@1@S@Following is a weekly listing of unadited net asset values of publicly traded investment fund shares, reported by the companies as of Friday's close.@@@@1@24@@oe@2-2-2013
21486002@unknown@formal@none@1@S@Also shown is the closing listed market price or a dealer-to-dealer asked price of each fund's shares, with the percentage of difference.@@@@1@22@@oe@2-2-2013
21486003@unknown@formal@none@1@S@Closed End Bond Funds@@@@1@4@@oe@2-2-2013
21486004@unknown@formal@none@1@S@Flexible Portfolio Funds@@@@1@3@@oe@2-2-2013
21486005@unknown@formal@none@1@S@Specialized Equity and Convertible Funds@@@@1@5@@oe@2-2-2013
21486006@unknown@formal@none@1@S@a-Ex-dividend.@@@@1@1@@oe@2-2-2013
21486007@unknown@formal@none@1@S@b-As of Thursday's close.@@@@1@4@@oe@2-2-2013
21486008@unknown@formal@none@1@S@c-Translated at Commercial Rand exchange rate.@@@@1@6@@oe@2-2-2013
21486009@unknown@formal@none@1@S@e-In Canadian dollars.@@@@1@3@@oe@2-2-2013
21486010@unknown@formal@none@1@S@f-As of Wednesday's close.@@@@1@4@@oe@2-2-2013
21487001@unknown@formal@none@1@S@A shareholder filed suit, seeking to block Unitel Video Inc.'s proposed plan to be acquired by a new affiliate of closely held Kenmare Capital Corp. for $15 a share, or $33.6 million.@@@@1@32@@oe@2-2-2013
21487002@unknown@formal@none@1@S@The suit, which seeks class-action status, was filed in Delaware Chancery Court.@@@@1@12@@oe@2-2-2013
21487003@unknown@formal@none@1@S@The complaint alleges that the price is "unfair and grossly inadequate" and that the defendants are seeking to ensure a "lockup" of the purchase of Unitel, thereby discouraging other bids.@@@@1@30@@oe@2-2-2013
21487004@unknown@formal@none@1@S@It seeks unspecified money damages.@@@@1@5@@oe@2-2-2013
21487005@unknown@formal@none@1@S@The New York company called the lawsuit without merit.@@@@1@9@@oe@2-2-2013
21487006@unknown@formal@none@1@S@Shareholders are scheduled to vote on the transaction Nov.@@@@1@9@@oe@2-2-2013
21488001@unknown@formal@none@1@S@This Toronto closed-end fund cut the annual dividend on its Class A common shares to one Canadian cent from 10 Canadian cents.@@@@1@22@@oe@2-2-2013
21488002@unknown@formal@none@1@S@The fund invests mainly in gold and silver bullion.@@@@1@9@@oe@2-2-2013
21488003@unknown@formal@none@1@S@It said the reduced dividend reflects the low price for precious metals.@@@@1@12@@oe@2-2-2013
21488004@unknown@formal@none@1@S@Greg Davies, Central Fund's vice president, finance, said losses for the fiscal year ending Oct. 31 could be as high as one million Canadian dollars (US$852,000).@@@@1@26@@oe@2-2-2013
21488005@unknown@formal@none@1@S@The fund last had a profit in 1985.@@@@1@8@@oe@2-2-2013
21488006@unknown@formal@none@1@S@The new dividend rate is payable Nov. 15 to holders of record Oct. 31.@@@@1@14@@oe@2-2-2013
21488007@unknown@formal@none@1@S@In American Stock Exchange composite trading Friday, Central Fund was unchanged at $4.6875 a share.@@@@1@15@@oe@2-2-2013
21489001@unknown@formal@none@1@S@Comair Holdings Inc. said in Cincinnati that it bought Airline Aviation Academy, a pilot training school based at Sanford Regional Airport near Orlando, Fla.@@@@1@24@@oe@2-2-2013
21489002@unknown@formal@none@1@S@Comair said it paid cash but declined to disclose the price.@@@@1@11@@oe@2-2-2013
21489003@unknown@formal@none@1@S@Comair Holdings is the parent of Comair Inc., a regional air carrier.@@@@1@12@@oe@2-2-2013
21489004@unknown@formal@none@1@S@Airline Aviation, which has annual revenue of $5 million to $6 million, has great growth potential because of the large number of U.S. pilots nearing retirement age, Comair said.@@@@1@29@@oe@2-2-2013
21489005@unknown@formal@none@1@S@The unit will be renamed Comair Aviation Academy and will continue to be headed by Scott Williams, a son of its founder, Comair said.@@@@1@24@@oe@2-2-2013
21490001@unknown@formal@none@1@S@The collapse of a $6.79 billion buy-out of United Airlines parent UAL Corp. has handed Wall Street's takeover stock speculators their worst loss ever on a single deal.@@@@1@28@@oe@2-2-2013
21490002@unknown@formal@none@1@S@Their $700 million-plus in estimated paper losses easily tops the $400 million in paper losses the takeover traders, known as arbitragers, suffered in 1982 when Gulf Oil Co. dropped a $4.8 billion offer for Cities Service Co.@@@@1@37@@oe@2-2-2013
21490003@unknown@formal@none@1@S@In the six trading days since the UAL labor-management buy-out group failed to get bank financing, culminating Friday with the withdrawal of its partner British Airways PLC, UAL stock has plummeted by 41% to 168 1/2 from 285 1/4.@@@@1@39@@oe@2-2-2013
21490004@unknown@formal@none@1@S@The arbs may recoup some of their paper losses if the UAL deal gets patched up again, as they did in 1982 when Occidental Petroleum Co. rescued them with a $4 billion takeover of Cities Service.@@@@1@36@@oe@2-2-2013
21490005@unknown@formal@none@1@S@In the meantime, the question faced by investors is: What is UAL stock worth?@@@@1@14@@oe@2-2-2013
21490006@unknown@formal@none@1@S@The short answer, on a fundamental basis, is that airline analysts say the stock is worth somewhere between $135 and $150 a share.@@@@1@23@@oe@2-2-2013
21490007@unknown@formal@none@1@S@That's based on a multiple of anywhere between 8.5 to 10 times UAL earnings, which are estimated to come in somewhere around $16 a share this year.@@@@1@27@@oe@2-2-2013
21490008@unknown@formal@none@1@S@Airline stocks typically sell at a discount of about one-third to the stock market's price-earnings ratio -- which is currently about 13 times earnings.@@@@1@24@@oe@2-2-2013
21490009@unknown@formal@none@1@S@That's because airline earnings, like those of auto makers, have been subject to the cyclical ups-and-downs of the economy.@@@@1@19@@oe@2-2-2013
21490010@unknown@formal@none@1@S@That analysis matches up with stock traders' reports that, despite the huge drop in the stock, UAL hasn't returned to the level at which it could attract buying by institutions solely on the basis of earnings.@@@@1@36@@oe@2-2-2013
21490011@unknown@formal@none@1@S@So anyone buying the stock now is betting on some special transaction such as a recapitalization or takeover, and must do so using some guesswork about the likelihood of such an event.@@@@1@32@@oe@2-2-2013
21490012@unknown@formal@none@1@S@One analyst, who asked not to be identified, said he believes that the UAL pilots and management can put together a bid "in the $225 area," but that it could take three to four months to close.@@@@1@37@@oe@2-2-2013
21490013@unknown@formal@none@1@S@At that level, and given the uncertainty, he believes UAL stock should trade closer to@@@@1@15@@oe@2-2-2013
21490014@unknown@formal@none@1@S@Other observers note that UAL's board, having accepted a bid of $300 a share, might hold out for a new bid much closer to the original level -- even if it means that the management goes back to running the company for a while and lets things return to normal.@@@@1@50@@oe@2-2-2013
21490015@unknown@formal@none@1@S@By that logic, the closing of a deal could be much further away than three to four months, even though the eventual price might be higher.@@@@1@26@@oe@2-2-2013
21490016@unknown@formal@none@1@S@Investment bankers following UAL agree that the strongest impetus for an eventual deal is that the pilots have been attempting a buy-out for more than two years, and aren't likely to stop, having come so close to success.@@@@1@38@@oe@2-2-2013
21490017@unknown@formal@none@1@S@The pilots have a strong financing tool in their willingness to cut their annual compensation by $200 million, and to commit $200 million from their retirement funds.@@@@1@27@@oe@2-2-2013
21490018@unknown@formal@none@1@S@On Friday, they also persuaded the UAL flight attendants to join them.@@@@1@12@@oe@2-2-2013
21490019@unknown@formal@none@1@S@However, investment bankers say that banks aren't likely to lend the almost $5 billion that would be necessary for a takeover even at a lower price without someone putting up a hefty wad of cash -- probably even greater than the 17% in cash put up by investors in the leveraged takeover of Northwest Airlines parent NWA Corp. in July.@@@@1@60@@oe@2-2-2013
21490020@unknown@formal@none@1@S@Banks want to see someone putting up real cash at risk, that is, subordinate to the bank debt in any deal.@@@@1@21@@oe@2-2-2013
21490021@unknown@formal@none@1@S@That way, they figure, someone else has an even stronger motivation to make sure the deal is going to work, because they would be losing their money before the banks lost theirs.@@@@1@32@@oe@2-2-2013
21490022@unknown@formal@none@1@S@Banks also want to be able to call someone on the telephone to fix a problem with a deal that goes bad -- preferably someone other than a union leader.@@@@1@30@@oe@2-2-2013
21490023@unknown@formal@none@1@S@That leaves the pilots still in need of cash totaling around $1 billion -- far more than either they or the flight attendants can lay their hands on from retirement funds alone.@@@@1@32@@oe@2-2-2013
21490024@unknown@formal@none@1@S@One obstacle to the pilots' finding such a huge amount of cash is their insistence on majority ownership.@@@@1@18@@oe@2-2-2013
21490025@unknown@formal@none@1@S@Investors such as Marvin Davis of Los Angeles who have sought airline ownership this year have insisted they, not the pilots, must have control.@@@@1@24@@oe@2-2-2013
21490026@unknown@formal@none@1@S@One way out of that dilemma could be a partial recapitalization in which the pilots would wind up sharing the value of their concessions with public shareholders.@@@@1@27@@oe@2-2-2013
21490027@unknown@formal@none@1@S@The pilots could borrow against the value of their concessions, using the proceeds to buy back stock from the public and give themselves the majority control they have been seeking.@@@@1@30@@oe@2-2-2013
21490028@unknown@formal@none@1@S@But it isn't clear that banks would lend sufficient money to deliver a big enough price to shareholders.@@@@1@18@@oe@2-2-2013
21490029@unknown@formal@none@1@S@The lack of any new cash probably would still leave the banks dissatisfied.@@@@1@13@@oe@2-2-2013
21490030@unknown@formal@none@1@S@In advising the UAL board on the various bids for the airline, starting with one for $240 a share from Mr. Davis, the investment bank of First Boston came up with a wide range of potential values for the company, depending on appraisal methods and assumptions.@@@@1@46@@oe@2-2-2013
21490031@unknown@formal@none@1@S@Using the the NWA takeover as a benchmark, First Boston on Sept. 14 estimated that UAL was worth $250 to $344 a share based on UAL's results for the 12 months ending last June 30, but only $235 to $266 based on a management estimate of results for 1989.@@@@1@49@@oe@2-2-2013
21490032@unknown@formal@none@1@S@First Boston's estimates had been higher before management supplied a 1989 projection.@@@@1@12@@oe@2-2-2013
21490033@unknown@formal@none@1@S@Using estimates of the company's future earnings under a variety of scenarios, First Boston estimated UAL's value at $248 to $287 a share if its future labor costs conform to Wall Street projections; $237 to $275 if the company reaches a settlement with pilots similar to one at NWA; $98 to $121 under an adverse labor settlement, and $229 to $270 under a pilot contract imposed by the company following a strike.@@@@1@72@@oe@2-2-2013
21490034@unknown@formal@none@1@S@And using liquidation value assuming the sale of all UAL assets, First Boston estimated the airline is worth $253 to $303 a share.@@@@1@23@@oe@2-2-2013
21490035@unknown@formal@none@1@S@Unfortunately, all those estimates came before airline industry fundamentals deteriorated during the past month.@@@@1@14@@oe@2-2-2013
21490036@unknown@formal@none@1@S@American Airlines parent AMR and USAir Group, both subject to takeover efforts themselves, have each warned of declining results.@@@@1@19@@oe@2-2-2013
21490037@unknown@formal@none@1@S@Some analysts don't expect a quick revival of any takeover by the pilots.@@@@1@13@@oe@2-2-2013
21490038@unknown@formal@none@1@S@The deal has, as one takeover expert puts it, "so many moving parts.@@@@1@13@@oe@2-2-2013
21490039@unknown@formal@none@1@S@I don't see anybody who's sophisticated getting his name associated with this mess until the moving parts stop moving."@@@@1@19@@oe@2-2-2013
21490040@unknown@formal@none@1@S@In addition to the need for another cash equity investor, the other moving parts include: the pilots themselves, who can scuttle rival deals by threatening to strike; the machinists union, the pilots' longtime rivals who helped scuttle the pilots' deal; and regulators in Washington, whose opposition to foreign airline investment helped throw the deal into doubt.@@@@1@56@@oe@2-2-2013
21490041@unknown@formal@none@1@S@In the meantime, the arbs are bleeding.@@@@1@7@@oe@2-2-2013
21490042@unknown@formal@none@1@S@Wall Street traders and analysts estimate that takeover stock traders own UAL stock and options equal to as many as 6.5 million shares, or about 30% of the total outstanding.@@@@1@30@@oe@2-2-2013
21490043@unknown@formal@none@1@S@Frank Gallagher, an analyst with Phoenix Capital Corp. in New York, estimates that the arbs paid an average of about $280 a share for their UAL positions.@@@@1@27@@oe@2-2-2013
21490044@unknown@formal@none@1@S@That would indicate that the arbs have paper losses on UAL alone totalling $725 million.@@@@1@15@@oe@2-2-2013
21490045@unknown@formal@none@1@S@UAL Corp. (NYSE; Symbol: UAL)@@@@1@5@@oe@2-2-2013
21490046@unknown@formal@none@1@S@Business: Airline@@@@1@2@@oe@2-2-2013
21490047@unknown@formal@none@1@S@Year ended Dec. 31, 1988:@@@@1@5@@oe@2-2-2013
21490048@unknown@formal@none@1@S@Sales: $8.98 billion@@@@1@3@@oe@2-2-2013
21490049@unknown@formal@none@1@S@Net income*: $599.9 million; or $20.20 a share@@@@1@8@@oe@2-2-2013
21490050@unknown@formal@none@1@S@Second quarter, June 30, 1989: Per-share earnings: $6.52 vs. $5.77@@@@1@10@@oe@2-2-2013
21490051@unknown@formal@none@1@S@Average daily trading volume: 881,969 shares@@@@1@6@@oe@2-2-2013
21490052@unknown@formal@none@1@S@Common shares outstanding: 21.6 million@@@@1@5@@oe@2-2-2013
21491001@unknown@formal@none@1@S@Eastern Enterprises, bolstered by improved tonnages in its marine-shipping unit, had a narrower third-quarter net loss of $1.1 million, or five cents a share.@@@@1@24@@oe@2-2-2013
21491002@unknown@formal@none@1@S@Last year, Eastern had a quarter loss of $1.7 million, or eight cents a share.@@@@1@15@@oe@2-2-2013
21491003@unknown@formal@none@1@S@Quarter revenue rose 44% to $160.1 million from $111.2 million a year ago.@@@@1@13@@oe@2-2-2013
21491004@unknown@formal@none@1@S@The Weston, Mass., utilities and marine-transport concern said results for the third quarter, usually a money-losing one because of the seasonality of the gas business, were also aided by higher gas sales and the May 1989 acquisition of Water Products Company.@@@@1@41@@oe@2-2-2013
21491005@unknown@formal@none@1@S@For the nine months, Eastern had net income of $41.8 million, or $1.80 a share, up 23% from $33.9 million or $1.46 a share a year ago.@@@@1@27@@oe@2-2-2013
21491006@unknown@formal@none@1@S@Revenue grew 24% to $614.5 million from $497.1 million.@@@@1@9@@oe@2-2-2013
21492001@unknown@formal@none@1@S@Convex Computer Corp., continuing its rapid growth while other computer companies falter, reported an 87% increase in third-quarter net income from a year earlier and a 50% increase in revenue.@@@@1@30@@oe@2-2-2013
21492002@unknown@formal@none@1@S@Net was $3.1 million, or 16 cents a share, up from $1.6 million, or nine cents a share.@@@@1@18@@oe@2-2-2013
21492003@unknown@formal@none@1@S@Revenue was $41.2 million, up from $27.5 million.@@@@1@8@@oe@2-2-2013
21492004@unknown@formal@none@1@S@For the nine months, net was $7.7 million, or 41 cents a share, up 97% from $3.9 million, or 22 cents a share, a year earlier.@@@@1@26@@oe@2-2-2013
21492005@unknown@formal@none@1@S@Revenue was $111.9 million, up 50% from $74.8 million.@@@@1@9@@oe@2-2-2013
21492006@unknown@formal@none@1@S@Convex makes supercomputers that sell for up to $2 million and has an installed base of more than 550 systems and 340 customers world-wide.@@@@1@24@@oe@2-2-2013
21492007@unknown@formal@none@1@S@During the third quarter, it said, it won several significant contracts, including a five-year contract with the National Institutes of Health valued at an estimated $8 million.@@@@1@27@@oe@2-2-2013
21492008@unknown@formal@none@1@S@Earlier this month, Convex made a bid to outflank other supercomputer competitors like Digital Equipment Corp. and International Business Machines Corp. by adopting an open set of standards and introducing new hardware and software to link different systems.@@@@1@38@@oe@2-2-2013
21492009@unknown@formal@none@1@S@The new products allow customers to add Convex machines to established systems made by other manufacturers, which "opens up a phenomenal market for us," said Robert J. Paluck, Convex's chairman, president and chief executive.@@@@1@34@@oe@2-2-2013
21492010@unknown@formal@none@1@S@Convex also recently agreed to use Posix, a standard for the computer language called UNIX.@@@@1@15@@oe@2-2-2013
21492011@unknown@formal@none@1@S@Posix is one of three or four versions of UNIX, but it is increasingly required by the federal government as it tries to standardize its computer systems.@@@@1@27@@oe@2-2-2013
21492012@unknown@formal@none@1@S@Most other supercomputer manufacturers have yet to adopt the Posix standard, Mr. Paluck said, adding that they prefer to maintain proprietary systems that lock in customers.@@@@1@26@@oe@2-2-2013
21492013@unknown@formal@none@1@S@"They want a lobster trap -- once you get in, you can't get out," he said.@@@@1@16@@oe@2-2-2013
21492014@unknown@formal@none@1@S@"But the customer doesn't want that."@@@@1@6@@oe@2-2-2013
21492015@unknown@formal@none@1@S@Convex closed in over-the-counter trading on Friday at $15.375 a share, down 12.5 cents.@@@@1@14@@oe@2-2-2013
21493001@unknown@formal@none@1@S@Troubled Saatchi & Saatchi Co. has attracted offers for some of its advertising units, with potential suitors including Interpublic Group, but has rejected them, people familiar with the company said.@@@@1@30@@oe@2-2-2013
21493002@unknown@formal@none@1@S@Industry executives said Interpublic approached Saatchi in August about buying its Campbell-Mithun-Esty unit, but was turned down by Chairman Maurice Saatchi.@@@@1@21@@oe@2-2-2013
21493003@unknown@formal@none@1@S@More recently, Interpublic inquired about one of Saatchi's smaller communications companies -- identified as the Rowland public relations firm by several industry executives -- but again was rebuffed, they said.@@@@1@30@@oe@2-2-2013
21493004@unknown@formal@none@1@S@Interpublic's chairman and chief executive officer, Philip Geier Jr., made the pitches in visits to Mr. Saatchi in London, the executives said.@@@@1@22@@oe@2-2-2013
21493005@unknown@formal@none@1@S@A Saatchi spokesman declined to comment about Interpublic.@@@@1@8@@oe@2-2-2013
21493006@unknown@formal@none@1@S@But the spokesman confirmed that Saatchi has received several inquiries from companies interested in acquiring its Campbell-Mithun and Rowland units.@@@@1@20@@oe@2-2-2013
21493007@unknown@formal@none@1@S@He added, "We have no intention of selling either business."@@@@1@10@@oe@2-2-2013
21493008@unknown@formal@none@1@S@Interpublic declined comment.@@@@1@3@@oe@2-2-2013
21493009@unknown@formal@none@1@S@The offers come as Saatchi is struggling through the most troubled period in its 19-year history.@@@@1@16@@oe@2-2-2013
21493010@unknown@formal@none@1@S@Takeover speculation has been rife, its consulting business is on the block, and its largest shareholder, Southeastern Asset Management, has said it's been approached by third parties regarding a possible restructuring.@@@@1@31@@oe@2-2-2013
21493011@unknown@formal@none@1@S@Analysts have continually lowered their earnings estimates for the company, and their outlook, at least for the short term, is bleak.@@@@1@21@@oe@2-2-2013
21493012@unknown@formal@none@1@S@In the midst of the current turmoil, Saatchi is attempting to shore up its ad businesses.@@@@1@16@@oe@2-2-2013
21493013@unknown@formal@none@1@S@It named a new chief executive officer, former IMS International head Robert Louis-Dreyfus.@@@@1@13@@oe@2-2-2013
21493014@unknown@formal@none@1@S@It rebuffed an offer by Carl Spielvogel, head of Saatchi's Backer Spielvogel Bates unit, to lead a management buy-out of all or part of Saatchi.@@@@1@25@@oe@2-2-2013
21493015@unknown@formal@none@1@S@And last week, people close to Saatchi said Maurice Saatchi and his brother, Charles, would lead a buy-out if a hostile bid emerged.@@@@1@23@@oe@2-2-2013
21493016@unknown@formal@none@1@S@But Saatchi's troubles have only whipped up interest among outsiders interested in picking off pieces of its ad businesses.@@@@1@19@@oe@2-2-2013
21493017@unknown@formal@none@1@S@While Saatchi's major agency networks -- Backer Spielvogel and Saatchi & Saatchi Advertising -- would be difficult for any ad firm to buy because of potential client conflicts, its smaller businesses are quite attractive.@@@@1@34@@oe@2-2-2013
21493018@unknown@formal@none@1@S@Campbell-Mithun-Esty, for example, has had big problems at its New York office, but offers strong offices in other areas of the country, including Minneapolis and Chicago.@@@@1@26@@oe@2-2-2013
21493019@unknown@formal@none@1@S@That would would make it appealing to a network such as Interpublic that already has a healthy New York presence.@@@@1@20@@oe@2-2-2013
21493020@unknown@formal@none@1@S@(While there would be some client conflicts, they wouldn't be nearly as onerous as with Saatchi's other agencies.)@@@@1@18@@oe@2-2-2013
21493021@unknown@formal@none@1@S@Campbell-Mithun also would be a sizable addition to an agency network: It has billings of about $850 million and blue-chip clients including General Mills, Jeep/Eagle and Dow Brands.@@@@1@28@@oe@2-2-2013
21493022@unknown@formal@none@1@S@Rowland, meanwhile, has expanded aggressively, and now ranks as the fifth-largest U.S. public relations firm, according to O'Dwyer's Directory of Public Relations Firms.@@@@1@23@@oe@2-2-2013
21493023@unknown@formal@none@1@S@It would be attractive to an agency such as Interpublic, one of the few big agency groups without an affiliated public relations firm of its own.@@@@1@26@@oe@2-2-2013
21493024@unknown@formal@none@1@S@Other Saatchi units include ad agency McCaffrey & McCall, which has the Mercedes account and which has been attempting to buy itself back; and Howard Marlboro, a sports and event marketing firm.@@@@1@32@@oe@2-2-2013
21493025@unknown@formal@none@1@S@Despite Saatchi's firm stand against selling its ad units, U.S. analysts believe the company may ultimately sell some of the smaller units.@@@@1@22@@oe@2-2-2013
21493026@unknown@formal@none@1@S@Mr. Louis-Dreyfus, in a recent interview, said he might sell "a marginal agency or office."@@@@1@15@@oe@2-2-2013
21493027@unknown@formal@none@1@S@Analysts believe he may ultimately dispose of some of the non-advertising businesses.@@@@1@12@@oe@2-2-2013
21493028@unknown@formal@none@1@S@Prudential's Final Four@@@@1@3@@oe@2-2-2013
21493029@unknown@formal@none@1@S@Prudential Insurance Co. of America said it selected four agencies to pitch its $60 million to $70 million account.@@@@1@19@@oe@2-2-2013
21493030@unknown@formal@none@1@S@In addition to Backer Spielvogel Bates, a Saatchi unit that has handled the account since 1970, the other agencies include Lowe Marschalk, a unit of the Lowe Group; Grey Advertising; and WPP Group's Scali, McCabe, Sloves agency.@@@@1@37@@oe@2-2-2013
21493031@unknown@formal@none@1@S@All agencies are New York-based.@@@@1@5@@oe@2-2-2013
21493032@unknown@formal@none@1@S@A spokesman for the insurance and financial services firm, based in Newark, N.J., said it hopes to make a decision within three to four months.@@@@1@25@@oe@2-2-2013
21493033@unknown@formal@none@1@S@Jamaica Fires Back@@@@1@3@@oe@2-2-2013
21493034@unknown@formal@none@1@S@The Jamaica Tourist Board, in the wake of Young & Rubicam's indictment on charges that it bribed Jamaican officials to win the account in 1981, released a scathing memo blaming the agency for the embarrassing incident.@@@@1@36@@oe@2-2-2013
21493035@unknown@formal@none@1@S@The memo attempts to remove the tourist board as far as possible from the agency, which pleaded innocent to the charges.@@@@1@21@@oe@2-2-2013
21493036@unknown@formal@none@1@S@Among other things, the memo contends that Young & Rubicam gave false assurances that the investigation wouldn't uncover any information that would "embarrass the government of Jamaica or the Jamaica Tourist Board."@@@@1@32@@oe@2-2-2013
21493037@unknown@formal@none@1@S@It also contends that Young & Rubicam never told the tourist board about its relationship with Ad Ventures, a Jamaican firm hired by the agency.@@@@1@25@@oe@2-2-2013
21493038@unknown@formal@none@1@S@The U.S. indictment charges Ad Ventures was a front used to funnel kickbacks to the then-minister of tourism.@@@@1@18@@oe@2-2-2013
21493039@unknown@formal@none@1@S@The memo also chastises the agency for the timing of its announcement Thursday that it would no longer handle the $5 million to $6 million account.@@@@1@26@@oe@2-2-2013
21493040@unknown@formal@none@1@S@The agency declined comment, but said it will continue work until a new agency is chosen.@@@@1@16@@oe@2-2-2013
21493041@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
21493042@unknown@formal@none@1@S@NEW ACCOUNT@@@@1@2@@oe@2-2-2013
21493043@unknown@formal@none@1@S@: American Suzuki Motor Corp., Brea, Calif., awarded its estimated $10 million to $30 million account to Asher/Gould, Los Angeles.@@@@1@20@@oe@2-2-2013
21493044@unknown@formal@none@1@S@Also participating in the finals was Los Angeles agency Hakuhodo Advertising America.@@@@1@12@@oe@2-2-2013
21493045@unknown@formal@none@1@S@American Suzuki's previous agency, Keye/Donna/Pearlstein, didn't participate.@@@@1@7@@oe@2-2-2013
21493046@unknown@formal@none@1@S@AYER TALKS:@@@@1@2@@oe@2-2-2013
21493047@unknown@formal@none@1@S@N W Ayer's president and chief executive officer, Jerry J. Siano, said the agency is holding "conversations" about acquiring Zwiren Collins Karo & Trusk, a midsized Chicago agency, but a deal isn't yet close to being completed.@@@@1@37@@oe@2-2-2013
21493048@unknown@formal@none@1@S@WHO'S NEWS:@@@@1@2@@oe@2-2-2013
21493049@unknown@formal@none@1@S@John Wells, 47, former president and chief executive of N W Ayer's Chicago office, was named management director and director of account services at WPP Group's J. Walter Thompson agency in Chicago. . . .@@@@1@35@@oe@2-2-2013
21493050@unknown@formal@none@1@S@Shelly Lazarus, 42, was named president and chief operating officer of Ogilvy & Mather Direct, the direct mail division of WPP Group's Ogilvy & Mather agency.@@@@1@26@@oe@2-2-2013
21494001@unknown@formal@none@1@S@Grand Metropolitan PLC, the United Kingdom food and beverage group that owns Pillsbury Inc. of the U.S., announced a reshuffling of board-level executive duties intended to fit the company's recent expansion.@@@@1@31@@oe@2-2-2013
21494002@unknown@formal@none@1@S@David Nash, formerly group finance director at Cadbury Schweppes PLC, will become Grand Met's first group finance director in January.@@@@1@20@@oe@2-2-2013
21494003@unknown@formal@none@1@S@In a statement, Grand Met said its recent "growth and wider geographic spread" made it necessary to create the new position.@@@@1@21@@oe@2-2-2013
21494004@unknown@formal@none@1@S@The company also reassigned several executive responsibilities.@@@@1@7@@oe@2-2-2013
21494005@unknown@formal@none@1@S@David Tagg, formerly in charge of gambling operations, was appointed chief executive for retailing and property.@@@@1@16@@oe@2-2-2013
21494006@unknown@formal@none@1@S@Peter Cawdron, group strategy development director, and Bill Shardlow, group personnel director, will become part of the board's management committee.@@@@1@20@@oe@2-2-2013
21495001@unknown@formal@none@1@S@David Baltimore, who has just been named president of Rockefeller University, already knows what it's like to go through life with "Nobel laureate" appended to one's name.@@@@1@27@@oe@2-2-2013
21495002@unknown@formal@none@1@S@He is currently experiencing what it's like to have the phrase, "under investigation for scientific fraud," also attached to his name.@@@@1@21@@oe@2-2-2013
21495003@unknown@formal@none@1@S@The Nobel committee made the first addition; John Dingell's congressional committee created the second.@@@@1@14@@oe@2-2-2013
21495004@unknown@formal@none@1@S@Both of Dr. Baltimore's public faces have been on view the past few weeks while he was under consideration to succeed Joshua Lederberg as head of the prestigious Rockefeller research institution.@@@@1@31@@oe@2-2-2013
21495005@unknown@formal@none@1@S@It came to light that a substantial number of Rockefeller's faculty were upset over or even opposed to Dr. Baltimore's impending appointment.@@@@1@22@@oe@2-2-2013
21495006@unknown@formal@none@1@S@They were disturbed at what they regarded as Dr. Baltimore's confrontational attitude toward the Dingell committee, which held hearings on a dispute over the lab notebooks of a researcher who had co-authored a scientific paper with Dr. Baltimore.@@@@1@38@@oe@2-2-2013
21495007@unknown@formal@none@1@S@Readers of these columns ("The Science Police," May 15) will recall that Dr. Baltimore was merely the most well-known part of the Dingell committee's larger investigation, which touched MIT, Tufts, Duke, the National Institutes of Health and elsewhere.@@@@1@38@@oe@2-2-2013
21495008@unknown@formal@none@1@S@Rep. Dingell even managed to enlist the services of the Secret Service in his investigation of the Baltimore paper.@@@@1@19@@oe@2-2-2013
21495009@unknown@formal@none@1@S@Insofar as Mr. Dingell has a special interest in NIH and the institutions that receive its funding, the Rockefeller scientists were no doubt discomfited by Dr. Baltimore's unflattering public opinion of this congressional patron, whose behavior reminded Dr. Baltimore of the McCarthy era.@@@@1@43@@oe@2-2-2013
21495010@unknown@formal@none@1@S@This well may be the first time that the venerable Rockefeller University has brushed up publicly against the intimidations now common in American science.@@@@1@24@@oe@2-2-2013
21495011@unknown@formal@none@1@S@John Dingell demagogues a David Baltimore, animal-rights activists do $3.5 million of damage to labs at the U.Cal-Davis, Meryl Streep decries the horrors of chemistry on talk shows, Jeremy Rifkin files lawsuits in federal court to thwart biotech experiments, and Dutch-elm-disease researcher Gary Strobel's own colleagues at Montana State denounce him for "violating" EPA rules.@@@@1@55@@oe@2-2-2013
21495012@unknown@formal@none@1@S@Scientists are mistaken who still think that the anti-science movement in this country isn't their concern or that a David Baltimore could have somehow placated a John Dingell.@@@@1@28@@oe@2-2-2013
21495013@unknown@formal@none@1@S@(Mr. Dingell, by the way, has decreed another NIH investigation of the Baltimore paper, adding to several previous investigations.@@@@1@19@@oe@2-2-2013
21495014@unknown@formal@none@1@S@Something other than what most scientists would recognize as the truth is being sought here.)@@@@1@15@@oe@2-2-2013
21495015@unknown@formal@none@1@S@Fortunately, there are signs that increasing numbers of scientists understand the necessity of speaking out.@@@@1@15@@oe@2-2-2013
21495016@unknown@formal@none@1@S@David Hubel, a Nobel laureate at Harvard, has taken the lead in defending research with animals, as has Dr. Michael DeBakey.@@@@1@21@@oe@2-2-2013
21495017@unknown@formal@none@1@S@NASA defended itself vigorously and successfully against a Rifkin suit to block the Galileo launch.@@@@1@15@@oe@2-2-2013
21495018@unknown@formal@none@1@S@Scientists need to understand that while they tend to believe their work is primarly about establishing new knowledge or doing good, today it is also about power.@@@@1@27@@oe@2-2-2013
21495019@unknown@formal@none@1@S@In a media-linked world, scientists may earn wide praise and even Nobels for their work, but they also attract the attention of people who wish to gain control over the content, funding and goals of that work.@@@@1@37@@oe@2-2-2013
21495020@unknown@formal@none@1@S@When a David Baltimore -- or the next target -- decides it is better to stand up to these forces, his fellow scientists would do well to recognize what is fundamentally at stake, and offer their public support.@@@@1@38@@oe@2-2-2013
21496001@unknown@formal@none@1@S@Wisconsin Toy Co. said it definitively agreed to acquire closely held Everything's a Dollar Inc. of Virginia Beach, Va., for stock currently valued at about $4.7 million.@@@@1@27@@oe@2-2-2013
21496002@unknown@formal@none@1@S@The Milwaukee toy retailer said the agreement calls for Everything's a Dollar holders to receive for their holdings a total of 354,600 newly issued Wisconsin Toy shares.@@@@1@27@@oe@2-2-2013
21496003@unknown@formal@none@1@S@Wisconsin Toy currently has about 4.7 million shares outstanding.@@@@1@9@@oe@2-2-2013
21496004@unknown@formal@none@1@S@A company official said Arthur Borie, until January chief operating officer of Pic 'N Save Inc., will buy a 20% stake in the new Wisconsin Toy subsidiary, and will act as head of Everything's a Dollar.@@@@1@36@@oe@2-2-2013
21496005@unknown@formal@none@1@S@Wisconsin Toy has 71 retail stores, primarily in discount settings.@@@@1@10@@oe@2-2-2013
21496006@unknown@formal@none@1@S@Everything's a Dollar operates 60 specialty-retail stores.@@@@1@7@@oe@2-2-2013
21497001@unknown@formal@none@1@S@While welcoming Nicholas McInnes's Sept. 18 letter offering corrections to your "World-Wide Tax Revolution" table (editorial page, Aug. 29), I am surprised that he neglected other errors that, for some of us, strike close to home.@@@@1@36@@oe@2-2-2013
21497002@unknown@formal@none@1@S@As a Channel Islander, I was amazed to see my birthplace listed as one of "86 countries with an income tax."@@@@1@21@@oe@2-2-2013
21497003@unknown@formal@none@1@S@Despite a history of heated local debate on the topic, my passport clearly reads "British citizen."@@@@1@16@@oe@2-2-2013
21497004@unknown@formal@none@1@S@Whether Mr. McInnes's oversight is merely a sign of a mainlander's benign neglect is a question my fellow Channel Islanders (and friends on the Isle of Man) will continue to ponder.@@@@1@31@@oe@2-2-2013
21497005@unknown@formal@none@1@S@Patrick Basham@@@@1@2@@oe@2-2-2013
21498001@unknown@formal@none@1@S@Roland J. Hawkins, chairman of Jet Vacations Inc., was elected to the board of this cruise line.@@@@1@17@@oe@2-2-2013
21498002@unknown@formal@none@1@S@The board expands to seven members.@@@@1@6@@oe@2-2-2013
21499001@unknown@formal@none@1@S@Ducks.@@@@1@1@@oe@2-2-2013
21499002@unknown@formal@none@1@S@If the White House spots one, it intends to fire a veto at it.@@@@1@14@@oe@2-2-2013
21499003@unknown@formal@none@1@S@Ducks are this season's word for new taxes, under OMB Director Richard Darman's formulation that "if it looks like a duck, walks like a duck and quacks like a duck, it's a duck."@@@@1@33@@oe@2-2-2013
21499004@unknown@formal@none@1@S@George Bush is quite clear: No new ducks.@@@@1@8@@oe@2-2-2013
21499005@unknown@formal@none@1@S@But what about all those non-duck ducks flapping over Washington?@@@@1@10@@oe@2-2-2013
21499006@unknown@formal@none@1@S@We see a whole flock of programs that will impose significant costs on the American economy in the form of burdensome regulation and higher liabilities.@@@@1@25@@oe@2-2-2013
21499007@unknown@formal@none@1@S@Federal child care (quack).@@@@1@4@@oe@2-2-2013
21499008@unknown@formal@none@1@S@The Clean Air bill (quack).@@@@1@5@@oe@2-2-2013
21499009@unknown@formal@none@1@S@The disabled-workers bill (quack, quack).@@@@1@5@@oe@2-2-2013
21499010@unknown@formal@none@1@S@The Bush White House is breeding non-duck ducks the same way the Nixon White House did: It hops on an issue that is unopposable -- cleaner air, better treatment of the disabled, better child care.@@@@1@35@@oe@2-2-2013
21499011@unknown@formal@none@1@S@It comes up with a toned-down version of a Democratic proposal.@@@@1@11@@oe@2-2-2013
21499012@unknown@formal@none@1@S@The bill gets signed into law and then the administration watches helplessly, wondering where all the "unexpected" costs came from.@@@@1@20@@oe@2-2-2013
21499013@unknown@formal@none@1@S@Consider, for instance, the very fat fowl known as federalized child care.@@@@1@12@@oe@2-2-2013
21499014@unknown@formal@none@1@S@The President came up with a good bill, but now may end up signing the awful bureaucratic creature hatched on Capitol Hill.@@@@1@22@@oe@2-2-2013
21499015@unknown@formal@none@1@S@It would create 38,000 local day-care commissions, answerable to the Department of Health and Human Services.@@@@1@16@@oe@2-2-2013
21499016@unknown@formal@none@1@S@They'd determine where parents could store their kids during the day, and they'd regulate the storage facilities.@@@@1@17@@oe@2-2-2013
21499017@unknown@formal@none@1@S@The initial costs are said to be in the $2 billion a year range, but that's only the beginning.@@@@1@19@@oe@2-2-2013
21499018@unknown@formal@none@1@S@New entitlements tend to grow, creating a rationale for new taxes.@@@@1@11@@oe@2-2-2013
21499019@unknown@formal@none@1@S@Quack.@@@@1@1@@oe@2-2-2013
21499020@unknown@formal@none@1@S@The administration claims that its Clean Air bill will cost businesses between $14 billion and $19 billion annually, but economist Michael Evans estimates that the costs for firms will actually be in the $60 billion a year range.@@@@1@38@@oe@2-2-2013
21499021@unknown@formal@none@1@S@The House bill also distorts economic efficiency in all sorts of perverse ways.@@@@1@13@@oe@2-2-2013
21499022@unknown@formal@none@1@S@For example, the administration proposal imposes extremely tough emissions standards on new power plants.@@@@1@14@@oe@2-2-2013
21499023@unknown@formal@none@1@S@So instead of building more efficient modern plants, utilities stick scrubbers on the old plants.@@@@1@15@@oe@2-2-2013
21499024@unknown@formal@none@1@S@The money spent on scrubbers is diverted from planned research on new, cleaner technology.@@@@1@14@@oe@2-2-2013
21499025@unknown@formal@none@1@S@The bill also imposes the California auto-emissions standards on all cars nationwide, as if a car registered in Big Sky, Montana, needed to be as clean as one driven in Los Angeles.@@@@1@32@@oe@2-2-2013
21499026@unknown@formal@none@1@S@Proponents of the nationwide standards say the cost for car buyers would be about $500 per car.@@@@1@17@@oe@2-2-2013
21499027@unknown@formal@none@1@S@Other analysts say that estimate is low.@@@@1@7@@oe@2-2-2013
21499028@unknown@formal@none@1@S@Quack.@@@@1@1@@oe@2-2-2013
21499029@unknown@formal@none@1@S@Nobody knows how many billions of dollars the Americans With Disabilities Act will cost, because nobody knows what the bill entails.@@@@1@21@@oe@2-2-2013
21499030@unknown@formal@none@1@S@It is an intentionally vague document that will create a wave of litigation.@@@@1@13@@oe@2-2-2013
21499031@unknown@formal@none@1@S@Judges will write the real bill as suits roll through the courts.@@@@1@12@@oe@2-2-2013
21499032@unknown@formal@none@1@S@Lawyers will benefit.@@@@1@3@@oe@2-2-2013
21499033@unknown@formal@none@1@S@Private companies, and ultimately their customers, will end up footing the huge bill.@@@@1@13@@oe@2-2-2013
21499034@unknown@formal@none@1@S@The effect of Nixon era non-duck ducks was an economy clogged up with regulations and distortions.@@@@1@16@@oe@2-2-2013
21499035@unknown@formal@none@1@S@All this was recognized and documented in the succeeding years by economists, some of whom worked in the Reagan administration to lift this burden from the American people, states and local governments.@@@@1@32@@oe@2-2-2013
21499036@unknown@formal@none@1@S@Running for President in 1980 and 1988, George Bush also persuasively diagnosed the economic stagnation of the 1970s.@@@@1@18@@oe@2-2-2013
21499037@unknown@formal@none@1@S@In fact, during last year's campaign, the entire nation constantly heard Mr. Bush tout his accomplishments as head of the Task Force on Regulatory Relief.@@@@1@25@@oe@2-2-2013
21499038@unknown@formal@none@1@S@"Government continues to inhibit the productivity of our citizenry and the international competitiveness of American business," the vice president declared when he was head of the task force.@@@@1@28@@oe@2-2-2013
21499039@unknown@formal@none@1@S@But with the impending passage of these new programs, Mr. Bush will surely be sending many people hurtling back into the regulatory thicket that he had helped cut back.@@@@1@29@@oe@2-2-2013
21499040@unknown@formal@none@1@S@By 1986, the number of federal regulators was down to about 103,000.@@@@1@12@@oe@2-2-2013
21499041@unknown@formal@none@1@S@Then it turned up, and by one estimate the number will be up to about 109,000 regulators by next year.@@@@1@20@@oe@2-2-2013
21499042@unknown@formal@none@1@S@Holding the dam on taxes is the most important task of the Bush presidency.@@@@1@14@@oe@2-2-2013
21499043@unknown@formal@none@1@S@We would have thought by now, though, that there was a significant core of people involved in government life who understood that direct taxation isn't the only way to slow down an economy.@@@@1@33@@oe@2-2-2013
21499044@unknown@formal@none@1@S@It is merely the most obvious.@@@@1@6@@oe@2-2-2013
21499045@unknown@formal@none@1@S@What is even more ironic is that all over the world nations are learning that well-intentioned public programs often backfire.@@@@1@20@@oe@2-2-2013
21499046@unknown@formal@none@1@S@But while they are unloading these burdens, the United States is close to creating three more big ones.@@@@1@18@@oe@2-2-2013
21499047@unknown@formal@none@1@S@The Bush administration ought to be setting aside some of its buckshot for the non-duck ducks.@@@@1@16@@oe@2-2-2013
21500001@unknown@formal@none@1@S@Confidence in the pound is widely expected to take another sharp dive if trade figures for September, due for release tomorrow, fail to show a substantial improvement from July and August's near-record deficits.@@@@1@33@@oe@2-2-2013
21500002@unknown@formal@none@1@S@Chancellor of the Exchequer Nigel Lawson's restated commitment to a firm monetary policy has helped to prevent a freefall in sterling over the past week.@@@@1@25@@oe@2-2-2013
21500003@unknown@formal@none@1@S@But analysts reckon underlying support for sterling has been eroded by the chancellor's failure to announce any new policy measures in his Mansion House speech last Thursday.@@@@1@27@@oe@2-2-2013
21500004@unknown@formal@none@1@S@This has increased the risk of the government being forced to increase base rates to 16% from their current 15% level to defend the pound, economists and foreign exchange market analysts say.@@@@1@32@@oe@2-2-2013
21500005@unknown@formal@none@1@S@"The risks for sterling of a bad trade figure are very heavily on the down side," said Chris Dillow, senior U.K. economist at Nomura Research Institute.@@@@1@26@@oe@2-2-2013
21500006@unknown@formal@none@1@S@"If there is another bad trade number, there could be an awful lot of pressure," noted Simon Briscoe, U.K. economist for Midland Montagu, a unit of Midland Bank PLC.@@@@1@29@@oe@2-2-2013
21500007@unknown@formal@none@1@S@Forecasts for the trade figures range widely, but few economists expect the data to show a very marked improvement from the #2 billion ($3.2 billion) deficit in the current account reported for August.@@@@1@33@@oe@2-2-2013
21500008@unknown@formal@none@1@S@The August deficit and the #2.2 billion gap registered in July are topped only by the #2.3 billion deficit of October 1988.@@@@1@22@@oe@2-2-2013
21500009@unknown@formal@none@1@S@Sanjay Joshi, European economist at Baring Brothers & Co., said there is no sign that Britain's manufacturing industry is transforming itself to boost exports.@@@@1@24@@oe@2-2-2013
21500010@unknown@formal@none@1@S@At the same time, he remains fairly pessimistic about the outlook for imports, given continued high consumer and capital goods inflows.@@@@1@21@@oe@2-2-2013
21500011@unknown@formal@none@1@S@He reckons the current account deficit will narrow to only #1.8 billion in September.@@@@1@14@@oe@2-2-2013
21500012@unknown@formal@none@1@S@However, Mr. Dillow said he believes that a reduction in raw material stockbuilding by industry could lead to a sharp drop in imports.@@@@1@23@@oe@2-2-2013
21500013@unknown@formal@none@1@S@Combined with at least some rebound in exports after August's unexpected decline, the deficit could narrow to as little as #1.3 billion.@@@@1@22@@oe@2-2-2013
21500014@unknown@formal@none@1@S@Mr. Briscoe, who also forecasts a #1.3 billion current account gap, warns that even if the trade figures are bullish for sterling, the currency won't advance much because investors will want to see further evidence of the turnaround before adjusting positions.@@@@1@41@@oe@2-2-2013
21500015@unknown@formal@none@1@S@Nevertheless, he noted, "No one will want to go into the trade figures without a flat position" in the pound.@@@@1@20@@oe@2-2-2013
21500016@unknown@formal@none@1@S@Meanwhile, overall evidence on the economy remains fairly clouded.@@@@1@9@@oe@2-2-2013
21500017@unknown@formal@none@1@S@In his Mansion House speech, Mr. Lawson warned that a further slowdown can be expected as the impact of the last rise in interest rates earlier this month takes effect.@@@@1@30@@oe@2-2-2013
21500018@unknown@formal@none@1@S@U.K. base rates are at their highest level in eight years.@@@@1@11@@oe@2-2-2013
21500019@unknown@formal@none@1@S@But consumer expenditure data released Friday don't suggest that the U.K. economy is slowing that quickly.@@@@1@16@@oe@2-2-2013
21500020@unknown@formal@none@1@S@The figures show that spending rose 0.1% in the third quarter from the second quarter and was up 3.8% from a year ago.@@@@1@23@@oe@2-2-2013
21500021@unknown@formal@none@1@S@This compares with a 1.6% rise in the second from the first quarter and a 5.4% increase from the second quarter of 1988.@@@@1@23@@oe@2-2-2013
21500022@unknown@formal@none@1@S@Mr. Dillow said the data show the economy "is still quite strong," but suggestions that much of the spending went on services rather than consumer goods should reduce fears of more import rises.@@@@1@33@@oe@2-2-2013
21500023@unknown@formal@none@1@S@Certainly, the chancellor has made it clear that he is prepared to increase interest rates again if necessary to both ensure that a substantial slowdown does take place and that sterling doesn't decline further.@@@@1@34@@oe@2-2-2013
21500024@unknown@formal@none@1@S@Thursday, he reminded his audience that the government "cannot allow the necessary rigor of monetary policy to be undermined by exchange rate weakness."@@@@1@23@@oe@2-2-2013
21500025@unknown@formal@none@1@S@Analysts agree there is little holding sterling firm at the moment other than Mr. Lawson's promise that rates will be pushed higher if necessary.@@@@1@24@@oe@2-2-2013
21500026@unknown@formal@none@1@S@And, they warn, any further drop in the government's popularity could swiftly make this promise sound hollow.@@@@1@17@@oe@2-2-2013
21500027@unknown@formal@none@1@S@Sterling was already showing some signs of a lack of confidence in Mr. Lawson's promise Friday.@@@@1@16@@oe@2-2-2013
21500028@unknown@formal@none@1@S@In European trading it declined to $1.5890 and 2.9495 marks from $1.5940 and 2.9429 marks late Thursday.@@@@1@17@@oe@2-2-2013
21500029@unknown@formal@none@1@S@Economists suggested that if the pound falls much below 2.90 marks, the government will be forced to increase rates to 16%, both to halt any further decline and ensure that the balance of monetary policy remains unchanged.@@@@1@37@@oe@2-2-2013
21500030@unknown@formal@none@1@S@Friday's Market Activity@@@@1@3@@oe@2-2-2013
21500031@unknown@formal@none@1@S@The dollar posted gains in quiet trading as concerns about equities abated.@@@@1@12@@oe@2-2-2013
21500032@unknown@formal@none@1@S@Foreign exchange dealers said that the currency market has begun to distance itself from the volatile stock exchange, which has preoccupied the market since Oct. 13, when the Dow Jones Industrial Average plunged more than 190 points.@@@@1@37@@oe@2-2-2013
21500033@unknown@formal@none@1@S@Currency analysts predict that in the coming week the foreign exchange market will shift its focus back to economic fundamentals, keeping a close eye out for any signs of monetary easing by U.S. Federal Reserve.@@@@1@35@@oe@2-2-2013
21500034@unknown@formal@none@1@S@Late in the New York trading day, the dollar was quoted at 1.8578 marks, up from 1.8470 marks late Thursday in New York.@@@@1@23@@oe@2-2-2013
21500035@unknown@formal@none@1@S@The U.S. currency was also changing hands at 142.43 yen, up from 141.70 yen in New York late Thursday.@@@@1@19@@oe@2-2-2013
21500036@unknown@formal@none@1@S@In Tokyo on Monday, the U.S. currency opened for trading at 141.95 yen, up from Friday's Tokyo close of 141.35 yen.@@@@1@21@@oe@2-2-2013
21500037@unknown@formal@none@1@S@On the Commodity Exchange in New York, gold for current delivery settled at $367.30 an ounce, up 20 cents.@@@@1@19@@oe@2-2-2013
21500038@unknown@formal@none@1@S@Estimated volume was a light 2.4 million ounces.@@@@1@8@@oe@2-2-2013
21500039@unknown@formal@none@1@S@In early trading in Hong Kong Monday, gold was quoted at $366.50 an ounce.@@@@1@14@@oe@2-2-2013
21501001@unknown@formal@none@1@S@East Rock Partners Limited Partnership said it proposed to acquire A.P. Green Industries Inc. for $40 a share.@@@@1@18@@oe@2-2-2013
21501002@unknown@formal@none@1@S@In an Oct. 19 letter to A.P. Green's board, East Rock said the offer is subject to the signing of a merger agreement by no later than Oct. 31.@@@@1@29@@oe@2-2-2013
21501003@unknown@formal@none@1@S@The letter, attached to a filing with the Securities and Exchange Commission, said the approval is also contingent upon obtaining satisfactory financing.@@@@1@22@@oe@2-2-2013
21501004@unknown@formal@none@1@S@An A.P. Green official declined to comment on the filing.@@@@1@10@@oe@2-2-2013
21501005@unknown@formal@none@1@S@The $40-a-share proposal values the company at about $106.6 million.@@@@1@10@@oe@2-2-2013
21501006@unknown@formal@none@1@S@A.P. Green currently has 2,664,098 shares outstanding.@@@@1@7@@oe@2-2-2013
21501007@unknown@formal@none@1@S@Its stock closed at $38, up $1.875, in national over-the-counter trading.@@@@1@11@@oe@2-2-2013
21501008@unknown@formal@none@1@S@The company is a Mexico, Mo., maker of refractory products.@@@@1@10@@oe@2-2-2013
21501009@unknown@formal@none@1@S@East Rock also said in the filing that it boosted its stake in A.P. Green to 8.7%.@@@@1@17@@oe@2-2-2013
21501010@unknown@formal@none@1@S@It now holds 233,000 A.P. Green common shares, including 30,000 shares bought last Thursday for $35.50 to $36.50 a share.@@@@1@20@@oe@2-2-2013
21501011@unknown@formal@none@1@S@New York-based John Kuhns and Robert MacDonald control East Rock Partners Inc., the sole general partner of East Rock Partners L.P.@@@@1@21@@oe@2-2-2013
21501012@unknown@formal@none@1@S@The sole limited partner of the partnership is Westwood Brick Lime Inc., an indirect subsidiary of Westwood Group Inc.@@@@1@19@@oe@2-2-2013
21501013@unknown@formal@none@1@S@Both Westwood Brick and Westwood Group are based in Boston.@@@@1@10@@oe@2-2-2013
21502001@unknown@formal@none@1@S@Freight rates, declining for most of the decade because of competition spurred by deregulation, are bottoming out, turning upward and threatening to fuel inflation.@@@@1@24@@oe@2-2-2013
21502002@unknown@formal@none@1@S@Trucking, shipping and air-freight companies have announced rate increases, scheduled for this fall or early next year, reflecting higher costs and tightened demand for freight transport.@@@@1@26@@oe@2-2-2013
21502003@unknown@formal@none@1@S@Major shippers say they expect freight rates to rise at least as fast as inflation and maybe faster in the next few years.@@@@1@23@@oe@2-2-2013
21502004@unknown@formal@none@1@S@That's a big change from recent years when freight haulage was a bright spot for U.S. productivity, helping to restrain inflation and make U.S. industry more competitive abroad.@@@@1@28@@oe@2-2-2013
21502005@unknown@formal@none@1@S@"Demand has caught up with the supply of certain types of freight transportation, and rates are starting to move up" at a rate "close to or slightly more than the inflation rate," said Clifford Sayre, director of logistics at Du Pont Co.@@@@1@42@@oe@2-2-2013
21502006@unknown@formal@none@1@S@Shippers surveyed recently by Ohio State University said they expect their freight-transport, storage and distribution costs to rise about 4% this year.@@@@1@22@@oe@2-2-2013
21502007@unknown@formal@none@1@S@Only 10% of the 250 shippers polled expected their freight-transport costs to decrease, compared with 30% who had looked to freight transport to reduce costs in past years.@@@@1@28@@oe@2-2-2013
21502008@unknown@formal@none@1@S@"This is the first year since transportation deregulation in 1980 that we have had such a dramatic and broad-based upturn in perceived transportation rates," said Bernard LaLonde, a transportation logistics professor at Ohio State in Columbus.@@@@1@36@@oe@2-2-2013
21502009@unknown@formal@none@1@S@The deregulation of railroads and trucking companies that began in 1980 enabled shippers to bargain for transportation.@@@@1@17@@oe@2-2-2013
21502010@unknown@formal@none@1@S@Carriers could use their equipment more efficiently, leading to overcapacity they were eager to fill.@@@@1@15@@oe@2-2-2013
21502011@unknown@formal@none@1@S@Shippers cut about $35 billion from their annual, inter-city truck and rail costs, to about $150 billion, or about 6.4% of gross national product, down from 8% of GNP in 1981.@@@@1@31@@oe@2-2-2013
21502012@unknown@formal@none@1@S@But with much of the inefficiency squeezed out of the freight-transport system, rising costs are likely to be reflected directly in higher freight rates.@@@@1@24@@oe@2-2-2013
21502013@unknown@formal@none@1@S@"Shippers are saying `the party's over,'" said Mr. LaLonde.@@@@1@9@@oe@2-2-2013
21502014@unknown@formal@none@1@S@"Shippers won't be able to look for transportation-cost savings as they have for the last eight or nine years.@@@@1@19@@oe@2-2-2013
21502015@unknown@formal@none@1@S@Transport rates won't be an opportunity for offsetting cost increases in other segments of the economy."@@@@1@16@@oe@2-2-2013
21502016@unknown@formal@none@1@S@Robert Delaney, a consultant at Arthur D. Little Inc., Cambridge, Mass., said "We've gotten all the benefits of deregulation in freight-cost reductions.@@@@1@22@@oe@2-2-2013
21502017@unknown@formal@none@1@S@Now we are starting to see real freight-rate increases as carriers replace equipment, pay higher fuel costs and pay more for labor.@@@@1@22@@oe@2-2-2013
21502018@unknown@formal@none@1@S@You'll see carriers try to recoup some of the price cutting that occurred previously."@@@@1@14@@oe@2-2-2013
21502019@unknown@formal@none@1@S@Not everyone believes that the good times are over for shippers.@@@@1@11@@oe@2-2-2013
21502020@unknown@formal@none@1@S@"There's still a lot of pressure on rates in both rail and truck," said Gerard McCullough, lecturer in transportation at Massachusetts Institute of Technology.@@@@1@24@@oe@2-2-2013
21502021@unknown@formal@none@1@S@Less-than-truckload companies, which carry the freight of several shippers in each truck trailer, discounted away a 4.7% rate increase implemented last April.@@@@1@22@@oe@2-2-2013
21502022@unknown@formal@none@1@S@The carriers were competing fiercely for market share.@@@@1@8@@oe@2-2-2013
21502023@unknown@formal@none@1@S@Railroad-rate increases are likely to be restrained by weakening rail-traffic levels and keen competition for freight from trucks.@@@@1@18@@oe@2-2-2013
21502024@unknown@formal@none@1@S@An official at Consolidated Freightways Inc., a Menlo Park, Calif., less-than-truckload carrier, said rate discounting in that industry has begun to "stabilize."@@@@1@22@@oe@2-2-2013
21502025@unknown@formal@none@1@S@Consolidated Freightways plans to raise its rates 5.3% late this year or early next year, and at least two competitors have announced similar increases.@@@@1@24@@oe@2-2-2013
21502026@unknown@formal@none@1@S@Truckers are "trying to send signals that they need to stop the bloodletting, forget about market share and go for higher rates," said Michael Lloyd, an analyst at Salomon Bros.@@@@1@30@@oe@2-2-2013
21502027@unknown@formal@none@1@S@And "shippers are getting the feeling that they have played one trucker off against another as much as they can," he said.@@@@1@22@@oe@2-2-2013
21502028@unknown@formal@none@1@S@Air-freight carriers raised their rates for U.S. products going across the Pacific to Asia by about 20% earlier this month.@@@@1@20@@oe@2-2-2013
21502029@unknown@formal@none@1@S@And Japan Air Lines said it plans to boost its rates a further 25% over the next two years.@@@@1@19@@oe@2-2-2013
21502030@unknown@formal@none@1@S@Such rate increases "will increase the total cost of U.S. products and slow down the rate of increase of U.S. exports," said Richard Connors, a senior vice president of Yusen Air & Sea Service U.S.A. Inc., the U.S. air-freight-forwarding subsidiary of Nippon Yusen Kaisha of Japan.@@@@1@46@@oe@2-2-2013
21502031@unknown@formal@none@1@S@Ship companies carrying bulk commodities, such as oil, grain, coal and iron ore, have been able to increase their rates in the last couple of years.@@@@1@26@@oe@2-2-2013
21502032@unknown@formal@none@1@S@Some bulk shipping rates have increased "3% to 4% in the past few months," said Salomon's Mr. Lloyd.@@@@1@18@@oe@2-2-2013
21502033@unknown@formal@none@1@S@And ship lines carrying containers are also trying to raise their rates.@@@@1@12@@oe@2-2-2013
21502034@unknown@formal@none@1@S@Carriers boosted rates more than 10% in the North Atlantic between the U.S. and Europe last September, hoping to partly restore rates to earlier levels.@@@@1@25@@oe@2-2-2013
21502035@unknown@formal@none@1@S@Ship lines operating in the Pacific plan to raise rates on containers carrying U.S. exports to Asia about 10%, effective next April.@@@@1@22@@oe@2-2-2013
21503001@unknown@formal@none@1@S@MGM Grand Inc. said it filed a registration statement with the Securities and Exchange Commission for a public offering of six million common shares.@@@@1@24@@oe@2-2-2013
21503002@unknown@formal@none@1@S@The Beverly Hills, Calif.-based company said it would have 26.9 million common shares outstanding after the offering.@@@@1@17@@oe@2-2-2013
21503003@unknown@formal@none@1@S@The hotel and gaming company said Merrill Lynch Capital Markets will lead the underwriters.@@@@1@14@@oe@2-2-2013
21503004@unknown@formal@none@1@S@Proceeds from the sale will be used for remodeling and refurbishing projects, as well as for the planned MGM Grand hotel/casino and theme park.@@@@1@24@@oe@2-2-2013
21504001@unknown@formal@none@1@S@Bob Stone stewed over a letter from his manager putting him on probation for insubordination.@@@@1@15@@oe@2-2-2013
21504002@unknown@formal@none@1@S@Mr. Stone thought the discipline was unfair; he believed that his manager wanted to get rid of him for personal reasons.@@@@1@21@@oe@2-2-2013
21504003@unknown@formal@none@1@S@Unable to persuade the manager to change his decision, he went to a "company court" for a hearing.@@@@1@18@@oe@2-2-2013
21504004@unknown@formal@none@1@S@At the scheduled time, Mr. Stone entered a conference room in a building near where he worked.@@@@1@17@@oe@2-2-2013
21504005@unknown@formal@none@1@S@After the three members of the court introduced themselves, the chairman of the panel said: "Go ahead and tell us what happened.@@@@1@22@@oe@2-2-2013
21504006@unknown@formal@none@1@S@We may ask questions as you go along, or we may wait until the end."@@@@1@15@@oe@2-2-2013
21504007@unknown@formal@none@1@S@No lawyers or tape recorders were present.@@@@1@7@@oe@2-2-2013
21504008@unknown@formal@none@1@S@The only extra people were a couple of personnel specialists, one of whom knew Mr. Stone's case intimately and would help fill in any facts needed to give the court the full picture.@@@@1@33@@oe@2-2-2013
21504009@unknown@formal@none@1@S@Over a cup of coffee, Mr. Stone told his story.@@@@1@10@@oe@2-2-2013
21504010@unknown@formal@none@1@S@He talked about 20 minutes.@@@@1@5@@oe@2-2-2013
21504011@unknown@formal@none@1@S@When he was through, the court members asked many questions, then the chairman said they would like to hear his manager's side and talk to witnesses.@@@@1@26@@oe@2-2-2013
21504012@unknown@formal@none@1@S@The chairman promised Mr. Stone a decision within two weeks.@@@@1@10@@oe@2-2-2013
21504013@unknown@formal@none@1@S@Bob Stone is a fictional name, but the incident described is real.@@@@1@12@@oe@2-2-2013
21504014@unknown@formal@none@1@S@It happened at Northrop Corp. in Los Angeles.@@@@1@8@@oe@2-2-2013
21504015@unknown@formal@none@1@S@The court is called the Management Appeals Committee, or just "MAC," and it is likely to hear a couple of dozen cases a year.@@@@1@24@@oe@2-2-2013
21504016@unknown@formal@none@1@S@Alter some details of this example and it could be taking place today at Federal Express in Memphis, the Defense and Underseas Systems divisions of Honeywell in Minneapolis, a General Electric plant in Columbia, Md., or a number of other companies.@@@@1@41@@oe@2-2-2013
21504017@unknown@formal@none@1@S@These firms are pioneers in a significant new trend in the corporate world: the rise of what I call corporate due process.@@@@1@22@@oe@2-2-2013
21504018@unknown@formal@none@1@S@Although corporate due process is practiced today in few companies -- perhaps 40 to 60 -- it is one of the fastest developing trends in industry.@@@@1@26@@oe@2-2-2013
21504019@unknown@formal@none@1@S@In the coming decade a majority of people-oriented companies are likely to adopt it.@@@@1@14@@oe@2-2-2013
21504020@unknown@formal@none@1@S@Corporate due process appeals to management for a variety of reasons.@@@@1@11@@oe@2-2-2013
21504021@unknown@formal@none@1@S@It reduces lawsuits from disgruntled employees and ex-employees, with all that means for reduced legal costs and better public relations.@@@@1@20@@oe@2-2-2013
21504022@unknown@formal@none@1@S@It helps to keep out unions.@@@@1@6@@oe@2-2-2013
21504023@unknown@formal@none@1@S@It increases employee commitment to the company, with all that means for efficiency and quality control.@@@@1@16@@oe@2-2-2013
21504024@unknown@formal@none@1@S@What must your management team do to establish corporate due process?@@@@1@11@@oe@2-2-2013
21504025@unknown@formal@none@1@S@Here are four key steps:@@@@1@5@@oe@2-2-2013
21504026@unknown@formal@none@1@S@1. Make sure you have a strong personnel department.@@@@1@9@@oe@2-2-2013
21504027@unknown@formal@none@1@S@It must be able to handle most of the complaints that cannot be solved in the trenches by managers and their subordinates, else the company court or adjudicators will be inundated with cases.@@@@1@33@@oe@2-2-2013
21504028@unknown@formal@none@1@S@At Polaroid, the Personnel Policy Planning Committee may hear only about 20 cases a year; the rest of the many hundreds of complaints are resolved at earlier stages.@@@@1@28@@oe@2-2-2013
21504029@unknown@formal@none@1@S@At TWA, the System Board of Adjustment hears 50 to 75 cases a year, only a fraction of the complaints brought to personnel specialists.@@@@1@24@@oe@2-2-2013
21504030@unknown@formal@none@1@S@At Citicorp, the Problem Review Board may hear only 12 or so cases because of personnel's skill in complaint-resolution.@@@@1@19@@oe@2-2-2013
21504031@unknown@formal@none@1@S@In a typical year, up to 20% of the work force goes to personnel specialists with complaints of unfair treatment.@@@@1@20@@oe@2-2-2013
21504032@unknown@formal@none@1@S@In a large company that means many hundreds of complaints for personnel to handle.@@@@1@14@@oe@2-2-2013
21504033@unknown@formal@none@1@S@2. Formally or informally, train all your managers and supervisors in the company's due-process approach.@@@@1@15@@oe@2-2-2013
21504034@unknown@formal@none@1@S@See that they know company personnel policy backwards and forwards, for it is the "law" governing company courts and adjudicators.@@@@1@20@@oe@2-2-2013
21504035@unknown@formal@none@1@S@Coach them in handling complaints so that they can resolve problems immediately.@@@@1@12@@oe@2-2-2013
21504036@unknown@formal@none@1@S@In case managers and personnel specialists are unsuccessful and subordinates take their complaints to a company court or adjudicator, teach managers to accept reversals as a fact of business life, for in a good due-process system they are bound to happen.@@@@1@41@@oe@2-2-2013
21504037@unknown@formal@none@1@S@In the 15 companies I studied, reversal rates range on the average from 20% to 40%.@@@@1@16@@oe@2-2-2013
21504038@unknown@formal@none@1@S@3. Decide whether you want a panel system or a single adjudicator.@@@@1@12@@oe@2-2-2013
21504039@unknown@formal@none@1@S@A panel system like that in the Bob Stone example enjoys such advantages as high credibility and, for the panelists, mutual support.@@@@1@22@@oe@2-2-2013
21504040@unknown@formal@none@1@S@An adjudicator system -- that is, an investigator who acts first as a fact-finder and then switches hats and arbitrates the facts -- has such advantages as speed, flexibility and maximum privacy.@@@@1@32@@oe@2-2-2013
21504041@unknown@formal@none@1@S@International Business Machines and Bank of America are among the companies using the single-adjudicator approach.@@@@1@15@@oe@2-2-2013
21504042@unknown@formal@none@1@S@4. Make your due-process system visible.@@@@1@6@@oe@2-2-2013
21504043@unknown@formal@none@1@S@It won't do any good for anybody unless employees know about it.@@@@1@12@@oe@2-2-2013
21504044@unknown@formal@none@1@S@Most managements hesitate to go all out in advertising their due-process systems for fear of encouraging cranks and chronic soreheads to file complaints.@@@@1@23@@oe@2-2-2013
21504045@unknown@formal@none@1@S@On the other hand, they make sure at a minimum that their systems are described in their employee handbooks and talked up by personnel specialists.@@@@1@25@@oe@2-2-2013
21504046@unknown@formal@none@1@S@Smith-Kline Beecham goes further and sometimes features its grievance procedure in closed-circuit TV programs.@@@@1@14@@oe@2-2-2013
21504047@unknown@formal@none@1@S@Naturally, one of the best ways to guarantee visibility for your due-process system is for top management to support it.@@@@1@20@@oe@2-2-2013
21504048@unknown@formal@none@1@S@At IBM, the company's Open Door system is sometimes the subject of memorandums from the chief executive.@@@@1@17@@oe@2-2-2013
21504049@unknown@formal@none@1@S@Federal Express goes further in this respect than any company I know of with both Frederick Smith and James Barksdale, chief executive and chief operating officer, respectively, sitting in on the Appeals Board almost every Tuesday to decide cases.@@@@1@39@@oe@2-2-2013
21504050@unknown@formal@none@1@S@Mr. Ewing is a consultant based in Winchester, Mass., and author of "Justice on the Job: Resolving Grievances in the Nonunion Workplace" (Harvard Business School Press, 1989).@@@@1@27@@oe@2-2-2013
21505001@unknown@formal@none@1@S@Tokyo stocks closed higher in active trading Friday, marking the fourth consecutive daily gain since Monday's sharp fall.@@@@1@18@@oe@2-2-2013
21505002@unknown@formal@none@1@S@London shares closed moderately lower in thin trading.@@@@1@8@@oe@2-2-2013
21505003@unknown@formal@none@1@S@At Tokyo, the Nikkei index of 225 selected issues was up 112.16 points to 35486.38.@@@@1@15@@oe@2-2-2013
21505004@unknown@formal@none@1@S@The index advanced 266.66 points Thursday.@@@@1@6@@oe@2-2-2013
21505005@unknown@formal@none@1@S@In early trading in Tokyo Monday, the Nikkei index rose 101.98 points to 35588.36.@@@@1@14@@oe@2-2-2013
21505006@unknown@formal@none@1@S@Friday's volume on the First Section was estimated at one billion shares, up from 862 million Thursday.@@@@1@17@@oe@2-2-2013
21505007@unknown@formal@none@1@S@Winners outpaced losers, 572 to 368, while 181 issues remained unchanged.@@@@1@11@@oe@2-2-2013
21505008@unknown@formal@none@1@S@With investors relieved at the overnight gain in New York stocks, small-lot buying orders streamed into the market from early morning, making traders believe the market was back to normal.@@@@1@30@@oe@2-2-2013
21505009@unknown@formal@none@1@S@The Nikkei, which reached as high as 35611.38 right after the opening, surrendered part of its early advance toward the end of the day because of profit-taking.@@@@1@27@@oe@2-2-2013
21505010@unknown@formal@none@1@S@"Investors, especially dealers, don't want to hold a position over the weekend," a trader at Dai-ichi Securities said, adding, though, that the trading mood remained positive through the afternoon session.@@@@1@30@@oe@2-2-2013
21505011@unknown@formal@none@1@S@The Tokyo Stock Price Index (Topix) of all issues listed in the First Section, which gained 22.78 points Thursday, was up 14.06 points, or 0.53%, at 2679.72.@@@@1@27@@oe@2-2-2013
21505012@unknown@formal@none@1@S@The Second Section index, which rose 15.72 points Thursday, was up 11.88 points, or 0.32%, to close at 3717.46.@@@@1@19@@oe@2-2-2013
21505013@unknown@formal@none@1@S@Volume in the second section was estimated at 30 million shares, up from 28 million Thursday.@@@@1@16@@oe@2-2-2013
21505014@unknown@formal@none@1@S@In turmoil caused by the previous Friday's plunge in New York stocks, the Nikkei marked a sharp 647.33-point fall Monday.@@@@1@20@@oe@2-2-2013
21505015@unknown@formal@none@1@S@But the Nikkei fell an overall 1.8% in value that day compared with Wall Street's far sharper 6.9% drop on Oct. 13.@@@@1@22@@oe@2-2-2013
21505016@unknown@formal@none@1@S@The Tokyo market's resiliency helped participants to regain confidence gradually as they spent more time on analyzing factors that caused the Friday plunge and realized these problems were unique to New York stocks and not directly related to Tokyo.@@@@1@39@@oe@2-2-2013
21505017@unknown@formal@none@1@S@The Nikkei continued to gain for the rest of the week, adding 1017.69 points in four days -- more than erasing Monday's losses.@@@@1@23@@oe@2-2-2013
21505018@unknown@formal@none@1@S@But further major advances on the Nikkei aren't foreseen this week by market observers.@@@@1@14@@oe@2-2-2013
21505019@unknown@formal@none@1@S@Investors are still waiting to see how the U.S. government will decide on interest rates and how the dollar will be stabilized.@@@@1@22@@oe@2-2-2013
21505020@unknown@formal@none@1@S@Some high-priced issues made a comeback Friday.@@@@1@7@@oe@2-2-2013
21505021@unknown@formal@none@1@S@Pioneer surged 450 yen ($3.16) to 6,050 yen ($42.60).@@@@1@9@@oe@2-2-2013
21505022@unknown@formal@none@1@S@Kyocera advanced 80 yen to 5,440.@@@@1@6@@oe@2-2-2013
21505023@unknown@formal@none@1@S@Fanuc gained 100 to 7,580.@@@@1@5@@oe@2-2-2013
21505024@unknown@formal@none@1@S@Breweries attracted investors because of their land property holdings that could figure in development or other plans, traders said.@@@@1@19@@oe@2-2-2013
21505025@unknown@formal@none@1@S@Sapporo gained 80 to 1,920 and Kirin added 60 to 2,070.@@@@1@11@@oe@2-2-2013
21505026@unknown@formal@none@1@S@Housings, constructions and pharmaceuticals continued to be bought following Thursday's gains because of strong earnings outlooks.@@@@1@16@@oe@2-2-2013
21505027@unknown@formal@none@1@S@Daiwa House gained 50 to 2,660.@@@@1@6@@oe@2-2-2013
21505028@unknown@formal@none@1@S@Misawa Homes was up 20 at 2,960.@@@@1@7@@oe@2-2-2013
21505029@unknown@formal@none@1@S@Kajima advanced 40 to 2,120 and Ohbayashi added 50 to 1,730.@@@@1@11@@oe@2-2-2013
21505030@unknown@formal@none@1@S@Fujisawa added 80 to 2,010 and Mochida advanced 230 to 4,400.@@@@1@11@@oe@2-2-2013
21505031@unknown@formal@none@1@S@London share prices were influenced largely by declines on Wall Street and weakness in the British pound.@@@@1@17@@oe@2-2-2013
21505032@unknown@formal@none@1@S@The key Financial Times-Stock Exchange 100-share index ended 10.2 points lower at 2179.1, above its intraday low of 2176.9, but off the day's high of 2189.@@@@1@26@@oe@2-2-2013
21505033@unknown@formal@none@1@S@The index finished 2.4% under its close of 2233.9 the previous Friday, although it recouped some of the sharp losses staged early last week on the back of Wall Street's fall.@@@@1@31@@oe@2-2-2013
21505034@unknown@formal@none@1@S@London was weak throughout Friday's trading, however, on what dealers attributed to generally thin interest ahead of the weekend and this week's potentially important U.K. trade figures for September.@@@@1@29@@oe@2-2-2013
21505035@unknown@formal@none@1@S@The FT-SE 100 largely remained within an 11-point range establshed within the first hour of trading before it eased to an intraday low late in the session when a flurry of program selling pushed Wall Street lower.@@@@1@37@@oe@2-2-2013
21505036@unknown@formal@none@1@S@The FT 30-share index closed 11.0 points lower at 1761.0.@@@@1@10@@oe@2-2-2013
21505037@unknown@formal@none@1@S@Volume was extremely thin at 351.3 million shares, the lightest volume of the week and modestly under Thursday's 387.4 million shares.@@@@1@21@@oe@2-2-2013
21505038@unknown@formal@none@1@S@Dealers said the day's action was featureless outside some response to sterling's early weakness against the mark, and fears that Wall Street might open lower after its strong leap forward Thursday.@@@@1@31@@oe@2-2-2013
21505039@unknown@formal@none@1@S@They added that market-makers were largely sidelined after aggressively supporting the market Thursday in their quest to cover internal shortages of FT-SE 100 shares.@@@@1@24@@oe@2-2-2013
21505040@unknown@formal@none@1@S@Interest may remain limited into tomorrow's U.K. trade figures, which the market will be watching closely to see if there is any improvement after disappointing numbers in the previous two months.@@@@1@31@@oe@2-2-2013
21505041@unknown@formal@none@1@S@The key corporate news of the day was that British Airways decided to withdraw from a management-led bid for UAL Corp., the parent of United Airlines.@@@@1@26@@oe@2-2-2013
21505042@unknown@formal@none@1@S@British Airways rose initially after announcing its withdrawal from the UAL deal.@@@@1@12@@oe@2-2-2013
21505043@unknown@formal@none@1@S@Dealers said they viewed the initial #390-million ($622 million) outlay for a 15% stake in the airline as a bit much.@@@@1@21@@oe@2-2-2013
21505044@unknown@formal@none@1@S@Its shares slid in late dealings to close a penny per share lower at 197 pence.@@@@1@16@@oe@2-2-2013
21505045@unknown@formal@none@1@S@The airline was the most active FT-SE 100 at 8.2 million shares traded.@@@@1@13@@oe@2-2-2013
21505046@unknown@formal@none@1@S@The next most active top-tier stock was B.A.T Industries, the target of Sir James Goldsmith's #13.4 billion bid.@@@@1@18@@oe@2-2-2013
21505047@unknown@formal@none@1@S@The company gained shareholder approval Thursday to restructure in a bid to fend off the hostile takeover.@@@@1@17@@oe@2-2-2013
21505048@unknown@formal@none@1@S@Sir James said Thursday night that his plans for the takeover hadn't changed.@@@@1@13@@oe@2-2-2013
21505049@unknown@formal@none@1@S@B.A.T ended the day at 778, down 5, on turnover of 7.5 million shares.@@@@1@14@@oe@2-2-2013
21505050@unknown@formal@none@1@S@Dealers said it was hit by some profit-taking after gains since mid-week.@@@@1@12@@oe@2-2-2013
21505051@unknown@formal@none@1@S@In other active shares, Trusthouse Forte shed 10 to 294 on volume of 6.4 million shares after a Barclays De Zoete Wedd downgrading, while Hillsdown Holdings, a food products concern, was boosted 2 to 271 after it disclosed it would seek shareholder approval to begin share repurchases.@@@@1@47@@oe@2-2-2013
21505052@unknown@formal@none@1@S@Elsewhere in Europe, share prices closed higher in Stockholm, Brussels and Milan.@@@@1@12@@oe@2-2-2013
21505053@unknown@formal@none@1@S@Prices were lower in Frankfurt, Zurich, Paris and Amsterdam.@@@@1@9@@oe@2-2-2013
21505054@unknown@formal@none@1@S@South African gold stocks closed moderately lower.@@@@1@7@@oe@2-2-2013
21505055@unknown@formal@none@1@S@Share prices closed higher in Sydney, Taipei, Wellington, Manila, Hong Kong and Singapore and were lower in Seoul.@@@@1@18@@oe@2-2-2013
21505056@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
21505057@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
21505058@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
21506001@unknown@formal@none@1@S@The U.S. is required to notify foreign dictators if it knows of coup plans likely to endanger their lives, government officials said.@@@@1@22@@oe@2-2-2013
21506002@unknown@formal@none@1@S@The notification policy was part of a set of guidelines on handling coups outlined in a secret 1988 exchange of letters between the Reagan administration and the Senate Intelligence Committee.@@@@1@30@@oe@2-2-2013
21506003@unknown@formal@none@1@S@The existence of the guidelines has become known since President Bush disclosed them privately to seven Republican senators at a White House meeting last Monday.@@@@1@25@@oe@2-2-2013
21506004@unknown@formal@none@1@S@Officials familiar with the meeting said Mr. Bush cited the policy as an example of the sort of congressional requirements the administration contends contribute to the failure of such covert actions as this month's futile effort to oust Panamanian dictator Manuel Noriega.@@@@1@42@@oe@2-2-2013
21506005@unknown@formal@none@1@S@According to the officials, Mr. Bush even read to the senators selections from a highly classified letter from the committee to the White House discussing the guidelines.@@@@1@27@@oe@2-2-2013
21506006@unknown@formal@none@1@S@They said the president conceded the notification requirement didn't affect his decision to lend only minor support to this month's Panama coup effort.@@@@1@23@@oe@2-2-2013
21506007@unknown@formal@none@1@S@No notification was ever considered, officials said, apparently because the U.S. didn't think the coup plotters intended to kill Mr. Noriega, but merely sought to imprison him.@@@@1@27@@oe@2-2-2013
21506008@unknown@formal@none@1@S@What's more, both administration and congressional officials hint that the notification requirement is likely to be dropped from the guidelines on coup attempts that are being rewritten by the panel and the White House.@@@@1@34@@oe@2-2-2013
21506009@unknown@formal@none@1@S@The rewriting was launched at a meeting between Mr. Bush and intelligence committee leaders Oct. 12, a few days before the meeting at which the president complained about the rules.@@@@1@30@@oe@2-2-2013
21506010@unknown@formal@none@1@S@However, the disclosure of the guidelines, first reported last night by NBC News, is already being interpreted on Capitol Hill as an unfair effort to pressure Congress.@@@@1@27@@oe@2-2-2013
21506011@unknown@formal@none@1@S@It has reopened the bitter wrangling between the White House and Congress over who is responsible for the failure to oust Mr. Noriega and, more broadly, for difficulties in carrying out covert activities abroad.@@@@1@34@@oe@2-2-2013
21506012@unknown@formal@none@1@S@A statement issued by the office of the committee chairman, Sen. David Boren (D., Okla.), charged that the disclosure is part of a continuing effort to shift the criticism for the failure of the recent coup attempt in Panama.@@@@1@39@@oe@2-2-2013
21506013@unknown@formal@none@1@S@The statement added, "Someone has regrettably chosen to selectively summarize portions of highly classified correspondence between the two branches of government.@@@@1@21@@oe@2-2-2013
21506014@unknown@formal@none@1@S@Not only does this come close to a violation of law, it violates the trust we have all worked to develop."@@@@1@21@@oe@2-2-2013
21506015@unknown@formal@none@1@S@Sen. Boren said, "It's time to stop bickering and work together to develop a clear and appropriate policy to help the country in the future.@@@@1@25@@oe@2-2-2013
21506016@unknown@formal@none@1@S@I've invited the president to send his suggestions to the committee."@@@@1@11@@oe@2-2-2013
21506017@unknown@formal@none@1@S@Republican Sen. William Cohen of Maine, the panel's vice chairman, said of the disclosure that "a text torn out of context is a pretext, and it is unfair for those in the White House who are leaking to present the evidence in a selective fashion."@@@@1@45@@oe@2-2-2013
21506018@unknown@formal@none@1@S@Sen. Boren said the committee couldn't defend itself by making the documents public because that would violate classification rules.@@@@1@19@@oe@2-2-2013
21506019@unknown@formal@none@1@S@But the chairman and other committee members stressed that the notification guideline wasn't imposed on the White House by a meddling Congress.@@@@1@22@@oe@2-2-2013
21506020@unknown@formal@none@1@S@Instead, both congressional and administration officials agreed, it grew out of talks about coup-planning in Panama that were initiated by the administration in July 1988 and stretched into last October.@@@@1@30@@oe@2-2-2013
21506021@unknown@formal@none@1@S@The guideline wasn't a law, but a joint interpretation of how the U.S. might operate during foreign coups in light of the longstanding presidential order banning a U.S. role in assassinations.@@@@1@31@@oe@2-2-2013
21506022@unknown@formal@none@1@S@In fact, yesterday the administration and Congress were still differing on what had been agreed to.@@@@1@16@@oe@2-2-2013
21506023@unknown@formal@none@1@S@One administration official said notification was required even if the U.S. "gets wind" of somebody else's coup plans that seem likely to endanger a dictator's life.@@@@1@26@@oe@2-2-2013
21506024@unknown@formal@none@1@S@But a congressional source close to the panel said the rule only covered coup plans directly involving the U.S.@@@@1@19@@oe@2-2-2013
21506025@unknown@formal@none@1@S@Although the notification guideline wasn't carried out in this month's coup attempt, some administration officials argue that it may have led to hesitation and uncertainty on the part of U.S. intelligence and military operatives in Panama.@@@@1@36@@oe@2-2-2013
21506026@unknown@formal@none@1@S@One senior administration official called the guideline "outrageous" and said it could make U.S. operatives reluctant to even listen to coup plans for fear they may get into legal trouble.@@@@1@30@@oe@2-2-2013
21506027@unknown@formal@none@1@S@The issue came to a head last year, officials recalled, partly because the Reagan administration had sought unsuccessfully to win committee approval of funding for new Panama coup efforts.@@@@1@29@@oe@2-2-2013
21506028@unknown@formal@none@1@S@In addition, both administration and congressional officials said the need for guidelines on coups and assassinations was partly spurred by a White House desire to avoid nasty overseas surprises during the election campaign.@@@@1@33@@oe@2-2-2013
21506029@unknown@formal@none@1@S@Though the assassination ban is a White House order that Congress never voted on, the intelligence committees can exercise influence over its interpretation.@@@@1@23@@oe@2-2-2013
21506030@unknown@formal@none@1@S@Last week, Central Intelligence Agency Director William Webster publicly called on Congress to provide new interpretations of the assassination order that would permit the U.S. more freedom to act in coups.@@@@1@31@@oe@2-2-2013
21506031@unknown@formal@none@1@S@The administration has reacted to criticism that it mishandled the latest coup attempt by seeking to blame Congress for restrictions the White House said have hampered its freedom of action.@@@@1@30@@oe@2-2-2013
21506032@unknown@formal@none@1@S@However, last week Mr. Webster's two top CIA deputies said congressional curbs hadn't hampered the spy agency's role in the coup attempt in Panama.@@@@1@24@@oe@2-2-2013
21506033@unknown@formal@none@1@S@Nevertheless, the administration's criticisms appeared to have made some headway with Sens. Boren and Cohen after their Oct. 12 meeting with the president.@@@@1@23@@oe@2-2-2013
21506034@unknown@formal@none@1@S@The three men agreed to rewrite the guidelines, without changing the basic assassination ban, to clear up any ambiguities that may have hampered U.S. encouragement of coups against anti-American leaders.@@@@1@30@@oe@2-2-2013
21506035@unknown@formal@none@1@S@The new argument over the notification guideline, however, could sour any atmosphere of cooperation that existed.@@@@1@16@@oe@2-2-2013
21506036@unknown@formal@none@1@S@Gerald F. Seib contributed to this article.@@@@1@7@@oe@2-2-2013
21507001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
21507002@unknown@formal@none@1@S@MUTUAL FUNDS ARRIVED IN THE U.S. during the Roaring Twenties (they had been in Britain for a century), but they didn't boom until the money market fund was created in the 1970s.@@@@1@32@@oe@2-2-2013
21507003@unknown@formal@none@1@S@By 1980, there were more than 100 such funds.@@@@1@9@@oe@2-2-2013
21507004@unknown@formal@none@1@S@Besides creating a vehicle for investors, money market funds also helped rewrite banking regulations.@@@@1@14@@oe@2-2-2013
21507005@unknown@formal@none@1@S@The idea was to let small investors, the backbone of the fund business, deal in the money market's high short-term interest rates.@@@@1@22@@oe@2-2-2013
21507006@unknown@formal@none@1@S@This had been the exclusive province of those rich enough to use six-figure sums to get income that was figured beyond the third or fourth decimal place.@@@@1@27@@oe@2-2-2013
21507007@unknown@formal@none@1@S@The now-standard price of $1 a share came about by accident.@@@@1@11@@oe@2-2-2013
21507008@unknown@formal@none@1@S@An early fund had filed a registration with the Securities and Exchange Commission that included a fixed $1 price.@@@@1@19@@oe@2-2-2013
21507009@unknown@formal@none@1@S@It arrived just as the regulator handling such operations was retiring.@@@@1@11@@oe@2-2-2013
21507010@unknown@formal@none@1@S@His successor approved the $1 price in the process of clearing the backed-up papers on his desk.@@@@1@17@@oe@2-2-2013
21507011@unknown@formal@none@1@S@When Dreyfus started the first advertising-backed retail fund in February 1974, it was priced at $10 a share (and reached $1 billion in assets in one year.)@@@@1@27@@oe@2-2-2013
21507012@unknown@formal@none@1@S@Dreyfus moved to the $1 price after the SEC set standards -- an average 120-day maturity of high-grade paper -- that are still the rule.@@@@1@25@@oe@2-2-2013
21507013@unknown@formal@none@1@S@Keeping the listed price at a dollar is primarily a convenience.@@@@1@11@@oe@2-2-2013
21507014@unknown@formal@none@1@S@Actually, the funds do fluctuate, but beyond the third decimal place.@@@@1@11@@oe@2-2-2013
21507015@unknown@formal@none@1@S@Rounding-off keeps them at $1.@@@@1@5@@oe@2-2-2013
21507016@unknown@formal@none@1@S@Eventually, the money funds' success forced relaxation of curbs on bank interest rates to allow banks to offer competing yields.@@@@1@20@@oe@2-2-2013
21507017@unknown@formal@none@1@S@The new instrument also introduced many to the industry -- 30% of fund owners (there are more than 54 million accounts) started with a money fund.@@@@1@26@@oe@2-2-2013
21507018@unknown@formal@none@1@S@Today more than 470 money market funds have total assets exceeding $350 billion.@@@@1@13@@oe@2-2-2013
21507019@unknown@formal@none@1@S@(The companion tax-exempt funds add $71 billion.)@@@@1@7@@oe@2-2-2013
21507020@unknown@formal@none@1@S@Dreyfus alone has seen its money market funds grow from $1 billion in 1975 to closes to $15 billion today.@@@@1@20@@oe@2-2-2013
21508001@unknown@formal@none@1@S@Procter & Gamble Co. and Noxell Corp. said they received early termination of the waiting period under the Hart-Scott-Rodino Act regarding the proposed $1.4 billion merger of Noxell into P&G.@@@@1@30@@oe@2-2-2013
21508002@unknown@formal@none@1@S@Shareholders of Noxell, of Hunt Valley, Md., will vote on the merger at a special meeting on Nov. 30, the companies said.@@@@1@22@@oe@2-2-2013
21508003@unknown@formal@none@1@S@P&G, Cincinnati, agreed to exchange 0.272 share of its common stock for each share of Noxell common and Class B stock, a total of about 11 million P&G shares.@@@@1@29@@oe@2-2-2013
21508004@unknown@formal@none@1@S@The transaction would mark the entry of P&G into cosmetics.@@@@1@10@@oe@2-2-2013
21508005@unknown@formal@none@1@S@The company already markets a wide range of detergents, food, household and health-care products.@@@@1@14@@oe@2-2-2013
21509001@unknown@formal@none@1@S@Shareholders of Messerschmitt-Boelkow-Blohm G.m.b.H. postponed their formal endorsement of a merger with Daimler-Benz AG until another meeting on Nov. 17.@@@@1@20@@oe@2-2-2013
21509002@unknown@formal@none@1@S@The owners of the defense and aerospace concern, which include three regional states, several industrial companies and banks, met Friday to discuss the final terms of the transaction, in which Daimler-Benz will acquire 50.01% of@@@@1@35@@oe@2-2-2013
21509003@unknown@formal@none@1@S@But agreement aparently couldn't be reached because of opposition from the states of Hamburg and Bremen, which are demanding more influence over the German Airbus operations and a better guarantee against job losses in the troubled Northern German region.@@@@1@39@@oe@2-2-2013
21509004@unknown@formal@none@1@S@The two states and the state of Bavaria still hold a majority in MBB, but their stake will fall to around 30% after Daimler-Benz acquires its stake in the concern.@@@@1@30@@oe@2-2-2013
21510001@unknown@formal@none@1@S@Jeffrey E. Levin was named vice president and chief economist of this commodity futures and options exchange.@@@@1@17@@oe@2-2-2013
21510002@unknown@formal@none@1@S@He had been associate professor in the department of finance at Seton Hall University.@@@@1@14@@oe@2-2-2013
21511001@unknown@formal@none@1@S@SIERRA TUCSON Cos. said it completed its initial public offering of 2.5 million common shares, which raised $30 million.@@@@1@19@@oe@2-2-2013
21511002@unknown@formal@none@1@S@The Tucson, Ariz., operator of addiction-treatment centers said proceeds will be used for expansion, to pay debt and for general corporate purposes.@@@@1@22@@oe@2-2-2013
21511003@unknown@formal@none@1@S@Oppenheimer & Co. was the lead underwriter.@@@@1@7@@oe@2-2-2013
21512001@unknown@formal@none@1@S@The government issues its first reading on third-quarter real gross national product this week in a report that is expected to disclose much tamer inflation.@@@@1@25@@oe@2-2-2013
21512002@unknown@formal@none@1@S@The consensus view on real GNP, the total value of the nation's output of goods and services adjusted for inflation, calls for a 2.3% gain, down from the second quarter's 2.5%, according to MMS International, a unit of McGraw-Hill Inc., New York.@@@@1@42@@oe@2-2-2013
21512003@unknown@formal@none@1@S@But inflation, as measured by the GNP deflator in Thursday's report, is expected to rise only 3.5%, down from 4.6% in the second quarter.@@@@1@24@@oe@2-2-2013
21512004@unknown@formal@none@1@S@"Inflation could be a real surprise," said Samuel D. Kahan, chief financial economist at Kleinwort Benson Government Securities Inc., in Chicago.@@@@1@21@@oe@2-2-2013
21512005@unknown@formal@none@1@S@"If that gets people excited, it could serve as an impetus to the fixed-income markets to lower their rates," he added.@@@@1@21@@oe@2-2-2013
21512006@unknown@formal@none@1@S@The week's other notable indicators include mid-October auto sales, September durable goods orders as well as September personal income, personal consumption and the saving rate.@@@@1@25@@oe@2-2-2013
21512007@unknown@formal@none@1@S@Most are expected to fall below previous-month levels.@@@@1@8@@oe@2-2-2013
21512008@unknown@formal@none@1@S@Many economists see even slower GNP growth for the remainder of the year, with some leaning more strongly toward a possible recession.@@@@1@22@@oe@2-2-2013
21512009@unknown@formal@none@1@S@In addition to softer production data, weaker housing starts and lower corporate profits currently in evidence, some analysts believe the two recent natural disasters -- Hurricane Hugo and the San Francisco earthquake -- will carry economic ramifications in the fourth quarter.@@@@1@41@@oe@2-2-2013
21512010@unknown@formal@none@1@S@The recent one-day, 190-point drop in the Dow Jones Industrial Average seems to be significant to economists mainly for its tacit comment on the poor quality of third-quarter profits now being reported.@@@@1@32@@oe@2-2-2013
21512011@unknown@formal@none@1@S@"The stock market is sick because profits are crumbling," says Michael K. Evans, president of Evans Economics Inc., Washington.@@@@1@19@@oe@2-2-2013
21512012@unknown@formal@none@1@S@The economy, he noted, moves the market, not vice versa.@@@@1@10@@oe@2-2-2013
21512013@unknown@formal@none@1@S@On the other hand, Mr. Evans expects the hurricane and the earthquake "to take a hunk out of fourth-quarter GNP."@@@@1@20@@oe@2-2-2013
21512014@unknown@formal@none@1@S@His estimate of 3.3% for third-quarter GNP is higher than the consensus largely because he believes current inventories aren't as low as official figures indicate.@@@@1@25@@oe@2-2-2013
21512015@unknown@formal@none@1@S@Demand, he believes, is being met from overhang rather than new production.@@@@1@12@@oe@2-2-2013
21512016@unknown@formal@none@1@S@By and large, economists believe the two natural catastrophes will limit economic damage to their regions.@@@@1@16@@oe@2-2-2013
21512017@unknown@formal@none@1@S@Edward J. Campbell, economist at Brown Brothers Harriman & Co., New York, noted that large increases in construction activity along with government and private relief efforts could offset loss of production in those areas.@@@@1@34@@oe@2-2-2013
21512018@unknown@formal@none@1@S@Gary Ciminero, economist at Fleet/Norstar Financial Group, Providence, R.I., expects the deflator to rise 3.7%, well below the second quarter's 4.6%, partly because of what he believes will be temporarily better price behavior.@@@@1@33@@oe@2-2-2013
21512019@unknown@formal@none@1@S@He expects real GNP growth of only 2.1% for the quarter, noting a wider trade deficit, slower capital and government spending and the lower inventory figures.@@@@1@26@@oe@2-2-2013
21512020@unknown@formal@none@1@S@Sung Won Sohn, chief economist at Norwest Corp., Minneapolis, holds that the recent stock-market volatility "increases the possibility of economic recession and reinforces the bad news" from recent trade deficit, employment and housing reports.@@@@1@34@@oe@2-2-2013
21512021@unknown@formal@none@1@S@The consensus calls for a 0.5% increase in September personal income and a 0.3% gain in consumption.@@@@1@17@@oe@2-2-2013
21512022@unknown@formal@none@1@S@In August, personal income rose 0.4% and personal consumption increased 0.9%.@@@@1@11@@oe@2-2-2013
21512023@unknown@formal@none@1@S@Charles Lieberman, managing director of financial markets reasearch at Manufacturers Hanover Securities Corp., New York, said Hurrican Hugo shaved 0.1% to 0.2% from personal-income growth, because of greatly diminished rental income from tourism.@@@@1@33@@oe@2-2-2013
21512024@unknown@formal@none@1@S@Durable goods orders for September, due out tomorrow, are expected to show a slip of 1%, compared with August's 3.9% increase.@@@@1@21@@oe@2-2-2013
21512025@unknown@formal@none@1@S@As usual, estimates on the fickle report are wide, running from a drop of 3.5% to a gain of 1.6%.@@@@1@20@@oe@2-2-2013
21513001@unknown@formal@none@1@S@HASTINGS MANUFACTURING Co. declared a regular quarterly dividend of 10 cents a share and an extra dividend of five cents a share on its common stock, payable Dec. 15 to shares of record Nov. 17.@@@@1@35@@oe@2-2-2013
21513002@unknown@formal@none@1@S@This is the 11th consecutive quarter in which the company has paid shareholders an extra dividend of five cents.@@@@1@19@@oe@2-2-2013
21513003@unknown@formal@none@1@S@The Hastings, Mich., concern makes piston rings, filters and fuel pumps.@@@@1@11@@oe@2-2-2013
21514001@unknown@formal@none@1@S@Vickers PLC, a United Kingdom defense and engineering company, said an investment unit controlled by New Zealand financier Ron Brierley raised its stake in the company Friday to 15.02% from about 14.6% Thursday and from 13.7% the previous week.@@@@1@39@@oe@2-2-2013
21514002@unknown@formal@none@1@S@I.E.P. Securities Ltd., a unit of Mr. Brierley's Hong Kong-based Industrial Equity (Pacific) Ltd., boosted its holdings in Vickers to 38.8 million shares.@@@@1@23@@oe@2-2-2013
21514003@unknown@formal@none@1@S@The latest purchase follows small increases in his holdings made over the past five months.@@@@1@15@@oe@2-2-2013
21514004@unknown@formal@none@1@S@In May, Mr. Brierley's stake shrank to 8.7% after ranging between 9% and 11% for much of the previous year.@@@@1@20@@oe@2-2-2013
21514005@unknown@formal@none@1@S@"Ron Brierley clearly views our company as a good investment," a Vickers spokesman said.@@@@1@14@@oe@2-2-2013
21514006@unknown@formal@none@1@S@The spokesman refused to comment on speculation that Industrial Equity might use its interest as a platform to launch a hostile bid for the company.@@@@1@25@@oe@2-2-2013
21514007@unknown@formal@none@1@S@Vickers makes tanks for the U.K. army, Rolls Royce cars, and has marine and medical businesses.@@@@1@16@@oe@2-2-2013
21515001@unknown@formal@none@1@S@When Rune Andersson set out to revive flagging Swedish conglomerate Trelleborg AB in the early 1980s, he spurned the advice of trendy management consultants.@@@@1@24@@oe@2-2-2013
21515002@unknown@formal@none@1@S@"All these consultants kept coming around telling us we should concentrate on high technology, electronics or biotechnology, and get out of mature basic industries," Mr. Andersson recalls.@@@@1@27@@oe@2-2-2013
21515003@unknown@formal@none@1@S@Yet under its 45-year-old president, Trelleborg moved aggressively into those unfashionable base industries -- first strengthening its existing rubber and plastics division, later adding mining as well as building and construction materials.@@@@1@32@@oe@2-2-2013
21515004@unknown@formal@none@1@S@It was a gutsy move for a little-known executive, fired after only two months as president of his previous company.@@@@1@20@@oe@2-2-2013
21515005@unknown@formal@none@1@S@But going against the grain has never bothered Mr. Andersson.@@@@1@10@@oe@2-2-2013
21515006@unknown@formal@none@1@S@Stroking his trademark white goatee during a recent interview, the diminutive Swede quips: "It turned out to be lucky for us.@@@@1@21@@oe@2-2-2013
21515007@unknown@formal@none@1@S@If the whole market thinks what you're doing is crazy you don't have much competition."@@@@1@15@@oe@2-2-2013
21515008@unknown@formal@none@1@S@Mr. Andersson is anxious to strengthen Trelleborg's balance sheet.@@@@1@9@@oe@2-2-2013
21515009@unknown@formal@none@1@S@Characteristically, he didn't waste much time getting started.@@@@1@8@@oe@2-2-2013
21515010@unknown@formal@none@1@S@On Tuesday, Trelleborg's directors announced plans to spin off two big divisions -- minerals processing, and building and distribution -- as separately quoted companies on Stockholm's Stock Exchange.@@@@1@28@@oe@2-2-2013
21515011@unknown@formal@none@1@S@At current market prices, the twin public offerings to be completed next year would add an estimated 2.5 billion Swedish kronor ($386 million) to Trelleborg's coffers, analysts say.@@@@1@28@@oe@2-2-2013
21515012@unknown@formal@none@1@S@The board had also been expected to approve a SKr1.5 billion international offering of new Trelleborg shares.@@@@1@17@@oe@2-2-2013
21515013@unknown@formal@none@1@S@But that share issue -- intended to make Trelleborg better known among international investors -- was postponed until market conditions stabilize, people familiar with the situation say.@@@@1@27@@oe@2-2-2013
21515014@unknown@formal@none@1@S@Trelleborg's internationally traded "Bfree" series stock plunged SKr29 ($4.48) to SKr205 ($31.65) in volatile trading Monday in Stockholm.@@@@1@18@@oe@2-2-2013
21515015@unknown@formal@none@1@S@Tuesday, the shares regained SKr20, closing at SKr225.@@@@1@8@@oe@2-2-2013
21515016@unknown@formal@none@1@S@Mr. Andersson says he is confident that taking parts of the company public will help erase the "conglomerate stigma" that has held down Trelleborg's share price.@@@@1@26@@oe@2-2-2013
21515017@unknown@formal@none@1@S@Trelleborg plans to remain the dominant shareholder with stakes of slightly less than 50% of both units.@@@@1@17@@oe@2-2-2013
21515018@unknown@formal@none@1@S@The spinoff should solve a problem for the parent.@@@@1@9@@oe@2-2-2013
21515019@unknown@formal@none@1@S@A family foundation set up by late founder Henry Dunker controls 59% of Trelleborg's voting shares outstanding.@@@@1@17@@oe@2-2-2013
21515020@unknown@formal@none@1@S@But the foundation bylaws require the entire Trelleborg stake to be sold in the open market if control drops below 50%.@@@@1@21@@oe@2-2-2013
21515021@unknown@formal@none@1@S@That possibility had crept closer as repeated new share offerings to finance Trelleborg's rapid growth steadily diluted the foundation's holding.@@@@1@20@@oe@2-2-2013
21515022@unknown@formal@none@1@S@That growth is the result of Mr. Andersson's shopping spree, during which he has bought and sold more than 100 companies during the past five years.@@@@1@26@@oe@2-2-2013
21515023@unknown@formal@none@1@S@Most of the new additions were barely profitable, if not outright loss makers.@@@@1@13@@oe@2-2-2013
21515024@unknown@formal@none@1@S@Applying prowess gained during earlier stints at appliance maker AB Electrolux, Mr. Andersson and a handful of loyal lieutenants aggressively stripped away dead wood -- and got quick results.@@@@1@29@@oe@2-2-2013
21515025@unknown@formal@none@1@S@The treatment turned Trelleborg into one of Scandinavia's biggest and fastest-growing industrial concerns.@@@@1@13@@oe@2-2-2013
21515026@unknown@formal@none@1@S@Between 1985 and 1988, sales multipled more than 10 times and pretax profit surged almost twelvefold.@@@@1@16@@oe@2-2-2013
21515027@unknown@formal@none@1@S@Many analysts expect Mr. Andersson, who owns 1.7% of the company, to be named Trelleborg's new chairman when Ernst Herslow steps down next year.@@@@1@24@@oe@2-2-2013
21515028@unknown@formal@none@1@S@But the promotion isn't likely to alter a management style Mr. Andersson describes as "being the driving force leading the troops, not managing by sitting back with a cigar waiting for people to bring me ideas."@@@@1@36@@oe@2-2-2013
21515029@unknown@formal@none@1@S@Last month, in his boldest move yet, Mr. Andersson and Trelleborg joined forces with Canada's Noranda Inc. in a joint $2 billion hostile takeover of another big Canadian mining concern, Falconbridge Ltd.@@@@1@32@@oe@2-2-2013
21515030@unknown@formal@none@1@S@Industry analysts suggest that the conquest of Falconbridge could vault Trelleborg from a regional Scandinavian success story to a world-class mining concern.@@@@1@22@@oe@2-2-2013
21515031@unknown@formal@none@1@S@"Trelleborg isn't in the same league yet as mining giants such as RTZ Corp. or Anglo-American Corp.," says Mike Kurtanjek, a mining analyst at James Capel & Co., London.@@@@1@29@@oe@2-2-2013
21515032@unknown@formal@none@1@S@"But we certainly like what we've seen so far."@@@@1@9@@oe@2-2-2013
21515033@unknown@formal@none@1@S@But Trelleborg still must clear some tough hurdles.@@@@1@8@@oe@2-2-2013
21515034@unknown@formal@none@1@S@Mr. Andersson acknowledges that the company's mining division "will be busy for a while digesting its recent expansion."@@@@1@18@@oe@2-2-2013
21515035@unknown@formal@none@1@S@Booming metals prices have fueled Trelleborg's recent profit surge, raising mining's share of pretax profit to 68% this year from a big loss two years earlier.@@@@1@26@@oe@2-2-2013
21515036@unknown@formal@none@1@S@But analysts caution an expected fall in metal prices next year could slow profit growth.@@@@1@15@@oe@2-2-2013
21515037@unknown@formal@none@1@S@Mining is likely to remain Trelleborg's main business.@@@@1@8@@oe@2-2-2013
21515038@unknown@formal@none@1@S@Analysts say its chances of success will likely hinge on how well Trelleborg manages to cooperate with Noranda in the Falconbridge venture.@@@@1@22@@oe@2-2-2013
21515039@unknown@formal@none@1@S@Noranda and Trelleborg each came close to winning Falconbridge alone before the successful joint bid.@@@@1@15@@oe@2-2-2013
21515040@unknown@formal@none@1@S@Some analysts say Noranda would prefer to break up Falconbridge, and that the Swedes -- relatively inexperienced in international mining operations -- could have problems holding their own with a much bigger partner like Noranda operating on its home turf.@@@@1@40@@oe@2-2-2013
21515041@unknown@formal@none@1@S@Mr. Andersson insists that Trelleborg and Noranda haven't discussed a Falconbridge break-up.@@@@1@12@@oe@2-2-2013
21515042@unknown@formal@none@1@S@Falconbridge, he says, will continue operating in its current form.@@@@1@10@@oe@2-2-2013
21515043@unknown@formal@none@1@S@"We'd be reluctant to accept 50-50 ownership in a manufacturing company.@@@@1@11@@oe@2-2-2013
21515044@unknown@formal@none@1@S@But such partnerships are common in mining, where there aren't problems or conflict of interest or risk of cheating by a partner," Trelleborg's president says.@@@@1@25@@oe@2-2-2013
21515045@unknown@formal@none@1@S@Perhaps more important, both companies share Mr. Andersson's belief in the coming renaissance of base industries.@@@@1@16@@oe@2-2-2013
21515046@unknown@formal@none@1@S@"If the 1980s were a decade of consumption, the '90s will be the investment decade," Mr. Andersson says.@@@@1@18@@oe@2-2-2013
21515047@unknown@formal@none@1@S@"The whole of Europe and the industrialized world is suffering from a breakdown in infrastructure investment," he says.@@@@1@18@@oe@2-2-2013
21515048@unknown@formal@none@1@S@"That's beginning to change.@@@@1@4@@oe@2-2-2013
21515049@unknown@formal@none@1@S@And investment is the key word for base metals, and most other businesses Trelleborg is in.@@@@1@16@@oe@2-2-2013
21516001@unknown@formal@none@1@S@Apple Computer Inc. posted improved fiscal fourth-quarter profit due largely to a $48 million gain on the sale of its stock in Adobe Systems Inc.@@@@1@25@@oe@2-2-2013
21516002@unknown@formal@none@1@S@Excluding the gain, the company registered a modest 4.6% increase for the quarter ended Sept. 29 to $113 million, or 87 cents a share, from the year-earlier $107.9 million, or 84 cents a share.@@@@1@34@@oe@2-2-2013
21516003@unknown@formal@none@1@S@Proceeds of the Adobe sale brought net income in the quarter to $161.1 million, or $1.24 a share.@@@@1@18@@oe@2-2-2013
21516004@unknown@formal@none@1@S@Apple shares fell 75 cents in over-the-counter trading to close at $48 a share.@@@@1@14@@oe@2-2-2013
21516005@unknown@formal@none@1@S@Fiscal fourth-quarter sales grew about 18% to $1.38 billion from $1.17 billion a year earlier.@@@@1@15@@oe@2-2-2013
21516006@unknown@formal@none@1@S@Without the Adobe gain, Apple's full-year operating profit edged up 1.5% to $406 million, or $3.16 a share, from $400.3 million, or $3.08 a share.@@@@1@25@@oe@2-2-2013
21516007@unknown@formal@none@1@S@Including the Adobe gain, full-year net was $454 million, or $3.53 a share.@@@@1@13@@oe@2-2-2013
21516008@unknown@formal@none@1@S@Sales for the year rose nearly 30% to $5.28 billion from $4.07 billion a year earlier.@@@@1@16@@oe@2-2-2013
21516009@unknown@formal@none@1@S@John Sculley, chairman and chief executive officer, credited the Macintosh SE/30 and IIcx computers, introduced in the winter, for the brightened sales performance.@@@@1@23@@oe@2-2-2013
21516010@unknown@formal@none@1@S@Mr. Sculley also indicated that sagging margins, which dogged the company through most of 1989, began to turn up in the fourth quarter as chip prices eased.@@@@1@27@@oe@2-2-2013
21516011@unknown@formal@none@1@S@"Adverse pressure on gross margins . . . has subsided," Mr. Sculley said.@@@@1@13@@oe@2-2-2013
21516012@unknown@formal@none@1@S@Margins in the fiscal fourth quarter perked up, rising to 51% from 49.2% a year earlier.@@@@1@16@@oe@2-2-2013
21516013@unknown@formal@none@1@S@For all of fiscal 1989, however, the average gross margin was 49%, below the average 1988 gross margin of 51%.@@@@1@20@@oe@2-2-2013
21516014@unknown@formal@none@1@S@Lower component costs -- especially for DRAMs, or dynamic random access memory chips -- were cited for the easing of margin pressure on the company, a spokeswoman said.@@@@1@28@@oe@2-2-2013
21516015@unknown@formal@none@1@S@Looking ahead to 1990, Mr. Sculley predicted "another year of significant revenue growth," along with improved profitability, as the recovery in gross margins continues into 1990.@@@@1@26@@oe@2-2-2013
21517001@unknown@formal@none@1@S@Gary J. Schantz, 44 years old, was named president and chief operating officer.@@@@1@13@@oe@2-2-2013
21517002@unknown@formal@none@1@S@Polymerix makes lumber-like materials that it describes as "plastic wood."@@@@1@10@@oe@2-2-2013
21517003@unknown@formal@none@1@S@The operating chief's post is new.@@@@1@6@@oe@2-2-2013
21517004@unknown@formal@none@1@S@Martin Schrager, 51, who had been president, was named vice chairman.@@@@1@11@@oe@2-2-2013
21517005@unknown@formal@none@1@S@He remains chief executive officer.@@@@1@5@@oe@2-2-2013
21517006@unknown@formal@none@1@S@Mr. Schantz was vice president and chief operating officer of the Acrylic division of Polycast Technology Corp.@@@@1@17@@oe@2-2-2013
21517007@unknown@formal@none@1@S@Separately, the board expanded to six members with the election of David L. Holewinski, a consultant.@@@@1@16@@oe@2-2-2013
21517008@unknown@formal@none@1@S@The company also said it privately placed stock and warrants in exchange for $750,000.@@@@1@14@@oe@2-2-2013
21518001@unknown@formal@none@1@S@Terry L. Haines, formerly general manager of Canadian operations, was elected to the new position of vice president, North American sales, of this plastics concern.@@@@1@25@@oe@2-2-2013
21518002@unknown@formal@none@1@S@Also, Larry A. Kushkin, executive vice president, North American operations, was named head of the company's international automotive operations, another new position.@@@@1@22@@oe@2-2-2013
21518003@unknown@formal@none@1@S@He remains an executive vice president, the company said, and his new position reflects "the growing importance of the world automotive market as a market for A. Schulman's high performance plastic materials."@@@@1@32@@oe@2-2-2013
21518004@unknown@formal@none@1@S@Gordon Trimmer will succeed Mr. Haines as manager of Canadian operations, and Mr. Kushkin's former position isn't being filled at this time, the company said.@@@@1@25@@oe@2-2-2013
21519001@unknown@formal@none@1@S@General Electric Co. said it signed a contract with the developers of the Ocean State Power project for the second phase of an independent $400 million power plant, which is being built in Burrillville, R.I.@@@@1@35@@oe@2-2-2013
21519002@unknown@formal@none@1@S@GE, along with a division of Ebasco, a subsidiary of Enserch Corp., have been building the first 250-megawatt phase of the project, which they expect to complete in late 1990.@@@@1@30@@oe@2-2-2013
21519003@unknown@formal@none@1@S@The second portion will be completed the following year.@@@@1@9@@oe@2-2-2013
21519004@unknown@formal@none@1@S@GE's Power Generation subsidiary will operate and maintain the plant upon its completion.@@@@1@13@@oe@2-2-2013
21520001@unknown@formal@none@1@S@The Environmental Protection Agency is getting a lot out of the Superfund program.@@@@1@13@@oe@2-2-2013
21520002@unknown@formal@none@1@S@Of the $4.4 billion spent so far on the program, 60% is going for administrative costs, management and research, the Office of Technology Assessment just reported.@@@@1@26@@oe@2-2-2013
21520003@unknown@formal@none@1@S@Only 36 of 1,200 priority cleanup sites have been "decontaminated."@@@@1@10@@oe@2-2-2013
21520004@unknown@formal@none@1@S@Over the next 50 years, $500 billion is earmarked for the program.@@@@1@12@@oe@2-2-2013
21520005@unknown@formal@none@1@S@At current allocations, that means EPA will be spending $300 billion on itself.@@@@1@13@@oe@2-2-2013
21520006@unknown@formal@none@1@S@It may not be toxic, but we know where one waste dump is.@@@@1@13@@oe@2-2-2013
21521001@unknown@formal@none@1@S@Chambers Development Co. said its Security Bureau Inc. unit purchased two security concerns in Florida that will add $2.1 million of annual revenue.@@@@1@23@@oe@2-2-2013
21521002@unknown@formal@none@1@S@Purchase of the businesses serving Miami, Fort Lauderdale and West Palm Beach, Fla., is part of a plan by Chambers to expand in the growing security industry.@@@@1@27@@oe@2-2-2013
21521003@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21522001@unknown@formal@none@1@S@Basf AG said it moved its headquarters for Latin America to Mexico and the headquarters for the Asia/Australia regional division to Singapore, effective Oct.@@@@1@24@@oe@2-2-2013
21522002@unknown@formal@none@1@S@The central offices for both regions were previously located in Ludwigshafen, Basf headquarters.@@@@1@13@@oe@2-2-2013
21522003@unknown@formal@none@1@S@The West German chemical concern called the moves a further step in the internationalization of its business activities.@@@@1@18@@oe@2-2-2013
21522004@unknown@formal@none@1@S@Both regions are the fastest-growing areas for Basf, the company said.@@@@1@11@@oe@2-2-2013
21523001@unknown@formal@none@1@S@David H. Eisenberg, 53 years old, was named president and chief operating officer of Imasco's 500-store Peoples Drug Stores Inc. unit, based in Alexandria, Va.@@@@1@25@@oe@2-2-2013
21523002@unknown@formal@none@1@S@Mr. Eisenberg was senior executive vice president and chief operating officer.@@@@1@11@@oe@2-2-2013
21523003@unknown@formal@none@1@S@Imasco is a tobacco, retailing, restaurant and financial services concern.@@@@1@10@@oe@2-2-2013
21524001@unknown@formal@none@1@S@Lotus Development Corp. is in talks to sell its Signal stock-quote service to Infotechnology Inc., the New York parent of Financial News Network, people familiar with the negotiations said.@@@@1@29@@oe@2-2-2013
21524002@unknown@formal@none@1@S@They said the price would be around $10 million.@@@@1@9@@oe@2-2-2013
21524003@unknown@formal@none@1@S@Signal, which has an estimated 10,000 subscribers and is profitable, provides stock quotes over an FM radio band that can be received by specially equipped personal computers.@@@@1@27@@oe@2-2-2013
21524004@unknown@formal@none@1@S@The computers will display stock prices selected by users.@@@@1@9@@oe@2-2-2013
21524005@unknown@formal@none@1@S@Lotus, Cambridge, Mass., has been rumored to have the sale of the four-year-old unit under consideration for a year.@@@@1@19@@oe@2-2-2013
21524006@unknown@formal@none@1@S@The business isn't related to Lotus's main businesses of making computer software and publishing information on compact disks.@@@@1@18@@oe@2-2-2013
21525001@unknown@formal@none@1@S@"Please submit your offers," says Felipe Bince Jr.@@@@1@8@@oe@2-2-2013
21525002@unknown@formal@none@1@S@He surveys the prospective investors gathered in the board room of the Philippine government's Asset Privatization Trust for the sale of a 36% interest in the country's largest paper mill.@@@@1@30@@oe@2-2-2013
21525003@unknown@formal@none@1@S@The agency expects the bids to be equivalent of more than $80 million.@@@@1@13@@oe@2-2-2013
21525004@unknown@formal@none@1@S@Not a peso is offered.@@@@1@5@@oe@2-2-2013
21525005@unknown@formal@none@1@S@Mr. Bince, the trust's associate executive trustee, declares the bidding a failure.@@@@1@12@@oe@2-2-2013
21525006@unknown@formal@none@1@S@"It's getting harder to sell," he mutters as he leaves the room.@@@@1@12@@oe@2-2-2013
21525007@unknown@formal@none@1@S@Indeed. Recently, the trust failed to auction off the paper mill, a bank, an office building and a small cotton-ginning plant.@@@@1@21@@oe@2-2-2013
21525008@unknown@formal@none@1@S@Of the four, only the bank and the plant drew bids -- one apiece.@@@@1@14@@oe@2-2-2013
21525009@unknown@formal@none@1@S@In October 1987, President Corazon Aquino vowed that her government would "get out of business" by selling all or part of the state's holdings in the many companies taken over by the government during the 20-year rule of Ferdinand Marcos.@@@@1@40@@oe@2-2-2013
21525010@unknown@formal@none@1@S@Two years later, Mrs. Aquino's promise remains largely unfulfilled.@@@@1@9@@oe@2-2-2013
21525011@unknown@formal@none@1@S@October is a critical month for the privatization program.@@@@1@9@@oe@2-2-2013
21525012@unknown@formal@none@1@S@Manila is offering several major assets for the first time and is trying to conclude sales already arranged.@@@@1@18@@oe@2-2-2013
21525013@unknown@formal@none@1@S@In addition, the government is scheduled to unveil plans for privatizing Philippine Airlines, the national carrier, an effort that lawyer and business columnist Rodolfo Romero calls "the bellwether of privatization."@@@@1@30@@oe@2-2-2013
21525014@unknown@formal@none@1@S@All told, there are assets on the line valued at up to $1.03 billion.@@@@1@14@@oe@2-2-2013
21525015@unknown@formal@none@1@S@The privatization program is designed to rid the government of hundreds of assets and to raise critically needed funds.@@@@1@19@@oe@2-2-2013
21525016@unknown@formal@none@1@S@Much of the money from the sales is earmarked for a multibillion-dollar agrarian-reform program.@@@@1@14@@oe@2-2-2013
21525017@unknown@formal@none@1@S@But efforts have been thwarted by official indifference, bureaucratic resistance, a legal system that operates at a snail's pace, political opposition and government misjudgments.@@@@1@24@@oe@2-2-2013
21525018@unknown@formal@none@1@S@Most recently, a lack of buyers has been added to the list.@@@@1@12@@oe@2-2-2013
21525019@unknown@formal@none@1@S@Rather than gathering momentum, the program is in danger of slowing even more as the government tackles several big assets.@@@@1@20@@oe@2-2-2013
21525020@unknown@formal@none@1@S@The axiom appears to be that the more valuable the asset, the harder the privatization process.@@@@1@16@@oe@2-2-2013
21525021@unknown@formal@none@1@S@"You just don't see a whole lot happening," says an international economist.@@@@1@12@@oe@2-2-2013
21525022@unknown@formal@none@1@S@To be sure, the program hasn't completely stalled.@@@@1@8@@oe@2-2-2013
21525023@unknown@formal@none@1@S@The Asset Privatization Trust, the agency chiefly responsible for selling government-held properties, has recorded sales of more than $500 million since it began functioning in December 1986.@@@@1@27@@oe@2-2-2013
21525024@unknown@formal@none@1@S@But its success has been largely in the sale of small, nonperforming companies, which are valued for their assets.@@@@1@19@@oe@2-2-2013
21525025@unknown@formal@none@1@S@Dealing with the sales this month could be particularly challenging because almost every problem that has hobbled the program in the past is popping up again.@@@@1@26@@oe@2-2-2013
21525026@unknown@formal@none@1@S@Ramon Garcia, the Asset Trust's executive trustee, admits to what he calls "temporary setbacks."@@@@1@14@@oe@2-2-2013
21525027@unknown@formal@none@1@S@In light of the poor results recently, he says, the agency is adopting an "attitude of flexibility."@@@@1@17@@oe@2-2-2013
21525028@unknown@formal@none@1@S@October's troubles began when the trust failed to sell a state-owned commercial bank, Associated Bank, for the minimum price of 671 million pesos ($31 million).@@@@1@25@@oe@2-2-2013
21525029@unknown@formal@none@1@S@At the end of the month, the agency again will offer the bank.@@@@1@13@@oe@2-2-2013
21525030@unknown@formal@none@1@S@But instead of a minimum price, only a target price will be established.@@@@1@13@@oe@2-2-2013
21525031@unknown@formal@none@1@S@Bankers say, however, that the government may have difficulty selling the institution even without a floor price.@@@@1@17@@oe@2-2-2013
21525032@unknown@formal@none@1@S@The bank has a negative net worth, they say.@@@@1@9@@oe@2-2-2013
21525033@unknown@formal@none@1@S@In addition, special bidding rules give the bank's former owner, Leonardo Ty, the right to match the highest bid.@@@@1@19@@oe@2-2-2013
21525034@unknown@formal@none@1@S@Mr. Ty lost control to the government in 1980 when a government bank made emergency loans to the cash-strapped institution.@@@@1@20@@oe@2-2-2013
21525035@unknown@formal@none@1@S@In 1983, the loans were converted into equity, giving Manila 98% of the bank, but with the understanding that Mr. Ty had repurchase rights.@@@@1@24@@oe@2-2-2013
21525036@unknown@formal@none@1@S@His ability to match any bid has scared off many potential buyers.@@@@1@12@@oe@2-2-2013
21525037@unknown@formal@none@1@S@Separately, the government will try again within a month to sell the 36% stake in Paper Industries Corp. of the Philippines, or Picop, as the paper mill is known.@@@@1@29@@oe@2-2-2013
21525038@unknown@formal@none@1@S@The price will depend on how much Picop shares fetch on the local stock market.@@@@1@15@@oe@2-2-2013
21525039@unknown@formal@none@1@S@But according to bankers and stock analysts who have studied the paper mill, price isn't the only consideration.@@@@1@18@@oe@2-2-2013
21525040@unknown@formal@none@1@S@As it stands now, the government would continue to hold 45% of Picop after the 36% stake is sold.@@@@1@19@@oe@2-2-2013
21525041@unknown@formal@none@1@S@(About 7.5% of Picop is publicly traded and other shareholders own the rest of the equity.)@@@@1@16@@oe@2-2-2013
21525042@unknown@formal@none@1@S@Potential buyers, mostly foreign companies, are reluctant to take a non-controlling stake in a company that, by the government's own reckoning, needs some $100 million in new capital for rehabilitation.@@@@1@30@@oe@2-2-2013
21525043@unknown@formal@none@1@S@The prospect of buying into a cash-hungry company without getting management control persuaded at least three foreign buyers, including a member of the Elders group of Australia, to pull out of the bidding, the bankers and analysts say.@@@@1@38@@oe@2-2-2013
21525044@unknown@formal@none@1@S@Mr. Garcia acknowledges the problem and says the Asset Trust will study why the bidding failed and what changes the agency may be able to offer.@@@@1@26@@oe@2-2-2013
21525045@unknown@formal@none@1@S@Under government regulations, however, foreign ownership of Picop's equity is limited to 40%.@@@@1@13@@oe@2-2-2013
21525046@unknown@formal@none@1@S@Even though the government would retain the 45% stake in Picop, critics have accused the trust of selling out to foreigners.@@@@1@21@@oe@2-2-2013
21525047@unknown@formal@none@1@S@A series of newspaper articles accused the trust of short-changing the government over the Picop sale.@@@@1@16@@oe@2-2-2013
21525048@unknown@formal@none@1@S@Mr. Garcia says he has been notified of congressional hearings on the Picop bidding and possible legislation covering the paper mill's sale, both prompted by the criticism of the agency.@@@@1@30@@oe@2-2-2013
21525049@unknown@formal@none@1@S@The question of control could further hinder long-delayed plans for the government to divest itself of Philippine Airlines, in which it has a 99% stake.@@@@1@25@@oe@2-2-2013
21525050@unknown@formal@none@1@S@The carrier has valuable trans-Pacific and Asian routes but it remains debt-laden and poorly managed.@@@@1@15@@oe@2-2-2013
21526001@unknown@formal@none@1@S@This maker of electronic measuring devices named two new directors, increasing board membership to nine.@@@@1@15@@oe@2-2-2013
21526002@unknown@formal@none@1@S@The new directors are Gordon M. Sprenger, president and chief executive officer of LifeSpan Inc., and Peter S. Willmott, chairman and chief executive officer of Willmott Services Inc.@@@@1@28@@oe@2-2-2013
21527001@unknown@formal@none@1@S@Gerard E. Wood, 51 years old, was elected president, chief executive officer and a director of this minerals and materials company.@@@@1@21@@oe@2-2-2013
21527002@unknown@formal@none@1@S@He succeeds Harry A. Durney, 65, who is retiring from active duty but remains a director and consultant.@@@@1@18@@oe@2-2-2013
21527003@unknown@formal@none@1@S@Mr. Wood has been president and chief executive of Steep Rock Resources Inc.@@@@1@13@@oe@2-2-2013
21528001@unknown@formal@none@1@S@Eagle Financial Corp. and Webster Financial Corp., two Connecticut savings bank-holding companies, agreed to merge in a tax-free stock transaction.@@@@1@20@@oe@2-2-2013
21528002@unknown@formal@none@1@S@The new holding company, Webster/Eagle Bancorp Inc., will have about $1.2 billion of assets and 19 banking offices in Connecticut.@@@@1@20@@oe@2-2-2013
21528003@unknown@formal@none@1@S@Tangible capital will be about $115 million.@@@@1@7@@oe@2-2-2013
21528004@unknown@formal@none@1@S@The merger is subject to regulatory clearance and a definitive agreement.@@@@1@11@@oe@2-2-2013
21528005@unknown@formal@none@1@S@In the merger, each share of Webster, based in Waterbury, will be converted into one share of the new company.@@@@1@20@@oe@2-2-2013
21528006@unknown@formal@none@1@S@Each share of Eagle, based in Bristol, will become 0.95 share of Webster/Eagle.@@@@1@13@@oe@2-2-2013
21528007@unknown@formal@none@1@S@In American Stock Exchange composite trading Friday, Eagle shares rose 12.5 cents to $11.@@@@1@14@@oe@2-2-2013
21528008@unknown@formal@none@1@S@In national over-the-counter trading, Webster shares fell 25 cents to $12.375.@@@@1@11@@oe@2-2-2013
21528009@unknown@formal@none@1@S@Webster has 3.5 million shares outstanding and Eagle 2.6 million.@@@@1@10@@oe@2-2-2013
21528010@unknown@formal@none@1@S@Their indicated market values thus are about $43.3 million and $28.6 million, respectively.@@@@1@13@@oe@2-2-2013
21528011@unknown@formal@none@1@S@Frank J. Pascale, chairman of Eagle, will be chairman of the new firm and James C. Smith, president and chief executive officer of Webster, will take those posts at Webster/Eagle.@@@@1@30@@oe@2-2-2013
21528012@unknown@formal@none@1@S@Harold W. Smith Sr., chairman of Webster, will become chairman emeritus and a director of the new company.@@@@1@18@@oe@2-2-2013
21528013@unknown@formal@none@1@S@Ralph T. Linsley, vice chairman of Eagle, will become vice chairman of Webster/Eagle.@@@@1@13@@oe@2-2-2013
21528014@unknown@formal@none@1@S@The board will be made up of seven directors of each holding company.@@@@1@13@@oe@2-2-2013
21528015@unknown@formal@none@1@S@In an interview, James Smith said the banks' "markets are contiguous and their business philosophies are similar and conservative."@@@@1@19@@oe@2-2-2013
21528016@unknown@formal@none@1@S@Nonperforming loans will make up only about 0.5% of the combined banks' total loans outstanding, he said.@@@@1@17@@oe@2-2-2013
21528017@unknown@formal@none@1@S@At June 30, Webster, which owns First Federal Savings & Loan Association of Waterbury, had assets of $699 million.@@@@1@19@@oe@2-2-2013
21528018@unknown@formal@none@1@S@Eagle, which controls Bristol Federal Savings Bank and First Federal Savings & Loan Association of Torrington, had assets of $469.6 million on that date.@@@@1@24@@oe@2-2-2013
21529001@unknown@formal@none@1@S@Guillermo Ortiz's Sept. 15 Americas column, "Mexico's Been Bitten by the Privatization Bug," is a refreshingly clear statement of his government's commitment to privatization, and must be welcomed as such by all Americans who wish his country well.@@@@1@38@@oe@2-2-2013
21529002@unknown@formal@none@1@S@The Mexico-United States Institute is glad to see such a high official as Mexico's undersecretary of finance view his country's reforms "in the context of a larger, world-wide process" of profound change toward free-market economics, especially in the statist countries.@@@@1@40@@oe@2-2-2013
21529003@unknown@formal@none@1@S@Having said that, we must caution against an apparent tendency to overstate the case.@@@@1@14@@oe@2-2-2013
21529004@unknown@formal@none@1@S@It is not quite true, for example, that the Mexican government has "privatized" Mexicana de Aviacion, as Mr. Ortiz claims.@@@@1@20@@oe@2-2-2013
21529005@unknown@formal@none@1@S@In the same sentence he contradicts himself when he reports that the government still retains 40% of the total equity of the airline.@@@@1@23@@oe@2-2-2013
21529006@unknown@formal@none@1@S@How can a company be considered "privatized" if the state is so heavily represented in it?@@@@1@16@@oe@2-2-2013
21529007@unknown@formal@none@1@S@(True, the Mexican government has granted "control" over the airline to a new private consortium, but its propensity to take back what it gives is too well known to permit one to be sanguine.)@@@@1@34@@oe@2-2-2013
21529008@unknown@formal@none@1@S@Regrettably, too, Mr. Ortiz resorts to the familiar "numbers game" when he boasts that "fewer than 392 {state enterprises} currently remain in the public sector," down from the "1,155 public entities that existed in 1982.@@@@1@35@@oe@2-2-2013
21529009@unknown@formal@none@1@S@" But the enterprises still in state hands include the biggest and most economically powerful ones in Mexico; indeed, they virtually constitute the economic infrastructure.@@@@1@25@@oe@2-2-2013
21529010@unknown@formal@none@1@S@I refer essentially to petroleum, electric power, banking and newsprint.@@@@1@10@@oe@2-2-2013
21529011@unknown@formal@none@1@S@Those enterprises, however, are not going to be privatized.@@@@1@9@@oe@2-2-2013
21529012@unknown@formal@none@1@S@They are officially considered "strategic," and their privatization is prohibited by the Mexican Constitution.@@@@1@14@@oe@2-2-2013
21529013@unknown@formal@none@1@S@In language that sidesteps the issue, Mr. Ortiz writes, "The divestiture of nonpriority and nonstrategic public enterprises is an essential element of President Carlos Salinas's plan to modernize Mexico's economy. . . ."@@@@1@33@@oe@2-2-2013
21529014@unknown@formal@none@1@S@Yet clearly, modernization must embrace its key industries before it can be said to have caught the "privatization bug."@@@@1@19@@oe@2-2-2013
21529015@unknown@formal@none@1@S@The bottom line, however, is not economic but political reform.@@@@1@10@@oe@2-2-2013
21529016@unknown@formal@none@1@S@A long succession of Mexican presidents arbitrarily nationalized whatever industry they took a fancy to, without having to answer to the public.@@@@1@22@@oe@2-2-2013
21529017@unknown@formal@none@1@S@To guarantee that Mexicana de Aviacion and other companies will really be privatized, Mexico needs a pluri-party political system that will ensure democracy and hence accountability.@@@@1@26@@oe@2-2-2013
21529018@unknown@formal@none@1@S@Daniel James President Mexico-United States Institute@@@@1@6@@oe@2-2-2013
21530001@unknown@formal@none@1@S@The board of this Ponce, Puerto Rico concern voted to suspend payment of its quarterly of 11 cents a share for the third quarter.@@@@1@24@@oe@2-2-2013
21530002@unknown@formal@none@1@S@The third-largest thrift institution in Puerto Rico also said it expects a return to profitability in the third quarter when it reports operating results this week.@@@@1@26@@oe@2-2-2013
21530003@unknown@formal@none@1@S@Ponce Federal said the dividend was suspended in anticipation of more stringent capital requirements under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.@@@@1@25@@oe@2-2-2013
21531001@unknown@formal@none@1@S@A labor-management group is preparing a revised buy-out bid for United Airlines parent UAL Corp. that would transfer majority ownership to employees while leaving some stock in public hands, according to people familiar with the group.@@@@1@36@@oe@2-2-2013
21531002@unknown@formal@none@1@S@The group has been discussing a proposal valued in a range of $225 to $240 a share, or $5.09 billion to $5.42 billion.@@@@1@23@@oe@2-2-2013
21531003@unknown@formal@none@1@S@But to avoid the risk of rejection, the group doesn't plan to submit the plan formally at a UAL board meeting today.@@@@1@22@@oe@2-2-2013
21531004@unknown@formal@none@1@S@Instead, the group is raising the proposal informally to try to test the board's reaction.@@@@1@15@@oe@2-2-2013
21531005@unknown@formal@none@1@S@People familiar with the company say the board isn't likely to give quick approval to any offer substantially below the $300-a-share, $6.79 billion buy-out bid that collapsed last week after banks wouldn't raise needed loans and after a key partner, British Airways PLC, dropped out.@@@@1@45@@oe@2-2-2013
21531006@unknown@formal@none@1@S@In composite trading Friday on the New York Stock Exchange, UAL closed at $168.50 a share, down $21.625.@@@@1@18@@oe@2-2-2013
21531007@unknown@formal@none@1@S@But the pilots union, which has been pushing for a takeover since 1987, appears to be pressing ahead with the revised bid to avoid further loss of momentum even though it hasn't found a partner to replace British Air.@@@@1@39@@oe@2-2-2013
21531008@unknown@formal@none@1@S@Although the bidding group hasn't had time to develop its latest idea fully or to discuss it with banks, it believes bank financing could be obtained.@@@@1@26@@oe@2-2-2013
21531009@unknown@formal@none@1@S@After the collapse of the last effort, the group doesn't plan to make any formal proposal without binding commitments from banks covering the entire amount to be borrowed.@@@@1@28@@oe@2-2-2013
21531010@unknown@formal@none@1@S@Under the type of transaction being discussed, the pilot-management group would borrow several billion dollars from banks that could then be used to finance a cash payment to current holders.@@@@1@30@@oe@2-2-2013
21531011@unknown@formal@none@1@S@Those current holders would also receive minority interests in the new company.@@@@1@12@@oe@2-2-2013
21531012@unknown@formal@none@1@S@For example, the group could offer $200 a share in cash plus stock valued at $30 a share.@@@@1@18@@oe@2-2-2013
21531013@unknown@formal@none@1@S@UAL currently has 22.6 million shares, fully diluted.@@@@1@8@@oe@2-2-2013
21531014@unknown@formal@none@1@S@The new structure would be similar to a recapitalization in which holders get a special dividend yet retain a controlling ownership interest.@@@@1@22@@oe@2-2-2013
21531015@unknown@formal@none@1@S@The difference is that current holders wouldn't retain majority ownership or control.@@@@1@12@@oe@2-2-2013
21531016@unknown@formal@none@1@S@The failed takeover would have given UAL employees 75% voting control of the nation's second-largest airline, with management getting 10% control and British Air 15%.@@@@1@25@@oe@2-2-2013
21531017@unknown@formal@none@1@S@It wasn't clear how the ownership would stack up under the new plan, but employees would keep more than 50%.@@@@1@20@@oe@2-2-2013
21531018@unknown@formal@none@1@S@Management's total could be reduced, and the public could get more than the 15% control that had been earmarked for British Air.@@@@1@22@@oe@2-2-2013
21531019@unknown@formal@none@1@S@One option the board is likely to consider today is some sort of cooling-off period.@@@@1@15@@oe@2-2-2013
21531020@unknown@formal@none@1@S@Although the pilots are expected to continue to pursue the bid, UAL Chairman Stephen Wolf may be asked to withdraw from the buy-out effort, at least temporarily, and to return to running the company full time.@@@@1@36@@oe@2-2-2013
21531021@unknown@formal@none@1@S@The board could eventually come under some pressure to sell the company because its members can be ousted by a majority shareholder vote, particularly since one-third of UAL stock is held by takeover stock speculators who favor a sale.@@@@1@39@@oe@2-2-2013
21531022@unknown@formal@none@1@S@The labor-management buy-out group plans to keep its offer on the table in an apparent attempt to maintain its bargaining position with the board.@@@@1@24@@oe@2-2-2013
21531023@unknown@formal@none@1@S@However, the only outsider who has emerged to lead such a shareholder vote, Los Angeles investor Marvin Davis, who triggered the buy-out with a $5.4 billion bid in early August, is hanging back -- apparently to avoid being blamed for contributing to the deal's collapse.@@@@1@45@@oe@2-2-2013
21531024@unknown@formal@none@1@S@Three top advisers to Mr. Davis visited New York late last week, at least in part to confer with executives at Citicorp.@@@@1@22@@oe@2-2-2013
21531025@unknown@formal@none@1@S@Mr. Davis had paid $6 million for Citicorp's backing of his last bid.@@@@1@13@@oe@2-2-2013
21531026@unknown@formal@none@1@S@But Citicorp has lost some credibility because it also led the unsuccessful effort to gain bank loans for the labor-management group.@@@@1@21@@oe@2-2-2013
21531027@unknown@formal@none@1@S@On Friday, British Air issued a statement saying it "does not intend to participate in any new deal for the acquisition of UAL in the foreseeable future."@@@@1@27@@oe@2-2-2013
21531028@unknown@formal@none@1@S@However, several people said that British Air might yet rejoin the bidding group and that the carrier made the statement to answer questions from British regulators about how it plans to use proceeds of a securities offering previously earmarked for the UAL buy-out.@@@@1@43@@oe@2-2-2013
21531029@unknown@formal@none@1@S@Also late last week, UAL flight attendants agreed to participate with the pilots in crafting a revised offer.@@@@1@18@@oe@2-2-2013
21531030@unknown@formal@none@1@S@But the machinists union, whose opposition helped scuttle the first buy-out bid, is likely to favor a recapitalization with a friendly third-party investor.@@@@1@23@@oe@2-2-2013
21531031@unknown@formal@none@1@S@One advantage the buy-out group intends to press with the board is that pilots have agreed to make $200 million in annual cost concessions to help finance a bid.@@@@1@29@@oe@2-2-2013
21531032@unknown@formal@none@1@S@Speculation has also arisen that the UAL executive most closely identified with the failure to gain bank financing, chief financial officer John Pope, may come under pressure to resign.@@@@1@29@@oe@2-2-2013
21531033@unknown@formal@none@1@S@However, people familiar with the buy-out group said Mr. Pope's departure would weaken the airline's management at a critical time.@@@@1@20@@oe@2-2-2013
21531034@unknown@formal@none@1@S@Despite the buy-out group's failure to obtain financing, UAL remains obligated to pay $26.7 million in investment banking and legal fees to the group's advisers, Lazard Freres & Co., Salomon Brothers Inc., and Paul Weiss Rifkind Wharton & Garrison.@@@@1@39@@oe@2-2-2013
21532001@unknown@formal@none@1@S@Whittle Communications Limited Partnership, Knoxville, Tenn., will launch its first media property targeting Hispanic women.@@@@1@15@@oe@2-2-2013
21532002@unknown@formal@none@1@S@"La Familia de Hoy," or "Today's Family," will debut this spring and will combine a national bimonthly magazine and TV programming.@@@@1@21@@oe@2-2-2013
21532003@unknown@formal@none@1@S@The television element of "La Familia" includes a series of two-minute informational features to air seven days a week on the Spanish-language Univision network, a unit of Univision Holdings Inc., which is 80%-owned by Hallmark Cards Inc.@@@@1@37@@oe@2-2-2013
21532004@unknown@formal@none@1@S@The features will focus on "parenting, family health and nutrition, and financial management," and will carry 30 seconds of advertising.@@@@1@20@@oe@2-2-2013
21532005@unknown@formal@none@1@S@The magazines, also ad-supported, will be distributed in more than 10,000 doctors' offices, clinics, and health centers in Hispanic and largely Hispanic communities.@@@@1@23@@oe@2-2-2013
21533001@unknown@formal@none@1@S@WEIRTON STEEL Corp. said it completed a $300 million sale of 10-year notes, the final step in the 1984 buy-out of the company from National Steel Corp.@@@@1@27@@oe@2-2-2013
21533002@unknown@formal@none@1@S@The 10 7/8% notes were priced at 99.5% to yield 10.958% in an offering managed by Bear, Stearns & Co., Shearson Lehman Hutton Inc. and Lazard Freres & Co., the company said.@@@@1@32@@oe@2-2-2013
21533003@unknown@formal@none@1@S@Weirton, of Weirton, W. Va., said $60.3 million of the proceeds were used to prepay the remaining amounts on the note outstanding to National Intergroup Inc., the parent of National Steel.@@@@1@31@@oe@2-2-2013
21533004@unknown@formal@none@1@S@Remaining proceeds were used to pay other debt and to finance the company's capital spending program.@@@@1@16@@oe@2-2-2013
21534001@unknown@formal@none@1@S@Lep Group PLC of Britain, which holds a 62.42% stake in Profit Systems Inc., said it is considering courses of action that could result in its having "active control" of the company.@@@@1@32@@oe@2-2-2013
21534002@unknown@formal@none@1@S@In a filing with the Securities and Exchange Commission, Lep Group said a possible course of action may include acquiring some or all of the Profit Systems shares it doesn't already own.@@@@1@32@@oe@2-2-2013
21534003@unknown@formal@none@1@S@It noted, however, that it hasn't determined any specific terms of a possible transaction.@@@@1@14@@oe@2-2-2013
21534004@unknown@formal@none@1@S@Lep Group and affiliates currently control 3,513,072 Profit Systems common shares, or 62.42%, the filing said.@@@@1@16@@oe@2-2-2013
21534005@unknown@formal@none@1@S@Profit Systems, Valley Stream, N.Y., is an air freight forwarding concern.@@@@1@11@@oe@2-2-2013
21535001@unknown@formal@none@1@S@U.S. official reserve assets rose $6.05 billion in September, to $68.42 billion, the Treasury Department said.@@@@1@16@@oe@2-2-2013
21535002@unknown@formal@none@1@S@The gain compared with a $1.10 billion decline in reserve assets in August to $62.36 billion, the department said.@@@@1@19@@oe@2-2-2013
21535003@unknown@formal@none@1@S@U.S. reserve assets consist of foreign currencies, gold, special drawing rights at the International Monetary Fund and the U.S. reserve position -- its ability to draw foreign currencies -- at the IMF.@@@@1@32@@oe@2-2-2013
21535004@unknown@formal@none@1@S@The nation's holdings of foreign currencies increased $5.67 billion in September to $39.08 billion, while its gold reserves were virtually unchanged at $11.07 billion.@@@@1@24@@oe@2-2-2013
21535005@unknown@formal@none@1@S@U.S. holdings of IMF special drawing rights last month rose $247 million, to $9.49 billion, and its reserve position at the IMF increased $142 million, to $8.79 billion.@@@@1@28@@oe@2-2-2013
21536001@unknown@formal@none@1@S@Alusuisse of America Inc. plans to sell its Consolidated Aluminum Corp. subsidiary as part of its strategy to focus more on aluminum packaging in the U.S.@@@@1@26@@oe@2-2-2013
21536002@unknown@formal@none@1@S@Alusuisse, of New York, declined to say how much it expects to get for the unit; the company has hired First Boston Corp. to help identify bidders.@@@@1@27@@oe@2-2-2013
21536003@unknown@formal@none@1@S@Alusuisse is a subsidiary of Swiss Aluminium Ltd., a Zurich, Switzerland, producer of aluminum, chemicals and packaging products.@@@@1@18@@oe@2-2-2013
21536004@unknown@formal@none@1@S@Consolidated, which had 1988 revenue of $400 million, makes aluminum sheet and foil products at its Hannibal, Ohio, and Jackson, Tenn., rolling mills and recycles aluminum at a plant in Bens Run, W.Va.@@@@1@33@@oe@2-2-2013
21537001@unknown@formal@none@1@S@Manhattan National Corp. said Michael A. Conway, president and chief executive officer, was elected chief executive of the holding company's two principal insurance subsidiaries.@@@@1@24@@oe@2-2-2013
21537002@unknown@formal@none@1@S@He succeeds Paul P. Aniskovich Jr., who resigned to pursue other business interests, the company said.@@@@1@16@@oe@2-2-2013
21537003@unknown@formal@none@1@S@Mr. Conway, 42 years old, was elected chairman, president and chief executive of Manhattan Life Insurance Co. and president and chief executive of Manhattan National Life Insurance Co.@@@@1@28@@oe@2-2-2013
21537004@unknown@formal@none@1@S@Harry Rossi, 69, chairman of the holding company, also remains chairman of Manhattan National Life Insurance Co.@@@@1@17@@oe@2-2-2013
21537005@unknown@formal@none@1@S@Mr. Conway was executive vice president and chief investment officer of Union Central Life Insurance Co., of Cincinnati, in 1987, when Union Central bought a 54% interest in Manhattan National Corp.@@@@1@31@@oe@2-2-2013
21537006@unknown@formal@none@1@S@He resigned as an officer of Central Life to accept the Manhattan National presidency.@@@@1@14@@oe@2-2-2013
21538001@unknown@formal@none@1@S@Daniel J. Terra, a director of First Illinois Corp., said that in August he reduced his stake in First Illinois to 26.48% of the common shares outstanding.@@@@1@27@@oe@2-2-2013
21538002@unknown@formal@none@1@S@In a filing with the Securities and Exchange Commission, Mr. Terra said he sold 263,684 First Illinois common shares from Aug. 9 to Aug. 28 for $9.9375 to $10.5625 a share.@@@@1@31@@oe@2-2-2013
21538003@unknown@formal@none@1@S@As a result of the sales he holds 6,727,042 shares.@@@@1@10@@oe@2-2-2013
21538004@unknown@formal@none@1@S@Mr. Terra said in the filing that he sold the stock to decrease his position in the Evanston, Ill., banking concern.@@@@1@21@@oe@2-2-2013
21538005@unknown@formal@none@1@S@He may sell more shares in the open market or in private transactions, but wouldn't rule out changing his intentions and buying shares, the filing said.@@@@1@26@@oe@2-2-2013
21539001@unknown@formal@none@1@S@SciMed Life Systems Inc., Minneapolis, said a federal appeals court vacated an earlier summary judgment in its favor.@@@@1@18@@oe@2-2-2013
21539002@unknown@formal@none@1@S@A lower court in St. Paul had ruled in September 1988 that a heart catheter SciMed manufactures doesn't infringe on a patent owned by Advanced Cardiovascular Systems, a unit of Eli Lilly & Co.@@@@1@34@@oe@2-2-2013
21539003@unknown@formal@none@1@S@SciMed said the appeals court remanded the case back to the district court for further proceedings.@@@@1@16@@oe@2-2-2013
21539004@unknown@formal@none@1@S@In national over-the-counter trading Friday, SciMed shares tumbled $2.75 to $43.@@@@1@11@@oe@2-2-2013
21539005@unknown@formal@none@1@S@SciMed said it "remains committed" both to the "vigorous defense" of its position that the catheter doesn't infringe the Lilly unit's patent, and to the pursuit of its own counterclaims, which allege Lilly engaged in antitrust violations and other wrongful acts.@@@@1@41@@oe@2-2-2013
21540001@unknown@formal@none@1@S@A REVISED BID FOR UAL is being prepared by a labor-management group, sources said.@@@@1@14@@oe@2-2-2013
21540002@unknown@formal@none@1@S@The new proposal, which would transfer majority ownership of United Air's parent to employees and leave some stock in public hands, would be valued at $225 to $240 a share, or as much as $5.42 billion.@@@@1@36@@oe@2-2-2013
21540003@unknown@formal@none@1@S@But UAL's board isn't expected to give quick approval to any offer substantially below the $300-a-share bid that collapsed recently.@@@@1@20@@oe@2-2-2013
21540004@unknown@formal@none@1@S@Takeover stock speculators have incurred paper losses of over $700 million from the failed UAL offer, their worst loss ever on a single deal.@@@@1@24@@oe@2-2-2013
21540005@unknown@formal@none@1@S@Ford and Saab ended talks about a possible alliance after Ford concluded that the cost to modernize Saab's car operations would outweigh the likely return.@@@@1@25@@oe@2-2-2013
21540006@unknown@formal@none@1@S@The collapse Friday prompted speculation that Ford would intensify its pursuit of Jaguar, which is negotiating a defensive alliance with GM.@@@@1@21@@oe@2-2-2013
21540007@unknown@formal@none@1@S@Stock prices edged up in quiet trading Friday.@@@@1@8@@oe@2-2-2013
21540008@unknown@formal@none@1@S@The Dow Jones industrials rose 5.94, to 2689.14, making the gain for the week a record 119.88 points, or 4.7%.@@@@1@20@@oe@2-2-2013
21540009@unknown@formal@none@1@S@Most bond prices fell, but junk bonds and the dollar rose.@@@@1@11@@oe@2-2-2013
21540010@unknown@formal@none@1@S@New York City bonds were sold off by many investors last week amid political and economic uncertainty.@@@@1@17@@oe@2-2-2013
21540011@unknown@formal@none@1@S@More banks are being hurt by Arizona's worsening real-estate slump.@@@@1@10@@oe@2-2-2013
21540012@unknown@formal@none@1@S@First Interstate Bancorp of Los Angeles said Friday it expects a $16 million quarterly loss, citing property-loan losses at its Arizona unit.@@@@1@22@@oe@2-2-2013
21540013@unknown@formal@none@1@S@OPEC's ability to produce more oil than it can sell is starting to cast a shadow over world oil markets.@@@@1@20@@oe@2-2-2013
21540014@unknown@formal@none@1@S@OPEC officials worry that prices could collapse a few months from now if the group doesn't adopt new quotas.@@@@1@19@@oe@2-2-2013
21540015@unknown@formal@none@1@S@Saatchi & Saatchi has attracted offers for some of its advertising units but has rejected them, sources said.@@@@1@18@@oe@2-2-2013
21540016@unknown@formal@none@1@S@The proposals, from suitors including Interpublic Group, come as the London-based ad giant struggles through its most difficult period ever.@@@@1@20@@oe@2-2-2013
21540017@unknown@formal@none@1@S@Qintex Australia suffered another setback Friday when its Los Angeles-based affiliate filed for Chapter 11 protection.@@@@1@16@@oe@2-2-2013
21540018@unknown@formal@none@1@S@Qintex's $1.5 billion pact to buy MGM/UA collapsed recently.@@@@1@9@@oe@2-2-2013
21540019@unknown@formal@none@1@S@Kodak entered the high-definition television market by unveiling a device that can convert conventional film into high-definition video.@@@@1@18@@oe@2-2-2013
21540020@unknown@formal@none@1@S@A handful of small U.S. firms are refusing to cede the HDTV-screen market to Japanese manufacturers.@@@@1@16@@oe@2-2-2013
21540021@unknown@formal@none@1@S@Freight rates are bottoming out and starting to rebound.@@@@1@9@@oe@2-2-2013
21540022@unknown@formal@none@1@S@Trucking, shipping and air-freight firms are all planning rate increases, reflecting higher costs and tightened demand.@@@@1@16@@oe@2-2-2013
21540023@unknown@formal@none@1@S@Texaco has purchased an oil-producing company in Texas for $476.5 million.@@@@1@11@@oe@2-2-2013
21540024@unknown@formal@none@1@S@It is Texaco's first major acquisition since the legal battle with Pennzoil began over four years ago.@@@@1@17@@oe@2-2-2013
21540025@unknown@formal@none@1@S@Winnebago posted a widened quarterly loss and slashed its dividend in half, reflecting the deepening slowdown in recreational vehicle sales.@@@@1@20@@oe@2-2-2013
21540026@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
21540027@unknown@formal@none@1@S@Stocks:@@@@1@1@@oe@2-2-2013
21540028@unknown@formal@none@1@S@Volume 164,830,000 shares.@@@@1@3@@oe@2-2-2013
21540029@unknown@formal@none@1@S@Dow Jones industrials 2689.14, up 5.94; transportation 1230.80, off 32.71; utilities 215.48, up 0.06.@@@@1@14@@oe@2-2-2013
21540030@unknown@formal@none@1@S@Bonds:@@@@1@1@@oe@2-2-2013
21540031@unknown@formal@none@1@S@Shearson Lehman Hutton Treasury index 3392.49, off@@@@1@7@@oe@2-2-2013
21540032@unknown@formal@none@1@S@Commodities:@@@@1@1@@oe@2-2-2013
21540033@unknown@formal@none@1@S@Dow Jones futures index 129.62, off 0.51; spot index 131.34, up 0.88.@@@@1@12@@oe@2-2-2013
21540034@unknown@formal@none@1@S@Dollar:@@@@1@1@@oe@2-2-2013
21540035@unknown@formal@none@1@S@142.43 yen, up 0.73; 1.8578 marks, up 0.0108.@@@@1@8@@oe@2-2-2013
21541001@unknown@formal@none@1@S@Inmac Corp., a money-losing direct marketer of computer supplies and accessories, said directors suspended payment of its semiannual dividend as too great a drain on funds.@@@@1@26@@oe@2-2-2013
21541002@unknown@formal@none@1@S@The company paid five cents a share in April.@@@@1@9@@oe@2-2-2013
21541003@unknown@formal@none@1@S@The directors' action, taken Oct. 10 but announced Friday, had little or no effect on the company's stock, which stagnated at $4.75 in light over-the-counter trading.@@@@1@26@@oe@2-2-2013
21541004@unknown@formal@none@1@S@Inmac recently disclosed a $12.3 million write-off related to a corporate restructuring that resulted in the company's posting a $6.4 million net loss for the year ended July 29, compared with year-earlier profit of $9.7 million, or $1.02 a share.@@@@1@40@@oe@2-2-2013
21541005@unknown@formal@none@1@S@Sales rose 12% to $249.5 million from $222.8 million.@@@@1@9@@oe@2-2-2013
21541006@unknown@formal@none@1@S@"The board felt that the continued payment of our semiannual dividend was inconsistent with recent operating results," said Kenneth A. Eldred, president and chief executive officer.@@@@1@26@@oe@2-2-2013
21541007@unknown@formal@none@1@S@"All our efforts are now focused on improving earnings to the point where we can fund additional new-country development, continue to invest in the business and reinstate the dividend," he added.@@@@1@31@@oe@2-2-2013
21541008@unknown@formal@none@1@S@The company offers more than 3,500 parts and supplies directly to microcomputer and minicomputer users through catalog sales.@@@@1@18@@oe@2-2-2013
21542001@unknown@formal@none@1@S@The Food and Drug Administration said American Home Products Corp. agreed to recall certain generic drugs that were produced by its Quantum Pharmics unit in Amityville, N.Y.@@@@1@27@@oe@2-2-2013
21542002@unknown@formal@none@1@S@Quantum stopped shipping the drugs last month, following a federal investigation regarding information the company supplied to obtain three drug approvals.@@@@1@21@@oe@2-2-2013
21542003@unknown@formal@none@1@S@The FDA requested the recall of Quantum's mioxidil tablets, chlorazepate dipotassium tablets and meclofenamate sodium capsules because, it said, the size of the production runs submitted for testing to gain FDA approval was in each case misrepresented as much larger than it actually was.@@@@1@44@@oe@2-2-2013
21542004@unknown@formal@none@1@S@American Home Products, based in New York, agreed to recall four other products, trazadone, doxepin, diazepam and lorazapam, because of concerns about data submitted in their original approval applications before the FDA.@@@@1@32@@oe@2-2-2013
21542005@unknown@formal@none@1@S@No safety problems with the products are known, the FDA said.@@@@1@11@@oe@2-2-2013
21542006@unknown@formal@none@1@S@An FDA spokesperson said the drugs are still available under other brand names.@@@@1@13@@oe@2-2-2013
21542007@unknown@formal@none@1@S@Last month, American Home Products said it was suspending production and distribution of all 21 of Quantum's generic drug products pending the completion of an exhaustive internal audit.@@@@1@28@@oe@2-2-2013
21542008@unknown@formal@none@1@S@It also temporarily closed Quantum, because of the internal investigation, as well as the FDA's ongoing inquiry.@@@@1@17@@oe@2-2-2013
21542009@unknown@formal@none@1@S@In New York Stock Exchange composite trading, American Home Products rose 75 cents to $105 on Friday.@@@@1@17@@oe@2-2-2013
21543001@unknown@formal@none@1@S@Lyondell Petrochemical Co. said third-quarter net income fell 54%, to $73 million, or 91 cents a share, from $160 million a year earlier.@@@@1@23@@oe@2-2-2013
21543002@unknown@formal@none@1@S@Year-earlier per-share results aren't applicable because the company went public in January.@@@@1@12@@oe@2-2-2013
21543003@unknown@formal@none@1@S@Revenue rose 7.7% to $1.28 billion from $1.18 billion.@@@@1@9@@oe@2-2-2013
21543004@unknown@formal@none@1@S@The petrochemical maker said the biggest reason earnings declined was a loss of production time and the increased costs associated with a temporary maintenance closing and expansion of an olefins plant.@@@@1@31@@oe@2-2-2013
21543005@unknown@formal@none@1@S@Like other refiners, Lyondell's margins for chemicals and gasoline were narrower.@@@@1@11@@oe@2-2-2013
21543006@unknown@formal@none@1@S@While the company said chemical margins continued to worsen this quarter, costs will be lower because the maintenance and expansions are complete.@@@@1@22@@oe@2-2-2013
21543007@unknown@formal@none@1@S@In New York Stock Exchange composite trading Friday, Lyondell was unchanged at $18.50 a share.@@@@1@15@@oe@2-2-2013
21544001@unknown@formal@none@1@S@Four former Cordis Corp. officials were acquitted of federal charges related to the Miami-based company's sale of pacemakers, including conspiracy to hide pacemaker defects.@@@@1@24@@oe@2-2-2013
21544002@unknown@formal@none@1@S@Jurors in U.S. District Court in Miami cleared Harold Hershhenson, a former executive vice president; John Pagones, a former vice president; and Stephen Vadas and Dean Ciporkin, who had been engineers with Cordis.@@@@1@33@@oe@2-2-2013
21544003@unknown@formal@none@1@S@Earlier this year, Cordis, a maker of medical devices, agreed to plead guilty to felony and misdemeanor charges related to the pacemakers and to pay the government about $5.7 million in fines and other costs.@@@@1@35@@oe@2-2-2013
21544004@unknown@formal@none@1@S@Cordis sold its pacemaker operations two years ago to Telectronics Holding Ltd. of Australia.@@@@1@14@@oe@2-2-2013
21545001@unknown@formal@none@1@S@PAPERS:@@@@1@1@@oe@2-2-2013
21545002@unknown@formal@none@1@S@Management and unions representing 2,400 employees at Torstar Corp.'s Toronto Star reached a tentative contract agreement Friday, averting a strike by most employees of Canada's largest daily newspaper.@@@@1@28@@oe@2-2-2013
21545003@unknown@formal@none@1@S@Members of the largest union, representing 1,700 workers, voted in favor of the pact yesterday.@@@@1@15@@oe@2-2-2013
21545004@unknown@formal@none@1@S@Four other unions have yet to vote, but their leadership also recommended approval.@@@@1@13@@oe@2-2-2013
21545005@unknown@formal@none@1@S@The pact proposes a 2 1/2-year contract with a raise of 8% in the first year, 7% in the second and 4% for the final six months.@@@@1@27@@oe@2-2-2013
21546001@unknown@formal@none@1@S@Amgen Inc. said its second-quarter earnings increased more than tenfold to $3.9 million, or 22 cents a share, due to increased sales of the company's new antianemia drug for kidney patients.@@@@1@31@@oe@2-2-2013
21546002@unknown@formal@none@1@S@The Thousand Oaks, Calif.-based biotechnology company reported a 97% increase in revenue to $42.5 million for the quarter ended Sept. 30.@@@@1@21@@oe@2-2-2013
21546003@unknown@formal@none@1@S@In the year-ago period, Amgen reported net income of $320,000, or two cents a share, on revenue of $21.5 million.@@@@1@20@@oe@2-2-2013
21546004@unknown@formal@none@1@S@For the six months, the company reported a more than sixfold increase in earnings to $4.7 million, or 26 cents a share, from $625,000, or four cents a share a year ago.@@@@1@32@@oe@2-2-2013
21546005@unknown@formal@none@1@S@Revenue rose 77% to $72.6 million, from last year's $41 million.@@@@1@11@@oe@2-2-2013
21547001@unknown@formal@none@1@S@LEBANESE LAWMAKERS APPROVED a peace plan but Aoun rejected it.@@@@1@10@@oe@2-2-2013
21547002@unknown@formal@none@1@S@Lebanon's Parliament passed the power-sharing accord to end the country's 14-year-old conflict, but the Christian military leader wad the plan was "full of ambiguities."@@@@1@24@@oe@2-2-2013
21547003@unknown@formal@none@1@S@The Arab League-sponsored pact, drafted during three weeks of talks at the Saudi Arabian resort of Taif, includes Syrian proposals for at least a partial troop pullout from Lebanon, and guarantees an equal number of seats for Moslems and Christians in the Parliament.@@@@1@43@@oe@2-2-2013
21547004@unknown@formal@none@1@S@The rejection by Aoun, who has demanded a total and immediate pull-out of Damascus's 33,000 troops, puts the future of the agreement in doubt.@@@@1@24@@oe@2-2-2013
21547005@unknown@formal@none@1@S@NORTHERN CALIFORNIA BRACED for earthquake-related traffic jams.@@@@1@7@@oe@2-2-2013
21547006@unknown@formal@none@1@S@As rescuers pressed their efforts after finding a survivor in a collapsed freeway, the San Francisco Bay area girded for hundreds of thousands of commuters seeking to avoid routes ravaged by last Tuesday's tremor.@@@@1@34@@oe@2-2-2013
21547007@unknown@formal@none@1@S@In Oakland, officials said the 57-year-old longshoreman who spent four days entombed in rubble was in critical condition with slight improvement.@@@@1@21@@oe@2-2-2013
21547008@unknown@formal@none@1@S@Estimates of damage in the area, visited Friday by Bush, topped $5 billion.@@@@1@13@@oe@2-2-2013
21547009@unknown@formal@none@1@S@The baseball commissioner announced that the third game of the World Series between the Giants and the Athletics wouldn't resume until Friday.@@@@1@22@@oe@2-2-2013
21547010@unknown@formal@none@1@S@THE U.S. IS REQUIRED to notify foreign dictators of certain coup plans.@@@@1@12@@oe@2-2-2013
21547011@unknown@formal@none@1@S@Under guidelines included in an exchange of letters between the Reagan administration and the Senate Intelligence panel last year, the U.S. must inform foreign dictators of plans likely to endanger their lives.@@@@1@32@@oe@2-2-2013
21547012@unknown@formal@none@1@S@The existence of the policy became known after Bush disclosed it to seven GOP senators last week, citing the plan as an example of congressional requirements the administration contends contribute to the failure of covert actions, officials said.@@@@1@38@@oe@2-2-2013
21547013@unknown@formal@none@1@S@Bush conceded that the requirement didn't affect a decision to lend only minor support to this month's failed effort to oust Panama's Noriega, aides said.@@@@1@25@@oe@2-2-2013
21547014@unknown@formal@none@1@S@The shuttle Atlantis's crew prepared to return to Earth today several hours earlier than planned to avoid high winds forecast at the landing site at Edwards Air Force Base, Calif.@@@@1@30@@oe@2-2-2013
21547015@unknown@formal@none@1@S@The five astronauts, who stowed gear and tested the spacecraft's steering, said they were unconcerned about the touchy weather expected in the Mojave Desert.@@@@1@24@@oe@2-2-2013
21547016@unknown@formal@none@1@S@Commonwealth leaders issued a declaration giving South Africa six months to deliver on pledges to ease apartheid or face new reprisals.@@@@1@21@@oe@2-2-2013
21547017@unknown@formal@none@1@S@The 49-nation organization, meeting in Malaysia, called for tighter financial pressure immediately.@@@@1@12@@oe@2-2-2013
21547018@unknown@formal@none@1@S@Britain's Prime Minister Thatcher alone dissented.@@@@1@6@@oe@2-2-2013
21547019@unknown@formal@none@1@S@East Germany's leadership vowed swift action to ease travel to the West.@@@@1@12@@oe@2-2-2013
21547020@unknown@formal@none@1@S@Despite the pledge by the Communist rulers, tens of thousands of people across the country staged marches over the weekend to demand democratic freedoms.@@@@1@24@@oe@2-2-2013
21547021@unknown@formal@none@1@S@In Leipzig, more than 500 people met with local party officials to discuss internal changes.@@@@1@15@@oe@2-2-2013
21547022@unknown@formal@none@1@S@The Senate convicted federal Judge Alcee Hastings of Miami of eight impeachment articles, removing him from the bench.@@@@1@18@@oe@2-2-2013
21547023@unknown@formal@none@1@S@The chamber voted 69-26 Friday to convict the judge of perjury and bribery conspiracy.@@@@1@14@@oe@2-2-2013
21547024@unknown@formal@none@1@S@It marked the first time a U.S. official was impeached on charges of which a jury had acquitted him.@@@@1@19@@oe@2-2-2013
21547025@unknown@formal@none@1@S@Rep. Garcia and his wife were found guilty by a federal jury in New York of extorting $76,000 from Wedtech Corp. in return for official acts by the New York Democrat.@@@@1@31@@oe@2-2-2013
21547026@unknown@formal@none@1@S@The jury also convicted them of extortion in obtaining a $20,000 interest-free loan from an officer of the defunct defense contractor.@@@@1@21@@oe@2-2-2013
21547027@unknown@formal@none@1@S@Authorities in Honduras launched an investigation into the cause of Saturday's crash of a Honduran jetliner that killed 132 of the 146 people aboard.@@@@1@24@@oe@2-2-2013
21547028@unknown@formal@none@1@S@The Boeing 727, en route to Honduras from Costa Rica via Nicaragua, smashed into the hills outside Tegucigalpa as it approached the capital's airport in high winds and low clouds.@@@@1@30@@oe@2-2-2013
21547029@unknown@formal@none@1@S@The U.S. and Israel have been holding what an aide to Prime Minister Shamir called intense telephone negotiations in an effort to bridge differences over Mideast peace moves.@@@@1@28@@oe@2-2-2013
21547030@unknown@formal@none@1@S@The Labor Party, meanwhile, threatened to support a parliamentary motion to topple the coalition unless Shamir showed flexibility on Arab-Israeli talks.@@@@1@21@@oe@2-2-2013
21547031@unknown@formal@none@1@S@Nicaragua's Defense Ministry said a group of Contra rebels ambushed two trucks carrying troops in northern Nicaragua, killing 18 of the soldiers.@@@@1@22@@oe@2-2-2013
21547032@unknown@formal@none@1@S@The incident occurred Saturday night.@@@@1@5@@oe@2-2-2013
21547033@unknown@formal@none@1@S@The Sandinista government and the U.S.-backed insurgents agreed in March to suspend offensive operations, but there has been sporadic fighting.@@@@1@20@@oe@2-2-2013
21547034@unknown@formal@none@1@S@Scientists have isolated a molecule that may hold potential as a treatment for disruptions of the immune system, ranging from organ-transplant rejection, to allergies and asthma, Immunex Corp. said.@@@@1@29@@oe@2-2-2013
21547035@unknown@formal@none@1@S@The molecule is the mouse version of a protein called the interleukin-4 receptor, which directs the growth and function of white blood cells.@@@@1@23@@oe@2-2-2013
21547036@unknown@formal@none@1@S@Died: Alfred Hayes, 79, former president of the Federal Reserve Bank of New York, Saturday, in New Canaan, Conn.@@@@1@19@@oe@2-2-2013
21548001@unknown@formal@none@1@S@Contel Corp. said third-quarter net income increased 16% to $72 million, or 45 cents a share, from $62 million, or 39 cents a share, as a result of strong growth in telephone-access lines and long-distance minutes of use.@@@@1@38@@oe@2-2-2013
21548002@unknown@formal@none@1@S@The telecommunications company's results included a one-time gain of $4 million, or two cents a share, from the sale of Contel Credit, a leasing and financial-services subsidiary.@@@@1@27@@oe@2-2-2013
21548003@unknown@formal@none@1@S@Revenue rose 8.3% to $780 million from $720 million.@@@@1@9@@oe@2-2-2013
21548004@unknown@formal@none@1@S@Telephone-operations quarterly profit increased 9% to $84 million from $77 million, while federal-systems earnings declined 33% to $4 million from $6 million.@@@@1@22@@oe@2-2-2013
21548005@unknown@formal@none@1@S@Information systems posted a loss of $8 million, compared with a loss of $9 million a year earlier.@@@@1@18@@oe@2-2-2013
21548006@unknown@formal@none@1@S@Customer-access lines increased at an annualized rate of about 4% and minutes of long-distance use rose about 12%.@@@@1@18@@oe@2-2-2013
21548007@unknown@formal@none@1@S@A 10% gain in operating profit in the quarter was offset by a 21% boost in interest expense, reflecting higher consolidated borrowings and interest rates.@@@@1@25@@oe@2-2-2013
21548008@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Contel closed at $33.75 a share, down .50 cents.@@@@1@16@@oe@2-2-2013
21549001@unknown@formal@none@1@S@In East Germany, where humor has long been the only way to express political criticism, they're not laughing about their new leader Egon Krenz.@@@@1@24@@oe@2-2-2013
21549002@unknown@formal@none@1@S@Mr. Krenz is such a contradictory figure that nobody has even come up with any good jokes about him.@@@@1@19@@oe@2-2-2013
21549003@unknown@formal@none@1@S@"You have to have clear feelings about someone before you can make jokes," says an East German mother of two who loves swapping political barbs with her friends.@@@@1@28@@oe@2-2-2013
21549004@unknown@formal@none@1@S@"With Krenz, we just don't know what to expect."@@@@1@9@@oe@2-2-2013
21549005@unknown@formal@none@1@S@Mr. Krenz doesn't seem to be the knee-jerk hardliner many initially thought he was when the 52-year-old Politburo member was selected last week to succeed Erich Honecker.@@@@1@27@@oe@2-2-2013
21549006@unknown@formal@none@1@S@But he doesn't appear to be ready to make broad changes either.@@@@1@12@@oe@2-2-2013
21549007@unknown@formal@none@1@S@According to East Germany's ADN news agency, Mr. Krenz spoke to Soviet leader Mikhail Gorbachev by telephone over the weekend and acknowledged East Germany could learn from Moscow's glasnost policies.@@@@1@30@@oe@2-2-2013
21549008@unknown@formal@none@1@S@Already last week, Mr. Krenz started overhauling East Germany's heavily censored and notoriously boring news media.@@@@1@16@@oe@2-2-2013
21549009@unknown@formal@none@1@S@On Thursday, a day after he took office, East German television broke into regular programming to launch a talk show in which viewers call in questions for a panel of officials to answer.@@@@1@33@@oe@2-2-2013
21549010@unknown@formal@none@1@S@The regular nightly news program and daily newspapers are also getting a visible injection of Soviet-style glasnost.@@@@1@17@@oe@2-2-2013
21549011@unknown@formal@none@1@S@"It was quite a shock," says a 43-year-old East German shopkeeper.@@@@1@11@@oe@2-2-2013
21549012@unknown@formal@none@1@S@"For the first time in my life, I wasn't sure whether I was listening to our news or West German television."@@@@1@21@@oe@2-2-2013
21549013@unknown@formal@none@1@S@Other changes, including easing restrictions on travel for East Germans, are expected.@@@@1@12@@oe@2-2-2013
21549014@unknown@formal@none@1@S@But whether such moves can win back the confidence of East Germans, who have taken to the streets by the thousands in recent weeks to demand democratic changes, depends largely on whether they feel they can trust Mr. Krenz.@@@@1@39@@oe@2-2-2013
21549015@unknown@formal@none@1@S@And that's a problem.@@@@1@4@@oe@2-2-2013
21549016@unknown@formal@none@1@S@Mr. Krenz is not only closely identified with his mentor, Mr. Honecker, but also blamed for ordering violent police action against protesters this month and for praising China for sending tanks against student demonstrators.@@@@1@34@@oe@2-2-2013
21549017@unknown@formal@none@1@S@"I hope he grows with the job," says Rainer Eppelmann, a Protestant pastor in East Berlin.@@@@1@16@@oe@2-2-2013
21549018@unknown@formal@none@1@S@"The most important thing is that he have a chance."@@@@1@10@@oe@2-2-2013
21549019@unknown@formal@none@1@S@Although Mr. Krenz is dedicated to East Germany's conservative vein of communism, there is much about his style that sets him apart from his party comrades.@@@@1@26@@oe@2-2-2013
21549020@unknown@formal@none@1@S@Unlike Mr. Honecker, who tended to lecture people about socialist values, Mr. Krenz enjoys asking questions.@@@@1@16@@oe@2-2-2013
21549021@unknown@formal@none@1@S@Indeed, one of his first actions as leader was to visit a gritty machine factory on the outskirts of Berlin and wander among the workers -- a la Gorbachev.@@@@1@29@@oe@2-2-2013
21549022@unknown@formal@none@1@S@He was later shown on television, fielding questions.@@@@1@8@@oe@2-2-2013
21549023@unknown@formal@none@1@S@At one point, he asked a worker whether he thought East Germans were fleeing the country because of restrictive travel policies.@@@@1@21@@oe@2-2-2013
21549024@unknown@formal@none@1@S@The worker's tart reply: "It's more than just travel.@@@@1@9@@oe@2-2-2013
21549025@unknown@formal@none@1@S@People have a sense the government is ignoring the real problems in our society."@@@@1@14@@oe@2-2-2013
21549026@unknown@formal@none@1@S@The exchange was all the more remarkable in that authorities released television footage to Western news agencies.@@@@1@17@@oe@2-2-2013
21549027@unknown@formal@none@1@S@This same tendency toward openness impressed a group of visiting U.S. congressmen this spring.@@@@1@14@@oe@2-2-2013
21549028@unknown@formal@none@1@S@Rather than trying to "lecture us," says one congressional aide who attended the two-hour meeting, Mr. Krenz "wanted to listen."@@@@1@20@@oe@2-2-2013
21549029@unknown@formal@none@1@S@Rep. Ronnie Flippo (D., Ala.), one of the members of the delegation, says he was particularly impressed by Mr. Krenz's ready admission that East Germany needed to change.@@@@1@28@@oe@2-2-2013
21549030@unknown@formal@none@1@S@"He's a very tough man, but one who's also open to arguments," adds an aide to West German Chancellor Helmut Kohl.@@@@1@21@@oe@2-2-2013
21549031@unknown@formal@none@1@S@But there's another side to Mr. Krenz.@@@@1@7@@oe@2-2-2013
21549032@unknown@formal@none@1@S@Born in a Baltic town in an area which is now part of Poland, he has dedicated his life to the party apparatus.@@@@1@23@@oe@2-2-2013
21549033@unknown@formal@none@1@S@He moved quickly through the ranks with the help of his patron, Mr. Honecker, and emerged as the heir apparent.@@@@1@20@@oe@2-2-2013
21549034@unknown@formal@none@1@S@Barbara Donovan, an expert on East Germany at Radio Free Europe in Munich, says Mr. Krenz may project a smooth image, but she doubts he's a true reformer.@@@@1@28@@oe@2-2-2013
21549035@unknown@formal@none@1@S@Even if he is, she adds, he appears to have only limited room for maneuver within the Communist Party's ruling Politburo.@@@@1@21@@oe@2-2-2013
21549036@unknown@formal@none@1@S@Against this background, the new East German leader must move quickly to shore up his government's standing.@@@@1@17@@oe@2-2-2013
21549037@unknown@formal@none@1@S@The sudden growth of the opposition movement, together with the steady outflow of citizens escaping through Poland and Hungary, has plunged the country into its deepest political crisis since an anti-Soviet workers' uprising in 1953.@@@@1@35@@oe@2-2-2013
21549038@unknown@formal@none@1@S@"He doesn't have any honeymoon period," says a Western diplomat based in East Berlin.@@@@1@14@@oe@2-2-2013
21549039@unknown@formal@none@1@S@"But if he's sharp and quick, he has a chance."@@@@1@10@@oe@2-2-2013
21549040@unknown@formal@none@1@S@The diplomat adds that Mr. Krenz has several things going for him.@@@@1@12@@oe@2-2-2013
21549041@unknown@formal@none@1@S@The East German economy is strong compared with other East bloc nations.@@@@1@12@@oe@2-2-2013
21549042@unknown@formal@none@1@S@And his relative youth could help him project a more vibrant image, contrasting with the perception of Mr. Honecker as an out-of-touch old man.@@@@1@24@@oe@2-2-2013
21549043@unknown@formal@none@1@S@For average East Germans, Mr. Krenz remains a puzzle.@@@@1@9@@oe@2-2-2013
21549044@unknown@formal@none@1@S@"Either he wasn't being real in the past, or he isn't being real right now," says a 30-year-old East German doctor.@@@@1@21@@oe@2-2-2013
21549045@unknown@formal@none@1@S@"Either way, I have a problem with how quickly he's changed."@@@@1@11@@oe@2-2-2013
21549046@unknown@formal@none@1@S@The doctor was among dozens of people milling through East Berlin's Gethsemane Church Saturday morning.@@@@1@15@@oe@2-2-2013
21549047@unknown@formal@none@1@S@The walls of the church are covered with leaflets, news clippings, and handwritten notes associated with the country's political opposition.@@@@1@20@@oe@2-2-2013
21549048@unknown@formal@none@1@S@"I have to come here to read the walls," says the doctor, "because it's information I still can't get through the newspapers."@@@@1@22@@oe@2-2-2013
21549049@unknown@formal@none@1@S@Meanwhile, East Germany's growing openness may even allow the state-controlled news media to display a muted sense of humor.@@@@1@19@@oe@2-2-2013
21549050@unknown@formal@none@1@S@Television last week carried a new report on East Berlin's main wallpaper factory and the need to boost production.@@@@1@19@@oe@2-2-2013
21549051@unknown@formal@none@1@S@East Germans remember a comment a few years ago by Kurt Hager, the government's top ideologist, that just because a neighbor hangs new wallpaper, there's no reason to change your own.@@@@1@31@@oe@2-2-2013
21549052@unknown@formal@none@1@S@His point was there is no reason for East Germany to copy Soviet-style changes.@@@@1@14@@oe@2-2-2013
21549053@unknown@formal@none@1@S@"It's hard to know whether it was intended to be funny," says the East Berlin shopkeeper, "But everyone I know laughed about it.@@@@1@23@@oe@2-2-2013
21550001@unknown@formal@none@1@S@The list of laboratories claiming to be producing inexplicable amounts of heat from "cold fusion" experiments is slowly growing.@@@@1@19@@oe@2-2-2013
21550002@unknown@formal@none@1@S@But the experiments continue to be plagued by lack of firm evidence that the extra heat is coming from the fusing of hydrogen atoms.@@@@1@24@@oe@2-2-2013
21550003@unknown@formal@none@1@S@New experiments at some of the big national laboratories are still unable to find hints of nuclear fusion reactions, leaving only the finding of tritium in a Texas experiment to support University of Utah chemists' claim of achieving hydrogen fusion at room temperatures.@@@@1@43@@oe@2-2-2013
21550004@unknown@formal@none@1@S@The latest developments in cold fusion research were presented in 24 reports delivered at the fall meeting here of the Electrochemical Society, the first scientific meeting in five months to hear formal reports on cold fusion experiments.@@@@1@37@@oe@2-2-2013
21550005@unknown@formal@none@1@S@The meeting offered stark evidence of a dramatic fall in scientific interest in cold fusion research.@@@@1@16@@oe@2-2-2013
21550006@unknown@formal@none@1@S@Of the 1,300 chemists registered for the society's weeklong meeting, fewer than 200 sat through the day and a half of cold fusion presentations at week's end.@@@@1@27@@oe@2-2-2013
21550007@unknown@formal@none@1@S@This was in contrast with the society's meeting last May, at the height of the controversy, when more than 1,500 scientists, along with scores of reporters and TV crews, crowded into a Los Angeles hotel ballroom for a tumultuous special night session on the subject.@@@@1@45@@oe@2-2-2013
21550008@unknown@formal@none@1@S@Neither of the two chemists whose Utah experiments triggered the cold fusion uproar, Martin Fleischmann and B. Stanley Pons, were at the meeting.@@@@1@23@@oe@2-2-2013
21550009@unknown@formal@none@1@S@But some members of an ad hoc expert committee set up by the Department of Energy to evaluate the cold fusion research were in the audience.@@@@1@26@@oe@2-2-2013
21550010@unknown@formal@none@1@S@The committee is to recommend at the end of the month whether DOE should support cold fusion research.@@@@1@18@@oe@2-2-2013
21550011@unknown@formal@none@1@S@Most of the two dozen scientists taking the podium reported results with new, more sophisticated variations of the seemingly simple electrolysis-of-water experiments described last March by Messrs. Fleischmann and Pons.@@@@1@30@@oe@2-2-2013
21550012@unknown@formal@none@1@S@The experiments involve encircling a thin rod of palladium metal with a wire of platinum and plunging the two electrodes into "heavy" water in which the hydrogen atoms are a doubly heavy form known as deuterium.@@@@1@36@@oe@2-2-2013
21550013@unknown@formal@none@1@S@When an electric current is applied to the palladium and platinum electrodes, the heavy water did begin to break up, or dissociate.@@@@1@22@@oe@2-2-2013
21550014@unknown@formal@none@1@S@Ordinarily the electrolysis, or breakup, of the water would consume almost all of the electrical energy.@@@@1@16@@oe@2-2-2013
21550015@unknown@formal@none@1@S@But Messrs. Fleischmann and Pons said their experiments also produced large amounts of heat.@@@@1@14@@oe@2-2-2013
21550016@unknown@formal@none@1@S@The heat energy plus the energy consumed by the breakup of the water molecules added to far more energy coming out of the apparatus than electrical energy going in, they reported.@@@@1@31@@oe@2-2-2013
21550017@unknown@formal@none@1@S@Because they also detected tritium and indications of nuclear radiation, they asserted that the "excess" heat energy must be coming from energy released by the nuclear fusion of deuterium atoms inside the palladium rod.@@@@1@34@@oe@2-2-2013
21550018@unknown@formal@none@1@S@As of last weekend, a dozen labs also have reported measuring "excess" heat from similar electrolytic experiments, although amounts of such heat vary widely.@@@@1@24@@oe@2-2-2013
21550019@unknown@formal@none@1@S@One of the seven reports presented here of excess heat production was given by Richard A. Oriani, professor of chemical engineering at the University of Minnesota.@@@@1@26@@oe@2-2-2013
21550020@unknown@formal@none@1@S@Mr. Oriani said his skepticism of the Utah claims was initially confirmed when his first experiments last spring failed to produce results.@@@@1@22@@oe@2-2-2013
21550021@unknown@formal@none@1@S@But he then borrowed a palladium rod from chemists at Texas A&M who said they were getting excess heat.@@@@1@19@@oe@2-2-2013
21550022@unknown@formal@none@1@S@"The results were fascinating," he said.@@@@1@6@@oe@2-2-2013
21550023@unknown@formal@none@1@S@On the fourth "run" with the borrowed rod, the experiment began producing excess heat.@@@@1@14@@oe@2-2-2013
21550024@unknown@formal@none@1@S@The experiment was stopped briefly to change an instrument.@@@@1@9@@oe@2-2-2013
21550025@unknown@formal@none@1@S@When it was restarted, heat output "really took off" and produced excess heat for several hours before dying down, he said.@@@@1@21@@oe@2-2-2013
21550026@unknown@formal@none@1@S@Typical of other experiments, Mr. Oriani said his experiment was "very erratic."@@@@1@12@@oe@2-2-2013
21550027@unknown@formal@none@1@S@It would go along doing nothing but dissociating the heavy water and then at totally unpredictable times, it would begin producing excess heat for as long as 10 or 11 hours before quieting down.@@@@1@34@@oe@2-2-2013
21550028@unknown@formal@none@1@S@The excess heat was 15% to 20% more than the energy involved in the electrolysis of water.@@@@1@17@@oe@2-2-2013
21550029@unknown@formal@none@1@S@Mr. Oriani said the heat bursts were too large and too long to be explained by the sudden release of energy that might have slowly accumulated during the experiments' quiescent times, as some scientists have suggested.@@@@1@36@@oe@2-2-2013
21550030@unknown@formal@none@1@S@"There is a reality to the excess energy," he said.@@@@1@10@@oe@2-2-2013
21550031@unknown@formal@none@1@S@Other scientists said they also were getting sporadic bursts of excess heat lasting several hours at a time.@@@@1@18@@oe@2-2-2013
21550032@unknown@formal@none@1@S@The bursts often occur, they said, after they "perturbed" the experiments by raising or lowering the amount of electric current being applied, or switching the current off and on.@@@@1@29@@oe@2-2-2013
21550033@unknown@formal@none@1@S@One chemist privately suggested this hinted that some "anomalous" chemical reactions might be producing the heat.@@@@1@16@@oe@2-2-2013
21550034@unknown@formal@none@1@S@One reason questions surround the heat experiments is that they involve unusually meticulous measurements.@@@@1@14@@oe@2-2-2013
21550035@unknown@formal@none@1@S@Typically, the input energy ranges from a third of a watt to one watt and the excess energy is measured in tenths of a watt.@@@@1@25@@oe@2-2-2013
21550036@unknown@formal@none@1@S@One exception is a continuing experiment at Stanford University where as much as 10 watts of energy are being put into the electrolytic cells.@@@@1@24@@oe@2-2-2013
21550037@unknown@formal@none@1@S@A cell filled with heavy water is producing 1.0 to 1.5 watts more heat than an identical electrolytic cell filled with ordinary water next to it, reported Turgut M. Gur, an associate of materials scientist Robert A. Huggins, head of the Stanford experimental team.@@@@1@44@@oe@2-2-2013
21550038@unknown@formal@none@1@S@One of the few hints the excess heat might be produced by fusion came from brief remarks by chemist John Bockris of Texas A&M University.@@@@1@25@@oe@2-2-2013
21550039@unknown@formal@none@1@S@Mr. Bockris previously reported getting bursts of excess heat and of detecting increasing amounts of tritium forming in the heavy water.@@@@1@21@@oe@2-2-2013
21550040@unknown@formal@none@1@S@He said that within the past few days, he's gotten evidence that there is a "weak correlation" between the time the heat bursts occur and the production of tritium.@@@@1@29@@oe@2-2-2013
21550041@unknown@formal@none@1@S@There isn't any way to continuously measure the amount of tritium in the heavy water, so it's been difficult to tell whether the tritium formation is related to the heat bursts or some other phenomenon.@@@@1@35@@oe@2-2-2013
21550042@unknown@formal@none@1@S@Increasingly careful attempts to measure neutrons, which would be strong evidence of fusion reactions, continue to be negative.@@@@1@18@@oe@2-2-2013
21550043@unknown@formal@none@1@S@Messrs. Fleischmann and Pons initially reported indirect evidence of neutrons being produced in their experiment but later conceded the measurements were questionable.@@@@1@22@@oe@2-2-2013
21550044@unknown@formal@none@1@S@Researchers at Sandia National Laboratories in Albuquerque, N.M., reported they went so far as to take a "cold fusion" experiment and three neutron detectors into a tunnel under 300 feet of granite to shield the detectors from cosmic rays.@@@@1@39@@oe@2-2-2013
21550045@unknown@formal@none@1@S@A number of times they detected neutrons in one, sometimes two, of the three detectors, but only once during 411 hours of the experiment did they detect a neutron burst in all three detectors -- and they think that was a spurious event.@@@@1@43@@oe@2-2-2013
21550046@unknown@formal@none@1@S@Shimson Gottesfeld of Los Alamos National Laboratory said researchers there detected a burst of neutrons from an early cold fusion experiment last April but decided not to announce it until they could confirm it.@@@@1@34@@oe@2-2-2013
21550047@unknown@formal@none@1@S@In subsequent experiments, one of two neutron detectors occasionally indicated a burst of neutrons but neutron bursts were never recorded in both detectors at the same time.@@@@1@27@@oe@2-2-2013
21550048@unknown@formal@none@1@S@They concluded the indications of neutrons stemmed from faults in the detectors rather than from the cold fusion experiment.@@@@1@19@@oe@2-2-2013
21550049@unknown@formal@none@1@S@At the Lawrence Berkeley Laboratory in California, new experiments indicated that the lithium added to the heavy water so it will conduct a current can produce previously unsuspected electrical effects on the surface of the palladium rod -- which Messrs. Fleischmann and Pons might have misinterpreted, reported Philip Ross from the California laboratory.@@@@1@53@@oe@2-2-2013
21551001@unknown@formal@none@1@S@Dow Jones & Co. announced Wall Street Journal advertising rates for 1990.@@@@1@12@@oe@2-2-2013
21551002@unknown@formal@none@1@S@The rates, which take effect Jan. 2, include a 4% increase for national edition advertising.@@@@1@15@@oe@2-2-2013
21551003@unknown@formal@none@1@S@The Journal also will offer expanded volume and frequency discounts.@@@@1@10@@oe@2-2-2013
21551004@unknown@formal@none@1@S@The increase for national edition advertising is less than the inflation rate and compares with a 6.5% increase in 1989.@@@@1@20@@oe@2-2-2013
21551005@unknown@formal@none@1@S@"Newsprint and postage prices this year have not gone up," said Peter R. Kann, president of Dow Jones.@@@@1@18@@oe@2-2-2013
21551006@unknown@formal@none@1@S@"We have invested in improved editorial quality and expanded our quality audience without substantially increasing our costs.@@@@1@17@@oe@2-2-2013
21551007@unknown@formal@none@1@S@Fundamental fairness and a sense of responsibility lead us to share operating efficiencies with our customers."@@@@1@16@@oe@2-2-2013
21551008@unknown@formal@none@1@S@Advertising rates for the Eastern, Midwest, Western and Southwest editions will increase an average 5.5%, and rates for localized advertising editions will increase 7.5%.@@@@1@24@@oe@2-2-2013
21551009@unknown@formal@none@1@S@Rates for the Wall Street Journal Reports will remain unchanged.@@@@1@10@@oe@2-2-2013
21551010@unknown@formal@none@1@S@A one-time noncontract full-page advertisement in The Wall Street Journal national edition will cost $99,385.@@@@1@15@@oe@2-2-2013
21551011@unknown@formal@none@1@S@Advertising rates for The Wall Street Journal/Europe, published in Brussels and printed in the Netherlands and Switzerland, will increase 9%.@@@@1@20@@oe@2-2-2013
21551012@unknown@formal@none@1@S@Rates for The Asian Wall Street Journal, published and printed in Hong Kong and also printed in Singapore and Tokyo, will rise 8%.@@@@1@23@@oe@2-2-2013
21551013@unknown@formal@none@1@S@Rates for The Asian Wall Street Journal Weekly, published in New York for North American readers, will rise 6%.@@@@1@19@@oe@2-2-2013
21551014@unknown@formal@none@1@S@Dow Jones also publishes Barron's magazine, other periodicals and community newspapers and operates electronic business information services.@@@@1@17@@oe@2-2-2013
21551015@unknown@formal@none@1@S@It owns 67% of Telerate Inc., a leading supplier of computerized financial information on global markets.@@@@1@16@@oe@2-2-2013
21552001@unknown@formal@none@1@S@Reflecting the impact of lower semiconductor prices and cuts in defense spending, Texas Instruments Inc. said third-quarter net income fell 31% and sales dropped slightly from a year earlier.@@@@1@29@@oe@2-2-2013
21552002@unknown@formal@none@1@S@Net fell to $65 million, or 67 cents a common share, from $93.7 million or $1.03 a share, a year ago.@@@@1@21@@oe@2-2-2013
21552003@unknown@formal@none@1@S@Sales fell 2.5% to $1.54 billion from $1.58 billion.@@@@1@9@@oe@2-2-2013
21552004@unknown@formal@none@1@S@For the nine months, the electronics and defense concern had net of $255.8 million, or $2.70 a share, down 5.6% from $271 million, or $3.01 a share, in the year-ago period.@@@@1@31@@oe@2-2-2013
21552005@unknown@formal@none@1@S@Sales were $4.66 billion, up 1.3% from $4.6 billion.@@@@1@9@@oe@2-2-2013
21552006@unknown@formal@none@1@S@Jerry Junkins, chairman, president and chief executive officer, said sluggish consumer-electronics sales reduced demand for semiconductors.@@@@1@16@@oe@2-2-2013
21552007@unknown@formal@none@1@S@That, coupled with lower semiconductor prices and higher semiconductor-depreciation expense, contributed to the decline in sales and profit.@@@@1@18@@oe@2-2-2013
21552008@unknown@formal@none@1@S@In addition, cost increases related to fixed-price defense contracts and a $10 million charge to reduce the work force of Texas Instruments' defense-electronics division also reduced net.@@@@1@27@@oe@2-2-2013
21552009@unknown@formal@none@1@S@However, the quarter results included $28 million in royalty income from patent licenses, up from $21 million in the year-earlier period.@@@@1@21@@oe@2-2-2013
21552010@unknown@formal@none@1@S@The nine months include $125 million of royalty income, up from $98 million last year.@@@@1@15@@oe@2-2-2013
21552011@unknown@formal@none@1@S@Mr. Junkins wasn't optimistic about the short-term outlook, hinting that further workforce reductions may be needed.@@@@1@16@@oe@2-2-2013
21552012@unknown@formal@none@1@S@"We expect near-term sluggishness in the electronics market," he said, "and we will take ongoing cost-reduction actions as necessary to keep operations aligned with demand."@@@@1@25@@oe@2-2-2013
21552013@unknown@formal@none@1@S@Further, he said, an internal reorganization to combine several divisions into the Information Technology Group is expected to affect fourth-quarter results by an undisclosed amount.@@@@1@25@@oe@2-2-2013
21553001@unknown@formal@none@1@S@Lynch Corp. said its Lynch Telephone Corp. subsidiary completed the acquisition of Western New Mexico Telephone Co. for $20 million plus assumption of $24 million of debt.@@@@1@27@@oe@2-2-2013
21553002@unknown@formal@none@1@S@Western New Mexico Telephone, Silver City, had net income of $1.9 million on revenue of about $10 million last year.@@@@1@20@@oe@2-2-2013
21553003@unknown@formal@none@1@S@It is an independent phone company with a service area of 15,000 square miles in southwest New Mexico.@@@@1@18@@oe@2-2-2013
21553004@unknown@formal@none@1@S@It is also a partner in the wireline cellular franchise covering most of western New Mexico.@@@@1@16@@oe@2-2-2013
21553005@unknown@formal@none@1@S@The transaction represents Lynch's entry into the telephone business.@@@@1@9@@oe@2-2-2013
21553006@unknown@formal@none@1@S@The company, which has interests in television, trucking services, and glass-making and food-processing equipment, said it plans to make other acquisitions in the telephone industry.@@@@1@25@@oe@2-2-2013
21554001@unknown@formal@none@1@S@Nelson Bunker Hunt's attempted corner on silver a decade ago is still haunting the market in this metal.@@@@1@18@@oe@2-2-2013
21554002@unknown@formal@none@1@S@Silver, now trading around $5 an ounce, surged to an all-time peak of $50 an ounce in January 1980 from around $9 in mid-1979.@@@@1@24@@oe@2-2-2013
21554003@unknown@formal@none@1@S@"Mr. Hunt's attempt to squeeze the silver market 10 years ago is still indirectly to blame for today's market depression," says Lesley Edgar, managing director of Sharps Pixley Ltd., London bullion brokers.@@@@1@32@@oe@2-2-2013
21554004@unknown@formal@none@1@S@While some 100 million ounces of silver once held by Mr. Hunt and Middle Eastern associates aren't hanging over the market anymore, the price surge of 1979-80 precipitated an expansion of mine production and scrap recovery and encouraged silver consumers to economize on silver use, Mr. Edgar says.@@@@1@48@@oe@2-2-2013
21554005@unknown@formal@none@1@S@Photographic developers, for example, bought equipment to recover silver from spent photographs, negatives and processing solutions.@@@@1@16@@oe@2-2-2013
21554006@unknown@formal@none@1@S@Meanwhile, the photographic industry, which accounts for 44% of silver consumption, continues to look for substitutes.@@@@1@16@@oe@2-2-2013
21554007@unknown@formal@none@1@S@Japanese and U.S. photographic firms are beginning to produce electronic cameras and X-rays that don't require silver, dealers say.@@@@1@19@@oe@2-2-2013
21554008@unknown@formal@none@1@S@Silver's history of volatility is also discouraging investors, dealers say.@@@@1@10@@oe@2-2-2013
21554009@unknown@formal@none@1@S@Even in the present uncertain investment climate, investors are preferring "quality assets" such as Treasury bills and bonds to gold, silver and platinum, dealers say.@@@@1@25@@oe@2-2-2013
21554010@unknown@formal@none@1@S@Although prices rallied briefly following the tumble on world stock markets earlier this month and the related decline of the dollar, precious metals are out of favor for the moment because of high interest rates and a determination by industrial nations to curb inflation, dealers say.@@@@1@46@@oe@2-2-2013
21554011@unknown@formal@none@1@S@Silver, however is in a deeper slump than are gold and platinum.@@@@1@12@@oe@2-2-2013
21554012@unknown@formal@none@1@S@Some analysts contend that silver is cheap now that prices are languishing at levels last seen in the mid-1970s.@@@@1@19@@oe@2-2-2013
21554013@unknown@formal@none@1@S@"Bargain hunters believe that silver offers the best value amongst precious metals," says Frederick R. Demler, analyst at Drexel Burnham Lambert Inc.@@@@1@22@@oe@2-2-2013
21554014@unknown@formal@none@1@S@A further decline in prices will lead to mine production cuts in the U.S., he says.@@@@1@16@@oe@2-2-2013
21554015@unknown@formal@none@1@S@Scrap merchants are converting smaller quantities of metal into silver, while low prices are discouraging exports from India and the Soviet Union.@@@@1@22@@oe@2-2-2013
21554016@unknown@formal@none@1@S@Silver prices could also be boosted by strikes in leading producing nations Peru and Mexico, Mr. Demler says.@@@@1@18@@oe@2-2-2013
21554017@unknown@formal@none@1@S@Meanwhile, total fabrication demand for silver has risen six years in a row, he says.@@@@1@15@@oe@2-2-2013
21554018@unknown@formal@none@1@S@Japanese demand grew by 70% in the first half of this year and the nation plans an issue of a silver commemorative coin that will require 4.5 million ounces.@@@@1@29@@oe@2-2-2013
21554019@unknown@formal@none@1@S@Compared with huge annual surpluses of more than 100 million ounces in the first half of the 1980s, world silver supplies and consumption are now nearly in balance, Mr. Demler says.@@@@1@31@@oe@2-2-2013
21554020@unknown@formal@none@1@S@Despite intermittent rallies in the past few years, improvements in the supply-demand balance haven't managed to push silver prices into a higher range.@@@@1@23@@oe@2-2-2013
21554021@unknown@formal@none@1@S@"There's just too much silver around," says Tom Butler, an analyst at Samuel Montagu & Co., a London bullion house.@@@@1@20@@oe@2-2-2013
21554022@unknown@formal@none@1@S@A huge silver stockpile at exchanges, refiners, consuming industries and government warehouses of at least 617 million ounces is the market depressant, says Shearson Lehman Hutton Inc. in a report.@@@@1@30@@oe@2-2-2013
21554023@unknown@formal@none@1@S@This year alone, inventories at the Commodity Exchange of New York jumped "by a staggering 46 million to 221 million ounces" because of producer deliveries, de-stocking by fabricators and sales by disenchanted investors, says Rhona O'Connell, London-based precious metals analyst at Shearson Lehman Hutton.@@@@1@44@@oe@2-2-2013
21554024@unknown@formal@none@1@S@"Silver production is also in an inexorable upward trend," Ms. O'Connell says.@@@@1@12@@oe@2-2-2013
21554025@unknown@formal@none@1@S@Moreover, while Asian and Middle Eastern investors hoard gold and help underpin its price, silver doesn't have the same mystique, dealers say.@@@@1@22@@oe@2-2-2013
21554026@unknown@formal@none@1@S@Investors have gotten burned on silver so often that they are far more partial to gold, says Urs Seiler, senior vice president at Union Bank of Switzerland.@@@@1@27@@oe@2-2-2013
21554027@unknown@formal@none@1@S@Yet if gold prices improve, silver prices could rally sharply, he says.@@@@1@12@@oe@2-2-2013
21554028@unknown@formal@none@1@S@However, dealers caution that any increase would be $1 to $2 at most.@@@@1@13@@oe@2-2-2013
21554029@unknown@formal@none@1@S@Looking ahead to other commodity markets this week:@@@@1@8@@oe@2-2-2013
21554030@unknown@formal@none@1@S@Livestock and Meats@@@@1@3@@oe@2-2-2013
21554031@unknown@formal@none@1@S@Analysts expect the prices of live cattle futures contracts to rise in trading today in the wake of a government quarterly census that found fewer-than-expected cattle on feedlots.@@@@1@28@@oe@2-2-2013
21554032@unknown@formal@none@1@S@After the close of trading Friday, the Agriculture Department reported that feedlots in the 13 biggest ranch states held 8.06 million cattle on Oct. 1, down 6% from that date a year earlier.@@@@1@33@@oe@2-2-2013
21554033@unknown@formal@none@1@S@Most analysts had expected the government to report a 4% decline.@@@@1@11@@oe@2-2-2013
21554034@unknown@formal@none@1@S@Feedlots fatten young cattle for slaughter, so a decline signals a tightening supply of beef.@@@@1@15@@oe@2-2-2013
21554035@unknown@formal@none@1@S@The government reported that the number of young cattle placed on feedlots during the quarter dropped 5% compared with the year-earlier quarter.@@@@1@22@@oe@2-2-2013
21554036@unknown@formal@none@1@S@Many industry analysts had been projecting a 3% decline in placements for the quarter.@@@@1@14@@oe@2-2-2013
21554037@unknown@formal@none@1@S@In the 1988 quarter, many farmers were forced to sell their cattle to feedlot operators because the drought dried out the pasture on their ranches.@@@@1@25@@oe@2-2-2013
21554038@unknown@formal@none@1@S@The number of cattle moving onto feedlots in the recent quarter was also lower because fattening cattle is less profitable.@@@@1@20@@oe@2-2-2013
21554039@unknown@formal@none@1@S@A shortage of young cattle has made them more expensive for feedlot operators to buy.@@@@1@15@@oe@2-2-2013
21554040@unknown@formal@none@1@S@The Agriculture Department also said that the number of fattened cattle slaughtered in the quarter dropped by 5% from the 1988 quarter, which was in line with projections by analysts.@@@@1@30@@oe@2-2-2013
21554041@unknown@formal@none@1@S@Energy@@@@1@1@@oe@2-2-2013
21554042@unknown@formal@none@1@S@Friday's 44-cent-a-barrel price drop to $19.98 in the expiring November contract for West Texas Intermediate crude may well set the tone for trading this week in petroleum futures on the New York Mercantile Exchange.@@@@1@34@@oe@2-2-2013
21554043@unknown@formal@none@1@S@Most traders and analysts attributed the decline to technical factors associated with the contract's going off the board.@@@@1@18@@oe@2-2-2013
21554044@unknown@formal@none@1@S@Others said that the drop continued the downward correction that's been due in the petroleum pits and that such a trend could well continue in the next several trading sessions.@@@@1@30@@oe@2-2-2013
21554045@unknown@formal@none@1@S@Barring any petroleum-related news events, trading in the days ahead should further test recent projections by oil economists and other market watchers that strong fourth-quarter demand will keep prices firm.@@@@1@30@@oe@2-2-2013
21554046@unknown@formal@none@1@S@Copper@@@@1@1@@oe@2-2-2013
21554047@unknown@formal@none@1@S@Copper prices fell sharply Friday afternoon.@@@@1@6@@oe@2-2-2013
21554048@unknown@formal@none@1@S@For example, copper for December delivery settled 4.5 cents lower at $1.2345 a pound.@@@@1@14@@oe@2-2-2013
21554049@unknown@formal@none@1@S@Pressure came from several developments including the settlement of two long-term strikes.@@@@1@12@@oe@2-2-2013
21554050@unknown@formal@none@1@S@On Friday, one analyst said, rank-and-file workers ratified a new labor agreement ending a three-month strike at the Highland Valley mine in British Columbia.@@@@1@24@@oe@2-2-2013
21554051@unknown@formal@none@1@S@In Mexico, the analyst added, employees at the Cananea mine, who have been out of work since late August when the mine was declared bankrupt by the government, accepted a 35% cut in the 3,800-man work force.@@@@1@37@@oe@2-2-2013
21554052@unknown@formal@none@1@S@The mine is expected to return to production in about a week.@@@@1@12@@oe@2-2-2013
21554053@unknown@formal@none@1@S@On Friday, selling dominated the afternoon "curb" session in London, which takes place at noon EDT.@@@@1@16@@oe@2-2-2013
21554054@unknown@formal@none@1@S@The premium of cash copper to the three-month forward offerings narrowed, indicating weaker demand for cash copper.@@@@1@17@@oe@2-2-2013
21554055@unknown@formal@none@1@S@Long-term support for the December contract was believed to be at $1.25 a pound.@@@@1@14@@oe@2-2-2013
21554056@unknown@formal@none@1@S@A technical analyst said there were a number of stop-loss orders under that level that were touched off when the contract's price fell below it.@@@@1@25@@oe@2-2-2013
21554057@unknown@formal@none@1@S@That brought in considerable fund selling, which continued until the close of trading.@@@@1@13@@oe@2-2-2013
21554058@unknown@formal@none@1@S@"In general, it was a bearish close," said Ben Hanauer, a copper trader at Rudolph Wolff & Co., a major commodities trading and brokerage firm.@@@@1@25@@oe@2-2-2013
21554059@unknown@formal@none@1@S@But whether this price break has implications for this week, he said, "we will know more when the London Metal Exchange copper stock levels are released Monday morning."@@@@1@28@@oe@2-2-2013
21554060@unknown@formal@none@1@S@Another analyst said he expected LME inventories to be down by about 15,000 tons when the weekly report is issued.@@@@1@20@@oe@2-2-2013
21554061@unknown@formal@none@1@S@Bernard Savaiko, senior commodities analyst at PaineWebber Inc., said that when traders saw the market wasn't reacting positively to the forecasts of lower LME stocks, they perceived a bearish sign.@@@@1@30@@oe@2-2-2013
21554062@unknown@formal@none@1@S@He also noted that the Japanese, who had been buying at prices just above the $1.25 level, apparently pulled back from the market on Friday.@@@@1@25@@oe@2-2-2013
21554063@unknown@formal@none@1@S@Mr. Savaiko said he sees a possibility of the December contract dropping to $1.05 a pound.@@@@1@16@@oe@2-2-2013
21555001@unknown@formal@none@1@S@Hewlett-Packard Co. will announce today a software program that allows computers in a network to speed up computing tasks by sending the tasks to each other.@@@@1@26@@oe@2-2-2013
21555002@unknown@formal@none@1@S@Called Task Broker, the program acts something like an auctioneer among a group of computers wired together.@@@@1@17@@oe@2-2-2013
21555003@unknown@formal@none@1@S@If a machine has a big computing task, Task Broker asks other computers in the network for "bids" on the job.@@@@1@21@@oe@2-2-2013
21555004@unknown@formal@none@1@S@It then determines which machine is free to do the task most quickly and sends the task to that machine.@@@@1@20@@oe@2-2-2013
21555005@unknown@formal@none@1@S@Hewlett-Packard claims that the software allows a network to run three times as many tasks as conventional networks and will run each task twice as fast.@@@@1@26@@oe@2-2-2013
21555006@unknown@formal@none@1@S@The new Hewlett-Packard program, said analyst John McCarthy at Forrester Research Inc., a computer-market research company, "is a key building block as people move to this new model of distributed processing."@@@@1@31@@oe@2-2-2013
21555007@unknown@formal@none@1@S@In today's computer networks, some machines often sit idle while others are overtaxed.@@@@1@13@@oe@2-2-2013
21555008@unknown@formal@none@1@S@With the Hewlett-Packard program, he said, "You get more bang for the buck you've spent on computers."@@@@1@17@@oe@2-2-2013
21555009@unknown@formal@none@1@S@The program, which will be shipped in January 1990, runs on the Unix operating system.@@@@1@15@@oe@2-2-2013
21555010@unknown@formal@none@1@S@Hewlett-Packard will charge $5,000 for a license covering 10 users.@@@@1@10@@oe@2-2-2013
21555011@unknown@formal@none@1@S@The program now works on all Hewlett-Packard and Apollo workstations and on computers made by Multiflow Computer Inc. of Branford, Conn.@@@@1@21@@oe@2-2-2013
21555012@unknown@formal@none@1@S@Hewlett-Packard said it will sell versions later next year that run on Sun Microsystems Inc. and Digital Equipment Corp. machines.@@@@1@20@@oe@2-2-2013
21555013@unknown@formal@none@1@S@The Task Broker differs from other programs that spread computing tasks around a network.@@@@1@14@@oe@2-2-2013
21555014@unknown@formal@none@1@S@A previously available program called Network Computing System, developed by Hewlett-Packard's Apollo division, for instance, takes a task and splits it up into parts, divvying up those parts to several computers in a network for simultaneous processing.@@@@1@37@@oe@2-2-2013
21555015@unknown@formal@none@1@S@But programs in individual computers must be revised in order to work with that system.@@@@1@15@@oe@2-2-2013
21555016@unknown@formal@none@1@S@Applications won't have to be rewritten to work with Task Broker, Hewlett-Packard said, and the user of a computer won't be able to tell that another machine is doing the work.@@@@1@31@@oe@2-2-2013
21555017@unknown@formal@none@1@S@The Task Broker "turns that network into -- as far as the user is concerned -- one giant computer," said Bill Kay, general manager of Hewlett-Packard's workstation group.@@@@1@28@@oe@2-2-2013
21556001@unknown@formal@none@1@S@Price wars between the fast-food giants are starting to clobber the fast-food little guys: the franchisees.@@@@1@16@@oe@2-2-2013
21556002@unknown@formal@none@1@S@"When elephants start fighting, ants get killed," says Murray Riese, co-owner of National Restaurants, a New York franchisee for Pizza Hut, Roy Rogers and other chains.@@@@1@26@@oe@2-2-2013
21556003@unknown@formal@none@1@S@As hamburger and pizza outlets saturate one area after another, franchisers are struggling desperately for market share, slashing prices and stepping up costly promotions.@@@@1@24@@oe@2-2-2013
21556004@unknown@formal@none@1@S@The fight is putting a tight squeeze on profits of many, threatening to drive the smallest ones out of business and straining relations between the national fast-food chains and their franchisees.@@@@1@31@@oe@2-2-2013
21556005@unknown@formal@none@1@S@The chains "used to offer discounts during winter when business was slow, but in the last year or so, discounting has become a 12-month thing," says Donald Harty, president of Charisma Group Inc., a New York franchisee of Grand Metropolitan PLC's Burger King chain.@@@@1@44@@oe@2-2-2013
21556006@unknown@formal@none@1@S@Though Charisma's sales are up slightly this year, Mr. Harty says profits will be flat or lower.@@@@1@17@@oe@2-2-2013
21556007@unknown@formal@none@1@S@And Bill Konopnicki, a Safford, Ariz., licensee of McDonald's Corp. who is chairman of the company's National Operators Advisory Board, says some fast-food outlets "could be in serious trouble, based on the amount of discounting that seems to be going on."@@@@1@41@@oe@2-2-2013
21556008@unknown@formal@none@1@S@Until recently, the huge fast-food industry, with sales of about $60.1 billion last year, kept price-skirmishing to a minimum.@@@@1@19@@oe@2-2-2013
21556009@unknown@formal@none@1@S@But early this year, PepsiCo Inc.'s Taco Bell unit and Wendy's International Inc. slashed prices and stepped up promotions, says John Rohs, an analyst for Wertheim Schroder & Co.@@@@1@29@@oe@2-2-2013
21556010@unknown@formal@none@1@S@That brought a chain reaction in the industry.@@@@1@8@@oe@2-2-2013
21556011@unknown@formal@none@1@S@The situation was further aggravated early this month, when McDonald's set plans to heat up the discounting by offering coupons.@@@@1@20@@oe@2-2-2013
21556012@unknown@formal@none@1@S@It also decided to go national with pizza, which it has been test-marketing.@@@@1@13@@oe@2-2-2013
21556013@unknown@formal@none@1@S@Now, two-for-one deals on pizza are common; so are 99-cent specials on sandwiches normally priced twice as high.@@@@1@18@@oe@2-2-2013
21556014@unknown@formal@none@1@S@The discounting, say fast-food operators, occurs on a scale and with a frequency they haven't seen before.@@@@1@17@@oe@2-2-2013
21556015@unknown@formal@none@1@S@The result is that some franchisees are running hard just to stay even, laying off middle managers and working harder to make less.@@@@1@23@@oe@2-2-2013
21556016@unknown@formal@none@1@S@Joe Mack, a district manager for Cormack Enterprises Inc., a Burger King operator in Omaha, Neb., says discounting is so prevalent that "we have to serve 15% to 20% more customers" to keep sales level.@@@@1@35@@oe@2-2-2013
21556017@unknown@formal@none@1@S@"It's almost as if you're doing extra work to give away the food," he says.@@@@1@15@@oe@2-2-2013
21556018@unknown@formal@none@1@S@Alan D'Agosto, president of Panda's Inc., an operator of Arby's restaurants in Omaha, says: "All we're doing is keeping the customers coming, but we aren't increasing sales."@@@@1@27@@oe@2-2-2013
21556019@unknown@formal@none@1@S@With fast-food outlets on every corner, he, like many, doesn't think he has a choice in the price war: "Our customers say that they won't go into a fast-food store unless they get a coupon."@@@@1@35@@oe@2-2-2013
21556020@unknown@formal@none@1@S@If the battle continues much longer, many fast-food businesses will close or merge, predicts Vincent Morrissey, who owns a string of Kentucky Fried Chicken stores in the Midwest.@@@@1@28@@oe@2-2-2013
21556021@unknown@formal@none@1@S@"The industry is overbuilt," he says.@@@@1@6@@oe@2-2-2013
21556022@unknown@formal@none@1@S@"Fast-food franchisers have managed to squeeze in stores into every corner available."@@@@1@12@@oe@2-2-2013
21556023@unknown@formal@none@1@S@The National Restaurant Association says quick-service restaurant units in the U.S. rose 14% to 131,146 between 1983 and 1987, the last year for which figures are available.@@@@1@27@@oe@2-2-2013
21556024@unknown@formal@none@1@S@With the market so crowded, says a spokesman for Wendy's in Columbus, Ohio, "If you're doing well, you're doing well at someone else's expense."@@@@1@24@@oe@2-2-2013
21556025@unknown@formal@none@1@S@Simply put, there isn't enough business for every store to grow.@@@@1@11@@oe@2-2-2013
21556026@unknown@formal@none@1@S@According to Mr. Rohs, inflation-adjusted, same-store sales at company-owned Wendy's units in the U.S. have trailed year-earlier levels throughout 1989, except for August.@@@@1@23@@oe@2-2-2013
21556027@unknown@formal@none@1@S@"McDonald's has also been running negative all year," the analyst says.@@@@1@11@@oe@2-2-2013
21556028@unknown@formal@none@1@S@Spokesmen for Wendy's and McDonald's criticized Mr. Rohs's calculations.@@@@1@9@@oe@2-2-2013
21556029@unknown@formal@none@1@S@Jack Greenberg, executive vice president and chief financial officer of McDonald's, says the company doesn't compute, much less disclose, inflation-adjusted, same-store sales.@@@@1@22@@oe@2-2-2013
21556030@unknown@formal@none@1@S@He adds that short-term comparisons "can be very misleading because of differences in timing of marketing programs from year to year."@@@@1@21@@oe@2-2-2013
21556031@unknown@formal@none@1@S@Profit margins at company-owned McDonald's outlets in the U.S. "are holding up quite nicely," says Mr. Greenberg.@@@@1@17@@oe@2-2-2013
21556032@unknown@formal@none@1@S@Profits of franchisees haven't been higher since the mid-1970s, he adds.@@@@1@11@@oe@2-2-2013
21556033@unknown@formal@none@1@S@But Mr. Greenberg's sanguine outlook isn't matched by many fast-food industry observers.@@@@1@12@@oe@2-2-2013
21556034@unknown@formal@none@1@S@Smaller chains and single-store operators will be the first to fail, many in the industry predict.@@@@1@16@@oe@2-2-2013
21556035@unknown@formal@none@1@S@Big franchise groups "can ride out the storm a lot longer," says Mr. Harty, the Burger King operator in New York.@@@@1@21@@oe@2-2-2013
21556036@unknown@formal@none@1@S@The prolonged price pressures are driving a wedge between some franchisers and their franchisees.@@@@1@14@@oe@2-2-2013
21556037@unknown@formal@none@1@S@Mr. Morrissey, the Kentucky Fried Chicken franchisee, notes that most franchise owners must absorb increases in expenses without any cut in the royalties, or portion of sales, that they must pay franchisers.@@@@1@32@@oe@2-2-2013
21556038@unknown@formal@none@1@S@Franchisees can't be forced to go along with a franchiser's discounting.@@@@1@11@@oe@2-2-2013
21556039@unknown@formal@none@1@S@But once a franchisee agrees to a promotional program, the franchiser can demand full participation to the very end, says Lew Rudnick, a principal of Rudnick & Wolfe, a Chicago law firm with franchise industry clients.@@@@1@36@@oe@2-2-2013
21556040@unknown@formal@none@1@S@He says courts have held that antitrust considerations are outweighed in such cases by the need to protect consumers from deceptive marketing.@@@@1@22@@oe@2-2-2013
21556041@unknown@formal@none@1@S@In any case, many franchisees, in order to stay on good terms with franchisers, routinely go along with promotions.@@@@1@19@@oe@2-2-2013
21556042@unknown@formal@none@1@S@Says Mr. Riese of National Restaurants: "If you resisted on prices, maybe you would never get that telephone call about a new franchise.@@@@1@23@@oe@2-2-2013
21557001@unknown@formal@none@1@S@Companies listed below reported quarterly profit substantially different from the average of analysts' estimates.@@@@1@14@@oe@2-2-2013
21557002@unknown@formal@none@1@S@The companies are followed by at least three analysts, and had a minimum five-cent change in actual earnings per share.@@@@1@20@@oe@2-2-2013
21557003@unknown@formal@none@1@S@Estimated and actual results involving losses are omitted.@@@@1@8@@oe@2-2-2013
21557004@unknown@formal@none@1@S@The percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past 30 days.@@@@1@23@@oe@2-2-2013
21557005@unknown@formal@none@1@S@Otherwise, actual profit is compared with the 300-day estimate.@@@@1@9@@oe@2-2-2013
21558001@unknown@formal@none@1@S@Companies listed below reported quarterly profit substantially different from the average of analysts' estimates.@@@@1@14@@oe@2-2-2013
21558002@unknown@formal@none@1@S@The companies are followed by at least three analysts, and had a minimum five-cent change in actual earnings per share.@@@@1@20@@oe@2-2-2013
21558003@unknown@formal@none@1@S@Estimated and actual results involving losses are omitted.@@@@1@8@@oe@2-2-2013
21558004@unknown@formal@none@1@S@The percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past 30 days.@@@@1@23@@oe@2-2-2013
21558005@unknown@formal@none@1@S@Otherwise, actual profit is compared with the 300-day estimate.@@@@1@9@@oe@2-2-2013
21559001@unknown@formal@none@1@S@CalMat Co. said it completed a $32.8 million sale of assets from its Los Angeles area real estate portfolio for net income of $12 million.@@@@1@25@@oe@2-2-2013
21559002@unknown@formal@none@1@S@CalMat said the sale is part of its previously announced plan to sell much of its real estate holdings to focus on its core business of mining and producing asphalt, concrete, rock and sand.@@@@1@34@@oe@2-2-2013
21560001@unknown@formal@none@1@S@And you thought the only reason to save your canceled checks was to prepare for an IRS audit.@@@@1@18@@oe@2-2-2013
21560002@unknown@formal@none@1@S@Reggie Jackson, the retired baseball star, has found another use for them.@@@@1@12@@oe@2-2-2013
21560003@unknown@formal@none@1@S@Mr. Jackson, who won the nickname "Mr. October" for his World Series exploits, is selling some of his canceled checks to autograph collectors through a dealer for as much as $500 each.@@@@1@32@@oe@2-2-2013
21560004@unknown@formal@none@1@S@Dealers say the budding trade in Mr. Jackson's canceled checks is unusual.@@@@1@12@@oe@2-2-2013
21560005@unknown@formal@none@1@S@"I don't know of any living ballplayer that's ever done it," says Jack Smalling, a dealer in Ames, Iowa, and a recognized expert in the field of baseball autographs.@@@@1@29@@oe@2-2-2013
21560006@unknown@formal@none@1@S@An initial batch of Mr. Jackson's checks was on sale at a baseball-card show held in San Francisco over Labor Day weekend.@@@@1@22@@oe@2-2-2013
21560007@unknown@formal@none@1@S@Mr. Jackson showed up at the affair to sign autographs for a fee as well.@@@@1@15@@oe@2-2-2013
21560008@unknown@formal@none@1@S@"For someone who has everything else -- Reggie's jersey, cap and cards -- his checks might be a nice addition," says William Vizas, owner of Bill's Sports Collectibles in Denver, who examined the checks at the San Francisco card show.@@@@1@40@@oe@2-2-2013
21560009@unknown@formal@none@1@S@For years, the canceled checks of a small number of well-known baseball players have been bought and sold.@@@@1@18@@oe@2-2-2013
21560010@unknown@formal@none@1@S@But these players were dead.@@@@1@5@@oe@2-2-2013
21560011@unknown@formal@none@1@S@"Maybe three years ago, there were a lot of {Ty} Cobbs in the hobby, and awhile back there were Babe Ruth checks," says Mr. Smalling.@@@@1@25@@oe@2-2-2013
21560012@unknown@formal@none@1@S@However, the thought of a living player selling his checks rubs some people the wrong way.@@@@1@16@@oe@2-2-2013
21560013@unknown@formal@none@1@S@"Maybe I'm a little stuffy, but I wouldn't sell them," sniffs Bob Machon, owner of Papa's Sports Cards in Menlo Park, Calif.@@@@1@22@@oe@2-2-2013
21560014@unknown@formal@none@1@S@"Who knows how much they'll be worth 100 years from now?"@@@@1@11@@oe@2-2-2013
21560015@unknown@formal@none@1@S@And Mr. Smalling doesn't believe they're worth all that much now.@@@@1@11@@oe@2-2-2013
21560016@unknown@formal@none@1@S@"I don't think the checks are worth $15 apiece," he says.@@@@1@11@@oe@2-2-2013
21560017@unknown@formal@none@1@S@Why Mr. Jackson, who couldn't be reached for comment, has made some of his checks available for sale isn't clear.@@@@1@20@@oe@2-2-2013
21560018@unknown@formal@none@1@S@He probably hasn't done it for the cash.@@@@1@8@@oe@2-2-2013
21560019@unknown@formal@none@1@S@"I would say he's definitely not in need of money," says Matt Merola, an agent of Mr. Jackson's based in New York.@@@@1@22@@oe@2-2-2013
21560020@unknown@formal@none@1@S@"He has good investments."@@@@1@4@@oe@2-2-2013
21560021@unknown@formal@none@1@S@And Mr. Jackson probably has opened new checking accounts, too.@@@@1@10@@oe@2-2-2013
21560022@unknown@formal@none@1@S@Or at least he should.@@@@1@5@@oe@2-2-2013
21560023@unknown@formal@none@1@S@"I assume those accounts are closed," says Mr. Smalling, referring to the accounts of the canceled checks.@@@@1@17@@oe@2-2-2013
21560024@unknown@formal@none@1@S@"I don't think he'd want to give out his current account numbers.@@@@1@12@@oe@2-2-2013
21561001@unknown@formal@none@1@S@USX Corp. and its Japanese partner, Kobe Steel Ltd., agreed to form a joint venture to build a new plant to produce hot-dipped galvanized sheet products, mainly for the automotive market.@@@@1@31@@oe@2-2-2013
21561002@unknown@formal@none@1@S@Terms weren't disclosed for the plant, which will have annual capacity of 600,000 tons.@@@@1@14@@oe@2-2-2013
21561003@unknown@formal@none@1@S@The move by the nation's largest steelmaker follows a string of earlier announcements by other major steel companies.@@@@1@18@@oe@2-2-2013
21561004@unknown@formal@none@1@S@Bethlehem Steel Corp., LTV Corp. and Armco Inc. all have plans to build additional lines for such coated corrosion-resistant steel.@@@@1@20@@oe@2-2-2013
21561005@unknown@formal@none@1@S@The surge in production, analysts say, raises questions about capacity outpacing demand.@@@@1@12@@oe@2-2-2013
21561006@unknown@formal@none@1@S@They note that most of the new plants will come on line in 1992, when the current import trade restraint program ends, which could result in more imports.@@@@1@28@@oe@2-2-2013
21561007@unknown@formal@none@1@S@"There's too much capacity," contended Charles Bradford, an analyst with Merrill Lynch Capital Markets.@@@@1@14@@oe@2-2-2013
21561008@unknown@formal@none@1@S@"I don't think there's anyone not building one."@@@@1@8@@oe@2-2-2013
21561009@unknown@formal@none@1@S@He does add, however, that transplanted Japanese car makers are boosting the levels of U.S.-made steel in their autos, instead of relying heavily on imported steel.@@@@1@26@@oe@2-2-2013
21561010@unknown@formal@none@1@S@That trend could increase demand for hot-dipped galvanized sheet.@@@@1@9@@oe@2-2-2013
21561011@unknown@formal@none@1@S@The hot-dipped galvanized segment is one of the fastest-growing and most profitable segments of the steel market, coveted by all major integrated steelmakers wanting to maintain an edge over smaller minimills and reconstructed mills -- those spun off to employees.@@@@1@40@@oe@2-2-2013
21561012@unknown@formal@none@1@S@Indeed, USX said it expects the market for coated sheet steel to reach 12 million tons annually by 1992, compared with 10.2 million tons shipped in 1988.@@@@1@27@@oe@2-2-2013
21561013@unknown@formal@none@1@S@For the first eight months of 1989, analysts say shipments of hot-dipped galvanized steel increased about 8% from a year earlier, while overall steel shipments were up only 2.4%.@@@@1@29@@oe@2-2-2013
21561014@unknown@formal@none@1@S@USX and Kobe Steel hope to reach a definitive agreement establishing the 50-50 partnership by the end of the year, with construction tentatively slated for the spring of 1990 and production by 1992.@@@@1@33@@oe@2-2-2013
21561015@unknown@formal@none@1@S@USX already has six lines in existing plants producing hot-dipped galvanized steel, but this marks the first so-called greenfield plant for such production.@@@@1@23@@oe@2-2-2013
21561016@unknown@formal@none@1@S@Moreover, it will boost by 50% USX's current hot-dipped capacity of 1,275,000 tons.@@@@1@13@@oe@2-2-2013
21561017@unknown@formal@none@1@S@The company said it doesn't expect the new line's capacity to adversely affect the company's existing hot-dipped galvanizing lines.@@@@1@19@@oe@2-2-2013
21561018@unknown@formal@none@1@S@Steelmakers have also been adding capacity of so-called electrogalvanized steel, which is another way to make coated corrosion-resistant steel.@@@@1@19@@oe@2-2-2013
21561019@unknown@formal@none@1@S@One of the advantages of the hot-dipped process is that it allows the steel to be covered with a thicker coat of zinc more quickly.@@@@1@25@@oe@2-2-2013
21562001@unknown@formal@none@1@S@ONCE YOU MAKE UP your mind about an investment, the rest is easy, right?@@@@1@14@@oe@2-2-2013
21562002@unknown@formal@none@1@S@You just call your broker and say "buy" or "sell."@@@@1@10@@oe@2-2-2013
21562003@unknown@formal@none@1@S@Dream on.@@@@1@2@@oe@2-2-2013
21562004@unknown@formal@none@1@S@There are all sorts of ways to give buy and sell instructions to a broker -- and just as many ways to get burned if you don't know what you're doing.@@@@1@31@@oe@2-2-2013
21562005@unknown@formal@none@1@S@So here's a rundown of the most common types of market orders permitted by the stock and commodity exchanges.@@@@1@19@@oe@2-2-2013
21562006@unknown@formal@none@1@S@Two things to keep in mind: Not all exchanges accept every type of order.@@@@1@14@@oe@2-2-2013
21562007@unknown@formal@none@1@S@And even when a specific order is acceptable to an exchange, a brokerage firm can refuse to enter it for a customer.@@@@1@22@@oe@2-2-2013
21562008@unknown@formal@none@1@S@Market Order: This is probably the most widely used order -- and the one most open to abuse by unscrupulous floor brokers, since it imposes no price restrictions.@@@@1@28@@oe@2-2-2013
21562009@unknown@formal@none@1@S@With a market order, an investor tells a broker to buy or sell "at the market."@@@@1@16@@oe@2-2-2013
21562010@unknown@formal@none@1@S@It's like saying, "get me in now" or "get me out now."@@@@1@12@@oe@2-2-2013
21562011@unknown@formal@none@1@S@For example, if wheat is being offered at $4.065 and bid at $4.060, a market order to buy would be filled at the higher price and a market order to sell at the lower price.@@@@1@35@@oe@2-2-2013
21562012@unknown@formal@none@1@S@A recent indictment alleges that some floor brokers at the two largest Chicago commodity exchanges used market orders to fill customers' orders at unfavorable prices by arranging trades with fellow brokers.@@@@1@31@@oe@2-2-2013
21562013@unknown@formal@none@1@S@Profits realized from these trades would then be shared by the conspiring brokers.@@@@1@13@@oe@2-2-2013
21562014@unknown@formal@none@1@S@Limit Order: Limit orders are used when investors want to restrict the amount they will receive or pay for an investment.@@@@1@21@@oe@2-2-2013
21562015@unknown@formal@none@1@S@Investors do this by specifying a minimum price at which the investment may be sold or the maximum price that may be paid for it.@@@@1@25@@oe@2-2-2013
21562016@unknown@formal@none@1@S@Suppose an investor wants to sell a stock, but not for less than $55.@@@@1@14@@oe@2-2-2013
21562017@unknown@formal@none@1@S@A limit order to sell could be entered at that price.@@@@1@11@@oe@2-2-2013
21562018@unknown@formal@none@1@S@One risk: Investors may regret the restriction if the stock reaches 54 and then falls.@@@@1@15@@oe@2-2-2013
21562019@unknown@formal@none@1@S@Unless the market goes at least one tick (the smallest price increment permitted) beyond the limit price, investors aren't assured of having their orders filled because there may not be sufficient trading volume to permit filling it at the specified price.@@@@1@41@@oe@2-2-2013
21562020@unknown@formal@none@1@S@Stop Order: Stop orders tell a floor broker to buy or sell an investment once the price reaches a certain level.@@@@1@21@@oe@2-2-2013
21562021@unknown@formal@none@1@S@Once the price reaches that level, a stop order turns into a market order, and the order is filled at whatever price the broker can get.@@@@1@26@@oe@2-2-2013
21562022@unknown@formal@none@1@S@Stop orders are sometimes called "stop-loss" orders because they are frequently used to protect profits or limit losses.@@@@1@18@@oe@2-2-2013
21562023@unknown@formal@none@1@S@While stop orders sound similar to limit orders, there is a difference: Sell stops must be entered at a price below the current market price and buy stops above.@@@@1@29@@oe@2-2-2013
21562024@unknown@formal@none@1@S@In contrast, sell limit orders must be placed above the market price and buy limit orders are placed below.@@@@1@19@@oe@2-2-2013
21562025@unknown@formal@none@1@S@The crash in October 1987 and last Friday's sell-off painfully taught some investors exactly what stop orders will and won't do.@@@@1@21@@oe@2-2-2013
21562026@unknown@formal@none@1@S@An investor who may have placed a stop-loss order at $90 under a stock that was trading at $100 a share on the Friday before the crash was stunned to discover that the order was filled at $75 when the stock opened at that price on Monday.@@@@1@47@@oe@2-2-2013
21562027@unknown@formal@none@1@S@Stop-Limit Order: Stop-limit orders turn into limit orders when an investment trades at the price specified in the order.@@@@1@19@@oe@2-2-2013
21562028@unknown@formal@none@1@S@Unlike stop orders -- which are filled at the market price when the stop price is hit -- stop-limit orders demand that the trades be made only at the specified price.@@@@1@31@@oe@2-2-2013
21562029@unknown@formal@none@1@S@If it can't be made at that price, it doesn't get filled.@@@@1@12@@oe@2-2-2013
21562030@unknown@formal@none@1@S@Investors who wish to be out of a position, without the risk of receiving a worse-than-expected price from a market order, may use this type of order to specify the price at which the order must be filled.@@@@1@38@@oe@2-2-2013
21562031@unknown@formal@none@1@S@But if the market moves quickly enough, it may be impossible for the broker to carry out the order because the investment has passed the specified price.@@@@1@27@@oe@2-2-2013
21562032@unknown@formal@none@1@S@Market-If-Touched Order: Market-if-touched orders are like stop orders in that they become market orders if a specified price is reached.@@@@1@20@@oe@2-2-2013
21562033@unknown@formal@none@1@S@However, unlike a buy-stop order, a buy market-if-touched order is entered at a price below the current price, while a sell market-if-touched order is entered at a price above it.@@@@1@30@@oe@2-2-2013
21562034@unknown@formal@none@1@S@As soon as the market trades at the specified price the floor broker will fill it at the best possible price.@@@@1@21@@oe@2-2-2013
21562035@unknown@formal@none@1@S@Fill-Or-Kill Order: The fill-or-kill order is one of several associated with the timing of trades.@@@@1@15@@oe@2-2-2013
21562036@unknown@formal@none@1@S@It instructs a broker to buy or sell an investment at the specified price or better.@@@@1@16@@oe@2-2-2013
21562037@unknown@formal@none@1@S@But if the investment can't be bought or sold immediately, the order is automatically canceled.@@@@1@15@@oe@2-2-2013
21562038@unknown@formal@none@1@S@Gregory Bessemer, who came in second in the stock division of the recently completed U.S. Trading Championship, says he uses fill-or-kill orders almost exclusively when trading options.@@@@1@27@@oe@2-2-2013
21562039@unknown@formal@none@1@S@"I like to use them to feel out the market," he says.@@@@1@12@@oe@2-2-2013
21562040@unknown@formal@none@1@S@"If they don't fill it immediately, then I can start over at a new price or try again with the same price."@@@@1@22@@oe@2-2-2013
21562041@unknown@formal@none@1@S@Not-Held Order: This is another timing order.@@@@1@7@@oe@2-2-2013
21562042@unknown@formal@none@1@S@It is a market order that allows floor brokers to take more time to buy or sell an investment, if they think they can get a better price by waiting.@@@@1@30@@oe@2-2-2013
21562043@unknown@formal@none@1@S@Not-held orders, which are also known as "disregard the tape" orders, are always done at the customer's risk.@@@@1@18@@oe@2-2-2013
21562044@unknown@formal@none@1@S@One-Cancels-The-Other Order: This is really two orders in one, generally for the same security or commodity, instructing floor brokers to fill whichever order they can first and then cancel the other order.@@@@1@32@@oe@2-2-2013
21562045@unknown@formal@none@1@S@In a fast-moving market, it prevents an investor from getting stuck with having made two trades on the same security.@@@@1@20@@oe@2-2-2013
21562046@unknown@formal@none@1@S@Specific-Time Order: This type of order couples many of the orders described above with instructions that the order must be carried out at or by a certain time.@@@@1@28@@oe@2-2-2013
21562047@unknown@formal@none@1@S@"On the close" can be added to many types of orders.@@@@1@11@@oe@2-2-2013
21562048@unknown@formal@none@1@S@For example, "market-on-close orders" must be filled during the last few minutes of trading for the day at a price that is within the official closing range of prices as determined by the exchange.@@@@1@34@@oe@2-2-2013
21562049@unknown@formal@none@1@S@"Stop-close-only orders" are stop orders that only become active during the closing minutes of trading.@@@@1@15@@oe@2-2-2013
21562050@unknown@formal@none@1@S@"Day orders" expire at the end of the day on which they are entered, "good-till-canceled orders" have no expiration date.@@@@1@20@@oe@2-2-2013
21562051@unknown@formal@none@1@S@Most brokers assume that all orders are day orders unless specified otherwise.@@@@1@12@@oe@2-2-2013
21562052@unknown@formal@none@1@S@On Oct. 19, 1987, some investors learned the consequences of entering "good-til-canceled limit orders" and then forgetting about them.@@@@1@19@@oe@2-2-2013
21562053@unknown@formal@none@1@S@They found they had bought stock from limit orders that they might have entered weeks or months earlier and had forgotten to cancel.@@@@1@23@@oe@2-2-2013
21562054@unknown@formal@none@1@S@It is always the responsibility of investors to keep track of the orders they have placed.@@@@1@16@@oe@2-2-2013
21562055@unknown@formal@none@1@S@Investors who change their mind about buying or selling after an order has been filled are, usually, stuck with the consequences.@@@@1@21@@oe@2-2-2013
21562056@unknown@formal@none@1@S@Mr. Angrist writes on the options and commodities markets for The Wall Street Journal.@@@@1@14@@oe@2-2-2013
21563001@unknown@formal@none@1@S@IN SIZING UP the risks of stock-market investments, there's probably no starting place better than "beta."@@@@1@16@@oe@2-2-2013
21563002@unknown@formal@none@1@S@But investors better not ignore its limitations, either.@@@@1@8@@oe@2-2-2013
21563003@unknown@formal@none@1@S@Beta is a handy gauge that measures the volatility of a stock or stock mutual fund.@@@@1@16@@oe@2-2-2013
21563004@unknown@formal@none@1@S@For any given move in the overall market, it suggests how steeply that particular issue might rise or fall.@@@@1@19@@oe@2-2-2013
21563005@unknown@formal@none@1@S@Beta figures are widely available and easy to interpret.@@@@1@9@@oe@2-2-2013
21563006@unknown@formal@none@1@S@The beta of the broad market, typically defined as the Standard & Poor's 500-stock index, is always 1.0.@@@@1@18@@oe@2-2-2013
21563007@unknown@formal@none@1@S@So a stock with a beta of 0.5 is half as volatile, one at 1.5 is 50% more volatile, and so on.@@@@1@22@@oe@2-2-2013
21563008@unknown@formal@none@1@S@Cautious investors should generally go with stocks that have low betas.@@@@1@11@@oe@2-2-2013
21563009@unknown@formal@none@1@S@Go with high-beta stocks to get the biggest payoff from a bet on a bull market.@@@@1@16@@oe@2-2-2013
21563010@unknown@formal@none@1@S@Remember, though, that beta also has important limitations.@@@@1@8@@oe@2-2-2013
21563011@unknown@formal@none@1@S@"Beta is only part of the risk in a stock," says William F. Sharpe, the Stanford University emeritus professor who developed the measure.@@@@1@23@@oe@2-2-2013
21563012@unknown@formal@none@1@S@"There is risk that is not associated with market moves, and the beta doesn't tell you the magnitude of that."@@@@1@20@@oe@2-2-2013
21563013@unknown@formal@none@1@S@In particular, beta doesn't measure the company- and industry-specific risk associated with an individual stock.@@@@1@15@@oe@2-2-2013
21563014@unknown@formal@none@1@S@That "business" risk is very significant for an investor with only a few stocks, but it virtually disappears in a large and well-diversified portfolio.@@@@1@24@@oe@2-2-2013
21563015@unknown@formal@none@1@S@Beta is also a poor indicator of the risk in stock groups that march to their own drummer.@@@@1@18@@oe@2-2-2013
21563016@unknown@formal@none@1@S@In particular, the prices of gold and other precious-metals stocks shoot up and down, but the stocks tend to have low betas because their moves are not market-inspired.@@@@1@28@@oe@2-2-2013
21563017@unknown@formal@none@1@S@Concern that investors could misinterpret such readings led the American Association of Individual Investors to eliminate beta figures for precious-metals funds in the 1989 edition of its mutual-fund guide.@@@@1@29@@oe@2-2-2013
21563018@unknown@formal@none@1@S@"Our fear was people would look just at the beta {of a gold fund} and say here is an investment with very low risk," says John Markese, director of research for the Chicago-based group.@@@@1@34@@oe@2-2-2013
21563019@unknown@formal@none@1@S@"In reality it's very volatile, but the movements are not because of market movements.@@@@1@14@@oe@2-2-2013
21564001@unknown@formal@none@1@S@READY TO REVIEW the riskiness of your investment portfolio?@@@@1@9@@oe@2-2-2013
21564002@unknown@formal@none@1@S@First, a pop quiz.@@@@1@4@@oe@2-2-2013
21564003@unknown@formal@none@1@S@When you think of the words "risk" and "investment," what's the specific peril that comes to mind?@@@@1@17@@oe@2-2-2013
21564004@unknown@formal@none@1@S@Pencils down.@@@@1@2@@oe@2-2-2013
21564005@unknown@formal@none@1@S@If you're like most people, you said it's a holding that goes completely sour -- maybe a bond that defaults or a stock whose value disappears in a bankruptcy proceeding.@@@@1@30@@oe@2-2-2013
21564006@unknown@formal@none@1@S@"People tend to see risk primarily on that one dimension," says Timothy Kochis, national director of personal financial planning for accountants Deloitte, Haskins & Sells.@@@@1@25@@oe@2-2-2013
21564007@unknown@formal@none@1@S@But therein lies another aspect of investment risk: the hazard of shaping your portfolio to avoid one or more types of risk and being blind-sided by others.@@@@1@27@@oe@2-2-2013
21564008@unknown@formal@none@1@S@This is clearly not good news to all you people who sleep like babies every night, lulled by visions of your money sitting risk-free in six-month CDs.@@@@1@27@@oe@2-2-2013
21564009@unknown@formal@none@1@S@Risk wears many disguises, and investments that are low in one type of obvious risk can be distressingly high in other, less obvious kinds.@@@@1@24@@oe@2-2-2013
21564010@unknown@formal@none@1@S@U.S. Treasury bonds, for example, are supersafe when it comes to returning money at maturity.@@@@1@15@@oe@2-2-2013
21564011@unknown@formal@none@1@S@But their value as investments can be decimated by inflation, which erodes the purchasing power of bonds' fixed-dollar interest payments.@@@@1@20@@oe@2-2-2013
21564012@unknown@formal@none@1@S@Risk is also a function of time.@@@@1@7@@oe@2-2-2013
21564013@unknown@formal@none@1@S@When financial professionals measure risk mathematically, they usually focus on the volatility of short-term returns.@@@@1@15@@oe@2-2-2013
21564014@unknown@formal@none@1@S@Stocks are much riskier than Treasury bills, for example, because the range in performance from the best years to the worst is much wider.@@@@1@24@@oe@2-2-2013
21564015@unknown@formal@none@1@S@That is usually measured by the standard deviation, or divergence, of annual results from the average return over time.@@@@1@19@@oe@2-2-2013
21564016@unknown@formal@none@1@S@But investors who are preoccupied with short-term fluctuations may be paying too little attention to another big risk -- not generating enough money to meet long-term financial and life-style goals.@@@@1@30@@oe@2-2-2013
21564017@unknown@formal@none@1@S@For instance, some investors have sworn off stocks since the 1987 market crash; last Friday's debacle only reinforced those feelings.@@@@1@20@@oe@2-2-2013
21564018@unknown@formal@none@1@S@But the stock market, despite some stomach-churning declines, has far outperformed other securities over extended periods.@@@@1@16@@oe@2-2-2013
21564019@unknown@formal@none@1@S@By retreating to the apparent security of, say, money-market funds, investors may not be earning enough investment return to pay for a comfortable retirement.@@@@1@24@@oe@2-2-2013
21564020@unknown@formal@none@1@S@"That's the biggest risk of all -- the risk of not meeting your objectives," says Steven B. Enright, a New York financial planner with Seidman Financial Services.@@@@1@27@@oe@2-2-2013
21564021@unknown@formal@none@1@S@As a result, financial advisers say they take several steps when evaluating the riskiness of clients' portfolios.@@@@1@17@@oe@2-2-2013
21564022@unknown@formal@none@1@S@They estimate the return a person's current portfolio is likely to generate over time, along with a standard deviation that suggests how much the return will vary year by year.@@@@1@30@@oe@2-2-2013
21564023@unknown@formal@none@1@S@They try to figure out the long-term results the person needs to meet major goals.@@@@1@15@@oe@2-2-2013
21564024@unknown@formal@none@1@S@And they eyeball types of risk that are not easily quantified.@@@@1@11@@oe@2-2-2013
21564025@unknown@formal@none@1@S@The portfolios of two hypothetical families, one a couple at retirement age and another a two-income couple at age 45, illustrate several types of risk that investors need to consider.@@@@1@30@@oe@2-2-2013
21564026@unknown@formal@none@1@S@For instance, the insured municipal bonds that dominate the older couple's portfolio were probably selected in large part for their low repayment risk.@@@@1@23@@oe@2-2-2013
21564027@unknown@formal@none@1@S@But they expose the holders to a lot of inflation risk and interest-rate risk.@@@@1@14@@oe@2-2-2013
21564028@unknown@formal@none@1@S@The younger couple's stockholdings involve more risk than a diversified stock portfolio because the bulk of the money is in a single issue.@@@@1@23@@oe@2-2-2013
21564029@unknown@formal@none@1@S@Note that the younger couple's portfolio has a higher expected annual return, 10.1% vs. 8.8%, as calculated by Seidman Financial Services, which is the financial-planning affiliate of BDO Seidman.@@@@1@29@@oe@2-2-2013
21564030@unknown@formal@none@1@S@That largely reflects the heavy stockholdings.@@@@1@6@@oe@2-2-2013
21564031@unknown@formal@none@1@S@But one price paid for the higher expected return is greater short-term volatility, as reflected in the higher standard deviation that Seidman estimates for the younger couple's portfolio.@@@@1@28@@oe@2-2-2013
21564032@unknown@formal@none@1@S@(Here's how to interpret a standard deviation figure: Take the expected return and add one standard deviation to it.@@@@1@19@@oe@2-2-2013
21564033@unknown@formal@none@1@S@Then take the expected return and subtract one standard deviation.@@@@1@10@@oe@2-2-2013
21564034@unknown@formal@none@1@S@In two of three years, the actual result should fall within that range if all the assumptions were accurate.@@@@1@19@@oe@2-2-2013
21564035@unknown@formal@none@1@S@Then add and subtract two standard deviations to get a wider range.@@@@1@12@@oe@2-2-2013
21564036@unknown@formal@none@1@S@There's a 95% probability any year's result will fall in the range.)@@@@1@12@@oe@2-2-2013
21564037@unknown@formal@none@1@S@Of course, the greater volatility of the younger couple's portfolio doesn't necessarily mean those investments are riskier in terms of meeting the holders' long-term goals.@@@@1@25@@oe@2-2-2013
21564038@unknown@formal@none@1@S@Indeed, the older couple's portfolio could actually be riskier in that sense if the expected return won't generate enough dollars to meet their spending plans.@@@@1@25@@oe@2-2-2013
21564039@unknown@formal@none@1@S@"They may feel emotionally secure now because they are not heavily in the stock market," says John H. Cammack, a financial planner with Alexandra Armstrong Advisors Inc. in Washington.@@@@1@29@@oe@2-2-2013
21564040@unknown@formal@none@1@S@"But they may pay a price 10 or 20 years in the future."@@@@1@13@@oe@2-2-2013
21564041@unknown@formal@none@1@S@Ms. Slater reports on personal finance from The Wall Street Journal's New York bureau.@@@@1@14@@oe@2-2-2013
21564042@unknown@formal@none@1@S@When it comes to investing, trying to weigh risk and reward can seem like throwing darts blindfolded: Investors don't know the actual returns that securities will deliver, or the ups and downs that will occur along the way.@@@@1@38@@oe@2-2-2013
21564043@unknown@formal@none@1@S@Looking to the past can provide some clues.@@@@1@8@@oe@2-2-2013
21564044@unknown@formal@none@1@S@Over several decades, for instance, investors who put up with the stock market's gyrations earned returns far in excess of those on bonds and "cash" investments like Treasury bills.@@@@1@29@@oe@2-2-2013
21564045@unknown@formal@none@1@S@But while history can suggest what is reasonable to expect there's no guarantee that the past will repeat itself.@@@@1@19@@oe@2-2-2013
21564046@unknown@formal@none@1@S@For instance, some analysts believe bond returns and volatility have moved permanently closer to those of the stock market.@@@@1@19@@oe@2-2-2013
21564047@unknown@formal@none@1@S@And returns on cash investments may continue to exceed inflation by a wider margin than they did over the long-term past.@@@@1@21@@oe@2-2-2013
21564048@unknown@formal@none@1@S@Portfolio A: Retired couple, age 65; $400,000 portfolio.@@@@1@8@@oe@2-2-2013
21564049@unknown@formal@none@1@S@Portfolio B: Two-income couple, age 45; $150,000 portfolio.@@@@1@8@@oe@2-2-2013
21565001@unknown@formal@none@1@S@A letter from Senator John Kerry chides us today for implying that he had "flip-flopped" on Manuel Noriega.@@@@1@18@@oe@2-2-2013
21565002@unknown@formal@none@1@S@He correctly says he has been down on Noriega for some time, hence his criticism of administration mishandling of the attempted coup.@@@@1@22@@oe@2-2-2013
21565003@unknown@formal@none@1@S@Our October 12 editorial should have been more precise.@@@@1@9@@oe@2-2-2013
21565004@unknown@formal@none@1@S@It meant to convey our hope that the Senator and other members of the congressional left are broadening their dislike of Noriega to include other notorious Central American drug runners.@@@@1@30@@oe@2-2-2013
21565005@unknown@formal@none@1@S@The Sandinistas of Nicaragua, for example, also are part of the Castro-Medellin cartel nexus.@@@@1@14@@oe@2-2-2013
21565006@unknown@formal@none@1@S@In his letter and on the basis of his losing vote Tuesday against U.S. aid for the Nicaraguan opposition, Senator Kerry makes clear he has not made that intellectual leap.@@@@1@30@@oe@2-2-2013
21565007@unknown@formal@none@1@S@We were wrong.@@@@1@3@@oe@2-2-2013
21566001@unknown@formal@none@1@S@THROUGHOUT THE 1980s, investors have been looking for creative alternatives to traditional modes of financial planning.@@@@1@16@@oe@2-2-2013
21566002@unknown@formal@none@1@S@Capital has been democratized, and people want in.@@@@1@8@@oe@2-2-2013
21566003@unknown@formal@none@1@S@Too often, however, small investors are left with the same stale solutions that appealed to previous generations of fiduciary strategists.@@@@1@20@@oe@2-2-2013
21566004@unknown@formal@none@1@S@Now a startling new approach is available to building your financial portfolio without undue risk, without extensive planning and without hurting your life style one bit!@@@@1@26@@oe@2-2-2013
21566005@unknown@formal@none@1@S@This is particularly good news for those who hate risk, who are incapable of doing extensive amounts of planning and who refuse to see their life styles hurt in any way.@@@@1@31@@oe@2-2-2013
21566006@unknown@formal@none@1@S@You know who you are.@@@@1@5@@oe@2-2-2013
21566007@unknown@formal@none@1@S@My revolutionary system is also useful for those who have tried customary forms of growing their currency cushion.@@@@1@18@@oe@2-2-2013
21566008@unknown@formal@none@1@S@Like all Americans seeking chronic prosperity, I do find it necessary to plunge certain funds into conservative monetary tools, if only to assuage my father-in-law, who believes in such things.@@@@1@30@@oe@2-2-2013
21566009@unknown@formal@none@1@S@So throughout the decade I have maintained my share of individual retirement accounts and CDs, and tinkered with stocks, bonds and mutual funds, as well as preserving my necessary position in the residential real-estate market.@@@@1@35@@oe@2-2-2013
21566010@unknown@formal@none@1@S@Return on this fine portfolio has been modest when it has not been negative.@@@@1@14@@oe@2-2-2013
21566011@unknown@formal@none@1@S@Figure 1 demonstrates the performance of those businesses I've invested in during this prosperous decade (see accompanying illustration -- WSJ Oct. 20, 1989).@@@@1@23@@oe@2-2-2013
21566012@unknown@formal@none@1@S@Oil-related properties suffered a huge decline until I divested myself of all such stocks in 1985, at which point the industry, while not lighting up any Christmas trees, began a slow recovery.@@@@1@32@@oe@2-2-2013
21566013@unknown@formal@none@1@S@Likewise, mutual funds remained relatively flat until I made what was, for me, a serious investment.@@@@1@16@@oe@2-2-2013
21566014@unknown@formal@none@1@S@By 1987, these properties were in a tailspin, causing my broker at Pru-Bache to remark that she'd "never seen anything like it."@@@@1@22@@oe@2-2-2013
21566015@unknown@formal@none@1@S@Concerned for her state of mind, I dropped them -- and the market instantly began its steady climb back to health.@@@@1@21@@oe@2-2-2013
21566016@unknown@formal@none@1@S@Perhaps most dramatic was the performance of the metropolitan New York real-estate market, which was booming until I entered it in late 1988, at which time it posted the first negative compound annual growth rate in years.@@@@1@37@@oe@2-2-2013
21566017@unknown@formal@none@1@S@Disgusted, I cast around for a different way to plan my asset distribution, and with hardly any heavy breathing the answer struck me: I was doing it already!@@@@1@28@@oe@2-2-2013
21566018@unknown@formal@none@1@S@We've all got money to spend, some of it clearly disposable since we keep disposing of it.@@@@1@17@@oe@2-2-2013
21566019@unknown@formal@none@1@S@Bank it?@@@@1@2@@oe@2-2-2013
21566020@unknown@formal@none@1@S@Not really!@@@@1@2@@oe@2-2-2013
21566021@unknown@formal@none@1@S@Sock it away in long-term instruments?@@@@1@6@@oe@2-2-2013
21566022@unknown@formal@none@1@S@Nonsense!@@@@1@1@@oe@2-2-2013
21566023@unknown@formal@none@1@S@Daily living is the best possible investment!@@@@1@7@@oe@2-2-2013
21566024@unknown@formal@none@1@S@Your priorities may be different, but here in Figure 2 is where I've chosen to build for the future: personal space; automotive pursuits; children's toys; gardening equipment, bulbs and shrubs; and finally, entertainment, perhaps the best investment of all.@@@@1@39@@oe@2-2-2013
21566025@unknown@formal@none@1@S@All have paid off for me in double-digit annual growth and continue to provide significant potential.@@@@1@16@@oe@2-2-2013
21566026@unknown@formal@none@1@S@At least, according to my calculations.@@@@1@6@@oe@2-2-2013
21566027@unknown@formal@none@1@S@Personal space (Figure 3) has grown 35% annually over the course of the decade, a performance that would compare positively with an investment in, say, synthetic-leather products for the interiors of cold-weather vehicles, which my cousin got into and sort of regrets to this day.@@@@1@45@@oe@2-2-2013
21566028@unknown@formal@none@1@S@The assortment of expensive children's toys that I have purchased wisely at a host of discount-toy brokerage firms (Figure 4) has increased handsomely in total asset value far beyond any personal investment except, perhaps, for my record collection, whose worth, I think it's safe to say, is incalculable.@@@@1@48@@oe@2-2-2013
21566029@unknown@formal@none@1@S@Continued investment in my 1984 subcompact has been part of my strategy (Figure 5), with present annual contributions now equaling more than 60% of the car's original value.@@@@1@28@@oe@2-2-2013
21566030@unknown@formal@none@1@S@According to my calculations, these outlays should have brought the value of my sedan to more than $22,000 on the open market (Figure 6), where I plan to offer it shortly.@@@@1@31@@oe@2-2-2013
21566031@unknown@formal@none@1@S@Expansion of my living space has produced an obvious need for maintenance and construction of suitable lawns, shrubs and bushes fitting to its suburban locale.@@@@1@25@@oe@2-2-2013
21566032@unknown@formal@none@1@S@I have thus committed sufficient personal outlay to ensure that my grounds and lodgings will never be short of greens and flowers.@@@@1@22@@oe@2-2-2013
21566033@unknown@formal@none@1@S@My initial stake in this blooming enterprise has grown tenfold, according to my conservative calculations.@@@@1@15@@oe@2-2-2013
21566034@unknown@formal@none@1@S@At the same time, my share in a wide variety of entertainment pursuits has given perhaps the most dramatic demonstration of the benefits of creative personal financial planning.@@@@1@28@@oe@2-2-2013
21566035@unknown@formal@none@1@S@Over the course of the decade, for instance, my return on investment in the area of poker alone (Figures 7A and 7B) has been most impressive, showing bodacious annual expansion with -- given the way my associates play -- no sign of abatement into the 1990s and beyond.@@@@1@48@@oe@2-2-2013
21566036@unknown@formal@none@1@S@With this personal strategy firmly in place, I look forward to years of fine life-style investments and increasing widespread leverage.@@@@1@20@@oe@2-2-2013
21566037@unknown@formal@none@1@S@My kids' college education looms as perhaps the greatest future opportunity for spending, although I'll probably have to cash in their toy portfolio to take advantage of it.@@@@1@28@@oe@2-2-2013
21566038@unknown@formal@none@1@S@But with every step I take, I'm building wealth.@@@@1@9@@oe@2-2-2013
21566039@unknown@formal@none@1@S@You can, too, if you, like me, refuse to bite the bullet.@@@@1@12@@oe@2-2-2013
21566040@unknown@formal@none@1@S@So go out there and eat that debt.@@@@1@8@@oe@2-2-2013
21566041@unknown@formal@none@1@S@You're right there in the mainstream of American business, building value on the back of insupportable expenditures.@@@@1@17@@oe@2-2-2013
21566042@unknown@formal@none@1@S@Henry Kravis, watch out!@@@@1@4@@oe@2-2-2013
21566043@unknown@formal@none@1@S@Mr. Schwartz is a business executive and writer in New York.@@@@1@11@@oe@2-2-2013
21567001@unknown@formal@none@1@S@WHEN JAMES SCHWARTZ was just a lad his father gave him a piece of career advice.@@@@1@16@@oe@2-2-2013
21567002@unknown@formal@none@1@S@"He told me to choose an area where just by being mediocre I could be great," recalls Mr. Schwartz, now 40.@@@@1@21@@oe@2-2-2013
21567003@unknown@formal@none@1@S@He tried management consulting, traded in turquoise for a while, and even managed professional wrestlers.@@@@1@15@@oe@2-2-2013
21567004@unknown@formal@none@1@S@Now he has settled into a career that fits the bill -- financial planning.@@@@1@14@@oe@2-2-2013
21567005@unknown@formal@none@1@S@It should be noted that Mr. Schwartz, who operates out of Englewood, Colo., is a puckish sort who likes to give his colleagues the needle.@@@@1@25@@oe@2-2-2013
21567006@unknown@formal@none@1@S@But in this case the needle has a very sharp point.@@@@1@11@@oe@2-2-2013
21567007@unknown@formal@none@1@S@Though it's probably safe to assume that the majority of financial planners are honest and even reasonably competent, the fact remains that, as one wag puts it, "anybody who can fog a mirror" can call himself a financial planner.@@@@1@39@@oe@2-2-2013
21567008@unknown@formal@none@1@S@Planners now influence the investment of several hundred billion dollars, but in effect they operate in the dark.@@@@1@18@@oe@2-2-2013
21567009@unknown@formal@none@1@S@There is no effective regulation of planners, no accepted standard for admission into their ranks -- a dog got into one trade group -- no way to assess their performance, no way even to know how many of them there are (estimates range from 60,000 to 450,000).@@@@1@47@@oe@2-2-2013
21567010@unknown@formal@none@1@S@All anyone need do is hang up a shingle and start planning.@@@@1@12@@oe@2-2-2013
21567011@unknown@formal@none@1@S@So it should come as no shock that the profession, if that's what it is, has attracted a lot of people whose principal talents seem to be frittering away or flat-out stealing their clients' money.@@@@1@35@@oe@2-2-2013
21567012@unknown@formal@none@1@S@Alarmed, state and federal authorities are trying to devise ways to certify and regulate planners.@@@@1@15@@oe@2-2-2013
21567013@unknown@formal@none@1@S@Industry groups and reputable planners who are members of them want comprehensive standards, too; they're tired of seeing practitioners depicted collectively in the business press as dumber than chimpanzees and greedier than a herd of swine.@@@@1@36@@oe@2-2-2013
21567014@unknown@formal@none@1@S@But reform hasn't taken hold yet.@@@@1@6@@oe@2-2-2013
21567015@unknown@formal@none@1@S@"The industry is still pretty much in its Wild West days," says Scott Stapf, director of investor education for the North American Securities Administrators Association.@@@@1@25@@oe@2-2-2013
21567016@unknown@formal@none@1@S@An admittedly limited survey by NASAA, whose members are state securities-law regulators, found that between 1986 and 1988 "fraud and abuse" by financial planners cost 22,000 investors $400 million.@@@@1@29@@oe@2-2-2013
21567017@unknown@formal@none@1@S@The rogues' gallery of planners involved includes some convicted felons, a compulsive gambler or two, various businessmen who had planned their own previous ventures right into bankruptcy, and one man who scammed his wife's grandmother.@@@@1@35@@oe@2-2-2013
21567018@unknown@formal@none@1@S@What's more, the losses they and the others caused "are just what we are stumbling over," says Mr. Stapf, adding that the majority of misdeeds probably go undetected.@@@@1@28@@oe@2-2-2013
21567019@unknown@formal@none@1@S@So do just about all the losses that could be attributed to the sheer incompetence of unqualified planners.@@@@1@18@@oe@2-2-2013
21567020@unknown@formal@none@1@S@Nobody can estimate the toll, but John Gargan, a Tampa, Fla., planner and head of one trade group, the International Association of Registered Financial Planners, thinks the danger to investors from incompetence is "humongous," far greater than that from crookery.@@@@1@40@@oe@2-2-2013
21567021@unknown@formal@none@1@S@His group, like others, wants minimum standards applied to all who call themselves financial planners.@@@@1@15@@oe@2-2-2013
21567022@unknown@formal@none@1@S@Surveying all this, some people now think the best planner might be no planner at all.@@@@1@16@@oe@2-2-2013
21567023@unknown@formal@none@1@S@For most investors "the benefits just aren't worth the risks," says Barbara Roper, who follows financial-planning issues for the Consumer Federation of America, a consumer-advocacy organization based in Washington.@@@@1@29@@oe@2-2-2013
21567024@unknown@formal@none@1@S@She concedes that such a position is "unfair" to the thousands of conscientious and qualified people plying the trade, but as a consumer advocate she feels impelled to take it.@@@@1@30@@oe@2-2-2013
21567025@unknown@formal@none@1@S@She says her group used to give tips on selecting planners -- check educational and experience credentials, consult regulators and Better Business Bureaus -- but found that even some people who took these steps "were still getting ripped off."@@@@1@39@@oe@2-2-2013
21567026@unknown@formal@none@1@S@The bad news, however, hasn't been bad enough to kill the growing demand for financial planning.@@@@1@16@@oe@2-2-2013
21567027@unknown@formal@none@1@S@The Tax Reform Act of 1986, which eliminated many tax shelters peddled by planners, and the stock market crash the next year did cause a sharp slump in such demand, and many planners had to make an unplanned exit from the business.@@@@1@42@@oe@2-2-2013
21567028@unknown@formal@none@1@S@But membership in the International Association of Financial Planners (IAFP), the industry's biggest trade group, is still nearly triple what it was in 1980, and it's believed that the ranks of planners who don't belong to any group have soared as well.@@@@1@42@@oe@2-2-2013
21567029@unknown@formal@none@1@S@An estimated 10 million Americans are now using financial planners, and the pool of capital they influence is enormous.@@@@1@19@@oe@2-2-2013
21567030@unknown@formal@none@1@S@A survey of 54,000 of them conducted by the IAFP in April showed that these practitioners alone had controlled or guided the investment of $154 billion of their clients' money in the previous 12 months.@@@@1@35@@oe@2-2-2013
21567031@unknown@formal@none@1@S@The sheer number of planners makes the business extremely difficult, if not impossible, to regulate.@@@@1@15@@oe@2-2-2013
21567032@unknown@formal@none@1@S@Even the minority of them who must register with the Securities and Exchange Commission as "investment advisers" -- people who are in the business of counseling others on the buying and selling of securities specifically -- have been enough to swamp the agency's capacity.@@@@1@44@@oe@2-2-2013
21567033@unknown@formal@none@1@S@The SEC has only about 200 staffers assigned to keep tabs on investment advisers -- about the same as in 1980 -- even though the number of advisers has tripled to about 15,000 over the past decade.@@@@1@37@@oe@2-2-2013
21567034@unknown@formal@none@1@S@Currently, a registered investment adviser can expect an SEC audit only once every 12 years.@@@@1@15@@oe@2-2-2013
21567035@unknown@formal@none@1@S@A lot of bad things can happen in 12 years.@@@@1@10@@oe@2-2-2013
21567036@unknown@formal@none@1@S@"It doesn't take a rocket scientist to figure out our problem," says Kathryn McGrath, director of the SEC's division of investment management.@@@@1@22@@oe@2-2-2013
21567037@unknown@formal@none@1@S@So the SEC has proposed to Congress that much of the job of oversight be turned over to an industry-funded, self-regulatory organization patterned on the National Association of Securities Dealers, which operates in the brokerage business.@@@@1@36@@oe@2-2-2013
21567038@unknown@formal@none@1@S@Such an organization could, among other things, set minimum standards for competence, ethics and finances and punish those investment advisers who broke the rules.@@@@1@24@@oe@2-2-2013
21567039@unknown@formal@none@1@S@The proposal has set off a lively debate within an industry that was far from united to begin with.@@@@1@19@@oe@2-2-2013
21567040@unknown@formal@none@1@S@Mr. Schwartz, the puckish planner from Englewood, Colo., says that allowing the business to police itself would be "like putting Dracula in charge of the blood bank."@@@@1@27@@oe@2-2-2013
21567041@unknown@formal@none@1@S@Mr. Gargan, the Tampa planner who heads one trade group, favors simply assessing the industry and giving the money to the SEC to hire more staff.@@@@1@26@@oe@2-2-2013
21567042@unknown@formal@none@1@S@(Mr. Gargan's views are not greeted with wild enthusiasm over at the IAFP, the major industry organization.@@@@1@17@@oe@2-2-2013
21567043@unknown@formal@none@1@S@When the IAFP recently assembled other industry groups to discuss common standards that might be applied to planners, Mr. Gargan's group was excluded.@@@@1@23@@oe@2-2-2013
21567044@unknown@formal@none@1@S@That may be because Mr. Gargan, smarting at what he considered slurs on his membership standards made by the rival group, enrolled his dog, Beauregard, as a member of the IAFP.@@@@1@31@@oe@2-2-2013
21567045@unknown@formal@none@1@S@Then he sent the pooch's picture with the certificate of membership -- it was made out to "Boris `Bo' Regaard" -- to every newspaper he could think of.)@@@@1@28@@oe@2-2-2013
21567046@unknown@formal@none@1@S@The states have their own ideas about regulation and certification.@@@@1@10@@oe@2-2-2013
21567047@unknown@formal@none@1@S@NASAA, the organization of state securities regulators, is pushing for a model regulatory statute already adopted in eight states.@@@@1@19@@oe@2-2-2013
21567048@unknown@formal@none@1@S@It requires financial planners to register with states, pass competency tests and reveal to customers any conflicts of interest.@@@@1@19@@oe@2-2-2013
21567049@unknown@formal@none@1@S@The most common conflict involves compensation.@@@@1@6@@oe@2-2-2013
21567050@unknown@formal@none@1@S@NASAA estimates that nearly 90% of planners receive some or all of their income from sales commissions on securities, insurance and other financial products they recommend.@@@@1@26@@oe@2-2-2013
21567051@unknown@formal@none@1@S@The issue: Is the planner putting his clients into the best investments, or the ones that garner the biggest commissions?@@@@1@20@@oe@2-2-2013
21567052@unknown@formal@none@1@S@In 1986 the New York attorney general's office got an order from a state court in Albany shutting down First Meridian Corp., an Albany financial-planning firm that had invested $55 million on behalf of nearly 1,000 investors.@@@@1@37@@oe@2-2-2013
21567053@unknown@formal@none@1@S@In its notice of action, the attorney general said the company had promised to put clients into "balanced" investment portfolios; instead, the attorney general alleged, the company consistently shoved unwary customers into high-risk investments in paintings, coins and Florida condos.@@@@1@40@@oe@2-2-2013
21567054@unknown@formal@none@1@S@Those investments paid big commissions to First Meridian, payments investors were never told about, the attorney general alleged.@@@@1@18@@oe@2-2-2013
21567055@unknown@formal@none@1@S@Investors were further assured that only those with a minimun net worth would be accepted.@@@@1@15@@oe@2-2-2013
21567056@unknown@formal@none@1@S@In practice, the attorney general alleged in an affidavit, if an investor had access to cash "the chances of being turned down by First Meridian were about as probable as being rejected by the Book-of-the-Month Club."@@@@1@36@@oe@2-2-2013
21567057@unknown@formal@none@1@S@And, the attorney general added, First Meridian's president, Roger V. Sala, portrayed himself as a "financial expert" when his qualifications largely consisted of a high-school diploma, work as a real-estate and insurance salesman, and a stint as supervisor at a highway toll booth.@@@@1@43@@oe@2-2-2013
21567058@unknown@formal@none@1@S@First Meridian and its officials are currently under investigation for possible criminal wrongdoing, according to a spokeswoman for the attorney general.@@@@1@21@@oe@2-2-2013
21567059@unknown@formal@none@1@S@Harry Manion, Mr. Sala's attorney, says his client denies any wrongdoing and adds that the attorney general's contentions about First Meridian's business practices are incorrect.@@@@1@25@@oe@2-2-2013
21567060@unknown@formal@none@1@S@As for Mr. Sala's qualifications, "the snooty attorneys for the state of New York decided Mr. Sala wasn't qualified because he didn't have a Harvard degree," says Mr. Manion.@@@@1@29@@oe@2-2-2013
21567061@unknown@formal@none@1@S@Civil suits against planners by clients seeking recovery of funds are increasingly common.@@@@1@13@@oe@2-2-2013
21567062@unknown@formal@none@1@S@Two such actions, both filed earlier this year in Georgia state court in Atlanta, could be particularly embarrassing to the industry: both name J. Chandler Peterson, an Atlanta financial planner who is a founder and past chairman of the IAFP, as defendant.@@@@1@42@@oe@2-2-2013
21567063@unknown@formal@none@1@S@One suit, filed by more than three dozen investors, charges that Mr. Peterson misused much of the $9.7 million put into a limited partnership that he operated and promoted, spending some of it to pay his own legal bills and to invest in other companies in which he had an interest.@@@@1@51@@oe@2-2-2013
21567064@unknown@formal@none@1@S@Those companies, in turn, paid Mr. Peterson commissions and fees, the suit alleges.@@@@1@13@@oe@2-2-2013
21567065@unknown@formal@none@1@S@The other suit was filed by two men in a dispute over $100,000 investments each says he made with Mr. Peterson as part of an effort to purchase the Bank of Scottsdale in Scottsdale, Ariz.@@@@1@35@@oe@2-2-2013
21567066@unknown@formal@none@1@S@One plaintiff, a doctor, testified in an affidavit that he also gave Mr. Peterson $50,000 to join a sort of investment club which essentially gave the physician "the privilege of making additional investments" with Mr. Peterson.@@@@1@36@@oe@2-2-2013
21567067@unknown@formal@none@1@S@In affidavits, each plaintiff claims Mr. Peterson promised the bank purchase would be completed by the end of 1988 or the money returned.@@@@1@23@@oe@2-2-2013
21567068@unknown@formal@none@1@S@Mr. Peterson took the plaintiffs' and other investors' money to a meeting of the bank's directors.@@@@1@16@@oe@2-2-2013
21567069@unknown@formal@none@1@S@Wearing a business suit and western-style hat and boots, he opened up his briefcase and dumped $1 million in cash on a table in front of the directors, says Myron Diebel, the bank's president.@@@@1@34@@oe@2-2-2013
21567070@unknown@formal@none@1@S@"He said he wanted to show the color of his money," recalls Mr. Diebel.@@@@1@14@@oe@2-2-2013
21567071@unknown@formal@none@1@S@Bank officials, however, showed him the door, and the sale never came off.@@@@1@13@@oe@2-2-2013
21567072@unknown@formal@none@1@S@According to the suit, Mr. Peterson has yet to return the plaintiffs' investment.@@@@1@13@@oe@2-2-2013
21567073@unknown@formal@none@1@S@They want it back.@@@@1@4@@oe@2-2-2013
21567074@unknown@formal@none@1@S@Mr. Peterson declines to comment on specific allegations in the two suits, saying he prefers to save such responses for court.@@@@1@21@@oe@2-2-2013
21567075@unknown@formal@none@1@S@But he does say that all of his activities have been "entirely proper."@@@@1@13@@oe@2-2-2013
21567076@unknown@formal@none@1@S@On the suit by the limited partners, he says he is considering a defamation suit against the plaintiffs.@@@@1@18@@oe@2-2-2013
21567077@unknown@formal@none@1@S@The suit, he adds, "is almost in the nature of a vendetta by a handful of disgruntled people."@@@@1@18@@oe@2-2-2013
21567078@unknown@formal@none@1@S@Rearding the suit over the bank bid, Mr. Peterson says it is filled with "inflammatory language and half truths."@@@@1@19@@oe@2-2-2013
21567079@unknown@formal@none@1@S@He declines to go into specifics.@@@@1@6@@oe@2-2-2013
21567080@unknown@formal@none@1@S@Mr. Peterson says the suits against him are less a measure of his work than they are a "sign of the times" in which people generally are more prone to sue.@@@@1@31@@oe@2-2-2013
21567081@unknown@formal@none@1@S@"I don't know anybody in the industry who hasn't experienced litigation," he says.@@@@1@13@@oe@2-2-2013
21567082@unknown@formal@none@1@S@Mr. Peterson also says he doesn't consider himself a financial planner anymore.@@@@1@12@@oe@2-2-2013
21567083@unknown@formal@none@1@S@He now calls himself an "investment banker."@@@@1@7@@oe@2-2-2013
21567084@unknown@formal@none@1@S@In many scams or alleged scams involving planners, it's plain that only a modicum of common sense on the part of the investors would have kept them out of harm's way.@@@@1@31@@oe@2-2-2013
21567085@unknown@formal@none@1@S@Using it, wouldn't a proessional hesitate to pay tens of thousands of dollars just for a chance to invest witha planner?@@@@1@21@@oe@2-2-2013
21567086@unknown@formal@none@1@S@Other cases go to show that an old saw still applies: If it sounds too good to be true, it probably is.@@@@1@22@@oe@2-2-2013
21567087@unknown@formal@none@1@S@Certificates of deposit don't pay 23% a year, for example, but that didn't give pause to clients of one Alabama planner.@@@@1@21@@oe@2-2-2013
21567088@unknown@formal@none@1@S@Now they're losers and he's in jail in Mobile County.@@@@1@10@@oe@2-2-2013
21567089@unknown@formal@none@1@S@CDs yielding 40% are even more implausible -- especially when the issuing "bank" in the Marshall Islands is merely a mail drop watched over by a local gas-station operator -- but investors fell for that one too.@@@@1@37@@oe@2-2-2013
21567090@unknown@formal@none@1@S@And the Colorado planner who promised to make some of his clients millionaires on investments of as litle as $100?@@@@1@20@@oe@2-2-2013
21567091@unknown@formal@none@1@S@Never mind.@@@@1@2@@oe@2-2-2013
21567092@unknown@formal@none@1@S@You already know the answer.@@@@1@5@@oe@2-2-2013
21567093@unknown@formal@none@1@S@Mr. Emshwiller is a staff reporter in The Wall Street Journal's Los Angeles bureau.@@@@1@14@@oe@2-2-2013
21568001@unknown@formal@none@1@S@At the ritzy Fashion Island Shopping Center, the tanned and elegant ladies of this wealthy Southern California beach community disembark from their Mercedes-Benzes and BMWs for another day of exercising their credit cards.@@@@1@33@@oe@2-2-2013
21568002@unknown@formal@none@1@S@They root among the designer offerings at Neiman-Marcus and Bullocks Wilshire.@@@@1@11@@oe@2-2-2013
21568003@unknown@formal@none@1@S@They stroll through the marble-encased corridors of the Atrium Court.@@@@1@10@@oe@2-2-2013
21568004@unknown@formal@none@1@S@They graze at the Farmers Market, a combination gourmet food court and grocery store, while a pianist accompanies the noon fashion show with a selection of dreamy melodies.@@@@1@28@@oe@2-2-2013
21568005@unknown@formal@none@1@S@"The beautiful look of wool," croons the show's narrator, "slightly Victorian in its influence...."@@@@1@14@@oe@2-2-2013
21568006@unknown@formal@none@1@S@Meanwhile, in the squat office buildings that ring Fashion Island, the odds are good that someone is getting fleeced.@@@@1@19@@oe@2-2-2013
21568007@unknown@formal@none@1@S@Law-enforcement authorities say that at any given time, a host of fraudulent telemarketing operations mingle with the many legitimate businesses here.@@@@1@21@@oe@2-2-2013
21568008@unknown@formal@none@1@S@"They seem to like these industrial parks," says Kacy McClelland, a postal inspector who specializes in mail fraud.@@@@1@18@@oe@2-2-2013
21568009@unknown@formal@none@1@S@"We call them fraud farms."@@@@1@5@@oe@2-2-2013
21568010@unknown@formal@none@1@S@Welcome to that welter of contradictions known as Newport Beach.@@@@1@10@@oe@2-2-2013
21568011@unknown@formal@none@1@S@This city of more than 70,000 is known for sunshine, yachts and rich residents.@@@@1@14@@oe@2-2-2013
21568012@unknown@formal@none@1@S@It is also known as the fraud capital of the U.S., dubbed by investigators and the media as the "Cote de Fraud".@@@@1@22@@oe@2-2-2013
21568013@unknown@formal@none@1@S@How does a community famous for its high living end up as a haven for low-lifes?@@@@1@16@@oe@2-2-2013
21568014@unknown@formal@none@1@S@Clearly, the existence of the former lures the latter.@@@@1@9@@oe@2-2-2013
21568015@unknown@formal@none@1@S@The places renowned for breeding bunco, like the Miami neighborhood known as the "Maggot Mile" and Las Vegas's flashy strip of casinos, invariably offer fast cars, high rollers, glamorous women and lots of sunshine.@@@@1@34@@oe@2-2-2013
21568016@unknown@formal@none@1@S@You don't hear much about unusual concentrations of fraud in Green Bay or Buffalo.@@@@1@14@@oe@2-2-2013
21568017@unknown@formal@none@1@S@Con men hate snow.@@@@1@4@@oe@2-2-2013
21568018@unknown@formal@none@1@S@Newport Beach fits the scam artists' specifications perfectly.@@@@1@8@@oe@2-2-2013
21568019@unknown@formal@none@1@S@What more could a con man in search of the easy life ask for?@@@@1@14@@oe@2-2-2013
21568020@unknown@formal@none@1@S@Nothing seems hard here.@@@@1@4@@oe@2-2-2013
21568021@unknown@formal@none@1@S@The breezes are soft, the waves lap gently and the palm trees sway lazily.@@@@1@14@@oe@2-2-2013
21568022@unknown@formal@none@1@S@Nightlife is plentiful.@@@@1@3@@oe@2-2-2013
21568023@unknown@formal@none@1@S@Moreover, ostentation is appreciated.@@@@1@4@@oe@2-2-2013
21568024@unknown@formal@none@1@S@The median price of homes is $547,000; more than 9,000 vessels fill what the chamber of commerce calls the nation's largest pleasure-boat harbor.@@@@1@23@@oe@2-2-2013
21568025@unknown@formal@none@1@S@"Blondes, cocaine and Corvettes," mutters Mr. McClelland.@@@@1@7@@oe@2-2-2013
21568026@unknown@formal@none@1@S@"That's what they're after."@@@@1@4@@oe@2-2-2013
21568027@unknown@formal@none@1@S@The rich image of Newport Beach also helps lend the con artists' operation an air of respectability.@@@@1@17@@oe@2-2-2013
21568028@unknown@formal@none@1@S@"One reason they use Newport Beach is that it sounds swankier than most addresses," says David Katz, a U.S. attorney who, until recently, headed a multi-agency Southern California fraud task force.@@@@1@31@@oe@2-2-2013
21568029@unknown@formal@none@1@S@"Newport Beach is known in Rhode Island for having a lot of rich people."@@@@1@14@@oe@2-2-2013
21568030@unknown@formal@none@1@S@No wonder all kinds of big-time scams have flourished here, from phony tax-sheltered Bible sales to crooked car dealers to bogus penny-stock traders.@@@@1@23@@oe@2-2-2013
21568031@unknown@formal@none@1@S@But above all, this is the national headquarters for boiler-room operators, those slick-talking snake-oil salesmen who use the telephone to extract money from the gullible and the greedy and then vanish.@@@@1@31@@oe@2-2-2013
21568032@unknown@formal@none@1@S@Because only a fraction of them are ever prosecuted, nobody really knows how much money bogus telemarketing operators really harvest.@@@@1@20@@oe@2-2-2013
21568033@unknown@formal@none@1@S@"I've heard that there is $40 billion taken in nationwide by boiler rooms every year," Mr. McClelland says.@@@@1@18@@oe@2-2-2013
21568034@unknown@formal@none@1@S@"If that's true, Orange County has to be at least 10% of that."@@@@1@13@@oe@2-2-2013
21568035@unknown@formal@none@1@S@And most of the truly big scams in Orange County seem to originate in Newport Beach or one of the other well-heeled communities that surround this sliver-like city that hooks around a point of land on the California coast south of Los Angeles.@@@@1@43@@oe@2-2-2013
21568036@unknown@formal@none@1@S@In fact, sophisticated big-bucks boiler-room scams are known generically among law-enforcement types as "Newport Beach" operations.@@@@1@16@@oe@2-2-2013
21568037@unknown@formal@none@1@S@That contrasts with the penny-ante sales of things such as pen-and-pencil sets and office supplies that are known as "Hollywood" scams.@@@@1@21@@oe@2-2-2013
21568038@unknown@formal@none@1@S@Newport Beach telemarketers concentrate on precious metals and oil-leasing deals that typically cost thousands of dollars a shot.@@@@1@18@@oe@2-2-2013
21568039@unknown@formal@none@1@S@The investors range from elderly widows to affluent professionals.@@@@1@9@@oe@2-2-2013
21568040@unknown@formal@none@1@S@In one ingenious recent example of a Newport Beach boiler room, prospective investors in Capital Trust Inc. were allegedly told that their investment in precious metals was insured against losses "caused by employees due to dishonesty, destruction or disappearance," according to an indictment handed up by a federal grand jury in Los Angeles last month.@@@@1@55@@oe@2-2-2013
21568041@unknown@formal@none@1@S@Thus falsely reassured, investors sent $11.4 million to the Newport Beach company, most of which was diverted to unauthorized uses, the indictment charges.@@@@1@23@@oe@2-2-2013
21568042@unknown@formal@none@1@S@Douglas Jones, an attorney representing Richard O. Kelly Sr., the chairman and president of Capital Trust, says his client denies that there was any attempt to defraud investors.@@@@1@28@@oe@2-2-2013
21568043@unknown@formal@none@1@S@"There were some business deals that went bad," Mr. Jones says, "but no intent to defraud."@@@@1@16@@oe@2-2-2013
21568044@unknown@formal@none@1@S@Newport Beach operations differ from the Hollywood boiler rooms in style as well as in dollars.@@@@1@16@@oe@2-2-2013
21568045@unknown@formal@none@1@S@Traditionally, boiler rooms operate on the cheap, since few, if any, customers ever visit their offices.@@@@1@16@@oe@2-2-2013
21568046@unknown@formal@none@1@S@Indeed, the name derives from the tendency among telemarketing scammers to rent cheap basement space, near the boiler room.@@@@1@19@@oe@2-2-2013
21568047@unknown@formal@none@1@S@But, says Mr. Katz, the U.S. attorney, "the interesting thing about Newport Beach operations is that they give themselves the indulgence of beautiful offices, with plush furnishings.@@@@1@27@@oe@2-2-2013
21568048@unknown@formal@none@1@S@When we go there, it's quite different from these Hollywood places where the sandwiches are spread out on the table and the people are picking their noses."@@@@1@27@@oe@2-2-2013
21568049@unknown@formal@none@1@S@The Newport Beach operators also tend to indulge themselves privately.@@@@1@10@@oe@2-2-2013
21568050@unknown@formal@none@1@S@Investigators cite the case of Matthew Valentine, who is currently serving a six-year sentence at Lompoc Federal Prison for his role in Intech Investment Corp., which promised investors returns of as much as 625% on precious metals.@@@@1@37@@oe@2-2-2013
21568051@unknown@formal@none@1@S@Mr. Valentine, who pleaded guilty to five counts of fraud in federal court in Los Angeles, drove a leased Mercedes and lived in an expensive home on Lido Isle, an island in Newport's harbor, according to investigators.@@@@1@37@@oe@2-2-2013
21568052@unknown@formal@none@1@S@With the $3 million received from investors, he took frequent junkets with friends to exotic locales and leased an expensive BMW for his girlfriend, whom he met at the shop where he got his custom-tailored suits.@@@@1@36@@oe@2-2-2013
21568053@unknown@formal@none@1@S@"It's amazing the amount of money that goes up their nose, out to the dog track or to the tables in Las Vegas," Mr. Katz says.@@@@1@26@@oe@2-2-2013
21568054@unknown@formal@none@1@S@All this talk of boiler rooms and fraud is unnerving to the city's legitimate business element.@@@@1@16@@oe@2-2-2013
21568055@unknown@formal@none@1@S@Vincent M Ciavarella, regional manager of Property Management Systems, insists he doesn't know of any bogus telemarketers operating in the 1.6 million square feet of office space around Fashion Island that his company leases for Irvine Co., the owner and developer of the project.@@@@1@44@@oe@2-2-2013
21568056@unknown@formal@none@1@S@Mr. Ciavarella has rejected a few prospective tenants who provided "incomplete" financial information and acknowledges that illegitimate operators "are not easily detectable.@@@@1@22@@oe@2-2-2013
21568057@unknown@formal@none@1@S@" (Investigators stress that building owners are victims, too, since boiler rooms often leave without paying rent.)@@@@1@17@@oe@2-2-2013
21568058@unknown@formal@none@1@S@Richard Luehrs, president of the Newport Harbor Area Chamber of Commerce, calls boiler rooms a "negative we wish we could get rid of."@@@@1@23@@oe@2-2-2013
21568059@unknown@formal@none@1@S@Actually, "we don't get much negative publicity about this," he insists, "except for the press who write about it."@@@@1@19@@oe@2-2-2013
21568060@unknown@formal@none@1@S@Mr. Lancaster is deputy chief of The Wall Street Journal's Dallas bureau.@@@@1@12@@oe@2-2-2013
21569001@unknown@formal@none@1@S@YOU WENT to college and thought you got an education.@@@@1@10@@oe@2-2-2013
21569002@unknown@formal@none@1@S@Now you discover that you never learned the most important lesson: How to send your kids to college.@@@@1@18@@oe@2-2-2013
21569003@unknown@formal@none@1@S@True, when you went to college, there wasn't that much to learn.@@@@1@12@@oe@2-2-2013
21569004@unknown@formal@none@1@S@Stick some money in an interest-bearing account and watch it grow.@@@@1@11@@oe@2-2-2013
21569005@unknown@formal@none@1@S@Now, investment salesmen say it's time to take some risks if you want the kind of returns that will buy your toddler a ticket to Prestige U. in 18 years.@@@@1@30@@oe@2-2-2013
21569006@unknown@formal@none@1@S@In short, throw away the passbook and go for the glory.@@@@1@11@@oe@2-2-2013
21569007@unknown@formal@none@1@S@The reason is cost.@@@@1@4@@oe@2-2-2013
21569008@unknown@formal@none@1@S@Nothing in the annals of tuition readied parents for the 1980s.@@@@1@11@@oe@2-2-2013
21569009@unknown@formal@none@1@S@Tuitions at private colleges rose 154% in the 10 years ended in June of this year; that's twice the 77% increase in consumer prices for the same period.@@@@1@28@@oe@2-2-2013
21569010@unknown@formal@none@1@S@A year at Harvard now goes for $19,395.@@@@1@8@@oe@2-2-2013
21569011@unknown@formal@none@1@S@By 2007, when this year's newborns hit campus, a four-year Ivy League sheepskin will cost $300,000, give or take a few pizzas-with-everything at exam time.@@@@1@25@@oe@2-2-2013
21569012@unknown@formal@none@1@S@Stanford, MIT and other utmosts will cost no less.@@@@1@9@@oe@2-2-2013
21569013@unknown@formal@none@1@S@So what's a parent to do?@@@@1@6@@oe@2-2-2013
21569014@unknown@formal@none@1@S@Some investment advisers are suggesting, in effect, a bet on a start-up investment pool -- maybe even on margin.@@@@1@19@@oe@2-2-2013
21569015@unknown@formal@none@1@S@Others prefer deep-discount zero-coupon bonds.@@@@1@5@@oe@2-2-2013
21569016@unknown@formal@none@1@S@Still others say, Why not take a chance on a high-octane growth fund?@@@@1@13@@oe@2-2-2013
21569017@unknown@formal@none@1@S@"You're not going to make it in a 5% bank account," says James Riepe, director of mutual funds at T. Rowe Price.@@@@1@22@@oe@2-2-2013
21569018@unknown@formal@none@1@S@To get the necessary growth, adds Murray Ruffel, a marketing official at the Financial Programs mutual-fund group, "you need to go to the stock market."@@@@1@25@@oe@2-2-2013
21569019@unknown@formal@none@1@S@In other words, a little volatility never hurt.@@@@1@8@@oe@2-2-2013
21569020@unknown@formal@none@1@S@It never hurt anyone, that is, unless the growth funds don't grow when you need them to.@@@@1@17@@oe@2-2-2013
21569021@unknown@formal@none@1@S@Or the zero-coupon bonds turn out not to have been discounted deeply enough to pay your kid's tuition.@@@@1@18@@oe@2-2-2013
21569022@unknown@formal@none@1@S@That's the dilemma for today's parent.@@@@1@6@@oe@2-2-2013
21569023@unknown@formal@none@1@S@Although many experts are advising risk, no one has a good answer for you if the risk doesn't pay off.@@@@1@20@@oe@2-2-2013
21569024@unknown@formal@none@1@S@Help may be on the way.@@@@1@6@@oe@2-2-2013
21569025@unknown@formal@none@1@S@The antitrust division of the Justice Department is investigating the oddly similar tuition charges and increases among the top schools.@@@@1@20@@oe@2-2-2013
21569026@unknown@formal@none@1@S@Fear of the price police could help cool things off in the 1990s.@@@@1@13@@oe@2-2-2013
21569027@unknown@formal@none@1@S@And then there's always State U.@@@@1@6@@oe@2-2-2013
21569028@unknown@formal@none@1@S@But parents' craving for a top-rated education for their children is growing like their taste for fancy wheels and vintage wine.@@@@1@21@@oe@2-2-2013
21569029@unknown@formal@none@1@S@Belatedly aware of public concern, lawmakers and financial middlemen are working overtime to create and sell college savings and investment schemes.@@@@1@21@@oe@2-2-2013
21569030@unknown@formal@none@1@S@Their message, explicit or implicit, is that a good college will cost so much by whenever you want it that the tried and true won't do anymore.@@@@1@27@@oe@2-2-2013
21569031@unknown@formal@none@1@S@Forget about Treasury bills or a money-market fund.@@@@1@8@@oe@2-2-2013
21569032@unknown@formal@none@1@S@The latest wave of marketing is instructive.@@@@1@7@@oe@2-2-2013
21569033@unknown@formal@none@1@S@Several outfits -- including the Financial Programs, Franklin, and T. Rowe Price mutual-fund groups and the Edward D. Jones brokerage house -- are advertising "college planner" tables and charts that tell you how much you need to put aside regularly.@@@@1@40@@oe@2-2-2013
21569034@unknown@formal@none@1@S@The calculations generally rely on an after-tax rate of return of 8% annually -- a rate historically obtainable by the individual in only one place, the stock market.@@@@1@28@@oe@2-2-2013
21569035@unknown@formal@none@1@S@Most of the mailers are free, but Denver-based Financial Programs sells, for $15, a version customized to the age of the child and the college of choice.@@@@1@27@@oe@2-2-2013
21569036@unknown@formal@none@1@S@The figures are shocking.@@@@1@4@@oe@2-2-2013
21569037@unknown@formal@none@1@S@To build a nest egg that would pay for Stanford when a current first-grader reaches college age, parents would need to set aside $773.94 a month -- for 12 years.@@@@1@30@@oe@2-2-2013
21569038@unknown@formal@none@1@S@They can cut this to $691.09 a month if the investing keeps up through college.@@@@1@15@@oe@2-2-2013
21569039@unknown@formal@none@1@S@And they can further reduce the monthly amount if they start saving earlier -- when mother and child come home from the hospital.@@@@1@23@@oe@2-2-2013
21569040@unknown@formal@none@1@S@Plugging a cheaper college into the formulas still doesn't generate an installment most people can live with.@@@@1@17@@oe@2-2-2013
21569041@unknown@formal@none@1@S@Using a recent average private-school cost of about $12,500 a year, T. Rowe Price's planner prescribes $450 monthly if the plan begins when the child is six.@@@@1@27@@oe@2-2-2013
21569042@unknown@formal@none@1@S@Since the formula assumes an 8% before-tax return in a mutual fund, there would also be $16,500 in taxes to pay over the 12 years.@@@@1@25@@oe@2-2-2013
21569043@unknown@formal@none@1@S@Not everyone is so pessimistic.@@@@1@5@@oe@2-2-2013
21569044@unknown@formal@none@1@S@"People are basically peddling a lot of fear," says Arthur Hauptman, a consultant to the American Council on Education in Washington.@@@@1@21@@oe@2-2-2013
21569045@unknown@formal@none@1@S@He takes issue with projections that don't factor in students' own contribution, which reduces most parents' burden substantially.@@@@1@18@@oe@2-2-2013
21569046@unknown@formal@none@1@S@Still, he says, "it's no bad thing" if all the marketing prods people into putting aside a little more.@@@@1@19@@oe@2-2-2013
21569047@unknown@formal@none@1@S@"The situation you want to avoid is having somebody not save anything and hope they'll be able to do it out of current income," he says.@@@@1@26@@oe@2-2-2013
21569048@unknown@formal@none@1@S@"That's crazy."@@@@1@2@@oe@2-2-2013
21569049@unknown@formal@none@1@S@His advice: Don't panic.@@@@1@4@@oe@2-2-2013
21569050@unknown@formal@none@1@S@Parents, he says, should aim at whatever regular investment sum they can afford.@@@@1@13@@oe@2-2-2013
21569051@unknown@formal@none@1@S@Half the amount that the investment tables suggest might be a good goal, he adds.@@@@1@15@@oe@2-2-2013
21569052@unknown@formal@none@1@S@That way, parents will reduce borrowings and outlays from current income when the time comes to pay tuition.@@@@1@18@@oe@2-2-2013
21569053@unknown@formal@none@1@S@Mr. Hauptman reckons that the best investment choice is mutual funds because they are managed and over time have nearly kept up with the broad stock averages.@@@@1@27@@oe@2-2-2013
21569054@unknown@formal@none@1@S@He favors either an all-stock fund or a balanced fund that mixes both stocks and bonds.@@@@1@16@@oe@2-2-2013
21569055@unknown@formal@none@1@S@In their anxiety, however, parents and other student benefactors are flocking to new schemes.@@@@1@14@@oe@2-2-2013
21569056@unknown@formal@none@1@S@They have laid out about $1 billion for so-called baccalaureate zero-coupon municipal bonds -- so far offered by Connecticut, Illinois, Virginia and eight other states.@@@@1@25@@oe@2-2-2013
21569057@unknown@formal@none@1@S@And they have bought about $500 million in prepaid-tuition plans, offered in Michigan, Florida and Wyoming.@@@@1@16@@oe@2-2-2013
21569058@unknown@formal@none@1@S@The prepaid plans take payment today -- usually at current tuitions or at a slight discount -- for a promise that tuition will be covered tomorrow.@@@@1@26@@oe@2-2-2013
21569059@unknown@formal@none@1@S@The baccalaureate bonds -- tax-free, offered in small denominations and usually containing a provision that they won't be called before maturity -- seem to be tailor-made for college savers.@@@@1@29@@oe@2-2-2013
21569060@unknown@formal@none@1@S@Like other zeros, they pay all their interest at maturity, meaning that buyers can time things so that their bonds pay off just when Junior graduates from high school.@@@@1@29@@oe@2-2-2013
21569061@unknown@formal@none@1@S@Their compounding effect is also alluring.@@@@1@6@@oe@2-2-2013
21569062@unknown@formal@none@1@S@In June, Virginia sold bonds for $268.98 that will pay $1,000 in 2009.@@@@1@13@@oe@2-2-2013
21569063@unknown@formal@none@1@S@But Richard Anderson, head of the Forum for College Financing Alternatives, at Columbia University, a research group partly financed by the federal government, says zeros are particularly ill-suited.@@@@1@28@@oe@2-2-2013
21569064@unknown@formal@none@1@S@Their price falls further than that of other bonds when inflation and interest rates kick up.@@@@1@16@@oe@2-2-2013
21569065@unknown@formal@none@1@S@That won't matter if they are held to maturity, but if, for any reason, the parents need to sell them before then, there could be a severe loss of principal.@@@@1@30@@oe@2-2-2013
21569066@unknown@formal@none@1@S@Had zeros been available in 1972 and had parents bought a face amount equal to four years' tuition at the time, aiming for their children's 1988 enrollment, they would have been left with only enough to pay for two years, Mr. Anderson figures.@@@@1@43@@oe@2-2-2013
21569067@unknown@formal@none@1@S@Most other bonds, however, would probably not have fared much better.@@@@1@11@@oe@2-2-2013
21569068@unknown@formal@none@1@S@The prepaid plans may be a good bet, provided the guarantee of future tuition is secure.@@@@1@16@@oe@2-2-2013
21569069@unknown@formal@none@1@S@Issuing states generally limit the guarantees to in-state institutions, however, and buyers get refunds without much interest if the children don't attend the specified schools.@@@@1@25@@oe@2-2-2013
21569070@unknown@formal@none@1@S@Two private groups are seeking Securities and Exchange Commission approval for plans that could be more broadly transferable.@@@@1@18@@oe@2-2-2013
21569071@unknown@formal@none@1@S@Mr. Anderson wants the prestige colleges to sponsor such a plan.@@@@1@11@@oe@2-2-2013
21569072@unknown@formal@none@1@S@The issue here may be the soundness of the guarantee.@@@@1@10@@oe@2-2-2013
21569073@unknown@formal@none@1@S@Prepayments, much like mutual-fund purchases, are pooled for investment.@@@@1@9@@oe@2-2-2013
21569074@unknown@formal@none@1@S@Sponsors are naturally counting on their ability to keep ahead of tuition inflation with investment returns.@@@@1@16@@oe@2-2-2013
21569075@unknown@formal@none@1@S@But buyers are essentially betting on a start-up investment fund with no track record -- and some have been encouraged to borrow to do so.@@@@1@25@@oe@2-2-2013
21569076@unknown@formal@none@1@S@One problem is that the Internal Revenue Service has decided that the investment earnings and gains of the sponsors' funds are taxable.@@@@1@22@@oe@2-2-2013
21569077@unknown@formal@none@1@S@The colleges, as educational institutions, had hoped that wouldn't be the case.@@@@1@12@@oe@2-2-2013
21569078@unknown@formal@none@1@S@Based on historical rates of return, Mr. Anderson reckons a 100% stock portfolio, indexed to the market, would have kept up with tuition and taxes in the 20th century.@@@@1@29@@oe@2-2-2013
21569079@unknown@formal@none@1@S@But sponsors might not pick the stocks that will match the market.@@@@1@12@@oe@2-2-2013
21569080@unknown@formal@none@1@S@And they're leaning more toward fixed income, whose returns after tax have trailed tuition increases.@@@@1@15@@oe@2-2-2013
21569081@unknown@formal@none@1@S@"I'm not sure they're going to make it work," says Mr. Anderson.@@@@1@12@@oe@2-2-2013
21569082@unknown@formal@none@1@S@What happens if the sponsors don't have the cash to pay the tuitions?@@@@1@13@@oe@2-2-2013
21569083@unknown@formal@none@1@S@Florida and Wyoming have backed up their guarantees with the full faith and credit of the state governments, meaning that taxpayers will pick up any slack.@@@@1@26@@oe@2-2-2013
21569084@unknown@formal@none@1@S@Not so Michigan.@@@@1@3@@oe@2-2-2013
21569085@unknown@formal@none@1@S@Its plan is set up as an independent agency.@@@@1@9@@oe@2-2-2013
21569086@unknown@formal@none@1@S@The state says there's no worry -- investment returns, combined with fees and the gains from unused plans, will provide all the cash it needs.@@@@1@25@@oe@2-2-2013
21569087@unknown@formal@none@1@S@Mr. Putka covers education from The Wall Street Journal's Boston bureau.@@@@1@11@@oe@2-2-2013
21569088@unknown@formal@none@1@S@If you start saving for your child's eduction on Jan. 1, 1990, here's the monthly sum you will need to invest to pay for four years at Yale, Notre Dame and University of Minnesota.@@@@1@34@@oe@2-2-2013
21569089@unknown@formal@none@1@S@Figures assume a 7% annual rise in tuition, fees, room and board and an 8% annual investment return.@@@@1@18@@oe@2-2-2013
21569090@unknown@formal@none@1@S@Note: These figures are only for mandatory charges and don't include books, transportation etc.@@@@1@14@@oe@2-2-2013
21569091@unknown@formal@none@1@S@*For in-state students@@@@1@3@@oe@2-2-2013
21569092@unknown@formal@none@1@S@Source: PaineWebber Inc.@@@@1@3@@oe@2-2-2013
21570001@unknown@formal@none@1@S@AMONG THE CATFISH farmers in the watery delta land of Humphreys County, Miss., Allen D. Tharp of Isola was one of the best known and most enterprising.@@@@1@27@@oe@2-2-2013
21570002@unknown@formal@none@1@S@He sold quarter-inch fingerlings to stock other farmers' ponds, and he bought back one-pound-or-so food-fish that he "live-hauled" to market along with his own whiskery crop.@@@@1@26@@oe@2-2-2013
21570003@unknown@formal@none@1@S@And he nearly always bought and sold for cash.@@@@1@9@@oe@2-2-2013
21570004@unknown@formal@none@1@S@Along the way, Mr. Tharp omitted a total of $1.5 million from his receipts reported on federal tax returns for three years.@@@@1@22@@oe@2-2-2013
21570005@unknown@formal@none@1@S@The returns landed in the hands of an Internal Revenue Service criminal investigator, Samuel James Baker.@@@@1@16@@oe@2-2-2013
21570006@unknown@formal@none@1@S@Mr. Baker interviewed or wrote to hundreds of catfish farmers, live-haulers and processors throughout the South before coming up with detailed estimates of purchases and sales, in pounds and dollars, by Mr. Tharp and others.@@@@1@35@@oe@2-2-2013
21570007@unknown@formal@none@1@S@Unknown to Mr. Tharp, he had fouled his net on a special IRS project to catch catfish farmers and haulers inclined to cheat on their taxes.@@@@1@26@@oe@2-2-2013
21570008@unknown@formal@none@1@S@Confronted with the evidence, Mr. Tharp pleaded guilty to one charge of filing a false return and was fined $5,000 and sentenced to 18 months in prison.@@@@1@27@@oe@2-2-2013
21570009@unknown@formal@none@1@S@He also owes a lot of back taxes, interest and civil fraud penalties.@@@@1@13@@oe@2-2-2013
21570010@unknown@formal@none@1@S@A lot of taxpayers out there aren't as paranoid as one might think.@@@@1@13@@oe@2-2-2013
21570011@unknown@formal@none@1@S@Federal and state tax enforcers develop many group targets for investigation, on the basis of occupation, high income, type of income, or some other characteristic that may signal an opportunity or tendency to hide income or exaggerate deductions.@@@@1@38@@oe@2-2-2013
21570012@unknown@formal@none@1@S@Many professions long have seemed to be targets because of the exotic or ludicrous efforts of some members to offset high income with fake losses from phony tax shelters: dentists who invested in dubiously dubbed foreign films or airline pilots who raised racehorses on their days off.@@@@1@47@@oe@2-2-2013
21570013@unknown@formal@none@1@S@Mail-order ministers have been squelched.@@@@1@5@@oe@2-2-2013
21570014@unknown@formal@none@1@S@Now, television and radio evangelists are under scrutiny.@@@@1@8@@oe@2-2-2013
21570015@unknown@formal@none@1@S@The IRS recently won part of its long-running battle with the Church of Scientology over exemptions when the U.S. Supreme Court held that members' payments to the church weren't deductible because the members received services in return.@@@@1@37@@oe@2-2-2013
21570016@unknown@formal@none@1@S@IRS statistics show that the more persistent hiders of income among sole proprietors of businesses include used-car dealers, entertainment producers, masons, roofers, and taxi owners.@@@@1@25@@oe@2-2-2013
21570017@unknown@formal@none@1@S@Small businesses in general account for almost 40% of unreported personal income, the IRS has said.@@@@1@16@@oe@2-2-2013
21570018@unknown@formal@none@1@S@Once such abuses become so pervasive, the IRS builds another factor into its secret computer formula for selecting returns for audit and doesn't need special projects for them.@@@@1@28@@oe@2-2-2013
21570019@unknown@formal@none@1@S@San Franciscans have a much higher incidence of audits than average because more of them score high under that formula, not because IRS agents envy their life styles.@@@@1@28@@oe@2-2-2013
21570020@unknown@formal@none@1@S@Many openings for mass cheating, such as questionable tax shelters and home offices, have gaped so broadly that Congress has passed stringent laws to close them.@@@@1@26@@oe@2-2-2013
21570021@unknown@formal@none@1@S@Deductions of charitable gifts of highly valued art now must be accompanied by appraisals.@@@@1@14@@oe@2-2-2013
21570022@unknown@formal@none@1@S@And laws requiring the reporting of more varieties of transactions have enabled the IRS to rely on computers to ferret out discrepancies with returns and to generate form-letter inquiries to taxpayers.@@@@1@31@@oe@2-2-2013
21570023@unknown@formal@none@1@S@Unreported alimony income can be spotted by computer because a payer of alimony (who gets a deduction) must report the former spouse's Social Security number.@@@@1@25@@oe@2-2-2013
21570024@unknown@formal@none@1@S@Passport applicants now must give Social Security numbers, enabling the IRS to see whether Americans living abroad are filing required U.S. returns.@@@@1@22@@oe@2-2-2013
21570025@unknown@formal@none@1@S@But while IRS computers focus routinely on target groups like these, the agency has assigned many agents to special projects that need more personal attention.@@@@1@25@@oe@2-2-2013
21570026@unknown@formal@none@1@S@In most cases, the IRS says, these projects are local or regional, rather than national, and arise because auditors in an area detect some pattern of abuse among, say, factory workers claiming that having a multitude of dependents frees them from tax withholding or yacht owners deducting losses from sideline charter businesses.@@@@1@52@@oe@2-2-2013
21570027@unknown@formal@none@1@S@The national office currently has 21 noncriminal audit projects, according to Marshall V. Washburn, deputy assistant commissioner for examination.@@@@1@19@@oe@2-2-2013
21570028@unknown@formal@none@1@S@Auditors involved in noncriminal projects can't send anyone to jail, but they can make life miserable in other ways -- for one, by imposing some of the 150 different civil penalties for negligence, failure to file a return, and the like.@@@@1@41@@oe@2-2-2013
21570029@unknown@formal@none@1@S@The targeted audit groups include direct sellers -- people who sell cosmetics, housewares and other items door to door or at home parties -- and employers who label workers as independent contractors instead of employees, to avoid the employer share of payroll taxes.@@@@1@43@@oe@2-2-2013
21570030@unknown@formal@none@1@S@Other projects look for offenders among waiters who get cash tips, people who engage in large cash transactions, and people whose returns show they sold a home for a profit without reinvesting the capital gain in another home by the end of the same year; the gain must be rolled over within two years to defer tax.@@@@1@57@@oe@2-2-2013
21570031@unknown@formal@none@1@S@And now that returns must show dependents' Social Security numbers, the IRS wants to see which dependents show up on more than one return -- and which dependents turn out to be deceased.@@@@1@33@@oe@2-2-2013
21570032@unknown@formal@none@1@S@Impetus for the direct-seller project came from a congressional hearing some years back.@@@@1@13@@oe@2-2-2013
21570033@unknown@formal@none@1@S@It prompted an IRS study that found many sellers were concealing income and treating large amounts of nondeductible travel and other personal expenses as business costs, Mr. Washburn says.@@@@1@29@@oe@2-2-2013
21570034@unknown@formal@none@1@S@The study provided criteria for singling out returns of "potentially noncompliant" taxpayers who report low income and large expenses from a part-time business.@@@@1@23@@oe@2-2-2013
21570035@unknown@formal@none@1@S@The Tax Court recently denied business deductions by Mr. and Mrs. Peter S. Rubin of Cherry Hill, N.J., who both were part-time distributors of Amway products in addition to their regular jobs as sales people in other fields.@@@@1@38@@oe@2-2-2013
21570036@unknown@formal@none@1@S@For 1984, they reported gross income of $1,647 from Amway sales, offset by expenses totaling $16,746 -- including car costs of $6,805 and travel and entertainment costs of $5,088.@@@@1@29@@oe@2-2-2013
21570037@unknown@formal@none@1@S@The Tax Court didn't believe that the Rubins, who earned $65,619 in their regular jobs, treated the sideline as a real business and derived "merely incidental elements of recreation and other personal pleasure and benefits" from it.@@@@1@37@@oe@2-2-2013
21570038@unknown@formal@none@1@S@The Direct Selling Association, a trade group, points out that its members, which include Amway Corp., cooperate with the IRS to distribute tax-compliance material to sales people and are helping to prepare a public-service television program on the subject.@@@@1@39@@oe@2-2-2013
21570039@unknown@formal@none@1@S@The independent-contractor project, which began in 1988, involves about 350 IRS agents.@@@@1@12@@oe@2-2-2013
21570040@unknown@formal@none@1@S@In the fiscal nine months ended June 30, reports Raymond P. Keenan, assistant commissioner for collection, they examined about 13,000 employers, assessed more than $67 million in delinquent employment taxes, and reclassified about 56,000 workers as employees instead of self-employed contractors.@@@@1@41@@oe@2-2-2013
21570041@unknown@formal@none@1@S@The number of misclassified workers may be in the millions, mostly paid by small firms.@@@@1@15@@oe@2-2-2013
21570042@unknown@formal@none@1@S@Many workers, especially professionals, want to remain independent to avoid tax withholding and to continue to deduct many expenses that employees can't.@@@@1@22@@oe@2-2-2013
21570043@unknown@formal@none@1@S@But many others, who want to qualify for employee benefits and unemployment compensation, become tipsters for the IRS, says Jerry Lackey, who manages the IRS project's force of nine agents in north and central Florida from Orlando.@@@@1@37@@oe@2-2-2013
21570044@unknown@formal@none@1@S@Firms that are paying employment taxes also provide leads to competitors that aren't, he says.@@@@1@15@@oe@2-2-2013
21570045@unknown@formal@none@1@S@In his area, Mr. Lackey continues, the miscreant employers most commonly are in construction -- doing framing, drywall, masonry and similar work.@@@@1@22@@oe@2-2-2013
21570046@unknown@formal@none@1@S@But a medical clinic with about 20 employees wrongly listed all of them -- including physicians and receptionists -- as independent contractors.@@@@1@22@@oe@2-2-2013
21570047@unknown@formal@none@1@S@The IRS assessed the clinic $350,000 in back payroll taxes.@@@@1@10@@oe@2-2-2013
21570048@unknown@formal@none@1@S@It assessed nearly $500,000 against a cruise-ship company that carried about 100 deckhands, cooks, bartenders, entertainers and other employees as self-employed independents.@@@@1@22@@oe@2-2-2013
21570049@unknown@formal@none@1@S@Revenue-short states also are becoming more aggressive pursuers of tax delinquents, and perhaps none tracks them down with more relish than does New York since it acquired an $80 million computer system in 1985.@@@@1@34@@oe@2-2-2013
21570050@unknown@formal@none@1@S@The state's tax enforcers have amassed data bases from other New York agencies that license or register professionals and businesses; from exchange agreements with the IRS, 24 other states, and two Canadian provinces, and even from phonebook Yellow Pages.@@@@1@39@@oe@2-2-2013
21570051@unknown@formal@none@1@S@Thus armed for massive matching of documents by computer, they single out high-income groups, looking primarily for people who haven't filed New York income-tax returns.@@@@1@25@@oe@2-2-2013
21570052@unknown@formal@none@1@S@The state has combed through records relating to architects, stockbrokers, lawyers in the New York City area, construction workers from out of the state, and homeowners who claim to be residents of other states -- especially Florida, which has no personal income tax.@@@@1@43@@oe@2-2-2013
21570053@unknown@formal@none@1@S@Soon to feel the glare of attention are lawyers elsewhere in the state, doctors, dentists, and accountants, says Frederick G. Hicks, director of the tax-department division that develops the computer-matching programs.@@@@1@31@@oe@2-2-2013
21570054@unknown@formal@none@1@S@The department has collected over $6.5 million from brokers so far and recommended more than 30 of them for criminal prosecution.@@@@1@21@@oe@2-2-2013
21570055@unknown@formal@none@1@S@In the early stage of checking people with incomes exceeding $500,000 who were filing nonresident returns, it squeezed $7.5 million out of a man who was posing as a Florida resident.@@@@1@31@@oe@2-2-2013
21570056@unknown@formal@none@1@S@"We think we can reclaim hundreds of millions of dollars just through the nonresident project," Mr. Hicks declares.@@@@1@18@@oe@2-2-2013
21570057@unknown@formal@none@1@S@Mr. Schmedel is editor of The Wall Street Journal's Tax Report column.@@@@1@12@@oe@2-2-2013
21571001@unknown@formal@none@1@S@In finding "good news" in Berkeley's new freshman admissions plan ("The Privileged Class," editorial, Sept. 20), you're reading the headline but not the story.@@@@1@24@@oe@2-2-2013
21571002@unknown@formal@none@1@S@The plan indeed raises from 40% to 50% the number of freshmen applicants admitted strictly by academic criteria.@@@@1@18@@oe@2-2-2013
21571003@unknown@formal@none@1@S@But that doesn't mean "half of the students attending Berkeley" will be admitted this way.@@@@1@15@@oe@2-2-2013
21571004@unknown@formal@none@1@S@The plan is talking about applicants admitted, not students who enroll.@@@@1@11@@oe@2-2-2013
21571005@unknown@formal@none@1@S@Since the "yield" from this top slice of applicants is relatively low, boosting admits from 40% to 50% will boost registrants from about 31% to 38% of the class.@@@@1@29@@oe@2-2-2013
21571006@unknown@formal@none@1@S@In addition, perhaps 5% of registrants will come from a new category consisting of applicants whose academic credentials "narrowly missed" gaining them admission in the first category.@@@@1@27@@oe@2-2-2013
21571007@unknown@formal@none@1@S@But against that combined increase of 12% in students chosen by academic criteria, the plan eliminates a large category in which admissions now are based on grades, test scores and "supplemental points" for factors such as high-school curriculum, English-language proficiency and an essay.@@@@1@43@@oe@2-2-2013
21571008@unknown@formal@none@1@S@This category now accounts for about 19% of admits and 22% of registrants.@@@@1@13@@oe@2-2-2013
21571009@unknown@formal@none@1@S@The plan thus will decrease by 22%, for a net loss of 10%, the number of students admitted primarily by academic criteria.@@@@1@22@@oe@2-2-2013
21571010@unknown@formal@none@1@S@Who will take over these places?@@@@1@6@@oe@2-2-2013
21571011@unknown@formal@none@1@S@The plan creates a new category of students from "socioeconomically disadvantaged backgrounds," a concept not yet defined, and gives them about 10% of the class.@@@@1@25@@oe@2-2-2013
21571012@unknown@formal@none@1@S@One of the plan's authors has defended the "socioeconomic disadvantage" category as perhaps making more sense than the current affirmative-action preferences based on race.@@@@1@24@@oe@2-2-2013
21571013@unknown@formal@none@1@S@Perhaps it does.@@@@1@3@@oe@2-2-2013
21571014@unknown@formal@none@1@S@But the new category does not replace or reduce Berkeley's broad racial preferences.@@@@1@13@@oe@2-2-2013
21571015@unknown@formal@none@1@S@Nor will students from racial-minority groups who are admitted through the new category be counted against the affirmative-action "target" for their group.@@@@1@22@@oe@2-2-2013
21571016@unknown@formal@none@1@S@The plan thus places a large new affirmative-action program, based on "socioeconomic disadvantage," on top of the existing program based on race.@@@@1@22@@oe@2-2-2013
21571017@unknown@formal@none@1@S@The role of academic criteria in choosing Berkeley's freshmen can only decline as a result.@@@@1@15@@oe@2-2-2013
21571018@unknown@formal@none@1@S@Stephen R. Barnett Professor of Law University of California Berkeley, Calif.@@@@1@11@@oe@2-2-2013
21572001@unknown@formal@none@1@S@FOR THOSE WHO DELIGHT in the misfortune of others, read on.@@@@1@11@@oe@2-2-2013
21572002@unknown@formal@none@1@S@This is a story about suckers.@@@@1@6@@oe@2-2-2013
21572003@unknown@formal@none@1@S@Most of us know a sucker.@@@@1@6@@oe@2-2-2013
21572004@unknown@formal@none@1@S@Many of us are suckers.@@@@1@5@@oe@2-2-2013
21572005@unknown@formal@none@1@S@But what we may not know is just what makes somebody a sucker.@@@@1@13@@oe@2-2-2013
21572006@unknown@formal@none@1@S@What makes people blurt out their credit-card numbers to a caller they've never heard of?@@@@1@15@@oe@2-2-2013
21572007@unknown@formal@none@1@S@Do they really believe that the number is just for verification and is simply a formality on the road to being a grand-prize winner?@@@@1@24@@oe@2-2-2013
21572008@unknown@formal@none@1@S@What makes a person buy an oil well from some stranger knocking on the screen door?@@@@1@16@@oe@2-2-2013
21572009@unknown@formal@none@1@S@Or an interest in a retirement community in Nevada that will knock your socks off, once it is built?@@@@1@19@@oe@2-2-2013
21572010@unknown@formal@none@1@S@Because in the end, these people always wind up asking themselves the same question: "How could I be so stupid?"@@@@1@20@@oe@2-2-2013
21572011@unknown@formal@none@1@S@There are, unfortunately, plenty of answers to that question -- and scam artists know all of them.@@@@1@17@@oe@2-2-2013
21572012@unknown@formal@none@1@S@"These people are very skilled at finding out what makes a person tick," says Kent Neal, chief of the economic-crime unit of the Broward County State Attorney's Office in Fort Lauderdale, Fla., a major haven for boiler rooms.@@@@1@38@@oe@2-2-2013
21572013@unknown@formal@none@1@S@"Once they size them up, then they know what buttons to push."@@@@1@12@@oe@2-2-2013
21572014@unknown@formal@none@1@S@John Blodgett agrees -- and he ought to know.@@@@1@9@@oe@2-2-2013
21572015@unknown@formal@none@1@S@He used to be a boiler-room salesman, peddling investments in oil and gas wells and rare coins.@@@@1@17@@oe@2-2-2013
21572016@unknown@formal@none@1@S@"There's a definite psychology of the sale and different personalities you pitch different ways," he says.@@@@1@16@@oe@2-2-2013
21572017@unknown@formal@none@1@S@The most obvious pitch, of course, is the lure of big returns.@@@@1@12@@oe@2-2-2013
21572018@unknown@formal@none@1@S@"We're all a little greedy.@@@@1@5@@oe@2-2-2013
21572019@unknown@formal@none@1@S@Everyone is vulnerable," says Charles Harper, associate regional administrator for the Securities and Exchange Commission in Miami.@@@@1@17@@oe@2-2-2013
21572020@unknown@formal@none@1@S@"These guys prey on human frailties."@@@@1@6@@oe@2-2-2013
21572021@unknown@formal@none@1@S@While the promises of big profits ought to set off warning bells, they often don't, in part because get-rich-quick tales have become embedded in American folklore.@@@@1@26@@oe@2-2-2013
21572022@unknown@formal@none@1@S@"The overnight success story is part of our culture, and our society puts an emphasis on it with lotteries and Ed McMahon making millionaires out of people," says Michael Cunningham, an associate professor of psychology at the University of Kentucky in Louisville.@@@@1@42@@oe@2-2-2013
21572023@unknown@formal@none@1@S@"Other people are making it overnight, and the rest who toil daily don't want to miss that opportunity when it seems to come along."@@@@1@24@@oe@2-2-2013
21572024@unknown@formal@none@1@S@Adds Spencer Barasch, branch chief for enforcement at the SEC in Fort Worth, Texas: "Why do people play the lottery when the odds are great against them?@@@@1@27@@oe@2-2-2013
21572025@unknown@formal@none@1@S@People are shooting for a dream."@@@@1@6@@oe@2-2-2013
21572026@unknown@formal@none@1@S@Clearly, though, scam artists have to be a bit more subtle than simply promising millions; the psychology of suckers isn't simply the psychology of the greedy.@@@@1@26@@oe@2-2-2013
21572027@unknown@formal@none@1@S@There's also, for instance, the need to be part of the in-crowd.@@@@1@12@@oe@2-2-2013
21572028@unknown@formal@none@1@S@So one popular ploy is to make a prospective investor feel like an insider, joining an exclusive group that is about to make a killing.@@@@1@25@@oe@2-2-2013
21572029@unknown@formal@none@1@S@Between 1978 and 1987, for instance, SH Oil in Winter Haven, Fla., sold interests in oil wells to a very select group of local residents, while turning away numerous other eager investors.@@@@1@32@@oe@2-2-2013
21572030@unknown@formal@none@1@S@The owner of the company, Stephen Smith, who has since pleaded guilty to state and federal fraud charges, confided to investors that he had a secret agreement with Amoco Oil Co. and said the location of his wells was confidential, according to a civil suit filed in a Florida state court by the Florida comptroller's office.@@@@1@56@@oe@2-2-2013
21572031@unknown@formal@none@1@S@Neither the Amoco agreement nor the wells existed, the suit alleged.@@@@1@11@@oe@2-2-2013
21572032@unknown@formal@none@1@S@Such schemes, says Tony Adamski, chief of the financial-crimes unit of the Federal Bureau of Investigation in Washington, D.C., appeal to investors' "desire to believe this is really true and that they are part of a chosen group being given this opportunity."@@@@1@42@@oe@2-2-2013
21572033@unknown@formal@none@1@S@At times, salesmen may embellish the inside information with "the notion that this is some slightly shady, slightly illegal investment the person is being included in," says Mr. Cunningham.@@@@1@29@@oe@2-2-2013
21572034@unknown@formal@none@1@S@In appealing to those with a bit of larceny in their hearts, the fraud artist can insist that a person keep an investment secret -- insulating himself from being discovered and keeping his victim from consulting with others.@@@@1@38@@oe@2-2-2013
21572035@unknown@formal@none@1@S@It also adds to the mystery of the venture.@@@@1@9@@oe@2-2-2013
21572036@unknown@formal@none@1@S@Mr. Blodgett, the boiler-room veteran, believes that for many investors, the get-rich-quick scams carry a longed-for element of excitement.@@@@1@19@@oe@2-2-2013
21572037@unknown@formal@none@1@S@"Once people got into it, I was allowing them to live a dream," he says.@@@@1@15@@oe@2-2-2013
21572038@unknown@formal@none@1@S@He phoned them with updates on the investment, such as "funny things that happened at the well that week," he says.@@@@1@21@@oe@2-2-2013
21572039@unknown@formal@none@1@S@"You gave them some excitement that they didn't have in their lives."@@@@1@12@@oe@2-2-2013
21572040@unknown@formal@none@1@S@(Mr. Blodgett, who was convicted in Florida state court of selling unregistered securities and in California state court of unlawful use of the telephone to defraud and deceive, is now on probation.@@@@1@32@@oe@2-2-2013
21572041@unknown@formal@none@1@S@He says he has quit the business and is back in school, majoring in psychology with aspirations to go into industrial psychology.)@@@@1@22@@oe@2-2-2013
21572042@unknown@formal@none@1@S@For some investors, it's the appearances that leave them deceived.@@@@1@10@@oe@2-2-2013
21572043@unknown@formal@none@1@S@"The trappings of success go a long way -- wearing the right clothes, doing the right things," says Paul Andreassen, an associate professor of psychology at Harvard.@@@@1@27@@oe@2-2-2013
21572044@unknown@formal@none@1@S@Conservative appearances make people think it's a conservative investment.@@@@1@9@@oe@2-2-2013
21572045@unknown@formal@none@1@S@"People honestly lose money on risky investments that they didn't realize were a crapshoot," he says.@@@@1@16@@oe@2-2-2013
21572046@unknown@formal@none@1@S@Paul Wenz, a Phoenix, Ariz., attorney, says a promise of unrealistic returns would have made him leery.@@@@1@17@@oe@2-2-2013
21572047@unknown@formal@none@1@S@But Mr. Wenz, who says he lost $43,000 in one precious-metals deal and $39,000 in another, says a salesman "used a business-venture approach" with him, sending investment literature, a contract limiting the firm's liability, and an insurance policy.@@@@1@38@@oe@2-2-2013
21572048@unknown@formal@none@1@S@When he visited the company's office, he says, it had "all the trappings of legitimacy."@@@@1@15@@oe@2-2-2013
21572049@unknown@formal@none@1@S@Still others are stung by a desire to do both well and good, says Douglas Watson, commanding officer of the Los Angeles Police Department's bunko-forgery division.@@@@1@26@@oe@2-2-2013
21572050@unknown@formal@none@1@S@Born-again Christians are the most visible targets of unscrupulous do-gooder investment pitches.@@@@1@12@@oe@2-2-2013
21572051@unknown@formal@none@1@S@But hardly the only ones: The scams promise -- among other things -- to help save the environment, feed starving families and prevent the disappearance of children.@@@@1@27@@oe@2-2-2013
21572052@unknown@formal@none@1@S@Psychologists say isolated people who don't discuss their investments with others are particularly at risk for fraud.@@@@1@17@@oe@2-2-2013
21572053@unknown@formal@none@1@S@Scam artists seek out such people -- or try to make sure that their victims isolate themselves.@@@@1@17@@oe@2-2-2013
21572054@unknown@formal@none@1@S@For instance, salesmen may counter a man's objection that he wants to discuss an investment with his wife by asking, "Who wears the pants in your family?"@@@@1@27@@oe@2-2-2013
21572055@unknown@formal@none@1@S@Or an investor who wants his accountant's advice may be told, "You seem like a guy who can make up his own mind."@@@@1@23@@oe@2-2-2013
21572056@unknown@formal@none@1@S@Often con artists will try to disarm their victims by emphasizing similarities between them.@@@@1@14@@oe@2-2-2013
21572057@unknown@formal@none@1@S@William Lynes, a retired engineer from Lockheed Corp., says he and his wife, Lily, warmed to the investment pitches of a penny-stock peddler from Stuart-James Co. in Atlanta after the broker told them he, too, had once worked with Lockheed.@@@@1@40@@oe@2-2-2013
21572058@unknown@formal@none@1@S@The Lyneses, of Powder Springs, Ga., have filed suit in Georgia state court against Stuart James, alleging fraud.@@@@1@18@@oe@2-2-2013
21572059@unknown@formal@none@1@S@They are awaiting an arbitration proceeding.@@@@1@6@@oe@2-2-2013
21572060@unknown@formal@none@1@S@They say the broker took them out for lunch frequently.@@@@1@10@@oe@2-2-2013
21572061@unknown@formal@none@1@S@He urged them to refer their friends, who also lost money.@@@@1@11@@oe@2-2-2013
21572062@unknown@formal@none@1@S@(Donald Trinen, an attorney for the penny-brokerage firm, denies the fraud allegations and says the Lyneses were fully apprised that they were pursuing a high-risk investment.)@@@@1@26@@oe@2-2-2013
21572063@unknown@formal@none@1@S@"It's not uncommon for these guys to send pictures of themselves or their families to ingratiate themselves to their clients," says Terree Bowers, chief of the major-frauds section of the U.S. attorney's office in Los Angeles.@@@@1@36@@oe@2-2-2013
21572064@unknown@formal@none@1@S@"We've seen cases where salesmen will affect the accent of the region of the country they are calling.@@@@1@18@@oe@2-2-2013
21572065@unknown@formal@none@1@S@Anything to make a sale."@@@@1@5@@oe@2-2-2013
21572066@unknown@formal@none@1@S@Experts say that whatever a person's particular weak point, timing is crucial.@@@@1@12@@oe@2-2-2013
21572067@unknown@formal@none@1@S@People may be particularly vulnerable to flim-flam pitches when they are in the midst of a major upheaval in their lives.@@@@1@21@@oe@2-2-2013
21572068@unknown@formal@none@1@S@"Sometimes when people are making big changes, retiring from their jobs, moving to a new area, they lose their bearings," says Maury Elvekrog, a licensed psychologist who is now an investment adviser and principal in Seger-Elvekrog Inc., a Birmingham, Mich., investment-counseling firm.@@@@1@42@@oe@2-2-2013
21572069@unknown@formal@none@1@S@"They may be susceptible to some song and dance if it hits them at the right time."@@@@1@17@@oe@2-2-2013
21572070@unknown@formal@none@1@S@They are obviously also more susceptible when they need money-retirees, for instance, trying to bolster their fixed income or parents fretting over how to pay for a child's college expenses.@@@@1@30@@oe@2-2-2013
21572071@unknown@formal@none@1@S@"These people aren't necessarily stupid or naive.@@@@1@7@@oe@2-2-2013
21572072@unknown@formal@none@1@S@Almost all of us in comparable circumstances might be victimized in some way," says Jerald Jellison, a psychology professor at the University of Southern California in Los Angeles.@@@@1@28@@oe@2-2-2013
21572073@unknown@formal@none@1@S@Nick Cortese thinks that's what happened to him.@@@@1@8@@oe@2-2-2013
21572074@unknown@formal@none@1@S@Mr. Cortese, a 33-year-old Delta Air Lines engineer, invested some $2,000 in penny stocks through a broker who promised quick returns.@@@@1@21@@oe@2-2-2013
21572075@unknown@formal@none@1@S@"We were saving up to buy a house, and my wife was pregnant," says Mr. Cortese.@@@@1@16@@oe@2-2-2013
21572076@unknown@formal@none@1@S@"It was just before the Christmas holidays, and I figured we could use some extra cash."@@@@1@16@@oe@2-2-2013
21572077@unknown@formal@none@1@S@The investment is worth about $130 today.@@@@1@7@@oe@2-2-2013
21572078@unknown@formal@none@1@S@"Maybe it was just a vulnerable time," says Mr. Cortese.@@@@1@10@@oe@2-2-2013
21572079@unknown@formal@none@1@S@"Maybe the next day or even an hour later, I wouldn't have done it."@@@@1@14@@oe@2-2-2013
21572080@unknown@formal@none@1@S@Ms. Brannigan is a staff reporter in The Wall Street Journal's Atlanta bureau.@@@@1@13@@oe@2-2-2013
21573001@unknown@formal@none@1@S@Prices for seats on the New York Stock Exchange are recovering a bit after hitting a four-year low earlier this month.@@@@1@21@@oe@2-2-2013
21573002@unknown@formal@none@1@S@Two seats on the Big Board were sold yesterday for $455,000, and then $500,000.@@@@1@14@@oe@2-2-2013
21573003@unknown@formal@none@1@S@The previous sale was $436,000 on Oct. 17; the last time prices were that low was November 1985, when a seat sold for $425,000.@@@@1@24@@oe@2-2-2013
21573004@unknown@formal@none@1@S@Prices peaked at $1,150,000 in September 1987.@@@@1@7@@oe@2-2-2013
21573005@unknown@formal@none@1@S@Seats are currently quoted at $430,000 bid and $525,000 asked.@@@@1@10@@oe@2-2-2013
21574001@unknown@formal@none@1@S@FOX HUNTING HAS been defined as the unspeakable in pursuit of the inedible, but at least it's exercise.@@@@1@18@@oe@2-2-2013
21574002@unknown@formal@none@1@S@At least it has a little dash.@@@@1@7@@oe@2-2-2013
21574003@unknown@formal@none@1@S@Most of us have to spend our time on pursuits that afford neither, drab duties rather than pleasures.@@@@1@18@@oe@2-2-2013
21574004@unknown@formal@none@1@S@Like trying to buy life insurance, for instance, an endeavor notably lacking in dash.@@@@1@14@@oe@2-2-2013
21574005@unknown@formal@none@1@S@Call it the uninformed trudging after the incomprehensible.@@@@1@8@@oe@2-2-2013
21574006@unknown@formal@none@1@S@But sooner or later, most of us have to think about life insurance, just as we often have to think about having root-canal work.@@@@1@24@@oe@2-2-2013
21574007@unknown@formal@none@1@S@And my time has come.@@@@1@5@@oe@2-2-2013
21574008@unknown@formal@none@1@S@I'm 33, married, no children, and employed in writing stories like this one.@@@@1@13@@oe@2-2-2013
21574009@unknown@formal@none@1@S@In times past, life-insurance salesmen targeted heads of household, meaning men, but ours is a two-income family and accustomed to it.@@@@1@21@@oe@2-2-2013
21574010@unknown@formal@none@1@S@So if anything happened to me, I'd want to leave behind enough so that my 33-year-old husband would be able to pay off the mortgage and some other debts (though not, I admit, enough to put any potential second wife in the lap of luxury).@@@@1@45@@oe@2-2-2013
21574011@unknown@formal@none@1@S@Figuring that maybe $100,000 to $150,000 would do but having no idea of what kind of policy I wanted, I looked at the myriad products of a dozen companies -- and plunged into a jungle of gibberish.@@@@1@37@@oe@2-2-2013
21574012@unknown@formal@none@1@S@Over the past decade or two, while I was thinking about fox hunting, the insurance industry has spawned an incredible number of products, variations on products, and variations on the variations.@@@@1@31@@oe@2-2-2013
21574013@unknown@formal@none@1@S@Besides term life and whole life (the old standbys), we now have universal life, universal variable life, flexible adjustable universal life, policies with persistency bonuses, policies festooned with exotic riders, living benefit policies, and on and on.@@@@1@37@@oe@2-2-2013
21574014@unknown@formal@none@1@S@What to do?@@@@1@3@@oe@2-2-2013
21574015@unknown@formal@none@1@S@First, generalize.@@@@1@2@@oe@2-2-2013
21574016@unknown@formal@none@1@S@Shorn of all their riders, special provisions, and other bells and whistles, insurance policies can still be grouped under two broad categories: so-called pure insurance, which amasses no cash value in the policy and pays off only upon death, and permanent insurance, which provides not only a death benefit but also a cash value in the policy that can be used in various ways while the insured is still alive.@@@@1@70@@oe@2-2-2013
21574017@unknown@formal@none@1@S@If all you want is death-benefit coverage, pure insurance -- a term policy -- gives you maximum bang for your buck, within limits.@@@@1@23@@oe@2-2-2013
21574018@unknown@formal@none@1@S@It's much cheaper than permanent insurance bought at the same age.@@@@1@11@@oe@2-2-2013
21574019@unknown@formal@none@1@S@But "term" means just that; the policy is written for a specific time period only and must be renewed when it expires.@@@@1@22@@oe@2-2-2013
21574020@unknown@formal@none@1@S@It may also stipulate that the insured must pass another medical exam before renewal; if you flunk -- which means you need insurance more than ever -- you may not be able to buy it.@@@@1@35@@oe@2-2-2013
21574021@unknown@formal@none@1@S@Even if you're healthy and can renew, your premium will go up sharply because you're that much older.@@@@1@18@@oe@2-2-2013
21574022@unknown@formal@none@1@S@So term insurance may not be as cheap as it looks.@@@@1@11@@oe@2-2-2013
21574023@unknown@formal@none@1@S@There are all sorts of variations on term insurance: policies structured to pay off your mortgage debt, term riders tacked on to permanent insurance, and many others.@@@@1@27@@oe@2-2-2013
21574024@unknown@formal@none@1@S@One variation that appealed to me at first was the "Money Smart Term Life" policy offered by Amex Life Insurance Co., the American Express unit, to the parent company's credit-card holders.@@@@1@31@@oe@2-2-2013
21574025@unknown@formal@none@1@S@Upon examination, however, I wondered whether the plan made a lot of sense.@@@@1@13@@oe@2-2-2013
21574026@unknown@formal@none@1@S@Amex said it would charge me $576 a year for $100,000 of coverage -- and would pay me back all the premiums I put in if I canceled the policy after 10 years.@@@@1@33@@oe@2-2-2013
21574027@unknown@formal@none@1@S@Sounds great -- or does it?@@@@1@6@@oe@2-2-2013
21574028@unknown@formal@none@1@S@First, if I canceled, I'd have no more insurance, a not insignificant consideration.@@@@1@13@@oe@2-2-2013
21574029@unknown@formal@none@1@S@Second, the $5,760 I'd get back would be much diminished in purchasing power by 10 years of inflation; Amex, not I, would get the benefit of the investment income on my money, income that would have exceeded the inflation rate and thus given the company a real profit.@@@@1@48@@oe@2-2-2013
21574030@unknown@formal@none@1@S@Third and most important, Amex would charge me a far higher premium than other reputable companies would on a straight term policy for the same amount; I'd be paying so heavily just to have the option of getting my premiums back that I'd almost have to cancel to make the whole thing worthwhile.@@@@1@53@@oe@2-2-2013
21574031@unknown@formal@none@1@S@That would be all right with Amex, which could then lock in its investment profit, but it doesn't add up to a "smart money" move for me.@@@@1@27@@oe@2-2-2013
21574032@unknown@formal@none@1@S@Which goes to show that the First Law applies in insurance as in anything else: There is no free lunch, there is only marketing.@@@@1@24@@oe@2-2-2013
21574033@unknown@formal@none@1@S@And the Second Law, unique to insurance?@@@@1@7@@oe@2-2-2013
21574034@unknown@formal@none@1@S@If I die early, I win -- a hollow victory, since I can't enjoy it -- and if I live long, the insurer wins.@@@@1@24@@oe@2-2-2013
21574035@unknown@formal@none@1@S@Always.@@@@1@1@@oe@2-2-2013
21574036@unknown@formal@none@1@S@This is worth remembering when insurers and their salesmen try to sell you permanent insurance, the kind that amasses cash value.@@@@1@21@@oe@2-2-2013
21574037@unknown@formal@none@1@S@The word "death" cannot be escaped entirely by the industry, but salesmen dodge it wherever possible or cloak it in euphemisms, preferring to talk about "savings" and "investment" instead.@@@@1@29@@oe@2-2-2013
21574038@unknown@formal@none@1@S@The implication is that your permanent-insurance policy is really some kind of CD or mutual-fund account with an added feature.@@@@1@20@@oe@2-2-2013
21574039@unknown@formal@none@1@S@That is gilding the lily.@@@@1@5@@oe@2-2-2013
21574040@unknown@formal@none@1@S@The fact is that as a savings or investment vehicle, insurance generally runs a poor second to any direct investment you might make in the same things the insurance company is putting your money into.@@@@1@35@@oe@2-2-2013
21574041@unknown@formal@none@1@S@That's because you have to pay for the insurance portion of the policy and the effort required to sell and service the whole package.@@@@1@24@@oe@2-2-2013
21574042@unknown@formal@none@1@S@Again, no free lunch.@@@@1@4@@oe@2-2-2013
21574043@unknown@formal@none@1@S@This is reflected in a built-in mortality cost -- in effect, your share of the company's estimated liability in paying off beneficiaries of people who had the effrontery to die while under its protection.@@@@1@34@@oe@2-2-2013
21574044@unknown@formal@none@1@S@And in most cases, a huge hunk of your premium in the initial year or two of the the policy is, in effect, paying the salesman's commission as well; investment returns on most policies are actually negative for several years, largely because of this.@@@@1@44@@oe@2-2-2013
21574045@unknown@formal@none@1@S@So view permanent insurance for what it is -- a compromise between pure insurance and direct investment.@@@@1@17@@oe@2-2-2013
21574046@unknown@formal@none@1@S@The simplest, most traditional form of permanent insurance is the straight whole life policy.@@@@1@14@@oe@2-2-2013
21574047@unknown@formal@none@1@S@You pay a set premium for a set amount of coverage, the company invests that premium in a portfolio of its choosing, and your cash value and dividends grow over the years.@@@@1@32@@oe@2-2-2013
21574048@unknown@formal@none@1@S@One newer wrinkle, so called single-premium life (you pay for the whole policy at once), has been immensely popular in recent years for tax reasons; the insured could extract cash value in the form of policy "loans," and none of the proceeds were taxable even though they included gains on investment.@@@@1@51@@oe@2-2-2013
21574049@unknown@formal@none@1@S@Congress closed this loophole last year, or thought it did.@@@@1@10@@oe@2-2-2013
21574050@unknown@formal@none@1@S@However, Monarch Capital Corp. of Springfield, Mass., has developed a "combination plan" of annuity and insurance coverage that it says does not violate the new regulations and that allows policy loans without tax consequences.@@@@1@34@@oe@2-2-2013
21574051@unknown@formal@none@1@S@But the percentage of your cash reserve that you can borrow tax-free is very small.@@@@1@15@@oe@2-2-2013
21574052@unknown@formal@none@1@S@I'm not prepared in any case to put that much money into a policy immediately, so I look into the broad category called universal life.@@@@1@25@@oe@2-2-2013
21574053@unknown@formal@none@1@S@Hugely popular, it is far more flexible than straight whole life.@@@@1@11@@oe@2-2-2013
21574054@unknown@formal@none@1@S@I can adjust the amount of insurance I want against the amount going into investment; I can pay more or less than the so-called target premium in a given year; and I can even skip payments if my cash reserves are enough to cover the insurance portion of the policy.@@@@1@50@@oe@2-2-2013
21574055@unknown@formal@none@1@S@In looking at these and other policies, I learn to ask pointed questions about some of the assumptions built into "policy illustrations" -- the rows of numbers that show me the buildup of my cash values over the years.@@@@1@39@@oe@2-2-2013
21574056@unknown@formal@none@1@S@They commonly give two scenarios: One is based on interest rates that the company guarantees (usually 4% to 4.5%) and the other on the rate it is currently getting on investment, often 8.5% or more.@@@@1@35@@oe@2-2-2013
21574057@unknown@formal@none@1@S@Projecting the latter over several decades, I find my cash buildup is impressive -- but can any high interest rate prevail for that long?@@@@1@24@@oe@2-2-2013
21574058@unknown@formal@none@1@S@Not likely, I think.@@@@1@4@@oe@2-2-2013
21574059@unknown@formal@none@1@S@Also, some policy illustrations assume that mortality costs will decline or that I will get some sort of dividend bonus after the 10th year.@@@@1@24@@oe@2-2-2013
21574060@unknown@formal@none@1@S@These are not certain, either.@@@@1@5@@oe@2-2-2013
21574061@unknown@formal@none@1@S@Companies "aren't comfortable playing these games, but they realize they're under pressure to make their policies look good," says Timothy Pfiefer, an actuarial consultant at Tillinghast, a unit of Towers Perrin Co., the big New York consulting firm.@@@@1@38@@oe@2-2-2013
21574062@unknown@formal@none@1@S@Another factor to consider: Some of the companies currently earning very high yields are doing so through substantial investment in junk bonds, and you know how nervous the market has been about those lately.@@@@1@34@@oe@2-2-2013
21574063@unknown@formal@none@1@S@There are seemingly endless twists to universal life, and it pays to ask questions about all of them.@@@@1@18@@oe@2-2-2013
21574064@unknown@formal@none@1@S@At a back-yard barbecue, for example, a friend boasts that she'll only have to pay premiums on her John Hancock policy for seven years and that her death benefits will then be "guaranteed."@@@@1@33@@oe@2-2-2013
21574065@unknown@formal@none@1@S@I call her agent, David Dominici.@@@@1@6@@oe@2-2-2013
21574066@unknown@formal@none@1@S@Yes, he says, premiums on such variable-rate coverage can be structured to "vanish" after a certain period -- but usually only if interest rates stay high enough to generate sufficient cash to cover the annual cost of insurance protection.@@@@1@39@@oe@2-2-2013
21574067@unknown@formal@none@1@S@If interest rates plunge, the insurer may be knocking on my door, asking for steeper premium payments to maintain the same amount of protection.@@@@1@24@@oe@2-2-2013
21574068@unknown@formal@none@1@S@I don't like the sound of that.@@@@1@7@@oe@2-2-2013
21574069@unknown@formal@none@1@S@Some insurers have also started offering "persistency bonuses," such as extra dividends or a marginally higher interest yield, if the policy is maintained for 10 years.@@@@1@26@@oe@2-2-2013
21574070@unknown@formal@none@1@S@But Glenn Daily, a New York-based financial consultant, warns that many of these bonuses are "just fantasies," because most aren't guaranteed by the companies.@@@@1@24@@oe@2-2-2013
21574071@unknown@formal@none@1@S@And the feature is so new, he adds, that no insurer has yet established a track record for actually making such payments.@@@@1@22@@oe@2-2-2013
21574072@unknown@formal@none@1@S@So-called living-benefits provisions also merit a close inspection.@@@@1@8@@oe@2-2-2013
21574073@unknown@formal@none@1@S@Offered by insurers that include Security-Connecticut Life Insurance Co., Jackson National Life Insurance Co., and National Travelers Life Insurance Co., these policy riders let me tap a portion of my death benefits while I'm still alive.@@@@1@36@@oe@2-2-2013
21574074@unknown@formal@none@1@S@Some provisions would let me collect a percentage of the policy's face value to pay for long-term care such as nursing-home stays; others would allow payments for catastrophic illnesses and conditions such as cancer, heart attarcks, renal failure and kidney transplants.@@@@1@41@@oe@2-2-2013
21574075@unknown@formal@none@1@S@But the catastrophic events for which the policyholder can collect are narrowly defined, vary from policy to policy, and generally permit use of only a small fraction of the face amount of insurance.@@@@1@33@@oe@2-2-2013
21574076@unknown@formal@none@1@S@Also, financial planners advising on insurance say that to their knowledge there has not yet been a tax ruling exempting these advance payments from taxes.@@@@1@25@@oe@2-2-2013
21574077@unknown@formal@none@1@S@And considering the extra cost of such provisions, some figure that people interested in, say, paying for extended nursing-home care would be better off just buying a separate policy that provides it.@@@@1@32@@oe@2-2-2013
21574078@unknown@formal@none@1@S@I'm more favorably impressed by "no-load life," even though it turns out to be low-load life.@@@@1@16@@oe@2-2-2013
21574079@unknown@formal@none@1@S@Insureres selling these policies market them directly to the public or otherwise don't use commissioned salesmen; there is still a load -- annual administrative fees and initial "setup" charges -- but I figure that the lack of commission and of "surrender fees" for dropping the policy early still saves me a lot.@@@@1@52@@oe@2-2-2013
21574080@unknown@formal@none@1@S@I compared one universal policy for $130,000 face amount from such an insurer, American Life Insurance Corp. of Lincoln, Neb., with a similar offering from Equitable Life Assurance Society of the U.S., which operates through 11,000 commissioned salesmen.@@@@1@38@@oe@2-2-2013
21574081@unknown@formal@none@1@S@After one year I could walk away from the Ameritas policy with $792, but Id get only $14 from the Equitable.@@@@1@21@@oe@2-2-2013
21574082@unknown@formal@none@1@S@The difference is magnified by time, too.@@@@1@7@@oe@2-2-2013
21574083@unknown@formal@none@1@S@At age 65, when I'd stop paying premiums, the Ameritas offering would have a projected cash value $14,000 higher than the other, even though the Equitable's policy illustration assumed a fractionally higher interest rate.@@@@1@34@@oe@2-2-2013
21574084@unknown@formal@none@1@S@Did I buy it?@@@@1@4@@oe@2-2-2013
21574085@unknown@formal@none@1@S@Well, not yet.@@@@1@3@@oe@2-2-2013
21574086@unknown@formal@none@1@S@I'm thinking about using the $871 annual premium to finance a trip to Paris first.@@@@1@15@@oe@2-2-2013
21574087@unknown@formal@none@1@S@A person can do some heavy thinking about insurance there -- and shop for something more exciting while she's doing it.@@@@1@21@@oe@2-2-2013
21575001@unknown@formal@none@1@S@Rorer Group Inc. will report that third-quarter profit rose more than 15% from a year earlier, though the gain is wholly due to asset sales, Robert Cawthorn, chairman, president and chief executive officer, said.@@@@1@34@@oe@2-2-2013
21575002@unknown@formal@none@1@S@His projection indicates profit in the latest quarter of more than $17.4 million, or 55 cents a share, compared with $15.2 million, or 48 cents a share, a year ago.@@@@1@30@@oe@2-2-2013
21575003@unknown@formal@none@1@S@Mr. Cawthorn said in an interview that sales will show an increase from a year ago of "somewhat less than 10%."@@@@1@21@@oe@2-2-2013
21575004@unknown@formal@none@1@S@Through the first six months of 1989, sales had grown about 12% from the year-earlier period.@@@@1@16@@oe@2-2-2013
21575005@unknown@formal@none@1@S@Growth of 10% would make sales for the latest quarter $269 million, compared with $244.6 million a year ago.@@@@1@19@@oe@2-2-2013
21575006@unknown@formal@none@1@S@Mr. Cawthorn said the profit growth in the latest quarter was due to the sale of two Rorer drugs.@@@@1@19@@oe@2-2-2013
21575007@unknown@formal@none@1@S@Asilone, an antacid, was sold to Boots PLC, London.@@@@1@9@@oe@2-2-2013
21575008@unknown@formal@none@1@S@Thrombinar, a drug used to stanch bleeding, was sold to Jones Medical Industries Inc., St. Louis.@@@@1@16@@oe@2-2-2013
21575009@unknown@formal@none@1@S@He said Rorer sold the drugs for "nice prices" and will record a combined, pretax gain on the sales of $20 million.@@@@1@22@@oe@2-2-2013
21575010@unknown@formal@none@1@S@As the gain from the sales indicates, operating profit was "significantly" below the year-earlier level, Mr. Cawthorn said.@@@@1@18@@oe@2-2-2013
21575011@unknown@formal@none@1@S@Rorer in July had projected lower third-quarter operating profit but higher profit for all of 1989.@@@@1@16@@oe@2-2-2013
21575012@unknown@formal@none@1@S@He said the company is still looking for "a strong fourth quarter in all areas -- sales, operating income and net income."@@@@1@22@@oe@2-2-2013
21575013@unknown@formal@none@1@S@Mr. Cawthorn attributed the decline in third-quarter operating profit to the stronger dollar, which reduces the value of overseas profit when it is translated into dollars; to accelerated buying of Rorer products in the second quarter because of a then-pending July 1 price increase, and to higher marketing expenses for Rorer's Maalox antacid, whose sales and market share in the U.S. had slipped in the first half of 1989.@@@@1@69@@oe@2-2-2013
21575014@unknown@formal@none@1@S@He said Rorer opted to sell Asilone and Thrombinar to raise revenue that would "kick start" its increased marketing efforts behind Maalox, still its top-selling product with about $215 million in world-wide sales in 1988.@@@@1@35@@oe@2-2-2013
21575015@unknown@formal@none@1@S@"We had underfunded Maalox for a year," he said, because the company was concentrating on research and development and promoting other drugs.@@@@1@22@@oe@2-2-2013
21575016@unknown@formal@none@1@S@He said Rorer will spend $15 million to $20 million more on Maalox advertising and promotion in the second half of 1989 than in the year-earlier period.@@@@1@27@@oe@2-2-2013
21575017@unknown@formal@none@1@S@A "big chunk" of that additional spending came in the third quarter, he said.@@@@1@14@@oe@2-2-2013
21576001@unknown@formal@none@1@S@Hoechst AG said it will stop producing fertilizer in 1990 because of continued losses and a bleak outlook.@@@@1@18@@oe@2-2-2013
21576002@unknown@formal@none@1@S@The West German chemical concern said it will close the last remaining fertilizer plant in Oberhausen in the fall of next year.@@@@1@22@@oe@2-2-2013
21576003@unknown@formal@none@1@S@Hoechst said the fertilizer market faces overcapacity in Western Europe, rising imports from East bloc countries and overseas, and declining demand.@@@@1@21@@oe@2-2-2013
21577001@unknown@formal@none@1@S@HomeFed Corp. said its main subsidiary, Home Federal Savings & Loan, converted from a federal savings and loan to a federal savings bank and changed its name to HomeFed Bank.@@@@1@30@@oe@2-2-2013
21577002@unknown@formal@none@1@S@The federal Office of Thrift Supervision approved the conversion last Friday, HomeFed said.@@@@1@13@@oe@2-2-2013
21577003@unknown@formal@none@1@S@The change in charter doesn't alter the federal insurance of deposits, federal regulatory powers or company operations, a spokesman said.@@@@1@20@@oe@2-2-2013
21578001@unknown@formal@none@1@S@It was the second anniversary of the 1987 crash, but this time it was different.@@@@1@15@@oe@2-2-2013
21578002@unknown@formal@none@1@S@Stocks rallied on good earnings reports and on data that showed less inflation than expected.@@@@1@15@@oe@2-2-2013
21578003@unknown@formal@none@1@S@Blue chips led the march up in heavy trading.@@@@1@9@@oe@2-2-2013
21578004@unknown@formal@none@1@S@The Dow Jones Industrial Average rose 39.55 points to 2683.20.@@@@1@10@@oe@2-2-2013
21578005@unknown@formal@none@1@S@The 30 industrials led the market higher from the opening bell as foreign buyers stepped in.@@@@1@16@@oe@2-2-2013
21578006@unknown@formal@none@1@S@By afternoon, the broader market joined the advance in full strength.@@@@1@11@@oe@2-2-2013
21578007@unknown@formal@none@1@S@Standard & Poor's 500-stock Index rose 5.37 to 347.13 and the Nasdaq composite index jumped 7.52 to 470.80.@@@@1@18@@oe@2-2-2013
21578008@unknown@formal@none@1@S@New York Stock Exchange volume swelled to 198,120,000 shares.@@@@1@9@@oe@2-2-2013
21578009@unknown@formal@none@1@S@The industrials were up about 60 points in the afternoon, but cautious investors took profits before the close.@@@@1@18@@oe@2-2-2013
21578010@unknown@formal@none@1@S@Traders said a variety of factors triggered the rally.@@@@1@9@@oe@2-2-2013
21578011@unknown@formal@none@1@S@The consumer price index rose 0.2% in September, while many economists were looking for a 0.4% increase.@@@@1@17@@oe@2-2-2013
21578012@unknown@formal@none@1@S@Stock-index arbitrage buy programs -- in which traders buy stock against offsetting positions in futures to lock in price differences -- helped the rally's momentum.@@@@1@25@@oe@2-2-2013
21578013@unknown@formal@none@1@S@The euphoria was such that investors responded to good earnings reports of companies such as American Express, while ignoring the disappointing profits of companies such as Caterpillar, analysts said.@@@@1@29@@oe@2-2-2013
21578014@unknown@formal@none@1@S@Stock-index arbitrage trading was a minor influence in yesterday's rally, traders said.@@@@1@12@@oe@2-2-2013
21578015@unknown@formal@none@1@S@Institutional buyers were the main force pushing blue chips higher.@@@@1@10@@oe@2-2-2013
21578016@unknown@formal@none@1@S@To the amazement of some traders, takeover stocks were climbing again.@@@@1@11@@oe@2-2-2013
21578017@unknown@formal@none@1@S@Hilton rose 2 7/8 to 100, for example.@@@@1@8@@oe@2-2-2013
21578018@unknown@formal@none@1@S@Last Friday, takeover traders spilled out of Hilton, knocking the stock down 21 1/2 to 85.@@@@1@16@@oe@2-2-2013
21578019@unknown@formal@none@1@S@Among other stocks involved in restructurings or rumored to be so: Holiday Corp. gained 1 7/8 to 73 and Honeywell rose 2 7/8 to 81 1/2.@@@@1@26@@oe@2-2-2013
21578020@unknown@formal@none@1@S@One floor trader noted in astonishment that nobody seemed to mind the news that British Airways isn't making a special effort to revive the UAL buy-out.@@@@1@26@@oe@2-2-2013
21578021@unknown@formal@none@1@S@The announcement of the buy-out's troubles triggered the market's nose dive a week ago.@@@@1@14@@oe@2-2-2013
21578022@unknown@formal@none@1@S@Takeover enthusiasm may have been renewed when an investor group disclosed yesterday that it had obtained all the financing required to complete its $1.6 billion leveraged buy-out of American Medical International.@@@@1@31@@oe@2-2-2013
21578023@unknown@formal@none@1@S@"That's put some oomph back into this market," said Peter VandenBerg, a vice president of equity trading at Shearson Lehman Hutton.@@@@1@21@@oe@2-2-2013
21578024@unknown@formal@none@1@S@But some traders thought there was less to the rally than met the eye.@@@@1@14@@oe@2-2-2013
21578025@unknown@formal@none@1@S@"There is no strength behind this rally," asserted Chung Lew, head trader at Kleinwort Benson North America.@@@@1@17@@oe@2-2-2013
21578026@unknown@formal@none@1@S@"It's traders squaring positions.@@@@1@4@@oe@2-2-2013
21578027@unknown@formal@none@1@S@It's not good; the market is setting up for another fall."@@@@1@11@@oe@2-2-2013
21578028@unknown@formal@none@1@S@Indeed, many traders said that uncertainty about today's monthly expiration of stocks-index futures and options, and options on individual stocks, prompted a lot of buying by speculative traders who were unwinding positions that were bets on declining stock prices.@@@@1@39@@oe@2-2-2013
21578029@unknown@formal@none@1@S@The number of outstanding contracts in the October Major Market Index jumped from 5,273 on Friday to 9,023 on Monday.@@@@1@20@@oe@2-2-2013
21578030@unknown@formal@none@1@S@The MMI is a 20-stock index that mimics the Dow Jones Industrial Average.@@@@1@13@@oe@2-2-2013
21578031@unknown@formal@none@1@S@Outstanding contracts are those that remain to be liquidated.@@@@1@9@@oe@2-2-2013
21578032@unknown@formal@none@1@S@By Wednesday, the outstanding October contracts amounted to 8,524, representing about $1.13 billion in stock, noted Donald Selkin, head of stock-index futures research at Prudential-Bache Securities, who expects a volatile expiration today.@@@@1@32@@oe@2-2-2013
21578033@unknown@formal@none@1@S@"There has been a tremendous increase" in MMI positions, Mr. Selkin said.@@@@1@12@@oe@2-2-2013
21578034@unknown@formal@none@1@S@Consumer stocks once again set the pace for blue-chip issues.@@@@1@10@@oe@2-2-2013
21578035@unknown@formal@none@1@S@Philip Morris added 1 1/8 to 44 1/2 in Big Board composite trading of 3.7 million shares, Coca-Cola Co. gained 2 3/8 to 70 3/8, Merck gained 1 3/8 to 77 3/8 and American Telephone & Telegraph advanced 7/8 to 43 3/8 on 2.5 million shares.@@@@1@46@@oe@2-2-2013
21578036@unknown@formal@none@1@S@American Medical jumped 1 7/8 to 23 5/8.@@@@1@8@@oe@2-2-2013
21578037@unknown@formal@none@1@S@IMA Acquisition, an investor group that includes First Boston and the Pritzker family of Chicago, said Chemical Bank had made arrangements for 23 other banks to provide $509 million in bank financing for the buy-out offer.@@@@1@36@@oe@2-2-2013
21578038@unknown@formal@none@1@S@Chemical and six other banks, along with First Boston, are providing the rest of the $1.6 billion.@@@@1@17@@oe@2-2-2013
21578039@unknown@formal@none@1@S@Elsewhere on the takeover front, Time Warner advanced 2 5/8 to 136 5/8 and Warner Communications tacked on 7/8 to 63 7/8.@@@@1@22@@oe@2-2-2013
21578040@unknown@formal@none@1@S@The Delaware Supreme Court affirmed a ruling that barred Chris-Craft Industries from voting its Warner preferred stock as a separate class in deciding on the companies' proposed merger.@@@@1@28@@oe@2-2-2013
21578041@unknown@formal@none@1@S@Paramount Communications climbed 1 1/4 to 58 1/2 and MCA rose 1 1/2 to 64; both media companies have long been mentioned as potential acquisition candidates.@@@@1@26@@oe@2-2-2013
21578042@unknown@formal@none@1@S@Among other actual and rumored targets, Woolworth rose 1 1/4 to 60 1/2, Upjohn went up 1 1/8 to 39 3/4, Armstrong World Industries gained 1 to 40 1/8 and Kollmorgen rose 3/4 to 13 7/8.@@@@1@36@@oe@2-2-2013
21578043@unknown@formal@none@1@S@In addition: -- Soo Line jumped 2 3/4 to 20 1/4, above the $19.50 a share that Canadian Pacific offered for the company in a takeover proposal.@@@@1@27@@oe@2-2-2013
21578044@unknown@formal@none@1@S@-- Xtra gained 1 1/8 to 27 1/8.@@@@1@8@@oe@2-2-2013
21578045@unknown@formal@none@1@S@Investor Robert M. Gintel, who owns a 4.7% stake in the company, said he plans a proxy fight for control of its board.@@@@1@23@@oe@2-2-2013
21578046@unknown@formal@none@1@S@-- Golden Nugget rose 2 to 28 1/4.@@@@1@8@@oe@2-2-2013
21578047@unknown@formal@none@1@S@Its board approved the repurchase of as many as three million common shares, or about 17% of its shares outstanding.@@@@1@20@@oe@2-2-2013
21578048@unknown@formal@none@1@S@Buying interest also resurfaced in the technology sector, including International Business Machines, whose board approved a $1 billion increase in its stock buy-back program.@@@@1@24@@oe@2-2-2013
21578049@unknown@formal@none@1@S@IBM rose 2 3/8 to 104 1/8 as 2.2 million shares changed hands.@@@@1@13@@oe@2-2-2013
21578050@unknown@formal@none@1@S@Compaq Computer soared 4 5/8 to 111 1/8 on 1.8 million shares in response to the company's announcement of plans to introduce several products next month.@@@@1@26@@oe@2-2-2013
21578051@unknown@formal@none@1@S@Digital Equipment gained 1 3/8 to 89 3/4 despite reporting earnings for the September quarter that were on the low end of expectations.@@@@1@23@@oe@2-2-2013
21578052@unknown@formal@none@1@S@Among other technology issues, Cray Research rose 1 5/8 to 37, Hewlett-Packard added 1 1/4 to 50 1/4, Tandem Computers rallied 1 1/8 to 25 3/4, Data General rose 3/4 to 14 1/2 and Motorola gained 2 3/8 to 59 1/4.@@@@1@41@@oe@2-2-2013
21578053@unknown@formal@none@1@S@On the other hand, Symbol Technologies dropped 1 1/4 to 18 1/2 after Shearson Lehman Hutton lowered its short-term investment rating on the stock and its 1989 earnings estimate, and Commodore International fell 7/8 to 8 after the company said it expects to post a loss for the September quarter.@@@@1@50@@oe@2-2-2013
21578054@unknown@formal@none@1@S@Insurance stocks continued to climb on expectations that premium rates will rise in the aftermath of the earthquake in the San Francisco area.@@@@1@23@@oe@2-2-2013
21578055@unknown@formal@none@1@S@American International Group climbed 4 to 106 5/8, General Re rose 3 1/8 to 89 5/8, Kemper added 2 1/2 to 48, AON went up 1 3/8 to 36 and Chubb rose 1 1/4 to 82 1/4.@@@@1@37@@oe@2-2-2013
21578056@unknown@formal@none@1@S@Stocks of major toy makers rallied in the wake of strong third-quarter earnings reports.@@@@1@14@@oe@2-2-2013
21578057@unknown@formal@none@1@S@Mattel added 1 1/4 to 19 5/8, Tonka firmed 1 to 18 1/2 and Lewis Galoob Toys rose 7/8 to 13 5/8 on the Big Board, while Hasbro gained 1 to 21 7/8 on the American Stock Exchange.@@@@1@38@@oe@2-2-2013
21578058@unknown@formal@none@1@S@Capital Cities-ABC surged 42 5/8 to 560.@@@@1@7@@oe@2-2-2013
21578059@unknown@formal@none@1@S@Kidder Peabody raised its investment rating on the stock and its earnings estimates for 1989 and 1990, based on optimism that the company's ABC television network will continue to fare well in the ratings.@@@@1@34@@oe@2-2-2013
21578060@unknown@formal@none@1@S@Dun & Bradstreet lost 1 7/8 to 51 7/8 on 1.8 million shares.@@@@1@13@@oe@2-2-2013
21578061@unknown@formal@none@1@S@Merrill Lynch lowered its short-term rating on the stock and its estimate of 1990 earnings, citing a sales slowdown in the company's credit-rating business.@@@@1@24@@oe@2-2-2013
21578062@unknown@formal@none@1@S@Pinnacle West Capital, which suspended its common-stock dividend indefinitely and reported a 91% decline in third-quarter earnings, fell 5/8 to 11 3/8.@@@@1@22@@oe@2-2-2013
21578063@unknown@formal@none@1@S@The Amex Market Value Index recorded its sharpest gain of the year by climbing 4.74 to 382.81.@@@@1@17@@oe@2-2-2013
21578064@unknown@formal@none@1@S@Volume totaled 14,580,000 shares.@@@@1@4@@oe@2-2-2013
21578065@unknown@formal@none@1@S@B.A.T Industries, the most active Amex issue, rose 3/8 to 12 3/8.@@@@1@12@@oe@2-2-2013
21578066@unknown@formal@none@1@S@The company received shareholder approval for its restructuring plan, designed to fend off a hostile takeover bid from a group headed by financier Sir James Goldsmith.@@@@1@26@@oe@2-2-2013
21578067@unknown@formal@none@1@S@Chambers Development Class A jumped 3 1/8 to 37 1/8 and Class B rose 2 5/8 to 37 1/4.@@@@1@19@@oe@2-2-2013
21578068@unknown@formal@none@1@S@The company said six officers are buying a total of $1.5 million of its stock.@@@@1@15@@oe@2-2-2013
21578069@unknown@formal@none@1@S@TRC Cos., the target of an investigation by the U.S. inspector general, dropped 2 to 10 3/4.@@@@1@17@@oe@2-2-2013
21578070@unknown@formal@none@1@S@The probe involves testing procedures used on certain government contracts by the company's Metatrace unit.@@@@1@15@@oe@2-2-2013
21579001@unknown@formal@none@1@S@Avondale Industries Inc., New Orleans, received a $23 million contract from the Navy to enlarge by 50% the capacity of an auxiliary oiler.@@@@1@23@@oe@2-2-2013
21579002@unknown@formal@none@1@S@The award results from the Navy's exercising of an option in an earlier contract it awarded Avondale.@@@@1@17@@oe@2-2-2013
21580001@unknown@formal@none@1@S@Richard J. Pinola was elected to the board of this personnel consulting concern, increasing its size to nine members.@@@@1@19@@oe@2-2-2013
21580002@unknown@formal@none@1@S@Mr. Pinola is president and chief operating officer of Penn Mutual Life Insurance Co.@@@@1@14@@oe@2-2-2013
21581001@unknown@formal@none@1@S@The Senate rejected a constitutional amendment that President Bush sought to protect the U.S. flag from desecration.@@@@1@17@@oe@2-2-2013
21581002@unknown@formal@none@1@S@The 51-48 roll call fell well short of the two-thirds majority needed to approve changes to the Constitution.@@@@1@18@@oe@2-2-2013
21581003@unknown@formal@none@1@S@The vote, in which 11 GOP lawmakers voted against Mr. Bush's position, was a victory for Democratic leaders, who opposed the amendment as an intrusion on the Bill of Rights.@@@@1@30@@oe@2-2-2013
21581004@unknown@formal@none@1@S@"We can support the American flag without changing the American Constitution," said Senate Majority Leader George Mitchell of Maine.@@@@1@19@@oe@2-2-2013
21581005@unknown@formal@none@1@S@In order to defuse pressure for an amendment, Mr. Mitchell and House Speaker Thomas Foley (D., Wash.) had arranged for lawmakers to pass a statute barring flag desecration before voting on the constitutional change.@@@@1@34@@oe@2-2-2013
21581006@unknown@formal@none@1@S@Mr. Bush said he would allow the bill to become law without his signature, because he said only a constitutional amendment can protect the flag adequately.@@@@1@26@@oe@2-2-2013
21581007@unknown@formal@none@1@S@In June, the Supreme Court threw out the conviction of a Texas man who set a flag afire during a 1984 demonstration, saying he was "engaging in political expression" that is protected by the First Amendment.@@@@1@36@@oe@2-2-2013
21582001@unknown@formal@none@1@S@If you think you have stress-related problems on the job, there's good news and bad news.@@@@1@16@@oe@2-2-2013
21582002@unknown@formal@none@1@S@You're probably right, and you aren't alone.@@@@1@7@@oe@2-2-2013
21582003@unknown@formal@none@1@S@A new Gallup Poll study commissioned by the New York Business Group on Health, found that a full 25% of the work force at companies may suffer from anxiety disorders or a stress-related illness, with about 13% suffering from depression.@@@@1@40@@oe@2-2-2013
21582004@unknown@formal@none@1@S@The study surveyed a national group of medical directors, personnel managers and employee assistance program directors about their perceptions of these problems in their companies.@@@@1@25@@oe@2-2-2013
21582005@unknown@formal@none@1@S@It is one of a series of studies on health commissioned by the New York Business Group, a non-profit organization with about 300 members.@@@@1@24@@oe@2-2-2013
21582006@unknown@formal@none@1@S@The stress study was undertaken because problems related to stress "are much more prevalent than they seem," said Leon J. Warshaw, executive director of the business group.@@@@1@27@@oe@2-2-2013
21582007@unknown@formal@none@1@S@In presenting the study late last week, Dr. Warshaw estimated the cost of these types of disorders to business is substantial.@@@@1@21@@oe@2-2-2013
21582008@unknown@formal@none@1@S@Occupational disability related to anxiety, depression and stress costs about $8,000 a case in terms of worker's compensation.@@@@1@18@@oe@2-2-2013
21582009@unknown@formal@none@1@S@In terms of days lost on the job, the study estimated that each affected employee loses about 16 work days a year because of stress, anxiety or depression.@@@@1@28@@oe@2-2-2013
21582010@unknown@formal@none@1@S@He added that the cost for stress-related compensation claims is about twice the average for all injury claims.@@@@1@18@@oe@2-2-2013
21582011@unknown@formal@none@1@S@"We hope to sensitize employers" to recognize the problems so they can do something about them, Dr. Warshaw said.@@@@1@19@@oe@2-2-2013
21582012@unknown@formal@none@1@S@Early intervention into these types of problems can apparently save businesses long-term expense associated with hospitalization, which sometimes results when these problems go untreated for too long.@@@@1@27@@oe@2-2-2013
21582013@unknown@formal@none@1@S@Even the courts are beginning to recognize the link between jobs and stress-related disorders in compensation cases, according to a survey by the National Council on Compensation Insurance.@@@@1@28@@oe@2-2-2013
21582014@unknown@formal@none@1@S@But although 56% of the respondents in the study indicated that mental-health problems were fairly pervasive in the workplace, there is still a social stigma associated with people seeking help.@@@@1@30@@oe@2-2-2013
21582015@unknown@formal@none@1@S@The disorders, which 20 years ago struck middle-age and older people, "now strike people at the height of productivity," says Robert M.A. Hirschfeld, of the National Institute of Mental Health, who spoke at the presentation of the study's findings.@@@@1@39@@oe@2-2-2013
21582016@unknown@formal@none@1@S@The poll showed that company size had a bearing on a manager's view of the problem, with 65% of those in companies of more than 15,000 employees saying stress-related problems were "fairly pervasive" and 55% of those in companies with fewer than 4,000 employees agreeing.@@@@1@45@@oe@2-2-2013
21582017@unknown@formal@none@1@S@The poll also noted fear of a takeover as a stress-producing event in larger companies.@@@@1@15@@oe@2-2-2013
21582018@unknown@formal@none@1@S@More than eight in 10 respondents reported such a stress-provoking situation in their company.@@@@1@14@@oe@2-2-2013
21582019@unknown@formal@none@1@S@Mid-sized companies were most affected by talk of layoffs or plant closings.@@@@1@12@@oe@2-2-2013
21582020@unknown@formal@none@1@S@The study, which received funding from Upjohn Co., which makes several drugs to treat stress-related illnesses, also found 47% of the managers said stress, anxiety and depression contribute to decreased production.@@@@1@31@@oe@2-2-2013
21582021@unknown@formal@none@1@S@Alcohol and substance abuse as a result of stress-related problems was cited by 30% of those polled.@@@@1@17@@oe@2-2-2013
21582022@unknown@formal@none@1@S@Although Dr. Warshaw points out that stress and anxiety have their positive uses, "stress perceived to be threatening implies a component of fear and anxiety that may contribute to burnout."@@@@1@30@@oe@2-2-2013
21582023@unknown@formal@none@1@S@He also noted that various work environments, such as night work, have their own "stressors."@@@@1@15@@oe@2-2-2013
21582024@unknown@formal@none@1@S@"We all like stress, but there's a limit," says Paul D'Arcy, of Rohrer, Hibler & Replogle, a corporate psychology and management consulting firm.@@@@1@23@@oe@2-2-2013
21582025@unknown@formal@none@1@S@The problem, says Mr. D'Arcy, a psychologist, is that "it's very hard to get any hard measures on how stress affects job performance.@@@@1@23@@oe@2-2-2013
21583001@unknown@formal@none@1@S@For Cheap Air Fares, Spend Christmas Aloft@@@@1@7@@oe@2-2-2013
21583002@unknown@formal@none@1@S@IT ISN'T TRUE that a 90-year old clergyman on a mission of mercy to a disaster area on Christmas Day can fly free.@@@@1@23@@oe@2-2-2013
21583003@unknown@formal@none@1@S@But his circumstances are among the few that can qualify for the handful of really cheap airline tickets remaining in America.@@@@1@21@@oe@2-2-2013
21583004@unknown@formal@none@1@S@In recent years, carriers have become much more picky about who can fly on the cheap.@@@@1@16@@oe@2-2-2013
21583005@unknown@formal@none@1@S@But there still are a few ways today's traveler can qualify under the airline's many restrictions.@@@@1@16@@oe@2-2-2013
21583006@unknown@formal@none@1@S@One of the best deals, though, may mean skipping Christmas dinner with the relatives.@@@@1@14@@oe@2-2-2013
21583007@unknown@formal@none@1@S@This week, many carriers are announcing cut-rate fares designed to get people to fly on some of the most hallowed -- and slowest -- days of the year, including Christmas.@@@@1@30@@oe@2-2-2013
21583008@unknown@formal@none@1@S@In recent years, the airlines had waited until the last moment to court Christmas season vacationers with bargain fares.@@@@1@19@@oe@2-2-2013
21583009@unknown@formal@none@1@S@That approach flopped: Last Christmas Day, a USAir Group Inc. DC-9 jetliner flew about seven passengers from Chicago to Pittsburgh.@@@@1@20@@oe@2-2-2013
21583010@unknown@formal@none@1@S@So this year, the airlines are getting a jump on holiday discounts.@@@@1@12@@oe@2-2-2013
21583011@unknown@formal@none@1@S@They are cutting ticket prices by as much as 70% from normal levels for travel to most U.S. locations on Dec. 24, 25, 29, 30 and 31, and Jan. 4, 5 and 6.@@@@1@33@@oe@2-2-2013
21583012@unknown@formal@none@1@S@The promotions -- dubbed everything from 'Tis the Season to be Jolly to Kringle fares -- put round-trip fares at $98, $148 and $198.@@@@1@24@@oe@2-2-2013
21583013@unknown@formal@none@1@S@"They're trying to keep planes flying on days they'd normally park them," says Roger Bard, president of Mr. Mitchell Travel Service in Burnsville, N.C.@@@@1@24@@oe@2-2-2013
21583014@unknown@formal@none@1@S@Expect, of course, sky-high prices on other dates near the holidays when the airlines know vacationers are eager to travel.@@@@1@20@@oe@2-2-2013
21583015@unknown@formal@none@1@S@Consider Adopting Your Spouse's Name@@@@1@5@@oe@2-2-2013
21583016@unknown@formal@none@1@S@IF CONTINENTAL Airlines has its way, couples like Marlo Thomas and Phil Donahue may find it a hassle to qualify for some new discounts.@@@@1@24@@oe@2-2-2013
21583017@unknown@formal@none@1@S@Continental, a Texas Air Corp. unit, recently unveiled a marketing program offering free companion tickets to business-class and first-class passengers on international flights.@@@@1@23@@oe@2-2-2013
21583018@unknown@formal@none@1@S@The Continental catch: Only immediate family members are allowed, and they must have the same last name as the buyer of the ticket or legal proof they're related.@@@@1@28@@oe@2-2-2013
21583019@unknown@formal@none@1@S@That irritates many women who haven't taken their husbands' last name.@@@@1@11@@oe@2-2-2013
21583020@unknown@formal@none@1@S@"What a bunch of nonsense," says Jessica Crosby, president of the New York chapter of the National Association of Women Business Owners.@@@@1@22@@oe@2-2-2013
21583021@unknown@formal@none@1@S@"This sets things way back."@@@@1@5@@oe@2-2-2013
21583022@unknown@formal@none@1@S@Continental's logic: It doesn't want business companions abusing the promotion by falsely claiming to be related.@@@@1@16@@oe@2-2-2013
21583023@unknown@formal@none@1@S@"We accommodate their choice of names by allowing them to demonstrate" family affiliation with legal documents, says Jim O'Donnell, a senior vice president.@@@@1@23@@oe@2-2-2013
21583024@unknown@formal@none@1@S@But gay rights advocates are angry, too.@@@@1@7@@oe@2-2-2013
21583025@unknown@formal@none@1@S@The Lambda Legal Defense and Education Fund of New York City has received complaints from homosexual couples whom the airline doesn't recognize as family.@@@@1@24@@oe@2-2-2013
21583026@unknown@formal@none@1@S@"It's certainly discrimination," says attorney Evan Wolfson, whose group forced Trans World Airlines this year to change a rule that allowed travelers to transfer frequent flier awards only to family members.@@@@1@31@@oe@2-2-2013
21583027@unknown@formal@none@1@S@Take Your Vacation In a Hurricane Area@@@@1@7@@oe@2-2-2013
21583028@unknown@formal@none@1@S@WHEN HURRICANE Hugo careened through the Caribbean and the Atlantic coast states, it downed electric and telephone lines, shot coconuts through cottage rooftops, shattered windows and uprooted thousands of lives.@@@@1@30@@oe@2-2-2013
21583029@unknown@formal@none@1@S@It also lowered some air fares.@@@@1@6@@oe@2-2-2013
21583030@unknown@formal@none@1@S@Since the hurricane, Midway Airlines Inc. and American Airlines, a unit of AMR Corp., trimmed their one-way fares to the Virgin Islands to $109 from prices that were at times double that before the storm.@@@@1@35@@oe@2-2-2013
21583031@unknown@formal@none@1@S@The fares are code-named Hugo, Compassion and Virgin Islands Aid.@@@@1@10@@oe@2-2-2013
21583032@unknown@formal@none@1@S@(Airlines aren't lowering fares to Northern California following this week's earthquake, but reservation agents can waive advance-purchase restrictions on discount fares for emergency trips.)@@@@1@24@@oe@2-2-2013
21583033@unknown@formal@none@1@S@Some hotels in the hurricane-stricken Caribbean promise money-back guarantees.@@@@1@9@@oe@2-2-2013
21583034@unknown@formal@none@1@S@In Myrtle Beach, S.C., the damaged Yachtsman Resort offers daily rates as low as $35, or as much as 22% below regular prices.@@@@1@23@@oe@2-2-2013
21583035@unknown@formal@none@1@S@Says Michele Hoffman, a clerk in the resort's front office: "We don't have the outdoor pool, the pool table, ping pong table, snack bar or VCR, but we still have the indoor pool and Jacuzzi."@@@@1@35@@oe@2-2-2013
21583036@unknown@formal@none@1@S@Just Wait Until You're a Bit Older@@@@1@7@@oe@2-2-2013
21583037@unknown@formal@none@1@S@SENIOR CITIZENS have long received cheap air fares.@@@@1@8@@oe@2-2-2013
21583038@unknown@formal@none@1@S@This year, the older someone is the bigger the discount.@@@@1@10@@oe@2-2-2013
21583039@unknown@formal@none@1@S@A senior citizen between 62 and 70 saves 70% off regular coach fare.@@@@1@13@@oe@2-2-2013
21583040@unknown@formal@none@1@S@Travelers up to age 99 get a percentage discount matching their age.@@@@1@12@@oe@2-2-2013
21583041@unknown@formal@none@1@S@And centenarians fly free in first class.@@@@1@7@@oe@2-2-2013
21583042@unknown@formal@none@1@S@Next month, Northwest Airlines says, a 108-year-old Lansing, Mich., woman is taking it up on the offer to fly with her 72-year-old son to Tampa, Fla.@@@@1@26@@oe@2-2-2013
21583043@unknown@formal@none@1@S@Last year when Northwest first offered the promotion, only six centenarians flew free.@@@@1@13@@oe@2-2-2013
21583044@unknown@formal@none@1@S@If All Else Fails. . . .@@@@1@7@@oe@2-2-2013
21583045@unknown@formal@none@1@S@THE NATION'S carriers also provide discounts to Red Cross workers, retired military personnel and medical students.@@@@1@16@@oe@2-2-2013
21583046@unknown@formal@none@1@S@There's even a special fare for clergy that doesn't require the usual stay over Saturday night.@@@@1@16@@oe@2-2-2013
21583047@unknown@formal@none@1@S@That way, they can be home in time for work Sunday.@@@@1@11@@oe@2-2-2013
21584001@unknown@formal@none@1@S@The British Petroleum Co. PLC said its BP Exploration unit has produced the first oil from its Don oilfield in the North Sea.@@@@1@23@@oe@2-2-2013
21584002@unknown@formal@none@1@S@In an official release, BP said initial production from the field was 11,000 barrels a day, and that it expects peak output from the field of 15,000 barrels a day to be reached in 1990.@@@@1@35@@oe@2-2-2013
21585001@unknown@formal@none@1@S@As the sponsor of the "Older Americans Freedom to Work Act," which would repeal the Social Security earnings limit for people aged 65 and older, I applaud your strong endorsement to repeal this Depression-era fossil.@@@@1@35@@oe@2-2-2013
21585002@unknown@formal@none@1@S@For every dollar earned over $8,880, Social Security recipients lose 50 cents of their Social Security benefits; it's like a 50% marginal tax.@@@@1@23@@oe@2-2-2013
21585003@unknown@formal@none@1@S@But the compounded effects of "seniors only" taxes result in truly catastrophic marginal tax rates.@@@@1@15@@oe@2-2-2013
21585004@unknown@formal@none@1@S@Imagine a widow who wants to maintain her standard of living at the same level she had before she had to pay the catastrophic surtax.@@@@1@25@@oe@2-2-2013
21585005@unknown@formal@none@1@S@Although this widow earns only twice the minimum wage, largely due to the earnings limit, she would have to earn an additional $4,930 to offset her catastrophic surtax of $496.@@@@1@30@@oe@2-2-2013
21585006@unknown@formal@none@1@S@Eliminating the earnings limit would greatly help seniors and reduce the deficit.@@@@1@12@@oe@2-2-2013
21585007@unknown@formal@none@1@S@Repeal would generate more in new taxes than the government would lose in increased Social Security benefit payments.@@@@1@18@@oe@2-2-2013
21585008@unknown@formal@none@1@S@We now need support from the Democrats on the Rules Committee in order to include earnings-limit reform in the Reconciliation Bill.@@@@1@21@@oe@2-2-2013
21585009@unknown@formal@none@1@S@Since all four Republicans on the committee are co-sponsors of my bill, it is the Democrats who will be held fully accountable if an earnings test amendment is not allowed from the floor.@@@@1@33@@oe@2-2-2013
21585010@unknown@formal@none@1@S@The time is now to lift the burdensome Social Security earnings limit from the backs of our nation's seniors.@@@@1@19@@oe@2-2-2013
21585011@unknown@formal@none@1@S@Rep. J. Dennis Hastert (R., Ill.)@@@@1@6@@oe@2-2-2013
21586001@unknown@formal@none@1@S@When his Seventh Avenue fur business here was flying high 20 years ago, Jack Purnick had 25 workers and a large factory.@@@@1@22@@oe@2-2-2013
21586002@unknown@formal@none@1@S@Now his half-dozen employees work in an eighth-floor shop that he says is smaller than his old storage room.@@@@1@19@@oe@2-2-2013
21586003@unknown@formal@none@1@S@He also says he is losing money now.@@@@1@8@@oe@2-2-2013
21586004@unknown@formal@none@1@S@He blames imports.@@@@1@3@@oe@2-2-2013
21586005@unknown@formal@none@1@S@But just down Seventh Avenue, where about 75% of U.S. fur garments are made, Larry Rosen has acquired two retail outlets, broadened his fur-making line and expanded into leather.@@@@1@29@@oe@2-2-2013
21586006@unknown@formal@none@1@S@He credits imports.@@@@1@3@@oe@2-2-2013
21586007@unknown@formal@none@1@S@The difference lies in how the two entrepreneurial furriers reacted to the foreign competition and transformation of their industry over the past 10 years.@@@@1@24@@oe@2-2-2013
21586008@unknown@formal@none@1@S@One stuck to old-line business traditions, while the other embraced the change.@@@@1@12@@oe@2-2-2013
21586009@unknown@formal@none@1@S@"The small, good fur salon is not what it used to be," says Mr. Purnick, 75 years old.@@@@1@18@@oe@2-2-2013
21586010@unknown@formal@none@1@S@"We make the finest product in the world, and the Americans are being kicked around."@@@@1@15@@oe@2-2-2013
21586011@unknown@formal@none@1@S@Mr. Rosen, though, believes imports have reinvigorated the industry in which he has worked for most of his 57 years.@@@@1@20@@oe@2-2-2013
21586012@unknown@formal@none@1@S@"You've got some minds here that won't think progressively," he says.@@@@1@11@@oe@2-2-2013
21586013@unknown@formal@none@1@S@Import competition for U.S. furs has risen sharply since furriers started aggressively marketing "working-girl mink" and similar lower-priced imported furs in recent years.@@@@1@23@@oe@2-2-2013
21586014@unknown@formal@none@1@S@Merchants discovered a consumer largely ignored by higher-priced furriers: the younger woman -- even in her late 20s -- who never thought she could buy a mink.@@@@1@27@@oe@2-2-2013
21586015@unknown@formal@none@1@S@The new market helped boost U.S. fur sales to about $1.8 billion a year now, triple the level in the late 1970s.@@@@1@22@@oe@2-2-2013
21586016@unknown@formal@none@1@S@It also opened the door to furs made in South Korea, China, Hong Kong and other countries.@@@@1@17@@oe@2-2-2013
21586017@unknown@formal@none@1@S@Jindo Furs, a large South Korean maker, says it operates 35 retail outlets in the U.S. and plans to open 15 more by the end of next year.@@@@1@28@@oe@2-2-2013
21586018@unknown@formal@none@1@S@Mr. Purnick and other old-line furriers call many of the the imports unstylish and poorly made.@@@@1@16@@oe@2-2-2013
21586019@unknown@formal@none@1@S@High-end U.S. furriers say these imports haven't squeezed them.@@@@1@9@@oe@2-2-2013
21586020@unknown@formal@none@1@S@But low-priced and middle-priced furriers like Mr. Purnick, who once saturated the five-block Seventh Avenue fur district, say imports have cut their sales.@@@@1@23@@oe@2-2-2013
21586021@unknown@formal@none@1@S@A woman who once would have saved for two or three seasons to buy a U.S.-made mink can now get an imported mink right away for less than $2,000.@@@@1@29@@oe@2-2-2013
21586022@unknown@formal@none@1@S@Yet Mr. Rosen has turned the import phenomenon to his advantage.@@@@1@11@@oe@2-2-2013
21586023@unknown@formal@none@1@S@Early in the decade he saw that fur workers in many foreign countries were willing to work longer hours at lower wages than their American counterparts and were more open to innovation.@@@@1@32@@oe@2-2-2013
21586024@unknown@formal@none@1@S@In 1982, he started a factory in Greece.@@@@1@8@@oe@2-2-2013
21586025@unknown@formal@none@1@S@Two years later, he opened one in West Germany.@@@@1@9@@oe@2-2-2013
21586026@unknown@formal@none@1@S@He also noticed that foreign makers were introducing many variations on the traditional fur, and he decided to follow suit.@@@@1@20@@oe@2-2-2013
21586027@unknown@formal@none@1@S@By combining his strengths in innovation and quality control with the lower costs of production abroad, he says he has been able to produce high-quality goods at low cost.@@@@1@29@@oe@2-2-2013
21586028@unknown@formal@none@1@S@To maintain control over production and avoid overdependence on foreign sources, he says he still makes most of his furs in the U.S.@@@@1@23@@oe@2-2-2013
21586029@unknown@formal@none@1@S@But six years ago he also began importing from the Far East.@@@@1@12@@oe@2-2-2013
21586030@unknown@formal@none@1@S@Inspired by imports, Mr. Rosen now makes fur muffs, hats and flings.@@@@1@12@@oe@2-2-2013
21586031@unknown@formal@none@1@S@This year he produced a men's line and offers dyed furs in red, cherry red, violet, royal blue and forest green.@@@@1@21@@oe@2-2-2013
21586032@unknown@formal@none@1@S@He has leather jackets from Turkey that are lined with eel skin and topped off with raccoon-skin collars.@@@@1@18@@oe@2-2-2013
21586033@unknown@formal@none@1@S@From Asia, he has mink jackets with floral patterns made by using different colored furs.@@@@1@15@@oe@2-2-2013
21586034@unknown@formal@none@1@S@Next he will be testing pictured embroidery (called kalega) made in the Far East.@@@@1@14@@oe@2-2-2013
21586035@unknown@formal@none@1@S@He plans to attach the embroidery to the backs of mink coats and jackets.@@@@1@14@@oe@2-2-2013
21586036@unknown@formal@none@1@S@Besides adding to sales, leathers also attract retailers who may buy furs later, he adds.@@@@1@15@@oe@2-2-2013
21586037@unknown@formal@none@1@S@Other furriers have also benefited from leathers.@@@@1@7@@oe@2-2-2013
21586038@unknown@formal@none@1@S@Seymour Schreibman, the 65-year-old owner of Schreibman Raphael Furs Inc., treats the reverse side of a Persian lambskin to produce a reversible fur-and-leather garment.@@@@1@24@@oe@2-2-2013
21586039@unknown@formal@none@1@S@He says it accounts for 25% of total sales.@@@@1@9@@oe@2-2-2013
21586040@unknown@formal@none@1@S@Mr. Rosen is also pushing retail sales.@@@@1@7@@oe@2-2-2013
21586041@unknown@formal@none@1@S@This year he bought two stores, one in Brooklyn and one in Queens.@@@@1@13@@oe@2-2-2013
21586042@unknown@formal@none@1@S@Other furriers have also placed more weight on retailing.@@@@1@9@@oe@2-2-2013
21586043@unknown@formal@none@1@S@Golden Feldman Furs Inc. began retailing aggressively eight years ago, and now retail sales account for about 20% of gross income.@@@@1@21@@oe@2-2-2013
21586044@unknown@formal@none@1@S@In other moves, Mr. Rosen says he bought a truck three years ago to reach more retailers.@@@@1@17@@oe@2-2-2013
21586045@unknown@formal@none@1@S@Since then he has expanded his fleet and can now bring his furs to the front door of retailers as far away as the Midwest.@@@@1@25@@oe@2-2-2013
21586046@unknown@formal@none@1@S@Small retailers who can't afford to travel to his New York showroom have become fair game.@@@@1@16@@oe@2-2-2013
21586047@unknown@formal@none@1@S@Such moves have helped Mr. Rosen weather the industry slump of recent years.@@@@1@13@@oe@2-2-2013
21586048@unknown@formal@none@1@S@The industry enjoyed six prosperous years beginning in 1980, but since 1986 sales have languished at their $1.8 billion peak.@@@@1@20@@oe@2-2-2013
21586049@unknown@formal@none@1@S@Large furriers such as Antonovich Inc., Fur Vault Inc. and Evans Inc. all reported losses in their latest fiscal years.@@@@1@20@@oe@2-2-2013
21586050@unknown@formal@none@1@S@Aftereffects of the 1987 stock market crash head the list of reasons.@@@@1@12@@oe@2-2-2013
21586051@unknown@formal@none@1@S@In addition, competition has glutted the market with both skins and coats, driving prices down.@@@@1@15@@oe@2-2-2013
21586052@unknown@formal@none@1@S@The animal-rights movement hasn't helped sales.@@@@1@6@@oe@2-2-2013
21586053@unknown@formal@none@1@S@Warm winters over the past two years have trimmed demand, too, furriers complain.@@@@1@13@@oe@2-2-2013
21586054@unknown@formal@none@1@S@And those who didn't move some production overseas suffer labor shortages.@@@@1@11@@oe@2-2-2013
21586055@unknown@formal@none@1@S@"The intensive labor needed to manufacture furs {in the U.S.} is not as available as it was," says Mr. Schreibman, who is starting overseas production.@@@@1@25@@oe@2-2-2013
21586056@unknown@formal@none@1@S@But even those who have found a way to cope with the imports and the slump, fear that furs are losing part of their allure.@@@@1@25@@oe@2-2-2013
21586057@unknown@formal@none@1@S@"People are promoting furs in various ways and taking the glamour out of the fur business," says Stephen Sanders, divisional merchandise manager for Marshall Field's department store in Chicago.@@@@1@29@@oe@2-2-2013
21586058@unknown@formal@none@1@S@"You can't make a commodity out of a luxury," insists Mr. Purnick, the New York furrier.@@@@1@16@@oe@2-2-2013
21586059@unknown@formal@none@1@S@He contends that chasing consumers with low-priced imports will harm the industry in the long run by reducing the prestige of furs.@@@@1@22@@oe@2-2-2013
21586060@unknown@formal@none@1@S@But Mr. Rosen responds: "Whatever people want to buy, I'll sell.@@@@1@11@@oe@2-2-2013
21586061@unknown@formal@none@1@S@The name of the game is to move goods.@@@@1@9@@oe@2-2-2013
21587001@unknown@formal@none@1@S@Four workers at GTE Corp.'s headquarters have been diagnosed as having hepatitis, and city health officials are investigating whether a cafeteria worker may have exposed hundreds of other GTE employees to the viral infection, company and city officials said.@@@@1@39@@oe@2-2-2013
21587002@unknown@formal@none@1@S@The four cases were all reported to GTE's medical director and state and local health authorities.@@@@1@16@@oe@2-2-2013
21587003@unknown@formal@none@1@S@GTE shut down its cafeteria Tuesday afternoon after testing determined that at least one cafeteria worker employed by GTE's private food vending contractor, ARA Services Inc., was suffering from a strain of the virus, officials said.@@@@1@36@@oe@2-2-2013
21587004@unknown@formal@none@1@S@More than 700 people work in the GTE building.@@@@1@9@@oe@2-2-2013
21587005@unknown@formal@none@1@S@The cafeteria remains closed.@@@@1@4@@oe@2-2-2013
21587006@unknown@formal@none@1@S@Dr. Andrew McBride, city health director, said his staff suspects the hepatitis, which can be highly contagious, was spread by the cafeteria worker with the virus.@@@@1@26@@oe@2-2-2013
21587007@unknown@formal@none@1@S@The exact strain of hepatitis that the cafeteria worker contracted hasn't been determined but should be known by the end of the week, Dr. McBride said.@@@@1@26@@oe@2-2-2013
21587008@unknown@formal@none@1@S@Hepatitis A, considered the least dangerous strain of the virus, has been confirmed in at least one GTE employee, company and city officials said.@@@@1@24@@oe@2-2-2013
21587009@unknown@formal@none@1@S@"From a public health point of view we're relieved because hepatitis A is rarely life-threatening," said Dr. Frank Provato, GTE's medical director.@@@@1@22@@oe@2-2-2013
21587010@unknown@formal@none@1@S@"It's a double-edged sword though, because it is also the most contagious kind of hepatitis."@@@@1@15@@oe@2-2-2013
21587011@unknown@formal@none@1@S@GTE officials began posting warning notices about the potential threat to exposure Wednesday morning at various places at the company, said GTE spokesman Thomas Mattausch.@@@@1@25@@oe@2-2-2013
21587012@unknown@formal@none@1@S@The company has begun offering shots of gamma globulin, which will diminish the flu-like symptoms of hepatitis A, in anyone who has contracted the disease, Mr. Mattausch said.@@@@1@28@@oe@2-2-2013
21587013@unknown@formal@none@1@S@"We're strongly recommending that anyone who has eaten in the cafeteria this month have the shot," Mr. Mattausch added, "and that means virtually everyone who works here.@@@@1@27@@oe@2-2-2013
21588001@unknown@formal@none@1@S@I was appalled to read the misstatements of facts in your Oct. 13 editorial "Colombia's Brave Publisher."@@@@1@17@@oe@2-2-2013
21588002@unknown@formal@none@1@S@It is the right-wing guerrillas who are aligned with the drug traffickers, not the left wing.@@@@1@16@@oe@2-2-2013
21588003@unknown@formal@none@1@S@This information was gleaned from your own news stories on the region.@@@@1@12@@oe@2-2-2013
21588004@unknown@formal@none@1@S@Past Colombian government tolerance of the "narcotraficantes" was due to the drug lords' history of wiping out leftists in the hinterlands.@@@@1@21@@oe@2-2-2013
21588005@unknown@formal@none@1@S@Mary Poulin Palo Alto, Calif.@@@@1@5@@oe@2-2-2013
21588006@unknown@formal@none@1@S@I suggest that The Wall Street Journal (as well as other U.S. news publications of like mind) should put its money where its mouth is: Lend computer equipment to replace that damaged at El Espectador, buy ad space, publish stories under the bylines of El Espectador journalists.@@@@1@47@@oe@2-2-2013
21588007@unknown@formal@none@1@S@Perhaps an arrangement could be worked out to "sponsor" El Espectador journalists and staff by paying for added security in exchange for exclusive stories.@@@@1@24@@oe@2-2-2013
21588008@unknown@formal@none@1@S@Reward El Espectador's courage with real support.@@@@1@7@@oe@2-2-2013
21588009@unknown@formal@none@1@S@Douglas B. Evans@@@@1@3@@oe@2-2-2013
21589001@unknown@formal@none@1@S@COCA-COLA Co. (Atlanta) --@@@@1@4@@oe@2-2-2013
21589002@unknown@formal@none@1@S@Anton Amon and George Gourlay were elected vice presidents of this soft-drink company.@@@@1@13@@oe@2-2-2013
21589003@unknown@formal@none@1@S@Mr. Amon, 46 years old, is the company's director of quality assurance; most recently, he served as vice president, operations, for Coca-Cola Enterprises.@@@@1@23@@oe@2-2-2013
21589004@unknown@formal@none@1@S@Mr. Gourlay, 48, is manager for corporate manufacturing operations; he was assistant vice president at the company.@@@@1@17@@oe@2-2-2013
21590001@unknown@formal@none@1@S@In the wake of a slide in sterling, a tailspin in the stock market, and a string of problematic economic indicators, British Chancellor of the Exchequer Nigel Lawson promised gradual improvement in the U.K. economy.@@@@1@35@@oe@2-2-2013
21590002@unknown@formal@none@1@S@In a speech prepared for delivery to London's financial community, Mr. Lawson summed up current economic policy as a battle to wring inflation out of the British economy, using high interest rates as "the essential instrument" to carry out the campaign.@@@@1@41@@oe@2-2-2013
21590003@unknown@formal@none@1@S@Two weeks after boosting base rates to 15%, he pledged that "rates will have to remain high for some time to come."@@@@1@22@@oe@2-2-2013
21590004@unknown@formal@none@1@S@Mr. Lawson also made it clear that he would be watching exchange rates carefully.@@@@1@14@@oe@2-2-2013
21590005@unknown@formal@none@1@S@A sinking pound makes imports more expensive and increases businesses' expectations of future inflation, he argued.@@@@1@16@@oe@2-2-2013
21590006@unknown@formal@none@1@S@In an apparent warning to currency traders who have lately been selling the British currency, he stated that the exchange rates will have a "major role in the assessment of monetary conditions."@@@@1@32@@oe@2-2-2013
21590007@unknown@formal@none@1@S@In reaffirming the current monetary policy of using high interest rates to fight inflation and shore up the pound, Mr. Lawson dismissed other approaches to managing the economy.@@@@1@28@@oe@2-2-2013
21590008@unknown@formal@none@1@S@He said he monitors the money-supply figures, but doesn't give them paramount importance, as some private and government economists have suggested.@@@@1@21@@oe@2-2-2013
21590009@unknown@formal@none@1@S@Mr. Lawson also dismissed the possibility of imposing direct credit controls on Britain's financial system.@@@@1@15@@oe@2-2-2013
21590010@unknown@formal@none@1@S@Mr. Lawson's speech, delivered at the Lord Mayor of London's annual dinner at Mansion House, came on the heels of a grueling period for the U.K. economy.@@@@1@27@@oe@2-2-2013
21590011@unknown@formal@none@1@S@Two weeks ago, in a campaign to blunt inflation at home and arrest a world-wide plunge in the pound, he raised base rates a full percentage point to 15%.@@@@1@29@@oe@2-2-2013
21590012@unknown@formal@none@1@S@Despite the increase, the British currency slid below a perceived threshold of three marks early last week.@@@@1@17@@oe@2-2-2013
21590013@unknown@formal@none@1@S@It was quoted at 2.9428 marks in late New York trading Wednesday.@@@@1@12@@oe@2-2-2013
21590014@unknown@formal@none@1@S@Leading up to the speech was a drumroll of economic statistics suggesting that the British war on inflation will be more bruising than previously assumed.@@@@1@25@@oe@2-2-2013
21590015@unknown@formal@none@1@S@Unemployment in September dropped to 1,695,000, the lowest level since 1980.@@@@1@11@@oe@2-2-2013
21590016@unknown@formal@none@1@S@While lower joblessness is generally good news, the hefty drop last month indicates that the economy isn't slowing down as much as hoped -- despite a doubling of interest rates over the last 16 months.@@@@1@35@@oe@2-2-2013
21590017@unknown@formal@none@1@S@Meanwhile, average earnings in Britain were up 8.75% in August over the previous year.@@@@1@14@@oe@2-2-2013
21590018@unknown@formal@none@1@S@Another inflationary sign came in a surge in building-society lending to a record #10.2 billion ($16.22 billion) last month, a much higher level than economists had predicted.@@@@1@27@@oe@2-2-2013
21590019@unknown@formal@none@1@S@In a separate speech prepared for delivery at the dinner, Robin Leigh-Pemberton, Bank of England governor, conceded that "demand pressures were even more buoyant than had been appreciated" when the British economy was heating up last year.@@@@1@37@@oe@2-2-2013
21590020@unknown@formal@none@1@S@He added that "there's no quick-fix solution" to the economic woes, and said "tight monetary policy is the right approach."@@@@1@20@@oe@2-2-2013
21590021@unknown@formal@none@1@S@Discussing the recent slide in stock prices, the central bank governor stated that "the markets now appear to have steadied" after the "nasty jolt" of the 190.58-point plunge in the Dow Jones Industrial Average a week ago.@@@@1@37@@oe@2-2-2013
21590022@unknown@formal@none@1@S@Although the New York market plunge prompted a 70.5-point drop in the London Financial Times-Stock Exchange 100 Share Index, Mr. Leigh-Pemberton declared "that the experience owed nothing to the particular problems of the British economy."@@@@1@35@@oe@2-2-2013
21590023@unknown@formal@none@1@S@Specifically, he pointed out that compared with the U.S. market, the U.K. has far fewer highly leveraged junk-bond financings.@@@@1@19@@oe@2-2-2013
21590024@unknown@formal@none@1@S@Discussing future monetary arrangements, Mr. Lawson repeated the Thatcher government's commitment to join the exchange rate mechanism of the European Monetary System, but he didn't indicate when.@@@@1@27@@oe@2-2-2013
21591001@unknown@formal@none@1@S@Ing.@@@@1@1@@oe@2-2-2013
21591002@unknown@formal@none@1@S@C. Olivetti & Co., claiming it has won the race in Europe to introduce computers based on a powerful new microprocessor chip, unveiled its CP486 computer yesterday.@@@@1@27@@oe@2-2-2013
21591003@unknown@formal@none@1@S@The product is the first from a European company based on Intel Corp.'s new 32-bit 486tm microprocessor, which works several times faster than previously available chips.@@@@1@26@@oe@2-2-2013
21591004@unknown@formal@none@1@S@Hewlett-Packard Co. became the first company world-wide to announce a product based on the chip earlier this month, but it won't start shipping the computers until early next year.@@@@1@29@@oe@2-2-2013
21591005@unknown@formal@none@1@S@An Olivetti spokesman said the company's factories are already beginning to produce the machine, and that it should be available in Europe by December.@@@@1@24@@oe@2-2-2013
21591006@unknown@formal@none@1@S@"What this means is that Europeans will have these machines in their offices before Americans do," the spokesman said.@@@@1@19@@oe@2-2-2013
21591007@unknown@formal@none@1@S@The new chip "is a very big step in computing, and it is important that Olivetti be one of the first out on the market with this product," said Patricia Meagher Davis, an analyst at James Capel & Co. in London.@@@@1@41@@oe@2-2-2013
21591008@unknown@formal@none@1@S@Executives at Olivetti, whose earnings have been steadily sliding over the past couple of years, have acknowledged that in the past they have lagged at getting new technology to market.@@@@1@30@@oe@2-2-2013
21591009@unknown@formal@none@1@S@Ms. Davis said the new machines could steal some sales away from Olivetti's own minicomputers, but would bring new sales among professionals such as engineers, stockbrokers and medical doctors.@@@@1@29@@oe@2-2-2013
21591010@unknown@formal@none@1@S@Although Olivetti's profits tumbled 40% in the first half of this year, she believes Olivetti's restructuring last fall and its introduction of new products will begin to bear fruit with an earnings rebound next year, especially if it can fulfill its promise to deliver the new machines by December.@@@@1@49@@oe@2-2-2013
21591011@unknown@formal@none@1@S@"We think the worst is over" in the European information-technology market, she said.@@@@1@13@@oe@2-2-2013
21591012@unknown@formal@none@1@S@Depending on the type of software and peripherals used, the machines can serve either as the main computer in a network of many terminals (a role usually filled by a minicomputer), as a technical workstation or as a very fast personal computer.@@@@1@42@@oe@2-2-2013
21591013@unknown@formal@none@1@S@"It's the missing link" in Olivetti's product line between small personal computers and higher-priced minicomputers, the Olivetti spokesman said.@@@@1@19@@oe@2-2-2013
21591014@unknown@formal@none@1@S@He added that Olivetti will continue making its LSX minicomputer line.@@@@1@11@@oe@2-2-2013
21591015@unknown@formal@none@1@S@The machines will cost around $16,250 on average in Europe.@@@@1@10@@oe@2-2-2013
21591016@unknown@formal@none@1@S@The Intel 486 chip can process 15 million instructions per second, or MIPS, while Intel's previous 386 chip could handle only 3 to 6 MIPS.@@@@1@25@@oe@2-2-2013
21591017@unknown@formal@none@1@S@Olivetti also plans to sell the CP486 computer in the U.S. starting next year through Olivetti USA and through its ISC/Bunker Ramo unit, which specializes in automating bank-branch networks.@@@@1@29@@oe@2-2-2013
21592001@unknown@formal@none@1@S@Viatech Inc. said it received approval from the French government for its proposed $44.7 million acquisition of Ferembal S.A.@@@@1@19@@oe@2-2-2013
21592002@unknown@formal@none@1@S@The approval satisfies the remaining conditions of the purchase, which is expected to close within two weeks.@@@@1@17@@oe@2-2-2013
21592003@unknown@formal@none@1@S@erembal, the second-largest maker of food cans in France, had 1988 sales of $150 million.@@@@1@15@@oe@2-2-2013
21592004@unknown@formal@none@1@S@Ferembal has 930 workers at four canning manufacturing plants and one plastic container facility.@@@@1@14@@oe@2-2-2013
21592005@unknown@formal@none@1@S@Viatech makes flexible packaging films and machinery, and materials for the food and pharmaceutical industries.@@@@1@15@@oe@2-2-2013
21593001@unknown@formal@none@1@S@Social Security benefits will rise 4.7% next year to keep pace with inflation, boosting the average monthly benefit to $566 from $541, the Department of Health and Human Services announced.@@@@1@30@@oe@2-2-2013
21593002@unknown@formal@none@1@S@The higher payments will start with Social Security checks received on Jan. 3, 1990.@@@@1@14@@oe@2-2-2013
21593003@unknown@formal@none@1@S@Supplemental Security Income payments to the disabled also will rise 4.7%, starting with checks received on Dec. 29, 1988, increasing the maximum SSI payment to $386 from $368 a month.@@@@1@30@@oe@2-2-2013
21593004@unknown@formal@none@1@S@The inflation adjustment also means that the maximum annual level of earnings subject to the wage tax that generates revenue for the Social Security trust fund will rise to $50,400 in 1990 from $48,000 this year.@@@@1@36@@oe@2-2-2013
21593005@unknown@formal@none@1@S@As mandated by law, the tax rate will rise to 7.65% in 1990 from 7.51% and won't rise any further in the future.@@@@1@23@@oe@2-2-2013
21593006@unknown@formal@none@1@S@This means that the maximum yearly Social Security tax paid by workers and employers each will rise $250.80 next year to $3,855.60.@@@@1@22@@oe@2-2-2013
21593007@unknown@formal@none@1@S@Beneficiaries aged 65 through 69 will be able to earn $9,360 without losing any Social Security benefits in 1990, up from $8,880 this year.@@@@1@24@@oe@2-2-2013
21593008@unknown@formal@none@1@S@The exempt amount for beneficiaries under 65 will rise to $6,840 from $6,480.@@@@1@13@@oe@2-2-2013
21593009@unknown@formal@none@1@S@The adjustments reflect the increase in the consumer price index for urban wage earners and clerical workers from the third quarter of last year to the third quarter of this year.@@@@1@31@@oe@2-2-2013
21594001@unknown@formal@none@1@S@Health-care companies should get healthier in the third quarter.@@@@1@9@@oe@2-2-2013
21594002@unknown@formal@none@1@S@Medical-supply houses are expected to report earnings increases of about 15% on average for the third quarter, despite sales increases of less than 10%, analysts say.@@@@1@26@@oe@2-2-2013
21594003@unknown@formal@none@1@S@To offset sluggish sales growth, companies have been cutting staff, mostly through attrition, and slowing the growth in research and development spending.@@@@1@22@@oe@2-2-2013
21594004@unknown@formal@none@1@S@Sales growth in the quarter was slowed by mounting pressure from groups of buyers, such as hospitals, to hold down prices.@@@@1@21@@oe@2-2-2013
21594005@unknown@formal@none@1@S@Suppliers were also hurt by the stronger U.S. dollar, which makes sales abroad more difficult.@@@@1@15@@oe@2-2-2013
21594006@unknown@formal@none@1@S@In some cases, competition has squeezed margins.@@@@1@7@@oe@2-2-2013
21594007@unknown@formal@none@1@S@Becton, Dickinson & Co., for example, faces stiff competition from a Japanese supplier in the important syringe market.@@@@1@18@@oe@2-2-2013
21594008@unknown@formal@none@1@S@The Franklin Lakes, N.J., company is expected to report sales growth of only 5% to 6%, but should still maintain earnings growth of 10%, says Jerry E. Fuller, an analyst with Duff & Phelps Inc.@@@@1@35@@oe@2-2-2013
21594009@unknown@formal@none@1@S@Among the first of the group to post results, Abbott Laboratories said third-quarter net income jumped 14% to $196 million, or 88 cents a share, from $172 million, or 76 cents a share, a year earlier.@@@@1@36@@oe@2-2-2013
21594010@unknown@formal@none@1@S@Sales for the company, based in Abbott Park, Ill., rose 8.3% to $1.31 billion from $1.21 billion.@@@@1@17@@oe@2-2-2013
21594011@unknown@formal@none@1@S@Baxter International Inc. yesterday reported net climbed 20% in the third period to $102 million, or 34 cents a share, from $85 million, or 28 cents a share, a year earlier.@@@@1@31@@oe@2-2-2013
21594012@unknown@formal@none@1@S@Sales for the Deerfield, Ill., company rose 5.8% to $1.81 billion from $1.71 billion.@@@@1@14@@oe@2-2-2013
21594013@unknown@formal@none@1@S@But not every company expects to report increased earnings.@@@@1@9@@oe@2-2-2013
21594014@unknown@formal@none@1@S@C.R. Bard Inc. yesterday said third-quarter net plunged 51% to $9.9 million, or 18 cents a share, from $20 million, or 35 cents a share, a year earlier.@@@@1@28@@oe@2-2-2013
21594015@unknown@formal@none@1@S@Sales fell 1.2% to $190.1 million from $192.5 million.@@@@1@9@@oe@2-2-2013
21594016@unknown@formal@none@1@S@The Murray Hill, N.J., company said full-year earnings may be off 33 cents a share because the company removed a catheter from the market.@@@@1@24@@oe@2-2-2013
21594017@unknown@formal@none@1@S@In 1988, the company earned $1.38 a share.@@@@1@8@@oe@2-2-2013
21594018@unknown@formal@none@1@S@The Food and Drug Administration had raised questions about the device's design.@@@@1@12@@oe@2-2-2013
21594019@unknown@formal@none@1@S@Some analysts add that third-party pressures to reduce health costs will continue to bedevil companies' bottom lines.@@@@1@17@@oe@2-2-2013
21594020@unknown@formal@none@1@S@Takeover speculation, which has been buoying stocks of supply houses, may also ease, says Peter Sidoti, an analyst with Drexel Burnham Lambert Inc.@@@@1@23@@oe@2-2-2013
21594021@unknown@formal@none@1@S@"As that wanes, you're going to see the stocks probably wane as well," he says.@@@@1@15@@oe@2-2-2013
21594022@unknown@formal@none@1@S@Hospitals companies, meanwhile, are reporting improved earnings.@@@@1@7@@oe@2-2-2013
21594023@unknown@formal@none@1@S@Bolstered by strong performances by its psychiatric hospitals, National Medical Enterprises Inc., Los Angeles, reported net income of $50 million, or 65 cents a share, for the first quarter ended Aug. 31, up from $41 million, or 56 cents a share, a year earlier.@@@@1@44@@oe@2-2-2013
21594024@unknown@formal@none@1@S@Humana Inc., Louisville, Ky., also reported favorable results, with net income of $66.7 million, or 66 cents, in the fourth quarter ended Aug. 31, up from $58.2 million, or 59 cents, a year earlier.@@@@1@34@@oe@2-2-2013
21594025@unknown@formal@none@1@S@Analysts say the handful of hospital companies that are still publicly traded are benefiting from several trends.@@@@1@17@@oe@2-2-2013
21594026@unknown@formal@none@1@S@Most important, hospital admission rates are stabilizing after several years of decline.@@@@1@12@@oe@2-2-2013
21594027@unknown@formal@none@1@S@Moreover, companies have sold off many of their smaller, less-profitable hospitals and have completed painful restructurings.@@@@1@16@@oe@2-2-2013
21594028@unknown@formal@none@1@S@Humana's revenues, for example, are being boosted by large increases in enrollments in the company's health maintenance organizations.@@@@1@18@@oe@2-2-2013
21594029@unknown@formal@none@1@S@Says Todd Richter, an analyst with Dean Witter Reynolds: "The shakeout in the publicly traded companies is over.@@@@1@18@@oe@2-2-2013
21595001@unknown@formal@none@1@S@Initial claims for regular state unemployment benefits rose to a seasonally adjusted 396,000 during the week ended Oct. 7 from 334,000 the previous week, the Labor Department said.@@@@1@28@@oe@2-2-2013
21595002@unknown@formal@none@1@S@The number of people receiving regular state benefits in the week ended Sept. 30 decreased to a seasonally adjusted 2,202,000, or 2.2% of those covered by unemployment insurance, from 2,205,000 the previous week, when the insured unemployment rate also was 2.2%.@@@@1@41@@oe@2-2-2013
21595003@unknown@formal@none@1@S@Counting all state and federal benefit programs, the number of people receiving unemployment benefits in the week ended Sept. 30 fell to 1,809,300 from 1,838,200 a week earlier.@@@@1@28@@oe@2-2-2013
21595004@unknown@formal@none@1@S@These figures aren't seasonally adjusted.@@@@1@5@@oe@2-2-2013
21595005@unknown@formal@none@1@S@A Labor Department spokesman said the unusually high number of initial claims for state unemployment benefits reflects the impact of Hurricane Hugo on southern states, particularly North Carolina and South Carolina.@@@@1@31@@oe@2-2-2013
21595006@unknown@formal@none@1@S@The figure also may reflect initial claims filed by striking Nynex Corp. workers who have become eligible for unemployment benefits, the official said.@@@@1@23@@oe@2-2-2013
21596001@unknown@formal@none@1@S@Digital Equipment Corp. reported a 32% decline in net income on a modest revenue gain in its fiscal first quarter, causing some analysts to predict weaker results ahead than they had expected.@@@@1@32@@oe@2-2-2013
21596002@unknown@formal@none@1@S@Although the second-largest computer maker had prepared Wall Street for a poor quarter, analysts said they were troubled by signs of flat U.S. orders and a slowdown in the rate of gain in foreign orders.@@@@1@35@@oe@2-2-2013
21596003@unknown@formal@none@1@S@The Maynard, Mass., company is in a transition in which it is trying to reduce its reliance on mid-range machines and establish a presence in workstations and mainframes.@@@@1@28@@oe@2-2-2013
21596004@unknown@formal@none@1@S@Net for the quarter ended Sept. 30 fell to $150.8 million, or $1.20 a share, from $223 million, or $1.71 a share, a year ago.@@@@1@25@@oe@2-2-2013
21596005@unknown@formal@none@1@S@Revenue rose 6.4% to $3.13 billion from $2.94 billion.@@@@1@9@@oe@2-2-2013
21596006@unknown@formal@none@1@S@Digital said a shift in its product mix toward low-end products and strong growth in workstation sales yielded lower gross margins.@@@@1@21@@oe@2-2-2013
21596007@unknown@formal@none@1@S@A spokesman also said margins for the company's service business narrowed somewhat because of heavy investments made in that sector.@@@@1@20@@oe@2-2-2013
21596008@unknown@formal@none@1@S@The lack of a strong product at the high end of Digital's line was a significant drag on sales.@@@@1@19@@oe@2-2-2013
21596009@unknown@formal@none@1@S@Digital hopes to address that with the debut of its first mainframe-class computers next Tuesday.@@@@1@15@@oe@2-2-2013
21596010@unknown@formal@none@1@S@The new line is aimed directly at International Business Machines Corp.@@@@1@11@@oe@2-2-2013
21596011@unknown@formal@none@1@S@"Until the new mainframe products kick in, there won't be a lot of revenue contribution at the high end, and that's hurt us," said Mark Steinkrauss, Digital's director of investor relations.@@@@1@31@@oe@2-2-2013
21596012@unknown@formal@none@1@S@He said unfavorable currency translations were also a factor in the quarter.@@@@1@12@@oe@2-2-2013
21596013@unknown@formal@none@1@S@DEC shares rose $1.375 to $89.75 apiece in consolidated New York Stock Exchange trading yesterday.@@@@1@15@@oe@2-2-2013
21596014@unknown@formal@none@1@S@But analysts said that against the backdrop of a nearly 40-point rise in the Dow Jones Industrial Average, that shouldn't necessarily be taken as a sign of great strength.@@@@1@29@@oe@2-2-2013
21596015@unknown@formal@none@1@S@Some cut their earnings estimates for the stock this year and predicted more efforts to control costs ahead.@@@@1@18@@oe@2-2-2013
21596016@unknown@formal@none@1@S@"I think the next few quarters will be difficult," said Steven Milunovich of First Boston.@@@@1@15@@oe@2-2-2013
21596017@unknown@formal@none@1@S@"Margins will remain under pressure, and when the new mainframe does ship, I'm not sure it will be a big winner.@@@@1@21@@oe@2-2-2013
21596018@unknown@formal@none@1@S@" Mr. Milunovich said he was revising his estimate for DEC's current year from $8.20 a share to "well below $8," although he hasn't settled on a final number.@@@@1@29@@oe@2-2-2013
21596019@unknown@formal@none@1@S@One troubling aspect of DEC's results, analysts said, was its performance in Europe.@@@@1@13@@oe@2-2-2013
21596020@unknown@formal@none@1@S@DEC said its overseas business, which now accounts for more than half of sales, improved in the quarter.@@@@1@18@@oe@2-2-2013
21596021@unknown@formal@none@1@S@It even took the unusually frank step of telling analysts in a morning conference call that orders in Europe were up in "double digits" in foreign-currency terms.@@@@1@27@@oe@2-2-2013
21596022@unknown@formal@none@1@S@That gain probably translated into about 5% to 7% in dollar terms, well below recent quarters' gains of above 20%, reckons Jay Stevens of Dean Witter Reynolds.@@@@1@27@@oe@2-2-2013
21596023@unknown@formal@none@1@S@"That was a disappointment" and a sign of overall computer-market softness in Europe, Mr. Stevens said.@@@@1@16@@oe@2-2-2013
21596024@unknown@formal@none@1@S@Marc Schulman, with UBS Securities in New York, dropped his estimate of DEC's full-year net to $6.80 a share from $8.@@@@1@21@@oe@2-2-2013
21596025@unknown@formal@none@1@S@Although overall revenues were stronger, Mr. Schulman said, DEC "drew down its European backlog" and had flat world-wide orders overall.@@@@1@20@@oe@2-2-2013
21596026@unknown@formal@none@1@S@"The bottom line is that it's more hand to mouth than it has been before," he said.@@@@1@17@@oe@2-2-2013
21596027@unknown@formal@none@1@S@Mr. Schulman said he believes that the roll-out of DEC's new mainframe will "occur somewhat more leisurely" than many of his investment colleagues expect.@@@@1@24@@oe@2-2-2013
21596028@unknown@formal@none@1@S@He said current expectations are for an entry level machine to be shipped in December, with all of the more sophisticated versions out by June.@@@@1@25@@oe@2-2-2013
21596029@unknown@formal@none@1@S@For reasons he wouldn't elaborate on, he said he's sure that schedule won't be met, meaning less profit impact from the product for DEC in the next few quarters.@@@@1@29@@oe@2-2-2013
21596030@unknown@formal@none@1@S@John R. Wilke contributed to this article.@@@@1@7@@oe@2-2-2013
21597001@unknown@formal@none@1@S@Colgate Palmolive Co. reported third-quarter net income rose 27%, bolstered by strong sales in its Latin American business and surprisingly healthy profits from U.S. operations.@@@@1@25@@oe@2-2-2013
21597002@unknown@formal@none@1@S@Colgate said net income for the quarter rose to $76.7 million, or $1.06 a share, on sales that increased 6% to $1.3 billion.@@@@1@23@@oe@2-2-2013
21597003@unknown@formal@none@1@S@In the year-earlier period, Colgate posted net income of $60.2 million, or 88 cents a share.@@@@1@16@@oe@2-2-2013
21597004@unknown@formal@none@1@S@Last year's results included earnings from discontinued operations of $13.1 million, or 19 cents a share.@@@@1@16@@oe@2-2-2013
21597005@unknown@formal@none@1@S@Reuben Mark, chairman and chief executive officer of Colgate, said earnings growth was fueled by strong sales in Latin America, the Far East and Europe.@@@@1@25@@oe@2-2-2013
21597006@unknown@formal@none@1@S@Results were also bolstered by "a very meaningful increase in operating profit at Colgate's U.S. business," he said.@@@@1@18@@oe@2-2-2013
21597007@unknown@formal@none@1@S@Operating profit at Colgate's U.S. household products and personal care businesses, which include such well-known brands as Colgate toothpaste and Fab laundry detergent, jumped more than 40%, the company said.@@@@1@30@@oe@2-2-2013
21597008@unknown@formal@none@1@S@Mr. Mark attributed the improvement to cost savings achieved by consolidating manufacturing operations, blending together two sales organizations and more carefully focusing the company's promotional activities.@@@@1@26@@oe@2-2-2013
21597009@unknown@formal@none@1@S@"We've done a lot to improve (U.S.) results and a lot more will be done," Mr. Mark said.@@@@1@18@@oe@2-2-2013
21597010@unknown@formal@none@1@S@"Improving profitability of U.S. operations is an extremely high priority in the company."@@@@1@13@@oe@2-2-2013
21597011@unknown@formal@none@1@S@Colgate's results were at the high end of the range of analysts' forecasts.@@@@1@13@@oe@2-2-2013
21597012@unknown@formal@none@1@S@The scope of the improvement in the U.S. business caught some analysts by surprise.@@@@1@14@@oe@2-2-2013
21597013@unknown@formal@none@1@S@The company's domestic business, especially its household products division, has performed poorly for years.@@@@1@14@@oe@2-2-2013
21597014@unknown@formal@none@1@S@Analysts say the earnings improvement came from cutting costs rather than increasing sales.@@@@1@13@@oe@2-2-2013
21597015@unknown@formal@none@1@S@For the nine months, net increased 14% to $217.5 million, or $3.09 a share.@@@@1@14@@oe@2-2-2013
21597016@unknown@formal@none@1@S@Sales rose 7% to $3.8 billion.@@@@1@6@@oe@2-2-2013
21597017@unknown@formal@none@1@S@The company earned $191.1 million, or $2.79 a share, in the year-earlier period.@@@@1@13@@oe@2-2-2013
21597018@unknown@formal@none@1@S@Colgate's 1988 net income included $40.1 million, or 59 cents a share, from discontinued operations.@@@@1@15@@oe@2-2-2013
21597019@unknown@formal@none@1@S@Colgate sold its hospital supply and home health care business last year.@@@@1@12@@oe@2-2-2013
21597020@unknown@formal@none@1@S@Separately, Colgate Wednesday finalized an agreement with MacroChem Corp., a tiny dental products and pharmaceutical concern based in Billerica, Mass., to market in the U.S. four of MacroChem's FDA-approved dental products.@@@@1@31@@oe@2-2-2013
21597021@unknown@formal@none@1@S@The products -- sealants and bonding materials used by dentists -- all contain fluoride that is released over time.@@@@1@19@@oe@2-2-2013
21597022@unknown@formal@none@1@S@The move is part of a drive to increase Colgate's business with dentists, a company spokeswoman said.@@@@1@17@@oe@2-2-2013
21597023@unknown@formal@none@1@S@Terms of the agreement weren't given.@@@@1@6@@oe@2-2-2013
21598001@unknown@formal@none@1@S@USACafes Limited Partnership said it completed the sale of its Bonanza restaurant franchise system to a subsidiary of Metromedia Co. for $71 million in cash.@@@@1@25@@oe@2-2-2013
21598002@unknown@formal@none@1@S@USACafes, which is nearly half-owned by Sam and Charles Wyly of Dallas, said it will distribute proceeds from the sale to unit holders as a liquidating dividend as soon as possible.@@@@1@31@@oe@2-2-2013
21598003@unknown@formal@none@1@S@The Bonanza franchise system, which generates about $600 million in sales annually, represented substantially all of the partnership's assets.@@@@1@19@@oe@2-2-2013
21598004@unknown@formal@none@1@S@The sale of the system has been challenged in a class-action suit on behalf of unit holders filed last week in a Delaware court, USACafes said.@@@@1@26@@oe@2-2-2013
21598005@unknown@formal@none@1@S@The company said it believes the suit is without merit.@@@@1@10@@oe@2-2-2013
21599001@unknown@formal@none@1@S@American Telephone & Telegraph Co. unveiled a sweetened pension and early-retirement program for management that it hopes will enable it to save $450 million in the next year.@@@@1@28@@oe@2-2-2013
21599002@unknown@formal@none@1@S@AT&T also said net income rose 19% in the third quarter.@@@@1@11@@oe@2-2-2013
21599003@unknown@formal@none@1@S@AT&T said its amended pension program will nearly double to 34,000 the number of managers eligible to retire with immediate pension payments.@@@@1@22@@oe@2-2-2013
21599004@unknown@formal@none@1@S@AT&T said that based on studies of other companies that have offered retirement plans, it expects about one-third of its eligible managers to retire under the new program.@@@@1@28@@oe@2-2-2013
21599005@unknown@formal@none@1@S@AT&T said third-quarter net income grew, despite stiff competition in all of the company's markets.@@@@1@15@@oe@2-2-2013
21599006@unknown@formal@none@1@S@Net income rose to $699 million, or 65 cents a share, from the year-earlier $587 million, or 55 cents a share.@@@@1@21@@oe@2-2-2013
21599007@unknown@formal@none@1@S@Revenue edged up to $8.9 billion from $8.81 billion.@@@@1@9@@oe@2-2-2013
21599008@unknown@formal@none@1@S@The latest period's net was reduced $102 million, or nine cents a share, for a change in depreciation method and concurrent changes in estimates of depreciable lives and net salvage for certain telecommunications equipment.@@@@1@34@@oe@2-2-2013
21599009@unknown@formal@none@1@S@The results roughly matched estimates of securities analysts, who were encouraged by AT&T increasing its operating margin to 13% from 11% a year ago, because of continued cost-cutting efforts.@@@@1@29@@oe@2-2-2013
21599010@unknown@formal@none@1@S@Sales of long-distance services, an extremely competitive market, rose 6.4%.@@@@1@10@@oe@2-2-2013
21599011@unknown@formal@none@1@S@But the growth was partly offset by lower equipment sales and rentals and price cuts on some products.@@@@1@18@@oe@2-2-2013
21599012@unknown@formal@none@1@S@Under the amended pension program, AT&T managers who have at least five years of service will have five years added to their age and length of service for pension purposes.@@@@1@30@@oe@2-2-2013
21599013@unknown@formal@none@1@S@Managers who retire Dec. 30 will have an additional 15% added to their monthly pension for as long as five years or age 65, whichever comes earlier.@@@@1@27@@oe@2-2-2013
21599014@unknown@formal@none@1@S@An AT&T spokeswoman said the company would likely replace about one-third of its managers who choose to retire with new employees.@@@@1@21@@oe@2-2-2013
21599015@unknown@formal@none@1@S@Analysts hailed the sweetened pension package, which they said had been the subject of rumors for several months.@@@@1@18@@oe@2-2-2013
21599016@unknown@formal@none@1@S@"This tells you AT&T is serious about continuing to manage their cost structure and is committed to 20%-a-year earnings growth," said Jack Grubman, an analyst with PaineWebber Inc.@@@@1@28@@oe@2-2-2013
21599017@unknown@formal@none@1@S@But other analysts expressed disappointment that the cost-cutting move won't result in even greater earnings growth.@@@@1@16@@oe@2-2-2013
21599018@unknown@formal@none@1@S@"This is a good move, but it only gets you to where people's expectations already are," in terms of earnings growth, said Joel D. Gross, an analyst with Donaldson, Lufkin & Jenrette.@@@@1@32@@oe@2-2-2013
21599019@unknown@formal@none@1@S@Mr. Gross said he had hoped that a cost savings of $450 million would result in even greater growth than the 20% annual earnings increase AT&T has told analysts it expects in the future.@@@@1@34@@oe@2-2-2013
21599020@unknown@formal@none@1@S@AT&T said the special retirement option will increase fourth-quarter expenses.@@@@1@10@@oe@2-2-2013
21599021@unknown@formal@none@1@S@But the company said the amount can't be determined until it knows how many managers opt to retire.@@@@1@18@@oe@2-2-2013
21599022@unknown@formal@none@1@S@AT&T said the expense increase will be largely offset by a gain from its previously announced plan to swap its holdings in Ing. C. Olivetti & Co. for shares in Cie. Industriali Riunite, an Italian holding company.@@@@1@37@@oe@2-2-2013
21599023@unknown@formal@none@1@S@For the nine months, AT&T said net income was $1.99 billion, or $1.85 a share, up 19% from $1.67 billion, or $1.56 a share.@@@@1@24@@oe@2-2-2013
21599024@unknown@formal@none@1@S@Revenue gained 3.1% to $26.81 billion from $26 billion.@@@@1@9@@oe@2-2-2013
21599025@unknown@formal@none@1@S@In composite trading yesterday on the New York Stock Exchange, AT&T shares closed at $43.375, up 87.5 cents.@@@@1@18@@oe@2-2-2013
21600001@unknown@formal@none@1@S@When it comes to buying and selling shares, Westridge Capital Management Inc. takes a back seat to no one.@@@@1@19@@oe@2-2-2013
21600002@unknown@formal@none@1@S@Every dollar's worth of stock in the Los Angeles money manager's portfolio is traded seven or eight times a year, the firm estimates.@@@@1@23@@oe@2-2-2013
21600003@unknown@formal@none@1@S@That makes it the most active trader among all the nation's investment advisers, according to Securities and Exchange Commission filings.@@@@1@20@@oe@2-2-2013
21600004@unknown@formal@none@1@S@But wait a second.@@@@1@4@@oe@2-2-2013
21600005@unknown@formal@none@1@S@Westridge Capital is an index fund -- the type of stolid long-term investor whose goal is to be nothing more than average.@@@@1@22@@oe@2-2-2013
21600006@unknown@formal@none@1@S@Westridge Capital's frenetic trading reflects the changes sweeping through the previously sleepy world of indexing.@@@@1@15@@oe@2-2-2013
21600007@unknown@formal@none@1@S@Indexing for the most part has involved simply buying and then holding stocks in the correct mix to mirror a stock market barometer, such as Standard & Poor's 500-stock index, and match its performance.@@@@1@34@@oe@2-2-2013
21600008@unknown@formal@none@1@S@Institutional investors have poured $210 billion into stock and bond indexing as a cheap and easy form of investment management that promises to post average market returns.@@@@1@27@@oe@2-2-2013
21600009@unknown@formal@none@1@S@These big investors have flocked to indexing because relatively few "active" stock pickers have been able to consistently match the returns of the S&P 500 or other bellwethers, much less beat it.@@@@1@32@@oe@2-2-2013
21600010@unknown@formal@none@1@S@And the fees investors pay for indexing run a few pennies for each $100 of assets -- a fraction of the cost of active managers.@@@@1@25@@oe@2-2-2013
21600011@unknown@formal@none@1@S@That's because computers do most of the work, and low trading activity keeps a lid on commission costs.@@@@1@18@@oe@2-2-2013
21600012@unknown@formal@none@1@S@But today, indexing is moving from a passive investment strategy to an increasingly active one.@@@@1@15@@oe@2-2-2013
21600013@unknown@formal@none@1@S@Because index-fund managers are no longer satisfied with merely being average, they have developed "enhanced" indexing strategies that are intended to outperform the market as much as three percentage points.@@@@1@30@@oe@2-2-2013
21600014@unknown@formal@none@1@S@"Indexing has been the most single successful investment concept in the last decade, but the index money has been just sort of sitting there," says Seth M. Lynn, president of Axe Core Investors Inc., an indexer based in Tarrytown, N.Y.@@@@1@40@@oe@2-2-2013
21600015@unknown@formal@none@1@S@"Now the interest is in what else can I do with that money."@@@@1@13@@oe@2-2-2013
21600016@unknown@formal@none@1@S@Among the souped-up indexing strategies: Indexed portfolios can be built around thousands of stocks, or just a few dozen, rather than being restricted to the S&P 500 companies.@@@@1@28@@oe@2-2-2013
21600017@unknown@formal@none@1@S@They can ignore the S&P 500 stocks altogether and focus on particular types of stocks, such as smaller companies, those paying high dividends or companies in a particular industry, state or country.@@@@1@32@@oe@2-2-2013
21600018@unknown@formal@none@1@S@With today's computer-driven program trading techniques, index funds can trade back and forth between stock-index futures and the actual stocks making up indexes such as the S&P 500.@@@@1@28@@oe@2-2-2013
21600019@unknown@formal@none@1@S@Futures and options also make it possible to build "synthetic" index funds that don't actually own a single share of stock, but can produce returns that match or exceed the broad stock market.@@@@1@33@@oe@2-2-2013
21600020@unknown@formal@none@1@S@One reason for these hybrids is that indexing's rapid growth is slowing, particularly for those "plain vanilla" funds that mirror the S&P 500.@@@@1@23@@oe@2-2-2013
21600021@unknown@formal@none@1@S@"There isn't a boatload {of big investors} out there still waiting to get into indexing," says P. James Kartalia, vice president of ANB Investment Management Co., Chicago, which offers both indexing and active management services.@@@@1@35@@oe@2-2-2013
21600022@unknown@formal@none@1@S@(After tripling in size in the past five years, index funds now hold about 20% of the stock owned by pension funds.)@@@@1@22@@oe@2-2-2013
21600023@unknown@formal@none@1@S@A further problem is razor-thin profits.@@@@1@6@@oe@2-2-2013
21600024@unknown@formal@none@1@S@Plain-vanilla funds have become so commonplace that fees they can charge have plunged to almost nothing, and in some cases are just that.@@@@1@23@@oe@2-2-2013
21600025@unknown@formal@none@1@S@To land customers for their well-paying stock custodial business, big banks sometimes will throw in basic indexing services for free.@@@@1@20@@oe@2-2-2013
21600026@unknown@formal@none@1@S@"It's like getting a free toaster when you open an account," says Axe Core's Mr. Lynn.@@@@1@16@@oe@2-2-2013
21600027@unknown@formal@none@1@S@As a result, indexers have been looking for ways to give investors something more than the average for their money.@@@@1@20@@oe@2-2-2013
21600028@unknown@formal@none@1@S@And many have been successful, as in the case of the index fund operated by hyper-trader Westridge Capital.@@@@1@18@@oe@2-2-2013
21600029@unknown@formal@none@1@S@Westridge Capital has used enhanced indexing techniques to beat the S&P 500's returns by 2.5 to 3 percentage points over the past four years, with the same risk level as holding the S&P 500 stocks, according to James Carder, the firm's president.@@@@1@42@@oe@2-2-2013
21600030@unknown@formal@none@1@S@Strategies vary for Westridge Capital, which has $300 million under management.@@@@1@11@@oe@2-2-2013
21600031@unknown@formal@none@1@S@The firm sometimes buys S&P 500 futures when they are selling at a discount to the actual stocks, and will switch back and forth between stocks and stock-index futures to take advantages of any momentary price discrepencies.@@@@1@37@@oe@2-2-2013
21600032@unknown@formal@none@1@S@Mr. Carder also goes through periods when he buys stocks in conjunction with options to boost returns and protect against declines.@@@@1@21@@oe@2-2-2013
21600033@unknown@formal@none@1@S@And in some months, he buys stock-index futures and not stocks at all.@@@@1@13@@oe@2-2-2013
21600034@unknown@formal@none@1@S@"By their nature, our trades are very short-term and are going to create high turnover," Mr. Carder adds.@@@@1@18@@oe@2-2-2013
21600035@unknown@formal@none@1@S@"The more turnover, the better for our clients."@@@@1@8@@oe@2-2-2013
21600036@unknown@formal@none@1@S@Big indexer Bankers Trust Co. also uses futures in a strategy that on average has added one percentage point to its enhanced fund's returns.@@@@1@24@@oe@2-2-2013
21600037@unknown@formal@none@1@S@J. Thomas Allen, president of Pittsburgh-based Advanced Investment Management Inc., agrees it's a good idea to jump between the S&P 500 stocks and futures.@@@@1@24@@oe@2-2-2013
21600038@unknown@formal@none@1@S@"You're buying the S&P, and you always want to hold the cheapest form of it," he says.@@@@1@17@@oe@2-2-2013
21600039@unknown@formal@none@1@S@But some indexers make little or no use of futures, saying that these instruments present added risks for investors.@@@@1@19@@oe@2-2-2013
21600040@unknown@formal@none@1@S@"If the futures markets have a problem, then those products could have a problem," says John Zumbrunn, managing director of Prudential Insurance Co. of America's Investment Index Technologies Inc. unit.@@@@1@30@@oe@2-2-2013
21600041@unknown@formal@none@1@S@Prudential currently is seeking approval to offer a new fund offering a return equal to the S&P 500 index plus 5/100 of a percentage point.@@@@1@25@@oe@2-2-2013
21600042@unknown@formal@none@1@S@An added feature is that the slighty improved return would be guaranteed by Prudential.@@@@1@14@@oe@2-2-2013
21600043@unknown@formal@none@1@S@There are many other strategies to bolster the returns of index funds.@@@@1@12@@oe@2-2-2013
21600044@unknown@formal@none@1@S@They include:@@@@1@2@@oe@2-2-2013
21600045@unknown@formal@none@1@S@LIMITED RISK FUNDS:@@@@1@3@@oe@2-2-2013
21600046@unknown@formal@none@1@S@These guarantee protection against stock market declines while still passing along most gains.@@@@1@13@@oe@2-2-2013
21600047@unknown@formal@none@1@S@Here a fund may promise to pay back, say, $95 of every $100 invested for a year, even if the market goes much lower.@@@@1@24@@oe@2-2-2013
21600048@unknown@formal@none@1@S@The fund could invest $87 for one year in Treasury bills yielding 8% to return the guaranteed $95.@@@@1@18@@oe@2-2-2013
21600049@unknown@formal@none@1@S@That leaves $13, which could be used to buy S&P 500 options that will nearly match any gain in the S&P index.@@@@1@22@@oe@2-2-2013
21600050@unknown@formal@none@1@S@MANAGER REPLICATION FUNDS:@@@@1@3@@oe@2-2-2013
21600051@unknown@formal@none@1@S@Say a big investor is interested in growth stocks.@@@@1@9@@oe@2-2-2013
21600052@unknown@formal@none@1@S@Instead of hiring one of the many active managers specializing in growth stocks, indexers can design a portfolio around the same stocks; the portfolio will be maintained by computer, reducing both fees and, in theory, risk (because of the large number of stocks).@@@@1@43@@oe@2-2-2013
21600053@unknown@formal@none@1@S@"We see a lot of interest in those kind of things," says Frank Salerno, a vice president of Bankers Trust.@@@@1@20@@oe@2-2-2013
21600054@unknown@formal@none@1@S@"People comfortable with the passive approach are using them for other strategies."@@@@1@12@@oe@2-2-2013
21600055@unknown@formal@none@1@S@TILT FUNDS:@@@@1@2@@oe@2-2-2013
21600056@unknown@formal@none@1@S@This is an index fund with a bet.@@@@1@8@@oe@2-2-2013
21600057@unknown@formal@none@1@S@Instead of replicating the S&P 500 or some other index exactly, some stocks are overweighted or underweighted in the portfolio.@@@@1@20@@oe@2-2-2013
21600058@unknown@formal@none@1@S@One simple approach is to exclude S&P 500 companies considered bankruptcy candidates; this can avoid weak sisters, but also can hurt when a company like Chrysler Corp. rebounds.@@@@1@28@@oe@2-2-2013
21600059@unknown@formal@none@1@S@Another approach: An investor with $100 million might use $75 million to buy the S&P 500 index and spend the other $25 million on a favorite group of stocks.@@@@1@29@@oe@2-2-2013
21600060@unknown@formal@none@1@S@SPECIALIZED FUNDS:@@@@1@2@@oe@2-2-2013
21600061@unknown@formal@none@1@S@Indexes can be constructed to serve social goals, such as eliminating the stocks of companies doing business in South Africa.@@@@1@20@@oe@2-2-2013
21600062@unknown@formal@none@1@S@Other funds have been designed to concentrate on stocks in a geographic area in order to encourage local investment.@@@@1@19@@oe@2-2-2013
21600063@unknown@formal@none@1@S@Pennsylvania State Employees Retirement System, for example, has about $130 million invested in a fund of 244 companies that are either Pennsylvania-based or have 25% of their work forces in the state.@@@@1@32@@oe@2-2-2013
21601001@unknown@formal@none@1@S@Short interest on the New York Stock Exchange declined for the second consecutive month, this time 4.2%, while the American Stock Exchange reported its third consecutive record month of short interest.@@@@1@31@@oe@2-2-2013
21601002@unknown@formal@none@1@S@The Big Board reported that short interest dropped to 523,920,214 shares as of Oct. 13 from 547,347,585 shares in mid-September.@@@@1@20@@oe@2-2-2013
21601003@unknown@formal@none@1@S@Amex short interest climbed 3% to 53,496,665 shares from 51,911,566 shares.@@@@1@11@@oe@2-2-2013
21601004@unknown@formal@none@1@S@For the year-earlier month, the Big Board reported 461,539,056 shares, indicating a 13.5% year-to-year rise, while the Amex reported 36,015,194 shares, a 48% leap.@@@@1@24@@oe@2-2-2013
21601005@unknown@formal@none@1@S@Amex short interest has been heading upward since mid-December, with increases in each month since then except at mid-July.@@@@1@19@@oe@2-2-2013
21601006@unknown@formal@none@1@S@Traders who sell short borrow stock and sell it, betting that the stock's price will decline and that they can buy the shares back later at a lower price for return to the lender.@@@@1@34@@oe@2-2-2013
21601007@unknown@formal@none@1@S@Short interest is the number of shares that haven't yet been purchased for return to lenders.@@@@1@16@@oe@2-2-2013
21601008@unknown@formal@none@1@S@Although a substantial short position reflects heavy speculation that a stock's price will decline, some investors consider an increase in short interest bullish because the borrowed shares eventually must be bought back.@@@@1@32@@oe@2-2-2013
21601009@unknown@formal@none@1@S@Fluctuation in short interest of certain stocks also may be caused partly by arbitraging.@@@@1@14@@oe@2-2-2013
21601010@unknown@formal@none@1@S@The figures occasionally include incomplete transactions in restricted stock.@@@@1@9@@oe@2-2-2013
21601011@unknown@formal@none@1@S@The level of negative sentiment measured by the Big Board short interest ratio slipped to 3.36 from last month's 3.38.@@@@1@20@@oe@2-2-2013
21601012@unknown@formal@none@1@S@The ratio is the number of trading days, at the exchange's average trading volume, that would be required to convert the total short interest position.@@@@1@25@@oe@2-2-2013
21601013@unknown@formal@none@1@S@Some analysts suggest, however, that the ratio has weakened in value as an indicator because options and other products can be used to hedge short positions.@@@@1@26@@oe@2-2-2013
21601014@unknown@formal@none@1@S@Varity Corp. led the Big Board list of largest short volumes with 12,822,563 shares.@@@@1@14@@oe@2-2-2013
21601015@unknown@formal@none@1@S@Varity has proposed to acquire K-H Corp., consisting of the auto parts division and some debt of Fruehauf Corp., for $577.3 million of cash and securities.@@@@1@26@@oe@2-2-2013
21601016@unknown@formal@none@1@S@Chemical Waste Management posted the biggest increase in short volume on the New York exchange, up 3,383,477 shares to 5,267,238.@@@@1@20@@oe@2-2-2013
21601017@unknown@formal@none@1@S@Bristol-Myers Squibb Co., the entity formed from the recent acquisition of Squibb Corp. by Bristol-Myers Co., logged the largest volume decline, 7,592,988 shares, to 12,017,724.@@@@1@25@@oe@2-2-2013
21601018@unknown@formal@none@1@S@Short interest in International Business Machines Corp. plunged to 1,425,035 shares from 2,387,226 shares a month earlier.@@@@1@17@@oe@2-2-2013
21601019@unknown@formal@none@1@S@Also closely watched is Exxon Corp., where short interest slid to 4,469,167 shares from 5,088,774.@@@@1@15@@oe@2-2-2013
21601020@unknown@formal@none@1@S@On a percentage basis, Germany Fund Inc. led the gainers, leaping to 67,972 shares from three shares.@@@@1@17@@oe@2-2-2013
21601021@unknown@formal@none@1@S@TransCanada PipeLines Ltd. led the percentage decliners, dropping to 59 shares from 183,467.@@@@1@13@@oe@2-2-2013
21601022@unknown@formal@none@1@S@The Amex short interest volume leader again was Texas Air Corp., rising to 3,820,634 shares from 3,363,949.@@@@1@17@@oe@2-2-2013
21601023@unknown@formal@none@1@S@Bolar Pharmaceutical Co. posted the largest volume increase, 552,302 shares, to 2,157,656.@@@@1@12@@oe@2-2-2013
21601024@unknown@formal@none@1@S@The company is under an investigation concerning procedures to gain Food and Drug Administration approval of generic drugs.@@@@1@18@@oe@2-2-2013
21601025@unknown@formal@none@1@S@Bolar has denied any wrongdoing.@@@@1@5@@oe@2-2-2013
21601026@unknown@formal@none@1@S@The largest volume drop -- down 445,645 shares to 141,903 -- came in shares represented by B.A.T Industries PLC's American depositary receipts.@@@@1@22@@oe@2-2-2013
21601027@unknown@formal@none@1@S@The company is facing a takeover proposal from the financier Sir James Goldsmith.@@@@1@13@@oe@2-2-2013
21601028@unknown@formal@none@1@S@First Iberian Fund led the percentage increases, rising to 73,100 shares from 184.@@@@1@13@@oe@2-2-2013
21601029@unknown@formal@none@1@S@Nelson Holdings International Ltd. dropped the most on a percentage basis, to 1,000 shares from 255,923.@@@@1@16@@oe@2-2-2013
21601030@unknown@formal@none@1@S@The adjacent tables show the Big Board and Amex issues in which a short interest position of at least 100,000 shares existed as of mid-October or in which there was a short position change of at least 50,000 shares since mid-September.@@@@1@41@@oe@2-2-2013
21602001@unknown@formal@none@1@S@Your Oct. 12 editorial "Pitiful, Helpless Presidency?" correctly states that I was critical of the Bush administration's failure to have any plan in place to respond in a timely fashion to the opportunities to oust Manuel Noriega presented by the attempted military coup on Oct. 3.@@@@1@46@@oe@2-2-2013
21602002@unknown@formal@none@1@S@You are absolutely wrong, however, in opining that this position is some kind of "flip-flop," something newly arrived at as a result of reading the opinion polls.@@@@1@27@@oe@2-2-2013
21602003@unknown@formal@none@1@S@My position is one founded on both the facts and the law.@@@@1@12@@oe@2-2-2013
21602004@unknown@formal@none@1@S@Although you may have forgotten, public opinion about Gen. Noriega is where it is in large measure because of my investigation of his years of involvement in narcotics smuggling (and simultaneous work as a U.S. operative).@@@@1@36@@oe@2-2-2013
21602005@unknown@formal@none@1@S@The public made up its mind about Gen. Noriega largely as a result of the hearings I chaired in the Subcommittee on Terrorism and Narcotics of the Foreign Relations Committee on Feb. 8, 9, 10 and 11, 1988, and again on April 4, 1988.@@@@1@44@@oe@2-2-2013
21602006@unknown@formal@none@1@S@It was during those hearings that the nation first learned the breadth and depth of Gen. Noriega's criminality, and of his enduring relationships with a variety of U.S. government agencies.@@@@1@30@@oe@2-2-2013
21602007@unknown@formal@none@1@S@Those hearings also highlighted how Gen. Noriega was able to use his relationships with these agencies to delay U.S. action against him, and to exploit the administration's obsession with overthrowing the Sandinistas to protect his own drug-dealing.@@@@1@37@@oe@2-2-2013
21602008@unknown@formal@none@1@S@As former Ambassador to Costa Rica Francis J. McNeil testified before the subcommittee, the Reagan administration knew that Gen. Noriega was involved with narcotics, but made a decision in the summer of 1986 "to put Gen. Noriega on the shelf until Nicaragua was settled."@@@@1@44@@oe@2-2-2013
21602009@unknown@formal@none@1@S@As the report issued by the subcommittee concluded, "Our government did nothing regarding Gen. Noriega's drug business and substantial criminal involvement because the first priority was the Contra war.@@@@1@29@@oe@2-2-2013
21602010@unknown@formal@none@1@S@This decision resulted in at least some drugs entering the United States as a hidden cost of the war."@@@@1@19@@oe@2-2-2013
21602011@unknown@formal@none@1@S@Unfortunately, this problem continued even after Gen. Noriega's indictment.@@@@1@9@@oe@2-2-2013
21602012@unknown@formal@none@1@S@Throughout 1988 and this year, I and others in Congress have pressed the U.S. to develop a plan for pushing this "narcokleptocrat" out of Panama.@@@@1@25@@oe@2-2-2013
21602013@unknown@formal@none@1@S@Regrettably, two administrations in a row have been unwilling and unable to develop any plan, military or economic, for supporting the Panamanian people in their attempts to restore democracy.@@@@1@29@@oe@2-2-2013
21602014@unknown@formal@none@1@S@Sen. John Kerry (D., Mass.)@@@@1@5@@oe@2-2-2013
21603001@unknown@formal@none@1@S@For Vietnamese, these are tricky, often treacherous, times.@@@@1@8@@oe@2-2-2013
21603002@unknown@formal@none@1@S@After years of hesitation, economic and political reform was embraced at the end of 1986, but ringing declarations have yet to be translated into much action.@@@@1@26@@oe@2-2-2013
21603003@unknown@formal@none@1@S@Vietnam is finding that turning a stagnant socialist order into a dynamic free market doesn't come easy.@@@@1@17@@oe@2-2-2013
21603004@unknown@formal@none@1@S@Here is how three Vietnamese are coping with change:@@@@1@9@@oe@2-2-2013
21603005@unknown@formal@none@1@S@The Tire King@@@@1@3@@oe@2-2-2013
21603006@unknown@formal@none@1@S@Nguyen Van Chan is living proof that old ways die hard.@@@@1@11@@oe@2-2-2013
21603007@unknown@formal@none@1@S@Mr. Chan used to be an oddity in Hanoi: a private entrepreneur.@@@@1@12@@oe@2-2-2013
21603008@unknown@formal@none@1@S@His business success made him an official target in pre-reform days.@@@@1@11@@oe@2-2-2013
21603009@unknown@formal@none@1@S@Mr. Chan, now 64 years old, invented a fountain pen he and his family produced from plastic waste.@@@@1@18@@oe@2-2-2013
21603010@unknown@formal@none@1@S@Later, he marketed glue.@@@@1@4@@oe@2-2-2013
21603011@unknown@formal@none@1@S@Both products were immensely popular.@@@@1@5@@oe@2-2-2013
21603012@unknown@formal@none@1@S@For his troubles, Mr. Chan was jailed three times between 1960 and 1974.@@@@1@13@@oe@2-2-2013
21603013@unknown@formal@none@1@S@Though his operation was registered and used only scrap, he was accused of conducting illegal business and possessing illegal materials.@@@@1@20@@oe@2-2-2013
21603014@unknown@formal@none@1@S@Once he was held for three months without being charged.@@@@1@10@@oe@2-2-2013
21603015@unknown@formal@none@1@S@Things were supposed to change when Vietnam's economic reforms gathered pace, and for awhile they did.@@@@1@16@@oe@2-2-2013
21603016@unknown@formal@none@1@S@After years of experimenting, Mr. Chan produced a heavy-duty bicycle tire that outlasted its state-produced rival.@@@@1@16@@oe@2-2-2013
21603017@unknown@formal@none@1@S@By 1982, he was selling thousands of tires.@@@@1@8@@oe@2-2-2013
21603018@unknown@formal@none@1@S@Newspapers published articles about him, and he was hailed as "the tire king."@@@@1@13@@oe@2-2-2013
21603019@unknown@formal@none@1@S@His efforts earned a gold medal at a national exhibition -- and attracted renewed attention from local authorities.@@@@1@18@@oe@2-2-2013
21603020@unknown@formal@none@1@S@District police in 1983 descended on his suburban home, which he and his large family used as both residence and factory, and demanded proof the house and equipment were his.@@@@1@30@@oe@2-2-2013
21603021@unknown@formal@none@1@S@He produced it.@@@@1@3@@oe@2-2-2013
21603022@unknown@formal@none@1@S@"That was the first time they lost and I won," he says.@@@@1@12@@oe@2-2-2013
21603023@unknown@formal@none@1@S@He was further questioned to determine if he was "a real working man or an exploiter."@@@@1@16@@oe@2-2-2013
21603024@unknown@formal@none@1@S@Says Mr. Chan: "When I showed it was from my own brain, they lost for the second time."@@@@1@18@@oe@2-2-2013
21603025@unknown@formal@none@1@S@But a few days later the police accused him of stealing electricity, acquiring rubber without permission and buying stolen property.@@@@1@20@@oe@2-2-2013
21603026@unknown@formal@none@1@S@Warned he was to be jailed again, he fled to the countryside.@@@@1@12@@oe@2-2-2013
21603027@unknown@formal@none@1@S@His family was given three hours to leave before the house and contents were confiscated.@@@@1@15@@oe@2-2-2013
21603028@unknown@formal@none@1@S@With only the clothes they were wearing, family members moved to a home owned by one of Mr. Chan's sons.@@@@1@20@@oe@2-2-2013
21603029@unknown@formal@none@1@S@After six months on the run, Mr. Chan learned the order for his arrest had been canceled.@@@@1@17@@oe@2-2-2013
21603030@unknown@formal@none@1@S@He rejoined his family in January 1984 and began the long struggle for justice, pressing everyone from Hanoi municipal officials to National Assembly deputies for restoration of his rights.@@@@1@29@@oe@2-2-2013
21603031@unknown@formal@none@1@S@He and his family kept afloat by repairing bicycles, selling fruit and doing odd jobs.@@@@1@15@@oe@2-2-2013
21603032@unknown@formal@none@1@S@Mr. Chan achieved a breakthrough in 1987 -- and became a minor celebrity again -- when his story was published in a weekly newspaper.@@@@1@24@@oe@2-2-2013
21603033@unknown@formal@none@1@S@In 1988, 18 months after the sixth congress formally endorsed family-run private enterprise, district authorities allowed Mr. Chan to resume work.@@@@1@21@@oe@2-2-2013
21603034@unknown@formal@none@1@S@By late last year he was invited back as "the tire king" to display his products at a national exhibition.@@@@1@20@@oe@2-2-2013
21603035@unknown@formal@none@1@S@National leaders stopped by his stand to commend his achievements.@@@@1@10@@oe@2-2-2013
21603036@unknown@formal@none@1@S@Mr. Chan now produces 1,000 bicycle and motorbike tires a month and 1,000 tins of tire-patching glue in the son's small house.@@@@1@22@@oe@2-2-2013
21603037@unknown@formal@none@1@S@Eighteen people pack the house's two rooms -- the Chans, four of their 10 children with spouses, and eight of 22 grandchildren.@@@@1@22@@oe@2-2-2013
21603038@unknown@formal@none@1@S@Most sleep on the floor.@@@@1@5@@oe@2-2-2013
21603039@unknown@formal@none@1@S@Come daybreak, eight family members and two other workers unroll a sheet of raw rubber that covers the floor of the house and spills out onto the street.@@@@1@28@@oe@2-2-2013
21603040@unknown@formal@none@1@S@The primitive operations also burst out the back door into a small courtyard, where an ancient press squeezes rubber solution into a flat strip and newly made tires are cooled in a bathtub filled with water.@@@@1@36@@oe@2-2-2013
21603041@unknown@formal@none@1@S@Mr. Chan talks optimistically of expanding, maybe even moving into the import-export field.@@@@1@13@@oe@2-2-2013
21603042@unknown@formal@none@1@S@First, however, he has unfinished business.@@@@1@6@@oe@2-2-2013
21603043@unknown@formal@none@1@S@When district authorities allowed him to resume manufacturing, they released only one of his machines.@@@@1@15@@oe@2-2-2013
21603044@unknown@formal@none@1@S@They didn't return the rubber stocks that represent his capital.@@@@1@10@@oe@2-2-2013
21603045@unknown@formal@none@1@S@Nor did they return his house and contents, which he values at about $44,000.@@@@1@14@@oe@2-2-2013
21603046@unknown@formal@none@1@S@He wants to recover more than just his property, though.@@@@1@10@@oe@2-2-2013
21603047@unknown@formal@none@1@S@"I want my dignity back," he says.@@@@1@7@@oe@2-2-2013
21603048@unknown@formal@none@1@S@The Editor@@@@1@2@@oe@2-2-2013
21603049@unknown@formal@none@1@S@Nguyen Ngoc seemed an obvious choice when the Vietnamese Writers Association was looking for a new editor to reform its weekly newspaper, Van Nghe.@@@@1@24@@oe@2-2-2013
21603050@unknown@formal@none@1@S@After the sixth congress, journalists seized the opportunity provided by the liberalization to probe previously taboo subjects.@@@@1@17@@oe@2-2-2013
21603051@unknown@formal@none@1@S@Mr. Ngoc, 57 years old, had solid reformist credentials: He had lost his official position in the association in he early 1980s because he questioned the intrusion of politics into literature.@@@@1@31@@oe@2-2-2013
21603052@unknown@formal@none@1@S@Appointed editor in chief in July 1987, Mr. Ngoc rapidly turned the staid Van Nghe into Vietnam's hottest paper.@@@@1@19@@oe@2-2-2013
21603053@unknown@formal@none@1@S@Circulation soared as the weekly went way beyond standard literary themes to cover Vietnamese society and its ills.@@@@1@18@@oe@2-2-2013
21603054@unknown@formal@none@1@S@Readers were electrified by the paper's audacity and appalled by the dark side of life it uncovered.@@@@1@17@@oe@2-2-2013
21603055@unknown@formal@none@1@S@One article recounted a decade-long struggle by a wounded soldier to prove, officially, he was alive.@@@@1@16@@oe@2-2-2013
21603056@unknown@formal@none@1@S@Another described how tax-collection officials in Thanh Hoa province one night stormed through homes and confiscated rice from starving villagers.@@@@1@20@@oe@2-2-2013
21603057@unknown@formal@none@1@S@The newspaper also ran a series of controversial short stories by Nguyen Huy Thiep, a former history teacher, who stirred debate over his interpretation of Vietnamese culture and took a thinly veiled swipe at writers who had blocked his entry into their official association.@@@@1@44@@oe@2-2-2013
21603058@unknown@formal@none@1@S@Van Nghe quickly made influential enemies.@@@@1@6@@oe@2-2-2013
21603059@unknown@formal@none@1@S@"Those who manage ideology and a large number of writers reacted badly" to the restyled paper, says Lai Nguyen An, a literary critic.@@@@1@23@@oe@2-2-2013
21603060@unknown@formal@none@1@S@After months of internal rumblings, Mr. Ngoc was fired last December.@@@@1@11@@oe@2-2-2013
21603061@unknown@formal@none@1@S@His dismissal triggered a furor among intellectuals that continues today.@@@@1@10@@oe@2-2-2013
21603062@unknown@formal@none@1@S@"Under Mr. Ngoc, Van Nghe protected the people instead of the government," says Nguyen Duy, a poet who is the paper's bureau chief for southern Vietnam.@@@@1@26@@oe@2-2-2013
21603063@unknown@formal@none@1@S@"The paper reflected the truth.@@@@1@5@@oe@2-2-2013
21603064@unknown@formal@none@1@S@For the leadership, that was too painful to bear."@@@@1@9@@oe@2-2-2013
21603065@unknown@formal@none@1@S@The `Billionaire'@@@@1@2@@oe@2-2-2013
21603066@unknown@formal@none@1@S@Nguyen Thi Thi is Vietnam's entrepreneur of the 1980s.@@@@1@9@@oe@2-2-2013
21603067@unknown@formal@none@1@S@Her challenge is to keep her fledgling empire on top in the 1990s.@@@@1@13@@oe@2-2-2013
21603068@unknown@formal@none@1@S@Mrs. Thi didn't wait for the reforms to get her start.@@@@1@11@@oe@2-2-2013
21603069@unknown@formal@none@1@S@She charged ahead of the government and the law to establish Hochiminh City Food Co. as the biggest rice dealer in the country.@@@@1@23@@oe@2-2-2013
21603070@unknown@formal@none@1@S@Her success, which included alleviating an urban food shortage in the early 1980s, helped persuade Hanoi to take the reform path.@@@@1@21@@oe@2-2-2013
21603071@unknown@formal@none@1@S@Her story is becoming part of local folklore.@@@@1@8@@oe@2-2-2013
21603072@unknown@formal@none@1@S@A lifelong revolutionary with little education who fought both the French and the U.S.-backed Saigon regime, she switched effortlessly to commerce after the war.@@@@1@24@@oe@2-2-2013
21603073@unknown@formal@none@1@S@Her instincts were capitalistic, despite her background.@@@@1@7@@oe@2-2-2013
21603074@unknown@formal@none@1@S@As she rode over regulations, only her friendship with party leaders, including Nguyen Van Linh, then Ho Chi Minh City party secretary, kept her out of jail.@@@@1@27@@oe@2-2-2013
21603075@unknown@formal@none@1@S@Following Mr. Linh's appointment as secretary-general of the party at the sixth congress, Mrs. Thi has become the darling of "doi moi", the Vietnamese version of perestroika.@@@@1@27@@oe@2-2-2013
21603076@unknown@formal@none@1@S@The authorities have steered foreign reporters to her office to see an example of "the new way of thinking."@@@@1@19@@oe@2-2-2013
21603077@unknown@formal@none@1@S@Foreign publications have responded with articles declaring her Vietnam's richest woman.@@@@1@11@@oe@2-2-2013
21603078@unknown@formal@none@1@S@"Some people call me the communist billionaire," she has told visitors.@@@@1@11@@oe@2-2-2013
21603079@unknown@formal@none@1@S@Actually, 67-year-old Mrs. Thi is about as poor as almost everyone else in this impoverished land.@@@@1@16@@oe@2-2-2013
21603080@unknown@formal@none@1@S@She has indeed turned Hochiminh City Food into a budding conglomerate, but the company itself remains state-owned.@@@@1@17@@oe@2-2-2013
21603081@unknown@formal@none@1@S@She manages it with the title of general-director.@@@@1@8@@oe@2-2-2013
21603082@unknown@formal@none@1@S@The heart of the business is the purchase of rice and other commodities, such as corn and coffee, from farmers in the south, paying with fertilizer, farm tools and other items.@@@@1@31@@oe@2-2-2013
21603083@unknown@formal@none@1@S@Last year, Hochiminh City Food says it bought two million metric tons of unhusked rice, more than 10% of the country's output.@@@@1@22@@oe@2-2-2013
21603084@unknown@formal@none@1@S@The company operates a fleet of trucks and boats to transport the commodities to its warehouses.@@@@1@16@@oe@2-2-2013
21603085@unknown@formal@none@1@S@A subsidiary company processes commodities into foods such as instant noodles that are sold with the rice through a vast retail network.@@@@1@22@@oe@2-2-2013
21603086@unknown@formal@none@1@S@In recent years, Mrs. Thi has started to diversify the company, taking a 20% stake in newly established, partly private Industrial and Commercial Bank, and setting up Saigon Petro, which owns and operates Vietnam's first oil refinery.@@@@1@37@@oe@2-2-2013
21603087@unknown@formal@none@1@S@Mrs. Thi says Hochiminh City Food last year increased pretax profit 60% to the equivalent of about $2.7 million on sales of $150 million.@@@@1@24@@oe@2-2-2013
21603088@unknown@formal@none@1@S@She expects both revenue and profit to gain this year.@@@@1@10@@oe@2-2-2013
21603089@unknown@formal@none@1@S@She is almost cavalier about the possibility Vietnam's reforms will create rivals on her home turf.@@@@1@16@@oe@2-2-2013
21603090@unknown@formal@none@1@S@"I don't mind the competition inside the country," she says.@@@@1@10@@oe@2-2-2013
21603091@unknown@formal@none@1@S@"I am only afraid that with Vietnam's poor-quality products we can't compete with neighboring countries.@@@@1@15@@oe@2-2-2013
21604001@unknown@formal@none@1@S@The earthquake that hit the San Francisco Bay area isn't likely to result in wholesale downgrading of bond ratings, officials at the two major rating agencies said.@@@@1@27@@oe@2-2-2013
21604002@unknown@formal@none@1@S@Standard & Poor's Corp. is reviewing debt issued by 12 California counties, and "there are potential isolated problems," said Hyman Grossman, a managing director.@@@@1@24@@oe@2-2-2013
21604003@unknown@formal@none@1@S@The agency is preparing a report, to be issued today, on the earthquake's impact on the property- and casualty-insurance industry.@@@@1@20@@oe@2-2-2013
21604004@unknown@formal@none@1@S@The only securities so far to be singled out are those issued by Bay View Federal Savings & Loan.@@@@1@19@@oe@2-2-2013
21604005@unknown@formal@none@1@S@Moody's Investors Service Inc. said it is reviewing, with an eye toward a possible downgrade, the ratings on Bay View Federal bonds, long-term deposits and the preferred-stock rating of its parent company, Bay View Capital Corp.@@@@1@36@@oe@2-2-2013
21604006@unknown@formal@none@1@S@As for property and casualty insurers, Moody's said "preliminary estimates suggest that losses should not have a significant impact on most insurers' financial condition," but it "raises concerns about potentially substantial risks" longer-term.@@@@1@33@@oe@2-2-2013
21604007@unknown@formal@none@1@S@"Losses from the earthquake are expected to be of similar magnitude to those of Hurricane Hugo," according to Moody's.@@@@1@19@@oe@2-2-2013
21605001@unknown@formal@none@1@S@Your Oct. 5 editorial "A Democratic Tax Cut" contained an error.@@@@1@11@@oe@2-2-2013
21605002@unknown@formal@none@1@S@In the third paragraph it referred to the senators seeking loophole suggestions from lobbyists for various sectors of the economy.@@@@1@20@@oe@2-2-2013
21605003@unknown@formal@none@1@S@Among them, "banana farmers."@@@@1@4@@oe@2-2-2013
21605004@unknown@formal@none@1@S@The only significant commercial banana farmers in the U.S. are in Hawaii.@@@@1@12@@oe@2-2-2013
21605005@unknown@formal@none@1@S@The Hawaii Banana Industry Association, to which nearly all of them belong, has no lobbyist.@@@@1@15@@oe@2-2-2013
21605006@unknown@formal@none@1@S@Thomas V. Reese Sr. Maui Banana Co.@@@@1@7@@oe@2-2-2013
21606001@unknown@formal@none@1@S@Western Digital Corp. reported a net loss of $2.7 million, or nine cents a share, for its first quarter ended Sept. 30, citing factors as varied as hurricane damage, an advance in graphics technology and the strengthening dollar.@@@@1@38@@oe@2-2-2013
21606002@unknown@formal@none@1@S@In the year-ago period, the company earned $12.9 million, or 45 cents a share, on sales of $247 million.@@@@1@19@@oe@2-2-2013
21606003@unknown@formal@none@1@S@Sales for the just-ended period fell to about $225 million, the maker of computer parts said.@@@@1@16@@oe@2-2-2013
21606004@unknown@formal@none@1@S@Nonetheless, Chairman Roger W. Johnson said he expects the company to be profitable in the current quarter.@@@@1@17@@oe@2-2-2013
21606005@unknown@formal@none@1@S@"We are positioned to come through," he said, noting that the company's backlog was up from the previous quarter.@@@@1@19@@oe@2-2-2013
21606006@unknown@formal@none@1@S@In its second quarter last year, Western Digital earned $12.7 million, or 44 cents a share, on sales of $258.4 million.@@@@1@21@@oe@2-2-2013
21606007@unknown@formal@none@1@S@Mr. Johnson said Western Digital's plant in Puerto Rico was affected by Hurricane Hugo, losing three days' production because of the storm, which wrecked much of the Caribbean island's infrastructure.@@@@1@30@@oe@2-2-2013
21606008@unknown@formal@none@1@S@Although the plant itself wasn't damaged, Mr. Johnson said millions of dollars in first-quarter revenue were lost.@@@@1@17@@oe@2-2-2013
21606009@unknown@formal@none@1@S@The revenue will be regained in the current period, he added.@@@@1@11@@oe@2-2-2013
21606010@unknown@formal@none@1@S@There are no plans to initiate a common stock dividend, Mr. Johnson said, explaining that the board continues to believe shareholders are best served by reinvesting excess cash.@@@@1@28@@oe@2-2-2013
21606011@unknown@formal@none@1@S@Mr. Johnson said the first-quarter loss also heavily reflected a rapid change in graphics technology that left reseller channels with too many of the old computer graphics boards and too few new monitors compatible with the new graphics boards.@@@@1@39@@oe@2-2-2013
21606012@unknown@formal@none@1@S@Western Digital doesn't make the monitors.@@@@1@6@@oe@2-2-2013
21606013@unknown@formal@none@1@S@An accelerating move by personal computer manufacturers' to include advanced graphics capabilities as standard equipment further dampened reseller purchases of Western Digital's equipment.@@@@1@23@@oe@2-2-2013
21606014@unknown@formal@none@1@S@"The other areas of the business -- storage and microcomputers -- were very good," Mr. Johnson said.@@@@1@17@@oe@2-2-2013
21606015@unknown@formal@none@1@S@He said Western Digital has reacted swiftly to the movement to video graphics array, VGA, graphics technology from the old enhanced graphics adapter, EGA, which has a lower resolution standard, technology and now is one of the leading producers of these newer units.@@@@1@43@@oe@2-2-2013
21606016@unknown@formal@none@1@S@Other makers of video controller equipment also were caught in the EGA-VGA shift, he said, "but we were able to respond much more quickly."@@@@1@24@@oe@2-2-2013
21606017@unknown@formal@none@1@S@Still, Mr. Johnson said, "our stock is grossly undervalued."@@@@1@9@@oe@2-2-2013
21606018@unknown@formal@none@1@S@He said the company has cut operating expenses by about 10% over the last few quarters, while maintaining research and development at about 8% to 9% of sales.@@@@1@28@@oe@2-2-2013
21606019@unknown@formal@none@1@S@As part of its reorganization this week, Western Digital has divided its business into two segments -- storage products, including controllers and disk drives; and microcomputer products, which include graphics, communications and peripheral control chips.@@@@1@35@@oe@2-2-2013
21606020@unknown@formal@none@1@S@Graphics, communications and peripheral control chips were combined because, increasingly, multiple functions are being governed by a single chip.@@@@1@19@@oe@2-2-2013
21606021@unknown@formal@none@1@S@Storage, which includes computer controllers and 3.5-inch disk drives, represents nearly two-thirds of the company's business.@@@@1@16@@oe@2-2-2013
21606022@unknown@formal@none@1@S@Disk drives, which allow a computer to access its memory, generated 38% more revenue in the most recent period compared with the fiscal first quarter a year earlier.@@@@1@28@@oe@2-2-2013
21606023@unknown@formal@none@1@S@Computer parts are getting ever smaller, Mr. Johnson said, a shrinking that has propelled laptops into position as the fastest-growing segment of the computer business.@@@@1@25@@oe@2-2-2013
21606024@unknown@formal@none@1@S@As smaller and more powerful computers continue to be the focus of the industry, he said, Western Digital is strengthening development of laptop parts.@@@@1@24@@oe@2-2-2013
21606025@unknown@formal@none@1@S@Next year Western Digital plans to consolidate its operations from 11 buildings in Irvine into two buildings in the same citya new headquarters and, a block away, a modern $100 million silicon wafer fabrication plant.@@@@1@35@@oe@2-2-2013
21606026@unknown@formal@none@1@S@The plan will help the company in its existing joint manufacturing agreement with AT&T.@@@@1@14@@oe@2-2-2013
21606027@unknown@formal@none@1@S@About half of Western Digital's business is overseas, and Mr. Johnson expects that proportion to continue.@@@@1@16@@oe@2-2-2013
21606028@unknown@formal@none@1@S@Plans to dissolve many of the trade barriers within Europe in 1992 creates significant opportunities for the company, he said, particularly since Western Digital already manufactures there.@@@@1@27@@oe@2-2-2013
21606029@unknown@formal@none@1@S@Capitalizing on that presence, Western Digital is launching a major effort to develop the embryonic reseller market in Europe.@@@@1@19@@oe@2-2-2013
21607001@unknown@formal@none@1@S@Directors of state-owned Banca Nazionale del Lavoro approved a two-step capital-boosting transaction and a change in the bank's rules that will help it operate more like a private-sector institution.@@@@1@29@@oe@2-2-2013
21607002@unknown@formal@none@1@S@Until now, BNL's top managers and its directors have been appointed by a Treasury decree.@@@@1@15@@oe@2-2-2013
21607003@unknown@formal@none@1@S@But under the bank's proposed statutes, an assembly of shareholders must approve board members.@@@@1@14@@oe@2-2-2013
21607004@unknown@formal@none@1@S@The bank's chairman and director general, who also sit on the board, still would be appointed by the Treasury.@@@@1@19@@oe@2-2-2013
21607005@unknown@formal@none@1@S@BNL, which is controlled by the Italian Treasury, was rocked by the disclosure last month that its Atlanta branch extended more than $3 billion in unauthorized credits to Iraq.@@@@1@29@@oe@2-2-2013
21607006@unknown@formal@none@1@S@The ensuing scandal, in which the bank's management resigned, has helped renew calls for privatization, or at least an overhaul, of Italy's banking system, which is about 80% state-controlled.@@@@1@29@@oe@2-2-2013
21607007@unknown@formal@none@1@S@In a related move, the bank also proposed that board representation be linked more closely to the bank's new shareholding structure.@@@@1@21@@oe@2-2-2013
21607008@unknown@formal@none@1@S@BNL called a shareholders' assembly meeting in December to vote on the proposals.@@@@1@13@@oe@2-2-2013
21607009@unknown@formal@none@1@S@BNL has about 75,000 nonvoting shares that are listed on the Milan Stock Exchange.@@@@1@14@@oe@2-2-2013
21607010@unknown@formal@none@1@S@The shares were suspended from trading following disclosure of the Atlanta scandal; Consob, the stock exchange regulatory body, reportedly will decide soon whether to end the trading suspension.@@@@1@28@@oe@2-2-2013
21608001@unknown@formal@none@1@S@Switzerland's wholesale price index increased 0.3% in September from August, and was up 3.9% from a year ago, marking the first time this year that the index has fallen below 4% on a year-to-year basis, the government reported.@@@@1@38@@oe@2-2-2013
21608002@unknown@formal@none@1@S@The government attributed the 0.3% month-to-month rise in the index largely to higher energy prices.@@@@1@15@@oe@2-2-2013
21608003@unknown@formal@none@1@S@In August, the index was up 0.2% from the previous month, and was up 4.5% on a year-to-year basis.@@@@1@19@@oe@2-2-2013
21608004@unknown@formal@none@1@S@The wholesale price index, based on 1963 as 100, was 180.9 in September.@@@@1@13@@oe@2-2-2013
21609001@unknown@formal@none@1@S@American Express Co. posted a 21% increase in third quarter net income despite a sharp rise in reserves for Third World loans at its banking unit.@@@@1@26@@oe@2-2-2013
21609002@unknown@formal@none@1@S@Aided by a sharp gain in its travel business, American Express said net rose to $331.8 million, or 77 cents a share, from $273.9 million, or 64 cents a share.@@@@1@30@@oe@2-2-2013
21609003@unknown@formal@none@1@S@The year-earlier figures included $9.9 million, or three cents a share, in income from discontinued operations.@@@@1@16@@oe@2-2-2013
21609004@unknown@formal@none@1@S@Income from continuing operations was up 26%.@@@@1@7@@oe@2-2-2013
21609005@unknown@formal@none@1@S@Revenue rose 24% to $6.5 billion from $5.23 billion.@@@@1@9@@oe@2-2-2013
21609006@unknown@formal@none@1@S@The travel, investment services, insurance and banking concern added $110 million to reserves for credit losses at its American Express Bank unit, boosting the reserve to $507 million as of Sept. 30.@@@@1@32@@oe@2-2-2013
21609007@unknown@formal@none@1@S@The bank's Third World debt portfolio totals $560 million, down from $2.2 billion at the end of 1986.@@@@1@18@@oe@2-2-2013
21609008@unknown@formal@none@1@S@The bank charged off $53 million in loans during the quarter.@@@@1@11@@oe@2-2-2013
21609009@unknown@formal@none@1@S@At the American Express Travel Related Services Co. unit, net rose 17% to a record $240.8 million on a 19% revenue increase.@@@@1@22@@oe@2-2-2013
21609010@unknown@formal@none@1@S@The figures exclude businesses now organized as American Express Information Services Co.@@@@1@12@@oe@2-2-2013
21609011@unknown@formal@none@1@S@American Express card charge volume rose 12%.@@@@1@7@@oe@2-2-2013
21609012@unknown@formal@none@1@S@Travel sales rose 11%, led by gains in the U.S.@@@@1@10@@oe@2-2-2013
21609013@unknown@formal@none@1@S@At IDS Financial Services, the financial planning and mutual fund unit, net rose 19% to a record $47.6 million on a 33% revenue gain.@@@@1@24@@oe@2-2-2013
21609014@unknown@formal@none@1@S@Assets owned or managed rose 20% to $45 billion, and mutual fund sales rose 45% in the quarter to $923 million.@@@@1@21@@oe@2-2-2013
21609015@unknown@formal@none@1@S@American Express Bank earnings fell 50% to $21.3 million from $42.5 million despite a 29% revenue gain.@@@@1@17@@oe@2-2-2013
21609016@unknown@formal@none@1@S@The results include $106 million of tax benefits associated with previous years' Third World loan activity, compared with $15 million a year earlier.@@@@1@23@@oe@2-2-2013
21609017@unknown@formal@none@1@S@Profit rose 38% at American Express Information Services to $21.6 million.@@@@1@11@@oe@2-2-2013
21609018@unknown@formal@none@1@S@Shearson Lehman Hutton Holdings Inc., as previously reported, had net of $65.9 million, reversing a $3.5 million loss a year earlier; its latest results include a $37 million gain from the sale of an institutional money management business.@@@@1@38@@oe@2-2-2013
21609019@unknown@formal@none@1@S@American Express's share of Shearson's earnings was $41 million, after preferred stock dividends; it owns about 68% of Shearson's common.@@@@1@20@@oe@2-2-2013
21609020@unknown@formal@none@1@S@For the nine months, American Express said net rose 11% to $899.8 million, or $2.09 a share, from $807.5 million, or $1.89 a share.@@@@1@24@@oe@2-2-2013
21609021@unknown@formal@none@1@S@Revenue rose 24% to $18.73 billion from $15.09 billion.@@@@1@9@@oe@2-2-2013
21610001@unknown@formal@none@1@S@Textron Inc., hampered by a slowdown in its defense sales, reported an 8% decline in per-share earnings on nearly flat revenue for its third quarter.@@@@1@25@@oe@2-2-2013
21610002@unknown@formal@none@1@S@The aerospace and financial services concern said net income fell 5% to $59.5 million from $62.8 million.@@@@1@17@@oe@2-2-2013
21610003@unknown@formal@none@1@S@Revenue of $1.73 billion was almost unchanged from last year's $1.72 billion.@@@@1@12@@oe@2-2-2013
21610004@unknown@formal@none@1@S@Per-share net of 66 cents, down from 72 cents, fell by more than overall net because of more shares outstanding.@@@@1@20@@oe@2-2-2013
21610005@unknown@formal@none@1@S@The company said that improved results in its financial-services sector were negated by increased costs in its government contract business, lower operating earnings in its commercial-products sector and soft automotive markets.@@@@1@31@@oe@2-2-2013
21610006@unknown@formal@none@1@S@Net was aided by a lower income tax rate.@@@@1@9@@oe@2-2-2013
21610007@unknown@formal@none@1@S@Profit before taxes fell 17% to $84.4 million from $101.4 million.@@@@1@11@@oe@2-2-2013
21610008@unknown@formal@none@1@S@For the nine months, Textron reported net of $182.1 million, or $2.06 a share, on revenue of $5.41 billion.@@@@1@19@@oe@2-2-2013
21610009@unknown@formal@none@1@S@A year ago, net was $170.4 million, or $1.93 a share, on revenue of $5.3 billion.@@@@1@16@@oe@2-2-2013
21610010@unknown@formal@none@1@S@The nine-month results included a $9.5 million special charge in 1989 for an arbitration settlement related to past export sales, and $29.7 million in extraordinary charges in 1988 related to a former line of business and early redemption of debt.@@@@1@40@@oe@2-2-2013
21610011@unknown@formal@none@1@S@Textron said that nine-months' results don't include earnings of Avdel PLC, a British maker of industrial fasteners, but do include interest costs of $16.4 million on borrowings related to the proposed purchase of Avdel.@@@@1@34@@oe@2-2-2013
21610012@unknown@formal@none@1@S@A federal judge has issued a preliminary injunction against the purchase because of Federal Trade Commission concerns that the transaction would reduce competition in the production of two kinds of rivets.@@@@1@31@@oe@2-2-2013
21610013@unknown@formal@none@1@S@For the quarter, Textron said aerospace revenue, including Bell helicopter and jet-engine manufacture, declined 9.8% to $755.9 million from $838.3 million, an indication of slowing government defense work.@@@@1@28@@oe@2-2-2013
21611001@unknown@formal@none@1@S@As the Hunt brothers' personal bankruptcy cases sputter into their second year, Minpeco S.A. has proposed a deal to settle its huge claim against the troubled Texas oil men.@@@@1@29@@oe@2-2-2013
21611002@unknown@formal@none@1@S@But the plan only threatens to heighten the tension and confusion already surrounding the cases that were filed in September 1988.@@@@1@21@@oe@2-2-2013
21611003@unknown@formal@none@1@S@The Peruvian mineral concern's $251 million claim stems from 1988 jury award in a case stemming from the brothers' alleged attempts to corner the 1979-80 silver market.@@@@1@27@@oe@2-2-2013
21611004@unknown@formal@none@1@S@Minpeco now says it is willing to settle for up to $65.7 million from each brother, although the actual amount would probably be much less.@@@@1@25@@oe@2-2-2013
21611005@unknown@formal@none@1@S@Although the proposal must be approved by federal Judge Harold C. Abramson, W. Herbert Hunt has agreed to the Peruvian mineral concern's proposal.@@@@1@23@@oe@2-2-2013
21611006@unknown@formal@none@1@S@Nelson Bunker Hunt is considering it, although his attorney says he won't do it if the proposal jeopardizes a tentative settlement he has reached with the Internal Revenue Service, which claims the brothers owe $1 billion in back taxes and is by far the biggest creditor in both cases.@@@@1@49@@oe@2-2-2013
21611007@unknown@formal@none@1@S@The tentative agreement between the IRS and Nelson Bunker Hunt is awaiting U.S. Justice Department approval.@@@@1@16@@oe@2-2-2013
21611008@unknown@formal@none@1@S@Under it, the former billionaire's assets would be liquidated with the IRS getting 80% of the proceeds and the rest being divided among other creditors, including Minpeco and Manufacturers Hanover Trust Co., which is seeking repayment of a $36 million loan.@@@@1@41@@oe@2-2-2013
21611009@unknown@formal@none@1@S@A similiar proposal has been made in the W. Herbert Hunt case although he and the IRS are at odds over the size of the non-dischargable debt he would have to pay to the government from future earnings.@@@@1@38@@oe@2-2-2013
21611010@unknown@formal@none@1@S@In both cases, Minpeco and Manufacturers Hanover have been fighting ferociously over their shares of the pie.@@@@1@17@@oe@2-2-2013
21611011@unknown@formal@none@1@S@With support from the IRS, Manufacturers Hanover has filed suit asking Judge Abramson to subordinate Minpeco's claim to those of Manufacturer Hanover and the IRS.@@@@1@25@@oe@2-2-2013
21611012@unknown@formal@none@1@S@Minpeco has threatened a "volcano" of litigation if the Manufacturers Hanover Corp. unit attempts to force such a plan through the court.@@@@1@22@@oe@2-2-2013
21611013@unknown@formal@none@1@S@Minpeco said it wouldn't pursue such litigation if its settlement plan in the W. Herbert Hunt case is approved by Judge Abramson, who will consider the proposal at a hearing next week.@@@@1@32@@oe@2-2-2013
21611014@unknown@formal@none@1@S@Minpeco attorney Thomas Gorman decribed the plan as one step toward an overall settlement of the W. Herbert Hunt case but Hugh Ray, attorney for Manufacturers Hanover, called it "silly" and said he would fight it in court.@@@@1@38@@oe@2-2-2013
21611015@unknown@formal@none@1@S@"The thing is so fluid right now that there's really no way to say what will happen," says Justice Department attorney Grover Hartt III, who represents the IRS in the case.@@@@1@31@@oe@2-2-2013
21611016@unknown@formal@none@1@S@"Developments like this are hard to predict.@@@@1@7@@oe@2-2-2013
21612001@unknown@formal@none@1@S@Banc One Corp. said it agreed in principle to buy five branch offices from Trustcorp Inc., Toledo, Ohio, following the planned merger of Trustcorp into Society Corp., Cleveland.@@@@1@28@@oe@2-2-2013
21612002@unknown@formal@none@1@S@The five offices in Erie and Ottawa counties in northern Ohio have total assets of about $88 million, Banc One said.@@@@1@21@@oe@2-2-2013
21612003@unknown@formal@none@1@S@The purchase price will be established after Banc One has an opportunity to study the quality of the assets, Banc One said.@@@@1@22@@oe@2-2-2013
21612004@unknown@formal@none@1@S@Society Corp. already has branches in the area, and selling the Trustcorp offices could avoid a problem with regulators over excessive concentration of banking in the two counties after the merger of Trustcorp into Society, according to industry sources.@@@@1@39@@oe@2-2-2013
21612005@unknown@formal@none@1@S@The merger is scheduled to take place in the 1990 first quarter.@@@@1@12@@oe@2-2-2013
21613001@unknown@formal@none@1@S@Stock-market fears and relatively more attractive interest rates pushed money-market mutual fund assets up $6.07 billion in the latest week, the sharpest increase in almost two years.@@@@1@27@@oe@2-2-2013
21613002@unknown@formal@none@1@S@The 473 funds tracked by the Investment Company Institute, a Washington-based trade group, rose to $356.1 billion, a record.@@@@1@19@@oe@2-2-2013
21613003@unknown@formal@none@1@S@The $6.07 billion increase was the strongest weekly inflow since January 1988.@@@@1@12@@oe@2-2-2013
21613004@unknown@formal@none@1@S@The increase was spread fairly evenly among all three types of funds.@@@@1@12@@oe@2-2-2013
21613005@unknown@formal@none@1@S@Individual investors, represented in the general-purpose and broker-dealer fund categories, pulled money from the stock market after its big drop last Friday and put the money into funds, said Jacob Dreyer, vice president and chief economist of the Institute.@@@@1@39@@oe@2-2-2013
21613006@unknown@formal@none@1@S@"Insitutional investors, on the other hand, reacted to the steep decline in yields on direct money-market instruments following the stock-market decline last Friday," Mr. Dreyer said.@@@@1@26@@oe@2-2-2013
21613007@unknown@formal@none@1@S@Yields on money funds dropped in the week ended Tuesday, according to Donoghue's Money Fund Report, a Holliston, Mass., newsletter.@@@@1@20@@oe@2-2-2013
21613008@unknown@formal@none@1@S@The average seven-day compounded yield fell to 8.55% from 8.60% the week earlier, Donoghue's said.@@@@1@15@@oe@2-2-2013
21613009@unknown@formal@none@1@S@At the auction of six-month U.S. Treasury bills on Monday, the average yield fell to 7.61% from 7.82%.@@@@1@18@@oe@2-2-2013
21613010@unknown@formal@none@1@S@Likewise, certificates of deposit on average posted lower yields in the week ended Tuesday.@@@@1@14@@oe@2-2-2013
21613011@unknown@formal@none@1@S@The 142 institutional-type money funds rose $2.23 billion to $85.49 billion.@@@@1@11@@oe@2-2-2013
21613012@unknown@formal@none@1@S@The 235 general-purpose funds increased $2.53 billion to $116.56 billion, while 96 broker-dealer funds increased $1.3 billion to $154.05 billion.@@@@1@20@@oe@2-2-2013
21614001@unknown@formal@none@1@S@Domestic lending for real estate and property development was the source of Bank Bumiputra Malaysia Bhd.'s most recent spate of financial troubles, the institution's executive chairman, Mohamed Basir Ismail, said.@@@@1@30@@oe@2-2-2013
21614002@unknown@formal@none@1@S@Speaking to reporters this week after Bank Bumiputra's shareholders approved a rescue plan, Tan Sri Basir said heavy lending to the property sector rocked the bank when property prices in Malaysia plummeted in 1984-85.@@@@1@34@@oe@2-2-2013
21614003@unknown@formal@none@1@S@He said the bank couldn't wait any longer for prices to recover and for borrowers to service their loans.@@@@1@19@@oe@2-2-2013
21614004@unknown@formal@none@1@S@So the bank's board decided to make 1.23 billion Malaysian dollars (US$457 million) in provisions for interest payments from loans previously recorded as revenue but never actually received by the bank, and to submit a bailout package to replenish the bank's paid-up capital.@@@@1@43@@oe@2-2-2013
21614005@unknown@formal@none@1@S@The predicament, he added, was similar to the Hong Kong 1982-83 property-price collapse, which exposed the involvement of Bank Bumiputra's former subsidiary in the colony in the largest banking scandal in Malaysia's history.@@@@1@33@@oe@2-2-2013
21614006@unknown@formal@none@1@S@The subsidiary, Bumiputra Malaysia Finance Ltd., was left with M$2.26 billion in bad loans made to Hong Kong property speculators.@@@@1@20@@oe@2-2-2013
21614007@unknown@formal@none@1@S@Both episodes wiped out Bank Bumiputra's shareholders' funds.@@@@1@8@@oe@2-2-2013
21614008@unknown@formal@none@1@S@Each time, the bank's 90% shareholder -- Petroliam Nasional Bhd., or Petronas, the national oil company -- has been called upon to rescue the institution.@@@@1@25@@oe@2-2-2013
21614009@unknown@formal@none@1@S@In five years, Petronas, which became the dominant shareholder in a 1984 rescue exercise, has spent about M$3.5 billion to prop up the troubled bank.@@@@1@25@@oe@2-2-2013
21614010@unknown@formal@none@1@S@Tan Sri Basir said the capital restructuring plan has been approved by Malaysia's Capital Issues Committee and central bank.@@@@1@19@@oe@2-2-2013
21614011@unknown@formal@none@1@S@Malaysia's High Court is expected to approve the plan.@@@@1@9@@oe@2-2-2013
21614012@unknown@formal@none@1@S@Once the plan is approved, Tan Sri Basir said, most of Bank Bumiputra's nonperforming loans will have been fully provided for and the bank will be on track to report a pretax profit of between M$160 million and M$170 million for the fiscal year ending March 31.@@@@1@47@@oe@2-2-2013
21614013@unknown@formal@none@1@S@For the previous financial year, the bank would have reported a pretax profit of M$168 million if it hadn't made provisions for the nonperforming loans, he said.@@@@1@27@@oe@2-2-2013
21614014@unknown@formal@none@1@S@Malaysia's Banking Secrecy Act prohibited the bank from identifying delinquent borrowers, said Tan Sri Basir.@@@@1@15@@oe@2-2-2013
21614015@unknown@formal@none@1@S@But public documents indicate 10% or more of the bank's provisions were made for foregone interest on a M$200 million loan to Malaysia's dominant political party, the United Malays National Organization, to build its convention and headquarters complex in Kuala Lumpur.@@@@1@41@@oe@2-2-2013
21614016@unknown@formal@none@1@S@The loan to UMNO was made in September 1983.@@@@1@9@@oe@2-2-2013
21614017@unknown@formal@none@1@S@"We lent a lot of money all over the place," said Tan Sri Basir, who refused to discuss the bank's outstanding loans to@@@@1@23@@oe@2-2-2013
21614018@unknown@formal@none@1@S@As well as the M$1.23 billion in provisions announced on Oct. 6, the restructuring package covers an additional M$450 million in provisions made in earlier years but never reflected in a reduction of the bank's paid-up capital.@@@@1@37@@oe@2-2-2013
21614019@unknown@formal@none@1@S@At the end of the exercise, the cash injection from Petronas will increase the bank's paid-up capital to M$1.15 billion after virtually being wiped out by the new provisions.@@@@1@29@@oe@2-2-2013
21615001@unknown@formal@none@1@S@Heidi Ehman might have stepped from a recruiting poster for young Republicans.@@@@1@12@@oe@2-2-2013
21615002@unknown@formal@none@1@S@White, 24 years old, a singer in her church choir, she symbolizes a generation that gave its heart and its vote to Ronald Reagan.@@@@1@24@@oe@2-2-2013
21615003@unknown@formal@none@1@S@"I felt kind of safe," she says.@@@@1@7@@oe@2-2-2013
21615004@unknown@formal@none@1@S@No longer.@@@@1@2@@oe@2-2-2013
21615005@unknown@formal@none@1@S@When the Supreme Court opened the door this year to new restrictions on abortion, Ms. Ehman opened her mind to Democratic politics.@@@@1@22@@oe@2-2-2013
21615006@unknown@formal@none@1@S@Then a political novice, she stepped into a whirl of "pro-choice" marches, house parties and fund-raisers.@@@@1@16@@oe@2-2-2013
21615007@unknown@formal@none@1@S@Now she leads a grassroots abortion-rights campaign in Passaic County for pro-choice Democratic gubernatorial candidate James Florio.@@@@1@17@@oe@2-2-2013
21615008@unknown@formal@none@1@S@"This is one where I cross party lines," she says, rejecting the anti-abortion stance of Rep. Florio's opponent, Reagan-Republican Rep. James Courter.@@@@1@22@@oe@2-2-2013
21615009@unknown@formal@none@1@S@"People my age thought it wasn't going to be an issue.@@@@1@11@@oe@2-2-2013
21615010@unknown@formal@none@1@S@Now it has -- especially for people my age."@@@@1@9@@oe@2-2-2013
21615011@unknown@formal@none@1@S@Polls bear out this warning, but after a decade of increased Republican influence here, the new politics of abortion have contributed to a world turned upside down for Mr. Courter.@@@@1@30@@oe@2-2-2013
21615012@unknown@formal@none@1@S@Unless he closes the gap, Republicans risk losing not only the governorship but also the assembly next month.@@@@1@18@@oe@2-2-2013
21615013@unknown@formal@none@1@S@Going into the 1990s, the GOP is paying a price for the same conservative social agenda that it used to torment Democrats in the past.@@@@1@25@@oe@2-2-2013
21615014@unknown@formal@none@1@S@This change comes less from a shift in public opinion, which hasn't changed much on abortion over the past decade, than in the boundaries of the debate.@@@@1@27@@oe@2-2-2013
21615015@unknown@formal@none@1@S@New Jersey's own highest court remains a liberal bulwark against major restrictions on abortion, but the U.S. Supreme Court ruling, Webster vs. Missouri, has engaged voters across the nation who had been insulated from the issue.@@@@1@36@@oe@2-2-2013
21615016@unknown@formal@none@1@S@Before July, pro-choice voters could safely make political decisions without focusing narrowly on abortion.@@@@1@14@@oe@2-2-2013
21615017@unknown@formal@none@1@S@Now, the threat of further restrictions adds a new dimension, bringing an upsurge in political activity by abortion-rights forces.@@@@1@19@@oe@2-2-2013
21615018@unknown@formal@none@1@S@A recent pro-choice rally in Trenton drew thousands, and in a major reversal, Congress is defying a presidential veto and demanding that Medicaid abortions be permitted in cases of rape and incest.@@@@1@32@@oe@2-2-2013
21615019@unknown@formal@none@1@S@"If Webster hadn't happened, you wouldn't be here," Linda Bowker tells a reporter in the Trenton office of the National Organization for Women.@@@@1@23@@oe@2-2-2013
21615020@unknown@formal@none@1@S@"We could have shouted from the rooftops about Courter . . . and no one would have heard us."@@@@1@19@@oe@2-2-2013
21615021@unknown@formal@none@1@S@New Jersey is a proving ground for this aggressive women's-rights movement this year.@@@@1@13@@oe@2-2-2013
21615022@unknown@formal@none@1@S@The infusion of activists can bring a clash of cultures.@@@@1@10@@oe@2-2-2013
21615023@unknown@formal@none@1@S@In Cherry Hill, the National Abortion Rights Action League, whose goal is to sign up 50,000 pro-choice voters, targets a union breakfast to build labor support for its cause.@@@@1@29@@oe@2-2-2013
21615024@unknown@formal@none@1@S@The league organizers seem more a fit with a convention next door of young aerobics instructors in leotards than the beefy union leaders; "I wish I could go work out," says a slim activist.@@@@1@34@@oe@2-2-2013
21615025@unknown@formal@none@1@S@A labor chief speaks sardonically of having to "man and woman" Election Day phones.@@@@1@14@@oe@2-2-2013
21615026@unknown@formal@none@1@S@No age group is more sensitive than younger voters, like Ms. Ehman.@@@@1@12@@oe@2-2-2013
21615027@unknown@formal@none@1@S@A year ago this fall, New Jersey voters under 30 favored George Bush by 56% to 39% over Michael Dukakis, according to a survey then by Rutgers University's Eagleton Institute.@@@@1@30@@oe@2-2-2013
21615028@unknown@formal@none@1@S@A matching Eagleton-Newark Star Ledger poll last month showed a complete reversal.@@@@1@12@@oe@2-2-2013
21615029@unknown@formal@none@1@S@Voters in the same age group backed Democrat Florio 55% to 29% over Republican Courter.@@@@1@15@@oe@2-2-2013
21615030@unknown@formal@none@1@S@Abortion alone can't explain this shift, but New Jersey is a model of how so personal an issue can become a baseline of sorts in judging a candidate.@@@@1@28@@oe@2-2-2013
21615031@unknown@formal@none@1@S@By a 2-to-1 ratio, voters appear more at ease with Mr. Florio's stance on abortion, and polls indicate his lead widens when the candidates are specifically linked to the issue.@@@@1@30@@oe@2-2-2013
21615032@unknown@formal@none@1@S@"The times are my times," says Mr. Florio.@@@@1@8@@oe@2-2-2013
21615033@unknown@formal@none@1@S@The Camden County congressman still carries himself with a trademark "I'm-coming-down-your-throat" intensity, but at a pause in Newark's Columbus Day parade recently, he was dancing with his wife in the middle of the avenue in the city's old Italian-American ward.@@@@1@40@@oe@2-2-2013
21615034@unknown@formal@none@1@S@After losing by fewer than 1,800 votes in the 1981 governor's race, he has prepared himself methodically for this moment, including deciding in recent years he could no longer support curbs on federal funding for Medicaid abortions.@@@@1@37@@oe@2-2-2013
21615035@unknown@formal@none@1@S@"If you're going to be consistent and say it is a constitutionally protected right," he asks, "how are you going to say an upscale woman who can drive to the hospital or clinic in a nice car has a constitutional right and someone who is not in great shape financially does not?"@@@@1@52@@oe@2-2-2013
21615036@unknown@formal@none@1@S@Mr. Courter, by comparison, seems a shadow of the confident hawk who defended Oliver North before national cameras at Iran-Contra hearings two years ago.@@@@1@24@@oe@2-2-2013
21615037@unknown@formal@none@1@S@Looking back, he says he erred by stating his "personal" opposition to abortion instead of assuring voters that he wouldn't impose his views on "policy" as governor.@@@@1@27@@oe@2-2-2013
21615038@unknown@formal@none@1@S@It is a distinction that satisfies neither side in the debate.@@@@1@11@@oe@2-2-2013
21615039@unknown@formal@none@1@S@"He doesn't know himself," Kathy Stanwick of the Abortion Rights League says of Mr. Courter's position.@@@@1@16@@oe@2-2-2013
21615040@unknown@formal@none@1@S@Even abortion opponents, however angry with Mr. Florio, can't hide their frustration with the Republican's ambivalence.@@@@1@16@@oe@2-2-2013
21615041@unknown@formal@none@1@S@"He doesn't want to lead the people," says Richard Traynor, president of New Jersey Right to Life.@@@@1@17@@oe@2-2-2013
21615042@unknown@formal@none@1@S@Moreover, by stepping outside the state's pro-choice tradition, Mr. Courter aggravates fears that he is too conservative as well on more pressing concerns such as auto insurance rates and the environment.@@@@1@31@@oe@2-2-2013
21615043@unknown@formal@none@1@S@He hurt himself further this summer by bringing homosexual issues into the debate; and by wavering on this issue and abortion, he has weakened his credibility in what is already a mean-spirited campaign on both sides.@@@@1@36@@oe@2-2-2013
21615044@unknown@formal@none@1@S@Elected to Congress in 1978, the 48-year-old Mr. Courter is part of a generation of young conservatives who were once very much in the lead of the rightward shift under Mr. Reagan.@@@@1@32@@oe@2-2-2013
21615045@unknown@formal@none@1@S@Like many of his colleagues, he didn't serve in Vietnam in the 1960s yet embraced a hawkish defense and foreign policy -- even voting against a 1984 resolution critical of the U.S. mining of Nicaraguan harbors.@@@@1@36@@oe@2-2-2013
21615046@unknown@formal@none@1@S@Jack Kemp and the writers Irving Kristol and George Gilder were influences, and Mr. Courter's own conservative credentials proved useful to the current New Jersey GOP governor, Thomas Kean, in the 1981 Republican primary here.@@@@1@35@@oe@2-2-2013
21615047@unknown@formal@none@1@S@The same partnership is now crucial to Mr. Courter's fortunes, but the abortion issue is only a reminder of the gap between his record and that of the more moderate, pro-choice Gov. Kean.@@@@1@33@@oe@2-2-2013
21615048@unknown@formal@none@1@S@While the Warren County congressman pursued an anti-government, anti-tax agenda in Washington, Gov. Kean was approving increased income and sales taxes at home and overseeing a near doubling in the size of New Jersey's budget in his eight years in office.@@@@1@41@@oe@2-2-2013
21615049@unknown@formal@none@1@S@Kean forces play down any differences with Mr. Courter, but this history makes it harder for the conservative to run against government.@@@@1@22@@oe@2-2-2013
21615050@unknown@formal@none@1@S@Mr. Courter's free-market plan to bring down auto insurance rates met criticism from Gov. Kean's own insurance commissioner.@@@@1@18@@oe@2-2-2013
21615051@unknown@formal@none@1@S@Mr. Courter is further hobbled by a record of votes opposed to government regulation on behalf of consumers.@@@@1@18@@oe@2-2-2013
21615052@unknown@formal@none@1@S@Fluent in Spanish from his days in the Peace Corps, Mr. Courter actively courts minority voters but seems oddly over his head.@@@@1@22@@oe@2-2-2013
21615053@unknown@formal@none@1@S@He is warm and polished before a Puerto Rican Congress in Asbury Park.@@@@1@13@@oe@2-2-2013
21615054@unknown@formal@none@1@S@Yet minutes after promising to appoint Hispanics to high posts in state government, he is unable to say whether he has ever employed any in his congressional office.@@@@1@28@@oe@2-2-2013
21615055@unknown@formal@none@1@S@"I don't think we do now," he says.@@@@1@8@@oe@2-2-2013
21615056@unknown@formal@none@1@S@"I think we did."@@@@1@4@@oe@2-2-2013
21615057@unknown@formal@none@1@S@Asked the same question after his appearance, Democrat Florio identifies a staff member by name and explains her whereabouts today.@@@@1@20@@oe@2-2-2013
21615058@unknown@formal@none@1@S@When he is presented with a poster celebrating the organization's 20th anniversary, he recognizes a photograph of one of the founders and recalls time spent together in Camden.@@@@1@28@@oe@2-2-2013
21615059@unknown@formal@none@1@S@Details and Camden are essential Florio.@@@@1@6@@oe@2-2-2013
21615060@unknown@formal@none@1@S@Elected to Congress as a "Watergate baby" in 1974, he ran for governor three years later.@@@@1@16@@oe@2-2-2013
21615061@unknown@formal@none@1@S@In the opinion of many, he hasn't stopped running since, even though he declined a rematch with Gov. Kean in 1985.@@@@1@21@@oe@2-2-2013
21615062@unknown@formal@none@1@S@His base in South Jersey and on the House Energy and Commerce Committee helped him sustain a network of political-action committees to preserve his edge.@@@@1@25@@oe@2-2-2013
21615063@unknown@formal@none@1@S@With limited budgets for television in a high-priced market, Mr. Florio's higher recognition than his rival is a major advantage.@@@@1@20@@oe@2-2-2013
21615064@unknown@formal@none@1@S@More than ever, his pro-consumer and pro-environment record is in sync with the state.@@@@1@14@@oe@2-2-2013
21615065@unknown@formal@none@1@S@Auto insurance rates are soaring.@@@@1@5@@oe@2-2-2013
21615066@unknown@formal@none@1@S@A toxic-waste-dump fire destroyed part of an interstate highway this summer.@@@@1@11@@oe@2-2-2013
21615067@unknown@formal@none@1@S@In Monmouth, an important swing area, Republican freeholders now run on a slogan promising to keep the county "clean and green."@@@@1@21@@oe@2-2-2013
21615068@unknown@formal@none@1@S@Mr. Florio savors this vindication, but at age 52, the congressman is also a product of his times and losses.@@@@1@20@@oe@2-2-2013
21615069@unknown@formal@none@1@S@He speaks for the death penalty as if reading from Exodus 21; to increase state revenue he focuses not on "taxes" but on "audits" to cut waste.@@@@1@27@@oe@2-2-2013
21615070@unknown@formal@none@1@S@Hard-hitting consultants match ads with Mr. Courter's team, and Mr. Florio retools himself as the lean, mean Democratic fighting machine of the 1990s.@@@@1@23@@oe@2-2-2013
21615071@unknown@formal@none@1@S@Appealing to a young audience, he scraps an old reference to Ozzie and Harriet and instead quotes the Grateful Dead.@@@@1@20@@oe@2-2-2013
21615072@unknown@formal@none@1@S@The lyric chosen -- "long strange night" -- may be an apt footnote to television spots by both candidates intended to portray each other as a liar.@@@@1@27@@oe@2-2-2013
21615073@unknown@formal@none@1@S@The Democratic lawmaker fits a pattern of younger reformers arising out of old machines, but his ties to Camden remain a sore point because of the county's past corruption.@@@@1@29@@oe@2-2-2013
21615074@unknown@formal@none@1@S@His campaign hierarchy is chosen from elsewhere in the state, and faced with criticism of a sweetheart bank investment, he has so far blunted the issue by donating the bulk of his profits to his alma mater, Trenton State College.@@@@1@40@@oe@2-2-2013
21615075@unknown@formal@none@1@S@Mr. Florio's forcefulness on the abortion issue after the Webster ruling divides some of his old constituency.@@@@1@17@@oe@2-2-2013
21615076@unknown@formal@none@1@S@Pasquale Pignatelli, an unlikely but enthusiastic pipe major in an Essex County Irish bagpipe band, speaks sadly of Mr. Florio.@@@@1@20@@oe@2-2-2013
21615077@unknown@formal@none@1@S@"I am a devout Catholic," says Mr. Pignatelli, a 40-year-old health officer.@@@@1@12@@oe@2-2-2013
21615078@unknown@formal@none@1@S@"I can't support him because of abortion."@@@@1@7@@oe@2-2-2013
21615079@unknown@formal@none@1@S@Bill Wames Sr., 72, is Catholic too, but unfazed by Mr. Florio's stand on abortion.@@@@1@15@@oe@2-2-2013
21615080@unknown@formal@none@1@S@A security guard at a cargo terminal, he wears a Sons of Italy jacket and cap celebrating "The US 1 Band."@@@@1@21@@oe@2-2-2013
21615081@unknown@formal@none@1@S@"I still think the woman has the right to do with her body as she pleases," he says.@@@@1@18@@oe@2-2-2013
21615082@unknown@formal@none@1@S@"If you want more opinions ask my wife.@@@@1@8@@oe@2-2-2013
21615083@unknown@formal@none@1@S@She has lots of opinions.@@@@1@5@@oe@2-2-2013
21616001@unknown@formal@none@1@S@Consumer prices rose a surprisingly moderate 0.2% in September, pushed up mostly by a jump in clothing costs, the Labor Department reported.@@@@1@22@@oe@2-2-2013
21616002@unknown@formal@none@1@S@Energy costs, which drove wholesale prices up sharply during the month, continued to decline at the retail level, pulling down transportation and helping to ease housing costs.@@@@1@27@@oe@2-2-2013
21616003@unknown@formal@none@1@S@The report was the brightest news the financial markets had seen since before the stock market plunged more than 190 points last Friday.@@@@1@23@@oe@2-2-2013
21616004@unknown@formal@none@1@S@The Dow Jones Industrial Average rallied on the news, closing 39.55 points higher at 2683.20.@@@@1@15@@oe@2-2-2013
21616005@unknown@formal@none@1@S@Bond prices also jumped as traders appeared to read the data as a sign that interest rates may fall.@@@@1@19@@oe@2-2-2013
21616006@unknown@formal@none@1@S@But many economists were not nearly as jubilant.@@@@1@8@@oe@2-2-2013
21616007@unknown@formal@none@1@S@The climb in wholesale energy prices is certain to push up retail energy prices in the next few months, they warned.@@@@1@21@@oe@2-2-2013
21616008@unknown@formal@none@1@S@They also said the dollar is leveling off after a rise this summer that helped to reduce the prices of imported goods.@@@@1@22@@oe@2-2-2013
21616009@unknown@formal@none@1@S@"I think inflation is going to pick up through the fall," said Joel Popkin, a specialist on inflation who runs an economic consulting firm here.@@@@1@25@@oe@2-2-2013
21616010@unknown@formal@none@1@S@"It has been in what I would describe as a lull for the past several months."@@@@1@16@@oe@2-2-2013
21616011@unknown@formal@none@1@S@"We've had whopping declines in consumer energy prices in each of the past three months, and at the wholesale level those are fully behind us now," said Jay Woodworth, chief domestic economist at Bankers Trust Co. in New York.@@@@1@39@@oe@2-2-2013
21616012@unknown@formal@none@1@S@Because wholesale energy prices shot up by a steep 6.5% last month, many analysts expected energy prices to rise at the consumer level too.@@@@1@24@@oe@2-2-2013
21616013@unknown@formal@none@1@S@As a result, many economists were expecting the consumer price index to increase significantly more than it did.@@@@1@18@@oe@2-2-2013
21616014@unknown@formal@none@1@S@But retail energy prices declined 0.9% in September.@@@@1@8@@oe@2-2-2013
21616015@unknown@formal@none@1@S@Though analysts say competition will probably hold down increases in retail energy prices, many expect some of the wholesale rise to be passed along to the consumer before the end of the year.@@@@1@33@@oe@2-2-2013
21616016@unknown@formal@none@1@S@Still, some analysts insisted that the worst of the inflation is behind.@@@@1@12@@oe@2-2-2013
21616017@unknown@formal@none@1@S@"It increasingly appears that 1987-88 was a temporary inflation blip and not the beginning of a cyclical inflation problem," argued Edward Yardeni, chief economist at Prudential-Bache Securities Inc. in New York.@@@@1@31@@oe@2-2-2013
21616018@unknown@formal@none@1@S@In both 1987 and 1988, consumer prices rose 4.4%.@@@@1@9@@oe@2-2-2013
21616019@unknown@formal@none@1@S@A run-up in world oil prices last winter sent consumer prices soaring at a 6.7% annual rate in the first five months of this year, but the subsequent decline in energy prices has pulled the annual rate back down to 4.4%.@@@@1@41@@oe@2-2-2013
21616020@unknown@formal@none@1@S@Mr. Yardeni predicted that world business competition will continue to restrain prices.@@@@1@12@@oe@2-2-2013
21616021@unknown@formal@none@1@S@"The bottom line is, it seems to me that the economic environment has become very, very competitve for a lot of businesses," he said.@@@@1@24@@oe@2-2-2013
21616022@unknown@formal@none@1@S@"Back in 1987-88, business was operating at fairly tight capacity, so businesses felt they could raise prices."@@@@1@17@@oe@2-2-2013
21616023@unknown@formal@none@1@S@Now, he said, a slowdown in economic activity has slackened demand.@@@@1@11@@oe@2-2-2013
21616024@unknown@formal@none@1@S@The mild inflation figures renewed investors' hopes that the Federal Reserve will ease its interest-rate stance.@@@@1@16@@oe@2-2-2013
21616025@unknown@formal@none@1@S@The steep climb in producer prices reported last Friday fostered pessimism about lower interest rates and contributed to the stock market's 6.9% plunge that day.@@@@1@25@@oe@2-2-2013
21616026@unknown@formal@none@1@S@In the past several days, however, the U.S.'s central bank has allowed a key interest rate to fall slightly to try to stabilize the markets.@@@@1@25@@oe@2-2-2013
21616027@unknown@formal@none@1@S@Analysts say Fed policy makers have been wary of relaxing credit too much because they were still uncertain about the level of inflation in the economy.@@@@1@26@@oe@2-2-2013
21616028@unknown@formal@none@1@S@Excluding the volatile categories of energy and food -- leaving what some economists call the core inflation rate -- consumer prices still rose only 0.2% in September.@@@@1@27@@oe@2-2-2013
21616029@unknown@formal@none@1@S@Transportation costs actually fell 0.5%, and housing costs gained only 0.1%.@@@@1@11@@oe@2-2-2013
21616030@unknown@formal@none@1@S@Apparel prices rocketed up 1.7%, but that was after three months of declines.@@@@1@13@@oe@2-2-2013
21616031@unknown@formal@none@1@S@Medical costs continued their steep ascent, rising 0.8% after four consecutive months of 0.7% increases.@@@@1@15@@oe@2-2-2013
21616032@unknown@formal@none@1@S@Car prices, another area that contributed to the steep rise in the wholesale index last month, still showed declines at the consumer level.@@@@1@23@@oe@2-2-2013
21616033@unknown@formal@none@1@S@They dropped 0.4% as dealers continued to offer rebates to attract customers.@@@@1@12@@oe@2-2-2013
21616034@unknown@formal@none@1@S@Food prices rose 0.2% for the second month in a row, far slower than the monthly rises earlier in the year.@@@@1@21@@oe@2-2-2013
21616035@unknown@formal@none@1@S@Separately, the Labor Department reported that average weekly earnings rose 0.3% in September, after adjusting for inflation, following a 0.7% decline in August.@@@@1@23@@oe@2-2-2013
21616036@unknown@formal@none@1@S@All the numbers are adjusted for seasonal fluctuations.@@@@1@8@@oe@2-2-2013
21616037@unknown@formal@none@1@S@Here are the seasonally adjusted changes in the components of the Labor Department's consumer price index for September.@@@@1@18@@oe@2-2-2013
21617001@unknown@formal@none@1@S@After watching interest in the sport plummet for years, the ski industry is trying to give itself a lift.@@@@1@19@@oe@2-2-2013
21617002@unknown@formal@none@1@S@Across the country, resorts are using everything from fireworks to classical-music concerts to attract new customers.@@@@1@16@@oe@2-2-2013
21617003@unknown@formal@none@1@S@Some have built health spas, business centers and shopping villages so visitors have more to do than ski.@@@@1@18@@oe@2-2-2013
21617004@unknown@formal@none@1@S@And this week, the industry's efforts will go national for the first time when it unveils a $7 million advertising campaign.@@@@1@21@@oe@2-2-2013
21617005@unknown@formal@none@1@S@Such efforts -- unheard of only a few years ago -- are the latest attempts to revive the sagging $1.76 billion U.S. ski industry.@@@@1@24@@oe@2-2-2013
21617006@unknown@formal@none@1@S@Since the start of the decade, lift-ticket sales have grown only 3% a year on average, compared with 16% annual growth rates in the '60s and '70s.@@@@1@27@@oe@2-2-2013
21617007@unknown@formal@none@1@S@Last season, lift-ticket sales fell for the first time in seven years.@@@@1@12@@oe@2-2-2013
21617008@unknown@formal@none@1@S@By some estimates, nearly a fourth of all U.S. ski areas have been forced to shut down since the early '80s.@@@@1@21@@oe@2-2-2013
21617009@unknown@formal@none@1@S@Competition and mounting insurance and equipment costs have been the undoing of many resorts.@@@@1@14@@oe@2-2-2013
21617010@unknown@formal@none@1@S@But another big problem has been the aging of baby boomers.@@@@1@11@@oe@2-2-2013
21617011@unknown@formal@none@1@S@Skiing, after all, has mainly been for the young and daring and many baby boomers have outgrown skiing or have too many family responsibilities to stick with the sport.@@@@1@29@@oe@2-2-2013
21617012@unknown@formal@none@1@S@In its new ad campaign, created by D'Arcy Masius Benton & Bowles Inc., Chicago, the ski industry is trying to change its image as a sport primarily for young white people.@@@@1@31@@oe@2-2-2013
21617013@unknown@formal@none@1@S@One 60-second TV spot features a diverse group of skiers gracefully gliding down sun-drenched slopes: senior citizens, minorities, families with children -- even a blind skier.@@@@1@26@@oe@2-2-2013
21617014@unknown@formal@none@1@S@"Ski school is great," cries out a tot, bundled in a snowsuit as he plows down a bunny slope.@@@@1@19@@oe@2-2-2013
21617015@unknown@formal@none@1@S@"You'll never know 'til you try," says a black skier.@@@@1@10@@oe@2-2-2013
21617016@unknown@formal@none@1@S@"We used to show some hot-dog skier in his twenties or thirties going over the edge of a cliff," says Kathe Dillmann, a spokeswoman for the United Ski Industries Association, the trade group sponsoring the campaign.@@@@1@36@@oe@2-2-2013
21617017@unknown@formal@none@1@S@Ski promotions have traditionally avoided the touchy issue of safety.@@@@1@10@@oe@2-2-2013
21617018@unknown@formal@none@1@S@But the new commercials deal with it indirectly by showing a woman smiling as she tries to get up from a fall.@@@@1@22@@oe@2-2-2013
21617019@unknown@formal@none@1@S@"We wanted to show it's okay if you fall," says Ms. Dillmann.@@@@1@12@@oe@2-2-2013
21617020@unknown@formal@none@1@S@"Most people think if you slip, you'll wind up in a body cast."@@@@1@13@@oe@2-2-2013
21617021@unknown@formal@none@1@S@The ad campaign represents an unusual spirit of cooperation among resorts and ski equipment makers; normally, they only run ads hyping their own products and facilities.@@@@1@26@@oe@2-2-2013
21617022@unknown@formal@none@1@S@But in these crunch times for the ski industry, some resorts, such as the Angel Fire, Red River and Taos ski areas in New Mexico, have even started shuttle-busing skiers to each other's slopes and next year plan to sell tickets good for all local lifts.@@@@1@46@@oe@2-2-2013
21617023@unknown@formal@none@1@S@Many resorts also are focusing more on the service side of their business.@@@@1@13@@oe@2-2-2013
21617024@unknown@formal@none@1@S@Since 40% of skiers are parents, many slopes are building nurseries, expanding ski schools and adding entertainment for kids.@@@@1@19@@oe@2-2-2013
21617025@unknown@formal@none@1@S@Vail, Colo., now has a playland that looks like an old mining town; kids can ski through and pan for fool's gold.@@@@1@22@@oe@2-2-2013
21617026@unknown@formal@none@1@S@For $15, they can enjoy their own nightly entertainment, with dinner, without mom and dad.@@@@1@15@@oe@2-2-2013
21617027@unknown@formal@none@1@S@A few years ago, parents usually had to hire a sitter or take turns skiing while one spouse stayed with the children.@@@@1@22@@oe@2-2-2013
21617028@unknown@formal@none@1@S@"Most parents who had to go through that never came back," says Michael Shannon, president of Vail Associates Inc., which owns and operates the Vail and nearby Beaver Creek resorts.@@@@1@30@@oe@2-2-2013
21617029@unknown@formal@none@1@S@To make skiing more convenient for time-strapped visitors, several resorts are buying or starting their own travel agencies.@@@@1@18@@oe@2-2-2013
21617030@unknown@formal@none@1@S@In one phone call, ski buffs can make hotel and restaurant reservations, buy lift tickets, rent ski equipment and sign up for lessons.@@@@1@23@@oe@2-2-2013
21617031@unknown@formal@none@1@S@And resorts are adding other amenities, such as pricey restaurants, health spas and vacation packages with a twist.@@@@1@18@@oe@2-2-2013
21617032@unknown@formal@none@1@S@During Winter Carnival week, for example, visitors at Sunday River in Maine can take a hot-air balloon ride.@@@@1@18@@oe@2-2-2013
21617033@unknown@formal@none@1@S@"People these days want something else to do besides ski and sit in the bar," says Don Borgeson, executive director of Angel Fire, N.M.'s Chamber of Commerce.@@@@1@27@@oe@2-2-2013
21617034@unknown@formal@none@1@S@The ski industry hopes to increase the number of skiers by 3.5 million to about 21.7 million in the next five years with its latest ads and promotions.@@@@1@28@@oe@2-2-2013
21617035@unknown@formal@none@1@S@But some think that's being overly optimistic.@@@@1@7@@oe@2-2-2013
21617036@unknown@formal@none@1@S@For one thing, it may be tough to attract people because skiing is still expensive: a lift ticket can cost up to $35 a day and equipment prices are rising.@@@@1@30@@oe@2-2-2013
21617037@unknown@formal@none@1@S@And most vacationers still prefer a warm climate for their winter excursions.@@@@1@12@@oe@2-2-2013
21617038@unknown@formal@none@1@S@An American Express Co. survey of its travel agents revealed that only 34% believe their clients will pick a trip this winter based on the availability of winter sports, as opposed to 69% who think that warm-weather sports will be the deciding factor.@@@@1@43@@oe@2-2-2013
21617039@unknown@formal@none@1@S@"Even if they could bring in that many new skiers, I don't know if {the industry} could handle that kind of an increase," says I. William Berry, editor and publisher of the Ski Industry Letter in Katonah, N.Y.@@@@1@38@@oe@2-2-2013
21617040@unknown@formal@none@1@S@"Most people will come on the weekend, the slopes will be overcrowded and then these {new skiers} won't come back.@@@@1@20@@oe@2-2-2013
21618001@unknown@formal@none@1@S@They didn't play the third game of the World Series on Tuesday night as scheduled, and they didn't play it on Wednesday or Thursday either.@@@@1@25@@oe@2-2-2013
21618002@unknown@formal@none@1@S@But you knew that, didn't you?@@@@1@6@@oe@2-2-2013
21618003@unknown@formal@none@1@S@They are supposed to play the game next Tuesday, in Candlestick Park here.@@@@1@13@@oe@2-2-2013
21618004@unknown@formal@none@1@S@The theory is that the stadium, damaged by Tuesday's earthquake, will be repaired by then, and that people will be able to get there.@@@@1@24@@oe@2-2-2013
21618005@unknown@formal@none@1@S@Like just about everything else, that remains to be seen.@@@@1@10@@oe@2-2-2013
21618006@unknown@formal@none@1@S@Aftershocks could intervene.@@@@1@3@@oe@2-2-2013
21618007@unknown@formal@none@1@S@But, at least, the law of averages should have swung to the favorable side.@@@@1@14@@oe@2-2-2013
21618008@unknown@formal@none@1@S@It may seem trivial to worry about the World Series amid the destruction to the Bay Area wrought by Tuesday's quake, but the name of this column is "On Sports," so I feel obliged to do so.@@@@1@37@@oe@2-2-2013
21618009@unknown@formal@none@1@S@You might be interested to know that baseball, not survival, appeared to be the first thought of most of the crowd of 60,000-odd that had gathered at Candlestick at 5:04 p.m. Tuesday, a half-hour before game time, when the quake struck.@@@@1@41@@oe@2-2-2013
21618010@unknown@formal@none@1@S@As soon as the tremor passed, many people spontaneously arose and cheered, as though it had been a novel kind of pre-game show.@@@@1@23@@oe@2-2-2013
21618011@unknown@formal@none@1@S@One fan, seated several rows in front of the open, upper-deck auxiliary press section where I was stationed, faced the assembled newsies and laughingly shouted, "We arranged that just for you guys!"@@@@1@32@@oe@2-2-2013
21618012@unknown@formal@none@1@S@I thought and, I'm sure, others did: "You shouldn't have bothered."@@@@1@11@@oe@2-2-2013
21618013@unknown@formal@none@1@S@I'd slept through my only previous brush with natural disaster, a tornado 15 or so summers ago near Traverse City, Mich., so I was unprepared for one reaction to such things: the urge to talk about them.@@@@1@37@@oe@2-2-2013
21618014@unknown@formal@none@1@S@Perhaps primed by the daily diet of radio and TV reporters thrusting microphones into people's faces and asking how they "feel" about one calamity or another, fellow reporters and civilians who spied my press credential were eager to chat.@@@@1@39@@oe@2-2-2013
21618015@unknown@formal@none@1@S@"It felt like I was on a station platform and a train went by," said one man, describing my own reaction.@@@@1@21@@oe@2-2-2013
21618016@unknown@formal@none@1@S@A women said she saw the park's light standards sway.@@@@1@10@@oe@2-2-2013
21618017@unknown@formal@none@1@S@A man said he saw the upper rim undulate.@@@@1@9@@oe@2-2-2013
21618018@unknown@formal@none@1@S@I saw neither.@@@@1@3@@oe@2-2-2013
21618019@unknown@formal@none@1@S@Dictates of good sense to the contrary not withstanding, the general inclination was to believe that the disturbance would be brief and that ball would be played.@@@@1@27@@oe@2-2-2013
21618020@unknown@formal@none@1@S@"I was near the top of the stadium, and saw a steel girder bow six feet from where I sat, but I stayed put for 10 or 15 minutes," confessed a friend.@@@@1@32@@oe@2-2-2013
21618021@unknown@formal@none@1@S@"I guess I thought, `This is the World Series and I'm not gonna wimp out!'"@@@@1@15@@oe@2-2-2013
21618022@unknown@formal@none@1@S@Here in the Global Village, though, folks do not stay uninformed for long.@@@@1@13@@oe@2-2-2013
21618023@unknown@formal@none@1@S@Electrical power was out in still-daylighted Candlestick Park, but battery-operated radios and television sets were plentiful.@@@@1@16@@oe@2-2-2013
21618024@unknown@formal@none@1@S@Within a few minutes, the true extent of the catastrophe was becoming clear.@@@@1@13@@oe@2-2-2013
21618025@unknown@formal@none@1@S@Its Richter Scale measurement was reported as 6.5, then 6.9, then 7.0.@@@@1@12@@oe@2-2-2013
21618026@unknown@formal@none@1@S@A section of the Bay Bridge had collapsed, as had a part of Interstate Highway 880 in Oakland.@@@@1@18@@oe@2-2-2013
21618027@unknown@formal@none@1@S@People had died.@@@@1@3@@oe@2-2-2013
21618028@unknown@formal@none@1@S@At 5:40 p.m., scheduled game time having passed, some fans chanted "Let's Play Ball."@@@@1@14@@oe@2-2-2013
21618029@unknown@formal@none@1@S@No longer innocent, they qualified as fools.@@@@1@7@@oe@2-2-2013
21618030@unknown@formal@none@1@S@The stadium was ordered evacuated soon afterward; the announcement, made over police bullhorns, cited the power outage, but it later was revealed that there also had been damage of the sort reported by my friend.@@@@1@35@@oe@2-2-2013
21618031@unknown@formal@none@1@S@Outside, I spotted two young men lugging blocks of concrete.@@@@1@10@@oe@2-2-2013
21618032@unknown@formal@none@1@S@"Pieces of Candlestick," they said.@@@@1@5@@oe@2-2-2013
21618033@unknown@formal@none@1@S@The crowd remained good natured, even bemused.@@@@1@7@@oe@2-2-2013
21618034@unknown@formal@none@1@S@TV reporters interviewed fans in the parking lots while, a few feet away, others watched the interviews on their portable TVs.@@@@1@21@@oe@2-2-2013
21618035@unknown@formal@none@1@S@The only frenzy I saw was commercial: Booths selling World Series commemorative stamps and dated postmarks were besieged by fledgling speculators who saw future profit in the items.@@@@1@28@@oe@2-2-2013
21618036@unknown@formal@none@1@S@The traffic jam out of the park was monumental.@@@@1@9@@oe@2-2-2013
21618037@unknown@formal@none@1@S@It took me a half-hour to move 10 feet from my parking spot in an outer lot to an aisle, and an additional hour to reach an inner roadway a half-block away.@@@@1@32@@oe@2-2-2013
21618038@unknown@formal@none@1@S@The six-mile trip to my airport hotel that had taken 20 minutes earlier in the day took more than three hours.@@@@1@21@@oe@2-2-2013
21618039@unknown@formal@none@1@S@At my hotel, the Westin, power was out, some interior plaster had broken loose and there had been water damage, but little else.@@@@1@23@@oe@2-2-2013
21618040@unknown@formal@none@1@S@With Garpian randomness, a hotel across the street, the Amfac, had been hit harder: A large sheet of its concrete facade and several window balconies were torn away.@@@@1@28@@oe@2-2-2013
21618041@unknown@formal@none@1@S@The Westin staff had, kindly, set out lighted candles in the ballroom, prepared a cold-cuts buffet and passed around pillows and blankets.@@@@1@22@@oe@2-2-2013
21618042@unknown@formal@none@1@S@I fell asleep on the lobby floor, next to a man wearing a Chicago Cubs jacket.@@@@1@16@@oe@2-2-2013
21618043@unknown@formal@none@1@S@I expected him to say, "I told you so," but he already was snoring.@@@@1@14@@oe@2-2-2013
21618044@unknown@formal@none@1@S@The journalistic consensus was that the earthquake made the World Series seem unimportant.@@@@1@13@@oe@2-2-2013
21618045@unknown@formal@none@1@S@My response was that sports rarely are important, only diverting, and the quake merely highlighted that fact.@@@@1@17@@oe@2-2-2013
21618046@unknown@formal@none@1@S@Should the rest of the Series be played at all?@@@@1@10@@oe@2-2-2013
21618047@unknown@formal@none@1@S@Sure.@@@@1@1@@oe@2-2-2013
21618048@unknown@formal@none@1@S@The quake and baseball weren't related, unlike the massacre of athletes that attended the 1972 Olympics.@@@@1@16@@oe@2-2-2013
21618049@unknown@formal@none@1@S@That heavily politicized event learned nothing from the horrifying experience, and seems doomed to repeat it.@@@@1@16@@oe@2-2-2013
21618050@unknown@formal@none@1@S@Two ironies intrude.@@@@1@3@@oe@2-2-2013
21618051@unknown@formal@none@1@S@This has been widely dubbed the BART Series, after the local subway line, and the Bay Bridge Series.@@@@1@18@@oe@2-2-2013
21618052@unknown@formal@none@1@S@Flags fly at half-staff for the death of Bart Giamatti, the late baseball commissioner, and now the Bay Bridge lies in ruins.@@@@1@22@@oe@2-2-2013
21618053@unknown@formal@none@1@S@A Series that was shaping up as the dullest since the one-sided Detroit-over-San Diego go of 1984 has become memorable in the least fortunate way.@@@@1@25@@oe@2-2-2013
21618054@unknown@formal@none@1@S@Still, its edge is lost.@@@@1@5@@oe@2-2-2013
21618055@unknown@formal@none@1@S@It now will be played mostly for the record, and should be wrapped up as quickly as possible, without "off" days.@@@@1@21@@oe@2-2-2013
21618056@unknown@formal@none@1@S@And I will never again complain about a rainout.@@@@1@9@@oe@2-2-2013
21619001@unknown@formal@none@1@S@The disarray in the junk-bond market that began last month with a credit crunch at Campeau Corp. has offered commercial banks a golden opportunity to play a greater role in financing billion-dollar takeovers.@@@@1@33@@oe@2-2-2013
21619002@unknown@formal@none@1@S@But two big New York banks seem to have kicked those chances away, for the moment, with the embarrassing failure of Citicorp and Chase Manhattan Corp. to deliver $7.2 billion in bank financing for a leveraged buy-out of United Airlines parent UAL Corp.@@@@1@43@@oe@2-2-2013
21619003@unknown@formal@none@1@S@For more than a decade, banks have been pressing Congress and banking regulators for expanded powers to act like securities firms in playing Wall Street's lucrative takeover game, from giving mergers advice all the way to selling and trading high-yield junk bonds.@@@@1@42@@oe@2-2-2013
21619004@unknown@formal@none@1@S@Those expanded powers reached their zenith in July when Bankers Trust New York Corp. provided mergers advice, an equity investment and bank loans for the $3.65 billion leveraged buy-out of Northwest Airlines parent NWA Inc.@@@@1@35@@oe@2-2-2013
21619005@unknown@formal@none@1@S@One of the major selling points used by Los Angeles financier Alfred Checchi in getting the takeover approved was that the deal didn't include any junk bonds.@@@@1@27@@oe@2-2-2013
21619006@unknown@formal@none@1@S@That was seen as an advantage in lobbying airline employees and Washington regulators for approval of the contested takeover.@@@@1@19@@oe@2-2-2013
21619007@unknown@formal@none@1@S@All $3.35 billion in debt for the deal was supplied by banks.@@@@1@12@@oe@2-2-2013
21619008@unknown@formal@none@1@S@Charles Nathan, co-head of mergers and acquisitions at Salomon Brothers Inc., says it is natural for banks to try to expand beyond their bread-and-butter business of providing senior debt for buy-outs.@@@@1@31@@oe@2-2-2013
21619009@unknown@formal@none@1@S@But the UAL collapse, he says, "may tell you it's not going to work that easily."@@@@1@16@@oe@2-2-2013
21619010@unknown@formal@none@1@S@David Batchelder, a mergers adviser in La Jolla, Calif., who aided Los Angeles investor Marvin Davis on the bids which put both UAL and NWA in play as takeover candidates this year, says that banks have been "preparing to play a larger and larger role in acquisition financing."@@@@1@48@@oe@2-2-2013
21619011@unknown@formal@none@1@S@Mr. Batchelder says that in the past, banks would normally have loaned 65% of a total buy-out price, with the loans secured by the target company's assets.@@@@1@27@@oe@2-2-2013
21619012@unknown@formal@none@1@S@Another 20% of the borrowed funds would come from the sale to investors of junk bonds, which offer less security and typically carry higher yields than bank loans.@@@@1@28@@oe@2-2-2013
21619013@unknown@formal@none@1@S@Mr. Checchi's purchase of NWA, Mr. Batchelder notes, "was probably the most aggressive to date," with bank debt at 85% of the purchase price.@@@@1@24@@oe@2-2-2013
21619014@unknown@formal@none@1@S@But Mr. Batchelder says that Citicorp's "failure to deliver" on its promise to raise the UAL bank debt for a labor-management buy-out group "is very distressing to potential users of a `highly-confident' letter from commercial banks."@@@@1@36@@oe@2-2-2013
21619015@unknown@formal@none@1@S@His client, Mr. Davis, used just such a letter from Citicorp in pursuing UAL; Citicorp later agreed to work with a competing UAL buy-out group.@@@@1@25@@oe@2-2-2013
21619016@unknown@formal@none@1@S@Executives of Citicorp and Chase Manhattan declined to comment on either the UAL situation, or on the changing nature of banks' role in financing takeovers.@@@@1@25@@oe@2-2-2013
21619017@unknown@formal@none@1@S@In the wake of Campeau's problems, prices of junk bonds tumbled, throwing into doubt the ability of corporate acquirers to finance large takeovers with the help of junk bond sales.@@@@1@30@@oe@2-2-2013
21619018@unknown@formal@none@1@S@Mark Solow, senior managing director at Manufacturers Hanover Trust Co., says the falloff in junk bonds may yet open new business opportunities to banks in structuring takeovers.@@@@1@27@@oe@2-2-2013
21619019@unknown@formal@none@1@S@But he warns that banks will have "to have enough discipline" not to make loans that are too risky.@@@@1@19@@oe@2-2-2013
21619020@unknown@formal@none@1@S@In fact, Manufacturers Hanover said in its third-quarter earnings report that fees from syndicating loans to other banks dropped 48%, to $21 million.@@@@1@23@@oe@2-2-2013
21619021@unknown@formal@none@1@S@"We didn't take part in a lot of deals because their credit quality was poor," says a bank spokesman.@@@@1@19@@oe@2-2-2013
21619022@unknown@formal@none@1@S@James B. Lee, head of syndications and private placements at Chemical Banking Corp., said he believes banks can still make a credible offer of one-stop shopping for takeover finance.@@@@1@29@@oe@2-2-2013
21619023@unknown@formal@none@1@S@As evidence, he cites yesterday's arrangement for the final financing of a $3 billion bid for American Medical International Inc. in which Chemical served as both the lead bank and an equity investor.@@@@1@33@@oe@2-2-2013
21619024@unknown@formal@none@1@S@Beyond the current weakness in the junk bond market, banks have another advantage over investment banks in financing contested takeovers.@@@@1@20@@oe@2-2-2013
21619025@unknown@formal@none@1@S@Arthur Fleischer Jr., a takeover lawyer at Fried Frank Harris Shriver & Jacobson, notes that "a political and emotional bias" has developed against junk bonds.@@@@1@25@@oe@2-2-2013
21619026@unknown@formal@none@1@S@One hostile bidder who deliberately avoided using junk bonds was Paramount Communications Inc. in its initial offer to acquire Time Inc. for $10.7 billion, or $175 a share.@@@@1@28@@oe@2-2-2013
21619027@unknown@formal@none@1@S@A Paramount spokesman says that decision was based on the financial, not political, drawbacks of junk bonds.@@@@1@17@@oe@2-2-2013
21619028@unknown@formal@none@1@S@But some observers believe Paramount Chairman Martin Davis wanted to avoid the possible taint of being perceived as a corporate raider in his controversial bid for Time.@@@@1@27@@oe@2-2-2013
21619029@unknown@formal@none@1@S@In the end, Mr. Davis used junk bonds so that he could raise Paramount's bid to $200 a share.@@@@1@19@@oe@2-2-2013
21619030@unknown@formal@none@1@S@Some Monday-morning quarterbacks said the initial lower bid, without junk bonds, was a factor in his losing the company.@@@@1@19@@oe@2-2-2013
21619031@unknown@formal@none@1@S@Time eluded Paramount by acquiring Warner Communications Inc.@@@@1@8@@oe@2-2-2013
21619032@unknown@formal@none@1@S@The success of the NWA financing, and the failure of the UAL deal, also seem to highlight the important new role in takeover financing being played by Japanese banks.@@@@1@29@@oe@2-2-2013
21619033@unknown@formal@none@1@S@Japanese banks accounted for 50% of the NWA bank debt, according to a report by Transportation Secretary Samuel Skinner.@@@@1@19@@oe@2-2-2013
21619034@unknown@formal@none@1@S@But it was broad-scale rejection by Japanese banks that helped seal the fate of the attempt to buy UAL.@@@@1@19@@oe@2-2-2013
21619035@unknown@formal@none@1@S@Citicorp and Chase are attempting to put together a new, lower bid.@@@@1@12@@oe@2-2-2013
21619036@unknown@formal@none@1@S@Takanori Mizuno, chief economist of the Institute for Financial Affairs Inc., a Tokyo research center on finance and economics, says, "The junk bond market became very jittery, and there's a fear of a coming recession and the possible bankruptcy of LBO companies.@@@@1@42@@oe@2-2-2013
21620001@unknown@formal@none@1@S@Harley-Davidson Inc. filed suit in federal court here, alleging that a group that holds 6.2% of its stock made "false, deceptive and misleading" statements in recent regulatory filings and public announcements.@@@@1@31@@oe@2-2-2013
21620002@unknown@formal@none@1@S@Harley-Davidson's complaint claims that the group, led by investor Malcolm I. Glazer, violated securities laws by failing to disclose plans to purchase 15% of the company's shares outstanding and that when the required Hart-Scott-Rodino filing eventually was made, it didn't disclose the group's alleged earlier violation of the so-called prior-notice requirements of the law.@@@@1@54@@oe@2-2-2013
21620003@unknown@formal@none@1@S@Mr. Glazer couldn't immediately be reached to comment.@@@@1@8@@oe@2-2-2013
21620004@unknown@formal@none@1@S@But when Harley last week publicly questioned the legality of the group's filing procedures, the Rochester, N.Y., investor said "we complied with every law," and he denied any wrongdoing.@@@@1@29@@oe@2-2-2013
21620005@unknown@formal@none@1@S@The Glazer group said in a Securities and Exchange Commission filing in early October that it may seek a controlling interest in Harley-Davidson, or seek representation on the company's board.@@@@1@30@@oe@2-2-2013
21620006@unknown@formal@none@1@S@Harley has said it doesn't intend to be acquired by the Glazer group or any other party.@@@@1@17@@oe@2-2-2013
21621001@unknown@formal@none@1@S@Inland Steel Industries Inc., battered by lower volume and higher costs, posted a 75% drop in third-quarter earnings.@@@@1@18@@oe@2-2-2013
21621002@unknown@formal@none@1@S@The nation's fourth-largest steelmaker earned $18.3 million, or 43 cents a share, compared with $61 million, or $1.70 a share, a year earlier, when the industry was enjoying peak demand and strong pricing.@@@@1@33@@oe@2-2-2013
21621003@unknown@formal@none@1@S@Sales fell to $981.2 million from $1.02 billion.@@@@1@8@@oe@2-2-2013
21621004@unknown@formal@none@1@S@The earnings also mark a significant drop from the second quarter's $45.3 million or $1.25 a share.@@@@1@17@@oe@2-2-2013
21621005@unknown@formal@none@1@S@Moreover, the earnings were well below analysts' expectations of about $1.16 a share.@@@@1@13@@oe@2-2-2013
21621006@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Inland closed yesterday at $35.875 a share, down $1.@@@@1@18@@oe@2-2-2013
21621007@unknown@formal@none@1@S@The company attributed the earnings drop to lower volume related to seasonal demand and the soft consumer durable market, especially in the automotive sector.@@@@1@24@@oe@2-2-2013
21621008@unknown@formal@none@1@S@However, the company also lost orders because of prolonged labor talks in the second quarter.@@@@1@15@@oe@2-2-2013
21621009@unknown@formal@none@1@S@Third-quarter shipments slipped 7% from the year-ago period, and 17% from this year's second quarter.@@@@1@15@@oe@2-2-2013
21621010@unknown@formal@none@1@S@Profit of steel shipped for the company's steel segment slid to $26 a ton, from $66 a ton a year earlier and $57 a ton a quarter earlier.@@@@1@28@@oe@2-2-2013
21621011@unknown@formal@none@1@S@Analysts noted that the disappointing results don't reflect lower prices for steel products.@@@@1@13@@oe@2-2-2013
21621012@unknown@formal@none@1@S@Charles Bradford, an analyst with Merrill Lynch Capital Markets, said higher prices for galvanized and cold-rolled products offset lower prices for bar, hot-rolled and structural steel.@@@@1@26@@oe@2-2-2013
21621013@unknown@formal@none@1@S@Structural steel, which primarily serves the construction market, was especially hurt by a 15% price drop, Mr. Bradford said.@@@@1@19@@oe@2-2-2013
21621014@unknown@formal@none@1@S@The company said its integrated steel sector was also hurt by higher raw material, repair and maintenance, and labor costs.@@@@1@20@@oe@2-2-2013
21621015@unknown@formal@none@1@S@The increased labor costs became effective Aug. 1 under terms of the four-year labor agreement with the United Steelworkers union.@@@@1@20@@oe@2-2-2013
21621016@unknown@formal@none@1@S@Meanwhile, the company's service center segment, which saw operating profit drop to $11.5 million from $30.7 million a year ago, experienced much of the same demand and cost problems, as well as start-up costs associated with a coil processing facility in Chicago and an upgraded computer information system.@@@@1@48@@oe@2-2-2013
21621017@unknown@formal@none@1@S@Inland Chairman Frank W. Luerssen said the company's short-term outlook is "clouded by uncertainties in the economy and financial markets."@@@@1@20@@oe@2-2-2013
21621018@unknown@formal@none@1@S@However, he noted that steel mill bookings are up from early summer levels, and that he expects the company to improve its cost performance in the fourth quarter.@@@@1@28@@oe@2-2-2013
21621019@unknown@formal@none@1@S@In the first nine months, profit was $113 million, or $3.04 a share, on sales of $3.19 billion, compared with $204.5 million, or $5.76 a share, on sales of $3.03 billion, a year earlier.@@@@1@34@@oe@2-2-2013
21622001@unknown@formal@none@1@S@The "seismic" activity of a financial market bears a resemblance to the seismic activity of the earth.@@@@1@17@@oe@2-2-2013
21622002@unknown@formal@none@1@S@When things are quiet (low volatility), the structures on which markets stand can be relatively inefficient and still perform their functions adequately.@@@@1@22@@oe@2-2-2013
21622003@unknown@formal@none@1@S@However, when powerful forces start shaking the market's structure, the more "earthquake-resistant" it is, the better its chance for survival.@@@@1@20@@oe@2-2-2013
21622004@unknown@formal@none@1@S@America's financial markets do not yet have all the required modern features required to make them fully "aftershock-resistant."@@@@1@18@@oe@2-2-2013
21622005@unknown@formal@none@1@S@Investors lack equal access to the markets' trading arena and its information.@@@@1@12@@oe@2-2-2013
21622006@unknown@formal@none@1@S@That structural lack is crucial because investors are the only source of market liquidity.@@@@1@14@@oe@2-2-2013
21622007@unknown@formal@none@1@S@And liquidity is what markets need to damp quakes and aftershocks.@@@@1@11@@oe@2-2-2013
21622008@unknown@formal@none@1@S@In today's markets, specialists (on the New York Stock Exchange) and "upstairs" market makers (in the over-the-counter market) are the only market participants allowed to play a direct role in the price-determination process.@@@@1@33@@oe@2-2-2013
21622009@unknown@formal@none@1@S@When they halt trading, all market liquidity is gone.@@@@1@9@@oe@2-2-2013
21622010@unknown@formal@none@1@S@And when any component of the market -- cash, futures or options -- loses liquidity, the price discovery system (the way prices are determined) becomes flawed or is lost entirely for a time.@@@@1@33@@oe@2-2-2013
21622011@unknown@formal@none@1@S@Last Friday the 13th (as well as two years ago this week) the markets became unlinked.@@@@1@16@@oe@2-2-2013
21622012@unknown@formal@none@1@S@When that happened, "seismic" tremors of fear -- much like the shock waves created by an earthquake -- coursed through the market and increased the market's volatility.@@@@1@27@@oe@2-2-2013
21622013@unknown@formal@none@1@S@Lack of important, needed information can cause fear.@@@@1@8@@oe@2-2-2013
21622014@unknown@formal@none@1@S@Fear is the father of panic.@@@@1@6@@oe@2-2-2013
21622015@unknown@formal@none@1@S@Panic frequently results in irrational behavior.@@@@1@6@@oe@2-2-2013
21622016@unknown@formal@none@1@S@And in financial markets, irrational behavior is sometimes translated into catastrophe.@@@@1@11@@oe@2-2-2013
21622017@unknown@formal@none@1@S@When market tremors start, it is crucial that as much information about transaction prices and the supply-demand curve (buy and sell orders at various prices) be made available to all, not just to market makers.@@@@1@35@@oe@2-2-2013
21622018@unknown@formal@none@1@S@Because of a lack of information and access, many investors -- including the very ones whose buying power could restore stability and damp volatility -- are forced to stand on the sidelines when they are most needed, because of their ignorance of important market information.@@@@1@45@@oe@2-2-2013
21622019@unknown@formal@none@1@S@To add aftershock-damping power to America's markets, a modern, electronic trading system should be implemented that permits equal access to the trading arena (and the information that would automatically accompany such access) by investors -- particularly institutional investors.@@@@1@38@@oe@2-2-2013
21622020@unknown@formal@none@1@S@Contrary to some opinions, the trading activities of specialists and other market makers do not provide liquidity to the market as a whole.@@@@1@23@@oe@2-2-2013
21622021@unknown@formal@none@1@S@What market makers provide is immediacy, a very valuable service.@@@@1@10@@oe@2-2-2013
21622022@unknown@formal@none@1@S@Liquidity is not a service.@@@@1@5@@oe@2-2-2013
21622023@unknown@formal@none@1@S@It is a market attribute -- the ability to absorb selling orders without causing significant price changes in the absence of news.@@@@1@22@@oe@2-2-2013
21622024@unknown@formal@none@1@S@Market makers buy what investors wish to sell; their business is reselling these unwanted positions as quickly as possible to other investors, and at a profit.@@@@1@26@@oe@2-2-2013
21622025@unknown@formal@none@1@S@As a result, while any one customer may purchase immediacy by selling to a market maker (which is micro-liquidity for the investor), the market as a whole remains in the same circumstances it was before the transaction: The unwanted position is still an unwanted position; only the identity of the seller has changed.@@@@1@53@@oe@2-2-2013
21622026@unknown@formal@none@1@S@In fact it can be argued that increasing capital commitments by market makers (a result of some post-1987 crash studies) also increases market volatility, since the more securities are held by market makers at any given time, the more selling pressure is overhanging the market.@@@@1@45@@oe@2-2-2013
21622027@unknown@formal@none@1@S@In an open electronic system, any investor wishing to pay for real-time access to the trading arena through a registered broker-dealer would be able to see the entire supply-demand curve (buy and sell orders at each price) entered by dealers and investors alike, and to enter and execute orders.@@@@1@49@@oe@2-2-2013
21622028@unknown@formal@none@1@S@Current quotations would reflect the combined financial judgment of all market participants -- not just those of intermediaries who become extremely risk-averse during times of crisis.@@@@1@26@@oe@2-2-2013
21622029@unknown@formal@none@1@S@Investors and professionals alike would compete on the level playing field Congress sought and called a "national market system" (not yet achieved) almost 15 years ago when it passed the Securities Reform Act of 1975.@@@@1@35@@oe@2-2-2013
21622030@unknown@formal@none@1@S@Last Friday's market gyrations did not result in severe "aftershocks."@@@@1@10@@oe@2-2-2013
21622031@unknown@formal@none@1@S@Were we smart or just lucky?@@@@1@6@@oe@2-2-2013
21622032@unknown@formal@none@1@S@I'm not certain.@@@@1@3@@oe@2-2-2013
21622033@unknown@formal@none@1@S@But I am sure we need to maximize our "earthquake" protection by making certain that our market structures let investors add their mighty shock-damping power to our nation's markets.@@@@1@29@@oe@2-2-2013
21622034@unknown@formal@none@1@S@Mr. Peake is chairman of his own consulting company in Englewood, N.J.@@@@1@12@@oe@2-2-2013
21623001@unknown@formal@none@1@S@NOW YOU SEE IT, now you don't.@@@@1@7@@oe@2-2-2013
21623002@unknown@formal@none@1@S@The recession, that is.@@@@1@4@@oe@2-2-2013
21623003@unknown@formal@none@1@S@The economy's stutter steps leave investors wondering whether things are slowing down or speeding up.@@@@1@15@@oe@2-2-2013
21623004@unknown@formal@none@1@S@So often are government statistics revised that they seem to resemble a spinning weather vane.@@@@1@15@@oe@2-2-2013
21623005@unknown@formal@none@1@S@For the past seven years, investors have had the wind at their backs, in the form of a generally growing economy.@@@@1@21@@oe@2-2-2013
21623006@unknown@formal@none@1@S@Some may have forgotten -- and some younger ones may never have experienced -- what it's like to invest during a recession.@@@@1@22@@oe@2-2-2013
21623007@unknown@formal@none@1@S@Different tactics are called for, as losing money becomes easier and making money becomes tougher.@@@@1@15@@oe@2-2-2013
21623008@unknown@formal@none@1@S@For those investors who believe -- or fear -- that 1990 will be a recession year, many economists and money managers agree on steps that can be taken to lower the risks in a portfolio.@@@@1@35@@oe@2-2-2013
21623009@unknown@formal@none@1@S@In a nutshell, pros advise investors who expect a slowdown to hold fewer stocks than usual and to favor shares of big companies in "defensive" industries.@@@@1@26@@oe@2-2-2013
21623010@unknown@formal@none@1@S@A heavy dose of cash is prescribed, along with a heavier-than-usual allotment to bonds -- preferably government bonds.@@@@1@18@@oe@2-2-2013
21623011@unknown@formal@none@1@S@It's tempting to think these defensive steps can be delayed until a recession is clearly at hand.@@@@1@17@@oe@2-2-2013
21623012@unknown@formal@none@1@S@But that may not be possible, because recessions often take investors by surprise.@@@@1@13@@oe@2-2-2013
21623013@unknown@formal@none@1@S@"They always seem to come a bit later than you expect.@@@@1@11@@oe@2-2-2013
21623014@unknown@formal@none@1@S@When they do hit, they hit fast," says David A. Wyss, chief financial economist at the Data Resources division of McGraw-Hill Inc.@@@@1@22@@oe@2-2-2013
21623015@unknown@formal@none@1@S@Though he himself doesn't expect a recession soon, Mr. Wyss advises people who do that "the best thing to be in is long that is, 20-year to 30-year Treasury bonds."@@@@1@30@@oe@2-2-2013
21623016@unknown@formal@none@1@S@The reason is simple, Mr. Wyss says: "Interest rates almost always decline during recession."@@@@1@14@@oe@2-2-2013
21623017@unknown@formal@none@1@S@As surely as a seesaw tilts, falling interest rates force up the price of previously issued bonds.@@@@1@17@@oe@2-2-2013
21623018@unknown@formal@none@1@S@They are worth more because they pay higher interest than newly issued bonds do.@@@@1@14@@oe@2-2-2013
21623019@unknown@formal@none@1@S@That effect holds true for both short-term and long-term bonds.@@@@1@10@@oe@2-2-2013
21623020@unknown@formal@none@1@S@But short-term bonds can't rise too much, because everyone knows they will be redeemed at a preset price fairly soon.@@@@1@20@@oe@2-2-2013
21623021@unknown@formal@none@1@S@Long-term bonds, with many years left before maturity, swing more widely in price.@@@@1@13@@oe@2-2-2013
21623022@unknown@formal@none@1@S@But not just any bonds will do.@@@@1@7@@oe@2-2-2013
21623023@unknown@formal@none@1@S@Corporate bonds "are usually not a good bet in a recession," Mr. Wyss says.@@@@1@14@@oe@2-2-2013
21623024@unknown@formal@none@1@S@As times get tougher, investors fret about whether companies will have enough money to pay their debts.@@@@1@17@@oe@2-2-2013
21623025@unknown@formal@none@1@S@This hurts the price of corporate bonds.@@@@1@7@@oe@2-2-2013
21623026@unknown@formal@none@1@S@Also, he notes, "most corporate bonds are callable."@@@@1@8@@oe@2-2-2013
21623027@unknown@formal@none@1@S@That means that a corporation, after a specified amount of time has passed, can buy back its bonds by paying investors the face value (plus, in some cases, a sweetener).@@@@1@30@@oe@2-2-2013
21623028@unknown@formal@none@1@S@When interest rates have dropped, it makes sense for corporations to do just that; they then save on interest costs.@@@@1@20@@oe@2-2-2013
21623029@unknown@formal@none@1@S@But the investors are left stranded with money to reinvest at a time when interest rates are puny.@@@@1@18@@oe@2-2-2013
21623030@unknown@formal@none@1@S@If corporate bonds are bad in recessions, junk bonds are likely to be the worst of all.@@@@1@17@@oe@2-2-2013
21623031@unknown@formal@none@1@S@It's an "absolute necessity" to get out of junk bonds when a recession is in the offing, says Avner Arbel, professor of finance at Cornell University.@@@@1@26@@oe@2-2-2013
21623032@unknown@formal@none@1@S@"Such bonds are very sensitive to the downside, and this could be a disaster."@@@@1@14@@oe@2-2-2013
21623033@unknown@formal@none@1@S@Municipal bonds are generally a bit safer than corporate bonds in a recession, but not as safe as bonds issued by the federal government.@@@@1@24@@oe@2-2-2013
21623034@unknown@formal@none@1@S@During an economic slump, local tax revenues often go down, raising the risks associated with at least some municipals.@@@@1@19@@oe@2-2-2013
21623035@unknown@formal@none@1@S@And, like corporates, many municipal bonds are callable.@@@@1@8@@oe@2-2-2013
21623036@unknown@formal@none@1@S@But a few experts, going against the consensus, don't think bonds would help investors even if a recession is in the offing.@@@@1@22@@oe@2-2-2013
21623037@unknown@formal@none@1@S@One of these is Jeffrey L. Beach, director of research for Underwood Neuhaus & Co., a brokerage house in Houston, who thinks that "we're either in a recession or about to go into one."@@@@1@34@@oe@2-2-2013
21623038@unknown@formal@none@1@S@What's more, he thinks this could be a nastier recession than usual: "Once the downturn comes, it's going to be very hard to reverse."@@@@1@24@@oe@2-2-2013
21623039@unknown@formal@none@1@S@Investors, he advises, "should be cautious," holding fewer stocks than usual and also shunning bonds.@@@@1@15@@oe@2-2-2013
21623040@unknown@formal@none@1@S@Because he sees a "5% to 6% base rate of inflation in the economy," he doubts that interest rates will fall much any time soon.@@@@1@25@@oe@2-2-2013
21623041@unknown@formal@none@1@S@Instead, Mr. Beach says, investors "probably should be carrying a very high level of cash," by which he means such so-called cash equivalents as money-market funds and Treasury bills.@@@@1@29@@oe@2-2-2013
21623042@unknown@formal@none@1@S@Greg Confair, president of Sigma Financial Inc. in Allentown, Pa., also recommends that investors go heavily for cash.@@@@1@18@@oe@2-2-2013
21623043@unknown@formal@none@1@S@He isn't sure a recession is coming, but says the other likely alternative -- reignited inflation -- is just as bad.@@@@1@21@@oe@2-2-2013
21623044@unknown@formal@none@1@S@"This late in an expansion," the economy tends to veer off either into damaging inflation or into a recession, Mr. Confair says.@@@@1@22@@oe@2-2-2013
21623045@unknown@formal@none@1@S@The Federal Reserve Board's plan for a "soft landing," he says, requires the Fed to navigate "an ever-narrowing corridor."@@@@1@19@@oe@2-2-2013
21623046@unknown@formal@none@1@S@A soft landing isn't something that can be achieved once and for all, Mr. Confair adds.@@@@1@16@@oe@2-2-2013
21623047@unknown@formal@none@1@S@It has to be engineered over and over again, month after month.@@@@1@12@@oe@2-2-2013
21623048@unknown@formal@none@1@S@He believes that the task facing Fed Chairman Alan Greenspan is so difficult that it resembles "juggling a double-bladed ax and a buzz saw."@@@@1@24@@oe@2-2-2013
21623049@unknown@formal@none@1@S@And, in a sense, that's the kind of task individuals face in deciding what to do about stocks -- the mainstay of most serious investors' portfolios.@@@@1@26@@oe@2-2-2013
21623050@unknown@formal@none@1@S@It comes down to a question of whether to try to "time" the market.@@@@1@14@@oe@2-2-2013
21623051@unknown@formal@none@1@S@For people who can ride out market waves through good times and bad, stocks have been rewarding long-term investments.@@@@1@19@@oe@2-2-2013
21623052@unknown@formal@none@1@S@Most studies show that buy-and-hold investors historically have earned an annual return from stocks of 9% to 10%, including both dividends and price appreciation.@@@@1@24@@oe@2-2-2013
21623053@unknown@formal@none@1@S@That's well above what bonds or bank certificates have paid.@@@@1@10@@oe@2-2-2013
21623054@unknown@formal@none@1@S@Moreover, because no one knows for sure just when a recession is coming, some analysts think investors shouldn't even worry too much about timing.@@@@1@24@@oe@2-2-2013
21623055@unknown@formal@none@1@S@"Trying to time the economy is a mistake," says David Katz, chief investment officer of Value Matrix Management Inc. in New York.@@@@1@22@@oe@2-2-2013
21623056@unknown@formal@none@1@S@Mr. Katz notes that some economists have been predicting a recession for at least two years.@@@@1@16@@oe@2-2-2013
21623057@unknown@formal@none@1@S@Investors who listened, and lightened up on stocks, "have just hurt themselves," he says.@@@@1@14@@oe@2-2-2013
21623058@unknown@formal@none@1@S@Mr. Katz adds that people who jump in and out of the stock market need to be right about 70% of the time to beat a buy-and-hold strategy.@@@@1@28@@oe@2-2-2013
21623059@unknown@formal@none@1@S@Frequent trading runs up high commission costs.@@@@1@7@@oe@2-2-2013
21623060@unknown@formal@none@1@S@And the in-and-outer might miss the sudden spurts that account for much of the stock market's gains over time.@@@@1@19@@oe@2-2-2013
21623061@unknown@formal@none@1@S@Still, few investors are able to sit tight when they are convinced a recession is coming.@@@@1@16@@oe@2-2-2013
21623062@unknown@formal@none@1@S@After all, in all five recessions since 1960, stocks declined.@@@@1@10@@oe@2-2-2013
21623063@unknown@formal@none@1@S@According to Ned Davis, president of Ned Davis Research Inc. in Nokomis, Fla., the average drop in the Dow Jones Industrial Average was about 21%, and the decrease began an average of six months before a recession officially started.@@@@1@39@@oe@2-2-2013
21623064@unknown@formal@none@1@S@By the time a recession is "official" (two consecutive quarters of declining gross national product), much of the damage to stocks has already been done-and, in the typical case, the recession is already half over.@@@@1@35@@oe@2-2-2013
21623065@unknown@formal@none@1@S@About six months before a recession ends, stocks typically begin to rise again, as investors anticipate a recovery.@@@@1@18@@oe@2-2-2013
21623066@unknown@formal@none@1@S@The average recession lasts about a year.@@@@1@7@@oe@2-2-2013
21623067@unknown@formal@none@1@S@Unfortunately, though, recessions vary enough in length so that the average can't reliably be used to guide investors in timing stock sales or purchases.@@@@1@24@@oe@2-2-2013
21623068@unknown@formal@none@1@S@But whatever their advice about timing, none of these experts recommend jettisoning stocks entirely during a recession.@@@@1@17@@oe@2-2-2013
21623069@unknown@formal@none@1@S@For the portion of an investor's portfolio that stays in stocks, professionals have a number of suggestions.@@@@1@17@@oe@2-2-2013
21623070@unknown@formal@none@1@S@Mr. Katz advocates issues with low price-earnings ratios -- that is, low prices in relation to the company's earnings per share.@@@@1@21@@oe@2-2-2013
21623071@unknown@formal@none@1@S@"Low P-E" stocks, he says, vastly outperform others "during a recession or bear market."@@@@1@14@@oe@2-2-2013
21623072@unknown@formal@none@1@S@In good times, he says, they lag a bit, but overall they provide superior performance.@@@@1@15@@oe@2-2-2013
21623073@unknown@formal@none@1@S@Prof. Arbel urges investors to discard stocks in small companies.@@@@1@10@@oe@2-2-2013
21623074@unknown@formal@none@1@S@Small-company shares typically fall more than big-company stocks in a recession, he says.@@@@1@13@@oe@2-2-2013
21623075@unknown@formal@none@1@S@And in any case, he argues, stocks of small companies are "almost as overpriced as they were Sept. 30, 1987, just before the crash."@@@@1@24@@oe@2-2-2013
21623076@unknown@formal@none@1@S@For example, Mr. Arbel says, stocks of small companies are selling for about 19 times cash flow.@@@@1@17@@oe@2-2-2013
21623077@unknown@formal@none@1@S@(Cash flow, basically earnings plus depreciation, is one common gauge of a company's financial health.)@@@@1@15@@oe@2-2-2013
21623078@unknown@formal@none@1@S@That ratio is dangerously close to the ratio of 19.7 that prevailed before the 1987 stock-market crash, Mr. Arbel says.@@@@1@20@@oe@2-2-2013
21623079@unknown@formal@none@1@S@And it's way above the ratio (7.5 times cash flow) that bigger companies are selling for.@@@@1@16@@oe@2-2-2013
21623080@unknown@formal@none@1@S@Another major trick in making a portfolio recession-resistant is choosing stocks in "defensive" industries.@@@@1@14@@oe@2-2-2013
21623081@unknown@formal@none@1@S@Food, tobacco, drugs and utilities are the classic examples.@@@@1@9@@oe@2-2-2013
21623082@unknown@formal@none@1@S@Recession or not, people still eat, smoke, and take medicine when they're sick.@@@@1@13@@oe@2-2-2013
21623083@unknown@formal@none@1@S@George Putnam III, editor of Turnaround Letter in Boston, offers one final tip for recession-wary investors.@@@@1@16@@oe@2-2-2013
21623084@unknown@formal@none@1@S@"Keep some money available for opportunities," he says.@@@@1@8@@oe@2-2-2013
21623085@unknown@formal@none@1@S@"If the recession does hit, there will be some great investment opportunities just when things seem the blackest."@@@@1@18@@oe@2-2-2013
21623086@unknown@formal@none@1@S@Mr. Dorfman covers investing issues from The Wall Street Journal's New York bureau.@@@@1@13@@oe@2-2-2013
21623087@unknown@formal@none@1@S@Some industry groups consistently weather the storm better than others.@@@@1@10@@oe@2-2-2013
21623088@unknown@formal@none@1@S@The following shows the number of times these industries outperformed the Standard & Poor's 500-Stock Index during the first six months of the past seven recessions.@@@@1@26@@oe@2-2-2013
21624001@unknown@formal@none@1@S@Bond prices posted strong gains as investors went on a bargain hunt.@@@@1@12@@oe@2-2-2013
21624002@unknown@formal@none@1@S@But while the overall market improved, the new-issue junk-bond market continued to count casualties, even as junk-bond prices rose.@@@@1@19@@oe@2-2-2013
21624003@unknown@formal@none@1@S@Yesterday, Prudential-Bache Securities Inc. said it postponed a $220 million senior subordinated debenture offering by York International Corp.@@@@1@18@@oe@2-2-2013
21624004@unknown@formal@none@1@S@And Donaldson, Lufkin & Jenrette Securities Corp. scrambled to restructure and improve the potential returns on a $475 million debenture offering by Chicago & North Western Acquisition Corp. that was still being negotiated late last night.@@@@1@36@@oe@2-2-2013
21624005@unknown@formal@none@1@S@The issue by Chicago & North Western is one of the so-called good junk-bond offerings on the new-issue calendar.@@@@1@19@@oe@2-2-2013
21624006@unknown@formal@none@1@S@Some analysts said the restructuring of the railroad concern's issue shows how tough it is for underwriters to sell even the junk bonds of a company considered to be a relatively good credit risk.@@@@1@34@@oe@2-2-2013
21624007@unknown@formal@none@1@S@Since last week's junk-bond market debacle, many new issues of high-yield, high-risk corporate bonds have either been scaled back, delayed or dropped.@@@@1@22@@oe@2-2-2013
21624008@unknown@formal@none@1@S@On Wednesday, Drexel Burnham Lambert Inc. had to slash the size of Continental Airlines' junk-bond offering to $71 million from $150 million.@@@@1@22@@oe@2-2-2013
21624009@unknown@formal@none@1@S@Salomon Brothers Inc. has delayed Grand Union Co.'s $1.16 billion junk-bond offering while it restructures the transaction.@@@@1@17@@oe@2-2-2013
21624010@unknown@formal@none@1@S@Last week, the Grand Union offering was sweetened to include warrants that allow bondholders to acquire common stock.@@@@1@18@@oe@2-2-2013
21624011@unknown@formal@none@1@S@Prudential-Bache said the York issue was delayed because of market conditions.@@@@1@11@@oe@2-2-2013
21624012@unknown@formal@none@1@S@"Everything is going through firehoops right now, and {Chicago & North Western} is no exception," said Mariel Clemensen, vice president, high-yield research, at Citicorp.@@@@1@24@@oe@2-2-2013
21624013@unknown@formal@none@1@S@Portfolio managers say sweeteners like equity kickers and stricter protective covenants may increasingly be required to sell junk-bond deals.@@@@1@19@@oe@2-2-2013
21624014@unknown@formal@none@1@S@Dan Baldwin, managing director of high-yield investments at Chancellor Capital Management, said the Chicago & North Western offering was restructured in part because "several large insurance buyers right now are demanding equity as part of the package.@@@@1@37@@oe@2-2-2013
21624015@unknown@formal@none@1@S@If you're going to take the risk in this market, you want something extra."@@@@1@14@@oe@2-2-2013
21624016@unknown@formal@none@1@S@Mr. Baldwin likes the offering.@@@@1@5@@oe@2-2-2013
21624017@unknown@formal@none@1@S@But several mutual-fund managers, nervous about the deteriorating quality of their junk-bond portfolios and shy about buying new issues, said they're staying away from any junk security that isn't considered first rate for its class.@@@@1@35@@oe@2-2-2013
21624018@unknown@formal@none@1@S@While they consider the Chicago & North Western issue to be good, they don't view it as the best.@@@@1@19@@oe@2-2-2013
21624019@unknown@formal@none@1@S@To lure buyers to the Chicago & North Western bonds, portfolio managers said Donaldson Lufkin sweetened the transaction by offering the bonds with a resettable interest rate and a 10% equity kicker.@@@@1@32@@oe@2-2-2013
21624020@unknown@formal@none@1@S@The bonds are expected to have a 14 1/2% coupon rate.@@@@1@11@@oe@2-2-2013
21624021@unknown@formal@none@1@S@The equity arrangement apparently would allow bondholders to buy a total of 10% of the stock of CNW Corp., Chicago & North Western's parent company.@@@@1@25@@oe@2-2-2013
21624022@unknown@formal@none@1@S@Donaldson Lufkin declined to comment on the restructuring.@@@@1@8@@oe@2-2-2013
21624023@unknown@formal@none@1@S@According to some analysts familiar with the negotiations, the 10% of equity would come directly from Donaldson Lufkin and a fund affiliated with the investment bank Blackstone Group, which would reduce their CNW equity holdings by 5% each.@@@@1@38@@oe@2-2-2013
21624024@unknown@formal@none@1@S@That would leave the Blackstone fund with a 60% stake and Donaldson Lufkin with 15%.@@@@1@15@@oe@2-2-2013
21624025@unknown@formal@none@1@S@Despite the problems with new issues, high-yield bonds showed gains in the secondary, or resell, market.@@@@1@16@@oe@2-2-2013
21624026@unknown@formal@none@1@S@Junk bonds ended about one-half point higher with so-called high-quality issues from RJR Capital Holdings Corp. and Petrolane Gas Service Limited Partnership rising one point.@@@@1@25@@oe@2-2-2013
21624027@unknown@formal@none@1@S@In the Treasury market, the benchmark 30-year bond rose seven-eighths point, or $8.75 for each $1,000 face amount.@@@@1@18@@oe@2-2-2013
21624028@unknown@formal@none@1@S@The gain reflects fresh economic evidence that inflation is moderating while the economy slows.@@@@1@14@@oe@2-2-2013
21624029@unknown@formal@none@1@S@That raised hopes that interest rates will continue to move lower.@@@@1@11@@oe@2-2-2013
21624030@unknown@formal@none@1@S@The Labor Department reported that consumer prices rose just 0.2% last month, slightly lower than some economists had expected.@@@@1@19@@oe@2-2-2013
21624031@unknown@formal@none@1@S@But there were also rumors yesterday that several Japanese institutional investors were shifting their portfolios and buying long-term bonds while selling shorter-term Treasurys.@@@@1@23@@oe@2-2-2013
21624032@unknown@formal@none@1@S@Short-term Treasury securities ended narrowly mixed, with two-year notes posting slight declines while three-year notes were slightly higher.@@@@1@18@@oe@2-2-2013
21624033@unknown@formal@none@1@S@Yesterday, the Fed executed four-day matched sales, a technical trading operation designed to drain reserves from the banking system.@@@@1@19@@oe@2-2-2013
21624034@unknown@formal@none@1@S@The move was interpreted by some economists as a sign that the Fed doesn't want the federal funds rate to move any lower than the 8 3/4% at which it has been hovering around during the past week.@@@@1@38@@oe@2-2-2013
21624035@unknown@formal@none@1@S@The closely watched funds rate is what banks charge each other on overnight loans.@@@@1@14@@oe@2-2-2013
21624036@unknown@formal@none@1@S@It is considered an early signal of Fed credit policy changes.@@@@1@11@@oe@2-2-2013
21624037@unknown@formal@none@1@S@"The fact that they did four-day matched sales means they are not in a mood to ease aggressively.@@@@1@18@@oe@2-2-2013
21624038@unknown@formal@none@1@S@They are telling us that {8 3/4%} is as low as they want to see the fed funds rate," said Robert Chandross at Lloyds Bank PLC.@@@@1@26@@oe@2-2-2013
21624039@unknown@formal@none@1@S@Treasury Securities@@@@1@2@@oe@2-2-2013
21624040@unknown@formal@none@1@S@The benchmark 30-year bond was quoted late at a price of 101 25/32 to yield 7.955%, compared with 100 29/32 to yield 8.032% Wednesday.@@@@1@24@@oe@2-2-2013
21624041@unknown@formal@none@1@S@The latest 10-year notes were quoted late at 100 9/32 to yield 7.937%, compared with 99 26/32 to yield 8.007%.@@@@1@20@@oe@2-2-2013
21624042@unknown@formal@none@1@S@Short-term rates rose yesterday.@@@@1@4@@oe@2-2-2013
21624043@unknown@formal@none@1@S@The discount rate on three-month Treasury bills rose to 7.56% from 7.51% Wednesday, while the rate on six-month bills rose to 7.57% from 7.53%.@@@@1@24@@oe@2-2-2013
21624044@unknown@formal@none@1@S@Meanwhile, the Treasury sold $9.75 billion of 52-week bills yesterday.@@@@1@10@@oe@2-2-2013
21624045@unknown@formal@none@1@S@The average yield on the bills was 7.35%, down from 7.61% at the previous 52-week bill auction Sept. 21.@@@@1@19@@oe@2-2-2013
21624046@unknown@formal@none@1@S@Yesterday's yield was the lowest since 7.22% on July 27.@@@@1@10@@oe@2-2-2013
21624047@unknown@formal@none@1@S@Here are details of the auction:@@@@1@6@@oe@2-2-2013
21624048@unknown@formal@none@1@S@Rates are determined by the difference between the purchase price and face value.@@@@1@13@@oe@2-2-2013
21624049@unknown@formal@none@1@S@Thus, higher bidding narrows the investor's return while lower bidding widens it.@@@@1@12@@oe@2-2-2013
21624050@unknown@formal@none@1@S@The percentage rates are calculated on a 360-day year, while the coupon-equivalent yield is based on a 365-day year.@@@@1@19@@oe@2-2-2013
21624051@unknown@formal@none@1@S@Corporate Issues@@@@1@2@@oe@2-2-2013
21624052@unknown@formal@none@1@S@Junk bond price climbed yesterday despite skittishness in the new-issue market for high-yield securities.@@@@1@14@@oe@2-2-2013
21624053@unknown@formal@none@1@S@Dealers said junk bond issues on average were up by 1/4 to 1/2 point with so-called quality issues from RJR Capital Holdings Corp. and Petrolane Gas Service Limited Partnership posting one-point gains.@@@@1@32@@oe@2-2-2013
21624054@unknown@formal@none@1@S@Petrolane Gas Service's 13 1/4% debentures traded at 102, after trading around par earlier this week, and RJR's 13 1/2% subordinated debentures of 2001 were at 101 5/8 after trading at below par earlier this week.@@@@1@36@@oe@2-2-2013
21624055@unknown@formal@none@1@S@Investment-grade bonds were unchanged.@@@@1@4@@oe@2-2-2013
21624056@unknown@formal@none@1@S@Municipals@@@@1@1@@oe@2-2-2013
21624057@unknown@formal@none@1@S@Activity was brisk in the high-grade general obligation market, as a series of sell lists hit the Street and capped upward price movement in the sector.@@@@1@26@@oe@2-2-2013
21624058@unknown@formal@none@1@S@Traders estimated that more than $140 million of high-grade bonds was put up for sale via bid-wanted lists circulated by a handful of major brokers.@@@@1@25@@oe@2-2-2013
21624059@unknown@formal@none@1@S@There was speculation that the supply was coming from a commercial bank's portfolios.@@@@1@13@@oe@2-2-2013
21624060@unknown@formal@none@1@S@According to market participants, the bonds were met with decent bids, but the volume of paper left high grades in the 10-year and under maturity range unchanged to 0.05 percentage point higher in yield.@@@@1@34@@oe@2-2-2013
21624061@unknown@formal@none@1@S@Away from the general obligation sector, activity was modest.@@@@1@9@@oe@2-2-2013
21624062@unknown@formal@none@1@S@Long dollar bonds were flat to up 3/8 point.@@@@1@9@@oe@2-2-2013
21624063@unknown@formal@none@1@S@New Jersey Turnpike Authority's 7.20% issue of 2018 was up 3/8 at 98 3/8 bid to yield about 7.32%, down 0.03 percentage point.@@@@1@23@@oe@2-2-2013
21624064@unknown@formal@none@1@S@The debt of some California issuers pulled off lows reached after Tuesday's massive earthquake, although traders said market participants remained cautious.@@@@1@21@@oe@2-2-2013
21624065@unknown@formal@none@1@S@California expects to rely on federal emergency funds and its $1.06 billion in general fund reserves to meet the estimated $500 million to $1 billion in damages resulting from the quake, according to a state official.@@@@1@36@@oe@2-2-2013
21624066@unknown@formal@none@1@S@It's also unclear precisely how the state will rebuild its reserve, said Cindy Katz, assistant director of California's department of finance, although she noted that a bond offering for that purpose isn't anticipated.@@@@1@33@@oe@2-2-2013
21624067@unknown@formal@none@1@S@Meanwhile, new issuance was slow.@@@@1@5@@oe@2-2-2013
21624068@unknown@formal@none@1@S@The largest sale in the competitive arena was a $55.7 million issue of school financing bonds from the Virginia Public School Authority.@@@@1@22@@oe@2-2-2013
21624069@unknown@formal@none@1@S@A balance of $25.8 million remained in late order-taking, according to the lead manager.@@@@1@14@@oe@2-2-2013
21624070@unknown@formal@none@1@S@Mortgage-Backed Securities@@@@1@2@@oe@2-2-2013
21624071@unknown@formal@none@1@S@Mortgage securities generally ended 6/32 to 9/32 point higher, but lagged gains in the Treasury market because of a shift in the shape of the Treasury yield curve and rumored mortgage sales by thrifts.@@@@1@34@@oe@2-2-2013
21624072@unknown@formal@none@1@S@Premium Government National Mortgage Association securities with coupon rates of 13% and higher actually declined amid concerns about increased prepayments because of a plan being considered by Congress to speed the refinancing of government-subsidized mortgages.@@@@1@35@@oe@2-2-2013
21624073@unknown@formal@none@1@S@Ginnie Mae 13% securities were down about 1/4 at 109 30/32.@@@@1@11@@oe@2-2-2013
21624074@unknown@formal@none@1@S@If the refinancing plan clears Congress, there could be fairly heavy prepayments on the premium securities, hurting any investor paying much above par for them.@@@@1@25@@oe@2-2-2013
21624075@unknown@formal@none@1@S@In the current-coupon sector, a shift in the Treasury yield curve resulting from the better performance of long-dated issues over short-dated securities hurt major coupons because it will become more difficult to structure new derivative securities offerings.@@@@1@37@@oe@2-2-2013
21624076@unknown@formal@none@1@S@Ginnie Mae 9% securities ended at 98 6/32, up 9/32, and Federal Home Loan Mortgage Corp. 9% securities were at 97 10/32, up 6/32.@@@@1@24@@oe@2-2-2013
21624077@unknown@formal@none@1@S@The Ginnie Mae 9% issue was yielding 9.42% to a 12-year average life assumption, as the spread above the Treasury 10-year note widened 0.03 percentage point to 1.48.@@@@1@28@@oe@2-2-2013
21624078@unknown@formal@none@1@S@While Remic issuance may slow in the coming days because of the shift in the Treasury yield curve, underwriters continued to crank out new real estate mortgage investment conduits structured when the yield curve was more favorable.@@@@1@37@@oe@2-2-2013
21624079@unknown@formal@none@1@S@Two new Remics totaling $900 million were announced by Freddie Mac yesterday.@@@@1@12@@oe@2-2-2013
21624080@unknown@formal@none@1@S@Foreign Bonds@@@@1@2@@oe@2-2-2013
21624081@unknown@formal@none@1@S@British government bonds ended little changed as investors awaited an economic policy address last night by Chancellor of the Exchequer Nigel Lawson.@@@@1@22@@oe@2-2-2013
21624082@unknown@formal@none@1@S@The Treasury 11 3/4% bond due 2003/2007 was down 2/32 at 111 29/32 to yield 10.09%, while the 11 3/4% notes due 1991 were unchanged at 98 19/32 to yield 12.94%.@@@@1@31@@oe@2-2-2013
21624083@unknown@formal@none@1@S@In Japan, the bellwether No. 111 4.6% bond of 1998 ended off 0.03 at 95.72, to yield 5.32%, and in West Germany, the 7% benchmark issue due October 1999 ended 0.05 point lower at 99.85 to yield 7.02%.@@@@1@38@@oe@2-2-2013
21625001@unknown@formal@none@1@S@THE PANHANDLER approaches, makes his pitch.@@@@1@6@@oe@2-2-2013
21625002@unknown@formal@none@1@S@It may be straightforward -- he wants money for food -- or incredibly convoluted; his sister is at this very moment near death in Hoboken, he has lost his wallet and has only $1.22 in change to put toward a bus ticket costing $3.83, and won't you give him the difference?@@@@1@51@@oe@2-2-2013
21625003@unknown@formal@none@1@S@No?@@@@1@1@@oe@2-2-2013
21625004@unknown@formal@none@1@S@Well, how about a loan, he'll take your name and address . . .@@@@1@14@@oe@2-2-2013
21625005@unknown@formal@none@1@S@Figuring that their money would more likely go toward a bottle of Night Train Express, most people have little trouble saying no to propositions like this.@@@@1@26@@oe@2-2-2013
21625006@unknown@formal@none@1@S@But healthy skepticism vanishes when they are solicited by an organized charity to help fight cancer, famine, child abuse, or what have you.@@@@1@23@@oe@2-2-2013
21625007@unknown@formal@none@1@S@Most see little reason to doubt that their cash will go toward these noble goals.@@@@1@15@@oe@2-2-2013
21625008@unknown@formal@none@1@S@But will it?@@@@1@3@@oe@2-2-2013
21625009@unknown@formal@none@1@S@In a distressing number of cases, no.@@@@1@7@@oe@2-2-2013
21625010@unknown@formal@none@1@S@In fact, the donors sometimes might be better off giving the money to the panhandler: at least he has no overhead, and he might even be telling the truth.@@@@1@29@@oe@2-2-2013
21625011@unknown@formal@none@1@S@Last year, more than $100 billion was donated to the nation's 400,000 charities.@@@@1@13@@oe@2-2-2013
21625012@unknown@formal@none@1@S@While the vast bulk of it was indeed spent by reputable organizations on the good works it was raised for, it's equally true that a sizable hunk was consumed in "expenses" claimed by other operators, including fraudulent expenses.@@@@1@38@@oe@2-2-2013
21625013@unknown@formal@none@1@S@In many cases the costs claimed were so high that only a dribble of cash was left for the purported beneficiaries.@@@@1@21@@oe@2-2-2013
21625014@unknown@formal@none@1@S@It's impossible to say exactly how much of the total charity intake is devoured by stratospheric fund-raising costs, high-living operators, and downright fraud.@@@@1@23@@oe@2-2-2013
21625015@unknown@formal@none@1@S@But the problem clearly is widespread and persistent.@@@@1@8@@oe@2-2-2013
21625016@unknown@formal@none@1@S@State law enforcers can barely keep up with charity scams, and reports from watchdog groups such as the Council of Better Business Bureaus are not encouraging.@@@@1@26@@oe@2-2-2013
21625017@unknown@formal@none@1@S@The Philanthropic Advisory Service of the BBB reviews hundreds of new charities every year, measuring them against minimum standards for accountability; for accuracy and honesty in solicitation; and for percentage of funds actually going to work for which the charity was supposedly established.@@@@1@43@@oe@2-2-2013
21625018@unknown@formal@none@1@S@The Service figures at least half of the money taken in should be spent on program.@@@@1@16@@oe@2-2-2013
21625019@unknown@formal@none@1@S@Roughly a third of the charities reviewed flunk the test.@@@@1@10@@oe@2-2-2013
21625020@unknown@formal@none@1@S@Which, it should be added, doesn't prevent the charities from raking in a lot of money anyway.@@@@1@17@@oe@2-2-2013
21625021@unknown@formal@none@1@S@Without a microscope and a subpoena, it's often hard to sort out worthwhile causes from ripoffs if all you've got to go on is the solicitation itself.@@@@1@27@@oe@2-2-2013
21625022@unknown@formal@none@1@S@On this basis, "there's no way the average person can know a good charity from a bad one," says David Ormstedt, an assistant attorney general in Connecticut.@@@@1@27@@oe@2-2-2013
21625023@unknown@formal@none@1@S@"A lot of donors just get taken."@@@@1@7@@oe@2-2-2013
21625024@unknown@formal@none@1@S@Including those, he contends, who put about $1 million into the kitty for the Connecticut Association of Concerned Veterans and the Vietnam Veterans Service Center.@@@@1@25@@oe@2-2-2013
21625025@unknown@formal@none@1@S@The state has sued these charities in state court, complaining that much of the money was grossly misspent; 82%, says Mr. Ormstedt, went to fund raisers and most of the rest to the people who ran the charities and to their relatives -- for fur coats, trips to Florida, Lucullan restaurant tabs.@@@@1@52@@oe@2-2-2013
21625026@unknown@formal@none@1@S@The telephone number for the charity in Shelton, Conn., has been disconnected, and the former officials couldn't be located.@@@@1@19@@oe@2-2-2013
21625027@unknown@formal@none@1@S@Running a charity does cost money, but reputable organizations manage to get the lion's share of donations out to where they are really needed.@@@@1@24@@oe@2-2-2013
21625028@unknown@formal@none@1@S@The Arthritis Foundation, the American Cancer Society and the United Way of America all say that they spend roughly 90% of their income on programs, not overhead.@@@@1@27@@oe@2-2-2013
21625029@unknown@formal@none@1@S@With some other charities, however, its the other way around.@@@@1@10@@oe@2-2-2013
21625030@unknown@formal@none@1@S@The fledgling National Children's Cancer Society, for example, took in $2.5 million last year to finance bone-marrow transplants for children.@@@@1@20@@oe@2-2-2013
21625031@unknown@formal@none@1@S@By the time it paid its expenses it only had $120,000 left -- not enough to treat even one child.@@@@1@20@@oe@2-2-2013
21625032@unknown@formal@none@1@S@The state of Illinois is suing the charity for fraud in Chicago, along with Telesystems Marketing Inc., its Houston-based fund raiser.@@@@1@21@@oe@2-2-2013
21625033@unknown@formal@none@1@S@Both deny wrongdoing.@@@@1@3@@oe@2-2-2013
21625034@unknown@formal@none@1@S@The charity admits spending a lot on fund raising, but says that was necessary to establish a donor base it can tap at much lower cost in years to come.@@@@1@30@@oe@2-2-2013
21625035@unknown@formal@none@1@S@Michael Burns, president of Telesystems, says his concern has only benefited from the publicity surrounding the case, noting that three other charities have signed on as clients because they were impressed with the amount he raised for National Children's.@@@@1@39@@oe@2-2-2013
21625036@unknown@formal@none@1@S@Meanwhile, a state court judge has allowed the charity to go on soliciting funds.@@@@1@14@@oe@2-2-2013
21625037@unknown@formal@none@1@S@Enforcers can't put charities out of business simply because they spend the lion's share of their income on fund raising.@@@@1@20@@oe@2-2-2013
21625038@unknown@formal@none@1@S@State laws previously used as a yardstick minimum percentages of income -- usually half -- that had to be spent on the program rather than overhead, but these have been overturned by the U.S. Supreme Court.@@@@1@36@@oe@2-2-2013
21625039@unknown@formal@none@1@S@It has ruled that such laws might work to stifle fund raising, which would amount to limiting the charities' first-amendment right to freedom of expression.@@@@1@25@@oe@2-2-2013
21625040@unknown@formal@none@1@S@This puts upon enforcers the burden of proving outright fraud or misrepresentation, and such actions have been brought against hundreds of charities recently.@@@@1@23@@oe@2-2-2013
21625041@unknown@formal@none@1@S@The attorney general's office in Connecticut alone has put seven of them out of business over the past couple of years, and the enforcement drive is continuing there and elsewhere.@@@@1@30@@oe@2-2-2013
21625042@unknown@formal@none@1@S@In making cases, the authorities frequently zero in on alleged misrepresentations made by the charities' fund raisers.@@@@1@17@@oe@2-2-2013
21625043@unknown@formal@none@1@S@Illinois, for instance, currently has under investigation 10 of the 30 companies drumming up funds for charities soliciting there.@@@@1@19@@oe@2-2-2013
21625044@unknown@formal@none@1@S@Enforcers pay special attention to operators using sweepstakes prizes as an additional inducement to give.@@@@1@15@@oe@2-2-2013
21625045@unknown@formal@none@1@S@Attorneys general in several states, including Illinois, are already suing Watson & Hughey Co., an Alexandria, Va.-based outfit that they say has used deceptive sweepstakes ads to solicit donations for the American Heart Disease Foundation and the Cancer Fund of America.@@@@1@41@@oe@2-2-2013
21625046@unknown@formal@none@1@S@According to the Illinois attorney general's suit, Watson & Hughey sent mailings indicating that recipients were guaranteed cash prizes, and could win up to an additional $1,000 on top of them, if they contributed as little as $7.@@@@1@38@@oe@2-2-2013
21625047@unknown@formal@none@1@S@But the total value of the prizes was only $5,000 and most "winners" will receive just 10 cents, according to the attorney general's office.@@@@1@24@@oe@2-2-2013
21625048@unknown@formal@none@1@S@The suit is still pending in Illinois state court.@@@@1@9@@oe@2-2-2013
21625049@unknown@formal@none@1@S@Watson & Hughey has denied the allegations in court; officials decline to comment further.@@@@1@14@@oe@2-2-2013
21625050@unknown@formal@none@1@S@While they can target some of the most obvious miscreants, enforcers concede that they are only scratching the surface.@@@@1@19@@oe@2-2-2013
21625051@unknown@formal@none@1@S@There are so many cunning ploys used by so many dubious operators, they say, that it is probably impossible to stop them all.@@@@1@23@@oe@2-2-2013
21625052@unknown@formal@none@1@S@One maneuver: the "public education" gambit.@@@@1@6@@oe@2-2-2013
21625053@unknown@formal@none@1@S@The solicitation material indicates that donations will go toward a campaign alerting and informing the public about some health or other issue.@@@@1@22@@oe@2-2-2013
21625054@unknown@formal@none@1@S@What it doesn't say is that the entire "campaign" may be the fund-raising letter itself.@@@@1@15@@oe@2-2-2013
21625055@unknown@formal@none@1@S@"All too often this will merely be a statement on the solicitation such as, `Don't smoke!' or `Wear suntan lotion,' " says William Webster, attorney general of Missouri.@@@@1@28@@oe@2-2-2013
21625056@unknown@formal@none@1@S@"By putting these pithy statements on the solicitations, hundreds of thousands of dollars are claimed to have been spent on education to consumers when in fact this represents the costs of sending the newsletters."@@@@1@34@@oe@2-2-2013
21625057@unknown@formal@none@1@S@Mr. Webster cites a four-page mailing from the United Cancer Council that offers a chance to win $5,000 in gold bullion to those giving as little as $5 to cancer education.@@@@1@31@@oe@2-2-2013
21625058@unknown@formal@none@1@S@"A few boilerplate warnings about cancer appear but that's only two inches in all four pages.@@@@1@16@@oe@2-2-2013
21625059@unknown@formal@none@1@S@I think some people may believe they're helping fund a massive TV and print campaign, but we couldn't find that the charity does anything except write these letters," he says.@@@@1@30@@oe@2-2-2013
21625060@unknown@formal@none@1@S@Officials at the Washington D.C.-based charity didn't return repeated phone calls.@@@@1@11@@oe@2-2-2013
21625061@unknown@formal@none@1@S@Many fly-by-night charities ride the coattails of the biggest, best-known and most reputable ones by adopting names similar to theirs.@@@@1@20@@oe@2-2-2013
21625062@unknown@formal@none@1@S@The established charities are bothered by this but say they can do little about it.@@@@1@15@@oe@2-2-2013
21625063@unknown@formal@none@1@S@"We can't police the many organizations that have sprung up in the last few years using part of our name.@@@@1@20@@oe@2-2-2013
21625064@unknown@formal@none@1@S@Most of them don't last for long, but in the meantime all we can do is tell people they aren't connected with us," says a spokeswoman for the American Heart Association.@@@@1@31@@oe@2-2-2013
21625065@unknown@formal@none@1@S@And sometimes a reputable charity with a household name gets used and doesn't even know it.@@@@1@16@@oe@2-2-2013
21625066@unknown@formal@none@1@S@A couple in Rockford, Ill., raised $12,591 earlier this year using the name and logo of Mothers Against Drunk Driving, without permission from the group.@@@@1@25@@oe@2-2-2013
21625067@unknown@formal@none@1@S@MADD didn't learn of the fund raising until the couple sent it a check for $613, along with a letter saying that was the charity's "share."@@@@1@26@@oe@2-2-2013
21625068@unknown@formal@none@1@S@The Illinois Attorney General won a court order to prevent the couple from raising further funds without MADD's permission.@@@@1@19@@oe@2-2-2013
21625069@unknown@formal@none@1@S@The couple couldn't be reached for comment and apparently have left Rockford, law enforcement officials report.@@@@1@16@@oe@2-2-2013
21625070@unknown@formal@none@1@S@Denise McDonald, a spokeswoman for MADD, says, "It's scary, because anybody could do this."@@@@1@14@@oe@2-2-2013
21625071@unknown@formal@none@1@S@Mr. Johnson is a staff reporter in The Wall Street Journal's Chicago bureau.@@@@1@13@@oe@2-2-2013
21625072@unknown@formal@none@1@S@Overhead costs at some of the largest charities, in millions of dollars@@@@1@12@@oe@2-2-2013
21626001@unknown@formal@none@1@S@British Airways PLC, a crucial participant in the proposed buy-out of UAL Corp., washed its hands of the current efforts to revive a bid for the parent of United Airlines.@@@@1@30@@oe@2-2-2013
21626002@unknown@formal@none@1@S@Specifically, the British carrier said it currently has no plans to participate in any new offer for UAL.@@@@1@18@@oe@2-2-2013
21626003@unknown@formal@none@1@S@In addition, British Air officially withdrew its support for the previous $300-a-share bid in a terse statement that said "the original deal is closed."@@@@1@24@@oe@2-2-2013
21626004@unknown@formal@none@1@S@Company officials said later that British Airways believes its involvement in the UAL buy-out ended last Friday when the buy-out group, which also includes UAL's management and pilot union, failed to obtain financing for the $6.79 billion transaction.@@@@1@38@@oe@2-2-2013
21626005@unknown@formal@none@1@S@The carrier stopped short of saying it wouldn't at some point reconsider participating in any new bid for UAL.@@@@1@19@@oe@2-2-2013
21626006@unknown@formal@none@1@S@However, company officials said they plan to take "no initiatives" to resurrect the transaction, and "aren't aware" of any restructured bid in the making.@@@@1@24@@oe@2-2-2013
21626007@unknown@formal@none@1@S@Collectively, the statements raised questions about whether a new bid for UAL will ever get off the ground.@@@@1@18@@oe@2-2-2013
21626008@unknown@formal@none@1@S@The transaction has had a series of setbacks since the financing problems became known last Friday, with no signs or statements from the buy-out group to indicate that any progress has taken place.@@@@1@33@@oe@2-2-2013
21626009@unknown@formal@none@1@S@However, in response to the British Air decision, United's pilot union vowed to continue efforts to revive the buy-out.@@@@1@19@@oe@2-2-2013
21626010@unknown@formal@none@1@S@Pilot union Chairman Frederick C. Dubinsky said advisers to UAL management and the union will begin meeting in New York today and will work through the weekend to devise a new proposal to present to UAL's board "at the earliest time possible."@@@@1@42@@oe@2-2-2013
21626011@unknown@formal@none@1@S@Pilot union advisers appeared confident that a new bid could go forward even without British Air's participation.@@@@1@17@@oe@2-2-2013
21626012@unknown@formal@none@1@S@UAL declined to comment on British Air's statement.@@@@1@8@@oe@2-2-2013
21626013@unknown@formal@none@1@S@UAL Chairman Stephen M. Wolf, who is leading the management end of the buy-out, hasn't provided investors with any assurances about the prospect of a new deal.@@@@1@27@@oe@2-2-2013
21626014@unknown@formal@none@1@S@In another setback yesterday, United's machinist union asked the Treasury Department to investigate whether certain aspects of the original buy-out proposal violated tax laws.@@@@1@24@@oe@2-2-2013
21626015@unknown@formal@none@1@S@In an effort to derail the buy-out, the union has already called for investigations by the Securities and Exchange Commission, Transportation Department and Labor Department.@@@@1@25@@oe@2-2-2013
21626016@unknown@formal@none@1@S@But there was one bright spot yesterday.@@@@1@7@@oe@2-2-2013
21626017@unknown@formal@none@1@S@The United flight-attendants union agreed to negotiations that could lead to the flight attendants contributing concessions to a revived bid in exchange for an ownership stake.@@@@1@26@@oe@2-2-2013
21626018@unknown@formal@none@1@S@The pilot union, the only one to support the buy-out thus far, said the flight attendants' decision "enforces our belief that an all-employee owned airline is practical and achievable."@@@@1@29@@oe@2-2-2013
21626019@unknown@formal@none@1@S@Still, without the assurance of British Airways' financial backing, it will be tougher for the buy-out group to convince already-reluctant banks to make loan commitments for a revised bid, especially since British Air's original investment represented 78% of the cash equity contribution for the bid.@@@@1@45@@oe@2-2-2013
21626020@unknown@formal@none@1@S@Under the previous plan, British Air would have received a 15% stake in UAL in exchange for a $750 million equity investment, with a 75% stake going to UAL employees and 10% to UAL management.@@@@1@35@@oe@2-2-2013
21626021@unknown@formal@none@1@S@British Air officials said the airline's chairman, Lord King, was concerned about news reports indicating that British Air might be willing to participate in a bid that included a lower purchase price and better investment terms for the British carrier.@@@@1@40@@oe@2-2-2013
21626022@unknown@formal@none@1@S@The previous reports were based on remarks by British Air's chief financial officer, Derek Stevens, who said any revised bid would have to include a lower purchase price to reflect the sharp drop in UAL's stock in the past week.@@@@1@40@@oe@2-2-2013
21626023@unknown@formal@none@1@S@UAL stock dropped $1.625 yesterday to $190.125 on volume of 923,500 shares in composite trading on the New York Stock Exchange.@@@@1@21@@oe@2-2-2013
21626024@unknown@formal@none@1@S@UAL declined to comment on British Air's statement.@@@@1@8@@oe@2-2-2013
21626025@unknown@formal@none@1@S@In an interview Wednesday with Dow Jones Professional Investor Report, Mr. Stevens said, "We're in no way committed to a deal going through at all.@@@@1@25@@oe@2-2-2013
21626026@unknown@formal@none@1@S@We're not rushing into anything.@@@@1@5@@oe@2-2-2013
21626027@unknown@formal@none@1@S@We don't want to be party to a second rejection."@@@@1@10@@oe@2-2-2013
21626028@unknown@formal@none@1@S@Indeed, British Air seemed to be distancing itself from the troubled transaction early in an effort to avoid any further embarrassment.@@@@1@21@@oe@2-2-2013
21626029@unknown@formal@none@1@S@The original transaction fell through on the same day British Air shareholders approved the plan at a special meeting after the British succeeded in arranging the financing for its equity contribution.@@@@1@31@@oe@2-2-2013
21626030@unknown@formal@none@1@S@The carrier also seemed eager to place blame on its American counterparts.@@@@1@12@@oe@2-2-2013
21626031@unknown@formal@none@1@S@"The {buy-out} consortium ceased to exist because our American partners were not capable of organizing the financing," a British Air spokesman said.@@@@1@22@@oe@2-2-2013
21626032@unknown@formal@none@1@S@British Airways may have begun to have second thoughts about the transaction after the Transportation Department forced Northwest's Airlines' new owners to restructure the equity contribution of KLM Royal Dutch Airlines in that carrier.@@@@1@34@@oe@2-2-2013
21626033@unknown@formal@none@1@S@Most of the department's statements since the Northwest transaction indicated it planned to curtail foreign ownership stakes in U.S. carriers.@@@@1@20@@oe@2-2-2013
21626034@unknown@formal@none@1@S@Even before British Air's announcement, pilot union leaders had been meeting in Chicago yesterday to consider their options.@@@@1@18@@oe@2-2-2013
21626035@unknown@formal@none@1@S@The leaders expressed support for trying to revive the bid following a briefing Wednesday by the union's advisers, Lazard Freres & Co. and Paul, Weiss, Rifkind Wharton & Garrison.@@@@1@29@@oe@2-2-2013
21626036@unknown@formal@none@1@S@They also unanimously re-elected Mr. Dubinsky, the union chairman who has led the pilots' 2 1/2-year fight to take control of the airline.@@@@1@23@@oe@2-2-2013
21626037@unknown@formal@none@1@S@UAL's advisers have indicated previously that it may take a while to come forward with a revised plan since they want to have firm bank commitments before launching a new bid.@@@@1@31@@oe@2-2-2013
21626038@unknown@formal@none@1@S@They have maintained that banks remain interested in financing the transaction.@@@@1@11@@oe@2-2-2013
21626039@unknown@formal@none@1@S@The buy-out fell through after Citicorp and Chase Manhattan Corp., the lead banks in the transaction, failed to obtain $7.2 billion in financing needed for the plan.@@@@1@27@@oe@2-2-2013
21627001@unknown@formal@none@1@S@Italy's industrial wholesale sales index rose 13.2% in June from a year earlier, the state statistical institute Istat said.@@@@1@19@@oe@2-2-2013
21627002@unknown@formal@none@1@S@The June increase compared with a rise of 10.5% in May from a year earlier.@@@@1@15@@oe@2-2-2013
21627003@unknown@formal@none@1@S@Domestic wholesale sales rose 11.9% from a year earlier, while foreign sales jumped 17.3%, Istat said.@@@@1@16@@oe@2-2-2013
21627004@unknown@formal@none@1@S@For the first six months, wholesale sales rose 12.3% from the year before, reflecting to a 11.5% jump in domestic sales and a 14.6% boost in foreign sales.@@@@1@28@@oe@2-2-2013
21627005@unknown@formal@none@1@S@Sales of capital goods to foreign and domestic destinations increased 16.6% in the January-June period from a year earlier.@@@@1@19@@oe@2-2-2013
21627006@unknown@formal@none@1@S@Sales of consumer goods rose 6.9% in the same period, while sales of intermediate goods were up 13.8% from a year ago.@@@@1@22@@oe@2-2-2013
21628001@unknown@formal@none@1@S@Senate Democrats favoring a cut in the capital-gains tax have decided, under pressure from their leaders, not to offer their own proposal, placing another obstacle in the path of President Bush's legislative priority.@@@@1@33@@oe@2-2-2013
21628002@unknown@formal@none@1@S@A core group of six or so Democratic senators has been working behind the scenes to develop a proposal to reduce the tax on the gain from the sale of assets.@@@@1@31@@oe@2-2-2013
21628003@unknown@formal@none@1@S@The plan was complete except for finishing touches, and there was talk that it would be unveiled as early as yesterday.@@@@1@21@@oe@2-2-2013
21628004@unknown@formal@none@1@S@But Senate Majority Leader George Mitchell (D., Maine), a vigorous opponent of the capital-gains tax cut, called the group to meet with him Wednesday night and again yesterday.@@@@1@28@@oe@2-2-2013
21628005@unknown@formal@none@1@S@Sen. Mitchell urged them to desist.@@@@1@6@@oe@2-2-2013
21628006@unknown@formal@none@1@S@Afterward, leaders of the dissident Democrats relented, and said they wouldn't offer their own proposal as they had planned.@@@@1@19@@oe@2-2-2013
21628007@unknown@formal@none@1@S@The decision is a setback for President Bush, who needs the support of Democrats to pass the tax cut through the Democratic-controlled Senate.@@@@1@23@@oe@2-2-2013
21628008@unknown@formal@none@1@S@Having a proposal sponsored by Democrats would have given the president an advantage.@@@@1@13@@oe@2-2-2013
21628009@unknown@formal@none@1@S@Having only a Republican measure makes the task harder.@@@@1@9@@oe@2-2-2013
21628010@unknown@formal@none@1@S@Still, Sen. Bob Packwood (R., Ore.), the lead sponsor of the Republican capital-gains amendment, predicted that the tax cut would be enacted this year.@@@@1@24@@oe@2-2-2013
21628011@unknown@formal@none@1@S@He said a clear majority of senators back the tax reduction and that ultimately there would be enough senators to overcome any procedural hurdle the Democratic leadership might erect.@@@@1@29@@oe@2-2-2013
21628012@unknown@formal@none@1@S@But Sen. Mitchell, buoyed by his victory among fellow Democrats, strongly disagreed.@@@@1@12@@oe@2-2-2013
21628013@unknown@formal@none@1@S@Mr. Mitchell has been predicting that the president's initiative would fail this year.@@@@1@13@@oe@2-2-2013
21628014@unknown@formal@none@1@S@Yesterday, in an interview, he added that the Democrats' decision "increases the likelihood that a capital-gains tax cut will not pass this year."@@@@1@23@@oe@2-2-2013
21628015@unknown@formal@none@1@S@Mr. Mitchell's first victory came last week, when the Senate passed a deficit-reduction bill that didn't contain a capital-gains provision.@@@@1@20@@oe@2-2-2013
21628016@unknown@formal@none@1@S@That vote made it unlikely that a capital-gains tax cut would be included in the final bill, now being drafted by House and Senate negotiators.@@@@1@25@@oe@2-2-2013
21628017@unknown@formal@none@1@S@The House version of the bill does include the tax cut.@@@@1@11@@oe@2-2-2013
21628018@unknown@formal@none@1@S@Now Republican leaders are concentrating on attaching a capital-gains amendment to some other bill, perhaps a measure raising the federal borrowing limit or a second tax bill that would follow on the heels of the deficit-reduction legislation.@@@@1@37@@oe@2-2-2013
21628019@unknown@formal@none@1@S@To help lay the groundwork for that fight, President Bush plans early next week to meet at the White House with some 20 Democratic senators who favor cutting the capital-gains tax or are undecided on the issue.@@@@1@37@@oe@2-2-2013
21628020@unknown@formal@none@1@S@The president apparently will have only one bill to push, Sen. Packwood's, and at least some of the dissident Democrats plan to support it.@@@@1@24@@oe@2-2-2013
21628021@unknown@formal@none@1@S@"I may want to offer additional amendments to improve it when the bill comes to the floor," said Sen. David Boren (D., Okla.), a leader of those Democrats.@@@@1@28@@oe@2-2-2013
21628022@unknown@formal@none@1@S@The Packwood plan, as expected, would allow individuals to exclude from income 5% of the gain from the sale of a capital asset held for more than one year.@@@@1@29@@oe@2-2-2013
21628023@unknown@formal@none@1@S@The exclusion would rise five percentage points for each year the asset was held, until it reached a maximum of 35% after seven years.@@@@1@24@@oe@2-2-2013
21628024@unknown@formal@none@1@S@The exclusion would apply to assets sold after Oct. 1.@@@@1@10@@oe@2-2-2013
21628025@unknown@formal@none@1@S@As an alternative, taxpayers could chose to reduce their gains by an inflation index.@@@@1@14@@oe@2-2-2013
21628026@unknown@formal@none@1@S@For corporations, the top tax rate on the sale of assets held for more than three years would be cut to 33% from the current top rate of 34%.@@@@1@29@@oe@2-2-2013
21628027@unknown@formal@none@1@S@That rate would gradually decline to as little as 29% for corporate assets held for 15 years.@@@@1@17@@oe@2-2-2013
21628028@unknown@formal@none@1@S@The Packwood plan also would include a proposal, designed by Sen. William Roth (R., Del.), that would create new tax benefits for individual retirement accounts.@@@@1@25@@oe@2-2-2013
21628029@unknown@formal@none@1@S@The Roth plan would create a new, non-deductible IRA from which money could be withdrawn tax-free not only for retirement, but also for the purchase of a first home, education expenses and medical expenses.@@@@1@34@@oe@2-2-2013
21628030@unknown@formal@none@1@S@Current IRAs could be rolled over into the new IRAs, but would be subject to tax though no penalty.@@@@1@19@@oe@2-2-2013
21629001@unknown@formal@none@1@S@Westmoreland Coal Co., realizing benefits of a sustained effort to cut costs and boost productivity, reported sharply improved third-quarter results.@@@@1@20@@oe@2-2-2013
21629002@unknown@formal@none@1@S@The producer and marketer of low-sulfur coal said net income for the quarter was $5.9 million, or 71 cents a share, on revenue of $145.4 million.@@@@1@26@@oe@2-2-2013
21629003@unknown@formal@none@1@S@For the year-earlier period, the company reported a loss of $520,000 or six cents a share.@@@@1@16@@oe@2-2-2013
21629004@unknown@formal@none@1@S@In the latest nine months, the company earned $8.5 million, or $1.03 a share.@@@@1@14@@oe@2-2-2013
21629005@unknown@formal@none@1@S@Last year's net loss of $3,524,000 included a benefit of $1,640,000 from an accounting change.@@@@1@15@@oe@2-2-2013
21629006@unknown@formal@none@1@S@Revenue for the nine months rose to $449 million from $441.1 million.@@@@1@12@@oe@2-2-2013
21629007@unknown@formal@none@1@S@In an interview, Pemberton Hutchinson, president and chief executive, cited several reasons for the improvement: higher employee productivity and "good natural conditions" in the mines, as well as lower costs for materials, administrative overhead and debt interest.@@@@1@37@@oe@2-2-2013
21629008@unknown@formal@none@1@S@In the latest nine months, Mr. Hutchinson said, total coal sales rose to about 14.6 million tons from about 14.3 million tons a year earlier.@@@@1@25@@oe@2-2-2013
21629009@unknown@formal@none@1@S@In addition, long-term debt has been trimmed to about $72 million from $96 million since Jan. 1.@@@@1@17@@oe@2-2-2013
21629010@unknown@formal@none@1@S@He predicted the debt ratio will improve further in coming quarters.@@@@1@11@@oe@2-2-2013
21629011@unknown@formal@none@1@S@Westmoreland's strategy is to retain and expand its core business of mining and selling low-sulphur coal in the Appalachia region.@@@@1@20@@oe@2-2-2013
21629012@unknown@formal@none@1@S@The operating territory includes coal terminals on the Ohio River and in Newport News, Va.@@@@1@15@@oe@2-2-2013
21629013@unknown@formal@none@1@S@Westmoreland exports about a fourth of its coal tonnage, including a significant amount of metallurgical coal produced by others that is used by steelmakers overseas.@@@@1@25@@oe@2-2-2013
21629014@unknown@formal@none@1@S@For the past couple of years, Westmoreland has undertaken an aggressive streamlining of all aspects of its business.@@@@1@18@@oe@2-2-2013
21629015@unknown@formal@none@1@S@Marginal operations and assets have been sold.@@@@1@7@@oe@2-2-2013
21629016@unknown@formal@none@1@S@The size of the company's board has been reduced to eight directors from 13.@@@@1@14@@oe@2-2-2013
21629017@unknown@formal@none@1@S@About 140 salaried management jobs and hundreds of hourly wage positions have been eliminated.@@@@1@14@@oe@2-2-2013
21629018@unknown@formal@none@1@S@Even perks have been reduced.@@@@1@5@@oe@2-2-2013
21629019@unknown@formal@none@1@S@For example, the chief executive himself now pays 20% of the cost of his health benefits; the company used to pay 100%.@@@@1@22@@oe@2-2-2013
21629020@unknown@formal@none@1@S@"I think the ship is now righted, the bilges are pumped and we are on course," Mr. Hutchinson said of the restructuring program.@@@@1@23@@oe@2-2-2013
21629021@unknown@formal@none@1@S@"Much of what we set out to do is completed."@@@@1@10@@oe@2-2-2013
21629022@unknown@formal@none@1@S@But he cautioned that Westmoreland's third quarter is typically better than the fourth, so investors "shouldn't just multiply the third quarter by four" and assume the same rate of improvement can be sustained.@@@@1@33@@oe@2-2-2013
21629023@unknown@formal@none@1@S@One difference, he said, is that the fourth quarter has significantly fewer workdays because of holidays and the hunting season.@@@@1@20@@oe@2-2-2013
21629024@unknown@formal@none@1@S@"I don't want to give the impression that everybody can relax now," he said.@@@@1@14@@oe@2-2-2013
21629025@unknown@formal@none@1@S@"We have to keep working at improving our core business to stay efficient.@@@@1@13@@oe@2-2-2013
21629026@unknown@formal@none@1@S@It's a process that never really ends."@@@@1@7@@oe@2-2-2013
21629027@unknown@formal@none@1@S@Nevertheless, Mr. Hutchinson predicted that 1989 would be "solidly profitable" for Westmoreland and that 1990 would bring "more of the same."@@@@1@21@@oe@2-2-2013
21629028@unknown@formal@none@1@S@For all of 1988, the company reported an after-tax operating loss of $134,000 on revenue of $593.5 million.@@@@1@18@@oe@2-2-2013
21629029@unknown@formal@none@1@S@An accounting adjustment made net income $1.5 million, or 18 cents a share.@@@@1@13@@oe@2-2-2013
21629030@unknown@formal@none@1@S@In a move that complements the company's basic strategy, its Westmoreland Energy Inc. unit is developing four coal-fired cogeneration plants with a partner in Virginia.@@@@1@25@@oe@2-2-2013
21629031@unknown@formal@none@1@S@Some of the coal the plants buy will come from Westmoreland mines.@@@@1@12@@oe@2-2-2013
21629032@unknown@formal@none@1@S@Mr. Hutchinson predicted that the unit's contribution to company results in the 1990s "will be exciting."@@@@1@16@@oe@2-2-2013
21629033@unknown@formal@none@1@S@He said Westmoreland is looking at investment stakes in other cogeneration plants east of the Mississippi River.@@@@1@17@@oe@2-2-2013
21629034@unknown@formal@none@1@S@Westmoreland expects energy demand to grow annually in the 2.5% range in the early 1990s.@@@@1@15@@oe@2-2-2013
21629035@unknown@formal@none@1@S@"We see coal's piece of the action growing," Mr. Hutchinson said.@@@@1@11@@oe@2-2-2013
21629036@unknown@formal@none@1@S@"Coal prices, while not skyrocketing, will grow modestly in real terms, we think.@@@@1@13@@oe@2-2-2013
21630001@unknown@formal@none@1@S@Chase Manhattan Corp., after trying unsuccessfully to sell its interest in its lower Manhattan operations building, has exercised its option to purchase the 50-story office tower.@@@@1@26@@oe@2-2-2013
21630002@unknown@formal@none@1@S@Chase had purchased an option to buy the building at One New York Plaza for an undisclosed sum from the late Sol Atlas as part of its original lease in 1970.@@@@1@31@@oe@2-2-2013
21630003@unknown@formal@none@1@S@The current transaction cost the bank approximately $140 million.@@@@1@9@@oe@2-2-2013
21630004@unknown@formal@none@1@S@Of that amount, $20 million was payment for the land underneath the building and the rest was for the building itself.@@@@1@21@@oe@2-2-2013
21630005@unknown@formal@none@1@S@The building houses about 4,500 Chase workers, most of whom will be moved to downtown Brooklyn after the bank's new back office center is completed in 1993.@@@@1@27@@oe@2-2-2013
21630006@unknown@formal@none@1@S@The move is part of Chase's strategy to consolidate its back offices under one roof.@@@@1@15@@oe@2-2-2013
21630007@unknown@formal@none@1@S@The headquarters is located a few blocks away at 1 Chase Manhattan Plaza.@@@@1@13@@oe@2-2-2013
21630008@unknown@formal@none@1@S@As part of its decision to leave the building, Chase tried to sell its interest, along with the Atlas estate's interest, shortly after the October 1987 stock market crash.@@@@1@29@@oe@2-2-2013
21630009@unknown@formal@none@1@S@Chase Senior Vice President George Scandalios said the bank decided to exercise its option after bids fell short of expectations.@@@@1@20@@oe@2-2-2013
21630010@unknown@formal@none@1@S@He said Chase and the Atlas estate were looking to sell the entire building for $400 million to $475 million, but didn't get an offer for more than $375 million.@@@@1@30@@oe@2-2-2013
21630011@unknown@formal@none@1@S@As the building's new owner, Chase will have its work cut out for it.@@@@1@14@@oe@2-2-2013
21630012@unknown@formal@none@1@S@Chase is vacating 1.1 million square feet of space, and Salomon Brothers Inc., whose headquarters is in the building, also plans to move shortly.@@@@1@24@@oe@2-2-2013
21630013@unknown@formal@none@1@S@In addition, another major building tenant, Thomson McKinnon Inc.'s Thomson McKinnon Securities, likely will vacate the premises as part of its liquidation.@@@@1@22@@oe@2-2-2013
21630014@unknown@formal@none@1@S@New York real estate brokerage Edward S. Gordon Co. will have the difficult task of finding new tenants.@@@@1@18@@oe@2-2-2013
21630015@unknown@formal@none@1@S@Even with its striking views of the New York harbor, the building is considered antiquated by modern office standards.@@@@1@19@@oe@2-2-2013
21630016@unknown@formal@none@1@S@And Chase will have to spend approximately $50 million to remove asbestos from the premises.@@@@1@15@@oe@2-2-2013
21631001@unknown@formal@none@1@S@WALL STREET, SHAKE hands with George Orwell.@@@@1@7@@oe@2-2-2013
21631002@unknown@formal@none@1@S@The author of the futuristic novel "1984" invented a language called Newspeak that made it impossible to fully develop a heretical thought -- that is, anything negative about the policies and practices of the state.@@@@1@35@@oe@2-2-2013
21631003@unknown@formal@none@1@S@Wall Street hasn't gotten that far yet, but it has made a promising start.@@@@1@14@@oe@2-2-2013
21631004@unknown@formal@none@1@S@Its language -- call it Streetspeak -- is increasingly mellifluous, reassuring, and designed to make financial products and maneuvers appear better, safer or cheaper than they really are.@@@@1@28@@oe@2-2-2013
21631005@unknown@formal@none@1@S@When something undeniably nasty happens, a few euphemisms are deployed to simply make it disappear, much as a fresh grave may be covered by a blanket of flowers.@@@@1@28@@oe@2-2-2013
21631006@unknown@formal@none@1@S@For example, we'll bet you thought that the stock market crashed two years ago.@@@@1@14@@oe@2-2-2013
21631007@unknown@formal@none@1@S@Wrong.@@@@1@1@@oe@2-2-2013
21631008@unknown@formal@none@1@S@According to some of the grand panjandrums of the market, it never happened.@@@@1@13@@oe@2-2-2013
21631009@unknown@formal@none@1@S@In their lexicon the 508-point collapse in the Dow Jones Industrial Average on Oct. 19, 1987, was just a big blip.@@@@1@21@@oe@2-2-2013
21631010@unknown@formal@none@1@S@Trotting out a much-beloved Streetspeak term, New York Stock Exchange Chairman John Phelan recently declared that history would record the event as only "a major technical correction."@@@@1@27@@oe@2-2-2013
21631011@unknown@formal@none@1@S@(Another much-beloved saying, however, this one in plain English, holds that if something walks like a duck and quacks like a duck, it is a duck.@@@@1@26@@oe@2-2-2013
21631012@unknown@formal@none@1@S@On Oct. 29, 1929 -- a date historians stubbornly insist on associating with the dreaded C-word -- the DJ industrials fell 12.8%.@@@@1@22@@oe@2-2-2013
21631013@unknown@formal@none@1@S@In the "technical correction" of two years ago, they lost a whopping 22.6%.)@@@@1@13@@oe@2-2-2013
21631014@unknown@formal@none@1@S@Customers hear a lot of this stuff from people who try to sell them stock.@@@@1@15@@oe@2-2-2013
21631015@unknown@formal@none@1@S@These people used to be called brokers, but apparently this word either is not grandiose enough or carries too many negative connotations from the aforementioned technical correction, when terrified customers couldn't raise brokers on the phone.@@@@1@36@@oe@2-2-2013
21631016@unknown@formal@none@1@S@Either way, the word "broker" is clearly out of favor.@@@@1@10@@oe@2-2-2013
21631017@unknown@formal@none@1@S@Of the major New York-based securities firms, only Morgan Stanley & Co. still calls its salespeople brokers.@@@@1@17@@oe@2-2-2013
21631018@unknown@formal@none@1@S@At Merrill Lynch & Co. and Shearson Lehman Hutton Inc., they are "financial consultants."@@@@1@14@@oe@2-2-2013
21631019@unknown@formal@none@1@S@At Drexel Burnham Lambert Inc., Prudential Bache Securities, and Dean Witter Reynolds Inc., they are "account executives."@@@@1@17@@oe@2-2-2013
21631020@unknown@formal@none@1@S@At PaineWebber Inc., they are "investment executives."@@@@1@7@@oe@2-2-2013
21631021@unknown@formal@none@1@S@Such titles are designed to convey a sense of dignified, broad-scale competence and expertise in selling today's myriad financial products.@@@@1@20@@oe@2-2-2013
21631022@unknown@formal@none@1@S@It is a competence and expertise that some brokers themselves, overwhelmed by all the new things being dreamed up for them to peddle, don't feel.@@@@1@25@@oe@2-2-2013
21631023@unknown@formal@none@1@S@"Its almost product de jour," grouses one account executive at Dean Witter.@@@@1@12@@oe@2-2-2013
21631024@unknown@formal@none@1@S@The transmogrified brokers never let the C-word cross their lips, instead stressing such terms as "safe," "insured" and "guaranteed" -- even though these terms may be severely limited in their application to a particular new financial product.@@@@1@37@@oe@2-2-2013
21631025@unknown@formal@none@1@S@The names of some of these products don't suggest the risk involved in buying them, either.@@@@1@16@@oe@2-2-2013
21631026@unknown@formal@none@1@S@A case in point: "government-plus" bond funds.@@@@1@7@@oe@2-2-2013
21631027@unknown@formal@none@1@S@What could imply more safety than investing in government bonds?@@@@1@10@@oe@2-2-2013
21631028@unknown@formal@none@1@S@What could be better than getting a tad more income from them (the plus) than other people?@@@@1@17@@oe@2-2-2013
21631029@unknown@formal@none@1@S@Indeed, conservative investors, many of them elderly, have poured more than $50 billion into such funds, which promise fatter yields than ordinary Treasury bonds -- only to learn later that these funds use part of their money to dabble in high-risk bond options, a gambler's game.@@@@1@46@@oe@2-2-2013
21631030@unknown@formal@none@1@S@When a certain class of investment performs so poorly that its reputation is tarnished, look for Wall Street to give it a new moniker.@@@@1@24@@oe@2-2-2013
21631031@unknown@formal@none@1@S@This seems to be happening now to limited partnerships, many of which either have gone into the tank in recent years or have otherwise been grievous disappointments.@@@@1@27@@oe@2-2-2013
21631032@unknown@formal@none@1@S@They are still being sold, but more and more often as "direct investments" -- with all the same risks they had under the old label.@@@@1@25@@oe@2-2-2013
21631033@unknown@formal@none@1@S@In such cases, the game hasn't changed, only the name.@@@@1@10@@oe@2-2-2013
21631034@unknown@formal@none@1@S@In others a familiar old name still prevails, but the underlying game has changed.@@@@1@14@@oe@2-2-2013
21631035@unknown@formal@none@1@S@For example, "no load" mutual funds remain a favorite with investors because they don't carry a frontend sales commission.@@@@1@19@@oe@2-2-2013
21631036@unknown@formal@none@1@S@Getting out of them, however, may be a different story now.@@@@1@11@@oe@2-2-2013
21631037@unknown@formal@none@1@S@Traditional no-loads made their money by charging an annual management fee, usually a modest one; they imposed no other fees, and many still don't.@@@@1@24@@oe@2-2-2013
21631038@unknown@formal@none@1@S@In recent years, though, a passel of others flying the no-load flag have been imposing hefty charges -- all the way up to 6% -- when an investor sells his shares.@@@@1@31@@oe@2-2-2013
21631039@unknown@formal@none@1@S@Shouldn't they properly be called exit-load funds?@@@@1@7@@oe@2-2-2013
21631040@unknown@formal@none@1@S@The mutual-fund industry is debating the question, but don't expect a new name while the old one is working so well.@@@@1@21@@oe@2-2-2013
21631041@unknown@formal@none@1@S@And don't expect anyone to change the term "blue chip," either, even though some of the companies that still enjoy the title may be riskier investments than they were.@@@@1@29@@oe@2-2-2013
21631042@unknown@formal@none@1@S@American Telephone & Telegraph Co., for one, is still a favorite of widows, orphans and trust departments -- but shorn of its regional telephone units and exposed to competition on every side, it is a far different investment prospect than it was before divestiture.@@@@1@44@@oe@2-2-2013
21631043@unknown@formal@none@1@S@Also, blue chips in general have suffered much more short-term price volatility in recent years.@@@@1@15@@oe@2-2-2013
21631044@unknown@formal@none@1@S@Larry Biehl, a money manager in San Mateo, Calif., blames that on the advent of program trading, in which computers used by big institutional investors are programmed to buy and sell big blocks when certain market conditions prevail.@@@@1@38@@oe@2-2-2013
21631045@unknown@formal@none@1@S@Blue chips, he says, "are now being referred to as poker chips."@@@@1@12@@oe@2-2-2013
21631046@unknown@formal@none@1@S@Finally, even the time-honored strategy called "value investing" no longer means what it once did.@@@@1@15@@oe@2-2-2013
21631047@unknown@formal@none@1@S@Before the takeover mania of the '80s, it referred to rooting out through analysis undervalued stocks, especially those with shrewd management, sound fundamentals and decent prospects.@@@@1@26@@oe@2-2-2013
21631048@unknown@formal@none@1@S@Now, says Mr. Biehl, value investing often means "looking for downtrodden companies with terrible management that are in real trouble."@@@@1@20@@oe@2-2-2013
21631049@unknown@formal@none@1@S@To institutional investors or brokers, he adds, a company with value is a company at risk of being swallowed up.@@@@1@20@@oe@2-2-2013
21631050@unknown@formal@none@1@S@Ms. Bettner covers personal finance from The Wall Street Journal's Los Angeles bureau.@@@@1@13@@oe@2-2-2013
21632001@unknown@formal@none@1@S@I was amused to read your recent news stories on the banking industry's reserve additions and concomitant threats to cease making new loans to less-developed countries.@@@@1@26@@oe@2-2-2013
21632002@unknown@formal@none@1@S@If the whole story were told, it would read something like this:@@@@1@12@@oe@2-2-2013
21632003@unknown@formal@none@1@S@-- During the 1970s the commercial banks lured the country loan business away from the bond markets where the discipline of a prospectus and "Use of Proceeds" confirmation allowed lenders to audit expenditures of old loans before new loans were made.@@@@1@41@@oe@2-2-2013
21632004@unknown@formal@none@1@S@-- The reward for that reckless lending was high reported earnings (and management bonuses); the price, a sea of bad loans.@@@@1@21@@oe@2-2-2013
21632005@unknown@formal@none@1@S@-- For the past several years, the banks, lacking a private navy to enforce their interests, have been pressuring the U.S. Treasury to underwrite their bad LDC credits.@@@@1@28@@oe@2-2-2013
21632006@unknown@formal@none@1@S@-- The Treasury wisely has refused, but has concluded that indirect credit support through various multinational agencies should be made available for a price: either debt reduction or debt-service reduction or new loans (the Brady Plan).@@@@1@36@@oe@2-2-2013
21632007@unknown@formal@none@1@S@-- The banks will threaten not to make further loans, but in truth, lacking the capital to write off their mistakes or to build a navy, they have no alternative but to go along.@@@@1@34@@oe@2-2-2013
21632008@unknown@formal@none@1@S@George A. Wiegers@@@@1@3@@oe@2-2-2013
21633001@unknown@formal@none@1@S@Gillette Co. elected Warren E. Buffett, chairman of Berkshire Hathaway Inc., to its board, increasing the number of directors to 12 from 11.@@@@1@23@@oe@2-2-2013
21633002@unknown@formal@none@1@S@Berkshire Hathaway earlier this year bought $600 million of preferred stock in Gillette that is convertible into an 11% stake, and Gillette said at the time that Mr. Buffett would be added to the board.@@@@1@35@@oe@2-2-2013
21633003@unknown@formal@none@1@S@Separately, Gillette said its third-quarter earnings rose 2% to $65.2 million, or 57 cents a share, from $63.9 million, or 57 cents a share, in the year-earlier period; per-share earnings remained flat despite an increase in net income in part because the company paid a $10.4 million dividend on the new preferred stock in the period.@@@@1@56@@oe@2-2-2013
21633004@unknown@formal@none@1@S@Sales rose 9% to $921.6 million from $845.7 million, with sales of the company's international/diversified operations "well above" the year earlier-period.@@@@1@21@@oe@2-2-2013
21633005@unknown@formal@none@1@S@For the nine months, Gillette's net income declined 1% to $205.3 million, or $2.02 a share, from $207 million, or $1.82 a share, in the 1988 period.@@@@1@27@@oe@2-2-2013
21633006@unknown@formal@none@1@S@Sales rose 6% to $2.77 billion from $2.61 billion.@@@@1@9@@oe@2-2-2013
21633007@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, the company closed yesterday at $45.50 a share, up 25 cents.@@@@1@20@@oe@2-2-2013
21634001@unknown@formal@none@1@S@When Walter Yetnikoff, the president of Sony Corp.'s CBS Records, last month told producer Peter Guber that Sony was about to make a $3.4 billion bid for Columbia Pictures and needed someone to run the studio, Mr. Guber jumped at the chance.@@@@1@42@@oe@2-2-2013
21634002@unknown@formal@none@1@S@Within two days, he was on his way to New York and Tokyo to meet with top brass at Sony.@@@@1@20@@oe@2-2-2013
21634003@unknown@formal@none@1@S@And before the week was out, Sony had offered Mr. Guber and his partner, Jon Peters, the most lucrative employment contracts in the history of the movie business.@@@@1@28@@oe@2-2-2013
21634004@unknown@formal@none@1@S@Not only that, Sony also agreed to give them a stake in Columbia's future profits and buy their company, Guber Peters Entertainment Co., for $200 million, almost 40% more than the market value of the company.@@@@1@36@@oe@2-2-2013
21634005@unknown@formal@none@1@S@There was just one sticking point: The two had a prior commitment.@@@@1@12@@oe@2-2-2013
21634006@unknown@formal@none@1@S@Just seven months earlier, they had signed a five-year exclusive contract to make movies for Warner Bros. for which they had just produced the smash hit "Batman."@@@@1@27@@oe@2-2-2013
21634007@unknown@formal@none@1@S@But Mr. Guber figured that Warner Communications Inc. chairman Steven Ross, would empathize and let the producers go, knowing the Sony offer was "the culmination of a life's work."@@@@1@29@@oe@2-2-2013
21634008@unknown@formal@none@1@S@He figured wrong.@@@@1@3@@oe@2-2-2013
21634009@unknown@formal@none@1@S@Last week, following fruitless settlement talks, Warner, now merging with Time Inc., filed a $1 billion breach of contract suit in Los Angeles Superior Court against both Sony and Guber Peters.@@@@1@31@@oe@2-2-2013
21634010@unknown@formal@none@1@S@Sony promptly countersued, charging Warner with trying to sabotage its acquisitions and hurt its efforts to enter the U.S. movie business.@@@@1@21@@oe@2-2-2013
21634011@unknown@formal@none@1@S@The accusations of lying and duplicity are flying thick and fast on both sides: As one Sony executive puts it, "It's World War III."@@@@1@24@@oe@2-2-2013
21634012@unknown@formal@none@1@S@That two successful producers who aren't all that well known outside Hollywood could occasion such a clash of corporate titans suggests how desperate the quest for proven talent is in the movie business.@@@@1@33@@oe@2-2-2013
21634013@unknown@formal@none@1@S@And they are a very odd team in any case.@@@@1@10@@oe@2-2-2013
21634014@unknown@formal@none@1@S@Mr. Guber was raised in Boston and educated in New York.@@@@1@11@@oe@2-2-2013
21634015@unknown@formal@none@1@S@He is a lawyer with a string of academic degrees.@@@@1@10@@oe@2-2-2013
21634016@unknown@formal@none@1@S@Mr. Peters is a high-school dropout who came to fame as Barbra Streisand's hairdresser.@@@@1@14@@oe@2-2-2013
21634017@unknown@formal@none@1@S@Yet, they are far and away the most prolific producers in Hollywood.@@@@1@12@@oe@2-2-2013
21634018@unknown@formal@none@1@S@And despite their share of duds, they make movies that make money.@@@@1@12@@oe@2-2-2013
21634019@unknown@formal@none@1@S@That is a skill Sony badly needs -- and Warner is loath to lose.@@@@1@14@@oe@2-2-2013
21634020@unknown@formal@none@1@S@Although Columbia had a good summer with "Ghostbusters II" and "When Harry Met Sally," rivals such as Warner, Paramount Pictures, Walt Disney Co. and Universal Studios have been thrashing Columbia at the box office.@@@@1@34@@oe@2-2-2013
21634021@unknown@formal@none@1@S@After five years of management turmoil, with four different studio heads, Columbia sorely needs a stable, savvy team to restore its credibility and get it back in the business of making hits.@@@@1@32@@oe@2-2-2013
21634022@unknown@formal@none@1@S@Mr. Guber and Mr. Peters aren't universally loved in Hollywood but they are well connected.@@@@1@15@@oe@2-2-2013
21634023@unknown@formal@none@1@S@Their stock in trade as "executive producers" is sniffing out hot properties, locking them up and then getting big studios to bankroll and distribute them.@@@@1@25@@oe@2-2-2013
21634024@unknown@formal@none@1@S@Sometimes Mr. Guber and Mr. Peters do little more than grab the first draft of a screenplay for a "Flashdance," or buy rights to a best seller such as "The Color Purple."@@@@1@32@@oe@2-2-2013
21634025@unknown@formal@none@1@S@It falls to others to do the writing, directing and producing.@@@@1@11@@oe@2-2-2013
21634026@unknown@formal@none@1@S@With MGM/UA's "Rainman," for instance, Messrs. Guber and Peters had virtually nothing to do with day-to-day production, but their names still appear in big letters on the credits, and they are inevitably associated with its success.@@@@1@36@@oe@2-2-2013
21634027@unknown@formal@none@1@S@Sometimes, as with "Batman," the pair really do make the film.@@@@1@11@@oe@2-2-2013
21634028@unknown@formal@none@1@S@In that case, Guber Peters acquired the rights in 1979, nursed the movie through a dozen scripts, and were on the set in London for 11 months hovering over the most minute changes in casting and production.@@@@1@37@@oe@2-2-2013
21634029@unknown@formal@none@1@S@"They're the best production talent around," says Brian De Palma, beholden to Guber Peters for hiring him to direct the Warner movie of Tom Wolfe's novel "Bonfire of the Vanities."@@@@1@30@@oe@2-2-2013
21634030@unknown@formal@none@1@S@On that film, which is to start shooting in a few months, "they've been very much involved, hiring talent and discussing the development of the script.@@@@1@26@@oe@2-2-2013
21634031@unknown@formal@none@1@S@And when you're making a movie this big, you need all the help you can get," Mr. De Palma adds.@@@@1@20@@oe@2-2-2013
21634032@unknown@formal@none@1@S@"I wish they were around 24 hours a day."@@@@1@9@@oe@2-2-2013
21634033@unknown@formal@none@1@S@And some movies seem to have been hurt by their inattention.@@@@1@11@@oe@2-2-2013
21634034@unknown@formal@none@1@S@Warner executives blame Mr. Guber's and Mr. Peters's lack of involvement in "Caddyshack II" for casting and production problems and the film's ultimate dismal failure.@@@@1@25@@oe@2-2-2013
21634035@unknown@formal@none@1@S@"We've had a few bombs," admits Mr. Peters.@@@@1@8@@oe@2-2-2013
21634036@unknown@formal@none@1@S@"But by and large this company has only been profitable."@@@@1@10@@oe@2-2-2013
21634037@unknown@formal@none@1@S@He says his company's prowess at packaging and marketing "is why we'll be good at Columbia.@@@@1@16@@oe@2-2-2013
21634038@unknown@formal@none@1@S@We practically ran our own studio."@@@@1@6@@oe@2-2-2013
21634039@unknown@formal@none@1@S@Longtime Hollywood associates describe Mr. Guber as the intellectual powerhouse of the two, a man with a flair for deal-making and marketing.@@@@1@22@@oe@2-2-2013
21634040@unknown@formal@none@1@S@"Peter is a major piece of Hollywood manpower who has really earned his success," says Robert Bookman, an agent at Creative Artists Agency.@@@@1@23@@oe@2-2-2013
21634041@unknown@formal@none@1@S@Mark Johnson, the producer of "Rainman," chimes in: "He has a great ability to hire terrific people and delegate authority. . . .@@@@1@23@@oe@2-2-2013
21634042@unknown@formal@none@1@S@It's no accident that they've been able to develop such successful material."@@@@1@12@@oe@2-2-2013
21634043@unknown@formal@none@1@S@Mr. Peters, on the other hand, has fewer fans in Hollywood, and his detractors like to characterize him as something of a hot-tempered bully.@@@@1@24@@oe@2-2-2013
21634044@unknown@formal@none@1@S@He gets better reviews as a creative whiz, an enthusiast, an idea man.@@@@1@13@@oe@2-2-2013
21634045@unknown@formal@none@1@S@He also had to fight harder for credibility than his partner did.@@@@1@12@@oe@2-2-2013
21634046@unknown@formal@none@1@S@Barbra Streisand made him famous.@@@@1@5@@oe@2-2-2013
21634047@unknown@formal@none@1@S@He cut her hair.@@@@1@4@@oe@2-2-2013
21634048@unknown@formal@none@1@S@He lived with her.@@@@1@4@@oe@2-2-2013
21634049@unknown@formal@none@1@S@He came to produce her records and her movies -- "A Star Is Born" and "The Main Event."@@@@1@18@@oe@2-2-2013
21634050@unknown@formal@none@1@S@Thrice married but now single, Mr. Peters got plenty of ink last summer for an on-set romance with actress Kim Basinger during the making of "Batman."@@@@1@26@@oe@2-2-2013
21634051@unknown@formal@none@1@S@Mr. Guber, by contrast, has been married to one woman for more than 20 years.@@@@1@15@@oe@2-2-2013
21634052@unknown@formal@none@1@S@But for all their intellectual and stylistic differences, they make the perfect "good cop, bad cop" team, Hollywood associates say.@@@@1@20@@oe@2-2-2013
21634053@unknown@formal@none@1@S@"Peter is the bright, sympathetic guy when you're doing a deal," says one agent.@@@@1@14@@oe@2-2-2013
21634054@unknown@formal@none@1@S@"If there's a problem, Peter disappears, and all of a sudden Jon shows up."@@@@1@14@@oe@2-2-2013
21634055@unknown@formal@none@1@S@Mr. Guber and Mr. Peters rub many people in Hollywood the wrong way.@@@@1@13@@oe@2-2-2013
21634056@unknown@formal@none@1@S@Producers Don Simpson and Jerry Bruckheimer, who shepherded "Flashdance" through several scripts and ultimately produced the movie, bristle when Messrs. Guber and Peters take credit for the film.@@@@1@28@@oe@2-2-2013
21634057@unknown@formal@none@1@S@Says Mr. Simpson: "The script was unreadable.@@@@1@7@@oe@2-2-2013
21634058@unknown@formal@none@1@S@We reinvented it.@@@@1@3@@oe@2-2-2013
21634059@unknown@formal@none@1@S@We are the producers of that movie.@@@@1@7@@oe@2-2-2013
21634060@unknown@formal@none@1@S@They got a small piece of the net profits and a screen credit" as executive producers.@@@@1@16@@oe@2-2-2013
21634061@unknown@formal@none@1@S@When Roger Birnbaum, an executive who worked for Guber Peters in the early 1980s, left to take a job as head of production at the United Artists studio, they made him forfeit all credits and financial interest in the films he had helped develop, including "Rainman" and "Batman."@@@@1@48@@oe@2-2-2013
21634062@unknown@formal@none@1@S@Mr. Peters acknowledges that and says it's not unlike the situation he and Mr. Guber are in with Warner.@@@@1@19@@oe@2-2-2013
21634063@unknown@formal@none@1@S@"I was upset with Roger, I fumpered and schmumpered," says Mr. Peters.@@@@1@12@@oe@2-2-2013
21634064@unknown@formal@none@1@S@"But he wanted to pursue his own dream, and he went."@@@@1@11@@oe@2-2-2013
21634065@unknown@formal@none@1@S@Still, Mr. Birnbaum says his relationship with Guber Peters was "one of the most successful I've had in Hollywood."@@@@1@19@@oe@2-2-2013
21634066@unknown@formal@none@1@S@The two "have a wonderful chemistry -- Jon is very impulsive, and Peter is very compulsive," adds Mr. Birnbaum, who is now head of production at News Corp.'s 20th Century Fox Film Co.@@@@1@33@@oe@2-2-2013
21634067@unknown@formal@none@1@S@"Jon Peters will come barreling into a room, say he's got a great idea, and be gone.@@@@1@17@@oe@2-2-2013
21634068@unknown@formal@none@1@S@Peter will take the kernel of that idea and make it grow into something specific. . . ."@@@@1@18@@oe@2-2-2013
21634069@unknown@formal@none@1@S@Mr. Birnbaum recalls that Mr. Guber and Mr. Peters shifted into high gear a few years back upon learning that they had competition for the story of the murdered naturalist Dian Fossey, which became "Gorillas in the Mist."@@@@1@38@@oe@2-2-2013
21634070@unknown@formal@none@1@S@He says, "Within a few weeks, we made deals with the government of Rwanda and everyone who had ever met or talked to Dian Fossey.@@@@1@25@@oe@2-2-2013
21634071@unknown@formal@none@1@S@I think Peter even made some deals with the gorillas."@@@@1@10@@oe@2-2-2013
21634072@unknown@formal@none@1@S@Universal Studios was working on a competing film, but the studio and its producers ultimately agreed to co-produce the film with Guber Peters and Warner.@@@@1@25@@oe@2-2-2013
21634073@unknown@formal@none@1@S@More recently, Guber Peters beat out a dozen other producers, reportedly including Robert Redford and Ted Turner, for rights to the life story of Chico Mendes, the murdered Brazilian union leader who fought developers in the Amazon rain forest.@@@@1@39@@oe@2-2-2013
21634074@unknown@formal@none@1@S@Messrs. Guber and Peters assiduously courted the man's widow for months, showing her a tape of "Gorillas in the Mist" to impress her with the quality of their work.@@@@1@29@@oe@2-2-2013
21634075@unknown@formal@none@1@S@Money helped, too.@@@@1@3@@oe@2-2-2013
21634076@unknown@formal@none@1@S@Ultimately, they paid more than $1 million for the rights.@@@@1@10@@oe@2-2-2013
21634077@unknown@formal@none@1@S@(The sale caused a rift between the widow and some of her husband's followers.@@@@1@14@@oe@2-2-2013
21634078@unknown@formal@none@1@S@Some of the money will go to the Chico Mendes Foundation, but it isn't earmarked for groups trying to save the rain forest.)@@@@1@23@@oe@2-2-2013
21634079@unknown@formal@none@1@S@It's hardly astonishing (given the men's track record) that Sony wants Mr. Guber and Mr. Peters.@@@@1@16@@oe@2-2-2013
21634080@unknown@formal@none@1@S@But it is puzzling to some Hollywood executives that Sony rushed to hire them without clearing up the Warner situation first.@@@@1@21@@oe@2-2-2013
21634081@unknown@formal@none@1@S@Some note that Sony might have saved itself some trouble by just hiring Mr. Guber and letting Mr. Peters stay on to fulfill the Warner contract.@@@@1@26@@oe@2-2-2013
21634082@unknown@formal@none@1@S@But though "people in town may ask why Guber needs Peters, it's good to have a partner, and obviously the chemistry works," says Steven Tisch, a producer who once worked for Mr. Guber.@@@@1@33@@oe@2-2-2013
21634083@unknown@formal@none@1@S@"This business isn't about personalities at the end of the day -- its about whether the ink is red or black.@@@@1@21@@oe@2-2-2013
21634084@unknown@formal@none@1@S@In the case of Peter and Jon, the ink has been very, very black."@@@@1@14@@oe@2-2-2013
21634085@unknown@formal@none@1@S@Mr. Guber got his start in the movie business at Columbia two decades ago.@@@@1@14@@oe@2-2-2013
21634086@unknown@formal@none@1@S@Recruited from New York University's MBA program, he rose within two years to head of production, overseeing such films as "The Way We Were," "Taxi Driver," "Tommy" and "Shampoo."@@@@1@29@@oe@2-2-2013
21634087@unknown@formal@none@1@S@In 1976, he teamed up with record producer Neil Bogart in Casablanca Records and Filmworks -- later called Polygram Pictures -- where they produced such hits as as "The Deep," and "Midnight Express."@@@@1@33@@oe@2-2-2013
21634088@unknown@formal@none@1@S@In 1980, Mr. Guber got together with Mr. Peters, by then a successful producer in his own right, after the death of Mr. Bogart.@@@@1@24@@oe@2-2-2013
21634089@unknown@formal@none@1@S@While Guber Peters produced a number of hits for Warner and others, their record wasn't always so impressive.@@@@1@18@@oe@2-2-2013
21634090@unknown@formal@none@1@S@Among their clinkers were "The Legend of Billie Jean," "VisionQuest," "Clue" and "Clan of the Cave Bear."@@@@1@17@@oe@2-2-2013
21634091@unknown@formal@none@1@S@And the failures make it possible for Warner in its current lawsuit to paint the producers as ingrates.@@@@1@18@@oe@2-2-2013
21634092@unknown@formal@none@1@S@The studio says it stuck with them "even in the early years when the creative partnership was not particularly profitable for Warner."@@@@1@22@@oe@2-2-2013
21634093@unknown@formal@none@1@S@Mr. Guber replies that "this is a Goliath, this Time Warner, trying to chew up two fellows who have done only well for them for a long period of time."@@@@1@30@@oe@2-2-2013
21634094@unknown@formal@none@1@S@Mr. Guber and Mr. Peters maintain that executives at Warner have always known of their ambitions to run a major entertainment powerhouse, but that Warner never felt threatened until they linked up with Sony.@@@@1@34@@oe@2-2-2013
21634095@unknown@formal@none@1@S@"From the beginning, {they} knew we had a goal and a dream," says Mr. Guber.@@@@1@15@@oe@2-2-2013
21634096@unknown@formal@none@1@S@On a number of occasions, he adds, he tried to get Warner to buy Guber Peters outright.@@@@1@17@@oe@2-2-2013
21634097@unknown@formal@none@1@S@"They always listened, but they never acted," Mr. Guber says.@@@@1@10@@oe@2-2-2013
21634098@unknown@formal@none@1@S@In 1987, Mr. Guber and Mr. Peters contributed their company's assets in exchange for a 28% stake in Barris Entertainment, a small-fry TV production company controlled by Giant Industries Inc. Chairman Burt Sugarman.@@@@1@33@@oe@2-2-2013
21634099@unknown@formal@none@1@S@In July a year later, Warner agreed to release the producers from their old contract when Messrs. Guber, Peters and Sugarman made a $100 million offer to buy 25% of MGM/UA.@@@@1@31@@oe@2-2-2013
21634100@unknown@formal@none@1@S@Mr. Guber and Mr. Peters planned to run the nearly dormant MGM studio, and the two even tried to interest Warner Bros.' President Terry Semel in becoming a partner after he advised them on the deal.@@@@1@36@@oe@2-2-2013
21634101@unknown@formal@none@1@S@But the MGM plan collapsed just two weeks later.@@@@1@9@@oe@2-2-2013
21634102@unknown@formal@none@1@S@Mr. Guber and Mr. Peters say they got a look at the books and balked at the price.@@@@1@18@@oe@2-2-2013
21634103@unknown@formal@none@1@S@Their relationship with Mr. Sugarman soured shortly thereafter.@@@@1@8@@oe@2-2-2013
21634104@unknown@formal@none@1@S@Last May, he sold his 24% stake in Barris to a passive Australian investor and Barris was renamed Guber Peters Entertainment Co.@@@@1@22@@oe@2-2-2013
21634105@unknown@formal@none@1@S@Meanwhile, Mr. Guber and Mr. Peters had agreed to extend their Warner agreement with the new five-year exclusive contract.@@@@1@19@@oe@2-2-2013
21634106@unknown@formal@none@1@S@The new deal was considered the most generous of its kind, both financially and in terms of creative freedom.@@@@1@19@@oe@2-2-2013
21634107@unknown@formal@none@1@S@But it paled by comparison to what Sony was to offer last month: the chance, at last, to run a major studio, about $50 million in deferred compensation, up to 10% of Columbia's future cash flow, 8% of the future appreciation of Columbia's market value, and annual salaries of $2.7 million for each.@@@@1@53@@oe@2-2-2013
21634108@unknown@formal@none@1@S@The producers' 28% share of publicly held Guber Peters would net them an additional $50 million.@@@@1@16@@oe@2-2-2013
21634109@unknown@formal@none@1@S@Sony also agreed to indemnify the producers against any liability to Warner.@@@@1@12@@oe@2-2-2013
21634110@unknown@formal@none@1@S@Sony is paying a hefty price for a company that had revenue of only $42 million last year.@@@@1@18@@oe@2-2-2013
21634111@unknown@formal@none@1@S@And earnings have been erratic.@@@@1@5@@oe@2-2-2013
21634112@unknown@formal@none@1@S@In the the latest quarter, thanks in part to "Batman," Guber Peters earned $5.8 million, or 50 cents a share, compared to a loss of $6.8 million, or 62 cents a share, in last year's quarter.@@@@1@36@@oe@2-2-2013
21634113@unknown@formal@none@1@S@Guber Peters stock, which traded as low as $6 a share last year, closed yesterday at $16.625.@@@@1@17@@oe@2-2-2013
21634114@unknown@formal@none@1@S@The two sides now are accusing each other of lying.@@@@1@10@@oe@2-2-2013
21634115@unknown@formal@none@1@S@Mr. Guber and Mr. Peters claim they have an oral agreement with Warner executives that allows them to terminate their contract should the opportunity to run a major studio arise.@@@@1@30@@oe@2-2-2013
21634116@unknown@formal@none@1@S@But in affidavits filed yesterday in the Los Angeles court, Mr. Ross, Warner Bros. Chairman Robert Daly and President Semel deny that such an oral agreement was ever made.@@@@1@29@@oe@2-2-2013
21634117@unknown@formal@none@1@S@Warner, in its court filings, calls it "a piece of fiction created for this litigation."@@@@1@15@@oe@2-2-2013
21634118@unknown@formal@none@1@S@Mr. Daly in his affidavit acknowledges that Warner agreed to release the producers last year to take over MGM but says that situation was altogether different.@@@@1@26@@oe@2-2-2013
21634119@unknown@formal@none@1@S@For one thing, according to Mr. Daly, the producers requested a release in advance.@@@@1@14@@oe@2-2-2013
21634120@unknown@formal@none@1@S@Moreover, the old contract was about to expire, and the lineup of Guber Peters pictures for Warner wasn't as strong as it is now.@@@@1@24@@oe@2-2-2013
21634121@unknown@formal@none@1@S@Warner itself was in negotiations with MGM over certain movie and other rights, and it was "in Warner's interest to accommodate MGM/UA, Guber and Peters by permitting them to become MGM executives," Mr. Daly said in his affidavit.@@@@1@38@@oe@2-2-2013
21634122@unknown@formal@none@1@S@Warner obviously doesn't think that it is in its own interests to let Mr. Guber and Mr. Peters go off to Columbia.@@@@1@22@@oe@2-2-2013
21634123@unknown@formal@none@1@S@At the very least, Mr. Ross clearly sees an opportunity to use the two men to get a pound of flesh from Sony.@@@@1@23@@oe@2-2-2013
21634124@unknown@formal@none@1@S@During settlement talks, for example, Warner demanded such things as cable TV rights to Columbia movies and Columbia's interest in the studio it jointly owns with Warner, according to executives involved in the talks.@@@@1@34@@oe@2-2-2013
21634125@unknown@formal@none@1@S@In any settlement, Warner is almost certain to demand rights to most of the 50 or so projects Mr. Guber and Mr. Peters have locked up for the next few years, notably sequels to "Batman."@@@@1@35@@oe@2-2-2013
21634126@unknown@formal@none@1@S@Mr. Guber and Mr. Peters refuse to concede that they may have made a tactical error in accepting the Sony offer before taking it up with Warner.@@@@1@27@@oe@2-2-2013
21634127@unknown@formal@none@1@S@And they say there are plenty of precedents in Hollywood for letting people out of contracts.@@@@1@16@@oe@2-2-2013
21634128@unknown@formal@none@1@S@The last time Columbia Pictures was looking for a studio chief, they note, Warner released producer David Puttnam from his contract, then took him back after he was subsequently fired by his bosses at Columbia.@@@@1@35@@oe@2-2-2013
21634129@unknown@formal@none@1@S@In his affidavit filed yesterday, Warner's Mr. Ross indicated he isn't buying any such argument: "If Sony succeeds here, no written contract in Hollywood will be worth the paper it's written on.@@@@1@32@@oe@2-2-2013
21635001@unknown@formal@none@1@S@THE SALES PITCH couldn't sound better.@@@@1@6@@oe@2-2-2013
21635002@unknown@formal@none@1@S@First, there's the name: "asset-backed securities."@@@@1@6@@oe@2-2-2013
21635003@unknown@formal@none@1@S@Better than all those offers you get to buy securities backed by nothing.@@@@1@13@@oe@2-2-2013
21635004@unknown@formal@none@1@S@And there's more.@@@@1@3@@oe@2-2-2013
21635005@unknown@formal@none@1@S@The assets backing the securities come from some of the country's biggest -- and most secure -- institutions.@@@@1@18@@oe@2-2-2013
21635006@unknown@formal@none@1@S@Most earn high ratings from credit agencies.@@@@1@7@@oe@2-2-2013
21635007@unknown@formal@none@1@S@Their yields are higher than those of U.S. Treasury issues.@@@@1@10@@oe@2-2-2013
21635008@unknown@formal@none@1@S@And the booming market has already attracted many of the nation's biggest institutional investors.@@@@1@14@@oe@2-2-2013
21635009@unknown@formal@none@1@S@Ready to jump?@@@@1@3@@oe@2-2-2013
21635010@unknown@formal@none@1@S@Well, think twice.@@@@1@3@@oe@2-2-2013
21635011@unknown@formal@none@1@S@The concept may be simple: Take a bunch of loans, tie them up in one neat package, and sell pieces of the package to investors.@@@@1@25@@oe@2-2-2013
21635012@unknown@formal@none@1@S@But the simplicity may be misleading.@@@@1@6@@oe@2-2-2013
21635013@unknown@formal@none@1@S@Skeptics say the slightly higher returns aren't enough to compensate for the extra risk.@@@@1@14@@oe@2-2-2013
21635014@unknown@formal@none@1@S@They warn that asset-backed securities are only as good as the assets and credit backing that support them -- and those are hard to evaluate.@@@@1@25@@oe@2-2-2013
21635015@unknown@formal@none@1@S@Moreover, the securities were introduced only about 4 1/2 years ago; the biggest unknown is how they will fare in a recession.@@@@1@22@@oe@2-2-2013
21635016@unknown@formal@none@1@S@"A lot of this stuff really is in untested waters," says Owen Carney, director of the investment securities division of the U.S. comptroller of the currency.@@@@1@26@@oe@2-2-2013
21635017@unknown@formal@none@1@S@"We don't know how this whole market will work in a serious economic downturn."@@@@1@14@@oe@2-2-2013
21635018@unknown@formal@none@1@S@Such concerns, however, haven't stopped asset-backed securities from becoming one of Wall Street's hottest new products.@@@@1@16@@oe@2-2-2013
21635019@unknown@formal@none@1@S@Since the spring of 1985, financial alchemists have transformed a wide variety of debt into these new securities.@@@@1@18@@oe@2-2-2013
21635020@unknown@formal@none@1@S@They have sold issues backed by car loans, boat loans and recreational-vehicle loans.@@@@1@13@@oe@2-2-2013
21635021@unknown@formal@none@1@S@They have offered bundles of homeequity loans, as well as packages of loans used to buy vacation time-shares.@@@@1@18@@oe@2-2-2013
21635022@unknown@formal@none@1@S@Last year, there was an issue of "death-backed bonds" -- securities backed by loans to life-insurance policyholders.@@@@1@17@@oe@2-2-2013
21635023@unknown@formal@none@1@S@Some predict there will be "Third World bonds," backed by loans to Brazil, Argentina and other debt-ridden nations.@@@@1@18@@oe@2-2-2013
21635024@unknown@formal@none@1@S@And the biggest volume this year has been on securities backed by credit-card receivables, sometimes known as "plastic bonds."@@@@1@19@@oe@2-2-2013
21635025@unknown@formal@none@1@S@"This is the heyday of debt," says James Grant, editor of Grant's Interest Rate Observer, a newsletter.@@@@1@17@@oe@2-2-2013
21635026@unknown@formal@none@1@S@"Before the sun sets on the '80s, it seems nothing will be left unhocked."@@@@1@14@@oe@2-2-2013
21635027@unknown@formal@none@1@S@The result is a $45 billion market, according to Securities Data Co.@@@@1@12@@oe@2-2-2013
21635028@unknown@formal@none@1@S@That includes more than $9.5 billion issued through August of this year, up sharply from $6.5 billion in the comparable 1988 period -- and more than in all of 1987.@@@@1@30@@oe@2-2-2013
21635029@unknown@formal@none@1@S@Most issues have been sold to professional money managers, pension funds, bank trust departments and other institutions.@@@@1@17@@oe@2-2-2013
21635030@unknown@formal@none@1@S@But wealthy individuals also have been jumping in, and lately brokers have been pushing smaller investors into the asset-backed market.@@@@1@20@@oe@2-2-2013
21635031@unknown@formal@none@1@S@The entry fee is affordable: Issues typically are sold in minimum denominations of $1,000.@@@@1@14@@oe@2-2-2013
21635032@unknown@formal@none@1@S@"We expect additional offerings" of asset-backed securities targeted toward individual investors, says Bill Addiss, a senior vice president at Shearson Lehman Hutton Inc.@@@@1@23@@oe@2-2-2013
21635033@unknown@formal@none@1@S@The process typically begins when an institution, such as Citibank or Sears, Roebuck & Co., takes a pool of credit-card or other receivables and sells them to a specially created trust.@@@@1@31@@oe@2-2-2013
21635034@unknown@formal@none@1@S@The trust then issues securities -- generally due in five years or less -- that are underwritten by Wall Street brokerage firms and offered to investors.@@@@1@26@@oe@2-2-2013
21635035@unknown@formal@none@1@S@Issues typically come with "credit enhancements," such as a bank letter of credit, and thus have received high credit ratings.@@@@1@20@@oe@2-2-2013
21635036@unknown@formal@none@1@S@Enthusiasts say the booming market has opened up a valuable new source of funds to issuers, while providing a valuable new investment for individuals and institutions.@@@@1@26@@oe@2-2-2013
21635037@unknown@formal@none@1@S@Asset-backed securities "are an attractive investment compared to bank certificates of deposit or other corporate bonds," says Craig J. Goldberg, managing director and head of the asset-backed securities group at Merrill Lynch Capital Markets.@@@@1@34@@oe@2-2-2013
21635038@unknown@formal@none@1@S@But skeptics question whether asset-backed bonds offer sufficient rewards to compensate for the extra risks.@@@@1@15@@oe@2-2-2013
21635039@unknown@formal@none@1@S@Consider a $500 million offering of 9% securities issued last spring and backed by Citibank credit-card receivables.@@@@1@17@@oe@2-2-2013
21635040@unknown@formal@none@1@S@The triple-A-rated issue offered a yield of only about 0.5 percentage point above four-year Treasury issues.@@@@1@16@@oe@2-2-2013
21635041@unknown@formal@none@1@S@On a $10,000 investment, that's a difference of only $50 a year.@@@@1@12@@oe@2-2-2013
21635042@unknown@formal@none@1@S@That kind of spread can be critical for money managers who buy bonds in large quantities and whose livelihood depends on outperforming the money manager across the street.@@@@1@28@@oe@2-2-2013
21635043@unknown@formal@none@1@S@But for individuals who buy much smaller amounts and care less about relative performance than in preserving what they have, that margin is meaningless.@@@@1@24@@oe@2-2-2013
21635044@unknown@formal@none@1@S@"If you're in the bond business playing the relative-performance derby, then even an extra 25 basis points (0.25 percentage point) becomes an important consideration on a career basis," says Mr. Grant.@@@@1@31@@oe@2-2-2013
21635045@unknown@formal@none@1@S@"But if you're an individual investing money and trying to get it back again, then that isn't of overwhelming importance."@@@@1@20@@oe@2-2-2013
21635046@unknown@formal@none@1@S@Moreover, the interest on asset-backed securities is fully taxable, while interest on Treasury issues is tax-free at the state and local level.@@@@1@22@@oe@2-2-2013
21635047@unknown@formal@none@1@S@That's why some investment managers, such as Alex Powers, a vice president of Chase Manhattan Bank's private banking division, don't recommend most asset-backed issues for individuals in high-tax states, such as New York or California.@@@@1@35@@oe@2-2-2013
21635048@unknown@formal@none@1@S@But Mr. Powers has purchased asset-backed issues for individuals with tax-deferred accounts, such as retirement plans.@@@@1@16@@oe@2-2-2013
21635049@unknown@formal@none@1@S@He points out that institutions buying asset-backed issues in large quantities can earn higher spreads over Treasurys than individuals buying smaller amounts.@@@@1@22@@oe@2-2-2013
21635050@unknown@formal@none@1@S@Another concern is liquidity, or how easily a security can be converted into cash.@@@@1@14@@oe@2-2-2013
21635051@unknown@formal@none@1@S@The secondary, or resale, market for asset-backed securities is relatively new and much less active than for Treasury issues.@@@@1@19@@oe@2-2-2013
21635052@unknown@formal@none@1@S@That could make it tricky for investors who need to sell their holdings quickly before the securities mature.@@@@1@18@@oe@2-2-2013
21635053@unknown@formal@none@1@S@That's particularly true, analysts say, for certain of the securities, such as those backed by time-share loans.@@@@1@17@@oe@2-2-2013
21635054@unknown@formal@none@1@S@"You could see massive gyrations here because it's such a thinly traded market," says Jonathan S. Paris, a vice president of European Investors Inc., a New York investment-management firm.@@@@1@29@@oe@2-2-2013
21635055@unknown@formal@none@1@S@In addition, an investor who wants to know the daily value of Treasury bonds, or corporate bonds traded on the New York Stock Exchange, can simply check newspaper listings.@@@@1@29@@oe@2-2-2013
21635056@unknown@formal@none@1@S@There aren't any such listings for asset-backed securities.@@@@1@8@@oe@2-2-2013
21635057@unknown@formal@none@1@S@Evaluating asset-backed securities poses another problem.@@@@1@6@@oe@2-2-2013
21635058@unknown@formal@none@1@S@Investors, for instance, may mistakenly assume that the bank or company that originally held the assets is guaranteeing the securities.@@@@1@20@@oe@2-2-2013
21635059@unknown@formal@none@1@S@It isn't.@@@@1@2@@oe@2-2-2013
21635060@unknown@formal@none@1@S@The front cover of the prospectus for the Citibank credit-card receivables offering points out in bold capital letters that the certificates represent an interest only in the specially created trust and "do not represent interests in or obligations of the banks, Citibank N.A., Citicorp or any affiliate thereof."@@@@1@48@@oe@2-2-2013
21635061@unknown@formal@none@1@S@In other words, if there's a problem, don't expect Citibank to come to the rescue.@@@@1@15@@oe@2-2-2013
21635062@unknown@formal@none@1@S@The prospectus also notes that the securities are not guaranteed by any government agency.@@@@1@14@@oe@2-2-2013
21635063@unknown@formal@none@1@S@That means investors have to focus on the quality of the debt that lies beneath the securities, as well as on the credit enhancement for the issue and the credit ratings the issue has received.@@@@1@35@@oe@2-2-2013
21635064@unknown@formal@none@1@S@That also isn't easy.@@@@1@4@@oe@2-2-2013
21635065@unknown@formal@none@1@S@Take the "credit enhancements," which typically include a bank letter of credit or insurance from a bond-insurance company.@@@@1@18@@oe@2-2-2013
21635066@unknown@formal@none@1@S@The letter of credit typically is not offered by the bank selling the assets to back the securities.@@@@1@18@@oe@2-2-2013
21635067@unknown@formal@none@1@S@Nor does it cover the entire portfolio.@@@@1@7@@oe@2-2-2013
21635068@unknown@formal@none@1@S@Details of credit enhancements vary widely from issue to issue.@@@@1@10@@oe@2-2-2013
21635069@unknown@formal@none@1@S@Still, they play a crucial role in winning top ratings for most asset-backed issues -- which in turn is why the yield above Treasurys is so slim.@@@@1@27@@oe@2-2-2013
21635070@unknown@formal@none@1@S@But skeptics ask why you should bother buying this stuff when you can get only slightly lower yields on government-guaranteed paper.@@@@1@21@@oe@2-2-2013
21635071@unknown@formal@none@1@S@When you buy an asset-backed issue, you take the risk that a bank or an insurer could run into unexpected difficulties.@@@@1@21@@oe@2-2-2013
21635072@unknown@formal@none@1@S@If a bank's credit rating was lowered because of, say, its loans to Third World nations, that could also affect the ratings, liquidity and prices of the asset-backed issues that the bank supports.@@@@1@33@@oe@2-2-2013
21635073@unknown@formal@none@1@S@Underwriters insist these issues are constructed to withstand extremely tough economic conditions.@@@@1@12@@oe@2-2-2013
21635074@unknown@formal@none@1@S@But despite the credit enhancements, despite the high ratings, some money managers still worry that a recession could wreak havoc on the underlying assets.@@@@1@24@@oe@2-2-2013
21635075@unknown@formal@none@1@S@At a time when Americans are leveraged to their eyeballs, asset-backed investors may be taking a heady gamble that consumers will be able to repay loans in hard times.@@@@1@29@@oe@2-2-2013
21635076@unknown@formal@none@1@S@At the very least, a recession would prompt investors to buy the highest-quality bonds they can find -- that is, Treasurys.@@@@1@21@@oe@2-2-2013
21635077@unknown@formal@none@1@S@That could widen the yield spread between Treasurys and asset-backed securities, as well as make it tougher to unload the latter.@@@@1@21@@oe@2-2-2013
21635078@unknown@formal@none@1@S@But it could be much worse.@@@@1@6@@oe@2-2-2013
21635079@unknown@formal@none@1@S@Some analysts are especially wary of credit-card issues.@@@@1@8@@oe@2-2-2013
21635080@unknown@formal@none@1@S@For one thing, credit-card loans are unsecured.@@@@1@7@@oe@2-2-2013
21635081@unknown@formal@none@1@S@In addition, they fear that banks have been overeager to issue cards to the public -- giving cards to too many big spenders who will default during a recession.@@@@1@29@@oe@2-2-2013
21635082@unknown@formal@none@1@S@"A day of reckoning is coming where we think the market will place a high premium on the highest-quality debt issues, and therefore we think the best debt investment is U.S. government bonds," says Craig Corcoran of Davis/Zweig Futures Inc., an investment advisory firm.@@@@1@44@@oe@2-2-2013
21635083@unknown@formal@none@1@S@What about triple-A-rated asset-backed issues?@@@@1@5@@oe@2-2-2013
21635084@unknown@formal@none@1@S@"Nope, we still say to stick with Treasurys," Mr. Corcoran replies.@@@@1@11@@oe@2-2-2013
21635085@unknown@formal@none@1@S@Ratings, he notes, "are subject to change."@@@@1@7@@oe@2-2-2013
21635086@unknown@formal@none@1@S@All this makes asset-backed securities seem too risky for many people.@@@@1@11@@oe@2-2-2013
21635087@unknown@formal@none@1@S@And it reminds Raymond F. DeVoe Jr., a market strategist at Legg Mason Wood Walker Inc., of what he calls "DeVoe's Unprovable but Highly Probable Theory No. 1:@@@@1@28@@oe@2-2-2013
21635088@unknown@formal@none@1@S@"More money has been lost reaching for yield than in all the stock speculations, scams and frauds of all time."@@@@1@20@@oe@2-2-2013
21635089@unknown@formal@none@1@S@Mr. Herman is a staff reporter in The Wall Street Journal's New York bureau.@@@@1@14@@oe@2-2-2013
21635090@unknown@formal@none@1@S@Volume of asset-backed securities issued annually@@@@1@6@@oe@2-2-2013
21635091@unknown@formal@none@1@S@*Principal amount@@@@1@2@@oe@2-2-2013
21635092@unknown@formal@none@1@S@**As of August 30@@@@1@4@@oe@2-2-2013
21635093@unknown@formal@none@1@S@*Principal amount@@@@1@2@@oe@2-2-2013
21635094@unknown@formal@none@1@S@Source: Securities Data Co.@@@@1@4@@oe@2-2-2013
21636001@unknown@formal@none@1@S@IF YOU FORCE financial planners to sum up their most important advice in a single sentence, it would probably be a one-word sentence: Diversify.@@@@1@24@@oe@2-2-2013
21636002@unknown@formal@none@1@S@Judging by a poll of Wall Street Journal readers conducted this summer by Erdos & Morgan Inc., serious investors have taken that advice to heart.@@@@1@25@@oe@2-2-2013
21636003@unknown@formal@none@1@S@Nearly 1,000 investors responded to the Journal's poll, providing an in-depth look at their portfolios.@@@@1@15@@oe@2-2-2013
21636004@unknown@formal@none@1@S@Those portfolios are remarkably diversified.@@@@1@5@@oe@2-2-2013
21636005@unknown@formal@none@1@S@By spreading their wealth among several investment alternatives, the respondents have protected themselves against squalls in any one area, be it stocks, bonds or real estate.@@@@1@26@@oe@2-2-2013
21636006@unknown@formal@none@1@S@For example, about 88% of Journal readers owned stock (down slightly from 91% in a similar poll last year).@@@@1@19@@oe@2-2-2013
21636007@unknown@formal@none@1@S@But only 17.5% said they had more than half their money in the stock market.@@@@1@15@@oe@2-2-2013
21636008@unknown@formal@none@1@S@Similarly, 57% of respondents own shares in a money-market mutual fund, and 33% own municipal bonds.@@@@1@16@@oe@2-2-2013
21636009@unknown@formal@none@1@S@But only 6% to 7% of the investors were committing more than half their funds to either of those alternatives.@@@@1@20@@oe@2-2-2013
21636010@unknown@formal@none@1@S@The poll, conducted Aug. 7-28, also provides a glimpse into the thinking of serious investors on a variety of other topics.@@@@1@21@@oe@2-2-2013
21636011@unknown@formal@none@1@S@It found them in a cautious, but not downbeat, mood.@@@@1@10@@oe@2-2-2013
21636012@unknown@formal@none@1@S@Of 1,500 people sent a questionnaire, 951 replied.@@@@1@8@@oe@2-2-2013
21636013@unknown@formal@none@1@S@The response rate, more than 63%, allows the results to be interpreted with a high degree of confidence.@@@@1@18@@oe@2-2-2013
21636014@unknown@formal@none@1@S@The results can't be extrapolated to all investors, though.@@@@1@9@@oe@2-2-2013
21636015@unknown@formal@none@1@S@Journal readers are relatively affluent, with a median household income of between $75,000 and $99,000.@@@@1@15@@oe@2-2-2013
21636016@unknown@formal@none@1@S@Nearly half of the respondents (47%) said their investment portfolio was worth $250,000 or more, and 17% said it was worth $1 million or more.@@@@1@25@@oe@2-2-2013
21636017@unknown@formal@none@1@S@The respondents were mildly optimistic about the economy and investment markets, but their collective judgments were a notch more sober than they were a year ago.@@@@1@26@@oe@2-2-2013
21636018@unknown@formal@none@1@S@For example, 12% of this year's respondents said they expect a recession within 12 months.@@@@1@15@@oe@2-2-2013
21636019@unknown@formal@none@1@S@Last year, only 8% were expecting a recession.@@@@1@8@@oe@2-2-2013
21636020@unknown@formal@none@1@S@An additional 56% of this year's respondents expect the economy to slow down during the next 12 months.@@@@1@18@@oe@2-2-2013
21636021@unknown@formal@none@1@S@Only 42% of last year's respondents anticipated slowing growth.@@@@1@9@@oe@2-2-2013
21636022@unknown@formal@none@1@S@Apparently, the respondents don't think that an economic slowdown would harm the major investment markets very much.@@@@1@17@@oe@2-2-2013
21636023@unknown@formal@none@1@S@A slim majority (51%) think stock prices will be higher in August 1990 than they were in August 1989.@@@@1@19@@oe@2-2-2013
21636024@unknown@formal@none@1@S@Their verdict on real estate is almost the same.@@@@1@9@@oe@2-2-2013
21636025@unknown@formal@none@1@S@Some 50% expect real estate in their local area to increase in value over the next 12 months.@@@@1@18@@oe@2-2-2013
21636026@unknown@formal@none@1@S@By contrast, only 32% expect an increase in the price of gold.@@@@1@12@@oe@2-2-2013
21636027@unknown@formal@none@1@S@Since gold tends to soar when inflation is high, that finding suggests that people believe inflation remains under control.@@@@1@19@@oe@2-2-2013
21636028@unknown@formal@none@1@S@Even though only 12% actually predicted a recession, many respondents were taking a better-safe-than sorry investment stance.@@@@1@17@@oe@2-2-2013
21636029@unknown@formal@none@1@S@Nearly a third said they have made some portfolio changes to anticipate a possible recession.@@@@1@15@@oe@2-2-2013
21636030@unknown@formal@none@1@S@For the most part, the changes were "slight."@@@@1@8@@oe@2-2-2013
21636031@unknown@formal@none@1@S@The two-thirds who haven't tried to make their portfolios more recession-resistant were split about evenly between investors who "don't believe in trying to predict the markets" (about 31%) and investors who "don't expect a recession" (about 15%) or are "unsure if and when a recession might come" (about 22%).@@@@1@49@@oe@2-2-2013
21636032@unknown@formal@none@1@S@A buy-and-hold approach to stocks continues to be the rule among respondents.@@@@1@12@@oe@2-2-2013
21636033@unknown@formal@none@1@S@Most own two to 10 stocks, and buy or sell no more than three times a year.@@@@1@17@@oe@2-2-2013
21636034@unknown@formal@none@1@S@Some 71% had bought some stock in the past year; only 57% had sold any.@@@@1@15@@oe@2-2-2013
21636035@unknown@formal@none@1@S@But the lurking shadow of 1987's stock-market crash still seems dark.@@@@1@11@@oe@2-2-2013
21636036@unknown@formal@none@1@S@About 33% considered another crash "likely," while about 63% said one is "unlikely."@@@@1@13@@oe@2-2-2013
21636037@unknown@formal@none@1@S@Those percentages hardly changed from the previous year's poll.@@@@1@9@@oe@2-2-2013
21636038@unknown@formal@none@1@S@And the respondents' commitment to the stock market remains somewhat lighter than usual.@@@@1@13@@oe@2-2-2013
21636039@unknown@formal@none@1@S@About 60% of them said they would "ordinarily" have at least 25% of their money in stocks.@@@@1@17@@oe@2-2-2013
21636040@unknown@formal@none@1@S@But as of August, only 50% actually had stock-market investments of that size.@@@@1@13@@oe@2-2-2013
21636041@unknown@formal@none@1@S@Most stock-market indexes were hitting all-time highs at around the time of the poll.@@@@1@14@@oe@2-2-2013
21636042@unknown@formal@none@1@S@But it appears that many Journal readers were taking that news as a sign to be cautious, rather than a signal to jump on the bandwagon.@@@@1@26@@oe@2-2-2013
21636043@unknown@formal@none@1@S@Mr. Dorfman covers investing issues from The Wall Street Journal's New York bureau.@@@@1@13@@oe@2-2-2013
21637001@unknown@formal@none@1@S@Canadian steel ingot production totaled 276,334 metric tons in the week ended Oct. 14, down 5.3% from the preceding week's total of 291,890 tons, Statistics Canada, a federal agency, said.@@@@1@30@@oe@2-2-2013
21637002@unknown@formal@none@1@S@The week's total was down 7.1% from 297,446 tons a year earlier.@@@@1@12@@oe@2-2-2013
21637003@unknown@formal@none@1@S@A metric ton is equal to 2,204.62 pounds.@@@@1@8@@oe@2-2-2013
21637004@unknown@formal@none@1@S@The cumulative total in 1989 was 12,283,217 tons, up 7.5% from 11,429,243 tons a year earlier.@@@@1@16@@oe@2-2-2013
21638001@unknown@formal@none@1@S@Health Care Property Investors Inc. said it acquired three long-term care facilities and one assisted-living facility in a purchase-and-lease transaction valued at $15 million.@@@@1@24@@oe@2-2-2013
21638002@unknown@formal@none@1@S@The real estate investment trust said that it leased the three Florida facilities to National Health Care Affiliates Inc. of Buffalo, N.Y.@@@@1@22@@oe@2-2-2013
21638003@unknown@formal@none@1@S@Health Care Property holds an interest in 139 facilities in 30 states.@@@@1@12@@oe@2-2-2013
21639001@unknown@formal@none@1@S@Moody's Investors Service said it lowered its rating on about $75 million of this Chatsworth, Calif., concern's convertible subordinated debentures, due 2012, to Caa from B2.@@@@1@26@@oe@2-2-2013
21639002@unknown@formal@none@1@S@It said the reduction reflects impaired business prospects and reduced financial flexibility caused by continuing losses at the maker of Winchester disk drives.@@@@1@23@@oe@2-2-2013
21639003@unknown@formal@none@1@S@VALLEY National Corp. --@@@@1@4@@oe@2-2-2013
21639004@unknown@formal@none@1@S@Moody's Investors Service Inc. said it lowered its rating on about $400 million of this bank holding company's senior debt to B2 from Ba3.@@@@1@24@@oe@2-2-2013
21639005@unknown@formal@none@1@S@Moody's said it expects Valley National, of Phoenix, Ariz., to make substantial further provisions against its real-estate portfolio, and that it continues to suffer from the high cost of carrying nonperforming assets, and from high loan-loss provisions.@@@@1@37@@oe@2-2-2013
21640001@unknown@formal@none@1@S@Electronic theft by foreign and industrial spies and disgruntled employees is costing U.S. companies billions and eroding their international competitive advantage.@@@@1@21@@oe@2-2-2013
21640002@unknown@formal@none@1@S@That was the message delivered by government and private security experts at an all-day conference on corporate electronic espionage.@@@@1@19@@oe@2-2-2013
21640003@unknown@formal@none@1@S@"Hostile and even friendly nations routinely steal information from U.S. companies and share it with their own companies," said Noel D. Matchett, a former staffer at the federal National Security Agency and now president of Information Security Inc., Silver Spring, Md.@@@@1@41@@oe@2-2-2013
21640004@unknown@formal@none@1@S@It "may well be" that theft of business data is "as serious a strategic threat to national security" as it is a threat to the survival of victimized U.S. firms, said Michelle Van Cleave, the White House's assistant director for National Security Affairs.@@@@1@43@@oe@2-2-2013
21640005@unknown@formal@none@1@S@The conference was jointly sponsored by the New York Institute of Technology School of Management and the Armed Forces Communications and Electronics Association, a joint industry-government trade group.@@@@1@28@@oe@2-2-2013
21640006@unknown@formal@none@1@S@Any secret can be pirated, the experts said, if it is transmitted over the air.@@@@1@15@@oe@2-2-2013
21640007@unknown@formal@none@1@S@Even rank amateurs can do it if they spend a few thousand dollars for a commercially available microwave receiver with amplifier and a VCR recorder.@@@@1@25@@oe@2-2-2013
21640008@unknown@formal@none@1@S@They need only position themselves near a company's satellite dish and wait.@@@@1@12@@oe@2-2-2013
21640009@unknown@formal@none@1@S@"You can have a dozen competitors stealing your secrets at the same time," Mr. Matchett said, adding: "It's a pretty good bet they won't get caught."@@@@1@26@@oe@2-2-2013
21640010@unknown@formal@none@1@S@The only way to catch an electronic thief, he said, is to set him up with erroneous information.@@@@1@18@@oe@2-2-2013
21640011@unknown@formal@none@1@S@Even though electronic espionage may cost U.S. firms billions of dollars a year, most aren't yet taking precautions, the experts said.@@@@1@21@@oe@2-2-2013
21640012@unknown@formal@none@1@S@By contrast, European firms will spend $150 million this year on electronic security, and are expected to spend $1 billion by 1992.@@@@1@22@@oe@2-2-2013
21640013@unknown@formal@none@1@S@Already many foreign firms, especially banks, have their own cryptographers, conference speakers reported.@@@@1@13@@oe@2-2-2013
21640014@unknown@formal@none@1@S@Still, encrypting corporate communications is only a partial remedy.@@@@1@9@@oe@2-2-2013
21640015@unknown@formal@none@1@S@One expert, whose job is so politically sensitive that he spoke on condition that he wouldn't be named or quoted, said the expected influx of East European refugees over the next few years will greatly increase the chances of computer-maintenance workers, for example, doubling as foreign spies.@@@@1@47@@oe@2-2-2013
21640016@unknown@formal@none@1@S@Moreover, he said, technology now exists for stealing corporate secrets after they've been "erased" from a computer's memory.@@@@1@18@@oe@2-2-2013
21640017@unknown@formal@none@1@S@He said that Oliver North of Iran-Contra notoriety thought he had erased his computer but that the information was later retrieved for congressional committees to read.@@@@1@26@@oe@2-2-2013
21640018@unknown@formal@none@1@S@No personal computer, not even the one on a chief executive's desk, is safe, this speaker noted.@@@@1@17@@oe@2-2-2013
21640019@unknown@formal@none@1@S@W. Mark Goode, president of Micronyx Inc., a Richardson, Texas, firm that makes computer-security products, provided a new definition for Mikhail Gorbachev's campaign for greater openness, known commonly as glasnost.@@@@1@30@@oe@2-2-2013
21640020@unknown@formal@none@1@S@Under Mr. Gorbachev, Mr. Goode said, the Soviets are openly stealing Western corporate communications.@@@@1@14@@oe@2-2-2013
21640021@unknown@formal@none@1@S@He cited the case of a Swiss oil trader who recently put out bids via telex for an oil tanker to pick up a cargo of crude in the Middle East.@@@@1@31@@oe@2-2-2013
21640022@unknown@formal@none@1@S@Among the responses the Swiss trader got was one from the Soviet national shipping company, which hadn't been invited to submit a bid.@@@@1@23@@oe@2-2-2013
21640023@unknown@formal@none@1@S@The Soviets' eavesdropping paid off, however, because they got the contract.@@@@1@11@@oe@2-2-2013
21641001@unknown@formal@none@1@S@The University of Toronto stepped deeper into the contest for Connaught BioSciences Inc. by reaching an unusual agreement with Ciba-Geigy Ltd. and Chiron Corp.@@@@1@24@@oe@2-2-2013
21641002@unknown@formal@none@1@S@The University said the two companies agreed to spend 25 million Canadian dollars ($21.3 million) over 10 years on research at Canadian universities if they are successful in acquiring the vaccine maker.@@@@1@32@@oe@2-2-2013
21641003@unknown@formal@none@1@S@It said $10 million would go to the University of Toronto.@@@@1@11@@oe@2-2-2013
21641004@unknown@formal@none@1@S@Ciba-Geigy and Chiron have made a joint bid of C$866 million for Connaught, and Institut Merieux S.A. of France has made a rival bid of C$942 million.@@@@1@27@@oe@2-2-2013
21641005@unknown@formal@none@1@S@The University is seeking an injunction against the Merieux bid, arguing that Connaught's predecessor company agreed in 1972 that Connaught's ownership wouldn't be transferred to foreigners.@@@@1@26@@oe@2-2-2013
21641006@unknown@formal@none@1@S@The university implied that it would drop its opposition to foreign ownership if Ciba-Geigy and Chiron are successful with their lower bid.@@@@1@22@@oe@2-2-2013
21641007@unknown@formal@none@1@S@It said the new agreement would "replace" the old one that forms the basis of its suit against the Merieux takeover.@@@@1@21@@oe@2-2-2013
21641008@unknown@formal@none@1@S@"Notwithstanding foreign ownership of Connaught, this accord would enhance research and development in Canada," said James Keffer, the university's vice president of research.@@@@1@23@@oe@2-2-2013
21641009@unknown@formal@none@1@S@Ciba-Geigy is a Swiss pharmaceutical company and Chiron is based in Emeryville, Calif.@@@@1@13@@oe@2-2-2013
21641010@unknown@formal@none@1@S@In a statement, Jacques-Francois Martin, director general of Merieux, said the French company is still determined to acquire Connaught.@@@@1@19@@oe@2-2-2013
21641011@unknown@formal@none@1@S@While he didn't comment directly on the pact between Ciba-Geigy and the university, he said Merieux can transfer new products and technologies to Connaught more rapidly than other companies "not currently producing and marketing vaccines {who} can only promise this for some . . . years in the future."@@@@1@49@@oe@2-2-2013
21641012@unknown@formal@none@1@S@In national over-the-counter trading yesterday, Connaught closed at $28.625, up $1.25.@@@@1@11@@oe@2-2-2013
21642001@unknown@formal@none@1@S@Microsoft and other software stocks surged, leading the Nasdaq composite index of over-the-counter stocks to its biggest advance of the year on breathtaking volume.@@@@1@24@@oe@2-2-2013
21642002@unknown@formal@none@1@S@Leading the pack, Microsoft soared 3 3/4, or 4%, to a record price of 84 1/4 on 1.2 million shares.@@@@1@20@@oe@2-2-2013
21642003@unknown@formal@none@1@S@On the other hand, Valley National tumbled 24% after reporting a sizable third-quarter loss.@@@@1@14@@oe@2-2-2013
21642004@unknown@formal@none@1@S@The Nasdaq composite leaped 7.52 points, or 1.6%, to 470.80.@@@@1@10@@oe@2-2-2013
21642005@unknown@formal@none@1@S@Its largest previous rise this year came Aug. 7, when it gained 4.31.@@@@1@13@@oe@2-2-2013
21642006@unknown@formal@none@1@S@The OTC market's largest stocks soared as well, as the Nasdaq 100 Index jumped 10.01, or 2%, to 463.06.@@@@1@19@@oe@2-2-2013
21642007@unknown@formal@none@1@S@The Nasdaq Financial Index rose 5.04, or 1.1%, to 460.33.@@@@1@10@@oe@2-2-2013
21642008@unknown@formal@none@1@S@By comparison, the Dow Jones Industrials and the New York Stock Exchange Composite each rose 1.5%.@@@@1@16@@oe@2-2-2013
21642009@unknown@formal@none@1@S@Volume totaled 173.5 million shares, 30% above this year's average daily turnover on Nasdaq.@@@@1@14@@oe@2-2-2013
21642010@unknown@formal@none@1@S@Among broader Nasdaq industry groups, the utility index gained 18.11 to 761.38.@@@@1@12@@oe@2-2-2013
21642011@unknown@formal@none@1@S@The transportation and insurance sectors each posted gains of 8.59, with the transports finishing at 486.74 and the insurers at 537.91.@@@@1@21@@oe@2-2-2013
21642012@unknown@formal@none@1@S@The Nasdaq industrial index climbed 8.17 to 458.52, and the "other finance" index, made up of commercial banks and real estate and brokerage firms, rose 3.97 to 545.96.@@@@1@28@@oe@2-2-2013
21642013@unknown@formal@none@1@S@The index of smaller banks improved 1.97.@@@@1@7@@oe@2-2-2013
21642014@unknown@formal@none@1@S@Of the 4,346 issues that changed hands, 1,435 rose and 629 fell.@@@@1@12@@oe@2-2-2013
21642015@unknown@formal@none@1@S@Jeremiah Mullins, head of OTC trading at Dean Witter Reynolds, said both institutional and retail investors were buying.@@@@1@18@@oe@2-2-2013
21642016@unknown@formal@none@1@S@But there was a dearth of sellers, traders said, so buyers had to bid prices up to entice them.@@@@1@19@@oe@2-2-2013
21642017@unknown@formal@none@1@S@"There's no pressure on OTC stocks at this point," said Mr. Mullins, who said some buyers are beginning to shop among smaller OTC issues.@@@@1@24@@oe@2-2-2013
21642018@unknown@formal@none@1@S@Microsoft's surge followed a report this week of substantially improved earnings for its first quarter, ended Sept. 30.@@@@1@18@@oe@2-2-2013
21642019@unknown@formal@none@1@S@The stock was trading at 69 just two weeks ago.@@@@1@10@@oe@2-2-2013
21642020@unknown@formal@none@1@S@Rick Sherlund, a Goldman Sachs analyst, has raised his earnings estimates for the company twice in the past two weeks, citing improved margins.@@@@1@23@@oe@2-2-2013
21642021@unknown@formal@none@1@S@After the earnings were announced, he raised his fiscal 1990 estimate to between $3.80 and $4 a share.@@@@1@18@@oe@2-2-2013
21642022@unknown@formal@none@1@S@Microsoft earned $3.03 a share in fiscal 1989.@@@@1@8@@oe@2-2-2013
21642023@unknown@formal@none@1@S@Among other software issues, Autodesk jumped 1 1/4 to 42, Lotus Development was unchanged at 32 1/2, Novell jumped 7/8 to 30 3/4, Ashton-Tate gained 1/4 to 10 5/8, and Oracle Systems rose 3/4 to 25 3/4.@@@@1@37@@oe@2-2-2013
21642024@unknown@formal@none@1@S@Caere, a new software issue, surged from its offering price of 12 to close at 16 1/8.@@@@1@17@@oe@2-2-2013
21642025@unknown@formal@none@1@S@The company also makes optical character recognition equipment.@@@@1@8@@oe@2-2-2013
21642026@unknown@formal@none@1@S@Caere was underwritten by Alex. Brown & Sons.@@@@1@8@@oe@2-2-2013
21642027@unknown@formal@none@1@S@Another recently offered Alex. Brown issue, Rally's, surged 3 1/8 to 23.@@@@1@12@@oe@2-2-2013
21642028@unknown@formal@none@1@S@The operator of fast-food restaurants, whose shares began trading last Friday, climbed 3 1/8 to 23 on 944,000 shares.@@@@1@19@@oe@2-2-2013
21642029@unknown@formal@none@1@S@Its 1.7 million-share offering was priced at 15.@@@@1@8@@oe@2-2-2013
21642030@unknown@formal@none@1@S@Valley National's slide of 5 3/4 points to 18 1/2 on 4.2 million shares followed its report late Wednesday of a $72.2 million third-quarter loss.@@@@1@25@@oe@2-2-2013
21642031@unknown@formal@none@1@S@In the 1988 quarter, the Phoenix, Ariz., commercial banking concern earned $18.7 million.@@@@1@13@@oe@2-2-2013
21642032@unknown@formal@none@1@S@Valley National said its $110 million provision for credit losses and $11 million provision for other real estate owned is related to weakness in the Arizona real estate market.@@@@1@29@@oe@2-2-2013
21642033@unknown@formal@none@1@S@Additionally, Moody's Investors Service said it downgraded Valley National's senior debt and confirmed the company's commercial paper rating of "not prime."@@@@1@21@@oe@2-2-2013
21642034@unknown@formal@none@1@S@A new issue, Exabyte, surged 2 1/8 from its initial offering price to close at 12 1/8.@@@@1@17@@oe@2-2-2013
21642035@unknown@formal@none@1@S@The offering was for about 2.8 million shares of the data storage equipment maker; more than 2.2 million shares changed hands after trading began.@@@@1@24@@oe@2-2-2013
21642036@unknown@formal@none@1@S@Dell Computer dropped 7/8 to 6.@@@@1@6@@oe@2-2-2013
21642037@unknown@formal@none@1@S@The company said earnings for the year ending Jan. 28, 1990, are expected to be 25 to 35 cents a share, compared with a previous estimate of 50 to 60 cents a share.@@@@1@33@@oe@2-2-2013
21642038@unknown@formal@none@1@S@Nutmeg Industries lost 1 3/4 to 14.@@@@1@7@@oe@2-2-2013
21642039@unknown@formal@none@1@S@Raymond James & Associates in St. Petersburg, Fla., lowered its third-quarter earnings estimate for the company, according to Dow Jones Professional Investor Report.@@@@1@23@@oe@2-2-2013
21642040@unknown@formal@none@1@S@A.P. Green Industries advanced 1 5/8 to 36 1/8.@@@@1@9@@oe@2-2-2013
21642041@unknown@formal@none@1@S@East Rock Partners, which has indicated it might make a bid for the company, said A.P. Green, a refractory products maker, told the partnership it isn't for sale.@@@@1@28@@oe@2-2-2013
21643001@unknown@formal@none@1@S@Row 21 of Section 9 of the Upper Reserved at Candlestick Park is a lofty perch, only a few steps from the very top of the stands.@@@@1@27@@oe@2-2-2013
21643002@unknown@formal@none@1@S@From my orange seat, I looked over the first-base line and the new-mown ball field in the warm sun of the last few minutes before what was to have been the third game of the World Series.@@@@1@37@@oe@2-2-2013
21643003@unknown@formal@none@1@S@It was five in the afternoon, but that was Pacific time.@@@@1@11@@oe@2-2-2013
21643004@unknown@formal@none@1@S@Back in New York the work day was already over, so I didn't have to feel guilty.@@@@1@17@@oe@2-2-2013
21643005@unknown@formal@none@1@S@Even still, I did feel self-indulgent, and I couldn't help remembering my father's contempt for a rich medical colleague who would go to watch the Tigers on summer afternoons.@@@@1@29@@oe@2-2-2013
21643006@unknown@formal@none@1@S@This ballpark, the Stick, was not a classic baseball stadium -- too symmetrical, too much bald concrete.@@@@1@17@@oe@2-2-2013
21643007@unknown@formal@none@1@S@And it didn't have the crowded wild intimacy of Yankee Stadium.@@@@1@11@@oe@2-2-2013
21643008@unknown@formal@none@1@S@But I liked the easy friendliness of the people around me, liked it that they'd brought their children, found it charming that, true citizens of the state of the future, they had brought so many TVs and radios to stay in touch with electroreality at a live event.@@@@1@48@@oe@2-2-2013
21643009@unknown@formal@none@1@S@Maybe it was their peculiar sense of history.@@@@1@8@@oe@2-2-2013
21643010@unknown@formal@none@1@S@The broadcasters were, after all, documenting the game, ratifying its occurrence for millions outside the Stick.@@@@1@16@@oe@2-2-2013
21643011@unknown@formal@none@1@S@Why not watch or hear your experience historicized while you were living it?@@@@1@13@@oe@2-2-2013
21643012@unknown@formal@none@1@S@The day was saturated with the weight of its own impending history.@@@@1@12@@oe@2-2-2013
21643013@unknown@formal@none@1@S@Long lines of people waited to buy special souvenir World Series postcards with official postmarks.@@@@1@15@@oe@2-2-2013
21643014@unknown@formal@none@1@S@Thousands of us had paid $5 for the official souvenir book with its historical essays on Series trivia, its historical photographs of great moments in Series past, and its instructions, in English and Spanish, for filling in the scorecard.@@@@1@39@@oe@2-2-2013
21643015@unknown@formal@none@1@S@Pitcher=lanzador.@@@@1@1@@oe@2-2-2013
21643016@unknown@formal@none@1@S@Homerun=jonron.@@@@1@1@@oe@2-2-2013
21643017@unknown@formal@none@1@S@Players ran out on the field way below, and the stands began to reverberate.@@@@1@14@@oe@2-2-2013
21643018@unknown@formal@none@1@S@It must be a local custom, I thought, stamping feet to welcome the team.@@@@1@14@@oe@2-2-2013
21643019@unknown@formal@none@1@S@But then the noise turned into a roar.@@@@1@8@@oe@2-2-2013
21643020@unknown@formal@none@1@S@And no one was shouting.@@@@1@5@@oe@2-2-2013
21643021@unknown@formal@none@1@S@No one around me was saying anything.@@@@1@7@@oe@2-2-2013
21643022@unknown@formal@none@1@S@Because we all were busy riding a wave.@@@@1@8@@oe@2-2-2013
21643023@unknown@formal@none@1@S@Sixty thousand surfers atop a concrete wall, waiting for the wipeout.@@@@1@11@@oe@2-2-2013
21643024@unknown@formal@none@1@S@Only at the moment of maximum roll did I grasp what was going on.@@@@1@14@@oe@2-2-2013
21643025@unknown@formal@none@1@S@Then I remembered the quake of '71, which I experienced in Santa Barbara in a second-story motel room.@@@@1@18@@oe@2-2-2013
21643026@unknown@formal@none@1@S@When the swaying of the building woke me up, I reasoned that a) I was in Southern California; b) the bed was moving; c) it must be a Magic Fingers bed that had short-circuited.@@@@1@34@@oe@2-2-2013
21643027@unknown@formal@none@1@S@Then I noticed the overhead light was swaying on its cord and realized what had happened.@@@@1@16@@oe@2-2-2013
21643028@unknown@formal@none@1@S@What should I do?@@@@1@4@@oe@2-2-2013
21643029@unknown@formal@none@1@S@Get out of the possibly collapsing building to the parking lot.@@@@1@11@@oe@2-2-2013
21643030@unknown@formal@none@1@S@But the lot might split into crevasses, so I had better stand on my car, which probably was wider than the average crevasse.@@@@1@23@@oe@2-2-2013
21643031@unknown@formal@none@1@S@Fortunately, the quake was over before I managed to run out and stand naked on the hood.@@@@1@17@@oe@2-2-2013
21643032@unknown@formal@none@1@S@At the Stick, while the world shook, I thought of that morning and then it struck me that this time was different.@@@@1@22@@oe@2-2-2013
21643033@unknown@formal@none@1@S@If I survived, I would have achieved every journalist's highest wish.@@@@1@11@@oe@2-2-2013
21643034@unknown@formal@none@1@S@I was an eyewitness of the most newsworthy event on the planet at that moment.@@@@1@15@@oe@2-2-2013
21643035@unknown@formal@none@1@S@What was my angle?@@@@1@4@@oe@2-2-2013
21643036@unknown@formal@none@1@S@How would I file?@@@@1@4@@oe@2-2-2013
21643037@unknown@formal@none@1@S@All these thoughts raced through my head in the 15 seconds of the earthquake's actual duration.@@@@1@16@@oe@2-2-2013
21643038@unknown@formal@none@1@S@The rest is, of course, history.@@@@1@6@@oe@2-2-2013
21643039@unknown@formal@none@1@S@The Stick didn't fall.@@@@1@4@@oe@2-2-2013
21643040@unknown@formal@none@1@S@The real tragedies occurred elsewhere, as we soon found out.@@@@1@10@@oe@2-2-2013
21643041@unknown@formal@none@1@S@But for a few minutes there, relief abounded.@@@@1@8@@oe@2-2-2013
21643042@unknown@formal@none@1@S@A young mother found her boy, who had been out buying a hotdog.@@@@1@13@@oe@2-2-2013
21643043@unknown@formal@none@1@S@The wall behind me was slightly deformed, but the center had held.@@@@1@12@@oe@2-2-2013
21643044@unknown@formal@none@1@S@And most of us waited for a while for the game to start.@@@@1@13@@oe@2-2-2013
21643045@unknown@formal@none@1@S@Then we began to file out, to wait safely on terra firma for the opening pitch.@@@@1@16@@oe@2-2-2013
21643046@unknown@formal@none@1@S@It was during the quiet exodus down the pristine concrete ramps of the Stick that I really understood the point of all those Walkmen and Watchmen.@@@@1@26@@oe@2-2-2013
21643047@unknown@formal@none@1@S@The crowd moved in clumps, clumps magnetized around an electronic nucleus.@@@@1@11@@oe@2-2-2013
21643048@unknown@formal@none@1@S@In this way, while the Stick itself was blacked out, we kept up to date on events.@@@@1@17@@oe@2-2-2013
21643049@unknown@formal@none@1@S@Within 15 minutes of the quake itself, I was able to see pictures of the collapsed section of the Bay Bridge.@@@@1@21@@oe@2-2-2013
21643050@unknown@formal@none@1@S@Increasingly accurate estimates of the severity of the quake became available before I got to my car.@@@@1@17@@oe@2-2-2013
21643051@unknown@formal@none@1@S@And by then, expensive automobile sound systems were keeping the gridlocked parking lot by the bay informed about the fire causing the big black plume of smoke we saw on the northern horizon.@@@@1@33@@oe@2-2-2013
21643052@unknown@formal@none@1@S@Darkness fell.@@@@1@2@@oe@2-2-2013
21643053@unknown@formal@none@1@S@But the broadcasts continued through the blacked-out night, with pictures of the sandwiched highway ganglion in Oakland and firefighting in the Marina district.@@@@1@23@@oe@2-2-2013
21643054@unknown@formal@none@1@S@By then, our little sand village of cars had been linked with a global village of listeners and viewers.@@@@1@19@@oe@2-2-2013
21643055@unknown@formal@none@1@S@Everyone at the Stick that day had started out as a spectator and ended up as a participant.@@@@1@18@@oe@2-2-2013
21643056@unknown@formal@none@1@S@In fact, the entire population of the Bay Area had ended up with this dual role of actor and audience.@@@@1@20@@oe@2-2-2013
21643057@unknown@formal@none@1@S@The reporters were victims and some of the victims turned into unofficial reporters.@@@@1@13@@oe@2-2-2013
21643058@unknown@formal@none@1@S@The outstanding example of this was the motorist on the Bay Bridge who had the presence of mind to take out a video camera at the absolutely crucial moment and record the car in front as it fell into the gap in the roadway.@@@@1@44@@oe@2-2-2013
21643059@unknown@formal@none@1@S@The tape was on tv before the night was out.@@@@1@10@@oe@2-2-2013
21643060@unknown@formal@none@1@S@Marshall McLuhan, you should have been there at that hour.@@@@1@10@@oe@2-2-2013
21644001@unknown@formal@none@1@S@Investors who received Shearson Lehman Hutton Inc.'s latest stock commentary may be left with blank expressions.@@@@1@16@@oe@2-2-2013
21644002@unknown@formal@none@1@S@The first 10 pages of the 76-page Weekly Portfolio Perspective are completely blank, except for the page numbers.@@@@1@18@@oe@2-2-2013
21644003@unknown@formal@none@1@S@Rather than printing devils, Shearson puts all the blame on the unpredictable stock market.@@@@1@14@@oe@2-2-2013
21644004@unknown@formal@none@1@S@The plunge made Shearson's market commentary instantly out of date.@@@@1@10@@oe@2-2-2013
21644005@unknown@formal@none@1@S@In fact, last Friday's 190.58-point tumble in the stock market caught many people and businesses by surprise, not the least of them brokerage firms such as Shearson that print their weekly market commentaries on Fridays for dissemination the following week.@@@@1@40@@oe@2-2-2013
21644006@unknown@formal@none@1@S@Shearson, a 62%-owned unit of American Express Co., didn't have enough time to update its market commentary so, "We decided to kill our strategy pieces," says Jack Rivkin, the head of Shearson's research department.@@@@1@34@@oe@2-2-2013
21644007@unknown@formal@none@1@S@The first thought some investors had was that a red-faced Shearson must have been wildly bullish on stocks in its original commentary, and that's why it purged its pages.@@@@1@29@@oe@2-2-2013
21644008@unknown@formal@none@1@S@Investors recalled that Shearson last week had been advising that "the market is still exhibiting all the signs of a further advance."@@@@1@22@@oe@2-2-2013
21644009@unknown@formal@none@1@S@Many other brokerage firms had similarly bullish views.@@@@1@8@@oe@2-2-2013
21644010@unknown@formal@none@1@S@But Mr. Rivkin insists that the 10 pages weren't pulled because they were too bullish.@@@@1@15@@oe@2-2-2013
21644011@unknown@formal@none@1@S@Instead, he says, "they were cautious, and that wasn't the message we wanted to deliver" on Monday.@@@@1@17@@oe@2-2-2013
21644012@unknown@formal@none@1@S@As Mr. Rivkin explains it, "We were raising some caution flags about rate rises in Europe and concerns about the LBO market.@@@@1@22@@oe@2-2-2013
21644013@unknown@formal@none@1@S@And by late Friday afternoon, actually after the close, we decided that was the wrong tone to take.@@@@1@18@@oe@2-2-2013
21644014@unknown@formal@none@1@S@With the market down, we wanted to tell people to put their orders in on the opening."@@@@1@17@@oe@2-2-2013
21644015@unknown@formal@none@1@S@Both before and after the Friday plunge, Shearson has maintained a recommended portfolio weighting of 65% stocks, 20% bonds and 15% cash.@@@@1@22@@oe@2-2-2013
21645001@unknown@formal@none@1@S@Sheldon B. Lubar, chairman of Lubar & Co., and John L. Murray, chairman of Universal Foods Corp., were elected to the board of this engine maker.@@@@1@26@@oe@2-2-2013
21645002@unknown@formal@none@1@S@They succeed Robert W. Kasten and John R. Parker, who reached the mandatory retirement age.@@@@1@15@@oe@2-2-2013
21646001@unknown@formal@none@1@S@China's slide toward recession is beginning to look like a free fall.@@@@1@12@@oe@2-2-2013
21646002@unknown@formal@none@1@S@In a report on China's foundering economy, the official State Statistical Bureau disclosed that industrial output last month rose 0.9% from a year earlier-the lowest growth rate in a decade for September.@@@@1@32@@oe@2-2-2013
21646003@unknown@formal@none@1@S@Retail sales are plummeting, while consumer prices still are rising.@@@@1@10@@oe@2-2-2013
21646004@unknown@formal@none@1@S@Chinese and foreign economists now predict prolonged stagflation: low growth and high inflation.@@@@1@13@@oe@2-2-2013
21646005@unknown@formal@none@1@S@"The economy is crashing hard," says an Asian economist in Beijing.@@@@1@11@@oe@2-2-2013
21646006@unknown@formal@none@1@S@"The slowdown is taking hold a lot more quickly and devastatingly than anyone had expected."@@@@1@15@@oe@2-2-2013
21646007@unknown@formal@none@1@S@A lengthy recession, if it materializes, would drain state coffers and create severe hardships for urban workers.@@@@1@17@@oe@2-2-2013
21646008@unknown@formal@none@1@S@Experts predict the coming year will be characterized by flat or negative industrial growth, rising unemployment and a widening budget deficit.@@@@1@21@@oe@2-2-2013
21646009@unknown@formal@none@1@S@Unless the government suddenly reverses course, wages for most workers won't keep pace with inflation, creating a potential source of urban unrest.@@@@1@22@@oe@2-2-2013
21646010@unknown@formal@none@1@S@The economy's slowdown is due only partly to the austerity program launched in September 1988 to cool an overheated economy and tame inflation.@@@@1@23@@oe@2-2-2013
21646011@unknown@formal@none@1@S@(Industrial output surged 21% in 1988, while inflation peaked last February at nearly 30%.)@@@@1@14@@oe@2-2-2013
21646012@unknown@formal@none@1@S@The slowdown also results from chronic energy and raw-materials shortages that force many factories to restrict operations to two or three days a week.@@@@1@24@@oe@2-2-2013
21646013@unknown@formal@none@1@S@In Western, market-driven countries, recessions often have a bright side: prodding the economy to greater efficiency.@@@@1@16@@oe@2-2-2013
21646014@unknown@formal@none@1@S@In China, however, there isn't likely to be any silver lining because the economy remains guided primarily by the state.@@@@1@20@@oe@2-2-2013
21646015@unknown@formal@none@1@S@Instead, China is likely to shell out ever-greater subsidies to its coddled state-run enterprises, which ate up $18 billion in bailouts last year.@@@@1@23@@oe@2-2-2013
21646016@unknown@formal@none@1@S@Nor are any of these inefficient monoliths likely to be allowed to go bankrupt.@@@@1@14@@oe@2-2-2013
21646017@unknown@formal@none@1@S@Rather, the brunt of the slowdown will be felt in the fast-growing private and semi-private "township" enterprises, which have fallen into disfavor as China's leaders re-emphasize an orthodox Marxist preference for public ownership.@@@@1@33@@oe@2-2-2013
21646018@unknown@formal@none@1@S@"When the going gets rough, China penalizes the efficient and rewards the incompetent," says a Western economist.@@@@1@17@@oe@2-2-2013
21646019@unknown@formal@none@1@S@Reports of an economy near recession come as officials prepare a major Communist Party plenum for sometime in the next few weeks.@@@@1@22@@oe@2-2-2013
21646020@unknown@formal@none@1@S@The meeting is expected to call for heightened austerity for two years.@@@@1@12@@oe@2-2-2013
21646021@unknown@formal@none@1@S@But with industrial growth stagnant and inflation showing signs of easing, some voices may call for measures to pump new life into the economy.@@@@1@24@@oe@2-2-2013
21646022@unknown@formal@none@1@S@Some analysts believe China soon will begin relaxing economic controls, particularly by loosening credit.@@@@1@14@@oe@2-2-2013
21646023@unknown@formal@none@1@S@That would benefit Chinese enterprises as well as Sino-foreign joint ventures, both of which have been plagued by shortages of working capital.@@@@1@22@@oe@2-2-2013
21646024@unknown@formal@none@1@S@A dangerous buildup this year of billions of dollars in inter-company debts threatens, if unchecked, to bring the economy to a collapse.@@@@1@22@@oe@2-2-2013
21646025@unknown@formal@none@1@S@One sign of a possible easing of credit policy was the decision this week of People's Bank of China, the central bank, to allocate $5.4 billion in short-term loans to pay farmers for the autumn harvest, the official China Daily reported.@@@@1@41@@oe@2-2-2013
21646026@unknown@formal@none@1@S@But while pumping more money into the economy would bring relief to many industries, it also runs the risk of triggering another period of runaway growth and steep inflation.@@@@1@29@@oe@2-2-2013
21646027@unknown@formal@none@1@S@The cycle has been repeated several times since China began reforming its planned economy in 1979.@@@@1@16@@oe@2-2-2013
21646028@unknown@formal@none@1@S@And, because China's leaders have abandoned plans to drastically reform the economy, it is likely to continue, analysts say.@@@@1@19@@oe@2-2-2013
21646029@unknown@formal@none@1@S@The statistical bureau's report, cited in China Daily, notes that industrial output in September totaled $29.4 billion, a rise of just 0.9% from a year earlier.@@@@1@26@@oe@2-2-2013
21646030@unknown@formal@none@1@S@Output declined in several provinces, including Jiangsu and Zhejiang, two key coastal areas, and Sichuan, the nation's agricultural breadbasket.@@@@1@19@@oe@2-2-2013
21646031@unknown@formal@none@1@S@Production in Shanghai, China's industrial powerhouse and the largest source of tax revenue for the central government, fell 1.8% for the month.@@@@1@22@@oe@2-2-2013
21646032@unknown@formal@none@1@S@Nationwide, output of light industrial products declined 1.8% -- "the first decline in 10 years," a bureau spokesman told China Daily.@@@@1@21@@oe@2-2-2013
21646033@unknown@formal@none@1@S@In an unusually direct statement, the bureau spokesman recommended that state banks extend more credit to shopkeepers so that they can purchase manufacturers' goods.@@@@1@24@@oe@2-2-2013
21646034@unknown@formal@none@1@S@"This will prevent a slide in industrial production, which will otherwise cause new panic buyings," the spokesman said.@@@@1@18@@oe@2-2-2013
21647001@unknown@formal@none@1@S@The 1986 tax overhaul, the biggest achievement of President Reagan's second term, is beginning to fall apart, and interest groups are lining up for tax goodies all over Capitol Hill.@@@@1@30@@oe@2-2-2013
21647002@unknown@formal@none@1@S@Real-estate executives are lobbying to ease anti-tax-shelter rules.@@@@1@8@@oe@2-2-2013
21647003@unknown@formal@none@1@S@Charitable groups are trying to reinstate the write-off for contributions made by individuals who don't itemize their deductions.@@@@1@18@@oe@2-2-2013
21647004@unknown@formal@none@1@S@Big auction houses want to make collectibles eligible for lower capital-gains taxes.@@@@1@12@@oe@2-2-2013
21647005@unknown@formal@none@1@S@And heavy-industry lobbyists are quietly discussing the possibility of reinstating the investment tax credit.@@@@1@14@@oe@2-2-2013
21647006@unknown@formal@none@1@S@"Everything is up for grabs," says Theodore Groom, a lobbyist for mutual life-insurance companies.@@@@1@14@@oe@2-2-2013
21647007@unknown@formal@none@1@S@Adds Robert Juliano, the head lobbyist for a variety of interests that want to protect the tax deduction for travel and entertainment expenses: "It appears as though the whole thing is wide open again."@@@@1@34@@oe@2-2-2013
21647008@unknown@formal@none@1@S@The catalyst has been the congressional move to restore preferential tax treatment for capital gains, an effort that is likely to succeed in this Congress.@@@@1@25@@oe@2-2-2013
21647009@unknown@formal@none@1@S@Other fundamental "reforms" of the 1986 act have been threatened as well.@@@@1@12@@oe@2-2-2013
21647010@unknown@formal@none@1@S@The House seriously considered raising the top tax rate paid by individuals with the highest incomes.@@@@1@16@@oe@2-2-2013
21647011@unknown@formal@none@1@S@The Senate Finance Committee voted to expand the deduction for individual retirement accounts, and also to bring back income averaging for farmers, a tax preference that allows income to be spread out over several years.@@@@1@35@@oe@2-2-2013
21647012@unknown@formal@none@1@S@As part of the same bill, the finance panel also voted in favor of billions of dollars in narrow tax breaks for individuals and corporations, in what committee member Sen. David Pryor (D., Ark.) calls a "feeding frenzy" of special-interest legislating.@@@@1@41@@oe@2-2-2013
21647013@unknown@formal@none@1@S@The beneficiaries would range from pineapple growers to rich grandparents to tuxedo-rental shops.@@@@1@13@@oe@2-2-2013
21647014@unknown@formal@none@1@S@To be sure, the full Senate, facing a fast-approaching budget deadline, last Friday stripped away all of the tax breaks that were contained in the Finance Committee bill.@@@@1@28@@oe@2-2-2013
21647015@unknown@formal@none@1@S@But lawmakers of both parties agree that the streamlining was temporary.@@@@1@11@@oe@2-2-2013
21647016@unknown@formal@none@1@S@Other bills will be moving soon that are expected to carry many of the tax cuts, including both the capital-gains and IRA provisions.@@@@1@23@@oe@2-2-2013
21647017@unknown@formal@none@1@S@"There isn't any doubt that the thread of the '86 code has been given a mighty tug," says Rep. Thomas Downey (D., N.Y.).@@@@1@23@@oe@2-2-2013
21647018@unknown@formal@none@1@S@"You'll see the annual unraveling of it."@@@@1@7@@oe@2-2-2013
21647019@unknown@formal@none@1@S@"It's back to tax-give-away time for the select few," says Rep. William Gray of Pennsylvania, the third-ranking Democrat in the House.@@@@1@21@@oe@2-2-2013
21647020@unknown@formal@none@1@S@Referring to the chairmen of the Senate and House tax-writing committees, he adds, "Next year, every special-interest group is going to be there knocking on Lloyd Bentsen's door, on Danny Rostenkowski's door."@@@@1@32@@oe@2-2-2013
21647021@unknown@formal@none@1@S@Many groups aren't waiting that long.@@@@1@6@@oe@2-2-2013
21647022@unknown@formal@none@1@S@Just last week, a House Ways and Means subcommittee held a lengthy meeting to hear the pleas of individual cities, companies and interest groups who want to open their own special loopholes.@@@@1@32@@oe@2-2-2013
21647023@unknown@formal@none@1@S@"It's a Swiss-cheese factory and the cheese smells pretty good," commented one veteran lobbyist who was watching the proceedings.@@@@1@19@@oe@2-2-2013
21647024@unknown@formal@none@1@S@Even lobbyists for heavy industry, one of the interests hit hardest in the 1986 bill, are encouraged.@@@@1@17@@oe@2-2-2013
21647025@unknown@formal@none@1@S@The return of pro-investment tax breaks such as those for capital gains and IRAs "creates more of a mood or a mindset that is helpful for getting better depreciation (write-offs) or investment credits," says Paul Huard, a vice president for the National Association of Manufacturers.@@@@1@45@@oe@2-2-2013
21647026@unknown@formal@none@1@S@Corporate lobbyist Charls Walker is planning a spring conference to discuss what tax changes to make to improve "competitiveness."@@@@1@19@@oe@2-2-2013
21647027@unknown@formal@none@1@S@In reaction to proposed capital-gains legislation, groups are lobbying to make sure they aren't left off the gravy train.@@@@1@19@@oe@2-2-2013
21647028@unknown@formal@none@1@S@Real-estate interests, for example, are protesting an omission in President Bush's capital-gains proposal: It doesn't include real-estate gains.@@@@1@18@@oe@2-2-2013
21647029@unknown@formal@none@1@S@"If there is going to be a tax scheme that contemplates lower treatment of capital gains, they certainly want to be part of it," says real-estate lobbyist Wayne Thevenot of Concord Associates.@@@@1@32@@oe@2-2-2013
21647030@unknown@formal@none@1@S@In the House-passed tax bill, Mr. Thevenot got his wish; real-estate assets are included in the capital-gains provision.@@@@1@18@@oe@2-2-2013
21647031@unknown@formal@none@1@S@But Sotheby's, Christie's and the National Association of Antique Dealers are still trying to get theirs.@@@@1@16@@oe@2-2-2013
21647032@unknown@formal@none@1@S@They have sent a letter to congressional tax-writers asking that gains from the sale of collectibles also be given preferential treatment.@@@@1@21@@oe@2-2-2013
21647033@unknown@formal@none@1@S@"Collectibles should continue to be recognized as capital assets," the letter states.@@@@1@12@@oe@2-2-2013
21647034@unknown@formal@none@1@S@All of this talk is antithetical to the Tax Reform Act of 1986.@@@@1@13@@oe@2-2-2013
21647035@unknown@formal@none@1@S@In exchange for dramatically lower tax rates, the framers of that legislation sought to eliminate most of the exemptions, deductions and credits that gave some taxpayers an advantage over others.@@@@1@30@@oe@2-2-2013
21647036@unknown@formal@none@1@S@The goal was to tax people with roughly equivalent incomes equally, and to eliminate the many shelters that allowed the wealthy to escape taxes.@@@@1@24@@oe@2-2-2013
21647037@unknown@formal@none@1@S@Two of the major ways that tax-writers managed to attain these ends were to scrap the preferential treatment of capital gains and to curtail the use of paper losses, also known as passive losses, that made many tax shelters possible.@@@@1@40@@oe@2-2-2013
21647038@unknown@formal@none@1@S@Many other tax benefits also were swept away.@@@@1@8@@oe@2-2-2013
21647039@unknown@formal@none@1@S@This year Congress, with prodding from President Bush, has been busy trying to put many of these same tax preferences back into the code.@@@@1@24@@oe@2-2-2013
21647040@unknown@formal@none@1@S@It appears likely that, this year or next, some form of capital-gains preference and passive-loss restoration will be enacted.@@@@1@19@@oe@2-2-2013
21647041@unknown@formal@none@1@S@Other tax benefits probably will be restored and created.@@@@1@9@@oe@2-2-2013
21647042@unknown@formal@none@1@S@The main obstacle is finding a way to pay for them.@@@@1@11@@oe@2-2-2013
21647043@unknown@formal@none@1@S@"The '86 act was a fluke.@@@@1@6@@oe@2-2-2013
21647044@unknown@formal@none@1@S@They wanted reform and they got a revolution," says overhaul advocate Rep. Willis Gradison (R., Ohio).@@@@1@16@@oe@2-2-2013
21647045@unknown@formal@none@1@S@So, is the tax code now open game again?@@@@1@9@@oe@2-2-2013
21647046@unknown@formal@none@1@S@Mr. Juliano thinks so.@@@@1@4@@oe@2-2-2013
21647047@unknown@formal@none@1@S@One recent Saturday morning he stayed inside the Capitol monitoring tax-and-budget talks instead of flying to San Francisco for a fund-raiser and then to his hometown of Chicago for the 30th reunion of St. Ignatius High School.@@@@1@37@@oe@2-2-2013
21647048@unknown@formal@none@1@S@"I'm too old to waste a weekend, but that's what I did," the 48-year-old Mr. Juliano moans.@@@@1@17@@oe@2-2-2013
21647049@unknown@formal@none@1@S@"These days, anything can happen.@@@@1@5@@oe@2-2-2013
21648001@unknown@formal@none@1@S@Lufthansa AG said passenger volume climbed 5.2% for the first nine months of 1989 to 15.3 million passengers from 14.5 million passengers in the year-earlier period.@@@@1@26@@oe@2-2-2013
21648002@unknown@formal@none@1@S@The West German national air carrier said cargo volume jumped 12% to 638,000 metric tons from 569,000 tons a year ago.@@@@1@21@@oe@2-2-2013
21648003@unknown@formal@none@1@S@Load factor, or percentage of seats filled, climbed to 67.1% from 66.6%, even though the number of flights rose 6.9% to 215,845 in the first-three quarters.@@@@1@26@@oe@2-2-2013
21648004@unknown@formal@none@1@S@From January through September, the distance flown by Lufthansa airplanes rose 5.6% to 266.2 million kilometers from a year earlier, the company added.@@@@1@23@@oe@2-2-2013
21649001@unknown@formal@none@1@S@Raymond Chandler, in a 1950 letter defending a weak Hemingway book, likened a champion writer to a baseball pitcher.@@@@1@19@@oe@2-2-2013
21649002@unknown@formal@none@1@S@When the champ has lost his stuff, the great mystery novelist wrote, "when he can no longer throw the high hard one, he throws his heart instead.@@@@1@27@@oe@2-2-2013
21649003@unknown@formal@none@1@S@He throws something.@@@@1@3@@oe@2-2-2013
21649004@unknown@formal@none@1@S@He doesn't just walk off the mound and weep."@@@@1@9@@oe@2-2-2013
21649005@unknown@formal@none@1@S@Chandler might have been predicting the course of his own career.@@@@1@11@@oe@2-2-2013
21649006@unknown@formal@none@1@S@His last published novel featuring private detective Philip Marlowe, the inferior "Playback" (1958), at times read almost like a parody of his previous work.@@@@1@24@@oe@2-2-2013
21649007@unknown@formal@none@1@S@When he died in 1959, Chandler left behind four chapters of yet another Marlowe book, "The Poodle Springs Story," which seemed to go beyond parody into something like burlesque.@@@@1@29@@oe@2-2-2013
21649008@unknown@formal@none@1@S@"Champ" Chandler's last pitch, apparently, was a screwball.@@@@1@8@@oe@2-2-2013
21649009@unknown@formal@none@1@S@Now Robert Parker, author of several best sellers featuring Spenser, a contemporary private eye in the Marlowe mold, has with the blessings of the Chandler estate been hired to complete "The Poodle Springs Story."@@@@1@34@@oe@2-2-2013
21649010@unknown@formal@none@1@S@The result, "Poodle Springs" (Putnam's, 288 pages, $18.95) is an entertaining, easy to read and fairly graceful extension of the Marlowe chronicle, full of hard-boiled wisecracks and California color.@@@@1@29@@oe@2-2-2013
21649011@unknown@formal@none@1@S@If it does not quite have Chandler's special magic -- well, at the end, neither did Chandler.@@@@1@17@@oe@2-2-2013
21649012@unknown@formal@none@1@S@As the book begins, a newly wed Marlowe roars into the desert resort of Poodle (a.k.a. Palm) Springs at the wheel of a Cadillac Fleetwood.@@@@1@25@@oe@2-2-2013
21649013@unknown@formal@none@1@S@His bride is the rich and beautiful Linda Loring, a character who also appeared in Chandler's "The Long Goodbye" and "Playback."@@@@1@21@@oe@2-2-2013
21649014@unknown@formal@none@1@S@Philip and Linda move into her mansion and can't keep their hands off each other, even in front of the Hawaiian/Japanese houseman.@@@@1@22@@oe@2-2-2013
21649015@unknown@formal@none@1@S@But the lovebirds have a conflict.@@@@1@6@@oe@2-2-2013
21649016@unknown@formal@none@1@S@He wants to continue being a low-paid private eye, and she wants him to live off the million dollars she's settled on him.@@@@1@23@@oe@2-2-2013
21649017@unknown@formal@none@1@S@That's Chandler's setup.@@@@1@3@@oe@2-2-2013
21649018@unknown@formal@none@1@S@Mr. Parker spins it into a pretty satisfying tale involving Poodle Springs high life, Hollywood low life and various folk who hang their hats in both worlds.@@@@1@27@@oe@2-2-2013
21649019@unknown@formal@none@1@S@The supporting lineup is solid, the patter is amusing and there's even a cameo by Bernie Ohls, the "good cop" of previous Chandler books who still doesn't hesitate to have Marlowe jailed when it suits his purposes.@@@@1@37@@oe@2-2-2013
21649020@unknown@formal@none@1@S@The style throughout bears a strong resemblance to Chandler's prose at its most pared down.@@@@1@15@@oe@2-2-2013
21649021@unknown@formal@none@1@S@All told, Mr. Parker does a better job of making a novel out of this abandoned fragment than anyone might have had a right to expect.@@@@1@26@@oe@2-2-2013
21649022@unknown@formal@none@1@S@But there are grounds for complaint.@@@@1@6@@oe@2-2-2013
21649023@unknown@formal@none@1@S@At one point, the reader is two steps ahead of Marlowe in catching on to a double identity scam -- and Marlowe is supposed to be the pro.@@@@1@28@@oe@2-2-2013
21649024@unknown@formal@none@1@S@More bothersome, there are several apparent anachronisms.@@@@1@7@@oe@2-2-2013
21649025@unknown@formal@none@1@S@Contact lenses, tank tops, prostitutes openly working the streets of Hollywood and the Tequila Sunrise cocktail all seem out of place in the 1950s.@@@@1@24@@oe@2-2-2013
21649026@unknown@formal@none@1@S@A little more care in re-creating Marlowe's universe would have made the book that much more enjoyable.@@@@1@17@@oe@2-2-2013
21649027@unknown@formal@none@1@S@Mr. Nolan is a contributing editor at Los Angeles Magazine.@@@@1@10@@oe@2-2-2013
21650001@unknown@formal@none@1@S@Ko Shioya spent eight years as the editor in chief of the Japanese edition of Reader's Digest.@@@@1@17@@oe@2-2-2013
21650002@unknown@formal@none@1@S@"Japan has been a major importer of foreign information and news," says Mr. Shioya.@@@@1@14@@oe@2-2-2013
21650003@unknown@formal@none@1@S@"But one gets fed up with importing information and news."@@@@1@10@@oe@2-2-2013
21650004@unknown@formal@none@1@S@Mr. Shioya has turned the tables.@@@@1@6@@oe@2-2-2013
21650005@unknown@formal@none@1@S@Today, he is publisher of Business Tokyo magazine, the first English-language business magazine devoted to coverage of Japanese business.@@@@1@19@@oe@2-2-2013
21650006@unknown@formal@none@1@S@After a slick redesign, the two-year-old magazine has been relaunched this month by its parent company, Keizaikai Corp., the Tokyo-based company with interests that include financial services, book publishing and a tourist agency.@@@@1@33@@oe@2-2-2013
21650007@unknown@formal@none@1@S@Printed in the U.S. and carrying the line "The Insider's Japan," Business Tokyo's October cover story was "The World's No. 1 Customer" -- Japanese women.@@@@1@25@@oe@2-2-2013
21650008@unknown@formal@none@1@S@Keizaikai is one of a small but growing band of Japanese companies taking their first steps into American publishing, after making major investments in entertainment, real estate and banking companies here.@@@@1@31@@oe@2-2-2013
21650009@unknown@formal@none@1@S@Japanese concerns have retained a number of publishing consultants and media brokers to study the U.S. market, including the New York-based investment banker Veronis, Suhler & Associates.@@@@1@27@@oe@2-2-2013
21650010@unknown@formal@none@1@S@And they are quietly linking up with U.S. publishing trade groups.@@@@1@11@@oe@2-2-2013
21650011@unknown@formal@none@1@S@"Japanese publishers want to be introduced to the publishing and information industries," said John Veronis, chairman of Veronis Suhler.@@@@1@19@@oe@2-2-2013
21650012@unknown@formal@none@1@S@While there aren't any major deals in the works currently on the scale of Sony Corp.'s recent $3.4 billion agreement to buy Columbia Pictures Entertainment Inc., observers don't rule out a transaction of that size.@@@@1@35@@oe@2-2-2013
21650013@unknown@formal@none@1@S@"The Japanese take the long view." said Mr. Veronis.@@@@1@9@@oe@2-2-2013
21650014@unknown@formal@none@1@S@"It may not be weeks or months, but they are also opportunistic and if they feel comfortable, they will move on a deal," he said.@@@@1@25@@oe@2-2-2013
21650015@unknown@formal@none@1@S@In recent months, three big Tokyo-based publishing concerns -- including Nikkei Business Publications, Nikkei Home (no relation), and Magazine House -- applied for membership in Magazine Publishers of America, which represents almost all U.S. consumer magazines.@@@@1@36@@oe@2-2-2013
21650016@unknown@formal@none@1@S@Japanese involvement in American publishing has been so small to date that magazines such as Business Tokyo are considered groundbreakers.@@@@1@20@@oe@2-2-2013
21650017@unknown@formal@none@1@S@When Keizaikai launched Business Tokyo in 1987, it appealed to a more multinational audience.@@@@1@14@@oe@2-2-2013
21650018@unknown@formal@none@1@S@The magazine was overhauled with the aid of American magazine design gurus Milton Glaser and Walter Bernard, and targets top-level U.S. executives with Japanese and American advertisers.@@@@1@27@@oe@2-2-2013
21650019@unknown@formal@none@1@S@American publishers appear more than ready to do some selling.@@@@1@10@@oe@2-2-2013
21650020@unknown@formal@none@1@S@Susumu Ohara, president of Nihon Keizai Shinbun America Inc., publisher of the Japan Economic Journal, said he receives telephone calls weekly from media bankers on whether his parent company is interested in buying a U.S. consumer or business magazine.@@@@1@39@@oe@2-2-2013
21650021@unknown@formal@none@1@S@"The Japanese are in the early stage right now," said Thomas Kenney, a onetime media adviser for First Boston Corp. who was recently appointed president of Reader's Digest Association's new Magazine Publishing Group.@@@@1@33@@oe@2-2-2013
21650022@unknown@formal@none@1@S@"Before, they were interested in hard assets and they saw magazines as soft.@@@@1@13@@oe@2-2-2013
21650023@unknown@formal@none@1@S@Now they realize magazines are as much a franchise as Nabisco is a franchise.@@@@1@14@@oe@2-2-2013
21651001@unknown@formal@none@1@S@Bell Atlantic Corp. and Southern New England Telecommunications posted strong profit gains for the third quarter, while Nynex Corp., Pacific Telesis Group and U S West Inc. reported earnings declines for the period.@@@@1@33@@oe@2-2-2013
21651002@unknown@formal@none@1@S@Rate settlements in Minnesota and Colorado depressed U S West's third-quarter profit.@@@@1@12@@oe@2-2-2013
21651003@unknown@formal@none@1@S@Denver-based U S West said net income dropped 8.9%, noting that the year-ago quarter included the sale of a building by its BetaWest Properties unit.@@@@1@25@@oe@2-2-2013
21651004@unknown@formal@none@1@S@Revenue dropped 4.3% to $2.3 billion from $2.4 billion, reflecting declines in its consumer-telephone sector, long-distance carrier business and diversified division.@@@@1@21@@oe@2-2-2013
21651005@unknown@formal@none@1@S@Revenue from business-telephone operations grew 3.3% to $618.9 million from $599.4 million a year ago.@@@@1@15@@oe@2-2-2013
21651006@unknown@formal@none@1@S@New telephone lines posted healthy growth.@@@@1@6@@oe@2-2-2013
21651007@unknown@formal@none@1@S@Overall they increased 2.8% to 12.1 million, putting U S West over the 12 million mark for the first time.@@@@1@20@@oe@2-2-2013
21651008@unknown@formal@none@1@S@Business lines increased 3.7% to 3.3 million.@@@@1@7@@oe@2-2-2013
21651009@unknown@formal@none@1@S@"On a truly comparable basis, we've seen modest earnings growth this year from the operations of our company," said Jack MacAllister, chairman and chief executive officer.@@@@1@26@@oe@2-2-2013
21651010@unknown@formal@none@1@S@"The major negative factor was the cumulative impact of regulatory activity over the past two years."@@@@1@16@@oe@2-2-2013
21651011@unknown@formal@none@1@S@He said the company expects to be "on target" with analysts' projections by year end but conceded that the fourth quarter represents "a significant challenge."@@@@1@25@@oe@2-2-2013
21651012@unknown@formal@none@1@S@Expenses in the quarter dropped 11.2% to $664.3 million from $747.7 million a year ago.@@@@1@15@@oe@2-2-2013
21651013@unknown@formal@none@1@S@Yesterday, U S West shares rose 75 cents to close at $71.25 in New York Stock Exchange composite trading.@@@@1@19@@oe@2-2-2013
21651014@unknown@formal@none@1@S@Philadelphia-based Bell Atlantic said net rose 6.5%, aided by strong growth in the network-services business and an increase in the number of new telephone lines.@@@@1@25@@oe@2-2-2013
21651015@unknown@formal@none@1@S@Revenue jumped 5.6% to $2.9 billion from $2.8 billion in the year-ago quarter.@@@@1@13@@oe@2-2-2013
21651016@unknown@formal@none@1@S@Revenue from financial and real-estate services jumped 23% to $177.4 million from $144.1 million a year ago.@@@@1@17@@oe@2-2-2013
21651017@unknown@formal@none@1@S@Network-access revenue from long-distance telephone companies increased 6.4% to $618.6 million.@@@@1@11@@oe@2-2-2013
21651018@unknown@formal@none@1@S@Bell Atlantic added 148,000 new telephone lines in the quarter for a total of 16.9 million.@@@@1@16@@oe@2-2-2013
21651019@unknown@formal@none@1@S@The company said per-share earnings were slightly reduced by the sale of 4.1 million shares of treasury stock to the company's newly formed Employee Stock Ownership Plans.@@@@1@27@@oe@2-2-2013
21651020@unknown@formal@none@1@S@In composite trading on the Big Board, Bell Atlantic closed at $100.625, up $1.50 a share.@@@@1@16@@oe@2-2-2013
21651021@unknown@formal@none@1@S@At Nynex, net slumped 14.8%, primarily because of a continuing strike by 60,000 employees, lower-than-expected profit at its New York Telephone unit and significantly higher taxes and costs.@@@@1@28@@oe@2-2-2013
21651022@unknown@formal@none@1@S@State and local taxes increased to $131.3 million from $99.1 million a year ago.@@@@1@14@@oe@2-2-2013
21651023@unknown@formal@none@1@S@Nynex said expenses rose 4.5% to $2.73 billion from $2.61 billion, a $119 million increase.@@@@1@15@@oe@2-2-2013
21651024@unknown@formal@none@1@S@Most of the higher costs were associated with acquisitions and growth in nonregulated business units, it added.@@@@1@17@@oe@2-2-2013
21651025@unknown@formal@none@1@S@"Our net income isn't where we would want it to be at this point," said William C. Ferguson, chairman and chief executive officer.@@@@1@23@@oe@2-2-2013
21651026@unknown@formal@none@1@S@"This deviation from our past growth patterns is caused largely by lower earnings at New York Telephone."@@@@1@17@@oe@2-2-2013
21651027@unknown@formal@none@1@S@Mr. Ferguson said a continued softness in New York City area's economy and increased competition, particularly in the private-line market, took a heavy toll on earnings.@@@@1@26@@oe@2-2-2013
21651028@unknown@formal@none@1@S@The three-month-old strike at Nynex seriously hurt the installation of new telephone lines in the quarter.@@@@1@16@@oe@2-2-2013
21651029@unknown@formal@none@1@S@Nynex said access lines in service at the end of the quarter were off 18,000 from the previous quarter, which reported an increase of 160,000 new access lines.@@@@1@28@@oe@2-2-2013
21651030@unknown@formal@none@1@S@Revenue rose to $3.31 billion from $3.18 billion, mostly from acquisition of AGS Computers and robust non-regulated businesses.@@@@1@18@@oe@2-2-2013
21651031@unknown@formal@none@1@S@In Big Board composite trading yesterday, Nynex common closed at $81.125, up $1.625.@@@@1@13@@oe@2-2-2013
21651032@unknown@formal@none@1@S@Southern New England Telecommunications, which bolstered its marketing efforts for telephone and non-telephone subsidiaries, reported that net increased 8.1%.@@@@1@19@@oe@2-2-2013
21651033@unknown@formal@none@1@S@Walter H. Monteith Jr., SNET chairman and chief executive officer, said: "Innovative marketing of our products and services contributed to increase revenue."@@@@1@22@@oe@2-2-2013
21651034@unknown@formal@none@1@S@Revenue and sales increased 7.5% to $423.9 million from $394.4 million a year earlier.@@@@1@14@@oe@2-2-2013
21651035@unknown@formal@none@1@S@Yellow pages advertising sales rose 11.8% to $41.2 million.@@@@1@9@@oe@2-2-2013
21651036@unknown@formal@none@1@S@Cost and expenses for the quarter, excluding interest, increased 6.1% to $333.3 million from $314 million the year before.@@@@1@19@@oe@2-2-2013
21651037@unknown@formal@none@1@S@SNET common rose $1.25 to $85.50 a share yesterday in composite trading on the Big Board.@@@@1@16@@oe@2-2-2013
21651038@unknown@formal@none@1@S@San Francisco-based Pacific Telesis said net declined 12.6%, primarily because of regulatory action.@@@@1@13@@oe@2-2-2013
21651039@unknown@formal@none@1@S@Revenue was about flat at $2.4 billion.@@@@1@7@@oe@2-2-2013
21651040@unknown@formal@none@1@S@Revenue was reduced $33 million by three extraordinary items: a California Public Utilities Commission refund for an American Telephone & Telegraph Co. billing adjustment; a provision for productivity sharing to be paid to customers in 1990 and a one-time accrual for a toll settlement with long-distance telephone companies.@@@@1@48@@oe@2-2-2013
21651041@unknown@formal@none@1@S@Excluding the one-time charges, the company would have posted earnings of $298 million, or 73 cents a share.@@@@1@18@@oe@2-2-2013
21651042@unknown@formal@none@1@S@The company also was hurt by a $289 million rate reduction that went into effect in 1989.@@@@1@17@@oe@2-2-2013
21651043@unknown@formal@none@1@S@"This is a good quarter for us in terms of our business fundamentals," said Sam Ginn, chairman and chief executive officer.@@@@1@21@@oe@2-2-2013
21651044@unknown@formal@none@1@S@Pacific Telesis said new telephone lines increased 4.5% for a total of about $13.5 million for the quarter; toll calls increased 9.6% to 807 million and minutes of telephone usage increased to 9.9 billion.@@@@1@34@@oe@2-2-2013
21651045@unknown@formal@none@1@S@In Big Board composite trading yesterday, Pacific Telesis common closed at $45.50, up 87.5 cents.@@@@1@15@@oe@2-2-2013
21651046@unknown@formal@none@1@S@a-Includes a one-time gain of $88.7 million from a commonstock sale by U S West's U S West New Vector Group.@@@@1@21@@oe@2-2-2013
21651047@unknown@formal@none@1@S@b-Includes a $41.3 million gain on the sale of FiberCom.@@@@1@10@@oe@2-2-2013
21652001@unknown@formal@none@1@S@Amoco Corp. said third-quarter net income plunged 39% to $336 million, or 65 cents a share, as gasoline refining and marketing profits lagged substantially behind last year's record level.@@@@1@29@@oe@2-2-2013
21652002@unknown@formal@none@1@S@A charge of $80 million related to projected environmental costs in its refining and marketing operations further depressed results.@@@@1@19@@oe@2-2-2013
21652003@unknown@formal@none@1@S@A spokesman said Amoco completed an environmental analysis last quarter but that no single clean-up project was responsible.@@@@1@18@@oe@2-2-2013
21652004@unknown@formal@none@1@S@In the 1988 third quarter, the Chicago-based oil company earned $552 million, or $1.07 a share.@@@@1@16@@oe@2-2-2013
21652005@unknown@formal@none@1@S@Revenue in the latest quarter rose 12% to $6.6 billion from $5.91 billion.@@@@1@13@@oe@2-2-2013
21652006@unknown@formal@none@1@S@Aside from the special charge, Amoco's results were in line with Wall Street estimates.@@@@1@14@@oe@2-2-2013
21652007@unknown@formal@none@1@S@The company's stock ended at $48.375, up 25 cents in New York Stock Exchange composite trading.@@@@1@16@@oe@2-2-2013
21652008@unknown@formal@none@1@S@Amoco is the first major oil company to report third-quarter results.@@@@1@11@@oe@2-2-2013
21652009@unknown@formal@none@1@S@Analysts expect others to show a similar pattern.@@@@1@8@@oe@2-2-2013
21652010@unknown@formal@none@1@S@Generally in the quarter, overproduction of gasoline and higher crude oil prices pressured profitability.@@@@1@14@@oe@2-2-2013
21652011@unknown@formal@none@1@S@The industry's chemical profits also declined because excess capacity has depressed prices.@@@@1@12@@oe@2-2-2013
21652012@unknown@formal@none@1@S@Gasoline margins may rebound this quarter, some industry officials say, but they believe chemical margins could worsen.@@@@1@17@@oe@2-2-2013
21652013@unknown@formal@none@1@S@American Petrofina Inc., a Dallas-based integrated oil company, yesterday said its third-quarter earnings declined by more than half.@@@@1@18@@oe@2-2-2013
21652014@unknown@formal@none@1@S@Fina blamed lower chemical prices, reduced gasoline margins and refinery maintenance shutdowns.@@@@1@12@@oe@2-2-2013
21652015@unknown@formal@none@1@S@It said net income dropped to $15.1 million, or 98 cents a share, from $35.2 million, or $2.66 a share.@@@@1@20@@oe@2-2-2013
21652016@unknown@formal@none@1@S@Sales rose 2.2% to $711.9 million from $696.1 million.@@@@1@9@@oe@2-2-2013
21652017@unknown@formal@none@1@S@Amoco's refining and marketing profit in the quarter fell to $134 million from $319 million.@@@@1@15@@oe@2-2-2013
21652018@unknown@formal@none@1@S@Chemical earnings declined by one-third to $120 million last year's robust levels.@@@@1@12@@oe@2-2-2013
21652019@unknown@formal@none@1@S@Amoco's domestic oil and natural gas operations recorded a profit of $104 million in the quarter compared with a loss of $5 million, "primarily on the strength of higher crude oil prices," said Chairman Richard M. Morrow.@@@@1@37@@oe@2-2-2013
21652020@unknown@formal@none@1@S@Amoco also sharply boosted natural-gas output, part of it from properties acquired from Tenneco Inc. last year.@@@@1@17@@oe@2-2-2013
21652021@unknown@formal@none@1@S@But foreign exploration and production earnings fell sharply, to $12 million from $95 million.@@@@1@14@@oe@2-2-2013
21652022@unknown@formal@none@1@S@Higher oil prices weren't enough to offset a roughly $20 million charge related to a 10% reduction in Amoco's Canadian work force as well as increased exploration expenses.@@@@1@28@@oe@2-2-2013
21652023@unknown@formal@none@1@S@For the nine months, Amoco said that net income fell to $1.29 billion from $1.69 billion but if unusual items are excluded, operations produced essentially flat results.@@@@1@27@@oe@2-2-2013
21652024@unknown@formal@none@1@S@Revenue rose 12% to $19.93 billion from $17.73 billion.@@@@1@9@@oe@2-2-2013
21653001@unknown@formal@none@1@S@James F. Gero, former chairman and chief executive officer of Varo Inc., and Richard J. Hatchett III, a Dallas investment banker, were elected directors of this medical-products concern, boosting the board to seven members.@@@@1@34@@oe@2-2-2013
21654001@unknown@formal@none@1@S@For retailers, Christmas, not Halloween, promises to be this year's spookiest season.@@@@1@12@@oe@2-2-2013
21654002@unknown@formal@none@1@S@Many retailers fear a price war will erupt if cash-strapped companies such as Campeau Corp. slash tags to spur sales.@@@@1@20@@oe@2-2-2013
21654003@unknown@formal@none@1@S@Concerns about the stock market, doubts about the economy in general and rising competition from catalog companies also haunt store operators.@@@@1@21@@oe@2-2-2013
21654004@unknown@formal@none@1@S@"Profits at Christmas could be under attack for every retailer," asserts Norman Abramson, president and chief operating officer of Clothestime Inc., an off-price chain.@@@@1@24@@oe@2-2-2013
21654005@unknown@formal@none@1@S@Even if there isn't any widespread discounting, the outlook for industry profits isn't good.@@@@1@14@@oe@2-2-2013
21654006@unknown@formal@none@1@S@Management Horizons forecasts a 1.4% profit decline for non-auto retailers this year, after annual drops that averaged 4.5% in 1988 and 1987.@@@@1@22@@oe@2-2-2013
21654007@unknown@formal@none@1@S@"For the last two and a half years, retailing has been in a mild recession," says Carl Steidtmann, chief economist at the Columbus, Ohio, consulting firm.@@@@1@26@@oe@2-2-2013
21654008@unknown@formal@none@1@S@This year, many stores are entering the Christmas season in turmoil: Bonwit Teller and B. Altman parent L.J. Hooker Corp. is operating under Chapter 11 of the federal Bankruptcy Code; B.A.T Industries PLC's healthy Saks Fifth Avenue and Marshall Field's chains are on the auction block; Campeau's Bloomingdale's is also on the block.@@@@1@53@@oe@2-2-2013
21654009@unknown@formal@none@1@S@Industry observers expect a wide divergence in performance.@@@@1@8@@oe@2-2-2013
21654010@unknown@formal@none@1@S@Stores in a state of confusion are likely to fare poorly, and to lose customers to stable chains such as Limited Inc., May Department Stores Co. and Dillard Department Stores Inc., which should do well.@@@@1@35@@oe@2-2-2013
21654011@unknown@formal@none@1@S@"There are going to be very clear winners and very clear losers," says Cynthia Turk, a Touche Ross & Co. retail consultant.@@@@1@22@@oe@2-2-2013
21654012@unknown@formal@none@1@S@Says Mr. Steidtmann: "I'm looking for a bi-polar Christmas."@@@@1@9@@oe@2-2-2013
21654013@unknown@formal@none@1@S@Economists expect general merchandise sales in the fourth quarter to rise 4.5% to 6% from year-ago figures.@@@@1@17@@oe@2-2-2013
21654014@unknown@formal@none@1@S@But Mr. Steidtmann predicts that healthy stores hawking mostly apparel could ring up gains of as much as 25% to 30%.@@@@1@21@@oe@2-2-2013
21654015@unknown@formal@none@1@S@Troubled chains could see their sales drop as much as 8%, he believes, as managers distracted by fears about the future allow their stores to get sloppy.@@@@1@27@@oe@2-2-2013
21654016@unknown@formal@none@1@S@Thin merchandise selections at the most troubled chains are also expected to hurt sales.@@@@1@14@@oe@2-2-2013
21654017@unknown@formal@none@1@S@Catalog companies are likely to pose a bigger threat to all stores this year, particularly in December.@@@@1@17@@oe@2-2-2013
21654018@unknown@formal@none@1@S@More than 200 catalog outfits are promoting a low-cost Federal Express service that guarantees pre-Christmas delivery of orders made by a certain date.@@@@1@23@@oe@2-2-2013
21654019@unknown@formal@none@1@S@"Traditionally, consumers were concerned about ordering after the first of December because they didn't believe they would get it by Christmas," says Adam Strum, chairman of the Wine Enthusiast Inc., which sells wine cellars and accessories through the mail.@@@@1@39@@oe@2-2-2013
21654020@unknown@formal@none@1@S@Using Federal Express delivery last year, Mr. Strum says, "December was our biggest month."@@@@1@14@@oe@2-2-2013
21654021@unknown@formal@none@1@S@Even Sears, Roebuck & Co. is getting into the act, offering for the first time to have Federal Express deliver toys ordered by Dec. 20 from its Wish Book catalog.@@@@1@30@@oe@2-2-2013
21654022@unknown@formal@none@1@S@K mart Corp. Chairman Joseph E. Antonini summed up his outlook for the Christmas season as "not troublesome."@@@@1@18@@oe@2-2-2013
21654023@unknown@formal@none@1@S@He's not predicting a blockbuster, but he is "more optimistic than three months ago" because employment remains strong and inflation low.@@@@1@21@@oe@2-2-2013
21654024@unknown@formal@none@1@S@Other retailers are also preparing for a ho-hum holiday.@@@@1@9@@oe@2-2-2013
21654025@unknown@formal@none@1@S@Philip M. Hawley, chairman of Carter Hawley Hale Stores Inc., expects sales at department stores open at least a year to rise a modest 3% to 5% over last year's totals, both for his company and the industry in general.@@@@1@40@@oe@2-2-2013
21654026@unknown@formal@none@1@S@"I'm not looking for a runaway Christmas at all," he says.@@@@1@11@@oe@2-2-2013
21654027@unknown@formal@none@1@S@"It isn't a real boom holiday season in our eyes," says Woolworth Corp. Chairman Harold E. Sells, "but it isn't going to be a bust either."@@@@1@26@@oe@2-2-2013
21654028@unknown@formal@none@1@S@Mr. Sells expects fourth-quarter sales at his company -- which besides Woolworth stores includes Kinney and Foot Locker shoe stores and other specialty chains -- to rise "pretty much in line" with its year-to-date increases of between 8% and 9%.@@@@1@40@@oe@2-2-2013
21654029@unknown@formal@none@1@S@The estimate includes the results of new stores.@@@@1@8@@oe@2-2-2013
21654030@unknown@formal@none@1@S@A consumer poll conducted in early September by Leo J. Shapiro & Associates, a market researcher based in Chicago, also suggests a modest holiday.@@@@1@24@@oe@2-2-2013
21654031@unknown@formal@none@1@S@Of the 450 survey respondents, 35% said they expect to spend less buying Christmas gifts this year than last year, while 28% said they expect to spend more and 37% said their gift budget would stay the same.@@@@1@38@@oe@2-2-2013
21654032@unknown@formal@none@1@S@The results are almost identical to Shapiro's September 1988 numbers.@@@@1@10@@oe@2-2-2013
21654033@unknown@formal@none@1@S@Retailers could get a boost this year from the calendar.@@@@1@10@@oe@2-2-2013
21654034@unknown@formal@none@1@S@Christmas falls on a Monday, creating a big last-minute weekend opportunity for stores.@@@@1@13@@oe@2-2-2013
21654035@unknown@formal@none@1@S@Most will stay open late Saturday night and open their doors again Sunday.@@@@1@13@@oe@2-2-2013
21654036@unknown@formal@none@1@S@But many consumers probably will use the extra time to put off some purchasing until the last minute.@@@@1@18@@oe@2-2-2013
21654037@unknown@formal@none@1@S@"What you'll hear as we get into December is that sales are sluggish," predicts Woolworth's Mr. Sells.@@@@1@17@@oe@2-2-2013
21654038@unknown@formal@none@1@S@"The week ending the 24th is going to save the entire month for everyone.@@@@1@14@@oe@2-2-2013
21655001@unknown@formal@none@1@S@The Spanish author Camilo Jose Cela won the Nobel Prize for literature yesterday, a surprising choice, but given the Swedish Academy's past perversities, hardly the most undeserved and ridiculous accolade handed out by the awarding committee.@@@@1@36@@oe@2-2-2013
21655002@unknown@formal@none@1@S@In Spain, anyway, the 73-year-old Mr. Cela enjoys some renown for the novels and travel books he wrote during the parched Franco years, the everyday poverty and stagnant atmosphere of which he described in brutally direct, vivid prose, beginning with "The Family of Pascal Duarte" (1942).@@@@1@46@@oe@2-2-2013
21655003@unknown@formal@none@1@S@Unlike other writers who either battled the fascists during the Civil War, or left Spain when Franco triumphed, Mr. Cela fought briefly on the general's side, no doubt earning with his war wound some forbearance when he went on to depict a country with a high population of vagabonds, murderers and rural idiots trudging aimlessly through a dried-out land.@@@@1@59@@oe@2-2-2013
21655004@unknown@formal@none@1@S@Still, it was in Argentine editions that his countrymen first read his story of Pascal Duarte, a field worker who stabbed his mother to death and has no regrets as he awaits his end in a prison cell: "Fate directs some men down the flower-bordered path, and others down the road bordered with thistles and prickly pears.@@@@1@57@@oe@2-2-2013
21655005@unknown@formal@none@1@S@The lucky ones gaze out at life with serene eyes and smile with a face of innocence at their perfumed happiness.@@@@1@21@@oe@2-2-2013
21655006@unknown@formal@none@1@S@The others endure the hot sun of the plains and scowl like cornered wild beasts."@@@@1@15@@oe@2-2-2013
21655007@unknown@formal@none@1@S@Mr. Cela himself was one of the lucky ones, his fortunes steadily increasing over the decades he spent putting out some 70 travelogues, novels, short story collections and poetry.@@@@1@29@@oe@2-2-2013
21655008@unknown@formal@none@1@S@These days, he is as known for his flamboyant tastes and the youthful muse who shares his life as he is for his books.@@@@1@24@@oe@2-2-2013
21655009@unknown@formal@none@1@S@The man who wore out his shoes wandering around Guadalajara in 1958, describing in his travel book "Viaje a la Alcarria" how he scrounged for food and stayed in squalid inns, now tours Spain in a Rolls-Royce.@@@@1@37@@oe@2-2-2013
21655010@unknown@formal@none@1@S@Of his 10 novels, "The Hive" (1951), full of sharp vignettes of Madrid life and centered on a cafe run by Dona Rosa, a foul-mouthed, broad-based woman with blackened little teeth encrusted in filth, used to be available in English, translated by J.M. Cohen and published by Ecco Press, which now no doubt regrets relinquishing its copyright.@@@@1@57@@oe@2-2-2013
21655011@unknown@formal@none@1@S@Here is an excerpt:@@@@1@4@@oe@2-2-2013
21655012@unknown@formal@none@1@S@The lonely woman walks on in the direction of the Plaza de Alonso Martinez.@@@@1@14@@oe@2-2-2013
21655013@unknown@formal@none@1@S@Two men have a conversation behind one of the windows of the cafe on the corner of the boulevard.@@@@1@19@@oe@2-2-2013
21655014@unknown@formal@none@1@S@Both are young, one twenty odd, the other thirty odd.@@@@1@10@@oe@2-2-2013
21655015@unknown@formal@none@1@S@The older one looks like a member of the jury for a literary award, the younger one looks like a novelist.@@@@1@21@@oe@2-2-2013
21655016@unknown@formal@none@1@S@It is evident that their conversation runs more or less on the following lines: "I've submitted the manuscript of my novel under the title `Teresa de Cepeda,' and in it I've treated a few neglected aspects of that eternal problem which . . ."@@@@1@44@@oe@2-2-2013
21655017@unknown@formal@none@1@S@"Oh, yes.@@@@1@2@@oe@2-2-2013
21655018@unknown@formal@none@1@S@Will you pour me a drop of water, if you don't mind?"@@@@1@12@@oe@2-2-2013
21655019@unknown@formal@none@1@S@"With pleasure.@@@@1@2@@oe@2-2-2013
21655020@unknown@formal@none@1@S@I've revised it several times and I think I may say with pride that there is not a single discordant word in the whole text."@@@@1@25@@oe@2-2-2013
21655021@unknown@formal@none@1@S@"How interesting."@@@@1@2@@oe@2-2-2013
21655022@unknown@formal@none@1@S@"I think so.@@@@1@3@@oe@2-2-2013
21655023@unknown@formal@none@1@S@I don't know the quality of the works my colleagues have sent in, but in any case I feel confident that good sense and honest judgment . . ."@@@@1@29@@oe@2-2-2013
21655024@unknown@formal@none@1@S@"Rest assured, we proceed with exemplary fairness."@@@@1@7@@oe@2-2-2013
21655025@unknown@formal@none@1@S@"I don't doubt it for a moment.@@@@1@7@@oe@2-2-2013
21655026@unknown@formal@none@1@S@It does not matter if one is defeated, provided the work that gets the award has unmistakable qualities.@@@@1@18@@oe@2-2-2013
21655027@unknown@formal@none@1@S@What's so discouraging is . . ."@@@@1@7@@oe@2-2-2013
21655028@unknown@formal@none@1@S@In passing the window, Senorita Elvira gives them a smile -- simply out of habit.@@@@1@15@@oe@2-2-2013
21656001@unknown@formal@none@1@S@Ashland Oil Inc. said it will take after-tax charges of $78 million, or $1.40 a share, in its fiscal fourth quarter, ended Sept. 30.@@@@1@24@@oe@2-2-2013
21656002@unknown@formal@none@1@S@Because of the charge, Ashland expects to report a loss for the fourth quarter and "significantly lower results" for fiscal 1989.@@@@1@21@@oe@2-2-2013
21656003@unknown@formal@none@1@S@The oil refiner said it will report fiscal fourth quarter and 1989 results next week.@@@@1@15@@oe@2-2-2013
21656004@unknown@formal@none@1@S@The company earned $66 million, or $1.19 a share, on revenue of $2.1 billion in the year-ago fourth quarter.@@@@1@19@@oe@2-2-2013
21656005@unknown@formal@none@1@S@For fiscal 1988, Ashland had net of $224 million, or $4.01 a share, on revenue of $7.8 billion.@@@@1@18@@oe@2-2-2013
21656006@unknown@formal@none@1@S@Both revenue figures exclude excise taxes.@@@@1@6@@oe@2-2-2013
21656007@unknown@formal@none@1@S@The charges consist of: a $25 million after-tax charge to cover cost overruns in Ashland's Riley Consolidated subsidiary; a previously announced $38 million after-tax charge resulting from a $325 million settlement with National Iranian Oil Co. and a $15 million after-tax charge from the previously announced sale of its Ashland Technology Corp. subsidiary.@@@@1@53@@oe@2-2-2013
21656008@unknown@formal@none@1@S@Ashland expects that sale to be complete next year.@@@@1@9@@oe@2-2-2013
21656009@unknown@formal@none@1@S@The charge for the Riley subsidiary is for expected costs to correct problems with certain bed boilers built for utilities.@@@@1@20@@oe@2-2-2013
21656010@unknown@formal@none@1@S@The charge will be added to $20 million in reserves established a year ago to cover the cost overruns.@@@@1@19@@oe@2-2-2013
21657001@unknown@formal@none@1@S@When President Bush arrives here next week for a hemispheric summit organized to commemorate a century of Costa Rican democracy, will he be able to deliver a credible message in the wake of the Panamanian fiasco?@@@@1@36@@oe@2-2-2013
21657002@unknown@formal@none@1@S@Undoubtedly Mr. Bush will be praised by some Latin leaders prone to pay lip service to nonintervention, while they privately encourage more assertive U.S. action to remove Gen. Manuel Noriega and safeguard their countries from a Sandinista onslaught.@@@@1@38@@oe@2-2-2013
21657003@unknown@formal@none@1@S@The Panamanian affair is only the tip of a more alarming iceberg.@@@@1@12@@oe@2-2-2013
21657004@unknown@formal@none@1@S@It originates in a Bush administration decision not to antagonize the U.S. Congress and avoid, at all costs, being accused of meddling in the region.@@@@1@25@@oe@2-2-2013
21657005@unknown@formal@none@1@S@The result has been a dangerous vacuum of U.S. leadership, which leaves Central America open to Soviet adventurism.@@@@1@18@@oe@2-2-2013
21657006@unknown@formal@none@1@S@"The {influence of the} U.S. is not being felt in Central America; Washington's decisions do not respond to a policy, and are divorced from reality," says Fernando Volio, a Costa Rican congressman and former foreign minister.@@@@1@36@@oe@2-2-2013
21657007@unknown@formal@none@1@S@The disarray of the Bush administration's Latin diplomacy was evident in the failure of the Organization of American States to condemn categorically Gen. Noriega.@@@@1@24@@oe@2-2-2013
21657008@unknown@formal@none@1@S@Faced with this embarrassment, U.S. diplomats expressed confidence that the influential Rio Group of South American nations, which gathered last week in Peru, would take a stronger posture toward the Panamanian dictator.@@@@1@32@@oe@2-2-2013
21657009@unknown@formal@none@1@S@But other than a few slaps on the wrist, Gen. Noriega went unpunished by that body, too; he was not even singled out in the closing statement.@@@@1@27@@oe@2-2-2013
21657010@unknown@formal@none@1@S@Now Mr. Bush will come to Costa Rica and encounter Nicaraguan strongman Daniel Ortega, eager for photo opportunities with the U.S. president.@@@@1@22@@oe@2-2-2013
21657011@unknown@formal@none@1@S@The host, Costa Rican President Oscar Arias, did not invite Chile, Cuba, Panama or Haiti to the summit, which was to be restricted to democracies.@@@@1@25@@oe@2-2-2013
21657012@unknown@formal@none@1@S@However, Mr. Ortega was included.@@@@1@5@@oe@2-2-2013
21657013@unknown@formal@none@1@S@Formally upgrading the Sandinistas to a democratic status was an initiative harshly criticized in the Costa Rican press.@@@@1@18@@oe@2-2-2013
21657014@unknown@formal@none@1@S@Even Carlos Manuel Castillo -- the presidential candidate for Mr. Arias's National Liberation Party -- made public his opposition to the presence of Nicaragua "in a democratic festivity."@@@@1@28@@oe@2-2-2013
21657015@unknown@formal@none@1@S@Nevertheless, the Bush administration agreed to the dubious arrangement in July, a few weeks before the Central American presidents met in Tela, Honduras, to discuss a timetable for disbanding the anti-Sandinista rebels.@@@@1@32@@oe@2-2-2013
21657016@unknown@formal@none@1@S@According to officials in Washington, the State Department hoped that by pleasing President Arias, it would gain his support to postpone any decision on the Contras until after Mr. Ortega's promises of democratic elections were tested next February.@@@@1@38@@oe@2-2-2013
21657017@unknown@formal@none@1@S@However, relying on an ardent critic of the Reagan administration and the Contra movement for help in delaying the disarming of the Contras was risky business.@@@@1@26@@oe@2-2-2013
21657018@unknown@formal@none@1@S@And even some last-minute phone calls that Mr. Bush made (at the behest of some conservative U.S. senators) to enlist backing for the U.S. position failed to stop the march of Mr. Arias's agenda.@@@@1@34@@oe@2-2-2013
21657019@unknown@formal@none@1@S@Prior to this episode, Sen. Christopher Dodd (D., Conn.), sensing an open field, undertook a personal diplomatic mission through Central America to promote an early disbanding of the rebels.@@@@1@29@@oe@2-2-2013
21657020@unknown@formal@none@1@S@Visiting Nicaragua, he praised the Sandinistas for their electoral system and chided the Bush administration for not rewarding the Sandinistas.@@@@1@20@@oe@2-2-2013
21657021@unknown@formal@none@1@S@In Honduras, where the Contras are a hot political issue, he promised to help unblock some $70 million in assistance withheld due to the failure of local agencies to comply with conditions agreed upon with Washington.@@@@1@36@@oe@2-2-2013
21657022@unknown@formal@none@1@S@Aid was also the gist of the talks Sen. Dodd had with Salvadoran President Alfredo Cristiani; Mr. Cristiani's government is very much at the mercy of U.S. largess and is forced to listen very carefully to Sen. Dodd's likes and dislikes.@@@@1@41@@oe@2-2-2013
21657023@unknown@formal@none@1@S@It was therefore not surprising that close allies of the U.S., virtually neglected by the Bush administration, ordered the Nicaraguan insurgents dismantled by December, long before the elections.@@@@1@28@@oe@2-2-2013
21657024@unknown@formal@none@1@S@Fittingly, the Tela Accords were nicknamed by Hondurans "the Dodd plan."@@@@1@11@@oe@2-2-2013
21657025@unknown@formal@none@1@S@The individual foreign policy carried out by U.S. legislators adds to a confusing U.S. performance that has emboldened Soviet initiatives in Central America.@@@@1@23@@oe@2-2-2013
21657026@unknown@formal@none@1@S@On Oct. 3, following conversations with Secretary of State James Baker, Soviet Foreign Minister Eduard Shevardnadze arrived in Managua to acclaim "Nicaragua's great peace efforts."@@@@1@25@@oe@2-2-2013
21657027@unknown@formal@none@1@S@There, Mr. Shevardnadze felt legitimized to unveil his own peace plan: The U.S.S.R. would prolong a suspension of arms shipments to Nicaragua after the February election if the U.S. did likewise with its allies in Central America.@@@@1@37@@oe@2-2-2013
21657028@unknown@formal@none@1@S@He also called on Nicaragua's neighbors to accept a "military equilibrium" guaranteed by both superpowers.@@@@1@15@@oe@2-2-2013
21657029@unknown@formal@none@1@S@The Pentagon claims that in spite of Moscow's words, East bloc weapons continue to flow into Nicaragua through Cuba at near-record levels.@@@@1@22@@oe@2-2-2013
21657030@unknown@formal@none@1@S@Since Mr. Shevardnadze's proposals followed discussions with Mr. Baker, speculations arose that the Bush administration was seeking an accommodation with the Soviets in Central America.@@@@1@25@@oe@2-2-2013
21657031@unknown@formal@none@1@S@This scheme would fit the Arias Plan, which declared a false symmetry between Soviet military aid to the Sandinista dictatorship and that provided by Washington to freely elected governments.@@@@1@29@@oe@2-2-2013
21657032@unknown@formal@none@1@S@Furthermore, it is also likely to encourage those on Capitol Hill asking for cuts in the assistance to El Salvador if President Cristiani does not bend to demands of the Marxist guerrillas.@@@@1@32@@oe@2-2-2013
21657033@unknown@formal@none@1@S@The sad condition of U.S. policy in Central America is best depicted by the recent end to U.S. sponsorship of Radio Costa Rica.@@@@1@23@@oe@2-2-2013
21657034@unknown@formal@none@1@S@In 1984, the Costa Rican government requested help to establish a radio station in the northern part of the country, flooded by airwaves of Sandinista propaganda.@@@@1@26@@oe@2-2-2013
21657035@unknown@formal@none@1@S@Recovering radiophonic sovereignty was the purpose of Radio Costa Rica, funded by the U.S. and affiliated with the Voice of America (VOA).@@@@1@22@@oe@2-2-2013
21657036@unknown@formal@none@1@S@A few months ago, the Bush administration decided to stop this cooperation, leaving Radio Costa Rica operating on a shoestring.@@@@1@20@@oe@2-2-2013
21657037@unknown@formal@none@1@S@According to news reports, the abrupt termination was due to fears that VOA transmissions could interfere with the peace process.@@@@1@20@@oe@2-2-2013
21657038@unknown@formal@none@1@S@In the meantime, Russia gave Nicaragua another powerful radio transmitter, which has been installed in the city of Esteli.@@@@1@19@@oe@2-2-2013
21657039@unknown@formal@none@1@S@It is capable of reaching the entire Caribbean area and deep into North America.@@@@1@14@@oe@2-2-2013
21657040@unknown@formal@none@1@S@Perhaps its loud signal may generate some awareness of the Soviet condominium being created in the isthmus thanks to U.S. default.@@@@1@21@@oe@2-2-2013
21657041@unknown@formal@none@1@S@The Soviet entrenchment in Nicaragua is alarming for Costa Rica, a peaceful democracy without an army.@@@@1@16@@oe@2-2-2013
21657042@unknown@formal@none@1@S@Questioned in Washington about what would happen if his much-heralded peace plan would fail, President Arias voiced expectations of direct U.S. action.@@@@1@22@@oe@2-2-2013
21657043@unknown@formal@none@1@S@A poll conducted in July by a Gallup affiliate showed that 64% of Costa Ricans believe that if their country is militarily attacked by either Nicaragua or Panama, the U.S. will come to its defense.@@@@1@35@@oe@2-2-2013
21657044@unknown@formal@none@1@S@But in the light of events in Panama, where the U.S. has such clear strategic interests, waiting for the Delta Force may prove to be a dangerous gambit.@@@@1@28@@oe@2-2-2013
21657045@unknown@formal@none@1@S@Mr. Daremblum is a lawyer and a columnist for La Nacion newspaper.@@@@1@12@@oe@2-2-2013
21658001@unknown@formal@none@1@S@Holiday Corp. said net income jumped 89%, partly on the strength of record operating income in its gaming division.@@@@1@19@@oe@2-2-2013
21658002@unknown@formal@none@1@S@Separately, the hotel and gambling giant said it was proceeding with plans to make a tender offer and solicit consents with respect to approximately $1.4 billion of its publicly traded debt.@@@@1@31@@oe@2-2-2013
21658003@unknown@formal@none@1@S@That debt is part of the $2.1 billion of Holiday debt that Bass PLC of Britain said it would retire or assume when it agreed to buy the Holiday Inn business in August.@@@@1@33@@oe@2-2-2013
21658004@unknown@formal@none@1@S@Holiday said third-quarter earnings rose to $39.8 million, or $1.53 a share, from $21 million, or 84 cents a share, a year earlier.@@@@1@23@@oe@2-2-2013
21658005@unknown@formal@none@1@S@Results for the quarter included $19.2 million in pretax gains from property transactions, including the sale of one Embassy Suites hotel, and $3.5 million of nonrecurring costs associated with the acquisition of the Holiday Inn business by Bass.@@@@1@38@@oe@2-2-2013
21658006@unknown@formal@none@1@S@Holiday said operating income related to gaming increased 4.5% to a record $61.4 million from $58.8 million a year earlier.@@@@1@20@@oe@2-2-2013
21658007@unknown@formal@none@1@S@The jump reflected record results in Las Vegas, Nev., and Atlantic City, N.J., as well as a full quarter's results from Harrah's Del Rio in Laughlin, Nev.@@@@1@27@@oe@2-2-2013
21658008@unknown@formal@none@1@S@Third-quarter revenue rose 2.7% to $433.5 million from $422.1 million.@@@@1@10@@oe@2-2-2013
21658009@unknown@formal@none@1@S@For the nine months, earnings fell 2.9% to $99.1 million, or $3.86 a share, from $102.1 million, or $4.10 a share, a year earlier.@@@@1@24@@oe@2-2-2013
21658010@unknown@formal@none@1@S@Revenue dropped 1.6% to $1.21 billion from $1.23 billion.@@@@1@9@@oe@2-2-2013
21658011@unknown@formal@none@1@S@The tender offer and consent solicitation will be made to debtholders in December.@@@@1@13@@oe@2-2-2013
21658012@unknown@formal@none@1@S@In effect, Holiday is asking holders for permission for Bass to buy their debt.@@@@1@14@@oe@2-2-2013
21658013@unknown@formal@none@1@S@Holiday said Salomon Brothers Inc. has been retained to act as the dealer-manager and financial adviser in connection with the offer and solicitation.@@@@1@23@@oe@2-2-2013
21658014@unknown@formal@none@1@S@The debt issues involved and the proposed consent fees and cash tender offer prices (expressed per $1,000 of principal amount) are as follows: 10 1/2% senior notes due 1994 at 101%; 11% subordinated debt due 1999 at 102%; 9 3/8% notes due 1993 at 100%; and 8 3/8% notes due 1996 at 95.25%.@@@@1@53@@oe@2-2-2013
21658015@unknown@formal@none@1@S@Holiday said its 15% notes due 1992 also will be included in the tender offer and consent solicitation at a price to be determined by Holiday prior to the commencement of the offer.@@@@1@33@@oe@2-2-2013
21659001@unknown@formal@none@1@S@The television units of Paramount Communications Inc. and MCA Inc. are exploring the possibility of offering prime-time programming to independent stations two nights a week, industry executives say.@@@@1@28@@oe@2-2-2013
21659002@unknown@formal@none@1@S@Although such a venture wouldn't match the "fourth network" created by News Corp.'s Fox Broadcasting Co., MCA and Paramount may have similar ambitions.@@@@1@23@@oe@2-2-2013
21659003@unknown@formal@none@1@S@Fox, which also owns six TV stations, provides programs three nights a week to those and other affiliates.@@@@1@18@@oe@2-2-2013
21659004@unknown@formal@none@1@S@Paramount Domestic TV and MCA TV formed a joint venture last month, named Premier Advertiser Sales, to sell advertising in programs syndicated by both companies, such as "Star Trek: the Next Generation," "Charles in Charge" and "Friday the 13th: the Series."@@@@1@41@@oe@2-2-2013
21659005@unknown@formal@none@1@S@A spokeswoman for Paramount said the company doesn't comment on speculation.@@@@1@11@@oe@2-2-2013
21659006@unknown@formal@none@1@S@Calls to Shelly Schwab, president of MCA TV, weren't returned.@@@@1@10@@oe@2-2-2013
21659007@unknown@formal@none@1@S@The two companies, like Fox, already have their own TV stations.@@@@1@11@@oe@2-2-2013
21659008@unknown@formal@none@1@S@MCA owns WWOR in New York and Paramount last month agreed to purchase a 79% stake in the TVX Broadcast Group from Salomon Inc. in a deal valued at $140 million.@@@@1@31@@oe@2-2-2013
21659009@unknown@formal@none@1@S@TVX owns five stations, including WTXF, a Fox affiliate, in Philadelphia.@@@@1@11@@oe@2-2-2013
21659010@unknown@formal@none@1@S@One broadcasting executive familiar with the project said the co-venture would target stations affiliated with Fox because Fox has the desirable independent stations in most of the key cities.@@@@1@29@@oe@2-2-2013
21659011@unknown@formal@none@1@S@Currently, Fox supplies programs on Saturdays, Sundays and Mondays, although the company plans to expand to other weeknights.@@@@1@18@@oe@2-2-2013
21659012@unknown@formal@none@1@S@Jamie Kellner, president of Fox Broadcasting, said, "We believe the partnership of Fox, its affiliates and advertisers is succeeding and will continue to grow."@@@@1@24@@oe@2-2-2013
21659013@unknown@formal@none@1@S@Another Fox official, who declined to be identified, said Fox wasn't pleased by the possible Paramount-MCA venture into prime-time programming.@@@@1@20@@oe@2-2-2013
21659014@unknown@formal@none@1@S@"To make the venture work, they would need Fox affiliates," he said.@@@@1@12@@oe@2-2-2013
21659015@unknown@formal@none@1@S@"We spent a lot of time and money in building our group of stations," he said, adding that Fox doesn't "appreciate" another company attempting to usurp its station lineup.@@@@1@29@@oe@2-2-2013
21659016@unknown@formal@none@1@S@Fox said it plans to offer its stations movies, theatrical and made-for-TV ventures, probably on Wednesdays, sometime next year.@@@@1@19@@oe@2-2-2013
21659017@unknown@formal@none@1@S@It is also planning another night of original series.@@@@1@9@@oe@2-2-2013
21659018@unknown@formal@none@1@S@Paramount and MCA, according to the broadcasting executive, plan to offer theatrical movies produced separately by Paramount and MCA for Wednesdays and perhaps a block of original shows Fridays.@@@@1@29@@oe@2-2-2013
21659019@unknown@formal@none@1@S@The executive said Paramount and MCA have also held discussions with Chris-Craft Industries' broadcasting unit, which owns five independent stations in cities such as Los Angeles, San Francisco and Portland, Ore.@@@@1@31@@oe@2-2-2013
21659020@unknown@formal@none@1@S@A Chris-Craft station manager said there have been no formal talks.@@@@1@11@@oe@2-2-2013
21659021@unknown@formal@none@1@S@"I think it's to Fox's advantage to be associated with the Paramount-MCA venture," said Michael Conway, station manager of WTXF, the TVX station that is a Fox affiliate.@@@@1@28@@oe@2-2-2013
21659022@unknown@formal@none@1@S@Mr. Conway said the Fox shows appearing on nights when Paramount-MCA shows wouldn't be offered could be promoted on the programs produced by Paramount-MCA.@@@@1@24@@oe@2-2-2013
21659023@unknown@formal@none@1@S@Michael Fisher, general manager of KTXL, a Fox affiliate in Sacramento, Calif., said, "The real question is whether the Paramount-MCA offering is practical.@@@@1@23@@oe@2-2-2013
21659024@unknown@formal@none@1@S@It isn't. . . .@@@@1@5@@oe@2-2-2013
21659025@unknown@formal@none@1@S@Why would I consider giving up Fox, a proven commodity," for an unknown venture?@@@@1@14@@oe@2-2-2013
21659026@unknown@formal@none@1@S@Fox attracts a young audience with shows such as "Married . . . With Children," its most successful series.@@@@1@19@@oe@2-2-2013
21660001@unknown@formal@none@1@S@Banco Popular de Puerto Rico and BanPonce Corp. -- agreed to merge in a transaction valued at $324 million.@@@@1@19@@oe@2-2-2013
21660002@unknown@formal@none@1@S@Under the agreement, BanPonce stockholders will be able to exchange each of their shares for either shares in the new entity or cash.@@@@1@23@@oe@2-2-2013
21660003@unknown@formal@none@1@S@In each case, the exchange is valued at $56.25 a share.@@@@1@11@@oe@2-2-2013
21660004@unknown@formal@none@1@S@The two companies, both based in San Juan, will form a bank holding company with assets of just over $9 billion.@@@@1@21@@oe@2-2-2013
21660005@unknown@formal@none@1@S@The holding company will be called BanPonce Corp.@@@@1@8@@oe@2-2-2013
21660006@unknown@formal@none@1@S@The primary subsidiary will be the combined banking operations of the two companies and will be known as Banco Popular de Puerto Rico.@@@@1@23@@oe@2-2-2013
21660007@unknown@formal@none@1@S@Rafael Carrion Jr., chairman of Banco Popular, will be the chairman of the holding company.@@@@1@15@@oe@2-2-2013
21660008@unknown@formal@none@1@S@Alberto M. Paracchini, currently chairman of BanPonce, will serve as president of the bank holding company and chairman of the subsidiary.@@@@1@21@@oe@2-2-2013
21660009@unknown@formal@none@1@S@Banco Popular originally proposed the merger in July, in a cash and stock transaction valued at $50 a share, or about $293 million.@@@@1@23@@oe@2-2-2013
21660010@unknown@formal@none@1@S@BanPonce reacted cooly at first, but appeared to be won over, analysts said, by Banco Popular's assurances that it wanted only a friendly transaction.@@@@1@24@@oe@2-2-2013
21660011@unknown@formal@none@1@S@"Banco Popular just kept waiting," said Edward Thompson, a vice president and analyst at Thomson BankWatch Inc. in New York.@@@@1@20@@oe@2-2-2013
21660012@unknown@formal@none@1@S@"They got a transaction that's good for both companies."@@@@1@9@@oe@2-2-2013
21660013@unknown@formal@none@1@S@The two banks appear to be a good fit.@@@@1@9@@oe@2-2-2013
21660014@unknown@formal@none@1@S@BanPonce caters to a more affluent customer, while Banco Popular has always had a large presence among middle-income and lower-income markets.@@@@1@21@@oe@2-2-2013
21660015@unknown@formal@none@1@S@The merger should also allow the companies to reduce costs by combining operations in many locations in Puerto Rico.@@@@1@19@@oe@2-2-2013
21660016@unknown@formal@none@1@S@"They're often right across the street from one another," Mr. Thompson said.@@@@1@12@@oe@2-2-2013
21660017@unknown@formal@none@1@S@Richard Carrion, who is currently president and chief executive officer of Banco Popular, said the merger will result in a "larger and stronger locally based bank."@@@@1@26@@oe@2-2-2013
21660018@unknown@formal@none@1@S@Mr. Carrion, who will now serve as president and chief executive officer of the subsidiary bank, added: "We'll be able to better compete with large foreign banks.@@@@1@27@@oe@2-2-2013
21660019@unknown@formal@none@1@S@It makes sense from a strategic standpoint."@@@@1@7@@oe@2-2-2013
21660020@unknown@formal@none@1@S@The newly merged company will have 165 branches in Puerto Rico and 27 branches outside of the island.@@@@1@18@@oe@2-2-2013
21660021@unknown@formal@none@1@S@The banks said they don't expect the merger to face any regulatory hurdles.@@@@1@13@@oe@2-2-2013
21660022@unknown@formal@none@1@S@Mr. Carrion said the merger should be completed in six to nine months.@@@@1@13@@oe@2-2-2013
21661001@unknown@formal@none@1@S@Hit by higher costs and lower sales, Caterpillar Inc. said third-quarter earnings tumbled 43% and full-year earnings will trail last year's results.@@@@1@22@@oe@2-2-2013
21661002@unknown@formal@none@1@S@The construction equipment maker said third-quarter profit fell to $108 million, or $1.07 a share, from $190 million, or $1.87 a share, a year earlier.@@@@1@25@@oe@2-2-2013
21661003@unknown@formal@none@1@S@Sales dropped 6% to $2.58 billion from $2.74 billion, reflecting eight fewer business days in the latest quarter.@@@@1@18@@oe@2-2-2013
21661004@unknown@formal@none@1@S@The company, which is in a costly modernization program, said earnings were hurt by higher start-up and new program costs, increased costs of materials, higher wages and an $11 million provision for bad debts in Latin America.@@@@1@37@@oe@2-2-2013
21661005@unknown@formal@none@1@S@In announcing a 1989 capital spending plan of $950 million early this year, Caterpillar said full-year earnings would be flat compared with last year's $616 million, or $6.07 a share.@@@@1@30@@oe@2-2-2013
21661006@unknown@formal@none@1@S@But yesterday, the company said this year's profit will be lower.@@@@1@11@@oe@2-2-2013
21661007@unknown@formal@none@1@S@It didn't say by how much.@@@@1@6@@oe@2-2-2013
21661008@unknown@formal@none@1@S@Suffering from a downturn in heavy truck production that cut orders for its engines, Caterpillar also said it will indefinitely lay off about 325 workers in the Peoria area and temporarily shut its plant in York, Pa., for two weeks in both November and December.@@@@1@45@@oe@2-2-2013
21661009@unknown@formal@none@1@S@For the first nine months of the year, Caterpillar said earnings fell 14% to $390 million, or $3.85 a share, from $453 million, or $4.46 a share, a year earlier.@@@@1@30@@oe@2-2-2013
21661010@unknown@formal@none@1@S@Sales rose to $8.19 billion from $7.65 billion.@@@@1@8@@oe@2-2-2013
21662001@unknown@formal@none@1@S@Millicom Inc. said it is one of two companies to receive a license to introduce and operate a cellular mobile telephone system in Pakistan.@@@@1@24@@oe@2-2-2013
21662002@unknown@formal@none@1@S@The market during the start-up is estimated at 25,000 subscribers.@@@@1@10@@oe@2-2-2013
21662003@unknown@formal@none@1@S@A spokeswoman for Millicom, a telecommunications company, said she didn't know the value of the contract.@@@@1@16@@oe@2-2-2013
21662004@unknown@formal@none@1@S@Cable & Wireless PLC of Britain won the other license.@@@@1@10@@oe@2-2-2013
21662005@unknown@formal@none@1@S@Millicom said it would build and operate the system in Pakistan with Comvik International AB, part of the Kinnevik group of Sweden, and Arfeen International, Pakistan.@@@@1@26@@oe@2-2-2013
21663001@unknown@formal@none@1@S@B.A.T Industries PLC won overwhelming shareholder approval for a defensive restructuring to fend off a #13.35 billion ($21.23 billion) takeover bid from Sir James Goldsmith.@@@@1@25@@oe@2-2-2013
21663002@unknown@formal@none@1@S@At a shareholders' meeting in London, the tobacco, financial-services and retailing giant said it received 99.9% approval from voting holders for plans to spin off about $6 billion in assets.@@@@1@30@@oe@2-2-2013
21663003@unknown@formal@none@1@S@B.A.T aims to sell such U.S. retailing units as Marshall Field and Saks Fifth Avenue and float its big paper and British retailing businesses via share issues to existing holders.@@@@1@30@@oe@2-2-2013
21663004@unknown@formal@none@1@S@Proceeds will help pay for a planned buy-back of 10%, or about 153 million, of its shares and a 50% dividend increase.@@@@1@22@@oe@2-2-2013
21663005@unknown@formal@none@1@S@B.A.T yesterday started its share buy-back.@@@@1@6@@oe@2-2-2013
21663006@unknown@formal@none@1@S@The company said it acquired 2.5 million shares for 785 pence ($12.48) each, or a total of #19.6 million ($31.2 million), from its broker, Barclays de Zoete Wedd.@@@@1@28@@oe@2-2-2013
21663007@unknown@formal@none@1@S@The share buy-back plan is likely to underpin B.A.T's share price.@@@@1@11@@oe@2-2-2013
21663008@unknown@formal@none@1@S@B.A.T said it may make more equity purchases until the close of business today, depending on market conditions, but will cease further purchases until Nov. 22, when it releases third-quarter results.@@@@1@31@@oe@2-2-2013
21663009@unknown@formal@none@1@S@B.A.T shares rose 29 pence to 783 pence on London's stock exchange yesterday.@@@@1@13@@oe@2-2-2013
21663010@unknown@formal@none@1@S@Shareholder approval sets the stage for a lengthy process of restructuring that might not be completed until next year's second half.@@@@1@21@@oe@2-2-2013
21663011@unknown@formal@none@1@S@Before the recent tumult in global financial markets, B.A.T officials, holders and analysts had expected a substantial part of the restructuring to be complete by the end of the first half.@@@@1@31@@oe@2-2-2013
21663012@unknown@formal@none@1@S@"We are not in any hurry to sell" Saks, Marshall Field or B.A.T's other U.S. retail properties, said Chairman Patrick Sheehy.@@@@1@21@@oe@2-2-2013
21663013@unknown@formal@none@1@S@"This isn't a distress sale.@@@@1@5@@oe@2-2-2013
21663014@unknown@formal@none@1@S@We are determined to get good prices."@@@@1@7@@oe@2-2-2013
21663015@unknown@formal@none@1@S@Company officials say the flotations of the paper and British retailing businesses are likely only after the disposals of the U.S. retailing assets.@@@@1@23@@oe@2-2-2013
21663016@unknown@formal@none@1@S@Meanwhile, Sir James still is pursuing efforts to gain U.S. insurance regulators' approval for a change in control of B.A.T's Farmers Group Inc. unit.@@@@1@24@@oe@2-2-2013
21663017@unknown@formal@none@1@S@The Anglo-French financier has indicated he intends to bid again for B.A.T if he receives approval.@@@@1@16@@oe@2-2-2013
21664001@unknown@formal@none@1@S@Hasbro Inc., the nation's largest toy maker, reported third-quarter earnings increased 73% from a year earlier on a 9.4% sales gain, reflecting improved margins.@@@@1@24@@oe@2-2-2013
21664002@unknown@formal@none@1@S@Hasbro said it had net income of $31.3 million, or 53 cents a share, up from $18.1 million, or 31 cents a share, a year earlier, when it took a pretax charge of $10 million after dropping development of an interactive video entertainment system.@@@@1@44@@oe@2-2-2013
21664003@unknown@formal@none@1@S@Revenue rose to $403 million from $368.4 million.@@@@1@8@@oe@2-2-2013
21664004@unknown@formal@none@1@S@The company cited sales gains at its Milton Bradley and Playskool units and in its international business for the increase in revenue.@@@@1@22@@oe@2-2-2013
21664005@unknown@formal@none@1@S@Alan G. Hassenfeld, chairman and chief executive, added that Hasbro's new line of battery-powered racing cars, called Record Breakers, and its acquisition of Cabbage Patch Kids, Scrabble and other lines from Coleco Industries Inc. puts the company "in a good position as we enter the Christmas buying season."@@@@1@48@@oe@2-2-2013
21664006@unknown@formal@none@1@S@For the first nine months of the year, Hasbro's net income rose 33% to $68.2 million, or $1.15 a share, from $51.3 million, or 88 cents a share, on a 3.1% increase in revenue to $992.7 million from $963 million a year earlier.@@@@1@43@@oe@2-2-2013
21665001@unknown@formal@none@1@S@Reebok International Ltd. posted a 35% increase in third-quarter net income despite a slight decline in sales.@@@@1@17@@oe@2-2-2013
21665002@unknown@formal@none@1@S@The athletic footwear maker said net rose to $49.9 million, or 44 cents a share, from $37.1 million, or 32 cents a share, a year earlier.@@@@1@26@@oe@2-2-2013
21665003@unknown@formal@none@1@S@Sales declined 3% to $524.5 million from $539.4 million.@@@@1@9@@oe@2-2-2013
21665004@unknown@formal@none@1@S@Paul Fireman, Reebok chairman and chief executive officer, said, "Our gains in earnings provide further evidence that the controls we have put in place and our sales mix are continuing to improve the company's overall profit performance."@@@@1@37@@oe@2-2-2013
21665005@unknown@formal@none@1@S@The company said it expects sales to improve due to a number of new products, including a "pump" basketball shoe that can be inflated to better fit the foot.@@@@1@29@@oe@2-2-2013
21665006@unknown@formal@none@1@S@In the first nine months, net was $140 million, or $1.23 a share, on sales of $1.44 billion.@@@@1@18@@oe@2-2-2013
21665007@unknown@formal@none@1@S@Separately, Reebok completed the acquisition of CML Group Inc.'s Boston Whaler unit, a builder of power boats.@@@@1@17@@oe@2-2-2013
21665008@unknown@formal@none@1@S@CML, Acton, Mass., had agreed to sell the unit to Reebok for about $42 million.@@@@1@15@@oe@2-2-2013
21665009@unknown@formal@none@1@S@The agreement also called for Reebok to receive warrants to purchase 400,000 shares of CML common at $31.25 a share, exercisable at any time before July 1,@@@@1@27@@oe@2-2-2013
21665010@unknown@formal@none@1@S@An outside spokesman for CML said the terms were changed to a minor extent but wouldn't disclose what those changes were.@@@@1@21@@oe@2-2-2013
21666001@unknown@formal@none@1@S@Pitney Bowes Inc. directors authorized the company to seek buyers for its Wheeler Group Inc. subsidiary, a direct mail marketer of office supplies.@@@@1@23@@oe@2-2-2013
21666002@unknown@formal@none@1@S@Pitney Bowes said the decision was based on a long-term analysis of the compatibility of Wheeler Group's marketing business with other Pitney Bowes operations.@@@@1@24@@oe@2-2-2013
21666003@unknown@formal@none@1@S@Pitney Bowes acquired the core of what evolved into Wheeler Group in 1979 by buying Dictaphone Corp.@@@@1@17@@oe@2-2-2013
21666004@unknown@formal@none@1@S@A spokeswoman wouldn't comment on whether the company had talked with any potential buyers for the New Hartford, Conn., unit, which had 1988 sales of about $75 million.@@@@1@28@@oe@2-2-2013
21666005@unknown@formal@none@1@S@She said Wheeler Group was profitable but wouldn't give figures.@@@@1@10@@oe@2-2-2013
21666006@unknown@formal@none@1@S@The spokeswoman said the company doesn't have a timetable for the sale, adding that the board's decision just starts the search for a buyer.@@@@1@24@@oe@2-2-2013
21666007@unknown@formal@none@1@S@Separately, Pitney Bowes said third-quarter net income gained 15% to $62 million, or 78 cents a share, from $54 million, or 68 cents a share, a year ago.@@@@1@28@@oe@2-2-2013
21666008@unknown@formal@none@1@S@Revenue grew 13% to $734.8 million from $650.9 million.@@@@1@9@@oe@2-2-2013
21666009@unknown@formal@none@1@S@The company said the growth was led by its major operations, particularly mailing, shipping, dictating and facsimile businesses.@@@@1@18@@oe@2-2-2013
21667001@unknown@formal@none@1@S@Steel jackets of a type that may have prevented collapse of the columns of a 1.5-mile stretch of the Nimitz Freeway had been installed on at least a small test section of the double-decker highway last year by California's Department of Transportation, employees familiar with the project say.@@@@1@48@@oe@2-2-2013
21667002@unknown@formal@none@1@S@The test project -- which reportedly survived Tuesday's earthquake -- was a prelude to a state plan to retrofit that critical section of the freeway with the steel casings.@@@@1@29@@oe@2-2-2013
21667003@unknown@formal@none@1@S@State engineers have made a preliminary finding that it was failure of the concrete columns, wrenched and separated from the double-decker roadbed, that was responsible for the collapse.@@@@1@28@@oe@2-2-2013
21667004@unknown@formal@none@1@S@The failure in Oakland of the freeway segment known as the Cypress structure was the deadliest aspect of the quake, although officials were hopeful yesterday that the death toll there might be significantly lower than the 250 initially feared.@@@@1@39@@oe@2-2-2013
21667005@unknown@formal@none@1@S@Sorting out the wreckage is expected to take several days.@@@@1@10@@oe@2-2-2013
21667006@unknown@formal@none@1@S@Red tractors gingerly picked at the rubble while jackhammers tried to break up some of the massive slabs of concrete.@@@@1@20@@oe@2-2-2013
21667007@unknown@formal@none@1@S@Giant yellow cranes were wheeled up alongside the collapsed segment, preparing to lift off chunks of the debris.@@@@1@18@@oe@2-2-2013
21667008@unknown@formal@none@1@S@In Sacramento, a transportation department spokesman said he couldn't immediately confirm or deny existence of the test work.@@@@1@18@@oe@2-2-2013
21667009@unknown@formal@none@1@S@However, he asserted that the department hadn't mastered the technology needed to retrofit the entire Cypress structure.@@@@1@17@@oe@2-2-2013
21667010@unknown@formal@none@1@S@Moreover, other officials noted, snafus in transportation funding that the state has experienced over the years may have restricted the availability of funds for such a retrofitting, even if it were technologically feasible.@@@@1@33@@oe@2-2-2013
21667011@unknown@formal@none@1@S@Knowledgeable employees said the retrofitting, which hadn't yet been budgeted, was part of a planned, three-stage reinforcement of the Cypress structure begun by the California transportation department several years ago.@@@@1@30@@oe@2-2-2013
21667012@unknown@formal@none@1@S@The Cypress reinforcement project itself was part of an annual effort to shore up structures believed vulnerable to earthquakes.@@@@1@19@@oe@2-2-2013
21667013@unknown@formal@none@1@S@The state began such work after a 1971 tremblor in Southern California, when numerous bridges collapsed.@@@@1@16@@oe@2-2-2013
21667014@unknown@formal@none@1@S@"We had just finished phase two" of the Cypress project that involved installing a series of retaining cables designed to prevent sections of the roadway from separating as a result of seismic shock, a state DOT engineer said.@@@@1@38@@oe@2-2-2013
21667015@unknown@formal@none@1@S@After completing installation of the jackets on "one frame" of the freeway last year, the state DOT had sent the project over to its Sacramento engineers to draw up a final design.@@@@1@32@@oe@2-2-2013
21667016@unknown@formal@none@1@S@Knowledgeable employees said the project had been stymied somewhat by "the difficulty of designing" the jackets.@@@@1@16@@oe@2-2-2013
21667017@unknown@formal@none@1@S@The procedure involves encasing the concrete columns with steel, then connecting them more securely to the double-decker roadbed.@@@@1@18@@oe@2-2-2013
21667018@unknown@formal@none@1@S@The employees also said the project may have been snagged by budgetary concerns.@@@@1@13@@oe@2-2-2013
21667019@unknown@formal@none@1@S@One preliminary estimate put the retrofitting cost at as much as $50 million.@@@@1@13@@oe@2-2-2013
21667020@unknown@formal@none@1@S@The collapse of the span has provoked surprise and anger among state officials.@@@@1@13@@oe@2-2-2013
21667021@unknown@formal@none@1@S@Gov. George Deukmejian, who said he had been assured by state transportation officials that the structure could withstand an even larger quake, called for an immediate investigation.@@@@1@27@@oe@2-2-2013
21667022@unknown@formal@none@1@S@"I want to know who made the decision that it was safe for 186,000 people to use every day," said Richard Katz, a state legislator who is chairman of the California Assembly's transportation committee.@@@@1@34@@oe@2-2-2013
21667023@unknown@formal@none@1@S@He said he would convene hearings within two weeks.@@@@1@9@@oe@2-2-2013
21667024@unknown@formal@none@1@S@The Cypress structure opened in June 1957, and as such, like many buildings in the San Francisco Bay area, does not meet current building codes requiring considerably more steel support.@@@@1@30@@oe@2-2-2013
21667025@unknown@formal@none@1@S@The northern piers of the span lie in estuarian deposits that were of a type to have liquefied easily during the 1906 quake.@@@@1@23@@oe@2-2-2013
21667026@unknown@formal@none@1@S@Transportation department officials, however, said they were as surprised as anyone by the Cypress destruction.@@@@1@15@@oe@2-2-2013
21667027@unknown@formal@none@1@S@They said previous earthquakes suggested that multiple-column viaducts would stand up well, although they were working on ways to bolster them.@@@@1@21@@oe@2-2-2013
21667028@unknown@formal@none@1@S@"Unfortunately, there is only one laboratory for developing techniques to withstand earthquakes, and that is an earthquake," said Burch Bachtold, San Francisco district director for the transportation department.@@@@1@28@@oe@2-2-2013
21667029@unknown@formal@none@1@S@He said: "We know of no technology that exists anywhere in the world that would allow us to" reinforce the columns.@@@@1@21@@oe@2-2-2013
21668001@unknown@formal@none@1@S@Financial Corp. of Santa Barbara said it rescheduled to Nov. 29 a special shareholder meeting to vote on a $75 million stock-for-debt exchange.@@@@1@23@@oe@2-2-2013
21668002@unknown@formal@none@1@S@The meeting had been scheduled for Nov. 10 but the company delayed the meeting to allow time for the Securities and Exchange Commission to review the proposal.@@@@1@27@@oe@2-2-2013
21668003@unknown@formal@none@1@S@As part of a restructuring announced earlier this year, the company proposed in August to exchange 168 newly issued common shares for each $1,000 face value of debt.@@@@1@28@@oe@2-2-2013
21668004@unknown@formal@none@1@S@However, that figure could be revised, Financial Corp. said.@@@@1@9@@oe@2-2-2013
21668005@unknown@formal@none@1@S@Currently, the company has about six million common shares outstanding.@@@@1@10@@oe@2-2-2013
21668006@unknown@formal@none@1@S@If all the debt was converted, about 13 million new shares would be issued.@@@@1@14@@oe@2-2-2013
21668007@unknown@formal@none@1@S@In composite trading Wednesday on the New York Stock Exchange, Financial Corp. closed at $1.125, unchanged.@@@@1@16@@oe@2-2-2013
21668008@unknown@formal@none@1@S@The debt consists of $50 million of 13 3/8% subordinated notes due 1998, and $25 million of 9% convertible subordinated debentures due 2012.@@@@1@23@@oe@2-2-2013
21668009@unknown@formal@none@1@S@Financial Corp. also is proposing to exchange each of its 130,000 outstanding shares of cumulative convertible preferred series A stock for two shares of common.@@@@1@25@@oe@2-2-2013
21669001@unknown@formal@none@1@S@After years of quarreling over Bonn's "Ostpolitik", West Germany and the U.S. appear to have shifted onto a united course in Eastern Europe.@@@@1@23@@oe@2-2-2013
21669002@unknown@formal@none@1@S@Bonn and Washington have taken a leading role in aid for the reformist countries, pledging billions of dollars in fresh credit and forgiving old debt while urging other industrial nations to follow suit.@@@@1@33@@oe@2-2-2013
21669003@unknown@formal@none@1@S@Both hope to encourage pressure for change in East bloc countries still ruled by Stalinist holdouts by arranging liberal financial aid and trade benefits for Poland, Hungary and, to a lesser extent, the Soviet Union.@@@@1@35@@oe@2-2-2013
21669004@unknown@formal@none@1@S@West German officials also have the special goal of holding out hope for East Germany's fledgling reform movement.@@@@1@18@@oe@2-2-2013
21669005@unknown@formal@none@1@S@"The change taking place in the Soviet Union, Poland and Hungary has aroused new hope in both German states that reforms will be undertaken in {East Germany}, and that relations between the two German states, too, will get better," said Foreign Minister Hans-Dietrich Genscher.@@@@1@44@@oe@2-2-2013
21669006@unknown@formal@none@1@S@Addressing a conference of the New York-based Institute for East-West Security Studies in Frankfurt yesterday, Mr. Genscher said, "History will judge us by whether we have taken the opportunities that emerge from these reforms."@@@@1@34@@oe@2-2-2013
21669007@unknown@formal@none@1@S@The ultimate aim of Western support for East bloc reforms, he said, is to create "an equitable and stable peaceful order in Europe from the Atlantic to the Urals."@@@@1@29@@oe@2-2-2013
21669008@unknown@formal@none@1@S@Mr. Genscher and U.S. Secretary of Commerce Robert A. Mosbacher, in separate speeches at the conference, appealed for more Western contributions to economic reforms and business development in Hungary and Poland.@@@@1@31@@oe@2-2-2013
21669009@unknown@formal@none@1@S@Bonn and Washington are leading supporters of Poland's request for a $1 billion stand-by credit from the International Monetary Fund.@@@@1@20@@oe@2-2-2013
21669010@unknown@formal@none@1@S@"We want the bold programs of market development and political freedom in Hungary and in Poland to succeed.@@@@1@18@@oe@2-2-2013
21669011@unknown@formal@none@1@S@We are prepared to support those changes," said Mr. Mosbacher.@@@@1@10@@oe@2-2-2013
21669012@unknown@formal@none@1@S@U.S. curbs on the exports of sensitive technology to East bloc countries will remain in place, however.@@@@1@17@@oe@2-2-2013
21669013@unknown@formal@none@1@S@Meanwhile, the U.S. House of Representatives yesterday approved an $837.5 million aid package for Poland and Hungary that more than doubles the amount President Bush had requested.@@@@1@27@@oe@2-2-2013
21669014@unknown@formal@none@1@S@The package was brought to the House just 15 days after it was introduced, indicating Congress's eagerness to reward Poland and Hungary for their moves toward democracy and freemarket economic reforms.@@@@1@31@@oe@2-2-2013
21669015@unknown@formal@none@1@S@The legislation, approved 345-47 and sent to the Senate, establishes two enterprise funds, to be governed by independent nonprofit boards, which will make loans and investments in new business ventures in Hungary and Poland.@@@@1@34@@oe@2-2-2013
21669016@unknown@formal@none@1@S@The Polish fund would be seeded with $160 million, the Hungarian fund with $40 million.@@@@1@15@@oe@2-2-2013
21669017@unknown@formal@none@1@S@In addition, a group of 24 industrialized countries, including the U.S. and Japan and coordinated by the European Community Commission, has promised Poland and Hungary trade advice and a line of credit equivalent to $1.11 billion through the European Investment Bank, while the EC plans $222 million in direct aid.@@@@1@50@@oe@2-2-2013
21669018@unknown@formal@none@1@S@When Chancellor Helmut Kohl travels to Poland Nov. 9, he is expected to take with him a promise of three billion West German marks ($1.6 billion) in new credit guarantees for industrial projects.@@@@1@33@@oe@2-2-2013
21669019@unknown@formal@none@1@S@Last week, Bonn agreed to reschedule 2.5 billion marks in Polish debt that came due last year.@@@@1@17@@oe@2-2-2013
21669020@unknown@formal@none@1@S@In addition, a one billion mark credit dating from 1974 is to be written off.@@@@1@15@@oe@2-2-2013
21669021@unknown@formal@none@1@S@Poland's plan to switch to a free-market economy by 1991 is hampered by a foreign debt load of $39.2 billion.@@@@1@20@@oe@2-2-2013
21669022@unknown@formal@none@1@S@West Germany also has increased its credit guarantees to Hungary by 500 million marks to 1.5 billion marks as the emerging democratic state rushes through its own economic reforms, including a broad privatization of state-owned industry and tax incentives for industrial investment.@@@@1@42@@oe@2-2-2013
21669023@unknown@formal@none@1@S@An additional 500 million marks in credit-backing was promised by the West German state governments of Bavaria and Baden-Wuerttemberg.@@@@1@19@@oe@2-2-2013
21669024@unknown@formal@none@1@S@Deutsche Bank AG, which last year arranged a three billion mark credit for the Soviet Union, is now moving to become the first West German bank to set up independent business offices in Hungary and Poland as they shift to free-market economies.@@@@1@42@@oe@2-2-2013
21669025@unknown@formal@none@1@S@A maxim of Frankfurt banking holds that wherever Deutsche Bank goes, other West German banks follow.@@@@1@16@@oe@2-2-2013
21669026@unknown@formal@none@1@S@Indeed, at least four other West German banks are believed to be making inquiries.@@@@1@14@@oe@2-2-2013
21670001@unknown@formal@none@1@S@Mattel Inc. said third-quarter net income rose 73%, to $38 million, or 76 cents a share, from $21.9 million, or 45 cents a share, a year ago.@@@@1@27@@oe@2-2-2013
21670002@unknown@formal@none@1@S@Revenue rose 34% to $410 million from $306.6 million a year earlier.@@@@1@12@@oe@2-2-2013
21670003@unknown@formal@none@1@S@"Mattel's world-wide volume has grown 25% in a climate of relatively flat industry sales," said John W. Amerman, chairman.@@@@1@19@@oe@2-2-2013
21670004@unknown@formal@none@1@S@He said the toy company's "prospects for a strong fourth quarter" are also good.@@@@1@14@@oe@2-2-2013
21670005@unknown@formal@none@1@S@Mattel attributed the jump in quarter net to strong world-wide sales of its Barbie doll, Hot Wheels cars, Disney toys and other well-known toy lines.@@@@1@25@@oe@2-2-2013
21670006@unknown@formal@none@1@S@The company also cited retail trade and consumer demand for new products introduced this year, such as Cherry Merry Muffin and Turtle Tots.@@@@1@23@@oe@2-2-2013
21670007@unknown@formal@none@1@S@For the nine months, Mattel net more than doubled to $58.9 million, or $1.19 a share, from $25.4 million, or 53 cents a share, a year ago.@@@@1@27@@oe@2-2-2013
21670008@unknown@formal@none@1@S@Revenue rose 25%, to $877.6 million, from $702.4 million.@@@@1@9@@oe@2-2-2013
21670009@unknown@formal@none@1@S@Mattel said the company's sale of rights to land and buildings at its Hawthorne, Calif., headquarters resulted in a $13 million charge to third-quarter operating profit.@@@@1@26@@oe@2-2-2013
21670010@unknown@formal@none@1@S@The charge didn't affect net for the quarter as it was offset by tax benefits.@@@@1@15@@oe@2-2-2013
21670011@unknown@formal@none@1@S@Mattel has purchased a new headquarters building in El Segundo, Calif., which it will occupy by the end of next year.@@@@1@21@@oe@2-2-2013
21671001@unknown@formal@none@1@S@Democracy can be cruel to politicians: Sometimes it forces them to make choices.@@@@1@13@@oe@2-2-2013
21671002@unknown@formal@none@1@S@Now that the Supreme Court opened the door on the subject of abortion, politicians are squinting under the glare of democratic choice.@@@@1@22@@oe@2-2-2013
21671003@unknown@formal@none@1@S@Their discomfort is a healthy sign for the rest of us.@@@@1@11@@oe@2-2-2013
21671004@unknown@formal@none@1@S@Republicans are squinting most painfully, at least at first, which is only fair because they've been shielded the most.@@@@1@19@@oe@2-2-2013
21671005@unknown@formal@none@1@S@So long as abortion was a question for litigation, not legislation, Republicans could find political security in absolutism.@@@@1@18@@oe@2-2-2013
21671006@unknown@formal@none@1@S@They could attract one-issue voters by adopting the right-to-life movement's strongest position, even as pro-choice Republicans knew this mattered little on an issue monopolized by the court.@@@@1@27@@oe@2-2-2013
21671007@unknown@formal@none@1@S@Now it matters.@@@@1@3@@oe@2-2-2013
21671008@unknown@formal@none@1@S@Much of Washington thought it detected George Bush in a characteristic waffle on abortion the past week.@@@@1@17@@oe@2-2-2013
21671009@unknown@formal@none@1@S@Only a month ago he'd warned Congress not to pass legislation to pay for abortions in cases of rape or incest.@@@@1@21@@oe@2-2-2013
21671010@unknown@formal@none@1@S@Last Friday, after Congress passed it anyway, he hinted he was looking for compromise.@@@@1@14@@oe@2-2-2013
21671011@unknown@formal@none@1@S@Was the man who once was pro-choice, but later pro-life, converting again?@@@@1@12@@oe@2-2-2013
21671012@unknown@formal@none@1@S@In fact, Mr. Bush's dance was more wiggle than waffle.@@@@1@10@@oe@2-2-2013
21671013@unknown@formal@none@1@S@Pro-life advocates say the White House never wavered over the veto.@@@@1@11@@oe@2-2-2013
21671014@unknown@formal@none@1@S@Christopher Smith (R., N.J.), a pro-life leader in the House, suggested a compromise that would have adapted restrictive language from rape and incest exceptions in the states.@@@@1@27@@oe@2-2-2013
21671015@unknown@formal@none@1@S@The White House, never eager for a fight, was happy to try, which is why George Bush said he was looking for "flexibility" last week.@@@@1@25@@oe@2-2-2013
21671016@unknown@formal@none@1@S@When Democrats refused to budge, pro-life Republicans met at the White House with Chief of Staff John Sununu on Monday, and Mr. Bush quickly signaled a veto.@@@@1@27@@oe@2-2-2013
21671017@unknown@formal@none@1@S@Amid charges of "timidity" on Panama and elsewhere, the president wasn't about to offend his most energetic constituency.@@@@1@18@@oe@2-2-2013
21671018@unknown@formal@none@1@S@The GOP doubters were in Congress.@@@@1@6@@oe@2-2-2013
21671019@unknown@formal@none@1@S@In last week's House vote, 41 Republicans defected.@@@@1@8@@oe@2-2-2013
21671020@unknown@formal@none@1@S@After the vote, Connecticut Rep. Nancy Johnson rounded up nearly as many signatures on a letter to Mr. Bush urging him not to veto.@@@@1@24@@oe@2-2-2013
21671021@unknown@formal@none@1@S@Even such a pro-life stalwart as Sen. Orrin Hatch (R., Utah) had counseled some kind of compromise.@@@@1@17@@oe@2-2-2013
21671022@unknown@formal@none@1@S@The Senate passed the same bill yesterday, with a veto-proof majority of 67.@@@@1@13@@oe@2-2-2013
21671023@unknown@formal@none@1@S@The manuevering illustrates an emerging Republican donnybrook, pacified since the early 1980s.@@@@1@12@@oe@2-2-2013
21671024@unknown@formal@none@1@S@At the 1988 GOP convention, abortion was barely discussed at all, though delegates were evenly divided on the question of an anti-abortion constitutional amendment.@@@@1@24@@oe@2-2-2013
21671025@unknown@formal@none@1@S@Ms. Johnson made a passionate statement to the platform committee, but she was talking to herself.@@@@1@16@@oe@2-2-2013
21671026@unknown@formal@none@1@S@Now many Republicans are listening.@@@@1@5@@oe@2-2-2013
21671027@unknown@formal@none@1@S@They're frightened by what they see in New Jersey, and especially Virginia, where pro-life GOP candidates for governor are being pummeled on abortion.@@@@1@23@@oe@2-2-2013
21671028@unknown@formal@none@1@S@Eddie Mahe, a Republican consultant, says the two GOP candidates could have avoided trouble if they had framed the issue first.@@@@1@21@@oe@2-2-2013
21671029@unknown@formal@none@1@S@(In Virginia, Marshall Coleman and his running mate, Eddy Dalton, are both on the defensive for opposing abortions even in cases of rape or incest.)@@@@1@25@@oe@2-2-2013
21671030@unknown@formal@none@1@S@But Mr. Mahe adds, "The net loser in the next few years is the right-to-life side."@@@@1@16@@oe@2-2-2013
21671031@unknown@formal@none@1@S@Darla St. Martin, of the National Right to Life Committee, says exit polls from the 1988 election had single-issue, pro-life voters giving Mr. Bush about five more percentage points of support than pro-choice voters gave Michael Dukakis.@@@@1@37@@oe@2-2-2013
21671032@unknown@formal@none@1@S@But the Supreme Court's opening of debate may have changed even that.@@@@1@12@@oe@2-2-2013
21671033@unknown@formal@none@1@S@GOP pollster Neil Newhouse, of the Wirthlin Group, says polls this summer showed that the single-issue voters had about evened out.@@@@1@21@@oe@2-2-2013
21671034@unknown@formal@none@1@S@Polls are no substitute for principle, but they'll do for some politicians.@@@@1@12@@oe@2-2-2013
21671035@unknown@formal@none@1@S@The Republican danger is that abortion could become for them what it's long been for Democrats, a divisive litmus test.@@@@1@20@@oe@2-2-2013
21671036@unknown@formal@none@1@S@It's already that in the Bush administration, at least for any job in which abortion is even remotely an issue.@@@@1@20@@oe@2-2-2013
21671037@unknown@formal@none@1@S@Oklahoma official Robert Fulton lost a chance for a senior job in the Department of Health and Human Services after right-to-life activists opposed him.@@@@1@24@@oe@2-2-2013
21671038@unknown@formal@none@1@S@Caldwell Butler, a conservative former congressman, was barred from a Legal Services post, after he gave wrong answers on abortion.@@@@1@20@@oe@2-2-2013
21671039@unknown@formal@none@1@S@Even the president's doctor, Burton Lee, has said on the record that he'd love to be surgeon general but couldn't pass the pro-life test.@@@@1@24@@oe@2-2-2013
21671040@unknown@formal@none@1@S@In the case of HHS Secretary Louis Sullivan, the litmus test could yet damage issues important to other parts of the Republican coalition.@@@@1@23@@oe@2-2-2013
21671041@unknown@formal@none@1@S@After Mr. Sullivan waffled on abortion last year, the White House appeased right-to-lifers by surrounding him with pro-life deputies.@@@@1@19@@oe@2-2-2013
21671042@unknown@formal@none@1@S@Their views on health care and welfare didn't much matter, though HHS spends billions a year on both.@@@@1@18@@oe@2-2-2013
21671043@unknown@formal@none@1@S@It makes only a handful of abortion-related decisions.@@@@1@8@@oe@2-2-2013
21671044@unknown@formal@none@1@S@Though Democrats can gloat at all this for now, they may want to contain their glee.@@@@1@16@@oe@2-2-2013
21671045@unknown@formal@none@1@S@On abortion, their own day will come.@@@@1@7@@oe@2-2-2013
21671046@unknown@formal@none@1@S@Eventually even Republicans will find a way to frame the issue in ways that expose pro-choice absolutism.@@@@1@17@@oe@2-2-2013
21671047@unknown@formal@none@1@S@Does the candidate favor parental consent for teen-age abortions?@@@@1@9@@oe@2-2-2013
21671048@unknown@formal@none@1@S@(The pro-choice lobby doesn't.@@@@1@4@@oe@2-2-2013
21671049@unknown@formal@none@1@S@) What about banning abortions in the second and third trimesters?@@@@1@11@@oe@2-2-2013
21671050@unknown@formal@none@1@S@(The lobby says no again.)@@@@1@5@@oe@2-2-2013
21671051@unknown@formal@none@1@S@Democracy is forcing the abortion debate toward healthy compromise, toward the unpolarizing middle.@@@@1@13@@oe@2-2-2013
21671052@unknown@formal@none@1@S@Roe v. Wade pre-empted political debate, so the extremes blossomed.@@@@1@10@@oe@2-2-2013
21671053@unknown@formal@none@1@S@Now the ambivalent middle, a moral majority of sorts, is reasserting itself.@@@@1@12@@oe@2-2-2013
21671054@unknown@formal@none@1@S@Within a few years, the outcome in most states is likely to be that abortion will be more restricted, but not completely banned.@@@@1@23@@oe@2-2-2013
21671055@unknown@formal@none@1@S@This is where the voters are, which is where politicians usually end up.@@@@1@13@@oe@2-2-2013
21672001@unknown@formal@none@1@S@Union Pacific Corp. third-quarter net income fell 17%.@@@@1@8@@oe@2-2-2013
21672002@unknown@formal@none@1@S@Excluding earnings from discontinued operations a year earlier, net fell only 2%.@@@@1@12@@oe@2-2-2013
21672003@unknown@formal@none@1@S@The energy, natural resources and railroad concern had net of $137.4 million, or $1.35 a share, down from $165 million, or $1.44 a share, a year earlier.@@@@1@27@@oe@2-2-2013
21672004@unknown@formal@none@1@S@In the 1988 third quarter, profit from continuing operations totaled $140.1 million.@@@@1@12@@oe@2-2-2013
21672005@unknown@formal@none@1@S@A year earlier, the company had profit from discontinued operations of $24.9 million from sale of a pipeline, a refinery and an interest in a second refinery.@@@@1@27@@oe@2-2-2013
21672006@unknown@formal@none@1@S@Revenue rose 2% to $1.58 billion from $1.54 billion.@@@@1@9@@oe@2-2-2013
21672007@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Union Pacific jumped $1.375 to $75 a share.@@@@1@17@@oe@2-2-2013
21672008@unknown@formal@none@1@S@The company said its Union Pacific Railroad had a 3% profit increase, despite a 14% rise in fuel costs and a 4% drop in car loadings.@@@@1@26@@oe@2-2-2013
21672009@unknown@formal@none@1@S@Most of the commodity traffic was off, the company said.@@@@1@10@@oe@2-2-2013
21672010@unknown@formal@none@1@S@Earnings from continuing operations of the Union Pacific Resources unit almost doubled, the company said.@@@@1@15@@oe@2-2-2013
21672011@unknown@formal@none@1@S@It added that higher revenue, strong crude oil prices and higher natural gas prices offset declines in production of oil, gas and plant liquids.@@@@1@24@@oe@2-2-2013
21672012@unknown@formal@none@1@S@In addition, the company cited cost-reduction moves and interest income.@@@@1@10@@oe@2-2-2013
21672013@unknown@formal@none@1@S@Earnings from Union Pacific Realty dropped 50% to $3 million.@@@@1@10@@oe@2-2-2013
21672014@unknown@formal@none@1@S@Before good will, Overnite Transportation earnings fell 11% to $15 million, Union Pacific said.@@@@1@14@@oe@2-2-2013
21672015@unknown@formal@none@1@S@In the nine months, net fell 6.3% to $427.7 million, or $3.98 a share, from $456.4 million, or $4 a share, a year earlier.@@@@1@24@@oe@2-2-2013
21672016@unknown@formal@none@1@S@Profit from continuing operations in the year-earlier period was $402.7 million.@@@@1@11@@oe@2-2-2013
21672017@unknown@formal@none@1@S@Revenue was $4.75 billion, up 6% from $4.49 billion.@@@@1@9@@oe@2-2-2013
21673001@unknown@formal@none@1@S@The Federal Trade Commission ruled that five major title-insurance companies illegally fixed prices for title search-and-examination services by participating in joint "rating bureaus" in six states.@@@@1@26@@oe@2-2-2013
21673002@unknown@formal@none@1@S@The FTC ordered the companies not to use rating bureaus in those six states.@@@@1@14@@oe@2-2-2013
21673003@unknown@formal@none@1@S@The commission order named the following companies: Ticor Title Insurance Co. of California, a unit of Los Angeles-based Ticor; Chicago Title Insurance Co. and Safeco Title Insurance Co., units of Chicago Title & Trust Co.; Lawyers Title Insurance Corp., a unit of Richmond, Va.-based Universal Corp.; and Stewart Title Guaranty Co., a unit of Houston-based Stewart Information Services Corp.@@@@1@59@@oe@2-2-2013
21673004@unknown@formal@none@1@S@Chicago Title & Trust acquired Safeco in 1987 and changed the unit's name to Security Union Title Insurance Co.@@@@1@19@@oe@2-2-2013
21673005@unknown@formal@none@1@S@The FTC ruled that the companies violated federal antitrust law by fixing rates in the following states: New Jersey, Pennsylvania, Connecticut, Wisconsin, Arizona and Montana.@@@@1@25@@oe@2-2-2013
21673006@unknown@formal@none@1@S@The FTC first issued an administrative complaint in the case in 1985.@@@@1@12@@oe@2-2-2013
21673007@unknown@formal@none@1@S@John Christie, a lawyer here for the two Chicago Title & Trust units accused the FTC of "second-guessing" state-level regulations, with which, he said, his clients had complied.@@@@1@28@@oe@2-2-2013
21673008@unknown@formal@none@1@S@"I expect all the companies to appeal," he added.@@@@1@9@@oe@2-2-2013
21673009@unknown@formal@none@1@S@A lawyer for Lawyers Title said that, because the named companies no longer use the type of cooperative rating bureaus attacked by the FTC, the commission's order won't have much practical impact.@@@@1@32@@oe@2-2-2013
21673010@unknown@formal@none@1@S@Officials for the other named companies didn't return telephone calls seeking comment.@@@@1@12@@oe@2-2-2013
21674001@unknown@formal@none@1@S@MARK RESOURCES INC., Calgary, Alberta, said it agreed to sell 75 million Canadian dollars (US$63.9 million) of 8% convertible debentures to a group of securities dealers.@@@@1@26@@oe@2-2-2013
21674002@unknown@formal@none@1@S@Mark, an oil and gas concern, said the 15-year debentures are convertible before maturity at C$12.50 for each Mark common share, and can be redeemed at the company's option, under certain conditions, after Nov. 30, 1992.@@@@1@36@@oe@2-2-2013
21675001@unknown@formal@none@1@S@The government will try to sell all the real estate managed by the Federal Asset Disposition Association in one fell swoop, said William Seidman, chairman of the Federal Deposit Insurance Corp.@@@@1@31@@oe@2-2-2013
21675002@unknown@formal@none@1@S@The FADA real-estate package, with an asking price of $428 million, is comprised of 150 properties in Texas, California, Colorado, Arizona and Florida.@@@@1@23@@oe@2-2-2013
21675003@unknown@formal@none@1@S@It includes apartments, shopping centers, office buildings and undeveloped land.@@@@1@10@@oe@2-2-2013
21675004@unknown@formal@none@1@S@Mr. Seidman is chairman of the Resolution Trust Corp., established to sell or merge the nation's hundreds of insolvent savings-and-loan associations.@@@@1@21@@oe@2-2-2013
21675005@unknown@formal@none@1@S@The RTC, created by this year's S&L bailout legislation, is trying to sell FADA's network of offices separately.@@@@1@18@@oe@2-2-2013
21675006@unknown@formal@none@1@S@FADA, which holds problem assets of thrifts that were closed before the bailout legislation was enacted, is being liquidated.@@@@1@19@@oe@2-2-2013
21675007@unknown@formal@none@1@S@The properties held by FADA won't be sold piecemeal, Mr. Seidman said in a speech before Southern Methodist University Business School in Dallas.@@@@1@23@@oe@2-2-2013
21675008@unknown@formal@none@1@S@"You need to buy the entire lot," Mr. Seidman said, "so get out your checkbooks.@@@@1@15@@oe@2-2-2013
21676001@unknown@formal@none@1@S@The following were among yesterday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
21676002@unknown@formal@none@1@S@Sequa Corp. -- $150 million of 9 5/8% notes due Oct. 15, 1999, priced at 99.75 to yield 9.664%.@@@@1@19@@oe@2-2-2013
21676003@unknown@formal@none@1@S@The noncallable issue was priced at a spread of 170 basis points above the Treasury's 10-year note.@@@@1@17@@oe@2-2-2013
21676004@unknown@formal@none@1@S@Rated Baa-2 by Moody's Investors Service Inc. and triple-B-minus by Standard & Poor's Corp., the issue will be sold through underwriters led by Merrill Lynch Capital Markets.@@@@1@27@@oe@2-2-2013
21676005@unknown@formal@none@1@S@Virginia Public School Authority -- $55.7 million of school financing bonds, 1989 Series B (1987 resolution), due 19912000, 2005 and 2010, through a BT Securities Corp. group.@@@@1@27@@oe@2-2-2013
21676006@unknown@formal@none@1@S@The bonds, rated double-A by Moody's and S&P, were priced to yield from 6% in 1991 to 7.10% in 2010.@@@@1@20@@oe@2-2-2013
21676007@unknown@formal@none@1@S@Serial bonds were priced to yield to 6.75% in 2000.@@@@1@10@@oe@2-2-2013
21676008@unknown@formal@none@1@S@Bonds due 1991-1996 carry 6.70% coupons and bonds due 1997-2000 carry 6 3/4% coupons.@@@@1@14@@oe@2-2-2013
21676009@unknown@formal@none@1@S@Term bonds due 2005 aren't being formally reoffered.@@@@1@8@@oe@2-2-2013
21676010@unknown@formal@none@1@S@They carry a 7% coupon.@@@@1@5@@oe@2-2-2013
21676011@unknown@formal@none@1@S@Term bonds due 2010 are 7.10% securities priced at par.@@@@1@10@@oe@2-2-2013
21676012@unknown@formal@none@1@S@St. Johns River Water Management District, Fla. -- $50,005,000 of land acquisition revenue bonds, Series 1989, due 1990-2000, 2003, 2006 and 2009, tentatively priced by a Smith Barney, Harris Upham & Co. group to yield from 6% in 1990 to about 7.03% in 2003.@@@@1@44@@oe@2-2-2013
21676013@unknown@formal@none@1@S@There are $9.76 million of 7% term bonds due 2003, priced at 99 3/4 to yield about 7.03%.@@@@1@18@@oe@2-2-2013
21676014@unknown@formal@none@1@S@The $11,775,000 of term bonds due 2006 and the $13,865,000 of term bonds due 2009 aren't being formally reoffered.@@@@1@19@@oe@2-2-2013
21676015@unknown@formal@none@1@S@Serial bonds were priced at par to yield to 6.90% in 2000.@@@@1@12@@oe@2-2-2013
21676016@unknown@formal@none@1@S@The bonds are insured and rated triple-A by Moody's and S&P.@@@@1@11@@oe@2-2-2013
21676017@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. -- $500 million of Remic mortgage securities being offered in 12 classes by Salomon Brothers Inc.@@@@1@21@@oe@2-2-2013
21676018@unknown@formal@none@1@S@The offering, Series 105, is backed by Freddie Mac 9 1/2% securities.@@@@1@12@@oe@2-2-2013
21676019@unknown@formal@none@1@S@Separately, $400 million of Freddie Mac Remic mortgage securities is being offered in 10 classes by Kidder, Peabody & Co.@@@@1@20@@oe@2-2-2013
21676020@unknown@formal@none@1@S@The offering, Series 106, is backed by Freddie Mac 9 1/2% securities.@@@@1@12@@oe@2-2-2013
21676021@unknown@formal@none@1@S@According to available details, yields range from 8.70%, a spread of 80 basis points over three-year Treasury securities, to 10.37%, a spread of 230 basis points over 20-year Treasurys.@@@@1@29@@oe@2-2-2013
21676022@unknown@formal@none@1@S@The offerings bring Freddie Mac's 1989 Remic issuance to $32.6 billion and its total volume to $46.5 billion since the program began in February 1988.@@@@1@25@@oe@2-2-2013
21676023@unknown@formal@none@1@S@European Investment Bank (agency) -- 200 billion lire of 12% bonds due Nov. 16, 1995, priced at 101 3/4 to yield 12% less full fees, via lead manager Banco Commercial Italiana.@@@@1@31@@oe@2-2-2013
21676024@unknown@formal@none@1@S@Fees 1 3/4.@@@@1@3@@oe@2-2-2013
21676025@unknown@formal@none@1@S@IBM International Finance (U.S. parent) -- 125 million European currency units of 9 1/8% bonds due Nov. 10, 1994, priced at 101 5/8 to yield 9.13% at the recommended reoffered price of par, via Banque Paribas Capital Markets.@@@@1@38@@oe@2-2-2013
21676026@unknown@formal@none@1@S@Societe Generale Australia Ltd. (French parent) -- 50 million Australian dollars of 17% bonds due Nov. 20, 1991, priced at 101.90 to yield 16.59 less fees, via Westpac Banking Corp.@@@@1@30@@oe@2-2-2013
21676027@unknown@formal@none@1@S@Guaranteed by Societe Generale.@@@@1@4@@oe@2-2-2013
21676028@unknown@formal@none@1@S@Fees 1 1/4.@@@@1@3@@oe@2-2-2013
21676029@unknown@formal@none@1@S@Mitsubishi Trust & Banking Corp. (Japan) -- 200 million Swiss francs of privately placed convertible notes due March 31, 1994, with a fixed 0.75% coupon at par, via Union Bank of Switzerland.@@@@1@32@@oe@2-2-2013
21676030@unknown@formal@none@1@S@Put option on March 31, 1992, at a fixed 107 3/4 to yield 3.5%.@@@@1@14@@oe@2-2-2013
21676031@unknown@formal@none@1@S@Callable from March 31, 1992, at 107 3/4, declining two points semi-annually to par.@@@@1@14@@oe@2-2-2013
21676032@unknown@formal@none@1@S@Each 50,000 Swiss franc note is convertible from Nov, 27, 1989, to March 21, 1994, at a premium over the closing share price Oct. 25, when terms are scheduled to be fixed.@@@@1@32@@oe@2-2-2013
21676033@unknown@formal@none@1@S@Also, the company issued 300 million marks of convertible bonds with an indicated 2 3/4% coupon due March 31, 1995, at par, via Westdeutsche Landesbank Girozentrale Bank.@@@@1@27@@oe@2-2-2013
21676034@unknown@formal@none@1@S@Put on March 31, 1992, at an indicated 105 to yield 4.80%.@@@@1@12@@oe@2-2-2013
21676035@unknown@formal@none@1@S@Call option beginning March 31, 1992, if the price of the stock rises more than 50% within 30 trading days as well as a call option for tax reasons.@@@@1@29@@oe@2-2-2013
21676036@unknown@formal@none@1@S@Each 1,000 mark and 10,000 mark bond is convertible from Nov. 27, 1989, to March 21, 1995, at a price to be determined when terms are fixed Oct. 25.@@@@1@29@@oe@2-2-2013
21676037@unknown@formal@none@1@S@Scandinavian Airlines System (Sweden) -- 100 million Swiss francs of 6 1/8% bonds due Nov. 24, 1999, priced at 100 3/4 to yield 6.03%, via Union Bank of Switzerland.@@@@1@29@@oe@2-2-2013
21676038@unknown@formal@none@1@S@Call from Nov. 24, 1994, at 101 1/2, declining 1/4 point a year.@@@@1@13@@oe@2-2-2013
21676039@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. -- $400 million of 10-year debentures with a coupon rate of 8.80%, priced at par.@@@@1@20@@oe@2-2-2013
21676040@unknown@formal@none@1@S@The debentures, callable at par in five years, were priced at a yield spread of about 86 basis points above the Treasury 10-year note.@@@@1@24@@oe@2-2-2013
21676041@unknown@formal@none@1@S@The issue is being sold through Freddie Mac's 17-member securities selling group.@@@@1@12@@oe@2-2-2013
21676042@unknown@formal@none@1@S@The debentures mature Oct. 27, 1999.@@@@1@6@@oe@2-2-2013
21676043@unknown@formal@none@1@S@The debentures will be available in book-entry form only in a minimum amount of $5,000 and additional increments of $5,000.@@@@1@20@@oe@2-2-2013
21676044@unknown@formal@none@1@S@Interest will be paid semi-annually.@@@@1@5@@oe@2-2-2013
21677001@unknown@formal@none@1@S@First they get us to buy computers so we can get more information.@@@@1@13@@oe@2-2-2013
21677002@unknown@formal@none@1@S@Then the computers give us more information than we can ever read.@@@@1@12@@oe@2-2-2013
21677003@unknown@formal@none@1@S@Now they plan to sell us products that sift through all the information to give us what we really want to know.@@@@1@22@@oe@2-2-2013
21677004@unknown@formal@none@1@S@The products range from computer-edited, personal newsletters to systems that sit inside a personal computer and pick stories on selected topics off news wires.@@@@1@24@@oe@2-2-2013
21677005@unknown@formal@none@1@S@"Filtered news is what people want," says Esther Dyson, editor of Release 1.0, an industry newsletter that spots new developments.@@@@1@20@@oe@2-2-2013
21677006@unknown@formal@none@1@S@"Most people read 10 times more than necessary in order to find out what they really need."@@@@1@17@@oe@2-2-2013
21677007@unknown@formal@none@1@S@Geoffrey Goodfellow, who dropped out of high school back in the 1970s to manage a computer network at a California research firm, says: "Old network hands have started to turn off the network because they don't have time to wade through the muck."@@@@1@43@@oe@2-2-2013
21677008@unknown@formal@none@1@S@Mr. Goodfellow has started a Menlo Park, Calif., company called Anterior Technology that provides human editors for public electronic networks.@@@@1@20@@oe@2-2-2013
21677009@unknown@formal@none@1@S@"I see it as a sewage treatment plant," he says.@@@@1@10@@oe@2-2-2013
21677010@unknown@formal@none@1@S@A new product, NewsEdge, carries five business news wires simultaneously into a user's computer and beeps and flashes whenever an article appears that is of interest to the user.@@@@1@29@@oe@2-2-2013
21677011@unknown@formal@none@1@S@The product, developed by Desktop Data Corp., a new company based in Waltham, Mass., scans the wires looking for articles that contain key words specified by the user.@@@@1@28@@oe@2-2-2013
21677012@unknown@formal@none@1@S@One early user, David Semmel, a Chicago venture capitalist and investor in Desktop Data, says he uses it to track takeover developments.@@@@1@22@@oe@2-2-2013
21677013@unknown@formal@none@1@S@He says he told NewsEdge to look for stories containing such words as takeover, acquisition, acquire, LBO, tender, merger, junk and halted.@@@@1@22@@oe@2-2-2013
21677014@unknown@formal@none@1@S@"I'm pretty confident I'm catching everything," he says.@@@@1@8@@oe@2-2-2013
21677015@unknown@formal@none@1@S@NewsEdge is pricey: $7,500 a year for a limited version, $40,000 a year if the cost of all the news wires is included.@@@@1@23@@oe@2-2-2013
21677016@unknown@formal@none@1@S@And it works best in high-powered personal computers.@@@@1@8@@oe@2-2-2013
21677017@unknown@formal@none@1@S@But some investors and consultants who have tried it are enthusiastic.@@@@1@11@@oe@2-2-2013
21677018@unknown@formal@none@1@S@Jeffrey Tarter, editor of SoftLetter, a Watertown, Mass., industry newsletter, says: "I've seen a lot of people fooling around on the fringes of filtering information.@@@@1@25@@oe@2-2-2013
21677019@unknown@formal@none@1@S@This is the first time I've seen something I could imagine a lot of people using."@@@@1@16@@oe@2-2-2013
21677020@unknown@formal@none@1@S@NewsEdge uses an FM radio band to carry news wires provided by Reuters, McGraw-Hill and Dow Jones & Co., as well as PR Newswire, which carries corporate press releases.@@@@1@29@@oe@2-2-2013
21677021@unknown@formal@none@1@S@An FM receiver attached to a user's personal computer receives the information.@@@@1@12@@oe@2-2-2013
21677022@unknown@formal@none@1@S@Some organizations have devised their own systems to sort through news wire items as they come in.@@@@1@17@@oe@2-2-2013
21677023@unknown@formal@none@1@S@George Goodwin, an account manager at Royal Bank of Canada, adapted a Lotus Development Corp. program called Agenda to sort through international news wires.@@@@1@24@@oe@2-2-2013
21677024@unknown@formal@none@1@S@It automatically selects stories from particular countries for reading by the international bankers responsible for lending in those areas.@@@@1@19@@oe@2-2-2013
21677025@unknown@formal@none@1@S@For those who don't need their personalized information moment by moment, some services are offering overnight newsletters.@@@@1@17@@oe@2-2-2013
21677026@unknown@formal@none@1@S@Individual Inc., a new company in Brookline, Mass., uses filtering technology developed by Cornell University computer scientist Gerard Salton, to automatically produce customized newsletters it sends electronically to subscribers by 8 a.m. the next day.@@@@1@35@@oe@2-2-2013
21677027@unknown@formal@none@1@S@"We are operating an information refinery that takes a broad stream of raw data and turns it into actionable knowledge," says Yosi Amram, founder and president.@@@@1@26@@oe@2-2-2013
21677028@unknown@formal@none@1@S@The daily newsletter, which isn't widely available yet, will have a base cost of $2,000 a year and provides full text of relevant articles under license agreements with Reuters, McGraw Hill, United Press International, two press release news wires and Japan's Kyodo news service.@@@@1@44@@oe@2-2-2013
21677029@unknown@formal@none@1@S@One early user is NEC Corp.'s U.S. printer marketing arm.@@@@1@10@@oe@2-2-2013
21677030@unknown@formal@none@1@S@"They want the full press releases on printer announcements by their competition," Mr. Amram says.@@@@1@15@@oe@2-2-2013
21677031@unknown@formal@none@1@S@It also tracks personnel and financial announcements by NEC's distributors and customers.@@@@1@12@@oe@2-2-2013
21677032@unknown@formal@none@1@S@Individual Inc.'s technology goes beyond word searches by using a computerized thesaurus.@@@@1@12@@oe@2-2-2013
21677033@unknown@formal@none@1@S@If a customer asks for stories about "IBM," the computer will also supply stories that mention "I.B.M., International Business Machines, or Big Blue," Mr. Amram says.@@@@1@26@@oe@2-2-2013
21677034@unknown@formal@none@1@S@Moreover, Individual Inc.'s computers can weigh the value of an article based on how closely the story matches the subscriber's interest area.@@@@1@22@@oe@2-2-2013
21677035@unknown@formal@none@1@S@It compares the position of key words in the story; words in the headline or first paragraph get a higher value.@@@@1@21@@oe@2-2-2013
21677036@unknown@formal@none@1@S@And it calculates how often the words appear in the story compared with how often they appear in the entire data base.@@@@1@22@@oe@2-2-2013
21677037@unknown@formal@none@1@S@The higher the ratio of hits to total words, the higher the presumed value to the reader.@@@@1@17@@oe@2-2-2013
21677038@unknown@formal@none@1@S@Pinpoint Information Corp., Chantilly, Va., a producer of $1,800-a-year personalized newsletters about the computer industry that started full operation last month, relies on 12 human readers to code news releases by topic in order to select items for each subscriber.@@@@1@40@@oe@2-2-2013
21677039@unknown@formal@none@1@S@"The computers find all the key words they can, but the editors confirm every one.@@@@1@15@@oe@2-2-2013
21677040@unknown@formal@none@1@S@Computer picking isn't perfect," says Harvey Golomb, president and founder of Pinpoint.@@@@1@12@@oe@2-2-2013
21677041@unknown@formal@none@1@S@The humans also write abstracts of articles from some 200 computer industry publications.@@@@1@13@@oe@2-2-2013
21677042@unknown@formal@none@1@S@Once all the articles are coded and put in a data base, Pinpoint's computers pick the most relevant for each subscriber and lay them out in a three-to-five-page newsletter format; each newsletter is sent directly from the computer to the subscriber's fax machine.@@@@1@43@@oe@2-2-2013
21677043@unknown@formal@none@1@S@Mr. Golomb says each of his computers can produce and send about 75 unique newsletters a night.@@@@1@17@@oe@2-2-2013
21677044@unknown@formal@none@1@S@Many computer network users who never see news wires would like to sort through their electronic mail automatically.@@@@1@18@@oe@2-2-2013
21677045@unknown@formal@none@1@S@So-called E-mail is the collection of inter-office memos, gossip, technical data, schedules and directives distributed over local and national computer networks.@@@@1@21@@oe@2-2-2013
21677046@unknown@formal@none@1@S@"All these interconnected computers make it difficult to sort out what's junk and what's important," says Chuck Digate, a former Lotus Development executive who has started a new company to cope with the problem.@@@@1@34@@oe@2-2-2013
21677047@unknown@formal@none@1@S@Mr. Digate says his firm, Beyond Inc., has licensed technology known as Information Lens from Massachusetts Institute of Technology and plans to develop it for commercial use.@@@@1@27@@oe@2-2-2013
21677048@unknown@formal@none@1@S@The MIT project devised ways for E-mail to be automatically categorized as top priority if it comes from certain designated senders or requires action in the next couple of days.@@@@1@30@@oe@2-2-2013
21677049@unknown@formal@none@1@S@Mr. Digate says that Beyond will refine the product "so the message will be smart enough to know to come back and bother you again next week."@@@@1@27@@oe@2-2-2013
21677050@unknown@formal@none@1@S@And if a user is busy, "he can set it for crisis mode: `Don't bother me with reports until Monday.'"@@@@1@20@@oe@2-2-2013
21677051@unknown@formal@none@1@S@A program called Notes, which is under development by Lotus, also is designed to sort E-mail sent within work groups.@@@@1@20@@oe@2-2-2013
21677052@unknown@formal@none@1@S@One thing that makes E-mail difficult to sift through is that each item looks the same.@@@@1@16@@oe@2-2-2013
21677053@unknown@formal@none@1@S@Notes, which is designed for advanced computers that display graphics, allows mail senders to put different logos on their mail.@@@@1@20@@oe@2-2-2013
21677054@unknown@formal@none@1@S@A daily news briefing from the company librarian, for example, would have a distinctive format on the screen, just as a paper version would have.@@@@1@25@@oe@2-2-2013
21677055@unknown@formal@none@1@S@"With E-mail, you don't have the visual clues of paper," says Mr. Tarter, the editor of SoftLetter.@@@@1@17@@oe@2-2-2013
21677056@unknown@formal@none@1@S@"With Notes, they're visually distinct.@@@@1@5@@oe@2-2-2013
21678001@unknown@formal@none@1@S@Dean Witter Reynolds Inc. lost its second recent arbitration case involving a former bond-trading executive.@@@@1@15@@oe@2-2-2013
21678002@unknown@formal@none@1@S@A New York Stock Exchange arbitration panel ordered Dean Witter to pay $404,294 in back bonuses to William Kelly, the company's former head of high-yield, high-risk junk-bond trading and sales.@@@@1@30@@oe@2-2-2013
21678003@unknown@formal@none@1@S@It also awarded $196,785 in back bonuses to former trader Michael Newcomb and $69,105 in fees to the two men's attorneys.@@@@1@21@@oe@2-2-2013
21678004@unknown@formal@none@1@S@The sums awarded to Messrs. Kelly and Newcomb represent bonuses the two men said they deserved from the first half of 1988, but which weren't paid because of a dispute over an incentive contract.@@@@1@34@@oe@2-2-2013
21678005@unknown@formal@none@1@S@Jeffrey L. Liddle, the two men's attorney at Liddle, O'Connor, Finkelstein & Robinson, said Mr. Kelly began working at Dean Witter in 1987.@@@@1@23@@oe@2-2-2013
21678006@unknown@formal@none@1@S@Mr. Kelly built the company's high-yield bond group, which has been a minor player in the junk-bond arena.@@@@1@18@@oe@2-2-2013
21678007@unknown@formal@none@1@S@Dean Witter lost a separate case involving a former bond executive earlier this year; in August it paid $666,666 in back pay and a bonus to a former corporate-bond trading chief, Harold Bachman.@@@@1@33@@oe@2-2-2013
21678008@unknown@formal@none@1@S@That award ended a dispute between Dean Witter and Mr. Bachman over who was responsible for certain bond-trading losses around the time of the 1987 stock-market crash.@@@@1@27@@oe@2-2-2013
21678009@unknown@formal@none@1@S@A spokesman for Dean Witter, a unit of Sears, Roebuck & Co., declined to comment.@@@@1@15@@oe@2-2-2013
21679001@unknown@formal@none@1@S@DILLARD DEPARTMENT STORES Inc. said it offered $50 million of 9 1/2% debentures due 2001 at par.@@@@1@17@@oe@2-2-2013
21679002@unknown@formal@none@1@S@The Little Rock, Ark., department-store retailer said proceeds will be used to reduce short-term debt.@@@@1@15@@oe@2-2-2013
21679003@unknown@formal@none@1@S@Goldman, Sachs & Co. was the underwriter.@@@@1@7@@oe@2-2-2013
21680001@unknown@formal@none@1@S@American Brands Inc. said third-quarter net income rose 13%, reflecting strong gains in its tobacco and distilled spirits businesses.@@@@1@19@@oe@2-2-2013
21680002@unknown@formal@none@1@S@The company, which also has businesses in life insurance, office products and hardware, and home-improvement products, said net income rose to $166.4 million, or $1.71 a share, from $146.8 million, or $1.53 a share, a year earlier.@@@@1@37@@oe@2-2-2013
21680003@unknown@formal@none@1@S@Year-earlier results for the quarter and the nine months were restated to reflect a change in accounting standards.@@@@1@18@@oe@2-2-2013
21680004@unknown@formal@none@1@S@Revenue declined 2%, to $3.06 billion from $3.13 billion, because of the sale of Southland Life in March, and the impact of the stronger U.S. dollar on overseas results.@@@@1@29@@oe@2-2-2013
21680005@unknown@formal@none@1@S@Operating profit for world-wide tobacco products rose 10% to $247.6 million.@@@@1@11@@oe@2-2-2013
21680006@unknown@formal@none@1@S@For distilled spirits, operating profit rose 36%, to $24.8 million.@@@@1@10@@oe@2-2-2013
21680007@unknown@formal@none@1@S@In the first nine months, net rose 1.5%, to $458.8 million, or $4.76 a share, from $452 million, or $4.50 a share, a year earlier.@@@@1@25@@oe@2-2-2013
21680008@unknown@formal@none@1@S@The year-earlier period included $40.1 million, or 41 cents a share, from discontinued operations.@@@@1@14@@oe@2-2-2013
21680009@unknown@formal@none@1@S@Revenue rose to $9.03 billion from $8.98 billion.@@@@1@8@@oe@2-2-2013
21680010@unknown@formal@none@1@S@The average number of shares outstanding rose 2% in the third quarter but was down 4% for the nine months.@@@@1@20@@oe@2-2-2013
21680011@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, American Brands shares rose $1.75 to $73.@@@@1@16@@oe@2-2-2013
21681001@unknown@formal@none@1@S@SANTA FE PACIFIC PIPELINE PARTNERS Limited Partnership, of Los Angeles, increased its quarterly cash dividend to 60 cents a unit from 55 cents, payable Nov. 14 to units of record Oct. 31.@@@@1@32@@oe@2-2-2013
21681002@unknown@formal@none@1@S@The company is an independent refined-petroleum-products pipeline serving six Western states.@@@@1@11@@oe@2-2-2013
21682001@unknown@formal@none@1@S@WASHINGTON LIES LOW after the stock market's roller-coaster ride.@@@@1@9@@oe@2-2-2013
21682002@unknown@formal@none@1@S@Lawmakers, haunted by charges that some of their comments contributed to the 1987 crash, generally shy away from calls for sweeping new legislation.@@@@1@23@@oe@2-2-2013
21682003@unknown@formal@none@1@S@But a House Energy and Commerce subcommittee will quiz SEC Chairman Breeden Wednesday, and Treasury Secretary Brady will go before the Senate Banking panel Thursday.@@@@1@25@@oe@2-2-2013
21682004@unknown@formal@none@1@S@The market's wild week may speed along the market-reform legislation that has been pending for months in the aftermath of the 1987 crash.@@@@1@23@@oe@2-2-2013
21682005@unknown@formal@none@1@S@It may also expedite the SEC's modest pending changes in junk-bond disclosure rules and intensify the Treasury's look at plans for giving new tax breaks on dividends and raising taxes on short-term trades by pension funds.@@@@1@36@@oe@2-2-2013
21682006@unknown@formal@none@1@S@Brady and Breeden work well together on the plunge, despite the fact that the Treasury secretary opposed Breeden's nomination to the SEC post.@@@@1@23@@oe@2-2-2013
21682007@unknown@formal@none@1@S@BAKER FALTERS in the Mideast amid Israeli paralysis and Palestinian politics.@@@@1@11@@oe@2-2-2013
21682008@unknown@formal@none@1@S@Despite seeing his plan for Israeli-Palestinian elections wither, the cautious secretary of state is so far unwilling to cut U.S. economic or military aid to force Israeli cooperation.@@@@1@28@@oe@2-2-2013
21682009@unknown@formal@none@1@S@Baker nonetheless remains furious both at Shamir, for backing down on the elections, and at Shamir's rival, Peres, for political ineptitude in forcing a premature cabinet vote on Baker's plan.@@@@1@30@@oe@2-2-2013
21682010@unknown@formal@none@1@S@Meanwhile, some U.S. officials fear PLO chief Arafat is getting cold feet and may back off from his recent moderation and renunciation of terrorism.@@@@1@24@@oe@2-2-2013
21682011@unknown@formal@none@1@S@He is under intense fire from other Palestinian groups; Syria is pushing Ahmad Jibril, whose terrorist band is blamed for the Pan Am 103 bombing, as an alternative to Arafat.@@@@1@30@@oe@2-2-2013
21682012@unknown@formal@none@1@S@DARMAN'S MANEUVERS on the budget and capital gains hurt him in Congress.@@@@1@12@@oe@2-2-2013
21682013@unknown@formal@none@1@S@Republicans as well as Democrats were angered by the budget director's rejection of Speaker Foley's effort to expedite a deficitcutting measure by stripping it of the capital-gains tax cut as well as pet Democratic projects.@@@@1@35@@oe@2-2-2013
21682014@unknown@formal@none@1@S@Darman now blames the clash on miscommunication, but House GOP leader Michel, who carried the offer to him, observes, "I was speaking English at the time, and quite loud so I could be understood."@@@@1@34@@oe@2-2-2013
21682015@unknown@formal@none@1@S@Senate GOP leader Dole ridicules the budget chief on the Senate floor.@@@@1@12@@oe@2-2-2013
21682016@unknown@formal@none@1@S@Democratic counterpart Mitchell, asked to interpret Darman's threat to make permanent the across-the-board Gramm-Rudman cuts that took effect this week, says, "I don't even bother to interpret them."@@@@1@28@@oe@2-2-2013
21682017@unknown@formal@none@1@S@But Darman suggests such tensions will dissipate quickly.@@@@1@8@@oe@2-2-2013
21682018@unknown@formal@none@1@S@"If I can show signs of maturity, almost anybody can," he jokes.@@@@1@12@@oe@2-2-2013
21682019@unknown@formal@none@1@S@HHS OFFICIALS expect Secretary Sullivan to continue a ban on research using fetal tissue.@@@@1@14@@oe@2-2-2013
21682020@unknown@formal@none@1@S@Before he was confirmed, Sullivan said he had "reservations about any blanket prohibitions on medical research."@@@@1@16@@oe@2-2-2013
21682021@unknown@formal@none@1@S@But now, an official says, he is "surrounded by right-to-lifers," who contend that any breakthroughs in fetal-tissue research could increase the demand for abortions.@@@@1@24@@oe@2-2-2013
21682022@unknown@formal@none@1@S@COOPERATION WANES on weapons development between the U.S. and Europe.@@@@1@10@@oe@2-2-2013
21682023@unknown@formal@none@1@S@Britain, France and Italy pull out of a proposal to build new NATO frigates; the U.S. and West Germany have each withdrawn from missile projects.@@@@1@25@@oe@2-2-2013
21682024@unknown@formal@none@1@S@Defense experts say joint projects are increasingly squeezed by budget pressures and the desire to save domestic jobs; some also fear rising protectionism as European unity nears.@@@@1@27@@oe@2-2-2013
21682025@unknown@formal@none@1@S@BOTH SIDES NOW:@@@@1@3@@oe@2-2-2013
21682026@unknown@formal@none@1@S@Virginia GOP lieutenant governor candidate Eddy Dalton tries to have it both ways on the abortion issue.@@@@1@17@@oe@2-2-2013
21682027@unknown@formal@none@1@S@Though she opposes abortion in almost all cases, she airs a TV commercial using pro-choice buzzwords.@@@@1@16@@oe@2-2-2013
21682028@unknown@formal@none@1@S@"A woman ought to have a choice in cases where her life or health are in danger and in cases of rape or incest," she proclaims.@@@@1@26@@oe@2-2-2013
21682029@unknown@formal@none@1@S@HOT TOPIC:@@@@1@2@@oe@2-2-2013
21682030@unknown@formal@none@1@S@Interest in the abortion issue is so great that the Hotline, a daily, computer-distributed political newsletter, comes up with a spinoff product called the Abortion Report dealing solely with its political implications.@@@@1@32@@oe@2-2-2013
21682031@unknown@formal@none@1@S@CONSERVATIVES EXPECT Bush to solidify their majority on a key court.@@@@1@11@@oe@2-2-2013
21682032@unknown@formal@none@1@S@Bush has three vacancies to fill on the prestigious D.C. Circuit Court, which handles many important regulatory issues and is often considered a warm-up for future Supreme Court nominees.@@@@1@29@@oe@2-2-2013
21682033@unknown@formal@none@1@S@Conservatives now hold only a 5-4 edge.@@@@1@7@@oe@2-2-2013
21682034@unknown@formal@none@1@S@One slot is expected to go to EEOC Chairman Clarence Thomas, a black conservative; after mulling a fight, liberals now probably won't put up a major struggle against him.@@@@1@29@@oe@2-2-2013
21682035@unknown@formal@none@1@S@Other conservatives thought to be on the administration's short list include Washington lawyer Michael Uhlmann, who was passed over for the No. 2 job at the Justice Department, and Marshall Breger, chairman of a U.S. agency on administration.@@@@1@38@@oe@2-2-2013
21682036@unknown@formal@none@1@S@The Bush administration would also like to nominate a woman; one possibility is former Justice Department official Victoria Toensing.@@@@1@19@@oe@2-2-2013
21682037@unknown@formal@none@1@S@MINOR MEMOS:@@@@1@2@@oe@2-2-2013
21682038@unknown@formal@none@1@S@In the wake of the failed Panama coup, a bumper sticker appears: "Ollie Would Have Got Him." . . .@@@@1@20@@oe@2-2-2013
21682039@unknown@formal@none@1@S@Rep. Garcia, on trial for bribery and extortion, puts statements in the Congressional Record attributing missed votes to "scheduling conflicts." . . .@@@@1@23@@oe@2-2-2013
21682040@unknown@formal@none@1@S@A GOP Senate fund-raising letter from Sen. Burns of Montana is made to appear personally written, and its opening line is, "Please excuse my handwriting."@@@@1@25@@oe@2-2-2013
21682041@unknown@formal@none@1@S@But Burns confesses in an interview: "That's not my handwriting.@@@@1@10@@oe@2-2-2013
21683001@unknown@formal@none@1@S@MC SHIPPING Inc., New York, declared an initial quarterly of 60 cents a share payable Nov. 15 to shares of record Oct. 30.@@@@1@23@@oe@2-2-2013
21683002@unknown@formal@none@1@S@The announcement boosted the charter-shipping company's shares, which closed at $15.125, up $1.25 a share, in composite trading on the American Stock Exchange.@@@@1@23@@oe@2-2-2013
21683003@unknown@formal@none@1@S@The company, which went public in May, intends to pay dividends from available cash flow; the amount may vary from quarter to quarter.@@@@1@23@@oe@2-2-2013
21684001@unknown@formal@none@1@S@Ever since the hotly contested America's Cup race last year, the famous yachting match has run into more rough sailing out of the water than in it.@@@@1@27@@oe@2-2-2013
21684002@unknown@formal@none@1@S@Now that a key member of the San Diego Yacht Club team is splitting off to form his own team, even more competition lies ahead.@@@@1@25@@oe@2-2-2013
21684003@unknown@formal@none@1@S@Peter Isler, the winning navigator in the past two America's Cup challenges, has split from the team led by Dennis Conner, skipper of the victorious Stars & Stripes, to form his own team for the next contest in 1992.@@@@1@39@@oe@2-2-2013
21684004@unknown@formal@none@1@S@And, in addition to a crack team of sailors, Mr. Isler has lined up some real brass to help him finance the syndicate.@@@@1@23@@oe@2-2-2013
21684005@unknown@formal@none@1@S@Isler Sailing International's advisory board includes Ted Turner, Turner Broadcasting chairman and a former Cup victor; Peter G. Diamandis, head of Diamandis Communications, and Joseph B. Vittoria, chairman and chief executive of Avis Inc.@@@@1@34@@oe@2-2-2013
21684006@unknown@formal@none@1@S@His steering committee includes other notable businessmen, including the California investor and old salt Roy E. Disney.@@@@1@17@@oe@2-2-2013
21684007@unknown@formal@none@1@S@"We have the structure, people and plan," Mr. Isler said in a statement.@@@@1@13@@oe@2-2-2013
21684008@unknown@formal@none@1@S@Now, the first order of business is raising enough money to keep his team afloat -- a new yacht will cost about $3 million alone, and sailing syndicate budgets can easily run to $25 million for a Cup challenge.@@@@1@39@@oe@2-2-2013
21684009@unknown@formal@none@1@S@The split comes in the midst of a court battle over whether the San Diego Yacht Club should be allowed to keep the international trophy for sailing a catamaran against the New Zealand challengers' 90-foot monohull.@@@@1@36@@oe@2-2-2013
21684010@unknown@formal@none@1@S@In September, a New York appellate court overturned a state judge's ruling that awarded the Cup to the New Zealand team.@@@@1@21@@oe@2-2-2013
21684011@unknown@formal@none@1@S@Pending an appeal by the New Zealand team, led by Michael Fay, the finals for the next Cup challenge are scheduled to be held in mid-1992 in San Diego.@@@@1@29@@oe@2-2-2013
21684012@unknown@formal@none@1@S@But because of the uncertainty of the outcome of the suit, Mr. Conner's team has done little to begin gearing up to defend its title.@@@@1@25@@oe@2-2-2013
21684013@unknown@formal@none@1@S@"If you don't know what the rules of the game are, it's hard to start your fund-raising or design," said Dana Smith, an official with Team Dennis Conner.@@@@1@28@@oe@2-2-2013
21684014@unknown@formal@none@1@S@The Conner team won't be able to negotiate with corporate sponsors until the suit is resolved and the race site is determined, Mr. Smith said, and the syndicate's budget could easily reach $30 million.@@@@1@34@@oe@2-2-2013
21684015@unknown@formal@none@1@S@But spokesmen for both Mr. Isler and Mr. Conner say the formation of the new syndicate has to do with Mr. Isler's desire to skipper his own team and begin planning now, rather than any falling out between the two sportsmen.@@@@1@41@@oe@2-2-2013
21684016@unknown@formal@none@1@S@Mr. Smith and a spokesman for the America's Cup Organizing Committee insist that the added competition for the defender's spot will only improve the race.@@@@1@25@@oe@2-2-2013
21685001@unknown@formal@none@1@S@Missouri farmer Blake Hurst writing in the fall issue of the Heritage Foundation's Policy Review about the proposed location of a hazardous-waste incinerator in his county:@@@@1@26@@oe@2-2-2013
21685002@unknown@formal@none@1@S@Of course I'd rather have a computer software firm in my backyard than a hazardous waste incinerator.@@@@1@17@@oe@2-2-2013
21685003@unknown@formal@none@1@S@But I'd also rather live next door to an incinerator than to some of the hog farms I've seen (and smelt) in these parts.@@@@1@24@@oe@2-2-2013
21685004@unknown@formal@none@1@S@An incinerator is also probably better than having nobody next door -- on our farm there are four unoccupied houses.@@@@1@20@@oe@2-2-2013
21685005@unknown@formal@none@1@S@On my four-mile drive to farm headquarters each morning, I drive by another four empty houses.@@@@1@16@@oe@2-2-2013
21685006@unknown@formal@none@1@S@A community of abandoned farmsteads, failing businesses, and crumbling roads and bridges is hardly a desirable one. . . .@@@@1@20@@oe@2-2-2013
21685007@unknown@formal@none@1@S@The loss of 40 jobs by a depressed county in rural Missouri is hardly of national importance except for this: If the most environmentally safe way of dealing with a national problem cannot be built in Atchinson County, what hope have we for dealing with the wastes our economy produces?@@@@1@50@@oe@2-2-2013
21685008@unknown@formal@none@1@S@After all, farmers here work with "hazardous" chemicals every day, many of them the same chemicals that would have been destroyed in the incinerator.@@@@1@24@@oe@2-2-2013
21685009@unknown@formal@none@1@S@We know they are dangerous, but if handled with care, their benefits far outweigh any risk to the environment.@@@@1@19@@oe@2-2-2013
21686001@unknown@formal@none@1@S@Just because Stamford, Conn., High School did nothing when its valuable 1930s mural was thrown in the trash doesn't mean the city no longer owns the work of art, a federal judge ruled.@@@@1@33@@oe@2-2-2013
21686002@unknown@formal@none@1@S@The mural, now valued at $1.3 million according to appraisers, was tossed in a trash heap in 1971 by workers who were renovating the building.@@@@1@25@@oe@2-2-2013
21686003@unknown@formal@none@1@S@The 100-foot-long mural, painted by James Daugherty in 1934, was commissioned by the federal Works Project Administration.@@@@1@17@@oe@2-2-2013
21686004@unknown@formal@none@1@S@After the discarded mural was found outside the school by a concerned Stamford graduate, it eventually was turned over to Hiram Hoelzer, a professional art restorer.@@@@1@26@@oe@2-2-2013
21686005@unknown@formal@none@1@S@Throughout the 1970s, Stamford school and city officials made no effort to locate the mural.@@@@1@15@@oe@2-2-2013
21686006@unknown@formal@none@1@S@Apparently the officials didn't even know the mural was missing until 1980, when a researcher found that the painting was in Mr. Hoelzer's studio and questioned school officials about it.@@@@1@30@@oe@2-2-2013
21686007@unknown@formal@none@1@S@In 1986, Stamford officials thanked Mr. Hoelzer for taking care of the mural -- and demanded he return it as soon as possible.@@@@1@23@@oe@2-2-2013
21686008@unknown@formal@none@1@S@Mr. Hoelzer, however, sued Stamford, claiming that the city had abandoned the artwork and that it had waited too long to reclaim it.@@@@1@23@@oe@2-2-2013
21686009@unknown@formal@none@1@S@But Judge Louis L. Stanton of federal court in Manhattan ruled that the city couldn't be faulted for waiting too long because it didn't realize until 1986 that its ownership of the painting was in dispute.@@@@1@36@@oe@2-2-2013
21686010@unknown@formal@none@1@S@The judge also ruled that the painting wasn't abandoned because officials didn't intend for it to be thrown away and were unaware that the workmen had discarded it.@@@@1@28@@oe@2-2-2013
21686011@unknown@formal@none@1@S@Mr. Hoelzer didn't return phone calls seeking comment on the judge's decision.@@@@1@12@@oe@2-2-2013
21686012@unknown@formal@none@1@S@The judge ordered that a hearing be held Nov. 17 to determine how much the city should pay Mr. Hoelzer for his services.@@@@1@23@@oe@2-2-2013
21686013@unknown@formal@none@1@S@Mary E. Sommer, corporate counsel for Stamford, said the city has discussed several possible plans for displaying the mural, which portrays various scenes from the Great Depression.@@@@1@27@@oe@2-2-2013
21686014@unknown@formal@none@1@S@She said the mural "preserves an era in Stamford and in our country when this type of work was being done.@@@@1@21@@oe@2-2-2013
21687001@unknown@formal@none@1@S@The prices of corn futures contracts jumped amid rumors that the Soviet Union is keeping up its dizzying October buying binge of U.S. corn.@@@@1@24@@oe@2-2-2013
21687002@unknown@formal@none@1@S@Those rumors were confirmed after the end of trading yesterday when the U.S. Agriculture Department announced that the Soviets had bought 1.2 million metric tons of U.S. corn, bringing their U.S. corn purchases confirmed so far this month to about five million metric tons.@@@@1@44@@oe@2-2-2013
21687003@unknown@formal@none@1@S@In trading at the Chicago Board of Trade, the corn contract for December delivery jumped 5.75 cents a bushel to settle at $2.44 a bushel.@@@@1@25@@oe@2-2-2013
21687004@unknown@formal@none@1@S@The Soviet purchases are close to exceeding what some analysts had expected the Soviet Union to buy this fall, the season in which it usually buys much of the corn it imports from the U.S.@@@@1@35@@oe@2-2-2013
21687005@unknown@formal@none@1@S@That pace is causing some analysts to speculate that the Soviet Union might soon purchase as much as another two million metric tons.@@@@1@23@@oe@2-2-2013
21687006@unknown@formal@none@1@S@One sign that more Soviet purchases are possible is that U.S. grain companies yesterday bought an unusually large amount of corn futures contracts.@@@@1@23@@oe@2-2-2013
21687007@unknown@formal@none@1@S@That sometimes signals that they are laying plans to export corn.@@@@1@11@@oe@2-2-2013
21687008@unknown@formal@none@1@S@By some estimates, several grain companies combined bought contracts for the possession of roughly one million metric tons of corn.@@@@1@20@@oe@2-2-2013
21687009@unknown@formal@none@1@S@By buying futures contracts, these companies attempt to protect themselves from swings in the price of the corn that they are obligated to deliver.@@@@1@24@@oe@2-2-2013
21687010@unknown@formal@none@1@S@Rumors of Soviet interest also pushed up the prices of soybean futures contracts.@@@@1@13@@oe@2-2-2013
21687011@unknown@formal@none@1@S@Among other things, the Agriculture Department is widely thought to be mulling whether to subsidize the sale of soybean oil to the Soviet Union.@@@@1@24@@oe@2-2-2013
21687012@unknown@formal@none@1@S@On top of all this, corn and soybean prices rose on reports that the Midwest harvest was disrupted by a freakishly early snow storm that dumped several inches in parts of Indiana and Ohio.@@@@1@34@@oe@2-2-2013
21687013@unknown@formal@none@1@S@The harvest delays, however, are expected to be temporary.@@@@1@9@@oe@2-2-2013
21687014@unknown@formal@none@1@S@Balmy temperatures are forecast for next week, said Robert Lekberg, an analyst at Farmers Grain & Livestock Corp., Chicago.@@@@1@19@@oe@2-2-2013
21687015@unknown@formal@none@1@S@Many farmers used the jump in prices to sell their recently harvested crop to grain elevator companies.@@@@1@17@@oe@2-2-2013
21687016@unknown@formal@none@1@S@The heavy selling by farmers helped to damp the price rally.@@@@1@11@@oe@2-2-2013
21687017@unknown@formal@none@1@S@Wheat futures prices rose slightly.@@@@1@5@@oe@2-2-2013
21687018@unknown@formal@none@1@S@In other commodity markets yesterday:@@@@1@5@@oe@2-2-2013
21687019@unknown@formal@none@1@S@PRECIOUS METALS:@@@@1@2@@oe@2-2-2013
21687020@unknown@formal@none@1@S@Futures prices declined.@@@@1@3@@oe@2-2-2013
21687021@unknown@formal@none@1@S@A number of developments were negatively interpreted by traders.@@@@1@9@@oe@2-2-2013
21687022@unknown@formal@none@1@S@December delivery gold fell $1.80 an ounce to $370.60.@@@@1@9@@oe@2-2-2013
21687023@unknown@formal@none@1@S@December silver eased 2.7 cents an ounce to $5.133.@@@@1@9@@oe@2-2-2013
21687024@unknown@formal@none@1@S@January platinum was down $3.60 an ounce at $491.10.@@@@1@9@@oe@2-2-2013
21687025@unknown@formal@none@1@S@One price-depressing development was the lower-than-expected increase of only 0.2% in the consumer price index for September, an analyst said.@@@@1@20@@oe@2-2-2013
21687026@unknown@formal@none@1@S@He noted that the "core inflation rate," which excludes food and energy, was also low at 0.2%.@@@@1@17@@oe@2-2-2013
21687027@unknown@formal@none@1@S@Other news that weighed on the market: Initial unemployment claims rose by 62,000 last week; American Telephone & Telegraph Co. will reduce its managerial staff by 15,000 through attrition; the oil market turned weaker; there wasn't any investor demand for bullion; and the dollar strengthened during the day, putting pressure on gold.@@@@1@52@@oe@2-2-2013
21687028@unknown@formal@none@1@S@Also, the analyst said, economic circumstances are such that both South Africa and the Soviet Union, the principal gold and platinum producers, are being forced to continue selling the metals.@@@@1@30@@oe@2-2-2013
21687029@unknown@formal@none@1@S@Both are in great need of foreign exchange, and South Africa is also under pressure to meet foreign loan commitments, he said.@@@@1@22@@oe@2-2-2013
21687030@unknown@formal@none@1@S@"Putting it all together, we have a negative scenario that doesn't look like it will improve overnight," he said.@@@@1@19@@oe@2-2-2013
21687031@unknown@formal@none@1@S@COPPER:@@@@1@1@@oe@2-2-2013
21687032@unknown@formal@none@1@S@Futures prices recovered in quiet trading.@@@@1@6@@oe@2-2-2013
21687033@unknown@formal@none@1@S@The December contract rose 1.50 cents a pound to $1.2795.@@@@1@10@@oe@2-2-2013
21687034@unknown@formal@none@1@S@That contract fell a total of 5.75 cents during the first three days of this week, mostly in reaction to last Friday's stock market plunge, which prompted concern that it might signal a similar sharp slowing of the U.S. economy and thus reduced demand for copper, a leading industrial metal.@@@@1@50@@oe@2-2-2013
21687035@unknown@formal@none@1@S@In recent days, however, there has been increased purchasing of copper in London, an analyst said.@@@@1@16@@oe@2-2-2013
21687036@unknown@formal@none@1@S@Some of this buying was by Japan, which has had its supplies sharply reduced by long production stoppages at the Bougainville mine in Papua New Guinea, Highland Valley mine in British Columbia, and the Cananea mine in Mexico, which are major shippers to Japan.@@@@1@44@@oe@2-2-2013
21687037@unknown@formal@none@1@S@The increasing likelihood that Cananea and Highland Valley will soon return to production may have cut some of that purchasing, but even if any of these mines begin operating soon, their output won't be significant until at least the end of the year, analysts note.@@@@1@45@@oe@2-2-2013
21687038@unknown@formal@none@1@S@So, one analyst said, even though the long-term production problems may be easing, there will still be a significant need for copper over the next three months, when inventories will remain relatively low.@@@@1@33@@oe@2-2-2013
21687039@unknown@formal@none@1@S@ENERGY:@@@@1@1@@oe@2-2-2013
21687040@unknown@formal@none@1@S@Crude oil prices ended mixed.@@@@1@5@@oe@2-2-2013
21687041@unknown@formal@none@1@S@West Texas Intermediate for November delivery fell 14 cents a barrel to $20.42.@@@@1@13@@oe@2-2-2013
21687042@unknown@formal@none@1@S@But so-called outer month contracts finished higher.@@@@1@7@@oe@2-2-2013
21687043@unknown@formal@none@1@S@For instance, December contracts for WTI rose 17 cents to $20.42.@@@@1@11@@oe@2-2-2013
21687044@unknown@formal@none@1@S@Most energy futures opened lower, following Wednesday's market downturn.@@@@1@9@@oe@2-2-2013
21687045@unknown@formal@none@1@S@But a flurry of late trading yesterday beefed up prices.@@@@1@10@@oe@2-2-2013
21687046@unknown@formal@none@1@S@Heating oil and gasoline futures ended higher as well.@@@@1@9@@oe@2-2-2013
21688001@unknown@formal@none@1@S@Melvin Belli's San Francisco law offices may have been the epicenter of legal activity after Tuesday's earthquake.@@@@1@17@@oe@2-2-2013
21688002@unknown@formal@none@1@S@In the first 25 minutes after his office's telephone service was restored yesterday morning, 17 potential clients had called seeking the services of the self-proclaimed King of Torts.@@@@1@28@@oe@2-2-2013
21688003@unknown@formal@none@1@S@Mr. Belli, like many other personal-injury lawyers, suspects that the earthquake, which measured 6.9 on the Richter scale, will generate enough lawsuits to keep this city's personal-injury and construction lawyers busy for quite some time.@@@@1@35@@oe@2-2-2013
21688004@unknown@formal@none@1@S@Suits are likely to be filed against engineering firms, contractors and developers, as well as against local-government agencies.@@@@1@18@@oe@2-2-2013
21688005@unknown@formal@none@1@S@But lawyers looking to cash in on the quake may have a tough time once their cases reach a judge.@@@@1@20@@oe@2-2-2013
21688006@unknown@formal@none@1@S@Experts on California tort law say protections afforded government agencies in such cases are pretty ironclad.@@@@1@16@@oe@2-2-2013
21688007@unknown@formal@none@1@S@Even claims against individuals and companies face significant roadblocks.@@@@1@9@@oe@2-2-2013
21688008@unknown@formal@none@1@S@The major legal barrier is the principle that no one can be held liable for an "act of God."@@@@1@19@@oe@2-2-2013
21688009@unknown@formal@none@1@S@For now, says Laurence Drivon, president-elect of the 6,000-member California Trial Lawyers Association, "the last thing we really need to worry about is whether anybody is going to get sued, or whether they have liability or not.@@@@1@37@@oe@2-2-2013
21688010@unknown@formal@none@1@S@We still have people wandering around in a daze in San Francisco worrying about whether it's going to rain tonight."@@@@1@20@@oe@2-2-2013
21688011@unknown@formal@none@1@S@But that won't stop plaintiffs' lawyers from seeking a little room for maneuvering.@@@@1@13@@oe@2-2-2013
21688012@unknown@formal@none@1@S@In San Francisco, they argue, an earthquake was a near certainty.@@@@1@11@@oe@2-2-2013
21688013@unknown@formal@none@1@S@Therefore, engineering firms, construction contractors and developers can be sued for not keeping structures up to standard, and government agencies can be held accountable for failing to properly protect citizens from such a foreseeable disaster, if negligence can be proven.@@@@1@40@@oe@2-2-2013
21688014@unknown@formal@none@1@S@"My prediction is there will be mass litigation over errors and omissions in engineering and contracting," says Stanley Chesley, a well-known Cincinnati plaintiffs lawyer.@@@@1@24@@oe@2-2-2013
21688015@unknown@formal@none@1@S@From what he saw on television, Mr. Chesley points out that Interstate 880, which collapsed and killed more than 200 commuters, suffered serious damage while surrounding buildings appeared to sustain no damage whatsoever.@@@@1@33@@oe@2-2-2013
21688016@unknown@formal@none@1@S@He adds that "they were aware of the propensity for earthquakes and the San Andreas Fault."@@@@1@16@@oe@2-2-2013
21688017@unknown@formal@none@1@S@The flamboyant and publicity-conscious Mr. Belli says he already has investigators looking into who could be held liable for the damage on the Bay Bridge and the interstate approaching it.@@@@1@30@@oe@2-2-2013
21688018@unknown@formal@none@1@S@"We won't know until the smoke clears -- but yes, we're looking into it," he says.@@@@1@16@@oe@2-2-2013
21688019@unknown@formal@none@1@S@Mr. Belli says he wants to know whether state or federal engineers or private companies could have prevented the damage.@@@@1@20@@oe@2-2-2013
21688020@unknown@formal@none@1@S@Mr. Belli, who was at Candlestick Park for the World Series Tuesday night, says he has hired civil engineers to check out his own mildly damaged building and to investigate the bridge collapse.@@@@1@33@@oe@2-2-2013
21688021@unknown@formal@none@1@S@Defense lawyers, perhaps understandably, say that plaintiffs' lawyers taking such an approach will have little success in pursuing their claims, though they add that the facts of each case must be looked at individually.@@@@1@34@@oe@2-2-2013
21688022@unknown@formal@none@1@S@"A lot of this is going to be code-related," says Ignazio J. Ruvolo, a construction law specialist at Bronson, Bronson & McKinnon, a San Francisco law firm.@@@@1@27@@oe@2-2-2013
21688023@unknown@formal@none@1@S@Plaintiffs, he says, will argue that damaged structures weren't built to proper design standards.@@@@1@14@@oe@2-2-2013
21688024@unknown@formal@none@1@S@But if defendants can prove that they met San Francisco's stringent building codes, "that's probably going to protect them," Mr. Ruvolo says.@@@@1@22@@oe@2-2-2013
21688025@unknown@formal@none@1@S@Government entities, continues Mr. Ruvolo, could be protected by the California Government Tort Liability Act.@@@@1@15@@oe@2-2-2013
21688026@unknown@formal@none@1@S@Under the statute, agencies are provided "defenses that normally aren't available in the private sector," Mr. Ruvolo says.@@@@1@18@@oe@2-2-2013
21688027@unknown@formal@none@1@S@"The legislature does not want to inhibit the unique government activities by exposing public entities to liability."@@@@1@17@@oe@2-2-2013
21688028@unknown@formal@none@1@S@Built into the statute are so-called design immunities, which are likely to protect government agencies, according to Mr. Ruvolo and Richard Covert, a lawyer with the California Department of Transportation, which oversees the damaged Bay Bridge.@@@@1@36@@oe@2-2-2013
21688029@unknown@formal@none@1@S@The state is protected when plans and designs for public structures were approved ahead of time or when structures met previously approved standards, says Mr. Covert.@@@@1@26@@oe@2-2-2013
21688030@unknown@formal@none@1@S@He believes those defenses might well apply to the Bay Bridge collapse.@@@@1@12@@oe@2-2-2013
21688031@unknown@formal@none@1@S@Nevertheless, he adds, "I wouldn't get totally shocked if we get lawsuits out of the Bay Bridge."@@@@1@17@@oe@2-2-2013
21688032@unknown@formal@none@1@S@If there's going to be a race to the courthouse, it hasn't started yet.@@@@1@14@@oe@2-2-2013
21688033@unknown@formal@none@1@S@Mr. Covert had to search through law books scattered on the floor of his office yesterday, and Mr. Belli's courtyard was strewn with bricks.@@@@1@24@@oe@2-2-2013
21688034@unknown@formal@none@1@S@Wednesday, Mr. Belli's staff wasn't permitted into his office by city officials worried about their safety.@@@@1@16@@oe@2-2-2013
21688035@unknown@formal@none@1@S@He said he set up shop on the sidewalk in front of his town-house office and helped victims apply for federal aid -- free of charge.@@@@1@26@@oe@2-2-2013
21688036@unknown@formal@none@1@S@In a news release issued by Mr. Drivon, the trial lawyers association also promised free assistance to victims.@@@@1@18@@oe@2-2-2013
21688037@unknown@formal@none@1@S@The association said it would monitor the conduct of lawyers and warned that solicitation of business is unethical.@@@@1@18@@oe@2-2-2013
21689001@unknown@formal@none@1@S@What's in a name?@@@@1@4@@oe@2-2-2013
21689002@unknown@formal@none@1@S@Apparently a lot, according to the British firm of Deloitte, Haskins & Sells.@@@@1@13@@oe@2-2-2013
21689003@unknown@formal@none@1@S@The British firm has begun court proceedings in London to prevent the use of the name "Deloitte" by Deloitte, Haskins & Sells and Touche Ross & Co. in England and the rest of the world.@@@@1@35@@oe@2-2-2013
21689004@unknown@formal@none@1@S@The British Deloitte firm recently withdrew from the merger of Deloitte and Touche world-wide and joined Coopers & Lybrand.@@@@1@19@@oe@2-2-2013
21689005@unknown@formal@none@1@S@John Bullock, senior partner of Deloitte in the U.K., said "the decision to start these proceedings hasn't been taken lightly."@@@@1@20@@oe@2-2-2013
21689006@unknown@formal@none@1@S@Mr. Bullock said the British firm has used the name "Deloitte" since 1845.@@@@1@13@@oe@2-2-2013
21689007@unknown@formal@none@1@S@In the U.S., Deloitte, Haskins & Sells was known as Haskins & Sells until 1978, when it added the "Deloitte" name of its British affiliate.@@@@1@25@@oe@2-2-2013
21689008@unknown@formal@none@1@S@John C. Burton, an accounting professor at Columbia University's Graduate School of Business, said "there's a lot of emotion involved in the name of an accounting firm with a long history and with roots in England, where accounting predates the U.S."@@@@1@41@@oe@2-2-2013
21689009@unknown@formal@none@1@S@Although accountants aren't noted as "being deeply emotional, they really hold it all in," said Mr. Burton, former chief accountant of the Securities and Exchange Commission.@@@@1@26@@oe@2-2-2013
21689010@unknown@formal@none@1@S@J. Michael Cook, chairman of Deloitte, Haskins & Sells International, said he believes the legal action by the British firm "to be without merit."@@@@1@24@@oe@2-2-2013
21689011@unknown@formal@none@1@S@Mr. Cook said that last June, the international executive committes of Deloitte and Touche agreed to a world-wide merger.@@@@1@19@@oe@2-2-2013
21689012@unknown@formal@none@1@S@"The merger is proceeding according to plan, except as to the withdrawal of the Deloitte U.K. firm," he said.@@@@1@19@@oe@2-2-2013
21689013@unknown@formal@none@1@S@Partners at other accounting firms say that the Deloitte firm in the U.K. is filing the suit to get even with the merged Deloitte-Touche firm for keeping major auditing work in England.@@@@1@32@@oe@2-2-2013
21689014@unknown@formal@none@1@S@General Motors Corp., a Deloitte audit client, for example, has agreed to keep its annual $18 million world-wide audit and associated tax work with the merged Deloitte-Touche firm, to be known as Deloitte & Touche in the U.S.@@@@1@38@@oe@2-2-2013
21689015@unknown@formal@none@1@S@In England, this would mean that the British Deloitte would lose revenue for its audit of GM's Vauxhill unit.@@@@1@19@@oe@2-2-2013
21689016@unknown@formal@none@1@S@The defection of Deloitte's affiliates in Britain and the Netherlands to Coopers & Lybrand will make Coopers one of the biggest accounting firms in Europe, rivaling KPMG Peat Marwick there.@@@@1@30@@oe@2-2-2013
21689017@unknown@formal@none@1@S@Although Coopers hasn't been courted by other major accounting firms for a merger, it is benefiting greatly from fallout from the Deloitte-Touche merger.@@@@1@23@@oe@2-2-2013
21689018@unknown@formal@none@1@S@In New York, Harris Amhowitz, general counsel of Coopers, said Coopers "was aware of the litigation," but he declined further comment.@@@@1@21@@oe@2-2-2013
21689019@unknown@formal@none@1@S@He also declined to comment on the name that Coopers would use in England if Deloitte UK won its litigation to keep its name.@@@@1@24@@oe@2-2-2013
21689020@unknown@formal@none@1@S@Coopers uses the Coopers & Lybrand name world-wide.@@@@1@8@@oe@2-2-2013
21690001@unknown@formal@none@1@S@William Bennett, the White House drug-policy director, accused local officials in the Washington area of blocking construction of prison facilities to house convicted drug dealers.@@@@1@25@@oe@2-2-2013
21690002@unknown@formal@none@1@S@"Politics has essentially put up a roadblock" to finding sites for new federal prisons, Mr. Bennett said at a news conference called to report on his "emergency assistance program" for the capital.@@@@1@32@@oe@2-2-2013
21690003@unknown@formal@none@1@S@Without more space to incarcerate convicted criminals, he added, "we will not win the war on drugs."@@@@1@17@@oe@2-2-2013
21690004@unknown@formal@none@1@S@Mr. Bennett declared in April that he would make Washington a "test case" for how the Bush administration would aid cities afflicted by heavy drug trafficking and violence.@@@@1@28@@oe@2-2-2013
21690005@unknown@formal@none@1@S@The drug czar claimed that enforcement efforts are working here, "albeit at a slower and more halting pace than we would like."@@@@1@22@@oe@2-2-2013
21690006@unknown@formal@none@1@S@He acknowledged, however, that Washington's "drug-related murder rate is intolerably high.@@@@1@11@@oe@2-2-2013
21690007@unknown@formal@none@1@S@The prisons are too crowded.@@@@1@5@@oe@2-2-2013
21690008@unknown@formal@none@1@S@Drugs continue to be sold openly around schools, parks and housing projects."@@@@1@12@@oe@2-2-2013
21690009@unknown@formal@none@1@S@Mr. Bennett declined to name the area officials who he believes have impeded plans for building more federal prisons to ease Washington's problem.@@@@1@23@@oe@2-2-2013
21690010@unknown@formal@none@1@S@But other Bush administration officials have criticized Maryland Gov. William Schaefer for blocking the use of possible sites in that state.@@@@1@21@@oe@2-2-2013
21690011@unknown@formal@none@1@S@Administration officials also have said that Washington Mayor Marion Barry has delayed consideration of sites in the city.@@@@1@18@@oe@2-2-2013
21690012@unknown@formal@none@1@S@In a letter to Mr. Bennett's office, released yesterday, Washington's city administrator, Carol Thompson, complained that the drug czar had exaggerated the amount of federal drug-related assistance provided to the capital.@@@@1@31@@oe@2-2-2013
21690013@unknown@formal@none@1@S@Referring to Mr. Bennett's claim that the federal government would provide $97 million in emergency federal support, Ms. Thompson wrote, "Our analysis was unable to even come close to documenting that figure."@@@@1@32@@oe@2-2-2013
21690014@unknown@formal@none@1@S@Of his successes in Washington, Mr. Bennett stressed that existing federal prisons have taken custody of 375 local inmates.@@@@1@19@@oe@2-2-2013
21690015@unknown@formal@none@1@S@He also noted that the federal Drug Enforcement Administration has established a federal-local task force responsible since April for 106 arrests and more than $2 million in seizures of drug dealers' assets.@@@@1@32@@oe@2-2-2013
21690016@unknown@formal@none@1@S@The Defense Department has lent the Washington U.S. attorney 10 prosecutors, and the Federal Bureau of Investigation has provided crime laboratory facilities and training, he added.@@@@1@26@@oe@2-2-2013
21691001@unknown@formal@none@1@S@What if it happened to us?@@@@1@6@@oe@2-2-2013
21691002@unknown@formal@none@1@S@In the wake of the earthquake in California and the devastation of Hurricane Hugo, many companies in disaster-prone areas are pondering the question of preparedness.@@@@1@25@@oe@2-2-2013
21691003@unknown@formal@none@1@S@Some, particularly in West Coast earthquake zones, are dusting off their evacuation plans, checking food stocks and reminding employees of what to do if emergency strikes.@@@@1@26@@oe@2-2-2013
21691004@unknown@formal@none@1@S@Others say they feel confident that steps they've already taken would see them through a disaster.@@@@1@16@@oe@2-2-2013
21691005@unknown@formal@none@1@S@Preparedness involves more than flashlights and fire alarms these days.@@@@1@10@@oe@2-2-2013
21691006@unknown@formal@none@1@S@Some big companies have teams of in-house experts focusing on safety and business resumption.@@@@1@14@@oe@2-2-2013
21691007@unknown@formal@none@1@S@Many companies in the path of potential disaster have set up contingency offices in safe regions, hoping they can transport employees there and resume operations quickly.@@@@1@26@@oe@2-2-2013
21691008@unknown@formal@none@1@S@That means making sure that copies of vital computer software and company records are out of harm's way.@@@@1@18@@oe@2-2-2013
21691009@unknown@formal@none@1@S@Some businesses -- like Disneyland -- claim that even if they became isolated in a crisis, they would be able to feed and care for their people for as long as five days.@@@@1@33@@oe@2-2-2013
21691010@unknown@formal@none@1@S@"Self-sufficiency has to be the cornerstone of your plan," says Stephanie Masaki-Schatz, manager of corporate emergency planning at Atlantic Richfield Co. in Los Angeles.@@@@1@24@@oe@2-2-2013
21691011@unknown@formal@none@1@S@"If you don't save your critical people, you won't be able to bring up your vital business functions."@@@@1@18@@oe@2-2-2013
21691012@unknown@formal@none@1@S@Although ARCO's head office, more than 300 miles from the epicenter, wasn't affected by this week's tremors, Ms. Masaki-Schatz used the occasion to distribute a three-page memo of "Earthquake Tips" to 1,200 ARCO employees.@@@@1@34@@oe@2-2-2013
21691013@unknown@formal@none@1@S@"You need to capitalize on these moments when you have everyone's attention," she says.@@@@1@14@@oe@2-2-2013
21691014@unknown@formal@none@1@S@"It was a good reminder that we all need to prepare prior to an event."@@@@1@15@@oe@2-2-2013
21691015@unknown@formal@none@1@S@The ARCO memo urges employees to keep certain supplies at work, such as solid shoes and "heavy gloves to clear debris."@@@@1@21@@oe@2-2-2013
21691016@unknown@formal@none@1@S@It also recommends that employees be aware of everyday office items that could be used for emergency care or shelter.@@@@1@20@@oe@2-2-2013
21691017@unknown@formal@none@1@S@Among the suggestions: Pantyhose and men's ties could be used for slings, while removable wooden shelves might aid in "breaking through office walls."@@@@1@23@@oe@2-2-2013
21691018@unknown@formal@none@1@S@ARCO maintains an office in Dallas that would take over if payroll operations in Pasadena were disrupted.@@@@1@17@@oe@2-2-2013
21691019@unknown@formal@none@1@S@Two months ago the company set up a toll-free number, based outside California, to handle queries from employees about when they should report back to work after an earthquake or other disaster.@@@@1@32@@oe@2-2-2013
21691020@unknown@formal@none@1@S@The ARCO plan takes into account such details as which aspects of business are busier at certain times of the year.@@@@1@21@@oe@2-2-2013
21691021@unknown@formal@none@1@S@This way, depending on when a quake might strike, priorities can be assigned to departments that should be brought back on line first.@@@@1@23@@oe@2-2-2013
21691022@unknown@formal@none@1@S@At Hewlett-Packard Co., the earthquake came just as the company was reviewing its own emergency procedures.@@@@1@16@@oe@2-2-2013
21691023@unknown@formal@none@1@S@"We were talking about scheduling a practice drill for November," says Joan Tharp, a spokeswoman.@@@@1@15@@oe@2-2-2013
21691024@unknown@formal@none@1@S@"Then we had a real one in the afternoon."@@@@1@9@@oe@2-2-2013
21691025@unknown@formal@none@1@S@The Palo Alto, Calif., computer maker scrambled to set up a special phone line to tell manufacturing and support staff to stay home Wednesday.@@@@1@24@@oe@2-2-2013
21691026@unknown@formal@none@1@S@Sales and service employees were asked to report to work to help Bay area clients who called with computer problems.@@@@1@20@@oe@2-2-2013
21691027@unknown@formal@none@1@S@Hewlett-Packard also called in its systems experts to restore its own computer operations.@@@@1@13@@oe@2-2-2013
21691028@unknown@formal@none@1@S@"That means we can accept orders" and begin getting back to normal, says Ms. Tharp.@@@@1@15@@oe@2-2-2013
21691029@unknown@formal@none@1@S@Prompted by an earlier California earthquake, as well as a fire in a Los Angeles office tower, Great Western Bank in the past year hired three emergency planners and spent $75,000 equipping a trailer with communications gear to serve as an emergency headquarters.@@@@1@43@@oe@2-2-2013
21691030@unknown@formal@none@1@S@Although officials of the savings and loan, a unit of Great Western Financial Corp., used some of their new plans and equipment during this week's quake, they still lost touch for more than 24 hours with 15 branches in the affected areas, not knowing if employees were injured or vaults were broken open.@@@@1@53@@oe@2-2-2013
21691031@unknown@formal@none@1@S@"Some people flat out didn't know what to do," says Robert G. Lee, vice president for emergency planning and corporate security at Great Western.@@@@1@24@@oe@2-2-2013
21691032@unknown@formal@none@1@S@As it turned out, bank employees weren't hurt and the vaults withstood the jolts.@@@@1@14@@oe@2-2-2013
21691033@unknown@formal@none@1@S@Still, says Mr. Lee: "We need to educate people that they need to get to a phone somehow, some way, to let someone know what their status is."@@@@1@28@@oe@2-2-2013
21691034@unknown@formal@none@1@S@Some companies are confident that they're prepared.@@@@1@7@@oe@2-2-2013
21691035@unknown@formal@none@1@S@Occidental Petroleum Corp. holds regular evacuation drills and stocks food, oxygen and non-prescription drugs at checkpoints in its 16-story headquarters.@@@@1@20@@oe@2-2-2013
21691036@unknown@formal@none@1@S@The company also maintains rechargeable flashlights in offices and changes its standby supply of drinking water every three months.@@@@1@19@@oe@2-2-2013
21691037@unknown@formal@none@1@S@"We feel we are doing everything we can," an Occidental spokesman says.@@@@1@12@@oe@2-2-2013
21691038@unknown@formal@none@1@S@Walt Disney Co.'s Disneyland in Anaheim, Calif., stocks rescue equipment, medical supplies, and enough food and water to feed at least 10,000 visitors for as long as five days in the event that a calamity isolates the theme park.@@@@1@39@@oe@2-2-2013
21691039@unknown@formal@none@1@S@The park also has emergency centers where specially trained employees would go to coordinate evacuation and rescue plans using walkie-talkies, cellular phones, and a public-address system.@@@@1@26@@oe@2-2-2013
21691040@unknown@formal@none@1@S@The centers are complete with maps detailing utility lines beneath rides and "safe havens" where people can be assembled away from major structures.@@@@1@23@@oe@2-2-2013
21691041@unknown@formal@none@1@S@Vista Chemical Co., with three chemical plants in and near Lake Charles, La., "prepares for every hurricane that enters the Gulf of Mexico," says Keith L. Fogg, a company safety director.@@@@1@31@@oe@2-2-2013
21691042@unknown@formal@none@1@S@Hurricane Hugo, an Atlantic storm, didn't affect Vista.@@@@1@8@@oe@2-2-2013
21691043@unknown@formal@none@1@S@But two other major storms have threatened operations so far this year, most recently Hurricane Jerry this week.@@@@1@18@@oe@2-2-2013
21691044@unknown@formal@none@1@S@Because hurricanes can change course rapidly, the company sends employees home and shuts down operations in stages -- the closer a storm gets, the more complete the shutdown.@@@@1@28@@oe@2-2-2013
21691045@unknown@formal@none@1@S@The company doesn't wait until the final hours to get ready for hurricanes.@@@@1@13@@oe@2-2-2013
21691046@unknown@formal@none@1@S@"There are just tons of things that have to be considered," Mr. Fogg says.@@@@1@14@@oe@2-2-2013
21691047@unknown@formal@none@1@S@"Empty tank cars will float away on you if you get a big tidal surge."@@@@1@15@@oe@2-2-2013
21691048@unknown@formal@none@1@S@Still, Vista officials realize they're relatively fortunate.@@@@1@7@@oe@2-2-2013
21691049@unknown@formal@none@1@S@"With a hurricane you know it's coming.@@@@1@7@@oe@2-2-2013
21691050@unknown@formal@none@1@S@You have time to put precautionary mechanisms in place," notes a Vista spokeswoman.@@@@1@13@@oe@2-2-2013
21691051@unknown@formal@none@1@S@"A situation like San Francisco is so frightening because there's no warning.@@@@1@12@@oe@2-2-2013
21692001@unknown@formal@none@1@S@Former Democratic fund-raiser Thomas M. Gaubert, whose savings and loan was wrested from his control by federal thrift regulators, has been granted court permission to sue the regulators.@@@@1@28@@oe@2-2-2013
21692002@unknown@formal@none@1@S@In a ruling by the Fifth U.S. Circuit Court of Appeals in New Orleans, Mr. Gaubert received the go-ahead to pursue a claim against the Federal Home Loan Bank Board and the Federal Home Loan Bank of Dallas for losses he suffered when the Bank Board closed the Independent American Savings Association of Irving, Texas.@@@@1@55@@oe@2-2-2013
21692003@unknown@formal@none@1@S@Mr. Gaubert, who was chairman and the majority stockholder of Independent American, had relinquished his control in exchange for federal regulators' agreement to drop their inquiry into his activities at another savings and loan.@@@@1@34@@oe@2-2-2013
21692004@unknown@formal@none@1@S@As part of the agreement, Mr. Gaubert contributed real estate valued at $25 million to the assets of Independent American.@@@@1@20@@oe@2-2-2013
21692005@unknown@formal@none@1@S@While under the control of federal regulators, Independent American's net worth dropped from $75 million to a negative $400 million, wiping out the value of Mr. Gaubert's real estate contribution and his stock in the institution.@@@@1@36@@oe@2-2-2013
21692006@unknown@formal@none@1@S@Mr. Gaubert's suit to recover his damages was dismissed last year by U.S. District Judge Robert Maloney of Dallas under the Federal Tort Claims Act, which offers broad protection for actions by federal agencies and employees.@@@@1@36@@oe@2-2-2013
21692007@unknown@formal@none@1@S@Earlier this week, a Fifth Circuit appellate panel upheld Judge Maloney's dismissal of Mr. Gaubert's claim as a shareholder but said the judge should reconsider Mr. Gaubert's claim for the loss of his property.@@@@1@34@@oe@2-2-2013
21692008@unknown@formal@none@1@S@"It may depend on whether there was an express or implied promise . . . that the federal officials would not negligently cause the deterioration" of Independent American, the court wrote.@@@@1@31@@oe@2-2-2013
21692009@unknown@formal@none@1@S@Mr. Gaubert's lawyer, Abbe David Lowell of Washington, D.C., says the impact of the ruling on other cases involving thrift takeovers will depend on the degree of similarity in the facts.@@@@1@31@@oe@2-2-2013
21692010@unknown@formal@none@1@S@"I don't know if this will affect one institution or a hundred," Mr. Lowell says.@@@@1@15@@oe@2-2-2013
21692011@unknown@formal@none@1@S@"It does establish a very clear precedent for suing the FHLBB where there was none before."@@@@1@16@@oe@2-2-2013
21692012@unknown@formal@none@1@S@MAITRE'D CLAIMS in suit that restaurant fired her because she was pregnant.@@@@1@12@@oe@2-2-2013
21692013@unknown@formal@none@1@S@In a suit filed in state court in Manhattan, the American Civil Liberties Union is representing the former maitre'd of the chic Odeon restaurant.@@@@1@24@@oe@2-2-2013
21692014@unknown@formal@none@1@S@The suit, which seeks compensatory and punitive damages of $1 million, alleges that the firing of Marcia Trees Levine violated New York state's human-rights law.@@@@1@25@@oe@2-2-2013
21692015@unknown@formal@none@1@S@Among other things, the law prohibits discrimination on the basis of sex and pregnancy.@@@@1@14@@oe@2-2-2013
21692016@unknown@formal@none@1@S@The suit alleges that Ms. Levine was fired after she refused to accept a lower paying, less visible job upon reaching her sixth month of pregnancy.@@@@1@26@@oe@2-2-2013
21692017@unknown@formal@none@1@S@Ms. Levine told her employer that she was pregnant in February; a month later, the suit says, the restaurant manager told Ms. Levine that she would be demoted to his assistant because he felt customers would be uncomfortable with a pregnant maitre'd.@@@@1@42@@oe@2-2-2013
21692018@unknown@formal@none@1@S@Kary Moss, an attorney with the ACLU's Women's Rights Project, said, "They wanted a svelte-looking woman, and a pregnant woman is not svelte.@@@@1@23@@oe@2-2-2013
21692019@unknown@formal@none@1@S@They told her, 'We don't hire fat people and we don't hire cripples.@@@@1@13@@oe@2-2-2013
21692020@unknown@formal@none@1@S@And pregnant women are fat.'"@@@@1@5@@oe@2-2-2013
21692021@unknown@formal@none@1@S@Ms. Moss said Ms. Levine secretly taped many conversations with her bosses at the Odeon in which they told her she was being fired as maitre'd because she was pregnant.@@@@1@30@@oe@2-2-2013
21692022@unknown@formal@none@1@S@Paul H. Aloe, an attorney for Odeon owner Keith McNally, denied the allegations.@@@@1@13@@oe@2-2-2013
21692023@unknown@formal@none@1@S@He said Ms. Levine had never been fired, although she had stopped working at the restaurant.@@@@1@16@@oe@2-2-2013
21692024@unknown@formal@none@1@S@"The Odeon made a written offer to Marcia Levine on July 10 to return to work as the maitre'd, at the same pay, same hours and with back pay accrued," he said.@@@@1@32@@oe@2-2-2013
21692025@unknown@formal@none@1@S@Mr. Aloe said the Odeon "has no policy against hiring pregnant people."@@@@1@12@@oe@2-2-2013
21692026@unknown@formal@none@1@S@LAWYERS IN Texas's biggest bank-fraud case want out in face of retrial.@@@@1@12@@oe@2-2-2013
21692027@unknown@formal@none@1@S@Lawyers representing five of the seven defendants in the case say their clients can no longer afford their services.@@@@1@19@@oe@2-2-2013
21692028@unknown@formal@none@1@S@The trial of the case lasted seven months and ended in September with a hung jury.@@@@1@16@@oe@2-2-2013
21692029@unknown@formal@none@1@S@The defendants were indicted two years ago on charges that they conspired to defraud five thrifts of more than $130 million through a complicated scheme to inflate the price of land and condominium construction along Interstate 30, east of Dallas.@@@@1@40@@oe@2-2-2013
21692030@unknown@formal@none@1@S@The defense lawyers, three of whom are solo practitioners, say they can't afford to put their law practices on hold for another seven-month trial.@@@@1@24@@oe@2-2-2013
21692031@unknown@formal@none@1@S@Some of the lawyers say they would continue to represent their clients if the government pays their tab as court-appointed lawyers.@@@@1@21@@oe@2-2-2013
21692032@unknown@formal@none@1@S@Assistant U.S. Attorney Terry Hart of Dallas says the government will oppose any efforts to bring in a new defense team because it would delay a retrial.@@@@1@27@@oe@2-2-2013
21692033@unknown@formal@none@1@S@FEDERAL JUDGE ALCEE HASTINGS of Florida, facing impeachment, received an unanticipated boost yesterday.@@@@1@13@@oe@2-2-2013
21692034@unknown@formal@none@1@S@Sen. Arlen Specter (R., Pa.) urged acquittal of the judge in a brief circulated to his Senate colleagues during closed-door deliberations.@@@@1@21@@oe@2-2-2013
21692035@unknown@formal@none@1@S@Among other things, the brief cited insufficient evidence.@@@@1@8@@oe@2-2-2013
21692036@unknown@formal@none@1@S@Sen. Specter was vice chairman of the impeachment trial committee that heard evidence in the Hastings case last summer.@@@@1@19@@oe@2-2-2013
21692037@unknown@formal@none@1@S@A former prosecutor and member of the Senate Judiciary Committee, Sen. Specter is expected to exercise influence when the Senate votes on the impeachment today.@@@@1@25@@oe@2-2-2013
21692038@unknown@formal@none@1@S@RICHMOND RESIGNATIONS:@@@@1@2@@oe@2-2-2013
21692039@unknown@formal@none@1@S@Six partners in the Richmond, Va., firm of Browder, Russell, Morris & Butcher announced they are resigning.@@@@1@17@@oe@2-2-2013
21692040@unknown@formal@none@1@S@Five of the partners -- James W. Morris, Philip B. Morris, Robert M. White, Ann Adams Webster and Jacqueline G. Epps -- are opening a boutique in Richmond to concentrate on corporate defense litigation, particularly in product liability cases.@@@@1@39@@oe@2-2-2013
21692041@unknown@formal@none@1@S@The sixth partner, John H. OBrion, Jr., is joining Cowan & Owen, a smaller firm outside Richmond.@@@@1@17@@oe@2-2-2013
21692042@unknown@formal@none@1@S@LAW FIRM NOTES:@@@@1@3@@oe@2-2-2013
21692043@unknown@formal@none@1@S@Nixon, Hargrave, Devans & Doyle, based in Rochester, N.Y., has opened an office in Buffalo, N.Y. . . .@@@@1@19@@oe@2-2-2013
21692044@unknown@formal@none@1@S@Mayer, Brown & Platt, Chicago, added two partners to its Houston office, Eddy J. Roger Jr., and Jeff C. Dodd. . . .@@@@1@23@@oe@2-2-2013
21692045@unknown@formal@none@1@S@Copyright specialist Neil Boorstyn, who writes the monthly Copyright Law Journal newsletter, is joining McCutchen, Doyle, Brown & Enersen.@@@@1@19@@oe@2-2-2013
21693001@unknown@formal@none@1@S@New York Times Co.'s third-quarter earnings report is reinforcing analysts' belief that newspaper publishers will be facing continued poor earnings comparisons through 1990.@@@@1@23@@oe@2-2-2013
21693002@unknown@formal@none@1@S@The publisher was able to register soaring quarter net income because of a onetime gain on the sale of its cable-TV system.@@@@1@22@@oe@2-2-2013
21693003@unknown@formal@none@1@S@However, operating profit fell 35% to $16.4 million.@@@@1@8@@oe@2-2-2013
21693004@unknown@formal@none@1@S@The decline reflected the expense of buying three magazines, lower earnings from the forest-products group, and what is proving to be a nagging major problem, continued declines in advertising linage at the New York Times, the company's flagship daily newspaper.@@@@1@40@@oe@2-2-2013
21693005@unknown@formal@none@1@S@In composite trading on the American Stock Exchange, New York Times closed at $28.125 a share, down 37.5 cents.@@@@1@19@@oe@2-2-2013
21693006@unknown@formal@none@1@S@Analysts said the company's troubles mirror those of the industry.@@@@1@10@@oe@2-2-2013
21693007@unknown@formal@none@1@S@Retail advertising, which often represents half of the advertising volume at most daily newspapers, largely isn't rebounding in the second half from extended doldrums as expected.@@@@1@26@@oe@2-2-2013
21693008@unknown@formal@none@1@S@At the same time, newspapers are bedeviled by lagging national advertising, especially in its financial component.@@@@1@16@@oe@2-2-2013
21693009@unknown@formal@none@1@S@Dow Jones & Co. recently reported net fell 9.9%, a reflection, in part, of continued softness in financial advertising at The Wall Street Journal and Barron's magazine.@@@@1@27@@oe@2-2-2013
21693010@unknown@formal@none@1@S@"We expect next year to be a fairly soft year in newspaper-industry advertising," said John Morton, an analyst for Lynch, Jones & Ryan.@@@@1@23@@oe@2-2-2013
21693011@unknown@formal@none@1@S@"Next year, earnings will hold steady, but we just don't see a big turnaround in the trend in advertising."@@@@1@19@@oe@2-2-2013
21693012@unknown@formal@none@1@S@John S. Reidy, an analyst for Drexel Burnham Lambert Inc., said, "The Times faces the same problem of other publishers: linage is down.@@@@1@23@@oe@2-2-2013
21693013@unknown@formal@none@1@S@It will be hard to do handstands until real linage starts heading back up."@@@@1@14@@oe@2-2-2013
21693014@unknown@formal@none@1@S@In the quarterly report, Arthur Ochs Sulzberger, New York Times Co. chairman and chief executive officer, said negative factors affecting third-quarter earnings will continue.@@@@1@24@@oe@2-2-2013
21693015@unknown@formal@none@1@S@Analysts agreed with company expectations that operating profit will be down this year and in 1990.@@@@1@16@@oe@2-2-2013
21693016@unknown@formal@none@1@S@Mr. Sulzberger said the scheduled opening of a new color-printing plant in Edison, N.J., in 1990 would involve heavy startup and depreciation costs.@@@@1@23@@oe@2-2-2013
21693017@unknown@formal@none@1@S@"With the Edison plant coming on line next summer, the Times is facing some tough earnings comparison in the future," said Peter Appert, an analyst with C.J. Lawrence, Morgan Grenfell.@@@@1@30@@oe@2-2-2013
21693018@unknown@formal@none@1@S@"But many newspapers are facing similar comparisons."@@@@1@7@@oe@2-2-2013
21693019@unknown@formal@none@1@S@The sale of the company's cable franchise brought an after-tax gain of $193.3 million, part of which will be used to reduce debt.@@@@1@23@@oe@2-2-2013
21693020@unknown@formal@none@1@S@The company also has a stock-repurchase plan.@@@@1@7@@oe@2-2-2013
21693021@unknown@formal@none@1@S@Analysts said they were impressed by the performance of the company's newspaper group, which consists of the Times, 35 regional newspapers and a one-third interest in the International Herald Tribune; group operating profit for the quarter increased slightly to $34.9 million from $34.5 million on flat revenue.@@@@1@47@@oe@2-2-2013
21693022@unknown@formal@none@1@S@Drexel Burnham's Mr. Reidy pointed out that "profits held up in a tough revenue environment.@@@@1@15@@oe@2-2-2013
21693023@unknown@formal@none@1@S@That's a good sign when profits are stable during a time revenue is in the trough.@@@@1@16@@oe@2-2-2013
21694001@unknown@formal@none@1@S@Investors celebrated the second anniversary of Black Monday with a buying spree in both stocks and bonds.@@@@1@17@@oe@2-2-2013
21694002@unknown@formal@none@1@S@But the dollar was mixed.@@@@1@5@@oe@2-2-2013
21694003@unknown@formal@none@1@S@Stock and bond investors were cheered by last month's encouragingly low inflation rate.@@@@1@13@@oe@2-2-2013
21694004@unknown@formal@none@1@S@This news raised hopes for further interest-rate cuts.@@@@1@8@@oe@2-2-2013
21694005@unknown@formal@none@1@S@Treasury-bond prices immediately rallied, setting the stock market rolling from the opening bell.@@@@1@13@@oe@2-2-2013
21694006@unknown@formal@none@1@S@The Dow Jones Industrial Average, up about 60 points in mid-afternoon, finished with a gain of 39.55 points, to 2683.20.@@@@1@20@@oe@2-2-2013
21694007@unknown@formal@none@1@S@That brought the average's cumulative gain this week to about 114 points.@@@@1@12@@oe@2-2-2013
21694008@unknown@formal@none@1@S@Since the 1987 crash, the industrials have soared more than 54%, and the widely watched market barometer is about 4% below its record high set earlier this month.@@@@1@28@@oe@2-2-2013
21694009@unknown@formal@none@1@S@The stock-market rally was led by blue-chip issues, but, unlike Monday's rebound, was broadly based.@@@@1@15@@oe@2-2-2013
21694010@unknown@formal@none@1@S@Indeed, over-the-counter stocks, led by technology issues, outleaped the industrial average.@@@@1@11@@oe@2-2-2013
21694011@unknown@formal@none@1@S@The Nasdaq Composite Index soared 7.52, or 1.6%, to 470.80, its highest one-day jump in points this year.@@@@1@18@@oe@2-2-2013
21694012@unknown@formal@none@1@S@Many takeover-related stocks rose after news that a group obtained financing commitments for the proposed buy-out of American Medical International Inc.@@@@1@21@@oe@2-2-2013
21694013@unknown@formal@none@1@S@Among the biggest winners were brokerage-house stocks, responding to heavy trading volume.@@@@1@12@@oe@2-2-2013
21694014@unknown@formal@none@1@S@The government said consumer prices rose only 0.2% last month.@@@@1@10@@oe@2-2-2013
21694015@unknown@formal@none@1@S@Economists expected twice as large an increase.@@@@1@7@@oe@2-2-2013
21694016@unknown@formal@none@1@S@That news, plus recent signs of economic sluggishness, greatly increases pressure on the Federal Reserve to ease credit further, which in turn would be good news for stocks, investment managers say.@@@@1@31@@oe@2-2-2013
21694017@unknown@formal@none@1@S@"I see a lot of evidence indicating a slower economy, and that means my interest-rate outlook has a downward tilt," said Garnett L. Keith Jr., vice chairman of Prudential Insurance Co. of America, one of the nation's largest institutional investors.@@@@1@40@@oe@2-2-2013
21694018@unknown@formal@none@1@S@Fed officials probably won't drive down rates immediately, Mr. Keith said.@@@@1@11@@oe@2-2-2013
21694019@unknown@formal@none@1@S@Despite the inflation news, several Fed officials still fear consumer-price pressures will intensify because they insist the economy is stronger than generally believed.@@@@1@23@@oe@2-2-2013
21694020@unknown@formal@none@1@S@But Wall Street analysts expect further signs of economic weakness in government reports during the next few weeks.@@@@1@18@@oe@2-2-2013
21694021@unknown@formal@none@1@S@If so, that will cinch the case for another shot of credit-easing within a month or so.@@@@1@17@@oe@2-2-2013
21694022@unknown@formal@none@1@S@That, in turn, is expected to persuade banks to cut their prime lending rate, a benchmark rate on many corporate and consumer loans, by half a percentage point, to 10%.@@@@1@30@@oe@2-2-2013
21694023@unknown@formal@none@1@S@"We're not out of the woods yet by any means," said George R. Mateyo, president and chief executive of Carnegie Capital Management Co., Cleveland.@@@@1@24@@oe@2-2-2013
21694024@unknown@formal@none@1@S@But the economy "is slowing enough to give the Federal Reserve leeway to reduce interest rates."@@@@1@16@@oe@2-2-2013
21694025@unknown@formal@none@1@S@But many individual investors are leery about stocks because of fresh signs of fragility in the huge junk-bond market.@@@@1@19@@oe@2-2-2013
21694026@unknown@formal@none@1@S@Investors also are anxious about today's "witching hour," the monthly expiration of stock-index futures and options, and options on individual stocks.@@@@1@21@@oe@2-2-2013
21694027@unknown@formal@none@1@S@This phenomenon often makes stock prices swing wildly at the end of the trading session.@@@@1@15@@oe@2-2-2013
21694028@unknown@formal@none@1@S@In major market activity: Stock prices surged in heavy trading.@@@@1@10@@oe@2-2-2013
21694029@unknown@formal@none@1@S@Volume on the New York Stock Exchange rose to 198.1 million shares from 166.9 million Wednesday.@@@@1@16@@oe@2-2-2013
21694030@unknown@formal@none@1@S@Gaining Big Board issues outnumbered decliners by 1,235 to 355.@@@@1@10@@oe@2-2-2013
21694031@unknown@formal@none@1@S@The dollar was mixed.@@@@1@4@@oe@2-2-2013
21694032@unknown@formal@none@1@S@In New York late yesterday, it was at 141.70 yen, up from 141.45 yen late Wednesday.@@@@1@16@@oe@2-2-2013
21694033@unknown@formal@none@1@S@But it fell to 1.8470 marks from 1.8485.@@@@1@8@@oe@2-2-2013
21695001@unknown@formal@none@1@S@Tuesday's rout of a GOP congressional hopeful in a Mississippi district that hasn't backed a Democratic presidential candidate since Adlai Stevenson is another reminder that, at least at the federal level, political "ticket splitting" has been on the rise over the past half century.@@@@1@44@@oe@2-2-2013
21695002@unknown@formal@none@1@S@In only one presidential election year prior to 1948 did more than 20% of the nation's congressional districts choose a different party's candidate for the White House than for the House of Representatives.@@@@1@33@@oe@2-2-2013
21695003@unknown@formal@none@1@S@Now that percentage routinely equals a third and twice has been above 40%.@@@@1@13@@oe@2-2-2013
21695004@unknown@formal@none@1@S@As we know, voters tend to favor Republicans more in races for president than in those for Congress.@@@@1@18@@oe@2-2-2013
21695005@unknown@formal@none@1@S@In every presidential election over the past half century, except for the Goldwater presidential candidacy, the GOP has captured a greater percentage of the major-party popular vote for president than it has of congressional seats or the popular vote for Congress.@@@@1@41@@oe@2-2-2013
21695006@unknown@formal@none@1@S@Prior to 1932, the pattern was nearly the opposite.@@@@1@9@@oe@2-2-2013
21695007@unknown@formal@none@1@S@What accounts for the results of recent decades?@@@@1@8@@oe@2-2-2013
21695008@unknown@formal@none@1@S@A simple economic theory may provide at least a partial explanation for the split personality displayed by Americans in the voting booth.@@@@1@22@@oe@2-2-2013
21695009@unknown@formal@none@1@S@The theory relies on three assumptions:@@@@1@6@@oe@2-2-2013
21695010@unknown@formal@none@1@S@1) Voters can "buy" one of two brands when they select their political agents -- a Republican brand that believes in the minimalist state and in the virtues of private markets over the vices of public action, and a Democratic brand that believes in big government and in public intervention to remedy the excesses attendant to the pursuit of private interest.@@@@1@61@@oe@2-2-2013
21695011@unknown@formal@none@1@S@2) Congressional representatives have two basic responsibilities while voting in office -- dealing with national issues (programmatic actions such as casting roll call votes on legislation that imposes costs and/or confers benefits on the population at large) and attending to local issues (constituency service and pork barrel).@@@@1@47@@oe@2-2-2013
21695012@unknown@formal@none@1@S@3) Republican congressional representatives, because of their belief in a minimalist state, are less willing to engage in local benefit-seeking than are Democratic members of Congress.@@@@1@26@@oe@2-2-2013
21695013@unknown@formal@none@1@S@If these assumptions hold, voters in races for Congress face what in economic theory is called a prisoner's dilemma and have an incentive, at the margin, to lean Democratic.@@@@1@29@@oe@2-2-2013
21695014@unknown@formal@none@1@S@If they put a Republican into office, not only will they acquire less in terms of local benefits but their selected legislator will be relatively powerless to prevent other legislators from "bringing home the bacon" to their respective constituencies.@@@@1@39@@oe@2-2-2013
21695015@unknown@formal@none@1@S@Each legislator, after all, is only one out of 535 when it comes to national policy making.@@@@1@17@@oe@2-2-2013
21695016@unknown@formal@none@1@S@In races for the White House, a voter's incentive, at the margin, is to lean Republican.@@@@1@16@@oe@2-2-2013
21695017@unknown@formal@none@1@S@Although a GOP president may limit local benefits to the voter's particular district/state, such a president is also likely to be more effective at preventing other districts/states and their legislators from bringing home the local benefits.@@@@1@36@@oe@2-2-2013
21695018@unknown@formal@none@1@S@The individual voter's standing consequently will be enhanced through lower taxes.@@@@1@11@@oe@2-2-2013
21695019@unknown@formal@none@1@S@While this theory is exceedingly simple, it appears to explain several things.@@@@1@12@@oe@2-2-2013
21695020@unknown@formal@none@1@S@First, why ticket splitting has increased and taken the peculiar pattern that it has over the past half century: Prior to the election of Franklin Roosevelt as president and the advent of the New Deal, government occupied a much smaller role in society and the prisoner's dilemma problem confronting voters in races for Congress was considerably less severe.@@@@1@58@@oe@2-2-2013
21695021@unknown@formal@none@1@S@Second, it explains why voters hold Congress in disdain but generally love their own congressional representatives: Any individual legislator's constituents appreciate the specific benefits that the legislator wins for them but not the overall cost associated with every other legislator doing likewise for his own constituency.@@@@1@46@@oe@2-2-2013
21695022@unknown@formal@none@1@S@Third, the theory suggests why legislators who pay too much attention to national policy making relative to local benefit-seeking have lower security in office.@@@@1@24@@oe@2-2-2013
21695023@unknown@formal@none@1@S@For example, first-term members of the House, once the most vulnerable of incumbents, have become virtually immune to defeat.@@@@1@19@@oe@2-2-2013
21695024@unknown@formal@none@1@S@The one exception to this recent trend was the defeat of 13 of the 52 freshman Republicans brought into office in 1980 by the Reagan revolution and running for re-election in 1982.@@@@1@32@@oe@2-2-2013
21695025@unknown@formal@none@1@S@Because these freshmen placed far more emphasis on their partisan role -- spreading the Reagan revolution -- in national policy making, they were more vulnerable to defeat.@@@@1@27@@oe@2-2-2013
21695026@unknown@formal@none@1@S@Fourth, the theory indicates why the Republican Party may have a difficult time attracting viable candidates for congressional office.@@@@1@19@@oe@2-2-2013
21695027@unknown@formal@none@1@S@Potential candidates may be discouraged from running less by the congressional salary than by the prospect of defeat at the hands of a Democratic opponent.@@@@1@25@@oe@2-2-2013
21695028@unknown@formal@none@1@S@To the extent that potential Republican candidates and their financial backers realize that the congressional prisoner's dilemma game works to their disadvantage, the Republican Party will be hindered in its attempts to field a competitive slate of congressional candidates.@@@@1@39@@oe@2-2-2013
21695029@unknown@formal@none@1@S@Fifth, the theory may provide at least a partial reason for why ticket splitting has been particularly pronounced in the South.@@@@1@21@@oe@2-2-2013
21695030@unknown@formal@none@1@S@To the extent that Democratic legislators from the South have held a disproportionate share of power in Congress since 1932 and have been able to translate such clout into relatively more local benefits for their respective constituencies, voters in the South have had an especially strong incentive to keep such Democrats in office.@@@@1@53@@oe@2-2-2013
21695031@unknown@formal@none@1@S@Finally, the theory suggests why Republicans generally have fared better in Senate races than in campaigns for the House.@@@@1@19@@oe@2-2-2013
21695032@unknown@formal@none@1@S@Since local benefit-seeking matters more and national policy making matters less in the lower chamber of Congress, this is precisely the pattern one would expect if Republicans are less willing to engage in local benefit-seeking than their Democratic counterparts.@@@@1@39@@oe@2-2-2013
21695033@unknown@formal@none@1@S@Is there any empirical support for this theory?@@@@1@8@@oe@2-2-2013
21695034@unknown@formal@none@1@S@Three pieces of evidence corroborate the key assumption that Democratic legislators are more willing to engage in local benefit-seeking than their Republican colleagues.@@@@1@23@@oe@2-2-2013
21695035@unknown@formal@none@1@S@First, economists James Bennett and Thomas DiLorenzo find that GOP senators turn back roughly 10% more of their allocated personal staff budgets than Democrats do.@@@@1@25@@oe@2-2-2013
21695036@unknown@formal@none@1@S@To the extent that the primary duty of personal staff involves local benefit-seeking, this indicates that political philosophy leads congressional Republicans to pay less attention to narrow constituent concerns.@@@@1@29@@oe@2-2-2013
21695037@unknown@formal@none@1@S@Second, if the key assumption is valid, Democrats should have lower attendance rates on roll-call votes than Republicans do to the extent that such votes reflect national policy making and that participating in such votes takes away from the time a legislator could otherwise devote to local benefit-seeking.@@@@1@48@@oe@2-2-2013
21695038@unknown@formal@none@1@S@This is indeed what the data indicate, particularly in the case of the House.@@@@1@14@@oe@2-2-2013
21695039@unknown@formal@none@1@S@The Democratic House attendance rate has not exceeded the Republican House attendance rate since 1959.@@@@1@15@@oe@2-2-2013
21695040@unknown@formal@none@1@S@Finally, as shown in the table, Democrats allocate a higher proportion of their personal staffs to district offices -- where local benefit-seeking duties matter more and national policy making activities matter less relative to Washington offices.@@@@1@36@@oe@2-2-2013
21695041@unknown@formal@none@1@S@An examination of changes in personal staffing decisions in the Senate between 1986 and 1987 (when control of that body changed party hands), moreover, reveals that the personal staffing differences noted in the table cannot be attributed to the disproportionate control Democrats exercise, due to their majority-party status, over other resources such as committee staff.@@@@1@55@@oe@2-2-2013
21695042@unknown@formal@none@1@S@An additional piece of evidence from the Senate: Holding other factors constant, such as incumbency advantages and regional factors, the difference between popular votes for Republican presidential and senatorial candidates in states conducting a Senate election turns out to be a positive function of how onerous the federal government's tax burden is per state (a progressive tax rate hits higher-income states harder).@@@@1@62@@oe@2-2-2013
21695043@unknown@formal@none@1@S@Put more simply, GOP candidates for president are looked on more kindly by voters than Republican candidates for the Senate when the prisoner's dilemma is more severe.@@@@1@27@@oe@2-2-2013
21695044@unknown@formal@none@1@S@Moreover, ticket splitting appears to take the same peculiar pattern at the state government level as it does at the federal level.@@@@1@22@@oe@2-2-2013
21695045@unknown@formal@none@1@S@State government is more typically split along Republican-governor/Democratic-legislature lines than the reverse.@@@@1@12@@oe@2-2-2013
21695046@unknown@formal@none@1@S@A cross-state econometric investigation, furthermore, reveals that, holding other factors constant, the difference between a state's major-party vote going to the Republican gubernatorial candidate and the Republican share of the lower state house is a positive function of the state tax rate.@@@@1@42@@oe@2-2-2013
21695047@unknown@formal@none@1@S@In sum, at both the federal and state government levels at least part of the seemingly irrational behavior voters display in the voting booth may have an exceedingly rational explanation.@@@@1@30@@oe@2-2-2013
21695048@unknown@formal@none@1@S@Mr. Zupan teaches at the University of Southern California's business school.@@@@1@11@@oe@2-2-2013
21696001@unknown@formal@none@1@S@A House-Senate conference approved a nearly $17 billion State, Justice and Commerce Department bill that makes federal reparations for Japanese-Americans held in World War II internment camps a legal entitlement after next Oct. 1.@@@@1@34@@oe@2-2-2013
21696002@unknown@formal@none@1@S@The measure provides no money for the promised payments until then, but beginning in fiscal 1991, the government would be committed to meeting annual payments of as much as $500 million until the total liability of approximately $1.25 billion is paid.@@@@1@41@@oe@2-2-2013
21696003@unknown@formal@none@1@S@The action abandons earlier efforts to find offsetting cuts to fund the payments, but is widely seen as a more realistic means of expediting reparations first authorized in 1988.@@@@1@29@@oe@2-2-2013
21696004@unknown@formal@none@1@S@The action came as Congress sent to President Bush a fiscal 1990 bill providing an estimated $156.7 billion for the Departments of Labor, Education, Health and Human Services.@@@@1@28@@oe@2-2-2013
21696005@unknown@formal@none@1@S@Final approval was on a 67-31 roll call in the Senate, which sets the stage for a veto confrontation with Mr. Bush over the issue of publicly financed abortions for poor women.@@@@1@32@@oe@2-2-2013
21696006@unknown@formal@none@1@S@Reversing an eight-year federal policy, the measure supports Medicaid abortions in cases of rape and incest, but Mr. Bush has so far refused to support any specific exemption beyond instances in which the mother's life is in danger.@@@@1@38@@oe@2-2-2013
21696007@unknown@formal@none@1@S@Mr. Bush's veto power puts him a commanding position in the narrowly divided House, but a vote to override his position could well pick up new support because of the wealth of health and education programs financed in the underlying bill.@@@@1@41@@oe@2-2-2013
21696008@unknown@formal@none@1@S@The measure before the conference yesterday funds the Departments of State, Justice and Commerce through fiscal 1990.@@@@1@17@@oe@2-2-2013
21696009@unknown@formal@none@1@S@An estimated $1.32 billion is provided for next year's census, and negotiators stripped a Senate-passed rider seeking to block the counting of illegal aliens.@@@@1@24@@oe@2-2-2013
21696010@unknown@formal@none@1@S@Elsewhere in the Commerce Department, nearly $191.2 million is preserved for assistance programs under the Economic Development Administration.@@@@1@18@@oe@2-2-2013
21696011@unknown@formal@none@1@S@And in a footnote to the fall of House Speaker James Wright this year, the conference voted to rescind $11.8 million in unspent EDA funds for a Fort Worth, Texas, stockyards project that figured in ethics charges against the former Democratic leader.@@@@1@42@@oe@2-2-2013
21696012@unknown@formal@none@1@S@Fiscal pressures also forced the adoption of new fees charged by federal agencies, and an 18% increase in the Securities and Exchange Commission's budget would be financed entirely by an added $26 million in filing fees.@@@@1@36@@oe@2-2-2013
21696013@unknown@formal@none@1@S@In an unprecedented step, the measure anticipates another $30 million in receipts by having the Federal Bureau of Investigation charge for fingerprint services in civil cases -- a change that is almost certain to increase Pentagon costs in processing personnel and security clearances.@@@@1@43@@oe@2-2-2013
21696014@unknown@formal@none@1@S@The bill doesn't include an estimated $1.9 billion in supplemental anti-drug funds for Justice Department and law-enforcement accounts that are still in conference with the House.@@@@1@26@@oe@2-2-2013
21696015@unknown@formal@none@1@S@But yesterday's agreement would make it easier for state governments to handle the promised aid by deferring for one year a scheduled 50% increase in the required state matching funds for law-enforcement grants.@@@@1@33@@oe@2-2-2013
21696016@unknown@formal@none@1@S@Similarly, the measure adjusts the current funding formula to promise smaller states such as New Hampshire and Delaware a minimum allocation of $1.6 million each in drug grants, or three times the current minimum.@@@@1@34@@oe@2-2-2013
21696017@unknown@formal@none@1@S@The odd mix of departments in the bill makes it one of the more eclectic of the annual appropriations measures, and the assorted provisions attached by lawmakers run from $1.5 million for a fish farm in Arkansas to a music festival in Moscow under the United States Information Agency.@@@@1@49@@oe@2-2-2013
21696018@unknown@formal@none@1@S@Lawmakers scrapped all of a $7.4 million State Department request for the 1992 Expo in Seville, Spain, but agreed elsewhere to $15,000 for an oil portrait of former Chief Justice Warren Burger.@@@@1@32@@oe@2-2-2013
21696019@unknown@formal@none@1@S@Senate Commerce Committee Chairman Ernest Hollings (D., S.C.), who also chairs the Senate appropriations subcommittee for the department, attached $10 million for an advanced technology initiative, including work on high-definition television.@@@@1@31@@oe@2-2-2013
21696020@unknown@formal@none@1@S@His Republican counterpart, Sen. Warren Rudman (R., N.H.), has used his position to wage a legislative war with the conservative board of the Legal Services Corp.@@@@1@26@@oe@2-2-2013
21696021@unknown@formal@none@1@S@An estimated $321 million is provided to maintain the program, but Mr. Rudman also succeeded in attaching language seeking to curb the authority of the current board until new members are confirmed.@@@@1@32@@oe@2-2-2013
21696022@unknown@formal@none@1@S@The effective date of any new regulations by the current board would be delayed until Oct. 1 next year, and the bill seeks to reverse efforts by the corporation to cut off funds to service organizations such as the Food Research and Action Center.@@@@1@44@@oe@2-2-2013
21696023@unknown@formal@none@1@S@The bill also provides $620.5 million to meet U.S. contributions to international organizations and $80 million for peace-keeping activities.@@@@1@19@@oe@2-2-2013
21696024@unknown@formal@none@1@S@Both accounts reflect significant increases from fiscal 1989, although the amount for peace-keeping shows a 27% cut from the administration's request.@@@@1@21@@oe@2-2-2013
21697001@unknown@formal@none@1@S@Mercury Savings & Loan Association said it retained Merrill Lynch Capital Markets as its lead investment banker to advise it regarding a possible sale or other combination of the Huntington Beach, Calif., thrift.@@@@1@33@@oe@2-2-2013
21697002@unknown@formal@none@1@S@Mercury, which has assets of more than $2 billion and 24 branches in California, said the action to improve its regulatory capital position is related directly to new capital requirements mandated by recently adopted federal legislation.@@@@1@36@@oe@2-2-2013
21697003@unknown@formal@none@1@S@Mercury also said it extended its two-year advisory relationship with Montgomery Securities of San Francisco.@@@@1@15@@oe@2-2-2013
21697004@unknown@formal@none@1@S@Mercury's stock closed yesterday at $4.875, unchanged in composite trading on the New York Stock Exchange.@@@@1@16@@oe@2-2-2013
21698001@unknown@formal@none@1@S@Watching Congress sweat and grimace through its annual budget labors, fighting the urge to spend more, we're reminded of those late-night movies in which the anguished serial killer turns himself in to police and says, "Stop me before I kill again."@@@@1@41@@oe@2-2-2013
21698002@unknown@formal@none@1@S@The Members know they're doing wrong, but they need help to restrain their darker compulsions.@@@@1@15@@oe@2-2-2013
21698003@unknown@formal@none@1@S@Arkansas Democrat David Pryor spilled his guts on the Senate floor the other day after he'd joined the Finance Committee's early-morning pork-barrel revels: "I must tell you . . .@@@@1@30@@oe@2-2-2013
21698004@unknown@formal@none@1@S@I come to the floor tonight as one who ended up with a busload of extraneous matter.@@@@1@17@@oe@2-2-2013
21698005@unknown@formal@none@1@S@It was nothing more or nothing less than a feeding frenzy."@@@@1@11@@oe@2-2-2013
21698006@unknown@formal@none@1@S@He was turning himself in.@@@@1@5@@oe@2-2-2013
21698007@unknown@formal@none@1@S@"Frankly, as I was walking back to get in my car, I heard many, many people . . . opening champagne bottles and celebrating individual victories that some of us had accomplished in getting our little deal in the tax bill and winking at this person for slipping this in," he said.@@@@1@52@@oe@2-2-2013
21698008@unknown@formal@none@1@S@"As I was driving home, I did not feel very good about myself."@@@@1@13@@oe@2-2-2013
21698009@unknown@formal@none@1@S@We can applaud Mr. Pryor's moment of epiphany, even as we understand that he and his confreres need restraint lest they kill again.@@@@1@23@@oe@2-2-2013
21698010@unknown@formal@none@1@S@A good place to start the rehabilitation is a "legislative line-item veto" bill now being offered by Indiana Senator Dan Coats.@@@@1@21@@oe@2-2-2013
21698011@unknown@formal@none@1@S@The Coats bill, which already has 32 Senate co-sponsors, isn't a pure line-item veto because it would apply only to spending bills.@@@@1@22@@oe@2-2-2013
21698012@unknown@formal@none@1@S@Instead it's a form of "enhanced rescission," giving a President a chance to rescind, or strike, specific spending items that just go too far.@@@@1@24@@oe@2-2-2013
21698013@unknown@formal@none@1@S@Under the proposal, a President would have a chance twice each year to return a package of "rescissions" to the Hill -- once when he proposes his budget and again after Congress disposes.@@@@1@33@@oe@2-2-2013
21698014@unknown@formal@none@1@S@Congress would have 20 days to reject the package with a 50% majority, but then a President could veto that rejection.@@@@1@21@@oe@2-2-2013
21698015@unknown@formal@none@1@S@Congress would then need the usual two-thirds majority to override any veto.@@@@1@12@@oe@2-2-2013
21698016@unknown@formal@none@1@S@The proposal would restore some discipline erased from the budget process by the 1974 Budget "Reform" Act.@@@@1@17@@oe@2-2-2013
21698017@unknown@formal@none@1@S@Before 1974, a President could "impound," or refuse to spend, funds appropriated by Congress.@@@@1@14@@oe@2-2-2013
21698018@unknown@formal@none@1@S@Presidents Kennedy and Johnson were both big users of the impoundment power, but Congress saw its chance against a weakened President Nixon and stripped it away.@@@@1@26@@oe@2-2-2013
21698019@unknown@formal@none@1@S@Today a President can still send up spending rescissions, but they're meaningless unless Congress has a guilty conscience and changes its mind.@@@@1@22@@oe@2-2-2013
21698020@unknown@formal@none@1@S@This is like asking foxes to feel remorse about chickens, and naturally rescissions are almost never approved.@@@@1@17@@oe@2-2-2013
21698021@unknown@formal@none@1@S@In 1987, President Reagan sent 73 rescissions back to the Hill, but only 3% of the spending total was approved by Congress.@@@@1@22@@oe@2-2-2013
21698022@unknown@formal@none@1@S@Senator Coats's proposal would let the proposed spending cuts take place automatically unless Congress acts.@@@@1@15@@oe@2-2-2013
21698023@unknown@formal@none@1@S@The Members could still try to serve their constituents with special-interest goodies, but the police (in the form of a President) would be there with a straitjacket if they really get crazy, as they do now.@@@@1@36@@oe@2-2-2013
21698024@unknown@formal@none@1@S@Mr. Coats plans to offer his proposal as an amendment to a bill to raise the federal debt limit before the end of the month.@@@@1@25@@oe@2-2-2013
21698025@unknown@formal@none@1@S@President Bush has endorsed the idea, and at least 50 sitting Senators have voted to support enhanced rescission authority in the past.@@@@1@22@@oe@2-2-2013
21698026@unknown@formal@none@1@S@We're told Senator Pryor isn't yet a co-sponsor, but if he and his colleagues are serious about kicking their compulsions, they'll sign up.@@@@1@23@@oe@2-2-2013
21699001@unknown@formal@none@1@S@Business and civic operations lurched back toward normalcy here as congressional officials estimated that the price tag for emergency assistance to earthquake-ravaged California would total at least $2.5 billion.@@@@1@29@@oe@2-2-2013
21699002@unknown@formal@none@1@S@"That is a minimum figure, and I underscore minimum," said House Speaker Thomas Foley (D., Wash.) after conferring with California lawmakers.@@@@1@21@@oe@2-2-2013
21699003@unknown@formal@none@1@S@"It's impossible to put an exact figure on it at this time."@@@@1@12@@oe@2-2-2013
21699004@unknown@formal@none@1@S@The Office of Management and Budget has begun looking into legislation to provide more funds for earthquake repairs.@@@@1@18@@oe@2-2-2013
21699005@unknown@formal@none@1@S@And California's 45-member delegation in the House is expected to propose that emergency funds be added to a stop-gap spending bill that the House Appropriations Committee is to consider Monday.@@@@1@30@@oe@2-2-2013
21699006@unknown@formal@none@1@S@For the most part, major corporations' headquarters and plants were unaffected or only slightly damaged by Tuesday's earthquake, which registered 6.9 on the Richter scale.@@@@1@25@@oe@2-2-2013
21699007@unknown@formal@none@1@S@One of the last big employers in the Silicon Valley to report in, Seagate Technology, said it expects to be back at full strength Monday.@@@@1@25@@oe@2-2-2013
21699008@unknown@formal@none@1@S@The day before the quake, Seagate completed three days of emergency training and drills.@@@@1@14@@oe@2-2-2013
21699009@unknown@formal@none@1@S@Echoing the response of almost all big corporations in the Bay Area, Don Waite, Seagate's chief financial officer, said, "I wouldn't expect this to have any significant financial impact."@@@@1@29@@oe@2-2-2013
21699010@unknown@formal@none@1@S@The city's recovery from the earthquake was uneven.@@@@1@8@@oe@2-2-2013
21699011@unknown@formal@none@1@S@Banks indicated they were operating at greater than 90% of their usual capacity, but a Nob Hill hotel said tourists had fled, leaving the previously full hotel with an 80% vacancy rate.@@@@1@32@@oe@2-2-2013
21699012@unknown@formal@none@1@S@City crews tallied the wreckage to buildings, but lacked a clear sense of how gravely transportation arteries were disabled.@@@@1@19@@oe@2-2-2013
21699013@unknown@formal@none@1@S@Among the city's banks, Bank of America said all but eight of its 850 branches were open.@@@@1@17@@oe@2-2-2013
21699014@unknown@formal@none@1@S@The closed branches, in San Francisco, Hayward, Santa Clara and Santa Cruz, sustained structural damage.@@@@1@15@@oe@2-2-2013
21699015@unknown@formal@none@1@S@Power failures kept just seven of its 1,500 automated-teller machines off-line.@@@@1@11@@oe@2-2-2013
21699016@unknown@formal@none@1@S@Securities-trading operations were moved to Bank of America's Concord office, and foreign-exchange trading operations were shifted to Los Angeles, the bank said.@@@@1@22@@oe@2-2-2013
21699017@unknown@formal@none@1@S@Wells Fargo & Co. said its Emergency Operations Committee -- which met all night Tuesday -- moved its global-funds transfer system to El Monte, Calif., 500 miles to the south.@@@@1@30@@oe@2-2-2013
21699018@unknown@formal@none@1@S@Only five of 496 branches statewide remain closed, while 23 of 600 automated-teller machines remained out of order.@@@@1@18@@oe@2-2-2013
21699019@unknown@formal@none@1@S@The most extensive damage was in small towns near the quake's epicenter, 80 miles south of San Francisco.@@@@1@18@@oe@2-2-2013
21699020@unknown@formal@none@1@S@Santa Cruz County estimates total damage at nearly $600 million.@@@@1@10@@oe@2-2-2013
21699021@unknown@formal@none@1@S@Santa Clara County has a running total so far of $504 million, excluding the hard-hit city of Los Gatos.@@@@1@19@@oe@2-2-2013
21699022@unknown@formal@none@1@S@Oakland officials were still uncertain about the magnitude of structural damage late yesterday; a section of I-880, a twotiered highway, collapsed in Oakland, causing a majority of the deaths resulting from the quake.@@@@1@33@@oe@2-2-2013
21699023@unknown@formal@none@1@S@San Francisco Mayor Art Agnos estimated that damages to the city total $2 billion.@@@@1@14@@oe@2-2-2013
21699024@unknown@formal@none@1@S@That includes dwellings in the ravaged Marina district that must be demolished, peeled business facades south of Market Street, and houses in the city's outer Richmond district that were heaved off their foundations.@@@@1@33@@oe@2-2-2013
21699025@unknown@formal@none@1@S@Many streets and sidewalks buckled, and subterranean water mains and service connections ruptured.@@@@1@13@@oe@2-2-2013
21699026@unknown@formal@none@1@S@The federal funds would go to a range of programs, including the Federal Emergency Management Agency, highway construction accounts and the Small Business Administration, according to Rep. Vic Fazio (D., Calif.).@@@@1@31@@oe@2-2-2013
21699027@unknown@formal@none@1@S@FEMA, which coordinates federal disaster relief, is already strapped by the costs of cleaning up after Hurricane Hugo, which hit the Carolinas last month.@@@@1@24@@oe@2-2-2013
21699028@unknown@formal@none@1@S@It is likely to get as much as $800 million initially in additional funds, and eventually could get more than $1 billion, according to Mr. Fazio, a member of the House Appropriations Committee.@@@@1@33@@oe@2-2-2013
21699029@unknown@formal@none@1@S@White House spokesman Marlin Fitzwater said there is enough money on hand to deal with immediate requirements.@@@@1@17@@oe@2-2-2013
21699030@unknown@formal@none@1@S@The Bush administration has at its disposal $273 million in funds remaining from the $1.1 billion Congress released for the cleanup after Hurricane Hugo.@@@@1@24@@oe@2-2-2013
21699031@unknown@formal@none@1@S@"We feel we have the money necessary to handle the immediate, short-term requirements," Mr. Fitzwater said.@@@@1@16@@oe@2-2-2013
21699032@unknown@formal@none@1@S@He added that the Office of Management and Budget, the Transportation Department and other agencies are "developing longer-term legislation" that should be ready soon.@@@@1@24@@oe@2-2-2013
21699033@unknown@formal@none@1@S@Much of the cost of cleaning up after the earthquake will involve repairing highways and bridges.@@@@1@16@@oe@2-2-2013
21699034@unknown@formal@none@1@S@California lawmakers are seeking changes in rules governing the federal highway relief program so more money can be made available for the state.@@@@1@23@@oe@2-2-2013
21699035@unknown@formal@none@1@S@Some things can't be repaired.@@@@1@5@@oe@2-2-2013
21699036@unknown@formal@none@1@S@The Asian Art Museum in Golden Gate Park reports $10 million to $15 million in damage, including shattered porcelains and stone figures.@@@@1@22@@oe@2-2-2013
21699037@unknown@formal@none@1@S@Its neighbor, the De Young Museum, totaled $3 million to $5 million in structural damage and shattered sculpture.@@@@1@18@@oe@2-2-2013
21699038@unknown@formal@none@1@S@The city's main library is closed because of fissures that opened in its walls, and marble facings and ornamental plaster at the Beaux Arts City Hall broke off in the temblor.@@@@1@31@@oe@2-2-2013
21699039@unknown@formal@none@1@S@The ground along the Embarcaderothe street that skirts the city's eastern boundary and piers -- dropped six inches after the quake, wreaking major damage to at least one of the piers.@@@@1@31@@oe@2-2-2013
21699040@unknown@formal@none@1@S@At San Francisco International Airport, shock waves wrecked the control tower, knocking down computers and shattering glass.@@@@1@17@@oe@2-2-2013
21699041@unknown@formal@none@1@S@Offices of the city's Rent Board were destroyed.@@@@1@8@@oe@2-2-2013
21699042@unknown@formal@none@1@S@Mayor Agnos's $2 billion estimate doesn't include damage to freeway arteries leading into the city, some of which remained closed.@@@@1@20@@oe@2-2-2013
21699043@unknown@formal@none@1@S@A major chunk of the $2 billion is expected to be eaten up by overtime for city workers deployed in the emergency, said a spokesman for Mr. Agnos.@@@@1@28@@oe@2-2-2013
21699044@unknown@formal@none@1@S@"All of the city's $5.9 million emergency reserve was spent in the first 24 hours" on overtime salaries, he said.@@@@1@20@@oe@2-2-2013
21699045@unknown@formal@none@1@S@Insurers struggled to to get a firm grasp on the volume of claims pouring into their offices.@@@@1@17@@oe@2-2-2013
21699046@unknown@formal@none@1@S@At Fireman's Fund Corp., a spokesman said 142 claims were received in the first 24 hours after the quake, and the company is braced for as many as 5,000 claims from its 35,000 residential and 35,000 business policyholders in the affected area.@@@@1@42@@oe@2-2-2013
21699047@unknown@formal@none@1@S@"Claims range from a scratched fender -- and there were an awful lot of cars damaged in this -- to a major processing plant," a spokesman said.@@@@1@27@@oe@2-2-2013
21699048@unknown@formal@none@1@S@"We're delivering a check for $750,000 to an automotive business in Berkeley that burned on Tuesday."@@@@1@16@@oe@2-2-2013
21699049@unknown@formal@none@1@S@Fireman's is part of a $38 million syndicate that supplies business interruption insurance to the city on the Bay Bridge, which must pay employees during the three weeks or more it is expected to be out of service and deprived of toll income.@@@@1@43@@oe@2-2-2013
21699050@unknown@formal@none@1@S@California lawmakers want to eliminate temporarily a $100 million cap on the amount of federal highway relief for each state for each disaster, as well as a prohibition on using the emergency highway aid to repair toll roads.@@@@1@38@@oe@2-2-2013
21699051@unknown@formal@none@1@S@In addition, under the highway-relief program, the federal government provides 100% of emergency highway aid for only the first 90 days of a repair effort.@@@@1@25@@oe@2-2-2013
21699052@unknown@formal@none@1@S@After that, the federal share diminishes.@@@@1@6@@oe@2-2-2013
21699053@unknown@formal@none@1@S@For interstate highways, the federal share normally would drop to 90% of the cost of repairs, and the state would have to pick up the remainder of the cost.@@@@1@29@@oe@2-2-2013
21699054@unknown@formal@none@1@S@But lawmakers want to extend the period for 100% federal funding for several months.@@@@1@14@@oe@2-2-2013
21699055@unknown@formal@none@1@S@Those changes also would apply to two areas hit hard by Hurricane Hugo -- South Carolina and the U.S. Virgin Islands, according to an aide to Rep. Fazio.@@@@1@28@@oe@2-2-2013
21699056@unknown@formal@none@1@S@Meanwhile, the FEMA announced a toll-free telephone number (800-462-9029) to expedite service to victims of the earthquake.@@@@1@17@@oe@2-2-2013
21699057@unknown@formal@none@1@S@Lines will be available 24 hours a day to take applications for such disaster relief as temporary housing and emergency home repairs by phone.@@@@1@24@@oe@2-2-2013
21699058@unknown@formal@none@1@S@Transportation officials are expecting utter traffic pandemonium beginning Monday and growing worse over the next several weeks.@@@@1@17@@oe@2-2-2013
21699059@unknown@formal@none@1@S@Some 250,000 cars normally cross the closed Bay Bridge between Oakland and San Francisco daily.@@@@1@15@@oe@2-2-2013
21699060@unknown@formal@none@1@S@Officials say it is clear that alternate routes can't handle the overflow.@@@@1@12@@oe@2-2-2013
21699061@unknown@formal@none@1@S@The state is calling in a flotilla of navy landing vessels and other boats to expand ferry service across the bay and hopes to add numerous new bus routes and train departures to help alleviate the traffic problem.@@@@1@38@@oe@2-2-2013
21699062@unknown@formal@none@1@S@Moreover, state officials are urging freight haulers to bypass many of the area's main highways and to travel late at night or during predawn hours.@@@@1@25@@oe@2-2-2013
21699063@unknown@formal@none@1@S@Even so, "We're looking for chaos," said George Gray, a deputy district director at the California Department of Transportation.@@@@1@19@@oe@2-2-2013
21699064@unknown@formal@none@1@S@"If there's any way you can do it, you ought to go to Idaho and go fishing for a while."@@@@1@20@@oe@2-2-2013
21699065@unknown@formal@none@1@S@Most of San Francisco's tourists and business travelers already have left -- despite hotel's offers of rate cuts.@@@@1@18@@oe@2-2-2013
21699066@unknown@formal@none@1@S@"Everyone left," said Peter Lang, reservations manager of the Mark Hopkins Hotel.@@@@1@12@@oe@2-2-2013
21699067@unknown@formal@none@1@S@The Westin St. Francis hotel, which survived the 1906 earthquake and fire, currently is less than 50% occupied.@@@@1@18@@oe@2-2-2013
21699068@unknown@formal@none@1@S@"We still have our die-hard baseball fans," a spokesman said.@@@@1@10@@oe@2-2-2013
21699069@unknown@formal@none@1@S@"One lady from New York said she's not going home until the {World Series} is over."@@@@1@16@@oe@2-2-2013
21699070@unknown@formal@none@1@S@Gerald F. Seib and Joe Davidson in Washington contributed to this article.@@@@1@12@@oe@2-2-2013
21700001@unknown@formal@none@1@S@Is an American Secretary of State seriously suggesting that the Khmer Rouge should help govern Cambodia?@@@@1@16@@oe@2-2-2013
21700002@unknown@formal@none@1@S@Apparently so.@@@@1@2@@oe@2-2-2013
21700003@unknown@formal@none@1@S@There are no easy choices in Cambodia, but we can't imagine that it benefits the U.S. to become the catalyst for an all-too-familiar process that could end in another round of horror in Cambodia.@@@@1@34@@oe@2-2-2013
21700004@unknown@formal@none@1@S@Now that Vietnam appears to have pulled out its occupation army, the State Department is talking again about accepting an "interim" coalition government in the Cambodian capital of Phnom Penh.@@@@1@30@@oe@2-2-2013
21700005@unknown@formal@none@1@S@The coalition would include the current Vietnamese-backed Hun Sen regime, the two non-communist resistance groups led by Son Sann and Prince Sihanouk, and the Khmer Rouge.@@@@1@26@@oe@2-2-2013
21700006@unknown@formal@none@1@S@The aim would be to end the guerrilla war for control of Cambodia by allowing the Khmer Rouge a small share of power.@@@@1@23@@oe@2-2-2013
21700007@unknown@formal@none@1@S@The State Department says that any Khmer Rouge participation would have to be "minimal."@@@@1@14@@oe@2-2-2013
21700008@unknown@formal@none@1@S@The usual problem with including communists in "interim" coalition governments is that their ideology and methods require they squeeze out everyone else.@@@@1@22@@oe@2-2-2013
21700009@unknown@formal@none@1@S@Recall that Nicaragua's Sandinistas came into Managua as partners in a coalition government with anti-Somoza moderates.@@@@1@16@@oe@2-2-2013
21700010@unknown@formal@none@1@S@Within two years, the moderates were exiled or in prison, Nicaragua had gone communist, and the Sandinistas were building one of the biggest armies in Latin America and threatening their neighbors.@@@@1@31@@oe@2-2-2013
21700011@unknown@formal@none@1@S@In Laos, when the Western powers bowed to pressure for such a coalition it turned out they were opening the door to communist domination.@@@@1@24@@oe@2-2-2013
21700012@unknown@formal@none@1@S@Even Mao Tse-tung's China began in 1949 with a partnership between the communists and a number of smaller, non-communist parties.@@@@1@20@@oe@2-2-2013
21700013@unknown@formal@none@1@S@What complicates the scene in Cambodia is that the current regime is already communist, as are its Vietnamese overseers back in Hanoi, as are the Khmer Rouge -- who are the strongest of the three guerrilla groups.@@@@1@37@@oe@2-2-2013
21700014@unknown@formal@none@1@S@It's not clear which crew of communists might prevail in a coalition government, but the one good bet is that the non-communists would disappear.@@@@1@24@@oe@2-2-2013
21700015@unknown@formal@none@1@S@That would leave Hun Sen and the Khmer Rouge.@@@@1@9@@oe@2-2-2013
21700016@unknown@formal@none@1@S@The Hun Sen regime has sent thousands of conscript laborers to die of malaria and malnourishment while building Cambodia's equivalent of the Berlin Wall near the Thai border.@@@@1@28@@oe@2-2-2013
21700017@unknown@formal@none@1@S@The Khmer Rouge, however, carry an unsurpassed record for Cambodian tyranny.@@@@1@11@@oe@2-2-2013
21700018@unknown@formal@none@1@S@These utopians caused the deaths -- by starvation, disease or execution -- of well over one million Cambodians.@@@@1@18@@oe@2-2-2013
21700019@unknown@formal@none@1@S@The Cambodian horror was so bad that the Vietnamese occupation in 1978 was a perverse form of relief.@@@@1@18@@oe@2-2-2013
21700020@unknown@formal@none@1@S@The world might want to believe that the Khmer Rouge can't still be such bad guys, just as in the late 1970s it was reluctant to credit the reports of genocide then taking place.@@@@1@34@@oe@2-2-2013
21700021@unknown@formal@none@1@S@But there is no solid evidence that the Khmer Rouge have changed.@@@@1@12@@oe@2-2-2013
21700022@unknown@formal@none@1@S@Some of our sources in Thailand say the notorious old Khmer Rouge leader, Pol Pot, has been holed up this summer in Khmer Rouge camps near the Thai-Cambodian border.@@@@1@29@@oe@2-2-2013
21700023@unknown@formal@none@1@S@So it's difficult to swallow the notion that Mr. Baker is willing to accept conditions that would help the Khmer Rouge set up shop again in Phnom Penh.@@@@1@28@@oe@2-2-2013
21700024@unknown@formal@none@1@S@True, Prince Sihanouk backs the idea of such a coalition, at least for this week.@@@@1@15@@oe@2-2-2013
21700025@unknown@formal@none@1@S@But Prince Sihanouk has backed all sorts of ideas over the years, and done rather better by himself than by Cambodia.@@@@1@21@@oe@2-2-2013
21700026@unknown@formal@none@1@S@Nor should the U.S. worry much about offending China, which still aids the Khmer Rouge.@@@@1@15@@oe@2-2-2013
21700027@unknown@formal@none@1@S@It's time the State Department recognized that China does not play by gentlemen's rules.@@@@1@14@@oe@2-2-2013
21700028@unknown@formal@none@1@S@For the U.S. to lend even the slightest support to the most infamous killers on Indochina's bleak scene could only disturb America's allies elsewhere.@@@@1@24@@oe@2-2-2013
21700029@unknown@formal@none@1@S@It would be entirely rational for communist insurgents in countries such as the Philippines or Peru to conclude the following: Fight viciously enough and the U.S., under the banner of pragmatism, might eventually help negotiate your way to victory.@@@@1@39@@oe@2-2-2013
21700030@unknown@formal@none@1@S@U.S. diplomacy has done it before, and it will likely do it again.@@@@1@13@@oe@2-2-2013
21700031@unknown@formal@none@1@S@The administration and Congress have lately tangoed around the idea of sending military aid to Cambodia's non-communists.@@@@1@17@@oe@2-2-2013
21700032@unknown@formal@none@1@S@But now the possibility of "diplomatic movement" (Vietnam's withdrawal, the Baker initiative) has put that plan on hold, with the proviso that if the going got rough, the U.S. would then rearm the opposition.@@@@1@34@@oe@2-2-2013
21700033@unknown@formal@none@1@S@Why the timidity?@@@@1@3@@oe@2-2-2013
21700034@unknown@formal@none@1@S@At the very least, the odds are heavily weighted against the prospects of preventing the Khmer Rouge and Cambodia's communists from ultimately moving against their opponents.@@@@1@26@@oe@2-2-2013
21700035@unknown@formal@none@1@S@When that day comes, it would be particularly awful to know that the United States sat on military aid and deprived these people of the means to settle their fate with at least a little honor.@@@@1@36@@oe@2-2-2013
21701001@unknown@formal@none@1@S@Michael F. Harris, 53, was named executive vice president, North America, for the Financial Times, the business newspaper published by this company that also has interests in book publishing, fine china, oil services and investment banking.@@@@1@36@@oe@2-2-2013
21701002@unknown@formal@none@1@S@Mr. Harris had been vice president for the newspaper's advertising in New York.@@@@1@13@@oe@2-2-2013
21701003@unknown@formal@none@1@S@He takes additional responsibility for newspaper sales and distribution of the Financial Times in North America.@@@@1@16@@oe@2-2-2013
21701004@unknown@formal@none@1@S@Laurance V. Allen, 44, who had been director for North America, resigned to pursue other business interests and do some consulting.@@@@1@21@@oe@2-2-2013
21702001@unknown@formal@none@1@S@Cipher Data Products Inc. posted a net loss of $14.2 million, or 97 cents a share, for its fiscal first quarter, compared with net income of $3.8 million, or 27 cents a share, a year ago.@@@@1@36@@oe@2-2-2013
21702002@unknown@formal@none@1@S@Revenue for the quarter ended Sept. 30 fell 20%, to $41.3 million from $51.9 million in the year-earlier period.@@@@1@19@@oe@2-2-2013
21702003@unknown@formal@none@1@S@Cipher Data, a San Diego maker of magnetic tape peripherals and optical disc drives, said the loss included reserves of $3.8 million related to a corporate restructuring.@@@@1@27@@oe@2-2-2013
21702004@unknown@formal@none@1@S@The restructuring calls for a 24% reduction in its work force over the next two months, affecting about 525 jobs, Cipher Data said.@@@@1@23@@oe@2-2-2013
21702005@unknown@formal@none@1@S@It is eliminating the positions of president and chief operating officer, formerly held by Edward L. Marinaro.@@@@1@17@@oe@2-2-2013
21702006@unknown@formal@none@1@S@Cipher Data said Mr. Marinaro consequently has resigned from those posts and from the company's board.@@@@1@16@@oe@2-2-2013
21702007@unknown@formal@none@1@S@Mr. Marinaro couldn't immediately be reached for comment.@@@@1@8@@oe@2-2-2013
21703001@unknown@formal@none@1@S@FileNet Corp., Costa Mesa, Calif., said it expects to report a third-quarter loss of about $1.8 million, or 17 cents a share, because of a $2.5 million reserve to be taken against potential losses on a contract with the state of California.@@@@1@42@@oe@2-2-2013
21703002@unknown@formal@none@1@S@Revenue is estimated at $18.6 million.@@@@1@6@@oe@2-2-2013
21703003@unknown@formal@none@1@S@The maker of document image processing equipment said the state procurement division had declared FileNet in default on its contract with the secretary of state uniform commercial code division.@@@@1@29@@oe@2-2-2013
21703004@unknown@formal@none@1@S@FileNet said it doesn't believe the state has a valid basis of default and is reviewing its legal rights under the contract, but said it can't predict the outcome of the dispute.@@@@1@32@@oe@2-2-2013
21703005@unknown@formal@none@1@S@The disagreement centers on testing deadlines and other issues involving a FileNet system installed earlier this year.@@@@1@17@@oe@2-2-2013
21703006@unknown@formal@none@1@S@State officials couldn't be reached for comment late yesterday.@@@@1@9@@oe@2-2-2013
21703007@unknown@formal@none@1@S@FileNet noted that it had cash and marketable securities totaling $22.5 million on Sept. 30, and stockholders' equity is $60.1 million.@@@@1@21@@oe@2-2-2013
21703008@unknown@formal@none@1@S@The company made the announcement after the close of the markets, where its stock finished at $10.75, up 25 cents, in over-the-counter trading.@@@@1@23@@oe@2-2-2013
21704001@unknown@formal@none@1@S@Clinton Gas Systems Inc. said it received a contract from Timken Co., Canton, Ohio, to manage the natural gas purchasing, scheduling and transportation activities for Timken's seven Ohio and two Pennsylvania plants.@@@@1@32@@oe@2-2-2013
21704002@unknown@formal@none@1@S@Clinton and Timken agreed not to disclose the value of the contract.@@@@1@12@@oe@2-2-2013
21704003@unknown@formal@none@1@S@Timken, a producer of bearings and specialty steel, already buys gas from Clinton.@@@@1@13@@oe@2-2-2013
21704004@unknown@formal@none@1@S@Clinton said in Columbus, Ohio, that its Clinton Gas Marketing unit wants to line up a number of such gas management contracts.@@@@1@22@@oe@2-2-2013
21704005@unknown@formal@none@1@S@Manufacturers frequently don't have anyone who is a specialist in natural gas, Clinton said, and a specialist such as Clinton can save them substantial amounts of money.@@@@1@27@@oe@2-2-2013
21705001@unknown@formal@none@1@S@The scene opens with pinstripe-suited executives -- Easterners, obviously -- glued to cellular phones and hightailing it out of town in chauffeur-driven limousines.@@@@1@23@@oe@2-2-2013
21705002@unknown@formal@none@1@S@"The carpetbaggers," snorts the narrator with a Texas twang, "have packed their bags and went."@@@@1@15@@oe@2-2-2013
21705003@unknown@formal@none@1@S@But, he continues, "They're forgetting we're all Texans.@@@@1@8@@oe@2-2-2013
21705004@unknown@formal@none@1@S@The Lone Star is on the rise again."@@@@1@8@@oe@2-2-2013
21705005@unknown@formal@none@1@S@As the music swells, viewers discover they're watching a commercial for Lone Star Beer, the pride of Texas, a product of G. Heileman Brewing Co., a La Crosse, Wis., unit of Bond Corp.@@@@1@33@@oe@2-2-2013
21705006@unknown@formal@none@1@S@As the ad's tone implies, the Texas spirit is pretty xenophobic these days, and Lone Star isn't alone in trying to take advantage of that.@@@@1@25@@oe@2-2-2013
21705007@unknown@formal@none@1@S@From Chevy trucks to Lipton iced tea to a host of battling banks, the state has been inundated with broadcast commercials and print advertising campaigns celebrating Texans and castigating outsiders.@@@@1@30@@oe@2-2-2013
21705008@unknown@formal@none@1@S@While advertisers have long appealed to Texans' state pride and prejudices, the latest trend has been sparked, in part, by the state's recent hard economic times.@@@@1@26@@oe@2-2-2013
21705009@unknown@formal@none@1@S@That has taken some of the swagger out of natives who like to brag that Texas is the only state that was once a nation, but it has increased their legendary resentment of outsiders.@@@@1@34@@oe@2-2-2013
21705010@unknown@formal@none@1@S@In the past, writes Houston Chronicle columnist Jim Barlow, outlanders were accepted only after passing a series of tests to prove they had the "right" Texas attitudes and "of course they had to be dipped for parasites."@@@@1@37@@oe@2-2-2013
21705011@unknown@formal@none@1@S@There is no small irony in the fact that some of the most-jingoistic advertising comes courtesy of -- you guessed it -- outsiders.@@@@1@23@@oe@2-2-2013
21705012@unknown@formal@none@1@S@Lone Star's Bond Corp. parent, for instance, hails from Perth, Australia.@@@@1@11@@oe@2-2-2013
21705013@unknown@formal@none@1@S@North Carolinians, New Yorkers, Californians, Chicagoans and Ohioans own Texas banks.@@@@1@11@@oe@2-2-2013
21705014@unknown@formal@none@1@S@All kinds of landmark Texas real estate has been snapped up by out-of-staters.@@@@1@13@@oe@2-2-2013
21705015@unknown@formal@none@1@S@Even the beloved Dallas Cowboys were bought by an Arkansas oil man.@@@@1@12@@oe@2-2-2013
21705016@unknown@formal@none@1@S@"Texas has lost its distinctiveness, leaving Texans with a hunger to feel proud about themselves," says Stephen Klineberg, a sociology professor at Rice University, Houston.@@@@1@25@@oe@2-2-2013
21705017@unknown@formal@none@1@S@"This plays right into the hands of the advertising agencies."@@@@1@10@@oe@2-2-2013
21705018@unknown@formal@none@1@S@For example, the iced-tea radio campaign for Thomas J. Lipton Co., an Englewood Cliffs, N.J., unit of Anglo-Dutch Unilever Group, emphatically proclaims: "Real Texans do not wear dock-siders -- ever.@@@@1@30@@oe@2-2-2013
21705019@unknown@formal@none@1@S@Real Texans don't play paddleball, at least I hope not.@@@@1@10@@oe@2-2-2013
21705020@unknown@formal@none@1@S@This is football country.@@@@1@4@@oe@2-2-2013
21705021@unknown@formal@none@1@S@And another thing -- real Texans drink Lipton iced tea."@@@@1@10@@oe@2-2-2013
21705022@unknown@formal@none@1@S@In developing that theme at Interpublic Group of Cos.' Lintas: New York unit, account supervisor Lisa Buksbaum says she made a "couple of phone calls" to Dallas ad friends and reported her "findings" to a team of writers.@@@@1@38@@oe@2-2-2013
21705023@unknown@formal@none@1@S@Her findings?@@@@1@2@@oe@2-2-2013
21705024@unknown@formal@none@1@S@"You know," she says, "stereotypical stuff like armadillos, cowboys and football."@@@@1@11@@oe@2-2-2013
21705025@unknown@formal@none@1@S@Not exactly sophisticated market research, but who cares as long as the campaigns work.@@@@1@14@@oe@2-2-2013
21705026@unknown@formal@none@1@S@And ad agencies insist that they do.@@@@1@7@@oe@2-2-2013
21705027@unknown@formal@none@1@S@Stan Richards of Richards Group Inc., Dallas, tells of the Texan who saw the agency's tear-jerking commercial for First Gibraltar Bank F.S.B. -- complete with the state's anthem -- and promptly invested $100,000 in the thrift's CDs.@@@@1@37@@oe@2-2-2013
21705028@unknown@formal@none@1@S@Never mind that First Gibraltar is one of the failed Texas thrifts taken over by outsiders -- in this case, an investor group headed by New York financier Ronald Perelman.@@@@1@30@@oe@2-2-2013
21705029@unknown@formal@none@1@S@The North Texas Chevy Dealers recently had a record sales month after the debut of ad campaign that thumbs its nose at elite Easterners.@@@@1@24@@oe@2-2-2013
21705030@unknown@formal@none@1@S@And deposits at NCNB Texas National Bank, a unit of NCNB Corp., Charlotte, N.C., have increased $2 billion since last year after heavy advertising stressing commitment to Texas.@@@@1@28@@oe@2-2-2013
21705031@unknown@formal@none@1@S@"Obviously, pride sells in Texas," says a spokeswoman for Bozell Inc., Omaha, Neb., which represents@@@@1@15@@oe@2-2-2013
21705032@unknown@formal@none@1@S@The ad campaigns usually follow one of three tracks -- stressing the company's `Texasness,' pointing out the competition's lack thereof, or trying to be more Texan than Texans.@@@@1@28@@oe@2-2-2013
21705033@unknown@formal@none@1@S@Ford trucks may outsell Chevy trucks in places like "Connecticut and Long Island," sniffs a commercial for Chevrolet, a division of General Motors Corp.@@@@1@24@@oe@2-2-2013
21705034@unknown@formal@none@1@S@The commercial, created by Bateman, Bryan & Galles Inc., of Dallas, adds derisively: "I bet it takes a real tough truck to haul your Ivy League buddies to the yacht club."@@@@1@31@@oe@2-2-2013
21705035@unknown@formal@none@1@S@Because they want a truck that is "Texas tough," the commercial concludes, "Texans drive Chevy."@@@@1@15@@oe@2-2-2013
21705036@unknown@formal@none@1@S@J.C. Penney Co., which relocated from New York to suburban Dallas two years ago, gently wraps itself in Texas pride through a full-page magazine ad: "Taking the long-range view to conserve what is of value to future generations is part of the Lone Star lifestyle," the ad reads.@@@@1@48@@oe@2-2-2013
21705037@unknown@formal@none@1@S@"It's part of our style, too."@@@@1@6@@oe@2-2-2013
21705038@unknown@formal@none@1@S@According to several ad-agency sources, newcomers to the Texas banking market are spending a combined $50 million this year to woo Texans.@@@@1@22@@oe@2-2-2013
21705039@unknown@formal@none@1@S@Meanwhile, surviving Texas banking institutions are busily pitching themselves as the only lenders who truly care about the state.@@@@1@19@@oe@2-2-2013
21705040@unknown@formal@none@1@S@The most-strident anti-outsider sentiment among bankers comes from the Independent Bankers Association of Texas, although it's hard to tell from previews of the $5 million "The I's of Texas" TV campaign.@@@@1@31@@oe@2-2-2013
21705041@unknown@formal@none@1@S@Commercials will highlight heart-rending scenes of Texas and chest-swelling, ain't-it-great-to-be-a-Texan music.@@@@1@11@@oe@2-2-2013
21705042@unknown@formal@none@1@S@Supporting banks will sign a "Texas Declaration of Independents."@@@@1@9@@oe@2-2-2013
21705043@unknown@formal@none@1@S@But in introductory material for the campaign, the trade group urges members to "arm" for a "revolution" against big, out-of-state bank-holding companies.@@@@1@22@@oe@2-2-2013
21705044@unknown@formal@none@1@S@A video sent to association members, featuring shots of the Alamo, cowboys, fajitas and a statue of Sam Houston, doesn't mince words.@@@@1@22@@oe@2-2-2013
21705045@unknown@formal@none@1@S@"Texans can sniff a phony a mile away," the narrator warns outsiders.@@@@1@12@@oe@2-2-2013
21705046@unknown@formal@none@1@S@"So, don't come and try to con us with a howdy y'all or a cowboy hat."@@@@1@16@@oe@2-2-2013
21705047@unknown@formal@none@1@S@Young & Rubicam's Pact@@@@1@4@@oe@2-2-2013
21705048@unknown@formal@none@1@S@Young & Rubicam, fighting charges that it bribed Jamaican officials to win the Jamaica Tourist Board ad account in 1981, said it will no longer create the tourist board's advertising.@@@@1@30@@oe@2-2-2013
21705049@unknown@formal@none@1@S@In a statement, Alex Kroll, Young & Rubicam's chairman, said "under the present circumstances {we} have agreed that it is prudent to discontinue that contract."@@@@1@25@@oe@2-2-2013
21705050@unknown@formal@none@1@S@Young & Rubicam has pleaded innocent to the charges.@@@@1@9@@oe@2-2-2013
21705051@unknown@formal@none@1@S@The board wouldn't comment on its impending search for a new ad agency to handle its estimated $5 million to $6 million account.@@@@1@23@@oe@2-2-2013
21705052@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
21705053@unknown@formal@none@1@S@NEW ACCOUNT:@@@@1@2@@oe@2-2-2013
21705054@unknown@formal@none@1@S@Sunshine Biscuits Inc., Woodbridge, N.J., awarded its estimated $5 million account to Waring & LaRosa, New York.@@@@1@17@@oe@2-2-2013
21705055@unknown@formal@none@1@S@The account had been at Della Femina McNamee WCRS, New York.@@@@1@11@@oe@2-2-2013
21705056@unknown@formal@none@1@S@MEDIA POLICY:@@@@1@2@@oe@2-2-2013
21705057@unknown@formal@none@1@S@MacNamara Clapp & Klein, a small New York shop, is asking magazine ad representatives to tell it when major advertising inserts will run in their publications.@@@@1@26@@oe@2-2-2013
21705058@unknown@formal@none@1@S@It says it may pull its clients' ads from those magazines.@@@@1@11@@oe@2-2-2013
21705059@unknown@formal@none@1@S@COKE ADS:@@@@1@2@@oe@2-2-2013
21705060@unknown@formal@none@1@S@Coca-Cola Co. said it produced a new version of its 1971 "I'd like to teach the world to sing" commercial.@@@@1@20@@oe@2-2-2013
21705061@unknown@formal@none@1@S@The ad is part of Classic Coke's 1990 ad campaign, with the tag line, "Can't beat the Real Thing."@@@@1@19@@oe@2-2-2013
21705062@unknown@formal@none@1@S@Basketball star Michael Jordan and singer Randy Travis have also agreed to appear in ads.@@@@1@15@@oe@2-2-2013
21706001@unknown@formal@none@1@S@Dell Computer Corp., squeezed by price pressure from its larger competitors and delays in its new product line, said its per-share earnings for fiscal 1990 will be half its previous forecasts.@@@@1@31@@oe@2-2-2013
21706002@unknown@formal@none@1@S@Although the personal computer maker said it expects revenue to meet or exceed previous projections of $385 million for the year ending Jan. 28, 1990, earnings are expected to be 25 cents to 35 cents a share, down from previous estimates of 50 cents to 60 cents.@@@@1@47@@oe@2-2-2013
21706003@unknown@formal@none@1@S@Earnings for fiscal 1989 were $14.4 million, or 80 cents a share, on sales of $257.8 million.@@@@1@17@@oe@2-2-2013
21706004@unknown@formal@none@1@S@Results for the third quarter ending Oct. 31, are expected to be released the third week of November, according to Michael Dell, chairman and chief executive officer.@@@@1@27@@oe@2-2-2013
21706005@unknown@formal@none@1@S@Mr. Dell said he doesn't expect a loss in either the third or fourth quarter, but said third-quarter earnings could be as low as four cents a share.@@@@1@28@@oe@2-2-2013
21706006@unknown@formal@none@1@S@In the third quarter last year, Dell had net income of $5 million, or 26 cents a share, on sales of $75.2 million.@@@@1@23@@oe@2-2-2013
21706007@unknown@formal@none@1@S@Mr. Dell attributed the earnings slide to new product delays, such as a laptop scheduled for September that won't be introduced until early November.@@@@1@24@@oe@2-2-2013
21706008@unknown@formal@none@1@S@Some delays have been caused by a shortage of micoprocessors -- notably Intel Corp.'s newest chip, the 486 -- but others apparently have been caused by Dell's explosive growth and thinly stretched resources.@@@@1@33@@oe@2-2-2013
21706009@unknown@formal@none@1@S@"They've got a lot of different balls in the air at the same time," observes Jim Poyner, a computer securities analyst with Dallas-based William K. Woodruff & Co.@@@@1@28@@oe@2-2-2013
21706010@unknown@formal@none@1@S@Mr. Dell, meanwhile, concedes the company was "definitely too optimistic" in its expectations.@@@@1@13@@oe@2-2-2013
21706011@unknown@formal@none@1@S@Product delays, however, have left Dell buffeted by harsher competition in its bread-and-butter line of desktop computers, as powerhouse competitors Compaq Computer Corp. and International Business Machines Corp. price their PCs more aggressively.@@@@1@33@@oe@2-2-2013
21706012@unknown@formal@none@1@S@The result has been thinner margins, which have been further eroded by an ambitious research and development effort and rapid overseas expansion.@@@@1@22@@oe@2-2-2013
21706013@unknown@formal@none@1@S@Analyst James Weil of the Soundview Financial Group believes Dell's response has been to place increased emphasis on product quality, "in an effort to rise above some of that price pressure."@@@@1@31@@oe@2-2-2013
21706014@unknown@formal@none@1@S@But that has been the key to Compaq's success, he adds, whereas Dell carved out its market niche as a direct seller of low-cost but reliable computers -- and it might be too late in the game for a shift in strategy.@@@@1@42@@oe@2-2-2013
21706015@unknown@formal@none@1@S@In national over-the-counter trading, Dell closed yesterday at $6 a share, down 87.5 cents.@@@@1@14@@oe@2-2-2013
21707001@unknown@formal@none@1@S@TransAtlantic Holdings PLC, a British-based, South African-controlled financial services investment group, and France's Societe Centrale Union des Assurances de Paris reached an accord effectively reducing chances of an unfriendly takeover for Sun Life Assurance Society PLC.@@@@1@36@@oe@2-2-2013
21707002@unknown@formal@none@1@S@In a joint statement, the two companies, whose combined holdings equal 52.7% of Sun Life's ordinary shares, said their agreement is aimed at reducing "the uncertainty and instability for Sun Life that has resulted from two major shareholders owning" a controlling interest in the company.@@@@1@45@@oe@2-2-2013
21707003@unknown@formal@none@1@S@TransAtlantic, whose Transol Investments Ltd. unit owns the largest minority stake in Sun Life, has agreed not to make a takeover bid for the British life insurer without the prior consent of the French company, known as UAP.@@@@1@38@@oe@2-2-2013
21707004@unknown@formal@none@1@S@In return, the agreement would force UAP to buy TransAtlantic's 29.8% holding in Sun Life or sell its 22.9% stake to TransAtlantic at a price set by Transatlantic.@@@@1@28@@oe@2-2-2013
21708001@unknown@formal@none@1@S@Pride Petroleum Services Inc. said it agreed to buy well-servicing assets of two companies and expects to report higher third-quarter revenue and earnings.@@@@1@23@@oe@2-2-2013
21708002@unknown@formal@none@1@S@In the year-earlier quarter, the well-servicing contractor had net income of $319,000, or 3 cents a share, on revenue of about $15 million.@@@@1@23@@oe@2-2-2013
21708003@unknown@formal@none@1@S@Results for the earlier quarter included a $100,000 restructuring charge.@@@@1@10@@oe@2-2-2013
21708004@unknown@formal@none@1@S@Separately, the Houston concern said it signed letters of intent for the cash and stock purchases of a total of 29 well-servicing rigs from two concerns located in New Mexico and California.@@@@1@32@@oe@2-2-2013
21708005@unknown@formal@none@1@S@It didn't disclose specifics but said it expects to complete the purchases by Nov. 1.@@@@1@15@@oe@2-2-2013
21709001@unknown@formal@none@1@S@Schlumberger Ltd., New York, reported third-quarter net income edged up as growth in its oil-field services sector offset a decline in interest income.@@@@1@23@@oe@2-2-2013
21709002@unknown@formal@none@1@S@The lower interest income occurred because Schlumberger spent $1.2 billion buying back its stock last year.@@@@1@16@@oe@2-2-2013
21709003@unknown@formal@none@1@S@Net for the oil-field services and electronic measurements and systems concern rose to $114.2 million, or 48 cents a share, from $112.2 million, or 42 cents a share, a year earlier.@@@@1@31@@oe@2-2-2013
21709004@unknown@formal@none@1@S@Per-share earnings advanced 14% because of the buy-back.@@@@1@8@@oe@2-2-2013
21709005@unknown@formal@none@1@S@Revenue declined 6.3% to $1.11 billion from $1.18 billion.@@@@1@9@@oe@2-2-2013
21709006@unknown@formal@none@1@S@But excluding businesses acquired or sold, revenue was flat at about $1.24 billion.@@@@1@13@@oe@2-2-2013
21709007@unknown@formal@none@1@S@Nine-month net fell 9.5% to $323.4 million, or $1.36 a share, from $357.2 million, or $1.32 a share, a year earlier.@@@@1@21@@oe@2-2-2013
21709008@unknown@formal@none@1@S@Revenue dropped 5.4% to $3.48 billion from $3.68 billion.@@@@1@9@@oe@2-2-2013
21709009@unknown@formal@none@1@S@This year's nine-month results include gains of $13 million, or five cents a share, from the sale of Schlumberger's defense systems business, and $22 million, or nine cents a share, from an award by the IranU.S. Claims Tribunal.@@@@1@38@@oe@2-2-2013
21709010@unknown@formal@none@1@S@The year-earlier nine months include a gain of $35 million, or 13 cents a share, from sale of the company's Electricity Control & Transformers division.@@@@1@25@@oe@2-2-2013
21710001@unknown@formal@none@1@S@NEW ENGLAND CRITICAL CARE Inc. offered $35 million in convertible subordinated debentures through Morgan Stanley & Co. and Prudential-Bache Capital Funding.@@@@1@21@@oe@2-2-2013
21710002@unknown@formal@none@1@S@The debentures, due in 2014, have a coupon of 7 3/4%, payable semiannually.@@@@1@13@@oe@2-2-2013
21710003@unknown@formal@none@1@S@The debentures may be converted into common stock of the Westborough, Mass., home health care concern at $52.50 a share.@@@@1@20@@oe@2-2-2013
21710004@unknown@formal@none@1@S@Proceeds will be used for working capital and general corporate purposes, including expansion of the company's operations.@@@@1@17@@oe@2-2-2013
21711001@unknown@formal@none@1@S@The French building group Dumez S.A. said profit jumped 70% in the first half of 1989, partly on the strength of nonrecurring gains from a share issue by its Canadian unit.@@@@1@31@@oe@2-2-2013
21711002@unknown@formal@none@1@S@Dumez said group profit after payments to minority interests rose to 252 million francs ($40.1 million) from 148 million a year earlier.@@@@1@22@@oe@2-2-2013
21711003@unknown@formal@none@1@S@Revenue rose 40% to 13.32 billion francs from 9.53 billion.@@@@1@10@@oe@2-2-2013
21711004@unknown@formal@none@1@S@The group noted that 75 million francs of the advance reflected a one-time gain from the June offering by its United Westburne unit in Canada.@@@@1@25@@oe@2-2-2013
21711005@unknown@formal@none@1@S@It didn't say if its year-earlier results were influenced significantly by nonrecurring elements.@@@@1@13@@oe@2-2-2013
21711006@unknown@formal@none@1@S@For all of 1988, Dumez had group profit of 452 million francs after payment to minority interests.@@@@1@17@@oe@2-2-2013
21711007@unknown@formal@none@1@S@Revenue was 21.98 billion francs.@@@@1@5@@oe@2-2-2013
21711008@unknown@formal@none@1@S@The group hasn't forecast full-year earnings for 1989, although it said that its first-half results aren't a good indication because of one-time elements and the seasonal nature of its operations.@@@@1@30@@oe@2-2-2013
21712001@unknown@formal@none@1@S@Tuesday's earthquake will depress local real-estate values in the short term and force companies to reconsider expanding in or relocating to the Bay Area and California, real-estate and relocation specialists said.@@@@1@31@@oe@2-2-2013
21712002@unknown@formal@none@1@S@Few specialists said they expect the quake to have much of an effect on most California property values.@@@@1@18@@oe@2-2-2013
21712003@unknown@formal@none@1@S@But real-estate experts and brokers said the quake undoubtedly will drag down prices in neighborhoods built on less stable ground, especially in the Bay Area.@@@@1@25@@oe@2-2-2013
21712004@unknown@formal@none@1@S@"California prices were already coming down.@@@@1@6@@oe@2-2-2013
21712005@unknown@formal@none@1@S@This isn't going to help," said Kenneth T. Rosen, chairman of the Center for Real Estate and Urban Economics at the University of California at Berkeley.@@@@1@26@@oe@2-2-2013
21712006@unknown@formal@none@1@S@State housing prices, at a median $201,028, have declined in recent months because of potential buyers' inability to afford homes.@@@@1@20@@oe@2-2-2013
21712007@unknown@formal@none@1@S@Mr. Rosen, among others, suggested that the quake, the strongest since the 1906 temblor that struck San Francisco, will in the short term create a two-tier price system for quake-prone communities, with dwellings built on sturdy ground likely to demand higher prices.@@@@1@42@@oe@2-2-2013
21712008@unknown@formal@none@1@S@One San Francisco neighborhood likely to test Mr. Rosen's theory soon is the city's fashionable Marina district, which boasts some of the highest home prices in the state.@@@@1@28@@oe@2-2-2013
21712009@unknown@formal@none@1@S@The district, built on landfill, suffered heavy quake damage, including collapsed buildings.@@@@1@12@@oe@2-2-2013
21712010@unknown@formal@none@1@S@Yesterday, the city demolished two dwellings in the district because of severe structural damage and said as many as 19 of the district's 350 dwellings might have to be razed.@@@@1@30@@oe@2-2-2013
21712011@unknown@formal@none@1@S@Brokers agreed with the two-tier price theory.@@@@1@7@@oe@2-2-2013
21712012@unknown@formal@none@1@S@"My gut feeling is that the Marina properties will be affected," said Grace Perkins, senior vice president at Grubb & Ellis Residential Brokerage Inc.@@@@1@24@@oe@2-2-2013
21712013@unknown@formal@none@1@S@Neither she nor other real-estate executives and brokers could project how much less Marina properties might bring, but she said the two-tier price structure would affect prices "for a while."@@@@1@30@@oe@2-2-2013
21712014@unknown@formal@none@1@S@Mr. Rosen said the quake will revive consumer interest in a little-publicized 1972 state law that requires brokers to disclose to potential buyers how close a property sits to a fault line.@@@@1@32@@oe@2-2-2013
21712015@unknown@formal@none@1@S@Because of the size of the California market, few relocation specialists expect a widespread corporate flight in the quake's aftermath.@@@@1@20@@oe@2-2-2013
21712016@unknown@formal@none@1@S@But they said the quake will force some companies to relocate or expand part or all of their operations outside the state.@@@@1@22@@oe@2-2-2013
21712017@unknown@formal@none@1@S@"What you're going to get is 'We don't want to put all of our eggs in one basket' theory," said James H. Renzas, president of Location Management Services Inc., a Palo Alto, Calif., relocation concern.@@@@1@35@@oe@2-2-2013
21712018@unknown@formal@none@1@S@Mr. Renzas, among others, said the quake will prod companies in certain industries, like semiconductors, computers and aerospace, to consider moving operations that involve particularly sensitive machinery to locations outside California.@@@@1@31@@oe@2-2-2013
21712019@unknown@formal@none@1@S@Because of the quake threat, "some firms have evaluated what the cost is to shore up their buildings and compared it with the cost of building it elswehere," he said.@@@@1@30@@oe@2-2-2013
21712020@unknown@formal@none@1@S@One Southern California aerospace firm, for example, two months ago asked Location Management to compare the costs of reinforcing its current building against earthquakes with the cost of building a new structure elsewhere.@@@@1@33@@oe@2-2-2013
21712021@unknown@formal@none@1@S@A new dwelling would cost $21 million, Location Management found, compared with $22 million to make the present building earthquake-proof.@@@@1@20@@oe@2-2-2013
21712022@unknown@formal@none@1@S@The company, Mr. Renzas said, hasn't yet determined what to do.@@@@1@11@@oe@2-2-2013
21713001@unknown@formal@none@1@S@NATIONWIDE HEALTH PROPERTIES, Pasadena, Calif., said it wouldn't pay its fourth-quarter dividend, despite a 44% increase in third-quarter earnings, to $3.5 million, or 42 cents a share.@@@@1@27@@oe@2-2-2013
21713002@unknown@formal@none@1@S@Net income included a gain of $708,000 on asset sales, the real estate investment trust said.@@@@1@16@@oe@2-2-2013
21713003@unknown@formal@none@1@S@A year earlier, Nationwide Health earned $2.4 million, or 29 cents a share.@@@@1@13@@oe@2-2-2013
21713004@unknown@formal@none@1@S@Revenue rose 3% to $9 million from $8.8 million.@@@@1@9@@oe@2-2-2013
21713005@unknown@formal@none@1@S@Nationwide Health said that although it has the cash to cover the 25-cent-a-share dividend, its banks have denied the company's request to pay it because the trust hasn't met certain terms.@@@@1@31@@oe@2-2-2013
21713006@unknown@formal@none@1@S@Nationwide Health said it has "numerous financing activities" under way to remedy the problem and will make up the dividend payment later if possible.@@@@1@24@@oe@2-2-2013
21714001@unknown@formal@none@1@S@Aussedat Rey S.A., a French paper producer, said it concluded an agreement with Japan's Fuji Photo Film Co. that will allow Aussedat Rey to manufacture and sell thermal paper using Fuji technology.@@@@1@32@@oe@2-2-2013
21714002@unknown@formal@none@1@S@Aussedat Rey is a leading French maker of copying and electronic printing paper.@@@@1@13@@oe@2-2-2013
21714003@unknown@formal@none@1@S@Thermal paper is used in facsimile machines.@@@@1@7@@oe@2-2-2013
21714004@unknown@formal@none@1@S@Terms of the agreement weren't disclosed.@@@@1@6@@oe@2-2-2013
21714005@unknown@formal@none@1@S@Aussedat Rey's move follows similar technology-licensing agreements between Japanese producers of thermal paper and European paper groups.@@@@1@17@@oe@2-2-2013
21715001@unknown@formal@none@1@S@W.R. Grace & Co., New York, said its earnings for the third quarter nearly doubled as a result of a $114.4 million pre-tax gain from restructuring its energy operations and other adjustments.@@@@1@32@@oe@2-2-2013
21715002@unknown@formal@none@1@S@Net income rose to $97.9 million, or $1.15 a share, from $50.5 million, or 60 cents a share, a year earlier.@@@@1@21@@oe@2-2-2013
21715003@unknown@formal@none@1@S@Sales increased 7% to $1.49 billion from $1.39 billion.@@@@1@9@@oe@2-2-2013
21715004@unknown@formal@none@1@S@The gain resulted from the sale of Grace Equipment Co., the initial public offering of a one-sixth interest in Grace Energy Corp. and an adjustment in the carrying value of certain natural resource assets not part of Grace Energy.@@@@1@39@@oe@2-2-2013
21715005@unknown@formal@none@1@S@The international specialty chemical company's earnings were hurt by an accrual for stock-appreciation rights that reflected a 19% increase in the stock price, and higher interest expenses.@@@@1@27@@oe@2-2-2013
21716001@unknown@formal@none@1@S@Anglo American Corp. of South Africa Ltd. said the third-quarter combined profit of its six gold mines dropped 8.5% from the previous quarter.@@@@1@23@@oe@2-2-2013
21716002@unknown@formal@none@1@S@Total net income fell to 471.6 million rand ($178.0 million) from 515.4 million rand in the June quarter.@@@@1@18@@oe@2-2-2013
21716003@unknown@formal@none@1@S@Total gold production by all six mines rose 4% to 63,971 kilograms from 61,493 kilograms in the previous quarter.@@@@1@19@@oe@2-2-2013
21717001@unknown@formal@none@1@S@Doman Industries Ltd. said it increased its stake in Western Forest Products Ltd. to 56% from 22%, through a two-step transaction valued at 137 million Canadian dollars ($US116.7 million).@@@@1@29@@oe@2-2-2013
21717002@unknown@formal@none@1@S@Doman is based in Duncan, British Columbia.@@@@1@7@@oe@2-2-2013
21717003@unknown@formal@none@1@S@The company, founded and controlled by Harbanse Doman, its chairman and president, said the purchase would make it Canada's 10th largest forest products company.@@@@1@24@@oe@2-2-2013
21717004@unknown@formal@none@1@S@Under terms of the transaction, which was proposed in June, Doman said it acquired International Forest Products Ltd.'s 22% stake in Western Forest, and Western Forest, in a related transaction, bought back a 22% interest in the company from Fletcher Challenge Canada Ltd.@@@@1@43@@oe@2-2-2013
21717005@unknown@formal@none@1@S@The Fletcher Challenge Canada stake was then canceled, Doman said, raising Doman's interest in Western Forest to 56%.@@@@1@18@@oe@2-2-2013
21717006@unknown@formal@none@1@S@Doman said it was also granted an option to acquire the remaining 44% interest in Western Forest, which is currently held by two Canadian banks.@@@@1@25@@oe@2-2-2013
21717007@unknown@formal@none@1@S@International Forest, Western Forest, and Fletcher Challenge Canada are Vancouver-based forest products concerns.@@@@1@13@@oe@2-2-2013
21718001@unknown@formal@none@1@S@The Canadian government introduced in the House of Commons legislation to extend federal regulatory authority over provincial government-owned telephone utilities in Alberta, Saskatchewan and Manitoba.@@@@1@25@@oe@2-2-2013
21718002@unknown@formal@none@1@S@The legislation would open the way for more telephone services and more competition in the telephone business in the three provinces, federal officials said.@@@@1@24@@oe@2-2-2013
21718003@unknown@formal@none@1@S@The federal government initiative follows a recent Canadian Supreme Court decision that held that the major telephone companies in Alberta, Saskatchewan and Manitoba and in the Atlantic coast provinces were interprovincial undertakings and subject to federal legislative authority.@@@@1@38@@oe@2-2-2013
21718004@unknown@formal@none@1@S@Prior to the ruling the federal government had regulated only the telephone companies in Quebec, Ontario, British Columbia and the Northwest Territories.@@@@1@22@@oe@2-2-2013
21718005@unknown@formal@none@1@S@The governments of Alberta, Saskatchewan and Manitoba have strongly opposed federal regulation of their telephone companies.@@@@1@16@@oe@2-2-2013
21718006@unknown@formal@none@1@S@The extension of federal regulatory authority over telephone utilities in the Atlantic provinces hasn't required special legislation because they are investor-owned.@@@@1@21@@oe@2-2-2013
21719001@unknown@formal@none@1@S@Amdura Corp. said its bank group, led by Chicago-based Continental Bank, agreed to extend its $40 million bridge loan until March 31, 1990, and gave it a new $30 million credit line.@@@@1@32@@oe@2-2-2013
21719002@unknown@formal@none@1@S@Under terms of the loan agreement, Amdura said it will omit the next quarterly dividends on its Series A, B, C and D preferred shares, which are due Nov. 15.@@@@1@30@@oe@2-2-2013
21719003@unknown@formal@none@1@S@Since the preferred stock is cumulative, Amdura said it will pay all omitted dividends, which range from $1.19 to $4.88 a share, when debt-reduction requirements have been met.@@@@1@28@@oe@2-2-2013
21719004@unknown@formal@none@1@S@Amdura's bridge loan, part of the financing for Amdura's acquisition of CoastAmerica in December 1988, was to come due next Friday.@@@@1@21@@oe@2-2-2013
21719005@unknown@formal@none@1@S@The company's new management, which took control of Amdura's board after a consent solicitation last month, wanted to extend the loan while it tries to sell two units.@@@@1@28@@oe@2-2-2013
21719006@unknown@formal@none@1@S@Proceeds from those sales will be used to reduce debt.@@@@1@10@@oe@2-2-2013
21719007@unknown@formal@none@1@S@Amdura, a Denver hardware and automotive distributor, said the new credit agreement will provide the working capital needed to meet ongoing requirements.@@@@1@22@@oe@2-2-2013
21720001@unknown@formal@none@1@S@Three savings-and-loan institutions in Kansas and Texas were added to the Resolution Trust Corp.'s conservatorship program after federal regulators declared the thrifts insolvent and named the RTC their receiver.@@@@1@29@@oe@2-2-2013
21720002@unknown@formal@none@1@S@The deposits, assets and certain liabilities of the three thrifts were transferred to newly chartered federal mutual institutions.@@@@1@18@@oe@2-2-2013
21720003@unknown@formal@none@1@S@The three institutions are: Mid Kansas Federal Savings & Loan Association, Wichita, which had $830.5 million in assets; Valley Federal Savings & Loan Association of McAllen, McAllen, Texas, with $582.6 million in assets; and Surety Savings Association, El Paso, with $309.3 million in assets.@@@@1@44@@oe@2-2-2013
21720004@unknown@formal@none@1@S@The three insolvent thrifts will maintain normal business hours and operations under RTC-appointed managing agents, while the RTC tries to negotiate permanent resolutions.@@@@1@23@@oe@2-2-2013
21720005@unknown@formal@none@1@S@Separately, Century Bank, Phoenix, Ariz., was closed by Arizona banking officials.@@@@1@11@@oe@2-2-2013
21720006@unknown@formal@none@1@S@The Federal Deposit Insurance Corp. approved the assumption of Century's deposits and fully secured liabilities by a newly chartered subsidiary of Valley Capital Corp., Las Vegas.@@@@1@26@@oe@2-2-2013
21720007@unknown@formal@none@1@S@The new institution is also called Century Bank, and the failed bank's five offices will reopen today.@@@@1@17@@oe@2-2-2013
21720008@unknown@formal@none@1@S@The failed bank had assets of about $129.6 million.@@@@1@9@@oe@2-2-2013
21720009@unknown@formal@none@1@S@The newly chartered bank will assume about $125.7 million in 10,300 deposit accounts and pay the FDIC a purchase premium of $2.9 million.@@@@1@23@@oe@2-2-2013
21720010@unknown@formal@none@1@S@It also will buy about $91.7 million of assets, and the FDIC will advance $31.8 million to the assuming bank.@@@@1@20@@oe@2-2-2013
21721001@unknown@formal@none@1@S@Lonrho PLC of Britain is to come to the rescue of the French distribution group Societe Commerciale de l'Ouest Africaine in an operation that has been engineered with the Paribas financial group, Societe Commerciale's main shareholder.@@@@1@36@@oe@2-2-2013
21721002@unknown@formal@none@1@S@The announcement came as Societe Commerciale, a trading company with activities in more than 40 countries, reported a loss of 320.5 million francs ($51 million) for the first six months of this year, partly because of provisions on future losses.@@@@1@40@@oe@2-2-2013
21721003@unknown@formal@none@1@S@The rescue operation will consist of a capital boost for Societe Commerciale of one billion francs through issues of new shares and convertible bonds.@@@@1@24@@oe@2-2-2013
21721004@unknown@formal@none@1@S@Cie. Financiere de Paribas said it intends to transfer its 30% shareholding in Societe Commerciale to a new company which will be jointly owned with Lonrho.@@@@1@26@@oe@2-2-2013
21721005@unknown@formal@none@1@S@This will give Paribas and Lonrho joint control of Societe Commerciale.@@@@1@11@@oe@2-2-2013
21721006@unknown@formal@none@1@S@Paribas said Lonrho will participate in the forthcoming capital boost for Societe Commerciale.@@@@1@13@@oe@2-2-2013
21722001@unknown@formal@none@1@S@International Business Machines Corp. and MCA Inc. said they agreed to sell their Discovision Associates joint venture to U.S. units of Pioneer Electronic Corp. for $200 million.@@@@1@27@@oe@2-2-2013
21722002@unknown@formal@none@1@S@The joint venture licenses a portfolio of about 1,400 patents and patent applications relating to optical-disk recording technology.@@@@1@18@@oe@2-2-2013
21722003@unknown@formal@none@1@S@IBM and MCA formed Discovision in 1979 to make laser-read optical products.@@@@1@12@@oe@2-2-2013
21722004@unknown@formal@none@1@S@But the partners didn't believe the market for the systems was developing as rapidly as they had hoped.@@@@1@18@@oe@2-2-2013
21722005@unknown@formal@none@1@S@After reportedly investing $100 million in the business, Discovision ceased manufacturing operations in 1982 and sold many of its assets to Tokyo-based Pioneer, among others.@@@@1@25@@oe@2-2-2013
21722006@unknown@formal@none@1@S@Discovision now has world-wide license agreements with major manufacturers covering CD audio disks, audio disk players, videodisks and videodisk players.@@@@1@20@@oe@2-2-2013
21722007@unknown@formal@none@1@S@It also licenses optically based data storage and retrieval devices.@@@@1@10@@oe@2-2-2013
21722008@unknown@formal@none@1@S@James N. Fiedler, president of Discovision and a vice president of MCA, said that IBM and MCA hadn't planned to sell the joint venture, which is now profitable, but that Pioneer approached Discovision earlier this year.@@@@1@36@@oe@2-2-2013
21722009@unknown@formal@none@1@S@He said it isn't certain whether Discovision's current management will remain when Pioneer buys the company.@@@@1@16@@oe@2-2-2013
21722010@unknown@formal@none@1@S@The agreement is contingent on certain government approvals and should be completed later this year.@@@@1@15@@oe@2-2-2013
21723001@unknown@formal@none@1@S@Tokyo stocks closed higher in moderately active but directionless trading as the recent anxiety in world stock markets continued to fade.@@@@1@21@@oe@2-2-2013
21723002@unknown@formal@none@1@S@London shares also closed firmer in thin trading driven largely by technical factors and support from a new Wall Street rally.@@@@1@21@@oe@2-2-2013
21723003@unknown@formal@none@1@S@Prices also rose on almost every other major exchange in Europe, Asia and the Pacific.@@@@1@15@@oe@2-2-2013
21723004@unknown@formal@none@1@S@Tokyo's Nikkei index of 225 issues, which gained 111.48 points Wednesday, climbed 266.66, or 0.76%, to 35374.22.@@@@1@17@@oe@2-2-2013
21723005@unknown@formal@none@1@S@Volume on the first section was estimated at 800 million shares, compared with 841 million Wednesday.@@@@1@16@@oe@2-2-2013
21723006@unknown@formal@none@1@S@Winners outnumbered losers 645-293, with 186 issues unchanged.@@@@1@8@@oe@2-2-2013
21723007@unknown@formal@none@1@S@In early trading in Tokyo Friday, the Nikkei index rose 170.65 points, to 35544.87.@@@@1@14@@oe@2-2-2013
21723008@unknown@formal@none@1@S@On Thursday, the Tokyo Stock Price Index of all issues listed in the first section, which gained 0.24 point Wednesday, was up 22.78, or 0.86%, at 2665.66.@@@@1@27@@oe@2-2-2013
21723009@unknown@formal@none@1@S@The morning session was dominated by individuals and dealers, but some institutions participated in the afternoon, encouraged by the market's firmness, traders said.@@@@1@23@@oe@2-2-2013
21723010@unknown@formal@none@1@S@Sentiment was helped by the small gain made by New York stocks Wednesday despite anxiety over possible effects of the major earthquake that struck northern California Tuesday.@@@@1@27@@oe@2-2-2013
21723011@unknown@formal@none@1@S@Having survived both last Friday's 6.9% Wall Street plunge and the immediate aftermath of the San Francisco Bay area earthquake, Tokyo market participants expressed relief that trading had returned to normal.@@@@1@31@@oe@2-2-2013
21723012@unknown@formal@none@1@S@Hiroyuki Murai, general manager of the stock trading division at Nikko Securities, said that after looking at the reasons for Friday's Wall Street plunge, participants realized that the Tokyo and New York markets have different economic fundamentals.@@@@1@37@@oe@2-2-2013
21723013@unknown@formal@none@1@S@This conclusion, he said, restored the credibility of Tokyo stocks.@@@@1@10@@oe@2-2-2013
21723014@unknown@formal@none@1@S@Yoshiaki Mitsuoka, head of the investment information department at Daiwa Investment Trust & Management, said that if New York stocks just fluctuate in or near their current range, the Tokyo market will remain firm with a moderately upward trend for the rest of the year.@@@@1@45@@oe@2-2-2013
21723015@unknown@formal@none@1@S@But traders said the market lacks a base on which to set long-term buying strategy, as the future direction of U.S. interest rates remains unclear.@@@@1@25@@oe@2-2-2013
21723016@unknown@formal@none@1@S@"Investor interest switches back and forth ceaselessly as they are unable to shift their weight to one side for sure," Mr. Mitsuoka of Daiwa Investment Trust said.@@@@1@27@@oe@2-2-2013
21723017@unknown@formal@none@1@S@Many of Wednesday's winners were losers yesterday as investors quickly took profits and rotated their buying to other issues, traders said.@@@@1@21@@oe@2-2-2013
21723018@unknown@formal@none@1@S@Pharmaceuticals made across-the-board advances.@@@@1@4@@oe@2-2-2013
21723019@unknown@formal@none@1@S@Fujisawa Pharmaceutical gained 130 to 1,930 yen ($13.64) a share, Mochida Pharmaceutical was up 150 at 4,170, and Eisai advanced 60 to 2,360.@@@@1@23@@oe@2-2-2013
21723020@unknown@formal@none@1@S@Housing issues were boosted by a report that Daiwa House expects to post 43% higher earnings for its latest fiscal year, traders said.@@@@1@23@@oe@2-2-2013
21723021@unknown@formal@none@1@S@Daiwa House advanced 100 to 2,610, Misawa Homes was up 60 at 2,940, and Sekisui House gained 100 to 2,490.@@@@1@20@@oe@2-2-2013
21723022@unknown@formal@none@1@S@Leading construction companies also attracted interest for their strong earnings outlooks, traders said.@@@@1@13@@oe@2-2-2013
21723023@unknown@formal@none@1@S@They and many other major Japanese corporations will issue results soon for the fiscal first half ended Sept. 30.@@@@1@19@@oe@2-2-2013
21723024@unknown@formal@none@1@S@Ohbayashi was up 60 to close at 1,680, Shimizu gained 50 to 2,120, and Kumagai-Gumi advanced 40 to 1,490.@@@@1@19@@oe@2-2-2013
21723025@unknown@formal@none@1@S@Other winners included real estate issues Mitsubishi Estate, which closed at 2,500, up 130, and Mitsui Real Estate Development, which gained 100 to 2,890.@@@@1@24@@oe@2-2-2013
21723026@unknown@formal@none@1@S@Steel shares fell back after advancing for three days.@@@@1@9@@oe@2-2-2013
21723027@unknown@formal@none@1@S@Kawasaki Steel was down 11 at 788, Kobe Steel lost 5 to 723, and Nippon Steel slipped 6 to 729.@@@@1@20@@oe@2-2-2013
21723028@unknown@formal@none@1@S@Mitsubishi Rayon, a leading advancer Wednesday, fell 44 to 861 as investors grabbed profits.@@@@1@14@@oe@2-2-2013
21723029@unknown@formal@none@1@S@London's Financial Times-Stock Exchange 100-share index finished 19.2 points higher at 2189.3.@@@@1@12@@oe@2-2-2013
21723030@unknown@formal@none@1@S@The Financial Times 30-share index ended 13.6 higher at 1772.1.@@@@1@10@@oe@2-2-2013
21723031@unknown@formal@none@1@S@Volume continued to ease from the active dealings at the start of the week.@@@@1@14@@oe@2-2-2013
21723032@unknown@formal@none@1@S@Turnover was 382.9 million shares, compared with 449.3 million Wednesday.@@@@1@10@@oe@2-2-2013
21723033@unknown@formal@none@1@S@Dealers said the market was underpinned by a squeeze in FT-SE 100 stocks, particularly among market-makers seeking shares that had been hit hard in recent weeks, such as retailers and building-related concerns.@@@@1@32@@oe@2-2-2013
21723034@unknown@formal@none@1@S@But despite the flurry of interest in those shares, dealers said, the market remains nervous about Wall Street's volatility and high U.K. interest rates.@@@@1@24@@oe@2-2-2013
21723035@unknown@formal@none@1@S@U.K. money supply figures for September, released yesterday, showed continued growth in corporate and personal lending, which will keep pressure on the government to maintain tight credit.@@@@1@27@@oe@2-2-2013
21723036@unknown@formal@none@1@S@Among the stocks featured in the market-makers' squeeze was Sears, which closed at 107 pence ($1.70) a share, up 3.@@@@1@20@@oe@2-2-2013
21723037@unknown@formal@none@1@S@General Universal Stores, another top-tier stock hit recently by concerns over retail demand in the face of high interest rates, gained 20 to #10.44.@@@@1@24@@oe@2-2-2013
21723038@unknown@formal@none@1@S@Storehouse gained 2 to@@@@1@4@@oe@2-2-2013
21723039@unknown@formal@none@1@S@Another active FT-SE 100 stock was clothing and furniture retailer Burton, which gained 6 to 196.@@@@1@16@@oe@2-2-2013
21723040@unknown@formal@none@1@S@Insurers recovered ground again on market-maker demand and speculative buying linked to talk of mergers in the industry before the European Community's planned market unification in@@@@1@26@@oe@2-2-2013
21723041@unknown@formal@none@1@S@Royal Insurance was the sector's hottest issue, ending 15 higher at 465.@@@@1@12@@oe@2-2-2013
21723042@unknown@formal@none@1@S@Sun Alliance fell 1 to close at 289, and General Accident jumped 10 to #10.13.@@@@1@15@@oe@2-2-2013
21723043@unknown@formal@none@1@S@B.A.T Industries surged in afternoon dealings after its shareholders approved a plan to dispose of its U.S. and U.K. retailing operations to fend off Hoylake Investment's #13.4 billion ($21.33 billion) hostile bid.@@@@1@32@@oe@2-2-2013
21723044@unknown@formal@none@1@S@With the company also exercising a plan to buy back as many as 10% of its shares outstanding, B.A.T closed at 783, up 27.@@@@1@24@@oe@2-2-2013
21723045@unknown@formal@none@1@S@Turnover was 6.8 million shares, including about four million shares traded in the afternoon after the shareholders' meeting.@@@@1@18@@oe@2-2-2013
21723046@unknown@formal@none@1@S@B.A.T said it purchased 2.5 million shares at 785.@@@@1@9@@oe@2-2-2013
21723047@unknown@formal@none@1@S@In other European markets, shares closed sharply higher in Stockholm, Frankfurt, Zurich and Paris and higher in Milan, Amsterdam and Brussels.@@@@1@21@@oe@2-2-2013
21723048@unknown@formal@none@1@S@South African gold stocks closed firmer.@@@@1@6@@oe@2-2-2013
21723049@unknown@formal@none@1@S@Prices also closed higher in Singapore, Sydney, Taipei, Wellington, Hong Kong and Manila but were lower in Seoul.@@@@1@18@@oe@2-2-2013
21723050@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
21723051@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
21723052@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
21724001@unknown@formal@none@1@S@The federal response to California's earthquake crisis was marred by coast-to-coast name-calling between the White House and San Francisco's Mayor Art Agnos.@@@@1@22@@oe@2-2-2013
21724002@unknown@formal@none@1@S@Mr. Agnos complained that he was "ticked off" that Vice President Dan Quayle, who toured the earthquake site Wednesday, didn't schedule a private meeting with him.@@@@1@26@@oe@2-2-2013
21724003@unknown@formal@none@1@S@The mayor said the Quayle visit was "a publicity stunt."@@@@1@10@@oe@2-2-2013
21724004@unknown@formal@none@1@S@The White House said Mr. Quayle's staff had invited the mayor to two meetings of the vice president and groups of local officials and had offered to dispatch a helicopter to pick him up.@@@@1@34@@oe@2-2-2013
21724005@unknown@formal@none@1@S@Mr. Agnos declined the invitations, the White House said.@@@@1@9@@oe@2-2-2013
21724006@unknown@formal@none@1@S@Marlin Fitzwater, White House press secretary, also asserted that Mr. Agnos had failed to return telephone calls from John Sununu, White House chief of staff.@@@@1@25@@oe@2-2-2013
21724007@unknown@formal@none@1@S@"We regret very much that the mayor of San Francisco has decided not to cooperate with us on this matter in making sure that there is adequate federal support for the disaster in his city," Mr. Fitzwater said.@@@@1@38@@oe@2-2-2013
21724008@unknown@formal@none@1@S@By late yesterday, both sides appeared prepared to bury the hatchet.@@@@1@11@@oe@2-2-2013
21724009@unknown@formal@none@1@S@The White House announced that Mr. Agnos, along with the mayors of Oakland and Alameda, are to accompany President Bush on a tour of the earthquake area today.@@@@1@28@@oe@2-2-2013
21724010@unknown@formal@none@1@S@And one White House official reported that Mr. Agnos had been "very helpful" in making arrangements for Mr. Bush's hastily scheduled trip to California.@@@@1@24@@oe@2-2-2013
21725001@unknown@formal@none@1@S@Gold and silver broker Preston Semel asked a federal court to halt the Commodity Exchange from imposing a record $550,000 fine on his firm.@@@@1@24@@oe@2-2-2013
21725002@unknown@formal@none@1@S@The suit, filed in federal court in Manhattan, also asks that the Comex's nine-month suspension of Mr. Semel be lifted, pending the broker's appeal of the disciplinary measures.@@@@1@28@@oe@2-2-2013
21725003@unknown@formal@none@1@S@The fine and suspension, announced in August, are the stiffest sanctions the Comex has ever ordered against one of its members.@@@@1@21@@oe@2-2-2013
21725004@unknown@formal@none@1@S@The Comex accused the 39-year-old Mr. Semel of "fraudulent conduct" and improper trading.@@@@1@13@@oe@2-2-2013
21725005@unknown@formal@none@1@S@The disciplinary proceedings stem from trading in April 1987.@@@@1@9@@oe@2-2-2013
21725006@unknown@formal@none@1@S@Mr. Semel and his firm, Semel & Co., have appealed the Comex decision and the sanctions to the Commodity Futures Trading Commission.@@@@1@22@@oe@2-2-2013
21725007@unknown@formal@none@1@S@The commission denied Mr. Semel's request that the fine and suspension be delayed pending the appeal.@@@@1@16@@oe@2-2-2013
21725008@unknown@formal@none@1@S@The lawsuit states that unless the sanctions are halted pending an appeal, the broker and his firm "will be irreparably injured and their business will be totally and permanently destroyed."@@@@1@30@@oe@2-2-2013
21725009@unknown@formal@none@1@S@Already the firm has paid $211,666 of the fine, the suit said, and it will have to liquidate additional assets in order to pay the rest.@@@@1@26@@oe@2-2-2013
21725010@unknown@formal@none@1@S@A spokesman for the Comex couldn't be reached to comment.@@@@1@10@@oe@2-2-2013
21726001@unknown@formal@none@1@S@The Federal National Mortgage Association said 39 lenders across the U.S. have agreed to offer home loans under Fannie Mae's pilot program for elderly people.@@@@1@25@@oe@2-2-2013
21726002@unknown@formal@none@1@S@Fannie Mae, a federally chartered and shareholder-owned company, said the lenders include Prudential Home Mortgage Co., a unit of Prudential Insurance Co. of America that operates in every state.@@@@1@29@@oe@2-2-2013
21726003@unknown@formal@none@1@S@Prudential Insurance is based in Newark, N.J.@@@@1@7@@oe@2-2-2013
21726004@unknown@formal@none@1@S@Fannie Mae has agreed to buy as much as $100 million of loans under its Seniors' Housing Opportunities pilot program, which offers four types of loans to people 62 years of age or older to help them maintain their home or obtain housing.@@@@1@43@@oe@2-2-2013
21726005@unknown@formal@none@1@S@The loans can be for accessory apartments, for cottages built in a relative's yard, for home-sharing or for sale-lease-back transactions.@@@@1@20@@oe@2-2-2013
21726006@unknown@formal@none@1@S@Fannie Mae makes a secondary market in home loans.@@@@1@9@@oe@2-2-2013
21726007@unknown@formal@none@1@S@It buys loans from lenders, packages some into securities for sale to investors and holds the remainder in a portfolio.@@@@1@20@@oe@2-2-2013
21727001@unknown@formal@none@1@S@Robert M. Gintel, senior partner of a Greenwich, Conn., investment firm, said he plans to launch a proxy fight against the board of Boston-based Xtra Corp.@@@@1@26@@oe@2-2-2013
21727002@unknown@formal@none@1@S@Mr. Gintel, head of Gintel & Co., said he plans to conduct a proxy contest to elect a majority of Xtra's board at the next annual stockholders meeting.@@@@1@28@@oe@2-2-2013
21727003@unknown@formal@none@1@S@Xtra, a transportation leasing company, said in a statement it would have no comment on Mr. Gintel's plans until "further information has been disclosed by him."@@@@1@26@@oe@2-2-2013
21727004@unknown@formal@none@1@S@The company also said its 1990 annual meeting has not been scheduled.@@@@1@12@@oe@2-2-2013
21727005@unknown@formal@none@1@S@Mr. Gintel owns 300,000 of the company's 6.3 million common shares outstanding.@@@@1@12@@oe@2-2-2013
21727006@unknown@formal@none@1@S@Xtra said it recently bought back approximately 55,000 of its shares pursuant to its existing authorization to acquire as many as 650,000 shares.@@@@1@23@@oe@2-2-2013
21727007@unknown@formal@none@1@S@Mr. Gintel has filed suit in Delaware Chancery Court, seeking to block Xtra's anti-takeover tactic.@@@@1@15@@oe@2-2-2013
21727008@unknown@formal@none@1@S@In a filing with the Securities and Exchange Commission, Mr. Gintel said Xtra "has pursued business strategies that aren't in the best interest of stockholders.@@@@1@25@@oe@2-2-2013
21728001@unknown@formal@none@1@S@STOCKS AND BONDS SURGED on the second anniversary of Black Monday as a favorable inflation report prompted speculation of lower interest rates.@@@@1@22@@oe@2-2-2013
21728002@unknown@formal@none@1@S@The Dow Jones industrials closed up 39.55, at 2683.20, after rising over 60 points in mid-afternoon.@@@@1@16@@oe@2-2-2013
21728003@unknown@formal@none@1@S@The rally brought the gain so far this week to about 114 points.@@@@1@13@@oe@2-2-2013
21728004@unknown@formal@none@1@S@The dollar finished mixed, while gold declined.@@@@1@7@@oe@2-2-2013
21728005@unknown@formal@none@1@S@Consumer prices climbed a moderate 0.2% in September, mostly due to higher clothing costs.@@@@1@14@@oe@2-2-2013
21728006@unknown@formal@none@1@S@Energy prices continued to fall at the retail level, but economists worried about a big rise in wholesale energy costs.@@@@1@20@@oe@2-2-2013
21728007@unknown@formal@none@1@S@British Airways dropped out of the current bidding for United Air's parent, leaving a UAL management-pilots group without a key partner.@@@@1@21@@oe@2-2-2013
21728008@unknown@formal@none@1@S@British Air's move raised new questions about the buy-out group's efforts to revive a stalled bid for UAL.@@@@1@18@@oe@2-2-2013
21728009@unknown@formal@none@1@S@A capital-gains tax-cut plan was dropped by Senate Democrats under pressure from their leadership.@@@@1@14@@oe@2-2-2013
21728010@unknown@formal@none@1@S@The move is a setback for Bush, who needs Democratic support to pass a capital-gains cut in the Senate.@@@@1@19@@oe@2-2-2013
21728011@unknown@formal@none@1@S@Other tax breaks also are likely to be restored or created in the coming months as special interest groups try to undo the 1986 tax overhaul.@@@@1@26@@oe@2-2-2013
21728012@unknown@formal@none@1@S@Many retailers are worried that a price war could erupt this Christmas if cash-strapped firms such as Campeau slash prices to spur sales.@@@@1@23@@oe@2-2-2013
21728013@unknown@formal@none@1@S@AT&T unveiled a sweetened early retirement plan for management that the company hopes will save it $450 million in the next year.@@@@1@22@@oe@2-2-2013
21728014@unknown@formal@none@1@S@Also, profit rose 19% in the third quarter.@@@@1@8@@oe@2-2-2013
21728015@unknown@formal@none@1@S@Chrysler will idle a Toledo assembly plant temporarily due to slowing sales of its profitable Jeep Cherokee and Wagoneer sport utility vehicles.@@@@1@22@@oe@2-2-2013
21728016@unknown@formal@none@1@S@Digital Equipment's profit fell 32% in the latest quarter, prompting forecasts of weaker results ahead.@@@@1@15@@oe@2-2-2013
21728017@unknown@formal@none@1@S@Analysts were troubled by signs of flat U.S. orders at the computer maker.@@@@1@13@@oe@2-2-2013
21728018@unknown@formal@none@1@S@IBM plans to unveil over 50 software products on Tuesday to try to end some of the problems in computerizing manufacturing operations.@@@@1@22@@oe@2-2-2013
21728019@unknown@formal@none@1@S@The TV units of Paramount and MCA are exploring offering prime-time programming to independent stations two nights a week.@@@@1@19@@oe@2-2-2013
21728020@unknown@formal@none@1@S@BankAmerica's profit jumped 34% in the third quarter.@@@@1@8@@oe@2-2-2013
21728021@unknown@formal@none@1@S@The rapid recovery continued to be fueled by growth in consumer loans, higher interest margins and only minor loan losses.@@@@1@20@@oe@2-2-2013
21728022@unknown@formal@none@1@S@Big Board short interest fell 4.2% for the month ended Oct. 13, the second decline in a row.@@@@1@18@@oe@2-2-2013
21728023@unknown@formal@none@1@S@Borrowed shares on the Amex rose to another record.@@@@1@9@@oe@2-2-2013
21728024@unknown@formal@none@1@S@Bell Atlantic posted a strong earnings gain for the third quarter, as did Southern New England Telecommunications.@@@@1@17@@oe@2-2-2013
21728025@unknown@formal@none@1@S@But Nynex, Pacific Telesis and U S West had lower profits.@@@@1@11@@oe@2-2-2013
21728026@unknown@formal@none@1@S@B.A.T Industries won shareholder approval for a defensive restructuring to fend off Sir James Goldsmith.@@@@1@15@@oe@2-2-2013
21728027@unknown@formal@none@1@S@American Express's profit climbed 21% in the quarter, aided by a surge in its travel business and despite a big rise in Third World loan reserves.@@@@1@26@@oe@2-2-2013
21728028@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
21728029@unknown@formal@none@1@S@Stocks: Volume 198,120,000 shares.@@@@1@4@@oe@2-2-2013
21728030@unknown@formal@none@1@S@Dow Jones industrials 2683.20, up 39.55; transportation 1263.51, up 15.64; utilities 215.42, up 1.45.@@@@1@14@@oe@2-2-2013
21728031@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3398.65, up@@@@1@8@@oe@2-2-2013
21728032@unknown@formal@none@1@S@Commodities: Dow Jones futures index 130.13, up 0.23; spot index 130.46, up 0.10.@@@@1@13@@oe@2-2-2013
21728033@unknown@formal@none@1@S@Dollar: 141.70 yen, up 0.25; 1.8470 marks, off 0.0015.@@@@1@9@@oe@2-2-2013
21729001@unknown@formal@none@1@S@Computer Sciences Corp., El Segundo, Calif., said the National Aeronautics and Space Administration will negotiate details of a contract valued at about $170 million to provide software for the Ames Research Center.@@@@1@32@@oe@2-2-2013
21729002@unknown@formal@none@1@S@Included in the three-year contract are options for two one-year renewals.@@@@1@11@@oe@2-2-2013
21729003@unknown@formal@none@1@S@NASA awarded the contract to CSC in November but an appeal by Sterling Software Inc. of Dallas sent the contract to the General Services Administration Board of Contract Appeals and the board required NASA to re-evaluate bidders' proposals.@@@@1@38@@oe@2-2-2013
21729004@unknown@formal@none@1@S@Sterling had completed a five-year contract for NASA but lost its bid for renewal.@@@@1@14@@oe@2-2-2013
21729005@unknown@formal@none@1@S@As directed by the board, NASA completed the evaluation and again chose CSC.@@@@1@13@@oe@2-2-2013
21729006@unknown@formal@none@1@S@For its fiscal year ended March 31, CSC had revenue of $1.3 billion.@@@@1@13@@oe@2-2-2013
21730001@unknown@formal@none@1@S@AFTERSHOCKS RATTLED Northern California amid an earthquake cleanup.@@@@1@8@@oe@2-2-2013
21730002@unknown@formal@none@1@S@As power and commuters returned to much of downtown San Francisco for the first time since Tuesday's temblor in the Bay area, three strong aftershocks, one measuring 5.0 on the Richter scale, jolted the region.@@@@1@35@@oe@2-2-2013
21730003@unknown@formal@none@1@S@Serious injuries or damages weren't reported.@@@@1@6@@oe@2-2-2013
21730004@unknown@formal@none@1@S@Californians, meanwhile, tried to cope with still-limited services, blocked roadways and water shortages in the aftermath of the tremor that left scores dead and injured.@@@@1@25@@oe@2-2-2013
21730005@unknown@formal@none@1@S@Thousands remained homeless.@@@@1@3@@oe@2-2-2013
21730006@unknown@formal@none@1@S@Bush is to visit the area today, and officials in Washington estimated that emergency assistance would total at least $2.5 billion.@@@@1@21@@oe@2-2-2013
21730007@unknown@formal@none@1@S@A series of earthquakes struck northern China, killing at least 29 people, injuring hundreds and razing about 8,000 homes, the Xinhua News Agency said.@@@@1@24@@oe@2-2-2013
21730008@unknown@formal@none@1@S@The Senate rejected a constitutional amendment sought by Bush to prohibit desecration of the U.S. flag.@@@@1@16@@oe@2-2-2013
21730009@unknown@formal@none@1@S@While the proposal won a slight majority, the 51-48 vote was well short of the two-thirds needed to approve changes in the Constitution.@@@@1@23@@oe@2-2-2013
21730010@unknown@formal@none@1@S@It was considered a victory for Democratic leaders, who favor a law barring flag burning.@@@@1@15@@oe@2-2-2013
21730011@unknown@formal@none@1@S@The House approved an $837 million aid package for Poland and Hungary, nearly double what Bush had requested.@@@@1@18@@oe@2-2-2013
21730012@unknown@formal@none@1@S@The vote of 345-47 sent the measure to the Senate.@@@@1@10@@oe@2-2-2013
21730013@unknown@formal@none@1@S@Britain's chief justice quashed the murder convictions of four people for Irish Republican Army bombings that killed seven people in 1974.@@@@1@21@@oe@2-2-2013
21730014@unknown@formal@none@1@S@The reversal came after the government conceded that investigators may have faked evidence.@@@@1@13@@oe@2-2-2013
21730015@unknown@formal@none@1@S@The "Guildford Four," three Irishmen and an Englishwoman, have been imprisoned since 1975.@@@@1@13@@oe@2-2-2013
21730016@unknown@formal@none@1@S@The Nobel Prize in literature was won by Camilo Jose Cela, a Spanish writer.@@@@1@14@@oe@2-2-2013
21730017@unknown@formal@none@1@S@His 1942 novel "The Family of Pascual Duarte" is considered the most popular work of fiction in Spanish since Cervantes's "Don Quixote" was published 400 years ago.@@@@1@27@@oe@2-2-2013
21730018@unknown@formal@none@1@S@The Swedish Academy in Stockholm cited the 73-year-old Cela for "rich and intensive prose."@@@@1@14@@oe@2-2-2013
21730019@unknown@formal@none@1@S@The editor of Pravda was dismissed and succeeded by a confidant of Soviet leader Gorbachev.@@@@1@15@@oe@2-2-2013
21730020@unknown@formal@none@1@S@The action at the Communist Party daily, viewed as the Soviet Union's most authoritative newspaper, was considered the most significant development in a week of Kremlin wrangling over the press, including sharp criticism from Gorbachev.@@@@1@35@@oe@2-2-2013
21730021@unknown@formal@none@1@S@East Germany's new leader met with Lutheran Church officials to discuss a growing opposition movement demanding democratic freedoms.@@@@1@18@@oe@2-2-2013
21730022@unknown@formal@none@1@S@As they conferred near East Berlin, a pro-democracy protest erupted in the Baltic city of Greifswald, and activists threatened further rallies against leader Krenz's expected hard-line policies.@@@@1@27@@oe@2-2-2013
21730023@unknown@formal@none@1@S@Police in Prague raided an international meeting on human rights, detaining Czechoslovakia's former foreign minister, Jiri Hajak, and 14 other activists.@@@@1@21@@oe@2-2-2013
21730024@unknown@formal@none@1@S@A leading U.S. human-rights monitor also was briefly held.@@@@1@9@@oe@2-2-2013
21730025@unknown@formal@none@1@S@Dissident playwright Vaclav Havel reportedly escaped the crackdown, the fourth against activists in recent days.@@@@1@15@@oe@2-2-2013
21730026@unknown@formal@none@1@S@Bush met in Washington with Spain's Prime Minister Gonzalez and discussed what the president called "the unique role" that Madrid can play in furthering democracy in Eastern Europe and Latin America.@@@@1@31@@oe@2-2-2013
21730027@unknown@formal@none@1@S@Gonzalez, who pledged to help monitor voting in Nicaragua, was said to be carrying proposals for free elections in Panama.@@@@1@20@@oe@2-2-2013
21730028@unknown@formal@none@1@S@The Galileo spacecraft sped unerringly toward the planet Jupiter, while five astronauts aboard the space shuttle Atlantis measured the Earth's ozone layer.@@@@1@22@@oe@2-2-2013
21730029@unknown@formal@none@1@S@The robot probe was dispatched Wednesday by the shuttle crew, which is to conduct a series of medical and other experiments before their scheduled landing Monday in California.@@@@1@28@@oe@2-2-2013
21730030@unknown@formal@none@1@S@Argentina and Britain agreed to resume diplomatic and economic relations, seven years after the two nations battled over the Falkland Islands.@@@@1@21@@oe@2-2-2013
21730031@unknown@formal@none@1@S@The announcement, in which they said hostilities had ceased, followed a two-day meeting in Madrid.@@@@1@15@@oe@2-2-2013
21730032@unknown@formal@none@1@S@Rebel artillerists bombarded the capital of Afghanistan, killing at least 12 people, as the Soviet Union was reported to be airlifting arms and food to Kabul's forces.@@@@1@27@@oe@2-2-2013
21730033@unknown@formal@none@1@S@Fighting also was reported around the strategic town of Khost, near the Pakistani border.@@@@1@14@@oe@2-2-2013
21730034@unknown@formal@none@1@S@Saudi Arabia's foreign minister met in Damascus with President Assad to develop a plan for the withdrawal of Syria's 40,000 troops from Lebanon as part of a settlement of that nation's 14-year-old civil war.@@@@1@34@@oe@2-2-2013
21730035@unknown@formal@none@1@S@The talks came as Lebanese negotiations on political changes appeared deadlocked.@@@@1@11@@oe@2-2-2013
21730036@unknown@formal@none@1@S@GOP Sen. Specter of Pennsylvania said he would vote to acquit federal Judge Alcee Hastings in his impeachment trial on charges of perjury and bribery conspiracy.@@@@1@26@@oe@2-2-2013
21730037@unknown@formal@none@1@S@Specter, the vice chairman of the Senate's evidence panel, said there was "insufficient evidence to convict" the Miami jurist.@@@@1@19@@oe@2-2-2013
21731001@unknown@formal@none@1@S@After slipping on news of a smaller-than-expected U.S. inflation figure, the dollar rebounded later in the trading day.@@@@1@18@@oe@2-2-2013
21731002@unknown@formal@none@1@S@The U.S. unit dipped to a session low against the mark just after the release of the U.S. consumer price index.@@@@1@21@@oe@2-2-2013
21731003@unknown@formal@none@1@S@The report showed that September consumer prices rose just 0.2%, a smaller increase than expected.@@@@1@15@@oe@2-2-2013
21731004@unknown@formal@none@1@S@The market had anticipated a 0.4% rise in the price index.@@@@1@11@@oe@2-2-2013
21731005@unknown@formal@none@1@S@The September index fueled speculation, damaging to the dollar, that the Federal Reserve soon will ease monetary policy further.@@@@1@19@@oe@2-2-2013
21731006@unknown@formal@none@1@S@But foreign-exchange dealers said the dollar staged a quick comeback, prompted by a round of short covering and some fresh buying interest later in the trading day.@@@@1@27@@oe@2-2-2013
21731007@unknown@formal@none@1@S@Traders said that a nearly 40-point gain in the Dow Jones Industrial Average, fueled in part by news of a lower-than-expected price index, had little influence on the dollar's moves.@@@@1@30@@oe@2-2-2013
21731008@unknown@formal@none@1@S@"The market is beginning to disassociate itself from Wall Street," said one New York trader.@@@@1@15@@oe@2-2-2013
21731009@unknown@formal@none@1@S@In late New York trading yesterday, the dollar was quoted at 1.8470 marks, down from 1.8485 marks late Wednesday, and at 141.70 yen, up from 141.45 yen late Wednesday.@@@@1@29@@oe@2-2-2013
21731010@unknown@formal@none@1@S@Sterling was quoted at $1.5990, up from $1.5920 late Wednesday.@@@@1@10@@oe@2-2-2013
21731011@unknown@formal@none@1@S@In Tokyo Friday, the U.S. currency opened for trading at 141.93 yen, up from Thursday's Tokyo close of 141.55 yen.@@@@1@20@@oe@2-2-2013
21731012@unknown@formal@none@1@S@Some analysts said the consumer price index reflects a more significant slowdown in the U.S. economy than earlier indicated.@@@@1@19@@oe@2-2-2013
21731013@unknown@formal@none@1@S@They point out that September's producer-price index showed a 0.9% increase.@@@@1@11@@oe@2-2-2013
21731014@unknown@formal@none@1@S@They noted that because the consumer price index, known as the CPI, is a more comprehensive measure of inflation and is rising less rapidly than the producer-price index, or PPI, it could signal further easing by Fed.@@@@1@37@@oe@2-2-2013
21731015@unknown@formal@none@1@S@Others suggested, however, that the Fed will hold any changes in monetary policy in check, leaving fed funds at around 8 3/4%, down from the 9% level that prevailed from July through September.@@@@1@33@@oe@2-2-2013
21731016@unknown@formal@none@1@S@Kevin Logan, chief economist with the Swiss Bank Corp., said that both PPI and CPI climbed around 4 1/2% year-to-year in September.@@@@1@22@@oe@2-2-2013
21731017@unknown@formal@none@1@S@He argued that both CPI and PPI have in fact decelerated since spring.@@@@1@13@@oe@2-2-2013
21731018@unknown@formal@none@1@S@"The Fed won't be stampeded into easing," Mr. Logan said, predicting that for now, interest rates will stay where they are.@@@@1@21@@oe@2-2-2013
21731019@unknown@formal@none@1@S@A four-day matched sale-purchase agreement, a move to drain liquidity from the system, was viewed as a technical move, rather than an indication of tightening credit.@@@@1@26@@oe@2-2-2013
21731020@unknown@formal@none@1@S@Market participants note that the mark continues to post heftier gains against its U.S. counterpart than any other major currency, particularly the yen.@@@@1@23@@oe@2-2-2013
21731021@unknown@formal@none@1@S@"There's a bottomless pit of dollar demand" by Japanese investors, said Graham Beale, managing director of foreign exchange at Hongkong & Shanghai Banking Corp. in New York, adding that purely speculative demand wouldn't hold the dollar at its recent levels against the Japanese currency.@@@@1@44@@oe@2-2-2013
21731022@unknown@formal@none@1@S@Mr. Beale commented that the mark remains well bid against other currencies as well.@@@@1@14@@oe@2-2-2013
21731023@unknown@formal@none@1@S@Robert White, manager of corporate trading at First Interstate of California, called the market "psychologically pro-mark," noting that the U.S. remains a "veritable grab bag" for Japanese investors which accounts for the unabated demand for U.S. dollars.@@@@1@37@@oe@2-2-2013
21731024@unknown@formal@none@1@S@On the Commodity Exchange in New York, gold dropped $1.60 to $367.10 an ounce in moderate trading.@@@@1@17@@oe@2-2-2013
21731025@unknown@formal@none@1@S@Estimated volume was three million ounces.@@@@1@6@@oe@2-2-2013
21731026@unknown@formal@none@1@S@In early trading in Hong Kong Friday, gold was at about $366.85 an ounce.@@@@1@14@@oe@2-2-2013
21732001@unknown@formal@none@1@S@Hotel Investors Trust and its affiliate, Hotel Investors Corp., said the companies plan to sell all of the hotels the companies own and operate, except for two hotel-casinos in Las Vegas, Nev.@@@@1@32@@oe@2-2-2013
21732002@unknown@formal@none@1@S@The hotels and management interests will be sold at an auction, said John Rothman, president and chief executive officer of the trust and a director of the corporation.@@@@1@28@@oe@2-2-2013
21732003@unknown@formal@none@1@S@Value of the properties and management interests wasn't disclosed.@@@@1@9@@oe@2-2-2013
21732004@unknown@formal@none@1@S@In all, the Los Angeles-based trust plans to sell its interests in 36 hotels, while the corporation will sell its management interests in 32 of those properties.@@@@1@27@@oe@2-2-2013
21732005@unknown@formal@none@1@S@Excluded from the sale are the interests of the trust and the corporation in two Las Vegas hotel-casinos.@@@@1@18@@oe@2-2-2013
21732006@unknown@formal@none@1@S@After completing the sale and paying debts, the trust and corporation will consider a number of options including a stock repurchase, payment of special dividend or investment in more gaming properties.@@@@1@31@@oe@2-2-2013
21732007@unknown@formal@none@1@S@The companies will retain their current regular quarterly dividend of 25 cents during the sale process, Mr. Rothman said.@@@@1@19@@oe@2-2-2013
21732008@unknown@formal@none@1@S@For the first six months, the trust and corporation had a net loss of $244,000.@@@@1@15@@oe@2-2-2013
21733001@unknown@formal@none@1@S@Baxter International Inc., citing cost-cutting moves and increased sales of its home-care products and dialysis treatments, posted a 20% rise in third-quarter net income on a 5.9% sales boost.@@@@1@29@@oe@2-2-2013
21733002@unknown@formal@none@1@S@The Deerfield, Ill., medical products and services company posted net of $102 million, or 34 cents a share, compared with $85 million, or 28 cents a share, a year ago.@@@@1@30@@oe@2-2-2013
21733003@unknown@formal@none@1@S@Sales totaled $1.81 billion up from $1.71 billion the previous year.@@@@1@11@@oe@2-2-2013
21733004@unknown@formal@none@1@S@For the nine-month period, Baxter said net rose 15% to $307 million, or $1.02 a share, from $267 million, or 89 cents a share, during the year-ago period.@@@@1@28@@oe@2-2-2013
21733005@unknown@formal@none@1@S@Sales for the nine months were up 8% to $5.44 billion from $5.04 billion in the same period in 1988.@@@@1@20@@oe@2-2-2013
21733006@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Baxter closed at $22.25 a share, down 12.5 cents.@@@@1@16@@oe@2-2-2013
21734001@unknown@formal@none@1@S@A group bidding for American Medical International Inc., New York, said it formally received the final financing needed for a $3 billion bid for about 86% of the hospital operator's stock.@@@@1@31@@oe@2-2-2013
21734002@unknown@formal@none@1@S@The offer from IMA Acquisition Corp., for as many as 63 million shares, is set to expire Wednesday.@@@@1@18@@oe@2-2-2013
21734003@unknown@formal@none@1@S@Earlier this month, IMA said it had received about $1 billion of senior debt financing from Chemical Bank and six other banks; Chemical Bank said it was "highly confident" it could arrange the balance of about $509 million.@@@@1@38@@oe@2-2-2013
21734004@unknown@formal@none@1@S@In addition, the $3 billion bid includes $1 billion of debt that will be assumed by IMA, $600 million of high-yield junk bonds that will be sold by First Boston Corp. and $285 million of equity.@@@@1@36@@oe@2-2-2013
21734005@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, American Medical closed at $23.625, up $1.875.@@@@1@15@@oe@2-2-2013
21734006@unknown@formal@none@1@S@American Medical has agreed to the offer, but earlier this month said it had received new "expressions of interest" from two previous bidders.@@@@1@23@@oe@2-2-2013
21734007@unknown@formal@none@1@S@American Medical said it would pursue the inquiries from the companies, but wouldn't identify them unless they make firm offers.@@@@1@20@@oe@2-2-2013
21735001@unknown@formal@none@1@S@H&R Block is one of the great success stories of U.S. business.@@@@1@12@@oe@2-2-2013
21735002@unknown@formal@none@1@S@Oddly enough, this presents a problem for the stock.@@@@1@9@@oe@2-2-2013
21735003@unknown@formal@none@1@S@Some money managers are disenchanted with H&R Block because they suspect the company's glory days are past, or at least passing.@@@@1@21@@oe@2-2-2013
21735004@unknown@formal@none@1@S@Block's tax-preparation business is mature, they say, and some of its diversifications are facing tough competition.@@@@1@16@@oe@2-2-2013
21735005@unknown@formal@none@1@S@It's no secret that Block dominates the mass-market tax-preparation business.@@@@1@10@@oe@2-2-2013
21735006@unknown@formal@none@1@S@The Street knows all about the predictability of its earnings, which are headed for a ninth consecutive yearly increase.@@@@1@19@@oe@2-2-2013
21735007@unknown@formal@none@1@S@The company has consistently earned more than a 20% annual return on its net worth while many companies would be happy with 15%.@@@@1@23@@oe@2-2-2013
21735008@unknown@formal@none@1@S@But the tax-preparation business simply has no more room to grow, says Mark Cremonie, director of research for Capital Supervisors Inc., a Chicago firm that manages $6.5 billion.@@@@1@28@@oe@2-2-2013
21735009@unknown@formal@none@1@S@"You go to any medium-sized town in the U.S. and you're going to see H&R Block tax services."@@@@1@18@@oe@2-2-2013
21735010@unknown@formal@none@1@S@Mr. Cremonie's firm once held about 4.8% of H&R Block.@@@@1@10@@oe@2-2-2013
21735011@unknown@formal@none@1@S@That was before the 1986 tax "reform" made taxes more complex than ever.@@@@1@13@@oe@2-2-2013
21735012@unknown@formal@none@1@S@"One thing you can bet on," he says, "is that Congress will do stupid things with the Tax Code."@@@@1@19@@oe@2-2-2013
21735013@unknown@formal@none@1@S@But Capital Supervisors sold the last of its H&R Block holdings earlier this year.@@@@1@14@@oe@2-2-2013
21735014@unknown@formal@none@1@S@"They're thrashing around for diversification," he says.@@@@1@7@@oe@2-2-2013
21735015@unknown@formal@none@1@S@"I think a lot of their businesses are just so-so."@@@@1@10@@oe@2-2-2013
21735016@unknown@formal@none@1@S@Last week the stock hit an all-time high of 37 1/4 before getting roughed up in the Friday-the-13th minicrash.@@@@1@19@@oe@2-2-2013
21735017@unknown@formal@none@1@S@It closed yesterday at 34 3/4.@@@@1@6@@oe@2-2-2013
21735018@unknown@formal@none@1@S@To be sure, the stock still has a lot of fans.@@@@1@11@@oe@2-2-2013
21735019@unknown@formal@none@1@S@"If you invested $10,000 in the initial public offering in 1962, it would be worth well over $5 million today," says Fredric E. Russell, a Tulsa, Okla., money manager.@@@@1@29@@oe@2-2-2013
21735020@unknown@formal@none@1@S@"I don't know what the risk is {of holding the stock}.@@@@1@11@@oe@2-2-2013
21735021@unknown@formal@none@1@S@Taxes are not going out of business."@@@@1@7@@oe@2-2-2013
21735022@unknown@formal@none@1@S@Many of his peers feel the same way.@@@@1@8@@oe@2-2-2013
21735023@unknown@formal@none@1@S@The number of big institutions that own H&R Block shares is 207 and growing, according to a midyear tally by CDA Investment Technologies.@@@@1@23@@oe@2-2-2013
21735024@unknown@formal@none@1@S@Brokerage houses are sweet on H&R Block, too.@@@@1@8@@oe@2-2-2013
21735025@unknown@formal@none@1@S@Zacks Investment Research counts five brokerage houses that consider the stock a buy, and four that call it a hold.@@@@1@20@@oe@2-2-2013
21735026@unknown@formal@none@1@S@None dare say to sell it.@@@@1@6@@oe@2-2-2013
21735027@unknown@formal@none@1@S@But some money managers are doing just that.@@@@1@8@@oe@2-2-2013
21735028@unknown@formal@none@1@S@Eugene Sit, president of Sit Investment Associates in Minneapolis, says, "When we bought it, we thought the growth rate was going to accelerate" because of computerized tax filing and instant refunds (the customer gets a refund immediately but pays extra to the tax preparer, which waits for Uncle Sam's check).@@@@1@50@@oe@2-2-2013
21735029@unknown@formal@none@1@S@But neither of those developments did much to juice up growth, Mr. Sit says.@@@@1@14@@oe@2-2-2013
21735030@unknown@formal@none@1@S@He figures Block earnings are now growing at about a 10% annual rate (down from about 14% the past five years) and will grow at an 8%-10% rate in the future.@@@@1@31@@oe@2-2-2013
21735031@unknown@formal@none@1@S@That's "not bad," Mr. Sit says, but it sure doesn't justify Block shares being priced at 15 to 16 times estimated earnings for fiscal 1990.@@@@1@25@@oe@2-2-2013
21735032@unknown@formal@none@1@S@He wants stocks whose price/earnings ratio is less than their growth rate; as he figures it, H&R Block doesn't even come close.@@@@1@22@@oe@2-2-2013
21735033@unknown@formal@none@1@S@Two other money managers, in explaining why they have sold large amounts of H&R Block stock this year, spoke on the condition they not be named.@@@@1@26@@oe@2-2-2013
21735034@unknown@formal@none@1@S@"The stock was going no place and the earnings were so-so," said one.@@@@1@13@@oe@2-2-2013
21735035@unknown@formal@none@1@S@(In the past two years, the stock almost stalled out.@@@@1@10@@oe@2-2-2013
21735036@unknown@formal@none@1@S@It was above 33, adjusted for a subsequent split, in 1987, and hasn't gotten much higher since.)@@@@1@17@@oe@2-2-2013
21735037@unknown@formal@none@1@S@"There's no more growth in the tax business {except} for increasing prices," the money manager added.@@@@1@16@@oe@2-2-2013
21735038@unknown@formal@none@1@S@The CompuServe subsidiary (which provides information to home-computer users) is "where the growth is," he said, but its format is "still too complicated."@@@@1@23@@oe@2-2-2013
21735039@unknown@formal@none@1@S@CompuServe provides about 20% of both sales and earnings.@@@@1@9@@oe@2-2-2013
21735040@unknown@formal@none@1@S@The tax business still provides about 70% of earnings, on about 50% of sales.@@@@1@14@@oe@2-2-2013
21735041@unknown@formal@none@1@S@Personnel Pool (temporary workers, mostly in the health-care area) chips in close to 25% of sales but only about 9% of earnings.@@@@1@22@@oe@2-2-2013
21735042@unknown@formal@none@1@S@The shortage of nurses is crimping profit at Personnel Pool, said the second money manager.@@@@1@15@@oe@2-2-2013
21735043@unknown@formal@none@1@S@He concedes H&R Block is "well-entrenched" and "a great company," but says "it doesn't grow fast enough for us.@@@@1@19@@oe@2-2-2013
21735044@unknown@formal@none@1@S@We're looking for something that grows faster and sells at a comparable {price-earnings} multiple."@@@@1@14@@oe@2-2-2013
21735045@unknown@formal@none@1@S@Thomas M. Bloch, president and chief operating officer, says "I would disagree" that the tax business is mature.@@@@1@18@@oe@2-2-2013
21735046@unknown@formal@none@1@S@For example, he says, the company is planning to go nationwide with a new service, tested in parts of the country, aimed at taxpayers who want refunds in a hurry.@@@@1@30@@oe@2-2-2013
21735047@unknown@formal@none@1@S@Mr. Bloch concedes that a recent diversification attempt fell through.@@@@1@10@@oe@2-2-2013
21735048@unknown@formal@none@1@S@"We're still interested {in diversifying}," he says, "but we'd rather be prudent than make a mistake."@@@@1@16@@oe@2-2-2013
21735049@unknown@formal@none@1@S@He also says CompuServe's earnings continue to grow "20% to 30% a year" in spite of tough competition from giants like Sears and IBM.@@@@1@24@@oe@2-2-2013
21735050@unknown@formal@none@1@S@And he says Block's other businesses are growing, although less consistently.@@@@1@11@@oe@2-2-2013
21735051@unknown@formal@none@1@S@H&R Block (NYSE; Symbol:HRB)@@@@1@4@@oe@2-2-2013
21735052@unknown@formal@none@1@S@Business: Tax Preparation@@@@1@3@@oe@2-2-2013
21735053@unknown@formal@none@1@S@Year ended April 30, 1989:@@@@1@5@@oe@2-2-2013
21735054@unknown@formal@none@1@S@Revenue: $899.6 million@@@@1@3@@oe@2-2-2013
21735055@unknown@formal@none@1@S@Net loss: $100.2 million; $1.90 a share@@@@1@7@@oe@2-2-2013
21735056@unknown@formal@none@1@S@First quarter, July 31, 1989:@@@@1@5@@oe@2-2-2013
21735057@unknown@formal@none@1@S@Per-share earnings: Loss of 8 cents vs. loss of 9 cents@@@@1@11@@oe@2-2-2013
21735058@unknown@formal@none@1@S@Average daily trading volume: 145,954 shares@@@@1@6@@oe@2-2-2013
21736001@unknown@formal@none@1@S@Philips Industries Inc. said its board authorized the redemption Dec. 6 of the company's $1 cumulative convertible special preferred stock at $37.50 a share, not including a 25 cent dividend for the current quarter, and the $3 cumulative convertible preferred stock at $75, plus a 75 cent dividend for the current quarter.@@@@1@52@@oe@2-2-2013
21736002@unknown@formal@none@1@S@The Dayton, Ohio, maker of parts for the building and transportation industries said holders of the two issues can convert their stock into common shares through the close of business Dec. 1.@@@@1@32@@oe@2-2-2013
21736003@unknown@formal@none@1@S@Each $1 cumulative share can be converted into 4.92 common shares; the ratio on the $3 cumulative is eight common shares for each $3 cumulative preferred.@@@@1@26@@oe@2-2-2013
21736004@unknown@formal@none@1@S@Philips didn't indicate how many shares outstanding it has of either issue.@@@@1@12@@oe@2-2-2013
21736005@unknown@formal@none@1@S@Company officials couldn't be reached.@@@@1@5@@oe@2-2-2013
21736006@unknown@formal@none@1@S@Earlier this month the company said its board approved a proposed management-led leveraged buy-out at $25.50 a share, or $750 million.@@@@1@21@@oe@2-2-2013
21737001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
21737002@unknown@formal@none@1@S@PUTS AND CALLS, STOCK MARKET PATOIS for options to sell or buy a company's shares, were long an arcane Wall Street art best left to the experts, who used them either as a hedge or for pure speculation.@@@@1@38@@oe@2-2-2013
21737003@unknown@formal@none@1@S@Options lost some of their mystery in 1973 when the Chicago Board of Trade set up a special exchange to deal in them.@@@@1@23@@oe@2-2-2013
21737004@unknown@formal@none@1@S@Until then, options had been traded only in the over-the-counter market, mostly in New York, and in an almost invisible secondary market operating chiefly by telephone.@@@@1@26@@oe@2-2-2013
21737005@unknown@formal@none@1@S@The Chicago Board of Trade, the No. 1 U. S. grain market, had long chafed under the attention won by its innovative archrival, the livestock-dealing Mercantile Exchange.@@@@1@27@@oe@2-2-2013
21737006@unknown@formal@none@1@S@So the men who ran the grain pits listened when Joseph Sullivan, a 35-year-old former Wall Street Journal newsman, offered them the idea of all-options trading.@@@@1@26@@oe@2-2-2013
21737007@unknown@formal@none@1@S@After four year of tinkering and $2.4 million in seed money, the board set up the new marketplace, titled it the Chicago Board Options Exchange, and named Sullivan its first president.@@@@1@31@@oe@2-2-2013
21737008@unknown@formal@none@1@S@The beginnings were modest.@@@@1@4@@oe@2-2-2013
21737009@unknown@formal@none@1@S@The CBOE opened for business on April 26, 1973, in what had been a Board of Trade lunchroom.@@@@1@18@@oe@2-2-2013
21737010@unknown@formal@none@1@S@It listed just 16 options to buy a "pilot list" of stocks on the New York Stock Exchange.@@@@1@18@@oe@2-2-2013
21737011@unknown@formal@none@1@S@(Puts, or sell options, would not be added until 1977.)@@@@1@10@@oe@2-2-2013
21737012@unknown@formal@none@1@S@The 282 members had paid $10,000 apiece for seats.@@@@1@9@@oe@2-2-2013
21737013@unknown@formal@none@1@S@(The 1989 price: $250,000.)@@@@1@4@@oe@2-2-2013
21737014@unknown@formal@none@1@S@The first day's business was 911 contracts (each for 100 shares of one of the listed stocks).@@@@1@17@@oe@2-2-2013
21737015@unknown@formal@none@1@S@By the end of 1973, the number of "underlying" Big Board stocks had been increased to 50 and the options exchange had run up volume of 1.1 million contracts.@@@@1@29@@oe@2-2-2013
21737016@unknown@formal@none@1@S@A year later, it was 5.7 million.@@@@1@7@@oe@2-2-2013
21737017@unknown@formal@none@1@S@Last year, more than 1,800 traders on the CBOE bought and sold 112 million contracts on 178 listed stocks, 60% of all U.S. listed options trading.@@@@1@26@@oe@2-2-2013
21737018@unknown@formal@none@1@S@The new exchange drew instant recognition from an unwelcome quarter.@@@@1@10@@oe@2-2-2013
21737019@unknown@formal@none@1@S@The government, campaigning against fixed brokerage commissions, promptly sued the CBOE over its minimum-fee system.@@@@1@15@@oe@2-2-2013
21738001@unknown@formal@none@1@S@The Nuclear Regulatory Commission ruled unanimously that the financial troubles facing the Seabrook, N.H., nuclear-power plant have no impact on whether the plant receives a full-power license.@@@@1@27@@oe@2-2-2013
21738002@unknown@formal@none@1@S@Massachusetts Attorney General James Shannon, opposing the license, said he will appeal the ruling in federal court.@@@@1@17@@oe@2-2-2013
21738003@unknown@formal@none@1@S@Seabrook officials said the plant could receive a full-power license by the end of the year.@@@@1@16@@oe@2-2-2013
21738004@unknown@formal@none@1@S@The NRC rejected Mr. Shannon's argument that Public Service Co. of New Hampshire, which owns the largest share of Seabrook, and 11 other owners are financially unable to guarantee the plant's safe operation.@@@@1@33@@oe@2-2-2013
21738005@unknown@formal@none@1@S@Mr. Shannon was seeking a waiver of NRC policy that ignores financial considerations in making licensing decisions.@@@@1@17@@oe@2-2-2013
21738006@unknown@formal@none@1@S@In its ruling, the NRC said that because Seabrook will be allowed to charge rates sufficient to run the plant and make payments on past construction costs, consideration of the owners' financial condition is pointless.@@@@1@35@@oe@2-2-2013
21738007@unknown@formal@none@1@S@"The commissioners found the circumstances of the case didn't undercut the assurance from government rate setters of available funds adequate for safe operation," said a commission spokesman.@@@@1@27@@oe@2-2-2013
21738008@unknown@formal@none@1@S@In January 1988, the utility filed for protection under Chapter 11 of the federal Bankruptcy Code, allowing it to continue to operate while protected from creditors' lawsuits.@@@@1@27@@oe@2-2-2013
21739001@unknown@formal@none@1@S@Bristol-Myers Squibb Co., New York, the newly merged drug and health-care-product company, reported record third-quarter earnings for both companies in the merger.@@@@1@22@@oe@2-2-2013
21739002@unknown@formal@none@1@S@Bristol-Myers Co. and Squibb Corp., Princeton, N.J., merged Oct. 4, but the new company reported third-period earnings for both companies.@@@@1@20@@oe@2-2-2013
21739003@unknown@formal@none@1@S@For the fourth quarter, Bristol-Myers Squibb will report one set of earnings.@@@@1@12@@oe@2-2-2013
21739004@unknown@formal@none@1@S@Bristol-Myers said net income rose 15% to $266.2 million, or 93 cents a share, from $232.3 million, or 81 cents a share, a year earlier.@@@@1@25@@oe@2-2-2013
21739005@unknown@formal@none@1@S@Sales gained 5% to $1.59 billion from $1.52 billion.@@@@1@9@@oe@2-2-2013
21739006@unknown@formal@none@1@S@Squibb Corp. said net rose 17% to $144.5 million, or $1.47 a share, from $123 million, or $1.25 a share.@@@@1@20@@oe@2-2-2013
21739007@unknown@formal@none@1@S@Sales were $730.1 million, up 7% from $679.5 million.@@@@1@9@@oe@2-2-2013
21739008@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Bristol-Myers Squibb rose $1.75 to $52.75.@@@@1@13@@oe@2-2-2013
21740001@unknown@formal@none@1@S@PPG Industries Inc., hurt by softness in the U.S. automotive and construction industries, said third-quarter net income fell 5.5% to $106.7 million, or 97 cents a share, from $112.9 million, or $1.03 a share, a year ago.@@@@1@37@@oe@2-2-2013
21740002@unknown@formal@none@1@S@Sales were nearly identical to the year-earlier $1.36 billion.@@@@1@9@@oe@2-2-2013
21740003@unknown@formal@none@1@S@The drop in earnings didn't surprise analysts who said the Pittsburgh glass, coatings and chemical concern had been predicting a slow quarter because of the sluggish construction industry, a major market for the company's flat glass.@@@@1@36@@oe@2-2-2013
21740004@unknown@formal@none@1@S@Glass sales to Canadian and European auto makers and sales of replacement auto glass in all markets increased.@@@@1@18@@oe@2-2-2013
21740005@unknown@formal@none@1@S@The coating segment also posted higher sales particularly in North America and Europe.@@@@1@13@@oe@2-2-2013
21740006@unknown@formal@none@1@S@But sale increases were offset by slumping sales in flat glass and fiberglass reinforcements, the company said.@@@@1@17@@oe@2-2-2013
21740007@unknown@formal@none@1@S@Also, chemicals sales were slightly down because of lower prices for vinyl chloride monomer and other chlorine derivatives.@@@@1@18@@oe@2-2-2013
21740008@unknown@formal@none@1@S@In New York Stock Exchange composite trading, PPG closed at $41 a share, down 37.5 cents.@@@@1@16@@oe@2-2-2013
21741001@unknown@formal@none@1@S@Jefferies Group Inc. said third-quarter net income fell 4%, to $2.2 million, or 35 cents a share, from $2.3 million, or 31 cents a share on more shares, a year earlier.@@@@1@31@@oe@2-2-2013
21741002@unknown@formal@none@1@S@Revenue rose 15%, to $36 million from $31.2 million.@@@@1@9@@oe@2-2-2013
21741003@unknown@formal@none@1@S@Jefferies, a Los Angeles holding company primarily engaged in securities trading, also said stock market declines since the quarter ended Sept. 30 created an unrealized pretax loss of about $6 million in its risk arbitrage account.@@@@1@36@@oe@2-2-2013
21741004@unknown@formal@none@1@S@For the nine months, Jefferies said net fell 39%, to $6.8 million, or $1.07 a share, from $11.1 million, or $1.50 a share.@@@@1@23@@oe@2-2-2013
21741005@unknown@formal@none@1@S@Revenue fell 3%, to $105.2 million from $108.4 million.@@@@1@9@@oe@2-2-2013
21742001@unknown@formal@none@1@S@Sony Corp., New York, said its bids for Columbia Pictures Entertainment Inc. and Guber-Peters Entertainment Co. have been cleared by federal antitrust regulators.@@@@1@23@@oe@2-2-2013
21742002@unknown@formal@none@1@S@The Japanese company said the waiting period under the Hart-Scott-Rodino antitrust act for the $3.4 billion bid for Columbia and the $200 million offer for Guber-Peters expired Monday.@@@@1@28@@oe@2-2-2013
21742003@unknown@formal@none@1@S@Sony has agreed to buy both companies, but is in a legal battle with Warner Communications Inc. over the services of producers Peter Guber and Jon Peters.@@@@1@27@@oe@2-2-2013
21742004@unknown@formal@none@1@S@In a filing with the Securities and Exchange Commission, Sony also said two more suits have been filed opposing the company's agreement to buy Columbia.@@@@1@25@@oe@2-2-2013
21742005@unknown@formal@none@1@S@Sony added that a hearing has been set for Thursday in the Delaware Chancery Court in one of the suits.@@@@1@20@@oe@2-2-2013
21743001@unknown@formal@none@1@S@Thursday, October 19, 1989@@@@1@4@@oe@2-2-2013
21743002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
21743003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
21743004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
21743005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 3/4% high, 8 5/8% low, 8 11/16% near closing bid, 8 11/16% offered.@@@@1@16@@oe@2-2-2013
21743006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
21743007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
21743008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
21743009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
21743010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
21743011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
21743012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.45% 30 to 44 days; 8.25% 45 to 73 days; 8.325% 74 to 99 days; 7.75% 100 to 179 days; 7.50% 180 to 270 days.@@@@1@34@@oe@2-2-2013
21743013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.525% 30 days; 8.425% 60 days; 8.375% 90 days.@@@@1@24@@oe@2-2-2013
21743014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.05% one month; 8.02% two months; 8% three months; 7.98% six months; 7.95% one year.@@@@1@18@@oe@2-2-2013
21743015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
21743016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
21743017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.60% one month; 8.60% three months; 8.45% six months.@@@@1@15@@oe@2-2-2013
21743018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.45% 30 days; 8.32% 60 days; 8.32% 90 days; 8.17% 120 days; 8.08% 150 days; 7.98% 180 days.@@@@1@20@@oe@2-2-2013
21743019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
21743020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 11/16% to 8 9/16% one month; 8 11/16% to 8 9/16% two months; 8 11/16% to 8 9/16% three months; 8 5/8% to 8 1/2% four months; 8 9/16% to 8 7/16% five months; 8 9/16% to 8 7/16% six months.@@@@1@45@@oe@2-2-2013
21743021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 3/4% one month; 8 11/16% three months; 8 9/16% six months; 8 9/16% one year.@@@@1@21@@oe@2-2-2013
21743022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
21743023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 8.50%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
21743024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
21743025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 16, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.37% 13 weeks; 7.42% 26 weeks.@@@@1@35@@oe@2-2-2013
21743026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac): Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@18@@oe@2-2-2013
21743027@unknown@formal@none@1@S@9.87%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
21743028@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21743029@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae): Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par) 9.81%, standard conventional fixed-rate mortgages; 8.70%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@34@@oe@2-2-2013
21743030@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21743031@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.50%.@@@@1@6@@oe@2-2-2013
21743032@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
21743033@unknown@formal@none@1@S@China said the question of Taiwan's membership in the General Agreement on Tariffs and Trade should be considered only after China's own membership in the 97-nation organization is restored.@@@@1@29@@oe@2-2-2013
21743034@unknown@formal@none@1@S@Both China and Taiwan are seeking seats in GATT, which sponsors trade-liberalizing agreements and sets world-commerce rules.@@@@1@17@@oe@2-2-2013
21743035@unknown@formal@none@1@S@"As one of China's provinces, Taiwan has no right to join GATT on its own," Foreign Ministry spokesman Li Zhaoxing said.@@@@1@21@@oe@2-2-2013
21743036@unknown@formal@none@1@S@China, under the Nationalist government of Chiang Kai-shek, was a founding member of GATT in 1947.@@@@1@16@@oe@2-2-2013
21743037@unknown@formal@none@1@S@The Nationalists withdrew in 1950, after their flight to Taiwan, and the Communist government in Beijing applied for restoration of China's membership in July 1986.@@@@1@25@@oe@2-2-2013
21743038@unknown@formal@none@1@S@The U.S. has voiced opposition to China's bid for GATT membership, saying China has yet to undertake needed economic reforms.@@@@1@20@@oe@2-2-2013
21743039@unknown@formal@none@1@S@Japan's biggest women's underwear maker, Wacoal Corp., said that it developed a sports car that it plans to market in two years.@@@@1@22@@oe@2-2-2013
21743040@unknown@formal@none@1@S@The "Jiotto Caspita" can run at over 188 miles an hour, a company spokesman said.@@@@1@15@@oe@2-2-2013
21743041@unknown@formal@none@1@S@The base price of the car is estimated at 30 million yen (about $213,000).@@@@1@14@@oe@2-2-2013
21743042@unknown@formal@none@1@S@Wacoal said it intends to produce the cars through a car manufacturer.@@@@1@12@@oe@2-2-2013
21743043@unknown@formal@none@1@S@Along with the car, Wacoal plans to launch a series of Caspita-brand men's underwear.@@@@1@14@@oe@2-2-2013
21743044@unknown@formal@none@1@S@"Our image is a company that makes women's products," said a Wacoal spokesman.@@@@1@13@@oe@2-2-2013
21743045@unknown@formal@none@1@S@"Now, we're going to sell to men."@@@@1@7@@oe@2-2-2013
21743046@unknown@formal@none@1@S@The British satirical magazine Private Eye won an appeal against the size of a $960,000 libel award to Sonia Sutcliffe, the estranged wife of the "Yorkshire Ripper" mass murderer.@@@@1@29@@oe@2-2-2013
21743047@unknown@formal@none@1@S@An appeals-court panel slashed all but $40,000 from the award, the largest ever set by a British jury, pending a reassessment of the damages.@@@@1@24@@oe@2-2-2013
21743048@unknown@formal@none@1@S@But the panel dismissed the magazine's contention that it hadn't libeled Mrs. Sutcliffe when it accused her of trying to sell her story to capitalize on the notoriety of her husband.@@@@1@31@@oe@2-2-2013
21743049@unknown@formal@none@1@S@Private Eye had been threatened with closure because it couldn't afford the libel payment.@@@@1@14@@oe@2-2-2013
21743050@unknown@formal@none@1@S@Senshukai Co., a travel agent based in Osaka, Japan, announced that it and Nissho Iwai Corp., a major Japanese trading house, will jointly build a 130-unit condominium in Queensland, Australia.@@@@1@30@@oe@2-2-2013
21743051@unknown@formal@none@1@S@Senshukai said the partners plan to rent to tourists but will also sell to interested parties.@@@@1@16@@oe@2-2-2013
21743052@unknown@formal@none@1@S@Senshukai has a 60% stake in the venture and Nissho Iwai has the rest.@@@@1@14@@oe@2-2-2013
21743053@unknown@formal@none@1@S@Construction of the 34-floor building will begin next May and should be completed in April 1992.@@@@1@16@@oe@2-2-2013
21743054@unknown@formal@none@1@S@Units will cost from 500,000 to 3.5 million Australian dollars (about US$386,000 to US$2.7 million).@@@@1@15@@oe@2-2-2013
21743055@unknown@formal@none@1@S@The Soviet Union has halted construction of two Chernobyl-type nuclear reactors and is reassessing the future of 12 other existing reactors.@@@@1@21@@oe@2-2-2013
21743056@unknown@formal@none@1@S@Viktor Sidorenko, vice chairman of the State Committee on Nuclear Safety, said the two reactors were at Kursk and Smolensk.@@@@1@20@@oe@2-2-2013
21743057@unknown@formal@none@1@S@News of the halt comes amid growing anger in the Ukraine and Byelorussia over continuing high levels of radiation from Chernobyl.@@@@1@21@@oe@2-2-2013
21743058@unknown@formal@none@1@S@A former vice president of the Singapore branch of Drexel Burnham Lambert Group Inc. was charged in court yesterday on 19 counts of cheating.@@@@1@24@@oe@2-2-2013
21743059@unknown@formal@none@1@S@Francis Dang, 41, is alleged to have been involved in cheating Drexel Burnham Lambert of up to 2.1 million Singapore dollars (US$1.1 million) by carrying out unauthorized transactions on the London Commodities Exchange and the International Petroleum Exchange.@@@@1@38@@oe@2-2-2013
21743060@unknown@formal@none@1@S@Mr. Dang is alleged to have used the account of Singapore hotel and property magnate Ong Beng Seng to effect the transactions.@@@@1@22@@oe@2-2-2013
21743061@unknown@formal@none@1@S@Japan says its economic growth will fall sharply if it cuts back on the use of oil, coal and gas to cap emissions of carbon dioxide.@@@@1@26@@oe@2-2-2013
21743062@unknown@formal@none@1@S@A Ministry of International Trade and Industry official said that a study found that Japan's annual economic growth rate would eventually be only 0.8% if carbon-dioxide emissions remained at this year's level of 300 million tons.@@@@1@36@@oe@2-2-2013
21743063@unknown@formal@none@1@S@The study will support arguments against capping carbon-dioxide emissions that Japan will make at a U.N.-backed conference on atmospheric pollution next month.@@@@1@22@@oe@2-2-2013
21743064@unknown@formal@none@1@S@The study said Japan's carbon-dioxide emissions would slightly more than double by 2010 unless the nation reduced its dependence on fossil fuels.@@@@1@22@@oe@2-2-2013
21743065@unknown@formal@none@1@S@It said that expanding nuclear-power capability is the quickest way to lessen that dependence.@@@@1@14@@oe@2-2-2013
21743066@unknown@formal@none@1@S@But increased reliance on nuclear power would meet stiff opposition from environmentalists, a second ministry official said.@@@@1@17@@oe@2-2-2013
21743067@unknown@formal@none@1@S@Just in time for Halloween, Britain's Oxford University Press is publishing a "Dictionary of Superstitions."@@@@1@15@@oe@2-2-2013
21743068@unknown@formal@none@1@S@The books 1,500 entries include stepping on cracks and knocking on wood. . . .@@@@1@15@@oe@2-2-2013
21743069@unknown@formal@none@1@S@In New Zealand's tiny township of Kaitaia, which has had direct dialing for less than a year, about 30 angry phone-company customers questioned the size of their bills.@@@@1@28@@oe@2-2-2013
21743070@unknown@formal@none@1@S@It turned out their children had been dialing a "sex fantasy" service in the U.S.@@@@1@15@@oe@2-2-2013
21744001@unknown@formal@none@1@S@Slowing sales of its profitable Jeep Cherokee and Wagoneer sport utility vehicles are forcing Chrysler Corp. to temporarily idle its Toledo, Ohio, assembly plant for the first time since April 1986.@@@@1@31@@oe@2-2-2013
21744002@unknown@formal@none@1@S@About 5,500 hourly workers will be laid off for a week beginning Oct. 23, and overtime has been eliminated at the plant for the fourth quarter, a Chrysler spokesman said.@@@@1@30@@oe@2-2-2013
21744003@unknown@formal@none@1@S@That's a significant change from earlier this year when the plant worked substantial overtime only to have sales fall short of the company's bullish expectations.@@@@1@25@@oe@2-2-2013
21744004@unknown@formal@none@1@S@Sales of Cherokee, the best-selling Jeep, and the lower-volume Wagoneer were actually up about 10% through the end of last month.@@@@1@21@@oe@2-2-2013
21744005@unknown@formal@none@1@S@But that's less than Chrysler officials had hoped when they set ambitious production schedules for the Toledo plant earlier this year.@@@@1@21@@oe@2-2-2013
21744006@unknown@formal@none@1@S@Even when it became clear this spring that demand wasn't coming up to expectations, Chrysler officials "resisted" cutting output because Cherokee and Wagoneer are "very profitable vehicles," the spokesman said.@@@@1@30@@oe@2-2-2013
21744007@unknown@formal@none@1@S@Instead, Chrysler officials in late May slapped $1,000 cash rebates on the vehicles, including the first such incentives on the popular four-door Cherokee since Chrysler bought Jeep in 1987.@@@@1@29@@oe@2-2-2013
21744008@unknown@formal@none@1@S@The incentives boosted sales for a while, but the pace had cooled by last month.@@@@1@15@@oe@2-2-2013
21744009@unknown@formal@none@1@S@The result: Chrysler dealers had a bloated 82-day supply of the Cherokee as of the end of last month and a 161-day supply of the Comanche pickup, which Toledo also builds.@@@@1@31@@oe@2-2-2013
21744010@unknown@formal@none@1@S@A 60-day to 65-day supply is considered normal.@@@@1@8@@oe@2-2-2013
21744011@unknown@formal@none@1@S@At Jasper Jeep-Eagle, one of the largest Jeep dealerships in the country, inventories have continued to swell.@@@@1@17@@oe@2-2-2013
21744012@unknown@formal@none@1@S@Steve Lowe, general manager of Jasper, Ga., dealership, said new rebates of $500 to $1,000 on the models have stimulated sales, but not enough to significantly cut dealer stocks.@@@@1@29@@oe@2-2-2013
21744013@unknown@formal@none@1@S@"If people aren't buying, you have to close plants," he said.@@@@1@11@@oe@2-2-2013
21744014@unknown@formal@none@1@S@Separately, Chrysler said it will idle for four weeks the St. Louis assembly plant that builds the Chrysler LeBaron and Dodge Daytona models.@@@@1@23@@oe@2-2-2013
21744015@unknown@formal@none@1@S@Chrysler officials said the plant is scheduled to resume production on Nov. 20., and 3,300 hourly workers will be affected.@@@@1@20@@oe@2-2-2013
21744016@unknown@formal@none@1@S@General Motors Corp., meanwhile, said it will idle for yet another week its Linden, N.J., assembly plant, bringing to three weeks the total time that plant will be idled during October.@@@@1@31@@oe@2-2-2013
21744017@unknown@formal@none@1@S@GM said the assembly plant, which builds the Chevrolet Corsica and Beretta compact cars, originally was scheduled to reopen Monday but now will not resume production until Oct. 30.@@@@1@29@@oe@2-2-2013
21744018@unknown@formal@none@1@S@The shutdown affects 3,000 workers and will cut output by about 4,320 cars.@@@@1@13@@oe@2-2-2013
21744019@unknown@formal@none@1@S@Sluggish sales of the Beretta and Corsica spurred GM to offer $800 rebates on those cars.@@@@1@16@@oe@2-2-2013
21744020@unknown@formal@none@1@S@The Corsica and Beretta make up the highest-volume car line at Chevrolet, but sales of the cars are off 9.6% for the year, and fell a steep 34.2% early this month.@@@@1@31@@oe@2-2-2013
21744021@unknown@formal@none@1@S@GM has scheduled overtime at its Lordstown, Ohio, and Janesville, Wis., assembly plants, which build the Chevrolet Cavalier.@@@@1@18@@oe@2-2-2013
21744022@unknown@formal@none@1@S@Ford Motor Co. said it will shut down for one week its Kentucky Truck Plant because of a "shortage of dealer orders."@@@@1@22@@oe@2-2-2013
21744023@unknown@formal@none@1@S@The shutdown will idle 2,000 hourly employees and eliminate production of about 1,300 medium and heavy duty trucks.@@@@1@18@@oe@2-2-2013
21744024@unknown@formal@none@1@S@The assembly plant is scheduled to resume production on Oct. 30.@@@@1@11@@oe@2-2-2013
21744025@unknown@formal@none@1@S@Meanwhile, the nine major U.S. auto makers plan to build 143,178 cars this week, down 11.7% from 162,190 a year ago and flat with last week's 142,117 car output.@@@@1@29@@oe@2-2-2013
21744026@unknown@formal@none@1@S@f-Includes Chevrolet Prizm and Toyota Corolla.@@@@1@6@@oe@2-2-2013
21744027@unknown@formal@none@1@S@r-Revised.@@@@1@1@@oe@2-2-2013
21744028@unknown@formal@none@1@S@x-Year-to-date 1988 figure includes Volkswagen domestic-production through July.@@@@1@8@@oe@2-2-2013
21745001@unknown@formal@none@1@S@LOTUS DEVELOPMENT Corp.'s net income rose 61% in the third quarter from the year-earlier period.@@@@1@15@@oe@2-2-2013
21745002@unknown@formal@none@1@S@Yesterday's edition misstated the percentage increase.@@@@1@6@@oe@2-2-2013
21746001@unknown@formal@none@1@S@First Fidelity Bancorp., Lawrenceville, N.J., reported a 24% drop in third-quarter profit, because of a decline in earning assets, lower loan volume and tighter interest margins.@@@@1@26@@oe@2-2-2013
21746002@unknown@formal@none@1@S@The bank holding company posted net income of $54.4 million, or 87 cents a share, including $1.7 million, or three cents a share, in one-time tax benefits.@@@@1@27@@oe@2-2-2013
21746003@unknown@formal@none@1@S@A year earlier, net was $71.6 million, or $1.22 a share.@@@@1@11@@oe@2-2-2013
21746004@unknown@formal@none@1@S@First Fidelity said non-performing assets increased to $482.3 million Sept. 30 from $393.1 million June 30.@@@@1@16@@oe@2-2-2013
21746005@unknown@formal@none@1@S@The rise resulted from the transfer to non-accrual status of $96 million "owed by two national borrowers and one local commercial real-estate customer," First Fidelity said.@@@@1@26@@oe@2-2-2013
21746006@unknown@formal@none@1@S@It said it doesn't anticipate any loss of principal on two of the loans, comprising $85 million of these credits.@@@@1@20@@oe@2-2-2013
21746007@unknown@formal@none@1@S@First Fidelity said it boosted its loan-loss provision to $50.9 million from $20.4 million a year ago, primarily because of a weaker real-estate sector in the region.@@@@1@27@@oe@2-2-2013
21747001@unknown@formal@none@1@S@VIACOM Inc.'s loss narrowed to $21.7 million in the third quarter from $56.9 million a year ago.@@@@1@17@@oe@2-2-2013
21747002@unknown@formal@none@1@S@Thursday's edition misstated the narrowing.@@@@1@5@@oe@2-2-2013
21748001@unknown@formal@none@1@S@Coastal Corp. said it signed a definitive agreement with Aruba to restart a 150,000-barrel-a-day oil refinery.@@@@1@16@@oe@2-2-2013
21748002@unknown@formal@none@1@S@Coastal wouldn't disclose the terms.@@@@1@5@@oe@2-2-2013
21748003@unknown@formal@none@1@S@Coastal, a Houston oil and gas company, said it expects to begin operations in October 1990.@@@@1@16@@oe@2-2-2013
21748004@unknown@formal@none@1@S@The company said it may install additional processing units at the refinery to produce higher octane gasolines and other products.@@@@1@20@@oe@2-2-2013
21748005@unknown@formal@none@1@S@The company said it was leasing the site of the refinery from Aruba.@@@@1@13@@oe@2-2-2013
21748006@unknown@formal@none@1@S@Exxon Corp. built the plant but closed it in 1985 and sold off much of the equipment to dismantling contractors, from whom Coastal bought back much of the equipment.@@@@1@29@@oe@2-2-2013
21748007@unknown@formal@none@1@S@A Coastal spokesman said the biggest expense will be to refurbish the refinery but wouldn't say how much that would be.@@@@1@21@@oe@2-2-2013
21748008@unknown@formal@none@1@S@The prime minister of Aruba has said it could cost around $100 million.@@@@1@13@@oe@2-2-2013
21748009@unknown@formal@none@1@S@Coastal said the refinery's expected daily production will include 34,000 barrels of jet fuel, 32,000 barrels of low-sulfur diesel fuel, 30,000 barrels of naphtha, 17,000 barrels of residual fuel oil, 8,000 barrels of asphalt and 25,000 barrels of low-sulfur catalytic cracker feedstock.@@@@1@42@@oe@2-2-2013
21749001@unknown@formal@none@1@S@Loral Corp. said fiscal second-quarter net income was $19.8 million, or 79 cents a share, compared with year-earlier earnings from continuing operations of $15.6 million, or 62 cents a share.@@@@1@30@@oe@2-2-2013
21749002@unknown@formal@none@1@S@Year-earlier net of $21 million, or 84 cents a share, included the results of Loral's former Aircraft Braking Systems and Engineered Fabrics divisions, which were sold April 27 to the company's chairman, Bernard L. Schwartz.@@@@1@35@@oe@2-2-2013
21749003@unknown@formal@none@1@S@The defense electronics concern attributed the operating improvement to higher profit margins and lower net interest expense.@@@@1@17@@oe@2-2-2013
21749004@unknown@formal@none@1@S@Loral also reported that its bookings more than doubled to $654 million in the quarter, ended Sept. 30, from $257 million, in the year-before period.@@@@1@25@@oe@2-2-2013
21749005@unknown@formal@none@1@S@The increase was due mainly to a $325 million order from Turkey to equip its fleet of F-16 fighters with Loral's ALQ-178 Rapport III electronic countermeasures system.@@@@1@27@@oe@2-2-2013
21749006@unknown@formal@none@1@S@The order is the biggest in the company's history.@@@@1@9@@oe@2-2-2013
21749007@unknown@formal@none@1@S@Sales in the latest period edged up to $295.7 million from $293.9 million.@@@@1@13@@oe@2-2-2013
21749008@unknown@formal@none@1@S@Mr. Schwartz said the recent increase in orders "puts us well on the way to our goal of $1.6 billion in bookings for the year."@@@@1@25@@oe@2-2-2013
21749009@unknown@formal@none@1@S@He added: "I expect to see the earnings momentum we experienced this quarter continue for the rest of the year."@@@@1@20@@oe@2-2-2013
21749010@unknown@formal@none@1@S@Loral said it expects sales to accelerate in both the third and fourth quarters of this fiscal year.@@@@1@18@@oe@2-2-2013
21749011@unknown@formal@none@1@S@Loral's profit from continuing operations for the first six months of fiscal 1990 was $36.4 million, or $1.44 a share, up 31% from $27.8 million, or $1.11 a share, a year earlier.@@@@1@32@@oe@2-2-2013
21749012@unknown@formal@none@1@S@Net income fell 8.6% to $37.1 million, or $1.43 a share, from $40.6 million, or $1.56 a share.@@@@1@18@@oe@2-2-2013
21749013@unknown@formal@none@1@S@Fiscal first-half sales slipped 3.9% to $528.4 million from $549.9 million.@@@@1@11@@oe@2-2-2013
21749014@unknown@formal@none@1@S@Bookings for the first half totaled $813 million, compared with the $432 million recorded last year.@@@@1@16@@oe@2-2-2013
21749015@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Loral closed at $33.25, down 37.5 cents.@@@@1@14@@oe@2-2-2013
21750001@unknown@formal@none@1@S@HealthVest said two of its lenders have given it notices of default on bank loans and said they may take actions to recover their loans.@@@@1@25@@oe@2-2-2013
21750002@unknown@formal@none@1@S@HealthVest, an Austin, Texas, real estate investment trust, said that Chemical Bank, the lead bank under its domestic bank agreement, told it that if $3.3 million owed to the bank group isn't paid by today, the group will call the $120 million that HealthVest has outstanding under the credit line.@@@@1@50@@oe@2-2-2013
21750003@unknown@formal@none@1@S@The bank group also said that it won't make additional advances under the $150 million credit line.@@@@1@17@@oe@2-2-2013
21750004@unknown@formal@none@1@S@HealthVest missed a payment to the group that was due in late September.@@@@1@13@@oe@2-2-2013
21750005@unknown@formal@none@1@S@In addition, HealthVest said Bank of Tokyo Trust Co. also has notified it of a default and said it might take action to cure the default.@@@@1@26@@oe@2-2-2013
21750006@unknown@formal@none@1@S@HealthVest missed an interest payment to Bank of Tokyo on Oct. 1.@@@@1@12@@oe@2-2-2013
21750007@unknown@formal@none@1@S@However, HealthVest said the Tokyo bank indicated that it won't accelerate HealthVest's $50 million loan.@@@@1@15@@oe@2-2-2013
21750008@unknown@formal@none@1@S@HealthVest is in a severe liquidity bind because its affiliate, Healthcare International Inc., has failed to make about $10.6 million in principal and interest payments owed since August.@@@@1@28@@oe@2-2-2013
21750009@unknown@formal@none@1@S@Healthcare operates many of the health-care properties that HealthVest owns.@@@@1@10@@oe@2-2-2013
21751001@unknown@formal@none@1@S@EMPIRE PENCIL, later called Empire-Berol, developed the plastic pencil in 1973.@@@@1@11@@oe@2-2-2013
21751002@unknown@formal@none@1@S@Yesterday's Centennial Journal misstated the company's name.@@@@1@7@@oe@2-2-2013
21752001@unknown@formal@none@1@S@Storage Technology Corp. had net income of $8.3 million, or 32 cents a share, for its fiscal-third quarter ended Sept. 29, almost 15 times the $557,000, or two cents a share, it posted for the year-ago period.@@@@1@37@@oe@2-2-2013
21752002@unknown@formal@none@1@S@Storage, Louisville, Colo., which makes data-storage devices for mainframe computers, said the huge increase in net reflects "strong sales" of its tape products, particularly the 4400 Automated Cartridge System, which holds a library of tape cartridges.@@@@1@36@@oe@2-2-2013
21752003@unknown@formal@none@1@S@The company said it recently sold its 750th cartridge system, which cost $400,000 to $500,000 each.@@@@1@16@@oe@2-2-2013
21752004@unknown@formal@none@1@S@Quarter revenue was $232.6 million, up 12% from $206 million last year.@@@@1@12@@oe@2-2-2013
21752005@unknown@formal@none@1@S@The stock market reacted strongly to the news.@@@@1@8@@oe@2-2-2013
21752006@unknown@formal@none@1@S@Storage rose $1.125 a share, to close at $14, in New York Stock Exchange composite trading.@@@@1@16@@oe@2-2-2013
21752007@unknown@formal@none@1@S@For the nine months, Storage had net of $25.5 million, or 98 cents a share, including an $11.3 million extraordinary gain for the anticipated proceeds from liquidating an Irish unit.@@@@1@30@@oe@2-2-2013
21752008@unknown@formal@none@1@S@Net was up 69% from $15.1 million, or 57 cents a share, last year.@@@@1@14@@oe@2-2-2013
21752009@unknown@formal@none@1@S@Revenue for the latest period was up 11% to $682.7 million, from $614.6 million.@@@@1@14@@oe@2-2-2013
21753001@unknown@formal@none@1@S@A Canadian government agency conditionally approved proposed exports to the U.S. of natural gas from big, untapped fields in the Mackenzie River delta area of the western Canadian Arctic.@@@@1@29@@oe@2-2-2013
21753002@unknown@formal@none@1@S@Three companies, Esso Resources Canada Ltd., Shell Canada Ltd. and Gulf Canada Resources Ltd., applied to the Canadian National Energy Board to export 9.2 trillion cubic feet of Mackenzie delta natural gas over 20 years starting in 1996.@@@@1@38@@oe@2-2-2013
21753003@unknown@formal@none@1@S@To be economically feasible, the 11 billion Canadian dollar (US$9.37 billion) project requires almost a doubling of natural gas export prices.@@@@1@21@@oe@2-2-2013
21753004@unknown@formal@none@1@S@It also faces numerous other hurdles including an agreement on a pipeline route for the gas.@@@@1@16@@oe@2-2-2013
21753005@unknown@formal@none@1@S@The board said the export licenses would be issued on the condition that Canadian interests would also be allowed to bid for the Mackenzie delta gas on terms similar to those offered to U.S. customers.@@@@1@35@@oe@2-2-2013
21753006@unknown@formal@none@1@S@U.S. buyers have already been lined up.@@@@1@7@@oe@2-2-2013
21753007@unknown@formal@none@1@S@They include Enron Corp., Texas Eastern Corp., Pacific Interstate Transmission Co. and Tennessee Gas Pipeline Co.@@@@1@16@@oe@2-2-2013
21753008@unknown@formal@none@1@S@The project could result in the U.S. taking more than 10% of its natural gas supplies from Canada, up from about 5% currently.@@@@1@23@@oe@2-2-2013
21753009@unknown@formal@none@1@S@It would bring 13 gas fields into production at a combined rate of about 1.2 billion cubic feet a day.@@@@1@20@@oe@2-2-2013
21753010@unknown@formal@none@1@S@The board estimated that the cost of building a pipeline from the Mackenzie delta to Alberta would be about C$5.9 million.@@@@1@21@@oe@2-2-2013
21753011@unknown@formal@none@1@S@It also said projections of surging U.S. demand for natural gas and price forecasts of C$5.25 per thousand cubic feet by 2005 would make the project economically viable.@@@@1@28@@oe@2-2-2013
21753012@unknown@formal@none@1@S@Esso, a unit of Imperial Oil Ltd. which is 71%-owned by Exxon Corp., will be allowed to export 5.1 trillion cubic feet to the U.S. in the 20-year period.@@@@1@29@@oe@2-2-2013
21753013@unknown@formal@none@1@S@Shell, a subsidiary of Royal Dutch/Shell Group, will be allowed to export 0.9 trillion cubic feet, and Gulf, a unit of Olympia & York Developments Ltd. will be allowed to export 3.2 trillion cubic feet.@@@@1@35@@oe@2-2-2013
21754001@unknown@formal@none@1@S@Combustion Engineering Inc., Stamford, Conn., said it sold and agreed to sell several investments and nonstrategic businesses for about $100 million, which will be used for reducing debt and general purposes.@@@@1@31@@oe@2-2-2013
21754002@unknown@formal@none@1@S@The transactions are unrelated.@@@@1@4@@oe@2-2-2013
21754003@unknown@formal@none@1@S@The company agreed to sell its minority investments in makers of steam-generating and related equipment, Stein Industrie and Energie & Verfahrenstechnik, to the major shareholder in the companies, Dutch-based GEC Alsthom N.V.@@@@1@32@@oe@2-2-2013
21754004@unknown@formal@none@1@S@Combustion Engineering, which provides engineered products, systems and services for power generation, also sold Illinois Minerals Co., based in Cairo, Ill.@@@@1@21@@oe@2-2-2013
21754005@unknown@formal@none@1@S@That unit of its Georgia Kaolin Co. subsidiary was sold to a unit of Unimin Corp.@@@@1@16@@oe@2-2-2013
21754006@unknown@formal@none@1@S@Assets of Construction Equipment International, Houston, were sold to Essex Crane Inc., and the assets of Elgin Electronics, Erie, Pa., were sold to closely held Charter Technologies Inc.@@@@1@28@@oe@2-2-2013
21755001@unknown@formal@none@1@S@Where do Americans put their money?@@@@1@6@@oe@2-2-2013
21755002@unknown@formal@none@1@S@It depends on when you look.@@@@1@6@@oe@2-2-2013
21755003@unknown@formal@none@1@S@In 1900, for instance, less than 8% of assets went into bank deposits.@@@@1@13@@oe@2-2-2013
21755004@unknown@formal@none@1@S@That rose to nearly 18% during the Depression, and hasn't changed much since.@@@@1@13@@oe@2-2-2013
21755005@unknown@formal@none@1@S@Pension reserves, on the other hand, made up a relatively small part of household assets until the last decade, when they skyrocketed.@@@@1@22@@oe@2-2-2013
21755006@unknown@formal@none@1@S@And there has been a drastic decline in the importance of unincorporated business assets -- thanks to industry consolidation and a decline in family farms.@@@@1@25@@oe@2-2-2013
21755007@unknown@formal@none@1@S@That's some of what emerges from the following charts, which show how Americans have changed their investment patterns over the past 90 years.@@@@1@23@@oe@2-2-2013
21755008@unknown@formal@none@1@S@Some results are self-explanatory.@@@@1@4@@oe@2-2-2013
21755009@unknown@formal@none@1@S@But other figures are surprising.@@@@1@5@@oe@2-2-2013
21755010@unknown@formal@none@1@S@Housing, for instance, has remained a fairly steady component of household assets over the past decade -- although common wisdom would have expected an increase.@@@@1@25@@oe@2-2-2013
21755011@unknown@formal@none@1@S@"There is a lot of attention paid to housing as a form of household wealth," says Edward N. Wolff, professor of economics at New York University.@@@@1@26@@oe@2-2-2013
21755012@unknown@formal@none@1@S@"But it hasn't increased much relative to other assets.@@@@1@9@@oe@2-2-2013
21755013@unknown@formal@none@1@S@It suggests that households accumulate wealth across a broad spectrum of assets.@@@@1@12@@oe@2-2-2013
21755014@unknown@formal@none@1@S@And housing though it appears in the popular mind as being the major {growing} household asset, isn't."@@@@1@17@@oe@2-2-2013
21755015@unknown@formal@none@1@S@In addition, investors' desire to hold stocks -- directly and through mutual funds -- has held surprisingly steady; stocks' importance among assets largely reflects the ups and downs of the stock market, and not a shift in stock-holding preferences.@@@@1@39@@oe@2-2-2013
21755016@unknown@formal@none@1@S@"Stocks have not spread to the general public, despite the fact that the environment is much different," concludes Robert Avery, an economist at Cornell University.@@@@1@25@@oe@2-2-2013
21755017@unknown@formal@none@1@S@"To me it says that despite all the views that we spend too much of our wealth on paper assets, we have ways of holding wealth similar to 100 years ago."@@@@1@31@@oe@2-2-2013
21755018@unknown@formal@none@1@S@-- The charts show how househld assets have been distributed over time.@@@@1@12@@oe@2-2-2013
21755019@unknown@formal@none@1@S@The main components of the various asseet categories: Housing: Primary home, but not the land it's on.@@@@1@17@@oe@2-2-2013
21755020@unknown@formal@none@1@S@Land and Other Real Estate: Land on which primary home is built, investment property.@@@@1@14@@oe@2-2-2013
21755021@unknown@formal@none@1@S@Consumer Durables: Automobiles, appliances, furniture.@@@@1@5@@oe@2-2-2013
21755022@unknown@formal@none@1@S@Bank Deposits: Currency, checking-account deposits, small savings and time deposits, certificates of deposits, money-market fund shares.@@@@1@16@@oe@2-2-2013
21755023@unknown@formal@none@1@S@Bonds: Excludes bond funds.@@@@1@4@@oe@2-2-2013
21755024@unknown@formal@none@1@S@Stocks/Mutual Funds: Stocks and mutual funds other than money-market funds.@@@@1@10@@oe@2-2-2013
21755025@unknown@formal@none@1@S@Unincorporated Business: Partnerships and sole proprietorships, professional corporations.@@@@1@8@@oe@2-2-2013
21755026@unknown@formal@none@1@S@Pension Reserves: Holdings by pension funds.@@@@1@6@@oe@2-2-2013
21756001@unknown@formal@none@1@S@McCaw Cellular Communications Inc. said it sent a letter to LIN Broadcasting Corp. clarifying its revised tender offer for LIN and asking LIN to conduct "a fair auction."@@@@1@28@@oe@2-2-2013
21756002@unknown@formal@none@1@S@The letter apparently came in response to a request for clarification by LIN earlier this week.@@@@1@16@@oe@2-2-2013
21756003@unknown@formal@none@1@S@LIN, which has agreed with BellSouth Corp. to merge their cellular-telephone businesses, said then that it wouldn't take a position on McCaw's revised tender offer.@@@@1@25@@oe@2-2-2013
21756004@unknown@formal@none@1@S@Earlier this month, McCaw revised its offer to $125 a share for 22 million LIN shares.@@@@1@16@@oe@2-2-2013
21756005@unknown@formal@none@1@S@McCaw is seeking 50.3% of the cellular and broadcasting concern; the revised offer includes a feature requiring McCaw to begin an auction process in July 1994 that would buy out remaining holders at a per-share price roughly equivalent to what a third party might then have to pay for all of LIN.@@@@1@52@@oe@2-2-2013
21756006@unknown@formal@none@1@S@The letter outlines broad powers for an independent group of directors provided for in the revised offer.@@@@1@17@@oe@2-2-2013
21756007@unknown@formal@none@1@S@In a statement, Craig O. McCaw, chairman and chief executive officer of McCaw, said: "We trust LIN will take no further actions that favor BellSouth."@@@@1@25@@oe@2-2-2013
21756008@unknown@formal@none@1@S@McCaw said the three independent directors provided for in the offer would be designated by the current board.@@@@1@18@@oe@2-2-2013
21756009@unknown@formal@none@1@S@The successors would be nominated by the independent directors.@@@@1@9@@oe@2-2-2013
21756010@unknown@formal@none@1@S@LIN would have a priority right to pursue all opportunities to acquire U.S. cellular interests in markets other than those in which McCaw holds an interest, or which are contiguous to those markets, unless LIN has an interest there or contiguous to it.@@@@1@43@@oe@2-2-2013
21756011@unknown@formal@none@1@S@Independent directors would have veto rights to any acquisition if they unanimously decide it isn't in LIN's best interest.@@@@1@19@@oe@2-2-2013
21756012@unknown@formal@none@1@S@Independent directors would be able to block transactions they unanimously deem would be likely to depress the private market value of LIN at the time it is to be sold in five years.@@@@1@33@@oe@2-2-2013
21756013@unknown@formal@none@1@S@If LIN is put up for sale rather than purchased by McCaw in five years, McCaw won't submit a bid unless the independent directors request it, and the independent directors will run the bidding.@@@@1@34@@oe@2-2-2013
21756014@unknown@formal@none@1@S@The directors would be able to sell particular assets to enable such buyers as the regional Bell operating companies to purchase the company's interests.@@@@1@24@@oe@2-2-2013
21757001@unknown@formal@none@1@S@MCA Inc. said third-quarter net fell 6.3% to $50.8 million, or 69 cents a share, from $54.3 million, or 74 cents a share, a year earlier.@@@@1@26@@oe@2-2-2013
21757002@unknown@formal@none@1@S@MCA said revenue rose 14% to $918.4 million from $806.7 million.@@@@1@11@@oe@2-2-2013
21757003@unknown@formal@none@1@S@The entertainment concern said the success of several movies released during the quarter, including "Parenthood" and "Uncle Buck," contributed to record revenue for its film unit.@@@@1@26@@oe@2-2-2013
21757004@unknown@formal@none@1@S@Both MCA's music-entertainment and book-publishing units also posted record revenue and operating profit.@@@@1@13@@oe@2-2-2013
21757005@unknown@formal@none@1@S@The parent company's net included a loss -- which it didn't specify -- that was related to the company's 50% stake in Cineplex Odeon Corp.@@@@1@25@@oe@2-2-2013
21757006@unknown@formal@none@1@S@Cineplex, a Toronto theater chain, had a second-quarter net loss of $38.7 million.@@@@1@13@@oe@2-2-2013
21757007@unknown@formal@none@1@S@MCA said net also included certain reserves related to the restructuring of its LJN Toys' international operations.@@@@1@17@@oe@2-2-2013
21757008@unknown@formal@none@1@S@These items were partly offset, MCA said, by an unspecified gain on the sale of its Miller International unit, a maker and distributor of budget-priced audio cassettes.@@@@1@27@@oe@2-2-2013
21757009@unknown@formal@none@1@S@In New York Stock Exchange composite trading, MCA rose $1.50 to $64.@@@@1@12@@oe@2-2-2013
21757010@unknown@formal@none@1@S@In the nine months, net rose 35% to $120.1 million, or $1.64 a share, from $89.2 million, or $1.22 a share, a year earlier.@@@@1@24@@oe@2-2-2013
21757011@unknown@formal@none@1@S@Revenue increased 22% to $2.5 billion from $2.1 billion.@@@@1@9@@oe@2-2-2013
21758001@unknown@formal@none@1@S@Past Due Impasse@@@@1@3@@oe@2-2-2013
21758002@unknown@formal@none@1@S@I never pay my bills Till the very last day; I lose far less interest By proceeding that way.@@@@1@19@@oe@2-2-2013
21758003@unknown@formal@none@1@S@But it all evens out, It's so easy to see: Not till the last moment Am I paid what's due me.@@@@1@21@@oe@2-2-2013
21758004@unknown@formal@none@1@S@-- Arnold J. Zarett.@@@@1@4@@oe@2-2-2013
21758005@unknown@formal@none@1@S@Rex Tremendae@@@@1@2@@oe@2-2-2013
21758006@unknown@formal@none@1@S@The effete Tyrannosaurus Rex Had strict Cretaceous views on sex, And that is why you only see him Reproduced in the museum.@@@@1@22@@oe@2-2-2013
21758007@unknown@formal@none@1@S@-- Laurence W. Thomas.@@@@1@4@@oe@2-2-2013
21759001@unknown@formal@none@1@S@Helmsley Enterprises Inc. plans to close its company-owned insurance business and is seeking other brokers to take over its policies, according to individuals familiar with the New York firm.@@@@1@29@@oe@2-2-2013
21759002@unknown@formal@none@1@S@Helmsley Enterprises is the umbrella organization for companies controlled by Harry B. Helmsley.@@@@1@13@@oe@2-2-2013
21759003@unknown@formal@none@1@S@These include office and residential real estate giant, HelmsleySpear Inc., and Helmsley Hotels.@@@@1@13@@oe@2-2-2013
21759004@unknown@formal@none@1@S@The insurance brokerage agency, just a fragment of Helmsley's vast empire, would be the first piece of the company to be stripped away since last summer when Mr. Helmsley's wife, Leona Helmsley, was found guilty of tax evasion.@@@@1@38@@oe@2-2-2013
21759005@unknown@formal@none@1@S@Industry sources estimate the agency brokers property and casualty premiums worth about $25 million annually, and has revenue, based on a standard 10% commission rate, of about $2.5 million.@@@@1@29@@oe@2-2-2013
21759006@unknown@formal@none@1@S@The insurance firm acts as a broker on policies covering buildings managed by HelmsleySpear and others.@@@@1@16@@oe@2-2-2013
21759007@unknown@formal@none@1@S@Many of the properties are owned through limited partnerships controlled by Mr. Helmsley.@@@@1@13@@oe@2-2-2013
21759008@unknown@formal@none@1@S@New York State law prohibits insurance brokerages from deriving more than 10% of revenue from insuring affiliated companies.@@@@1@18@@oe@2-2-2013
21759009@unknown@formal@none@1@S@Helmsley's insurance division had slightly exceeded that percentage, sources say, but the division wasn't considered significant enough to the company to be restructured, particularly at a difficult time for the firm.@@@@1@31@@oe@2-2-2013
21759010@unknown@formal@none@1@S@Adverse publicity from the scandal surrounding its founder's wife and related management strife have put pressure on the entire Helmsley organization.@@@@1@21@@oe@2-2-2013
21759011@unknown@formal@none@1@S@However, individuals close to the company insist shuttering the insurance division, a sideline from the company's core property management business, isn't the beginning of a sale of assets.@@@@1@28@@oe@2-2-2013
21759012@unknown@formal@none@1@S@Helmsley's insurance premiums are expected to be transferred to several different insurance brokerage companies.@@@@1@14@@oe@2-2-2013
21759013@unknown@formal@none@1@S@Frank B. Hall Inc. of Briarcliff Manor, N.Y. is reportedly working out an agreement with Helmsley.@@@@1@16@@oe@2-2-2013
21759014@unknown@formal@none@1@S@Officials there declined to comment, as did Helmsley management.@@@@1@9@@oe@2-2-2013
21760001@unknown@formal@none@1@S@Outside the white-walled headquarters of the socalled Society of Orange Workers, all seems normal in South Africa's abnormal society.@@@@1@19@@oe@2-2-2013
21760002@unknown@formal@none@1@S@A pickup truck driven by a white farmer rumbles past with a load of black workers bouncing in the back.@@@@1@20@@oe@2-2-2013
21760003@unknown@formal@none@1@S@Over at Conradies, the general store, a black stock boy scurries to help an elderly white woman with her packages.@@@@1@20@@oe@2-2-2013
21760004@unknown@formal@none@1@S@Down the street, a car pulls into the Shell station and is surrounded by black attendants.@@@@1@16@@oe@2-2-2013
21760005@unknown@formal@none@1@S@But inside the white walls of the Orange Workers' office -- just about the largest building in town, save for the Dutch Reformed Church and the school -- South Africa's neat racial order is awry.@@@@1@35@@oe@2-2-2013
21760006@unknown@formal@none@1@S@A dozen white office workers fold newsletters and stuff them into envelopes.@@@@1@12@@oe@2-2-2013
21760007@unknown@formal@none@1@S@White women serve tea and coffee, and then wash the cups and saucers afterwards.@@@@1@14@@oe@2-2-2013
21760008@unknown@formal@none@1@S@White children empty the wastepaper baskets and squeegee the windows.@@@@1@10@@oe@2-2-2013
21760009@unknown@formal@none@1@S@There isn't a black worker in sight.@@@@1@7@@oe@2-2-2013
21760010@unknown@formal@none@1@S@Not in the kitchen, or the storeroom or the book shop.@@@@1@11@@oe@2-2-2013
21760011@unknown@formal@none@1@S@"If we want to have our own nation, then we must be willing to do all the work ourselves," says Hendrik Verwoerd Jr., son of the former prime minister and the leader of the Orange Workers, founded in 1980.@@@@1@39@@oe@2-2-2013
21760012@unknown@formal@none@1@S@They do indeed want their own nation.@@@@1@7@@oe@2-2-2013
21760013@unknown@formal@none@1@S@The pillars of apartheid may be trembling in the rest of South Africa, with Johannesburg opening its public facilities to all races, blacks storming the all-white beaches of the Cape and the government releasing seven leaders of the banned African National Congress.@@@@1@42@@oe@2-2-2013
21760014@unknown@formal@none@1@S@But here in Morgenzon, a sleepy town amid the corn fields of the eastern Transvaal, the Orange Workers are holding the pillars steady.@@@@1@23@@oe@2-2-2013
21760015@unknown@formal@none@1@S@The Orange Workers -- who take their name from William of Orange of the Netherlands, a hero of the Dutch-descended Afrikaners -- believe that the solution to South Africa's racial problems isn't the abolition of apartheid, it's the perfection of apartheid -- complete and total separation of the races.@@@@1@49@@oe@2-2-2013
21760016@unknown@formal@none@1@S@Here, then, is where the Orange Workers have come to make apartheid's last stand.@@@@1@14@@oe@2-2-2013
21760017@unknown@formal@none@1@S@Their idea is to create a city, first, and then an entire nation -- without blacks.@@@@1@16@@oe@2-2-2013
21760018@unknown@formal@none@1@S@This may seem to be a preposterous and utterly futile effort in Africa.@@@@1@13@@oe@2-2-2013
21760019@unknown@formal@none@1@S@And the fact that there are only 3,000 card-carrying Orange Workers may put them on the loony fringe.@@@@1@18@@oe@2-2-2013
21760020@unknown@formal@none@1@S@But their ideal of an Afrikaner homeland, an all-white reserve to be carved out of present-day South Africa, is a mainstream desire of the right-wing, which embraces about one-third of the country's five million whites.@@@@1@35@@oe@2-2-2013
21760021@unknown@formal@none@1@S@Afrikaner philosophers and theologians have long ruminated on the need for a white homeland.@@@@1@14@@oe@2-2-2013
21760022@unknown@formal@none@1@S@The Orange Workers are just putting this preaching into practice.@@@@1@10@@oe@2-2-2013
21760023@unknown@formal@none@1@S@Thus, farmer Johan Fischer, his T-shirt and jeans covered in grease, crawls around under his planter, tightening bolts and fixing dents.@@@@1@21@@oe@2-2-2013
21760024@unknown@formal@none@1@S@On almost every other farm in South Africa, black workers do the repairs.@@@@1@13@@oe@2-2-2013
21760025@unknown@formal@none@1@S@But not here.@@@@1@3@@oe@2-2-2013
21760026@unknown@formal@none@1@S@Mr. Fischer plows his own fields, sows his own corn and sunflowers, and feeds his own sheep.@@@@1@17@@oe@2-2-2013
21760027@unknown@formal@none@1@S@Over at the fiberglass factory, four white workers assemble water tanks on their own, and in their spare time they build townhouses across the road.@@@@1@25@@oe@2-2-2013
21760028@unknown@formal@none@1@S@On Main Street, Alida Verwoerd and her daughters look after the clothes and fabric shop, then hurry home to fix lunch for the rest of the family.@@@@1@27@@oe@2-2-2013
21760029@unknown@formal@none@1@S@Down by the stream, a group of Orange Workers puts the finishing touches on a golf course.@@@@1@17@@oe@2-2-2013
21760030@unknown@formal@none@1@S@If whites want to play there by themselves, says consulting engineer Willem van Heerden, whites should also build it by themselves.@@@@1@21@@oe@2-2-2013
21760031@unknown@formal@none@1@S@"If we want to survive as a people," he says, "we have to change our way of life.@@@@1@18@@oe@2-2-2013
21760032@unknown@formal@none@1@S@The Afrikaner must end his reliance on others."@@@@1@8@@oe@2-2-2013
21760033@unknown@formal@none@1@S@In their quest to perfect apartheid, the Orange Workers have discovered a truth that most of privileged white South Africa tries mightily to deny: The master can't become dependent on the slave and expect to remain master forever.@@@@1@38@@oe@2-2-2013
21760034@unknown@formal@none@1@S@"If apartheid means you want cheap black labor and all the comforts that go with it, but you also want to exclude the blacks from social and political integration, then these are two contradictions that can't go on forever," says Mr. Verwoerd.@@@@1@42@@oe@2-2-2013
21760035@unknown@formal@none@1@S@He is sitting in his living room, beneath a huge portrait of his late father, Hendrik F. Verwoerd, apartheid's architect and South African prime minister from 1958 to 1966.@@@@1@29@@oe@2-2-2013
21760036@unknown@formal@none@1@S@Somewhere, the son sighs, things went terribly wrong with apartheid; today, whites even rely on blacks to police their separation.@@@@1@20@@oe@2-2-2013
21760037@unknown@formal@none@1@S@"People took separate development as an opportunity to use black labor without ever getting rid of it.@@@@1@17@@oe@2-2-2013
21760038@unknown@formal@none@1@S@But my father meant it to mean real separation," says the son.@@@@1@12@@oe@2-2-2013
21760039@unknown@formal@none@1@S@The Orange Workers speak sincerely.@@@@1@5@@oe@2-2-2013
21760040@unknown@formal@none@1@S@"We agree with world opinion that the status quo in South Africa is morally wrong," says Pieter Bruwer, the Orange Workers' chief scribe and pamphleteer.@@@@1@25@@oe@2-2-2013
21760041@unknown@formal@none@1@S@"We must either integrate honestly or segregate honestly."@@@@1@8@@oe@2-2-2013
21760042@unknown@formal@none@1@S@Morgenzon has long been a special domain of Afrikanerdom.@@@@1@9@@oe@2-2-2013
21760043@unknown@formal@none@1@S@According to Mr. Verwoerd, the early Afrikaner pioneers were the first people to settle in the eastern Transvaal, even before the blacks.@@@@1@22@@oe@2-2-2013
21760044@unknown@formal@none@1@S@Then, when Morgenzon was incorporated in 1908, the farmer who owned the land stipulated that only whites could reside in town; blacks could work there, but they had to leave at night.@@@@1@32@@oe@2-2-2013
21760045@unknown@formal@none@1@S@Today, Morgenzon is a town of 800 whites and two paved roads.@@@@1@12@@oe@2-2-2013
21760046@unknown@formal@none@1@S@Weeds push up through the cracks in the sidewalks, and many houses and storefronts are empty.@@@@1@16@@oe@2-2-2013
21760047@unknown@formal@none@1@S@There are few factories and no mines.@@@@1@7@@oe@2-2-2013
21760048@unknown@formal@none@1@S@It was an ideal place for the Orange Workers to start their new nation, unencumbered by the demographics that have undermined apartheid elsewhere in South Africa.@@@@1@26@@oe@2-2-2013
21760049@unknown@formal@none@1@S@So far, about 150 Orange Workers have moved here, spending nearly $1 million buying up property over the past three years.@@@@1@21@@oe@2-2-2013
21760050@unknown@formal@none@1@S@Still, complete and total segregation remains elusive.@@@@1@7@@oe@2-2-2013
21760051@unknown@formal@none@1@S@Just beyond the city limits is a shantytown of 2,000 blacks who are employed throughout the area.@@@@1@17@@oe@2-2-2013
21760052@unknown@formal@none@1@S@Despite the Orange Workers' intention to put them all out of work, they are in no hurry to leave.@@@@1@19@@oe@2-2-2013
21760053@unknown@formal@none@1@S@A young man called July (that's when he was born), who works at the railroad station just up the street from the Orange Workers office, points at the whitewalled building and says matter-of-factly, "We're not allowed in there, that's all I know."@@@@1@42@@oe@2-2-2013
21760054@unknown@formal@none@1@S@The 650-or-so local whites who aren't Orange Workers are more troubled.@@@@1@11@@oe@2-2-2013
21760055@unknown@formal@none@1@S@Try as they might, they just can't conceive of life without black workers.@@@@1@13@@oe@2-2-2013
21760056@unknown@formal@none@1@S@"Impossible, impossible," say the Conradies, an elderly couple who have run the general store for decades.@@@@1@16@@oe@2-2-2013
21760057@unknown@formal@none@1@S@"We can't do without their help," says Mrs. Conradie.@@@@1@9@@oe@2-2-2013
21760058@unknown@formal@none@1@S@"Oh no.@@@@1@2@@oe@2-2-2013
21760059@unknown@formal@none@1@S@We need them and I thank God for them."@@@@1@9@@oe@2-2-2013
21760060@unknown@formal@none@1@S@Over at the Shell station, owner Rudi van Dyk, who doubles as Morgenzon's mayor, worries that the Orange Workers have made his town the laughingstock of the nation.@@@@1@28@@oe@2-2-2013
21760061@unknown@formal@none@1@S@"What they want us to do just isn't practical," he says, noting that he employs 16 blacks.@@@@1@17@@oe@2-2-2013
21760062@unknown@formal@none@1@S@"I couldn't afford to hire 16 whites.@@@@1@7@@oe@2-2-2013
21760063@unknown@formal@none@1@S@The only Afrikaners who would be willing to work for this salary wouldn't know how to handle money."@@@@1@18@@oe@2-2-2013
21760064@unknown@formal@none@1@S@Back at the Verwoerd house, Hendrik Sr. peers down over the shoulder of Hendrik Jr.@@@@1@15@@oe@2-2-2013
21760065@unknown@formal@none@1@S@The son believes that when the Afrikaners finally realize there is no turning back the integration of South African society and politics, Morgenzon will boom.@@@@1@25@@oe@2-2-2013
21760066@unknown@formal@none@1@S@"We urge our people not to wait until they have to fight for their own nation," says Mr. Verwoerd.@@@@1@19@@oe@2-2-2013
21760067@unknown@formal@none@1@S@"By populating a place now, we make ourselves a power any new government will have to take into account."@@@@1@19@@oe@2-2-2013
21760068@unknown@formal@none@1@S@Curiously, he compares the Orange Workers to the ANC, which his father outlawed in 1960.@@@@1@15@@oe@2-2-2013
21760069@unknown@formal@none@1@S@"The ANC won't be stopped until there is a provision for black aspirations," says Mr. Verwoerd.@@@@1@16@@oe@2-2-2013
21760070@unknown@formal@none@1@S@"Likewise, no government will stop this idea of the Afrikaners."@@@@1@10@@oe@2-2-2013
21760071@unknown@formal@none@1@S@He apologizes for sounding pushy.@@@@1@5@@oe@2-2-2013
21760072@unknown@formal@none@1@S@"Look," he says, "If the rest of South Africa wants to have an integrated melting pot, that's their choice.@@@@1@19@@oe@2-2-2013
21760073@unknown@formal@none@1@S@We'll leave them alone.@@@@1@4@@oe@2-2-2013
21760074@unknown@formal@none@1@S@We just want to have our own cup of tea."@@@@1@10@@oe@2-2-2013
21760075@unknown@formal@none@1@S@And they will even serve it themselves.@@@@1@7@@oe@2-2-2013
21761001@unknown@formal@none@1@S@Okay, now you can pick up that phone.@@@@1@8@@oe@2-2-2013
21761002@unknown@formal@none@1@S@But don't do anything rash.@@@@1@5@@oe@2-2-2013
21761003@unknown@formal@none@1@S@After last Friday's stock-market plunge, investment professionals cautioned people to resist the urge to call their brokers and sell stocks.@@@@1@20@@oe@2-2-2013
21761004@unknown@formal@none@1@S@Not selling into a panic turned out to be very good advice: Despite the market's volatility, the Dow Jones Industrial Average has surged 114 points in the past four days.@@@@1@30@@oe@2-2-2013
21761005@unknown@formal@none@1@S@Now, with a semblance of normalcy returning, some advisers say it's time for investors to take a hard, cold look at the stocks they own and consider some careful pruning.@@@@1@30@@oe@2-2-2013
21761006@unknown@formal@none@1@S@"The market is sending nervous signals," says Peter J. Canelo, chief market strategist for Bear, Stearns & Co., and it's "unwise" to be overcommitted to stocks.@@@@1@26@@oe@2-2-2013
21761007@unknown@formal@none@1@S@Alan Weston, president of Weston Capital Management, a Los Angeles money-management firm, adds that in periods of uncertainty like today, "it's a good time to cut out the dead branches of your portfolio."@@@@1@33@@oe@2-2-2013
21761008@unknown@formal@none@1@S@Not everybody agrees that it's time to trim.@@@@1@8@@oe@2-2-2013
21761009@unknown@formal@none@1@S@"We aren't inclined to prune stock portfolios now," says Steven G. Einhorn, chairman of the investment policy committee of Goldman, Sachs & Co.@@@@1@23@@oe@2-2-2013
21761010@unknown@formal@none@1@S@"Investors should stay with their stocks.@@@@1@6@@oe@2-2-2013
21761011@unknown@formal@none@1@S@We expect a choppy and sloppy market for a short period, but we don't think it will be ugly.@@@@1@19@@oe@2-2-2013
21761012@unknown@formal@none@1@S@The downside is limited."@@@@1@4@@oe@2-2-2013
21761013@unknown@formal@none@1@S@And even those who say some selective selling may be in order stress that individuals need to be in the stock market to achieve their long-term investment objectives and to help balance their other assets.@@@@1@35@@oe@2-2-2013
21761014@unknown@formal@none@1@S@Any selling, they say, should be well thought-out, and executed gradually, during market rallies.@@@@1@14@@oe@2-2-2013
21761015@unknown@formal@none@1@S@They offer these suggestions:@@@@1@4@@oe@2-2-2013
21761016@unknown@formal@none@1@S@GET RID OF THE DOGS.@@@@1@5@@oe@2-2-2013
21761017@unknown@formal@none@1@S@"Sell stocks that aren't doing well now, and that don't have good earnings prospects," says Alfred Goldman, technical analyst at St. Louis-based A.G. Edwards & Sons.@@@@1@26@@oe@2-2-2013
21761018@unknown@formal@none@1@S@"Most people do just the opposite: They sell their winners and keep their losers."@@@@1@14@@oe@2-2-2013
21761019@unknown@formal@none@1@S@Which types of stocks are most likely to qualify?@@@@1@9@@oe@2-2-2013
21761020@unknown@formal@none@1@S@Technology stocks, says Mr. Goldman.@@@@1@5@@oe@2-2-2013
21761021@unknown@formal@none@1@S@WATCH FOR EARNINGS DISAPPOINTMENTS.@@@@1@4@@oe@2-2-2013
21761022@unknown@formal@none@1@S@A company doesn't have to post a loss to be a candidate for sale, says Charles I. Clough Jr., chief market strategist at Merrill Lynch & Co.@@@@1@27@@oe@2-2-2013
21761023@unknown@formal@none@1@S@If earnings don't live up to analysts' expectations, he says, that's enough to dump the stock.@@@@1@16@@oe@2-2-2013
21761024@unknown@formal@none@1@S@John Markese, director of research for the American Association of Individual Investors, raises a cautionary note.@@@@1@16@@oe@2-2-2013
21761025@unknown@formal@none@1@S@"Substituting a rule of thumb for your own judgment" can be a mistake, he says.@@@@1@15@@oe@2-2-2013
21761026@unknown@formal@none@1@S@An earnings disappointment may reflect a situation that's short-term.@@@@1@9@@oe@2-2-2013
21761027@unknown@formal@none@1@S@But Mr. Clough says, "The risk is that earnings disappointments will continue."@@@@1@12@@oe@2-2-2013
21761028@unknown@formal@none@1@S@The economy is decelerating after six good years, and "right now it's better to shoot first and ask questions later."@@@@1@20@@oe@2-2-2013
21761029@unknown@formal@none@1@S@Which types of stocks currently have the greatest earnings risks?@@@@1@10@@oe@2-2-2013
21761030@unknown@formal@none@1@S@Computer companies; commodity cyclical stocks, like autos; and retailing stocks, he says.@@@@1@12@@oe@2-2-2013
21761031@unknown@formal@none@1@S@BEWARE OF HEAVY DEBT.@@@@1@4@@oe@2-2-2013
21761032@unknown@formal@none@1@S@The companies apt to run into earnings problems soonest are the ones with heavy debt loads, says Larry Biehl, partner in the San Mateo, Calif., money-management firm of Bailard, Biehl & Kaiser.@@@@1@32@@oe@2-2-2013
21761033@unknown@formal@none@1@S@Mr. Canelo of Bear Stearns agrees: "If we do have an economic slowdown," he says, "companies with high debt ratios will be dumped en masse."@@@@1@25@@oe@2-2-2013
21761034@unknown@formal@none@1@S@The best course for individual investors is to sell these stocks now, the two advisers say.@@@@1@16@@oe@2-2-2013
21761035@unknown@formal@none@1@S@SELL `WHISPER' STOCKS.@@@@1@3@@oe@2-2-2013
21761036@unknown@formal@none@1@S@UAL Corp.'s difficulty in obtaining bank financing for its leveraged buy-out and its resulting price plunge is a tip-off to what's going to happen to "takeover stocks," says Mr. Canelo.@@@@1@30@@oe@2-2-2013
21761037@unknown@formal@none@1@S@Takeover activity will slow down as more and more banks tighten their lending requirements, he says.@@@@1@16@@oe@2-2-2013
21761038@unknown@formal@none@1@S@"There'll be fewer and fewer deals."@@@@1@6@@oe@2-2-2013
21761039@unknown@formal@none@1@S@Moreover, many financial advisers say individuals should be in the stock market as long-term investors, not as traders trying to catch the next hot stock.@@@@1@25@@oe@2-2-2013
21761040@unknown@formal@none@1@S@In general, they say, avoid takeover stocks.@@@@1@7@@oe@2-2-2013
21761041@unknown@formal@none@1@S@COMPARE P/E RATIOS WITH PROSPECTS.@@@@1@5@@oe@2-2-2013
21761042@unknown@formal@none@1@S@Mr. Canelo suggests that investors compare price/earnings ratios (the price of a share of stock divided by a company's per-share earnings for a 12-month period) with projected growth rates.@@@@1@29@@oe@2-2-2013
21761043@unknown@formal@none@1@S@"If you think earnings will grow at 20% a year, it's all right to pay 20 times earnings," he says.@@@@1@20@@oe@2-2-2013
21761044@unknown@formal@none@1@S@"But don't pay 30 times earnings for a company that's expected to grow at 15% a year."@@@@1@17@@oe@2-2-2013
21761045@unknown@formal@none@1@S@Mr. Canelo thinks the market will probably go higher, but "will be ruthless with stocks if the earnings aren't there."@@@@1@20@@oe@2-2-2013
21761046@unknown@formal@none@1@S@Mr. Markese cautions that investors shouldn't slavishly follow any specific price/earnings sell trigger.@@@@1@13@@oe@2-2-2013
21761047@unknown@formal@none@1@S@"If you say sell anytime a company's price/earnings ratio exceeds 15, that knocks out all your growth stocks," he says.@@@@1@20@@oe@2-2-2013
21761048@unknown@formal@none@1@S@"You eliminate companies with substantial prospects that are moving up in price."@@@@1@12@@oe@2-2-2013
21761049@unknown@formal@none@1@S@EXAMINE WHAT HAS CHANGED.@@@@1@4@@oe@2-2-2013
21761050@unknown@formal@none@1@S@Tom Schlesinger, market analyst at A.G. Edwards & Sons Inc., says investors should consider selling if there has been a fundamental change in a company since they bought its stock.@@@@1@30@@oe@2-2-2013
21761051@unknown@formal@none@1@S@Say you purchased a stock because of a new product that was in the works.@@@@1@15@@oe@2-2-2013
21761052@unknown@formal@none@1@S@Now, because of various difficulties, the product has been scrapped.@@@@1@10@@oe@2-2-2013
21761053@unknown@formal@none@1@S@Time to sell, says Mr. Schlesinger.@@@@1@6@@oe@2-2-2013
21761054@unknown@formal@none@1@S@Similarly, he says, suppose you were attracted to a company because of expectations that sales would hit $200 million by 1990.@@@@1@21@@oe@2-2-2013
21761055@unknown@formal@none@1@S@If things haven't worked out that well, and sales won't hit $200 million until 1992, it's time to consider selling, he says.@@@@1@22@@oe@2-2-2013
21762001@unknown@formal@none@1@S@USX Corp. declined a United Steelworkers request for a reopening of its four-year labor contract that is due to expire Jan. 31, 1991.@@@@1@23@@oe@2-2-2013
21762002@unknown@formal@none@1@S@The union on Oct. 5 requested that the contract be reopened to restore all pay and benefits that the union gave up in the 1982-83 and 1986-87 rounds of bargaining.@@@@1@30@@oe@2-2-2013
21762003@unknown@formal@none@1@S@A United Steelworkers spokeman said Lynn Williams, the union's president, was out of town.@@@@1@14@@oe@2-2-2013
21762004@unknown@formal@none@1@S@The union won't respond to the USX statement until Mr. Williams has studied it, the spokesman said.@@@@1@17@@oe@2-2-2013
21763001@unknown@formal@none@1@S@Robert A. Oswald, chief financial officer and a director of this natural-gas pipeline company, was elected to the additional position of executive vice president.@@@@1@24@@oe@2-2-2013
21763002@unknown@formal@none@1@S@In addition, Michael W. O'Donnell, executive vice president of a Columbia unit, was named assistant chief financial officer and a senior vice president of the parent company.@@@@1@27@@oe@2-2-2013
21763003@unknown@formal@none@1@S@The appointments take effect Nov. 1.@@@@1@6@@oe@2-2-2013
21763004@unknown@formal@none@1@S@Both men are 44 years old.@@@@1@6@@oe@2-2-2013
21764001@unknown@formal@none@1@S@This magazine and book publisher said three men were elected directors, increasing the board to 10.@@@@1@16@@oe@2-2-2013
21764002@unknown@formal@none@1@S@They are: James R. Eiszner, 62 years old and chairman and chief executive officer of CPC International Inc.; Robert G. Schwartz, 61, chairman, president and chief executive officer of Metropolitan Life Insurance Co., and Walter V. Shipley, 53, chairman and chief executive officer of Chemical Banking Corp.@@@@1@47@@oe@2-2-2013
21765001@unknown@formal@none@1@S@BankAmerica Corp. reported a 34% jump in third-quarter earnings, as its rocket-like recovery from nearly ruinous losses several years ago continued to be fueled by growth in consumer loans, higher interest margins and negligible loan losses.@@@@1@36@@oe@2-2-2013
21765002@unknown@formal@none@1@S@For the quarter, BankAmerica said it earned $254 million, or $1.16 a share, compared with $190 million, or 97 cents a share, a year earlier.@@@@1@25@@oe@2-2-2013
21765003@unknown@formal@none@1@S@BankAmerica spokesmen said preliminary reports indicate the company wasn't materially affected by the Tuesday earthquake.@@@@1@15@@oe@2-2-2013
21765004@unknown@formal@none@1@S@All but eight of the 850 branches, which had some structural damage, reopened yesterday for business.@@@@1@16@@oe@2-2-2013
21765005@unknown@formal@none@1@S@Automated teller machine operations also were up and operating yesterday, a bank spokesman said.@@@@1@14@@oe@2-2-2013
21765006@unknown@formal@none@1@S@For the first time in nearly two years, BankAmerica results failed to improve in consecutive quarters, but the decline from the second quarter was attributable to special factors.@@@@1@28@@oe@2-2-2013
21765007@unknown@formal@none@1@S@Third-quarter profit was 16% below the $304 million, or $1.50 a share, earned in the 1989 second quarter.@@@@1@18@@oe@2-2-2013
21765008@unknown@formal@none@1@S@The company cited higher tax credits in the second quarter, totaling $63 million, compared with $28 million in the third quarter.@@@@1@21@@oe@2-2-2013
21765009@unknown@formal@none@1@S@Excluding tax credits, profit was 6% below the second quarter.@@@@1@10@@oe@2-2-2013
21765010@unknown@formal@none@1@S@But that drop was caused entirely by a decline in Brazilian interest paid, to $5 million from $54 million the second quarter.@@@@1@22@@oe@2-2-2013
21765011@unknown@formal@none@1@S@Moreover, BankAmerica continued to build its reserve against troubled foreign loans by boosting its loan-loss provision to $170 million, about the same as the previous quarter but well above the $100 million in the year-earlier quarter.@@@@1@36@@oe@2-2-2013
21765012@unknown@formal@none@1@S@The provision rate was far above BankAmerica's actual net credit losses of $24 million in the third quarter, compared with $18 million in the second period and $38 million a year earlier.@@@@1@32@@oe@2-2-2013
21765013@unknown@formal@none@1@S@As a result, BankAmerica said its reserve against troubled foreign-country loans, once below 25%, now amounts to 45% of the $6.4 billion of non-trade debt it calculates it is owed by those nations.@@@@1@33@@oe@2-2-2013
21765014@unknown@formal@none@1@S@That level is about the same as some other big banks, but far below the 85% and 100% reserves of Bankers Trust New York Corp. and J.P. Morgan & Co., respectively.@@@@1@31@@oe@2-2-2013
21765015@unknown@formal@none@1@S@By any measure, third-quarter earnings were still robust, equivalent to a 0.92% return on assets even excluding tax credits.@@@@1@19@@oe@2-2-2013
21765016@unknown@formal@none@1@S@By that key measure of operating efficiency, BankAmerica turned in a better performance than its well-regarded Los Angeles-based competitor, Security Pacific Corp., which posted a 0.89% return in the third quarter.@@@@1@31@@oe@2-2-2013
21765017@unknown@formal@none@1@S@But it continued to badly trail its San Francisco neighbor, Wells Fargo & Co., which reported an extraordinary 1.25% return on assets.@@@@1@22@@oe@2-2-2013
21765018@unknown@formal@none@1@S@Both returns don't include any tax credits.@@@@1@7@@oe@2-2-2013
21765019@unknown@formal@none@1@S@"They {BankAmerica} continue to show good performance," said Donald K. Crowley, an analyst with Keefe, Bruyette & Woods Inc., San Francisco.@@@@1@21@@oe@2-2-2013
21765020@unknown@formal@none@1@S@In composite trading yesterday on the New York Stock Exchange, BankAmerica common stock edged up 12.5 cents to close at $32 a share.@@@@1@23@@oe@2-2-2013
21765021@unknown@formal@none@1@S@Shareholder equity improved to 4.68% from 4.23% in the previous quarter.@@@@1@11@@oe@2-2-2013
21765022@unknown@formal@none@1@S@The 4.52% net interest margin, or the difference between the yield on a bank's investments and the rate it pays for deposits and other borrowings, was still markedly higher than the 3.91% ratio a year earlier, and is among the best in the industry, analysts said.@@@@1@46@@oe@2-2-2013
21765023@unknown@formal@none@1@S@The high margin partly stems from continued strong growth in high-yielding consumer loans, which jumped 31% to $17.47 billion from a year earlier, and residential mortgages, which rose 25% to $12 billion.@@@@1@32@@oe@2-2-2013
21765024@unknown@formal@none@1@S@BankAmerica's total loans rose 8% to $71.36 billion.@@@@1@8@@oe@2-2-2013
21765025@unknown@formal@none@1@S@For the nine months, BankAmerica profit soared 81% to $833 million, or $4.07 a share, from $461 million, or $2.40 a share.@@@@1@22@@oe@2-2-2013
21766001@unknown@formal@none@1@S@International Business Machines Corp. will announce on Tuesday a slew of software products aimed at eliminating some of the major problems involved in computerizing manufacturing operations, industry executives said.@@@@1@29@@oe@2-2-2013
21766002@unknown@formal@none@1@S@Many plant floors currently resemble a Tower of Babel, with computers, robots and machine tools that generally speak their own language and have trouble talking to each other.@@@@1@28@@oe@2-2-2013
21766003@unknown@formal@none@1@S@As a result, if a problem develops on a production line, it is unlikely some supervisor sitting in front of a personal computer or workstation will know about it or be able to correct it.@@@@1@35@@oe@2-2-2013
21766004@unknown@formal@none@1@S@So IBM will be announcing more than 50 products that will be aimed at letting even the dumbest machine tool talk to the smartest mainframe, or anything in between.@@@@1@29@@oe@2-2-2013
21766005@unknown@formal@none@1@S@In an unusual display of openness, IBM also will be helping customers tie together operations that include lots of equipment made by IBM's competitors.@@@@1@24@@oe@2-2-2013
21766006@unknown@formal@none@1@S@In addition, the executives said IBM will be offering programming tools designed to let anyone working on a factory floor write ad-hoc software, for instance, to do statistical analysis that would pinpoint a problem on a manufacturing line.@@@@1@38@@oe@2-2-2013
21766007@unknown@formal@none@1@S@In Armonk, N.Y., an IBM spokeswoman confirmed that IBM executives will be announcing some computer-integrated-manufacturing plans next week but declined to elaborate.@@@@1@22@@oe@2-2-2013
21766008@unknown@formal@none@1@S@The industry executives said that, as usual with such broad announcements from IBM, this one will be part reality and part strategy.@@@@1@22@@oe@2-2-2013
21766009@unknown@formal@none@1@S@So it will take many quarters for IBM to roll out all the products that customers need, and it will take years for customers to integrate the products into their operations.@@@@1@31@@oe@2-2-2013
21766010@unknown@formal@none@1@S@Also as usual, the products will appeal mostly to heavy users of IBM equipment, at least initially.@@@@1@17@@oe@2-2-2013
21766011@unknown@formal@none@1@S@Still, consultants and industry executives said the products could help make manufacturing operations more efficient, and provide a boost to the computer-integrated-manufacturing market -- a market that Yankee Group, a research firm, has said may double to $40 billion by 1993.@@@@1@41@@oe@2-2-2013
21766012@unknown@formal@none@1@S@"This is a step in the right direction," said Martin Piszczalski, a Yankee Group analyst.@@@@1@15@@oe@2-2-2013
21766013@unknown@formal@none@1@S@He added, though, that "a lot of this is intentions. . . .@@@@1@13@@oe@2-2-2013
21766014@unknown@formal@none@1@S@We'll have to wait and see" how the plan develops.@@@@1@10@@oe@2-2-2013
21766015@unknown@formal@none@1@S@The announcements also should help IBM go on the offensive against Digital Equipment Corp. on the plant floor.@@@@1@18@@oe@2-2-2013
21766016@unknown@formal@none@1@S@While IBM has traditionally dominated the market for computers on the business side of manufacturing operations and has done well in the market for design tools, Digital has dominated computerized manufacturing.@@@@1@31@@oe@2-2-2013
21766017@unknown@formal@none@1@S@Hewlett-Packard Co. also has begun to gain share in the whole computer-integrated-manufacturing arena.@@@@1@13@@oe@2-2-2013
21766018@unknown@formal@none@1@S@IBM will face an uphill climb against Digital, given Digital's reputation for being better than IBM at hooking together different manufacturers' computers.@@@@1@22@@oe@2-2-2013
21766019@unknown@formal@none@1@S@In addition, Hewlett-Packard, while a much smaller player, has made a big commitment to the sorts of industry standards that facilitate those hookups and could give IBM some problems.@@@@1@29@@oe@2-2-2013
21766020@unknown@formal@none@1@S@Both can be expected to go after the market aggressively: Gartner Group Inc., a research firm, estimated the Digital gets 30% of its revenue from the manufacturing market, and Hewlett-Packard gets 50%.@@@@1@32@@oe@2-2-2013
21766021@unknown@formal@none@1@S@IBM, which Gartner Group said generates 22% of its revenue in this market, should be able to take advantage of its loyal following among buyers of equipment.@@@@1@27@@oe@2-2-2013
21766022@unknown@formal@none@1@S@That is because many companies will standardize on certain types of equipment as the various parts of the manufacturing market merge, and IBM is the biggest player.@@@@1@27@@oe@2-2-2013
21766023@unknown@formal@none@1@S@But much will depend on how quickly IBM can move.@@@@1@10@@oe@2-2-2013
21766024@unknown@formal@none@1@S@The whole idea of computer-integrated manufacturing, CIM, seems to be making a comeback after losing a little luster over the past couple of years when it became apparent that it wasn't a panacea that would make U.S. plants more efficient and banish foreign competition.@@@@1@44@@oe@2-2-2013
21766025@unknown@formal@none@1@S@Erik Keller, a Gartner Group analyst, said organizational changes may still be required to really take advantage of CIM's capabilities -- someone on the shop floor may not like having someone in an office using a personal computer to look over his shoulder, for instance, and may be able to prevent that from happening.@@@@1@54@@oe@2-2-2013
21766026@unknown@formal@none@1@S@But he said a system such as IBM's should help significantly.@@@@1@11@@oe@2-2-2013
21766027@unknown@formal@none@1@S@In making polyethylene sheets out of plastic chips, for instance, a chip sometimes doesn't melt, gets caught in the machinery and creates a run in the sheets.@@@@1@27@@oe@2-2-2013
21766028@unknown@formal@none@1@S@That can be expensive, because the problem may not be noticed for a while, and the sheets are typically thrown away.@@@@1@21@@oe@2-2-2013
21766029@unknown@formal@none@1@S@But Mr. Keller said that, if computers can be integrated into the process, they could alert an operator as soon as the problem occurred.@@@@1@24@@oe@2-2-2013
21766030@unknown@formal@none@1@S@They could also check through the orders on file to find a customer that was willing to accept a lower grade of polyethylene.@@@@1@23@@oe@2-2-2013
21766031@unknown@formal@none@1@S@The computer would let the machine run just until that order was filled, eliminating waste.@@@@1@15@@oe@2-2-2013
21766032@unknown@formal@none@1@S@This sort of improved link figures to eventually become a significant weapon for some companies.@@@@1@15@@oe@2-2-2013
21766033@unknown@formal@none@1@S@Companies might be able to tell salespeople daily, for instance, about idle equipment, so they could offer discounts on whatever that equipment produces.@@@@1@23@@oe@2-2-2013
21766034@unknown@formal@none@1@S@Salespeople also could get a precise reading on when products could be delivered -- in much the same way that Federal Express has marketed its ability to tell exactly where a package is in the delivery system.@@@@1@37@@oe@2-2-2013
21767001@unknown@formal@none@1@S@Ford Motor Co.'s Merkur, the company's first new car franchise in the U.S. since the Edsel was unveiled in 1957, now will share Edsel's fate.@@@@1@25@@oe@2-2-2013
21767002@unknown@formal@none@1@S@Ford said yesterday it will halt imports of the Merkur Scorpio, a $28,000 luxury sedan built by Ford of Europe in West Germany.@@@@1@23@@oe@2-2-2013
21767003@unknown@formal@none@1@S@The cars are sold under a separate franchise with its own sign in front of Lincoln-Mercury dealers -- as opposed to new models such as Taurus or Escort, which are sold under existing Ford divisions.@@@@1@35@@oe@2-2-2013
21767004@unknown@formal@none@1@S@The move to halt imports -- announced 29 years and 11 months to the day after Henry Ford II declared that the Edsel division and its gawky car would be scrapped -- kills the four-year-old Merkur brand in the U.S. market.@@@@1@41@@oe@2-2-2013
21767005@unknown@formal@none@1@S@It will continue to be sold in the European market.@@@@1@10@@oe@2-2-2013
21767006@unknown@formal@none@1@S@Merkur's death isn't nearly as costly to Ford as was the Edsel debacle, because Merkur was a relatively low-budget project with limited sales goals.@@@@1@24@@oe@2-2-2013
21767007@unknown@formal@none@1@S@Still, Merkur's demise is a setback for Ford at a time when the company's image as the U.S. auto maker with the golden touch is showing signs of strain.@@@@1@29@@oe@2-2-2013
21767008@unknown@formal@none@1@S@The No. 2 auto maker's new Thunderbird and Mercury Cougar models haven't met sales expectations in the year since they were introduced, and Ford's trucks are losing ground to their GM rivals.@@@@1@32@@oe@2-2-2013
21767009@unknown@formal@none@1@S@This fall, Ford introduced only one new product: A restyled version of its hulking Lincoln Town Car luxury model.@@@@1@19@@oe@2-2-2013
21767010@unknown@formal@none@1@S@The demise of Merkur (pronounced mare-COOR) comes after a September in which 670 Merkur dealers managed to sell only 93 Scorpios.@@@@1@21@@oe@2-2-2013
21767011@unknown@formal@none@1@S@Total Merkur sales for the first nine months dropped 46% from a year ago to just 6,320 cars.@@@@1@18@@oe@2-2-2013
21767012@unknown@formal@none@1@S@Merkur isn't the only European luxury brand having problems in the U.S.@@@@1@12@@oe@2-2-2013
21767013@unknown@formal@none@1@S@The Japanese assault on the luxury market is rapidly overshadowing such European makes as Audi and Saab, which at least have clear brand images.@@@@1@24@@oe@2-2-2013
21767014@unknown@formal@none@1@S@Merkur, as an import on domestic car lots, suffered from the same sort of image confusion that is hobbling sales of imports at General Motors Corp. and Chrysler Corp.@@@@1@29@@oe@2-2-2013
21767015@unknown@formal@none@1@S@Merkur was originally aimed at enticing into Lincoln-Mercury dealerships the kind of young, affluent buyers who wouldn't be caught dead in a Town Car -- a vehicle so bargelike that Ford is staging a press event next month linking the Town Car's launch to the commissioning of a new aircraft carrier in Norfolk, Va.@@@@1@54@@oe@2-2-2013
21767016@unknown@formal@none@1@S@But the brand had trouble from the start.@@@@1@8@@oe@2-2-2013
21767017@unknown@formal@none@1@S@The first Merkur, the XR4Ti, went on sale in early 1985.@@@@1@11@@oe@2-2-2013
21767018@unknown@formal@none@1@S@The sporty coupe foundered in part because American buyers didn't go for the car's unusual double-wing rear spoiler.@@@@1@18@@oe@2-2-2013
21767019@unknown@formal@none@1@S@In May 1987, Ford began importing the Scorpio sedan from West Germany to sell next to a redesigned XR4Ti in showrooms.@@@@1@21@@oe@2-2-2013
21767020@unknown@formal@none@1@S@Ford officials said they expected the two Merkurs would sell about 15,000 cars a year, and in 1988 they reached that goal, as sales hit 15,261 cars.@@@@1@27@@oe@2-2-2013
21767021@unknown@formal@none@1@S@It was downhill from there, however.@@@@1@6@@oe@2-2-2013
21767022@unknown@formal@none@1@S@One major factor was the decline of the dollar against the mark, which began less than a year after Merkur's 1985 launch.@@@@1@22@@oe@2-2-2013
21767023@unknown@formal@none@1@S@As the West German currency rose, so did Merkur prices.@@@@1@10@@oe@2-2-2013
21767024@unknown@formal@none@1@S@The Merkur cars also suffered from spotty quality, some dealers say.@@@@1@11@@oe@2-2-2013
21767025@unknown@formal@none@1@S@"It was like a comedy of errors," says Martin J. "Hoot" McInerney, a big dealer whose Star Lincoln-Mercury-Merkur operation in Southfield, Mich., sold more XR4Ti's than any other dealership.@@@@1@29@@oe@2-2-2013
21767026@unknown@formal@none@1@S@But by the third quarter of 1988, Scorpios had a high satisfaction rating in internal Ford studies, a spokesman said.@@@@1@20@@oe@2-2-2013
21767027@unknown@formal@none@1@S@Apparently, however, the improvement came too late.@@@@1@7@@oe@2-2-2013
21767028@unknown@formal@none@1@S@Last fall, Ford announced it would discontinue the XR4Ti in the U.S. at the end of the 1989 model year.@@@@1@20@@oe@2-2-2013
21767029@unknown@formal@none@1@S@Ford said then it would keep the Scorpio.@@@@1@8@@oe@2-2-2013
21767030@unknown@formal@none@1@S@This year, Scorpio sales plummeted, and at the current sales pace it would take Ford 242 days to sell off the current Scorpio inventory of about 4,600 cars.@@@@1@28@@oe@2-2-2013
21768001@unknown@formal@none@1@S@Canadian Pacific Ltd. said it proposed acquiring the 44% of Soo Line Corp. it doesn't already own for $19.50 a share, or about $81.9 million, after failing to find a buyer for its majority stake earlier this year.@@@@1@38@@oe@2-2-2013
21768002@unknown@formal@none@1@S@Soo Line said its board appointed a special committee of independent directors to study the proposal.@@@@1@16@@oe@2-2-2013
21768003@unknown@formal@none@1@S@The troubled Minneapolis-based railroad concern said the committee has the authority to hire financial and legal advisers to assist it.@@@@1@20@@oe@2-2-2013
21768004@unknown@formal@none@1@S@The proposed acquisition will be subject to approval by the Interstate Commerce Commission, Soo Line said.@@@@1@16@@oe@2-2-2013
21768005@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Soo Line shares jumped well above the proposed price, closing at $20.25, up $2.75.@@@@1@22@@oe@2-2-2013
21768006@unknown@formal@none@1@S@Canadian Pacific put its 56% stake in Soo Line up for sale last year but couldn't find any takers.@@@@1@19@@oe@2-2-2013
21768007@unknown@formal@none@1@S@Canadian Pacific, which has interests in transportation, telecommunications, forest products, energy and real estate, finally took its majority block off the market this spring.@@@@1@24@@oe@2-2-2013
21768008@unknown@formal@none@1@S@"It turned out we couldn't sell it," a Canadian Pacific official said, adding that acquiring the remainder of Soo Line is now "the best way to rationalize operations."@@@@1@28@@oe@2-2-2013
21768009@unknown@formal@none@1@S@Canadian Pacific is Soo Line's biggest customer and has owned a majority stake in the U.S. railroad since 1947.@@@@1@19@@oe@2-2-2013
21768010@unknown@formal@none@1@S@Canadian Pacific and Soo Line tracks connect at two points in the West on the Canada-U.S. border and the two companies operate a very successful Chicago-Montreal rail service.@@@@1@28@@oe@2-2-2013
21768011@unknown@formal@none@1@S@Separately, for the first nine months, Soo Line reported a loss of $398,000, or four cents a share, compared with net income of $12.5 million, or $1.32 a share, a year earlier.@@@@1@32@@oe@2-2-2013
21768012@unknown@formal@none@1@S@Revenue fell 5.8% to $407.9 million from $433.2 million.@@@@1@9@@oe@2-2-2013
21768013@unknown@formal@none@1@S@The company had a loss from operations of $1.7 million.@@@@1@10@@oe@2-2-2013
21769001@unknown@formal@none@1@S@Golden Nugget Inc. reported a third-quarter net loss of $13.1 million, or 76 cents a share, based on 17.2 million common shares and dilutive equivalents outstanding.@@@@1@26@@oe@2-2-2013
21769002@unknown@formal@none@1@S@The results compare with a year-earlier net loss of $1.5 million, or seven cents a share, based on 20.3 million common and dilutive equivalents outstanding.@@@@1@25@@oe@2-2-2013
21769003@unknown@formal@none@1@S@Operating revenue rose 25% to $52.1 million from $41.8 million a year ago.@@@@1@13@@oe@2-2-2013
21769004@unknown@formal@none@1@S@Results for the latest quarter include nonoperating items of $23.9 million, versus $8.4 million a year earlier.@@@@1@17@@oe@2-2-2013
21769005@unknown@formal@none@1@S@Most of the expenses stem from the company's huge Mirage resort-casino scheduled to open next month along the Strip, and an April 1989 financing by units operating the downtown Golden Nugget property.@@@@1@32@@oe@2-2-2013
21769006@unknown@formal@none@1@S@For the nine months, Golden Nugget reported a net loss of $11.4 million, or 69 cents a share, based on 16.6 million common and dilutive equivalents outstanding.@@@@1@27@@oe@2-2-2013
21769007@unknown@formal@none@1@S@The year earlier, the company had a net loss of $4.3 million, or 20 cents a share, based on 21 million common shares and dilutive equivalents outstanding.@@@@1@27@@oe@2-2-2013
21769008@unknown@formal@none@1@S@The 1988 results include a $10.7 million charge stemming from a litigation judgment.@@@@1@13@@oe@2-2-2013
21769009@unknown@formal@none@1@S@Separately, the casino operator said its board approved a plan to buy-back as many as three million common shares from time to time, either in the open market or through private transactions.@@@@1@32@@oe@2-2-2013
21769010@unknown@formal@none@1@S@An additional 299,000 shares are authorized for repurchase under an earlier stock buy-back program.@@@@1@14@@oe@2-2-2013
21769011@unknown@formal@none@1@S@John Uphoff, an analyst with Raymond James & Associates, said the results weren't surprising, and attributed the buy-back to management's confidence in the Mirage's ability to generate strong cash flow in 1990.@@@@1@32@@oe@2-2-2013
21769012@unknown@formal@none@1@S@Yesterday, in New York Stock Exchange composite trading, Golden Nugget common closed at $28.25, up $2.@@@@1@16@@oe@2-2-2013
21770001@unknown@formal@none@1@S@Capital Holding Corp. said it requested and received the resignation of John A. Franco, its vice chairman, as an officer and a director of the life insurance holding company.@@@@1@29@@oe@2-2-2013
21770002@unknown@formal@none@1@S@The company said Mr. Franco developed a plan to establish a business that might be competitive with Capital Holding Corp.'s Accumulation and Investment Group, which Mr. Franco headed.@@@@1@28@@oe@2-2-2013
21770003@unknown@formal@none@1@S@The group temporarily will report to Irving W. Bailey II, chairman, president and chief executive officer of Capital Holding.@@@@1@19@@oe@2-2-2013
21770004@unknown@formal@none@1@S@Mr. Franco, 47 years old, said in a telephone interview that he has been considering and discussing a number of possible business ventures, but that "nothing is at a mature stage."@@@@1@31@@oe@2-2-2013
21770005@unknown@formal@none@1@S@He said he "didn't argue with" the company's decision to seek his resignation because contemplating outside business ventures can distract an executive from performing his best "at the job he is paid to do."@@@@1@34@@oe@2-2-2013
21770006@unknown@formal@none@1@S@Martin H. Ruby, a managing director of Capital Holding's Accumulation and Investment Group, also resigned to pursue other business interests, Capital Holding said.@@@@1@23@@oe@2-2-2013
21770007@unknown@formal@none@1@S@Mr. Ruby, 39, said that he had "an amicable parting" with Capital Holding and that he has "a number of ventures in the financial-services area" under consideration.@@@@1@27@@oe@2-2-2013
21770008@unknown@formal@none@1@S@He said that his resignation was a mutual decision with Capital Holding management, but that he wasn't actually asked to resign.@@@@1@21@@oe@2-2-2013
21770009@unknown@formal@none@1@S@The Accumulation and Investment Group is responsible for the investment operations of all Capital Holding's insurance businesses and markets guaranteed investment contracts to bank trust departments and other institutions.@@@@1@29@@oe@2-2-2013
21770010@unknown@formal@none@1@S@It also sells single-premium annuities to individuals.@@@@1@7@@oe@2-2-2013
21770011@unknown@formal@none@1@S@Mr. Bailey said he expects to name a new group president to head that operation following the Nov. 8 board meeting.@@@@1@21@@oe@2-2-2013
21771001@unknown@formal@none@1@S@\s@@@@1@1@@oe@2-2-2013
21771002@unknown@formal@none@1@S@Money Market Deposits-a 6.23%@@@@1@4@@oe@2-2-2013
21771003@unknown@formal@none@1@S@a-Average rate paid yesterday by 100 large banks and thrifts in the 10 largest metropolitan areas as compiled by Bank Rate Monitor.@@@@1@22@@oe@2-2-2013
21771004@unknown@formal@none@1@S@b-Current annual yield.@@@@1@3@@oe@2-2-2013
21771005@unknown@formal@none@1@S@Guaranteed minimum 6%.@@@@1@3@@oe@2-2-2013
21772001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
21772002@unknown@formal@none@1@S@PLASTIC PENCILS, CODE-NAMED E-71, made their hush-hush debut in children's pencil boxes at five-and-dime stores in 1973.@@@@1@17@@oe@2-2-2013
21772003@unknown@formal@none@1@S@But few knew it then and most still think all pencils are wooden.@@@@1@13@@oe@2-2-2013
21772004@unknown@formal@none@1@S@Eagle Pencil of Shelbyville, Tenn., "Pencil City U.S.A.," had made its earliest pilot plastic pencils in 1971.@@@@1@17@@oe@2-2-2013
21772005@unknown@formal@none@1@S@But it wasn't until after it hired Arthur D. Little, a Cambridge, Mass., research concern, that its new product was refined for commercial sale in 1973.@@@@1@26@@oe@2-2-2013
21772006@unknown@formal@none@1@S@Three A.D.L. inventors applied April 6, 1973, for the patent, which was assigned and awarded in 1976 to Hasbro Industries, then Eagle's parent.@@@@1@23@@oe@2-2-2013
21772007@unknown@formal@none@1@S@Pencil pushers chew and put the plastic models behind their ears just like traditional pencils made of glued strips of California incense cedar filled with ceramic lead.@@@@1@27@@oe@2-2-2013
21772008@unknown@formal@none@1@S@It takes five steps to make standard pencils, just one for the plastic type.@@@@1@14@@oe@2-2-2013
21772009@unknown@formal@none@1@S@Automated machines coextrude long plastic sheaths with graphite-plastic cores that are printed, cut, painted and eraser-fitted.@@@@1@16@@oe@2-2-2013
21772010@unknown@formal@none@1@S@"After more than 200 years, something new has happened to pencils," said Arthur D. Little in a 1974 report that publicly described the previously secret item.@@@@1@26@@oe@2-2-2013
21772011@unknown@formal@none@1@S@Eagle's plastic type sharpens and looks like a wooden pencil.@@@@1@10@@oe@2-2-2013
21772012@unknown@formal@none@1@S@A major difference is that a snapped wooden pencil will have a slivered break while a plastic model will break cleanly.@@@@1@21@@oe@2-2-2013
21772013@unknown@formal@none@1@S@The softness of the core constrains the plastic models to No. 1, No. 2 or No. 3-type pencils, which account for the bulk of the market.@@@@1@26@@oe@2-2-2013
21772014@unknown@formal@none@1@S@Artists and draftsmen need harder "leads."@@@@1@6@@oe@2-2-2013
21772015@unknown@formal@none@1@S@Eagle, now called Eagle-Berol, remains a leading company among the 10 in the U.S. that produced about 2.3 billion pencils last year, according to the Pencil Makers Association.@@@@1@28@@oe@2-2-2013
21772016@unknown@formal@none@1@S@It's a trade secret how many were plastic, and most writers still don't know what they're using.@@@@1@17@@oe@2-2-2013
21773001@unknown@formal@none@1@S@H.F. Ahmanson & Co., the nation's largest thrift holding company, posted a 12% earnings decline for the third quarter while another large California savings and loan, Great Western Financial Corp., reported a slight earnings gain.@@@@1@35@@oe@2-2-2013
21773002@unknown@formal@none@1@S@H.F. Ahmanson, parent of Home Savings of America, reported third-quarter net of $49.2 million, or 50 cents a share, down from $56.1 million, or 57 cents a share, in the year-earlier period.@@@@1@32@@oe@2-2-2013
21773003@unknown@formal@none@1@S@Most of the earnings decline reflected an increase in the company's effective tax rate to 44% from 37% in the year-ago third quarter when nonrecurring tax credits were recorded, the company said.@@@@1@32@@oe@2-2-2013
21773004@unknown@formal@none@1@S@Pretax earnings declined 1.3%.@@@@1@4@@oe@2-2-2013
21773005@unknown@formal@none@1@S@For the nine months, Los Angeles-based H. F. Ahmanson had profit of $128.1 million, or $1.29 a share, a 4.6% decline from earnings of $134.2 million in the year-ago nine months.@@@@1@31@@oe@2-2-2013
21773006@unknown@formal@none@1@S@The company said the decline was attributable to a 79% reduction in net gains on loan sales this year.@@@@1@19@@oe@2-2-2013
21773007@unknown@formal@none@1@S@Third-quarter spreads widened to the highest level in two years as loan portfolio yields rose and money costs declined, the company said.@@@@1@22@@oe@2-2-2013
21773008@unknown@formal@none@1@S@Great Western Financial said third-quarter profit rose slightly to $68.4 million, or 52 cents a share, from $67.9 million, or 53 cents a share, from a year ago.@@@@1@28@@oe@2-2-2013
21773009@unknown@formal@none@1@S@Great Western, based in Beverly Hills, Calif., is a financial services firm and parent to Great Western Bank, an S&L.@@@@1@20@@oe@2-2-2013
21773010@unknown@formal@none@1@S@Great Western said it had a sharp increase in margins in the recent third quarter.@@@@1@15@@oe@2-2-2013
21773011@unknown@formal@none@1@S@Margins are the difference between the yield on the company's earning assets and its own cost of funds.@@@@1@18@@oe@2-2-2013
21773012@unknown@formal@none@1@S@But a reduction in one-time gains on the sale of various assets and an increase in the company's provision for loan losses held down the earnings gain, the company said.@@@@1@30@@oe@2-2-2013
21773013@unknown@formal@none@1@S@Great Western's provision for loan losses was increased to $27.9 million for the recent quarter compared with $21.8 million a year ago primarily as a result of "continued weakness in various commercial and multifamily real estate markets outside California."@@@@1@39@@oe@2-2-2013
21773014@unknown@formal@none@1@S@For the nine months Great Western posted net of $177.5 million, or $1.37 a share, a 5.9% decline from $188.7 million, or $1.48 a share, in the year-ago period.@@@@1@29@@oe@2-2-2013
21774001@unknown@formal@none@1@S@Dun & Bradstreet Corp. posted a 15% rise in third-quarter earnings.@@@@1@11@@oe@2-2-2013
21774002@unknown@formal@none@1@S@But revenue declined more than 2%, reflecting in part a continuing drop in sales of credit services in the wake of controversy over the company's sales practices.@@@@1@27@@oe@2-2-2013
21774003@unknown@formal@none@1@S@The information company also cited the stronger dollar, the sale last year of its former Official Airline Guides unit and other factors.@@@@1@22@@oe@2-2-2013
21774004@unknown@formal@none@1@S@Net income rose to a record $155.3 million, or 83 cents a share, from $134.8 million, or 72 cents a share.@@@@1@21@@oe@2-2-2013
21774005@unknown@formal@none@1@S@Revenue fell to $1.04 billion from $1.07 billion.@@@@1@8@@oe@2-2-2013
21774006@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Dun & Bradstreet closed yesterday at $53.75, down 25 cents a share.@@@@1@21@@oe@2-2-2013
21774007@unknown@formal@none@1@S@Analysts said the results were as expected, but several added that the earnings masked underlying weaknesses in several businesses.@@@@1@19@@oe@2-2-2013
21774008@unknown@formal@none@1@S@"The quality of earnings wasn't as high as I expected," said Eric Philo, an analyst for Goldman, Sachs & Co.@@@@1@20@@oe@2-2-2013
21774009@unknown@formal@none@1@S@For example, he noted, operating profit was weaker than he had anticipated, but nonoperating earnings of $14.6 million and a lower tax rate helped boost net income.@@@@1@27@@oe@2-2-2013
21774010@unknown@formal@none@1@S@Dun & Bradstreet said operating earnings rose 8%, excluding the sale of Official Airline Guides.@@@@1@15@@oe@2-2-2013
21774011@unknown@formal@none@1@S@Third-quarter sales of U.S. credit services were "disappointingly below sales" of a year earlier, Dun & Bradstreet said.@@@@1@18@@oe@2-2-2013
21774012@unknown@formal@none@1@S@As previously reported, those sales have been declining this year in the wake of allegations that the company engaged in unfair sales practices that encouraged customers to overpurchase services.@@@@1@29@@oe@2-2-2013
21774013@unknown@formal@none@1@S@The company has denied the allegations but has negotiated a proposed $18 million settlement of related lawsuits.@@@@1@17@@oe@2-2-2013
21774014@unknown@formal@none@1@S@Analysts predict the sales impact will linger.@@@@1@7@@oe@2-2-2013
21774015@unknown@formal@none@1@S@"There isn't much question there will continue to be a ripple effect," said John Reidy, an analyst with Drexel Burnham Lambert Inc.@@@@1@22@@oe@2-2-2013
21774016@unknown@formal@none@1@S@Dun & Bradstreet noted that price competition in its Nielsen Marketing Research, Nielsen Clearing House and Donnelley Marketing businesses also restrained revenue growth.@@@@1@23@@oe@2-2-2013
21774017@unknown@formal@none@1@S@It cited cyclical conditions in its Moody's Investors Service Inc. and D&B Plan Services units.@@@@1@15@@oe@2-2-2013
21774018@unknown@formal@none@1@S@For the nine months, net income rose 19% to $449 million, or $2.40 a share, from $375.9 million, or $2.01 a share, a year earlier.@@@@1@25@@oe@2-2-2013
21774019@unknown@formal@none@1@S@Year-earlier earnings reflected costs of $14.3 million related to the acquisition of IMS International.@@@@1@14@@oe@2-2-2013
21774020@unknown@formal@none@1@S@Revenue rose slightly to $3.16 billion from $3.13 billion.@@@@1@9@@oe@2-2-2013
21775001@unknown@formal@none@1@S@Control Data Corp. said it licensed its airline yield-management software to the International Air Transport Association.@@@@1@16@@oe@2-2-2013
21775002@unknown@formal@none@1@S@Terms include a royalty arrangement, but details weren't disclosed.@@@@1@9@@oe@2-2-2013
21775003@unknown@formal@none@1@S@The computer equipment and financial services company said IATA, a trade group, will sell access to the package to its 180 airline members world-wide.@@@@1@24@@oe@2-2-2013
21775004@unknown@formal@none@1@S@Control Data will receive revenue linked to the number of passengers served by the software, IATA said.@@@@1@17@@oe@2-2-2013
21775005@unknown@formal@none@1@S@The package helps carriers solve pricing problems, such as how to react to discounts offered by competitors or what would be the optimum number of seats to offer at a given price.@@@@1@32@@oe@2-2-2013
21776001@unknown@formal@none@1@S@Wheeling-Pittsburgh Steel Corp. said it decided to proceed with installation of automatic gauge and shape controls at its 60-inch tandem cold rolling mill in Allenport, Pa.@@@@1@26@@oe@2-2-2013
21776002@unknown@formal@none@1@S@The new equipment, which will produce steel sheet with more uniform thickness and flatness, is likely to cost more than $20 million, the company said.@@@@1@25@@oe@2-2-2013
21776003@unknown@formal@none@1@S@When the company last considered adding the equipment two years ago, it estimated the cost at $21 million to $22 million, but a task force will have to prepare a detailed plan before the company can predict the current cost.@@@@1@40@@oe@2-2-2013
21776004@unknown@formal@none@1@S@The time schedule for installing the equipment also will be developed by the task force, the company said.@@@@1@18@@oe@2-2-2013
21777001@unknown@formal@none@1@S@Sir Richard Butler, 60-year-old chairman of Agricola (U.K.) Ltd., was named chairman of County NatWest Investment Management Ltd., the investment management subsidiary of County NatWest Ltd., the investment banking arm of this British bank.@@@@1@34@@oe@2-2-2013
21777002@unknown@formal@none@1@S@Sir Richard succeeds John Plastow, who resigned in July.@@@@1@9@@oe@2-2-2013
21777003@unknown@formal@none@1@S@Sir Richard is also a non-executive director at National Westminister Bank and NatWest Investment Bank Ltd.@@@@1@16@@oe@2-2-2013
21778001@unknown@formal@none@1@S@In the long, frightening night after Tuesday's devastating earthquake, Bay Area residents searched for comfort and solace wherever they could.@@@@1@20@@oe@2-2-2013
21778002@unknown@formal@none@1@S@Some found it on the screen of a personal computer.@@@@1@10@@oe@2-2-2013
21778003@unknown@formal@none@1@S@Hundreds of Californians made their way to their computers after the quake, and checked in with each other on electronic bulletin boards, which link computers CB-radio-style, via phone lines.@@@@1@29@@oe@2-2-2013
21778004@unknown@formal@none@1@S@Some of the most vivid bulletins came over The Well, a Sausalito, Calif., board that is one of the liveliest outposts of the electronic underground.@@@@1@25@@oe@2-2-2013
21778005@unknown@formal@none@1@S@About two-thirds of the Well's 3,000 subscribers live in the Bay Area.@@@@1@12@@oe@2-2-2013
21778006@unknown@formal@none@1@S@The quake knocked The Well out for six hours, but when it came back up, it teemed with emotional first-hand reports.@@@@1@21@@oe@2-2-2013
21778007@unknown@formal@none@1@S@Following are excerpts from the electronic traffic that night.@@@@1@9@@oe@2-2-2013
21778008@unknown@formal@none@1@S@The time is Pacific Daylight Time, and the initials or nicknames are those subscribers use to identify themselves.@@@@1@18@@oe@2-2-2013
21778009@unknown@formal@none@1@S@11:54 p.m.@@@@1@2@@oe@2-2-2013
21778010@unknown@formal@none@1@S@JCKC:@@@@1@1@@oe@2-2-2013
21778011@unknown@formal@none@1@S@Wow!@@@@1@1@@oe@2-2-2013
21778012@unknown@formal@none@1@S@I was in the avenues, on the third floor of an old building, and except for my heart (Beat, BEAT!) I'm OK.@@@@1@22@@oe@2-2-2013
21778013@unknown@formal@none@1@S@Got back to Bolinas, and everything had fallen: broken poster frames with glass on the floor, file cabinets open or dumped onto the floor.@@@@1@24@@oe@2-2-2013
21778014@unknown@formal@none@1@S@11:59 p.m.@@@@1@2@@oe@2-2-2013
21778015@unknown@formal@none@1@S@JKD:@@@@1@1@@oe@2-2-2013
21778016@unknown@formal@none@1@S@I was in my favorite watering hole, waiting for the game to start.@@@@1@13@@oe@2-2-2013
21778017@unknown@formal@none@1@S@I felt the temblor begin and glanced at the table next to mine, smiled that guilty smile and we both mouthed the words, "Earth-quake!" together.@@@@1@25@@oe@2-2-2013
21778018@unknown@formal@none@1@S@That's usually how long it takes for the temblors to pass.@@@@1@11@@oe@2-2-2013
21778019@unknown@formal@none@1@S@This time, it just got stronger and then the building started shaking violently up and down as though it were a child's toy block that was being tossed.@@@@1@28@@oe@2-2-2013
21778020@unknown@formal@none@1@S@12:06 a.m.@@@@1@2@@oe@2-2-2013
21778021@unknown@formal@none@1@S@HRH:@@@@1@1@@oe@2-2-2013
21778022@unknown@formal@none@1@S@I was in the Berkeley Main library when it hit.@@@@1@10@@oe@2-2-2013
21778023@unknown@formal@none@1@S@Endless seconds wondering if those huge windows would buckle and shower us with glass.@@@@1@14@@oe@2-2-2013
21778024@unknown@formal@none@1@S@Only a few books fell in the reading room.@@@@1@9@@oe@2-2-2013
21778025@unknown@formal@none@1@S@Then the auto paint shop fire sent an evil-looking cloud of black smoke into the air.@@@@1@16@@oe@2-2-2013
21778026@unknown@formal@none@1@S@12:07 a.m.@@@@1@2@@oe@2-2-2013
21778027@unknown@formal@none@1@S@ONEZIE:@@@@1@1@@oe@2-2-2013
21778028@unknown@formal@none@1@S@My younger daughter and I are fine.@@@@1@7@@oe@2-2-2013
21778029@unknown@formal@none@1@S@This building shook like hell and it kept getting stronger.@@@@1@10@@oe@2-2-2013
21778030@unknown@formal@none@1@S@Except for the gas tank at Hustead's Towing Service exploding and burning in downtown Berkeley, things here are quite peaceful.@@@@1@20@@oe@2-2-2013
21778031@unknown@formal@none@1@S@A lot of car alarms went off.@@@@1@7@@oe@2-2-2013
21778032@unknown@formal@none@1@S@The cats are fine, although nervous.@@@@1@6@@oe@2-2-2013
21778033@unknown@formal@none@1@S@12:15 a.m.@@@@1@2@@oe@2-2-2013
21778034@unknown@formal@none@1@S@DHAWK:@@@@1@1@@oe@2-2-2013
21778035@unknown@formal@none@1@S@Huge fire from broken gas main in the Marina in SF.@@@@1@11@@oe@2-2-2013
21778036@unknown@formal@none@1@S@Areas that are made of `fill' liquefy.@@@@1@7@@oe@2-2-2013
21778037@unknown@formal@none@1@S@A woman in a three-story apartment was able to walk out the window of the third floor onto street level after the quake.@@@@1@23@@oe@2-2-2013
21778038@unknown@formal@none@1@S@The house just settled right down into the ground.@@@@1@9@@oe@2-2-2013
21778039@unknown@formal@none@1@S@12:38 a.m.@@@@1@2@@oe@2-2-2013
21778040@unknown@formal@none@1@S@DAYAC:@@@@1@1@@oe@2-2-2013
21778041@unknown@formal@none@1@S@I was driving my truck, stopped at a red light at the corner of Shattuck and Alcatraz at the Oakland-Berkeley border when it hit.@@@@1@24@@oe@2-2-2013
21778042@unknown@formal@none@1@S@Worst part was watching power lines waving above my head and no way to drive away.@@@@1@16@@oe@2-2-2013
21778043@unknown@formal@none@1@S@12:48 a.m.@@@@1@2@@oe@2-2-2013
21778044@unknown@formal@none@1@S@LMEYER:@@@@1@1@@oe@2-2-2013
21778045@unknown@formal@none@1@S@Was 300 ft. out on a pier in San Rafael.@@@@1@10@@oe@2-2-2013
21778046@unknown@formal@none@1@S@It flopped all around, real dramatic!@@@@1@6@@oe@2-2-2013
21778047@unknown@formal@none@1@S@Many hairline cracks in the concrete slabs afterwards.@@@@1@8@@oe@2-2-2013
21778048@unknown@formal@none@1@S@Ruined the damn fishing!@@@@1@4@@oe@2-2-2013
21778049@unknown@formal@none@1@S@1:00 a.m.@@@@1@2@@oe@2-2-2013
21778050@unknown@formal@none@1@S@HEYNOW:@@@@1@1@@oe@2-2-2013
21778051@unknown@formal@none@1@S@I rode it out on the second floor of Leo's at 55th and Telegraph in Oakland.@@@@1@16@@oe@2-2-2013
21778052@unknown@formal@none@1@S@I heard parts of the building above my head cracking.@@@@1@10@@oe@2-2-2013
21778053@unknown@formal@none@1@S@I actually thought that I might die.@@@@1@7@@oe@2-2-2013
21778054@unknown@formal@none@1@S@I couldn't decide if I should come home to Marin, because my house is on stilts.@@@@1@16@@oe@2-2-2013
21778055@unknown@formal@none@1@S@I decided to brave the storm.@@@@1@6@@oe@2-2-2013
21778056@unknown@formal@none@1@S@There was a horrible smell of gas as I passed the Chevron refinery before crossing the Richmond-San Rafael Bridge.@@@@1@19@@oe@2-2-2013
21778057@unknown@formal@none@1@S@I could also see the clouds across the bay from the horrible fire in the Marina District of San Francisco.@@@@1@20@@oe@2-2-2013
21778058@unknown@formal@none@1@S@I have felt many aftershocks.@@@@1@5@@oe@2-2-2013
21778059@unknown@formal@none@1@S@My back is still in knots and my hands are still shaking.@@@@1@12@@oe@2-2-2013
21778060@unknown@formal@none@1@S@I think a few of the aftershocks might just be my body shaking.@@@@1@13@@oe@2-2-2013
21778061@unknown@formal@none@1@S@1:11 a.m.@@@@1@2@@oe@2-2-2013
21778062@unknown@formal@none@1@S@GR8FLRED:@@@@1@1@@oe@2-2-2013
21778063@unknown@formal@none@1@S@I could see the flames from San Francisco from my house across the bay.@@@@1@14@@oe@2-2-2013
21778064@unknown@formal@none@1@S@It's hard to believe this really is happening.@@@@1@8@@oe@2-2-2013
21778065@unknown@formal@none@1@S@1:11 a.m.@@@@1@2@@oe@2-2-2013
21778066@unknown@formal@none@1@S@RD:@@@@1@1@@oe@2-2-2013
21778067@unknown@formal@none@1@S@Building on the corner severely damaged, so an old lady and her very old mother are in the guest room.@@@@1@20@@oe@2-2-2013
21778068@unknown@formal@none@1@S@Books and software everywhere.@@@@1@4@@oe@2-2-2013
21778069@unknown@formal@none@1@S@This being typed in a standing position.@@@@1@7@@oe@2-2-2013
21778070@unknown@formal@none@1@S@1:20 a.m.@@@@1@2@@oe@2-2-2013
21778071@unknown@formal@none@1@S@DGAULT:@@@@1@1@@oe@2-2-2013
21778072@unknown@formal@none@1@S@Bolinas -- astride the San Andreas Fault.@@@@1@7@@oe@2-2-2013
21778073@unknown@formal@none@1@S@Didn't feel a thing, but noticed some strange bird behavior.@@@@1@10@@oe@2-2-2013
21778074@unknown@formal@none@1@S@Duck swarms.@@@@1@2@@oe@2-2-2013
21778075@unknown@formal@none@1@S@3:25 a.m.@@@@1@2@@oe@2-2-2013
21778076@unknown@formal@none@1@S@SAMURAI:@@@@1@1@@oe@2-2-2013
21778077@unknown@formal@none@1@S@I just felt another aftershock a few seconds ago.@@@@1@9@@oe@2-2-2013
21778078@unknown@formal@none@1@S@I'm just numb.@@@@1@3@@oe@2-2-2013
21778079@unknown@formal@none@1@S@3:25 a.m.@@@@1@2@@oe@2-2-2013
21778080@unknown@formal@none@1@S@MACPOST:@@@@1@1@@oe@2-2-2013
21778081@unknown@formal@none@1@S@Downtown Bolinas seems to be the part of town that's worst off.@@@@1@12@@oe@2-2-2013
21778082@unknown@formal@none@1@S@No power, minimal phones, and a mess of mayonnaise, wine, and everything else all over the floors of the big old general store and the People's Co-op.@@@@1@27@@oe@2-2-2013
21778083@unknown@formal@none@1@S@The quivers move through my house every few minutes at unpredictable intervals, and the mouse that's been living in my kitchen has taken refuge under my desk.@@@@1@27@@oe@2-2-2013
21778084@unknown@formal@none@1@S@It runs out frantically now and then, and is clearly pretty distressed.@@@@1@12@@oe@2-2-2013
21778085@unknown@formal@none@1@S@I was in Stinson Beach when the quake rolled through town.@@@@1@11@@oe@2-2-2013
21778086@unknown@formal@none@1@S@At first, we were unfazed.@@@@1@5@@oe@2-2-2013
21778087@unknown@formal@none@1@S@Then as things got rougher, we ran for the door and spent the next few minutes outside watching the brick sidewalk under our feet oozing up and down, and the flowers waving in an eerie rhythm.@@@@1@36@@oe@2-2-2013
21778088@unknown@formal@none@1@S@Amazing what it does to one's heart rate and one's short-term memory.@@@@1@12@@oe@2-2-2013
21778089@unknown@formal@none@1@S@Everyone looked calm, but there was this surreal low level of confusion as the aftershocks continued.@@@@1@16@@oe@2-2-2013
21778090@unknown@formal@none@1@S@4:02 a.m.@@@@1@2@@oe@2-2-2013
21778091@unknown@formal@none@1@S@SHIBUMI:@@@@1@1@@oe@2-2-2013
21778092@unknown@formal@none@1@S@Power is back on, and UCSF {medical center} seems to have quieted down for the night (they were doing triage out in the parking lot from the sound and lights of it).@@@@1@32@@oe@2-2-2013
21778093@unknown@formal@none@1@S@A friend of mine was in an underground computer center in downtown SF when the quake hit.@@@@1@17@@oe@2-2-2013
21778094@unknown@formal@none@1@S@He said that one of the computers took a three-foot trip sliding across the floor.@@@@1@15@@oe@2-2-2013
21778095@unknown@formal@none@1@S@Today should be interesting as people realize how hard life is going to be here for a while.@@@@1@18@@oe@2-2-2013
21778096@unknown@formal@none@1@S@4:30 a.m.@@@@1@2@@oe@2-2-2013
21778097@unknown@formal@none@1@S@KIM:@@@@1@1@@oe@2-2-2013
21778098@unknown@formal@none@1@S@I got home, let the dogs into the house and noticed some sounds above my head, as if someone were walking on the roof, or upstairs.@@@@1@26@@oe@2-2-2013
21778099@unknown@formal@none@1@S@Then I noticed the car was bouncing up and down as if someone were jumping on it.@@@@1@17@@oe@2-2-2013
21778100@unknown@formal@none@1@S@I realized what was happening and screamed into the house for the dogs.@@@@1@13@@oe@2-2-2013
21778101@unknown@formal@none@1@S@Cupboard doors were flying, the trash can in the kitchen walked a few feet, the dogs came running, and I scooted them into the dog run and stood in the doorway myself, watching the outside trash cans dance across the concrete.@@@@1@41@@oe@2-2-2013
21778102@unknown@formal@none@1@S@When I realized it was over, I went and stood out in front of the house, waiting and praying for Merrill to come home, shivering as if it were 20 below zero until he got there.@@@@1@36@@oe@2-2-2013
21778103@unknown@formal@none@1@S@Never in my life have I been so frightened.@@@@1@9@@oe@2-2-2013
21778104@unknown@formal@none@1@S@When I saw the pictures of 880 and the Bay Bridge, I began to cry.@@@@1@15@@oe@2-2-2013
21778105@unknown@formal@none@1@S@5:09 a.m.@@@@1@2@@oe@2-2-2013
21778106@unknown@formal@none@1@S@JROE:@@@@1@1@@oe@2-2-2013
21778107@unknown@formal@none@1@S@The Sunset {District} was more or less like a pajama party all evening, lots of people & dogs walking around, drinking beer.@@@@1@22@@oe@2-2-2013
21778108@unknown@formal@none@1@S@6:50 a.m.@@@@1@2@@oe@2-2-2013
21778109@unknown@formal@none@1@S@CAROLG:@@@@1@1@@oe@2-2-2013
21778110@unknown@formal@none@1@S@I was just sitting down to meet with some new therapy clients, a couple, and the building started shaking like crazy.@@@@1@21@@oe@2-2-2013
21778111@unknown@formal@none@1@S@It's a flimsy structure, built up on supports, and it was really rocking around.@@@@1@14@@oe@2-2-2013
21778112@unknown@formal@none@1@S@The three of us stopped breathing for a moment, and then when it kept on coming we lunged for the doorway.@@@@1@21@@oe@2-2-2013
21778113@unknown@formal@none@1@S@Needless to say, it was an interesting first session!@@@@1@9@@oe@2-2-2013
21778114@unknown@formal@none@1@S@7:13 a.m.@@@@1@2@@oe@2-2-2013
21778115@unknown@formal@none@1@S@CALLIOPE:@@@@1@1@@oe@2-2-2013
21778116@unknown@formal@none@1@S@Albany escaped embarrassingly unscathed.@@@@1@4@@oe@2-2-2013
21778117@unknown@formal@none@1@S@Biggest trouble was scared family who couldn't get a phone line through, and spent a really horrible hour not knowing.@@@@1@20@@oe@2-2-2013
21778118@unknown@formal@none@1@S@8:01 a.m.@@@@1@2@@oe@2-2-2013
21778119@unknown@formal@none@1@S@HLR:@@@@1@1@@oe@2-2-2013
21778120@unknown@formal@none@1@S@Judy and I were in our back yard when the lawn started rolling like ocean waves.@@@@1@16@@oe@2-2-2013
21778121@unknown@formal@none@1@S@We ran into the house to get Mame, but the next tremor threw me in the air and bounced me as I tried to get to my feet.@@@@1@28@@oe@2-2-2013
21778122@unknown@formal@none@1@S@We are all fine here, although Mame was extremely freaked.@@@@1@10@@oe@2-2-2013
21778123@unknown@formal@none@1@S@Kitchen full of broken crystal.@@@@1@5@@oe@2-2-2013
21778124@unknown@formal@none@1@S@Books and tapes all over my room.@@@@1@7@@oe@2-2-2013
21778125@unknown@formal@none@1@S@Not one thing in the house is where it is supposed to be, but the structure is fine.@@@@1@18@@oe@2-2-2013
21778126@unknown@formal@none@1@S@While I was standing on the lawn with Mame, waiting for another tremor, I noticed that all the earthworms were emerging from the ground and slithering across the lawn!@@@@1@29@@oe@2-2-2013
21778127@unknown@formal@none@1@S@9:31 a.m.@@@@1@2@@oe@2-2-2013
21778128@unknown@formal@none@1@S@GR8FLRED:@@@@1@1@@oe@2-2-2013
21778129@unknown@formal@none@1@S@It's amazing how one second can so completely change your life.@@@@1@11@@oe@2-2-2013
21778130@unknown@formal@none@1@S@9:38 a.m.@@@@1@2@@oe@2-2-2013
21778131@unknown@formal@none@1@S@FIG:@@@@1@1@@oe@2-2-2013
21778132@unknown@formal@none@1@S@I guess we're all living very tentatively here, waiting for the expected but dreaded aftershock.@@@@1@15@@oe@2-2-2013
21778133@unknown@formal@none@1@S@It's hard to accept that it's over and only took 15 seconds.@@@@1@12@@oe@2-2-2013
21778134@unknown@formal@none@1@S@I wonder when we'll be able to relax.@@@@1@8@@oe@2-2-2013
21778135@unknown@formal@none@1@S@9:53 a.m.@@@@1@2@@oe@2-2-2013
21778136@unknown@formal@none@1@S@PANDA:@@@@1@1@@oe@2-2-2013
21778137@unknown@formal@none@1@S@Flesh goes to total alert for flight or fight.@@@@1@9@@oe@2-2-2013
21778138@unknown@formal@none@1@S@Nausea seems a commonplace symptom.@@@@1@5@@oe@2-2-2013
21778139@unknown@formal@none@1@S@Berkeley very quiet right now.@@@@1@5@@oe@2-2-2013
21778140@unknown@formal@none@1@S@I walked along Shattuck between Delaware and Cedar at a few minutes before eight this morning.@@@@1@16@@oe@2-2-2013
21778141@unknown@formal@none@1@S@Next to Chez Panisse a homeless couple, bundled into a blue sleeping bag, sat up, said, "Good morning" and then the woman smiled, said, "Isn't it great just to be alive?"@@@@1@31@@oe@2-2-2013
21778142@unknown@formal@none@1@S@I agreed.@@@@1@2@@oe@2-2-2013
21778143@unknown@formal@none@1@S@It is.@@@@1@2@@oe@2-2-2013
21778144@unknown@formal@none@1@S@Great.@@@@1@1@@oe@2-2-2013
21779001@unknown@formal@none@1@S@Georgia-Pacific Corp., exceeding some analysts' expectations, said third-quarter earnings rose 56% to $178 million, or $2.03 a share, from $114 million, or $1.19 a share, in the year-earlier period.@@@@1@29@@oe@2-2-2013
21779002@unknown@formal@none@1@S@Sales increased 10% to $2.65 billion from $2.41 billion.@@@@1@9@@oe@2-2-2013
21779003@unknown@formal@none@1@S@Per-share earnings were enhanced by the company's share buy-back program, which reduced the average shares outstanding to 87.5 million in the quarter from 95.8 million in the same quarter of 1988.@@@@1@31@@oe@2-2-2013
21779004@unknown@formal@none@1@S@With strong prices in the company's two major areas -- building products as well as pulp and paper -- analysts had expected a roaring quarter.@@@@1@25@@oe@2-2-2013
21779005@unknown@formal@none@1@S@But the performance exceeded some estimates of around $1.90 a share.@@@@1@11@@oe@2-2-2013
21779006@unknown@formal@none@1@S@Fueling the growth, among other things, were higher-than-expected prices for certain building products.@@@@1@13@@oe@2-2-2013
21779007@unknown@formal@none@1@S@One reason: efforts to protect the spotted owl led to restrictions on logging in the Pacific Northwest, constricting supply and forcing prices up.@@@@1@23@@oe@2-2-2013
21779008@unknown@formal@none@1@S@Another reason: strikes, both at Georgia-Pacific and other lumber companies also cut supplies and raised prices, analysts said.@@@@1@18@@oe@2-2-2013
21779009@unknown@formal@none@1@S@For the nine months, Georgia-Pacific's earnings increased 49% to $504 million, or $5.58 a share, from $338 million, or $3.41 a share.@@@@1@22@@oe@2-2-2013
21779010@unknown@formal@none@1@S@Sales rose 11% to $7.73 billion from $6.94 billion.@@@@1@9@@oe@2-2-2013
21779011@unknown@formal@none@1@S@In composite New York Stock Exchange Trading, Georgia-Pacific stock rose $1.25 a share yesterday to close at $58.@@@@1@18@@oe@2-2-2013
21780001@unknown@formal@none@1@S@The House Public Works and Transportation Committee approved a bill that would give the Transportation Department power to block airline leveraged buy-outs, despite a clear veto threat from the Bush administration.@@@@1@31@@oe@2-2-2013
21780002@unknown@formal@none@1@S@The 23-5 vote clears the way for consideration on the House floor next week or the week after.@@@@1@18@@oe@2-2-2013
21780003@unknown@formal@none@1@S@Transportation Secretary Samuel Skinner, in a letter to the committee, warned that he would urge President Bush to veto the legislation if it passed Congress.@@@@1@25@@oe@2-2-2013
21780004@unknown@formal@none@1@S@The Senate Commerce Committee already has approved similar legislation.@@@@1@9@@oe@2-2-2013
21780005@unknown@formal@none@1@S@On Monday, a letter from Mr. Skinner's deputy, Elaine Chao, said the administration opposed the legislation "in its present form."@@@@1@20@@oe@2-2-2013
21780006@unknown@formal@none@1@S@Some of the bill's supporters had taken heart from the fact that the letter wasn't signed by Mr. Skinner and that it didn't contain a veto threat.@@@@1@27@@oe@2-2-2013
21780007@unknown@formal@none@1@S@The stepped-up administration warnings annoyed some lawmakers, especially senior Republicans who supported the bill because they thought the Transportation Department favored it.@@@@1@22@@oe@2-2-2013
21780008@unknown@formal@none@1@S@"We backed this bill because we thought it would help Skinner," one Republican said, "and now we're out there dangling in the wind."@@@@1@23@@oe@2-2-2013
21780009@unknown@formal@none@1@S@A few weeks ago, Mr. Skinner testified before Congress that it would be "cleaner, more efficient" if he had authority to block buy-outs in advance.@@@@1@25@@oe@2-2-2013
21780010@unknown@formal@none@1@S@But he never took an official position on the bill and has steadfastly maintained that he already has enough authority to deal with buy-outs.@@@@1@24@@oe@2-2-2013
21780011@unknown@formal@none@1@S@Under the committee bill, the Transportation secretary would have 30 days, and an additional 20 days if needed, to review any proposed purchase of 15% or more of a major U.S. airline's voting stock.@@@@1@34@@oe@2-2-2013
21780012@unknown@formal@none@1@S@The secretary would be required to block an acquisition if he concluded that it would so weaken an airline financially that it would hurt safety or reduce the carrier's ability to compete, or if it gave control to a foreign interest.@@@@1@41@@oe@2-2-2013
21780013@unknown@formal@none@1@S@Although the legislation would apply to any acquisition of a major airline, it is aimed at transactions financed by large amounts of debt.@@@@1@23@@oe@2-2-2013
21780014@unknown@formal@none@1@S@Supporters of the bill are concerned an airline might sacrifice costly safety measures in order to repay debt.@@@@1@18@@oe@2-2-2013
21780015@unknown@formal@none@1@S@The panel's action occurs in a politically charged atmosphere surrounding recent buy-out proposals, their apparent collapse and the volatile conditions in the stock market.@@@@1@24@@oe@2-2-2013
21780016@unknown@formal@none@1@S@"It became apparent in hearings that there ought to be regulation of leveraged buy-outs of some sort," Rep. James Oberstar (D., Minn.), chairman of the House Aviation Subcommittee, said during the panel's deliberations.@@@@1@33@@oe@2-2-2013
21780017@unknown@formal@none@1@S@"I don't believe in the airline business you can be totally laissez-faire because of the high degree of public interest" at stake.@@@@1@22@@oe@2-2-2013
21780018@unknown@formal@none@1@S@But Mr. Skinner disagreed, calling the legislation "a retreat from the policy of deregulaton of the airline industry."@@@@1@18@@oe@2-2-2013
21780019@unknown@formal@none@1@S@In his letter to Committee Chairman Glenn Anderson (D., Calif.), the secretary also said the bill "would be at odds with the administration's policies welcoming open foreign investment and market allocation of resources."@@@@1@33@@oe@2-2-2013
21780020@unknown@formal@none@1@S@Currently, the Transportation Department doesn't have the authority to block a takeover in advance.@@@@1@14@@oe@2-2-2013
21780021@unknown@formal@none@1@S@However, if the secretary concludes that a transaction has made a carrier unfit to operate, the department may revoke its certificate, grounding the airline.@@@@1@24@@oe@2-2-2013
21780022@unknown@formal@none@1@S@Such authority is more than adequate, say opponents of the legislation.@@@@1@11@@oe@2-2-2013
21780023@unknown@formal@none@1@S@But supporters argue that grounding an airline is so drastic that the department would hesitate doing it.@@@@1@17@@oe@2-2-2013
21780024@unknown@formal@none@1@S@The panel rejected a proposal pushed by AMR Corp., the parent of American Airlines, to allow the Transportation secretary to block corporate raiders from waging proxy fights to oust boards that oppose a leveraged buy-out.@@@@1@35@@oe@2-2-2013
21780025@unknown@formal@none@1@S@It also voted down proposals to give the secretary much more discretion on whether to block a buy-out and to require the department to consider the impact of a buy-out on workers.@@@@1@32@@oe@2-2-2013
21781001@unknown@formal@none@1@S@London shares rallied to post strong gains after initial fears evaporated that the California earthquake would depress Wall Street prices.@@@@1@20@@oe@2-2-2013
21781002@unknown@formal@none@1@S@Tokyo stocks, which rebounded strongly Tuesday, extended their gains yesterday, but most other Asian and Pacific markets closed sharply lower.@@@@1@20@@oe@2-2-2013
21781003@unknown@formal@none@1@S@In London, the Financial Times-Stock Exchange 100-share index jumped 34.6 points to close at its intraday high of 2170.1.@@@@1@19@@oe@2-2-2013
21781004@unknown@formal@none@1@S@The index was under pressure for most of the morning over concerns that the effects of Tuesday night's major earthquake in the San Francisco area would undermine the U.S. market.@@@@1@30@@oe@2-2-2013
21781005@unknown@formal@none@1@S@The mood changed after dealers reappraised the direct impact of the disaster on shares and Wall Street rebounded from early losses.@@@@1@21@@oe@2-2-2013
21781006@unknown@formal@none@1@S@The Financial Times 30-share index settled 27.8 points higher at 1758.5.@@@@1@11@@oe@2-2-2013
21781007@unknown@formal@none@1@S@Volume was 449.3 million shares, the slowest of a hectic week, compared with 643.4 million Tuesday.@@@@1@16@@oe@2-2-2013
21781008@unknown@formal@none@1@S@U.K. composite, or non-life, insurers, which some equity analysts said might be heavily hit by the earthquake disaster, helped support the London market by showing only narrow losses in early trading.@@@@1@31@@oe@2-2-2013
21781009@unknown@formal@none@1@S@The insurers' relative resilience gave the market time to reappraise the impact of the California disaster on U.K. equities, dealers said.@@@@1@21@@oe@2-2-2013
21781010@unknown@formal@none@1@S@Dealers said the market still hasn't shaken off its nervousness after its bumpy ride of the past several sessions, caused by interest-rate increases last week and Wall Street's 6.9% plunge Friday.@@@@1@31@@oe@2-2-2013
21781011@unknown@formal@none@1@S@But technical factors, including modest gains in the value of the pound, helped draw buying back into the market and reverse losses posted a day earlier.@@@@1@26@@oe@2-2-2013
21781012@unknown@formal@none@1@S@Among composite insurers, General Accident rose 10 pence to #10.03 ($15.80) a share, Guardian Royal climbed 5 to 217 pence, Sun Alliance rose 3 to 290, and Royal Insurance jumped 12 to 450.@@@@1@33@@oe@2-2-2013
21781013@unknown@formal@none@1@S@Life insurers fared similarly, with Legal & General advancing 3 to 344, although Prudential fell 2 to 184 1/2.@@@@1@19@@oe@2-2-2013
21781014@unknown@formal@none@1@S@Pearl Group rose 5 to 628, and Sun Life finished unchanged at #10.98.@@@@1@13@@oe@2-2-2013
21781015@unknown@formal@none@1@S@Most banking issues retreated after a sector downgrade by Warburg Securities, although National Westminister showed strength on positive comments from brokerage firms about its long-term prospects.@@@@1@26@@oe@2-2-2013
21781016@unknown@formal@none@1@S@NatWest, the most actively traded of the banks, finished at 300, up 1.@@@@1@13@@oe@2-2-2013
21781017@unknown@formal@none@1@S@B.A.T Industries fell in early dealings but recovered to finish at 754, up 5.@@@@1@14@@oe@2-2-2013
21781018@unknown@formal@none@1@S@Dealers said the market was nervous ahead of a special B.A.T holders' meeting today.@@@@1@14@@oe@2-2-2013
21781019@unknown@formal@none@1@S@The session is to consider a defensive plan to spin off assets to fend off Sir James Goldsmith's #13.4 billion bid for B.A.T.@@@@1@23@@oe@2-2-2013
21781020@unknown@formal@none@1@S@The recent stock market drop has shaken confidence in the plan, but dealers said the shares fell initially on questions about whether Mr. Goldsmith's highly leveraged bid will come to fruition.@@@@1@31@@oe@2-2-2013
21781021@unknown@formal@none@1@S@Trading was suspended in WCRS Group, a U.K. advertising concern, pending an announcement that it is buying the remaining 50% of France's Carat Holding for 2.02 billion French francs ($318.7 million) and expanding commercial and equity ties with advertising group Eurocom.@@@@1@41@@oe@2-2-2013
21781022@unknown@formal@none@1@S@Merchant banker Morgan Grenfell climbed 14 to 406 on renewed takeover speculation.@@@@1@12@@oe@2-2-2013
21781023@unknown@formal@none@1@S@S.G. Warburg, also mentioned in the rumor mill, jumped 14 at to 414.@@@@1@13@@oe@2-2-2013
21781024@unknown@formal@none@1@S@Jaguar advanced 19 to 673 as traders contemplated a potential battle between General Motors and Ford Motor for control of the U.K. luxury auto maker.@@@@1@25@@oe@2-2-2013
21781025@unknown@formal@none@1@S@Tokyo's Nikkei index of 225 issues rose 111.48 points, or 0.32%, to 35107.56.@@@@1@13@@oe@2-2-2013
21781026@unknown@formal@none@1@S@The index gained 527.39 Tuesday.@@@@1@5@@oe@2-2-2013
21781027@unknown@formal@none@1@S@Volume was estimated at 800 million shares, compared with 678 million Tuesday.@@@@1@12@@oe@2-2-2013
21781028@unknown@formal@none@1@S@Declining issues outnumbered advancers 505-455, with 172 unchanged.@@@@1@8@@oe@2-2-2013
21781029@unknown@formal@none@1@S@The Tokyo Stock Price Index of all issues listed in the first section, which gained 41.76 Tuesday, was up 0.24 points, or 0.01%, at 2642.88.@@@@1@25@@oe@2-2-2013
21781030@unknown@formal@none@1@S@In early trading in Tokyo Thursday, the Nikkei index rose 135.09 points to 35242.65.@@@@1@14@@oe@2-2-2013
21781031@unknown@formal@none@1@S@On Wednesday, shares were pushed up by index-related buying on the part of investment trusts as well as small orders from individuals and corporations, traders said.@@@@1@26@@oe@2-2-2013
21781032@unknown@formal@none@1@S@Institutions, meanwhile, stepped back to the sidelines as the direction of U.S. interest rates remained unclear.@@@@1@16@@oe@2-2-2013
21781033@unknown@formal@none@1@S@The uncertainty was multiplied by the persistent strength of the dollar, traders said, and by the U.S. trade deficit, which widened by 31% in August from the previous month.@@@@1@29@@oe@2-2-2013
21781034@unknown@formal@none@1@S@Traders and analysts said they didn't see any effect on Tokyo stocks from the California earthquake.@@@@1@16@@oe@2-2-2013
21781035@unknown@formal@none@1@S@The impact on Japanese insurers and property owners with interests in the San Francisco area is still being assessed, they said.@@@@1@21@@oe@2-2-2013
21781036@unknown@formal@none@1@S@Buying was scattered across a wide range of issues, making the session fairly characterless, traders said.@@@@1@16@@oe@2-2-2013
21781037@unknown@formal@none@1@S@With uncertainty still hanging over interest rates and the dollar, the market failed to find a focus that might lead to further investor commitments, they said.@@@@1@26@@oe@2-2-2013
21781038@unknown@formal@none@1@S@Some traders said the popularity of issues that gained yesterday won't last long, as investors will rotate their buying choices over the short term.@@@@1@24@@oe@2-2-2013
21781039@unknown@formal@none@1@S@Interest rate-sensitive shares such as steel, construction and electric utility companies, which rose early in the week, saw their advance weaken yesterday.@@@@1@22@@oe@2-2-2013
21781040@unknown@formal@none@1@S@Traders said these issues need large-volume buying to push up their prices, so substantial gains aren't likely unless institutional investors participate.@@@@1@21@@oe@2-2-2013
21781041@unknown@formal@none@1@S@An outstanding issue in yesterday's session was Mitsubishi Rayon, which surged 95 to 905 yen ($6.34) a share.@@@@1@18@@oe@2-2-2013
21781042@unknown@formal@none@1@S@Its popularity was due to speculation about the strong earnings potential of a new type of plastic wrap for household use, a trader at County Natwest Securities Japan said.@@@@1@29@@oe@2-2-2013
21781043@unknown@formal@none@1@S@Some laggard food issues attracted bargain-hunters, traders said.@@@@1@8@@oe@2-2-2013
21781044@unknown@formal@none@1@S@Kirin Brewery was up 100 at 2,000, and Ajinomoto gained 70 to 2,840.@@@@1@13@@oe@2-2-2013
21781045@unknown@formal@none@1@S@Pharmaceuticals were mostly higher, with SS Pharmaceutical gaining 140 to 1,980.@@@@1@11@@oe@2-2-2013
21781046@unknown@formal@none@1@S@Shares closed lower in other major Asian and Pacific markets, including Sydney, Hong Kong, Singapore, Taipei, Wellington, Seoul and Manila.@@@@1@20@@oe@2-2-2013
21781047@unknown@formal@none@1@S@Most of those markets had rebounded the day before from Monday's slide.@@@@1@12@@oe@2-2-2013
21781048@unknown@formal@none@1@S@But unlike the Tokyo exchange, they failed to extend the rise to a second session.@@@@1@15@@oe@2-2-2013
21781049@unknown@formal@none@1@S@Elsewhere, prices surged for a second day in Frankfurt, closed higher in Zurich, Stockholm and Amsterdam and were broadly lower in Milan, Paris and Brussels.@@@@1@25@@oe@2-2-2013
21781050@unknown@formal@none@1@S@South African gold stocks ended marginally firmer.@@@@1@7@@oe@2-2-2013
21781051@unknown@formal@none@1@S@In Brussels, it was the first trading day for most major shares since stocks tumbled on Wall Street Friday.@@@@1@19@@oe@2-2-2013
21781052@unknown@formal@none@1@S@Trading had been impeded by a major computer failure that took place before the start of Monday's session.@@@@1@18@@oe@2-2-2013
21781053@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
21781054@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
21781055@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
21782001@unknown@formal@none@1@S@Housing construction sank in September to its lowest level since the last recession, the Commerce Department reported.@@@@1@17@@oe@2-2-2013
21782002@unknown@formal@none@1@S@Work began on homes and apartments at an annual rate of 1,263,000 units last month, down 5.2% from August, the department said.@@@@1@22@@oe@2-2-2013
21782003@unknown@formal@none@1@S@The September decline followed an even steeper drop of 6.2% in August and left housing starts at their weakest since October 1982, when the country was nearing the end of a recession.@@@@1@32@@oe@2-2-2013
21782004@unknown@formal@none@1@S@Originally the department had reported the August decline as 5%.@@@@1@10@@oe@2-2-2013
21782005@unknown@formal@none@1@S@The numbers suggest that the housing industry is still suffering the effects of the Federal Reserve's battle against inflation.@@@@1@19@@oe@2-2-2013
21782006@unknown@formal@none@1@S@The industry had shown signs of recovery this summer, after the central bank began to relax its clamp on credit, allowing interest rates to drop a bit after pushing them up for a year.@@@@1@34@@oe@2-2-2013
21782007@unknown@formal@none@1@S@Sales of new homes rose and inventories of houses, which had been climbing, dropped.@@@@1@14@@oe@2-2-2013
21782008@unknown@formal@none@1@S@But last month new construction in all types of homes waned, from single-family houses to large apartment complexes.@@@@1@18@@oe@2-2-2013
21782009@unknown@formal@none@1@S@"It's pretty much weak across the board," said Martin Regalia, chief economist of the National Council of Savings Institutions.@@@@1@19@@oe@2-2-2013
21782010@unknown@formal@none@1@S@Mr. Regalia said the industry may be reluctant to step up building at the moment for fear the inventories of unsold homes will increase again.@@@@1@25@@oe@2-2-2013
21782011@unknown@formal@none@1@S@Another reason for the weakness, he said, may be that mortgage rates have hit a plateau since they began edging down after a peak in March.@@@@1@26@@oe@2-2-2013
21782012@unknown@formal@none@1@S@In August, rates on 30-year fixed-rate mortgages started creeping up a bit, but they inched down again through September.@@@@1@19@@oe@2-2-2013
21782013@unknown@formal@none@1@S@"Rates haven't really peeled off that much," Mr. Regalia said.@@@@1@10@@oe@2-2-2013
21782014@unknown@formal@none@1@S@"We've kind of settled now into an interest-rate environment that's fairly high."@@@@1@12@@oe@2-2-2013
21782015@unknown@formal@none@1@S@Work was begun on single family homes -- the core of the housing market -- at an annual rate of 971,000 in September, a drop of 2.1% from the previous month.@@@@1@31@@oe@2-2-2013
21782016@unknown@formal@none@1@S@That followed a 3.3% decline in August.@@@@1@7@@oe@2-2-2013
21782017@unknown@formal@none@1@S@Construction of apartments and other multi-family dwellings slipped 2.2% to an annual rate of 1,022,000 following a 3.5% decline in August.@@@@1@21@@oe@2-2-2013
21782018@unknown@formal@none@1@S@The number of building permits issued for future construction dropped 2.4% to a 1,296,000 annual rate after rising 3.7% in August.@@@@1@21@@oe@2-2-2013
21782019@unknown@formal@none@1@S@All the numbers were adjusted for normal seasonal variations in building activity.@@@@1@12@@oe@2-2-2013
21782020@unknown@formal@none@1@S@The housing starts numbers, however, are one of the least precise of the government's economic indicators and are often revised significantly as more information is collected.@@@@1@26@@oe@2-2-2013
21783001@unknown@formal@none@1@S@Shearson Lehman Hutton Holdings Inc. posted a sharp third-quarter turnaround from a year earlier, but net income would have dropped from the second quarter without a $37 million after-tax gain.@@@@1@30@@oe@2-2-2013
21783002@unknown@formal@none@1@S@The securities firm posted third-quarter net of $66 million, or 64 cents a share, compared with a restated year-earlier loss of $3 million, or 11 cents a share.@@@@1@28@@oe@2-2-2013
21783003@unknown@formal@none@1@S@Revenue climbed 25% to $3.3 billion from $2.6 billion.@@@@1@9@@oe@2-2-2013
21783004@unknown@formal@none@1@S@The latest period included the gain, which was $77 million before tax, from the previously announced sale of the institutional money management business of Lehman Management Co.@@@@1@27@@oe@2-2-2013
21783005@unknown@formal@none@1@S@The 1988 period was restated from net income of $8 million to correct an overstatement in the company's Boston Co. subsidiary.@@@@1@21@@oe@2-2-2013
21783006@unknown@formal@none@1@S@In the 1989 second quarter, Shearson had net income of $55 million, or 54 cents a share.@@@@1@17@@oe@2-2-2013
21783007@unknown@formal@none@1@S@An average 102.5 million common shares were outstanding in the latest quarter, up from 87.1 million.@@@@1@16@@oe@2-2-2013
21783008@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Shearson shares lost 37.5 cents to $18.125.@@@@1@15@@oe@2-2-2013
21783009@unknown@formal@none@1@S@The company said the improved performance from a year ago reflects higher commissions and revenue from marketmaking and trading for its own account.@@@@1@23@@oe@2-2-2013
21783010@unknown@formal@none@1@S@Commission revenue was $522 million, up 49%.@@@@1@7@@oe@2-2-2013
21783011@unknown@formal@none@1@S@But industrywide trading activity slowed in September as institutional investors turned cautious and individuals continued to shy away from the market.@@@@1@21@@oe@2-2-2013
21783012@unknown@formal@none@1@S@Investment banking revenue fell 32% to $205 million, in part reflecting the continued slowdown of the underwriting business.@@@@1@18@@oe@2-2-2013
21783013@unknown@formal@none@1@S@In the nine months, net fell 3% to $106 million, or 98 cents a share, from $110 million, or $1.05 a share.@@@@1@22@@oe@2-2-2013
21783014@unknown@formal@none@1@S@Revenue advanced 26% to $9.6 billion from $7.6 billion.@@@@1@9@@oe@2-2-2013
21784001@unknown@formal@none@1@S@Two major drug companies posted strong third-quarter earnings, in line with profits already reported by industry leaders and analysts' expectations.@@@@1@20@@oe@2-2-2013
21784002@unknown@formal@none@1@S@But Pfizer Inc., based in New York, reported flat earnings.@@@@1@10@@oe@2-2-2013
21784003@unknown@formal@none@1@S@Schering-Plough Corp., based in Madison, N.J., reported a 21% rise in earnings as American Home Products Corp. of New York posted an 11% increase in net.@@@@1@26@@oe@2-2-2013
21784004@unknown@formal@none@1@S@American Home Products@@@@1@3@@oe@2-2-2013
21784005@unknown@formal@none@1@S@American Home Products said sales and earnings for the third quarter and nine months were at record levels.@@@@1@18@@oe@2-2-2013
21784006@unknown@formal@none@1@S@Sales for the third quarter increased 6.5% to $1.51 billion from $1.42 billion.@@@@1@13@@oe@2-2-2013
21784007@unknown@formal@none@1@S@Sales of health-care products increased 6% in the third quarter, based in part on strong sales of prescription drugs such as Premarin, an estrogen-replacement drug, and sales of the company's infant formula.@@@@1@32@@oe@2-2-2013
21784008@unknown@formal@none@1@S@American Home Products said net income benefited from a "lower effective tax rate," reflecting a reduction of foreign tax rates, and additional operations in Puerto Rico.@@@@1@26@@oe@2-2-2013
21784009@unknown@formal@none@1@S@Net also was aided by a gain on the sale of the company's equity interests in South Africa effective Sept. 1.@@@@1@21@@oe@2-2-2013
21784010@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, American Home Products closed at $102.25 a share, down 75 cents.@@@@1@19@@oe@2-2-2013
21784011@unknown@formal@none@1@S@Pfizer@@@@1@1@@oe@2-2-2013
21784012@unknown@formal@none@1@S@Pfizer said third-quarter sales increased 4% to $1.44 billion from $1.38 billion.@@@@1@12@@oe@2-2-2013
21784013@unknown@formal@none@1@S@The company said net income was flat because of investment in research and development and costs related to launches of several products.@@@@1@22@@oe@2-2-2013
21784014@unknown@formal@none@1@S@The company said the dollar's continued strengthening reduced world-wide sales growth by three percentage points.@@@@1@15@@oe@2-2-2013
21784015@unknown@formal@none@1@S@Pfizer posted its largest gains in healthcare sales, up 3%, and consumer products, up 23%.@@@@1@15@@oe@2-2-2013
21784016@unknown@formal@none@1@S@Sales by the specialty chemicals and materials science segments were flat, and sales by the agriculture segment declined 5%.@@@@1@19@@oe@2-2-2013
21784017@unknown@formal@none@1@S@In the health-care segment, pharmaceutical sales increased 4% and sales of hospital products increased 1%.@@@@1@15@@oe@2-2-2013
21784018@unknown@formal@none@1@S@During the quarter, Pfizer received federal approval of Procardia XL, a calcium channel blocker approved for both angina and hypertension, and Monorail Piccolino, used to open obstructed coronary arteries.@@@@1@29@@oe@2-2-2013
21784019@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Pfizer closed at $67.75 a share, up 75 cents.@@@@1@17@@oe@2-2-2013
21784020@unknown@formal@none@1@S@Schering-Plough@@@@1@1@@oe@2-2-2013
21784021@unknown@formal@none@1@S@Schering-Plough said sales gained 2.7% to $743.7 million from $724.4 million.@@@@1@11@@oe@2-2-2013
21784022@unknown@formal@none@1@S@In the period, the company completed the sale of its European cosmetics businesses, sold a majority interest in its Brazilian affiliate, and announced the reorganization of its over-the-counter drug businesses into a new unit, Schering-Plough Health Care Products.@@@@1@38@@oe@2-2-2013
21784023@unknown@formal@none@1@S@These actions didn't affect results because the gain on the sale of the European cosmetics businesses was offset by provisions relating to the Brazil divestiture and drug restructuring.@@@@1@28@@oe@2-2-2013
21784024@unknown@formal@none@1@S@U.S. pharmaceutical sales rose 15%, led by allergy, asthma and cold products; dermatological products; anti-infectives and anti-cancer products; and cardiovascular products.@@@@1@21@@oe@2-2-2013
21784025@unknown@formal@none@1@S@World-wide consumer product sales declined 12%, primarily because of the European cosmetics sale.@@@@1@13@@oe@2-2-2013
21784026@unknown@formal@none@1@S@Significantly lower sales of `Stay Trim' diet aids also were a factor in the drop.@@@@1@15@@oe@2-2-2013
21784027@unknown@formal@none@1@S@The Maybelline beauty product line had higher sales following a sluggish first half.@@@@1@13@@oe@2-2-2013
21784028@unknown@formal@none@1@S@In Big Board composite trading, Schering-Plough shares fell 75 cents to close at $74.125.@@@@1@14@@oe@2-2-2013
21785001@unknown@formal@none@1@S@Swedish auto and aerospace concern Saab-Scania AB said it received a 250 million krona ($39 million) order from Swiss Crossair, one of Europe's leading regional air companies, for five Saab 340B turboprop commuter aircraft.@@@@1@34@@oe@2-2-2013
21786001@unknown@formal@none@1@S@It is quite unfortunate that you failed so miserably in reporting the Hurricane Hugo disaster.@@@@1@15@@oe@2-2-2013
21786002@unknown@formal@none@1@S@Your Sept. 27 page-one article "Charleston Lost Quite a Lot to Hugo, Especially Gentility" leaves the impression that the storm was little more than an inconvenience.@@@@1@26@@oe@2-2-2013
21786003@unknown@formal@none@1@S@The damage reported focused on a select few who owned irreplaceable historic homes on the Battery.@@@@1@16@@oe@2-2-2013
21786004@unknown@formal@none@1@S@Not mentioned were the 50,000 people rendered homeless, and the more than 200,000 out of work for an indeterminable period; the $1 billion-plus in losses to homes and personal property on the barrier islands; the near- and long-term impact on the state's largest industry, tourism, not to mention the human suffering.@@@@1@51@@oe@2-2-2013
21786005@unknown@formal@none@1@S@In centering on the disruption of a few proud local customs such as the historichomes tour and the damage to the antiquities, your reporter served to only perpetuate an outdated and stereotypically provincial view of this otherwise thriving port city.@@@@1@40@@oe@2-2-2013
21786006@unknown@formal@none@1@S@The damage will undoubtedly prove to be one of the epic human and economic disasters of the decade in this country.@@@@1@21@@oe@2-2-2013
21786007@unknown@formal@none@1@S@David M. Carroll@@@@1@3@@oe@2-2-2013
21786008@unknown@formal@none@1@S@Columbia, S.C.@@@@1@2@@oe@2-2-2013
21786009@unknown@formal@none@1@S@Your story was tasteless and insensitive.@@@@1@6@@oe@2-2-2013
21786010@unknown@formal@none@1@S@Depicting the people of a traumatized city reeling from a disaster of unprecedented proportions was at the very best ludicrous under the circumstances.@@@@1@23@@oe@2-2-2013
21786011@unknown@formal@none@1@S@Your narrow focus appears to be a contrived attempt to show the people of that historic city to be doddering fools.@@@@1@21@@oe@2-2-2013
21786012@unknown@formal@none@1@S@You had to have been blind not to see the scenario there for what it was and is and will continue to be for months and even years -- a part of South Carolina that has sustained a blow that the Red Cross expects will cost that organization alone some $38 million.@@@@1@52@@oe@2-2-2013
21786013@unknown@formal@none@1@S@William C. Barksdale Jr.@@@@1@4@@oe@2-2-2013
21786014@unknown@formal@none@1@S@Columbia, S.C.@@@@1@2@@oe@2-2-2013
21786015@unknown@formal@none@1@S@Charleston is historic and aristocratic, as your reporter said, but not haughty, as he suggested.@@@@1@15@@oe@2-2-2013
21786016@unknown@formal@none@1@S@Charlestonians are instead indomitable and have contributed mightily to the culture and history of our country for more than 300 years.@@@@1@21@@oe@2-2-2013
21786017@unknown@formal@none@1@S@I suggest your reporter see Charleston next spring in its full glory.@@@@1@12@@oe@2-2-2013
21786018@unknown@formal@none@1@S@William C. Stuart III@@@@1@4@@oe@2-2-2013
21786019@unknown@formal@none@1@S@Silver Spring, Md.@@@@1@3@@oe@2-2-2013
21787001@unknown@formal@none@1@S@Affiliated Bankshares of Colorado Inc. said it agreed to sell its 10% interest in Rocky Mountain Bankcard Systems for $18.5 million to Colorado National Bank of Denver and Central Bank of Denver.@@@@1@32@@oe@2-2-2013
21787002@unknown@formal@none@1@S@Colorado National is a unit of Colorado National Bankshares Inc. and Central is a unit of First Bank System of Minneapolis.@@@@1@21@@oe@2-2-2013
21787003@unknown@formal@none@1@S@Affiliated said it expects to record a pretax gain of about $18.5 million from the sale of the credit-card business, which should more than offset any reduction in the carrying value of real estate and real-estate loans on its books.@@@@1@40@@oe@2-2-2013
21788001@unknown@formal@none@1@S@The U.S. Export-Import Bank tentatively decided to guarantee commercial bank financing for the purchase of two Boeing Co. 767 airliners by Avianca, Colombia's international airline, at a cost of about $150 million.@@@@1@32@@oe@2-2-2013
21788002@unknown@formal@none@1@S@The loan guarantee would amount to about $127.5 million, or 85% of the cost of the aircraft.@@@@1@17@@oe@2-2-2013
21788003@unknown@formal@none@1@S@Because of the size of the proposed loan guarantee, the Ex-Im Bank's preliminary commitment is subject to review by the House and Senate Banking committees.@@@@1@25@@oe@2-2-2013
21788004@unknown@formal@none@1@S@Ex-Im Bank officials said this review process currently is under way.@@@@1@11@@oe@2-2-2013
21789001@unknown@formal@none@1@S@Sebastian Guzman Cabrera took over the oil workers union, Mexico's most powerful labor organization, only last January.@@@@1@17@@oe@2-2-2013
21789002@unknown@formal@none@1@S@But even in that short time Mr. Guzman Cabrera has become as controversial in his own way as his deposed predecessor, Joaquin Hernandez Galicia, known as La Quina.@@@@1@28@@oe@2-2-2013
21789003@unknown@formal@none@1@S@President Carlos Salinas de Gortari used the army to oust La Quina, who reigned for 28 years over a graft-riddled empire that made state-run Petroleos Mexicanos, or Pemex, one of the world's most inefficient oil companies.@@@@1@36@@oe@2-2-2013
21789004@unknown@formal@none@1@S@Now, Mr. Guzman Cabrera is facing accusations that he's as much a company man as La Quina was a crook.@@@@1@20@@oe@2-2-2013
21789005@unknown@formal@none@1@S@In recent contract negotiations with Pemex management, Mr. Guzman Cabrera accepted major concessions that greatly curtail the union's role in subcontracting, long a source of millions of dollars in illicit earnings.@@@@1@31@@oe@2-2-2013
21789006@unknown@formal@none@1@S@And with the quiet pragmatism of Mr. Guzman Cabrera replacing the prickly populism of La Quina, government technocrats have been given a free hand to open the petrochemical sector to wider private and foreign investment.@@@@1@35@@oe@2-2-2013
21789007@unknown@formal@none@1@S@Mr. Guzman Cabrera's new order hasn't arrived without resistance.@@@@1@9@@oe@2-2-2013
21789008@unknown@formal@none@1@S@Brawls between union factions still erupt at Pemex installations.@@@@1@9@@oe@2-2-2013
21789009@unknown@formal@none@1@S@Leftist leader Cuauhtemoc Cardenas publicly questioned Mr. Guzman Cabrera's "moral quality," suggesting he is part of a conspiracy to turn over the country's oil, a symbol of Mexican nationalism, to foreigners.@@@@1@31@@oe@2-2-2013
21789010@unknown@formal@none@1@S@The 61-year-old Mr. Guzman Cabrera takes such criticisms in stride.@@@@1@10@@oe@2-2-2013
21789011@unknown@formal@none@1@S@"This isn't a new kind of union leadership, it's a new Mexico.@@@@1@12@@oe@2-2-2013
21789012@unknown@formal@none@1@S@We're no longer afraid of associating with private or foreign capital," he says.@@@@1@13@@oe@2-2-2013
21789013@unknown@formal@none@1@S@Pemex, which produces 40% of government revenue, desperately needs new investment.@@@@1@11@@oe@2-2-2013
21789014@unknown@formal@none@1@S@Since world oil prices collapsed in 1982, the government has siphoned Pemex's coffers to make payments on Mexico's $97 billion foreign debt.@@@@1@22@@oe@2-2-2013
21789015@unknown@formal@none@1@S@Little money has been returned to upgrade Pemex's aging facilities.@@@@1@10@@oe@2-2-2013
21789016@unknown@formal@none@1@S@While the government drains Pemex from above, the union has drained it from below.@@@@1@14@@oe@2-2-2013
21789017@unknown@formal@none@1@S@A bloated payroll and pervasive graft caused Pemex's operating costs to balloon to 95 cents of each $1 in sales, far above the industry norm.@@@@1@25@@oe@2-2-2013
21789018@unknown@formal@none@1@S@The declines in investment and efficiency explain in part why Mexico has been importing gasoline this year.@@@@1@17@@oe@2-2-2013
21789019@unknown@formal@none@1@S@Some projections show Mexico importing crude by the end of the century, barring an overhaul of operations.@@@@1@17@@oe@2-2-2013
21789020@unknown@formal@none@1@S@"Whatever you tried to change, whether it was cutting costs or attracting new partners, the big obstacle was the old union leadership," says oil consultant George Baker.@@@@1@27@@oe@2-2-2013
21789021@unknown@formal@none@1@S@Enter Mr. Guzman Cabrera, who has a clear understanding of where union leaders fit in the pro-enterprise regime of President Salinas.@@@@1@21@@oe@2-2-2013
21789022@unknown@formal@none@1@S@"I'm the secretary-general, if there is one," he says, greeting a visitor to his office.@@@@1@15@@oe@2-2-2013
21789023@unknown@formal@none@1@S@Beginning as a laborer in a refinery, Mr. Guzman Cabrera put in more than 40 years at Pemex before being pushed into retirement by La Quina after a dispute two years ago.@@@@1@32@@oe@2-2-2013
21789024@unknown@formal@none@1@S@Though he also long benefited from the system built by La Quina, Mr. Guzman Cabrera says union perks had simply gotten out of hand.@@@@1@24@@oe@2-2-2013
21789025@unknown@formal@none@1@S@They are "at the base of all of the problems of corruption," he says.@@@@1@14@@oe@2-2-2013
21789026@unknown@formal@none@1@S@Thus, in recent contract negotiations, Mr. Guzman Cabrera gave up the union's right to assign 40% of all of Pemex's outside contracts -- an enormous source of kickbacks.@@@@1@28@@oe@2-2-2013
21789027@unknown@formal@none@1@S@The union also ceded the 2% commission it had received on all Pemex maintenance contracts.@@@@1@15@@oe@2-2-2013
21789028@unknown@formal@none@1@S@(The union will keep a 2% commission on construction projects.)@@@@1@10@@oe@2-2-2013
21789029@unknown@formal@none@1@S@The new contract also eliminates the $15 monthly coupon, good only at union-owned grocery stores, that was part of the salary of every worker, from roughneck to chief executive.@@@@1@29@@oe@2-2-2013
21789030@unknown@formal@none@1@S@About 9,800 technical workers, notably chemists and lawyers, were switched to non-union status.@@@@1@13@@oe@2-2-2013
21789031@unknown@formal@none@1@S@Also, because of its reduced capital budget, Pemex has phased out about 50,000 transitory construction workers, reducing the work force to about 140,000, the union leader says.@@@@1@27@@oe@2-2-2013
21789032@unknown@formal@none@1@S@Mr. Guzman Cabrera says the union's sacrifices will be offset by a wage and benefit package that amounts to a 22% increase in compensation.@@@@1@24@@oe@2-2-2013
21789033@unknown@formal@none@1@S@But Pemex managers are the ones most thrilled by the contract.@@@@1@11@@oe@2-2-2013
21789034@unknown@formal@none@1@S@"We are retaking the instruments of administration," says Raul Robles, a Pemex subdirector.@@@@1@13@@oe@2-2-2013
21789035@unknown@formal@none@1@S@Pemex officials wouldn't say how much money the new contract would save the company, but one previous government estimate pegged savings at around $500 million a year.@@@@1@27@@oe@2-2-2013
21789036@unknown@formal@none@1@S@Pemex's customers also are pleased with the company's new spirit.@@@@1@10@@oe@2-2-2013
21789037@unknown@formal@none@1@S@Grupo Desc, a big conglomerate, has long depended on Pemex petrochemicals to produce plastic packing material.@@@@1@16@@oe@2-2-2013
21789038@unknown@formal@none@1@S@But when the Pemex plant shut down for an annual overhaul, it would never give notice to its customers.@@@@1@19@@oe@2-2-2013
21789039@unknown@formal@none@1@S@"The capriciousness would completely disrupt our operations," says Ernesto Vega Velasco, Desc's finance director.@@@@1@14@@oe@2-2-2013
21789040@unknown@formal@none@1@S@This year, for the first time, Desc and other customers were consulted well in advance of the Pemex plant's shutdown to ensure minimal inconvenience.@@@@1@24@@oe@2-2-2013
21789041@unknown@formal@none@1@S@Taming the union complements previous moves by the government to attract private investment in petrochemicals, which Mexico has been forced to import in large quantities in recent years.@@@@1@28@@oe@2-2-2013
21789042@unknown@formal@none@1@S@In May, the government unveiled new foreign investment regulations that create special trusts allowing foreigners, long limited to a 40% stake in secondary petrochemical companies, to own up to 100%.@@@@1@30@@oe@2-2-2013
21789043@unknown@formal@none@1@S@Later, the government reclassified several basic petrochemicals as secondary products.@@@@1@10@@oe@2-2-2013
21789044@unknown@formal@none@1@S@But Pemex's courtship with private companies, and especially foreign ones, is controversial in a country where oil has been a symbol of national sovereignty since foreign oil holdings were nationalized in 1938.@@@@1@32@@oe@2-2-2013
21789045@unknown@formal@none@1@S@"They are preparing the workers for what's coming: foreign control," wrote Heberto Castillo, a leftist leader.@@@@1@16@@oe@2-2-2013
21789046@unknown@formal@none@1@S@Mr. Guzman Cabrera and government officials insist that foreigners will be limited to investing in secondary petroleum products.@@@@1@18@@oe@2-2-2013
21789047@unknown@formal@none@1@S@But the new union leader makes no apologies for Pemex's more outward-looking attitude.@@@@1@13@@oe@2-2-2013
21789048@unknown@formal@none@1@S@"If we do not integrate into this new world of interdependence, sooner or later we're going to become victims of our own isolation," he says.@@@@1@25@@oe@2-2-2013
21790001@unknown@formal@none@1@S@Couple Counseling Grows to Defuse Stress@@@@1@6@@oe@2-2-2013
21790002@unknown@formal@none@1@S@MORE EXECUTIVES and their spouses are seeking counseling as work and family pressures mount.@@@@1@14@@oe@2-2-2013
21790003@unknown@formal@none@1@S@Some employers initiate referrals, especially if work problems threaten a top manager's job.@@@@1@13@@oe@2-2-2013
21790004@unknown@formal@none@1@S@Many couples "are like ships passing in the night," a communications gulf that sparks problems on the job and at home, says psychologist Harry Levinson.@@@@1@25@@oe@2-2-2013
21790005@unknown@formal@none@1@S@His Levinson Institute in Belmont, Mass., has seen in recent years a doubling in the number of executives and spouses at its weeklong counseling program.@@@@1@25@@oe@2-2-2013
21790006@unknown@formal@none@1@S@Employers foot the bill, he says, figuring what's good for the couple is good for the company.@@@@1@17@@oe@2-2-2013
21790007@unknown@formal@none@1@S@One East Coast manufacturing executive, faced with a job transfer his wife resented, found that counseling helped them both come to grips with the move.@@@@1@25@@oe@2-2-2013
21790008@unknown@formal@none@1@S@And the vice president of a large Midwestern company realized that an abrasive temperament threatened his career when his wife confided that similar behavior at home harmed their marriage.@@@@1@29@@oe@2-2-2013
21790009@unknown@formal@none@1@S@More dual-career couples also are getting help, with men increasingly bringing their working wives for joint counseling.@@@@1@17@@oe@2-2-2013
21790010@unknown@formal@none@1@S@"The level of stress for a woman is often so high, it's the husband who says, 'I'm worried about her,'" says psychologist Marjorie Hansen Shaevitz.@@@@1@25@@oe@2-2-2013
21790011@unknown@formal@none@1@S@Her Institute for Family and Work Relationships in La Jolla, Calif., has noted a doubling in the number of couples seeking help the past two years.@@@@1@26@@oe@2-2-2013
21790012@unknown@formal@none@1@S@"No matter how competent and smart you both are, the relationship almost certainly will erode if you don't have time to talk, to have fun and to be sexual," says Ms. Shaevitz.@@@@1@32@@oe@2-2-2013
21790013@unknown@formal@none@1@S@She urges client couples to begin a "detoxification" period, purging social and other nonproductive activities and setting time apart for themselves.@@@@1@21@@oe@2-2-2013
21790014@unknown@formal@none@1@S@"Putting those times on the calendar," she says, "is as important as remembering business appointments."@@@@1@15@@oe@2-2-2013
21790015@unknown@formal@none@1@S@Power of Suggestion Stronger in Japan@@@@1@6@@oe@2-2-2013
21790016@unknown@formal@none@1@S@HERE'S ONE more explanation for why Japan is a tough industrial competitor: Two of three Japanese employees submit suggestions to save money, increase efficiency and boost morale, while only 8% of American workers do.@@@@1@34@@oe@2-2-2013
21790017@unknown@formal@none@1@S@And the Japanese make far more suggestions -- 2,472 per 100 eligible employees vs. only 13 per 100 employees in the@@@@1@21@@oe@2-2-2013
21790018@unknown@formal@none@1@S@Data for 1987 from the National Association of Suggestion Systems and the Japan Human Relations Association also indicate that Japanese employers adopt four of five suggestions, while their U.S. counterparts accept just one in four.@@@@1@35@@oe@2-2-2013
21790019@unknown@formal@none@1@S@In Japan, small suggestions are encouraged.@@@@1@6@@oe@2-2-2013
21790020@unknown@formal@none@1@S@Each new employee is expected to submit four daily in the first few months on the job.@@@@1@17@@oe@2-2-2013
21790021@unknown@formal@none@1@S@U.S. companies tend to favor suggestions "that go for the home runs," says Gary Floss, vice president of corporate quality at Control Data Corp.@@@@1@24@@oe@2-2-2013
21790022@unknown@formal@none@1@S@That helps explain why American employers grant an average award of $604.72 per suggestion, while Japan's payment is $3.23.@@@@1@19@@oe@2-2-2013
21790023@unknown@formal@none@1@S@Still, suggestions' net savings per 100 employees is $274,475 in Japan vs. $24,891 in the U.S.@@@@1@16@@oe@2-2-2013
21790024@unknown@formal@none@1@S@U.S. companies developing management teams are wrestling with how to handle individual suggestion systems.@@@@1@14@@oe@2-2-2013
21790025@unknown@formal@none@1@S@Control Data, for one, plays down its employee suggestion program because it favors the team-management focus.@@@@1@16@@oe@2-2-2013
21790026@unknown@formal@none@1@S@Merger Fallout: Beware Employee Dishonesty@@@@1@5@@oe@2-2-2013
21790027@unknown@formal@none@1@S@CORPORATE security directors increasingly worry that merger mania spawns a rise in employee dishonesty.@@@@1@14@@oe@2-2-2013
21790028@unknown@formal@none@1@S@A Security magazine survey places the effect of takeovers and buy-outs among the industry's 10 biggest challenges.@@@@1@17@@oe@2-2-2013
21790029@unknown@formal@none@1@S@"If it causes management to take their eye off the ball, inventory shrinkage is going to be affected," says Lewis Shealy, vice president for loss prevention at Marshall Field's, the department store chain.@@@@1@33@@oe@2-2-2013
21790030@unknown@formal@none@1@S@A separate study of the extent of employee misconduct linked general job satisfaction to property loss.@@@@1@16@@oe@2-2-2013
21790031@unknown@formal@none@1@S@Co-author Richard Hollinger cites what happened at one family-owned company absorbed by a foreign giant.@@@@1@15@@oe@2-2-2013
21790032@unknown@formal@none@1@S@Pilferage climbed dramatically as many angry employees "felt abandoned by the former owners," says the University of Florida sociologist.@@@@1@19@@oe@2-2-2013
21790033@unknown@formal@none@1@S@But top management should watch for other tell-tale signs of employee misdeeds, like expense-account fudging and phone misuse.@@@@1@18@@oe@2-2-2013
21790034@unknown@formal@none@1@S@Security consultant Dennis Dalton of Ventura, Calif., thinks mergers often trigger longer lunch hours and increased absenteeism, conduct which can sap the bottom line more than thefts.@@@@1@27@@oe@2-2-2013
21790035@unknown@formal@none@1@S@New management can take several steps to reduce dishonesty.@@@@1@9@@oe@2-2-2013
21790036@unknown@formal@none@1@S@Most important, experts say, is to show that a company's ethical tone is set at the top.@@@@1@17@@oe@2-2-2013
21790037@unknown@formal@none@1@S@Mr. Dalton also recommends that the chief executive establish a rumor control center and move swiftly to bolster morale.@@@@1@19@@oe@2-2-2013
21790038@unknown@formal@none@1@S@Consultant John Keller of Southlake, Texas, urges that top management adopt a "tough hands-on approach" with very tight controls and monitoring.@@@@1@21@@oe@2-2-2013
21790039@unknown@formal@none@1@S@And security authority Robert L. Duston favors disciplining all employees who cheat.@@@@1@12@@oe@2-2-2013
21790040@unknown@formal@none@1@S@Firms Walk Fine Line In Distributing Profits@@@@1@7@@oe@2-2-2013
21790041@unknown@formal@none@1@S@ARE CORPORATE profits distributed fairly?@@@@1@5@@oe@2-2-2013
21790042@unknown@formal@none@1@S@A survey by Sirota, Alper & Pfau, a New York consulting firm, underscores the difficulty for top management in satisfying employees and investors on that score.@@@@1@26@@oe@2-2-2013
21790043@unknown@formal@none@1@S@Nearly seven of 10 investors think companies reinvest "too little" of their profits in the business.@@@@1@16@@oe@2-2-2013
21790044@unknown@formal@none@1@S@And half the employees surveyed think companies dole out too little to them.@@@@1@13@@oe@2-2-2013
21790045@unknown@formal@none@1@S@But both see a common enemy: About 66% of employees and 73% of investors think senior managers get too big a slice of the profit pie.@@@@1@26@@oe@2-2-2013
21791001@unknown@formal@none@1@S@Bank of New York Co. said it agreed in principle to acquire the credit-card business of Houston-based First City Bancorp. of Texas for between $130 million and $134 million.@@@@1@29@@oe@2-2-2013
21791002@unknown@formal@none@1@S@The move, subject to a definitive agreement, is part of a trend by big-city banks that have been buying up credit-card portfolios to expand their business.@@@@1@26@@oe@2-2-2013
21791003@unknown@formal@none@1@S@Just last month, a Bank of New York subsidiary agreed to buy the credit-card operation of Dreyfus Corp.'s Dreyfus Consumer Bank for $168 million, a transaction that is expected to be completed by the end of the year.@@@@1@38@@oe@2-2-2013
21791004@unknown@formal@none@1@S@First City's portfolio includes approximately 640,000 accounts with about $550 million in loans outstanding.@@@@1@14@@oe@2-2-2013
21791005@unknown@formal@none@1@S@First City, which issues both MasterCard and Visa cards, has agreed to act as an agent bank.@@@@1@17@@oe@2-2-2013
21791006@unknown@formal@none@1@S@At the end of the third quarter, Bank of New York's credit-card business consisted of 2.4 million accounts with $3.6 billion in loans outstanding.@@@@1@24@@oe@2-2-2013
21791007@unknown@formal@none@1@S@Bank of New York is currently the seventh-largest issuer of credit cards in the@@@@1@14@@oe@2-2-2013
21791008@unknown@formal@none@1@S@First City said that because of increased competition in the credit-card business, it had decided it either had to expand its own holdings substantially or sell them.@@@@1@27@@oe@2-2-2013
21791009@unknown@formal@none@1@S@"We think there's a good prospect that competition is going to get pretty fierce in this market," said James E. Day, a First City vice president.@@@@1@26@@oe@2-2-2013
21791010@unknown@formal@none@1@S@"We see it becoming a bargain-basement kind of business."@@@@1@9@@oe@2-2-2013
21791011@unknown@formal@none@1@S@The company estimated that the transaction would enhance its book value, which stood at $28.55 a share on Sept. 30, by more than $100 million, or about $4 a share.@@@@1@30@@oe@2-2-2013
21791012@unknown@formal@none@1@S@The company also said the transaction would bolster after-tax earnings by $3.25 a share when completed and boost its primary capital ratio to 7% from 6.63%.@@@@1@26@@oe@2-2-2013
21791013@unknown@formal@none@1@S@First City, which recently purchased three small Texas banking concerns, said it would use the proceeds to pursue additional expansion opportunities in the Southwest and elsewhere.@@@@1@26@@oe@2-2-2013
21791014@unknown@formal@none@1@S@With that possibility in mind, analysts said the transaction was a positive move for First City.@@@@1@16@@oe@2-2-2013
21791015@unknown@formal@none@1@S@"I think they'll be able to move faster to make acquisitions in Texas," said Brent Erensel, an analyst with Donaldson, Lufkin & Jenrette.@@@@1@23@@oe@2-2-2013
21791016@unknown@formal@none@1@S@"That's something they can do very well.@@@@1@7@@oe@2-2-2013
21792001@unknown@formal@none@1@S@British Airways PLC said it is seeking improved terms and a sharply lower price in any revised bid for United Airlines parent UAL Corp. following the collapse of a $6.79 billion, $300-a-share buy-out bid.@@@@1@34@@oe@2-2-2013
21792002@unknown@formal@none@1@S@Derek Stevens, British Air's chief financial officer, told Dow Jones Professional Investor Report a price of $230 a share is "certainly not too low," and indicated his company would like to reduce the size of its $750 million cash investment.@@@@1@40@@oe@2-2-2013
21792003@unknown@formal@none@1@S@He added the airline isn't committed to going forward with any new bid, and hasn't participated in bankers' efforts to revive the transaction that collapsed.@@@@1@25@@oe@2-2-2013
21792004@unknown@formal@none@1@S@"We're in no way committed to a deal going through at all.@@@@1@12@@oe@2-2-2013
21792005@unknown@formal@none@1@S@We're not rushing into anything.@@@@1@5@@oe@2-2-2013
21792006@unknown@formal@none@1@S@We don't want to be party to a second rejection," he said, adding that coming up with a revised offer could easily take several weeks.@@@@1@25@@oe@2-2-2013
21792007@unknown@formal@none@1@S@Mr. Stevens's remarks, confirming a report in The Wall Street Journal that British Air wants to start from scratch in any new bid for the nation's second-largest airline, helped push UAL stock lower for the fourth straight day.@@@@1@38@@oe@2-2-2013
21792008@unknown@formal@none@1@S@UAL fell $6.25 a share to $191.75 on volume of 2.3 million shares in composite trading on the New York Stock Exchange as concern deepened among takeover stock traders about the length of time it will take to revive the purchase.@@@@1@41@@oe@2-2-2013
21792009@unknown@formal@none@1@S@Under the original buy-out approved by the UAL board Sept. 14, UAL's pilots planned to put up $200 million in cash and make $200 million in annual cost concessions for a 75% stake.@@@@1@33@@oe@2-2-2013
21792010@unknown@formal@none@1@S@UAL management was to pay $15 million for 10%, and British Air was to receive a 15% stake.@@@@1@18@@oe@2-2-2013
21792011@unknown@formal@none@1@S@The buy-out fell through when Citicorp and Chase Manhattan Corp. unexpectedly failed to obtain bank financing.@@@@1@16@@oe@2-2-2013
21792012@unknown@formal@none@1@S@Since then, UAL stock has fallen 33% in what may rank as the largest collapse of a takeover stock ever.@@@@1@20@@oe@2-2-2013
21792013@unknown@formal@none@1@S@The tenor of Mr. Stevens's remarks seemed to indicate that British Air will take a more active, high-profile role in pursuing any new bid.@@@@1@24@@oe@2-2-2013
21792014@unknown@formal@none@1@S@He said he believes UAL management was badly advised on the funding of its original transaction.@@@@1@16@@oe@2-2-2013
21792015@unknown@formal@none@1@S@Mr. Stevens said British Air hasn't received any new buy-out proposals from the labor-management group, led by UAL Chairman Stephen Wolf, and hasn't received any indication of when one might be forthcoming.@@@@1@32@@oe@2-2-2013
21792016@unknown@formal@none@1@S@"As far as we're concerned, we're waiting for the dust to settle," he said.@@@@1@14@@oe@2-2-2013
21792017@unknown@formal@none@1@S@Although British Air is waiting to see what the buy-out group comes up with, Mr. Stevens said a revised transaction with less debt leverage is likely to be more attractive to banks.@@@@1@32@@oe@2-2-2013
21792018@unknown@formal@none@1@S@He said the original proposal is dead, and all aspects of a revised version are up for change, in light of the changes in UAL's market price, the amount of debt banks are willing to fund, and the price British Air would be willing to pay.@@@@1@46@@oe@2-2-2013
21792019@unknown@formal@none@1@S@Mr. Stevens said he expects the new price will be considerably lower, but declined to specify a figure.@@@@1@18@@oe@2-2-2013
21792020@unknown@formal@none@1@S@Asked whether a $230-a-share figure circulating in the market yesterday is too low, he said, "It's certainly not too low."@@@@1@20@@oe@2-2-2013
21792021@unknown@formal@none@1@S@He added the original offer was "a pretty full price," and that British Air's contribution "was quite a large chunk for us."@@@@1@22@@oe@2-2-2013
21792022@unknown@formal@none@1@S@British Air was originally attracted to the chance of obtaining a 15% stake in the company, but wasn't particularly happy with paying $750 million.@@@@1@24@@oe@2-2-2013
21792023@unknown@formal@none@1@S@"If the {new} deal had us putting up less money but still having 15%, that would be a point in our favor," he said.@@@@1@24@@oe@2-2-2013
21792024@unknown@formal@none@1@S@In any new proposal, British Air would expect a greater rate of return than the 20%-plus in the original proposal.@@@@1@20@@oe@2-2-2013
21792025@unknown@formal@none@1@S@In the event that the buy-out group stalls in reviving its bid, the UAL board could remain under some pressure to seek another transaction, even without any legal obligation to do so.@@@@1@32@@oe@2-2-2013
21792026@unknown@formal@none@1@S@Roughly one-third of its stock is believed held by takeover stock traders, who could vote to oust the board if they become impatient.@@@@1@23@@oe@2-2-2013
21792027@unknown@formal@none@1@S@Meanwhile, the buy-out group's task of holding its fragile coalition together, in the face of the bid's collapse and internal opposition from two other employee groups, has been further complicated by an apparent rift in the ranks of the pilot union itself.@@@@1@42@@oe@2-2-2013
21792028@unknown@formal@none@1@S@A pilot representing a group of 220 pilots hired during United's 1985 strike filed suit Friday in Chicago federal court to block the takeover.@@@@1@24@@oe@2-2-2013
21792029@unknown@formal@none@1@S@The dissident pilots oppose the plan because it would cause them to lose their seniority.@@@@1@15@@oe@2-2-2013
21792030@unknown@formal@none@1@S@UAL's management agreed to reduce the seniority of those pilots in exchange for the support of the United pilot union for the buy-out proposal.@@@@1@24@@oe@2-2-2013
21792031@unknown@formal@none@1@S@The 220 pilots involved in the suit aren't members of the union.@@@@1@12@@oe@2-2-2013
21792032@unknown@formal@none@1@S@The airline had allowed them to move ahead of some union members in seniority following the 1985 strike, a move the union had contested in a previous lawsuit.@@@@1@28@@oe@2-2-2013
21792033@unknown@formal@none@1@S@Judith Valente contributed to this article.@@@@1@6@@oe@2-2-2013
21793001@unknown@formal@none@1@S@Corporate efforts to control health-care costs by requiring evaluations prior to planned hospitalization and surgery haven't been sweeping enough to reduce the long-term rate of cost increases, according to a study by the Institute of Medicine.@@@@1@36@@oe@2-2-2013
21793002@unknown@formal@none@1@S@In the last decade, many corporations have embraced the "utilization management" cost containment strategy as a way to control health-care costs for employees.@@@@1@23@@oe@2-2-2013
21793003@unknown@formal@none@1@S@These programs vary widely, but often require second opinions on proposed surgery, preadmission reviews of elective hospitalizations and reviews of treatment during illnesses or recovery periods.@@@@1@26@@oe@2-2-2013
21793004@unknown@formal@none@1@S@Between 50% and 75% of today's workers are covered by such plans, up from 5% five years ago.@@@@1@18@@oe@2-2-2013
21793005@unknown@formal@none@1@S@"Although it probably has reduced the level of expenditures for some purchasers, utilization management -- like most other cost containment strategies -- doesn't appear to have altered the long-term rate of increase in health-care costs," the Institute of Medicine, an affiliate of the National Academy of Sciences, concluded after a two-year study.@@@@1@52@@oe@2-2-2013
21793006@unknown@formal@none@1@S@"Employers who saw a short-term moderation in benefit expenditures are seeing a return to previous trends."@@@@1@16@@oe@2-2-2013
21793007@unknown@formal@none@1@S@While utilization management frequently reduces hospitalization costs, these savings are often offset by increases in outpatient services and higher administrative costs, according to the report by a panel of health-care experts.@@@@1@31@@oe@2-2-2013
21793008@unknown@formal@none@1@S@The report suggested that current review programs are too narrow.@@@@1@10@@oe@2-2-2013
21793009@unknown@formal@none@1@S@"The unnecessary and inappropriate use of the hospital, and not the actual need for a particular procedure, has been the main focus," the panel said.@@@@1@25@@oe@2-2-2013
21793010@unknown@formal@none@1@S@"As a general rule, prior-review programs have not made case-by-case assessments of the comparative costs of alternative treatments or sites of care."@@@@1@22@@oe@2-2-2013
21793011@unknown@formal@none@1@S@The report said that utilization management should have more of an impact as federal research on the effectiveness of medical treatments helps lead to medical practice guidelines.@@@@1@27@@oe@2-2-2013
21793012@unknown@formal@none@1@S@Howard Bailit, a panel member and a vice president of Aetna Life & Casualty, said that utilization management will also do a better job of containing costs as it spreads to cover medical services delivered outside of hospitals.@@@@1@38@@oe@2-2-2013
21793013@unknown@formal@none@1@S@"There's pretty good evidence that utilization management has reduced inappropriate hospitalization," he said.@@@@1@13@@oe@2-2-2013
21793014@unknown@formal@none@1@S@But at the same time, spending on physician services and ambulatory care have mushroomed.@@@@1@14@@oe@2-2-2013
21793015@unknown@formal@none@1@S@"It's like squeezing a balloon," Dr. Bailit said.@@@@1@8@@oe@2-2-2013
21793016@unknown@formal@none@1@S@David Rahill of A. Foster Higgins & Co. said that clients of his consulting firm report that utilization management reduces their hospital care bills by about 5%, but he agreed that for the health-care system as whole, some of these savings are offset by administrative and outpatient care costs.@@@@1@49@@oe@2-2-2013
21793017@unknown@formal@none@1@S@Jerome Grossman, chairman of the panel, agrees that administrative costs of utilization management programs can be high.@@@@1@17@@oe@2-2-2013
21793018@unknown@formal@none@1@S@"You have a whole staff standing ready" to evaluate the appropriateness of recommended treatment, he said.@@@@1@16@@oe@2-2-2013
21793019@unknown@formal@none@1@S@Dr. Grossman, who also is president of New England Medical Center Hospitals in Boston, noted that the hospitals he runs deal with more than 100 utilization management firms and that many of them have different procedures and requirements.@@@@1@38@@oe@2-2-2013
21793020@unknown@formal@none@1@S@The panel urged greater efforts to reduce the complexity, paperwork and cost of utilization review.@@@@1@15@@oe@2-2-2013
21793021@unknown@formal@none@1@S@"Utilization management needs to better demonstrate that it reduces the wasteful use of resources, improves the appropriateness of patient care and imposes only reasonable burdens on patients and providers," the panel concluded.@@@@1@32@@oe@2-2-2013
21794001@unknown@formal@none@1@S@Renault and DAF Trucks NV announced a preliminary agreement to jointly manufacture a line of trucks in Britain and France.@@@@1@20@@oe@2-2-2013
21794002@unknown@formal@none@1@S@Philippe Gras, a Renault managing director, said the new line will cover trucks of between 2.5 tons and 4.2 tons and will be built at Renault's Bapilly plant in France and at DAF's British plant.@@@@1@35@@oe@2-2-2013
21794003@unknown@formal@none@1@S@The French state-controlled auto group and the Dutch truck maker plan to incorporate the new trucks into their product lines when they begin production toward the middle of the 1990s.@@@@1@30@@oe@2-2-2013
21794004@unknown@formal@none@1@S@Mr. Gras said he expects a definitive agreement between the two companies to be completed in the next few months.@@@@1@20@@oe@2-2-2013
21794005@unknown@formal@none@1@S@The venture is the latest example of the trend toward cooperative projects in Europe ahead of the 1992 deadline for eliminating trade barriers within the European Community.@@@@1@27@@oe@2-2-2013
21794006@unknown@formal@none@1@S@Renault and DAF are expected to invest a total of about three billion French francs ($157.8 million) in the venture, including FFr1 billion for design and development costs.@@@@1@28@@oe@2-2-2013
21794007@unknown@formal@none@1@S@In addition, the companies will each spend about FFr1 billion on tooling up their plants.@@@@1@15@@oe@2-2-2013
21794008@unknown@formal@none@1@S@Mr. Gras said the joint venture represents considerable savings for both Renault and DAF, since both companies would in any case have had to renew their existing ranges of light goods vehicles.@@@@1@32@@oe@2-2-2013
21794009@unknown@formal@none@1@S@By pooling their resources, the two groups have effectively halved the design and development costs that would otherwise have been entailed, he said.@@@@1@23@@oe@2-2-2013
21794010@unknown@formal@none@1@S@Renault officials said the potential European market for light trucks in the 2.5-ton to 4.2-ton range is between 700,000 and 800,000 vehicles annually, and Renault and DAF are aiming for a combined market share of about 11%.@@@@1@37@@oe@2-2-2013
21794011@unknown@formal@none@1@S@Both Renault and DAF will have world-wide marketing rights for the new range of vans and light trucks.@@@@1@18@@oe@2-2-2013
21794012@unknown@formal@none@1@S@Under a separate arrangement, British Aerospace PLC's Rover Group PLC subsidiary will also be able to offer the vehicles through its dealers in the U.K., and Renault's truck-building subsidiary Renault Vehicles Industriels will have similar rights in France.@@@@1@38@@oe@2-2-2013
21794013@unknown@formal@none@1@S@DAF is 16%-owned by British Aerospace, with a further 6.5% held by the Dutch state-owned chemical group NV DSM.@@@@1@19@@oe@2-2-2013
21794014@unknown@formal@none@1@S@The van Doorne family of the Netherlands holds an additional 11% of DAF's capital.@@@@1@14@@oe@2-2-2013
21795001@unknown@formal@none@1@S@The Federal Reserve System is the standard object of suggestions for organizational and institutional changes, for two reasons.@@@@1@18@@oe@2-2-2013
21795002@unknown@formal@none@1@S@First, its position in the government is anomalous.@@@@1@8@@oe@2-2-2013
21795003@unknown@formal@none@1@S@It has an unusual kind of independence from elected officials and still has authority over one of the most powerful of government's instruments -- the control of the money supply.@@@@1@30@@oe@2-2-2013
21795004@unknown@formal@none@1@S@Thus we have a condition that is easily described as undemocratic.@@@@1@11@@oe@2-2-2013
21795005@unknown@formal@none@1@S@Second, the responsibilities of the Federal Reserve as guardian of the currency, which means as guardian of the stability of the price level, sometimes lead it to take measures that are unpopular.@@@@1@32@@oe@2-2-2013
21795006@unknown@formal@none@1@S@As former Fed Chairman William McChesney Martin used to say, they would have to take the punch bowl away just as the party is getting interesting.@@@@1@26@@oe@2-2-2013
21795007@unknown@formal@none@1@S@So the Federal Reserve is an attractive target for complaint by politicians.@@@@1@12@@oe@2-2-2013
21795008@unknown@formal@none@1@S@The Fed is easily assigned the blame for unpleasantness, like high interest rates or slow economic growth, while the politicians can escape responsibility by pointing to the Fed's independence.@@@@1@29@@oe@2-2-2013
21795009@unknown@formal@none@1@S@This leads to proposals for "reform" of the Fed, which have the common feature of making the Fed more responsive to the administration, to the Congress and to public opinion -- without, however, any assumption of additional responsibility by the politicians.@@@@1@41@@oe@2-2-2013
21795010@unknown@formal@none@1@S@These proposals include changing the term of the chairman, shortening the terms of the members, eliminating the presidents of the Federal Reserve Banks from the decision-making process, putting the Secretary of the Treasury on the Federal Reserve Board, having the Fed audited by an arm of Congress (the General Accounting Office), putting the Fed's expenditures in the budget, and requiring prompt publication of the Fed's minutes.@@@@1@66@@oe@2-2-2013
21795011@unknown@formal@none@1@S@Some of these ideas are again under consideration in Congress.@@@@1@10@@oe@2-2-2013
21795012@unknown@formal@none@1@S@But these proposals do not rest on a view of what the Fed's problem is or, if they do, they rest on an incorrect view.@@@@1@25@@oe@2-2-2013
21795013@unknown@formal@none@1@S@They would not solve the problem; they would make it worse.@@@@1@11@@oe@2-2-2013
21795014@unknown@formal@none@1@S@The problem is not that the Fed is too unresponsive to the public interest.@@@@1@14@@oe@2-2-2013
21795015@unknown@formal@none@1@S@On the contrary, it is too responsive to an incorrect view of the public interest.@@@@1@15@@oe@2-2-2013
21795016@unknown@formal@none@1@S@The price level in the U.S. is now about 4 1/4 times as high as it was 30 years ago.@@@@1@20@@oe@2-2-2013
21795017@unknown@formal@none@1@S@On average, something that cost $100 30 years ago now costs $425.@@@@1@12@@oe@2-2-2013
21795018@unknown@formal@none@1@S@Or, a wage that was $100 30 years ago would buy only $23.53 worth of stuff today.@@@@1@17@@oe@2-2-2013
21795019@unknown@formal@none@1@S@On two occasions the inflation rate rose to more than 10% a year.@@@@1@13@@oe@2-2-2013
21795020@unknown@formal@none@1@S@In each case the ending of this unsustainable inflation caused a severe recession -- the two worst of the postwar period.@@@@1@21@@oe@2-2-2013
21795021@unknown@formal@none@1@S@The enormous inflation over the past 30 years was largely due to monetary policy.@@@@1@14@@oe@2-2-2013
21795022@unknown@formal@none@1@S@At least, it would not have happened without the support of monetary policy that provided for a 10-fold increase in the money supply during the same period.@@@@1@27@@oe@2-2-2013
21795023@unknown@formal@none@1@S@And that increase in the money supply would not have happened without the consent of the Federal Reserve.@@@@1@18@@oe@2-2-2013
21795024@unknown@formal@none@1@S@The basic problem of monetary policy, to which reform of the Fed should be addressed, is to prevent a recurrence of this experience.@@@@1@23@@oe@2-2-2013
21795025@unknown@formal@none@1@S@There were two general reasons for the mistaken monetary policy of the past 30 years:@@@@1@15@@oe@2-2-2013
21795026@unknown@formal@none@1@S@1. To some extent the Federal Reserve shared the popular but incorrect view that expansionary monetary policy could yield a net improvement in employment and output.@@@@1@26@@oe@2-2-2013
21795027@unknown@formal@none@1@S@2. Even where the Fed did not share this view it felt the need to accommodate to it.@@@@1@18@@oe@2-2-2013
21795028@unknown@formal@none@1@S@Despite all the formal provisions for its independence, the Fed seems constantly to feel that if it uses its independence too freely it will lose it.@@@@1@26@@oe@2-2-2013
21795029@unknown@formal@none@1@S@The common proposals for reforming the Fed would only make the situation worse, if they had any effect at all.@@@@1@20@@oe@2-2-2013
21795030@unknown@formal@none@1@S@Putting the Secretary of the Treasury on the Board of Governors, one of the leading proposals today, is an example.@@@@1@20@@oe@2-2-2013
21795031@unknown@formal@none@1@S@The secretary is the world's biggest borrower of money.@@@@1@9@@oe@2-2-2013
21795032@unknown@formal@none@1@S@He has a built-in, constant longing for lower interest rates.@@@@1@10@@oe@2-2-2013
21795033@unknown@formal@none@1@S@Moreover, he is a political agent of a political president, who naturally gives extraordinary weight to the way the economy will perform before the next election, and less to its longer-run health.@@@@1@32@@oe@2-2-2013
21795034@unknown@formal@none@1@S@These days, the secretary suffers the further disqualification that he is a member of a club of seven finance ministers who meet occasionally to decide what exchange rates should be, which is a diversion from the real business of the Federal Reserve to stabilize the price level.@@@@1@47@@oe@2-2-2013
21795035@unknown@formal@none@1@S@How should a reasonable member of the Federal Reserve Board interpret a congressional decision to put the secretary on the board?@@@@1@21@@oe@2-2-2013
21795036@unknown@formal@none@1@S@Could he plausibly interpret it as encouragement for the Fed to give primary emphasis to stabilizing the price level?@@@@1@19@@oe@2-2-2013
21795037@unknown@formal@none@1@S@Or would he interpret it as instruction to give more weight to these other objectives that the secretary represents -- low interest rates, short-run economic expansion, and stabilization of exchange rates at internationally managed levels?@@@@1@35@@oe@2-2-2013
21795038@unknown@formal@none@1@S@The answer seems perfectly clear.@@@@1@5@@oe@2-2-2013
21795039@unknown@formal@none@1@S@(True, a succession of Fed chairmen has given color to the notion that the Secretary of the Treasury belongs on the Fed.@@@@1@22@@oe@2-2-2013
21795040@unknown@formal@none@1@S@By their constant readiness to advise all and sundry about federal budgetary matters the chairmen have encouraged the belief that fiscal policy and monetary policy are ingredients of a common stew, in which case it is natural that the Fed and the Treasury, and probably also the Congress, should be jointly engaged in stirring the pot.@@@@1@56@@oe@2-2-2013
21795041@unknown@formal@none@1@S@The Fed's case for its own independence would be a little stronger if it were more solicitous of the independence of the rest of the government.)@@@@1@26@@oe@2-2-2013
21795042@unknown@formal@none@1@S@The Fed's problem is not that it is too independent, or too unpolitical.@@@@1@13@@oe@2-2-2013
21795043@unknown@formal@none@1@S@The Fed is responsive to, and cannot help being responsive to, the more overtly political part of the government.@@@@1@19@@oe@2-2-2013
21795044@unknown@formal@none@1@S@The Fed exercises a power given to it by Congress and the president.@@@@1@13@@oe@2-2-2013
21795045@unknown@formal@none@1@S@But Congress and the president accept no responsibility for the exercise of the power they have given the Fed.@@@@1@19@@oe@2-2-2013
21795046@unknown@formal@none@1@S@Critics of the present arrangement are correct to say that it is undemocratic.@@@@1@13@@oe@2-2-2013
21795047@unknown@formal@none@1@S@What is undemocratic is the unwillingness of the more political parts of the government to take the responsibility for deciding the basic question of monetary policy, which is what priority should be given to stabilizing the price level.@@@@1@38@@oe@2-2-2013
21795048@unknown@formal@none@1@S@To leave this decision to an "independent" agency is not only undemocratic.@@@@1@12@@oe@2-2-2013
21795049@unknown@formal@none@1@S@It also prevents the conduct of a policy that has a long-term rationale, because it leaves the Fed guessing about what are the expectations of its masters, the politicians, who have never had to consider the long-term consequences of monetary policy.@@@@1@41@@oe@2-2-2013
21795050@unknown@formal@none@1@S@The greatest contribution Congress could make at this time would be to declare that stabilizing the price level is the primary responsibility of the Federal Reserve System.@@@@1@27@@oe@2-2-2013
21795051@unknown@formal@none@1@S@Legislation to this effect has been introduced in Congress in this session by Rep. Stephen Neal (D., N.C.).@@@@1@18@@oe@2-2-2013
21795052@unknown@formal@none@1@S@It is not the kind of thing that is likely to be enacted, however.@@@@1@14@@oe@2-2-2013
21795053@unknown@formal@none@1@S@Congress would be required to make a hard decision, and Congress would much prefer to leave the hard decision to the Fed and retain its rights of complaint after the fact.@@@@1@31@@oe@2-2-2013
21795054@unknown@formal@none@1@S@People will say that the nation and the government have other objectives, in addition to stabilizing the price level, which is true.@@@@1@22@@oe@2-2-2013
21795055@unknown@formal@none@1@S@But that is not the same as saying that the Federal Reserve has other objectives.@@@@1@15@@oe@2-2-2013
21795056@unknown@formal@none@1@S@The government has other agencies and instruments for pursuing these other objectives.@@@@1@12@@oe@2-2-2013
21795057@unknown@formal@none@1@S@But it has only the Fed to pursue price-level stability.@@@@1@10@@oe@2-2-2013
21795058@unknown@formal@none@1@S@And the Fed has at most very limited ability to contribute to the achievement of other objectives by means other than by stabilizing the price level.@@@@1@26@@oe@2-2-2013
21795059@unknown@formal@none@1@S@The two objectives most commonly thought to be legitimate competitors for the attention of the Fed are high employment and rapid real growth.@@@@1@23@@oe@2-2-2013
21795060@unknown@formal@none@1@S@But the main lesson of economic policy in the past 30 years is that if the Fed compromises with the price-stability objective in the pursuit of these other goals, the result is not high employment and rapid growth but is inflation.@@@@1@41@@oe@2-2-2013
21795061@unknown@formal@none@1@S@A former chairman of the president's Council of Economic Advisers, Mr. Stein is an American Enterprise Institute fellow.@@@@1@18@@oe@2-2-2013
21796001@unknown@formal@none@1@S@Republic New York Corp. joined the list of banks boosting reserves for losses on loans to less-developed countries, setting out a $200 million provision and posting a $155.4 million third-quarter net loss as a result.@@@@1@35@@oe@2-2-2013
21796002@unknown@formal@none@1@S@The per-share loss was $5.32.@@@@1@5@@oe@2-2-2013
21796003@unknown@formal@none@1@S@In the year earlier period, the New York parent of Republic National Bank had net income of $38.7 million, or $1.12 a share.@@@@1@23@@oe@2-2-2013
21796004@unknown@formal@none@1@S@Excluding the provision, Republic earned $44.6 million, up 15% from a year ago.@@@@1@13@@oe@2-2-2013
21796005@unknown@formal@none@1@S@The bank's medium-term and long-term loans to less-developed countries total $293 million, of which $146 million aren't accruing interest, the bank said.@@@@1@22@@oe@2-2-2013
21796006@unknown@formal@none@1@S@Republic's total of nonperforming assets was $167 million at Sept. 30, with its reserve for loan losses now standing at $357 million.@@@@1@22@@oe@2-2-2013
21797001@unknown@formal@none@1@S@Abortion-rights advocates won last week's battles, but the war over the nation's most-contentious social question is about to pick up again on turf that favors those seeking to restrict abortions.@@@@1@30@@oe@2-2-2013
21797002@unknown@formal@none@1@S@Strict new regulations seem certain to pass the state House in Pennsylvania next week, with easy approval by the Senate and by Democratic Gov. Bob Casey expected shortly thereafter.@@@@1@29@@oe@2-2-2013
21797003@unknown@formal@none@1@S@Legislation to require the consent of parents before their daughters under the age of 18 can have abortions will probably pass both houses of the Michigan legislature and set up a grinding battle to override the expected veto of Democratic Gov. James Blanchard.@@@@1@43@@oe@2-2-2013
21797004@unknown@formal@none@1@S@The short-term shift in the political climate surrounding abortion reflects two factors that are likely to govern the debate in the next several months: the reawakening of the abortion-rights movement as a potent force after years of lassitude, and the ability of each side to counter the other's advance in one arena with a victory of its own elsewhere.@@@@1@59@@oe@2-2-2013
21797005@unknown@formal@none@1@S@The action in Pennsylvania, for example, will follow last week's collapse of a special session of the Florida legislature to enact restrictions on abortions in that state, and the vote here in Washington by the House to permit federally paid abortions for poor women who are victims of rape or incest.@@@@1@51@@oe@2-2-2013
21797006@unknown@formal@none@1@S@But President Bush is expected to veto the congressional legislation and that, along with the easy approval of the Pennsylvania measure, is likely to mute the abortion-rights activists' claims of momentum and underline the challenges faced by this resurgent movement.@@@@1@40@@oe@2-2-2013
21797007@unknown@formal@none@1@S@"It's great to feel good for once in 15 years," says Harrison Hickman, a consultant to abortion-rights advocates, reflecting the relief of his compatriots after last week's victories, the first major events since the Supreme Court, in its July 3 Webster decision, permitted the states to enact restrictions on abortions.@@@@1@50@@oe@2-2-2013
21797008@unknown@formal@none@1@S@"But how many more times we're going to feel good in the next 15 is another question."@@@@1@17@@oe@2-2-2013
21797009@unknown@formal@none@1@S@Indeed, abortion-rights activists still face their greatest tests.@@@@1@8@@oe@2-2-2013
21797010@unknown@formal@none@1@S@"The pro-choice movement has shown -- finally -- that it can mobilize," says Glen Halva-Neubauer, a Furman University political scientist who specializes in how state legislators handle the abortion question.@@@@1@30@@oe@2-2-2013
21797011@unknown@formal@none@1@S@"But it still hasn't shown that it can win in a state like Pennsylvania or Missouri, where abortion has been clearly an electoral issue and where it's been an emotional issue for a long time."@@@@1@35@@oe@2-2-2013
21797012@unknown@formal@none@1@S@The foes of abortion hold the strong whip hand in Pennsylvania, where abortion-rights activists are so much on the defensive that their strategy is less to fight the proposed legislation than it is to stress how the state legislature doesn't reflect the viewpoints of the state's citizens.@@@@1@47@@oe@2-2-2013
21797013@unknown@formal@none@1@S@As a result, GOP state Rep. Stephen Freind of Delaware County, the legislature's leading foe of abortion, has been given all but free rein to press a strict seven-point plan to restrict abortion and, he hopes, to force the Supreme Court directly to reassess its 1973 Roe v. Wade decision that established the right of abortion in the first place.@@@@1@60@@oe@2-2-2013
21797014@unknown@formal@none@1@S@The Freind legislation -- the state's House Judiciary Committee approved it in Harrisburg this week and the full Pennsylvania House is expected to take up the bill next Tuesday -- includes a provision to ban abortions after 24 weeks of pregnancy, except to avert the death of the mother.@@@@1@49@@oe@2-2-2013
21797015@unknown@formal@none@1@S@Mr. Freind calculates that the provision, which attacks the trimester standards that Roe established, will "make it necessary" for the Supreme Court to review Roe and, perhaps, to overturn it.@@@@1@30@@oe@2-2-2013
21797016@unknown@formal@none@1@S@But the Pennsylvania measure also includes an "informed consent" provision that may become widely imitated by abortion foes who want to make women contemplating abortion as uncomfortable as possible with the procedure and with themselves.@@@@1@35@@oe@2-2-2013
21797017@unknown@formal@none@1@S@Under this legislation, a woman must be informed 24 hours before the operation of the details of the procedure and its risks.@@@@1@22@@oe@2-2-2013
21797018@unknown@formal@none@1@S@"Regardless of whether one supports or opposes the right to an abortion," Mr. Freind argues, "it is virtually impossible for any rational human being to disagree with the concept that a woman has the right to have all of the appropriate materials and advice made available to her before she makes a decision which, one way or the other, might remain with her for the rest of her life."@@@@1@69@@oe@2-2-2013
21797019@unknown@formal@none@1@S@In Michigan, where the state Senate is expected to approve parental-consent legislation by the end of next week, Gov. Blanchard is the principal obstacle for anti-abortionists.@@@@1@26@@oe@2-2-2013
21797020@unknown@formal@none@1@S@Susan Rogin, a consultant to abortion-rights activists in the state, takes comfort from the fact that the state's House abortion opponents "haven't been able to muster the votes to overturn a veto on abortion in 16 years."@@@@1@37@@oe@2-2-2013
21797021@unknown@formal@none@1@S@But proponents believe they may be able to shake enough votes loose to override the veto if they are successful in portraying the legislation as a matter of parents' rights.@@@@1@30@@oe@2-2-2013
21797022@unknown@formal@none@1@S@In Illinois, lawmakers will vote before next spring on legislation requiring physicians to perform tests on fetuses at 20 weeks to determine their gestational age, weight and lung maturity along with a provision requiring that, if fetuses survive an abortion, a second doctor must be on hand to help it survive.@@@@1@51@@oe@2-2-2013
21797023@unknown@formal@none@1@S@The legislation failed by one vote to clear the House Rules Committee Tuesday, but anti-abortionists still may succeed in bringing the measure to the floor this fall.@@@@1@27@@oe@2-2-2013
21797024@unknown@formal@none@1@S@Pamela Sutherland, executive director of the Illinois Planned Parenthood Council, says she and her allies are "cautiously optimistic" they can defeat it if it comes to a floor vote.@@@@1@29@@oe@2-2-2013
21797025@unknown@formal@none@1@S@Abortion foes in Wisconsin, meanwhile, expect a parental-consent bill to be sent to the state assembly floor by early November and are hopeful of prevailing in both houses by next March.@@@@1@31@@oe@2-2-2013
21797026@unknown@formal@none@1@S@In Texas, abortion opponents want to pass parental-consent legislation along with a statewide ban on the use of public funds, personnel and facilities for abortion, and viability tests for fetuses 19 weeks and older.@@@@1@34@@oe@2-2-2013
21797027@unknown@formal@none@1@S@The anti-abortionists are urging GOP Gov. Bill Clements to press the issues in a special session scheduled to run Nov. 14 to Dec. 13.@@@@1@24@@oe@2-2-2013
21797028@unknown@formal@none@1@S@"The prognosis is only fair," says Kathie Roberts, administrative director of the Texas Right to Life Committee.@@@@1@17@@oe@2-2-2013
21797029@unknown@formal@none@1@S@"Next year is an election year and the legislators just don't want to do anything about this now."@@@@1@18@@oe@2-2-2013
21797030@unknown@formal@none@1@S@This legislative activity comes as both sides are undertaking new mobilization efforts, plunging into gubernatorial races in Virginia and New Jersey, and girding for next autumn's state elections.@@@@1@28@@oe@2-2-2013
21797031@unknown@formal@none@1@S@At the same time, abortion foes have developed a national legislative strategy, deciding to move on what Jacki Ragan, the National Right to Life Committee's director of state organizational development, calls "reasonable measures that an overwhelming mainstream majority of Americans support."@@@@1@41@@oe@2-2-2013
21797032@unknown@formal@none@1@S@These include bans on the use of abortion for birth control and sex selection, and the public funding of alternatives for abortion.@@@@1@22@@oe@2-2-2013
21797033@unknown@formal@none@1@S@"Those who are on the other side can hardly oppose alternative funding if they continue to insist on calling themselves 'pro-choice' rather than `pro-abortion,'" says Mary Spaulding, the group's associate state legislative coordinator.@@@@1@33@@oe@2-2-2013
21797034@unknown@formal@none@1@S@Over the weekend, the National Abortion Rights Action League singled out eight politicians, including Pennsylvania's Mr. Freind, as 1990 targets and held a Washington seminar designed to train its leaders in political techniques, including how to put the anti-abortionists on the defensive in state legislatures.@@@@1@45@@oe@2-2-2013
21797035@unknown@formal@none@1@S@"We now see pro-choice legislators going on the offensive for the first time," says Kate Michelman, executive director of the group.@@@@1@21@@oe@2-2-2013
21798001@unknown@formal@none@1@S@Wall Street@@@@1@2@@oe@2-2-2013
21798002@unknown@formal@none@1@S@When I was just a child And confronted by my fears, The things that I thought would get me Had fangs and pointed ears.@@@@1@24@@oe@2-2-2013
21798003@unknown@formal@none@1@S@Nothing much has changed -- My periodic scares Are still from hostile animals, Only now, they're bulls and bears.@@@@1@19@@oe@2-2-2013
21798004@unknown@formal@none@1@S@-- Pat D'Amico.@@@@1@3@@oe@2-2-2013
21798005@unknown@formal@none@1@S@Daffynition@@@@1@1@@oe@2-2-2013
21798006@unknown@formal@none@1@S@Trained dolphins: pur-poises.@@@@1@3@@oe@2-2-2013
21798007@unknown@formal@none@1@S@-- Marrill J. Pederson.@@@@1@4@@oe@2-2-2013
21799001@unknown@formal@none@1@S@This maker and marketer of cartridge tape systems said it completed the sale of 2.85 million shares of common priced at $10 a share in an initial public offering.@@@@1@29@@oe@2-2-2013
21799002@unknown@formal@none@1@S@The company said that it is selling two million shares and that the rest are being sold by certain stockholders.@@@@1@20@@oe@2-2-2013
21799003@unknown@formal@none@1@S@Proceeds will be used for capital expenditures and working capital.@@@@1@10@@oe@2-2-2013
21799004@unknown@formal@none@1@S@Goldman, Sachs & Co. and Montgomery Securities Inc. are co-managing the offering.@@@@1@12@@oe@2-2-2013
21800001@unknown@formal@none@1@S@Congress sent President Bush an $18.4 billion fiscal 1990 Treasury and Postal Service bill providing $5.5 billion for the Internal Revenue Service and increasing the Customs Service's air-interdiction program nearly a third.@@@@1@32@@oe@2-2-2013
21800002@unknown@formal@none@1@S@Final approval came on a simple voice vote in the Senate, and the swift passage contrasted with months of negotiations over the underlying bill which is laced with special-interest provisions for both members and the executive branch.@@@@1@37@@oe@2-2-2013
21800003@unknown@formal@none@1@S@An estimated $33 million was added for university and science grants, including $1.5 million for Smith College.@@@@1@17@@oe@2-2-2013
21800004@unknown@formal@none@1@S@And Southwest lawmakers were a driving force behind $54.6 million for U.S.-Mexico border facilities, or more than double the administration's request.@@@@1@21@@oe@2-2-2013
21800005@unknown@formal@none@1@S@More than $1.8 million is allocated for pensions and expenses for former presidents, and the budget for the official residence of Vice President Quayle is more than doubled, with $200,000 designated for improvements to the property.@@@@1@36@@oe@2-2-2013
21800006@unknown@formal@none@1@S@Even the Office of Management and Budget is remembered with an extra $1 million to help offset pay costs that other government departments are being asked to absorb.@@@@1@28@@oe@2-2-2013
21800007@unknown@formal@none@1@S@Within the IRS, nearly $1.95 billion is provided for processing tax returns, a 12% increase over fiscal 1989 and double what the government was spending five years ago.@@@@1@28@@oe@2-2-2013
21800008@unknown@formal@none@1@S@Investigation and taxpayer service accounts would grow to $1.6 billion, and Congress specifically added $7.4 million for stepped up criminal investigations of money laundering related to drug traffic.@@@@1@28@@oe@2-2-2013
21800009@unknown@formal@none@1@S@The large increase in Customs Service air-interdiction funds is also intended to counter smuggling, and the annual appropriations level has more than quadrupled in five years.@@@@1@26@@oe@2-2-2013
21800010@unknown@formal@none@1@S@The $196.7 million provided for fiscal 1990 anticipates the purchase of a Lockheed P-3 surveillance aircraft and five Cessna Citation II jets.@@@@1@22@@oe@2-2-2013
21800011@unknown@formal@none@1@S@Despite administration reservations, the plan has had the quiet backing of customs officials as well as influential lawmakers from Cessna's home state, Kansas.@@@@1@23@@oe@2-2-2013
21800012@unknown@formal@none@1@S@Among legislative provisions attached to the bill is a ban on any Treasury Department expenditure for enforcement of a 1986 tax provision intended to counter discrimination in employee-benefit plans.@@@@1@29@@oe@2-2-2013
21800013@unknown@formal@none@1@S@Small-business interests have lobbied against the so-called Section 89 tax rules.@@@@1@11@@oe@2-2-2013
21800014@unknown@formal@none@1@S@Repeal is considered likely now, but the Treasury Department bill has been used as a vehicle to raise the profile of the issue and block any action in the interim.@@@@1@30@@oe@2-2-2013
21800015@unknown@formal@none@1@S@Less noticed is a bit of legislative legerdemain by Houston Republicans on behalf of HEI Corp. of Texas to retroactively "move" a Missouri hospital from one county to the next to justify higher Medicare reimbursements.@@@@1@35@@oe@2-2-2013
21800016@unknown@formal@none@1@S@The provision seeks to wipe out an estimated $1.4 million in claims made by the Health Care Finance Administration against HEI, which owned the hospital in Sullivan, Mo., during most of the four-year period -- 1983-1987 -- covered in the amendment.@@@@1@41@@oe@2-2-2013
21800017@unknown@formal@none@1@S@In a separate development, a private meeting is scheduled this morning between House Appropriations Committee Chairman Jamie Whitten (D., Miss.) and Sen. Dale Bumpers (D., Ark.) in an effort to end a dispute which for two weeks has delayed action on an estimated $44 billion agriculture bill.@@@@1@47@@oe@2-2-2013
21800018@unknown@formal@none@1@S@A House-Senate conference reached agreement Oct. 5 on virtually all major provisions of the bill, but final settlement has been stalled because of differences between the two men over the fate of a modest Arkansas-based program to provide technical information to farmers seeking to reduce their dependence on chemical fertilizers and pesticides.@@@@1@52@@oe@2-2-2013
21800019@unknown@formal@none@1@S@The program's nonprofit sponsors received $900,000 in fiscal 1989 through an Extension Service grant, but Mr. Whitten has been adamant in insisting that the program be cut in 1990.@@@@1@29@@oe@2-2-2013
21800020@unknown@formal@none@1@S@The 79-year-old Mississippian takes a more orthodox, entrenched view of agriculture policy than those in the movement to reduce chemical use, but as a master of pork-barrel politics, he is believed to be annoyed as well that the project moved to Arkansas from a Tennessee center near Memphis and the northern Mississippi border.@@@@1@53@@oe@2-2-2013
21801001@unknown@formal@none@1@S@Michael F. Klatman, director of corporate public relations at Data General Corp., was named to the new position of vice president, corporate communications, of this maker of data storage equipment.@@@@1@30@@oe@2-2-2013
21802001@unknown@formal@none@1@S@B.A.T Industries PLC may delay aspects of its defensive restructuring plan -- including the sale of its Saks Fifth Avenue and Marshall Field units -- in the wake of the current upheaval in financial markets, company officials said.@@@@1@38@@oe@2-2-2013
21802002@unknown@formal@none@1@S@The British conglomerate, planning its own defensive restructuring to fight off a #13.35 billion ($21.03 billion) takeover bid by Anglo-French financier Sir James Goldsmith, intends to press ahead with an extraordinary shareholder vote today to clear the way for its value-boosting measures.@@@@1@42@@oe@2-2-2013
21802003@unknown@formal@none@1@S@If anything, the gyrations in world stock markets -- and in B.A.T's share price -- since last Friday's sharp Wall Street sell-off have increased the likelihood of shareholder approval for the restructuring, analysts and several big institutional holders said.@@@@1@39@@oe@2-2-2013
21802004@unknown@formal@none@1@S@"Thank God we have some deal on the table," said Stewart Gilchrist, a director at Scottish Amicable Investment Managers, which intends to vote its roughly 1% stake in favor of the restructuring.@@@@1@32@@oe@2-2-2013
21802005@unknown@formal@none@1@S@Investors in B.A.T have been on a roller coaster.@@@@1@9@@oe@2-2-2013
21802006@unknown@formal@none@1@S@B.A.T has been London's best-performing blue chip over the past six months, up 40% against a 4% rise in the Financial Times 100-Share Index.@@@@1@24@@oe@2-2-2013
21802007@unknown@formal@none@1@S@But this week, B.A.T has been hit harder than other big U.K. stocks -- first by the market gyrations, then by Tuesday's San Francisco earthquake, which could leave B.A.T's Farmers Group Inc. insurance unit facing big claims.@@@@1@37@@oe@2-2-2013
21802008@unknown@formal@none@1@S@B.A.T rose five pence (eight cents) to 756 pence ($11.91) in London yesterday as a late market rally erased a 28-pence fall earlier in the day.@@@@1@26@@oe@2-2-2013
21802009@unknown@formal@none@1@S@To fight off predators, B.A.T plans to spin off about $6 billion in assets, largely by selling such U.S. retailing units as Marshall Field and Saks and by floating its big paper and U.K. retailing business via share issues to existing holders.@@@@1@42@@oe@2-2-2013
21802010@unknown@formal@none@1@S@Proceeds will help pay for a planned buy-back of 10% of its shares and a 50% dividend increase.@@@@1@18@@oe@2-2-2013
21802011@unknown@formal@none@1@S@"I think the restructuring will get the required support," said Michael Pacitti, an analyst at London stockbroker UBS Phillips & Drew.@@@@1@21@@oe@2-2-2013
21802012@unknown@formal@none@1@S@"The shareholders effectively will support the share price by clearing the share buy-back."@@@@1@13@@oe@2-2-2013
21802013@unknown@formal@none@1@S@But B.A.T's restructuring, which was never going to happen quickly, now will take longer because of the market upheaval.@@@@1@19@@oe@2-2-2013
21802014@unknown@formal@none@1@S@Company officials, holders and analysts who previously expected the disposals to be substantially complete by the end of next year's first half now say the market gyrations could delay the actions well into the second half.@@@@1@36@@oe@2-2-2013
21802015@unknown@formal@none@1@S@"We aren't forced sellers.@@@@1@4@@oe@2-2-2013
21802016@unknown@formal@none@1@S@We don't have an absolute deadline and if market conditions are truly awful we might decide it is not the right time," to take particular steps, said Michael Prideaux, a B.A.T spokesman.@@@@1@32@@oe@2-2-2013
21802017@unknown@formal@none@1@S@Even if B.A.T receives approval for the restructuring, the company will remain in play, say shareholders and analysts, though the situation may unfold over the next 12 months, rather than six.@@@@1@31@@oe@2-2-2013
21802018@unknown@formal@none@1@S@The new B.A.T will be a smaller tobacco and financial-services hybrid whose price-earnings ratio may more closely reflect the lower-growth tobacco business than the higher-multiple financial-services business, these holders believe.@@@@1@30@@oe@2-2-2013
21802019@unknown@formal@none@1@S@Thus B.A.T's restructuring may only make the company a more manageable target for other corporate predators -- possibly such acquisitive bidders as Hanson PLC.@@@@1@24@@oe@2-2-2013
21802020@unknown@formal@none@1@S@"The last few days will surely slow down the pace of events," says Scottish Amicable's Mr. Gilchrist.@@@@1@17@@oe@2-2-2013
21802021@unknown@formal@none@1@S@"But I wouldn't write off" Sir James or other potential bidders.@@@@1@11@@oe@2-2-2013
21802022@unknown@formal@none@1@S@Among possible delays, the sales of Saks and Marshall Field -- which were expected to be on the block soon after the crucial Christmas season -- may slide into the second quarter or second half.@@@@1@35@@oe@2-2-2013
21802023@unknown@formal@none@1@S@Analysts estimate that sales of the two businesses could raise roughly $2 billion.@@@@1@13@@oe@2-2-2013
21802024@unknown@formal@none@1@S@B.A.T isn't predicting a postponement because the units "are quality businesses and we are encouraged by the breadth of inquiries," said Mr. Prideaux.@@@@1@23@@oe@2-2-2013
21802025@unknown@formal@none@1@S@But the delay could happen if B.A.T doesn't get adequate bids, he said.@@@@1@13@@oe@2-2-2013
21802026@unknown@formal@none@1@S@People familiar with B.A.T say possible acquirers for the units include managers from both retailing chains, and General Cinema Corp., which is interested in bidding for Saks.@@@@1@27@@oe@2-2-2013
21802027@unknown@formal@none@1@S@Other potential bidders for parts of B.A.T's U.S. retail unit include Dillard Department Stores Inc., May Department Stores Co. and Limited Inc.@@@@1@22@@oe@2-2-2013
21802028@unknown@formal@none@1@S@B.A.T has declined to identify the potential bidders.@@@@1@8@@oe@2-2-2013
21802029@unknown@formal@none@1@S@Though Sir James has said he intends to mount a new bid for B.A.T once approval from U.S. insurance regulators is received, jitters over prospects for junk-bond financing and U.S. leverage buy-outs are making investors more skeptical about Sir James's prospects.@@@@1@41@@oe@2-2-2013
21802030@unknown@formal@none@1@S@His initial offer indicated he needed to raise as much as 80% of the takeover financing through the debt markets.@@@@1@20@@oe@2-2-2013
21802031@unknown@formal@none@1@S@Market uncertainty also clouds the outlook for B.A.T's attracting a premium price for its U.S. retailing properties.@@@@1@17@@oe@2-2-2013
21802032@unknown@formal@none@1@S@Finally, Tuesday's California earthquake initially knocked 3.7% off B.A.T's share price in London yesterday because of fears of the potential claims to Los Angeles-based Farmers, which has a substantial portion of its property and casualty exposure in California.@@@@1@38@@oe@2-2-2013
21802033@unknown@formal@none@1@S@On Farmers, Mr. Prideaux said it is too early to quantify the level of potential claims.@@@@1@16@@oe@2-2-2013
21802034@unknown@formal@none@1@S@He added B.A.T "has no expectation of a material impact on Farmers.@@@@1@12@@oe@2-2-2013
21803001@unknown@formal@none@1@S@Bridge and highway collapses will disrupt truck and auto transportation in the San Francisco Bay area for months to come.@@@@1@20@@oe@2-2-2013
21803002@unknown@formal@none@1@S@But rail, air and ocean-shipping links to the area escaped Tuesday's earthquake with only minor damage, and many are expected to be operating normally today, government and corporate transport officials said.@@@@1@31@@oe@2-2-2013
21803003@unknown@formal@none@1@S@Air traffic at San Francisco International Airport was running about 50% of normal yesterday afternoon, but airport officals said they expect a return to full operations by Saturday.@@@@1@28@@oe@2-2-2013
21803004@unknown@formal@none@1@S@The major gateway to Asia and one of the nation's 10 busiest airports was closed to all but emergency traffic from the time the quake hit Tuesday afternoon, until 6 a.m. PDT yesterday when controllers returned to the tower.@@@@1@39@@oe@2-2-2013
21803005@unknown@formal@none@1@S@Getting to and from the airport in coming weeks may be the problem, however.@@@@1@14@@oe@2-2-2013
21803006@unknown@formal@none@1@S@"People's ability to drive throughout the bay area is greatly restricted," said a spokesman for the American Automobile Association.@@@@1@19@@oe@2-2-2013
21803007@unknown@formal@none@1@S@Tom Schumacher, executive vice president and general manager of the California Trucking Association in Sacremento, said his organization urged trucking firms to halt all deliveries into the Bay area yesterday, except for emergency-medical supplies.@@@@1@34@@oe@2-2-2013
21803008@unknown@formal@none@1@S@"Some foodstuff shipments will probably resume Thursday," he said.@@@@1@9@@oe@2-2-2013
21803009@unknown@formal@none@1@S@"Right now most of the roads into the Bay area are closed, but the list of closings changes about every 20 minutes.@@@@1@22@@oe@2-2-2013
21803010@unknown@formal@none@1@S@This {Wednesday} morning the San Mateo bridge was open and now we are informed that it is closed," Mr. Schumacher said.@@@@1@21@@oe@2-2-2013
21803011@unknown@formal@none@1@S@United Parcel Service, Greenwich, Conn., said its operations in the San Francisco area have been reduced to 40% of normal.@@@@1@20@@oe@2-2-2013
21803012@unknown@formal@none@1@S@A UPS spokesman said that although none of the company's terminals, trucks or airplanes were damaged in the quake, road shutdowns and power failures have impeded its pickup and delivery of packages.@@@@1@32@@oe@2-2-2013
21803013@unknown@formal@none@1@S@The spokesman noted four-hour to five-hour traffic delays on the San Mateo bridge, for example.@@@@1@15@@oe@2-2-2013
21803014@unknown@formal@none@1@S@In addition, power failures prevented its package-sorting facilities from operating, causing delays.@@@@1@12@@oe@2-2-2013
21803015@unknown@formal@none@1@S@But freight railroads reported that damage to their facilities was relatively minor, with Santa Fe Pacific Corp.'s rail unit the least affected by the quake.@@@@1@25@@oe@2-2-2013
21803016@unknown@formal@none@1@S@Santa Fe stopped freight trains Tuesday night while its officials inspected track but resumed service at 10:45 p.m. when they found no damage.@@@@1@23@@oe@2-2-2013
21803017@unknown@formal@none@1@S@Union Pacific Corp.'s rail unit said that except for damage to shipping containers in its Oakland yard, its track, bridges and structures were unharmed.@@@@1@24@@oe@2-2-2013
21803018@unknown@formal@none@1@S@That railroad is operating trains but with delays caused by employees unable to get to work.@@@@1@16@@oe@2-2-2013
21803019@unknown@formal@none@1@S@Southern Pacific Transportation Co., the hardest hit of the three railroads in the Bay area, said service on its north-south coastline, which is used by an Amtrak train between Los Angeles and Seattle, was suspended temporarily because of kinked rails near the epicenter of the quake.@@@@1@46@@oe@2-2-2013
21803020@unknown@formal@none@1@S@But service on the line is expected to resume by noon today.@@@@1@12@@oe@2-2-2013
21803021@unknown@formal@none@1@S@"We had no serious damage on the railroad," said a Southern Pacific spokesman.@@@@1@13@@oe@2-2-2013
21803022@unknown@formal@none@1@S@"We have no problem to our freight service at all expect for the fact businesses are shut down."@@@@1@18@@oe@2-2-2013
21803023@unknown@formal@none@1@S@Amtrak said it suspended train service into its Oakland station, which sustained "heavy structural damage" during the quake.@@@@1@18@@oe@2-2-2013
21803024@unknown@formal@none@1@S@The passenger railroad said it terminated some runs in Sacramento, relying on buses to ferry passengers to the Bay area.@@@@1@20@@oe@2-2-2013
21803025@unknown@formal@none@1@S@Amtrak said it planned to resume some train operations to Oakland late yesterday.@@@@1@13@@oe@2-2-2013
21803026@unknown@formal@none@1@S@Rail-transit operations suffered little damage, according to Albert Engelken, deputy executive director of the American Public Transit Association in Washington.@@@@1@20@@oe@2-2-2013
21803027@unknown@formal@none@1@S@The Bay Area Rapid Transit "withstood the earthquake perfectly," said Mr. Engelken, adding that the rail system was running a full fleet of 45 trains during the day to provide an alternative for highway travelers.@@@@1@35@@oe@2-2-2013
21803028@unknown@formal@none@1@S@"The highway system is screwed up" by the earthquake, Mr. Engelken said.@@@@1@12@@oe@2-2-2013
21803029@unknown@formal@none@1@S@"The transit system is how people are going to be getting around."@@@@1@12@@oe@2-2-2013
21803030@unknown@formal@none@1@S@He added that San Francisco's trolley cars and trolley buses were also running at full service levels.@@@@1@17@@oe@2-2-2013
21803031@unknown@formal@none@1@S@Although air-traffic delays in San Francisco were significant yesterday, they didn't appear to spread to other airports.@@@@1@17@@oe@2-2-2013
21803032@unknown@formal@none@1@S@The earthquake shattered windows at San Francisco International's air-traffic control tower and rained pieces of the ceiling down on controllers, three of whom suffered minor injuries.@@@@1@26@@oe@2-2-2013
21803033@unknown@formal@none@1@S@Terminals at San Francisco International also were damaged, but the tower itself was intact.@@@@1@14@@oe@2-2-2013
21803034@unknown@formal@none@1@S@Tuesday night, thousands were diverted to other airports and had to wait a day to resume travel.@@@@1@17@@oe@2-2-2013
21803035@unknown@formal@none@1@S@Runways at San Francisco weren't damaged, but traffic was being limited yesterday to 27 arrivals and 27 departures an hour -- down from 33 to 45 an hour normally -- mainly because the noise level in the control tower was overwhelming without the windows, an FAA spokeswoman said.@@@@1@48@@oe@2-2-2013
21803036@unknown@formal@none@1@S@While the airport was closed, flights were diverted to airports in Sacramento and Stockton, Calif.; Reno and Las Vegas, Nev.; and Los Angeles.@@@@1@23@@oe@2-2-2013
21803037@unknown@formal@none@1@S@United Airlines, the largest carrier at San Francisco, was operating only 50% of its scheduled service in and out of the area because of damage to its terminal, which in turn was causing delays for travelers headed to the Bay area.@@@@1@41@@oe@2-2-2013
21803038@unknown@formal@none@1@S@A United spokesman said 14 of its 21 gates were unusable, mainly because of water damage caused when a sprinkler system was triggered by the tremors.@@@@1@26@@oe@2-2-2013
21803039@unknown@formal@none@1@S@The United spokesman said none of its people were injured at the airport; in fact, as the airport was being evacuated Tuesday night, two babies were born.@@@@1@27@@oe@2-2-2013
21803040@unknown@formal@none@1@S@Yesterday, the United ticket counter was active, with people trying to get flights out, but the airline said demand for seats into the city also was active, with people trying to get there to help family and friends.@@@@1@38@@oe@2-2-2013
21803041@unknown@formal@none@1@S@The airports in San Jose and Oakland were both fully operational by noon yesterday, the Federal Aviation Administration said.@@@@1@19@@oe@2-2-2013
21803042@unknown@formal@none@1@S@In terms of diversions, Denver's Stapleton International may have experienced the most far-flung: A United flight from Japan was rerouted there.@@@@1@21@@oe@2-2-2013
21803043@unknown@formal@none@1@S@"I think that's the first nonstop commercial passenger flight from Japan to land here," an airport spokesman said.@@@@1@18@@oe@2-2-2013
21803044@unknown@formal@none@1@S@A Japan Air Lines spokesman said its flights into and out of San Francisco weren't affected, but getting information about its operations was difficult.@@@@1@24@@oe@2-2-2013
21803045@unknown@formal@none@1@S@Its telecommunications headquarters in Burlingame, Calif., had been knocked out since the quake.@@@@1@13@@oe@2-2-2013
21803046@unknown@formal@none@1@S@"We're in the dark," he said.@@@@1@6@@oe@2-2-2013
21804001@unknown@formal@none@1@S@Whitbread & Co. put its spirits division up for sale, triggering a scramble among global groups for the British company's brands.@@@@1@21@@oe@2-2-2013
21804002@unknown@formal@none@1@S@Whitbread already has been approached by "about half a dozen" companies interested in buying all or part of the spirits business, a spokesman said.@@@@1@24@@oe@2-2-2013
21804003@unknown@formal@none@1@S@Analysts expect the spirits operations and some California vineyards that also are being sold to fetch about #500 million ($788.8 million).@@@@1@21@@oe@2-2-2013
21804004@unknown@formal@none@1@S@Among the brands for sale are Beefeater gin, the No. 2 imported gin in the U.S., and Laphroaig single-malt whiskey.@@@@1@20@@oe@2-2-2013
21804005@unknown@formal@none@1@S@Also for sale are Buckingham Wile Co., which distributes Cutty Sark blended whiskey in the U.S., and Whitbread's Atlas Peak Vineyards in California's Napa Valley.@@@@1@25@@oe@2-2-2013
21804006@unknown@formal@none@1@S@Beefeater alone is worth as much as #300 million, analysts said.@@@@1@11@@oe@2-2-2013
21804007@unknown@formal@none@1@S@Whitbread bought the Beefeater distillery two years ago for #174.5 million.@@@@1@11@@oe@2-2-2013
21804008@unknown@formal@none@1@S@That purchase represented an attempt by Whitbread, a venerable British brewer, to become a major player in the global liquor business.@@@@1@21@@oe@2-2-2013
21804009@unknown@formal@none@1@S@But Whitbread has been squeezed by giant rivals amid widespread consolidation in the industry.@@@@1@14@@oe@2-2-2013
21804010@unknown@formal@none@1@S@Now, it wants to concentrate on beer and its newer hotel and restaurant operations.@@@@1@14@@oe@2-2-2013
21804011@unknown@formal@none@1@S@For rival liquor companies, the Whitbread auction is a rare opportunity to acquire valuable brands.@@@@1@15@@oe@2-2-2013
21804012@unknown@formal@none@1@S@"It's not very often something like this comes up," said Ron Littleboy, a liquor company analyst at Nomura Research Institute in London.@@@@1@22@@oe@2-2-2013
21804013@unknown@formal@none@1@S@"The division will be sold off quite rapidly," predicted Neill Junor, an analyst at London brokers County NatWest WoodMac.@@@@1@19@@oe@2-2-2013
21804014@unknown@formal@none@1@S@Among possible buyers, Grand Metropolitan PLC might find Beefeater a useful addition to its portfolio.@@@@1@15@@oe@2-2-2013
21804015@unknown@formal@none@1@S@Grand Met owns Bombay gin, the No. 3 imported gin in the U.S.; rival Guinness PLC has the No. 1 imported brand, Tanqueray.@@@@1@23@@oe@2-2-2013
21804016@unknown@formal@none@1@S@The Whitbread spirits auction "is an extremely interesting development . . . and naturally we'll be considering it carefully," a Grand Met spokesman said.@@@@1@24@@oe@2-2-2013
21804017@unknown@formal@none@1@S@Guinness, which owns several leading whiskey brands plus Gordon's gin, the world's No. 1 gin, is considered less likely to bid for the Whitbread spirits.@@@@1@25@@oe@2-2-2013
21804018@unknown@formal@none@1@S@A Guinness spokesman declined to comment.@@@@1@6@@oe@2-2-2013
21804019@unknown@formal@none@1@S@Two other global liquor giants, Canada's Seagram Co. and Britain's Allied-Lyons PLC, also are possible buyers.@@@@1@16@@oe@2-2-2013
21804020@unknown@formal@none@1@S@Seagram's gin is the world's No. 2 gin brand, but the company doesn't own any of the major gin brands imported in the U.S.@@@@1@24@@oe@2-2-2013
21804021@unknown@formal@none@1@S@Allied-Lyons, while powerful in whiskey, doesn't own any major white-spirit brands.@@@@1@11@@oe@2-2-2013
21804022@unknown@formal@none@1@S@"We will certainly have to take a look at" the Whitbread spirits business, an Allied-Lyons spokesman said.@@@@1@17@@oe@2-2-2013
21804023@unknown@formal@none@1@S@"We would certainly like to have a major white-spirits brand in our portfolio."@@@@1@13@@oe@2-2-2013
21804024@unknown@formal@none@1@S@A Seagram spokesman in New York wouldn't comment.@@@@1@8@@oe@2-2-2013
21804025@unknown@formal@none@1@S@Smaller liquor companies, such as Brown-Forman Corp. and American Brands Inc. of the U.S., also are likely to be interested.@@@@1@20@@oe@2-2-2013
21804026@unknown@formal@none@1@S@Such companies "are increasingly being left behind" in the global liquor business, says Nomura's Mr. Littleboy.@@@@1@16@@oe@2-2-2013
21804027@unknown@formal@none@1@S@In New York, a spokesman for American Brands wouldn't comment.@@@@1@10@@oe@2-2-2013
21804028@unknown@formal@none@1@S@Brown-Forman, a Louisville, Ky. distiller, also declined to comment.@@@@1@9@@oe@2-2-2013
21804029@unknown@formal@none@1@S@Whitbread's wine, spirits and soft-drink operations had trading profit of #35.4 million on sales of #315.5 million in the year ended Feb. 25.@@@@1@23@@oe@2-2-2013
21804030@unknown@formal@none@1@S@The company, which is retaining most of its wine and all of its soft-drink interests, didn't break out results for the businesses it plans to sell.@@@@1@26@@oe@2-2-2013
21804031@unknown@formal@none@1@S@But analysts estimate their trading profit at #30 million.@@@@1@9@@oe@2-2-2013
21804032@unknown@formal@none@1@S@Whitbread had total pretax profit in the year ended Feb. 25 of #223.2 million, on sales of #2.26 billion.@@@@1@19@@oe@2-2-2013
21804033@unknown@formal@none@1@S@Whitbread's spirits auction occurs amid a parallel shakeup in the British beer industry.@@@@1@13@@oe@2-2-2013
21804034@unknown@formal@none@1@S@Earlier this year, the government announced plans to foster increased competition in the industry.@@@@1@14@@oe@2-2-2013
21804035@unknown@formal@none@1@S@British brewers currently own thousands of pubs, which in turn sell only the breweries' beer and soft drinks.@@@@1@18@@oe@2-2-2013
21804036@unknown@formal@none@1@S@Under new rules, many of the country's pubs would become "free houses," selling beers of their choice.@@@@1@17@@oe@2-2-2013
21804037@unknown@formal@none@1@S@Whitbread now intends to bolster its brewing interests, in an effort to grab a share of sales to free houses.@@@@1@20@@oe@2-2-2013
21804038@unknown@formal@none@1@S@The company, which last month paid #50.7 million for regional British brewer Boddington Group PLC, has about 13% of the British beer market.@@@@1@23@@oe@2-2-2013
21804039@unknown@formal@none@1@S@Whitbread also owns the license to brew and distribute Heineken and Stella Artois beers in Britain.@@@@1@16@@oe@2-2-2013
21804040@unknown@formal@none@1@S@In addition, Whitbread intends to focus on its newer hotel, liquor store and restaurant businesses in Europe and North America.@@@@1@20@@oe@2-2-2013
21804041@unknown@formal@none@1@S@In Britain, those interests include the Beefeater steakhouse chain and joint ownership with PepsiCo Inc. of the country's Pizza Hut chain.@@@@1@21@@oe@2-2-2013
21804042@unknown@formal@none@1@S@In Canada and the U.S., Whitbread owns The Keg chain of steak and seafood restaurants.@@@@1@15@@oe@2-2-2013
21804043@unknown@formal@none@1@S@Focusing on beer, restaurants and hotels means "we can concentrate our skills and resources more effectively," Peter Jarvis, Whitbread's managing director, said in a statement.@@@@1@25@@oe@2-2-2013
21804044@unknown@formal@none@1@S@The spirits business "would require substantial additional investment to enable it to compete effectively in the first division of global players."@@@@1@21@@oe@2-2-2013
21804045@unknown@formal@none@1@S@Whitbread also announced that Mr. Jarvis, who is 48, will become the company's chief executive March 1.@@@@1@17@@oe@2-2-2013
21804046@unknown@formal@none@1@S@At that time Sam Whitbread, the company's chairman and a descendant of its 18th-century founder, will retire from executive duties.@@@@1@20@@oe@2-2-2013
21804047@unknown@formal@none@1@S@He will retain the honorary title of non-executive chairman.@@@@1@9@@oe@2-2-2013
21805001@unknown@formal@none@1@S@The Treasury plans to raise $700 million in new cash with the sale Tuesday of about $10 billion in two-year notes to redeem $9.29 billion in maturing notes.@@@@1@28@@oe@2-2-2013
21805002@unknown@formal@none@1@S@The offering will be dated Oct. 31 and mature Oct. 31,@@@@1@11@@oe@2-2-2013
21805003@unknown@formal@none@1@S@Tenders for the notes, available in minimum $5,000 denominations, must be received by 1 p.m. EDT Tuesday at the Treasury or at Federal Reserve banks or branches.@@@@1@27@@oe@2-2-2013
21806001@unknown@formal@none@1@S@NEWHALL LAND & FARMING Co., Valencia, Calif., announced a 2-for-1 split in the real estate limited partnership's units and increased its regular quarterly cash distribution 33%, to 40 cents a unit.@@@@1@31@@oe@2-2-2013
21806002@unknown@formal@none@1@S@The real estate limited partnership also said it will pay a special year-end cash distribution of 10 cents a unit.@@@@1@20@@oe@2-2-2013
21806003@unknown@formal@none@1@S@Both distributions are payable Dec. 4 to limited partners of record Nov. 3.@@@@1@13@@oe@2-2-2013
21807001@unknown@formal@none@1@S@Mellon Bank Corp. said directors authorized the buy-back of as many as 250,000 common shares.@@@@1@15@@oe@2-2-2013
21807002@unknown@formal@none@1@S@The bank holding company said stock repurchased will be used to meet requirements for the company's benefit plans.@@@@1@18@@oe@2-2-2013
21807003@unknown@formal@none@1@S@Mellon has 36.6 million shares outstanding.@@@@1@6@@oe@2-2-2013
21808001@unknown@formal@none@1@S@Champion International Corp.'s third-quarter profit dropped 17%, reflecting price declines for certain paper products, operating problems at certain mills, and other factors.@@@@1@22@@oe@2-2-2013
21808002@unknown@formal@none@1@S@The paper producer reported that net income fell to $102.1 million, or $1.09 a share, from $122.4 million, or $1.29 a share, in the year-earlier period.@@@@1@26@@oe@2-2-2013
21808003@unknown@formal@none@1@S@Sales rose 2.6% to $1.32 billion from $1.29 billion.@@@@1@9@@oe@2-2-2013
21808004@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Champion's shares rose 25 cents to $32.125.@@@@1@14@@oe@2-2-2013
21809001@unknown@formal@none@1@S@Digital Equipment Corp. is planning a big coming-out party on Tuesday for its first line of mainframe computers.@@@@1@18@@oe@2-2-2013
21809002@unknown@formal@none@1@S@But an uninvited guest is expected to try to crash the party.@@@@1@12@@oe@2-2-2013
21809003@unknown@formal@none@1@S@On the morning of the long-planned announcement, International Business Machines Corp. is to introduce its own new mainframe.@@@@1@18@@oe@2-2-2013
21809004@unknown@formal@none@1@S@"Their attitude is, `You want to talk mainframes, we'll talk mainframes,'" says one computer industry executive.@@@@1@16@@oe@2-2-2013
21809005@unknown@formal@none@1@S@"They're deliberately trying to steal our thunder," a Digital executive complains.@@@@1@11@@oe@2-2-2013
21809006@unknown@formal@none@1@S@"Maybe we should take it as a compliment."@@@@1@8@@oe@2-2-2013
21809007@unknown@formal@none@1@S@Digital's target is the $40 billion market for mainframe computers, the closet-sized number-crunchers that nearly every big company needs to run its business.@@@@1@23@@oe@2-2-2013
21809008@unknown@formal@none@1@S@IBM, based in Armonk, N.Y., has dominated the market for decades.@@@@1@11@@oe@2-2-2013
21809009@unknown@formal@none@1@S@That doesn't scare Digital, which has grown to be the world's second-largest computer maker by poaching customers of IBM's mid-range machines.@@@@1@21@@oe@2-2-2013
21809010@unknown@formal@none@1@S@Digital, based in Maynard, Mass., hopes to stage a repeat performance in mainframes, and it has spent almost $1 billion developing the new technology.@@@@1@24@@oe@2-2-2013
21809011@unknown@formal@none@1@S@A spoiler, nimble Tandem Computers Inc. in Cupertino, Calif., jumped into the fray earlier this week with an aggressively priced entry.@@@@1@21@@oe@2-2-2013
21809012@unknown@formal@none@1@S@IBM appears more worried about Digital, which has a broad base of customers waiting for the new line, dubbed the VAX 9000.@@@@1@22@@oe@2-2-2013
21809013@unknown@formal@none@1@S@"It's going to be nuclear war," says Thomas Willmott, a consultant with Aberdeen Group Inc.@@@@1@15@@oe@2-2-2013
21809014@unknown@formal@none@1@S@The surge in competition is expected to stir new life into the huge mainframe market, where growth has slowed to single digits in recent years.@@@@1@25@@oe@2-2-2013
21809015@unknown@formal@none@1@S@IBM's traditional mainframe rivals, including Unisys Corp., Control Data Corp. and NCR Corp., have struggled recently.@@@@1@16@@oe@2-2-2013
21809016@unknown@formal@none@1@S@Digital is promising a new approach.@@@@1@6@@oe@2-2-2013
21809017@unknown@formal@none@1@S@Robert M. Glorioso, Digital's vice president for high performance systems, says Digital's mainframe is designed not as a central computer around which everything revolves, but as part of a decentralized network weaving together hundreds of workstations, personal computers, printers and other devices.@@@@1@42@@oe@2-2-2013
21809018@unknown@formal@none@1@S@And unlike IBM's water-cooled mainframes, it doesn't need any plumbing.@@@@1@10@@oe@2-2-2013
21809019@unknown@formal@none@1@S@The challengers will have a big price advantage.@@@@1@8@@oe@2-2-2013
21809020@unknown@formal@none@1@S@Digital is expected to tag its new line from about $1.24 million to $4.4 million and up, depending on configuration.@@@@1@20@@oe@2-2-2013
21809021@unknown@formal@none@1@S@That's about half the price of comparably equipped IBM mainframes.@@@@1@10@@oe@2-2-2013
21809022@unknown@formal@none@1@S@Tandem's pricing is just as aggressive.@@@@1@6@@oe@2-2-2013
21809023@unknown@formal@none@1@S@The heightened competition will hit IBM at a difficult time.@@@@1@10@@oe@2-2-2013
21809024@unknown@formal@none@1@S@The computer giant's current mainframe line, which has sold well and has huge profit margins, is starting to show its age.@@@@1@21@@oe@2-2-2013
21809025@unknown@formal@none@1@S@The new 3090s due next week will boost performance by only about 8% to 10%.@@@@1@15@@oe@2-2-2013
21809026@unknown@formal@none@1@S@And IBM isn't expected to deliver a new generation of mainframes until 1991.@@@@1@13@@oe@2-2-2013
21809027@unknown@formal@none@1@S@Still, no one expects IBM's rivals to deliver a knockout.@@@@1@10@@oe@2-2-2013
21809028@unknown@formal@none@1@S@IBM has a near-monopoly on mainframes, with an estimated 70% share of the market.@@@@1@14@@oe@2-2-2013
21809029@unknown@formal@none@1@S@IBM is five times the size of Digital -- and 40 times the size of Tandem -- and wields enormous market power.@@@@1@22@@oe@2-2-2013
21809030@unknown@formal@none@1@S@It counts among its customers a majority of the world's largest corporations, which entrust their most critical business information to IBM computers.@@@@1@22@@oe@2-2-2013
21809031@unknown@formal@none@1@S@"We're not going to walk in and replace a company's corporate accounting system if it's already running on an IBM mainframe," concedes Kenneth H. Olsen, Digital's president.@@@@1@27@@oe@2-2-2013
21809032@unknown@formal@none@1@S@He says Digital will target faster-growing market segments such as on-line transaction processing, which includes retail-sales tracking, airline reservations and bank-teller networks.@@@@1@22@@oe@2-2-2013
21809033@unknown@formal@none@1@S@Tandem, which already specializes in on-line transaction processing, is a potent competitor in that market.@@@@1@15@@oe@2-2-2013
21809034@unknown@formal@none@1@S@A key marketing target for Digital will be the large number of big customers who already own both Digital and IBM systems.@@@@1@22@@oe@2-2-2013
21809035@unknown@formal@none@1@S@One such company is Bankers Trust Co.@@@@1@7@@oe@2-2-2013
21809036@unknown@formal@none@1@S@Stanley Rose, a vice president, technological and strategic planning at Bankers Trust, says that despite Digital's low prices, "we aren't about to unplug our IBM mainframes for a DEC machine.@@@@1@30@@oe@2-2-2013
21809037@unknown@formal@none@1@S@The software conversion costs would dwarf any savings."@@@@1@8@@oe@2-2-2013
21809038@unknown@formal@none@1@S@But Mr. Rose is still looking seriously at the 9000.@@@@1@10@@oe@2-2-2013
21809039@unknown@formal@none@1@S@Bankers Trust uses Digital's VAX to run its huge money-transfer and capital markets accounts, juggling hundreds of billions of dollars each day, he says.@@@@1@24@@oe@2-2-2013
21809040@unknown@formal@none@1@S@As that system grows, larger computers may be needed.@@@@1@9@@oe@2-2-2013
21809041@unknown@formal@none@1@S@"In the past, customers had to go to IBM when they outgrew the VAX.@@@@1@14@@oe@2-2-2013
21809042@unknown@formal@none@1@S@Now they don't have to," he says.@@@@1@7@@oe@2-2-2013
21809043@unknown@formal@none@1@S@"That's going to cost IBM revenue."@@@@1@6@@oe@2-2-2013
21809044@unknown@formal@none@1@S@Analysts say Digital can expect this pent-up demand for the new VAX to fuel strong sales next year.@@@@1@18@@oe@2-2-2013
21809045@unknown@formal@none@1@S@Barry F. Willman, an analyst at Sanford C. Bernstein & Co., estimates the 9000 could boost sales by more than $1 billion in the fiscal year beginning in July.@@@@1@29@@oe@2-2-2013
21809046@unknown@formal@none@1@S@He bases the estimate on a survey of hundreds of Digital's largest customers.@@@@1@13@@oe@2-2-2013
21809047@unknown@formal@none@1@S@Although Digital will announce a full family of mainframes next week, it isn't expected to begin shipping in volume until next year.@@@@1@22@@oe@2-2-2013
21809048@unknown@formal@none@1@S@The first model available will be the 210, which is likely to appeal to many technical and scientific buyers interested in the optional super-charger, or vector processor, says Terry Shannon of International Data Corp., a market research concern.@@@@1@38@@oe@2-2-2013
21809049@unknown@formal@none@1@S@Four more models, aimed squarely at IBM's commercial customers, are expected to begin shipping in late June.@@@@1@17@@oe@2-2-2013
21809050@unknown@formal@none@1@S@Most analysts don't expect the new mainframes to begin contributing significantly to revenue before the fiscal first quarter, which begins next July 1.@@@@1@23@@oe@2-2-2013
21809051@unknown@formal@none@1@S@Digital's new line has been a long time coming.@@@@1@9@@oe@2-2-2013
21809052@unknown@formal@none@1@S@The company has long struggled to deliver a strong mainframe-class product, and made a costly decision in 1988 to halt development of an interim product meant to stem the revenue losses at the high end.@@@@1@35@@oe@2-2-2013
21809053@unknown@formal@none@1@S@Digital's failure to deliver a true mainframe-class machine before now may have cost the company as much as $1 billion in revenue in fiscal 1989, Mr. Willman says.@@@@1@28@@oe@2-2-2013
21809054@unknown@formal@none@1@S@IBM will face still more competition in coming months.@@@@1@9@@oe@2-2-2013
21809055@unknown@formal@none@1@S@Amdahl Corp., backed by Japan's Fujitsu Ltd., has a growing share of the market with its low-priced, IBM-compatible machines.@@@@1@19@@oe@2-2-2013
21809056@unknown@formal@none@1@S@And National Advanced Systems, a joint venture of Japan's Hitachi Ltd. and General Motors Corp.'s Electronic Data Systems, is expected to unveil a line of powerful IBM-compatible mainframes later this year.@@@@1@31@@oe@2-2-2013
21809057@unknown@formal@none@1@S@NOTE:@@@@1@1@@oe@2-2-2013
21809058@unknown@formal@none@1@S@NAS is National Advanced Systems, CDC -- Control Data Corp., Bull NH Information Systems Inc.@@@@1@15@@oe@2-2-2013
21809059@unknown@formal@none@1@S@Source: International Data Corp.@@@@1@4@@oe@2-2-2013
21809060@unknown@formal@none@1@S@Compiled by Publishers Weekly from data from large-city bookstores, bookstore chains and local bestseller lists across the U.S.@@@@1@18@@oe@2-2-2013
21809061@unknown@formal@none@1@S@Copyright 1989 by Reed Publishing USA.@@@@1@6@@oe@2-2-2013
21810001@unknown@formal@none@1@S@The frenetic stock and bond markets cooled off, but the dollar slumped.@@@@1@12@@oe@2-2-2013
21810002@unknown@formal@none@1@S@Stocks rose slightly as trading activity slowed from the frenzied pace earlier this week.@@@@1@14@@oe@2-2-2013
21810003@unknown@formal@none@1@S@Prices of long-term Treasury bonds hovered in a narrow band most of the day, finishing little changed despite the dollar's weakness and fears about a wave of government borrowing coming soon.@@@@1@31@@oe@2-2-2013
21810004@unknown@formal@none@1@S@Helped by futures-related program buying, the Dow Jones Industrial Average gained 4.92 points to close at 2643.65.@@@@1@17@@oe@2-2-2013
21810005@unknown@formal@none@1@S@But the Dow Jones Transportation Average fell for the seventh-consecutive session as more investors dumped UAL shares.@@@@1@17@@oe@2-2-2013
21810006@unknown@formal@none@1@S@Bond prices rallied early yesterday morning as traders scrambled to buy Treasury issues on fears that the Northern California earthquake might lead to a stock-market debacle.@@@@1@26@@oe@2-2-2013
21810007@unknown@formal@none@1@S@But when stocks held steady, Treasury bonds later retreated.@@@@1@9@@oe@2-2-2013
21810008@unknown@formal@none@1@S@Speculation that the Federal Reserve will lower interest rates in coming weeks helped push the dollar down while boosting stocks, traders said.@@@@1@22@@oe@2-2-2013
21810009@unknown@formal@none@1@S@But many investors remain wary about stocks, partly because they expect continued turbulence in the junk-bond market that would make it more difficult to finance corporate takeovers.@@@@1@27@@oe@2-2-2013
21810010@unknown@formal@none@1@S@"I'm surprised we didn't see more volatility" in stocks, said Raymond F. DeVoe Jr., market strategist at Legg Mason Wood Walker.@@@@1@21@@oe@2-2-2013
21810011@unknown@formal@none@1@S@"I think the problems in the junk-bond area are just beginning, and this will be very unsettling for companies that have issued junk bonds.@@@@1@24@@oe@2-2-2013
21810012@unknown@formal@none@1@S@In a bull market, credit does not matter," Mr. DeVoe added.@@@@1@11@@oe@2-2-2013
21810013@unknown@formal@none@1@S@"But when it does matter, then it's the only thing that matters."@@@@1@12@@oe@2-2-2013
21810014@unknown@formal@none@1@S@However, many institutional investors are reacting to the stock market's plunge as "a great buying opportunity," said Charles I. Clough, chief investment strategist at Merrill Lynch Capital Markets.@@@@1@28@@oe@2-2-2013
21810015@unknown@formal@none@1@S@"Things are beginning to settle down.@@@@1@6@@oe@2-2-2013
21810016@unknown@formal@none@1@S@The markets are returning to normalcy."@@@@1@6@@oe@2-2-2013
21810017@unknown@formal@none@1@S@Oil prices initially rose on fears that the massive earthquake in Northern California would disrupt production.@@@@1@16@@oe@2-2-2013
21810018@unknown@formal@none@1@S@But prices later reversed course, finishing slightly lower, as investors concluded that any cuts wouldn't be large and that foreign oil producers would quickly pick up the slack.@@@@1@28@@oe@2-2-2013
21810019@unknown@formal@none@1@S@In major market activity:@@@@1@4@@oe@2-2-2013
21810020@unknown@formal@none@1@S@Stock prices rose.@@@@1@3@@oe@2-2-2013
21810021@unknown@formal@none@1@S@New York Stock Exchange volume shrank to 166.9 million shares from 224.1 million Tuesday.@@@@1@14@@oe@2-2-2013
21810022@unknown@formal@none@1@S@Advancers on the Big Board outpaced decliners by 822 to 668.@@@@1@11@@oe@2-2-2013
21810023@unknown@formal@none@1@S@Bond prices were little changed in sluggish activity.@@@@1@8@@oe@2-2-2013
21810024@unknown@formal@none@1@S@The yield on the Treasury's 30-year issue fell slightly to 8.03%.@@@@1@11@@oe@2-2-2013
21810025@unknown@formal@none@1@S@The dollar dropped.@@@@1@3@@oe@2-2-2013
21810026@unknown@formal@none@1@S@In New York late yesterday, the currency was at 141.45 yen and 1.8485 marks, down from 142.75 yen and 1.8667 marks late Tuesday.@@@@1@23@@oe@2-2-2013
21811001@unknown@formal@none@1@S@James L. Madson, 46 years old, was named a vice president and assistant general manager of this producer of copper and other minerals.@@@@1@23@@oe@2-2-2013
21811002@unknown@formal@none@1@S@He will succeed Arthur E. Himebaugh as general manager Feb. 1, when Mr. Himebaugh retires.@@@@1@15@@oe@2-2-2013
21812001@unknown@formal@none@1@S@AMR Corp. posted an 8.8% drop in third-quarter net income and said the fourth quarter will be "disappointing" as well, primarily because of slimmer profit margins and increased fuel costs.@@@@1@30@@oe@2-2-2013
21812002@unknown@formal@none@1@S@AMR's earnings decline comes a year after the parent company of American Airlines and the rest of the airline industry set profit records.@@@@1@23@@oe@2-2-2013
21812003@unknown@formal@none@1@S@Some analysts say the latest results only seem pale by comparison with a spectacular second half of 1988.@@@@1@18@@oe@2-2-2013
21812004@unknown@formal@none@1@S@Still, AMR's stumble doesn't bode well for the rest of the industry.@@@@1@12@@oe@2-2-2013
21812005@unknown@formal@none@1@S@The Fort Worth, Texas, company is generally regarded as one of the best-run in the business, and its difficulties are likely to be reflected industrywide as other major carriers report third-quarter results over the next several days.@@@@1@37@@oe@2-2-2013
21812006@unknown@formal@none@1@S@Meanwhile, the company's board, which had said nothing publicly about investor Donald Trump's recently withdrawn $7.5 billion offer for AMR, issued a statement condemning "ill-conceived and reckless" bids and saying it was "pleased" that Mr. Trump had backed out.@@@@1@39@@oe@2-2-2013
21812007@unknown@formal@none@1@S@In the third quarter, AMR said, net fell to $137 million, or $2.16 a share, from $150.3 million, or $2.50 a share.@@@@1@22@@oe@2-2-2013
21812008@unknown@formal@none@1@S@Revenue rose 17% to $2.73 billion from $2.33 billion a year earlier.@@@@1@12@@oe@2-2-2013
21812009@unknown@formal@none@1@S@AMR's chairman, Robert L. Crandall, said the results were due to an 11% year-to-year increase in fuel prices and a slight decrease in yield, an industry measure analogous to profit margin on each seat sold.@@@@1@35@@oe@2-2-2013
21812010@unknown@formal@none@1@S@"We think these trends will continue and will produce a very disappointing fourth quarter as well," he said.@@@@1@18@@oe@2-2-2013
21812011@unknown@formal@none@1@S@Tim Pettee, an analyst with Merrill Lynch & Co., said: "The business turned faster than expected.@@@@1@16@@oe@2-2-2013
21812012@unknown@formal@none@1@S@Costs are giving them a little bit of trouble, and the whole industry is having a pricing problem."@@@@1@18@@oe@2-2-2013
21812013@unknown@formal@none@1@S@For the nine months, AMR's net rose 15% to $415.9 million, or $6.59 a share, from $360.1 million, or $5.99 a share.@@@@1@22@@oe@2-2-2013
21812014@unknown@formal@none@1@S@Revenue jumped 22% to $7.89 billion from $6.46 billion.@@@@1@9@@oe@2-2-2013
21812015@unknown@formal@none@1@S@AMR's board, in a statement after a regular meeting yesterday, said: "Ill-considered and reckless acquisition proposals adversely affect employee, financial and business relationships and are contrary to the best interests of AMR shareholders. . . .@@@@1@36@@oe@2-2-2013
21812016@unknown@formal@none@1@S@AMR has not been, and is not, for sale."@@@@1@9@@oe@2-2-2013
21812017@unknown@formal@none@1@S@Mr. Crandall said the company's current decline in earnings is exactly the kind of situation that an excessively leveraged company laden with debt from a takeover would find difficult to weather.@@@@1@31@@oe@2-2-2013
21812018@unknown@formal@none@1@S@"Our very disappointing third-quarter results and the discouraging outlook for the fourth quarter underscore the importance of an adequate capital base," he said.@@@@1@23@@oe@2-2-2013
21813001@unknown@formal@none@1@S@Christopher Whittington, 51-year-old deputy chairman of this British investment-banking group and chairman of Morgan Grenfell & Co., the group's main banking unit, has retired from his executive duties.@@@@1@28@@oe@2-2-2013
21813002@unknown@formal@none@1@S@Succeeding Mr. Whittington as deputy chairman of the group is Anthony Richmond-Watson, 43, currently a main board member.@@@@1@18@@oe@2-2-2013
21813003@unknown@formal@none@1@S@Succeeding Mr. Whittington at Morgan Grenfell & Co. is Richard Webb, 50, currently deputy chairman.@@@@1@15@@oe@2-2-2013
21813004@unknown@formal@none@1@S@Mr. Whittington will remain on the main group board as a nonexecutive director.@@@@1@13@@oe@2-2-2013
21814001@unknown@formal@none@1@S@Without federal subsidies to developers of beach houses, the economic and structural damage by Hurricane Hugo in South Carolina would have been much less, as highlighted by your Oct. 3 editorial "Subsidizing Disaster."@@@@1@33@@oe@2-2-2013
21814002@unknown@formal@none@1@S@Congress should stop throwing tax dollars out to sea by subsidizing the development of beach communities on ecologically fragile coastal barrier islands, such as the hard-hit Isle of Palms near Charleston.@@@@1@31@@oe@2-2-2013
21814003@unknown@formal@none@1@S@As you mentioned, subsidies for development on a number of barrier islands were curtailed in 1982 by the Coastal Barrier Resource System.@@@@1@22@@oe@2-2-2013
21814004@unknown@formal@none@1@S@The National Taxpayers Union would like Congress to add 800,000 acres to the 453,000 of shoreline in the system by enacting "The Coastal Barrier Improvement Act of 1989."@@@@1@28@@oe@2-2-2013
21814005@unknown@formal@none@1@S@This bill simply says that if you want to develop property on a barrier island you have to do so without taxpayer support.@@@@1@23@@oe@2-2-2013
21814006@unknown@formal@none@1@S@Private-property rights would be upheld because the legislation would not ban coastal development.@@@@1@13@@oe@2-2-2013
21814007@unknown@formal@none@1@S@However, home builders would have to bear the full costs of such beach-house construction.@@@@1@14@@oe@2-2-2013
21814008@unknown@formal@none@1@S@A Taxpayers Union study concluded the bill would save taxpayers up to $9.3 billion in barrier-island subsidies over 20 years.@@@@1@20@@oe@2-2-2013
21814009@unknown@formal@none@1@S@Already, the 1982 legislation has saved an estimated $800 million.@@@@1@10@@oe@2-2-2013
21814010@unknown@formal@none@1@S@Marshall Y. Taylor@@@@1@3@@oe@2-2-2013
21814011@unknown@formal@none@1@S@Communications Director@@@@1@2@@oe@2-2-2013
21814012@unknown@formal@none@1@S@National Taxpayers Union@@@@1@3@@oe@2-2-2013
21815001@unknown@formal@none@1@S@The government said 13.1% of Americans, or 31.9 million people, were living in poverty in 1988.@@@@1@16@@oe@2-2-2013
21815002@unknown@formal@none@1@S@While last year's figure was down from 13.4% in 1987 and marked the fifth consecutive annual decline in the poverty rate, the Census Bureau said the 1988 drop wasn't statistically significant.@@@@1@31@@oe@2-2-2013
21815003@unknown@formal@none@1@S@The bureau's report also showed that while some measures of the nation's economic well-being improved modestly in 1988, the fruits of prosperity were shared less equitably than the year before.@@@@1@30@@oe@2-2-2013
21815004@unknown@formal@none@1@S@Summarizing data derived from a March 1989 survey of 58,000 households, William Butz, associate director of the Census Bureau, said that "most groups either stayed the same or improved."@@@@1@29@@oe@2-2-2013
21815005@unknown@formal@none@1@S@But, he added, "Since the late 1960s, the distribution of income has been slowly getting less equal.@@@@1@17@@oe@2-2-2013
21815006@unknown@formal@none@1@S@There was no reversal {of that trend} between 1987 and 1988."@@@@1@11@@oe@2-2-2013
21815007@unknown@formal@none@1@S@Per capita income, a widely used measure of a nation's economic health, hit a record in 1988, rising 1.7% after inflation adjustment to $13,120.@@@@1@24@@oe@2-2-2013
21815008@unknown@formal@none@1@S@But the median income of American families fell 0.2%, the first time it has failed to rise since 1982.@@@@1@19@@oe@2-2-2013
21815009@unknown@formal@none@1@S@Mr. Butz said the divergence in the two measures reflects changes in family size and structure, including the rising number of female-headed families and a sharp increase in income reported by Americans who aren't living in families.@@@@1@37@@oe@2-2-2013
21815010@unknown@formal@none@1@S@As a result of last year's decline, the government's estimate for the number of people living below the poverty line declined by about 500,000.@@@@1@24@@oe@2-2-2013
21815011@unknown@formal@none@1@S@The poverty threshold, defined as three times food expenses as calculated by the Agricultural Department, last year was $12,092 for a family of four.@@@@1@24@@oe@2-2-2013
21815012@unknown@formal@none@1@S@The Census Bureau counts all cash income in determining whether families are below the line, but it doesn't consider other government benefits, such as Medicare.@@@@1@25@@oe@2-2-2013
21815013@unknown@formal@none@1@S@Thanks largely to the continued growth of the U.S. economy, the poverty rate is now substantially lower than the 1983 peak of 15.3%, but the improvements have been modest in the past couple of years.@@@@1@35@@oe@2-2-2013
21815014@unknown@formal@none@1@S@Poverty remains far more widespread among blacks than other Americans.@@@@1@10@@oe@2-2-2013
21815015@unknown@formal@none@1@S@In 1988, 31.6% of blacks lived in poverty, compared with 10.1% for whites and 26.8% for Hispanics.@@@@1@17@@oe@2-2-2013
21815016@unknown@formal@none@1@S@But two-thirds of all poor Americans were white.@@@@1@8@@oe@2-2-2013
21815017@unknown@formal@none@1@S@More than half of poor families were headed by women living without men, the bureau said.@@@@1@16@@oe@2-2-2013
21815018@unknown@formal@none@1@S@More than three-fourths of poor black families were headed by women.@@@@1@11@@oe@2-2-2013
21815019@unknown@formal@none@1@S@The poverty rate of children under 18 years old dropped last year to 19.7% from 20.5% in 1987, but remained far higher than a decade ago.@@@@1@26@@oe@2-2-2013
21815020@unknown@formal@none@1@S@The rate among the elderly -- 12% in 1988 -- wasn't significantly lower than the year before.@@@@1@17@@oe@2-2-2013
21815021@unknown@formal@none@1@S@If it weren't for Social Security payments, more than three times as many elderly would be below the poverty line, Mr. Butz said.@@@@1@23@@oe@2-2-2013
21815022@unknown@formal@none@1@S@The Census Bureau also said:@@@@1@5@@oe@2-2-2013
21815023@unknown@formal@none@1@S@-- Some 17.2% of all money income received by families in 1988 went to the wealthiest 5% of all families, up from 16.9% in 1987.@@@@1@25@@oe@2-2-2013
21815024@unknown@formal@none@1@S@That is the greatest share reported for any year since 1950, although changing definitions over the years distort the comparison.@@@@1@20@@oe@2-2-2013
21815025@unknown@formal@none@1@S@-- The top fifth of all families got 44% of the income, up from 41.5% a decade earlier.@@@@1@18@@oe@2-2-2013
21815026@unknown@formal@none@1@S@The bottom fifth of all families got 4.6% of the income, down from 5.2% a decade earlier.@@@@1@17@@oe@2-2-2013
21815027@unknown@formal@none@1@S@-- Confirming other government data showing that wages aren't keeping pace with inflation, earnings of year-round, full-time male workers fell 1.3% in 1988 after adjusting for higher prices, the first such drop since 1982.@@@@1@34@@oe@2-2-2013
21815028@unknown@formal@none@1@S@Earnings of female workers were unchanged.@@@@1@6@@oe@2-2-2013
21815029@unknown@formal@none@1@S@-- Women working full-time earned 66 cents for every dollar earned by men, a penny more than in 1987 and seven cents more than in 1978.@@@@1@26@@oe@2-2-2013
21815030@unknown@formal@none@1@S@-- Median household income -- which includes both those living in families and those who aren't -- rose 0.3% last year to $27,225 after inflation.@@@@1@25@@oe@2-2-2013
21815031@unknown@formal@none@1@S@It rose sharply in the Northeast and Midwest and fell slightly in the South and West.@@@@1@16@@oe@2-2-2013
21815032@unknown@formal@none@1@S@Median family income was $32,191, down 0.2%.@@@@1@7@@oe@2-2-2013
21815033@unknown@formal@none@1@S@-- Per capita income of blacks, though still only 60% that of whites, rose 3.9% in 1988, while per capita income of whites rose only 1.5%.@@@@1@26@@oe@2-2-2013
21815034@unknown@formal@none@1@S@-- Among married couples, the gap between blacks and whites narrowed sharply, as income of black families shot up 6.8% while income of whites didn't budge.@@@@1@26@@oe@2-2-2013
21815035@unknown@formal@none@1@S@Fueling a controversy that has been simmering for years, the Census Bureau also said its figures would look far rosier if it recalculated the poverty threshold using an improved consumer-price measure adopted in 1983.@@@@1@34@@oe@2-2-2013
21815036@unknown@formal@none@1@S@The bureau said some 3.5 million fewer people would have fallen below the poverty line in 1988 -- and the poverty rate would have been 10.5% instead of 13.1% -- under the alternative calculation.@@@@1@34@@oe@2-2-2013
21815037@unknown@formal@none@1@S@Critics on the left and right have been calling for all sorts of revisions to the measure for years.@@@@1@19@@oe@2-2-2013
21815038@unknown@formal@none@1@S@A report by the staff of the Joint Economic Committee of Congress released yesterday concluded, "It is misleading to make this change without adjusting for other changes."@@@@1@27@@oe@2-2-2013
21815039@unknown@formal@none@1@S@The official poverty threshold is set by the Office of Management and Budget.@@@@1@13@@oe@2-2-2013
21816001@unknown@formal@none@1@S@John E. Hayes Jr. was elected chairman, president and chief executive officer, succeeding David S. Black, who retired.@@@@1@18@@oe@2-2-2013
21816002@unknown@formal@none@1@S@Mr. Hayes, 52 years old, left Southwestern Bell Telephone Co. in January, where he had been chairman, president and chief executive, to join Triad Capital Partners, a St. Louis company with interests in solid waste and recycling, telecommunications and international venture capital.@@@@1@42@@oe@2-2-2013
21816003@unknown@formal@none@1@S@He has resigned his posts at Triad to take the Kansas Power positions.@@@@1@13@@oe@2-2-2013
21816004@unknown@formal@none@1@S@Kansas Power said Mr. Black, 61, chose early retirement.@@@@1@9@@oe@2-2-2013
21817001@unknown@formal@none@1@S@The space shuttle Atlantis boosted the Galileo spacecraft on its way to Jupiter, giving a big lift as well to an ambitious U.S. program of space exploration.@@@@1@27@@oe@2-2-2013
21817002@unknown@formal@none@1@S@Seven years late in the launching, $1 billion over budget and a target of anti-nuclear protestors, Galileo has long been a symbol of trouble for the National Aeronautics and Space Administration.@@@@1@31@@oe@2-2-2013
21817003@unknown@formal@none@1@S@But yesterday, as Atlantis rumbled into a patch of clear sky above Florida with storm clouds closing in on it, NASA sought to turn Galileo into a symbol of triumph.@@@@1@30@@oe@2-2-2013
21817004@unknown@formal@none@1@S@"NASA did it right; that's the message," said J.R. Thompson, the agency's deputy administrator.@@@@1@14@@oe@2-2-2013
21817005@unknown@formal@none@1@S@The $1.4 billion robot spacecraft faces a six-year journey to explore Jupiter and its 16 known moons.@@@@1@17@@oe@2-2-2013
21817006@unknown@formal@none@1@S@If all goes well, it will parachute a probe into the dense Jovian atmosphere in July 1995 to pick up detailed data about gases that may be similar to the material from which the solar system was formed 4.6 billion years ago.@@@@1@42@@oe@2-2-2013
21817007@unknown@formal@none@1@S@Jupiter is so enormous -- its mass is 318 times that of Earth -- that its gravity may have trapped these primordial gases and never let them escape.@@@@1@28@@oe@2-2-2013
21817008@unknown@formal@none@1@S@Investigating Jupiter in detail may provide clues to what astronomer Tobias Owen calls the "cosmic paradox" of life: Jupiter and other bodies in the outer solar system are rich in elements such as hydrogen that are essential for life on Earth, but these planets are lifeless; Earth, on the other hand, has a diminished store of such material but is rich in life.@@@@1@63@@oe@2-2-2013
21817009@unknown@formal@none@1@S@Some scientists have suggested that comets and asteroids may have brought enough of this kind of material from the outer solar system to Earth to spawn life.@@@@1@27@@oe@2-2-2013
21817010@unknown@formal@none@1@S@Beginning in December 1995, Galileo will begin a two-year tour of the Jovian moons.@@@@1@14@@oe@2-2-2013
21817011@unknown@formal@none@1@S@In 1979, two Voyager spacecraft sent back stunning photos of Jovian moons Io and Europa that showed them to be among the most intriguing bodies in the solar system.@@@@1@29@@oe@2-2-2013
21817012@unknown@formal@none@1@S@The photos showed active geysers on Io spewing sulfurous material 190 miles into its atmosphere and indicated that Europa may have an ocean hidden under a thick sheet of ice.@@@@1@30@@oe@2-2-2013
21817013@unknown@formal@none@1@S@Galileo's photos of Europa will be more than 1,000 times as sharp as Voyager's, according to Torrence Johnson, Galileo's project scientist, and may show whether it actually has the only known ocean other than those on Earth.@@@@1@37@@oe@2-2-2013
21817014@unknown@formal@none@1@S@Atlantis lifted Galileo from the launch pad at 12:54 p.m. EDT and released the craft from its cargo bay about six hours later.@@@@1@23@@oe@2-2-2013
21817015@unknown@formal@none@1@S@"Galileo is on its way to another world in the hands of the best flight controllers in this world," Atlantis Commander Donald Williams said.@@@@1@24@@oe@2-2-2013
21817016@unknown@formal@none@1@S@"Fly safely."@@@@1@2@@oe@2-2-2013
21817017@unknown@formal@none@1@S@The five-member Atlantis crew will conduct several experiments, including growing plants and processing polymeric materials in space, before their scheduled landing at Edwards Air Force Base, Calif., Monday.@@@@1@28@@oe@2-2-2013
21817018@unknown@formal@none@1@S@The Galileo project started in 1977, and a number of project veterans were on hand to watch the launch.@@@@1@19@@oe@2-2-2013
21817019@unknown@formal@none@1@S@An ebullient Mr. Johnson, wearing a NASA baseball cap and carrying a camera and binoculars, called the launch "fantastic."@@@@1@19@@oe@2-2-2013
21817020@unknown@formal@none@1@S@Benny Chin, manager of the Galileo probe, compared it to watching a child leave home.@@@@1@15@@oe@2-2-2013
21817021@unknown@formal@none@1@S@"I'm happy and sad," he said.@@@@1@6@@oe@2-2-2013
21817022@unknown@formal@none@1@S@Anti-nuclear activists took a less positive view.@@@@1@7@@oe@2-2-2013
21817023@unknown@formal@none@1@S@Having argued that Galileo's plutonium power source could have released lethal doses of radiation if the shuttle exploded yesterday, they weren't quieted by yesterday's successful launch.@@@@1@26@@oe@2-2-2013
21817024@unknown@formal@none@1@S@Galileo will skim past Earth in 1990 and 1992, collecting energy from the planet's gravitational field to gain momentum for its trip to Jupiter.@@@@1@24@@oe@2-2-2013
21817025@unknown@formal@none@1@S@The protesters point out that Galileo also could crash to Earth then.@@@@1@12@@oe@2-2-2013
21817026@unknown@formal@none@1@S@They said they dropped plans to infiltrate the Kennedy Space Center after NASA beefed up its security.@@@@1@17@@oe@2-2-2013
21817027@unknown@formal@none@1@S@One protest did get past NASA's guard, though; a computer virus caused anti-Galileo messages to flash onto some computer screens at NASA centers.@@@@1@23@@oe@2-2-2013
21817028@unknown@formal@none@1@S@The successful launch continues a remarkable recovery in the U.S. space-science program.@@@@1@12@@oe@2-2-2013
21817029@unknown@formal@none@1@S@An unmanned spacecraft, Magellan, already is heading to Venus and is due to begin mapping the planet next August.@@@@1@19@@oe@2-2-2013
21817030@unknown@formal@none@1@S@Voyager 2 sent back spectacular photos of Neptune and its moon, Triton, this summer.@@@@1@14@@oe@2-2-2013
21817031@unknown@formal@none@1@S@Next month, NASA plans to launch a satellite to study cosmic rays dating from the birth of the universe.@@@@1@19@@oe@2-2-2013
21817032@unknown@formal@none@1@S@In December, the shuttle Columbia will try to retrieve a satellite that's been in orbit for nearly five years measuring the deleterious effects of space on materials and instruments.@@@@1@29@@oe@2-2-2013
21817033@unknown@formal@none@1@S@Next March, the shuttle Discovery will launch the Hubble space telescope, a $1.5 billion instrument designed to see the faintest galaxies in the universe.@@@@1@24@@oe@2-2-2013
21817034@unknown@formal@none@1@S@Not all of NASA's space-science work will be so auspicious, though.@@@@1@11@@oe@2-2-2013
21817035@unknown@formal@none@1@S@Around Thanksgiving, the Solar Max satellite, which NASA repaired in orbit in 1984, will tumble back into the Earth's atmosphere.@@@@1@20@@oe@2-2-2013
21817036@unknown@formal@none@1@S@NASA won't attempt a rescue; instead, it will try to predict whether any of the rubble will smash to the ground and where.@@@@1@23@@oe@2-2-2013
21818001@unknown@formal@none@1@S@The Associated Press's earthquake coverage drew attention to a phenomenon that deserves some thought by public officials and other policy makers.@@@@1@21@@oe@2-2-2013
21818002@unknown@formal@none@1@S@Private relief agencies, such as the Salvation Army and Red Cross, mobilized almost instantly to help people, while the Washington bureaucracy "took hours getting into gear."@@@@1@26@@oe@2-2-2013
21818003@unknown@formal@none@1@S@One news show we saw yesterday even displayed 25 federal officials meeting around a table.@@@@1@15@@oe@2-2-2013
21818004@unknown@formal@none@1@S@We recall that the mayor of Charleston complained bitterly about the federal bureaucracy's response to Hurricane Hugo.@@@@1@17@@oe@2-2-2013
21818005@unknown@formal@none@1@S@The sense grows that modern public bureaucracies simply don't perform their assigned functions well.@@@@1@14@@oe@2-2-2013
21819001@unknown@formal@none@1@S@Bally Manufacturing Corp. and New York developer Donald Trump have agreed in principle to a $6.5 million settlement of shareholder litigation stemming from Bally's alleged greenmail payment to Mr. Trump.@@@@1@30@@oe@2-2-2013
21819002@unknown@formal@none@1@S@According to lawyers familiar with the settlement talks, the verbal agreement to end a lawsuit filed more than two years ago was reached last week and will soon be submitted to a federal judge in Camden, N.J.@@@@1@37@@oe@2-2-2013
21819003@unknown@formal@none@1@S@In February 1987, Bally thwarted a possible hostile takeover bid from Mr. Trump by agreeing to buy 2.6 million of Mr. Trump's 3.1 million Bally shares for $83.7 million -- more than $18 million above market price.@@@@1@37@@oe@2-2-2013
21819004@unknown@formal@none@1@S@The term greenmail refers to a situation where a company pays a premium over market value to repurchase a stake held by a potential acquirer.@@@@1@25@@oe@2-2-2013
21819005@unknown@formal@none@1@S@Lawyers for shareholders, Bally and Mr. Trump all declined to talk publicly about the proposed settlement, citing a request by a federal court magistrate not to reveal details of the agreement until it is completed.@@@@1@35@@oe@2-2-2013
21819006@unknown@formal@none@1@S@But some attorneys who are familiar with the matter said the $6.5 million payment will be shared by Bally and Mr. Trump, with the casino and hotel concern probably paying the bulk of the money.@@@@1@35@@oe@2-2-2013
21819007@unknown@formal@none@1@S@The amount Bally and Mr. Trump will pay to settle the class-action suit pales in comparison to the $45 million Walt Disney Co. and Saul Steinberg's Reliance Group Holdings Inc. agreed to pay to settle a similar suit in July.@@@@1@40@@oe@2-2-2013
21819008@unknown@formal@none@1@S@That settlement represented the first time shareholders were granted a major payment in a greenmail case.@@@@1@16@@oe@2-2-2013
21819009@unknown@formal@none@1@S@Mr. Steinberg made a $59.7 million profit on the sale to Disney of his investment in the company in 1984.@@@@1@20@@oe@2-2-2013
21819010@unknown@formal@none@1@S@But lawyers said Mr. Steinberg probably faced much more potential liability because, when he sued Disney during his takeover battle, he filed on behalf of all shareholders.@@@@1@27@@oe@2-2-2013
21819011@unknown@formal@none@1@S@When Disney offered to pay Mr. Steinberg a premium for his shares, the New York investor didn't demand the company also pay a premium to other shareholders.@@@@1@27@@oe@2-2-2013
21819012@unknown@formal@none@1@S@When Mr. Trump sued Bally, he sued only on behalf of himself.@@@@1@12@@oe@2-2-2013
21819013@unknown@formal@none@1@S@Mr. Trump and Bally also appeared to have some leverage in the case because in the state of Delaware, where Bally is incorporated, courts have held that greenmail is often protected by the business-judgment rule.@@@@1@35@@oe@2-2-2013
21819014@unknown@formal@none@1@S@That rule gives boards of directors wide latitude in deciding how to deal with dissident shareholders.@@@@1@16@@oe@2-2-2013
21819015@unknown@formal@none@1@S@SENATE HEARS final arguments in impeachment trial of federal judge.@@@@1@10@@oe@2-2-2013
21819016@unknown@formal@none@1@S@Yesterday, U.S. Judge Alcee Hastings faced his jury -- the full U.S. Senate -- and said, "I am not guilty of having committed any crime."@@@@1@25@@oe@2-2-2013
21819017@unknown@formal@none@1@S@Seventeen articles of impeachment against the Florida judge, one of the few blacks on the U.S. bench, were approved by the House in August 1988.@@@@1@25@@oe@2-2-2013
21819018@unknown@formal@none@1@S@The central charge against Judge Hastings is that he conspired with a Washington lawyer to obtain a $150,000 bribe from defendants in a criminal case before the judge, in return for leniency.@@@@1@32@@oe@2-2-2013
21819019@unknown@formal@none@1@S@He is also accused of lying under oath and of leaking information obtained from a wiretap he supervised.@@@@1@18@@oe@2-2-2013
21819020@unknown@formal@none@1@S@The Senate's public gallery was packed with Judge Hastings' supporters, who erupted into applause after he finished his argument.@@@@1@19@@oe@2-2-2013
21819021@unknown@formal@none@1@S@Judge Hastings, who was acquitted of similar charges by a federal jury in 1983, claims he is being victimized and that the impeachment proceedings against him constitute double jeopardy.@@@@1@29@@oe@2-2-2013
21819022@unknown@formal@none@1@S@But Rep. John Bryant (D., Texas), the lead counsel for the House managers who conducted a lengthy inquiry into Judge Hastings' activities, said "a mountain of evidence points to his certain guilt."@@@@1@32@@oe@2-2-2013
21819023@unknown@formal@none@1@S@The Senate will deliberate behind closed doors today and is scheduled to vote on the impeachment tomorrow.@@@@1@17@@oe@2-2-2013
21819024@unknown@formal@none@1@S@If the judge is impeached, as is thought likely, he will be removed from office immediately.@@@@1@16@@oe@2-2-2013
21819025@unknown@formal@none@1@S@However, Judge Hastings has said he will continue to fight and is contemplating an appeal of any impeachment to the U.S. Supreme Court.@@@@1@23@@oe@2-2-2013
21819026@unknown@formal@none@1@S@COMPANIES SEEKING to make insurers pay for pollution cleanup win court victory.@@@@1@12@@oe@2-2-2013
21819027@unknown@formal@none@1@S@In a case involving Avondale Industries Inc. and its insurer, Travelers Cos., the Second U.S. Circuit Court of Appeals in New York ruled in favor of the company on two issues that lawyers say are central to dozens of pollution cases around the country.@@@@1@44@@oe@2-2-2013
21819028@unknown@formal@none@1@S@Travelers and other insurers have maintained that cleanup costs aren't damages and thus aren't covered under commercial policies.@@@@1@18@@oe@2-2-2013
21819029@unknown@formal@none@1@S@They also have argued that government proceedings notifying a company of potential responsibility don't fit the legal definition of a lawsuit; thus, such governmental proceedings aren't covered by the policies, the insurers say.@@@@1@33@@oe@2-2-2013
21819030@unknown@formal@none@1@S@The appeals court disagreed on both counts.@@@@1@7@@oe@2-2-2013
21819031@unknown@formal@none@1@S@Avondale was notified by Louisiana officials in 1986 that it was potentially responsible for a cleanup at an oil-recycling plant.@@@@1@20@@oe@2-2-2013
21819032@unknown@formal@none@1@S@Avondale asked Travelers to defend it in the state proceeding, but the insurer didn't respond.@@@@1@15@@oe@2-2-2013
21819033@unknown@formal@none@1@S@The appeals court upheld a district judge's ruling that the insurer had to defend the company in such proceedings.@@@@1@19@@oe@2-2-2013
21819034@unknown@formal@none@1@S@The appeals court also said, "We think an ordinary businessman reading this policy would have believed himself covered for the demands and potential damage claims" stemming from any cleanup.@@@@1@29@@oe@2-2-2013
21819035@unknown@formal@none@1@S@"This decision will have a very considerable impact," said Kenneth Abraham, professor of environmental law and insurance law at the University of Virginia, because many commercial insurance policies are issued by companies based in New York.@@@@1@36@@oe@2-2-2013
21819036@unknown@formal@none@1@S@William Greaney, an attorney for the Chemical Manufacturers Association, said that while other appeals courts have ruled differently on whether cleanup costs are damages, the influence of the appeals court in New York "will make insurers sit up and listen."@@@@1@40@@oe@2-2-2013
21819037@unknown@formal@none@1@S@He said the decision was the first in which a federal appeals court has ruled whether administrative government proceedings qualify as litigation.@@@@1@22@@oe@2-2-2013
21819038@unknown@formal@none@1@S@Barry R. Ostrager, an attorney for Travelers, said, "there are procedural bases on which this case will be appealed further."@@@@1@20@@oe@2-2-2013
21819039@unknown@formal@none@1@S@NEW YORK'S poor face nearly three million legal problems a year without legal help.@@@@1@14@@oe@2-2-2013
21819040@unknown@formal@none@1@S@That is the conclusion of a report released by the New York State Bar Association.@@@@1@15@@oe@2-2-2013
21819041@unknown@formal@none@1@S@The report was based on a telephone survey of 1,250 low-income households across the state, a mail survey of major legal-services programs and on-site interviews with individuals in the field.@@@@1@30@@oe@2-2-2013
21819042@unknown@formal@none@1@S@"The report provides detailed documentation of the extent and nature of the problem and indicates how we may want to shape solutions," said Joseph Genova, chairman of the committee that oversaw the survey and a partner at the law firm of Milbank, Tweed, Hadley & McCloy.@@@@1@46@@oe@2-2-2013
21819043@unknown@formal@none@1@S@According to the study, slightly more than 34% of those surveyed reported having at least one housing problem every year for which they had no legal help.@@@@1@27@@oe@2-2-2013
21819044@unknown@formal@none@1@S@Nearly 36% ranked housing problems as their most serious unmet legal need.@@@@1@12@@oe@2-2-2013
21819045@unknown@formal@none@1@S@Other areas targeted by the survey's respondents included difficulty obtaining or maintaining public benefits (22%), consumer fraud (15.4%), and health-care issues (15%).@@@@1@22@@oe@2-2-2013
21819046@unknown@formal@none@1@S@During the 15-month survey, 43% of all legal-services programs said that at some period they were unable to accept new clients unless they had an emergency.@@@@1@26@@oe@2-2-2013
21819047@unknown@formal@none@1@S@Mr. Genova said the committee may meet to propose solutions to the problems identified in the study.@@@@1@17@@oe@2-2-2013
21819048@unknown@formal@none@1@S@PROSECUTOR TO JOIN Gibson Dunn:@@@@1@5@@oe@2-2-2013
21819049@unknown@formal@none@1@S@Assistant U.S. Attorney Randy Mastro, who headed the government's racketeering case against the International Brotherhood of Teamsters, will join Gibson, Dunn & Crutcher in its New York office.@@@@1@28@@oe@2-2-2013
21819050@unknown@formal@none@1@S@Mr. Mastro has been with the New York U.S. attorney's office for nearly five years.@@@@1@15@@oe@2-2-2013
21819051@unknown@formal@none@1@S@In 1987 he became deputy chief of the civil division.@@@@1@10@@oe@2-2-2013
21819052@unknown@formal@none@1@S@Mr. Mastro will do civil litigation and white-collar defense work for Gibson Dunn, which is based in Los Angeles.@@@@1@19@@oe@2-2-2013
21819053@unknown@formal@none@1@S@FORMER APPLE COMPUTER Inc. general counsel John P. Karalis has joined the Phoenix, Ariz., law firm of Brown & Bain.@@@@1@20@@oe@2-2-2013
21819054@unknown@formal@none@1@S@Mr. Karalis, 51, will specialize in corporate law and international law at the 110-lawyer firm.@@@@1@15@@oe@2-2-2013
21819055@unknown@formal@none@1@S@Before joining Apple in 1986, Mr. Karalis served as general counsel at Sperry Corp.@@@@1@14@@oe@2-2-2013
21820001@unknown@formal@none@1@S@After failing to find a buyer for the Sears Tower in Chicago, Sears, Roebuck & Co. is negotiating with Boston pension fund adviser Aldrich, Eastman & Waltch Inc. to refinance the property for close to $850 million, according to people close to the negotiations.@@@@1@44@@oe@2-2-2013
21820002@unknown@formal@none@1@S@Under the proposed agreement involving the world's tallest building, Chicago-based Sears would receive about half the money through conventional mortgage financing and the other half as a convertible mortgage.@@@@1@29@@oe@2-2-2013
21820003@unknown@formal@none@1@S@At the end of the term of the convertible loan, Sears could still own half the building, and AEW could own the other half.@@@@1@24@@oe@2-2-2013
21820004@unknown@formal@none@1@S@Neither side would comment.@@@@1@4@@oe@2-2-2013
21820005@unknown@formal@none@1@S@The parties are currently negotiating over who would manage the building, which will be emptied of 6,000 employees from Sears' merchandise group, which is moving elsewhere.@@@@1@26@@oe@2-2-2013
21820006@unknown@formal@none@1@S@The new manager will face the daunting task of leasing 1.8 million square feet in a relatively soft Chicago real estate market.@@@@1@22@@oe@2-2-2013
21820007@unknown@formal@none@1@S@Also, it has not yet been decided exactly how much of the mortgage AEW will be able to convert into equity.@@@@1@21@@oe@2-2-2013
21820008@unknown@formal@none@1@S@Convertible mortgages have become an increasingly popular way to finance prestigious buildings of late.@@@@1@14@@oe@2-2-2013
21820009@unknown@formal@none@1@S@In a convertible mortgage, the investor lends the building owner a certain amount in return for the option to convert its interest into equity, usually less than 50%, at the end of the loan term.@@@@1@35@@oe@2-2-2013
21820010@unknown@formal@none@1@S@During the term, the lender can either receive a percentage of cash flow, a percentage of the building's appreciation or a fixed return.@@@@1@23@@oe@2-2-2013
21820011@unknown@formal@none@1@S@The main advantage of a convertible mortgage is that it is not a sale and therefore does not trigger costly transfer taxes and reappraisal.@@@@1@24@@oe@2-2-2013
21820012@unknown@formal@none@1@S@Sears said it would put the 110-story tower on the block almost a year ago as part of its anti-takeover restructuring.@@@@1@21@@oe@2-2-2013
21820013@unknown@formal@none@1@S@But Japanese institutions shied away from bidding on the high-profile tower out of fear their purchase of the property would trigger anti-Japanese sentiment.@@@@1@23@@oe@2-2-2013
21820014@unknown@formal@none@1@S@Last summer, Sears appeared to have a deal with Canadian developer Olympia & York Developments Ltd.@@@@1@16@@oe@2-2-2013
21820015@unknown@formal@none@1@S@But that deal fell through in September after it became clear that the sale would lead to a major real estate tax reassessment, raising property taxes, and making it difficult to lease the building at competitive prices.@@@@1@37@@oe@2-2-2013
21820016@unknown@formal@none@1@S@Real estate industry executives said Sears' investment banker, Goldman, Sachs & Co., sought financing in Japan.@@@@1@16@@oe@2-2-2013
21820017@unknown@formal@none@1@S@However, Japanese authorities apparently were concerned that a refinancing also would attract too much publicity.@@@@1@15@@oe@2-2-2013
21820018@unknown@formal@none@1@S@Sears then went back to AEW, the Boston pension adviser that had proposed a convertible debt deal during the first round of bids last spring.@@@@1@25@@oe@2-2-2013
21820019@unknown@formal@none@1@S@AEW has $3.5 billion of real estate investments nationwide, according to a spokesman.@@@@1@13@@oe@2-2-2013
21821001@unknown@formal@none@1@S@Tandy Corp. said it signed a definitive agreement to acquire two units of Datatronic AB of Stockholm for cash.@@@@1@19@@oe@2-2-2013
21821002@unknown@formal@none@1@S@The amount wasn't disclosed.@@@@1@4@@oe@2-2-2013
21821003@unknown@formal@none@1@S@The electronics maker and retailer previously estimated the sale price at between $100 million and $200 million for Datatronic's Victor microcomputer and Micronic hand-held computer subsidiaries.@@@@1@26@@oe@2-2-2013
21821004@unknown@formal@none@1@S@In addition, Tandy will acquire rights to the Victor and Micronic names for computers.@@@@1@14@@oe@2-2-2013
21821005@unknown@formal@none@1@S@During 1988, the Datatronic subsidiaries had combined sales in excess of $200 million.@@@@1@13@@oe@2-2-2013
21821006@unknown@formal@none@1@S@The transaction will give Tandy a well-known European computer brand that includes 2,700 dealers and distributors marketing to medium-sized business and educational institutions.@@@@1@23@@oe@2-2-2013
21821007@unknown@formal@none@1@S@Closing of the transaction is subject to certain conditions and regulatory approvals, the company said.@@@@1@15@@oe@2-2-2013
21822001@unknown@formal@none@1@S@Two rules in pending congressional legislation threaten to hinder leveraged buy-outs by raising the price tags of such deals by as much as 10%.@@@@1@24@@oe@2-2-2013
21822002@unknown@formal@none@1@S@Wall Street is seething over the rules, which would curtail the tax deductibility of debt used in most LBOs.@@@@1@19@@oe@2-2-2013
21822003@unknown@formal@none@1@S@The provisions, in deficit-reduction bills recently passed by the House and Senate, could further cool the takeover boom that has been the driving force behind the bull market in stocks for much of the 1980s, some tax experts and investment bankers argue.@@@@1@42@@oe@2-2-2013
21822004@unknown@formal@none@1@S@Indeed, some investment bankers have already started restructuring deals to cope with the expected rules.@@@@1@15@@oe@2-2-2013
21822005@unknown@formal@none@1@S@Wall Street has all but conceded on the issue and is now lobbying for the less onerous Senate version of one of the provisions.@@@@1@24@@oe@2-2-2013
21822006@unknown@formal@none@1@S@At issue is the deductibility of certain junk bonds that are used in most LBOs.@@@@1@15@@oe@2-2-2013
21822007@unknown@formal@none@1@S@Such high-yield debt is similar to a zero-coupon bond in that it is sold at a discount to face value, with interest accruing instead of being paid to the holder.@@@@1@30@@oe@2-2-2013
21822008@unknown@formal@none@1@S@Under current rules, that accrued interest is deductible by the company issuing the debt.@@@@1@14@@oe@2-2-2013
21822009@unknown@formal@none@1@S@The House version of the legislation would kill that deduction, and label any such debt as equity, which isn't deductible.@@@@1@20@@oe@2-2-2013
21822010@unknown@formal@none@1@S@The less-rigorous Senate version would defer the deductibility for roughly five years.@@@@1@12@@oe@2-2-2013
21822011@unknown@formal@none@1@S@"You see these in just about every LBO," said Robert Willens, senior vice president in charge of tax issues at Shearson Lehman Hutton Inc. in New York.@@@@1@27@@oe@2-2-2013
21822012@unknown@formal@none@1@S@"It becomes a source of cash" for the company making the LBO because it gets a deduction and doesn't have to repay the debt for several years.@@@@1@27@@oe@2-2-2013
21822013@unknown@formal@none@1@S@Typically, Mr. Willens estimates, this type of debt makes up 15% to 20% of the financing for LBOs.@@@@1@18@@oe@2-2-2013
21822014@unknown@formal@none@1@S@These types of bonds have been used in buy-outs of companies such as RJR Nabisco Inc., Storer Communications Inc. and Kroger Co.@@@@1@22@@oe@2-2-2013
21822015@unknown@formal@none@1@S@A second provision passed by the Senate and House would eliminate a rule allowing companies that post losses resulting from LBO debt to receive refunds of taxes paid over the previous three years.@@@@1@33@@oe@2-2-2013
21822016@unknown@formal@none@1@S@For example, if a company posted a loss of $100 million from buy-out interest payments, the existing rule would allow the concern to be able to receive a refund from the tax it paid from 1986 through 1989, when it may have been a profitable public company.@@@@1@47@@oe@2-2-2013
21822017@unknown@formal@none@1@S@But that rule is being virtually overlooked by Wall Street, which is concentrating on coping with the deduction issue.@@@@1@19@@oe@2-2-2013
21822018@unknown@formal@none@1@S@"Prices for LBOs have to come down if you don't have that feature," argued Lawrence Schloss, managing director for merchant banking at Donaldson, Lufkin & Jenrette Securities Corp. in New York.@@@@1@31@@oe@2-2-2013
21822019@unknown@formal@none@1@S@Several Wall Street officials say the proposed legislation already is having an impact.@@@@1@13@@oe@2-2-2013
21822020@unknown@formal@none@1@S@An investment group led by Chicago's Pritzker family recently lowered a $3.35 billion bid for American Medical International, Beverly Hills, Calif., because of the threat of the legislation.@@@@1@28@@oe@2-2-2013
21822021@unknown@formal@none@1@S@Moreover, one investment banker, who requested anonymity, said his firm didn't raise the ante for a target company earlier this month after a stronger bid emerged from a public company that wasn't concerned about the financing provision.@@@@1@37@@oe@2-2-2013
21822022@unknown@formal@none@1@S@"We would have paid more if we thought that law wasn't going to pass," he said.@@@@1@16@@oe@2-2-2013
21822023@unknown@formal@none@1@S@One possible solution for Wall Street is to increase the equity part of the transaction -- that is, give lenders a bigger stake in the surviving company rather than just interest payments.@@@@1@32@@oe@2-2-2013
21822024@unknown@formal@none@1@S@That would force the buy-out firm and the target company's management to reduce their level of ownership.@@@@1@17@@oe@2-2-2013
21822025@unknown@formal@none@1@S@"The pigs in the trough may have to give a little bit of the slop back and then the deal can go through," said Peter C. Canellos, tax partner at Wachtell, Lipton, Rosen & Katz.@@@@1@35@@oe@2-2-2013
21822026@unknown@formal@none@1@S@Another solution, said a tax lawyer who requested anonymity, is for firms to use convertible bonds that sell at a discount.@@@@1@21@@oe@2-2-2013
21822027@unknown@formal@none@1@S@Since they have a lower interest rate, they wouldn't fall under the junk-bond category that would lose its deductibility.@@@@1@19@@oe@2-2-2013
21822028@unknown@formal@none@1@S@The House version of the bill would make debt non-deductible if it pays five percentage points above Treasury notes, has at least a five-year maturity and doesn't pay interest for at least one year out of the first five.@@@@1@39@@oe@2-2-2013
21822029@unknown@formal@none@1@S@The bill would then declare that the debt is equity and therefore isn't deductible.@@@@1@14@@oe@2-2-2013
21822030@unknown@formal@none@1@S@The Senate bill would only deny the deduction until interest is actually paid.@@@@1@13@@oe@2-2-2013
21822031@unknown@formal@none@1@S@Currently, even though the issuer doesn't pay tax, the debt holder is taxed on the accrued interest.@@@@1@17@@oe@2-2-2013
21822032@unknown@formal@none@1@S@But those holders are often foreign investors and tax-exempt pension funds that don't pay taxes on their holdings.@@@@1@18@@oe@2-2-2013
21822033@unknown@formal@none@1@S@The Senate estimates that its version of the provision would yield $17 million the first year and a total of $409 million over five years.@@@@1@25@@oe@2-2-2013
21822034@unknown@formal@none@1@S@The House version would raise slightly more.@@@@1@7@@oe@2-2-2013
21822035@unknown@formal@none@1@S@Even if Wall Street finds ways around the new rules, a Senate aide contends LBOs will become somewhat more difficult.@@@@1@20@@oe@2-2-2013
21822036@unknown@formal@none@1@S@"There's no question it will make LBOs more expensive," he said.@@@@1@11@@oe@2-2-2013
21822037@unknown@formal@none@1@S@"The interest deduction was the engine that made these things more productive.@@@@1@12@@oe@2-2-2013
21823001@unknown@formal@none@1@S@The average publicly offered commodity fund fell 4.2% in September, largely because of the volatile markets in foreign currencies, according to Norwood Securities.@@@@1@23@@oe@2-2-2013
21823002@unknown@formal@none@1@S@The firm said that losers outnumbered gainers by more than three to one among the 122 funds it tracks.@@@@1@19@@oe@2-2-2013
21823003@unknown@formal@none@1@S@For the first nine months of the year, Norwood said the average fund has lost 3.3%.@@@@1@16@@oe@2-2-2013
21824001@unknown@formal@none@1@S@The government moved aggressively to open the spigots of federal aid for victims of the California earthquake, but its reservoir of emergency funds must be replenished soon if the aid is to continue.@@@@1@33@@oe@2-2-2013
21824002@unknown@formal@none@1@S@President Bush signed a disaster declaration covering seven Northern California counties.@@@@1@11@@oe@2-2-2013
21824003@unknown@formal@none@1@S@The declaration immediately made the counties eligible for temporary housing, grants and low-cost loans to cover uninsured property losses.@@@@1@19@@oe@2-2-2013
21824004@unknown@formal@none@1@S@In addition, an unusually wide array of federal agencies moved to provide specialized assistance.@@@@1@14@@oe@2-2-2013
21824005@unknown@formal@none@1@S@The Department of Housing and Urban Development prepared to make as many as 100 vacant houses available for those left homeless, the Agriculture Department was set to divert food from the school-lunch program to earthquake victims, and the Pentagon was providing everything from radio communications to blood transfusions to military police for directing traffic.@@@@1@54@@oe@2-2-2013
21824006@unknown@formal@none@1@S@But the pool of federal emergency-relief funds already is running low because of the heavy costs of cleaning up Hurricane Hugo, and Congress will be under pressure to allocate more money quickly.@@@@1@32@@oe@2-2-2013
21824007@unknown@formal@none@1@S@In Hugo's wake, Congress allocated $1.1 billion in relief funds, and White House spokesman Marlin Fitzwater said $273 million of that money remains and could be diverted for quick expenditures related to the earthquake.@@@@1@34@@oe@2-2-2013
21824008@unknown@formal@none@1@S@Now, though, enormous costs for earthquake relief will pile on top of outstanding costs for hurricane relief.@@@@1@17@@oe@2-2-2013
21824009@unknown@formal@none@1@S@"That obviously means that we won't have enough for all of the emergencies that are now facing us, and we will have to consider appropriate requests for follow-on funding," Mr. Fitzwater said.@@@@1@32@@oe@2-2-2013
21824010@unknown@formal@none@1@S@The federal government isn't even attempting yet to estimate how much the earthquake will cost it.@@@@1@16@@oe@2-2-2013
21824011@unknown@formal@none@1@S@But Mr. Fitzwater said, "There will be, I think quite obviously, a very large amount of money required from all levels of government."@@@@1@23@@oe@2-2-2013
21824012@unknown@formal@none@1@S@In Congress, lawmakers already are looking for ways to add relief funds.@@@@1@12@@oe@2-2-2013
21824013@unknown@formal@none@1@S@Money could be added to a pending spending bill covering the Federal Emergency Management Agency, which coordinates federal disaster relief.@@@@1@20@@oe@2-2-2013
21824014@unknown@formal@none@1@S@More likely, relief funds could be added to an omnibus spending bill that Congress is to begin considering next week.@@@@1@20@@oe@2-2-2013
21824015@unknown@formal@none@1@S@But it isn't just Washington's relief dollars that are spread thin; its relief manpower also is stretched.@@@@1@17@@oe@2-2-2013
21824016@unknown@formal@none@1@S@FEMA still has special disaster centers open to handle the aftermath of Hugo, and spokesman Russell Clanahan acknowledged that "we're pretty thin."@@@@1@22@@oe@2-2-2013
21824017@unknown@formal@none@1@S@Mr. Clanahan says FEMA now possibly may have the heaviest caseload in its history.@@@@1@14@@oe@2-2-2013
21824018@unknown@formal@none@1@S@To further complicate relief efforts, the privately funded American Red Cross also finds itself strapped for funds after its big Hugo operation.@@@@1@22@@oe@2-2-2013
21824019@unknown@formal@none@1@S@"It's been a bad month money-wise and every other way," said Sally Stewart, a spokeswoman for the Red Cross.@@@@1@19@@oe@2-2-2013
21824020@unknown@formal@none@1@S@"It just makes it a little rough when you have to worry about the budget."@@@@1@15@@oe@2-2-2013
21824021@unknown@formal@none@1@S@The Red Cross has opened 30 shelters in the Bay area, serving 5,000 people.@@@@1@14@@oe@2-2-2013
21824022@unknown@formal@none@1@S@Twenty-five trucks capable of cooking food were dispatched from other states.@@@@1@11@@oe@2-2-2013
21824023@unknown@formal@none@1@S@All the precise types of federal aid that will be sent to California won't be determined until state officials make specific requests to FEMA, agency officials said.@@@@1@27@@oe@2-2-2013
21824024@unknown@formal@none@1@S@And in the confusion after the earthquake, "the information flow is a little slow coming in from the affected area," said Carl Suchocki, a FEMA spokesman.@@@@1@26@@oe@2-2-2013
21824025@unknown@formal@none@1@S@Still, some aid is moving westward from Washington almost immediately.@@@@1@10@@oe@2-2-2013
21824026@unknown@formal@none@1@S@HUD officials said they will make available as many as 100 Bay area houses that are under HUD loans but now are vacant after the houses have been inspected to ensure they are sound.@@@@1@34@@oe@2-2-2013
21824027@unknown@formal@none@1@S@Additional housing vouchers and certificates will be made available, officials said, and some housing and community-development funds may be shifted from other programs or made available for emergency use.@@@@1@29@@oe@2-2-2013
21824028@unknown@formal@none@1@S@Another federal agency not normally associated with disaster relief -- the Internal Revenue Service -- moved quickly as well.@@@@1@19@@oe@2-2-2013
21824029@unknown@formal@none@1@S@The IRS said it will waive certain tax penalties for earthquake victims unable to meet return deadlines or make payments because of the quake's devastation.@@@@1@25@@oe@2-2-2013
21824030@unknown@formal@none@1@S@The agency plans to announce specific relief procedures in the coming days.@@@@1@12@@oe@2-2-2013
21824031@unknown@formal@none@1@S@And the Treasury said residents of the San Francisco area will be able to cash in savings bonds even if they haven't held them for the minimum six-month period.@@@@1@29@@oe@2-2-2013
21824032@unknown@formal@none@1@S@One advantage that federal officials have in handling earthquake relief is the large number of military facilities in the San Francisco Bay area, facilities that provide a ready base of supplies and workers.@@@@1@33@@oe@2-2-2013
21824033@unknown@formal@none@1@S@Even before the full extent of the devastation was known, Defense Secretary Dick Cheney ordered the military services to set up an emergency command center in the Pentagon and prepare to respond to various FEMA requests for assistance.@@@@1@38@@oe@2-2-2013
21824034@unknown@formal@none@1@S@By yesterday afternoon, Air Force transport planes began moving additional rescue and medical supplies, physicians, communications equipment and FEMA personnel to California.@@@@1@22@@oe@2-2-2013
21824035@unknown@formal@none@1@S@A military jet flew a congressional delegation and senior Bush administration officials to survey the damage.@@@@1@16@@oe@2-2-2013
21824036@unknown@formal@none@1@S@And the Pentagon said dozens of additional crews and transport aircraft were on alert "awaiting orders to move emergency supplies."@@@@1@20@@oe@2-2-2013
21824037@unknown@formal@none@1@S@Two Air Force facilities near Sacramento, and Travis Air Force Base, 50 miles northeast of San Francisco, were designated to serve as medical-airlift centers.@@@@1@24@@oe@2-2-2013
21824038@unknown@formal@none@1@S@Some victims also were treated at the Letterman Army Medical Center in San Francisco and at the Naval Hospital in Oakland.@@@@1@21@@oe@2-2-2013
21824039@unknown@formal@none@1@S@In addition, 20 military police from the Presidio, a military base in San Francisco, are assisting with traffic control, and a Navy ship was moved from a naval station at Treasure Island near the Bay Bridge to San Francisco to help fight fires.@@@@1@43@@oe@2-2-2013
21824040@unknown@formal@none@1@S@To help residents in Northern California rebuild, FEMA intends to set up 17 disaster assistance offices in the earthquake area in the next several days and to staff them with 400 to 500 workers from various agencies, said Robert Volland, chief of the agency's individual assistance division.@@@@1@47@@oe@2-2-2013
21824041@unknown@formal@none@1@S@At these offices, earthquake victims will be helped in filling out a one-page form that they will need to qualify for such federal assistance as home-improvement loans and to repair houses.@@@@1@31@@oe@2-2-2013
21824042@unknown@formal@none@1@S@And federal officials are promising to move rapidly with federal highway aid to rebuild the area's severely damaged road system.@@@@1@20@@oe@2-2-2013
21824043@unknown@formal@none@1@S@The Federal Highway Administration has an emergency relief program to help states and local governments repair federally funded highways and bridges seriously damaged by natural disasters.@@@@1@26@@oe@2-2-2013
21824044@unknown@formal@none@1@S@The account currently has $220 million.@@@@1@6@@oe@2-2-2013
21824045@unknown@formal@none@1@S@And though federal law dictates that only $100 million can be disbursed from that fund in any one state per disaster, administration officials expect Congress to move in to authorize spending more now in California.@@@@1@35@@oe@2-2-2013
21824046@unknown@formal@none@1@S@To get that money, states must go through an elaborate approval process, but officials expect red tape to be cut this time.@@@@1@22@@oe@2-2-2013
21824047@unknown@formal@none@1@S@Keith Mulrooney, special assistant to Federal Highway Administrator Thomas Larson, also said that after the 1971 San Fernando earthquake in Southern California, the state set tougher standards for bridges, and with federal aid, began a program to retrofit highways and bridges for earthquake hazards.@@@@1@44@@oe@2-2-2013
21824048@unknown@formal@none@1@S@The first phase of the program has been completed, but two other phases are continuing.@@@@1@15@@oe@2-2-2013
21824049@unknown@formal@none@1@S@The two major structures that failed Tuesday night, he said, were both built well before the 1971 earthquake -- the San Francisco Bay Bridge, completed in the 1930s, and the section of I-880, built in the 1950s.@@@@1@37@@oe@2-2-2013
21824050@unknown@formal@none@1@S@The I-880 section had completed the first phase of the retrofitting.@@@@1@11@@oe@2-2-2013
21824051@unknown@formal@none@1@S@Laurie McGinley contributed to this article.@@@@1@6@@oe@2-2-2013
21825001@unknown@formal@none@1@S@FARMERS REAP abundant crops.@@@@1@4@@oe@2-2-2013
21825002@unknown@formal@none@1@S@But how much will shoppers benefit?@@@@1@6@@oe@2-2-2013
21825003@unknown@formal@none@1@S@The harvest arrives in plenty after last year's drought-ravaged effort: The government estimates corn output at 7.45 billion bushels, up 51% from last fall.@@@@1@24@@oe@2-2-2013
21825004@unknown@formal@none@1@S@Soybean production swells 24%.@@@@1@4@@oe@2-2-2013
21825005@unknown@formal@none@1@S@As a result, prices paid to farmers for the commodities, which are used in products as diverse as bubble gum and chicken feed, plummet 20% to 33%.@@@@1@27@@oe@2-2-2013
21825006@unknown@formal@none@1@S@But don't expect too much in the way of price breaks soon at the supermarket.@@@@1@15@@oe@2-2-2013
21825007@unknown@formal@none@1@S@Economists expect consumer food prices to jump 5.5% this year to the highest level since 1980 and up from last year's 4.1% rise.@@@@1@23@@oe@2-2-2013
21825008@unknown@formal@none@1@S@Next year may see a drop of one percentage point.@@@@1@10@@oe@2-2-2013
21825009@unknown@formal@none@1@S@Beef prices, hovering near records since the drought, could drop in earnest this winter if ranchers expand herds.@@@@1@18@@oe@2-2-2013
21825010@unknown@formal@none@1@S@Lower feed prices may help animals eat more cheaply, but humans have to factor in an expensive middleman: the processor.@@@@1@20@@oe@2-2-2013
21825011@unknown@formal@none@1@S@Food companies probably won't cut their prices much, blaming other costs.@@@@1@11@@oe@2-2-2013
21825012@unknown@formal@none@1@S@"Labor takes the biggest single chunk out of the `food dollar,'" says Frank Pankyo of the Food Institute.@@@@1@18@@oe@2-2-2013
21825013@unknown@formal@none@1@S@Stokely says stores revive specials like three cans of peas for 99 cents.@@@@1@13@@oe@2-2-2013
21825014@unknown@formal@none@1@S@Two cans cost 89 cents during the drought.@@@@1@8@@oe@2-2-2013
21825015@unknown@formal@none@1@S@IF IN VITRO fertilization works, it usually does so after only a few tries.@@@@1@14@@oe@2-2-2013
21825016@unknown@formal@none@1@S@Costly infertility problems and procedures proliferate as aging baby boomers and others decide to have children -- now.@@@@1@18@@oe@2-2-2013
21825017@unknown@formal@none@1@S@It's estimated that one in six couples experiences infertility, and in 1987, Americans spent about $1 billion to fight the problem.@@@@1@21@@oe@2-2-2013
21825018@unknown@formal@none@1@S@Only about five states now offer some form of insurance coverage, but more are expected.@@@@1@15@@oe@2-2-2013
21825019@unknown@formal@none@1@S@A letter in the New England Journal of Medicine notes that while technology offers "almost endless hope . . . when to stop has become a difficult question. . . ."@@@@1@31@@oe@2-2-2013
21825020@unknown@formal@none@1@S@The authors, from Boston's Beth Israel Hospital, say that 84% of the 50 births they followed occurred after only two in vitro cycles.@@@@1@23@@oe@2-2-2013
21825021@unknown@formal@none@1@S@It adds that births were "extremely unlikely" after the fourth cycle and concludes couples who don't achieve a pregnancy after four to six procedures should be advised that success is unlikely.@@@@1@31@@oe@2-2-2013
21825022@unknown@formal@none@1@S@Some couples continue to try.@@@@1@5@@oe@2-2-2013
21825023@unknown@formal@none@1@S@"Such determination may translate into extreme physical, emotional and financial costs," the letter warns.@@@@1@14@@oe@2-2-2013
21825024@unknown@formal@none@1@S@MARKET MOVES, these managers don't.@@@@1@5@@oe@2-2-2013
21825025@unknown@formal@none@1@S@Only three of the 25 corporate pension fund managers attending a Lowry Consulting Group client conference say they plan to change the asset allocation mix in their portfolios because of the market drop.@@@@1@33@@oe@2-2-2013
21825026@unknown@formal@none@1@S@WORLD ODDITIES come alive in a multimedia version of the Guinness Book of Records.@@@@1@14@@oe@2-2-2013
21825027@unknown@formal@none@1@S@The $99 CD-ROM disk (it can only be played on an Apple Macintosh computer at the moment) combines animation, music and sound.@@@@1@22@@oe@2-2-2013
21825028@unknown@formal@none@1@S@Among the Guinness disk's wonders: the world's loudest recorded belch.@@@@1@10@@oe@2-2-2013
21825029@unknown@formal@none@1@S@ARTY FAX from David Hockney begins a tongue-in-cheek exhibit today at New York's Andre Emmerich Gallery.@@@@1@16@@oe@2-2-2013
21825030@unknown@formal@none@1@S@One of the artist's earliest Fax works was "Little Stanley Sleeping," a portrait of his dog.@@@@1@16@@oe@2-2-2013
21825031@unknown@formal@none@1@S@PACS GIVE and receive in a debatable duet with employees' favored charities.@@@@1@12@@oe@2-2-2013
21825032@unknown@formal@none@1@S@The Federal Election Commission clears corporate plans to donate to an employee's chosen charity in exchange for the worker's gift to the company political action committee.@@@@1@26@@oe@2-2-2013
21825033@unknown@formal@none@1@S@Latest approvals: Bell Atlantic's New Jersey Bell and General Dynamics.@@@@1@10@@oe@2-2-2013
21825034@unknown@formal@none@1@S@Companies get more political clout plus a possible tax-deductible charitable donation -- so far no word from the IRS on deductibility.@@@@1@21@@oe@2-2-2013
21825035@unknown@formal@none@1@S@Detroit Edison, the plan pioneer, generated $54,000 in matching funds this year, up from $39,000 in 1988.@@@@1@17@@oe@2-2-2013
21825036@unknown@formal@none@1@S@But the utility may not continue next year.@@@@1@8@@oe@2-2-2013
21825037@unknown@formal@none@1@S@"We're on a tight budget," says Detroit Edison's Carol Roskind.@@@@1@10@@oe@2-2-2013
21825038@unknown@formal@none@1@S@Two election commission members opposed the matching plans.@@@@1@8@@oe@2-2-2013
21825039@unknown@formal@none@1@S@Scott E. Thomas says the plans give employees "a bonus in the form of charitable donations made from an employer's treasury" in exchange for the political donation.@@@@1@27@@oe@2-2-2013
21825040@unknown@formal@none@1@S@"The U.S. government could be, in effect, subsidizing political contributions to corporate PACs," he says.@@@@1@15@@oe@2-2-2013
21825041@unknown@formal@none@1@S@New Jersey Bell awaits state clearance.@@@@1@6@@oe@2-2-2013
21825042@unknown@formal@none@1@S@Despite federal approval, General Dynamics says it decided it won't go ahead with the matching program.@@@@1@16@@oe@2-2-2013
21825043@unknown@formal@none@1@S@CHRISTMAS SHOPPERS find a helping hand from some catalog companies.@@@@1@10@@oe@2-2-2013
21825044@unknown@formal@none@1@S@Blunt Ellis & Loewi estimates direct mail catalog sales rose to $12 billion last year.@@@@1@15@@oe@2-2-2013
21825045@unknown@formal@none@1@S@And while it's too soon to tell how sales will fare in the important 1989 Christmas season, some companies take steps to ease the usual 11th-hour crush.@@@@1@27@@oe@2-2-2013
21825046@unknown@formal@none@1@S@Spiegel promises a "Guaranteed Christmas," with a pledge to deliver goods before Christmas if ordered by Dec. 20.@@@@1@18@@oe@2-2-2013
21825047@unknown@formal@none@1@S@And, for an extra $6, Land's End will deliver orders within two days; customers can designate the day.@@@@1@18@@oe@2-2-2013
21825048@unknown@formal@none@1@S@Spiegel, which also owns Eddie Bauer and Honeybee, says that since 1987, sales have doubled during the week before Christmas.@@@@1@20@@oe@2-2-2013
21825049@unknown@formal@none@1@S@An L.L. Bean spokeswoman notes: "People are just used to living in a last-minute society."@@@@1@15@@oe@2-2-2013
21825050@unknown@formal@none@1@S@Blunt Ellis, a Milwaukee brokerage firm, says part of the reason catalog sales grow in popularity is because consumers have more money but less time to spend it.@@@@1@28@@oe@2-2-2013
21825051@unknown@formal@none@1@S@L.L. Bean hires about 2,700 workers for the season rush, about 300 more than last year; Land's End hires 2,000.@@@@1@20@@oe@2-2-2013
21825052@unknown@formal@none@1@S@BRIEFS:@@@@1@1@@oe@2-2-2013
21825053@unknown@formal@none@1@S@Guarana Antarctica, a Brazilian soft drink, is brought to the U.S. by Amcap, Chevy Chase, Md.@@@@1@16@@oe@2-2-2013
21825054@unknown@formal@none@1@S@New Product News says the beverage "looks like ginger ale, tastes a little like cherries and smells like bubble gum." . . .@@@@1@23@@oe@2-2-2013
21825055@unknown@formal@none@1@S@"Amenities" planned for Chicago's new Parkshore Tower apartments include an on-site investment counselor.@@@@1@13@@oe@2-2-2013
21826001@unknown@formal@none@1@S@Four years ago, Pittsburgh was designated the most-livable U.S. city by Rand McNally's Places Rated Almanac, and the honor did wonders to improve Pittsburgh's soot-stained image.@@@@1@26@@oe@2-2-2013
21826002@unknown@formal@none@1@S@"People asked, is it really true?" says Maury Kelley, vice president, marketing services, for Beecham Products USA, a maker of health and personal-care products that used the ranking in its recruiting brochure.@@@@1@32@@oe@2-2-2013
21826003@unknown@formal@none@1@S@Yuba City, Calif., meanwhile, ranked dead last among 329 metro areas.@@@@1@11@@oe@2-2-2013
21826004@unknown@formal@none@1@S@Unamused, residents burned Rand McNally books and wore T-shirts that said: "Kiss my Atlas."@@@@1@14@@oe@2-2-2013
21826005@unknown@formal@none@1@S@The almanac will be making new friends and enemies on Oct. 27, when an updated version will be released.@@@@1@19@@oe@2-2-2013
21826006@unknown@formal@none@1@S@Pittsburgh figures it will be dethroned but plans to accept its ouster graciously.@@@@1@13@@oe@2-2-2013
21826007@unknown@formal@none@1@S@The city's Office of Promotion plans media events to welcome its successor.@@@@1@12@@oe@2-2-2013
21826008@unknown@formal@none@1@S@"We're encouraging a graceful transition," says Mary Kay Poppenberg, the organization's president.@@@@1@12@@oe@2-2-2013
21826009@unknown@formal@none@1@S@"Our attitude is that (the ranking) is like Miss America.@@@@1@10@@oe@2-2-2013
21826010@unknown@formal@none@1@S@Once you're Miss America, you're always Miss America."@@@@1@8@@oe@2-2-2013
21826011@unknown@formal@none@1@S@Tell that to Atlanta, which Pittsburgh replaced as the most-livable city in 1985.@@@@1@13@@oe@2-2-2013
21826012@unknown@formal@none@1@S@Many Atlantans thought Pittsburgh was an unworthy heir.@@@@1@8@@oe@2-2-2013
21826013@unknown@formal@none@1@S@A columnist in the Atlanta Journal and Constitution wrote: "Who did the research for this report?@@@@1@16@@oe@2-2-2013
21826014@unknown@formal@none@1@S@Two guys from Gary, Ind.?"@@@@1@5@@oe@2-2-2013
21826015@unknown@formal@none@1@S@Not so.@@@@1@2@@oe@2-2-2013
21826016@unknown@formal@none@1@S@Co-authors David Savageau and Richard Boyer, live in Gloucester, Mass., and Asheville, N.C., respectively.@@@@1@14@@oe@2-2-2013
21826017@unknown@formal@none@1@S@"Atlanta," Mr. Savageau sniffs, "has unrealistic pretensions to world-class status."@@@@1@10@@oe@2-2-2013
21826018@unknown@formal@none@1@S@The new edition lists the top 10 metropolitan areas as Anaheim-Santa Ana, Calif.; Boston; Louisville, Ky.; Nassau-Suffolk, N.Y.; New York; Pittsburgh; San Diego; San Francisco; Seattle; and Washington.@@@@1@28@@oe@2-2-2013
21826019@unknown@formal@none@1@S@Mr. Savageau says earthquake or not, San Francisco makes the list.@@@@1@11@@oe@2-2-2013
21826020@unknown@formal@none@1@S@But attention also rivets on who finishes last, and Pine Bluff, Ark. -- which finished third to last in 1981 and second to last in 1985 -- is certainly in the running.@@@@1@32@@oe@2-2-2013
21826021@unknown@formal@none@1@S@"I hate to dignify the publication by commenting on the obscene rating," Mayor Carolyn Robinson says, adding that cities have no way to rebut the book.@@@@1@26@@oe@2-2-2013
21826022@unknown@formal@none@1@S@"It's like fighting your way out of a fog.@@@@1@9@@oe@2-2-2013
21826023@unknown@formal@none@1@S@You don't know which way to punch.@@@@1@7@@oe@2-2-2013
21827001@unknown@formal@none@1@S@Northrop Corp.'s third-quarter net income fell 25% to $21.5 million, or 46 cents a share, while General Dynamics Corp. reported nearly flat earnings of $76.5 million, or $1.83 a share.@@@@1@30@@oe@2-2-2013
21827002@unknown@formal@none@1@S@Los Angeles-based Northrop recorded an 8.2% decline in sales as B-2 Stealth bomber research-and-development revenue continued to ebb and high costs on some other programs cut into profit.@@@@1@28@@oe@2-2-2013
21827003@unknown@formal@none@1@S@The aerospace concern earned $28.8 million, or 61 cents a share, a year earlier.@@@@1@14@@oe@2-2-2013
21827004@unknown@formal@none@1@S@Sales in the latest period were $1.25 billion, down from $1.36 billion in the 1988 quarter.@@@@1@16@@oe@2-2-2013
21827005@unknown@formal@none@1@S@At St. Louis-based General Dynamics, sales rose 10% to $2.52 billion from $2.29 billion.@@@@1@14@@oe@2-2-2013
21827006@unknown@formal@none@1@S@It earned $76.4 million, or $1.82 a share, in the 1988 quarter.@@@@1@12@@oe@2-2-2013
21827007@unknown@formal@none@1@S@General Dynamics credited significant earnings gains in its general aviation and material service segments, an earnings recovery in submarine operations, and higher military aircraft sales.@@@@1@25@@oe@2-2-2013
21827008@unknown@formal@none@1@S@Northrop said sales fell because of the decline in B-2 development dollars from the government as the plane continues its initial production stage and because fewer F/A-18 fighter sections are being produced in its subcontract work with prime contractor McDonnell Douglas Corp.@@@@1@42@@oe@2-2-2013
21827009@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Northrop shares closed at $21.125, off 25 cents.@@@@1@17@@oe@2-2-2013
21827010@unknown@formal@none@1@S@General Dynamics closed at $54.875, up 50 cents.@@@@1@8@@oe@2-2-2013
21827011@unknown@formal@none@1@S@Northrop, which since early 1988 has declined to accept fixed-price contracts for research and development, said earnings were hurt by excessive costs on a number of such contracts won years ago.@@@@1@31@@oe@2-2-2013
21827012@unknown@formal@none@1@S@Among them were the ALQ-135 electronic countermeasures system for the F-15 fighter.@@@@1@12@@oe@2-2-2013
21827013@unknown@formal@none@1@S@Northrop's interest expense also soared to $35 million from $17 million a year ago.@@@@1@14@@oe@2-2-2013
21827014@unknown@formal@none@1@S@It said debt remained at the $1.22 billion that has prevailed since early 1989, although that compared with $911 million at Sept. 30, 1988.@@@@1@24@@oe@2-2-2013
21827015@unknown@formal@none@1@S@The backlog of undelivered orders at Northrop on Sept. 30 was $4.68 billion, down from $5.16 billion a year earlier.@@@@1@20@@oe@2-2-2013
21827016@unknown@formal@none@1@S@For the nine months, Northrop reported a net loss of $46.9 million, or $1 a share, compared with profit of $190.3 million, or $4.05 a share, in 1988.@@@@1@28@@oe@2-2-2013
21827017@unknown@formal@none@1@S@Sales dipped 3.6% to $3.92 billion from $4.07 billion.@@@@1@9@@oe@2-2-2013
21827018@unknown@formal@none@1@S@At General Dynamics, factors reducing earnings in the military aircraft segment included higher levels of cost-sharing in development of the Advanced Tactical Fighter, and the high cost of an advanced version of the F-16 fighter.@@@@1@35@@oe@2-2-2013
21827019@unknown@formal@none@1@S@F-16 deliveries also have fallen "slightly behind schedule," although a return to the previous schedule is expected in 1990, the company said.@@@@1@22@@oe@2-2-2013
21827020@unknown@formal@none@1@S@Backlog at General Dynamics rose to $16.5 billion from $15.8 billion.@@@@1@11@@oe@2-2-2013
21827021@unknown@formal@none@1@S@Its interest expense surged to $21.5 million from $12.4 million.@@@@1@10@@oe@2-2-2013
21827022@unknown@formal@none@1@S@For the nine months, General Dynamics earned $210.3 million, or $5.03 a share, up marginally from $208.8 million, or $4.97 a share, on a 4.9% rise in sales to $7.41 billion from $7.06 billion.@@@@1@34@@oe@2-2-2013
21828001@unknown@formal@none@1@S@Lotus Development Corp. reported a surprisingly strong 51% increase in third-quarter net income on a 32% sales gain, buoyed by strong demand for a new version of its 1-2-3 computer spreadsheet.@@@@1@31@@oe@2-2-2013
21828002@unknown@formal@none@1@S@The results topped analysts' expectations and the earnings growth of competitors, prompting traders to all but forget the product-launch delays that bogged down the company for much of the past two years.@@@@1@32@@oe@2-2-2013
21828003@unknown@formal@none@1@S@Yesterday, in heavy, national over-the-counter trading, Lotus shares rose to $32.50, up $1.25 apiece, capping a threemonth run-up of more than 40%.@@@@1@22@@oe@2-2-2013
21828004@unknown@formal@none@1@S@Lotus said net rose to $23 million, or 54 cents a share, on sales of $153.9 million.@@@@1@17@@oe@2-2-2013
21828005@unknown@formal@none@1@S@A year ago, net was $14.3 million, or 31 cents a share, on sales of $116.8 million.@@@@1@17@@oe@2-2-2013
21828006@unknown@formal@none@1@S@For the nine months, net of $38.5 million, or 92 cents a share, trailed the year earlier's $49.9 million, or $1.08 a share.@@@@1@23@@oe@2-2-2013
21828007@unknown@formal@none@1@S@Sales rose to $406 million from $356 million the year earlier.@@@@1@11@@oe@2-2-2013
21828008@unknown@formal@none@1@S@In the first half, Lotus struggled to keep market share with costly promotions while customers awaited the launch of 1-2-3 Release 3, the upgraded spreadsheet software.@@@@1@26@@oe@2-2-2013
21828009@unknown@formal@none@1@S@Lotus's results were about 10% higher than analysts' average expectations and compared favorably with the 36% earnings rise reported a day earlier by rival Microsoft Corp. of Redmond, Wash.@@@@1@29@@oe@2-2-2013
21828010@unknown@formal@none@1@S@The company said results were bolstered by upgrades to Release 3 by previous customers and improved profit margins, the result of manufacturing-cost controls.@@@@1@23@@oe@2-2-2013
21828011@unknown@formal@none@1@S@Rick Sherlund, a Goldman Sachs analyst, said Lotus had upgrade revenue of about $22 million in the quarter, twice what he had expected.@@@@1@23@@oe@2-2-2013
21828012@unknown@formal@none@1@S@Also, he estimated unit shipments of 1-2-3 in all its forms were about 315,000, up 7% from 1988's quarterly average.@@@@1@20@@oe@2-2-2013
21828013@unknown@formal@none@1@S@Demand for the new version was enabling Lotus to raise prices with distributors and to hold market share against Microsoft and other competitors that tried to exploit the earlier delays in Release 3's launch, Mr. Sherlund added.@@@@1@37@@oe@2-2-2013
21828014@unknown@formal@none@1@S@He estimated that 1-2-3 outsold Microsoft's Excel spreadsheet by four-to-one in the quarter, and held a 70% or better share of the spreadsheet market.@@@@1@24@@oe@2-2-2013
21829001@unknown@formal@none@1@S@Silicon Valley heaved a sigh of relief yesterday.@@@@1@8@@oe@2-2-2013
21829002@unknown@formal@none@1@S@Though details were sketchy in the aftermath of the violent earthquake that shook the high-tech corridor along with the rest of the San Francisco Bay area, a spot check of computer makers turned up little, if any, potentially lingering damage to facilities or fabrication equipment.@@@@1@45@@oe@2-2-2013
21829003@unknown@formal@none@1@S@Analysts and corporate officials said they expected practically no long-term disruption in shipments from the Valley of either hardware or software goods.@@@@1@22@@oe@2-2-2013
21829004@unknown@formal@none@1@S@Intel Corp., Advanced Micro Devices Inc. and National Semiconductor Corp. were all up and running yesterday, though many workers were forced to stay home because of damaged roadways; others elected to take the day off.@@@@1@35@@oe@2-2-2013
21829005@unknown@formal@none@1@S@"These systems are more rugged than many people would believe," said Thomas Kurlak, who tracks the computer industry for Merrill Lynch Research.@@@@1@22@@oe@2-2-2013
21829006@unknown@formal@none@1@S@"It's not the end of the world if you shake them up a little bit."@@@@1@15@@oe@2-2-2013
21829007@unknown@formal@none@1@S@Other companies, including International Business Machines Corp. and Hewlett-Packard Co., completely idled their operations because of Tuesday evening's temblor, which registered 6.9 on the Richter scale.@@@@1@26@@oe@2-2-2013
21829008@unknown@formal@none@1@S@Personnel spent the morning inspecting buildings for structural weaknesses, mopping up water from broken pipes and clearing ceiling tiles and other debris from factory floors.@@@@1@25@@oe@2-2-2013
21829009@unknown@formal@none@1@S@Still, many were confident that "in a day or two, everything should be back to normal," according to a spokeswoman for the Semiconductor Industry Association, based in Cupertino.@@@@1@28@@oe@2-2-2013
21829010@unknown@formal@none@1@S@IBM, for instance, said it anticipates returning to a normal work schedule by the weekend at its San Jose plant, which puts out disk drives for the 3090 family of mainframes.@@@@1@31@@oe@2-2-2013
21829011@unknown@formal@none@1@S@A Hewlett-Packard spokeswoman said that, while "things are a big mess," some 18,000 Valley employees have been called back to work today.@@@@1@22@@oe@2-2-2013
21829012@unknown@formal@none@1@S@Apple Computer added that it was being "cautiously optimistic," despite not yet closely eyeballing all of its 50 buildings in the region.@@@@1@22@@oe@2-2-2013
21829013@unknown@formal@none@1@S@Even the carefully calibrated machinery in its giant Fremont plant, to the north of the Valley, was believed to be undamaged.@@@@1@21@@oe@2-2-2013
21829014@unknown@formal@none@1@S@Sun Microsystems Inc. and Tandem Computers Inc. also signaled that they should recover quickly.@@@@1@14@@oe@2-2-2013
21829015@unknown@formal@none@1@S@Digital Equipment Corp., with major facilities in Santa Clara, Cupertino, Palo Alto and Mountain View, said that all of its engineering and manufacturing sites had reported to corporate headquarters in Maynard, Mass., Tuesday night.@@@@1@34@@oe@2-2-2013
21829016@unknown@formal@none@1@S@None sustained "significant" damage, a spokesman said, adding that "the delicate manufacturing process machines were checked and were all found to be operating normally."@@@@1@24@@oe@2-2-2013
21829017@unknown@formal@none@1@S@For many companies, of course, there is still a slew of nagging problems to grapple with, some of which have the potential to become quite serious.@@@@1@26@@oe@2-2-2013
21829018@unknown@formal@none@1@S@For example, a spokesman for Advanced Micro Devices said the Sunnyvale chip maker is worried about blackouts.@@@@1@17@@oe@2-2-2013
21829019@unknown@formal@none@1@S@A sudden surge or drop in electric power could ruin integrated circuits being built.@@@@1@14@@oe@2-2-2013
21829020@unknown@formal@none@1@S@But, given what might have happened to the fragile parts that are at the heart of the microelectronics business, the bulk of Valley companies seemed to be just about shouting hosannas.@@@@1@31@@oe@2-2-2013
21829021@unknown@formal@none@1@S@Several factors apparently spared the Valley -- a sprawling suburban stretch from San Jose to Palo Alto -- from the kind of impact felt in San Francisco, an hour's drive north.@@@@1@31@@oe@2-2-2013
21829022@unknown@formal@none@1@S@For one thing, buildings there tend to be newer and, thus, in step with the latest safety codes.@@@@1@18@@oe@2-2-2013
21829023@unknown@formal@none@1@S@Also, the soil in the Valley is solid, unlike the landfill of San Francisco's downtown Marina District, which was hit with fires and vast destruction.@@@@1@25@@oe@2-2-2013
21829024@unknown@formal@none@1@S@In addition, some microelectronics companies said they were prepared for tremulous conditions like Tuesday's.@@@@1@14@@oe@2-2-2013
21829025@unknown@formal@none@1@S@Their machine tools are even bolted to the shop floor.@@@@1@10@@oe@2-2-2013
21829026@unknown@formal@none@1@S@Intel said that over the past decade, it has installed computer sensors and shutoff valves, sensitive to the shake of an earthquake, in the pipes that snake through its plants.@@@@1@30@@oe@2-2-2013
21829027@unknown@formal@none@1@S@Like other large Valley companies, Intel also noted that it has factories in several parts of the nation, so that a breakdown at one location shouldn't leave customers in a total pinch.@@@@1@32@@oe@2-2-2013
21829028@unknown@formal@none@1@S@That's certainly good news for such companies as Compaq Computer Corp., Houston, which has only a four-day supply of microprocessors from the Valley on hand because of a just-in-time manufacturing approach that limits the buildup of inventory.@@@@1@37@@oe@2-2-2013
21829029@unknown@formal@none@1@S@Compaq said it foresees no difficulties in obtaining parts in the immediate future.@@@@1@13@@oe@2-2-2013
21829030@unknown@formal@none@1@S@Computer makers were scrambling to help customers recover from the disaster.@@@@1@11@@oe@2-2-2013
21829031@unknown@formal@none@1@S@Digital Equipment has set up disaster-recovery response centers in Dallas, Atlanta and Colorado Springs, Colo.@@@@1@15@@oe@2-2-2013
21829032@unknown@formal@none@1@S@These units were handling calls both from people in the San Francisco area and from computers themselves, which are set to dial Digital automatically when trouble arises.@@@@1@27@@oe@2-2-2013
21829033@unknown@formal@none@1@S@They then run remotely controlled self-diagnostic programs.@@@@1@7@@oe@2-2-2013
21829034@unknown@formal@none@1@S@Digital also said it has dispatched teams of technicians to California.@@@@1@11@@oe@2-2-2013
21829035@unknown@formal@none@1@S@Meanwhile, several other major installations around the Valley -- America's center of high-tech -- said they, too, fared as well as could be expected.@@@@1@24@@oe@2-2-2013
21829036@unknown@formal@none@1@S@Lawrence Livermore National Laboratory, where the Energy Department tests and conducts research on nuclear weapons, had only "superficial damage," a spokesman said.@@@@1@22@@oe@2-2-2013
21829037@unknown@formal@none@1@S@At Lockheed Corp.'s missiles and space systems group in Sunnyvale, about 40 miles south of San Francisco, workers were asked to head to work yesterday after it was realized that "there were no show-stoppers" in the 150-plus buildings on its one-square-mile campus.@@@@1@42@@oe@2-2-2013
21829038@unknown@formal@none@1@S@Several engineering and research offices needed closer scrutiny to make sure they weren't in danger of crumbling, but "the bulk of the place is in pretty good shape," an official said.@@@@1@31@@oe@2-2-2013
21829039@unknown@formal@none@1@S@One of Lockheed's most lucrative sectors -- accounting for more than half the aerospace company's $10.59 billion in sales in 1988 -- the missiles and space group is the prime Pentagon contractor on the Trident II ballistic missile.@@@@1@38@@oe@2-2-2013
21829040@unknown@formal@none@1@S@It also generates pieces of the missile shield called the Strategic Defense Initiative.@@@@1@13@@oe@2-2-2013
21829041@unknown@formal@none@1@S@Fortunately, the Hubble Space Telescope -- set to be launched on the shuttle next year in a search for distant solar systems and light emitted 14 billion years ago from the farthest reaches of the universe -- was moved from Sunnyvale to the Kennedy Space Center in Florida at the beginning of October.@@@@1@53@@oe@2-2-2013
21829042@unknown@formal@none@1@S@John R. Wilke contribued to this article.@@@@1@7@@oe@2-2-2013
21830001@unknown@formal@none@1@S@Michael Maynard offered the world a faster way to break eggs.@@@@1@11@@oe@2-2-2013
21830002@unknown@formal@none@1@S@As thanks, the egg industry tried to break him.@@@@1@9@@oe@2-2-2013
21830003@unknown@formal@none@1@S@And the egg producers have done a pretty good job.@@@@1@10@@oe@2-2-2013
21830004@unknown@formal@none@1@S@They tried to put Mr. Maynard out of business by an act of Congress.@@@@1@14@@oe@2-2-2013
21830005@unknown@formal@none@1@S@Egg-industry lobbying helped persuade six states to ban Mr. Maynard's automatic egg-breaking machine because of fears over salmonella.@@@@1@18@@oe@2-2-2013
21830006@unknown@formal@none@1@S@His company, Misa Manufacturing Inc., was forced to seek protection from creditors under federal bankruptcy law in 1987 and has since been liquidated.@@@@1@23@@oe@2-2-2013
21830007@unknown@formal@none@1@S@Monthly sales of his Egg King machine -- which he now is marketing through a new company -- have sunk to about half a dozen from a peak of 75, says the 46-year-old businessman.@@@@1@34@@oe@2-2-2013
21830008@unknown@formal@none@1@S@Mr. Maynard isn't the first entrepreneur to bump up against entrenched interests.@@@@1@12@@oe@2-2-2013
21830009@unknown@formal@none@1@S@But his case is notable both for the scale of the fight -- it isn't often that a congressional hearing is held to determine whether one small businessman is a threat to the republic -- and for what it tells about the pitfalls of marketing a new product.@@@@1@48@@oe@2-2-2013
21830010@unknown@formal@none@1@S@Now one might ask why people who sell eggs would fight someone who is trying to make it easier to crack them.@@@@1@22@@oe@2-2-2013
21830011@unknown@formal@none@1@S@Part of the answer lies in the nature of the industry.@@@@1@11@@oe@2-2-2013
21830012@unknown@formal@none@1@S@Many larger egg producers are also egg processors, who crack, inspect, and sanitize billions of eggs, turning them into powdered, liquified or frozen egg products.@@@@1@25@@oe@2-2-2013
21830013@unknown@formal@none@1@S@However, dozens of bakers, restaurant chefs and other food preparers who flocked to Mr. Maynard's defense say that products ranging from egg bread to eclairs lose some zip when the eggs come in 30-pound cans instead of shells.@@@@1@38@@oe@2-2-2013
21830014@unknown@formal@none@1@S@But for companies that use hundreds of eggs a day, breaking them by hand can get, well, out of hand.@@@@1@20@@oe@2-2-2013
21830015@unknown@formal@none@1@S@The idea behind the Egg King is pretty simple: put the eggs into a cylinder that contains perforated baskets, spin them at a high speed to break the shells and strain the edible part through the baskets.@@@@1@37@@oe@2-2-2013
21830016@unknown@formal@none@1@S@One Egg King -- which at just under four feet tall and two feet wide has been likened to the robot R2-D2 -- can crack about 20,000 eggs an hour.@@@@1@30@@oe@2-2-2013
21830017@unknown@formal@none@1@S@Because fresh eggs are less expensive than processed ones, a big egg user can recover the Egg King's $3,390 cost in a few months, says Mr. Maynard.@@@@1@27@@oe@2-2-2013
21830018@unknown@formal@none@1@S@Such centrifugal egg breakers have been around since the 1890s.@@@@1@10@@oe@2-2-2013
21830019@unknown@formal@none@1@S@But when Mr. Maynard came forward with his machine in the early 1970s nobody else was offering them in the U.S.@@@@1@21@@oe@2-2-2013
21830020@unknown@formal@none@1@S@The main reason: salmonella.@@@@1@4@@oe@2-2-2013
21830021@unknown@formal@none@1@S@Chickens carry this bacteria, which can cause upset stomachs and, in rare cases, death among people.@@@@1@16@@oe@2-2-2013
21830022@unknown@formal@none@1@S@Hens sometimes pass salmonella to the eggs, and it can also be found on unclean shells.@@@@1@16@@oe@2-2-2013
21830023@unknown@formal@none@1@S@Thus, any machine that breaks large amounts of eggs at once has the potential to spread salmonella if a bad egg gets in with the good ones.@@@@1@27@@oe@2-2-2013
21830024@unknown@formal@none@1@S@Mr. Maynard claims this is a manageable problem.@@@@1@8@@oe@2-2-2013
21830025@unknown@formal@none@1@S@The Egg King carries written instructions to break only high-grade eggs that have been properly sanitized and, as an added precaution, to use the eggs only in products that will be cooked enough to kill bacteria.@@@@1@36@@oe@2-2-2013
21830026@unknown@formal@none@1@S@With nearly 4,000 machines in use, there have been no salmonella problems as long as instructions were followed, Mr. Maynard boasts.@@@@1@21@@oe@2-2-2013
21830027@unknown@formal@none@1@S@He says the handful of salmonella cases involving products that may have used eggs broken by an Egg King stemmed from a failure to adequately cook the products.@@@@1@28@@oe@2-2-2013
21830028@unknown@formal@none@1@S@But he says that's no more a reason for banning Egg Kings than bad drivers are a reason for banning cars.@@@@1@21@@oe@2-2-2013
21830029@unknown@formal@none@1@S@Opponents don't buy such arguments.@@@@1@5@@oe@2-2-2013
21830030@unknown@formal@none@1@S@"Human nature being what it is, people don't always follow instructions," says Jack Guzewich, chief of food protection for the New York state Health Department.@@@@1@25@@oe@2-2-2013
21830031@unknown@formal@none@1@S@Leading the assault against the Egg King has been United Egg Producers.@@@@1@12@@oe@2-2-2013
21830032@unknown@formal@none@1@S@The Decatur, Ga., trade group has issued a "briefing book" that claims the machine is "a health hazard" and that Mr. Maynard is trying "to make a fast buck at the expense of the nation's egg producers."@@@@1@37@@oe@2-2-2013
21830033@unknown@formal@none@1@S@The UEP declines to comment, but the group's attorney, Alfred Frawley, says the group's actions are motivated solely by "health concerns."@@@@1@21@@oe@2-2-2013
21830034@unknown@formal@none@1@S@An early battleground was the U.S. Department of Agriculture.@@@@1@9@@oe@2-2-2013
21830035@unknown@formal@none@1@S@Mr. Maynard initially won approval for his machine to be used at egg-processing facilities regulated by the USDA's Food Safety Inspection Service.@@@@1@22@@oe@2-2-2013
21830036@unknown@formal@none@1@S@Unfortunately for Mr. Maynard, another branch of the USDA, the Agricultural Marketing Service, was in charge of eggs.@@@@1@18@@oe@2-2-2013
21830037@unknown@formal@none@1@S@After receiving complaints from egg producers, this branch got the other branch to rescind its approval, thus limiting the machine's potential market to bakeries and restaurants and other establishments that aren't regulated by the USDA.@@@@1@35@@oe@2-2-2013
21830038@unknown@formal@none@1@S@The egg producers also lobbied the Food and Drug Administration.@@@@1@10@@oe@2-2-2013
21830039@unknown@formal@none@1@S@But the FDA in a 1985 letter to the United Egg Producers said that there was "little likelihood" of a health problem as long as instructions were followed.@@@@1@28@@oe@2-2-2013
21830040@unknown@formal@none@1@S@So the producers went to Capitol Hill, where a congressman from Georgia introduced a measure to ban centrifugal egg-breaking machines.@@@@1@20@@oe@2-2-2013
21830041@unknown@formal@none@1@S@Mr. Maynard, whose company at the time was based in Santa Ana, Calif., enlisted his local congressman, and the battle was joined.@@@@1@22@@oe@2-2-2013
21830042@unknown@formal@none@1@S@Mr. Maynard's forces finally defeated the measure, though it took a vote on the floor of the House of Representatives to do it.@@@@1@23@@oe@2-2-2013
21830043@unknown@formal@none@1@S@Even then, opponents managed to get a congressional hearing to examine what one congressman called an "unscrupulous" method for breaking eggs.@@@@1@21@@oe@2-2-2013
21830044@unknown@formal@none@1@S@Foiled in their effort to get a national ban, the egg producers turned their attention to the states.@@@@1@18@@oe@2-2-2013
21830045@unknown@formal@none@1@S@So far, New York, New Jersey, Nebraska, Georgia, Michigan and Minnesota have outlawed Mr. Maynard's device, citing health concerns.@@@@1@19@@oe@2-2-2013
21830046@unknown@formal@none@1@S@An antitrust suit that Mr. Maynard's company filed in Los Angeles federal court against the United Egg Producers and others only added to the entrepreneur's woes.@@@@1@26@@oe@2-2-2013
21830047@unknown@formal@none@1@S@The judge dismissed the suit and ordered Mr. Maynard's company to pay over $100,000 in legal fees to the defendants' lawyers.@@@@1@21@@oe@2-2-2013
21830048@unknown@formal@none@1@S@Mr. Maynard says the ruling pushed his company into bankruptcy court.@@@@1@11@@oe@2-2-2013
21830049@unknown@formal@none@1@S@Now he has moved to Oklahoma where costs are lower, and started a new company, Adsi Inc., to market his machine.@@@@1@21@@oe@2-2-2013
21830050@unknown@formal@none@1@S@But, so far, the change of scenery hasn't ended his string of bad breaks.@@@@1@14@@oe@2-2-2013
21830051@unknown@formal@none@1@S@Mr. Maynard recently fell from a horse and fractured his arm.@@@@1@11@@oe@2-2-2013
21831001@unknown@formal@none@1@S@Michelle Pfeiffer can't chew gum and sing at the same time.@@@@1@11@@oe@2-2-2013
21831002@unknown@formal@none@1@S@But on the evidence of "The Fabulous Baker Boys," that may be the only thing she can't do, at least when she's acting in movies.@@@@1@25@@oe@2-2-2013
21831003@unknown@formal@none@1@S@As the tough, slinky lounge chanteuse in "The Fabulous Baker Boys," Ms. Pfeiffer sings for herself, and more than passably well.@@@@1@21@@oe@2-2-2013
21831004@unknown@formal@none@1@S@Her Susie Diamond handles a song the way the greats do, like she's hearing the way it should sound inside her head and she's concentrating on matching that internal tone.@@@@1@30@@oe@2-2-2013
21831005@unknown@formal@none@1@S@Yet her intensity stops and starts with the music.@@@@1@9@@oe@2-2-2013
21831006@unknown@formal@none@1@S@When she isn't performing for an audience, she prepares for a song by removing the wad of gum from her mouth, and indicates that she's finished by sticking the gum back in.@@@@1@32@@oe@2-2-2013
21831007@unknown@formal@none@1@S@Like almost everything in this wonderfully romantic and edgy movie, Ms. Pfeiffer's Susie seems like someone you've seen before, in numerous show-biz stories (even her name, Susie Diamond, sounds like a character Marilyn Monroe must have played).@@@@1@37@@oe@2-2-2013
21831008@unknown@formal@none@1@S@Yet nothing about "Baker Boys," and certainly nothing about Ms. Pfeiffer, really is like something from the video vault.@@@@1@19@@oe@2-2-2013
21831009@unknown@formal@none@1@S@Steve Kloves, the young writer and director (he isn't yet 30), has only one produced picture to his credit; he wrote the screenplay for "Racing With the Moon," a lovely coming-of-age picture set in the '40s.@@@@1@36@@oe@2-2-2013
21831010@unknown@formal@none@1@S@Both movies are infused with the nostalgic sensibility of someone much older, someone who doesn't dismiss dreams, but who also has enough experience to see his limits.@@@@1@27@@oe@2-2-2013
21831011@unknown@formal@none@1@S@However, Mr. Kloves directs his own material without sentimentality and at its own eccentric pace; "Baker Boys" is both bluesy and funny.@@@@1@22@@oe@2-2-2013
21831012@unknown@formal@none@1@S@He's put a fresh spin on material that could come off terribly cliched; for example, the way Susie wows an audience the first time she sings with the Baker Boys.@@@@1@30@@oe@2-2-2013
21831013@unknown@formal@none@1@S@Of course, it doesn't hurt that Mr. Kloves has made up for his lack of experience behind the camera with technicians who know exactly what they're doing.@@@@1@27@@oe@2-2-2013
21831014@unknown@formal@none@1@S@Much of the picture's sensuality emerges from cinematographer Michael Ballhaus's slyly seductive lens work.@@@@1@14@@oe@2-2-2013
21831015@unknown@formal@none@1@S@After working for years with Werner Rainer Fassbinder, the late German director, and more recently with Martin Scorsese ("After Hours," "The Color of Money," "The Last Temptation of Christ"), Mr. Ballhaus has developed a distinctively fluid style.@@@@1@37@@oe@2-2-2013
21831016@unknown@formal@none@1@S@And Dave Grusin's witty score embraces the banal requirements of banquet-hall musicianship ("Feelings" is a must) without condescension.@@@@1@18@@oe@2-2-2013
21831017@unknown@formal@none@1@S@Though Ms. Pfeiffer has the flashy part -- she gets the best comic bits and to wear glamorous dresses and spiked heelsthe boys are pretty great, too.@@@@1@27@@oe@2-2-2013
21831018@unknown@formal@none@1@S@What seemed like a good idea, to cast the Bridges brothers (Jeff and Beau) as the Baker brothers, actually turned out to be a good idea.@@@@1@26@@oe@2-2-2013
21831019@unknown@formal@none@1@S@Anyone who's tried to appear "natural" in front of a camera knows that it's much more natural to end up looking like a stiff.@@@@1@24@@oe@2-2-2013
21831020@unknown@formal@none@1@S@So it's quite possible that the terrific play between the brothers isn't natural at all, that Jeff and Beau had to work like crazy to make their brotherly love -- and resentment and frustration and rage -- seem so very real.@@@@1@41@@oe@2-2-2013
21831021@unknown@formal@none@1@S@When the movie opens the Baker brothers are doing what they've done for 15 years professionally, and twice as long as that for themselves: They're playing proficient piano, face-to-face, on twin pianos.@@@@1@32@@oe@2-2-2013
21831022@unknown@formal@none@1@S@They're small time in the small time-hotels (not the best ones) and restaurants in Seattle.@@@@1@15@@oe@2-2-2013
21831023@unknown@formal@none@1@S@Yet they don't disparage their audiences by disparaging their act.@@@@1@10@@oe@2-2-2013
21831024@unknown@formal@none@1@S@They wear tuxedos most nights, unless circumstances (a regular gig at a "tropical" lounge, for example) require them to wear special costumes, like Hawaiian shirts.@@@@1@25@@oe@2-2-2013
21831025@unknown@formal@none@1@S@Plump Beau, looking eager to please with his arched eyebrows and round face, plays the older brother, Frank.@@@@1@18@@oe@2-2-2013
21831026@unknown@formal@none@1@S@Frank plans the program, takes care of business, and approaches the work like any other job.@@@@1@16@@oe@2-2-2013
21831027@unknown@formal@none@1@S@He's even able to think of a job that takes him out of the house 300 nights a week as an ordinary job.@@@@1@23@@oe@2-2-2013
21831028@unknown@formal@none@1@S@He's got a wife and two kids and a house in the suburbs; the audience sees only the house, and only near the end of the movie.@@@@1@27@@oe@2-2-2013
21831029@unknown@formal@none@1@S@Frank grovels a little for the bookers, probably no more or less than he would have to if he worked for a big corporation.@@@@1@24@@oe@2-2-2013
21831030@unknown@formal@none@1@S@On his off-hours he wears cardigan sweaters.@@@@1@7@@oe@2-2-2013
21831031@unknown@formal@none@1@S@Jeff Bridges is the younger brother, Jack, who fancies himself the rebellious artist; he lives in a loft with his sick dog and the occasional visit from the little girl upstairs, who climbs down the fire escape.@@@@1@37@@oe@2-2-2013
21831032@unknown@formal@none@1@S@Yet Jack's the one who can remember every dive they ever played, and when, and he dutifully shows up for work night after night (he consoles himself with booze and by showing up at the last minute).@@@@1@37@@oe@2-2-2013
21831033@unknown@formal@none@1@S@Looking leaner than he has in a while, the younger Mr. Bridges's Jack is sexy and cynical and a far sadder case than Frank, who's managed to chisel his dreams to fit reality without feeling too cheated.@@@@1@37@@oe@2-2-2013
21831034@unknown@formal@none@1@S@He can live with little pleasures.@@@@1@6@@oe@2-2-2013
21831035@unknown@formal@none@1@S@Mr. Kloves has put together some priceless moments.@@@@1@8@@oe@2-2-2013
21831036@unknown@formal@none@1@S@These include Jennifer Tilly's audition to be the Baker Boys' girl singer.@@@@1@12@@oe@2-2-2013
21831037@unknown@formal@none@1@S@Ms. Tilly of the tweety-bird voice showed great comic promise during her stint as the mobster's girlfriend on the television show, "Hill Street Blues."@@@@1@24@@oe@2-2-2013
21831038@unknown@formal@none@1@S@Here she delivers, especially during her enthusiastically awful rendition of the "Candy Man," which she sings while prancing around in a little cotton candy pink angora sweater that couldn't be more perfect.@@@@1@32@@oe@2-2-2013
21831039@unknown@formal@none@1@S@(It matches her voice.)@@@@1@4@@oe@2-2-2013
21831040@unknown@formal@none@1@S@And Ms. Pfeiffer's particular version of "Making Whoopee" -- and the way Mr. Ballhaus photographs her, from the tips of her red high heels right up her clingy red velvet dress -- might make you think of Marilyn Monroe if Ms. Pfeiffer hadn't gone and become a star in her own right.@@@@1@52@@oe@2-2-2013
21831041@unknown@formal@none@1@S@VIDEO TIP:@@@@1@2@@oe@2-2-2013
21831042@unknown@formal@none@1@S@If you'd like to see the first time Michelle Pfeiffer sang on screen, and you have a lot of patience, take a look at "Grease 2."@@@@1@26@@oe@2-2-2013
21831043@unknown@formal@none@1@S@You'll find her there.@@@@1@4@@oe@2-2-2013
21831044@unknown@formal@none@1@S@Better yet, check out the emergence of her comic persona in "Married to the Mob," Jonathan Demme's delightful Mafia comedy.@@@@1@20@@oe@2-2-2013
21832001@unknown@formal@none@1@S@International Proteins Corp. definitively agreed to pay $49 million and 2,850,000 of its shares for Hanson PLC's Ground Round restaurant subsidiary.@@@@1@21@@oe@2-2-2013
21832002@unknown@formal@none@1@S@Shareholders of International Proteins, a food and agriproducts company, will vote on the transaction at a meeting late next month.@@@@1@20@@oe@2-2-2013
21832003@unknown@formal@none@1@S@Hanson is a London producer of consumer and other goods.@@@@1@10@@oe@2-2-2013
21832004@unknown@formal@none@1@S@International Proteins shares didn't trade yesterday on the American Stock Exchange.@@@@1@11@@oe@2-2-2013
21832005@unknown@formal@none@1@S@They closed Tuesday in composite trading at $13.625, down 37.5 cents, giving the stock portion of the transaction an indicated value of $38.8 million.@@@@1@24@@oe@2-2-2013
21833001@unknown@formal@none@1@S@Control Data Corp. agreed to sell its idle supercomputer manufacturing plant here to Minnesota Mining & Manufacturing Co. for $5.8 million.@@@@1@21@@oe@2-2-2013
21833002@unknown@formal@none@1@S@The tentative agreement calls for 3M to use the 115,000-square-foot plant and 19 acres of land for research laboratories.@@@@1@19@@oe@2-2-2013
21833003@unknown@formal@none@1@S@Control Data has been seeking a buyer for the facility since it folded its ETA Systems Inc. supercomputer unit this past April.@@@@1@22@@oe@2-2-2013
21834001@unknown@formal@none@1@S@General Dynamics Corp. was awarded contracts totaling $589 million for one Navy Trident submarine and for Air Force research on the National Aerospace plane.@@@@1@24@@oe@2-2-2013
21834002@unknown@formal@none@1@S@Grumman Corp. won a $58.9 million Navy contract for 12 F-14 aircraft.@@@@1@12@@oe@2-2-2013
21834003@unknown@formal@none@1@S@Raytheon Co. was issued a $19.2 million Air Force contract for support of the Milstar communications satellite.@@@@1@17@@oe@2-2-2013
21834004@unknown@formal@none@1@S@McDonnell Douglas Corp. got a $12.5 million Air Force contract for support work on the National Aerospace plane.@@@@1@18@@oe@2-2-2013
21835001@unknown@formal@none@1@S@Denis C. Smith was named to the new post of vice president of world-wide advanced materials operations for this chemicals concern.@@@@1@21@@oe@2-2-2013
21835002@unknown@formal@none@1@S@Mr. Smith, 50 years old, was formerly responsible for advanced materials, which include plastic composites and alloys, in North America only.@@@@1@21@@oe@2-2-2013
21835003@unknown@formal@none@1@S@Himont is 81%-owned by Montedison S.p.A. of Milan, Italy.@@@@1@9@@oe@2-2-2013
21836001@unknown@formal@none@1@S@Galveston-Houston Co. said it will redeem all 3,950 shares of its privately held 6.5% convertible Series C preferred stock Nov. 8.@@@@1@21@@oe@2-2-2013
21836002@unknown@formal@none@1@S@Holders can either convert each share into 421 shares of the company's common stock, or surrender their shares at the per-share price of $1,000, plus accumulated dividends of $6.71 a share.@@@@1@31@@oe@2-2-2013
21836003@unknown@formal@none@1@S@Galveston-Houston makes and markets products for the construction, mining and energy industries.@@@@1@12@@oe@2-2-2013
21837001@unknown@formal@none@1@S@Bank Building & Equipment Corp. of America, which previously said accounting discrepancies its auditors uncovered would hurt earnings and require restatement of earlier results, increased its projections of the negative fiscal impact, and said it was exploring the company's sale.@@@@1@40@@oe@2-2-2013
21837002@unknown@formal@none@1@S@Bank Building, which builds and equips banks, had announced it would restate the first-three quarters of this fiscal year, which ends Oct. 31.@@@@1@23@@oe@2-2-2013
21837003@unknown@formal@none@1@S@On Oct. 5, the company estimated after-tax effects on the year's earnings would be "at least" $1.3 million.@@@@1@18@@oe@2-2-2013
21837004@unknown@formal@none@1@S@Yesterday, the company said the negative after-tax effect on earnings for the year will be about $3.3 million.@@@@1@18@@oe@2-2-2013
21837005@unknown@formal@none@1@S@For the nine months ended July 31, Bank Building had a net loss of $1 million, on revenue of $66.5 million.@@@@1@21@@oe@2-2-2013
21837006@unknown@formal@none@1@S@Bank Building, which expects to report a fourth-quarter loss, said it engaged advisers to "explore financial alternatives for the company including the possible sale of the company or one or more of its units."@@@@1@34@@oe@2-2-2013
21837007@unknown@formal@none@1@S@Company auditors are continuing their review, and final restated figures aren't yet available.@@@@1@13@@oe@2-2-2013
21837008@unknown@formal@none@1@S@Bank Building earlier said the restatement is necessitated by "certain errors in recording receivables and payables" at its Loughman Cabinet division.@@@@1@21@@oe@2-2-2013
21837009@unknown@formal@none@1@S@That division's manager has been fired.@@@@1@6@@oe@2-2-2013
21837010@unknown@formal@none@1@S@In American Stock Exchange composite trading, Bank Building closed at $4 a share, down 62.5 cents.@@@@1@16@@oe@2-2-2013
21838001@unknown@formal@none@1@S@Gen. Paul X. Kelley, retired commandant of the U.S. Marine Corps, was elected a director of this plastics, specialty materials and aerospace concern, succeeding Jewel Lafontant, who resigned to accept a government position.@@@@1@33@@oe@2-2-2013
21839001@unknown@formal@none@1@S@Rep. Mary Rose Oakar (D., Ohio) at last week's hearings on irregularities in programs at the Department of Housing and Urban Development:@@@@1@22@@oe@2-2-2013
21839002@unknown@formal@none@1@S@I don't want to feel guilty representing my constituents.@@@@1@9@@oe@2-2-2013
21839003@unknown@formal@none@1@S@And if I think that some people {on HUD Secretary Jack Kemp's} staff are off base in terms in which they're evaluating certain things affecting my hometown, I have to tell you something -- I'm not going to take it.@@@@1@40@@oe@2-2-2013
21839004@unknown@formal@none@1@S@I think that I'm elected to represent the people that sent me here.@@@@1@13@@oe@2-2-2013
21839005@unknown@formal@none@1@S@And one of our charges is to be an ombudsman for our area.@@@@1@13@@oe@2-2-2013
21839006@unknown@formal@none@1@S@And if we're not ombudsman for our area, we ought to be thrown out of office.@@@@1@16@@oe@2-2-2013
21839007@unknown@formal@none@1@S@On the other hand, if we're asking for something unreasonable or unethical and so on, then that's a whole different story.@@@@1@21@@oe@2-2-2013
21839008@unknown@formal@none@1@S@But if I feel that there are situations where I'm trying to get housing for our area -- whatever it happens to be -- and I have to feel that I can't even ask a question, I've got to tell you, I think that's outrageous. .@@@@1@46@@oe@2-2-2013
21839009@unknown@formal@none@1@S@I think these regulations that would prohibit well-operated programs in areas across this country would be wrong to change. . . .@@@@1@22@@oe@2-2-2013
21839010@unknown@formal@none@1@S@I don't want to see some guidelines change that's going to inhibit my city's opportunity to use its money.@@@@1@19@@oe@2-2-2013
21840001@unknown@formal@none@1@S@The Chicago Mercantile Exchange said it fined Capcom Futures Inc. $500,000 and accepted its withdrawal from membership as part of a settlement of disciplinary actions against the firm.@@@@1@28@@oe@2-2-2013
21840002@unknown@formal@none@1@S@Capcom Futures is a Chicago subsidiary of Capcom Financial Services Ltd., a London financial firm that was implicated last year in a scheme to launder drug money.@@@@1@27@@oe@2-2-2013
21840003@unknown@formal@none@1@S@The case is pending.@@@@1@4@@oe@2-2-2013
21840004@unknown@formal@none@1@S@The firm was indicted in Tampa, Fla., on money-laundering charges.@@@@1@10@@oe@2-2-2013
21840005@unknown@formal@none@1@S@In June, the Chicago Board of Trade said it suspended Capcom Financial.@@@@1@12@@oe@2-2-2013
21840006@unknown@formal@none@1@S@The Capcom Futures unit withdrew from Board of Trade membership voluntarily in August, a Board of Trade spokesman said.@@@@1@19@@oe@2-2-2013
21840007@unknown@formal@none@1@S@Capcom Futures, while neither admitting nor denying the Merc charges, said in a statement that the Merc charges were "technical in nature" and that "no customers were hurt" as a result of the violations cited by the Merc.@@@@1@38@@oe@2-2-2013
21840008@unknown@formal@none@1@S@The Merc alleged that, among other things, from April 1987 through October 1988 Capcom Futures failed to document trades between Capcom Futures and people or entities directly or indirectly controlled by Capcom Futures shareholders.@@@@1@34@@oe@2-2-2013
21841001@unknown@formal@none@1@S@Frederick W. Lang, 65 years old, the founder of this software services concern, was elected to the new post of chairman.@@@@1@21@@oe@2-2-2013
21841002@unknown@formal@none@1@S@Formerly president and treasurer, Mr. Lang remains chief executive officer.@@@@1@10@@oe@2-2-2013
21841003@unknown@formal@none@1@S@Victor C. Benda, 58, formerly executive vice president, succeeds Mr. Lang as president and becomes chief operating officer, a new post.@@@@1@21@@oe@2-2-2013
21842001@unknown@formal@none@1@S@Maurice Warren, 56-year-old group managing director, was named chief executive officer of this food and agriculture group.@@@@1@17@@oe@2-2-2013
21842002@unknown@formal@none@1@S@The post of chief executive has been vacant since July when Terry Pryce, 55, left the company.@@@@1@17@@oe@2-2-2013
21843001@unknown@formal@none@1@S@Money-market mutual fund assets grew at nearly three times their usual rate in the latest week, as investors opted for safety instead of the stock market.@@@@1@26@@oe@2-2-2013
21843002@unknown@formal@none@1@S@Money-fund assets soared $4.5 billion in the week ended Tuesday, to a record $348.4 billion, according to IBC/Donoghue's Money Fund Report, a Holliston, Mass.-based newsletter.@@@@1@25@@oe@2-2-2013
21843003@unknown@formal@none@1@S@"We were expecting it, following the fall of the Dow Friday," said Brenda Malizia Negus, editor of Money Fund Report.@@@@1@20@@oe@2-2-2013
21843004@unknown@formal@none@1@S@"It's the proverbial flight to safety."@@@@1@6@@oe@2-2-2013
21843005@unknown@formal@none@1@S@Despite recent declines in interest rates, money funds continue to offer better yields than other comparable investments.@@@@1@17@@oe@2-2-2013
21843006@unknown@formal@none@1@S@The average seven-day compound yield on the 400 taxable funds tracked by IBC/Donoghue's was 8.55% in the latest week, down from 8.60%.@@@@1@22@@oe@2-2-2013
21843007@unknown@formal@none@1@S@Compound yields assume reinvestment of dividends and that current yields continue for a year.@@@@1@14@@oe@2-2-2013
21843008@unknown@formal@none@1@S@Most short-term certificates of deposit are yielding about 8% or less at major banks, and the yields on Treasury bills sold at Monday's auction fell to 7.61% for three months and 7.82% for six months.@@@@1@35@@oe@2-2-2013
21843009@unknown@formal@none@1@S@Money-fund assets have been rising at an average rate of $1.6 billion a week in recent months, Ms. Negus said, reflecting the relatively high yields.@@@@1@25@@oe@2-2-2013
21843010@unknown@formal@none@1@S@In the latest week, funds open to institutions alone grew by $1.8 billion.@@@@1@13@@oe@2-2-2013
21843011@unknown@formal@none@1@S@Some fund managers say inflows could increase in coming days as a result of stock selling in the wake of Friday's 190.58point drop in the Dow Jones Industrial Average.@@@@1@29@@oe@2-2-2013
21843012@unknown@formal@none@1@S@"If you're selling equities, you don't start getting proceeds for five to seven days," said Frank Rachwalski, who manages the Kemper Money Market Fund.@@@@1@24@@oe@2-2-2013
21843013@unknown@formal@none@1@S@Neal Litvack, marketing vice president for Fidelity Investments, said inflows Friday into Fidelity's Spartan and Cash Reserves money-market funds were about twice normal levels, with about half coming from equity and junk-bond funds.@@@@1@33@@oe@2-2-2013
21843014@unknown@formal@none@1@S@Monday and Tuesday "were lackluster in comparison," he said.@@@@1@9@@oe@2-2-2013
21843015@unknown@formal@none@1@S@"People aren't necessarily running scared," Mr. Litvack said.@@@@1@8@@oe@2-2-2013
21843016@unknown@formal@none@1@S@"They're maintaining their attitude toward investing, which has leaned toward the conservative recently."@@@@1@13@@oe@2-2-2013
21843017@unknown@formal@none@1@S@Money-fund yields tend to lag interestrate trends as portfolio managers adjust the maturities of their investments -- short-term Treasury securities, commercial paper and the like -- to capture the highest yields.@@@@1@31@@oe@2-2-2013
21843018@unknown@formal@none@1@S@Maturities usually are shorter when rates are rising and longer when they are falling.@@@@1@14@@oe@2-2-2013
21843019@unknown@formal@none@1@S@The average maturity of the funds tracked by IBC/Donoghue's remained at 38 days for the third consecutive week.@@@@1@18@@oe@2-2-2013
21843020@unknown@formal@none@1@S@It was as short as 29 days at the start of this year, when rates were marching steadily upward, and hit 42 days in August.@@@@1@25@@oe@2-2-2013
21843021@unknown@formal@none@1@S@The average seven-day simple yield of the funds fell to 8.21% this week from 8.26%.@@@@1@15@@oe@2-2-2013
21843022@unknown@formal@none@1@S@The average 30-day simple yield was 8.26%, compared with 8.27% the week before, and the 30-day compound yield slid to 8.60% from 8.61%.@@@@1@23@@oe@2-2-2013
21843023@unknown@formal@none@1@S@Some funds are posting yields far higher than the average.@@@@1@10@@oe@2-2-2013
21843024@unknown@formal@none@1@S@The highest yielding taxable fund this week was Harbor Money Market Fund, with a seven-day compound yield of 12.75%.@@@@1@19@@oe@2-2-2013
21843025@unknown@formal@none@1@S@That included capital gains that were passed along to customers.@@@@1@10@@oe@2-2-2013
21843026@unknown@formal@none@1@S@Among the other high-yielding funds, Fidelity's Spartan Fund had a seven-day compound yield of 9.33% in the latest week.@@@@1@19@@oe@2-2-2013
21843027@unknown@formal@none@1@S@The seven-day compound yield of the Dreyfus Worldwide Dollar Fund was 9.51%.@@@@1@12@@oe@2-2-2013
21844001@unknown@formal@none@1@S@whose Della Femina McNamee WCRS agency created liar Joe Isuzu, among others -- announced a massive restructuring that largely removes it from the advertising business and includes selling the majority of its advertising unit to Paris-based Eurocom.@@@@1@37@@oe@2-2-2013
21844002@unknown@formal@none@1@S@The complex restructuring, which was long expected, transforms London-based WCRS from primarily a creator of advertising into one of Europe's largest buyers of advertising time and space.@@@@1@27@@oe@2-2-2013
21844003@unknown@formal@none@1@S@It also creates a newly merged world-wide ad agency controlled by Eurocom and headed jointly by New York ad man Jerry Della Femina and two top WCRS executives.@@@@1@28@@oe@2-2-2013
21844004@unknown@formal@none@1@S@The merged agency's admittedly ambitious goal: to become one of the world's 10 largest agencies, while attracting more multinational clients than the agencies were able to attract alone.@@@@1@28@@oe@2-2-2013
21844005@unknown@formal@none@1@S@WCRS's restructuring reflects the growing importance of media buying in Europe, where the only way to get a good price on advertising time and space is to buy it in bulk.@@@@1@31@@oe@2-2-2013
21844006@unknown@formal@none@1@S@For Eurocom, meanwhile, the move gives it a strong U.S. foothold in Della Femina, and more than quadruples the size of its ad agency business world-wide.@@@@1@26@@oe@2-2-2013
21844007@unknown@formal@none@1@S@It also gives the outspoken Mr. Della Femina -- who often generates as much publicity for himself as for his clients -- an international platform that he most certainly won't be loath to use.@@@@1@34@@oe@2-2-2013
21844008@unknown@formal@none@1@S@According to terms, WCRS will pay 2.02 billion French francs ($318.6 million) for the 50% it doesn't already own of Carat Holding S.A., one of Europe's largest media buyers.@@@@1@29@@oe@2-2-2013
21844009@unknown@formal@none@1@S@Meanwhile, Eurocom, which had held 20% of WCRS's ad unit, will pay #43.5 million ($68.5 million) to raise its stake to 60%.@@@@1@22@@oe@2-2-2013
21844010@unknown@formal@none@1@S@That price also covers Eurocom raising to 60% its 51% stake in Europe's Belier Group, a joint venture ad agency network it owns with WCRS.@@@@1@25@@oe@2-2-2013
21844011@unknown@formal@none@1@S@Eurocom will also have the right to buy the remaining 40% of the merged ad agency group in six years.@@@@1@20@@oe@2-2-2013
21844012@unknown@formal@none@1@S@The transaction places the three executives squarely at the helm of a major agency with the rather unwieldy name of Eurocom WCRS Della Femina Ball Ltd., or EWDB.@@@@1@28@@oe@2-2-2013
21844013@unknown@formal@none@1@S@The merged agency will include Della Femina McNamee based in New York, Eurocom's various agencies in France, the Belier Group in Europe and WCRS's other advertising and direct marketing operations.@@@@1@30@@oe@2-2-2013
21844014@unknown@formal@none@1@S@Mr. Della Femina will be joint chairman with former WCRS executive Robin Wight.@@@@1@13@@oe@2-2-2013
21844015@unknown@formal@none@1@S@Both will report to Tim Breene, a former WCRS executive who will be chief executive officer at the new agency.@@@@1@20@@oe@2-2-2013
21844016@unknown@formal@none@1@S@In an interview in New York, Mr. Breene, fresh from a Concorde flight from Paris where executives had worked through most of the night, outlined big plans for the new agency.@@@@1@31@@oe@2-2-2013
21844017@unknown@formal@none@1@S@"Our goal is to develop quite rapidly to a top-10 position . . . by the end of three years from now.@@@@1@22@@oe@2-2-2013
21844018@unknown@formal@none@1@S@It implies very dramatic growth," he said.@@@@1@7@@oe@2-2-2013
21844019@unknown@formal@none@1@S@He added that Eurocom and WCRS had agreed to provide a development fund of #100 million for acquisitions.@@@@1@18@@oe@2-2-2013
21844020@unknown@formal@none@1@S@The new agency group is already in discussions about a possible purchase in Spain, while Mr. Breene said it also plans to make acquisitions in Scandinavia, Germany and elsewhere.@@@@1@29@@oe@2-2-2013
21844021@unknown@formal@none@1@S@Cracking the top 10 within three years will be difficult at best.@@@@1@12@@oe@2-2-2013
21844022@unknown@formal@none@1@S@Della Femina had billings of just $660 million last year and ranked as the U.S.'s 24th-largest ad agency.@@@@1@18@@oe@2-2-2013
21844023@unknown@formal@none@1@S@The merged company that it now becomes part of will have billings of just more than $2.6 billion -- most of that in Europe -- bringing it to about 14th world-wide.@@@@1@31@@oe@2-2-2013
21844024@unknown@formal@none@1@S@To make it to top-10 status, it would have to leapfrog over such formidable forces as Grey Advertising, D'Arcy Masius Benton & Bowles and Omnicom's DDB Needham.@@@@1@27@@oe@2-2-2013
21844025@unknown@formal@none@1@S@The merged agency's game plan to attract multinational packaged-goods advertisers may prove equally difficult.@@@@1@14@@oe@2-2-2013
21844026@unknown@formal@none@1@S@When WCRS created Della Femina McNamee out of the merger of three smaller agency units in 1988, it said it did so in order to attract larger clients, especially packaged-goods companies.@@@@1@31@@oe@2-2-2013
21844027@unknown@formal@none@1@S@Since then, Della Femina won Pan Am as an international client and also does work for a few packaged-goods clients, including Dow Chemical Co.'s Saran Wrap.@@@@1@26@@oe@2-2-2013
21844028@unknown@formal@none@1@S@But major packaged-goods players of the world -- such as Procter & Gamble, Colgate-Palmolive and Unilever -- have steadfastly eluded the agency.@@@@1@22@@oe@2-2-2013
21844029@unknown@formal@none@1@S@"Three of our favorite names," Mr. Della Femina calls that roster, adding hopefully, "We're a much more attractive agency to large multinationals today than we were yesterday."@@@@1@27@@oe@2-2-2013
21844030@unknown@formal@none@1@S@Still, the restructuring could create one of the most powerful alliances between advertising and media-buying firms that Europe has seen.@@@@1@20@@oe@2-2-2013
21844031@unknown@formal@none@1@S@As part of the restructuring, WCRS and Eurocom said they will look for ways to combine their media buying across Europe.@@@@1@21@@oe@2-2-2013
21844032@unknown@formal@none@1@S@What's more, both Eurocom and brothers Francis and Gilbert Gross, who founded Carat, will acquire 14.99% stakes in WCRS Group, creating a powerful link between Eurocom and Carat.@@@@1@28@@oe@2-2-2013
21844033@unknown@formal@none@1@S@Carat will receive its WCRS stake as part of payment for the 50% Carat stake that WCRS is buying, while Eurocom said it expects to pay about #32 million for its WCRS stake.@@@@1@33@@oe@2-2-2013
21844034@unknown@formal@none@1@S@Mr. Della Femina says he plans to remain heavily involved in the creative product at the world-wide agency, serving as a sort of "creative conscience."@@@@1@25@@oe@2-2-2013
21844035@unknown@formal@none@1@S@Louise McNamee, Della Femina's president, will continue running the U.S. agency day-to-day.@@@@1@12@@oe@2-2-2013
21844036@unknown@formal@none@1@S@They and other top executives signed long-term employment contracts and Mr. Della Femina will receive an additional multimillion-dollar sum, which some industry executives pegged at about $10 million.@@@@1@28@@oe@2-2-2013
21844037@unknown@formal@none@1@S@WCRS Group, for its part, will now be able to follow its longstanding plan of becoming "a holding company for a series of media-related businesses," said Peter Scott, the firm's chief executive.@@@@1@32@@oe@2-2-2013
21844038@unknown@formal@none@1@S@In addition to Carat, WCRS will hold onto its public relations, TV programming and other businesses.@@@@1@16@@oe@2-2-2013
21844039@unknown@formal@none@1@S@WCRS says its debt will be cut to #24 million from #66 million as a result of the transaction.@@@@1@19@@oe@2-2-2013
21844040@unknown@formal@none@1@S@For Carat, meanwhile, the alliance with Eurocom and WCRS is intended to strengthen its own push outside France.@@@@1@18@@oe@2-2-2013
21844041@unknown@formal@none@1@S@Carat's Gross brothers invented the idea of large-scale buying of media space.@@@@1@12@@oe@2-2-2013
21844042@unknown@formal@none@1@S@By buying the space in bulk, they obtain discounts as high as 50%, which they can pass on to customers.@@@@1@20@@oe@2-2-2013
21844043@unknown@formal@none@1@S@They thus have won the French space-buying business of such advertising giants as Coca-Cola Co., Fiat S.p.A., Gillette and Kodak.@@@@1@20@@oe@2-2-2013
21844044@unknown@formal@none@1@S@But now, other agencies are getting into the business with their own competing media-buying groups -- and Carat wants to expand to the rest of Europe.@@@@1@26@@oe@2-2-2013
21844045@unknown@formal@none@1@S@To help finance the Carat purchase, WCRS said it plans an issue of Euroconvertible preferred shares once the market settles down.@@@@1@21@@oe@2-2-2013
21844046@unknown@formal@none@1@S@But WCRS added that "in the light of the current uncertainty in the equity markets," it has arranged medium-term debt financing, which would be underwritten by Samuel Montagu & Co. Ltd.@@@@1@31@@oe@2-2-2013
21844047@unknown@formal@none@1@S@Earthquake's Damage@@@@1@2@@oe@2-2-2013
21844048@unknown@formal@none@1@S@Tuesday's earthquake brought the San Francisco ad scene to a screeching halt yesterday, with only a few staffers showing up at their offices, mainly to survey the damage or to wring their hands about imminent new-business presentations.@@@@1@37@@oe@2-2-2013
21844049@unknown@formal@none@1@S@While no agencies reported injuries to employees, the quake damaged the offices of J. Walter Thompson, Chiat/Day/Mojo and DDB Needham, among others, spokesmen for those agencies said.@@@@1@27@@oe@2-2-2013
21844050@unknown@formal@none@1@S@Staffers at Thompson, whose offices are in the ultramodern Embarcadero Center, watched pictures drop from the walls and then felt the skyscraper sway seven to eight feet, according to a spokeswoman.@@@@1@31@@oe@2-2-2013
21844051@unknown@formal@none@1@S@Plaster fell and windows were broken at Chiat/Day/Mojo, a spokesman for that agency said.@@@@1@14@@oe@2-2-2013
21844052@unknown@formal@none@1@S@Late yesterday afternoon, DDB Needham executives were scrambling to figure out what to do about a new business presentation that had been scheduled for today, a spokesman said.@@@@1@28@@oe@2-2-2013
21844053@unknown@formal@none@1@S@DDB Needham's office building may have sustained structural damage, the spokesman added.@@@@1@12@@oe@2-2-2013
21844054@unknown@formal@none@1@S@"All operations have stopped," he said.@@@@1@6@@oe@2-2-2013
21844055@unknown@formal@none@1@S@A number of agencies, including Thompson and Foote, Cone & Belding, said some employees who live outside of San Francisco, fearful that they wouldn't be able to get home, spent the night at the agency.@@@@1@35@@oe@2-2-2013
21844056@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
21844057@unknown@formal@none@1@S@NEW ACCOUNT:@@@@1@2@@oe@2-2-2013
21844058@unknown@formal@none@1@S@Chesebrough-Pond's Inc., Greenwich, Conn., awarded its Faberge hair care accounts to J. Walter Thompson, New York.@@@@1@16@@oe@2-2-2013
21844059@unknown@formal@none@1@S@Thompson, a unit of WPP Group, will handle Faberge Organic shampoo and conditioner and Aqua Net hairspray.@@@@1@17@@oe@2-2-2013
21844060@unknown@formal@none@1@S@The accounts, which billed about $7 million last year, according to Leading National Advertisers, were previously handled at Bozell, New York.@@@@1@21@@oe@2-2-2013
21844061@unknown@formal@none@1@S@WHO'S NEWS:@@@@1@2@@oe@2-2-2013
21844062@unknown@formal@none@1@S@William Morrissey, 44, was named executive vice president, world-wide director of McCann Direct, the direct marketing unit of Interpublic Group's McCann-Erickson agency.@@@@1@22@@oe@2-2-2013
21844063@unknown@formal@none@1@S@He had been president and chief operating officer of Ogilvy & Mather Direct.@@@@1@13@@oe@2-2-2013
21844064@unknown@formal@none@1@S@BOZELL:@@@@1@1@@oe@2-2-2013
21844065@unknown@formal@none@1@S@Los Angeles will be the site of a new entertainment division for the ad agency.@@@@1@15@@oe@2-2-2013
21844066@unknown@formal@none@1@S@The division will be headed by Dick Porter, who returns to Bozell after being vice president of media at MGM.@@@@1@20@@oe@2-2-2013
21844067@unknown@formal@none@1@S@AC&R ADVERTISING:@@@@1@2@@oe@2-2-2013
21844068@unknown@formal@none@1@S@The agency's three California offices, previously called AC&R/CCL Advertising, will now be called AC&R Advertising to match the name of its New York office.@@@@1@24@@oe@2-2-2013
21844069@unknown@formal@none@1@S@AC&R Advertising is a unit of Saatchi & Saatchi Co.@@@@1@10@@oe@2-2-2013
21844070@unknown@formal@none@1@S@NEW BEER:@@@@1@2@@oe@2-2-2013
21844071@unknown@formal@none@1@S@Sibra Products Inc., Greenwich, Conn., awarded its Cardinal Amber Light beer account to Heidelberg & Associates, New York.@@@@1@18@@oe@2-2-2013
21844072@unknown@formal@none@1@S@Budget is set at $1.5 million.@@@@1@6@@oe@2-2-2013
21844073@unknown@formal@none@1@S@The new beer, introduced this week at a liquor industry convention, is imported from Switzerland's Cardinal brewery.@@@@1@17@@oe@2-2-2013
21844074@unknown@formal@none@1@S@Heidelberg's first ads for the brand, which Sibra says will compete with imported light beer leader Amstel Light, feature the line "The best tasting light beer you've ever seen.@@@@1@29@@oe@2-2-2013
21845001@unknown@formal@none@1@S@Diamond-Star Motors Corp., a joint venture of Chrysler Corp. and Mitsubishi Motors Corp. said it will begin shipping Mitsubishi Eclipse cars to Japan next week, emulating other Japanese auto ventures shipping U.S.-built vehicles back to Japan.@@@@1@36@@oe@2-2-2013
21845002@unknown@formal@none@1@S@Diamond-Star said it will export about 1,500 Eclipse cars to Japan by year's end.@@@@1@14@@oe@2-2-2013
21845003@unknown@formal@none@1@S@Honda Motor Co., the first Japanese auto maker to ship cars to Japan from the U.S., is now exporting more than 5,000 Accord Coupes a year from its Marysville, Ohio, factory.@@@@1@31@@oe@2-2-2013
21846001@unknown@formal@none@1@S@One of the most remarkable features of the forced marches of the ethnic Turks out of Bulgaria over the past five months has been the lack of international attention.@@@@1@29@@oe@2-2-2013
21846002@unknown@formal@none@1@S@The deportation of more than 315,000 men, women and children by the Bulgarian regime adds up to one of the largest migrations seen in the postwar years.@@@@1@27@@oe@2-2-2013
21846003@unknown@formal@none@1@S@Yet some people are advancing a chilling casuistry: that what we are seeing is somehow the understandable result of the historical sins committed by the Turks in the 16th century.@@@@1@30@@oe@2-2-2013
21846004@unknown@formal@none@1@S@Today's Turks in Bulgaria, in other words, deserve what is coming to them four centuries later.@@@@1@16@@oe@2-2-2013
21846005@unknown@formal@none@1@S@As if this weren't enough, the Senate Judiciary Committee is getting into the act.@@@@1@14@@oe@2-2-2013
21846006@unknown@formal@none@1@S@On Tuesday it approved Senator Bob Dole's proposed commemorative resolution designating April 24, 1990, as the "National Day of Remembrance of the 75th Anniversary of the Armenian Genocide of 1915-1923," suffered at the hands of the warring Ottoman Empire.@@@@1@39@@oe@2-2-2013
21846007@unknown@formal@none@1@S@There can be no quibbling that the Armenians endured terrible suffering, but one has to wonder what possible good such a resolution will achieve.@@@@1@24@@oe@2-2-2013
21846008@unknown@formal@none@1@S@It puts great strain on a longstanding U.S. friendship with Turkey, a country that has been one of America's strongest allies in NATO.@@@@1@23@@oe@2-2-2013
21846009@unknown@formal@none@1@S@The resolution also comes at a time when Turkey has been seeking help from the United States in resolving its Bulgarian emigration controversy and pursuing democratic reforms that may lead to membership in the European Community.@@@@1@36@@oe@2-2-2013
21846010@unknown@formal@none@1@S@Turkey has been fighting its past for years, and thus far has been only partially successful.@@@@1@16@@oe@2-2-2013
21846011@unknown@formal@none@1@S@Must it now accept that one of its strongest allies blames it for the genocide of another people?@@@@1@18@@oe@2-2-2013
21846012@unknown@formal@none@1@S@Such sentiment only encourages the adverse feelings toward Turkey that surfaced when Turkey asked for assistance in dealing with its Bulgarian emigration crisis.@@@@1@23@@oe@2-2-2013
21846013@unknown@formal@none@1@S@Mr. Dole's odd effort notwithstanding, most of Turkey's political problems lie with the Europeans.@@@@1@14@@oe@2-2-2013
21846014@unknown@formal@none@1@S@Part of the problem some Europeans have with Turkey seems to stem from its location -- Turkey isn't really part of Europe.@@@@1@22@@oe@2-2-2013
21846015@unknown@formal@none@1@S@Why, they wonder, should it belong to the EC?@@@@1@9@@oe@2-2-2013
21846016@unknown@formal@none@1@S@Another anti-Turkish hook is the Islamic faith of the majority of the Turkish people: Turkey, we are told, is not a Christian nation; its people simply won't fit in with the Western European Judeo-Christian tradition.@@@@1@35@@oe@2-2-2013
21846017@unknown@formal@none@1@S@It's when these rationalizations fall on deaf ears that the old standby of retribution for treatment at the hands of the Ottoman Empire comes to the fore.@@@@1@27@@oe@2-2-2013
21846018@unknown@formal@none@1@S@No one has to accept the sins of the Ottoman Empire to reject that argument.@@@@1@15@@oe@2-2-2013
21846019@unknown@formal@none@1@S@Turkey in any event is long past it.@@@@1@8@@oe@2-2-2013
21846020@unknown@formal@none@1@S@The country has in recent years accepted more than 500,000 refugees from at least four bordering nations.@@@@1@17@@oe@2-2-2013
21846021@unknown@formal@none@1@S@Kurds, suffering what many people consider to be a current extermination campaign at the hands of Syria, Iran and Iraq have inundated eastern Turkey.@@@@1@24@@oe@2-2-2013
21846022@unknown@formal@none@1@S@Now it is their fellow Turks arriving as refugees from Bulgaria.@@@@1@11@@oe@2-2-2013
21846023@unknown@formal@none@1@S@The Turkish refugee tragedy and the ongoing crisis cannot be ignored and shuttled off to that notorious dustbin of history that has become so convenient recently.@@@@1@26@@oe@2-2-2013
21846024@unknown@formal@none@1@S@Surely, the past suffering of any people at any time cannot be simply filed away and forgotten.@@@@1@17@@oe@2-2-2013
21846025@unknown@formal@none@1@S@But what the Senate Judiciary Committee has done in supporting the strongly worded Armenian resolution achieves no useful end; it merely produces more controversy and embittered memories.@@@@1@27@@oe@2-2-2013
21846026@unknown@formal@none@1@S@Congress has enough difficulty dealing with the realities of the world as it currently exists.@@@@1@15@@oe@2-2-2013
21846027@unknown@formal@none@1@S@Bulgaria's government has been behaving beyond the pale for months, and the U.S. does its values no credit by ignoring that while casting its votes into the past.@@@@1@28@@oe@2-2-2013
21847001@unknown@formal@none@1@S@Many in Washington say President Bush will have to raise taxes to pay for his war on drugs.@@@@1@18@@oe@2-2-2013
21847002@unknown@formal@none@1@S@We have a better idea: Dismantle HUD to pay for the war on drugs.@@@@1@14@@oe@2-2-2013
21847003@unknown@formal@none@1@S@Housing and Urban Development's budget is $17 billion.@@@@1@8@@oe@2-2-2013
21847004@unknown@formal@none@1@S@From what we and the nation have been reading, the money isn't being spent very well.@@@@1@16@@oe@2-2-2013
21847005@unknown@formal@none@1@S@The single most important contribution the government could make now to help the poor is to get the specter of drugs out of their neighborhoods.@@@@1@25@@oe@2-2-2013
21847006@unknown@formal@none@1@S@If that takes money, take it away from this discredited federal department.@@@@1@12@@oe@2-2-2013
21847007@unknown@formal@none@1@S@But of course the Democrats pillorying HUD in hearings and in the press have no such solution in mind.@@@@1@19@@oe@2-2-2013
21847008@unknown@formal@none@1@S@Instead, they're scrambling to protect the very programs at the heart of the HUD scandal.@@@@1@15@@oe@2-2-2013
21847009@unknown@formal@none@1@S@This month, HUD Secretary Jack Kemp unveiled a series of proposed reforms to improve management at HUD.@@@@1@17@@oe@2-2-2013
21847010@unknown@formal@none@1@S@No doubt many of his ideas are worthy, but ultimately he is proposing to make fundamentally flawed programs work slightly more fairly and efficiently.@@@@1@24@@oe@2-2-2013
21847011@unknown@formal@none@1@S@Congress is unlikely to go even that far.@@@@1@8@@oe@2-2-2013
21847012@unknown@formal@none@1@S@Last week, Secretary Kemp ran into a buzzsaw of criticism from House Banking Committee members.@@@@1@15@@oe@2-2-2013
21847013@unknown@formal@none@1@S@They were appalled, for instance, that he wanted to target more of the $3 billion Community Development Block Grant (CDBG) program to low-income projects and zero out the notorious "discretionary" funds that have allowed HUD officials to steer contracts to political cronies.@@@@1@42@@oe@2-2-2013
21847014@unknown@formal@none@1@S@These development grants mainly enrich developers who want to put up shopping centers and parking garages.@@@@1@16@@oe@2-2-2013
21847015@unknown@formal@none@1@S@They also give those in Congress political credit for bringing home the pork, and so they are popular with such Members as Mary Rose Oakar.@@@@1@25@@oe@2-2-2013
21847016@unknown@formal@none@1@S@Rep. Oakar, a Democrat from Cleveland, wants a $6.9 million grant so Cleveland can build an 18-story Rock and Roll Hall of Fame.@@@@1@23@@oe@2-2-2013
21847017@unknown@formal@none@1@S@She says it'd create 600 jobs and bring Cleveland tourist revenue.@@@@1@11@@oe@2-2-2013
21847018@unknown@formal@none@1@S@HUD says the project doesn't qualify, and Mr. Kemp says that rock 'n' roll musicians and the music industry ought to put up the money.@@@@1@25@@oe@2-2-2013
21847019@unknown@formal@none@1@S@At the hearing, Rep. Oakar started wailing about "phoney baloney regulations" that would stand between her and "housing for downtown Cleveland."@@@@1@21@@oe@2-2-2013
21847020@unknown@formal@none@1@S@Rep. Chalmers Wylie, an Ohio Republican, rallied to the cause: "I think the gentlelady is making an important statement.@@@@1@19@@oe@2-2-2013
21847021@unknown@formal@none@1@S@The implication that if a congressman calls about a project in his district there's something wrong, I think is most unfortunate."@@@@1@21@@oe@2-2-2013
21847022@unknown@formal@none@1@S@We're sure some theologian can explain the difference between what the Republican consultants have been doing with HUD and what these gentleladies and gentlemen want to do with HUD.@@@@1@29@@oe@2-2-2013
21847023@unknown@formal@none@1@S@Our view is that given Congress's attitude toward HUD, the place probably is beyond reform.@@@@1@15@@oe@2-2-2013
21847024@unknown@formal@none@1@S@For more than 50 years the federal government has tried various ways to provide housing for the poor and revive cities.@@@@1@21@@oe@2-2-2013
21847025@unknown@formal@none@1@S@In the process HUD has wasted untold billions, created slums and invited corruption.@@@@1@13@@oe@2-2-2013
21847026@unknown@formal@none@1@S@Much of HUD's spending actually is disguised welfare for developers or the middle class.@@@@1@14@@oe@2-2-2013
21847027@unknown@formal@none@1@S@That includes the CDBG funds and the Federal Housing Administration, which loans out money for private home mortgages and has just been discovered to be $4 billion in the hole.@@@@1@30@@oe@2-2-2013
21847028@unknown@formal@none@1@S@Selling the FHA's loan portfolio to the highest bidder would save the taxpayers untold billions in future losses.@@@@1@18@@oe@2-2-2013
21847029@unknown@formal@none@1@S@Some HUD money actually does trickle down to the poor, and zeroing out housing middlemen would free up more money for public housing tenants to manage and even own their units.@@@@1@31@@oe@2-2-2013
21847030@unknown@formal@none@1@S@The rest ought to be used to clean out drugs from the neighbhorhoods.@@@@1@13@@oe@2-2-2013
21847031@unknown@formal@none@1@S@Rival gangs have turned cities into combat zones.@@@@1@8@@oe@2-2-2013
21847032@unknown@formal@none@1@S@Even suburban Prince George's County, Md., reported last week there have been a record 96 killings there this year, most of them drug-related.@@@@1@23@@oe@2-2-2013
21847033@unknown@formal@none@1@S@Innocent bystanders often are the victims.@@@@1@6@@oe@2-2-2013
21847034@unknown@formal@none@1@S@A man in a wheelchair was gunned down in the crossfire of a Miami drug battle.@@@@1@16@@oe@2-2-2013
21847035@unknown@formal@none@1@S@A three-year-old Brooklyn boy was used as a shield by a drug dealer.@@@@1@13@@oe@2-2-2013
21847036@unknown@formal@none@1@S@Decent life in the inner cities won't be restored unless the government reclaims the streets from the drug gangs.@@@@1@19@@oe@2-2-2013
21847037@unknown@formal@none@1@S@Until then, the billions HUD spends on inner-city housing simply is wasted.@@@@1@12@@oe@2-2-2013
21847038@unknown@formal@none@1@S@It's still unclear whether Secretary Kemp wants to completely overhaul the engine room at HUD or just tighten a few screws here and there.@@@@1@24@@oe@2-2-2013
21847039@unknown@formal@none@1@S@No doubt he believes the place can be salvaged.@@@@1@9@@oe@2-2-2013
21847040@unknown@formal@none@1@S@Having seen the hypocrisy with which Congress has addressed the HUD scandals, we disagree.@@@@1@14@@oe@2-2-2013
21847041@unknown@formal@none@1@S@It's time to scrap the politically infested spending machine HUD has become and channel the resources into the drug war.@@@@1@20@@oe@2-2-2013
21848001@unknown@formal@none@1@S@Randy Delchamps was named chairman and chief executive officer of this grocery chain.@@@@1@13@@oe@2-2-2013
21848002@unknown@formal@none@1@S@Mr. Delchamps, 46 years old, succeeds A.F. Delchamps Jr., who died in a plane crash on Sunday at the age of 58.@@@@1@22@@oe@2-2-2013
21848003@unknown@formal@none@1@S@Randy Delchamps retains his position as president.@@@@1@7@@oe@2-2-2013
21849001@unknown@formal@none@1@S@Natural upheavals, and most particularly earthquakes, are not only horrible realities in and of themselves, but also symbols through which the state of a society can be construed.@@@@1@28@@oe@2-2-2013
21849002@unknown@formal@none@1@S@The rubble after the Armenian earthquake a year ago disclosed, quite literally, a city whose larger structures had been built with sand.@@@@1@22@@oe@2-2-2013
21849003@unknown@formal@none@1@S@The extent of the disaster stemmed from years of chicanery and bureaucratic indifference.@@@@1@13@@oe@2-2-2013
21849004@unknown@formal@none@1@S@The larger parallel after the earthquake centered south of San Francisco is surely with the state of the U.S. economy.@@@@1@20@@oe@2-2-2013
21849005@unknown@formal@none@1@S@Did the stock-market tremors of Friday, Oct. 13, presage larger fragility, far greater upheavals?@@@@1@14@@oe@2-2-2013
21849006@unknown@formal@none@1@S@Are the engineering and architecture of the economy as vulnerable as the spans of the Bay Bridge?@@@@1@17@@oe@2-2-2013
21849007@unknown@formal@none@1@S@The eerie complacency of the Reagan-Bush era has produced Panglossian paeans about the present perfection of U.S. economic and social arrangements.@@@@1@21@@oe@2-2-2013
21849008@unknown@formal@none@1@S@A licensed government intellectual, Francis Fukuyama, recently announced in The National Interest that history is, so to speak, at an end since the course of human progress has now culminated in the glorious full stop of American civilization.@@@@1@38@@oe@2-2-2013
21849009@unknown@formal@none@1@S@His observations were taken seriously.@@@@1@5@@oe@2-2-2013
21849010@unknown@formal@none@1@S@But we are, in reality, witnessing the continuing decline of the political economy of capitalism: not so much the end of history but the history of the end.@@@@1@28@@oe@2-2-2013
21849011@unknown@formal@none@1@S@The financial equivalent of the sand used by those Armenian contractors is junk bonds and the leveraged buy-outs associated with them.@@@@1@21@@oe@2-2-2013
21849012@unknown@formal@none@1@S@Builders get away with using sand and financiers junk when society decides it's okay, necessary even, to look the other way.@@@@1@21@@oe@2-2-2013
21849013@unknown@formal@none@1@S@And by the early 1980s U.S. capitalists had ample reason to welcome junk bonds, to look the other way.@@@@1@19@@oe@2-2-2013
21849014@unknown@formal@none@1@S@By that time they found extremely low profit rates from non-financial corporate investment.@@@@1@13@@oe@2-2-2013
21849015@unknown@formal@none@1@S@Government statistics in fact show that the profit rate -- net pretax profits divided by capital stock -- peaked in 1965 at 17.2%.@@@@1@23@@oe@2-2-2013
21849016@unknown@formal@none@1@S@That same calculation saw profit rates fall to 4.6% in the recession year 1982 and the supposed miracle that followed has seen the profit rate rise only to 8.1% in 1986 and 8% in 1987.@@@@1@35@@oe@2-2-2013
21849017@unknown@formal@none@1@S@Corresponding to the fall in profit rates was -- in the early 1980s -- the drop in the number arrived at if you divide the market value of firms by the replacement costs of their assets, the famous Q ratio associated with Prof. James Tobin.@@@@1@45@@oe@2-2-2013
21849018@unknown@formal@none@1@S@In theory, the value attached to a firm by the market and the cost of replacing its assets should be the same.@@@@1@22@@oe@2-2-2013
21849019@unknown@formal@none@1@S@But of course the market could decide that the firm's capital stock -- its assets -- means nothing if the firm is not producing profits.@@@@1@25@@oe@2-2-2013
21849020@unknown@formal@none@1@S@This is indeed what the market decided.@@@@1@7@@oe@2-2-2013
21849021@unknown@formal@none@1@S@By 1982 the ratio was 43.5%, meaning that the market was valuing every dollar's worth of the average firm's assets at 43 cents.@@@@1@23@@oe@2-2-2013
21849022@unknown@formal@none@1@S@From the history of capitalism we can take it as a sound bet that if it takes only 43 cents to buy a dollar's worth of a firm's capital stock, an alert entrepreneur won't look the other way.@@@@1@38@@oe@2-2-2013
21849023@unknown@formal@none@1@S@His assumption is that the underlying profitability rate will go up and the capital assets he bought on the cheap will soon be producing profits, thus restoring the market's faith in them.@@@@1@32@@oe@2-2-2013
21849024@unknown@formal@none@1@S@Hence the LBO craze.@@@@1@4@@oe@2-2-2013
21849025@unknown@formal@none@1@S@But here is where the entrepreneur made a very risky bet, and where society was maybe foolish to look the other way.@@@@1@22@@oe@2-2-2013
21849026@unknown@formal@none@1@S@The profit rate is still low and the Q ratio was only 65% in 1987 and 68.9% in 1988.@@@@1@19@@oe@2-2-2013
21849027@unknown@formal@none@1@S@Result: a landscape littered with lemons, huge debt burdens crushing down upon the arch and spans of corporate America.@@@@1@19@@oe@2-2-2013
21849028@unknown@formal@none@1@S@The mounting risks did not go unobserved, even in the mid-1980s.@@@@1@11@@oe@2-2-2013
21849029@unknown@formal@none@1@S@But there were enough promoters announcing the end of history (in this case suspension of normal laws of economic gravity) for society to continue shielding its eyes.@@@@1@27@@oe@2-2-2013
21849030@unknown@formal@none@1@S@Mainstream economists and commentators, craning their necks up at the great pyramids of junk financing, swiveling their heads to watch the avalanche of leveraged buy-outs, claimed the end result would be a leaner, meaner corporate America, with soaring productivity and profits and the weaker gone to the wall.@@@@1@48@@oe@2-2-2013
21849031@unknown@formal@none@1@S@But this is not where the rewards of junk financing were found.@@@@1@12@@oe@2-2-2013
21849032@unknown@formal@none@1@S@The beneficiaries were those financiers whose icon was the topic figure of '80s capitalism, Michael Milken's $517 million salary in one year.@@@@1@22@@oe@2-2-2013
21849033@unknown@formal@none@1@S@Left-stream economists I associate with -- fellows in the Union of Radical Political Economists, most particularly Robert Pollin of the economics faculty at the University of California at Riverside -- were not hypnotized in the manner of their pliant colleagues.@@@@1@40@@oe@2-2-2013
21849034@unknown@formal@none@1@S@All along they have been noting the tremors and pointing out the underlying realities.@@@@1@14@@oe@2-2-2013
21849035@unknown@formal@none@1@S@Profit rates after the great merger wave are no higher, and now we have an extremely high-interest burden relative to cash flow.@@@@1@22@@oe@2-2-2013
21849036@unknown@formal@none@1@S@The consequences of building empires with sand are showing up.@@@@1@10@@oe@2-2-2013
21849037@unknown@formal@none@1@S@In contrast to previous estimates reckoning the default rate on junk bonds at 2% or 3%, a Harvard study published in April of this year (and discussed in a lead story in The Wall Street Journal for Sept. 18) found the default rate on these junk bonds is 34%.@@@@1@49@@oe@2-2-2013
21849038@unknown@formal@none@1@S@What is the consequence of a high-interest burden, high default rates and continued low profitability?@@@@1@15@@oe@2-2-2013
21849039@unknown@formal@none@1@S@Corporations need liquidity, in the form of borrowed funds.@@@@1@9@@oe@2-2-2013
21849040@unknown@formal@none@1@S@Without liquidity from the junk-bond market or cash flow from profits, they look to the government, which obediently assists the natural motions of the capitalist economy with charity in the form of cuts in the capital-gains tax rate or bailouts.@@@@1@40@@oe@2-2-2013
21849041@unknown@formal@none@1@S@The consequence can be inflation, brought on as the effect of a desperate bid to avoid the deflationary shock of a sudden crash.@@@@1@23@@oe@2-2-2013
21849042@unknown@formal@none@1@S@Attacks on inflation come with another strategy of capital of a very traditional sort: an assault on wages.@@@@1@18@@oe@2-2-2013
21849043@unknown@formal@none@1@S@Mr. Fukuyama, peering through binoculars at the end of history, said in his essay that "the class issue has actually been successfully resolved in the West . . .@@@@1@29@@oe@2-2-2013
21849044@unknown@formal@none@1@S@the egalitarianism of modern America represents the essential achievement of the classless society envisioned by Marx."@@@@1@16@@oe@2-2-2013
21849045@unknown@formal@none@1@S@Mr. Fukuyama might want to consult some American workers on the subject of class and egalitarianism.@@@@1@16@@oe@2-2-2013
21849046@unknown@formal@none@1@S@From its peak in 1972 of $198.41, the average American weekly wage had fallen to $169.28 in 1987 -- both figures being expressed in 1977 dollars.@@@@1@26@@oe@2-2-2013
21849047@unknown@formal@none@1@S@In other words, after the glory boom of the Reagan years, wages had sunk from the post World War II peak by 16% as capitalists, helped by the government, turned down the screws or went offshore.@@@@1@36@@oe@2-2-2013
21849048@unknown@formal@none@1@S@But there are signs now -- the strikes by miners, Boeing workers, telephone workers, etc. -- that this attack on wages is being more fiercely resisted.@@@@1@26@@oe@2-2-2013
21849049@unknown@formal@none@1@S@These are long-term Richter readings on American capitalism.@@@@1@8@@oe@2-2-2013
21849050@unknown@formal@none@1@S@The whole structure is extremely shaky.@@@@1@6@@oe@2-2-2013
21849051@unknown@formal@none@1@S@Governments have become sophisticated in handling moments of panic (a word the London Times forbade my father to use when he was reporting the Wall Street crash in 1929).@@@@1@29@@oe@2-2-2013
21849052@unknown@formal@none@1@S@But sophistication has its limits.@@@@1@5@@oe@2-2-2013
21849053@unknown@formal@none@1@S@The S&L bailout could cost $300 billion, computing interest on the government's loans.@@@@1@13@@oe@2-2-2013
21849054@unknown@formal@none@1@S@These are real costs.@@@@1@4@@oe@2-2-2013
21849055@unknown@formal@none@1@S@Under what weights will the Federal Deposit Insurance Corporation totter?@@@@1@10@@oe@2-2-2013
21849056@unknown@formal@none@1@S@Capitalism may now be engineered to withstand sudden shocks, but there are fault lines -- the crisis in profits, the assault on wages, the structural inequity of the system -- that make fools of those who claim that the future is here and that history is over.@@@@1@47@@oe@2-2-2013
21849057@unknown@formal@none@1@S@Mr. Cockburn is a columnist for The Nation and LA Weekly.@@@@1@11@@oe@2-2-2013
21850001@unknown@formal@none@1@S@Japan Air Lines, Lufthansa German Airlines and Air France reportedly plan to form an international air-freight company this year, a move that could further consolidate the industry.@@@@1@27@@oe@2-2-2013
21850002@unknown@formal@none@1@S@Japanese newspaper Nihon Keizai Shimbun reported that the three giants plan to integrate their cargo computers and ground-cargo and air-cargo systems.@@@@1@21@@oe@2-2-2013
21850003@unknown@formal@none@1@S@They reportedly will invest a total of 20 billion yen ($140 million) in the venture, whose headquarters would be in France or West Germany.@@@@1@24@@oe@2-2-2013
21850004@unknown@formal@none@1@S@The action follows Federal Express Corp.'s acquisition of Flying Tiger Line Inc. in August.@@@@1@14@@oe@2-2-2013
21850005@unknown@formal@none@1@S@After that, "it would make sense for airlines to talk about doing things jointly," said Cotton Daly, director of cargo services for New York consulting firm Simat, Helliesen & Eichner Inc.@@@@1@31@@oe@2-2-2013
21850006@unknown@formal@none@1@S@Mr. Daly said such discussions are motivated by the competitive threat posed by Federal Express, United Parcel Service of America Inc. and other fast-growing air-freight companies.@@@@1@26@@oe@2-2-2013
21850007@unknown@formal@none@1@S@Many airlines are talking about cargo ventures, and there have been rumors about such a tie between JAL and European airlines.@@@@1@21@@oe@2-2-2013
21850008@unknown@formal@none@1@S@In Tokyo, a JAL spokesman said he couldn't confirm or deny the latest Japanese report.@@@@1@15@@oe@2-2-2013
21850009@unknown@formal@none@1@S@But he said JAL is talking to Lufthansa and Air France about some sort of cargo venture.@@@@1@17@@oe@2-2-2013
21850010@unknown@formal@none@1@S@"It is just one of a number of strategies JAL has embarked upon to come to terms with the situation in Europe after 1992," the deadline for ending trade barriers in the EC, he said.@@@@1@35@@oe@2-2-2013
21850011@unknown@formal@none@1@S@In Frankfurt, a Lufthansa spokesman confirmed talks are under way, but declined to comment.@@@@1@14@@oe@2-2-2013
21850012@unknown@formal@none@1@S@A Lufthansa spokeswoman in Tokyo said the head of Lufthansa's cargo operations had been in Toyko last week for talks with JAL.@@@@1@22@@oe@2-2-2013
21850013@unknown@formal@none@1@S@In Paris, Air France declined to comment.@@@@1@7@@oe@2-2-2013
21850014@unknown@formal@none@1@S@"Nothing is defined or signed at this point," Mr. Daly said of the talks.@@@@1@14@@oe@2-2-2013
21850015@unknown@formal@none@1@S@Whatever accord the three carriers reach, he said, he is skeptical it would create a separate airline.@@@@1@17@@oe@2-2-2013
21850016@unknown@formal@none@1@S@If the three companies pool their air-freight businesses, their clout would be considerable.@@@@1@13@@oe@2-2-2013
21850017@unknown@formal@none@1@S@According to figures from the International Air Transport Association, they carried a combined 1.8 million tons of freight last year.@@@@1@20@@oe@2-2-2013
21850018@unknown@formal@none@1@S@Federal Express and Flying Tiger, as separate companies, carried a combined 2.6 million tons.@@@@1@14@@oe@2-2-2013
21850019@unknown@formal@none@1@S@Air France and Lufthansa last month concluded a far-reaching cooperation accord that includes air-freight activities.@@@@1@15@@oe@2-2-2013
21850020@unknown@formal@none@1@S@They plan to increase cooperation in freight ground-handling and create a world-wide computer system to process cargo.@@@@1@17@@oe@2-2-2013
21850021@unknown@formal@none@1@S@Other airlines would have access to the system, they said, and negotiations with partners were already under way.@@@@1@18@@oe@2-2-2013
21850022@unknown@formal@none@1@S@Both European airlines operate extensive fleets of Boeing 747 freighters and 747 Combis, aircraft that carry both freight and passengers on the main deck.@@@@1@24@@oe@2-2-2013
21850023@unknown@formal@none@1@S@They currently have large orders for cargo planes.@@@@1@8@@oe@2-2-2013
21850024@unknown@formal@none@1@S@Several airlines, including Lufthansa, JAL and Cathay Pacific Airways, are working on a so-called global cargo system and are trying to attract other carriers to join, Mr. Daly said.@@@@1@29@@oe@2-2-2013
21850025@unknown@formal@none@1@S@JAL also has signaled it is looking for toeholds in Europe before the end of 1992.@@@@1@16@@oe@2-2-2013
21850026@unknown@formal@none@1@S@Last month, the carrier said it wanted to lease crews and planes from British Airways so it could funnel its passengers from London to other European destinations.@@@@1@27@@oe@2-2-2013
21850027@unknown@formal@none@1@S@British Airways said it hasn't received a proposal from JAL.@@@@1@10@@oe@2-2-2013
21850028@unknown@formal@none@1@S@But last week there were air-traffic negotiations between the U.K. and Japan, a likely first step to any commercial agreement between JAL and British Airways or another U.K. carrier.@@@@1@29@@oe@2-2-2013
21851001@unknown@formal@none@1@S@Federal Paper Board Co. said it completed the previously announced purchase of Imperial Cup Corp., a closely held maker of paper cups based in Kenton, Ohio.@@@@1@26@@oe@2-2-2013
21851002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21851003@unknown@formal@none@1@S@Imperial Cup has annual sales of approximately $75 million.@@@@1@9@@oe@2-2-2013
21851004@unknown@formal@none@1@S@Federal Paper Board sells paper and wood products.@@@@1@8@@oe@2-2-2013
21852001@unknown@formal@none@1@S@In a move to prevent any dislocation in the financial markets from the California earthquake, the Securities and Exchange Commission said it temporarily reassigned options listed on the Pacific Stock Exchange to the American, New York and Philadelphia stock exchanges and to the Chicago Board Options Exchange.@@@@1@47@@oe@2-2-2013
21852002@unknown@formal@none@1@S@The decision, which affects millions of dollars of trading positions, was made late yesterday because the Pacific exchange's options floor was shut down as a result of Tuesday's earthquake.@@@@1@29@@oe@2-2-2013
21852003@unknown@formal@none@1@S@The SEC, faced with a major squeeze on options positions, said it was necessary to ensure that options listed on the exchange could be traded today and tomorrow.@@@@1@28@@oe@2-2-2013
21852004@unknown@formal@none@1@S@SEC Chairman Richard Breeden said the cooperation by the exchanges would enable investors to buy and sell options listed solely on the Pacific exchange, guaranteeing the liquidity of the market.@@@@1@30@@oe@2-2-2013
21852005@unknown@formal@none@1@S@Officials at the four exchanges said well over 50 traders from the Pacific exchange were taking flights from San Francisco late yesterday to the American, New York and Philadelphia exchanges and to the CBOE, where they would continue making markets in the Pacific-listed options.@@@@1@44@@oe@2-2-2013
21852006@unknown@formal@none@1@S@The Big Board said carpenters quickly erected a new options floor to accomodate 40 traders from the Pacific exchange.@@@@1@19@@oe@2-2-2013
21852007@unknown@formal@none@1@S@In addition, specialists on the exchanges agreed to provide backup capital for market-making in Pacific exchange options traded on the exchanges.@@@@1@21@@oe@2-2-2013
21852008@unknown@formal@none@1@S@Trading was light on the Pacific Stock Exchange yesterday, with workers at the exchange's main floor in San Francisco struggling to execute orders by flashlight as a result of a continuing power outage.@@@@1@33@@oe@2-2-2013
21852009@unknown@formal@none@1@S@The most pressing problem was the suspension of options trading.@@@@1@10@@oe@2-2-2013
21852010@unknown@formal@none@1@S@The Pacific exchange has options for 129 underlying stock issues, including highly active Hilton Hotels Corp., which is listed on the Big Board.@@@@1@23@@oe@2-2-2013
21852011@unknown@formal@none@1@S@Investors were concerned that they might be unable to exercise options that expire tomorrow.@@@@1@14@@oe@2-2-2013
21852012@unknown@formal@none@1@S@But professionals said throughout the day that the shutdown wouldn't be a cause for alarm even if it were to persist for several days.@@@@1@24@@oe@2-2-2013
21852013@unknown@formal@none@1@S@"I've told my staff and clients that they still have the ability to exercise their options, because they are guaranteed by the Options Clearing Corp.," said Michael Schwartz, a senior registered options strategist at Oppenheimer & Co.@@@@1@37@@oe@2-2-2013
21852014@unknown@formal@none@1@S@The SEC reassigned trading in the options, however, to allow investors to do more than simply exercise the options.@@@@1@19@@oe@2-2-2013
21852015@unknown@formal@none@1@S@While the exchange's equities floor in San Francisco remained open on a limited basis, orders were being routed and executed in Los Angeles.@@@@1@23@@oe@2-2-2013
21852016@unknown@formal@none@1@S@Workers could dial out, but they couldn't receive telephone calls.@@@@1@10@@oe@2-2-2013
21852017@unknown@formal@none@1@S@"It's a very uncertain situation right now," said Navin Vyas, administrative assistant of trading floor operations of the exchange, which has daily volume of about 10 million shares.@@@@1@28@@oe@2-2-2013
21852018@unknown@formal@none@1@S@Because the exchange's computer was rerouting orders to the exchange's trading operations in Los Angeles, "business is as usual" Mr. Vyas said.@@@@1@22@@oe@2-2-2013
21852019@unknown@formal@none@1@S@"If one city is down, the other can take over."@@@@1@10@@oe@2-2-2013
21852020@unknown@formal@none@1@S@Meanwhile, the brokerage firms in San Francisco were trying to cope.@@@@1@11@@oe@2-2-2013
21852021@unknown@formal@none@1@S@Charles Daggs, chairman and chief executive officer of Sutro & Co., said traders came to work at 5 a.m. PDT -- many on foot because of uncertain road and traffic conditions -- but learned that they would have to await a required inspection by the city in order to turn the power back on at the company's two main facilities there.@@@@1@61@@oe@2-2-2013
21852022@unknown@formal@none@1@S@That should happen by today, he said.@@@@1@7@@oe@2-2-2013
21852023@unknown@formal@none@1@S@Traders worked with the help of sunlight streaming through windows, despite large cracks in the walls and a lack of incoming phone calls.@@@@1@23@@oe@2-2-2013
21852024@unknown@formal@none@1@S@Also, most of the telecommunications equipment was out.@@@@1@8@@oe@2-2-2013
21852025@unknown@formal@none@1@S@The traders were executing municipal bond, mutual fund and other orders through a sister firm, Tucker Anthony Inc., which is also owned by John Hancock Freedom Securities but is based in New York.@@@@1@33@@oe@2-2-2013
21852026@unknown@formal@none@1@S@"We are having a regular day.@@@@1@6@@oe@2-2-2013
21852027@unknown@formal@none@1@S@Volume is down out of San Francisco, but not out of the 11 outlying offices," Mr. Daggs added.@@@@1@18@@oe@2-2-2013
21852028@unknown@formal@none@1@S@Sutro's Oakland office executed orders through the Sacramento office, which wasn't affected by the quake.@@@@1@15@@oe@2-2-2013
21852029@unknown@formal@none@1@S@Others, like Prudential-Bache Securities Inc., which has eight offices in the San Francisco area, set up an 800 number yesterday morning for customers to obtain market commentary and other help.@@@@1@30@@oe@2-2-2013
21852030@unknown@formal@none@1@S@At Kidder, Peabody & Co.'s Sacramento branch, Manager Janet White received calls yesterday morning from workers in San Francisco who offered to work in Sacramento.@@@@1@25@@oe@2-2-2013
21852031@unknown@formal@none@1@S@Then she discovered that Quotron Systems Inc.'s Sacramento lines were down, because they are normally tied in through a system that goes through San Francisco.@@@@1@25@@oe@2-2-2013
21852032@unknown@formal@none@1@S@So the Kidder brokers had to call other company offices to get quotes on stocks.@@@@1@15@@oe@2-2-2013
21852033@unknown@formal@none@1@S@At Quotron, the company's National Call-In Center, which swung into action for the first time last month for Hurricane Hugo, assembled a tactical team at 5 a.m. yesterday to begin rerouting lines and restore service to brokers and traders.@@@@1@39@@oe@2-2-2013
21852034@unknown@formal@none@1@S@The company dispatched as many as 200 people in the San Francisco area to do the work, though most of the rerouting was done by computer.@@@@1@26@@oe@2-2-2013
21852035@unknown@formal@none@1@S@Service appeared to be down throughout the financial district in downtown San Francisco, while just parts of Oakland and San Jose were knocked out.@@@@1@24@@oe@2-2-2013
21852036@unknown@formal@none@1@S@But Dale Irvine, director of the emergency center, said service was being restored to outlying San Francisco areas.@@@@1@18@@oe@2-2-2013
21852037@unknown@formal@none@1@S@In Chicago yesterday, Options Clearing confirmed that it guarantees the Pacific exchange options.@@@@1@13@@oe@2-2-2013
21852038@unknown@formal@none@1@S@The firm also will permit its members and the public "to exercise their put and call options contracts traded on the Pacific exchange" even if the exchange is closed, said Wayne Luthringshausen, chairman of Options Clearing.@@@@1@36@@oe@2-2-2013
21852039@unknown@formal@none@1@S@(Put options give holders the right, but not the obligation, to sell a financial instrument at a specified price, while call options give holders the right, but not the obligation, to buy a financial instrument at a specified price).@@@@1@39@@oe@2-2-2013
21852040@unknown@formal@none@1@S@Investors and traders in Pacific exchange options "are protected to the extent that they can convert their put and call options into the underlying instrument," Mr. Luthringshausen said.@@@@1@28@@oe@2-2-2013
21852041@unknown@formal@none@1@S@"We are seeing such exercises today, in fact.@@@@1@8@@oe@2-2-2013
21853001@unknown@formal@none@1@S@International Business Machines Corp. said its board approved the purchase of $1 billion of its common shares, a move that should help support its battered stock.@@@@1@26@@oe@2-2-2013
21853002@unknown@formal@none@1@S@Even as the stock market has generally done well this year, IBM's shares have slipped steadily from its 52-week high of $130.875.@@@@1@22@@oe@2-2-2013
21853003@unknown@formal@none@1@S@Yesterday's closing price of $101.75, down 50 cents, in composite trading on the New York Stock Exchange, puts the stock at about 1 1/2 times book value, which is as low as it has sunk over the past decade.@@@@1@39@@oe@2-2-2013
21853004@unknown@formal@none@1@S@The announcement came after the market's close.@@@@1@7@@oe@2-2-2013
21853005@unknown@formal@none@1@S@The move by IBM wasn't exactly a surprise.@@@@1@8@@oe@2-2-2013
21853006@unknown@formal@none@1@S@The company has spent some $5 billion over the past 3 1/2 years to buy back 42 million common shares, or roughly 7% of those outstanding.@@@@1@26@@oe@2-2-2013
21853007@unknown@formal@none@1@S@In addition, despite IBM's well-publicized recent problems, the computer giant still generates enormous amounts of cash.@@@@1@16@@oe@2-2-2013
21853008@unknown@formal@none@1@S@As of the end of the second quarter, it had $4.47 billion of cash and marketable securities on hand.@@@@1@19@@oe@2-2-2013
21853009@unknown@formal@none@1@S@As a result, some securities analysts had predicted in recent days that IBM would authorize additional purchases.@@@@1@17@@oe@2-2-2013
21853010@unknown@formal@none@1@S@In Armonk, N.Y., a spokesman said that although IBM didn't view its spending as necessarily a way to support the stock, it thought the purchases were a good way to improve such financial measurements as per-share earnings and return on equity.@@@@1@41@@oe@2-2-2013
21853011@unknown@formal@none@1@S@"We view it as a good long-term investment," the spokesman said.@@@@1@11@@oe@2-2-2013
21853012@unknown@formal@none@1@S@In the short term, the move is likely to have little effect.@@@@1@12@@oe@2-2-2013
21853013@unknown@formal@none@1@S@At yesterday's closing price, $1 billion would buy back about 10 million shares, or less than 2% of the roughly 580 million outstanding.@@@@1@23@@oe@2-2-2013
21853014@unknown@formal@none@1@S@In addition, as of Sept. 30, the company still had authorization to buy $368 million of stock under a prior repurchase program.@@@@1@22@@oe@2-2-2013
21853015@unknown@formal@none@1@S@Over the long term, however, IBM's stock repurchases -- along with its hefty, $4.84-a-share annual dividend and generally loyal following among large institutional investors -- are providing a floor for the stock price.@@@@1@33@@oe@2-2-2013
21853016@unknown@formal@none@1@S@Although IBM last year produced its first strong results in four years and was expected to continue to roll this year, it began faltering as early as January.@@@@1@28@@oe@2-2-2013
21853017@unknown@formal@none@1@S@First, it had trouble manufacturing a chip for its mainframes, IBM's bread-and-butter business.@@@@1@13@@oe@2-2-2013
21853018@unknown@formal@none@1@S@Then it had a series of smaller glitches, including problems manufacturing certain personal computers and the delay in the announcement of some important workstations.@@@@1@24@@oe@2-2-2013
21853019@unknown@formal@none@1@S@Finally, IBM had to delay the introduction of some high-end disk drives, which account for 10% of its $60 billion of annual revenue.@@@@1@23@@oe@2-2-2013
21853020@unknown@formal@none@1@S@None of the problems is necessarily fatal, and they aren't all necessarily even related.@@@@1@14@@oe@2-2-2013
21853021@unknown@formal@none@1@S@There are also other factors at work that are outside IBM's control, such as currency exchange rates.@@@@1@17@@oe@2-2-2013
21853022@unknown@formal@none@1@S@The strong dollar, which reduces the value of overseas earnings and revenue when they are translated into dollars, is expected to knock 80 to 85 cents off IBM's per-share earnings for the full year.@@@@1@34@@oe@2-2-2013
21853023@unknown@formal@none@1@S@Without that problem, IBM might have matched last year's earnings of $5.81 billion, or $9.80 a share.@@@@1@17@@oe@2-2-2013
21853024@unknown@formal@none@1@S@Still, investors will take some convincing before they get back into IBM's stock in a big way.@@@@1@17@@oe@2-2-2013
21853025@unknown@formal@none@1@S@Steve Milunovich, a securities analyst at First Boston, said that while investors were looking for an excuse to buy IBM shares a year ago, even the big institutional investors are looking for a reason to avoid the stock these days.@@@@1@40@@oe@2-2-2013
21854001@unknown@formal@none@1@S@On Wall Street yesterday, northern California's killer earthquake was just another chance to make a buck.@@@@1@16@@oe@2-2-2013
21854002@unknown@formal@none@1@S@At the opening bell, investors quickly began singling out shares of companies expected to profit or suffer in some way from the California disaster, including insurers, construction-related companies, refiners and housing lenders.@@@@1@32@@oe@2-2-2013
21854003@unknown@formal@none@1@S@Brokerage houses jumped in, touting "post-quake demand" stocks, and Kidder, Peabody & Co. set up a toll-free hot line for San Franciscans who might need emergency investment advice and help in transferring funds.@@@@1@33@@oe@2-2-2013
21854004@unknown@formal@none@1@S@"Wall Street thinks of everything in terms of money," says Tom Gallagher, a senior Oppenheimer & Co. trader.@@@@1@18@@oe@2-2-2013
21854005@unknown@formal@none@1@S@However, he added, such event-driven trading moves typically last only a few hours and are often made without full information.@@@@1@20@@oe@2-2-2013
21854006@unknown@formal@none@1@S@The most popular plays of the day were insurance companies such as General Re Corp., which rose $2.75 to $86.50, Nac Re Corp., up $2 to $37.75, American International Group Inc., up $3.25 to $102.625, and Cigna Corp., up 87.5 cents to $62.50.@@@@1@43@@oe@2-2-2013
21854007@unknown@formal@none@1@S@Yesterday, the brokerage firm Conning & Co. said insurers will use the earthquake as an excuse to raise insurance rates, ending their long price wars.@@@@1@25@@oe@2-2-2013
21854008@unknown@formal@none@1@S@Before this bullish theory surfaced, some insurance stocks initially fell, indicating that investors thought the quake might cost insurers a lot of money.@@@@1@23@@oe@2-2-2013
21854009@unknown@formal@none@1@S@In fact, Fireman's Fund Corp., which ended the day off 50 cents to $36.50, said earthquake damage would slightly hurt fourth-quarter profit.@@@@1@22@@oe@2-2-2013
21854010@unknown@formal@none@1@S@On the prospect for rebuilding northern California, investors bid up cement-makers Calmat Co., up $2.75 to $28.75, and Lone Star Industries Inc., up $1.75 to $29.25.@@@@1@26@@oe@2-2-2013
21854011@unknown@formal@none@1@S@Bridge and road builders had a field day, including Kasler Corp., up $2.125 to $9.875, Guy F. Atkinson Co., up 87.5 to $61.875, and Morrison Knudsen Corp., which reported higher third-quarter earnings yesterday, up $2.25 to $44.125.@@@@1@37@@oe@2-2-2013
21854012@unknown@formal@none@1@S@Fluor Corp., a construction engineering firm, gained 75 cents to $33.375.@@@@1@11@@oe@2-2-2013
21854013@unknown@formal@none@1@S@But home-building stocks were a mixed bag.@@@@1@7@@oe@2-2-2013
21854014@unknown@formal@none@1@S@Timber stocks got a big boost.@@@@1@6@@oe@2-2-2013
21854015@unknown@formal@none@1@S@Georgia Pacific Corp., up $1.25 to $58, and Maxxam Inc., up $3 to $43.75, both reported strong profits.@@@@1@18@@oe@2-2-2013
21854016@unknown@formal@none@1@S@Merrill Lynch & Co. touted Georgia-Pacific, Louisiana Pacific Corp. and Willamette Industries Inc. as the best post-quake plywood plays.@@@@1@19@@oe@2-2-2013
21854017@unknown@formal@none@1@S@Other gainers were companies with one or more undamaged California refineries.@@@@1@11@@oe@2-2-2013
21854018@unknown@formal@none@1@S@Tosco Corp. jumped $1.125 to $20.125 and Chevron Corp., despite a temporary pipeline shutdown, rose $1 to $65.@@@@1@18@@oe@2-2-2013
21854019@unknown@formal@none@1@S@Meanwhile, shares of some big housing lenders got hit, on the likelihood that the lenders' collateral -- people's homes -- suffered physical damage and perhaps a loss in value.@@@@1@29@@oe@2-2-2013
21854020@unknown@formal@none@1@S@Wells Fargo & Co. fell 50 cents to $81.50, and BankAmerica Corp. fell 50 cents to $31.875.@@@@1@17@@oe@2-2-2013
21854021@unknown@formal@none@1@S@Some California thrift stocks also fell, including Golden West Financial Corp. and H.F. Ahmanson & Co., which reported lower earnings yesterday.@@@@1@21@@oe@2-2-2013
21854022@unknown@formal@none@1@S@"Property values didn't go up in California yesterday," says one money manager.@@@@1@12@@oe@2-2-2013
21854023@unknown@formal@none@1@S@Pacific Gas & Electric Co. fell 37.5 cents to $19.625.@@@@1@10@@oe@2-2-2013
21854024@unknown@formal@none@1@S@One of its power generators was damaged, though the company said there won't be any financial impact.@@@@1@17@@oe@2-2-2013
21854025@unknown@formal@none@1@S@Pacific Telesis Group lost 62.5 cents to $44.625.@@@@1@8@@oe@2-2-2013
21854026@unknown@formal@none@1@S@A computer failure delayed its earnings announcement, and some investors think it might have extra costs to repair damaged telephone lines.@@@@1@21@@oe@2-2-2013
21854027@unknown@formal@none@1@S@Heavy construction, property-casualty insurance and forest products were among the best performing industry groups in the Dow Jones Equity Market Index yesterday.@@@@1@22@@oe@2-2-2013
21855001@unknown@formal@none@1@S@Friday's stock market plunge claimed its second victim among the scores of futures and options trading firms here.@@@@1@18@@oe@2-2-2013
21855002@unknown@formal@none@1@S@Petco Options, an options trading firm owned by the family of the deceased former Chicago Board of Trade chairman Ralph Peters, is getting out of the trade clearing, or processing and guaranteeing, business after sustaining a multimillion dollar loss Friday, options industry officials said.@@@@1@44@@oe@2-2-2013
21855003@unknown@formal@none@1@S@Nearly 75 options traders on the Chicago Board Options Exchange who cleared trades through Petco, including a handful of traders who lost between $500,000 to $1 million themselves as a result of Friday's debacle, are trying to transfer their business to other clearing firms, CBOE members said.@@@@1@47@@oe@2-2-2013
21855004@unknown@formal@none@1@S@Timothy Vincent, Petco chief executive officer, confirmed that Petco was withdrawing from the clearing business.@@@@1@15@@oe@2-2-2013
21855005@unknown@formal@none@1@S@"The owners of the company got a look at the potential risks in this business, and after Monday they felt they didn't want to be exposed any more," he said.@@@@1@30@@oe@2-2-2013
21855006@unknown@formal@none@1@S@He added that Petco remained in compliance with all industry capital requirements during the market's rapid plunge Friday and Monday's rebound.@@@@1@21@@oe@2-2-2013
21855007@unknown@formal@none@1@S@A CBOE spokeswoman declined comment on Petco.@@@@1@7@@oe@2-2-2013
21855008@unknown@formal@none@1@S@Over the weekend Fossett Corp., another options trading firm, transferred the clearing accounts of about 160 traders to First Options of Chicago, a unit of Continental Bank Corp., because it couldn't meet regulatory capital requirements after Friday's market slide.@@@@1@39@@oe@2-2-2013
21855009@unknown@formal@none@1@S@The unprecedented transfer of accounts underscored the options industry's desire not to have its credibility tarnished by potentially widespread trading defaults on Monday.@@@@1@23@@oe@2-2-2013
21855010@unknown@formal@none@1@S@The CBOE, American Stock Exchange, Options Clearing Corp. and Stephen Fossett, owner of Fossett, joined in putting up $50 million to guarantee the accounts at First Options.@@@@1@27@@oe@2-2-2013
21855011@unknown@formal@none@1@S@The head of another small options clearing firm, who asked not to be identified, said that the heightened volatility in the financial markets in recent years makes it increasingly difficult for any but the largest financial trading firms to shoulder the risk inherent in the highly leveraged options and futures business.@@@@1@51@@oe@2-2-2013
21855012@unknown@formal@none@1@S@Prior to the introduction of financial futures in the late 1970s, most trading firms clustered around the LaSalle Street financial district here were family operations handed down from one generation to the next.@@@@1@33@@oe@2-2-2013
21855013@unknown@formal@none@1@S@Most also were relatively undercapitalized compared with the size of most Wall Street securities firms.@@@@1@15@@oe@2-2-2013
21855014@unknown@formal@none@1@S@Mr. Peters, a LaSalle Street legend among the post-World War II generation of commodity traders, was rumored to have amassed a multimillion-dollar fortune from commodity trading and other activities by the time he died in May.@@@@1@36@@oe@2-2-2013
21856001@unknown@formal@none@1@S@Part of a Series}@@@@1@4@@oe@2-2-2013
21856002@unknown@formal@none@1@S@Betty Lombardi is a mild-mannered homemaker and grandmother in rural Hunterdon County, N.J.@@@@1@13@@oe@2-2-2013
21856003@unknown@formal@none@1@S@But put her behind a shopping cart and she turns ruthless.@@@@1@11@@oe@2-2-2013
21856004@unknown@formal@none@1@S@If Colgate toothpaste offers a tempting money-saving coupon, she'll cross Crest off her shopping list without a second thought.@@@@1@19@@oe@2-2-2013
21856005@unknown@formal@none@1@S@Never mind that her husband prefers Crest.@@@@1@7@@oe@2-2-2013
21856006@unknown@formal@none@1@S@Some weeks when her supermarket runs a double-coupon promotion, she boasts that she shaves $22 off her bill.@@@@1@18@@oe@2-2-2013
21856007@unknown@formal@none@1@S@Money isn't the only thing that makes her dump once favorite brands.@@@@1@12@@oe@2-2-2013
21856008@unknown@formal@none@1@S@After she heard about the artery-clogging hazards of tropical oils in many cookies, she dropped Pepperidge Farm and started buying brands free of such oils.@@@@1@25@@oe@2-2-2013
21856009@unknown@formal@none@1@S@"I always thought Pepperidge Farm was tasty and high quality," Mrs. Lombardi says.@@@@1@13@@oe@2-2-2013
21856010@unknown@formal@none@1@S@"But I don't want any of that oil for my grandkids."@@@@1@11@@oe@2-2-2013
21856011@unknown@formal@none@1@S@(Pepperidge Farm says it can't tell exactly how many customers it has lost, but it hopes to remove the objectionable tropical oil from all its products by year end.)@@@@1@29@@oe@2-2-2013
21856012@unknown@formal@none@1@S@Clearly, people like Mrs. Lombardi are giving marketers fits.@@@@1@9@@oe@2-2-2013
21856013@unknown@formal@none@1@S@She represents a new breed of savvy consumer who puts bargain prices, nutritional and environmental concerns, and other priorities ahead of old-fashioned brand loyalty.@@@@1@24@@oe@2-2-2013
21856014@unknown@formal@none@1@S@While brand loyalty is far from dead, marketing experts say it has eroded during the 1980s.@@@@1@16@@oe@2-2-2013
21856015@unknown@formal@none@1@S@Marketers themselves are partly to blame: They've increased spending for coupons and other short-term promotions at the expense of image-building advertising.@@@@1@21@@oe@2-2-2013
21856016@unknown@formal@none@1@S@What's more, a flood of new products has given consumers a dizzying choice of brands, many of which are virtually carbon copies of one other.@@@@1@25@@oe@2-2-2013
21856017@unknown@formal@none@1@S@"Marketers have brought this on themselves with their heavy use" of promotions, contends Joe Plummer, an executive vice president at the D'Arcy Masius Benton & Bowles ad agency.@@@@1@28@@oe@2-2-2013
21856018@unknown@formal@none@1@S@"Without some real product improvements, it's going to be difficult to win that loyalty back."@@@@1@15@@oe@2-2-2013
21856019@unknown@formal@none@1@S@The Wall Street Journal's "American Way of Buying" survey this year found that most consumers switch brands for many of the products they use.@@@@1@24@@oe@2-2-2013
21856020@unknown@formal@none@1@S@For the survey, Peter D. Hart Research Associates asked some 2,000 consumers, including Mrs. Lombardi, whether they usually buy one brand of a certain type of product or have no brand loyalty.@@@@1@32@@oe@2-2-2013
21856021@unknown@formal@none@1@S@More than half the users of 17 of the 25 products included in the survey said they're brand switchers.@@@@1@19@@oe@2-2-2013
21856022@unknown@formal@none@1@S@Overall, 12% of consumers aren't brand loyal for any of the 25 product categories.@@@@1@14@@oe@2-2-2013
21856023@unknown@formal@none@1@S@About 47% are loyal for one to five of the products.@@@@1@11@@oe@2-2-2013
21856024@unknown@formal@none@1@S@Only 2% are brand loyal in 16 to 20 of the categories, and no one is loyal for more than 20 types of products.@@@@1@24@@oe@2-2-2013
21856025@unknown@formal@none@1@S@For such products as canned vegetables and athletic shoes, devotion to a single brand was quite low, with fewer than 30% saying they usually buy the same brand.@@@@1@28@@oe@2-2-2013
21856026@unknown@formal@none@1@S@Only for cigarettes, mayonnaise and toothpaste did more than 60% of users say they typically stick with the same brand.@@@@1@20@@oe@2-2-2013
21856027@unknown@formal@none@1@S@People tend to be most loyal to brands that have distinctive flavors, such as cigarettes and ketchup.@@@@1@17@@oe@2-2-2013
21856028@unknown@formal@none@1@S@Kathie Huff, a respondent in the Journal survey from Spokane, Wash., says her husband is adamant about eating only Hunt's ketchup.@@@@1@21@@oe@2-2-2013
21856029@unknown@formal@none@1@S@He simply can't stomach the taste of Heinz, she says.@@@@1@10@@oe@2-2-2013
21856030@unknown@formal@none@1@S@The 31-year-old homemaker adds, "The only other thing I'm really loyal to is my Virginia Slims cigarettes.@@@@1@17@@oe@2-2-2013
21856031@unknown@formal@none@1@S@Coke and Pepsi are all the same to me, and I usually buy whichever brand of coffee happens to be on sale."@@@@1@22@@oe@2-2-2013
21856032@unknown@formal@none@1@S@Brand imagery plays a significant role in loyalty to such products as cigarettes, perfume and beer.@@@@1@16@@oe@2-2-2013
21856033@unknown@formal@none@1@S@People often stay with a particular brand because they want to be associated with the image its advertising conveys, whether that's macho Marlboro cigarettes or Cher's Uninhibited perfume.@@@@1@28@@oe@2-2-2013
21856034@unknown@formal@none@1@S@Loyalty lags most for utilitarian products like trash bags and batteries.@@@@1@11@@oe@2-2-2013
21856035@unknown@formal@none@1@S@Only 23% of trash-bag users in the Journal survey usually buy the same brand, and just 29% of battery buyers stick to one brand.@@@@1@24@@oe@2-2-2013
21856036@unknown@formal@none@1@S@Underwear scored a middling 36% in brand loyalty, but consumer researchers say that's actually quite high for such a mundane product.@@@@1@21@@oe@2-2-2013
21856037@unknown@formal@none@1@S@"In the past, you just wore Fruit of the Loom and didn't care," says Peter Kim, U.S. director of consumer behavior research for the J. Walter Thompson ad agency.@@@@1@29@@oe@2-2-2013
21856038@unknown@formal@none@1@S@"The high score reflects the attempts to make underwear more of a fashion image business for both men and women."@@@@1@20@@oe@2-2-2013
21856039@unknown@formal@none@1@S@He believes there's opportunity for a smart gasoline marketer to create a strong brand image and more consumer loyalty.@@@@1@19@@oe@2-2-2013
21856040@unknown@formal@none@1@S@What loyalty there is to gas brands, he believes, is a matter of stopping at the most conveniently located service stations.@@@@1@21@@oe@2-2-2013
21856041@unknown@formal@none@1@S@Brand loyalty was stronger among older consumers in the Journal survey.@@@@1@11@@oe@2-2-2013
21856042@unknown@formal@none@1@S@Nearly one-fourth of participants age 60 and older claim brand loyalty for more than 10 of the 25 products in the survey; only 9% of those age 18 to 29 have such strong allegiance.@@@@1@34@@oe@2-2-2013
21856043@unknown@formal@none@1@S@Higher-income people also tend to be more brand loyal these days, the Journal survey and other research studies indicate.@@@@1@19@@oe@2-2-2013
21856044@unknown@formal@none@1@S@Marketers speculate that more affluent people tend to lead more pressured lives and don't have time to research the products they buy for the highest quality and most reasonable price.@@@@1@30@@oe@2-2-2013
21856045@unknown@formal@none@1@S@An established brand name is insurance that at least the product will be of acceptable quality, if not always the best value for the money.@@@@1@25@@oe@2-2-2013
21856046@unknown@formal@none@1@S@It's sort of loyalty by default.@@@@1@6@@oe@2-2-2013
21856047@unknown@formal@none@1@S@Meanwhile, "the bottom end of the market is becoming less loyal," says Laurel Cutler, vice chairman of the ad agency FCB/Leber Katz Partners.@@@@1@23@@oe@2-2-2013
21856048@unknown@formal@none@1@S@"They're buying whatever's cheaper."@@@@1@4@@oe@2-2-2013
21856049@unknown@formal@none@1@S@The biggest wild card in the brand loyalty game: How those hotly pursued but highly unpredictable baby boomers will behave as they move into middle age.@@@@1@26@@oe@2-2-2013
21856050@unknown@formal@none@1@S@They grew up with more brand choices than any generation and have shown less allegiance so far.@@@@1@17@@oe@2-2-2013
21856051@unknown@formal@none@1@S@But now that they're settling down and raising families, might they also show more stability in their brand choices?@@@@1@19@@oe@2-2-2013
21856052@unknown@formal@none@1@S@Mr. Kim of J. Walter Thompson doesn't think so.@@@@1@9@@oe@2-2-2013
21856053@unknown@formal@none@1@S@He believes baby boomers will continue to be selective in their brand loyalties.@@@@1@13@@oe@2-2-2013
21856054@unknown@formal@none@1@S@"Earlier generations were brand loyal across categories," he says, "but boomers tend to be brand loyal in categories like running shoes and bottled water, but less so in others like toilet paper and appliances."@@@@1@34@@oe@2-2-2013
21856055@unknown@formal@none@1@S@While not as brand loyal as in the past, consumers today don't buy products capriciously, either.@@@@1@16@@oe@2-2-2013
21856056@unknown@formal@none@1@S@Rather, they tend to have a set of two or three favorites.@@@@1@12@@oe@2-2-2013
21856057@unknown@formal@none@1@S@Sometimes, they'll choose Ragu spaghetti sauce; other times, it will be Prego.@@@@1@12@@oe@2-2-2013
21856058@unknown@formal@none@1@S@Advertisers attribute this shared loyalty to the striking similarity among brands.@@@@1@11@@oe@2-2-2013
21856059@unknown@formal@none@1@S@If a more absorbent Pampers hits the market, you can be sure a new and improved Huggies won't be far behind.@@@@1@21@@oe@2-2-2013
21856060@unknown@formal@none@1@S@The BBDO Worldwide ad agency studied "brand parity" and found that consumers believe all brands are about the same in a number of categories, particularly credit cards, paper towels, dry soups and snack chips.@@@@1@34@@oe@2-2-2013
21856061@unknown@formal@none@1@S@"When there's a clutter of brands, consumers simplify the complexity by telling themselves, 'All brands are the same so what difference does it make which I buy,'" says Karen Olshan, a senior vice president at BBDO.@@@@1@36@@oe@2-2-2013
21856062@unknown@formal@none@1@S@"Too often, advertising imagery hasn't done a good job of forging a special emotional bond between a brand and the consumer."@@@@1@21@@oe@2-2-2013
21856063@unknown@formal@none@1@S@But given such strong brand disloyalty, some marketers are putting renewed emphasis on image advertising.@@@@1@15@@oe@2-2-2013
21856064@unknown@formal@none@1@S@A small but growing number of companies are also trying to instill more fervent brand loyalty through such personalized direct-marketing ploys as catalogs, magazines and membership clubs for brand users.@@@@1@30@@oe@2-2-2013
21856065@unknown@formal@none@1@S@While discount promotions are essential for most brands, some companies concede they went overboard in shifting money from advertising to coupons, refunds and other sales incentives.@@@@1@26@@oe@2-2-2013
21856066@unknown@formal@none@1@S@Some people argue that strong brands can afford to stop advertising for a time because of the residual impact of hundreds of millions of dollars spent on advertising through the years.@@@@1@31@@oe@2-2-2013
21856067@unknown@formal@none@1@S@But most companies are too afraid to take that chance.@@@@1@10@@oe@2-2-2013
21856068@unknown@formal@none@1@S@And perhaps with good reason.@@@@1@5@@oe@2-2-2013
21856069@unknown@formal@none@1@S@Says Clayt Wilhite, president of the D'Arcy Masius ad agency's U.S. division, "Every time 24 hours pass without any advertising reinforcement, brand loyalty will diminish ever so slightly -- even for a powerful brand like Budweiser."@@@@1@36@@oe@2-2-2013
21856070@unknown@formal@none@1@S@Consider, for example, what happened to Maxwell House coffee.@@@@1@9@@oe@2-2-2013
21856071@unknown@formal@none@1@S@The Kraft General Foods brand stopped advertising for about a year in 1987 and gave up several market share points and its leadership position in the coffee business.@@@@1@28@@oe@2-2-2013
21856072@unknown@formal@none@1@S@But since returning to advertising, Maxwell House has regained the lost share and is running neck and neck with archrival Folgers.@@@@1@21@@oe@2-2-2013
21856073@unknown@formal@none@1@S@"Now, Philip Morris {Kraft General Foods' parent company} is committed to the coffee business and to increased advertising for Maxwell House," says Dick Mayer, president of the General Foods USA division.@@@@1@31@@oe@2-2-2013
21856074@unknown@formal@none@1@S@"Even though brand loyalty is rather strong for coffee, we need advertising to maintain and strengthen it."@@@@1@17@@oe@2-2-2013
21856075@unknown@formal@none@1@S@Campbell Soup Co., for one, has concluded that it makes good sense to focus more on its most loyal customers than on people who buy competitive brands.@@@@1@27@@oe@2-2-2013
21856076@unknown@formal@none@1@S@"The probability of converting a non-user to your brand is about three in 1,000," says Tony Adams, the company's vice president for marketing research.@@@@1@24@@oe@2-2-2013
21856077@unknown@formal@none@1@S@"The best odds are with your core franchise.@@@@1@8@@oe@2-2-2013
21856078@unknown@formal@none@1@S@Our heavy users consume two to three cans of soup a week, and we'd like to increase that."@@@@1@18@@oe@2-2-2013
21856079@unknown@formal@none@1@S@So Campbell is talking to its "brand enthusiasts," probing their psychological attachment to its soup.@@@@1@15@@oe@2-2-2013
21856080@unknown@formal@none@1@S@In one consumer focus group, a fan declared that, "Campbell's soup is like getting a hug from a friend."@@@@1@19@@oe@2-2-2013
21856081@unknown@formal@none@1@S@That helped persuade the company to introduce a new advertising slogan: "A warm hug from Campbell's."@@@@1@16@@oe@2-2-2013
21857001@unknown@formal@none@1@S@Insurers face the prospect of paying out billions of dollars for damages caused by this week's California earthquake.@@@@1@18@@oe@2-2-2013
21857002@unknown@formal@none@1@S@Getting a grip on the extent of the damages is proving a far more difficult task than what insurers faced after Hurricane Hugo ripped through the Caribbean and the Carolinas last month.@@@@1@32@@oe@2-2-2013
21857003@unknown@formal@none@1@S@The earthquake's toll, including possible deep structural damage, goes far beyond the more easily observed damage from a hurricane, says George Reider, a vice president in Aetna Life & Casualty Insurance Co.'s claims division.@@@@1@34@@oe@2-2-2013
21857004@unknown@formal@none@1@S@But investors are betting that the financial and psychological impact of the earthquake, coming so soon after the hurricane, will help stem more than two years of intense price-cutting wars among business insurers.@@@@1@33@@oe@2-2-2013
21857005@unknown@formal@none@1@S@Reflecting that logic, insurance-company stocks posted strong gains.@@@@1@8@@oe@2-2-2013
21857006@unknown@formal@none@1@S@Aetna and other insurers are hiring engineers and architects to help them assess structural damage.@@@@1@15@@oe@2-2-2013
21857007@unknown@formal@none@1@S@Most insurers already have mobilized their "catastrophe" teams to begin processing claims from their policyholders in northern California.@@@@1@18@@oe@2-2-2013
21857008@unknown@formal@none@1@S@Since commercial air travel is interrupted, Aetna, based in Hartford, Conn., chartered three planes to fly claims adjusters into Sacramento and then planned for them to drive to the Bay area.@@@@1@31@@oe@2-2-2013
21857009@unknown@formal@none@1@S@About 25 adjusters were dispatched yesterday afternoon, along with laptop computers, cellular phones and blank checks.@@@@1@16@@oe@2-2-2013
21857010@unknown@formal@none@1@S@Some adjusters, already in other parts of California, drove to the disaster area with recreational vehicles and mobile homes that could be used as makeshift claims-processing centers.@@@@1@27@@oe@2-2-2013
21857011@unknown@formal@none@1@S@Insurers will be advertising 800 numbers -- probably on the radio -- that policyholders can call to get assistance on how to submit claims.@@@@1@24@@oe@2-2-2013
21857012@unknown@formal@none@1@S@State Farm Mutual Automobile Insurance Co., the largest home and auto insurer in California, believes the losses from the earthquake could be somewhat less than the $475 million in damages it expects to pay out for claims resulting from Hurricane Hugo.@@@@1@41@@oe@2-2-2013
21857013@unknown@formal@none@1@S@State Farm, based in Bloomington, Ind., is also the largest writer of personal-property earthquake insurance in California.@@@@1@17@@oe@2-2-2013
21857014@unknown@formal@none@1@S@Earthquake insurance is sold as a separate policy or a specific endorsement "rider" on a homeowner's policy in California, because of the area's vulnerability to earthquakes.@@@@1@26@@oe@2-2-2013
21857015@unknown@formal@none@1@S@State Farm said about 25% of its policyholders in California have also purchased earthquake insurance.@@@@1@15@@oe@2-2-2013
21857016@unknown@formal@none@1@S@Allstate Insurance Co., a unit of Sears, Roebuck & Co., said about 23% of its personal property policyholders -- about 28% in the San Franciso area -- also have earthquake coverage.@@@@1@31@@oe@2-2-2013
21857017@unknown@formal@none@1@S@The Association of California Insurance Companies estimated damage to residential property could total $500 million, but only $100 million to $150 million is insured, it said.@@@@1@26@@oe@2-2-2013
21857018@unknown@formal@none@1@S@Officials from the American Insurance Association's property-claim service division, which coordinates the efforts of the claims adjusters in an area after a natural disaster, will be flying to San Francisco today.@@@@1@31@@oe@2-2-2013
21857019@unknown@formal@none@1@S@They expect to have a preliminary estimate of the damages in a day or two.@@@@1@15@@oe@2-2-2013
21857020@unknown@formal@none@1@S@Roads and bridges in the Bay area appear to have suffered some of the most costly damage.@@@@1@17@@oe@2-2-2013
21857021@unknown@formal@none@1@S@Highways, such as the section of Interstate 880 that collapsed in Oakland, generally don't have insurance coverage.@@@@1@17@@oe@2-2-2013
21857022@unknown@formal@none@1@S@Industry officials say the Bay Bridge -- unlike some bridges -- has no earthquake coverage, either, so the cost of repairing it probably would have to be paid out of state general operating funds.@@@@1@34@@oe@2-2-2013
21857023@unknown@formal@none@1@S@However, the bridge, which charges a $1 toll each way, does have "loss of income" insurance to replace lost revenue if the operation of the bridge is interrupted for more than seven days.@@@@1@33@@oe@2-2-2013
21857024@unknown@formal@none@1@S@That coverage is provided by a syndicate of insurance companies including Fireman's Fund Corp., based in Novato, Calif., and Cigna Corp., based in Philadelphia.@@@@1@24@@oe@2-2-2013
21857025@unknown@formal@none@1@S@Earthquake-related claims aren't expected to cause significant financial problems for the insurance industry as a whole.@@@@1@16@@oe@2-2-2013
21857026@unknown@formal@none@1@S@Instead, even with the liabilities of two natural disasters in recent weeks, analysts said the total capital of the industry is likely to be higher at year end than it was at midyear.@@@@1@33@@oe@2-2-2013
21857027@unknown@formal@none@1@S@Indeed, the earthquake could contribute to a turnaround in the insurance cycle in a couple of ways.@@@@1@17@@oe@2-2-2013
21857028@unknown@formal@none@1@S@For example, insurers may seek to limit their future exposure to catastrophes by increasing the amount of reinsurance they buy.@@@@1@20@@oe@2-2-2013
21857029@unknown@formal@none@1@S@Such increased demand for reinsurance, along with the losses the reinsurers will bear from these two disasters, are likely to spur increases in reinsurance prices that will later be translated into an overall price rise.@@@@1@35@@oe@2-2-2013
21857030@unknown@formal@none@1@S@Reinsurance is protection taken out by the insurance firms themselves.@@@@1@10@@oe@2-2-2013
21857031@unknown@formal@none@1@S@"We are saying this is the breaking point, this is the event that will change the psychology of the marketplace," said William Yankus, an analyst with Conning & Co., a Hartford firm that specializes in the insurance industry.@@@@1@38@@oe@2-2-2013
21857032@unknown@formal@none@1@S@His firm, along with some others, issued new buy recommendations on insurer stocks yesterday.@@@@1@14@@oe@2-2-2013
21857033@unknown@formal@none@1@S@Among the insurance stocks, big gainers included American International Group, up $3.25 to $102.625; General Re Corp., up $2.75 to $86.50; Aetna, up $2.375 to $59.50; and Marsh & McLennan Inc., up $3.125 to $75.875.@@@@1@35@@oe@2-2-2013
21857034@unknown@formal@none@1@S@Still, a few individual companies, most likely smaller ones, could be devastated.@@@@1@12@@oe@2-2-2013
21857035@unknown@formal@none@1@S@"I think there is a damned good chance someone is going to hit the skids on this," said Oppenheimer & Co. analyst Myron Picoult.@@@@1@24@@oe@2-2-2013
21857036@unknown@formal@none@1@S@He suspects some insurers who had purchased reinsurance to limit their exposure to catastrophes will discover that reinsurance was used up by Hurricane Hugo.@@@@1@24@@oe@2-2-2013
21857037@unknown@formal@none@1@S@British, West German, Scandinavian and other overseas insurers are bracing for big claims from the San Francisco earthquake disaster.@@@@1@19@@oe@2-2-2013
21857038@unknown@formal@none@1@S@Although it's unclear how much exposure the London market will face, U.K. underwriters traditionally have a large reinsurance exposure to U.S. catastrophe coverage.@@@@1@23@@oe@2-2-2013
21857039@unknown@formal@none@1@S@Jack Byrne, chairman of Fireman's Fund, said this disaster will test the catastrophe reinsurance market, causing these rates to soar.@@@@1@20@@oe@2-2-2013
21857040@unknown@formal@none@1@S@The catastrophe losses sustained by insurers this year will probably be the worst on an inflation-adjusted basis since 1906 -- when another earthquake sparked the Great San Francisco Fire.@@@@1@29@@oe@2-2-2013
21857041@unknown@formal@none@1@S@Orin Kramer, an insurance consultant in New York, estimates that the 1906 San Francisco destruction, on an inflation-adjusted basis, included insured losses of $5.8 billion.@@@@1@25@@oe@2-2-2013
21857042@unknown@formal@none@1@S@He is estimating this week's disaster will generate insured losses of $2 billion to $4 billion, following about $4 billion in costs to insurers from Hurricane Hugo.@@@@1@27@@oe@2-2-2013
21858001@unknown@formal@none@1@S@Silicon Graphics Inc.'s first-quarter profit rose sharply to $5.2 million, or 28 cents a share, from $1 million, or six cents a share, a year ago.@@@@1@26@@oe@2-2-2013
21858002@unknown@formal@none@1@S@The maker of computer workstations said a surge of government orders contributed to the increase.@@@@1@15@@oe@2-2-2013
21858003@unknown@formal@none@1@S@Revenue rose 95% to $86.4 million from $44.3 million the year earlier.@@@@1@12@@oe@2-2-2013
21858004@unknown@formal@none@1@S@In national over-the-counter trading, the company closed yesterday at $23.25 a share, down 25 cents.@@@@1@15@@oe@2-2-2013
21859001@unknown@formal@none@1@S@Hunter Environmental Services Inc. said it reached a preliminary accord on the sale of its environmental consulting and services business for about $40 million and assumption of related debt.@@@@1@29@@oe@2-2-2013
21859002@unknown@formal@none@1@S@The buyer wasn't identified.@@@@1@4@@oe@2-2-2013
21859003@unknown@formal@none@1@S@The company said it also is making progress in negotiating the buy-out of its design division by management.@@@@1@18@@oe@2-2-2013
21859004@unknown@formal@none@1@S@In addition, Hunter said it will use proceeds from a private placement of $8 million of preferred shares to purchase an interest in a start-up company to underwrite environmental impairment insurance.@@@@1@31@@oe@2-2-2013
21859005@unknown@formal@none@1@S@Hunter wants to concentrate its resources on the insurance business and on a project to store hazardous wastes in salt domes.@@@@1@21@@oe@2-2-2013
21860001@unknown@formal@none@1@S@Jaguar PLC's chairman said he hopes to reach a friendly pact with General Motors Corp. within a month that may involve the British luxury-car maker's producing a cheaper executive model.@@@@1@30@@oe@2-2-2013
21860002@unknown@formal@none@1@S@Sir John Egan told reporters at London's Motorfair yesterday he "would be disappointed if we couldn't do {the deal} within a month."@@@@1@22@@oe@2-2-2013
21860003@unknown@formal@none@1@S@He said the tie-up would mean Jaguar could "develop cars down range {in price} from where we are" by offering access to GM's high-volume parts production.@@@@1@26@@oe@2-2-2013
21860004@unknown@formal@none@1@S@Besides creating joint manufacturing ventures, the accord is expected to give GM about a 15% stake that eventually would rise to about 30%.@@@@1@23@@oe@2-2-2013
21860005@unknown@formal@none@1@S@Jaguar figures a friendly alliance with GM will fend off unwelcome advances from Ford Motor Co.@@@@1@16@@oe@2-2-2013
21860006@unknown@formal@none@1@S@But Ford, Jaguar's biggest shareholder since lifting its stake to 10.4% this week, is pressing harder for talks with Sir John.@@@@1@21@@oe@2-2-2013
21860007@unknown@formal@none@1@S@"We're getting to the point where we are going to have to meet" with him, one Ford official said yesterday.@@@@1@20@@oe@2-2-2013
21860008@unknown@formal@none@1@S@Ford probably will renew its request for such a meeting soon, he added.@@@@1@13@@oe@2-2-2013
21860009@unknown@formal@none@1@S@Sir John has spurned Ford's advances since the U.S. auto giant launched a surprise bid for as much as 15% of Jaguar last month.@@@@1@24@@oe@2-2-2013
21860010@unknown@formal@none@1@S@Ford has signaled it might acquire a majority interest later.@@@@1@10@@oe@2-2-2013
21860011@unknown@formal@none@1@S@"I'm not obligated to sit down and talk to anybody," the Jaguar chairman asserted yesterday.@@@@1@15@@oe@2-2-2013
21860012@unknown@formal@none@1@S@He didn't rule out negotiations with Ford, however.@@@@1@8@@oe@2-2-2013
21860013@unknown@formal@none@1@S@The fiercely proud but financially strapped British company prefers to remain independent and publicly held, despite Ford's promise of access to cash and technological know-how.@@@@1@25@@oe@2-2-2013
21860014@unknown@formal@none@1@S@Sir John noted that GM, a longtime Jaguar supplier, agrees "we should remain an independent company."@@@@1@16@@oe@2-2-2013
21860015@unknown@formal@none@1@S@He said Jaguar started negotiating with GM and several other car makers over a year ago, but the rest "dropped by the wayside ever since the share price went above #4 ($6.30) a share."@@@@1@34@@oe@2-2-2013
21860016@unknown@formal@none@1@S@Jaguar shares stood at 405 pence before Ford's initial announcement, but the subsequent takeover frenzy has driven them up.@@@@1@19@@oe@2-2-2013
21860017@unknown@formal@none@1@S@The stock traded late yesterday on London's stock exchange at 673 pence, up 19 pence.@@@@1@15@@oe@2-2-2013
21860018@unknown@formal@none@1@S@Developing an executive-model range would mark a major departure for Britain's leading luxury-car maker.@@@@1@14@@oe@2-2-2013
21860019@unknown@formal@none@1@S@A typical British executive car is mass produced and smaller than a luxury car.@@@@1@14@@oe@2-2-2013
21860020@unknown@formal@none@1@S@It generally fetches no more than #25,000 ($39,400) -- roughly #16,000 less than the highest-priced Jaguars, which are all known for their hand-crafted leather work.@@@@1@25@@oe@2-2-2013
21860021@unknown@formal@none@1@S@"We have designs for such {executive} cars, but have never been able to develop them," Sir John said.@@@@1@18@@oe@2-2-2013
21860022@unknown@formal@none@1@S@GM's help would "make it possible {for Jaguar} to build a wider range of cars."@@@@1@15@@oe@2-2-2013
21860023@unknown@formal@none@1@S@An executive model would significantly boost Jaguar's yearly output of 50,000 cars.@@@@1@12@@oe@2-2-2013
21860024@unknown@formal@none@1@S@"You are talking about a couple hundred thousand a year," said Bob Barber, an auto-industry analyst at U.K. brokerage James Capel & Co.@@@@1@23@@oe@2-2-2013
21860025@unknown@formal@none@1@S@A pact with GM may emerge in as little as two weeks, according to sources close to the talks.@@@@1@19@@oe@2-2-2013
21860026@unknown@formal@none@1@S@The deal would require approval by a majority of Jaguar shareholders.@@@@1@11@@oe@2-2-2013
21860027@unknown@formal@none@1@S@"We have to make it attractive enough that {holders} would accept it," Sir John said.@@@@1@15@@oe@2-2-2013
21860028@unknown@formal@none@1@S@That may be difficult, the Jaguar chairman acknowledged, "when you have somebody else breathing down your neck.@@@@1@17@@oe@2-2-2013
21860029@unknown@formal@none@1@S@" Ford probably would try to kill the proposal by enlisting support from U.S. takeover-stock speculators and holding out the carrot of a larger bid later, said Stephen Reitman, European auto analyst at London brokers UBS Phillips & Drew.@@@@1@39@@oe@2-2-2013
21860030@unknown@formal@none@1@S@Ford can't make a full-fledged bid for Jaguar until U.K. government restrictions expire.@@@@1@13@@oe@2-2-2013
21860031@unknown@formal@none@1@S@The anti-takeover measure prevents any outside investor from buying more than 15% of Jaguar shares without permission until Dec. 31, 1990.@@@@1@21@@oe@2-2-2013
21860032@unknown@formal@none@1@S@But with its 10.4% stake, Ford can convene a special Jaguar shareholders' meeting and urge them to drop the restrictions prematurely.@@@@1@21@@oe@2-2-2013
21860033@unknown@formal@none@1@S@"It's a very valuable weapon in their armory," which could enable Ford to bid sooner for Jaguar, observed Mr. Barber of James Capel.@@@@1@23@@oe@2-2-2013
21860034@unknown@formal@none@1@S@Otherwise, Jaguar may have to tolerate the two U.S. auto giants each owning a 15% stake for more than a year.@@@@1@21@@oe@2-2-2013
21860035@unknown@formal@none@1@S@"It would be difficult to see how a car company can be owned by a collective," Sir John said.@@@@1@19@@oe@2-2-2013
21860036@unknown@formal@none@1@S@"It has never been done before, but there's always a first.@@@@1@11@@oe@2-2-2013
21861001@unknown@formal@none@1@S@Although two Baby Bells showed strong growth in access lines, usage and unregulated business revenue, one reported a modest gain in third-quarter net while the other posted a small drop.@@@@1@30@@oe@2-2-2013
21861002@unknown@formal@none@1@S@Ameritech Corp.'s earnings increased 2.8%, after strong revenue gains were offset somewhat by refunds and rate reductions imposed by regulators in its Midwest territory.@@@@1@24@@oe@2-2-2013
21861003@unknown@formal@none@1@S@BellSouth Corp.'s third-quarter earnings dropped 3.8% as a result of debt refinancing, the recent acquisition of a cellular and paging property and rate reductions in its Southeast territory.@@@@1@28@@oe@2-2-2013
21861004@unknown@formal@none@1@S@BellSouth@@@@1@1@@oe@2-2-2013
21861005@unknown@formal@none@1@S@At BellSouth, based in Atlanta, customer access lines grew by 162,000, or 3.5%, during the 12-month period ended Sept.@@@@1@19@@oe@2-2-2013
21861006@unknown@formal@none@1@S@For the third quarter, total operating revenue grew 2.6% to $3.55 billion from $3.46 billion.@@@@1@15@@oe@2-2-2013
21861007@unknown@formal@none@1@S@Total operating expenses increased 3.5% to $2.78 billion from $2.69 billion.@@@@1@11@@oe@2-2-2013
21861008@unknown@formal@none@1@S@Overall access minutes of use increased 10.3% and toll messages jumped 5.2%.@@@@1@12@@oe@2-2-2013
21861009@unknown@formal@none@1@S@BellSouth Chairman and Chief Executive Officer John L. Clendenin said three factors accounted for the drop in third-quarter earnings.@@@@1@19@@oe@2-2-2013
21861010@unknown@formal@none@1@S@The refinancing of $481 million in long-term debt reduced net income by $22 million, or five cents a share, but in the long run will save more than $250 million in interest costs.@@@@1@33@@oe@2-2-2013
21861011@unknown@formal@none@1@S@The company previously said that the recent acquisition of Mobile Communications Corp. of America would dilute 1989 earnings by about 3%.@@@@1@21@@oe@2-2-2013
21861012@unknown@formal@none@1@S@In addition, earnings were reduced by rate reductions in Florida, Kentucky, Alabama, Tennessee and Louisiana.@@@@1@15@@oe@2-2-2013
21861013@unknown@formal@none@1@S@Ameritech@@@@1@1@@oe@2-2-2013
21861014@unknown@formal@none@1@S@At Ameritech, based in Chicago, customer access lines increased by 402,000, or 2.6%, and cellular mobile lines increased by 80,000, or 62.3%, for the 12-month period ended Sept. 30.@@@@1@29@@oe@2-2-2013
21861015@unknown@formal@none@1@S@For the third quarter, revenue increased 1.9% to $2.55 billion from $2.51 billion.@@@@1@13@@oe@2-2-2013
21861016@unknown@formal@none@1@S@Operating expenses increased 2.6% to $2.04 billion, including one-time pretax charges of $40 million for labor contract signing bonuses.@@@@1@19@@oe@2-2-2013
21861017@unknown@formal@none@1@S@Local service revenue increased 3.5% and directory and unregulated business revenue jumped 9.5%.@@@@1@13@@oe@2-2-2013
21861018@unknown@formal@none@1@S@But network access revenue dropped 4% and toll revenue dropped 1.4%.@@@@1@11@@oe@2-2-2013
21861019@unknown@formal@none@1@S@a-reflects 2-for-1 stock split effective Dec. 30, 1988.@@@@1@8@@oe@2-2-2013
21861020@unknown@formal@none@1@S@b-reflects extraordinary loss of five cents a share for early debt retirement.@@@@1@12@@oe@2-2-2013
21861021@unknown@formal@none@1@S@c-reflects extraordinary loss of five cents a share and extraordinary gain of 14 cents a share from cumulative effect of accounting change.@@@@1@22@@oe@2-2-2013
21862001@unknown@formal@none@1@S@The Wall Street Journal "American Way of Buying" Survey consists of two separate, door-to-door nationwide polls conducted for the Journal by Peter D. Hart Research Associates and the Roper Organization.@@@@1@30@@oe@2-2-2013
21862002@unknown@formal@none@1@S@The two surveys, which asked different questions, were conducted using national random probability samples.@@@@1@14@@oe@2-2-2013
21862003@unknown@formal@none@1@S@The poll conducted by Peter D. Hart Research Associates interviewed 2,064 adults age 18 and older from June 15 to June 30, 1989.@@@@1@23@@oe@2-2-2013
21862004@unknown@formal@none@1@S@The poll conducted by the Roper Organization interviewed 2,002 adults age 18 and older from July 7 to July 15, 1989.@@@@1@21@@oe@2-2-2013
21862005@unknown@formal@none@1@S@Responses were weighted on the basis of age and gender to conform with U.S. Census data.@@@@1@16@@oe@2-2-2013
21862006@unknown@formal@none@1@S@For each poll, the odds are 19 out of 20 that if pollsters had sought to survey every household in the U.S. using the same questionnaire, the findings would differ from these poll results by no more than 2 1/2 percentage points in either direction.@@@@1@45@@oe@2-2-2013
21862007@unknown@formal@none@1@S@The margin of error for subgroups -- for example, married women with children at home -- would be larger.@@@@1@19@@oe@2-2-2013
21862008@unknown@formal@none@1@S@In addition, in any survey, there is always the chance that other factors such as question wording could introduce errors into the findings.@@@@1@23@@oe@2-2-2013
21863001@unknown@formal@none@1@S@Program traders were buying and selling at full steam Monday, the first trading session after the stock market's 190.58-point plunge Friday.@@@@1@21@@oe@2-2-2013
21863002@unknown@formal@none@1@S@They accounted for a hefty 16% of New York Stock Exchange volume Monday, the fourth busiest session ever.@@@@1@18@@oe@2-2-2013
21863003@unknown@formal@none@1@S@On Friday, 13% of volume was in computer-guided program trades.@@@@1@10@@oe@2-2-2013
21863004@unknown@formal@none@1@S@In August, by contrast, program trading averaged 10.3% of daily Big Board turnover.@@@@1@13@@oe@2-2-2013
21863005@unknown@formal@none@1@S@Program traders were publicly castigated following the 508-point crash Oct. 19, 1987, and a number of brokerage firms pulled back from using this strategy for a while.@@@@1@27@@oe@2-2-2013
21863006@unknown@formal@none@1@S@But as the outcry faded by the spring of 1988, they resumed.@@@@1@12@@oe@2-2-2013
21863007@unknown@formal@none@1@S@Some observers thought that after Friday's sharp drop, the firms would rein in their program traders to avoid stoking more controversy.@@@@1@21@@oe@2-2-2013
21863008@unknown@formal@none@1@S@But the statistics released yesterday show the firms did nothing of the sort.@@@@1@13@@oe@2-2-2013
21863009@unknown@formal@none@1@S@One reason, they said, was that the official reports on the 1987 crash exonerated program trading as a cause.@@@@1@19@@oe@2-2-2013
21863010@unknown@formal@none@1@S@Stock-index arbitrage is the most controversial form of program trading because it accelerates market moves, if not actually causing them.@@@@1@20@@oe@2-2-2013
21863011@unknown@formal@none@1@S@In it, traders buy or sell stocks and offset those positions in stock-index futures contracts to profit from fleeting price discrepancies.@@@@1@21@@oe@2-2-2013
21863012@unknown@formal@none@1@S@Under the exchange's definitions, program trading also describes a number of other strategies that, in the opinion of some traders, don't cause big swings in the market.@@@@1@27@@oe@2-2-2013
21863013@unknown@formal@none@1@S@The Big Board's disclosure of program trading activity on these two days was unusual.@@@@1@14@@oe@2-2-2013
21863014@unknown@formal@none@1@S@Though it collects such data daily, its monthly reports on program trading usually come out about three weeks after each month ends.@@@@1@22@@oe@2-2-2013
21863015@unknown@formal@none@1@S@The September figures are due to be released this week.@@@@1@10@@oe@2-2-2013
21863016@unknown@formal@none@1@S@The Big Board declined to name the Wall Street firms involved in the activity Friday and Monday, or the type of strategies used.@@@@1@23@@oe@2-2-2013
21863017@unknown@formal@none@1@S@But traders on the exchange floor, who can observe the computer-guided trading activity on monitor screens, said most of the top program-trading firms were active both days.@@@@1@27@@oe@2-2-2013
21863018@unknown@formal@none@1@S@Through August, the top five program trading firms in volume were Morgan Stanley & Co., Kidder, Peabody & Co., Merrill Lynch & Co., PaineWebber Group Inc. and Salomon Brothers Inc.@@@@1@30@@oe@2-2-2013
21863019@unknown@formal@none@1@S@Though brokerage officials defended their use of program trading, one sign of what an issue it remains was that few executives would comment on the record.@@@@1@26@@oe@2-2-2013
21863020@unknown@formal@none@1@S@Besides reciting the pardon for program trading contained in the Brady Commission report, they said stock-index arbitrage was actually needed Monday to restore the markets' equilibrium.@@@@1@26@@oe@2-2-2013
21863021@unknown@formal@none@1@S@On Friday, the stock-index futures market was unhinged from the stock market when the Chicago Mercantile Exchange halted trading in Standard & Poor's 500 futures contract -- a "circuit breaker" procedure instituted after the 1987 crash and implemented for the first time.@@@@1@42@@oe@2-2-2013
21863022@unknown@formal@none@1@S@Futures trading resumed a half-hour later, but the session ended shortly thereafter, leaving the stock market set up for more sell programs, traders said.@@@@1@24@@oe@2-2-2013
21863023@unknown@formal@none@1@S@By Monday morning, they said, stock-index arbitrage sell programs helped re-establish the link between stocks and futures.@@@@1@17@@oe@2-2-2013
21863024@unknown@formal@none@1@S@But stunning volatility was produced in the process.@@@@1@8@@oe@2-2-2013
21863025@unknown@formal@none@1@S@The Dow Jones Industrial Average plunged a breathtaking 63.52 points in the first 40 minutes of trading Monday as stock-index arbitrage sell programs kicked in.@@@@1@25@@oe@2-2-2013
21863026@unknown@formal@none@1@S@At about 10:10 a.m. EDT, the market abruptly turned upward on stock-index arbitrage buy programs.@@@@1@15@@oe@2-2-2013
21863027@unknown@formal@none@1@S@By day's end, the Dow industrials had rebounded 88.12 points, or nearly half of Friday's drop.@@@@1@16@@oe@2-2-2013
21864001@unknown@formal@none@1@S@FREDERICK'S OF HOLLYWOOD Inc., Los Angeles, said its board voted a 50% increase in the specialty boutique-store operator's semiannual dividend, to five cents a common share.@@@@1@26@@oe@2-2-2013
21864002@unknown@formal@none@1@S@The dividend is payable Dec. 15 to stock of record Nov. 15.@@@@1@12@@oe@2-2-2013
21865001@unknown@formal@none@1@S@Valley National Corp. reported a third-quarter net loss of $72.2 million, or $3.65 a share, and suspended its quarterly dividend because of potential losses on its Arizona real estate holdings.@@@@1@30@@oe@2-2-2013
21865002@unknown@formal@none@1@S@The Phoenix-based holding company for Arizona's largest bank said it added $121 million to its allowance for losses on loans and for real estate owned.@@@@1@25@@oe@2-2-2013
21865003@unknown@formal@none@1@S@The company earned $18.7 million, or 95 cents a share, a year earlier.@@@@1@13@@oe@2-2-2013
21865004@unknown@formal@none@1@S@For the nine months, Valley National posted a net loss of $136.4 million, or $6.90 a share.@@@@1@17@@oe@2-2-2013
21865005@unknown@formal@none@1@S@It had profit of $48.6 million, or $2.46 a share, in the 1988 period.@@@@1@14@@oe@2-2-2013
21865006@unknown@formal@none@1@S@Valley National had been paying a quarterly dividend of 36 cents a share.@@@@1@13@@oe@2-2-2013
21865007@unknown@formal@none@1@S@"The Arizona real estate market continues to be depressed, and there is still uncertainty as to when values will recover," James P. Simmons, chairman, said.@@@@1@25@@oe@2-2-2013
21865008@unknown@formal@none@1@S@The decision to increase the loan-loss reserve and suspend the dividend is "both prudent and in the best long-term interest of the shareholders," he said.@@@@1@25@@oe@2-2-2013
21865009@unknown@formal@none@1@S@Valley National said it made the decision on the basis of an "overall assessment of the marketplace" and the condition of its loan portfolio and after reviewing it with federal regulators.@@@@1@31@@oe@2-2-2013
21865010@unknown@formal@none@1@S@The addition to reserves comes on top of a provision of $199.7 million that was announced in June.@@@@1@18@@oe@2-2-2013
21865011@unknown@formal@none@1@S@In July, Moody's downgraded $400 million of the company's debt, saying the bank holding company hadn't taken adequate write-offs against potential losses on real estate loans despite its second-quarter write-down.@@@@1@30@@oe@2-2-2013
21865012@unknown@formal@none@1@S@Richard M. Greenwood, Valley National's executive vice president, said then that the company believed the write-downs were "adequate" and didn't plan to increase its reserves again.@@@@1@26@@oe@2-2-2013
21865013@unknown@formal@none@1@S@Bruce Hoyt, a banking analyst with Boettcher & Co., a Denver brokerage firm, said Valley National "isn't out of the woods yet."@@@@1@22@@oe@2-2-2013
21865014@unknown@formal@none@1@S@The key will be whether Arizona real estate turns around or at least stabilizes, he said.@@@@1@16@@oe@2-2-2013
21865015@unknown@formal@none@1@S@"They've stepped up to the plate to take the write-downs, but when markets head down, a company is always exposed to further negative surprises," Mr. Hoyt said.@@@@1@27@@oe@2-2-2013
21865016@unknown@formal@none@1@S@Valley National closed yesterday at $24.25 a share, down $1, in national over-the-counter trading.@@@@1@14@@oe@2-2-2013
21866001@unknown@formal@none@1@S@Two years of coddling, down the drain.@@@@1@7@@oe@2-2-2013
21866002@unknown@formal@none@1@S@That's the way a lot of brokers feel today on the second anniversary of the 1987 stock-market crash.@@@@1@18@@oe@2-2-2013
21866003@unknown@formal@none@1@S@Ever since that fearful Black Monday, they've been tirelessly wooing wary individual investors -- trying to convince them that Oct. 19, 1987, was a fluke and that the stock market really is a safe place for average Americans to put their hard-earned dollars.@@@@1@43@@oe@2-2-2013
21866004@unknown@formal@none@1@S@And until last Friday, it seemed those efforts were starting to pay off.@@@@1@13@@oe@2-2-2013
21866005@unknown@formal@none@1@S@"Some of those folks were coming back," says Leslie Quick Jr., chairman, of discount brokers Quick & Reilly Group Inc.@@@@1@20@@oe@2-2-2013
21866006@unknown@formal@none@1@S@"We had heard from people who hadn't been active" for a long time.@@@@1@13@@oe@2-2-2013
21866007@unknown@formal@none@1@S@Then came the frightening 190-point plunge in the Dow Jones Industrial Average and a new wave of stock-market volatility.@@@@1@19@@oe@2-2-2013
21866008@unknown@formal@none@1@S@All of a sudden, it was back to square one.@@@@1@10@@oe@2-2-2013
21866009@unknown@formal@none@1@S@"It's going to set things back for a period, because it reinforces the concern of volatility," says Jeffrey B. Lane, president of Shearson Lehman Hutton Inc.@@@@1@26@@oe@2-2-2013
21866010@unknown@formal@none@1@S@"I think it will shake confidence one more time, and a lot of this business is based on client confidence."@@@@1@20@@oe@2-2-2013
21866011@unknown@formal@none@1@S@Brokers around the country say the reaction from individual investors this week has been almost eerie.@@@@1@16@@oe@2-2-2013
21866012@unknown@formal@none@1@S@Customers and potential customers are suddenly complaining about the stock market in the exact way they did in post-crash 1987.@@@@1@20@@oe@2-2-2013
21866013@unknown@formal@none@1@S@"The kinds of questions you had before have resurfaced," says Raymond A. "Chip" Mason, chairman of regional brokerage firm Legg Mason Inc., Baltimore.@@@@1@23@@oe@2-2-2013
21866014@unknown@formal@none@1@S@"I can just tell the questions are right back where they were: `What's going on?,' `Can't anything be done about program trading?,' `Doesn't the exchange understand?,' `Where is the SEC on this?'"@@@@1@32@@oe@2-2-2013
21866015@unknown@formal@none@1@S@Mr. Mason says he's convinced the public still wants to invest in common stocks, even though they believe the deck is stacked against them.@@@@1@24@@oe@2-2-2013
21866016@unknown@formal@none@1@S@But "these wide swings scare them to death."@@@@1@8@@oe@2-2-2013
21866017@unknown@formal@none@1@S@All of this is bad news for the big brokerage firms such as Shearson and Merrill Lynch & Co. that have big "retail," or individual-investor, businesses.@@@@1@26@@oe@2-2-2013
21866018@unknown@formal@none@1@S@After expanding rapidly during the bull-market years up to the 1987 crash, retail brokerage operations these days are getting barely enough business to pay the overhead.@@@@1@26@@oe@2-2-2013
21866019@unknown@formal@none@1@S@True, the amount of money investors are willing to entrust to their brokers has been growing lately.@@@@1@17@@oe@2-2-2013
21866020@unknown@formal@none@1@S@But those dollars have been going into such "safe" products as money market funds, which don't generate much in the way of commissions for the brokerage firms.@@@@1@27@@oe@2-2-2013
21866021@unknown@formal@none@1@S@At discount brokerage Charles Schwab & Co., such "cash-equivalent" investments recently accounted for a record $8 billion of the firm's $25 billion of client's assets.@@@@1@25@@oe@2-2-2013
21866022@unknown@formal@none@1@S@The brokers' hope has been that they could soon coax investors into shifting some of their hoard into the stock market.@@@@1@21@@oe@2-2-2013
21866023@unknown@formal@none@1@S@And before last Friday, they were actually making modest progress.@@@@1@10@@oe@2-2-2013
21866024@unknown@formal@none@1@S@A slightly higher percentage of New York Stock Exchange volume has been attributed to retail investors in recent months compared with post-crash 1988, according to Securities Industry Association data.@@@@1@29@@oe@2-2-2013
21866025@unknown@formal@none@1@S@In 1987, an average 19.7% of Big Board volume was retail business, with the monthly level never more than 21.4%.@@@@1@20@@oe@2-2-2013
21866026@unknown@formal@none@1@S@The retail participation dropped to an average 18.2% in 1988, and shriveled to barely 14% some months during the year.@@@@1@20@@oe@2-2-2013
21866027@unknown@formal@none@1@S@Yet in 1989, retail participation has been more than 20% in every month, and was 23.5% in August, the latest month for which figures are available.@@@@1@26@@oe@2-2-2013
21866028@unknown@formal@none@1@S@Jeffrey Schaefer, the SIA's research director, says that all of his group's retail-volume statistics could be overstated by as much as five percentage points because corporate buy-backs are sometimes inadvertently included in Big Board data.@@@@1@35@@oe@2-2-2013
21866029@unknown@formal@none@1@S@But there did seem to be a retail activity pickup.@@@@1@10@@oe@2-2-2013
21866030@unknown@formal@none@1@S@But "Friday didn't help things," says Mr. Schaefer.@@@@1@8@@oe@2-2-2013
21866031@unknown@formal@none@1@S@With the gyrations of recent days, says Hugo Quackenbush, senior vice president at Charles Schwab, many small investors are absolutely convinced that "they shouldn't play in the stock market."@@@@1@29@@oe@2-2-2013
21866032@unknown@formal@none@1@S@Joseph Grano, president of retail sales and marketing at PaineWebber Group Inc., still thinks that individual investors will eventually go back into the stock market.@@@@1@25@@oe@2-2-2013
21866033@unknown@formal@none@1@S@Investors will develop "thicker skins," and their confidence will return, he says.@@@@1@12@@oe@2-2-2013
21866034@unknown@formal@none@1@S@Friday's plunge, he is telling PaineWebber brokers, was nothing more than a "tremendous reaction to leveraged buy-out stocks."@@@@1@18@@oe@2-2-2013
21866035@unknown@formal@none@1@S@Meanwhile, PaineWebber remains among the leaders in efforts to simply persuade investors to keep giving Wall Street their money.@@@@1@19@@oe@2-2-2013
21866036@unknown@formal@none@1@S@"It's more of an important issue to keep control of those assets, rather than push the investor to move into (specific) products such as equities," Mr. Grano says.@@@@1@28@@oe@2-2-2013
21866037@unknown@formal@none@1@S@"The equity decision will come when the client is ready and when there's a semblance of confidence."@@@@1@17@@oe@2-2-2013
21866038@unknown@formal@none@1@S@It could be a long wait, say some industry observers.@@@@1@10@@oe@2-2-2013
21866039@unknown@formal@none@1@S@"Some investors will tiptoe back in," says Richard Ross, a market research director for Elrick & Lavidge in Chicago.@@@@1@19@@oe@2-2-2013
21866040@unknown@formal@none@1@S@"Then there'll be another swing.@@@@1@5@@oe@2-2-2013
21866041@unknown@formal@none@1@S@Given enough of these, this will drive everyone out except the most hardy," he adds.@@@@1@15@@oe@2-2-2013
21866042@unknown@formal@none@1@S@Mr. Ross, who has been studying retail investors' perception of risks in the brokerage industry, said a market plunge like Friday's "shatters investors' confidence in their ability to make any judgments on the market."@@@@1@34@@oe@2-2-2013
21866043@unknown@formal@none@1@S@The long-term outlook for the retail brokerage business is "miserable," Mr. Ross declares.@@@@1@13@@oe@2-2-2013
21867001@unknown@formal@none@1@S@The following were among yesterday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
21867002@unknown@formal@none@1@S@Washington, D.C. --@@@@1@3@@oe@2-2-2013
21867003@unknown@formal@none@1@S@$200 million of general obligation tax revenue anticipation notes, Series 1990, due Sept. 28, 1990.@@@@1@15@@oe@2-2-2013
21867004@unknown@formal@none@1@S@About $190 million were offered through Shearson Lehman Hutton Inc.@@@@1@10@@oe@2-2-2013
21867005@unknown@formal@none@1@S@Shearson is offering the notes as 6 3/4% securities priced to yield 6.15%.@@@@1@13@@oe@2-2-2013
21867006@unknown@formal@none@1@S@J.P. Morgan Securities Inc. is offering the remaining $10 million of notes.@@@@1@12@@oe@2-2-2013
21867007@unknown@formal@none@1@S@The notes are rated MIG-1 by Moody's Investors Service Inc.@@@@1@10@@oe@2-2-2013
21867008@unknown@formal@none@1@S@Standard & Poor's Corp. has them under review.@@@@1@8@@oe@2-2-2013
21867009@unknown@formal@none@1@S@Federal National Mortgage Association --@@@@1@5@@oe@2-2-2013
21867010@unknown@formal@none@1@S@$400 million of Remic mortgage securities being offered in 16 classes by Bear, Stearns & Co.@@@@1@16@@oe@2-2-2013
21867011@unknown@formal@none@1@S@The offering, Series 1989-83, is backed by Fannie Mae 9% securities.@@@@1@11@@oe@2-2-2013
21867012@unknown@formal@none@1@S@The offering used at-market pricing.@@@@1@5@@oe@2-2-2013
21867013@unknown@formal@none@1@S@Separately, Fannie Mae issued $400 million of Remic mortgage securities in 12 classes through First Boston Corp.@@@@1@17@@oe@2-2-2013
21867014@unknown@formal@none@1@S@The offering, Series 1989-84, is backed by Fannie Mae 9% securities.@@@@1@11@@oe@2-2-2013
21867015@unknown@formal@none@1@S@Pricing details weren't available.@@@@1@4@@oe@2-2-2013
21867016@unknown@formal@none@1@S@The two offerings bring Fannie Mae's 1989 Remic issuance to $31 billion and its total volume to $43.3 billion since the program began in April 1987.@@@@1@26@@oe@2-2-2013
21867017@unknown@formal@none@1@S@Societa per Azioni Finanziaria Industria Manaifatturiera (Italy) --@@@@1@8@@oe@2-2-2013
21867018@unknown@formal@none@1@S@$150 million of 9% depository receipts due Nov. 27, 1994, priced at 101.60 to yield 9.07% less fees, via Bankers Trust International Ltd.@@@@1@23@@oe@2-2-2013
21867019@unknown@formal@none@1@S@Fees 1 7/8.@@@@1@3@@oe@2-2-2013
21867020@unknown@formal@none@1@S@Mitsubishi Corp. Finance (Japanese parent) --@@@@1@6@@oe@2-2-2013
21867021@unknown@formal@none@1@S@$100 million of 8 5/8% bonds due Nov. 1, 1993 priced at 101 1/4 to yield 8.74% annually less full fees, via Yamaichi International (Europe) Ltd.@@@@1@26@@oe@2-2-2013
21867022@unknown@formal@none@1@S@Fees 1 5/8.@@@@1@3@@oe@2-2-2013
21867023@unknown@formal@none@1@S@Indian Oil Corp. (India) --@@@@1@5@@oe@2-2-2013
21867024@unknown@formal@none@1@S@$200 million of floating-rate notes due November 1994, paying six-month London interbank offered rate plus 3/16 point and priced at par via Credit Suisse First Boston Ltd.@@@@1@27@@oe@2-2-2013
21867025@unknown@formal@none@1@S@Guaranteed by India.@@@@1@3@@oe@2-2-2013
21867026@unknown@formal@none@1@S@Fees 0.36.@@@@1@2@@oe@2-2-2013
21867027@unknown@formal@none@1@S@Notes offered at a fixed level of 99.75.@@@@1@8@@oe@2-2-2013
21867028@unknown@formal@none@1@S@National Westminster Bank PLC (U.K.) --@@@@1@6@@oe@2-2-2013
21867029@unknown@formal@none@1@S@#200 million of undated variable-rate notes priced at par via Merill Lynch International Ltd.@@@@1@14@@oe@2-2-2013
21867030@unknown@formal@none@1@S@Initial interest rate set at 0.375 point over three-month Libor.@@@@1@10@@oe@2-2-2013
21867031@unknown@formal@none@1@S@Subsequent margins set by agreement between NatWest and Merrill.@@@@1@9@@oe@2-2-2013
21867032@unknown@formal@none@1@S@If no margin agreed, there is a fallback rate of Libor plus 0.75 point in years one to 15, and Libor plus 1.25 point thereafter.@@@@1@25@@oe@2-2-2013
21867033@unknown@formal@none@1@S@Keihin Electric Express Railway Co. (Japan) --@@@@1@7@@oe@2-2-2013
21867034@unknown@formal@none@1@S@$150 million of bonds due Nov. 9, 1993, with equity-purchase warrants, indicating a 4% coupon at par via Yamaichi International (Europe) Ltd.@@@@1@22@@oe@2-2-2013
21867035@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Dec. 1, 1989, through Nov. 2, 1993, to buy company shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Oct. 24.@@@@1@37@@oe@2-2-2013
21867036@unknown@formal@none@1@S@Seiren Co. (Japan) --@@@@1@4@@oe@2-2-2013
21867037@unknown@formal@none@1@S@110 million Swiss francs of privately placed convertible notes due March 31, 1994, with an indicated 0.25% coupon at par, via Bank Leu Ltd.@@@@1@24@@oe@2-2-2013
21867038@unknown@formal@none@1@S@Put option on March 31, 1992, at an indicated 109 to yield 3.865%.@@@@1@13@@oe@2-2-2013
21867039@unknown@formal@none@1@S@Callable on March 31, 1992, at 109, also beginning Sept. 30, 1992, from 101 1/2 and declining half a point semiannually to par.@@@@1@23@@oe@2-2-2013
21867040@unknown@formal@none@1@S@Each 50,000 Swiss franc note is convertible from Nov. 20, 1989, to March 17, 1994, at an indicated 5% premium over the closing share price Oct. 25, when terms are scheduled to be fixed.@@@@1@34@@oe@2-2-2013
21867041@unknown@formal@none@1@S@N. Nomura & Co. (Japan) --@@@@1@6@@oe@2-2-2013
21867042@unknown@formal@none@1@S@50 million Swiss francs of privately placed convertible notes due March 31, 1994, with an indicated 0.5% coupon at par, via Bank Julius Baer.@@@@1@24@@oe@2-2-2013
21867043@unknown@formal@none@1@S@Put option on March 31, 1992, at an indicated 108 1/4 to yield 3.846%.@@@@1@14@@oe@2-2-2013
21867044@unknown@formal@none@1@S@Each 50,000 Swiss franc note is convertible from Nov. 20, 1989, to March 17, 1994, at a 5% premium over the closing share price Oct. 21, when terms are scheduled to be fixed.@@@@1@33@@oe@2-2-2013
21867045@unknown@formal@none@1@S@Aegon N.V. (Netherlands) --@@@@1@4@@oe@2-2-2013
21867046@unknown@formal@none@1@S@250 million Dutch guilders of 7 3/4% bonds due Nov. 15, 1999, priced at 101 1/4 to yield 7.57% at issue price and 7.86% less full fees, via AMRO Bank.@@@@1@30@@oe@2-2-2013
21867047@unknown@formal@none@1@S@Fees 2.@@@@1@2@@oe@2-2-2013
21867048@unknown@formal@none@1@S@Continental Airlines --@@@@1@3@@oe@2-2-2013
21867049@unknown@formal@none@1@S@a four-part, $71 million issue of secured equipment certificates priced through Drexel Burnham Lambert Inc.@@@@1@15@@oe@2-2-2013
21867050@unknown@formal@none@1@S@The size of the issue was decreased from an originally planned $95.2 million.@@@@1@13@@oe@2-2-2013
21867051@unknown@formal@none@1@S@In addition, a planned two-part offering of $58 million in unsecured notes wasn't offered.@@@@1@14@@oe@2-2-2013
21867052@unknown@formal@none@1@S@The first part, consisting of $2.5 million of 11 1/4% secured equipment certificates due June 15, 1990, was priced at 98.481 with a yield to maturity of 13.75%.@@@@1@28@@oe@2-2-2013
21867053@unknown@formal@none@1@S@The second part, consisting of $28 million of 11 3/4% secured equipment certificates due June 15, 1995, was priced at 87.026 with a yield to maturity of 15.25%.@@@@1@28@@oe@2-2-2013
21867054@unknown@formal@none@1@S@The third part, consisting of $18.5 million of 12 1/8% secured equipment certificates due April 15, 1996, was priced at 85.60 with a yield to maturity of 15.75%.@@@@1@28@@oe@2-2-2013
21867055@unknown@formal@none@1@S@The fourth part, consisting of $22 million of 12 1/2% secured equipment certificates due April 15, 1999, was priced at 85.339 with a yield to maturity of 15.50%.@@@@1@28@@oe@2-2-2013
21867056@unknown@formal@none@1@S@The issue was rated single-B-2 by Moody's and single-B by S&P.@@@@1@11@@oe@2-2-2013
21867057@unknown@formal@none@1@S@All parts of the issue are callable at any time at par.@@@@1@12@@oe@2-2-2013
21867058@unknown@formal@none@1@S@Continental Airlines is a unit of Texas Air Corp.@@@@1@9@@oe@2-2-2013
21868001@unknown@formal@none@1@S@John V. Holmes, an investment-newsletter publisher, and three venture-capital firms he organized were enjoined from violating the registration provisions of the securities laws governing investment companies.@@@@1@26@@oe@2-2-2013
21868002@unknown@formal@none@1@S@As part of an agreement that settled charges brought by the Securities and Exchange Commission, a receiver was also appointed for the three venture-capital firms.@@@@1@25@@oe@2-2-2013
21868003@unknown@formal@none@1@S@Mr. Holmes was the subject of a page one profile in The Wall Street Journal in 1984, after the SEC questioned him about ties between him and companies he touted in a newsletter.@@@@1@33@@oe@2-2-2013
21868004@unknown@formal@none@1@S@In 1986, in another consent agreement with the SEC, Mr. Holmes was enjoined from violating the stock-registration and anti-fraud provisions of the securities laws.@@@@1@24@@oe@2-2-2013
21868005@unknown@formal@none@1@S@Without any admission or denial of guilt by Mr. Holmes, that agreement settled SEC charges that Mr. Holmes sold unregistered securities and misled investors.@@@@1@24@@oe@2-2-2013
21868006@unknown@formal@none@1@S@In charges filed last week in federal district court in Charlotte, N.C., the SEC alleged that Venture Capitalists Inc., Venture Finance Corp. and New Ventures Fund Inc., all of Charlotte, failed repeatedly to file proper documents.@@@@1@36@@oe@2-2-2013
21868007@unknown@formal@none@1@S@The SEC also charged that Mr. Holmes acted as an officer or director of New Ventures, in violation of his previous consent agreement.@@@@1@23@@oe@2-2-2013
21868008@unknown@formal@none@1@S@"Some companies were delinquent in filings and other actions, all of which cost money," Mr. Holmes said.@@@@1@17@@oe@2-2-2013
21868009@unknown@formal@none@1@S@Two of Mr. Holmes's business associates who worked for Venture Capitalists, Kimberly Ann Smith and Frederick Byrum, also consented to being enjoined from violations of registration provisions of the securities laws.@@@@1@31@@oe@2-2-2013
21868010@unknown@formal@none@1@S@Ms. Smith also agreed to a permanent injunction barring her from acting as an officer, director or investment adviser of any mutual fund, unit investment trust or face-amount certificate company.@@@@1@30@@oe@2-2-2013
21868011@unknown@formal@none@1@S@Mr. Byrum and Ms. Smith couldn't be reached for comment.@@@@1@10@@oe@2-2-2013
21868012@unknown@formal@none@1@S@In consenting to the injunctions, none of the individuals or companies admitted or denied the allegations.@@@@1@16@@oe@2-2-2013
21869001@unknown@formal@none@1@S@Senate Republicans have settled on a proposal that would cut the capital-gains tax for individuals and corporations.@@@@1@17@@oe@2-2-2013
21869002@unknown@formal@none@1@S@At the same time, a small group of Senate Democrats are working on a similar plan and may introduce it soon.@@@@1@21@@oe@2-2-2013
21869003@unknown@formal@none@1@S@Sen. Bob Packwood (R., Ore.), the lead sponsor of the GOP proposal, said he intends to unveil the plan today and to offer it as an amendment to whatever legislation comes along, particularly this month's bill to raise the federal borrowing limit.@@@@1@42@@oe@2-2-2013
21869004@unknown@formal@none@1@S@He gave 10-to-1 odds that a capital-gains tax cut of some sort would be approved this year, though it probably won't be included in the pending deficit-reduction bill.@@@@1@28@@oe@2-2-2013
21869005@unknown@formal@none@1@S@He added that he expects to talk to the Democrats who also wanted to cut the gains tax about drafting a joint proposal.@@@@1@23@@oe@2-2-2013
21869006@unknown@formal@none@1@S@For individuals, the Packwood plan would exclude from income 5% of the gain from the sale of a capital asset held for more than one year.@@@@1@26@@oe@2-2-2013
21869007@unknown@formal@none@1@S@The exclusion would rise five percentage points for each year the asset was held until it reached a maximum of 35%.@@@@1@21@@oe@2-2-2013
21869008@unknown@formal@none@1@S@The exclusion would apply to assets sold after Oct. 1, 1989.@@@@1@11@@oe@2-2-2013
21869009@unknown@formal@none@1@S@As an alternative, he said, taxpayers could chose to reduce their gains by an inflation index.@@@@1@16@@oe@2-2-2013
21869010@unknown@formal@none@1@S@For corporations, the top tax rate on the sale of assets held for more than three years would be cut to 33% from the current top rate of 34%.@@@@1@29@@oe@2-2-2013
21869011@unknown@formal@none@1@S@That rate would gradually decline to as little as 29% for corporate assets held for 15 years.@@@@1@17@@oe@2-2-2013
21869012@unknown@formal@none@1@S@The Packwood plan would also include a proposal, designed by Sen. William Roth (R., Del.), that would expand and alter the deduction for individual retirement accounts.@@@@1@26@@oe@2-2-2013
21869013@unknown@formal@none@1@S@The Roth plan would create a new, non-deductible IRA from which money could be withdrawn tax-free not only for retirement, but also for the purchase of a first home and to pay education and medical expenses.@@@@1@36@@oe@2-2-2013
21869014@unknown@formal@none@1@S@Current IRAs could be rolled over into the new IRAs but would be subject to tax.@@@@1@16@@oe@2-2-2013
21869015@unknown@formal@none@1@S@For their part, the group of Democrats are working on a plan that, like the Packwood proposal, would grant larger exclusions to assets the longer they were held by individuals and companies.@@@@1@32@@oe@2-2-2013
21869016@unknown@formal@none@1@S@Newly acquired assets would get a bigger break than those currently held.@@@@1@12@@oe@2-2-2013
21869017@unknown@formal@none@1@S@An extra exclusion would be given to long-held stock in small and medium-size corporations just starting up.@@@@1@17@@oe@2-2-2013
21869018@unknown@formal@none@1@S@No one in the Senate is considering the capital-gains plan passed by the House.@@@@1@14@@oe@2-2-2013
21869019@unknown@formal@none@1@S@That plan would provide a 30% exclusion to assets sold over a 2 1/2-year period ending Dec. 31, 1991.@@@@1@19@@oe@2-2-2013
21869020@unknown@formal@none@1@S@After then, the House measure would boost the tax rate to 28% and exclude from tax the gain attributable to inflation.@@@@1@21@@oe@2-2-2013
21869021@unknown@formal@none@1@S@Senators are focusing on making a capital-gains differential permanent.@@@@1@9@@oe@2-2-2013
21869022@unknown@formal@none@1@S@Separately, Chairman Dan Rostenkowski (D., Ill.) of the House Ways and Means Committee said he didn't want the capital-gains tax cut or any other amendments attached to the pending bill raising the federal borrowing limit.@@@@1@35@@oe@2-2-2013
21869023@unknown@formal@none@1@S@The current debt limit expires Oct. 31.@@@@1@7@@oe@2-2-2013
21869024@unknown@formal@none@1@S@He also urged House and Senate negotiators to rid the deficit-reduction bill of all provisions that increase the budget deficit, including the House-passed capital-gains provision.@@@@1@25@@oe@2-2-2013
21870001@unknown@formal@none@1@S@From a helicopter a thousand feet above Oakland after the second-deadliest earthquake in U.S. history, a scene of devastation emerges: a freeway crumbled into a concrete sandwich, hoses pumping water into once-fashionable apartments, abandoned autos.@@@@1@35@@oe@2-2-2013
21870002@unknown@formal@none@1@S@But this quake wasn't the big one, the replay of 1906 that has been feared for so many years.@@@@1@19@@oe@2-2-2013
21870003@unknown@formal@none@1@S@Despite the tragic loss of more than 270 lives, and damage estimated in the billions, most businesses and their plants and offices in the Bay area weren't greatly affected.@@@@1@29@@oe@2-2-2013
21870004@unknown@formal@none@1@S@The economic life of the region is expected to revive in a day or two, although some transportation problems may last weeks or months.@@@@1@24@@oe@2-2-2013
21870005@unknown@formal@none@1@S@A main factor mitigating more widespread damage was the location of the quake's epicenter -- 20 miles from the heart of the Silicon Valley and more than 50 miles from downtown San Francisco and Oakland.@@@@1@35@@oe@2-2-2013
21870006@unknown@formal@none@1@S@Also, the region's insistence on strict building codes helped prevent wider damage.@@@@1@12@@oe@2-2-2013
21870007@unknown@formal@none@1@S@The tremendous energy of the quake was dissipated by the distance, so that most parts of the valley and the major cities suffered largely cosmetic damage -- broken windows, falling brick and cornices, buckled asphalt or sidewalks.@@@@1@37@@oe@2-2-2013
21870008@unknown@formal@none@1@S@Of course, the quake was the worst since the emergence of the computer era turned Silicon Valley into the nation's capital of high technology.@@@@1@24@@oe@2-2-2013
21870009@unknown@formal@none@1@S@Like other major American cities, the San Francisco -- Oakland area owes its current prosperity more to its infrastructure of fiber-optic cables linking thousands of computer terminals and telephones than to its location astride one of the world's great natural harbors.@@@@1@41@@oe@2-2-2013
21870010@unknown@formal@none@1@S@When the tremors struck, the region's largely unseen high-tech fabric held up surprisingly well despite the devastation visible from the air.@@@@1@21@@oe@2-2-2013
21870011@unknown@formal@none@1@S@Michael L. Bandler, vice president for network technology at Pacific Bell Telephone Co., says nearly all the network's computer switches, which move thousands of calls a minute from one location to another, changed to battery power when the city lost power.@@@@1@41@@oe@2-2-2013
21870012@unknown@formal@none@1@S@The battery packs have enough power for only three hours, but that gave emergency crews time to turn on an emergency system that runs primarily on diesel fuel.@@@@1@28@@oe@2-2-2013
21870013@unknown@formal@none@1@S@Of some 160 switches in Pacific Bell's network, only four went down.@@@@1@12@@oe@2-2-2013
21870014@unknown@formal@none@1@S@One of those was in Hollister, Calif., near the earthquake's epicenter.@@@@1@11@@oe@2-2-2013
21870015@unknown@formal@none@1@S@Few telephone lines snapped.@@@@1@4@@oe@2-2-2013
21870016@unknown@formal@none@1@S@That's because the widely used fiber-optic cable has been installed underground with 25 extra feet of cable between junction points.@@@@1@20@@oe@2-2-2013
21870017@unknown@formal@none@1@S@The slack absorbs the pulling strain generated by an earthquake.@@@@1@10@@oe@2-2-2013
21870018@unknown@formal@none@1@S@Nevertheless, phone service was sporadic; many computer terminals remained dark, and by late yesterday a third of San Francisco remained without power.@@@@1@22@@oe@2-2-2013
21870019@unknown@formal@none@1@S@Business in the nation's fourth-largest metropolitan region was nearly paralyzed; an estimated one million members of the work force stayed at home.@@@@1@22@@oe@2-2-2013
21870020@unknown@formal@none@1@S@The economic dislocation was as abrupt as the earthquake itself, as virtually all businesses shut down.@@@@1@16@@oe@2-2-2013
21870021@unknown@formal@none@1@S@The $125-billion-a-year Bay area economy represents one-fourth of the economy of the nation's most populous state and accounts for 2% to 3% of the nation's total output of goods and services, according to the Center for Continuing Study of the California Economy in Palo Alto.@@@@1@45@@oe@2-2-2013
21870022@unknown@formal@none@1@S@In high-tech, the Bay area accounts for 15% to 20% of the U.S. computer-related industry.@@@@1@15@@oe@2-2-2013
21870023@unknown@formal@none@1@S@"This has been a major disruption for the Bay area economy," says Pauline Sweezey, the chief economist at the California Department of Finance.@@@@1@23@@oe@2-2-2013
21870024@unknown@formal@none@1@S@"Obviously, things are going to have to go on hold for many companies."@@@@1@13@@oe@2-2-2013
21870025@unknown@formal@none@1@S@The damage to the Bay area's roadways could cause significant economic hardship.@@@@1@12@@oe@2-2-2013
21870026@unknown@formal@none@1@S@A quarter of a million people cross the Bay Bridge every day, far more than the 100,000 that use the Bay Area Rapid Transit system (BART) -- which was working but wasn't stopping in the city's Financial District yesterday afternoon because electricity was shut off and the area was being checked for gas leaks.@@@@1@54@@oe@2-2-2013
21870027@unknown@formal@none@1@S@California state transportation officials interviewed by telephone say they nevertheless don't expect serious problems for commerce in and out of the Bay area.@@@@1@23@@oe@2-2-2013
21870028@unknown@formal@none@1@S@All major roadways except Interstate 880, known as the Nimitz Freeway, and the Bay Bridge were open by 1 p.m. yesterday.@@@@1@21@@oe@2-2-2013
21870029@unknown@formal@none@1@S@Officials expect difficulty routing traffic through downtown San Francisco.@@@@1@9@@oe@2-2-2013
21870030@unknown@formal@none@1@S@The earthquake caused many streets to buckle and crack, making them impassible.@@@@1@12@@oe@2-2-2013
21870031@unknown@formal@none@1@S@Other roads were obstructed by collapsed buildings and damaged water and power lines, an emergency relief spokesman says.@@@@1@18@@oe@2-2-2013
21870032@unknown@formal@none@1@S@San Francisco Mayor Art Agnos estimated the damage to his city alone at $2 billion.@@@@1@15@@oe@2-2-2013
21870033@unknown@formal@none@1@S@But many predicted that the commercial disruption would be short-lived.@@@@1@10@@oe@2-2-2013
21870034@unknown@formal@none@1@S@Of the scores of companies contacted by this newspaper, few reported any damage that they didn't expect to have remedied within a day or two.@@@@1@25@@oe@2-2-2013
21870035@unknown@formal@none@1@S@It is possible, of course, that some of the most seriously damaged companies couldn't be reached, particularly in areas nearest the epicenter.@@@@1@22@@oe@2-2-2013
21870036@unknown@formal@none@1@S@Typical, perhaps, was the situation at New United Motor Manufacturing Inc., the General Motors Corp.-Toyota joint-venture auto plant in Fremont, about 35 miles south of Oakland.@@@@1@26@@oe@2-2-2013
21870037@unknown@formal@none@1@S@Ten of the plant's workers were injured when the quake hit about a half-hour into the afternoon shift; seven were hospitalized.@@@@1@21@@oe@2-2-2013
21870038@unknown@formal@none@1@S@Metal racks on the plant floor fell over, and water mains ruptured, a spokeswoman says.@@@@1@15@@oe@2-2-2013
21870039@unknown@formal@none@1@S@The plant was evacuated and workers sent home.@@@@1@8@@oe@2-2-2013
21870040@unknown@formal@none@1@S@But the plant was able to resume limited production of its Toyota Corollas and Geo Prizms by 6 a.m. yesterday, and absenteeism was only 7% of the work force, about twice normal.@@@@1@32@@oe@2-2-2013
21870041@unknown@formal@none@1@S@Computer maker Hewlett-Packard Co., based in Palo Alto, says one of its buildings sustained severe damage when it was knocked off its foundation.@@@@1@23@@oe@2-2-2013
21870042@unknown@formal@none@1@S@Other buildings had broken glass, dangling light fixtures and broken pipes, a spokesperson says, estimating the cost of reconstruction "in the millions."@@@@1@22@@oe@2-2-2013
21870043@unknown@formal@none@1@S@Most banks were closed but were expected to reopen today with few problems anticipated.@@@@1@14@@oe@2-2-2013
21870044@unknown@formal@none@1@S@At the Federal Reserve Bank of San Francisco, Vice President Robert Fienberg says operations were "steaming along as usual" yesterday afternoon.@@@@1@21@@oe@2-2-2013
21870045@unknown@formal@none@1@S@`When the quake hit, we turned on our emergency generator and brought our computers up," he says.@@@@1@17@@oe@2-2-2013
21870046@unknown@formal@none@1@S@The Fed serves as a middleman for banks, taking checks from one bank and sending them to another, an operation that it handled smoothly Tuesday night after the quake.@@@@1@29@@oe@2-2-2013
21870047@unknown@formal@none@1@S@"The volume we received from the banks was a lot lower than usual," he says.@@@@1@15@@oe@2-2-2013
21870048@unknown@formal@none@1@S@A disaster-contingency plan in which the Los Angeles Fed would come to San Francisco's aid wasn't needed, he adds.@@@@1@19@@oe@2-2-2013
21870049@unknown@formal@none@1@S@Most of the telephone problems in the immediate aftermath stemmed from congestion.@@@@1@12@@oe@2-2-2013
21870050@unknown@formal@none@1@S@The telephone network simply couldn't handle the large number of people seeking to make a call at the same time.@@@@1@20@@oe@2-2-2013
21870051@unknown@formal@none@1@S@The volume resulted in dial-tone delays that were as short as 15 seconds and as long as five minutes.@@@@1@19@@oe@2-2-2013
21870052@unknown@formal@none@1@S@Mr. Bandler puts traffic volume at 10 to 50 times normal.@@@@1@11@@oe@2-2-2013
21870053@unknown@formal@none@1@S@American Telephone & Telegraph Co., MCI Communications Inc. and United Telecommunications' U S Sprint unit were blocking phone calls into the Bay area to alleviate congestion.@@@@1@26@@oe@2-2-2013
21870054@unknown@formal@none@1@S@The companies block traffic much as highway on-ramps are blocked when traffic backs up.@@@@1@14@@oe@2-2-2013
21870055@unknown@formal@none@1@S@William E. Downing, Pacific Bell's vice president of customer services for the Bay area, says most long-distance companies were blocking about 50% of all calls.@@@@1@25@@oe@2-2-2013
21870056@unknown@formal@none@1@S@Pacific Telesis says its Pacific Bell unit also was blocking about 50% of its calls locally.@@@@1@16@@oe@2-2-2013
21870057@unknown@formal@none@1@S@Ironically, the long-term effect of the earthquake may be to bolster the Bay area's economic fortunes and, indeed, the nation's gross national product.@@@@1@23@@oe@2-2-2013
21870058@unknown@formal@none@1@S@It may also lead to new safeguards in major construction projects such as double-deck highways.@@@@1@15@@oe@2-2-2013
21870059@unknown@formal@none@1@S@"It would in the near-term give a boost to the San Francisco economy because there will be an influx of people to help," says Beth Burnham Mace, a regional economist at DRI/McGraw Hill, a Lexington, Mass., forecasting firm.@@@@1@38@@oe@2-2-2013
21870060@unknown@formal@none@1@S@The construction industry is sure to feel increased demand.@@@@1@9@@oe@2-2-2013
21870061@unknown@formal@none@1@S@"There will be a big influx of federal dollars and gains in state, federal and local employment," Ms. Mace says.@@@@1@20@@oe@2-2-2013
21870062@unknown@formal@none@1@S@Adds Stacy Kotman, an economist at Georgia State University, "There's nothing positive about an earthquake, but it will probably generate more construction activity."@@@@1@23@@oe@2-2-2013
21870063@unknown@formal@none@1@S@Wall Street reacted swiftly yesterday to the disaster by bidding up stocks of construction and related companies.@@@@1@17@@oe@2-2-2013
21870064@unknown@formal@none@1@S@Shares of Lone Star Industries Inc., a cement maker, rose sharply in anticipation of stepped-up demand.@@@@1@16@@oe@2-2-2013
21870065@unknown@formal@none@1@S@In Greenwich, Conn., Lone Star spokesman Michael London says, "Obviously with an earthquake of this size, there are likely to be construction projects that wouldn't otherwise have been anticipated.@@@@1@29@@oe@2-2-2013
21870066@unknown@formal@none@1@S@But any increase isn't likely to be any kind of a surge.@@@@1@12@@oe@2-2-2013
21870067@unknown@formal@none@1@S@It's something likely to be spread out over a long period of time.@@@@1@13@@oe@2-2-2013
21870068@unknown@formal@none@1@S@There will be a lot of repair work that won't require the quantities of cement or concrete that new constructon would."@@@@1@21@@oe@2-2-2013
21870069@unknown@formal@none@1@S@Lone Star's San Francisco facilities weren't damaged in the quake.@@@@1@10@@oe@2-2-2013
21870070@unknown@formal@none@1@S@The earthquake is likely to reduce GNP negligibly in the near term and then could raise it a bit as rebuilding begins.@@@@1@22@@oe@2-2-2013
21870071@unknown@formal@none@1@S@The first effects are, of course, negative as work is disrupted and people lose income and cut spending.@@@@1@18@@oe@2-2-2013
21870072@unknown@formal@none@1@S@Corporate profits may also dip initially.@@@@1@6@@oe@2-2-2013
21870073@unknown@formal@none@1@S@Many of the lost tourism dollars won't be recovered; many trips delayed never take place.@@@@1@15@@oe@2-2-2013
21870074@unknown@formal@none@1@S@Subsequently, however, the ill effects are likely to be offset, at least in economic terms, as construction activity begins.@@@@1@19@@oe@2-2-2013
21870075@unknown@formal@none@1@S@Because of the way the government keeps its books, the damage to the Bay Bridge, however costly, won't be counted as a minus.@@@@1@23@@oe@2-2-2013
21870076@unknown@formal@none@1@S@The money spent on repairs will be counted as a plus.@@@@1@11@@oe@2-2-2013
21870077@unknown@formal@none@1@S@"It's very difficult to model the long-term impact of this," says Andrew Goldberg, who studies the public-policy and crisis-management aspects of earthquakes at the Center for Strategic International Studies in Washington, D.C.@@@@1@32@@oe@2-2-2013
21870078@unknown@formal@none@1@S@"You certainly can say it's going to be extremely severe.@@@@1@10@@oe@2-2-2013
21870079@unknown@formal@none@1@S@We really are talking about shutting down a major American city for a number of days, maybe for a few weeks."@@@@1@21@@oe@2-2-2013
21870080@unknown@formal@none@1@S@Mr. Goldberg says the cost of the earthquake will definitely top $1 billion and could reach $4 billion.@@@@1@18@@oe@2-2-2013
21870081@unknown@formal@none@1@S@He cautions that early damage estimates are often low; the damage totals in Hurricane Hugo increased tenfold as more information was received.@@@@1@22@@oe@2-2-2013
21870082@unknown@formal@none@1@S@The earthquake damage, of course, would have been far greater if the epicenter had been in downtown San Francisco.@@@@1@19@@oe@2-2-2013
21870083@unknown@formal@none@1@S@A direct hit on a major city, Mr. Goldberg figures, would cause $20 billion to $40 billion of damage.@@@@1@19@@oe@2-2-2013
21870084@unknown@formal@none@1@S@Experts caution that it is far too soon for reliable estimates of the quake's total damage, but it's clear that insurers are likely to pay out enormous sums.@@@@1@28@@oe@2-2-2013
21870085@unknown@formal@none@1@S@Jack Byrne, the chairman of Fireman's Fund Corp., which is based in Novato, Calif., estimates insured losses resulting the earthquake could total $2 billion.@@@@1@24@@oe@2-2-2013
21870086@unknown@formal@none@1@S@The impact on the insurance industry "will be big and harsh, but less than {Hurricane} Hugo," says Mr. Byrne, who toured the Bay area by car yesterday afternoon to get a sense of the company's exposure to the earthquake.@@@@1@39@@oe@2-2-2013
21870087@unknown@formal@none@1@S@Mr. Byrne says Fireman's Fund will probably pay hundreds of millions in primary claims, but, after taxes and use of its reinsurance lines, the company's fourthquarter charge against earnings shouldn't top $50 million.@@@@1@33@@oe@2-2-2013
21870088@unknown@formal@none@1@S@The company was able to assess its damage liability quickly because it has computerized maps of Northern California showing the exact locations of all the property it insures.@@@@1@28@@oe@2-2-2013
21870089@unknown@formal@none@1@S@Fireman's Fund had claims adjusters on the streets of San Francisco right after sunrise yesterday and was paying as many claims as it could right on the spot.@@@@1@28@@oe@2-2-2013
21870090@unknown@formal@none@1@S@Fireman's Fund insures 37,300 homes and autos and 35,000 businesses in the Bay area.@@@@1@14@@oe@2-2-2013
21870091@unknown@formal@none@1@S@In addition to paying for earthquake and fire damage, the insurer must cover worker-compensation claims and also losses due to businesses being shut down by lack of power or phone service.@@@@1@31@@oe@2-2-2013
21870092@unknown@formal@none@1@S@But many Californians may not have adequate insurance coverage to pay for damages to their property.@@@@1@16@@oe@2-2-2013
21870093@unknown@formal@none@1@S@The Independent Insurance Agents of America says fewer than one of every five California homeowners has earthquake insurance.@@@@1@18@@oe@2-2-2013
21870094@unknown@formal@none@1@S@A somewhat higher percentage of people living in the Bay area have bought the additional insurance protection, but the great majority aren't covered.@@@@1@23@@oe@2-2-2013
21870095@unknown@formal@none@1@S@Earthquake insurance typically runs $200 or more a year for a small house.@@@@1@13@@oe@2-2-2013
21870096@unknown@formal@none@1@S@Whatever the long-term economic effect, the scene from the helicopter above Oakland is one of tragedy.@@@@1@16@@oe@2-2-2013
21870097@unknown@formal@none@1@S@Gargantuan sections of a double-decker freeway have been heaved about like plastic building blocks.@@@@1@14@@oe@2-2-2013
21870098@unknown@formal@none@1@S@Atop them sit cars and trucks abandoned in a terrifying scramble to safety the day before.@@@@1@16@@oe@2-2-2013
21870099@unknown@formal@none@1@S@In areas where the freeway made giant concrete sandwiches of itself lie cars that police say have been flattened into foot-thick slabs.@@@@1@22@@oe@2-2-2013
21870100@unknown@formal@none@1@S@On the periphery, rescue workers seem, from the air, to move in slow motion.@@@@1@14@@oe@2-2-2013
21870101@unknown@formal@none@1@S@They peck away at the 1 1/2-mile section of rubble, searching for more of the 250 people thought to have died here.@@@@1@22@@oe@2-2-2013
21870102@unknown@formal@none@1@S@About 20 other deaths were also attributed to the earthquake.@@@@1@10@@oe@2-2-2013
21870103@unknown@formal@none@1@S@The heart of the earthquake, 6.9 on the Richter scale, was 50 miles to the south, near Santa Cruz, but its terrible fist struck here on the Nimitz Freeway, a major artery serving the Bay Bridge between Oakland and San Francisco.@@@@1@41@@oe@2-2-2013
21870104@unknown@formal@none@1@S@Along the way, the quake toppled a mall in Santa Cruz, knocked down buildings in San Francisco's fashionable Marina District and sent a wall of bricks crashing on motorists in the city's Financial District.@@@@1@34@@oe@2-2-2013
21870105@unknown@formal@none@1@S@Just a short span across the bay to the west, the quake also showed its mettle: A four-square-block area of the Marina District lies smoldering under a steady stream of seawater being pumped onto rubble to prevent it from blazing anew.@@@@1@41@@oe@2-2-2013
21870106@unknown@formal@none@1@S@Many of the buildings, mostly condominiums and apartments, were flattened almost instantly as the underlying soil -- much of it landfill -- was literally turned to ooze by the quake's intensive shaking, rupturing gas lines.@@@@1@35@@oe@2-2-2013
21870107@unknown@formal@none@1@S@Onlookers say three persons died when one of the buildings exploded into a fireball shortly after the quake struck.@@@@1@19@@oe@2-2-2013
21870108@unknown@formal@none@1@S@Efforts to fight the blaze were hampered because water mains were severed as well.@@@@1@14@@oe@2-2-2013
21870109@unknown@formal@none@1@S@From the air, ribbons of yellow fire hose carry water from the bay to high-pressure nozzles trained on the site.@@@@1@20@@oe@2-2-2013
21870110@unknown@formal@none@1@S@As onlookers stand behind barricades, helmeted firemen and building inspectors survey rows of nearby buildings that were twisted from their foundations and seem on the verge of collapse.@@@@1@28@@oe@2-2-2013
21870111@unknown@formal@none@1@S@In the Marina District, residents spent yesterday assessing damage, cleaning up and trying to find friends and neighbors.@@@@1@18@@oe@2-2-2013
21870112@unknown@formal@none@1@S@Evelyn Boccone, 85 years old, has lived in the district most of her life.@@@@1@14@@oe@2-2-2013
21870113@unknown@formal@none@1@S@Her parents lost everything in the 1906 earthquake.@@@@1@8@@oe@2-2-2013
21870114@unknown@formal@none@1@S@"Now, we realize what our mothers must have gone through," she says.@@@@1@12@@oe@2-2-2013
21870115@unknown@formal@none@1@S@"We always heard about the earthquake, but as children we didn't always listen.@@@@1@13@@oe@2-2-2013
21871001@unknown@formal@none@1@S@PRINCE HENRI is the crown prince and hereditary grand duke of Luxembourg.@@@@1@12@@oe@2-2-2013
21871002@unknown@formal@none@1@S@An article in the World Business Report of Sept. 22 editions incorrectly referred to his father, Grand Duke Jean, as the crown prince.@@@@1@23@@oe@2-2-2013
21872001@unknown@formal@none@1@S@Resolution Funding Corp. plans to sell $4.5 billion of 30-year bonds Wednesday in the agency's first sale of securities.@@@@1@19@@oe@2-2-2013
21872002@unknown@formal@none@1@S@The new bonds will be dated Oct. 30 and mature Oct. 15, 2019.@@@@1@13@@oe@2-2-2013
21872003@unknown@formal@none@1@S@Tenders for the bonds, available in minimum denominations of $1,000, must be received by 1 p.m. EDT Wednesday at Federal Reserve banks.@@@@1@22@@oe@2-2-2013
21872004@unknown@formal@none@1@S@Refcorp, created by the thrift-overhaul law enacted in August, will use the proceeds to merge or sell off ailing savings-and-loan institutions.@@@@1@21@@oe@2-2-2013
21872005@unknown@formal@none@1@S@Congress authorized $50 billion to be borrowed to pay for the thrift bailout.@@@@1@13@@oe@2-2-2013
21872006@unknown@formal@none@1@S@Of that amount, $20 billion has already been borrowed by the Treasury Department.@@@@1@13@@oe@2-2-2013
21872007@unknown@formal@none@1@S@Unless otherwise specified in a particular offer, the bonds won't be subject to redemption prior to maturity.@@@@1@17@@oe@2-2-2013
21872008@unknown@formal@none@1@S@Interest payments on the bonds will be payable semiannually.@@@@1@9@@oe@2-2-2013
21872009@unknown@formal@none@1@S@The bonds are subject to federal taxation in the U.S., including income taxes.@@@@1@13@@oe@2-2-2013
21872010@unknown@formal@none@1@S@At the state and local level, the bonds are subject to surtaxes and estate, inheritance and gift taxes, but exempt from taxation as to principal and interest.@@@@1@27@@oe@2-2-2013
21873001@unknown@formal@none@1@S@G.D. Searle & Co., a Monsanto Co. unit, is launching a program to give consumers more information about its drugs when doctors prescribe them.@@@@1@24@@oe@2-2-2013
21873002@unknown@formal@none@1@S@Called Patients in the Know, the program features fact sheets designed to be easy to understand.@@@@1@16@@oe@2-2-2013
21873003@unknown@formal@none@1@S@The sheets tell how the medicine works, describe how to use it and list its possible side effects.@@@@1@18@@oe@2-2-2013
21873004@unknown@formal@none@1@S@They are designed to be given to patients by their doctors when the medicines are prescribed and include space for the doctor to write special instructions.@@@@1@26@@oe@2-2-2013
21873005@unknown@formal@none@1@S@In addition, Searle will give pharmacists brochures on the use of prescription drugs for distribution in their stores.@@@@1@18@@oe@2-2-2013
21873006@unknown@formal@none@1@S@Consumer groups have long advocated that drug companies and doctors make more information available to patients.@@@@1@16@@oe@2-2-2013
21873007@unknown@formal@none@1@S@"We believe that every drug that's marketed to a consumer should have a consumer label," said Douglas Teich of the Public Citizen Health Research Group, a Ralph Nader affiliate.@@@@1@29@@oe@2-2-2013
21873008@unknown@formal@none@1@S@Dr. Teich said Searle is "the only company I know that voluntarily" will make consumer information available.@@@@1@17@@oe@2-2-2013
21873009@unknown@formal@none@1@S@According to federal officials and drug-industry studies, nearly half of the 1.6 billion prescriptions filled each year aren't used properly, meaning that money is wasted on some prescriptions and patients are deprived of the benefits of medication.@@@@1@37@@oe@2-2-2013
21873010@unknown@formal@none@1@S@"We think it's very important to provide as much information as possible on the drugs consumers take," said Searle Chairman Sheldon Gilgore.@@@@1@22@@oe@2-2-2013
21874001@unknown@formal@none@1@S@Bond prices rambled yesterday as investors kept close watch on the stock market and worried about a wave of new supply.@@@@1@21@@oe@2-2-2013
21874002@unknown@formal@none@1@S@Early yesterday, bonds rose as investors rushed to buy Treasury securities on the prospect that stocks would plummet in the aftermath of the massive California earthquake.@@@@1@26@@oe@2-2-2013
21874003@unknown@formal@none@1@S@For example, some securities analysts warned that stocks of certain insurance companies, which face massive damage claims, would get hit hard.@@@@1@21@@oe@2-2-2013
21874004@unknown@formal@none@1@S@But when the Dow Jones Industrial Average rose instead, bonds drifted lower.@@@@1@12@@oe@2-2-2013
21874005@unknown@formal@none@1@S@With stocks not a major focus, "we're waiting for the next guiding light," said Brian J. Fabbri, chief economist at Midland Montagu Securities Inc.@@@@1@24@@oe@2-2-2013
21874006@unknown@formal@none@1@S@"If the stock market tremors are behind us, then the bond market will go back to looking at the next batch of economic numbers to determine" where interest rates are heading.@@@@1@31@@oe@2-2-2013
21874007@unknown@formal@none@1@S@The Treasury's benchmark 30-year bond, which jumped 3/8 point, or about $3.75 for each $1,000 face amount, during the first hour of trading, ended little changed.@@@@1@26@@oe@2-2-2013
21874008@unknown@formal@none@1@S@Interest rates barely budged from Tuesday's levels.@@@@1@7@@oe@2-2-2013
21874009@unknown@formal@none@1@S@Most junk bonds, which have been battered in recent weeks, continued a slow recuperation and ended unchanged to slightly higher.@@@@1@20@@oe@2-2-2013
21874010@unknown@formal@none@1@S@But some so-called high-quality junk issues fell as some mutual funds sold their most liquid issues to raise cash.@@@@1@19@@oe@2-2-2013
21874011@unknown@formal@none@1@S@RJR Holdings Capital Corp.'s 14.7% bonds due 2009 fell one point.@@@@1@11@@oe@2-2-2013
21874012@unknown@formal@none@1@S@Other RJR issues fell between 1/2 point and 1 1/2 point.@@@@1@11@@oe@2-2-2013
21874013@unknown@formal@none@1@S@In the latest sign of how difficult it is to place certain junk bonds, Continental Airlines said it was forced to scale back the size of its latest offering.@@@@1@29@@oe@2-2-2013
21874014@unknown@formal@none@1@S@Continental, a unit of Texas Air Corp., slashed the size of its note offering from $150 million to $71 million.@@@@1@20@@oe@2-2-2013
21874015@unknown@formal@none@1@S@The move had been widely expected.@@@@1@6@@oe@2-2-2013
21874016@unknown@formal@none@1@S@In the multipart offering, the company sold a portion of secured notes but shelved all the unsecured notes.@@@@1@18@@oe@2-2-2013
21874017@unknown@formal@none@1@S@A Continental spokeswoman said the notes may be offered at a later date.@@@@1@13@@oe@2-2-2013
21874018@unknown@formal@none@1@S@"This was not a do-or-die deal," she said.@@@@1@8@@oe@2-2-2013
21874019@unknown@formal@none@1@S@"I think this is a market that required some level of security.@@@@1@12@@oe@2-2-2013
21874020@unknown@formal@none@1@S@It did not make sense to offer unsecured paper in an unsettling market."@@@@1@13@@oe@2-2-2013
21874021@unknown@formal@none@1@S@Investors have been speculating for weeks about the market's ability to place the $7 billion to $10 billion of new junk bonds scheduled to be sold by year end.@@@@1@29@@oe@2-2-2013
21874022@unknown@formal@none@1@S@Supply troubles were also on the minds of Treasury investors yesterday, who worried about the flood of new government securities coming next week.@@@@1@23@@oe@2-2-2013
21874023@unknown@formal@none@1@S@"We're being bombarded by new Treasury and agency debt offerings," said William Sullivan Jr., director of money-market research at Dean Witter Reynolds Inc.@@@@1@23@@oe@2-2-2013
21874024@unknown@formal@none@1@S@"The market is concerned about its ability to underwrite all this debt at current levels."@@@@1@15@@oe@2-2-2013
21874025@unknown@formal@none@1@S@In addition to the $15.6 billion of Treasury bills to be sold at next week's regular Monday auction, the government will sell $10 billion of new two-year Treasury notes.@@@@1@29@@oe@2-2-2013
21874026@unknown@formal@none@1@S@And Resolution Funding Corp. said late yesterday that it will sell $4.5 billion of 30-year bonds Wednesday.@@@@1@17@@oe@2-2-2013
21874027@unknown@formal@none@1@S@Refcorp is the financing unit of Resolution Trust Corp., a new government agency created to rescue the nation's troubled thrifts.@@@@1@20@@oe@2-2-2013
21874028@unknown@formal@none@1@S@Its securities have been dubbed "bailout bonds" by traders.@@@@1@9@@oe@2-2-2013
21874029@unknown@formal@none@1@S@In when-issued trading, the two-year Treasurys had a yield of about 7.88%.@@@@1@12@@oe@2-2-2013
21874030@unknown@formal@none@1@S@In the municipal market, all eyes were on California debt as investors tried to gauge the financial ramifications of Tuesday's earthquake.@@@@1@21@@oe@2-2-2013
21874031@unknown@formal@none@1@S@But traders said the quake had only a minor impact on the trading of California state and local municipal debt.@@@@1@20@@oe@2-2-2013
21874032@unknown@formal@none@1@S@"There are certain bonds traders refer to as `earthquake' bonds because the (issuers) are on top of the San Andreas fault," said Zane Mann, editor of the California Municipal Bond Advisor, a newsletter for investors.@@@@1@35@@oe@2-2-2013
21874033@unknown@formal@none@1@S@Since those bonds already pay a slightly higher yield, an extra premium for the earthquake risk, they weren't materially affected.@@@@1@20@@oe@2-2-2013
21874034@unknown@formal@none@1@S@But some bond market analysts said that could quickly change if property casualty insurance companies scramble to sell portions of their municipal portfolios to raise cash to pay damage claims.@@@@1@30@@oe@2-2-2013
21874035@unknown@formal@none@1@S@"Insurance companies will foot a substantial amount of the bill to reconstruct San Francisco," said Charles Lieberman, chief economist at Manufacturers Hanover Securities Corp.@@@@1@24@@oe@2-2-2013
21874036@unknown@formal@none@1@S@He also expects the performance of municipals to lag Treasurys as California is forced to issue new debt over time to repair public facilities.@@@@1@24@@oe@2-2-2013
21874037@unknown@formal@none@1@S@A report issued late yesterday by Standard & Poor's Corp. concluded the quake won't cause "wide-scale credit deterioration" for issuers and debt issues in the 12-county area of Northern California affected by the quake.@@@@1@34@@oe@2-2-2013
21874038@unknown@formal@none@1@S@Treasury Securities@@@@1@2@@oe@2-2-2013
21874039@unknown@formal@none@1@S@Treasury bonds ended narrowly mixed in quiet trading.@@@@1@8@@oe@2-2-2013
21874040@unknown@formal@none@1@S@The benchmark 30-year bond ended at a price of 100 29/32 to yield 8.03%, compared with 100 28/32 to yield 8.04% Tuesday.@@@@1@22@@oe@2-2-2013
21874041@unknown@formal@none@1@S@The latest 10-year notes were quoted late at a price of 99 26/32 to yield 8%, compared with 99 25/32 to yield 8.01%.@@@@1@23@@oe@2-2-2013
21874042@unknown@formal@none@1@S@Short-term rates were little changed.@@@@1@5@@oe@2-2-2013
21874043@unknown@formal@none@1@S@Corporate Issues@@@@1@2@@oe@2-2-2013
21874044@unknown@formal@none@1@S@Investment-grade corporate bonds ended 1/4 point lower.@@@@1@7@@oe@2-2-2013
21874045@unknown@formal@none@1@S@The Continental junk bond offering, underwritten by Drexel Burnham Lambert Inc., was the only new issue priced yesterday.@@@@1@18@@oe@2-2-2013
21874046@unknown@formal@none@1@S@In the four-part offering, the $71 million of secured equipment certificates was priced to yield 13.75% to 15.75%.@@@@1@18@@oe@2-2-2013
21874047@unknown@formal@none@1@S@Municipals@@@@1@1@@oe@2-2-2013
21874048@unknown@formal@none@1@S@Municipal bonds ended about 1/8 to 3/8 point lower, hurt by the circulation of two "bid-wanted" lists totaling $655 million.@@@@1@20@@oe@2-2-2013
21874049@unknown@formal@none@1@S@Chemical Securities Inc. is acting as agent for the seller.@@@@1@10@@oe@2-2-2013
21874050@unknown@formal@none@1@S@Meanwhile, some California issues were down a touch more than the broad market, but traders said there hadn't been much investor selling because of the quake.@@@@1@26@@oe@2-2-2013
21874051@unknown@formal@none@1@S@But New York City general obligation bonds came under selling pressure.@@@@1@11@@oe@2-2-2013
21874052@unknown@formal@none@1@S@Traders said a steady stream of bonds was put up for sale yesterday, pushing yields for longer maturities up 0.05 percentage point.@@@@1@22@@oe@2-2-2013
21874053@unknown@formal@none@1@S@Traders said investors were reacting to recent negative news on the city's finances and are nervous ahead of the Nov. 7 election.@@@@1@22@@oe@2-2-2013
21874054@unknown@formal@none@1@S@Washington, D.C., topped the competitive slate yesterday with a sale of $200 million of general obligation tax revenue anticipation notes.@@@@1@20@@oe@2-2-2013
21874055@unknown@formal@none@1@S@In late trading, New Jersey Turnpike Authority's 7.20% issue of 2018 was off 1/4 point at 98 bid.@@@@1@18@@oe@2-2-2013
21874056@unknown@formal@none@1@S@The yield was 7.35%, up 0.01 percentage point.@@@@1@8@@oe@2-2-2013
21874057@unknown@formal@none@1@S@Mortgage-Backed Securities@@@@1@2@@oe@2-2-2013
21874058@unknown@formal@none@1@S@Mortgage securities ended little changed after light dealings.@@@@1@8@@oe@2-2-2013
21874059@unknown@formal@none@1@S@There was no appreciable market impact from the California earthquake.@@@@1@10@@oe@2-2-2013
21874060@unknown@formal@none@1@S@Dealers said there was some concern that insurance companies might be forced to sell mortgage securities to help pay earthquake-related claims, but no selling materialized.@@@@1@25@@oe@2-2-2013
21874061@unknown@formal@none@1@S@The Federal Home Loan Mortgage Corp. and Federal National Mortgage Association, two dominant issuers of mortgage securities, have a sizable amount of California home loans in their mortgagebacked pools.@@@@1@29@@oe@2-2-2013
21874062@unknown@formal@none@1@S@But their potential quake exposure is seen as small given that they require a financial cushion on all the loans they purchase.@@@@1@22@@oe@2-2-2013
21874063@unknown@formal@none@1@S@And because Northern California home prices are so high, loans from the region often are too large to be included in Freddie Mac and Fannie Mae pools.@@@@1@27@@oe@2-2-2013
21874064@unknown@formal@none@1@S@Meanwhile, Government National Mortgage Association 9% securities for November delivery ended at 97 29/32, unchanged.@@@@1@15@@oe@2-2-2013
21874065@unknown@formal@none@1@S@Freddie Mac 9% securities were at 97 4/32, down 1/32.@@@@1@10@@oe@2-2-2013
21874066@unknown@formal@none@1@S@In derivative markets, Fannie Mae issued two $400 million real estate mortgage investment conduits backed by its 9% securities.@@@@1@19@@oe@2-2-2013
21874067@unknown@formal@none@1@S@Foreign Bonds@@@@1@2@@oe@2-2-2013
21874068@unknown@formal@none@1@S@British government bonds, or gilts, ended moderately lower as equities there recovered from Tuesday's drop.@@@@1@15@@oe@2-2-2013
21874069@unknown@formal@none@1@S@The Treasury's 11 3/4% bond due 2003/2007 fell 11/32 to 111 31/32 to yield 10.08%, while the 12% notes due 1995 were down 7/32 to 103 22/32 to yield 11.04%.@@@@1@30@@oe@2-2-2013
21874070@unknown@formal@none@1@S@Traders said today may be an anxious day for the market.@@@@1@11@@oe@2-2-2013
21874071@unknown@formal@none@1@S@Several key economic figures are due out and Chancellor of the Exchequer Nigel Lawson is scheduled to give the annual "Mansion House" address to the financial community.@@@@1@27@@oe@2-2-2013
21874072@unknown@formal@none@1@S@The chancellor sometimes has used the occasion to announce major economic policy changes.@@@@1@13@@oe@2-2-2013
21874073@unknown@formal@none@1@S@Economists don't expect any such changes in this year's address, given Mr. Lawson's apparent reluctance to adjust policy currently.@@@@1@19@@oe@2-2-2013
21874074@unknown@formal@none@1@S@Meanwhile, Japanese government bonds retreated in quiet trading, stymied by the dollar's resiliency.@@@@1@13@@oe@2-2-2013
21874075@unknown@formal@none@1@S@Japan's bellwether 4.6% bond due 1998 ended on brokers' screens at 95.75 to yield 5.315%.@@@@1@15@@oe@2-2-2013
21874076@unknown@formal@none@1@S@In West Germany, investors stayed on the sidelines as the bond market searched for direction.@@@@1@15@@oe@2-2-2013
21874077@unknown@formal@none@1@S@The government's 7% issue due October 1999 fell 0.05 point to 99.90 to yield 7.01%.@@@@1@15@@oe@2-2-2013
21875001@unknown@formal@none@1@S@The Berlin Wall still stands.@@@@1@5@@oe@2-2-2013
21875002@unknown@formal@none@1@S@But the man who built it has fallen.@@@@1@8@@oe@2-2-2013
21875003@unknown@formal@none@1@S@East Germany yesterday removed Erich Honecker, one of the staunchest holdouts against the reform rumbling through the Communist world, in an effort to win back the confidence of its increasingly rebellious citizens.@@@@1@32@@oe@2-2-2013
21875004@unknown@formal@none@1@S@But while it was a move that stunned the East bloc, it hardly ushers in an era of reform -- at least anytime soon.@@@@1@24@@oe@2-2-2013
21875005@unknown@formal@none@1@S@For the Politburo replaced Mr. Honecker, who had led East Germany for 18 years and before that headed its security apparatus, with a man cut of the same cloth: Egon Krenz, the most recent internal-security chief and a longtime Honecker protege.@@@@1@41@@oe@2-2-2013
21875006@unknown@formal@none@1@S@East Germany, it is clear, is no Poland, where the Communist Party now shares power with the democratically elected Solidarity union.@@@@1@21@@oe@2-2-2013
21875007@unknown@formal@none@1@S@Nor is it a Hungary, where yesterday the parliament approved constitutional changes meant to help turn the Communist nation into a multiparty democracy.@@@@1@23@@oe@2-2-2013
21875008@unknown@formal@none@1@S@Still, any change in East Germany has enormous implications, for both East and West.@@@@1@14@@oe@2-2-2013
21875009@unknown@formal@none@1@S@It raises the long-cherished hopes of many Germans for reunification -- a prospect that almost equally alarms political leaders in Moscow, Washington and Western Europe.@@@@1@25@@oe@2-2-2013
21875010@unknown@formal@none@1@S@Mr. Krenz, 52, was named the new party chief just minutes after the Party's 163-member Central Committee convened in East Berlin.@@@@1@21@@oe@2-2-2013
21875011@unknown@formal@none@1@S@Although the East German news agency ADN claimed Mr. Honecker had asked to be relieved of his duties for "health reasons," West German government sources said the 26-man Politburo had asked for his resignation at a separate meeting late Tuesday.@@@@1@40@@oe@2-2-2013
21875012@unknown@formal@none@1@S@(Mr. Honecker was twice hospitalized this summer for a gall bladder ailment and his physical condition has been the subject of intense speculation in the Western media.)@@@@1@27@@oe@2-2-2013
21875013@unknown@formal@none@1@S@ADN said Mr. Honecker, a hard-line Stalinist who in 1961 supervised the construction of the Berlin Wall, also was relieved of his title as head of state and his position as chief of the military.@@@@1@35@@oe@2-2-2013
21875014@unknown@formal@none@1@S@Mr. Krenz is expected to be formally named to all three positions once the nation's parliament convenes later this week.@@@@1@20@@oe@2-2-2013
21875015@unknown@formal@none@1@S@Mr. Honecker's ignoble fall culminates nearly two decades of iron-handed leadership during which Mr. Honecker, now 77 years old, built East Germany into the most economically advanced nation in the Soviet bloc.@@@@1@32@@oe@2-2-2013
21875016@unknown@formal@none@1@S@His grip on power unraveled this summer as thousands of his countrymen, dissatisfied by the harshness of his rule, fled to the West.@@@@1@23@@oe@2-2-2013
21875017@unknown@formal@none@1@S@Thousands more have taken to the streets in the last month in East Germany's largest wave of domestic unrest since a workers' uprising in 1953.@@@@1@25@@oe@2-2-2013
21875018@unknown@formal@none@1@S@In Washington, the Bush administration took a characteristically cautious and skeptical view of the leadership change.@@@@1@16@@oe@2-2-2013
21875019@unknown@formal@none@1@S@The official line was to offer warmer ties to Mr. Krenz, provided he is willing to institute reforms.@@@@1@18@@oe@2-2-2013
21875020@unknown@formal@none@1@S@But U.S. officials have strong doubts that he is a reformer.@@@@1@11@@oe@2-2-2013
21875021@unknown@formal@none@1@S@President Bush told reporters: "Whether that {the leadership change} reflects a change in East-West relations, I don't think so.@@@@1@19@@oe@2-2-2013
21875022@unknown@formal@none@1@S@Because Mr. Krenz has been very much in accord with the policies of Honecker."@@@@1@14@@oe@2-2-2013
21875023@unknown@formal@none@1@S@One top U.S. expert on East Germany added: "There is no clear-cut champion of reform, that we know of, in the East German leadership."@@@@1@24@@oe@2-2-2013
21875024@unknown@formal@none@1@S@Indeed, Mr. Krenz said on East German television last night that there will be no sharing of power with pro-democracy groups.@@@@1@21@@oe@2-2-2013
21875025@unknown@formal@none@1@S@He said, while dialogue is important, enough forums already exist "in which different interests" can express themselves.@@@@1@17@@oe@2-2-2013
21875026@unknown@formal@none@1@S@The removal of Mr. Honecker was apparently the result of bitter infighting within the top ranks of the Communist party.@@@@1@20@@oe@2-2-2013
21875027@unknown@formal@none@1@S@According to West German government sources, Mr. Honecker and several senior Politburo members fought over the last week to delay any decisions about a leadership change.@@@@1@26@@oe@2-2-2013
21875028@unknown@formal@none@1@S@But, with public demonstrations in the country growing in size and intensity, Mr. Honecker and several key allies lost out in this battle, officials say.@@@@1@25@@oe@2-2-2013
21875029@unknown@formal@none@1@S@Those allies included Politburo members Guenter Mittag, who has long headed economic affairs, and Joachim Hermann, chief of information policy.@@@@1@20@@oe@2-2-2013
21875030@unknown@formal@none@1@S@Both men were also relieved of their duties yesterday.@@@@1@9@@oe@2-2-2013
21875031@unknown@formal@none@1@S@Although other resignations may follow, it's still not clear to what extent the change in party personnel will alter the government's resistance to fundamental change.@@@@1@25@@oe@2-2-2013
21875032@unknown@formal@none@1@S@Clearly, the central figure in this process is Egon Krenz.@@@@1@10@@oe@2-2-2013
21875033@unknown@formal@none@1@S@Born in 1937 in a Baltic Sea town now part of Poland, he was eight years old when World War II ended.@@@@1@22@@oe@2-2-2013
21875034@unknown@formal@none@1@S@Like West German Chancellor Helmut Kohl, he represents the postwar generation that has grown up during Germany's division.@@@@1@18@@oe@2-2-2013
21875035@unknown@formal@none@1@S@Since joining the Politburo in 1983 as its youngest member, Mr. Krenz had acquired the nickname "crown prince," a reference to the widely held view that he was the hand-picked successor to Mr. Honecker.@@@@1@34@@oe@2-2-2013
21875036@unknown@formal@none@1@S@In fact, the two men have had strikingly similar career paths, both having served as chief of internal security before their rise to the top party position.@@@@1@27@@oe@2-2-2013
21875037@unknown@formal@none@1@S@Moreover, both men have hewn to a similar hard-line philosophy.@@@@1@10@@oe@2-2-2013
21875038@unknown@formal@none@1@S@Notably, one of Mr. Krenz's few official visits overseas came a few months ago, when he visited China after the massacre in Beijing.@@@@1@23@@oe@2-2-2013
21875039@unknown@formal@none@1@S@He later defended the Chinese government's response during a separate visit to West Germany.@@@@1@14@@oe@2-2-2013
21875040@unknown@formal@none@1@S@East German Protestantism in particular fears Mr. Krenz, in part because of an incident in January 1988 when he was believed to have ordered the arrest of hundreds of dissidents who had sought refuge in the Church.@@@@1@37@@oe@2-2-2013
21875041@unknown@formal@none@1@S@However, Mr. Krenz also has a reputation for being politically savvy.@@@@1@11@@oe@2-2-2013
21875042@unknown@formal@none@1@S@His shrewd ability to read the shifting popular mood in East Germany is best illustrated by his apparent break with his old mentor, Mr. Honecker.@@@@1@25@@oe@2-2-2013
21875043@unknown@formal@none@1@S@Indeed, according to West German government sources, he was one of the leaders in the power struggle that toppled Mr. Honecker.@@@@1@21@@oe@2-2-2013
21875044@unknown@formal@none@1@S@In recent days, Mr. Krenz has sought to project a kinder image.@@@@1@12@@oe@2-2-2013
21875045@unknown@formal@none@1@S@According to a report widely circulating in East Berlin, it was Mr. Krenz who ordered police to stop using excessive force against demonstrators in Leipzig.@@@@1@25@@oe@2-2-2013
21875046@unknown@formal@none@1@S@"He doesn't want to have the image of the gun man," says Fred Oldenburg, an expert at the Bonn-sponsored Institute of East European and International Studies in Cologne.@@@@1@28@@oe@2-2-2013
21875047@unknown@formal@none@1@S@"He's not a reformer -- he wants to have the image of a reformer."@@@@1@14@@oe@2-2-2013
21875048@unknown@formal@none@1@S@As part of his image polishing, Mr. Krenz is expected to take modest steps toward reform to rebuild confidence among the people and reassert the party's authority.@@@@1@27@@oe@2-2-2013
21875049@unknown@formal@none@1@S@Besides sacking other senior Politburo officials who allied themselves with Mr. Honecker, Mr. Krenz could loosen controls on the news media, free up travel restrictions, and establish a dialogue with various dissident groups.@@@@1@33@@oe@2-2-2013
21875050@unknown@formal@none@1@S@But will it be enough?@@@@1@5@@oe@2-2-2013
21875051@unknown@formal@none@1@S@West German government officials and Western analysts are doubtful.@@@@1@9@@oe@2-2-2013
21875052@unknown@formal@none@1@S@"He doesn't signify what people want, so the unrest will go on," Mr. Oldenburg predicts.@@@@1@15@@oe@2-2-2013
21875053@unknown@formal@none@1@S@At the same time, the expectations of the East German people are great and will continue to grow.@@@@1@18@@oe@2-2-2013
21875054@unknown@formal@none@1@S@Says one West German official: "What's necessary now is the process of democratization.@@@@1@13@@oe@2-2-2013
21875055@unknown@formal@none@1@S@Not just that people are being heard but that their interests are being taken seriously."@@@@1@15@@oe@2-2-2013
21875056@unknown@formal@none@1@S@Chancellor Kohl, meanwhile, has invited Mr. Krenz to open discussions with Bonn on a wide range of subjects.@@@@1@18@@oe@2-2-2013
21875057@unknown@formal@none@1@S@Reports in the West German press, citing sources in East Germany, suggest Mr. Krenz may serve only as a bridge between Mr. Honecker and a genuine reform leader.@@@@1@28@@oe@2-2-2013
21875058@unknown@formal@none@1@S@Adding to that speculation is Mr. Krenz's reputation as a heavy drinker, who is said to also suffer from diabetes.@@@@1@20@@oe@2-2-2013
21875059@unknown@formal@none@1@S@"This is a dynamic process and we're experiencing the first step," the Bonn official adds.@@@@1@15@@oe@2-2-2013
21875060@unknown@formal@none@1@S@The selection of Mr. Krenz may also disappoint Moscow.@@@@1@9@@oe@2-2-2013
21875061@unknown@formal@none@1@S@Soviet leader Mikhail Gorbachev has pressed hard for a change in East Germany's rigid stance.@@@@1@15@@oe@2-2-2013
21875062@unknown@formal@none@1@S@Two reform-minded party leaders favored by Moscow as possible successors to Mr. Honecker, Dresden party secretary Hans Modrow and Politburo member Guenter Schabowski, were passed over.@@@@1@26@@oe@2-2-2013
21875063@unknown@formal@none@1@S@If Mr. Krenz sticks to rigid policies the pressure from the Soviet Union could intensify.@@@@1@15@@oe@2-2-2013
21875064@unknown@formal@none@1@S@In Moscow, Mr. Gorbachev sent Mr. Krenz a congratulatory telegram that appeared to urge the new leadership to heed growing calls for change.@@@@1@23@@oe@2-2-2013
21875065@unknown@formal@none@1@S@According to the Soviet news agency Tass, "Gorbachev expressed the conviction that the leadership of the Socialist Unity Party of {East} Germany, being sensitive to the demands of the time, . . . will find solutions to complicated problems the GDR {German Democratic Republic} encountered."@@@@1@45@@oe@2-2-2013
21875066@unknown@formal@none@1@S@A force of younger pro-Gorbachev members in the East German bureaucracy has for some time been pushing for relaxation within their country.@@@@1@22@@oe@2-2-2013
21875067@unknown@formal@none@1@S@The older generation has been torn between a fear of tampering with the status quo and a fear of what might happen if they didn't.@@@@1@25@@oe@2-2-2013
21875068@unknown@formal@none@1@S@From the perspective of East Germany's old guard, reforms that smack of capitalism and Western-style democracy could eliminate their country's reason for being.@@@@1@23@@oe@2-2-2013
21875069@unknown@formal@none@1@S@Unlike the other nations of the bloc, East Germany is a creature of the Cold War.@@@@1@16@@oe@2-2-2013
21875070@unknown@formal@none@1@S@Erasing the differences still dividing Europe, and the vast international reordering that implies, won't endanger the statehood of a Poland or a Hungary.@@@@1@23@@oe@2-2-2013
21875071@unknown@formal@none@1@S@But it could ultimately lead to German reunification and the disappearance of East Germany from the map.@@@@1@17@@oe@2-2-2013
21875072@unknown@formal@none@1@S@Which is what the Old Guard fears.@@@@1@7@@oe@2-2-2013
21875073@unknown@formal@none@1@S@"I'm sure they'll formulate a reform that will be a recipe for the GDR's future as a separately identifiable state," says Michael Simmons, a British journalist whose book on East Germany, entitled "The Unloved Country," was published this month.@@@@1@39@@oe@2-2-2013
21875074@unknown@formal@none@1@S@Up to now, that recipe has consisted of a dogged effort by former leader Walter Ulbricht to establish the country's international legitimacy, followed by Mr. Honecker's campaign to build the East bloc's only successful Stalinist economy into a consumer paradise.@@@@1@40@@oe@2-2-2013
21875075@unknown@formal@none@1@S@Neither man achieved perfection.@@@@1@4@@oe@2-2-2013
21875076@unknown@formal@none@1@S@Early in 1987, Mr. Honecker and his team stopped paying thin compliments to Mr. Gorbachev and joined with Romania in rejecting any necessity for adjustments in their systems.@@@@1@28@@oe@2-2-2013
21875077@unknown@formal@none@1@S@The less-self-confident Czechoslovaks and Bulgarians, in contrast, declared their intentions to reform, while doing nothing concrete about it.@@@@1@18@@oe@2-2-2013
21875078@unknown@formal@none@1@S@The East German media soon began presenting Mr. Gorbachev's speeches only as sketchy summaries, and giving space to his opponents.@@@@1@20@@oe@2-2-2013
21875079@unknown@formal@none@1@S@By late 1988, they were banning Soviet publications.@@@@1@8@@oe@2-2-2013
21875080@unknown@formal@none@1@S@The country abandoned its former devotion to socialist unity and took to insisting instead that each country in the bloc ought to travel its own road.@@@@1@26@@oe@2-2-2013
21875081@unknown@formal@none@1@S@Mr. Honecker spoke of "generally valid objective laws of socialism" and left no room for debate.@@@@1@16@@oe@2-2-2013
21875082@unknown@formal@none@1@S@With this year's dislocations in China and the Soviet Union, and the drive to democracy in Poland and Hungary, the East German leadership grew still more defensive.@@@@1@27@@oe@2-2-2013
21875083@unknown@formal@none@1@S@Politburo member Joachim Herrman confessed to a "grave concern" over Hungarian democracy.@@@@1@12@@oe@2-2-2013
21875084@unknown@formal@none@1@S@"Under the banner that proclaims the `renewal of socialism,'" he said, "forces are at work that are striving to eliminate socialism."@@@@1@21@@oe@2-2-2013
21875085@unknown@formal@none@1@S@Some loyal voices, in and out of the East German Communist party, saw the nation's unrest coming.@@@@1@17@@oe@2-2-2013
21875086@unknown@formal@none@1@S@The first signs were economic.@@@@1@5@@oe@2-2-2013
21875087@unknown@formal@none@1@S@Despite heavily subsidized consumer industries, East Germans have for years watched the West pull farther out ahead.@@@@1@17@@oe@2-2-2013
21875088@unknown@formal@none@1@S@In 1988, for the first time, economic growth came to a dead stop.@@@@1@13@@oe@2-2-2013
21875089@unknown@formal@none@1@S@Gingerly, some economists began to blame central planning.@@@@1@8@@oe@2-2-2013
21875090@unknown@formal@none@1@S@Some writers in theoretical journals even raised the notion of introducing democracy, at least in the workplace.@@@@1@17@@oe@2-2-2013
21875091@unknown@formal@none@1@S@By summer, an independent reform movement was saying out loud what it had only whispered before.@@@@1@16@@oe@2-2-2013
21875092@unknown@formal@none@1@S@But they are stalwart socialists.@@@@1@5@@oe@2-2-2013
21875093@unknown@formal@none@1@S@Their proclaimed purpose is to cleanse East Germany of its Stalinist muck, not to merge with the West.@@@@1@18@@oe@2-2-2013
21875094@unknown@formal@none@1@S@One of their pastors has envisioned a "new utopia" of "creative socialism."@@@@1@12@@oe@2-2-2013
21875095@unknown@formal@none@1@S@Meanwhile, the man Mr. Krenz replaces has left an indelible mark on East German society.@@@@1@15@@oe@2-2-2013
21875096@unknown@formal@none@1@S@Imprisoned by the Nazis during World War II for his political beliefs, Mr. Honecker typified the postwar generation of committed Communist leaders in Eastern Europe who took their cues from Moscow.@@@@1@31@@oe@2-2-2013
21875097@unknown@formal@none@1@S@He was a "socialist warrior" who felt rankled by West Germany's enormous postwar prosperity and the Bonn government's steadfast refusal to recognize the legitimacy of his state.@@@@1@27@@oe@2-2-2013
21875098@unknown@formal@none@1@S@Finally, during his first and only state visit to Bonn two years ago, he won some measure of the recognition he had long sought.@@@@1@24@@oe@2-2-2013
21875099@unknown@formal@none@1@S@But ultimately he was undone by forces unleashed by his own comrade, Mr. Gorbachev.@@@@1@14@@oe@2-2-2013
21875100@unknown@formal@none@1@S@Mr. Honecker's removal "was bound to happen," says one aide to Chancellor Kohl.@@@@1@13@@oe@2-2-2013
21875101@unknown@formal@none@1@S@"It was only a matter of time."@@@@1@7@@oe@2-2-2013
21875102@unknown@formal@none@1@S@The European Community Commission increased its forecast for economic growth in the EC in 1989 to 3.5%, slightly higher than its June projection of 3.25%.@@@@1@25@@oe@2-2-2013
21875103@unknown@formal@none@1@S@In its annual economic report for 1989-1990, the commission also projected 1990 gross domestic product growth for the 12 EC members at 3%.@@@@1@23@@oe@2-2-2013
21875104@unknown@formal@none@1@S@EC inflation was seen at 4.8% in 1989, higher than 1988's 3.6% price rise.@@@@1@14@@oe@2-2-2013
21875105@unknown@formal@none@1@S@However, inflation for 1990 was seen slowing to 4.5%.@@@@1@9@@oe@2-2-2013
21875106@unknown@formal@none@1@S@Leading EC growth forecasts in 1989 was Ireland, seen growing 5% at constant prices.@@@@1@14@@oe@2-2-2013
21875107@unknown@formal@none@1@S@Slower growth countries included Greece, at 2.5%, the U.K., at 2.25%, and Denmark, at 1.75%.@@@@1@15@@oe@2-2-2013
21875108@unknown@formal@none@1@S@Inflation is expected to be highest in Greece, where it is projected at 14.25%, and Portugal, at 13%.@@@@1@18@@oe@2-2-2013
21875109@unknown@formal@none@1@S@At the other end of the spectrum, West German inflation was forecast at 3% in 1989 and 2.75% in 1990.@@@@1@20@@oe@2-2-2013
21875110@unknown@formal@none@1@S@Nestle Korea Ltd. opened a coffee and non-dairy-creamer plant in Chongju, South Korea.@@@@1@13@@oe@2-2-2013
21875111@unknown@formal@none@1@S@An official at Nestle Korea, a 50-50 joint venture between Nestle S.A. and the Doosan Group, said the new facility will manufacture all types of soluble, roasted and ground coffee, coffee mix and nondairy coffee creamer.@@@@1@36@@oe@2-2-2013
21875112@unknown@formal@none@1@S@The South Korean coffee market, consisting mostly of instant coffee, was estimated at about 100 billion won ($150.7 million) last year.@@@@1@21@@oe@2-2-2013
21875113@unknown@formal@none@1@S@Brands made by the Kraft General Foods unit of Philip Morris Cos. had about 95% of the market share.@@@@1@19@@oe@2-2-2013
21875114@unknown@formal@none@1@S@Nestle currently has only about a 2% share with its Taster's Choice coffee.@@@@1@13@@oe@2-2-2013
21875115@unknown@formal@none@1@S@Poland plans to start negotiations soon on purchasing natural gas from Iran, the official Islamic Republic News Agency reported.@@@@1@19@@oe@2-2-2013
21875116@unknown@formal@none@1@S@The agency said Polish Prime Minister Tadeusz Mazowiecki told Iranian Deputy Foreign Minister Mahmoud Vaezi of Poland's willingess to purchase the gas during Mr. Vaezi's current visit to Warsaw.@@@@1@29@@oe@2-2-2013
21875117@unknown@formal@none@1@S@The agency didn't mention possible quantities and didn't say how the gas would be delivered.@@@@1@15@@oe@2-2-2013
21875118@unknown@formal@none@1@S@A Chinese official harshly criticized plans to close a British naval base in downtown Hong Kong.@@@@1@16@@oe@2-2-2013
21875119@unknown@formal@none@1@S@Hong Kong officials announced last week that the base will be relocated to a small island to allow downtown redevelopment.@@@@1@20@@oe@2-2-2013
21875120@unknown@formal@none@1@S@But Beijing wants to use the base for the People's Liberation Army after 1997, when the territory returns to Chinese sovereignty.@@@@1@21@@oe@2-2-2013
21875121@unknown@formal@none@1@S@Ke Zaishuo, head of China's delegation to a Chinese-British Liaison Committee on Hong Kong, accused Britain of trying to impose a fait accompli and said, "This is something we cannot accept."@@@@1@31@@oe@2-2-2013
21875122@unknown@formal@none@1@S@The Israeli and Soviet national airlines have reached preliminary agreement for launching the first direct flights between Tel Aviv and Moscow, a spokesman for the Israeli airline, El Al, said.@@@@1@30@@oe@2-2-2013
21875123@unknown@formal@none@1@S@El Al director Rafi Har-Lev and top officials of the Soviet Union's Aeroflot negotiated a preliminary pact in Moscow this week, the spokesman said.@@@@1@24@@oe@2-2-2013
21875124@unknown@formal@none@1@S@He added that concluding the deal requires approval by the governments of both countries, which have never had direct air links.@@@@1@21@@oe@2-2-2013
21875125@unknown@formal@none@1@S@The chairman and a director of one of the Republic of Singapore's leading property companies, City Development Ltd., or CDL, were charged yesterday with criminal breach of trust of some 800,000 Singapore dollars (about US$409,000).@@@@1@35@@oe@2-2-2013
21875126@unknown@formal@none@1@S@Kwek Hong Png, chairman of CDL, and director Quek Leng Chye were arrested by the republic's Corrupt Practices Investigation Bureau Tuesday night.@@@@1@22@@oe@2-2-2013
21875127@unknown@formal@none@1@S@In addition to abetting in the alleged criminal breach of trust, Kwek Hong Png was also charged with dishonestly receiving S$500,000 that had been stolen.@@@@1@25@@oe@2-2-2013
21875128@unknown@formal@none@1@S@Both men were charged in a subordinate court and released on bail of S$1 million.@@@@1@15@@oe@2-2-2013
21875129@unknown@formal@none@1@S@The charges are the culmination of weeks of rumors concerning CDL that have depressed the company's share price and to a lesser extent the shares of all companies owned by CDL's controlling Quek family, brokers in Singapore say.@@@@1@38@@oe@2-2-2013
21875130@unknown@formal@none@1@S@The Queks control the Hong Leong Group, which has widespread interests in manufacturing, property and finance in both Malaysia and Singapore.@@@@1@21@@oe@2-2-2013
21875131@unknown@formal@none@1@S@News of the arrest and charging of the two men helped to push prices on the Singapore Stock market sharply lower in early trading yesterday, but brokers said that the market and CDL shares recovered once it became apparent the charges were limited to the two men personally.@@@@1@48@@oe@2-2-2013
21875132@unknown@formal@none@1@S@One of the two British companies still making hard toilet paper stopped production of it.@@@@1@15@@oe@2-2-2013
21875133@unknown@formal@none@1@S@British Tissues decided to do away with its hard paper after a major customer, British Rail, switched to softer tissues for train bathrooms. . . .@@@@1@26@@oe@2-2-2013
21875134@unknown@formal@none@1@S@Peasants in Inner Mongolia have partly dismantled a 20-mile section of China's famed Great Wall, the official People's Daily said.@@@@1@20@@oe@2-2-2013
21875135@unknown@formal@none@1@S@The paper said the bricks were used to build homes and furnaces and, as a result, the wall "is in terrible shape.@@@@1@22@@oe@2-2-2013
21876001@unknown@formal@none@1@S@Wednesday, October 18, 1989@@@@1@4@@oe@2-2-2013
21876002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
21876003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
21876004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
21876005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 15/16% high, 8 5/8% low, 8 3/4% near closing bid, 8 7/8% offered.@@@@1@16@@oe@2-2-2013
21876006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
21876007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
21876008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
21876009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
21876010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
21876011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
21876012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.45% 30 to 44 days; 8.25% 45 to 74 days; 8.30% 75 to 99 days; 7.75% 100 to 179 days; 7.50% 180 to 270 days.@@@@1@34@@oe@2-2-2013
21876013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.55% 30 days; 8.45% 60 days; 8.375% 90 days.@@@@1@24@@oe@2-2-2013
21876014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.05% one month; 8.02% two months; 8% three months; 7.98% six months; 7.95% one year.@@@@1@18@@oe@2-2-2013
21876015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
21876016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
21876017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.53% one month; 8.48% three months; 8.40% six months.@@@@1@15@@oe@2-2-2013
21876018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.42% 30 days; 8.30% 60 days; 8.28% 90 days; 8.15% 120 days; 8.05% 150 days; 7.95% 180 days.@@@@1@20@@oe@2-2-2013
21876019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
21876020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 11/16% to 8 9/16% one month; 8 5/8% to 8 1/2% two months; 8 5/8% to 8 1/2% three months; 8 9/16% to 8 7/16% four months; 8 1/2% to 8 3/8% five months; 8 1/2% to 8 3/8% six months.@@@@1@45@@oe@2-2-2013
21876021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 11/16% one month; 8 11/16% three months; 8 1/2% six months; 8 1/2% one year.@@@@1@21@@oe@2-2-2013
21876022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
21876023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 8.50%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
21876024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
21876025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 16, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.37% 13 weeks; 7.42% 26 weeks.@@@@1@35@@oe@2-2-2013
21876026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac):@@@@1@7@@oe@2-2-2013
21876027@unknown@formal@none@1@S@Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@11@@oe@2-2-2013
21876028@unknown@formal@none@1@S@9.88%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
21876029@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21876030@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae):@@@@1@6@@oe@2-2-2013
21876031@unknown@formal@none@1@S@Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par) 9.83%, standard conventional fixed-rate mortgages; 8.70%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@28@@oe@2-2-2013
21876032@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21876033@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.50%.@@@@1@6@@oe@2-2-2013
21876034@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
21877001@unknown@formal@none@1@S@A grand jury here indicted Norton Co.'s former director of advanced-ceramics research, charging him with interstate transportation of stolen property.@@@@1@20@@oe@2-2-2013
21877002@unknown@formal@none@1@S@Norton and General Electric Co. last month filed a lawsuit against the former research manager, Chien-Min Sung, charging him with stealing trade secrets.@@@@1@23@@oe@2-2-2013
21877003@unknown@formal@none@1@S@Mr. Sung formerly worked at General Electric in research on synthetic diamonds.@@@@1@12@@oe@2-2-2013
21877004@unknown@formal@none@1@S@The criminal charges brought against him involved GE technology, according the court documents.@@@@1@13@@oe@2-2-2013
21877005@unknown@formal@none@1@S@If convicted, he could be imprisoned for up to 10 years and fined $250,000.@@@@1@14@@oe@2-2-2013
21877006@unknown@formal@none@1@S@Mr. Sung couldn't be reached for comment.@@@@1@7@@oe@2-2-2013
21877007@unknown@formal@none@1@S@He earlier denied the allegations against him in the lawsuit by Norton and GE.@@@@1@14@@oe@2-2-2013
21877008@unknown@formal@none@1@S@Norton makes sandpaper and other abrasives, diamond tools, specialty plastics and ceramics.@@@@1@12@@oe@2-2-2013
21878001@unknown@formal@none@1@S@As the citizens of San Francisco and surrounding communities began assessing the damage from Tuesday's devastating earthquake, NBC News began assessing the damage from what some said was a failure to provide comprehensive coverage in the earthquake's initial moments.@@@@1@39@@oe@2-2-2013
21878002@unknown@formal@none@1@S@"In terms of coverage, it was a disaster equal to the earthquakes," said Eric Premner, president for broadcasting of King Broadcasting Co., which owns the NBC affiliate in Seattle, Wash.@@@@1@30@@oe@2-2-2013
21878003@unknown@formal@none@1@S@While rival ABC News outstripped the competition in live coverage of the event by sheer luck -- the network was broadcasting the World Series from Candlestick Park when the quake struck -- NBC News was unable to get its signal out of San Francisco for the first hour after the quake.@@@@1@51@@oe@2-2-2013
21878004@unknown@formal@none@1@S@"I have to attribute the lackluster performance to a natural disaster," said Mr. Premner.@@@@1@14@@oe@2-2-2013
21878005@unknown@formal@none@1@S@"So before I start to be really critical of NBC, I would like to know more about what happened."@@@@1@19@@oe@2-2-2013
21878006@unknown@formal@none@1@S@There were no complaints from affiliates of CBS Inc. and Cable News Network, a unit of Turner Broadcasting System Inc.@@@@1@20@@oe@2-2-2013
21878007@unknown@formal@none@1@S@But that was not the case at NBC News, which has been dogged with the image of not being aggressive on major breaking stories.@@@@1@24@@oe@2-2-2013
21878008@unknown@formal@none@1@S@Last summer, the affiliates bitterly complained to network executives about the poor coverage of the student uprising in China.@@@@1@19@@oe@2-2-2013
21878009@unknown@formal@none@1@S@"I was not pleased with the slow start, and neither was NBC News," said Guy Hempel, general manager of NBC affiliate WAVE in Louisville, Ky.@@@@1@25@@oe@2-2-2013
21878010@unknown@formal@none@1@S@A spokesman for National Broadcasting Co., a unit of General Electric Co., said the network was "looking into what happened."@@@@1@20@@oe@2-2-2013
21878011@unknown@formal@none@1@S@The stations said they were pleased with the extended coverage yesterday, including a special five-hour edition of "Today."@@@@1@18@@oe@2-2-2013
21878012@unknown@formal@none@1@S@Don Browne, director of news at NBC News, said in an interview that "we couldn't get a signal out of San Francisco.@@@@1@22@@oe@2-2-2013
21878013@unknown@formal@none@1@S@We were out of the box.@@@@1@6@@oe@2-2-2013
21878014@unknown@formal@none@1@S@It was horrible.@@@@1@3@@oe@2-2-2013
21878015@unknown@formal@none@1@S@The comment we're hearing is that we were slow out of the box, but beat everyone else in the stretch."@@@@1@20@@oe@2-2-2013
21878016@unknown@formal@none@1@S@NBC broadcast throughout the entire night and did not go off the air until noon yesterday.@@@@1@16@@oe@2-2-2013
21878017@unknown@formal@none@1@S@The quake postponed the third and fourth games of the World Series.@@@@1@12@@oe@2-2-2013
21878018@unknown@formal@none@1@S@In place of the games, ABC said it planned to broadcast next week's episodes of its prime-time Wednesday and Thursday lineups, except for a one-hour special on the earthquake at 10 p.m. last night.@@@@1@34@@oe@2-2-2013
21878019@unknown@formal@none@1@S@The series is scheduled to resume Tuesday evening in San Francisco.@@@@1@11@@oe@2-2-2013
21878020@unknown@formal@none@1@S@"There are no commercials to make up for since we're going to eventually broadcast the World Series," said a network spokesman.@@@@1@21@@oe@2-2-2013
21879001@unknown@formal@none@1@S@Pinnacle West Capital Corp. said it suspended indefinitely its common stock dividend and reported a 91% plunge in third-quarter net income.@@@@1@21@@oe@2-2-2013
21879002@unknown@formal@none@1@S@The announcement, made after the close of trading, caught analysts by surprise.@@@@1@12@@oe@2-2-2013
21879003@unknown@formal@none@1@S@The company closed at $12 a share, down 62.5 cents, in composite trading on the New York Stock Exchange.@@@@1@19@@oe@2-2-2013
21879004@unknown@formal@none@1@S@Pinnacle West slashed its quarterly dividend to 40 cents per share from 70 cents in December, saying at the time that it believed the new, lower dividend was "sustainable."@@@@1@29@@oe@2-2-2013
21879005@unknown@formal@none@1@S@A company spokesman said the decision to eliminate the dividend resulted from a quarterly appraisal and that circumstances had changed since the December announcement.@@@@1@24@@oe@2-2-2013
21879006@unknown@formal@none@1@S@He declined to elaborate.@@@@1@4@@oe@2-2-2013
21879007@unknown@formal@none@1@S@Edward J. Tirello Jr., an analyst at Shearson Lehman Hutton Inc., speculated that the sudden dividend elimination presages an expensive agreement with thrift regulators over the company's insolvent MeraBank savings and loan unit.@@@@1@33@@oe@2-2-2013
21879008@unknown@formal@none@1@S@Analysts have estimated that Pinnacle West may have to inject between $300 million and $400 million into the MeraBank unit before turning the thrift over to federal regulators.@@@@1@28@@oe@2-2-2013
21879009@unknown@formal@none@1@S@The latest financial results at the troubled utility and thrift holding company, based in Phoenix, Ariz., reflect continuing problems at MeraBank and losses in real-estate, venture-capital and uranium-mining operations.@@@@1@29@@oe@2-2-2013
21879010@unknown@formal@none@1@S@Third-quarter net income slid to $5.1 million, or six cents a share, from $56 million, or 65 cents, a year earlier.@@@@1@21@@oe@2-2-2013
21879011@unknown@formal@none@1@S@Utility operations, the only company unit operating in the black in the latest period, had a 26% drop in profit, to $86.3 million, largely as a result of outages at the company's huge Palo Verde nuclear facility and the cost of purchased replacement power.@@@@1@44@@oe@2-2-2013
21879012@unknown@formal@none@1@S@In other operations, losses at MeraBank totaled $85.7 million in the latest quarter, compared with a $2.5 million profit a year earlier.@@@@1@22@@oe@2-2-2013
21879013@unknown@formal@none@1@S@The latest quarter includes a $42.7 million addition to loan-loss reserves.@@@@1@11@@oe@2-2-2013
21879014@unknown@formal@none@1@S@As recently as August, the company said it didn't foresee a need for substantial additions to reserves.@@@@1@17@@oe@2-2-2013
21879015@unknown@formal@none@1@S@Pinnacle's SunCor Development Co. real-estate unit's loss narrowed to $13.8 million from $78.4 million.@@@@1@14@@oe@2-2-2013
21879016@unknown@formal@none@1@S@The latest period included a $9 million write-down on undeveloped land, while the year-earlier period included a $46 million reserve for real-estate losses.@@@@1@23@@oe@2-2-2013
21879017@unknown@formal@none@1@S@Losses at its Malapai Resources Co. uranium-mining unit narrowed to $3.4 million from $18 million a year ago, which included a $9 million write-down of utility inventories.@@@@1@27@@oe@2-2-2013
21879018@unknown@formal@none@1@S@Losses at El Dorado Investment Co., the venture-capital operation, widened to $6.8 million from $425,000 a year earlier.@@@@1@18@@oe@2-2-2013
21879019@unknown@formal@none@1@S@The latest quarter included a $6.6 million write-down of investments.@@@@1@10@@oe@2-2-2013
21880001@unknown@formal@none@1@S@Equitec Financial Group said it will ask as many as 100,000 investors in 12 of its public real-estate limited partnerships to give approval to rolling them up into a new master limited partnership.@@@@1@33@@oe@2-2-2013
21880002@unknown@formal@none@1@S@Under the proposal by Equitec, a financially troubled real-estate syndicator, New York-based Hallwood Group Inc. would replace Equitec as the newly formed master limited partnership's general partner and manager.@@@@1@29@@oe@2-2-2013
21880003@unknown@formal@none@1@S@Shares of the new partnership would trade on an exchange like a stock.@@@@1@13@@oe@2-2-2013
21880004@unknown@formal@none@1@S@Hallwood is a merchant bank whose activities include the ownership, management and financial restructuring of shopping centers, office buildings, apartments and other real estate.@@@@1@24@@oe@2-2-2013
21880005@unknown@formal@none@1@S@In a statement, Equitec Chairman Richard L. Saalfeld said the transfer will benefit both the company and investors in the 12 limited partnerships included in the proposed rollup.@@@@1@28@@oe@2-2-2013
21880006@unknown@formal@none@1@S@While he didn't describe the partnerships' financial condition, he said their operations "continue to drain the resources of Equitec."@@@@1@19@@oe@2-2-2013
21880007@unknown@formal@none@1@S@Equitec posted a $3.3 million net loss in the second quarter on $11.8 million of revenue, compared with a net loss of $12.9 million in the year-earlier period on revenue of $9.1 million.@@@@1@33@@oe@2-2-2013
21880008@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Equitec closed at $2.625 a share, unchanged.@@@@1@14@@oe@2-2-2013
21880009@unknown@formal@none@1@S@Because of Tuesday's earthquake in Northern California, company officials couldn't immediately be reached for additional comment.@@@@1@16@@oe@2-2-2013
21880010@unknown@formal@none@1@S@A spokesman for Hallwood said the 12 limited partnerships, which were marketed by brokerage firms and financial planners between 1979 and 1984, raised several hundred million dollars from investors.@@@@1@29@@oe@2-2-2013
21881001@unknown@formal@none@1@S@With airline deals in a tailspin, legendary Wall Street trader Michael Steinhardt could have trouble parachuting out of USAir Group, traders say.@@@@1@22@@oe@2-2-2013
21881002@unknown@formal@none@1@S@Only a week ago, when airline buy-out fever was already winding down, Mr. Steinhardt was engaged in a duel with USAir.@@@@1@21@@oe@2-2-2013
21881003@unknown@formal@none@1@S@He was threatening to take over the carrier, after spending an estimated $167 million to build an 8.4% USAir stake for his investment clients.@@@@1@24@@oe@2-2-2013
21881004@unknown@formal@none@1@S@The would-be raider even hired an investment banker to give teeth to his takeover threat, which was widely interpreted as an effort to flush out an acquirer for USAir, or for his own stake.@@@@1@34@@oe@2-2-2013
21881005@unknown@formal@none@1@S@In fighting USAir, Mr. Steinhardt was pitted against another investor, billionnaire Warren Buffett, who bought into USAir to help fend off Mr. Steinhardt.@@@@1@23@@oe@2-2-2013
21881006@unknown@formal@none@1@S@Mr. Buffett's firm, Berkshire Hathaway, holds a much bigger stake in the carrier than Mr. Steinhardt's firm, Steinhardt Partners.@@@@1@19@@oe@2-2-2013
21881007@unknown@formal@none@1@S@Now, in the wake of UAL's troubles in financing its buy-out, the airline raiding game has been grounded.@@@@1@18@@oe@2-2-2013
21881008@unknown@formal@none@1@S@Instead of hoping to sell his USAir stake at analysts' estimated buy-out price of $80 a share, Mr. Steinhardt is stuck with roughly 3.7 million USAir shares that cost him $45, on average, but yesterday closed at 40 1/2, up 1/4, in New York Stock Exchange composite trading.@@@@1@48@@oe@2-2-2013
21881009@unknown@formal@none@1@S@"It doesn't make sense to parachute out at this price," Mr. Steinhardt says, though he has stopped his takeover talk and now commends USAir managers' "operating skills."@@@@1@27@@oe@2-2-2013
21881010@unknown@formal@none@1@S@At the current price, the USAir holding represents 9% of all the assets that Mr. Steinhardt manages.@@@@1@17@@oe@2-2-2013
21881011@unknown@formal@none@1@S@A week ago, USAir stock briefly soared above 52 after a report in USA Today that Mr. Steinhardt might launch a hostile bid for the carrier, though takeover speculators say they were skeptical.@@@@1@33@@oe@2-2-2013
21881012@unknown@formal@none@1@S@"If USAir is worth 80 as a takeover and the stock went to 52, the market was saying Steinhardt's presence wasn't worth anything, in terms of getting a deal done," says a veteran takeover speculator.@@@@1@35@@oe@2-2-2013
21881013@unknown@formal@none@1@S@Traders say this all goes to show that even the smartest money manager can get infected with crowd passions.@@@@1@19@@oe@2-2-2013
21881014@unknown@formal@none@1@S@In trying to raid USAir, Mr. Steinhardt abandoned his usual role as a passive investor, and ran into snags.@@@@1@19@@oe@2-2-2013
21881015@unknown@formal@none@1@S@Moreover, unlike Mr. Buffett, who often holds big stakes in companies for years, Mr. Steinhardt hasn't in the past done much long-term investing.@@@@1@23@@oe@2-2-2013
21881016@unknown@formal@none@1@S@Mr. Steinhardt, who runs about $1.7 billion for Steinhardt Partners, made his name as a gunslinging trader, moving in and out of stocks with agility -- enriching himself and his investment clients.@@@@1@32@@oe@2-2-2013
21881017@unknown@formal@none@1@S@Meanwhile, his big losses, for instance in 1987's crash, generally have been trading losses.@@@@1@14@@oe@2-2-2013
21881018@unknown@formal@none@1@S@So, some see a special irony in the fact that Mr. Steinhardt, the trader, now is encumbered with a massive, illiquid airline holding.@@@@1@23@@oe@2-2-2013
21881019@unknown@formal@none@1@S@Analysts say USAir stock might lose four or five points if the Steinhardt stake was dumped all at once.@@@@1@19@@oe@2-2-2013
21881020@unknown@formal@none@1@S@As a result, Mr. Steinhardt must reconcile himself to selling USAir at a loss, or to holding the shares as an old-fashioned investment.@@@@1@23@@oe@2-2-2013
21881021@unknown@formal@none@1@S@"Long-term investing -- that's not Steinhardt's style," chuckles an investor who once worked at Steinhardt Partners.@@@@1@16@@oe@2-2-2013
21881022@unknown@formal@none@1@S@"He doesn't usually risk that much unless he thinks he has an ace in the hole," adds another Steinhardt Partners alumnus.@@@@1@21@@oe@2-2-2013
21881023@unknown@formal@none@1@S@In recent days, traders say USAir has been buying its own shares, as part of a program to retire about eight million USAir shares, though the carrier won't discuss its buy-back program.@@@@1@32@@oe@2-2-2013
21881024@unknown@formal@none@1@S@If USAir stepped up its share purchases, that might be a way for Mr. Steinhardt to get out, says Timothy Pettee, a Merrill Lynch analyst.@@@@1@25@@oe@2-2-2013
21881025@unknown@formal@none@1@S@But USAir might not want to help Mr. Steinhardt, he adds.@@@@1@11@@oe@2-2-2013
21881026@unknown@formal@none@1@S@In 1987, USAir Chairman Edwin Colodny stonewalled when Trans World Airlines Chairman Carl Icahn threatened to take over the carrier.@@@@1@20@@oe@2-2-2013
21881027@unknown@formal@none@1@S@Mr. Icahn, a much more practiced raider than Mr. Steinhardt, eventually sold a big USAir stake at a tiny profit through Bear, Stearns.@@@@1@23@@oe@2-2-2013
21881028@unknown@formal@none@1@S@Mr. Steinhardt also could take that route.@@@@1@7@@oe@2-2-2013
21881029@unknown@formal@none@1@S@He confers big trading commissions on Wall Street firms.@@@@1@9@@oe@2-2-2013
21881030@unknown@formal@none@1@S@However, with airline stocks cratering, he might not get a very good price for his shares, traders say.@@@@1@18@@oe@2-2-2013
21881031@unknown@formal@none@1@S@Especially galling for Mr. Steinhardt, say people close to him, is that USAir's Mr. Colodny won't even take his telephone calls.@@@@1@21@@oe@2-2-2013
21881032@unknown@formal@none@1@S@While USAir isn't considered absolutely takeover-proof, its defenses, including the sale in August of a 12% stake in the company to Mr. Buffett's Berkshire Hathaway, are pretty strong.@@@@1@28@@oe@2-2-2013
21881033@unknown@formal@none@1@S@USAir's deal with Mr. Buffett "wasn't exactly a shining example of shareholder democracy," Mr. Steinhardt says.@@@@1@16@@oe@2-2-2013
21881034@unknown@formal@none@1@S@Since last April, the investor has made seven so-called 13D filings in USAir, as he bought and sold the company's stock.@@@@1@21@@oe@2-2-2013
21881035@unknown@formal@none@1@S@Such disclosures of big holdings often are used by raiders to try to scare a company's managers, and to stir interest in the stock.@@@@1@24@@oe@2-2-2013
21881036@unknown@formal@none@1@S@But of course it would be highly unusual for an investment fund such as Steinhardt Partners to take over a company.@@@@1@21@@oe@2-2-2013
21881037@unknown@formal@none@1@S@USAir and Mr. Buffett won't talk about Mr. Steinhardt at all.@@@@1@11@@oe@2-2-2013
21881038@unknown@formal@none@1@S@Analysts say USAir has great promise.@@@@1@6@@oe@2-2-2013
21881039@unknown@formal@none@1@S@By the second half of 1990, USAir stock could hit 60, says Helane Becker of Shearson Lehman Hutton.@@@@1@18@@oe@2-2-2013
21881040@unknown@formal@none@1@S@She thinks traders should buy the stock if it tumbles to 35.@@@@1@12@@oe@2-2-2013
21881041@unknown@formal@none@1@S@But meanwhile, USAir is expected to show losses or lackluster profit for several quarters as it tries to digest Piedmont Airlines, which it acquired.@@@@1@24@@oe@2-2-2013
21881042@unknown@formal@none@1@S@Moreover, some investors think a recession or renewed airfare wars will pummel airline stocks in coming months.@@@@1@17@@oe@2-2-2013
21881043@unknown@formal@none@1@S@However, Mr. Steinhardt says he's "comfortable holding USAir as an investment."@@@@1@11@@oe@2-2-2013
21881044@unknown@formal@none@1@S@While he has bought and sold some USAir shares in recent days, he says that contrary to rumors, he hasn't tried to unload his holding.@@@@1@25@@oe@2-2-2013
21881045@unknown@formal@none@1@S@Mr. Steinhardt adds that he bought USAir stock earlier this year as "part of a fundamental investment in the airline group."@@@@1@21@@oe@2-2-2013
21881046@unknown@formal@none@1@S@In 1989, Mr. Steinhardt says he made money trading in Texas Air, AMR and UAL.@@@@1@15@@oe@2-2-2013
21881047@unknown@formal@none@1@S@Overall, his investments so far this year are showing gains of about 20%, he adds.@@@@1@15@@oe@2-2-2013
21881048@unknown@formal@none@1@S@Does Mr. Steinhardt regret his incursion into the takeover-threat game?@@@@1@10@@oe@2-2-2013
21881049@unknown@formal@none@1@S@People close to the investor say that was an experiment he is unlikely to repeat.@@@@1@15@@oe@2-2-2013
21881050@unknown@formal@none@1@S@"I don't think you'll find I'm making a radical change in my traditional investment style," Mr. Steinhardt says.@@@@1@18@@oe@2-2-2013
21882001@unknown@formal@none@1@S@Addington Resources Inc. said it called for redemption on Nov. 21 its $25.8 million outstanding of 8% convertible subordinated debentures due 2013.@@@@1@22@@oe@2-2-2013
21882002@unknown@formal@none@1@S@The debentures were issued in the face amount of $46 million on July 11, 1988, the Ashland, Ky., coal mining, water transportation and construction company said.@@@@1@26@@oe@2-2-2013
21882003@unknown@formal@none@1@S@The company said the redemption is permitted because the price of Addington's stock has equaled or exceeded $19.60 for 20 consecutive trading days, a condition set in the terms of the debentures.@@@@1@32@@oe@2-2-2013
21882004@unknown@formal@none@1@S@Debenture holders are expected to convert most of the debentures into common because the value of the stock received in a conversion would exceed the $1,103.11 redemption price.@@@@1@28@@oe@2-2-2013
21883001@unknown@formal@none@1@S@Commodore International Ltd. said it will report a loss for the first quarter ended Sept. 30 because sales of personal computers for the home market remained weak in some major countries.@@@@1@31@@oe@2-2-2013
21883002@unknown@formal@none@1@S@That will mark the second consecutive quarterly loss for Commodore and will raise additional questions about whether it can sustain the turnaround it had seemed to be engineering.@@@@1@28@@oe@2-2-2013
21883003@unknown@formal@none@1@S@Commodore, West Chester, Pa., had said in August that it was consolidating manufacturing to cut costs and expected to be profitable in the fiscal first quarter.@@@@1@26@@oe@2-2-2013
21883004@unknown@formal@none@1@S@Commodore said that its announcement is based on preliminary information and that the situation could look different by the time final results are announced early next month.@@@@1@27@@oe@2-2-2013
21883005@unknown@formal@none@1@S@In fact, Commodore's fiscal fourth-quarter loss was $2 million narrower than Commodore had expected a few weeks after the quarter closed.@@@@1@21@@oe@2-2-2013
21883006@unknown@formal@none@1@S@Still, even results approaching break-even would mark a sharp weakening compared with fiscal 1989 first-quarter earnings of $9.6 million, or 30 cents a share, on sales of $200.2 million.@@@@1@29@@oe@2-2-2013
21883007@unknown@formal@none@1@S@Reflecting concerns about Commodore's outlook, its stock has plunged more than 50% since May, closing yesterday unchanged at $8.875 a share in composite trading on the New York Stock Exchange.@@@@1@30@@oe@2-2-2013
21883008@unknown@formal@none@1@S@The price can be expected to erode further, because the loss estimate came after the market closed.@@@@1@17@@oe@2-2-2013
21883009@unknown@formal@none@1@S@Commodore has seemed to be setting the stage recently for progress in the U.S., where its personal-computer sales have been so dismal for years that Commodore is close to dropping off research firms' market-share charts.@@@@1@35@@oe@2-2-2013
21883010@unknown@formal@none@1@S@Commodore has assembled an experienced management team, it has persuaded many more dealers to carry its products and it has unleashed a slick advertising campaign.@@@@1@25@@oe@2-2-2013
21883011@unknown@formal@none@1@S@But those represent long-term strategies that probably won't succeed quickly, even if they turn out to be the right ones.@@@@1@20@@oe@2-2-2013
21883012@unknown@formal@none@1@S@In the meantime, the strategies will increase expenses.@@@@1@8@@oe@2-2-2013
21883013@unknown@formal@none@1@S@Commodore had been counting on its consumer business to stay sufficiently healthy to support its efforts in other areas -- mainly in getting schools and businesses to use its Amiga, which has slick graphics yet has been slow to catch on because it isn't compatible with Apple Computer Inc. or International Business Machines Corp. hardware.@@@@1@55@@oe@2-2-2013
21883014@unknown@formal@none@1@S@But sales to consumers have become difficult during the past several months, even in West Germany, which has been by far Commodore's strongest market.@@@@1@24@@oe@2-2-2013
21883015@unknown@formal@none@1@S@The Commodore 64 and 128, mainly used for children's educational software and games, had surprised market researchers by continuing to produce strong sales even though other low-profit personal computers now operate several times as fast and have much more memory.@@@@1@40@@oe@2-2-2013
21883016@unknown@formal@none@1@S@Commodore has said it expects sales to rebound, but market researchers have said that sales of the low-end products may finally be trailing off.@@@@1@24@@oe@2-2-2013
21884001@unknown@formal@none@1@S@Stock prices closed slightly higher in the first routine trading day since Friday's big plunge.@@@@1@15@@oe@2-2-2013
21884002@unknown@formal@none@1@S@Some issues were affected by Tuesday's devastating earthquake in the San Francisco area.@@@@1@13@@oe@2-2-2013
21884003@unknown@formal@none@1@S@Activity continued to slow from the hectic pace set during the market's plunge late Friday and its rebound Monday, as players began to set their sights on events coming later this week.@@@@1@32@@oe@2-2-2013
21884004@unknown@formal@none@1@S@The Dow Jones Industrial Average drifted through the session within a trading range of about 30 points before closing with a gain of 4.92 at 2643.65.@@@@1@26@@oe@2-2-2013
21884005@unknown@formal@none@1@S@Broader averages also posted modest gains.@@@@1@6@@oe@2-2-2013
21884006@unknown@formal@none@1@S@Standard & Poor's 500-Stock Index rose 0.60 to 341.76, the Dow Jones Equity Market Index rose 0.71 to 320.54 and the New York Stock Exchange Composite Index gained 0.43 to 189.32.@@@@1@31@@oe@2-2-2013
21884007@unknown@formal@none@1@S@Some 822 New York Stock Exchange issues advanced in price, while 668 declined.@@@@1@13@@oe@2-2-2013
21884008@unknown@formal@none@1@S@But the Dow Jones Transportation Average went down for the seventh consecutive session, due largely to further selling in UAL.@@@@1@20@@oe@2-2-2013
21884009@unknown@formal@none@1@S@The average dropped 6.40 to 1247.87 and has now lost 21.7% of its value since the losing streak began Oct. 10.@@@@1@21@@oe@2-2-2013
21884010@unknown@formal@none@1@S@Big Board volume dropped to 166,900,000 shares, in line with the level of trading over the past few weeks, from 224.1 million Tuesday.@@@@1@23@@oe@2-2-2013
21884011@unknown@formal@none@1@S@Traders cited anticipation of the consumer price report for September, due today, and tomorrow's expiration of October stock-index futures and options as major factors in the slowdown.@@@@1@27@@oe@2-2-2013
21884012@unknown@formal@none@1@S@In addition, activity at a number of San Francisco-based brokerage houses was curtailed as a result of the earthquake, which knocked out power lines and telephone service throughout the Bay area.@@@@1@31@@oe@2-2-2013
21884013@unknown@formal@none@1@S@Stocks retreated to session lows just after the opening amid worries about the market impact of the quake, but quickly snapped back to higher levels with the help of futures-related program buying.@@@@1@32@@oe@2-2-2013
21884014@unknown@formal@none@1@S@The early move essentially established the day's trading range, and traders said they saw little of the program activity that has battered the market recently.@@@@1@25@@oe@2-2-2013
21884015@unknown@formal@none@1@S@"I didn't expect it to be this quiet.@@@@1@8@@oe@2-2-2013
21884016@unknown@formal@none@1@S@I expected to see more volatility as some of the institutions who were spooked last Friday did some selling," said Raymond F. DeVoe, a market strategist at Legg Mason Wood Walker, Baltimore.@@@@1@32@@oe@2-2-2013
21884017@unknown@formal@none@1@S@Mr. DeVoe said he expects prices to show some renewed instability over the next few sessions as institutions re-evaluate their stance toward the market in light of its decline.@@@@1@29@@oe@2-2-2013
21884018@unknown@formal@none@1@S@"I would suspect that a lot of investment committees are looking into whether (they) want to be in stocks at all," he said.@@@@1@23@@oe@2-2-2013
21884019@unknown@formal@none@1@S@Insurance stocks were sold at the opening amid concerns about the level of damage claims the companies would receive as a result of the earthquake.@@@@1@25@@oe@2-2-2013
21884020@unknown@formal@none@1@S@But those issues recovered quickly and turned higher because of expectations that the quake and the recent Hurricane Hugo would set the stage for an increase in premium rates.@@@@1@29@@oe@2-2-2013
21884021@unknown@formal@none@1@S@Issues of insurance brokers were especially strong.@@@@1@7@@oe@2-2-2013
21884022@unknown@formal@none@1@S@Marsh & McLennan advanced 3 1/8 to 75 7/8, Alexander & Alexander Services climbed 2 to 32 and Corroon & Black firmed 1 7/8 to 37 1/2.@@@@1@27@@oe@2-2-2013
21884023@unknown@formal@none@1@S@Elsewhere in the group, General Re rose 2 3/4 to 86 1/2, American International Group gained 3 1/4 to 102 5/8, Aetna Life & Casualty added 2 3/8 to 59 1/2 and Cigna advanced 7/8 to 62 1/2.@@@@1@38@@oe@2-2-2013
21884024@unknown@formal@none@1@S@Loews, the parent of CNA Financial, rose 1 3/8 to 123 1/8.@@@@1@12@@oe@2-2-2013
21884025@unknown@formal@none@1@S@Companies in the construction, engineering and building-products sectors were among other beneficiaries of earthquake-related buying.@@@@1@15@@oe@2-2-2013
21884026@unknown@formal@none@1@S@The heavy-construction sector was the session's best performer among Dow Jones industry groups; Fluor rose 3/4 to 33 3/8, Morrison Knudsen gained 2 1/4 to 44 1/8, Foster Wheeler added 3/8 to 18 1/4 and Ameron climbed 2 3/8 to 39 3/4.@@@@1@42@@oe@2-2-2013
21884027@unknown@formal@none@1@S@Among engineering firms, CRS Sirrine rose 5/8 to 34 1/4 on the Big Board and four others rallied on the American Stock Exchange: Jacobs Engineering Group, which gained 1 1/8 to 25 3/8, Greiner Engineering, which rose 3 1/2 to 22 1/2; Michael Baker, which added 1 1/4 to 15 1/4, and American Science & Engineering, up 1/2 to 8 1/2.@@@@1@61@@oe@2-2-2013
21884028@unknown@formal@none@1@S@Within the building-materials group, Georgia-Pacific climbed 1 1/4 to 58 and Louisiana-Pacific added 1 to 40 3/4 after Merrill Lynch recommended the forest-products issues.@@@@1@24@@oe@2-2-2013
21884029@unknown@formal@none@1@S@CalMat advanced 2 3/4 to 28 3/4, Lone Star Industries gained 1 3/4 to 29 1/4, Lafarge rose 1 to 19 1/2, Southdown added 5/8 to 24 5/8 and Eljer Industries rose 1 1/4 to 24 7/8.@@@@1@37@@oe@2-2-2013
21884030@unknown@formal@none@1@S@Pacific Gas & Electric fell 3/8 to 19 5/8 in Big Board composite trading of 1.7 million shares and Pacific Telesis Group slipped 5/8 to 44 5/8 as the companies worked to restore service to areas affected by the quake.@@@@1@40@@oe@2-2-2013
21884031@unknown@formal@none@1@S@Chevron added 1 to 65.@@@@1@5@@oe@2-2-2013
21884032@unknown@formal@none@1@S@The company, based in San Francisco, said it had to shut down a crude-oil pipeline in the Bay area to check for leaks but added that its refinery in nearby Richmond, Calif., was undamaged.@@@@1@34@@oe@2-2-2013
21884033@unknown@formal@none@1@S@Other companies based in the area include Hewlett-Packard, which rose 1/4 to 49; National Semiconductor, which went up 1/4 to 7 5/8, and Genentech, which eased 1/4 to 19 5/8.@@@@1@30@@oe@2-2-2013
21884034@unknown@formal@none@1@S@None of the firms reported any major damage to facilities as a result of the quake.@@@@1@16@@oe@2-2-2013
21884035@unknown@formal@none@1@S@BankAmerica eased 1/2 to 31 7/8 and Wells Fargo lost 1/2 to 81 1/2; the two bank holding companies, based in San Francisco, were forced to curtail some operations due to the temblor.@@@@1@33@@oe@2-2-2013
21884036@unknown@formal@none@1@S@Among California savings-and-loan stocks, H.F. Ahmanson eased 3/8 to 22 1/4, CalFed slid 3/4 to 24 1/8, Great Western Financial dropped 1/2 to 21 1/4 and Golden West Financial fell 5/8 to 29 1/4.@@@@1@34@@oe@2-2-2013
21884037@unknown@formal@none@1@S@UAL, the parent company of United Airlines, swung within a 14-point range during the course of the session before closing at 191 3/4, down 6 1/4, on 2.3 million shares.@@@@1@30@@oe@2-2-2013
21884038@unknown@formal@none@1@S@British Airways, a member of the group that had offered $300 a share for UAL in a leveraged buy-out, said it had yet to receive a revised proposal and it was "in no way committed" to the completion of a bid.@@@@1@41@@oe@2-2-2013
21884039@unknown@formal@none@1@S@Separately, investor Marvin Davis withdrew his backup $300-a-share takeover offer.@@@@1@10@@oe@2-2-2013
21884040@unknown@formal@none@1@S@While UAL faltered, AMR, the parent of American Airlines, pulled out of its recent nosedive by rising 3/4 to 74.@@@@1@20@@oe@2-2-2013
21884041@unknown@formal@none@1@S@The stock had been on the decline since the financing for the UAL buy-out fell through on Friday and developer Donald Trump subsequently withdrew a takeover offer of $120 a share for AMR.@@@@1@33@@oe@2-2-2013
21884042@unknown@formal@none@1@S@Also, AMR was the most active Big Board issue; 2.8 million shares changed hands.@@@@1@14@@oe@2-2-2013
21884043@unknown@formal@none@1@S@GTE added 1 1/4 to 65 3/8.@@@@1@7@@oe@2-2-2013
21884044@unknown@formal@none@1@S@PaineWebber repeated a buy recommendation on the stock and raised its 1990 earnings estimate by 35 cents a share, to $5.10.@@@@1@21@@oe@2-2-2013
21884045@unknown@formal@none@1@S@Colgate-Palmolive advanced 1 5/8 to 63 after saying it was comfortable with analysts' projections that third-quarter net income from continuing operations would be between 95 cents and $1.05 a share, up from 69 cents a year ago.@@@@1@37@@oe@2-2-2013
21884046@unknown@formal@none@1@S@Springs Industries dropped 1 3/8 to 36.@@@@1@7@@oe@2-2-2013
21884047@unknown@formal@none@1@S@Analysts at several brokerage firms lowered their 1989 and 1990 earnings estimates on the company after its third-quarter results proved disappointing.@@@@1@21@@oe@2-2-2013
21884048@unknown@formal@none@1@S@Trinova third-quarter loss after a charge for a planned restructuring, which will include the closing or downsizing of about 25% of its plants and a work force cut of about 1,500 over three years.@@@@1@34@@oe@2-2-2013
21884049@unknown@formal@none@1@S@The Amex Market Value Index snapped a five-session losing streak by rising 2.91 to 378.07.@@@@1@15@@oe@2-2-2013
21884050@unknown@formal@none@1@S@Volume totaled 12,500,000 shares.@@@@1@4@@oe@2-2-2013
21884051@unknown@formal@none@1@S@Carnival Cruise Lines Class A rose 1 1/4 to 22 3/8.@@@@1@11@@oe@2-2-2013
21884052@unknown@formal@none@1@S@The company, citing market conditions, postponed a $200 million debt offer.@@@@1@11@@oe@2-2-2013
21885001@unknown@formal@none@1@S@Philip Morris Cos. posted a 20% jump in third-quarter profit on a 45% revenue increase, reflecting strength in the company's cigarette, food and brewing businesses.@@@@1@25@@oe@2-2-2013
21885002@unknown@formal@none@1@S@Net income rose to $748 million, or 81 cents a share, from the year-earlier $621 million, or 67 cents a share.@@@@1@21@@oe@2-2-2013
21885003@unknown@formal@none@1@S@Per-share figures have been adjusted for a 4-for-1 stock split paid earlier this month.@@@@1@14@@oe@2-2-2013
21885004@unknown@formal@none@1@S@The New York-based tobacco, food and beer concern said revenue increased to $11.25 billion from $7.74 billion.@@@@1@17@@oe@2-2-2013
21885005@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Philip Morris closed at $43.375, up 12.5 cents.@@@@1@17@@oe@2-2-2013
21885006@unknown@formal@none@1@S@Philip Morris disclosed little detailed information about performance by major business lines except to say that most, including Philip Morris U.S.A., Kraft General Foods and Miller Brewing Co., posted increased revenues.@@@@1@31@@oe@2-2-2013
21885007@unknown@formal@none@1@S@For the nine months, net increased 4.4% to $2.08 billion, or $2.25 a share, from $2 billion, which included $273 million reflecting the effect of an accounting change.@@@@1@28@@oe@2-2-2013
21886001@unknown@formal@none@1@S@Granges Inc., citing depressed gold prices, said it plans to suspend operations for an indefinite period at its Tartan gold mine in Manitoba.@@@@1@23@@oe@2-2-2013
21886002@unknown@formal@none@1@S@Granges said in Vancouver, British Columbia, that the production halt will be phased in over a 10-week period.@@@@1@18@@oe@2-2-2013
21886003@unknown@formal@none@1@S@Tartan currently produces gold at a cash operating cost of $393 an ounce, which is high by industry standards and $25 or so above the current spot price.@@@@1@28@@oe@2-2-2013
21886004@unknown@formal@none@1@S@Granges said it also plans in the third quarter to write down the carrying value of the Tartan mine by 2.5 million Canadian dollars (US$ 2.12 million), and to write off most of the C$6.3 million carrying value of its Windflower gold property in British Columbia.@@@@1@46@@oe@2-2-2013
21886005@unknown@formal@none@1@S@Granges didn't say what impact the moves would have on total gold output or earnings, and company officials weren't available.@@@@1@20@@oe@2-2-2013
21887001@unknown@formal@none@1@S@Computer Associates International Inc., Garden City, N.Y., and Digital Equipment Corp. said they agreed to jointly develop software to help manage Digital's Vax computers.@@@@1@24@@oe@2-2-2013
21887002@unknown@formal@none@1@S@Computer Associates has carved out a huge business selling such software for use in managing networks of International Business Machines Corp. computers but needs to find new markets if it is to maintain its growth rate of 30% and more each year.@@@@1@42@@oe@2-2-2013
21887003@unknown@formal@none@1@S@The market for system-management software for Digital's hardware is fragmented enough that a giant such as Computer Associates should do well there.@@@@1@22@@oe@2-2-2013
21887004@unknown@formal@none@1@S@At the same time, the market is smaller than the market for IBM-compatible software.@@@@1@14@@oe@2-2-2013
21887005@unknown@formal@none@1@S@For one thing, Digital, Maynard, Mass., has sold fewer machines.@@@@1@10@@oe@2-2-2013
21887006@unknown@formal@none@1@S@In addition, its machines are typically easier to operate, so customers require less assistance from software.@@@@1@16@@oe@2-2-2013
21888001@unknown@formal@none@1@S@Wang Laboratories Inc., Lowell, Mass., beset by declining demand for its computers, reported a $62.1 million, 38-cents-a-share loss in its first quarter ended Sept. 30.@@@@1@25@@oe@2-2-2013
21888002@unknown@formal@none@1@S@Revenue fell 12.7% to $596.8 million from $684 million, although some of the decline was caused by discontinued operations.@@@@1@19@@oe@2-2-2013
21888003@unknown@formal@none@1@S@Wang had previously forecast a loss.@@@@1@6@@oe@2-2-2013
21888004@unknown@formal@none@1@S@The company reiterated that it expects another loss in the second quarter and for the full year, although it expects a profitable fourth quarter.@@@@1@24@@oe@2-2-2013
21888005@unknown@formal@none@1@S@A year ago, Wang had earnings of $13.1 million, or eight cents a share, in its first quarter, including a $3.1 million loss from discontinued operations.@@@@1@26@@oe@2-2-2013
21888006@unknown@formal@none@1@S@The latest period loss included a $12.9 pretax charge for severance payments.@@@@1@12@@oe@2-2-2013
21889001@unknown@formal@none@1@S@Dayton Hudson Corp. said it accepted for purchase seven million common shares at $62.875 each, under the terms of a Dutch auction self-tender offer.@@@@1@24@@oe@2-2-2013
21889002@unknown@formal@none@1@S@The offer expired at 12:01 a.m. yesterday.@@@@1@7@@oe@2-2-2013
21889003@unknown@formal@none@1@S@In a Dutch auction, the buyer sets a price range and holders give a price in that range at which they're willing to sell their shares.@@@@1@26@@oe@2-2-2013
21889004@unknown@formal@none@1@S@The buyer then picks a price and buys shares at that price from holders who offered to sell at that price or lower.@@@@1@23@@oe@2-2-2013
21889005@unknown@formal@none@1@S@Dayton Hudson's repurchase offer, representing about 9% of its common shares outstanding, had established a range of between $60 and $65 for the buy-back.@@@@1@24@@oe@2-2-2013
21889006@unknown@formal@none@1@S@Dayton Hudson said it accepted all odd-lot shares tendered at or below the final $62.875 price; the preliminary proration factor for other shares tendered at or below the final price is 98%.@@@@1@32@@oe@2-2-2013
21889007@unknown@formal@none@1@S@The Minneapolis-based retailer said it expects to pay for the seven million shares next Thursday.@@@@1@15@@oe@2-2-2013
21889008@unknown@formal@none@1@S@Tendered shares not purchased will be returned to holders.@@@@1@9@@oe@2-2-2013
21889009@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Dayton rose $1 to $61.125.@@@@1@12@@oe@2-2-2013
21890001@unknown@formal@none@1@S@Continental Bank Corp.'s third-quarter net income slipped 11% despite a big gain from the sale of the company's London headquarters building.@@@@1@21@@oe@2-2-2013
21890002@unknown@formal@none@1@S@The $55 million gain on the sale was offset by lower interest income, poorer results from foreign-exchange trading and a $9 million loss on the sale of a unit, Securities Settlement Corp.@@@@1@32@@oe@2-2-2013
21890003@unknown@formal@none@1@S@Chicago-based Continental earned $65.2 million, or $1.04 a share, compared with $73.6 million, or $1.19 a share, a year earlier.@@@@1@20@@oe@2-2-2013
21890004@unknown@formal@none@1@S@The 1988 quarter also included one-time gains totaling about $35 million.@@@@1@11@@oe@2-2-2013
21890005@unknown@formal@none@1@S@The bank, which has loss reserves equal to about half its long-term and medium-term loans to less-developed nations, said it doesn't think additional reserves are required.@@@@1@26@@oe@2-2-2013
21891001@unknown@formal@none@1@S@Enron Corp. said a subsidiary and two United Kingdom firms are studying the feasibility of constructing a 1,500 megawatt gas-fired power plant in northern England as an outgrowth of the government's privatization program.@@@@1@33@@oe@2-2-2013
21891002@unknown@formal@none@1@S@Enron Power Corp., a unit of the Houston natural gas pipeline company, would design, construct and run the plant.@@@@1@19@@oe@2-2-2013
21891003@unknown@formal@none@1@S@Gas to fuel it would be piped from the North Sea.@@@@1@11@@oe@2-2-2013
21891004@unknown@formal@none@1@S@A subsidiary of Britain's Imperial Chemical Industries would buy electricity and steam from the proposed station.@@@@1@16@@oe@2-2-2013
21891005@unknown@formal@none@1@S@Surplus power would be sold on the open market, Enron said.@@@@1@11@@oe@2-2-2013
21891006@unknown@formal@none@1@S@Also participating in the study, Enron said, is the National Power division of Britain's Central Electricity Generating Board.@@@@1@18@@oe@2-2-2013
21891007@unknown@formal@none@1@S@Upon privatization, National Power will be responsible for 70% of the country's power generating business.@@@@1@15@@oe@2-2-2013
21892001@unknown@formal@none@1@S@Viacom Inc., New York, reported that its third-quarter loss widened to $21.7 million, or 41 cents a share, primarily because of interest expense of $70.1 million.@@@@1@26@@oe@2-2-2013
21892002@unknown@formal@none@1@S@A year ago, Viacom had a net loss of $56.9 million, or $1.07 a share.@@@@1@15@@oe@2-2-2013
21892003@unknown@formal@none@1@S@Interest expense in the 1988 third quarter was $75.3 million.@@@@1@10@@oe@2-2-2013
21892004@unknown@formal@none@1@S@In the year-ago quarter, Viacom also paid preferred stock dividends of $17 million; Viacom exchanged its preferred stock for debt in March.@@@@1@22@@oe@2-2-2013
21892005@unknown@formal@none@1@S@The communications and entertainment company said revenue rose to $345.5 million, from $311.6 million.@@@@1@14@@oe@2-2-2013
21892006@unknown@formal@none@1@S@Viacom attributed the improvement to higher earnings from operations in its networks segment, which includes the MTV and Showtime networks.@@@@1@20@@oe@2-2-2013
21892007@unknown@formal@none@1@S@Viacom said it also restructured bank debt under a $1.5 billion unsecured bank agreement that offers significant interest rate savings.@@@@1@20@@oe@2-2-2013
21892008@unknown@formal@none@1@S@Sumner M. Redstone, Viacom's chairman, said Viacom "emerged from our leveraged buy-out structure and gained substantial operating and financial flexibility through" the bank pact.@@@@1@24@@oe@2-2-2013
21893001@unknown@formal@none@1@S@Trinova Corp., Maumee, Ohio, said it is launching an extensive restructuring of its core business, and took a charge that resulted in a loss of $29.7 million, or 87 cents a share, for the third quarter.@@@@1@36@@oe@2-2-2013
21893002@unknown@formal@none@1@S@Trinova said it will close, move or overhaul 40 of its 170 manufacturing facilities and over the next three years cut 1,500 jobs from its current world-wide payroll of 22,300 employees.@@@@1@31@@oe@2-2-2013
21893003@unknown@formal@none@1@S@Most of the factory closings and job cutbacks will affect Trinova's Aeroquip operations, which manufacture automotive plastics, hoses and other industrial and automotive parts.@@@@1@24@@oe@2-2-2013
21893004@unknown@formal@none@1@S@Hoses and plastics together account for about 42% of Trinova's total annual sales.@@@@1@13@@oe@2-2-2013
21893005@unknown@formal@none@1@S@In a separate announcement, Trinova said the Aeroquip group has agreed to sell its spring-brake, piston-brake and related businesses to Midland Brake Inc. of Branford, Conn.@@@@1@26@@oe@2-2-2013
21893006@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
21893007@unknown@formal@none@1@S@To provide for the restructuring's costs, Trinova said it took an after-tax charge of $38.5 million, or $1.13 a share, in the third quarter.@@@@1@24@@oe@2-2-2013
21893008@unknown@formal@none@1@S@The $29.7 million net loss compares with net income of $19.6 million, or 57 cents a share, a year earlier.@@@@1@20@@oe@2-2-2013
21893009@unknown@formal@none@1@S@Sales rose 8% to $456.2 million from $422 million.@@@@1@9@@oe@2-2-2013
21893010@unknown@formal@none@1@S@Trinova closed at $25, down $1, in New York Stock Exchange composite trading.@@@@1@13@@oe@2-2-2013
21894001@unknown@formal@none@1@S@A group of investors, including Giancarlo Parretti's Pathe Communications Corp. and Sasea Holding S.A., have agreed to buy 76.66% of Odeon Finanziaria, a financially troubled Italian TV station.@@@@1@28@@oe@2-2-2013
21894002@unknown@formal@none@1@S@Florio Fiorini, managing director of Geneva-based Sasea, said the investors would pay only a symbolic one lira for the station, "but we have agreed to raise the capital that will enable the company to continue operating.@@@@1@36@@oe@2-2-2013
21894003@unknown@formal@none@1@S@It's sort of a Chapter 11 situation," he added, referring to the U.S. bankruptcy law that protects companies from creditors while they restructure.@@@@1@23@@oe@2-2-2013
21894004@unknown@formal@none@1@S@Milan-based Odeon, which draws about 3% of Italian TV viewers, has debt of 250 billion lire ($181.9 million), Mr. Fiorini said.@@@@1@21@@oe@2-2-2013
21894005@unknown@formal@none@1@S@He added that details of the recapitalization still have to be worked out, but that Pathe will take 50% of Odeon, Rome film producer Bruno Lucisano will take 10% and the remaining 16.66%, currently owned by Sasea, will eventually be sold to other investors.@@@@1@44@@oe@2-2-2013
21894006@unknown@formal@none@1@S@Calisto Tanzi, Odeon's owner, will retain his 23.34% stake.@@@@1@9@@oe@2-2-2013
21894007@unknown@formal@none@1@S@Italy's Supreme Court this year ordered Parliament to write a law that will regulate media ownership.@@@@1@16@@oe@2-2-2013
21894008@unknown@formal@none@1@S@"We think that it's going to be far more favorable to own a station before the law is passed than to try to buy one afterward," Mr. Fiorini said.@@@@1@29@@oe@2-2-2013
21895001@unknown@formal@none@1@S@San Francisco area officials gave the media high marks for helping people find shelter and obtain emergency information after Tuesday's catastrophic earthquake.@@@@1@22@@oe@2-2-2013
21895002@unknown@formal@none@1@S@"The press has been doing an excellent job.@@@@1@8@@oe@2-2-2013
21895003@unknown@formal@none@1@S@They are telling people what roads are closed and just keeping the public informed has helped to keep the panic down," said James Ball, a station supervisor at Daly City Police Department.@@@@1@32@@oe@2-2-2013
21895004@unknown@formal@none@1@S@Mr. Ball noted that television stations featured people holding up phone books, explaining where to call for help.@@@@1@18@@oe@2-2-2013
21895005@unknown@formal@none@1@S@Radio stations provided an emergency number for people who smelled gas but didn't know how to turn off their gas supply.@@@@1@21@@oe@2-2-2013
21895006@unknown@formal@none@1@S@Kim Schwartz, a spokesperson for the American Red Cross in Los Angeles, said television and radio stations in San Francisco played a "very positive role" by providing the address of 28 shelters of the Red Cross and by giving out the Red Cross number for contributions to help earthquake victims (1-800-453-9000).@@@@1@51@@oe@2-2-2013
21895007@unknown@formal@none@1@S@The San Francisco Examiner issued a special edition around noon yesterday that was filled entirely with earthquake news and information.@@@@1@20@@oe@2-2-2013
21895008@unknown@formal@none@1@S@The Examiner and the San Francisco Chronicle were able to publish despite Tuesday's quake, which occurred close to deadline for many newspapers.@@@@1@22@@oe@2-2-2013
21896001@unknown@formal@none@1@S@Sterling Software Inc. said it lost its bid to supply software services to the National Aeronautics and Space Administration's Ames Research Center at Moffett Field, Calif.@@@@1@26@@oe@2-2-2013
21896002@unknown@formal@none@1@S@Sterling, which estimated the value of the contract at $150 million, said NASA selected another bidder for final negotiations.@@@@1@19@@oe@2-2-2013
21896003@unknown@formal@none@1@S@In 1988, Dallas-based Sterling protested a similar decision by NASA involving the same contract, claiming it had submitted the lowest bid.@@@@1@21@@oe@2-2-2013
21896004@unknown@formal@none@1@S@As a result, last March the General Services Administration board of contract appeals directed NASA to reopen negotiations on the contract.@@@@1@21@@oe@2-2-2013
21896005@unknown@formal@none@1@S@Sterling said it had requested a briefing by NASA but had not decided whether to protest the agency's latest decision.@@@@1@20@@oe@2-2-2013
21897001@unknown@formal@none@1@S@Consolidated Rail Corp., New York, reported that third-quarter net income climbed 4.8% to $87 million, or $1.27 a share, exceeding analysts' expectations.@@@@1@22@@oe@2-2-2013
21897002@unknown@formal@none@1@S@In the year-earlier quarter, the freight railroad earned $83 million, or $1.21 a share.@@@@1@14@@oe@2-2-2013
21897003@unknown@formal@none@1@S@James A. Hagen, chairman and chief executive officer, noted that earnings advanced "in the face of a drop in business, brought on by the general economic slowdown."@@@@1@27@@oe@2-2-2013
21897004@unknown@formal@none@1@S@Revenue slipped 4.6% to $835 million from $876 million.@@@@1@9@@oe@2-2-2013
21897005@unknown@formal@none@1@S@For the rest of 1989, Mr. Hagen said, Conrail's traffic and revenue "will reflect the sluggish economy, but Conrail will continue to take steps to control and reduce costs."@@@@1@29@@oe@2-2-2013
21897006@unknown@formal@none@1@S@For the nine months, Conrail earnings grew 0.4% to $229 million, or $3.34 a share, from $228 million, or $3.31 a share.@@@@1@22@@oe@2-2-2013
21897007@unknown@formal@none@1@S@Revenue was flat at $2.59 billion.@@@@1@6@@oe@2-2-2013
21898001@unknown@formal@none@1@S@Georgia Gulf Corp., hurt by declining sales and falling chemical prices, said third-quarter earnings fell 13% to $46.1 million from $53.1 million in the year-earlier period.@@@@1@26@@oe@2-2-2013
21898002@unknown@formal@none@1@S@Sales declined 10% to $251.2 million from $278.7 million.@@@@1@9@@oe@2-2-2013
21898003@unknown@formal@none@1@S@The Atlanta-based chemical manufacturer said lower prices hurt margins for most products.@@@@1@12@@oe@2-2-2013
21898004@unknown@formal@none@1@S@"We did see some relief in raw material costs, but it wasn't sufficient to offset the drop in sales prices," James R. Kuse, the company's chairman and chief executive officer said in a statement.@@@@1@34@@oe@2-2-2013
21898005@unknown@formal@none@1@S@On a per-share basis, quarterly earnings remained at $1.85, the same as last year, because of the company's share buy-back program.@@@@1@21@@oe@2-2-2013
21898006@unknown@formal@none@1@S@Georgia Gulf had 24.9 million shares outstanding on average in the quarter, compared with 28.6 million in the third quarter of 1988, adjusted for a stock split paid in January 1989.@@@@1@31@@oe@2-2-2013
21898007@unknown@formal@none@1@S@In composite New York Stock Exchange trading, stock in Georgia Gulf, which has been mentioned as a takeover candidate, rose $2.125 a share to close at $46.125.@@@@1@27@@oe@2-2-2013
21899001@unknown@formal@none@1@S@This temblor-prone city dispatched inspectors, firefighters and other earthquake-trained personnel to aid San Francisco.@@@@1@14@@oe@2-2-2013
21899002@unknown@formal@none@1@S@But a secondary agenda among officials in the City of Angels was to learn about the disaster-contingency plans that work and those that don't.@@@@1@24@@oe@2-2-2013
21899003@unknown@formal@none@1@S@Los Angeles Mayor Tom Bradley used the opportunity to push the City Council harder to pass a measure establishing a loss-recovery reserve of $100 million.@@@@1@25@@oe@2-2-2013
21899004@unknown@formal@none@1@S@The amount would help Los Angeles cope in the first few weeks after its own anticipated quake, while waiting for federal assistance to arrive.@@@@1@24@@oe@2-2-2013
21899005@unknown@formal@none@1@S@After San Francisco Mayor Art Agnos spoke on television of the need for building inspectors to check the soundness of buildings, Los Angeles dispatched 32 inspectors to help.@@@@1@28@@oe@2-2-2013
21899006@unknown@formal@none@1@S@And the county of Los Angeles placed its firefighters and sheriffs on alert, ready to send in reinforcements, and alerted San Francisco that the city has 1,000 hospital beds at its disposal.@@@@1@32@@oe@2-2-2013
21899007@unknown@formal@none@1@S@Two Los Angeles radio stations initiated Red Cross donation campaigns, and one Los Angeles bank manager forked over $150,000 of his own money for relief purposes, the Red Cross said.@@@@1@30@@oe@2-2-2013
21899008@unknown@formal@none@1@S@The Los Angeles Red Cross sent 2,480 cots, 500 blankets, and 300 pints of Type-O blood.@@@@1@16@@oe@2-2-2013
21899009@unknown@formal@none@1@S@It is also pulling 20 people out of Puerto Rico, who were helping Huricane Hugo victims, and sending them to San Francisco instead.@@@@1@23@@oe@2-2-2013
21900001@unknown@formal@none@1@S@The Arizona Corporations Commission authorized an 11.5% rate increase at Tucson Electric Power Co., substantially lower than recommended last month by a commission hearing officer and barely half the rise sought by the utility.@@@@1@34@@oe@2-2-2013
21900002@unknown@formal@none@1@S@The ruling follows a host of problems at Tucson Electric, including major write-downs, a 60% slash in the common stock dividend and the departure of former Chairman Einar Greve during a company investigation of his stock sales.@@@@1@37@@oe@2-2-2013
21900003@unknown@formal@none@1@S@The Arizona regulatory ruling calls for $42 million in added revenue yearly, compared with a $57 million boost proposed by the commission hearing officer.@@@@1@24@@oe@2-2-2013
21900004@unknown@formal@none@1@S@The company had sought increases totaling $80.3 million, or 22%.@@@@1@10@@oe@2-2-2013
21900005@unknown@formal@none@1@S@The decision was announced after trading ended.@@@@1@7@@oe@2-2-2013
21900006@unknown@formal@none@1@S@Tucson Electric closed at $20.875 a share, down 25 cents, in New York Stock Exchange composite trading.@@@@1@17@@oe@2-2-2013
21900007@unknown@formal@none@1@S@A Tucson Electric spokesman said the utility was disappointed by the commission's decision and "concerned about the financial integrity of the company.@@@@1@22@@oe@2-2-2013
21901001@unknown@formal@none@1@S@South Korean President Roh Tae Woo, brushing aside suggestions that the won be revalued again, said the currency's current level against the dollar is "appropriate."@@@@1@25@@oe@2-2-2013
21901002@unknown@formal@none@1@S@His comments, made in response to reporters' questions at the National Press Club here, signaled that Seoul is resisting U.S. pressure for a further rise in the currency's value.@@@@1@29@@oe@2-2-2013
21901003@unknown@formal@none@1@S@The U.S. wants a higher won to make South Korea's exports more expensive and help trim Seoul's trade surplus.@@@@1@19@@oe@2-2-2013
21901004@unknown@formal@none@1@S@Many South Korean business people want a devaluation instead, arguing that the won's recent gains already have weakened the country's export performance.@@@@1@22@@oe@2-2-2013
21901005@unknown@formal@none@1@S@Mr. Roh also said South Korea is taking steps that would free the won to respond to market forces.@@@@1@19@@oe@2-2-2013
21901006@unknown@formal@none@1@S@Seoul has pointed to its lack of a foreign exchange market as one reason the won's value remains heavily controlled.@@@@1@20@@oe@2-2-2013
21901007@unknown@formal@none@1@S@Mr. Roh said a U.S. demand for the removal of South Korean import quotas on beef will be resolved "satisfactorily" but gave no hint when that will happen.@@@@1@28@@oe@2-2-2013
21901008@unknown@formal@none@1@S@Speaking to a joint meeting of Congress earlier, he said South Korea can't move quickly on such agricultural trade issues "without causing political and social trauma.@@@@1@26@@oe@2-2-2013
21902001@unknown@formal@none@1@S@Great American Bank said its board approved the formation of a holding company enabling the savings bank to pursue nontraditional banking activities under a new federal law.@@@@1@27@@oe@2-2-2013
21902002@unknown@formal@none@1@S@The proposed holding company's primary purpose would be to allow Great American to continue engaging in real estate development activities, it said.@@@@1@22@@oe@2-2-2013
21902003@unknown@formal@none@1@S@Those activities generated $26.1 million in operating profit last year.@@@@1@10@@oe@2-2-2013
21902004@unknown@formal@none@1@S@But according to Great American, such profits don't count toward meeting the San Diego savings bank's new capitalization requirements under 1989 federal law.@@@@1@23@@oe@2-2-2013
21902005@unknown@formal@none@1@S@The new real estate unit would have a separate capital structure to comply with the law.@@@@1@16@@oe@2-2-2013
21902006@unknown@formal@none@1@S@The proposed holding company would also consolidate Great American Bank in San Diego and its Tucson, Ariz., savings bank into a single, federally chartered institution in San Diego.@@@@1@28@@oe@2-2-2013
21902007@unknown@formal@none@1@S@The consolidation is expected to save $1 million a year in administrative costs, a Great American spokesman said.@@@@1@18@@oe@2-2-2013
21903001@unknown@formal@none@1@S@Dale Lang, who this week completed the acquisition of the publisher of Ms. and Sassy, is candid about the challenge he is taking on.@@@@1@24@@oe@2-2-2013
21903002@unknown@formal@none@1@S@Mr. Lang admits that Ms. is "in dire straits" and that Sassy needs big promotional dollars to keep it alive.@@@@1@20@@oe@2-2-2013
21903003@unknown@formal@none@1@S@But the 57-year-old publisher has moved quickly and boldly to deal with the magazines' problems.@@@@1@15@@oe@2-2-2013
21903004@unknown@formal@none@1@S@Last Friday, he told the staff of Ms. that the magazine in January would begin publishing without advertising.@@@@1@18@@oe@2-2-2013
21903005@unknown@formal@none@1@S@Mr. Lang will do away with expensive circulation drives, not to mention sales staff, and attempt to publish the 17-year-old magazine supported by circulation revenue alone.@@@@1@26@@oe@2-2-2013
21903006@unknown@formal@none@1@S@"Any fool can publish a money-losing magazine.@@@@1@7@@oe@2-2-2013
21903007@unknown@formal@none@1@S@I want to publish one that succeeds," said Mr. Lang.@@@@1@10@@oe@2-2-2013
21903008@unknown@formal@none@1@S@"For Ms., it's time to publish for the reader, not the advertiser."@@@@1@12@@oe@2-2-2013
21903009@unknown@formal@none@1@S@As for Sassy, which competes directly with News Corp.'s Seventeen magazine, Mr. Lang says that in the next two years he will spend $6 million promoting and improving the magazine.@@@@1@30@@oe@2-2-2013
21903010@unknown@formal@none@1@S@Though Sassy has grown quickly since its debut in March 1988, it has been the target of conservative lobbyists and skittish advertisers who bristled at its frank editorial matter on teen-age problems.@@@@1@32@@oe@2-2-2013
21903011@unknown@formal@none@1@S@Mr. Lang said the former Australian owners of Sassy were "blind-sided by the Moral Majority. . . .@@@@1@18@@oe@2-2-2013
21903012@unknown@formal@none@1@S@Their reaction was to do nothing and ride it out."@@@@1@10@@oe@2-2-2013
21903013@unknown@formal@none@1@S@He said Sassy will keep its irreverent tone, but added, "We will keep a close watch on the editorial content of the magazine."@@@@1@23@@oe@2-2-2013
21903014@unknown@formal@none@1@S@Sassy already has recovered; circulation has quickly passed the 500,000 mark and advertising pages have stabilized this year at more than 300.@@@@1@22@@oe@2-2-2013
21903015@unknown@formal@none@1@S@What's more, Mr. Lang says he has what all publishers wish for: a bona fide niche.@@@@1@16@@oe@2-2-2013
21903016@unknown@formal@none@1@S@"Seventeen is written more for mothers, not their daughters," said Mr. Lang.@@@@1@12@@oe@2-2-2013
21903017@unknown@formal@none@1@S@"But Sassy has a different spirit.@@@@1@6@@oe@2-2-2013
21903018@unknown@formal@none@1@S@It gets more mail in a month than McCall's got in a year, and it's not from mothers.@@@@1@18@@oe@2-2-2013
21903019@unknown@formal@none@1@S@I feel about Sassy like I did about Working Woman 10 years ago."@@@@1@13@@oe@2-2-2013
21903020@unknown@formal@none@1@S@Mr. Lang took on Ms. and Sassy with the acquisition of Matilda Publications Inc. by his newly formed Lang Communications.@@@@1@20@@oe@2-2-2013
21903021@unknown@formal@none@1@S@Lang owns 70% of Matilda, while Citicorp owns the rest through its Citicorp Venture Capital Partners.@@@@1@16@@oe@2-2-2013
21903022@unknown@formal@none@1@S@Two weeks ago, Citicorp and Mr. Lang pumped $800,000 into Matilda just to keep the doors open.@@@@1@17@@oe@2-2-2013
21903023@unknown@formal@none@1@S@Industry observers have congratulated Mr. Lang on what some call his "courageous" handling of Ms., but his track record in magazine publishing in general has gotten mixed reviews.@@@@1@28@@oe@2-2-2013
21903024@unknown@formal@none@1@S@Besides Ms. and Sassy, closely held Lang Communications includes Success, a magazine for entrepreneurs and small businesses, and Working Woman and Working Mother, two monthly magazines.@@@@1@26@@oe@2-2-2013
21903025@unknown@formal@none@1@S@Working Woman, with circulation near one million, and Working Mother, with 625,000 circulation, are legitimate magazine success stories.@@@@1@18@@oe@2-2-2013
21903026@unknown@formal@none@1@S@The magazine Success, however, was for years lackluster and unfocused.@@@@1@10@@oe@2-2-2013
21903027@unknown@formal@none@1@S@Only recently has it been attractively redesigned and its editorial product improved.@@@@1@12@@oe@2-2-2013
21903028@unknown@formal@none@1@S@Success is expected to gain at least because of the recent folding of rival Venture, another magazine for growing companies.@@@@1@20@@oe@2-2-2013
21903029@unknown@formal@none@1@S@Working Woman and Working Mother have operated as part of Working Woman/McCall's Group, a less-than-successful joint venture between Mr. Lang and Time Warner Inc.@@@@1@24@@oe@2-2-2013
21903030@unknown@formal@none@1@S@The joint venture is being undone, with McCall's magazine being sold last summer to the New York Times Co.'s Magazine Group for about $80 million, and Time Warner agreeing to sell back its 50% interest in Working Woman and Working Mother to Mr. Lang.@@@@1@44@@oe@2-2-2013
21903031@unknown@formal@none@1@S@Executives at Time Inc. Magazine Co., a subsidiary of Time Warner, have said the joint venture with Mr. Lang wasn't a good one.@@@@1@23@@oe@2-2-2013
21903032@unknown@formal@none@1@S@The venture, formed in 1986, was supposed to be Time's low-cost, safe entry into women's magazines.@@@@1@16@@oe@2-2-2013
21903033@unknown@formal@none@1@S@Mr. Lang surprised Time soon after joining forces when he said he would negotiate rates individually with advertisers, a practice common in broadcasting but considered taboo by magazine publishers.@@@@1@29@@oe@2-2-2013
21903034@unknown@formal@none@1@S@In addition, McCall's put in a less than stellar performance.@@@@1@10@@oe@2-2-2013
21903035@unknown@formal@none@1@S@Until a recent comeback, it saw steep losses in ad pages and circulation.@@@@1@13@@oe@2-2-2013
21903036@unknown@formal@none@1@S@Time executives complained about the shoddy editorial quality, and in the end, one Time executive who asked not to be identified said, "Frankly, McCall's and the joint venture were an embarrassment."@@@@1@31@@oe@2-2-2013
21903037@unknown@formal@none@1@S@Mr. Lang feels that Time's priorities changed.@@@@1@7@@oe@2-2-2013
21903038@unknown@formal@none@1@S@"Their management changed right after {the venture was formed}, and I don't think they were comfortable getting into the competitive wars of women's service magazines."@@@@1@25@@oe@2-2-2013
21903039@unknown@formal@none@1@S@Today, Mr. Lang believes his magazines will offer what many women's magazines don't.@@@@1@13@@oe@2-2-2013
21903040@unknown@formal@none@1@S@"We write straight for women on their level," he said.@@@@1@10@@oe@2-2-2013
21903041@unknown@formal@none@1@S@"We don't have passive readers."@@@@1@5@@oe@2-2-2013
21903042@unknown@formal@none@1@S@Mr. Lang points out that even Success, in part, fits the company's image, since about 30% of its readership is female.@@@@1@21@@oe@2-2-2013
21903043@unknown@formal@none@1@S@Mr. Lang has named Carol Taber, 43, as group publisher of New York-based Lang Communications.@@@@1@15@@oe@2-2-2013
21903044@unknown@formal@none@1@S@She will oversee Working Woman, Working Mother and Success magazines, and retain her post as publisher of Working Woman.@@@@1@19@@oe@2-2-2013
21903045@unknown@formal@none@1@S@The sale price of McCall's -- twice what Mr. Lang originally paid for it -- will finance Lang Communications' buy-back of Time Warner's 50% interest in Working Woman and Working Mother.@@@@1@31@@oe@2-2-2013
21903046@unknown@formal@none@1@S@Mr. Lang says he isn't scouting new acquisitions, at least for now.@@@@1@12@@oe@2-2-2013
21903047@unknown@formal@none@1@S@"We would have to go outside to banks to get the money and I am not ready to do that," he said.@@@@1@22@@oe@2-2-2013
21903048@unknown@formal@none@1@S@"Besides, we have enough on our plate.@@@@1@7@@oe@2-2-2013
21903049@unknown@formal@none@1@S@There is plenty of work to be done on what we have.@@@@1@12@@oe@2-2-2013
21904001@unknown@formal@none@1@S@Britain's Monopolies and Mergers Commission Wednesday cleared Rhone-Poulenc S.A.'s purchase of a specialty bulk-chemical unit from Monsanto Co., saying the purchase was unlikely to have any lasting impact on U.K. industrial consumers.@@@@1@32@@oe@2-2-2013
21904002@unknown@formal@none@1@S@The commission, which was asked to study the deal by the Department of Trade and Industry after its announcement in February, said the diversity of global supply of chemicals used in making analgesic drugs was great enough to offset the dominant U.K. market share Rhone-Poulenc would gain through the acquisition.@@@@1@50@@oe@2-2-2013
21904003@unknown@formal@none@1@S@The French chemical giant would hold an 80% share of the U.K. market for salicylic acid, methyl salicylate and bulk aspirin.@@@@1@21@@oe@2-2-2013
21904004@unknown@formal@none@1@S@The commission found that if the British government attempted to block the merger, Rhone-Poulenc would likely respond by closing the salicylates plant Monsanto operates in Wales, removing the matter from U.K. jurisdiction.@@@@1@32@@oe@2-2-2013
21905001@unknown@formal@none@1@S@Morrison Knudsen Corp. posted third-quarter net income of $7.9 million, or 69 cents a share, continuing a rebound from steep year-ago losses.@@@@1@22@@oe@2-2-2013
21905002@unknown@formal@none@1@S@In the third quarter a year-earlier, the construction and engineering concern posted a loss of $51.2 million, or $4.68 a share.@@@@1@21@@oe@2-2-2013
21905003@unknown@formal@none@1@S@Revenue in the latest quarter rose 14% to $589 million from $515.1 million.@@@@1@13@@oe@2-2-2013
21905004@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Morrison gained $2.25 to $44.125.@@@@1@14@@oe@2-2-2013
21905005@unknown@formal@none@1@S@Morrison said the engineering and construction segment performed well, with the mining and MK-Ferguson operations making important contributions.@@@@1@18@@oe@2-2-2013
21905006@unknown@formal@none@1@S@Boise, Idaho-based Morrison had losses totaling $186 million over the two years ended in December, but it has surged back to profitability as a result of cost-cutting and shedding of unprofitable operations.@@@@1@32@@oe@2-2-2013
21905007@unknown@formal@none@1@S@In the nine months, the company's net income was $21.5 million, or $1.88 a share, compared with a year-earlier loss of $97.8 million, or $8.96 a share.@@@@1@27@@oe@2-2-2013
21905008@unknown@formal@none@1@S@Revenue rose 17% to $1.62 billion from $1.39 billion.@@@@1@9@@oe@2-2-2013
21906001@unknown@formal@none@1@S@The House Ethics Committee officially cited Rep. Jim Bates (D., Calif.) for sexually harassing two female employees, but didn't recommend formal disciplinary action.@@@@1@23@@oe@2-2-2013
21906002@unknown@formal@none@1@S@Rep. Bates said he accepted the finding, but one of the victims, Dorena Bertussi, denounced the ethics panel's action as "absurd."@@@@1@21@@oe@2-2-2013
21906003@unknown@formal@none@1@S@Acting more than a year after Ms. Bertussi filed a complaint, the panel issued a "letter of reproval" saying Rep. Bates had admitted conduct that violated a House rule forbidding discrimination against employees on account of their sex.@@@@1@38@@oe@2-2-2013
21906004@unknown@formal@none@1@S@It ordered Rep. Bates to write letters of apology to Ms. Bertussi and to a second complainant, Karen Dryden.@@@@1@19@@oe@2-2-2013
21906005@unknown@formal@none@1@S@Rep. Bates said he would write the letters as ordered.@@@@1@10@@oe@2-2-2013
21906006@unknown@formal@none@1@S@"I accept the resolution of the matter by the Ethics Committee," he said.@@@@1@13@@oe@2-2-2013
21906007@unknown@formal@none@1@S@The panel also warned Rep. Bates that any further violations "may result in a recommendation that disciplinary action be considered."@@@@1@20@@oe@2-2-2013
21906008@unknown@formal@none@1@S@But Ms. Bertussi asked, "Who in their right mind is going to file another complaint with the Ethics Committee?"@@@@1@19@@oe@2-2-2013
21906009@unknown@formal@none@1@S@Rep. Bates has publicly begged for forgiveness from voters and was re-elected with 60% of the vote last November.@@@@1@19@@oe@2-2-2013
21907001@unknown@formal@none@1@S@Mesa Airlines said the takeover offer it received earlier this week from StatesWest Airlines is for a combination of cash and securities valued by StatesWest at $10 a Mesa share.@@@@1@30@@oe@2-2-2013
21907002@unknown@formal@none@1@S@Both companies are regional carriers in the Southwest.@@@@1@8@@oe@2-2-2013
21907003@unknown@formal@none@1@S@When it made the offer, StatesWest declined to disclose details and asked Mesa to do the same.@@@@1@17@@oe@2-2-2013
21907004@unknown@formal@none@1@S@But Farmington, N.M.-based Mesa said the offer was for $7 in cash and unspecified StatesWest securities valued at $3 a share.@@@@1@21@@oe@2-2-2013
21907005@unknown@formal@none@1@S@Based on the number of Mesa shares outstanding not already owned by StatesWest, the proposed takeover would have a value of about $15.3 million.@@@@1@24@@oe@2-2-2013
21907006@unknown@formal@none@1@S@StatesWest owns 7.25% of Mesa.@@@@1@5@@oe@2-2-2013
21907007@unknown@formal@none@1@S@Last week, Mesa rejected a general proposal from StatesWest that the two carriers combine.@@@@1@14@@oe@2-2-2013
21907008@unknown@formal@none@1@S@In response to the specific offer, Gary Risley, Mesa vice president, said management will ask directors to employ a financial consultant to advise them.@@@@1@24@@oe@2-2-2013
21908001@unknown@formal@none@1@S@Hawker Siddeley Group PLC, a U.K. engineering company, reported a 16% jump in pretax profit for the six-month period ending June 30.@@@@1@22@@oe@2-2-2013
21908002@unknown@formal@none@1@S@Pretax profit rose to #93.2 million ($146.8 million) from #80.6 million ($127 million), matching analysts' expectations, which ranged from #90 million to #95 million.@@@@1@24@@oe@2-2-2013
21908003@unknown@formal@none@1@S@Profit after taxes and minority interests increased 16% to #55.2 million from #47.6 million in the year-earlier period, while earnings per share rose 16% to 27.9 pence (44 cents) from 24.1 pence (38 cents).@@@@1@34@@oe@2-2-2013
21908004@unknown@formal@none@1@S@Hawker Siddeley said its core electrical products division enjoyed strong growth, with a 20% rise in operating profit during the period.@@@@1@21@@oe@2-2-2013
21909001@unknown@formal@none@1@S@Fleet/Norstar Financial Group reported a 12% increase in net income in the third quarter, led by a 43% gain in its financial services group.@@@@1@24@@oe@2-2-2013
21909002@unknown@formal@none@1@S@Fleet's net was $96.4 million, or 86 cents a primary share, compared with $85.8 million, or 79 cents a share, a year earlier.@@@@1@23@@oe@2-2-2013
21909003@unknown@formal@none@1@S@The Providence, R.I., financial services group, which includes commercial-credit, leasing and mortgage-banking operations, contributed $30.6 million to net, up from last year's $21.3 million.@@@@1@24@@oe@2-2-2013
21909004@unknown@formal@none@1@S@Fleet also noted that, unlike other banking companies in the Northeast, it has been only marginally hurt by nonperforming loans that have resulted from the slumping regional real estate market.@@@@1@30@@oe@2-2-2013
21909005@unknown@formal@none@1@S@Fleet reported nine-month net of $279.0 million, or $2.51 a primary share, up from $248.2 million, or $2.28 a share, a year earlier.@@@@1@23@@oe@2-2-2013
21910001@unknown@formal@none@1@S@Benj. Franklin Federal Savings & Loan Association said it expects to post a third-quarter net loss of about $8 million, or $1.04 a share, as a result of adding $11 million in loan-loss reserves.@@@@1@34@@oe@2-2-2013
21910002@unknown@formal@none@1@S@The Portland, Ore., thrift, which has $5.2 billion of assets, had net income in last year's third quarter of $1.8 million, or 23 cents a share.@@@@1@26@@oe@2-2-2013
21910003@unknown@formal@none@1@S@Franklin said it expects to report earnings for the latest quarter next week.@@@@1@13@@oe@2-2-2013
21910004@unknown@formal@none@1@S@The additional reserves relate to possible write-downs of certain assets held by Franklin and its subsidiaries and the default of a bond in its investment portfolio, the thrift said.@@@@1@29@@oe@2-2-2013
21910005@unknown@formal@none@1@S@According to a spokeswoman, they also relate to changes Franklin will have to make in its accounting procedures to comply with new federal capitalization requirements for thrifts.@@@@1@27@@oe@2-2-2013
21910006@unknown@formal@none@1@S@The company's shares closed yesterday at $4.25, off 25 cents, in national over-the-counter trading.@@@@1@14@@oe@2-2-2013
21911001@unknown@formal@none@1@S@Arkla Inc. said that as part of a program to improve profitability it will take a total of $189 million in after-tax charges by year end.@@@@1@26@@oe@2-2-2013
21911002@unknown@formal@none@1@S@It also announced an initial public offering of 18% of its gas exploration and production subsidiary.@@@@1@16@@oe@2-2-2013
21911003@unknown@formal@none@1@S@The Shreveport, La., natural gas company said the charges, though partially offset by a one-time gain from the offering, will result in a full-year after-tax loss.@@@@1@26@@oe@2-2-2013
21911004@unknown@formal@none@1@S@Last year, the company had net income of $117.3 million, or $1.30 a share.@@@@1@14@@oe@2-2-2013
21911005@unknown@formal@none@1@S@Arkla said it will report $179 milllion in one-time charges against continuing operations for the third quarter, reflecting settlement of certain natural gas contracts.@@@@1@24@@oe@2-2-2013
21911006@unknown@formal@none@1@S@It said it will take a $10 million fourth-quarter charge against discontinued operations, reflecting certain write-downs and the planned sale of a unit.@@@@1@23@@oe@2-2-2013
21911007@unknown@formal@none@1@S@Arkla said its initial offering of 18% of Arkla Exploration Co. is expected to result in a net gain of about $90 million, which will be used to pay down Arkla debt.@@@@1@32@@oe@2-2-2013
21911008@unknown@formal@none@1@S@Arkla Exploration owns sizable gas and crude-oil reserves in the South and Southwest.@@@@1@13@@oe@2-2-2013
21912001@unknown@formal@none@1@S@South Africa negotiated a new debt agreement with its major foreign creditors for about $8 billion of its foreign debt outstanding, said Chris Stals, governor of the Reserve Bank and the country's chief debt negotiator.@@@@1@35@@oe@2-2-2013
21912002@unknown@formal@none@1@S@The new agreement will last for 3 1/2 years starting July 1, 1990, when the current agreement expires.@@@@1@18@@oe@2-2-2013
21912003@unknown@formal@none@1@S@The announcement coincides with the start of the Commonwealth Ministers Conference in Kuala Lumpur, where proposals for renewed sanctions against South Africa, including moves to block settling of a new debt agreement, were scheduled to be discussed.@@@@1@37@@oe@2-2-2013
21912004@unknown@formal@none@1@S@As with the previous pact, the new agreement covers the country's debt "inside the net," which applies mainly to repayments due to overseas creditor banks by the private sector.@@@@1@29@@oe@2-2-2013
21912005@unknown@formal@none@1@S@The agreement calls for South African debtors to make repayments in eight installments, starting in December of next year.@@@@1@19@@oe@2-2-2013
21912006@unknown@formal@none@1@S@The redemption then would be at 1.5% of the total debt, increasing to 2.5% in February 1991, and to 3% at six-month intervals thereafter.@@@@1@24@@oe@2-2-2013
21912007@unknown@formal@none@1@S@A revised provision would be included for the conversion of short-term claims inside the net to long-term loans outside the net.@@@@1@21@@oe@2-2-2013
21912008@unknown@formal@none@1@S@These claims would be repayable over a 10-year period.@@@@1@9@@oe@2-2-2013
21912009@unknown@formal@none@1@S@Foreign debt falling outside the net of affected indebtedness -- which Mr. Stahl estimated at $12 billion -- would remain not subject to the debt arrangements.@@@@1@26@@oe@2-2-2013
21913001@unknown@formal@none@1@S@New York Times Co. said net income rose in the third quarter because of a one-time gain on the sale of the company's cable-TV system.@@@@1@25@@oe@2-2-2013
21913002@unknown@formal@none@1@S@Net surged to $210.8 million, or $2.68 a share, from $26.7 million, or 33 cents a share, a year earlier.@@@@1@20@@oe@2-2-2013
21913003@unknown@formal@none@1@S@The latest quarter included a gain of $193.3 million, or $2.46 a share, from the sale of New York Times Cable, completed in August.@@@@1@24@@oe@2-2-2013
21913004@unknown@formal@none@1@S@Exclusive of the gain, operating profit declined 35% to $16.4 million, or 21 cents a share, from $25.2 million, or 31 cents a share.@@@@1@24@@oe@2-2-2013
21913005@unknown@formal@none@1@S@The decline primarily reflected the dilution from acquiring McCall's, Golf World (U.S.) and Sailing World magazines; lower equity earnings from the forest-products group because of price discounting and an unfavorable exchange rate, and an 8.7% decline in advertising linage at the New York Times, the company's flagship newspaper.@@@@1@48@@oe@2-2-2013
21913006@unknown@formal@none@1@S@Advertising volume at the company's 35 regional newspapers decreased 1.1%.@@@@1@10@@oe@2-2-2013
21913007@unknown@formal@none@1@S@The company said the negative factors are expected to continue into next year.@@@@1@13@@oe@2-2-2013
21913008@unknown@formal@none@1@S@Revenue rose 6.4% to $415.3 million from $390.5 million.@@@@1@9@@oe@2-2-2013
21914001@unknown@formal@none@1@S@Democrat Gene Taylor won a special election to fill the congressional seat vacated by the death of Republican Larkin Smith, taking back the GOP's lone redoubt in Mississippi's House delegation.@@@@1@30@@oe@2-2-2013
21914002@unknown@formal@none@1@S@Mr. Taylor's overwhelming victory against Republican Tom Anderson reclaims a seat the Republicans had held for 17 years and gives the Democrats their fifth victory in the seven special House elections held this year.@@@@1@34@@oe@2-2-2013
21914003@unknown@formal@none@1@S@Mr. Taylor, a 36-year-old state senator from Bay St. Louis, won 65% of the vote in a district that has voted Republican in the past five presidential elections and that was once represented by Republican U.S. Sen. Trent Lott.@@@@1@39@@oe@2-2-2013
21914004@unknown@formal@none@1@S@Mr. Taylor's victory was an embarrassment for both state and national Republicans.@@@@1@12@@oe@2-2-2013
21914005@unknown@formal@none@1@S@Mr. Anderson, a former Lott aide, received campaign assistance from the senator and from President Bush, who visited the district last week.@@@@1@22@@oe@2-2-2013
21914006@unknown@formal@none@1@S@Even so, Mr. Taylor carried all but one of the district's dozen counties.@@@@1@13@@oe@2-2-2013
21914007@unknown@formal@none@1@S@Rep. Smith died in a plane crash on Aug. 13.@@@@1@10@@oe@2-2-2013
21915001@unknown@formal@none@1@S@Wall Street Journal reporters called companies with headquarters or facilities in the Bay area in a bid to assess the damage to their operations caused by Tuesday's earthquake.@@@@1@28@@oe@2-2-2013
21915002@unknown@formal@none@1@S@The calls reached many, but certainly not all, of the publicly held companies with operations in the area.@@@@1@18@@oe@2-2-2013
21915003@unknown@formal@none@1@S@In most cases damage to company facilities and operations was minimal.@@@@1@11@@oe@2-2-2013
21915004@unknown@formal@none@1@S@ADIA SERVICES INC., Menlo Park, temporary personnel agency, annual sales of $504 million, OTC, said all 30 offices in Bay area were working, but in various states of disarray.@@@@1@29@@oe@2-2-2013
21915005@unknown@formal@none@1@S@Business was slow because many companies were closed yesterday.@@@@1@9@@oe@2-2-2013
21915006@unknown@formal@none@1@S@ADVANCED MICRO DEVICES INC., Sunnyvale, integrated circuit maker, annual sales of $1.12 billion, NYSE, had only minor structural damage.@@@@1@19@@oe@2-2-2013
21915007@unknown@formal@none@1@S@Most of its 4,500 workers were at work yesterday, and no production slowdown was anticipated as long as electricity remains available.@@@@1@21@@oe@2-2-2013
21915008@unknown@formal@none@1@S@AMDAHL CORP., Sunnyvale, computer maker, annual sales of $1.8 billion, Amex, was closed yesterday and no damage estimates were available.@@@@1@20@@oe@2-2-2013
21915009@unknown@formal@none@1@S@AMERICAN BUILDING MAINTENANCE INDUSTRIES Inc., San Francisco, provider of maintenance services, annual revenue of $582 million, NYSE, had some damage to headquarters and lost phone service, but operations were moved to a branch office and are running smoothly thanks to a decentralized computer system the company had developed before the quake.@@@@1@51@@oe@2-2-2013
21915010@unknown@formal@none@1@S@AMERICAN PRESIDENT COS., Oakland, shipping concern, annual sales of $2.2 billion, NYSE, had little damage to the cranes, dock or rail track at its container-ship facility near the collapsed Route 880 overpass.@@@@1@32@@oe@2-2-2013
21915011@unknown@formal@none@1@S@The company expects to work a ship due in today with minimal delays, despite sporadic power.@@@@1@16@@oe@2-2-2013
21915012@unknown@formal@none@1@S@ANACOMP INC., Indianapolis, NYSE, said its Xidex Corp. unit, a Sunnyvale maker of computer disks and microfilm with annual sales of $637 million, had only minor damage and is fully operational.@@@@1@31@@oe@2-2-2013
21915013@unknown@formal@none@1@S@ANTHEM ELECTRONICS INC., San Jose, distributor of electronic parts, annual sales of about $300 million, NYSE, sustained very little damage, anticipated being "in 100% operating condition" by midday.@@@@1@28@@oe@2-2-2013
21915014@unknown@formal@none@1@S@APPLE COMPUTER CO., Cupertino, computer maker, annual sales of $4.07 billion, OTC, sustained some structural damage.@@@@1@16@@oe@2-2-2013
21915015@unknown@formal@none@1@S@Offices were closed yesterday.@@@@1@4@@oe@2-2-2013
21915016@unknown@formal@none@1@S@APPLIED MATERIALS INC., Santa Clara, maker of computer-chip machine systems, annual sales of $490 million, OTC, had slight damage to headquarters, no damage to manufacturing plants.@@@@1@26@@oe@2-2-2013
21915017@unknown@formal@none@1@S@Company, with 1,750 workers in area, is fully functional.@@@@1@9@@oe@2-2-2013
21915018@unknown@formal@none@1@S@ATARI CORP., Sunnyvale, maker of personal computers and software, annual sales of $700 million, Amex, had minor damage and expects to be fully operational by tomorrow.@@@@1@26@@oe@2-2-2013
21915019@unknown@formal@none@1@S@BANKAMERICA Corp., San Francisco, bank holding company, annual revenue of $10.2 billion, NYSE, yesterday had no power at its headquarters, 80 of its 433 Northern California branches were closed and 250 of 750 automatic teller machines were closed in the area.@@@@1@41@@oe@2-2-2013
21915020@unknown@formal@none@1@S@Securities trading was conducted in a backup facility in Concord.@@@@1@10@@oe@2-2-2013
21915021@unknown@formal@none@1@S@BECHTEL CORP., San Francisco, engineering and construction concern, annual sales of $4 billion, had only minor structural damage at its three buildings in the city, but its computers were knocked out.@@@@1@31@@oe@2-2-2013
21915022@unknown@formal@none@1@S@Backup computer tapes were hand-carried to an IBM office in Philadelphia, and the company expects its mainframe to be up in a few days.@@@@1@24@@oe@2-2-2013
21915023@unknown@formal@none@1@S@Workers, except for senior management, were asked not to report for work yesterday.@@@@1@13@@oe@2-2-2013
21915024@unknown@formal@none@1@S@BIO-RAD LABORATORIES INC., Hercules, biological research and clinical-products leader, $200 million in annual sales, Amex, said its Richmond warehouse north of San Francisco was closed because of debris and fallen shelves.@@@@1@31@@oe@2-2-2013
21915025@unknown@formal@none@1@S@It expects to be fully operational by next week.@@@@1@9@@oe@2-2-2013
21915026@unknown@formal@none@1@S@BORLAND INTERNATIONAL, Scotts Valley, personal computer and software designer, annual sales of $72 million, had heavy damage to its headquarters and was conducting business from its parking lot.@@@@1@28@@oe@2-2-2013
21915027@unknown@formal@none@1@S@The company doesn't expect any shipping delays.@@@@1@7@@oe@2-2-2013
21915028@unknown@formal@none@1@S@BUSINESSLAND INC., San Jose, computer retail company, annual sales of $1.1 billion, NYSE, said all 16 corporate office and stores in the area were open with the exception of a retail center in San Francisco's business district.@@@@1@37@@oe@2-2-2013
21915029@unknown@formal@none@1@S@That facility should reopen today.@@@@1@5@@oe@2-2-2013
21915030@unknown@formal@none@1@S@CARTER HAWLEY HALE STORES Inc., Los Angeles, retailer, annual sales of $2.79 billion, NYSE, said nine of its 22 Emporium stores in the area were closed because of water damage, broken windows and fallen displays.@@@@1@35@@oe@2-2-2013
21915031@unknown@formal@none@1@S@A spokesman said sales are expected to be hurt, but the losses are covered by insurance.@@@@1@16@@oe@2-2-2013
21915032@unknown@formal@none@1@S@CHEVRON CORP., San Francisco, oil company, annual sales of $25.2 billion, NYSE, had minor damage to downtown headquarters, but structural damage closed two of its seven buildings in San Ramone industrial park.@@@@1@32@@oe@2-2-2013
21915033@unknown@formal@none@1@S@Company expects to be fully operational by next week.@@@@1@9@@oe@2-2-2013
21915034@unknown@formal@none@1@S@CLOROX Co., Oakland, consumer products, annual sales of $1.36 billion, NYSE, was closed yesterday but plans to reopen today or tomorrow.@@@@1@21@@oe@2-2-2013
21915035@unknown@formal@none@1@S@Meanwhile, orders are being routed through Kingsford Products unit in Louisville, Ky., but computer problems mean they must be processed manually.@@@@1@21@@oe@2-2-2013
21915036@unknown@formal@none@1@S@Expects to be fully operational early next week.@@@@1@8@@oe@2-2-2013
21915037@unknown@formal@none@1@S@COHERENT INC., Palo Alto, laser maker, annual sales of $159 million, was closed yesterday but expects to reopen today.@@@@1@19@@oe@2-2-2013
21915038@unknown@formal@none@1@S@CONSOLIDATED FREIGHTWAYS INC., Menlo Park, trucking company, $2.69 billion in annual sales, NYSE, had structural damage to CF Motor Freight subsidiary's office in Palo Alto, no damage in Menlo Park.@@@@1@30@@oe@2-2-2013
21915039@unknown@formal@none@1@S@COOPER COMPANIES INC., Palo Alto, medical products maker, annual sales of $628 million, NYSE, had little damage and was in full operation yesterday.@@@@1@23@@oe@2-2-2013
21915040@unknown@formal@none@1@S@DAYTON HUDSON CORP., Minneapolis, retailer, annual sales of $12.2 billion, NYSE, closed seven of its 13 Bay-area Target discount stores and nine of its 20 Mervyn's department stores because of pending reviews by structural engineers or requests from authorities, who were trying to keep shoppers off the freeways.@@@@1@48@@oe@2-2-2013
21915041@unknown@formal@none@1@S@The company expects to reopen three Target stores and all but two Mervyn's today or tomorrow.@@@@1@16@@oe@2-2-2013
21915042@unknown@formal@none@1@S@DIASONICS INC., South San Francisco, maker of magnetic resonance imaging equipment, annual sales of $281 million, Amex, had minor damage, mostly in a stockroom.@@@@1@24@@oe@2-2-2013
21915043@unknown@formal@none@1@S@The company plans to be fully operational today.@@@@1@8@@oe@2-2-2013
21915044@unknown@formal@none@1@S@DIGITAL EQUIPMENT CORP., Maynard, Mass., computer maker, annual sales of $12.7 billion, NYSE, had structural damage at its San Francisco sales office but no appreciable damage elsewhere in the area, including its Cupertino plant.@@@@1@34@@oe@2-2-2013
21915045@unknown@formal@none@1@S@DREYER'S GRAND ICE CREAM INC., Oakland, ice cream maker, annual sales of $225 million, OTC, said it is delivering ice cream wherever roads are passable.@@@@1@25@@oe@2-2-2013
21915046@unknown@formal@none@1@S@EVEREX SYSTEMS INC., Fremont, maker of personal computers and peripherals, annual sales of $377 million, OTC, had minor damage and was almost fully operational yesterday.@@@@1@25@@oe@2-2-2013
21915047@unknown@formal@none@1@S@EXXON Corp., New York, oil company, NYSE, said its refinery northeast of San Francisco was operating at a slightly reduced rate as a precaution in case of aftershocks.@@@@1@28@@oe@2-2-2013
21915048@unknown@formal@none@1@S@FORD MOTOR CO., Dearborn, Mich., auto maker, annual sales of $92.4 billion, NYSE, said its three Ford Aerospace unit facilities in the Bay area, including a satellite-assembly operation in Palo Alto, had no major damage.@@@@1@35@@oe@2-2-2013
21915049@unknown@formal@none@1@S@GAP Inc., San Bruno, clothing retailer, annual sales of $1.25 billion, NYSE, expects most of its stores to return to full operation and all 2,500 of its Bay-area workers to be back at work by today.@@@@1@36@@oe@2-2-2013
21915050@unknown@formal@none@1@S@GENENTECH INC., South San Francisco, biotechnology company, annual sales of $334.8 million, NYSE, sustained no major damage and expects to be fully operational today.@@@@1@24@@oe@2-2-2013
21915051@unknown@formal@none@1@S@GENERAL ELECTRIC CO., Fairfield, Conn., consumer, industrial products and broadcasting concern, annual sales of $50 billion, NYSE, said its GE Nuclear Energy unit, with 1,600 Bay-area employees, had only minor damage at its San Jose headquarters.@@@@1@36@@oe@2-2-2013
21915052@unknown@formal@none@1@S@Business wasn't disrupted.@@@@1@3@@oe@2-2-2013
21915053@unknown@formal@none@1@S@GENERAL MOTORS CORP., Detroit, auto maker, annual sales of $123.6 billion, NYSE, sustained about 10 injuries to workers and some ruptured water mains at its New United Motor Manufacturing Inc. facility in Fremont, a joint venture with Toyota Motor Corp.@@@@1@40@@oe@2-2-2013
21915054@unknown@formal@none@1@S@There was limited production of some models yesterday, but it wasn't clear when the normal 750-car-a-day pace will resume.@@@@1@19@@oe@2-2-2013
21915055@unknown@formal@none@1@S@Plant officials are still assessing damage to parts suppliers and Port of Oakland facilities that handle shipments to the plant.@@@@1@20@@oe@2-2-2013
21915056@unknown@formal@none@1@S@GOLDEN WEST FINANCIAL CORP., Oakland, savings and loan, annual revenue of $1.4 billion, NYSE, had only minor damage to a few branches and no injured employees.@@@@1@26@@oe@2-2-2013
21915057@unknown@formal@none@1@S@HEWLETT-PACKARD Co., Palo Alto, personal computer and electronic equipment maker, annual sales of $9.8 billion, NYSE, said there will be a "minimal suspension" of manufacturing for an undefined period.@@@@1@29@@oe@2-2-2013
21915058@unknown@formal@none@1@S@The computer system was operating, so orders could be taken.@@@@1@10@@oe@2-2-2013
21915059@unknown@formal@none@1@S@The company has 18,000 employees and more than 70 buildings in the Bay area.@@@@1@14@@oe@2-2-2013
21915060@unknown@formal@none@1@S@One building in Palo Alto may be damaged beyond repair.@@@@1@10@@oe@2-2-2013
21915061@unknown@formal@none@1@S@Others had lesser damage and there were no injuries among workers.@@@@1@11@@oe@2-2-2013
21915062@unknown@formal@none@1@S@Damage will be "easily in the millions," the company said.@@@@1@10@@oe@2-2-2013
21915063@unknown@formal@none@1@S@HEXCEL Corp., Dublin, manufacturer of engineered parts, annual sales of $399 million, NYSE, had little damage beyond some phone trouble.@@@@1@20@@oe@2-2-2013
21915064@unknown@formal@none@1@S@HOMESTAKE MINING CO., San Francisco, gold and general miner, annual sales of $432.6 million, NYSE, said its headquarters was closed yesterday because of power failures and lack of water, but that it may reopen today.@@@@1@35@@oe@2-2-2013
21915065@unknown@formal@none@1@S@It expects any impact on its business to be slight.@@@@1@10@@oe@2-2-2013
21915066@unknown@formal@none@1@S@HOMESTEAD FINANCIAL CORP., Millbrae, financial services concern, annual revenue of $562 million, OTC, said three of its 17 Bay-area branches were closed yesterday.@@@@1@23@@oe@2-2-2013
21915067@unknown@formal@none@1@S@The company expects all branches to reopen today.@@@@1@8@@oe@2-2-2013
21915068@unknown@formal@none@1@S@INMAC CORP., Santa Clara, maker of computer accessories, annual sales of $250 million, OTC, said telephones were out at its headquarters but service should be restored by today.@@@@1@28@@oe@2-2-2013
21915069@unknown@formal@none@1@S@The company said it was doing a brisk business in computer power-surge protectors, cables and uninterruptable power sources.@@@@1@18@@oe@2-2-2013
21915070@unknown@formal@none@1@S@INTEL Corp., Santa Clara, semiconductor maker, annual sales of $2.87 billion, OTC, had some damage and few people were at work yesterday.@@@@1@22@@oe@2-2-2013
21915071@unknown@formal@none@1@S@INTERNATIONAL BUSINESS MACHINES Corp, Armonk, N.Y., maker of business machines, NYSE, said flooding caused by broken water pipes closed its San Jose plant, which makes high-end data-storage devices.@@@@1@28@@oe@2-2-2013
21915072@unknown@formal@none@1@S@The plant and its 8,500 employees gradually will resume operations over the next several days, the company said.@@@@1@18@@oe@2-2-2013
21915073@unknown@formal@none@1@S@Also closed yesterday were the company's Santa Teresa software-development lab and the Almaden research center.@@@@1@15@@oe@2-2-2013
21915074@unknown@formal@none@1@S@The concern's National Service Division opened a center for emergency service in Walnut Creek as part of its disaster-recovery plan.@@@@1@20@@oe@2-2-2013
21915075@unknown@formal@none@1@S@KAISER ALUMINUM & CHEMICAL, Oakland, metal and chemical maker, annual sales of $2.22 billion, had slight structural damage to its 28-story headquarters building and employees stayed home yesterday to allow crews to clean up.@@@@1@34@@oe@2-2-2013
21915076@unknown@formal@none@1@S@LOCKHEED CORP., Calabasas, aerospace and defense concern, annual sales of $10.59 billion, NYSE, said its Lockheed Missiles & Space division closed its Santa Cruz test facility because of power outages and landslides.@@@@1@32@@oe@2-2-2013
21915077@unknown@formal@none@1@S@The closing, affecting 266 employees, will continue at least until roads are cleared.@@@@1@13@@oe@2-2-2013
21915078@unknown@formal@none@1@S@It wasn't known to what extent, if any, the facility was damaged.@@@@1@12@@oe@2-2-2013
21915079@unknown@formal@none@1@S@It also wasn't known what the impact will be on the division's work, which includes the Navy's Trident submarine-based missile program and the Air Force's Strategic Defense Initiative.@@@@1@28@@oe@2-2-2013
21915080@unknown@formal@none@1@S@The division had only minor damage at its Sunnyvale headquarters and plant in Palo Altos, and no delays in deliveries are expected.@@@@1@22@@oe@2-2-2013
21915081@unknown@formal@none@1@S@LONGS DRUG STORES INC., Walnut Creek, drugstore chain, annual sales of $1.9 billion, NYSE, had only minor damage and only four of its 75 Bay-area stores, all in the Santa Cruz area, were closed.@@@@1@34@@oe@2-2-2013
21915082@unknown@formal@none@1@S@All are expected to reopen soon.@@@@1@6@@oe@2-2-2013
21915083@unknown@formal@none@1@S@LSI LOGIC CORP., Milpitas, maker of customized integrated circuits, annual sales of $550 million, NYSE, has halted manufacturing at its three plants in the area while they are inspected for structural damage.@@@@1@32@@oe@2-2-2013
21915084@unknown@formal@none@1@S@The company expects to resume full operations by today.@@@@1@9@@oe@2-2-2013
21915085@unknown@formal@none@1@S@R.H. MACY & Co., New York, retailer, annual sales of $7 billion, said there was minor damage to its 24 Macy stores and nine I. Magnin stores in the Bay area.@@@@1@31@@oe@2-2-2013
21915086@unknown@formal@none@1@S@MEASUREX CORP., Cupertino, maker of computer integrated manufacturing processes, annual sales of $265 million, NYSE, had only minor damage but workers spent most of yesterday cleaning up.@@@@1@27@@oe@2-2-2013
21915087@unknown@formal@none@1@S@NATIONAL SEMICONDUCTOR CORP., Santa Clara, semiconductor maker, annual sales of $1.65 billion, NYSE, said it had no major structural damage at its 30 Bay-area buildings, but two workers were injured.@@@@1@30@@oe@2-2-2013
21915088@unknown@formal@none@1@S@Production resumed yesterday.@@@@1@3@@oe@2-2-2013
21915089@unknown@formal@none@1@S@Piping in a waste-treatment plant needed immediate repairs.@@@@1@8@@oe@2-2-2013
21915090@unknown@formal@none@1@S@NORDSTROM INC., Seattle, retailer, annual sales $2.33 billion, OTC, five of this 59-store chain's nine stores in the Bay Area were closed yesterday, damage appears primarily cosmetic, hopes to reopen four of the stores by today and the fifth by Saturday.@@@@1@41@@oe@2-2-2013
21915091@unknown@formal@none@1@S@ORACLE SYSTEMS CORP., Belmont, provider of computer programming and software services, annual sales $584 million, four of 12 offices and buildings in the Belmont and San Mateo areas were closed, 95% of computer and telephone systems are operating, expects to be back to full operation by the end of the week.@@@@1@51@@oe@2-2-2013
21915092@unknown@formal@none@1@S@PACIFIC GAS & ELECTRIC CO., San Francisco, electric, gas and water supplier, annual sales $7.6 billion, some minor damage to headquarters, undetermined damage to four nearby substations, severe structural damage to a major power plant at Moss Landing, extensive damage to gas lines and electric lines, 400,000 residences without electricity and 69,000 without gas, cannot reconnect electricity until it is certain there are no gas leaks, no predictions on when this will happen.@@@@1@73@@oe@2-2-2013
21915093@unknown@formal@none@1@S@PACIFIC TELESIS GROUP, San Francisco, telecommunications holding company, annual sales of $9.5 billion, no damage to headquarters, but no power, the power failure has caused a delay in the release of the company's earnings report, major concern is subsidiaries, Pacific Bell and Pacific Telesis Cellular, both of which sustained damage to buildings, structural damage to several cellular sites in Santa Cruz, volume of calls on cellular phones 10 times the usual, causing a big slowdown.@@@@1@75@@oe@2-2-2013
21915094@unknown@formal@none@1@S@PROCTER & GAMBLE CO., Cincinnati-based company's Folgers Coffee plant in South San Francisco was closed following the earthquake, no injuries or major damage, other plants around country can make up for any lost production.@@@@1@34@@oe@2-2-2013
21915095@unknown@formal@none@1@S@QUANTUM CORP., Milpitas, manufactures rigid disc drives for small business computers, word processors, annual sales $120.8 million, OTC, open for business, minor structural damage.@@@@1@24@@oe@2-2-2013
21915096@unknown@formal@none@1@S@RAYCHEM CORP., Menlo Park, plastics manufacturer, annual sales $1 billion, no major damage and no production slowdown is anticipated.@@@@1@19@@oe@2-2-2013
21915097@unknown@formal@none@1@S@ROSS STORES INC., Newark, discount apparel chain, annual sales $576 million, two of 28 stores in Bay Area closed, both could open as early as today.@@@@1@26@@oe@2-2-2013
21915098@unknown@formal@none@1@S@SAFEWAY STORES INC., Oakland, retail food chain, annual sales of $13.6 billion, some structural damage to headquarters and no power; major problems transporting products to those stores that remained open; no numbers on how many stores closed.@@@@1@37@@oe@2-2-2013
21915099@unknown@formal@none@1@S@CHARLES SCHWAB & CO., San Francisco, discount brokerage firm, annual sales of $392 million, had only minor damage to headquarters building and was up and running for yesterday's market open.@@@@1@30@@oe@2-2-2013
21915100@unknown@formal@none@1@S@Firm will not, however, resume 24-hour service until power in city is restored.@@@@1@13@@oe@2-2-2013
21915101@unknown@formal@none@1@S@Office closed yesterday at 4:30 p.m. EDT.@@@@1@7@@oe@2-2-2013
21915102@unknown@formal@none@1@S@SEAGATE TECHNOLOGY, Scotts Valley, maker of hard disk drives for computers, annual sales of $1.37 billion, OTC, closed to assess what appeared to be minor damage to some of its 20 buildings.@@@@1@32@@oe@2-2-2013
21915103@unknown@formal@none@1@S@SOUTHERN PACIFIC TRANSPORTATION CO., San Francisco, railroad, annual sales of $2.41 billion, had only minor damage to headquarters and tracks, and expects to be fully operational tomorrow.@@@@1@27@@oe@2-2-2013
21915104@unknown@formal@none@1@S@St. Louis Southwestern Railway Co. unit halted all service Tuesday night but has since restored some freight lines and limited commuter service between San Francisco and San Jose.@@@@1@28@@oe@2-2-2013
21915105@unknown@formal@none@1@S@SUN MICROSYSTEMS INC., Mountain View, maker of desktop computers, annual sales $1.77 billion, OTC, no injured employees and very little damage to buildings.@@@@1@23@@oe@2-2-2013
21915106@unknown@formal@none@1@S@Closed yesterday due to power difficulties.@@@@1@6@@oe@2-2-2013
21915107@unknown@formal@none@1@S@TANDEM COMPUTERS INC., Cupertino, computer maker, annual sales of $1.6 billion, NYSE, said it had no significant damage and should be fully operational within a week.@@@@1@26@@oe@2-2-2013
21915108@unknown@formal@none@1@S@Many employees stayed home yesterday, but customer service was being maintained.@@@@1@11@@oe@2-2-2013
21915109@unknown@formal@none@1@S@TRANSAMERICA CORP., San Francisco, financial services and insurance company, annual sales of $7.9 billion, NYSE, said its headquarters, the well-known downtown pyramid-shaped building, was intact but closed yesterday.@@@@1@28@@oe@2-2-2013
21915110@unknown@formal@none@1@S@VARIAN ASSOCIATES INC., Palo Alto, instrumentation and semiconductor equipment company, annual sales of $1.3 billion, had only minor damage and no slowdowns were anticipated.@@@@1@24@@oe@2-2-2013
21915111@unknown@formal@none@1@S@VLSI TECHNOLOGY INC., San Jose, maker of semiconductor products, annual sales $171.9 million, OTC, minimal damage to facilities, no injuries, expected operations to return to normal late yesterday.@@@@1@28@@oe@2-2-2013
21915112@unknown@formal@none@1@S@WATKINS-JOHNSON CO., defense-oriented electronics manufacturer, annual sales $292 million, NYSE, minor damage to headquarters and plant in Palo Alto, no damage to San Jose plant, "still assessing" damage at Scotts Valley plant, where main product is furnaces for semiconductor production.@@@@1@40@@oe@2-2-2013
21915113@unknown@formal@none@1@S@WELLS FARGO & CO., San Francisco, bank holding company, annual revenue $4.9 billion, NYSE, minor damage at headquarters, 12 branches out of 170 in Northern California sustained structural damage that will preclude them from opening in the near future, 45 locations with at least one automatic teller machine inoperable, central computer systems are operating, no injuries.@@@@1@56@@oe@2-2-2013
21915114@unknown@formal@none@1@S@WYSE TECHNOLOGY INC., San Jose, maker of video display terminals and workstations and IBM/PC compatible computers, annual sales of $452 million, slight structural damage at headquarters, no injuries, expects to be back to full operation today.@@@@1@36@@oe@2-2-2013
21915115@unknown@formal@none@1@S@3COM CORP., Santa Clara, maker of computer communications systems, annual sales of $386 million, OTC, slight structural damage to headquarters, communications systems already fully operational.@@@@1@25@@oe@2-2-2013
21916001@unknown@formal@none@1@S@Could the collapse of I-880 have been prevented?@@@@1@8@@oe@2-2-2013
21916002@unknown@formal@none@1@S@That was the question structural engineers and California transportation officials were asking themselves yesterday as rescue workers began the gruesome task of trying to extract as many as 250 victims from beneath the concrete slabs of the double-deck Nimitz Freeway in Oakland that caved in during Tuesday's temblor.@@@@1@48@@oe@2-2-2013
21916003@unknown@formal@none@1@S@After touring the area, California Gov. George Deukmejian late yesterday called for an inquiry into the freeway's collapse, blaming the disaster on substandard construction, the Associated Press reported.@@@@1@28@@oe@2-2-2013
21916004@unknown@formal@none@1@S@The impact of the destruction of this 2.5-mile stretch of highway was tragically measured in lost lives.@@@@1@17@@oe@2-2-2013
21916005@unknown@formal@none@1@S@But there are other long-term effects that raise serious questions about the ability of California's infrastructure to withstand a major temblor.@@@@1@21@@oe@2-2-2013
21916006@unknown@formal@none@1@S@It could easily be two years before the well-traveled artery that helps connect Oakland with San Francisco is reopened, and the cost to build a new stretch of highway could soar to more than $250 million, said Charles J. O'Connell, deputy district director in Los Angeles of the California Department of Transportation, nicknamed Caltrans.@@@@1@54@@oe@2-2-2013
21916007@unknown@formal@none@1@S@Caltrans in Sacramento said total damage from the collapsed highway is estimated at around $500 million.@@@@1@16@@oe@2-2-2013
21916008@unknown@formal@none@1@S@The aftershocks of the highway tragedy are reverberating in Los Angeles as well, as local politicians spoke yesterday against plans to bring double-decking to Los Angeles freeways by 1994.@@@@1@29@@oe@2-2-2013
21916009@unknown@formal@none@1@S@Caltrans plans to add a second deck for buses and car pools above the median of a 2.5-mile stretch of the Harbor Freeway just south of Los Angeles, near the Memorial Coliseum.@@@@1@32@@oe@2-2-2013
21916010@unknown@formal@none@1@S@Los Angeles County Supervisor Kenneth Hahn yesterday vowed to fight the introduction of double-decking in the area.@@@@1@17@@oe@2-2-2013
21916011@unknown@formal@none@1@S@Caltrans abandoned double-decking in the early 1970s, following the 1971 Sylmar earthquake that destroyed freeway sections just north of Los Angeles, Mr. O'Connell explained.@@@@1@24@@oe@2-2-2013
21916012@unknown@formal@none@1@S@That temblor measured 6.1 on the Richter scale; Tuesday's was@@@@1@10@@oe@2-2-2013
21916013@unknown@formal@none@1@S@So why even consider stacking freeways now?@@@@1@7@@oe@2-2-2013
21916014@unknown@formal@none@1@S@"We've run out of places to build freeways in L.A., and the only place to go is up," Mr. O'Connell said, although he acknowledges there are many obstacles, including cost.@@@@1@30@@oe@2-2-2013
21916015@unknown@formal@none@1@S@But as for safety, he says double-deck freeways built today with the heavily reinforced concrete and thicker columns required after the Sylmar quake should withstand a calamitous temblor of 7.5 to 8 on the Richter scale.@@@@1@36@@oe@2-2-2013
21916016@unknown@formal@none@1@S@Reasons for the collapse of the Nimitz Freeway were sketchy yesterday.@@@@1@11@@oe@2-2-2013
21916017@unknown@formal@none@1@S@But most structural engineers attributed the destruction to improper reinforcement of the columns that supported the decks, and the fact that the ground beneath the highway is largely landfill and can become unstable, or "liquefy," in a major quake.@@@@1@39@@oe@2-2-2013
21916018@unknown@formal@none@1@S@The two-story roadway, designed in the mid-1940s and completed in 1957, was supported by columns that apparently lacked the kind of steel reinforcement used in highways today.@@@@1@27@@oe@2-2-2013
21916019@unknown@formal@none@1@S@While the pillars did have long metal bars running vertically through them for reinforcement, they apparently lacked an adequate number of metal "ties" that run horizontally through the column, said Leo Parker, a structural engineer in Los Angeles.@@@@1@38@@oe@2-2-2013
21916020@unknown@formal@none@1@S@Caltrans today uses a variation of the design Mr. Parker describes, with spiraling steel rods inside.@@@@1@16@@oe@2-2-2013
21916021@unknown@formal@none@1@S@But in the case of the Nimitz Freeway, the lack of such support caused the core of the columns to crumble and buckle under the weight of the second deck, crushing motorists who were lined up in bumper-to-bumper rush-hour traffic on the lower deck nearly 15 feet below.@@@@1@48@@oe@2-2-2013
21916022@unknown@formal@none@1@S@Officials of the state agency didn't have any immediate explanation why the reinforcement didn't hold up.@@@@1@16@@oe@2-2-2013
21916023@unknown@formal@none@1@S@Caltrans reinforced the highway in 1977 as part of a $55 million statewide project, using steel cables to tie the decks of the freeway to the columns and prevent the structure from swaying in a quake.@@@@1@36@@oe@2-2-2013
21916024@unknown@formal@none@1@S@Caltrans spokesman Jim Drago in Sacramento declined to identify the engineering firm that did the reinforcement work.@@@@1@17@@oe@2-2-2013
21916025@unknown@formal@none@1@S@Liability in the bridge and road collapses will revolve around whether government took "reasonable care" to build and maintain the structures, says John Messina, a Tacoma, Wash., personal-injury attorney who specializes in highway design and maintenance cases.@@@@1@37@@oe@2-2-2013
21916026@unknown@formal@none@1@S@The firm brought in to strengthen the structure could be liable as well.@@@@1@13@@oe@2-2-2013
21916027@unknown@formal@none@1@S@The results of the quake certainly raise questions about whether reasonable care was taken, Mr. Messina says.@@@@1@17@@oe@2-2-2013
21916028@unknown@formal@none@1@S@Given the seismic history of the Bay Area, "it seems to me that a 6.9 earthquake is a foreseeable event."@@@@1@20@@oe@2-2-2013
21916029@unknown@formal@none@1@S@Caltrans' Mr. Drago defended the agency's work on the Nimitz Freeway.@@@@1@11@@oe@2-2-2013
21916030@unknown@formal@none@1@S@"The work was done properly," he said.@@@@1@7@@oe@2-2-2013
21916031@unknown@formal@none@1@S@"Basically, we had a severe earthquake of significant duration and it was just something the structure couldn't withstand."@@@@1@18@@oe@2-2-2013
21916032@unknown@formal@none@1@S@Ironically, Caltrans this year began working on a second round of seismic reinforcements of freeways around the state, this time wrapping freeway columns in "steel blankets" to reinforce them.@@@@1@29@@oe@2-2-2013
21916033@unknown@formal@none@1@S@But only bridges supported with single rows of columns were top priority, and the Nimitz Freeway, supported by double rows, was left out, Mr. Drago explained.@@@@1@26@@oe@2-2-2013
21916034@unknown@formal@none@1@S@"The reason is that the technology is such that we're not able to retrofit multi-column structures," he said.@@@@1@18@@oe@2-2-2013
21916035@unknown@formal@none@1@S@Charles McCoy in San Francisco and John R. Emshwiller in Los Angeles contributed to this article.@@@@1@16@@oe@2-2-2013
21917001@unknown@formal@none@1@S@Lionel Corp.'s board unanimously rejected a tender offer of $8 a share, or $95.4 million, for as much as 90% of Lionel by a group with a 9.9% stake in the toy retailer.@@@@1@33@@oe@2-2-2013
21917002@unknown@formal@none@1@S@Lionel also urged holders of its stock and debt not to tender their securities, saying it wants to remain independent to pursue its business strategy.@@@@1@25@@oe@2-2-2013
21917003@unknown@formal@none@1@S@Lionel also said the offer by Robert I. Toussie Limited Partnership is inadequate, and full of conditions that leave it "subject to substantial uncertainty."@@@@1@24@@oe@2-2-2013
21917004@unknown@formal@none@1@S@In addition, Lionel began a lawsuit in federal District Court in New York seeking to enjoin the offer, alleging, among other things, violations of federal securities law and fraudulent manipulation of the market for Lionel's securities.@@@@1@36@@oe@2-2-2013
21917005@unknown@formal@none@1@S@Robert I. Toussie, general partner of the investment group, said the Lionel response reflected management's entrenched position, saying officials had failed to come up with a better alternative to his group's offer.@@@@1@32@@oe@2-2-2013
21917006@unknown@formal@none@1@S@Mr. Toussie said he would respond to Lionel's suit after his lawyers review it.@@@@1@14@@oe@2-2-2013
21918001@unknown@formal@none@1@S@Efforts by a federal mediator to reignite talks between Boeing Co. and the Machinists union apparently failed, and no further meetings are scheduled.@@@@1@23@@oe@2-2-2013
21918002@unknown@formal@none@1@S@Company officials and union representatives didn't meet face to face, but the mediator shuttled between the two groups.@@@@1@18@@oe@2-2-2013
21918003@unknown@formal@none@1@S@In a statement issued after the meeting, the aerospace giant said it won't increase its offer although adjustments within the proposed pay-and-benefit mix are possible.@@@@1@25@@oe@2-2-2013
21918004@unknown@formal@none@1@S@Machinists already have rejected a proposal that called for a 4% pay increase and 8% bonus in the first year.@@@@1@20@@oe@2-2-2013
21918005@unknown@formal@none@1@S@In the second year, workers would receive a 3% wage boost and a 3% bonus, followed by a 3% increase without a bonus in the third year.@@@@1@27@@oe@2-2-2013
21918006@unknown@formal@none@1@S@"The company will not budge on anything," said a spokesman for the union.@@@@1@13@@oe@2-2-2013
21918007@unknown@formal@none@1@S@As the strike enters its 15th day today, some members are getting nervous, the spokesman conceded, but the majority of the 55,000 Machinists are prepared to "wait it out as long as it takes.@@@@1@34@@oe@2-2-2013
21919001@unknown@formal@none@1@S@United Merchants & Manufacturers Inc. said its president, Uzi Ruskin, withdrew his proposal to acquire control of the New York textile and clothing company.@@@@1@24@@oe@2-2-2013
21919002@unknown@formal@none@1@S@Last month, Mr. Ruskin proposed, among other things, to buy 3.5 million shares, or 38%, for $4 apiece.@@@@1@18@@oe@2-2-2013
21919003@unknown@formal@none@1@S@Coupled with his current 1.2 million shares and 4% held by an associate, the stake would have given him control of 55% of the concern.@@@@1@25@@oe@2-2-2013
21919004@unknown@formal@none@1@S@In a Securities and Exchange Commission filing, Mr. Ruskin had said that holders of the other 45% of United Merchants would receive one-half share of a new preferred stock for each of their shares.@@@@1@34@@oe@2-2-2013
21919005@unknown@formal@none@1@S@A special committee of United Merchants directors said that in view of uncertainties regarding various legal and financial considerations, it couldn't recommend the plan to the full board.@@@@1@28@@oe@2-2-2013
21919006@unknown@formal@none@1@S@The company is exploring, with a major financial institution, the development of a plan to boost the value of the company for its holders, Mr. Ruskin said.@@@@1@27@@oe@2-2-2013
21919007@unknown@formal@none@1@S@In a separate SEC filing, Albert Safer, who holds 6.46% of United Merchants, said he retained investment bank Lazard Freres & Co. for advice as he evaluates the possibility of making a bid for the textile maker.@@@@1@37@@oe@2-2-2013
21919008@unknown@formal@none@1@S@On Friday, Mr. Safer, a Newark, N.J., textile businessman, signed a confidentiality agreement under which United Merchants would provide him with nonpublic information.@@@@1@23@@oe@2-2-2013
21920001@unknown@formal@none@1@S@The White House is making sure nobody will accuse it of taking this crisis lightly.@@@@1@15@@oe@2-2-2013
21920002@unknown@formal@none@1@S@In the aftermath of the California earthquake, President Bush and his aides flew into a whirlwind of earthquake-related activity yesterday morning.@@@@1@21@@oe@2-2-2013
21920003@unknown@formal@none@1@S@Some of it was necessary to get federal help flowing to victims, but some seemed designed mostly to project an image of a White House in action.@@@@1@27@@oe@2-2-2013
21920004@unknown@formal@none@1@S@Mr. Bush and his aides were accused of responding too slowly after the Exxon Valdez oil tanker split open in Alaskan waters and Hurricane Hugo struck the Carolina coast, and they clearly don't want a repeat of those charges now.@@@@1@40@@oe@2-2-2013
21920005@unknown@formal@none@1@S@So the White House announced that Mr. Bush got his first earthquake briefing of the day at 6:30 a.m. from chief of staff John Sununu.@@@@1@25@@oe@2-2-2013
21920006@unknown@formal@none@1@S@By noon, Mr. Bush had taken two phone calls from Vice President Dan Quayle, who was in California; made a televised statement of concern; signed a disaster proclamation; received a written report from the Federal Emergency Management Agency; and visited FEMA headquarters.@@@@1@42@@oe@2-2-2013
21920007@unknown@formal@none@1@S@Mr. Bush himself essentially acknowledged that he and his aides were trying to head off criticism.@@@@1@16@@oe@2-2-2013
21920008@unknown@formal@none@1@S@On his FEMA visit, Mr. Bush said that he hoped there would be "less carping" about the emergency office's performance this time, adding that the agency "took a hit" for its reaction to Hurricane Hugo.@@@@1@35@@oe@2-2-2013
21920009@unknown@formal@none@1@S@The White House already is talking of Mr. Bush visiting the California earthquake site this weekend.@@@@1@16@@oe@2-2-2013
21920010@unknown@formal@none@1@S@He visited the Hugo devastation but not until after local leaders urged him to do so.@@@@1@16@@oe@2-2-2013
21921001@unknown@formal@none@1@S@Beazer PLC, a major British building materials and construction concern, reported a 24% jump in pretax profit for its latest financial year, helped largely by contributions from its U.S. unit, Koppers Co.@@@@1@32@@oe@2-2-2013
21921002@unknown@formal@none@1@S@Pretax profit for the year to June 30 rose to #142.5 million ($224.5 million) from #114.7 million ($180.7 million), broadly matching analysts' expectations.@@@@1@23@@oe@2-2-2013
21921003@unknown@formal@none@1@S@Profit after taxes and minority interests but before extraordinary items increased 22% to #92.6 million from #75.6 million a year earlier, while fully diluted earnings per share rose to 29.90 pence (47 cents) from 24.68 pence (39 cents).@@@@1@38@@oe@2-2-2013
21922001@unknown@formal@none@1@S@The lethal shudders that wracked the San Francisco Bay Area -- rated a 6.9 on the Richter scale -- didn't match the great earthquake of 1906, rated at 8.25.@@@@1@29@@oe@2-2-2013
21922002@unknown@formal@none@1@S@The difference of just 1.35 points on the scale, designed by Charles Richter of CalTech in the 1930s, means the older quake was "10 to 20 times stronger," says Lane Johnson, director of the University of California Berkeley Seismographic Station.@@@@1@40@@oe@2-2-2013
21922003@unknown@formal@none@1@S@The ground ruptured along a 20-to-30-mile stretch of the San Andreas Fault on Tuesday, Mr. Johnson added.@@@@1@17@@oe@2-2-2013
21922004@unknown@formal@none@1@S@In 1906, the rupture was 300 miles long and a couple feet wide.@@@@1@13@@oe@2-2-2013
21922005@unknown@formal@none@1@S@Though the epicenter of Tuesday's temblor was located 10 miles north of the town of Santa Cruz, and 50 miles south of San Francisco, its havoc hopscotched up the coast in seemingly random fashion.@@@@1@34@@oe@2-2-2013
21922006@unknown@formal@none@1@S@But the greatest damage was visited on buildings and roadways perched upon landfill, as were the Marina District of San Francisco and the Bay Bridge -- two areas of maximum devastation.@@@@1@31@@oe@2-2-2013
21922007@unknown@formal@none@1@S@"Landfill -- loose and unconsolidated earth -- may feel like rock but it behaves like liquid when you shake it," said Douglas Segar, professor of geosciences at San Francisco State University in a televised interview.@@@@1@35@@oe@2-2-2013
21922008@unknown@formal@none@1@S@"It liquefies in a patchwork quilt pattern.@@@@1@7@@oe@2-2-2013
21922009@unknown@formal@none@1@S@Our quake behaved much like the Mexico City earthquake, where great damage was miles from the epicenter."@@@@1@17@@oe@2-2-2013
21922010@unknown@formal@none@1@S@Mr. Johnson, of the Berkeley seismographic station, said: "Landfill can be done if it's properly compacted.@@@@1@16@@oe@2-2-2013
21922011@unknown@formal@none@1@S@You can drive piles on it and build on it."@@@@1@10@@oe@2-2-2013
21922012@unknown@formal@none@1@S@He cited the example of San Francisco's financial district, where many new glass towers survived almost unscathed.@@@@1@17@@oe@2-2-2013
21922013@unknown@formal@none@1@S@But the public policy issues raised by earthquake damage will be difficult to address, Mr. Johnson predicted.@@@@1@17@@oe@2-2-2013
21922014@unknown@formal@none@1@S@"The attention span of the public is short," he said.@@@@1@10@@oe@2-2-2013
21922015@unknown@formal@none@1@S@"We've known for years and years we've got lots of old {pre-1950s} unreinforced brick and masonry buildings."@@@@1@17@@oe@2-2-2013
21922016@unknown@formal@none@1@S@One old building, the Golden State Bank Building on Front Street, had its yellow brick facade sheared off by the shock of the quake, leaving a wedge of its third floor open to the air, while piles of dusty bricks tumbled to the street below narrowly missing rush-hour pedestrians and cars.@@@@1@51@@oe@2-2-2013
21922017@unknown@formal@none@1@S@Reinforcing such old building stock, Mr. Johnson said, "comes down to money.@@@@1@12@@oe@2-2-2013
21922018@unknown@formal@none@1@S@It's a danger.@@@@1@3@@oe@2-2-2013
21922019@unknown@formal@none@1@S@We know it's there.@@@@1@4@@oe@2-2-2013
21922020@unknown@formal@none@1@S@And sooner or later, we have to do something about it."@@@@1@11@@oe@2-2-2013
21922021@unknown@formal@none@1@S@The urgency is heightened because this week's earthquake -- while major and followed by hundreds of aftershocks -- didn't release enough pent-up energy tension along the faultlines to preclude more and bigger quakes soon.@@@@1@34@@oe@2-2-2013
21922022@unknown@formal@none@1@S@"The big one is still due," Mr. Johnson predicted in an interview.@@@@1@12@@oe@2-2-2013
21922023@unknown@formal@none@1@S@"The Bay Area has three very dangerous faults, the San Andreas, the Hayward fault and the Calaveras fault.@@@@1@18@@oe@2-2-2013
21922024@unknown@formal@none@1@S@It {Tuesday's quake} hasn't solved our problem.@@@@1@7@@oe@2-2-2013
21922025@unknown@formal@none@1@S@In California, this is the reality.@@@@1@6@@oe@2-2-2013
21923001@unknown@formal@none@1@S@Coca-Cola Co. may be about to intensify the cola wars.@@@@1@10@@oe@2-2-2013
21923002@unknown@formal@none@1@S@Coke said it will test market a caffeine-free version of its flagship brand, Coca-Cola Classic, beginning next week in Charlotte, N.C.@@@@1@21@@oe@2-2-2013
21923003@unknown@formal@none@1@S@Other, as yet unnamed, cities will follow.@@@@1@7@@oe@2-2-2013
21923004@unknown@formal@none@1@S@If all goes well, the product will be rolled out for national sales sometime next year, a Coke spokesman said.@@@@1@20@@oe@2-2-2013
21923005@unknown@formal@none@1@S@After the confusion surrounding the change of the Coke formula in 1985, Coca-Cola was reluctant to clutter the Classic name with a brand extension.@@@@1@24@@oe@2-2-2013
21923006@unknown@formal@none@1@S@But now, the soft-drink giant appears willing to take the risk.@@@@1@11@@oe@2-2-2013
21923007@unknown@formal@none@1@S@"The name Classic Coke has tremendous value, and they haven't merchandised that name before," says Jesse Meyers, publisher of the trade journal Beverage Digest.@@@@1@24@@oe@2-2-2013
21923008@unknown@formal@none@1@S@The Coke spokesman said a caffeine-free Classic should help increase volume of the original brand.@@@@1@15@@oe@2-2-2013
21923009@unknown@formal@none@1@S@Indeed, analysts have said that the absence of new products, among other factors, has limited sales growth throughout the industry.@@@@1@20@@oe@2-2-2013
21923010@unknown@formal@none@1@S@Coke now leads Pepsi in market share in caffeine-free diet colas but trails Pepsi in sales of caffeine-free sugared colas, according to Beverage Digest.@@@@1@24@@oe@2-2-2013
21923011@unknown@formal@none@1@S@Coke introduced a caffeine-free sugared cola based on its original formula in 1983.@@@@1@13@@oe@2-2-2013
21923012@unknown@formal@none@1@S@It switched to a caffeine-free formula using its new Coke in 1985.@@@@1@12@@oe@2-2-2013
21923013@unknown@formal@none@1@S@Coke has been studying the possibility of introducing a caffeine-free Classic for a year, a company spokesman said.@@@@1@18@@oe@2-2-2013
21923014@unknown@formal@none@1@S@He said large increases in sales of other non-caffeine soft drinks make the timing right now.@@@@1@16@@oe@2-2-2013
21924001@unknown@formal@none@1@S@CALIFORNIA STRUGGLED with the aftermath of a Bay area earthquake.@@@@1@10@@oe@2-2-2013
21924002@unknown@formal@none@1@S@As aftershocks shook the San Francisco Bay area, rescuers searched through rubble for survivors of Tuesday's temblor, and residents picked their way through glass-strewn streets.@@@@1@25@@oe@2-2-2013
21924003@unknown@formal@none@1@S@In Oakland, hopes faded for finding any more survivors within the concrete and steel from the collapse of an interstate highway.@@@@1@21@@oe@2-2-2013
21924004@unknown@formal@none@1@S@At least 270 people were reported killed and 1,400 injured in the rush-hour tremor that caused billions of dollars of damage along 100 miles of the San Andreas fault.@@@@1@29@@oe@2-2-2013
21924005@unknown@formal@none@1@S@Bush declared the region a major disaster area and the military was mobilized to prevent looting.@@@@1@16@@oe@2-2-2013
21924006@unknown@formal@none@1@S@The baseball commissioner said the third game of the World Series between the Giants and the Athletics would be played Tuesday in Candlestick Park.@@@@1@24@@oe@2-2-2013
21924007@unknown@formal@none@1@S@HONECKER WAS OUSTED as leader of East Germany amid growing unrest.@@@@1@11@@oe@2-2-2013
21924008@unknown@formal@none@1@S@The 77-year-old official, who oversaw the building of the Berlin Wall, was removed during a meeting of the 163-member Communist Party Central Committee in East Berlin.@@@@1@26@@oe@2-2-2013
21924009@unknown@formal@none@1@S@Honecker, who was reported ill following gall-bladder surgery in August, said he was resigning for health reasons.@@@@1@17@@oe@2-2-2013
21924010@unknown@formal@none@1@S@He was succeeded by internal-security chief Egon Krenz, 52, a hard-liner who quickly ruled out any sharing of power with pro-democracy groups.@@@@1@22@@oe@2-2-2013
21924011@unknown@formal@none@1@S@Honecker's departure came after weeks of street protests and an exodus to the West of East Germans who had become disenchanted with his rule.@@@@1@24@@oe@2-2-2013
21924012@unknown@formal@none@1@S@HUNGARY ADOPTED constitutional changes to form a democratic system.@@@@1@9@@oe@2-2-2013
21924013@unknown@formal@none@1@S@At a nationally televised legislative session in Budapest, the Parliament overwhelmingly approved changes formally ending one-party domination in the country, regulating free elections by next summer and establishing the office of state president to replace a 21-member council.@@@@1@38@@oe@2-2-2013
21924014@unknown@formal@none@1@S@The country was renamed the Republic of Hungary.@@@@1@8@@oe@2-2-2013
21924015@unknown@formal@none@1@S@Like other Soviet bloc nations, it had been known as a "people's republic" since@@@@1@14@@oe@2-2-2013
21924016@unknown@formal@none@1@S@The voting for new laws followed dissolution of Hungary's Communist Party this month and its replacement by a Western-style Socialist Party.@@@@1@21@@oe@2-2-2013
21924017@unknown@formal@none@1@S@The space shuttle Atlantis blasted into orbit from Cape Canaveral, Fla., and its crew of five astronauts launched the nuclear-powered Galileo space probe on a flight to the planet Jupiter.@@@@1@30@@oe@2-2-2013
21924018@unknown@formal@none@1@S@The $1.4 billion robot spacecraft's exploratory mission is to take six years.@@@@1@12@@oe@2-2-2013
21924019@unknown@formal@none@1@S@The shuttle is slated to return Monday to California.@@@@1@9@@oe@2-2-2013
21924020@unknown@formal@none@1@S@South Korea's President Roh addressed a joint House-Senate meeting and urged patience over U.S. demands for the opening of Seoul's markets to more American goods, saying trade issues would be "resolved to mutual satisfaction."@@@@1@34@@oe@2-2-2013
21924021@unknown@formal@none@1@S@He also said tragic results could follow any "hint of weakening" of the U.S. defense commitment to Seoul.@@@@1@18@@oe@2-2-2013
21924022@unknown@formal@none@1@S@The Census Bureau reported that 13.1% of the U.S. population, or 31.9 million people, were living in poverty in 1988.@@@@1@20@@oe@2-2-2013
21924023@unknown@formal@none@1@S@Last year's figure was down from 13.4% in 1987 and marked the fifth consecutive annual decline in the poverty rate.@@@@1@20@@oe@2-2-2013
21924024@unknown@formal@none@1@S@Per capita income rose 1.7% to $13,120, but median family income fell 0.2%.@@@@1@13@@oe@2-2-2013
21924025@unknown@formal@none@1@S@The Bush administration accused Israeli Prime Minister Shamir of hindering peace efforts in the Mideast with "unhelpful" and disappointing statements.@@@@1@20@@oe@2-2-2013
21924026@unknown@formal@none@1@S@Shamir said Tuesday that he was prepared to risk a policy conflict with the U.S. over an Egyptian plan to hold direct Israeli-Palestinian talks, which the premier's Likud bloc opposes.@@@@1@30@@oe@2-2-2013
21924027@unknown@formal@none@1@S@Cuba was elected to the U.N. Security Council for the first time since its Castro-led revolution 30 years ago.@@@@1@19@@oe@2-2-2013
21924028@unknown@formal@none@1@S@The election was by secret ballot in the General Assembly.@@@@1@10@@oe@2-2-2013
21924029@unknown@formal@none@1@S@The U.S. didn't openly oppose Cuba's seating as the Latin American council delegate.@@@@1@13@@oe@2-2-2013
21924030@unknown@formal@none@1@S@Britain's Prime Minister Thatcher told a Commonwealth summit in Kuala Lumpur, Malaysia, that sanctions against South Africa were "utterly irresponsible," officials said.@@@@1@22@@oe@2-2-2013
21924031@unknown@formal@none@1@S@But other nations at the opening of the 49-nation meeting of Britain and its former colonies pressed for continued or stronger embargoes in an effort to end apartheid.@@@@1@28@@oe@2-2-2013
21924032@unknown@formal@none@1@S@Arab officials in Saudi Arabia said three-week-old talks by Lebanese lawmakers aimed at ending Lebanon's civil war appeared about to collapse.@@@@1@21@@oe@2-2-2013
21924033@unknown@formal@none@1@S@Christian legislators are insisting on a Syrian troop pullout from Lebanon before agreeing to political changes giving the nation's Moslems a greater role in Beirut's government.@@@@1@26@@oe@2-2-2013
21924034@unknown@formal@none@1@S@Colombia's judges launched a 72-hour strike to press security demands following Tuesday's murder of a High Court justice in Medellin.@@@@1@20@@oe@2-2-2013
21924035@unknown@formal@none@1@S@The country's narcotics traffickers claimed responsibility for the slaying.@@@@1@9@@oe@2-2-2013
21924036@unknown@formal@none@1@S@Most of the country's 20,000 judges and judicial employees joined the work stoppage.@@@@1@13@@oe@2-2-2013
21925001@unknown@formal@none@1@S@Charles S. Mitchell, a vice president with Homart Development Co., the real estate development subsidiary of Sears, Roebuck & Co., was named president of Figgie Properties, a real estate development unit.@@@@1@31@@oe@2-2-2013
21925002@unknown@formal@none@1@S@He succeeds William Kohut, who resigned earlier this year.@@@@1@9@@oe@2-2-2013
21925003@unknown@formal@none@1@S@Also, Richard A. Barkley, a former marketing executive with FMC Corp., was appointed president of Continental Container Systems, a producer of can closing machinery that Figgie acquired late last year.@@@@1@30@@oe@2-2-2013
21925004@unknown@formal@none@1@S@Figgie is a fire protection, electronics and industrial products concern.@@@@1@10@@oe@2-2-2013
21926001@unknown@formal@none@1@S@Dow Chemical Co. said third-quarter net income slipped 6.8% from a record year-ago quarter.@@@@1@14@@oe@2-2-2013
21926002@unknown@formal@none@1@S@The decline broke a streak of 10 quarters in which Dow posted earnings increases.@@@@1@14@@oe@2-2-2013
21926003@unknown@formal@none@1@S@Dow's third-quarter net fell to $589 million, or $3.29 a share, from $632 million, or $3.36 a share, a year ago.@@@@1@21@@oe@2-2-2013
21926004@unknown@formal@none@1@S@Sales in the latest quarter rose 2% to $4.25 billion from $4.15 billion a year earlier.@@@@1@16@@oe@2-2-2013
21926005@unknown@formal@none@1@S@Dow closed at $94.625 a share, up 75 cents, in New York Stock Exchange composite trading.@@@@1@16@@oe@2-2-2013
21926006@unknown@formal@none@1@S@A spokeswoman said Dow is comfortable with Wall Street expectations that full-year earnings will total about $14.60 a share, compared with last year's record net of $2.4 billion, or $12.76 a share.@@@@1@32@@oe@2-2-2013
21926007@unknown@formal@none@1@S@But that signal on full-year profit casts doubt on whether Dow will improve on its year-ago fourth-quarter net of $3.44 a share, or $635 million.@@@@1@25@@oe@2-2-2013
21926008@unknown@formal@none@1@S@Dow would earn $14.85 a share for the year if it equaled that year-ago fourth-quarter performance.@@@@1@16@@oe@2-2-2013
21926009@unknown@formal@none@1@S@Dow officials were signaling that the company would earn less than $15 a share this year even before they announced in July a plan to acquire 67% of Marion Laboratories Inc.@@@@1@31@@oe@2-2-2013
21926010@unknown@formal@none@1@S@That acquisition could further dilute earnings per share this year, the company spokeswoman said.@@@@1@14@@oe@2-2-2013
21926011@unknown@formal@none@1@S@Dow hasn't said exactly what impact the Marion acquisition will have on 1989 earnings.@@@@1@14@@oe@2-2-2013
21926012@unknown@formal@none@1@S@Dow blamed the third-quarter earnings drop on several factors, including softer prices for polyethylene and other basic chemicals, a slower U.S. economy and a stronger dollar, which made Dow's exports from the U.S. more expensive to overseas customers.@@@@1@38@@oe@2-2-2013
21926013@unknown@formal@none@1@S@Another problem was a 7% increase in operating costs at a time when revenue was rising by only 2%.@@@@1@19@@oe@2-2-2013
21926014@unknown@formal@none@1@S@For the first nine months of the year, Dow earned $2.06 billion, or $11.41 a share, up 17% from $1.76 billion, or $9.32 a share, a year ago.@@@@1@28@@oe@2-2-2013
21926015@unknown@formal@none@1@S@Sales for the latest nine months rose 7.7% to $13.34 billion from $12.38 billion in the year-ago period.@@@@1@18@@oe@2-2-2013
21927001@unknown@formal@none@1@S@Whether or not "great cases make bad-law" -- as Justice Holmes asserted -- who can doubt that when great confirmation hearings turn on the nominee's response to these great cases they make bad judicial history?@@@@1@35@@oe@2-2-2013
21927002@unknown@formal@none@1@S@Ethan Bronner's "Battle for Justice: How the Bork Nomination Shook America" (Norton, 399 pages, $22.50) is a spirited narrative of the nastiest of these hearings, done with journalistic verve, but with a flawed legal philosophy.@@@@1@35@@oe@2-2-2013
21927003@unknown@formal@none@1@S@While the book amply justifies its subtitle, the title itself is dubious.@@@@1@12@@oe@2-2-2013
21927004@unknown@formal@none@1@S@What shook America was not a battle for justice but for naked power, in which an army of judicial activists rolled over a judge they had demonized.@@@@1@27@@oe@2-2-2013
21927005@unknown@formal@none@1@S@In its basic structure and style the book is novelistic, with piquant character portrayal, hard-wire action and devious intrigue of the sort more likely to be encountered in a Washington docudrama than in a constitutional history.@@@@1@36@@oe@2-2-2013
21927006@unknown@formal@none@1@S@Mr. Bronner seems to believe that the hearings could have gone either way.@@@@1@13@@oe@2-2-2013
21927007@unknown@formal@none@1@S@I doubt that.@@@@1@3@@oe@2-2-2013
21927008@unknown@formal@none@1@S@Given Democratic frustration with the Reagan victories and Court appointments, the contingency plans in place, and Mr. Bork's paper trail of vulnerable writings, it was pretty clear that Judge Bork never stood much chance of being confirmed.@@@@1@37@@oe@2-2-2013
21927009@unknown@formal@none@1@S@As Mr. Bronner himself says, the smell of "raw meat" was in the air.@@@@1@14@@oe@2-2-2013
21927010@unknown@formal@none@1@S@Perhaps because they won, Mr. Bork's attackers come through more vividly than his defenders.@@@@1@14@@oe@2-2-2013
21927011@unknown@formal@none@1@S@Ralph Neas was the organizing genius, whipping a conglomerate of pressure groups into an irresistible attacking force.@@@@1@17@@oe@2-2-2013
21927012@unknown@formal@none@1@S@Harvard's Laurence Tribe was the constitutional heavy, laying out legal strategies for the senators and witnesses to follow.@@@@1@18@@oe@2-2-2013
21927013@unknown@formal@none@1@S@But it was Ted Kennedy who scored most effectively with his searing portrayal of "Robert Bork's America" -- the parade of imaginary horribles that would follow logically, he claimed, from the positions Mr. Bork had taken over the space of two decades.@@@@1@42@@oe@2-2-2013
21927014@unknown@formal@none@1@S@Sen. Kennedy, never mind his dubious credentials for the moral high ground, emoted brilliantly.@@@@1@14@@oe@2-2-2013
21927015@unknown@formal@none@1@S@I add two others.@@@@1@4@@oe@2-2-2013
21927016@unknown@formal@none@1@S@Republican Sen. Arlen Specter of Pennsylvania engaged the nominee in a verbal contest aimed at showing that Mr. Bork was willing to stretch the Constitution in one area (free speech) while remaining rigid in all the others.@@@@1@37@@oe@2-2-2013
21927017@unknown@formal@none@1@S@It achieved a good media play, and enabled Sen. Specter and others to vote against Mr. Bork out of "conscience."@@@@1@20@@oe@2-2-2013
21927018@unknown@formal@none@1@S@Further ammunition came from left legal theorist Ronald Dworkin, who in the New York Review of Books painted a picture of a constitutional zombie willfully reading his personal prejudices into the Constitution, particularly in the area of "original intent."@@@@1@39@@oe@2-2-2013
21927019@unknown@formal@none@1@S@The charge of being "outside the mainstream" of legal thought gravely undercut Mr. Bork's scholarly standing, leaving him bleeding on the platform.@@@@1@22@@oe@2-2-2013
21927020@unknown@formal@none@1@S@The nomination still might have been salvaged if a number of Democratic moderates in the South and Southwest had broken party lines.@@@@1@22@@oe@2-2-2013
21927021@unknown@formal@none@1@S@But Democratic Sen. Bennett Johnson of Louisiana reminded the little band that anti-Bork blacks and women could furnish the margin to punish them in their next Senate elections.@@@@1@28@@oe@2-2-2013
21927022@unknown@formal@none@1@S@Demographics converged with "mainstream" and demonizing to seal Robert Bork's fate.@@@@1@11@@oe@2-2-2013
21927023@unknown@formal@none@1@S@The upshot?@@@@1@2@@oe@2-2-2013
21927024@unknown@formal@none@1@S@Mr. Bork's opponents chose the battlefield, held it and kept it.@@@@1@11@@oe@2-2-2013
21927025@unknown@formal@none@1@S@Yet with the smooth confirmation of Anthony Kennedy, an "80 percenter" only slightly less supportive of judicial restraint than Mr. Bork, the Democrats may have won the battle but lost the war.@@@@1@32@@oe@2-2-2013
21927026@unknown@formal@none@1@S@Another upshot, however, was the chilling message the Bork hearings sent into the judicial culture from which the Supreme Court draws its talent.@@@@1@23@@oe@2-2-2013
21927027@unknown@formal@none@1@S@The word went forth to every law school that those with federal court ambitions must travel a safe constitutional journey, with no paper trail and no bite to their tongue or pen.@@@@1@32@@oe@2-2-2013
21927028@unknown@formal@none@1@S@Unfortunately, the author simply doesn't supply the philosophical frame to sustain his reportorial talents.@@@@1@14@@oe@2-2-2013
21927029@unknown@formal@none@1@S@He has too readily swallowed the case for the activist law school culture.@@@@1@13@@oe@2-2-2013
21927030@unknown@formal@none@1@S@Probing more deeply into the doctrine of "judicial restraint," he would have found a long history going back to the great decisions of Justice Holmes.@@@@1@25@@oe@2-2-2013
21927031@unknown@formal@none@1@S@He would discover it also in Alexander Bickel, a subtle constitutional scholar, Mr. Bork's closest friend at Yale, whose influence on the judge goes well beyond Mr. Bronner's reporting.@@@@1@29@@oe@2-2-2013
21927032@unknown@formal@none@1@S@Still, the long view of Robert Bork as constitutional thinker must be a spotty one.@@@@1@15@@oe@2-2-2013
21927033@unknown@formal@none@1@S@His strength lies in his majoritarian doctrine, which keeps the Court clear of transient group pressures and leaves most decisions in a democracy to elected legislatures and executives.@@@@1@28@@oe@2-2-2013
21927034@unknown@formal@none@1@S@Unfortunately, Mr. Bork failed to distinguish between such pressures and the emergence of great issues critical to a society that must be settled judicially if it is to cohere.@@@@1@29@@oe@2-2-2013
21927035@unknown@formal@none@1@S@The question of segregated schools, in Brown vs. Board of Education, was such an issue.@@@@1@15@@oe@2-2-2013
21927036@unknown@formal@none@1@S@In our time abortion has become another, best left to a line of Supreme Court decisions rather than to the chaos of 50 state legislatures.@@@@1@25@@oe@2-2-2013
21927037@unknown@formal@none@1@S@A reflective and growing consensus of Americans clearly wishes to apply the right to privacy in contraceptive matters (decided in the Griswold case) to abortion as well.@@@@1@27@@oe@2-2-2013
21927038@unknown@formal@none@1@S@One can understand Mr. Bork's fear that the new right to privacy will become intolerably stretched, though a Supreme Court composed of men and women with realism, guts and a sense of limits should be able to manage it.@@@@1@39@@oe@2-2-2013
21927039@unknown@formal@none@1@S@What is certain is that if Americans allow another happening like the degrading Bork confirmation circus, it will be at their peril.@@@@1@22@@oe@2-2-2013
21927040@unknown@formal@none@1@S@Mr. Lerner is a writer and historian living in New York.@@@@1@11@@oe@2-2-2013
21928001@unknown@formal@none@1@S@Sotheby's Inc., the world's biggest auction house, is taking a huge Wall Street-style risk on the outcome of the sale of art from the estate of John T. Dorrance Jr., the Campbell Soup Co. heir.@@@@1@35@@oe@2-2-2013
21928002@unknown@formal@none@1@S@The Financial Services division has guaranteed the Dorrance family that it will receive a minimum of $100 million for the collection, regardless of what the bids for the art works total, people close to the transaction say.@@@@1@37@@oe@2-2-2013
21928003@unknown@formal@none@1@S@The collection, which includes two early Picassos, a van Gogh, a Monet, other paintings, furniture and porcelains, went on sale last night in the first of six auctions.@@@@1@28@@oe@2-2-2013
21928004@unknown@formal@none@1@S@What Sotheby's is doing closely resembles an underwriting by an investment bank.@@@@1@12@@oe@2-2-2013
21928005@unknown@formal@none@1@S@A corporation that wants to sell stock or bonds goes to a Wall Street firm, which purchases the securities outright, accepting the financial risk of finding buyers.@@@@1@27@@oe@2-2-2013
21928006@unknown@formal@none@1@S@If the investment bank can sell the securities at a higher price than it paid the issuer, it makes a profit.@@@@1@21@@oe@2-2-2013
21928007@unknown@formal@none@1@S@At the initial sale last night, for example -- the sale featuring the Impressionists masters -- bids totaled $116 million.@@@@1@20@@oe@2-2-2013
21928008@unknown@formal@none@1@S@That was slightly above Sotheby's presale estimate of $111 million.@@@@1@10@@oe@2-2-2013
21928009@unknown@formal@none@1@S@Normally, Sotheby's would have earned 20% of the total in commissions.@@@@1@11@@oe@2-2-2013
21928010@unknown@formal@none@1@S@Instead, people familiar with the transaction said, the auction house opted to forgo that percentage in order to obtain the collection and in exchange for taking a bigger chunk of proceeds exceeding $100 million.@@@@1@34@@oe@2-2-2013
21928011@unknown@formal@none@1@S@Art dealers say that while auction houses occasionally guarantee the seller of a highly desirable work of art a minimum price, a financial commitment of this size is unprecedented.@@@@1@29@@oe@2-2-2013
21928012@unknown@formal@none@1@S@Diana D. Brooks, president of Sotheby's North America division, vehemently denies it offered the Dorrance heirs a money-back guarantee, calling such reports "inaccurate."@@@@1@23@@oe@2-2-2013
21928013@unknown@formal@none@1@S@Buried in the glossy hardbound catalog for the sale, however, appears the statement, "Sotheby's has an interest in the property in this catalog."@@@@1@23@@oe@2-2-2013
21928014@unknown@formal@none@1@S@Explains a Sotheby's spokeswoman, the statement "means exactly what it says.@@@@1@11@@oe@2-2-2013
21928015@unknown@formal@none@1@S@We have some level of financial interest" in the collection.@@@@1@10@@oe@2-2-2013
21928016@unknown@formal@none@1@S@"We don't disclose specifics."@@@@1@4@@oe@2-2-2013
21928017@unknown@formal@none@1@S@Frank Mirabello, a lawyer for the Dorrance estate with the Philadelphia law firm of Morgan, Lewis & Bockius, declines to comment on the financial arrangements.@@@@1@25@@oe@2-2-2013
21928018@unknown@formal@none@1@S@Sotheby's made the $100 million guarantee to keep the Dorrance collection away from its archrival, auction house Christie's International PLC; Christie's has handled smaller sales for the Dorrance family over the years.@@@@1@32@@oe@2-2-2013
21928019@unknown@formal@none@1@S@When Christie's officials asked why the firm wasn't picked to sell the Dorrance collection, representatives of the Dorrance family "told us it was a question of financial considerations," said Michael Findlay, Christie's head of impressionist and modern paintings.@@@@1@38@@oe@2-2-2013
21928020@unknown@formal@none@1@S@Collectors who have made their money on Wall Street have become an increasingly important part of the art business and their money has helped fuel the art boom, but recently it appears Sotheby's has been returning the compliment.@@@@1@38@@oe@2-2-2013
21928021@unknown@formal@none@1@S@In November 1987, Sotheby's essentially offered a Wall Street-style "bridge loan" of about $27 million to Australian businessman Alan Bond to enable him to purchase Vincent van Gogh's "Irises" for $53.9 million.@@@@1@32@@oe@2-2-2013
21928022@unknown@formal@none@1@S@It was the highest bid in history for a work of art.@@@@1@12@@oe@2-2-2013
21928023@unknown@formal@none@1@S@But two weeks ago, Sotheby's said that it has the painting under lock and key because the loan had not been fully repaid.@@@@1@23@@oe@2-2-2013
21928024@unknown@formal@none@1@S@Sotheby's is offering such deals because it's an art sellers' market, at least where the best works are concerned, says Ralph Lerner, an attorney and author of the book "Art Law."@@@@1@31@@oe@2-2-2013
21928025@unknown@formal@none@1@S@"There seems to be a lot of art for sale, but there's more competition.@@@@1@14@@oe@2-2-2013
21928026@unknown@formal@none@1@S@The competition gives the seller the ability to cut a better deal," he says.@@@@1@14@@oe@2-2-2013
21928027@unknown@formal@none@1@S@The Dorrance family will still receive a substantial portion of the auction proceeds above $100 million, people familiar with the transaction said.@@@@1@22@@oe@2-2-2013
21928028@unknown@formal@none@1@S@But it's likely that Sotheby's will take a higher than usual commission, called an override, on the amount exceeding the guarantee.@@@@1@21@@oe@2-2-2013
21928029@unknown@formal@none@1@S@Sotheby's has been aggressively promoting the Dorrance sale.@@@@1@8@@oe@2-2-2013
21928030@unknown@formal@none@1@S@At a news conference last May announcing plans for the auction, Sotheby's estimated its value in excess of $100 million.@@@@1@20@@oe@2-2-2013
21928031@unknown@formal@none@1@S@More recently, Sotheby's has predicted the collection will fetch $140 million.@@@@1@11@@oe@2-2-2013
21928032@unknown@formal@none@1@S@That's the highest estimate for a single collection in auction history.@@@@1@11@@oe@2-2-2013
21928033@unknown@formal@none@1@S@The decision to put the entire collection on the block stunned many, since Mr. Dorrance had served as chairman of the Philadelphia Museum of Art, and it had been assumed many of the works would be donated to the institution.@@@@1@40@@oe@2-2-2013
21928034@unknown@formal@none@1@S@At last night's sale, 13 of 44 works that sold were purchased by Aska International Gallery, the art-acquisition unit of Aichi Financial, a Japanese conglomerate that owns 7.5% of Christie's.@@@@1@30@@oe@2-2-2013
21928035@unknown@formal@none@1@S@Meanwhile, Sotheby's guarantee is raising eyebrows in the art world.@@@@1@10@@oe@2-2-2013
21928036@unknown@formal@none@1@S@"The consumer has to throw out the idea that the auction house is a disinterested middleman," says New York art dealer David Tunick.@@@@1@23@@oe@2-2-2013
21928037@unknown@formal@none@1@S@While he adds that he has no problem with auction houses who sell works in which they have a financial interest, "It ought not to be hidden in some small print."@@@@1@31@@oe@2-2-2013
21928038@unknown@formal@none@1@S@In such situations, he says, the house "is going to put the best light on things."@@@@1@16@@oe@2-2-2013
21928039@unknown@formal@none@1@S@For example, an auction house's comments on the condition of a work of art that is up for sale should be looked at with "very open eyes," he says.@@@@1@29@@oe@2-2-2013
21928040@unknown@formal@none@1@S@"There's more and more of this cash-up-front going on at every level," says Bruce Miller, president of Art Funding Corp., an art lender.@@@@1@23@@oe@2-2-2013
21928041@unknown@formal@none@1@S@Dealers and auction houses "know if they don't lay out a half a million for this, another one will; it's that competitive."@@@@1@22@@oe@2-2-2013
21928042@unknown@formal@none@1@S@In January, two small New York galleries, the Coe Kerr Gallery and Beadleston Fine Arts, snatched a major art collection owned by the Askin family away from rival auction-house bidders with an up-front payment of about $25 million.@@@@1@38@@oe@2-2-2013
21928043@unknown@formal@none@1@S@A Christie's spokeswoman said that while the auction house sometimes waives its seller's commission to attract art works -- it still gets a commission from the buyer -- Christie's won't offer financial guarantees because "Christie's believes its primary role is as an auction house, and therefore as an agent {for buyer and seller}, not as a bank.@@@@1@57@@oe@2-2-2013
21929001@unknown@formal@none@1@S@Egon Krenz, the man tapped yesterday to become East Germany's new leader, faces the same task that has fallen to neighboring socialist colleagues: reforming a country in crisis.@@@@1@28@@oe@2-2-2013
21929002@unknown@formal@none@1@S@But unlike the other new leaders in the East Bloc, Mr. Krenz will face an immediate threat to his nation's very existence: German reunification.@@@@1@24@@oe@2-2-2013
21929003@unknown@formal@none@1@S@Mr. Krenz, age 52, is known as an old-guard ironfist, one likely to continue the method of running a country that the Berlin Wall made famous.@@@@1@26@@oe@2-2-2013
21929004@unknown@formal@none@1@S@Even if he were to change his stripes and become another Milton Friedman, however, he would still stand a good chance of losing a country.@@@@1@25@@oe@2-2-2013
21929005@unknown@formal@none@1@S@Mr. Krenz almost certainly will be a younger version of Erich Honecker, his rigid predecessor as dictator.@@@@1@17@@oe@2-2-2013
21929006@unknown@formal@none@1@S@Mr. Krenz has followed much the same career path as Mr. Honecker: Both spent years overseeing the Freie Deutsche Jugend, the youth group that is the communist regime's principal tool for stamping young Germans into socialist citizens.@@@@1@37@@oe@2-2-2013
21929007@unknown@formal@none@1@S@More recently, Mr. Krenz has been in charge of East German security, and is the youngest member of the ruling Politburo.@@@@1@21@@oe@2-2-2013
21929008@unknown@formal@none@1@S@Faced with another Mr. Honecker, so many despairing East Germans are likely to flee that the two German peoples will get their reunification, de facto, on West German ground.@@@@1@29@@oe@2-2-2013
21929009@unknown@formal@none@1@S@But if East Germany's arthritic Politburo does loosen up enough to permit Mr. Krenz to make serious efforts at reform, he will face a challenge just as fundamental.@@@@1@28@@oe@2-2-2013
21929010@unknown@formal@none@1@S@Abandoning socialism means abandoning the East German state's reason for existence, and with it the justification for its watchdogs and its Wall.@@@@1@22@@oe@2-2-2013
21929011@unknown@formal@none@1@S@In this scenario it's hard to imagine that a pale imitation of the Federal Republic could avoid being pulled into some kind of tie -- economic, federal or stronger -- with West Germany.@@@@1@33@@oe@2-2-2013
21929012@unknown@formal@none@1@S@Mr. Krenz may need a bit of time to consolidate his empire, which would do a lot to promote Reunification Scenario One.@@@@1@22@@oe@2-2-2013
21929013@unknown@formal@none@1@S@Cartoonists in West Germany have already mocked the exodus by imagining an advertisement placed by Mr. Honecker: "Wanted: one people."@@@@1@20@@oe@2-2-2013
21929014@unknown@formal@none@1@S@The West German embassies in Prague, Budapest and Warsaw are continuing to find refugees at their gates.@@@@1@17@@oe@2-2-2013
21929015@unknown@formal@none@1@S@Of course East Germany, true to its tradition, could tighten its borders yet further.@@@@1@14@@oe@2-2-2013
21929016@unknown@formal@none@1@S@Two of the last gestures of the Honecker regime were to close the border to Czechoslovakia and install halogen lights in some spots along the frontier.@@@@1@26@@oe@2-2-2013
21929017@unknown@formal@none@1@S@But with world-wide opinion -- even, apparently in Moscow -- against East Germany, the country would have to turn itself into an Albania to clamp down further on refugees.@@@@1@29@@oe@2-2-2013
21929018@unknown@formal@none@1@S@There have been some reports that Mr. Krenz is moving to "soften" his reputation, notably rumors that it was he who kept East Germany's state police off protesters' backs at the country's dismal 40th anniversary celebrations earlier this month.@@@@1@39@@oe@2-2-2013
21929019@unknown@formal@none@1@S@But even if he effects a Hyde-to-Jekyll transformation, he will face a serious ideological crisis and Reunification Scenario Two.@@@@1@19@@oe@2-2-2013
21929020@unknown@formal@none@1@S@The problem is one that East Germany shares with other half-states, such as North Korea, but one it must shoulder alone in the East Bloc.@@@@1@25@@oe@2-2-2013
21929021@unknown@formal@none@1@S@When Poland moves to reform, it can at least lean on its past: However flawed and short-lived Joseph Pilsudski's interwar republic, it was a nonsocialist democracy.@@@@1@26@@oe@2-2-2013
21929022@unknown@formal@none@1@S@Czech reformers can recall the Wilsonian ideals of the same period in their country.@@@@1@14@@oe@2-2-2013
21929023@unknown@formal@none@1@S@Even the Soviet Union has Peter the Great to rediscover, should it choose to.@@@@1@14@@oe@2-2-2013
21929024@unknown@formal@none@1@S@But East Germany is merely "the land of truly existing socialism."@@@@1@11@@oe@2-2-2013
21929025@unknown@formal@none@1@S@Beyond that, it has to compete with West Germany for a claim to the German identity.@@@@1@16@@oe@2-2-2013
21929026@unknown@formal@none@1@S@Up to now, the main weapon of the "worker and peasant state" has been the ideology of socialism.@@@@1@18@@oe@2-2-2013
21929027@unknown@formal@none@1@S@With talk today of a second economic miracle in West Germany, East Germany no longer can content itself with being the economic star in a loser league.@@@@1@27@@oe@2-2-2013
21929028@unknown@formal@none@1@S@Without Moscow's military and party behind it, East Germany runs the risk of disintegrating.@@@@1@14@@oe@2-2-2013
21929029@unknown@formal@none@1@S@If it goes capitalist, and increases trade with West Germany, it will convert itself, willy-nilly, into an economic annex of the Federal Republic.@@@@1@23@@oe@2-2-2013
21929030@unknown@formal@none@1@S@There's a certain cruel logic at work here: It's particularly appropriate -- and tragic -- that the land that produced Karl Marx should prove socialism's failure in an experiment that uses its own people as controls.@@@@1@36@@oe@2-2-2013
21929031@unknown@formal@none@1@S@There may be forces that would delay this scenario.@@@@1@9@@oe@2-2-2013
21929032@unknown@formal@none@1@S@Ideologues are the last to surrender, and Germans are an ideological people.@@@@1@12@@oe@2-2-2013
21929033@unknown@formal@none@1@S@The protesters who greeted Mikhail Gorbachev at East Berlin's airport earlier this month weren't shouting "Go U.S.A" -- they were chanting "Gorby, Help Us."@@@@1@24@@oe@2-2-2013
21929034@unknown@formal@none@1@S@Ideologues on the other side of the border can also slow the process.@@@@1@13@@oe@2-2-2013
21929035@unknown@formal@none@1@S@Helmut Kohl's governing conservative coalition is proving admirably true to the West German constitution by making more than 500,000 people of German descent automatic citizens this year alone.@@@@1@28@@oe@2-2-2013
21929036@unknown@formal@none@1@S@But within the government and in the think tanks outside it, many West Germans maintain that they don't want immediate reunification.@@@@1@21@@oe@2-2-2013
21929037@unknown@formal@none@1@S@Politically, this currently is wisdom -- particularly given a nervous neighboring France.@@@@1@12@@oe@2-2-2013
21929038@unknown@formal@none@1@S@But it would be ironic if Germany's reunification, just like its division, eventually were the result of actions in centers of power other than Bonn and Berlin.@@@@1@27@@oe@2-2-2013
21929039@unknown@formal@none@1@S@In a statement that was as close as East Germany gets to practicing "glasnost", Otto Reinhold, an East German party theorist, actually acknowledged the reunification dilemma.@@@@1@26@@oe@2-2-2013
21929040@unknown@formal@none@1@S@"The main problem," Mr. Reinhold said in an East German radio interview monitored by Radio Free Europe in Munich, stems from the fact that "the GDR is different" from other East European states.@@@@1@33@@oe@2-2-2013
21929041@unknown@formal@none@1@S@"What kind of right to exist," he asked, "would a capitalist German Democratic Republic have alongside a capitalist Federal Republic?"@@@@1@20@@oe@2-2-2013
21929042@unknown@formal@none@1@S@That's a question East Germany can't answer easily, no matter what its new leader does.@@@@1@15@@oe@2-2-2013
21929043@unknown@formal@none@1@S@Miss Shlaes is editorial features editor of The Wall Street Journal/Europe.@@@@1@11@@oe@2-2-2013
21930001@unknown@formal@none@1@S@INSURERS ARE FACING billions of dollars in damage claims from the California quake.@@@@1@13@@oe@2-2-2013
21930002@unknown@formal@none@1@S@But most businesses in the Bay area, including Silicon Valley, weren't greatly affected.@@@@1@13@@oe@2-2-2013
21930003@unknown@formal@none@1@S@Computer and software companies in the region are expecting virtually no long-term disruption in shipments.@@@@1@15@@oe@2-2-2013
21930004@unknown@formal@none@1@S@Also, investors quickly singled out stocks of companies expected to profit or suffer from the disaster.@@@@1@16@@oe@2-2-2013
21930005@unknown@formal@none@1@S@Leveraged buy-outs may be curbed by two rules in pending congressional legislation.@@@@1@12@@oe@2-2-2013
21930006@unknown@formal@none@1@S@The provisions, in deficit-reduction bills recently passed by the House and Senate, could raise the price tags of such deals by up to 10% and cool the takeover boom.@@@@1@29@@oe@2-2-2013
21930007@unknown@formal@none@1@S@A bill giving the Transportation Department the power to block airline leveraged buy-outs cleared a House panel.@@@@1@17@@oe@2-2-2013
21930008@unknown@formal@none@1@S@But Secretary Skinner said he would urge Bush to veto the bill.@@@@1@12@@oe@2-2-2013
21930009@unknown@formal@none@1@S@Housing starts sank 5.2% in September to a seven-year low.@@@@1@10@@oe@2-2-2013
21930010@unknown@formal@none@1@S@The drop, following a 6.2% decline in August, indicates the industry is still being hurt by the Fed's anti-inflation battle.@@@@1@20@@oe@2-2-2013
21930011@unknown@formal@none@1@S@IBM plans to buy back $1 billion of its common shares, a move likely to help the computer giant's battered stock.@@@@1@21@@oe@2-2-2013
21930012@unknown@formal@none@1@S@The buy-back, which wasn't a complete surprise, was announced after the stock market had closed.@@@@1@15@@oe@2-2-2013
21930013@unknown@formal@none@1@S@A capital-gains tax cut plan has been worked out by Senate Republicans.@@@@1@12@@oe@2-2-2013
21930014@unknown@formal@none@1@S@A similar proposal may be introduced soon by Senate Democrats.@@@@1@10@@oe@2-2-2013
21930015@unknown@formal@none@1@S@British Airways said it is seeking improved terms and a sharply lower price in any revised bid for United Air's parent.@@@@1@21@@oe@2-2-2013
21930016@unknown@formal@none@1@S@The British carrier also confirmed it isn't committed to going forward with any new bid.@@@@1@15@@oe@2-2-2013
21930017@unknown@formal@none@1@S@UAL's stock fell $6.25, to $191.75.@@@@1@6@@oe@2-2-2013
21930018@unknown@formal@none@1@S@Stock prices rose slightly as trading slowed, while bonds ended little changed despite a slumping dollar.@@@@1@16@@oe@2-2-2013
21930019@unknown@formal@none@1@S@The Dow Jones industrials gained 4.92, to 2643.65.@@@@1@8@@oe@2-2-2013
21930020@unknown@formal@none@1@S@But investors remain wary about stocks, partly because of turmoil in the junk-bond market.@@@@1@14@@oe@2-2-2013
21930021@unknown@formal@none@1@S@B.A.T Industries may delay part of its defensive restructuring plan, including the sale of its Saks Fifth Avenue and Marshall Field units.@@@@1@22@@oe@2-2-2013
21930022@unknown@formal@none@1@S@The British conglomerate cited the recent turmoil in financial markets.@@@@1@10@@oe@2-2-2013
21930023@unknown@formal@none@1@S@WCRS Group announced a major restructuring that largely removes it from the advertising business.@@@@1@14@@oe@2-2-2013
21930024@unknown@formal@none@1@S@The London-based concern will sell most of its ad unit to France's Eurocom.@@@@1@13@@oe@2-2-2013
21930025@unknown@formal@none@1@S@Commodore International expects to post its second consecutive quarterly loss because of weak personal computer sales in some markets.@@@@1@19@@oe@2-2-2013
21930026@unknown@formal@none@1@S@Jaguar hopes to reach a friendly accord with General Motors within a month that may involve producing a cheaper executive model.@@@@1@21@@oe@2-2-2013
21930027@unknown@formal@none@1@S@Sears is negotiating to refinance its Sears Tower for close to $850 million, sources said.@@@@1@15@@oe@2-2-2013
21930028@unknown@formal@none@1@S@The retailer was unable to find a buyer for the building.@@@@1@11@@oe@2-2-2013
21930029@unknown@formal@none@1@S@Whitbread of Britain put its spirits division up for sale, setting off a scramble among distillers.@@@@1@16@@oe@2-2-2013
21930030@unknown@formal@none@1@S@The business includes Beefeater gin.@@@@1@5@@oe@2-2-2013
21930031@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
21930032@unknown@formal@none@1@S@Stocks: Volume 166,900,000 shares.@@@@1@4@@oe@2-2-2013
21930033@unknown@formal@none@1@S@Dow Jones industrials 2643.65, up 4.92; transportation 1247.87, off 6.40; utilities 213.97, off 0.57.@@@@1@14@@oe@2-2-2013
21930034@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3371.36, off@@@@1@8@@oe@2-2-2013
21930035@unknown@formal@none@1@S@Commodities: Dow Jones futures index 129.90, up 0.18; spot index 130.36, up 0.39.@@@@1@13@@oe@2-2-2013
21930036@unknown@formal@none@1@S@Dollar: 141.45 yen, off 1.30; 1.8485 marks, off 0.0182.@@@@1@9@@oe@2-2-2013
21931001@unknown@formal@none@1@S@The dollar finished softer yesterday, tilted lower by continued concern about the stock market.@@@@1@14@@oe@2-2-2013
21931002@unknown@formal@none@1@S@"We're trading with a very wary eye on Wall Street," said Trevor Woodland, chief corporate trader at Harris Trust & Savings Bank in New York.@@@@1@25@@oe@2-2-2013
21931003@unknown@formal@none@1@S@"No one is willing to place a firm bet that the stock market won't take another tumultuous ride."@@@@1@18@@oe@2-2-2013
21931004@unknown@formal@none@1@S@News of the major earthquake in California Tuesday triggered a round of dollar sales in early Asian trade, but most foreign-exchange dealers said they expect the impact of the quake on financial markets to be short-lived.@@@@1@36@@oe@2-2-2013
21931005@unknown@formal@none@1@S@Despite the dollar's lackluster performance, some foreign-exchange traders maintain that the U.S. unit remains relatively well bid.@@@@1@17@@oe@2-2-2013
21931006@unknown@formal@none@1@S@Harris Trust's Mr. Woodland noted that the unit continues to show resilience in the face of a barrage of "headline negatives" in recent weeks, including rate increases in Europe and Japan, aggressive central bank intervention, a 190-point plunge in New York stock prices, an unexpectedly poor U.S. trade report and action by the Federal Reserve to nudge U.S. rates lower.@@@@1@60@@oe@2-2-2013
21931007@unknown@formal@none@1@S@While Mr. Woodland doesn't predict a significant climb for the U.S. unit in light of recent moves in interest rates around the world, he noted that "its downside potential is surprisingly and -- for dollar bulls -- "impressively" limited.@@@@1@39@@oe@2-2-2013
21931008@unknown@formal@none@1@S@In late New York trading yesterday, the dollar was quoted at 1.8485 marks, down from 1.8667 marks late Tuesday, and at 141.45 yen, down from 142.75 yen late Tuesday.@@@@1@29@@oe@2-2-2013
21931009@unknown@formal@none@1@S@Sterling was quoted at $1.5920, up from $1.5753 late Tuesday.@@@@1@10@@oe@2-2-2013
21931010@unknown@formal@none@1@S@In Tokyo Thursday, the U.S. currency opened for trading at 140.97 yen, down from Wednesday's Tokyo close of 142.10 yen.@@@@1@20@@oe@2-2-2013
21931011@unknown@formal@none@1@S@Since Friday's dive in stock market prices, the Fed has injected reserves into the banking system in an effort to calm the markets and avert a repeat of 1987's stock market debacle.@@@@1@32@@oe@2-2-2013
21931012@unknown@formal@none@1@S@Some analysts note that after last week's stock market tailspin and Tuesday's California earthquake, it's hard to gauge where the central bank wants the key federal funds rate.@@@@1@28@@oe@2-2-2013
21931013@unknown@formal@none@1@S@They say that the earthquake, by preventing many banks from operating at full capacity, has given the Fed an additional reason to keep liquidity at a high level.@@@@1@28@@oe@2-2-2013
21931014@unknown@formal@none@1@S@The Fed did, in fact, execute $1.5 billion of liquidity-enhancing customer repurchase agreements, the third set of repurchase orders in three days.@@@@1@22@@oe@2-2-2013
21931015@unknown@formal@none@1@S@Analysts said the additional liquidity should tend to reduce the federal funds rate.@@@@1@13@@oe@2-2-2013
21931016@unknown@formal@none@1@S@For now, traders say the foreign exchange market is scrutinizing both federal funds and events on Wall Street.@@@@1@18@@oe@2-2-2013
21931017@unknown@formal@none@1@S@They note that the dollar remains extremely vulnerable to the slightest bad news from the stock exchange.@@@@1@17@@oe@2-2-2013
21931018@unknown@formal@none@1@S@Indeed, the U.S. unit edged lower as the Dow Jones Industrial Average dropped about 13 points in early trading.@@@@1@19@@oe@2-2-2013
21931019@unknown@formal@none@1@S@A slight recovery in the stock market gave currency traders confidence to push the dollar higher before the unit dropped back by day's end.@@@@1@24@@oe@2-2-2013
21931020@unknown@formal@none@1@S@Some dealers noted that nervousness over the recent sharp dive in stock prices could intensify following suggestions by Bank of Japan Governor Satoshi Sumita that appeared to advise Japanese investors to be very careful in investing in U.S. leveraged buy-outs.@@@@1@40@@oe@2-2-2013
21931021@unknown@formal@none@1@S@Dealers suggest that the only positive news on the horizon that could detract attention from equities transactions is September's U.S. consumer price data.@@@@1@23@@oe@2-2-2013
21931022@unknown@formal@none@1@S@The figures, due for release Friday, are expected to show an uptick in inflation to 4.8% from 4.7% in August.@@@@1@20@@oe@2-2-2013
21931023@unknown@formal@none@1@S@If the figures show a hefty rise in inflation, they could militate against easing by the Fed.@@@@1@17@@oe@2-2-2013
21931024@unknown@formal@none@1@S@On the Commodity Exchange in New York, gold for current delivery rose $1.30 to $368.70 an ounce in moderate trading.@@@@1@20@@oe@2-2-2013
21931025@unknown@formal@none@1@S@Estimated volume was three million ounces.@@@@1@6@@oe@2-2-2013
21931026@unknown@formal@none@1@S@In early trading in Hong Kong Thursday, gold was at $368.15 an ounce.@@@@1@13@@oe@2-2-2013
21932001@unknown@formal@none@1@S@Crude prices spurted upward in brisk trading on the assumption that heavy earthquake damage occurred to San Francisco area refinery complexes, but the rise quickly fizzled when it became apparent that oil operations weren't severely curtailed.@@@@1@36@@oe@2-2-2013
21932002@unknown@formal@none@1@S@Trading on little specific information, market players overnight in Tokyo began bidding up oil prices.@@@@1@15@@oe@2-2-2013
21932003@unknown@formal@none@1@S@The rally spread into European markets, where traders were still betting that the earthquake disrupted the San Francisco area's large oil refining plants.@@@@1@23@@oe@2-2-2013
21932004@unknown@formal@none@1@S@By yesterday morning, much of the world was still unable to reach San Francisco by telephone.@@@@1@16@@oe@2-2-2013
21932005@unknown@formal@none@1@S@West Texas Intermediate was bid up more than 20 cents a barrel in many overseas markets.@@@@1@16@@oe@2-2-2013
21932006@unknown@formal@none@1@S@At the opening of the New York Mercantile Exchange, West Texas Intermediate for November delivery shot up 10 cents a barrel, to $20.85, still on the belief that the refineries were damaged.@@@@1@32@@oe@2-2-2013
21932007@unknown@formal@none@1@S@In the San Francisco area, roughly 800,000 barrels a day of crude, about a third of all the refining capacity in California, is processed daily, according to industry data.@@@@1@29@@oe@2-2-2013
21932008@unknown@formal@none@1@S@For more than the past year, even the rumor of a major West Coast refinery shutdown has been enough to spark a futures rally because the gasoline market is so tight.@@@@1@31@@oe@2-2-2013
21932009@unknown@formal@none@1@S@But yesterday, as the morning wore on, some major West Coast refinery operators -- including Chevron Corp., Exxon Corp. and the Shell Oil Co. unit of Royal Dutch/Shell Group -- said their refineries weren't damaged and were continuing to operate normally.@@@@1@41@@oe@2-2-2013
21932010@unknown@formal@none@1@S@Most said they shut down their petroleum pipeline operations as a precaution but didn't see any immediate damage.@@@@1@18@@oe@2-2-2013
21932011@unknown@formal@none@1@S@Gasoline terminals were also largely unhurt, they said.@@@@1@8@@oe@2-2-2013
21932012@unknown@formal@none@1@S@"It's hard to imagine how the markets were speculating, given that nobody could get through to San Francisco," said one amazed oil company executive.@@@@1@24@@oe@2-2-2013
21932013@unknown@formal@none@1@S@As the news spread that the refineries were intact, crude prices plunged, ending the day at $20.56 a barrel, down 19 cents.@@@@1@22@@oe@2-2-2013
21932014@unknown@formal@none@1@S@Gasoline for November delivery was off 1.26 cents a gallon to 54.58 cents.@@@@1@13@@oe@2-2-2013
21932015@unknown@formal@none@1@S@Heating oil finished at 60.6 cents, down 0.45 cent.@@@@1@9@@oe@2-2-2013
21932016@unknown@formal@none@1@S@"The market was basically acting on two contradictory forces," said Nauman Barakat of Shearson Lehman Hutton Inc.@@@@1@17@@oe@2-2-2013
21932017@unknown@formal@none@1@S@"One is the panic, the earthquake in San Francisco, which is positive."@@@@1@12@@oe@2-2-2013
21932018@unknown@formal@none@1@S@But once that factor was eliminated, traders took profits and focused on crude oil inventories, Mr. Barakat said.@@@@1@18@@oe@2-2-2013
21932019@unknown@formal@none@1@S@After the market closed Tuesday, the American Petroleum Institute had reported that crude stocks increased by 5.7 million barrels in the week ended Friday, which traders viewed as bearish.@@@@1@29@@oe@2-2-2013
21932020@unknown@formal@none@1@S@But some market players still think earthquake speculation could have more impact on the oil markets.@@@@1@16@@oe@2-2-2013
21932021@unknown@formal@none@1@S@"The problem is that while on the surface everything is all right, the question is," said Mr. Barakat, "was there any structural damage to the pipelines or anything else."@@@@1@29@@oe@2-2-2013
21932022@unknown@formal@none@1@S@In other commodity markets yesterday:@@@@1@5@@oe@2-2-2013
21932023@unknown@formal@none@1@S@COPPER:@@@@1@1@@oe@2-2-2013
21932024@unknown@formal@none@1@S@Futures prices eased on indications of improvement in the industry's labor situation.@@@@1@12@@oe@2-2-2013
21932025@unknown@formal@none@1@S@The December contract declined 1.85 cents a pound to $1.2645.@@@@1@10@@oe@2-2-2013
21932026@unknown@formal@none@1@S@According to one analyst, workers at the Cananea copper mine in Mexico, which hasn't been operating since it was declared bankrupt by the Mexican government in late August, are set to return to work.@@@@1@34@@oe@2-2-2013
21932027@unknown@formal@none@1@S@The analyst said it will take about two to three months before the mine begins to produce copper in significant quantities.@@@@1@21@@oe@2-2-2013
21932028@unknown@formal@none@1@S@He added that, while there hasn't been any official announcement as yet, the Highland Valley mine strike in British Columbia, which has lasted more than three months, is regarded as settled.@@@@1@31@@oe@2-2-2013
21932029@unknown@formal@none@1@S@Another analyst said the Cananea return to operation may not be as near as some expect.@@@@1@16@@oe@2-2-2013
21932030@unknown@formal@none@1@S@"There are still negotiations taking place on whether there will be a loss of jobs, which has been a critical issue all along," he said.@@@@1@25@@oe@2-2-2013
21932031@unknown@formal@none@1@S@Nevertheless, the increasing likelihood that these two major supply disruptions will be resolved weighed on the market, the analysts agreed.@@@@1@20@@oe@2-2-2013
21932032@unknown@formal@none@1@S@Both of these mines are normally major suppliers of copper to Japan, which has been buying copper on the world market.@@@@1@21@@oe@2-2-2013
21932033@unknown@formal@none@1@S@The first analyst said that the Japanese, as well as the Chinese, bought copper earlier in the week in London, but that this purchasing has since slackened as the supply situation, at least over the long term, appears to have improved.@@@@1@41@@oe@2-2-2013
21932034@unknown@formal@none@1@S@"The focus for some time has been on the copper supply, and good demand has been taken for granted," he said.@@@@1@21@@oe@2-2-2013
21932035@unknown@formal@none@1@S@"Now that the supply situation seems to be improving, it would be best for traders to switch their concentration to the demand side."@@@@1@23@@oe@2-2-2013
21932036@unknown@formal@none@1@S@He noted the Commerce Department report yesterday that housing starts in September dropped 5.2% from August to 1.26 million units on an annualized basis, the lowest level in seven years.@@@@1@30@@oe@2-2-2013
21932037@unknown@formal@none@1@S@"Along with these factors, other economic reports suggest a slowing of the economy, which could mean reduced copper usage," he said.@@@@1@21@@oe@2-2-2013
21932038@unknown@formal@none@1@S@SUGAR:@@@@1@1@@oe@2-2-2013
21932039@unknown@formal@none@1@S@Futures prices extended Tuesday's gains.@@@@1@5@@oe@2-2-2013
21932040@unknown@formal@none@1@S@The March delivery ended with an advance of 0.16 cent a pound to 14.27 cents, for a two-day gain of 0.3 cent.@@@@1@22@@oe@2-2-2013
21932041@unknown@formal@none@1@S@According to one dealer, Japan said it has only 40,000 tons of sugar remaining to be shipped to it this year by Cuba under current commitments.@@@@1@26@@oe@2-2-2013
21932042@unknown@formal@none@1@S@The announcement was made because of reports Tuesday that Cuba would delay shipments to Japan scheduled for later this year, into early next year.@@@@1@24@@oe@2-2-2013
21932043@unknown@formal@none@1@S@The dealer said the quantity mentioned in the Japanese announcement is so small that it's meaningless.@@@@1@16@@oe@2-2-2013
21932044@unknown@formal@none@1@S@One analyst said he thought the market continued to be supported to some degree by a delay in the Cuban sugar harvest caused by adverse weather.@@@@1@26@@oe@2-2-2013
21932045@unknown@formal@none@1@S@The dealer said India might be the real factor that is keeping futures prices firm.@@@@1@15@@oe@2-2-2013
21932046@unknown@formal@none@1@S@That country recently bought 200,000 tons of sugar and had been expected to seek a like quantity last week but didn't.@@@@1@21@@oe@2-2-2013
21932047@unknown@formal@none@1@S@"It's known they need the sugar, and the expectation that they will come in is apparently giving the market its principal support," the dealer said.@@@@1@25@@oe@2-2-2013
21932048@unknown@formal@none@1@S@LIVESTOCK AND MEATS:@@@@1@3@@oe@2-2-2013
21932049@unknown@formal@none@1@S@The Agriculture Department is expected to announce tomorrow that the number of cattle in the 13 major ranch states slipped 4% to 8.21 million on Oct. 1 compared with the level a year earlier, said Tom Morgan, president of Sterling Research Corp., Arlington Heights, Ill.@@@@1@45@@oe@2-2-2013
21932050@unknown@formal@none@1@S@Cattle prices have risen in recent weeks on speculation that the government's quarterly report will signal tighter supplies of beef.@@@@1@20@@oe@2-2-2013
21932051@unknown@formal@none@1@S@Among other things, the government is expected to report that the number of young cattle placed on feedlots during the quarter slipped 3%.@@@@1@23@@oe@2-2-2013
21932052@unknown@formal@none@1@S@Feedlots fatten cattle for slaughter, so a drop indicates that the production of beef will dip this winter.@@@@1@18@@oe@2-2-2013
21932053@unknown@formal@none@1@S@Indeed, some analysts expect the government to report that the movement of young cattle onto feedlots in the month of September in seven big ranch states dropped 8% compared with the level for September 1988.@@@@1@35@@oe@2-2-2013
21933001@unknown@formal@none@1@S@The following issues were recently filed with the Securities and Exchange Commission:@@@@1@12@@oe@2-2-2013
21933002@unknown@formal@none@1@S@Health Care Property Investors Inc., offering of 2,250,000 shares of common stock, via Merrill Lynch Capital Markets, Alex. Brown & Sons Inc. and Dean Witter Reynolds Inc.@@@@1@27@@oe@2-2-2013
21933003@unknown@formal@none@1@S@Union Pacific Corp., shelf offering of up to $500 million debt securities and warrants.@@@@1@14@@oe@2-2-2013
21933004@unknown@formal@none@1@S@United Technologies Corp., shelf offering of up to $500 million unsubordinated non-convertible unsecured debt securities.@@@@1@15@@oe@2-2-2013
21934001@unknown@formal@none@1@S@A new drug to prevent the rejection of transplanted organs has been successfully used on more than 100 patients at the University of Pittsburgh, according to researchers.@@@@1@27@@oe@2-2-2013
21934002@unknown@formal@none@1@S@The drug, which is still in the experimental phase, hasn't been approved yet by the Food and Drug Admistration, and its long-term effects are unknown.@@@@1@25@@oe@2-2-2013
21934003@unknown@formal@none@1@S@But researchers say the drug, called FK-506, could revolutionize the transplantation field by reducing harmful side effects and by lowering rejection rates.@@@@1@22@@oe@2-2-2013
21934004@unknown@formal@none@1@S@Rejection has been the major obstacle in the approximately 30,000 organ transplants performed world-wide each year.@@@@1@16@@oe@2-2-2013
21934005@unknown@formal@none@1@S@Researchers began using the drug in February on patients who had received kidney, liver, heart and pancreas transplants.@@@@1@18@@oe@2-2-2013
21934006@unknown@formal@none@1@S@Only two of 111 transplants have been rejected.@@@@1@8@@oe@2-2-2013
21934007@unknown@formal@none@1@S@The drug, discovered in 1984, is metabolized from soil fungus found in Japan.@@@@1@13@@oe@2-2-2013
21934008@unknown@formal@none@1@S@The Pittsburgh patients are the first humans to be given the drug, which is made by Fujisawa Pharmaceutical Co.@@@@1@19@@oe@2-2-2013
21934009@unknown@formal@none@1@S@"We're shocked by it, because it's worked so fast," said Dr. Thomas E. Starzl, director of the University of Pittsburgh Transplantation Program, at a news conference here yesterday.@@@@1@28@@oe@2-2-2013
21934010@unknown@formal@none@1@S@"We consider it a life-saving drug, like one for AIDS," said Dr. John Fung, an immunologist at the University of Pittsburgh.@@@@1@21@@oe@2-2-2013
21934011@unknown@formal@none@1@S@Researchers say they believe FK-506 is 100 times more effective than the traditional anti-rejection drug, cyclosporine, made by Swiss pharmaceutical giant Sandoz Ltd.@@@@1@23@@oe@2-2-2013
21934012@unknown@formal@none@1@S@They are also encouraged by the relatively mild side effects of FK-506, compared with cyclosporine, which can cause renal failure, morbidity, nausea and other problems.@@@@1@25@@oe@2-2-2013
21934013@unknown@formal@none@1@S@"The side effects {of cyclosporine} have made the penalty for its success rather high," Dr. Starzl said.@@@@1@17@@oe@2-2-2013
21934014@unknown@formal@none@1@S@Dr. Fung said that FK-506 would not be available in the market for at least a year, and that the FDA approval process usually takes three years to five years.@@@@1@30@@oe@2-2-2013
21934015@unknown@formal@none@1@S@There are no firm plans to expand the experimental program beyond the University of Pittsburgh, whose hospital performs the most transplants in the world.@@@@1@24@@oe@2-2-2013
21934016@unknown@formal@none@1@S@Researchers couldn't estimate the cost of the drug when it reaches the market, but they said FK-506 will enable patients to cut hospital stays by 50% and reduce the number of blood tests used to monitor the dosage of cyclosporine and other drugs among transplant recipients.@@@@1@46@@oe@2-2-2013
21934017@unknown@formal@none@1@S@Dr. Starzl said the research has been largely financed by the National Institute of Health and by university funds, and that Fujisawa didn't give the hospital any grants.@@@@1@28@@oe@2-2-2013
21934018@unknown@formal@none@1@S@He said that the research team had no financial stake in the drug.@@@@1@13@@oe@2-2-2013
21934019@unknown@formal@none@1@S@"We've known for six months the effect of this drug, and our advice to our people has been not to buy the company's stock," Dr. Starzl said, adding that profiting from FK-506 wouldn't be ethical.@@@@1@35@@oe@2-2-2013
21935001@unknown@formal@none@1@S@Economist David N. Laband's Sept. 27 editorial-page article, "In Hugo's Path, a Man-Made Disaster," decries the control of price gouging, swiftly ordered by South Carolina's governor after Hurricane Hugo.@@@@1@29@@oe@2-2-2013
21935002@unknown@formal@none@1@S@According to Mr. Laband, "screaming" for price controls occurs when income redistribution "threatens to hit home."@@@@1@16@@oe@2-2-2013
21935003@unknown@formal@none@1@S@To be sure, the threat has hit home down here.@@@@1@10@@oe@2-2-2013
21935004@unknown@formal@none@1@S@Yet in Mr. Laband's rehash of free-market logic, human greed and self-interest are the only permissible psychological reactions.@@@@1@18@@oe@2-2-2013
21935005@unknown@formal@none@1@S@Allowing uncontrolled prices for necessities would indeed shorten the lines at stores, as he contends.@@@@1@15@@oe@2-2-2013
21935006@unknown@formal@none@1@S@But not because resources are going to their most efficient use, leaving scarce goods "allocated to those buyers who place the highest value on them."@@@@1@25@@oe@2-2-2013
21935007@unknown@formal@none@1@S@Rather, lines would diminish because at higher prices many victims could not afford necessities such as food and medical supplies.@@@@1@20@@oe@2-2-2013
21935008@unknown@formal@none@1@S@It is inhumane to imply that a poor, unemployed woman cannot receive immediate relief for her family at fair prices because she does not have as much to protect as a rich family.@@@@1@33@@oe@2-2-2013
21935009@unknown@formal@none@1@S@Moreover, essential relief supplies such as ice must be distributed throughout the population because of potential health problems from spoiled food and possible outbreak of disease.@@@@1@26@@oe@2-2-2013
21935010@unknown@formal@none@1@S@Such spillover effects give the state a right to intervene in the marketplace and temporarily coordinate allocation of resources.@@@@1@19@@oe@2-2-2013
21935011@unknown@formal@none@1@S@Fortunately, volunteers and charities are not motivated by self-interest, but by altruism.@@@@1@12@@oe@2-2-2013
21935012@unknown@formal@none@1@S@Why should they have to co-exist with opportunists rushing in to turn a quick profit?@@@@1@15@@oe@2-2-2013
21935013@unknown@formal@none@1@S@These latter-day scalawags would be ill-advised to take advantage of the situation, if they ever expect to face the people of South Carolina again.@@@@1@24@@oe@2-2-2013
21935014@unknown@formal@none@1@S@The government is actually protecting avaricious ice-baggers and other profiteers who cannot see beyond their own short-term gain.@@@@1@18@@oe@2-2-2013
21935015@unknown@formal@none@1@S@South Carolina deserves an A for its quick and timely relief efforts.@@@@1@12@@oe@2-2-2013
21935016@unknown@formal@none@1@S@Mr. Laband, meanwhile, gets an A for his rote recital of economic-efficiency arguments.@@@@1@13@@oe@2-2-2013
21935017@unknown@formal@none@1@S@Give him an F for his failure to understand the ethics of economic equity.@@@@1@14@@oe@2-2-2013
21935018@unknown@formal@none@1@S@Signed by 25 students@@@@1@4@@oe@2-2-2013
21935019@unknown@formal@none@1@S@Of Douglas Woodward's Honors Economics Class,@@@@1@6@@oe@2-2-2013
21935020@unknown@formal@none@1@S@University of South Carolina@@@@1@4@@oe@2-2-2013
21935021@unknown@formal@none@1@S@Columbia, S.C.@@@@1@2@@oe@2-2-2013
21935022@unknown@formal@none@1@S@Mr. Laband gives us an idea why economists' predictions are usually wrong.@@@@1@12@@oe@2-2-2013
21935023@unknown@formal@none@1@S@They set up absurd situations, detached from reality, and then try to reason from them.@@@@1@15@@oe@2-2-2013
21935024@unknown@formal@none@1@S@I'm surprised he didn't advocate letting people loot, since that behavior can also be foreseen in a disaster and "every individual has an incentive to alter the distribution of income in his favor."@@@@1@33@@oe@2-2-2013
21935025@unknown@formal@none@1@S@Price controls were "so fervently embraced by Charleston" because price gouging in this situation is equivalent to looting.@@@@1@18@@oe@2-2-2013
21935026@unknown@formal@none@1@S@Suzanne Foster@@@@1@2@@oe@2-2-2013
21935027@unknown@formal@none@1@S@Galax, Va.@@@@1@2@@oe@2-2-2013
21935028@unknown@formal@none@1@S@Mr. Laband described one of the more insidious threats we face when dealing with disasters such as Hugo -- anti-profiteering ordinances such as that by the Charleston City Council as it thrashed about trying to Do Something.@@@@1@37@@oe@2-2-2013
21935029@unknown@formal@none@1@S@Since he concentrated on the economic folly of such ordinances, he didn't mention certain other of their effects.@@@@1@18@@oe@2-2-2013
21935030@unknown@formal@none@1@S@They divert law-enforcement resources at a time they are most needed for protecting lives and property.@@@@1@16@@oe@2-2-2013
21935031@unknown@formal@none@1@S@Also, rather than increase supplies, they reduce them and encourage hoarding.@@@@1@11@@oe@2-2-2013
21935032@unknown@formal@none@1@S@And they, or even the prospect of them, discourage disaster preparedness in the form of speculative advance stocking of supplies by merchants.@@@@1@22@@oe@2-2-2013
21935033@unknown@formal@none@1@S@N. Joseph Potts@@@@1@3@@oe@2-2-2013
21935034@unknown@formal@none@1@S@Miami Lakes, Fla.@@@@1@3@@oe@2-2-2013
21935035@unknown@formal@none@1@S@Would Mr. Laband also suggest that the Red Cross, Salvation Army, military units, police, fire departments, rescue units and individual citizens cease their efforts to assist Hugo's victims because they interfere with his concept of the "free market"?@@@@1@38@@oe@2-2-2013
21935036@unknown@formal@none@1@S@What about those caring people all over the country who are donating food, water and other necessities of life to these people who could be any of us?@@@@1@28@@oe@2-2-2013
21935037@unknown@formal@none@1@S@Should they, too, stop "messing with" his free market?@@@@1@9@@oe@2-2-2013
21935038@unknown@formal@none@1@S@Maybe he thinks they should also sell to the highest bidder.@@@@1@11@@oe@2-2-2013
21935039@unknown@formal@none@1@S@And what about insurance firms?@@@@1@5@@oe@2-2-2013
21935040@unknown@formal@none@1@S@Should they be required to pay claims based on exorbitant costs for labor and materials?@@@@1@15@@oe@2-2-2013
21935041@unknown@formal@none@1@S@Mr. Laband should beware, since he lives in South Carolina.@@@@1@10@@oe@2-2-2013
21935042@unknown@formal@none@1@S@In a free market, his insurance rates can be raised to recover insurance-company losses.@@@@1@14@@oe@2-2-2013
21935043@unknown@formal@none@1@S@John W. Rush@@@@1@3@@oe@2-2-2013
21935044@unknown@formal@none@1@S@Marietta, Ga.@@@@1@2@@oe@2-2-2013
21935045@unknown@formal@none@1@S@Having been through several tornadoes and hurricanes, I have a different perspective.@@@@1@12@@oe@2-2-2013
21935046@unknown@formal@none@1@S@Mine comes from seeing thriving communities devastated -- but only temporarily.@@@@1@11@@oe@2-2-2013
21935047@unknown@formal@none@1@S@Their recovery came surprisingly fast, and always with the help of neighbors.@@@@1@12@@oe@2-2-2013
21935048@unknown@formal@none@1@S@The shock of seeing homes destroyed and city services disrupted may cause some to confuse priorities such as the true economic value of a freezer full of meat.@@@@1@28@@oe@2-2-2013
21935049@unknown@formal@none@1@S@In Texas after Hurricane Alicia, major grocery chains used their truck fleets to ship essential goods to Houston, no gouging, just good will.@@@@1@23@@oe@2-2-2013
21935050@unknown@formal@none@1@S@Tom Mongan@@@@1@2@@oe@2-2-2013
21935051@unknown@formal@none@1@S@Victoria, Texas@@@@1@2@@oe@2-2-2013
21935052@unknown@formal@none@1@S@We here in the affected areas were dazzled by Mr. Laband's analysis of time values and his comparisons of effectiveness concerning research and development.@@@@1@24@@oe@2-2-2013
21935053@unknown@formal@none@1@S@His theoretical approach and its publication in this venerable paper are no doubt a noteworthy accomplishment for him.@@@@1@18@@oe@2-2-2013
21935054@unknown@formal@none@1@S@Too bad theory fails in practice.@@@@1@6@@oe@2-2-2013
21935055@unknown@formal@none@1@S@We consumers tend to have long memories.@@@@1@7@@oe@2-2-2013
21935056@unknown@formal@none@1@S@The businesses subscribing to Mr. Laband's effective price system will be remembered when normalcy returns.@@@@1@15@@oe@2-2-2013
21935057@unknown@formal@none@1@S@Perhaps, considering the value of our time, we will be unable to patronize their establishments in the post-Hugo era.@@@@1@19@@oe@2-2-2013
21935058@unknown@formal@none@1@S@I have a question for Mr. Laband: How do I explain to the single mother of three standing in line next to me for the past three hours that the two bags of ice she needs to keep her children's food edible will take her last $20?@@@@1@47@@oe@2-2-2013
21935059@unknown@formal@none@1@S@I'm sure she'll appreciate what an efficient reaction to her problems the price system has created.@@@@1@16@@oe@2-2-2013
21935060@unknown@formal@none@1@S@Chris Edgar@@@@1@2@@oe@2-2-2013
21935061@unknown@formal@none@1@S@Myrtle Beach, S.C.@@@@1@3@@oe@2-2-2013
21936001@unknown@formal@none@1@S@This seems to be the season for revivals in Chicago.@@@@1@10@@oe@2-2-2013
21936002@unknown@formal@none@1@S@Though the Cubs' championship season ended with the National League playoffs, a revival of the Organic Theater's production of "Bleacher Bums," a play in nine innings set in the Wrigley Field bleachers, continues within spitting distance of the ballpark.@@@@1@39@@oe@2-2-2013
21936003@unknown@formal@none@1@S@Revivals of a different sort also are being offered by our two major theater troupes, the Goodman and Steppenwolf.@@@@1@19@@oe@2-2-2013
21936004@unknown@formal@none@1@S@Each is more problematic than an unexpected divisional baseball championship, but both help explain why Chicago remains a vital center of this country's regional theater movement.@@@@1@26@@oe@2-2-2013
21936005@unknown@formal@none@1@S@The Goodman is offering a modernized version of Moliere's "The Misanthrope" through Nov. 4.@@@@1@14@@oe@2-2-2013
21936006@unknown@formal@none@1@S@The original is a comedy about Alceste, a man who sees falseness and vanity in everyone except himself.@@@@1@18@@oe@2-2-2013
21936007@unknown@formal@none@1@S@He is the jealous friend of Philinte, and the jealous lover of Celimene.@@@@1@13@@oe@2-2-2013
21936008@unknown@formal@none@1@S@The play is filled with intrigue, dishonesty and injustice.@@@@1@9@@oe@2-2-2013
21936009@unknown@formal@none@1@S@Twenty-five years ago the poet Richard Wilbur modernized this 17th-century comedy merely by avoiding "the zounds sort of thing," as he wrote in his introduction.@@@@1@25@@oe@2-2-2013
21936010@unknown@formal@none@1@S@Otherwise, the scene remained Celimene's house in 1666.@@@@1@8@@oe@2-2-2013
21936011@unknown@formal@none@1@S@Assuming modern audiences readily understand that Moliere's social indictment covers their world as well as 17th-century Paris, Mr. Wilbur concentrated his formidable artistry on rendering the Alexandrine French verse into sprightly and theatrical English iambic pentameter.@@@@1@36@@oe@2-2-2013
21936012@unknown@formal@none@1@S@The Wilbur translation is remarkable -- well worth a read and even better seen in the theater if you ever have the opportunity.@@@@1@23@@oe@2-2-2013
21936013@unknown@formal@none@1@S@But if you happen to be coming to Chicago in the next few weeks, don't fail to have a look at Robert Falls's "The Misanthrope" at the Goodman.@@@@1@28@@oe@2-2-2013
21936014@unknown@formal@none@1@S@If Mr. Wilbur's translation is a finely ground lens through which we see the pettiness and corruption of 17th-century Paris, Mr. Falls's production is a mirror in which we see ourselves.@@@@1@31@@oe@2-2-2013
21936015@unknown@formal@none@1@S@Mr. Falls, the Goodman's artistic director, took a recent adaptation by Neil Bartlett and significantly adapted it.@@@@1@17@@oe@2-2-2013
21936016@unknown@formal@none@1@S@Mr. Bartlett had slimmed Moliere's cast of characters to six and set them in the London media world of Thatcherite Britain.@@@@1@21@@oe@2-2-2013
21936017@unknown@formal@none@1@S@Mr. Falls transfers the setting to Hollywood, and transforms the characters into what passes for aristocracy there -- agents, producers, actors, writers and sycophants.@@@@1@24@@oe@2-2-2013
21936018@unknown@formal@none@1@S@It works.@@@@1@2@@oe@2-2-2013
21936019@unknown@formal@none@1@S@Mr. Bartlett managed to more or less maintain Moliere's Alexandrine verse form, 12 syllable lines in rhyming couplets.@@@@1@18@@oe@2-2-2013
21936020@unknown@formal@none@1@S@Mr. Falls kept the form, but Americanized it with Mr. Bartlett's further help.@@@@1@13@@oe@2-2-2013
21936021@unknown@formal@none@1@S@With a splendid cast led by David Darlow as Alceste, Christina Haag as Celimene and, especially, William Brown as a Philinte who plays the Hollywood game but harbors authentic values and feelings, the Goodman production barrels through an all-night Hollywood party with exuberance and wit.@@@@1@45@@oe@2-2-2013
21936022@unknown@formal@none@1@S@If this version, with its references to Steven Spielberg, Spago and "thirtysomething" attracts younger audiences who might stay away from the classical version, then Messrs. Bartlett and Falls are justified in abandoning Mr. Wilbur.@@@@1@34@@oe@2-2-2013
21936023@unknown@formal@none@1@S@A 300-year-old play may be easier to revive than one merely 25.@@@@1@12@@oe@2-2-2013
21936024@unknown@formal@none@1@S@The Steppenwolf Theatre Company, back from a critical and box office success in London with its adaptation of Steinbeck's "The Grapes of Wrath," opened the new season with Harold Pinter's "The Homecoming," first produced by the Royal Shakespeare Company in 1965.@@@@1@41@@oe@2-2-2013
21936025@unknown@formal@none@1@S@Back then, Mr. Pinter was not only the angry young British playwright, but also the first to use silences and sentence fragments and menacing stares, almost to the exclusion of what we previously understood to be theatrical dialogue.@@@@1@38@@oe@2-2-2013
21936026@unknown@formal@none@1@S@When "The Homecoming" was first produced on this side of the Atlantic, actors and directors were reverential.@@@@1@17@@oe@2-2-2013
21936027@unknown@formal@none@1@S@Silences were lengthy -- nobody moved or gestured.@@@@1@8@@oe@2-2-2013
21936028@unknown@formal@none@1@S@Nobody smiled onstage, and nobody in the audience was encouraged to laugh.@@@@1@12@@oe@2-2-2013
21936029@unknown@formal@none@1@S@This kind of theater was new to us.@@@@1@8@@oe@2-2-2013
21936030@unknown@formal@none@1@S@Also, it was not a funny time over here, what with the Vietnam War, the '68 Democratic convention, assassinations and riots.@@@@1@21@@oe@2-2-2013
21936031@unknown@formal@none@1@S@But under Jerry Perry's direction the current Steppenwolf production, scheduled to play through Nov. 19, breaks through the flat and boring ritual that "The Homecoming" had become.@@@@1@27@@oe@2-2-2013
21936032@unknown@formal@none@1@S@Led by a near-perfect performance by Alan Wilder as Max, the father, the play is at once an appalling and hilarious dissection of a family's rage, bitterness, fear and isolation.@@@@1@30@@oe@2-2-2013
21936033@unknown@formal@none@1@S@Encouraged by Mr. Wilder's sly grins, embarrassed grimaces and sputtering rages, the audience gets the joke and begins to laugh before the end of the first act.@@@@1@27@@oe@2-2-2013
21936034@unknown@formal@none@1@S@Three of the family members, Max and his two sons, Lenny and Joey, live off the flesh: Max is a retired butcher, Lenny a pimp and Joey an aspiring boxer.@@@@1@30@@oe@2-2-2013
21936035@unknown@formal@none@1@S@Sam, Max's brother, has escaped the flesh by working as a liveried chauffeur and never seeking a wife.@@@@1@18@@oe@2-2-2013
21936036@unknown@formal@none@1@S@Teddy, the eldest of Max's sons, has made the most dramatic escape by becoming a professor of philosophy at an American university.@@@@1@22@@oe@2-2-2013
21936037@unknown@formal@none@1@S@Though it's clearly Max's wife who held sway here until her death, now none of the other male residents of this misbegotten household can challenge Max.@@@@1@26@@oe@2-2-2013
21936038@unknown@formal@none@1@S@The play concerns Teddy's homecoming with his wife of six years, Ruth.@@@@1@12@@oe@2-2-2013
21936039@unknown@formal@none@1@S@Curiously, Randall Arney as Teddy seems the only cast member unable to get beyond the zombie approach to a Pinter character.@@@@1@21@@oe@2-2-2013
21936040@unknown@formal@none@1@S@As Ruth, Moira Harris, a large and beautiful woman who may be our next Colleen Dewhurst, begins almost immediately to overpower each of the men.@@@@1@25@@oe@2-2-2013
21936041@unknown@formal@none@1@S@In the end, Teddy returns alone to America, leaving Ruth in Max's chair.@@@@1@13@@oe@2-2-2013
21936042@unknown@formal@none@1@S@We have seen her develop within a few hours from a shy and unknown in-law to a goddess of the flesh who will replace the dead mother, and then some.@@@@1@30@@oe@2-2-2013
21936043@unknown@formal@none@1@S@While Steppenwolf was in London with "The Grapes of Wrath," Bruce Sagan, the president of its board of directors, quietly returned to Chicago to buy a piece of real estate in the city's rapidly reviving North Halsted Street restaurant and theater district.@@@@1@42@@oe@2-2-2013
21936044@unknown@formal@none@1@S@Within a year he hopes Steppenwolf will move into a new 500-seat theater on that site.@@@@1@16@@oe@2-2-2013
21936045@unknown@formal@none@1@S@The troupe currently performs in a converted dairy that seats 211 and provides little capacity for staging anything beyond a simple one-set production.@@@@1@23@@oe@2-2-2013
21936046@unknown@formal@none@1@S@"If we wanted to stage `Death of a Salesman,' " Mr. Sagan says, "Willie Loman would have to live in a ranch house because of the low ceiling."@@@@1@28@@oe@2-2-2013
21936047@unknown@formal@none@1@S@Steppenwolf needs the extra seats even more than the fly space.@@@@1@11@@oe@2-2-2013
21936048@unknown@formal@none@1@S@It's currently forced to turn away many potential subscribers beyond the 13,000 who can be accommodated in its present digs.@@@@1@20@@oe@2-2-2013
21936049@unknown@formal@none@1@S@For all the attention that Chicago theater has received during the past decade, not one new building has been devoted to it.@@@@1@22@@oe@2-2-2013
21936050@unknown@formal@none@1@S@Mr. Sagan, a former publisher and real estate developer, has put together an $8 million financial package that includes approximately $4 million of tax exempt bonds issued by the State of Illinois (the first time that a state has used its educational facilities authority to support construction of a theater), and approximately $1 million in grants from the National Endowment for the Arts, the MacArthur Foundation, and a few other deep pockets.@@@@1@72@@oe@2-2-2013
21936051@unknown@formal@none@1@S@The rest, he is confident, can be raised.@@@@1@8@@oe@2-2-2013
21936052@unknown@formal@none@1@S@His board members alone have pledged $800,000 and he is just beginning to massage local foundations and corporations.@@@@1@18@@oe@2-2-2013
21936053@unknown@formal@none@1@S@Mr. Sagan compares the importance of Steppenwolf with Orson Welles's Mercury Theater in the '30s.@@@@1@15@@oe@2-2-2013
21936054@unknown@formal@none@1@S@But Welles's theater company turned out to have a brief -- one might say a mercurial -- existence.@@@@1@18@@oe@2-2-2013
21936055@unknown@formal@none@1@S@What will Mr. Sagan do with his new theater building if the allure of Hollywood and Broadway proves too much for such Steppenwolf stalwarts as John Malkovich ("Dangerous Liaisons"), Joan Allen ("The Heidi Chronicles"), and Glenne Headly ("Lonesome Dove"), and the company crumbles?@@@@1@43@@oe@2-2-2013
21936056@unknown@formal@none@1@S@"That's OK," Mr. Sagan replies.@@@@1@5@@oe@2-2-2013
21936057@unknown@formal@none@1@S@"Let this building be Steppenwolf's legacy to Chicago theater."@@@@1@9@@oe@2-2-2013
21936058@unknown@formal@none@1@S@Mr. Henning is a Chicago-based law firm management consultant and a writer.@@@@1@12@@oe@2-2-2013
21937001@unknown@formal@none@1@S@After enduring three days of heavy selling, the beleaguered Nasdaq over-the-counter market finally rebounded, rising sharply in hearty trading.@@@@1@19@@oe@2-2-2013
21937002@unknown@formal@none@1@S@The Nasdaq Composite Index jumped 0.7%, or 3.35, to 463.28.@@@@1@10@@oe@2-2-2013
21937003@unknown@formal@none@1@S@It rose more than the New York Stock Exchange Composite, which improved 0.2%.@@@@1@13@@oe@2-2-2013
21937004@unknown@formal@none@1@S@Among bigger stocks, the Nasdaq 100 Index rose 1%, or 4.56, to 453.05, while the Dow Jones Industrial Average was up 0.2%.@@@@1@22@@oe@2-2-2013
21937005@unknown@formal@none@1@S@Richard Bruno, head of OTC trading at PaineWebber, said the OTC market has a habit of lagging big moves on the New York Stock Exchange.@@@@1@25@@oe@2-2-2013
21937006@unknown@formal@none@1@S@While the industrial average rallied on Monday following last Friday's collapse, the OTC market, which didn't suffer too badly during the correction, tumbled.@@@@1@23@@oe@2-2-2013
21937007@unknown@formal@none@1@S@"Our market got hit a lot harder on Monday than the listed market," Mr. Bruno said.@@@@1@16@@oe@2-2-2013
21937008@unknown@formal@none@1@S@"We're just recovering and getting back to business as usual.@@@@1@10@@oe@2-2-2013
21937009@unknown@formal@none@1@S@I'm encouraged by the action."@@@@1@5@@oe@2-2-2013
21937010@unknown@formal@none@1@S@The trading pace was busy, with 4,343 issues and 147.6 million shares changing hands.@@@@1@14@@oe@2-2-2013
21937011@unknown@formal@none@1@S@Advancing issues beat declining ones, 1,271 to 811.@@@@1@8@@oe@2-2-2013
21937012@unknown@formal@none@1@S@Much of the jockeying by OTC traders and investors centered on shares of companies that might be financially affected by damage from the devastating earthquake in northern California.@@@@1@28@@oe@2-2-2013
21937013@unknown@formal@none@1@S@As investors speculated about the long- and short-term implications, shares of a number of companies that might either profit or face problems because of the disaster were actively traded.@@@@1@29@@oe@2-2-2013
21937014@unknown@formal@none@1@S@Heading the list: insurance, construction and technology companies located in the San Francisco Bay Area.@@@@1@15@@oe@2-2-2013
21937015@unknown@formal@none@1@S@Insurance-related stocks were mixed as investors tried to figure out how to assess the impact of the property damage and deaths on those concerns.@@@@1@24@@oe@2-2-2013
21937016@unknown@formal@none@1@S@Traders said property-casualty companies with the heaviest exposure in the San Francisco area include the OTC's Safeco and Ohio Casualty.@@@@1@20@@oe@2-2-2013
21937017@unknown@formal@none@1@S@Frank Gilmartin, a trader who follows insurance stocks for Fox-Pitt Kelton, said his strategy was to sell early.@@@@1@18@@oe@2-2-2013
21937018@unknown@formal@none@1@S@Then, if the stocks fell sharply, he planned to begin buying them aggressively, on the theory that the companies that insure against property damage and accidents will have to raise rates eventually to compensate for the claims they will pay to earthquake victims and victims of last month's Hurricane Hugo.@@@@1@50@@oe@2-2-2013
21937019@unknown@formal@none@1@S@As well, reinsurers and insurance brokerage companies will have improved profits.@@@@1@11@@oe@2-2-2013
21937020@unknown@formal@none@1@S@Many investors expected damage from the hurricane to be the catalyst for higher rates in the industry, which has been depressed because of low rates arising from intense competition.@@@@1@29@@oe@2-2-2013
21937021@unknown@formal@none@1@S@But Mr. Gilmartin said the hurricane damage wasn't extensive enough to prompt premium boosts.@@@@1@14@@oe@2-2-2013
21937022@unknown@formal@none@1@S@"The companies just gave back what they had reserved for," he said.@@@@1@12@@oe@2-2-2013
21937023@unknown@formal@none@1@S@"Now, they'll have to increase their coffers to protect for the future and that means rate increases."@@@@1@17@@oe@2-2-2013
21937024@unknown@formal@none@1@S@Overall OTC insurance issues were mixed.@@@@1@6@@oe@2-2-2013
21937025@unknown@formal@none@1@S@Safeco fell 1/8 to 32 5/8 on 462,900 shares.@@@@1@9@@oe@2-2-2013
21937026@unknown@formal@none@1@S@Ohio Casualty rose 1/4 to 51 3/4 on 137,200 shares.@@@@1@10@@oe@2-2-2013
21937027@unknown@formal@none@1@S@St. Paul Cos. jumped 2 to 59 3/4 on 517,500 shares.@@@@1@11@@oe@2-2-2013
21937028@unknown@formal@none@1@S@Academy Insurance fell 1/32 to 1 3/16; but volume totaled 1.2 million shares.@@@@1@13@@oe@2-2-2013
21937029@unknown@formal@none@1@S@The Nasdaq Insurance Index jumped 4.15 to 529.32 on the day, while the barometer of big insurance and banking issues climbed 1.72 to 455.29.@@@@1@24@@oe@2-2-2013
21937030@unknown@formal@none@1@S@Investors expect SunGard Data Systems, a company that provides disaster recovery services for computer-dependent businesses, to profit from the earthquake.@@@@1@20@@oe@2-2-2013
21937031@unknown@formal@none@1@S@SunGard's stock rose 1 3/4 to 21 1/4 on 194,000 shares.@@@@1@11@@oe@2-2-2013
21937032@unknown@formal@none@1@S@Shares of Kasler, a California road and bridge builder, were heavily traded, jumping 2 1/8 to 9 7/8 on 1.3 million shares.@@@@1@22@@oe@2-2-2013
21937033@unknown@formal@none@1@S@Guy F. Atkinson added 7/8 to 16 7/8, on 335,700 shares.@@@@1@11@@oe@2-2-2013
21937034@unknown@formal@none@1@S@The company, based in San Francisco, provides industrial infrastructure engineering and construction services.@@@@1@13@@oe@2-2-2013
21937035@unknown@formal@none@1@S@Traders were initially nervous about shares of companies, including many leading OTC computer companies, such as Apple Computer with offices in the vicinity of the area damaged by the quake.@@@@1@30@@oe@2-2-2013
21937036@unknown@formal@none@1@S@But most of those stocks fared well.@@@@1@7@@oe@2-2-2013
21937037@unknown@formal@none@1@S@Apple Computer gained 1 to 48 1/4; Ashton-Tate rose 3/8 to 10 3/8.@@@@1@13@@oe@2-2-2013
21937038@unknown@formal@none@1@S@Intel also added 3/8 to 33 7/8.@@@@1@7@@oe@2-2-2013
21937039@unknown@formal@none@1@S@But Sun Microsystems slipped 1/4 to 17 1/4.@@@@1@8@@oe@2-2-2013
21937040@unknown@formal@none@1@S@Shares of biotechnology companies in the area were also higher.@@@@1@10@@oe@2-2-2013
21937041@unknown@formal@none@1@S@Chiron was up 1/2 to 27 and Cetus gained 1/2 to 16 3/8.@@@@1@13@@oe@2-2-2013
21937042@unknown@formal@none@1@S@The stocks of computer-related companies located outside California improved, too.@@@@1@10@@oe@2-2-2013
21937043@unknown@formal@none@1@S@Microsoft advanced 1 7/8 to 80 1/2 and Lotus Development added 1 1/4 to 32 1/2.@@@@1@16@@oe@2-2-2013
21937044@unknown@formal@none@1@S@In other earthquake-related news, Hambrecht & Quist's OTC market makers were excused from trading yesterday and its positions were frozen for the day by the National Association of Securities Dealers.@@@@1@30@@oe@2-2-2013
21937045@unknown@formal@none@1@S@Power couldn't be restored at the company's San Francisco headquarters to allow trading yesterday morning.@@@@1@15@@oe@2-2-2013
21937046@unknown@formal@none@1@S@In New York, Roger Killion, a Hambrecht executive vice president, said he expects OTC trading at the company to resume this morning, either in New York or in San Francisco.@@@@1@30@@oe@2-2-2013
21937047@unknown@formal@none@1@S@In other trading, Medco Containment Services gained 7/8 to 15 on 1.9 million shares after reporting a loss for the first quarter, which ended Sept. 30.@@@@1@26@@oe@2-2-2013
21937048@unknown@formal@none@1@S@The company earned $6.6 million in the year-earlier quarter.@@@@1@9@@oe@2-2-2013
21937049@unknown@formal@none@1@S@Jaguar's American depositary receipts added 3/8 to 10 3/4 on volume of 1.1 million.@@@@1@14@@oe@2-2-2013
21937050@unknown@formal@none@1@S@Analysts in London believe investors, despite their stampede to dump takeover stocks, should hold on tight to their Jaguar shares, this newspaper's Heard on the Street column said yesterday.@@@@1@29@@oe@2-2-2013
21937051@unknown@formal@none@1@S@Amgen rose 1 1/2 to 50 3/4 in heavy trading.@@@@1@10@@oe@2-2-2013
21937052@unknown@formal@none@1@S@Analysts figure Amgen could benefit as a result of troubles facing its competitor, Genetics Institute, over the anti-anemia drug EPO.@@@@1@20@@oe@2-2-2013
21937053@unknown@formal@none@1@S@Genetics Institute disclosed recently that it is embroiled in a dispute with Boehringer Mannheim, which distributes the drug, regarding the usability of some batches.@@@@1@24@@oe@2-2-2013
21938001@unknown@formal@none@1@S@Ciba-Geigy Ltd. and Chiron Corp. said they extended their offer for Connaught BioSciences Inc., valued at 866 million Canadian dollars (US$736 million) to Oct. 27.@@@@1@25@@oe@2-2-2013
21938002@unknown@formal@none@1@S@The companies earlier said they didn't want to raise their offer to match a rival bid by Institut Merieux S.A. of C$37 a share, or C$942 million.@@@@1@27@@oe@2-2-2013
21938003@unknown@formal@none@1@S@But they said the C$30-a-share bid, which was due to expire Monday, may still be extended or varied.@@@@1@18@@oe@2-2-2013
21938004@unknown@formal@none@1@S@Merieux, a vaccine manufacturer based in Lyon, France, is 51%-held by French state-owned Rhone-Poulenc S.A.@@@@1@15@@oe@2-2-2013
21938005@unknown@formal@none@1@S@Ciba-Geigy is a major pharmaceutical concern based in Basel, Switzerland.@@@@1@10@@oe@2-2-2013
21938006@unknown@formal@none@1@S@Chiron, another pharmaceutical concern, is based in Emeryville, Calif.@@@@1@9@@oe@2-2-2013
21938007@unknown@formal@none@1@S@Connaught is a biotechnology research and vaccine manufacturing concern.@@@@1@9@@oe@2-2-2013
21938008@unknown@formal@none@1@S@Institut Merieux's bid for Toronto-based Connaught has run into problems with the Canadian government, which told Merieux last week that it wasn't convinced that the proposed acquisition would be of "net benefit" to Canada.@@@@1@34@@oe@2-2-2013
21938009@unknown@formal@none@1@S@Merieux officials are expected to meet with federal officials in Ottawa today to discuss the decision.@@@@1@16@@oe@2-2-2013
21939001@unknown@formal@none@1@S@Within minutes after the stock market closed Friday, I called Sen. Bill Bradley of New Jersey, advised him that the Dow Jones Industrial Average had declined by 190 points late that afternoon, and cheerfully informed him that he and his fellow Democrats were to blame.@@@@1@45@@oe@2-2-2013
21939002@unknown@formal@none@1@S@They had dealt a major setback that afternoon to President Bush's capital-gains tax cut proposal, which had seemed in the bag after it passed the House overwhelmingly earlier in the month.@@@@1@31@@oe@2-2-2013
21939003@unknown@formal@none@1@S@Sen. Bradley has it in his mind that such a tax cut would unravel the tax reform he helped engineer in 1986.@@@@1@22@@oe@2-2-2013
21939004@unknown@formal@none@1@S@But he knows that as many as 20 of his fellow Democrats are disposed to vote for the cut, popular among their constituents.@@@@1@23@@oe@2-2-2013
21939005@unknown@formal@none@1@S@As a result, he took the lead in arguing that the cut should be blocked on procedural grounds.@@@@1@18@@oe@2-2-2013
21939006@unknown@formal@none@1@S@He helped persuade 10 of these senators to support him and Majority Leader George Mitchell on these grounds.@@@@1@18@@oe@2-2-2013
21939007@unknown@formal@none@1@S@The budget reconciliation had to be dealt with by the Oct. 15 deadline, and these Senate Democrats refused to agree to allow a vote to append capital gains to the budget bill, knowing it would pass.@@@@1@36@@oe@2-2-2013
21939008@unknown@formal@none@1@S@Denied a vote on substance, the GOP leadership in the Senate on Friday morning was confronted with a hard choice.@@@@1@20@@oe@2-2-2013
21939009@unknown@formal@none@1@S@It could throw in the towel and hope to win on capital gains late this month, or it could follow the White House strategy, to veto reconciliation unless capital gains was appended.@@@@1@32@@oe@2-2-2013
21939010@unknown@formal@none@1@S@The U.S. Chamber of Commerce has been in the forefront in supporting the Bush proposal.@@@@1@15@@oe@2-2-2013
21939011@unknown@formal@none@1@S@It endorsed the White House strategy, believing it to be the surest way to victory.@@@@1@15@@oe@2-2-2013
21939012@unknown@formal@none@1@S@At noon Friday, a senior White House official advised Richard Rahn, the Chamber's chief economist, that the White House would not agree to a budget reconciliation bill unless it had firm assurances that a vote on substance would be permitted in the Senate.@@@@1@43@@oe@2-2-2013
21939013@unknown@formal@none@1@S@Two hours later, the first word emerged on Capitol Hill that the administration had agreed to reconciliation with no such assurances from Senate Democrats.@@@@1@24@@oe@2-2-2013
21939014@unknown@formal@none@1@S@Mr. Rahn was shocked, telephoning the office of Richard Darman, director of the Office of Management and Budget, and the administration's chief strategist on this issue.@@@@1@26@@oe@2-2-2013
21939015@unknown@formal@none@1@S@He left a message accusing Mr. Darman of selling out.@@@@1@10@@oe@2-2-2013
21939016@unknown@formal@none@1@S@It was the Senate Republicans, though, who had edged away from the veto strategy.@@@@1@14@@oe@2-2-2013
21939017@unknown@formal@none@1@S@The stock market reacted as Mr. Rahn did, crumbling as it absorbed the news that Mr. Darman's strategy had been abandoned.@@@@1@21@@oe@2-2-2013
21939018@unknown@formal@none@1@S@The stock market, after all, represents the collective expectations about the value of the future income stream of the nation's capital stock, discounted to present value.@@@@1@26@@oe@2-2-2013
21939019@unknown@formal@none@1@S@Why should it be so surprising that a 30% cut in the capital-gains tax would have such an enormous impact on the value of the nation's capital stock?@@@@1@28@@oe@2-2-2013
21939020@unknown@formal@none@1@S@The total value of privately held assets is easily more than $15 trillion.@@@@1@13@@oe@2-2-2013
21939021@unknown@formal@none@1@S@The value traded on the exchanges is close to $3 trillion.@@@@1@11@@oe@2-2-2013
21939022@unknown@formal@none@1@S@If the tax on any gain to those assets was doubled, wouldn't the value fall to the owners of the assets?@@@@1@21@@oe@2-2-2013
21939023@unknown@formal@none@1@S@Isn't it reasonable to assume that the asset you own would be worth more if the government suddenly announced that if you sold it, you would be able to keep 30% more of its gain than you previously believed?@@@@1@39@@oe@2-2-2013
21939024@unknown@formal@none@1@S@Indeed, the stock market's steady advance this year tracked with President Bush's success in advancing his capital-gains proposal.@@@@1@18@@oe@2-2-2013
21939025@unknown@formal@none@1@S@A 30% cut in this year's capital gains alone amounts to roughly $50 billion.@@@@1@14@@oe@2-2-2013
21939026@unknown@formal@none@1@S@We're talking real money.@@@@1@4@@oe@2-2-2013
21939027@unknown@formal@none@1@S@When Richard Rahn advised the financial press that the market crash was caused by the setback to capital gains, he was generally ignored and mildly ridiculed.@@@@1@26@@oe@2-2-2013
21939028@unknown@formal@none@1@S@Instead, the press corps readily accepted the notion that a snag in the takeover financing of United Airlines instantly knocked 7% off the value of the nation's capital stock and caused convulsions around the world.@@@@1@35@@oe@2-2-2013
21939029@unknown@formal@none@1@S@Mr. Rahn was pointing out an elephant rumbling through Wall Street while conventional wisdom had fastened on the UAL flea.@@@@1@20@@oe@2-2-2013
21939030@unknown@formal@none@1@S@Why is this happening?@@@@1@4@@oe@2-2-2013
21939031@unknown@formal@none@1@S@For one thing, quite a number of the leading spokesmen on Wall Street are not portfolio managers, who understand that the value of assets is greatly affected by how government taxes those assets.@@@@1@33@@oe@2-2-2013
21939032@unknown@formal@none@1@S@They are economists and financial reporters who sympathize with the view that a capital-gains tax cut benefits the rich.@@@@1@19@@oe@2-2-2013
21939033@unknown@formal@none@1@S@Yet they somehow think that Wall Street is indifferent to losing the tax cut that seemed so close Friday morning and is now problematic.@@@@1@24@@oe@2-2-2013
21939034@unknown@formal@none@1@S@The market rebound Monday followed weekend assurances from Mr. Darman that the administration has other plans to win the cut, which is alive and well.@@@@1@25@@oe@2-2-2013
21939035@unknown@formal@none@1@S@Sen. Bradley's argument is that a capital-gains tax cut would be bad for the economy in the longer run.@@@@1@19@@oe@2-2-2013
21939036@unknown@formal@none@1@S@It would inevitably lead to an increase in marginal income-tax rates in 1990, he thinks, when the White House is forced to ask for higher taxes to meet budget targets.@@@@1@30@@oe@2-2-2013
21939037@unknown@formal@none@1@S@That is, with capital gains cut, the glue of the 1986 accord will be gone, and political realities will push up income-tax rates.@@@@1@23@@oe@2-2-2013
21939038@unknown@formal@none@1@S@The counter-argument, which he has heard, is that if he and his fellow Democrats are successful in killing the president's proposal, the revenue gap will open up tremendously in 1990 because of the weakened economy.@@@@1@35@@oe@2-2-2013
21939039@unknown@formal@none@1@S@In this atmosphere, there would be no serious consideration of tax increases.@@@@1@12@@oe@2-2-2013
21939040@unknown@formal@none@1@S@If Sen. Bradley would permit a vote on capital gains, though, it would pass, Christmas retail sales would be strong instead of burdened by a falling stock market, the 1990 economy would be robust, and the revenue gains at every level of government, including New Jersey's, would be surprisingly high.@@@@1@50@@oe@2-2-2013
21939041@unknown@formal@none@1@S@No tax increases would be necessary.@@@@1@6@@oe@2-2-2013
21939042@unknown@formal@none@1@S@The struggle over capital gains is the most important game in town.@@@@1@12@@oe@2-2-2013
21939043@unknown@formal@none@1@S@In Washington and on Wall Street.@@@@1@6@@oe@2-2-2013
21939044@unknown@formal@none@1@S@Mr. Wanniski is president of Polyconomics Inc., of Morristown, N.J.@@@@1@10@@oe@2-2-2013
21940001@unknown@formal@none@1@S@Federal prosecutors said they have obtained a guilty plea from another person in the government's ongoing probe of illegal payments in the record industry.@@@@1@24@@oe@2-2-2013
21940002@unknown@formal@none@1@S@William Craig, an independent record promoter, pleaded guilty to payola and criminal tax charges, according to a statement issued by Gary Feess, the U.S. attorney here.@@@@1@26@@oe@2-2-2013
21940003@unknown@formal@none@1@S@Payola is the practice of making illegal, undisclosed payments to radio station personnel in return for getting the stations to play certain songs over the air.@@@@1@26@@oe@2-2-2013
21940004@unknown@formal@none@1@S@As part of his plea agreement with the government, the 44-year-old Mr. Craig faces a maximum of three years in prison.@@@@1@21@@oe@2-2-2013
21940005@unknown@formal@none@1@S@In return, Mr. Craig agreed to cooperate in the government's continuing payola probe, says a spokeswoman for the U.S. attorney's office.@@@@1@21@@oe@2-2-2013
21940006@unknown@formal@none@1@S@Mr. Craig and three others were indicted last year as part of that payola probe.@@@@1@15@@oe@2-2-2013
21940007@unknown@formal@none@1@S@Two other defendants previously pleaded guilty, and charges against the third were dropped.@@@@1@13@@oe@2-2-2013
21941001@unknown@formal@none@1@S@Companies listed below reported quarterly profit substantially different from the average of analysts' estimates.@@@@1@14@@oe@2-2-2013
21941002@unknown@formal@none@1@S@The companies are followed by at least three analysts, and had a minimum five-cent change in actual earnings per share.@@@@1@20@@oe@2-2-2013
21941003@unknown@formal@none@1@S@Estimated and actual results involving losses are omitted.@@@@1@8@@oe@2-2-2013
21941004@unknown@formal@none@1@S@The percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past 30 days.@@@@1@23@@oe@2-2-2013
21941005@unknown@formal@none@1@S@Otherwise, actual profit is compared with the 300-day estimate.@@@@1@9@@oe@2-2-2013
21942001@unknown@formal@none@1@S@Grumman Corp. was awarded a $53.1 million Navy contract for advanced acquisition of six E-2C tactical control aircraft.@@@@1@18@@oe@2-2-2013
21942002@unknown@formal@none@1@S@LTV Corp. won a $25 million Army contract for missile test equipment.@@@@1@12@@oe@2-2-2013
21942003@unknown@formal@none@1@S@Unisys Corp. received a $24.4 million Air Force contract for computer programming.@@@@1@12@@oe@2-2-2013
21942004@unknown@formal@none@1@S@Ford Aerospace & Communications Corp., a unit of Ford Motor Co., was awarded a $15.9 million Air Force contract for computer improvements.@@@@1@22@@oe@2-2-2013
21942005@unknown@formal@none@1@S@Rockwell International Corp. was issued a $12.5 million Air Force contract for changes in the National Aerospace Plane.@@@@1@18@@oe@2-2-2013
21943001@unknown@formal@none@1@S@The Tennessee Valley Authority issued $4 billion in bonds in the federal utility's first public debt offering in 15 years.@@@@1@20@@oe@2-2-2013
21943002@unknown@formal@none@1@S@Proceeds from the bonds, with coupon rates in the 8% range, will be used to replace bonds with an average interest rate of 13.1%.@@@@1@24@@oe@2-2-2013
21943003@unknown@formal@none@1@S@The TVA said the refinancing should save $75 million a year in interest payments.@@@@1@14@@oe@2-2-2013
21943004@unknown@formal@none@1@S@The refinancing is part of the TVA's strategy of dealing with what has been an intractable problem: its staggering $18.5 billion debt, most of which is owed to the Treasury Department's Federal Financing Bank.@@@@1@34@@oe@2-2-2013
21943005@unknown@formal@none@1@S@The TVA currently plans to issue a total of $6.7 billion in bonds to refinance its high-interest debt.@@@@1@18@@oe@2-2-2013
21943006@unknown@formal@none@1@S@The $4 billion bond issue also will help the TVA meet its goal of not raising rates for another year, said William F. Malec, the agency's chief financial officer.@@@@1@29@@oe@2-2-2013
21943007@unknown@formal@none@1@S@The bond issue is TVA's first public offering since the Financing Bank was created in 1974, primarily to finance the TVA.@@@@1@21@@oe@2-2-2013
21943008@unknown@formal@none@1@S@But the offering almost didn't happen.@@@@1@6@@oe@2-2-2013
21943009@unknown@formal@none@1@S@The TVA, in fact, decided to proceed with the bond offering following an agreement last week with the Financing Bank, which allows TVA to keep borrowing short term from the bank for two years after it goes to the public market.@@@@1@41@@oe@2-2-2013
21943010@unknown@formal@none@1@S@The Treasury contended that TVA couldn't borrow from both it and the public debt market.@@@@1@15@@oe@2-2-2013
21943011@unknown@formal@none@1@S@The $4 billion in bonds break down as follows: $1 billion in five-year bonds with a coupon rate of 8.25% and a yield to maturity of 8.33%; $1 billion in 10-year bonds with a coupon rate of 8.375% and a yield to maturity of 8.42%; $2 billion in 30-year bonds with five-year call protection, a coupon rate of 8.75% and a yield to maturity of 9.06%.@@@@1@66@@oe@2-2-2013
21943012@unknown@formal@none@1@S@Managing the bond issue is a group of investment banks headed by First Boston Corp. and co-managed by Goldman, Sachs & Co., Merrill Lynch Capital Markets, Morgan Stanley & Co., and Salomon Brothers Inc.@@@@1@34@@oe@2-2-2013
21944001@unknown@formal@none@1@S@Mutual-fund czar John M. Templeton has put his money where his moniker is, pouring $1.4 million into one of his own funds, the Templeton Value Fund.@@@@1@26@@oe@2-2-2013
21944002@unknown@formal@none@1@S@Mr. Templeton owns shares in several of the 33 funds that his firm manages, but only in three of the 10 available to U.S. investors, according to filings with the Securities and Exchange Commission.@@@@1@34@@oe@2-2-2013
21944003@unknown@formal@none@1@S@Those are Templeton Global Income, Templeton Emerging Markets and now the Value Fund.@@@@1@13@@oe@2-2-2013
21944004@unknown@formal@none@1@S@Why did he add the Value Fund to the list?@@@@1@10@@oe@2-2-2013
21944005@unknown@formal@none@1@S@Because he's very bullish on the emerging growth stocks that make up the fund's portfolio, Mr. Templeton said from his Bahamas hideaway.@@@@1@22@@oe@2-2-2013
21944006@unknown@formal@none@1@S@"Emerging growth stocks haven't been popular in America for years, they've been neglected," he said, and their prices often trail the market as a whole.@@@@1@25@@oe@2-2-2013
21944007@unknown@formal@none@1@S@Mr. Templeton's 147,300-share purchase in the closed-end fund came before the U.S. stock market's plunge last Friday, but still proved slightly profitable.@@@@1@22@@oe@2-2-2013
21944008@unknown@formal@none@1@S@Mr. Templeton bought his shares in several separate purchases between Aug. 30 and Sept. 28, according to reports with the SEC.@@@@1@21@@oe@2-2-2013
21944009@unknown@formal@none@1@S@He bought at share prices ranging from $9.375 to $9.625.@@@@1@10@@oe@2-2-2013
21944010@unknown@formal@none@1@S@The fund closed yesterday in New York Stock Exchange composite trading at $9.625, up 12.5 cents.@@@@1@16@@oe@2-2-2013
21944011@unknown@formal@none@1@S@In addition, Mr. Templeton received a dividend of 22 cents a share Oct. 5.@@@@1@14@@oe@2-2-2013
21944012@unknown@formal@none@1@S@RIVER RUN:@@@@1@2@@oe@2-2-2013
21944013@unknown@formal@none@1@S@A senior vice president and a vice president at James River Corp. sold the majority of their shares in the Richmond, Va., paper-products concern in late August and early September, reports filed with the SEC show.@@@@1@36@@oe@2-2-2013
21944014@unknown@formal@none@1@S@The executives, who got $30.88 a share for the stock, showed good timing.@@@@1@13@@oe@2-2-2013
21944015@unknown@formal@none@1@S@In Big Board trading yesterday, James River shares closed at $28.375, down 12.5 cents.@@@@1@14@@oe@2-2-2013
21944016@unknown@formal@none@1@S@On Sept. 6, Robert Joseph Sherry, the firm's senior vice president of employee and public relations, sold 4,000 shares, leaving himself with 1,062 shares of James River.@@@@1@27@@oe@2-2-2013
21944017@unknown@formal@none@1@S@Including a sale of stock last February, Mr. Sherry has sold 88% of his stake in the company this year, according to SEC filings.@@@@1@24@@oe@2-2-2013
21944018@unknown@formal@none@1@S@Mr. Sherry declined to comment when asked about the sales.@@@@1@10@@oe@2-2-2013
21944019@unknown@formal@none@1@S@James A. Toney, a vice president, sold 1,500 shares Aug. 28.@@@@1@11@@oe@2-2-2013
21944020@unknown@formal@none@1@S@He still has 1,143 shares, according to SEC files.@@@@1@9@@oe@2-2-2013
21944021@unknown@formal@none@1@S@Mr. Toney also declined to comment.@@@@1@6@@oe@2-2-2013
21944022@unknown@formal@none@1@S@INTEREST-RATE PLAYER:@@@@1@2@@oe@2-2-2013
21944023@unknown@formal@none@1@S@Cincinnati Gas & Electric Co. tops the companies portion of the accompanying Insider Trading table this week.@@@@1@17@@oe@2-2-2013
21944024@unknown@formal@none@1@S@Three of the utility's directors have at least doubled their holdings in the company since July.@@@@1@16@@oe@2-2-2013
21944025@unknown@formal@none@1@S@The largest purchase was by Dudley Taft, who bought 4,400 shares for $125,075.@@@@1@13@@oe@2-2-2013
21944026@unknown@formal@none@1@S@Mr. Taft, who is also president of Taft Broadcasting Co., said he bought the shares because he keeps a utility account at the brokerage firm of Salomon Brothers Inc., which had recommended the stock as a good buy.@@@@1@38@@oe@2-2-2013
21944027@unknown@formal@none@1@S@Salomon Brothers confirmed that it has had a buy recommendation on the stock for about two years.@@@@1@17@@oe@2-2-2013
21944028@unknown@formal@none@1@S@"Cincinnati Gas & Electric is in good shape," Mr. Taft said, and utilities are "a good investment because interest rates are going down."@@@@1@23@@oe@2-2-2013
21944029@unknown@formal@none@1@S@Mr. Taft paid an average of $28.43 for each share.@@@@1@10@@oe@2-2-2013
21944030@unknown@formal@none@1@S@The stock closed yesterday on the Big Board at $28.75, down 12.5 cents.@@@@1@13@@oe@2-2-2013
21944031@unknown@formal@none@1@S@The two other directors bought 1,000 and 1,900 shares, respectively, at prices between $28.15 a share and $28.75 a share, filings with the SEC show.@@@@1@25@@oe@2-2-2013
21944032@unknown@formal@none@1@S@The two couldn't be reached for comment.@@@@1@7@@oe@2-2-2013
21944033@unknown@formal@none@1@S@A company spokesman said he couldn't explain their sudden bullishness.@@@@1@10@@oe@2-2-2013
21944034@unknown@formal@none@1@S@"I don't know of any news or anything unusual happening here," said Bruce Stoecklin, director of media services.@@@@1@18@@oe@2-2-2013
21944035@unknown@formal@none@1@S@Peter Pae in Pittsburgh contributed to this article.@@@@1@8@@oe@2-2-2013
21945001@unknown@formal@none@1@S@T. Rowe Price Associates Inc. said directors recommended stockholders approve a 2-for-1 stock split and an increase in authorized shares to 25 million from 10 million.@@@@1@26@@oe@2-2-2013
21945002@unknown@formal@none@1@S@Stockholders will vote on the proposal at a meeting Dec. 13.@@@@1@11@@oe@2-2-2013
21945003@unknown@formal@none@1@S@T. Rowe Price is an investment adviser to mutual funds, institutions and individuals.@@@@1@13@@oe@2-2-2013
21946001@unknown@formal@none@1@S@In one of the first indoor air-pollution cases to go to trial, a state-court jury decided in favor of the defendant, Burlington Industries Inc.@@@@1@24@@oe@2-2-2013
21946002@unknown@formal@none@1@S@The verdict, reached late last week in Cincinnati, may end an eight-year legal battle for the Greensboro, N.C., carpet maker.@@@@1@20@@oe@2-2-2013
21946003@unknown@formal@none@1@S@Glenn and Sharon Beebe of Cincinnati had sued the com- pany in 1981 after installing Burlington carpets in their office.@@@@1@20@@oe@2-2-2013
21946004@unknown@formal@none@1@S@The Beebes alleged that toxic fumes from the carpets made them sick.@@@@1@12@@oe@2-2-2013
21946005@unknown@formal@none@1@S@As a result of their illness, the Beebes said, they lost $1.8 million in wages and earnings.@@@@1@17@@oe@2-2-2013
21946006@unknown@formal@none@1@S@In addition, they said that months of exposure to the chemicals has left them sensitive to a wide range of commonly used substances.@@@@1@23@@oe@2-2-2013
21946007@unknown@formal@none@1@S@The case had been closely watched because attorneys anticipate increasing litigation nationally over the so-called sick-building syndrome.@@@@1@17@@oe@2-2-2013
21946008@unknown@formal@none@1@S@Plaintiffs' lawyers say that buildings become "sick" when inadequate fresh air and poor ventilation systems lead pollutants to build up inside.@@@@1@21@@oe@2-2-2013
21946009@unknown@formal@none@1@S@Anthony J. Iaciofano, a lawyer for Burlington, said the company believes the Beebes' symptoms were not related to the carpeting.@@@@1@20@@oe@2-2-2013
21946010@unknown@formal@none@1@S@He said that ill effects from new carpets manifest themselves immediately but that the Beebes' symptoms appeared months later.@@@@1@19@@oe@2-2-2013
21946011@unknown@formal@none@1@S@Catherine Adams, the Beebes' lawyer, said the verdict would not discourage other plaintiffs from filing such suits.@@@@1@17@@oe@2-2-2013
21946012@unknown@formal@none@1@S@Scientists are only beginning to understand what causes sick-building syndrome and much of that research was unavailable when the Beebes filed the case, she said.@@@@1@25@@oe@2-2-2013
21946013@unknown@formal@none@1@S@The Beebes now believe that a prime culprit for their injuries was fumes from an adhesive used in the carpeting.@@@@1@20@@oe@2-2-2013
21946014@unknown@formal@none@1@S@But the Beebes didn't come to that conclusion until time limits had elapsed for adding the adhesives maker as a defendant in the case, Ms. Adams said.@@@@1@27@@oe@2-2-2013
21946015@unknown@formal@none@1@S@The Beebes have not yet decided whether to appeal.@@@@1@9@@oe@2-2-2013
21946016@unknown@formal@none@1@S@TIMES SQUARE development opponents are dealt setback.@@@@1@7@@oe@2-2-2013
21946017@unknown@formal@none@1@S@The Appellate Division of New York State Supreme Court dismissed six lawsuits attempting to block a $2.5 billion project planned for 42nd Street in Manhattan.@@@@1@25@@oe@2-2-2013
21946018@unknown@formal@none@1@S@Opponents of the project had claimed that the city and the state of New York, which are co-sponsoring the project, had failed to adhere to environmental guidelines.@@@@1@27@@oe@2-2-2013
21946019@unknown@formal@none@1@S@All but two of the 40 or so lawsuits that have been filed since the project's 1984 approval have been dismissed before the trial stage.@@@@1@25@@oe@2-2-2013
21946020@unknown@formal@none@1@S@The two that remain haven't yet reached the pre-trial fact-finding stage.@@@@1@11@@oe@2-2-2013
21946021@unknown@formal@none@1@S@State officials said the court's ruling clears the way for proceedings to condemn buildings in the area.@@@@1@17@@oe@2-2-2013
21946022@unknown@formal@none@1@S@"This project is ready to move," said State Urban Development Corp. Chairman Vincent Tese.@@@@1@14@@oe@2-2-2013
21946023@unknown@formal@none@1@S@But developers of four planned office towers cautioned that obstacles still remain.@@@@1@12@@oe@2-2-2013
21946024@unknown@formal@none@1@S@As part of the agreement with the state, the developers -- a partnership of Park Tower Realty and Prudential Insurance Co. of America -- said they would not proceed with condemnation proceedings while there was "significant litigation" pending.@@@@1@38@@oe@2-2-2013
21946025@unknown@formal@none@1@S@Park Tower General Counsel Matthew Mayer said the development team will have to review two additional lawsuits before putting up a $155 million letter of credit to cover condemnation costs.@@@@1@30@@oe@2-2-2013
21946026@unknown@formal@none@1@S@Also, he said, the partnership is waiting to see whether the appellate division's ruling will be appealed.@@@@1@17@@oe@2-2-2013
21946027@unknown@formal@none@1@S@The plan, which has been plagued with delays and business-related setbacks, seeks to transform the area from a seedy thoroughfare to a more wholesome office and theater district.@@@@1@28@@oe@2-2-2013
21946028@unknown@formal@none@1@S@State and city officials are still negotiating with developers to renovate historic theaters and build and operate a merchandise mart and hotel.@@@@1@22@@oe@2-2-2013
21946029@unknown@formal@none@1@S@FEDERAL JUDGE EXPANDS role of U.S. courts in extradition decisions.@@@@1@10@@oe@2-2-2013
21946030@unknown@formal@none@1@S@U.S. District Judge Jack B. Weinstein of Brooklyn, N.Y., ruled that a man implicated in an attack on an Israeli passenger bus in 1986 can be extradited to Israel for trial.@@@@1@31@@oe@2-2-2013
21946031@unknown@formal@none@1@S@A magistrate had initially refused the request, ruling that the attack had been a political act for which the man, Mahmoud El-Abed Ahmad, would be exempt from extradition.@@@@1@28@@oe@2-2-2013
21946032@unknown@formal@none@1@S@However, Judge Weinstein wrote in his opinion late last month that terrorism and acts of war against civilians cannot be defined as political acts.@@@@1@24@@oe@2-2-2013
21946033@unknown@formal@none@1@S@Judge Weinstein also ruled that judges must consider prior to extradition whether the defendant will be treated fairly in a foreign court.@@@@1@22@@oe@2-2-2013
21946034@unknown@formal@none@1@S@To do so, the judge said, the U.S. courts must review the judicial process in the foreign country independently of the State Department's assessment.@@@@1@24@@oe@2-2-2013
21946035@unknown@formal@none@1@S@He said that in this case he concurred with the State Department's decision that Mr. Ahmad should be extradited.@@@@1@19@@oe@2-2-2013
21946036@unknown@formal@none@1@S@Mr. Ahmad's lawyer said he would appeal.@@@@1@7@@oe@2-2-2013
21946037@unknown@formal@none@1@S@Lawyers close to the case said they believed the ruling was unprecedented.@@@@1@12@@oe@2-2-2013
21946038@unknown@formal@none@1@S@"Up until now the courts have said it is not their role to supervise the foreign country's courts," said Jacques Semmelman, the assistant U.S. attorney on the case.@@@@1@28@@oe@2-2-2013
21946039@unknown@formal@none@1@S@FORMER CANADIAN AMBASSADOR to the U.S. Allan E. Gotlieb has joined the Philadelphia law firm of Pepper, Hamilton & Scheetz as a consultant.@@@@1@23@@oe@2-2-2013
21946040@unknown@formal@none@1@S@Mr. Gotlieb, who serves as a consultant to Stikeman, Elliott, one of Canada's biggest law firms, is advising Pepper Hamilton's Washington office on legal matters related to Canadian-U.S. investment, corporate finance and international transactions.@@@@1@34@@oe@2-2-2013
21946041@unknown@formal@none@1@S@QUOTABLE:@@@@1@1@@oe@2-2-2013
21946042@unknown@formal@none@1@S@In a speech prepared for delivery in New York yesterday, retired Justice Lewis Powell contested the notion that the last Supreme Court term marked a turn toward conservatism: "Commentators who agreed on little else unanimously proclaimed a `shift in direction' on the court. . . .@@@@1@46@@oe@2-2-2013
21946043@unknown@formal@none@1@S@I take these pronouncements, like many that have preceded them in past years, with a grain of salt.@@@@1@18@@oe@2-2-2013
21946044@unknown@formal@none@1@S@In an era of `sound bites' and instant opinion polls it is dangerous to apply broad labels to a single term.@@@@1@21@@oe@2-2-2013
21947001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
21947002@unknown@formal@none@1@S@THE YOM KIPPUR WAR, WHEN EGYPT CRASHED into Israel on Oct. 6, 1973, the holiest day in the Jewish calendar, lasted barely a month.@@@@1@24@@oe@2-2-2013
21947003@unknown@formal@none@1@S@But one far-afield effect is still with us.@@@@1@8@@oe@2-2-2013
21947004@unknown@formal@none@1@S@The Arab states, always bitterly resentful of U.S. support toward Israel, realized they held an irresistable weapon -- oil.@@@@1@19@@oe@2-2-2013
21947005@unknown@formal@none@1@S@Early in October, six Arab nations in the Persian Gulf jacked up prices sharply.@@@@1@14@@oe@2-2-2013
21947006@unknown@formal@none@1@S@On Oct. 22, led by Saudi Arabia, the world's largest exporter, they embargoed oil shipments to the U.S. and to the Netherlands, Israel's staunchest European ally.@@@@1@26@@oe@2-2-2013
21947007@unknown@formal@none@1@S@The timing was perfect.@@@@1@4@@oe@2-2-2013
21947008@unknown@formal@none@1@S@The Arabs had tried embargos before.@@@@1@6@@oe@2-2-2013
21947009@unknown@formal@none@1@S@In 1956, when Britain, France and Israel invaded Egypt to seize the Suez Canal, Arab producers cut off supplies to Europe.@@@@1@21@@oe@2-2-2013
21947010@unknown@formal@none@1@S@Texas simply pumped harder.@@@@1@4@@oe@2-2-2013
21947011@unknown@formal@none@1@S@U.S. oil supplies, however, had peaked in 1970 and 1971 and by 1973 were declining.@@@@1@15@@oe@2-2-2013
21947012@unknown@formal@none@1@S@Imports, then six million barrels a day, came primarily from Venezuela and Canada.@@@@1@13@@oe@2-2-2013
21947013@unknown@formal@none@1@S@But Middle East supplies were growing in importance.@@@@1@8@@oe@2-2-2013
21947014@unknown@formal@none@1@S@By 1973, the U.S. was bringing in two million barrels of Arab oil a day, more than 10% of the 17.3 million barrels consumed daily.@@@@1@25@@oe@2-2-2013
21947015@unknown@formal@none@1@S@Politics and economics conspired.@@@@1@4@@oe@2-2-2013
21947016@unknown@formal@none@1@S@Japan and Europe, far more dependent on Mideast oil than the U.S., wouldn't offend the Arabs or trade off their precious supplies.@@@@1@22@@oe@2-2-2013
21947017@unknown@formal@none@1@S@The U.S. did manage to supply the Dutch with oil by relabeling supplies; once oil is shipped, no one can tell its source.@@@@1@23@@oe@2-2-2013
21947018@unknown@formal@none@1@S@But car-happy Americans panicked, and so did the U.S. and other oil-consuming governments.@@@@1@13@@oe@2-2-2013
21947019@unknown@formal@none@1@S@"Shortage" and "crisis" became buzz words, although neither really applied.@@@@1@10@@oe@2-2-2013
21947020@unknown@formal@none@1@S@The spot dislocations that showed up were largely the result of confusion (much of it in Washington), though that was cold comfort for drivers waiting in mile-long lines at the gas pumps.@@@@1@32@@oe@2-2-2013
21947021@unknown@formal@none@1@S@The embargo lasted only six months, but the price hikes became a fact of life.@@@@1@15@@oe@2-2-2013
21947022@unknown@formal@none@1@S@What the Arabs started, inflation finished.@@@@1@6@@oe@2-2-2013
21947023@unknown@formal@none@1@S@Once and for all, $5-a-barrel crude oil and 35-cents-a-gallon gasoline were history.@@@@1@12@@oe@2-2-2013
21948001@unknown@formal@none@1@S@Times may be tough on Wall Street for some, but a few bosses are making as much as ever -- or more.@@@@1@22@@oe@2-2-2013
21948002@unknown@formal@none@1@S@At Bear Stearns Cos., for example, the 15 executive officers led by Chairman Alan "Ace" Greenberg got a pay increase to $35.9 million for the 14-month period ended June 30 from $22.9 million for the 12 months ended April 30, 1988.@@@@1@41@@oe@2-2-2013
21948003@unknown@formal@none@1@S@The figures don't include substantial dividends on holdings of Bear Stearns stock.@@@@1@12@@oe@2-2-2013
21948004@unknown@formal@none@1@S@Mr. Greenberg himself was paid $4.5 million, before an estimated $1.5 million in dividends, up from $2.4 million the year before.@@@@1@21@@oe@2-2-2013
21948005@unknown@formal@none@1@S@The increase is noted in the brokerage firm's latest proxy statement filed with the Securities and Exchange Commission.@@@@1@18@@oe@2-2-2013
21948006@unknown@formal@none@1@S@Because it operates on a fiscal year, Bear Stearns's yearly filings are available much earlier than those of other firms.@@@@1@20@@oe@2-2-2013
21948007@unknown@formal@none@1@S@The latest period includes 14 months instead of 12 because Bear Stearns changed to a fiscal year ending in June instead of April.@@@@1@23@@oe@2-2-2013
21948008@unknown@formal@none@1@S@Meanwhile, Bear Stearns's 650 stock and bond salesmen saw thinner paychecks over the past year, which the company says reflected lower commission revenue caused by a decline in investor activity in the markets.@@@@1@33@@oe@2-2-2013
21948009@unknown@formal@none@1@S@However, Bear Stearns on Monday reported improved earnings for its first quarter, ended Sept. 29, partly because of a 31% increase in commissions during the quarter.@@@@1@26@@oe@2-2-2013
21948010@unknown@formal@none@1@S@William J. Montgoris, chief financial officer, defended the lofty salaries at Bear Stearns.@@@@1@13@@oe@2-2-2013
21948011@unknown@formal@none@1@S@"All of us are on a base salary of $200,000 if the firm makes nothing -- and that's pretty low as far as Wall Street goes," Mr. Montgoris said.@@@@1@29@@oe@2-2-2013
21948012@unknown@formal@none@1@S@However, Bear Stearns has never had an unprofitable year since its founding 65 years ago.@@@@1@15@@oe@2-2-2013
21948013@unknown@formal@none@1@S@Four Bear Stearns executives besides the 62-year-old Mr. Greenberg were paid $3 million or more before dividends for the 14 months ended in June.@@@@1@24@@oe@2-2-2013
21948014@unknown@formal@none@1@S@According to the proxy statement, James E. Cayne, 55, Bear Stearns's president, made $3.9 million; an executive vice president, Michael L. Tarnopol, 53, made nearly $3.4 million; and two executive vice presidents, Vincent J. Mattone, 44, and William J. Michaelcheck, 42, made about $3.3 million each.@@@@1@46@@oe@2-2-2013
21948015@unknown@formal@none@1@S@Mr. Montgoris said the firm has a "straight mathematical formula" for determining compensation, based on the firm's earnings.@@@@1@18@@oe@2-2-2013
21948016@unknown@formal@none@1@S@"Just because a particular element of the firm is down," such as stockbrokerage, "doesn't mean the executive committee should be paid less," he said.@@@@1@24@@oe@2-2-2013
21949001@unknown@formal@none@1@S@Morgan Grenfell Group PLC said John Craven, group chief executive officer, is taking over the chairmanship of the merchant banking group from Sir Peter Carey, who is retiring.@@@@1@28@@oe@2-2-2013
21949002@unknown@formal@none@1@S@Mr. Carey will remain a member of the merchant bank's board.@@@@1@11@@oe@2-2-2013
21949003@unknown@formal@none@1@S@Mr. Craven is widely credited with refocusing Morgan Grenfell's energies on its core corporate finance, fund management and banking activities over the past year.@@@@1@24@@oe@2-2-2013
21949004@unknown@formal@none@1@S@Last year, Morgan Grenfell shut down its ailing U.K. securities operations.@@@@1@11@@oe@2-2-2013
21949005@unknown@formal@none@1@S@Mr. Craven said his move to the chairmanship means he will take a less active role in the day-to-day management of the group, but he added that the merchant bank's strategic focus remains unchanged.@@@@1@34@@oe@2-2-2013
21949006@unknown@formal@none@1@S@Mr. Craven joined Morgan Grenfell as group chief executive in May 1987, a few months after the resignations of former Chief Executive Christopher Reeves and other top officials because of the merchant bank's role in Guinness PLC's controversial takeover of Distiller's Co. in 1986.@@@@1@44@@oe@2-2-2013
21949007@unknown@formal@none@1@S@Morgan Grenfell had advised Guinness on the bid, which was surrounded by allegations that Guinness used artificial means to support the bid's value.@@@@1@23@@oe@2-2-2013
21949008@unknown@formal@none@1@S@Morgan Grenfell said Michael Dobson, currently group deputy chief executive, will assume the chief executive position.@@@@1@16@@oe@2-2-2013
21949009@unknown@formal@none@1@S@The merchant bank also announced that finance director David Eward is taking early retirement for personal reasons.@@@@1@17@@oe@2-2-2013
21949010@unknown@formal@none@1@S@His duties will be taken over by Anthony Richmond-Watson, who has been elected deputy chairman.@@@@1@15@@oe@2-2-2013
21949011@unknown@formal@none@1@S@News of Mr. Eward's retirement comes one day after Morgan said that Christopher Whittington resigned as chairman of Morgan's banking subsidiary to join a financial services firm.@@@@1@27@@oe@2-2-2013
21949012@unknown@formal@none@1@S@Mr. Craven said both Messrs. Eward and Whittington had planned to leave the bank earlier, but Mr. Craven had persuaded them to remain until the bank was in a healthy position.@@@@1@31@@oe@2-2-2013
21949013@unknown@formal@none@1@S@"If there's any coincidence about the departures it's that they are leaving at a time when the business is in reasonably good shape and going forward very well."@@@@1@28@@oe@2-2-2013
21949014@unknown@formal@none@1@S@Last month, Morgan Grenfell announced its pretax profit rose 49.6% to #32.8 million in the first half, boosted by a healthy growth in its domestic and international corporate finance business.@@@@1@30@@oe@2-2-2013
21950001@unknown@formal@none@1@S@The following were among yesterday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
21950002@unknown@formal@none@1@S@Lockheed Corp. -- $300 million of 9 3/8% notes due Oct. 15, 1999, priced at 99.90 to yield 9.39%.@@@@1@19@@oe@2-2-2013
21950003@unknown@formal@none@1@S@The issue was priced at a spread of 137.5 basis points above the Treasury's 10-year note.@@@@1@16@@oe@2-2-2013
21950004@unknown@formal@none@1@S@Rated single-A-3 by Moody's Investors Service Inc. and single-A by Standard & Poor's Corp., the issue will be sold through underwriters led by Goldman, Sachs & Co.@@@@1@27@@oe@2-2-2013
21950005@unknown@formal@none@1@S@California Health Facilities Financing Authority -- $144.35 million of revenue bonds for Kaiser Permanente, due 19931999, 2004, 2008, 2018 and 2019, tentatively priced by a PaineWebber Inc. group to yield from 6.25% in 1993 to 7.227% in 2018.@@@@1@38@@oe@2-2-2013
21950006@unknown@formal@none@1@S@Serial bonds were priced to yield to 6.80% in 1999.@@@@1@10@@oe@2-2-2013
21950007@unknown@formal@none@1@S@There are about $10 million of 7% bonds priced at 99 1/4 to yield 7.081% in 2004; about $15 million of 7% bonds priced at 98 1/2 to yield 7.145% in 2008; about $88.35 million of 7% bonds priced at 97 1/4 to yield 7.227% in 2018; and about $15 million of 6 3/4% bonds priced to yield 7.15% in 2019.@@@@1@61@@oe@2-2-2013
21950008@unknown@formal@none@1@S@The bonds are rated double-A-2 by Moody's and double-A by S&P, according to the lead underwriter.@@@@1@16@@oe@2-2-2013
21950009@unknown@formal@none@1@S@Pennsylvania Higher Education Facilities Authority -- approximately $117 million of revenue bonds for Hahnemann University, Series 1989, due 1990-2002, 2009 and 2019, priced late Monday by a Merrill Lynch Capital Markets group to yield from 6% in 1990 to 7.282% in 2019.@@@@1@42@@oe@2-2-2013
21950010@unknown@formal@none@1@S@Serial bonds were priced to yield from 6% in 1990 to 7.10% in 2002.@@@@1@14@@oe@2-2-2013
21950011@unknown@formal@none@1@S@There are about $25.6 million of 7.2% term bonds due 2009, priced to yield 7.25%, and about $66.8 million of 7.2% term bonds due 2019, priced at 99 to yield 7.282%.@@@@1@31@@oe@2-2-2013
21950012@unknown@formal@none@1@S@The bonds are insured and rated triple-A by Moody's and S&P.@@@@1@11@@oe@2-2-2013
21950013@unknown@formal@none@1@S@Connecticut -- $100.4 million of general obligation capital appreciation bonds, College Savings Plan, 1989 Series B, priced by a Prudential-Bache Capital Funding group.@@@@1@23@@oe@2-2-2013
21950014@unknown@formal@none@1@S@The zero-coupon bonds were priced to yield to maturity from 6.25% in 1994 to 6.90% in 2006, 2007 and 2009.@@@@1@20@@oe@2-2-2013
21950015@unknown@formal@none@1@S@The bonds have received a rating of double-A-1 from Moody's, and a double-A-plus rating is expected from S&P, the underwriter said.@@@@1@21@@oe@2-2-2013
21950016@unknown@formal@none@1@S@Oregon -- $100 million of general obligation veterans' tax notes, Series 1989, dated Nov. 1, 1989, and due Nov. 1, 1990, through a Chemical Securities Inc. group.@@@@1@27@@oe@2-2-2013
21950017@unknown@formal@none@1@S@The group is offering the notes priced as 6 3/4% securities to yield 6.25%.@@@@1@14@@oe@2-2-2013
21950018@unknown@formal@none@1@S@The notes are rated MIG-1 by Moody's and SP1-plus by S&P.@@@@1@11@@oe@2-2-2013
21950019@unknown@formal@none@1@S@University of Medicine and Dentistry of New Jersey -- $55.8 million of Series C bonds priced by a Prudential-Bache Capital Funding group.@@@@1@22@@oe@2-2-2013
21950020@unknown@formal@none@1@S@The bonds, rated single-A by Moody's and double-A by S&P, were priced to yield from 6.20% in 1992 to 7.26% in 2019.@@@@1@22@@oe@2-2-2013
21950021@unknown@formal@none@1@S@All serial bonds are being offered at par except those due 2002.@@@@1@12@@oe@2-2-2013
21950022@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. -- $500 million of Remic mortgage securities being offered in eight classes by Salomon Brothers Inc.@@@@1@21@@oe@2-2-2013
21950023@unknown@formal@none@1@S@The offering, Series 104, is backed by Freddie Mac 9% securities.@@@@1@11@@oe@2-2-2013
21950024@unknown@formal@none@1@S@The issue used at-market pricing.@@@@1@5@@oe@2-2-2013
21950025@unknown@formal@none@1@S@Federal National Mortgage Association -- $350 million of Remic mortgage securities being offered in 11 classes by Greenwich Capital Markets.@@@@1@20@@oe@2-2-2013
21950026@unknown@formal@none@1@S@The offering, Series 1989-82, is backed by Fannie Mae 9 1/2% securities and used at-market pricing.@@@@1@16@@oe@2-2-2013
21950027@unknown@formal@none@1@S@The issue brings Fannie Mae's 1989 Remic issuance to $30.2 billion and its total volume to $42.3 billion since the program began in April 1987.@@@@1@25@@oe@2-2-2013
21950028@unknown@formal@none@1@S@Hanshin Electric Railway Co. (Japan) -- $150 million of bonds due Nov. 2, 1993, with equity-purchase warrants, indicating a 4% coupon at par, via Nomura International Ltd.@@@@1@27@@oe@2-2-2013
21950029@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from Nov. 16, 1989, through Oct. 19, 1993, to buy company shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Oct. 24.@@@@1@37@@oe@2-2-2013
21950030@unknown@formal@none@1@S@Toyobo Co. (Japan) -- $150 million of bonds due Nov. 1, 1993, with equity-purchase warrants, indicating a 4% coupon at par, via Daiwa Europe Ltd.@@@@1@25@@oe@2-2-2013
21950031@unknown@formal@none@1@S@Each $5000 bond carries one warrant, exercisable from Nov. 15, 1989, to Oct. 18, 1993, to buy company shares at an expected premium of 2 1/2% to the closing share price when terms are fixed Oct. 23.@@@@1@37@@oe@2-2-2013
21950032@unknown@formal@none@1@S@Sammi Steel Co. (Korea) -- $50 million of bonds due Nov. 8, 1994, with equity-purchase warrants, indicating a 1 1/4% to 1 3/4% coupon at par, via Merrill Lynch International Ltd. and Dong Suh Securities Co.@@@@1@36@@oe@2-2-2013
21950033@unknown@formal@none@1@S@Each $5,000 bond carries one warrant, exercisable from May 8, 1991, through Oct. 8, 1994, to buy company shares at an expected premium of 75% to 85% to the closing share price when terms are fixed Oct. 18.@@@@1@38@@oe@2-2-2013
21950034@unknown@formal@none@1@S@Redland International Funding PLC (U.K. parent) -- 150 million Australian dollars of 15 3/8% bonds due Nov. 8, 1996, priced at 101 3/4 to yield 15.44% less full fees, via JP Morgan Securities Ltd.@@@@1@34@@oe@2-2-2013
21950035@unknown@formal@none@1@S@Guaranteed by Redland PLC.@@@@1@4@@oe@2-2-2013
21950036@unknown@formal@none@1@S@Fees 2.@@@@1@2@@oe@2-2-2013
21950037@unknown@formal@none@1@S@Tennessee Valley Authority -- A $4 billion, three-part offering of power bonds priced through an underwriting group led by First Boston Corp.@@@@1@22@@oe@2-2-2013
21950038@unknown@formal@none@1@S@The size of the issue was increased from an originally planned $3 billion.@@@@1@13@@oe@2-2-2013
21950039@unknown@formal@none@1@S@The first part, consisting of $2 billion of bonds due Oct. 1, 2019, with a five-year non-call provision, was priced as 8 3/4% securities at 96.808 to yield 9.06%.@@@@1@29@@oe@2-2-2013
21950040@unknown@formal@none@1@S@The 30-year issue was priced at a spread of 105 basis points above the Treasury's 30-year bellwether bond.@@@@1@18@@oe@2-2-2013
21950041@unknown@formal@none@1@S@The second part, consisting of $1 billion of noncallable bonds due Oct. 1, 1999, was priced as 8 3/8% securities at 99.691 to yield 8.42%.@@@@1@25@@oe@2-2-2013
21950042@unknown@formal@none@1@S@The 10-year issue was priced at a spread of 43 basis points above the Treasury's 10-year note.@@@@1@17@@oe@2-2-2013
21950043@unknown@formal@none@1@S@The third part, consisting of $1 billion of noncallable bonds due Oct. 1, 1994, was priced as 8 1/4% securities at 99.672 to yield 8.33%.@@@@1@25@@oe@2-2-2013
21950044@unknown@formal@none@1@S@The five-year issue was priced at a spread of 43 basis points above the Treasury's comparable note.@@@@1@17@@oe@2-2-2013
21950045@unknown@formal@none@1@S@The issue is rated triple-A by Moody's and triple-A by S&P.@@@@1@11@@oe@2-2-2013
21951001@unknown@formal@none@1@S@Par Pharmaceutical Inc. said it named its interim president and chief executive officer, Kenneth I. Sawyer, to those posts permanently, and elected him to the board.@@@@1@26@@oe@2-2-2013
21951002@unknown@formal@none@1@S@Par also said it was advised by the U.S. attorney for Maryland that it is one of a number of companies being investigated by a federal grand jury for alleged violations of the federal Food, Drug and Cosmetic Act.@@@@1@39@@oe@2-2-2013
21951003@unknown@formal@none@1@S@Par, a generic-drug maker that has been plagued by management problems, was already the subject of a federal criminal inquiry into the drug-approval process and a Food and Drug Administration investigation.@@@@1@31@@oe@2-2-2013
21951004@unknown@formal@none@1@S@A Par spokesman said he understood the criminal investigation in Maryland relates to matters Par disclosed in July, when Par said it filed false drug information with the FDA.@@@@1@29@@oe@2-2-2013
21951005@unknown@formal@none@1@S@At the time, the company said it was recalling one of its drugs and had stopped selling two others.@@@@1@19@@oe@2-2-2013
21951006@unknown@formal@none@1@S@The spokesman said he also understood that the inquiry related to the existence of an "off-the-record" production book.@@@@1@18@@oe@2-2-2013
21951007@unknown@formal@none@1@S@The book noted changes made at the manufacturing level that weren't disclosed to the FDA.@@@@1@15@@oe@2-2-2013
21951008@unknown@formal@none@1@S@Par said it is cooperating in the investigation.@@@@1@8@@oe@2-2-2013
21951009@unknown@formal@none@1@S@Also yesterday, Ashok Patel, a former Par official who pleaded guilty to providing an FDA employee an illegal gratuity of $3,000, was sentenced by a federal judge in Baltimore to one year of community service and a $150,000 fine.@@@@1@39@@oe@2-2-2013
21951010@unknown@formal@none@1@S@Mr. Patel also was placed on three years' probation.@@@@1@9@@oe@2-2-2013
21951011@unknown@formal@none@1@S@Mr. Patel resigned as senior vice president of Par in April.@@@@1@11@@oe@2-2-2013
21951012@unknown@formal@none@1@S@In July, Par and a 60%-owned unit agreed to plead guilty in that inquiry, as did another former Par official.@@@@1@20@@oe@2-2-2013
21951013@unknown@formal@none@1@S@Mr. Sawyer began running the company on an interim basis in late September.@@@@1@13@@oe@2-2-2013
21951014@unknown@formal@none@1@S@Par said it selected him for the posts of president and chief executive on a permanent basis because of his experience in the industry and his performance at Par.@@@@1@29@@oe@2-2-2013
21951015@unknown@formal@none@1@S@Perry Levine, chairman, said Mr. Sawyer had "taken significant steps" to restore the company's credibility and sense of professionalism and integrity.@@@@1@21@@oe@2-2-2013
21952001@unknown@formal@none@1@S@Just after midnight Monday, federal spending started to drop by $16 billion.@@@@1@12@@oe@2-2-2013
21952002@unknown@formal@none@1@S@What do you say we all close down the poker game, go home and bank the $16 billion?@@@@1@18@@oe@2-2-2013
21952003@unknown@formal@none@1@S@That's essentially what budget director Richard Darman is suggesting, and we think he deserves as much support as he can get.@@@@1@21@@oe@2-2-2013
21952004@unknown@formal@none@1@S@If human beings can't cut federal spending honestly -- and they can't -- let the computers do it.@@@@1@18@@oe@2-2-2013
21952005@unknown@formal@none@1@S@Congress, with a measure of White House complicity, has been manipulating the spending accounts for years under the cover of omnibus appropriations bills.@@@@1@23@@oe@2-2-2013
21952006@unknown@formal@none@1@S@(Indeed without earlier manipulations, the current sequester of $16 billion would have been even larger.)@@@@1@15@@oe@2-2-2013
21952007@unknown@formal@none@1@S@We suspect voters are fed up with the finagling.@@@@1@9@@oe@2-2-2013
21952008@unknown@formal@none@1@S@Consider, for instance, that even yesterday's widely publicized sequester is likely to be traduced if business as usual is allowed to prevail.@@@@1@22@@oe@2-2-2013
21952009@unknown@formal@none@1@S@Under the law, Gramm-Rudman's across-the-board-cuts in federal programs are supposed to be permanent.@@@@1@13@@oe@2-2-2013
21952010@unknown@formal@none@1@S@Social Security and spending for poor people are exempted.@@@@1@9@@oe@2-2-2013
21952011@unknown@formal@none@1@S@However, the Associated Press's account of the Monday sequester order signed by President Bush neatly captured the contempt Congress shows toward the notion of a legally binding commitment:@@@@1@28@@oe@2-2-2013
21952012@unknown@formal@none@1@S@"Lawmakers have been saying for weeks that they plan to roll back the cuts as soon as they agree to a compromise on a deficit-cutting bill."@@@@1@26@@oe@2-2-2013
21952013@unknown@formal@none@1@S@Mr. Darman's inclination to save the sequester was backed up yesterday by White House Press Secretary Marlin Fitzwater:@@@@1@18@@oe@2-2-2013
21952014@unknown@formal@none@1@S@"There is some feeling here that the cuts are the way to go.@@@@1@13@@oe@2-2-2013
21952015@unknown@formal@none@1@S@It will reduce spending in a very effective fashion."@@@@1@9@@oe@2-2-2013
21952016@unknown@formal@none@1@S@This attitude is being waved away by sophisticates around Washington as little more than tough talk.@@@@1@16@@oe@2-2-2013
21952017@unknown@formal@none@1@S@It looks to us like a golden opportunity for George Bush to chop off at the knees all this talk about a timid, unserious presidency.@@@@1@25@@oe@2-2-2013
21952018@unknown@formal@none@1@S@Mr. Bush would be acting in the public interest if he let the Washington elites who manipulate these budgets -- the bureaucrats, the lobbyists, the congressional staffers -- live for just one year on a restricted diet.@@@@1@37@@oe@2-2-2013
21952019@unknown@formal@none@1@S@Ask Tommy Lasorda; thin is in.@@@@1@6@@oe@2-2-2013
21952020@unknown@formal@none@1@S@Senator Phil Gramm pointed out Monday that in the 20 years before Gramm-Rudman was enacted in 1985, federal spending grew by about 11% a year; since the law, it's grown at under 5% annually.@@@@1@34@@oe@2-2-2013
21952021@unknown@formal@none@1@S@Another major factor in this positive trend was Ronald Reagan's decision early in his presidency to fight the budget war on the expenditure side rather than raising taxes.@@@@1@28@@oe@2-2-2013
21952022@unknown@formal@none@1@S@George Bush's continued support of the tax dam sustains this strategy of pressuring Congress to make choices among competing priorities, rather than just saying yes to all the grateful special-interest constituencies that fill the PAC trough.@@@@1@36@@oe@2-2-2013
21952023@unknown@formal@none@1@S@If Washington's elites ever succeed in bursting the tax dam, Americans will be engulfed in a red sea of new spending programs, such as federalized child care.@@@@1@27@@oe@2-2-2013
21952024@unknown@formal@none@1@S@Child care was one of the many "extraneous" bills pulled out of the Senate's reconciliation bill last Friday.@@@@1@18@@oe@2-2-2013
21952025@unknown@formal@none@1@S@Others were the capital-gains cut, Section 89 repeal, the disabled workers bill, and the unprecedented reconsideration of the catastrophic health act.@@@@1@21@@oe@2-2-2013
21952026@unknown@formal@none@1@S@All this stuff still is in the House's 1,878-page reconciliation bill, and many Members say they're reluctant to pull out cherished bills, just to see them die.@@@@1@27@@oe@2-2-2013
21952027@unknown@formal@none@1@S@Republicans especially want a guarantee from the House leadership that they'll get an up-or-down vote on the bills.@@@@1@18@@oe@2-2-2013
21952028@unknown@formal@none@1@S@House Speaker Foley ought to deliver that promise.@@@@1@8@@oe@2-2-2013
21952029@unknown@formal@none@1@S@This is the way government is supposed to work, with politicians taking responsibility for votes that their constituents can identify, instead of concealing them in the great reconciliation garbage truck.@@@@1@30@@oe@2-2-2013
21952030@unknown@formal@none@1@S@We have as much nostalgia as anyone for those leafy, breezy days in Washington when honorable men and women dickered over budgets and even log-rolled a bit to see that the bridges got build, roads paved, soldiers paid or that the desperately poor were cared for.@@@@1@46@@oe@2-2-2013
21952031@unknown@formal@none@1@S@Those days are gone.@@@@1@4@@oe@2-2-2013
21952032@unknown@formal@none@1@S@Nor do we see any reason to believe that a metropolitan Washington that has gotten fat and rich and lazy in the shadow of the federal colossus will change much on its own initiative.@@@@1@34@@oe@2-2-2013
21952033@unknown@formal@none@1@S@Save the sequester, and let Washington scream.@@@@1@7@@oe@2-2-2013
21953001@unknown@formal@none@1@S@The New York Stock Exchange said a seat sold for $436,000, down $39,000 from the previous sale Oct. 4.@@@@1@19@@oe@2-2-2013
21953002@unknown@formal@none@1@S@Seats are currently quoted at $425,000 bid and $475,000 offered.@@@@1@10@@oe@2-2-2013
21953003@unknown@formal@none@1@S@The $475,000 sale price earlier this month was the lowest in nearly three years.@@@@1@14@@oe@2-2-2013
21953004@unknown@formal@none@1@S@Exchange seats hit a peak of $1,150,000 in September 1987.@@@@1@10@@oe@2-2-2013
21954001@unknown@formal@none@1@S@The Canadian government auctioned 750 million Canadian dollars (US$637.5 million) of 9.25% bonds due Dec. 15, 1994.@@@@1@17@@oe@2-2-2013
21954002@unknown@formal@none@1@S@The average accepted yield bid was 9.617% for a price equivalent of 98.523.@@@@1@13@@oe@2-2-2013
21954003@unknown@formal@none@1@S@Proceeds of the sale will be used to redeem C$675 million of government bonds maturing Nov. 1 and for general government purposes.@@@@1@22@@oe@2-2-2013
21955001@unknown@formal@none@1@S@Northern Trust Corp. said its board adopted a shareholder rights plan aimed at deterring unwanted takeover bids, but said it's not aware of any plan to acquire the banking concern.@@@@1@30@@oe@2-2-2013
21955002@unknown@formal@none@1@S@Under Northern Trust's plan, shareholders were issued rights that, in the event of certain attempted takeovers, allow holders to buy shares in the company at half price.@@@@1@27@@oe@2-2-2013
21956001@unknown@formal@none@1@S@National Patent Development Corp. said it plans to purchase as many as 200,000 common shares of its 81%-controlled Interferon Sciences Inc. unit in periodic, open-market purchases.@@@@1@26@@oe@2-2-2013
21956002@unknown@formal@none@1@S@The 200,000 shares are about 23% of Interferon's common shares outstanding, excluding National Patent's stake.@@@@1@15@@oe@2-2-2013
21956003@unknown@formal@none@1@S@Noting the recent Food and Drug Administration approval of Interferon's genital warts treatment, National Patent said it believes Interferon's stock is undervalued.@@@@1@22@@oe@2-2-2013
21957001@unknown@formal@none@1@S@Japanese investors, reassured by Monday's strong rally on Wall Street, erased most of that day's losses on the Tokyo Stock Exchange.@@@@1@21@@oe@2-2-2013
21957002@unknown@formal@none@1@S@But analysts said the rebound didn't remove the cautious mood from the market.@@@@1@13@@oe@2-2-2013
21957003@unknown@formal@none@1@S@In London, stocks closed lower in volatile trading as an opening rally was obliterated by worse-than-expected U.S. trade figures.@@@@1@19@@oe@2-2-2013
21957004@unknown@formal@none@1@S@Paris shares had a similar reaction, but most other European bourses posted gains, as did all major Asian and Pacific stock markets.@@@@1@22@@oe@2-2-2013
21957005@unknown@formal@none@1@S@Tokyo's Nikkei Index of 225 stocks jumped 527.39 points to close at 34996.08.@@@@1@13@@oe@2-2-2013
21957006@unknown@formal@none@1@S@The rise came a day after the year's biggest drop on Monday, when the Nikkei fell 647.33, or 1.8%, in response to Friday's 6.9% plunge on Wall Street.@@@@1@28@@oe@2-2-2013
21957007@unknown@formal@none@1@S@In early trading Wednesday in Tokyo, the Nikkei index rose 19.30 points to 35015.38.@@@@1@14@@oe@2-2-2013
21957008@unknown@formal@none@1@S@On Tuesday, the broader-based Tokyo Stock Price Index of issues listed in the first section, which fell 45.66 Monday, rose 41.76, or 1.61%, to 2642.64.@@@@1@25@@oe@2-2-2013
21957009@unknown@formal@none@1@S@Trading was relatively thin at an estimated 650 million shares, though brisker than Monday's 526 million.@@@@1@16@@oe@2-2-2013
21957010@unknown@formal@none@1@S@Advancing issues outnumbered decliners 821-201, with 103 unchanged.@@@@1@8@@oe@2-2-2013
21957011@unknown@formal@none@1@S@"We're back to square one," said Simon Smithson, an analyst in Japan for Kleinwort Benson International Inc.@@@@1@17@@oe@2-2-2013
21957012@unknown@formal@none@1@S@Japanese domestic institutions, including trust banks and investment management firms, that had been on the sidelines during Monday's fall were back in the market, analysts said.@@@@1@26@@oe@2-2-2013
21957013@unknown@formal@none@1@S@Foreign investors reportedly started off selling but later joined in the buying.@@@@1@12@@oe@2-2-2013
21957014@unknown@formal@none@1@S@The Tokyo rally seemed to confirm the view, frequently expressed in Japan in the past few days, that the drop in New York was a local problem related to merger and acquisition activity in the U.S.@@@@1@36@@oe@2-2-2013
21957015@unknown@formal@none@1@S@"This time we don't really have to worry about Tokyo," said an official at Daiwa Securities Co.@@@@1@17@@oe@2-2-2013
21957016@unknown@formal@none@1@S@"Nothing has changed fundamentally in the Tokyo market."@@@@1@8@@oe@2-2-2013
21957017@unknown@formal@none@1@S@But even though Tokyo appears unharmed by recent market volatility, analysts and traders say there are still a few concerns on the horizon.@@@@1@23@@oe@2-2-2013
21957018@unknown@formal@none@1@S@In particular, Japanese investors will be keeping a wary eye on Wall Street to see whether Monday's 88.12-point rally holds up as fresh U.S. economic data are released.@@@@1@28@@oe@2-2-2013
21957019@unknown@formal@none@1@S@"People are placing small bets.@@@@1@5@@oe@2-2-2013
21957020@unknown@formal@none@1@S@There's no huge buying," said Stephen Hill, head of equity sales at Jardine Fleming Securities Ltd. in Tokyo.@@@@1@18@@oe@2-2-2013
21957021@unknown@formal@none@1@S@"Really brave views right now would be foolhardy."@@@@1@8@@oe@2-2-2013
21957022@unknown@formal@none@1@S@Yesterday's buyers favored real estate, construction and other large-capitalization issues, reflecting the fact that many Tokyo investors now feel safer with domestically oriented stocks, analysts said.@@@@1@26@@oe@2-2-2013
21957023@unknown@formal@none@1@S@They also are concerned about the persistent strength of the dollar against the yen, as a weaker yen leads to higher import prices in Japan and adds to domestic inflationary pressures.@@@@1@31@@oe@2-2-2013
21957024@unknown@formal@none@1@S@Currency concerns also weigh heavily on interest rate-sensitive stocks such as banking and other financial issues because of fears that Japanese interest rates might have to rise to keep the dollar in check.@@@@1@33@@oe@2-2-2013
21957025@unknown@formal@none@1@S@Among steel shares, NKK rose 19 to 705 yen ($4.97) a share, and Nippon Steel gained 17 to 735.@@@@1@19@@oe@2-2-2013
21957026@unknown@formal@none@1@S@Construction shares that gained included Shimizu, which rose 130 to 2,080.@@@@1@11@@oe@2-2-2013
21957027@unknown@formal@none@1@S@In the real estate sector, Mitsui Real Estate Development was up 100 at 2,760, and Mitsubishi Estate gained 80 to 2,360.@@@@1@21@@oe@2-2-2013
21957028@unknown@formal@none@1@S@London's Financial Times-Stock Exchange 100-share index fell 27.9 points to 2135.5.@@@@1@11@@oe@2-2-2013
21957029@unknown@formal@none@1@S@It was down more than 40 points a half-hour before the close, marking a 61.5-point turnaround from its high, reached in the first 15 minutes of trading.@@@@1@27@@oe@2-2-2013
21957030@unknown@formal@none@1@S@The narrower Financial Times 30-share index fell 29.6 to 1730.7.@@@@1@10@@oe@2-2-2013
21957031@unknown@formal@none@1@S@Volume was an active 643.3 million shares, about double the recent levels but down from 959.3 million the previous day, which U.K. traders have dubbed "Manic Monday."@@@@1@27@@oe@2-2-2013
21957032@unknown@formal@none@1@S@Prices opened strongly on the basis of Monday's Wall Street rally and yesterday's gains in Tokyo.@@@@1@16@@oe@2-2-2013
21957033@unknown@formal@none@1@S@But the advance faltered as index-options traders and investors jittery about the U.K. economic outlook took over.@@@@1@17@@oe@2-2-2013
21957034@unknown@formal@none@1@S@The unexpectedly wide U.S. August trade deficit of $10.77 billion hit an already jittery U.K. market in midafternoon.@@@@1@18@@oe@2-2-2013
21957035@unknown@formal@none@1@S@Michael Hicks, who manages sales and trading for brokerage concern Societe Generale Strauss Turnbull, said: "It's a nervous market.@@@@1@19@@oe@2-2-2013
21957036@unknown@formal@none@1@S@It was all over the place.@@@@1@6@@oe@2-2-2013
21957037@unknown@formal@none@1@S@If you bought, you wish you hadn't, and if you sold, you wish you hadn't."@@@@1@15@@oe@2-2-2013
21957038@unknown@formal@none@1@S@He said the current market "is all about sentiment, and the sentiment in London is 90% anxiety and worry."@@@@1@19@@oe@2-2-2013
21957039@unknown@formal@none@1@S@Britain's economic fundamentals, he said, "don't look very bright."@@@@1@9@@oe@2-2-2013
21957040@unknown@formal@none@1@S@Dealers said London showed signs of calming in midafternoon after Wall Street avoided sharp losses despite the trade report, but a wave of futures-related selling later in the session sent buyers back to the sidelines.@@@@1@35@@oe@2-2-2013
21957041@unknown@formal@none@1@S@Still, some sectors found buying interest after being actively sold in recent weeks.@@@@1@13@@oe@2-2-2013
21957042@unknown@formal@none@1@S@Merchant banks were stronger across the board.@@@@1@7@@oe@2-2-2013
21957043@unknown@formal@none@1@S@Morgan Grenfell, which has been mentioned in takeover rumors, rose 20 to 392 pence ($6.18) a share.@@@@1@17@@oe@2-2-2013
21957044@unknown@formal@none@1@S@S.G. Warburg, a rumored target of some European banking concerns, finished 22 higher at 400.@@@@1@15@@oe@2-2-2013
21957045@unknown@formal@none@1@S@Hambros rose 5 to 204, and Schroders rose 25 to #12.75.@@@@1@11@@oe@2-2-2013
21957046@unknown@formal@none@1@S@On the corporate front, Ford Motor announced that it raised its stake in U.K. luxury car maker Jaguar to 10.4% from 5%.@@@@1@22@@oe@2-2-2013
21957047@unknown@formal@none@1@S@Jaguar shares jumped 23 before easing to close at 654, up 6.@@@@1@12@@oe@2-2-2013
21957048@unknown@formal@none@1@S@Amstrad, a British computer hardware and communications equipment maker, eased 4 to 47.@@@@1@13@@oe@2-2-2013
21957049@unknown@formal@none@1@S@It announced a 52% plunge in pretax profit for the latest year.@@@@1@12@@oe@2-2-2013
21957050@unknown@formal@none@1@S@Brewery stocks were firm to higher on talk of early bargain-hunting, but most ended below their peaks.@@@@1@17@@oe@2-2-2013
21957051@unknown@formal@none@1@S@Bass ended up 3 higher at 966, Guinness closed at 589, down 7, and Scottish & Newcastle dropped 11 to 359, but Whitbread Class A shares rose 17 to 363.@@@@1@30@@oe@2-2-2013
21957052@unknown@formal@none@1@S@Dealers said there was late talk of a Whitbread sale of brewing operations to Scottish & Newcastle.@@@@1@17@@oe@2-2-2013
21957053@unknown@formal@none@1@S@The most active shares were major blue-chips, particularly oils and utilities such as British Gas and British Telecommunications.@@@@1@18@@oe@2-2-2013
21957054@unknown@formal@none@1@S@Traders attributed the action in them largely to defensive positioning in a volatile market.@@@@1@14@@oe@2-2-2013
21957055@unknown@formal@none@1@S@British Gas finished at 197, down 2, on 13 million shares, British Petroleum fell 8 to 291 on 9.4 million shares, and British Telecom was 4 lower at 261 on turnover of 10 million shares.@@@@1@35@@oe@2-2-2013
21957056@unknown@formal@none@1@S@Cable & Wireless fell 20 to 478.@@@@1@7@@oe@2-2-2013
21957057@unknown@formal@none@1@S@Also in active trading, British Steel fell 1 to 124 as 20 million shares changed hands.@@@@1@16@@oe@2-2-2013
21957058@unknown@formal@none@1@S@Racal Electric, which traded 11 million shares, declined 12 to 218.@@@@1@11@@oe@2-2-2013
21957059@unknown@formal@none@1@S@In other European markets, share prices closed sharply higher in Frankfurt and Zurich and posted moderate rises in Stockholm, Amsterdam and Milan.@@@@1@22@@oe@2-2-2013
21957060@unknown@formal@none@1@S@Paris closed lower, and most Brussels shares were unable to trade for a second consecutive day because of technical problems.@@@@1@20@@oe@2-2-2013
21957061@unknown@formal@none@1@S@South African gold stocks closed higher.@@@@1@6@@oe@2-2-2013
21957062@unknown@formal@none@1@S@Elsewhere, share prices rebounded in Hong Kong, Sydney, Singapore, Wellington, Taipei, Manila and Seoul.@@@@1@14@@oe@2-2-2013
21957063@unknown@formal@none@1@S@In Hong Kong, Sydney and Singapore -- the largest of those exchanges -- stocks recovered one-third to one-half of the ground they lost in Monday's plunge, with major market indexes posting gains of 3.6% to 4.4%.@@@@1@36@@oe@2-2-2013
21957064@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
21957065@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
21957066@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
21958001@unknown@formal@none@1@S@Zurn Industries Inc. said it received approval to proceed on four separate projects with a total contract value of $59 million.@@@@1@21@@oe@2-2-2013
21958002@unknown@formal@none@1@S@The projects include construction of a 29,400 kilowatt waste-to-energy plant for Ada Cogeneration L.P., Ada, Mich.; a steam generating plant at Ontario, Calif., that Zurn will own and operate, and two waste-water control projects in Orange County, Calif.@@@@1@38@@oe@2-2-2013
21959001@unknown@formal@none@1@S@AVX Corp. and Unitrode Corp. said they completed the previously reported sale of Unitrode's San Diego-based Passive Components division to AVX.@@@@1@21@@oe@2-2-2013
21959002@unknown@formal@none@1@S@AVX, a New York-based maker of passive electronic products, paid $11 million in cash to Unitrode, a Lexington-based maker of semiconductor products.@@@@1@22@@oe@2-2-2013
21959003@unknown@formal@none@1@S@Passive Components makes capacitors and filters used to protect electronics.@@@@1@10@@oe@2-2-2013
21960001@unknown@formal@none@1@S@Consolidated Papers Inc. said it plans to spend $495 million on new paper-manufacturing equipment and facilities.@@@@1@16@@oe@2-2-2013
21960002@unknown@formal@none@1@S@The producer of paper used in magazines and by commercial printers said spending on the expansion is planned to begin in the first quarter of 1990.@@@@1@26@@oe@2-2-2013
21960003@unknown@formal@none@1@S@The expansion is subject to approval by federal and Wisconsin environmental regulators.@@@@1@12@@oe@2-2-2013
21961001@unknown@formal@none@1@S@THE STOCK of Applied Power Inc., which split 2-for-1 in May, has risen since August 1988.@@@@1@16@@oe@2-2-2013
21961002@unknown@formal@none@1@S@In yesterday's edition, it was incorrectly stated that the company's share price has softened since August 1988.@@@@1@17@@oe@2-2-2013
21962001@unknown@formal@none@1@S@The stock market's dizzying gyrations during the past few days have made a lot of individual investors wish they could buy some sort of insurance.@@@@1@25@@oe@2-2-2013
21962002@unknown@formal@none@1@S@After all, they won't soon forget the stock bargains that became available after the October 1987 crash.@@@@1@17@@oe@2-2-2013
21962003@unknown@formal@none@1@S@But while they want to be on the alert for similar buying opportunities now, they're afraid of being hammered by another terrifying plunge.@@@@1@23@@oe@2-2-2013
21962004@unknown@formal@none@1@S@The solution, at least for some investors, may be a hedging technique that's well known to players in the stock-options market.@@@@1@21@@oe@2-2-2013
21962005@unknown@formal@none@1@S@Called a "married put," the technique is carried out by purchasing a stock and simultaneously buying a put option on that stock.@@@@1@22@@oe@2-2-2013
21962006@unknown@formal@none@1@S@It's like "fire insurance," says Harrison Roth, the senior options strategist at Cowen & Co.@@@@1@15@@oe@2-2-2013
21962007@unknown@formal@none@1@S@Because a put option gives its owner the right, but not the obligation, to sell a fixed number of shares of the stock at a stated price on or before the option's expiration date, the investor is protected against a sudden drop in the stock's price.@@@@1@46@@oe@2-2-2013
21962008@unknown@formal@none@1@S@But most investment advisers don't recommend using married puts all the time.@@@@1@12@@oe@2-2-2013
21962009@unknown@formal@none@1@S@That's because the cost of buying put options eats into an investor's profit when stock prices rise.@@@@1@17@@oe@2-2-2013
21962010@unknown@formal@none@1@S@"This is the type of fire insurance you only buy when the nearby woods are on fire," says Mr. Roth.@@@@1@20@@oe@2-2-2013
21962011@unknown@formal@none@1@S@"You always want your house insured, but you don't always feel the need for your investments to be insured."@@@@1@19@@oe@2-2-2013
21962012@unknown@formal@none@1@S@In addition to hedging new stock purchases, the married-put technique can be used to protect stocks that an investor already owns.@@@@1@21@@oe@2-2-2013
21962013@unknown@formal@none@1@S@In either case, the investor faces three possible outcomes:@@@@1@9@@oe@2-2-2013
21962014@unknown@formal@none@1@S@-- If the stock goes up in price between now and the put's expiration date, the put will probably expire worthless.@@@@1@21@@oe@2-2-2013
21962015@unknown@formal@none@1@S@The investor will be out the cost of the put, which is called the "premium," and this loss will reduce the stock-market profit.@@@@1@23@@oe@2-2-2013
21962016@unknown@formal@none@1@S@-- If the stock stays at the same price between now and the put's expiration date, the investor's loss will be limited to the cost of the put, less any amount realized from a closing sale of the put.@@@@1@39@@oe@2-2-2013
21962017@unknown@formal@none@1@S@The worst-case scenario would be if the put expires worthless.@@@@1@10@@oe@2-2-2013
21962018@unknown@formal@none@1@S@-- If the price of the stock declines, the put will increase in value.@@@@1@14@@oe@2-2-2013
21962019@unknown@formal@none@1@S@Once the stock price is less than the exercise price, or "strike price," of the put, the gain will match the loss on the stock dollar for dollar.@@@@1@28@@oe@2-2-2013
21962020@unknown@formal@none@1@S@The put establishes a minimum selling price for the stock during its life.@@@@1@13@@oe@2-2-2013
21962021@unknown@formal@none@1@S@When a stock falls below the put's strike price, the investor simply sells the stock at a loss and simultaneously sells the put at a profit.@@@@1@26@@oe@2-2-2013
21962022@unknown@formal@none@1@S@Or, the investor can exercise the put, by tendering the stock to his or her broker in return for payment from another investor who has sold a put on the same stock.@@@@1@32@@oe@2-2-2013
21962023@unknown@formal@none@1@S@Brokers handle such transactions through the Options Clearing Corp., which guarantees all option trades.@@@@1@14@@oe@2-2-2013
21962024@unknown@formal@none@1@S@The accompanying table shows how this strategy would work for three stocks.@@@@1@12@@oe@2-2-2013
21962025@unknown@formal@none@1@S@Though not reflected in the table, an investor should know that the cost of the option insurance can be partially offset by any dividends that the stock pays.@@@@1@28@@oe@2-2-2013
21962026@unknown@formal@none@1@S@For example, Tenneco Inc. pays a quarterly dividend of 76 cents, which would be received before the February option expires and, thus, reduce the cost of using the technique by that amount.@@@@1@32@@oe@2-2-2013
21962027@unknown@formal@none@1@S@In this case, the investor's risk wouldn't exceed 3.6% of the total investment.@@@@1@13@@oe@2-2-2013
21962028@unknown@formal@none@1@S@To simplify the calculations, commissions on the option and underlying stock aren't included in the table.@@@@1@16@@oe@2-2-2013
21962029@unknown@formal@none@1@S@There are more than 650 stocks on which options may be bought and sold, including some over-the-counter stocks.@@@@1@18@@oe@2-2-2013
21962030@unknown@formal@none@1@S@But some investors might prefer a simpler strategy then hedging their individual holdings.@@@@1@13@@oe@2-2-2013
21962031@unknown@formal@none@1@S@They can do this by purchasing "index puts," which are simply put options on indexes that match broad baskets of stocks.@@@@1@21@@oe@2-2-2013
21962032@unknown@formal@none@1@S@For instance, the most popular index option is the S&P 100 option, commonly called the OEX.@@@@1@16@@oe@2-2-2013
21962033@unknown@formal@none@1@S@It is based on the stocks that make up Standard & Poor's 100-stock index.@@@@1@14@@oe@2-2-2013
21962034@unknown@formal@none@1@S@Unlike options on individual issues, index options are settled only in cash, and no stock is ever tendered.@@@@1@18@@oe@2-2-2013
21962035@unknown@formal@none@1@S@But while index options are convenient, they have several disadvantages.@@@@1@10@@oe@2-2-2013
21962036@unknown@formal@none@1@S@For one thing, an investor's portfolio might not closely match the S&P 100.@@@@1@13@@oe@2-2-2013
21962037@unknown@formal@none@1@S@As a result, the OEX insurance may or may not fully protect an investor's holdings in the event of a market decline.@@@@1@22@@oe@2-2-2013
21962038@unknown@formal@none@1@S@In addition, OEX options were suspended from trading last Friday afternoon, after the stock-market sell-off got under way and trading in the S&P-500 futures contract was halted.@@@@1@27@@oe@2-2-2013
21962039@unknown@formal@none@1@S@So an investor who wanted to realize a profit on OEX puts after the trading suspension would have been out of luck.@@@@1@22@@oe@2-2-2013
21962040@unknown@formal@none@1@S@On the other hand, only a handful of individual issues were suspended from trading on Friday.@@@@1@16@@oe@2-2-2013
21962041@unknown@formal@none@1@S@Normally, once the underlying investment is suspended from trading, the options on those investments also don't trade.@@@@1@17@@oe@2-2-2013
21962042@unknown@formal@none@1@S@Ultimately, whether the insurance provided by purchasing puts is worthwhile depends on the cost of the options.@@@@1@17@@oe@2-2-2013
21962043@unknown@formal@none@1@S@That cost rises in times of high market volatility.@@@@1@9@@oe@2-2-2013
21962044@unknown@formal@none@1@S@But it still might be cheaper than taking a major hit.@@@@1@11@@oe@2-2-2013
21962045@unknown@formal@none@1@S@The protection from using married puts is clearly superior to that afforded by another options strategy some investors consider using during troubled times: selling call options on stocks the investor owns.@@@@1@31@@oe@2-2-2013
21962046@unknown@formal@none@1@S@A call option is similar to a put, except that it gives its owner the right to buy shares at a stated price until expiration.@@@@1@25@@oe@2-2-2013
21962047@unknown@formal@none@1@S@Selling a call option gives an investor a small buffer against a stock-market decline.@@@@1@14@@oe@2-2-2013
21962048@unknown@formal@none@1@S@That's because it reduces the cost of the stock by the amount of premium received from the sale of the call.@@@@1@21@@oe@2-2-2013
21962049@unknown@formal@none@1@S@But if the price of the stock rises above the strike price of the option, the stock is almost certain to be called away.@@@@1@24@@oe@2-2-2013
21962050@unknown@formal@none@1@S@And in that case, the investor misses out on any major upside gain.@@@@1@13@@oe@2-2-2013
21962051@unknown@formal@none@1@S@These calculations exclude the effect of commissions paid and dividends received from the stock.@@@@1@14@@oe@2-2-2013
21962052@unknown@formal@none@1@S@All prices are as of Monday's close.@@@@1@7@@oe@2-2-2013
21963001@unknown@formal@none@1@S@Hopes for quick enactment of pending deficit-reduction legislation faded as efforts to streamline the House version in advance of a House-Senate conference broke down.@@@@1@24@@oe@2-2-2013
21963002@unknown@formal@none@1@S@House leaders had hoped to follow the Senate's lead by getting an agreement from House committee chairmen under which they would drop items that wouldn't reduce the fiscal 1990 budget deficit from the House-passed bill before the negotiations with the Senate began.@@@@1@42@@oe@2-2-2013
21963003@unknown@formal@none@1@S@But the effort became snagged on the question of what would become of other issues, ranging from cutting the capital-gains tax to child care to repeal of catastrophic-illness insurance.@@@@1@29@@oe@2-2-2013
21963004@unknown@formal@none@1@S@"Many members feel there are important features of the House bill that should be enacted," Speaker Thomas Foley (D., Wash.) said.@@@@1@21@@oe@2-2-2013
21963005@unknown@formal@none@1@S@"If there is any support for reducing the bill, it is conditioned on their desire to see them passed in another form."@@@@1@22@@oe@2-2-2013
21963006@unknown@formal@none@1@S@Now those items will be discussed in a House-Senate conference, which could begin as soon as today, with the expectation that they could either be resolved there or placed into other legislation.@@@@1@32@@oe@2-2-2013
21963007@unknown@formal@none@1@S@"You've got to give these chairmen the opportunity to see if they can work things out," said House Budget Committee Chairman Leon Panetta (D., Calif.).@@@@1@25@@oe@2-2-2013
21963008@unknown@formal@none@1@S@"This is a democratic process -- you can't slam-dunk anything around here."@@@@1@12@@oe@2-2-2013
21963009@unknown@formal@none@1@S@White House Budget Director Richard Darman has said he would continue to press to keep the capital-gains provision in the final version of the bill unless the House drops many of its costly provisions.@@@@1@34@@oe@2-2-2013
21963010@unknown@formal@none@1@S@Senate leaders had hoped to be able to send a compromise version of the measure to President Bush by the end of the week, but Speaker Foley said that wasn't likely.@@@@1@31@@oe@2-2-2013
21963011@unknown@formal@none@1@S@Failure to pass the bill meant that $16.1 billion in across-the-board spending cuts took effect Monday under the Gramm-Rudman budget law.@@@@1@21@@oe@2-2-2013
21963012@unknown@formal@none@1@S@The bill must be enacted before the cuts can be restored.@@@@1@11@@oe@2-2-2013
21964001@unknown@formal@none@1@S@TRADING VOLUME in Standard & Poor's 500 stock-index futures contracts on the Chicago Mercantile Exchange Monday totaled 73,803 contracts.@@@@1@19@@oe@2-2-2013
21964002@unknown@formal@none@1@S@Yesterday's edition incorrectly reported Monday's trading volume as a record for the S&P 500 contract.@@@@1@15@@oe@2-2-2013
21965001@unknown@formal@none@1@S@NCNB Corp. raised $1 billion in new capital during the third quarter.@@@@1@12@@oe@2-2-2013
21965002@unknown@formal@none@1@S@In yesterday's edition, the amount of new capital was misstated.@@@@1@10@@oe@2-2-2013
21966001@unknown@formal@none@1@S@McCormick Capital Inc. said its tender offer to buy back as many as 1.1 million, or 44%, of its common shares at $3 apiece, which expired Friday evening, was oversubscribed.@@@@1@30@@oe@2-2-2013
21966002@unknown@formal@none@1@S@The developer and manager of futures-investment limited partnerships said preliminary results indicate that about 1,749,000 shares had been tendered, giving a preliminary proration factor of 0.6287.@@@@1@26@@oe@2-2-2013
21966003@unknown@formal@none@1@S@The final proration factor will be announced Monday.@@@@1@8@@oe@2-2-2013
21967001@unknown@formal@none@1@S@Northgate Exploration Ltd. said it is proposing to amalgamate four of its associated companies.@@@@1@14@@oe@2-2-2013
21967002@unknown@formal@none@1@S@Under a proposed two-step amalgamation involving share swaps, ABM Gold Corp., a gold exploration and management company, will merge with Neptune Resources Corp., United Gold Corp. and Inca Resources Inc.@@@@1@30@@oe@2-2-2013
21967003@unknown@formal@none@1@S@ABM will also increase its stake in Sonora Gold Corp. to 42% from 26%.@@@@1@14@@oe@2-2-2013
21967004@unknown@formal@none@1@S@Northgate said it will own about 50% of the equity and 81% of the votes of ABM after the amalgamation.@@@@1@20@@oe@2-2-2013
21967005@unknown@formal@none@1@S@The amalgamations are subject to regulatory approval and require approval by shareholders of ABM, Inca, United and Neptune at special meetings on Nov. 10.@@@@1@24@@oe@2-2-2013
21968001@unknown@formal@none@1@S@Steven C. Walker, senior vice president of this bank holding company, was named president, chief executive officer and a director of both Commercial National and Commercial National Bank.@@@@1@28@@oe@2-2-2013
21968002@unknown@formal@none@1@S@He succeeds James E. Burt III, who resigned from all three posts to pursue other interests.@@@@1@16@@oe@2-2-2013
21969001@unknown@formal@none@1@S@Cincinnati Microwave Inc. said it introduced two radar detectors.@@@@1@9@@oe@2-2-2013
21969002@unknown@formal@none@1@S@One unit, called the Escort, uses a new digital signal-processing technology to detect radar signals much sooner than was previously possible, the company said.@@@@1@24@@oe@2-2-2013
21969003@unknown@formal@none@1@S@The other, called the Solo, is battery operated and is the first high-performance radar detector that doesn't need a power cord, the company said.@@@@1@24@@oe@2-2-2013
21970001@unknown@formal@none@1@S@A surprising surge in the U.S. trade deficit raised fears that the nation's export drive has stalled, and caused new turmoil in financial markets.@@@@1@24@@oe@2-2-2013
21970002@unknown@formal@none@1@S@The merchandise trade deficit widened in August to $10.77 billion, the Commerce Department reported, a sharp deterioration from July's $8.24 billion and the largest deficit of any month this year.@@@@1@30@@oe@2-2-2013
21970003@unknown@formal@none@1@S@Exports fell for the second month in a row, while imports rose to a record.@@@@1@15@@oe@2-2-2013
21970004@unknown@formal@none@1@S@"This is one of the worst trade releases we've had since the dollar troughed out in 1987," said Geoffrey Dennis, chief international economist at James Capel Inc.@@@@1@27@@oe@2-2-2013
21970005@unknown@formal@none@1@S@Like most analysts, Mr. Dennis was hesitant to read too much into one month's numbers; but he said, "It indicates perhaps that the balance in the U.S. economy is not as good as we've been led to believe."@@@@1@38@@oe@2-2-2013
21970006@unknown@formal@none@1@S@The number had a troubling effect on Wall Street, suggesting that more fundamental economic problems may underlie last Friday's stock market slide.@@@@1@22@@oe@2-2-2013
21970007@unknown@formal@none@1@S@The Dow Jones Industrial Average tumbled more than 60 points after the report's release, before recovering to close 18.65 points lower at 2638.73.@@@@1@23@@oe@2-2-2013
21970008@unknown@formal@none@1@S@"This bad trade number raises some deeper issues about the market decline," said Norman Robertson, chief economist for Mellon Bank.@@@@1@20@@oe@2-2-2013
21970009@unknown@formal@none@1@S@"It raises questions about more deep-seated problems, the budget deficit and the trade deficit and the seeming lack of ability to come to grips with them."@@@@1@26@@oe@2-2-2013
21970010@unknown@formal@none@1@S@The trade report drew yet another unsettling parallel to October 1987.@@@@1@11@@oe@2-2-2013
21970011@unknown@formal@none@1@S@On Oct. 14 of that year, the announcement of an unusually large August trade deficit helped trigger a steep market decline.@@@@1@21@@oe@2-2-2013
21970012@unknown@formal@none@1@S@The slide continued until the record 508-point market drop on Oct. 19.@@@@1@12@@oe@2-2-2013
21970013@unknown@formal@none@1@S@In 1987, however, the news was the latest in a string of disappointments on trade, while the current report comes after a period of improvement.@@@@1@25@@oe@2-2-2013
21970014@unknown@formal@none@1@S@The bleak trade report was played down by the Bush administration.@@@@1@11@@oe@2-2-2013
21970015@unknown@formal@none@1@S@Commerce Secretary Robert Mosbacher called the worsening trade figures "disappointing after two very good months."@@@@1@15@@oe@2-2-2013
21970016@unknown@formal@none@1@S@And White House spokesman Marlin Fitzwater said the deficit was "an unwelcome increase," adding that "we're hopeful that it simply is a one-month situation and will turn around."@@@@1@28@@oe@2-2-2013
21970017@unknown@formal@none@1@S@But the figures reinforced the view of many private analysts that the improvement in the U.S. trade deficit has run out of steam.@@@@1@23@@oe@2-2-2013
21970018@unknown@formal@none@1@S@"The figures today add further evidence to support the view that the improvement in the U.S. trade deficit has essentially stalled out at a level of about a $110 billion annual rate," said Jeffrey Scott, a research fellow at the Institute for International Economics here.@@@@1@45@@oe@2-2-2013
21970019@unknown@formal@none@1@S@"That's still an improvement over last year, but it leads one to conclude that basically we've gotten all the mileage we can out of past dollar depreciation and past marginal cuts in the federal budget deficit."@@@@1@36@@oe@2-2-2013
21970020@unknown@formal@none@1@S@Exports declined for the second consecutive month in August, slipping 0.2% to $30.41 billion, the Commerce Department reported.@@@@1@18@@oe@2-2-2013
21970021@unknown@formal@none@1@S@Imports, on the other hand, leaped 6.4% to a record $41.18 billion.@@@@1@12@@oe@2-2-2013
21970022@unknown@formal@none@1@S@Not only was August's deficit far worse than July's, but the government revised the July figure substantially from the $7.58 billion deficit it had initially reported last month.@@@@1@28@@oe@2-2-2013
21970023@unknown@formal@none@1@S@Many economists contend that deep cuts in the U.S. budget deficit are needed before further trade improvement can occur.@@@@1@19@@oe@2-2-2013
21970024@unknown@formal@none@1@S@That's because the budget deficit feeds an enormous appetite in this country for both foreign goods and foreign capital, overwhelming the nation's capacity to export.@@@@1@25@@oe@2-2-2013
21970025@unknown@formal@none@1@S@"People are sick and tired of hearing about these deficits, but the imbalances are still there and they are still a problem," said Mr. Robertson.@@@@1@25@@oe@2-2-2013
21970026@unknown@formal@none@1@S@In addition, the rise in the value of the dollar against foreign currencies over the past several months has increased the price of U.S. products in overseas markets and hurt the country's competitiveness.@@@@1@33@@oe@2-2-2013
21970027@unknown@formal@none@1@S@Since March, exports have been virtually flat.@@@@1@7@@oe@2-2-2013
21970028@unknown@formal@none@1@S@At the same time, William T. Archey, international vice president at the U.S. Chamber of Commerce, notes: "Clearly the stronger dollar has made imports more attractive" by causing their prices to decline.@@@@1@32@@oe@2-2-2013
21970029@unknown@formal@none@1@S@Most economists expect the slowing U.S. economy to curb demand for imports.@@@@1@12@@oe@2-2-2013
21970030@unknown@formal@none@1@S@But they foresee little substantial progress in exports unless the dollar and the federal budget deficit come down.@@@@1@18@@oe@2-2-2013
21970031@unknown@formal@none@1@S@"The best result we could get from these numbers would be to see the administration and Congress get serious about putting the U.S. on an internationally competitive economic footing," said Howard Lewis, vice president of international economic affairs at the National Association of Manufacturers.@@@@1@44@@oe@2-2-2013
21970032@unknown@formal@none@1@S@"That must start with cutting the federal budget deficit."@@@@1@9@@oe@2-2-2013
21970033@unknown@formal@none@1@S@August's decline in exports reflected decreases in sales of industrial supplies, capital goods and food abroad and increases in sales of motor vehicles, parts and engines.@@@@1@26@@oe@2-2-2013
21970034@unknown@formal@none@1@S@The jump in imports stemmed from across-the-board increases in purchases of foreign goods.@@@@1@13@@oe@2-2-2013
21970035@unknown@formal@none@1@S@The numbers were adjusted for usual seasonal fluctuations.@@@@1@8@@oe@2-2-2013
21970036@unknown@formal@none@1@S@Alan Murray contributed to this article.@@@@1@6@@oe@2-2-2013
21970037@unknown@formal@none@1@S@(In billions of U.S. dollars, not seasonally adjusted)@@@@1@8@@oe@2-2-2013
21970038@unknown@formal@none@1@S@*Newly industrialized countries: Singapore, Hong Kong, Taiwan, South Korea@@@@1@9@@oe@2-2-2013
21971001@unknown@formal@none@1@S@Steve Jobs took a step back from the frontier of personal-computer technology in an effort to spur sales of Next Inc.'s new machine.@@@@1@23@@oe@2-2-2013
21971002@unknown@formal@none@1@S@Mr. Jobs moved to remedy a couple of his computer's drawbacks yesterday by lowering the entry-level price for a Next machine by $1,500, or 23%, if the buyer chooses a hard-disk drive as an alternative to Next's optical-storage device.@@@@1@39@@oe@2-2-2013
21971003@unknown@formal@none@1@S@The hard drive, which is the storage device of choice for virtually every desktop computer user, also now will supplement Next's futuristic optical device if buyers pay full price.@@@@1@29@@oe@2-2-2013
21971004@unknown@formal@none@1@S@Mr. Jobs, co-founder of Apple Computer Inc., founded Next four years ago in the hopes of fomenting a revolution in the way desktop computers are designed and used.@@@@1@28@@oe@2-2-2013
21971005@unknown@formal@none@1@S@His Next computer, introduced about a year ago and aimed primarily at university computer users, sports snazzy graphics, digital sound, built-in networking and a sleek black design.@@@@1@27@@oe@2-2-2013
21971006@unknown@formal@none@1@S@But the computer was proving a hard sell because of its high price, a lack of software and an optical data-storage device that was too slow.@@@@1@26@@oe@2-2-2013
21971007@unknown@formal@none@1@S@The machine began shipping at the end of last year.@@@@1@10@@oe@2-2-2013
21971008@unknown@formal@none@1@S@The closely held company hasn't disclosed sales.@@@@1@7@@oe@2-2-2013
21971009@unknown@formal@none@1@S@However, most universities that have bought the machines say they are buying small numbers for evaluation purposes.@@@@1@17@@oe@2-2-2013
21971010@unknown@formal@none@1@S@Universities can now buy a Next computer without an optical storage device for $4,995.@@@@1@14@@oe@2-2-2013
21971011@unknown@formal@none@1@S@A computer with the optical device will still cost $6,495, but from now on Next will outfit every computer with a hard drive and supply one at no cost to those who have already bought Next machines.@@@@1@37@@oe@2-2-2013
21971012@unknown@formal@none@1@S@Commercial customers can purchase the same system through Businessland Inc., a computer retailer based in San Jose, Calif., for roughly $3,000 more.@@@@1@22@@oe@2-2-2013
21971013@unknown@formal@none@1@S@Mr. Jobs said the changes were prompted by requests from customers who are frustrated with the performance of the optical device, which isn't offered as standard equipment by any rivals.@@@@1@30@@oe@2-2-2013
21971014@unknown@formal@none@1@S@Another factor was that customers were asking, "Why don't you give us a cheaper system?" Mr. Jobs said at a conference on university computing here.@@@@1@25@@oe@2-2-2013
21971015@unknown@formal@none@1@S@Optical-storage devices can handle very large amounts of data and make it far easier to edit film clips or audio recordings with a computer.@@@@1@24@@oe@2-2-2013
21971016@unknown@formal@none@1@S@But the technology, while reliable, is far slower than the widely used hard drives.@@@@1@14@@oe@2-2-2013
21971017@unknown@formal@none@1@S@To get around the delays caused by the optical device, Businessland, which is Next's exclusive dealer to corporations, has for months been advising customers to purchase hard drives with the machines.@@@@1@31@@oe@2-2-2013
21971018@unknown@formal@none@1@S@Next's decision to rely on the more-established hard drive in every Next computer doesn't signal a retreat from optical storage, said Mr. Jobs, who for years has said this technology will play a crucial role in the next decade.@@@@1@39@@oe@2-2-2013
21971019@unknown@formal@none@1@S@"We're extremely committed to optical storage technology" he said.@@@@1@9@@oe@2-2-2013
21971020@unknown@formal@none@1@S@"We think everything will go this way in a few years."@@@@1@11@@oe@2-2-2013
21971021@unknown@formal@none@1@S@He said that the next generation of optical drives will be as fast as hard drives, but he depends on outside suppliers for the devices.@@@@1@25@@oe@2-2-2013
21971022@unknown@formal@none@1@S@But university computer specialists, who welcomed the move, called it a necessary retreat from the cutting edge of technology and one that's likely to increase Next's sales on campuses.@@@@1@29@@oe@2-2-2013
21971023@unknown@formal@none@1@S@"From the standpoint of being on the forefront of technology, this is a step backward," said Jerry W. Sprecher, a senior computing manager for the California state university system.@@@@1@29@@oe@2-2-2013
21971024@unknown@formal@none@1@S@"But it will definitely boost Next's sales."@@@@1@7@@oe@2-2-2013
21971025@unknown@formal@none@1@S@Universities, however, say Next's prices must go even lower before large numbers of students purchase the machine.@@@@1@17@@oe@2-2-2013
21971026@unknown@formal@none@1@S@"We'd still like to see a student model," priced at about $3,500, said Ronald Johnson, director of academic computing at Minnesota's Gustavus Adolphus College, which has bought eight Next machines.@@@@1@30@@oe@2-2-2013
21971027@unknown@formal@none@1@S@Broad acceptance of Next's computer also is hindered by difficulty in distributing software for it.@@@@1@15@@oe@2-2-2013
21971028@unknown@formal@none@1@S@Most software is distributed on cheap floppy disks, but the Next computer doesn't come with a device that reads them.@@@@1@20@@oe@2-2-2013
21971029@unknown@formal@none@1@S@Next's computer also needs more software applications, but Mr. Jobs said he expects more soon.@@@@1@15@@oe@2-2-2013
21971030@unknown@formal@none@1@S@He said he expects Lotus Development Corp. to introduce a Next version of its popular 1-2-3 spreadsheet program in 1990.@@@@1@20@@oe@2-2-2013
21971031@unknown@formal@none@1@S@Educators added that Next needs to soon offer a color version of its computer.@@@@1@14@@oe@2-2-2013
21971032@unknown@formal@none@1@S@Every major maker offers computers with color displays.@@@@1@8@@oe@2-2-2013
21971033@unknown@formal@none@1@S@Next won't comment on when it will do the same, but is believed to have a color model under development.@@@@1@20@@oe@2-2-2013
21972001@unknown@formal@none@1@S@Donald J. Amaral, 37 years old, was named president and chief operating officer of this owner and operator of hospitals, nursing centers and retirement hotels.@@@@1@25@@oe@2-2-2013
21972002@unknown@formal@none@1@S@He succeeds as president, Don Freeberg, who remains chairman and chief executive officer.@@@@1@13@@oe@2-2-2013
21972003@unknown@formal@none@1@S@The position of chief operating officer is new.@@@@1@8@@oe@2-2-2013
21973001@unknown@formal@none@1@S@Ashton-Tate Corp. reported a net loss of $19.4 million, or 74 cents a share, for the third quarter, which was burdened by severance costs and the expense of upgrading its database software inventories.@@@@1@33@@oe@2-2-2013
21973002@unknown@formal@none@1@S@The software company said revenue slid 28% to $53.9 million.@@@@1@10@@oe@2-2-2013
21973003@unknown@formal@none@1@S@This contrasts with the year-ago quarter, when the company had net income of $11.7 million, or 45 cents a share, on revenue of $75.7 million.@@@@1@25@@oe@2-2-2013
21973004@unknown@formal@none@1@S@For the nine months, Ashton-Tate had a loss of $27.6 million, or $1.05 a share.@@@@1@15@@oe@2-2-2013
21973005@unknown@formal@none@1@S@In the year-ago period, the company had profit of $34.3 million, or $1.32 a share.@@@@1@15@@oe@2-2-2013
21973006@unknown@formal@none@1@S@Revenue in the period slid almost 8% to $203.2 million from about $220 million last year.@@@@1@16@@oe@2-2-2013
21973007@unknown@formal@none@1@S@Edward M. Esber, chairman, president and chief executive officer, attributed the decline to reduced domestic revenue because of $4.9 million spent to upgrade existing software inventories to the new database IV Version 1.1, and $1.8 million spent on the recent reduction in work force.@@@@1@44@@oe@2-2-2013
21973008@unknown@formal@none@1@S@He said the company was "encouraged by feedback" it received from selected customers now testing Version 1.1.@@@@1@17@@oe@2-2-2013
21973009@unknown@formal@none@1@S@The red ink came as no surprise to Wall Street, but analysts said they saw ominous hints of a further delay in volume shipments of Version 1.1, a harbinger of continued losses in the fourth quarter.@@@@1@36@@oe@2-2-2013
21973010@unknown@formal@none@1@S@"The loss is in line with our expectations," said John C. Maxwell III, an analyst with Dillon, Read & Co. in New York.@@@@1@23@@oe@2-2-2013
21973011@unknown@formal@none@1@S@He added gross margins and operating profit "eroded quite dramatically" from the prior quarter, along with sales of existing software product lines like Multimate and Framework.@@@@1@26@@oe@2-2-2013
21973012@unknown@formal@none@1@S@"The success of a new product in the database line is needed.@@@@1@12@@oe@2-2-2013
21973013@unknown@formal@none@1@S@And while the company hasn't made a definite statement, it now looks like that's not going to be anytime soon," Mr. Maxwell said.@@@@1@23@@oe@2-2-2013
21973014@unknown@formal@none@1@S@The company said in a statement that it expects to ship new products "during the next two quarters."@@@@1@18@@oe@2-2-2013
21973015@unknown@formal@none@1@S@"It now looks like database IV Version 1.1 isn't going to be {widely} available until the first quarter of 1990," said David Bayer, an analyst with Montgomery Securities in San Francisco.@@@@1@31@@oe@2-2-2013
21973016@unknown@formal@none@1@S@"This is the second delay now in getting the product out the door.@@@@1@13@@oe@2-2-2013
21973017@unknown@formal@none@1@S@It does prolong the pain somewhat."@@@@1@6@@oe@2-2-2013
21973018@unknown@formal@none@1@S@Mr. Maxwell said unless the company can start shipments of the new product sometime this quarter, the fourth-quarter loss is likely to be "comparable to the third quarter's."@@@@1@28@@oe@2-2-2013
21973019@unknown@formal@none@1@S@If the company can start to ship during this quarter, it could stem some, if not all of the red ink, he said.@@@@1@23@@oe@2-2-2013
21973020@unknown@formal@none@1@S@In national over-the-counter trading, Ashton-Tate closed yesterday at $10 a share, up 62.5 cents.@@@@1@14@@oe@2-2-2013
21974001@unknown@formal@none@1@S@Tuesday, October 17, 1989@@@@1@4@@oe@2-2-2013
21974002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
21974003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
21974004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
21974005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 11/16% high, 8 5/8% low, 8 5/8% near closing bid, 8 11/16% offered.@@@@1@16@@oe@2-2-2013
21974006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
21974007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
21974008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
21974009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
21974010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
21974011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
21974012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.: 8.40% 30 to 44 days; 8.325% 45 to 59 days; 8.10% 60 to 89 days; 8% 90 to 119 days; 7.85% 120 to 149 days; 7.70% 150 to 179 days; 7.375% 180 to 270 days.@@@@1@44@@oe@2-2-2013
21974013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000: 8.50% 30 days; 8.40% 60 days; 8.375% 90 days.@@@@1@24@@oe@2-2-2013
21974014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.05% one month; 8.02% two months; 8% three months; 7.98% six months; 7.95% one year.@@@@1@18@@oe@2-2-2013
21974015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
21974016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
21974017@unknown@formal@none@1@S@Typical rates in the secondary market: 8.50% one month; 8.50% three months; 8.45% six months.@@@@1@15@@oe@2-2-2013
21974018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.38% 30 days; 8.28% 60 days; 8.23% 90 days; 8.13% 120 days; 8.03% 150 days; 7.93% 180 days.@@@@1@20@@oe@2-2-2013
21974019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
21974020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 5/8% to 8 1/2% one month; 8 9/16% to 8 7/16% two months; 8 9/16% to 8 7/16% three months; 8 1/2% to 8 3/8% four months; 8 7/16% to 8 5/16% five months; 8 7/16% to 8 5/16% six months.@@@@1@45@@oe@2-2-2013
21974021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 5/8% one month; 8 9/16% three months; 8 7/16% six months; 8 7/16% one year.@@@@1@21@@oe@2-2-2013
21974022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
21974023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 8.50%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
21974024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
21974025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 16, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.37% 13 weeks; 7.42% 26 weeks.@@@@1@35@@oe@2-2-2013
21974026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac): Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@18@@oe@2-2-2013
21974027@unknown@formal@none@1@S@9.88%, standard conventional fixed-rate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
21974028@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21974029@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae): Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par) 9.80%, standard conventional fixed-rate mortgages; 8.70%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@34@@oe@2-2-2013
21974030@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
21974031@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.50%.@@@@1@6@@oe@2-2-2013
21974032@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
21975001@unknown@formal@none@1@S@Ethyl Corp. reported that third-quarter net income fell 12% from a year-earlier quarter helped by a gain from discontinued operations.@@@@1@20@@oe@2-2-2013
21975002@unknown@formal@none@1@S@Profit from continuing operations rose 19%.@@@@1@6@@oe@2-2-2013
21975003@unknown@formal@none@1@S@The chemicals and insurance company said net in the latest quarter was $54.8 million, or 45 cents a share.@@@@1@19@@oe@2-2-2013
21975004@unknown@formal@none@1@S@In the year-earlier quarter, net was $62.2 million, or 51 cents a share.@@@@1@13@@oe@2-2-2013
21975005@unknown@formal@none@1@S@The previous-year quarter included $16.1 million from businesses spun off as Tredegar Industries Inc.@@@@1@14@@oe@2-2-2013
21975006@unknown@formal@none@1@S@Revenue was $613.7 million, up 18% from $521.2 million a year ago.@@@@1@12@@oe@2-2-2013
21975007@unknown@formal@none@1@S@Ethyl said pretax profit from its insurance segment, excluding investment gains, rose 28% in the latest quarter to $28.6 million from $22.4 million.@@@@1@23@@oe@2-2-2013
21975008@unknown@formal@none@1@S@In the chemicals segment, pretax profit rose 7% to $69.2 million from $64.9 million.@@@@1@14@@oe@2-2-2013
21975009@unknown@formal@none@1@S@The company's chemicals interests include, among other things, petroleum additives, pharmaceuticals ingredients and polysilicon used by the semiconductor industry.@@@@1@19@@oe@2-2-2013
21975010@unknown@formal@none@1@S@For the nine months, Ethyl said net fell 2% to $168.7 million, or $1.40 a share, from $172.2 million, $1.42 a share, a year ago.@@@@1@25@@oe@2-2-2013
21975011@unknown@formal@none@1@S@Net in the latest period included $11.9 million from discontinued operations and a charge of $6.2 million from a plant closing.@@@@1@21@@oe@2-2-2013
21975012@unknown@formal@none@1@S@In the year-ago period, net included $32.7 million from discontinued operations.@@@@1@11@@oe@2-2-2013
21975013@unknown@formal@none@1@S@Revenue was $1.79 billion, up 18% from $1.52 billion a year earlier.@@@@1@12@@oe@2-2-2013
21975014@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Ethyl closed at $25.875 a share, up 12.5 cents.@@@@1@16@@oe@2-2-2013
21976001@unknown@formal@none@1@S@Tribune Co., helped by a hefty boost in performance at its broadcasting and entertainment operations, said net income jumped 21% in its third quarter ended Sept. 24 on a 3% increase in revenue.@@@@1@33@@oe@2-2-2013
21976002@unknown@formal@none@1@S@The broadcasting and newspaper concern, based in Chicago, said net was $62.7 million, or 77 cents a primary share, up from $51.6 million, or 69 cents a share.@@@@1@28@@oe@2-2-2013
21976003@unknown@formal@none@1@S@Per-share figures this year reflect $6.8 million in preferred-share dividends; the 1988 quarter didn't have such a payout.@@@@1@18@@oe@2-2-2013
21976004@unknown@formal@none@1@S@Revenue rose to $590.7 million from $575.1 million.@@@@1@8@@oe@2-2-2013
21976005@unknown@formal@none@1@S@Nine-month net climbed 19% to $174.8 million, or $2.21 a primary share, from $147.5 million, or $1.94 a share.@@@@1@19@@oe@2-2-2013
21976006@unknown@formal@none@1@S@Nine-month per-share figures for 1989 reflect $12.9 million in preferred dividends that had no counterpart in the year-earlier quarter.@@@@1@19@@oe@2-2-2013
21976007@unknown@formal@none@1@S@Revenue rose 4% to $1.79 billion.@@@@1@6@@oe@2-2-2013
21976008@unknown@formal@none@1@S@In New York Stock Exchange composite trading Friday, Tribune closed at $49.375, down $4.75.@@@@1@14@@oe@2-2-2013
21977001@unknown@formal@none@1@S@Enserch Corp. said about 12 million, or 93%, of the publicly traded units of its limited partnership, Enserch Exploration Partners Ltd., were tendered in response to an offer that expired Monday.@@@@1@31@@oe@2-2-2013
21977002@unknown@formal@none@1@S@Enserch said the tendered units will raise its ownership of the partnership to more than 99% from 87%.@@@@1@18@@oe@2-2-2013
21977003@unknown@formal@none@1@S@About 900,000 units will continue to be publicly traded on the New York Stock Exchange, Enserch said.@@@@1@17@@oe@2-2-2013
21977004@unknown@formal@none@1@S@Enserch had offered one-half a share of its common and $1 in cash for each unit.@@@@1@16@@oe@2-2-2013
21978001@unknown@formal@none@1@S@The public sector borrowing requirement, the most widely used measure of Britain's government deficit or surplus, showed a deficit of #200 million in September, compared with a deficit of #765 million in August and a deficit of #1.08 billion in September 1988, the Treasury said.@@@@1@45@@oe@2-2-2013
21978002@unknown@formal@none@1@S@In the six months since the current fiscal year began April 1, the surplus totaled #500 million, compared with a surplus of #3.6 billion in the year-earlier period.@@@@1@28@@oe@2-2-2013
21978003@unknown@formal@none@1@S@The government is projecting a #14 billion surplus for the fiscal year.@@@@1@12@@oe@2-2-2013
21978004@unknown@formal@none@1@S@The reported figures for the public sector borrowing requirement include receipts from the sale of state-owned industries.@@@@1@17@@oe@2-2-2013
21978005@unknown@formal@none@1@S@Excluding those receipts, the government deficit would have totaled about #2.5 billion in the first six months, compared with #1.3 billion a year earlier, the Treasury said.@@@@1@27@@oe@2-2-2013
21979001@unknown@formal@none@1@S@French crude-steel production in September was 1,616,000 metric tons, unchanged from a year earlier, according to the National Steel Manufacturers' Association.@@@@1@21@@oe@2-2-2013
21979002@unknown@formal@none@1@S@The association said the September total brought French output for the first nine months this year to 14,789,000 tons, up 4.5% from a year earlier.@@@@1@25@@oe@2-2-2013
21980001@unknown@formal@none@1@S@Prospect Group Inc., whose recent hostile tender offer for Recognition Equipment Inc. failed for lack of financing, apparently has gained a measure of control over the troubled company anyway.@@@@1@29@@oe@2-2-2013
21980002@unknown@formal@none@1@S@As part of what a Recognition spokeswoman termed an "amiable agreement," Prospect Group will wind up with control of top management posts and an increased stake in the maker of data management equipment.@@@@1@33@@oe@2-2-2013
21980003@unknown@formal@none@1@S@In a management restructuring, Thomas L. Ringer resigned as chairman, chief executive and a director, while Israel Sheinberg resigned as a director.@@@@1@22@@oe@2-2-2013
21980004@unknown@formal@none@1@S@Mr. Sheinberg remains as executive vice president.@@@@1@7@@oe@2-2-2013
21980005@unknown@formal@none@1@S@Thomas M. Hurley and Robert A. Vanourek, who had been designated to take over Recognition's top spots had Prospect's tender offer succeeded, were named co-chief executives and directors.@@@@1@28@@oe@2-2-2013
21980006@unknown@formal@none@1@S@Mr. Hurley was formerly a vice president and general manager of an Avery International division; Mr. Vanourek was a former group vice president of Pitney Bowes Inc.@@@@1@27@@oe@2-2-2013
21980007@unknown@formal@none@1@S@In addition, the agreement calls for Gilbert H. Lamphere, chairman of Prospect Group's executive committee, to be named chairman of a restructured board that will include four new independent directors.@@@@1@30@@oe@2-2-2013
21980008@unknown@formal@none@1@S@Also named to the revised board was Thomas A. Loose, Recognition's senior vice president and general counsel.@@@@1@17@@oe@2-2-2013
21980009@unknown@formal@none@1@S@Prospect, a New York-based leveraged buy-out firm, also agreed to invest $15 million in Recognition, which in turn agreed to repurchase as much as $20 million of its stock.@@@@1@29@@oe@2-2-2013
21980010@unknown@formal@none@1@S@That would increase Prospect's ownership of the company's fully-diluted shares outstanding to 20% from 14.1%.@@@@1@15@@oe@2-2-2013
21980011@unknown@formal@none@1@S@Under the agreement, Prospect is permitted to increase its stake in Recognition to 30%.@@@@1@14@@oe@2-2-2013
21980012@unknown@formal@none@1@S@Beyond that, Prospect said it wouldn't offer to acquire additional shares for less than $11.25 a share during the next year or less than $14.06 a share during the subsequent two years.@@@@1@32@@oe@2-2-2013
21980013@unknown@formal@none@1@S@Recognition also said it obtained a commitment from Chemical Bank and Bank of Boston to convert an estimated $18 million in bank debt to a new, 24-month secured term loan to be repaid through the sale of certain assets.@@@@1@39@@oe@2-2-2013
21980014@unknown@formal@none@1@S@In August, Recognition said it was in violation of certain terms of its debt agreements with bank lenders because of a $3.9 million loss for the third quarter ended July 31.@@@@1@31@@oe@2-2-2013
21980015@unknown@formal@none@1@S@The company attributed the loss to declining revenue and litigation costs relating to criminal charges against the company and two former executives, William G. Moore Jr. and Robert W. Reedy.@@@@1@30@@oe@2-2-2013
21980016@unknown@formal@none@1@S@The former executives were indicted last October on charges of fraud, theft and conspiracy related to efforts by the company to win $400 million in Postal Service contracts.@@@@1@28@@oe@2-2-2013
21980017@unknown@formal@none@1@S@Recognition Equipment said it expected to put the agreement with Prospect to a vote of its stockholders at a special meeting in January.@@@@1@23@@oe@2-2-2013
21980018@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Recognition rose 87.5 cents to $6.625.@@@@1@13@@oe@2-2-2013
21980019@unknown@formal@none@1@S@Prospect slipped 25 cents to $10.50 in national over-the-counter trading.@@@@1@10@@oe@2-2-2013
21981001@unknown@formal@none@1@S@General Motors Corp.'s Chevrolet division, reacting to slow sales, said it will offer $800 rebates on its 1990 Beretta, the two-door version of its core compact-car line.@@@@1@27@@oe@2-2-2013
21981002@unknown@formal@none@1@S@Sluggish sales of the Beretta, and its four-door sister car, the Corsica, prompted GM to idle the two plants that build the automobiles for a total of three weeks this month.@@@@1@31@@oe@2-2-2013
21981003@unknown@formal@none@1@S@The Corsica and Beretta make up the highest-volume car line at Chevrolet, but sales of the vehicles are off 9.6% for the year, and fell a steep 34% during early October.@@@@1@31@@oe@2-2-2013
21981004@unknown@formal@none@1@S@Chevrolet already is offering an $800 rebate on the 1990-model Corsica.@@@@1@11@@oe@2-2-2013
21981005@unknown@formal@none@1@S@The latest rebate is good for all Beretta models.@@@@1@9@@oe@2-2-2013
21981006@unknown@formal@none@1@S@Chevrolet buyers can take the rebate, or get discount financing at rates ranging from 6.9% on 24-month loans to 10.9% on 60-month loans.@@@@1@23@@oe@2-2-2013
21982001@unknown@formal@none@1@S@StatesWest Airlines said it submitted an offer to the directors of Mesa Airlines to acquire the Farmington, N.M., carrier.@@@@1@19@@oe@2-2-2013
21982002@unknown@formal@none@1@S@Except to characterize its offer as "fair and generous and in the best interests of Mesa shareholders," StatesWest declined to discuss details of its proposal.@@@@1@25@@oe@2-2-2013
21982003@unknown@formal@none@1@S@It also asked Mesa to keep the proposal confidential.@@@@1@9@@oe@2-2-2013
21982004@unknown@formal@none@1@S@A Mesa official confirmed receipt of the offer and said directors would meet to consider it.@@@@1@16@@oe@2-2-2013
21982005@unknown@formal@none@1@S@Last week, Mesa rejected a proposal by StatesWest to acquire it or merge.@@@@1@13@@oe@2-2-2013
21982006@unknown@formal@none@1@S@StatesWest has a 7.25% stake in Mesa, which operates 20 twin-engine and two single-engine turboprops among 42 cities in New Mexico, Arizona, Wyoming, Colorado and Texas.@@@@1@26@@oe@2-2-2013
21982007@unknown@formal@none@1@S@StatesWest operates four twin-engine turboprop aircraft, connecting 10 cities in California, Arizona and Nevada.@@@@1@14@@oe@2-2-2013
21982008@unknown@formal@none@1@S@The carrier hasn't yet turned a profit.@@@@1@7@@oe@2-2-2013
21983001@unknown@formal@none@1@S@The former president of FirstSouth F.A., a defunct Arkansas thrift, pleaded guilty to conspiring to inflate the institution's earnings by concealing worthless loan guarantees.@@@@1@24@@oe@2-2-2013
21983002@unknown@formal@none@1@S@Roderick D. Reed III, who was also chief operating officer of FirstSouth, could receive a maximum sentence of five years in federal prison and a $250,000 fine.@@@@1@27@@oe@2-2-2013
21983003@unknown@formal@none@1@S@A sentencing date hasn't been set.@@@@1@6@@oe@2-2-2013
21983004@unknown@formal@none@1@S@Mr. Reed admitted he conspired to conceal an agreement not to enforce loan guarantees executed by Dallas real-estate developers A. Starke Taylor III and George S. Watson, both of whom were FirstSouth stockholders.@@@@1@33@@oe@2-2-2013
21983005@unknown@formal@none@1@S@Neither Mr. Taylor nor Mr. Watson have been charged with criminal wrongdoing.@@@@1@12@@oe@2-2-2013
21983006@unknown@formal@none@1@S@By concealing the non-enforcement agreement, certain transactions with Messrs. Taylor and Watson were entered on FirstSouth's books as loans, allowing the thrift to report fees and interest as current income, according to the U.S. attorney's office in Little Rock, Ark.@@@@1@40@@oe@2-2-2013
21983007@unknown@formal@none@1@S@The conspiracy was part of an effort by Mr. Reed to hide FirstSouth's shaky financial condition from federal regulators, according to federal prosecutors and regulators.@@@@1@25@@oe@2-2-2013
21983008@unknown@formal@none@1@S@The $1.68 billion thrift was declared insolvent and closed in December 1986.@@@@1@12@@oe@2-2-2013
21983009@unknown@formal@none@1@S@FirstSouth's former chairman and chief executive officer, Howard Weichern, is also charged with conspiring to conceal the agreements with Messrs. Watson and Taylor.@@@@1@23@@oe@2-2-2013
21983010@unknown@formal@none@1@S@Mr. Weichern is scheduled for trial Jan. 3 before federal Judge Stephen Reasoner of Little Rock.@@@@1@16@@oe@2-2-2013
21984001@unknown@formal@none@1@S@I approached "Mastergate," Larry Gelbart's new comedy at the Criterion Center, with considerable trepidation.@@@@1@14@@oe@2-2-2013
21984002@unknown@formal@none@1@S@Nothing, I assumed, would be more hopelessly dated than a political satire on the Iran-Contra affair.@@@@1@16@@oe@2-2-2013
21984003@unknown@formal@none@1@S@I had underestimated, however, both Mr. Gelbart's wit and the persistence of scandal in Washington.@@@@1@15@@oe@2-2-2013
21984004@unknown@formal@none@1@S@Though the play clearly is framed around the events of Iran-Contra, it takes in the wide sweep of scandals over the past 30 years.@@@@1@24@@oe@2-2-2013
21984005@unknown@formal@none@1@S@In fact, at one point Merry Chase (Melinda Mullins), a cool, carefully coiffed television announcer, recites a list of a dozen or more scandals of recent years, concluding with those affecting the Department of Housing and Urban Development and the savings and loan industry.@@@@1@44@@oe@2-2-2013
21984006@unknown@formal@none@1@S@Onstage, a congressional hearing is in progress, complete with elegant crystal chandelier overhead and a lifesize reproduction of the signing of the Constitution in the background.@@@@1@26@@oe@2-2-2013
21984007@unknown@formal@none@1@S@The witness table is center stage and below it, the paraphernalia for the ever-present media, in this case TNN, the Total News Network.@@@@1@23@@oe@2-2-2013
21984008@unknown@formal@none@1@S@Not only are there camera operators on all sides, but the proceedings are shown on monitors throughout the theater.@@@@1@19@@oe@2-2-2013
21984009@unknown@formal@none@1@S@The metaphor of theater is not entirely coincidental.@@@@1@8@@oe@2-2-2013
21984010@unknown@formal@none@1@S@Mr. Gelbart clearly feels that all the participants in a congressional hearing -- the witnesses, the lawyers, the interrogators and the news media -- are performers.@@@@1@26@@oe@2-2-2013
21984011@unknown@formal@none@1@S@As the story of "Mastergate" unfolds, we learn that the Internal Revenue Service confiscated one of the properties of a foreign financier who owes the government millions in taxes.@@@@1@29@@oe@2-2-2013
21984012@unknown@formal@none@1@S@The man, it seems, has a Lichtenstein corporation, licensed in Libya and sheltered in the Bahamas.@@@@1@16@@oe@2-2-2013
21984013@unknown@formal@none@1@S@He himself lives in a "consecutive series of unnumbered houses in a town in Switzerland."@@@@1@15@@oe@2-2-2013
21984014@unknown@formal@none@1@S@The property seized by the IRS is a Hollywood film studio, Master Pictures Incorporated (MPI).@@@@1@15@@oe@2-2-2013
21984015@unknown@formal@none@1@S@Supposedly the IRS will sell off the assets of MPI, but before it can, a lowly IRS agent is called into the hospital room of Wylie Slaughter, the dying head of the Central Intelligence Agency.@@@@1@35@@oe@2-2-2013
21984016@unknown@formal@none@1@S@The lowly agent, Abel Lamb, who as you might guess, is being led to the slaughter, is ordered to take over the studio.@@@@1@23@@oe@2-2-2013
21984017@unknown@formal@none@1@S@Soon the studio is producing a $40 million picture called "Tet, the Motion Picture," to distinguish it from "Tet, the Offensive," as well as "Tet, the Book" and "Tet, the Album."@@@@1@31@@oe@2-2-2013
21984018@unknown@formal@none@1@S@The picture, to be made in the Central American country of San Elvador, is a cover for sending $800 million of arms to Los Otros, the rebel group attempting to regain neighboring Ambigua, which has been taken over by the leftist dictator Dr. Overtega, a former podiatrist, who leads a revolutionary band of foot soldiers.@@@@1@55@@oe@2-2-2013
21984019@unknown@formal@none@1@S@The man handling all this for the now-deceased Slaughter is Major Manley Battle, Mr. Gelbart's stand in for Col. Oliver North.@@@@1@21@@oe@2-2-2013
21984020@unknown@formal@none@1@S@Director Michael Engler has assembled a top-flight cast to carry out the impersonations of well-known political figures and to play the stock characters who invariably show up at congressional hearings.@@@@1@30@@oe@2-2-2013
21984021@unknown@formal@none@1@S@Daniel von Bargen is ramrod-stiff but totally assured as Major Battle, mixing just the right brand of self-righteousness and patriotism; Jeff Weiss is fire, brimstone and teary-eyed emotionalism as the far-right senator who serves as a friendly interrogator of Major Battle; Zach Grenier is maddeningly officious playing a succession of lawyers; Joseph Daly has the perfect "aw, shucks" demeanor of George Bush in his portrayal of the vice president; and Ann McDonough is first-rate as a succession of witnesses' wives.@@@@1@80@@oe@2-2-2013
21984022@unknown@formal@none@1@S@With one she is pregnant, with Major Battle she is knitting an American flag, and as the vice president's wife she rushes in with white hair, wearing a tailored suit and pearls, imitating Barbara Bush's gestures down to the last detail.@@@@1@41@@oe@2-2-2013
21984023@unknown@formal@none@1@S@Though it's clear that Mr. Gelbart's sympathies do not lie with the far right, it's also true that he is evenhanded in dispensing his satirical jabs, taking sharp aim at senators and congressmen of all stripes and particularly at the media.@@@@1@41@@oe@2-2-2013
21984024@unknown@formal@none@1@S@Mr. Gelbart also has fun with language.@@@@1@7@@oe@2-2-2013
21984025@unknown@formal@none@1@S@"Mastergate" is subtitled "a play on words," and Mr. Gelbart plays that game as well as anyone.@@@@1@17@@oe@2-2-2013
21984026@unknown@formal@none@1@S@He describes a Mastergate flunky as one who experienced a "meteoric disappearance" and found himself "handling blanket appeals at the Bureau of Indian Affairs."@@@@1@24@@oe@2-2-2013
21984027@unknown@formal@none@1@S@This interest in words goes beyond puns and playfulness, however.@@@@1@10@@oe@2-2-2013
21984028@unknown@formal@none@1@S@Mr. Gelbart deplores the obfuscation, the circumlocution and the debasement of language he sees on all sides.@@@@1@17@@oe@2-2-2013
21984029@unknown@formal@none@1@S@As the hearings begin, the self-important Sen. Bowman (Jerome Kilty) announces: "Let me emphaticize one thing at the outset: We are not looking for hides to skin nor goats to scape."@@@@1@31@@oe@2-2-2013
21984030@unknown@formal@none@1@S@Major Battle himself speaks in pure Pentagonese: "Without further monetary-stroke-military aid, scores of Ambiguan freedom lovers, who had gone way out on their life and limbs for us, were literally cut off at the knees without a paddle."@@@@1@38@@oe@2-2-2013
21984031@unknown@formal@none@1@S@At another point he intones: "Publicity is a small price to pay for secrecy."@@@@1@14@@oe@2-2-2013
21984032@unknown@formal@none@1@S@The evening is short -- 95 minutes without an intermission -- but even so, as the play progresses the thrust of Mr. Gelbart's satire loses its sharpness as his targets pop up ever more predictably.@@@@1@35@@oe@2-2-2013
21984033@unknown@formal@none@1@S@Most of the evening, though, is filled with rare and welcome wit.@@@@1@12@@oe@2-2-2013
21984034@unknown@formal@none@1@S@In "Mastergate," Mr. Gelbart has provided us not just one but two commodities that have all but disappeared from the Broadway theater: sharp political satire and an even sharper appreciation of the value of language.@@@@1@35@@oe@2-2-2013
21985001@unknown@formal@none@1@S@The Federal National Mortgage Association set up a three-member office of the chairman and elected James A. Johnson as vice chairman, effective Jan. 1.@@@@1@24@@oe@2-2-2013
21985002@unknown@formal@none@1@S@Mr. Johnson has been a managing director at Shearson Lehman Hutton since 1985, and before that was president of Public Strategies, a Washington consulting firm.@@@@1@25@@oe@2-2-2013
21985003@unknown@formal@none@1@S@He is well-known in Democratic circles, having been executive assistant to Vice President Walter Mondale and chairman of Mr. Mondale's 1984 presidential campaign.@@@@1@23@@oe@2-2-2013
21985004@unknown@formal@none@1@S@At Fannie Mae, he will take responsibility for the corporation's financial and legal areas and will work with David Maxwell, chairman and chief executive officer, and Roger Birk, president and chief operating officer, on strategic planning.@@@@1@36@@oe@2-2-2013
21985005@unknown@formal@none@1@S@Mr. Johnson, 45 years old, has been a consultant on strategy to Fannie Mae for the past 3 1/2 years.@@@@1@20@@oe@2-2-2013
21985006@unknown@formal@none@1@S@In an interview, he said Fannie Mae faces a number of challenges with the restructuring of the thrift industry and the push to broaden its activities overseas.@@@@1@27@@oe@2-2-2013
21985007@unknown@formal@none@1@S@"There's no shortage of major things to do," he said.@@@@1@10@@oe@2-2-2013
21985008@unknown@formal@none@1@S@Fannie Mae also said James A. Aliber, chairman of First Federal of Michigan and a director since 1985, moved up the date of his retirement from the board to accommodate Mr. Johnson's election as a director.@@@@1@36@@oe@2-2-2013
21985009@unknown@formal@none@1@S@The board has 13 members elected by holders and five presidential appointees.@@@@1@12@@oe@2-2-2013
21985010@unknown@formal@none@1@S@Fannie Mae, a federally chartered, shareholder-owned corporation, operates a secondary market for mortgage loans, buying loans from lenders, packaging some into securities for sale to investors and keeping the rest in its portfolio.@@@@1@33@@oe@2-2-2013
21986001@unknown@formal@none@1@S@"The New Crowd" by Judith Ramsey Ehrlich and Barry J. Rehfeld (Little, Brown, 444 pages, $19.95), describes the displacing of the old "our crowd" Jewish Wall Street banking grandees by such new business barons as Saul Steinberg, Carl Icahn, Sanford Weill and Bruce Wasserstein.@@@@1@44@@oe@2-2-2013
21986002@unknown@formal@none@1@S@Its many lively stories include the Gutfreund-Postel holiday cheer imbroglio.@@@@1@10@@oe@2-2-2013
21986003@unknown@formal@none@1@S@These two New Crowd families lived in the same apartment building, with the Postel penthouse perched on top of the Gutfreund duplex.@@@@1@22@@oe@2-2-2013
21986004@unknown@formal@none@1@S@The penthouse elevator started up from the Gutfreund landing, and Susan Gutfreund used to turn off its light, to give the impression that there was no higher floor.@@@@1@28@@oe@2-2-2013
21986005@unknown@formal@none@1@S@Eventually, Mr. Postel broke his toe in the dark.@@@@1@9@@oe@2-2-2013
21986006@unknown@formal@none@1@S@Then the Gutfreunds determined to put up a 22-foot Christmas tree, weighing a quarter of a ton, to amaze their holiday guests.@@@@1@22@@oe@2-2-2013
21986007@unknown@formal@none@1@S@For this, a crane needed to be mounted on the Postels' terrace.@@@@1@12@@oe@2-2-2013
21986008@unknown@formal@none@1@S@The Postels did not give permission.@@@@1@6@@oe@2-2-2013
21986009@unknown@formal@none@1@S@But the Gutfreund workers went ahead anyway, only to be captured "in flagrante" by Joan Postel, who called the police.@@@@1@20@@oe@2-2-2013
21986010@unknown@formal@none@1@S@Before the Gutfreunds finally left this unfriendly environment for a prodigious duplex on Fifth Avenue and an 18th-century mansion with a specially excavated $1 million garage in Paris, the Postels had obtained an injunction to prevent any future hoisting of trees, and in a neighborly spirit hit both the Gutfreunds and the building with a $35 million lawsuit.@@@@1@58@@oe@2-2-2013
21986011@unknown@formal@none@1@S@Nothing less, it seemed, could console them for their traumas.@@@@1@10@@oe@2-2-2013
21986012@unknown@formal@none@1@S@Where had all the money come from?@@@@1@7@@oe@2-2-2013
21986013@unknown@formal@none@1@S@The young John Gutfreund had been discovered by Billy Salomon of Salomon Bros. when he was still a bearded liberal, and put to work as a trader, and then as a rough-and-tumble syndicator.@@@@1@33@@oe@2-2-2013
21986014@unknown@formal@none@1@S@" `Get off your . . .,' he would bellow," say the authors.@@@@1@13@@oe@2-2-2013
21986015@unknown@formal@none@1@S@Rising in the firm, he became powerful and bland, though his new wife, Susan, made him shine in the gossip columns with her profligate spending habits and flamboyant frocks.@@@@1@29@@oe@2-2-2013
21986016@unknown@formal@none@1@S@After he had been head of the company for 3 1/2 years, he and his partners sold it to Phibro, a powerful commodity trading outfit, for $550 million in Phibro stock.@@@@1@31@@oe@2-2-2013
21986017@unknown@formal@none@1@S@Limited partner Billy Salomon, whose family name had been on the firm's door for 70 years and who had hoped it would be there forever, was not consulted.@@@@1@28@@oe@2-2-2013
21986018@unknown@formal@none@1@S@Mr. Gutfreund collected $32 million, while Billy Salomon got $10 million, much less than if he had conducted the sale.@@@@1@20@@oe@2-2-2013
21986019@unknown@formal@none@1@S@"I felt betrayed," he later said.@@@@1@6@@oe@2-2-2013
21986020@unknown@formal@none@1@S@Worse, Salomon's timing had been off.@@@@1@6@@oe@2-2-2013
21986021@unknown@formal@none@1@S@Its profits, unlike Phibro's, soared over the next two years, and had it held out, Salomon could have gotten an even bigger bundle.@@@@1@23@@oe@2-2-2013
21986022@unknown@formal@none@1@S@The book also recounts the not dissimilar maneuvers surrounding the changing of the guard at Lehman Bros. and other grand old firms.@@@@1@22@@oe@2-2-2013
21986023@unknown@formal@none@1@S@Often the genteel, conservative, long-term-oriented investment bankers were displaced by crude traders: "When angered, he cursed so forcefully that his face reddened and his pale-blue eyes narrowed into tiny slits," the authors say of Lehman's Lewis Glucksman.@@@@1@37@@oe@2-2-2013
21986024@unknown@formal@none@1@S@The earlier generation of "our crowd" bankers -- Belmonts, Warburgs, Lehmans, Baches and Schiffs -- had stressed above all probity, tradition, continuity and reputation.@@@@1@24@@oe@2-2-2013
21986025@unknown@formal@none@1@S@They were old-fashioned elegant gentlemen, who happened to be of German Jewish extraction.@@@@1@13@@oe@2-2-2013
21986026@unknown@formal@none@1@S@But in the harsh world of today's Wall Street they have lost out to more aggressive and sometimes less scrupulous successors.@@@@1@21@@oe@2-2-2013
21986027@unknown@formal@none@1@S@The cuckoo prefers the nests of other birds and heaves out their eggs.@@@@1@13@@oe@2-2-2013
21986028@unknown@formal@none@1@S@But the old guard hired the New Crowd people: It brought in its own cuckoos.@@@@1@15@@oe@2-2-2013
21986029@unknown@formal@none@1@S@So, as the Old Crowd toppled from the branch, it shouldn't have been too surprised.@@@@1@15@@oe@2-2-2013
21986030@unknown@formal@none@1@S@The old guard had every right, however, to disdain the newcomers' new ways of making money, such as greenmail.@@@@1@19@@oe@2-2-2013
21986031@unknown@formal@none@1@S@(A Fortune article on Saul Steinberg was entitled, "Fear and Loathing in the Corporate Boardrooms.")@@@@1@15@@oe@2-2-2013
21986032@unknown@formal@none@1@S@Their other staple has been corporate takeovers, often hostile and financed by junk bonds.@@@@1@14@@oe@2-2-2013
21986033@unknown@formal@none@1@S@Hostile takeovers are quite a new phenomenon.@@@@1@7@@oe@2-2-2013
21986034@unknown@formal@none@1@S@Sometimes they are constructive, but often not.@@@@1@7@@oe@2-2-2013
21986035@unknown@formal@none@1@S@First, by making management focus on short-term results, they inhibit building for the future -- just the opposite of Japan.@@@@1@20@@oe@2-2-2013
21986036@unknown@formal@none@1@S@Second, a long-term shareholder of a good company needn't worry too much when the stock price drops temporarily: It will bounce back.@@@@1@22@@oe@2-2-2013
21986037@unknown@formal@none@1@S@But if a raider takes over when the stock is weak, the shareholder never gets his recovery.@@@@1@17@@oe@2-2-2013
21986038@unknown@formal@none@1@S@The raiders, meanwhile, have evolved their own pattern for spending their new millions.@@@@1@13@@oe@2-2-2013
21986039@unknown@formal@none@1@S@As described in "The New Crowd," they take on ambitious new wives, move to Greenwich, Conn., or Bedford, N.Y., buy OK pictures, and let their wives share the wealth with decorators.@@@@1@31@@oe@2-2-2013
21986040@unknown@formal@none@1@S@Having donated heavily to museums, they demand a place on their boards.@@@@1@12@@oe@2-2-2013
21986041@unknown@formal@none@1@S@The book is patronizing about this nouveau riche struggle for respectability, which has its tawdry aspects.@@@@1@16@@oe@2-2-2013
21986042@unknown@formal@none@1@S@However, on balance, the charity game helps America.@@@@1@8@@oe@2-2-2013
21986043@unknown@formal@none@1@S@If those who have the money don't get involved with the museums and the charities, then City Hall will do it, badly.@@@@1@22@@oe@2-2-2013
21986044@unknown@formal@none@1@S@It has been rightly observed that the main thing wrong with tainted money is, t'aint enough of it.@@@@1@18@@oe@2-2-2013
21986045@unknown@formal@none@1@S@A handful of the New Crowd operators have crossed the line from the immoral to the illegal, and have ended up in the slammer or paying huge fines:@@@@1@28@@oe@2-2-2013
21986046@unknown@formal@none@1@S@Ivan Boesky, Dennis Levine, Martin Siegel, Victor and Steven Posner, and now Michael Milken and perhaps Leona Helmsley.@@@@1@18@@oe@2-2-2013
21986047@unknown@formal@none@1@S@The glitzy office that Ivan Boesky vacated for a prison cell had previously contained commodity operators Marc Rich and "Pinky" Green, today fugitives from a potential century apiece of jail sentences.@@@@1@31@@oe@2-2-2013
21986048@unknown@formal@none@1@S@The Old Crowd is deeply concerned by the backlash from all this.@@@@1@12@@oe@2-2-2013
21986049@unknown@formal@none@1@S@However, the phenomenon is not specifically Jewish.@@@@1@7@@oe@2-2-2013
21986050@unknown@formal@none@1@S@It has always been true that those outside the club want to climb in, and that a few will cut corners in the process.@@@@1@24@@oe@2-2-2013
21986051@unknown@formal@none@1@S@Some pretty seamy stuff built the turn-of-the-century families' Fifth Avenue and Newport palazzi and endowed their daughters' weddings to foreign noblemen.@@@@1@21@@oe@2-2-2013
21986052@unknown@formal@none@1@S@Mr. Boesky was a piker compared to Jay Gould and Jim Fiske, and Commodore Vanderbilt thought nothing of bribing judges and legislators.@@@@1@22@@oe@2-2-2013
21986053@unknown@formal@none@1@S@So who knows?@@@@1@3@@oe@2-2-2013
21986054@unknown@formal@none@1@S@In a generation or two some of the New Crowd may attain true respectability, perhaps to be displaced in turn by a later flock of unscrupulous raptors.@@@@1@27@@oe@2-2-2013
21986055@unknown@formal@none@1@S@Or perhaps Wall Street, when it has suffered enough, will realize that finance is a service industry, and change its ethos.@@@@1@21@@oe@2-2-2013
21986056@unknown@formal@none@1@S@Mr. Train is president of Train, Smith Investment Counsel, New York.@@@@1@11@@oe@2-2-2013
21987001@unknown@formal@none@1@S@Dallas investor Harold C. Simmons said he raised his stake in Lockheed Corp. to 10.62% from 10.43% of the aerospace and electronics concern's common shares.@@@@1@25@@oe@2-2-2013
21987002@unknown@formal@none@1@S@In a Securities and Exchange Commission filing, Mr. Simmons said he and companies he controls, NL Industries Inc. and NL Chemicals Inc., hold 6,744,600 shares of Lockheed, of Calabasas, Calif.@@@@1@30@@oe@2-2-2013
21987003@unknown@formal@none@1@S@They include 122,700 shares bought Friday for between $47.125 and $48 each.@@@@1@12@@oe@2-2-2013
21987004@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Lockheed closed at $46.125 a share, down 12.5 cents.@@@@1@18@@oe@2-2-2013
21987005@unknown@formal@none@1@S@Earlier this week, Mr. Simmons objected to published reports quoting him as saying he planned to sell his Lockheed stake because "the defense industry seems to be getting more uncertain."@@@@1@30@@oe@2-2-2013
21987006@unknown@formal@none@1@S@Valhi Inc., another of Mr. Simmons' companies, responded to an article Monday in The Wall Street Journal, which credited a story in the Sunday Los Angeles Daily News.@@@@1@28@@oe@2-2-2013
21987007@unknown@formal@none@1@S@Valhi said the articles didn't accurately reflect Valhi and its affiliates' intentions toward Lockheed.@@@@1@14@@oe@2-2-2013
21987008@unknown@formal@none@1@S@Instead, Valhi said, they may increase, decrease or retain their Lockheed holdings, depending on a number of conditions.@@@@1@18@@oe@2-2-2013
21988001@unknown@formal@none@1@S@Canada, which is preparing to speed up tariff cuts with the U.S., recorded a 47% narrowing in its trade surplus with the U.S. in August, Statistics Canada, a federal agency, reported.@@@@1@31@@oe@2-2-2013
21988002@unknown@formal@none@1@S@U.S. exports to Canada jumped 11.2% in August from July while U.S. imports from Canada rose only 2.7%.@@@@1@18@@oe@2-2-2013
21988003@unknown@formal@none@1@S@As a result, Canada's trade surplus with the U.S. narrowed to C$656.5 million (US$558 million) in August from C$1.23 billion (US$1.04 billion) in July.@@@@1@24@@oe@2-2-2013
21988004@unknown@formal@none@1@S@U.S. exports benefited in August from heavy Canadian spending on new plant and equipment and a pickup in Canadian auto demand, Canadian officials said.@@@@1@24@@oe@2-2-2013
21988005@unknown@formal@none@1@S@The U.S. and Canada, which do more trade than any other pair of nations, are to meet next month to arrange an acceleration of planned tariff cuts under the U.S.-Canada free trade agreement.@@@@1@33@@oe@2-2-2013
21988006@unknown@formal@none@1@S@Industries in both countries have requested a speedup of tariff cuts on hundreds of products.@@@@1@15@@oe@2-2-2013
21988007@unknown@formal@none@1@S@Some tariffs were eliminated when the trade pact took effect Jan. 1.@@@@1@12@@oe@2-2-2013
21988008@unknown@formal@none@1@S@The remainder were to be phased out in five or 10 annual installments, with all tariffs eliminated by January 1998.@@@@1@20@@oe@2-2-2013
21988009@unknown@formal@none@1@S@The two countries aim to reach an agreement by early December on a package of accelerated tariff cuts that would take effect early next year.@@@@1@25@@oe@2-2-2013
21988010@unknown@formal@none@1@S@Canadian officials said the trade pact has kindled an export interest among many small Canadian companies that previously had little or no foreign sales.@@@@1@24@@oe@2-2-2013
21988011@unknown@formal@none@1@S@For such businessmen, the Canadian government is organizing 55 missions this year to U.S. states bordering on Canada.@@@@1@18@@oe@2-2-2013
21988012@unknown@formal@none@1@S@The businessmen are introduced to potential agents and distributors and instructed in trade procedures.@@@@1@14@@oe@2-2-2013
21988013@unknown@formal@none@1@S@The U.S. Commerce Department is planning to try out similar trips on U.S. businessmen in coming months under its Canada First! Outreach Program.@@@@1@23@@oe@2-2-2013
21988014@unknown@formal@none@1@S@Participants in the U.S. missions to Canada are to be assisted by members of the Service Corps of Retired Executives, a volunteer group, in dealing with their export challenges.@@@@1@29@@oe@2-2-2013
21988015@unknown@formal@none@1@S@The Canadian government also has recently opened new trade offices in San Diego; San Juan, Puerto Rico; Miami; Princeton, N.J., and Denver, bringing the total number of such Canadian offices in the U.S. to 27.@@@@1@35@@oe@2-2-2013
21988016@unknown@formal@none@1@S@The U.S. has six trade promotion offices in Canada.@@@@1@9@@oe@2-2-2013
21988017@unknown@formal@none@1@S@Canada's export effort has been blunted by robust home market demand and by an 18% appreciation of the Canadian dollar against its U.S. counterpart in the past three years that has made Canadian goods more costly in the U.S.@@@@1@39@@oe@2-2-2013
21988018@unknown@formal@none@1@S@Canada's trade surplus with all countries narrowed to C$203.5 million in August from C$528.3 million in July, Statistics Canada said.@@@@1@20@@oe@2-2-2013
21989001@unknown@formal@none@1@S@Loral Corp. said it received a $325 million order from Turkey's Ministry of Defense, the largest contract the company ever has received.@@@@1@22@@oe@2-2-2013
21989002@unknown@formal@none@1@S@Loral will provide to Turkey an electronic countermeasures system for its fleet of F-16 aircraft.@@@@1@15@@oe@2-2-2013
21989003@unknown@formal@none@1@S@The system provides radar-threat warning and electronic jamming capabilities.@@@@1@9@@oe@2-2-2013
21989004@unknown@formal@none@1@S@The defense electronics maker said delivery will begin in October 1991 and run through mid-1995.@@@@1@15@@oe@2-2-2013
21989005@unknown@formal@none@1@S@Loral said the contract with Turkey will provide opportunities for Loral to supply that country with other defense systems.@@@@1@19@@oe@2-2-2013
21990001@unknown@formal@none@1@S@Crown Resources Corp. said it reached a definitive agreement to acquire the Gold Texas Resources Ltd. shares it doesn't already own.@@@@1@21@@oe@2-2-2013
21990002@unknown@formal@none@1@S@Under the proposed agreement, Gold Texas holders will receive 1.43 Crown shares for each of the 1.1 million Gold Texas shares not owned by Crown, which already owns 65%.@@@@1@29@@oe@2-2-2013
21990003@unknown@formal@none@1@S@The arrangement is subject to approval by the Supreme Court of British Columbia province, Crown said.@@@@1@16@@oe@2-2-2013
21990004@unknown@formal@none@1@S@Gold Texas is based in Vancouver, British Columbia, and Crown Resources is based in Denver.@@@@1@15@@oe@2-2-2013
21990005@unknown@formal@none@1@S@Both are mining concerns.@@@@1@4@@oe@2-2-2013
21991001@unknown@formal@none@1@S@Apogee Robotics Inc. said its board extended until Feb. 1 the exercise period of Apogee's existing stock purchase warrants outstanding.@@@@1@20@@oe@2-2-2013
21991002@unknown@formal@none@1@S@The expiration date had been Nov. 3.@@@@1@7@@oe@2-2-2013
21991003@unknown@formal@none@1@S@Each of the 1,075,000 warrants entitle the holders to purchase one share of Apogee common stock for $2.25.@@@@1@18@@oe@2-2-2013
21991004@unknown@formal@none@1@S@Apogee was quoted in the over-the-counter market yesterday at $2 bid.@@@@1@11@@oe@2-2-2013
21992001@unknown@formal@none@1@S@Bank of New England Corp., seeking to streamline its business after a year of weak earnings and mounting loan problems, said it will sell some operations and lay off 4% of its work force.@@@@1@34@@oe@2-2-2013
21992002@unknown@formal@none@1@S@The bank holding company also reported that third-quarter profit dropped 41%, to $42.7 million, or 61 cents a share, from the year-earlier $72.3 million, or $1.04 a share.@@@@1@28@@oe@2-2-2013
21992003@unknown@formal@none@1@S@Among its restructuring measures, the company said it plans to sell 53 of its 453 branch offices and to lay off 800 employees.@@@@1@23@@oe@2-2-2013
21992004@unknown@formal@none@1@S@Altogether, employment is expected to decline to less than 16,000 from the current level of about 18,000.@@@@1@17@@oe@2-2-2013
21992005@unknown@formal@none@1@S@Walter Connolly, chairman, said in an interview that the company expects to record pretax gains of $100 million to $125 million from the sale of its leasing operations and of certain financial processing services.@@@@1@34@@oe@2-2-2013
21992006@unknown@formal@none@1@S@In a prepared statement, the company said it expects to realize those gains before year end.@@@@1@16@@oe@2-2-2013
21992007@unknown@formal@none@1@S@Nonperforming assets continued to pile up in the latest quarter, rising to $900 million, or 3.52% of loans and leases, from $667 million, or 2.68%, at the end of the second quarter.@@@@1@32@@oe@2-2-2013
21992008@unknown@formal@none@1@S@Some $170 million of the $233 million increase in nonperforming loans was related to real estate, and roughly three-quarters of that was in the troubled New England market, according to Richard Driscoll, vice chairman.@@@@1@34@@oe@2-2-2013
21992009@unknown@formal@none@1@S@Mr. Driscoll said that, despite continued weakness in the region's real estate market, Bank of New England expects the rate of increase in nonperforming assets to slow in coming quarters.@@@@1@30@@oe@2-2-2013
21992010@unknown@formal@none@1@S@Mr. Connolly noted that net third-quarter charge-offs, at $63 million, improved slightly from the $67 million in the second quarter.@@@@1@20@@oe@2-2-2013
21992011@unknown@formal@none@1@S@And he indicated that more substantial improvement is expected in the next couple of quarters.@@@@1@15@@oe@2-2-2013
21992012@unknown@formal@none@1@S@The company increased its loan loss reserve to $354 million from $342 million at the end of the second quarter.@@@@1@20@@oe@2-2-2013
21992013@unknown@formal@none@1@S@Total assets slipped to $31.4 billion, from $32 billion as of June 30.@@@@1@13@@oe@2-2-2013
21992014@unknown@formal@none@1@S@Among other restructuring measures, the bank said it will close its loan production offices in Chicago, New York and Philadelphia.@@@@1@20@@oe@2-2-2013
21992015@unknown@formal@none@1@S@The Chicago office figured prominently in the bank's problems earlier this year, when $65 million in loans to Chicago businessman William Stoecker went sour.@@@@1@24@@oe@2-2-2013
21992016@unknown@formal@none@1@S@In an internal memorandum to employees, Messrs. Connolly and Driscoll described the restructuring as an effort to continue rationalizing operations assembled during a series of mergers over the past five years.@@@@1@31@@oe@2-2-2013
21993001@unknown@formal@none@1@S@Italy's wholesale price index rose 0.4% in August from July and was up 6.1% from a year earlier, the state statistical institute reported.@@@@1@23@@oe@2-2-2013
21993002@unknown@formal@none@1@S@The index registered 196.1 in August, compared with 195.4 in July and with 184.9 in August 1988.@@@@1@17@@oe@2-2-2013
21993003@unknown@formal@none@1@S@The year-on-year rise in August was slightly down from the 6.4% rate in July.@@@@1@14@@oe@2-2-2013
21993004@unknown@formal@none@1@S@The index has a base of 100 set in 1980 and isn't seasonally adjusted.@@@@1@14@@oe@2-2-2013
21994001@unknown@formal@none@1@S@U.S. steel imports in August fell 14% from a year earlier to 1,531,000 tons, according to the American Iron and Steel Institute.@@@@1@22@@oe@2-2-2013
21994002@unknown@formal@none@1@S@The trade group's compilation of Commerce Department data showed that August imports, the second largest monthly total of the year, were up 5% from July's 1,458,000 tons but below last year's high of 1,979,000 tons in June 1988.@@@@1@38@@oe@2-2-2013
21994003@unknown@formal@none@1@S@August imports claimed 18.5% of the U.S. market, compared with 19.3% in July and 20.5% in August 1988.@@@@1@18@@oe@2-2-2013
21994004@unknown@formal@none@1@S@The latest month's figures show that imports of steel from European Community nations fell to 466,000 tons from 481,000 a month earlier, while imports from Japan rose to 323,000 tons from 288,000 in July.@@@@1@34@@oe@2-2-2013
21994005@unknown@formal@none@1@S@Imports from Canada rose to 272,000 tons in August from 209,000 in July.@@@@1@13@@oe@2-2-2013
21994006@unknown@formal@none@1@S@The American Institute for Imported Steel said imports for the first eight months of 1989 were below the level allowed by the Voluntary Restraint Agreement program.@@@@1@26@@oe@2-2-2013
21994007@unknown@formal@none@1@S@The institute said that, excluding semifinished steel products, year-to-date imports represented 15.2% of consumption, compared with a permitted maximum of 18.5%.@@@@1@21@@oe@2-2-2013
21995001@unknown@formal@none@1@S@Japanese machinery makers received orders totaling 1.465 trillion yen ($10.33 billion) in August, up 14% from a year earlier, the Economic Planning Agency said.@@@@1@24@@oe@2-2-2013
21995002@unknown@formal@none@1@S@"Equipment orders on the domestic side were particularly strong in shipping and power utilities," said an agency official.@@@@1@18@@oe@2-2-2013
21995003@unknown@formal@none@1@S@The latest report compares with a modest 9.9% increase in July machinery orders from a year earlier.@@@@1@17@@oe@2-2-2013
21996001@unknown@formal@none@1@S@In August, soon after Wang Laboratories Inc. reported a staggering $424.3 million loss and replaced its president, two Boston sales representatives sent customers a letter saying: "We fully expect that you will soon be reading stories in the press reporting the `Amazing Comeback at Wang.'"@@@@1@45@@oe@2-2-2013
21996002@unknown@formal@none@1@S@How soon Wang will stage a comeback, or if it will at all, are still matters of debate.@@@@1@18@@oe@2-2-2013
21996003@unknown@formal@none@1@S@But Wang salespeople are trying to cope with the biggest challenge any marketer can face: selling the products of a company that is on the ropes.@@@@1@26@@oe@2-2-2013
21996004@unknown@formal@none@1@S@"If your prospect is feeling risk the whole time and you're not feeling as if you're backed up by a stable company, you've lost it before you've begun," says Mary Ann Cluggish, a Wellesley, Mass., sales trainer and consultant who works with high technology companies.@@@@1@45@@oe@2-2-2013
21996005@unknown@formal@none@1@S@It can happen in any industry.@@@@1@6@@oe@2-2-2013
21996006@unknown@formal@none@1@S@Consider the difficulties faced by Audi salespeople when the car was tainted by false charges of sudden acceleration, or Exxon dealers' problems in the wake of the Valdez oil spill.@@@@1@30@@oe@2-2-2013
21996007@unknown@formal@none@1@S@Like thousands of salespeople before them, Wang's are finding ways to combat the bad news.@@@@1@15@@oe@2-2-2013
21996008@unknown@formal@none@1@S@"It's very important that we exude confidence, even though within the family we know there's a lot of hard work ahead," said Richard Miller, the Lowell, Mass., computer concern's new president, in a video message to salespeople a month after he took over.@@@@1@43@@oe@2-2-2013
21996009@unknown@formal@none@1@S@Wang got into financial trouble because of bloated overhead and overly optimistic sales forecasts.@@@@1@14@@oe@2-2-2013
21996010@unknown@formal@none@1@S@Its mainline minicomputers and word processors have lost ground to cheaper personal computers.@@@@1@13@@oe@2-2-2013
21996011@unknown@formal@none@1@S@Last year it funded its high employment by heavy borrowing, and it suffered huge losses when sales turned down instead of rising.@@@@1@22@@oe@2-2-2013
21996012@unknown@formal@none@1@S@After the company reported red ink for the fiscal third quarter, Wang's marketing department provided the sales force answers to questions such as "How could you not have known you were going to lose $55 million?" and "Is Wang still a viable company?"@@@@1@43@@oe@2-2-2013
21996013@unknown@formal@none@1@S@Salespeople try to push their products and avoid discussions of finances.@@@@1@11@@oe@2-2-2013
21996014@unknown@formal@none@1@S@Responding to such questions is "defensive," says Kenneth Olissa, Wang's vice president, marketing.@@@@1@13@@oe@2-2-2013
21996015@unknown@formal@none@1@S@"That's antithetical to the art of selling."@@@@1@7@@oe@2-2-2013
21996016@unknown@formal@none@1@S@Moreover, he notes that analyzing financial results "poses a problem for a salesman who isn't particularly familiar with a balance sheet."@@@@1@21@@oe@2-2-2013
21996017@unknown@formal@none@1@S@At one sales strategy meeting, an executive suggested ordering salespeople to become experts on the annual report.@@@@1@17@@oe@2-2-2013
21996018@unknown@formal@none@1@S@Mr. Miller vetoed that: "Even I can't understand all the footnotes," he says.@@@@1@13@@oe@2-2-2013
21996019@unknown@formal@none@1@S@Instead, he says, if the salespeople can get the customers to consider Wang's products on their merits, he or a top financial officer will try to assuage the fears about finances.@@@@1@31@@oe@2-2-2013
21996020@unknown@formal@none@1@S@Mike Metschan, a salesman in Wang's Austin, Texas, office, has a breezier method: "We tell them $3 billion companies don't go out of business.@@@@1@24@@oe@2-2-2013
21996021@unknown@formal@none@1@S@We tell them all the major companies are having financial difficulties."@@@@1@11@@oe@2-2-2013
21996022@unknown@formal@none@1@S@Numerous computer companies are having sales slumps and earnings declines, but very few have had losses comparable to Wang's or are carrying such a large debt load.@@@@1@27@@oe@2-2-2013
21996023@unknown@formal@none@1@S@Mr. Miller says that after a sharp sales slump in July and August, sales stabilized in September.@@@@1@17@@oe@2-2-2013
21996024@unknown@formal@none@1@S@Although Wang will report a loss for the first quarter ended Sept. 30 and the full fiscal year, Mr. Miller says he expects the company will return to profitability by the fourth quarter.@@@@1@33@@oe@2-2-2013
21996025@unknown@formal@none@1@S@Experts on sales technique say anyone representing a troubled company must walk a fine line.@@@@1@15@@oe@2-2-2013
21996026@unknown@formal@none@1@S@"If a salesman jeopardizes his credibility in this time of trouble, it will be a problem for the long run," says George Palmatier, a Minden, Nev., sales consultant and author of "The Marketing Edge."@@@@1@34@@oe@2-2-2013
21996027@unknown@formal@none@1@S@Still, says John Sullivan, a management recruiter with Daniel Roberts Inc. of Boston, who has held senior sales positions at Polaroid and Atari: "The customer will react to strength.@@@@1@29@@oe@2-2-2013
21996028@unknown@formal@none@1@S@Ignore the present condition.@@@@1@4@@oe@2-2-2013
21996029@unknown@formal@none@1@S@Show it's business as usual."@@@@1@5@@oe@2-2-2013
21996030@unknown@formal@none@1@S@That isn't easy.@@@@1@3@@oe@2-2-2013
21996031@unknown@formal@none@1@S@Wang's customers are data processing managers who want to be sure that their suppliers are stable, wellrun companies that will be around to fix bugs and upgrade computers for years to come.@@@@1@32@@oe@2-2-2013
21996032@unknown@formal@none@1@S@For buyers, "these are career-risking decisions," says Jean Conlin, who supervises a network of Wang computers in the admissions department at Boston University.@@@@1@23@@oe@2-2-2013
21996033@unknown@formal@none@1@S@The university is considering installing a $250,000 system to store applications electronically.@@@@1@12@@oe@2-2-2013
21996034@unknown@formal@none@1@S@"Before the really bad news, we were looking at Wang fairly seriously," she says.@@@@1@14@@oe@2-2-2013
21996035@unknown@formal@none@1@S@But "their present financial condition means I'd have a hard time convincing the vice president in charge of purchasing."@@@@1@19@@oe@2-2-2013
21996036@unknown@formal@none@1@S@Ms. Conlin adds: "At some point we'd have to ask, `How do we know that in three years you won't be in Chapter 11?'"@@@@1@24@@oe@2-2-2013
21996037@unknown@formal@none@1@S@During the past year, Wang has developed new products and a new strategy and hired a new president.@@@@1@18@@oe@2-2-2013
21996038@unknown@formal@none@1@S@Wang's overall product line is "still not as good as other vendors, but they've come a long way," says Steven Wendler, a consultant with market researcher Gartner Group, Stamford, Conn.@@@@1@30@@oe@2-2-2013
21996039@unknown@formal@none@1@S@"They were on the road to recovery in terms of customer attitudes until this bad quarter happened."@@@@1@17@@oe@2-2-2013
21996040@unknown@formal@none@1@S@The first priority for Wang's sales force is to make sure it holds on to existing customers.@@@@1@17@@oe@2-2-2013
21996041@unknown@formal@none@1@S@Wang's installed base is one of its greatest assets, and many of those customers remain extremely loyal.@@@@1@17@@oe@2-2-2013
21996042@unknown@formal@none@1@S@But even before Wang's latest financial troubles surfaced, some customers "were trying to wall off their Wang installations" so other departments wouldn't add Wang, says Chris Christiansen, a former Wang marketer who is now a market analyst with Meta Group, a market research firm in Stamford, Conn.@@@@1@47@@oe@2-2-2013
21996043@unknown@formal@none@1@S@One Wang salesman who left the company in July recalls that when he tried to sell products to Eastman Kodak, he worked "to muster support from internal allies," but "those allies became skeptical as they saw the downtrend.@@@@1@38@@oe@2-2-2013
21996044@unknown@formal@none@1@S@The more recent losses were really devastating."@@@@1@7@@oe@2-2-2013
21996045@unknown@formal@none@1@S@New customers, the source of higher commissions for salespeople and the key to Wang's long-term viability, are even tougher.@@@@1@19@@oe@2-2-2013
21996046@unknown@formal@none@1@S@Rick Lynch, a former top salesman in Wang's Boston office, referring to Wang's mainstay computer line, says: "You can't sell a VS to a new customer."@@@@1@26@@oe@2-2-2013
21996047@unknown@formal@none@1@S@Mr. Lynch left Wang this summer for Oracle Systems Inc., a software vendor.@@@@1@13@@oe@2-2-2013
21996048@unknown@formal@none@1@S@The financial problems are particularly frustrating for salespeople pushing Wang's image systems, which convert paper forms to electronic documents.@@@@1@19@@oe@2-2-2013
21996049@unknown@formal@none@1@S@Consultants say that Wang's technology is among the best available in the image market.@@@@1@14@@oe@2-2-2013
21996050@unknown@formal@none@1@S@But salespeople often found that news of Wang's problems superseded their sales efforts.@@@@1@13@@oe@2-2-2013
21996051@unknown@formal@none@1@S@William Tait, a former sales manager in Indianapolis, says that his office had all but sold a $1.5 million image system to pharmaceutical maker Eli Lilly & Co.@@@@1@28@@oe@2-2-2013
21996052@unknown@formal@none@1@S@"When they were making the decision, all hell broke loose with the finances."@@@@1@13@@oe@2-2-2013
21996053@unknown@formal@none@1@S@He says the Lilly executives told him they couldn't take the risk with Wang.@@@@1@14@@oe@2-2-2013
21996054@unknown@formal@none@1@S@Mr. Tait say he doesn't blame Lilly.@@@@1@7@@oe@2-2-2013
21996055@unknown@formal@none@1@S@Buyers have to rely on a supplier "continually upgrading and replacing the product," he says.@@@@1@15@@oe@2-2-2013
21996056@unknown@formal@none@1@S@"When a company realizes that, it's hard to go with Wang."@@@@1@11@@oe@2-2-2013
21996057@unknown@formal@none@1@S@For Mr. Tait, who says he used to earn as much as $150,000 a year at Wang, it was one more reason to quit.@@@@1@24@@oe@2-2-2013
21996058@unknown@formal@none@1@S@He is now president of Eastate Homes Inc., an Indianapolis contractor.@@@@1@11@@oe@2-2-2013
21996059@unknown@formal@none@1@S@It can be hard for a salesperson to fight off feelings of discouragement.@@@@1@13@@oe@2-2-2013
21996060@unknown@formal@none@1@S@Brian Petre, a former Wang salesman in upstate New York, says: "You have pride in your job.@@@@1@17@@oe@2-2-2013
21996061@unknown@formal@none@1@S@You think you can go out and turn things around.@@@@1@10@@oe@2-2-2013
21996062@unknown@formal@none@1@S@It's a tough thing when you can't.@@@@1@7@@oe@2-2-2013
21996063@unknown@formal@none@1@S@The reason doesn't relate to your selling skills."@@@@1@8@@oe@2-2-2013
21996064@unknown@formal@none@1@S@Discouragement feeds on itself.@@@@1@4@@oe@2-2-2013
21996065@unknown@formal@none@1@S@"The problem is, if people get down in the dumps, they stop selling," says Mike Durcan, a laid-off sales manager in Wang's Austin office.@@@@1@24@@oe@2-2-2013
21996066@unknown@formal@none@1@S@One key for salespeople is to boost their own morale.@@@@1@10@@oe@2-2-2013
21996067@unknown@formal@none@1@S@Paul Hellman, a Framingham, Mass., sales and management consultant and author of "Ready, Aim, You're Hired," says: "The bad news is, you'll be rejected more.@@@@1@25@@oe@2-2-2013
21996068@unknown@formal@none@1@S@The good news is, it's not your fault."@@@@1@8@@oe@2-2-2013
21996069@unknown@formal@none@1@S@So, he advises, make goals achievable.@@@@1@6@@oe@2-2-2013
21996070@unknown@formal@none@1@S@For instance, he suggests that salespeople making telephone calls should say to themselves: "All I want to do today is get 50 rejections."@@@@1@23@@oe@2-2-2013
21996071@unknown@formal@none@1@S@But Mr. Miller, Wang's new president, recently warned his salespeople about negativism.@@@@1@12@@oe@2-2-2013
21996072@unknown@formal@none@1@S@"Our customers watch us for the hidden message," he said.@@@@1@10@@oe@2-2-2013
21996073@unknown@formal@none@1@S@"Look a customer right in the eye and say, `I'm glad to be at Wang.@@@@1@15@@oe@2-2-2013
21997001@unknown@formal@none@1@S@Blinder International Enterprises Inc., the parent of beleaguered penny-stockbroker Blinder, Robinson & Co., said its shareholders approved a previously announced name change to Intercontinental Enterprises Inc.@@@@1@26@@oe@2-2-2013
21997002@unknown@formal@none@1@S@"The parent company is diversifying into other industries around the world," said president Meyer Blinder in explaining the name change.@@@@1@20@@oe@2-2-2013
21997003@unknown@formal@none@1@S@"Everytime we talked about Blinder International, {people} thought it was the brokerage house."@@@@1@13@@oe@2-2-2013
21997004@unknown@formal@none@1@S@Mr. Blinder said the change wasn't related to the brokerage's recent troubles, which have included sharp declines in earnings, run-ins with the securities regulators and lawsuits by former customers.@@@@1@29@@oe@2-2-2013
21997005@unknown@formal@none@1@S@The company said it expects the name change to take effect within a week.@@@@1@14@@oe@2-2-2013
21998001@unknown@formal@none@1@S@Olin Corp. said third-quarter net income rose 26% on the strength of its chemical business.@@@@1@15@@oe@2-2-2013
21998002@unknown@formal@none@1@S@Net was $24 million, or $1.15 a share, up from $19 million, or 90 cents a share, a year earlier.@@@@1@20@@oe@2-2-2013
21998003@unknown@formal@none@1@S@Sales rose 7.4% to $580 million from $540 million.@@@@1@9@@oe@2-2-2013
21998004@unknown@formal@none@1@S@Olin said its chemical segment had profit of $22 million, up from $15 million a year ago, largely because of gains in electrochemicals such as caustic soda.@@@@1@27@@oe@2-2-2013
21998005@unknown@formal@none@1@S@The company said the gains were tied to volume increases and higher prices.@@@@1@13@@oe@2-2-2013
21998006@unknown@formal@none@1@S@The market for electrochemicals include the paper, water-purification and textile industries.@@@@1@11@@oe@2-2-2013
21998007@unknown@formal@none@1@S@The chemical segment had a $6 million gain on the sale of ammonia and urea businesses, which was offset by a $6 million charge for future environmental expenditures.@@@@1@28@@oe@2-2-2013
21998008@unknown@formal@none@1@S@Profit in Olin's defense and ammunition segment rose to $8 million from $7 million.@@@@1@14@@oe@2-2-2013
21998009@unknown@formal@none@1@S@The metals segment, hurt by a strike, had break-even results, against $3 million a year ago.@@@@1@16@@oe@2-2-2013
21998010@unknown@formal@none@1@S@In the first nine months, net rose 21% to $93 million, or $4.52 a share, from $77 million, or $3.62 a share a year ago.@@@@1@25@@oe@2-2-2013
21998011@unknown@formal@none@1@S@Sales rose 13% to $1.91 billion from $1.69 billion.@@@@1@9@@oe@2-2-2013
21998012@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Olin closed at $58.50 a share, down 25 cents.@@@@1@16@@oe@2-2-2013
21999001@unknown@formal@none@1@S@GTE Corp. and MCI Communications Corp. reported strong earnings gains to record levels for the third quarter.@@@@1@17@@oe@2-2-2013
21999002@unknown@formal@none@1@S@Southwestern Bell Corp. and Cincinnati Bell posted slight declines.@@@@1@9@@oe@2-2-2013
21999003@unknown@formal@none@1@S@GTE Corp.@@@@1@2@@oe@2-2-2013
21999004@unknown@formal@none@1@S@GTE said net income rose 18%, aided by higher long-distance calling volumes and an increase in telephone lines in service.@@@@1@20@@oe@2-2-2013
21999005@unknown@formal@none@1@S@Pretax operating profit from telephone operations rose 8.2% but profits from telecommunications products and electrical products were flat.@@@@1@18@@oe@2-2-2013
21999006@unknown@formal@none@1@S@Revenues rose 8.8% to $4.35 billion from $4.0 billion.@@@@1@9@@oe@2-2-2013
21999007@unknown@formal@none@1@S@The company said the quarter included a 10% increase in local-exchange usage for long-distance calling and a 5% increase in the number of access lines in service.@@@@1@27@@oe@2-2-2013
21999008@unknown@formal@none@1@S@Earlier rate reductions in Texas and California reduced the quarter's revenue and operating profit $55 million; a year earlier, operating profit in telephone operations was reduced by a similar amount as a result of a provision for a reorganization.@@@@1@39@@oe@2-2-2013
21999009@unknown@formal@none@1@S@Revenue in the telecommunications products and services unit rose 27% to $728.8 million, but operating profit was unchanged at $26.3 million, partly because of start-up expenses.@@@@1@26@@oe@2-2-2013
21999010@unknown@formal@none@1@S@Electrical products' sales fell to $496.7 million from $504.5 million with higher world-wide lighting volume offset by lower domestic prices and the impact of weaker currencies in Europe and South America.@@@@1@31@@oe@2-2-2013
21999011@unknown@formal@none@1@S@Operating profit of $37.2 million was unchanged.@@@@1@7@@oe@2-2-2013
21999012@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, GTE rose $1.25 to $64.125.@@@@1@14@@oe@2-2-2013
21999013@unknown@formal@none@1@S@MCI Communications Corp.@@@@1@3@@oe@2-2-2013
21999014@unknown@formal@none@1@S@MCI, which stepped up efforts to sell long-distance telephone service to residential customers, reported a 59% jump in earnings.@@@@1@19@@oe@2-2-2013
21999015@unknown@formal@none@1@S@Revenue rose 23% to $1.67 billion from $1.36 billion.@@@@1@9@@oe@2-2-2013
21999016@unknown@formal@none@1@S@Operating profit grew 57% to $269 million from $171 million, while operating margins rose to 16.1% from 15.9% the previous quarter and 12.6% a year ago.@@@@1@26@@oe@2-2-2013
21999017@unknown@formal@none@1@S@Daniel Akerson, MCI chief financial officer, said the company sees further improvements in operating margins.@@@@1@15@@oe@2-2-2013
21999018@unknown@formal@none@1@S@"We think we can take it to the 18% range over next 18 to 24 months," he said.@@@@1@18@@oe@2-2-2013
21999019@unknown@formal@none@1@S@In national over-the-counter trading, MCI fell $2.625 to $42.375.@@@@1@9@@oe@2-2-2013
21999020@unknown@formal@none@1@S@Charles Schellke, an analyst with Smith Barney, Harris Upham & Co., said some investors apparently expected slightly better revenue growth.@@@@1@20@@oe@2-2-2013
21999021@unknown@formal@none@1@S@The company said that residential traffic grew faster than business traffic and attributed that to its new PrimeTime calling plan that competes with American Telephone & Telegraph's Reach Out America plan.@@@@1@31@@oe@2-2-2013
21999022@unknown@formal@none@1@S@MCI claims about 12% of the overall long-distance telephone market but just under 10% of the $23 billion residential market.@@@@1@20@@oe@2-2-2013
21999023@unknown@formal@none@1@S@It has been trying to improve its share of the residential market.@@@@1@12@@oe@2-2-2013
21999024@unknown@formal@none@1@S@The company wants its business mix to more closely match that of AT&T -- a step it says will help prevent cross subsidization.@@@@1@23@@oe@2-2-2013
21999025@unknown@formal@none@1@S@Mr. Akerson said MCI recorded "another solid cash positive quarter," its fourth in a row, but declined to comment on whether the company is considering a dividend or is planning any acquisition.@@@@1@32@@oe@2-2-2013
21999026@unknown@formal@none@1@S@The current quarter, he said, "looks fine.@@@@1@7@@oe@2-2-2013
21999027@unknown@formal@none@1@S@We think revenue will continue to grow and that we can control costs and thus improve profitability."@@@@1@17@@oe@2-2-2013
21999028@unknown@formal@none@1@S@Southwestern Bell Corp.@@@@1@3@@oe@2-2-2013
21999029@unknown@formal@none@1@S@Southwestern Bell Corp. said net dropped 8.7%, mainly the result of four extraordinary items: a franchise tax refund that its Southwestern Bell Telephone Co. unit received last year; a production shift of several Yellow Pages directories to the fourth quarter from the third; a rate refund in Missouri and a one-time adjustment to phone company revenues.@@@@1@56@@oe@2-2-2013
21999030@unknown@formal@none@1@S@Revenue slipped 1.2% to $2.21 billion from $2.23 billion.@@@@1@9@@oe@2-2-2013
21999031@unknown@formal@none@1@S@The earnings drop had been expected.@@@@1@6@@oe@2-2-2013
21999032@unknown@formal@none@1@S@Chairman Zane E. Barnes said Southwestern Bell's "businesses are healthy and are continuing to grow."@@@@1@15@@oe@2-2-2013
21999033@unknown@formal@none@1@S@The company reported a 3.1% increase in the number of access lines in service, and also said its Southwestern Bell Mobile Systems unit added 30,000 new customers, with a current total of about 333,000.@@@@1@34@@oe@2-2-2013
21999034@unknown@formal@none@1@S@Southwestern shares fell 50 cents to $55.875 in composite trading on the New York Stock Exchange.@@@@1@16@@oe@2-2-2013
21999035@unknown@formal@none@1@S@Cincinnati Bell Inc.@@@@1@3@@oe@2-2-2013
21999036@unknown@formal@none@1@S@Cincinnati Bell Inc. said net declined 1.8%.@@@@1@7@@oe@2-2-2013
21999037@unknown@formal@none@1@S@The company noted that the year-ago period was particularly strong, with an increase of nearly 70%.@@@@1@16@@oe@2-2-2013
21999038@unknown@formal@none@1@S@Revenue jumped nearly 17% to $223.3 million from $191.4 million.@@@@1@10@@oe@2-2-2013
21999039@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Cincinnati Bell fell 25 cents to $29.@@@@1@16@@oe@2-2-2013
21999040@unknown@formal@none@1@S@The company said that the number of access lines dropped slightly in the quarter, a decline attributed to seasonal fluctuations.@@@@1@20@@oe@2-2-2013
21999041@unknown@formal@none@1@S@For the year, however, access lines in service have increased 5.5%.@@@@1@11@@oe@2-2-2013
21999042@unknown@formal@none@1@S@Chairman D.H. Hibbard said the company has set a new five year goal of doubling revenues to about $1.8 billion while steadily increasing net.@@@@1@24@@oe@2-2-2013
22000001@unknown@formal@none@1@S@Rockwell International Corp.'s Tulsa unit said it signed a tentative agreement extending its contract with Boeing Co. to provide structural parts for Boeing's 747 jetliners.@@@@1@25@@oe@2-2-2013
22000002@unknown@formal@none@1@S@Rockwell said the agreement calls for it to supply 200 additional so-called shipsets for the planes.@@@@1@16@@oe@2-2-2013
22000003@unknown@formal@none@1@S@These include, among other parts, each jetliner's two major bulkheads, a pressure floor, torque box, fixed leading edges for the wings and an aft keel beam.@@@@1@26@@oe@2-2-2013
22000004@unknown@formal@none@1@S@Under the existing contract, Rockwell said, it has already delivered 793 of the shipsets to Boeing.@@@@1@16@@oe@2-2-2013
22000005@unknown@formal@none@1@S@Rockwell, based in El Segundo, Calif., is an aerospace, electronics, automotive and graphics concern.@@@@1@14@@oe@2-2-2013
22001001@unknown@formal@none@1@S@Frank Carlucci III was named to this telecommunications company's board, filling the vacancy created by the death of William Sobey last May.@@@@1@22@@oe@2-2-2013
22001002@unknown@formal@none@1@S@Mr. Carlucci, 59 years old, served as defense secretary in the Reagan administration.@@@@1@13@@oe@2-2-2013
22001003@unknown@formal@none@1@S@In January, he accepted the position of vice chairman of Carlyle Group, a merchant banking concern.@@@@1@16@@oe@2-2-2013
22002001@unknown@formal@none@1@S@SHEARSON LEHMAN HUTTON Inc.@@@@1@4@@oe@2-2-2013
22002002@unknown@formal@none@1@S@Thomas E. Meador, 42 years old, was named president and chief operating officer of Balcor Co., a Skokie, Ill., subsidiary of this New York investment banking firm.@@@@1@27@@oe@2-2-2013
22002003@unknown@formal@none@1@S@Balcor, which has interests in real estate, said the position is newly created.@@@@1@13@@oe@2-2-2013
22002004@unknown@formal@none@1@S@Mr. Meador had been executive vice president of Balcor.@@@@1@9@@oe@2-2-2013
22002005@unknown@formal@none@1@S@In addition to his previous real-estate investment and asset-management duties, Mr. Meador takes responsibility for development and property management.@@@@1@19@@oe@2-2-2013
22002006@unknown@formal@none@1@S@Those duties had been held by Van Pell, 44, who resigned as an executive vice president.@@@@1@16@@oe@2-2-2013
22002007@unknown@formal@none@1@S@Shearson is about 60%-held by American Express Co.@@@@1@8@@oe@2-2-2013
22003001@unknown@formal@none@1@S@Great American Bank, citing depressed Arizona real estate prices, posted a third-quarter loss of $59.4 million, or $2.48 a share.@@@@1@20@@oe@2-2-2013
22003002@unknown@formal@none@1@S@A year earlier, the savings bank had earnings of $8.1 million, or 33 cents a share.@@@@1@16@@oe@2-2-2013
22003003@unknown@formal@none@1@S@For the nine months, it had a loss of $58.3 million, or $2.44 a share, after earnings of $29.5 million, or $1.20 a share, in the 1988 period.@@@@1@28@@oe@2-2-2013
22003004@unknown@formal@none@1@S@Great American said it increased its loan-loss reserves by $93 million after reviewing its loan portfolio, raising its total loan and real estate reserves to $217 million.@@@@1@27@@oe@2-2-2013
22003005@unknown@formal@none@1@S@Before the loan-loss addition, it said, it had operating profit of $10 million for the quarter.@@@@1@16@@oe@2-2-2013
22003006@unknown@formal@none@1@S@The move followed a round of similar increases by other lenders against Arizona real estate loans, reflecting a continuing decline in that market.@@@@1@23@@oe@2-2-2013
22003007@unknown@formal@none@1@S@In addition to the increased reserve, the savings bank took a special charge of $5 million representing general and administrative expenses from staff reductions and other matters, and it posted a $7.6 million reduction in expected mortgage servicing fees, reflecting the fact that more borrowers are prepaying their mortgages.@@@@1@49@@oe@2-2-2013
22004001@unknown@formal@none@1@S@Arbitragers weren't the only big losers in the collapse of UAL Corp. stock.@@@@1@13@@oe@2-2-2013
22004002@unknown@formal@none@1@S@Look at what happened to UAL's chairman, Stephen M. Wolf, and its chief financial officer, John C. Pope.@@@@1@18@@oe@2-2-2013
22004003@unknown@formal@none@1@S@On a day some United Airlines employees wanted Mr. Wolf fired and takeover stock speculators wanted his scalp, Messrs. Wolf and Pope saw their prospective personal fortunes continue to plummet as shares of UAL, United's parent company, dived $24.875 on the Big Board to close at $198.@@@@1@47@@oe@2-2-2013
22004004@unknown@formal@none@1@S@Including Monday's plunge, that has given the two executives paper losses of $49.5 million, based on what they would have realized had the pilots and management-led buy-out of UAL gone through at $300 a share.@@@@1@35@@oe@2-2-2013
22004005@unknown@formal@none@1@S@When bank financing for the buy-out collapsed last week, so did UAL's stock.@@@@1@13@@oe@2-2-2013
22004006@unknown@formal@none@1@S@Even if the banks resurrect a financing package at $250 a share, the two executives would still get about $25 million less than they stood to gain in the initial transaction.@@@@1@31@@oe@2-2-2013
22004007@unknown@formal@none@1@S@Mr. Wolf owns 75,000 UAL shares and has options to buy another 250,000 at $83.3125 each.@@@@1@16@@oe@2-2-2013
22004008@unknown@formal@none@1@S@In the $300-a-share buyout, that totaled about $76.7 million.@@@@1@9@@oe@2-2-2013
22004009@unknown@formal@none@1@S@By yesterday's close of trading, it was good for a paltry $43.5 million.@@@@1@13@@oe@2-2-2013
22004010@unknown@formal@none@1@S@Of course, Mr. Wolf, 48 years old, has some savings.@@@@1@10@@oe@2-2-2013
22004011@unknown@formal@none@1@S@He left his last two jobs at Republic Airlines and Flying Tiger with combined stock-option gains of about $22 million, and UAL gave him a $15 million bonus when it hired him.@@@@1@32@@oe@2-2-2013
22004012@unknown@formal@none@1@S@His 1988 salary was $575,000, with a $575,000 bonus.@@@@1@9@@oe@2-2-2013
22004013@unknown@formal@none@1@S@The 40-year old Mr. Pope hasn't changed jobs enough -- at least the right ones -- to stash away that kind of money.@@@@1@23@@oe@2-2-2013
22004014@unknown@formal@none@1@S@United paid him a $375,000 bonus to lure him away from American Airlines, and he was paid a salary of $342,122 last year with a $280,000 bonus.@@@@1@27@@oe@2-2-2013
22004015@unknown@formal@none@1@S@Mr. Pope owns 10,000 UAL shares and has options to buy another 150,000 at $69 each.@@@@1@16@@oe@2-2-2013
22004016@unknown@formal@none@1@S@That came to a combined $37.7 million under the $300-a-share buy-out, but just $21.3 million at yesterday's close.@@@@1@18@@oe@2-2-2013
22004017@unknown@formal@none@1@S@Of the combined $114.4 million the two men were scheduled to reap under the buy-out, they agreed to invest in the buy-out just $15 million, angering many of the thousands of workers asked to make pay concessions so the buy-out would be a success.@@@@1@44@@oe@2-2-2013
22004018@unknown@formal@none@1@S@United's directors voted themselves, and their spouses, lifetime access to the Friendly Skies -- free first-class travel, and $20,000 a year for life as well.@@@@1@25@@oe@2-2-2013
22004019@unknown@formal@none@1@S@Conceivably, in a scaled-back buy-out, they could be bumped back to coach seats for life.@@@@1@15@@oe@2-2-2013
22005001@unknown@formal@none@1@S@Thomas H. Johnson, president of the Coatedboard division of Mead Corp., was named president of Manville Forest Products Corp., a Manville unit, and senior vice president of Manville Corp.@@@@1@29@@oe@2-2-2013
22005002@unknown@formal@none@1@S@Mr. Johnson succeeds Harry W. Sherman, who resigned to pursue other interests, in both positions.@@@@1@15@@oe@2-2-2013
22005003@unknown@formal@none@1@S@Manville is a building and forest products concern.@@@@1@8@@oe@2-2-2013
22006001@unknown@formal@none@1@S@US Facilities Corp. said Robert J. Percival agreed to step down as vice chairman of the insurance holding company.@@@@1@19@@oe@2-2-2013
22006002@unknown@formal@none@1@S@"There was a difference of opinion as to the future direction of the company," a spokeswoman said.@@@@1@17@@oe@2-2-2013
22006003@unknown@formal@none@1@S@Mr. Percival declined to comment.@@@@1@5@@oe@2-2-2013
22006004@unknown@formal@none@1@S@In a statement, US Facilities said Mr. Percival's employment contract calls for him to act as a consultant to the company for two years.@@@@1@24@@oe@2-2-2013
22006005@unknown@formal@none@1@S@He will also remain a director, US Facilities said, but won't serve on any board committees.@@@@1@16@@oe@2-2-2013
22006006@unknown@formal@none@1@S@Mr. Percival will be succeeded on an interim basis by George Kadonada, US Facilities chairman and president.@@@@1@17@@oe@2-2-2013
22006007@unknown@formal@none@1@S@In the same statement, US Facilities also said it had bought back 112,000 of its common shares in a private transaction.@@@@1@21@@oe@2-2-2013
22006008@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
22006009@unknown@formal@none@1@S@The buy-back represents about 3% of the company's shares, based on the 3.7 million shares outstanding as of Sept. 30.@@@@1@20@@oe@2-2-2013
22006010@unknown@formal@none@1@S@In national over-the-counter trading yesterday, US Facilities closed at $3.625, unchanged.@@@@1@11@@oe@2-2-2013
22007001@unknown@formal@none@1@S@Three leading drug companies reported robust third-quarter earnings, bolstered by strong sales of newer, big-selling prescriptions drugs that provide hefty profit margins.@@@@1@22@@oe@2-2-2013
22007002@unknown@formal@none@1@S@Merck & Co. reported a 25% increase in earnings; Warner-Lambert Co.'s profit rose 22% and Eli Lilly & Co.'s net income rose 24%.@@@@1@23@@oe@2-2-2013
22007003@unknown@formal@none@1@S@The results were in line with analysts' expectations.@@@@1@8@@oe@2-2-2013
22007004@unknown@formal@none@1@S@Merck & Co.@@@@1@3@@oe@2-2-2013
22007005@unknown@formal@none@1@S@Merck, Rahway, N.J., continued to lead the industry with a strong sales performance in the human and animal health-products segment.@@@@1@20@@oe@2-2-2013
22007006@unknown@formal@none@1@S@A stronger U.S. dollar reduced third-quarter and first-nine-month sales growth 2% and 3%, respectively.@@@@1@14@@oe@2-2-2013
22007007@unknown@formal@none@1@S@International sales accounted for 47% of total company sales for the nine months, compared with 50% a year earlier.@@@@1@19@@oe@2-2-2013
22007008@unknown@formal@none@1@S@Sales for the quarter rose to $1.63 billion from $1.47 billion.@@@@1@11@@oe@2-2-2013
22007009@unknown@formal@none@1@S@Mevacor, Merck's new cholesterol-lowering drug, had higher sales than any other prescription medicine has ever achieved in the U.S. in the year following introduction, the company said.@@@@1@27@@oe@2-2-2013
22007010@unknown@formal@none@1@S@The drug was introduced in West Germany this year.@@@@1@9@@oe@2-2-2013
22007011@unknown@formal@none@1@S@Intense competition, however, led to unit sales declines for a group of Merck's established human and animal-health products, including Aldomet and Indocin.@@@@1@22@@oe@2-2-2013
22007012@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Merck shares closed at $75.25, up 50 cents.@@@@1@16@@oe@2-2-2013
22007013@unknown@formal@none@1@S@Warner-Lambert Co.@@@@1@2@@oe@2-2-2013
22007014@unknown@formal@none@1@S@Warner-Lambert, Morris Plains, N.J., reported sales that were a record for any quarter and the eighth quarter in a row of 20% or more per-share earnings growth.@@@@1@27@@oe@2-2-2013
22007015@unknown@formal@none@1@S@Spurred by growth in world-wide sales of the company's prescription drugs, Warner-Lambert said 1989 will be the best year in its history, with per-share earnings expected to increase more than 20% to about $6.10.@@@@1@34@@oe@2-2-2013
22007016@unknown@formal@none@1@S@Sales for the quarter rose to $1.11 billion from $1.03 billion.@@@@1@11@@oe@2-2-2013
22007017@unknown@formal@none@1@S@Prescription-drug world-wide sales rose 9% in the quarter to $340 million; U.S. sales rose 15%.@@@@1@15@@oe@2-2-2013
22007018@unknown@formal@none@1@S@The segment's growth was led by sales of the cardiovascular drugs Lopid, a lipid regulator, and Dilzem, a calcium channel blocker.@@@@1@21@@oe@2-2-2013
22007019@unknown@formal@none@1@S@World-wide sales of Warner-Lambert's non-prescription health-care products, such as Halls cough tablets, Rolaids antacid, and Lubriderm skin lotion, increased 3% to $362 million in the third quarter; U.S. sales rose 5%.@@@@1@31@@oe@2-2-2013
22007020@unknown@formal@none@1@S@Confectionery products sales also had strong growth in the quarter.@@@@1@10@@oe@2-2-2013
22007021@unknown@formal@none@1@S@World-wide sales of Trident gum, Certs breath mints, and Clorets gum and breath mints, increased 12% to $277 million.@@@@1@19@@oe@2-2-2013
22007022@unknown@formal@none@1@S@Warner-Lambert shares closed at $109.50 a share, up $1.50, in Big Board composite trading yesterday.@@@@1@15@@oe@2-2-2013
22007023@unknown@formal@none@1@S@Eli Lilly & Co.@@@@1@4@@oe@2-2-2013
22007024@unknown@formal@none@1@S@Lilly attributed record third-quarter and nine-month results to world-wide gains for pharmaceuticals, medical instruments and plant-science products despite poor exchange rates for the dollar that slowed sales abroad.@@@@1@28@@oe@2-2-2013
22007025@unknown@formal@none@1@S@Earnings continued to pace sales because of a lower tax rate, profit from the renegotiation of the debt instrument received from Faberge Inc. in connection with Lilly's sale of Elizabeth Arden Inc. in 1987, and net proceeds from the settlement of patent litigation at Lilly's Hybritech Inc. unit.@@@@1@48@@oe@2-2-2013
22007026@unknown@formal@none@1@S@Third-quarter sales of the Indianapolis, Ind., company rose 11% to $1.045 billion from $940.6 million.@@@@1@15@@oe@2-2-2013
22007027@unknown@formal@none@1@S@Nine-month sales grew 12% to $3.39 billion from $3.03 billion a year earlier.@@@@1@13@@oe@2-2-2013
22007028@unknown@formal@none@1@S@Sales of Prozac, an anti-depressant, led drug-sales increases.@@@@1@8@@oe@2-2-2013
22007029@unknown@formal@none@1@S@Higher sales of pesticides and other plant-science products more than offset a slight decline in the sales of animal-health products to fuel the increase in world-wide agricultural product sales, Lilly said.@@@@1@31@@oe@2-2-2013
22007030@unknown@formal@none@1@S@Advanced Cardiovascular Systems Inc. and Cardiac Pacemakers Inc. units led growth in the medical-instrument systems division.@@@@1@16@@oe@2-2-2013
22007031@unknown@formal@none@1@S@Lilly shares closed yesterday in composite trading on the Big Board at $62.25, down 12.5 cents.@@@@1@16@@oe@2-2-2013
22008001@unknown@formal@none@1@S@Reuben Mark, chairman of Colgate-Palmolive Co., said he is "comfortable" with analysts' estimates that third-quarter earnings rose to between 95 cents and $1.05 a share.@@@@1@25@@oe@2-2-2013
22008002@unknown@formal@none@1@S@That compares with per-share earnings from continuing operations of 69 cents the year earlier; including discontinued operations, per-share was 88 cents a year ago.@@@@1@24@@oe@2-2-2013
22008003@unknown@formal@none@1@S@The per-share estimates mean the consumer-products company's net income, increased to between $69.5 million and $76 million, from $47.1 million the year-before period.@@@@1@23@@oe@2-2-2013
22008004@unknown@formal@none@1@S@Analysts estimate Colgate's world-wide third-quarter sales rose about 8% to $1.29 billion.@@@@1@12@@oe@2-2-2013
22008005@unknown@formal@none@1@S@Mr. Mark attributed the earnings growth to strong sales in Latin America, Asia and Europe.@@@@1@15@@oe@2-2-2013
22008006@unknown@formal@none@1@S@Results were also bolstered by "a very meaningful" increase in operating profit by Colgate's U.S. business, Mr. Mark said.@@@@1@19@@oe@2-2-2013
22008007@unknown@formal@none@1@S@Operating profit at Colgate's U.S. household products and personal-care businesses jumped 25% in the quarter, Mr. Mark added.@@@@1@18@@oe@2-2-2013
22008008@unknown@formal@none@1@S@He said the improvement was a result of cost savings achieved by consolidating manufacturing operations, blending two sales organizations and focusing more carefully the company's promotional activities.@@@@1@27@@oe@2-2-2013
22008009@unknown@formal@none@1@S@The estimated improvement in Colgate's U.S. operations took some analysts by surprise.@@@@1@12@@oe@2-2-2013
22008010@unknown@formal@none@1@S@Colgate's household products business, which includes such brands as Fab laundry detergent and Ajax cleanser, has been a weak performer.@@@@1@20@@oe@2-2-2013
22008011@unknown@formal@none@1@S@Analysts estimate Colgate's sales of household products in the U.S. were flat for the quarter, and they estimated operating margins at only 1% to 3%.@@@@1@25@@oe@2-2-2013
22008012@unknown@formal@none@1@S@"If you could say their business in the U.S. was mediocre, but great everywhere else, that would be fine," says Bonita Austin, an analyst with Wertheim Schroder & Co.@@@@1@29@@oe@2-2-2013
22008013@unknown@formal@none@1@S@"But it's not mediocre, it's a real problem."@@@@1@8@@oe@2-2-2013
22008014@unknown@formal@none@1@S@Mr. Mark conceded that Colgate's domestic business, apart from its highly profitable Hill's Pet Products unit, has lagged.@@@@1@18@@oe@2-2-2013
22008015@unknown@formal@none@1@S@"We've done a lot to improve {U.S.} results, and a lot more will be done," Mr. Mark said.@@@@1@18@@oe@2-2-2013
22008016@unknown@formal@none@1@S@"Improving profitability of U.S. operations is an extremely high priority in the company."@@@@1@13@@oe@2-2-2013
22008017@unknown@formal@none@1@S@To focus on its global consumer-products business, Colgate sold its Kendall health-care business in 1988.@@@@1@15@@oe@2-2-2013
22009001@unknown@formal@none@1@S@H. Anthony Ittleson was elected a director of this company, which primarily has interests in radio and television stations, increasing the number of seats to five.@@@@1@26@@oe@2-2-2013
22009002@unknown@formal@none@1@S@Osborn also operates Muzak franchises, entertainment properties and small cable-television systems.@@@@1@11@@oe@2-2-2013
22009003@unknown@formal@none@1@S@Mr. Ittleson is executive, special projects, at CIT Group Holdings Inc., which is controlled by Manufacturers Hanover Corp.@@@@1@18@@oe@2-2-2013
22010001@unknown@formal@none@1@S@The Boston Globe says its newly redesigned pages have a "crisper" look with revamped fixtures aimed at making the paper "more consistent" and "easier to read."@@@@1@26@@oe@2-2-2013
22010002@unknown@formal@none@1@S@Maybe so -- if you can find where your favorite writer went.@@@@1@12@@oe@2-2-2013
22010003@unknown@formal@none@1@S@Beantown scribes, who spare no invective when taking on local luminaries such as Michael "Pee Wee" Dukakis, or New England Patriots Coach Raymond "Rev. Ray" Berry, yesterday poured ridicule on new drawings of Globe columnists that replaced old photos in the revamped pages this week.@@@@1@45@@oe@2-2-2013
22010004@unknown@formal@none@1@S@By late last night, Globe Managing Editor Thomas Mulvoy, bending to the will of his troops, scrapped the new drawings.@@@@1@20@@oe@2-2-2013
22010005@unknown@formal@none@1@S@For a few days at least, he says, no pictures or drawings of any kind will adorn the columns.@@@@1@19@@oe@2-2-2013
22010006@unknown@formal@none@1@S@Trouble was, nobody thought they looked right.@@@@1@7@@oe@2-2-2013
22010007@unknown@formal@none@1@S@Globe columnist Mike Barnicle -- in the second attack on his employer in as many weeks -- averred that his shadowy countenance was so bad, it looked "like a face you'd find on a bottle of miracle elixir that promises to do away with diarrhea in our lifetime."@@@@1@48@@oe@2-2-2013
22010008@unknown@formal@none@1@S@Mr. Barnicle reminded readers that he still hasn't forgiven Globe management for questioning a $20 expense chit he submitted for parking his car while chasing a story.@@@@1@27@@oe@2-2-2013
22010009@unknown@formal@none@1@S@"I thought {the drawing} a cross between someone you'd spot whipping open his trench coat . . . or a guy who boasted he'd been Charles Manson's roommate for the last 19 years," he said.@@@@1@35@@oe@2-2-2013
22010010@unknown@formal@none@1@S@Mr. Barnicle was hardly kinder to the renderings of colleagues Michael Madden ("appears to be a pervert"), Will McDonough ("looks as if he drove for Abe Lincoln") or Bella English, whose "little girl now screams hysterically every time she sees a newspaper."@@@@1@42@@oe@2-2-2013
22010011@unknown@formal@none@1@S@Lynn Staley, the Globe's assistant managing editor for design, acknowledges that the visages were "on the low end of the likeness spectrum."@@@@1@22@@oe@2-2-2013
22010012@unknown@formal@none@1@S@Rival Boston Herald columnist Howie Carr, who usually rails at Statehouse "hacks" and nepotism, argued that the new drawings were designed to hide Mr. Madden's "rapidly growing forehead" and the facial defects of "chinless" Dan Shaughnessy, a Globe sports columnist.@@@@1@40@@oe@2-2-2013
22010013@unknown@formal@none@1@S@"But think of the money you, the reader, will save on Halloween," said Mr. Barnicle.@@@@1@15@@oe@2-2-2013
22010014@unknown@formal@none@1@S@"Instead of buying masks for your kids, just cut out the columnists' pictures. . . .@@@@1@16@@oe@2-2-2013
22011001@unknown@formal@none@1@S@Deeply ingrained in both the book review "Kissing Nature Good-bye" by Stephen MacDonald (Leisure & Arts, Sept. 27) and the books reviewed is the assumption that global warming is entirely a result of human activity.@@@@1@35@@oe@2-2-2013
22011002@unknown@formal@none@1@S@Is such a view justified?@@@@1@5@@oe@2-2-2013
22011003@unknown@formal@none@1@S@In the absence of humans, would the Earth enjoy a constant climate over the long term?@@@@1@16@@oe@2-2-2013
22011004@unknown@formal@none@1@S@Clearly not.@@@@1@2@@oe@2-2-2013
22011005@unknown@formal@none@1@S@About 20,000 years ago the last ice age ended.@@@@1@9@@oe@2-2-2013
22011006@unknown@formal@none@1@S@Enormous ice sheets retreated from the face of North America, northern Europe and Asia.@@@@1@14@@oe@2-2-2013
22011007@unknown@formal@none@1@S@This global warming must have been entirely natural -- nobody would blame it on a few hundred thousand hunter-gatherers hunting mammoths and scratching around in caves.@@@@1@26@@oe@2-2-2013
22011008@unknown@formal@none@1@S@Furthermore, no bell has yet rung to announce the end of this immense episode of natural global warming.@@@@1@18@@oe@2-2-2013
22011009@unknown@formal@none@1@S@It is probably continuing and may well account for most of, or all of, present-day global warming.@@@@1@17@@oe@2-2-2013
22011010@unknown@formal@none@1@S@I bow to no one in my regard for our terrestrial heritage, but if we are serious about global warming we must look at the big picture and not allow the Dominant Culture to lock us into the capitalist-exploiters-greedy-American-consumers-global- warming scenario as the sole model for discussion.@@@@1@47@@oe@2-2-2013
22011011@unknown@formal@none@1@S@Jocelyn Tomkin Astronomy Department University of@@@@1@6@@oe@2-2-2013
22012001@unknown@formal@none@1@S@The Internal Revenue Service plans to restructure itself more like a private corporation.@@@@1@13@@oe@2-2-2013
22012002@unknown@formal@none@1@S@In addition, the tax-collecting agency says that it will take the unusual step of looking to the private sector to fill two new high-level positions to guide the 120,000-employee agency: a comptroller to oversee daily finances and a chief information officer to update the information system, which includes probably the largest computer data base in the world.@@@@1@57@@oe@2-2-2013
22012003@unknown@formal@none@1@S@The IRS also said that it would create the position of chief financial officer, who will be hired from within the agency.@@@@1@22@@oe@2-2-2013
22012004@unknown@formal@none@1@S@IRS Commissioner Fred T. Goldberg said the changes are intended to bring "accountability" to the agency, which has an annual budget of more than $5 billion and collects about $1 trillion a year.@@@@1@33@@oe@2-2-2013
22012005@unknown@formal@none@1@S@"My assessment and everyone's assessment is that we do not have the kinds of information that let us responsibly and effectively formulate and execute our budget," Mr. Goldberg said.@@@@1@29@@oe@2-2-2013
22012006@unknown@formal@none@1@S@"And we don't have internal controls and discipline that we need to have to spend $5 billion properly."@@@@1@18@@oe@2-2-2013
22012007@unknown@formal@none@1@S@Mr. Goldberg, who took over as head of the IRS in July, has been disturbed by what he considers the inefficiency, waste and lack of coordination among the branches of the vast federal agency.@@@@1@34@@oe@2-2-2013
22012008@unknown@formal@none@1@S@The IRS operates on a computer system designed in 1961, which it has been trying to modernize for years.@@@@1@19@@oe@2-2-2013
22012009@unknown@formal@none@1@S@And the agency, which operated throughout fiscal 1989 with a $360 million budget shortfall, has been under a hiring freeze since last fall.@@@@1@23@@oe@2-2-2013
22012010@unknown@formal@none@1@S@The new commissioner says that closer scrutiny of how the agency uses its resources will go a long way toward enhancing its ability to collect more tax revenue.@@@@1@28@@oe@2-2-2013
22012011@unknown@formal@none@1@S@"I think that you will see a significant improvement in the budget formulation and execution process which, in turn, I believe will result in a significant increase in revenue," he said.@@@@1@31@@oe@2-2-2013
22012012@unknown@formal@none@1@S@The IRS hopes to fill the new positions soon.@@@@1@9@@oe@2-2-2013
22012013@unknown@formal@none@1@S@Customarily, it would appoint career civil servants from within the agency, but Mr. Goldberg said he plans to "scour the world" for the chief information officer and the comptroller.@@@@1@29@@oe@2-2-2013
22012014@unknown@formal@none@1@S@Although the jobs will probably pay between $70,000 and $80,000 a year, IRS officials are confident that they can attract top-notch candidates from the private sector.@@@@1@26@@oe@2-2-2013
22012015@unknown@formal@none@1@S@"You're telling someone they can spend the next three or four or five or six years of their life bringing about the most difficult and costly modernization of an information system on the civil side ever," Mr. Goldberg said.@@@@1@39@@oe@2-2-2013
22012016@unknown@formal@none@1@S@"On the comptroller side, you're developing and making work financial controls governing a $6 billion budget.@@@@1@16@@oe@2-2-2013
22013001@unknown@formal@none@1@S@When Maj. Moises Giroldi, the leader of the abortive coup in Panama, was buried, his body bore several gunshot wounds, a cracked skull and broken legs and ribs.@@@@1@28@@oe@2-2-2013
22013002@unknown@formal@none@1@S@They were the signature of his adversary, Panamanian leader Manuel Antonio Noriega.@@@@1@12@@oe@2-2-2013
22013003@unknown@formal@none@1@S@The rebel officer's slow and painful death, at the headquarters of Panama's Battalion-2000 squad, was personally supervised by Gen. Noriega, says a U.S. official with access to intelligence reports.@@@@1@29@@oe@2-2-2013
22013004@unknown@formal@none@1@S@Leaping into rages, sinking into bouts of drunkenness and mistrust, Mr. Noriega has put to death some 70 of his troops involved in the coup, according to U.S. officials monitoring crematoriums and funeral parlors in Panama City.@@@@1@37@@oe@2-2-2013
22013005@unknown@formal@none@1@S@He is now changing the place he sleeps every night, sometimes more than once a night.@@@@1@16@@oe@2-2-2013
22013006@unknown@formal@none@1@S@His meals are most often prepared by women he trusts -- his full-time mistress, Vicky Amado, and her mother, Norma.@@@@1@20@@oe@2-2-2013
22013007@unknown@formal@none@1@S@And he is collecting the names of those who telephoned the coup-makers to congratulate them during their brief time in control of his headquarters.@@@@1@24@@oe@2-2-2013
22013008@unknown@formal@none@1@S@More enemies to be dealt with.@@@@1@6@@oe@2-2-2013
22013009@unknown@formal@none@1@S@In the two weeks since the rebellion, which the U.S. hesitantly backed, Mr. Noriega has been at his most brutal-and efficient-in maintaining power.@@@@1@23@@oe@2-2-2013
22013010@unknown@formal@none@1@S@Yet, while the failed coup is a major U.S. foreign policy embarrassment, it is merely the latest chapter in a byzantine relationship between Mr. Noriega and Washington that stretches back three decades.@@@@1@32@@oe@2-2-2013
22013011@unknown@formal@none@1@S@America's war on the dictator over the past two years, following his indictment on drug charges in February 1988, is the legacy of that relationship.@@@@1@25@@oe@2-2-2013
22013012@unknown@formal@none@1@S@Before American foreign policy set out to destroy Noriega, it helped create him out of the crucible of Panama's long history of conspirators and pirates.@@@@1@25@@oe@2-2-2013
22013013@unknown@formal@none@1@S@For most of the past 30 years, the marriage was one of convenience.@@@@1@13@@oe@2-2-2013
22013014@unknown@formal@none@1@S@In 1960, for example, when Mr. Noriega was both a cadet at an elite military academy in Peru and a spy-in-training for the U.S. Defense Intelligence Agency, he was detained by Lima authorities for allegedly raping and savagely beating a prostitute, according to a U.S. Embassy cable from that period.@@@@1@50@@oe@2-2-2013
22013015@unknown@formal@none@1@S@The woman had nearly died.@@@@1@5@@oe@2-2-2013
22013016@unknown@formal@none@1@S@But U.S. intelligence, rather than rein in or cut loose its new spy, merely filed the report away.@@@@1@18@@oe@2-2-2013
22013017@unknown@formal@none@1@S@Mr. Noriega's tips on emerging leftists at his school were deemed more important to U.S. interests.@@@@1@16@@oe@2-2-2013
22013018@unknown@formal@none@1@S@From that point on, the U.S. would make a practice of overlooking the Panamanian's misadventures.@@@@1@15@@oe@2-2-2013
22013019@unknown@formal@none@1@S@The U.S. has befriended and later turned against many dictators, but none quite so resourceful.@@@@1@15@@oe@2-2-2013
22013020@unknown@formal@none@1@S@The 55-year-old Mr. Noriega isn't as smooth as the shah of Iran, as well-born as Nicaragua's Anastasio Somoza, as imperial as Ferdinand Marcos of the Philippines or as bloody as Haiti's Baby Doc Duvalier.@@@@1@34@@oe@2-2-2013
22013021@unknown@formal@none@1@S@Yet he has proved more resilient than any of them.@@@@1@10@@oe@2-2-2013
22013022@unknown@formal@none@1@S@And out of necessity: The U.S. can make mistakes and still hope to remove him from power, but a single error on his part could cost him his life.@@@@1@29@@oe@2-2-2013
22013023@unknown@formal@none@1@S@"The U.S. underestimated Noriega all along," says Ambler Moss, a former Ambassador to Panama.@@@@1@14@@oe@2-2-2013
22013024@unknown@formal@none@1@S@"He has mastered the art of survival."@@@@1@7@@oe@2-2-2013
22013025@unknown@formal@none@1@S@In keeping with America's long history of propping up Mr. Noriega, recent U.S. actions have extended rather than shortened his survival.@@@@1@21@@oe@2-2-2013
22013026@unknown@formal@none@1@S@Mr. Noriega might have fallen of his own weight in 1988 because of Panama's dire economic situation, says Mr. Moss, but increasing external pressure has only given him additional excuses for repression, and a scapegoat for his own mismanagement.@@@@1@39@@oe@2-2-2013
22013027@unknown@formal@none@1@S@"If the U.S. had sat back and done nothing, he might not have made it through 1988," Mr. Moss contends.@@@@1@20@@oe@2-2-2013
22013028@unknown@formal@none@1@S@Perhaps most important, Mr. Noriega's allies have intervened to encourage -- in some cases, to demand -- that the dictator maintain his grip of the throne.@@@@1@26@@oe@2-2-2013
22013029@unknown@formal@none@1@S@One Colombian drug boss, upon hearing in 1987 that Gen. Noriega was negotiating with the U.S. to abandon his command for a comfortable exile, sent him a hand-sized mahogany coffin engraved with his name.@@@@1@34@@oe@2-2-2013
22013030@unknown@formal@none@1@S@"He is cornered," says the Rev. Fernando Guardia, who has led Catholic Church opposition against Noriega.@@@@1@16@@oe@2-2-2013
22013031@unknown@formal@none@1@S@"The Americans have left him without a way out.@@@@1@9@@oe@2-2-2013
22013032@unknown@formal@none@1@S@It is easy to fight when you don't have any other option."@@@@1@12@@oe@2-2-2013
22013033@unknown@formal@none@1@S@His chief advantage in the fight: his intimate knowledge of American ways and weaknesses.@@@@1@14@@oe@2-2-2013
22013034@unknown@formal@none@1@S@Mr. Noriega often tells friends that patience is the best weapon against the gringos, who have a short attention span and little stomach for lasting confrontation.@@@@1@26@@oe@2-2-2013
22013035@unknown@formal@none@1@S@The U.S. discovered the young Tony Noriega in late 1959, when he was in his second year at the Chorrillos Military Academy in Lima, according to former U.S. intelligence officials.@@@@1@30@@oe@2-2-2013
22013036@unknown@formal@none@1@S@The contact occurred through Mr. Noriega's half-brother, a Panamanian diplomat based in Peru named Luis Carlos Noriega Hurtado.@@@@1@18@@oe@2-2-2013
22013037@unknown@formal@none@1@S@Luis Carlos, knowing that helping the Americans could advance the career of any Panamanian officer, relayed Tony's reports on the leftist tendencies he observed among his fellow students and, more important, among his officers and instructors.@@@@1@36@@oe@2-2-2013
22013038@unknown@formal@none@1@S@A spy was born.@@@@1@4@@oe@2-2-2013
22013039@unknown@formal@none@1@S@It was a heady experience for the pockmarked and slightly built Mr. Noriega, who was known to his friends as Cara la Pina -- pineapple face.@@@@1@26@@oe@2-2-2013
22013040@unknown@formal@none@1@S@Born the illegitimate son of his father's maid, he was raised on the mean streets of the central market district of Panama City.@@@@1@23@@oe@2-2-2013
22013041@unknown@formal@none@1@S@Tony was four years older than most of his fellow cadets, and gained admission to the academy because his brother had falsified his birth certificate.@@@@1@25@@oe@2-2-2013
22013042@unknown@formal@none@1@S@He considered himself intellectually superior to his Peruvian peers, many of whom were wayward sons sent by their well-off families to the highly disciplined, French-modeled academy as a sort of reform school.@@@@1@32@@oe@2-2-2013
22013043@unknown@formal@none@1@S@In his peaked military cap and neatly pressed, French-made uniform, Noriega felt more respected and powerful than ever in his underprivileged life, friends from the period say.@@@@1@27@@oe@2-2-2013
22013044@unknown@formal@none@1@S@"He had an elegant uniform with gold buttons in a country where there was a cult of militarism, where officers were the elite with special privileges," recalls Darien Ayala, a fellow student in Peru and a lifelong friend.@@@@1@38@@oe@2-2-2013
22013045@unknown@formal@none@1@S@Mr. Noriega's relationship to American intelligence agencies became contractual in either 1966 or 1967, intelligence officials say.@@@@1@17@@oe@2-2-2013
22013046@unknown@formal@none@1@S@His commanding officer at the Chiriqui Province garrison, Major Omar Torrijos, gave him an intriguing assignment: Mr. Noriega would organize the province's first intelligence service.@@@@1@25@@oe@2-2-2013
22013047@unknown@formal@none@1@S@The spy network would serve two clients: the Panamanian government, by monitoring political opponents in the region, and the U.S., by tracking the growing Communist influence in the unions organized at United Fruit Co.'s banana plantations in Bocas del Toros and Puerto Armuelles.@@@@1@43@@oe@2-2-2013
22013048@unknown@formal@none@1@S@United Fruit was one of the two largest contributors to Panama's national income.@@@@1@13@@oe@2-2-2013
22013049@unknown@formal@none@1@S@Satisfying its interests was a priority for any Panamanian leader.@@@@1@10@@oe@2-2-2013
22013050@unknown@formal@none@1@S@Mr. Noriega's initial retainer was only $50 to $100 a month, plus occasional gifts of liquor or groceries from the American PX, a former intelligence official says.@@@@1@27@@oe@2-2-2013
22013051@unknown@formal@none@1@S@It was modest pay by American standards, but a healthy boost to his small military salary, which fellow officers remember as having been $300 to $400 monthly.@@@@1@27@@oe@2-2-2013
22013052@unknown@formal@none@1@S@"He did it very well," recalls Boris Martinez, a former Panamanian colonel who managed Mr. Noriega and his operation.@@@@1@19@@oe@2-2-2013
22013053@unknown@formal@none@1@S@"He started building the files that helped him gain power."@@@@1@10@@oe@2-2-2013
22013054@unknown@formal@none@1@S@A National Guard job assumed by Capt. Noriega in 1964 -- as chief of the transit police in David City, capital of the Chiriqui Province -- was tailor-made for an aspiring super-spy.@@@@1@32@@oe@2-2-2013
22013055@unknown@formal@none@1@S@By pressuring taxi and bus drivers who needed licenses, he gained a ready cache of information.@@@@1@16@@oe@2-2-2013
22013056@unknown@formal@none@1@S@He knew which local luminaries had been caught driving drunk, which had been found with their mistresses.@@@@1@17@@oe@2-2-2013
22013057@unknown@formal@none@1@S@This proved particularly valuable to the Panamanian government in 1967, when union leaders were planning a May Day march that the government feared could turn violent.@@@@1@26@@oe@2-2-2013
22013058@unknown@formal@none@1@S@Mr. Noriega had learned that a local union leader was sleeping with the wife of his deputy.@@@@1@17@@oe@2-2-2013
22013059@unknown@formal@none@1@S@So he splashed the information on handbills that he distributed throughout the banana-exporting city of Puerto Armuelles, which was ruled by United Fruit Co.@@@@1@24@@oe@2-2-2013
22013060@unknown@formal@none@1@S@The campaign so divided union leaders that the government found them far easier to control.@@@@1@15@@oe@2-2-2013
22013061@unknown@formal@none@1@S@"It was like a play on Broadway," recalls Mr. Martinez.@@@@1@10@@oe@2-2-2013
22013062@unknown@formal@none@1@S@"Noriega managed the whole thing.@@@@1@5@@oe@2-2-2013
22013063@unknown@formal@none@1@S@He was superb.@@@@1@3@@oe@2-2-2013
22013064@unknown@formal@none@1@S@Noriega was an expert at bribing and blackmailing people."@@@@1@9@@oe@2-2-2013
22013065@unknown@formal@none@1@S@During his years in Chiriqui, however, Mr. Noriega also revealed himself as an officer as perverse as he was ingenious.@@@@1@20@@oe@2-2-2013
22013066@unknown@formal@none@1@S@Rodrigo Miranda, a local lawyer and human-rights monitor, recalls an intoxicated Noriega visiting prisoners in their cells at the 5th Zone Garrison headquarters in David, where he had his offices.@@@@1@30@@oe@2-2-2013
22013067@unknown@formal@none@1@S@Mr. Noriega would order them all to take off their clothes and run around the courtyard naked, laughing at them and then retreating to his office.@@@@1@26@@oe@2-2-2013
22013068@unknown@formal@none@1@S@"People started wondering if something was wrong with him," Mr. Miranda recalls.@@@@1@12@@oe@2-2-2013
22013069@unknown@formal@none@1@S@But through this period, so far as the U.S. military was concerned, Mr. Noriega was a model recruit.@@@@1@18@@oe@2-2-2013
22013070@unknown@formal@none@1@S@He signed up for intelligence and counter-intelligence training under American officers at Fort Gulick in Panama in July 1967, according to a copy of a 1983 resume with details Mr. Noriega has since classified as secret.@@@@1@36@@oe@2-2-2013
22013071@unknown@formal@none@1@S@He flew to Fort Bragg, N.C., in September of that year for a course in psychological operations, returning to the School of the Americas in Panama for a two-month course called "military intelligence for officers."@@@@1@35@@oe@2-2-2013
22013072@unknown@formal@none@1@S@Some American officers interpreted his eagerness and studiousness as a sign of loyalty, but they did so falsely.@@@@1@18@@oe@2-2-2013
22013073@unknown@formal@none@1@S@He rose to chief of intelligence in Panama's socalled G-2 in 1970 after providing populist dictator Torrijos the critical support to defeat a coup attempt against him a year earlier.@@@@1@30@@oe@2-2-2013
22013074@unknown@formal@none@1@S@He became Gen. Torrijos's inseparable shadow, and the holder of all Panama's secrets.@@@@1@13@@oe@2-2-2013
22013075@unknown@formal@none@1@S@Mr. Noriega, by now a lieutenant colonel, expanded his contacts to include the Cubans -- not to mention the Israelis, the Taiwanese and any other intelligence service that came knocking.@@@@1@30@@oe@2-2-2013
22013076@unknown@formal@none@1@S@When U.S. diplomats complained to the CIA of Col. Noriega's moonlighting, intelligence experts always insisted that his allegiance was first to the Americans.@@@@1@23@@oe@2-2-2013
22013077@unknown@formal@none@1@S@"Early on in the State Department, we took to calling him the rent-a-colonel, in tribute to his ability to simultaneously milk the antagonistic intelligence services of Cuba and the United States," recalls Francis J. McNeil, who, as deputy assistant secretary of state for inter-American affairs, first ran across reports about Mr. Noriega in 1977.@@@@1@54@@oe@2-2-2013
22013078@unknown@formal@none@1@S@"Some of us wondered how our intelligence people could put so much stock in his information when he was just as close to the Cubans."@@@@1@25@@oe@2-2-2013
22013079@unknown@formal@none@1@S@Even at this early stage, drugs caused additional concerns.@@@@1@9@@oe@2-2-2013
22013080@unknown@formal@none@1@S@During the Nixon administration, the Drug Enforcement Administration became dismayed at the extent of the G-2's connections to arrested drug traffickers.@@@@1@21@@oe@2-2-2013
22013081@unknown@formal@none@1@S@One DEA agent drew up a list of five options for dealing with Col. Noriega, one of which was assassination.@@@@1@20@@oe@2-2-2013
22013082@unknown@formal@none@1@S@The head of the DEA at the time, John Ingersoll, scotched the assassination plan.@@@@1@14@@oe@2-2-2013
22013083@unknown@formal@none@1@S@But he did fly to Panama to scold dictator Torrijos on the drug ties of Panamanian officials, including Mr. Noriega.@@@@1@20@@oe@2-2-2013
22013084@unknown@formal@none@1@S@Mr. Ingersoll later recalled that Gen. Torrijos seemed afraid to act on the concerns of the U.S.@@@@1@17@@oe@2-2-2013
22013085@unknown@formal@none@1@S@"Everybody was afraid of him," Mr. Ingersoll says.@@@@1@8@@oe@2-2-2013
22013086@unknown@formal@none@1@S@Mr. Noriega became an even greater threat in 1976, when U.S. intelligence services discovered that he had been buying recordings of electronically monitored conversations from three sergeants working for the U.S. Army's 470th Military Intelligence Group.@@@@1@36@@oe@2-2-2013
22013087@unknown@formal@none@1@S@The tapes included wiretaps of Gen. Torrijos's own phone, according to American intelligence officials.@@@@1@14@@oe@2-2-2013
22013088@unknown@formal@none@1@S@"We caught him with his hands on our cookie jar," says former CIA Director Stansfield Turner.@@@@1@16@@oe@2-2-2013
22013089@unknown@formal@none@1@S@For the first time, the U.S. considered cutting Mr. Noriega from its intelligence payroll -- and the deliberations were intense, Mr. Turner says.@@@@1@23@@oe@2-2-2013
22013090@unknown@formal@none@1@S@"In the world of intelligence, if you want to get information, you get it from seedy characters.@@@@1@17@@oe@2-2-2013
22013091@unknown@formal@none@1@S@The question is how much you get tied in with seedy characters so they can extort you."@@@@1@17@@oe@2-2-2013
22013092@unknown@formal@none@1@S@Intelligence officials to this day worry whether Mr. Noriega sold sensitive information on the recordings to the Cubans or others.@@@@1@20@@oe@2-2-2013
22013093@unknown@formal@none@1@S@Mr. Turner was troubled enough to cancel the U.S. contract with the rent-a-colonel at the beginning of the Carter administration.@@@@1@20@@oe@2-2-2013
22013094@unknown@formal@none@1@S@The U.S. soon found new cause for concern: gun-running.@@@@1@9@@oe@2-2-2013
22013095@unknown@formal@none@1@S@Prosecutors in Southern Florida indicted five Panamanians on charges of illegally running arms to Sandinista rebels trying to overthrow the Nicaraguan government of Mr. Somoza.@@@@1@25@@oe@2-2-2013
22013096@unknown@formal@none@1@S@They included one of Mr. Noriega's closest friends and business partners, Carlos Wittgreen.@@@@1@13@@oe@2-2-2013
22013097@unknown@formal@none@1@S@And the investigators were quickly closing in on Mr. Noriega himself.@@@@1@11@@oe@2-2-2013
22013098@unknown@formal@none@1@S@At the time, though, in 1979, the U.S. was once again flirting with its longtime Latin American spy.@@@@1@18@@oe@2-2-2013
22013099@unknown@formal@none@1@S@Mr. Noriega made plans to fly to Washington for a meeting with his counterpart at the Pentagon.@@@@1@17@@oe@2-2-2013
22013100@unknown@formal@none@1@S@Dade County and federal authorities, learning that he intended to fly through Miami, made plans to arrest him on the gun-running charges as soon as he hit U.S. soil.@@@@1@29@@oe@2-2-2013
22013101@unknown@formal@none@1@S@It was a Friday in June.@@@@1@6@@oe@2-2-2013
22013102@unknown@formal@none@1@S@The Pentagon foiled the plan.@@@@1@5@@oe@2-2-2013
22013103@unknown@formal@none@1@S@According to military officers at the time, word was passed to Mr. Noriega by his American hosts that the police would be waiting.@@@@1@23@@oe@2-2-2013
22013104@unknown@formal@none@1@S@On Monday, U.S. officials received a routine, unclassified message from the military group commander in Panama.@@@@1@16@@oe@2-2-2013
22013105@unknown@formal@none@1@S@"Due to health reasons, Lt. Col. Noriega has elected to postpone his visit to Washington," it read.@@@@1@17@@oe@2-2-2013
22013106@unknown@formal@none@1@S@Prosecutors in Miami received yet another setback.@@@@1@7@@oe@2-2-2013
22013107@unknown@formal@none@1@S@Their original indictment against Mr. Wittgreen, the friend of Mr. Noriega, and the other four was dismissed on a technicality.@@@@1@20@@oe@2-2-2013
22013108@unknown@formal@none@1@S@But now, along with reindicting Mr. Noriega's pal, they intended to charge Mr. Noriega himself, on allegations that he was involved in the illegal trading of some $2 million in arms.@@@@1@31@@oe@2-2-2013
22013109@unknown@formal@none@1@S@In January 1980, Jerome Sanford, as assistant U.S. attorney, was summoned to a meeting with a Federal Bureau of Investigation agent assigned to the Bureau of Alcohol, Tobacco and Firearms in Miami.@@@@1@32@@oe@2-2-2013
22013110@unknown@formal@none@1@S@Panamanian dictator Torrijos, he was told, had granted the shah of Iran asylum in Panama as a favor to Washington.@@@@1@20@@oe@2-2-2013
22013111@unknown@formal@none@1@S@Mr. Sanford was told Mr. Noriega's friend, Mr. Wittgreen, would be handling the shah's security.@@@@1@15@@oe@2-2-2013
22013112@unknown@formal@none@1@S@It wouldn't be a good idea to indict him -- much less Mr. Noriega, the prosecutor was told.@@@@1@18@@oe@2-2-2013
22013113@unknown@formal@none@1@S@After prodding from Mr. Sanford, U.S. Attorney Jack Eskenazi pleaded with Justice Department officials in Washington to let the indictment proceed.@@@@1@21@@oe@2-2-2013
22013114@unknown@formal@none@1@S@"Unfortunately," Mr. Eskenazi wrote in a letter, "those of us in law enforcement in Miami find ourselves frequently attempting to enforce the laws of the United States but simultaneously being caught between foreign policy considerations over which we have no control."@@@@1@41@@oe@2-2-2013
22013115@unknown@formal@none@1@S@The letter, along with a detailed prosecution memo, sat on the desks of Justice officials for months before the case died a quiet death.@@@@1@24@@oe@2-2-2013
22013116@unknown@formal@none@1@S@"I think if we had been allowed to go ahead then we wouldn't have the problems we have now," Mr. Sanford says.@@@@1@22@@oe@2-2-2013
22013117@unknown@formal@none@1@S@"If he had been found guilty, we could have stopped him."@@@@1@11@@oe@2-2-2013
22013118@unknown@formal@none@1@S@In August 1983, Mr. Noriega took over as General and de-facto dictator of Panama, having maneuvered his way to the top only two years after the mysterious death in a plane crash of his old boss Omar Torrijos.@@@@1@38@@oe@2-2-2013
22013119@unknown@formal@none@1@S@Soon, the military became a veritable mafia controlling legal and illegal businesses.@@@@1@12@@oe@2-2-2013
22013120@unknown@formal@none@1@S@The Reagan administration also put Mr. Noriega's G-2 back on the U.S. payroll.@@@@1@13@@oe@2-2-2013
22013121@unknown@formal@none@1@S@Payments averaged nearly $200,000 a year from the U.S. Defense Intelligence Agency and the CIA.@@@@1@15@@oe@2-2-2013
22013122@unknown@formal@none@1@S@Although working for U.S. intelligence, Mr. Noriega was hardly helping the U.S. exclusively.@@@@1@13@@oe@2-2-2013
22013123@unknown@formal@none@1@S@During the Reagan years he expanded his business and intelligence contacts with the Cubans and the Sandinistas.@@@@1@17@@oe@2-2-2013
22013124@unknown@formal@none@1@S@He allegedly entered into Panama's first formal business arrangement with Colombian drug bosses, according to Floyd Carlton, a pilot who once worked for Mr. Noriega and who testified before the U.S. grand jury in Miami that would ultimately indict the Panamanian on drug charges.@@@@1@44@@oe@2-2-2013
22013125@unknown@formal@none@1@S@But Mr. Noriega was convinced the Reagan White House wouldn't act against him, recalls his close ally Jose Blandon, because he had an insurance policy: his involvement with the Contra rebels in Nicaragua.@@@@1@33@@oe@2-2-2013
22013126@unknown@formal@none@1@S@Mr. Blandon says the general allowed the Contras to set up a secret training center in Panama.@@@@1@17@@oe@2-2-2013
22013127@unknown@formal@none@1@S@Mr. Noriega also conveyed intelligence from his spy operation inside the Nicaraguan capital of Managua.@@@@1@15@@oe@2-2-2013
22013128@unknown@formal@none@1@S@And on at least one occasion, in the spring of 1985, he helped arrange a sabotage attack on a Sandinista arsenal in Nicaragua.@@@@1@23@@oe@2-2-2013
22013129@unknown@formal@none@1@S@Although, his help for the Contra cause was limited, it was enough to win him important protectors in the Reagan administration, says Sen. Patrick Leahy, a Vermont Democrat who then served on the Senate Intelligence Committee.@@@@1@36@@oe@2-2-2013
22013130@unknown@formal@none@1@S@"Noriega played U.S. intelligence agencies and the U.S. government like a violin," he says.@@@@1@14@@oe@2-2-2013
22013131@unknown@formal@none@1@S@An incident in 1984 suggested one additional means by which Mr. Noriega might have maintained such influence with Washington -- by compromising U.S. officials.@@@@1@24@@oe@2-2-2013
22013132@unknown@formal@none@1@S@Curtin Windsor, then the ambassador to Costa Rica, recalls being invited to Panama by Mr. Noriega's brother Luis Carlos for a weekend of deep sea fishing and "quiet, serious conversation" on the Aswara Peninsula.@@@@1@34@@oe@2-2-2013
22013133@unknown@formal@none@1@S@Mr. Windsor notified Everett E. Briggs, the U.S. ambassador to Panama, of the invitation.@@@@1@14@@oe@2-2-2013
22013134@unknown@formal@none@1@S@"Briggs screamed," Mr. Windsor recalls.@@@@1@5@@oe@2-2-2013
22013135@unknown@formal@none@1@S@He says Mr. Briggs told him he was being set up for a "honey trap," in which Mr. Noriega would try to involve him in an orgy and then record the event "with sound and video."@@@@1@36@@oe@2-2-2013
22013136@unknown@formal@none@1@S@Mr. Briggs, on vacation after resigning his position at the National Security Council, couldn't be reached for comment.@@@@1@18@@oe@2-2-2013
22013137@unknown@formal@none@1@S@As Mr. Noriega's political troubles grew, so did his offers of assistance to the Contras, an apparent attempt to curry more favor in Washington.@@@@1@24@@oe@2-2-2013
22013138@unknown@formal@none@1@S@For instance, he helped steal the May 1984 Panamanian elections for the ruling party.@@@@1@14@@oe@2-2-2013
22013139@unknown@formal@none@1@S@But just one month later, he also contributed $100,000 to a Contra leader, according to documents released for Oliver North's criminal trial in Washington, D.C.@@@@1@25@@oe@2-2-2013
22013140@unknown@formal@none@1@S@Yet, his political setbacks mounted.@@@@1@5@@oe@2-2-2013
22013141@unknown@formal@none@1@S@Mr. Noriega was accused of ordering in 1985 the beheading of Hugo Spadafora, his most outspoken political opponent and the first man to publicly finger Mr. Noriega on drug trafficking charges.@@@@1@31@@oe@2-2-2013
22013142@unknown@formal@none@1@S@He then ousted President Nicholas Ardito Barletta, a former World Bank official with close ties to the U.S., after Mr. Barletta tried to create a commission to investigate the murder.@@@@1@30@@oe@2-2-2013
22013143@unknown@formal@none@1@S@And, all the while, Panama's debt problems continued to grow.@@@@1@10@@oe@2-2-2013
22013144@unknown@formal@none@1@S@Mr. Noriega was growing desperate.@@@@1@5@@oe@2-2-2013
22013145@unknown@formal@none@1@S@In late 1986, he made an offer he thought the U.S. couldn't refuse.@@@@1@13@@oe@2-2-2013
22013146@unknown@formal@none@1@S@As recounted in a stipulation that summarized government documents released for the North trial, Mr. Noriega offered to assassinate the Sandinista leadership in exchange "for a promise to help clean up Noriega's image and a commitment to lift the {U.S.} ban on military sales to the Panamanian Defense Forces."@@@@1@49@@oe@2-2-2013
22013147@unknown@formal@none@1@S@"North," the document went on, referring to Oliver North, "has told Noriega's representative that U.S. law forbade such actions.@@@@1@19@@oe@2-2-2013
22013148@unknown@formal@none@1@S@The representative responded that Noriega had numerous assets in place in Nicaragua and could accomplish many essential things, just as Noriega had helped {the U.S.} the previous year in blowing up a Sandinista arsenal."@@@@1@34@@oe@2-2-2013
22013149@unknown@formal@none@1@S@Col. North conveyed the request to his superiors and to Assistant Secretary of State Elliot Abrams, who relayed it to Secretary of State George Shultz.@@@@1@25@@oe@2-2-2013
22013150@unknown@formal@none@1@S@Mr. Noriega's proposal was turned down.@@@@1@6@@oe@2-2-2013
22013151@unknown@formal@none@1@S@And Mr. Shultz curtly told Mr. Abrams that the general should be told that only he could repair his tarnished image.@@@@1@21@@oe@2-2-2013
22013152@unknown@formal@none@1@S@The end of the marriage was at hand.@@@@1@8@@oe@2-2-2013
22013153@unknown@formal@none@1@S@Within weeks the unfolding Iran-Contra scandal took away Mr. Noriega's insurance policy.@@@@1@12@@oe@2-2-2013
22013154@unknown@formal@none@1@S@The death of CIA Director William Casey and resignation of Oliver North allowed anti-Noriega political forces to gain influence.@@@@1@19@@oe@2-2-2013
22013155@unknown@formal@none@1@S@Public protests against him were triggered in June 1987 due to charges by Diaz Herrera, his former chief of staff, that Mr. Noriega had stolen the 1984 election and had ordered the killing of Messrs. Spadafora and Torrijos.@@@@1@38@@oe@2-2-2013
22013156@unknown@formal@none@1@S@Few American officials were willing any longer to defend him.@@@@1@10@@oe@2-2-2013
22013157@unknown@formal@none@1@S@Lawyers in Miami -- this time working virtually without impediment -- prepared to have him indicted on drug charges in February 1988.@@@@1@22@@oe@2-2-2013
22013158@unknown@formal@none@1@S@During negotiations with American officials in May 1988 over proposals to drop the U.S. indictments in exchange for his resignation, Mr. Noriega often asked almost plaintively how the Americans, whom he had helped for so many years, could turn against him.@@@@1@41@@oe@2-2-2013
22013159@unknown@formal@none@1@S@Now, neither side -- the U.S. nor Mr. Noriega -- has an easy out.@@@@1@14@@oe@2-2-2013
22013160@unknown@formal@none@1@S@President Bush has sworn to bring him to justice.@@@@1@9@@oe@2-2-2013
22013161@unknown@formal@none@1@S@Mr. Noriega believes he hasn't any alternative but to continue clutching to power.@@@@1@13@@oe@2-2-2013
22013162@unknown@formal@none@1@S@It is a knock-out battle -- perhaps to the death.@@@@1@10@@oe@2-2-2013
22013163@unknown@formal@none@1@S@In the end, is Mr. Noriega the political equivalent of Frankenstein's monster, created by a well-intentioned but misguided foreign power?@@@@1@20@@oe@2-2-2013
22013164@unknown@formal@none@1@S@Not quite, Sen. Leahy contends.@@@@1@5@@oe@2-2-2013
22013165@unknown@formal@none@1@S@"For short-term gains, people were willing to put up with him.@@@@1@11@@oe@2-2-2013
22013166@unknown@formal@none@1@S@That allowed him to get stronger and stronger," he says.@@@@1@10@@oe@2-2-2013
22013167@unknown@formal@none@1@S@"I don't think we created him as much as we fed him, nurtured him and let him grow up to be big and strong.@@@@1@24@@oe@2-2-2013
22014001@unknown@formal@none@1@S@UPJOHN Co. reported that third-quarter net income rose to $96 million, or 52 cents a share, from $89.6 million, or 49 cents a share, a year earlier.@@@@1@27@@oe@2-2-2013
22014002@unknown@formal@none@1@S@Yesterday's edition provided analysts' estimates for the company when actual earnings were available.@@@@1@13@@oe@2-2-2013
22015001@unknown@formal@none@1@S@Industrial production declined 0.1% in September, reinforcing other signs that the manufacturing sector continues its slowing trend.@@@@1@17@@oe@2-2-2013
22015002@unknown@formal@none@1@S@The Federal Reserve Board said output of the nation's factories, mines and utilities expanded at an annual rate of 1.3% in the third quarter, substantially slower than the 3.3% annual rate in the second quarter.@@@@1@35@@oe@2-2-2013
22015003@unknown@formal@none@1@S@"Capital spending and exports, which have been the driving force in this expansion, are showing clear signs of having the steam taken out of them," said Robert Dederick, economist for Northern Trust Co. in Chicago.@@@@1@35@@oe@2-2-2013
22015004@unknown@formal@none@1@S@The new reports of sluggishness, which were foreshadowed by an earlier Labor Department report that manufacturing payrolls dropped by 105,000 in September, give the Fed another reason to further ease its grip on credit and lower interest rates.@@@@1@38@@oe@2-2-2013
22015005@unknown@formal@none@1@S@"They need to do something about this," said Maury Harris, economist at PaineWebber Group Inc.@@@@1@15@@oe@2-2-2013
22015006@unknown@formal@none@1@S@The Fed also said U.S. industry operated at 83.6% of capacity last month, down from 83.8% in August.@@@@1@18@@oe@2-2-2013
22015007@unknown@formal@none@1@S@Measures of manufacturing activity fell more than the overall measures.@@@@1@10@@oe@2-2-2013
22015008@unknown@formal@none@1@S@Factory output dropped 0.2%, its first decline since February, after having been unchanged in October.@@@@1@15@@oe@2-2-2013
22015009@unknown@formal@none@1@S@Factories operated at 83.7% of capacity, the lowest rate in more than a year and down from 84.1% in September.@@@@1@20@@oe@2-2-2013
22015010@unknown@formal@none@1@S@The declines mainly reflected widespread weakness in durable goods, those intended to last more than three years.@@@@1@17@@oe@2-2-2013
22015011@unknown@formal@none@1@S@The biggest drop was recorded by primary metals producers, a category that includes the steel industry.@@@@1@16@@oe@2-2-2013
22015012@unknown@formal@none@1@S@Output of business equipment was unchanged in September.@@@@1@8@@oe@2-2-2013
22015013@unknown@formal@none@1@S@Production of factory equipment, one indication of the strength of manufacturers' investment spending, fell 0.3%.@@@@1@15@@oe@2-2-2013
22015014@unknown@formal@none@1@S@Some economists expect further declines in investment spending.@@@@1@8@@oe@2-2-2013
22015015@unknown@formal@none@1@S@"Whenever corporate profits are weak that means capital spending is going to soften subsequently," Mr. Harris said.@@@@1@17@@oe@2-2-2013
22015016@unknown@formal@none@1@S@"You haven't seen the full effect of that yet."@@@@1@9@@oe@2-2-2013
22015017@unknown@formal@none@1@S@A decline in truck production more than offset a sharp rise in auto assemblies, the Fed noted.@@@@1@17@@oe@2-2-2013
22015018@unknown@formal@none@1@S@Analysts don't expect the September surge in auto production to be repeated in the coming months.@@@@1@16@@oe@2-2-2013
22015019@unknown@formal@none@1@S@Here is a summary of the Federal Reserve Board's report on industrial production in September.@@@@1@15@@oe@2-2-2013
22015020@unknown@formal@none@1@S@The figures are seasonally adjusted.@@@@1@5@@oe@2-2-2013
22015021@unknown@formal@none@1@S@142.3% of the 1977 average.@@@@1@5@@oe@2-2-2013
22016001@unknown@formal@none@1@S@Robin Honiss, president and chief executive officer of this bank holding company, was elected to the additional posts of chairman, president and chief executive of the company's New England Savings Bank subsidiary.@@@@1@32@@oe@2-2-2013
22016002@unknown@formal@none@1@S@William R. Attridge resigned those posts, as well as a seat on NESB's board.@@@@1@14@@oe@2-2-2013
22016003@unknown@formal@none@1@S@NESB is also the parent of Omnibank.@@@@1@7@@oe@2-2-2013
22017001@unknown@formal@none@1@S@Lung-cancer mortality rates for people under 45 years of age have begun to decline, federal researchers report.@@@@1@17@@oe@2-2-2013
22017002@unknown@formal@none@1@S@The drop is particularly large for white males, although black males and white and black women also show lower mortality rates.@@@@1@21@@oe@2-2-2013
22017003@unknown@formal@none@1@S@A report in this week's issue of the Journal of the National Cancer Institute also projects that overall U.S. mortality rates from lung cancer, the leading cause of cancer death, should begin to drop in several years if cigarette smoking continues to abate.@@@@1@43@@oe@2-2-2013
22017004@unknown@formal@none@1@S@The report, which comes 25 years after the U.S. Surgeon General issued a report warning against the dangers of smoking, is the strongest indication to date that the reduction in smoking is leading to lower death rates from lung cancer.@@@@1@40@@oe@2-2-2013
22017005@unknown@formal@none@1@S@"What this is saying is that the surgeon general's message is having an impact," said Melvyn Tockman, an epidemiologist at the Johns Hopkins School of Hygiene and Public Health in Baltimore.@@@@1@31@@oe@2-2-2013
22017006@unknown@formal@none@1@S@The National Cancer Institute report compares mortality rates of two groups of people between the ages of 35 and 44 a decade apart.@@@@1@23@@oe@2-2-2013
22017007@unknown@formal@none@1@S@The death rate from lung cancer of white males aged 35 to 44 in the mid-1970s was 13.4 per 100,000, but the mortality rate of the same age group in the mid-1980s was 9.6, a decline of 28.7%.@@@@1@38@@oe@2-2-2013
22017008@unknown@formal@none@1@S@Measured the same way, the decline for black males was 14.2%.@@@@1@11@@oe@2-2-2013
22017009@unknown@formal@none@1@S@The drop in mortality rates for women was less steep -- 8.9% for blacks and 5.3% for whites.@@@@1@18@@oe@2-2-2013
22017010@unknown@formal@none@1@S@The study, by Susan Devesa, William Blot and Joseph Fraumeni of the institute's staff, also shows that the incidence of lung cancer as well as the death rate declined over the decade for all groups in the 35-44 age bracket, except black men.@@@@1@43@@oe@2-2-2013
22017011@unknown@formal@none@1@S@Although lung-cancer mortality rates are increasing for the nation as a whole, the report projects that death rates will begin to decline in the 1990s for men and after the year 2000 for women.@@@@1@34@@oe@2-2-2013
22017012@unknown@formal@none@1@S@Lung-cancer mortality rates increase with age and are continuing to rise for all age groups over 55, with sharp increases for everybody but white men.@@@@1@25@@oe@2-2-2013
22017013@unknown@formal@none@1@S@But Dr. Fraumeni, one of the authors of the report, said "the declining rates we're seeing for younger people we believe may be a harbinger of declining mortality in the future."@@@@1@31@@oe@2-2-2013
22017014@unknown@formal@none@1@S@However, he stressed that the improvement depends on a continued reduction in smoking.@@@@1@13@@oe@2-2-2013
22017015@unknown@formal@none@1@S@"Even though these favorable trends in lung-cancer mortality affect all sex and race groups, they can't be taken for granted," the report says.@@@@1@23@@oe@2-2-2013
22017016@unknown@formal@none@1@S@"Smoking prevention programs should reach larger segments of the population, especially children, adolescents and minorities."@@@@1@15@@oe@2-2-2013
22017017@unknown@formal@none@1@S@An editorial in the NCI Journal says the report of declining lung-cancer mortality "among young men and women in the U.S. indicates that we finally may be winning the battle -- this even in a country where the tobacco industry spends over $2 billion a year for promotion of the addictive habit of smoking."@@@@1@54@@oe@2-2-2013
22017018@unknown@formal@none@1@S@But the editorial, by Jan Stjernsward of the World Health Organization, notes that tobacco consumption and lung-cancer mortality rates are rising in developing countries.@@@@1@24@@oe@2-2-2013
22017019@unknown@formal@none@1@S@"Non-smoking should be established as the norm of social behavior" around the world, the editorial says, through the enactment of laws that limit advertising, boost tobacco prices and promote anti-smoking education.@@@@1@31@@oe@2-2-2013
22017020@unknown@formal@none@1@S@Asked for comment, Walker Merryman, a vice president of the Tobacco Institute, said new efforts to restrict tobacco advertising in the U.S. could violate the First Amendment protection of free speech.@@@@1@31@@oe@2-2-2013
22017021@unknown@formal@none@1@S@According to the American Cancer Society, smoking is responsible for 85% of the lung-cancer cases among men and 75% among women.@@@@1@21@@oe@2-2-2013
22017022@unknown@formal@none@1@S@The NCI report attributes the differences in mortality rates by race to different smoking patterns.@@@@1@15@@oe@2-2-2013
22017023@unknown@formal@none@1@S@A higher proportion of black men smoke than white men.@@@@1@10@@oe@2-2-2013
22017024@unknown@formal@none@1@S@While nearly equal percentages of black and white women currently smoke, in both sexes more whites have given up smoking than blacks.@@@@1@22@@oe@2-2-2013
22017025@unknown@formal@none@1@S@In comparing changes in mortality rates over the past decade, the NCI study looked only at blacks and whites.@@@@1@19@@oe@2-2-2013
22017026@unknown@formal@none@1@S@Asians and native Americans weren't studied; Hispanics were included with whites.@@@@1@11@@oe@2-2-2013
22017027@unknown@formal@none@1@S@Recent changes in average annual age-specific lung-cancer rates per 100,000 population by race and sex.@@@@1@15@@oe@2-2-2013
22017028@unknown@formal@none@1@S@White Males@@@@1@2@@oe@2-2-2013
22017029@unknown@formal@none@1@S@White Females@@@@1@2@@oe@2-2-2013
22017030@unknown@formal@none@1@S@Black Males@@@@1@2@@oe@2-2-2013
22017031@unknown@formal@none@1@S@Black Females@@@@1@2@@oe@2-2-2013
22018001@unknown@formal@none@1@S@Directors elected R. Marvin Womack, currently vice president/product supply, purchasing, to head the company's Washington, D.C., office.@@@@1@17@@oe@2-2-2013
22018002@unknown@formal@none@1@S@As vice president/national-government relations, Mr. Womack will work with P&G's top management and with the company's government-relations staff "to represent P&G's interests at the federal level," said John G. Smale, chairman and chief executive officer.@@@@1@35@@oe@2-2-2013
22018003@unknown@formal@none@1@S@Mr. Smale said the appointment "recognizes the growing influence of government on our business."@@@@1@14@@oe@2-2-2013
22018004@unknown@formal@none@1@S@Mr. Womack, 53 years old, has been with the big producer of household products, food and pharmaceuticals for 30 years.@@@@1@20@@oe@2-2-2013
22019001@unknown@formal@none@1@S@Traders trying to profit from the recent volatility in financial markets invaded the Nasdaq over-the-counter market, prompting even more swings in stock prices.@@@@1@23@@oe@2-2-2013
22019002@unknown@formal@none@1@S@After gaining strength during a brief run-up when trading began, the Nasdaq Composite Index weakened under selling pressure.@@@@1@18@@oe@2-2-2013
22019003@unknown@formal@none@1@S@The forces at work included computer-guided trading, as well as profit-driven market makers and institutional investors who had bought stock on the cheap during the recent correction.@@@@1@27@@oe@2-2-2013
22019004@unknown@formal@none@1@S@During the last two hours of trading, the composite almost drew even on the day before slipping again.@@@@1@18@@oe@2-2-2013
22019005@unknown@formal@none@1@S@The Nasdaq Composite closed down 1.05, or 0.2%, to 459.93.@@@@1@10@@oe@2-2-2013
22019006@unknown@formal@none@1@S@The action was confined to Nasdaq's biggest and most liquid stocks, traders said.@@@@1@13@@oe@2-2-2013
22019007@unknown@formal@none@1@S@The Nasdaq 100 Index began the day at 449.89, lost 2% at one point, and was up 0.4% at another.@@@@1@20@@oe@2-2-2013
22019008@unknown@formal@none@1@S@The barometer of the biggest nonfinancial stocks settled at 448.49, off 1.40.@@@@1@12@@oe@2-2-2013
22019009@unknown@formal@none@1@S@Its counterpart, the Nasdaq Financial Index, was weak for most of the day, sliding 2.51 to 453.57 by the end of trading.@@@@1@22@@oe@2-2-2013
22019010@unknown@formal@none@1@S@The volatility was dizzying for traders.@@@@1@6@@oe@2-2-2013
22019011@unknown@formal@none@1@S@"The market must have turned up and down 15 different times," commented Lance Zipper, head of OTC trading at Kidder Peabody.@@@@1@21@@oe@2-2-2013
22019012@unknown@formal@none@1@S@"Every time you thought it was going into a rally it gave up, and every time you thought it would rally it came down.@@@@1@24@@oe@2-2-2013
22019013@unknown@formal@none@1@S@This is a tough market."@@@@1@5@@oe@2-2-2013
22019014@unknown@formal@none@1@S@Mr. Zipper said the market is still settling down after the recent correction.@@@@1@13@@oe@2-2-2013
22019015@unknown@formal@none@1@S@Most of trading action now is from professional traders who are trying to take advantage of the price swings to turn a quick profit, he and other traders said.@@@@1@29@@oe@2-2-2013
22019016@unknown@formal@none@1@S@"Everybody's confused and no one has an opinion that lasts longer than 30 seconds," said Mr. Zipper.@@@@1@17@@oe@2-2-2013
22019017@unknown@formal@none@1@S@"A lot of the professional traders are just going back and forth.@@@@1@12@@oe@2-2-2013
22019018@unknown@formal@none@1@S@They're just as confused."@@@@1@4@@oe@2-2-2013
22019019@unknown@formal@none@1@S@William Rothe, head of OTC trading at Alex. Brown & Sons, in Baltimore, said program trading is keeping the markets unsettled.@@@@1@21@@oe@2-2-2013
22019020@unknown@formal@none@1@S@He believes that the volatile conditions created by program trading has "thoroughly confused" investors about where the market is headed.@@@@1@20@@oe@2-2-2013
22019021@unknown@formal@none@1@S@Program trading is "benefiting a few to the detriment of many and I wish someone would do something about it," he complained.@@@@1@22@@oe@2-2-2013
22019022@unknown@formal@none@1@S@Trading activity cooled off from Monday's sizzling pace.@@@@1@8@@oe@2-2-2013
22019023@unknown@formal@none@1@S@Share turnover subsided to 161.5 million.@@@@1@6@@oe@2-2-2013
22019024@unknown@formal@none@1@S@Advancing and declining issues finished about even.@@@@1@7@@oe@2-2-2013
22019025@unknown@formal@none@1@S@Of the 4,345 stocks that changed hands, 1,174 declined and 1,040 advanced.@@@@1@12@@oe@2-2-2013
22019026@unknown@formal@none@1@S@One big technology issue, Novell, rode the roller coaster.@@@@1@9@@oe@2-2-2013
22019027@unknown@formal@none@1@S@The stock, which finished Monday at 29 1/2, traded as high as 29 3/4 and as low as 28 3/4 before closing at 29 1/4, down 1/4.@@@@1@27@@oe@2-2-2013
22019028@unknown@formal@none@1@S@It was a jarring day for investors in Genetics Institute.@@@@1@10@@oe@2-2-2013
22019029@unknown@formal@none@1@S@The stock tumbled 2 3/4 on news that it might have to take a charge against earnings if it can't successfully resolve a dispute with its European licensee, Boehringer Mannheim, over its anti-anemia drug, EPO.@@@@1@35@@oe@2-2-2013
22019030@unknown@formal@none@1@S@The stock recovered somewhat to finish 1 1/4 lower at 26 1/4.@@@@1@12@@oe@2-2-2013
22019031@unknown@formal@none@1@S@In a statement, Genetics Institute said the dispute with Boehringer centers on questions of the usability of certain batches of EPO material valued at $13.6 million.@@@@1@26@@oe@2-2-2013
22019032@unknown@formal@none@1@S@Earlier this week, Genetics Institute reported wider losses in its fiscal third quarter ended Aug. 31.@@@@1@16@@oe@2-2-2013
22019033@unknown@formal@none@1@S@Price Co. jumped 2 1/4 to 44 on 1.7 million shares.@@@@1@11@@oe@2-2-2013
22019034@unknown@formal@none@1@S@The wholesaler of cash and carry merchandise reported fiscal fourthquarter earnings that were better than analysts had expected.@@@@1@18@@oe@2-2-2013
22019035@unknown@formal@none@1@S@The company also pleased analysts by announcing four new store openings planned for fiscal 1990, ending next August.@@@@1@18@@oe@2-2-2013
22019036@unknown@formal@none@1@S@That will bring the total for the year to 10, from five during fiscal 1989.@@@@1@15@@oe@2-2-2013
22019037@unknown@formal@none@1@S@"Every year we've been waiting for stepped-up expansion from the company.@@@@1@11@@oe@2-2-2013
22019038@unknown@formal@none@1@S@The news couldn't have been better," said Linda Kristiansen, a Dean Witter Reynolds analyst, in an interview.@@@@1@17@@oe@2-2-2013
22019039@unknown@formal@none@1@S@Intermec, a maker of optical character-recognition devices, also reported higher third-quarter earnings.@@@@1@12@@oe@2-2-2013
22019040@unknown@formal@none@1@S@Its shares added 3/4 to 30 3/4.@@@@1@7@@oe@2-2-2013
22019041@unknown@formal@none@1@S@But favorable earnings wasn't a guarantee that a stock's price would improve yesterday.@@@@1@13@@oe@2-2-2013
22019042@unknown@formal@none@1@S@MCI Communications tumbled 2 5/8 to 42 3/8 on 4.7 million shares even though the telecommunications giant reported a 63% increase in third-quarter profit.@@@@1@24@@oe@2-2-2013
22019043@unknown@formal@none@1@S@CoreStates Financial slipped 3/8 to 43 1/8 in active trading after reporting that third-quarter earnings improved to $1.27 a share from $1.15 a share a year earlier.@@@@1@27@@oe@2-2-2013
22019044@unknown@formal@none@1@S@However, the bank holding company's loan-loss reserves rose to $177.3 million from $154 million a year earlier.@@@@1@17@@oe@2-2-2013
22019045@unknown@formal@none@1@S@A&W Brands lost 1/4 to 27.@@@@1@6@@oe@2-2-2013
22019046@unknown@formal@none@1@S@But its thirdquarter earnings rose to 26 cents a share from 18 cents a share last year.@@@@1@17@@oe@2-2-2013
22019047@unknown@formal@none@1@S@Capital Associates dropped 1 to 5 3/8.@@@@1@7@@oe@2-2-2013
22019048@unknown@formal@none@1@S@The company, which leases technology equipment, reported substantially lower net income for its fiscal first quarter, which ended Aug. 31.@@@@1@20@@oe@2-2-2013
22020001@unknown@formal@none@1@S@Robert M. Jelenic, 39, was named president and chief operating officer of this closely held publisher.@@@@1@16@@oe@2-2-2013
22020002@unknown@formal@none@1@S@The post had been vacant for more than a year.@@@@1@10@@oe@2-2-2013
22020003@unknown@formal@none@1@S@Mr. Jelenic had been executive vice president for operations.@@@@1@9@@oe@2-2-2013
22020004@unknown@formal@none@1@S@In addition, Ralph Ingersoll II, 43, chairman and chief executive, said he would take on additional responsibilities as editor in chief of the company.@@@@1@24@@oe@2-2-2013
22020005@unknown@formal@none@1@S@John Wilpers resigned as editor in chief.@@@@1@7@@oe@2-2-2013
22020006@unknown@formal@none@1@S@Mr. Ingersoll remains editor in chief of the company's recently launched daily, the St. Louis Sun.@@@@1@16@@oe@2-2-2013
22020007@unknown@formal@none@1@S@Also, Jean B. Clifton, 28, was named executive vice president, treasurer and chief financial officer.@@@@1@15@@oe@2-2-2013
22020008@unknown@formal@none@1@S@Michael Applebaum resigned after less than a year in the posts.@@@@1@11@@oe@2-2-2013
22020009@unknown@formal@none@1@S@Ms. Clifton had been executive financial assistant to the chairman.@@@@1@10@@oe@2-2-2013
22021001@unknown@formal@none@1@S@Certainly conservative environmentalists can defend their limited government position by differentiating between Old Environmentalism and New Environmentalism ("Journalists and Others for Saving the Planet," by David Brooks, editorial page, Oct. 5).@@@@1@31@@oe@2-2-2013
22021002@unknown@formal@none@1@S@Old Environmentalism involved microbe hunters and sanitationists.@@@@1@7@@oe@2-2-2013
22021003@unknown@formal@none@1@S@It started with improvements in hygiene made possible by affordable soap and washable underwear during the Industrial Revolution.@@@@1@18@@oe@2-2-2013
22021004@unknown@formal@none@1@S@Then cast-iron sewer pipe and the flush toilet were followed by sewage- and water-treatment plants toward the end of the 19th century.@@@@1@22@@oe@2-2-2013
22021005@unknown@formal@none@1@S@Medicine in the 19th century was dedicated mostly to combating sepsis and diagnostic analysis.@@@@1@14@@oe@2-2-2013
22021006@unknown@formal@none@1@S@Then the 20th century saw the evolution of private-sector wonder drugs, which promulgated medical therapy.@@@@1@15@@oe@2-2-2013
22021007@unknown@formal@none@1@S@The process dramatically increased our average life expectancy, eliminated much pain and constantly improved health and well-being.@@@@1@17@@oe@2-2-2013
22021008@unknown@formal@none@1@S@Most public-health measures were handled at the local level.@@@@1@9@@oe@2-2-2013
22021009@unknown@formal@none@1@S@New Environmentalism probably started in 1962 with the publication of Rachel Carson's book "Silent Spring."@@@@1@15@@oe@2-2-2013
22021010@unknown@formal@none@1@S@Shortly thereafter, hysterical articles began to appear predicting that advanced industrial societies would produce a blackened, uninhabitable planet possibly by the turn of the century.@@@@1@25@@oe@2-2-2013
22021011@unknown@formal@none@1@S@These apocalyptic predictions were advanced by such stalwarts as Paul Ehrlich, Barry Commoner, Rene Dubois and George Wald.@@@@1@18@@oe@2-2-2013
22021012@unknown@formal@none@1@S@Writing in the 1960s Ms. Carson suggested that the human race could be eliminated in 20 years, and Mr. Wald suggested that life on earth might end by 1985.@@@@1@29@@oe@2-2-2013
22021013@unknown@formal@none@1@S@Mr. Ehrlich predicted unprecedented famine by 1980.@@@@1@7@@oe@2-2-2013
22021014@unknown@formal@none@1@S@There were many more.@@@@1@4@@oe@2-2-2013
22021015@unknown@formal@none@1@S@Thousands of chemical products were categorized as carcinogenic, with recommendations that they be banned from industrial use because they produced malignant tumors in overdosed rats.@@@@1@25@@oe@2-2-2013
22021016@unknown@formal@none@1@S@Unknown before 1960 were the inconclusive effects of acid rain, greenhouse warming and ozone depletion, all of which required burgeoning political power and gargantuan expense.@@@@1@25@@oe@2-2-2013
22021017@unknown@formal@none@1@S@Meanwhile, the New Environmentalists systematically opposed the methods of the Old Environmentalists.@@@@1@12@@oe@2-2-2013
22021018@unknown@formal@none@1@S@Local pollution problems require cheap energy and capital for their solution.@@@@1@11@@oe@2-2-2013
22021019@unknown@formal@none@1@S@But the New Environmentalists oppose private wealth creation (which, they claim, depletes natural resources) and nuclear power (even though it would counteract the greenhouse effect).@@@@1@25@@oe@2-2-2013
22021020@unknown@formal@none@1@S@They are in the forefront of opposing the search for new landfills and methods of incineration and even oppose new methods of research such as genetic engineering.@@@@1@27@@oe@2-2-2013
22021021@unknown@formal@none@1@S@New Environmentalism is an emotional attack on proven methods of improving our quality of life and a bid for political power.@@@@1@21@@oe@2-2-2013
22021022@unknown@formal@none@1@S@Let's rationalize our priorities by solving pollution problems at the local level as heretofore.@@@@1@14@@oe@2-2-2013
22021023@unknown@formal@none@1@S@Harry Lee Smith Alpharetta, Ga.@@@@1@5@@oe@2-2-2013
22021024@unknown@formal@none@1@S@Your story missed some essential points of the conference on "The Global Environment: Are We Overreacting?"@@@@1@16@@oe@2-2-2013
22021025@unknown@formal@none@1@S@First and foremost, the vignettes presented by the various scientists represent a general consensus among specialists working in the respective aspects of the global environment.@@@@1@25@@oe@2-2-2013
22021026@unknown@formal@none@1@S@Consider, for example, the greenhouse effect and climate change; numerous blue-ribbon scientific committees, including one from the National Academy of Science, judge there is a greater than 50% probability of a grave problem in the offing.@@@@1@36@@oe@2-2-2013
22021027@unknown@formal@none@1@S@The point was to answer the question in the conference title, not to try to create news stories for the event itself.@@@@1@22@@oe@2-2-2013
22021028@unknown@formal@none@1@S@Nor was it intended to dictate a set of prescriptive solutions, although various points were raised.@@@@1@16@@oe@2-2-2013
22021029@unknown@formal@none@1@S@Each speaker was asked to address a specific topic, not deliver a point of view.@@@@1@15@@oe@2-2-2013
22021030@unknown@formal@none@1@S@Each scientist independently concluded society and government are underreacting when it comes to substantive policy change.@@@@1@16@@oe@2-2-2013
22021031@unknown@formal@none@1@S@This leads to a very special sense of urgency.@@@@1@9@@oe@2-2-2013
22021032@unknown@formal@none@1@S@If the media decide to work harder at educating the public about these complex and technical issues, that hardly can be termed non-objective journalism.@@@@1@24@@oe@2-2-2013
22021033@unknown@formal@none@1@S@The environment can no longer be a normal issue, to be dealt with on a business-as-usual basis with comfortable increments of change.@@@@1@22@@oe@2-2-2013
22021034@unknown@formal@none@1@S@We have literally altered the chemistry and physics of our planet's atmosphere.@@@@1@12@@oe@2-2-2013
22021035@unknown@formal@none@1@S@This portends consequences from what we have already done that will be very destabilizing to social and economic systems.@@@@1@19@@oe@2-2-2013
22021036@unknown@formal@none@1@S@The problems of the environment are so interrelated, so inextricably entwined with our current way of life and so large that it is unlikely we will be able to address them effectively unless major changes are made in less than 10 years.@@@@1@42@@oe@2-2-2013
22021037@unknown@formal@none@1@S@The consensus from the scientific community is that there is sufficient evidence to advise major policy changes.@@@@1@17@@oe@2-2-2013
22021038@unknown@formal@none@1@S@No, we are not overreacting.@@@@1@5@@oe@2-2-2013
22021039@unknown@formal@none@1@S@Thomas E. Lovejoy Assistant Secretary for External Affairs Smithsonian Institution@@@@1@10@@oe@2-2-2013
22022001@unknown@formal@none@1@S@Coca-Cola Enterprises Inc., fulfilling its dismal earnings forecast for 1989, said its third-quarter net income fell 68% on flat revenue.@@@@1@20@@oe@2-2-2013
22022002@unknown@formal@none@1@S@Stung by higher marketing costs and slowing volume growth, the giant Coke bottling operation said net fell to $12.7 million, or six cents a share, from $39.9 million, or 26 cents a share, the year earlier.@@@@1@36@@oe@2-2-2013
22022003@unknown@formal@none@1@S@The results met estimates of analysts, who had already slashed their projections after the company said in late August that its 1989 earnings could tumble as much as 37%.@@@@1@29@@oe@2-2-2013
22022004@unknown@formal@none@1@S@A company spokesman said yesterday that Coca-Cola Enterprises sticks by its 1989 forecast.@@@@1@13@@oe@2-2-2013
22022005@unknown@formal@none@1@S@Third-quarter revenue was flat at $1.02 billion.@@@@1@7@@oe@2-2-2013
22022006@unknown@formal@none@1@S@The year-ago results, however, included the operations of a bottling business, which was sold last December.@@@@1@16@@oe@2-2-2013
22022007@unknown@formal@none@1@S@Excluding that bottling business, Coca-Cola Enterprises' volume, measured by cases of soda, rose only 1%.@@@@1@15@@oe@2-2-2013
22022008@unknown@formal@none@1@S@The volume is well below the industry's 4% to 5% growth rate of recent years, but in line with other soft-drink companies for the third quarter.@@@@1@26@@oe@2-2-2013
22022009@unknown@formal@none@1@S@The latest third-quarter volume also compares with a very strong 10% growth in the year-ago quarter.@@@@1@16@@oe@2-2-2013
22022010@unknown@formal@none@1@S@Coca-Cola Enterprises blamed the lower volume on its soft-drink prices, which were about 3% higher in the third quarter.@@@@1@19@@oe@2-2-2013
22022011@unknown@formal@none@1@S@Consumers have been accustomed to buying soft-drinks at discounted prices for several years.@@@@1@13@@oe@2-2-2013
22022012@unknown@formal@none@1@S@Coca-Cola Enterprises said it had to boost spending for trade and dealer incentives to try to keep volumes from slipping.@@@@1@20@@oe@2-2-2013
22022013@unknown@formal@none@1@S@The company said it expects consumers will adjust to higher-priced soft drinks.@@@@1@12@@oe@2-2-2013
22022014@unknown@formal@none@1@S@A spokesman attributed the bulk of a 14% increase in selling, administrative and general expenses -- to $324.9 million -- to marketing costs.@@@@1@23@@oe@2-2-2013
22022015@unknown@formal@none@1@S@"They're out there promoting like crazy, trying to get prices up by promotion," said Roy Burry, an analyst with Kidder, Peabody & Co.@@@@1@23@@oe@2-2-2013
22022016@unknown@formal@none@1@S@For the nine months, Coca-Cola Enterprises' net fell 31% to $65 million, or 39 cents a share, from $93.8 million, or 63 cents a share.@@@@1@25@@oe@2-2-2013
22022017@unknown@formal@none@1@S@Revenue was flat at about $2.97 billion.@@@@1@7@@oe@2-2-2013
22022018@unknown@formal@none@1@S@Coca-Cola Enterprises, which is 49%-owned by Coca-Cola Co., also said it repurchased about 1.2 million of its common shares during the third quarter.@@@@1@23@@oe@2-2-2013
22022019@unknown@formal@none@1@S@The buy-back is part of a 25-million-share repurchase plan, under which Coca-Cola Enterprises so far has acquired a total of 9.7 million shares.@@@@1@23@@oe@2-2-2013
22022020@unknown@formal@none@1@S@Separately, Purchase, N.Y.-based PepsiCo Inc., as expected, said fiscal third-quarter net rose 11% to $269.3 million, or $1.02 a share, from $241.6 million, or 91 cents a share.@@@@1@28@@oe@2-2-2013
22022021@unknown@formal@none@1@S@Sales rose 25% to $3.90 billion from $3.13 billion.@@@@1@9@@oe@2-2-2013
22022022@unknown@formal@none@1@S@The year-ago quarter's results include an after-tax charge of $5.9 million from the sale of a winery in Spain.@@@@1@19@@oe@2-2-2013
22022023@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Coca-Cola Enterprises closed at $16.375 a share, down 62.5 cents.@@@@1@19@@oe@2-2-2013
22022024@unknown@formal@none@1@S@PepsiCo closed at $58.50 a share, up $1.375.@@@@1@8@@oe@2-2-2013
22023001@unknown@formal@none@1@S@L.J. Hooker Corp. is expected to reach an agreement in principle this week to sell Merksamer Jewelers Inc. to management, say executives familiar with the talks.@@@@1@26@@oe@2-2-2013
22023002@unknown@formal@none@1@S@L.J. Hooker, based in Atlanta, filed for Chapter 11 bankruptcy protection earlier this year.@@@@1@14@@oe@2-2-2013
22023003@unknown@formal@none@1@S@Currently, its parent company, Hooker Corp. of Sydney, Australia, is being managed by a court-appointed liquidator.@@@@1@16@@oe@2-2-2013
22023004@unknown@formal@none@1@S@It is expected that GE Capital Corp., a financial-services subsidiary of General Electric Co., will provide much of the funding for the proposed leveraged buy-out of Merksamer, based in Sacramento, Calif.@@@@1@31@@oe@2-2-2013
22023005@unknown@formal@none@1@S@A spokesman for GE Capital declined to comment.@@@@1@8@@oe@2-2-2013
22023006@unknown@formal@none@1@S@GE Capital has a working relationship with L.J. Hooker.@@@@1@9@@oe@2-2-2013
22023007@unknown@formal@none@1@S@It is providing $50 million in emergency financing to the company and has agreed to buy as much as $75 million in receivables from B. Altman & Co. and Bonwit Teller, L.J. Hooker's two fully owned department-store chains.@@@@1@38@@oe@2-2-2013
22023008@unknown@formal@none@1@S@Sam Merksamer, chief executive officer of the nationwide jewelry chain, and Sanford Sigoloff, chief executive of L.J. Hooker Corp., both declined to comment.@@@@1@23@@oe@2-2-2013
22023009@unknown@formal@none@1@S@Currently, Mr. Merksamer owns 20% of the company; L.J. Hooker acquired its 80% interest in the firm in May 1986.@@@@1@20@@oe@2-2-2013
22023010@unknown@formal@none@1@S@At the time, the Merksamer chain had 11 stores in operation.@@@@1@11@@oe@2-2-2013
22023011@unknown@formal@none@1@S@Today, there are 77 units, all located in shopping malls.@@@@1@10@@oe@2-2-2013
22023012@unknown@formal@none@1@S@In recent weeks Mr. Merksamer has approached a number of his suppliers and asked them to provide letters of intent saying they will continue shipping merchandise to the chain following the buy-out, say those familiar with the situation.@@@@1@38@@oe@2-2-2013
22023013@unknown@formal@none@1@S@This year, a number of retail leveraged buyouts have failed, causing jitters among suppliers, and Mr. Merksamer apparently wanted assurances that he won't have delivery problems.@@@@1@26@@oe@2-2-2013
22023014@unknown@formal@none@1@S@For the year ended June 30, 1989, Merksamer Jewelers had $62 million of revenue and operating profit of $2.5 million.@@@@1@20@@oe@2-2-2013
22023015@unknown@formal@none@1@S@The jewelery chain was put up for sale in June.@@@@1@10@@oe@2-2-2013
22023016@unknown@formal@none@1@S@According to those familiar with the situation, other bidders included Ratners Group PLC of London and Kay Jewelers Inc.@@@@1@19@@oe@2-2-2013
22023017@unknown@formal@none@1@S@First Boston Corp. is advising L.J. Hooker on the sale of the Merksamer business.@@@@1@14@@oe@2-2-2013
22023018@unknown@formal@none@1@S@Merksamer was the first in a series of retail acquisitions made by L.J. Hooker.@@@@1@14@@oe@2-2-2013
22023019@unknown@formal@none@1@S@The company was founded in Sacramento in 1929 by two brothers, Ralph and Walter Merksamer, who operated as DeVon's Jewelers.@@@@1@20@@oe@2-2-2013
22023020@unknown@formal@none@1@S@In 1979, the pair split the company in half, with Walter and his son, Sam, agreeing to operate under the Merksamer Jewelery name.@@@@1@23@@oe@2-2-2013
22023021@unknown@formal@none@1@S@The sale of Merksamer Jewelers is subject to approval by Judge Tina Brozman of U.S. Bankruptcy Court.@@@@1@17@@oe@2-2-2013
22023022@unknown@formal@none@1@S@As earlier reported, L.J. Hooker this week received a $409 million bid for its three shopping malls, plus other properties from a consortium led by Honolulu real-estate investor Jay Shidler and A. Boyd Simpson, an Atlanta developer and former L.J. Hooker senior executive.@@@@1@43@@oe@2-2-2013
22023023@unknown@formal@none@1@S@The offer, which didn't include the Merksamer chain, is being reviewed by Mr. Sigoloff.@@@@1@14@@oe@2-2-2013
22024001@unknown@formal@none@1@S@Robert J. Regal was named president and chief executive officer of this company's Universal-Rundle Corp. unit.@@@@1@16@@oe@2-2-2013
22024002@unknown@formal@none@1@S@Mr. Regal had been president and chief executive of RBS Industries Inc.@@@@1@12@@oe@2-2-2013
22024003@unknown@formal@none@1@S@Robert H. Carlson, previous president and chief executive of Universal-Rundle, will assume the title of chairman of the unit, a vitreous-china maker.@@@@1@22@@oe@2-2-2013
22025001@unknown@formal@none@1@S@The days may be numbered for animated shows featuring Alf, the Karate Kid and the Chipmunks.@@@@1@16@@oe@2-2-2013
22025002@unknown@formal@none@1@S@NBC, a leader in morning, prime-time and late night programs but an also-ran on Saturday mornings, when children rule the TV set, is contemplating getting out of the cartoon business.@@@@1@30@@oe@2-2-2013
22025003@unknown@formal@none@1@S@Instead, network officials say, it may "counterprogram" with shows for an audience that is virtually ignored in that time period: adults.@@@@1@21@@oe@2-2-2013
22025004@unknown@formal@none@1@S@"There is talk of some revamping and we're certainly heading in the direction of less and less animation," said Joseph S. Cicero, vice president of finance and administration for National Broadcasting Co., a unit of General Electric Co.@@@@1@38@@oe@2-2-2013
22025005@unknown@formal@none@1@S@Mr. Cicero said that NBC Entertainment president Brandon Tartikoff, who declined to be interviewed, is "looking at options now and may put some things into the schedule by mid-season."@@@@1@29@@oe@2-2-2013
22025006@unknown@formal@none@1@S@He declined to elaborate.@@@@1@4@@oe@2-2-2013
22025007@unknown@formal@none@1@S@NBC's options could range from news-oriented programming to sports shows, although the network declined to comment.@@@@1@16@@oe@2-2-2013
22025008@unknown@formal@none@1@S@One major NBC affiliate, KCRA in Sacramento, plans to cancel the NBC Saturday morning line-up as of January and replace it with a local newscast.@@@@1@25@@oe@2-2-2013
22025009@unknown@formal@none@1@S@The one-hour program will be repeated with updates throughout Saturday mornings.@@@@1@11@@oe@2-2-2013
22025010@unknown@formal@none@1@S@"We feel there is an opportunity for an audience that is not being served by any network, so we want to take the lead," says KCRA's general manager, John Kueneke.@@@@1@30@@oe@2-2-2013
22025011@unknown@formal@none@1@S@"We don't need cartoons anymore.@@@@1@5@@oe@2-2-2013
22025012@unknown@formal@none@1@S@They only accounted for 5%, at best, of the station's total revenues."@@@@1@12@@oe@2-2-2013
22025013@unknown@formal@none@1@S@An NBC spokesman says the network will "closely monitor" the Sacramento situation, and says it is the only station to defect.@@@@1@21@@oe@2-2-2013
22025014@unknown@formal@none@1@S@Spokesmen for the television networks of CBS Inc. and Capital Cities/ABC Inc., say there are no plans to alter the children's line-up on Saturday mornings.@@@@1@25@@oe@2-2-2013
22025015@unknown@formal@none@1@S@The youthful audience for Saturday programming is no longer dependent on the networks.@@@@1@13@@oe@2-2-2013
22025016@unknown@formal@none@1@S@There has been a surge in syndicated children's shows to independent stations, as well as competition from videocassettes for kids and from cable outlets such as Nickelodeon and the Disney Channel.@@@@1@31@@oe@2-2-2013
22025017@unknown@formal@none@1@S@At the same time, there appears to be a market for news-oriented programming; Turner Broadcasting System Inc.'s Cable News Network has its highest ratings, outside of prime time, on Saturday mornings.@@@@1@31@@oe@2-2-2013
22025018@unknown@formal@none@1@S@NBC has on previous occasions considered replacing cartoons with a Saturday version of "Today," which is produced by NBC News.@@@@1@20@@oe@2-2-2013
22025019@unknown@formal@none@1@S@The network's own production company, NBC Productions, supplies a half-hour family-oriented show titled "Saved By The Bell."@@@@1@17@@oe@2-2-2013
22025020@unknown@formal@none@1@S@NBC Productions or NBC News could supply the network with other Saturday morning shows, a move that would control costs.@@@@1@20@@oe@2-2-2013
22025021@unknown@formal@none@1@S@Animated shows, which are made by outside production companies, cost the network about $300,000 per episode.@@@@1@16@@oe@2-2-2013
22026001@unknown@formal@none@1@S@Rohm & Haas Co. said third-quarter net income skidded 35% to $32.6 million, or 49 cents a share.@@@@1@18@@oe@2-2-2013
22026002@unknown@formal@none@1@S@In the year-earlier quarter, the chemicals company had net of $49.8 million, or 75 cents a share.@@@@1@17@@oe@2-2-2013
22026003@unknown@formal@none@1@S@Sales were $623 million, up 0.5% from $619.8 million a year ago.@@@@1@12@@oe@2-2-2013
22026004@unknown@formal@none@1@S@Rohm & Haas, which plans to start operating seven new production units this year, attributed the profit slide partly to higher start-up expense.@@@@1@23@@oe@2-2-2013
22026005@unknown@formal@none@1@S@The company also cited the stronger dollar, which cuts the value of overseas profit when it is translated into dollars.@@@@1@20@@oe@2-2-2013
22026006@unknown@formal@none@1@S@In addition, the company said, it was hurt by higher than previous-year costs for raw materials, though those costs have declined since the second quarter.@@@@1@25@@oe@2-2-2013
22026007@unknown@formal@none@1@S@Incrementally higher production of those chemicals which remain in heavy demand also has forced up costs, such as overtime pay.@@@@1@20@@oe@2-2-2013
22026008@unknown@formal@none@1@S@For the nine months, Rohm & Haas net totaled $155 million, or $2.33 a share, down 17% from $187.8 million, or $2.82 a share, a year ago.@@@@1@27@@oe@2-2-2013
22026009@unknown@formal@none@1@S@Sales rose 5.2% to $2.04 billion from $1.94 billion the previous year.@@@@1@12@@oe@2-2-2013
22026010@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Rohm & Haas closed at $33 a share, down $1.75.@@@@1@17@@oe@2-2-2013
22027001@unknown@formal@none@1@S@Michael A. Gaskin, 55 years old, was named president and chief executive officer of this manufacturer of industrial robots, succeeding Walter K. Weisel.@@@@1@23@@oe@2-2-2013
22027002@unknown@formal@none@1@S@Mr. Weisel, 49, resigned as president and chief executive and will work on special projects, said John J. Wallace, chairman.@@@@1@20@@oe@2-2-2013
22027003@unknown@formal@none@1@S@Mr. Gaskin formerly was president and chief executive of Taylor & Gaskin Inc. and was a director of Prab Robots since 1985.@@@@1@22@@oe@2-2-2013
22028001@unknown@formal@none@1@S@Stephen N. Wertheimer was named managing director and group head of investment banking in Asia, based in Tokyo.@@@@1@18@@oe@2-2-2013
22028002@unknown@formal@none@1@S@Mr. Wertheimer, 38 years old, had been a first vice president in the industrial group in investment banking.@@@@1@18@@oe@2-2-2013
22028003@unknown@formal@none@1@S@He succeeds Everett Meyers, who resigned in May.@@@@1@8@@oe@2-2-2013
22029001@unknown@formal@none@1@S@This is written to correct a misquotation in your Oct. 3 article "Deaths From Advanced Colon Cancer Can Be Reduced by Using Two Drugs."@@@@1@24@@oe@2-2-2013
22029002@unknown@formal@none@1@S@In this article, I was alleged to have said, "Any patient with high-risk colon cancer is really getting short shrift if he's not getting this therapy."@@@@1@26@@oe@2-2-2013
22029003@unknown@formal@none@1@S@I didn't say this, and I'm totally opposed to the philosophy expressed by the quote.@@@@1@15@@oe@2-2-2013
22029004@unknown@formal@none@1@S@I have not offered and will not offer routine therapy with the two drugs, levamisole and 5-fluorouracil, to any of my colon-cancer patients.@@@@1@23@@oe@2-2-2013
22029005@unknown@formal@none@1@S@With this treatment we have reduced deaths in high-risk colon cancer by one-third -- but this leaves the two-thirds who are dying of cancer.@@@@1@24@@oe@2-2-2013
22029006@unknown@formal@none@1@S@This is not nearly good enough.@@@@1@6@@oe@2-2-2013
22029007@unknown@formal@none@1@S@I believe any physician who truly cares about cancer patients, both today and tomorrow, should offer the hope of something better than that.@@@@1@23@@oe@2-2-2013
22029008@unknown@formal@none@1@S@My statement, read verbatim from a printed text available to all reporters attending the National Cancer Institute news conference, was the following: "New clinical trials are already in operation seeking to improve these results.@@@@1@34@@oe@2-2-2013
22029009@unknown@formal@none@1@S@These research protocols offer to the patient not only the very best therapy which we have established today but also the hope of something still better.@@@@1@26@@oe@2-2-2013
22029010@unknown@formal@none@1@S@I feel any patient with high-risk cancer is getting short shrift if he is not offered this opportunity."@@@@1@18@@oe@2-2-2013
22029011@unknown@formal@none@1@S@We have very exciting prospects for far more impressive advances in the treatment of colon cancer during the years immediately ahead.@@@@1@21@@oe@2-2-2013
22029012@unknown@formal@none@1@S@This hope, however, will never be realized if we use levamisole and 5-fluorouracil as a stopping point.@@@@1@17@@oe@2-2-2013
22029013@unknown@formal@none@1@S@Charles G. Moertel M.D. Mayo Clinic Rochester, Minn.@@@@1@8@@oe@2-2-2013
22030001@unknown@formal@none@1@S@The oil and auto industries, united in their dislike of President Bush's proposal for cars that run on alternative fuels, announced a joint research program that could turn up a cleaner-burning gasoline.@@@@1@32@@oe@2-2-2013
22030002@unknown@formal@none@1@S@Officials of the Big Three auto makers and 14 petroleum companies said they are setting out to find the most cost-effective fuel for reducing cities' air-pollution problems, with no bias toward any fuel in particular.@@@@1@35@@oe@2-2-2013
22030003@unknown@formal@none@1@S@However, their search notably won't include natural gas or pure methanol -- the two front-running alternative fuels -- in tests to be completed by next summer.@@@@1@26@@oe@2-2-2013
22030004@unknown@formal@none@1@S@Instead, the tests will focus heavily on new blends of gasoline, which are still undeveloped but which the petroleum industry has been touting as a solution for automobile pollution that is choking urban areas.@@@@1@34@@oe@2-2-2013
22030005@unknown@formal@none@1@S@Environmentalists criticized the program as merely a public-relations attempt to head off a White House proposal to require a million cars a year that run on cleaner-burning fuels by 1997.@@@@1@30@@oe@2-2-2013
22030006@unknown@formal@none@1@S@While major oil companies have been experimenting with cleaner-burning gasoline blends for years, only Atlantic Richfield Co. is now marketing a lower-emission gasoline for older cars currently running on leaded fuel.@@@@1@31@@oe@2-2-2013
22030007@unknown@formal@none@1@S@The initial $11 million research program will conduct the most extensive testing to date of reformulated gasolines, said Joe Colucci, head of fuels and lubricants at General Motors Corp. research laboratories.@@@@1@31@@oe@2-2-2013
22030008@unknown@formal@none@1@S@It will compare 21 different blends of gasolines with three mixtures of up to 85% methanol.@@@@1@16@@oe@2-2-2013
22030009@unknown@formal@none@1@S@A second phase of research, which is still being planned, will test reformulated gasolines on newer engine technologies now being developed for use in 1992 or 1993 cars.@@@@1@28@@oe@2-2-2013
22030010@unknown@formal@none@1@S@There was no cost estimate for the second phase.@@@@1@9@@oe@2-2-2013
22030011@unknown@formal@none@1@S@"The whole idea here is the automobile and oil companies have joint customers," said Keith McHenry, a senior vice president of technology at Amoco Corp.@@@@1@25@@oe@2-2-2013
22030012@unknown@formal@none@1@S@"And we are looking for the most cost-effective way to clean up the air."@@@@1@14@@oe@2-2-2013
22030013@unknown@formal@none@1@S@But David Hawkins, an environmental lawyer with the Natural Resources Defense Council, said the research appears merely to be a way to promote reformulated gasoline.@@@@1@25@@oe@2-2-2013
22030014@unknown@formal@none@1@S@Oil and auto companies supported a move on Capitol Hill last week to gut Mr. Bush's plans to require auto makers to begin selling alternative-fueled cars by 1995.@@@@1@28@@oe@2-2-2013
22030015@unknown@formal@none@1@S@Instead, a House subcommittee adopted a clean-fuels program that specifically mentions reformulated gasoline as an alternative.@@@@1@16@@oe@2-2-2013
22030016@unknown@formal@none@1@S@The Bush administration has said it will try to resurrect its plan when the House Energy and Commerce Committee takes up a comprehensive clean-air bill.@@@@1@25@@oe@2-2-2013
22031001@unknown@formal@none@1@S@William Seidman, chairman of the Federal Deposit Insurance Corp., said Lincoln Savings & Loan Association should have been seized by the government in 1986 to contain losses that he estimated will cost taxpayers as much as $2 billion.@@@@1@38@@oe@2-2-2013
22031002@unknown@formal@none@1@S@Mr. Seidman, who has been the nation's top bank regulator, inherited the problems of Lincoln, based in Irvine, Calif., after his regulatory role was expanded by the new savings-and-loan bailout law.@@@@1@31@@oe@2-2-2013
22031003@unknown@formal@none@1@S@He made his comments before House Banking Committee hearings to investigate what appears to be the biggest thrift disaster in a scandal-ridden industry.@@@@1@23@@oe@2-2-2013
22031004@unknown@formal@none@1@S@The inquiry also will cover the actions of Charles Keating Jr., who is chairman of American Continental Corp., Lincoln's parent, and who contributed heavily to several U.S. senators.@@@@1@28@@oe@2-2-2013
22031005@unknown@formal@none@1@S@Mr. Seidman told the committee that the Resolution Trust Corp., the agency created to sell sick thrifts, has studied Lincoln's examination reports by former regulators dating back to 1986.@@@@1@29@@oe@2-2-2013
22031006@unknown@formal@none@1@S@"My staff indicated that had we made such findings in one of our own institutions, we would have sought an immediate cease-and-desist order to stop the hazardous operations," Mr. Seidman said.@@@@1@31@@oe@2-2-2013
22031007@unknown@formal@none@1@S@When Lincoln was seized by the government, for example, 15% of its loans, or $250 million, were to borrowers who were buying real estate from one of American Continental's 50 other subsidiaries, according to Mr. Seidman.@@@@1@36@@oe@2-2-2013
22031008@unknown@formal@none@1@S@But the government didn't step in until six months ago, when thrift officials put Lincoln into conservatorship -- the day after American Continental filed for Chapter 11 bankruptcy protection from creditors.@@@@1@31@@oe@2-2-2013
22031009@unknown@formal@none@1@S@The bankruptcy filing, the government has charged in a $1.1 billion civil lawsuit, was part of a pattern to shift insured deposits to the parent company, which used the deposits as a cache for real-estate deals.@@@@1@36@@oe@2-2-2013
22031010@unknown@formal@none@1@S@The deposits that have been transferred to other subsidiaries are now under the jurisdiction of the bankruptcy court.@@@@1@18@@oe@2-2-2013
22031011@unknown@formal@none@1@S@"I think it's fairly clear {Mr. Keating} knew," that regulators were set to seize Lincoln, Mr. Seidman said.@@@@1@18@@oe@2-2-2013
22031012@unknown@formal@none@1@S@Further investigation, he said, may result in further actions against Lincoln's executives, said Mr. Seidman, "including fraud actions."@@@@1@18@@oe@2-2-2013
22031013@unknown@formal@none@1@S@Mr. Keating, for his part, has filed suit alleging that regulators unlawfully seized the thrift.@@@@1@15@@oe@2-2-2013
22031014@unknown@formal@none@1@S@Leonard Bickwit, an attorney in Washington for Mr. Keating, declined to comment on the hearings, except to say, "We will be responding comprehensively in several forums to each of these allegations at the appropriate time."@@@@1@35@@oe@2-2-2013
22031015@unknown@formal@none@1@S@Lincoln's treatment by former thrift regulators, in an agency disbanded by the new law, has proved embarrassing for five senators who received thousands of dollars in campaign contributions from Mr. Keating.@@@@1@31@@oe@2-2-2013
22031016@unknown@formal@none@1@S@Mr. Seidman said yesterday, for example, that Sen. Dennis DeConcini (D., Ariz.), who received $48,100 in contributions from Mr. Keating, phoned Mr. Seidman to request that he push for a sale of Lincoln before it would be seized.@@@@1@38@@oe@2-2-2013
22031017@unknown@formal@none@1@S@After the government lawsuit was filed against Lincoln, Sen. DeConcini returned the campaign contributions.@@@@1@14@@oe@2-2-2013
22031018@unknown@formal@none@1@S@The senator's spokesman said yesterday that he pushed for the sale of Lincoln because "hundreds of Arizona jobs {at Lincoln} were on the line."@@@@1@24@@oe@2-2-2013
22031019@unknown@formal@none@1@S@Senate Banking Committee Chairman Donald Riegle (D., Mich.) has also returned contributions he received from Mr. Keating a year ago.@@@@1@20@@oe@2-2-2013
22031020@unknown@formal@none@1@S@Sens. John Glenn (D., Ohio), John McCain, (R., Ariz.) and Alan Cranston (D., Calif.) also received substantial contributions from Mr. Keating and sought to intervene on behalf of Lincoln.@@@@1@29@@oe@2-2-2013
22031021@unknown@formal@none@1@S@House Banking Committee Chairman Henry Gonzalez (D., Texas) said Sen. Cranston volunteered to appear before the House committee, if necessary.@@@@1@20@@oe@2-2-2013
22031022@unknown@formal@none@1@S@But a committee staff member said the panel is unlikely to pursue closely the role of the senators.@@@@1@18@@oe@2-2-2013
22031023@unknown@formal@none@1@S@At the hearing, Mr. Seidman said the RTC has already pumped $729 million into Lincoln for liquidity.@@@@1@17@@oe@2-2-2013
22031024@unknown@formal@none@1@S@He also held out little hope of restitution for purchasers of $225 million in American Continental subordinated debt.@@@@1@18@@oe@2-2-2013
22031025@unknown@formal@none@1@S@Some of those debtholders have filed a suit, saying they believed they were buying government-insured certificates of deposit.@@@@1@18@@oe@2-2-2013
22031026@unknown@formal@none@1@S@"We have no plans at this time to pay off those notes," he said.@@@@1@14@@oe@2-2-2013
22032001@unknown@formal@none@1@S@Eastern Airlines' creditors committee, unhappy with the carrier's plans for emerging from bankruptcy-law proceedings, asked its own experts to devise alternate approaches to a reorganization.@@@@1@25@@oe@2-2-2013
22032002@unknown@formal@none@1@S@Representatives of the accounting firm of Ernst & Young and the securities firm of Goldman, Sachs & Co., hired by creditors to consult on Eastern's financial plans, told the committee in a private meeting yesterday that Eastern's latest plan to emerge from bankruptcy-law protection is far riskier than an earlier one which won the creditors' approval.@@@@1@56@@oe@2-2-2013
22032003@unknown@formal@none@1@S@According to one person present at the meeting, Eastern's new plan is financially "overly optimistic."@@@@1@15@@oe@2-2-2013
22032004@unknown@formal@none@1@S@Asked about the consultants' reports, an Eastern spokeswoman said "we totally disagree."@@@@1@12@@oe@2-2-2013
22032005@unknown@formal@none@1@S@She said they have "oversimplified and made some erroneous assumptions that make their analysis completely off-base."@@@@1@16@@oe@2-2-2013
22032006@unknown@formal@none@1@S@At a later news conference here, Frank Lorenzo, chairman of Eastern's parent Texas Air Corp., said Eastern was exceeding its goals for getting back into operation and predicted it would emerge from Chapter 11 protection from creditors early next year, operating with more service than it originally had scheduled.@@@@1@49@@oe@2-2-2013
22032007@unknown@formal@none@1@S@He insisted, as he has before, that creditors would be paid in full under the plan.@@@@1@16@@oe@2-2-2013
22032008@unknown@formal@none@1@S@Mr. Lorenzo made no mention of creditors' negative response to his plan.@@@@1@12@@oe@2-2-2013
22032009@unknown@formal@none@1@S@"We're in the process of discussing an amended plan with the creditors and anticipate filing that amended plan shortly," Mr. Lorenzo told reporters.@@@@1@23@@oe@2-2-2013
22032010@unknown@formal@none@1@S@"We're meeting and surpassing our goals," he added.@@@@1@8@@oe@2-2-2013
22032011@unknown@formal@none@1@S@In July, Eastern and its creditors agreed on a reorganization plan that called for Eastern to sell $1.8 billion in assets and to emerge from bankruptcy-law protection at two-thirds its former size.@@@@1@32@@oe@2-2-2013
22032012@unknown@formal@none@1@S@But after selling off pieces such as its East Coast shuttle, its Philadelphia hub and various planes, Eastern hit a stumbling block.@@@@1@22@@oe@2-2-2013
22032013@unknown@formal@none@1@S@It couldn't sell its South American routes, one of the major assets marked for disposal.@@@@1@15@@oe@2-2-2013
22032014@unknown@formal@none@1@S@Those routes, valued by the creditors' professionals at about $400 million, were to be sold to AMR Corp.'s American Airlines.@@@@1@20@@oe@2-2-2013
22032015@unknown@formal@none@1@S@A last-minute snag in negotiations with AMR, over an unrelated lawsuit between American and another Texas Air unit, caused the deal to collapse.@@@@1@23@@oe@2-2-2013
22032016@unknown@formal@none@1@S@Eastern ultimately decided it would have to keep and operate the routes itself, which would leave it with less cash for its reorganization.@@@@1@23@@oe@2-2-2013
22032017@unknown@formal@none@1@S@It also would leave Eastern a bigger carrier than the scaled-down one proposed under the initial plan.@@@@1@17@@oe@2-2-2013
22032018@unknown@formal@none@1@S@Those changes in its condition meant the reorganization plan previously presented to creditors would have to be revamped.@@@@1@18@@oe@2-2-2013
22032019@unknown@formal@none@1@S@Since then, Eastern has been negotiating with creditors over revisions, but the creditors committee has been having problems with the revisions.@@@@1@21@@oe@2-2-2013
22032020@unknown@formal@none@1@S@The committee has two groups of experts it calls on to analyze Eastern's plans.@@@@1@14@@oe@2-2-2013
22032021@unknown@formal@none@1@S@Both said the new plan wouldn't work.@@@@1@7@@oe@2-2-2013
22032022@unknown@formal@none@1@S@Ernst & Young said Eastern's plans will miss its projections of earnings before interest, tax and depreciation by $100 million, and that Eastern's plan presented no comfort level, according to a source present at yesterday's session.@@@@1@36@@oe@2-2-2013
22032023@unknown@formal@none@1@S@Experts from Goldman Sachs estimated Eastern would miss the same mark by $120 million to $135 million, the source said.@@@@1@20@@oe@2-2-2013
22032024@unknown@formal@none@1@S@The experts said they expected Eastern would have to issue new debt to cover its costs, and that it would generate far less cash than anticipated.@@@@1@26@@oe@2-2-2013
22032025@unknown@formal@none@1@S@Other costs also would increase, including maintenance, because Eastern has an older fleet.@@@@1@13@@oe@2-2-2013
22032026@unknown@formal@none@1@S@At the news conference, Mr. Lorenzo and Eastern President Phil Bakes presented a far rosier assessment.@@@@1@16@@oe@2-2-2013
22032027@unknown@formal@none@1@S@Flanked by flight attendants, pilots and gate agents dressed in spiffy new blue uniforms, they said Eastern has exceeded its operational goals and is filling its seats.@@@@1@27@@oe@2-2-2013
22032028@unknown@formal@none@1@S@Starting next month, Eastern will begin flying 775 flights daily instead of the previously announced 700, they said.@@@@1@18@@oe@2-2-2013
22032029@unknown@formal@none@1@S@Mr. Bakes declined to give out Eastern's daily losses, but said he didn't expect Eastern would have to dip into the cash from asset sales currently held in escrow.@@@@1@29@@oe@2-2-2013
22032030@unknown@formal@none@1@S@These accounts hold several hundred million dollars, primarily from asset sales.@@@@1@11@@oe@2-2-2013
22032031@unknown@formal@none@1@S@The plan Eastern hopes to pursue, he said, calls for Eastern to have $390 million in cash by year's end.@@@@1@20@@oe@2-2-2013
22032032@unknown@formal@none@1@S@Both he and Mr. Lorenzo predicted that plan might be confirmed in January.@@@@1@13@@oe@2-2-2013
22032033@unknown@formal@none@1@S@As to negotiations with creditors, Mr. Lorenzo said in remarks after the conference "we'll have to see how they {talks} come along."@@@@1@22@@oe@2-2-2013
22032034@unknown@formal@none@1@S@However, he added, "it's not a requirement that the plan be accepted by creditors.@@@@1@14@@oe@2-2-2013
22032035@unknown@formal@none@1@S@It must be accepted by the court."@@@@1@7@@oe@2-2-2013
22032036@unknown@formal@none@1@S@Under bankruptcy law, Eastern has exclusive rights for a certain period to develop its own reorganization plan.@@@@1@17@@oe@2-2-2013
22032037@unknown@formal@none@1@S@That deadline has been extended once and could be extended again.@@@@1@11@@oe@2-2-2013
22032038@unknown@formal@none@1@S@If Eastern can get creditor support, court confirmation of its plan could be relatively swift.@@@@1@15@@oe@2-2-2013
22032039@unknown@formal@none@1@S@But creditors are free to press for court approval of their own plan, or the court could ignore both sides and draw its own.@@@@1@24@@oe@2-2-2013
22032040@unknown@formal@none@1@S@In any event, some people familiar with the case question whether the court will act by January as forecast by Mr. Lorenzo and Mr. Bakes.@@@@1@25@@oe@2-2-2013
22032041@unknown@formal@none@1@S@Eastern sought bankruptcy-law protection a few days after a crippling strike began March 4.@@@@1@14@@oe@2-2-2013
22032042@unknown@formal@none@1@S@Mr. Lorenzo told reporters the reorganization Eastern is pursuing would create a carrier 85% to 90% of the size of the pre-bankruptcy Eastern.@@@@1@23@@oe@2-2-2013
22032043@unknown@formal@none@1@S@He projected it would be operating about 1,000 flights a day by late spring, only slightly fewer than the carrier's old volume of 1,050 a day.@@@@1@26@@oe@2-2-2013
22033001@unknown@formal@none@1@S@HOPES OF SIMPLIFYING the corporate minimum tax before 1990 are weakening.@@@@1@11@@oe@2-2-2013
22033002@unknown@formal@none@1@S@The method of calculating the 20% tax, paid if it exceeds tax figured the regular way, is due for a change in 1990, thanks to 1986's tax act.@@@@1@28@@oe@2-2-2013
22033003@unknown@formal@none@1@S@But most experts agree that the concept that is to be introduced drags in great complexity; they have been trying to head it off this year.@@@@1@26@@oe@2-2-2013
22033004@unknown@formal@none@1@S@Ways and Means Chairman Rostenkowski backed a simplification plan in the pending House tax bill, but the plan turns out to be a big revenue loser.@@@@1@26@@oe@2-2-2013
22033005@unknown@formal@none@1@S@Now the Senate's stripped-down bill omits any proposal to deal with the corporate tax.@@@@1@14@@oe@2-2-2013
22033006@unknown@formal@none@1@S@Proponents of simplification fear that the chances of getting it into the final bill are waning.@@@@1@16@@oe@2-2-2013
22033007@unknown@formal@none@1@S@"We hear it has low priority on the House side," says Samuel Starr of Coopers & Lybrand, CPAs.@@@@1@18@@oe@2-2-2013
22033008@unknown@formal@none@1@S@If the law isn't changed, he says, "we are left staring at rules that are almost impossible to implement, because there are so many complex depreciation calculations to do."@@@@1@29@@oe@2-2-2013
22033009@unknown@formal@none@1@S@But Congress still could resolve the issue with other legislation this year or next, Starr adds.@@@@1@16@@oe@2-2-2013
22033010@unknown@formal@none@1@S@HUGO'S RAVAGES may be offset by immediate claims for tax refunds.@@@@1@11@@oe@2-2-2013
22033011@unknown@formal@none@1@S@This law aids hurricane-wracked locales named by the president as disaster areas, as well as regions so designated after other 1989 disasters.@@@@1@22@@oe@2-2-2013
22033012@unknown@formal@none@1@S@It lets victims elect to deduct casualty losses on either 1989 or amended 1988 returns, whichever offers the larger tax benefit; they have until April 16 to choose.@@@@1@28@@oe@2-2-2013
22033013@unknown@formal@none@1@S@Amending a 1988 return to claim a refund brings cash faster; but for personal losses, there are other factors to consider, notes publisher Prentice Hall.@@@@1@25@@oe@2-2-2013
22033014@unknown@formal@none@1@S@A loss -- after insurance recoveries -- is deductible only to the extent that it exceeds $100 and that the year's total losses exceed 10% of adjusted gross income; victims may pick the year when income is lower and deductions higher.@@@@1@41@@oe@2-2-2013
22033015@unknown@formal@none@1@S@In filing an original (not amended) return, a couple should consider whether damaged property is owned jointly or separately and whether one spouse has larger income; that may determine whether they should file jointly or separately.@@@@1@36@@oe@2-2-2013
22033016@unknown@formal@none@1@S@THE IRS DELAYS several deadlines for Hugo's victims.@@@@1@8@@oe@2-2-2013
22033017@unknown@formal@none@1@S@Returns for 1988 from people with six-month filing extensions were due Monday, but the IRS says people in the disaster areas won't be penalized for late filing if their returns are marked "Hugo" and postmarked by Jan. 16.@@@@1@38@@oe@2-2-2013
22033018@unknown@formal@none@1@S@Interest will be imposed on unpaid taxes, but late-payment penalties on the returns will be waived if the balance due and paid is 10% or less of the liability.@@@@1@29@@oe@2-2-2013
22033019@unknown@formal@none@1@S@IRS Notice 89-136 describes this and other deadline relief for Hugo's victims.@@@@1@12@@oe@2-2-2013
22033020@unknown@formal@none@1@S@Among the provisions: Fiscal-year taxpayers with returns due last Monday won't be penalized if they file -- or request an extension -- and pay tax due by Nov. 15.@@@@1@29@@oe@2-2-2013
22033021@unknown@formal@none@1@S@Excise-tax returns due by Oct. 31 or Nov. 30 may be delayed to Jan. 16.@@@@1@15@@oe@2-2-2013
22033022@unknown@formal@none@1@S@Extensions can't be granted for filing employment-tax returns due Oct. 31 or for depositing withheld taxes, but late penalties will be abated for deposits made by Nov. 15.@@@@1@28@@oe@2-2-2013
22033023@unknown@formal@none@1@S@The notice also grants relief for certain estate-tax returns.@@@@1@9@@oe@2-2-2013
22033024@unknown@formal@none@1@S@ONE-DAY JAUNTS in a chartered boat were perks for permanent staffers of American Business Service Corp., a Costa Mesa, Calif., supplier of temporary workers.@@@@1@24@@oe@2-2-2013
22033025@unknown@formal@none@1@S@The IRS denied cost deductions because few of the temps got to go aboard.@@@@1@14@@oe@2-2-2013
22033026@unknown@formal@none@1@S@But the Tax Court said the limitations were reasonable and realistic and allowed the deductions.@@@@1@15@@oe@2-2-2013
22033027@unknown@formal@none@1@S@USED-CAR BUYERS who try to avoid sales tax by understating prices paid in private deals are the targets of a New York drive.@@@@1@23@@oe@2-2-2013
22033028@unknown@formal@none@1@S@Estimating that the state may lose $15 million a year, officials announced the filing of 15 criminal actions and "hundreds" of civil penalties.@@@@1@23@@oe@2-2-2013
22033029@unknown@formal@none@1@S@WHEN AN IRA OWNER dies, the trustee of the individual retirement account must file forms 5498 reporting market values relating to the decedent and each beneficiary, with copies to the executor and beneficiaries.@@@@1@33@@oe@2-2-2013
22033030@unknown@formal@none@1@S@IRS Revenue Procedure 89-52 describes the reporting requirements.@@@@1@8@@oe@2-2-2013
22033031@unknown@formal@none@1@S@BIGGER THAN A BREADBOX was this cash hoarder's reputation for honesty.@@@@1@11@@oe@2-2-2013
22033032@unknown@formal@none@1@S@People often cite frugality and distrust of banks to justify cash caches to the IRS.@@@@1@15@@oe@2-2-2013
22033033@unknown@formal@none@1@S@Gregory Damonne Brown of Fremont, Calif., a hardworking, reclusive young bachelor, told that story to the Tax Court.@@@@1@18@@oe@2-2-2013
22033034@unknown@formal@none@1@S@But judges usually find the real aim is to escape tax on hidden income; and the IRS said Brown must have had such income -- although it uncovered no source -- because he deposited $124,732 in a bank account in 1982-84 while reporting income of only $52,012.@@@@1@47@@oe@2-2-2013
22033035@unknown@formal@none@1@S@Brown's story:@@@@1@2@@oe@2-2-2013
22033036@unknown@formal@none@1@S@The deposits came from savings kept in a Tupperware breadbox; he saved $47,000 in 1974-81 by living with family members and pinching pennies and $45,000 of secret gifts from his remorseful father, who had abandoned the family in 1955.@@@@1@39@@oe@2-2-2013
22033037@unknown@formal@none@1@S@Brown had no proof; but testimony of his mother and stepmother about his father and of an ex-employer about his honesty and habits satisfied a judge that Brown was truthful and his tale of gifts was possible.@@@@1@37@@oe@2-2-2013
22033038@unknown@formal@none@1@S@The IRS offered no evidence of hidden sources of taxable income, so Judge Shields rejected its claims.@@@@1@17@@oe@2-2-2013
22033039@unknown@formal@none@1@S@BRIEFS:@@@@1@1@@oe@2-2-2013
22033040@unknown@formal@none@1@S@Asked how he made charitable gifts of $26,350 out of reported two-year income of $46,892, Thomas H. McFall of Bryan, Texas, told the Tax Court he had understated his income.@@@@1@30@@oe@2-2-2013
22033041@unknown@formal@none@1@S@The court rejected his incredible claims, denied his deductions, and imposed a negligence penalty. . . .@@@@1@17@@oe@2-2-2013
22033042@unknown@formal@none@1@S@Rep. Schaefer (R., Colo.) entered a bill to exempt from tax rewards for tips leading to the arrest of violent criminals.@@@@1@21@@oe@2-2-2013
22034001@unknown@formal@none@1@S@Kay Peterson mounts her bicycle and grinds up yet another steep, rocky path seemingly suitable only for mountain goats.@@@@1@19@@oe@2-2-2013
22034002@unknown@formal@none@1@S@After a tortuous climb, she is rewarded by a picture-postcard vista: a glade of golden aspens under an azure Indian-summer sky.@@@@1@21@@oe@2-2-2013
22034003@unknown@formal@none@1@S@This place is 12 miles into the back country -- a day-long trudge for a hiker, but reached by Ms. Peterson and six others in a mere two hours of pedaling fat-tired mountain bikes.@@@@1@34@@oe@2-2-2013
22034004@unknown@formal@none@1@S@"This," says Ms. Peterson, "is what it's all about."@@@@1@9@@oe@2-2-2013
22034005@unknown@formal@none@1@S@Twelve hundred miles away, rangers at a Napa County, Calif., state park are among the many who don't quite share the enthusiasm.@@@@1@22@@oe@2-2-2013
22034006@unknown@formal@none@1@S@This summer, speeding bikers were blamed for an accident in the Napa County park, in which a horse -- spooked on a trail that was closed to bikers -- broke its leg.@@@@1@32@@oe@2-2-2013
22034007@unknown@formal@none@1@S@The animal had to be destroyed; the bikers fled and were never found.@@@@1@13@@oe@2-2-2013
22034008@unknown@formal@none@1@S@In numerous parks near San Francisco, rangers have been forced to close trails, set up speed traps and use radar guns to curb fast and reckless riding.@@@@1@27@@oe@2-2-2013
22034009@unknown@formal@none@1@S@They have even sent helicopters in pursuit of bikers after hikers and equestrians complained they were being driven from trails.@@@@1@20@@oe@2-2-2013
22034010@unknown@formal@none@1@S@"We were being overrun," says Steve Fiala, trails coordinator of the East Bay Regional Park District.@@@@1@16@@oe@2-2-2013
22034011@unknown@formal@none@1@S@Two years ago, the district decided to limit the bikes to fire roads in its 65,000 hilly acres.@@@@1@18@@oe@2-2-2013
22034012@unknown@formal@none@1@S@From about 200,000 six years ago, the number of mountain bikes in the U.S. is expected to grow to 10 million in 1990.@@@@1@23@@oe@2-2-2013
22034013@unknown@formal@none@1@S@At least half that growth will have come in the past three years alone.@@@@1@14@@oe@2-2-2013
22034014@unknown@formal@none@1@S@The controversy kicked up by the proliferation of these all-terrain bicycles is one of the most divisive storms to blow through the national conservation movement in recent memory.@@@@1@28@@oe@2-2-2013
22034015@unknown@formal@none@1@S@Bikers -- many of them ardent environmentalists -- proclaim their sport an efficient, safe, fitness-promoting way to get back to nature, while asserting a right, as taxpayers, to pedal on public lands.@@@@1@32@@oe@2-2-2013
22034016@unknown@formal@none@1@S@But the bikes' burgeoning numbers, safety concerns and fear that they damage fragile landscapes have prompted pleas, from the Sierras to the Eastern Seaboard, to ban them from the back country.@@@@1@31@@oe@2-2-2013
22034017@unknown@formal@none@1@S@Key to the issue is that the bikes, in skillful hands, can go virtually anywhere, and in reckless hands can become vehicles of terror.@@@@1@24@@oe@2-2-2013
22034018@unknown@formal@none@1@S@An adept bicyclist can leap from a dead stop to the top of a picnic table without losing balance.@@@@1@19@@oe@2-2-2013
22034019@unknown@formal@none@1@S@Such skills allow riders to fly down treacherous mountain grades at speeds of up to 40 miles an hour -- a thrill for the cyclist but a nightmare for unsuspecting hikers or equestrians.@@@@1@33@@oe@2-2-2013
22034020@unknown@formal@none@1@S@For harried public-land managers across the nation, the response is increasingly to shut the gates.@@@@1@15@@oe@2-2-2013
22034021@unknown@formal@none@1@S@The state of California, following the lead of some regional parks, recently adopted regulations that closed nearly all hiking paths in state parks to mountain bicycles.@@@@1@26@@oe@2-2-2013
22034022@unknown@formal@none@1@S@The move largely consigns them to roads used by motorized vehicles.@@@@1@11@@oe@2-2-2013
22034023@unknown@formal@none@1@S@Most other states have enacted similar bans.@@@@1@7@@oe@2-2-2013
22034024@unknown@formal@none@1@S@The bikes are unwelcome on trails in national parks.@@@@1@9@@oe@2-2-2013
22034025@unknown@formal@none@1@S@Even the U.S. Forest Service, whose lenient "multiple-use" philosophy permits motorized vehicles on thousands of miles of its trails across the U.S., has begun to close some lands to the bikes, including major portions of the popular Pacific Crest Trail, which stretches from California to Canada.@@@@1@46@@oe@2-2-2013
22034026@unknown@formal@none@1@S@Often these closings come after vigorous anti-bike lobbying by conservation organizations, the politically potent Sierra Club among them.@@@@1@18@@oe@2-2-2013
22034027@unknown@formal@none@1@S@Sierra has been instrumental in securing a number of the California bans.@@@@1@12@@oe@2-2-2013
22034028@unknown@formal@none@1@S@It has been waging an all-out campaign to beat back a proposal, pushed by Utah bike groups, to allow the cycles in federally designated wilderness areas, where they are now prohibited.@@@@1@31@@oe@2-2-2013
22034029@unknown@formal@none@1@S@Yet Sierra's hard-line stance has created something of a rift in the organization, which estimates that 17% of its 500,000 members own mountain bikes.@@@@1@24@@oe@2-2-2013
22034030@unknown@formal@none@1@S@Pressure from these members prompted the club recently to soften its anti-bike rhetoric; it no longer, for example, lumps the bikes into the same category as motorcycles and other terrain-marring off-road vehicles.@@@@1@32@@oe@2-2-2013
22034031@unknown@formal@none@1@S@But the club still insists that public lands ought to be closed to the bikes unless studies indicate the bikes won't injure the environment or other users.@@@@1@27@@oe@2-2-2013
22034032@unknown@formal@none@1@S@"I have a mountain bike, yet as a hiker I've been run off the road by kids careening down a fire trail on them," says Gene Coan, an official at Sierra's headquarters in San Francisco, echoing the concerns of many members.@@@@1@41@@oe@2-2-2013
22034033@unknown@formal@none@1@S@"People who feel that cyclists should be banned from an area aren't looking at the whole picture," complains Mark Langton, associate editor of Mountain and City Biking magazine in Canoga Park, Calif.@@@@1@32@@oe@2-2-2013
22034034@unknown@formal@none@1@S@Mr. Langton is among the legions of bikers who got their first taste of wilderness as hikers or backpackers.@@@@1@19@@oe@2-2-2013
22034035@unknown@formal@none@1@S@He says fellow bikers show the same concern for the land that they demonstrated as hikers; many are appalled that the conservation community would suddenly consider them the enemy.@@@@1@29@@oe@2-2-2013
22034036@unknown@formal@none@1@S@To fight back, activists such as Mr. Langton are forming groups to lobby land managers over access issues and undertake education programs to show that the bikes can responsibly share trails.@@@@1@31@@oe@2-2-2013
22034037@unknown@formal@none@1@S@Mr. Langton's group, Concerned Off-Road Bicyclists Association, mounted petition drives to help keep open certain Santa Monica Mountain trails designated for closing.@@@@1@22@@oe@2-2-2013
22034038@unknown@formal@none@1@S@Biking groups in Montana, Idaho, Michigan and Massachusetts have won similar concessions, says Tim Blumenthal, mountain bike editor of Bicycling magazine.@@@@1@21@@oe@2-2-2013
22034039@unknown@formal@none@1@S@These groups have been trying to improve the mountain biker's image; in the San Francisco-area park district where a ranger was clobbered by a cyclist this summer bikers have formed a volunteer patrol to help rangers enforce regulations, and to school riders in proper trail etiquette.@@@@1@46@@oe@2-2-2013
22034040@unknown@formal@none@1@S@Even staunch anti-bike Sierra members concede that 10% of all riders cause most of the problems.@@@@1@16@@oe@2-2-2013
22034041@unknown@formal@none@1@S@While some are renegade riders who simply scorn regulations, much bad riding simply reflects ignorance that can be corrected through "education and peer pressure," says Jim Hasenauer, a director of the International Mountain Biking Association.@@@@1@35@@oe@2-2-2013
22034042@unknown@formal@none@1@S@"I think we're making progress."@@@@1@5@@oe@2-2-2013
22034043@unknown@formal@none@1@S@Few would have foreseen such a furor when, a decade ago, some Marin County bicycle enthusiasts created a hybrid bike using fat tires, lightweight metallurgy and multi-gear technology.@@@@1@28@@oe@2-2-2013
22034044@unknown@formal@none@1@S@They wanted a machine that would allow them to pedal into rugged terrain then inaccessible to cycles.@@@@1@17@@oe@2-2-2013
22034045@unknown@formal@none@1@S@They got a machine more responsive, more stable and in many ways easier to ride than the thin-tired racing bikes that then were the rage.@@@@1@25@@oe@2-2-2013
22034046@unknown@formal@none@1@S@When the bikes first entered mass production in 1981, they were dismissed as a fad.@@@@1@15@@oe@2-2-2013
22034047@unknown@formal@none@1@S@Last year, 25% of the 10 million bicycles sold in the U.S. were mountain bikes.@@@@1@15@@oe@2-2-2013
22034048@unknown@formal@none@1@S@In California, a bellwether market, they accounted for more than 80% of all bike sales.@@@@1@15@@oe@2-2-2013
22034049@unknown@formal@none@1@S@The majority of the bikes never even make it into the high country.@@@@1@13@@oe@2-2-2013
22034050@unknown@formal@none@1@S@City dwellers love them because they shift smoothly in traffic, bounce easily over curbs and roll through road glass with far fewer flat tires than racing bikes.@@@@1@27@@oe@2-2-2013
22034051@unknown@formal@none@1@S@Crested Butte, population 1,200, is a bastion of the sport.@@@@1@10@@oe@2-2-2013
22034052@unknown@formal@none@1@S@By one estimate, everyone here under 50 owns at least one bike.@@@@1@12@@oe@2-2-2013
22034053@unknown@formal@none@1@S@The town is home to the Mountain Bike Hall of Fame and it hosts the annual Fat Tire Bike Week.@@@@1@20@@oe@2-2-2013
22034054@unknown@formal@none@1@S@This summer, the jamboree attracted more visitors than the busiest week of the town's winter ski season.@@@@1@17@@oe@2-2-2013
22034055@unknown@formal@none@1@S@David Lindsey, chairman of the Fat Tire Bike celebration, muses that the bike's popularity may be a combination of technology and nostalgia.@@@@1@22@@oe@2-2-2013
22034056@unknown@formal@none@1@S@"The mountain bike feels as comfortable as the `paperboy' bike you had as a kid, but it can do so much more," he says.@@@@1@24@@oe@2-2-2013
22035001@unknown@formal@none@1@S@The following issues were recently filed with the Securities and Exchange Commission:@@@@1@12@@oe@2-2-2013
22035002@unknown@formal@none@1@S@Canada's Province of Nova Scotia, shelf offering of up to $550 million of debentures.@@@@1@14@@oe@2-2-2013
22035003@unknown@formal@none@1@S@Golar Gas Holding Co., a subsidiary of Gotaas-Larsen Shipping Corp., offering of $280 million first preferred ship mortgage notes, via Merrill Lynch Capital Markets.@@@@1@24@@oe@2-2-2013
22035004@unknown@formal@none@1@S@H.F. Ahmanson & Co., offering of four million shares of noncumulative convertible preferred stock, Series B., via Goldman, Sachs & Co, First Boston Corp., and Merrill Lynch.@@@@1@27@@oe@2-2-2013
22035005@unknown@formal@none@1@S@Shared Technologies Inc., offering of 2.5 million common shares, via Smetek, Van Horn & Cormack Inc. and Oakes, Fitzwilliams & Co.@@@@1@21@@oe@2-2-2013
22036001@unknown@formal@none@1@S@Stock-market tremors again shook bond prices, while the dollar turned in a mixed performance.@@@@1@14@@oe@2-2-2013
22036002@unknown@formal@none@1@S@Early yesterday, investors scrambled to buy Treasury bonds for safety as stock prices plummeted and fears mounted of a replay of Friday.@@@@1@22@@oe@2-2-2013
22036003@unknown@formal@none@1@S@But stocks later recovered, erasing most of their early declines.@@@@1@10@@oe@2-2-2013
22036004@unknown@formal@none@1@S@That cut short the rally in Treasury bonds and depressed prices moderately below late Monday's levels.@@@@1@16@@oe@2-2-2013
22036005@unknown@formal@none@1@S@The Dow Jones Industrial Average, down more than 60.25 points early in the day, finished 18.65 points lower at 2638.73.@@@@1@20@@oe@2-2-2013
22036006@unknown@formal@none@1@S@Long-term Treasury issues declined about half a point, or $5 for each $1,000 face amount.@@@@1@15@@oe@2-2-2013
22036007@unknown@formal@none@1@S@"The stock market clearly is leading the bond markets," said Jack Conlon, an executive vice president at Nikko Securities.@@@@1@19@@oe@2-2-2013
22036008@unknown@formal@none@1@S@"People are breathing a major sigh of relief that the world didn't end Monday morning" or yesterday.@@@@1@17@@oe@2-2-2013
22036009@unknown@formal@none@1@S@Gold, a closely watched barometer of investor anxiety, was little changed.@@@@1@11@@oe@2-2-2013
22036010@unknown@formal@none@1@S@The dollar initially fell against other major currencies on news that the U.S. trade deficit surged in August to $10.77 billion.@@@@1@21@@oe@2-2-2013
22036011@unknown@formal@none@1@S@But the dollar later rebounded, finishing slightly higher against the yen although slightly lower against the mark.@@@@1@17@@oe@2-2-2013
22036012@unknown@formal@none@1@S@Federal Reserve officials sent another signal of their determination to shore up investor confidence.@@@@1@14@@oe@2-2-2013
22036013@unknown@formal@none@1@S@In an apparent attempt to keep a lid on short-term interest rates, the Fed once again pumped money into the banking system.@@@@1@22@@oe@2-2-2013
22036014@unknown@formal@none@1@S@But the Fed move was a small gesture, traders said.@@@@1@10@@oe@2-2-2013
22036015@unknown@formal@none@1@S@Fed officials appear reluctant to ease their credit grip any further because a bold move doesn't appear necessary, several investment managers said.@@@@1@22@@oe@2-2-2013
22036016@unknown@formal@none@1@S@The Fed has allowed a key short-term interest rate to decline about one-quarter percentage point.@@@@1@15@@oe@2-2-2013
22036017@unknown@formal@none@1@S@The federal funds rate on overnight loans between banks has been hovering around 8 3/4%, down from 9% previously.@@@@1@19@@oe@2-2-2013
22036018@unknown@formal@none@1@S@Although stocks have led bonds this week, some traders predict that relationship will reverse during the next few weeks.@@@@1@19@@oe@2-2-2013
22036019@unknown@formal@none@1@S@Nikko's Mr. Conlon fears a huge wave of Treasury borrowing early next month will drive down Treasury bond prices.@@@@1@19@@oe@2-2-2013
22036020@unknown@formal@none@1@S@That, coupled with poor third-quarter corporate-earnings comparisons, "will make trouble for the equity market for the next two to three months," he says.@@@@1@23@@oe@2-2-2013
22036021@unknown@formal@none@1@S@But several other traders contend investors have overreacted to junk-bond jitters, and that stock prices will continue to recover.@@@@1@19@@oe@2-2-2013
22036022@unknown@formal@none@1@S@"They shot the whole orchestra just because the piano player hit a bad note," said Laszlo Birinyi, president of Birinyi Associates Inc., referring to the stock market's plunge Friday on news of trouble in financing the UAL Corp. buy-out.@@@@1@39@@oe@2-2-2013
22036023@unknown@formal@none@1@S@In major market activity: Treasury bond prices fell.@@@@1@8@@oe@2-2-2013
22036024@unknown@formal@none@1@S@The yield on 30-year Treasury bonds climbed back above 8%, ending the day at 8.03%.@@@@1@15@@oe@2-2-2013
22036025@unknown@formal@none@1@S@The dollar was mixed.@@@@1@4@@oe@2-2-2013
22036026@unknown@formal@none@1@S@Late yesterday in New York, the dollar rose to 142.75 yen from 141.80 yen Monday, but fell to 1.8667 marks from 1.8685 marks.@@@@1@23@@oe@2-2-2013
22037001@unknown@formal@none@1@S@The Consumer News and Business Channel cable network and U.S. News & World Report have formed a joint venture to produce cable program versions of special issues of the magazine.@@@@1@30@@oe@2-2-2013
22037002@unknown@formal@none@1@S@The programs will run on the cable network the Sunday evening immediately prior to the release of the special issue of U.S. News & World Report.@@@@1@26@@oe@2-2-2013
22037003@unknown@formal@none@1@S@CNBC is a joint venture of the National Broadcasting Co., a unit of General Electric Co., and Cablevision System Corp.@@@@1@20@@oe@2-2-2013
22037004@unknown@formal@none@1@S@Advertisers will be offered an advertising package, which for a single price, will include time on the CNBC program and ad pages in the special guides.@@@@1@26@@oe@2-2-2013
22037005@unknown@formal@none@1@S@CNBC will produce six, one-hour programs, beginning in April 1990.@@@@1@10@@oe@2-2-2013
22037006@unknown@formal@none@1@S@The first program scheduled in the joint venture is "The 1990 Homeowner's Guide."@@@@1@13@@oe@2-2-2013
22037007@unknown@formal@none@1@S@Other programs and special issues will be based on themes of health, jobs, personal finance, the best colleges, and investments.@@@@1@20@@oe@2-2-2013
22037008@unknown@formal@none@1@S@The programs will be written and produced by CNBC, with background and research provided by staff from U.S. News & World Report.@@@@1@22@@oe@2-2-2013
22038001@unknown@formal@none@1@S@Skoal Daze@@@@1@2@@oe@2-2-2013
22038002@unknown@formal@none@1@S@I've learned the hard way that too much booze Takes revenge the next day about nine; No wonder I say, "I drink to your health" -- It certainly isn't to mine!@@@@1@31@@oe@2-2-2013
22038003@unknown@formal@none@1@S@--George O. Ludcke.@@@@1@3@@oe@2-2-2013
22038004@unknown@formal@none@1@S@Spaced Out@@@@1@2@@oe@2-2-2013
22038005@unknown@formal@none@1@S@Those supermarket tabloids Make me feel slow Because I still haven't seen@@@@1@12@@oe@2-2-2013
22038006@unknown@formal@none@1@S@-- Bruce Kafaroff.@@@@1@3@@oe@2-2-2013
22038007@unknown@formal@none@1@S@Daffynition@@@@1@1@@oe@2-2-2013
22038008@unknown@formal@none@1@S@Repression: emote control.@@@@1@3@@oe@2-2-2013
22038009@unknown@formal@none@1@S@-- Daisy Brown.@@@@1@3@@oe@2-2-2013
22039001@unknown@formal@none@1@S@Weyerhaeuser Co. reported a one-time gain and strong wood-product sales that offset weakness in pulp and paper to fuel a 15% jump in third-quarter net income to $166.8 million, or 78 cents a share.@@@@1@34@@oe@2-2-2013
22039002@unknown@formal@none@1@S@In the 1988 third quarter, the forest-products company reported profit of $144.9 million, or 69 cents a share.@@@@1@18@@oe@2-2-2013
22039003@unknown@formal@none@1@S@Sales rose 9% to $2.57 billion from $2.36 billion.@@@@1@9@@oe@2-2-2013
22039004@unknown@formal@none@1@S@For the nine months, the company posted a 14% rise in profit to $469.8 million, or $2.21 a share, from $410.3 million, or $1.95 a share.@@@@1@26@@oe@2-2-2013
22039005@unknown@formal@none@1@S@Sales rose 9% to $7.54 billion from $6.95 billion.@@@@1@9@@oe@2-2-2013
22039006@unknown@formal@none@1@S@Results for the 1989 third quarter and nine months include a pretax loss of $33 million from the company's business improvement and refocusing program, and a gain of $49 million on the sale of a subsidiary's common stock.@@@@1@38@@oe@2-2-2013
22039007@unknown@formal@none@1@S@Forest-products operations strengthened in the third quarter, while paper operations were dogged by higher costs, soft newsprint exports and a strong Japanese yen.@@@@1@23@@oe@2-2-2013
22039008@unknown@formal@none@1@S@Some competing forest-products firms have recently reported improved results due to strong pulp and paper business.@@@@1@16@@oe@2-2-2013
22039009@unknown@formal@none@1@S@Weyerhaeuser's pulp and paper operations were up for the nine months, but full-year performance depends on the balance of operating and maintenance costs, plus pricing of certain products, the company said.@@@@1@31@@oe@2-2-2013
22039010@unknown@formal@none@1@S@Looking ahead to the fourth quarter, the company said export log and lumber markets will be weak, while panel and plywood markets will be stronger.@@@@1@25@@oe@2-2-2013
22039011@unknown@formal@none@1@S@Pulp and paper performance depends on cost and price variables, the company said.@@@@1@13@@oe@2-2-2013
22040001@unknown@formal@none@1@S@Bankers Trust New York Corp. became the latest major U.S. bank to increase reserves for its loans to less-developed countries, making a $1.6 billion third-quarter addition to its provision.@@@@1@29@@oe@2-2-2013
22040002@unknown@formal@none@1@S@The bank also said it expects to report a $1.42 billion loss for the third quarter and a loss for the full year.@@@@1@23@@oe@2-2-2013
22040003@unknown@formal@none@1@S@The new reserves bring the company's provision for loans to Third World countries to $2.6 billion, or 85% of Bankers Trust's medium and long-term loans to these countries.@@@@1@28@@oe@2-2-2013
22040004@unknown@formal@none@1@S@"Step up to the plate and take the big swing.@@@@1@10@@oe@2-2-2013
22040005@unknown@formal@none@1@S@Get the problem behind you and don't look back," said James J. McDermott, analyst at Keefe, Bruyette & Woods, in approving of the move.@@@@1@24@@oe@2-2-2013
22040006@unknown@formal@none@1@S@Bankers Trust "has had the capacity to do this for some time," the analyst said.@@@@1@15@@oe@2-2-2013
22040007@unknown@formal@none@1@S@He expects Citicorp to take a similar step this year.@@@@1@10@@oe@2-2-2013
22040008@unknown@formal@none@1@S@Citicorp yesterday reported a 9% third-quarter earnings drop, which analysts called a bit disappointing, while Manufacturers Hanover Corp. posted a $789 million loss for the quarter after adding $950 million to its reserve for loans to less-developed countries.@@@@1@38@@oe@2-2-2013
22040009@unknown@formal@none@1@S@Three other major U.S. banks posted earnings increases.@@@@1@8@@oe@2-2-2013
22040010@unknown@formal@none@1@S@Wells Fargo & Co. of San Francisco posted a 17% jump.@@@@1@11@@oe@2-2-2013
22040011@unknown@formal@none@1@S@PNC Financial Corp., the parent of Pittsburgh National Bank, reported net income climbed 9.8%, while net for Banc One Corp. of Columbus, Ohio, grew 3.8%.@@@@1@25@@oe@2-2-2013
22040012@unknown@formal@none@1@S@Citicorp@@@@1@1@@oe@2-2-2013
22040013@unknown@formal@none@1@S@Analysts were only slightly disappointed by Citicorp's numbers.@@@@1@8@@oe@2-2-2013
22040014@unknown@formal@none@1@S@"There's nothing in here that's horrible and nothing to make you think they're setting the world on fire," said Carole Berger, analyst for C.J. Lawrence, Morgan Grenfell Inc.@@@@1@28@@oe@2-2-2013
22040015@unknown@formal@none@1@S@Earnings from the bank's global consumer business grew 27%.@@@@1@9@@oe@2-2-2013
22040016@unknown@formal@none@1@S@"The consumer business continues to drive the earnings stream," said Mr. McDermott of Keefe, Bruyette & Woods.@@@@1@17@@oe@2-2-2013
22040017@unknown@formal@none@1@S@Corporate finance and trading results in member countries of the Organization for Economic Cooperation and Development were "relatively flat, sometimes choppy," the bank said, and profit for the area sank 27%.@@@@1@31@@oe@2-2-2013
22040018@unknown@formal@none@1@S@The cross-border loan portfolio reflected "adjustment problems and episodic payment patterns," the bank said no interest payments from Argentina in the nine months and none from Brazil in the third quarter, while Venezuela brought itself "substantially current."@@@@1@37@@oe@2-2-2013
22040019@unknown@formal@none@1@S@Overall, the portfolio narrowed its quarterly loss to $70 million from $80 million a year earlier.@@@@1@16@@oe@2-2-2013
22040020@unknown@formal@none@1@S@"People were waiting to see if we would take an additional provision" for medium-term and long-term loans to less-developed countries, a Citicorp spokesman said.@@@@1@24@@oe@2-2-2013
22040021@unknown@formal@none@1@S@But he reiterated the bank's position that it is comfortable with the current level of $2.6 billion, covering about 30% of the $8.9 billion of such loans outstanding.@@@@1@28@@oe@2-2-2013
22040022@unknown@formal@none@1@S@Ronald I. Mandle, analyst at Sanford C. Bernstein & Co., called Citicorp's venture-capital gains of $93 million before taxes "strong."@@@@1@20@@oe@2-2-2013
22040023@unknown@formal@none@1@S@A "concerning" item the analyst cited was the 10% jump in expenses, which the bank attributes to costs of expanding both its consumer credit-card operations and its overseas branch business.@@@@1@30@@oe@2-2-2013
22040024@unknown@formal@none@1@S@Citicorp's spokesman said, however, that the bank is maintaining those expenses in proportion to revenue growth.@@@@1@16@@oe@2-2-2013
22040025@unknown@formal@none@1@S@Wells Fargo@@@@1@2@@oe@2-2-2013
22040026@unknown@formal@none@1@S@Wells Fargo continued to generate one of the highest profit margins among major banks, minimizing a drop in net interest margin with 13% third-quarter growth in high-yielding business loans and similar growth in mortgages.@@@@1@34@@oe@2-2-2013
22040027@unknown@formal@none@1@S@Its margin fell only seven basis points, or 7/100ths of a percentage point, from a year ago, compared with a 13-point drop at Security Pacific Corp. and much larger declines among banks in other parts of the country.@@@@1@38@@oe@2-2-2013
22040028@unknown@formal@none@1@S@As a result, Wells Fargo's net interest income rose $36.3 million, or 7%, to $537 million for the quarter.@@@@1@19@@oe@2-2-2013
22040029@unknown@formal@none@1@S@Non-interest income fell slightly to $191.9 million from $193.3 million, while Wells Fargo continued to rigorously control non-interest expense, which was almost flat at $393.4 million.@@@@1@26@@oe@2-2-2013
22040030@unknown@formal@none@1@S@The combination of solid loan growth with tight expense control gave Wells Fargo a 1.25% return on average assets for the quarter, about 40% higher than Security Pacific's and a profit ratio matched by only two or three other major banks in the U.S.@@@@1@44@@oe@2-2-2013
22040031@unknown@formal@none@1@S@Wells Fargo's return on equity increased to 24.4% from 23.8%.@@@@1@10@@oe@2-2-2013
22040032@unknown@formal@none@1@S@Wells Fargo has sold all of its non-trade loans made to less-developed countries, and managed to partly reverse the sharp rise in domestic non-accrual loans, which fell 8% from the previous quarter to $806.8 million from $880.9 million.@@@@1@38@@oe@2-2-2013
22040033@unknown@formal@none@1@S@But the amount was still 39% higher than the year-ago level, and 25% higher as a percentage of total loans.@@@@1@20@@oe@2-2-2013
22040034@unknown@formal@none@1@S@That trend, and Wells Fargo's heavy exposure to leveraged buy-outs, are about the only worries analysts have about Wells Fargo's financial picture.@@@@1@22@@oe@2-2-2013
22040035@unknown@formal@none@1@S@Wells Fargo is rebuilding its loan-loss reserve, which increased to $711 million at Sept. 30 from $664 million the previous quarter but was down from $852 million a year ago, when the bank still had some shaky foreign loans.@@@@1@39@@oe@2-2-2013
22040036@unknown@formal@none@1@S@Manufacturers Hanover@@@@1@2@@oe@2-2-2013
22040037@unknown@formal@none@1@S@Manufacturers Hanover said that excluding the addition to its reserves, certain tax benefits, and a one-time $16 million gain on the sale of an interest in a foreign leasing company, third-quarter earnings were $75 million.@@@@1@35@@oe@2-2-2013
22040038@unknown@formal@none@1@S@The comparable year-earlier number was $56 million, a spokesman said.@@@@1@10@@oe@2-2-2013
22040039@unknown@formal@none@1@S@The bank's additional provisions brought reserves for loans to less-developed countries to $2.4 billion, covering 36% of its medium and long-term loans outstanding to these nations.@@@@1@26@@oe@2-2-2013
22040040@unknown@formal@none@1@S@The net interest margin-the difference between the bank's cost of funds and what it receives as interest payments -- improved in the quarter, as did certain areas of wholesale banking.@@@@1@30@@oe@2-2-2013
22040041@unknown@formal@none@1@S@Fees from syndicating loans dropped 48%, to $21 million.@@@@1@9@@oe@2-2-2013
22040042@unknown@formal@none@1@S@"We didn't take part in a lot of deals" in the quarter "because their credit quality was poor," the spokesman said.@@@@1@21@@oe@2-2-2013
22040043@unknown@formal@none@1@S@Expenses unrelated to interest rose 5.4%, to $541 million.@@@@1@9@@oe@2-2-2013
22040044@unknown@formal@none@1@S@PNC Financial@@@@1@2@@oe@2-2-2013
22040045@unknown@formal@none@1@S@PNC Financial cited higher income from sources unrelated to interest and said it continues to cut costs.@@@@1@17@@oe@2-2-2013
22040046@unknown@formal@none@1@S@Net interest income in the third quarter edged up 1.4%, to $317.7 million.@@@@1@13@@oe@2-2-2013
22040047@unknown@formal@none@1@S@Trust income grew 15%, to $49.9 million, while service charges, fees and commissions increased 22%, to $79.4 million.@@@@1@18@@oe@2-2-2013
22040048@unknown@formal@none@1@S@The bank's total allowance for credit losses was $502.1 million, or 1.82% of total loans.@@@@1@15@@oe@2-2-2013
22041001@unknown@formal@none@1@S@Prime Minister Rajiv Gandhi set a date next month for general elections that some analysts say could cost him and his ruling Congress (I) Party control of the government.@@@@1@29@@oe@2-2-2013
22041002@unknown@formal@none@1@S@Other analysts say the Indian leader could retain control with a slim majority or be forced to rule as the dominant partner in a coalition with other parties.@@@@1@28@@oe@2-2-2013
22041003@unknown@formal@none@1@S@Elections in this large, diverse and passionate nation are always hard to predict.@@@@1@13@@oe@2-2-2013
22041004@unknown@formal@none@1@S@Much depends on the opposition, a loose group of regional and ideological parties led by former Gandhi cabinet minister Vishwanath Pratap Singh.@@@@1@22@@oe@2-2-2013
22041005@unknown@formal@none@1@S@The biggest certainty is that the elections will be a vote for or against Mr. Gandhi and his five years in power -- five years of ups and downs, promises and disappointments and wide fluctuations in popularity.@@@@1@37@@oe@2-2-2013
22041006@unknown@formal@none@1@S@Yesterday, four days after an unusual parliamentary defeat for the ruling party, Mr. Gandhi called elections for the lower house of Parliament on Nov. 22 and 24.@@@@1@27@@oe@2-2-2013
22041007@unknown@formal@none@1@S@The elections will be held in different states on one of the two days.@@@@1@14@@oe@2-2-2013
22041008@unknown@formal@none@1@S@(The lower house's five-year term expires in January; the Parliament's upper house is appointed.)@@@@1@14@@oe@2-2-2013
22041009@unknown@formal@none@1@S@The elections will be a rigorous test for the 45-year-old prime minister and Congress (I), which in various forms has ruled for 40 of India's 42 years of independence.@@@@1@29@@oe@2-2-2013
22041010@unknown@formal@none@1@S@After a landslide win in 1984 in polls held after the assassination of his mother, Indira Gandhi, Mr. Gandhi saw his popularity begin a roller coaster ride.@@@@1@27@@oe@2-2-2013
22041011@unknown@formal@none@1@S@His early promises to make India a modern nation remain bogged down in bloated bureaucracy.@@@@1@15@@oe@2-2-2013
22041012@unknown@formal@none@1@S@His pledge to clean up local administration and Indian politics, including his own party, went unfulfilled.@@@@1@16@@oe@2-2-2013
22041013@unknown@formal@none@1@S@His "Mr. Clean" image was muddied by an arms-kickback scandal, which will be a major campaign issue.@@@@1@17@@oe@2-2-2013
22041014@unknown@formal@none@1@S@Some analysts predict that disappointment in Mr. Gandhi's spent pledge to reduce corruption and heavy-handed local government will crest at the polls.@@@@1@22@@oe@2-2-2013
22041015@unknown@formal@none@1@S@"There's a wide feeling of indignation across the country," says Bhabani Sen Gupta of the Center for Policy Research, in New Delhi.@@@@1@22@@oe@2-2-2013
22041016@unknown@formal@none@1@S@"I think the people will be judging the regime by a petty policeman, by a corrupt revenue collector.@@@@1@18@@oe@2-2-2013
22041017@unknown@formal@none@1@S@This could be a big protest against an administrative failure."@@@@1@10@@oe@2-2-2013
22041018@unknown@formal@none@1@S@Even if the Congress (I) retains control of the government, Mr. Gandhi's ability to push through major initiatives might be hobbled by a thinner majority.@@@@1@25@@oe@2-2-2013
22041019@unknown@formal@none@1@S@Economic analysts call his trail-blazing liberalization of the Indian economy incomplete, and many are hoping for major new liberalizations if he is returned firmly to power.@@@@1@26@@oe@2-2-2013
22041020@unknown@formal@none@1@S@The Lok Sabha, or lower house of Parliament, has 542 elected and two appointed seats.@@@@1@15@@oe@2-2-2013
22041021@unknown@formal@none@1@S@In 1984, the Congress (I) captured 405 seats, the largest victory in the history of Indian democracy.@@@@1@17@@oe@2-2-2013
22041022@unknown@formal@none@1@S@The landslide was fueled by panic that prevailed in India at the time.@@@@1@13@@oe@2-2-2013
22041023@unknown@formal@none@1@S@Mrs. Gandhi had been assassinated by separatist Sikhs, and many Indians feared their country might split apart.@@@@1@17@@oe@2-2-2013
22041024@unknown@formal@none@1@S@In the previous three general elections, similar national issues clinched the vote.@@@@1@12@@oe@2-2-2013
22041025@unknown@formal@none@1@S@In 1971, the Congress Party won after India's victory in the Bangladesh war.@@@@1@13@@oe@2-2-2013
22041026@unknown@formal@none@1@S@In 1977, Mrs. Gandhi was thrown out of office after her 19-month emergency rule, and in 1980, after her successors made a mess of their three years in power, she was restored to office.@@@@1@34@@oe@2-2-2013
22041027@unknown@formal@none@1@S@Most political analysts say that if Mr. Gandhi's opposition unites to field single candidates in most precincts, the Congress (I) will lose big.@@@@1@23@@oe@2-2-2013
22041028@unknown@formal@none@1@S@But if the opposition remains fractured, the Congress (I) could win a small majority, or lead a coalition government.@@@@1@19@@oe@2-2-2013
22041029@unknown@formal@none@1@S@Chimanbhai Mehta, a parliamentarian and former Gandhi ally, predicts Congress (I) will win only 150 seats, a quarter of the house, if the opposition fields single candidates in 80% of the races.@@@@1@32@@oe@2-2-2013
22041030@unknown@formal@none@1@S@Analysts say the opposition will struggle this week to unite, and its success will be clear only when it announces its final list of parliamentary candidates.@@@@1@26@@oe@2-2-2013
22041031@unknown@formal@none@1@S@The arms-kickback scandal is likely to be one of the big talking points in the campaign, but it's unclear how it is viewed by average Indian voters.@@@@1@27@@oe@2-2-2013
22041032@unknown@formal@none@1@S@In 1986, India signed a $1.4 billion contract with AB Bofors, a unit of Nobel Industries Sweden AB, to purchase 400 artillery pieces.@@@@1@23@@oe@2-2-2013
22041033@unknown@formal@none@1@S@The contract was negotiated by the countries' two prime ministers, and was supposed to be free of commissions or agents' costs.@@@@1@21@@oe@2-2-2013
22041034@unknown@formal@none@1@S@In April 1987, evidence surfaced that commissions were paid.@@@@1@9@@oe@2-2-2013
22041035@unknown@formal@none@1@S@The opposition charged that the money was used to bribe Indian government officials, an allegation denied by Mr. Gandhi's administration.@@@@1@20@@oe@2-2-2013
22041036@unknown@formal@none@1@S@But many of his statements on the issue in Parliament subsequently were proven wrong by documentary evidence.@@@@1@17@@oe@2-2-2013
22041037@unknown@formal@none@1@S@The scandal has faded and flared, but recent disclosures propelled it back onto the front pages, and that has helped galvanize the opposition, which last week blocked passage of two constitutional amendment bills.@@@@1@33@@oe@2-2-2013
22041038@unknown@formal@none@1@S@It was the first time in 20 years that such government bills were defeated.@@@@1@14@@oe@2-2-2013
22041039@unknown@formal@none@1@S@In a country where a bribe is needed to get a phone, a job, and even into a school, the name Bofors has become a potent rallying cry against the government.@@@@1@31@@oe@2-2-2013
22041040@unknown@formal@none@1@S@That illustrates the kind of disappointment many Indians feel toward Mr. Gandhi, whom they zestfully elected and enthusiastically supported in his first two years in power.@@@@1@26@@oe@2-2-2013
22041041@unknown@formal@none@1@S@His term has produced no spectacular failures in politics, in the economy or on the military front, and has chalked up some successes.@@@@1@23@@oe@2-2-2013
22041042@unknown@formal@none@1@S@But the average Indian had tremendous hope in the youthful leader and his promise to make both government and the ruling party more effective and less corrupt.@@@@1@27@@oe@2-2-2013
22041043@unknown@formal@none@1@S@His failures in those two areas deeply, and sometimes bitterly, disappointed many Indians.@@@@1@13@@oe@2-2-2013
22041044@unknown@formal@none@1@S@"We don't like the Congress (I)," says Sooraji Jath, a farmer in the western state of Gujarat.@@@@1@17@@oe@2-2-2013
22041045@unknown@formal@none@1@S@"The Congress government is taking the farmers' bread and not giving us any support.@@@@1@14@@oe@2-2-2013
22041046@unknown@formal@none@1@S@When there are well problems, light problems, road problems, the government tells us to forget it."@@@@1@16@@oe@2-2-2013
22041047@unknown@formal@none@1@S@The greatest thing going for Mr. Gandhi and the Congress (I) Party is the poor reputation of the opposition.@@@@1@19@@oe@2-2-2013
22041048@unknown@formal@none@1@S@Even if it unites for the elections, its coherence is likely to be temporary.@@@@1@14@@oe@2-2-2013
22041049@unknown@formal@none@1@S@When the Congress (I) lost the 1977 election, following Mrs. Gandhi's hated emergency rule, a similar coalition took power and then disintegrated.@@@@1@22@@oe@2-2-2013
22041050@unknown@formal@none@1@S@Many Indians fear a repeat of that experience.@@@@1@8@@oe@2-2-2013
22041051@unknown@formal@none@1@S@March 24, 1986:@@@@1@3@@oe@2-2-2013
22041052@unknown@formal@none@1@S@AB Bofors, a unit of Nobel Industries Sweden AB, enters into a $1.4 billion contract with India's Defense Ministry to supply 400 Bofors FH-77B 155-mm field howitzer guns.@@@@1@28@@oe@2-2-2013
22041053@unknown@formal@none@1@S@In 1985, Prime Minister Rajiv Gandhi, in his talks with then Swedish Prime Minister Olof Palme, imposed the condition that the contract have no middlemen.@@@@1@25@@oe@2-2-2013
22041054@unknown@formal@none@1@S@April 16, 1987:@@@@1@3@@oe@2-2-2013
22041055@unknown@formal@none@1@S@Swedish National Radio reports that about $40 million -- nearly 3% of the total contract -- was paid by Bofors as commissions to middlemen.@@@@1@24@@oe@2-2-2013
22041056@unknown@formal@none@1@S@June 1, 1987:@@@@1@3@@oe@2-2-2013
22041057@unknown@formal@none@1@S@Sweden's National Audit Bureau releases its report confirming payment of about $40 million to unidentified Indians.@@@@1@16@@oe@2-2-2013
22041058@unknown@formal@none@1@S@The report says that investigations were severely hampered by lack of cooperation from Bofors.@@@@1@14@@oe@2-2-2013
22041059@unknown@formal@none@1@S@Bofors says it can't disclose the names of the middlemen because it would jeopardize industrial confidentiality.@@@@1@16@@oe@2-2-2013
22041060@unknown@formal@none@1@S@A portion of the report containing names of the middlemen is withheld by officials citing bank secrecy requirements.@@@@1@18@@oe@2-2-2013
22041061@unknown@formal@none@1@S@Aug. 6, 1987:@@@@1@3@@oe@2-2-2013
22041062@unknown@formal@none@1@S@Prime Minister Gandhi tells the Indian Parliament, ". . . neither I nor any member of my family has received any consideration in these transactions.@@@@1@25@@oe@2-2-2013
22041063@unknown@formal@none@1@S@That is the truth."@@@@1@4@@oe@2-2-2013
22041064@unknown@formal@none@1@S@Aug. 26, 1987:@@@@1@3@@oe@2-2-2013
22041065@unknown@formal@none@1@S@Bofors admits payments of $41 million to middlemen.@@@@1@8@@oe@2-2-2013
22041066@unknown@formal@none@1@S@April 22, 1988:@@@@1@3@@oe@2-2-2013
22041067@unknown@formal@none@1@S@The Hindu newspaper publishes facsimiles of bank documents for foreign-exchange remittances and letters between Bofors and certain private companies related to the sale of the guns to India.@@@@1@28@@oe@2-2-2013
22041068@unknown@formal@none@1@S@April 26, 1988:@@@@1@3@@oe@2-2-2013
22041069@unknown@formal@none@1@S@A parliamentary investigative committee dominated by the Congress (I) Party concludes that there were no middlemen in the deal and no payment to any Indian individual or company.@@@@1@28@@oe@2-2-2013
22041070@unknown@formal@none@1@S@July 18, 1989:@@@@1@3@@oe@2-2-2013
22041071@unknown@formal@none@1@S@The comptroller and auditor-general of India reports serious lapses in the government's technical and financial evaluation of the Bofors deal.@@@@1@20@@oe@2-2-2013
22041072@unknown@formal@none@1@S@Sept. 15, 1989:@@@@1@3@@oe@2-2-2013
22041073@unknown@formal@none@1@S@Retired army Chief of Staff Krishnaswami Sundarji discloses in an interview that he suggested in May 1987 that the government cancel the Bofors contract.@@@@1@24@@oe@2-2-2013
22041074@unknown@formal@none@1@S@According to Gen. Sundarji, that would have forced Bofors to disclose the names of the middlemen who received kickbacks from the company.@@@@1@22@@oe@2-2-2013
22041075@unknown@formal@none@1@S@His recommendation was rejected by the government.@@@@1@7@@oe@2-2-2013
22041076@unknown@formal@none@1@S@Oct. 9. 1989:@@@@1@3@@oe@2-2-2013
22041077@unknown@formal@none@1@S@The Hindu newspaper publishes the withheld portion of the Swedish National Audit Bureau's report.@@@@1@14@@oe@2-2-2013
22041078@unknown@formal@none@1@S@The disclosures state that commissions were paid by Bofors to an Indian agent of the arms company.@@@@1@17@@oe@2-2-2013
22042001@unknown@formal@none@1@S@Parsow Partnership Ltd. and Elkhorn Partners L.P. said they may seek proposals from third parties relating to a sale or restructuring of CACI International Inc.@@@@1@25@@oe@2-2-2013
22042002@unknown@formal@none@1@S@In a filing with the Securities and Exchange Commission, Parsow and Elkhorn, which together hold 8.685% of CACI's common shares, said they think it is in the best interest of CACI stockholders that the company be sold.@@@@1@37@@oe@2-2-2013
22042003@unknown@formal@none@1@S@CACI, based in Arlington, Va., said it hadn't seen the filing by Parsow and Elkhorn and therefore had no comment.@@@@1@20@@oe@2-2-2013
22042004@unknown@formal@none@1@S@The partnerships said they may seek board representation, and they may seek the support of CACI's board and other major shareholders in connection with their plans.@@@@1@26@@oe@2-2-2013
22042005@unknown@formal@none@1@S@According to the filing, Parsow and Elkhorn are based in Elkhorn, Neb., and are controlled by the same general partner, Alan S. Parsow.@@@@1@23@@oe@2-2-2013
22042006@unknown@formal@none@1@S@Their combined stake consists of 880,500 CACI common shares, including 86,500 shares bought in the past 60 days at $2.3125 to $2.4375 a share.@@@@1@24@@oe@2-2-2013
22042007@unknown@formal@none@1@S@Additional shares may be bought or sold in the open market, in private transactions or otherwise, depending on market conditions and other factors.@@@@1@23@@oe@2-2-2013
22043001@unknown@formal@none@1@S@The inverse trading relationship between bonds and stocks was interrupted yesterday as bonds fell despite a modest decline in stock prices.@@@@1@21@@oe@2-2-2013
22043002@unknown@formal@none@1@S@But bond investors continue to keep a close watch on the jittery stock market.@@@@1@14@@oe@2-2-2013
22043003@unknown@formal@none@1@S@In early trading, investors were bidding bond prices higher as stocks tumbled and fears mounted that Friday's stock market debacle would be repeated.@@@@1@23@@oe@2-2-2013
22043004@unknown@formal@none@1@S@But a partial recovery in the Dow Jones Industrial Average, which had been down more than 60 points in midmorning, dashed those expectations.@@@@1@23@@oe@2-2-2013
22043005@unknown@formal@none@1@S@Treasury bonds also were hurt late in the day by a $4 billion offering by the Tennessee Valley Authority and the prospect of a huge amount of new agency debt.@@@@1@30@@oe@2-2-2013
22043006@unknown@formal@none@1@S@"Bond investors were hoping that stock prices would continue to fall," said Roger Early, a vice president at Federated Investors Inc., Pittsburgh.@@@@1@22@@oe@2-2-2013
22043007@unknown@formal@none@1@S@"When stocks stabilized, that was a disappointment."@@@@1@7@@oe@2-2-2013
22043008@unknown@formal@none@1@S@Meanwhile, for the second straight day, the bond market paid little attention to the Federal Reserve's open market operations.@@@@1@19@@oe@2-2-2013
22043009@unknown@formal@none@1@S@Fed officials injected more cash into the banking system by arranging $1.5 billion of repurchase agreements during the usual pre-noon intervention period.@@@@1@22@@oe@2-2-2013
22043010@unknown@formal@none@1@S@The move was meant to keep a lid on interest rates and to boost investor confidence.@@@@1@16@@oe@2-2-2013
22043011@unknown@formal@none@1@S@"The intervention has been friendly, meaning that they really didn't have to do it," said Maria Fiorini Ramirez, money-market economist at Drexel Burnham Lambert Inc.@@@@1@25@@oe@2-2-2013
22043012@unknown@formal@none@1@S@She said a more aggressive move wasn't needed.@@@@1@8@@oe@2-2-2013
22043013@unknown@formal@none@1@S@The Fed also appears reluctant to ease credit conditions further.@@@@1@10@@oe@2-2-2013
22043014@unknown@formal@none@1@S@It already has allowed the closely watched federal funds rate to decline 1/4 percentage point to about 8 3/4% from its previous target level of about 9%.@@@@1@27@@oe@2-2-2013
22043015@unknown@formal@none@1@S@The rate, which banks charge each other on overnight loans, is considered an early signal of changes in Fed policy.@@@@1@20@@oe@2-2-2013
22043016@unknown@formal@none@1@S@It ended at about 8 11/16% yesterday, but was as low as 8 1/2% Monday.@@@@1@15@@oe@2-2-2013
22043017@unknown@formal@none@1@S@The Treasury's benchmark 30-year bond fell more than 1/2 point, or over $5 for each $1,000 face amount, while the yield moved above 8% for the first time since Thursday.@@@@1@30@@oe@2-2-2013
22043018@unknown@formal@none@1@S@Investment-grade corporate, municipal and mortgage-backed securities also fell.@@@@1@8@@oe@2-2-2013
22043019@unknown@formal@none@1@S@But most junk bonds closed unchanged after opening slightly higher on bargain-hunting by institutional investors.@@@@1@15@@oe@2-2-2013
22043020@unknown@formal@none@1@S@Some so-called high-quality junk issues, such as R.H. Macy & Co.'s 14 1/2% subordinated debentures, rose.@@@@1@16@@oe@2-2-2013
22043021@unknown@formal@none@1@S@The Macy's issue closed up about one point at a bid price of 97.@@@@1@14@@oe@2-2-2013
22043022@unknown@formal@none@1@S@The TVA's public debt offering was its first in 15 years.@@@@1@11@@oe@2-2-2013
22043023@unknown@formal@none@1@S@Strong investor demand prompted it to boost the size of the issue from $3 billion.@@@@1@15@@oe@2-2-2013
22043024@unknown@formal@none@1@S@Traders said hedging related to the TVA pricing also pressured Treasury bonds.@@@@1@12@@oe@2-2-2013
22043025@unknown@formal@none@1@S@"Underwriters of the TVA bonds reduced their market risk by selling Treasurys to cover at least part of their {TVA} holdings," said James R. Capra, a senior vice president at Shearson Lehman Government Securities Inc.@@@@1@35@@oe@2-2-2013
22043026@unknown@formal@none@1@S@The TVA bonds also "served to remind the market that there will be even more new supply," said Lawrence N. Leuzzi, a managing director at S.G. Warburg Securities & Co.@@@@1@30@@oe@2-2-2013
22043027@unknown@formal@none@1@S@Today the Treasury will announce the size of its next two-year note sale and Resolution Funding Corp. will announce details of its first bond offering.@@@@1@25@@oe@2-2-2013
22043028@unknown@formal@none@1@S@Some traders estimate $9.75 billion of new two-year Treasurys will be sold next week, and they expect Refcorp to offer $4 billion to $6 billion of long-term "bailout" bonds.@@@@1@29@@oe@2-2-2013
22043029@unknown@formal@none@1@S@Refcorp was created to help fund the thrift bailout.@@@@1@9@@oe@2-2-2013
22043030@unknown@formal@none@1@S@Another agency issue came to market yesterday.@@@@1@7@@oe@2-2-2013
22043031@unknown@formal@none@1@S@The Office of Finance of the Federal Home Loan Banks said it priced a four-part $2.27 billion bond offering for the banks to yield from 8.125% to 8.375%.@@@@1@28@@oe@2-2-2013
22043032@unknown@formal@none@1@S@The release of several economic reports had little impact on the market, including a report that the U.S. trade deficit expanded to a surprisingly wide $10.77 billion in August, up from a revised $8.24 billion in July.@@@@1@37@@oe@2-2-2013
22043033@unknown@formal@none@1@S@The August gap was expected to have expanded to $9.1 billion.@@@@1@11@@oe@2-2-2013
22043034@unknown@formal@none@1@S@Treasury Securities@@@@1@2@@oe@2-2-2013
22043035@unknown@formal@none@1@S@Treasury securities were essentially flat to about 1/2 point lower.@@@@1@10@@oe@2-2-2013
22043036@unknown@formal@none@1@S@The benchmark 30-year bond was quoted late at 100 28/32 to yield 8.04%, compared with 101 19/32 to yield 7.97% Monday.@@@@1@21@@oe@2-2-2013
22043037@unknown@formal@none@1@S@The latest 10-year notes were quoted late at 99 25/32 to yield 8.01%, compared with 100 1/32 to yield 7.97%.@@@@1@20@@oe@2-2-2013
22043038@unknown@formal@none@1@S@Short-term rates increased.@@@@1@3@@oe@2-2-2013
22043039@unknown@formal@none@1@S@The discount rate on three-month bills rose to 7.52% for a bond-equivalent yield of 7.75%.@@@@1@15@@oe@2-2-2013
22043040@unknown@formal@none@1@S@The rate on six-month bills rose to 7.53% for a bond-equivalent yield of 7.92%.@@@@1@14@@oe@2-2-2013
22043041@unknown@formal@none@1@S@Corporate, Other Issues@@@@1@3@@oe@2-2-2013
22043042@unknown@formal@none@1@S@Investment-grade corporate bonds ended 1/4 to 1/2 point lower, while most junk bonds ended unchanged.@@@@1@15@@oe@2-2-2013
22043043@unknown@formal@none@1@S@The TVA's huge $4 billion offering dominated attention in the new-issue market.@@@@1@12@@oe@2-2-2013
22043044@unknown@formal@none@1@S@TVA offered $2 billion of 30-year bonds priced to yield 9.06%; $1 billion in 10-year notes priced to yield 8.42%; and $1 billion in five-year notes priced to yield 8.33%.@@@@1@30@@oe@2-2-2013
22043045@unknown@formal@none@1@S@The TVA, which operates one of the nation's largest electric power systems, is a corporation wholly owned by the U.S. government.@@@@1@21@@oe@2-2-2013
22043046@unknown@formal@none@1@S@Yesterday's bond sale was part of a $6.7 billion refinancing plan to pay off high-interest debt the TVA owes the Federal Financing Bank, an arm of the Treasury.@@@@1@28@@oe@2-2-2013
22043047@unknown@formal@none@1@S@Meanwhile, Lockheed Corp. priced a $300 million note offering to yield 9.39%.@@@@1@12@@oe@2-2-2013
22043048@unknown@formal@none@1@S@Mortgage-Backed Securities@@@@1@2@@oe@2-2-2013
22043049@unknown@formal@none@1@S@The derivative mortgage-backed market revived after a brief hiatus as two new Remics totaling $850 million were offered and talk circulated about two more issues that could be priced today.@@@@1@30@@oe@2-2-2013
22043050@unknown@formal@none@1@S@The revival of the real estate mortgage investment conduit market reflected the relative calm in the mortgage market after two days of volatile trading.@@@@1@24@@oe@2-2-2013
22043051@unknown@formal@none@1@S@Dealers noted that it's difficult to structure new Remics when prices are moving widely.@@@@1@14@@oe@2-2-2013
22043052@unknown@formal@none@1@S@The two Remics priced were a $500 million Federal Home Loan Mortgage Corp. issue underwritten by Salomon Brothers Inc. and a $350 million Federal National Mortgage Association deal underwritten by Greenwich Capital Markets.@@@@1@33@@oe@2-2-2013
22043053@unknown@formal@none@1@S@The Remic issuance supported prices of Freddie Mac and Fannie Mae securities, which held up better than Government National Mortgage Association securities during an afternoon sell-off.@@@@1@26@@oe@2-2-2013
22043054@unknown@formal@none@1@S@Ginnie Mae 9% securities for November delivery ended at 97 29/32, down 7/32; 9 1/2% securities at 99 31/32, down 6/32; and 10% securities at 101 29/32, down 5/32.@@@@1@29@@oe@2-2-2013
22043055@unknown@formal@none@1@S@Freddie Mac 9% securities were at 97 5/32, down 3/32.@@@@1@10@@oe@2-2-2013
22043056@unknown@formal@none@1@S@The Ginnie Mae 9% issue was yielding 9.43% to a 12-year average life assumption, as the spread above the Treasury 10-year note held at 1.42 percentage points.@@@@1@27@@oe@2-2-2013
22043057@unknown@formal@none@1@S@Municipals@@@@1@1@@oe@2-2-2013
22043058@unknown@formal@none@1@S@Confusion over the near-term trend for rates dominated the municipal arena, as gyrations in the stock market continued to buffet bonds.@@@@1@21@@oe@2-2-2013
22043059@unknown@formal@none@1@S@Long tax-exempt dollar bonds were mostly flat to 3/8 point lower after a whipsaw session of moving inversely to stocks in modest dealer-led trading.@@@@1@24@@oe@2-2-2013
22043060@unknown@formal@none@1@S@Prices of pre-refunded municipal bonds were capped by news that Chemical Securities Inc., as agent for a customer, will accept bids today for two large lists of bonds that include many such issues.@@@@1@33@@oe@2-2-2013
22043061@unknown@formal@none@1@S@The lists total $654.5 million.@@@@1@5@@oe@2-2-2013
22043062@unknown@formal@none@1@S@Pre-refunded bonds are called at their earliest call date with the escrowed proceeds of another bond issue.@@@@1@17@@oe@2-2-2013
22043063@unknown@formal@none@1@S@Meanwhile, several new issues were priced.@@@@1@6@@oe@2-2-2013
22043064@unknown@formal@none@1@S@Underwriters led by PaineWebber Inc. set preliminary pricing for $144.4 million of California Health Facilities Financing Authority revenue bonds for Kaiser Permanente.@@@@1@22@@oe@2-2-2013
22043065@unknown@formal@none@1@S@Tentative reoffering yields were set from 6.25% in 1993 to 7.227% in 2018.@@@@1@13@@oe@2-2-2013
22043066@unknown@formal@none@1@S@As part of its College Savings Plan, Connecticut offered $100.4 million of general obligation capital appreciation bonds priced to yield to maturity from 6.25% in 1994 to 6.90% in 2006, 2007 and 2009.@@@@1@33@@oe@2-2-2013
22043067@unknown@formal@none@1@S@A Chemical Securities group won a $100 million Oregon general obligation veterans' tax note issue due Nov. 1, 1990.@@@@1@19@@oe@2-2-2013
22043068@unknown@formal@none@1@S@The 6 3/4% notes yield 6.25%.@@@@1@6@@oe@2-2-2013
22043069@unknown@formal@none@1@S@Foreign Bonds@@@@1@2@@oe@2-2-2013
22043070@unknown@formal@none@1@S@West German government bond prices took a wild roller-coaster ride, pulled down by Monday's U.S. stock market gains then up by a wider-than-expected U.S. trade deficit and falling U.S. stock prices.@@@@1@31@@oe@2-2-2013
22043071@unknown@formal@none@1@S@West Germany's 7% bond due October 1999 was at 99.95 late yesterday, off 0.10 point from Monday, to yield 7.01%.@@@@1@20@@oe@2-2-2013
22043072@unknown@formal@none@1@S@The 6 3/4% notes due April 1994 were up 0.10 point to 97.85 to yield 7.31%.@@@@1@16@@oe@2-2-2013
22043073@unknown@formal@none@1@S@British government bonds surged on renewed volatility in the stock market.@@@@1@11@@oe@2-2-2013
22043074@unknown@formal@none@1@S@The Treasury 11 3/4% bond due 2003/2007 rose 23/32 to 112 10/32 to yield 10.03%.@@@@1@15@@oe@2-2-2013
22043075@unknown@formal@none@1@S@But Japanese bonds ended weaker.@@@@1@5@@oe@2-2-2013
22043076@unknown@formal@none@1@S@The benchmark No. 111 4.6% bond due 1998 ended on brokers' screens at a price of 96, off 0.15 point to yield 5.27%.@@@@1@23@@oe@2-2-2013
22044001@unknown@formal@none@1@S@A House-Senate conference approved an estimated $67 billion fiscal 1990 spending bill that provides a 28% increase for space research and development and incorporates far-reaching provisions affecting the federal mortgage market.@@@@1@31@@oe@2-2-2013
22044002@unknown@formal@none@1@S@The current ceiling on home loans insured by the Federal Housing Administration would be increased to $124,875.@@@@1@17@@oe@2-2-2013
22044003@unknown@formal@none@1@S@Separately, the bill gives authority to the Bush administration to facilitate the refinancing of federally subsidized loans for low-income and moderate-income homeowners.@@@@1@22@@oe@2-2-2013
22044004@unknown@formal@none@1@S@The second provision, affecting so-called 235 mortgages, has met strong opposition from investment bankers represented by the Public Securities Association.@@@@1@20@@oe@2-2-2013
22044005@unknown@formal@none@1@S@And a squad of influential former Senate aides employed by the Wall Street firm Salomon Brothers came to the Capitol in a vain attempt to strip the provision.@@@@1@28@@oe@2-2-2013
22044006@unknown@formal@none@1@S@By an 11-2 margin, Senate negotiators voted to preserve the 235 mortgage refinancing plan, and despite powerful allies, the opposition found itself undercut by an unusual alliance of liberals and conservatives.@@@@1@31@@oe@2-2-2013
22044007@unknown@formal@none@1@S@The government currently is subsidizing an estimated 23,000 loans above 11% under the 235 program, and however disruptive to private investors, the refinancing is expected to yield at least $15 million in savings in fiscal 1990.@@@@1@36@@oe@2-2-2013
22044008@unknown@formal@none@1@S@This sum has been guarded jealously by appropriators anxious to offset spending elsewhere, and conservative Sen. Phil Gramm cast the fight as a populist stand against monied interests.@@@@1@28@@oe@2-2-2013
22044009@unknown@formal@none@1@S@"We are stewards here, not of the mortgage companies, but the taxpayers," said the Texas Republican.@@@@1@16@@oe@2-2-2013
22044010@unknown@formal@none@1@S@The action came as the administration won final congressional approval of $9 million in assistance for elections scheduled in Nicaragua in February.@@@@1@22@@oe@2-2-2013
22044011@unknown@formal@none@1@S@The bulk of the money would be funneled through the National Endowment for Democracy, but the legislation is so vaguely written that it has been dogged by questions regarding the money's true purpose and its ultimate destination.@@@@1@37@@oe@2-2-2013
22044012@unknown@formal@none@1@S@The Senate had refused late Friday to invoke cloture and limit debate, but behind the bipartisan leadership, a solid majority took shape yesterday and brushed aside amendments seeking to cut the total package or steer it away from direct aid to political parties.@@@@1@43@@oe@2-2-2013
22044013@unknown@formal@none@1@S@Final approval -- on a 64-35 roll call -- was never in doubt, but the opposition drew an unusual mix of senators, including Republicans Jesse Helms and Warren Rudman and Democrats Bill Bradley and John Glenn.@@@@1@36@@oe@2-2-2013
22044014@unknown@formal@none@1@S@The money will be applied for voter registration and election monitoring, but more than half is likely to go to the Union Nacional Opositora party.@@@@1@25@@oe@2-2-2013
22044015@unknown@formal@none@1@S@Critics warned such cash contributions may only undercut the opposition party's standing, and one irony is that under Nicaraguan law a major portion of the opposition party's funds must be shared with the government's Supreme Electoral Council.@@@@1@37@@oe@2-2-2013
22044016@unknown@formal@none@1@S@Within the appropriations conference yesterday, the $67 billion measure is the second largest of the annual domestic spending bills and covers a disparate collection of accounts for science, housing, veterans and the environment.@@@@1@33@@oe@2-2-2013
22044017@unknown@formal@none@1@S@The decision to raise the ceiling on FHA home loans still faces strong opposition in the House.@@@@1@17@@oe@2-2-2013
22044018@unknown@formal@none@1@S@But it is driven by the same fiscal pressures that have forced lawmakers to resort to various bookkeeping devices to juggle as much as $1 billion in spending that would otherwise put the bill over budget.@@@@1@36@@oe@2-2-2013
22044019@unknown@formal@none@1@S@These costs will complicate the budget picture in fiscal 1991, and the measure further commits Congress to a set of costly projects, including the first construction funds for the space station.@@@@1@31@@oe@2-2-2013
22044020@unknown@formal@none@1@S@The station is promised $1.8 billion within the $5.36 billion provided for research and development in the National Aeronautics and Space Administration, and the nation's high-speed aerospace plane -- cut by the Senate -- could receive as much as $60 million in new funds or transfers.@@@@1@46@@oe@2-2-2013
22044021@unknown@formal@none@1@S@Similarly, the House agreed to add back $62 million to continue work on the advanced communications technology satellite, being developed by General Electric Co.@@@@1@24@@oe@2-2-2013
22044022@unknown@formal@none@1@S@And while setting a statutory limit of $1.6 billion on the automated space probe, the conference appropriated $30 million for the start-up of the CRAF-Cassini mission, a successor to the Voyager space probe.@@@@1@33@@oe@2-2-2013
22044023@unknown@formal@none@1@S@Among major domestic agencies, the Environmental Protection Agency stands to receive increases significantly beyond those sought by the administration, with pollution abatement and control accounts growing by 14% to about $829.9 million.@@@@1@32@@oe@2-2-2013
22044024@unknown@formal@none@1@S@An estimated $1.57 billion is separately allocated for the National Science Foundation, and within the Housing and Urban Development Department, more than $9.2 billion is provided for federally assisted housing, including an expanded effort to modernize public housing units that serve the poorest families.@@@@1@44@@oe@2-2-2013
22044025@unknown@formal@none@1@S@To an unusual degree, the massive bill has become a vehicle for lawmakers to earmark funds for projects in home states.@@@@1@21@@oe@2-2-2013
22044026@unknown@formal@none@1@S@While the practice was discouraged in the past, the conference agreement is laced with veterans' hospitals, environmental projects and urban grants designated for specific communities.@@@@1@25@@oe@2-2-2013
22044027@unknown@formal@none@1@S@The most striking example yesterday may have been in community development funds, where the two houses had separately approved a total of 27 projects valued at $20 million, and the conference added 15 more valued at $8 million to ostensibly preserve "balance" between the House and Senate.@@@@1@47@@oe@2-2-2013
22044028@unknown@formal@none@1@S@Yesterday's conference agreement is the second major bill to emerge from negotiations this week, as appropriators approved a fiscal 1990 transportation bill late Monday that includes a sweeping ban on smoking on most domestic airline flights.@@@@1@36@@oe@2-2-2013
22044029@unknown@formal@none@1@S@An exemption will remain for flights longer than six hours to Hawaii and Alaska, but estimates by the tobacco industry yesterday indicate all but about 30 flights would be covered.@@@@1@30@@oe@2-2-2013
22044030@unknown@formal@none@1@S@Separately, a third conference report covering an $18.4 billion Treasury and Postal Service bill was sent to the Senate after passing the House on a 383-30 roll call yesterday.@@@@1@29@@oe@2-2-2013
22044031@unknown@formal@none@1@S@And after weeks of delay, the appropriations process is beginning to take some final shape.@@@@1@15@@oe@2-2-2013
22044032@unknown@formal@none@1@S@Defense and foreign aid are the two most critical areas remaining from the administration's standpoint.@@@@1@15@@oe@2-2-2013
22044033@unknown@formal@none@1@S@And among domestic programs, the most serious threat is White House opposition to abortion riders attached to separate bills funding the District of Columbia and Department of Health and Human Services.@@@@1@31@@oe@2-2-2013
22044034@unknown@formal@none@1@S@The same issue threatens to spill over to the foreign aid debate, and Mr. Bush also is threatening to veto any agreement that preserves Senate-passed provisions renewing U.S. support for the United Nations Fund for Population Activities.@@@@1@37@@oe@2-2-2013
22044035@unknown@formal@none@1@S@In a sharply written letter, Rep. David Obey, chairman of the House appropriations subcommittee for foreign operations, warned Mr. Bush that the result of his "ultimatum" could weaken efforts to accommodate the administration elsewhere.@@@@1@34@@oe@2-2-2013
22044036@unknown@formal@none@1@S@"As a result of your ultimatum," writes the Wisconsin Democrat, "I guess there is no longer any point in taking administration views into account on other items in conference, inasmuch regardless of their resolution you apparently intend to veto this bill.@@@@1@41@@oe@2-2-2013
22045001@unknown@formal@none@1@S@Markets usually get noticed because they soar or plunge.@@@@1@9@@oe@2-2-2013
22045002@unknown@formal@none@1@S@Gold, which hasn't risen or fallen significantly in quite some time, yesterday achieved what may be a new level of impassiveness: The most actively traded futures contracts closed unchanged despite nervous fluctuations in both the dollar and the stock market.@@@@1@40@@oe@2-2-2013
22045003@unknown@formal@none@1@S@The settlement prices of the December, February and April gold contracts were even with Monday's final prices.@@@@1@17@@oe@2-2-2013
22045004@unknown@formal@none@1@S@The December 1989 contract, which has the greatest trading volume, ended at $371.20 an ounce.@@@@1@15@@oe@2-2-2013
22045005@unknown@formal@none@1@S@The other months posted advances of 10 cents to 20 cents an ounce.@@@@1@13@@oe@2-2-2013
22045006@unknown@formal@none@1@S@According to one analyst, Bernard Savaiko of PaineWebber, New York, the stock market's ability on Monday to rally from last Friday's decline -- which seemed to indicate that the economy wasn't going to fall either -- took the starch out of precious metals prices, and out of gold's, in particular.@@@@1@50@@oe@2-2-2013
22045007@unknown@formal@none@1@S@Yesterday, gold traded within a narrow range.@@@@1@7@@oe@2-2-2013
22045008@unknown@formal@none@1@S@Gold tried to rally on Monday but ran into the same situation that has subdued gold prices for more than a year: selling by gold producers, who want to fix the highest possible price for their gold.@@@@1@37@@oe@2-2-2013
22045009@unknown@formal@none@1@S@"December delivery gold is trading in a range of $365 to $375 {an ounce} and is having difficulty breaking out above that," Mr. Savaiko said.@@@@1@25@@oe@2-2-2013
22045010@unknown@formal@none@1@S@"Producers at the moment regard that area a good one in which to sell gold."@@@@1@15@@oe@2-2-2013
22045011@unknown@formal@none@1@S@Also, Mr. Savaiko noted, stock market investors seeking greater safety are veering toward buying bonds rather than precious metals because "we are tending more toward a disinflationary economy that doesn't make gold and precious metals attractive."@@@@1@36@@oe@2-2-2013
22045012@unknown@formal@none@1@S@Jeffrey Nichols, president of APMS Canada, Toronto precious metals advisers, said there is little to motivate gold traders to buy the metal.@@@@1@22@@oe@2-2-2013
22045013@unknown@formal@none@1@S@"Investors in the U.S. and Europe are comfortable with the actions of the {Federal Reserve} in its willingness to supply liquidity to financial system, which helped the stock market rebound on Monday," he said.@@@@1@34@@oe@2-2-2013
22045014@unknown@formal@none@1@S@There isn't any rush on the part of investors in the West to buy gold, he said.@@@@1@17@@oe@2-2-2013
22045015@unknown@formal@none@1@S@"They still bear the memory of October 1987, when they bought gold after the stock market crashed and ended up losing money because gold prices subsequently fell," Mr. Nichols said.@@@@1@30@@oe@2-2-2013
22045016@unknown@formal@none@1@S@"It's an experience they don't want to repeat."@@@@1@8@@oe@2-2-2013
22045017@unknown@formal@none@1@S@At the moment gold traders aren't concerned about inflation, he said, and as for the dollar, "gold's association with the currency has been diminishing recently so drops in the currency aren't having much impact on gold."@@@@1@36@@oe@2-2-2013
22045018@unknown@formal@none@1@S@Dinsa Mehta, chief bullion trader for Chase Manhattan Bank, said: "There is little incentive on the part of traders to sell gold because the stock market may go lower and gold may retain some of its `flight to safety' quality.@@@@1@40@@oe@2-2-2013
22045019@unknown@formal@none@1@S@There is little incentive to buy gold because if the stock market goes higher, it may be just a false alarm.@@@@1@21@@oe@2-2-2013
22045020@unknown@formal@none@1@S@This is keeping the gold traders handcuffed."@@@@1@7@@oe@2-2-2013
22045021@unknown@formal@none@1@S@The most remarkable feature about yesterday's action was that the price of roughly $370 an ounce was regarded as attractive enough by gold producers around the world to aggressively sell gold, Mr. Mehta said.@@@@1@34@@oe@2-2-2013
22045022@unknown@formal@none@1@S@"I don't know what it means over the long run, but for the short term, it appears that gold producers are grateful for the $10 or so that gold has risen over the past week or so," he said.@@@@1@39@@oe@2-2-2013
22045023@unknown@formal@none@1@S@Previously, he noted, gold producers tended to back off from a rising gold market, letting prices rise as much as possible before selling.@@@@1@23@@oe@2-2-2013
22045024@unknown@formal@none@1@S@Mr. Mehta observed that the U.S. merchandise trade deficit, which rose sharply in August, according to yesterday's report, has been having less and less impact on the gold market.@@@@1@29@@oe@2-2-2013
22045025@unknown@formal@none@1@S@"The dollar hasn't reacted much to it, so gold hasn't either," he said.@@@@1@13@@oe@2-2-2013
22045026@unknown@formal@none@1@S@In other commodity markets yesterday:@@@@1@5@@oe@2-2-2013
22045027@unknown@formal@none@1@S@ENERGY:@@@@1@1@@oe@2-2-2013
22045028@unknown@formal@none@1@S@Crude oil prices rose slightly in lackluster activity as traders in the pits tried to assess action in the stock market.@@@@1@21@@oe@2-2-2013
22045029@unknown@formal@none@1@S@Since stock market indexes plummeted last Friday, participants in all markets have been wary.@@@@1@14@@oe@2-2-2013
22045030@unknown@formal@none@1@S@When traders become confident that the stock market has stabilized, oil prices are expected to rise as supply and demand fundamentals once again become the major consideration.@@@@1@27@@oe@2-2-2013
22045031@unknown@formal@none@1@S@Crude oil for November delivery edged up by 16 cents a barrel to $20.75 a barrel.@@@@1@16@@oe@2-2-2013
22045032@unknown@formal@none@1@S@Heating oil prices also rose.@@@@1@5@@oe@2-2-2013
22045033@unknown@formal@none@1@S@November gasoline slipped slightly.@@@@1@4@@oe@2-2-2013
22045034@unknown@formal@none@1@S@SUGAR:@@@@1@1@@oe@2-2-2013
22045035@unknown@formal@none@1@S@Futures prices rose on a report that Cuba may seek to postpone some sugar shipments.@@@@1@15@@oe@2-2-2013
22045036@unknown@formal@none@1@S@The March contract advanced 0.14 cent a pound to 14.11 cents.@@@@1@11@@oe@2-2-2013
22045037@unknown@formal@none@1@S@According to an analyst, Cuba can't meet all its shipment commitments and has asked Japan to accept a delay of shipments scheduled for later this year, into early next year.@@@@1@30@@oe@2-2-2013
22045038@unknown@formal@none@1@S@"Japan is perceived as a wealthy nation that can turn elsewhere in the world market and buy the sugar," the analyst said.@@@@1@22@@oe@2-2-2013
22045039@unknown@formal@none@1@S@It was the possibility of this demand that helped firm prices, the analyst said.@@@@1@14@@oe@2-2-2013
22045040@unknown@formal@none@1@S@Another analyst noted that Cuba has been deferring shipments in recent years.@@@@1@12@@oe@2-2-2013
22045041@unknown@formal@none@1@S@"To the professionals in the trade it didn't cause much surprise.@@@@1@11@@oe@2-2-2013
22045042@unknown@formal@none@1@S@The March futures contract traded as high as 14.24 cents, but couldn't sustain the advance," he said.@@@@1@17@@oe@2-2-2013
22045043@unknown@formal@none@1@S@LIVESTOCK AND MEATS:@@@@1@3@@oe@2-2-2013
22045044@unknown@formal@none@1@S@The prices of cattle, hogs and pork belly futures contracts rebounded as livestock traders shook off fears that the Friday stock market plunge would chill consumer spending, which in turn would hurt retail sales of beef and pork.@@@@1@38@@oe@2-2-2013
22045045@unknown@formal@none@1@S@The prices of most livestock futures contracts had dropped sharply Monday.@@@@1@11@@oe@2-2-2013
22045046@unknown@formal@none@1@S@Cattle futures prices were also supported yesterday by signs that supermarket chains are making plans to increase their promotions concerning beef.@@@@1@21@@oe@2-2-2013
22045047@unknown@formal@none@1@S@GRAINS AND SOYBEANS:@@@@1@3@@oe@2-2-2013
22045048@unknown@formal@none@1@S@The prices of most soybean and soybean-meal futures contracts rose amid rumors that the Soviet Union is interested in buying from the U.S. or South America about 250,000 metric tons of soybeans and as many as 400,000 metric tons of soybean meal.@@@@1@42@@oe@2-2-2013
22045049@unknown@formal@none@1@S@Traders are especially sensitive to reports of possible U.S. soybean sales because U.S. exports are lagging.@@@@1@16@@oe@2-2-2013
22045050@unknown@formal@none@1@S@Since Sept. 1, about 13 million fewer bushels of U.S. soybeans have been sold overseas than for the same period last year.@@@@1@22@@oe@2-2-2013
22045051@unknown@formal@none@1@S@Corn futures prices rose slightly while wheat prices settled mixed.@@@@1@10@@oe@2-2-2013
22046001@unknown@formal@none@1@S@Moody's Investors Service Inc., fretting about increasing competitive pressure on Ryder, placed about $2.8 billion in company securities under review for possible downgrade.@@@@1@23@@oe@2-2-2013
22046002@unknown@formal@none@1@S@Ratings under review are Ryder's A-1 collateral trust debentures, A-2 senior notes and bonds, A-2 preferred stock and the company's Prime-1 rating for commercial paper.@@@@1@25@@oe@2-2-2013
22046003@unknown@formal@none@1@S@Moody's said it is assessing the strategies Ryder's management may follow in addressing significant challenges in some major markets.@@@@1@19@@oe@2-2-2013
22046004@unknown@formal@none@1@S@The rating agency said it is focusing especially on the transportation service company's efforts to control costs, improve margins and enhance its competitive position in its primary business, vehicle leasing and rental.@@@@1@32@@oe@2-2-2013
22047001@unknown@formal@none@1@S@The nations of southern Africa know a lot about managing elephants; their herds are thriving.@@@@1@15@@oe@2-2-2013
22047002@unknown@formal@none@1@S@But the nations of Europe and North America have decided they know better.@@@@1@13@@oe@2-2-2013
22047003@unknown@formal@none@1@S@At this week's U.N. conference in Lausanne, they imposed a global ivory ban that seeks to overturn local policies.@@@@1@19@@oe@2-2-2013
22047004@unknown@formal@none@1@S@A Zimbabwean delegate argued that the ban would "guarantee the extinction of the elephant."@@@@1@14@@oe@2-2-2013
22047005@unknown@formal@none@1@S@Legitimate ranchers, who have an interest in preserving the herds, would go out of business.@@@@1@15@@oe@2-2-2013
22047006@unknown@formal@none@1@S@Poachers would control the underground trade.@@@@1@6@@oe@2-2-2013
22047007@unknown@formal@none@1@S@Many delegates were willing to craft a compromise, but U.S. delegate Constance Harriman and others thundered that down.@@@@1@18@@oe@2-2-2013
22047008@unknown@formal@none@1@S@The Greens from the First World wanted a morality play, not a negotiation.@@@@1@13@@oe@2-2-2013
22047009@unknown@formal@none@1@S@Fortunately, the nations of southern Africa haven't totally surrendered their sovereignty.@@@@1@11@@oe@2-2-2013
22047010@unknown@formal@none@1@S@Five countries announced they would not honor what one Zimbabwean delegate wryly called the "made in Switzerland" solution.@@@@1@18@@oe@2-2-2013
22047011@unknown@formal@none@1@S@In fact, they seemed a mite resentful.@@@@1@7@@oe@2-2-2013
22047012@unknown@formal@none@1@S@The director of Zimbabwe's Wildlife Department described American conservationists as "fat little puppies from urban environments who don't know a thing about Africa."@@@@1@23@@oe@2-2-2013
22047013@unknown@formal@none@1@S@That's not fair; they're not all fat.@@@@1@7@@oe@2-2-2013
22048001@unknown@formal@none@1@S@HUGO'S BLAST generates pleas for aid from South Carolina small businesses.@@@@1@11@@oe@2-2-2013
22048002@unknown@formal@none@1@S@The Small Business Administration has received more than 5,000 formal requests for disaster loans because of the hurricane.@@@@1@18@@oe@2-2-2013
22048003@unknown@formal@none@1@S@About 45% of requests for SBA relief loans, which also are available to homeowners, come from small businesses, compared with a 25% business share after most disasters.@@@@1@27@@oe@2-2-2013
22048004@unknown@formal@none@1@S@The SBA expects to make about $1 billion in Hurricane Hugo loans.@@@@1@12@@oe@2-2-2013
22048005@unknown@formal@none@1@S@The disaster fund is replenished by loan repayments.@@@@1@8@@oe@2-2-2013
22048006@unknown@formal@none@1@S@Hardest hit by Hugo in South Carolina were small retailers tied to the tourist industry and businesses in agriculture and cultivated seafood.@@@@1@22@@oe@2-2-2013
22048007@unknown@formal@none@1@S@The State Development Board set up a Hugo Hotline to accept business-to-business help.@@@@1@13@@oe@2-2-2013
22048008@unknown@formal@none@1@S@After NBC weather man Willard Scott broadcast the hot-line number, it was flooded with 10,000 calls.@@@@1@16@@oe@2-2-2013
22048009@unknown@formal@none@1@S@Last week, the U.S. Chamber of Commerce began using its national TV show to seek help, such as equipment, for business owners.@@@@1@22@@oe@2-2-2013
22048010@unknown@formal@none@1@S@Local bankers and accountants help applicants fill out forms.@@@@1@9@@oe@2-2-2013
22048011@unknown@formal@none@1@S@"It helps us, and people feel better talking to someone who's gone through the same thing," an SBA official says.@@@@1@20@@oe@2-2-2013
22048012@unknown@formal@none@1@S@HEALTH BENEFITS remain a central lobbying effort, even as Section 89 fades.@@@@1@12@@oe@2-2-2013
22048013@unknown@formal@none@1@S@The Senate, after deleting Section 89 repeal from its deficit-reduction bill, still is expected to join the House in voting to kill the law, which forces companies to provide comparable benefits to laborers and executives alike.@@@@1@36@@oe@2-2-2013
22048014@unknown@formal@none@1@S@In lobbying on other health-coverage topics, the National Federation of Independent Business will press for legislation that would give self-employed people a 100% tax deduction for their own health plans, up from 25% currently.@@@@1@34@@oe@2-2-2013
22048015@unknown@formal@none@1@S@And the group will urge that the federal government pre-empt state rules on what must be covered by employers' health insurance.@@@@1@21@@oe@2-2-2013
22048016@unknown@formal@none@1@S@Small-business groups also will fight the medical-leave provision of legislation that would expand parental leaves.@@@@1@15@@oe@2-2-2013
22048017@unknown@formal@none@1@S@And they still oppose as too costly an employer-paid health insurance bill sponsored by Sen. Edward Kennedy (D., Mass.) despite his proposal to phase in small business only gradually.@@@@1@29@@oe@2-2-2013
22048018@unknown@formal@none@1@S@There is also worry that the Pepper Commission studying long-term health care will again push lawmakers toward employerpaid solutions.@@@@1@19@@oe@2-2-2013
22048019@unknown@formal@none@1@S@The Section 89 victory could have a downside by making it harder to oppose lawmakers on other health proposals.@@@@1@19@@oe@2-2-2013
22048020@unknown@formal@none@1@S@"With the repeal of Section 89, we can no longer say they're discouraging businesses from offering health plans," says Christine Russell, the Chamber of Commerce's small-business advocate.@@@@1@27@@oe@2-2-2013
22048021@unknown@formal@none@1@S@JUMPING THE GUN:@@@@1@3@@oe@2-2-2013
22048022@unknown@formal@none@1@S@Sen. Lloyd Bentsen (D., Texas) was outraged after a private word to John Motley, lobbyist for the National Federation of Independent Business, resulted in a news release saying that the Senate Finance Committee chairman would recommend repeal of Section 89.@@@@1@40@@oe@2-2-2013
22048023@unknown@formal@none@1@S@Even though the announcement was true in the end, it was issued without the senator's permission.@@@@1@16@@oe@2-2-2013
22048024@unknown@formal@none@1@S@"I blew it," Mr. Motley says apologetically.@@@@1@7@@oe@2-2-2013
22048025@unknown@formal@none@1@S@"It was a timing mistake."@@@@1@5@@oe@2-2-2013
22048026@unknown@formal@none@1@S@PRISON-SHOP BLUES:@@@@1@2@@oe@2-2-2013
22048027@unknown@formal@none@1@S@Sen. Strom Thurmond (R., S.C.) protests pending legislation to end the preference that the federal prison system gets in selling prisoner-made furniture and other goods to government agencies.@@@@1@28@@oe@2-2-2013
22048028@unknown@formal@none@1@S@Small-business suppliers want prisons to stop getting high priority, especially as prison production grows with swelling inmate populations.@@@@1@18@@oe@2-2-2013
22048029@unknown@formal@none@1@S@Last year, the prisons' sales to the Pentagon totaled $336 million.@@@@1@11@@oe@2-2-2013
22048030@unknown@formal@none@1@S@REPAIR SHOPS SCRAP for more access to work on auto-emissions systems.@@@@1@11@@oe@2-2-2013
22048031@unknown@formal@none@1@S@Groups representing some independent auto-repair shops join a compromise on the Clean Air legislation worked out between environmentalists and Rep. Henry Waxman (D., Calif.).@@@@1@24@@oe@2-2-2013
22048032@unknown@formal@none@1@S@The plan would increase the warranty on auto-emission systems to eight years or 80,000 miles from five years or 50,000 for major parts.@@@@1@23@@oe@2-2-2013
22048033@unknown@formal@none@1@S@But the warranty on simpler parts would be lowered to two years or 24,000 miles.@@@@1@15@@oe@2-2-2013
22048034@unknown@formal@none@1@S@The garage owners say they would benefit because car owners would be less likely to go back to dealers for the simpler repairs after two years.@@@@1@26@@oe@2-2-2013
22048035@unknown@formal@none@1@S@The repair shops aren't united, however.@@@@1@6@@oe@2-2-2013
22048036@unknown@formal@none@1@S@Shops represented by the Automotive Service Industry Association and the Motor Equipment Manufacturers Association oppose any increase in warranty length.@@@@1@20@@oe@2-2-2013
22048037@unknown@formal@none@1@S@They say the longer the warranty, the longer customers will automatically return to new-car dealers, which then find non-warranty work that might otherwise go to repair shops.@@@@1@27@@oe@2-2-2013
22048038@unknown@formal@none@1@S@The House Energy Committee will debate the issue later this month.@@@@1@11@@oe@2-2-2013
22048039@unknown@formal@none@1@S@Stan Hathcock, an Atlanta garage owner who opposes a longer warranty, estimates that the current plan costs him as much as $15,000 a year in lost business.@@@@1@27@@oe@2-2-2013
22048040@unknown@formal@none@1@S@SMALL TALK:@@@@1@2@@oe@2-2-2013
22048041@unknown@formal@none@1@S@Some 70% of graduates who recently earned an M.B.A. degree say they'd prefer to work in or own a small company, yet most take jobs with large concerns, says a survey by the Foster McKay Group, a New York recruiting firm. . . .@@@@1@44@@oe@2-2-2013
22048042@unknown@formal@none@1@S@Cardinal Scientific Inc. of Waldorf, Md., seeks a Small Business Innovation Research grant to produce a "nozzle assembly for an Army mass delousing outfit.@@@@1@24@@oe@2-2-2013
22049001@unknown@formal@none@1@S@Banc One Corp. said Frank E. McKinney plans to retire as the bank holding company's president effective Jan. 12.@@@@1@19@@oe@2-2-2013
22049002@unknown@formal@none@1@S@Banc One said "it is contemplated" that John B. McCoy, chairman and chief executive officer, will assume the additional position of president upon Mr. McKinney's retirement.@@@@1@26@@oe@2-2-2013
22049003@unknown@formal@none@1@S@Mr. McKinney, 50 years old, was chairman and chief executive of American Fletcher Corp., Indianapolis, when that bank holding company merged into Banc One in January 1987.@@@@1@27@@oe@2-2-2013
22049004@unknown@formal@none@1@S@The company said Mr. McKinney plans to retire because the process of affiliating American Fletcher into Banc One "is considered completed."@@@@1@21@@oe@2-2-2013
22049005@unknown@formal@none@1@S@Mr. McKinney will continue as chairman of the board and chairman of the executive committee of Banc One Indiana Corp., the successor company to American Fletcher Corp., but will no longer be active in day-to-day management.@@@@1@36@@oe@2-2-2013
22049006@unknown@formal@none@1@S@He will remain on the Banc One board.@@@@1@8@@oe@2-2-2013
22050001@unknown@formal@none@1@S@The Treasury plans to raise $1.55 billion in new cash with the sale Monday of about $15.6 billion in short-term bills to redeem $14.1 billion in maturing bills.@@@@1@28@@oe@2-2-2013
22050002@unknown@formal@none@1@S@The offering will be divided evenly between 13-week and 26-week bills maturing on Jan. 25, 1990, and April 26, 1990, respectively.@@@@1@21@@oe@2-2-2013
22050003@unknown@formal@none@1@S@Tenders for the bills, available in minimum $10,000 denominations, must be received by 1 p.m. EDT Monday at the Treasury or at Federal Reserve banks or branches.@@@@1@27@@oe@2-2-2013
22051001@unknown@formal@none@1@S@Moody's Investors Service Inc. said it lowered ratings on about $650 million of Beatrice Co. debt, citing the closely held Chicago food concern's proposed recapitalization.@@@@1@25@@oe@2-2-2013
22051002@unknown@formal@none@1@S@The ratings concern said it downgraded Beatrice notes, Euronotes and certain industrial revenue bonds to single-B-1 from Ba-3 and the company's subordinated debentures to single-B-3 from single-B-2.@@@@1@27@@oe@2-2-2013
22051003@unknown@formal@none@1@S@Moody's said the proposed recaptilization may "limit the company's ability to realize its profit potential" and that paying dividends from a new series of preferred could squeeze "basic business operations."@@@@1@30@@oe@2-2-2013
22051004@unknown@formal@none@1@S@A Beatrice spokesman didn't return calls seeking comment.@@@@1@8@@oe@2-2-2013
22051005@unknown@formal@none@1@S@Beatrice, which went private in an $8.2 billion leveraged buy-out in 1986, said last month that it might borrow again to help pay investors as much as $983 million in preferred stock and debt securities.@@@@1@35@@oe@2-2-2013
22052001@unknown@formal@none@1@S@When the Soviets announced their last soldier had left Afghanistan in February, the voices of skepticism were all but drowned out by an international chorus of euphoria.@@@@1@27@@oe@2-2-2013
22052002@unknown@formal@none@1@S@It was "the Soviets' Vietnam."@@@@1@5@@oe@2-2-2013
22052003@unknown@formal@none@1@S@The Kabul regime would fall.@@@@1@5@@oe@2-2-2013
22052004@unknown@formal@none@1@S@Millions of refugees would rush home.@@@@1@6@@oe@2-2-2013
22052005@unknown@formal@none@1@S@A resistance government would walk into Kabul.@@@@1@7@@oe@2-2-2013
22052006@unknown@formal@none@1@S@Those who bought that illusion are now bewildered.@@@@1@8@@oe@2-2-2013
22052007@unknown@formal@none@1@S@Eight months after Gen. Boris Gromov walked across the bridge into the U.S.S.R., a Soviet-controlled regime remains in Kabul, the refugees sit in their camps, and the restoration of Afghan freedom seems as far off as ever.@@@@1@37@@oe@2-2-2013
22052008@unknown@formal@none@1@S@But there never was a chance that the Afghan resistance would overthrow the Kabul regime quickly and easily.@@@@1@18@@oe@2-2-2013
22052009@unknown@formal@none@1@S@Soviet leaders said they would support their Kabul clients by all means necessary -- and did.@@@@1@16@@oe@2-2-2013
22052010@unknown@formal@none@1@S@The U.S. said it would fully support the resistance -- and didn't.@@@@1@12@@oe@2-2-2013
22052011@unknown@formal@none@1@S@With the February 1987 U.N. accords "relating to Afghanistan," the Soviet Union got everything it needed to consolidate permanent control.@@@@1@20@@oe@2-2-2013
22052012@unknown@formal@none@1@S@The terms of the Geneva accords leave Moscow free to provide its clients in Kabul with assistance of any kind -- including the return of Soviet ground forces -- while requiring the U.S. and Pakistan to cut off aid.@@@@1@39@@oe@2-2-2013
22052013@unknown@formal@none@1@S@The only fly in the Soviet ointment was the last-minute addition of a unilateral American caveat, that U.S. aid to the resistance would continue as long as Soviet aid to Kabul did.@@@@1@32@@oe@2-2-2013
22052014@unknown@formal@none@1@S@But as soon as the accords were signed, American officials sharply reduced aid.@@@@1@13@@oe@2-2-2013
22052015@unknown@formal@none@1@S@In February 1989, when the Soviets said they had completed their pullout, the U.S. cut it further.@@@@1@17@@oe@2-2-2013
22052016@unknown@formal@none@1@S@Not so the Soviets.@@@@1@4@@oe@2-2-2013
22052017@unknown@formal@none@1@S@Gen. Gromov himself said Soviet troops expected to leave behind more than $1 billion of military equipment and installations for the Kabul regime.@@@@1@23@@oe@2-2-2013
22052018@unknown@formal@none@1@S@Since the troop withdrawal, Moscow has poured in an additional $200 to $300 million worth per month -- nearly $2 billion since February, equivalent to the total U.S. aid to the resistance in nine years.@@@@1@35@@oe@2-2-2013
22052019@unknown@formal@none@1@S@This includes what Deputy Foreign Minister Yuli Vorontsov fetchingly called "new peaceful long-range weapons," including more than 800 SCUD missiles.@@@@1@20@@oe@2-2-2013
22052020@unknown@formal@none@1@S@By early May, Moscow had delivered, for example, 1,000 trucks, about 100 tanks, artillery and hundreds of other combat vehicles.@@@@1@20@@oe@2-2-2013
22052021@unknown@formal@none@1@S@Later that month, it added an entire tank brigade, including 120 T-72 tanks and more than 40 BMP state-of-the-art infantry fighting vehicles.@@@@1@22@@oe@2-2-2013
22052022@unknown@formal@none@1@S@By September, a new Reinforced Motorized Rifle Brigade with an additional 300 combat vehicles, 1,000 more trucks and 10,000 Soviet-trained Afghan troops had arrived in Kandahar.@@@@1@26@@oe@2-2-2013
22052023@unknown@formal@none@1@S@In the last few weeks, Moscow has added FROG-7B missiles, the bomber version of the An-12, MiG-23BN high-altitude aircraft, MiG-29s, which can outfly Pakistan's U.S.-built F16s, and Sukhoi SU-27 fighter-bombers, which can outfly the MiG-29s.@@@@1@35@@oe@2-2-2013
22052024@unknown@formal@none@1@S@Moscow claims this is all needed to protect the Kabul regime against the guerrilla resistance.@@@@1@15@@oe@2-2-2013
22052025@unknown@formal@none@1@S@It is well-known that the regular Afghan infantry is filled with reluctant conscripts.@@@@1@13@@oe@2-2-2013
22052026@unknown@formal@none@1@S@But this is not the entire Afghan army, and it is no longer Kabul's only military force.@@@@1@17@@oe@2-2-2013
22052027@unknown@formal@none@1@S@Complete units have been trained and indoctrinated in the U.S.S.R. and other East bloc nations; 30,000 to 40,000 of these troops have returned.@@@@1@23@@oe@2-2-2013
22052028@unknown@formal@none@1@S@In addition, the regime has established well-paid paramilitary forces totaling more than 100,000, including 35,000 Soviet-trained troops of the Interior Ministry (KHAD/WAD), which still is directed by 1,500 Soviet KGB officers.@@@@1@31@@oe@2-2-2013
22052029@unknown@formal@none@1@S@Even if not all these forces are committed to the regime, they are now dependent on it.@@@@1@17@@oe@2-2-2013
22052030@unknown@formal@none@1@S@And thousands of Afghan children have been taken to the Soviet Union, where they are hostage for the behavior of their families.@@@@1@22@@oe@2-2-2013
22052031@unknown@formal@none@1@S@Since 1981, Indian military advisers have been assisting the Kabul regime.@@@@1@11@@oe@2-2-2013
22052032@unknown@formal@none@1@S@In preparation for the withdrawal, Moscow, Kabul and New Delhi signed two agreements for several hundred newly civilian Indian experts to replace some of the more visible Soviet military personnel.@@@@1@30@@oe@2-2-2013
22052033@unknown@formal@none@1@S@Cuban military personnel also have been active in Afghanistan since 1979.@@@@1@11@@oe@2-2-2013
22052034@unknown@formal@none@1@S@The Soviets cut a deal with Iran: a future Iranian role in Afghanistan in exchange for Iranian support of Soviet policy.@@@@1@21@@oe@2-2-2013
22052035@unknown@formal@none@1@S@The deal was symbolized by the restoration of the Shi'ite Sultan Ali Keshtmand to the Afghan prime ministry.@@@@1@18@@oe@2-2-2013
22052036@unknown@formal@none@1@S@Moreover, serious questions have been raised about the claimed withdrawal of Soviet forces.@@@@1@13@@oe@2-2-2013
22052037@unknown@formal@none@1@S@Before his assassination in 1988, President Zia of Pakistan repeatedly stated that fresh Soviet troops were being inserted into Afghanistan even as others were ostentatiously withdrawn.@@@@1@26@@oe@2-2-2013
22052038@unknown@formal@none@1@S@Rep. Bill McCollum (R., Fla.) reports that these included 20,000 to 30,000 Soviet Central Asian KGB Border Guards, ethnically indistinguishable from Afghans and wearing unmarked uniforms.@@@@1@26@@oe@2-2-2013
22052039@unknown@formal@none@1@S@Meanwhile, the Kabul regime is increasingly successful at portraying the resistance as bloody-minded fanatics.@@@@1@14@@oe@2-2-2013
22052040@unknown@formal@none@1@S@In this they are aided by years of American, European, Pakistani and Saudi support for the most extreme factions -- radical Islamic fanatics with leaders whose policies are anathema to the Afghan public.@@@@1@33@@oe@2-2-2013
22052041@unknown@formal@none@1@S@This heavy outside support for the worst has undermined better, moderate leaders.@@@@1@12@@oe@2-2-2013
22052042@unknown@formal@none@1@S@In autumn last year, for example, the regime garrison at Kandahar was prepared to surrender the city to resistance moderates.@@@@1@20@@oe@2-2-2013
22052043@unknown@formal@none@1@S@At the last minute, however, Pakistani officials sent in Gulbuddin Hekhmatyar, perhaps the most hated and feared of the extremists, with a demand that the surrender be made to his forces.@@@@1@31@@oe@2-2-2013
22052044@unknown@formal@none@1@S@The deal fell through, and Kandahar remains a major regime base.@@@@1@11@@oe@2-2-2013
22052045@unknown@formal@none@1@S@The resistance lacks not only air power, armor and expertise but often such essentials as maps, mine detectors, or even winter gloves.@@@@1@22@@oe@2-2-2013
22052046@unknown@formal@none@1@S@Experienced resistance commanders wanted to use guerrilla action and siege tactics to wear down the regime.@@@@1@16@@oe@2-2-2013
22052047@unknown@formal@none@1@S@Instead, they were pressured by Pakistan's ISI, the channel for their support, into attacking Jalalabad.@@@@1@15@@oe@2-2-2013
22052048@unknown@formal@none@1@S@They took more than 25% casualties; journalists report that they faced minefields without mine detectors.@@@@1@15@@oe@2-2-2013
22052049@unknown@formal@none@1@S@The wonder is not that the resistance has failed to topple the Kabul regime, but that it continues to exist and fight at all.@@@@1@24@@oe@2-2-2013
22052050@unknown@formal@none@1@S@Last summer, in response to congressional criticism, the State Department and the CIA said they had resumed military aid to the resistance months after it was cut off; but it is not clear how much is being sent or when it will arrive.@@@@1@43@@oe@2-2-2013
22052051@unknown@formal@none@1@S@For months the resistance has been defenseless against air attack.@@@@1@10@@oe@2-2-2013
22052052@unknown@formal@none@1@S@Thus far there is no indication that they have been re-supplied with Stingers or other anti-aircraft weapons.@@@@1@17@@oe@2-2-2013
22052053@unknown@formal@none@1@S@Indeed, U.S. officials have indicated to the press that the continuation of aid depends on what success the weakened resistance achieves by the end of this year.@@@@1@27@@oe@2-2-2013
22052054@unknown@formal@none@1@S@Moscow and Kabul must have found that information useful.@@@@1@9@@oe@2-2-2013
22052055@unknown@formal@none@1@S@For a decade U.S. policy has been incoherent, based on miscalculation and the defense of bureaucratic and political turf.@@@@1@19@@oe@2-2-2013
22052056@unknown@formal@none@1@S@No settlement negotiated by others can force the Afghan people to give up their struggle.@@@@1@15@@oe@2-2-2013
22052057@unknown@formal@none@1@S@A cutoff of U.S. military aid would merely abandon them to die in vain.@@@@1@14@@oe@2-2-2013
22052058@unknown@formal@none@1@S@Creation of a new, realistic U.S. policy is long overdue.@@@@1@10@@oe@2-2-2013
22052059@unknown@formal@none@1@S@Ms. Klass, editor and co-author of "Afghanistan: The Great Game Revisited" (Freedom House), directs the Freedom House program on Afghanistan/Southwest Asia.@@@@1@21@@oe@2-2-2013
22053001@unknown@formal@none@1@S@Nothing stirred the soul of Ronald Reagan and his disciples as much as the crusade to aid Nicaragua's Contra rebels, or the dream of building a space-based defense shield to knock out Soviet nuclear missiles.@@@@1@35@@oe@2-2-2013
22053002@unknown@formal@none@1@S@Yet under Mr. Reagan's preferred successor, President Bush, those two cherished national-security causes are withering on the vine.@@@@1@18@@oe@2-2-2013
22053003@unknown@formal@none@1@S@And, surprisingly, little more than a whimper of protest is being heard, even though Reaganauts once breathed fire supporting the Contras and the Strategic Defense Initiative.@@@@1@26@@oe@2-2-2013
22053004@unknown@formal@none@1@S@"The programs have arthritis," says Rep. Henry Hyde, a conservative Republican from Illinois.@@@@1@13@@oe@2-2-2013
22053005@unknown@formal@none@1@S@Yet, he asserts, "you look around . . . and you say, `Who are the leaders?@@@@1@16@@oe@2-2-2013
22053006@unknown@formal@none@1@S@Who is going to carry the water?'"@@@@1@7@@oe@2-2-2013
22053007@unknown@formal@none@1@S@It isn't surprising that President Bush hasn't led a crusade to pump up the Contras or SDI.@@@@1@17@@oe@2-2-2013
22053008@unknown@formal@none@1@S@Though he nominally supports both programs, Mr. Bush hasn't been a passionate champion of either cause, as Mr. Reagan was.@@@@1@20@@oe@2-2-2013
22053009@unknown@formal@none@1@S@What's surprising is that there isn't more of a conservative outcry as the Bush administration lets the programs slip down the national-priority list.@@@@1@23@@oe@2-2-2013
22053010@unknown@formal@none@1@S@A combination of factors -- a weariness among some conservatives, a decline in the perception of a Soviet threat and a preoccupation with other issues -- seem to explain the strange tranquility.@@@@1@32@@oe@2-2-2013
22053011@unknown@formal@none@1@S@Above all, though, conservative Republicans who have championed both the Contras and SDI are reluctant to attack a Republican president for failing to do more -- though that reluctance may be receding.@@@@1@32@@oe@2-2-2013
22053012@unknown@formal@none@1@S@"We want to complain, we want to say something about it, and we're going to as it gets worse," says Rep. Dan Burton, an Indiana Republican who has been a staunch Contra backer.@@@@1@33@@oe@2-2-2013
22053013@unknown@formal@none@1@S@"But it's like kicking your father in the pants.@@@@1@9@@oe@2-2-2013
22053014@unknown@formal@none@1@S@You hate to do it because he's your father."@@@@1@9@@oe@2-2-2013
22053015@unknown@formal@none@1@S@Mr. Burton says conservatives' unhappiness with Mr. Bush's cautious handling of the recent unsuccessful coup in Panama will make them more willing to speak out.@@@@1@25@@oe@2-2-2013
22053016@unknown@formal@none@1@S@Of course, neither President Bush nor the Congress has actually abandoned the Contras or SDI.@@@@1@15@@oe@2-2-2013
22053017@unknown@formal@none@1@S@Mr. Bush has struck a deal with congressional leaders to provide nonlethal aid to the Contras until Nicaragua holds national elections next February.@@@@1@23@@oe@2-2-2013
22053018@unknown@formal@none@1@S@But the administration has dropped any effort to win military aid for the rebels.@@@@1@14@@oe@2-2-2013
22053019@unknown@formal@none@1@S@And the administration's deal with Congress gives several congressional committees the right to cut off even humanitarian aid next month, though the committees are likely to let aid continue until February.@@@@1@31@@oe@2-2-2013
22053020@unknown@formal@none@1@S@Most analysts think there's little prospect the Contras can be a significant fighting force without U.S. arms, and after the February election their future in any form will be murky at best.@@@@1@32@@oe@2-2-2013
22053021@unknown@formal@none@1@S@Instead of focusing on the Contras, Mr. Bush has switched to urging members of Congress -- most recently in a White House meeting yesterday -- to approve financing for the election campaign of political opponents of Nicaragua's Sandinista government.@@@@1@39@@oe@2-2-2013
22053022@unknown@formal@none@1@S@The administration continues to support SDI, or Star Wars, and it recently lobbied to persuade the Senate to restore some of the funds it planned to cut from the program.@@@@1@30@@oe@2-2-2013
22053023@unknown@formal@none@1@S@And just last week, Defense Secretary Dick Cheney gave a strong speech listing "compelling reasons" to push ahead with SDI and saying he'd urge President Bush to veto a defense bill with "inadequate" funding for the program.@@@@1@37@@oe@2-2-2013
22053024@unknown@formal@none@1@S@But the strong pitch by Mr. Cheney may be too little too late to prevent damage to SDI.@@@@1@18@@oe@2-2-2013
22053025@unknown@formal@none@1@S@The House has already voted for a deep cut in funding, and in the end the program's backers will be hard pressed to head off some reduction in spending next year.@@@@1@31@@oe@2-2-2013
22053026@unknown@formal@none@1@S@And while the defense secretary is speaking out, President Bush himself hasn't launched any high-visibility campaign to drum up support, as President Reagan did.@@@@1@24@@oe@2-2-2013
22053027@unknown@formal@none@1@S@The administration also acknowledges that it isn't pursuing Mr. Reagan's original vision of an "impenetrable shield" protecting the whole U.S., but rather a more modest version.@@@@1@26@@oe@2-2-2013
22053028@unknown@formal@none@1@S@More ominous to SDI supporters, the Bush administration appears to have tacitly accepted a new arms-control proposal from the Soviet Union that spells long-term trouble for Star Wars.@@@@1@28@@oe@2-2-2013
22053029@unknown@formal@none@1@S@The Soviets have agreed to complete a treaty cutting strategic weapons without including restrictions on space-based defenses.@@@@1@17@@oe@2-2-2013
22053030@unknown@formal@none@1@S@But the Soviets also are insisting that they will reserve the right to withdraw from the completed strategic-arms treaty later on if the U.S. does SDI testing or deployment that the Soviets think violates the existing anti-ballistic-missile treaty.@@@@1@38@@oe@2-2-2013
22053031@unknown@formal@none@1@S@It will be hard down the road to persuade Congress to approve money for SDI plans if lawmakers fear those plans could scuttle a completed treaty.@@@@1@26@@oe@2-2-2013
22053032@unknown@formal@none@1@S@As a result, Frank Gaffney, a former Reagan Pentagon aide who now heads the Center for Security Policy, charges that the administration's "professions of continued commitment to development and deployment of the SDI program strain credulity."@@@@1@36@@oe@2-2-2013
22053033@unknown@formal@none@1@S@Still, proponents may be shying away from more drumbeating because they sense political tides have turned against arming the Nicaraguan rebels or boosting spending on SDI -- particularly when the public perceives the Soviet threat is declining under Mikhail Gorbachev.@@@@1@40@@oe@2-2-2013
22053034@unknown@formal@none@1@S@In fact, because communism seems to be beating a global retreat, some conservatives may simply be so pleased that their anti-communist philosophy is prevailing that they don't have the fire at the moment to push controversial programs.@@@@1@37@@oe@2-2-2013
22053035@unknown@formal@none@1@S@"The short of it is that the most hard-bitten among us cannot get into too sour a mood with communism collapsing," says Mitchell Daniels, a former Reagan White House aide who now is president of the Hudson Institute.@@@@1@38@@oe@2-2-2013
22053036@unknown@formal@none@1@S@Some activists are toiling to raise the profile of the two causes.@@@@1@12@@oe@2-2-2013
22053037@unknown@formal@none@1@S@But they say they can't make much headway because of a lack of willing leaders in a position to turn the tide.@@@@1@22@@oe@2-2-2013
22053038@unknown@formal@none@1@S@One longtime champion of these programs in Congress, Republican whip Newt Gingrich of Georgia, is distracted by questions about his ethics, conservatives note.@@@@1@23@@oe@2-2-2013
22053039@unknown@formal@none@1@S@Other conservative champions, like Wyoming Republican Sen. Malcolm Wallop, a longtime SDI advocate, don't have the clout with the Bush White House that they enjoyed with President Reagan.@@@@1@28@@oe@2-2-2013
22053040@unknown@formal@none@1@S@Above all, though, proponents say neither the Contra nor the SDI cause can be pushed much further without more presidential support.@@@@1@21@@oe@2-2-2013
22053041@unknown@formal@none@1@S@"For there to be wind in the sails of any program, the chief executive has to be blowing in the sails," says Rep. Burton.@@@@1@24@@oe@2-2-2013
22053042@unknown@formal@none@1@S@All this causes Rep. Hyde to muse about an alternate way to drum up more enthusiasm.@@@@1@16@@oe@2-2-2013
22053043@unknown@formal@none@1@S@"What I'd like to see, if he is up to it, is for Reagan to take to the hustings to regenerate enthusiasm for SDI," the congressman says.@@@@1@27@@oe@2-2-2013
22054001@unknown@formal@none@1@S@We're sorry to report that on Monday President Bush accepted the resignation of William Allen as chairman of the U.S. Civil Rights Commission.@@@@1@23@@oe@2-2-2013
22054002@unknown@formal@none@1@S@Mr. Allen, appointed by President Reagan, grew understandably tired of dealing with the guerrilla tactics of his enemies.@@@@1@18@@oe@2-2-2013
22054003@unknown@formal@none@1@S@His recent speech, provocatively titled "Blacks? Animals? Homosexuals? What is a Minority?" caused an uproar when its title leaked out.@@@@1@20@@oe@2-2-2013
22054004@unknown@formal@none@1@S@Mr. Allen's commissioners voted to call his unread speech "thoughtless, disgusting and unnecessarily inflammatory."@@@@1@14@@oe@2-2-2013
22054005@unknown@formal@none@1@S@Commissioner Mary Francis Berry said it was "another sad episode in the saga of the unguided missile who is chairman."@@@@1@20@@oe@2-2-2013
22054006@unknown@formal@none@1@S@Rep. Don Edwards, the California Democrat, warned Mr. Allen that the speech would be "outside the scope of the commission's jurisdiction."@@@@1@21@@oe@2-2-2013
22054007@unknown@formal@none@1@S@Thomas Stoddard, head of the Lambda Legal Defense Fund, called the prospect of the speech "frankly shocking."@@@@1@17@@oe@2-2-2013
22054008@unknown@formal@none@1@S@We've actually read the speech.@@@@1@5@@oe@2-2-2013
22054009@unknown@formal@none@1@S@Mr. Allen began it with a warning to his hosts, a California church group that opposes rights for homosexuals.@@@@1@19@@oe@2-2-2013
22054010@unknown@formal@none@1@S@He said that other participants in the conference "do not believe that the rights of Americans should be guaranteed to citizens who are homosexual," but that "I mean to persuade you to the opposite view."@@@@1@35@@oe@2-2-2013
22054011@unknown@formal@none@1@S@He recalled to the audience a "strange, infelicitous" analogy he once heard arguing "now that we have finally recognized that American blacks have rights, we need to do the same for animals.@@@@1@32@@oe@2-2-2013
22054012@unknown@formal@none@1@S@" Mr. Allen objected to this analogy because it seems to "assimilate the status of blacks to that of animals -- as a mere project of charity, of humaneness."@@@@1@29@@oe@2-2-2013
22054013@unknown@formal@none@1@S@Rights on such a basis, whether for blacks or homosexuals, are "mere indulgences," he said, subject to being taken back.@@@@1@20@@oe@2-2-2013
22054014@unknown@formal@none@1@S@He says the title of his speech was to make his point that Americans have rights as individuals, not as members of certain select groups.@@@@1@25@@oe@2-2-2013
22054015@unknown@formal@none@1@S@His speech criticized the "idiocy of notions of protected groups in society" as opposed to individual equality or, as he put it, in "a common destiny as Americans."@@@@1@28@@oe@2-2-2013
22054016@unknown@formal@none@1@S@Instead of lobbying for special treatment, Mr. Allen said that homosexuals and others should try to ensure equal treatment under the law and not aim for special privileges that would risk "invidious retrenchment with government complicity."@@@@1@36@@oe@2-2-2013
22054017@unknown@formal@none@1@S@This hardly sounds like an anti-homosexual screed.@@@@1@7@@oe@2-2-2013
22054018@unknown@formal@none@1@S@What's really going on here?@@@@1@5@@oe@2-2-2013
22054019@unknown@formal@none@1@S@The three most important things to understand about Mr. Allen is that he is a black conservative intellectual -- a triple threat to the liberal establishment.@@@@1@26@@oe@2-2-2013
22054020@unknown@formal@none@1@S@Mr. Allen, who teaches government at prestigious Harvey Mudd College in California and will remain a member of the commission, has spent years arguing that civil rights are individuals' rights.@@@@1@30@@oe@2-2-2013
22054021@unknown@formal@none@1@S@He last made waves when he dared to defend an Indian girl who had been adopted by non-Indian parents off her reservation.@@@@1@22@@oe@2-2-2013
22054022@unknown@formal@none@1@S@Mr. Allen quickly ran up against the liberal establishment again, which somehow elevated the vague concept of "Indian rights" above the rights of individual Indians.@@@@1@25@@oe@2-2-2013
22054023@unknown@formal@none@1@S@There is a huge divide between Mr. Allen's we're-all-in-this-together view and the divisive litigation approach of the civil rights groups.@@@@1@20@@oe@2-2-2013
22054024@unknown@formal@none@1@S@Indeed, the gap is so large that Mr. Allen's critics refuse to engage the debate.@@@@1@15@@oe@2-2-2013
22054025@unknown@formal@none@1@S@Their ridicule of him is no substitute for argument.@@@@1@9@@oe@2-2-2013
22054026@unknown@formal@none@1@S@Their effort to run him out of Washington is an embarrassment to the original purpose of their own movement.@@@@1@19@@oe@2-2-2013
22054027@unknown@formal@none@1@S@We hope the next head of the Civil Rights Commission will be as brave as Mr. Allen in making the case for equality of civil rights.@@@@1@26@@oe@2-2-2013
22055001@unknown@formal@none@1@S@Bearings Inc. said its chairman, John R. Cunin, will retire as an officer of the company on Jan. 2.@@@@1@19@@oe@2-2-2013
22055002@unknown@formal@none@1@S@George L. LaMore, president and chief executive officer, will become chairman and chief executive upon Mr. Cunin's retirement.@@@@1@18@@oe@2-2-2013
22055003@unknown@formal@none@1@S@John C. Dannemiller, executive vice president and chief operating officer, will become president and chief operating officer.@@@@1@17@@oe@2-2-2013
22055004@unknown@formal@none@1@S@Mr. Cunin, 65 years old, was chief executive of the distributor of bearings and power-transmission products from 1982 to 1988.@@@@1@20@@oe@2-2-2013
22055005@unknown@formal@none@1@S@He will continue as a director.@@@@1@6@@oe@2-2-2013
22055006@unknown@formal@none@1@S@Mr. LaMore, 63, a 48-year veteran at Bearings, has been president since 1983.@@@@1@13@@oe@2-2-2013
22055007@unknown@formal@none@1@S@Mr. Dannemiller, 51, joined Bearings in August 1988 from Leaseway Transportation Corp., where he was president and chief operating officer.@@@@1@20@@oe@2-2-2013
22055008@unknown@formal@none@1@S@He has been a Bearings director since 1985.@@@@1@8@@oe@2-2-2013
22055009@unknown@formal@none@1@S@The appointments are part of a planned succession at the company.@@@@1@11@@oe@2-2-2013
22055010@unknown@formal@none@1@S@Soviet leader Mikhail Gorbachev opened a major U.S. trade exhibition in Moscow and spent two hours touring some of the 150 stalls representing such blue-chip companies as General Motors Corp., International Business Machines Corp. and Johnson & Johnson.@@@@1@38@@oe@2-2-2013
22055011@unknown@formal@none@1@S@At the Archer-Daniels-Midland Co. stand, Mrs. Nelson Rockefeller, a board member, offered him a soy burger.@@@@1@16@@oe@2-2-2013
22055012@unknown@formal@none@1@S@He didn't bite.@@@@1@3@@oe@2-2-2013
22055013@unknown@formal@none@1@S@The exhibition by the U.S.-U.S.S.R. Trade and Economic Council underscores the growing U.S. interest in that nation's market, though trade between the two countries is a minuscule $3 billion.@@@@1@29@@oe@2-2-2013
22055014@unknown@formal@none@1@S@The Soviet president and his prime minister, Nikolai Ryzhkov, spent the longest time, about 15 minutes, at the IBM stand, where they got souvenir computer-chip key rings.@@@@1@27@@oe@2-2-2013
22055015@unknown@formal@none@1@S@At the GM stall, they barely looked at a gleaming Cadillac, preferring to talk about cooperation possibilities.@@@@1@17@@oe@2-2-2013
22055016@unknown@formal@none@1@S@In Beijing, meantime, China opened an international aviation show, but the West's embargo on military deals and uncertainty about the nation's stability kept many foreign exhibitors away.@@@@1@27@@oe@2-2-2013
22055017@unknown@formal@none@1@S@Officials said 91 companies from 14 countries, including the U.S., had displays, down from about 260 firms from more than 20 countries at the last show in@@@@1@27@@oe@2-2-2013
22055018@unknown@formal@none@1@S@Japanese air-conditioner maker Daikin Industries Ltd. was fined two million yen ($14,000) for exporting to the Soviet Union a chemical solution that could be used in missile-guidance systems.@@@@1@28@@oe@2-2-2013
22055019@unknown@formal@none@1@S@A Daikin executive in charge of exports when the high-purity halogenated hydrocarbon was sold to the Soviets in 1986 received a suspended 10-month jail sentence.@@@@1@25@@oe@2-2-2013
22055020@unknown@formal@none@1@S@Judge Masaaki Yoneyama told the Osaka District Court Daikin's "responsibility is heavy because illegal exports lowered international trust in Japan."@@@@1@20@@oe@2-2-2013
22055021@unknown@formal@none@1@S@Sale of the solution in concentrated form to Communist countries is prohibited by Japanese law and by international agreement.@@@@1@19@@oe@2-2-2013
22055022@unknown@formal@none@1@S@A Soviet legislative panel rejected as not radical enough a government proposal on decentralizing economic control.@@@@1@16@@oe@2-2-2013
22055023@unknown@formal@none@1@S@The newspaper Leninskoye Zamya said the committee decided the plan to parcel out economic powers previously exercised by Moscow to the country's 15 republics "doesn't reflect the radical changes in the Soviet federation."@@@@1@33@@oe@2-2-2013
22055024@unknown@formal@none@1@S@The committee gave the government until Nov. 15 to revise the proposal.@@@@1@12@@oe@2-2-2013
22055025@unknown@formal@none@1@S@The move reflected the growing confidence of the revamped Supreme Soviet.@@@@1@11@@oe@2-2-2013
22055026@unknown@formal@none@1@S@Scott Paper Co. said it is abandoning a proposed $650 million tree-farming project in Indonesia because it no longer expects to use as much eucalyptus pulp as previously anticipated.@@@@1@29@@oe@2-2-2013
22055027@unknown@formal@none@1@S@The eucalyptus plantation and pulp mill, which would have covered about 175,000 acres in the Irian Jaya region, had been approved by Indonesia's investment board.@@@@1@25@@oe@2-2-2013
22055028@unknown@formal@none@1@S@But it was opposed by some environmentalists as a threat to Irian Jaya's forests and a potential source of social unrest for the primitive tribes who inhabit them.@@@@1@28@@oe@2-2-2013
22055029@unknown@formal@none@1@S@Yaohan Departmentstore Co. of Japan is moving its international-operations headquarters and holding company to Hong Kong to gain from the British colony's economic advantages and tax structure.@@@@1@27@@oe@2-2-2013
22055030@unknown@formal@none@1@S@With funds of 5.56 billion Hong Kong dollars (US$712 million), the new company, Yaohan International Co., plans to acquire 10 of Hong Kong's top restaurants.@@@@1@25@@oe@2-2-2013
22055031@unknown@formal@none@1@S@It also intends to set up an international wholesale market with the Singapore government next May and to open a department store in Bangkok and shopping centers in Malaysia, Taiwan, Canada, Chicago and Seattle by December 1990.@@@@1@37@@oe@2-2-2013
22055032@unknown@formal@none@1@S@The chain currently has 90 retail outlets in Japan, seven in the U.S., three in Hong Kong and a dozen more scattered around the globe.@@@@1@25@@oe@2-2-2013
22055033@unknown@formal@none@1@S@Major European auction houses are turning increasingly to specialized sales.@@@@1@10@@oe@2-2-2013
22055034@unknown@formal@none@1@S@Christie's will soon have a sale of Dada and Symbolist art while Sotheby's is luring collectors with sales of Swiss, German, Spanish, Australian and Canadian paintings.@@@@1@26@@oe@2-2-2013
22055035@unknown@formal@none@1@S@In Brussels, Hotel de Ventes Horta auctioned pistols and sabers-along with paintings and jewels.@@@@1@14@@oe@2-2-2013
22055036@unknown@formal@none@1@S@Berlin's Villa Grisebach will auction art works with pre-sale estimates of less than $1,600 on Nov. 25.@@@@1@17@@oe@2-2-2013
22055037@unknown@formal@none@1@S@The auction house, known for its sales of top-drawer 19th and 20th century works, is providing "a service to clients who don't want to sell just their fabulous oil paintings," says Villa Grisebach's Vivien Reuter.@@@@1@35@@oe@2-2-2013
22055038@unknown@formal@none@1@S@Antwerp auctioneer Campo is less concerned with market niches than with Belgium's crushing tax and auction-fee burden.@@@@1@17@@oe@2-2-2013
22055039@unknown@formal@none@1@S@"Everything has to be the same between countries," says Campo's Stefan Campo, who is asking clients to sign protest petitions.@@@@1@20@@oe@2-2-2013
22055040@unknown@formal@none@1@S@"Then there'll be fair competition."@@@@1@5@@oe@2-2-2013
22055041@unknown@formal@none@1@S@Ending tax-free shopping in the European Community after 1992 could threaten more than 3,000 jobs, the International Duty Free Confederation said.@@@@1@21@@oe@2-2-2013
22055042@unknown@formal@none@1@S@Instead of banning such shopping, the confederation proposed amending controls to be sure the privilege isn't abused. . . .@@@@1@20@@oe@2-2-2013
22055043@unknown@formal@none@1@S@British and Argentine diplomats opened talks in Madrid aimed at restoring ties severed because of their 1982 war over the Falkland Islands.@@@@1@22@@oe@2-2-2013
22055044@unknown@formal@none@1@S@Britain's U.N. representative and delegation head Crispin Tickell called the first meeting "good, interesting and businesslike.@@@@1@16@@oe@2-2-2013
22056001@unknown@formal@none@1@S@Polaroid Corp., benefiting from staff-reduction savings, reported a strong gain in third-quarter operating results and net income of $29.9 million, or 40 cents a share, after preferred-stock requirements.@@@@1@28@@oe@2-2-2013
22056002@unknown@formal@none@1@S@Analysts said the numbers were better than expectations, partly because of strong profit margins and a positive foreign-currency translation.@@@@1@19@@oe@2-2-2013
22056003@unknown@formal@none@1@S@However, they said the company's flat revenue was a disappointment, and an indication that sales of Polaroid's new conventional film in the U.S. have been sluggish.@@@@1@26@@oe@2-2-2013
22056004@unknown@formal@none@1@S@Revenue in the third quarter was $437.7 million, almost unchanged from $436.3 million a year earlier.@@@@1@16@@oe@2-2-2013
22056005@unknown@formal@none@1@S@Polaroid reported operating profit before taxes and interest costs of $63.1 million for the third quarter, more than double the year-before $24 million.@@@@1@23@@oe@2-2-2013
22056006@unknown@formal@none@1@S@Charges for staff cuts and other restructuring produced a net loss of $54.1 million, or 77 cents a share, in 1988's third quarter.@@@@1@23@@oe@2-2-2013
22056007@unknown@formal@none@1@S@"I'm somewhat skeptical about the underlying demand" for Polaroid products, said Michael Ellmann, an analyst with Wertheim Schroder & Co.@@@@1@20@@oe@2-2-2013
22056008@unknown@formal@none@1@S@"If you believe that a good performance next year is contingent on an acceleration of revenue, there isn't a lot here to base optimism on."@@@@1@25@@oe@2-2-2013
22056009@unknown@formal@none@1@S@Alex Henderson, an analyst with Prudential-Bache, says Polaroid officials told him yesterday that U.S. sales of the company's new conventional film product, introduced in the second quarter, have been "disappointing" after a promising start.@@@@1@34@@oe@2-2-2013
22056010@unknown@formal@none@1@S@Sam Yanes, a Polaroid spokesman, said "I don't know about disappointing," but added that the company hasn't been able to get the product on the shelves of some mass-merchandise, discount retailers that it had hoped would be carrying the product already.@@@@1@41@@oe@2-2-2013
22056011@unknown@formal@none@1@S@Mr. Yanes said the film, One Film, is currently carried at about 15,000 retail outlets, including drugstores and supermarkets.@@@@1@19@@oe@2-2-2013
22056012@unknown@formal@none@1@S@For the nine months, Polaroid reported earnings of $98.5 million, or $1.27 a share.@@@@1@14@@oe@2-2-2013
22056013@unknown@formal@none@1@S@Last year, the company had a nine-month loss of $15.1 million, or 23 cents a share.@@@@1@16@@oe@2-2-2013
22056014@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Polaroid closed at $47, up $1.125.@@@@1@13@@oe@2-2-2013
22057001@unknown@formal@none@1@S@Why is the stock market suddenly so volatile?@@@@1@8@@oe@2-2-2013
22057002@unknown@formal@none@1@S@Yesterday, the Dow Jones Industrial Average did a now familiar dance: It plunged 60.25 points before lunch, with most of the drop occurring in 25 minutes.@@@@1@26@@oe@2-2-2013
22057003@unknown@formal@none@1@S@Then, it rebounded to finish down only 18.65 points.@@@@1@9@@oe@2-2-2013
22057004@unknown@formal@none@1@S@And those swings paled beside Friday's 190.58-point plunge and Monday's 88.12-point recovery.@@@@1@12@@oe@2-2-2013
22057005@unknown@formal@none@1@S@"It's madness -- that in an hour you can whack off so much value," says Stanford Calderwood, chairman of Trinity Investment Management Corp., Boston.@@@@1@24@@oe@2-2-2013
22057006@unknown@formal@none@1@S@And, apparently, it is here to stay.@@@@1@7@@oe@2-2-2013
22057007@unknown@formal@none@1@S@Richard Bernstein, senior quantitative analyst at Merrill Lynch & Co, says, "My gut feel is that we'll live with those swings for a while."@@@@1@24@@oe@2-2-2013
22057008@unknown@formal@none@1@S@There are many reasons for the market's jumpiness: new trading vehicles such as stock-index futures and options; computer-driven strategies like program trading; and crowd psychology.@@@@1@25@@oe@2-2-2013
22057009@unknown@formal@none@1@S@But most are linked by a single theme: liquidity -- the ability to get in and out of the market quickly.@@@@1@21@@oe@2-2-2013
22057010@unknown@formal@none@1@S@Prices are moving up and down so fast because investors are employing ways to turn over shares at ever-faster rates and increasingly acting in concert.@@@@1@25@@oe@2-2-2013
22057011@unknown@formal@none@1@S@"Institutions are herding animals," says Peter Anderson, who heads the pension-fund management arm of IDS Financial Services Inc.@@@@1@18@@oe@2-2-2013
22057012@unknown@formal@none@1@S@"We watch the same indicators and listen to the same prognosticators.@@@@1@11@@oe@2-2-2013
22057013@unknown@formal@none@1@S@Like lemmings, we tend to move in the same direction at same time."@@@@1@13@@oe@2-2-2013
22057014@unknown@formal@none@1@S@And that, naturally, exacerbates price movements.@@@@1@6@@oe@2-2-2013
22057015@unknown@formal@none@1@S@Institutions -- who now account for most trading -- count on being able to buy and sell big blocks of stock at an eye-blink.@@@@1@24@@oe@2-2-2013
22057016@unknown@formal@none@1@S@But when they discover that markets aren't always as liquid as they supposed -- markets jump.@@@@1@16@@oe@2-2-2013
22057017@unknown@formal@none@1@S@On Monday, for instance, Howard Ward, a principal at Scudder, Stevens & Clark, found that "you couldn't buy blue-chips at quoted prices without paying up."@@@@1@25@@oe@2-2-2013
22057018@unknown@formal@none@1@S@And when many firms had to "pay up," Monday's sudden rally was sparked.@@@@1@13@@oe@2-2-2013
22057019@unknown@formal@none@1@S@Trading in futures and options, some people believe, can add to volatility.@@@@1@12@@oe@2-2-2013
22057020@unknown@formal@none@1@S@Investors believe they can can rely on such derivative securities to get in and out of the stock market without actually selling any stocks; that is, a way of staying liquid even when they own stocks.@@@@1@36@@oe@2-2-2013
22057021@unknown@formal@none@1@S@These and other modern trading methods "tend to promote dramatic shifts in assets," says George Douglas, first vice president at Drexel Burnham Lambert Inc.@@@@1@24@@oe@2-2-2013
22057022@unknown@formal@none@1@S@"It's the idea that what goes in easy can come out easy" -- so that bouts of higher volatility get built into the stock market.@@@@1@25@@oe@2-2-2013
22057023@unknown@formal@none@1@S@One new investment style called "asset allocation" shifts portfolio weightings between stocks, bonds and cash when computer models say one is more attractive.@@@@1@23@@oe@2-2-2013
22057024@unknown@formal@none@1@S@For instance, First Quadrant Corp., an asset allocator based in Morristown, N.J., said it quickly boosted stock positions in its "aggressive" accounts to 75% from 55% to take advantage of plunging prices Friday.@@@@1@33@@oe@2-2-2013
22057025@unknown@formal@none@1@S@It added another 5% Monday before stocks rallied.@@@@1@8@@oe@2-2-2013
22057026@unknown@formal@none@1@S@When they did, the firm reduced those stock holdings to about 70%.@@@@1@12@@oe@2-2-2013
22057027@unknown@formal@none@1@S@A classic example of institutions' hunger for liquidity is portfolio insurance, now widely discredited.@@@@1@14@@oe@2-2-2013
22057028@unknown@formal@none@1@S@Before the 1987 crash, an estimated $60 billion in institutional money was managed under this hedging technique.@@@@1@17@@oe@2-2-2013
22057029@unknown@formal@none@1@S@The idea was to "insure" the value of a portfolio by selling futures when stock prices dropped -- eliminating the need to sell the stocks themselves.@@@@1@26@@oe@2-2-2013
22057030@unknown@formal@none@1@S@But in October 1987, when portfolio insurers rushed to sell at the same time, they overwhelmed both the stock and futures markets.@@@@1@22@@oe@2-2-2013
22057031@unknown@formal@none@1@S@Yet even today, institutions are quietly practicing forms of portfolio insurance by nervously rushing to and fro in the markets.@@@@1@20@@oe@2-2-2013
22057032@unknown@formal@none@1@S@Others are doing "index arbitrage"a strategy of taking advantage of price discrepancies between stocks and futures.@@@@1@16@@oe@2-2-2013
22057033@unknown@formal@none@1@S@Unlike traditional buy-and-hold strategies, all of the above require that market makers be on hand to provide liquidity by buying and selling stocks in a crunch.@@@@1@26@@oe@2-2-2013
22057034@unknown@formal@none@1@S@But institutions say Wall Street brokerage firms are less willing to make markets.@@@@1@13@@oe@2-2-2013
22057035@unknown@formal@none@1@S@Brokers don't deny that.@@@@1@4@@oe@2-2-2013
22057036@unknown@formal@none@1@S@Wall Street traders say that, with institutional brokerage commissions far lower than in the 1970s, securities firms can't afford to take the risk of buying too much stock.@@@@1@28@@oe@2-2-2013
22057037@unknown@formal@none@1@S@"I think everyone's a little more leery," says Jack Baker, head of equity trading at Shearon Lehman Hutton Inc.@@@@1@19@@oe@2-2-2013
22057038@unknown@formal@none@1@S@"The institutions have driven (commission) rates down to the point where it makes no sense to commit capital," says Tom Gallagher, senior executive vice president in charge of institutional trading at Oppenheimer & Co.@@@@1@34@@oe@2-2-2013
22057039@unknown@formal@none@1@S@"Why should I risk money for a guy for who's paying me five cents a dance?@@@@1@16@@oe@2-2-2013
22057040@unknown@formal@none@1@S@All you get is risk."@@@@1@5@@oe@2-2-2013
22057041@unknown@formal@none@1@S@Lack of liquidity can also result from exchange "reforms."@@@@1@9@@oe@2-2-2013
22057042@unknown@formal@none@1@S@Many traders say that "circuit breakers" put in place to damp volatility after the 1987 crash actually added to volatility when the stock market plunged Friday.@@@@1@26@@oe@2-2-2013
22057043@unknown@formal@none@1@S@The circuit breakers caused a 30-minute shutdown in trading in Standard & Poor's 500-stock index futures contract as the markets were falling.@@@@1@22@@oe@2-2-2013
22057044@unknown@formal@none@1@S@"With the futures-trading halt, you could only sell stocks" to cut exposure to the market, says a money manager.@@@@1@19@@oe@2-2-2013
22057045@unknown@formal@none@1@S@"It was scary to people thinking that they couldn't get their trades off."@@@@1@13@@oe@2-2-2013
22057046@unknown@formal@none@1@S@"It was like they put you in a room with a gorilla and told you there were three doors to exit," said one Chicago-based futures trader.@@@@1@26@@oe@2-2-2013
22057047@unknown@formal@none@1@S@"Then they said, `By the way, two of the doors are locked.'"@@@@1@12@@oe@2-2-2013
22057048@unknown@formal@none@1@S@The takeover mania also adds to volatility.@@@@1@7@@oe@2-2-2013
22057049@unknown@formal@none@1@S@UAL Corp. is a good example.@@@@1@6@@oe@2-2-2013
22057050@unknown@formal@none@1@S@Valued as a buy-out target, the airline stock was trading at nearly $280 a share.@@@@1@15@@oe@2-2-2013
22057051@unknown@formal@none@1@S@When the deal ran into trouble, the stock tumbled; it closed at $198 yesterday.@@@@1@14@@oe@2-2-2013
22057052@unknown@formal@none@1@S@Presumably, UAL is now trading closer to its value based on earnings.@@@@1@12@@oe@2-2-2013
22057053@unknown@formal@none@1@S@By contrast, traditional buy-and-hold investors are unlikely to generate sudden price moves.@@@@1@12@@oe@2-2-2013
22057054@unknown@formal@none@1@S@Scott Black, a value-oriented money manager who heads Delphi Management Inc., points out that for those who invest on fundamentals, "the value of a stock from day to day doesn't change all that much."@@@@1@34@@oe@2-2-2013
22057055@unknown@formal@none@1@S@Some experts say markets aren't as volatile as widely assumed.@@@@1@10@@oe@2-2-2013
22057056@unknown@formal@none@1@S@Hans Stoll, finance professor at Vanderbilt University, says the current volatility in U.S. markets pales in comparison to the 1930s, decades before derivative instruments such as options and futures were introduced.@@@@1@31@@oe@2-2-2013
22057057@unknown@formal@none@1@S@"I just can't believe that the innovations in the financial market are causing any of this volatility," he says.@@@@1@19@@oe@2-2-2013
22057058@unknown@formal@none@1@S@And Robert D. Arnott, president of asset allocator First Quadrant, notes that before Friday's tailspin, daily volatility on the New York Stock Exchange in recent weeks had reached "historically low levels."@@@@1@31@@oe@2-2-2013
22057059@unknown@formal@none@1@S@Some people tend to ignore that a 50-point move is less in percentage terms than it was when the stock market was lower.@@@@1@23@@oe@2-2-2013
22057060@unknown@formal@none@1@S@John J. Phelan Jr., chairman of the Big Board, asserts that "1988 and 1989 have been two of the least volatile years in the last 30 or 40 years."@@@@1@29@@oe@2-2-2013
22057061@unknown@formal@none@1@S@But the low average volatility Mr. Phelan is talking about isn't any comfort in a period of rapid stock-market moves like the past week.@@@@1@24@@oe@2-2-2013
22057062@unknown@formal@none@1@S@In addition, Sanford Grossman, a Wharton School finance professor, says volatile jumps in stock prices will continue as long as liquidity falls short of the voracious demands of institutions "who can go out and say `I have a billion dollars of stocks to sell.'"@@@@1@44@@oe@2-2-2013
22057063@unknown@formal@none@1@S@Some people think the search for liquidity is fruitless.@@@@1@9@@oe@2-2-2013
22057064@unknown@formal@none@1@S@In 1936, John Maynard Keynes wrote that "of the maxims of orthodox finance none, surely, is more antisocial than the fetish of liquidity."@@@@1@23@@oe@2-2-2013
22057065@unknown@formal@none@1@S@It leads investors to focus on short-term price movements -- "a game of musical chairs," he called it -- rather than on long-term fundamental valuation.@@@@1@25@@oe@2-2-2013
22057066@unknown@formal@none@1@S@James A. White contributed to this article.@@@@1@7@@oe@2-2-2013
22058001@unknown@formal@none@1@S@The National Aeronautics and Space Administration said a computer virus has infected one of its networks and is spreading anti-nuclear messages related to its Galileo space probe, which is to be launched today.@@@@1@33@@oe@2-2-2013
22058002@unknown@formal@none@1@S@Charles Redmond, a NASA spokesman, said the agency discovered the virus on Monday on the collection of computer networks collectively called Internet and expected 100 university centers to be infected by today.@@@@1@32@@oe@2-2-2013
22058003@unknown@formal@none@1@S@Although the network isn't connected to the computer systems that operate either Galileo or the shuttle, part of the network will carry analyses of Galileo data once the craft gets spaceborn.@@@@1@31@@oe@2-2-2013
22058004@unknown@formal@none@1@S@Mr. Redmond said the intruder hadn't yet done any harm but the agency feared "garbage data could be substituted for real data."@@@@1@22@@oe@2-2-2013
22058005@unknown@formal@none@1@S@He estimated it could take a day for a computer security manager to expunge the virus from a computer system.@@@@1@20@@oe@2-2-2013
22058006@unknown@formal@none@1@S@The intruder, among the broadest yet to hit a research network, appeared to affect only Digital Equipment Corp. hardware that uses Digital's VAX/VMS operating system.@@@@1@25@@oe@2-2-2013
22058007@unknown@formal@none@1@S@It is unrelated to the much-publicized virus that last year infected Arpanet, a much larger network used by researchers at universities, laboratories and government agencies around the world.@@@@1@28@@oe@2-2-2013
22058008@unknown@formal@none@1@S@In the lingo of computer security, the NASA intruder is technically a computer worm, Mr. Redmond said.@@@@1@17@@oe@2-2-2013
22058009@unknown@formal@none@1@S@A worm resides in the operating system of a computer and spreads by boring into other computers contacted through networks.@@@@1@20@@oe@2-2-2013
22058010@unknown@formal@none@1@S@The Galileo worm apparently was hatched on a computer in France hooked up to NASA's Space Physics Analysis Network, Mr. Redmond said.@@@@1@22@@oe@2-2-2013
22058011@unknown@formal@none@1@S@NASA said the Galileo worm hadn't affected its computers or the computers of other government agencies because they had modified their systems to reject worms.@@@@1@25@@oe@2-2-2013
22058012@unknown@formal@none@1@S@But Mr. Redmond said the worm hit universities that hadn't elected to make the changes.@@@@1@15@@oe@2-2-2013
22058013@unknown@formal@none@1@S@Michael Alexander, a senior editor at Computerworld, a trade publication, said he was told that the worm gets into a computer center by looking for obvious passwords -- such as ones that are the same as the user's name.@@@@1@39@@oe@2-2-2013
22058014@unknown@formal@none@1@S@If it finds one and gets into the system, it will display a screen when a user logs on that says, "Worms Against Nuclear Killers. . . .@@@@1@28@@oe@2-2-2013
22058015@unknown@formal@none@1@S@You talk of times of peace for all, and then prepare for war."@@@@1@13@@oe@2-2-2013
22058016@unknown@formal@none@1@S@In addition, Mr. Alexander said, the worm sends strange messages to other machines at the center -- such as, "George Orwell was an optimist," or "Don't feed the bats tonight."@@@@1@30@@oe@2-2-2013
22058017@unknown@formal@none@1@S@The worm also looks for elementary passwords that confer more privileges on the user.@@@@1@14@@oe@2-2-2013
22058018@unknown@formal@none@1@S@The passwords are included in the system software when it is installed but are supposed to be replaced as soon as the system is up and running.@@@@1@27@@oe@2-2-2013
22058019@unknown@formal@none@1@S@If it finds one of those passwords, Mr. Alexander said, the worm will do such things as change users' passwords to a series of random numbers, preventing them from signing on to the network.@@@@1@34@@oe@2-2-2013
22058020@unknown@formal@none@1@S@NASA estimated that, on Monday, about four computer centers were affected.@@@@1@11@@oe@2-2-2013
22058021@unknown@formal@none@1@S@Yesterday, the number grew to 40; today the number is expected to grow to 100.@@@@1@15@@oe@2-2-2013
22058022@unknown@formal@none@1@S@NASA said it will take about a week before it knows exactly how many centers of the 6,000 connected to Internet were affected and the extent of the damage, if any.@@@@1@31@@oe@2-2-2013
22058023@unknown@formal@none@1@S@Anti-nuclear activists have protested the launch of the Galileo space probe to Jupiter because it uses plutonium to generate the electricity needed to run the craft.@@@@1@26@@oe@2-2-2013
22058024@unknown@formal@none@1@S@Activists fear that if the shuttle carrying Galileo into orbit should explode, or if Galileo itself crashes into the Earth during the two times it flies close to the planet, fatal levels of plutonium would be released into the atmosphere.@@@@1@40@@oe@2-2-2013
22058025@unknown@formal@none@1@S@So far Galileo has been delayed twice, once because of a computer malfunction connected with a space-shuttle engine, and yesterday because of the weather.@@@@1@24@@oe@2-2-2013
22058026@unknown@formal@none@1@S@NASA said the Galileo worm had nothing to do with either delay.@@@@1@12@@oe@2-2-2013
22058027@unknown@formal@none@1@S@Mr. Alexander of Computerworld said hackers have gone after SPAN before.@@@@1@11@@oe@2-2-2013
22058028@unknown@formal@none@1@S@He said the Chaos Computer Club, of West Germany, once managed to invade SPAN and do such things as change the value of pi, messing up some calculations.@@@@1@28@@oe@2-2-2013
22059001@unknown@formal@none@1@S@It is now a commonplace that prosecutors are bringing criminal indictments in cases where until a few years ago only a civil action at most would have been brought.@@@@1@29@@oe@2-2-2013
22059002@unknown@formal@none@1@S@Yet it is also axiomatic that the power to create new crimes belongs only to the legislature, and not to courts.@@@@1@21@@oe@2-2-2013
22059003@unknown@formal@none@1@S@Beginning in the early 19th century, with U.S. v. Hudson and Goodwin, the Supreme Court has repeatedly held that a judicial power to declare conduct to be against the public interest and hence criminal, while well established in British law, would usurp legislative authority under the doctrine of separation of powers.@@@@1@51@@oe@2-2-2013
22059004@unknown@formal@none@1@S@That's the conventional theory anyway.@@@@1@5@@oe@2-2-2013
22059005@unknown@formal@none@1@S@In practice, however, the line between interpretation and redefinition of the criminal law long ago began to blur.@@@@1@18@@oe@2-2-2013
22059006@unknown@formal@none@1@S@In particular, a common law of white-collar crime has developed with surprising rapidity over the past decade.@@@@1@17@@oe@2-2-2013
22059007@unknown@formal@none@1@S@For example, although insider trading has long been criminal, it has never been statutorily defined.@@@@1@15@@oe@2-2-2013
22059008@unknown@formal@none@1@S@In 1983, the Supreme Court tried to supply a workable definition in the Dirks v. SEC decision, which found that liability depended on whether the tipper had breached his fiduciary duty to the corporation in order to obtain "some personal gain" and whether the tippee knew or recklessly disregarded this fact.@@@@1@51@@oe@2-2-2013
22059009@unknown@formal@none@1@S@Gradually, however, lower courts and prosecutors have pushed this definition to its breaking point.@@@@1@14@@oe@2-2-2013
22059010@unknown@formal@none@1@S@Consider the facts underlying the 1989 conviction of Robert Chestman.@@@@1@10@@oe@2-2-2013
22059011@unknown@formal@none@1@S@Prior to a tender offer by A&P for Waldbaum Inc. in 1986, the founder of the Waldbaum's supermarket chain called an elderly relative to tell her to assemble her stock certificates for delivery.@@@@1@33@@oe@2-2-2013
22059012@unknown@formal@none@1@S@She called her daughter to take her to the bank, who, in turn, persuaded her husband, a Mr. Loeb, to run this errand.@@@@1@23@@oe@2-2-2013
22059013@unknown@formal@none@1@S@Hearing of this information, the husband discussed it with his broker, Mr. Chestman, and Mr. Chestman then bought for his own account and other clients.@@@@1@25@@oe@2-2-2013
22059014@unknown@formal@none@1@S@Basically, Mr. Chestman was a fourth-level tippee.@@@@1@7@@oe@2-2-2013
22059015@unknown@formal@none@1@S@Did Mr. Loeb, his tipper, breach a fiduciary duty (and, if so, to whom)?@@@@1@14@@oe@2-2-2013
22059016@unknown@formal@none@1@S@Did Mr. Loeb seek personal gain (and if so, how)?@@@@1@10@@oe@2-2-2013
22059017@unknown@formal@none@1@S@Or did Mr. Chestman only hear a market rumor (which one may lawfully trade upon)?@@@@1@15@@oe@2-2-2013
22059018@unknown@formal@none@1@S@The line seems awfully thin for criminal-law purposes.@@@@1@8@@oe@2-2-2013
22059019@unknown@formal@none@1@S@A second illustration is supplied by the recent guilty plea entered by Robert Freeman, formerly head of arbitrage at Goldman, Sachs & Co.@@@@1@23@@oe@2-2-2013
22059020@unknown@formal@none@1@S@Essentially, Mr. Freeman had invested heavily in the Beatrice leveraged buy-out, when he was told by another prominent trader, Bernard "Bunny" Lasker, that the deal was in trouble.@@@@1@28@@oe@2-2-2013
22059021@unknown@formal@none@1@S@After placing orders to sell, Mr. Freeman called Martin Siegel, an investment banker at Kidder, Peabody & Co., who was advising on the deal, to confirm these rumors.@@@@1@28@@oe@2-2-2013
22059022@unknown@formal@none@1@S@Mr. Siegel asked Mr. Freeman who his source was and, on hearing that it was Bunny Lasker, responded: "Well, your bunny has a good nose."@@@@1@25@@oe@2-2-2013
22059023@unknown@formal@none@1@S@The illegal "tip" of the bunny's good nose was then largely a confirmation of rumors already known to many in the market.@@@@1@22@@oe@2-2-2013
22059024@unknown@formal@none@1@S@Had the case gone to trial the same issues would have surfaced:@@@@1@12@@oe@2-2-2013
22059025@unknown@formal@none@1@S@Was there a fiduciary breach in order to obtain personal gain?@@@@1@11@@oe@2-2-2013
22059026@unknown@formal@none@1@S@Did Mr. Freeman have notice of this?@@@@1@7@@oe@2-2-2013
22059027@unknown@formal@none@1@S@Finally, was the information material?@@@@1@5@@oe@2-2-2013
22059028@unknown@formal@none@1@S@Yet, all these issues are subsidiary to a more central issue: Who is and who should be making the criminal law here?@@@@1@22@@oe@2-2-2013
22059029@unknown@formal@none@1@S@It is not my contention that either Mr. Chestman or Mr. Freeman was an innocent victim of prosecutorial overzealousness.@@@@1@19@@oe@2-2-2013
22059030@unknown@formal@none@1@S@Arguably, both were on notice that their behavior was at least risky.@@@@1@12@@oe@2-2-2013
22059031@unknown@formal@none@1@S@But even if they behaved recklessly, reasons still exist to fear and resist this steady process of case-by-case judicial extension of the law of insider trading.@@@@1@26@@oe@2-2-2013
22059032@unknown@formal@none@1@S@Courts and legislatures make decisions in very different ways and are each susceptible to very different kinds of errors.@@@@1@19@@oe@2-2-2013
22059033@unknown@formal@none@1@S@After-the-fact judicial examination of an actor's conduct has always been the common law's method.@@@@1@14@@oe@2-2-2013
22059034@unknown@formal@none@1@S@When only civil liability is involved, this method has the undeniable strengths of factual specificity and avoidance of overgeneralization.@@@@1@19@@oe@2-2-2013
22059035@unknown@formal@none@1@S@Still, case-by-case retrospective decision making of this sort is vulnerable to the tunnel vision caused by a fixation on ad hoc (and usually sleazy) examples.@@@@1@25@@oe@2-2-2013
22059036@unknown@formal@none@1@S@When a court decides that a particular actor's conduct was culpable and so extends the definition of insider trading to reach this conduct, it does not see the potentially enormous number of other cases that will be covered by the expanded rule.@@@@1@42@@oe@2-2-2013
22059037@unknown@formal@none@1@S@Thus, a court is poorly positioned to make judgments about the social utility of the expanded rule.@@@@1@17@@oe@2-2-2013
22059038@unknown@formal@none@1@S@For example, in focusing on Mr. Freeman's attempt to gain nonpublic information about a deal's collapse, one does not naturally think about the reverse side of the coin: What if the rumor had been false?@@@@1@35@@oe@2-2-2013
22059039@unknown@formal@none@1@S@Can a security analyst call an investment banker to make certain that a seemingly improbable rumor is in fact false?@@@@1@20@@oe@2-2-2013
22059040@unknown@formal@none@1@S@In the past, not only would reputable professionals have rushed to check out such rumors with the company, but companies listed on the major stock exchanges were encouraged by the exchanges to respond openly to such inquiries from securities analysts.@@@@1@40@@oe@2-2-2013
22059041@unknown@formal@none@1@S@Today, after Mr. Freeman's plea, there is an uncertainty that is both unfair and inefficient.@@@@1@15@@oe@2-2-2013
22059042@unknown@formal@none@1@S@In this light, the comparative advantages of legislative law-making become clear: (1) Before it acts, the legislature typically will hear the views of representatives of all those affected by its decision, not just the immediate parties before the court; and (2) the legislature can frame "bright line" standards that create less uncertainty than the fact-bound decisions of courts.@@@@1@58@@oe@2-2-2013
22059043@unknown@formal@none@1@S@Although legislative lines can result in under-inclusion (which explains why the SEC has long resisted a legislative definition of insider trading), judicial lawmaking inevitably creates uncertainty because of the shadowy outer edges and implications of most judicial decisions.@@@@1@38@@oe@2-2-2013
22059044@unknown@formal@none@1@S@At least when the stakes are high, uncertainty in turn results in overinclusion, as individuals do not dare to approach an uncertain line closely.@@@@1@24@@oe@2-2-2013
22059045@unknown@formal@none@1@S@The federal mail and wire fraud statutes provide even better illustrations of the rapid evolution of a federal common law of white-collar crime.@@@@1@23@@oe@2-2-2013
22059046@unknown@formal@none@1@S@In 1987, the Supreme Court attempted in McNally v. U.S. to halt the inexorable expansion of these statutes by adopting a rule of strict construction for ambiguous criminal statues.@@@@1@29@@oe@2-2-2013
22059047@unknown@formal@none@1@S@Yet, late last year, Congress effectively reversed this decision by enacting a one-sentence statute that defined fraud to include any scheme to deprive another of "the intangible right of honest services."@@@@1@31@@oe@2-2-2013
22059048@unknown@formal@none@1@S@At a stroke, this may criminalize all fiduciary breaches (and possibly all misrepresentations by an agent or employee).@@@@1@18@@oe@2-2-2013
22059049@unknown@formal@none@1@S@Such a statute illustrates the fundamental problem: Congress finds it is easier to pass sweepingly moralistic prohibitions, which the courts must thereafter interpret, than to engage in the difficult line-drawing distinctions that are inherently its responsibility.@@@@1@36@@oe@2-2-2013
22059050@unknown@formal@none@1@S@We are confronted less with a judicial power grab than with a legislative giveaway.@@@@1@14@@oe@2-2-2013
22059051@unknown@formal@none@1@S@Predictably, when confronted with morally dubious behavior, prosecutors will exploit the latitude such openended statutes give them.@@@@1@17@@oe@2-2-2013
22059052@unknown@formal@none@1@S@Over the long run, however, sleazy cases will make bad law.@@@@1@11@@oe@2-2-2013
22059053@unknown@formal@none@1@S@Mr. Coffee is a professor at Columbia Law School.@@@@1@9@@oe@2-2-2013
22060001@unknown@formal@none@1@S@Corning Inc. posted a 38% decline in third-quarter net income to $76.5 million, or 80 cents a share, from $123.9 million, or $1.37 a share, a year earlier.@@@@1@28@@oe@2-2-2013
22060002@unknown@formal@none@1@S@The year-earlier figure included a one-time gain of $59.9 million from the sale of Corning's stakes in Japanese businesses.@@@@1@19@@oe@2-2-2013
22060003@unknown@formal@none@1@S@Without the gain, operating profit was $64 million, or 71 cents a share.@@@@1@13@@oe@2-2-2013
22060004@unknown@formal@none@1@S@The telecommunications, specialty glass, ceramic products and laboratory-services concern said the latest quarter included a tax-loss carry-forward of $600,000.@@@@1@19@@oe@2-2-2013
22060005@unknown@formal@none@1@S@A year earlier, net included a $700,000 taxlow carry-forward.@@@@1@9@@oe@2-2-2013
22060006@unknown@formal@none@1@S@Sales rose 14% to $715 million from $625.4 million.@@@@1@9@@oe@2-2-2013
22060007@unknown@formal@none@1@S@Corning's chairman and chief executive officer, James R. Houghton, said operating performance continued to be strong in the telecommunications and health and science segments.@@@@1@24@@oe@2-2-2013
22060008@unknown@formal@none@1@S@But the specialty-material segment slowed somewhat and consumer products continued below expectations.@@@@1@12@@oe@2-2-2013
22060009@unknown@formal@none@1@S@As for joint ventures, Mr. Houghton said profit was "essentially flat" due primarily to a slow recovery at Samsung-Corning Co. in Korea following a strike at a major customer and the disruption of shipments to China.@@@@1@36@@oe@2-2-2013
22060010@unknown@formal@none@1@S@Also, profit was hurt by the strength of the dollar overseas which negatively affected the company's currency-exchange rate.@@@@1@18@@oe@2-2-2013
22060011@unknown@formal@none@1@S@In New York Stock Exchange composite trading, Corning closed at $38.50, down 75 cents.@@@@1@14@@oe@2-2-2013
22061001@unknown@formal@none@1@S@UAL, the hair-trigger stock that exploded Friday's market bombshell, briefly traumatized traders again yesterday.@@@@1@14@@oe@2-2-2013
22061002@unknown@formal@none@1@S@Within 10 minutes after an 11:13 a.m. trading halt in UAL, parent of United Airlines, the Dow Jones Industrial Average plunged nearly 27 points to a 60.25-point deficit.@@@@1@28@@oe@2-2-2013
22061003@unknown@formal@none@1@S@Computer-guided buying then kicked in, and the industrials regained 27 points in five minutes.@@@@1@14@@oe@2-2-2013
22061004@unknown@formal@none@1@S@The lightning moves show that the stock market remains fragile and volatile -- ready to jump at the slightest rumor -- a few days after its shocking 190.58-point plunge.@@@@1@29@@oe@2-2-2013
22061005@unknown@formal@none@1@S@Nervous investors continued to limit their buying to blue-chip stocks while dumping takeover-related issues.@@@@1@14@@oe@2-2-2013
22061006@unknown@formal@none@1@S@The industrial average closed down 18.65, to 2638.73.@@@@1@8@@oe@2-2-2013
22061007@unknown@formal@none@1@S@New York Stock Exchange volume was a heavy 224,070,000 shares.@@@@1@10@@oe@2-2-2013
22061008@unknown@formal@none@1@S@Decliners on the Big Board outnumbered advancers, 931 to 658.@@@@1@10@@oe@2-2-2013
22061009@unknown@formal@none@1@S@UAL was watched closely and traded heavily.@@@@1@7@@oe@2-2-2013
22061010@unknown@formal@none@1@S@The stock tumbled 24 7/8 to 198 on volume of 2.8 million shares.@@@@1@13@@oe@2-2-2013
22061011@unknown@formal@none@1@S@The market is still very touchy about rumors and news on pending takeovers.@@@@1@13@@oe@2-2-2013
22061012@unknown@formal@none@1@S@UAL, which is trying to reconstruct a buy-out bid that banks wouldn't finance, represents the future of one of the most powerful ingredients in the bull market-corporate restructuring.@@@@1@28@@oe@2-2-2013
22061013@unknown@formal@none@1@S@An important element of this phenomenon -- the now-shaky market for junk bonds, used often to finance restructurings and takeovers -- continued to cast a pall over stocks.@@@@1@28@@oe@2-2-2013
22061014@unknown@formal@none@1@S@"It was a very nervous day," said John Geary, partner of the Big Board specialist firm Ziebarth, Geary.@@@@1@18@@oe@2-2-2013
22061015@unknown@formal@none@1@S@The volatility won't end soon.@@@@1@5@@oe@2-2-2013
22061016@unknown@formal@none@1@S@This Friday brings the "double witching hour," Wall Street's nickname for the monthly simultaneous expiration of a variety of stock index futures, index options and options on individual stocks.@@@@1@29@@oe@2-2-2013
22061017@unknown@formal@none@1@S@Traders are already buckling their seat belts.@@@@1@7@@oe@2-2-2013
22061018@unknown@formal@none@1@S@Previous monthly expirations of the Major Market Index futures and Standard & Poor's 100-stock index options have produced spectacular volatility.@@@@1@20@@oe@2-2-2013
22061019@unknown@formal@none@1@S@"We are in one of those phases where you are going to get a lot of volatile expiration action," said Donald Selkin, head of stock-index research at Prudential-Bache Securities.@@@@1@29@@oe@2-2-2013
22061020@unknown@formal@none@1@S@Investors were buying yesterday, but they were running scared to premier blue chips such as Procter & Gamble, which jumped 3 3/8 to 127.@@@@1@24@@oe@2-2-2013
22061021@unknown@formal@none@1@S@Investors "are buying stocks that have predictable earnings," said Edward J. Laux, head of block trading at Kidder Peabody.@@@@1@19@@oe@2-2-2013
22061022@unknown@formal@none@1@S@Along the way, investors dumped takeover stocks and shares of banks that have leveraged-buy-out debt and risky real estate loans on their books.@@@@1@23@@oe@2-2-2013
22061023@unknown@formal@none@1@S@"These loans are more of a focus than lesser-developed-country debt now," said William Bee, senior block trader at Prudential-Bache Securities.@@@@1@20@@oe@2-2-2013
22061024@unknown@formal@none@1@S@Chase Manhattan, which sold 14 million additional shares at 40 1/8 Monday through an underwriting group led by Goldman Sachs, closed down 1/8 to 40.@@@@1@25@@oe@2-2-2013
22061025@unknown@formal@none@1@S@Citicorp fell 1/2 to 32, and Manufacturers Hanover slipped 3/8 to 40 1/4.@@@@1@13@@oe@2-2-2013
22061026@unknown@formal@none@1@S@Chase and Citicorp's Citibank are involved in the UAL buy-out financing.@@@@1@11@@oe@2-2-2013
22061027@unknown@formal@none@1@S@Both Citicorp and Manufacturers Hanover reported earnings yesterday.@@@@1@8@@oe@2-2-2013
22061028@unknown@formal@none@1@S@In the first hour of trading, about one million shares a minute changed hands on the Big Board as big stock-index arbitrage sell programs pushed prices lower.@@@@1@27@@oe@2-2-2013
22061029@unknown@formal@none@1@S@(In stock-index arbitrage, traders buy or sell big baskets of stocks against offsetting positions in futures.)@@@@1@16@@oe@2-2-2013
22061030@unknown@formal@none@1@S@Traders said many of the sell programs are positions being established ahead of this Friday's expiration.@@@@1@16@@oe@2-2-2013
22061031@unknown@formal@none@1@S@Aside from computer-guided selling, airline stocks took a beating as well.@@@@1@11@@oe@2-2-2013
22061032@unknown@formal@none@1@S@The Dow Jones Transportation Average fell 49.96 to close at 1254.27.@@@@1@11@@oe@2-2-2013
22061033@unknown@formal@none@1@S@AMR, the parent of American Airlines, continued to retreat in the wake of New York developer Donald Trump's decision to withdraw his $120-a-share takeover bid.@@@@1@25@@oe@2-2-2013
22061034@unknown@formal@none@1@S@The stock fell 3 1/4 to 73 1/4 on 3.4 million shares.@@@@1@12@@oe@2-2-2013
22061035@unknown@formal@none@1@S@Delta Air Lines fell 1 7/8 to 67 7/8, USAir Group dropped 3/4 to 40 1/4, Southwest Airlines dipped 1/2 to 25 and Alaska Air Group slid 3/8 to 24 1/4.@@@@1@31@@oe@2-2-2013
22061036@unknown@formal@none@1@S@But Texas Air, the owner of Continental and Eastern airlines, bucked the group's decline by rising 7/8 to 14 5/8 in American Stock Exchange trading.@@@@1@25@@oe@2-2-2013
22061037@unknown@formal@none@1@S@Eastern said it is ahead of schedule in resuming its operations after filing earlier this year for Chapter 11 bankruptcy protection, from which it expects to emerge early next year.@@@@1@30@@oe@2-2-2013
22061038@unknown@formal@none@1@S@Philip Morris, the most active Big Board issue for the second consecutive session, was unchanged at 43 1/4 on 3.9 million shares.@@@@1@22@@oe@2-2-2013
22061039@unknown@formal@none@1@S@Other blue-chip consumer issues also fared relatively well: PepsiCo rose 1 3/8 to 58 1/2; Coca-Cola Co. was unchanged at 66 3/4; McDonald's also closed unchanged at 30 1/2, and Merck rose 1/2 to 75 1/4.@@@@1@36@@oe@2-2-2013
22061040@unknown@formal@none@1@S@Broader averages also fell.@@@@1@4@@oe@2-2-2013
22061041@unknown@formal@none@1@S@Standard & Poor's 500-stock index fell 1.69 to 341.16, and the New York Stock Exchange Composite Index fell 0.88 to 188.89.@@@@1@21@@oe@2-2-2013
22061042@unknown@formal@none@1@S@Among the takeover-related stocks that sold off yesterday were Disney, which closed down 2 1/8 to 121 1/4.@@@@1@18@@oe@2-2-2013
22061043@unknown@formal@none@1@S@Philips Industries tumbled 3/8 to 22 7/8; Hilton Hotels fell 2 1/2 to 92 and Holiday Corp. fell 2 1/8 to 69 7/8.@@@@1@23@@oe@2-2-2013
22061044@unknown@formal@none@1@S@Among other blue chips, Exxon gained 1/8 to 45 1/2.@@@@1@10@@oe@2-2-2013
22061045@unknown@formal@none@1@S@International Paper fell 1 3/8 to 51 1/2, Union Carbide eased 7/8 to 25, Chevron gained 1/8 to 64, and Eastman Kodak closed down 3/4 to 44 1/4.@@@@1@28@@oe@2-2-2013
22061046@unknown@formal@none@1@S@The only industry group to show a gain from the industrial average's record high on Oct. 9 is restaurants.@@@@1@19@@oe@2-2-2013
22061047@unknown@formal@none@1@S@Among the three worst-performing groups, with declines of 10% to 20%, are airlines, casinos and securities brokers.@@@@1@17@@oe@2-2-2013
22061048@unknown@formal@none@1@S@Trading also was heavy in the over-the-counter market.@@@@1@8@@oe@2-2-2013
22061049@unknown@formal@none@1@S@The Nasdaq composite index closed down 1.05 to 459.93 on volume of 161.5 million shares.@@@@1@15@@oe@2-2-2013
22061050@unknown@formal@none@1@S@"The environment is a lot more trading-oriented," said Gary Rosenbach, manager of equity trading at the OTC stock firm Needham & Co. in New York.@@@@1@25@@oe@2-2-2013
22061051@unknown@formal@none@1@S@"Because there is a lot more volatility now, if guys see that they can make a quick 10% or 15% profit, they'll take it."@@@@1@24@@oe@2-2-2013
22061052@unknown@formal@none@1@S@Compaq Computer gained 2 1/8 to 103 3/4 on two million shares, reflecting market optimism about the prospects for its newly introduced notebook-sized computer.@@@@1@24@@oe@2-2-2013
22061053@unknown@formal@none@1@S@B.F. Goodrich dropped 1 3/8 to 49 1/8.@@@@1@8@@oe@2-2-2013
22061054@unknown@formal@none@1@S@The company's third-quarter earnings were below both analysts' forecasts and the year-earlier level.@@@@1@13@@oe@2-2-2013
22061055@unknown@formal@none@1@S@Blue Arrow added 1/2 to 17 1/4.@@@@1@7@@oe@2-2-2013
22061056@unknown@formal@none@1@S@The British company plans to change its name to Manpower, the name of its U.S. unit, and write off part of nearly $1.2 billion in good will as a possible prelude to reincorporating in the U.S.@@@@1@36@@oe@2-2-2013
22061057@unknown@formal@none@1@S@Dravo rose 5/8 to 16 1/8.@@@@1@6@@oe@2-2-2013
22061058@unknown@formal@none@1@S@Shearson Lehman Hutton began its coverage of the company with favorable ratings.@@@@1@12@@oe@2-2-2013
22061059@unknown@formal@none@1@S@Intertan jumped 2 1/4 to 56 7/8.@@@@1@7@@oe@2-2-2013
22061060@unknown@formal@none@1@S@The company reported that earnings from operations for the September quarter were up about 25% from a year earlier.@@@@1@19@@oe@2-2-2013
22061061@unknown@formal@none@1@S@Bay Financial, which said it may be forced to file under Chapter 11 if it can't reach an agreement with its lenders to relieve its debt burden, plunged 1 3/8 to 2 1/8.@@@@1@33@@oe@2-2-2013
22061062@unknown@formal@none@1@S@The Amex Market Value Index fell 1.25 to 375.16.@@@@1@9@@oe@2-2-2013
22061063@unknown@formal@none@1@S@Volume totaled 16,800,000 shares.@@@@1@4@@oe@2-2-2013
22061064@unknown@formal@none@1@S@Among active Amex issues, the American depositary receipts of B.A.T Industries fell 1/4 to 11 3/4 on turnover of 885,800.@@@@1@20@@oe@2-2-2013
22061065@unknown@formal@none@1@S@Investment bankers and retailers said the turmoil on Wall Street may benefit managers who plan to bid for U.S. retailing units of the British firm because takeover prices may not be as high as before the recent correction.@@@@1@38@@oe@2-2-2013
22061066@unknown@formal@none@1@S@Fruit of the Loom slipped 1/8 to 12 3/8 on 501,200 shares.@@@@1@12@@oe@2-2-2013
22061067@unknown@formal@none@1@S@DWG Corp. jumped 1 1/4 to 15 on 454,100 shares.@@@@1@10@@oe@2-2-2013
22061068@unknown@formal@none@1@S@Carnival Cruise Lines Class A dropped 1 to 21 1/8 on 331,400 shares.@@@@1@13@@oe@2-2-2013
22061069@unknown@formal@none@1@S@Amex issues with big percentage price gains included two Eastern Air Lines preferred stocks, reacting to the news about improved recovery in flight schedules after the company filed for bankruptcy protection.@@@@1@31@@oe@2-2-2013
22061070@unknown@formal@none@1@S@Eastern's Class F preferred rose 12%, or 1 1/4, to 11 3/4; the Class E preferred gained 7%, or 5/8, to 10 1/4.@@@@1@23@@oe@2-2-2013
22061071@unknown@formal@none@1@S@The biggest percentage gainer on the Amex was Enviropact, which jumped 23%, or 5/8, to 3 3/8 on volume of 29,000 shares.@@@@1@22@@oe@2-2-2013
22061072@unknown@formal@none@1@S@On Monday, the company, a provider of environmental consulting services, reported a wider fiscal fourth-quarter loss and predicted a loss for its fiscal 1990 first quarter, but said a profit is expected for all of fiscal 1990.@@@@1@37@@oe@2-2-2013
22061073@unknown@formal@none@1@S@But its auditor, Ernst & Young, said Enviropact's financial situation raises "substantial doubt about its ability to continue as a going concern."@@@@1@22@@oe@2-2-2013
22061074@unknown@formal@none@1@S@Mission Resource Partners advanced 8%, or 1 3/8, to 18 7/8.@@@@1@11@@oe@2-2-2013
22061075@unknown@formal@none@1@S@Sonja Steptoe and David Wilson contributed to this article.@@@@1@9@@oe@2-2-2013
22062001@unknown@formal@none@1@S@ONE LIBERTY PROPERTIES Inc. declared a dividend of 40 cents a share on its $16.50 cumulative convertible preferred stock, payable Jan. 2 to stock of record Dec. 8.@@@@1@28@@oe@2-2-2013
22062002@unknown@formal@none@1@S@But directors of the Great Neck, N.Y., real estate investment trust didn't act on the common stock dividend.@@@@1@18@@oe@2-2-2013
22062003@unknown@formal@none@1@S@And they won't consider such a dividend, the trust added, before results are available for the first quarter of 1990.@@@@1@20@@oe@2-2-2013
22062004@unknown@formal@none@1@S@In part, the trust cited the need to retain cash for possible acquisitions.@@@@1@13@@oe@2-2-2013
22062005@unknown@formal@none@1@S@According to a spokesman, One Liberty will have paid out as dividends the required amount of its taxable income to maintain its legal status as a real estate investment trust.@@@@1@30@@oe@2-2-2013
22063001@unknown@formal@none@1@S@Banks are continuing to go after individual investors, despite falling interest rates.@@@@1@12@@oe@2-2-2013
22063002@unknown@formal@none@1@S@Yields on small-denomination certificates of deposit fell at about half the rate of so-called jumbo CDs this week, according to Banxquote Money Markets, an information service based here.@@@@1@28@@oe@2-2-2013
22063003@unknown@formal@none@1@S@Investors can get slightly higher yields on deposits below $50,000 than they can on deposits of $90,000 and up.@@@@1@19@@oe@2-2-2013
22063004@unknown@formal@none@1@S@"Banks want to remain competitive," said Norberto Mehl, chairman of Banxquote.@@@@1@11@@oe@2-2-2013
22063005@unknown@formal@none@1@S@"October is a big rollover month and perhaps they anticipate greater demand . . . among people leaving the stock market."@@@@1@21@@oe@2-2-2013
22063006@unknown@formal@none@1@S@Some bankers are reporting more inquiries than usual about CDs since Friday.@@@@1@12@@oe@2-2-2013
22063007@unknown@formal@none@1@S@"Reports from branches are that there has been greater interest in the last day or so," said Steven Braitman, a vice president at Chemical Bank in New York.@@@@1@28@@oe@2-2-2013
22063008@unknown@formal@none@1@S@Chemical said deposits Monday were about $5 million higher than usual and it expects more activity as investors receive the proceeds from sales of stock.@@@@1@25@@oe@2-2-2013
22063009@unknown@formal@none@1@S@"This is no time to be playing in the street . . .@@@@1@13@@oe@2-2-2013
22063010@unknown@formal@none@1@S@the Dow has more ups and downs than an elevator," proclaimed an advertisement Monday in New York newspapers, touting Lincoln Savings Bank's one-year CD.@@@@1@24@@oe@2-2-2013
22063011@unknown@formal@none@1@S@Harold Jones, Lincoln's chief retail banking officer, said there hasn't yet been "a discernible response," although the ad included a coupon that could arrive later in the week.@@@@1@28@@oe@2-2-2013
22063012@unknown@formal@none@1@S@Friday's market rout came smack in the middle of the heaviest month for CD rollovers, when a number of banks and thrifts already have promotions under way.@@@@1@27@@oe@2-2-2013
22063013@unknown@formal@none@1@S@First National Bank of Boston, for example, is offering certain new depositors an extra quarter of a percentage point on six-month and 12-month CDs.@@@@1@24@@oe@2-2-2013
22063014@unknown@formal@none@1@S@Some banks actually boosted yields on the shortest term CDs in the latest week.@@@@1@14@@oe@2-2-2013
22063015@unknown@formal@none@1@S@New York's Citibank, for instance, increased the yield on small-denomination three-month CDs to 8% from 7.9%.@@@@1@16@@oe@2-2-2013
22063016@unknown@formal@none@1@S@On average, however, three-month CDs at major banks are yielding a tenth of a percentage point less than they were a week ago.@@@@1@23@@oe@2-2-2013
22063017@unknown@formal@none@1@S@Average yields on CDs aimed at individual investors fell less than half as much as yields on Treasury bills sold at Monday's auction.@@@@1@23@@oe@2-2-2013
22063018@unknown@formal@none@1@S@Six-month CDs of $50,000 and less yielded an average 8.02% in the week ended Tuesday, down from 8.10%, according to Banxquote.@@@@1@21@@oe@2-2-2013
22063019@unknown@formal@none@1@S@The yield on six-month T-bills fell to 7.82% on Monday, from 8.01% the week before.@@@@1@15@@oe@2-2-2013
22063020@unknown@formal@none@1@S@Meanwhile, the average yield on six-month CDs of more than $90,000 fell to 7.93% in the latest week, according to Banxquote, from 8.10% the week before.@@@@1@26@@oe@2-2-2013
22063021@unknown@formal@none@1@S@Mr. Mehl noted that actual rates are almost identical on small and large-denomination CDs, but yields on CDs aimed at the individual investor are boosted by more frequent compounding.@@@@1@29@@oe@2-2-2013
22063022@unknown@formal@none@1@S@CDs sold by major brokerage houses, which like jumbo CDs tend to closely follow interest rate trends, also posted larger drops in yields.@@@@1@23@@oe@2-2-2013
22063023@unknown@formal@none@1@S@A six-month, broker-sold CD, for example, was yielding an average 8.09% in the latest week, a fifth of a percentage point lower than the week before.@@@@1@26@@oe@2-2-2013
22063024@unknown@formal@none@1@S@In late April, when interest rates were at their recent highs, short-term CDs sold by brokers were offering yields half a percentage point or more higher than banks.@@@@1@28@@oe@2-2-2013
22063025@unknown@formal@none@1@S@CD yields are generally expected to fall further in coming weeks.@@@@1@11@@oe@2-2-2013
22063026@unknown@formal@none@1@S@"What happened in the stock market and the bigger trade deficit" reported yesterday "make it unlikely that short-term interest rates will rise" any time soon, said Mr. Mehl of Banxquote.@@@@1@30@@oe@2-2-2013
22063027@unknown@formal@none@1@S@"Even before the market drop, rates were down about half a percentage point," said Robert J. Hutchinson, senior vice president for retail marketing at Manufacturers Hanover Trust Co. in New York.@@@@1@31@@oe@2-2-2013
22063028@unknown@formal@none@1@S@"That puts pressure on CD rates.@@@@1@6@@oe@2-2-2013
22064001@unknown@formal@none@1@S@Conservatives have an important decision to make this fall.@@@@1@9@@oe@2-2-2013
22064002@unknown@formal@none@1@S@At the recent meetings of the World Bank and International Monetary Fund, the Bush administration announced its intention to decide by yearend the size of the next increase in the IMF's capital base.@@@@1@33@@oe@2-2-2013
22064003@unknown@formal@none@1@S@While the U.S. share of the increase probably will not reach the $12 billion or more implicit in the IMF's request for a doubling of its $90 billion capital, the administration probably will agree to a multibillion-dollar increase.@@@@1@38@@oe@2-2-2013
22064004@unknown@formal@none@1@S@This would be consistent with its unwavering support for the Brady Plan and G-7 exchange-rate intervention, and with its financial commitment to Mexico, Poland and others.@@@@1@26@@oe@2-2-2013
22064005@unknown@formal@none@1@S@The IMF has several reasons for requesting the increase.@@@@1@9@@oe@2-2-2013
22064006@unknown@formal@none@1@S@Its role in the economies of developing countries has grown steadily since the 1970s.@@@@1@14@@oe@2-2-2013
22064007@unknown@formal@none@1@S@The size and pace of disbursements will accelerate further under the Brady Plan, which promises larger and earlier disbursements to approved countries.@@@@1@22@@oe@2-2-2013
22064008@unknown@formal@none@1@S@At least three other factors have encouraged the IMF to insist on increased capital.@@@@1@14@@oe@2-2-2013
22064009@unknown@formal@none@1@S@First, it argues that its capital base must be increased in order to maintain its size relative to world financial markets, for which it feels some responsibility.@@@@1@27@@oe@2-2-2013
22064010@unknown@formal@none@1@S@Second, the World Bank's recent $75 billion capital increase -- $14 billion from the U.S. -- has left the IMF feeling less than first fiddle among international financial institutions.@@@@1@29@@oe@2-2-2013
22064011@unknown@formal@none@1@S@Third, the IMF would like to meet Japan's request for increased ownership (currently 4.5%).@@@@1@14@@oe@2-2-2013
22064012@unknown@formal@none@1@S@Japan has supported a larger role for the IMF in developing-country debt issues, and is an important financial resource for IMF-guided programs in developing countries.@@@@1@25@@oe@2-2-2013
22064013@unknown@formal@none@1@S@While international politics may argue for the capital increase, there is a clear economic case against it.@@@@1@17@@oe@2-2-2013
22064014@unknown@formal@none@1@S@Opponents of the increase argue that the IMF practices central planning while supporting ineffective governments.@@@@1@15@@oe@2-2-2013
22064015@unknown@formal@none@1@S@They question whether the IMF has any role in developing countries, given its original mandate to assist industrial countries in balance-of-payments emergencies.@@@@1@22@@oe@2-2-2013
22064016@unknown@formal@none@1@S@Opponents show that there are already more funds available than commendable reform efforts.@@@@1@13@@oe@2-2-2013
22064017@unknown@formal@none@1@S@They worry that new IMF funding of developing countries will simply end up substituting IMF debt for reschedulable commercial bank debt, a bad trade all around.@@@@1@26@@oe@2-2-2013
22064018@unknown@formal@none@1@S@They believe microeconomics, which addresses the problems of markets, investment climate and management practices, is the key to developing-country growth, not the IMF's Keynesian focus on trade deficits, quarterly targets and government debt.@@@@1@33@@oe@2-2-2013
22064019@unknown@formal@none@1@S@They point at the numerous developing-country governments that have inflated, taxed and regulated themselves into despair under successive IMF programs.@@@@1@20@@oe@2-2-2013
22064020@unknown@formal@none@1@S@Decisions on increases in the IMF's capital base traditionally are made by the administration, with subsequent authorization by Congress.@@@@1@19@@oe@2-2-2013
22064021@unknown@formal@none@1@S@The last U.S. congressional authorization, in 1983, was a political donnybrook and carried a $6 billion housing program along with it to secure adequate votes.@@@@1@25@@oe@2-2-2013
22064022@unknown@formal@none@1@S@The politics of the 1990 congressional authorization are likely to be similar to those of previous authorizations.@@@@1@17@@oe@2-2-2013
22064023@unknown@formal@none@1@S@Liberals may support the stabilizing, quasi-governmental role of the IMF on two conditions: that the administration give assurances that liberal Democrats' support will not be used against them in congressional re-election campaigns; and that the legislation address -- with dollars -- social and environmental concerns.@@@@1@45@@oe@2-2-2013
22064024@unknown@formal@none@1@S@Conservative Republicans will be given the choice of supporting or fighting their party's popular president in an election year.@@@@1@19@@oe@2-2-2013
22064025@unknown@formal@none@1@S@A U.S. decision to refuse the IMF its capital increase, or limit it to 25%, would bring a major change in international economic policy, and could not be taken lightly.@@@@1@30@@oe@2-2-2013
22064026@unknown@formal@none@1@S@Commentators would fret over the implications for the G-7 coordination process and the stability of world financial markets.@@@@1@18@@oe@2-2-2013
22064027@unknown@formal@none@1@S@Because commercial banks and the developing-country governments believe they will get a piece of any capital increase, a scaled-down IMF mission would leave both feeling shortchanged.@@@@1@26@@oe@2-2-2013
22064028@unknown@formal@none@1@S@Furthermore, a U.S. rejection of the capital increase (and transfer of shares to Japan) would give Japan an argument against future calls for economic burden-sharing.@@@@1@25@@oe@2-2-2013
22064029@unknown@formal@none@1@S@On the other hand, a decision to increase the IMF's capital would reinforce the central economic role of multilateral institutions in developing countries.@@@@1@23@@oe@2-2-2013
22064030@unknown@formal@none@1@S@With the increase, even more developing-country energy and talent would be diverted from creating profitable economic systems to setting up economic planning ministries that generate IMF-approved economic plans.@@@@1@28@@oe@2-2-2013
22064031@unknown@formal@none@1@S@Upping the ante could slow economic development even further, as countries delay market-opening steps in anticipation of richer multilateral support.@@@@1@20@@oe@2-2-2013
22064032@unknown@formal@none@1@S@Conservatives should take a position prior to the administration's year-end deadline.@@@@1@11@@oe@2-2-2013
22064033@unknown@formal@none@1@S@The issues are too important to be left to the financial and budget ministries fighting over the size of the capital increase, rather than its purpose.@@@@1@26@@oe@2-2-2013
22064034@unknown@formal@none@1@S@If conservatives don't support an increase in the IMF's capital, then it is incumbent on them to speak up now and explain the alternative.@@@@1@24@@oe@2-2-2013
22064035@unknown@formal@none@1@S@Mr. Malpass directs the Republican staff of the Joint Economic Committee of Congress.@@@@1@13@@oe@2-2-2013
22065001@unknown@formal@none@1@S@The Chicago Mercantile Exchange fined and suspended two commodities traders accused of making prearranged trades with each other that allegedly cheated a customer.@@@@1@23@@oe@2-2-2013
22065002@unknown@formal@none@1@S@Merc officials said Gary N. Roberts was disciplined following the exchange's investigation of his trading in several commodities pits from July to November 1988.@@@@1@24@@oe@2-2-2013
22065003@unknown@formal@none@1@S@The Merc said Mr. Roberts withheld from the market certain orders in cooperation with another trader, David Stein.@@@@1@18@@oe@2-2-2013
22065004@unknown@formal@none@1@S@The Merc fined Mr. Roberts $15,000 and suspended his trading membership for three years.@@@@1@14@@oe@2-2-2013
22065005@unknown@formal@none@1@S@Also, he and Mr. Stein were ordered to make restitution of $35,000 to a customer.@@@@1@15@@oe@2-2-2013
22065006@unknown@formal@none@1@S@Mr. Stein was fined $25,000 and suspended for three years.@@@@1@10@@oe@2-2-2013
22065007@unknown@formal@none@1@S@Messrs. Roberts and Stein couldn't be reached for comment.@@@@1@9@@oe@2-2-2013
22065008@unknown@formal@none@1@S@The Merc said that as part of the disciplinary settlement, neither man admitted, nor denied the alleged violations.@@@@1@18@@oe@2-2-2013
22065009@unknown@formal@none@1@S@Neither was among the 46 traders indicted last August in a federal investigation of traders at both the Merc and the Chicago Board of Trade.@@@@1@25@@oe@2-2-2013
22066001@unknown@formal@none@1@S@In a move that could pose a new competitive challenge to Time Warner Inc.'s powerful Home Box Office, cable giant Tele-Communications Inc. agreed to buy half of Showtime Networks Inc. from Viacom Inc. for $225 million.@@@@1@36@@oe@2-2-2013
22066002@unknown@formal@none@1@S@The purchase comes after nearly three years of on-again off-again talks between TCI and Viacom, which has also discussed the sale of an interest in Showtime with other cable operators.@@@@1@30@@oe@2-2-2013
22066003@unknown@formal@none@1@S@Showtime is a distant No. 2 to Home Box Office, and in May filed a $2.5 billion antitrust suit against Time Warner, charging the company and its HBO and American Television cable units with conspiring to monopolize the pay TV business.@@@@1@41@@oe@2-2-2013
22066004@unknown@formal@none@1@S@HBO has close to 24 million subscribers to its HBO and Cinemax networks, while Showtime and its sister service, The Movie Channel, have only about 10 million, according to Paul Kagan Associates, a Carmel, Calif., research firm.@@@@1@37@@oe@2-2-2013
22066005@unknown@formal@none@1@S@For TCI, the investment in Showtime puts it in an unusual position; as the largest cable operator, with control of close to 12 million of the nation's 52 million cable subscribers, TCI is HBO's largest customer.@@@@1@36@@oe@2-2-2013
22066006@unknown@formal@none@1@S@But TCI President John Malone has long been concerned about HBO's dominance of the pay TV business, and has been eager to keep Showtime as a healthy competitor.@@@@1@28@@oe@2-2-2013
22066007@unknown@formal@none@1@S@"It is important to the cable industry that we have a vibrant and competitive pay-television marketplace," Mr. Malone said in a statement.@@@@1@22@@oe@2-2-2013
22066008@unknown@formal@none@1@S@In a telephone interview, Robert Thomson, TCI senior vice president, said Showtime's suit against HBO "doesn't involve us, and nothing we're doing here bears any relationship to that."@@@@1@28@@oe@2-2-2013
22066009@unknown@formal@none@1@S@He added, "We don't intend to be drawn into it," noting that TCI won't play any active role in the management of Showtime.@@@@1@23@@oe@2-2-2013
22066010@unknown@formal@none@1@S@Linking up Showtime with the largest cable operator in the U.S. could sharply boost its subscribers.@@@@1@16@@oe@2-2-2013
22066011@unknown@formal@none@1@S@TCI said it may bring in other cable operators as investors, a practice it has employed in the past with investments in other cable networks, such as The Discovery Channel.@@@@1@30@@oe@2-2-2013
22066012@unknown@formal@none@1@S@Additional cable partners could boost subscribers even further.@@@@1@8@@oe@2-2-2013
22066013@unknown@formal@none@1@S@Time Warner declined comment.@@@@1@4@@oe@2-2-2013
22066014@unknown@formal@none@1@S@In addition to owning HBO, Time Warner owns American Television & Communications Inc., the nation's second largest cable operator after TCI.@@@@1@21@@oe@2-2-2013
22066015@unknown@formal@none@1@S@Viacom also owns cable systems, but it is the 14th largest operator of such systems, with less than one million subscribers.@@@@1@21@@oe@2-2-2013
22066016@unknown@formal@none@1@S@The TCI investment is a big victory for Viacom's chief executive officer, Frank Biondi, and Winston H. Cox, president of the Showtime unit.@@@@1@23@@oe@2-2-2013
22066017@unknown@formal@none@1@S@"This takes any question of Showtime's viability and puts it away once and for all," Mr. Biondi said in a telephone interview.@@@@1@22@@oe@2-2-2013
22066018@unknown@formal@none@1@S@The fight between HBO and Showtime is particularly acrimonious because Mr. Biondi is the former chief executive of HBO, and Mr. Cox served as chief of marketing for the service.@@@@1@30@@oe@2-2-2013
22066019@unknown@formal@none@1@S@They were both hired by Sumner Redstone, the Boston billionaire who took control of Viacom three years ago in a leveraged buy-out.@@@@1@22@@oe@2-2-2013
22066020@unknown@formal@none@1@S@Time Warner has vigorously denied all of Viacom's allegations.@@@@1@9@@oe@2-2-2013
22067001@unknown@formal@none@1@S@Boeing Co., already struck by its Machinists union, briefly called off contract talks with its engineers and labeled their demands "grossly excessive."@@@@1@22@@oe@2-2-2013
22067002@unknown@formal@none@1@S@Later, however, the company agreed to meet on Monday with the Seattle Professional Engineering Employees Association after a federal mediator intervened, according to the union.@@@@1@25@@oe@2-2-2013
22067003@unknown@formal@none@1@S@A spokesman for the engineers said the company asked the union to reduce its demands, which included a 19% pay hike in the first year and 8% in the second and third years.@@@@1@33@@oe@2-2-2013
22067004@unknown@formal@none@1@S@The union represents about 28,000 engineers and technical workers.@@@@1@9@@oe@2-2-2013
22067005@unknown@formal@none@1@S@Its contract expires Dec. 1.@@@@1@5@@oe@2-2-2013
22067006@unknown@formal@none@1@S@Meanwhile, a federal mediator is scheduled to meet today with Boeing officials and representatives of 55,000 striking Machinists.@@@@1@18@@oe@2-2-2013
22067007@unknown@formal@none@1@S@"It will take several meetings to resolve this," said a spokesman for the Machinists union.@@@@1@15@@oe@2-2-2013
22067008@unknown@formal@none@1@S@"We don't want to bring back something the members will reject."@@@@1@11@@oe@2-2-2013
22067009@unknown@formal@none@1@S@Machinists already have rejected a package that would have provided a 10% pay raise plus bonuses over the three-year life of the contract.@@@@1@23@@oe@2-2-2013
22067010@unknown@formal@none@1@S@It also would have reduced mandatory overtime.@@@@1@7@@oe@2-2-2013
22068001@unknown@formal@none@1@S@Investor Asher Edelman increased his stake in Intelogic Trace Inc. and cleared the way for additional purchases.@@@@1@17@@oe@2-2-2013
22068002@unknown@formal@none@1@S@It wasn't clear, however, whether the actions were related to a battle between the corporate raider and New York attorney Martin Ackerman for control of Datapoint Corp., a San Antonio, Texas-based data-processing systems maker.@@@@1@34@@oe@2-2-2013
22068003@unknown@formal@none@1@S@Intelogic Trace, a computer services company, was spun off to Datapoint holders in 1985, after Mr. Edelman gained control.@@@@1@19@@oe@2-2-2013
22068004@unknown@formal@none@1@S@After Mr. Ackerman announced he was soliciting consents from shareholders in order to wrest control of Datapoint from Mr. Edelman, the corporate raider purchased 30% of Datapoint's shares.@@@@1@28@@oe@2-2-2013
22068005@unknown@formal@none@1@S@In a Securities and Exchange Commission filing, Mr. Edelman said from Sept. 29 to Oct. 13, he acquired 309,500 shares of Intelogic common shares for $2.25 to $2.375 each.@@@@1@29@@oe@2-2-2013
22068006@unknown@formal@none@1@S@The purchases increased his stake to 16.2% of the shares outstanding.@@@@1@11@@oe@2-2-2013
22068007@unknown@formal@none@1@S@The filing also said certain provisions which apply to persons acquiring 20% or more of Intelogic common stock, were waived by Intelogic for Mr. Edelman, who is chairman of the company.@@@@1@31@@oe@2-2-2013
22068008@unknown@formal@none@1@S@Mr. Edelman couldn't be reached for comment.@@@@1@7@@oe@2-2-2013
22069001@unknown@formal@none@1@S@The federal government should make free, voluntary testing for the AIDS virus the cornerstone of an expanded campaign to stop the spread of acquired immune deficiency syndrome, the Hudson Institute recommended.@@@@1@31@@oe@2-2-2013
22069002@unknown@formal@none@1@S@"By encouraging massive, routine, voluntary testing we can enable society to voluntarily segregate itself sexually into two groups: those who carry the virus and those who do not," the Indianapolis research organization said in a new report.@@@@1@37@@oe@2-2-2013
22069003@unknown@formal@none@1@S@The report takes a more alarmed view of AIDS and recommends a more sweeping response than many other analyses.@@@@1@19@@oe@2-2-2013
22069004@unknown@formal@none@1@S@It warns that the AIDS epidemic "may reduce the rate of growth of the work force, curb productivity gains and slow economic growth."@@@@1@23@@oe@2-2-2013
22069005@unknown@formal@none@1@S@It contends that current government policy is failing to stem the AIDS epidemic because it suggests the use of condoms can make sex "safe."@@@@1@24@@oe@2-2-2013
22069006@unknown@formal@none@1@S@But the report says: "The only safe sex is sex between uninfected partners," and testing is the only way to learn of infection.@@@@1@23@@oe@2-2-2013
22069007@unknown@formal@none@1@S@Hudson's researchers estimated that it would cost less than $650 million a year to test the entire population between the ages of 12 and 65 years old.@@@@1@27@@oe@2-2-2013
22069008@unknown@formal@none@1@S@In addition, the report recommends that federal and state governments provide free treatment to all who test positive.@@@@1@18@@oe@2-2-2013
22070001@unknown@formal@none@1@S@An unexpectedly sharp widening in the U.S. trade gap for August dragged the dollar lower Tuesday, but profit-taking on short positions helped the currency rebound to close mixed against major counterparts.@@@@1@31@@oe@2-2-2013
22070002@unknown@formal@none@1@S@While the market kept careful tabs on Wall Street's gyrations, it shrugged off a modest downturn in equities to bid the dollar well above the day's lows.@@@@1@27@@oe@2-2-2013
22070003@unknown@formal@none@1@S@Soon after the release of the U.S. trade figures, the dollar plunged to an intraday low of 140.95 yen.@@@@1@19@@oe@2-2-2013
22070004@unknown@formal@none@1@S@It also declined against the mark but didn't reach its intraday low of 1.8435 marks until two hours later.@@@@1@19@@oe@2-2-2013
22070005@unknown@formal@none@1@S@The unit stabilized about midday New York time at around 1.85 marks and 141 yen, prompting unconfirmed rumors that the U.S. Federal Reserve had intervened to blunt the unit's tumble.@@@@1@30@@oe@2-2-2013
22070006@unknown@formal@none@1@S@The dollar finished at its intraday highs.@@@@1@7@@oe@2-2-2013
22070007@unknown@formal@none@1@S@Dealers noted that the foreign exchange market's initial bearish reaction to the U.S. trade figures was tempered later by a "calmer reassessment of the data."@@@@1@25@@oe@2-2-2013
22070008@unknown@formal@none@1@S@The U.S. Commerce Department reported a $10.77 billion deficit in August, compared with a revised July deficit of $8.24 billion.@@@@1@20@@oe@2-2-2013
22070009@unknown@formal@none@1@S@Economists had expected a $9.1 billion gap.@@@@1@7@@oe@2-2-2013
22070010@unknown@formal@none@1@S@The August figure reflected a 6.4% rise in imports and a 0.2% drop in exports.@@@@1@15@@oe@2-2-2013
22070011@unknown@formal@none@1@S@Marc M. Goloven, an economist with Manufacturers Hanover Trust in New York, said that while the figures appear to indicate a sadly deteriorating U.S. trade performance, there's still enough positive news in the data to justify buying dollars.@@@@1@38@@oe@2-2-2013
22070012@unknown@formal@none@1@S@He said that while the U.S. trade gap with Canada has widened significantly, the trade deficit with Western Europe and Japan continues to narrow.@@@@1@24@@oe@2-2-2013
22070013@unknown@formal@none@1@S@And he added that manufactured goods exports are still rising.@@@@1@10@@oe@2-2-2013
22070014@unknown@formal@none@1@S@The dollar's near-term path remains foggy, according to currencny analysts, who characterize the market as "bewildering."@@@@1@16@@oe@2-2-2013
22070015@unknown@formal@none@1@S@In late New York trading yesterday, the dollar was quoted at 1.8667 marks, down from 1.8685 marks late Monday, and at 142.75 yen, up from 141.85 yen late Monday.@@@@1@29@@oe@2-2-2013
22070016@unknown@formal@none@1@S@Sterling was unchanged at $1.5753.@@@@1@5@@oe@2-2-2013
22070017@unknown@formal@none@1@S@In Tokyo Wednesday, the U.S. currency opened for trading at 142.55 yen, unchanged from Tuesday's Tokyo close.@@@@1@17@@oe@2-2-2013
22070018@unknown@formal@none@1@S@Later, the U.S. currency fell to about 142.25 yen on news reports of the San Francisco earthquake.@@@@1@17@@oe@2-2-2013
22070019@unknown@formal@none@1@S@Some analysts remain bullish and point out that the dollar continues to be well bid despite key rate increases in Europe and Japan, several weeks of aggressive dollar sales by the world central banks -- some traders estimate that the barrage of sales topped $12 billion -- and a 190-point plunge on the New York Stock Exchange.@@@@1@57@@oe@2-2-2013
22070020@unknown@formal@none@1@S@They note that the U.S. unit is trading at the upper end of the presumed target zones established by the Group of Seven trading partners.@@@@1@25@@oe@2-2-2013
22070021@unknown@formal@none@1@S@The G-7 comprises West Germany, the U.S., France, the U.K., Italy, Canada and Japan.@@@@1@14@@oe@2-2-2013
22070022@unknown@formal@none@1@S@The so-called Louvre accord was seen to have set ranges of 1.70 marks to 1.90 marks and 120 yen to 140 yen.@@@@1@22@@oe@2-2-2013
22070023@unknown@formal@none@1@S@They say that the recent injection of liquidity into the U.S. banking system has been modest, and they don't anticipate significant easing by the U.S. Federal Reserve.@@@@1@27@@oe@2-2-2013
22070024@unknown@formal@none@1@S@The Fed arranged $1.5 billion of customer repurchase agreements Tuesday, the second repurchase agreement in two days.@@@@1@17@@oe@2-2-2013
22070025@unknown@formal@none@1@S@The move, which injects capital into the system, is seen as an effort to reassure the finanicial markets that the U.S. central bank is ready to provide the ample liquidity.@@@@1@30@@oe@2-2-2013
22070026@unknown@formal@none@1@S@But other analysts contend that while the Fed's move to loosen credit hasn't been aggressive, it nevertheless sends a clear signal that, at least for now, the Fed has relaxed its grip on credit.@@@@1@34@@oe@2-2-2013
22070027@unknown@formal@none@1@S@They add that the Fed has allowed the key federal funds interest rate to dip to about 8 5/8% from its levels of just below 9% last week.@@@@1@28@@oe@2-2-2013
22070028@unknown@formal@none@1@S@The federal funds rate is the overnight lending rate that banks charge each other.@@@@1@14@@oe@2-2-2013
22070029@unknown@formal@none@1@S@Market participants said that the mark continues to post the most significant gains against the dollar.@@@@1@16@@oe@2-2-2013
22070030@unknown@formal@none@1@S@On the Commodity Exchange in New York, gold for current delivery settled at $367.40 an ounce, up 10 cents.@@@@1@19@@oe@2-2-2013
22070031@unknown@formal@none@1@S@Estimated volume was a moderate 3.5 million ounces.@@@@1@8@@oe@2-2-2013
22070032@unknown@formal@none@1@S@In early trading in Hong Kong Wednesday, gold was at $366.55 an ounce.@@@@1@13@@oe@2-2-2013
22071001@unknown@formal@none@1@S@National Semiconductor Corp. said it settled a four-year-old patent infringement case against Linear Technology Corp. by accepting a $3 million payment from Linear in exchange for granting Linear irrevocable licenses for all products involved.@@@@1@34@@oe@2-2-2013
22071002@unknown@formal@none@1@S@The two companies also agreed to settle any future property rights issues over the next 10 years through binding arbitration, both companies said.@@@@1@23@@oe@2-2-2013
22071003@unknown@formal@none@1@S@The products are so-called analog integrated circuits that have applications in the consumer electronics, automobile and electronic instrumentation markets.@@@@1@19@@oe@2-2-2013
22071004@unknown@formal@none@1@S@Linear Technology, Milpitas, Calif., called the settlement "positive," since products covered by the disputed patents account for about 20% of its annual sales.@@@@1@23@@oe@2-2-2013
22071005@unknown@formal@none@1@S@The electronics concern said it already has paid $2 million of the settlement to National Semiconductor, Santa Clara, Calif., and will pay the remaining $1 million in equal installments over the next eight quarters.@@@@1@34@@oe@2-2-2013
22071006@unknown@formal@none@1@S@The payments aren't expected to have an impact on coming operating results, Linear added.@@@@1@14@@oe@2-2-2013
22072001@unknown@formal@none@1@S@NBC's winning streak has been canceled.@@@@1@6@@oe@2-2-2013
22072002@unknown@formal@none@1@S@The National Broadcasting Co., a unit of General Electric Co., had its record-breaking 68-week reign as the prime-time ratings leader snapped yesterday by ABC-TV, a subsidiary of Capital Cities/ABC Inc.@@@@1@30@@oe@2-2-2013
22072003@unknown@formal@none@1@S@In the ratings compiled by the A.C. Nielsen Co., ABC, which broadcast the World Series, topped the competition with a 14.8 rating and 25 share.@@@@1@25@@oe@2-2-2013
22072004@unknown@formal@none@1@S@NBC was second with a 13.9 rating and 24 share followed by CBS Inc.'s television network with a 12.5 rating and 21 share.@@@@1@23@@oe@2-2-2013
22072005@unknown@formal@none@1@S@(A ratings point represents 904,000 television households; shares indicate the percentage of sets in use.)@@@@1@15@@oe@2-2-2013
22072006@unknown@formal@none@1@S@The first two games of the World Series between the Oakland Athletics and San Francisco Giants didn't finish in the top 10; instead they landed in 16th and 18th place.@@@@1@30@@oe@2-2-2013
22072007@unknown@formal@none@1@S@The highest-rated show continues to be ABC's "Roseanne."@@@@1@8@@oe@2-2-2013
22072008@unknown@formal@none@1@S@NBC had five of the top 10 shows; ABC had four and CBS had one.@@@@1@15@@oe@2-2-2013
22072009@unknown@formal@none@1@S@CBS held the previous record for consecutive No. 1 victories -- 46 weeks -- during the 1962-63 season.@@@@1@18@@oe@2-2-2013
22073001@unknown@formal@none@1@S@Procter & Gamble Co., Cincinnati, expanding its presence in the food service market, said it acquired Maryland Club Foods, a coffee supplier, from an investor group led by F. Philip Handy of Winter Park, Fla.@@@@1@35@@oe@2-2-2013
22073002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
22073003@unknown@formal@none@1@S@Houston-based Maryland Club Foods, which had sales of about $200 million last year, sells coffee under the Maryland Club and Butter-Nut brands to restaurants, hotels, offices and airlines.@@@@1@28@@oe@2-2-2013
22073004@unknown@formal@none@1@S@The acquisition "gives us additional production capacity for the food service coffee business and a stronger distribution network," a P&G spokesman said.@@@@1@22@@oe@2-2-2013
22073005@unknown@formal@none@1@S@P&G already sells its Folgers ground roast coffee to food service concerns, but not to as many markets as Maryland Club.@@@@1@21@@oe@2-2-2013
22073006@unknown@formal@none@1@S@For example, P&G up until now hasn't sold coffee to airlines and does only limited business with hotels and large restaurant chains.@@@@1@22@@oe@2-2-2013
22073007@unknown@formal@none@1@S@Maryland Club also distributes tea, which fits well with P&G's Tender Leaf brand, and hot cocoa products.@@@@1@17@@oe@2-2-2013
22073008@unknown@formal@none@1@S@The company said the acquisition has been completed and reviewed by the Federal Trade Commission.@@@@1@15@@oe@2-2-2013
22073009@unknown@formal@none@1@S@The purchase includes a coffee-roasting plant in Omaha, Neb., and a leased facility in Houston.@@@@1@15@@oe@2-2-2013
22074001@unknown@formal@none@1@S@MACMILLAN BLOEDEL Ltd. said it borrowed 215 million Dutch guilders (US$102 million) from a group of Dutch institutional investors.@@@@1@19@@oe@2-2-2013
22074002@unknown@formal@none@1@S@MacMillan Bloedel, a Vancouver, British Columbia, forest products concern, said the 8.1% loan is due Oct. 16, 1996.@@@@1@18@@oe@2-2-2013
22074003@unknown@formal@none@1@S@Funds will be used to repay existing short-term debt and to finance capital spending, it said.@@@@1@16@@oe@2-2-2013
22075001@unknown@formal@none@1@S@President Bush will veto a bill funding the Departments of Labor, Education and Health and Human Services because it would allow federal funding of abortions for victims of rape and incest, the White House said.@@@@1@35@@oe@2-2-2013
22075002@unknown@formal@none@1@S@Mr. Bush had threatened a veto previously.@@@@1@7@@oe@2-2-2013
22075003@unknown@formal@none@1@S@But he put off a firm decision while his aides and legislators searched for a compromise that would tighten requirements for such abortions in a way acceptable to the president.@@@@1@30@@oe@2-2-2013
22075004@unknown@formal@none@1@S@White House Press Secretary Marlin Fitzwater said negotiations between Bush aides and lawmakers ended Monday without success.@@@@1@17@@oe@2-2-2013
22075005@unknown@formal@none@1@S@Most lawmakers think it will be extremely difficult for Mr. Bush's opponents on the abortion issue to round up the votes needed to override the veto.@@@@1@26@@oe@2-2-2013
22075006@unknown@formal@none@1@S@But there still may be prolonged debate and political maneuvering that holds up the $156.7 billion funding bill for the fiscal year that began Oct. 1.@@@@1@26@@oe@2-2-2013
22075007@unknown@formal@none@1@S@Mr. Bush has said he personally approves of abortions in the cases of rape, incest and danger to the life of the mother.@@@@1@23@@oe@2-2-2013
22075008@unknown@formal@none@1@S@But he has opposed Medicaid funding of abortions for poor women who say they are victims of rape and incest, arguing that those exceptions are enforced so loosely that they open the way for abortions for other women.@@@@1@38@@oe@2-2-2013
22076001@unknown@formal@none@1@S@NEWSPAPERS:@@@@1@1@@oe@2-2-2013
22076002@unknown@formal@none@1@S@Media General Inc. intends to sell two of its West Coast weekly newspaper chains, Golden West Publishing Inc. and Highlander Publications, which together comprise 31 papers.@@@@1@26@@oe@2-2-2013
22076003@unknown@formal@none@1@S@Media General said it has had inquiries from potential buyers and expects to complete a sale in 1989.@@@@1@18@@oe@2-2-2013
22076004@unknown@formal@none@1@S@It wouldn't discuss a price.@@@@1@5@@oe@2-2-2013
22076005@unknown@formal@none@1@S@Lee Dirks & Associates is to sell the chains.@@@@1@9@@oe@2-2-2013
22077001@unknown@formal@none@1@S@J.P. Morgan & Co., New York, will help the statutory managers of DFC New Zealand Ltd. to evaluate the failed investment bank's condition.@@@@1@23@@oe@2-2-2013
22077002@unknown@formal@none@1@S@Earlier this month, the Reserve Bank of New Zealand, the country's central bank, appointed the managers to run the investment bank and pay creditors.@@@@1@24@@oe@2-2-2013
22077003@unknown@formal@none@1@S@DFC asked the central bank to appoint managers after it revised loan-loss provisions to around the same level of shareholders' funds of 180 million New Zealand dollars (US$105.4 million).@@@@1@29@@oe@2-2-2013
22077004@unknown@formal@none@1@S@DFC is held 80% by National Provident Fund, New Zealand's largest pension fund, and 20% by Salomon Brothers Inc., the investment-bank and securities-firm subsidiary of Salomon Inc. in New York.@@@@1@30@@oe@2-2-2013
22077005@unknown@formal@none@1@S@A spokeswoman for J.P. Morgan, parent of the bank Morgan Guaranty Trust Co., confirmed its appointment to assist the managers but declined to elaborate.@@@@1@24@@oe@2-2-2013
22077006@unknown@formal@none@1@S@The managers said in a brief statement yesterday that Morgan will help evaluate DFC's position and help determine alternatives.@@@@1@19@@oe@2-2-2013
22077007@unknown@formal@none@1@S@The managers don't expect to complete the evaluation until Nov. 30.@@@@1@11@@oe@2-2-2013
22078001@unknown@formal@none@1@S@An experimental vaccine can alter the immune response of people infected with the AIDS virus, a prominent U.S. scientist said.@@@@1@20@@oe@2-2-2013
22078002@unknown@formal@none@1@S@However, that doesn't mean they can benefit from the vaccine.@@@@1@10@@oe@2-2-2013
22078003@unknown@formal@none@1@S@Its effectiveness can't be determined until a large clinical trial is undertaken by the Army in January, according to Robert Redfield, chief of acquired immune deficiency syndrome research at Walter Reed Army Institute of Research.@@@@1@35@@oe@2-2-2013
22078004@unknown@formal@none@1@S@Dr. Redfield's report on early experiments using an AIDS vaccine made by MicroGeneSys Inc. of West Haven, Conn., came at a meeting of AIDS vaccine researchers in Florida late Monday.@@@@1@30@@oe@2-2-2013
22078005@unknown@formal@none@1@S@The vaccine, VaxSyn HIV-1, has been safely given to 14 people, some of whom are experiencing substantial increases in certain antibodies.@@@@1@21@@oe@2-2-2013
22078006@unknown@formal@none@1@S@"The conventional wisdom used to be that you couldn't modify the immune response of an infected individual" by innoculating them with synthetic viral proteins, Dr. Redfield said.@@@@1@27@@oe@2-2-2013
22078007@unknown@formal@none@1@S@"We've demonstrated that you can."@@@@1@5@@oe@2-2-2013
22078008@unknown@formal@none@1@S@He said certain volunteers developed kinds of antibodies associated with early AIDS.@@@@1@12@@oe@2-2-2013
22078009@unknown@formal@none@1@S@Other antibodies sparked by the preparation are of a sort rarely present in large quantities in infected or ill individuals, he added.@@@@1@22@@oe@2-2-2013
22078010@unknown@formal@none@1@S@One of the mysteries of AIDS remains why infected people produce large quantities of antibodies, but deteriorate nonetheless.@@@@1@18@@oe@2-2-2013
22079001@unknown@formal@none@1@S@Cross & Trecker Corp. said it reached an agreement to sell its Wiedemann division to recently created Murata Wiedemann Inc., a U.S. affiliate of Murata Machinery Ltd. of Kyoto, Japan.@@@@1@30@@oe@2-2-2013
22079002@unknown@formal@none@1@S@The agreement also includes the purchase of Cross & Trecker's Warner & Swasey (Switzerland) AG unit by a European affiliate of Murata Machinery.@@@@1@23@@oe@2-2-2013
22079003@unknown@formal@none@1@S@Cross & Trecker is also selling its equity interest in a Japanese joint venture, Murata Warner Swasey, to Murata Machinery.@@@@1@20@@oe@2-2-2013
22079004@unknown@formal@none@1@S@Cross & Trecker, a Bloomfield Hills, Mich., machine-tool maker, said the net sales price of the total transaction is $24 million.@@@@1@21@@oe@2-2-2013
22079005@unknown@formal@none@1@S@The Wiedemann division was one of three businesses put up for sale in Cross & Trecker's restructuring program announced in July.@@@@1@21@@oe@2-2-2013
22079006@unknown@formal@none@1@S@Cross & Trecker said negotiations are under way for the sale of another company, RobertsCorp.@@@@1@15@@oe@2-2-2013
22080001@unknown@formal@none@1@S@The average interest rate fell to 8.292% at Citicorp's $50 million weekly auction of 91-day commercial paper, or corporate IOUs, from 8.483% at last week's sale.@@@@1@26@@oe@2-2-2013
22080002@unknown@formal@none@1@S@Bids totaling $465 million were submitted, and accepted bids were at 8.292%.@@@@1@12@@oe@2-2-2013
22080003@unknown@formal@none@1@S@Citicorp also said that the average rate fell to 7.986% at its $50 million auction of 182-day commercial paper from 8.1255% at last week's sale.@@@@1@25@@oe@2-2-2013
22080004@unknown@formal@none@1@S@Bids totaling $415 million were submitted, and accepted bids were at 7.986%.@@@@1@12@@oe@2-2-2013
22080005@unknown@formal@none@1@S@The bank holding company will auction another $50 million of commercial paper in each maturity next Tuesday.@@@@1@17@@oe@2-2-2013
22081001@unknown@formal@none@1@S@Matra S.A. reported its 1989 first-half profit soared 88%, and indicated that its previous estimate of a 50% rise in earnings for all of 1989 will be exceeded by a wide margin.@@@@1@32@@oe@2-2-2013
22081002@unknown@formal@none@1@S@The French electronics and defense group said attributable consolidated net profit for the first six months of 1989 totaled 244 million francs ($38.4 million), compared with 130 million francs ($20.5 million) in the corresponding period of@@@@1@36@@oe@2-2-2013
22081003@unknown@formal@none@1@S@Operating profit climbed 51%, to 572 million francs from 378 million in the first half of 1988.@@@@1@17@@oe@2-2-2013
22081004@unknown@formal@none@1@S@Matra said the sharp improvement in net profit partly reflected a decline of 59 million francs in the group's net loss from nonrecurring items in the first half of this year to 104 million francs from 163 million a year earlier.@@@@1@41@@oe@2-2-2013
22081005@unknown@formal@none@1@S@There was also a decline in the group's net financial costs to 25 million francs from 50 million a year before.@@@@1@21@@oe@2-2-2013
22081006@unknown@formal@none@1@S@These movements were offset, however, by a steep rise in corporate income tax payments to 199 million francs from 35 million in the first six months of 1988.@@@@1@28@@oe@2-2-2013
22081007@unknown@formal@none@1@S@Matra said the sharp rise in its first-half earnings was based on a 15% gain in consolidated revenue to 10.16 billion francs from 8.85 billion a year earlier.@@@@1@28@@oe@2-2-2013
22082001@unknown@formal@none@1@S@Rep. Lee Hamilton (D., Ind.) said he and Rep. Byron Dorgan (D., N.D.) are backing away from their proposal to make the Treasury Secretary a voting member of the Federal Reserve panel that sets monetary policy.@@@@1@36@@oe@2-2-2013
22082002@unknown@formal@none@1@S@Rep. Hamilton said the bill will be modified substantially to call for two meetings each year between the Fed's open market committee and the Treasury Secretary, the chairman of the Council of Economic Advisers and the director of the Office of Management and Budget.@@@@1@44@@oe@2-2-2013
22082003@unknown@formal@none@1@S@The original bill was strongly opposed by the Fed and publicly criticized by friends of the Fed as an attempt to undermine the central bank's independence.@@@@1@26@@oe@2-2-2013
22082004@unknown@formal@none@1@S@Fed critics, however, hailed it as a long overdue attempt to bring a measure of openness and democracy to the setting of monetary policy.@@@@1@24@@oe@2-2-2013
22082005@unknown@formal@none@1@S@Rep. Hamilton said the purpose of the meetings would be to "improve communications and perhaps coordination between the executive branch and the Fed."@@@@1@23@@oe@2-2-2013
22082006@unknown@formal@none@1@S@Fed Chairman Alan Greenspan meets regularly for lunch with Treasury Secretary Nicholas Brady and talks frequently with Budget Director Richard Darman and Michael Boskin, chairman of the Council of Economic Advisers.@@@@1@31@@oe@2-2-2013
22082007@unknown@formal@none@1@S@The administration officials don't ordinarily meet with the entire membership of the open market committee.@@@@1@15@@oe@2-2-2013
22083001@unknown@formal@none@1@S@B.F. Goodrich Co. said third-quarter profits dropped 34% because of lower prices for polyvinyl chloride materials, the company's largest product group.@@@@1@21@@oe@2-2-2013
22083002@unknown@formal@none@1@S@Net fell to $40.1 million, or $1.50 a share, from $60.7 million, or $2.32 a share, a year earlier.@@@@1@19@@oe@2-2-2013
22083003@unknown@formal@none@1@S@Sales for the quarter slipped 2.7% to $601.3 million from $618.1 million.@@@@1@12@@oe@2-2-2013
22083004@unknown@formal@none@1@S@Polyvinyl chloride capacity "has overtaken demand and we are experiencing reduced profit margins as a result," said John D. Ong, chairman and chief executive.@@@@1@24@@oe@2-2-2013
22083005@unknown@formal@none@1@S@Prices for general-purpose PVC resin have dropped more than 15% since last December, he said.@@@@1@15@@oe@2-2-2013
22083006@unknown@formal@none@1@S@The plastic resin is used in a wide range of products, including siding, pipe and electrical wire insulation.@@@@1@18@@oe@2-2-2013
22083007@unknown@formal@none@1@S@Goodrich's vinyl-products segment reported operating profit for the quarter of $30.1 million, less than half the $64.1 million of the year-earlier quarter.@@@@1@22@@oe@2-2-2013
22083008@unknown@formal@none@1@S@Third-quarter operating profit of the specialty-chemicals group declined slightly to $24.3 million from $24.9 million.@@@@1@15@@oe@2-2-2013
22083009@unknown@formal@none@1@S@But operating profit from aerospace products rose nearly 50% to $15 million from $10.1 million.@@@@1@15@@oe@2-2-2013
22083010@unknown@formal@none@1@S@In New York Stock Exchange composite trading, shares of the Akron, Ohio-based company fell $1.375 to $49.125.@@@@1@17@@oe@2-2-2013
22084001@unknown@formal@none@1@S@Fiat S.p.A., Italy's leading industrial group, is conducting "concrete" talks with West Germany's Daimler-Benz AG on a series of projects in the aerospace sector, Fiat officials said.@@@@1@27@@oe@2-2-2013
22084002@unknown@formal@none@1@S@However, the officials said it was too early to disclose the nature of the proposed projects or indicate when the talks might be concluded.@@@@1@24@@oe@2-2-2013
22084003@unknown@formal@none@1@S@Daimler-Benz Chairman Edzard Reuter told Milan's financial daily Il Sole 24 Ore that talks are taking place between both companies' aerospace units.@@@@1@22@@oe@2-2-2013
22084004@unknown@formal@none@1@S@"While Mr. Reuter's comments please us very much, there currently are no talks in progress regarding the automotive industry," a Fiat spokeswoman said.@@@@1@23@@oe@2-2-2013
22084005@unknown@formal@none@1@S@In the interview, Mr. Reuter said he is thinking foremost of cooperation in the truck sector, but "in the long run, I don't want to rule out that we can also come a bit closer in personal cars."@@@@1@38@@oe@2-2-2013
22084006@unknown@formal@none@1@S@Roberto Morelli, Italy analyst for County Natwest Securities in London, said that right now "the market isn't being influenced by that kind of news," referring to the conditional nature of the talks mentioned by Mr. Reuter and by the uncertainty surrounding world stock exchanges this week.@@@@1@46@@oe@2-2-2013
22085001@unknown@formal@none@1@S@Paul Tanner was named president, chief executive officer and chairman of this oil and natural gas company.@@@@1@17@@oe@2-2-2013
22085002@unknown@formal@none@1@S@He succeeds John A. Boudreau, who resigned for personal reasons.@@@@1@10@@oe@2-2-2013
22085003@unknown@formal@none@1@S@Mr. Tanner had been president of Penn Pacific's National Southwest Capital Group subsidiary.@@@@1@13@@oe@2-2-2013
22085004@unknown@formal@none@1@S@Mr. Boudreau will remain with Penn Pacific as a director and a member of the executive committee.@@@@1@17@@oe@2-2-2013
22085005@unknown@formal@none@1@S@He has also agreed to become president of a new subsidiary to be formed to make future acquisitions, the company said.@@@@1@21@@oe@2-2-2013
22086001@unknown@formal@none@1@S@Spooked investors, despite their stampede to dump takeover stocks, should hold on tight to their Jaguar shares.@@@@1@17@@oe@2-2-2013
22086002@unknown@formal@none@1@S@That's the view of some analysts here who argue that Britain's leading maker of luxury cars still may have two U.S. auto giants battling for it.@@@@1@26@@oe@2-2-2013
22086003@unknown@formal@none@1@S@Yesterday, Ford Motor disclosed that it has raised its holding in Jaguar to 10.4% from 5%.@@@@1@16@@oe@2-2-2013
22086004@unknown@formal@none@1@S@Both Ford and its rival General Motors recently set their sights on grabbing significant minority stakes in the British company.@@@@1@20@@oe@2-2-2013
22086005@unknown@formal@none@1@S@Ford's latest move increases the pressure on GM to complete its current talks with Jaguar quickly.@@@@1@16@@oe@2-2-2013
22086006@unknown@formal@none@1@S@GM is likely to reach the cooperative operating pact it has been seeking in about two weeks, knowledgeable individuals say.@@@@1@20@@oe@2-2-2013
22086007@unknown@formal@none@1@S@At that point investors may face a long, bumpy ride.@@@@1@10@@oe@2-2-2013
22086008@unknown@formal@none@1@S@A victor in the fight for Jaguar may not emerge until after the expiration late next year of British government takeover restrictions.@@@@1@22@@oe@2-2-2013
22086009@unknown@formal@none@1@S@The curbs prevent a buyer from purchasing more than 15% of Jaguar shares without permission.@@@@1@15@@oe@2-2-2013
22086010@unknown@formal@none@1@S@"This is an exceptionally odd takeover battle," says London analyst Christopher Will of Shearson Lehman Hutton.@@@@1@16@@oe@2-2-2013
22086011@unknown@formal@none@1@S@Jaguar's American depositary receipts were up 3/8 yesterday in a down market, closing at 10 3/8.@@@@1@16@@oe@2-2-2013
22086012@unknown@formal@none@1@S@(Jaguar's ADRs make the company one of the most widely held United Kingdom stocks in the U.S., with more than one-fourth of its shares owned there.)@@@@1@26@@oe@2-2-2013
22086013@unknown@formal@none@1@S@Jaguar topped the most-active list for the U.S. over-the-counter market Monday.@@@@1@11@@oe@2-2-2013
22086014@unknown@formal@none@1@S@And on London's Stock Exchange Monday, 18.5 million shares were traded, far above the usual volume.@@@@1@16@@oe@2-2-2013
22086015@unknown@formal@none@1@S@Ford's share purchases undoubtedly accounted for much of Monday's heavy trading.@@@@1@11@@oe@2-2-2013
22086016@unknown@formal@none@1@S@Last week, many Jaguar shareholders took their money and ran.@@@@1@10@@oe@2-2-2013
22086017@unknown@formal@none@1@S@Fears that Ford's ardor might be cooling put Jaguar shares into reverse after GM confirmed its friendly negotiations with Jaguar.@@@@1@20@@oe@2-2-2013
22086018@unknown@formal@none@1@S@But yesterday's announcement indicates that Ford hasn't lost interest.@@@@1@9@@oe@2-2-2013
22086019@unknown@formal@none@1@S@Both Shearson's Mr. Will and Stephen Reitman, European auto analyst at the London brokerage firm UBS-Phillips & Drew, recently switched their Jaguar recommendations to hold from buy.@@@@1@27@@oe@2-2-2013
22086020@unknown@formal@none@1@S@"Sit tight" through the coming volatility, Mr. Reitman suggests, though he concedes that many small investors will find Jaguar's zigzags "too hard to swallow."@@@@1@24@@oe@2-2-2013
22086021@unknown@formal@none@1@S@But a crucial point is how Ford reacts when GM, the world's largest auto maker, firms up its proposed deal with Jaguar.@@@@1@22@@oe@2-2-2013
22086022@unknown@formal@none@1@S@At the moment, Ford executives will say little beyond reiterating their desire to raise Ford's Jaguar stake to about 15%.@@@@1@20@@oe@2-2-2013
22086023@unknown@formal@none@1@S@GM is expected to inject roughly #200 million ($316 million) by acquiring some Jaguar shares, and then win Jaguar management's promise of an eventual 30% stake.@@@@1@26@@oe@2-2-2013
22086024@unknown@formal@none@1@S@Analysts believe the car makers also will create joint ventures to develop new executive models, doubling Jaguar's yearly output of 50,000 cars.@@@@1@22@@oe@2-2-2013
22086025@unknown@formal@none@1@S@Jaguar shareholders would have to bless such a far-reaching accord.@@@@1@10@@oe@2-2-2013
22086026@unknown@formal@none@1@S@Ford might challenge the proposal by offering a full bid if holders and the U.K. government agreed to drop the anti-takeover barrier early.@@@@1@23@@oe@2-2-2013
22086027@unknown@formal@none@1@S@"I think Ford is going to come out with full guns blazing," Mr. Reitman says.@@@@1@15@@oe@2-2-2013
22086028@unknown@formal@none@1@S@"Ford wants {Jaguar} very much."@@@@1@5@@oe@2-2-2013
22086029@unknown@formal@none@1@S@U.S. takeover-stock speculators, who may own between 20% and 30% of Jaguar, could give Ford enough votes to block the GM deal.@@@@1@22@@oe@2-2-2013
22086030@unknown@formal@none@1@S@GM might counterbid.@@@@1@3@@oe@2-2-2013
22086031@unknown@formal@none@1@S@Then, Mr. Will says, "you get a bidding war between two very rich, very determined international companies."@@@@1@17@@oe@2-2-2013
22086032@unknown@formal@none@1@S@He believes Jaguar's share price could zoom to between #8 and #10 ($12.60 to $15.80).@@@@1@15@@oe@2-2-2013
22086033@unknown@formal@none@1@S@"There's quite a bit of value left in the {Jaguar} shares here even though they have run up" lately, says Doug Johnson, a fund manager for Seattle-based Safeco Asset Management.@@@@1@30@@oe@2-2-2013
22086034@unknown@formal@none@1@S@At the moment, he intends to keep the firm's 180,000 Jaguar shares.@@@@1@12@@oe@2-2-2013
22086035@unknown@formal@none@1@S@The risk is that Jaguar's share price could slump if GM's agreement with Jaguar effectively locks out its U.S. rival.@@@@1@20@@oe@2-2-2013
22086036@unknown@formal@none@1@S@"Ford's appetite to attack {Jaguar} could gradually wane over time, particularly if Saab is a reasonably attractive proposition," says John Lawson, an auto analyst at London's Nomura Research Institute.@@@@1@29@@oe@2-2-2013
22086037@unknown@formal@none@1@S@He thinks Saab-Scania AB on Friday will announce the sale of 50% of its car division to Ford; the companies have been discussing closer cooperation for months.@@@@1@27@@oe@2-2-2013
22086038@unknown@formal@none@1@S@Clifford Stahl, president and chief investment officer of C-S Capital Advisors Inc., two weeks ago sold his Cincinnati firm's 107,100 Jaguar ADRs at about 10 each, making a tidy profit on a holding purchased at 4 7/8 in early May.@@@@1@40@@oe@2-2-2013
22086039@unknown@formal@none@1@S@"I thought the probabilities of {a bidding war} happening were less," he says.@@@@1@13@@oe@2-2-2013
22086040@unknown@formal@none@1@S@Of course, that was before Ford's latest move.@@@@1@8@@oe@2-2-2013
22086041@unknown@formal@none@1@S@Jaguar (OTC; Symbol: JAGRY)@@@@1@4@@oe@2-2-2013
22086042@unknown@formal@none@1@S@Business: Luxury cars@@@@1@3@@oe@2-2-2013
22086043@unknown@formal@none@1@S@Year ended Dec. 31, 1988:@@@@1@5@@oe@2-2-2013
22086044@unknown@formal@none@1@S@Revenue: $1.71 billion@@@@1@3@@oe@2-2-2013
22086045@unknown@formal@none@1@S@Net income: $44.9 million; or 25 cents a share@@@@1@9@@oe@2-2-2013
22086046@unknown@formal@none@1@S@First half ended, June 30, 1989:@@@@1@6@@oe@2-2-2013
22086047@unknown@formal@none@1@S@Net loss: $1.7 million vs. net income: $21.2 million; or 12 cents a share@@@@1@14@@oe@2-2-2013
22086048@unknown@formal@none@1@S@Averae daily trading volume: Ordinary shares outstanding: 182.9 million@@@@1@9@@oe@2-2-2013
22086049@unknown@formal@none@1@S@NOTE: All figures are translated into U.S. dollars based on current exchange rates.@@@@1@13@@oe@2-2-2013
22087001@unknown@formal@none@1@S@A.F. Sloan, 60 years old, announced that he will retire next April as chairman and chief executive officer of this snack food and bakery products maker.@@@@1@26@@oe@2-2-2013
22087002@unknown@formal@none@1@S@No replacement was immediately named.@@@@1@5@@oe@2-2-2013
22087003@unknown@formal@none@1@S@Mr. Sloan plans to remain on the board until his current term expires in April 1991, a Lance spokesman said.@@@@1@20@@oe@2-2-2013
22088001@unknown@formal@none@1@S@Newport Electronics Inc. of Santa Ana, Calif., said Milton B. Hollander, who holds a 49.4% stake, requested a special shareholders' meeting next Wednesday to remove four current directors and elect an alternative slate.@@@@1@33@@oe@2-2-2013
22088002@unknown@formal@none@1@S@Mr. Hollander's High Technology Holding Co. of Stamford, Conn., acquired most of its stake last August in an $11-a-share tender offer for Newport, a maker of electronic-measuring devices.@@@@1@28@@oe@2-2-2013
22088003@unknown@formal@none@1@S@Newport said Mr. Hollander is asking shareholders to retain only one director, James R. Lees, a Newport vice president.@@@@1@19@@oe@2-2-2013
22088004@unknown@formal@none@1@S@The board isn't proposing a slate of its own and the other four current directors don't want to serve beyond the special meeting date, Newport said.@@@@1@26@@oe@2-2-2013
22088005@unknown@formal@none@1@S@Mr. Hollander "is the new owner and wants to exercise control," said Barret B. Weekes, Newport's chairman.@@@@1@17@@oe@2-2-2013
22089001@unknown@formal@none@1@S@Sandoz AG, a major Swiss chemical and pharmaceutical group, said that its group sales rose 25% to 9.482 billion francs ($5.80 billion) in the first nine months of this year, with strong gains in all divisions.@@@@1@36@@oe@2-2-2013
22089002@unknown@formal@none@1@S@A year earlier sales totaled 7.567 billion francs.@@@@1@8@@oe@2-2-2013
22089003@unknown@formal@none@1@S@Positive currency rates and strong sales growth led to a substantial rise in consolidated profit in the period, although the company didn't provide figures, as is customary with Swiss companies.@@@@1@30@@oe@2-2-2013
22089004@unknown@formal@none@1@S@Sandoz said it expects a "substantial increase" in consolidated profit for the full year, barring major currency rate changes.@@@@1@19@@oe@2-2-2013
22090001@unknown@formal@none@1@S@Amstrad PLC, a British maker of computer hardware and communications equipment, posted a 52% plunge in pretax profit for the latest year.@@@@1@22@@oe@2-2-2013
22090002@unknown@formal@none@1@S@The #76.6 million ($120.6 million) in pretax profit for the 12 months to June 30 was down from #160 million ($252 million) a year earlier and below market expectations of #80 million and #90 million.@@@@1@35@@oe@2-2-2013
22090003@unknown@formal@none@1@S@The slump in profit, which came despite steady sales, was attributed to increased costs for parts and problems with model introductions.@@@@1@21@@oe@2-2-2013
22090004@unknown@formal@none@1@S@Amstrad's profit after taxes fell a similarly steep 51%, to #51.1 million from #105 million a year earlier.@@@@1@18@@oe@2-2-2013
22090005@unknown@formal@none@1@S@Sales edged up fractionally to #626.3 million from #625.4 million a year earlier.@@@@1@13@@oe@2-2-2013
22091001@unknown@formal@none@1@S@Microsoft Corp.'s earnings growth continued to outstrip that of most of its competitors and customers in the personal-computer industry, as it reported a 36% jump in fiscal first-quarter earnings on a 33% revenue gain.@@@@1@34@@oe@2-2-2013
22091002@unknown@formal@none@1@S@The Redmond, Wash. company, a bellwether provider of operating systems and software for personal-computer makers and users, reported net income for the quarter ended Sept. 30 of $49.6 million, or 87 cents a share, up from $36.6 million, or 65 cents a share, in the year-ago period.@@@@1@47@@oe@2-2-2013
22091003@unknown@formal@none@1@S@Revenue rose to $235.2 million, from $176.4 million.@@@@1@8@@oe@2-2-2013
22091004@unknown@formal@none@1@S@Microsoft previously indicated it would have a strong quarter by forecasting its revenue gain on Oct. 4, causing a $6.50 a share jump in its stock.@@@@1@26@@oe@2-2-2013
22091005@unknown@formal@none@1@S@But its stock jumped again yesterday as it disclosed surprisingly strong margins on those sales.@@@@1@15@@oe@2-2-2013
22091006@unknown@formal@none@1@S@Microsoft's stock rose $2.875 a share in national over-the-counter trading to $78.625.@@@@1@12@@oe@2-2-2013
22091007@unknown@formal@none@1@S@The stock had hit a high of $81 a share early last week but collapsed to $73.50 in the Friday stock plunge.@@@@1@22@@oe@2-2-2013
22091008@unknown@formal@none@1@S@The company had been experiencing softening margins because of increased sales of software applications, which have lower margins than do operating systems.@@@@1@22@@oe@2-2-2013
22091009@unknown@formal@none@1@S@But the company said that trend was offset in the first quarter by better economies of scale and efficiencies in manufacturing.@@@@1@21@@oe@2-2-2013
22091010@unknown@formal@none@1@S@As a result, Microsoft's cost of goods, as a percentage of sales, fell 17% from the year-ago quarter and 13% from the previous period.@@@@1@24@@oe@2-2-2013
22091011@unknown@formal@none@1@S@The trend drove up the aftertax margin -- net income as a percentage of revenues -- to 21.1% in the quarter, compared with 20.7% a year earlier.@@@@1@27@@oe@2-2-2013
22091012@unknown@formal@none@1@S@Microsoft officials said the strong results also reflected continuing high demand for its software applications and operating systems.@@@@1@18@@oe@2-2-2013
22091013@unknown@formal@none@1@S@While it has predicted that overall growth in unit sales of personal computers is slowing to about a 10% yearly rate, its own products are selling at a much faster rate because many are geared to the high-performance end of the market.@@@@1@42@@oe@2-2-2013
22091014@unknown@formal@none@1@S@That segment continues to post strong quarter-to-quarter gains, while the low-end, or commodity segment, of the industry is experiencing sluggish growth or even sales declines.@@@@1@25@@oe@2-2-2013
22091015@unknown@formal@none@1@S@Compared with its previous quarter, the final period of its 1989 fiscal year, net rose 9%, and sales rose 7%.@@@@1@20@@oe@2-2-2013
22092001@unknown@formal@none@1@S@Control Data Corp., Minneapolis, signed a joint development agreement with MIPS Computer Systems Inc. to incorporate an emerging computing architecture in future machines.@@@@1@23@@oe@2-2-2013
22092002@unknown@formal@none@1@S@MIPS is a leader in what is known as reduced-instruction set computing, or RISC, a technology combining microprocessors and sophisticated software.@@@@1@21@@oe@2-2-2013
22092003@unknown@formal@none@1@S@In joining MIPS, Control Data follows several competitors in embracing RISC as a new design approach.@@@@1@16@@oe@2-2-2013
22092004@unknown@formal@none@1@S@Digital Equipment Corp., Tandem Computers Inc., NEC Corp. and Group Bull, among others, have similar arrangements with MIPs, based in Sunnyvale, Calif.@@@@1@22@@oe@2-2-2013
22092005@unknown@formal@none@1@S@Control Data said it expects its first RISC-based mainframe machine to be introduced next year.@@@@1@15@@oe@2-2-2013
22092006@unknown@formal@none@1@S@The accord with MIPS calls for Control Data to share its expertise in data storage, the companies said.@@@@1@18@@oe@2-2-2013
22092007@unknown@formal@none@1@S@Control Data also said it is developing what it called a "supermainframe" computer, the Cyber 2000, intended for scientists, engineers and other users of generalpurpose high-performance computers.@@@@1@27@@oe@2-2-2013
22093001@unknown@formal@none@1@S@UAL'S STOCK SKIDDED an additional $24.875, to $198, as British Airways indicated it may balk at any hastily revised version of the aborted $6.79 billion buy-out of United Air's parent.@@@@1@30@@oe@2-2-2013
22093002@unknown@formal@none@1@S@UAL has fallen $87.25, or 31%, in the three trading days since disclosure of the buy-out's collapse jolted the stock market.@@@@1@21@@oe@2-2-2013
22093003@unknown@formal@none@1@S@Meanwhile, investor Marvin Davis said he remains interested in UAL, but he dropped his earlier $300-a-share back-up bid.@@@@1@18@@oe@2-2-2013
22093004@unknown@formal@none@1@S@Stock prices fell broadly in heavy trading, dominated by futures-related program selling and further declines by UAL and other airline stocks.@@@@1@21@@oe@2-2-2013
22093005@unknown@formal@none@1@S@The Dow Jones industrials closed off 18.65 points, at 2638.73, after plunging over 60.25 points in the morning.@@@@1@18@@oe@2-2-2013
22093006@unknown@formal@none@1@S@Bond prices ended lower after an early rally, while the dollar was mixed.@@@@1@13@@oe@2-2-2013
22093007@unknown@formal@none@1@S@The U.S. trade deficit swelled to $10.77 billion in August, prompting worries that the nation's export drive had stalled.@@@@1@19@@oe@2-2-2013
22093008@unknown@formal@none@1@S@Exports declined for the second month in a row, while imports rose to a record.@@@@1@15@@oe@2-2-2013
22093009@unknown@formal@none@1@S@An analyst called it one of the worst trade reports since the dollar bottomed out in@@@@1@16@@oe@2-2-2013
22093010@unknown@formal@none@1@S@Industrial output fell 0.1% in September, the latest sign manufacturing is slowing.@@@@1@12@@oe@2-2-2013
22093011@unknown@formal@none@1@S@An analyst cited weaker capital spending and exports.@@@@1@8@@oe@2-2-2013
22093012@unknown@formal@none@1@S@Bankers Trust added $1.6 billion to reserves for Third World loans, the latest big bank to take such a step.@@@@1@20@@oe@2-2-2013
22093013@unknown@formal@none@1@S@It expects a $1.42 billion quarterly loss.@@@@1@7@@oe@2-2-2013
22093014@unknown@formal@none@1@S@Citicorp posted a 9% drop in quarterly profit.@@@@1@8@@oe@2-2-2013
22093015@unknown@formal@none@1@S@Manufacturers Hanover had a loss due to a big reserve addition.@@@@1@11@@oe@2-2-2013
22093016@unknown@formal@none@1@S@Bank of New England plans to sell some operations and lay off 4% of its work force after a year of weak earnings and mounting loan problems.@@@@1@27@@oe@2-2-2013
22093017@unknown@formal@none@1@S@Eastern Airlines' creditors have begun exploring alternative approaches to a Chapter 11 reorganization because they are unhappy with the carrier's latest proposal.@@@@1@22@@oe@2-2-2013
22093018@unknown@formal@none@1@S@Tele-Communications agreed to buy half of Showtime Networks from Viacom for $225 million.@@@@1@13@@oe@2-2-2013
22093019@unknown@formal@none@1@S@The move could pose a new challenge to Time Warner's Home Box Office.@@@@1@13@@oe@2-2-2013
22093020@unknown@formal@none@1@S@The CFTC plans to curb dual trading on commodities markets, in which traders buy and sell both for their own account and for clients.@@@@1@24@@oe@2-2-2013
22093021@unknown@formal@none@1@S@The move is likely to anger traders.@@@@1@7@@oe@2-2-2013
22093022@unknown@formal@none@1@S@FDIC Chairman Seidman said that Lincoln Savings & Loan of California should have been seized in 1986 to contain losses he estimated will cost taxpayers as much as $2 billion.@@@@1@30@@oe@2-2-2013
22093023@unknown@formal@none@1@S@A $67 billion spending bill was approved by House-Senate conferees that includes major provisions affecting the federal mortgage market.@@@@1@19@@oe@2-2-2013
22093024@unknown@formal@none@1@S@Hooker's U.S. unit is expected to agree in principle this week to sell its Merksamer Jewelers chain to management, according to executives.@@@@1@22@@oe@2-2-2013
22093025@unknown@formal@none@1@S@The deficit-reduction bill became snagged over efforts to streamline the House version of the legislation in advance of a House-Senate conference.@@@@1@21@@oe@2-2-2013
22093026@unknown@formal@none@1@S@Integrated Resources said talks have ended with another potential buyer of its core businesses.@@@@1@14@@oe@2-2-2013
22093027@unknown@formal@none@1@S@Three big drug makers posted robust third-quarter earnings.@@@@1@8@@oe@2-2-2013
22093028@unknown@formal@none@1@S@Merck's profit climbed 25%, Warner-Lambert's 22% and Eli Lilly's 24%.@@@@1@10@@oe@2-2-2013
22093029@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
22093030@unknown@formal@none@1@S@Stocks: Volume 224,070,000 shares.@@@@1@4@@oe@2-2-2013
22093031@unknown@formal@none@1@S@Dow Jones industrials 2638.73, off 18.65; transportation 1254.27, off 49.96; utilities 214.54, off 0.19.@@@@1@14@@oe@2-2-2013
22093032@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3377.43, off@@@@1@8@@oe@2-2-2013
22093033@unknown@formal@none@1@S@Commodities: Dow Jones futures index 129.72, unchanged; spot index 129.97, off 0.19.@@@@1@12@@oe@2-2-2013
22093034@unknown@formal@none@1@S@Dollar: 142.75 yen, up 0.95; 1.8667 marks, off 0.0018.@@@@1@9@@oe@2-2-2013
22094001@unknown@formal@none@1@S@Paul Ely, general partner of Alpha Partners, a venture-capital firm based in Menlo Park, Calif., was named a director of this computer company.@@@@1@23@@oe@2-2-2013
22094002@unknown@formal@none@1@S@Mr. Ely, 57 years old, temporarily increases the board to seven members.@@@@1@12@@oe@2-2-2013
22094003@unknown@formal@none@1@S@However, director Thomas O'Rourke has said he won't seek re-election at the company's annual meeting next month.@@@@1@17@@oe@2-2-2013
22095001@unknown@formal@none@1@S@BroadBeach Associates Inc., the Los Angeles investment partnership whose $62-a-share bid for McGill Manufacturing Co. was topped recently by a competing offer from a Swedish concern, disclosed that it sold its entire 7% McGill stake.@@@@1@35@@oe@2-2-2013
22095002@unknown@formal@none@1@S@McGill, a Valparaiso, Ind., ball-bearing manufacturer, had rebuffed BroadBeach's proposal.@@@@1@10@@oe@2-2-2013
22095003@unknown@formal@none@1@S@It has since asked holders not to immediately tender their shares under a recent $72-a-share, or $104 million, bid from AB SKF of Sweden, until McGill directors have completed their evaluation.@@@@1@31@@oe@2-2-2013
22095004@unknown@formal@none@1@S@In a Securities and Exchange Commission filing, BroadBeach said it sold the 101,000 McGill shares for $7.3 million in a private transaction on Oct. 12.@@@@1@25@@oe@2-2-2013
22095005@unknown@formal@none@1@S@BroadBeach didn't identify the buyer of the shares, but the date of the selloff followed by one day the Swedish concern's tender offer, and the indicated price of the shares sold equals SKF's $72-a-share tender offer price.@@@@1@37@@oe@2-2-2013
22095006@unknown@formal@none@1@S@A BroadBeach spokeswoman said the company sold the stock in the open market and thus couldn't identify the buyer or buyers.@@@@1@21@@oe@2-2-2013
22096001@unknown@formal@none@1@S@Luis Nogales, 45 years old, has been elected to the board of this brewer.@@@@1@14@@oe@2-2-2013
22096002@unknown@formal@none@1@S@Mr. Nogales, former president of United Press International and the Univision Spanish-language network, most recently co-founded Nogales Castro Partners, a California-based media acquisition firm.@@@@1@24@@oe@2-2-2013
22096003@unknown@formal@none@1@S@Mr. Nogales, the first Hispanic person to serve as a Coors director, is an addition to the board, increasing its membership to nine.@@@@1@23@@oe@2-2-2013
22097001@unknown@formal@none@1@S@Hachette S.A., a European media and publishing group, reported a small rise in its attributable first-half group profit, excluding exceptional items, to 133.8 million francs ($21.1 million) from 130.1 million francs a year earlier.@@@@1@34@@oe@2-2-2013
22097002@unknown@formal@none@1@S@The Paris-based group said its earlier projection -- that group profit for all of 1989 would be close to the 322.7 million francs posted for 1988 -- remains valid.@@@@1@29@@oe@2-2-2013
22097003@unknown@formal@none@1@S@Taking into account nonrecurring gains and losses, Hachette's group net income for the first six months of this year totaled 246.6 million francs, practically double the year-earlier figure of 124.5 million francs.@@@@1@32@@oe@2-2-2013
22097004@unknown@formal@none@1@S@Analysts said Hachette's earnings in the second half might be boosted by a capital gain from the sale of the Paris headquarters of a newspaper-delivery company that is 49% owned by Hachette.@@@@1@32@@oe@2-2-2013
22098001@unknown@formal@none@1@S@Oncor Inc., Gaithersburg, Md., said it received approval from the U.S. Food and Drug Administration to market a genetic test that will assist in diagnosis and treatment of leukemia and lymph cancer.@@@@1@32@@oe@2-2-2013
22098002@unknown@formal@none@1@S@The B/T gene rearrangement test is more accurate than existing tests for diagnosing the type of cancer, whether it has spread or whether there is a recurrence following treatment, said Oncor President Stephen Turner.@@@@1@34@@oe@2-2-2013
22098003@unknown@formal@none@1@S@Mr. Turner said the test initially will be used in conjunction with biopsies and other tests, but eventually might become the benchmark for tumor analysis.@@@@1@25@@oe@2-2-2013
22098004@unknown@formal@none@1@S@Mr. Turner said the test will be shipped in 45 days to hospitals and clinical laboratories.@@@@1@16@@oe@2-2-2013
22098005@unknown@formal@none@1@S@Dr. Wyndham Wilson, a cancer treatment specialist at the National Cancer Institute, said the test is widely used in research centers but isn't having a major impact because it is only occasionally useful in choosing the most effective treatment.@@@@1@39@@oe@2-2-2013
22098006@unknown@formal@none@1@S@But the test may prove to be more sensitive in determining whether a tumor has spread or returned following treatment, Dr. Wilson said.@@@@1@23@@oe@2-2-2013
22098007@unknown@formal@none@1@S@"We don't know yet how useful it's going to be," he said.@@@@1@12@@oe@2-2-2013
22098008@unknown@formal@none@1@S@Oncor, a six-year-old developer of genetic medical tests, projects that the cancer test will help it to post its first-ever profit during the first quarter of 1990, Mr. Turner said.@@@@1@30@@oe@2-2-2013
22098009@unknown@formal@none@1@S@The company will charge $35 for a test and projects about $2 million in revenue from the test during the first 12 months of marketing, he said.@@@@1@27@@oe@2-2-2013
22099001@unknown@formal@none@1@S@Unilab Corp., Norcross, Ga., said it acquired the clinical laboratories of closely held Central Diagnostic Laboratory Inc. in a cash and securities transaction valued at $85 million.@@@@1@27@@oe@2-2-2013
22099002@unknown@formal@none@1@S@Unilab said its wholly owned MetWest Inc. unit paid $25 million in cash, provided $30 million in notes and $30 million in preferred stock to acquire Central's labs in the Western U.S.@@@@1@32@@oe@2-2-2013
22099003@unknown@formal@none@1@S@Unilab, which provides clinical laboratory services, competed with Central, based in Tarzana, Calif., in a number of areas.@@@@1@18@@oe@2-2-2013
22099004@unknown@formal@none@1@S@Beyond removing a competitor, the combination should provide "synergies," said Fred Harlow, Unilab's chief financial officer.@@@@1@16@@oe@2-2-2013
22099005@unknown@formal@none@1@S@It also will hand Unilab new markets.@@@@1@7@@oe@2-2-2013
22099006@unknown@formal@none@1@S@In Los Angeles, for example, Central has had a strong market position while Unilab's presence has been less prominent, according to Mr. Harlow.@@@@1@23@@oe@2-2-2013
22100001@unknown@formal@none@1@S@Consumers may want to move their telephones a little closer to the TV set.@@@@1@14@@oe@2-2-2013
22100002@unknown@formal@none@1@S@Couch-potato jocks watching ABC's "Monday Night Football" can now vote during halftime for the greatest play in 20 years from among four or five filmed replays.@@@@1@26@@oe@2-2-2013
22100003@unknown@formal@none@1@S@Two weeks ago, viewers of several NBC daytime consumer segments started calling a 900 number for advice on various life-style issues.@@@@1@21@@oe@2-2-2013
22100004@unknown@formal@none@1@S@And the new syndicated "reality" show "Hard Copy" records viewers' opinions for possible airing on the next day's show.@@@@1@19@@oe@2-2-2013
22100005@unknown@formal@none@1@S@Interactive telephone technology has taken a new leap in sophistication, and television programmers are racing to exploit the possibilities.@@@@1@19@@oe@2-2-2013
22100006@unknown@formal@none@1@S@Eventually viewers may grow bored with the technology and resent the cost.@@@@1@12@@oe@2-2-2013
22100007@unknown@formal@none@1@S@But right now programmers are figuring that viewers who are busy dialing up a range of services may put down their remote control zappers and stay tuned.@@@@1@27@@oe@2-2-2013
22100008@unknown@formal@none@1@S@"We've been spending a lot of time in Los Angeles talking to TV production people," says Mike Parks, president of Call Interactive, which supplied technology for both ABC Sports and NBC's consumer minutes.@@@@1@33@@oe@2-2-2013
22100009@unknown@formal@none@1@S@"With the competitiveness of the television market these days, everyone is looking for a way to get viewers more excited."@@@@1@20@@oe@2-2-2013
22100010@unknown@formal@none@1@S@One of the leaders behind the expanded use of 900 numbers is Call Interactive, a joint venture of giants American Express Co. and American Telephone & Telegraph Co.@@@@1@28@@oe@2-2-2013
22100011@unknown@formal@none@1@S@Formed in August, the venture weds AT&T's newly expanded 900 service with 200 voice-activated computers in American Express's Omaha, Neb., service center.@@@@1@22@@oe@2-2-2013
22100012@unknown@formal@none@1@S@Other long-distance carriers have also begun marketing enhanced 900 service, and special consultants are springing up to exploit the new tool.@@@@1@21@@oe@2-2-2013
22100013@unknown@formal@none@1@S@Blair Entertainment, a New York firm that advises TV stations and sells ads for them, has just formed a subsidiary -- 900 Blair -- to apply the technology to television.@@@@1@30@@oe@2-2-2013
22100014@unknown@formal@none@1@S@The use of 900 toll numbers has been expanding rapidly in recent years.@@@@1@13@@oe@2-2-2013
22100015@unknown@formal@none@1@S@For a while, high-cost pornography lines and services that tempt children to dial (and redial) movie or music information earned the service a somewhat sleazy image, but new legal restrictions are aimed at trimming excesses.@@@@1@35@@oe@2-2-2013
22100016@unknown@formal@none@1@S@The cost of a 900 call is set by the originator -- ABC Sports, for example -- with the cheapest starting at 75 cents.@@@@1@24@@oe@2-2-2013
22100017@unknown@formal@none@1@S@Billing is included in a caller's regular phone bill.@@@@1@9@@oe@2-2-2013
22100018@unknown@formal@none@1@S@From the fee, the local phone company and the long-distance carrier extract their costs to carry the call, passing the rest of the money to the originator, which must cover advertising and other costs.@@@@1@34@@oe@2-2-2013
22100019@unknown@formal@none@1@S@In recent months, the technology has become more flexible and able to handle much more volume.@@@@1@16@@oe@2-2-2013
22100020@unknown@formal@none@1@S@Before, callers of 900 numbers would just listen and not talk, or they'd vote "yes" or "no" by calling one of two numbers.@@@@1@23@@oe@2-2-2013
22100021@unknown@formal@none@1@S@(People in the phone business call this technology "900 click.")@@@@1@10@@oe@2-2-2013
22100022@unknown@formal@none@1@S@Now, callers are led through complex menus of choices to retrieve information they want, and the hardware can process 10,000 calls in 90 seconds.@@@@1@24@@oe@2-2-2013
22100023@unknown@formal@none@1@S@Up to now, 900 numbers have mainly been used on local TV stations and cable channels.@@@@1@16@@oe@2-2-2013
22100024@unknown@formal@none@1@S@MTV used one to give away the house that rock star Jon Bon Jovi grew up in.@@@@1@17@@oe@2-2-2013
22100025@unknown@formal@none@1@S@For several years, Turner Broadcasting System's Cable News Network has invited viewers to respond nightly to topical issues ("Should the U.S. military intervene in Panama?"), but even the hottest controversies on CNN log only about 10,000 calls.@@@@1@37@@oe@2-2-2013
22100026@unknown@formal@none@1@S@The newest uses of the 900-interactive technology demonstrate the growing variety of applications.@@@@1@13@@oe@2-2-2013
22100027@unknown@formal@none@1@S@Capital Cities/ABC Inc., CBS Inc. and General Electric Co.'s National Broadcasting Co. unit are expected to announce soon a joint campaign to raise awareness about hunger.@@@@1@26@@oe@2-2-2013
22100028@unknown@formal@none@1@S@The subject will be written into the plots of prime-time shows, and viewers will be given a 900 number to call.@@@@1@21@@oe@2-2-2013
22100029@unknown@formal@none@1@S@Callers will be sent educational booklets, and the call's modest cost will be an immediate method of raising money.@@@@1@19@@oe@2-2-2013
22100030@unknown@formal@none@1@S@Other network applications have very different goals.@@@@1@7@@oe@2-2-2013
22100031@unknown@formal@none@1@S@ABC Sports was looking for ways to lift deflated halftime ratings for "Monday Night Football."@@@@1@15@@oe@2-2-2013
22100032@unknown@formal@none@1@S@Kurt Sanger, ABC Sports's marketing director, says that now "tens of thousands" of fans call its 900 number each week to vote for the best punt return, quarterback sack, etc.@@@@1@30@@oe@2-2-2013
22100033@unknown@formal@none@1@S@Profit from the calls goes to charity, but ABC Sports also uses the calls as a sales tool: After thanking callers for voting, Frank Gifford offers a football videotape for $19.95, and 5% of callers stay on the line to order it.@@@@1@42@@oe@2-2-2013
22100034@unknown@formal@none@1@S@Jackets may be sold next.@@@@1@5@@oe@2-2-2013
22100035@unknown@formal@none@1@S@Meanwhile, NBC Sports recently began "Scores Plus," a year-round, 24-hour 900 line providing a complex array of scores, analysis and fan news.@@@@1@22@@oe@2-2-2013
22100036@unknown@formal@none@1@S@A spokesman said its purpose is "to bolster the impression that NBC Sports is always there for people."@@@@1@18@@oe@2-2-2013
22100037@unknown@formal@none@1@S@NBC's "On-Line" consumer minutes have increased advertiser spending during the day, the network's weakest period.@@@@1@15@@oe@2-2-2013
22100038@unknown@formal@none@1@S@Each weekday matches a sponsor and a topic: On Mondays, Unilever N.V.'s Lever Bros. sponsors tips on diet and exercise, followed by a 30-second Lever Bros. commercial.@@@@1@27@@oe@2-2-2013
22100039@unknown@formal@none@1@S@Viewers can call a 900 number for additional advice, which will be tailored to their needs based on the numbers they punch ("Press one if you're pregnant," etc.).@@@@1@28@@oe@2-2-2013
22100040@unknown@formal@none@1@S@If the caller stays on the line and leaves a name and address for the sponsor, coupons and a newsletter will be mailed, and the sponsor will be able to gather a list of desirable potential customers.@@@@1@37@@oe@2-2-2013
22100041@unknown@formal@none@1@S@Diane Seaman, an NBC-TV vice president, says NBC has been able to charge premium rates for this ad time.@@@@1@19@@oe@2-2-2013
22100042@unknown@formal@none@1@S@She wouldn't say what the premium is, but it's believed to be about 40% above regular daytime rates.@@@@1@18@@oe@2-2-2013
22100043@unknown@formal@none@1@S@"We were able to get advertisers to use their promotion budget for this, because they get a chance to do couponing," says Ms. Seaman.@@@@1@24@@oe@2-2-2013
22100044@unknown@formal@none@1@S@"And we were able to attract some new advertisers because this is something new."@@@@1@14@@oe@2-2-2013
22100045@unknown@formal@none@1@S@Mr. Parks of Call Interactive says TV executives are considering the use of 900 numbers for "talk shows, game shows, news and opinion surveys."@@@@1@24@@oe@2-2-2013
22100046@unknown@formal@none@1@S@Experts are predicting a big influx of new shows in 1990, when a service called "automatic number information" will become widely available.@@@@1@22@@oe@2-2-2013
22100047@unknown@formal@none@1@S@This service identifies each caller's phone number, and it can be used to generate instant mailing lists.@@@@1@17@@oe@2-2-2013
22100048@unknown@formal@none@1@S@"Hard Copy," the new syndicated tabloid show from Paramount Pictures, will use its 900 number for additional purposes that include research, says executive producer Mark B. von S. Monsky.@@@@1@29@@oe@2-2-2013
22100049@unknown@formal@none@1@S@"For a piece on local heroes of World War II, we can ask people to leave the name and number of anyone they know who won a medal," he says.@@@@1@30@@oe@2-2-2013
22100050@unknown@formal@none@1@S@"That'll save us time and get people involved."@@@@1@8@@oe@2-2-2013
22100051@unknown@formal@none@1@S@But Mr. Monsky sees much bigger changes ahead.@@@@1@8@@oe@2-2-2013
22100052@unknown@formal@none@1@S@"These are just baby steps toward real interactive video, which I believe will be the biggest thing yet to affect television," he says.@@@@1@23@@oe@2-2-2013
22100053@unknown@formal@none@1@S@Although it would be costly to shoot multiple versions, TV programmers could let audiences vote on different endings for a movie.@@@@1@21@@oe@2-2-2013
22100054@unknown@formal@none@1@S@Fox Broadcasting experimented with this concept last year when viewers of "Married . . . With Children" voted on whether Al should say "I love you" to Peg on Valentine's Day.@@@@1@31@@oe@2-2-2013
22100055@unknown@formal@none@1@S@Someday, viewers may also choose different depths of news coverage.@@@@1@10@@oe@2-2-2013
22100056@unknown@formal@none@1@S@"A menu by phone could let you decide, `I'm interested in just the beginning of story No. 1, and I want story No. 2 in depth," Mr. Monsky says.@@@@1@29@@oe@2-2-2013
22100057@unknown@formal@none@1@S@"You'll start to see shows where viewers program the program.@@@@1@10@@oe@2-2-2013
22101001@unknown@formal@none@1@S@Integrated Resources Inc., the troubled financial-services company that has been trying to sell its core companies to restructure debt, said talks with a potential buyer ended.@@@@1@26@@oe@2-2-2013
22101002@unknown@formal@none@1@S@Integrated didn't identify the party or say why the talks failed.@@@@1@11@@oe@2-2-2013
22101003@unknown@formal@none@1@S@Last week another potential buyer, Whitehall Financial Group -- which had agreed in August to purchase most of Integrated's core companies for $310 million -- ended talks with Integrated.@@@@1@29@@oe@2-2-2013
22101004@unknown@formal@none@1@S@Integrated said that it would continue to pursue "other alternatives" to sell the five core companies and that a group of senior executives plans to make a proposal to purchase three of the companies -- Integrated Resources Equity Corp., Resources Trust Co. and Integrated Resources Asset Management Corp.@@@@1@48@@oe@2-2-2013
22101005@unknown@formal@none@1@S@A price wasn't disclosed.@@@@1@4@@oe@2-2-2013
22101006@unknown@formal@none@1@S@Integrated also said it expects to report a second-quarter loss wider than the earlier estimate of about $600 million.@@@@1@19@@oe@2-2-2013
22101007@unknown@formal@none@1@S@The company didn't disclose the new estimate but said the change was related to Integrated's failure to sell its core businesses, as well as "other events," which it didn't detail, that occurred after its announcement last week that it was in talks with the unidentified prospective buyer.@@@@1@47@@oe@2-2-2013
22101008@unknown@formal@none@1@S@Meanwhile, a number of top sales producers from Integrated Resources Equity will meet this afternoon in Chicago to discuss their options.@@@@1@21@@oe@2-2-2013
22101009@unknown@formal@none@1@S@The unit is a loosely constructed group of about 3,900 independent brokers and financial planners who sell insurance, annuities, limited partnerships, mutual funds and other investments for Integrated and other firms.@@@@1@31@@oe@2-2-2013
22101010@unknown@formal@none@1@S@The sales force is viewed as a critical asset in Integrated's attempt to sell its core companies.@@@@1@17@@oe@2-2-2013
22101011@unknown@formal@none@1@S@Whitehall cited concerns about how long Integrated would be able to hold together the sales force as one reason its talks with Integrated failed.@@@@1@24@@oe@2-2-2013
22101012@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange yesterday, Integrated closed at $1.25 a share, down 25 cents.@@@@1@19@@oe@2-2-2013
22101013@unknown@formal@none@1@S@Integrated has been struggling to avoid a bankruptcy-law filing since June, when it failed to make interest payments on nearly $1 billion of debt.@@@@1@24@@oe@2-2-2013
22101014@unknown@formal@none@1@S@Integrated senior and junior creditors are owed a total of about $1.8 billion.@@@@1@13@@oe@2-2-2013
22102001@unknown@formal@none@1@S@AN EARTHQUAKE STRUCK Northern California, killing more than 50 people.@@@@1@10@@oe@2-2-2013
22102002@unknown@formal@none@1@S@The violent temblor, which lasted about 15 seconds and registered 6.9 on the Richter scale, also caused the collapse of a 30-foot section of the San Francisco-Oakland Bay Bridge and shook Candlestick Park.@@@@1@33@@oe@2-2-2013
22102003@unknown@formal@none@1@S@The tremor was centered near Hollister, southeast of San Francisco, and was felt as far as 200 miles away.@@@@1@19@@oe@2-2-2013
22102004@unknown@formal@none@1@S@Numerous injuries were reported.@@@@1@4@@oe@2-2-2013
22102005@unknown@formal@none@1@S@Some buildings collapsed, gas and water lines ruptured and fires raged.@@@@1@11@@oe@2-2-2013
22102006@unknown@formal@none@1@S@The quake, which also caused damage in San Jose and Berkeley, knocked out electricity and telephones, cracked roadways and disrupted subway service in the Bay Area.@@@@1@26@@oe@2-2-2013
22102007@unknown@formal@none@1@S@Major injuries weren't reported at Candlestick Park, where the third game of baseball's World Series was canceled and fans evacuated from the stadium.@@@@1@23@@oe@2-2-2013
22102008@unknown@formal@none@1@S@Bush vowed to veto a bill allowing federal financing for abortions in cases of rape and incest, saying tax dollars shouldn't be used to "compound a violent act with the taking of an unborn life."@@@@1@35@@oe@2-2-2013
22102009@unknown@formal@none@1@S@His pledge, in a letter to Democratic Sen. Byrd, came ahead of an expected Senate vote on spending legislation containing the provision.@@@@1@22@@oe@2-2-2013
22102010@unknown@formal@none@1@S@East Germany's Politburo met amid speculation that the ruling body would oust hard-line leader Honecker, whose rule has been challenged by mass emigration and calls for democratic freedoms.@@@@1@28@@oe@2-2-2013
22102011@unknown@formal@none@1@S@Meanwhile, about 125 refugees flew to Duesseldorf, West Germany, from Warsaw, the first airlift in East Germany's refugee exodus.@@@@1@19@@oe@2-2-2013
22102012@unknown@formal@none@1@S@The World Psychiatric Association voted at an Athens parley to conditionally readmit the Soviet Union.@@@@1@15@@oe@2-2-2013
22102013@unknown@formal@none@1@S@Moscow, which left the group in 1983 to avoid explusion over allegations that political dissidents were being certified as insane, could be suspended if the misuse of psychiatry against dissenters is discovered during a review within a year.@@@@1@38@@oe@2-2-2013
22102014@unknown@formal@none@1@S@NASA postponed the liftoff of the space shuttle Atlantis because of rain near the site of the launch pad in Cape Canaveral, Fla.@@@@1@23@@oe@2-2-2013
22102015@unknown@formal@none@1@S@The flight was rescheduled for today.@@@@1@6@@oe@2-2-2013
22102016@unknown@formal@none@1@S@The spacecraft's five astronauts are to dispatch the nuclear-powered Galileo space probe on an exploratory mission to Jupiter.@@@@1@18@@oe@2-2-2013
22102017@unknown@formal@none@1@S@Senate Democratic leaders said they had enough votes to defeat a proposed constitutional amendment to ban flag burning.@@@@1@18@@oe@2-2-2013
22102018@unknown@formal@none@1@S@The amendment is aimed at skirting a Supreme Court ruling that threw out the conviction of a Texas flag-burner on grounds that his freedom of speech was violated.@@@@1@28@@oe@2-2-2013
22102019@unknown@formal@none@1@S@Federal researchers said lung-cancer mortality rates for people under 45 years of age have begun to decline, particularly for white males.@@@@1@21@@oe@2-2-2013
22102020@unknown@formal@none@1@S@The National Cancer Institute also projected that overall U.S. mortality rates from lung cancer should begin to drop in several years if cigarette smoking continues to abate.@@@@1@27@@oe@2-2-2013
22102021@unknown@formal@none@1@S@Bush met with South Korean President Roh, who indicated that Seoul plans to further ease trade rules to ensure that its economy becomes as open as the other industrialized nations by the mid-1990s.@@@@1@33@@oe@2-2-2013
22102022@unknown@formal@none@1@S@Bush assured Roh that the U.S. would stand by its security commitments "as long as there is a threat" from Communist North Korea.@@@@1@23@@oe@2-2-2013
22102023@unknown@formal@none@1@S@The Bush administration is seeking an understanding with Congress to ease restrictions on U.S. involvement in foreign coups that might result in the death of a country's leader.@@@@1@28@@oe@2-2-2013
22102024@unknown@formal@none@1@S@A White House spokesman said that while Bush wouldn't alter a longstanding ban on such involvement, "there's a clarification needed" on its interpretation.@@@@1@23@@oe@2-2-2013
22102025@unknown@formal@none@1@S@India's Gandhi called for parliamentary elections next month.@@@@1@8@@oe@2-2-2013
22102026@unknown@formal@none@1@S@The balloting, considered a test for the prime minister and the ruling Congress (I) Party, comes amid charges of inept leadership and government corruption.@@@@1@24@@oe@2-2-2013
22102027@unknown@formal@none@1@S@Gandhi's family has ruled independent India for all but five years of its 42-year history.@@@@1@15@@oe@2-2-2013
22102028@unknown@formal@none@1@S@The Soviet Union abstained from a U.N. General Assembly vote to reject Israel's credentials.@@@@1@14@@oe@2-2-2013
22102029@unknown@formal@none@1@S@It was the first time in seven years that Moscow hasn't joined efforts, led by Moslem nations, to expel Israel from the world body, and was viewed as a sign of improving Soviet-Israeli ties.@@@@1@34@@oe@2-2-2013
22102030@unknown@formal@none@1@S@Israel was seated by a vote of 95-37, with 15 abstentions.@@@@1@11@@oe@2-2-2013
22102031@unknown@formal@none@1@S@Black activist Walter Sisulu said the African National Congress wouldn't reject violence as a way to pressure the South African government into concessions that might lead to negotiations over apartheid.@@@@1@30@@oe@2-2-2013
22102032@unknown@formal@none@1@S@The 77-year-old Sisulu was among eight black political activists freed Sunday from prison.@@@@1@13@@oe@2-2-2013
22102033@unknown@formal@none@1@S@London has concluded that Austrian President Waldheim wasn't responsible for the execution of six British commandos in World War II, although he probably was aware of the slayings.@@@@1@28@@oe@2-2-2013
22102034@unknown@formal@none@1@S@The report by the Defense Ministry also rejected allegations that Britain covered up evidence of Waldheim's activities as a German army officer.@@@@1@22@@oe@2-2-2013
22102035@unknown@formal@none@1@S@An international group approved a formal ban on ivory trade despite objections from southern African governments, which threatened to find alternative channels for selling elephant tusks.@@@@1@26@@oe@2-2-2013
22102036@unknown@formal@none@1@S@The move by the Convention on Trade in Endangered Species, meeting in Switzerland, places the elephant on the endangered-species list.@@@@1@20@@oe@2-2-2013
22102037@unknown@formal@none@1@S@An assassin in Colombia killed a federal judge on a Medellin street.@@@@1@12@@oe@2-2-2013
22102038@unknown@formal@none@1@S@An anonymous caller to a local radio station said cocaine traffickers had slain the magistrate in retaliation for the extraditions of Colombians wanted on drug charges in the U.S.@@@@1@29@@oe@2-2-2013
22102039@unknown@formal@none@1@S@Libyan leader Gadhafi met with Egypt's President Mubarak, and the two officials pledged to respect each other's laws, security and stability.@@@@1@21@@oe@2-2-2013
22102040@unknown@formal@none@1@S@They stopped short of resuming diplomatic ties, severed in 1979.@@@@1@10@@oe@2-2-2013
22102041@unknown@formal@none@1@S@The reconciliation talks in the Libyan desert town of Tobruk followed a meeting Monday in the Egyptian resort of Mersa Metruh.@@@@1@21@@oe@2-2-2013
22103001@unknown@formal@none@1@S@Alpine Group Inc. revised its exchange offer for $43.7 million face amount of 13.5% senior subordinated debt due 1996 and extended the offer to Oct. 27 from Oct. 12.@@@@1@29@@oe@2-2-2013
22103002@unknown@formal@none@1@S@The Hackensack, N.J., company said holders would receive for each $1,000 face amount, $750 face amount of a new issue of secured senior subordinated notes, convertible into common stock at an initial rate of $6.50 a share, and 50 common shares.@@@@1@41@@oe@2-2-2013
22103003@unknown@formal@none@1@S@The new notes will bear interest at 5.5% through July 31, 1991, and thereafter at 10%.@@@@1@16@@oe@2-2-2013
22103004@unknown@formal@none@1@S@Under the original proposal, the maker of specialty coatings and a developer of information-display technologies offered $400 of notes due 1996, 10 common shares and $175 in cash for each $1,000 face amount.@@@@1@33@@oe@2-2-2013
22103005@unknown@formal@none@1@S@Completion of the exchange offer is subject to the tender of at least 80% of the debt, among other things.@@@@1@20@@oe@2-2-2013
22103006@unknown@formal@none@1@S@Alpine, which said it doesn't plan to further extend the offer, said it received $615,000 face amount of debt under the original offer.@@@@1@23@@oe@2-2-2013
22104001@unknown@formal@none@1@S@The stock of UAL Corp. continued to be pounded amid signs that British Airways may balk at any hasty reformulation of the aborted $6.79 billion buy-out of United Airlines' parent.@@@@1@30@@oe@2-2-2013
22104002@unknown@formal@none@1@S@UAL stock plummeted a further $24.875 to $198 on volume of more than 2.8 million shares in New York Stock Exchange composite trading.@@@@1@23@@oe@2-2-2013
22104003@unknown@formal@none@1@S@The plunge followed a drop of $56.875 Monday, amid indications the takeover may take weeks to be revived.@@@@1@18@@oe@2-2-2013
22104004@unknown@formal@none@1@S@The stock has fallen $87.25, or 31%, in the three trading days since announcement of the collapse of the $300-a-share takeover jolted the entire stock market into its second-worst plunge ever.@@@@1@31@@oe@2-2-2013
22104005@unknown@formal@none@1@S@"This is a total bloodbath" for takeover-stock traders, one investment banker said.@@@@1@12@@oe@2-2-2013
22104006@unknown@formal@none@1@S@Los Angeles financier Marvin Davis, who put United in play with a $5.4 billion bid two months ago, last night proffered both a ray of hope and an extra element of uncertainty by saying he remains interested in acquiring UAL.@@@@1@40@@oe@2-2-2013
22104007@unknown@formal@none@1@S@But he dropped his earlier $300-a-share back-up bid, saying he must first explore bank financing.@@@@1@15@@oe@2-2-2013
22104008@unknown@formal@none@1@S@Even as Citicorp and Chase Manhattan Corp. scrambled to line up bank financing for a revised version of the lapsed labor-management bid, British Airways, a 15% partner in the buying group, indicated it wants to start from scratch.@@@@1@38@@oe@2-2-2013
22104009@unknown@formal@none@1@S@Its partners are United's pilots, who were to own 75%, and UAL management at 10%.@@@@1@15@@oe@2-2-2013
22104010@unknown@formal@none@1@S@Adding insult to injury, United's 25,000-member Machinists' union, which helped scuttle financing for the first bid, yesterday asked UAL Chairman Stephen Wolf and other UAL directors to resign.@@@@1@28@@oe@2-2-2013
22104011@unknown@formal@none@1@S@A similar demand was made by a group that represents some of United's 26,000 noncontract employees.@@@@1@16@@oe@2-2-2013
22104012@unknown@formal@none@1@S@John Peterpaul, Machinists union general vice president, attacked Mr. Wolf as "greedy and irresponsible" for pursuing the buy-out.@@@@1@18@@oe@2-2-2013
22104013@unknown@formal@none@1@S@Although Mr. Wolf and John Pope, UAL's chief financial officer, stood to pocket $114.3 million for stock and options in the buy-out, UAL executives planned to reinvest only $15 million in the new company.@@@@1@34@@oe@2-2-2013
22104014@unknown@formal@none@1@S@The blue-collar machinists, longtime rivals of the white-collar pilots, say the buyout would load the company with debt and weaken its finances.@@@@1@22@@oe@2-2-2013
22104015@unknown@formal@none@1@S@Confusion about the two banks' hurried efforts to round up financing for a new bid that the UAL board hasn't even seen yet helped send UAL stock spiraling downward.@@@@1@29@@oe@2-2-2013
22104016@unknown@formal@none@1@S@And rumors of forced selling by takeover-stock traders triggered a 25-point downdraft in the Dow Jones Industrial Average around 11:15 a.m. EDT yesterday.@@@@1@23@@oe@2-2-2013
22104017@unknown@formal@none@1@S@Yesterday's selling began after a Japanese news agency reported that Japanese banks, which balked at the first bid, were ready to reject a revised version at around $250 a share, or $5.65 billion.@@@@1@33@@oe@2-2-2013
22104018@unknown@formal@none@1@S@Several reports as the day progressed gave vague or conflicting indications about whether banks would sign up.@@@@1@17@@oe@2-2-2013
22104019@unknown@formal@none@1@S@Citicorp, for example, said only that it had "expressions of interest of a transaction from both the borrowers and the banks," but didn't have an agreement.@@@@1@26@@oe@2-2-2013
22104020@unknown@formal@none@1@S@Late in the day, Mr. Wolf issued a onepage statement calling Mr. Peterpaul's blast "divisive and uncalled for."@@@@1@18@@oe@2-2-2013
22104021@unknown@formal@none@1@S@But he gave few details on the progress toward a new bid, saying only, "We are working toward a revised proposal for majority employee ownership."@@@@1@25@@oe@2-2-2013
22104022@unknown@formal@none@1@S@Meanwhile, in another sign that a new bid isn't imminent, it was learned that the UAL board held a telephone meeting Monday to hear an update on the situation, but that a formal board meeting isn't likely to be convened until early next week.@@@@1@44@@oe@2-2-2013
22104023@unknown@formal@none@1@S@In London, British Airways Chairman Lord King was quoted in the Times as declaring he is "not prepared to take my shareholders into a hasty deal."@@@@1@26@@oe@2-2-2013
22104024@unknown@formal@none@1@S@Observers said it appeared that British Air was angered at the way the bid has degenerated into confusion, as well as by the banks' effort to round up financing for what one called "a deal that isn't a deal."@@@@1@39@@oe@2-2-2013
22104025@unknown@formal@none@1@S@The effort to revive the bid was complicated by the unwieldy nature of the three-party buying group.@@@@1@17@@oe@2-2-2013
22104026@unknown@formal@none@1@S@The pilots were meeting outside Chicago yesterday.@@@@1@7@@oe@2-2-2013
22104027@unknown@formal@none@1@S@But British Air, which was to have supplied $750 million out of $965 million in equity financing, apparently wasn't involved in the second proposal and could well reject it even if banks obtain financing.@@@@1@34@@oe@2-2-2013
22104028@unknown@formal@none@1@S@A group of United's noncontract employees said in a statement, "The fact that Wolf and other officers were going to line their pockets with literally millions of dollars while instituting severe pay cuts on the nonunion employees of United is not only deplorable but inexcusable."@@@@1@45@@oe@2-2-2013
22104029@unknown@formal@none@1@S@The machinists also asked for an investigation by the Securities and Exchange Commission into possible securities-law violations in the original bid for UAL by Mr. Davis, as well as in the response by UAL.@@@@1@34@@oe@2-2-2013
22104030@unknown@formal@none@1@S@Last week, just before the bank commitments were due, the union asked the U.S. Labor Department to study whether the bid violated legal standards of fairness governing employee investment funds.@@@@1@30@@oe@2-2-2013
22104031@unknown@formal@none@1@S@In his statement, Mr. Wolf said, "We continue to believe our approach is sound, and that it is far better for all employees than the alternative of having an outsider own the company with employees paying for it just the same."@@@@1@41@@oe@2-2-2013
22104032@unknown@formal@none@1@S@Mr. Wolf has eschewed merger advice from a major Wall Street securities firm, relying instead only on a takeover lawyer, Peter Atkins of Skadden Arps Slate Meagher & Flom.@@@@1@29@@oe@2-2-2013
22104033@unknown@formal@none@1@S@The huge drop in UAL stock prompted one takeover stock trader, George Kellner, managing partner of Kellner, DiLeo & Co., to deny publicly rumors that his firm was going out of business.@@@@1@32@@oe@2-2-2013
22104034@unknown@formal@none@1@S@Mr. Kellner said that despite losses on UAL stock, his firm's health is "excellent."@@@@1@14@@oe@2-2-2013
22104035@unknown@formal@none@1@S@The stock's decline also has left the UAL board in a quandary.@@@@1@12@@oe@2-2-2013
22104036@unknown@formal@none@1@S@Although it may not be legally obligated to sell the company if the buy-out group can't revive its bid, it may have to explore alternatives if the buyers come back with a bid much lower than the group's original $300-a-share proposal.@@@@1@41@@oe@2-2-2013
22104037@unknown@formal@none@1@S@At a meeting Sept. 1 to consider the labor-management bid, the board also was informed by its investment adviser, First Boston Corp., of interest expressed by buy-out funds including Kohlberg Kravis Roberts & Co. and Forstmann Little & Co., as well as by Robert Bass, Morgan Stanley's buy-out fund, and Pan Am Corp.@@@@1@53@@oe@2-2-2013
22104038@unknown@formal@none@1@S@The takeover-stock traders were hoping that Mr. Davis or one of the other interested parties might re-emerge with the situation in disarray, or that the board might consider a recapitalization.@@@@1@30@@oe@2-2-2013
22104039@unknown@formal@none@1@S@Meanwhile, Japanese bankers said they were still hesitant about accepting Citicorp's latest proposal.@@@@1@13@@oe@2-2-2013
22105001@unknown@formal@none@1@S@Macmillan Inc. said it plans a public offering of 8.4 million shares of its Berlitz International Inc. unit at $19 to $21 a share.@@@@1@24@@oe@2-2-2013
22105002@unknown@formal@none@1@S@The offering for the language school unit was announced by Robert Maxwell, chairman and chief executive officer of London-based Maxwell Communication Corp., which owns Macmillan.@@@@1@25@@oe@2-2-2013
22105003@unknown@formal@none@1@S@After the offering is completed, Macmillan will own about 56% of the Berlitz common stock outstanding.@@@@1@16@@oe@2-2-2013
22105004@unknown@formal@none@1@S@Five million shares will be offered in the U.S., and 3.4 million additional shares will be offered in concurrent international offerings outside the U.S.@@@@1@24@@oe@2-2-2013
22105005@unknown@formal@none@1@S@Goldman, Sachs & Co. will manage the offering.@@@@1@8@@oe@2-2-2013
22105006@unknown@formal@none@1@S@Macmillan said Berlitz intends to pay quarterly dividends on the stock.@@@@1@11@@oe@2-2-2013
22105007@unknown@formal@none@1@S@The company said it expects to pay the first dividend, of 12.5 cents a share, in the 1990 first quarter.@@@@1@20@@oe@2-2-2013
22105008@unknown@formal@none@1@S@Berlitz will borrow an amount equal to its expected net proceeds from the offerings, plus $50 million, in connection with a credit agreement with lenders.@@@@1@25@@oe@2-2-2013
22105009@unknown@formal@none@1@S@The total borrowing will be about $208 million, the company said.@@@@1@11@@oe@2-2-2013
22105010@unknown@formal@none@1@S@Proceeds from the borrowings under the credit agreement will be used to pay an $80 million cash dividend to Macmillan and to lend the remainder of about $128 million to Maxwell Communications in connection with a promissory note.@@@@1@38@@oe@2-2-2013
22105011@unknown@formal@none@1@S@Proceeds from the offering will be used to repay borrowings under the short-term parts of a credit agreement.@@@@1@18@@oe@2-2-2013
22105012@unknown@formal@none@1@S@Berlitz, which is based in Princeton, N.J., provides language instruction and translation services through more than 260 language centers in 25 countries.@@@@1@22@@oe@2-2-2013
22105013@unknown@formal@none@1@S@In the past five years, more than 68% of its sales have been outside the U.S.@@@@1@16@@oe@2-2-2013
22105014@unknown@formal@none@1@S@Macmillan has owned Berlitz since 1966.@@@@1@6@@oe@2-2-2013
22105015@unknown@formal@none@1@S@In the first six months of this year, Berlitz posted net income of $7.6 million on sales of $106.2 million, compared with net income of $8.2 million on sales of $90.6 million.@@@@1@32@@oe@2-2-2013
22106001@unknown@formal@none@1@S@Right away you notice the following things about a Philip Glass concert.@@@@1@12@@oe@2-2-2013
22106002@unknown@formal@none@1@S@It attracts people with funny hair (or with no hair -- in front of me a girl with spiked locks sat beside a boy who had shaved his).@@@@1@28@@oe@2-2-2013
22106003@unknown@formal@none@1@S@Whoever constitute the local Left Bank come out in force, dressed in black, along with a smattering of yuppies who want to be on the cutting edge.@@@@1@27@@oe@2-2-2013
22106004@unknown@formal@none@1@S@People in Glass houses tend to look stoned.@@@@1@8@@oe@2-2-2013
22106005@unknown@formal@none@1@S@And, if still conscious at the evening's end, you notice something else: The audience, at first entranced and hypnotized by the music, releases its pent-up feelings in collective gratitude.@@@@1@29@@oe@2-2-2013
22106006@unknown@formal@none@1@S@Currently in the middle of a four-week, 20-city tour as a solo pianist, Mr. Glass has left behind his synthesizers, equipment and collaborators in favor of going it alone.@@@@1@29@@oe@2-2-2013
22106007@unknown@formal@none@1@S@He sits down at the piano and plays.@@@@1@8@@oe@2-2-2013
22106008@unknown@formal@none@1@S@And plays.@@@@1@2@@oe@2-2-2013
22106009@unknown@formal@none@1@S@Either one likes it or one doesn't.@@@@1@7@@oe@2-2-2013
22106010@unknown@formal@none@1@S@The typical Glass audience, which is more likely to be composed of music students than their teachers, certainly does.@@@@1@19@@oe@2-2-2013
22106011@unknown@formal@none@1@S@The work, though, sounds like Muzak for spaceships.@@@@1@8@@oe@2-2-2013
22106012@unknown@formal@none@1@S@Philip Glass is the emperor, and his music the new clothes, of the avant-garde.@@@@1@14@@oe@2-2-2013
22106013@unknown@formal@none@1@S@His success is easy to understand.@@@@1@6@@oe@2-2-2013
22106014@unknown@formal@none@1@S@Softly introducing and explaining his pieces, Mr. Glass looks and sounds more like a shaggy poet describing his work than a classical pianist playing a recital.@@@@1@26@@oe@2-2-2013
22106015@unknown@formal@none@1@S@The piano compositions, which have been labeled variously as minimalist, Oriental, repetitive, cyclical, monophonic and hypnotic, are relentlessly tonal (therefore unthreatening), unvaryingly rhythmic (therefore soporific), and unflaggingly harmonious but unmelodic (therefore both pretty and unconventional).@@@@1@35@@oe@2-2-2013
22106016@unknown@formal@none@1@S@It is music for people who want to hear something different but don't want to work especially hard at the task.@@@@1@21@@oe@2-2-2013
22106017@unknown@formal@none@1@S@It is E-Z listening for the now generation.@@@@1@8@@oe@2-2-2013
22106018@unknown@formal@none@1@S@Mr. Glass has inverted the famous modernist dictum "less is more."@@@@1@11@@oe@2-2-2013
22106019@unknown@formal@none@1@S@His more is always less.@@@@1@5@@oe@2-2-2013
22106020@unknown@formal@none@1@S@Far from being minimalist, the music unabatingly torments us with apparent novelties not so cleverly disguised in the simplicities of 4/4 time, octave intervals, and ragtime or gospel chord progressions.@@@@1@30@@oe@2-2-2013
22106021@unknown@formal@none@1@S@But the music has its charm, and Mr. Glass has constructed his solo program around a move from the simple to the relatively complex.@@@@1@24@@oe@2-2-2013
22106022@unknown@formal@none@1@S@"Opening" (1981), from Glassworks, introduces the audience to the Glass technique: Never straying too far from the piano's center, Mr. Glass works in the two octaves on either side of middle C, and his fingers seldom leave the keys.@@@@1@39@@oe@2-2-2013
22106023@unknown@formal@none@1@S@There is a recognizable musical style here, but not a particular performance style.@@@@1@13@@oe@2-2-2013
22106024@unknown@formal@none@1@S@The music is not especially pianistic; indeed, it's hard to imagine a bad performance of it.@@@@1@16@@oe@2-2-2013
22106025@unknown@formal@none@1@S@Nothing bravura, no arpeggios, no ticklish fingering problems challenge the performer.@@@@1@11@@oe@2-2-2013
22106026@unknown@formal@none@1@S@We hear, we may think, inner voices, but they all seem to be saying the same thing.@@@@1@17@@oe@2-2-2013
22106027@unknown@formal@none@1@S@With "Planet News," music meant to accompany readings of Allen Ginsberg's "Wichita Vortex Sutra," Mr. Glass gets going.@@@@1@18@@oe@2-2-2013
22106028@unknown@formal@none@1@S@His hands sit farther apart on the keyboard.@@@@1@8@@oe@2-2-2013
22106029@unknown@formal@none@1@S@Seventh chords make you feel as though he may break into a (very slow) improvisatory riff.@@@@1@16@@oe@2-2-2013
22106030@unknown@formal@none@1@S@The chords modulate, but there is little filigree even though his fingers begin to wander over more of the keys.@@@@1@20@@oe@2-2-2013
22106031@unknown@formal@none@1@S@Contrasts predictably accumulate: First the music is loud, then it becomes soft, then (you realize) it becomes louder again.@@@@1@19@@oe@2-2-2013
22106032@unknown@formal@none@1@S@"The Fourth Knee Play," an interlude from "Einstein on the Beach," is like a toccata but it doesn't seem to move much beyond its left-hand ground in "Three Blind Mice."@@@@1@30@@oe@2-2-2013
22106033@unknown@formal@none@1@S@When Mr. Glass decides to get really fancy, he crosses his hands and hits a resonant bass note with his right hand.@@@@1@22@@oe@2-2-2013
22106034@unknown@formal@none@1@S@He does this in at least three of his solo pieces.@@@@1@11@@oe@2-2-2013
22106035@unknown@formal@none@1@S@You might call it a leitmotif or a virtuoso accomplishment.@@@@1@10@@oe@2-2-2013
22106036@unknown@formal@none@1@S@In "Mad Rush," which came from a commission to write a piece of indeterminate length (Mr. Glass charmingly, and tellingly, confessed that "this was no problem for me"), an A section alternates with a B section several times before the piece ends unresolved.@@@@1@43@@oe@2-2-2013
22106037@unknown@formal@none@1@S@Not only is the typical Glasswork open-ended, it is also often multiple in its context(s).@@@@1@15@@oe@2-2-2013
22106038@unknown@formal@none@1@S@"Mad Rush" began its life as the accompaniment to the Dalai Lama's first public address in the U.S., when Mr. Glass played it on the organ at New York's Cathedral of St. John the Divine.@@@@1@35@@oe@2-2-2013
22106039@unknown@formal@none@1@S@Later it was performed on Radio Bremen in Germany, and then Lucinda Childs took it for one of her dance pieces.@@@@1@21@@oe@2-2-2013
22106040@unknown@formal@none@1@S@The point is that any piece can be used as background music for virtually anything.@@@@1@15@@oe@2-2-2013
22106041@unknown@formal@none@1@S@The evening ended with Mr. Glass's "Metamorphosis," another multiple work.@@@@1@10@@oe@2-2-2013
22106042@unknown@formal@none@1@S@Parts 1, 2, and 5 come from the soundtrack of Errol Morris's acclaimed film, "The Thin Blue Line," and the two other parts from incidental music to two separate dramatizations of the Kafka story of the same name.@@@@1@38@@oe@2-2-2013
22106043@unknown@formal@none@1@S@When used as background in this way, the music has an appropriate eeriness, as when a two-note phrase, a descending minor third, accompanies the seemingly endless litany of reports, interviews and confessions of witnesses in the Morris film.@@@@1@38@@oe@2-2-2013
22106044@unknown@formal@none@1@S@Served up as a solo, however, the music lacks the resonance provided by a context within another medium.@@@@1@18@@oe@2-2-2013
22106045@unknown@formal@none@1@S@Admirers of Mr. Glass may agree with the critic Richard Kostelanetz's sense that the 1974 "Music in Twelve Parts" is as encyclopedic and weighty as "The Well-Tempered Clavier."@@@@1@28@@oe@2-2-2013
22106046@unknown@formal@none@1@S@But while making the obvious point that both composers develop variations from themes, this comparison ignores the intensely claustrophobic nature of Mr. Glass's music.@@@@1@24@@oe@2-2-2013
22106047@unknown@formal@none@1@S@Its supposedly austere minimalism overlays a bombast that makes one yearn for the astringency of neoclassical Stravinsky, the genuinely radical minimalism of Berg and Webern, and what in retrospect even seems like concision in Mahler.@@@@1@35@@oe@2-2-2013
22106048@unknown@formal@none@1@S@Mr. Spiegelman is professor of English at Southern Methodist University and editor of the Southwest Review.@@@@1@16@@oe@2-2-2013
22107001@unknown@formal@none@1@S@Honeywell Inc. said it hopes to complete shortly the first of two sales of shares in its Japanese joint venture, Yamatake-Honeywell, for about $280 million.@@@@1@25@@oe@2-2-2013
22107002@unknown@formal@none@1@S@The company wouldn't disclose the buyer of the initial 16% stake.@@@@1@11@@oe@2-2-2013
22107003@unknown@formal@none@1@S@Proceeds of the sale, expected to be completed next week, would be used to repurchase as many as 10 million shares of Honeywell stock, the company said.@@@@1@27@@oe@2-2-2013
22107004@unknown@formal@none@1@S@Honeywell said it is negotiating the sale of a second stake in Yamatake-Honeywell, but indicated it intends to hold at least 20% of the joint venture's stock long term.@@@@1@29@@oe@2-2-2013
22107005@unknown@formal@none@1@S@A 20% stake would allow Honeywell to include Yamatake earnings in its results.@@@@1@13@@oe@2-2-2013
22107006@unknown@formal@none@1@S@Honeywell previously said it intended to reduce its holding in the Japanese concern as part of a restructuring plan which also calls for a reduction of dependence on weapons sales.@@@@1@30@@oe@2-2-2013
22107007@unknown@formal@none@1@S@Yesterday a spokeswoman said the company was "pleased with our progress" in that regard and "hopes to provide additional details soon."@@@@1@21@@oe@2-2-2013
22107008@unknown@formal@none@1@S@Honeywell said its Defense and Marine Systems group incurred delays in shipping some undisclosed contracts during the third quarter, resulting in lower operating profit for that business.@@@@1@27@@oe@2-2-2013
22107009@unknown@formal@none@1@S@Overall, Honeywell reported earnings of $74.4 million, or $1.73 a share, for the three months ended Oct. 1 compared with a loss of $41.4 million, or 98 cents a share, a year earlier.@@@@1@33@@oe@2-2-2013
22107010@unknown@formal@none@1@S@The previous period's results included a $108 million pretax charge related to unrecoverable contract costs and a $12.3 million pretax gain on real estate sales.@@@@1@25@@oe@2-2-2013
22107011@unknown@formal@none@1@S@Sales for the latest quarter were flat, at $1.72 billion.@@@@1@10@@oe@2-2-2013
22107012@unknown@formal@none@1@S@For the nine months, Honeywell reported earnings of $212.1 million, or $4.92 a share, compared with earnings of $47.9 million, or $1.13 a share, a year earlier.@@@@1@27@@oe@2-2-2013
22107013@unknown@formal@none@1@S@Sales declined slightly to $5.17 billion.@@@@1@6@@oe@2-2-2013
22108001@unknown@formal@none@1@S@Once again, your editorial page misstates the law to conform to your almost beatific misperceptions.@@@@1@15@@oe@2-2-2013
22108002@unknown@formal@none@1@S@In an excursus of little relevance to his central point about private enforcement suits by environmental groups, Michael S. Greve informs your readers, ". . . the Clean Water Act is written upon the presumption -- the pretense, rather -- that nothing but zero risk will do; it establishes a legal standard of zero discharge" ("Congress's Environmental Buccaneers," Sept. 18).@@@@1@60@@oe@2-2-2013
22108003@unknown@formal@none@1@S@This statement surely buttresses your editorial viewpoint that environmental protection is generally silly or excessive, but it is simply wrong.@@@@1@20@@oe@2-2-2013
22108004@unknown@formal@none@1@S@The Clean Water Act contains no "legal standard" of zero discharge.@@@@1@11@@oe@2-2-2013
22108005@unknown@formal@none@1@S@It requires that "discharges of pollutants" into the "waters of the United States" be authorized by permits that reflect the effluent limitations developed under section 301.@@@@1@26@@oe@2-2-2013
22108006@unknown@formal@none@1@S@Whatever may be the problems with this system, it scarcely reflects "zero risk" or "zero discharge."@@@@1@16@@oe@2-2-2013
22108007@unknown@formal@none@1@S@Perhaps Mr. Greve was confused by Congress's meaningless statement of "the national goal" in section 101, which indeed calls for the elimination of discharges -- by 1985, no less.@@@@1@29@@oe@2-2-2013
22108008@unknown@formal@none@1@S@This fatuous statement was not taken seriously when enacted in 1972, and should not now be confused with the operative provisions of the statute.@@@@1@24@@oe@2-2-2013
22108009@unknown@formal@none@1@S@Thus, you do the public a great disservice when Mr. Greve suggests, even facetiously, that the Clean Water Act prohibits the preparation of a scotch and water; your tippling readers may be led to believe that nothing but chance or oversight protects them, as they cower in the night with their scotch and waters, from the hairyknuckled knock of the Sierra Club at their doors.@@@@1@65@@oe@2-2-2013
22108010@unknown@formal@none@1@S@Robert J. McManus@@@@1@3@@oe@2-2-2013
22109001@unknown@formal@none@1@S@National Geographic, the sixth-largest U.S. magazine, is attracting more readers than ever and offers the glossy, high-toned pages that upscale advertisers love.@@@@1@22@@oe@2-2-2013
22109002@unknown@formal@none@1@S@So why did advertising pages plunge by almost 10% and ad revenue by 7.2% in the first half?@@@@1@18@@oe@2-2-2013
22109003@unknown@formal@none@1@S@To hear advertisers tell it, the magazine just hasn't kept up with the times.@@@@1@14@@oe@2-2-2013
22109004@unknown@formal@none@1@S@Despite renewed interest by the public in such topics as the environment and the Third World, it hasn't been able to shake its reputation as a magazine boys like to flip through in search of topless tribe women.@@@@1@38@@oe@2-2-2013
22109005@unknown@formal@none@1@S@Worse, it lagged behind competitors in offering now-standard gimmicks, from regional editions to discounts for frequent advertisers.@@@@1@17@@oe@2-2-2013
22109006@unknown@formal@none@1@S@But now, the magazine is attempting to fight back, with an ambitious plan including a revamped sales strategy and a surprisingly aggressive ad campaign.@@@@1@24@@oe@2-2-2013
22109007@unknown@formal@none@1@S@Advertisers don't think of the magazine first, says Joan McCraw, who joined in April as national advertising director.@@@@1@18@@oe@2-2-2013
22109008@unknown@formal@none@1@S@"What we want to do is take a more aggressive stance.@@@@1@11@@oe@2-2-2013
22109009@unknown@formal@none@1@S@People didn't believe we were in tune with the marketplace, and in many ways we weren't."@@@@1@16@@oe@2-2-2013
22109010@unknown@formal@none@1@S@The 101-year-old magazine has never had to woo advertisers with quite so much fervor before.@@@@1@15@@oe@2-2-2013
22109011@unknown@formal@none@1@S@It largely rested on its hard-to-fault demographics: 10.8 million subscribers in the first half, up from 10.5 million a year ago; an average age of 42 for readers -- at the height of their consuming years; loyalty to the tune of an 85% average subscription renewal rate.@@@@1@47@@oe@2-2-2013
22109012@unknown@formal@none@1@S@The magazine had its best year yet in 1988, when it celebrated its centennial and racked up a 17% gain in ad pages, to 283.@@@@1@25@@oe@2-2-2013
22109013@unknown@formal@none@1@S@But this year, when the hullabaloo surrounding its centennial died, so too did some advertiser interest.@@@@1@16@@oe@2-2-2013
22109014@unknown@formal@none@1@S@The reason, ad executives say, is that the entire magazine business has been soft -- and National Geographic has some quirks that make it especially unattractive during a soft market.@@@@1@30@@oe@2-2-2013
22109015@unknown@formal@none@1@S@Perhaps the biggest of those factors is its high ad prices -- $130,000 for a four-color page, vs. $47,000 for the Smithsonian, a comparable publication with a far smaller circulation.@@@@1@30@@oe@2-2-2013
22109016@unknown@formal@none@1@S@When ad dollars are tight, the high page cost is a major deterrent for advertisers, who generally want to appear regularly in a publication or not at all.@@@@1@28@@oe@2-2-2013
22109017@unknown@formal@none@1@S@Even though National Geographic offers far more readers than does a magazine like Smithsonian, "the page costs you an arm and a leg to develop any frequency,"says Harry Glass, New York media manager for Bozell Inc.@@@@1@36@@oe@2-2-2013
22109018@unknown@formal@none@1@S@To combat that problem, National Geographic, like other magazines, began offering regional editions allowing advertisers to appear in only a portion of its magazines -- for example, ads can run only in the magazines sent to subscribers in the largest 25 markets.@@@@1@42@@oe@2-2-2013
22109019@unknown@formal@none@1@S@But the magazine was slower than its competitors to come up with its regional editions, and until last year offered fewer of them than did competitors.@@@@1@26@@oe@2-2-2013
22109020@unknown@formal@none@1@S@Time magazine, for example, has more than 100 separate editions going to different regions, top management, and other groups.@@@@1@19@@oe@2-2-2013
22109021@unknown@formal@none@1@S@Another sticking point for advertisers was National Geographic's tradition of lumping its ads together, usually at the beginning or end of the magazine, rather than spreading ads out among its articles, as most magazines do.@@@@1@35@@oe@2-2-2013
22109022@unknown@formal@none@1@S@And National Geographic's smaller-than-average size means extra production costs for advertisers.@@@@1@11@@oe@2-2-2013
22109023@unknown@formal@none@1@S@But Ms. McCraw says the magazine is fighting back.@@@@1@9@@oe@2-2-2013
22109024@unknown@formal@none@1@S@It now offers 30 regional editions, it very recently began running ads adjacent to articles, and it has been beefing up its sales force.@@@@1@24@@oe@2-2-2013
22109025@unknown@formal@none@1@S@And it just launched a promotional campaign to tell chief executives, marketing directors, and media executives just that.@@@@1@18@@oe@2-2-2013
22109026@unknown@formal@none@1@S@The centerpiece of the promotion is its new ad campaign, into which the magazine will pour about $500,000, mostly in the next few weeks.@@@@1@24@@oe@2-2-2013
22109027@unknown@formal@none@1@S@The campaign, created by Omnicom Group's DDB Needham agency, takes advantage of the eye-catching photography that National Geographic is known for.@@@@1@21@@oe@2-2-2013
22109028@unknown@formal@none@1@S@In one ad, a photo of the interior of the Sainte-Chapelle in Paris is paired with the headline, "The only book more respected than ours doesn't accept advertising."@@@@1@28@@oe@2-2-2013
22109029@unknown@formal@none@1@S@Another ad pictures a tree ant, magnified 80 times, with the headline, "For impact far beyond your size consider our regional editions."@@@@1@22@@oe@2-2-2013
22109030@unknown@formal@none@1@S@Ms. McCraw says she wants the campaign to help attract advertisers in 10 categories, including corporate, financial services, consumer electronics, insurance and food.@@@@1@23@@oe@2-2-2013
22109031@unknown@formal@none@1@S@Her goal: to top 300 ad pages in 1990, up from about 274 this year.@@@@1@15@@oe@2-2-2013
22109032@unknown@formal@none@1@S@Whether she can meet that ambitious goal is still far from certain.@@@@1@12@@oe@2-2-2013
22109033@unknown@formal@none@1@S@"The ad campaign is meant to contemporize the thought of National Geographic," she says.@@@@1@14@@oe@2-2-2013
22109034@unknown@formal@none@1@S@"We want it to be a '90s kind of image."@@@@1@10@@oe@2-2-2013
22109035@unknown@formal@none@1@S@WCRS Plans Ad-Unit Sale@@@@1@4@@oe@2-2-2013
22109036@unknown@formal@none@1@S@WCRS Group hopes to announce, perhaps today, an agreement to sell the majority of its ad unit to Paris-based Eurocom, a European ad executive said.@@@@1@25@@oe@2-2-2013
22109037@unknown@formal@none@1@S@WCRS has been in discussions with Eurocom for several months.@@@@1@10@@oe@2-2-2013
22109038@unknown@formal@none@1@S@However, when negotiations bogged down recently, WCRS's chief executive, Peter Scott, met in Paris with another French firm, Boulet Dru Dupuy Petit, or BDDP.@@@@1@24@@oe@2-2-2013
22109039@unknown@formal@none@1@S@According to the executive, BDDP's involvement prompted renewed vigor in the WCRS-Eurocom talks and the two agencies were hoping to hammer out details by today.@@@@1@25@@oe@2-2-2013
22109040@unknown@formal@none@1@S@Executives of the two agencies couldn't be reached last night.@@@@1@10@@oe@2-2-2013
22109041@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
22109042@unknown@formal@none@1@S@NEW ACCOUNT: Procter & Gamble Co., Cincinnati, awarded the ad accounts for its line of Professional Crisco vegetable shortening and oil products to Northlich, Stolley, LaWarre, Cincinnati.@@@@1@27@@oe@2-2-2013
22109043@unknown@formal@none@1@S@Billings weren't disclosed.@@@@1@3@@oe@2-2-2013
22109044@unknown@formal@none@1@S@Professional Crisco products are specially made for the foodservice industry.@@@@1@10@@oe@2-2-2013
22109045@unknown@formal@none@1@S@WHO'S NEWS: Stephen Novick, 49, was named executive vice president, deputy creative director at Grey Advertising, New York.@@@@1@18@@oe@2-2-2013
22109046@unknown@formal@none@1@S@He was executive vice president, director of broadcast production.@@@@1@9@@oe@2-2-2013
22110001@unknown@formal@none@1@S@The Commodity Futures Trading Commission plans to restrict dual trading on commodity exchanges, a move almost certain to infuriate exchange officials and traders.@@@@1@23@@oe@2-2-2013
22110002@unknown@formal@none@1@S@The CFTC said it will propose the restrictions after the release of a study that shows little economic benefit resulting from dual trading and cites "problems" associated with the practice.@@@@1@30@@oe@2-2-2013
22110003@unknown@formal@none@1@S@Dual trading gives an exchange trader the right to trade both for his own account and for customers.@@@@1@18@@oe@2-2-2013
22110004@unknown@formal@none@1@S@The issue exploded this year after a Federal Bureau of Investigation operation led to charges of widespread trading abuses at the Chicago Board of Trade and Chicago Mercantile Exchange.@@@@1@29@@oe@2-2-2013
22110005@unknown@formal@none@1@S@While not specifically mentioned in the FBI charges, dual trading became a focus of attempts to tighten industry regulations.@@@@1@19@@oe@2-2-2013
22110006@unknown@formal@none@1@S@Critics contend that traders were putting buying or selling for their own accounts ahead of other traders' customer orders.@@@@1@19@@oe@2-2-2013
22110007@unknown@formal@none@1@S@Traders are likely to oppose such restrictions because dual trading provides a way to make money in slower markets where there is a shortage of customer orders.@@@@1@27@@oe@2-2-2013
22110008@unknown@formal@none@1@S@The exchanges contend that dual trading improves liquidity in the markets because traders can buy or sell even when they don't have a customer order in hand.@@@@1@27@@oe@2-2-2013
22110009@unknown@formal@none@1@S@The exchanges say liquidity becomes a severe problem for thinly traded contracts such as those with a long time remaining before expiration.@@@@1@22@@oe@2-2-2013
22110010@unknown@formal@none@1@S@The CFTC may take those arguments into account by allowing exceptions to its restrictions.@@@@1@14@@oe@2-2-2013
22110011@unknown@formal@none@1@S@The agency didn't cite specific situations where dual trading might be allowed, but smaller exchanges or contracts that need additional liquidity are expected to be among them.@@@@1@27@@oe@2-2-2013
22110012@unknown@formal@none@1@S@Wendy Gramm, the agency's chairman, told the Senate Agriculture Committee that she expects the study to be released within two weeks and the rule changes to be completed by Thanksgiving.@@@@1@30@@oe@2-2-2013
22110013@unknown@formal@none@1@S@The study, by the CFTC's division of economic analysis, shows that "a trade is a trade," a member of the study team said.@@@@1@23@@oe@2-2-2013
22110014@unknown@formal@none@1@S@Whether a trade is done on a dual or non-dual basis, the member said, "doesn't seem to have much economic impact."@@@@1@21@@oe@2-2-2013
22110015@unknown@formal@none@1@S@Currently, most traders on commodity exchanges specialize in trading either for customer accounts, which makes them brokers, or for their own accounts as socalled locals.@@@@1@25@@oe@2-2-2013
22110016@unknown@formal@none@1@S@"The tests indicate that dual and non-dual traders are similar in terms of the trade executions and liquidity they provide to the market," Mrs. Gramm told the Senate panel.@@@@1@29@@oe@2-2-2013
22110017@unknown@formal@none@1@S@Members of Congress have proposed restricting dual trading in bills to reauthorize CFTC operations.@@@@1@14@@oe@2-2-2013
22110018@unknown@formal@none@1@S@The House's bill would prohibit dual trading in markets with daily average volume of 7,000 contracts or more, comprising those considered too difficult to track without a sophisticated computer system.@@@@1@30@@oe@2-2-2013
22110019@unknown@formal@none@1@S@The Senate bill would force the CFTC to suspend dual trading if an exchange can't show that its oversight system can detect dual-trading abuses.@@@@1@24@@oe@2-2-2013
22110020@unknown@formal@none@1@S@So far, one test of restricting dual trading has worked well.@@@@1@11@@oe@2-2-2013
22110021@unknown@formal@none@1@S@The Chicago Merc banned dual trading in its Standard & Poor's 500-stock index futures pit in 1987.@@@@1@17@@oe@2-2-2013
22110022@unknown@formal@none@1@S@Under the rules, traders decide before a session begins whether they will trade for their own account or for customers.@@@@1@20@@oe@2-2-2013
22110023@unknown@formal@none@1@S@Traders who stand on the pit's top step, where most customer orders are executed, can't trade for themselves.@@@@1@18@@oe@2-2-2013
22110024@unknown@formal@none@1@S@A Merc spokesman said the plan hasn't made much difference in liquidity in the pit.@@@@1@15@@oe@2-2-2013
22110025@unknown@formal@none@1@S@"It's too soon to tell . . . but people don't seem to be unhappy with it," he said.@@@@1@19@@oe@2-2-2013
22110026@unknown@formal@none@1@S@He said he wouldn't comment on the CFTC plan until the exchange has seen the full proposal.@@@@1@17@@oe@2-2-2013
22110027@unknown@formal@none@1@S@But at a meeting last week, Tom Donovan, the Board of Trade's president, told commodity lawyers: "Dual trading is definitely worth saving.@@@@1@22@@oe@2-2-2013
22110028@unknown@formal@none@1@S@It adds something to the market.@@@@1@6@@oe@2-2-2013
22111001@unknown@formal@none@1@S@Japanese Firms Push Posh Car Showrooms@@@@1@6@@oe@2-2-2013
22111002@unknown@formal@none@1@S@JAPANESE luxury-car makers are trying to set strict design standards for their dealerships.@@@@1@13@@oe@2-2-2013
22111003@unknown@formal@none@1@S@But some dealers are negotiating looser terms, while others decline to deal at all.@@@@1@14@@oe@2-2-2013
22111004@unknown@formal@none@1@S@Nissan Motor Co.'s Infiniti division likes to insist that every dealer construct and furnish a building in a Japanese style.@@@@1@20@@oe@2-2-2013
22111005@unknown@formal@none@1@S@Specifications include a polished bronze sculpture at the center of each showroom and a tile bridge spanning a stream that flows into the building from outside.@@@@1@26@@oe@2-2-2013
22111006@unknown@formal@none@1@S@"Infiniti has it down to the ashtrays," says Jay Ferron, a partner at J.D. Power & Associates, an auto research firm.@@@@1@21@@oe@2-2-2013
22111007@unknown@formal@none@1@S@Toyota Motor Corp.'s Lexus division also provides specifications.@@@@1@8@@oe@2-2-2013
22111008@unknown@formal@none@1@S@But only two-thirds of Lexus dealers are constructing new buildings according to the Lexus specs.@@@@1@15@@oe@2-2-2013
22111009@unknown@formal@none@1@S@Some are even coming up with their own novel designs.@@@@1@10@@oe@2-2-2013
22111010@unknown@formal@none@1@S@In Louisville, Ky., for example, David Peterson has built a Lexus dealership with the showroom on the second floor.@@@@1@19@@oe@2-2-2013
22111011@unknown@formal@none@1@S@Yet some dealers have turned down Infiniti or Lexus franchises because they were unwilling or unable to meet the design requirements.@@@@1@21@@oe@2-2-2013
22111012@unknown@formal@none@1@S@Lee Seidman of Cleveland says Infiniti "was a bear on interiors" but at least let him retrofit an existing building -- without the stream.@@@@1@24@@oe@2-2-2013
22111013@unknown@formal@none@1@S@Mr. Seidman says he turned down a Lexus franchise in part because "the building was gorgeous but very expensive."@@@@1@19@@oe@2-2-2013
22111014@unknown@formal@none@1@S@To head off arguments, Infiniti offers dealers cash bonuses and low-interest construction loans.@@@@1@13@@oe@2-2-2013
22111015@unknown@formal@none@1@S@Dictation Device's Saga Plays Back a Lesson@@@@1@7@@oe@2-2-2013
22111016@unknown@formal@none@1@S@PRODUCTS DON'T have to be first to be winners.@@@@1@9@@oe@2-2-2013
22111017@unknown@formal@none@1@S@That's the lesson offered through one case study featured in a design exhibit.@@@@1@13@@oe@2-2-2013
22111018@unknown@formal@none@1@S@Dictaphone Corp. was caught off guard in 1974 when its main competitor, Lanier Office Products of Japan, introduced a microcassette dictation recorder half the size of standard cassette devices.@@@@1@29@@oe@2-2-2013
22111019@unknown@formal@none@1@S@Blocked by patent protection from following suit, Dictaphone decided to go a step further and cut the cassette in half again -- down to the length of a paperclip.@@@@1@29@@oe@2-2-2013
22111020@unknown@formal@none@1@S@By 1979, designers and engineers at Dictaphone, a Pitney Bowes subsidiary, had produced a working model of a "picocassette" recorder.@@@@1@20@@oe@2-2-2013
22111021@unknown@formal@none@1@S@By 1982, however, the patent status of the Lanier microcassette had changed, permitting Dictaphone to develop its own competitive micro system, which it did.@@@@1@24@@oe@2-2-2013
22111022@unknown@formal@none@1@S@Marketing and sales departments then urged abandonment of the pico project.@@@@1@11@@oe@2-2-2013
22111023@unknown@formal@none@1@S@But others said pico should proceed.@@@@1@6@@oe@2-2-2013
22111024@unknown@formal@none@1@S@Both were right.@@@@1@3@@oe@2-2-2013
22111025@unknown@formal@none@1@S@Dictaphone went ahead and introduced the pico in 1985, but it hasn't sold well.@@@@1@14@@oe@2-2-2013
22111026@unknown@formal@none@1@S@To date, says Emil Jachmann, a Dictaphone vice president, it has "broken even or shown a small loss."@@@@1@18@@oe@2-2-2013
22111027@unknown@formal@none@1@S@Nevertheless, the device has been successful in other ways.@@@@1@9@@oe@2-2-2013
22111028@unknown@formal@none@1@S@It helped Dictaphone attract better engineers, and it provided new technology for other company products.@@@@1@15@@oe@2-2-2013
22111029@unknown@formal@none@1@S@The picocassette recorder also helped transform the company's reputation from follower to leading-edge innovator.@@@@1@14@@oe@2-2-2013
22111030@unknown@formal@none@1@S@"It gave me great pride to see the inventor of the microcassette in Japan look at the pico and shake his head and say `unbelievable,'" says Mr. Jachmann.@@@@1@28@@oe@2-2-2013
22111031@unknown@formal@none@1@S@Dictaphone's picocassette recorder is one of 13 case studies in the TRIAD Design Project, sponsored by the Design Management Institute of Boston and Harvard Business School.@@@@1@26@@oe@2-2-2013
22111032@unknown@formal@none@1@S@The studies are on exhibit at Harvard this month and will travel to Chicago's Institute of Design and the University of California at Berkeley.@@@@1@24@@oe@2-2-2013
22111033@unknown@formal@none@1@S@A Rake's Progress Means Branching Out@@@@1@6@@oe@2-2-2013
22111034@unknown@formal@none@1@S@ONE DAY Carl Barrett of Mobile, Ala., was raking some sycamore leaves, but the rake kept riding up over the piles.@@@@1@21@@oe@2-2-2013
22111035@unknown@formal@none@1@S@The harder he tried to push them into large piles, the closer he came to breaking the rake and straining his back.@@@@1@22@@oe@2-2-2013
22111036@unknown@formal@none@1@S@So Mr. Barrett, then vice president of the Alabama Steamship Association, took a steel-toothed garden rake and taped it to the underside of a leaf rake about nine inches up.@@@@1@30@@oe@2-2-2013
22111037@unknown@formal@none@1@S@His crude device worked: The lower teeth gathered the leaves into a pile, while the higher, harder teeth moved the top of the pile.@@@@1@24@@oe@2-2-2013
22111038@unknown@formal@none@1@S@Now incorporated into a polypropylene rake, the four-inch prongs, or "wonderbars," also are supposed to aid in picking up leaves.@@@@1@20@@oe@2-2-2013
22111039@unknown@formal@none@1@S@One customer, Donald Blaggs of Mobile, says the Barrett Rake allowed him to do his lawn in 2 1/2 hours, two hours less than usual.@@@@1@25@@oe@2-2-2013
22111040@unknown@formal@none@1@S@But other rake makers have their doubts.@@@@1@7@@oe@2-2-2013
22111041@unknown@formal@none@1@S@Richard Mason, president of Ames Co. in Parkersburg, W. Va., says the Barrett rake "makes sense," but it would be "tough" to explain to consumers.@@@@1@25@@oe@2-2-2013
22111042@unknown@formal@none@1@S@John Stoner, marketing director for True Temper Corp., a subsidiary of Black & Decker, says people don't want to move a leaf pile.@@@@1@23@@oe@2-2-2013
22111043@unknown@formal@none@1@S@"They either pick it up," he says, "or they start pulling from a fresh direction."@@@@1@15@@oe@2-2-2013
22111044@unknown@formal@none@1@S@Odds and Ends@@@@1@3@@oe@2-2-2013
22111045@unknown@formal@none@1@S@NO MORE STUBBED toes or bruised shins, promises Geste Corp. of Goshen, Ind., the designer of a bed support to replace traditional frames.@@@@1@23@@oe@2-2-2013
22111046@unknown@formal@none@1@S@Four tubular steel "Bedfellows," each roughly in the shape of a "W," are attached to the bottom of the box spring in a recessed position. . . .@@@@1@28@@oe@2-2-2013
22111047@unknown@formal@none@1@S@Nearly half of U.S. consumers say they'll pay up to 5% more for packaging that can be recycled or is biodegradable, according to a survey commissioned by the Michael Peters Group, a design consultant.@@@@1@34@@oe@2-2-2013
22112001@unknown@formal@none@1@S@The Pentagon is a haunted house.@@@@1@6@@oe@2-2-2013
22112002@unknown@formal@none@1@S@Living there for six years was really scary.@@@@1@8@@oe@2-2-2013
22112003@unknown@formal@none@1@S@The ghosts of the past are everywhere: They are kept at bay only by feeding them vast quantities of our defense budget.@@@@1@22@@oe@2-2-2013
22112004@unknown@formal@none@1@S@Some can be bought off relatively cheaply.@@@@1@7@@oe@2-2-2013
22112005@unknown@formal@none@1@S@During the Korean War, Gen. Douglas MacArthur demanded and got, in addition to his U.N. command in Korea, his own naval command in Japan, NavforJapan.@@@@1@25@@oe@2-2-2013
22112006@unknown@formal@none@1@S@Those obsolete operations cost less than $2 billion a year, and keep Mac's ghost quiet.@@@@1@15@@oe@2-2-2013
22112007@unknown@formal@none@1@S@That's about all it costs to appease Adm. Erich Raeder's ghost.@@@@1@11@@oe@2-2-2013
22112008@unknown@formal@none@1@S@In 1941, Raeder and the German navy threatened to attack the Panama Canal, so we created the Southern Command in Panama.@@@@1@21@@oe@2-2-2013
22112009@unknown@formal@none@1@S@The Southern Command has grown even bigger since the war because Raeder's ghost sometimes runs through the E ring dressed like Gen. Noriega.@@@@1@23@@oe@2-2-2013
22112010@unknown@formal@none@1@S@The Command's huge bureaucracy is needed to analyze whether leaders of coups against Gen. Noriega meet the War Powers Act's six points, Cap Weinberger's seven points, the Intelligence Committee's 32 points and Woodrow Wilson's 14 points necessary to justify U.S. support.@@@@1@41@@oe@2-2-2013
22112011@unknown@formal@none@1@S@So far no one has.@@@@1@5@@oe@2-2-2013
22112012@unknown@formal@none@1@S@The ghost of the Soviet brigade discovered in Cuba back in the '70s costs just a few hundred million: the price of the Caribbean Command in Key West that President Carter created in 1980.@@@@1@34@@oe@2-2-2013
22112013@unknown@formal@none@1@S@The brigade hasn't been heard from since, but we keep the staff around just in case.@@@@1@16@@oe@2-2-2013
22112014@unknown@formal@none@1@S@George Marshall's ghost is much more difficult to keep happy.@@@@1@10@@oe@2-2-2013
22112015@unknown@formal@none@1@S@We keep a lot of shrines to him around the Pentagon: statues, busts, relics and such.@@@@1@16@@oe@2-2-2013
22112016@unknown@formal@none@1@S@The Army headquarters on the third deck of the Pentagon used to burn a lot of incense to him, but the Navy headquarters on the fourth deck made them stop it.@@@@1@31@@oe@2-2-2013
22112017@unknown@formal@none@1@S@You see, Marshall had this thing about the Navy and the Marines -- he wanted to make them part of the Army but Secretary of the Navy James Forrestal blocked him.@@@@1@31@@oe@2-2-2013
22112018@unknown@formal@none@1@S@Now his ghost won't let up till it's done.@@@@1@9@@oe@2-2-2013
22112019@unknown@formal@none@1@S@To keep him quiet we invent a new unified command every year or so run by the Army or the Air Force and put more of the Navy and Marines under it.@@@@1@32@@oe@2-2-2013
22112020@unknown@formal@none@1@S@But we still hear him moaning at night because the Navy has a few ships left, and to satisfy him the Navy's sea lift forces were given to a new Air Force bureaucracy in Illinois, its space operations to another command in Colorado, the frogmen to a new Army bureaucracy in Fort Bragg, and the Navy's Indian Ocean and Persian Gulf forces to an Army bureaucracy in Florida.@@@@1@68@@oe@2-2-2013
22112021@unknown@formal@none@1@S@Which brings up the worst and meanest ghost of all -- the ghost of the shah of Iran.@@@@1@18@@oe@2-2-2013
22112022@unknown@formal@none@1@S@When the shah died, President Carter was so scared that the shah's ghost would blame him for shoving him out to make way for the ayatollah that he declared the Carter Doctrine.@@@@1@32@@oe@2-2-2013
22112023@unknown@formal@none@1@S@Mr. Carter said he would go to war to stop anyone from trying to grab Iran.@@@@1@16@@oe@2-2-2013
22112024@unknown@formal@none@1@S@But that ghost wouldn't settle for words, he wanted money and people -- lots.@@@@1@14@@oe@2-2-2013
22112025@unknown@formal@none@1@S@So Mr. Carter formed three new Army divisions and gave them to a new bureaucracy in Tampa called the Rapid Deployment Force.@@@@1@22@@oe@2-2-2013
22112026@unknown@formal@none@1@S@But that ghost wasn't fooled; he knew the RDF was neither rapid nor deployable nor a force -- even though it cost $8 billion or $10 billion a year.@@@@1@29@@oe@2-2-2013
22112027@unknown@formal@none@1@S@After Mr. Carter was defeated in 1980, the shah's ghost claimed the credit and then went after President Reagan and Cap Weinberger.@@@@1@22@@oe@2-2-2013
22112028@unknown@formal@none@1@S@I saw what he did to them firsthand.@@@@1@8@@oe@2-2-2013
22112029@unknown@formal@none@1@S@It made my shoelaces dance with terror.@@@@1@7@@oe@2-2-2013
22112030@unknown@formal@none@1@S@Why, he used to lay in wait for Cap; suddenly he'd leap from behind some statue of Marshall onto Cap's chest and grab him by the throat and choke him till he coughed up an additional $2 billion or so.@@@@1@40@@oe@2-2-2013
22112031@unknown@formal@none@1@S@Cap added four more divisions to the Army, two active and two reserve; two carrier groups to the Navy; a division -- equivalent to the Marines; and the C-5B, KC-10, C-17 and a thousand tactical aircraft to the Air Force.@@@@1@40@@oe@2-2-2013
22112032@unknown@formal@none@1@S@He bought $4 billion in prepositioning ships and $7 billion in ammo and equipment to fill them, and parked them at a new $6 billion base at Diego Garcia in the middle of the Indian Ocean.@@@@1@36@@oe@2-2-2013
22112033@unknown@formal@none@1@S@He dedicated all these new forces to the Persian Gulf.@@@@1@10@@oe@2-2-2013
22112034@unknown@formal@none@1@S@One night both Marshall's ghost and the shah's ghost together caught Cap and threw him to the ground.@@@@1@18@@oe@2-2-2013
22112035@unknown@formal@none@1@S@Before they let him go he added a thousand bureaucrats to the RDF in Tampa and renamed it Central Command.@@@@1@20@@oe@2-2-2013
22112036@unknown@formal@none@1@S@He gave those bureaucrats charge of all naval operations in the Persian Gulf and Indian Ocean.@@@@1@16@@oe@2-2-2013
22112037@unknown@formal@none@1@S@Marshall figured it would be good training for those soldiers -- someday maybe they would get the whole Navy.@@@@1@19@@oe@2-2-2013
22112038@unknown@formal@none@1@S@They had fun moving the carriers around, but it turned out that they had forgotten all about mine sweepers.@@@@1@19@@oe@2-2-2013
22112039@unknown@formal@none@1@S@But the shah still kept leaping out at Cap, so Cap bought a hundred merchant ships more and $7 billion of loading barges, ramps, etc., in order that those seven new Army divisions and three Marine brigades could unload from all those new ships and aircraft and go to war in the Zagros mountains.@@@@1@54@@oe@2-2-2013
22112040@unknown@formal@none@1@S@Then suddenly Ike's ghost came to visit and said, "What the hell are you doing planning for a land war in Asia 12,000 miles away?@@@@1@25@@oe@2-2-2013
22112041@unknown@formal@none@1@S@We'd get our asses kicked."@@@@1@5@@oe@2-2-2013
22112042@unknown@formal@none@1@S@Lucky for Cap, Ike was easygoing and soon went away, while the shah -- he kept coming back.@@@@1@18@@oe@2-2-2013
22112043@unknown@formal@none@1@S@So the U.S. found itself paying about $2 billion in baksheesh to various Arab potentates for basing rights around the Indian Ocean.@@@@1@22@@oe@2-2-2013
22112044@unknown@formal@none@1@S@We had great success in Somalia.@@@@1@6@@oe@2-2-2013
22112045@unknown@formal@none@1@S@But then it turned out that President Siad Barrah was not at all a nice person and the Navy pointed out that the base he promised us in Berbera had silted up about a hundred years ago and anyway was 1,244 miles from the mouth of the Gulf.@@@@1@48@@oe@2-2-2013
22112046@unknown@formal@none@1@S@(But who's counting.)@@@@1@3@@oe@2-2-2013
22112047@unknown@formal@none@1@S@Still, Berbera was the best we could get, so we stay in bed with President Barrah.@@@@1@16@@oe@2-2-2013
22112048@unknown@formal@none@1@S@All these reports about him committing genocide are probably exaggerated anyway.@@@@1@11@@oe@2-2-2013
22112049@unknown@formal@none@1@S@But wouldn't you know, now that we are spending jillions of dollars, and have built those new divisions and new air wings, and have positioned all these ships and supplies to fight the Russians in Iran, the Russians seem to have lost interest in the whole subject.@@@@1@47@@oe@2-2-2013
22112050@unknown@formal@none@1@S@Meanwhile, Congress is cutting huge chunks out of the rest of the defense budget.@@@@1@14@@oe@2-2-2013
22112051@unknown@formal@none@1@S@Predictably, some Navy guys said: "Do we still need to keep all 18 Army divisions on active duty and all those extra land-based aircraft without bases and all those Army guys playing admiral in Tampa?@@@@1@35@@oe@2-2-2013
22112052@unknown@formal@none@1@S@Couldn't we save $20 billion or $30 billion a year by shifting that stuff to the reserves?@@@@1@17@@oe@2-2-2013
22112053@unknown@formal@none@1@S@And why not save the costs of a thousand bureaucrats by abolishing Central Command and putting responsibility for Gulf naval operations back where it belongs, afloat with the task force commander in the Gulf?@@@@1@34@@oe@2-2-2013
22112054@unknown@formal@none@1@S@And where were all our handsomely paid Indian Ocean allies last year when our convoys were being attacked?"@@@@1@18@@oe@2-2-2013
22112055@unknown@formal@none@1@S@Questions like that really stir up Marshall's ghost.@@@@1@8@@oe@2-2-2013
22112056@unknown@formal@none@1@S@He appeared late one night in the bedroom of the new defense secretary, Dick Cheney.@@@@1@15@@oe@2-2-2013
22112057@unknown@formal@none@1@S@Marshall came clanking in like Marley's ghost dragging those chains of brigades and air wings and links with Arab despots.@@@@1@20@@oe@2-2-2013
22112058@unknown@formal@none@1@S@He wouldn't leave until Mr. Cheney promised to do whatever the Pentagon systems analysts told him.@@@@1@16@@oe@2-2-2013
22112059@unknown@formal@none@1@S@So next day Mr. Cheney went out and did just that: He canceled the 600-ship Navy and cut back one carrier and 20 frigates.@@@@1@24@@oe@2-2-2013
22112060@unknown@formal@none@1@S@Then he canceled production of the Navy's most important carrier aircraft, the F-14 and the A-6.@@@@1@16@@oe@2-2-2013
22112061@unknown@formal@none@1@S@On the other hand, Mr. Cheney retained all those new land forces.@@@@1@12@@oe@2-2-2013
22112062@unknown@formal@none@1@S@Marshall's ghost is satisfied for now, but he'll be back.@@@@1@10@@oe@2-2-2013
22112063@unknown@formal@none@1@S@What with Halloween coming and bigger defense cuts looming, more and more Pentagon bureaucrats are crawling under their desks.@@@@1@19@@oe@2-2-2013
22112064@unknown@formal@none@1@S@They know that they can hold off the ghosts only a little while longer by cutting carriers and ships.@@@@1@19@@oe@2-2-2013
22112065@unknown@formal@none@1@S@Then the whole thing will start to collapse, just as it did in the 1970s, and the ghosts and banshees will be howling through the place turning people's hair white.@@@@1@30@@oe@2-2-2013
22112066@unknown@formal@none@1@S@Gives me the willies just thinking about it.@@@@1@8@@oe@2-2-2013
22112067@unknown@formal@none@1@S@Mr. Lehman, a Reagan Navy secretary, is a managing director of PaineWebber.@@@@1@12@@oe@2-2-2013
22113001@unknown@formal@none@1@S@The metal and marble lobby of CenTrust Bank's headquarters is grander than your average savings and loan.@@@@1@17@@oe@2-2-2013
22113002@unknown@formal@none@1@S@For one thing, there is an old master on the wall -- "Samuel Anointing David," a big baroque canvas painted by Mattia Preti, a 17th-century Neapolitan.@@@@1@26@@oe@2-2-2013
22113003@unknown@formal@none@1@S@At the moment, however, the painting is a nagging reminder of the problems that have engulfed CenTrust and its flamboyant chairman and chief executive, David L. Paul.@@@@1@27@@oe@2-2-2013
22113004@unknown@formal@none@1@S@In an international buying spree that began barely two years ago, Mr. Paul amassed a collection of about 30 pre-18th-century works, including the Preti, at a total cost of $28 million.@@@@1@31@@oe@2-2-2013
22113005@unknown@formal@none@1@S@By midnight Oct. 6, all of the paintings were supposed to have been sold off, under orders from Florida's comptroller, whose office regulates the state's S&Ls.@@@@1@26@@oe@2-2-2013
22113006@unknown@formal@none@1@S@CenTrust didn't meet the deadline.@@@@1@5@@oe@2-2-2013
22113007@unknown@formal@none@1@S@The collection was at the heart of a grandiose plan Mr. Paul had in which the art was to do double duty -- as an investment for CenTrust and as decoration for the S&L's new office tower, designed by I.M. Pei.@@@@1@41@@oe@2-2-2013
22113008@unknown@formal@none@1@S@The rub is that the $28 million was plucked from the funds of this federally insured institution even as CenTrust was losing money hand over fist.@@@@1@26@@oe@2-2-2013
22113009@unknown@formal@none@1@S@Mr. Paul had no right to buy art for the S&L in the first place -- it isn't on the comptroller's "permissible" list -- without seeking a special dispensation, which he did not do.@@@@1@34@@oe@2-2-2013
22113010@unknown@formal@none@1@S@Besides that, some of the paintings that were to grace the walls of CenTrust actually ended up hanging in the chairman's estate on La Gorce Isle off Miami Beach.@@@@1@29@@oe@2-2-2013
22113011@unknown@formal@none@1@S@Last spring, the comptroller's office called a halt to Mr. Paul's fling, giving him six months to sell the paintings.@@@@1@20@@oe@2-2-2013
22113012@unknown@formal@none@1@S@The acquisitions, officials said in a letter to Mr. Paul, were "unsafe, unsound and unauthorized."@@@@1@15@@oe@2-2-2013
22113013@unknown@formal@none@1@S@So far, Mr. Paul has unloaded but three of his masterpieces, he won't say to whom.@@@@1@16@@oe@2-2-2013
22113014@unknown@formal@none@1@S@The comptroller's office says it is "monitoring the situation."@@@@1@9@@oe@2-2-2013
22113015@unknown@formal@none@1@S@Though the agency could remove Mr. Paul, it has no current intention to do that.@@@@1@15@@oe@2-2-2013
22113016@unknown@formal@none@1@S@"It's not like selling Chevrolets," Mr. Paul says, as he takes a drag on a goldbanded St. Moritz cigarette.@@@@1@19@@oe@2-2-2013
22113017@unknown@formal@none@1@S@"The last six months has established the quality of the collection.@@@@1@11@@oe@2-2-2013
22113018@unknown@formal@none@1@S@There's no fire sale here."@@@@1@5@@oe@2-2-2013
22113019@unknown@formal@none@1@S@Despite Mr. Paul's characteristic hauteur, the 50-year-old, chain-smoking dynamo is finding that getting CenTrust -- Florida's largest thrift institution -- out of its riskiest investments is much tougher than getting into them had been.@@@@1@34@@oe@2-2-2013
22113020@unknown@formal@none@1@S@Paintings are just part of the picture.@@@@1@7@@oe@2-2-2013
22113021@unknown@formal@none@1@S@Although Mr. Paul has pared a $1.35 billion junk-bond portfolio to less than $900 million since April, the high-yield debt market has plummeted.@@@@1@23@@oe@2-2-2013
22113022@unknown@formal@none@1@S@Divesting itself of what is left, as is required of all thrift institutions by July 1994 under the new federal S&L bailout law, may well prove difficult.@@@@1@27@@oe@2-2-2013
22113023@unknown@formal@none@1@S@And CenTrust has other problems.@@@@1@5@@oe@2-2-2013
22113024@unknown@formal@none@1@S@Late last week federal regulators ordered the thrift institution to stop paying dividends on its preferred stock -- a move that suggests deep concern about an institution.@@@@1@27@@oe@2-2-2013
22113025@unknown@formal@none@1@S@Mr. Paul has a plan to bring in $150 million by selling off 63 of CenTrust's 71 branches, but it has yet to be approved by regulators.@@@@1@27@@oe@2-2-2013
22113026@unknown@formal@none@1@S@It is Mr. Paul's art venture, however, that has drawn the most attention from investors and regulators, not to mention galleries throughout the world.@@@@1@24@@oe@2-2-2013
22113027@unknown@formal@none@1@S@Embittered shareholders (some of whom are suing) say the chairman and his collection epitomize the excesses of speculation that set off the national S&L crisis.@@@@1@25@@oe@2-2-2013
22113028@unknown@formal@none@1@S@(CenTrust shares have fallen sharply in price from a high of $15.125 in 1986 to close yesterday at $2.875.)@@@@1@19@@oe@2-2-2013
22113029@unknown@formal@none@1@S@Gallery directors, meanwhile, say Mr. Paul and others of his ilk have left an indelible mark on the art world -- and not for the better.@@@@1@26@@oe@2-2-2013
22113030@unknown@formal@none@1@S@Collectors don't say "It's a van Gogh" anymore, laments Harry Brooks, the president of Wildenstein & Co., a New York gallery.@@@@1@21@@oe@2-2-2013
22113031@unknown@formal@none@1@S@"They say, `Johnny Payson got $53 million for his, so certainly $10 million isn't too much for mine.'@@@@1@18@@oe@2-2-2013
22113032@unknown@formal@none@1@S@The great collectors we depended on, such as Paul Mellon or Norton Simon, have stopped buying, and the new buyers are brilliant men who made money in the stock market or in takeovers and rushed into collecting. . . ."@@@@1@40@@oe@2-2-2013
22113033@unknown@formal@none@1@S@Mr. Payson, an art dealer and collector, sold Vincent van Gogh's "Irises" at a Sotheby's auction in November 1987 to Australian businessman Alan Bond.@@@@1@24@@oe@2-2-2013
22113034@unknown@formal@none@1@S@(Trouble is, Mr. Bond has yet to pay up, and until he does, Sotheby's has the painting under lock and key.)@@@@1@21@@oe@2-2-2013
22113035@unknown@formal@none@1@S@When Mr. Paul moved in on the art market, he let it be known that virtually no piece was too costly to be considered by CenTrust.@@@@1@26@@oe@2-2-2013
22113036@unknown@formal@none@1@S@He established his reputation as a freespender in January last year at Sotheby's auction of the Linda and Gerald Guterman collection in New York.@@@@1@24@@oe@2-2-2013
22113037@unknown@formal@none@1@S@There, on one of his first shopping trips, Mr. Paul picked up several paintings at stunning prices.@@@@1@17@@oe@2-2-2013
22113038@unknown@formal@none@1@S@He paid $2.2 million, for instance, for a still life by Jan Jansz. den Uyl that was expected to fetch perhaps $700,000.@@@@1@22@@oe@2-2-2013
22113039@unknown@formal@none@1@S@The price paid was a record for the artist.@@@@1@9@@oe@2-2-2013
22113040@unknown@formal@none@1@S@(Some 64% of items offered at the Guterman auction were sold, at an average price of $343,333.@@@@1@17@@oe@2-2-2013
22113041@unknown@formal@none@1@S@The rest were withdrawn for lack of acceptable bids.)@@@@1@9@@oe@2-2-2013
22113042@unknown@formal@none@1@S@Afterward, Mr. Paul is said by Mr. Guterman to have phoned Mr. Guterman, the New York developer selling the collection, and gloated.@@@@1@22@@oe@2-2-2013
22113043@unknown@formal@none@1@S@"He says he `stole them,'" recalls Mr. Guterman.@@@@1@8@@oe@2-2-2013
22113044@unknown@formal@none@1@S@"And he tells me, `If you want to see your paintings, you'll have to come to my house in Florida.'"@@@@1@20@@oe@2-2-2013
22113045@unknown@formal@none@1@S@Mr. Paul denies phoning and gloating.@@@@1@6@@oe@2-2-2013
22113046@unknown@formal@none@1@S@"It's just not true," he says.@@@@1@6@@oe@2-2-2013
22113047@unknown@formal@none@1@S@Mr. Paul quickly became more aggressive in his collecting, with the help of George Wachter, a Sotheby's expert in old masters whom he met at an exhibition of the Guterman items.@@@@1@31@@oe@2-2-2013
22113048@unknown@formal@none@1@S@Mr. Wachter, who became his principal adviser, searched galleries in London, Paris and Monaco.@@@@1@14@@oe@2-2-2013
22113049@unknown@formal@none@1@S@And, according to one dealer, Mr. Wachter had a penchant for introducing Mr. Paul with the phrase: "He can buy anything."@@@@1@21@@oe@2-2-2013
22113050@unknown@formal@none@1@S@Nicholas Hall, the president of the Colnaghi U.S.A. Ltd. gallery in New York, sold Mr. Paul "Abraham and Sarah in the Wilderness" by Giovanni Battista Tiepolo.@@@@1@26@@oe@2-2-2013
22113051@unknown@formal@none@1@S@Mr. Hall says Mr. Paul "was known to spend a lot of money.@@@@1@13@@oe@2-2-2013
22113052@unknown@formal@none@1@S@People were interested in seeing him, but it was recognized that the route was through Sotheby's and particularly George Wachter."@@@@1@20@@oe@2-2-2013
22113053@unknown@formal@none@1@S@Mr. Paul thus developed a close, symbiotic relationship with Sotheby's.@@@@1@10@@oe@2-2-2013
22113054@unknown@formal@none@1@S@Mr. Paul was eager to assemble a collection for the headquarters CenTrust has been moving into for the greater part of a year.@@@@1@23@@oe@2-2-2013
22113055@unknown@formal@none@1@S@Sotheby's, the auction house founded in London 1744 and now under the umbrella of Sotheby's Holdings Inc., was hoping to stir up interest in old masters as it strove to build its U.S. business.@@@@1@34@@oe@2-2-2013
22113056@unknown@formal@none@1@S@European dealers continued to dominate the action in old masters, which Sotheby's North America had lately been touting in this country.@@@@1@21@@oe@2-2-2013
22113057@unknown@formal@none@1@S@For several months, there was optimism all around.@@@@1@8@@oe@2-2-2013
22113058@unknown@formal@none@1@S@Last October, Mr. Paul paid out $12 million of CenTrust's cash -- plus a $1.2 million commission -- for "Portrait of a Man as Mars."@@@@1@25@@oe@2-2-2013
22113059@unknown@formal@none@1@S@The painting, attributed to Flemish artist Peter Paul Rubens, was purchased privately through Sotheby's, not at auction.@@@@1@17@@oe@2-2-2013
22113060@unknown@formal@none@1@S@In March 1989, just 15 months into his campaign, Mr. Paul was named by Art & Antiques magazine as one of the top 100 individual collectors in the U.S.@@@@1@29@@oe@2-2-2013
22113061@unknown@formal@none@1@S@"An unknown quantity to most of the art world, Paul is no stranger to lavish spending," the magazine said, noting that he doesn't stop at paint on canvas but also spends big on art you can eat.@@@@1@37@@oe@2-2-2013
22113062@unknown@formal@none@1@S@"He recently bid $30,000 at a Paris charity auction for a dinner cooked by six of the world's great chefs, but the final party cost closer to $100,000."@@@@1@28@@oe@2-2-2013
22113063@unknown@formal@none@1@S@(Mr. Paul says it wasn't that high.)@@@@1@7@@oe@2-2-2013
22113064@unknown@formal@none@1@S@The art collection might have come to rival the Medicis' had the Florida comptroller's office not got wind of Mr. Paul's aesthetic adventure.@@@@1@23@@oe@2-2-2013
22113065@unknown@formal@none@1@S@In its letter to him, dated March 2 and shared with reporters, Alex Hager, the chief of the thrift-institution bureau in the comptroller's office, expressed puzzlement that the S&L could be so profligate when it had reported losses of more than $13 million in its two preceding quarters.@@@@1@48@@oe@2-2-2013
22113066@unknown@formal@none@1@S@The state gave CenTrust 30 days to sell the Rubens.@@@@1@10@@oe@2-2-2013
22113067@unknown@formal@none@1@S@The comptroller's office eventually extended the deadline to six months but broadened its demands, ordering that the "book value of the collection {be} reduced to zero."@@@@1@26@@oe@2-2-2013
22113068@unknown@formal@none@1@S@In other words: Get rid of all the pictures.@@@@1@9@@oe@2-2-2013
22113069@unknown@formal@none@1@S@The state obliquely noted that unsafe banking practices are grounds for removing an officer or director and closed with the admonition to Mr. Paul: "Govern yourself accordingly."@@@@1@27@@oe@2-2-2013
22113070@unknown@formal@none@1@S@The state agency was particularly vexed to learn that the Rubens and a half-dozen other paintings listed among the bank's "furniture and fixtures," were actually hanging in the chairman's house.@@@@1@30@@oe@2-2-2013
22113071@unknown@formal@none@1@S@Mr. Paul says that at one point he did indeed have eight or nine of the paintings at home and that the rest were in storage at Sotheby's.@@@@1@28@@oe@2-2-2013
22113072@unknown@formal@none@1@S@He explains that he was "merely storing the paintings at home -- with some display -- because of the special dehumidified environment" required for their safekeeping, until CenTrust's new building was ready for them.@@@@1@34@@oe@2-2-2013
22113073@unknown@formal@none@1@S@Still, the incident was embarrassing.@@@@1@5@@oe@2-2-2013
22113074@unknown@formal@none@1@S@It came on the heels of a number of local newspaper articles suggesting that Mr. Paul has benefited handsomely from his association with CenTrust.@@@@1@24@@oe@2-2-2013
22113075@unknown@formal@none@1@S@For instance, he got a $3 million loan from the S&L, negotiated at a below-market rate.@@@@1@16@@oe@2-2-2013
22113076@unknown@formal@none@1@S@He owns 43% of CenTrust's shares.@@@@1@6@@oe@2-2-2013
22113077@unknown@formal@none@1@S@Adding to Mr. Paul's problems, dealers (some with vested interests) insist that he, relying rather too heavily on Sotheby's advice, paid much too much for several pieces in the CenTrust collection.@@@@1@31@@oe@2-2-2013
22113078@unknown@formal@none@1@S@The $12 million lavished on the Rubens, for example, was a record price for the artist and maybe twice its value, given a dispute among scholars about its provenance.@@@@1@29@@oe@2-2-2013
22113079@unknown@formal@none@1@S@David Tunick, the president of David Tunick Inc., a New York gallery, says scholars question the authenticity of the Rubens.@@@@1@20@@oe@2-2-2013
22113080@unknown@formal@none@1@S@It may have been painted instead by a Rubens associate.@@@@1@10@@oe@2-2-2013
22113081@unknown@formal@none@1@S@"The feeling among many experts on the commercial side is that the price paid at the time was excessive in any event," Mr. Tunick says.@@@@1@25@@oe@2-2-2013
22113082@unknown@formal@none@1@S@"It sounds like with the Rubens he got absolutely taken to the cleaners."@@@@1@13@@oe@2-2-2013
22113083@unknown@formal@none@1@S@Victor Wiener, the executive director of the Appraisers Association of America, agrees that Mr. Paul paid very dearly for the Rubens and adds that getting rid of it any time soon for a similar sum would be quite a feat.@@@@1@40@@oe@2-2-2013
22113084@unknown@formal@none@1@S@"It's not beyond credibility the Rubens will someday be worth $12 million, but whether it could be sold for that amount tomorrow remains to be seen."@@@@1@26@@oe@2-2-2013
22113085@unknown@formal@none@1@S@Still, predicting is tricky.@@@@1@4@@oe@2-2-2013
22113086@unknown@formal@none@1@S@"I'm forever dumbfounded by what I see making these high prices."@@@@1@11@@oe@2-2-2013
22113087@unknown@formal@none@1@S@Jonathan H. Kress, the son of the painting's former owner, Mrs. Rush Kress, dismisses the price talk as "sour grapes."@@@@1@20@@oe@2-2-2013
22113088@unknown@formal@none@1@S@Dealers contemptuous of the purchase price, he says, were themselves interested in buying the Rubens but lost out.@@@@1@18@@oe@2-2-2013
22113089@unknown@formal@none@1@S@Mr. Paul, for his part, defends the Rubens price, saying a lot of the experts have never seen the thing itself.@@@@1@21@@oe@2-2-2013
22113090@unknown@formal@none@1@S@"Most of them weren't even born the last time the painting was displayed publicly," he says.@@@@1@16@@oe@2-2-2013
22113091@unknown@formal@none@1@S@Art prices are skyrocketing, but a good deal of legerdemain is involved in compiling statistics on sales.@@@@1@17@@oe@2-2-2013
22113092@unknown@formal@none@1@S@Salomon Brothers Inc., the investment-banking firm, in its annual tally of investment returns, reported that old masters appreciated 51% in the year ended June 1, the greatest return of any of 13 assets it tracked.@@@@1@35@@oe@2-2-2013
22113093@unknown@formal@none@1@S@(Impressionist and modern paintings, not tracked by Salomon, are ranked even higher at 74% by Sotheby's.)@@@@1@16@@oe@2-2-2013
22113094@unknown@formal@none@1@S@Salomon, moreover, gets its data on art appreciation from Sotheby's, whose prices go up with clients like Mr. Paul in its thrall.@@@@1@22@@oe@2-2-2013
22113095@unknown@formal@none@1@S@The percentages omit from consideration the many paintings that go begging at auction.@@@@1@13@@oe@2-2-2013
22113096@unknown@formal@none@1@S@Art indexes track winners, not losers.@@@@1@6@@oe@2-2-2013
22113097@unknown@formal@none@1@S@But art that has fallen sharply in value is rarely put up for sale.@@@@1@14@@oe@2-2-2013
22113098@unknown@formal@none@1@S@Also, at any of Sotheby's auctions of old masters, roughly one-third to one-fifth of what is offered doesn't sell at any price.@@@@1@22@@oe@2-2-2013
22113099@unknown@formal@none@1@S@It's not that there aren't any bids, but the bids don't meet the minimum "reserve" prices set by the sellers.@@@@1@20@@oe@2-2-2013
22113100@unknown@formal@none@1@S@In January, the Preti painting that now hangs at CenTrust was expected to bring no more than $700,000 at auction until Mr. Paul came along with his $1.15 million.@@@@1@29@@oe@2-2-2013
22113101@unknown@formal@none@1@S@Mr. Hall of the Colnaghi gallery says $1.15 million "would have been an impossible price for anyone to ask for a Preti four years ago."@@@@1@25@@oe@2-2-2013
22113102@unknown@formal@none@1@S@But from his vantage point, it isn't that Mr. Paul, a customer of his too, overpaid for the work, "a gargantuan painting by an artist who is not a household word."@@@@1@31@@oe@2-2-2013
22113103@unknown@formal@none@1@S@(The painting is 10 feet wide, seven feet high.)@@@@1@9@@oe@2-2-2013
22113104@unknown@formal@none@1@S@Rather, "It just shows things have changed."@@@@1@7@@oe@2-2-2013
22113105@unknown@formal@none@1@S@Mr. Paul boasts that he spotted bargains in old masters just before they took an upward turn.@@@@1@17@@oe@2-2-2013
22113106@unknown@formal@none@1@S@"They went up 51% last year, and they'll do it again this year," he declares.@@@@1@15@@oe@2-2-2013
22113107@unknown@formal@none@1@S@"They were a sleeper.@@@@1@4@@oe@2-2-2013
22113108@unknown@formal@none@1@S@Everybody was out buying Monets."@@@@1@5@@oe@2-2-2013
22113109@unknown@formal@none@1@S@Sotheby's vice president Diana Levitt says the auction house has been "assisting" Mr. Paul in selling the paintings.@@@@1@18@@oe@2-2-2013
22113110@unknown@formal@none@1@S@And while Sotheby's chief rivals in the art world, private art dealers, "won't be happy to hear it," she adds, "a number of {the artworks} have already been sold, and at a substantial profit."@@@@1@34@@oe@2-2-2013
22113111@unknown@formal@none@1@S@Mr. Paul claims to have sold three paintings, at more than a 10% profit.@@@@1@14@@oe@2-2-2013
22113112@unknown@formal@none@1@S@That isn't 51%, and the claim isn't documented.@@@@1@8@@oe@2-2-2013
22113113@unknown@formal@none@1@S@He furthermore denies that he relied too heavily on Sotheby's or Mr. Wachter.@@@@1@13@@oe@2-2-2013
22113114@unknown@formal@none@1@S@Mr. Paul says he had not one but four advisers and that he never bid impulsively.@@@@1@16@@oe@2-2-2013
22113115@unknown@formal@none@1@S@After all, he had the counsel of "curators from the most reputable museums in the world."@@@@1@16@@oe@2-2-2013
22113116@unknown@formal@none@1@S@He says he expects to sell the collection -- including the controversial Rubens -- "carefully and prudently, just as it was put together."@@@@1@23@@oe@2-2-2013
22113117@unknown@formal@none@1@S@But in art-world parlance, Mr. Paul's holdings are "burnt."@@@@1@9@@oe@2-2-2013
22113118@unknown@formal@none@1@S@That is, he is being compelled to put them on the market too soon, and has already gotten offers that are less than he paid for some of the art works.@@@@1@31@@oe@2-2-2013
22113119@unknown@formal@none@1@S@"After a few years, you can argue there has been natural appreciation," says Susan Theran, the publisher of Leonard's Annual Price Index of Art Auctions.@@@@1@25@@oe@2-2-2013
22113120@unknown@formal@none@1@S@But quick turnover in artwork is "like pawning your jewelry -- you end up with 50%.@@@@1@16@@oe@2-2-2013
22113121@unknown@formal@none@1@S@People hold out and try to get a bargain."@@@@1@9@@oe@2-2-2013
22113122@unknown@formal@none@1@S@Sotheby's defends itself and Mr. Paul in the matter.@@@@1@9@@oe@2-2-2013
22113123@unknown@formal@none@1@S@Mr. Wachter says Mr. Paul was a quick study who worked intensely and bought the best pictures available at the moment.@@@@1@21@@oe@2-2-2013
22113124@unknown@formal@none@1@S@"On occasion, he paid a high price," Mr. Wachter concedes, but he says those who bid less and dropped out were dealers who would then have marked up the paintings to resell them at a profit to collectors.@@@@1@38@@oe@2-2-2013
22113125@unknown@formal@none@1@S@Naomi Bernhard Levinson, a fine-arts appraiser at Bernhard Associates in San Francisco, considers it "definite conflict of interest for an auction house to both advise a client on purchases and to set price estimates on the paintings to be purchased."@@@@1@40@@oe@2-2-2013
22113126@unknown@formal@none@1@S@Sotheby's, she says, is "wearing both hats."@@@@1@7@@oe@2-2-2013
22113127@unknown@formal@none@1@S@"I can't see why there would be a conflict of interest," says Sotheby's Ms. Levitt.@@@@1@15@@oe@2-2-2013
22113128@unknown@formal@none@1@S@"Estimates are based on the previous price of similar works sold at auction and current market conditions, and are not affected by any knowledge of who the potential buyer could be."@@@@1@31@@oe@2-2-2013
22113129@unknown@formal@none@1@S@Frequently, clients express interest in paintings but don't end up bidding, she adds, "so we don't know who the potential buyer will be."@@@@1@23@@oe@2-2-2013
22113130@unknown@formal@none@1@S@Mr. Paul, in selling off his paintings, is seeking at least a 15% return on the bank's investment, so as to prove that the venture was sound.@@@@1@27@@oe@2-2-2013
22113131@unknown@formal@none@1@S@Mr. Paul says that he has feelers out over much of the globe and that potential buyers from as far away as Japan and Italy have examined the collection.@@@@1@29@@oe@2-2-2013
22113132@unknown@formal@none@1@S@Because of the pressure on CenTrust to sell, dealers and collectors have been trying to get the paintings at bargain-basement prices.@@@@1@21@@oe@2-2-2013
22113133@unknown@formal@none@1@S@But so far, Mr. Paul and his advisers are holding fast.@@@@1@11@@oe@2-2-2013
22113134@unknown@formal@none@1@S@One dealer, Martin Zimet of French & Co. in New York, says he "would have loved to buy" a Jan Davids de Heem painting from the bank.@@@@1@27@@oe@2-2-2013
22113135@unknown@formal@none@1@S@"I tried to steal the picture -- to buy it attractively -- and {Sotheby's} wouldn't do it.@@@@1@17@@oe@2-2-2013
22113136@unknown@formal@none@1@S@They were protecting his interests."@@@@1@5@@oe@2-2-2013
22113137@unknown@formal@none@1@S@Meanwhile, Mr. Paul and CenTrust executives are getting squeamish about opulence.@@@@1@11@@oe@2-2-2013
22113138@unknown@formal@none@1@S@Mr. Paul has been characterized as "the Great Gatsby or something," complains Karen E. Brinkman, an executive vice president of CenTrust.@@@@1@21@@oe@2-2-2013
22113139@unknown@formal@none@1@S@The media, she says, have distorted his personal life.@@@@1@9@@oe@2-2-2013
22113140@unknown@formal@none@1@S@Mr. Paul nods in agreement.@@@@1@5@@oe@2-2-2013
22113141@unknown@formal@none@1@S@"I don't think I have a life style that is, frankly, so flamboyant," he says.@@@@1@15@@oe@2-2-2013
22113142@unknown@formal@none@1@S@But at just that moment, he is interrupted in his office by a servant in tuxedo who pours coffee from silver into a cup of china and dabs the brim with linen.@@@@1@32@@oe@2-2-2013
22113143@unknown@formal@none@1@S@Mr. Paul says, yes, the ceiling in his executive suite is gold-leaf inlay.@@@@1@13@@oe@2-2-2013
22113144@unknown@formal@none@1@S@The offices are done in hardwood and oriental rugs, leatherbound books and, of course, a $12 million Rubens.@@@@1@18@@oe@2-2-2013
22113145@unknown@formal@none@1@S@But he implores that the splendor be played down.@@@@1@9@@oe@2-2-2013
22113146@unknown@formal@none@1@S@"Don't say it's a gold ceiling.@@@@1@6@@oe@2-2-2013
22113147@unknown@formal@none@1@S@Just say the offices are tastefully appointed," he says.@@@@1@9@@oe@2-2-2013
22113148@unknown@formal@none@1@S@"Otherwise, the regulators will take it for decadence, and nowadays everything's got to be pristine."@@@@1@15@@oe@2-2-2013
22113149@unknown@formal@none@1@S@Figures don't include taxes or transaction costs.@@@@1@7@@oe@2-2-2013
22114001@unknown@formal@none@1@S@Companies listed below reported quarterly profit substantially different from the average of analysts' estimates.@@@@1@14@@oe@2-2-2013
22114002@unknown@formal@none@1@S@The companies are followed by at least three analysts, and had a minimum five-cent change in actual earnings per share.@@@@1@20@@oe@2-2-2013
22114003@unknown@formal@none@1@S@Estimated and actual results involving losses are omitted.@@@@1@8@@oe@2-2-2013
22114004@unknown@formal@none@1@S@The percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past 30 days.@@@@1@23@@oe@2-2-2013
22114005@unknown@formal@none@1@S@Otherwise, actual profit is compared with the 300-day estimate.@@@@1@9@@oe@2-2-2013
22115001@unknown@formal@none@1@S@{During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.}@@@@1@23@@oe@2-2-2013
22115002@unknown@formal@none@1@S@CREATIVE ACCOUNTING, mostly by conglomerates, forced CPAs to change their way of setting standards to be followed by corporations reporting financial results, standards that had become all too flexible.@@@@1@29@@oe@2-2-2013
22115003@unknown@formal@none@1@S@The new Financial Accounting Standards Board (FASB) was created in 1972 to replace the Accounting Principles Board of the American Institute of Certified Public Accountants.@@@@1@25@@oe@2-2-2013
22115004@unknown@formal@none@1@S@All of the former board's members were CPAs, provoking conflict-of-interest criticism because they were writing rules while handling clients' books at the same time.@@@@1@24@@oe@2-2-2013
22115005@unknown@formal@none@1@S@The new board's seven-member structure kept four CPAs, but the others were from industry and academia.@@@@1@16@@oe@2-2-2013
22115006@unknown@formal@none@1@S@Francis M. Wheat, a former Securities and Exchange Commission member, headed the panel that had studied the issues for a year and proposed the FASB on March 30, 1972.@@@@1@29@@oe@2-2-2013
22115007@unknown@formal@none@1@S@The former board had produced "21 opinions and 1,000 critics" in its 12-year life, its chairman had conceded.@@@@1@18@@oe@2-2-2013
22115008@unknown@formal@none@1@S@The climate was right for the new FASB.@@@@1@8@@oe@2-2-2013
22115009@unknown@formal@none@1@S@In the late 1960s some CPAs failed to correct such abuses as clients picking permissive rules that hyped earnings and stock prices.@@@@1@22@@oe@2-2-2013
22115010@unknown@formal@none@1@S@And in November 1970 Congress had passed a special act to overrule one board rule.@@@@1@15@@oe@2-2-2013
22115011@unknown@formal@none@1@S@Also, James Needham, an SEC commissioner, in April 1972 had warned that the industry might face a "federal agency writing accounting rules" if they rejected the FASB idea.@@@@1@28@@oe@2-2-2013
22115012@unknown@formal@none@1@S@Keepers of the books, dubbed "figure filberts," loathed the threat.@@@@1@10@@oe@2-2-2013
22115013@unknown@formal@none@1@S@The FASB had its initial meeting on March 28, 1973.@@@@1@10@@oe@2-2-2013
22115014@unknown@formal@none@1@S@On Dec. 13, 1973, it issued its first rule; it required companies to disclose foreign currency translations in U.S. dollars.@@@@1@20@@oe@2-2-2013
22115015@unknown@formal@none@1@S@The FASB since then has issued 102 rules, and some still rile industry.@@@@1@13@@oe@2-2-2013
22115016@unknown@formal@none@1@S@Since late 1987, for example, it has put off a rule dealing with deferred income taxes because of the continuing controversy over the issue.@@@@1@24@@oe@2-2-2013
22116001@unknown@formal@none@1@S@Amcast Industrial Corp. said it plans to repurchase 500,000 shares, or about 7% of its shares outstanding, in open market transactions.@@@@1@21@@oe@2-2-2013
22116002@unknown@formal@none@1@S@The metal products concern currently has 7.2 million common shares outstanding.@@@@1@11@@oe@2-2-2013
22116003@unknown@formal@none@1@S@Amcast previously had said it planned to repurchase shares, but didn't disclose when or how many shares it intended to buy back.@@@@1@22@@oe@2-2-2013
22116004@unknown@formal@none@1@S@The company named Dillon Read & Co. as its exclusive agent for the stock buy-back program.@@@@1@16@@oe@2-2-2013
22117001@unknown@formal@none@1@S@A seat on the Chicago Board of Trade was sold for $390,000, down $5,000 from the previous sale last Tuesday.@@@@1@20@@oe@2-2-2013
22117002@unknown@formal@none@1@S@Seats currently are quoted at $353,500 bid, $405,000 asked.@@@@1@9@@oe@2-2-2013
22117003@unknown@formal@none@1@S@The record price for a full membership on the exchange is $550,000, set Aug. 31, 1987.@@@@1@16@@oe@2-2-2013
22117004@unknown@formal@none@1@S@An associate member seat was sold for $228,000, up $8,000 from the previous sale Oct. 4.@@@@1@16@@oe@2-2-2013
22117005@unknown@formal@none@1@S@Associate member seats currently are quoted at $225,000 bid, $256,000 asked.@@@@1@11@@oe@2-2-2013
22117006@unknown@formal@none@1@S@The record price for associate membership is $275,000, set Aug. 30, 1988.@@@@1@12@@oe@2-2-2013
22118001@unknown@formal@none@1@S@CAE Industries Ltd. said its Link Flight Simulation division was awarded a contract by the U.S. Army for two helicopter simulators, which the company valued at as much as 37 million Canadian dollars (US$31.5 million).@@@@1@35@@oe@2-2-2013
22118002@unknown@formal@none@1@S@CAE said the fixed price for the first of the AH-64 Apache combat mission simulators is C$19 million.@@@@1@18@@oe@2-2-2013
22118003@unknown@formal@none@1@S@It is scheduled for delivery in late 1991.@@@@1@8@@oe@2-2-2013
22118004@unknown@formal@none@1@S@The price of the second simulator ranges between C$16.4 million and C$18 million, CAE said, depending on when the Army exercises its option.@@@@1@23@@oe@2-2-2013
22118005@unknown@formal@none@1@S@CAE is a Toronto-based maker of commercial and military aircraft simulators and training equipment.@@@@1@14@@oe@2-2-2013
22119001@unknown@formal@none@1@S@Helionetics Inc. said it agreed to team with a unit of Minneapolis-based Honeywell Inc. to provide power amplifiers for a new military sonar system being proposed by Honeywell.@@@@1@28@@oe@2-2-2013
22119002@unknown@formal@none@1@S@Total value of the contract could be $100 million, Helionetics said, and work on the project would be about evenly divided.@@@@1@21@@oe@2-2-2013
22119003@unknown@formal@none@1@S@As previously reported, Helionetics emerged from Chapter 11 bankruptcy-law protection in February.@@@@1@12@@oe@2-2-2013
22120001@unknown@formal@none@1@S@This Los Angeles company and its Union Federal Savings Bank subsidiary said more than 99% of their 7 1/4% convertible subordinated debentures due 2011 were tendered for conversion into UnionFed common stock.@@@@1@32@@oe@2-2-2013
22120002@unknown@formal@none@1@S@The conversion increased total equity capital by about $38.5 million to a total of $156.8 million.@@@@1@16@@oe@2-2-2013
22120003@unknown@formal@none@1@S@Union Federal, a federally insured savings bank, has $2.4 billion in assets.@@@@1@12@@oe@2-2-2013
22121001@unknown@formal@none@1@S@David D. Lung was appointed president and chief operating officer of this maker of building materials for manufactured homes and recreational vehicles.@@@@1@22@@oe@2-2-2013
22121002@unknown@formal@none@1@S@As president, Mr. Lung, 42 years old, succeeds his father, Mervin D. Lung, 66, who founded the company in 1959.@@@@1@20@@oe@2-2-2013
22121003@unknown@formal@none@1@S@Mervin Lung remains chairman and chief executive officer.@@@@1@8@@oe@2-2-2013
22121004@unknown@formal@none@1@S@David Lung has been with Patrick since 1970, and has served as vice president for administration and purchasing since 1987.@@@@1@20@@oe@2-2-2013
22122001@unknown@formal@none@1@S@General Dynamics Services Co., a unit of General Dynamics Corp., won a $48.2 million Army contract to establish maintenance facilities for tracked vehicles in Pakistan.@@@@1@25@@oe@2-2-2013
22122002@unknown@formal@none@1@S@Grumman Corp. was given a $15 million Navy contract for aircraft-electronics improvements.@@@@1@12@@oe@2-2-2013
22122003@unknown@formal@none@1@S@Hughes Aircraft Co., a unit of General Motors Corp., got a $10.3 million Air Force contract for airborne-radar equipment.@@@@1@19@@oe@2-2-2013
22123001@unknown@formal@none@1@S@Reynolds Metals Co. said third-quarter net income dropped nearly 10% to $123.7 million, or $2.10 a share, from $137.2 million, or $2.56 a share, a year earlier.@@@@1@27@@oe@2-2-2013
22123002@unknown@formal@none@1@S@The latest earnings reflect an increase of about 5.5 million in common shares outstanding.@@@@1@14@@oe@2-2-2013
22123003@unknown@formal@none@1@S@Revenue rose 3% to $1.52 billion from $1.48 billion.@@@@1@9@@oe@2-2-2013
22123004@unknown@formal@none@1@S@Reynolds is the third big aluminum company since Friday to report disappointing earnings.@@@@1@13@@oe@2-2-2013
22123005@unknown@formal@none@1@S@The No. 1 domestic aluminum producer, Aluminum Co. of America, Friday said its earnings fell 3.2% to $219 million, or $2.46 a share.@@@@1@23@@oe@2-2-2013
22123006@unknown@formal@none@1@S@And Alcan Aluminium Ltd. yesterday reported net income slid 30% to $180 million, or 77 cents a share, from $258 million, or $1.07 a share.@@@@1@25@@oe@2-2-2013
22123007@unknown@formal@none@1@S@Analysts on average had been expecting about $2.70 for Alcoa and $1 for Alcan.@@@@1@14@@oe@2-2-2013
22123008@unknown@formal@none@1@S@"It's a good indication that level of profitability has peaked for the industry," says Vahid Fathi, metals analyst with Prescott, Ball & Turben Inc., who had estimated Reynolds would earn about $2.35 a share.@@@@1@34@@oe@2-2-2013
22123009@unknown@formal@none@1@S@The nation's No. 2 aluminum company said earnings were hurt by lower prices for certain fabricated aluminum products, which typically follow price fluctuations of primary ingots.@@@@1@26@@oe@2-2-2013
22123010@unknown@formal@none@1@S@The base metal price has dropped 30.3% from a year earlier to 78 cents a pound.@@@@1@16@@oe@2-2-2013
22123011@unknown@formal@none@1@S@Much of the price decline has been blamed on a slowing economy and the third quarter is typically the industry's slowest period.@@@@1@22@@oe@2-2-2013
22123012@unknown@formal@none@1@S@But William O. Bourke, chairman and chief executive officer, said the ingot price "appears to have bottomed out."@@@@1@18@@oe@2-2-2013
22123013@unknown@formal@none@1@S@He said shipments are continuing at a "healthy" pace and the company has no excess inventory.@@@@1@16@@oe@2-2-2013
22123014@unknown@formal@none@1@S@Aluminum shipments of 329,600 metric tons were nearly equal to the year-earlier period, the company said.@@@@1@16@@oe@2-2-2013
22123015@unknown@formal@none@1@S@Nevertheless, the company said that in the latest quarter there were increased material and labor costs, including a new employee profit-sharing plan.@@@@1@22@@oe@2-2-2013
22123016@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Reynolds closed at $55.375, up $1.25.@@@@1@15@@oe@2-2-2013
22124001@unknown@formal@none@1@S@No strikeout, but certainly no home run.@@@@1@7@@oe@2-2-2013
22124002@unknown@formal@none@1@S@That's how the stock-picking game is shaping up for the months ahead, according to money managers and a few brokers.@@@@1@20@@oe@2-2-2013
22124003@unknown@formal@none@1@S@Yesterday's 88-point recovery from Friday's megadrop in the Dow Jones industrials had many brokerage houses proclaiming that stocks are a good bargain again.@@@@1@23@@oe@2-2-2013
22124004@unknown@formal@none@1@S@But quite a few money managers aren't buying it.@@@@1@9@@oe@2-2-2013
22124005@unknown@formal@none@1@S@Weakening corporate earnings, they say, are no prescription for a bull market.@@@@1@12@@oe@2-2-2013
22124006@unknown@formal@none@1@S@"The stock market ain't going to do much of anything" for a while, says John Neff of Wellington Management, who runs the $8.3 billion Windsor Fund.@@@@1@26@@oe@2-2-2013
22124007@unknown@formal@none@1@S@He suspects that Friday's market decline may have a second leg, perhaps a 10% to 15% drop later on.@@@@1@19@@oe@2-2-2013
22124008@unknown@formal@none@1@S@Mr. Neff says the stock market has lost some powerful driving forces, namely earnings growth and the "LBO sweepstakes" -- buy-out fever that induced investors to bid up whole groups of stocks, such as media and airlines.@@@@1@37@@oe@2-2-2013
22124009@unknown@formal@none@1@S@After sitting with 20% of his fund in cash before Friday's sell-off, Mr. Neff says he bought "a narrow list of stocks" yesterday.@@@@1@23@@oe@2-2-2013
22124010@unknown@formal@none@1@S@With flat corporate profits on the horizon for 1990, money managers say price-earnings multiples that look cheap today might go on being cheap for a long time.@@@@1@27@@oe@2-2-2013
22124011@unknown@formal@none@1@S@"This is not a grossly overvalued market, but it's not cheap either," says George Collins, president of the mutual fund company T. Rowe Price Associates in Baltimore.@@@@1@27@@oe@2-2-2013
22124012@unknown@formal@none@1@S@According to Institutional Brokers Estimate System, Wall Street market strategists see only a 2.4% jump in company profits in 1990 -- unlike in 1987, when profits a year out looked good (they did soar 36% in 1988).@@@@1@37@@oe@2-2-2013
22124013@unknown@formal@none@1@S@Bulls say the market is an incredible bargain, priced at only about 12 times estimated 1989 earnings for stocks in the Standard & Poor's 500 index.@@@@1@26@@oe@2-2-2013
22124014@unknown@formal@none@1@S@Before the 1987 crash, the P/E was more than 20.@@@@1@10@@oe@2-2-2013
22124015@unknown@formal@none@1@S@The common view, says Abby Cohen, strategist for Drexel Burnham Lambert, is that there will be "mild economic growth, modest profit expansion, and things are going to be hunky-dory.@@@@1@29@@oe@2-2-2013
22124016@unknown@formal@none@1@S@Our view is that we may see a profit decline."@@@@1@10@@oe@2-2-2013
22124017@unknown@formal@none@1@S@Some think investors should sell into rallies.@@@@1@7@@oe@2-2-2013
22124018@unknown@formal@none@1@S@The market "is going to wind down," says Gerald W. Perritt, a Chicago money manager.@@@@1@15@@oe@2-2-2013
22124019@unknown@formal@none@1@S@"Things are a little less overpriced" after Friday's jolt in the market.@@@@1@12@@oe@2-2-2013
22124020@unknown@formal@none@1@S@He expects stocks to decline an additional 5% to 30%, with the Dow perhaps bottoming out between 2000 and 2100 "between now and June."@@@@1@24@@oe@2-2-2013
22124021@unknown@formal@none@1@S@After Friday's decline, Mr. Perritt's firm ran statistical tests on 100 high-quality stocks, using old-fashioned value criteria devised by Benjamin Graham, an analyst and author in the 1930s and 1940s who is widely considered to be the father of modern securities analysis.@@@@1@42@@oe@2-2-2013
22124022@unknown@formal@none@1@S@He found 85 still overvalued and 15 fairly valued.@@@@1@9@@oe@2-2-2013
22124023@unknown@formal@none@1@S@Nicholas Parks, a New York money manager, expects the market to decline about 15%.@@@@1@14@@oe@2-2-2013
22124024@unknown@formal@none@1@S@"I've been two-thirds in cash since July, and I continue to think that having a defensive position is appropriate," he says.@@@@1@21@@oe@2-2-2013
22124025@unknown@formal@none@1@S@Companies that piled on debt in leveraged buy-outs during the past two years "will continue to surface as business problems."@@@@1@20@@oe@2-2-2013
22124026@unknown@formal@none@1@S@"Generalizations about value aren't useful," says New York money manager John LeFrere of Delta Capital Management.@@@@1@16@@oe@2-2-2013
22124027@unknown@formal@none@1@S@For instance, he says, International Business Machines and Unisys might look cheap, but investors might continue to do better with stocks like Walt Disney, Procter & Gamble and Coca-Cola, strong performers in recent years.@@@@1@34@@oe@2-2-2013
22124028@unknown@formal@none@1@S@Money manager Robert Ross, head of Duncan Ross Associates Ltd. in Vancouver, British Columbia, says stocks would have to fall 15% to 20% before they are competitive with less risky investment alternatives.@@@@1@32@@oe@2-2-2013
22124029@unknown@formal@none@1@S@Fredric Russell, a money manager in Tulsa, Okla., says Friday's cave-in "is going to have more of a permanent impact on the psyche of many investors than Wall Street would want to admit."@@@@1@33@@oe@2-2-2013
22124030@unknown@formal@none@1@S@There are still bulls out there.@@@@1@6@@oe@2-2-2013
22124031@unknown@formal@none@1@S@"I still think we will have a 3000 Dow, whether it's six months or 12 months from now I don't know," says David Dreman, managing partner of Dreman Value Management in New York.@@@@1@33@@oe@2-2-2013
22124032@unknown@formal@none@1@S@"We're doing a little buying" in some stocks "that have really been smashed down."@@@@1@14@@oe@2-2-2013
22124033@unknown@formal@none@1@S@Many brokerage house officials also are optimistic.@@@@1@7@@oe@2-2-2013
22124034@unknown@formal@none@1@S@Yesterday, Goldman Sachs, Merrill Lynch and Dean Witter all increased the proportion of assets they recommend investors commit to stocks.@@@@1@20@@oe@2-2-2013
22124035@unknown@formal@none@1@S@Dean Witter now recommends 85%, Goldman 65% and Merrill Lynch 50%.@@@@1@11@@oe@2-2-2013
22124036@unknown@formal@none@1@S@Some investors say Friday's sell-off was a good thing, because it deflated a lot of crazy takeover speculation.@@@@1@18@@oe@2-2-2013
22124037@unknown@formal@none@1@S@"It was a healthy cleansing," says Michael Holland, who runs Salomon Brothers Asset Management in New York.@@@@1@17@@oe@2-2-2013
22124038@unknown@formal@none@1@S@From here out, these investors see a return to old-fashioned investing, based on a company's ability to show profit growth.@@@@1@20@@oe@2-2-2013
22124039@unknown@formal@none@1@S@"The fundamentals are pretty strong," Mr. Dreman says.@@@@1@8@@oe@2-2-2013
22124040@unknown@formal@none@1@S@"I don't see this as a bear market at all.@@@@1@10@@oe@2-2-2013
22124041@unknown@formal@none@1@S@It's a recognition that there was much too much fluff in the LBO market."@@@@1@14@@oe@2-2-2013
22124042@unknown@formal@none@1@S@Friday's big fall was "just a blunder by the stock market," says John Connolly, chief strategist for Dean Witter.@@@@1@19@@oe@2-2-2013
22124043@unknown@formal@none@1@S@"It was an overreaction to an event {the failure of a management and union group to get bank financing for a takeover of UAL} that doesn't mean that much to lots of stocks."@@@@1@33@@oe@2-2-2013
22124044@unknown@formal@none@1@S@Many investors have nagging worries, however.@@@@1@6@@oe@2-2-2013
22124045@unknown@formal@none@1@S@Newspapers are full of headlines about companies defaulting on their debts and banks writing off real estate loans.@@@@1@18@@oe@2-2-2013
22124046@unknown@formal@none@1@S@That hurts investors' confidence in the economy and stocks.@@@@1@9@@oe@2-2-2013
22124047@unknown@formal@none@1@S@Not even all the brokerage firms see clear sailing ahead.@@@@1@10@@oe@2-2-2013
22124048@unknown@formal@none@1@S@"Disappointing profits are likely to get worse in the next two quarters," says Mary Farrell, a market strategist at PaineWebber.@@@@1@20@@oe@2-2-2013
22124049@unknown@formal@none@1@S@She thinks the market could drop about 10% in the next few months, then recover and go higher.@@@@1@18@@oe@2-2-2013
22124050@unknown@formal@none@1@S@Companies with steady earnings growth could do well, she says, while others with high debt or poor earnings could see their shares decline far more than 10%.@@@@1@27@@oe@2-2-2013
22125001@unknown@formal@none@1@S@The turmoil on Wall Street may benefit some retailers attempting to lead leveraged buy-outs of their specialty and department-store chains, investment bankers and retailers said.@@@@1@25@@oe@2-2-2013
22125002@unknown@formal@none@1@S@Managers at five chains have said in recent weeks that they intend to bid for their companies.@@@@1@17@@oe@2-2-2013
22125003@unknown@formal@none@1@S@The chains include Bloomingdale's, owned by Campeau Corp., Toronto; Saks Fifth Avenue and Marshall Field's, owned by B.A.T Industries PLC, London; and B. Altman & Co. and Sakowitz Inc., owned by Hooker Corp., which is now being managed by a court-appointed provisional liquidator.@@@@1@43@@oe@2-2-2013
22125004@unknown@formal@none@1@S@Hooker is based in Sydney, Australia.@@@@1@6@@oe@2-2-2013
22125005@unknown@formal@none@1@S@The combination of so many chains available for sale, the recent failures of such retailing LBO's as Miller & Rhoads Inc. and declining investor confidence will drive down prices, retailing observers said.@@@@1@32@@oe@2-2-2013
22125006@unknown@formal@none@1@S@"The pricing will become more realistic, which should help management," said Bruce Rosenthal, a New York investment banker with Nathan S. Jonas & Co.@@@@1@24@@oe@2-2-2013
22125007@unknown@formal@none@1@S@"Investors aren't going to be throwing money at any of the proposed LBOs, but doing deals on the basis of ridiculous assumptions never made sense, either."@@@@1@26@@oe@2-2-2013
22125008@unknown@formal@none@1@S@Earlier this year, bankers and other investors were willing to provide financing because they assumed there would be major gains in both profitability and sales, Mr. Rosenthal added.@@@@1@28@@oe@2-2-2013
22125009@unknown@formal@none@1@S@Those days are over now, he believes.@@@@1@7@@oe@2-2-2013
22125010@unknown@formal@none@1@S@"Competition from third parties who have cash and are prepared to buy has always existed and will continue," added Mr. Rosenthal.@@@@1@21@@oe@2-2-2013
22125011@unknown@formal@none@1@S@"But when prices were crazy, it was even harder to do an LBO.@@@@1@13@@oe@2-2-2013
22125012@unknown@formal@none@1@S@Bankers believed in the greater-fool theory that says somebody else is always willing to pay more.@@@@1@16@@oe@2-2-2013
22125013@unknown@formal@none@1@S@This is no longer true today."@@@@1@6@@oe@2-2-2013
22125014@unknown@formal@none@1@S@At Saks Fifth Avenue, Paul Leblang, senior vice president, marketing, agreed that lower prices will help his management team in their proposed LBO.@@@@1@23@@oe@2-2-2013
22125015@unknown@formal@none@1@S@"Having to take on less debt would certainly be an advantage," said Mr. Leblang.@@@@1@14@@oe@2-2-2013
22125016@unknown@formal@none@1@S@"It would also help us in our search for equity partners.@@@@1@11@@oe@2-2-2013
22125017@unknown@formal@none@1@S@To make an LBO work, now we are going to need more than just junk bonds.@@@@1@16@@oe@2-2-2013
22125018@unknown@formal@none@1@S@" None believe the proposed management LBOs will be easy to complete, especially at B. Altman & Co., which is under Chapter 11 bankruptcy protection.@@@@1@25@@oe@2-2-2013
22125019@unknown@formal@none@1@S@Not only could the Wall Street gyrations damp Christmas sales if consumers lose confidence in the economy, but potential junk-bond buyers are sure to demand even stronger covenants and greater management equity participation.@@@@1@33@@oe@2-2-2013
22125020@unknown@formal@none@1@S@Further, many institutions today holding troubled retailers' debt securities will be reticent to consider additional retailing investments.@@@@1@17@@oe@2-2-2013
22125021@unknown@formal@none@1@S@"It's called bad money driving out good money," said one retailing observer.@@@@1@12@@oe@2-2-2013
22125022@unknown@formal@none@1@S@"Institutions that usually buy retail paper have to be more concerned."@@@@1@11@@oe@2-2-2013
22125023@unknown@formal@none@1@S@However, the lower prices these retail chains are now expected to bring should make it easier for managers to raise the necessary capital and pay back the resulting debt.@@@@1@29@@oe@2-2-2013
22125024@unknown@formal@none@1@S@In addition, the fall selling season has generally been a good one, especially for those retailers dependent on apparel sales for the majority of their revenues.@@@@1@26@@oe@2-2-2013
22125025@unknown@formal@none@1@S@"What's encouraging about this is that retail chains will be sold on the basis of their sales and earnings, not liquidation values," said Joseph E. Brooks, chairman and chief executive officer of Ann Taylor Inc., a specialty chain.@@@@1@38@@oe@2-2-2013
22125026@unknown@formal@none@1@S@"Retailers who had good track records of producing profits will have a better chance to buy back their companies."@@@@1@19@@oe@2-2-2013
22125027@unknown@formal@none@1@S@Still, most retailing observers expect that all the proposed retailing LBOs will depend partly on the sale of junk bonds, a market already in tumult, in part because of concerns associated with bonds issued by the Federated and Allied units of Campeau.@@@@1@42@@oe@2-2-2013
22125028@unknown@formal@none@1@S@"Prices for retail chains are lower today than they were last week, which will help management," said Gilbert Harrison, chairman of Financo Inc., an investment-banking firm specializing in retailing acquisitions.@@@@1@30@@oe@2-2-2013
22125029@unknown@formal@none@1@S@"But the hurdle of financing still has to be resolved.@@@@1@10@@oe@2-2-2013
22125030@unknown@formal@none@1@S@Potential bondholders will either look for greater equity participation on behalf of management, or insist the equity component of the deals be substantially greater than in the past.@@@@1@28@@oe@2-2-2013
22126001@unknown@formal@none@1@S@Sony Corp. won a pretrial order blocking U.S. sales of Justin Products Inc.'s "My Own" line of portable audio players for children.@@@@1@22@@oe@2-2-2013
22126002@unknown@formal@none@1@S@Judge John E. Sprizzo issued the order in Manhattan federal court, where Sony has accused the tiny company of illegally knocking off the "My First Sony" line.@@@@1@27@@oe@2-2-2013
22126003@unknown@formal@none@1@S@The judge held that the combination of colors used for the Sony products is distinctive and subject to protection under New York state law, rather than federal law.@@@@1@28@@oe@2-2-2013
22126004@unknown@formal@none@1@S@The legal fight was the subject of a Wall Street Journal story yesterday.@@@@1@13@@oe@2-2-2013
22126005@unknown@formal@none@1@S@Justin's attorney, Charles E. Baxley, said Justin would ask an appeals court to set aside the order temporarily, pending an expedited appeal.@@@@1@22@@oe@2-2-2013
22126006@unknown@formal@none@1@S@He also repeated Justin's denial of Sony's charges.@@@@1@8@@oe@2-2-2013
22126007@unknown@formal@none@1@S@"Their likelihood of reversing us is very slim," said Lewis H. Eslinger, Sony's attorney, who said he doubts Justin will go ahead with a trial.@@@@1@25@@oe@2-2-2013
22127001@unknown@formal@none@1@S@CONTINENTAL MORTGAGE & EQUITY TRUST said it will resume dividend payments with a 10-cent-a-share payout on Nov. 6 to shares of record Oct. 25.@@@@1@24@@oe@2-2-2013
22127002@unknown@formal@none@1@S@The Dallas real estate investment trust last paid a dividend on Dec. 31, 1987, when shareholders received $1 a share.@@@@1@20@@oe@2-2-2013
22127003@unknown@formal@none@1@S@Despite continuing troubles with problem assets and nonperforming loans, the trust said it expects to be able to maintain or increase the rate of distributions because of operations of joint-venture properties.@@@@1@31@@oe@2-2-2013
22128001@unknown@formal@none@1@S@A federal appeals court struck down a natural-gas regulation that had prevented pipeline companies from passing to customers part of $1 billion in costs from controversial "take-or-pay" contracts.@@@@1@28@@oe@2-2-2013
22128002@unknown@formal@none@1@S@The court, in a 3-0 ruling, threw out a deadline set by the Federal Energy Regulatory Commission for settling old contract disputes over gas that the pipeline companies reserved but didn't use.@@@@1@32@@oe@2-2-2013
22128003@unknown@formal@none@1@S@FERC's regulation had given pipelines until March 31, 1989, to pass on to customers as much as 50% of the costs of buying out their broken contracts, which were made with producers when gas prices were high and supplies short.@@@@1@40@@oe@2-2-2013
22128004@unknown@formal@none@1@S@A majority of old contracts were renegotiated by the deadline and settled at steep discounts.@@@@1@15@@oe@2-2-2013
22128005@unknown@formal@none@1@S@But pipeline companies estimate they still face $2.4 billion in liabilities from unresolved disputes, including $1 billion they fear they won't be able to pass on to customers.@@@@1@28@@oe@2-2-2013
22128006@unknown@formal@none@1@S@According to industry lawyers, the ruling gives pipeline companies an important second chance to resolve remaining disputes and take advantage of the cost-sharing mechanism.@@@@1@24@@oe@2-2-2013
22128007@unknown@formal@none@1@S@The court left open whether FERC could reimpose a new deadline later.@@@@1@12@@oe@2-2-2013
22128008@unknown@formal@none@1@S@The court, agreeing with pipeline companies, found the March 31 deadline was "arbitrary and capricious" and "highly prejudicial to the bargaining power of pipelines" that were forced to negotiate settlement of the old take-or-pay contracts to meet the deadline.@@@@1@39@@oe@2-2-2013
22128009@unknown@formal@none@1@S@A report last month by the Interstate Natural Gas Association of America found that pipelines' settlement costs had jumped in the three months before the deadline to 39 cents on the dollar, from 22 cents on the dollar in 1988.@@@@1@40@@oe@2-2-2013
22128010@unknown@formal@none@1@S@The court ordered FERC to justify within 60 days not only its cost-sharing deadline, but other major elements of its proposed regulation for introducing more competition into natural-gas transportation.@@@@1@29@@oe@2-2-2013
22128011@unknown@formal@none@1@S@The court also questioned a crediting mechanism that could be used to resolve take-or-pay liabilities.@@@@1@15@@oe@2-2-2013
22128012@unknown@formal@none@1@S@The complex regulation, known in the industry as Order 500, has been hotly contested by all sides, including natural-gas producers, pipelines, local distribution companies and consumers.@@@@1@26@@oe@2-2-2013
22128013@unknown@formal@none@1@S@The court's decision would allow FERC to change some of its provisions, but ensures it will be reviewed again quickly by the court.@@@@1@23@@oe@2-2-2013
22129001@unknown@formal@none@1@S@MEDUSA Corp. said it voluntarily prepaid $7 million on its original $75 million term loan, bringing the total debt reduction for the year to $18 million.@@@@1@26@@oe@2-2-2013
22129002@unknown@formal@none@1@S@After the payment, the Cleveland company owes $57 million on the loan.@@@@1@12@@oe@2-2-2013
22129003@unknown@formal@none@1@S@The cement producer said the payment was made from excess cash flow.@@@@1@12@@oe@2-2-2013
22130001@unknown@formal@none@1@S@NATIONAL INCOME REALTY TRUST said it will resume dividend payments with a 12-cent-a-share dividend to be paid Nov. 6 to shares of record Oct. 25.@@@@1@25@@oe@2-2-2013
22130002@unknown@formal@none@1@S@The mortgage and equity real estate investment trust last paid a dividend on Aug. 1, 1988, when holders received 75 cents a share.@@@@1@23@@oe@2-2-2013
22130003@unknown@formal@none@1@S@Despite continuing troubles with problem properties and nonperforming loans, the Dallas trust said it has rebuilt reserves, abandoned properties with little potential and experienced improved operating results from joint ventures.@@@@1@30@@oe@2-2-2013
22131001@unknown@formal@none@1@S@MLX Corp. said it reached a preliminary agreement with senior lenders to its refrigeration and air-conditioning group to restructure the $188.5 million of credit facilities the lenders provide to the group.@@@@1@31@@oe@2-2-2013
22131002@unknown@formal@none@1@S@MLX, which also makes aircraft and heavy-duty truck parts, said the debt was accumulated during its acquisition of nine businesses that make up the group, the biggest portion of which was related to the 1986 purchase of a Hillman Co. unit.@@@@1@41@@oe@2-2-2013
22131003@unknown@formal@none@1@S@Among other things, the restructured facilities will substantially reduce the group's required amortization of the term loan portion of the credit facilities through September 1992, MLX said.@@@@1@27@@oe@2-2-2013
22131004@unknown@formal@none@1@S@Certain details of the restructured facilities remain to be negotiated.@@@@1@10@@oe@2-2-2013
22131005@unknown@formal@none@1@S@The agreement is subject to completion of a definitive amendment and appropriate approvals.@@@@1@13@@oe@2-2-2013
22131006@unknown@formal@none@1@S@William P. Panny, MLX chairman and chief executive, said the pact "will provide MLX with the additional time and flexibility necessary to complete the restructuring of the company's capital structure."@@@@1@30@@oe@2-2-2013
22131007@unknown@formal@none@1@S@MLX has filed a registration statement with the Securities and Exchange Commission covering a proposed offering of $120 million in long-term senior subordinated notes and warrants.@@@@1@26@@oe@2-2-2013
22132001@unknown@formal@none@1@S@Dow Jones & Co. said it acquired a 15% interest in DataTimes Corp., a subsidiary of Oklahoma Publishing Co., Oklahoma City, that provides electronic research services.@@@@1@26@@oe@2-2-2013
22132002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
22132003@unknown@formal@none@1@S@Customers of either DataTimes or Dow Jones News/Retrieval are able to access the information on both services.@@@@1@17@@oe@2-2-2013
22132004@unknown@formal@none@1@S@Dow Jones is the publisher of The Wall Street Journal.@@@@1@10@@oe@2-2-2013
22133001@unknown@formal@none@1@S@Flowers Industries Inc. said it will report a charge of eight cents to 10 cents a share for its fiscal first quarter, ended Sept. 23, from the sale of two bakeries, in High Point, N.C., and Gadsden, Ala.@@@@1@38@@oe@2-2-2013
22133002@unknown@formal@none@1@S@The convenience-food company said it sold the bakeries to Mills Family Bakery for an undisclosed amount.@@@@1@16@@oe@2-2-2013
22133003@unknown@formal@none@1@S@It said the sales were part of a 1983 Federal Trade Commission Consent Order.@@@@1@14@@oe@2-2-2013
22133004@unknown@formal@none@1@S@A year earlier, Flowers had fiscal first-quarter net income of $8 million, or 23 cents a share, on revenue of $170.4 million.@@@@1@22@@oe@2-2-2013
22134001@unknown@formal@none@1@S@Raw-steel production by the nation's mills decreased 0.8% last week to 1,828,000 tons from 1,843,000 tons the previous week, the American Iron and Steel Institute said.@@@@1@26@@oe@2-2-2013
22134002@unknown@formal@none@1@S@Last week's output rose 1.4% from the 1,802,000 tons produced a year earlier.@@@@1@13@@oe@2-2-2013
22134003@unknown@formal@none@1@S@The industry used 82.2% of its capability last week, compared with 82.8% the previous week and 84% a year ago.@@@@1@20@@oe@2-2-2013
22134004@unknown@formal@none@1@S@The capability utilization rate is a calculation designed to indicate at what percent of its production capability the industry is operating in a given week.@@@@1@25@@oe@2-2-2013
22135001@unknown@formal@none@1@S@Selwyn B. Kossuth was named executive director of the commission, effective early November.@@@@1@13@@oe@2-2-2013
22135002@unknown@formal@none@1@S@Mr. Kossuth, 52 years old, succeeds Ermanno Pascutto, 36, who resigned to join Hong Kong's Securities and Futures Commission.@@@@1@19@@oe@2-2-2013
22135003@unknown@formal@none@1@S@Mr. Kossuth was vice president and director, corporate finance, of Nesbitt Thomson Deacon Inc., a Toronto investment dealer.@@@@1@18@@oe@2-2-2013
22136001@unknown@formal@none@1@S@Dun & Bradstreet Corp.'s Market Data Retrieval unit said it acquired School and College Construction Reports service from Intelligence for Education Inc.@@@@1@22@@oe@2-2-2013
22136002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
22136003@unknown@formal@none@1@S@The service supplies weekly reports on school and college construction plans.@@@@1@11@@oe@2-2-2013
22136004@unknown@formal@none@1@S@Market Data Retrieval is a compiler of educational information and provides related services.@@@@1@13@@oe@2-2-2013
22136005@unknown@formal@none@1@S@Closely held Intelligence in Education, of Larchmont, N.Y., is an educational publisher and consultant.@@@@1@14@@oe@2-2-2013
22136006@unknown@formal@none@1@S@A battle is raging in Venice over plans to have the 1,200-year-old Italian city be the site for a universal exposition in 2000.@@@@1@23@@oe@2-2-2013
22136007@unknown@formal@none@1@S@The plans include a subway system, a congress center, floating trees, fanciful fountains -- and as many as 60,000 additional tourists a day.@@@@1@23@@oe@2-2-2013
22136008@unknown@formal@none@1@S@Expo enthusiasts argue that holding the fair would attract businesses, create jobs and help renovate abandoned sections of town.@@@@1@19@@oe@2-2-2013
22136009@unknown@formal@none@1@S@But opponents fear overcrowding.@@@@1@4@@oe@2-2-2013
22136010@unknown@formal@none@1@S@"This city already has too many tourists, and it can't hold them all," says Pierluigi Beggiato, the president of the Venice hoteliers association.@@@@1@23@@oe@2-2-2013
22136011@unknown@formal@none@1@S@About 40 Italian businesses, including Fiat S.p.A. and Ing. C. Olivetti & Co., have formed a consortium to lobby for holding the expo in Venice.@@@@1@25@@oe@2-2-2013
22136012@unknown@formal@none@1@S@Three gambling casinos have opened in Poland.@@@@1@7@@oe@2-2-2013
22136013@unknown@formal@none@1@S@The three establishments -- two in Warsaw and one in Krakow -- accept only foreign currency and are joint ventures between Polish firms and Western companies.@@@@1@26@@oe@2-2-2013
22136014@unknown@formal@none@1@S@Not all Poles are pleased.@@@@1@5@@oe@2-2-2013
22136015@unknown@formal@none@1@S@"What do we want casinos for when we haven't got anything in the shops?" one housewife asked.@@@@1@17@@oe@2-2-2013
22136016@unknown@formal@none@1@S@But Bogdan Gumkowski, who runs the casino at Warsaw's Marriott Hotel, said the ventures would help Poland service its $39 billion foreign debt by pouring dollars into the state firms in the joint ventures -- the LOT airline and Orbis tourist organization.@@@@1@42@@oe@2-2-2013
22136017@unknown@formal@none@1@S@Algeria plans to increase natural-gas sales to Europe and the U.S.@@@@1@11@@oe@2-2-2013
22136018@unknown@formal@none@1@S@According to the Middle East Economic Survey, the North African nation is holding talks with Italy for adding a fourth pipe to a section of the Trans-Mediterranean pipeline, expanding capacity by up to six billion cubic meters a year from 12.5 billion.@@@@1@42@@oe@2-2-2013
22136019@unknown@formal@none@1@S@Algeria also wants to build a pipeline through Morocco and across the Strait of Gibraltar to supply Spain, France and West Germany with up to 15 billion cubic meters a year by the late 1990s.@@@@1@35@@oe@2-2-2013
22136020@unknown@formal@none@1@S@South Africa's National Union of Mineworkers agreed to suspend the strike by diamond workers and resume negotiations with De Beers Consolidated Mines Ltd. over their wage dispute, De Beers said.@@@@1@30@@oe@2-2-2013
22136021@unknown@formal@none@1@S@It also said the union had agreed to meet the company for further talks tomorrow.@@@@1@15@@oe@2-2-2013
22136022@unknown@formal@none@1@S@The strike at five De Beers mines began last Thursday, with 9,500 out of a total 10,000 NUM members employed on De Beers mines participating, according to the union, while De Beers said there were 7,800 participants.@@@@1@37@@oe@2-2-2013
22136023@unknown@formal@none@1@S@The union has demanded a 37.6% increase in the minimum wage while De Beers's final offer was an increase of 17%.@@@@1@21@@oe@2-2-2013
22136024@unknown@formal@none@1@S@A 35-nation environmental conference opened in Sofia, Bulgaria.@@@@1@8@@oe@2-2-2013
22136025@unknown@formal@none@1@S@The gathering is expected to focus on curbing the fouling of rivers and lakes, limiting damage from industrial accidents and improving the handling of harmful chemicals.@@@@1@26@@oe@2-2-2013
22136026@unknown@formal@none@1@S@West German Environment Minister Klaus Toepfer said Bonn is convinced of the need for cooperation, "especially with our neighbors in the East, because we are directly affected by their ecological progress or lack of it."@@@@1@35@@oe@2-2-2013
22136027@unknown@formal@none@1@S@The U.S. and Canada joined every European country except Albania at the meeting.@@@@1@13@@oe@2-2-2013
22136028@unknown@formal@none@1@S@The Swedish publishers of a new Estonian-language newspaper rushed an extra edition across the Baltic on Oct. 10 after the first run sold out in one day.@@@@1@27@@oe@2-2-2013
22136029@unknown@formal@none@1@S@Editor Hasse Olsson said plans had called for 7,000 copies of the monthly Are Paev (Business Paper) to be sold at newsstands and an additional 3,000 promotion issues to be sent by direct mail.@@@@1@34@@oe@2-2-2013
22136030@unknown@formal@none@1@S@He said 13,000 more copies were sent to Estonia because of strong sales.@@@@1@13@@oe@2-2-2013
22136031@unknown@formal@none@1@S@The Swedish publishing company Bonniers owns 51% of Are Paev, and the Estonian management company Minor owns 49%.@@@@1@18@@oe@2-2-2013
22136032@unknown@formal@none@1@S@Angel Gurria, Mexico's top debt negotiator, said the country's creditor banks are responding positively to Mexico's debt-reduction package.@@@@1@18@@oe@2-2-2013
22136033@unknown@formal@none@1@S@Mr. Gurria's optimism contrasts with some bankers' views that the deal may require a lot of arm twisting by the U.S. Treasury in order to succeed.@@@@1@26@@oe@2-2-2013
22136034@unknown@formal@none@1@S@Mr. Gurria, Mexico's under-secretary of the ministry of finance, met yesterday with European bankers in London, at the half-way point on a so-called road show to market the package around the world.@@@@1@32@@oe@2-2-2013
22136035@unknown@formal@none@1@S@An increasing number of banks appear to be considering the option under the deal whereby they can swap their Mexican loans for 30-year bonds with a face value discounted by 35%, Mr. Gurria said.@@@@1@34@@oe@2-2-2013
22136036@unknown@formal@none@1@S@The other two options consist of swapping loans for bonds with 6.25% interest rates, or providing fresh loans.@@@@1@18@@oe@2-2-2013
22136037@unknown@formal@none@1@S@The accord, which covers $52.7 billion of Mexico's medium- and long-term debt, is expected to go into effect in early@@@@1@20@@oe@2-2-2013
22136038@unknown@formal@none@1@S@China's top film actress, Liu Xiaoqing, paid $4,555 in back taxes and fines in Shandong province, the People's Daily reported.@@@@1@20@@oe@2-2-2013
22136039@unknown@formal@none@1@S@The amount is equal to about 30 years earnings for the average peasant, who makes $145 a year. . . .@@@@1@21@@oe@2-2-2013
22136040@unknown@formal@none@1@S@China will spend $9.45 million for urgent maintenance on Tibet's Potala Palace, former home of the Dalai Lama, the China News Service said.@@@@1@23@@oe@2-2-2013
22136041@unknown@formal@none@1@S@The Dalai Lama, who was just awarded the Nobel Peace Prize, lives in exile in India.@@@@1@16@@oe@2-2-2013
22137001@unknown@formal@none@1@S@George W. Koch, 63 years old, president and chief executive officer of Grocery Manufacturers of America Inc., was elected a director of this maker of spices, seasonings and specialty foods, succeeding Erskin N. White Jr., 65, who resigned.@@@@1@38@@oe@2-2-2013
22138001@unknown@formal@none@1@S@American Business Computer Corp. said it privately placed 1,035,000 common shares at $2.50 a share.@@@@1@15@@oe@2-2-2013
22138002@unknown@formal@none@1@S@The placement was made through Gray Seifert Securities, New York, to institutional investors.@@@@1@13@@oe@2-2-2013
22138003@unknown@formal@none@1@S@Proceeds will be used to commercialize recently patented technology and support the company's international expansion.@@@@1@15@@oe@2-2-2013
22138004@unknown@formal@none@1@S@The company develops and markets products for the food service industry.@@@@1@11@@oe@2-2-2013
22139001@unknown@formal@none@1@S@THE R.H. MACY & CO. department-store chain isn't for sale.@@@@1@10@@oe@2-2-2013
22139002@unknown@formal@none@1@S@In yesterday's edition, it was incorrectly included with a list of New York chains up for sale.@@@@1@17@@oe@2-2-2013
22140001@unknown@formal@none@1@S@Korean car exports have slid about 40% so far this year, but auto makers here aren't panicking.@@@@1@17@@oe@2-2-2013
22140002@unknown@formal@none@1@S@They are enjoying domestic sales that are more than making up for lost overseas sales.@@@@1@15@@oe@2-2-2013
22140003@unknown@formal@none@1@S@South Korean consumers are expected to buy almost 500,000 passenger cars this year, up 60% from 1988.@@@@1@17@@oe@2-2-2013
22140004@unknown@formal@none@1@S@In fact, some auto executives suggest that slackened demand for their cars in the U.S. and Canada is a blessing; otherwise they wouldn't be able to keep up with demand in the more profitable local market.@@@@1@36@@oe@2-2-2013
22140005@unknown@formal@none@1@S@"We are very lucky to easily change an export loss to domestic plus," says Hong Tu Pyo, managing director of domestic marketing for Hyundai Motor Co.@@@@1@26@@oe@2-2-2013
22140006@unknown@formal@none@1@S@As it is, waiting lists of a month aren't unusual for popular models.@@@@1@13@@oe@2-2-2013
22140007@unknown@formal@none@1@S@Demand is so strong that all of the domestic makers -- Hyundai, Kia Motors Corp., Daewoo Motor Co. and even upstart SsangYong Motor Co. -- plan to build more factories.@@@@1@30@@oe@2-2-2013
22140008@unknown@formal@none@1@S@Industry analysts predict that by 1995, South Korea will be building three million cars a year -- about half of that for export.@@@@1@23@@oe@2-2-2013
22140009@unknown@formal@none@1@S@It's an optimistic move in a industry already facing world-wide overcapacity.@@@@1@11@@oe@2-2-2013
22140010@unknown@formal@none@1@S@But South Korean auto makers are confident that the export market will bounce back and that demand in Korea will stay strong.@@@@1@22@@oe@2-2-2013
22140011@unknown@formal@none@1@S@Currently only one in 38 South Koreans owns a car, up from one in 200 a decade ago.@@@@1@18@@oe@2-2-2013
22140012@unknown@formal@none@1@S@"In the year 2000 it will be one car per family.@@@@1@11@@oe@2-2-2013
22140013@unknown@formal@none@1@S@At that point domestic sales will slow down," says Kim Yoon Kwon, director of marketing for Daewoo Motor.@@@@1@18@@oe@2-2-2013
22140014@unknown@formal@none@1@S@The reason for the tremendous demand is simple: South Koreans suddenly have a lot more money.@@@@1@16@@oe@2-2-2013
22140015@unknown@formal@none@1@S@"We never thought we'd own a car," says Kwang Ok Kyong, who just bought a Daewoo LeMans on a five-year loan.@@@@1@21@@oe@2-2-2013
22140016@unknown@formal@none@1@S@She and her husband started a small printing business and need the car for work as well as for weekend jaunts.@@@@1@21@@oe@2-2-2013
22140017@unknown@formal@none@1@S@Pay raises of 60% over the past three years have given many South Koreans the money to enjoy the things they were supplying the rest of the world.@@@@1@28@@oe@2-2-2013
22140018@unknown@formal@none@1@S@The success of newcomer SsangYong Motor shows the strength of the auto market and its growing diversity.@@@@1@17@@oe@2-2-2013
22140019@unknown@formal@none@1@S@A part of the construction-oriented conglomerate SsangYong Group, it took over the dying Dong-A Motor Co. in 1986.@@@@1@18@@oe@2-2-2013
22140020@unknown@formal@none@1@S@SsangYong began making variations of the Jeep-like "Korando" vehicle.@@@@1@9@@oe@2-2-2013
22140021@unknown@formal@none@1@S@(Dong-A had had a technology agreement with Jeep maker American Motors Corp., now a part of Chrysler Corp.)@@@@1@18@@oe@2-2-2013
22140022@unknown@formal@none@1@S@The most popular style is the stretched "Family," which resembles a Ford Bronco or Chevy Blazer.@@@@1@16@@oe@2-2-2013
22140023@unknown@formal@none@1@S@The four-wheel-drive vehicles start at $15,000; a Family can cost over $25,000.@@@@1@12@@oe@2-2-2013
22140024@unknown@formal@none@1@S@SsangYong, which has only about 3% of the domestic market, will sell about 18,000 of its models this year, twice as many as last year.@@@@1@25@@oe@2-2-2013
22140025@unknown@formal@none@1@S@It sees sales rising 45% to 26,000 units next year.@@@@1@10@@oe@2-2-2013
22140026@unknown@formal@none@1@S@The company plans to expand plant capacity 50% by 1991.@@@@1@10@@oe@2-2-2013
22140027@unknown@formal@none@1@S@By then it also hopes to begin producing a passenger car based on the Volvo 240 and selling for about $20,000.@@@@1@21@@oe@2-2-2013
22140028@unknown@formal@none@1@S@Hyundai and Daewoo seem unconcerned about the SsangYong threat, but Kia, the scrappy No.3 auto maker, is selling four-wheel-drive vehicles through its Asia unit.@@@@1@24@@oe@2-2-2013
22140029@unknown@formal@none@1@S@It plans to sell 1,700 units in 1989.@@@@1@8@@oe@2-2-2013
22140030@unknown@formal@none@1@S@Kia, the only Korean car maker that has seen its overseas sales grow in 1989, aims at Korea's common man.@@@@1@20@@oe@2-2-2013
22140031@unknown@formal@none@1@S@Its advantage has been the peppy little Pride, sold as the Ford Festiva in the U.S.@@@@1@16@@oe@2-2-2013
22140032@unknown@formal@none@1@S@At 3.8 million won, or $5,700, the econobox is the lowest-priced car in South Korea.@@@@1@15@@oe@2-2-2013
22140033@unknown@formal@none@1@S@Along with two larger models, the company claims 18% of the domestic market.@@@@1@13@@oe@2-2-2013
22140034@unknown@formal@none@1@S@Ford Motor Co. and Japan's Mazda Motor Corp. have equity interests in Kia.@@@@1@13@@oe@2-2-2013
22140035@unknown@formal@none@1@S@Kia is the most aggressive of the Korean Big Three in offering financing.@@@@1@13@@oe@2-2-2013
22140036@unknown@formal@none@1@S@Loans for as long as five years make the cars very accessible, with monthly payments as low as 80,000 won, or $120.@@@@1@22@@oe@2-2-2013
22140037@unknown@formal@none@1@S@Daewoo Motor, a 50-50 joint venture with General Motors Corp. and the Daewoo Group conglomerate, is the only auto maker that appears to be hurting.@@@@1@25@@oe@2-2-2013
22140038@unknown@formal@none@1@S@Shipments of its Lemans to GM's Pontiac division are off about 65% from a year ago, versus a 44% decline for Hyundai and an 18% increase for Kia.@@@@1@28@@oe@2-2-2013
22140039@unknown@formal@none@1@S@Moreover, Daewoo's domestic sales have grown half as fast as sales of its rivals.@@@@1@14@@oe@2-2-2013
22140040@unknown@formal@none@1@S@The big problem for Daewoo, which holds about 21% of the market, is the long series of labor disruptions it suffered this year.@@@@1@23@@oe@2-2-2013
22140041@unknown@formal@none@1@S@But Daewoo is expanding too.@@@@1@5@@oe@2-2-2013
22140042@unknown@formal@none@1@S@In fact, a sister company, Daewoo Shipbuilding and Heavy Machinery, plans to build 240,000 minicars by the mid-1990s.@@@@1@18@@oe@2-2-2013
22140043@unknown@formal@none@1@S@Hyundai, the Korean market leader with a 58% share, also plans to jump into minicars at the same time.@@@@1@19@@oe@2-2-2013
22140044@unknown@formal@none@1@S@It has a similar project for 200,000 cars a year.@@@@1@10@@oe@2-2-2013
22140045@unknown@formal@none@1@S@Kia is reportedly also considering such a plan.@@@@1@8@@oe@2-2-2013
22140046@unknown@formal@none@1@S@Even giant Samsung Group is rumored in the Korean press to be considering getting into the auto-making business; a company spokesman had no comment.@@@@1@24@@oe@2-2-2013
22141001@unknown@formal@none@1@S@Robert P. Bulseco, 44 years old, was named president and chief administrative officer of this regional commercial bank.@@@@1@18@@oe@2-2-2013
22141002@unknown@formal@none@1@S@Both posts had been vacant.@@@@1@5@@oe@2-2-2013
22141003@unknown@formal@none@1@S@Robert Robie, 51, was named to the new positions of vice chairman and chief credit officer.@@@@1@16@@oe@2-2-2013
22142001@unknown@formal@none@1@S@Many skittish mutual fund investors picked up the phone yesterday, but decided not to cash in their chips after all.@@@@1@20@@oe@2-2-2013
22142002@unknown@formal@none@1@S@As the stock market bounced back, withdrawals of money from stock funds amounted to a mere trickle compared with Black Monday, when investors dumped $2.3 billion, or about 2% of stock-fund assets.@@@@1@32@@oe@2-2-2013
22142003@unknown@formal@none@1@S@Fidelity Investments, the nation's largest fund company, said phone volume was more than double its typical level, but still half that of Oct. 19, 1987.@@@@1@25@@oe@2-2-2013
22142004@unknown@formal@none@1@S@Net outflows from Fidelity's stock funds stood at less than $300 million, or below 15% of the $2 billion cash position of the firm's stock portfolios.@@@@1@26@@oe@2-2-2013
22142005@unknown@formal@none@1@S@Much of the money was switched into the firm's money market funds.@@@@1@12@@oe@2-2-2013
22142006@unknown@formal@none@1@S@Outflows since the close of trading Friday remain below one-third their level of two years ago, Fidelity said.@@@@1@18@@oe@2-2-2013
22142007@unknown@formal@none@1@S@Other mutual fund companies reported even lighter withdrawal requests.@@@@1@9@@oe@2-2-2013
22142008@unknown@formal@none@1@S@And some investors at Fidelity and elsewhere even began buying stock funds during the day.@@@@1@15@@oe@2-2-2013
22142009@unknown@formal@none@1@S@"Two years ago, there was a lot of redemption activity and trouble with people getting through on the phone," said Kathryn McGrath, head of the investment management division of the Securities and Exchange Commission.@@@@1@34@@oe@2-2-2013
22142010@unknown@formal@none@1@S@This time, "We don't have that at all."@@@@1@8@@oe@2-2-2013
22142011@unknown@formal@none@1@S@Of course, the relative calm could be jolted if the market plunges again.@@@@1@13@@oe@2-2-2013
22142012@unknown@formal@none@1@S@And any strong surge in redemptions could force some funds to dump stocks to raise cash, as some did during Black Monday.@@@@1@22@@oe@2-2-2013
22142013@unknown@formal@none@1@S@But funds generally are better prepared this time around.@@@@1@9@@oe@2-2-2013
22142014@unknown@formal@none@1@S@As a group, their cash position of 10.2% of assets in August -- the latest figure available -- is 14% higher than two years earlier.@@@@1@25@@oe@2-2-2013
22142015@unknown@formal@none@1@S@Many fund managers have boosted their cash levels in recent weeks.@@@@1@11@@oe@2-2-2013
22142016@unknown@formal@none@1@S@The biggest flurry of investor activity came early in the day.@@@@1@11@@oe@2-2-2013
22142017@unknown@formal@none@1@S@Vanguard Group Inc. saw heavy exchanges from stock funds into money market funds after the telephone lines opened at 8:30 a.m.@@@@1@21@@oe@2-2-2013
22142018@unknown@formal@none@1@S@"In the first hour, the real nervous folks came along," a spokesman said.@@@@1@13@@oe@2-2-2013
22142019@unknown@formal@none@1@S@"But the horrendous pace of call volume in the first half-hour slowed considerably."@@@@1@13@@oe@2-2-2013
22142020@unknown@formal@none@1@S@At Scudder, Stevens & Clark Inc., phone calls came in at 40% more than the normal pace through early afternoon.@@@@1@20@@oe@2-2-2013
22142021@unknown@formal@none@1@S@Most of that increase came in the first hour after the phone lines opened at 8 a.m.@@@@1@17@@oe@2-2-2013
22142022@unknown@formal@none@1@S@As stocks rose, in fact, some investors changed course and reversed their sell orders.@@@@1@14@@oe@2-2-2013
22142023@unknown@formal@none@1@S@Many funds allow investors to void orders before the close of trading.@@@@1@12@@oe@2-2-2013
22142024@unknown@formal@none@1@S@At Scudder and at the smaller Ivy funds group in Hingham, Mass., for instance, some shareholders called early in the morning to switch money from stock funds to money market funds, but later called back to reverse the switches.@@@@1@39@@oe@2-2-2013
22142025@unknown@formal@none@1@S@Because mutual fund trades don't take effect until the market close -- in this case, at 4 p.m. -- these shareholders effectively stayed put.@@@@1@24@@oe@2-2-2013
22142026@unknown@formal@none@1@S@At Fidelity's office in downtown Boston, Gerald Sherman walked in shortly after 7:30 a.m. and placed an order to switch his retirement accounts out of three stock funds and into a money market fund.@@@@1@34@@oe@2-2-2013
22142027@unknown@formal@none@1@S@But by 3:15 p.m., with the market comfortably ahead for the day, Mr. Sherman was preparing to undo his switch.@@@@1@20@@oe@2-2-2013
22142028@unknown@formal@none@1@S@"It's a nice feeling to know that things stabilized," said Mr. Sherman, the 51-year-old co-owner of a discount department store.@@@@1@20@@oe@2-2-2013
22142029@unknown@formal@none@1@S@But some investors continued to switch out of high-risk, high-yield junk funds despite yesterday's rebound from that market's recent price declines.@@@@1@21@@oe@2-2-2013
22142030@unknown@formal@none@1@S@Shareholders have been steadily bailing out of several big junk funds the past several weeks as the $200 billion market was jolted by a cash crunch at Campeau Corp. and steadily declining prices.@@@@1@33@@oe@2-2-2013
22142031@unknown@formal@none@1@S@Much of the money has been switched into money market funds, fund executives say.@@@@1@14@@oe@2-2-2013
22142032@unknown@formal@none@1@S@Instead of selling bonds to meet redemptions, however, some funds have borrowed from banks to meet withdrawal requests.@@@@1@18@@oe@2-2-2013
22142033@unknown@formal@none@1@S@This avoids knocking down prices further.@@@@1@6@@oe@2-2-2013
22142034@unknown@formal@none@1@S@The $1.1 billion T. Rowe Price High Yield Fund was among the funds that borrowed during the Campeau crisis, says George J. Collins, president of T. Rowe Price Associates Inc.@@@@1@30@@oe@2-2-2013
22142035@unknown@formal@none@1@S@That way, Mr. Collins says, "We didn't have to sell securities in a sloppy market."@@@@1@15@@oe@2-2-2013
22142036@unknown@formal@none@1@S@When the market stabilized, he added, the firm sold the bonds and quickly paid the loans back.@@@@1@17@@oe@2-2-2013
22142037@unknown@formal@none@1@S@Tom Herman contributed to this article.@@@@1@6@@oe@2-2-2013
22143001@unknown@formal@none@1@S@Amcore Financial Inc. said it agreed to acquire Central of Illinois Inc. in a stock swap.@@@@1@16@@oe@2-2-2013
22143002@unknown@formal@none@1@S@Shareholders of Central, a bank holding company based in Sterling, Ill., will receive Amcore stock equal to 10 times Central's 1989 earnings, Amcore said.@@@@1@24@@oe@2-2-2013
22143003@unknown@formal@none@1@S@For the first nine months of 1989, Central earned $2 million.@@@@1@11@@oe@2-2-2013
22143004@unknown@formal@none@1@S@Amcore, also a bank holding company, has assets of $1.06 billion.@@@@1@11@@oe@2-2-2013
22143005@unknown@formal@none@1@S@Central's assets are $240 million.@@@@1@5@@oe@2-2-2013
22144001@unknown@formal@none@1@S@(During its centennial year, The Wall Street Journal will report events of the past century that stand as milestones of American business history.)@@@@1@23@@oe@2-2-2013
22144002@unknown@formal@none@1@S@SOFT CONTACT LENSES WON federal blessing on March 18, 1971, and quickly became eye openers for their makers.@@@@1@18@@oe@2-2-2013
22144003@unknown@formal@none@1@S@The Food and Drug Administration that day said Bausch & Lomb could start selling them in the U.S.@@@@1@18@@oe@2-2-2013
22144004@unknown@formal@none@1@S@The cornflake-size product was more comfortable and less prone to falling out than hard contact lenses, which had been around since 1939.@@@@1@22@@oe@2-2-2013
22144005@unknown@formal@none@1@S@Bausch & Lomb sold the softies under a sublicense from National Patent Development, which had gained the rights from the Czechoslovakia Academy of Sciences.@@@@1@24@@oe@2-2-2013
22144006@unknown@formal@none@1@S@Otto Wichterle, a Czech, invented them in 1962.@@@@1@8@@oe@2-2-2013
22144007@unknown@formal@none@1@S@The plastic lens wraps itself over the cornea, absorbing eye moisture while permitting oxygen to pass through.@@@@1@17@@oe@2-2-2013
22144008@unknown@formal@none@1@S@But the new lens became the eye of a storm.@@@@1@10@@oe@2-2-2013
22144009@unknown@formal@none@1@S@In September 1971 California officials seized "bootlegged" lenses -- made by unlicensed companies -- after some showed traces of bacteria.@@@@1@20@@oe@2-2-2013
22144010@unknown@formal@none@1@S@In October doctors were debating the product's safety, some claiming it caused infections.@@@@1@13@@oe@2-2-2013
22144011@unknown@formal@none@1@S@And there were Senate hearings on the questions in July 1972.@@@@1@11@@oe@2-2-2013
22144012@unknown@formal@none@1@S@The product overcame the bad publicity and kept evolving.@@@@1@9@@oe@2-2-2013
22144013@unknown@formal@none@1@S@The early soft lenses, which cost $300 a set, were expected to last for a year.@@@@1@16@@oe@2-2-2013
22144014@unknown@formal@none@1@S@In 1983 "extended wear" versions, designed to be worn for 30 days at a time, wree offered.@@@@1@17@@oe@2-2-2013
22144015@unknown@formal@none@1@S@Eighteen months ago a "disposable" seven-day model bowed; a year's supply costs about $500.@@@@1@14@@oe@2-2-2013
22144016@unknown@formal@none@1@S@Last month the FDA and Contact Lens Institute cautioned users that serious eye infections could result from wearing lenses more than seven days at a stretch.@@@@1@26@@oe@2-2-2013
22144017@unknown@formal@none@1@S@Today 20 million of the 25 million Americans using contact lenses are using the soft type.@@@@1@16@@oe@2-2-2013
22144018@unknown@formal@none@1@S@Including the accesory eye care products, contacts account for $2 billion in annual retail sales.@@@@1@15@@oe@2-2-2013
22144019@unknown@formal@none@1@S@Although Bausch remains the leader among the six majors, Johnson & Johnson, with its new disposables, is coming on fast.@@@@1@20@@oe@2-2-2013
22145001@unknown@formal@none@1@S@The roller-coaster stock market is making life tougher for small companies trying to raise money.@@@@1@15@@oe@2-2-2013
22145002@unknown@formal@none@1@S@In the wake of Friday's plunge and yesterday's rebound, some companies are already postponing deals, and others wish they could.@@@@1@20@@oe@2-2-2013
22145003@unknown@formal@none@1@S@As in other jittery times, many small businesses expect a particularly rough time raising funds as investors shun risky deals, seeking safety in bigger companies.@@@@1@25@@oe@2-2-2013
22145004@unknown@formal@none@1@S@Even if stock prices fully recover from Friday's sharp decline, the unsettled conditions will frighten many investors.@@@@1@17@@oe@2-2-2013
22145005@unknown@formal@none@1@S@"The implication of an unsettled situation is that the thing could drop dramatically," says Henry Linsert Jr., chairman of Martek Corp., a four-year-old biotechnology company that is planning a private placement of stock.@@@@1@33@@oe@2-2-2013
22145006@unknown@formal@none@1@S@"The more variables that indicate risk, the more the investor is going to drive a hard bargain."@@@@1@17@@oe@2-2-2013
22145007@unknown@formal@none@1@S@Earlier this month, Staples Inc., a Newton, Mass., office-supplies discounter, said it would accelerate expansion plans nationwide and offer more of its stock to the public.@@@@1@26@@oe@2-2-2013
22145008@unknown@formal@none@1@S@At the time, its shares were selling above their initial offering price of $19, and bankers believed Staples would sell new stock without a hitch.@@@@1@25@@oe@2-2-2013
22145009@unknown@formal@none@1@S@But with the company's shares standing at $15 yesterday, a new offering seems unlikely, company officials say.@@@@1@17@@oe@2-2-2013
22145010@unknown@formal@none@1@S@Business, however, continues to be "robust," and the stock market hasn't affected the concern's expansion plans, says Todd Krasnow, a senior executive.@@@@1@22@@oe@2-2-2013
22145011@unknown@formal@none@1@S@Other companies figure they can't avoid the market.@@@@1@8@@oe@2-2-2013
22145012@unknown@formal@none@1@S@"We have capital requirements," says Mr. Linsert, "so we have to go ahead" with a planned $1.5 billion private placement.@@@@1@20@@oe@2-2-2013
22145013@unknown@formal@none@1@S@Unless the market goes right back up, he says, "it may take us six to nine months to find the money, instead of three."@@@@1@24@@oe@2-2-2013
22145014@unknown@formal@none@1@S@And the Columbia, Md., company may have to settle for a lower price, he adds.@@@@1@15@@oe@2-2-2013
22145015@unknown@formal@none@1@S@Life is particularly nerve-racking for companies that had planned to go public this week.@@@@1@14@@oe@2-2-2013
22145016@unknown@formal@none@1@S@Hand-holding is becoming an investment-banking job requirement.@@@@1@7@@oe@2-2-2013
22145017@unknown@formal@none@1@S@Robertson, Stephens & Co., a San Francisco investment banking concern, has a client that looked forward to making its initial public offering yesterday.@@@@1@23@@oe@2-2-2013
22145018@unknown@formal@none@1@S@Officers of the company, a health-care concern, "were very discouraged on Friday and felt they shouldn't go public; we felt they should," says Sanford Robertson, partner in the banking concern.@@@@1@30@@oe@2-2-2013
22145019@unknown@formal@none@1@S@As the market dropped Friday, Robertson Stephens slashed the value of the offering by 7%.@@@@1@15@@oe@2-2-2013
22145020@unknown@formal@none@1@S@Yesterday, when similar securities rebounded, it bumped the valuation up again.@@@@1@11@@oe@2-2-2013
22145021@unknown@formal@none@1@S@As of late yesterday, the IPO was still on.@@@@1@9@@oe@2-2-2013
22145022@unknown@formal@none@1@S@For many, the situation is especially discouraging because the market for IPOs was showing signs of strengthening after several years of weakness.@@@@1@22@@oe@2-2-2013
22145023@unknown@formal@none@1@S@"We were just beginning to look at the increase in IPOs, seeing the light at the end of the tunnel," says Frank Kline Jr., partner in Lambda Funds, a Beverly Hills, Calif., venture capital concern.@@@@1@35@@oe@2-2-2013
22145024@unknown@formal@none@1@S@"But the tunnel's just gotten longer."@@@@1@6@@oe@2-2-2013
22145025@unknown@formal@none@1@S@Companies planning to go public "are definitely taking a second look," says Allen Hadhazy, senior analyst at the Institute for Econometric Research, Fort Lauderdale, Fla., which publishes the New Issues newsletter on IPOs.@@@@1@33@@oe@2-2-2013
22145026@unknown@formal@none@1@S@He calculates that the recent market slide translated into a 5% to 7% reduction in IPO proceeds to companies.@@@@1@19@@oe@2-2-2013
22145027@unknown@formal@none@1@S@Many companies are hesitating.@@@@1@4@@oe@2-2-2013
22145028@unknown@formal@none@1@S@Exabyte Corp. had been planning to sell 10% of its stock this week in an IPO that would raise up to $28.5 million.@@@@1@23@@oe@2-2-2013
22145029@unknown@formal@none@1@S@But now, Peter Behrendt, president, says, "We're making decisions on a day-to-day basis."@@@@1@13@@oe@2-2-2013
22145030@unknown@formal@none@1@S@Debt-free and profitable, the Boulder, Colo., computer-products concern could borrow funds if it decides against an IPO now, he says.@@@@1@20@@oe@2-2-2013
22145031@unknown@formal@none@1@S@KnowledgeWare Inc., an Atlanta computer-software concern, says it is still planning to go ahead with its IPO this week or next -- unless conditions change.@@@@1@25@@oe@2-2-2013
22145032@unknown@formal@none@1@S@"It's a wait-and-see situation right now," says Terry McGowan, president.@@@@1@10@@oe@2-2-2013
22145033@unknown@formal@none@1@S@Delayed financings also would affect the operations of many companies.@@@@1@10@@oe@2-2-2013
22145034@unknown@formal@none@1@S@Sierra Tucson Cos., a Tucson, Ariz., operator of addiction-treatment centers, has a planned doubling of capacity riding on an IPO scheduled for next week.@@@@1@24@@oe@2-2-2013
22145035@unknown@formal@none@1@S@William O'Donnell, president, says he still thinks the IPO will succeed.@@@@1@11@@oe@2-2-2013
22145036@unknown@formal@none@1@S@If it doesn't, he says, the company would have to change its expansion timetable.@@@@1@14@@oe@2-2-2013
22145037@unknown@formal@none@1@S@But the market turmoil could be partially beneficial for some small businesses.@@@@1@12@@oe@2-2-2013
22145038@unknown@formal@none@1@S@In a sagging market, the Federal Reserve System "might flood the market with funds, and that should bring interest rates down," says Leonard T. Anctil, vice president of the Bank of New England, Boston.@@@@1@34@@oe@2-2-2013
22145039@unknown@formal@none@1@S@James G. Zafris, president of Danvers Savings Bank, Danvers, Mass., says the market turmoil "is an absolute non-event for small business."@@@@1@21@@oe@2-2-2013
22145040@unknown@formal@none@1@S@For small companies, he says, interest rates are far more important than what happens on stock exchanges.@@@@1@17@@oe@2-2-2013
22145041@unknown@formal@none@1@S@Mr. Zafris thinks rates are heading down, helping small companies.@@@@1@10@@oe@2-2-2013
22145042@unknown@formal@none@1@S@Peter Drake, biotechnology analyst for Vector Securities International, Chicago, thinks market uncertainty may encourage small companies to form more strategic alliances with big corporations.@@@@1@24@@oe@2-2-2013
22145043@unknown@formal@none@1@S@Partly because the 1987 market crash made it harder for them to find financing, many high-technology concerns have made such alliances recently.@@@@1@22@@oe@2-2-2013
22145044@unknown@formal@none@1@S@Some even see a silver lining in the dark clouds.@@@@1@10@@oe@2-2-2013
22145045@unknown@formal@none@1@S@Alan Wells, president of Bollinger, Wells, Lett & Co., a New York merger specialist, thinks panicky investors may lose their enthusiasm for leveraged buy-out and giant takeover deals.@@@@1@28@@oe@2-2-2013
22145046@unknown@formal@none@1@S@Instead, they could turn to investing in smaller deals involving smaller companies, he says.@@@@1@14@@oe@2-2-2013
22145047@unknown@formal@none@1@S@And William E. Wetzel Jr., a University of New Hampshire management professor and director of Venture Capital Network Inc., says the market's gyrations will underline the investors' lack of control in big stock investments.@@@@1@34@@oe@2-2-2013
22145048@unknown@formal@none@1@S@This will add to the appeal of small business, he says, where investors often have a degree of influence.@@@@1@19@@oe@2-2-2013
22146001@unknown@formal@none@1@S@Bay Financial Corp., hurt by high debts and deteriorating real estate investments, reported a wider loss for the fourth quarter and said it might be forced to seek a bankruptcy-court reorganization if it can't renegotiate its borrowings.@@@@1@37@@oe@2-2-2013
22146002@unknown@formal@none@1@S@Bay said a "substantial part" of its debt outstanding is in default as a result of inability to sell certain properties quickly and lower-than-expected prices for sales made.@@@@1@28@@oe@2-2-2013
22146003@unknown@formal@none@1@S@The company said its real estate portfolio is "highly leveraged," while about two-thirds of its investments aren't income-producing.@@@@1@18@@oe@2-2-2013
22146004@unknown@formal@none@1@S@Thus it is coming up short on a big bet that quick sales at higher prices would enable it to keep up with mortgage and other debt payments.@@@@1@28@@oe@2-2-2013
22146005@unknown@formal@none@1@S@According to its latest annual report, about a quarter of the company's holdings are in Massachusetts, in the midst of a real-estate slump.@@@@1@23@@oe@2-2-2013
22146006@unknown@formal@none@1@S@The company said it had a net loss in its fourth quarter ended June 30 of $36.2 million, or $9.33 a share, on revenue of $13.1 million.@@@@1@27@@oe@2-2-2013
22146007@unknown@formal@none@1@S@A year earlier, the company had a loss of $10.8 million, or $3.04 a share, on revenue of $10.8 million.@@@@1@20@@oe@2-2-2013
22146008@unknown@formal@none@1@S@For the year, it had a net loss of $62 million, or $15.97 a share, on revenue of $44.3 million.@@@@1@20@@oe@2-2-2013
22146009@unknown@formal@none@1@S@In the previous year, it had a loss of $22.5 million, or $6.52 a share, on revenue of $41.1 million.@@@@1@20@@oe@2-2-2013
22146010@unknown@formal@none@1@S@Although it is having serious cash-flow problems, Bay said the fair-market value of its holdings, minus debt, was equal to $6.02 a share at June 30 based on a recent appraisal.@@@@1@31@@oe@2-2-2013
22146011@unknown@formal@none@1@S@Book value per share, which is based on investments at cost, was a negative $6.69 a share.@@@@1@17@@oe@2-2-2013
22146012@unknown@formal@none@1@S@A year earlier, fair-market value per share was $26.02 and book value was $9.43 a share.@@@@1@16@@oe@2-2-2013
22147001@unknown@formal@none@1@S@Annualized interest rates on certain investments as reported by the Federal Reserve Board on a weekly-average basis: 1989 and Wednesday October 4, 1989.@@@@1@23@@oe@2-2-2013
22147002@unknown@formal@none@1@S@c-Yields, adjusted for constant maturity.@@@@1@5@@oe@2-2-2013
22148001@unknown@formal@none@1@S@TRW Inc. reported a 12% decline in third-quarter net income, but the company said that excluding unusual gains in both quarters, operating profit rose 16%.@@@@1@25@@oe@2-2-2013
22148002@unknown@formal@none@1@S@The electronics, automotive and aerospace concern said third-quarter net was $60 million, or 98 cents a share, down from $68 million, or $1.11 a share, a year earlier.@@@@1@28@@oe@2-2-2013
22148003@unknown@formal@none@1@S@Share earnings are reported on a fully diluted basis, by company tradition.@@@@1@12@@oe@2-2-2013
22148004@unknown@formal@none@1@S@Results for the 1988 quarter included a gain of $1.05 a share from sale of the Reda Pump and Oilwell Cable units, partly offset by a charge of 69 cents a share for recall of faulty truck steering systems.@@@@1@39@@oe@2-2-2013
22148005@unknown@formal@none@1@S@The latest quarter included a gain of 11 cents a share as a partial reversal of the recall charge, because the reserve established last year exceeded the actual recall costs.@@@@1@30@@oe@2-2-2013
22148006@unknown@formal@none@1@S@Sales for the quarter rose 8.3% to $1.79 billion, from $1.65 billion, with all three major product groups reporting gains.@@@@1@20@@oe@2-2-2013
22148007@unknown@formal@none@1@S@The company said aerospace and defense sales were up 2% for the quarter to $802 million, and operating profit climbed 6% to $61 million, mainly because of improved program performance in spacecraft and advanced-technology contracts.@@@@1@35@@oe@2-2-2013
22148008@unknown@formal@none@1@S@Automotive sales jumped 16% to $791 million, mainly because of higher sales of air bags and other passenger restraint systems, TRW said.@@@@1@22@@oe@2-2-2013
22148009@unknown@formal@none@1@S@The group had an operating profit of $65 million, against a loss of $13 million a year earlier.@@@@1@18@@oe@2-2-2013
22148010@unknown@formal@none@1@S@However, excluding the year-earlier charge for recall of steering gear, operating profit in the latest quarter declined 14%, reflecting higher start-up and product development expenses in passenger-restraint systems.@@@@1@28@@oe@2-2-2013
22148011@unknown@formal@none@1@S@Materials and production costs also rose, TRW said.@@@@1@8@@oe@2-2-2013
22148012@unknown@formal@none@1@S@The information systems segment had a 44% jump sales to $196 million.@@@@1@12@@oe@2-2-2013
22148013@unknown@formal@none@1@S@An acquisition accounted for half the sales rise, TRW said.@@@@1@10@@oe@2-2-2013
22148014@unknown@formal@none@1@S@Operating profit rose threefold to $18 million, from $6 million.@@@@1@10@@oe@2-2-2013
22148015@unknown@formal@none@1@S@For the nine months, TRW's net was $199 million, or $3.22 a share, down 3% from $205 million, or $3.33 a share, a year earlier.@@@@1@25@@oe@2-2-2013
22148016@unknown@formal@none@1@S@Sales rose 2.9% to $5.42 billion, from $5.27 billion.@@@@1@9@@oe@2-2-2013
22149001@unknown@formal@none@1@S@a tragicomic monologue by an idealistic, not unheroic, though sadly self-deceived English butler in his sixties -- proceeds as if the realistic English novel of manners, like Britannia herself, still ruled the waves.@@@@1@33@@oe@2-2-2013
22149002@unknown@formal@none@1@S@In fact, Kazuo Ishiguro's "The Remains of the Day" (Knopf, 245 pages, $18.95) is both an homage to traditional English forms and a dramatic critique of them.@@@@1@27@@oe@2-2-2013
22149003@unknown@formal@none@1@S@It implies that the British Empire was rooted in its subjects' minds, manners and morals, and argues, tacitly, that its self-destructive flaws were embodied in the defensive snobbery, willful blindness, role-playing and especially the locutions of its domestic servants.@@@@1@39@@oe@2-2-2013
22149004@unknown@formal@none@1@S@As the narrator Stevens, the solitary butler of Darlington Hall, mulls over such hallowed terms as "greatness," "dignity," "service" and "loyalty," we see how pious cant subverts the soul.@@@@1@29@@oe@2-2-2013
22149005@unknown@formal@none@1@S@Stevens's dutiful conflation of the public and private realms -- like his beloved master's -- destroys all it was designed to preserve.@@@@1@22@@oe@2-2-2013
22149006@unknown@formal@none@1@S@Such armor crushes the soldier.@@@@1@5@@oe@2-2-2013
22149007@unknown@formal@none@1@S@The mask cuts to the quick.@@@@1@6@@oe@2-2-2013
22149008@unknown@formal@none@1@S@It's 1956, the year the Suez crisis marked the final end of Empire.@@@@1@13@@oe@2-2-2013
22149009@unknown@formal@none@1@S@As he stands on a hill at the beginning of a six-day motor expedition from Oxfordshire to Cornwall, where a former housekeeper resides, perhaps the victim of an unhappy 20-year marriage, perhaps (he hopes with more fervor than he will ever acknowledge) not disinclined to return to domestic service, Stevens surveys the view and thereby provides a self-portrait, a credo and the author's metaphor for the aesthetic of the novel we're reading:@@@@1@72@@oe@2-2-2013
22149010@unknown@formal@none@1@S@"We call this land of ours Great Britain, and there may be those who believe this a somewhat immodest practice.@@@@1@20@@oe@2-2-2013
22149011@unknown@formal@none@1@S@Yet I would venture that the landscape of our country alone would justify the use of this lofty adjective. . . .@@@@1@22@@oe@2-2-2013
22149012@unknown@formal@none@1@S@It is the very lack of obvious drama or spectacle that sets the beauty of our land apart.@@@@1@18@@oe@2-2-2013
22149013@unknown@formal@none@1@S@What is pertinent is the calmness of that beauty, its sense of restraint.@@@@1@13@@oe@2-2-2013
22149014@unknown@formal@none@1@S@It is as though the land knows of its own beauty, of its own greatness, and feels no need to shout it.@@@@1@22@@oe@2-2-2013
22149015@unknown@formal@none@1@S@In comparison, the sorts of sights offered in such places as Africa and America, though undoubtedly very exciting, would, I am sure, strike the objective viewer as inferior on account of their unseemly demonstrativeness."@@@@1@34@@oe@2-2-2013
22149016@unknown@formal@none@1@S@An effusive landscape?@@@@1@3@@oe@2-2-2013
22149017@unknown@formal@none@1@S@An ill-mannered mountain?@@@@1@3@@oe@2-2-2013
22149018@unknown@formal@none@1@S@But let Stevens continue in his unwitting comic manner (his conscious efforts at "banter" always fail -- most comically): "This whole question is very akin to the question that has caused much debate in our profession over the years: what is a `great' butler?"@@@@1@44@@oe@2-2-2013
22149019@unknown@formal@none@1@S@His answer is one "possessed of a dignity in keeping with his position."@@@@1@13@@oe@2-2-2013
22149020@unknown@formal@none@1@S@Such dignity "has to do crucially with a butler's ability not to abandon the professional being he inhabits."@@@@1@18@@oe@2-2-2013
22149021@unknown@formal@none@1@S@He "will not be shaken out by external events, however surprising, alarming or vexing. . . .@@@@1@17@@oe@2-2-2013
22149022@unknown@formal@none@1@S@Continentals are unable to be butlers because they are as a breed incapable of the emotional restraint which only the English race are capable of."@@@@1@25@@oe@2-2-2013
22149023@unknown@formal@none@1@S@Despite his racial advantage, to be a great butler is a heroic calling; one's pantry is "not unlike general's headquarters during a battle."@@@@1@23@@oe@2-2-2013
22149024@unknown@formal@none@1@S@If, for example, in the midst of a great social occasion (such as an international conference on revising the Versailles Treaty in 1923), one's 72-yearold father, himself a great butler once, should happen to die of a stroke, one must continue to serve the port: "Please don't think me unduly improper in not ascending to see my father in his deceased condition just at this moment.@@@@1@66@@oe@2-2-2013
22149025@unknown@formal@none@1@S@You see, I know my father would have wished me to carry on just now."@@@@1@15@@oe@2-2-2013
22149026@unknown@formal@none@1@S@It is this kind of dignity and restraint that allows Stevens to declare: "For all its sad associations, whenever I recall that evening today, I find I do so with a large sense of triumph."@@@@1@35@@oe@2-2-2013
22149027@unknown@formal@none@1@S@We note the imperial public word used to deny private rage and sorrow.@@@@1@13@@oe@2-2-2013
22149028@unknown@formal@none@1@S@That Stevens himself is not grotesque or repellent, but funny and sad and enlightening, is entirely the author's triumph.@@@@1@19@@oe@2-2-2013
22149029@unknown@formal@none@1@S@Mr. Ishiguro's ability to create a fallible narrative voice that permits him to explore such intertwining domestic, cultural and political themes was abundantly clear in his previous novel, "An Artist of the Floating World," set in Japan after the war.@@@@1@40@@oe@2-2-2013
22149030@unknown@formal@none@1@S@Now shifting his scene from the country he left at five to the England he has lived in for nearly 30 years, he has fashioned a novel in the mode of Henry James and E.M. Forster.@@@@1@36@@oe@2-2-2013
22149031@unknown@formal@none@1@S@With great aplomb he considers not only filial devotion and (utterly repressed) sexual love, but British anti-Semitism, the gentry's impatience with democracy and support of Hitler, and the moral problematics of loyalty: "It is, in practice, simply not possible to adopt such a critical attitude towards an employer and at the same time provide good service. . . .@@@@1@59@@oe@2-2-2013
22149032@unknown@formal@none@1@S@`This employer embodies all that I find noble and admirable.@@@@1@10@@oe@2-2-2013
22149033@unknown@formal@none@1@S@I will hereafter devote myself to serving him.@@@@1@8@@oe@2-2-2013
22149034@unknown@formal@none@1@S@' This is loyalty intelligently bestowed."@@@@1@6@@oe@2-2-2013
22149035@unknown@formal@none@1@S@In the end, after meeting with the former housekeeper, Stevens sits by the seashore at dusk, thinking of her and of his employer, and declares "I trusted.@@@@1@27@@oe@2-2-2013
22149036@unknown@formal@none@1@S@I trusted in his lordship's wisdom. . . .@@@@1@9@@oe@2-2-2013
22149037@unknown@formal@none@1@S@I can't even say I made my own mistakes.@@@@1@9@@oe@2-2-2013
22149038@unknown@formal@none@1@S@Really -- one has to ask oneself -- what dignity is there in that?"@@@@1@14@@oe@2-2-2013
22149039@unknown@formal@none@1@S@The loyal servant has come full circle.@@@@1@7@@oe@2-2-2013
22149040@unknown@formal@none@1@S@What is greatness?@@@@1@3@@oe@2-2-2013
22149041@unknown@formal@none@1@S@What is dignity?@@@@1@3@@oe@2-2-2013
22149042@unknown@formal@none@1@S@We understand such rueful wisdom must be retrospective: The owl of Minerva only spreads her wings at dusk.@@@@1@18@@oe@2-2-2013
22149043@unknown@formal@none@1@S@But as "The Remains of the Day" so eloquently demonstrates with quiet virtuosity, such wisdom can be movingly embodied in art.@@@@1@21@@oe@2-2-2013
22149044@unknown@formal@none@1@S@Mr. Locke teaches English and comparative literature at Columbia University.@@@@1@10@@oe@2-2-2013
22150001@unknown@formal@none@1@S@UGI Corp. said its AmeriGas subsidiary completed the previously announced sale of its air separation plant and related assets in Waukesha, Wis., to AGA Gas Inc., Cleveland.@@@@1@27@@oe@2-2-2013
22150002@unknown@formal@none@1@S@The price wasn't disclosed.@@@@1@4@@oe@2-2-2013
22150003@unknown@formal@none@1@S@The transaction is part of UGI's continuing program to shed AmeriGas's industrial gas interests and expand the subsidiary's propane business.@@@@1@20@@oe@2-2-2013
22150004@unknown@formal@none@1@S@Since June, AmeriGas has netted more than $100 million from industrial gas divestitures and reinvested more than $50 million to acquire three propane distributors.@@@@1@24@@oe@2-2-2013
22150005@unknown@formal@none@1@S@UGI is a gas and electric utility and distributes propane nationally through its AmeriGas subsidiary.@@@@1@15@@oe@2-2-2013
22151001@unknown@formal@none@1@S@Stanislav Ovcharenko, who represents the Soviet airline Aeroflot here, has some visions that are wild even by the current standards of perestroika.@@@@1@22@@oe@2-2-2013
22151002@unknown@formal@none@1@S@In his office overlooking the runway of Shannon Airport, Mr. Ovcharenko enthusiastically throws out what he calls "just ideas":@@@@1@19@@oe@2-2-2013
22151003@unknown@formal@none@1@S@First, he suggests, GPA Group Ltd., the international aircraft leasing company based in Ireland, could lease some of its Boeing jetliners to the Soviet airline.@@@@1@25@@oe@2-2-2013
22151004@unknown@formal@none@1@S@Then Aer Lingus, the Irish flag carrier, could teach Aeroflot pilots to fly the Boeings, and the fleet could be based here at Shannon Airport.@@@@1@25@@oe@2-2-2013
22151005@unknown@formal@none@1@S@That's not all, he says.@@@@1@5@@oe@2-2-2013
22151006@unknown@formal@none@1@S@Aer Rianta, the Irish airport authority, could build a cargo terminal in the Soviet Union.@@@@1@15@@oe@2-2-2013
22151007@unknown@formal@none@1@S@Aeroflot could lease some of its cargo planes to Aer Lingus, through GPA, for a joint-venture cargo airline.@@@@1@18@@oe@2-2-2013
22151008@unknown@formal@none@1@S@And then there is his notion of an Irish-Soviet charter airline to ferry Armenians to Los Angeles via Shannon.@@@@1@19@@oe@2-2-2013
22151009@unknown@formal@none@1@S@Have the freedoms of glasnost gone to Mr. Ovcharenko's head?@@@@1@10@@oe@2-2-2013
22151010@unknown@formal@none@1@S@Hardly.@@@@1@1@@oe@2-2-2013
22151011@unknown@formal@none@1@S@The Irish-Soviet aviation connection is alive and well here at Shannon Airport.@@@@1@12@@oe@2-2-2013
22151012@unknown@formal@none@1@S@GPA is indeed talking about leasing Western planes to Aeroflot and even about buying Soviet-built Tupolev 204s.@@@@1@17@@oe@2-2-2013
22151013@unknown@formal@none@1@S@Aer Lingus is in discussions with the Soviet carrier about a cargo venture and other possibilities.@@@@1@16@@oe@2-2-2013
22151014@unknown@formal@none@1@S@Aer Rianta already has so many ventures with Aeroflot that its chief executive is studying Russian.@@@@1@16@@oe@2-2-2013
22151015@unknown@formal@none@1@S@Unlikely as it may seem, tiny, politically neutral Ireland has penetrated the mighty Soviet airline bureaucracy.@@@@1@16@@oe@2-2-2013
22151016@unknown@formal@none@1@S@And as Aeroflot struggles to boost its service standards, upgrade its fleet and pursue commercial opportunities, the Irish aviation industry seems poised to benefit.@@@@1@24@@oe@2-2-2013
22151017@unknown@formal@none@1@S@"Irish and Soviet people are similar," says Mr. Ovcharenko.@@@@1@9@@oe@2-2-2013
22151018@unknown@formal@none@1@S@"They look the same.@@@@1@4@@oe@2-2-2013
22151019@unknown@formal@none@1@S@They're very friendly."@@@@1@3@@oe@2-2-2013
22151020@unknown@formal@none@1@S@Moreover, he says, Irish companies are small but spunky.@@@@1@9@@oe@2-2-2013
22151021@unknown@formal@none@1@S@"We have to study their experience very well," he says.@@@@1@10@@oe@2-2-2013
22151022@unknown@formal@none@1@S@"We must find any way to get business."@@@@1@8@@oe@2-2-2013
22151023@unknown@formal@none@1@S@The two groups have been working together since the late 1970s, long before Soviet joint ventures were the rage in the West.@@@@1@22@@oe@2-2-2013
22151024@unknown@formal@none@1@S@Aeroflot carried about 125 million passengers last year, and Shannon Airport, the airline's largest transit airport outside the Soviet Union, saw 1,400 Aeroflot flights and 250,000 passengers pass through.@@@@1@29@@oe@2-2-2013
22151025@unknown@formal@none@1@S@An apartment complex down the road is the crew-rest and staging area for more than 130 Aeroflot pilots and flight attendants.@@@@1@21@@oe@2-2-2013
22151026@unknown@formal@none@1@S@The airport's biggest supplier of aircraft fuel is the Soviet Union.@@@@1@11@@oe@2-2-2013
22151027@unknown@formal@none@1@S@Tankers from the Latvian port of Ventspils each year unload 25 million gallons of fuel into a special tank farm at the airport.@@@@1@23@@oe@2-2-2013
22151028@unknown@formal@none@1@S@What Aeroflot doesn't pour into its own gas-guzzling Ilyushins is bartered to the airport authority, which resells it to 11 Western carriers including Air France, Trans World Airlines and Pakistan International Airlines.@@@@1@32@@oe@2-2-2013
22151029@unknown@formal@none@1@S@Aeroflot thus pays its landing fees, ground-handling and catering bills with fuel, preserving its hard currency.@@@@1@16@@oe@2-2-2013
22151030@unknown@formal@none@1@S@That isn't all.@@@@1@3@@oe@2-2-2013
22151031@unknown@formal@none@1@S@Last year, the Irish airport authority, in a joint venture with Aeroflot, opened four hard-currency duty-free shops at Moscow's Sheremetyevo Airport.@@@@1@21@@oe@2-2-2013
22151032@unknown@formal@none@1@S@Aer Rianta now manages duty-free sales on all Aeroflot international flights out of Moscow.@@@@1@14@@oe@2-2-2013
22151033@unknown@formal@none@1@S@Duty-free shops in Leningrad's Pulkova Airport opened in July, and hard-currency shops in Leningrad hotels and on the Soviet-Finnish frontier are coming soon.@@@@1@23@@oe@2-2-2013
22151034@unknown@formal@none@1@S@Aer Rianta is talking about similar joint ventures in Tashkent and in Sochi, a Black Sea resort, and even has a computer-assembly project cooking with the Georgian city of Tbilisi.@@@@1@30@@oe@2-2-2013
22151035@unknown@formal@none@1@S@Aeroflot's international fleet of 285 planes is being repainted and refurbished at Shannon Airport.@@@@1@14@@oe@2-2-2013
22151036@unknown@formal@none@1@S@Thanks to a new air-traffic agreement and the ability of Irish travel agents to issue Aeroflot tickets, tourists here are taking advantage of Aeroflot's reasonable prices to board flights in Shannon for holidays in Havana, Kingston and Mexico City.@@@@1@39@@oe@2-2-2013
22151037@unknown@formal@none@1@S@The round-trip fare to Havana is 410 Irish punts ($578).@@@@1@10@@oe@2-2-2013
22151038@unknown@formal@none@1@S@Jamaica costs 504 punts.@@@@1@4@@oe@2-2-2013
22151039@unknown@formal@none@1@S@A formal blessing of sorts was bestowed on this friendship in April when Mikhail and Raisa Gorbachev stopped here for talks with Irish Prime Minister Charles Haughey.@@@@1@27@@oe@2-2-2013
22151040@unknown@formal@none@1@S@New trade accords were signed.@@@@1@5@@oe@2-2-2013
22151041@unknown@formal@none@1@S@It all started with geography.@@@@1@5@@oe@2-2-2013
22151042@unknown@formal@none@1@S@When it opened in 1939, Shannon was the first landfall in Europe for thirsty airplanes flying from North America.@@@@1@19@@oe@2-2-2013
22151043@unknown@formal@none@1@S@Advances in aircraft fuel efficiency over the years made a Shannon stop unnecessary for most Western air fleets, but Aeroflot still flies inefficient Ilyushins that can't make it from Moscow to Managua on one hop.@@@@1@35@@oe@2-2-2013
22151044@unknown@formal@none@1@S@As a result, Ireland didn't spurn the Soviets after they shot down a Korean Air Lines jetliner over the Sea of Japan in 1983, though it suspended direct Moscow-Shannon flights for two months.@@@@1@33@@oe@2-2-2013
22151045@unknown@formal@none@1@S@In fact, Aer Lingus started ferrying Russians from Shannon to New York when Washington stripped Aeroflot of its U.S. landing rights.@@@@1@21@@oe@2-2-2013
22151046@unknown@formal@none@1@S@Today, Aer Rianta is making a heap of money from its Soviet friendship.@@@@1@13@@oe@2-2-2013
22151047@unknown@formal@none@1@S@And, with those contacts in place, it could be relatively simple to add Aer Lingus and GPA to the team.@@@@1@20@@oe@2-2-2013
22151048@unknown@formal@none@1@S@Then, perhaps, Mr. Ovcharenko's ideas wouldn't sound like so much blarney.@@@@1@11@@oe@2-2-2013
22152001@unknown@formal@none@1@S@Britain's industrial production rose 1.5% in August from July and was up 0.9% from August 1988, according to provisional data from the Central Statistical Office.@@@@1@25@@oe@2-2-2013
22152002@unknown@formal@none@1@S@Output in the energy sector, which can vary greatly with swings in the oil market, rose 3.8% in August from May but was down 7.1% from a year earlier.@@@@1@29@@oe@2-2-2013
22152003@unknown@formal@none@1@S@The latest figures compare with July's 4.5% month-to-month rise and 11.3% year-to-year fall.@@@@1@13@@oe@2-2-2013
22153001@unknown@formal@none@1@S@When Nucor Corp. begins shipping steel from the world's first thin-slab plant this month, it will begin testing the competitive mettle of its giant competitors.@@@@1@25@@oe@2-2-2013
22153002@unknown@formal@none@1@S@The new technology, which creates a very thin piece of steel, radically reduces the costs of making flat-rolled sheets.@@@@1@19@@oe@2-2-2013
22153003@unknown@formal@none@1@S@An ebullient Kenneth Iverson, Nucor's chairman, says the company's plant eventually will make a ton of steel in 1.5 man hours, compared with four to six man hours at a conventional mill.@@@@1@32@@oe@2-2-2013
22153004@unknown@formal@none@1@S@"We've had the Russians and Chinese, and people from India visiting us," Mr. Iverson beams.@@@@1@15@@oe@2-2-2013
22153005@unknown@formal@none@1@S@"Everyone in the world is watching us very closely."@@@@1@9@@oe@2-2-2013
22153006@unknown@formal@none@1@S@Especially his neighbors, the major U.S. steelmakers.@@@@1@7@@oe@2-2-2013
22153007@unknown@formal@none@1@S@Already, USX Corp. and Armco Inc. are studying Nucor's technology to see if they can adopt it.@@@@1@17@@oe@2-2-2013
22153008@unknown@formal@none@1@S@Says the chief executive officer of a major Midwest steel company: "It's damn worrisome."@@@@1@14@@oe@2-2-2013
22153009@unknown@formal@none@1@S@The once-staid steel industry is about to be turned topsy-turvy by a 1990s technology revolution.@@@@1@15@@oe@2-2-2013
22153010@unknown@formal@none@1@S@New, efficient and sophisticated processes make it easier for smaller, less cash-rich companies to make steel at a fraction of what Big Steel paid decades ago.@@@@1@26@@oe@2-2-2013
22153011@unknown@formal@none@1@S@It also enables minimills finally to get a toehold in the flat-rolled steel market -- the major steelmakers' largest, most prized, and until now, untouchable, market.@@@@1@26@@oe@2-2-2013
22153012@unknown@formal@none@1@S@But such thin-slab technology is only the beginning.@@@@1@8@@oe@2-2-2013
22153013@unknown@formal@none@1@S@Eager engineers espouse direct-steelmaking and direct casting, which by the end of the 1990s will enable production without coke ovens and blast furnaces.@@@@1@23@@oe@2-2-2013
22153014@unknown@formal@none@1@S@Those massive structures, while posing cost and environmental headaches, effectively locked out all but deep-pocketed giants from steelmaking.@@@@1@18@@oe@2-2-2013
22153015@unknown@formal@none@1@S@"There's a revolution ahead of us that will ultimately change the way we market and distribute steel," says William Dennis, vice president, manufacturing and technology, for the American Iron Ore and Steel Institute.@@@@1@33@@oe@2-2-2013
22153016@unknown@formal@none@1@S@It isn't that major steelmakers have blithely ignored high technology.@@@@1@10@@oe@2-2-2013
22153017@unknown@formal@none@1@S@In fact, they've spent billions of dollars to boost the percentage of continously cast steel to 60.9% in 1988, from 39.6% five years before.@@@@1@24@@oe@2-2-2013
22153018@unknown@formal@none@1@S@Moreover, their balance sheets are rich with diversity, their old plants shuttered, and work forces lean.@@@@1@16@@oe@2-2-2013
22153019@unknown@formal@none@1@S@But that won't suffice.@@@@1@4@@oe@2-2-2013
22153020@unknown@formal@none@1@S@"It's no longer enough to beat the guy down the street.@@@@1@11@@oe@2-2-2013
22153021@unknown@formal@none@1@S@You have to beat everyone around the world," says Mr. Dennis.@@@@1@11@@oe@2-2-2013
22153022@unknown@formal@none@1@S@He wants to see steelmakers more involved in computers and artificial intelligence.@@@@1@12@@oe@2-2-2013
22153023@unknown@formal@none@1@S@The problem: They're saddled with huge plants that require costly maintenance.@@@@1@11@@oe@2-2-2013
22153024@unknown@formal@none@1@S@And try plying new dollars free in a market that is softening, hurt by a strong dollar and concerned about overcapacity -- the industry's Darth Vadar.@@@@1@26@@oe@2-2-2013
22153025@unknown@formal@none@1@S@"The technology revolution is going to be very threatening to established producers," says Peter Marcus, an analyst with PaineWebber Inc.@@@@1@20@@oe@2-2-2013
22153026@unknown@formal@none@1@S@"They've got too much invested in the old stuff and they can't get their workers to be flexible."@@@@1@18@@oe@2-2-2013
22153027@unknown@formal@none@1@S@No one expects minimills to eclipse major integrated steelmakers, who remain the undisputed kings of highest-quality steel used for autos and refrigerators.@@@@1@22@@oe@2-2-2013
22153028@unknown@formal@none@1@S@Nucor's plant in Crawfordsville, Ind., ultimately will produce only one million tons annually, a drop in the 40-million-ton-a-year flat-rolled steel bucket, and it will be years before such plants can compete in the high-profit market.@@@@1@35@@oe@2-2-2013
22153029@unknown@formal@none@1@S@Still, flat-rolled is the steel industry's bread and butter, representing about half of the 80 million tons of steel expected to be shipped this year.@@@@1@25@@oe@2-2-2013
22153030@unknown@formal@none@1@S@Moreover, the process isn't without its headaches.@@@@1@7@@oe@2-2-2013
22153031@unknown@formal@none@1@S@Because all operations are connected, one equipment failure forces a complete plant shutdown.@@@@1@13@@oe@2-2-2013
22153032@unknown@formal@none@1@S@On some days, the Nucor plant doesn't produce anything.@@@@1@9@@oe@2-2-2013
22153033@unknown@formal@none@1@S@"At this point, the minimill capacity won't make a great dent in the integrated market, but it does challenge them to develop new markets," says James McCall, vice president, materials, at Battelle, a technology and management-research giant based in Columbus, Ohio.@@@@1@41@@oe@2-2-2013
22153034@unknown@formal@none@1@S@Indeed, with demand for steel not growing fast enough to absorb capacity, steelmakers will have to change the way they do business.@@@@1@22@@oe@2-2-2013
22153035@unknown@formal@none@1@S@In the past, says Armco's chief economist John Corey, steelmakers made a product and set it out on the loading dock.@@@@1@21@@oe@2-2-2013
22153036@unknown@formal@none@1@S@"We said: `We've got a product: if you want it, you can buy it,'" he says, adding: "Now we're figuring out what people need, and are going back to make it."@@@@1@31@@oe@2-2-2013
22153037@unknown@formal@none@1@S@Armco's sales representatives visit the General Motors Corp.'s Fairfax assembly plant in Kansas City, Mo., two or three days a week.@@@@1@21@@oe@2-2-2013
22153038@unknown@formal@none@1@S@When they determined that GM needed parts more quickly, Armco convinced a steel service center to build a processing plant nearby so shipments could be delivered within 15 minutes.@@@@1@29@@oe@2-2-2013
22153039@unknown@formal@none@1@S@Cementing such relationships with major clients -- car and appliance makers -- is a means of survival, especially when those key clients are relying on a smaller pool of producers and flirting with plastic and aluminum makers.@@@@1@37@@oe@2-2-2013
22153040@unknown@formal@none@1@S@For example, when Detroit began talking about plastic-bodied cars, the American Iron and Steel Institute began a major lobbying effort to show auto makers how they could use steel more efficiently by simply redesigning how a car door is assembled.@@@@1@40@@oe@2-2-2013
22153041@unknown@formal@none@1@S@But steelmakers must also find new markets.@@@@1@7@@oe@2-2-2013
22153042@unknown@formal@none@1@S@After letting aluminum-makers take the recycling lead, a group of the nation's largest steelmakers started a recycling institute to promote steel cans to an environmentally conscious nation.@@@@1@27@@oe@2-2-2013
22153043@unknown@formal@none@1@S@Battelle's Mr. McCall thinks steelmakers should concentrate more on construction.@@@@1@10@@oe@2-2-2013
22153044@unknown@formal@none@1@S@Weirton Steel Corp., Weirton, W. Va., for example, is touting to homeowners fashionable steel doors, with leaded glass inserts, as a secure and energy-efficient alternative to wooden or aluminum ones.@@@@1@30@@oe@2-2-2013
22153045@unknown@formal@none@1@S@Other steelmakers envision steel roofs covering suburbia.@@@@1@7@@oe@2-2-2013
22153046@unknown@formal@none@1@S@Still others are looking at overseas markets.@@@@1@7@@oe@2-2-2013
22153047@unknown@formal@none@1@S@USX is funneling drilling pipe to steel-hungry Soviet Union.@@@@1@9@@oe@2-2-2013
22153048@unknown@formal@none@1@S@This year, the nation's largest steelmaker reactivated its overseas sales operation.@@@@1@11@@oe@2-2-2013
22153049@unknown@formal@none@1@S@Producers also are trying to differentiate by concentrating on higher-profit output, such as coated and electrogalvanized products, which remain beyond the reach of minimills.@@@@1@24@@oe@2-2-2013
22153050@unknown@formal@none@1@S@Almost all capital-improvement programs announced by major steelmakers within the past year involve building electrogalvanizing lines, used to produce steel for such products as household appliances and car doors.@@@@1@29@@oe@2-2-2013
22153051@unknown@formal@none@1@S@But unfortunately, that segment is much smaller than the bread-and-butter flat-rolled steel.@@@@1@12@@oe@2-2-2013
22153052@unknown@formal@none@1@S@"It's like everyone climbing out of the QE II and getting into a lifeboat," says John Jacobson, an analyst with AUS Consultants.@@@@1@22@@oe@2-2-2013
22153053@unknown@formal@none@1@S@"After a while, someone has to go over the side."@@@@1@10@@oe@2-2-2013
22153054@unknown@formal@none@1@S@Although he doesn't expect any bankruptcies, he does see more plants being sold or closed.@@@@1@15@@oe@2-2-2013
22153055@unknown@formal@none@1@S@Robert Crandall, with the Brookings Institute, agrees.@@@@1@7@@oe@2-2-2013
22153056@unknown@formal@none@1@S@"Unless there is an enormous rate of economic growth or a further drop in the dollar, it's unlikely that consumption of U.S. produced steel will grow sufficiently to offset the growth of minimills."@@@@1@33@@oe@2-2-2013
22153057@unknown@formal@none@1@S@Not to mention the incursion of imports.@@@@1@7@@oe@2-2-2013
22153058@unknown@formal@none@1@S@Japanese and European steelmakers, which have led the recent technology developments, are anxiously awaiting the lifting of trade restraints in 1992.@@@@1@21@@oe@2-2-2013
22153059@unknown@formal@none@1@S@Moreover, the U.S. can expect more competition from low-cost producing Pacific Rim and Latin American countries.@@@@1@16@@oe@2-2-2013
22153060@unknown@formal@none@1@S@A Taiwanese steelmaker recently announced plans to build a Nucor-like plant.@@@@1@11@@oe@2-2-2013
22153061@unknown@formal@none@1@S@"People think of the steel business as an old and mundane smokestack business," says Mr. Iverson.@@@@1@16@@oe@2-2-2013
22153062@unknown@formal@none@1@S@"They're dead wrong."@@@@1@3@@oe@2-2-2013
22153063@unknown@formal@none@1@S@*USX, LTV, Bethlehem, Inland, Armco, National Steel@@@@1@7@@oe@2-2-2013
22153064@unknown@formal@none@1@S@**Projected@@@@1@1@@oe@2-2-2013
22154001@unknown@formal@none@1@S@Polaroid Corp.'s patent-infringement damages case against Eastman Kodak Co., one of the highest stakes corporate trials ever, is getting scant attention on Wall Street.@@@@1@24@@oe@2-2-2013
22154002@unknown@formal@none@1@S@After 78 days of mind-numbing testimony in federal court in Boston, the trial is being all but ignored by analysts and patent attorneys.@@@@1@23@@oe@2-2-2013
22154003@unknown@formal@none@1@S@Most have read the pre-trial documents, however, and estimate Kodak will be ordered to pay $1 billion to $1.5 billion for infringing on seven Polaroid patents.@@@@1@26@@oe@2-2-2013
22154004@unknown@formal@none@1@S@That may be the largest patent award ever, but it is well below the $12 billion Polaroid seeks.@@@@1@18@@oe@2-2-2013
22154005@unknown@formal@none@1@S@The highest patent damage award to date was in 1986, when Smith International Inc. was ordered to pay $205 million to Baker Hughes Inc. for infringing on a patent on an oil drilling bit seal.@@@@1@35@@oe@2-2-2013
22154006@unknown@formal@none@1@S@The two companies later agreed to settle for $95 million.@@@@1@10@@oe@2-2-2013
22154007@unknown@formal@none@1@S@Few analysts think it is worth their time to slog through the Polaroid trial testimony.@@@@1@15@@oe@2-2-2013
22154008@unknown@formal@none@1@S@"It's like panning for gold outside of Grand Central Station.@@@@1@10@@oe@2-2-2013
22154009@unknown@formal@none@1@S@You might find something, but the chances are low," said Michael Ellman, an analyst at Wertheim Schroder & Co.@@@@1@19@@oe@2-2-2013
22154010@unknown@formal@none@1@S@And Eugene Glazer, an analyst at Dean Witter Reynolds Inc., said: "If you hired an attorney to be there all the time and give you a (prediction) of the eventual award, I would be willing to bet that he would be off" by a lot.@@@@1@45@@oe@2-2-2013
22154011@unknown@formal@none@1@S@A 75-day trial in the early 1980s determined that Kodak, based in Rochester, N.Y., infringed on patents of Polaroid, of Cambridge, Mass.@@@@1@22@@oe@2-2-2013
22154012@unknown@formal@none@1@S@The main issues remaining are how to calculate damages and whether the infringement was "willful and deliberate."@@@@1@17@@oe@2-2-2013
22154013@unknown@formal@none@1@S@If so, the damages could be tripled.@@@@1@7@@oe@2-2-2013
22154014@unknown@formal@none@1@S@Two analysts who have read the transcripts, David Nelson of Shearson Lehman Hutton Inc. and Calvert D. Crary, a litigation analyst at Labe, Simpson & Co., think Judge A. David Mazzone will decide in Kodak's favor on the "willful and deliberate" issue.@@@@1@42@@oe@2-2-2013
22154015@unknown@formal@none@1@S@Mr. Crary said testimony by Kodak's patent counsel, Francis T. Carr of Kenyon & Kenyon, showed that "he worked with Kodak continuously from the outset of the project" in an effort to avoid infringement.@@@@1@34@@oe@2-2-2013
22154016@unknown@formal@none@1@S@"Carr told Kodak on many occasions to avoid various features because of Polaroid's patent positions," and Kodak followed his advice in every instance, Mr. Crary said.@@@@1@26@@oe@2-2-2013
22154017@unknown@formal@none@1@S@But Irving Kayton, a patent expert at George Mason University School of Law who is familiar with the case, said the fact that seven patents were infringed "suggests that infringement was willful.@@@@1@32@@oe@2-2-2013
22154018@unknown@formal@none@1@S@It's difficult to be that consistently wrong."@@@@1@7@@oe@2-2-2013
22154019@unknown@formal@none@1@S@Observers also wonder whether Judge Mazzone will use the lost-profits method of determining damages, which Polaroid favors because it would result in a larger award, or the reasonable royalty method.@@@@1@30@@oe@2-2-2013
22154020@unknown@formal@none@1@S@Polaroid claims it could have manufactured and sold all the instant cameras and film sold by Kodak if Kodak hadn't entered the market.@@@@1@23@@oe@2-2-2013
22154021@unknown@formal@none@1@S@Moreover, Polaroid contends it could have sold them at a higher price -- and thus made higher profits -- because it wouldn't have been forced to match Kodak's lower prices.@@@@1@30@@oe@2-2-2013
22154022@unknown@formal@none@1@S@Each side has called a Harvard Business School professor to testify on that issue.@@@@1@14@@oe@2-2-2013
22154023@unknown@formal@none@1@S@Kodak hired Robert Buzzell and Polaroid brought in Robert J. Dolan.@@@@1@11@@oe@2-2-2013
22154024@unknown@formal@none@1@S@"There's nothing that says that people at Harvard Business school have to agree with each other," said Mr. Buzzell.@@@@1@19@@oe@2-2-2013
22154025@unknown@formal@none@1@S@Testimony is expected to continue until early December.@@@@1@8@@oe@2-2-2013
22154026@unknown@formal@none@1@S@A decision isn't expected until some time next year.@@@@1@9@@oe@2-2-2013
22155001@unknown@formal@none@1@S@International Business Machines Corp. said earnings tumbled 30% in the third quarter, even a bit further than expected, rendering the outlook doubtful for the next few quarters.@@@@1@27@@oe@2-2-2013
22155002@unknown@formal@none@1@S@The main reason was a delay in shipment of new high-end disk drives, a business that accounts for some 10% of IBM's $60 billion of annual revenue.@@@@1@27@@oe@2-2-2013
22155003@unknown@formal@none@1@S@IBM, which telegraphed the poor results three weeks ago, also cited an increase in its leasing business, which tends to lock in business long-term but cut revenue in the near term.@@@@1@31@@oe@2-2-2013
22155004@unknown@formal@none@1@S@In addition, IBM noted that the stronger dollar has cut the value of overseas revenue and earnings when they are translated into dollars.@@@@1@23@@oe@2-2-2013
22155005@unknown@formal@none@1@S@Earnings fell to $877 million, or $1.51 a share, somewhat below securities analysts' revised expectations of around $1.60 a share.@@@@1@20@@oe@2-2-2013
22155006@unknown@formal@none@1@S@That compared with the year-earlier $1.25 billion, or $2.10 a share -- which was inflated by a 15-cents-a-share gain from the sale of some MCI Communications Corp. stock and by an unspecified amount from a payment by Fujitsu Ltd. relating to a software dispute.@@@@1@44@@oe@2-2-2013
22155007@unknown@formal@none@1@S@Revenue climbed 4.3% to $14.31 billion from $13.71 billion.@@@@1@9@@oe@2-2-2013
22155008@unknown@formal@none@1@S@IBM, Armonk, N.Y., remained upbeat.@@@@1@5@@oe@2-2-2013
22155009@unknown@formal@none@1@S@The computer giant, whose U.S. results have been dismal for years, noted that revenue rose again in the U.S. in the third quarter, following an increase in the second period.@@@@1@30@@oe@2-2-2013
22155010@unknown@formal@none@1@S@The company said in a statement that "demand for IBM products and services continues to be good world-wide.@@@@1@18@@oe@2-2-2013
22155011@unknown@formal@none@1@S@We do not see anything in the fundamentals of our business that would cause us to change our strategy of investing for profitable growth."@@@@1@24@@oe@2-2-2013
22155012@unknown@formal@none@1@S@Securities analysts, however, remained downbeat.@@@@1@5@@oe@2-2-2013
22155013@unknown@formal@none@1@S@"I think 1990 will be another mediocre year," said Steve Milunovich of First Boston.@@@@1@14@@oe@2-2-2013
22155014@unknown@formal@none@1@S@Jay Stevens of Dean Witter actually cut his per-share earnings estimate to $9 from $9.50 for 1989 and to $9.50 from $10.35 in 1990 because he decided sales would be even weaker than he had expected.@@@@1@36@@oe@2-2-2013
22155015@unknown@formal@none@1@S@Both estimates would mark declines from the 1988 net of $5.81 billion, or $9.80 a share, which itself was well below the record IBM set in 1984.@@@@1@27@@oe@2-2-2013
22155016@unknown@formal@none@1@S@Mr. Stevens said he kept a "buy/hold" recommendation on the stock only because "all the damage has been done."@@@@1@19@@oe@2-2-2013
22155017@unknown@formal@none@1@S@He said the stock hasn't traded below 1 1/2 times book value over the past 10 years, which at the moment computes to a stock price of $100.@@@@1@28@@oe@2-2-2013
22155018@unknown@formal@none@1@S@The stock closed yesterday at $103 a share, up just $1 in composite trading on the New York Stock Exchange as the market surged.@@@@1@24@@oe@2-2-2013
22155019@unknown@formal@none@1@S@Analysts worry that the disk-drive and leasing problems will last at least through the first quarter.@@@@1@16@@oe@2-2-2013
22155020@unknown@formal@none@1@S@"A key part of the question is, how soon does this disk-drive come and how soon does production ramp up?" said Steve Cohen at SoundView Financial Group.@@@@1@27@@oe@2-2-2013
22155021@unknown@formal@none@1@S@"And the input I've had from customers is that it still could be a while."@@@@1@15@@oe@2-2-2013
22155022@unknown@formal@none@1@S@On leasing, Bob Djurdjevic at Annex Research said he thinks IBM has hurt itself unnecessarily.@@@@1@15@@oe@2-2-2013
22155023@unknown@formal@none@1@S@He said IBM has priced its leases aggressively, thinking that would help win business.@@@@1@14@@oe@2-2-2013
22155024@unknown@formal@none@1@S@But he said IBM would have won the business anyway as a sale to a third party that would have then leased the equipment to the customer.@@@@1@27@@oe@2-2-2013
22155025@unknown@formal@none@1@S@He said IBM has not only hurt its short-term revenue outlook but has also been losing money on its leases.@@@@1@20@@oe@2-2-2013
22155026@unknown@formal@none@1@S@Bob Bardagy, executive vice president of marketing at Comdisco Inc., a huge leasing firm, said: "To put it mildly, IBM Credit has been doing some of the worst economic deals of any leasing company we have ever seen."@@@@1@38@@oe@2-2-2013
22155027@unknown@formal@none@1@S@IBM is expected to get a boost soon when it announces some new versions of its mainframes.@@@@1@17@@oe@2-2-2013
22155028@unknown@formal@none@1@S@But the basic technology in the line is almost five years old, which means it is long in the tooth, and competitors are rolling out strong products of their own.@@@@1@30@@oe@2-2-2013
22155029@unknown@formal@none@1@S@IBM is gaining momentum in the personal-computer market, and is expected to introduce some impressive workstations early next year.@@@@1@19@@oe@2-2-2013
22155030@unknown@formal@none@1@S@But it's hard to squeeze much profit out of the personal-computer business these days, and the workstation market, while important, is too small to rely on for much growth.@@@@1@29@@oe@2-2-2013
22155031@unknown@formal@none@1@S@The disk drives will doubtless sell well when they finally become available.@@@@1@12@@oe@2-2-2013
22155032@unknown@formal@none@1@S@But the AS/400, IBM's highly successful minicomputer line, is losing its momentum, and some analysts said sales could even decline in the fourth quarter.@@@@1@24@@oe@2-2-2013
22155033@unknown@formal@none@1@S@In addition, IBM's growth in software in the third quarter was just 8.8%, well below historical levels even when adjusted to reflect last year's payment from Fujitsu and the stronger dollar.@@@@1@31@@oe@2-2-2013
22155034@unknown@formal@none@1@S@And expenses, up 7.9% in the quarter, have stayed stubbornly high.@@@@1@11@@oe@2-2-2013
22155035@unknown@formal@none@1@S@In the nine months, IBM earned $3.17 billion, or $5.43 a share, down 8.4% from the year-earlier $3.46 billion, or $5.83 a share.@@@@1@23@@oe@2-2-2013
22155036@unknown@formal@none@1@S@Revenue increased 6.5% to $42.25 billion from $39.68 billion.@@@@1@9@@oe@2-2-2013
22156001@unknown@formal@none@1@S@PepsiCo Inc.'s chairman said he is "more than comfortable with" analysts' estimates that third-quarter earnings rose to at least 98 cents to $1 a share from 91 cents the year earlier.@@@@1@31@@oe@2-2-2013
22156002@unknown@formal@none@1@S@D. Wayne Calloway, also chief executive officer of the company, indicated that he expects analysts to raise their forecasts for 1989 after the company releases its earnings today.@@@@1@28@@oe@2-2-2013
22156003@unknown@formal@none@1@S@So far, analysts have said they are looking for $3.30 to $3.35 a share.@@@@1@14@@oe@2-2-2013
22156004@unknown@formal@none@1@S@After today's announcement, that range could increase to $3.35 to $3.40 a share.@@@@1@13@@oe@2-2-2013
22156005@unknown@formal@none@1@S@The official said he also would be comfortable with that new range.@@@@1@12@@oe@2-2-2013
22156006@unknown@formal@none@1@S@In 1988, the soft-drink giant earned $2.90 a share.@@@@1@9@@oe@2-2-2013
22156007@unknown@formal@none@1@S@Results for 1989 will include about 40 cents a share from the dilutive effects of snack-food and bottling company acquisitions.@@@@1@20@@oe@2-2-2013
22156008@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, the company closed yesterday at $57.125 a share, up $3.125.@@@@1@19@@oe@2-2-2013
22156009@unknown@formal@none@1@S@The company said third-quarter sales are expected to increase 25% from $3.12 billion of last year's third quarter.@@@@1@18@@oe@2-2-2013
22156010@unknown@formal@none@1@S@Domestic soft-drink bottler case sales are estimated to have risen only 1% in the third quarter -- well below the 4% to 5% growth of recent years -- but about in line with the rest of the soft-drink industry.@@@@1@39@@oe@2-2-2013
22156011@unknown@formal@none@1@S@Mr. Calloway blamed the slower volume on rainier weather, a dearth of new products in the industry and -- to a much lesser extent -- pricing.@@@@1@26@@oe@2-2-2013
22156012@unknown@formal@none@1@S@PepsiCo said its soft-drink prices were about 2% higher in the quarter.@@@@1@12@@oe@2-2-2013
22156013@unknown@formal@none@1@S@Mr. Calloway also noted that soft-drink volume rose a hefty 9% in last year's third quarter, making the comparison more difficult.@@@@1@21@@oe@2-2-2013
22156014@unknown@formal@none@1@S@International soft-drink volume was up about 6%.@@@@1@7@@oe@2-2-2013
22156015@unknown@formal@none@1@S@Snack-food tonnage increased a strong 7% in the third quarter, while domestic profit increased in double digits, Mr. Calloway said.@@@@1@20@@oe@2-2-2013
22156016@unknown@formal@none@1@S@Excluding the British snack-food business acquired in July, snack-food international tonnage jumped 40%, with sales strong in Spain, Mexico and Brazil.@@@@1@21@@oe@2-2-2013
22156017@unknown@formal@none@1@S@Total snack-food profit rose 30%.@@@@1@5@@oe@2-2-2013
22156018@unknown@formal@none@1@S@Led by Pizza Hut and Taco Bell, restaurant earnings increased about 25% in the third quarter on a 22% sales increase.@@@@1@21@@oe@2-2-2013
22156019@unknown@formal@none@1@S@Same-store sales for Pizza Hut rose about 13%, while Taco Bell's increased 22%, as the chain continues to benefit from its price-value strategy.@@@@1@23@@oe@2-2-2013
22156020@unknown@formal@none@1@S@Taco Bell has turned around declining customer counts by permanently lowering the price of its tacos.@@@@1@16@@oe@2-2-2013
22156021@unknown@formal@none@1@S@Same store-sales for Kentucky Fried Chicken, which has struggled with increased competition in the fast-food chicken market and a lack of new products, rose only 1%.@@@@1@26@@oe@2-2-2013
22156022@unknown@formal@none@1@S@The operation, which has been slow to respond to consumers' shifting tastes away from fried foods, has been developing a grilled-chicken product that may be introduced nationally at the end of next year.@@@@1@33@@oe@2-2-2013
22156023@unknown@formal@none@1@S@The new product has performed well in a market test in Las Vegas, Nev., Mr. Calloway said.@@@@1@17@@oe@2-2-2013
22156024@unknown@formal@none@1@S@After a four-year, $7.7 billion acquisition binge that brought a major soft-drink company, soda bottlers, a fast-food chain and an overseas snack-food giant to Pepsi, Mr. Calloway said he doesn't expect any major acquisition in the next year or so.@@@@1@40@@oe@2-2-2013
22156025@unknown@formal@none@1@S@But, "You never can tell," he added, "you have to take advantage of opportunities.@@@@1@14@@oe@2-2-2013
22157001@unknown@formal@none@1@S@President Bush chose Martin Allday, a longtime friend from Texas, to be chairman of the Federal Energy Regulatory Commission.@@@@1@19@@oe@2-2-2013
22157002@unknown@formal@none@1@S@Mr. Allday would succeed Martha Hesse, who is resigning.@@@@1@9@@oe@2-2-2013
22157003@unknown@formal@none@1@S@The White House said Ms. Hesse, a Chicago businesswoman who previously held posts at the Energy Department and FERC, is leaving to become a vice president of First Chicago Corp.@@@@1@30@@oe@2-2-2013
22157004@unknown@formal@none@1@S@Mr. Allday, an attorney in Midland, Texas, has been solicitor at the Interior Department.@@@@1@14@@oe@2-2-2013
22157005@unknown@formal@none@1@S@He met Mr. Bush in the 1950s, when the president was a young oil man in Midland and Mr. Allday was a lawyer for an oil firm.@@@@1@27@@oe@2-2-2013
22157006@unknown@formal@none@1@S@The FERC is a five-member commission that regulates billions of dollars of interstate wholesale energy transactions.@@@@1@16@@oe@2-2-2013
22157007@unknown@formal@none@1@S@Mr. Allday's appointment is subject to confirmation by the Senate.@@@@1@10@@oe@2-2-2013
22157008@unknown@formal@none@1@S@Administration officials said a date for Ms. Hesse's departure hasn't been set.@@@@1@12@@oe@2-2-2013
22158001@unknown@formal@none@1@S@CALIFORNIA REAL ESTATE INVESTMENT Corp. said its directors declared a dividend of five cents per Class A common stock payable Nov. 6 to stock of record Oct. 16.@@@@1@28@@oe@2-2-2013
22158002@unknown@formal@none@1@S@The dividend represents the balance of its regular quarterly payout of 10 cents a share, of which half was paid July 17 in a final distribution prior to its merger with B.B. Real Estate Investment Corp., also in July.@@@@1@39@@oe@2-2-2013
22158003@unknown@formal@none@1@S@The company said it hopes to resume its schedule of regular quarterly dividends at the end of this year.@@@@1@19@@oe@2-2-2013
22159001@unknown@formal@none@1@S@Hydro-Quebec said it notified Central Maine Power Co. it will cancel a $4 billion contract to supply electricity to the Maine utility.@@@@1@22@@oe@2-2-2013
22159002@unknown@formal@none@1@S@The provincially owned utility said it is tearing up the deal because "the contract's objectives can't be fulfilled."@@@@1@18@@oe@2-2-2013
22159003@unknown@formal@none@1@S@Hydro-Quebec said Maine regulators' refusal to approve the contract earlier this year halted work on transmission lines and stopped negotiations for resale of electricity carried through Maine to other utilities.@@@@1@30@@oe@2-2-2013
22159004@unknown@formal@none@1@S@"It would now be physically impossible to begin deliveries in 1992," a Hydro-Quebec official said.@@@@1@15@@oe@2-2-2013
22159005@unknown@formal@none@1@S@The contract was to run from 1992 to 2020.@@@@1@9@@oe@2-2-2013
22159006@unknown@formal@none@1@S@Under the contract Hydro-Quebec was to supply 400 megawatts of power to Central Maine Power starting in 1992, 600 megawatts starting in 1995 and 900 megawatts starting in@@@@1@28@@oe@2-2-2013
22159007@unknown@formal@none@1@S@Hydro-Quebec said Maine regulators' refusal to approve the contract means Central Maine Power has lost its place in line.@@@@1@19@@oe@2-2-2013
22159008@unknown@formal@none@1@S@"We won't sign any new contracts {with deliveries} beginning earlier than 2000," the Hydro-Quebec official said.@@@@1@16@@oe@2-2-2013
22159009@unknown@formal@none@1@S@He said Hydro-Quebec already has some "customers in mind" for the power that was to be delivered to Maine.@@@@1@19@@oe@2-2-2013
22159010@unknown@formal@none@1@S@"Nothing has happened since we signed the contract to undermine our conviction that Hydro-Quebec was the lowest-cost, most environmentally acceptable choice for meeting a part of our customers' energy needs through the year 2020," said Central Maine senior vice president Donald F. Kelly.@@@@1@43@@oe@2-2-2013
22159011@unknown@formal@none@1@S@Central Maine said it is evaluating "many energy options" to make up for the lost future power, including new energy generation and management proposals from New England, and possibly new Canadian purchases.@@@@1@32@@oe@2-2-2013
22160001@unknown@formal@none@1@S@CHICAGO - Options traders were among the big victims of Friday's plunging stock market, including one small firm that required an emergency $50 million bailout.@@@@1@25@@oe@2-2-2013
22160002@unknown@formal@none@1@S@While Monday's rebounding markets helped other investors recoup losses, many options customers and professional traders in stock-index options and the options on takeover stocks were left with multimillion-dollar losses, traders here and in New York said.@@@@1@36@@oe@2-2-2013
22160003@unknown@formal@none@1@S@Options traders were hurt worse than others on Friday because of the highly volatile nature of options, which often rise or fall in value several times the amount of the price change in the individual stock or index of stocks on which they are based.@@@@1@45@@oe@2-2-2013
22160004@unknown@formal@none@1@S@Thus, options traders Friday were stuck with losses that also were several times larger than those suffered by many stock traders in New York.@@@@1@24@@oe@2-2-2013
22160005@unknown@formal@none@1@S@Jeffrey Miller of Miller Tabak Hirsch & Co. said that given the high degree of leverage in the options market, it is "very easy for these guys to get wiped out.@@@@1@31@@oe@2-2-2013
22160006@unknown@formal@none@1@S@That may just be the nature of these highly leveraged little creatures."@@@@1@12@@oe@2-2-2013
22160007@unknown@formal@none@1@S@An options contract gives the holder the right to buy (call) or sell (put) a specific amount of stock, or in this case the value of a stock index, based on a predetermined price within a given time period.@@@@1@39@@oe@2-2-2013
22160008@unknown@formal@none@1@S@Options traders who, in return for a small fee, or premium, had previously sold put options on stocks or stock indexes were forced on Friday to buy those contracts back at the previously agreed prices, which were substantially above those in the market as it was falling.@@@@1@47@@oe@2-2-2013
22160009@unknown@formal@none@1@S@They then had no choice in many cases but to sell the contracts at prevailing prices -- in most cases at a substantial loss.@@@@1@24@@oe@2-2-2013
22160010@unknown@formal@none@1@S@The latest round of losses is likely to be a serious blow to the Chicago Board Options Exchange, which has never fully recovered from the aftershock of Black Monday, when investors fled the market because of huge losses.@@@@1@38@@oe@2-2-2013
22160011@unknown@formal@none@1@S@Making matters worse was the fact that late Friday afternoon the CBOE halted stock-index options trading in step with the Chicago Mercantile Exchange's halt in stock-index futures.@@@@1@27@@oe@2-2-2013
22160012@unknown@formal@none@1@S@But while the Merc reopened a half hour later, the CBOE remained closed, leaving many options traders unable to make trades that might have reduced the losses.@@@@1@27@@oe@2-2-2013
22160013@unknown@formal@none@1@S@CBOE Chairman Alger "Duke" Chapman, said that, unlike the futures market, the options exchange has to open in a rotation that allows each different options series to trade.@@@@1@28@@oe@2-2-2013
22160014@unknown@formal@none@1@S@Exchange officials reasoned that they wouldn't have been able to make such a rotation with the time remaining Friday afternoon, and with the stock-index futures on the verge of closing for a second and final time, the CBOE reasoned that its best course was to remain closed.@@@@1@47@@oe@2-2-2013
22160015@unknown@formal@none@1@S@The damage was so bad at Fossett Corp., an options trading firm here, that it was forced to transfer its accounts to First Options of Chicago, a unit of Continental Bank Corp., as a result of options trading losses.@@@@1@39@@oe@2-2-2013
22160016@unknown@formal@none@1@S@Fosset so far is the only member of a financial exchange to be forced to be taken over by another firm as a result of Friday's rout.@@@@1@27@@oe@2-2-2013
22160017@unknown@formal@none@1@S@Fossett still had several million dollars in capital left after Friday's close of trading, but not enough that regulators, worried about another potential market plunge yesterday, would let it reopen for trading, options exchange officials said.@@@@1@36@@oe@2-2-2013
22160018@unknown@formal@none@1@S@Thus, in an unprecedented arrangement underscoring the seriousness of the transfer, the CBOE, the American Stock Exchange and the Options Clearing Corp., as well as the firm's owner, Stephen Fossett, put up a total of $50 million to guarantee the customer positions being transferred to the bank holding company subsidiary in case the market plunged again yesterday.@@@@1@57@@oe@2-2-2013
22160019@unknown@formal@none@1@S@S. Waite Rawls III, vice chairman of Continental Bank, First Options' parent company, said the firm took on about 160 accounts formerly held by Fossett, almost all of them belonging to professional floor traders.@@@@1@34@@oe@2-2-2013
22160020@unknown@formal@none@1@S@"Steve and his firm were still worth a lot of money," Mr. Rawls said.@@@@1@14@@oe@2-2-2013
22160021@unknown@formal@none@1@S@"A package of credit support was put together -- including the assets of Steve and his firm."@@@@1@17@@oe@2-2-2013
22160022@unknown@formal@none@1@S@The bailout was cobbled together over the weekend, with officials from the Federal Reserve Board, Securities and Exchange Commission, Comptroller of the Currency and Treasury as well as the options exchanges.@@@@1@31@@oe@2-2-2013
22160023@unknown@formal@none@1@S@"It was great to have the luxury of time," Mr. Rawls said.@@@@1@12@@oe@2-2-2013
22160024@unknown@formal@none@1@S@At one point, an options industry official had to talk the Federal Reserve Bank of Chicago's night watchman into giving him the home phone number of Silas Keene, Chicago Fed president.@@@@1@31@@oe@2-2-2013
22160025@unknown@formal@none@1@S@First Options didn't have to put any money into the bailout.@@@@1@11@@oe@2-2-2013
22160026@unknown@formal@none@1@S@Yesterday's rally in the stock, futures and options markets led CBOE and Amex officials to conclude that the $50 million in guarantees almost certainly won't need to be tapped by First Options.@@@@1@32@@oe@2-2-2013
22160027@unknown@formal@none@1@S@The Fossett firm had some losses and liquidity problems during the October 1987 crash as well, Mr. Rawls said.@@@@1@19@@oe@2-2-2013
22160028@unknown@formal@none@1@S@A federal official said that Continental Bank worked with securities and banking regulators over the weekend to fashion the Fossett bailout, but that conditions weren't dictated by those agencies.@@@@1@29@@oe@2-2-2013
22160029@unknown@formal@none@1@S@"It was their business decision," the official said.@@@@1@8@@oe@2-2-2013
22160030@unknown@formal@none@1@S@Officials at Options Clearing Corp., which processes all options trades for U.S. exchanges, said that the $50 million guarantee was unprecedented, but was necessary to help insure the integrity of the options markets.@@@@1@33@@oe@2-2-2013
22160031@unknown@formal@none@1@S@"It was an extraordinary situation that needed extraordinary steps," said Paul Stevens, OCC president and chief operating officer.@@@@1@18@@oe@2-2-2013
22160032@unknown@formal@none@1@S@Mr. Stevens declined to give the specific contributions to the $50 million guarantee from each participant.@@@@1@16@@oe@2-2-2013
22160033@unknown@formal@none@1@S@But CBOE and Amex officials said that Options Clearing Corp. contributed $20 million to the guarantee, the CBOE put up $8 million, the Amex added $4 million and $18 million came from Mr. Fossett's own assets.@@@@1@36@@oe@2-2-2013
22160034@unknown@formal@none@1@S@Mr. Fossett couldn't be reached to comment.@@@@1@7@@oe@2-2-2013
22161001@unknown@formal@none@1@S@Debora Foster takes off her necklace, settles herself on a padded chair and gently leans forward.@@@@1@16@@oe@2-2-2013
22161002@unknown@formal@none@1@S@With a jazz-piano tape playing softly in the background, the soothing hands of Sabina Vidunas begin to work on Ms. Foster's neck and shoulders.@@@@1@24@@oe@2-2-2013
22161003@unknown@formal@none@1@S@"It's like an oasis in this room," Ms. Foster purrs.@@@@1@10@@oe@2-2-2013
22161004@unknown@formal@none@1@S@The room in question is the directors' lounge of H.J. Heinz Co., 60 floors above the bustle of Pittsburgh.@@@@1@19@@oe@2-2-2013
22161005@unknown@formal@none@1@S@There, amid oil paintings and marble tables, massages are administered every Wednesday.@@@@1@12@@oe@2-2-2013
22161006@unknown@formal@none@1@S@"On days that I'm really busy," says Ms. Foster, who works in public relations for the company, "it seems decadent to take time off for a massage."@@@@1@27@@oe@2-2-2013
22161007@unknown@formal@none@1@S@Although such sessions may never replace coffee breaks, on-site massage, as it is known in the trade, is certainly infiltrating corporate America.@@@@1@22@@oe@2-2-2013
22161008@unknown@formal@none@1@S@In some companies middle managers sneak massage therapists into the office, fearful that upper-level executives won't approve.@@@@1@17@@oe@2-2-2013
22161009@unknown@formal@none@1@S@Ms. Foster's indulgence is nothing like the oily, hour-long rubfests enjoyed by spa visitors.@@@@1@14@@oe@2-2-2013
22161010@unknown@formal@none@1@S@Nor does it at all resemble (despite what some executives think) the more intimate variety offered at specialty parlors in bad parts of town.@@@@1@24@@oe@2-2-2013
22161011@unknown@formal@none@1@S@On the contrary, office rubdowns usually take place in dimly lighted conference rooms, where stressed-out employees relax in specially designed chairs, fully clothed.@@@@1@23@@oe@2-2-2013
22161012@unknown@formal@none@1@S@The massages last 15 minutes and typically cost about $10.@@@@1@10@@oe@2-2-2013
22161013@unknown@formal@none@1@S@Some companies, including Heinz, even pay part of the fee.@@@@1@10@@oe@2-2-2013
22161014@unknown@formal@none@1@S@Ms. Vidunas has been seeing some 15 clients a visit since the program was started at Heinz last year.@@@@1@19@@oe@2-2-2013
22161015@unknown@formal@none@1@S@Anthony J.F. O'Reilly, the company's chairman, swears by her firm touch, saying regular massages are a balm for his old football injuries.@@@@1@22@@oe@2-2-2013
22161016@unknown@formal@none@1@S@Massage advocates say that kneading the head, shoulders, neck and back can go a long way toward easing tension and improving morale.@@@@1@22@@oe@2-2-2013
22161017@unknown@formal@none@1@S@They also insist that touching is a basic need, as powerful as the need for food or sleep, and that the office is as good a place as any to do it.@@@@1@32@@oe@2-2-2013
22161018@unknown@formal@none@1@S@"The blood flows to your head, you feel lightheaded and you don't feel tension around the head or neck," says Minnie Morey, an operations supervisor at the Social Security office in Grand Rapids, Mich., where massages began last month.@@@@1@39@@oe@2-2-2013
22161019@unknown@formal@none@1@S@"When you leave the room after your massage, people say you look like you're glowing."@@@@1@15@@oe@2-2-2013
22161020@unknown@formal@none@1@S@Adds Candice Ohlman, the 35-year-old masseuse who plies her trade in the Grand Rapids office, "They fall in love with my hands."@@@@1@22@@oe@2-2-2013
22161021@unknown@formal@none@1@S@Not everyone, however, is at ease with office massage.@@@@1@9@@oe@2-2-2013
22161022@unknown@formal@none@1@S@Three years ago, the Internal Revenue Service's office in San Jose, Calif., opened its doors to on-site massage.@@@@1@18@@oe@2-2-2013
22161023@unknown@formal@none@1@S@And even though employees paid the bill, taxpayers grumbled.@@@@1@9@@oe@2-2-2013
22161024@unknown@formal@none@1@S@"Sometimes, with the release of stress, you hear `oohs' and `ahs' coming out of the room," explains Morgan Banks, the agency's health specialist.@@@@1@23@@oe@2-2-2013
22161025@unknown@formal@none@1@S@"And you can't have taxpayers coming into an audit hearing `oohs' and `ahs.'"@@@@1@13@@oe@2-2-2013
22161026@unknown@formal@none@1@S@Last month, the complaints intensified and the massages ended.@@@@1@9@@oe@2-2-2013
22161027@unknown@formal@none@1@S@"Now we're looking for a room with thicker walls," Ms. Banks says.@@@@1@12@@oe@2-2-2013
22161028@unknown@formal@none@1@S@Massage also has an image problem to contend with.@@@@1@9@@oe@2-2-2013
22161029@unknown@formal@none@1@S@Some masseurs have tried to get around this by calling themselves "bodyworkers" and describing their office visits as "reinvigoration breaks."@@@@1@20@@oe@2-2-2013
22161030@unknown@formal@none@1@S@But massage, no matter how chaste, is still associated in many minds with seedy fronts for prostitution, and that makes some executives nervous.@@@@1@23@@oe@2-2-2013
22161031@unknown@formal@none@1@S@Last year, the research and development division of Weyerhaeuser Co., the large wood-products concern, invited a masseuse to its Tacoma, Wash., offices.@@@@1@22@@oe@2-2-2013
22161032@unknown@formal@none@1@S@Phil Harms, a software engineer, was an eager customer.@@@@1@9@@oe@2-2-2013
22161033@unknown@formal@none@1@S@"You build up a lot of tension working at a terminal all day," he says.@@@@1@15@@oe@2-2-2013
22161034@unknown@formal@none@1@S@But after about eight months, the vice president of the division, Ed Soule, learned about the sessions and brought them to a halt.@@@@1@23@@oe@2-2-2013
22161035@unknown@formal@none@1@S@Mr. Soule says his only beef was that the massages were being given in a company conference room; the department's supervised health facility would have been fine.@@@@1@27@@oe@2-2-2013
22161036@unknown@formal@none@1@S@"In my view, {massages} should be managed with an appropriate mixture of males and females around," he says.@@@@1@18@@oe@2-2-2013
22161037@unknown@formal@none@1@S@Given such attitudes, some corporate masseurs prefer to go about their business quietly.@@@@1@13@@oe@2-2-2013
22161038@unknown@formal@none@1@S@Russell Borner of Park Ridge, N.J., says he has been working for the past year at a huge chemical and manufacturing concern in New York -- unbeknownst to the company's executives.@@@@1@31@@oe@2-2-2013
22161039@unknown@formal@none@1@S@He visits the same department every two or three weeks.@@@@1@10@@oe@2-2-2013
22161040@unknown@formal@none@1@S@His massage chair is kept in a closet, and a secretary escorts him past security.@@@@1@15@@oe@2-2-2013
22161041@unknown@formal@none@1@S@"This is common with a lot of large companies," says Mr. Borner, who worked for American Telephone & Telegraph Co. for 23 years before choosing his current trade.@@@@1@28@@oe@2-2-2013
22161042@unknown@formal@none@1@S@Managers, he contends, "are afraid how they're going to look in the eyes of their peers.@@@@1@16@@oe@2-2-2013
22161043@unknown@formal@none@1@S@My vision is to change human consciousness towards touch.@@@@1@9@@oe@2-2-2013
22161044@unknown@formal@none@1@S@My attitude is: Let's come out of the closet."@@@@1@9@@oe@2-2-2013
22161045@unknown@formal@none@1@S@Occasionally, all that's needed is a little coaxing.@@@@1@8@@oe@2-2-2013
22161046@unknown@formal@none@1@S@Elisa Byler, a St. Louis masseuse, won over officials at Emerson Electric Co., a maker of electrical and electronic equipment, by providing documents and other articles trumpeting the therapeutic benefits of massage.@@@@1@32@@oe@2-2-2013
22161047@unknown@formal@none@1@S@She notes that she also stresses professionalism during her weekly visits.@@@@1@11@@oe@2-2-2013
22161048@unknown@formal@none@1@S@"I pull my hair back, wear a little makeup and look corporate," says Ms. Byler, who has been visiting Emerson since January.@@@@1@22@@oe@2-2-2013
22161049@unknown@formal@none@1@S@"If I go in there as I normally dress, they'd ask, `Who is this hippie?'"@@@@1@15@@oe@2-2-2013
22161050@unknown@formal@none@1@S@The self-proclaimed father of on-site massage is David Palmer, a 41-year-old San Francisco masseur whose mission is to save the touch-starved masses.@@@@1@22@@oe@2-2-2013
22161051@unknown@formal@none@1@S@To help do this, Mr. Palmer developed a portable massage chair three years ago that he hopes will bring "structured touching" into mainstream America.@@@@1@24@@oe@2-2-2013
22161052@unknown@formal@none@1@S@"The culture is not ready to take off its clothes, lie down and be touched for an hour for $45," he says.@@@@1@22@@oe@2-2-2013
22161053@unknown@formal@none@1@S@"The idea is to keep the clothes on and to keep people seated.@@@@1@13@@oe@2-2-2013
22161054@unknown@formal@none@1@S@The chair is a way to package massage."@@@@1@8@@oe@2-2-2013
22161055@unknown@formal@none@1@S@Sitting in one of Mr. Palmer's chairs, which cost $425 and have since been copied by others, is a bit like straddling a recliner.@@@@1@24@@oe@2-2-2013
22161056@unknown@formal@none@1@S@Customers lean forward, rest their knees on side supports and bury their face in padding on the back of the chair.@@@@1@21@@oe@2-2-2013
22161057@unknown@formal@none@1@S@(Ms. Ohlman, the Grand Rapids masseuse, says she has heard the odd-looking contraption compared to something out of the Spanish Inquisition.)@@@@1@21@@oe@2-2-2013
22161058@unknown@formal@none@1@S@Mr. Palmer, who serves as president of the On-Site Massage Association and writes an industry newsletter, says some 4,000 practitioners -- out of about 50,000 certified masseurs across the country -- now use massage chairs in the workplace, as well as on street corners, in airports and malls, and at conventions and other gatherings where weary people can be found.@@@@1@60@@oe@2-2-2013
22161059@unknown@formal@none@1@S@Scot MacInnis, a masseur in Boulder, Colo., had a scary experience while massaging a man in a natural-foods supermarket as part of a store promotion.@@@@1@25@@oe@2-2-2013
22161060@unknown@formal@none@1@S@Three minutes into the massage, the man curled up, began shaking and turned red.@@@@1@14@@oe@2-2-2013
22161061@unknown@formal@none@1@S@Paramedics were called.@@@@1@3@@oe@2-2-2013
22161062@unknown@formal@none@1@S@A week later, the man told Mr. MacInnis he had suffered a mild heart attack unrelated to the massage.@@@@1@19@@oe@2-2-2013
22161063@unknown@formal@none@1@S@"It was a powerful point in my career," says the 31-year-old Mr. MacInnis, who has since taken out a $1 million liability policy for his business.@@@@1@26@@oe@2-2-2013
22161064@unknown@formal@none@1@S@"But he pulled through, and after the ambulance left, there were still six people in line waiting for a massage.@@@@1@20@@oe@2-2-2013
22161065@unknown@formal@none@1@S@The next woman was older, and I was afraid to touch her.@@@@1@12@@oe@2-2-2013
22161066@unknown@formal@none@1@S@But it's like falling off a horse and getting back on."@@@@1@11@@oe@2-2-2013
22161067@unknown@formal@none@1@S@Despite the number of fans that office massage has won, some purists look down on it, arguing that naked, full-body rubs are the only way to go.@@@@1@27@@oe@2-2-2013
22161068@unknown@formal@none@1@S@Linda Aldridge, who does full-body work in Pittsburgh, says that while on-site massage is better than nothing, tired workers should realize it is only the tip of the iceberg.@@@@1@29@@oe@2-2-2013
22161069@unknown@formal@none@1@S@"Whole areas of their bodies are neglected," she says, adding that clothes ruin the experience.@@@@1@15@@oe@2-2-2013
22161070@unknown@formal@none@1@S@"There's nothing like skin to skin.@@@@1@6@@oe@2-2-2013
22162001@unknown@formal@none@1@S@In what is believed to be the first cancellation of a loan to China since the June 4 killings in Beijing, an international bank syndicate has terminated a $55 million credit for a Shanghai property project.@@@@1@36@@oe@2-2-2013
22162002@unknown@formal@none@1@S@The syndicate, led by Schroders Asia Ltd., agreed last November to provide the loan to Asia Development Corp., a U.S. property developer.@@@@1@22@@oe@2-2-2013
22162003@unknown@formal@none@1@S@But several weeks ago, in the wake of the Beijing killings, the loan was canceled, according to bankers and executives close to the project.@@@@1@24@@oe@2-2-2013
22162004@unknown@formal@none@1@S@Asia Development and Schroders declined to comment on the move.@@@@1@10@@oe@2-2-2013
22162005@unknown@formal@none@1@S@Lenders had doubts about the project even before June 4, but the harsh crackdown, which caused many businesses to reassess their China transactions, "gave the banks the out they wanted," says an official close to the Shanghai venture.@@@@1@38@@oe@2-2-2013
22162006@unknown@formal@none@1@S@The decision to cancel the loan exemplifies the tough attitude bankers have taken toward China since June 4.@@@@1@18@@oe@2-2-2013
22162007@unknown@formal@none@1@S@While some commercial lending has resumed, international lenders remain nervous about China's economic troubles and foreign debt -- $40 billion at the end of 1988.@@@@1@25@@oe@2-2-2013
22162008@unknown@formal@none@1@S@Many loans are being renegotiated, especially those tied to the hotel sector, which has been hit hard by a post-June 4 tourism slump.@@@@1@23@@oe@2-2-2013
22162009@unknown@formal@none@1@S@Many bankers view property-sector loans as particularly risky.@@@@1@8@@oe@2-2-2013
22162010@unknown@formal@none@1@S@The canceled Shanghai loan leaves Asia Development, a small concern, saddled with a half-completed 32-story apartment building and heavy debts.@@@@1@20@@oe@2-2-2013
22162011@unknown@formal@none@1@S@The company owes $11 million to the Shui On Group, the project's Hong Kong contractor, and a significant, though unspecified, amount in legal fees to Coudert Brothers, a U.S. law firm, the sources say.@@@@1@34@@oe@2-2-2013
22162012@unknown@formal@none@1@S@The project, known as Lotus Mansion, has been mired in controversy.@@@@1@11@@oe@2-2-2013
22162013@unknown@formal@none@1@S@When the loan agreement was announced, it was hailed as one of the first Western-style financing transactions ever used in China.@@@@1@21@@oe@2-2-2013
22162014@unknown@formal@none@1@S@Unlike most loans to China, there was no Chinese guarantor.@@@@1@10@@oe@2-2-2013
22162015@unknown@formal@none@1@S@Instead, the banks secured a promise from state-owned Bank of Communications that it would lend Asia Development the entire $55 million at maturity to finance repayment of the original borrowing.@@@@1@30@@oe@2-2-2013
22162016@unknown@formal@none@1@S@The loan was to have matured in just two to three years, as soon as construction was completed.@@@@1@18@@oe@2-2-2013
22162017@unknown@formal@none@1@S@But in a letter sent in August to Asia Development, Schroders said the loan was terminated because the developer had failed to deliver adequate financial data and pay certain fees to the loan-management committee on time, according to officials close to the project.@@@@1@43@@oe@2-2-2013
22162018@unknown@formal@none@1@S@Creditors involved in the project contend, however, that the termination actually had nothing to do with these technical violations.@@@@1@19@@oe@2-2-2013
22162019@unknown@formal@none@1@S@Instead, the creditors say, the loan fell victim to nervousness about China's political turmoil, as well as to concern about the loan's security.@@@@1@23@@oe@2-2-2013
22162020@unknown@formal@none@1@S@The bank syndicate is made up mostly of European banks, but it includes China's state-owned Citic Industrial Bank.@@@@1@18@@oe@2-2-2013
22162021@unknown@formal@none@1@S@The 11 banks in the syndicate sustained no monetary losses because none of the credit facility had been drawn down.@@@@1@20@@oe@2-2-2013
22163001@unknown@formal@none@1@S@K mart Corp. agreed to acquire Pace Membership Warehouse Inc. for $23 a share, or $322 million, in a move to expand its presence in the rapidly growing warehouse-club business.@@@@1@30@@oe@2-2-2013
22163002@unknown@formal@none@1@S@The proposed merger comes as K mart's profit is declining and sales at its core discount stores are rising more slowly than at such competitors as Wal-Mart Stores Inc.@@@@1@29@@oe@2-2-2013
22163003@unknown@formal@none@1@S@K mart, based in Troy, Mich., recently said net income would fall for the third consecutive quarter, after a 16% drop in the first half of its current fiscal year.@@@@1@30@@oe@2-2-2013
22163004@unknown@formal@none@1@S@"The membership warehouse-club concept has great potential," the company's chairman, Joseph E. Antonini, said in a statement.@@@@1@17@@oe@2-2-2013
22163005@unknown@formal@none@1@S@Warehouse clubs typically carry general merchandise and food products, which they sell for close to wholesale prices in no-frills stores.@@@@1@20@@oe@2-2-2013
22163006@unknown@formal@none@1@S@Shoppers, many of whom operate small businesses, pay annual membership fees, which provide an income base for the stores.@@@@1@19@@oe@2-2-2013
22163007@unknown@formal@none@1@S@K mart tested the warehouse-club sector last year with its acquisition of a 51% interest in Makro Inc.@@@@1@18@@oe@2-2-2013
22163008@unknown@formal@none@1@S@But the Makro chain, which operates as a joint venture between K mart and SHV Holdings N.V. of the Netherlands, has only six stores and annual sales that one analyst estimated at about $300 million.@@@@1@35@@oe@2-2-2013
22163009@unknown@formal@none@1@S@Six-year-old Pace, based in Aurora, Colo., operates 41 warehouse-club stores.@@@@1@10@@oe@2-2-2013
22163010@unknown@formal@none@1@S@The company had losses for several years before turning profitable in fiscal 1988.@@@@1@13@@oe@2-2-2013
22163011@unknown@formal@none@1@S@In the year ended Jan. 31, Pace rang up profit of $9.4 million, or 72 cents a share, after a tax-loss carry-forward, on sales of $1.3 billion, and analysts expect its results to continue to improve.@@@@1@36@@oe@2-2-2013
22163012@unknown@formal@none@1@S@"The company turned the corner fairly recently in profitability," said Margo McGlade of PaineWebber Inc., who had been forecasting a 46% jump in Pace's net income from operations this year and another 42% increase next year.@@@@1@36@@oe@2-2-2013
22163013@unknown@formal@none@1@S@"Warehouse productivity is really beginning to take off."@@@@1@8@@oe@2-2-2013
22163014@unknown@formal@none@1@S@But some analysts contend K mart has agreed to pay too much for Pace.@@@@1@14@@oe@2-2-2013
22163015@unknown@formal@none@1@S@"Even if you look at it as a turnaround situation, it's expensive," said Wayne Hood of Prudential-Bache Securities Inc.@@@@1@19@@oe@2-2-2013
22163016@unknown@formal@none@1@S@"In my opinion, you would only pay that kind of price if you were getting a premier player in the industry."@@@@1@21@@oe@2-2-2013
22163017@unknown@formal@none@1@S@Ms. McGlade of PaineWebber raised a more fundamental question about the deal.@@@@1@12@@oe@2-2-2013
22163018@unknown@formal@none@1@S@"If K mart can't get its act together in discounting, why is it spending time worrying about other growing markets?"@@@@1@20@@oe@2-2-2013
22163019@unknown@formal@none@1@S@She said, "I would say K mart's number one job is to address its market-share loss {in discount stores}, which longer-term will lead to improved profit margins.@@@@1@27@@oe@2-2-2013
22163020@unknown@formal@none@1@S@At that point, perhaps diversification would be appropriate."@@@@1@8@@oe@2-2-2013
22163021@unknown@formal@none@1@S@But K mart's Mr. Antonini is intent on pushing the company into new retail businesses.@@@@1@15@@oe@2-2-2013
22163022@unknown@formal@none@1@S@For instance, K mart is opening big food and general merchandise stores, called hypermarkets, and warehouse-type stores specializing in office products and sporting goods.@@@@1@24@@oe@2-2-2013
22163023@unknown@formal@none@1@S@It also operates Waldenbooks, Pay Less Drug Stores and Builders Square home improvement stores.@@@@1@14@@oe@2-2-2013
22163024@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, K mart closed yesterday at $36 a share, up 12.5 cents.@@@@1@20@@oe@2-2-2013
22163025@unknown@formal@none@1@S@Pace rose $2.625 to close at $22.125 a share in national over-the-counter trading.@@@@1@13@@oe@2-2-2013
22163026@unknown@formal@none@1@S@A K mart spokesman said the acquisition would be financed with short-term borrowings.@@@@1@13@@oe@2-2-2013
22163027@unknown@formal@none@1@S@Under terms of the agreement, a K mart subsidiary will soon make a tender offer for Pace shares.@@@@1@18@@oe@2-2-2013
22163028@unknown@formal@none@1@S@Among the conditions of the offer is that Pace shareholders tender a majority of the company's shares outstanding.@@@@1@18@@oe@2-2-2013
22163029@unknown@formal@none@1@S@The companies said Pace would ill continue to operate under its present management.@@@@1@13@@oe@2-2-2013
22164001@unknown@formal@none@1@S@G. William Ryan, president of Post-Newsweek Stations, was named chief executive officer of the unit of this media company, effective Jan. 1.@@@@1@22@@oe@2-2-2013
22164002@unknown@formal@none@1@S@He will succeed Joel Chaseman, who will remain a vice president of the company and continue to represent Post-Newsweek stations in several industry organizations, the company said.@@@@1@27@@oe@2-2-2013
22165001@unknown@formal@none@1@S@literally.@@@@1@1@@oe@2-2-2013
22165002@unknown@formal@none@1@S@Traders nervously watching their Quotron electronic-data machines yesterday morning were stunned to see the Dow Jones Industrial Average plummet 99 points in seconds.@@@@1@23@@oe@2-2-2013
22165003@unknown@formal@none@1@S@A minute later it soared 128 points, then zoomed back down 113 points, 69 below Friday's close.@@@@1@17@@oe@2-2-2013
22165004@unknown@formal@none@1@S@"It was crazy," said Neil Weisman, general partner of Chilmark Capital Corp.@@@@1@12@@oe@2-2-2013
22165005@unknown@formal@none@1@S@"It was like flying without a pilot in the front of the plane."@@@@1@13@@oe@2-2-2013
22165006@unknown@formal@none@1@S@But those who said "This can't be happening" were right.@@@@1@10@@oe@2-2-2013
22165007@unknown@formal@none@1@S@The Quotrons were wrong.@@@@1@4@@oe@2-2-2013
22165008@unknown@formal@none@1@S@Quotron Systems Inc., a Citicorp unit, blamed the 30-minute foul-up on "a timing problem in our software" caused by the enormous early volume -- about 145 million shares in the first hour of New York Stock Exchange trading.@@@@1@38@@oe@2-2-2013
22165009@unknown@formal@none@1@S@The prices of the individual stocks that make up the average were correct, Quotron said, but the average was wrong.@@@@1@20@@oe@2-2-2013
22165010@unknown@formal@none@1@S@Meanwhile, there was an awful lot of confusion.@@@@1@8@@oe@2-2-2013
22165011@unknown@formal@none@1@S@At about 10:40 a.m. on the over-the-counter trading desk at a major brokerage firm, a veteran trader who buys and sells some of the most active stocks looked at a senior official and asked, "What's going on?@@@@1@37@@oe@2-2-2013
22165012@unknown@formal@none@1@S@Is the market up or down?"@@@@1@6@@oe@2-2-2013
22165013@unknown@formal@none@1@S@At the time, Quotron was reporting that the industrial average was down 70 points.@@@@1@14@@oe@2-2-2013
22165014@unknown@formal@none@1@S@In fact, it was up 24.@@@@1@6@@oe@2-2-2013
22165015@unknown@formal@none@1@S@Holly Stark, a vice president who heads the trading desk at Dillon Read Capital Corp., said that once she figured out the Quotron numbers were wrong, she called brokers to tell them.@@@@1@32@@oe@2-2-2013
22165016@unknown@formal@none@1@S@"It's been kind of annoying, to say the least," she said.@@@@1@11@@oe@2-2-2013
22165017@unknown@formal@none@1@S@To confuse matters further, when UAL Corp. stock finally opened on the New York Stock Exchange at 11:08 a.m., the price was listed at $324.75 a share, up about $45 from Friday; in fact, its true price was $224.75, down $55.@@@@1@41@@oe@2-2-2013
22165018@unknown@formal@none@1@S@That was the New York Stock Exchange's blooper.@@@@1@8@@oe@2-2-2013
22165019@unknown@formal@none@1@S@A spokesman cited a "technical error" and declined to elaborate.@@@@1@10@@oe@2-2-2013
22165020@unknown@formal@none@1@S@And there were other blunders.@@@@1@5@@oe@2-2-2013
22165021@unknown@formal@none@1@S@When the market opened at 9:30 a.m. EST, a reporter for the Reuters newswire miscalculated the industrial average's drop as a 4% decline when it really was down 0.7%.@@@@1@29@@oe@2-2-2013
22165022@unknown@formal@none@1@S@"It was a case of human error, which we found almost immediately and corrected," a spokesman for Reuter in New York said.@@@@1@22@@oe@2-2-2013
22165023@unknown@formal@none@1@S@Meanwhile, some currency traders at West German banks in Frankfurt said they sold dollars on the news and had to buy them back later at higher prices.@@@@1@27@@oe@2-2-2013
22165024@unknown@formal@none@1@S@But it was the Quotron problems that had lingering effects.@@@@1@10@@oe@2-2-2013
22165025@unknown@formal@none@1@S@Dillon Read's Ms. Stark said in early afternoon that she was still viewing prices and other data as subject to verification, and she said portfolio managers continued to question the numbers they saw on the screen.@@@@1@36@@oe@2-2-2013
22165026@unknown@formal@none@1@S@It was the second time in less than a week that Quotron has had problems calculating the industrial average.@@@@1@19@@oe@2-2-2013
22165027@unknown@formal@none@1@S@At the start of trading last Wednesday, the average appeared to plunge more than 200 points.@@@@1@16@@oe@2-2-2013
22165028@unknown@formal@none@1@S@Actually, it was down only a few points at the time.@@@@1@11@@oe@2-2-2013
22165029@unknown@formal@none@1@S@Quotron said that snafu, which lasted nine minutes, resulted from a failure to adjust for a 4-for-1 stock split at Philip Morris Cos.@@@@1@23@@oe@2-2-2013
22165030@unknown@formal@none@1@S@A Quotron spokeswoman said recent software changes may have contributed to yesterday's problems.@@@@1@13@@oe@2-2-2013
22165031@unknown@formal@none@1@S@She said Quotron switched to a backup system until the problems were corrected.@@@@1@13@@oe@2-2-2013
22165032@unknown@formal@none@1@S@"Today of all days," she lamented.@@@@1@6@@oe@2-2-2013
22165033@unknown@formal@none@1@S@"The eyes of the world were watching us.@@@@1@8@@oe@2-2-2013
22166001@unknown@formal@none@1@S@Steven F. Kaplan was named a senior vice president of this graphics equipment company.@@@@1@14@@oe@2-2-2013
22166002@unknown@formal@none@1@S@He retains his current positions as chief strategic officer of AM International and president of AM Ventures.@@@@1@17@@oe@2-2-2013
22167001@unknown@formal@none@1@S@Houston attorney Dale Friend, representing a plaintiff in a damage suit, says he has negotiated a settlement that will strike a blow for his client.@@@@1@25@@oe@2-2-2013
22167002@unknown@formal@none@1@S@Literally.@@@@1@1@@oe@2-2-2013
22167003@unknown@formal@none@1@S@It turns out Mr. Friend's client, Machelle Parks of Cincinnati, didn't like the way defense attorney Tom Alexander acted during the legal proceedings.@@@@1@23@@oe@2-2-2013
22167004@unknown@formal@none@1@S@So she has agreed to forgo monetary damages against Mr. Alexander's client in return for the right to punch the attorney.@@@@1@21@@oe@2-2-2013
22167005@unknown@formal@none@1@S@Ms. Parks's mother also gets to cuff Mr. Alexander.@@@@1@9@@oe@2-2-2013
22167006@unknown@formal@none@1@S@So does Mr. Friend and his law partner, Nick Nichols.@@@@1@10@@oe@2-2-2013
22167007@unknown@formal@none@1@S@The bizarre arrangement grows out of Mr. Alexander's representation of Derr Construction Co., one of several defendants in a wrongful death lawsuit brought by Ms. Parks, the widow of a construction worker killed in January 1987 while working on a new Houston convention center.@@@@1@44@@oe@2-2-2013
22167008@unknown@formal@none@1@S@Last month, Mr. Friend says, Mr. Alexander's associate agreed that Derr would pay $50,000 as part of an overall settlement.@@@@1@20@@oe@2-2-2013
22167009@unknown@formal@none@1@S@But Mr. Alexander scuttled the deal at the last minute, angering the plaintiff's side.@@@@1@14@@oe@2-2-2013
22167010@unknown@formal@none@1@S@"I never agreed to it," Mr. Alexander says, adding that "it's not necessary to pay these nuisance settlements."@@@@1@18@@oe@2-2-2013
22167011@unknown@formal@none@1@S@When Ms. Parks and her mother heard about what had happened, Mr. Friend says, they volunteered that they would like to give Mr. Alexander a good walloping.@@@@1@27@@oe@2-2-2013
22167012@unknown@formal@none@1@S@Mr. Friend says he passed that along to his adversary, and soon they were talking about the ground rules under which Derr could keep its money and the plaintiffs could take a shot at Mr. Alexander.@@@@1@36@@oe@2-2-2013
22167013@unknown@formal@none@1@S@Although time and place have yet to be determined, some details are in place.@@@@1@14@@oe@2-2-2013
22167014@unknown@formal@none@1@S@Mr. Friend says he agreed to strike Mr. Alexander above the belt.@@@@1@12@@oe@2-2-2013
22167015@unknown@formal@none@1@S@Ms. Parks and her mother indicated they want to "catch him unawares from behind," he says.@@@@1@16@@oe@2-2-2013
22167016@unknown@formal@none@1@S@Mr. Alexander, for his part, insisted that the punchers can't assign their pummeling rights to anyone else, can't use a blunt instrument and can't take a running start.@@@@1@28@@oe@2-2-2013
22167017@unknown@formal@none@1@S@Mr. Alexander says he regards the agreement, which hasn't been submitted to a judge, as something of a joke.@@@@1@19@@oe@2-2-2013
22167018@unknown@formal@none@1@S@However, he acknowledges they "have the option of taking a swat at me if they really want to."@@@@1@18@@oe@2-2-2013
22167019@unknown@formal@none@1@S@Mr. Friend says his side is "dead serious."@@@@1@8@@oe@2-2-2013
22167020@unknown@formal@none@1@S@Although they don't contemplate delivering any disabling blows, he says that Mr. Alexander will be asked to sign a release from liability, just in case.@@@@1@25@@oe@2-2-2013
22168001@unknown@formal@none@1@S@After two years of drought, it rained money in the stock-index futures markets yesterday.@@@@1@14@@oe@2-2-2013
22168002@unknown@formal@none@1@S@As financial markets rebounded, trading volume in the Chicago Mercantile Exchange's huge Standard & Poor's 500 stock-index futures pit soared, reaching near-record levels for the first time since October 1987.@@@@1@30@@oe@2-2-2013
22168003@unknown@formal@none@1@S@The sudden influx of liquidity enabled several traders to reap six-figure windfalls in a matter of minutes as prices soared, traders said.@@@@1@22@@oe@2-2-2013
22168004@unknown@formal@none@1@S@"Guys were minting money in there today," said John Legittino, a futures broker for Elders Futures Inc. in Chicago.@@@@1@19@@oe@2-2-2013
22168005@unknown@formal@none@1@S@The S&P 500 futures contract, which moves in fractions of an index point under normal conditions, jumped two to three points in seconds early yesterday after an initial downturn, then moved strongly higher the rest of the day.@@@@1@38@@oe@2-2-2013
22168006@unknown@formal@none@1@S@Each index point represents a $500 profit for each S&P 500 contract held.@@@@1@13@@oe@2-2-2013
22168007@unknown@formal@none@1@S@For the first time since the 1987 crash, traders said that they were able to trade several hundred S&P 500 contracts at a time in a highly liquid market.@@@@1@29@@oe@2-2-2013
22168008@unknown@formal@none@1@S@Many institutions and individual investors have shied away from stock-index futures, blaming them for speeding the stock market crash on Black Monday two years ago.@@@@1@25@@oe@2-2-2013
22168009@unknown@formal@none@1@S@Since the crash, many futures traders haven't assumed large positions for fear that the S&P 500 market, with much of its customer order flow missing, would dry up if prices turned against them.@@@@1@33@@oe@2-2-2013
22168010@unknown@formal@none@1@S@More than 400 traders jammed the S&P 500 futures pit to await the opening bell.@@@@1@15@@oe@2-2-2013
22168011@unknown@formal@none@1@S@Traders were shouting bids and offers a full five minutes before the start of trading at 8:30 am@@@@1@18@@oe@2-2-2013
22168012@unknown@formal@none@1@S@The contract fell five points at the open to 323.85, the maximum opening move allowed under safeguards adopted by the Merc to stem a market slide.@@@@1@26@@oe@2-2-2013
22168013@unknown@formal@none@1@S@But several traders quickly stepped up and bid for contracts, driving prices sharply higher.@@@@1@14@@oe@2-2-2013
22168014@unknown@formal@none@1@S@The market hovered near Friday's closing price of 328.85 for about a half hour, moving several index points higher or lower in seconds, then broke higher and didn't look back.@@@@1@30@@oe@2-2-2013
22168015@unknown@formal@none@1@S@The S&P 500 contract that expires in December closed up a record 15.65 points on volume of nearly 80,000 contracts.@@@@1@20@@oe@2-2-2013
22168016@unknown@formal@none@1@S@"Traders five feet from each other were making bids and offers that were a full point apart," said one S&P 500 broker.@@@@1@22@@oe@2-2-2013
22168017@unknown@formal@none@1@S@"You could buy at the bid and sell at the offer and make a fortune," he marveled.@@@@1@17@@oe@2-2-2013
22168018@unknown@formal@none@1@S@Several of Wall Street's largest securities firms, including Salomon Brothers Inc. and PaineWebber Inc., were also large buyers, traders said.@@@@1@20@@oe@2-2-2013
22168019@unknown@formal@none@1@S@Salomon Brothers was among the largest sellers of stock-index futures last week, traders said.@@@@1@14@@oe@2-2-2013
22168020@unknown@formal@none@1@S@Brokerage firms as a rule don't comment on their market activity.@@@@1@11@@oe@2-2-2013
22168021@unknown@formal@none@1@S@Unlike the week following Black Monday two years ago, individual traders in the S&P 500 pit were also being uncharacteristically circumspect about their one-day profits.@@@@1@25@@oe@2-2-2013
22168022@unknown@formal@none@1@S@"With the FBI around here, bragging rights are a thing of the past," said one trader, referring to the federal investigation of futures trading that so far has resulted in 46 indictments lodged against individuals on the Merc and the Chicago Board of Trade.@@@@1@44@@oe@2-2-2013
22169001@unknown@formal@none@1@S@The market for $200 billion of high-yield junk bonds regained some of its footing as the Dow Jones Industrial Average rebounded from Friday's plunge.@@@@1@24@@oe@2-2-2013
22169002@unknown@formal@none@1@S@But the junk recovery, led by the bellwether RJR Holdings bonds, was precarious.@@@@1@13@@oe@2-2-2013
22169003@unknown@formal@none@1@S@No trading existed for the vast majority of junk bonds, securities industry officials said.@@@@1@14@@oe@2-2-2013
22169004@unknown@formal@none@1@S@On Friday, trading in practically every issue ground to a halt as potential buyers fled and brokerage firms were unwilling to provide bid and offer prices for most issues.@@@@1@29@@oe@2-2-2013
22169005@unknown@formal@none@1@S@"Nothing traded on Friday, and people weren't really sure where the market should have opened" yesterday, said Raymond Minella, co-head of merchant banking at Merrill Lynch & Co.@@@@1@28@@oe@2-2-2013
22169006@unknown@formal@none@1@S@"But we had a fairly active day yesterday."@@@@1@8@@oe@2-2-2013
22169007@unknown@formal@none@1@S@At Drexel Burnham Lambert Inc., the leading underwriter of junk bonds, "I was prepared to be in a very bad mood tonight," said David Feinman, a junk bond trader.@@@@1@29@@oe@2-2-2013
22169008@unknown@formal@none@1@S@"Now, I feel maybe there's a little bit of euphoria."@@@@1@10@@oe@2-2-2013
22169009@unknown@formal@none@1@S@But before the stock market rebounded from a sharp early sell-off yesterday, he said, "You couldn't buy {junk bonds} and you couldn't give them away."@@@@1@25@@oe@2-2-2013
22169010@unknown@formal@none@1@S@Yesterday's rally was led by RJR Holdings 13 3/4% bonds, which initially tumbled three points, or $30 for each $1,000 face amount, to 96 1/4 before rebounding to 99 3/4.@@@@1@30@@oe@2-2-2013
22169011@unknown@formal@none@1@S@Bonds issued by Kroger, Duracell, Safeway and American Standard also showed big gains, recovering almost all their losses from Friday and early yesterday.@@@@1@23@@oe@2-2-2013
22169012@unknown@formal@none@1@S@But traders said the junk bond market increasingly is separating into a top-tier group, in which trades can be executed easily, and a larger group of lower-quality bonds in which liquidity -- or the ability to trade without too much difficulty -- has steadily deteriorated this year.@@@@1@47@@oe@2-2-2013
22169013@unknown@formal@none@1@S@"Liquidity hasn't returned to the vast middle ground of the market," said Mr. Minella of Merrill.@@@@1@16@@oe@2-2-2013
22169014@unknown@formal@none@1@S@"The deadbeats are still deadbeats," said Mr. Feinman of Drexel.@@@@1@10@@oe@2-2-2013
22169015@unknown@formal@none@1@S@Analysts are concerned that much of the high-yield market will remain treacherous for investors.@@@@1@14@@oe@2-2-2013
22169016@unknown@formal@none@1@S@Paul Asquith, associate professor at the Massachusetts Institute of Technology's Sloan School of Management, citing a pattern of junk-bond default rates that are low in the early years after issuance and rise later, says, "We're now in a period where we're starting to see defaults from the big issue years of 1984 to 1986."@@@@1@54@@oe@2-2-2013
22169017@unknown@formal@none@1@S@Mark Bachmann, a senior vice president at Standard & Poor's Corp., confirms that there is "increasing concern about the future liquidity of the junk bond market."@@@@1@26@@oe@2-2-2013
22169018@unknown@formal@none@1@S@"Junk bonds are a highly stratified market," said Lewis Glucksman, vice chairman of Smith Barney, Harris Upham & Co.@@@@1@19@@oe@2-2-2013
22169019@unknown@formal@none@1@S@"There's a whole bunch of stuff that's money good and a whole bunch of stuff that's not so good."@@@@1@19@@oe@2-2-2013
22169020@unknown@formal@none@1@S@Analysts at Standard & Poor's say junk bond offerings by "tightly stretched" issuers seem to be growing.@@@@1@17@@oe@2-2-2013
22169021@unknown@formal@none@1@S@Almost $8 billion of junk bonds that are considered untradeable include issues from SCI TV, Gillette Holdings (not related to Gillette Co.), Interco, Seaman Furniture, Allied Stores, Federated Department Stores, National Gypsum, M.D.C. Holdings, Micropolis, Leaseway Transportation and Price Communications.@@@@1@40@@oe@2-2-2013
22169022@unknown@formal@none@1@S@"You could still have some very bad times ahead," said Mr. Bachmann.@@@@1@12@@oe@2-2-2013
22169023@unknown@formal@none@1@S@"It's possible to have a 10% default rate in one year, because we're already seeing big problems in the midst of a pretty strong economy.@@@@1@25@@oe@2-2-2013
22169024@unknown@formal@none@1@S@I'm certainly not comfortable saying we've seen the bottom."@@@@1@9@@oe@2-2-2013
22169025@unknown@formal@none@1@S@But yesterday's rally among "good" junk was a badly needed tonic for the market.@@@@1@14@@oe@2-2-2013
22169026@unknown@formal@none@1@S@Many issues "bounced off the floor," Mr. Minella said, and benchmark junk issues "recovered all of their losses" from Friday and early yesterday.@@@@1@23@@oe@2-2-2013
22169027@unknown@formal@none@1@S@In contrast, he says, "The stock market gained back only about half what it lost Friday, and the {government} bond market lost about half what it gained Friday."@@@@1@28@@oe@2-2-2013
22169028@unknown@formal@none@1@S@Traders said yesterday's rally was fueled by insurance companies looking for bargains after a drastic slide in prices the past month.@@@@1@21@@oe@2-2-2013
22169029@unknown@formal@none@1@S@In addition, mutual funds didn't appear to be major sellers of high-yield securities as was expected.@@@@1@16@@oe@2-2-2013
22169030@unknown@formal@none@1@S@"Sometimes a shakeout is healthy," said Drexel's Mr. Feinman.@@@@1@9@@oe@2-2-2013
22169031@unknown@formal@none@1@S@"People will learn to be more circumspect.@@@@1@7@@oe@2-2-2013
22169032@unknown@formal@none@1@S@If they do good credit analysis, they will avoid the hand grenades.@@@@1@12@@oe@2-2-2013
22169033@unknown@formal@none@1@S@I think the market is in good shape.@@@@1@8@@oe@2-2-2013
22170001@unknown@formal@none@1@S@Should you really own stocks?@@@@1@5@@oe@2-2-2013
22170002@unknown@formal@none@1@S@That's a question a lot of people are asking, following the stock market's stunning display of volatility.@@@@1@17@@oe@2-2-2013
22170003@unknown@formal@none@1@S@Whipsawed financially and emotionally by Friday's heartstopping 190-point drop in the Dow Jones Industrial Average and yesterday's 88-point rebound, they're wondering if an individual has any business being in the market.@@@@1@31@@oe@2-2-2013
22170004@unknown@formal@none@1@S@The answer, say academic researchers, money managers and investment specialists, is yes -- as long as you approach the stock market as an investor.@@@@1@24@@oe@2-2-2013
22170005@unknown@formal@none@1@S@But, they say, people shouldn't try to be traders, who buy and sell in an effort to ride the latest economic trend or catch the next hot stock.@@@@1@28@@oe@2-2-2013
22170006@unknown@formal@none@1@S@The case for owning stocks over the long-term is compelling.@@@@1@10@@oe@2-2-2013
22170007@unknown@formal@none@1@S@"If you look at 75 years worth of investment history -- including the Great Depression and every bear market since -- stocks have outperformed almost everything an individual could have owned by a long shot," says Barry Berlin, vice president at First Wachovia Capital Management.@@@@1@45@@oe@2-2-2013
22170008@unknown@formal@none@1@S@A dollar invested in the stock market in 1926 would have grown to $473.29 by the end of last June, according to Laurence Siegel, managing director at Ibbotson Associates Inc.@@@@1@30@@oe@2-2-2013
22170009@unknown@formal@none@1@S@But a dollar invested in long-term bonds in 1926 would have grown to only $16.56, and a dollar put in Treasury bills would equal a meager $9.29.@@@@1@27@@oe@2-2-2013
22170010@unknown@formal@none@1@S@The longer the time period, the less risk there is of losing money in the stock market.@@@@1@17@@oe@2-2-2013
22170011@unknown@formal@none@1@S@Over time, the odds increasingly favor the investor with a diversified portfolio.@@@@1@12@@oe@2-2-2013
22170012@unknown@formal@none@1@S@For instance, Ken Gregory, a San Francisco money manager, calculates that if an investor holds a basket of stocks that tracks the Standard & Poor's 500-stock index, the chance of losing money is 3% to 4% over a 10-year period, compared with 15% over three years and 30% over one year.@@@@1@51@@oe@2-2-2013
22170013@unknown@formal@none@1@S@"If you don't need the money for 10 years, there's a clear-cut case for sticking to a steady core of stocks," Mr. Gregory says.@@@@1@24@@oe@2-2-2013
22170014@unknown@formal@none@1@S@Stock-market investments also help balance the other assets an individual owns, says John Blankenship Jr., president of the Institute of Certified Financial Planners.@@@@1@23@@oe@2-2-2013
22170015@unknown@formal@none@1@S@Stocks have a place in an investors' portfolio along with real estate, bonds, international securities and cash, he says.@@@@1@19@@oe@2-2-2013
22170016@unknown@formal@none@1@S@There are some important caveats: Before investing in stocks, individuals should have at least three to six months of living expenses set aside in the bank, most investment advisers say.@@@@1@30@@oe@2-2-2013
22170017@unknown@formal@none@1@S@Individuals also should focus on building equity in a home, which provides some protection against inflation, as well as a nest-egg that can be cashed in late in life to help cover the cost of retirement living.@@@@1@37@@oe@2-2-2013
22170018@unknown@formal@none@1@S@People also shouldn't invest money in stocks that they'll need in the near future -- for example, for college tuition payments or retirement expenses.@@@@1@24@@oe@2-2-2013
22170019@unknown@formal@none@1@S@"You may have to sell your stocks at a time when the market takes a plunge," says Mr. Blankenship, a Del Mar, Calif. financial planner.@@@@1@25@@oe@2-2-2013
22170020@unknown@formal@none@1@S@But once the basics are covered, "then I would start to invest, even if it's as little as $1,000," says Michael Lipper, president of Lipper Analytical Services Inc.@@@@1@28@@oe@2-2-2013
22170021@unknown@formal@none@1@S@He says individuals should consider not just stocks, but other long-term investments, such as high-quality bonds.@@@@1@16@@oe@2-2-2013
22170022@unknown@formal@none@1@S@Despite the strong case for stocks, however, most pros warn that individuals shouldn't try to profit from short-term developments.@@@@1@19@@oe@2-2-2013
22170023@unknown@formal@none@1@S@"It's very difficult to do," says Donald Holt, a market strategist for Wedbush Morgan Securities, a Los Angeles brokerage firm.@@@@1@20@@oe@2-2-2013
22170024@unknown@formal@none@1@S@"Our markets move so fast and they are so volatile, there's no way the average investor can compete with the pros."@@@@1@21@@oe@2-2-2013
22170025@unknown@formal@none@1@S@Individual investors face high transaction costs of moving in and out of the market.@@@@1@14@@oe@2-2-2013
22170026@unknown@formal@none@1@S@The cost of executing stock orders varies from brokerage to brokerage and with the size of the order, but 2% of the order's value is an average, says Stephen Boesel, manager of T. Rowe Price's Growth and Income mutual fund.@@@@1@40@@oe@2-2-2013
22170027@unknown@formal@none@1@S@And assuming their first investment is successful, investors will have to pay taxes on their gains.@@@@1@16@@oe@2-2-2013
22170028@unknown@formal@none@1@S@That can reduce returns by a third or more, once local taxes are included, Mr. Lipper says.@@@@1@17@@oe@2-2-2013
22170029@unknown@formal@none@1@S@After that, individual traders face the risk that the new investment they choose won't perform well -- so their trading costs could be sustained for nothing.@@@@1@26@@oe@2-2-2013
22170030@unknown@formal@none@1@S@"It's very tough for most individuals to out-trade the mutual funds or the market," says Mr. Lipper.@@@@1@17@@oe@2-2-2013
22170031@unknown@formal@none@1@S@"You should really think twice if you think you can out-smart the system."@@@@1@13@@oe@2-2-2013
22170032@unknown@formal@none@1@S@Then, too, many individual investors lack the sturdy emotional makeup professionals say is needed to plunge in and out of the market.@@@@1@22@@oe@2-2-2013
22170033@unknown@formal@none@1@S@So what's the best way to buy stocks?@@@@1@8@@oe@2-2-2013
22170034@unknown@formal@none@1@S@"Unless an individual has a minimum of between $50,000 and $100,000 to invest in stocks, he's still better off in mutual funds than in individual stocks, in terms of getting enough attention from a competent broker," says Mr. Lipper.@@@@1@39@@oe@2-2-2013
22170035@unknown@formal@none@1@S@Still, he adds, "I could see owning both, given that individuals often have an advantage over big investors in spotting special situations based on their own insights," he adds.@@@@1@29@@oe@2-2-2013
22170036@unknown@formal@none@1@S@George Douglas, first vice president at Drexel Burnham Lambert Inc., says that individuals have a particular edge now in "small to medium-size niche companies with exciting earnings prospects" -- a traditional stomping ground for small investors.@@@@1@36@@oe@2-2-2013
22170037@unknown@formal@none@1@S@This growth sector, which usually carries a price/earnings multiple about twice that of the Standard & Poor's 500, happens to include some of the market's most attractive bargains right now.@@@@1@30@@oe@2-2-2013
22170038@unknown@formal@none@1@S@"It's now selling at a multiple about even with the market," says Mr. Douglas.@@@@1@14@@oe@2-2-2013
22170039@unknown@formal@none@1@S@Moreover, Mr. Douglas sees a revival of institutional interest in smaller growth stocks that could boost the performance of these stocks in the medium term.@@@@1@25@@oe@2-2-2013
22170040@unknown@formal@none@1@S@Many big Wall Street brokerage firms who eliminated their research effort in stocks of emerging growth companies a few years ago are now resuming coverage of this area, he notes.@@@@1@30@@oe@2-2-2013
22170041@unknown@formal@none@1@S@"We're seeing a real turnaround in interest in small growth stocks," he says.@@@@1@13@@oe@2-2-2013
22170042@unknown@formal@none@1@S@The pros strenuously advise individuals to stay away from the latest investment fad.@@@@1@13@@oe@2-2-2013
22170043@unknown@formal@none@1@S@They say that's especially important this late in the growth phase of the economic cycle, when there's no robust bull market to bail investors out of their mistakes.@@@@1@28@@oe@2-2-2013
22170044@unknown@formal@none@1@S@Friday's correction presents "a pretty good buying opportunity, but let's not speculate at this point in the business cycle," says Carmine Grigoli, chief equity portfolio strategist at First Boston Corp.@@@@1@30@@oe@2-2-2013
22170045@unknown@formal@none@1@S@"Buy stocks on weakness for their long-term fundamentals," he says.@@@@1@10@@oe@2-2-2013
22170046@unknown@formal@none@1@S@In the long run, investment advisers say, most investors will be better off using the dollar-cost averaging method of buying stocks.@@@@1@21@@oe@2-2-2013
22170047@unknown@formal@none@1@S@In this method, a person invests a regular amount every month or quarter into the stock market whether the market is up or down.@@@@1@24@@oe@2-2-2013
22170048@unknown@formal@none@1@S@That cuts the risk, Mr. Gregory, the San Francisco money manager, points out.@@@@1@13@@oe@2-2-2013
22170049@unknown@formal@none@1@S@"When the market is low, you are buying more shares, and when it's high, you're buying fewer shares," he says.@@@@1@20@@oe@2-2-2013
22170050@unknown@formal@none@1@S@Otherwise, if you put all your money in at one time, by sheer bad luck, you might pick a terrible time, and have to wait three years to get even, Mr. Gregory says.@@@@1@33@@oe@2-2-2013
22170051@unknown@formal@none@1@S@A disciplined program will work the best, Mr. Boesel says.@@@@1@10@@oe@2-2-2013
22170052@unknown@formal@none@1@S@"One of the hardest things to do is to buy stocks when the market is down," he says.@@@@1@18@@oe@2-2-2013
22170053@unknown@formal@none@1@S@"But that's just the time when you should be buying them."@@@@1@11@@oe@2-2-2013
22170054@unknown@formal@none@1@S@Compound annual returns, including price changes and income from interest and dividends@@@@1@12@@oe@2-2-2013
22170055@unknown@formal@none@1@S@*Actual performance, not annualized@@@@1@4@@oe@2-2-2013
22170056@unknown@formal@none@1@S@Source: Ibbotson Associates Inc.@@@@1@4@@oe@2-2-2013
22171001@unknown@formal@none@1@S@The following issues were recently filed with the Securities and Exchange Commission: Gehl Co., initial public offering of two million shares of common stock, of which 1,450,635 shares are being offered by the company and 549,365 shares by holders, via Blunt, Ellis & Loewi Inc. and Robert W. Baird & Co.@@@@1@51@@oe@2-2-2013
22171002@unknown@formal@none@1@S@Giant Industries Inc., initial public offering of 3,111,000 common shares, of which 2,425,000 will be sold by the company, and the rest by holders, via Shearson Lehman Hutton Inc. and Hanifen, Imhoff Inc.@@@@1@33@@oe@2-2-2013
22171003@unknown@formal@none@1@S@Inefficient-Market Fund Inc., initial offering of five million common shares, via Smith Barney, Harris Upham & Co.@@@@1@17@@oe@2-2-2013
22171004@unknown@formal@none@1@S@Jason Overseas Ltd., initial offering of four million common shares, of which 3.2 million will be sold in the U.S., and the balance outside the U.S., via Smith Barney, Harris Upham & Co. and Mabon, Nugent & Co.@@@@1@38@@oe@2-2-2013
22172001@unknown@formal@none@1@S@Donald Trump, who faced rising doubt about his bid for American Airlines parent AMR Corp. even before a United Airlines buy-out came apart Friday, withdrew his $7.54 billion offer.@@@@1@29@@oe@2-2-2013
22172002@unknown@formal@none@1@S@Separately, bankers representing the group trying to buy United's parent UAL Corp. met with other banks about reviving that purchase at a lower price, possibly around $250 a share, or $5.65 billion.@@@@1@32@@oe@2-2-2013
22172003@unknown@formal@none@1@S@But a lower bid could face rejection by the UAL board.@@@@1@11@@oe@2-2-2013
22172004@unknown@formal@none@1@S@Mr. Trump, who vowed Wednesday to "go forward" with the bid, said he was dropping it "in light of the recent change in market conditions."@@@@1@25@@oe@2-2-2013
22172005@unknown@formal@none@1@S@He said he might now sell his AMR stake, buy more shares, or make another offer at a lower price.@@@@1@20@@oe@2-2-2013
22172006@unknown@formal@none@1@S@The Manhattan real-estate developer acted after the UAL buyers failed to obtain financing for their earlier $300-a-share bid, which sparked a selling panic among that snowballed into a 190-point drop Friday in the Dow Jones Industrial Average.@@@@1@37@@oe@2-2-2013
22172007@unknown@formal@none@1@S@News about UAL and AMR, whose shares never reopened after trading was halted Friday for the UAL announcement, sent both stocks nosediving in composite trading on the New York Stock Exchange.@@@@1@31@@oe@2-2-2013
22172008@unknown@formal@none@1@S@UAL tumbled $56.875 to $222.875 on volume of 2.3 million shares, and AMR declined by $22.125 to $76.50 as 4.7 million shares changed hands.@@@@1@24@@oe@2-2-2013
22172009@unknown@formal@none@1@S@Together, the two stocks wreaked havoc among takeover stock traders, and caused a 7.3% drop in the Dow Jones Transportation Average, second in size only to the stock-market crash of Oct. 19, 1987.@@@@1@33@@oe@2-2-2013
22172010@unknown@formal@none@1@S@Some said Friday's market debacle had given Mr. Trump an excuse to bail out of an offer that showed signs of stalling even before problems emerged with the UAL deal.@@@@1@30@@oe@2-2-2013
22172011@unknown@formal@none@1@S@After reaching an intraday high of $107.50 the day Mr. Trump disclosed his bid Oct. 5, AMR's stock had retreated as low as $97.75 last week.@@@@1@26@@oe@2-2-2013
22172012@unknown@formal@none@1@S@Some takeover stock traders had been betting against Mr. Trump because he has a record of disclosing stakes in companies that are potential takeover targets, then selling at a profit without making a bid.@@@@1@34@@oe@2-2-2013
22172013@unknown@formal@none@1@S@"He still hasn't proven his mettle as a big-league take-out artist," said airline analyst Kevin Murphy of Morgan Stanley & Co.@@@@1@21@@oe@2-2-2013
22172014@unknown@formal@none@1@S@"He's done this thing where he'll buy a little bit of a company and then trade out of it.@@@@1@19@@oe@2-2-2013
22172015@unknown@formal@none@1@S@He's written this book, `The Art of the Deal.'@@@@1@9@@oe@2-2-2013
22172016@unknown@formal@none@1@S@Why doesn't he just follow through on one of these things?"@@@@1@11@@oe@2-2-2013
22172017@unknown@formal@none@1@S@Mr. Trump withdrew his bid before the AMR board, which is due to meet tomorrow, ever formally considered it.@@@@1@19@@oe@2-2-2013
22172018@unknown@formal@none@1@S@AMR had weighed a wide range of possible responses, from flat rejection to recapitalizations and leveraged buy-outs that might have included either employees, a friendlier buyer such as Texas billionaire Robert Bass, or both.@@@@1@34@@oe@2-2-2013
22172019@unknown@formal@none@1@S@AMR had also sought to foil Mr. Trump in Congress by lobbying for legislation that would have bolstered the authority of the Transportation Department to reject airline buy-outs.@@@@1@28@@oe@2-2-2013
22172020@unknown@formal@none@1@S@Yesterday, Mr. Trump tried to put the blame for the collapse of the UAL deal on Congress, saying it was rushing through a bill to protect AMR executives.@@@@1@28@@oe@2-2-2013
22172021@unknown@formal@none@1@S@"I believe that the perception that legislation in this area may be hastily approved contributed to the collapse of the UAL transaction, and the resulting disruption in the financial markets experienced this past Friday," Mr. Trump wrote members of Congress.@@@@1@40@@oe@2-2-2013
22172022@unknown@formal@none@1@S@AMR declined to comment, and Mr. Trump didn't respond to requests for interviews.@@@@1@13@@oe@2-2-2013
22172023@unknown@formal@none@1@S@Mr. Trump never said how much AMR stock he had bought, only that his holdings were "substantial."@@@@1@17@@oe@2-2-2013
22172024@unknown@formal@none@1@S@However, he only received federal clearance to buy more than $15 million of the stock on Sept. 20, when the price rose $2 a share to $78.50.@@@@1@27@@oe@2-2-2013
22172025@unknown@formal@none@1@S@Between then and his bid on Oct. 5, the price fluctuated between $75.625 and $87.375.@@@@1@15@@oe@2-2-2013
22172026@unknown@formal@none@1@S@In an attempt to persuade investors that his bid wasn't just "a stock play," Mr. Trump promised last week to notify the market before selling any shares.@@@@1@27@@oe@2-2-2013
22172027@unknown@formal@none@1@S@AMR was trading at around $84 yesterday before his withdrawal announcement, then immediately fell to about $76.@@@@1@17@@oe@2-2-2013
22172028@unknown@formal@none@1@S@Assuming that he paid a rough average price of $80 a share, and assuming he didn't sell before his announcement reached the market, Mr. Trump could be sitting with a modest loss with the stock at $76.50.@@@@1@37@@oe@2-2-2013
22172029@unknown@formal@none@1@S@Some analysts said AMR Chairman Robert Crandall might seize the opportunity presented by the stock price drop to protect the nation's largest airline with a defensive transaction, such as the sale of stock to a friendly holder or company employees.@@@@1@40@@oe@2-2-2013
22172030@unknown@formal@none@1@S@However, other knowledgeable observers said they believed Mr. Crandall and the AMR board might well decide to tough it out without taking any extra steps.@@@@1@25@@oe@2-2-2013
22172031@unknown@formal@none@1@S@Some analysts said they believed Mr. Trump, whose towering ego had been viewed by some as a reason to believe he wouldn't back out, might come back with a lower bid.@@@@1@31@@oe@2-2-2013
22172032@unknown@formal@none@1@S@Ray Neidl of Dillon Read & Co. said Mr. Trump "is stepping back and waiting for the dust to settle.@@@@1@20@@oe@2-2-2013
22172033@unknown@formal@none@1@S@I'm sure he still wants AMR."@@@@1@6@@oe@2-2-2013
22172034@unknown@formal@none@1@S@But others remained skeptical.@@@@1@4@@oe@2-2-2013
22172035@unknown@formal@none@1@S@"I was never sure Donald Trump really wanted to take AMR," said John Mattis, a bond analyst with Shearson Lehman Hutton Inc.@@@@1@22@@oe@2-2-2013
22172036@unknown@formal@none@1@S@"What happened with United was a gracious way for him to bow out."@@@@1@13@@oe@2-2-2013
22172037@unknown@formal@none@1@S@Mr. Trump never obtained financing for his bid.@@@@1@8@@oe@2-2-2013
22172038@unknown@formal@none@1@S@That skepticism would leave him with an even greater credibility problem should he return that would handicap him in any effort to oust the board in a proxy fight.@@@@1@29@@oe@2-2-2013
22172039@unknown@formal@none@1@S@Meanwhile, Citicorp and Chase Manhattan Corp., the two lead lenders on the UAL buy-out, met with other banks yesterday to determine if they would be willing to finance the buy-out at a lower price.@@@@1@34@@oe@2-2-2013
22172040@unknown@formal@none@1@S@Officials familiar with the talks said Citicorp had discussed lowering the offer to $250 a share, but said that price was a talking point and that no decision has been made.@@@@1@31@@oe@2-2-2013
22172041@unknown@formal@none@1@S@At $250 a share, the group would have to borrow about $6.1 billion from banks.@@@@1@15@@oe@2-2-2013
22172042@unknown@formal@none@1@S@The first UAL deal unraveled after Citibank and Chase couldn't raise $7.2 billion.@@@@1@13@@oe@2-2-2013
22172043@unknown@formal@none@1@S@Citibank and Chase had agreed to commit $3 billion, and said they were "highly confident" of raising another $4.2 billion.@@@@1@20@@oe@2-2-2013
22172044@unknown@formal@none@1@S@Together, Citicorp and Chase received $8 million in fees to raise the rest of the financing.@@@@1@16@@oe@2-2-2013
22172045@unknown@formal@none@1@S@But other banks balked at the low interest rate and banking fees the UAL group was willing to pay them.@@@@1@20@@oe@2-2-2013
22172046@unknown@formal@none@1@S@Officials familiar with the bank talks said the UAL buy-out group -- UAL pilots, management, and British Airways PLC -- is now willing to pay higher bank fees and interest, but isn't likely to boost its $965 million equity contribution.@@@@1@40@@oe@2-2-2013
22172047@unknown@formal@none@1@S@Nor is the group likely to come forward with a revised offer within the next 48 hours despite the hopes of many traders.@@@@1@23@@oe@2-2-2013
22172048@unknown@formal@none@1@S@The group's advisers want to make certain they have firm bank commitments the second time around.@@@@1@16@@oe@2-2-2013
22172049@unknown@formal@none@1@S@Even if the buy-out group is able to obtain financing, the transaction still faces obstacles.@@@@1@15@@oe@2-2-2013
22172050@unknown@formal@none@1@S@UAL's board could reject the new price as too low, especially since there aren't any competing bids.@@@@1@17@@oe@2-2-2013
22172051@unknown@formal@none@1@S@Los Angeles investor Marvin Davis, whose $275-a-share offer was rejected by UAL's board, hasn't shown signs of pursuing a $300-a-share back-up bid he made last month.@@@@1@26@@oe@2-2-2013
22172052@unknown@formal@none@1@S@In addition, the coalition of labor and management, longtime enemies who joined forces only under the threat of Mr. Davis's bid, could break apart now.@@@@1@25@@oe@2-2-2013
22172053@unknown@formal@none@1@S@The group's resilience gets its first test today when 30 top pilot union leaders convene outside Chicago in a previously scheduled meeting.@@@@1@22@@oe@2-2-2013
22172054@unknown@formal@none@1@S@Union Chairman F.C. (Rick) Dubinsky faces the tough task of explaining why banks refused to finance a buy-out the members approved overwhelmingly last week.@@@@1@24@@oe@2-2-2013
22172055@unknown@formal@none@1@S@The pilot union is vowing to pursue an acquisition whatever the board decides.@@@@1@13@@oe@2-2-2013
22172056@unknown@formal@none@1@S@But if the board rejects a reduced bid and decides to explore other alternatives, it could transform what has been a harmonious process into an adversarial one.@@@@1@27@@oe@2-2-2013
22172057@unknown@formal@none@1@S@The pilots could play hardball by noting they are crucial to any sale or restructuring because they can refuse to fly the airplanes.@@@@1@23@@oe@2-2-2013
22172058@unknown@formal@none@1@S@If they were to insist on a low bid of, say $200 a share, the board mightn't be able to obtain a higher offer from other bidders because banks might hesitate to finance a transaction the pilots oppose.@@@@1@38@@oe@2-2-2013
22172059@unknown@formal@none@1@S@Also, because UAL Chairman Stephen Wolf and other UAL executives have joined the pilots' bid, the board might be forced to exclude him from its deliberations in order to be fair to other bidders.@@@@1@34@@oe@2-2-2013
22172060@unknown@formal@none@1@S@That could cost him the chance to influence the outcome and perhaps join the winning bidder.@@@@1@16@@oe@2-2-2013
22200001@unknown@formal@none@1@S@Influential members of the House Ways and Means Committee introduced legislation that would restrict how the new savings-and-loan bailout agency can raise capital, creating another potential obstacle to the government's sale of sick thrifts.@@@@1@34@@oe@2-2-2013
22200002@unknown@formal@none@1@S@The bill, whose backers include Chairman Dan Rostenkowski (D., Ill.), would prevent the Resolution Trust Corp. from raising temporary working capital by having an RTC-owned bank or thrift issue debt that wouldn't be counted on the federal budget.@@@@1@38@@oe@2-2-2013
22200003@unknown@formal@none@1@S@The bill intends to restrict the RTC to Treasury borrowings only, unless the agency receives specific congressional authorization.@@@@1@18@@oe@2-2-2013
22200004@unknown@formal@none@1@S@"Such agency `self-help' borrowing is unauthorized and expensive, far more expensive than direct Treasury borrowing," said Rep. Fortney Stark (D., Calif.), the bill's chief sponsor.@@@@1@25@@oe@2-2-2013
22200005@unknown@formal@none@1@S@The complex financing plan in the S&L bailout law includes raising $30 billion from debt issued by the newly created RTC.@@@@1@21@@oe@2-2-2013
22200006@unknown@formal@none@1@S@This financing system was created in the new law in order to keep the bailout spending from swelling the budget deficit.@@@@1@21@@oe@2-2-2013
22200007@unknown@formal@none@1@S@Another $20 billion would be raised through Treasury bonds, which pay lower interest rates.@@@@1@14@@oe@2-2-2013
22200008@unknown@formal@none@1@S@But the RTC also requires "working" capital to maintain the bad assets of thrifts that are sold, until the assets can be sold separately.@@@@1@24@@oe@2-2-2013
22200009@unknown@formal@none@1@S@That debt would be paid off as the assets are sold, leaving the total spending for the bailout at $50 billion, or $166 billion including interest over 10 years.@@@@1@29@@oe@2-2-2013
22200010@unknown@formal@none@1@S@"It's a problem that clearly has to be resolved," said David Cooke, executive director of the RTC.@@@@1@17@@oe@2-2-2013
22200011@unknown@formal@none@1@S@The agency has already spent roughly $19 billion selling 34 insolvent S&Ls, and it is likely to sell or merge 600 by the time the bailout concludes.@@@@1@27@@oe@2-2-2013
22200012@unknown@formal@none@1@S@Absent other working capital, he said, the RTC would be forced to delay other thrift resolutions until cash could be raised by selling the bad assets.@@@@1@26@@oe@2-2-2013
22200013@unknown@formal@none@1@S@"We would have to wait until we have collected on those assets before we can move forward," he said.@@@@1@19@@oe@2-2-2013
22200014@unknown@formal@none@1@S@The complicated language in the huge new law has muddied the fight.@@@@1@12@@oe@2-2-2013
22200015@unknown@formal@none@1@S@The law does allow the RTC to borrow from the Treasury up to $5 billion at any time.@@@@1@18@@oe@2-2-2013
22200016@unknown@formal@none@1@S@Moreover, it says the RTC's total obligations may not exceed $50 billion, but that figure is derived after including notes and other debt, and subtracting from it the market value of the assets the RTC holds.@@@@1@36@@oe@2-2-2013
22200017@unknown@formal@none@1@S@But Congress didn't anticipate or intend more public debt, say opponents of the RTC's working-capital plan, and Rep. Charles Schumer (D., N.Y.) said the RTC Oversight Board has been remiss in not keeping Congress informed.@@@@1@35@@oe@2-2-2013
22200018@unknown@formal@none@1@S@"That secrecy leads to a proposal like the one from Ways and Means, which seems to me sort of draconian," he said.@@@@1@22@@oe@2-2-2013
22200019@unknown@formal@none@1@S@"The RTC is going to have to pay a price of prior consultation on the Hill if they want that kind of flexibility."@@@@1@23@@oe@2-2-2013
22200020@unknown@formal@none@1@S@The Ways and Means Committee will hold a hearing on the bill next Tuesday.@@@@1@14@@oe@2-2-2013
22201001@unknown@formal@none@1@S@We're about to see if advertising works.@@@@1@7@@oe@2-2-2013
22201002@unknown@formal@none@1@S@Hard on the heels of Friday's 190-point stock-market plunge and the uncertainty that's followed, a few big brokerage firms are rolling out new ads trumpeting a familiar message: Keep on investing, the market's just fine.@@@@1@35@@oe@2-2-2013
22201003@unknown@formal@none@1@S@Their mission is to keep clients from fleeing the market, as individual investors did in droves after the crash in October@@@@1@21@@oe@2-2-2013
22201004@unknown@formal@none@1@S@Just days after the 1987 crash, major brokerage firms rushed out ads to calm investors.@@@@1@15@@oe@2-2-2013
22201005@unknown@formal@none@1@S@This time around, they're moving even faster.@@@@1@7@@oe@2-2-2013
22201006@unknown@formal@none@1@S@PaineWebber Inc. filmed a new television commercial at 4 p.m. EDT yesterday and had it on the air by last night.@@@@1@21@@oe@2-2-2013
22201007@unknown@formal@none@1@S@Fidelity Investments placed new ads in newspapers yesterday, and wrote another new ad appearing today.@@@@1@15@@oe@2-2-2013
22201008@unknown@formal@none@1@S@Shearson Lehman Hutton Inc. by yesterday afternoon had already written new TV ads.@@@@1@13@@oe@2-2-2013
22201009@unknown@formal@none@1@S@It considered running them during tomorrow night's World Series broadcast but decided not to when the market recovered yesterday.@@@@1@19@@oe@2-2-2013
22201010@unknown@formal@none@1@S@Other brokerage firms, including Merrill Lynch & Co., were plotting out potential new ad strategies.@@@@1@15@@oe@2-2-2013
22201011@unknown@formal@none@1@S@The brokerage firms learned a lesson the last time around, when frightened investors flooded the phone lines and fled the market in a panic.@@@@1@24@@oe@2-2-2013
22201012@unknown@formal@none@1@S@This time, the firms were ready.@@@@1@6@@oe@2-2-2013
22201013@unknown@formal@none@1@S@Fidelity, for example, prepared ads several months ago in case of a market plunge.@@@@1@14@@oe@2-2-2013
22201014@unknown@formal@none@1@S@When the market went into its free fall Friday afternoon, the investment firm ordered full pages in the Monday editions of half a dozen newspapers.@@@@1@25@@oe@2-2-2013
22201015@unknown@formal@none@1@S@The ads touted Fidelity's automated 800-number beneath the huge headline, "Fidelity Is Ready For Your Call."@@@@1@16@@oe@2-2-2013
22201016@unknown@formal@none@1@S@A Fidelity spokesman says the 800-line, which already was operating but which many clients didn't know about, received about double the usual volume of calls over the weekend.@@@@1@28@@oe@2-2-2013
22201017@unknown@formal@none@1@S@"A lot of investor confidence comes from the fact that they can speak to us," he says.@@@@1@17@@oe@2-2-2013
22201018@unknown@formal@none@1@S@"To maintain that dialogue is absolutely crucial.@@@@1@7@@oe@2-2-2013
22201019@unknown@formal@none@1@S@It would have been too late to think about on Friday.@@@@1@11@@oe@2-2-2013
22201020@unknown@formal@none@1@S@We had to think about it ahead of time."@@@@1@9@@oe@2-2-2013
22201021@unknown@formal@none@1@S@Today's Fidelity ad goes a step further, encouraging investors to stay in the market or even to plunge in with Fidelity.@@@@1@21@@oe@2-2-2013
22201022@unknown@formal@none@1@S@Underneath the headline "Diversification," it counsels, "Based on the events of the past week, all investors need to know their portfolios are balanced to help protect them against the market's volatility."@@@@1@31@@oe@2-2-2013
22201023@unknown@formal@none@1@S@It goes on to plug a few diversified Fidelity funds by name.@@@@1@12@@oe@2-2-2013
22201024@unknown@formal@none@1@S@PaineWebber also was able to gear up quickly thanks to the 1987 crash.@@@@1@13@@oe@2-2-2013
22201025@unknown@formal@none@1@S@In the aftermath of the 1987 debacle, the brokerage firm began taping commercials in-house, ultimately getting its timing down fast enough to tape a commercial after the market closed and rush it on the air that night.@@@@1@37@@oe@2-2-2013
22201026@unknown@formal@none@1@S@It also negotiated an arrangement with Cable News Network under which CNN would agree to air its last-minute creations.@@@@1@19@@oe@2-2-2013
22201027@unknown@formal@none@1@S@The new PaineWebber commercial, created with ad agency Saatchi & Saatchi Co., features Mary Farrell, one of the firm's most visible investment strategists, sounding particularly bullish.@@@@1@26@@oe@2-2-2013
22201028@unknown@formal@none@1@S@Taped just as the market closed yesterday, it offers Ms. Farrell advising, "We view the market here as going through a relatively normal cycle. . . .@@@@1@27@@oe@2-2-2013
22201029@unknown@formal@none@1@S@We continue to feel that the stock market is still the place to be for long-term appreciation."@@@@1@17@@oe@2-2-2013
22201030@unknown@formal@none@1@S@The spot was scheduled to appear three times on CNN last night.@@@@1@12@@oe@2-2-2013
22201031@unknown@formal@none@1@S@PaineWebber considered an even harder sell, recommending specific stocks.@@@@1@9@@oe@2-2-2013
22201032@unknown@formal@none@1@S@Instead, it settled on just urging the clients who are its lifeline to keep that money in the market.@@@@1@19@@oe@2-2-2013
22201033@unknown@formal@none@1@S@"We're saying the worst thing that anyone can do is to see the market go down and dump everything, which just drives the prices down further," says John Lampe, PaineWebber's director of advertising.@@@@1@33@@oe@2-2-2013
22201034@unknown@formal@none@1@S@"If you owned it and liked it Friday, the true value hasn't changed."@@@@1@13@@oe@2-2-2013
22201035@unknown@formal@none@1@S@He adds, "This isn't 1987 revisited."@@@@1@6@@oe@2-2-2013
22201036@unknown@formal@none@1@S@With the market fluctuating and then closing up more than 88 points yesterday, investment firms had to constantly revise their approach.@@@@1@21@@oe@2-2-2013
22201037@unknown@formal@none@1@S@At Shearson Lehman, executives created potential new commercials Friday night and throughout the weekend, then had to regroup yesterday afternoon.@@@@1@20@@oe@2-2-2013
22201038@unknown@formal@none@1@S@The plan had been to make one of Shearson's easy-to-film, black-and-white "Where We Stand" commercials, which have been running occasionally in response to news events since 1985.@@@@1@27@@oe@2-2-2013
22201039@unknown@formal@none@1@S@The ad would have run during the World Series tomorrow, replacing the debut commercial of Shearson's new ad campaign, "Leadership by Example."@@@@1@22@@oe@2-2-2013
22201040@unknown@formal@none@1@S@But in a meeting after the market closed yesterday, Shearson executives decided not to go ahead with the stock-market ad.@@@@1@20@@oe@2-2-2013
22201041@unknown@formal@none@1@S@"We don't think at this point anything needs to be said.@@@@1@11@@oe@2-2-2013
22201042@unknown@formal@none@1@S@The market seems to be straightening out; we're taking a wait-and-see attitude," says Cathleen B. Stewart, executive vice president of marketing.@@@@1@21@@oe@2-2-2013
22201043@unknown@formal@none@1@S@In any case, the brokerage firms are clearly moving faster to create new ads than they did in the fall of 1987.@@@@1@22@@oe@2-2-2013
22201044@unknown@formal@none@1@S@But it remains to be seen whether their ads will be any more effective.@@@@1@14@@oe@2-2-2013
22201045@unknown@formal@none@1@S@In 1987, despite a barrage of ads from most of the major investment firms, individuals ran from the market en masse.@@@@1@21@@oe@2-2-2013
22201046@unknown@formal@none@1@S@Now the firms must try their hardest to prove that advertising can work this time around.@@@@1@16@@oe@2-2-2013
22201047@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
22201048@unknown@formal@none@1@S@ARNOLD ADVERTISING:@@@@1@2@@oe@2-2-2013
22201049@unknown@formal@none@1@S@Edward Eskandarian, former chairman of Della Femina, McNamee WCRS/Boston, reached an agreement in principle to acquire a majority stake in Arnold Advertising, a small Boston shop.@@@@1@26@@oe@2-2-2013
22201050@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
22201051@unknown@formal@none@1@S@Mr. Eskandarian, who resigned his Della Femina post in September, becomes chairman and chief executive of Arnold.@@@@1@17@@oe@2-2-2013
22201052@unknown@formal@none@1@S@John Verret, the agency's president and chief executive, will retain the title of president.@@@@1@14@@oe@2-2-2013
22201053@unknown@formal@none@1@S@Separately, McDonald's Corp., Oak Brook, Ill., named Arnold to handle its estimated $4 million cooperative ad account for the Hartford, Conn., area.@@@@1@22@@oe@2-2-2013
22201054@unknown@formal@none@1@S@That account had been handled by Della Femina, McNamee WCRS.@@@@1@10@@oe@2-2-2013
22201055@unknown@formal@none@1@S@EDUCATION ADS:@@@@1@2@@oe@2-2-2013
22201056@unknown@formal@none@1@S@A 142-page ad supplement to Business Week's special "Corporate Elite" issue calls on business leaders to use their clout to help solve the nation's education crisis.@@@@1@26@@oe@2-2-2013
22201057@unknown@formal@none@1@S@The supplement, the largest ever for the magazine, includes ads from 52 corporate advertisers and kicks off a two-year Business Week initiative on education.@@@@1@24@@oe@2-2-2013
22201058@unknown@formal@none@1@S@The magazine will distribute 10% of the gross revenues from the supplement as grants to innovative teachers.@@@@1@17@@oe@2-2-2013
22202001@unknown@formal@none@1@S@You know what the law of averages is, don't you?@@@@1@10@@oe@2-2-2013
22202002@unknown@formal@none@1@S@It's what 1) explains why we are like, well, ourselves rather than Bo Jackson; 2) cautions that it's possible to drown in a lake that averages two feet deep; and 3) predicts that 10,000 monkeys placed before 10,000 pianos would produce 1,118 publishable rock 'n' roll tunes.@@@@1@47@@oe@2-2-2013
22202003@unknown@formal@none@1@S@Baseball, that game of the long haul, is the quintessential sport of the mean, and the mean ol' law caught up with the San Francisco Giants in the World Series last weekend.@@@@1@32@@oe@2-2-2013
22202004@unknown@formal@none@1@S@The team that dumped runs by the bushel on the Chicago Cubs in the National League playoffs was held to just one in two games by the home-team Oakland A's, the gang that had been done unto similarly by the Los Angeles Dodgers and Orel Hershiser in last year's tournament.@@@@1@50@@oe@2-2-2013
22202005@unknown@formal@none@1@S@Morever, much of the damage was accomplished by A's who had some catching up to do.@@@@1@16@@oe@2-2-2013
22202006@unknown@formal@none@1@S@In game two, on a cool Sunday evening in this land of perpetual autumn, a lot of the catching up was done by the A's catcher, Terry Steinbach.@@@@1@28@@oe@2-2-2013
22202007@unknown@formal@none@1@S@He hit a 2-0 pitch from Rick Reuschel into the left-field stands in inning four to stretch his team's lead from 2-1 to a decisive 5-1, where it stayed.@@@@1@29@@oe@2-2-2013
22202008@unknown@formal@none@1@S@So what if Steinbach had struck just seven home runs in 130 regular-season games, and batted in the seventh position of the A's lineup.@@@@1@24@@oe@2-2-2013
22202009@unknown@formal@none@1@S@"If you get your pitch, and take a good swing, anything can happen," he later remarked.@@@@1@16@@oe@2-2-2013
22202010@unknown@formal@none@1@S@On Saturday night, quite a few of the boys in green and gold salted away successes to salve the pain of past and, no doubt, future droughts.@@@@1@27@@oe@2-2-2013
22202011@unknown@formal@none@1@S@Mark McGwire, the big, red-haired Oakland first baseman, had three hits in four at bats, two more than he'd had in the five-game Dodger series in which he'd gone 1-for-17.@@@@1@30@@oe@2-2-2013
22202012@unknown@formal@none@1@S@The A-men batting Nos. 6 through 9, a.k.a. the "bottom of the order," got seven of their team's 11 hits and scored four of its runs in a 5-0 decision.@@@@1@30@@oe@2-2-2013
22202013@unknown@formal@none@1@S@Right-hander Dave Stewart held the Giants to five hits to account for the zero on the other side of the Saturday ledger.@@@@1@22@@oe@2-2-2013
22202014@unknown@formal@none@1@S@That he was the A's winningest pitcher during its American League campaign with a 21-9 mark, plus two wins over Toronto in the playoffs, indicates he may have some evening up coming, but with the way his split-fingered fastball is behaving, that might not be this week.@@@@1@47@@oe@2-2-2013
22202015@unknown@formal@none@1@S@The same goes for Mike Moore, another veteran who overcame early struggles to permit the Giants but a run and four hits in seven innings in Sunday's contest.@@@@1@28@@oe@2-2-2013
22202016@unknown@formal@none@1@S@"Every guy they put out there had a better split-finger than the guy before," marveled Giant manager Roger Craig.@@@@1@19@@oe@2-2-2013
22202017@unknown@formal@none@1@S@He's an ex-hurler who's one of the leading gurus of the fashionable delivery, which looks like a fastball until it dives beneath the lunging bat.@@@@1@25@@oe@2-2-2013
22202018@unknown@formal@none@1@S@The upshot of the downshoot is that the A's go into San Francisco's Candlestick Park tonight up two games to none in the best-of-seven fest.@@@@1@25@@oe@2-2-2013
22202019@unknown@formal@none@1@S@The stat to reckon with here says that about three of four clubs (29 of 39) that took 2-0 Series leads went on to win it all.@@@@1@27@@oe@2-2-2013
22202020@unknown@formal@none@1@S@That's not an average to soothe Giant rooters.@@@@1@8@@oe@2-2-2013
22202021@unknown@formal@none@1@S@One might think that the home fans in this Series of the Subway Called BART (that's a better name for a public conveyance than "Desire," don't you think?) would have been ecstatic over the proceedings, but they observe them in relative calm.@@@@1@42@@oe@2-2-2013
22202022@unknown@formal@none@1@S@Partisans of the two combatants sat side by side in the 49,000-plus seats of Oakland Coliseum, and while they cheered their favorites and booed the opposition, hostilities advanced no further, at least as far as I could see.@@@@1@38@@oe@2-2-2013
22202023@unknown@formal@none@1@S@A few folks even showed up wearing caps bearing the colors and emblems of both teams.@@@@1@16@@oe@2-2-2013
22202024@unknown@formal@none@1@S@"I'm for the Giants today, but only because they lost yesterday.@@@@1@11@@oe@2-2-2013
22202025@unknown@formal@none@1@S@I love 'em both.@@@@1@4@@oe@2-2-2013
22202026@unknown@formal@none@1@S@The only thing I'm rooting for is for the Series to go seven games," said David Williams, a Sacramento septuagenarian, at the Coliseum before Sunday's go.@@@@1@26@@oe@2-2-2013
22202027@unknown@formal@none@1@S@The above represents a triumph of either apathy or civility.@@@@1@10@@oe@2-2-2013
22202028@unknown@formal@none@1@S@I choose to believe it's the latter, although it probably springs from the fact that just about everyone out here, including the A's and Giants, is originally from somewhere else.@@@@1@30@@oe@2-2-2013
22202029@unknown@formal@none@1@S@Suffice it to say that if this were a New York Yankees-Mets series, or one between the Chicago Cubs and White Sox (hey, it's possible), you'd need uniformed police in every other seat to separate opposing fans, and only the suicidal would bifurcate their bonnets.@@@@1@45@@oe@2-2-2013
22202030@unknown@formal@none@1@S@Anyway, the A's gave you a lot of heroes to root for.@@@@1@12@@oe@2-2-2013
22202031@unknown@formal@none@1@S@In the opening game, besides Steinbach and Stewart, there was Walt Weiss, a twiggy-looking, second-year shortstop who had lost a couple months of the season to knee surgery.@@@@1@28@@oe@2-2-2013
22202032@unknown@formal@none@1@S@He was flawless afield (ditto in game two), moved a runner along in the A's three-run second inning, and homered for his team's final tally.@@@@1@25@@oe@2-2-2013
22202033@unknown@formal@none@1@S@Such is his reputation among the East Bay Bashers that when he hit his first career home run last season, the fan who caught it agreed to turn the ball over to him in return for an autograph.@@@@1@38@@oe@2-2-2013
22202034@unknown@formal@none@1@S@Not his autograph; power-hitter McGwire's.@@@@1@5@@oe@2-2-2013
22202035@unknown@formal@none@1@S@An A's co-hero of the second game was Rickey Henderson, who exemplifies the hot side of the hot-cold equation.@@@@1@19@@oe@2-2-2013
22202036@unknown@formal@none@1@S@He smoked Toronto in the playoffs with six hits, seven walks and eight stolen bases in 22 at bats, and continued that by going 3-for-3 at the plate Sunday, along with walking, stealing a base and scoring a run.@@@@1@39@@oe@2-2-2013
22202037@unknown@formal@none@1@S@"When you're in the groove, you see every ball tremendously," he lectured.@@@@1@12@@oe@2-2-2013
22202038@unknown@formal@none@1@S@The cold guys in the set were Will Clark, Kevin Mitchell and Matt Williams, the Giants' 3-4-5 hitters.@@@@1@18@@oe@2-2-2013
22202039@unknown@formal@none@1@S@They combined for 25 hits, six home runs and 24 runs batted in in the five games against the Cubs.@@@@1@20@@oe@2-2-2013
22202040@unknown@formal@none@1@S@They went a collective 5-for-24 here, with zero homers and ribbies.@@@@1@11@@oe@2-2-2013
22202041@unknown@formal@none@1@S@It's that last set of numbers, as much as anything else, that gives the Giants hope in the Series games to come.@@@@1@22@@oe@2-2-2013
22202042@unknown@formal@none@1@S@"I believe in the law of averages," declared San Francisco batting coach Dusty Baker after game two.@@@@1@17@@oe@2-2-2013
22202043@unknown@formal@none@1@S@"I'd rather see a so-so hitter who's hot come up for the other side than a good hitter who's cold."@@@@1@20@@oe@2-2-2013
22202044@unknown@formal@none@1@S@But the old Dodger slugger wisely offered no prediction about when good times would return to his side.@@@@1@18@@oe@2-2-2013
22202045@unknown@formal@none@1@S@"When it goes, you never know when you'll get it back," he said.@@@@1@13@@oe@2-2-2013
22202046@unknown@formal@none@1@S@"That's baseball.@@@@1@2@@oe@2-2-2013
22203001@unknown@formal@none@1@S@NCR Corp. reported a 10% drop in third-quarter net income, citing intense competition that caused its gross profit margins to dip.@@@@1@21@@oe@2-2-2013
22203002@unknown@formal@none@1@S@Net income for the quarter fell to $93.1 million from $103.1 million, roughly what analysts had expected.@@@@1@17@@oe@2-2-2013
22203003@unknown@formal@none@1@S@But per-share profit dropped only 2% to $1.23 a share from $1.26 a share, as the company continued its stock buy-back plan.@@@@1@22@@oe@2-2-2013
22203004@unknown@formal@none@1@S@Average shares outstanding dropped to 75.8 million from 82.1 million.@@@@1@10@@oe@2-2-2013
22203005@unknown@formal@none@1@S@Revenue fell 1% to $1.39 billion from $1.41 billion.@@@@1@9@@oe@2-2-2013
22203006@unknown@formal@none@1@S@The computer maker, which sells more than half its goods outside the U.S., also said the negative effect of a stronger U.S. dollar will "adversely affect" its fourth-quarter performance and "make it difficult" to better 1988 results.@@@@1@37@@oe@2-2-2013
22203007@unknown@formal@none@1@S@NCR said revenue declined both in the U.S. and overseas, reflecting a world-wide softening of the computer markets.@@@@1@18@@oe@2-2-2013
22203008@unknown@formal@none@1@S@The company, however, said orders in the U.S. showed "good gains" during the latest quarter.@@@@1@15@@oe@2-2-2013
22203009@unknown@formal@none@1@S@Analysts estimate those gains at 12% to 13%, a good part of it coming from large orders placed by a few of NCR's major customers.@@@@1@25@@oe@2-2-2013
22203010@unknown@formal@none@1@S@In addition to a general slowing of the computer industry, NCR, which sells automated teller machines and computerized cash registers, is also affected by the retail and financial sectors, "areas of the economy that have generally not been robust," notes Sanjiv G. Hingorani, an analyst for Salomon Brothers Inc.@@@@1@49@@oe@2-2-2013
22203011@unknown@formal@none@1@S@These factors, combined with a strong dollar, should negatively affect the current quarter's results, NCR said.@@@@1@16@@oe@2-2-2013
22203012@unknown@formal@none@1@S@In the year-earlier fourth quarter, NCR had profit of $149.6 million, or $1.85 a share, on revenue of $1.8 billion.@@@@1@20@@oe@2-2-2013
22203013@unknown@formal@none@1@S@Mr. Hingorani said he lowered his full-year estimates for 1989 to $5.35 a share from $5.50 a share.@@@@1@18@@oe@2-2-2013
22203014@unknown@formal@none@1@S@Revenue projections were slashed to $6.03 billion from $6.20 billion.@@@@1@10@@oe@2-2-2013
22203015@unknown@formal@none@1@S@Last year, NCR had net income of $439.3 million, or $5.33 a share, on $5.99 billion in revenue.@@@@1@18@@oe@2-2-2013
22203016@unknown@formal@none@1@S@For the nine months, the company's earnings fell 9% to $264.6 million, or $3.40 a share, from $289.7 million, or $3.49 a share.@@@@1@23@@oe@2-2-2013
22203017@unknown@formal@none@1@S@Revenues declined 1% to $4.17 billion from $4.19 billion.@@@@1@9@@oe@2-2-2013
22203018@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, NCR shares fell 75 cents to close at $57.@@@@1@17@@oe@2-2-2013
22204001@unknown@formal@none@1@S@Concerning your Sept. 19 article "Wall Street Firms Link Analysts' Pay to Performance," I'm delighted that Wall Street is finally tuning in to the hard, cold facts of the real working world.@@@@1@32@@oe@2-2-2013
22204002@unknown@formal@none@1@S@If the firms are serious, however, why limit the practice to the poor, maligned analysts whose ability to see into the future is fragile at best?@@@@1@26@@oe@2-2-2013
22204003@unknown@formal@none@1@S@Why not extend the same harsh standards to the sales force, and pay brokers a base salary with annual bonus based on how much money they made for their clients during the year?@@@@1@33@@oe@2-2-2013
22204004@unknown@formal@none@1@S@That should stop a lot of account-churning, and produce a stock market driven only by professional concern, careful thought and good sense.@@@@1@22@@oe@2-2-2013
22204005@unknown@formal@none@1@S@Now, wouldn't that be a novelty.@@@@1@6@@oe@2-2-2013
22204006@unknown@formal@none@1@S@Phyllis Kyle Stephenson Newport News, Va.@@@@1@6@@oe@2-2-2013
22205001@unknown@formal@none@1@S@Steve Clark, a Shearson Lehman Hutton Inc. trader, reported for work at 5 a.m., two and a half hours before the usual Monday morning strategy meeting.@@@@1@26@@oe@2-2-2013
22205002@unknown@formal@none@1@S@At Jefferies & Co., J. Francis Palamara didn't reach the office until 5:30 a.m., but then he had been up most of the night at home.@@@@1@26@@oe@2-2-2013
22205003@unknown@formal@none@1@S@"I had calls all night long from the States," he said.@@@@1@11@@oe@2-2-2013
22205004@unknown@formal@none@1@S@"I was woken up every hour -- 1:30, 2:30, 3:30, 4:30.@@@@1@11@@oe@2-2-2013
22205005@unknown@formal@none@1@S@People are looking for possible opportunities to buy, but nobody wants to stick their chin out."@@@@1@16@@oe@2-2-2013
22205006@unknown@formal@none@1@S@For many of London's securities traders, it was a day that started nervously in the small hours.@@@@1@17@@oe@2-2-2013
22205007@unknown@formal@none@1@S@By lunchtime, the selling was at near-panic fever.@@@@1@8@@oe@2-2-2013
22205008@unknown@formal@none@1@S@But as the day ended in a frantic Wall Street-inspired rally, the City breathed a sigh of relief.@@@@1@18@@oe@2-2-2013
22205009@unknown@formal@none@1@S@So it went yesterday in the trading rooms of London's financial district.@@@@1@12@@oe@2-2-2013
22205010@unknown@formal@none@1@S@In the wake of Wall Street's plunge last Friday, the London market was considered especially vulnerable.@@@@1@16@@oe@2-2-2013
22205011@unknown@formal@none@1@S@And before the opening of trading here yesterday, all eyes were on early trading in Tokyo for a clue as to how widespread the fallout might be.@@@@1@27@@oe@2-2-2013
22205012@unknown@formal@none@1@S@By the time trading officially got under way at 9 a.m., the news from Asia was in.@@@@1@17@@oe@2-2-2013
22205013@unknown@formal@none@1@S@And it left mixed signals for London.@@@@1@7@@oe@2-2-2013
22205014@unknown@formal@none@1@S@Tokyo stocks closed off a significant but less-than-alarming 1.8% on thin volume; Hong Kong stocks declined 6.5% in orderly trading.@@@@1@20@@oe@2-2-2013
22205015@unknown@formal@none@1@S@At Jefferies' trading room on Finsbury Circus, a stately circle at the edge of the financial district, desktop computer screens displayed the London market's major barometer -- the Financial Times-Stock Exchange 100 Share Index.@@@@1@34@@oe@2-2-2013
22205016@unknown@formal@none@1@S@Red figures on the screens indicated falling stocks; blue figures, rising stocks.@@@@1@12@@oe@2-2-2013
22205017@unknown@formal@none@1@S@Right away, the reds outnumbered the blues, 80 to 20, as the index opened at 2076.8, off 157.1 points, or 7%.@@@@1@21@@oe@2-2-2013
22205018@unknown@formal@none@1@S@"I see concern, but I don't see any panic," said Mr. Palamara, a big, good-humored New York native who runs the 15-trader office.@@@@1@23@@oe@2-2-2013
22205019@unknown@formal@none@1@S@The Jefferies office, a branch of the Los Angeles-based firm, played it conservatively, seeking to avoid risk.@@@@1@17@@oe@2-2-2013
22205020@unknown@formal@none@1@S@"This is not the sort of market to have a big position in," said David Smith, who heads trading in all non-U.S. stocks.@@@@1@23@@oe@2-2-2013
22205021@unknown@formal@none@1@S@"We tend to run a very tight book."@@@@1@8@@oe@2-2-2013
22205022@unknown@formal@none@1@S@Jefferies spent most of its energies in the morning trying to match buyers and sellers, and there weren't many buyers.@@@@1@20@@oe@2-2-2013
22205023@unknown@formal@none@1@S@"All the takeover stocks -- Scottish & Newcastle, B.A.T, DRG -- are getting pretty well pasted this morning," Mr. Smith said.@@@@1@21@@oe@2-2-2013
22205024@unknown@formal@none@1@S@Seconds later, a 7,500-share "sell" order for Scottish & Newcastle came in.@@@@1@12@@oe@2-2-2013
22205025@unknown@formal@none@1@S@For the third time in 15 minutes, a trader next to Mr. Smith left the no-smoking area to have a cigarette.@@@@1@21@@oe@2-2-2013
22205026@unknown@formal@none@1@S@On the screens, only two forlorn blue figures remained, but the index had recovered a few points and was off about 140.@@@@1@22@@oe@2-2-2013
22205027@unknown@formal@none@1@S@"Because Tokyo didn't collapse, let's pick up a little stock," Mr. Smith said.@@@@1@13@@oe@2-2-2013
22205028@unknown@formal@none@1@S@He targeted 7,500 shares of Reuters and punched a button to call up on his screen other dealers' price quotes.@@@@1@20@@oe@2-2-2013
22205029@unknown@formal@none@1@S@The vivid yellow figures showed the best price at 845 pence, ($13.27) and Mr. Smith's traders started putting out feelers.@@@@1@20@@oe@2-2-2013
22205030@unknown@formal@none@1@S@But the market sensed a serious buyer on a day dominated by selling, and the quotes immediately jumped to 850 pence.@@@@1@21@@oe@2-2-2013
22205031@unknown@formal@none@1@S@"When I want to buy, they run from you -- they keep changing their prices," Mr. Smith said.@@@@1@18@@oe@2-2-2013
22205032@unknown@formal@none@1@S@"It's very frustrating."@@@@1@3@@oe@2-2-2013
22205033@unknown@formal@none@1@S@He temporarily abandoned his search for the Reuters shares.@@@@1@9@@oe@2-2-2013
22205034@unknown@formal@none@1@S@By this time, it was 4:30 a.m. in New York, and Mr. Smith fielded a call from a New York customer wanting an opinion on the British stock market, which had been having troubles of its own even before Friday's New York market break.@@@@1@44@@oe@2-2-2013
22205035@unknown@formal@none@1@S@"Fundamentally dangerous. . . ," Mr. Smith said, almost in a whisper, ". . . .fundamentally weak . . . fairly vulnerable still . . . extremely dangerously poised . . .@@@@1@32@@oe@2-2-2013
22205036@unknown@formal@none@1@S@we're in for a lot of turbulence. . . ."@@@@1@10@@oe@2-2-2013
22205037@unknown@formal@none@1@S@He was right.@@@@1@3@@oe@2-2-2013
22205038@unknown@formal@none@1@S@By midday, the London market was in full retreat.@@@@1@9@@oe@2-2-2013
22205039@unknown@formal@none@1@S@"It's falling like a stone," said Danny Linger, a pit trader who was standing outside the London International Financial Futures Exchange.@@@@1@21@@oe@2-2-2013
22205040@unknown@formal@none@1@S@Only half the usual lunchtime crowd gathered at the tony Corney & Barrow wine bar on Old Broad Street nearby.@@@@1@20@@oe@2-2-2013
22205041@unknown@formal@none@1@S@Conversation was subdued as most patrons watched the latest market statistics on television.@@@@1@13@@oe@2-2-2013
22205042@unknown@formal@none@1@S@At 12:49 p.m., the index hit its low, 2029.7, off 204.2 points.@@@@1@12@@oe@2-2-2013
22205043@unknown@formal@none@1@S@"France opened the limit down, off at least 10% if you could calculate the index, which you couldn't," Mr. Clark, the Shearson trader, said early in the afternoon.@@@@1@28@@oe@2-2-2013
22205044@unknown@formal@none@1@S@"Spain is down 10% and suspended, Sweden's down 8%, Norway 11%.@@@@1@11@@oe@2-2-2013
22205045@unknown@formal@none@1@S@This market has been very badly damaged."@@@@1@7@@oe@2-2-2013
22205046@unknown@formal@none@1@S@As 2:30 p.m. -- Wall Street's opening time -- neared, Shearson traders and salesmen traded bets on how low the New York market would open.@@@@1@25@@oe@2-2-2013
22205047@unknown@formal@none@1@S@In the center of the trading floor, chief trader Roger Streeter and two colleagues scrambled for the telephones as soon as the New York market opened -- plummeting more than 60 points in the first few minutes.@@@@1@37@@oe@2-2-2013
22205048@unknown@formal@none@1@S@They saw an opportunity created by the sell-off.@@@@1@8@@oe@2-2-2013
22205049@unknown@formal@none@1@S@As Wall Street traders dumped American Depositary Receipts in Jaguar PLC, Mr. Streeter and trader Sam Ruiz bought them to resell in the U.K.@@@@1@24@@oe@2-2-2013
22205050@unknown@formal@none@1@S@Investors here still expect Ford Motor Co. or General Motors Corp. to bid for Jaguar.@@@@1@15@@oe@2-2-2013
22205051@unknown@formal@none@1@S@Suddenly, after about 45 minutes, the U.S. markets rallied.@@@@1@9@@oe@2-2-2013
22205052@unknown@formal@none@1@S@"The MMI has gone better," shouted one trader at about 3:15 London time, as the U.S. Major Markets Index contract suddenly indicated a turnabout.@@@@1@24@@oe@2-2-2013
22205053@unknown@formal@none@1@S@As Wall Street strengthened, the London trading room went wild.@@@@1@10@@oe@2-2-2013
22205054@unknown@formal@none@1@S@Traders shouted as their screens posted an ever-narrowing loss on Wall Street.@@@@1@12@@oe@2-2-2013
22205055@unknown@formal@none@1@S@Then, nine minutes later, Wall Street suddenly rebounded to a gain on the day.@@@@1@14@@oe@2-2-2013
22205056@unknown@formal@none@1@S@"Rally! Rally! Rally!" shouted Shearson trader Andy Rosen, selling more Jaguar shares.@@@@1@12@@oe@2-2-2013
22205057@unknown@formal@none@1@S@"This is panic buying!"@@@@1@4@@oe@2-2-2013
22205058@unknown@formal@none@1@S@As the London market rallied, some wondered whether the weekend of worrying and jitters had been worth it.@@@@1@18@@oe@2-2-2013
22205059@unknown@formal@none@1@S@The London index closed at 2163.4, its high for the day, off 70.5, or about 3.3%.@@@@1@16@@oe@2-2-2013
22206001@unknown@formal@none@1@S@Ambassador Paul Nitze's statement (Notable & Quotable, Sept. 20), "If you have a million people working for you, every bad thing that has one chance in a million of going wrong will go wrong at least once a year," is a pretty negative way of looking at things.@@@@1@48@@oe@2-2-2013
22206002@unknown@formal@none@1@S@Isn't it just as fair to say that if you have a million people working for you, every good thing that has one chance in a million of going right will go right at least once a year?@@@@1@38@@oe@2-2-2013
22206003@unknown@formal@none@1@S@Don't be such a pessimist, Mr. Ambassador.@@@@1@7@@oe@2-2-2013
22206004@unknown@formal@none@1@S@Frank Tremdine@@@@1@2@@oe@2-2-2013
22207001@unknown@formal@none@1@S@The House Aviation Subcommittee approved a bill that would give the transportation secretary authority to review and approve leveraged buy-outs of major U.S. airlines.@@@@1@24@@oe@2-2-2013
22207002@unknown@formal@none@1@S@The collapsed plan to acquire UAL Corp., parent of United Airlines, spurred quick action on the legislation, introduced Wednesday and approved by the subcommittee on a voice vote yesterday.@@@@1@29@@oe@2-2-2013
22207003@unknown@formal@none@1@S@The bill is expected to be taken up by the Public Works and Transportation Committee tomorrow, and a floor vote by next week will be urged.@@@@1@26@@oe@2-2-2013
22207004@unknown@formal@none@1@S@The measure drew criticism from the Bush administration and a parting shot from financier Donald Trump, who yesterday withdrew his takeover bid for AMR Corp., the parent of American Airlines.@@@@1@30@@oe@2-2-2013
22207005@unknown@formal@none@1@S@In a letter to subcommittee Chairman James Oberstar (D., Minn.), Mr. Trump criticized the bill as an explicit effort to thwart his bid for AMR, and said it contributed to the collapse of the deal.@@@@1@35@@oe@2-2-2013
22207006@unknown@formal@none@1@S@Elaine Chao, deputy transportation secretary, also sent a letter to express the administration's opposition to the bill "in its present form."@@@@1@21@@oe@2-2-2013
22207007@unknown@formal@none@1@S@Rep. Oberstar brushed off Mr. Trump's allegations as an "excuse for his own deal failing."@@@@1@15@@oe@2-2-2013
22207008@unknown@formal@none@1@S@He also said the fact that the other letter hadn't come from Transportation Secretary Samuel Skinner indicated there is "wiggle room" in the administration's position.@@@@1@25@@oe@2-2-2013
22207009@unknown@formal@none@1@S@Mr. Oberstar and other committee members repeatedly stressed that the legislation wasn't a response to any particular market situation.@@@@1@19@@oe@2-2-2013
22207010@unknown@formal@none@1@S@But they cited the UAL and AMR examples as reasons to move quickly to enact this legislation.@@@@1@17@@oe@2-2-2013
22207011@unknown@formal@none@1@S@Aides both in the House and Senate said the withdrawal of the Trump bid for AMR isn't likely to deflate efforts to push the legislation.@@@@1@25@@oe@2-2-2013
22207012@unknown@formal@none@1@S@"It's still on the fast track and we still want to do it," said one Senate aide.@@@@1@17@@oe@2-2-2013
22207013@unknown@formal@none@1@S@The bill is aimed at addressing the concern that an airline might sacrifice costly safety measures to pay off the debt incurred in a leveraged buy-out.@@@@1@26@@oe@2-2-2013
22207014@unknown@formal@none@1@S@Currently, the transportation secretary doesn't have clearly established authority to block mergers, but can take the drastic step of revoking the operating certificate of any carrier the official considers unfit.@@@@1@30@@oe@2-2-2013
22207015@unknown@formal@none@1@S@Supporters of the legislation view the bill as an effort to add stability and certainty to the airline-acquisition process, and to preserve the safety and fitness of the industry.@@@@1@29@@oe@2-2-2013
22207016@unknown@formal@none@1@S@In general, the bill would give the Transportation Department a 30-day review period before 15% or more of the voting stock of a major U.S. air carrier could be acquired.@@@@1@30@@oe@2-2-2013
22207017@unknown@formal@none@1@S@It also would require the acquiring party to notify the transportation secretary and to provide all information relevant to determining the intent of the acquisition.@@@@1@25@@oe@2-2-2013
22207018@unknown@formal@none@1@S@The bill would allow the secretary to reject a buy-out if sufficient information hasn't been provided, or if the buy-out is likely to weaken the carrier financially, result in a substantial reduction in size of the airline through disposal of assets, or give control to a foreign interest.@@@@1@48@@oe@2-2-2013
22207019@unknown@formal@none@1@S@If more information is needed, the secretary would have authority to extend the review period 20 days.@@@@1@17@@oe@2-2-2013
22207020@unknown@formal@none@1@S@All the witnesses, both congressmen and industry experts, expressed support for the bill in order to prevent profiteers from cashing in on airline profits at the expense of safe, cost-effective service.@@@@1@31@@oe@2-2-2013
22207021@unknown@formal@none@1@S@But several committee members disapproved, some backing Mr. Trump's claim that the threat of regulation caused the failure of the UAL deal and the stock-market plunge.@@@@1@26@@oe@2-2-2013
22207022@unknown@formal@none@1@S@One of the major concerns expressed by the dissenters was that large airlines would be prohibited from divesting themselves of smaller entities and producing independent spin-off companies.@@@@1@27@@oe@2-2-2013
22208001@unknown@formal@none@1@S@In a possible prelude to the resumption of talks between Boeing Co. and striking Machinists union members, a federal mediator said representatives of the two sides will meet with him tomorrow.@@@@1@31@@oe@2-2-2013
22208002@unknown@formal@none@1@S@"It could be a long meeting or it could be a short one," said Doug Hammond, the mediator, who called the agreement to meet a first step toward a resumption of negotiations.@@@@1@32@@oe@2-2-2013
22208003@unknown@formal@none@1@S@"We're encouraged that talks are scheduled again but beyond that, we have made no expression of expectations," a Boeing spokesman said.@@@@1@21@@oe@2-2-2013
22208004@unknown@formal@none@1@S@The Machinists union has rejected a three-year contract offer that would have provided a 10% wage increase over the life of the pact, plus some bonuses.@@@@1@26@@oe@2-2-2013
22208005@unknown@formal@none@1@S@Currently, average pay for machinists is $13.39 an hour, Boeing said.@@@@1@11@@oe@2-2-2013
22208006@unknown@formal@none@1@S@Now in its 13th day, the strike has idled about 55,000 machinists and has started to delay delivery of some jetliners.@@@@1@21@@oe@2-2-2013
22208007@unknown@formal@none@1@S@With a strike fund of about $100 million, the union had said it was prepared for a long strike.@@@@1@19@@oe@2-2-2013
22208008@unknown@formal@none@1@S@After the third week on strike, union members will begin receiving $100 a week from the fund.@@@@1@17@@oe@2-2-2013
22208009@unknown@formal@none@1@S@Work at Boeing continues with supervisors and other non-striking personnel manning the lines.@@@@1@13@@oe@2-2-2013
22208010@unknown@formal@none@1@S@And at the company's Wichita, Kan., plant, about 2,400 of the 11,700 machinists still are working, Boeing said.@@@@1@18@@oe@2-2-2013
22208011@unknown@formal@none@1@S@Under Kansas right-to-work laws, contracts cannot require workers to be union members.@@@@1@12@@oe@2-2-2013
22208012@unknown@formal@none@1@S@Boeing has declined to say how many employees are working at its giant Renton, Wash., plant.@@@@1@16@@oe@2-2-2013
22208013@unknown@formal@none@1@S@Union officials couldn't be reached for comment.@@@@1@7@@oe@2-2-2013
22209001@unknown@formal@none@1@S@DPC Acquisition Partners, a hostile suitor for Dataproducts Corp., said it intends to launch a tender offer for the computer printer maker's common stock.@@@@1@24@@oe@2-2-2013
22209002@unknown@formal@none@1@S@DPC, a group led by the New York investment firm Crescott Inc., also said it plans to file preliminary materials with the Securities and Exchange Commission regarding a shareholder solicitation to oust Dataproducts' board.@@@@1@34@@oe@2-2-2013
22209003@unknown@formal@none@1@S@DPC holds a 7.8% stake in Dataproducts and made a $15-a-share bid for the company in May, but Dataproducts management considered the $283.7 million proposal unacceptable.@@@@1@26@@oe@2-2-2013
22209004@unknown@formal@none@1@S@A DPC spokesman declined to elaborate on the group's new plan.@@@@1@11@@oe@2-2-2013
22209005@unknown@formal@none@1@S@In American Stock Exchange composite trading yesterday, Dataproducts shares jumped 62.5 cents to close at $9.375.@@@@1@16@@oe@2-2-2013
22209006@unknown@formal@none@1@S@Dataproducts, which had been seeking a buyer for several months, announced a restructuring plan in September and took itself off the auction block.@@@@1@23@@oe@2-2-2013
22209007@unknown@formal@none@1@S@The company's restructuring includes plans to split into three sectors, to phase out domestic printer manufacturing operations and to sell its New England subsidiary.@@@@1@24@@oe@2-2-2013
22209008@unknown@formal@none@1@S@As part of the plan, Dataproducts announced a pact to sell $63 million of its real estate holdings to Trizec Properties Inc., a unit of Canada's Trizec Corp.@@@@1@28@@oe@2-2-2013
22209009@unknown@formal@none@1@S@Jack Davis, Dataproducts' president, chairman and chief executive officer, said the company "is at a loss to understand DPC's intentions."@@@@1@20@@oe@2-2-2013
22209010@unknown@formal@none@1@S@He called today's announcement "opportunistic and disruptive" and said the company intends to proceed with its restructuring.@@@@1@17@@oe@2-2-2013
22210001@unknown@formal@none@1@S@Share prices plummeted across Europe yesterday in response to Friday's New York sell-off, but some issues staged a late comeback after Wall Street opened without another rout.@@@@1@27@@oe@2-2-2013
22210002@unknown@formal@none@1@S@European investors have further reason for optimism today, after the U.S. rebound.@@@@1@12@@oe@2-2-2013
22210003@unknown@formal@none@1@S@The Frankfurt Stock Exchange, which closed before the New York exchanges opened, was the hardest hit of the major European markets, with the DAX Index dropping 12.8%.@@@@1@27@@oe@2-2-2013
22210004@unknown@formal@none@1@S@In London, prices plummeted in early trading and were off as much as 9% before coming back strong after the New York opening to close down only 3.2%.@@@@1@28@@oe@2-2-2013
22210005@unknown@formal@none@1@S@West German Economics Minister Helmut Haussmann said, "In my view, the stock market will stabilize relatively quickly.@@@@1@17@@oe@2-2-2013
22210006@unknown@formal@none@1@S@There may be one or other psychological or technical reactions, but they aren't based on fundamentals.@@@@1@16@@oe@2-2-2013
22210007@unknown@formal@none@1@S@The economy of West Germany and the EC {European Community} is highly stable."@@@@1@13@@oe@2-2-2013
22210008@unknown@formal@none@1@S@Paris, which has been the center of speculation fever in recent weeks, also was hard hit.@@@@1@16@@oe@2-2-2013
22210009@unknown@formal@none@1@S@Share prices fell in Milan, Amsterdam, Zurich, Madrid and Stockholm.@@@@1@10@@oe@2-2-2013
22210010@unknown@formal@none@1@S@Prices in Brussels, where a computer breakdown disrupted trading, also tumbled.@@@@1@11@@oe@2-2-2013
22210011@unknown@formal@none@1@S@Following is a breakdown of major market activity:@@@@1@8@@oe@2-2-2013
22210012@unknown@formal@none@1@S@FRANKFURT:@@@@1@1@@oe@2-2-2013
22210013@unknown@formal@none@1@S@One of the sharpest declines came in the financial center of Europe's strongest economy.@@@@1@14@@oe@2-2-2013
22210014@unknown@formal@none@1@S@The DAX Index of 30 West German blue chips plunged 12.8%, a one-day record, wiping out the summer's gains.@@@@1@19@@oe@2-2-2013
22210015@unknown@formal@none@1@S@The index closed at 1385.72, down 203.56 points.@@@@1@8@@oe@2-2-2013
22210016@unknown@formal@none@1@S@By comparison, two years ago on Black Monday, the new index would have dropped 9.4%, according to a projection by the exchange.@@@@1@22@@oe@2-2-2013
22210017@unknown@formal@none@1@S@Investors may have reacted so strongly to Friday's U.S. stock market loss because they had vivid memories of the Frankfurt exchange's losing 35% of its value in the 1987 crash and its wake.@@@@1@33@@oe@2-2-2013
22210018@unknown@formal@none@1@S@This time, however, many small investors may have been hurt by acting so swiftly.@@@@1@14@@oe@2-2-2013
22210019@unknown@formal@none@1@S@"They all went in the wrong direction," said Andreas Insam, an investment adviser for the Bank in Liechtenstein's Frankfurt branch.@@@@1@20@@oe@2-2-2013
22210020@unknown@formal@none@1@S@He said he told clients to buy selected West German blue chips after they fell by about 10%.@@@@1@18@@oe@2-2-2013
22210021@unknown@formal@none@1@S@After the opening was delayed 30 minutes because of the crush of sell orders, Frankfurt's normal two-hour trading session was extended 75 minutes to handle the heavy volume.@@@@1@28@@oe@2-2-2013
22210022@unknown@formal@none@1@S@"The beginning was chaotic," said Nigel Longley, a broker for Commerzbank AG.@@@@1@12@@oe@2-2-2013
22210023@unknown@formal@none@1@S@"It took three-quarters of an hour before enough prices could be worked out to get a reading on the market."@@@@1@20@@oe@2-2-2013
22210024@unknown@formal@none@1@S@Institutional investors and bankers, many of whom spent the night before in their offices watching Far Eastern markets, were cautiously optimistic after the mild 1.8% decline in Tokyo stock prices.@@@@1@30@@oe@2-2-2013
22210025@unknown@formal@none@1@S@"Everybody was still confident, including most institutional investors.@@@@1@8@@oe@2-2-2013
22210026@unknown@formal@none@1@S@That is why everybody was a little surprised by the storm of sell orders from small private investors," said Norbert Braeuer, a senior trader for Hessische Landesbank.@@@@1@27@@oe@2-2-2013
22210027@unknown@formal@none@1@S@Some big institutions, including banks, began picking up lower-priced shares late yesterday, but most investors wanted to see what would happen in New York before acting.@@@@1@26@@oe@2-2-2013
22210028@unknown@formal@none@1@S@But even if Wall Street continues to stabilize, analysts here say the latest blow to investor confidence could inhibit a swift recovery for the Frankfurt exchange, which already was showing signs of weakness after the DAX had slipped from a 1989 high of 1657.61 on Sept. 8.@@@@1@47@@oe@2-2-2013
22210029@unknown@formal@none@1@S@Some of West Germany's bluest chips took some of the biggest hits.@@@@1@12@@oe@2-2-2013
22210030@unknown@formal@none@1@S@A 16.3% drop for Mannesmann AG and Dresdner Bank AG's 9.6% decline were especially problematic for their respective boards, whose plans for major rights issues in November could now be in jeopardy.@@@@1@32@@oe@2-2-2013
22210031@unknown@formal@none@1@S@Dresdner Bank last month said it hoped to raise 1.2 billion marks ($642.2 million) by issuing four million shares at 300 marks each.@@@@1@23@@oe@2-2-2013
22210032@unknown@formal@none@1@S@Yet yesterday's market cropped Dresdner's share price by 33 marks to 309 marks a share, leaving little incentive for investors to subscribe to the standing price unless the market recovers quickly.@@@@1@31@@oe@2-2-2013
22210033@unknown@formal@none@1@S@LONDON:@@@@1@1@@oe@2-2-2013
22210034@unknown@formal@none@1@S@Headed toward a record drop at midday, the London stock market recouped two-thirds of its losses in the wake of New York's early rally.@@@@1@24@@oe@2-2-2013
22210035@unknown@formal@none@1@S@The Financial Times-Stock Exchange 100 Share Index closed off 70.5 points, at 2163.4, its high for the day, after having plunged 204.2 points at 12:49 p.m.@@@@1@26@@oe@2-2-2013
22210036@unknown@formal@none@1@S@It was big institutions such as Norwich Union Insurance Group, Scottish Amicable Investment Managers and Standard Life Assurance Co. that spearheaded the rally.@@@@1@23@@oe@2-2-2013
22210037@unknown@formal@none@1@S@Attracted by low prices and encouraged by New York's performance, they scooped up equities across the board.@@@@1@17@@oe@2-2-2013
22210038@unknown@formal@none@1@S@Volume was 959.3 million shares, more than triple recent levels.@@@@1@10@@oe@2-2-2013
22210039@unknown@formal@none@1@S@PARIS:@@@@1@1@@oe@2-2-2013
22210040@unknown@formal@none@1@S@Late buying gave the Paris Bourse a parachute after its free fall early in the day.@@@@1@16@@oe@2-2-2013
22210041@unknown@formal@none@1@S@The CAC General Index ended down 5.4% at 523.6, a drop of 29.6 points from Friday.@@@@1@16@@oe@2-2-2013
22210042@unknown@formal@none@1@S@"There was a volatility in the market that I have never seen before," said Michel Vigier, a partner in brokerage firm Cholet Dupont.@@@@1@23@@oe@2-2-2013
22210043@unknown@formal@none@1@S@"When Wall Street turned around shortly after the opening, there was panic buying in Paris."@@@@1@15@@oe@2-2-2013
22210044@unknown@formal@none@1@S@Brokers said that as the news spread that Wall Street was moving up, traders who had called to place sell orders changed their line in mid-conversation, ordering buys instead.@@@@1@29@@oe@2-2-2013
22210045@unknown@formal@none@1@S@Trading was driven primarily by small investors and speculators, with large institutions waiting on the sidelines until late in the day.@@@@1@21@@oe@2-2-2013
22210046@unknown@formal@none@1@S@When Wall Street turned, however, the big boys entered the market, looking for bargains.@@@@1@14@@oe@2-2-2013
22211001@unknown@formal@none@1@S@J.P. Morgan & Co. swung to a loss in the third quarter, while NCNB Corp. reported net income more than doubled, and Security Pacific Corp. net rose 10%.@@@@1@28@@oe@2-2-2013
22211002@unknown@formal@none@1@S@J.P. Morgan & Co.@@@@1@4@@oe@2-2-2013
22211003@unknown@formal@none@1@S@J.P. Morgan, as expected, posted a $1.82 billion net loss for the quarter, reflecting the New York bank's decision last month to add $2 billion to reserves for losses on loans to less-developed countries.@@@@1@34@@oe@2-2-2013
22211004@unknown@formal@none@1@S@The reserve addition placed the parent of Morgan Guaranty Trust Co. among a few major U.S. banks that have covered nearly all their medium and long-term portfolios to less-developed countries with reserves.@@@@1@32@@oe@2-2-2013
22211005@unknown@formal@none@1@S@The latest quarter's loss equals $9.92 a share.@@@@1@8@@oe@2-2-2013
22211006@unknown@formal@none@1@S@In the year-earlier quarter, Morgan earned $233.6 million, or $1.25 a share.@@@@1@12@@oe@2-2-2013
22211007@unknown@formal@none@1@S@George M. Salem, analyst at Prudential-Bache Securities Inc., called the results "mildly disappointing."@@@@1@13@@oe@2-2-2013
22211008@unknown@formal@none@1@S@Excluding the $2 billion provision and allowing for the taxes Morgan paid, earnings were about 65 cents a share, Mr. Salem said.@@@@1@22@@oe@2-2-2013
22211009@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Morgan climbed $1.50 a share to $44.125.@@@@1@15@@oe@2-2-2013
22211010@unknown@formal@none@1@S@Net interest income sank 27% in the quarter to $254 million from $347 million.@@@@1@14@@oe@2-2-2013
22211011@unknown@formal@none@1@S@The interest rate on short-term funds, which banks borrow to finance longer-term loans to customers, was "sharply higher," Morgan said.@@@@1@20@@oe@2-2-2013
22211012@unknown@formal@none@1@S@Morgan received $2 million of interest payments on its medium and long-term Brazilian loans; had they been accruing interest, net interest income would have been $35 million higher in the quarter, Morgan said.@@@@1@33@@oe@2-2-2013
22211013@unknown@formal@none@1@S@Such loans to Argentina also remain classified as non-accruing, costing the bank $10 million of interest income in the third period.@@@@1@21@@oe@2-2-2013
22211014@unknown@formal@none@1@S@Income from sources other than interest climbed 12% to $414 million, reflecting higher corporate-finance and other fees and gains on sales of investment securities.@@@@1@24@@oe@2-2-2013
22211015@unknown@formal@none@1@S@"These increases were partly offset by lower trading-related" income, the bank said.@@@@1@12@@oe@2-2-2013
22211016@unknown@formal@none@1@S@Non-interest expenses grew 16% to $496 million.@@@@1@7@@oe@2-2-2013
22211017@unknown@formal@none@1@S@NCNB Corp.@@@@1@2@@oe@2-2-2013
22211018@unknown@formal@none@1@S@NCNB Corp.'s net income more than doubled in the period, largely because of continued strong performance by the bank's Texas operations.@@@@1@21@@oe@2-2-2013
22211019@unknown@formal@none@1@S@The Charlotte, N.C., company said earnings rose to $143.6 million, or $1.45 a share, from $58.9 million, or 69 cents a share, a year earlier.@@@@1@25@@oe@2-2-2013
22211020@unknown@formal@none@1@S@The latest quarter included a gain of $56.1 million, or 59 cents a share, related to the purchase of the remaining 51% of NCNB Texas National Bank from the Federal Deposit Insurance Corp.@@@@1@33@@oe@2-2-2013
22211021@unknown@formal@none@1@S@The strong performance, however, contrasted with an unexpectedly large increase in the size of NCNB's problem loans, particularly in the Southeast.@@@@1@21@@oe@2-2-2013
22211022@unknown@formal@none@1@S@In the third quarter, nonperforming assets jumped to $474.1 million, or 1.43% of net loans and leases, from $232.8 million, or 1.13% in the second quarter.@@@@1@26@@oe@2-2-2013
22211023@unknown@formal@none@1@S@Nonperformers totaled $230.8 million, or 1.27% in the year-ago third quarter.@@@@1@11@@oe@2-2-2013
22211024@unknown@formal@none@1@S@Included in the increase in the most recent quarter is a $33 million loan, which NCNB said it "expects to be fully repaid, with no loss, early in the fourth quarter."@@@@1@31@@oe@2-2-2013
22211025@unknown@formal@none@1@S@The deterioration in credit quality offset strong loan growth of 17% in NCNB's Southeast operations, as well as a 28% growth in deposits resulting from an aggressive marketing campaign.@@@@1@29@@oe@2-2-2013
22211026@unknown@formal@none@1@S@The higher rates paid on deposits also helped squeeze NCNB's net interest margin in the Southeast to 3.38% from 3.80% a year earlier.@@@@1@23@@oe@2-2-2013
22211027@unknown@formal@none@1@S@In Big Board composite trading yesterday, NCNB jumped $3.50 a share, to $51.@@@@1@13@@oe@2-2-2013
22211028@unknown@formal@none@1@S@Results were released after the market closed.@@@@1@7@@oe@2-2-2013
22211029@unknown@formal@none@1@S@NCNB Texas National, formed from the remnants of of the failed First RepublicBank Corp. of Dallas, contributed $76.9 million to NCNB's bottom line in the third quarter.@@@@1@27@@oe@2-2-2013
22211030@unknown@formal@none@1@S@NCNB said its third-quarter results reflect 100% of earnings of the Texas operation since Aug. 1.@@@@1@16@@oe@2-2-2013
22211031@unknown@formal@none@1@S@NCNB raised some $1.9 billion in new capital during the quarter to complete the NCNB Texas purchase, and to acquire several small failed thrifts to fill out its regional franchise.@@@@1@30@@oe@2-2-2013
22211032@unknown@formal@none@1@S@Last week, the banking company said it purchased both Freedom Savings & Loan Association, Tampa, Fla., and University Federal Savings Association of San Antonio, Texas, for $169.4 million.@@@@1@28@@oe@2-2-2013
22211033@unknown@formal@none@1@S@In the first nine months, NCNB's net income climbed 65% to $310.9 million, or $3.30 a share, from $188.2 million, or $2.22 a share, a year earlier.@@@@1@27@@oe@2-2-2013
22211034@unknown@formal@none@1@S@Security Pacific Corp.@@@@1@3@@oe@2-2-2013
22211035@unknown@formal@none@1@S@Security Pacific's earnings growth slowed in the third quarter, but the Los Angeles bank holding company was still able to post a 10% increase in net income because of robust growth in residential real-estate and consumer loans.@@@@1@37@@oe@2-2-2013
22211036@unknown@formal@none@1@S@Net rose to $185.1 million, or $1.55 a share, from $167.9 million, or $1.47 a share, a year earlier.@@@@1@19@@oe@2-2-2013
22211037@unknown@formal@none@1@S@The company said the gain resulted mainly from a $54 million increase in net interest income, reflecting a 33% increase in real estate loans (mainly residential), and a 19% rise in consumer loans.@@@@1@33@@oe@2-2-2013
22211038@unknown@formal@none@1@S@These high-yielding loans in effect replaced some low-yielding assets such as inter-bank loans, which were allowed to decrease.@@@@1@18@@oe@2-2-2013
22211039@unknown@formal@none@1@S@As a result, Security Pacific's net interest margin fell only 13 basis points, a more mild decrease than some major banks outside California, which have been reporting more sluggish earnings.@@@@1@30@@oe@2-2-2013
22211040@unknown@formal@none@1@S@Security Pacific shares closed at $44.625, down 37.5 cents, in Big Board composite trading.@@@@1@14@@oe@2-2-2013
22211041@unknown@formal@none@1@S@The earnings represent a 0.89% return on assets for Security Pacific, and an 18.9% return on equity.@@@@1@17@@oe@2-2-2013
22211042@unknown@formal@none@1@S@The loan growth offset continuing real-estate loan losses in the depressed Arizona market.@@@@1@13@@oe@2-2-2013
22211043@unknown@formal@none@1@S@Security Pacific reported a 33% increase in net credit losses for the quarter, to $109 million from $81.9 million in the year-ago period.@@@@1@23@@oe@2-2-2013
22211044@unknown@formal@none@1@S@Nonperforming loans grew slightly to $1.75 billion at Sept. 30, from $1.7 billion a year ago.@@@@1@16@@oe@2-2-2013
22211045@unknown@formal@none@1@S@Security Pacific's loan-loss provision was down 22%, or $30.4 million, because it added to its foreign-debt reserve the year before.@@@@1@20@@oe@2-2-2013
22211046@unknown@formal@none@1@S@Non-interest income fell 6% in the quarter, mainly because of an unusual gain a year earlier from the sale of Hong Kong banking operations.@@@@1@24@@oe@2-2-2013
22211047@unknown@formal@none@1@S@Non-interest expense grew only 4% in the period.@@@@1@8@@oe@2-2-2013
22211048@unknown@formal@none@1@S@For the nine months, net rose 17% to $548.9 million, or $4.67 a share, from $469.4 million, or $4.13 a share, a year earlier.@@@@1@24@@oe@2-2-2013
22212001@unknown@formal@none@1@S@LIN Broadcasting Corp. said it won't take a position on a revised tender offer by McCaw Cellular Communications Inc. to buy LIN and has asked for clarification of the offer.@@@@1@30@@oe@2-2-2013
22212002@unknown@formal@none@1@S@The new offer, which seeks 50.3% of the cellular and broadcasting concern, is for $125 a share for 22 million LIN shares.@@@@1@22@@oe@2-2-2013
22212003@unknown@formal@none@1@S@McCaw's revised tender offer would require McCaw to begin an auction process in July 1994 that would buy out remaining holders at a per-share price roughly equivalent to what a third party might then have to pay for all of LIN.@@@@1@41@@oe@2-2-2013
22212004@unknown@formal@none@1@S@LIN is asking McCaw to clarify its tender offer, which challenges an agreement between BellSouth Corp. and LIN to merge their cellular-telephone businesses.@@@@1@23@@oe@2-2-2013
22212005@unknown@formal@none@1@S@BellSouth has notified LIN that it would "shortly respond to the McCaw proposal in as full and effective a manner as is warranted."@@@@1@23@@oe@2-2-2013
22212006@unknown@formal@none@1@S@The LIN board said holders may be misled by the provision in the McCaw proposal that "guarantees" private market value after five years for the remaining shares.@@@@1@27@@oe@2-2-2013
22212007@unknown@formal@none@1@S@McCaw has "no obligation to purchase and the definition of private market value is uncertain," the LIN board said.@@@@1@19@@oe@2-2-2013
22212008@unknown@formal@none@1@S@The board added that McCaw would be able to control LIN's operations and could, "therefore, operate LIN in a manner which could diminish its private market value and attractiveness to a third-party purchaser in five years."@@@@1@36@@oe@2-2-2013
22212009@unknown@formal@none@1@S@In national over-the-counter trading, LIN closed at $104.75, down $2.75.@@@@1@10@@oe@2-2-2013
22213001@unknown@formal@none@1@S@A group of institutional investors in Telerate Inc. said that Dow Jones & Co.'s $18-a-share offer for the electronic financial information services company is "grossly inadequate."@@@@1@26@@oe@2-2-2013
22213002@unknown@formal@none@1@S@In a letter filed with the Securities and Exchange Commission, the group, which holds about 4.5 million Telerate shares, or about 4.7% of the shares outstanding, said " . . . at present none of us believes an offer for less than $25 per share would be fair and some believe that $25 is too low."@@@@1@56@@oe@2-2-2013
22213003@unknown@formal@none@1@S@The letter was dated Oct. 6.@@@@1@6@@oe@2-2-2013
22213004@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, Telerate shares closed yesterday at $18.875, down 75 cents a share.@@@@1@20@@oe@2-2-2013
22213005@unknown@formal@none@1@S@Dow Jones, publisher of The Wall Street Journal, has launched an $18-a-share, or $576 million, tender offer to acquire the remaining Telerate shares outstanding; Dow Jones owns 67% of Telerate.@@@@1@30@@oe@2-2-2013
22213006@unknown@formal@none@1@S@Telerate has rejected the offer, which expires Nov. 3.@@@@1@9@@oe@2-2-2013
22213007@unknown@formal@none@1@S@The group includes Putnam Cos. and various affiliates based in Boston; Wells Fargo Bank, San Francisco; the California Public Employees Retirement System, Sacramento, Calif., and T. Rowe Price Associates Inc., Baltimore.@@@@1@31@@oe@2-2-2013
22213008@unknown@formal@none@1@S@Among other issues, the group's letter said it has "concerns as to whether Dow Jones's offer meets the applicable requirements of procedural fairness."@@@@1@23@@oe@2-2-2013
22213009@unknown@formal@none@1@S@A spokesman for Dow Jones said he hadn't seen the group's filing, but added, "obviously Dow Jones disagrees with their conclusions.@@@@1@21@@oe@2-2-2013
22213010@unknown@formal@none@1@S@Our offer is to buy any and all shares tendered at $18 a share.@@@@1@14@@oe@2-2-2013
22214001@unknown@formal@none@1@S@U.S. Trade Representative Carla Hills said the first dispute-settlement panel set up under the U.S.-Canadian "free trade" agreement has ruled that Canada's restrictions on exports of Pacific salmon and herring violate the accord.@@@@1@33@@oe@2-2-2013
22214002@unknown@formal@none@1@S@Mrs. Hills said the U.S. and Canada have until Nov. 13 to resolve the dispute.@@@@1@15@@oe@2-2-2013
22214003@unknown@formal@none@1@S@If a solution isn't reached by then, she said, the U.S. would have the right to suspend some trade concessions to Canada equivalent in value to the losses suffered by U.S. fish-processing companies in Alaska and the Pacific Northwest.@@@@1@39@@oe@2-2-2013
22214004@unknown@formal@none@1@S@However, in Ottawa, Canadian Trade Minister John Crosbie said the dispute-settlement panel accepted the "legitimacy of Canada's position on the use of these landing requirements to conserve and manage these important fisheries."@@@@1@32@@oe@2-2-2013
22214005@unknown@formal@none@1@S@Questioned about the seeming contradiction in the U.S. and Canadian government views of the panel's report, an aide for Mrs. Hills said the panel had clearly ruled that the Canadian trade restrictions "are illegal."@@@@1@34@@oe@2-2-2013
22214006@unknown@formal@none@1@S@The U.S. trade representative declined to put a dollar estimate on the losses resulting from the Canadian export restrictions.@@@@1@19@@oe@2-2-2013
22214007@unknown@formal@none@1@S@Canada initially had an export prohibition that was replaced by regulations requiring that such fish had to be brought ashore in British Columbia by commercial fishermen prior to export.@@@@1@29@@oe@2-2-2013
22214008@unknown@formal@none@1@S@This action was defended by the Canadian government on conservation grounds.@@@@1@11@@oe@2-2-2013
22214009@unknown@formal@none@1@S@Mrs. Hills said yesterday that the dispute-settlement panel rejected this Canadian government argument.@@@@1@13@@oe@2-2-2013
22214010@unknown@formal@none@1@S@"We fully expect that Canada will comply with the panel's ruling" that the "landing requirement" also must be ended, she said.@@@@1@21@@oe@2-2-2013
22214011@unknown@formal@none@1@S@Earlier, an international panel set up under the rules of the General Agreement on Tariffs and Trade in Geneva determined that the original Canadian fish-export restrictions violated GATT rules.@@@@1@29@@oe@2-2-2013
22214012@unknown@formal@none@1@S@Mrs. Hills said the U.S. won't accept any delays after Nov. 13 because U.S. fish-processing firms enter into contracts in the fall to purchase the next season's catch.@@@@1@28@@oe@2-2-2013
22214013@unknown@formal@none@1@S@She said the Canadian restrictions must be removed before such contracts are concluded.@@@@1@13@@oe@2-2-2013
22215001@unknown@formal@none@1@S@Idle Thought@@@@1@2@@oe@2-2-2013
22215002@unknown@formal@none@1@S@To spend a carefree, idle day, When duty calls, to pay no heed, To while the precious hours away -- Character is what you need.@@@@1@25@@oe@2-2-2013
22215003@unknown@formal@none@1@S@-- May Richstone.@@@@1@3@@oe@2-2-2013
22215004@unknown@formal@none@1@S@Telecussed@@@@1@1@@oe@2-2-2013
22215005@unknown@formal@none@1@S@The guy who throws an intercept 'Cause his receiver slips Should somehow be advised that we At home can read his lips.@@@@1@22@@oe@2-2-2013
22215006@unknown@formal@none@1@S@-- Dick Emmons.@@@@1@3@@oe@2-2-2013
22216001@unknown@formal@none@1@S@BancOklahoma Corp. said it completed a restructuring agreement previously agreed to by the Federal Deposit Insurance Corp., creditor banks and subordinated debenture holders.@@@@1@23@@oe@2-2-2013
22216002@unknown@formal@none@1@S@The plan would permit the bank holding company to retire its bank and debenture obligations through exchanges of cash and equity.@@@@1@21@@oe@2-2-2013
22216003@unknown@formal@none@1@S@The FDIC, which in 1986 provided $130 million in open-bank assistance to BancOklahoma's Bank of Oklahoma, Tulsa, unit will continue to maintain $90 million in preferred stock in the Tulsa bank unit.@@@@1@32@@oe@2-2-2013
22216004@unknown@formal@none@1@S@In exchange for the other $40 million, the FDIC will receive additional warrants entitling it to buy 60% of BancOklahoma's common stock outstanding, up from the 55% option the FDIC received under terms of the 1986 capital infusion.@@@@1@38@@oe@2-2-2013
22216005@unknown@formal@none@1@S@In exchange for the $76 million they are owed, creditor banks will receive 3.9 million shares of BancOklahoma common stock and the proceeds from the future sales of four subsidiary banks to private buyers, the bank holding company said.@@@@1@39@@oe@2-2-2013
22216006@unknown@formal@none@1@S@Also under the agreement, debenture holders will get one million shares of common stock in exchange for $7.7 million in debentures and holders of BancOklahoma's series A preferred stock will receive 1.25 shares of common stock for every share of preferred they own, the company said.@@@@1@46@@oe@2-2-2013
22217001@unknown@formal@none@1@S@Bear Stearns's chief economist, Lawrence Kudlow, in the Sept. 29 issue of the firm's Global Spectator:@@@@1@16@@oe@2-2-2013
22217002@unknown@formal@none@1@S@Were it true that a weak currency paves the way for trade surpluses, then presumably Argentina would be the center of today's global economy.@@@@1@24@@oe@2-2-2013
22218001@unknown@formal@none@1@S@BSN Corp. said it will begin an offer tomorrow to exchange up to one million of its common shares and all of its $16.6 million in 7 3/4% convertible debentures due 2001 for a package of new debt and common stock warrants.@@@@1@42@@oe@2-2-2013
22218002@unknown@formal@none@1@S@Under terms of the offer, the sporting goods maker will swap $9 face amount of 9 1/4% subordinated notes due 1996 and one warrant for each common share.@@@@1@28@@oe@2-2-2013
22218003@unknown@formal@none@1@S@Each warrant allows the holder to buy one BSN share for $10.75 a share at any time over the next seven years.@@@@1@22@@oe@2-2-2013
22218004@unknown@formal@none@1@S@BSN currently has 4.6 million common shares outstanding.@@@@1@8@@oe@2-2-2013
22218005@unknown@formal@none@1@S@BSN also is offering $850 face amount of new notes and 64 common-stock warrants for each $1,000 face amount of its convertible debt outstanding.@@@@1@24@@oe@2-2-2013
22218006@unknown@formal@none@1@S@The company said it can redeem the warrants at its option for $1 each.@@@@1@14@@oe@2-2-2013
22218007@unknown@formal@none@1@S@The offer isn't contingent on a certain amount of debt or stock being exchanged.@@@@1@14@@oe@2-2-2013
22218008@unknown@formal@none@1@S@BSN said it is making the offer to shrink its capital and increase shareholder value.@@@@1@15@@oe@2-2-2013
22218009@unknown@formal@none@1@S@If all the bondholders and holders of one million common shares accept the offer, BSN will increase its debt by $9 million, but it also will recognize a $2 million gain from retiring the old debt, said Michael J. Blumenfeld, president.@@@@1@41@@oe@2-2-2013
22218010@unknown@formal@none@1@S@"We have sufficient cash flow to handle that," he said.@@@@1@10@@oe@2-2-2013
22218011@unknown@formal@none@1@S@The offers are scheduled to expire in mid to late November.@@@@1@11@@oe@2-2-2013
22219001@unknown@formal@none@1@S@Merrill Lynch & Co.'s net income dropped 37%, while Bear Stearns Cos. posted a 7.5% gain in net, and PaineWebber Group Inc.'s profit fell, but would have risen without a special gain a year ago.@@@@1@35@@oe@2-2-2013
22219002@unknown@formal@none@1@S@At Merrill Lynch, third-period net was $41 million, or 34 cents a share, down from $65.6 million, or 58 cents a share, a year ago.@@@@1@25@@oe@2-2-2013
22219003@unknown@formal@none@1@S@Total revenue reached $2.83 billion, up 10% from $2.57 billion.@@@@1@10@@oe@2-2-2013
22219004@unknown@formal@none@1@S@The firm's drop in net reflected weaker revenue in transactions for its own account -- a decline of 19% to $314.6 million on reduced revenue from trading fixed-income securities.@@@@1@29@@oe@2-2-2013
22219005@unknown@formal@none@1@S@Investment banking revenue fell 22% to $296.6 million on fewer equity and municipal underwritings.@@@@1@14@@oe@2-2-2013
22219006@unknown@formal@none@1@S@Merrill Lynch's commission revenue grew 21%, however, to $462.8 million, on higher share prices and volume and on strong sales of mutual funds.@@@@1@23@@oe@2-2-2013
22219007@unknown@formal@none@1@S@Revenue derived from interest and dividends jumped 30% to $1.4 billion.@@@@1@11@@oe@2-2-2013
22219008@unknown@formal@none@1@S@Asset-management fee revenue grew 12% to $151 million.@@@@1@8@@oe@2-2-2013
22219009@unknown@formal@none@1@S@The brokerage also reported a loss of $2.2 million from the discontinued operations and disposal of its Fine Homes International Limited Partnership real-estate subsidiary.@@@@1@24@@oe@2-2-2013
22219010@unknown@formal@none@1@S@Bear Stearns said net in the first quarter ended Sept. 29 reached $22.1 million, or 23 cents a share, from $20.5 million, or 20 cents a share, in the year-earlier quarter.@@@@1@31@@oe@2-2-2013
22219011@unknown@formal@none@1@S@Gross revenue rose 21% to $580.4 million from $478.9 million.@@@@1@10@@oe@2-2-2013
22219012@unknown@formal@none@1@S@Profit from trading for its own account dropped, the securities firm said.@@@@1@12@@oe@2-2-2013
22219013@unknown@formal@none@1@S@Investment banking revenue climbed 25%, while commission revenue advanced 31% on a stronger retail market.@@@@1@15@@oe@2-2-2013
22219014@unknown@formal@none@1@S@Bear Stearns is the holding company for Bear, Stearns & Co., the investment banking and brokerage firm.@@@@1@17@@oe@2-2-2013
22219015@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Bear Stearns shares closed at $13.625, down 25 cents.@@@@1@17@@oe@2-2-2013
22219016@unknown@formal@none@1@S@Separately, PaineWebber posted net income for the third quarter of $16.8 million, or 41 cents a share, reflecting a "broad-based improvement" in the company's core businesses.@@@@1@26@@oe@2-2-2013
22219017@unknown@formal@none@1@S@Retail profit surged, but the company said it was only a "modest contributor" to third-quarter results.@@@@1@16@@oe@2-2-2013
22219018@unknown@formal@none@1@S@A year ago, net at the New York investment banking firm was $20.9 million, or 50 cents a share, including a special pretax gain of $46.3 million from the sale of the company's interest in National Car Rental Systems Inc.@@@@1@40@@oe@2-2-2013
22219019@unknown@formal@none@1@S@Revenue was $444.9 million, including net interest, down slightly from $450.7 million.@@@@1@12@@oe@2-2-2013
22219020@unknown@formal@none@1@S@In Big Board composite trading yesterday, PaineWebber closed at $18.50, up 75 cents.@@@@1@13@@oe@2-2-2013
22220001@unknown@formal@none@1@S@Seafirst Corp. said it signed an agreement with builder Martin Selig to purchase its headquarters building, the Columbia Seafirst Center, for $354 million.@@@@1@23@@oe@2-2-2013
22220002@unknown@formal@none@1@S@Purchase of the 76-story structure is subject to execution of a definitive agreement, approval by the boards of Seafirst and its parent company BankAmerica Corp., and approval by regulators.@@@@1@29@@oe@2-2-2013
22221001@unknown@formal@none@1@S@The market upheaval apparently hasn't triggered any cash crunch -- yet.@@@@1@11@@oe@2-2-2013
22221002@unknown@formal@none@1@S@Individual investors, investment firms and arbitragers who speculate in the stocks of takeover candidates can suffer liquidity and payment problems when stocks dive; those investors often borrow heavily to buy their holdings and use the stocks as collateral for loans.@@@@1@40@@oe@2-2-2013
22221003@unknown@formal@none@1@S@But several large banks said yesterday they detected no signs of unusual demand for credit that would signal such difficulties.@@@@1@20@@oe@2-2-2013
22221004@unknown@formal@none@1@S@"We're seeing nothing out of the ordinary," said one official at a Top 10 bank.@@@@1@15@@oe@2-2-2013
22221005@unknown@formal@none@1@S@"That's good news, because we all swim in this water."@@@@1@10@@oe@2-2-2013
22221006@unknown@formal@none@1@S@Added another executive at a big bank: "We were all a little goosey over the weekend trying to forecast what would happen {Monday}, but it's been very quiet.@@@@1@28@@oe@2-2-2013
22221007@unknown@formal@none@1@S@Now, as for tomorrow, hell, who knows?@@@@1@7@@oe@2-2-2013
22222001@unknown@formal@none@1@S@What happened Friday shows that financial markets are not yet sufficiently coordinated to handle another meltdown in prices.@@@@1@18@@oe@2-2-2013
22222002@unknown@formal@none@1@S@No fiddling with systems and procedures will ever prevent markets from suffering a panic wave of selling.@@@@1@17@@oe@2-2-2013
22222003@unknown@formal@none@1@S@But markets can operate with greater or lesser efficiency.@@@@1@9@@oe@2-2-2013
22222004@unknown@formal@none@1@S@After the 1987 plunge, markets agreed that it would be wise to halt trading whenever panic conditions arose.@@@@1@18@@oe@2-2-2013
22222005@unknown@formal@none@1@S@The New York Stock Exchange adopted two specific circuit breakers: If the Dow Jones index falls 250 points in a day, the exchange will halt trading for one hour; if the decline hits 400 points, the exchange will close for an additional two hours.@@@@1@44@@oe@2-2-2013
22222006@unknown@formal@none@1@S@The rationale is that an interruption of trading will allow investors to reconsider their strategies, calm sellers and lead buyers to enter the market at indicated new price levels.@@@@1@29@@oe@2-2-2013
22222007@unknown@formal@none@1@S@It is impossible to know whether that theory is realistic.@@@@1@10@@oe@2-2-2013
22222008@unknown@formal@none@1@S@A temporary cessation of trading may indeed discourage a selling panic from feeding on itself.@@@@1@15@@oe@2-2-2013
22222009@unknown@formal@none@1@S@But there is also the possibility that shutting down markets will intensify fears and cause an even more abrupt slide in prices.@@@@1@22@@oe@2-2-2013
22222010@unknown@formal@none@1@S@What happened Friday was the worst of all worlds.@@@@1@9@@oe@2-2-2013
22222011@unknown@formal@none@1@S@The futures exchanges followed their own pre-set circuit breakers and shut down at about 3 p.m. for 30 minutes, after the Standard & Poor's 500 stock index had fallen 12 points, or about 100 points on the Dow Jones index.@@@@1@40@@oe@2-2-2013
22222012@unknown@formal@none@1@S@Options markets stopped trading in many securities.@@@@1@7@@oe@2-2-2013
22222013@unknown@formal@none@1@S@The New York Stock Exchange, under its own rules, remained open.@@@@1@11@@oe@2-2-2013
22222014@unknown@formal@none@1@S@With nowhere else to go, sellers, and particularly program traders, focused all their selling on the New York Stock Exchange.@@@@1@20@@oe@2-2-2013
22222015@unknown@formal@none@1@S@As liquidity on that market weakened, prices fell sharply.@@@@1@9@@oe@2-2-2013
22222016@unknown@formal@none@1@S@Had the futures and options markets been open, additional liquidity would have been provided and the decline, most probably, would have been less intense.@@@@1@24@@oe@2-2-2013
22222017@unknown@formal@none@1@S@At 3:30, after intense telephone negotiations between the trading markets and Washington, the futures exchanges reopened.@@@@1@16@@oe@2-2-2013
22222018@unknown@formal@none@1@S@Futures trading, however, was halted altogether at 3:45, after the futures markets had dropped an additional 30 points, which is the daily limit for price declines.@@@@1@26@@oe@2-2-2013
22222019@unknown@formal@none@1@S@At this point, the options markets also shut down and once more left all sales to be handled by the New York Stock Exchange.@@@@1@24@@oe@2-2-2013
22222020@unknown@formal@none@1@S@It is time to recognize that the New York Stock Exchange, the futures markets and the options markets, though physically separate, have actually become so closely intertwined as to constitute one market effectively.@@@@1@33@@oe@2-2-2013
22222021@unknown@formal@none@1@S@Traders can vary their strategies and execute their orders in any one of them.@@@@1@14@@oe@2-2-2013
22222022@unknown@formal@none@1@S@It therefore makes no sense for each market to adopt different circuit breakers.@@@@1@13@@oe@2-2-2013
22222023@unknown@formal@none@1@S@To achieve maximum liquidity and minimize price volatility, either all markets should be open to trading or none.@@@@1@18@@oe@2-2-2013
22222024@unknown@formal@none@1@S@Synchronized circuit breakers would not have halted the slide in prices on Friday, but they probably would have made for smoother, less volatile executions.@@@@1@24@@oe@2-2-2013
22222025@unknown@formal@none@1@S@It's time for the exchanges and the Securities and Exchange Commission to agree on joint conditions for halting trading or staying open.@@@@1@22@@oe@2-2-2013
22222026@unknown@formal@none@1@S@Let's not have one market shut down for 30 minutes when the Dow declines 100 points and another shut down for an hour after a 250-point decline.@@@@1@27@@oe@2-2-2013
22222027@unknown@formal@none@1@S@The need for hurried last-minute telephone negotiations among market officials will disappear once rules are in place that synchronize circuit breakers in all markets.@@@@1@24@@oe@2-2-2013
22222028@unknown@formal@none@1@S@The new circuit breakers, if they are to be applied at all, will require that futures and options trading continue as long as the New York Stock Exchange remains open.@@@@1@30@@oe@2-2-2013
22222029@unknown@formal@none@1@S@The rules should be established by agreement of the officials of all affected exchanges acting under the oversight and with the approval of the government regulatory agencies.@@@@1@27@@oe@2-2-2013
22222030@unknown@formal@none@1@S@Should the SEC and the Commodities Futures Trading Commission (which, with the SEC, regulates the Chicago stock-index markets) be unable to agree, the issue may have to be resolved by decision of the Treasury secretary.@@@@1@35@@oe@2-2-2013
22222031@unknown@formal@none@1@S@In many ways, our financial markets are better prepared today to handle a decline than they were two years ago.@@@@1@20@@oe@2-2-2013
22222032@unknown@formal@none@1@S@The New York Stock Exchange now has the capacity to handle a volume of nearly a billion shares a day.@@@@1@20@@oe@2-2-2013
22222033@unknown@formal@none@1@S@Telephone service has been improved for customers trying to reach their brokers, and specialists -- who I believe should stay, despite the urgings of some post-crash critics -- have larger capital positions.@@@@1@32@@oe@2-2-2013
22222034@unknown@formal@none@1@S@(Of course, specialists' actions alone can never prevent a major crack in stock prices.@@@@1@14@@oe@2-2-2013
22222035@unknown@formal@none@1@S@Witness the fact that trading in some stocks closed early Friday and opened late Monday because of an excess of sell orders.)@@@@1@22@@oe@2-2-2013
22222036@unknown@formal@none@1@S@But the task of improving market performance remains unfinished.@@@@1@9@@oe@2-2-2013
22222037@unknown@formal@none@1@S@Mr. Freund, former chief economist of the New York Stock Exchange, is a professor of economics at Pace University's business school in New York.@@@@1@24@@oe@2-2-2013
22223001@unknown@formal@none@1@S@A UNIFIED EUROPE poses labor problems and prospects for U.S. firms.@@@@1@11@@oe@2-2-2013
22223002@unknown@formal@none@1@S@The "social dimension" -- worker concerns -- of the European Community's plan to open its internal borders in 1992 could set the effort "off the rails" if not done reasonably, says General Electric senior vice president Frank Doyle.@@@@1@38@@oe@2-2-2013
22223003@unknown@formal@none@1@S@U.S. companies wanting to expand in Europe face "tough pressure" from unions in nations such as West Germany, which play a big consulting role in management decisions, he says.@@@@1@29@@oe@2-2-2013
22223004@unknown@formal@none@1@S@FMC Corp. and Baxter International say unions also won't like plant relocations and needed restructuring, which means layoffs.@@@@1@18@@oe@2-2-2013
22223005@unknown@formal@none@1@S@Many employers have already begun moving to southern countries such as Spain and Italy, where wages are low and unions are weaker; demand for trained labor and managers will rise there, FMC says.@@@@1@33@@oe@2-2-2013
22223006@unknown@formal@none@1@S@Pfizer, Fluor and GE see big "EC 92" pluses: a push for job training and ease in moving and finding workers.@@@@1@21@@oe@2-2-2013
22223007@unknown@formal@none@1@S@CLUBBING A FAN wasn't the Baltimore Orioles' fault.@@@@1@8@@oe@2-2-2013
22223008@unknown@formal@none@1@S@So said a federal judge, in a case involving two players for the minor league Bluefield, Va., Orioles, a Baltimore farm team.@@@@1@22@@oe@2-2-2013
22223009@unknown@formal@none@1@S@The players were heckled by a patron during a July 4, 1988, game with the Martinsville Phillies.@@@@1@17@@oe@2-2-2013
22223010@unknown@formal@none@1@S@Like its parent that year, "Bluefield was not having a good year," the judge said.@@@@1@15@@oe@2-2-2013
22223011@unknown@formal@none@1@S@After the game ("Bluefield lost, 9-8, stranding three runners in . . . the ninth," he noted), trouble began.@@@@1@19@@oe@2-2-2013
22223012@unknown@formal@none@1@S@More taunting in the parking lot, the players said, led to a fight.@@@@1@13@@oe@2-2-2013
22223013@unknown@formal@none@1@S@The fan said he was punched and kicked by one player and that the other broke his jaw with a baseball bat.@@@@1@22@@oe@2-2-2013
22223014@unknown@formal@none@1@S@The judge dismissed the fan's suit against the team, however, ruling the Orioles innocent of negligent hiring, and not responsible for a fight that was outside the players' employment.@@@@1@29@@oe@2-2-2013
22223015@unknown@formal@none@1@S@PROPOSALS ARISE for coping with the shortage of nurses.@@@@1@9@@oe@2-2-2013
22223016@unknown@formal@none@1@S@An Association of Academic Health Centers report urges freeing nurses from duties that don't require special skills.@@@@1@17@@oe@2-2-2013
22223017@unknown@formal@none@1@S@It also recommends better retirement and day-care benefits, and basing pay on education, experience and nurses' demanding work schedules.@@@@1@19@@oe@2-2-2013
22223018@unknown@formal@none@1@S@But it opposes an American Medical Association proposal for creating a "registered care technologist," as "potentially divisive"; it says the job would entail an unwanted new doctor's "bedside" extension.@@@@1@29@@oe@2-2-2013
22223019@unknown@formal@none@1@S@Over a third of 618 hospitals surveyed by consultant Hewitt Associates use a "clinical ladder," basing advancement on performance and education.@@@@1@21@@oe@2-2-2013
22223020@unknown@formal@none@1@S@Many also use recruiting bonuses, tuition reimbursement, loan repayment or child-care help.@@@@1@12@@oe@2-2-2013
22223021@unknown@formal@none@1@S@Some give lump-sum incentives.@@@@1@4@@oe@2-2-2013
22223022@unknown@formal@none@1@S@MRA Staffing Systems signs up nurses for paid travel, promising annual income up to $50,000 and free or subsidized housing.@@@@1@20@@oe@2-2-2013
22223023@unknown@formal@none@1@S@TREATING EMPLOYEES with respect is crucial for managers, says consultant Hay Group after surveys of a million workers.@@@@1@18@@oe@2-2-2013
22223024@unknown@formal@none@1@S@It's in their top five "work values."@@@@1@7@@oe@2-2-2013
22223025@unknown@formal@none@1@S@Fully 80% of employees who say their bosses treat them with respect, but only a third of those who don't feel respected say they're satisfied with where they work.@@@@1@29@@oe@2-2-2013
22223026@unknown@formal@none@1@S@SPRUCING UP THE DIGS: About 200 employees of the Maryland Department of Economic and Employment Development for four months painted walls, polished and carpeted floors, bought plants, cleaned windows and blinds, and hung pictures at the agency's Baltimore office.@@@@1@39@@oe@2-2-2013
22223027@unknown@formal@none@1@S@The 3,000 hours of work will save the state $55,000.@@@@1@10@@oe@2-2-2013
22223028@unknown@formal@none@1@S@CURBING WAGE BOOSTS will get high priority again in 1990 collective bargaining, a Bureau of National Affairs survey of 250 companies with pacts expiring next year indicates.@@@@1@27@@oe@2-2-2013
22223029@unknown@formal@none@1@S@Despite labor-shortage warnings, 80% aim for first-year wage increases of under 4%; and 77% say they'd try to replace workers, if struck, or would consider it.@@@@1@26@@oe@2-2-2013
22223030@unknown@formal@none@1@S@TEMPORARY WORKERS have good educations, the National Association of Temporary Services says; its survey of 2,508 such employees shows 82% with more than a high-school education, and 31% with college degrees.@@@@1@31@@oe@2-2-2013
22223031@unknown@formal@none@1@S@About 12% have retired from a full-time job, while 54% were asked to stay on full time.@@@@1@17@@oe@2-2-2013
22223032@unknown@formal@none@1@S@HOME-SALE LOSSES rise, but they're often covered by employers.@@@@1@9@@oe@2-2-2013
22223033@unknown@formal@none@1@S@But they search for ways to limit the damage.@@@@1@9@@oe@2-2-2013
22223034@unknown@formal@none@1@S@A third of 439 companies surveyed by the Employee Relocation Council report a rise in 1988 sales losses over 1987.@@@@1@20@@oe@2-2-2013
22223035@unknown@formal@none@1@S@About 72% reimburse for all or some losses.@@@@1@8@@oe@2-2-2013
22223036@unknown@formal@none@1@S@Since 1984, more companies give sales-loss aid, as many real-estate values depreciated, the council says.@@@@1@15@@oe@2-2-2013
22223037@unknown@formal@none@1@S@RJR Nabisco pays up to $30,000 of losses, including improvements.@@@@1@10@@oe@2-2-2013
22223038@unknown@formal@none@1@S@Goodrich won't ensure loss coverage, but will prevent a "catastrophic loss"; it has given some employees the full purchase price when values fell from concern over dangers posed by a disposal site.@@@@1@32@@oe@2-2-2013
22223039@unknown@formal@none@1@S@Federal Express, Dow Chemical, Ford and National City Corp. will buy the home or let the worker sell to an outside firm, but usually won't cover a loss.@@@@1@28@@oe@2-2-2013
22223040@unknown@formal@none@1@S@Since 1984, firms offering prepurchase house appraisals, to deter overpaying, rose to 40% of those the council polled, from 28%.@@@@1@20@@oe@2-2-2013
22223041@unknown@formal@none@1@S@THE CHECKOFF: The National Academy of Engineering gives two inventors of the semiconductor microchip a $350,000 achievement award. . . .@@@@1@21@@oe@2-2-2013
22223042@unknown@formal@none@1@S@Now, that's reactionary: Letter Carriers union president Vincent Sombrotto accuses Philadelphia postmaster Charles James of "12th century . . . oppressive management tactics.@@@@1@23@@oe@2-2-2013
22224001@unknown@formal@none@1@S@Yesterday was, in the words of New York Stock Exchange Chairman John J. Phelan Jr., just your "reasonably normal, 400 million-share, up 88-points day."@@@@1@24@@oe@2-2-2013
22224002@unknown@formal@none@1@S@When it was all over and stocks had staged a huge recovery, Big Board officials were self-congratulatory about how well the day had gone.@@@@1@24@@oe@2-2-2013
22224003@unknown@formal@none@1@S@They said the exchange's trading procedures, personnel, equipment and links with other exchanges couldn't have performed better.@@@@1@17@@oe@2-2-2013
22224004@unknown@formal@none@1@S@"We had no operating problems at all," Mr. Phelan said after the market closed.@@@@1@14@@oe@2-2-2013
22224005@unknown@formal@none@1@S@"All the things that we set up to slow down the process, to let people know that the market was in an extreme position, worked extremely well."@@@@1@27@@oe@2-2-2013
22224006@unknown@formal@none@1@S@Prices for the 416.3 million shares that changed hands during the session were carried on the exchange's trading tape with barely a delay, officials said.@@@@1@25@@oe@2-2-2013
22224007@unknown@formal@none@1@S@While reaching blockbuster proportions yesterday, the volume was still well within the 600 million-share capacity that the exchange has said it can handle daily since beefing up its computers after the October 1987 crash.@@@@1@34@@oe@2-2-2013
22224008@unknown@formal@none@1@S@The so-called circuit breakers devised by the Big Board and the Chicago Mercantile Exchange to quell free falls in stock and futures prices weren't triggered yesterday because the markets were higher for most of the day.@@@@1@36@@oe@2-2-2013
22224009@unknown@formal@none@1@S@Despite traders' complaints, Mr. Phelan said the links with the Chicago futures market worked as planned in Friday's rout to provide a cooling-off period.@@@@1@24@@oe@2-2-2013
22224010@unknown@formal@none@1@S@Of greater help, the Big Board chairman said, was the "natural circuit breaker" of the weekend, that provided a breathing period that "brought rationality back to the market.@@@@1@28@@oe@2-2-2013
22225001@unknown@formal@none@1@S@Chicken Chains Ruffled By Loss of Customers@@@@1@7@@oe@2-2-2013
22225002@unknown@formal@none@1@S@FAST-FOOD chicken chains, faced with a worsening business slump, are struggling to hatch some new marketing strategies.@@@@1@17@@oe@2-2-2013
22225003@unknown@formal@none@1@S@The Crest Report, which tracks consumer purchases, says customer traffic at chicken restaurants fell 10% in the second quarter, while the overall fast-food customer count was down 2%.@@@@1@28@@oe@2-2-2013
22225004@unknown@formal@none@1@S@Chicken business is off largely because of more competition from grocery-store convenience food, home-delivered pizza and other takeout fare, says a spokesman for the report, a publication of NPD Group, a market research firm in Port Washington, N.Y.@@@@1@38@@oe@2-2-2013
22225005@unknown@formal@none@1@S@The loss of more customers is the latest in a string of problems.@@@@1@13@@oe@2-2-2013
22225006@unknown@formal@none@1@S@Church's Fried Chicken Inc. and Popeye's Famous Fried Chicken Inc., which have merged, are still troubled by overlapping restaurant locations.@@@@1@20@@oe@2-2-2013
22225007@unknown@formal@none@1@S@Chicken chains also are feeling more pressure from McDonald's Corp., which introduced its McChicken sandwich this year and recently tested the sale of individual pieces of chicken.@@@@1@27@@oe@2-2-2013
22225008@unknown@formal@none@1@S@New management at Kentucky Fried Chicken, a unit of PepsiCo Inc., has fought back with new medium and large chicken sandwiches for the lunch crowd.@@@@1@25@@oe@2-2-2013
22225009@unknown@formal@none@1@S@And the chain is testing products that aren't fried, such as "char-grilled" chicken, to try to win health-conscious consumers.@@@@1@19@@oe@2-2-2013
22225010@unknown@formal@none@1@S@Kentucky Fried Chicken also is testing home-delivery of chicken, which could be a hit with stay-at-home diners.@@@@1@17@@oe@2-2-2013
22225011@unknown@formal@none@1@S@But some fast-food industry analysts say problems with keeping chicken warm and fresh must be solved first.@@@@1@17@@oe@2-2-2013
22225012@unknown@formal@none@1@S@A Kentucky Fried Chicken spokesman, however, disputed the notion that the delivery service experienced problems in some markets where testing has been discontinued.@@@@1@23@@oe@2-2-2013
22225013@unknown@formal@none@1@S@He says the test is continuing in Chicago, Columbus, Ohio, and a few other cities.@@@@1@15@@oe@2-2-2013
22225014@unknown@formal@none@1@S@The advertising industry is buzzing with rumors that Kentucky Fried Chicken will drop Young & Rubicam and seek a new ad agency.@@@@1@22@@oe@2-2-2013
22225015@unknown@formal@none@1@S@But the company declines to comment.@@@@1@6@@oe@2-2-2013
22225016@unknown@formal@none@1@S@Emanuel Goldman, a PaineWebber Inc. analyst, predicts Kentucky Fried Chicken will post an 11% drop in 1989 net income.@@@@1@19@@oe@2-2-2013
22225017@unknown@formal@none@1@S@"They've been laggard," he says, "but they'll have to become more aggressive."@@@@1@12@@oe@2-2-2013
22225018@unknown@formal@none@1@S@Reluctant Advertisers Try Soft-Sell Spots@@@@1@5@@oe@2-2-2013
22225019@unknown@formal@none@1@S@CALL IT un-advertising.@@@@1@3@@oe@2-2-2013
22225020@unknown@formal@none@1@S@Pittsburgh consultant David Bear is selling a soft approach to clients who want exposure yet shun pushy ads.@@@@1@18@@oe@2-2-2013
22225021@unknown@formal@none@1@S@His ploy: 60-second radio spots that offer helpful hints.@@@@1@9@@oe@2-2-2013
22225022@unknown@formal@none@1@S@The only plug for the sponsor is a brief mention at the end of the spot.@@@@1@16@@oe@2-2-2013
22225023@unknown@formal@none@1@S@The messages resemble the Business Traveler, a daily dose of travel tips developed by Mr. Bear and sponsored by travel agencies in several major cities.@@@@1@25@@oe@2-2-2013
22225024@unknown@formal@none@1@S@New un-advertisers include Burt Hill Kosar Rittlemann Associates, a Butler, Pa., architectural firm.@@@@1@13@@oe@2-2-2013
22225025@unknown@formal@none@1@S@Its radio series features such spots as "Floodlights: Evening Wear for Urban Structures" and "Building a Place to Park."@@@@1@19@@oe@2-2-2013
22225026@unknown@formal@none@1@S@A harder sell, says John Kosar, the firm's president, would "detract from the profession."@@@@1@14@@oe@2-2-2013
22225027@unknown@formal@none@1@S@Hospitals have signed up to use the messages to promote fundraisers, and Equitable Gas Co. is considering the format to offer energy tips to consumers.@@@@1@25@@oe@2-2-2013
22225028@unknown@formal@none@1@S@But such spots can be too soft.@@@@1@7@@oe@2-2-2013
22225029@unknown@formal@none@1@S@"There's always a risk of lost messages," says John Fitzgerald, chairman of Ketchum Advertising USA, which created similar radio spots for Pittsburgh National Bank.@@@@1@24@@oe@2-2-2013
22225030@unknown@formal@none@1@S@"It's a question of how much credibility you gain for the possible loss of recognition."@@@@1@15@@oe@2-2-2013
22225031@unknown@formal@none@1@S@Retailer Sees Pitfalls In Environmental Push@@@@1@6@@oe@2-2-2013
22225032@unknown@formal@none@1@S@HERE'S a retailer that's getting tough in the push for environmentally safe packaging and products.@@@@1@15@@oe@2-2-2013
22225033@unknown@formal@none@1@S@Big Bear Supermarkets Inc., a grocery chain based in San Diego, plans to display shelf cards and distribute pamphlets recommending products deemed safe for the environment.@@@@1@26@@oe@2-2-2013
22225034@unknown@formal@none@1@S@The choices will be based on research by the San Diego Environmental Health Coalition and will include products like Murphy's Oil Soap and other noncorrosive cleaners.@@@@1@26@@oe@2-2-2013
22225035@unknown@formal@none@1@S@But the chain is quickly realizing the pitfalls of such endorsements.@@@@1@11@@oe@2-2-2013
22225036@unknown@formal@none@1@S@For example, it recommends nonchlorinated dishwasher detergent and puts Sunlight on its environmentally safe list.@@@@1@15@@oe@2-2-2013
22225037@unknown@formal@none@1@S@That doesn't thrill Procter & Gamble Co., maker of Cascade dishwasher detergent.@@@@1@12@@oe@2-2-2013
22225038@unknown@formal@none@1@S@A company spokesman questioned the validity of the list, noting that chlorine is present in all major dishwasher detergents.@@@@1@19@@oe@2-2-2013
22225039@unknown@formal@none@1@S@In fact, Lever Bros. confirms that its Sunlight brand does contain chlorine bleach, even though it isn't listed on the label for the powder version.@@@@1@25@@oe@2-2-2013
22225040@unknown@formal@none@1@S@Thomas G. Dahlen, Big Bear's executive vice president, said the chain is still reviewing its product list to avoid such problems.@@@@1@21@@oe@2-2-2013
22225041@unknown@formal@none@1@S@"Our intent is to promote the best alternative," he says.@@@@1@10@@oe@2-2-2013
22225042@unknown@formal@none@1@S@"And it's important that we be accurate."@@@@1@7@@oe@2-2-2013
22225043@unknown@formal@none@1@S@But in the end, customers' wishes are what will prevail.@@@@1@10@@oe@2-2-2013
22225044@unknown@formal@none@1@S@Big Bear doesn't care for disposable diapers, which aren't biodegradable.@@@@1@10@@oe@2-2-2013
22225045@unknown@formal@none@1@S@Yet parents demand them.@@@@1@4@@oe@2-2-2013
22225046@unknown@formal@none@1@S@Says Mr. Dahlen, "We'll still be forced to sell items we might not philosophically agree with."@@@@1@16@@oe@2-2-2013
22225047@unknown@formal@none@1@S@Odds and Ends@@@@1@3@@oe@2-2-2013
22225048@unknown@formal@none@1@S@NEATNESS does count -- at least in the grocery store.@@@@1@10@@oe@2-2-2013
22225049@unknown@formal@none@1@S@A study by Safeway's Scanner Marketing Research shows soap sales climbed 5% when bars were neatly stacked on shelves instead of dumped in a wire basket. . . .@@@@1@29@@oe@2-2-2013
22225050@unknown@formal@none@1@S@Which celebrity endorsers are most believable?@@@@1@6@@oe@2-2-2013
22225051@unknown@formal@none@1@S@For the third year in a row, consumers voted Bill Cosby first and James Garner second in persuasiveness as spokesmen in TV commercials, according to Video Storyboard Tests, New York.@@@@1@30@@oe@2-2-2013
22225052@unknown@formal@none@1@S@Michael J. Fox replaced Bruce Willis in third place; Cher placed fourth for the second time.@@@@1@16@@oe@2-2-2013
22226001@unknown@formal@none@1@S@Health and Human Services Secretary Louis Sullivan has chosen Antonia Novello to be the next surgeon general, Bush administration officials said.@@@@1@21@@oe@2-2-2013
22226002@unknown@formal@none@1@S@If she is nominated by President Bush and confirmed by the Senate, Dr. Novello would succeed C. Everett Koop, who rattled liberals and conservatives alike with his outspoken views on a range of health issues.@@@@1@35@@oe@2-2-2013
22226003@unknown@formal@none@1@S@Dr. Novello, an expert on pediatric kidney diseases, is deputy director of the National Institute of Child Health and Human Development.@@@@1@21@@oe@2-2-2013
22226004@unknown@formal@none@1@S@She has also served on several task forces on acquired immune deficiency syndrome.@@@@1@13@@oe@2-2-2013
22226005@unknown@formal@none@1@S@Dr. Novello's office said she wouldn't talk with reporters, and it refused to release any information about her.@@@@1@18@@oe@2-2-2013
22226006@unknown@formal@none@1@S@The newsletter Medicine & Health, which first disclosed her selection by Dr. Sullivan, said she is 44 years old and she studied at the University of Puerto Rico School of Medicine.@@@@1@31@@oe@2-2-2013
22227001@unknown@formal@none@1@S@The continuing series of HUD scandals is a sadly predictable result of pork-barrel politics.@@@@1@14@@oe@2-2-2013
22227002@unknown@formal@none@1@S@Nevertheless, lobbies such as the National Association of Home Builders (NAHB) continue to pressure Capitol Hill for more special-interest spending.@@@@1@20@@oe@2-2-2013
22227003@unknown@formal@none@1@S@Kent Colton, NAHB executive vice president, argues that the U.S. faces a multifaceted housing crisis -- reduced affordability of homes for first-time buyers, increased homelessness, and lower apartment construction rates -- that will be "very difficult" to solve "without expanded federal resources."@@@@1@42@@oe@2-2-2013
22227004@unknown@formal@none@1@S@There's nothing unusual about business groups pushing for more government spending.@@@@1@11@@oe@2-2-2013
22227005@unknown@formal@none@1@S@But the NAHB was created in 1943 out of an organization that made its name fighting a Roosevelt administration proposal to take over all defense housing production.@@@@1@27@@oe@2-2-2013
22227006@unknown@formal@none@1@S@Through the years the association has been an active member of the taxpayer's coalition, pushing for such initiatives as the balanced-budget amendment.@@@@1@22@@oe@2-2-2013
22227007@unknown@formal@none@1@S@Yet on matters close to, er, home . . .@@@@1@10@@oe@2-2-2013
22227008@unknown@formal@none@1@S@"The HUD budget has dropped by more than 70% since 1980," argues Mr. Colton.@@@@1@14@@oe@2-2-2013
22227009@unknown@formal@none@1@S@"We've taken more than our fair share.@@@@1@7@@oe@2-2-2013
22227010@unknown@formal@none@1@S@I wouldn't have a problem if other programs had taken a similar hit."@@@@1@13@@oe@2-2-2013
22227011@unknown@formal@none@1@S@But NAHB support for subsidies is not related to the current housing crunch; over the years the NAHB has backed a host of public programs.@@@@1@25@@oe@2-2-2013
22227012@unknown@formal@none@1@S@It once pushed for a national housing production goal set by the federal government and has regularly advanced anti-recession housing measures.@@@@1@21@@oe@2-2-2013
22227013@unknown@formal@none@1@S@Moreover, explains one HUD official, the NAHB remains susceptible to internal pressure from members that specialize in subsidized production.@@@@1@19@@oe@2-2-2013
22227014@unknown@formal@none@1@S@The association is pushing an extensive and expensive wish-list, which would substantially boost spending above the current level of more than $15 billion annually.@@@@1@24@@oe@2-2-2013
22227015@unknown@formal@none@1@S@It would like to peg the ceiling on Federal Housing Administration mortgage guarantees to 95% of the median price in a particular market, instead of limiting it to $101,250; reduce (or even eliminate) FHA down-payment requirements and increase the availability of variable-rate mortgages; expand the Veterans Affairs Department loan guarantee program; provide "adequate" funding for the Farmers Home Administration (FmHA); increase federal funding and tax incentives for the construction of low-income and rental housing, including $4 billion in block grants to states and localities; and "fully fund" the McKinney Act, a $656 million potpourri for the homeless.@@@@1@97@@oe@2-2-2013
22227016@unknown@formal@none@1@S@Direct federal subsidies for housing construction have proved intolerably expensive in the past, and inevitably are twisted to the benefit of well-connected developers and lobbyists, as demonstrated by the ongoing HUD scandal, or congressmen.@@@@1@34@@oe@2-2-2013
22227017@unknown@formal@none@1@S@Indirect subsidies, through the FHA, for instance, are little better.@@@@1@10@@oe@2-2-2013
22227018@unknown@formal@none@1@S@Though Mr. Colton says expanding FHA lending would result in "no cost to the government," the mere diversion of funds from other parts of the economy and from other forms of housing (such as low-income) to the single-family home market would result in a major expense.@@@@1@46@@oe@2-2-2013
22227019@unknown@formal@none@1@S@More important, housing programs run by HUD, the VA, and FmHA are awash in red ink.@@@@1@16@@oe@2-2-2013
22227020@unknown@formal@none@1@S@The FHA alone lost $4.2 billion in fiscal 1988; the government's equity in the agency, essentially its reserve fund, fell to minus $2.9 billion.@@@@1@24@@oe@2-2-2013
22227021@unknown@formal@none@1@S@The federal government has had to pump in $2.28 billion into the VA housing program since 1984 to keep the fund afloat and the VA requested an additional $120 million for the fiscal year just ended.@@@@1@36@@oe@2-2-2013
22227022@unknown@formal@none@1@S@All told, the federal government already guarantees more than $900 billion of mortgages.@@@@1@13@@oe@2-2-2013
22227023@unknown@formal@none@1@S@In its nicely produced publication "Where Will Our Children Live?" the NAHB does acknowledge that "of course, the full measure of housing affordability cannot be provided by the federal government."@@@@1@30@@oe@2-2-2013
22227024@unknown@formal@none@1@S@It points to the pernicious impact of local government regulation, particularly zoning and building fees, which pushes the price of housing out of the reach of low- and middle-income people.@@@@1@30@@oe@2-2-2013
22227025@unknown@formal@none@1@S@But while the NAHB has suggested actions that states and localities should take to reduce regulatory barriers, the association has proposed no activist legislative program -- comparable to, say, its detailed request for more federal subsidies -- to eliminate counterproductive controls.@@@@1@41@@oe@2-2-2013
22227026@unknown@formal@none@1@S@The association, a majority of whose 156,000 members build fewer than 25 units a year, is like many other business lobbies.@@@@1@21@@oe@2-2-2013
22227027@unknown@formal@none@1@S@Explains Sheila MacDonald of the National Taxpayers Union: "It treads in two worlds.@@@@1@13@@oe@2-2-2013
22227028@unknown@formal@none@1@S@The builders like the subsidies, but at the same time they tend to be fiscal conservatives in terms of major issues, such as the balanced-budget amendment."@@@@1@26@@oe@2-2-2013
22227029@unknown@formal@none@1@S@Unfortunately, the organization's desire for pork tends to override its commitment to overall fiscal responsibility.@@@@1@15@@oe@2-2-2013
22227030@unknown@formal@none@1@S@Two years ago when the NAHB lobbied for the $19 billion omnibus housing bill, the organization "basically dropped out of the taxpayers' coalition," says Ms. MacDonald.@@@@1@26@@oe@2-2-2013
22227031@unknown@formal@none@1@S@As Mr. Colton of the NAHB acknowledges: "Government is not going to solve the problem. . . .@@@@1@18@@oe@2-2-2013
22227032@unknown@formal@none@1@S@The real key is to have the economy working and interest rates down."@@@@1@13@@oe@2-2-2013
22227033@unknown@formal@none@1@S@More money for HUD will increase the deficit and destabilize the economy; more money to municipalities that are wrecking their local housing markets will further insulate them from the destructive effects of their policies.@@@@1@34@@oe@2-2-2013
22227034@unknown@formal@none@1@S@Is this what the home builders want?@@@@1@7@@oe@2-2-2013
22227035@unknown@formal@none@1@S@Mr. Bandow is a Cato Institute fellow.@@@@1@7@@oe@2-2-2013
22227036@unknown@formal@none@1@S@(See related story: "And Bills to Make Wishes Come True" -- WSJ Oct. 17, 1989.@@@@1@15@@oe@2-2-2013
22228001@unknown@formal@none@1@S@In an attempt to give new momentum to European Community plans for a single currency, EC government leaders are likely to agree to set a date for starting formal talks on amending the EC's founding Treaty of Rome.@@@@1@38@@oe@2-2-2013
22228002@unknown@formal@none@1@S@According to diplomatic sources in Brussels, most EC leaders agree that talks should begin in the second half of 1990, and will make a declaration on that during a summit meeting in Strasbourg, France, on Dec. 8 and 9.@@@@1@39@@oe@2-2-2013
22228003@unknown@formal@none@1@S@The only strong opposition to changing the EC treaty comes from British Prime Minister Margaret Thatcher, who is opposed to creating a single EC currency.@@@@1@25@@oe@2-2-2013
22228004@unknown@formal@none@1@S@But the process of convening the intergovernmental conference doesn't require unanimity.@@@@1@11@@oe@2-2-2013
22228005@unknown@formal@none@1@S@Setting a date to start treaty negotiations has no legal significance in itself, but could be viewed as an important psychological push.@@@@1@22@@oe@2-2-2013
22228006@unknown@formal@none@1@S@French President Francois Mitterrand fought to set a date for the conference during the EC summit in Madrid last June, but the move was scuttled because of opposition by Mrs. Thatcher and West German Chancellor Helmut Kohl.@@@@1@37@@oe@2-2-2013
22228007@unknown@formal@none@1@S@Diplomatic sources said Mr. Kohl may now agree to set a date for the conference to make it clear that West Germany is still committed to EC unity.@@@@1@28@@oe@2-2-2013
22229001@unknown@formal@none@1@S@The latest crewcut in the equities markets reminds me of the joke T. Boone Pickens tells about the guy who was run over by the parade.@@@@1@26@@oe@2-2-2013
22229002@unknown@formal@none@1@S@When asked "What went wrong?" the unfortunate victim replied, "It was a combination of things."@@@@1@15@@oe@2-2-2013
22229003@unknown@formal@none@1@S@And so it was on Gray Friday.@@@@1@7@@oe@2-2-2013
22229004@unknown@formal@none@1@S@The grand marshal of this parade would appear to have been excess leverage.@@@@1@13@@oe@2-2-2013
22229005@unknown@formal@none@1@S@Even if that is so, however, it's probably the case that no barriers should have been erected to stop the procession before the end of the rout(e).@@@@1@27@@oe@2-2-2013
22229006@unknown@formal@none@1@S@The ceremonies began Friday afternoon when word spread that the UAL buy-out was collapsing.@@@@1@14@@oe@2-2-2013
22229007@unknown@formal@none@1@S@Although the union-bidder expects to patch together a substitute offer, consisting of less cash, the failure to get cash from Japanese and American banks confirmed a growing fear among arbitragers that the pageant of high-leverage takeover deals is ending.@@@@1@39@@oe@2-2-2013
22229008@unknown@formal@none@1@S@Lots of other entries made up the parade, of course -- notably a surprisingly large increase in producer prices, signalling Federal Reserve tightness; and the Bush administration's (temporary?) defeat in trying to lower the capital-gains tax.@@@@1@36@@oe@2-2-2013
22229009@unknown@formal@none@1@S@As usual, few favorable reviews were heard for that ever-present marching band of program traders, although most serious studies suggest they only play the music that others write.@@@@1@28@@oe@2-2-2013
22229010@unknown@formal@none@1@S@What really spooked the crowds along Wall Street, however, was the sudden concern that, whatever the reason, the pool of debt capital is drying up.@@@@1@25@@oe@2-2-2013
22229011@unknown@formal@none@1@S@Gray Friday reflects a panic mainly by the takeover arbitragers, rather than the small investor, as their highly margined investments in the "deal" stocks are jeopardized by the unexpected drying up of the lubricant for deal financing.@@@@1@37@@oe@2-2-2013
22229012@unknown@formal@none@1@S@Deal stocks led the market down as they absorbed the heaviest losses.@@@@1@12@@oe@2-2-2013
22229013@unknown@formal@none@1@S@UAL, which triggered the slide, opened Monday at $224, down about 20% from Thursday's close.@@@@1@15@@oe@2-2-2013
22229014@unknown@formal@none@1@S@AMR opened Monday at $80, down nearly 20% from Thursday's close.@@@@1@11@@oe@2-2-2013
22229015@unknown@formal@none@1@S@(Both took further hits yesterday.)@@@@1@5@@oe@2-2-2013
22229016@unknown@formal@none@1@S@Hilton lost 20% on Friday; Paramount lost almost 11%.@@@@1@9@@oe@2-2-2013
22229017@unknown@formal@none@1@S@A careful look reveals that where deal financing has been secured, the target's stock price was not affected on Friday.@@@@1@20@@oe@2-2-2013
22229018@unknown@formal@none@1@S@The multibillion-dollar prospects, where the bidder must line up a consortium of banks and/or issue billions in high-yield debt, were where the damage was concentrated.@@@@1@25@@oe@2-2-2013
22229019@unknown@formal@none@1@S@The market for so-called junk bonds has been setting the stage for Friday's dramatic march for several weeks.@@@@1@18@@oe@2-2-2013
22229020@unknown@formal@none@1@S@The growing financial difficulties of recent high-leverage restructurings or takeovers, such as Resorts International, Integrated Resources, and Campeau's retailing empire, have cast a pall over the entire market for high-yield securities.@@@@1@31@@oe@2-2-2013
22229021@unknown@formal@none@1@S@Investors have reacted by ignoring recent efforts to float junk bonds by Ohio Mattress and by forcing Ramada to postpone indefinitely its planned junk-bond sale and restructuring.@@@@1@27@@oe@2-2-2013
22229022@unknown@formal@none@1@S@As a result, high-yield mutual funds have declined across the board and the many firms planning to sell $11 billion in junk bonds before year-end are experiencing anxious times.@@@@1@29@@oe@2-2-2013
22229023@unknown@formal@none@1@S@These are all market excesses (putting aside the artificial boosts that the tax code gives to debt over equity), and what we've seen is the market reining them in.@@@@1@29@@oe@2-2-2013
22229024@unknown@formal@none@1@S@Of course, Washington hadn't been silent in the days leading up to the debacle, and its tendency to meddle in the leverage equation remains a troublesome prospect, but those preliminary steps shouldn't distract us from the basic market fundamentalism that was at work on Friday.@@@@1@45@@oe@2-2-2013
22229025@unknown@formal@none@1@S@If it is correct to find that concerns over corporate debt and LBOs caused Gray Friday, what are the implications for policy makers?@@@@1@23@@oe@2-2-2013
22229026@unknown@formal@none@1@S@After all, the stock market's response to the collapse of the UAL deal might be taken to confirm the anti-debt direction of regulators.@@@@1@23@@oe@2-2-2013
22229027@unknown@formal@none@1@S@Is this a case where private markets are approving of Washington's bashing of Wall Street?@@@@1@15@@oe@2-2-2013
22229028@unknown@formal@none@1@S@Absolutely not.@@@@1@2@@oe@2-2-2013
22229029@unknown@formal@none@1@S@To the extent that Friday's sell-off reflected a sudden reappraisal of the excesses of leverage, the message is that Wall Street and the private markets are fully capable of imposing the appropriate incentives and sanctions on corporate behavior.@@@@1@38@@oe@2-2-2013
22229030@unknown@formal@none@1@S@The national economic interests are much better served allowing the private interests of bankers and investors be the ultimate judges of the investment quality of various LBO deals and leveraged restructurings.@@@@1@31@@oe@2-2-2013
22229031@unknown@formal@none@1@S@The recent difficulties in the junk-bond markets and the scarcity of bank capital for recent deals underscores the wisdom of letting the free markets operate.@@@@1@25@@oe@2-2-2013
22229032@unknown@formal@none@1@S@If takeover premiums become excessive, if LBO dealmakers become too aggressive, then the private market will recognize these problems more quickly and accurately than will policy makers, and the markets will move with lightning speed to impose appropriate sanctions.@@@@1@39@@oe@2-2-2013
22229033@unknown@formal@none@1@S@Yes, the broader exchanges got caught up in the spiral, but they rode the tiger up all year.@@@@1@18@@oe@2-2-2013
22229034@unknown@formal@none@1@S@Not surprisingly, he sometimes bites.@@@@1@5@@oe@2-2-2013
22229035@unknown@formal@none@1@S@The arbitragers and takeover initiatiors got killed on Gray Friday, while the besieged managers of prospective targets cheered lustily.@@@@1@19@@oe@2-2-2013
22229036@unknown@formal@none@1@S@If you identify with the besieged managers, you must concede that speedy and effective relief from the excesses of the takeover market is more likely to come from the marketplace than from Washington.@@@@1@33@@oe@2-2-2013
22229037@unknown@formal@none@1@S@If you side with the arbitragers and raiders, you clearly have more to fear from private investors than from regulators, although the Delaware courts should never be underestimated.@@@@1@28@@oe@2-2-2013
22229038@unknown@formal@none@1@S@The truth is, Washington understands politics better than economics.@@@@1@9@@oe@2-2-2013
22229039@unknown@formal@none@1@S@Although the average citizen is probably not harmed too much from Washington's rhetorical war against Wall Street regarding excessive financial leveraging, actual legislation would probably impose considerable harm.@@@@1@28@@oe@2-2-2013
22229040@unknown@formal@none@1@S@Any such attempt to distinguish "good debt" from "bad debt," or to draw the line at a particular industry, such as the airlines, is likely to blunt the spur that the proper amount of leverage provides both to equity markets and economic efficiency in general.@@@@1@45@@oe@2-2-2013
22229041@unknown@formal@none@1@S@Far better for policy makers to concentrate on the war against drugs, Panama and the deficit, all of them parades that seem never to end.@@@@1@25@@oe@2-2-2013
22229042@unknown@formal@none@1@S@Mr. Jarrell, former top economist at the Securities and Exchange Commission, teaches at the University of Rochester's Simon Business School.@@@@1@20@@oe@2-2-2013
22230001@unknown@formal@none@1@S@Tokyo share prices rebounded Tuesday morning, with the Nikkei index of 225 selected stocks rising 618.69 points to close the morning session at 35087.38.@@@@1@24@@oe@2-2-2013
22230002@unknown@formal@none@1@S@The index slid 647.33 points, or 1.8%, on Monday.@@@@1@9@@oe@2-2-2013
22230003@unknown@formal@none@1@S@In the first 25 minutes of Tuesday's trading the Nikkei index soared 664.83 points, to 35133.83.@@@@1@16@@oe@2-2-2013
22230004@unknown@formal@none@1@S@By 10 a.m. Tokyo time, the index was up 435.11 points, to 34903.80 as investors hailed New York's overnight rally.@@@@1@20@@oe@2-2-2013
22230005@unknown@formal@none@1@S@Monday's slide came in a relatively calm session that didn't provide much direction for other markets.@@@@1@16@@oe@2-2-2013
22230006@unknown@formal@none@1@S@Shares also closed sharply lower across Europe, particularly in Frankfurt, although London and a few other markets recovered some ground after stocks began to rebound in New York.@@@@1@28@@oe@2-2-2013
22230007@unknown@formal@none@1@S@Other Asian and Pacific markets had sharper losses than Tokyo, but the selling wave stopped short of precipitating another market crash.@@@@1@21@@oe@2-2-2013
22230008@unknown@formal@none@1@S@All eyes were on Tokyo at the opening because it was the first major market to trade since Friday's 190.58-point plunge on Wall Street.@@@@1@24@@oe@2-2-2013
22230009@unknown@formal@none@1@S@But rather than set the tone for other markets, Japan's major institutional investors chose to remain on the sidelines.@@@@1@19@@oe@2-2-2013
22230010@unknown@formal@none@1@S@Still, despite the sudden reappearance of stock-market turbulence, managers of Japanese investment funds said they weren't planning to unload U.S. or European equities.@@@@1@23@@oe@2-2-2013
22230011@unknown@formal@none@1@S@"We didn't trade much today, as our policy now is to wait and see," said a fund manager at Taisho Life Insurance Co.@@@@1@23@@oe@2-2-2013
22230012@unknown@formal@none@1@S@"We would like to wait and see until trading goes around through Europe and New York."@@@@1@16@@oe@2-2-2013
22230013@unknown@formal@none@1@S@The institutions appeared confident that Japanese regulators would step in to ensure orderly trading if necessary, and there was considerable speculation during the day that the Finance Ministry was working behind the scenes to do just that.@@@@1@37@@oe@2-2-2013
22230014@unknown@formal@none@1@S@But in the absence of panicky trading, its presence was never overtly felt.@@@@1@13@@oe@2-2-2013
22230015@unknown@formal@none@1@S@At the close, the Nikkei average of 225 stocks stood at 34468.69, down 647.33 points, or 1.8%.@@@@1@17@@oe@2-2-2013
22230016@unknown@formal@none@1@S@The broader Tokyo Stock Price Index sank 45.66, or 1.7%, to 2600.88.@@@@1@12@@oe@2-2-2013
22230017@unknown@formal@none@1@S@The day's decline was generally in line with analysts' weekend predictions.@@@@1@11@@oe@2-2-2013
22230018@unknown@formal@none@1@S@Declining issues swamped advancers, 941-105.@@@@1@5@@oe@2-2-2013
22230019@unknown@formal@none@1@S@But volume was thin at 526.2 million shares, compared with 574.7 million Friday.@@@@1@13@@oe@2-2-2013
22230020@unknown@formal@none@1@S@The market opened sharply lower, with the Nikkei average down nearly 600 after 20 minutes.@@@@1@15@@oe@2-2-2013
22230021@unknown@formal@none@1@S@A midmorning rebound brought it back to show a gain of about 200 at the end of the morning session, but the rally failed in the afternoon, and the market closed near the day's low.@@@@1@35@@oe@2-2-2013
22230022@unknown@formal@none@1@S@The smaller stocks in the Tokyo market's second section also posted their biggest decline of the year.@@@@1@17@@oe@2-2-2013
22230023@unknown@formal@none@1@S@The Tokyo Stock Exchange index for the second section fell 100.96, or 2.7%, to 3655.40.@@@@1@15@@oe@2-2-2013
22230024@unknown@formal@none@1@S@Many investors, trying to outperform the market's major indexes, have flocked to these small issues in recent weeks.@@@@1@18@@oe@2-2-2013
22230025@unknown@formal@none@1@S@Japanese investors and traders expressed relief that the Tokyo market didn't fall more sharply.@@@@1@14@@oe@2-2-2013
22230026@unknown@formal@none@1@S@But its performance did bear some resemblance to events of two years ago, during the October 1987 global stock market crash.@@@@1@21@@oe@2-2-2013
22230027@unknown@formal@none@1@S@On Oct. 16, 1987 -- the Friday before the Black Monday crash -- the New York market dropped 4.6%, and Tokyo followed on Monday with a 2.4% drop.@@@@1@28@@oe@2-2-2013
22230028@unknown@formal@none@1@S@This time, Wall Street's plunge of 6.9% Friday was followed by yesterday's 1.8% loss in Tokyo.@@@@1@16@@oe@2-2-2013
22230029@unknown@formal@none@1@S@Two years ago, Tokyo's biggest fall came the day after New York's 22.6% Black Monday plunge, when the Nikkei average fell 14.9%.@@@@1@22@@oe@2-2-2013
22230030@unknown@formal@none@1@S@Thus, market participants yesterday were looking ahead nervously to Wall Street's opening.@@@@1@12@@oe@2-2-2013
22230031@unknown@formal@none@1@S@But in New York yesterday, the Dow Jones Industrial Average surged 88.12 to close at 2657.38 on heavy volume of 416,290,000 shares, although declining issues still outnumbered advancing ones on the broad market.@@@@1@33@@oe@2-2-2013
22230032@unknown@formal@none@1@S@Nobuto Yasuda, a director at Yamaichi Investment Trust & Management Co., called yesterday's session "a good scenario" for Japan.@@@@1@19@@oe@2-2-2013
22230033@unknown@formal@none@1@S@"Now we are looking for the time to place buy orders," he said.@@@@1@13@@oe@2-2-2013
22230034@unknown@formal@none@1@S@"For us institutional investors, the chance for buying has come."@@@@1@10@@oe@2-2-2013
22230035@unknown@formal@none@1@S@Isao Ushikubo, general manager of the investment research department at Toyo Trust & Banking Co., also was optimistic.@@@@1@18@@oe@2-2-2013
22230036@unknown@formal@none@1@S@He described Friday's plunge in the U.S. as a "fleeting" event resulting in part from excessive merger and acquisition activity.@@@@1@20@@oe@2-2-2013
22230037@unknown@formal@none@1@S@"Unless there is a panic, this is the best time to buy, as was the case two years ago," he said.@@@@1@21@@oe@2-2-2013
22230038@unknown@formal@none@1@S@"Those shares which had posted gains on M&A speculation were dashed with cold water, but as far as major stocks are concerned, there isn't much impact."@@@@1@26@@oe@2-2-2013
22230039@unknown@formal@none@1@S@Other fund managers were similarly sanguine.@@@@1@6@@oe@2-2-2013
22230040@unknown@formal@none@1@S@"We have no plans to adjust our asset allocation in foreign equities," said Masato Murakami, chief portfolio manager in the pension fund management department at Yasuda Trust & Banking Co.@@@@1@30@@oe@2-2-2013
22230041@unknown@formal@none@1@S@He said Friday's Wall Street decline was "well within the range of volatility" that Yasuda Trust plans for when it charts its overseas investment strategy.@@@@1@25@@oe@2-2-2013
22230042@unknown@formal@none@1@S@Among other Asian and Pacific markets, Malaysia and Singapore had the biggest losses, with the Kuala Lumpur composite index in Malaysia falling 11.5% and Singapore's Straits Times Industrial Index down 10%.@@@@1@31@@oe@2-2-2013
22230043@unknown@formal@none@1@S@Major indexes declined more than 8% in Australia and New Zealand and 6.5% in Hong Kong.@@@@1@16@@oe@2-2-2013
22230044@unknown@formal@none@1@S@Bangkok, Manila, Seoul, Taipei and Jakarta escaped with slightly smaller losses.@@@@1@11@@oe@2-2-2013
22230045@unknown@formal@none@1@S@Brokers and fund managers said the region's markets were reacting to Friday's Wall Street plunge even though that decline was due to local factors such as failed corporate buy-outs and a deteriorating junk-bond market.@@@@1@34@@oe@2-2-2013
22230046@unknown@formal@none@1@S@"It's pure psychology," said William Au Yeung, an account executive for Drexel Burnham Lambert (HK) Ltd. in Hong Kong.@@@@1@19@@oe@2-2-2013
22230047@unknown@formal@none@1@S@"Markets in this region aren't so geared to leveraged buy-outs, and their economies generally are in good shape, but there's no doubt that Asia is still following America's lead."@@@@1@29@@oe@2-2-2013
22230048@unknown@formal@none@1@S@Several analysts said Malaysia and Singapore had the biggest losses because they are relatively open to rapid cash flows.@@@@1@19@@oe@2-2-2013
22230049@unknown@formal@none@1@S@Hong Kong is the region's next most open market, but many foreign investors have been staying away from it since it plunged in June amid political turmoil in China.@@@@1@29@@oe@2-2-2013
22230050@unknown@formal@none@1@S@"Singapore took the hit because when people want to get out, they tend to go where the liquidity is," said Elizabeth Hambrecht, a regional analyst with Baring Securities (Hong Kong) Ltd.@@@@1@31@@oe@2-2-2013
22230051@unknown@formal@none@1@S@She pointed out that even after Monday's 10% decline, the Straits Times index is up 24% this year, so investors who bailed out generally did so profitably.@@@@1@27@@oe@2-2-2013
22230052@unknown@formal@none@1@S@Similarly, Kuala Lumpur's composite index yesterday ended 27.5% above its 1988 close.@@@@1@12@@oe@2-2-2013
22230053@unknown@formal@none@1@S@In Hong Kong, the Hang Seng Index fell 180.60 to finish at 2601.70.@@@@1@13@@oe@2-2-2013
22230054@unknown@formal@none@1@S@Trading was heavy at about one billion shares, compared with 473.9 million Friday.@@@@1@13@@oe@2-2-2013
22230055@unknown@formal@none@1@S@But the session was orderly, in contrast to the market's four-day closure after the 1987 crash.@@@@1@16@@oe@2-2-2013
22230056@unknown@formal@none@1@S@Richard Chenevix-Trench, a director at Hong Kong-based Baring International Fund Managers Ltd., said the market probably hasn't hit bottom yet but is close.@@@@1@23@@oe@2-2-2013
22230057@unknown@formal@none@1@S@"If New York doesn't collapse, I see maybe another 5% on the downside, not counting the risk of bad news out of China," he said.@@@@1@25@@oe@2-2-2013
22230058@unknown@formal@none@1@S@In Australia, Sydney's All Ordinaries index closed at 1601.5, down 8.1%, its biggest drop since October 1987.@@@@1@17@@oe@2-2-2013
22230059@unknown@formal@none@1@S@But volume rose only to 162 million shares from 143 million Friday.@@@@1@12@@oe@2-2-2013
22230060@unknown@formal@none@1@S@Nestor Hinzack, an analyst at brokerage firm Burdett, Buckeridge & Young Ltd., described the market's performance as "sheep-like" as investors fled to bluechip Australian stocks and shunned entrepreneurial companies they perceived as having any takeover premium built into the price.@@@@1@40@@oe@2-2-2013
22230061@unknown@formal@none@1@S@London's Financial Times-Stock Exchange 100-share index, the most closely watched market barometer, ended at its intraday high of 2163.4, down 70.5, or 3.2%.@@@@1@23@@oe@2-2-2013
22230062@unknown@formal@none@1@S@At its low, shortly before Wall Street opened, it was off more than 130 points.@@@@1@15@@oe@2-2-2013
22230063@unknown@formal@none@1@S@The Financial Times 30-share index closed 79.3 points lower at 1738.7.@@@@1@11@@oe@2-2-2013
22230064@unknown@formal@none@1@S@Volume more than doubled to 959.3 million shares from 457.7 million Friday.@@@@1@12@@oe@2-2-2013
22230065@unknown@formal@none@1@S@Prices on the Frankfurt Stock Exchange tumbled in heavy trading.@@@@1@10@@oe@2-2-2013
22230066@unknown@formal@none@1@S@The decline in the German Stock Index of 203.56 points, or 12.8%, to 1385.72 was the Frankfurt market's steepest fall ever.@@@@1@21@@oe@2-2-2013
22230067@unknown@formal@none@1@S@Retail investors dumped holdings on a massive scale, pushing some blue-chip shares down as much as 20%.@@@@1@17@@oe@2-2-2013
22230068@unknown@formal@none@1@S@Analysts cited memories of two years ago, when many small investors held on to their shares after the October crash but the West German market continued to decline steeply for the next three months.@@@@1@34@@oe@2-2-2013
22230069@unknown@formal@none@1@S@Here are price trends on the world's major stock markets, as calculated by Morgan Stanley Capital International Perspective, Geneva.@@@@1@19@@oe@2-2-2013
22230070@unknown@formal@none@1@S@To make them directly comparable, each index is based on the close of 1969 equaling 100.@@@@1@16@@oe@2-2-2013
22230071@unknown@formal@none@1@S@The percentage change is since year-end.@@@@1@6@@oe@2-2-2013
22231001@unknown@formal@none@1@S@Frank Lloyd Wright is reported to have said once that if you tipped the world on its side, everything loose would end up in California.@@@@1@25@@oe@2-2-2013
22231002@unknown@formal@none@1@S@We've always thought that Mr. Wright underestimated California's vitality, but maybe the state's la-la factions are starting to overwhelm the forces that made it such a significant place.@@@@1@28@@oe@2-2-2013
22231003@unknown@formal@none@1@S@What else is one to make of the whacky save-the-earth initiative just proposed by several major environmental groups and organized by the state's attorney general?@@@@1@25@@oe@2-2-2013
22231004@unknown@formal@none@1@S@If passed by the voters, the recently announced initiative would phase out major pesticides, reduce carbon dioxide emissions by 40%, ban new offshore drilling, ban chemicals thought to deplete the ozone layer, and create a new state environmental officer armed with a $40 million budget to sue any firm or agency he thinks is being too dirty.@@@@1@57@@oe@2-2-2013
22231005@unknown@formal@none@1@S@The initiative is based largely on the wish-lists of the green lobby: the Sierra Club, the League of Conservation Voters, the Natural Resources Defense Council, the National Toxics Campaign and the Citizens for a Better Environment.@@@@1@36@@oe@2-2-2013
22231006@unknown@formal@none@1@S@Interestingly, the Environmental Defense Fund is having nothing to do with this one.@@@@1@13@@oe@2-2-2013
22231007@unknown@formal@none@1@S@Not only Californians but all Americans would pay if this thing passed.@@@@1@12@@oe@2-2-2013
22231008@unknown@formal@none@1@S@The initiative bars the sale of any crops in California that don't meet the initiative's standards.@@@@1@16@@oe@2-2-2013
22231009@unknown@formal@none@1@S@Kansas wheat farmers and Florida fruit growers would have to adjust or give up the California market.@@@@1@17@@oe@2-2-2013
22231010@unknown@formal@none@1@S@In other words, California is presuming to take control of the nation's farm policy.@@@@1@14@@oe@2-2-2013
22231011@unknown@formal@none@1@S@As usual the green lobby's proposal is disconnected from scientific reality.@@@@1@11@@oe@2-2-2013
22231012@unknown@formal@none@1@S@Consider the greenhouse-effect provision.@@@@1@4@@oe@2-2-2013
22231013@unknown@formal@none@1@S@The proposed initiative would mandate a reduction of carbon dioxide of 40%.@@@@1@12@@oe@2-2-2013
22231014@unknown@formal@none@1@S@Even if one buys into the whole greenhouse theory, it is inconceivable that reductions in a single state could have any impact on what is billed as a global problem.@@@@1@30@@oe@2-2-2013
22231015@unknown@formal@none@1@S@But if rational science and economics have nothing to do with the new environment initiative, what is going on?@@@@1@19@@oe@2-2-2013
22231016@unknown@formal@none@1@S@The first place to look under these circumstances is at the ways in which the sponsors themselves will benefit.@@@@1@19@@oe@2-2-2013
22231017@unknown@formal@none@1@S@The key here is the ambition of state Attorney General John Van de Kamp.@@@@1@14@@oe@2-2-2013
22231018@unknown@formal@none@1@S@He's running for governor.@@@@1@4@@oe@2-2-2013
22231019@unknown@formal@none@1@S@Mr. Van de Kamp is the one who collected the plans from the various radical environmental groups and cobbled them into a single unwieldy initiative to be placed on the ballot for election on Nov. 6, 1990.@@@@1@37@@oe@2-2-2013
22231020@unknown@formal@none@1@S@That's also the day of the gubernatorial election.@@@@1@8@@oe@2-2-2013
22231021@unknown@formal@none@1@S@The initiative seems to have been crafted to include all the hot issues that set off the wealthy Hollywood weepers who donate money.@@@@1@23@@oe@2-2-2013
22231022@unknown@formal@none@1@S@And it allows Mr. Van de Kamp to get around campaign spending limits.@@@@1@13@@oe@2-2-2013
22231023@unknown@formal@none@1@S@He can spend the legal maximum for his campaign; all the spending for the Van de Kamp initiative (on which there are no limits) is gravy.@@@@1@26@@oe@2-2-2013
22231024@unknown@formal@none@1@S@This initiative is being labeled The Big Green, but maybe it should be called The Big Greenback.@@@@1@17@@oe@2-2-2013
22231025@unknown@formal@none@1@S@(The Republican candidate, Sen. Pete Wilson, is playing the initiative fundraising game too, sponsoring his own crime initiative.)@@@@1@18@@oe@2-2-2013
22231026@unknown@formal@none@1@S@While it is possible that the Big Green initiative will be ruled unconstitutional, it is of course conceivable that in modern California it could slide through.@@@@1@26@@oe@2-2-2013
22231027@unknown@formal@none@1@S@This is the state that recently passed the Prop. 65 anti-toxic initiative.@@@@1@12@@oe@2-2-2013
22231028@unknown@formal@none@1@S@If this new proposal ever does become law, the green lobby will benefit directly.@@@@1@14@@oe@2-2-2013
22231029@unknown@formal@none@1@S@The initiative creates a free floating state environmental officer to sue companies or government agencies that do things he doesn't like.@@@@1@21@@oe@2-2-2013
22231030@unknown@formal@none@1@S@That means the NRDC and such groups no longer would have to spend as much money on litigation; taxpayers would bear the cost.@@@@1@23@@oe@2-2-2013
22231031@unknown@formal@none@1@S@Mr. Van de Kamp and his allies may be hoping that the environment is such a mom and apple-pie issue among certain segments of California's population now that almost any collection of anti-scientific, anti-pocketbook nonsense can pass under its rubric.@@@@1@40@@oe@2-2-2013
22231032@unknown@formal@none@1@S@Of course the state's liberals are not yet a nation unto themselves.@@@@1@12@@oe@2-2-2013
22231033@unknown@formal@none@1@S@George Bush, for example, may decide that he doesn't want to be the President who lost control of interstate commerce to an attorney general from California.@@@@1@26@@oe@2-2-2013
22231034@unknown@formal@none@1@S@And some other segments of California's political and media culture may yet start to point out that the initiative would impose significant costs on the state's less affluent citizens in the form of higher food prices and lost jobs.@@@@1@39@@oe@2-2-2013
22231035@unknown@formal@none@1@S@This grandiose initiative will help California define itself for the futureeither as a state still tethered to economic and scientific reality, or as one being led to wherever its la-la activists want to take it.@@@@1@35@@oe@2-2-2013
22232001@unknown@formal@none@1@S@First, there was a death watch.@@@@1@6@@oe@2-2-2013
22232002@unknown@formal@none@1@S@Then exhilaration.@@@@1@2@@oe@2-2-2013
22232003@unknown@formal@none@1@S@Spurred by waves of large-scale buying in blue-chip stocks, the Dow Jones Industrial Average rallied yesterday and erased about a half of Friday's 190.58-point plunge, gaining 88.12 to 2657.38.@@@@1@29@@oe@2-2-2013
22232004@unknown@formal@none@1@S@It was the fourth-biggest advance for the average of 30 blue chips, on frenetic New York Stock Exchange volume of 416,290,000 shares -- the highest since the days after the 1987 crash.@@@@1@32@@oe@2-2-2013
22232005@unknown@formal@none@1@S@While the advance cheered investors who feared a 1987-style crash would occur yesterday, it was strictly a big-stock rally fed by huge buying by bargain-hunting institutions and program traders.@@@@1@29@@oe@2-2-2013
22232006@unknown@formal@none@1@S@A troubling sign: Declining stocks on the Big Board outnumbered advancers, 975 to 749, and the over-the-counter market that includes many smaller stocks suffered aftershocks of Friday's late Big Board plunge.@@@@1@31@@oe@2-2-2013
22232007@unknown@formal@none@1@S@The Nasdaq OTC index closed down 6.31 to 460.98.@@@@1@9@@oe@2-2-2013
22232008@unknown@formal@none@1@S@Meanwhile, in a divergence in two of the market's most important indicators, the Dow industrials' sister average, the 20-stock Dow Jones Transportation Average, tumbled 102.06 to 1304.23 -- its second-worst decline next to the 164.78-point fall during the 1987 crash.@@@@1@40@@oe@2-2-2013
22232009@unknown@formal@none@1@S@Transports plunged on takeover disappointments in two airline stocks, UAL and AMR, which each fell more than 20% when they reopened for trading yesterday after being suspended Friday afternoon.@@@@1@29@@oe@2-2-2013
22232010@unknown@formal@none@1@S@UAL, the takeover stock at the center of Friday's 190.58-point market plunge, fell 56 7/8 to 222 7/8 on nearly 2.3 million shares.@@@@1@23@@oe@2-2-2013
22232011@unknown@formal@none@1@S@Overall, "this is a pleasant rally but it's very selective," said Arthur Cashin Jr., a veteran PaineWebber Inc. trader at the Big Board.@@@@1@23@@oe@2-2-2013
22232012@unknown@formal@none@1@S@"Everyone was a little concerned about the general narrowness of the rally and failure of the OTC market to get into plus territory.@@@@1@23@@oe@2-2-2013
22232013@unknown@formal@none@1@S@It's just a strange feeling.@@@@1@5@@oe@2-2-2013
22232014@unknown@formal@none@1@S@I don't think anyone left the place whistling Dixie."@@@@1@9@@oe@2-2-2013
22232015@unknown@formal@none@1@S@The rally gave credence, at least for now, to the pre-trading declaration of Big Board Chairman John J. Phelan Jr. that Friday's market debacle was "an abnormal condition, and not a disaster."@@@@1@32@@oe@2-2-2013
22232016@unknown@formal@none@1@S@But to traders, it looked like disaster on the 9:30 a.m. opening bell.@@@@1@13@@oe@2-2-2013
22232017@unknown@formal@none@1@S@The Dow Jones Industrial Average opened down 1.64 shortly after 9:30.@@@@1@11@@oe@2-2-2013
22232018@unknown@formal@none@1@S@But most of the 30 blue-chip stocks in the average, including Eastman Kodak and General Motors, couldn't trade because of the heavy backlog of sell orders left over from Friday's late-afternoon rout.@@@@1@32@@oe@2-2-2013
22232019@unknown@formal@none@1@S@At 9:45, Procter & Gamble -- one of the most important Dow bellwethers of late -- opened down 2 3/4 to 117.@@@@1@22@@oe@2-2-2013
22232020@unknown@formal@none@1@S@The Dow dropped to a quick 27-point loss, and to many traders it looked as if stocks were headed for yet another big tumble.@@@@1@24@@oe@2-2-2013
22232021@unknown@formal@none@1@S@More stocks opened over the ensuing half hour, as the 49 Big Board specialist firms in charge of keeping the market orderly groped to find buy orders from major brokerage firms to match the selling flood.@@@@1@36@@oe@2-2-2013
22232022@unknown@formal@none@1@S@Then, to make matters worse, computerized sell programs kicked in, hammering stocks into steeper losses.@@@@1@15@@oe@2-2-2013
22232023@unknown@formal@none@1@S@There was heavy stock-index arbitrage, as traders sold big baskets of stock and bought stock-index futures to profit from the price discrepancies between the two markets.@@@@1@26@@oe@2-2-2013
22232024@unknown@formal@none@1@S@This was a hangover from Friday, when Standard & Poor's 500-stock index futures had closed at a sharp discount to stocks.@@@@1@21@@oe@2-2-2013
22232025@unknown@formal@none@1@S@The onslaught of the program selling dashed any hopes that some of the big program trading firms would hold off until the market stabilized.@@@@1@24@@oe@2-2-2013
22232026@unknown@formal@none@1@S@They didn't.@@@@1@2@@oe@2-2-2013
22232027@unknown@formal@none@1@S@The Dow accelerated its slide, losing 63.52 in the first 40 minutes of trading.@@@@1@14@@oe@2-2-2013
22232028@unknown@formal@none@1@S@With program traders seemingly in charge, buyers backed away from the market and watched stocks fall.@@@@1@16@@oe@2-2-2013
22232029@unknown@formal@none@1@S@Then at 10:15 the Dow suddenly started to rebound, and when it shot upward it did so even faster than the early-morning fall.@@@@1@23@@oe@2-2-2013
22232030@unknown@formal@none@1@S@And this time, it wasn't just the program traders who were responsible.@@@@1@12@@oe@2-2-2013
22232031@unknown@formal@none@1@S@All the selling had pushed stocks to such cheap values that big investment banks and major money management firms started buying stocks heavily.@@@@1@23@@oe@2-2-2013
22232032@unknown@formal@none@1@S@The program traders were in there, too, of course.@@@@1@9@@oe@2-2-2013
22232033@unknown@formal@none@1@S@But according to one trader, the programmers "didn't look as dominant on the upside as on the downside because there was {also} a lot of bargain-hunting" by institutions.@@@@1@28@@oe@2-2-2013
22232034@unknown@formal@none@1@S@Roland M. Machold, director of the New Jersey Division of Investment, which oversees $29 billion in investments, said the "first thing we did was to double our orders" yesterday morning.@@@@1@30@@oe@2-2-2013
22232035@unknown@formal@none@1@S@"With the market down like this, we'll probably take another $50 million and put it in" the market.@@@@1@18@@oe@2-2-2013
22232036@unknown@formal@none@1@S@Trading in Walt Disney Co. particularly caught traders' eyes.@@@@1@9@@oe@2-2-2013
22232037@unknown@formal@none@1@S@According to Big Board officials, Disney had one of the biggest sell-order imbalances on Friday; it was one of the seven stocks that couldn't finish trading that day.@@@@1@28@@oe@2-2-2013
22232038@unknown@formal@none@1@S@The stock opened late at 114 1/2, down 8 1/2.@@@@1@10@@oe@2-2-2013
22232039@unknown@formal@none@1@S@But then it shot upward 7 1/2 as Goldman, Sachs & Co. stepped in and bought, traders said.@@@@1@18@@oe@2-2-2013
22232040@unknown@formal@none@1@S@However, Disney specialist Robert Fagenson said: "I would be surprised if Goldman represented 4% of the opening volume."@@@@1@18@@oe@2-2-2013
22232041@unknown@formal@none@1@S@Around Wall Street, trading desks were relieved that they could at least play the market yesterday, in contrast to Friday's gridlock.@@@@1@21@@oe@2-2-2013
22232042@unknown@formal@none@1@S@At Donaldson, Lufkin & Jenrette Inc., head equity trader Dudley Eppel said: "I think the opening was constructive.@@@@1@18@@oe@2-2-2013
22232043@unknown@formal@none@1@S@It was orderly.@@@@1@3@@oe@2-2-2013
22232044@unknown@formal@none@1@S@We put some orders together.@@@@1@5@@oe@2-2-2013
22232045@unknown@formal@none@1@S@There wasn't a lot of panic selling, either domestically or internationally. . . .@@@@1@14@@oe@2-2-2013
22232046@unknown@formal@none@1@S@Not like Friday where they just took {the market} apart."@@@@1@10@@oe@2-2-2013
22232047@unknown@formal@none@1@S@Still, the market hadn't yet crossed into positive territory, and traders were glum.@@@@1@13@@oe@2-2-2013
22232048@unknown@formal@none@1@S@But in another dramatic burst, the Dow tacked on 42 points in five minutes, and at 10:25 the index showed a gain of 5.74.@@@@1@24@@oe@2-2-2013
22232049@unknown@formal@none@1@S@On the Big Board floor and on trading desks, traders yelped their approval.@@@@1@13@@oe@2-2-2013
22232050@unknown@formal@none@1@S@Grinned Griffith Peck, a trader in Shearson Lehman Hutton Inc.'s OTC department: "I tell you, this market acts healthy."@@@@1@19@@oe@2-2-2013
22232051@unknown@formal@none@1@S@Around him, scores of traders seemed to get a burst of energy; their boss broke out bottles of Perrier water to cool them off.@@@@1@24@@oe@2-2-2013
22232052@unknown@formal@none@1@S@Among Big Board specialists, the cry was "Pull your offers" -- meaning that specialists soon expected to get higher prices for their shares.@@@@1@23@@oe@2-2-2013
22232053@unknown@formal@none@1@S@"It was bedlam on the upside," said one Big Board specialist.@@@@1@11@@oe@2-2-2013
22232054@unknown@formal@none@1@S@But not everybody was making money.@@@@1@6@@oe@2-2-2013
22232055@unknown@formal@none@1@S@The carnage on the Chicago Board Options Exchange, the nation's major options market, was heavy after the trading in S&P 100 stock-index options was halted Friday.@@@@1@26@@oe@2-2-2013
22232056@unknown@formal@none@1@S@Many market makers in the S&P 100 index options contract had bullish positions Friday, and when the shutdown came they were frozen with huge losses.@@@@1@25@@oe@2-2-2013
22232057@unknown@formal@none@1@S@Over the weekend, clearing firms told the Chicago market makers to get out of their positions at any cost Monday morning.@@@@1@21@@oe@2-2-2013
22232058@unknown@formal@none@1@S@"They were absolutely killed, slaughtered," said one Chicago-based options trader.@@@@1@10@@oe@2-2-2013
22232059@unknown@formal@none@1@S@Some traders said that the closely watched Major Market Index, whose 20 stocks mimic the Dow industrials, didn't lead yesterday's big rally.@@@@1@22@@oe@2-2-2013
22232060@unknown@formal@none@1@S@James Gallagher, a partner at specialist Fowler & Rosenau, said, "The difference between today and two years ago" -- "Terrible Tuesday," Oct. 20, 1987 -- "is that then we needed a savior to go into the Major Market Index, spend $2 million and get the program rally started.@@@@1@48@@oe@2-2-2013
22232061@unknown@formal@none@1@S@This time {institutions} saw the programs coming and backed away and backed away.@@@@1@13@@oe@2-2-2013
22232062@unknown@formal@none@1@S@Then when the market was at a technical level to buy, they came in with a vengeance."@@@@1@17@@oe@2-2-2013
22232063@unknown@formal@none@1@S@However, according to one analyst, the timing of Major Market Index futures buying just before the turnaround was similar to that of Terrible Tuesday.@@@@1@24@@oe@2-2-2013
22232064@unknown@formal@none@1@S@"Futures were pulling the stock market higher," said Donald Selkin, head of stock-index futures research at Prudential-Bache Securities Inc.@@@@1@19@@oe@2-2-2013
22232065@unknown@formal@none@1@S@Although the Big Board's specialist firms struggled through another highly volatile trading session, their performance yesterday was better than during Friday's late-afternoon chaos, according to traders and brokers who work with them.@@@@1@32@@oe@2-2-2013
22232066@unknown@formal@none@1@S@Specialists were criticized for their inability to maintain orderly markets during the Friday plunge.@@@@1@14@@oe@2-2-2013
22232067@unknown@formal@none@1@S@But yesterday, even with halts in such major blue-chip stocks as Merck, "we expected (the halts) and it wasn't too bad," said Donaldson's Mr. Eppel, who had been critical of the specialists' performance on Friday.@@@@1@35@@oe@2-2-2013
22232068@unknown@formal@none@1@S@According to a Big Board official, while many stocks opened late, there were subsequent trading halts in only three issues -- AMR, Merck and Valero Energy.@@@@1@26@@oe@2-2-2013
22232069@unknown@formal@none@1@S@Merck is one of the most important stocks in the Major Market Index.@@@@1@13@@oe@2-2-2013
22232070@unknown@formal@none@1@S@No sector of the market has been spared during the past two days' gyrations.@@@@1@14@@oe@2-2-2013
22232071@unknown@formal@none@1@S@Yet from the Dow industrials' high on Oct. 9 through Friday's plunge, relatively good performances have been turned in by real-estate, utilities, precious metals and life insurance stocks.@@@@1@28@@oe@2-2-2013
22232072@unknown@formal@none@1@S@And yesterday, the top performing industry group was oil field equipment issues.@@@@1@12@@oe@2-2-2013
22232073@unknown@formal@none@1@S@For example, Halliburton jumped 3 1/4 to 38, Schlumberger rose 2 1/2 to 43 1/4 and Baker Hughes rose 1 1/8 to 22.@@@@1@23@@oe@2-2-2013
22232074@unknown@formal@none@1@S@Because of the UAL and AMR tumbles, airlines were the weakest sector of the market yesterday.@@@@1@16@@oe@2-2-2013
22232075@unknown@formal@none@1@S@Philip Morris was the Big Board's most active issue, rising 2 1/4 to 43 1/4 on nearly eight million shares.@@@@1@20@@oe@2-2-2013
22232076@unknown@formal@none@1@S@Among other major issues, Coca-Cola Co. closed up 2 at 66 3/4 on 1.7 million shares and American Telephone & Telegraph rose 3 1/4 to 43 on nearly 7.8 million shares.@@@@1@31@@oe@2-2-2013
22232077@unknown@formal@none@1@S@Shares of International Business Machines, which reported earnings yesterday, finished at 103, up 1, after slipping below 100 during Friday's session for the first time in five years.@@@@1@28@@oe@2-2-2013
22232078@unknown@formal@none@1@S@Shares of three brokerage firms rose after they reported earnings.@@@@1@10@@oe@2-2-2013
22232079@unknown@formal@none@1@S@Merrill Lynch added 1 3/4 to 28, PaineWebber rose 3/4 to 18 1/2 and Bear Stearns rose 3/8 to 14 1/4.@@@@1@21@@oe@2-2-2013
22232080@unknown@formal@none@1@S@Federal National Mortgage Association, a recently hot stock, climbed 4 to 124 on nearly 1.6 million shares.@@@@1@17@@oe@2-2-2013
22232081@unknown@formal@none@1@S@At a news conference after the close of trading yesterday, the Big Board's Mr. Phelan and other exchange officials praised the performance of their computers and personnel.@@@@1@27@@oe@2-2-2013
22232082@unknown@formal@none@1@S@Mr. Phelan said that program trading strategies weren't responsible for triggering Friday's decline despite a jump in the use of the computer-driven strategies in recent months.@@@@1@26@@oe@2-2-2013
22232083@unknown@formal@none@1@S@Some 24 million of the more than 100 million shares traded in the final 90 minutes of Friday's session, when the plunge in stock prices was concentrated, were program-related, he said.@@@@1@31@@oe@2-2-2013
22232084@unknown@formal@none@1@S@Program trades make up 10% of the exchange's volume on an average day, but despite the increase Friday, it was "certainly not something you would say precipitated the market decline," Mr. Phelan said.@@@@1@33@@oe@2-2-2013
22232085@unknown@formal@none@1@S@Mr. Phelan expressed relief that the market rebounded yesterday.@@@@1@9@@oe@2-2-2013
22232086@unknown@formal@none@1@S@"Obviously, every time we get this kind of reaction, it's going to make everybody nervous, including me," he said.@@@@1@19@@oe@2-2-2013
22232087@unknown@formal@none@1@S@He said that exchange officials had conversations with Wall Street firms throughout the weekend and that "all the participants behaved very, very responsibly today."@@@@1@24@@oe@2-2-2013
22232088@unknown@formal@none@1@S@Meanwhile, Peter DaPuzzo, Shearson's head of retail equity trading, praised institutional investors in the OTC market, who were heavy buyers of the Nasdaq's biggest technology issues yesterday amid a flood of selling by other investors.@@@@1@35@@oe@2-2-2013
22232089@unknown@formal@none@1@S@"The institutions can't be criticized for their behavior," Mr. DaPuzzo said in an interview.@@@@1@14@@oe@2-2-2013
22232090@unknown@formal@none@1@S@"It was the opposite of what happened on Oct. 19.@@@@1@10@@oe@2-2-2013
22232091@unknown@formal@none@1@S@They used their judgment.@@@@1@4@@oe@2-2-2013
22232092@unknown@formal@none@1@S@They didn't panic during the first round of selling this morning.@@@@1@11@@oe@2-2-2013
22232093@unknown@formal@none@1@S@Instead, they bought on weakness and sold into the strength, which kept the market orderly.@@@@1@15@@oe@2-2-2013
22232094@unknown@formal@none@1@S@Maybe they learned from experience."@@@@1@5@@oe@2-2-2013
22232095@unknown@formal@none@1@S@Mr. Phelan said the performance of specialists during Friday's plunge was admirable, because out of 1,640 Big Board common stocks traded during the day only seven were closed and weren't reopened before the close.@@@@1@34@@oe@2-2-2013
22232096@unknown@formal@none@1@S@"They did an excellent job," Mr. Phelan said of the specialists.@@@@1@11@@oe@2-2-2013
22232097@unknown@formal@none@1@S@Wall Street traders on Friday had complained about the trading suspensions.@@@@1@11@@oe@2-2-2013
22232098@unknown@formal@none@1@S@James A. White and Sonja Steptoe contributed to this article.@@@@1@10@@oe@2-2-2013
22233001@unknown@formal@none@1@S@West Germany's Green Party joined its ideological soulmates Jeremy Rifkin and the Christic Institute in the legal battle to ground the Atlantis shuttle and its plutonium-powered Galileo probe to Jupiter.@@@@1@30@@oe@2-2-2013
22233002@unknown@formal@none@1@S@The anti-defense Greens wanted a Washington federal appeals court to block today's scheduled liftoff long enough for them to ask the World Court to "order" a permanent cancellation of the $1.5 billion flight.@@@@1@33@@oe@2-2-2013
22233003@unknown@formal@none@1@S@A three-judge appeals panel yesterday refused to comply, though liberal Judge Pat Wald went out of her way to deny that this was a "frivolous" case.@@@@1@26@@oe@2-2-2013
22233004@unknown@formal@none@1@S@Of course it was.@@@@1@4@@oe@2-2-2013
22233005@unknown@formal@none@1@S@NASA should now sue for fines against all three politico-plaintiffs, foreign and domestic, for bringing this mischievous case.@@@@1@18@@oe@2-2-2013
22234001@unknown@formal@none@1@S@A House-Senate conference approved a permanent smoking ban on all domestic airline routes within the continental U.S. and on all flights of six hours or less to Alaska and Hawaii.@@@@1@30@@oe@2-2-2013
22234002@unknown@formal@none@1@S@The restrictions would cover all but a small percentage of domestic air traffic, and represent a major expansion of the current smoking ban on flights of two hours or less.@@@@1@30@@oe@2-2-2013
22234003@unknown@formal@none@1@S@The exemption allowed on longer flights to Alaska and Hawaii appears to be largely a face-saving concession for the traditionally powerful tobacco industry, which has found itself increasingly isolated in the face of public pressure in recent years.@@@@1@38@@oe@2-2-2013
22234004@unknown@formal@none@1@S@By a 6-4 margin, House negotiators initially rejected last night a Senate provision covering all domestic flights.@@@@1@17@@oe@2-2-2013
22234005@unknown@formal@none@1@S@But the six-hour compromise was soon agreed to in subsequent discussions.@@@@1@11@@oe@2-2-2013
22234006@unknown@formal@none@1@S@As a practical matter, flights from the West Coast to Hawaii would be covered as they are under the time limit, but the language would exempt longer routes beginning, for example, in Chicago or on the East Coast.@@@@1@38@@oe@2-2-2013
22234007@unknown@formal@none@1@S@Within the Senate, the ban has had aggressive support from Sen. Frank Lautenberg (D., N.J.), who has used his position as a Senate Appropriations subcommittee chairman to garner votes for the initiative.@@@@1@32@@oe@2-2-2013
22234008@unknown@formal@none@1@S@The measure is attached to the more than $26 billion fiscal 1990 transportation bill within Mr. Lautenberg's jurisdiction, and the final compromise is laced with more than $205 million in road projects earmarked by members as well as funds sought by major airports, including Denver.@@@@1@45@@oe@2-2-2013
22234009@unknown@formal@none@1@S@From the outset, the tobacco industry has been uncertain as to what strategy to follow.@@@@1@15@@oe@2-2-2013
22234010@unknown@formal@none@1@S@But the industry retains support in the House leadership through the influence of grower states, such as North Carolina.@@@@1@19@@oe@2-2-2013
22234011@unknown@formal@none@1@S@Majority Whip William Gray owes a political debt to Southern agriculture lawmakers for his rise in the House, and the Philadelphia Democrat used his position in the conference to salvage the exemption from a total ban.@@@@1@36@@oe@2-2-2013
22234012@unknown@formal@none@1@S@Although the smoking provision has attracted the most public interest, the underlying bill was the subject of behind-the-scenes lobbying because of its impact on air transportation and the more mundane, but politically important, projects of members.@@@@1@36@@oe@2-2-2013
22234013@unknown@formal@none@1@S@In a stark lesson in the power of the appropriations committees, the House deliberately killed a handful of projects backed by lawmakers in Florida, Illinois and Pennsylvania who had voted against the panel leadership on the House floor.@@@@1@38@@oe@2-2-2013
22234014@unknown@formal@none@1@S@"Anybody can vote as they want," said Rep. William Lehman (D., Fla.), head of the House conferees.@@@@1@17@@oe@2-2-2013
22234015@unknown@formal@none@1@S@"But if you make a request, you should support the committee."@@@@1@11@@oe@2-2-2013
22234016@unknown@formal@none@1@S@Within the Federal Aviation Administration, the final bill promises to increase spending for facilities and equipment by more than 20% from last year, and total operations would rise to $3.84 billion -- a 12% boost.@@@@1@35@@oe@2-2-2013
22234017@unknown@formal@none@1@S@The facilities account includes $40 million for Denver's ambitious new airport, and the competition for these funds created shifting alliances between urban lawmakers representing established airports in Philadelphia and Michigan and the major carriers to Denver, United and Continental.@@@@1@39@@oe@2-2-2013
22234018@unknown@formal@none@1@S@Leery of the costs -- and, critics say, competition -- the airlines have sought to gain leverage over the city of Denver.@@@@1@22@@oe@2-2-2013
22234019@unknown@formal@none@1@S@Texas Air Corp., which owns Continental, and the Air Transport Association were prominent in the lobbying.@@@@1@16@@oe@2-2-2013
22234020@unknown@formal@none@1@S@The industry sought to impose conditions that would have delayed funds for the project until Denver and the airlines had agreed to leases for 50% of the gates.@@@@1@28@@oe@2-2-2013
22234021@unknown@formal@none@1@S@But this was rejected in favor of much looser language directing the Transportation Department to review the costs of the first phase, expected to cost about $2 billion.@@@@1@28@@oe@2-2-2013
22234022@unknown@formal@none@1@S@Though smaller in total dollars, the conference agreed to preserve an estimated $30.6 million in controversial subsidies to carriers serving rural or isolated airports.@@@@1@24@@oe@2-2-2013
22234023@unknown@formal@none@1@S@The sum is more than double what the House had approved for the program, but the list of qualified airports would be cut by 22 under new distance requirements and limits on the level of subsidy.@@@@1@36@@oe@2-2-2013
22234024@unknown@formal@none@1@S@Congress previously cut six airports this year.@@@@1@7@@oe@2-2-2013
22234025@unknown@formal@none@1@S@The impact of the changes is to eliminate many of the most excessive cases where the government has been paying more than $200 for each passenger in subsidies.@@@@1@28@@oe@2-2-2013
22234026@unknown@formal@none@1@S@Among rail and highway accounts, the agreement provides $615 million for Amtrak, including $85 million for capital improvements.@@@@1@18@@oe@2-2-2013
22234027@unknown@formal@none@1@S@And federal-formula grants for mass transit would be effectively frozen at $1.625 billion, or $20 million more than last fiscal year.@@@@1@21@@oe@2-2-2013
22235001@unknown@formal@none@1@S@Enjoying several blockbuster movie hits including "Batman," Los Angeles-based Guber-Peters Entertainment Co. reported earnings for the first quarter ended Aug. 31 of $5.8 million, or 50 cents a share, compared with a year-earlier loss.@@@@1@34@@oe@2-2-2013
22235002@unknown@formal@none@1@S@Sony Corp., which has offered to acquire the movie-production company, is seeking to free its top executives, Peter Guber and Jon Peters, from an exclusive agreement with Time Warner Inc.'s Warner Communications Inc. so they can run Columbia Pictures Entertainment Inc.@@@@1@41@@oe@2-2-2013
22235003@unknown@formal@none@1@S@Sony two weeks ago agreed to acquire Columbia for $3.4 billion, or $27 a share.@@@@1@15@@oe@2-2-2013
22235004@unknown@formal@none@1@S@Warner sued Sony and Guber-Peters late last week; Sony and Guber-Peters have countersued, charging Warner with attempting to interfere in Sony's acquisition of the two companies.@@@@1@26@@oe@2-2-2013
22235005@unknown@formal@none@1@S@Guber-Peters's net income in the latest quarter compared with a net loss of $6.9 million, or 62 cents a share, in the year-earlier period.@@@@1@24@@oe@2-2-2013
22235006@unknown@formal@none@1@S@The company said revenue rose 138%, to $10.9 million from $4.6 million, reflecting the success of its movies "Gorillas in the Mist" and "Rainman," as well as the box-office smash "Batman.@@@@1@31@@oe@2-2-2013
22236001@unknown@formal@none@1@S@A group including Jon M. Huntsman of Salt Lake City, said it boosted its stake in Aristech Chemical Corp. to 8.36% of the the common shares outstanding.@@@@1@27@@oe@2-2-2013
22236002@unknown@formal@none@1@S@As previously reported, Huntsman Holdings Corp., owned by Jon M. Huntsman and other members of his family, proposed that Banstar Corp., an affiliate of Huntsman Holdings, acquire Aristech in a friendly transaction for $25-a-share in cash, or $817.5 million.@@@@1@39@@oe@2-2-2013
22236003@unknown@formal@none@1@S@In a filing with the Securities and Exchange Commission, the Huntsman group said it controls 2,720,675 Aristech common shares, including 306,000 shares bought from Aug. 21 to Oct. 13 for $20 to $20.875 per share.@@@@1@35@@oe@2-2-2013
22236004@unknown@formal@none@1@S@Officials at Aristech, based in Pittsburgh, declined comment.@@@@1@8@@oe@2-2-2013
22237001@unknown@formal@none@1@S@Congress has been critical of the Bush administration for not sending enough aid to Poland, so it is getting ready to send its own version of a CARE package.@@@@1@29@@oe@2-2-2013
22237002@unknown@formal@none@1@S@Last month, the Senate voted to send a delegation of congressional staffers to Poland to assist its legislature, the Sejm, in democratic procedures.@@@@1@23@@oe@2-2-2013
22237003@unknown@formal@none@1@S@Senator Pete Domenici calls this effort "the first gift of democracy."@@@@1@11@@oe@2-2-2013
22237004@unknown@formal@none@1@S@The Poles might do better to view it as a Trojan Horse.@@@@1@12@@oe@2-2-2013
22237005@unknown@formal@none@1@S@It is the vast shadow government of 15,000 congressional staffers that helps create such legislative atrocities as the 1,376 page, 13-pound reconciliation bill that claimed to be the budget of the United States.@@@@1@33@@oe@2-2-2013
22237006@unknown@formal@none@1@S@Maybe after the staffers explain their work to the Poles, they'd be willing to come back and do the same for the American people.@@@@1@24@@oe@2-2-2013
22238001@unknown@formal@none@1@S@Waterford Wedgwood PLC, a financially troubled Irish maker of fine crystal and Wedgwood china, reported that its pretax loss for the first six months widened to 10.6 million Irish punts ($14.9 million) from 5.8 million Irish punts a year earlier.@@@@1@40@@oe@2-2-2013
22238002@unknown@formal@none@1@S@The results for the half were worse than market expectations, which suggested an interim loss of around 10 million Irish punts.@@@@1@21@@oe@2-2-2013
22238003@unknown@formal@none@1@S@In a sharply weaker London market yesterday, Waterford shares were down 15 pence at 50 pence (79 cents).@@@@1@18@@oe@2-2-2013
22238004@unknown@formal@none@1@S@The company reported a loss after taxation and minority interests of 14 million Irish punts, compared with a loss of 9.3 million Irish punts for the year-earlier period.@@@@1@28@@oe@2-2-2013
22238005@unknown@formal@none@1@S@There weren't any extraordinary items.@@@@1@5@@oe@2-2-2013
22238006@unknown@formal@none@1@S@Sales for the total group rose 27% to 168.1 million Irish punts compared with 132.6 million Irish punts a year ago.@@@@1@21@@oe@2-2-2013
22238007@unknown@formal@none@1@S@Waterford has decided against paying an interim dividend.@@@@1@8@@oe@2-2-2013
22238008@unknown@formal@none@1@S@Waterford said the appointment of a new management team and the signing of a comprehensive labor agreement are expected to enhance the company's long-term prospects.@@@@1@25@@oe@2-2-2013
22239001@unknown@formal@none@1@S@The sudden "flight to quality" that triggered Friday's explosive bond-market rally was reversed yesterday in a "flight from quality" rout.@@@@1@20@@oe@2-2-2013
22239002@unknown@formal@none@1@S@The setback, in which Treasury bond prices plummeted, reflected a rebound in the stock market and profit-taking.@@@@1@17@@oe@2-2-2013
22239003@unknown@formal@none@1@S@"It was a pretty wild day.@@@@1@6@@oe@2-2-2013
22239004@unknown@formal@none@1@S@Our markets were closely tied to the stock market," said Joel Kazis, manager of trading at Smith Barney, Harris Upham & Co.@@@@1@22@@oe@2-2-2013
22239005@unknown@formal@none@1@S@"Friday's flight to quality was no longer needed once the stock market found its legs," he said.@@@@1@17@@oe@2-2-2013
22239006@unknown@formal@none@1@S@Some fixed-income investors had expected a further drop in stock prices after the nearly 200-point drop in the Dow Jones Industrial Average on Friday.@@@@1@24@@oe@2-2-2013
22239007@unknown@formal@none@1@S@That caused investors to flee stocks and buy high-quality Treasury bonds, which are safer than other types of securities.@@@@1@19@@oe@2-2-2013
22239008@unknown@formal@none@1@S@But when stocks began to climb instead, prices of Treasury bonds declined.@@@@1@12@@oe@2-2-2013
22239009@unknown@formal@none@1@S@Contributing to the selling pressure were dispatches by several investment firms advising clients to boost their stock holdings and reduce the size of their cash or bond portfolios.@@@@1@28@@oe@2-2-2013
22239010@unknown@formal@none@1@S@Among the firms were Merrill Lynch & Co. and Dean Witter Reynolds Inc.@@@@1@13@@oe@2-2-2013
22239011@unknown@formal@none@1@S@The bond market seemed to ignore evidence that the Federal Reserve eased credit conditions slightly by allowing the federal funds rate to drift as low as 8 1/2%.@@@@1@28@@oe@2-2-2013
22239012@unknown@formal@none@1@S@The closely watched rate on federal funds, or overnight loans between banks, slid to about 8 3/4% last week, down from its perceived target level of about 9%.@@@@1@28@@oe@2-2-2013
22239013@unknown@formal@none@1@S@The rate is considered an early signal of changes in Fed policy.@@@@1@12@@oe@2-2-2013
22239014@unknown@formal@none@1@S@Traders said yesterday's modest easing didn't stir much enthusiasm because it had been widely expected.@@@@1@15@@oe@2-2-2013
22239015@unknown@formal@none@1@S@In fact, some economists contend that the latest easing started last week.@@@@1@12@@oe@2-2-2013
22239016@unknown@formal@none@1@S@Others note that some investors were disappointed because they had expected a more aggressive easing.@@@@1@15@@oe@2-2-2013
22239017@unknown@formal@none@1@S@The Treasury's benchmark 30-year bond, ended about 1 3/4 points lower, or down about $17.50 for each $1,000 face amount.@@@@1@20@@oe@2-2-2013
22239018@unknown@formal@none@1@S@The reversal was even more evident among shorter-term Treasury securities.@@@@1@10@@oe@2-2-2013
22239019@unknown@formal@none@1@S@After Treasury bill rates plummeted as much as 0.70 percentage point on Friday, they gave back three-fourths of that amount yesterday.@@@@1@21@@oe@2-2-2013
22239020@unknown@formal@none@1@S@The bond-equivalent yield on three-month Treasury bills, for example, was quoted late yesterday at 7.72%, compared with 7.16% Friday.@@@@1@19@@oe@2-2-2013
22239021@unknown@formal@none@1@S@Investment-grade corporate bonds, mortgage-backed securities and municipal bonds also fell.@@@@1@10@@oe@2-2-2013
22239022@unknown@formal@none@1@S@But prices of junk bonds, which were battered Friday in near standstill trading, rebounded to post small gains after a volatile trading session.@@@@1@23@@oe@2-2-2013
22239023@unknown@formal@none@1@S@Junk bonds opened as much as four points lower but staged a modest comeback as stock prices firmed.@@@@1@18@@oe@2-2-2013
22239024@unknown@formal@none@1@S@Some traders said the high-yield market was helped by active institutional buying.@@@@1@12@@oe@2-2-2013
22239025@unknown@formal@none@1@S@In particular, they said, firms such as First Boston Corp. and Drexel Burnham Lambert Inc. began making a market in junk issues early in the session when prices hit severely depressed levels.@@@@1@32@@oe@2-2-2013
22239026@unknown@formal@none@1@S@"I think the willingness of securities companies to make markets for high-yield issues improved the sentiment for junk bonds," said John Lonski, an economist at Moody's Investors Service Inc.@@@@1@29@@oe@2-2-2013
22239027@unknown@formal@none@1@S@U.S. Treasury bonds were higher in overnight trading in Japan, which opened at about 7:30 p.m. EDT.@@@@1@17@@oe@2-2-2013
22239028@unknown@formal@none@1@S@The benchmark 30-year bond, for example rose one point in early Japanese trading in reaction to a quick 600-point drop in the Tokyo stock market.@@@@1@25@@oe@2-2-2013
22239029@unknown@formal@none@1@S@But as Japanese stocks rebounded, Treasurys retreated and ended just modestly higher.@@@@1@12@@oe@2-2-2013
22239030@unknown@formal@none@1@S@Many U.S. trading operations, wanting to keep a watchful eye on Japanese trading as an indication of where U.S. trading would begin, were fully staffed during the Tokyo trading session.@@@@1@30@@oe@2-2-2013
22239031@unknown@formal@none@1@S@"Most of the action was during the night session," said Michael Moore, trading manager at Continental Bank.@@@@1@17@@oe@2-2-2013
22239032@unknown@formal@none@1@S@Jay Goldinger, who often trades overnight for Capital Insight Inc., Beverly Hills, Calif., said trading in Tokyo was "very active" but highly volatile.@@@@1@23@@oe@2-2-2013
22239033@unknown@formal@none@1@S@"We went down 3/4 point in 10 minutes right before lunch, then after lunch we went up 3/4 point in 12 minutes," he said.@@@@1@24@@oe@2-2-2013
22239034@unknown@formal@none@1@S@In Tokyo, trading is halted during lunchtime.@@@@1@7@@oe@2-2-2013
22239035@unknown@formal@none@1@S@Tokyo's market turned out to be a bad bellwether for U.S. trading.@@@@1@12@@oe@2-2-2013
22239036@unknown@formal@none@1@S@When the market opened here, bonds prices fell as the stock market regained strength.@@@@1@14@@oe@2-2-2013
22239037@unknown@formal@none@1@S@The bond market's focus on stock activity was so strong yesterday that it overshadowed today's slate of economic data, which includes the government's report on August U.S. merchandise trade and September industrial production.@@@@1@33@@oe@2-2-2013
22239038@unknown@formal@none@1@S@Industrial production is expected to have declined 0.2%, according to a consensus of economists surveyed by Dow Jones Capital Markets Report.@@@@1@21@@oe@2-2-2013
22239039@unknown@formal@none@1@S@The August trade deficit is expected to have widened to $9.1 billion from $7.58 billion in July.@@@@1@17@@oe@2-2-2013
22239040@unknown@formal@none@1@S@A widening of that magnitude, said one New York trader, is "not a favorable number. . . .@@@@1@18@@oe@2-2-2013
22239041@unknown@formal@none@1@S@It could do damage to us."@@@@1@6@@oe@2-2-2013
22239042@unknown@formal@none@1@S@Meanwhile, agency supply is expected to weigh heavily on the market today when the Federal Home Loan Bank prices a $2.3 billion offering of one-year, three-year, five-year and 10-year maturities.@@@@1@30@@oe@2-2-2013
22239043@unknown@formal@none@1@S@Tomorrow, the Resolution Funding Corp. will provide details of its first bond issue, which is expected to total between $4 billion and $6 billion and carry a maturity greater than 20 years.@@@@1@32@@oe@2-2-2013
22239044@unknown@formal@none@1@S@Resolution Funding is a division of Resolution Trust Corp., the new federal agency created to bail out the nation's troubled thrifts.@@@@1@21@@oe@2-2-2013
22239045@unknown@formal@none@1@S@And this week the Tennessee Valley Authority plans to price a $3 billion offering, its first public debt borrowing in 15 years.@@@@1@22@@oe@2-2-2013
22239046@unknown@formal@none@1@S@"There's lots of supply," the New York trader said.@@@@1@9@@oe@2-2-2013
22239047@unknown@formal@none@1@S@"We have a couple or three tough weeks coming."@@@@1@9@@oe@2-2-2013
22239048@unknown@formal@none@1@S@Treasury Securities@@@@1@2@@oe@2-2-2013
22239049@unknown@formal@none@1@S@Prices of Treasury bonds tumbled in moderate to active trading.@@@@1@10@@oe@2-2-2013
22239050@unknown@formal@none@1@S@The benchmark 30-year Treasury bond was quoted late at a price of 101 19/32, compared with a closing price of 103 12/32 Friday.@@@@1@23@@oe@2-2-2013
22239051@unknown@formal@none@1@S@The yield on the benchmark issue rose to 7.97% from 7.82%.@@@@1@11@@oe@2-2-2013
22239052@unknown@formal@none@1@S@The latest 10-year notes were quoted late at 100 3/32 for a yield of 7.97%, compared with 101 9/32 to yield 7.84%.@@@@1@22@@oe@2-2-2013
22239053@unknown@formal@none@1@S@Short-term interest rates fell yesterday at the government's weekly Treasury bill auction.@@@@1@12@@oe@2-2-2013
22239054@unknown@formal@none@1@S@The average discount rate on new three-month Treasury bills was 7.37%, the lowest since the average of 7.36% at the auction on Oct. 17, 1988.@@@@1@25@@oe@2-2-2013
22239055@unknown@formal@none@1@S@The average discount rate was 7.42% on new six-month bills, the lowest since the average of 7.35% at the auction on July 31, 1989.@@@@1@24@@oe@2-2-2013
22239056@unknown@formal@none@1@S@Here are auction details:@@@@1@4@@oe@2-2-2013
22239057@unknown@formal@none@1@S@Rates are determined by the difference between the purchase price and face value.@@@@1@13@@oe@2-2-2013
22239058@unknown@formal@none@1@S@Thus, higher bidding narrows the investor's return while lower bidding widens it.@@@@1@12@@oe@2-2-2013
22239059@unknown@formal@none@1@S@The percentage rates are calculated on a 360-day year, while the coupon-equivalent yield is based on a 365-day year.@@@@1@19@@oe@2-2-2013
22239060@unknown@formal@none@1@S@Both issues are dated Oct. 19.@@@@1@6@@oe@2-2-2013
22239061@unknown@formal@none@1@S@The 13-week bills mature Jan. 18, 1990, and the 26-week bills mature April 19, 1990.@@@@1@15@@oe@2-2-2013
22239062@unknown@formal@none@1@S@Corporate Issues@@@@1@2@@oe@2-2-2013
22239063@unknown@formal@none@1@S@Investment-grade corporate bonds ended one to 1 1/2 point lower.@@@@1@10@@oe@2-2-2013
22239064@unknown@formal@none@1@S@There were no new issues.@@@@1@5@@oe@2-2-2013
22239065@unknown@formal@none@1@S@Foreign Bonds@@@@1@2@@oe@2-2-2013
22239066@unknown@formal@none@1@S@Foreign bonds surged as the dollar weakened against most major currencies.@@@@1@11@@oe@2-2-2013
22239067@unknown@formal@none@1@S@Among benchmark issues: -- Japan's No. 111 4.6% bond due 1998 ended on brokers screens at 96.15, up 1.17 point.@@@@1@20@@oe@2-2-2013
22239068@unknown@formal@none@1@S@The yield was 5.245%.@@@@1@4@@oe@2-2-2013
22239069@unknown@formal@none@1@S@-- West Germany's 6 3/4% issue due June 1999 ended at 98.30, up 0.91 point to yield 6.99%.@@@@1@18@@oe@2-2-2013
22239070@unknown@formal@none@1@S@-- Britain's 11 3/4% bond due 2003/2007 ended 1 1/8 higher at 111 19/32 to yield 10.12%, while the 11 3/4% notes due 1991 rose 21/32 to 98 26/32 to yield 12.74%.@@@@1@32@@oe@2-2-2013
22239071@unknown@formal@none@1@S@Mortgage-Backed Securities@@@@1@2@@oe@2-2-2013
22239072@unknown@formal@none@1@S@Mortgage securities gave up most of Friday's gains as active issues ended 24/32 to 30/32 point lower.@@@@1@17@@oe@2-2-2013
22239073@unknown@formal@none@1@S@Dealers said morning activity was hectic as prices dropped in response to gains in the stock market and losses in Treasury securities, but trading slowed to moderate levels in the afternoon.@@@@1@31@@oe@2-2-2013
22239074@unknown@formal@none@1@S@Government National Mortgage Association 9% securities for November delivery were quoted late yesterday at 98 4/32, down 30/32 from Friday; 9 1/2% securities were down 27/32 at 100 5/32; and 10% securities were at 102 2/32, off 24/32.@@@@1@38@@oe@2-2-2013
22239075@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. 9% securities were at 97 1/4, down 3/4.@@@@1@13@@oe@2-2-2013
22239076@unknown@formal@none@1@S@On Friday, mortgage issues gained as much as 1 5/32.@@@@1@10@@oe@2-2-2013
22239077@unknown@formal@none@1@S@Late yesterday Ginnie Mae 9% securities were yielding 9.39% to a 12-year average life assumption, as the spread above the Treasury 10-year note narrowed 0.01 percentage point to 1.42.@@@@1@29@@oe@2-2-2013
22239078@unknown@formal@none@1@S@Traders said there were some busy dealings in Freddie Mac and Federal National Mortgage Association securities because underwriters from last week's heavy slate of real estate mortgage investment conduit issues moved to gather collateral for new deals.@@@@1@37@@oe@2-2-2013
22239079@unknown@formal@none@1@S@Offsetting the Remic-related purchases were continued heavy sales by mortgage originators, which are producing increased amounts of fixed-rate mortgage-backed issues with lower rates.@@@@1@23@@oe@2-2-2013
22239080@unknown@formal@none@1@S@There was no new-issue activity in the derivative market.@@@@1@9@@oe@2-2-2013
22239081@unknown@formal@none@1@S@Municipals@@@@1@1@@oe@2-2-2013
22239082@unknown@formal@none@1@S@Rebounding stocks and weaker Treasury prices drove municipal bonds 1/4 to 3/4 point lower in late dealings.@@@@1@17@@oe@2-2-2013
22239083@unknown@formal@none@1@S@The session losses left municipal dollar bonds close to where they were before the 190.58-point drop in the Dow Jones Industrial Average Friday prompted a capital markets rally.@@@@1@28@@oe@2-2-2013
22239084@unknown@formal@none@1@S@Trading was hectic during the morning, with players trying to gauge whether equities would continue Friday's free fall or stabilize after a brief spot of weakness.@@@@1@26@@oe@2-2-2013
22239085@unknown@formal@none@1@S@Tax-exempts started the session flat to a touch higher on anticipation of further stock market erosion, but bond prices rapidly turned south as it became more clear that a repeat of the October 1987 crash wasn't at hand.@@@@1@38@@oe@2-2-2013
22239086@unknown@formal@none@1@S@Professionals dominated municipal trading throughout the session.@@@@1@7@@oe@2-2-2013
22239087@unknown@formal@none@1@S@Traders said retail investors seemed to be hugging the sidelines until a measure of volatility is wrung out of the market.@@@@1@21@@oe@2-2-2013
22239088@unknown@formal@none@1@S@New Jersey Turnpike Authority's 7.20% issue of 2018 was off 3/4 at 98 1/2 bid, yielding 7.32%, up 0.07 percentage point from late Friday.@@@@1@24@@oe@2-2-2013
22239089@unknown@formal@none@1@S@Florida Board of Education's 7 1/4% issue of 2023 was 5/8 point weaker at 99 1/2 bid.@@@@1@17@@oe@2-2-2013
22239090@unknown@formal@none@1@S@The 7 1/8% issue of Triborough Bridge and Tunnel Authority of New York, due 2019, was off 5/8 at 98 1/8 bid.@@@@1@22@@oe@2-2-2013
22239091@unknown@formal@none@1@S@And Fairfax County, Va., Water Authority's 7 1/4% issue of 2027 was down 3/4 at 99 7/8 bid.@@@@1@18@@oe@2-2-2013
22239092@unknown@formal@none@1@S@Serial bond yields were up about 0.05 percentage point.@@@@1@9@@oe@2-2-2013
22240001@unknown@formal@none@1@S@BMA Corp., Kansas City, Mo., said it's weighing "strategic alternatives," for its Business Men's Assurance Co. unit, and is contacting possible buyers of the life and health insurance operation.@@@@1@29@@oe@2-2-2013
22240002@unknown@formal@none@1@S@A BMA spokesman said "runaway medical costs" have made health insurance "a significant challenge," and margins also have been pinched by changes in the mix of life-insurance products consumers now demand.@@@@1@31@@oe@2-2-2013
22240003@unknown@formal@none@1@S@The Business Men's Assurance unit represented about $288 million of the company's $488 million in 1988 revenue, and the unit's operating income was about $10 million, said the spokesman.@@@@1@29@@oe@2-2-2013
22240004@unknown@formal@none@1@S@BMA's investment banker, Alex. Brown & Sons Inc., has been authorized to contact possible buyers for the unit.@@@@1@18@@oe@2-2-2013
22241001@unknown@formal@none@1@S@Laidlaw Transportation Ltd. said it raised its stake in ADT Ltd. of Bermuda to 29.4% from 28%.@@@@1@17@@oe@2-2-2013
22241002@unknown@formal@none@1@S@A spokesman for Laidlaw declined to disclose the price the Toronto transportation and waste services concern paid for the additional shares, which he said were acquired "over the last couple of weeks."@@@@1@32@@oe@2-2-2013
22241003@unknown@formal@none@1@S@The spokesman said Laidlaw wouldn't increase its stake in ADT beyond 30% "without a great deal of thought" because of British takeover regulations that require a company acquiring more than 30% to extend an offer to the rest of the company's shareholders.@@@@1@42@@oe@2-2-2013
22241004@unknown@formal@none@1@S@ADT, a security services and auctions company, trades on London's Stock Exchange.@@@@1@12@@oe@2-2-2013
22241005@unknown@formal@none@1@S@Laidlaw is 47%-controlled by Canadian Pacific Ltd., a Montreal transportation, resources and industrial holding concern.@@@@1@15@@oe@2-2-2013
22242001@unknown@formal@none@1@S@Nintendo Co., a Japanese maker of video games, electronic information systems and playing cards, posted a 23% unconsolidated surge in pretax profit to 61.41 billion yen ($429 million) from 50 billion yen ($349.9 million) for the fiscal year ended Aug. 31.@@@@1@41@@oe@2-2-2013
22242002@unknown@formal@none@1@S@Sales surged 40% to 250.17 billion yen from 178.61 billion.@@@@1@10@@oe@2-2-2013
22242003@unknown@formal@none@1@S@Net income rose 11% to 29.62 billion yen from 26.68 billion.@@@@1@11@@oe@2-2-2013
22242004@unknown@formal@none@1@S@Pershare net fell to 423.3 yen from 457.7 yen because of expenses and capital adjustments.@@@@1@15@@oe@2-2-2013
22242005@unknown@formal@none@1@S@Without detailing specific product breakdowns, Nintendo credited its bullish upsurge in sales -- including advanced computer games and television entertainment systems -- to surging "leisure-oriented" sales in foreign markets.@@@@1@29@@oe@2-2-2013
22242006@unknown@formal@none@1@S@Export sales for leisure items alone, for instance, totaled 184.74 billion yen in the 12 months, up from 106.06 billion in the previous fiscal year.@@@@1@25@@oe@2-2-2013
22242007@unknown@formal@none@1@S@Domestic leisure sales, however, were lower.@@@@1@6@@oe@2-2-2013
22243001@unknown@formal@none@1@S@Hertz Corp. of Park Ridge, N.J., said it retained Merrill Lynch Capital Markets to sell its Hertz Equipment Rental Corp. unit.@@@@1@21@@oe@2-2-2013
22243002@unknown@formal@none@1@S@"There is no pressing need to sell the unit, but we are doing it so we can concentrate on our core business, renting automobiles in the U.S. and abroad," said William Slider, Hertz's executive vice president.@@@@1@36@@oe@2-2-2013
22243003@unknown@formal@none@1@S@"We are only going to sell at the right price."@@@@1@10@@oe@2-2-2013
22243004@unknown@formal@none@1@S@Hertz Equipment had operating profit before depreciation of $90 million on revenue of $150 million in 1988.@@@@1@17@@oe@2-2-2013
22243005@unknown@formal@none@1@S@The closely held Hertz Corp. had annual revenue of close to $2 billion in 1988, of which $1.7 billion was contributed by its Hertz Rent A Car operations world-wide.@@@@1@29@@oe@2-2-2013
22243006@unknown@formal@none@1@S@Hertz Equipment is a major supplier of rental equipment in the U.S., France, Spain and the U.K.@@@@1@17@@oe@2-2-2013
22243007@unknown@formal@none@1@S@It supplies commercial and industrial equipment including earth-moving, aerial, compaction and electrical equipment, compressors, cranes, forklifts and trucks.@@@@1@18@@oe@2-2-2013
22244001@unknown@formal@none@1@S@Interspec Inc. reported a net loss of $2.4 million for the fiscal third quarter ended Aug. 31.@@@@1@17@@oe@2-2-2013
22244002@unknown@formal@none@1@S@It said the loss resulted from startup and introduction costs related to a new medical ultrasound equipment system.@@@@1@18@@oe@2-2-2013
22244003@unknown@formal@none@1@S@In the year-earlier quarter, the company reported net income of $955,000, or 15 cents a share.@@@@1@16@@oe@2-2-2013
22244004@unknown@formal@none@1@S@The manufacturer of ultrasound diagnostic systems, based in Ambler, Pa., reported a nine-month net loss of $2.43 million compared with net income of $2.71 million, or 44 cents a share, for the nine-month period a year earlier.@@@@1@37@@oe@2-2-2013
22244005@unknown@formal@none@1@S@In over-the-counter trading, Interspec fell 37.5 cents to $4.25.@@@@1@9@@oe@2-2-2013
22245001@unknown@formal@none@1@S@Allegheny Ludlum Corp. expects to report third-quarter net of about $34 million, or $1.50 a share, down from $38.4 million, or $1.70 a share, a year earlier, Richard P. Simmons, chairman and chief executive officer, told institutional investors in New York.@@@@1@41@@oe@2-2-2013
22245002@unknown@formal@none@1@S@Sales for the Pittsburgh-based producer of specialty steels and other materials fell to about $265 million in the third quarter from $320.5 million a year earlier, he said.@@@@1@28@@oe@2-2-2013
22245003@unknown@formal@none@1@S@He said the third-quarter estimate indicates profit for the nine months of $4.65 a share, "almost equal to the full-year 1988 earnings" of $108.6 million, or $4.81 a share.@@@@1@29@@oe@2-2-2013
22245004@unknown@formal@none@1@S@In the first nine months of 1988, net was $85 million, or $3.76 a share.@@@@1@15@@oe@2-2-2013
22245005@unknown@formal@none@1@S@Mr. Simmons said the third-quarter results reflect continued improvements in productivity and operating margins.@@@@1@14@@oe@2-2-2013
22245006@unknown@formal@none@1@S@He said capital spending next year will rise to about $45 million from about $35 million this year.@@@@1@18@@oe@2-2-2013
22246001@unknown@formal@none@1@S@U.S. Banknote Co. said it again extended the expiration date of its $7-a-share tender offer for International Banknote Co. to Nov. 15.@@@@1@22@@oe@2-2-2013
22246002@unknown@formal@none@1@S@U.S. Banknote said it is in negotiations to sell "certain facilities," which it didn't name, to a third party, and it needs the extension to try to reach a definitive agreement on the sale.@@@@1@34@@oe@2-2-2013
22246003@unknown@formal@none@1@S@U.S. Banknote said it believes the sale, if completed, apparently would satisfy antitrust issues raised by the U.S. Justice Department about U.S. Banknote's offer to buy International Banknote.@@@@1@28@@oe@2-2-2013
22246004@unknown@formal@none@1@S@Both of the New York-based companies print stock certificates and currency.@@@@1@11@@oe@2-2-2013
22246005@unknown@formal@none@1@S@U.S. Banknote said "there can be no assurance" a sale agreement would be concluded.@@@@1@14@@oe@2-2-2013
22246006@unknown@formal@none@1@S@It also said the tender offer would probably have to be extended further to complete financing arrangements.@@@@1@17@@oe@2-2-2013
22246007@unknown@formal@none@1@S@U.S. Banknote said Citibank extended the expiration date of its commitment for senior secured financing to Nov. 15.@@@@1@18@@oe@2-2-2013
22246008@unknown@formal@none@1@S@The offer, made June 1, has been extended several times.@@@@1@10@@oe@2-2-2013
22246009@unknown@formal@none@1@S@Closely held U.S. Banknote offered the $7 a share, or $126 million, for as many as 14.9 million shares, or 78.6%, of International Banknote's shares outstanding.@@@@1@26@@oe@2-2-2013
22246010@unknown@formal@none@1@S@U.S. Banknote said that as of Oct. 13, 16.1 million shares, or about 84.3% of the fully diluted shares outstanding, had been tendered.@@@@1@23@@oe@2-2-2013
22247001@unknown@formal@none@1@S@Gitano Group Inc. said it agreed to buy 50% of Regatta Sport Ltd., a closely held apparel maker, with the assumption of $3 million of contingent debt.@@@@1@27@@oe@2-2-2013
22247002@unknown@formal@none@1@S@Under the terms of the contract, New York-based Gitano has the option to acquire the remaining 50% of Regatta, a maker of men's and women's clothes sold primarily in department stores, under certain conditions.@@@@1@34@@oe@2-2-2013
22247003@unknown@formal@none@1@S@That 50% is now held by Clifford Parker, Regatta's president and chief executive officer, who will continue to manage Regatta's operations under Gitano.@@@@1@23@@oe@2-2-2013
22247004@unknown@formal@none@1@S@In 1989, Regatta will have sales "in excess of $10 million" and will show a profit, Mr. Parker said.@@@@1@19@@oe@2-2-2013
22247005@unknown@formal@none@1@S@Gitano, which makes budget-priced apparel sold mainly through mass merchandisers like K mart and Wal-Mart, said the Regatta acquisition will enhance its strategy to expand into department stores.@@@@1@28@@oe@2-2-2013
22247006@unknown@formal@none@1@S@This fall, Gitano began manufacturing moderately priced clothes aimed at department stores under the Gloria Vanderbilt trademark, which Gitano recently acquired.@@@@1@21@@oe@2-2-2013
22248001@unknown@formal@none@1@S@Enron Corp., Houston, said the sale of preference units of its newly formed Enron NGL Partners L.P. master limited partnership subsidiary will result in an undetermined gain in the fourth quarter.@@@@1@31@@oe@2-2-2013
22248002@unknown@formal@none@1@S@In the year-ago quarter, the natural gas concern had net income of $25.2 million, or 34 cents a share, on revenue of about $1.46 billion.@@@@1@25@@oe@2-2-2013
22248003@unknown@formal@none@1@S@Those results included a $2.7 million charge related to the retirement of debt.@@@@1@13@@oe@2-2-2013
22248004@unknown@formal@none@1@S@In a related move, Enron said it increased the number of the partnership's units it will offer to 6,930,000 from 5,500,000.@@@@1@21@@oe@2-2-2013
22248005@unknown@formal@none@1@S@The old and revised numbers both include over-allotment provisions.@@@@1@9@@oe@2-2-2013
22248006@unknown@formal@none@1@S@Enron said each unit will be priced in the $19-to-$21 range and will represent about 80% of the partnership equity.@@@@1@20@@oe@2-2-2013
22248007@unknown@formal@none@1@S@Net proceeds from the offering are expected to be close to $200 million.@@@@1@13@@oe@2-2-2013
22248008@unknown@formal@none@1@S@Goldman, Sachs & Co., and Drexel Burnham Lambert Inc. are lead underwriters.@@@@1@12@@oe@2-2-2013
22249001@unknown@formal@none@1@S@Arthur M. Goldberg said he extended his unsolicited tender offer of $32 a share tender offer, or $154.3 million, for Di Giorgio Corp. to Nov. 1.@@@@1@26@@oe@2-2-2013
22249002@unknown@formal@none@1@S@DIG Acquisition Corp., the New Jersey investor's acquisition vehicle, said that as of the close of business yesterday, 560,839 shares had been tendered.@@@@1@23@@oe@2-2-2013
22249003@unknown@formal@none@1@S@Including the stake DIG already held, DIG holds a total of about 25% of Di Giorgio's shares on a fully diluted basis.@@@@1@22@@oe@2-2-2013
22249004@unknown@formal@none@1@S@The offer, which also includes common and preferred stock purchase rights, was to expire last night at midnight.@@@@1@18@@oe@2-2-2013
22249005@unknown@formal@none@1@S@The new expiration date is the date on which DIG's financing commitments, which total about $240 million, are to expire.@@@@1@20@@oe@2-2-2013
22249006@unknown@formal@none@1@S@DIG is a unit of DIG Holding Corp., a unit of Rose Partners L.P.@@@@1@14@@oe@2-2-2013
22249007@unknown@formal@none@1@S@Mr. Goldberg is the sole general partner in Rose Partners.@@@@1@10@@oe@2-2-2013
22249008@unknown@formal@none@1@S@In August, Di Giorgio, a San Francisco food products and building materials marketing and distribution company, rejected Mr. Goldberg's offer as inadequate.@@@@1@22@@oe@2-2-2013
22249009@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Di Giorgio closed at $31.50 a share, down $1.75.@@@@1@17@@oe@2-2-2013
22250001@unknown@formal@none@1@S@What doesn't belong here?@@@@1@4@@oe@2-2-2013
22250002@unknown@formal@none@1@S@A. manual typewriters, B. black-and-white snapshots, C. radio adventure shows.@@@@1@10@@oe@2-2-2013
22250003@unknown@formal@none@1@S@If you guessed black-and-white snapshots, you're right.@@@@1@7@@oe@2-2-2013
22250004@unknown@formal@none@1@S@After years of fading into the background, two-tone photography is coming back.@@@@1@12@@oe@2-2-2013
22250005@unknown@formal@none@1@S@Trendy magazine advertisements feature stark black-and-white photos of Hollywood celebrities pitching jeans, shoes and liquor.@@@@1@15@@oe@2-2-2013
22250006@unknown@formal@none@1@S@Portrait studios accustomed to shooting only in color report a rush to black-and-white portrait orders.@@@@1@15@@oe@2-2-2013
22250007@unknown@formal@none@1@S@And black-and-white photography classes are crowded with students.@@@@1@8@@oe@2-2-2013
22250008@unknown@formal@none@1@S@What's happening in photography mirrors the popularity of black and white in fashion, home furnishings and cinematography.@@@@1@17@@oe@2-2-2013
22250009@unknown@formal@none@1@S@On Seventh Avenue, designers have been advancing the monochrome look with clothing collections done entirely in black and white.@@@@1@19@@oe@2-2-2013
22250010@unknown@formal@none@1@S@And classic black-and-white movies are enjoying a comeback on videocassette tapes, spurred, in part, by the backlash against colorization of old films.@@@@1@22@@oe@2-2-2013
22250011@unknown@formal@none@1@S@"The pendulum is swinging back to black and white," says Richard DeMoulin, the general manager of Eastman Kodak Co.'s professional photography division.@@@@1@22@@oe@2-2-2013
22250012@unknown@formal@none@1@S@Until two years ago, sales of black-and-white film had been declining steadily since the 1960s.@@@@1@15@@oe@2-2-2013
22250013@unknown@formal@none@1@S@But last year, buoyed by increased use in advertising and other commercial applications, sales increased 5%, and they are expected to jump at least that much again this year.@@@@1@29@@oe@2-2-2013
22250014@unknown@formal@none@1@S@Photographic companies are scrambling to tap the resurging market, reviving some black-and-white product lines and developing new ones.@@@@1@18@@oe@2-2-2013
22250015@unknown@formal@none@1@S@At Kodak, which largely ignored the market for years, black-and-white film sales now account for nearly 15% of the company's $3 billion in film and paper sales annually, up from 10% three years ago.@@@@1@34@@oe@2-2-2013
22250016@unknown@formal@none@1@S@The Rochester, N.Y., photographic giant recently began marketing T-Max 3200, one of the fastest and most sensitive monochrome films.@@@@1@19@@oe@2-2-2013
22250017@unknown@formal@none@1@S@Aimed at commercial photographers, the film can be used in very low light without sacrificing quality, says Donald Franz of Photofinishing Newsletter.@@@@1@22@@oe@2-2-2013
22250018@unknown@formal@none@1@S@Also trying to snare a portion of the $2 billion-a-year industry is Agfa Corp., a unit of Bayer AG.@@@@1@19@@oe@2-2-2013
22250019@unknown@formal@none@1@S@Agfa recently signed Olympic gold medalist Florence Griffith-Joyner to endorse a new line of black-and-white paper that's geared to consumers and will compete directly with Kodak's papers.@@@@1@27@@oe@2-2-2013
22250020@unknown@formal@none@1@S@Slated for market by the end of the year, the paper "could have been introduced a long time ago but the market wasn't there then," says an Agfa spokesman.@@@@1@29@@oe@2-2-2013
22250021@unknown@formal@none@1@S@The biggest beneficiary of the black-and-white revival is likely to be International Paper Co.'s Ilford division, known in the industry for its premium products.@@@@1@24@@oe@2-2-2013
22250022@unknown@formal@none@1@S@Sales of Ilford's four varieties of black-and-white film this year are outpacing growth in the overall market, although the company won't say by exactly how much.@@@@1@26@@oe@2-2-2013
22250023@unknown@formal@none@1@S@"We hope the trend lasts," says Laurie DiCara, Ilford's marketing communications director.@@@@1@12@@oe@2-2-2013
22250024@unknown@formal@none@1@S@Why all the interest?@@@@1@4@@oe@2-2-2013
22250025@unknown@formal@none@1@S@For baby boomers who grew up being photographed in color, black and white seems eye-catching and exotic.@@@@1@17@@oe@2-2-2013
22250026@unknown@formal@none@1@S@"It has an archival, almost nostalgic quality to it," says Owen B. Butler, the chairman of the applied photography department at Rochester Institute of Technology.@@@@1@25@@oe@2-2-2013
22250027@unknown@formal@none@1@S@"You can shift out of reality with black and white," he adds.@@@@1@12@@oe@2-2-2013
22250028@unknown@formal@none@1@S@Such features have been especially attractive to professional photographers and marketing executives, who have been steadily increasing their use of black and white in advertising.@@@@1@25@@oe@2-2-2013
22250029@unknown@formal@none@1@S@Processing of black-and-white commercial film jumped 24% last year to 18.7 million rolls.@@@@1@13@@oe@2-2-2013
22250030@unknown@formal@none@1@S@Consider Gap Inc., whose latest ad campaign features black-and-white shots of Hollywood stars, artists and other well-known personalities modeling the retailer's jeans and T-shirts.@@@@1@24@@oe@2-2-2013
22250031@unknown@formal@none@1@S@Richard Crisman, the account manager for the campaign, says Gap didn't intentionally choose black and white to distinguish its ads from the color spreads of competitors.@@@@1@26@@oe@2-2-2013
22250032@unknown@formal@none@1@S@"We wanted to highlight the individual, not the environment," he says, "and black and white allows you to do that better than color."@@@@1@23@@oe@2-2-2013
22250033@unknown@formal@none@1@S@The campaign won a Cleo award as this year's best ad by a specialty retailer.@@@@1@15@@oe@2-2-2013
22250034@unknown@formal@none@1@S@Even food products and automobiles, which have long depended on color, are making the switch.@@@@1@15@@oe@2-2-2013
22250035@unknown@formal@none@1@S@Companies "feel black and white will convey a stronger statement," says Marc L. Hauser, a Chicago photographer who is working on a black-and-white print ad for Stouffer Food Corp.'s Lean Cuisine.@@@@1@31@@oe@2-2-2013
22250036@unknown@formal@none@1@S@Other companies that are currently using two-tone ads include American Express Co. and Epson America Inc.@@@@1@16@@oe@2-2-2013
22250037@unknown@formal@none@1@S@Portrait studios have also latched onto the trend.@@@@1@8@@oe@2-2-2013
22250038@unknown@formal@none@1@S@Using black and white, "we can make housewives look like stars," says John Perrin.@@@@1@14@@oe@2-2-2013
22250039@unknown@formal@none@1@S@His On-Broadway Photography studio in Portland, Ore., doubled its business last year and, he says, is booked solid for the next five.@@@@1@22@@oe@2-2-2013
22250040@unknown@formal@none@1@S@One customer, Dayna Brunsdon, says she spurned a color portrait for black and white because "it's more dramatic.@@@@1@18@@oe@2-2-2013
22250041@unknown@formal@none@1@S@I show it to my friends, and they all say 'wow.'@@@@1@11@@oe@2-2-2013
22250042@unknown@formal@none@1@S@It isn't ordinary like color."@@@@1@5@@oe@2-2-2013
22250043@unknown@formal@none@1@S@Still, most consumers aren't plunking black-and-white film into their cameras to take family snapshots.@@@@1@14@@oe@2-2-2013
22250044@unknown@formal@none@1@S@One big obstacle is that few drugstores develop the film anymore.@@@@1@11@@oe@2-2-2013
22250045@unknown@formal@none@1@S@Typically, it must be mailed to a handful of processors and may take a week or more to be processed and returned.@@@@1@22@@oe@2-2-2013
22250046@unknown@formal@none@1@S@Black-and-white film costs consumers a little less than color film, and processing costs the same.@@@@1@15@@oe@2-2-2013
22250047@unknown@formal@none@1@S@But for photofinishers, developing costs for black-and-white film are higher.@@@@1@10@@oe@2-2-2013
22250048@unknown@formal@none@1@S@Some companies are starting to tackle that problem.@@@@1@8@@oe@2-2-2013
22250049@unknown@formal@none@1@S@Ilford, for example, recently introduced a black-and-white film that can be processed quickly by color labs.@@@@1@16@@oe@2-2-2013
22250050@unknown@formal@none@1@S@Intent on wooing customers, the company is also increasing its sponsorship of black-and-white photography classes.@@@@1@15@@oe@2-2-2013
22250051@unknown@formal@none@1@S@Similarly, Agfa is sponsoring scores of photography contests at high schools and colleges, offering free black-and-white film and paper as prizes.@@@@1@21@@oe@2-2-2013
22250052@unknown@formal@none@1@S@And Kodak is distributing an instructional video to processors on how to develop its monochrome film more efficiently.@@@@1@18@@oe@2-2-2013
22250053@unknown@formal@none@1@S@Other companies are introducing related products.@@@@1@6@@oe@2-2-2013
22250054@unknown@formal@none@1@S@Charles Beseler Co., a leading maker of photographic enlargers, introduced last month a complete darkroom starter kit targeted at teen-agers who want to process their own black-and-white photographs.@@@@1@28@@oe@2-2-2013
22250055@unknown@formal@none@1@S@The kit, which has a suggested retail price of $250 and has already become a bestseller, was introduced after retailers noticed numerous requests from parents for children's photography equipment.@@@@1@29@@oe@2-2-2013
22250056@unknown@formal@none@1@S@"It seems computers as hobbies have waned," says Ian Brightman, Beseler's chairman and chief executive officer.@@@@1@16@@oe@2-2-2013
22250057@unknown@formal@none@1@S@But some industry observers believe the resurgence of black and white is only a fad.@@@@1@15@@oe@2-2-2013
22250058@unknown@formal@none@1@S@They cite the emergence of still electronic photography, more newspapers turning to color on their pages and measurable improvements in the quality of color prints.@@@@1@25@@oe@2-2-2013
22250059@unknown@formal@none@1@S@"Black and white hasn't made the same quantum leaps in technological development as color," says Mr. Butler of the Rochester Institute.@@@@1@21@@oe@2-2-2013
22250060@unknown@formal@none@1@S@"The color print today is far superior to prints of 10 years ago.@@@@1@13@@oe@2-2-2013
22250061@unknown@formal@none@1@S@You can't say the same with black and white."@@@@1@9@@oe@2-2-2013
22250062@unknown@formal@none@1@S@But when Popular Photography, a leading magazine for photographers, selected 15 of the greatest photos ever made for its latest issue celebrating photography's 150th anniversary, all were black and white.@@@@1@30@@oe@2-2-2013
22250063@unknown@formal@none@1@S@"It's got a classic spirit and carries over emotionally," says Alfred DeBat of Professional Photographers of America.@@@@1@17@@oe@2-2-2013
22250064@unknown@formal@none@1@S@"That's the appeal.@@@@1@3@@oe@2-2-2013
22251001@unknown@formal@none@1@S@McClatchy Newspapers Inc. said improvements in advertising and subscription revenue led to a 21% gain in third-quarter profit to $8.8 million, or 31 cents a share, from $7.2 million, or 25 cents a share.@@@@1@34@@oe@2-2-2013
22251002@unknown@formal@none@1@S@Sales rose more than 7% to $94.9 million from $88.3 million.@@@@1@11@@oe@2-2-2013
22251003@unknown@formal@none@1@S@The Sacramento, Calif., company also attributed improved performance to a lower effective tax rate and higher interest income.@@@@1@18@@oe@2-2-2013
22251004@unknown@formal@none@1@S@For the nine months, the newspaper chain had almost a 23% increase in profit to $23.6 million, or 83 cents a share, from $19.2 million, or 68 cents a share.@@@@1@30@@oe@2-2-2013
22251005@unknown@formal@none@1@S@Sales grew almost 7% to $279.1 million from $261.3 million.@@@@1@10@@oe@2-2-2013
22251006@unknown@formal@none@1@S@McClatchy publishes the Sacramento (Calif.) Bee and Tacoma (Wash.) News Tribune, and other papers in Western states.@@@@1@17@@oe@2-2-2013
22251007@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, the company closed at $25.25 a share, down 25 cents.@@@@1@19@@oe@2-2-2013
22252001@unknown@formal@none@1@S@Agip S.p.A. and Societe National Elf Aquitaine, the state oil companies of Italy and France, respectively, submitted an offer to buy Gatoil Suisse S.A.@@@@1@24@@oe@2-2-2013
22252002@unknown@formal@none@1@S@The price wasn't disclosed.@@@@1@4@@oe@2-2-2013
22252003@unknown@formal@none@1@S@A spokesman for Gatoil said that the Swiss oil concern was examining the offer, submitted last Friday, along with two other offers, also submitted last week.@@@@1@26@@oe@2-2-2013
22252004@unknown@formal@none@1@S@Those two offers were private and the spokesman refused to identify the bidding companies.@@@@1@14@@oe@2-2-2013
22252005@unknown@formal@none@1@S@The spokesman further said that at least two more offers are expected from other companies within two weeks.@@@@1@18@@oe@2-2-2013
22252006@unknown@formal@none@1@S@Gatoil Suisse owns an oil refinery in Switzerland with a capacity of 70,000 barrels a day, along with a network of gasoline retailing outlets.@@@@1@24@@oe@2-2-2013
22253001@unknown@formal@none@1@S@While Friday's plunging stock market prompted new fears about the economy's prospects, a little-known indicator that has faithfully foreshadowed the economy's ups and downs by exceptionally long lead times points to a sustained rise in overall business activity.@@@@1@38@@oe@2-2-2013
22253002@unknown@formal@none@1@S@The barometer, developed by analysts at Columbia University's Center for International Business Cycle Research here, reached a record high of 223.0 in August, the latest month available, and the Columbia researchers estimate that it has moved even higher since then.@@@@1@40@@oe@2-2-2013
22253003@unknown@formal@none@1@S@The latest reading of 223.0 was up from 222.3 in July and 215.3 as recently as March.@@@@1@17@@oe@2-2-2013
22253004@unknown@formal@none@1@S@The August rise marked the fifth straight monthly gain for the indicator, which uses the 1967 average as a base of 100.@@@@1@22@@oe@2-2-2013
22253005@unknown@formal@none@1@S@In contrast, the Commerce Department's widely followed index of leading indicators, while up in August, has fallen repeatedly since reaching a high early this year.@@@@1@25@@oe@2-2-2013
22253006@unknown@formal@none@1@S@Its ragged behavior through much of 1989 has prompted some forecasters to anticipate the start of a new recession perhaps before year's end.@@@@1@23@@oe@2-2-2013
22253007@unknown@formal@none@1@S@But the far stronger showing of the Columbia index "makes a recession any time soon highly unlikely," says Geoffrey H. Moore, the director of the Columbia facility.@@@@1@27@@oe@2-2-2013
22253008@unknown@formal@none@1@S@A leading authority on the business cycle, Mr. Moore also is a member of the Business Cycle Dating Group, the panel of private economists that decides for the government when expansions and recessions begin and end.@@@@1@36@@oe@2-2-2013
22253009@unknown@formal@none@1@S@The group normally convenes only when a change in the economy's general course seems likely.@@@@1@15@@oe@2-2-2013
22253010@unknown@formal@none@1@S@"No meeting is scheduled because the expansion shows no sign of going off the tracks," Mr. Moore reports.@@@@1@18@@oe@2-2-2013
22253011@unknown@formal@none@1@S@Based largely on the recent strength in their index, called the long leading indicator, the Columbia analysts foresee uninterrupted economic growth through the rest of this year and next year as well.@@@@1@32@@oe@2-2-2013
22253012@unknown@formal@none@1@S@They expect a 2.6% rise in 1990 in the gross national product, after adjustment for inflation.@@@@1@16@@oe@2-2-2013
22253013@unknown@formal@none@1@S@Underlying this optimism is the index's longstanding ability to signal recessions or recoveries, as the case may be, by substantially greater periods than the Commerce Department's index of leading indicators.@@@@1@30@@oe@2-2-2013
22253014@unknown@formal@none@1@S@Over the full post-World War II era, the Columbia index, on the average, has entered sustained declines 14 months before the onset of recessions and turned up eight months before recoveries.@@@@1@31@@oe@2-2-2013
22253015@unknown@formal@none@1@S@The comparable lead times for the Commerce index, whose components include the stock market, are far shorter -- 10 months before recessions and only three months before recoveries.@@@@1@28@@oe@2-2-2013
22253016@unknown@formal@none@1@S@The Columbia economists also have reconstructed how the long leading index would have behaved, had it existed, in 1929, before the stock market crash in October that ushered in the Great Depression.@@@@1@32@@oe@2-2-2013
22253017@unknown@formal@none@1@S@The indicator reached a peak in January 1929 and then fell steadily up to and through the crash.@@@@1@18@@oe@2-2-2013
22253018@unknown@formal@none@1@S@"It was an entirely different pattern from what we're seeing now," Mr. Moore says.@@@@1@14@@oe@2-2-2013
22253019@unknown@formal@none@1@S@A major source of the recent strength in the long leading indicator has been the performance of the Dow Jones corporate bond-price index, which is not a part of the Commerce index.@@@@1@32@@oe@2-2-2013
22253020@unknown@formal@none@1@S@In August, the bond measure was at its highest monthly average since early 1987.@@@@1@14@@oe@2-2-2013
22253021@unknown@formal@none@1@S@It also rose last Friday, while the stock market sagged.@@@@1@10@@oe@2-2-2013
22253022@unknown@formal@none@1@S@Other components of the long leading indicator include a ratio of prices to unit labor costs in manufacturing industries, the M2 version of the money supply, adjusted for inflation, and the volume of new home-building permits.@@@@1@36@@oe@2-2-2013
22253023@unknown@formal@none@1@S@Notably absent from the Columbia index is the stock market, which Mr. Moore says "is simply no longer such a good indicator of the economy's long-range prospects, though it still is useful for anticipating some short-run twists and turns."@@@@1@39@@oe@2-2-2013
22253024@unknown@formal@none@1@S@As recently as 1975, the stock market -- as reflected in the Standard & Poor's index of 500 common stocks -- was rated by the National Bureau of Economic Research as the best of the 12 leading indicators that then made up the Commerce index.@@@@1@45@@oe@2-2-2013
22253025@unknown@formal@none@1@S@It was assigned a mark of 80 out of a possible 100, compared with scores ranging as low as 69 for the other components.@@@@1@24@@oe@2-2-2013
22253026@unknown@formal@none@1@S@The stock market has lost some precursory power, analysts at the Columbia center claim, because of the growing impact of international developments.@@@@1@22@@oe@2-2-2013
22253027@unknown@formal@none@1@S@"Stocks have become more sensitive to factors not directly tied to the domestic economy," Mr. Moore says, citing the exchange rate for the dollar on currency markets, the foreign-trade balance and inflows of foreign capital.@@@@1@35@@oe@2-2-2013
22253028@unknown@formal@none@1@S@He also feels that the rise of such computer-based practices as program trading has diminished the stock market's relevancy to the economic outlook.@@@@1@23@@oe@2-2-2013
22254001@unknown@formal@none@1@S@BSN S.A., a leading French food group, said it agreed to acquire Birkel G.m.b.H., a West German pasta maker.@@@@1@19@@oe@2-2-2013
22254002@unknown@formal@none@1@S@The value of the acquisition wasn't disclosed.@@@@1@7@@oe@2-2-2013
22254003@unknown@formal@none@1@S@The move is in line with BSN's strategy of gradually building its share of the European pasta market through external growth.@@@@1@21@@oe@2-2-2013
22254004@unknown@formal@none@1@S@BSN will initially acquire a 15% interest in Birkel, a closely held concern.@@@@1@13@@oe@2-2-2013
22254005@unknown@formal@none@1@S@The French group has an agreement giving it the right to buy all the shares outstanding, and this could be completed within a few months, a BSN spokeswoman said.@@@@1@29@@oe@2-2-2013
22254006@unknown@formal@none@1@S@The takeover was submitted for approval by the West German cartel office, BSN said.@@@@1@14@@oe@2-2-2013
22254007@unknown@formal@none@1@S@Birkel is West Germany's second-biggest producer of pasta, with sales of 250 million marks ($133.4 million) in 1988.@@@@1@18@@oe@2-2-2013
22254008@unknown@formal@none@1@S@It has 750 workers at three production units in southwest Germany, and is that nation's leading producer of pasta sauces.@@@@1@20@@oe@2-2-2013
22254009@unknown@formal@none@1@S@The acquisition strengthens BSN's position in the European pasta market.@@@@1@10@@oe@2-2-2013
22254010@unknown@formal@none@1@S@The French group currently ranks second after Barilla Group of Italy, whose sales are chiefly in the Italian market.@@@@1@19@@oe@2-2-2013
22255001@unknown@formal@none@1@S@Moody's Investors Service Inc. said it reduced its rating on $281 million of senior and subordinated debt of this thrift holding company, to C from Ca, saying it believes bondholders will recover only "negligible principal."@@@@1@35@@oe@2-2-2013
22255002@unknown@formal@none@1@S@The agency said it confirmed American Continental's preferred stock rating at C.@@@@1@12@@oe@2-2-2013
22255003@unknown@formal@none@1@S@American Continental's thrift unit, Los Angeles-based Lincoln Savings & Loan Association, is in receivership and the parent company has filed for protection from creditor lawsuits under Chapter 11 of the federal Bankruptcy Code.@@@@1@33@@oe@2-2-2013
22255004@unknown@formal@none@1@S@CENTRUST SAVINGS BANK (Miami) --@@@@1@5@@oe@2-2-2013
22255005@unknown@formal@none@1@S@Moody's Investors Service Inc. downgraded its ratings on the subordinated debt of CenTrust to Caa from B-3.@@@@1@17@@oe@2-2-2013
22255006@unknown@formal@none@1@S@The rating agency also reduced the ratings for long-term deposits to B-3 from Ba-3 and for preferred stock to Ca from Caa.@@@@1@22@@oe@2-2-2013
22255007@unknown@formal@none@1@S@The rating agency said about $85 million in securities was affected.@@@@1@11@@oe@2-2-2013
22255008@unknown@formal@none@1@S@The downgrades were prompted, Moody's said, by the continuing turmoil in the junk bond market and the suspension of dividends on CenTrust's preferred stock.@@@@1@24@@oe@2-2-2013
22255009@unknown@formal@none@1@S@Moody's also said it believed the proposed sale of 63 CenTrust branches to Great Western Bank could, if completed, endanger the thrift's funding and market position.@@@@1@26@@oe@2-2-2013
22256001@unknown@formal@none@1@S@THE STOCK MARKET AVOIDED a repeat of Black Monday as prices recovered from an early slide, spurred by bargain-hunting institutions and program traders.@@@@1@23@@oe@2-2-2013
22256002@unknown@formal@none@1@S@The Dow Jones industrials closed up 88.12 points, at 2657.38, the fourth-biggest gain ever, after being down as much as 63.52 points in the morning.@@@@1@25@@oe@2-2-2013
22256003@unknown@formal@none@1@S@The rally erased about half of Friday's 190.58-point plunge, but analysts are cautious about the market's outlook.@@@@1@17@@oe@2-2-2013
22256004@unknown@formal@none@1@S@The dollar also rebounded, while bond prices plummeted and Treasury bill rates soared.@@@@1@13@@oe@2-2-2013
22256005@unknown@formal@none@1@S@Junk bonds also recovered somewhat, though trading remained stalled.@@@@1@9@@oe@2-2-2013
22256006@unknown@formal@none@1@S@Gold also rose.@@@@1@3@@oe@2-2-2013
22256007@unknown@formal@none@1@S@Tokyo stock prices bounced back in early trading Tuesday following a 1.8% plunge on Monday.@@@@1@15@@oe@2-2-2013
22256008@unknown@formal@none@1@S@The dollar also moved higher in Tokyo.@@@@1@7@@oe@2-2-2013
22256009@unknown@formal@none@1@S@Donald Trump withdrew his $7.54 billion offer for American Air, citing the "recent change in market conditions."@@@@1@17@@oe@2-2-2013
22256010@unknown@formal@none@1@S@AMR slid $22.125, to $76.50.@@@@1@5@@oe@2-2-2013
22256011@unknown@formal@none@1@S@Also, a UAL group tried to get financing for a lower bid, possibly $250 a share.@@@@1@16@@oe@2-2-2013
22256012@unknown@formal@none@1@S@UAL fell $56.875, to $222.875.@@@@1@5@@oe@2-2-2013
22256013@unknown@formal@none@1@S@Leveraged buy-outs of airlines would be subject to approval by the transportation secretary under a bill passed by a House subcommittee.@@@@1@21@@oe@2-2-2013
22256014@unknown@formal@none@1@S@IBM's earnings tumbled 30% in the third quarter, slightly more than expected.@@@@1@12@@oe@2-2-2013
22256015@unknown@formal@none@1@S@The computer giant partly cited a stronger dollar and a delay in shipping a new high-end disk drive.@@@@1@18@@oe@2-2-2013
22256016@unknown@formal@none@1@S@Analysts are downbeat about IBM's outlook for the next few quarters.@@@@1@11@@oe@2-2-2013
22256017@unknown@formal@none@1@S@U.S. auto makers plan to decrease car production 10.4% in the fourth quarter, with virtually all the decline coming from the Big Three.@@@@1@23@@oe@2-2-2013
22256018@unknown@formal@none@1@S@Output at Japanese-owned and managed plants in the U.S. is due to rise 42%.@@@@1@14@@oe@2-2-2013
22256019@unknown@formal@none@1@S@Budget director Darman said he won't give federal agencies much leeway in coping with Gramm-Rudman spending cuts, which took effect yesterday.@@@@1@21@@oe@2-2-2013
22256020@unknown@formal@none@1@S@Darman hopes to prod Congress to finish a deficit plan.@@@@1@10@@oe@2-2-2013
22256021@unknown@formal@none@1@S@The S&L bailout agency would be restricted by a new bill in how it raises capital.@@@@1@16@@oe@2-2-2013
22256022@unknown@formal@none@1@S@The Ways and Means plan would create another possible obstacle to selling sick thrifts.@@@@1@14@@oe@2-2-2013
22256023@unknown@formal@none@1@S@A natural gas rule was struck down by a federal appeals court.@@@@1@12@@oe@2-2-2013
22256024@unknown@formal@none@1@S@The regulation had prevented pipeline firms from passing part of $1 billion in costs along to customers.@@@@1@17@@oe@2-2-2013
22256025@unknown@formal@none@1@S@The Supreme Court agreed to decide whether a federal court may dismantle a merger that has won regulatory approval but been ruled anticompetitive in a private suit.@@@@1@27@@oe@2-2-2013
22256026@unknown@formal@none@1@S@Merrill Lynch's profit slid 37% in the third quarter.@@@@1@9@@oe@2-2-2013
22256027@unknown@formal@none@1@S@Bear Stearns posted a 7.5% gain, while PaineWebber had a decline due to a year-ago gain.@@@@1@16@@oe@2-2-2013
22256028@unknown@formal@none@1@S@Blue Arrow of Britain plans to return to the name Manpower and take a big write-off.@@@@1@16@@oe@2-2-2013
22256029@unknown@formal@none@1@S@The moves may help the firm solidify its dominance of the U.S. temporary-help market.@@@@1@14@@oe@2-2-2013
22256030@unknown@formal@none@1@S@J.P. Morgan posted a $1.82 billion loss for the third quarter, reflecting a big addition to loan-loss reserves.@@@@1@18@@oe@2-2-2013
22256031@unknown@formal@none@1@S@NCNB's profit more than doubled.@@@@1@5@@oe@2-2-2013
22256032@unknown@formal@none@1@S@K mart agreed to acquire Pace Membership Warehouse for $322 million, expanding its presence in the growing wholesale-store business.@@@@1@19@@oe@2-2-2013
22256033@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
22256034@unknown@formal@none@1@S@Stocks: Volume 416,290,000 shares.@@@@1@4@@oe@2-2-2013
22256035@unknown@formal@none@1@S@Dow Jones industrials 2657.38, up 88.12; transportation 1304.23, off 102.06; utilities 214.73, up 2.77.@@@@1@14@@oe@2-2-2013
22256036@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3393.51, off@@@@1@8@@oe@2-2-2013
22256037@unknown@formal@none@1@S@Commodities: Dow Jones futures index 129.72, off 0.15; spot index 130.16, up 0.91.@@@@1@13@@oe@2-2-2013
22256038@unknown@formal@none@1@S@Dollar: 141.85 yen, off 0.25; 1.8685 marks, off 0.0055.@@@@1@9@@oe@2-2-2013
22257001@unknown@formal@none@1@S@Monday, October 16, 1989@@@@1@4@@oe@2-2-2013
22257002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
22257003@unknown@formal@none@1@S@PRIME RATE: 10 1/2%.@@@@1@4@@oe@2-2-2013
22257004@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
22257005@unknown@formal@none@1@S@FEDERAL FUNDS: 8 3/4% high, 8 1/2% low, 8 5/8% near closing bid, 8 3/4% offered.@@@@1@16@@oe@2-2-2013
22257006@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
22257007@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
22257008@unknown@formal@none@1@S@DISCOUNT RATE: 7%.@@@@1@3@@oe@2-2-2013
22257009@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
22257010@unknown@formal@none@1@S@CALL MONEY: 9 3/4% to 10%.@@@@1@6@@oe@2-2-2013
22257011@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
22257012@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.:8.30% 5 to 44 days; 8.20% 45 to 59 days; 8% 60 to 89 days; 7.875% 90 to 119 days; 7.75% 120 to 149 days; 7.625% 150 to 179 days; 7.375% 180 to 270 days.@@@@1@43@@oe@2-2-2013
22257013@unknown@formal@none@1@S@COMMERCIAL PAPER: High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000:8.40% 30 days; 8.33% 60 days; 8.26% 90 days.@@@@1@23@@oe@2-2-2013
22257014@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT: 8.05% one month; 8.02% two months; 8% three months; 7.98% six months; 7.95% one year.@@@@1@18@@oe@2-2-2013
22257015@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
22257016@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
22257017@unknown@formal@none@1@S@Typical rates in the secondary market:8.40% one month; 8.40% three months; 8.40% six months.@@@@1@14@@oe@2-2-2013
22257018@unknown@formal@none@1@S@BANKERS ACCEPTANCES: 8.40% 30 days; 8.35% 60 days; 8.27% 90 days; 8.20% 120 days; 8.15% 150 days; 8.02% 180 days.@@@@1@20@@oe@2-2-2013
22257019@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
22257020@unknown@formal@none@1@S@LONDON LATE EURODOLLARS: 8 5/8% to 8 1/2% one month; 8 5/8% to 8 1/2% two months; 8 9/16% to 8 7/16% three months; 8 1/2% to 8 3/8% four months; 8 1/2% to 8 3/8% five months; 8 1/2% to 8 3/8% six months.@@@@1@45@@oe@2-2-2013
22257021@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR): 8 1/2% one month; 8 1/2% three months; 8 7/16% six months; 8 3/8% one year.@@@@1@21@@oe@2-2-2013
22257022@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
22257023@unknown@formal@none@1@S@FOREIGN PRIME RATES: Canada 13.50%; Germany 8.50%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@13@@oe@2-2-2013
22257024@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
22257025@unknown@formal@none@1@S@TREASURY BILLS: Results of the Monday, October 16, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million: 7.37%, 13 weeks; 7.42%, 26 weeks.@@@@1@35@@oe@2-2-2013
22257026@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac): Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@18@@oe@2-2-2013
22257027@unknown@formal@none@1@S@9.83%, standard conventional fixedrate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
22257028@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
22257029@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae): Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par).9.82%, standard conventional fixed rate-mortgages; 8.70%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@33@@oe@2-2-2013
22257030@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
22257031@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST: 8.49%.@@@@1@6@@oe@2-2-2013
22257032@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
22258001@unknown@formal@none@1@S@Intel Corp. said it reached an agreement with Alliant Computer Systems Corp. to develop software standards for Intel's i860 microprocessor.@@@@1@20@@oe@2-2-2013
22258002@unknown@formal@none@1@S@The i860, introduced earlier this year, is Intel's entry in the crowded market for reduced instruction set computing, or RISC, computers.@@@@1@21@@oe@2-2-2013
22258003@unknown@formal@none@1@S@Intel, based in Santa Clara, Calif., is the market leader for traditional microprocessors with its 8086 family that forms the heart of IBM-compatible personal computers.@@@@1@25@@oe@2-2-2013
22258004@unknown@formal@none@1@S@Under the agreement, Intel will invest $3 million to acquire a 4% stake in Alliant, a maker of minisupercomputers for scientists and engineers.@@@@1@23@@oe@2-2-2013
22258005@unknown@formal@none@1@S@Alliant, based in Littleton, Mass., will license its parallel-computing technologies to Intel, providing users a way to let many i860 microprocessors in a single computer work on a problem simultaneously.@@@@1@30@@oe@2-2-2013
22258006@unknown@formal@none@1@S@Alliant said it plans to use the microprocessor in future products.@@@@1@11@@oe@2-2-2013
22258007@unknown@formal@none@1@S@It declined to discuss its plans for upgrading its current product line.@@@@1@12@@oe@2-2-2013
22259001@unknown@formal@none@1@S@Omnicare Inc., which intends to expand its position in the medical and dental markets, said it acquired a cotton and gauze products division from closely held Sterile Products Corp. for $8.2 million.@@@@1@32@@oe@2-2-2013
22259002@unknown@formal@none@1@S@Omnicare said it expects the division to add "substantial sales volume and to make a positive contribution to our earnings in 1990 and beyond."@@@@1@24@@oe@2-2-2013
22259003@unknown@formal@none@1@S@In 1988 the Cincinnati company earned $3.1 million, or 32 cents a share, on revenue of $148.5 million.@@@@1@18@@oe@2-2-2013
22259004@unknown@formal@none@1@S@Omnicare said the division operates under the trade name ACCO and supplies the medical and dental markets.@@@@1@17@@oe@2-2-2013
22259005@unknown@formal@none@1@S@The business, based in St. Louis, had sales of more than $14 million in the fiscal year ended March 31, Omnicare said.@@@@1@22@@oe@2-2-2013
22260001@unknown@formal@none@1@S@Burmah Oil PLC, a British independent oil and specialty chemicals marketing concern, said SHV Holdings N.V. of the Netherlands has built up a 6.7% stake in the company.@@@@1@28@@oe@2-2-2013
22260002@unknown@formal@none@1@S@James Alexander, a Burmah spokesman, said SHV had previously owned "a little under 5%" of Burmah for about two years.@@@@1@20@@oe@2-2-2013
22260003@unknown@formal@none@1@S@The Dutch company hadn't notified Burmah of its reason for increasing the stake, he said.@@@@1@15@@oe@2-2-2013
22260004@unknown@formal@none@1@S@SHV, which last year merged its North Sea oil and gas operations with those of Calor Group PLC, has been pegged by speculators as a possible suitor for Burmah Oil in recent weeks.@@@@1@33@@oe@2-2-2013
22260005@unknown@formal@none@1@S@SHV also owns 40% of Calor.@@@@1@6@@oe@2-2-2013
22260006@unknown@formal@none@1@S@Burmah, which owns the Castrol brand of lubricant oils, reported a 17% rise in net income to #43.5 million ($68.3 million) in the first half.@@@@1@25@@oe@2-2-2013
22261001@unknown@formal@none@1@S@J.P. Industries Inc. said it signed a definitive agreement to sell its Builders' Hardware Group to closely held Nalcor Inc. of Beverly Hills, Calif.@@@@1@24@@oe@2-2-2013
22261002@unknown@formal@none@1@S@Terms weren't disclosed, but a J.P. Industries spokesman said the amount J.P. Industries will get for the group is "a little better than expected by the marketplace, and the marketplace had been expecting $25 million to $30 million."@@@@1@38@@oe@2-2-2013
22261003@unknown@formal@none@1@S@The group consists of Weslock Corp. and JPI Modern Inc.@@@@1@10@@oe@2-2-2013
22261004@unknown@formal@none@1@S@J.P. Industries, which is based in Ann Arbor, Mich., said the sale completes a previously announced program to divest itself of its hardware and plumbing supplies operations.@@@@1@27@@oe@2-2-2013
22261005@unknown@formal@none@1@S@The company's remaining business is the manufacture and sale of engine and transmissions products for industrial and transportation applications.@@@@1@19@@oe@2-2-2013
22262001@unknown@formal@none@1@S@Citing a $3.1 million provision for doubtful accounts, Dallas-based National Heritage Inc. posted a loss for its fourth quarter ended June 30.@@@@1@22@@oe@2-2-2013
22262002@unknown@formal@none@1@S@A unit of troubled Southmark Corp., the operator of nursing homes and retirement centers said it sustained a net loss of $1.6 million, or nine cents a share, compared with net income of $1.3 million, or eight cents a share, a year earlier.@@@@1@43@@oe@2-2-2013
22262003@unknown@formal@none@1@S@Operating revenue rose 13% to $22.2 million from $19.7 million in the year-earlier quarter.@@@@1@14@@oe@2-2-2013
22262004@unknown@formal@none@1@S@The company said the $3.1 million reserve was created to reflect doubt about the collectability of receivables owed to National Heritage by some of the real estate partnerships it manages.@@@@1@30@@oe@2-2-2013
22262005@unknown@formal@none@1@S@The company also said expenses incurred by the previous board and management in the recent contest for control were recognized primarily in the first quarter ended Sept. 30.@@@@1@28@@oe@2-2-2013
22262006@unknown@formal@none@1@S@National Heritage stock fell 12.5 cents yesterday to close at $1.375 a share in New York Stock Exchange composite trading.@@@@1@20@@oe@2-2-2013
22263001@unknown@formal@none@1@S@United Biscuits (Holdings) PLC, a British food producer, announced the creation of a European group to bring together its trading interests in the region.@@@@1@24@@oe@2-2-2013
22263002@unknown@formal@none@1@S@The new group will comprise all of United Biscuit's manufacturing and marketing operations in the food sector apart from those based in the U.S.@@@@1@24@@oe@2-2-2013
22263003@unknown@formal@none@1@S@United Biscuits said the combined group, which will include businesses such as McVities biscuits and Terry's confectionery, will have annual sales of more than #1.5 billion ($2.35 billion) and trading profit of more than #160 million ($251 million).@@@@1@38@@oe@2-2-2013
22263004@unknown@formal@none@1@S@"The new structure will enable United Biscuits to focus clearly upon opportunities for planned growth during the 1990s," said Bob Clarke, deputy chairman and group chief executive.@@@@1@27@@oe@2-2-2013
22263005@unknown@formal@none@1@S@Last month, United Biscuits agreed to sell its entire restaurant operations to Grand Metropolitan PLC for #180 million.@@@@1@18@@oe@2-2-2013
22264001@unknown@formal@none@1@S@An American journalist now is standing trial in Namibia.@@@@1@9@@oe@2-2-2013
22264002@unknown@formal@none@1@S@This is the place that world opinion has been celebrating over in the expectation that it's going to hold an election.@@@@1@21@@oe@2-2-2013
22264003@unknown@formal@none@1@S@The most likely winner will be the Marxist-dominated SWAPO rebels.@@@@1@10@@oe@2-2-2013
22264004@unknown@formal@none@1@S@The U.S. journalist's "crime" was writing that the head of the commission charged with overseeing the election's fairness, Bryan O'Linn, was openly sympathetic to SWAPO.@@@@1@25@@oe@2-2-2013
22264005@unknown@formal@none@1@S@Shortly after that, Mr. O'Linn had Scott Stanley arrested and his passport confiscated.@@@@1@13@@oe@2-2-2013
22264006@unknown@formal@none@1@S@Mr. Stanley is on trial over charges that he violated a proclamation, issued by the South African administrator general earlier this year, which made it a crime punishable by two years in prison for any person to "insult, disparate or belittle" the election commission.@@@@1@44@@oe@2-2-2013
22264007@unknown@formal@none@1@S@The Stanley affair doesn't bode well for the future of democracy or freedom of anything in Namibia when SWAPO starts running the government.@@@@1@23@@oe@2-2-2013
22264008@unknown@formal@none@1@S@To the extent Mr. Stanley has done anything wrong, it may be that he is out of step with the consensus of world intellectuals that the Namibian guerrillas were above all else the victims of suppression by neighboring South Africa.@@@@1@40@@oe@2-2-2013
22264009@unknown@formal@none@1@S@SWAPO has enjoyed favorable Western media treatment ever since the U.N. General Assembly declared it the "sole, authentic representative" of Namibia's people in@@@@1@23@@oe@2-2-2013
22264010@unknown@formal@none@1@S@Last year, the U.S. brokered a peace settlement to remove Cuba's "Afrika Korps" from Angola and hold "free and fair" elections that would end South Africa's control of Namibia.@@@@1@29@@oe@2-2-2013
22264011@unknown@formal@none@1@S@The elections are set for Nov. 7.@@@@1@7@@oe@2-2-2013
22264012@unknown@formal@none@1@S@In July, Mr. Stanley, editor of American Press International, a Washington D.C.-based conservative wire service, visited Namibia to report on the U.N.-monitored election campaign.@@@@1@24@@oe@2-2-2013
22264013@unknown@formal@none@1@S@He interviewed Mr. O'Linn, head of a commission charged with investigating electoral intimidation, and reported that Mr. O'Linn was openly sympathetic to SWAPO and indeed had defended its leaders in court.@@@@1@31@@oe@2-2-2013
22264014@unknown@formal@none@1@S@After Mr. Stanley's article was published in two Namibian newspapers, Mr. O'Linn had criminal charges brought against their editors, publisher and lawyer.@@@@1@22@@oe@2-2-2013
22264015@unknown@formal@none@1@S@Mr. Stanley was arrested and charged along with the others when he returned to Namibia this month.@@@@1@17@@oe@2-2-2013
22264016@unknown@formal@none@1@S@Both the State Department and the Lawyers Committee for Freedom of the Press have protested Mr. Stanley's detention.@@@@1@18@@oe@2-2-2013
22264017@unknown@formal@none@1@S@Mr. Stanley's arrest is the latest in a series of incidents that threaten to derail Namibia's elections.@@@@1@17@@oe@2-2-2013
22264018@unknown@formal@none@1@S@Both South African and SWAPO extremists are intimidating voters.@@@@1@9@@oe@2-2-2013
22264019@unknown@formal@none@1@S@The U.S. is in the habit of arranging peace settlements and then washing its hands over the tragic results.@@@@1@19@@oe@2-2-2013
22264020@unknown@formal@none@1@S@It now has the chance to redress that record in Namibia.@@@@1@11@@oe@2-2-2013
22264021@unknown@formal@none@1@S@State and the human-rights community should insist that Mr. Stanley and his fellow defendants be released and that the United Nation's monitors make certain that Mr. O'Linn's commission investigates election complaints from all sides.@@@@1@34@@oe@2-2-2013
22265001@unknown@formal@none@1@S@Commodity futures prices generally reflected the stability of the stock market following its plunge Friday.@@@@1@15@@oe@2-2-2013
22265002@unknown@formal@none@1@S@Yesterday, the stock market's influence at first created nervousness.@@@@1@9@@oe@2-2-2013
22265003@unknown@formal@none@1@S@Later, however, it became more of an undercurrent than a dominating force as individual markets reacted more to their own factors.@@@@1@21@@oe@2-2-2013
22265004@unknown@formal@none@1@S@Gold, the traditional haven in times of financial crisis, continued its inverse lockstep with the dollar, rising early in the day as the currency fell, and then giving up some of its gains as the dollar recovered.@@@@1@37@@oe@2-2-2013
22265005@unknown@formal@none@1@S@Copper and crude oil reacted sharply to the concern that a crash yesterday could have a potentially devastating effect on the economy.@@@@1@22@@oe@2-2-2013
22265006@unknown@formal@none@1@S@Copper fell and showed little rebound through the day as one of the major supply problems that had been supporting prices appeared to be solved.@@@@1@25@@oe@2-2-2013
22265007@unknown@formal@none@1@S@Crude oil declined early, but as the stock market retained early gains, it, too, became stronger, ending with a small net loss.@@@@1@22@@oe@2-2-2013
22265008@unknown@formal@none@1@S@Trading in cotton and sugar was nervous and showed small declines.@@@@1@11@@oe@2-2-2013
22265009@unknown@formal@none@1@S@In Chicago, grain and soybean prices rose slightly.@@@@1@8@@oe@2-2-2013
22265010@unknown@formal@none@1@S@Livestock and meat prices, however, dropped on concern that a financial crisis would cut consumption of beef and pork.@@@@1@19@@oe@2-2-2013
22265011@unknown@formal@none@1@S@In commodity markets yesterday: PRECIOUS METALS: Futures prices were moderately higher as gold gave up some of its early gains and platinum behaved independently, first falling and then later rising.@@@@1@30@@oe@2-2-2013
22265012@unknown@formal@none@1@S@Silver performed quietly.@@@@1@3@@oe@2-2-2013
22265013@unknown@formal@none@1@S@The spot October gold price rose $4 to $367.30 an ounce.@@@@1@11@@oe@2-2-2013
22265014@unknown@formal@none@1@S@The more active December delivery gold settled with a gain of $3.90 an ounce at $371.20, after trading as high as $374.@@@@1@22@@oe@2-2-2013
22265015@unknown@formal@none@1@S@December silver was up 2.3 cents an ounce at $5.163.@@@@1@10@@oe@2-2-2013
22265016@unknown@formal@none@1@S@Platinum behaved more like an industrial metal, easing early on concern over a possible weaker economy, but recovering later, as the stock market strengthened.@@@@1@24@@oe@2-2-2013
22265017@unknown@formal@none@1@S@Gold was nowhere the spectacular performer it was two years ago on Black Monday.@@@@1@14@@oe@2-2-2013
22265018@unknown@formal@none@1@S@For one thing, last Friday, precious metals markets closed before the stock market went into its late-in-the-day nose dive, so it couldn't react to it.@@@@1@25@@oe@2-2-2013
22265019@unknown@formal@none@1@S@Back on Friday, Oct. 16, l987, the stock market declined during the day, and gold prices surged as the stock market fell.@@@@1@22@@oe@2-2-2013
22265020@unknown@formal@none@1@S@The October 1987 contract that day rose as much as $8.70 to as high as $471.60, and the more deferred positions, due to mature as late as March 1989, rose as much as $9.60.@@@@1@34@@oe@2-2-2013
22265021@unknown@formal@none@1@S@On Black Monday, Oct. 19, 1987, the October contract tacked on further gains, rising to as high as $491.50 for a gain of almost $20 on top of the Friday advances, before giving up almost $10 of that at the close.@@@@1@41@@oe@2-2-2013
22265022@unknown@formal@none@1@S@Yesterday's October gain of $4 was miniscule compared with that.@@@@1@10@@oe@2-2-2013
22265023@unknown@formal@none@1@S@One analyst, Peter Cardillo of Josephthal & Co., New York, said the gold market already had some good price-supporting technical factors that would have caused prices to rise, with or without the stock market.@@@@1@34@@oe@2-2-2013
22265024@unknown@formal@none@1@S@"What the stock market did was cause the rise to take place earlier than it would have happened," said Mr. Cardillo.@@@@1@21@@oe@2-2-2013
22265025@unknown@formal@none@1@S@There's a good chance that gold will retain its gains and rise further, he said.@@@@1@15@@oe@2-2-2013
22265026@unknown@formal@none@1@S@He expects a drop in interest rates, which would help gold by keeping the dollar from rising.@@@@1@17@@oe@2-2-2013
22265027@unknown@formal@none@1@S@Finally, according to Mr. Cardillo, the impact of the strong dollar should be reflected in reduced exports in the August merchandise trade deficit, when the figures are released today.@@@@1@29@@oe@2-2-2013
22265028@unknown@formal@none@1@S@This would be damaging to the dollar and supportive for gold, he said.@@@@1@13@@oe@2-2-2013
22265029@unknown@formal@none@1@S@ENERGY:@@@@1@1@@oe@2-2-2013
22265030@unknown@formal@none@1@S@Worried that Friday's 190-point stock market plunge might be a harbinger of things to come for the economy, petroleum futures traders called a halt to the recent string of increases in crude oil futures prices.@@@@1@35@@oe@2-2-2013
22265031@unknown@formal@none@1@S@The U.S. benchmark crude, West Texas Intermediate, closed at $20.59 a barrel for November delivery, down 30 cents.@@@@1@18@@oe@2-2-2013
22265032@unknown@formal@none@1@S@Some analysts said crude was due for a correction anyhow, following several days of significant gains.@@@@1@16@@oe@2-2-2013
22265033@unknown@formal@none@1@S@But most market observers agreed that Friday's stock market drop is what dampened spirits in the petroleum pits yesterday.@@@@1@19@@oe@2-2-2013
22265034@unknown@formal@none@1@S@Until yesterday, futures prices had been headed up on expectations that world oil demand will continue to be strong.@@@@1@19@@oe@2-2-2013
22265035@unknown@formal@none@1@S@The Organization of Petroleum Exporting Countries increased its production ceiling for the fourth quarter based on projections of robust demand.@@@@1@20@@oe@2-2-2013
22265036@unknown@formal@none@1@S@So any bearish indicator, such as Friday's precipitous drop in the stock market, sends shivers through the oil markets as well.@@@@1@21@@oe@2-2-2013
22265037@unknown@formal@none@1@S@Indeed, after reacting early in the trading day to Friday's plummet, futures prices firmed up again as traders took note of the stock market's partial recovery yesterday.@@@@1@27@@oe@2-2-2013
22265038@unknown@formal@none@1@S@COPPER:@@@@1@1@@oe@2-2-2013
22265039@unknown@formal@none@1@S@Futures prices fell and showed little rebound as one major labor problem that had been underpinning prices appeared to be solved.@@@@1@21@@oe@2-2-2013
22265040@unknown@formal@none@1@S@The December contract declined 3.05 cents a pound to $1.2745.@@@@1@10@@oe@2-2-2013
22265041@unknown@formal@none@1@S@Prices were down from the outset of trading on concern that a drop in the stock market might create a weakened economy and a consequent reduction in copper use.@@@@1@29@@oe@2-2-2013
22265042@unknown@formal@none@1@S@But the recovery in the stock market provided little help for copper as word spread that a three-month strike at the Highland Valley mine in British Columbia was about over, according to an analyst.@@@@1@34@@oe@2-2-2013
22265043@unknown@formal@none@1@S@Highland Valley is a large Canadian producer and principal supplier to Japan, which recently began seeking copper elsewhere as its inventories shrank.@@@@1@22@@oe@2-2-2013
22265044@unknown@formal@none@1@S@Last week it was reported that company and union negotiations had overcome the major hurdle, the contracting out of work by the company.@@@@1@23@@oe@2-2-2013
22265045@unknown@formal@none@1@S@Now, the analyst said, only minor points remain to be cleaned up.@@@@1@12@@oe@2-2-2013
22265046@unknown@formal@none@1@S@"For all intents and purposes, an agreement appears to have been achieved," he said.@@@@1@14@@oe@2-2-2013
22265047@unknown@formal@none@1@S@Copper inventories in New York's Commodity Exchange warehouses rose yesterday by 516 tons, to 10,004 tons.@@@@1@16@@oe@2-2-2013
22265048@unknown@formal@none@1@S@London Metal Exchange copper inventories last week declined 13,575 tons, to 89,300 tons.@@@@1@13@@oe@2-2-2013
22265049@unknown@formal@none@1@S@The LME stocks decline was about as expected, but the Comex gain wasn't.@@@@1@13@@oe@2-2-2013
22265050@unknown@formal@none@1@S@However, this was brushed aside by concern over the stock market, the analyst said.@@@@1@14@@oe@2-2-2013
22265051@unknown@formal@none@1@S@At one point in futures trading, as the stock market firmed, the December contract rose to as high as $1.2965, but it wasn't able to sustain the gain.@@@@1@28@@oe@2-2-2013
22265052@unknown@formal@none@1@S@"It was simply overbought," he said, and selling by funds that are computer guided helped depress prices.@@@@1@17@@oe@2-2-2013
22265053@unknown@formal@none@1@S@COTTON:@@@@1@1@@oe@2-2-2013
22265054@unknown@formal@none@1@S@Futures prices eased, more in reaction to Hurricane Jerry than to any influence of the stock market.@@@@1@17@@oe@2-2-2013
22265055@unknown@formal@none@1@S@The December contract ended with a loss of 0.22 cent a pound, at 74.48 cents.@@@@1@15@@oe@2-2-2013
22265056@unknown@formal@none@1@S@Technical considerations following the hurricane, which was a factor in the market Friday, caused prices to decline yesterday, said Ernest Simon, cotton specialist for Prudential-Bache Securities, New York.@@@@1@28@@oe@2-2-2013
22265057@unknown@formal@none@1@S@Prices rose sharply Friday as the storm approached Texas and Louisiana, which is part of the Mississippi Delta cotton-growing area.@@@@1@20@@oe@2-2-2013
22265058@unknown@formal@none@1@S@However, after absorbing the potential effect of the hurricane, prices began to slip late Friday, Mr. Simon said.@@@@1@18@@oe@2-2-2013
22265059@unknown@formal@none@1@S@That selling continued yesterday and kept prices under pressure, he said.@@@@1@11@@oe@2-2-2013
22265060@unknown@formal@none@1@S@Colder weather is being predicted for the high plains of Texas and the northern states of the Delta during the coming weekend, Mr. Simon said.@@@@1@25@@oe@2-2-2013
22265061@unknown@formal@none@1@S@That hasn't yet captured traders' attention, he added.@@@@1@8@@oe@2-2-2013
22265062@unknown@formal@none@1@S@SUGAR:@@@@1@1@@oe@2-2-2013
22265063@unknown@formal@none@1@S@Futures prices declined.@@@@1@3@@oe@2-2-2013
22265064@unknown@formal@none@1@S@The March contract was off 0.32 cent a pound at 13.97 cents.@@@@1@12@@oe@2-2-2013
22265065@unknown@formal@none@1@S@At one point in early trading the March price rose to as high as 14.22 cents when the stock market recovered, but the price then fell back.@@@@1@27@@oe@2-2-2013
22265066@unknown@formal@none@1@S@A price-depressing factor, one analyst said, was that India, which had been expected to buy around 200,000 tons of sugar in the world market, didn't make any purchases.@@@@1@28@@oe@2-2-2013
22265067@unknown@formal@none@1@S@India recently bought 200,000 tons and was expected to buy more, the analyst said.@@@@1@14@@oe@2-2-2013
22265068@unknown@formal@none@1@S@Another analyst thought that India may have pulled back because of the concern over the stock market.@@@@1@17@@oe@2-2-2013
22265069@unknown@formal@none@1@S@"India may have felt that if there was a severe drop in the stock market and it affected sugar, it could buy at lower prices," said Judith Ganes, analyst for Shearson Lehman Hutton, New York.@@@@1@35@@oe@2-2-2013
22265070@unknown@formal@none@1@S@At any rate, she added, "India needs the sugar, so it will be in sooner or later to buy it."@@@@1@20@@oe@2-2-2013
22265071@unknown@formal@none@1@S@FARM PRODUCTS:@@@@1@2@@oe@2-2-2013
22265072@unknown@formal@none@1@S@The prices of cattle and hog futures contracts dropped sharply because traders speculated that the stock market plunge Friday will linger in the minds of U.S. consumers long enough to prompt them to rein in their spending at the supermarket, which would hurt demand for beef and pork.@@@@1@48@@oe@2-2-2013
22265073@unknown@formal@none@1@S@The price of the hog contract for October delivery dropped its maximum permissible daily limit of 1.5 cents a pound.@@@@1@20@@oe@2-2-2013
22265074@unknown@formal@none@1@S@The prices of most grain futures contracts rose slightly yesterday out of relief that the stock market was showing signs of recovering.@@@@1@22@@oe@2-2-2013
22265075@unknown@formal@none@1@S@Earlier in the session, the prices of several soybean contracts set new lows.@@@@1@13@@oe@2-2-2013
22265076@unknown@formal@none@1@S@A broad rally began when several major processors began buying futures contracts, apparently to take advantage of the price dip.@@@@1@20@@oe@2-2-2013
22266001@unknown@formal@none@1@S@Knight-Ridder Inc. said it would report increased earnings per share for the third quarter, contrary to reported analysts' comments that the publishing company's earnings would be down.@@@@1@27@@oe@2-2-2013
22266002@unknown@formal@none@1@S@A company spokesman said he believed the confusion was caused when James Batten, Knight-Ridder's chairman and chief executive, told New York analysts two weeks ago that Knight-Ridder's earnings per share for the first nine months of 1989 would "be behind a little bit" from like period of@@@@1@47@@oe@2-2-2013
22266003@unknown@formal@none@1@S@The Knight-Ridder spokesman said the third-quarter earnings that the company plans to report Oct. 24 are expected to be up.@@@@1@20@@oe@2-2-2013
22266004@unknown@formal@none@1@S@The spokesman said he was "comfortable" with revised analysts' projections that the company would report earnings of between 62 cents and 64 cents a share, compared with the 53 cents a share it reported for the 1988 third quarter.@@@@1@39@@oe@2-2-2013
22266005@unknown@formal@none@1@S@Knight-Ridder said it agreed with estimates that net income for all of 1989 would be around $2.86 a share, compared with $2.59 a share a year earlier.@@@@1@27@@oe@2-2-2013
22266006@unknown@formal@none@1@S@In New York Stock Exchange composite trading yesterday, Knight-Ridder closed at $51.75, down 37.5 cents.@@@@1@15@@oe@2-2-2013
22267001@unknown@formal@none@1@S@DD Acquisition Corp. said it extended its $45-a-share offer for Dunkin' Donuts Inc. to Nov. 1 from yesterday.@@@@1@18@@oe@2-2-2013
22267002@unknown@formal@none@1@S@The offer has an indicated value of $268 million.@@@@1@9@@oe@2-2-2013
22267003@unknown@formal@none@1@S@DD Acquisition is a partnership of Unicorp Canada Corp.'s Kingsbridge Capital Group unit and Cara Operations Ltd.@@@@1@17@@oe@2-2-2013
22267004@unknown@formal@none@1@S@As previously reported, under the terms of a confidentiality agreement with Dunkin' Donuts, the partners agreed to keep their offer open until Nov. 1, and not to acquire any additional shares except through a tender offer expiring on that date.@@@@1@40@@oe@2-2-2013
22267005@unknown@formal@none@1@S@DD Acquisition said that it already owns 15% of the common shares of the doughnut shop chain and that as of the close of business Friday an additional 11% had been tendered to its offer.@@@@1@35@@oe@2-2-2013
22267006@unknown@formal@none@1@S@Dunkin' Donuts is based in Randolph, Mass.@@@@1@7@@oe@2-2-2013
22267007@unknown@formal@none@1@S@Cara Operations, a food services concern, and Unicorp, a holding company with interests in oil and natural gas and financial services, are based in Toronto.@@@@1@25@@oe@2-2-2013
22268001@unknown@formal@none@1@S@Golden West Financial Corp., riding above the turbulence that has troubled most of the thrift industry, posted a 16% increase of third-quarter earnings to $41.8 millon, or 66 cents a share.@@@@1@31@@oe@2-2-2013
22268002@unknown@formal@none@1@S@The company earned $36 million, or 57 cents a share, in the year-ago quarter.@@@@1@14@@oe@2-2-2013
22268003@unknown@formal@none@1@S@Herbert M. Sandler, chairman and chief executive officer of the Oakland, Calif., savings-and-loan holding company, credited the high number of loans added to the company's portfolio over the last 12 months for broadening its earning asset base and improving profit performance.@@@@1@41@@oe@2-2-2013
22268004@unknown@formal@none@1@S@However, the executive noted that slackening demand for new mortgages depressed new loan originations to $1 billion, 30% below the same period last year.@@@@1@24@@oe@2-2-2013
22268005@unknown@formal@none@1@S@In savings activity, Mr. Sandler said consumer deposits have enjoyed a steady increase throughout 1989, and topped $11 billion at quarter's end for the first time in the company's history.@@@@1@30@@oe@2-2-2013
22268006@unknown@formal@none@1@S@Deposit growth amounted to $393 million, more than double the year-ago figure.@@@@1@12@@oe@2-2-2013
22269001@unknown@formal@none@1@S@Whirlpool Corp., Benton Harbor, Mich., said it has developed a process to recover environmentally harmful chlorofluorocarbons, or CFCs, that previously entered the atmosphere during in-home repair of refrigerators and freezers.@@@@1@30@@oe@2-2-2013
22269002@unknown@formal@none@1@S@The maker of home appliances said the process, which involves the use of a multilayer plastic bag during repairs to capture the gaseous substance and transport it to a recycling center, is already in use at a number of its service centers, and will be available to all authorized repair centers by spring.@@@@1@53@@oe@2-2-2013
22269003@unknown@formal@none@1@S@Earlier repairs vented the CFCs out of the home through a hose directly into the atmosphere.@@@@1@16@@oe@2-2-2013
22269004@unknown@formal@none@1@S@CFCs are widely used as solvents, coolants and fire suppressants.@@@@1@10@@oe@2-2-2013
22269005@unknown@formal@none@1@S@But their use has been linked to a potentially dangerous depletion of the Earth's ozone layer, and a number of companies are seeking to curtail use, or at least emission, of the substance.@@@@1@33@@oe@2-2-2013
22269006@unknown@formal@none@1@S@Whirpool said, "We see this process as a small but important step toward eventual elimination of CFC use in appliance manufacture.@@@@1@21@@oe@2-2-2013
22270001@unknown@formal@none@1@S@Maxus Energy Corp., Dallas, said it discovered a new oil field northeast of its previously discovered Intan Field in the southeast Sumatra area of Indonesia.@@@@1@25@@oe@2-2-2013
22270002@unknown@formal@none@1@S@Maxus said it didn't run a production test on the three discovery wells it drilled in the field, which is about 1.6 miles from the Intan Field, because the wells are similar to others drilled at its Intan and Widuri fields.@@@@1@41@@oe@2-2-2013
22270003@unknown@formal@none@1@S@However, Maxus said it believes the reserves in the field are about 10 million barrels of oil.@@@@1@17@@oe@2-2-2013
22270004@unknown@formal@none@1@S@The Intan Field has estimated reserves of 50 million barrels and the Widuri Field has estimated reserves of 225 million barrels.@@@@1@21@@oe@2-2-2013
22270005@unknown@formal@none@1@S@Maxus, an independent oil and gas concern, is the operator and owns a 56% interest in the new field, called Northeast Intan.@@@@1@22@@oe@2-2-2013
22270006@unknown@formal@none@1@S@Other interests are owned by BP Petroleum Development (SES) Ltd., C. Itoh Energy Co. Ltd., Deminex Sumatra OEL G.m.b.H., Hispanoil (Sumatra) Production Ltd., Hudbay Oil (Indonesia) Ltd., Inpex Sumatra Co. Ltd., Lasmo Sumatra Ltd., Sunda Shell, TCR Sumat A.G. and Warrior Oil Co.@@@@1@43@@oe@2-2-2013
22270007@unknown@formal@none@1@S@The production-sharing contract area is held with Pertamina, the Indonesian state oil company.@@@@1@13@@oe@2-2-2013
22271001@unknown@formal@none@1@S@Environmental Systems Co. said it is restating its results to reduce its reported net income for the first nine months of its fiscal year after discovering it took tax credits that already had been taken last year.@@@@1@37@@oe@2-2-2013
22271002@unknown@formal@none@1@S@The Little Rock, Ark., hazardous-waste services company said the restatement will reduce its net for the nine months ended July 31 to $2.5 million, or 17 cents a share, from $3.7 million, or 26 cents a share.@@@@1@37@@oe@2-2-2013
22271003@unknown@formal@none@1@S@Net for the third quarter, restated, is $1.6 million, or 10 cents a share.@@@@1@14@@oe@2-2-2013
22271004@unknown@formal@none@1@S@The company previously reported net of $2.3 million, or 15 cents a share.@@@@1@13@@oe@2-2-2013
22271005@unknown@formal@none@1@S@The company said that for financial reporting purposes last year it took tax credits that will be recognized for tax purposes this year.@@@@1@23@@oe@2-2-2013
22271006@unknown@formal@none@1@S@But because of confusion, it took those credits again in reporting its results through the first nine months.@@@@1@18@@oe@2-2-2013
22271007@unknown@formal@none@1@S@Jack W. Forrest, Environmental Systems president and chief executive officer, said the change increases the company's effective tax rate to about 35% from 20%.@@@@1@24@@oe@2-2-2013
22272001@unknown@formal@none@1@S@Memotec Data Inc. said it signed a definitive merger agreement with ISI Systems Inc. under which Memotec will acquire ISI for $20 (U.S.) a share, or about $130 million, in cash and securities.@@@@1@33@@oe@2-2-2013
22272002@unknown@formal@none@1@S@In American Stock Exchange composite trading, ISI closed up $3.125 at $18.625.@@@@1@12@@oe@2-2-2013
22272003@unknown@formal@none@1@S@In Montreal Exchange trading, Memotec closed unchanged at 10.625 Canadian dollars (US$9.05).@@@@1@12@@oe@2-2-2013
22272004@unknown@formal@none@1@S@Memotec said under the agreement, ISI, a Braintree, Mass., provider of computer software and services to the insurance industry, will merge with a U.S. unit of Memotec created for that purpose.@@@@1@31@@oe@2-2-2013
22272005@unknown@formal@none@1@S@Memotec is a Montreal-based maker of telecommunications products and provider of telecommunications and computer services.@@@@1@15@@oe@2-2-2013
22272006@unknown@formal@none@1@S@Memotec said the agreement calls for it to make a $20-a-share cash tender offer for all shares outstanding of ISI.@@@@1@20@@oe@2-2-2013
22272007@unknown@formal@none@1@S@But it said Charles Johnston, ISI chairman and president, agreed to sell his 60% stake in ISI to Memotec upon completion of the tender offer for a combination of cash, Memotec stock and debentures.@@@@1@34@@oe@2-2-2013
22272008@unknown@formal@none@1@S@Memotec said the tender offer is conditioned on, among other things, holders tendering at least 15% of the shares outstanding, other than the shares held by Mr. Johnston.@@@@1@28@@oe@2-2-2013
22272009@unknown@formal@none@1@S@ISI said its board has instructed management to accept inquiries from any others interested in making a bid.@@@@1@18@@oe@2-2-2013
22272010@unknown@formal@none@1@S@ISI said it can withdraw from the merger agreement with Memotec if a better bid surfaces.@@@@1@16@@oe@2-2-2013
22273001@unknown@formal@none@1@S@CMS Energy Corp., Jackson, Mich., said it has resumed the purchase of its common stock under a program approved by its directors in 1987.@@@@1@24@@oe@2-2-2013
22273002@unknown@formal@none@1@S@At the time of the original announcement, CMS said its board authorized the purchase of as many as five million of its shares.@@@@1@23@@oe@2-2-2013
22273003@unknown@formal@none@1@S@A spokesman said 2.6 million shares have been purchased since then.@@@@1@11@@oe@2-2-2013
22273004@unknown@formal@none@1@S@The company said it will buy additional shares "from time to time in the open market or in private transactions at prevailing market prices."@@@@1@24@@oe@2-2-2013
22273005@unknown@formal@none@1@S@In composite trading on the New York Stock Exchange, CMS Energy closed at $34.375 a share, down 62.5 cents, from the closing price of $37.375 a share on Thursday, before Friday's plunge.@@@@1@32@@oe@2-2-2013
22273006@unknown@formal@none@1@S@The utility company currently has about 82.1 million shares outstanding.@@@@1@10@@oe@2-2-2013
22273007@unknown@formal@none@1@S@Morgan Stanley & Co. will act as the exclusive broker for the repurchase.@@@@1@13@@oe@2-2-2013
22274001@unknown@formal@none@1@S@Hughes Aircraft Co., a unit of General Motors Corp., said it agreed to purchase the Electro-Optics Technology division of Perkin-Elmer Corp.@@@@1@21@@oe@2-2-2013
22274002@unknown@formal@none@1@S@Terms of the agreement weren't disclosed.@@@@1@6@@oe@2-2-2013
22274003@unknown@formal@none@1@S@But for the fiscal year ended July 31, 1988, the most recent period for which results were broken out, the Perkin-Elmer unit accounted for more than half the $145 million in sales recorded by the company's government systems sector.@@@@1@39@@oe@2-2-2013
22274004@unknown@formal@none@1@S@Perkin-Elmer, which is based in Norwalk, Conn., said the sale of the Danbury, Conn., unit is consistent with its restructuring strategy announced in April.@@@@1@24@@oe@2-2-2013
22274005@unknown@formal@none@1@S@In addition to making electro-optical systems, the unit also makes laser warning receivers.@@@@1@13@@oe@2-2-2013
22274006@unknown@formal@none@1@S@These are used aboard military helicopters to warn pilots that a laser weapon has been focused on them.@@@@1@18@@oe@2-2-2013
22274007@unknown@formal@none@1@S@Hughes of Los Angeles said the PerkinElmer unit's work complements efforts by its Electro-Optical and Data Systems group, which makes infrared sensors, military lasers and night vision equipment.@@@@1@28@@oe@2-2-2013
22274008@unknown@formal@none@1@S@Hughes said it expects the sale to close by year end.@@@@1@11@@oe@2-2-2013
22275001@unknown@formal@none@1@S@The Communications Workers of America ratified a new regional contract and all but one of the local agreements with Bell Atlantic Corp.@@@@1@22@@oe@2-2-2013
22275002@unknown@formal@none@1@S@CWA's New Jersey Commercial local, which represents about 2,500 service representatives and marketing employees, rejected the tentative agreement.@@@@1@18@@oe@2-2-2013
22275003@unknown@formal@none@1@S@Both the union and the regional telephone company said they were working together to resolve differences.@@@@1@16@@oe@2-2-2013
22275004@unknown@formal@none@1@S@The new three-year contracts, which replace ones that expired Aug. 5, cover 41,000 Bell Atlantic employees.@@@@1@16@@oe@2-2-2013
22275005@unknown@formal@none@1@S@The ratification follows a 23-day strike against the Philadelphia-based company.@@@@1@10@@oe@2-2-2013
22275006@unknown@formal@none@1@S@Meanwhile, CWA and International Brotherhood of Electrical Workers members remain on strike against Nynex Corp., the New York-based regional phone company.@@@@1@21@@oe@2-2-2013
22275007@unknown@formal@none@1@S@The unions and the company last week agreed to mediation.@@@@1@10@@oe@2-2-2013
22275008@unknown@formal@none@1@S@The CWA represents 40,000 Nynex workers and the IBEW represents 20,000 workers.@@@@1@12@@oe@2-2-2013
22276001@unknown@formal@none@1@S@For the moment, at least, euphoria has replaced anxiety on Wall Street.@@@@1@12@@oe@2-2-2013
22276002@unknown@formal@none@1@S@The Dow Jones Industrial Average jumped sharply yesterday to close at 2657.38, panic didn't sweep the world's markets, and investors large and small seemed to accept Friday's dizzying 190-point plunge as a sharp correction, not a calamity.@@@@1@37@@oe@2-2-2013
22276003@unknown@formal@none@1@S@Many went bargain-hunting.@@@@1@3@@oe@2-2-2013
22276004@unknown@formal@none@1@S@Among those sighing with relief was John H. Gutfreund, chairman of Salomon Brothers, who took to the firm's trading floor to monitor yesterday's events.@@@@1@24@@oe@2-2-2013
22276005@unknown@formal@none@1@S@As the rally gained strength at 3:15 p.m., he smiled broadly, brandished his unlit cigar and slapped Stanley Shopkorn, his top stock trader, on the back.@@@@1@26@@oe@2-2-2013
22276006@unknown@formal@none@1@S@At first, it seemed as if history might repeat itself.@@@@1@10@@oe@2-2-2013
22276007@unknown@formal@none@1@S@As trading opened yesterday morning on the Big Board, stocks of many of the nation's biggest companies couldn't open for trading because a wave of sell orders was overwhelming buyers.@@@@1@30@@oe@2-2-2013
22276008@unknown@formal@none@1@S@By 10:10, the Dow Industrials were off 63.52 points, and the stock of UAL Corp., whose troubles had kicked off Friday's plunge, still hadn't opened.@@@@1@25@@oe@2-2-2013
22276009@unknown@formal@none@1@S@But then, as quickly as the Dow had fallen, it began to turn around.@@@@1@14@@oe@2-2-2013
22276010@unknown@formal@none@1@S@It ended with a gain of 88.12 points.@@@@1@8@@oe@2-2-2013
22276011@unknown@formal@none@1@S@By the market's close, volume on the New York exchange totaled more than 416 million, the fourth highest on record.@@@@1@20@@oe@2-2-2013
22276012@unknown@formal@none@1@S@The Big Board handled the huge volume without any obvious strain, in sharp contrast to Black Monday of 1987.@@@@1@19@@oe@2-2-2013
22276013@unknown@formal@none@1@S@But the rally was largely confined to the blue-chip stocks, which had been hard hit during Friday's selling frenzy.@@@@1@19@@oe@2-2-2013
22276014@unknown@formal@none@1@S@Overall, more Big Board stocks lost money than gained.@@@@1@9@@oe@2-2-2013
22276015@unknown@formal@none@1@S@And many arbitragers, already reeling from Friday's collapse of the UAL deal, were further hurt yesterday when a proposed takeover of AMR Corp., the parent of American Airlines, collapsed.@@@@1@29@@oe@2-2-2013
22276016@unknown@formal@none@1@S@Indeed, the Dow Jones Transportation Average plunged 102.06 points, its second-worst drop in history.@@@@1@14@@oe@2-2-2013
22276017@unknown@formal@none@1@S@World-wide, trading was generally manageable.@@@@1@5@@oe@2-2-2013
22276018@unknown@formal@none@1@S@The Frankfurt stock exchange was hardest hit of the major markets, with blue chips there falling 12.8%.@@@@1@17@@oe@2-2-2013
22276019@unknown@formal@none@1@S@In London, a midday rally left the market's major index off 3.2%, and Tokyo's leading stock index fell only 1.8% in surprisingly lackluster trading.@@@@1@24@@oe@2-2-2013
22276020@unknown@formal@none@1@S@Other, more thinly traded Asian markets were hit harder than Tokyo's, but there were no free-fall declines.@@@@1@17@@oe@2-2-2013
22276021@unknown@formal@none@1@S@Investors big and small say they learned valuable lessons since the 1987 crash: In this age of computerized trading, huge corrections or runups in a few hours' time must be expected.@@@@1@31@@oe@2-2-2013
22276022@unknown@formal@none@1@S@What's more, such short-term cataclysms are survivable and are no cause for panic selling.@@@@1@14@@oe@2-2-2013
22276023@unknown@formal@none@1@S@Stephen Boesel, a major money manager for T. Rowe Price in Baltimore, says, "There was less panic than in 1987: We had been through it once."@@@@1@26@@oe@2-2-2013
22276024@unknown@formal@none@1@S@In Somerset, Wis., Adrian Sween, who owns a supplier of nursing-home equipment and isn't active in the stock market, agrees.@@@@1@20@@oe@2-2-2013
22276025@unknown@formal@none@1@S@"I look at it as a ho-hum matter," he says.@@@@1@10@@oe@2-2-2013
22276026@unknown@formal@none@1@S@Many other factors played a part in yesterday's comeback.@@@@1@9@@oe@2-2-2013
22276027@unknown@formal@none@1@S@The Federal Reserve signaled its willingness to provide liquidity; the interest rate on its loans to major banks inched downward early in the day.@@@@1@24@@oe@2-2-2013
22276028@unknown@formal@none@1@S@Foreign stock markets, which kicked off Black Monday with a huge selling spree, began the day off by relatively modest amounts.@@@@1@21@@oe@2-2-2013
22276029@unknown@formal@none@1@S@The dollar, after falling sharply in overnight trading to 139.10 yen, bounced back strongly to 141.8, thus easing fears that foreigners would unload U.S. stocks.@@@@1@25@@oe@2-2-2013
22276030@unknown@formal@none@1@S@And the widely disseminated opinion among most market experts that a crash wasn't in store also helped calm investors.@@@@1@19@@oe@2-2-2013
22276031@unknown@formal@none@1@S@Many major institutions, for example, came into work yesterday ready to buy some of the blue chips they felt had been sharply undervalued on Friday.@@@@1@25@@oe@2-2-2013
22276032@unknown@formal@none@1@S@Still, amid all the backslapping and signs of relief over yesterday's events, some market professionals cautioned that there is nothing present in the current market system to prevent another dizzying drop such as Friday's.@@@@1@34@@oe@2-2-2013
22276033@unknown@formal@none@1@S@"There is too much complacency," says money manager Barry Schrager.@@@@1@10@@oe@2-2-2013
22276034@unknown@formal@none@1@S@Computers have increasingly connected securities markets world-wide, so that a buying or selling wave in one market is often passed around the globe.@@@@1@23@@oe@2-2-2013
22276035@unknown@formal@none@1@S@So investors everywhere nervously eyed yesterday's opening in Tokyo, where the Nikkei average of 225 blue-chip stocks got off to a rocky start.@@@@1@23@@oe@2-2-2013
22276036@unknown@formal@none@1@S@The average plunged some 600 points, or 1.7%, in the first 20 minutes of trading.@@@@1@15@@oe@2-2-2013
22276037@unknown@formal@none@1@S@But the selling wave had no conviction, and the market first surged upward by 200 points, then drifted lower, closing down 647.@@@@1@22@@oe@2-2-2013
22276038@unknown@formal@none@1@S@Unlike two years ago, most of Japan's major investors chose to sit this calamity out.@@@@1@15@@oe@2-2-2013
22276039@unknown@formal@none@1@S@In Merrill Lynch & Co.'s Tokyo trading room, some 40 traders and assistants sat quietly, with few orders to process.@@@@1@20@@oe@2-2-2013
22276040@unknown@formal@none@1@S@Clients "are all staying out" of the market, one Merrill trader says.@@@@1@12@@oe@2-2-2013
22276041@unknown@formal@none@1@S@The relative calm in Tokyo proved little comfort to markets opening up in Europe.@@@@1@14@@oe@2-2-2013
22276042@unknown@formal@none@1@S@Frankfurt's opening was delayed a half hour because of a crush of sell orders.@@@@1@14@@oe@2-2-2013
22276043@unknown@formal@none@1@S@"The beginning was chaotic," says Nigel Longley, a broker for Commerzbank@@@@1@11@@oe@2-2-2013
22276044@unknown@formal@none@1@S@In London, the view from the trading floor of an American securities firm, Jefferies & Co., also was troubling.@@@@1@19@@oe@2-2-2013
22276045@unknown@formal@none@1@S@A computer screen displaying 100 blue-chip stocks colors each one red when its price is falling.@@@@1@16@@oe@2-2-2013
22276046@unknown@formal@none@1@S@The screen was a sea of red.@@@@1@7@@oe@2-2-2013
22276047@unknown@formal@none@1@S@"I see concern, but I don't see panic," says J. Francis Palamara, a New Yorker who runs the 15-trader office.@@@@1@20@@oe@2-2-2013
22276048@unknown@formal@none@1@S@London's blue-chip stock index turned up just before 8 a.m. New York time, sending an encouraging message to Wall Street.@@@@1@20@@oe@2-2-2013
22276049@unknown@formal@none@1@S@When trading opened in New York at 9:30 a.m. EDT, stocks fell sharply -- as expected.@@@@1@16@@oe@2-2-2013
22276050@unknown@formal@none@1@S@Futures markets in Chicago had opened at a level suggesting the Dow would fall by about 60 points.@@@@1@18@@oe@2-2-2013
22276051@unknown@formal@none@1@S@With sell orders piled up from Friday, about half the stocks in the Dow couldn't open on time.@@@@1@18@@oe@2-2-2013
22276052@unknown@formal@none@1@S@By 9:45, the industrial average had dropped 27 points.@@@@1@9@@oe@2-2-2013
22276053@unknown@formal@none@1@S@By 10 a.m., it was down 49.@@@@1@7@@oe@2-2-2013
22276054@unknown@formal@none@1@S@Ten minutes later, the Dow hit bottom-down 63.52 points, another 2.5%.@@@@1@11@@oe@2-2-2013
22276055@unknown@formal@none@1@S@But shortly before then, some of Wall Street's sharpest traders say, they sensed a turn.@@@@1@15@@oe@2-2-2013
22276056@unknown@formal@none@1@S@"The first thing that caught my eye that was encouraging was Treasury bonds were off," says Austin George, head of stock trading at T. Rowe Price.@@@@1@26@@oe@2-2-2013
22276057@unknown@formal@none@1@S@"It meant that people weren't running pell-mell to the safety of bonds."@@@@1@12@@oe@2-2-2013
22276058@unknown@formal@none@1@S@Shortly after 10 a.m., the Major Market Index, a Chicago Board of Trade futures contract of 20 stocks designed to mimic the DJIA, exploded upward.@@@@1@25@@oe@2-2-2013
22276059@unknown@formal@none@1@S@Stock traders were buoyed -- because an upturn in the MMI had also started the recovery in stocks on the Tuesday following Black Monday.@@@@1@24@@oe@2-2-2013
22276060@unknown@formal@none@1@S@"The MMI has gone better," shouted a trader in the London office of Shearson Lehman Hutton.@@@@1@16@@oe@2-2-2013
22276061@unknown@formal@none@1@S@Shearson's London trading room went wild.@@@@1@6@@oe@2-2-2013
22276062@unknown@formal@none@1@S@Traders shouted out as their Reuters, Quotron and Telerate screens posted an ever-narrowing loss on Wall Street.@@@@1@17@@oe@2-2-2013
22276063@unknown@formal@none@1@S@Then, nine minutes later, Wall Street suddenly rebounded to a gain on the day.@@@@1@14@@oe@2-2-2013
22276064@unknown@formal@none@1@S@"Rally, rally, rally," shouted Shearson's Andy Rosen.@@@@1@7@@oe@2-2-2013
22276065@unknown@formal@none@1@S@"This is panic buying."@@@@1@4@@oe@2-2-2013
22276066@unknown@formal@none@1@S@Major blue-chip stocks like Philip Morris, General Motors and Proctor & Gamble led the rally.@@@@1@15@@oe@2-2-2013
22276067@unknown@formal@none@1@S@Japanese were said to be heavy buyers.@@@@1@7@@oe@2-2-2013
22276068@unknown@formal@none@1@S@German and Dutch investors reportedly loaded up on Kellogg Co.@@@@1@10@@oe@2-2-2013
22276069@unknown@formal@none@1@S@Then, traders say, corporations with share buy-back programs kicked into high gear, triggering gains in, among other issues, Alcan Aluminium and McDonald's.@@@@1@22@@oe@2-2-2013
22276070@unknown@formal@none@1@S@Walt Disney Co., which had one of the biggest sell-order imbalances on Friday and was one of seven stocks that halted trading and never reopened that day, opened yesterday late at 114.5, down 8.5.@@@@1@34@@oe@2-2-2013
22276071@unknown@formal@none@1@S@But then it suddenly burst upward 7.5 as Goldman, Sachs & Co. stepped in and bought almost every share offer, traders said.@@@@1@22@@oe@2-2-2013
22276072@unknown@formal@none@1@S@By 10:25, the Dow had turned up for the day, prompting cheers on trading desks and exchange floors.@@@@1@18@@oe@2-2-2013
22276073@unknown@formal@none@1@S@Among Big Board specialists, the cry was "Pull your offers" -- meaning that specialists soon expected to get higher prices for their shares.@@@@1@23@@oe@2-2-2013
22276074@unknown@formal@none@1@S@"It was bedlam on the upside," said one Big Board specialist.@@@@1@11@@oe@2-2-2013
22276075@unknown@formal@none@1@S@"What we had was a real, old-fashioned rally."@@@@1@8@@oe@2-2-2013
22276076@unknown@formal@none@1@S@This technical strength spurred buying from Wall Street's "black boxes," computer programs designed to trigger large stock purchases during bullish periods.@@@@1@21@@oe@2-2-2013
22276077@unknown@formal@none@1@S@Typical, perhaps, was Batterymarch's Dean LeBaron.@@@@1@6@@oe@2-2-2013
22276078@unknown@formal@none@1@S@Mr. LeBaron, who manages $10 billion, says, "We turned the trading system on, and it did whatever it was programmed to do."@@@@1@22@@oe@2-2-2013
22276079@unknown@formal@none@1@S@Asked what stocks the computer bought, the money manager says, "I don't know."@@@@1@13@@oe@2-2-2013
22276080@unknown@formal@none@1@S@Not everybody was making money.@@@@1@5@@oe@2-2-2013
22276081@unknown@formal@none@1@S@The carnage on the Chicago Board Options Exchange, the nation's major options market, was heavy after the trading in S&P 100 stock-index options was halted Friday.@@@@1@26@@oe@2-2-2013
22276082@unknown@formal@none@1@S@Many market makers in the S&P 100 index options contract had bullish positions Friday, and when the shutdown came they were frozen with huge losses.@@@@1@25@@oe@2-2-2013
22276083@unknown@formal@none@1@S@Over the weekend, clearing firms told the Chicago market makers to get out of their positions at any cost Monday morning.@@@@1@21@@oe@2-2-2013
22276084@unknown@formal@none@1@S@"They were absolutely killed, slaughtered," said one Chicago-based options trader.@@@@1@10@@oe@2-2-2013
22276085@unknown@formal@none@1@S@Meanwhile, a test of the stock market's rally came at about 2 p.m., with the Dow at 2600, up 31 points on the day.@@@@1@24@@oe@2-2-2013
22276086@unknown@formal@none@1@S@Charles Clough, a strategist at Merrill Lynch, says bargain hunting had explained the Dow's strength up to that point and that many market professionals were anticipating a drop in the Dow.@@@@1@31@@oe@2-2-2013
22276087@unknown@formal@none@1@S@Moreover, the announcement that real estate magnate and sometime raider Donald Trump was withdrawing his offer for AMR Corp. might have been expected to rattle traders.@@@@1@26@@oe@2-2-2013
22276088@unknown@formal@none@1@S@Instead, the rally only paused for about 25 minutes and then steamed forward as institutions resumed buying.@@@@1@17@@oe@2-2-2013
22276089@unknown@formal@none@1@S@The market closed minutes after reaching its high for the day of@@@@1@12@@oe@2-2-2013
22276090@unknown@formal@none@1@S@Across the country, many people took yesterday's events in stride, while remaining generally uneasy about the stock market in general.@@@@1@20@@oe@2-2-2013
22276091@unknown@formal@none@1@S@Says James Norman, the mayor of Ava, Mo.: "I don't invest in stocks.@@@@1@13@@oe@2-2-2013
22276092@unknown@formal@none@1@S@I much prefer money I can put my hands on."@@@@1@10@@oe@2-2-2013
22276093@unknown@formal@none@1@S@While Mayor Norman found the market's performance Monday reassuring, he says, he remains uneasy.@@@@1@14@@oe@2-2-2013
22276094@unknown@formal@none@1@S@"We have half the experts saying one thing and half the other" about the course of the economy.@@@@1@18@@oe@2-2-2013
22276095@unknown@formal@none@1@S@Ralph Holzfaster, a farmer and farm-supply store operator in Ogallala, Neb., says of the last few days events, "If anything good comes out of this, it might be that it puts some of these LBOs on the skids."@@@@1@38@@oe@2-2-2013
22276096@unknown@formal@none@1@S@Says Gordon Fines, a money manager at IDS Financial Services in Minneapolis, "You're on a roller coaster, and that may last.@@@@1@21@@oe@2-2-2013
22276097@unknown@formal@none@1@S@The public is still cautious.@@@@1@5@@oe@2-2-2013
22277001@unknown@formal@none@1@S@Skipper's Inc., Bellevue, Wash., said it signed a definitive merger agreement for a National Pizza Corp. unit to acquire the 90.6% of Skipper's Inc. it doesn't own for $11.50 a share, or about $28.1 million.@@@@1@35@@oe@2-2-2013
22277002@unknown@formal@none@1@S@NP Acquisition Co., a National Pizza unit, plans to begin a tender offer for Skipper's on Friday, conditioned on at least two-thirds of Skipper's shares being tendered.@@@@1@27@@oe@2-2-2013
22277003@unknown@formal@none@1@S@Pittsburg, Kan.-based National Pizza said the transaction will be financed under its revolving credit agreement.@@@@1@15@@oe@2-2-2013
22277004@unknown@formal@none@1@S@In national over-the-counter trading, Skipper's shares rose 50 cents to $11.@@@@1@11@@oe@2-2-2013
22277005@unknown@formal@none@1@S@Skipper's said the merger will help finance remodeling and future growth.@@@@1@11@@oe@2-2-2013
22277006@unknown@formal@none@1@S@Skipper's previously turned down a $10-a-share proposal from National Pizza and Pizza Hut Inc. questioned whether the purchase would violate National Pizza's franchise agreements.@@@@1@24@@oe@2-2-2013
22277007@unknown@formal@none@1@S@National Pizza said it settled its dispute with Pizza Hut, allowing it to make the purchase.@@@@1@16@@oe@2-2-2013
22277008@unknown@formal@none@1@S@Also, Skipper's results began to turn around, permitting a higher offer, National Pizza said.@@@@1@14@@oe@2-2-2013
22277009@unknown@formal@none@1@S@For the 12 weeks ended Sept. 3, Skipper's had net income of $361,000, or 13 cents a share, compared with a net loss a year earlier.@@@@1@26@@oe@2-2-2013
22277010@unknown@formal@none@1@S@Revenue was $19.9 million.@@@@1@4@@oe@2-2-2013
22278001@unknown@formal@none@1@S@EAST GERMANS RALLIED as officials reportedly sought Honecker's ouster.@@@@1@9@@oe@2-2-2013
22278002@unknown@formal@none@1@S@In what was considered the largest protest in the Communist state's 40-year history, at least 120,000 demonstrators marched through the southern city of Leipzig to press demands for democratic freedoms, opposition activists said.@@@@1@33@@oe@2-2-2013
22278003@unknown@formal@none@1@S@Police didn't intervene.@@@@1@3@@oe@2-2-2013
22278004@unknown@formal@none@1@S@Meanwhile, as the first of more than 1,300 East Germans trying to flee to the West through Poland renounced their citizenship, a West German newspaper reported that regional Communist officials demanded the dismissal of hard-line leader Honecker.@@@@1@37@@oe@2-2-2013
22278005@unknown@formal@none@1@S@Secretary of State Baker, in a foreign policy speech, called for the reunification of Germany, saying it was the "legitimate right" of the German people.@@@@1@25@@oe@2-2-2013
22278006@unknown@formal@none@1@S@Gorbachev blamed the Soviet Union's press for contributing to the nation's mounting problems.@@@@1@13@@oe@2-2-2013
22278007@unknown@formal@none@1@S@At a meeting Friday, the Kremlin leader complained about recent articles that raised the possiblity of civil unrest, and accused the media of fueling panic buying of goods by publishing stories about impending shortages.@@@@1@34@@oe@2-2-2013
22278008@unknown@formal@none@1@S@House-Senate conferees approved a permanent smoking ban on domestic airline routes within the continental U.S. and on flights of less than six hours to Alaska and Hawaii.@@@@1@27@@oe@2-2-2013
22278009@unknown@formal@none@1@S@The curbs would cover all but a small percentage of flights, and represent an expansion of the current ban on flights of less than two hours.@@@@1@26@@oe@2-2-2013
22278010@unknown@formal@none@1@S@E. Robert Wallach was sentenced by a U.S. judge in New York to six years in prison and fined $250,000 for his racketeering conviction in the Wedtech scandal.@@@@1@28@@oe@2-2-2013
22278011@unknown@formal@none@1@S@Wallach, an associate of ex-Attorney General Meese, was found guilty in August of taking $425,000 in illegal payoffs from the now-defunct defense contractor.@@@@1@23@@oe@2-2-2013
22278012@unknown@formal@none@1@S@NASA resumed the countdown for today's launch of the space shuttle Atlantis, and a federal appeals court in Washington dismissed a lawsuit by anti-nuclear groups to delay the flight because the plutonium-powered Galileo space probe was aboard.@@@@1@37@@oe@2-2-2013
22278013@unknown@formal@none@1@S@The space agency said it didn't expect weather or protesters to block the liftoff.@@@@1@14@@oe@2-2-2013
22278014@unknown@formal@none@1@S@The Bush administration is preparing to extend a ban on federal financing of research using fetal tissue, government sources said.@@@@1@20@@oe@2-2-2013
22278015@unknown@formal@none@1@S@A temporary prohibition was imposed in March 1988.@@@@1@8@@oe@2-2-2013
22278016@unknown@formal@none@1@S@While anti-abortion groups are opposed to such research, scientists have said transplanting such tissue could be effective in treating diabetes.@@@@1@20@@oe@2-2-2013
22278017@unknown@formal@none@1@S@Delegates from 91 nations endorsed a ban on world ivory trade in an attempt to rescue the endangered elephant from extinction.@@@@1@21@@oe@2-2-2013
22278018@unknown@formal@none@1@S@Five African nations, however, said they would continue selling the valuable tusks.@@@@1@12@@oe@2-2-2013
22278019@unknown@formal@none@1@S@Mubarak held reconciliation talks with Gadhafi at the Egyptian resort of Mersa Metruh.@@@@1@13@@oe@2-2-2013
22278020@unknown@formal@none@1@S@It was the Libyan leader's first trip to Egypt in 16 years.@@@@1@12@@oe@2-2-2013
22278021@unknown@formal@none@1@S@They announced a reduction in formalities for travel, but didn't show any real signs of resuming full diplomatic ties.@@@@1@19@@oe@2-2-2013
22278022@unknown@formal@none@1@S@The Egyptian president said he would visit Libya today to resume the talks.@@@@1@13@@oe@2-2-2013
22278023@unknown@formal@none@1@S@Seoul and Pyongyang reached a tentative agreement to allow visits between families on the divided Korean peninsula.@@@@1@17@@oe@2-2-2013
22278024@unknown@formal@none@1@S@Such family reunions would be the second since 1945.@@@@1@9@@oe@2-2-2013
22278025@unknown@formal@none@1@S@Differences remained between the North and South Korean governments, however, over conditions for the exchanges.@@@@1@15@@oe@2-2-2013
22278026@unknown@formal@none@1@S@Freed black nationalists resumed political activity in South Africa and vowed to fight against apartheid, raising fears of a possible white backlash.@@@@1@22@@oe@2-2-2013
22278027@unknown@formal@none@1@S@The nation's main white opposition party warned that the government's release Sunday of eight black political prisoners risked bringing chaos and eventual black Marxist rule to the nation.@@@@1@28@@oe@2-2-2013
22278028@unknown@formal@none@1@S@The White House said Bush is "fully satisfied" with CIA Director Webster and the intelligence agency's performance during the Oct. 3 failed coup in Panama.@@@@1@25@@oe@2-2-2013
22278029@unknown@formal@none@1@S@The Washington Post reported that unidentified senior administration officials were frustrated with Webster's low-profile activities during the insurrection and wanted him replaced.@@@@1@22@@oe@2-2-2013
22278030@unknown@formal@none@1@S@Poland's legislature approved limits on automatic wage increases without special provisions for food price rises.@@@@1@15@@oe@2-2-2013
22278031@unknown@formal@none@1@S@The vote was considered a test of the Solidarity-led government's resolve to proceed with a harsh economic-restructuring program.@@@@1@18@@oe@2-2-2013
22278032@unknown@formal@none@1@S@Norway's King Olav V installed a three-party non-Socialist government as Gro Harlem Brundtland's three-year-old Labor regime relinquished power.@@@@1@18@@oe@2-2-2013
22278033@unknown@formal@none@1@S@The 19-member cabinet is led by Prime Minister Jan Syse, who acknowledged a "difficult situation" since the coalition controls only 62 seats in Oslo's 165-member legislature.@@@@1@26@@oe@2-2-2013
22278034@unknown@formal@none@1@S@El Salvador's government opened a new round of talks with the country's leftist rebels in an effort to end a decade-long civil war.@@@@1@23@@oe@2-2-2013
22278035@unknown@formal@none@1@S@A spokesman said the guerrillas would present a cease-fire proposal during the negotiations in Costa Rica that includes constitutional and economic changes.@@@@1@22@@oe@2-2-2013
22278036@unknown@formal@none@1@S@The State Department said there was a "possibility" that some Nicaraguan rebels were selling their U.S.-supplied arms to Salvadoran guerrillas, but insisted it wasn't an organized effort.@@@@1@27@@oe@2-2-2013
22278037@unknown@formal@none@1@S@Separately, Secretary of State Baker complained about a U.N. aide who last week told the Contras to disband as part of a regional peace accord.@@@@1@25@@oe@2-2-2013
22278038@unknown@formal@none@1@S@Died: Cornel Wilde, 74, actor and director, in Los Angeles, of leukemia. . . .@@@@1@15@@oe@2-2-2013
22278039@unknown@formal@none@1@S@Danilo Kis, 54, Yugoslav-born novelist and essayist, Sunday, in Paris, of cancer.@@@@1@12@@oe@2-2-2013
22279001@unknown@formal@none@1@S@British retail sales volume rose a provisional 0.4% in September from August and was up 2.2% from September 1988, the Department of Trade and Industry said.@@@@1@26@@oe@2-2-2013
22279002@unknown@formal@none@1@S@For the three months ended in September, retail sales volume was down 0.5% from the previous three months and up 1.2% from a year earlier.@@@@1@25@@oe@2-2-2013
22280001@unknown@formal@none@1@S@Chicago investor William Farley agreed to sell three divisions of Cluett Peabody & Co. for about $600 million to Bidermann S.A., a closely held clothing maker based in Paris.@@@@1@29@@oe@2-2-2013
22280002@unknown@formal@none@1@S@Shortly after completing the $1.56 billion acquisition of West Point-Pepperell Inc. in April, Mr. Farley's holding company, Farley Inc., said it was considering the sale of Cluett, a leading shirt maker and one of West Point-Pepperell's biggest units.@@@@1@38@@oe@2-2-2013
22280003@unknown@formal@none@1@S@Included in the sale are Cluett units that make men's shirts under the Arrow name, socks under the Gold Toe name and menswear through the Schoeneman division.@@@@1@27@@oe@2-2-2013
22280004@unknown@formal@none@1@S@The companies said the agreement is subject to Bidermann's receipt of financing and to regulatory and other approvals.@@@@1@18@@oe@2-2-2013
22280005@unknown@formal@none@1@S@They said the sale is expected to be concluded by the end of November.@@@@1@14@@oe@2-2-2013
22280006@unknown@formal@none@1@S@Mr. Farley said the sale of three of Cluett's four main divisions plus other "anticipated" West Point-Pepperell asset sales by December, should bring in a total of about $700 million.@@@@1@30@@oe@2-2-2013
22280007@unknown@formal@none@1@S@He didn't elaborate on other asset sales being considered.@@@@1@9@@oe@2-2-2013
22280008@unknown@formal@none@1@S@Mr. Farley followed a similar pattern when he acquired Northwest Industries Inc. and then sold much of its assets.@@@@1@19@@oe@2-2-2013
22280009@unknown@formal@none@1@S@But he kept Fruit of the Loom Inc., the underwear maker that he still controls and serves as chairman and chief executive.@@@@1@22@@oe@2-2-2013
22280010@unknown@formal@none@1@S@Cluett was an independent company until West Point-Pepperell acquired it for $375 million in cash and stock in 1986.@@@@1@19@@oe@2-2-2013
22280011@unknown@formal@none@1@S@In the fiscal year ended Sept. 30, 1988, Cluett had operating profit of $37 million on sales of $757 million.@@@@1@20@@oe@2-2-2013
22280012@unknown@formal@none@1@S@Bidermann sells clothes under various labels, including Yves Saint Laurent and Bill Robinson for men and Ralph Lauren for women.@@@@1@20@@oe@2-2-2013
22280013@unknown@formal@none@1@S@A spokesman said the company had sales of $400 million in 1988.@@@@1@12@@oe@2-2-2013
22280014@unknown@formal@none@1@S@In New York Stock Exchange composite trading, West Point-Pepperell fell 25 cents to $53.875.@@@@1@14@@oe@2-2-2013
22281001@unknown@formal@none@1@S@Britain's Blue Arrow PLC intends to change its name to Manpower PLC and write off a chunk of the nearly $1.2 billion in good will realized in the takeover of U.S.-based Manpower Inc.@@@@1@33@@oe@2-2-2013
22281002@unknown@formal@none@1@S@Blue Arrow Chairman Mitchell Fromstein said in an interview that the two steps may be a prelude to reincorporating the world's biggest employment-services group in the U.S.@@@@1@27@@oe@2-2-2013
22281003@unknown@formal@none@1@S@Mr. Fromstein disclosed the planned steps, expected within a few months, as Blue Arrow posted a 2.5% drop in its third-quarter pretax earnings.@@@@1@23@@oe@2-2-2013
22281004@unknown@formal@none@1@S@The name change and good will write-off could help solidify Blue Arrow's dominance of the U.S. temporary-help market and give it a more American image as U.S. investors turn jittery about foreign stocks after Friday's market plunge.@@@@1@37@@oe@2-2-2013
22281005@unknown@formal@none@1@S@U.S. holders now own more than 60% of Blue Arrow compared with 9% last January.@@@@1@15@@oe@2-2-2013
22281006@unknown@formal@none@1@S@"In the U.S. market, the recognition of the Manpower name is infinitely stronger than Blue Arrow," Mr. Fromstein said.@@@@1@19@@oe@2-2-2013
22281007@unknown@formal@none@1@S@The moves also could erase shareholders' perception of Blue Arrow as a company in turmoil.@@@@1@15@@oe@2-2-2013
22281008@unknown@formal@none@1@S@"It further reinforces the concept that Blue Arrow is a thing of the past," said Doug Arthur, an analyst at Kidder Peabody & Co. in New York.@@@@1@27@@oe@2-2-2013
22281009@unknown@formal@none@1@S@The proposed changes "all make a lot of sense to me," he added.@@@@1@13@@oe@2-2-2013
22281010@unknown@formal@none@1@S@In a widely publicized boardroom coup, Mr. Fromstein ousted Antony Berry as Blue Arrow chief executive in January, a month after Mr. Berry had forced Mr. Fromstein out as the $1 million-a-year chief of Milwaukee-based Manpower.@@@@1@36@@oe@2-2-2013
22281011@unknown@formal@none@1@S@Mr. Fromstein solidified his control in April by taking over from Mr. Berry as chairman.@@@@1@15@@oe@2-2-2013
22281012@unknown@formal@none@1@S@But the Blue Arrow tumult isn't over yet, as the British government is investigating a disputed #25 million ($39.4 million) loan which Mr. Fromstein has said was made under Mr. Berry's direction.@@@@1@32@@oe@2-2-2013
22281013@unknown@formal@none@1@S@Blue Arrow was able to pull off the $1.34 billion takeover of Manpower in 1987 largely because different British and American accounting standards produce higher reported earnings for British companies.@@@@1@30@@oe@2-2-2013
22281014@unknown@formal@none@1@S@Under British rules, Blue Arrow was able to write off at once the $1.15 billion in good will arising from the purchase.@@@@1@22@@oe@2-2-2013
22281015@unknown@formal@none@1@S@As a U.S.-based company, Blue Arrow would have to amortize the good will over as many as 40 years, creating a continuing drag on reported earnings.@@@@1@26@@oe@2-2-2013
22281016@unknown@formal@none@1@S@Good will is the excess of cost of an acquired firm, operating unit or assets over the current or fair market value of those assets.@@@@1@25@@oe@2-2-2013
22281017@unknown@formal@none@1@S@But with so many shares now held in the U.S., Blue Arrow reports its earnings two ways, based on both U.K. and U.S. accounting standards.@@@@1@25@@oe@2-2-2013
22281018@unknown@formal@none@1@S@"Our balance sheets look like they came from Alice's wonderland," Mr. Fromstein said.@@@@1@13@@oe@2-2-2013
22281019@unknown@formal@none@1@S@The British version shows "a handful of pounds of net worth" following the 1987 write-off of good will, while the American version reflects "$1 billion of net worth because almost none of {the good will} has been written off."@@@@1@39@@oe@2-2-2013
22281020@unknown@formal@none@1@S@Mr. Fromstein said he hopes to eradicate some of the good will left on Blue Arrow's U.S. books in one fell swoop, but wouldn't specify how much.@@@@1@27@@oe@2-2-2013
22281021@unknown@formal@none@1@S@People close to Blue Arrow suggested the write-down would represent a sizable chunk, with executives claiming prior management overstated the extent of Manpower's good will.@@@@1@25@@oe@2-2-2013
22281022@unknown@formal@none@1@S@That move, along with the return to the Manpower name, could bolster the company's prospects during possibly difficult times for temporary help.@@@@1@22@@oe@2-2-2013
22281023@unknown@formal@none@1@S@The number of U.S. temporary workers fell about 1% in the 12 months ending Aug. 31, after sliding nearly 3.5% in July, said Kidder Peabody's Mr. Arthur.@@@@1@27@@oe@2-2-2013
22281024@unknown@formal@none@1@S@Blue Arrow blamed the pretax profit drop in the quarter ended July 31 partly on slower earnings growth of non-Manpower units in Britain.@@@@1@23@@oe@2-2-2013
22281025@unknown@formal@none@1@S@Overall, pretax profit slid to #18.49 million in the quarter from #18.98 million a year earlier.@@@@1@16@@oe@2-2-2013
22282001@unknown@formal@none@1@S@Richard G. Sim, the man credited with transforming Applied Power Inc. from an underachiever into a feisty player in the global market for hydraulic tools, hopes to guide a similar turnaround at the company's latest acquisition, Barry Wright Corp.@@@@1@39@@oe@2-2-2013
22282002@unknown@formal@none@1@S@The 45-year-old former General Electric Co. executive figures it will be easier this time.@@@@1@14@@oe@2-2-2013
22282003@unknown@formal@none@1@S@But analysts, while applauding the acquisition, say Applied's chief executive faces a tough challenge in integrating the two companies.@@@@1@19@@oe@2-2-2013
22282004@unknown@formal@none@1@S@Barry Wright, acquired by Applied for $147 million, makes computer-room equipment and vibration-control systems.@@@@1@14@@oe@2-2-2013
22282005@unknown@formal@none@1@S@The Watertown, Mass., company's sales have been dormant and its profits have dropped.@@@@1@13@@oe@2-2-2013
22282006@unknown@formal@none@1@S@Last year's earnings of $1.3 million, including $815,000 from a restructuring gain, were far below the year-earlier $8.4 million.@@@@1@19@@oe@2-2-2013
22282007@unknown@formal@none@1@S@Besides spurring Barry Wright's sales, which were $201.7 million in 1988, Mr. Sim must pare its costs and product line.@@@@1@20@@oe@2-2-2013
22282008@unknown@formal@none@1@S@"The question is how long it's going to take Barry Wright to make a contribution," says F. John Mirek, an analyst at Blunt Ellis Loewi in Milwaukee.@@@@1@27@@oe@2-2-2013
22282009@unknown@formal@none@1@S@The answer will help determine whether Applied continues to reach the ambitious goals set by Mr. Sim.@@@@1@17@@oe@2-2-2013
22282010@unknown@formal@none@1@S@The Butler, Wis., manufacturer went public at $15.75 a share in August 1987, and Mr. Sim's goal then was a $29 per-share price by 1992.@@@@1@25@@oe@2-2-2013
22282011@unknown@formal@none@1@S@Strong earnings growth helped achieve that price far ahead of schedule, in August 1988.@@@@1@14@@oe@2-2-2013
22282012@unknown@formal@none@1@S@The stock has since softened, trading around $25 a share last week and closing yesterday at $23.00 in national over-the-counter trading.@@@@1@21@@oe@2-2-2013
22282013@unknown@formal@none@1@S@But Mr. Sim has set a fresh target of $50 a share by the end of@@@@1@16@@oe@2-2-2013
22282014@unknown@formal@none@1@S@Reaching that goal, says Robert T. Foote, Applied's chief financial officer, will require "efficient reinvestment" of cash by Applied and continuation of its healthy 19% rate of return on operating capital.@@@@1@31@@oe@2-2-2013
22282015@unknown@formal@none@1@S@In Barry Wright, Mr. Sim sees a situation "very similar" to the one he faced when he joined Applied as president and chief operating officer in 1985.@@@@1@27@@oe@2-2-2013
22282016@unknown@formal@none@1@S@Applied, then a closely held company, was stagnating under the management of its controlling family.@@@@1@15@@oe@2-2-2013
22282017@unknown@formal@none@1@S@While profitable, it "wasn't growing and wasn't providing a satisfactory return on invested capital," he says.@@@@1@16@@oe@2-2-2013
22282018@unknown@formal@none@1@S@Mr. Sim is confident that the drive to dominate certain niche markets will work at Barry Wright as it has at Applied.@@@@1@22@@oe@2-2-2013
22282019@unknown@formal@none@1@S@He also professes an "evangelical" fervor to develop a corporate culture that rewards managers who produce and where decision-making is shared.@@@@1@21@@oe@2-2-2013
22282020@unknown@formal@none@1@S@Mr. Sim considers the new unit's operations "fundamentally sound" and adds that Barry Wright has been fairly successful in moving into markets that haven't interested larger competitors.@@@@1@27@@oe@2-2-2013
22282021@unknown@formal@none@1@S@"With a little patience, these businesses will perform very satisfactorily," Mr. Sim says.@@@@1@13@@oe@2-2-2013
22282022@unknown@formal@none@1@S@Within about six months, "things will be moving in the right direction," he predicts.@@@@1@14@@oe@2-2-2013
22282023@unknown@formal@none@1@S@Mr. Sim figures it will be easier to turn Barry Wright around since he's now in the driver's seat.@@@@1@19@@oe@2-2-2013
22282024@unknown@formal@none@1@S@When he came to Applied, "I didn't have the power to execute as I do today," he says.@@@@1@18@@oe@2-2-2013
22282025@unknown@formal@none@1@S@He was named chief executive officer of Applied in 1986 and became chairman last November.@@@@1@15@@oe@2-2-2013
22282026@unknown@formal@none@1@S@At Applied, Mr. Sim set growth as his first objective.@@@@1@10@@oe@2-2-2013
22282027@unknown@formal@none@1@S@He took the company public in an offering that netted Applied about $12.6 million, which helped launch the company's acquisition program.@@@@1@21@@oe@2-2-2013
22282028@unknown@formal@none@1@S@Sales climbed to an estimated $245 million in fiscal 1989, ended Aug. 31, from $99.9 million in fiscal 1985.@@@@1@19@@oe@2-2-2013
22282029@unknown@formal@none@1@S@The company expects that earnings, which have marched steadily upward in recent years, reached about $20.8 million, or $1.58 a share, in the fiscal year just ended, up from $15.2 million in fiscal 1988 and $3.9 million in 1985.@@@@1@39@@oe@2-2-2013
22300001@unknown@formal@none@1@S@No, it wasn't Black Monday.@@@@1@5@@oe@2-2-2013
22300002@unknown@formal@none@1@S@But while the New York Stock Exchange didn't fall apart Friday as the Dow Jones Industrial Average plunged 190.58 points -- most of it in the final hour -- it barely managed to stay this side of chaos.@@@@1@38@@oe@2-2-2013
22300003@unknown@formal@none@1@S@Some "circuit breakers" installed after the October 1987 crash failed their first test, traders say, unable to cool the selling panic in both stocks and futures.@@@@1@26@@oe@2-2-2013
22300004@unknown@formal@none@1@S@The 49 stock specialist firms on the Big Board floor -- the buyers and sellers of last resort who were criticized after the 1987 crash -- once again couldn't handle the selling pressure.@@@@1@33@@oe@2-2-2013
22300005@unknown@formal@none@1@S@Big investment banks refused to step up to the plate to support the beleaguered floor traders by buying big blocks of stock, traders say.@@@@1@24@@oe@2-2-2013
22300006@unknown@formal@none@1@S@Heavy selling of Standard & Poor's 500-stock index futures in Chicago relentlessly beat stocks downward.@@@@1@15@@oe@2-2-2013
22300007@unknown@formal@none@1@S@Seven Big Board stocks -- UAL, AMR, BankAmerica, Walt Disney, Capital Cities/ABC, Philip Morris and Pacific Telesis Group -- stopped trading and never resumed.@@@@1@24@@oe@2-2-2013
22300008@unknown@formal@none@1@S@The finger-pointing has already begun.@@@@1@5@@oe@2-2-2013
22300009@unknown@formal@none@1@S@"The equity market was illiquid.@@@@1@5@@oe@2-2-2013
22300010@unknown@formal@none@1@S@Once again {the specialists} were not able to handle the imbalances on the floor of the New York Stock Exchange," said Christopher Pedersen, senior vice president at Twenty-First Securities Corp.@@@@1@30@@oe@2-2-2013
22300011@unknown@formal@none@1@S@Countered James Maguire, chairman of specialists Henderson Brothers Inc.: "It is easy to say the specialist isn't doing his job.@@@@1@20@@oe@2-2-2013
22300012@unknown@formal@none@1@S@When the dollar is in a free-fall, even central banks can't stop it.@@@@1@13@@oe@2-2-2013
22300013@unknown@formal@none@1@S@Speculators are calling for a degree of liquidity that is not there in the market."@@@@1@15@@oe@2-2-2013
22300014@unknown@formal@none@1@S@Many money managers and some traders had already left their offices early Friday afternoon on a warm autumn day -- because the stock market was so quiet.@@@@1@27@@oe@2-2-2013
22300015@unknown@formal@none@1@S@Then in a lightning plunge, the Dow Jones industrials in barely an hour surrendered about a third of their gains this year, chalking up a 190.58-point, or 6.9%, loss on the day in gargantuan trading volume.@@@@1@36@@oe@2-2-2013
22300016@unknown@formal@none@1@S@Final-hour trading accelerated to 108.1 million shares, a record for the Big Board.@@@@1@13@@oe@2-2-2013
22300017@unknown@formal@none@1@S@At the end of the day, 251.2 million shares were traded.@@@@1@11@@oe@2-2-2013
22300018@unknown@formal@none@1@S@The Dow Jones industrials closed at 2569.26.@@@@1@7@@oe@2-2-2013
22300019@unknown@formal@none@1@S@The Dow's decline was second in point terms only to the 508-point Black Monday crash that occurred Oct. 19, 1987.@@@@1@20@@oe@2-2-2013
22300020@unknown@formal@none@1@S@In percentage terms, however, the Dow's dive was the 12th-worst ever and the sharpest since the market fell 156.83, or 8%, a week after Black Monday.@@@@1@26@@oe@2-2-2013
22300021@unknown@formal@none@1@S@The Dow fell 22.6% on Black Monday.@@@@1@7@@oe@2-2-2013
22300022@unknown@formal@none@1@S@Shares of UAL, the parent of United Airlines, were extremely active all day Friday, reacting to news and rumors about the proposed $6.79 billion buy-out of the airline by an employee-management group.@@@@1@32@@oe@2-2-2013
22300023@unknown@formal@none@1@S@Wall Street's takeover-stock speculators, or "risk arbitragers," had placed unusually large bets that a takeover would succeed and UAL stock would rise.@@@@1@22@@oe@2-2-2013
22300024@unknown@formal@none@1@S@At 2:43 p.m. EDT, came the sickening news: The Big Board was halting trading in UAL, "pending news."@@@@1@18@@oe@2-2-2013
22300025@unknown@formal@none@1@S@On the exchange floor, "as soon as UAL stopped trading, we braced for a panic," said one top floor trader.@@@@1@20@@oe@2-2-2013
22300026@unknown@formal@none@1@S@Several traders could be seen shaking their heads when the news flashed.@@@@1@12@@oe@2-2-2013
22300027@unknown@formal@none@1@S@For weeks, the market had been nervous about takeovers, after Campeau Corp.'s cash crunch spurred concern about the prospects for future highly leveraged takeovers.@@@@1@24@@oe@2-2-2013
22300028@unknown@formal@none@1@S@And 10 minutes after the UAL trading halt came news that the UAL group couldn't get financing for its bid.@@@@1@20@@oe@2-2-2013
22300029@unknown@formal@none@1@S@At this point, the Dow was down about 35 points.@@@@1@10@@oe@2-2-2013
22300030@unknown@formal@none@1@S@The market crumbled.@@@@1@3@@oe@2-2-2013
22300031@unknown@formal@none@1@S@Arbitragers couldn't dump their UAL stock -- but they rid themselves of nearly every "rumor" stock they had.@@@@1@18@@oe@2-2-2013
22300032@unknown@formal@none@1@S@For example, their selling caused trading halts to be declared in USAir Group, which closed down 3 7/8 to 41 1/2, Delta Air Lines, which fell 7 3/4 to 69 1/4, and Philips Industries, which sank 3 to 21 1/2.@@@@1@40@@oe@2-2-2013
22300033@unknown@formal@none@1@S@These stocks eventually reopened.@@@@1@4@@oe@2-2-2013
22300034@unknown@formal@none@1@S@But as panic spread, speculators began to sell blue-chip stocks such as Philip Morris and International Business Machines to offset their losses.@@@@1@22@@oe@2-2-2013
22300035@unknown@formal@none@1@S@When trading was halted in Philip Morris, the stock was trading at 41, down 3 3/8, while IBM closed 5 5/8 lower at 102.@@@@1@24@@oe@2-2-2013
22300036@unknown@formal@none@1@S@Selling snowballed because of waves of automatic "stop-loss" orders, which are triggered by computer when prices fall to certain levels.@@@@1@20@@oe@2-2-2013
22300037@unknown@formal@none@1@S@Most of the stock selling pressure came from Wall Street professionals, including computer-guided program traders.@@@@1@15@@oe@2-2-2013
22300038@unknown@formal@none@1@S@Traders said most of their major institutional investors, on the other hand, sat tight.@@@@1@14@@oe@2-2-2013
22300039@unknown@formal@none@1@S@Now, at 3:07, one of the market's post-crash "reforms" took hold as the S&P 500 futures contract had plunged 12 points, equivalent to around a 100-point drop in the Dow industrials.@@@@1@31@@oe@2-2-2013
22300040@unknown@formal@none@1@S@Under an agreement signed by the Big Board and the Chicago Mercantile Exchange, trading was temporarily halted in Chicago.@@@@1@19@@oe@2-2-2013
22300041@unknown@formal@none@1@S@After the trading halt in the S&P 500 pit in Chicago, waves of selling continued to hit stocks themselves on the Big Board, and specialists continued to notch prices down.@@@@1@30@@oe@2-2-2013
22300042@unknown@formal@none@1@S@As a result, the link between the futures and stock markets ripped apart.@@@@1@13@@oe@2-2-2013
22300043@unknown@formal@none@1@S@Without the guidepost of stock-index futures -- the barometer of where traders think the overall stock market is headed -- many traders were afraid to trust stock prices quoted on the Big Board.@@@@1@33@@oe@2-2-2013
22300044@unknown@formal@none@1@S@The futures halt was even assailed by Big Board floor traders.@@@@1@11@@oe@2-2-2013
22300045@unknown@formal@none@1@S@"It screwed things up," said one major specialist.@@@@1@8@@oe@2-2-2013
22300046@unknown@formal@none@1@S@This confusion effectively halted one form of program trading, stock index arbitrage, that closely links the futures and stock markets, and has been blamed by some for the market's big swings.@@@@1@31@@oe@2-2-2013
22300047@unknown@formal@none@1@S@(In a stock-index arbitrage sell program, traders buy or sell big baskets of stocks and offset the trade in futures to lock in a price difference.)@@@@1@26@@oe@2-2-2013
22300048@unknown@formal@none@1@S@"When the airline information came through, it cracked every model we had for the marketplace," said a managing director at one of the largest program-trading firms.@@@@1@26@@oe@2-2-2013
22300049@unknown@formal@none@1@S@"We didn't even get a chance to do the programs we wanted to do."@@@@1@14@@oe@2-2-2013
22300050@unknown@formal@none@1@S@But stocks kept falling.@@@@1@4@@oe@2-2-2013
22300051@unknown@formal@none@1@S@The Dow industrials were down 55 points at 3 p.m. before the futures-trading halt.@@@@1@14@@oe@2-2-2013
22300052@unknown@formal@none@1@S@At 3:30 p.m., at the end of the "cooling off" period, the average was down 114.76 points.@@@@1@17@@oe@2-2-2013
22300053@unknown@formal@none@1@S@Meanwhile, during the the S&P trading halt, S&P futures sell orders began piling up, while stocks in New York kept falling sharply.@@@@1@22@@oe@2-2-2013
22300054@unknown@formal@none@1@S@Big Board Chairman John J. Phelan said yesterday the circuit breaker "worked well mechanically.@@@@1@14@@oe@2-2-2013
22300055@unknown@formal@none@1@S@I just think it's nonproductive at this point to get into a debate if index arbitrage would have helped or hurt things."@@@@1@22@@oe@2-2-2013
22300056@unknown@formal@none@1@S@Under another post-crash system, Big Board President Richard Grasso (Mr. Phelan was flying to Bangkok as the market was falling) was talking on an "inter-exchange hot line" to the other exchanges, the Securities and Exchange Commission and the Federal Reserve Board.@@@@1@41@@oe@2-2-2013
22300057@unknown@formal@none@1@S@He camped out at a high-tech nerve center on the floor of the Big Board, where he could watch updates on prices and pending stock orders.@@@@1@26@@oe@2-2-2013
22300058@unknown@formal@none@1@S@At about 3:30 p.m. EDT, S&P futures resumed trading, and for a brief time the futures and stock markets started to come back in line.@@@@1@25@@oe@2-2-2013
22300059@unknown@formal@none@1@S@Buyers stepped in to the futures pit.@@@@1@7@@oe@2-2-2013
22300060@unknown@formal@none@1@S@But the build-up of S&P futures sell orders weighed on the market, and the link with stocks began to fray again.@@@@1@21@@oe@2-2-2013
22300061@unknown@formal@none@1@S@At about 3:45, the S&P market careened to still another limit, of 30 points down, and trading was locked again.@@@@1@20@@oe@2-2-2013
22300062@unknown@formal@none@1@S@Futures traders say the S&P was signaling that the Dow could fall as much as 200 points.@@@@1@17@@oe@2-2-2013
22300063@unknown@formal@none@1@S@During this time, small investors began ringing their brokers, wondering whether another crash had begun.@@@@1@15@@oe@2-2-2013
22300064@unknown@formal@none@1@S@At Prudential-Bache Securities Inc., which is trying to cater to small investors, some demoralized brokers thought this would be the final confidence-crusher.@@@@1@22@@oe@2-2-2013
22300065@unknown@formal@none@1@S@That's when George L. Ball, chairman of the Prudential Insurance Co. of America unit, took to the internal intercom system to declare that the plunge was only "mechanical."@@@@1@28@@oe@2-2-2013
22300066@unknown@formal@none@1@S@"I have a hunch that this particular decline today is something `more ado about less.'@@@@1@15@@oe@2-2-2013
22300067@unknown@formal@none@1@S@It would be my inclination to advise clients not to sell, to look for an opportunity to buy," Mr. Ball told the brokers.@@@@1@23@@oe@2-2-2013
22300068@unknown@formal@none@1@S@At Merrill Lynch & Co., the nation's biggest brokerage firm, a news release was prepared headlined "Merrill Lynch Comments on Market Drop."@@@@1@22@@oe@2-2-2013
22300069@unknown@formal@none@1@S@The release cautioned that "there are significant differences between the current environment and that of October 1987" and that there are still "attractive investment opportunities" in the stock market.@@@@1@29@@oe@2-2-2013
22300070@unknown@formal@none@1@S@However, Jeffrey B. Lane, president of Shearson Lehman Hutton Inc., said that Friday's plunge is "going to set back" relations with customers, "because it reinforces the concern of volatility.@@@@1@29@@oe@2-2-2013
22300071@unknown@formal@none@1@S@And I think a lot of people will harp on program trading.@@@@1@12@@oe@2-2-2013
22300072@unknown@formal@none@1@S@It's going to bring the debate right back to the forefront."@@@@1@11@@oe@2-2-2013
22300073@unknown@formal@none@1@S@As the Dow average ground to its final 190.58 loss Friday, the S&P pit stayed locked at its 30-point trading limit.@@@@1@21@@oe@2-2-2013
22300074@unknown@formal@none@1@S@Jeffrey Yass of program trader Susquehanna Investment Group said 2,000 S&P contracts were for sale on the close, the equivalent of $330 million in stock.@@@@1@25@@oe@2-2-2013
22300075@unknown@formal@none@1@S@But there were no buyers.@@@@1@5@@oe@2-2-2013
22300076@unknown@formal@none@1@S@While Friday's debacle involved mainly professional traders rather than investors, it left the market vulnerable to continued selling this morning, traders said.@@@@1@22@@oe@2-2-2013
22300077@unknown@formal@none@1@S@Stock-index futures contracts settled at much lower prices than indexes of the stock market itself.@@@@1@15@@oe@2-2-2013
22300078@unknown@formal@none@1@S@At those levels, stocks are set up to be hammered by index arbitragers, who lock in profits by buying futures when futures prices fall, and simultaneously sell off stocks.@@@@1@29@@oe@2-2-2013
22300079@unknown@formal@none@1@S@But nobody knows at what level the futures and stocks will open today.@@@@1@13@@oe@2-2-2013
22300080@unknown@formal@none@1@S@The de-linkage between the stock and futures markets Friday will undoubtedly cause renewed debate about whether Wall Street is properly prepared for another crash situation.@@@@1@25@@oe@2-2-2013
22300081@unknown@formal@none@1@S@The Big Board's Mr. Grasso said, "Our systemic performance was good."@@@@1@11@@oe@2-2-2013
22300082@unknown@formal@none@1@S@But the exchange will "look at the performance of all specialists in all stocks.@@@@1@14@@oe@2-2-2013
22300083@unknown@formal@none@1@S@Obviously we'll take a close look at any situation in which we think the dealer-community obligations weren't met," he said.@@@@1@20@@oe@2-2-2013
22300084@unknown@formal@none@1@S@(See related story: "Fed Ready to Inject Big Funds" -- WSJ Oct. 16, 1989)@@@@1@14@@oe@2-2-2013
22300085@unknown@formal@none@1@S@But specialists complain privately that just as in the 1987 crash, the "upstairs" firms -- big investment banks that support the market by trading big blocks of stock -- stayed on the sidelines during Friday's blood-letting.@@@@1@36@@oe@2-2-2013
22300086@unknown@formal@none@1@S@Mr. Phelan said, "It will take another day or two" to analyze who was buying and selling Friday.@@@@1@18@@oe@2-2-2013
22301001@unknown@formal@none@1@S@Concerning your Sept. 21 page-one article on Prince Charles and the leeches: It's a few hundred years since England has been a kingdom.@@@@1@23@@oe@2-2-2013
22301002@unknown@formal@none@1@S@It's now the United Kingdom of Great Britain and Northern Ireland, comprising Wales, Northern Ireland, Scotland, and . . . oh yes, England, too.@@@@1@24@@oe@2-2-2013
22301003@unknown@formal@none@1@S@Just thought you'd like to know.@@@@1@6@@oe@2-2-2013
22301004@unknown@formal@none@1@S@George Morton@@@@1@2@@oe@2-2-2013
22302001@unknown@formal@none@1@S@Ports of Call Inc. reached agreements to sell its remaining seven aircraft to buyers that weren't disclosed.@@@@1@17@@oe@2-2-2013
22302002@unknown@formal@none@1@S@The agreements bring to a total of nine the number of planes the travel company has sold this year as part of a restructuring.@@@@1@24@@oe@2-2-2013
22302003@unknown@formal@none@1@S@The company said a portion of the $32 million realized from the sales will be used to repay its bank debt and other obligations resulting from the currently suspended air-charter operations.@@@@1@31@@oe@2-2-2013
22302004@unknown@formal@none@1@S@Earlier the company announced it would sell its aging fleet of Boeing Co. 707s because of increasing maintenance costs.@@@@1@19@@oe@2-2-2013
22303001@unknown@formal@none@1@S@A consortium of private investors operating as LJH Funding Co. said it has made a $409 million cash bid for most of L.J. Hooker Corp.'s real-estate and shopping-center holdings.@@@@1@29@@oe@2-2-2013
22303002@unknown@formal@none@1@S@The $409 million bid includes the assumption of an estimated $300 million in secured liabilities on those properties, according to those making the bid.@@@@1@24@@oe@2-2-2013
22303003@unknown@formal@none@1@S@The group is led by Jay Shidler, chief executive officer of Shidler Investment Corp. in Honolulu, and A. Boyd Simpson, chief executive of the Atlanta-based Simpson Organization Inc.@@@@1@28@@oe@2-2-2013
22303004@unknown@formal@none@1@S@Mr. Shidler's company specializes in commercial real-estate investment and claims to have $1 billion in assets; Mr. Simpson is a developer and a former senior executive of L.J. Hooker.@@@@1@29@@oe@2-2-2013
22303005@unknown@formal@none@1@S@"The assets are good, but they require more money and management" than can be provided in L.J. Hooker's current situation, said Mr. Simpson in an interview. "@@@@1@27@@oe@2-2-2013
22303006@unknown@formal@none@1@S@Hooker's philosophy was to build and sell.@@@@1@7@@oe@2-2-2013
22303007@unknown@formal@none@1@S@We want to build and hold."@@@@1@6@@oe@2-2-2013
22303008@unknown@formal@none@1@S@L.J. Hooker, based in Atlanta, is operating with protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code.@@@@1@20@@oe@2-2-2013
22303009@unknown@formal@none@1@S@Its parent company, Hooker Corp. of Sydney, Australia, is currently being managed by a court-appointed provisional liquidator.@@@@1@17@@oe@2-2-2013
22303010@unknown@formal@none@1@S@Sanford Sigoloff, chief executive of L.J. Hooker, said yesterday in a statement that he has not yet seen the bid but that he would review it and bring it to the attention of the creditors committee.@@@@1@36@@oe@2-2-2013
22303011@unknown@formal@none@1@S@The $409 million bid is estimated by Mr. Simpson as representing 75% of the value of all Hooker real-estate holdings in the U.S.@@@@1@23@@oe@2-2-2013
22303012@unknown@formal@none@1@S@Not included in the bid are Bonwit Teller or B. Altman & Co., L.J. Hooker's department-store chains.@@@@1@17@@oe@2-2-2013
22303013@unknown@formal@none@1@S@The offer covers the massive 1.8 million-square-foot Forest Fair Mall in Cincinnati, the 800,000 square-foot Richland Fashion Mall in Columbia, S.C., and the 700,000 square-foot Thornton Town Center mall in Thornton, Colo.@@@@1@32@@oe@2-2-2013
22303014@unknown@formal@none@1@S@The Thornton mall opened Sept. 19 with a Bigg's hypermarket as its anchor; the Columbia mall is expected to open Nov. 15.@@@@1@22@@oe@2-2-2013
22303015@unknown@formal@none@1@S@Other Hooker properties included are a 20-story office tower in midtown Atlanta, expected to be completed next February; vacant land sites in Florida and Ohio; L.J. Hooker International, the commercial real-estate brokerage company that once did business as Merrill Lynch Commercial Real Estate, plus other shopping centers.@@@@1@47@@oe@2-2-2013
22303016@unknown@formal@none@1@S@The consortium was put together by Hoare Govett, the London-based investment banking company that is a subsidiary of Security Pacific Corp.@@@@1@21@@oe@2-2-2013
22303017@unknown@formal@none@1@S@"We don't anticipate any problems in raising the funding for the bid," said Allan Campbell, the head of mergers and acquisitions at Hoare Govett, in an interview.@@@@1@27@@oe@2-2-2013
22303018@unknown@formal@none@1@S@Hoare Govett is acting as the consortium's investment bankers.@@@@1@9@@oe@2-2-2013
22303019@unknown@formal@none@1@S@According to people familiar with the consortium, the bid was code-named Project Klute, a reference to the film "Klute" in which a prostitute played by actress Jane Fonda is saved from a psychotic businessman by a police officer named John Klute.@@@@1@41@@oe@2-2-2013
22303020@unknown@formal@none@1@S@L.J. Hooker was a small home-building company based in Atlanta in 1979 when Mr. Simpson was hired to push it into commercial development.@@@@1@23@@oe@2-2-2013
22303021@unknown@formal@none@1@S@The company grew modestly until 1986, when a majority position in Hooker Corp. was acquired by Australian developer George Herscu, currently Hooker's chairman.@@@@1@23@@oe@2-2-2013
22303022@unknown@formal@none@1@S@Mr. Herscu proceeded to launch an ambitious, but ill-fated, $1 billion acquisition binge that included Bonwit Teller and B. Altman & Co., as well as majority positions in Merksamer Jewelers, a Sacramento chain; Sakowitz Inc., the Houston-based retailer, and Parisian Inc., the Southeast department-store chain.@@@@1@45@@oe@2-2-2013
22303023@unknown@formal@none@1@S@Eventually Mr. Simpson and Mr. Herscu had a falling out over the direction of the company, and Mr. Simpson said he resigned in 1988.@@@@1@24@@oe@2-2-2013
22303024@unknown@formal@none@1@S@Since then, Hooker Corp. has sold its interest in the Parisian chain back to Parisian's management and is currently attempting to sell the B. Altman & Co. chain.@@@@1@28@@oe@2-2-2013
22303025@unknown@formal@none@1@S@In addition, Robert Sakowitz, chief executive of the Sakowitz chain, is seeking funds to buy out the Hooker interest in his company.@@@@1@22@@oe@2-2-2013
22303026@unknown@formal@none@1@S@The Merksamer chain is currently being offered for sale by First Boston Corp.@@@@1@13@@oe@2-2-2013
22303027@unknown@formal@none@1@S@Reached in Honolulu, Mr. Shidler said that he believes the various Hooker malls can become profitable with new management.@@@@1@19@@oe@2-2-2013
22303028@unknown@formal@none@1@S@"These aren't mature assets, but they have the potential to be so," said Mr. Shidler.@@@@1@15@@oe@2-2-2013
22303029@unknown@formal@none@1@S@"Managed properly, and with a long-term outlook, these can become investment-grade quality properties.@@@@1@13@@oe@2-2-2013
22304001@unknown@formal@none@1@S@Canadian steel-ingot production totaled 291,890 metric tons in the week ended Oct. 7, up 14.8% from the preceding week's total of 254,280 tons, Statistics Canada, a federal agency, said.@@@@1@29@@oe@2-2-2013
22304002@unknown@formal@none@1@S@The week's total was up 6.2% from 274,963 tons a year earlier.@@@@1@12@@oe@2-2-2013
22304003@unknown@formal@none@1@S@The year-to-date total was 12,006,883 tons, up 7.8% from 11,141,711 tons a year earlier.@@@@1@14@@oe@2-2-2013
22305001@unknown@formal@none@1@S@The Treasury plans to raise $175 million in new cash Thursday by selling about $9.75 billion of 52-week bills and redeeming $9.58 billion of maturing bills.@@@@1@26@@oe@2-2-2013
22305002@unknown@formal@none@1@S@The bills will be dated Oct. 26 and will mature Oct. 25, 1990.@@@@1@13@@oe@2-2-2013
22305003@unknown@formal@none@1@S@They will be available in minimum denominations of $10,000.@@@@1@9@@oe@2-2-2013
22305004@unknown@formal@none@1@S@Bids must be received by 1 p.m. EDT Thursday at the Treasury or at Federal Reserve banks or branches.@@@@1@19@@oe@2-2-2013
22306001@unknown@formal@none@1@S@As small investors peppered their mutual funds with phone calls over the weekend, big fund managers said they have a strong defense against any wave of withdrawals: cash.@@@@1@28@@oe@2-2-2013
22306002@unknown@formal@none@1@S@Unlike the weekend before Black Monday, the funds weren't swamped with heavy withdrawal requests.@@@@1@14@@oe@2-2-2013
22306003@unknown@formal@none@1@S@And many fund managers have built up cash levels and say they will be buying stock this week.@@@@1@18@@oe@2-2-2013
22306004@unknown@formal@none@1@S@At Fidelity Investments, the nation's largest fund company, telephone volume was up sharply, but it was still at just half the level of the weekend preceding Black Monday in 1987.@@@@1@30@@oe@2-2-2013
22306005@unknown@formal@none@1@S@The Boston firm said stock-fund redemptions were running at less than one-third the level two years ago.@@@@1@17@@oe@2-2-2013
22306006@unknown@formal@none@1@S@As of yesterday afternoon, the redemptions represented less than 15% of the total cash position of about $2 billion of Fidelity's stock funds.@@@@1@23@@oe@2-2-2013
22306007@unknown@formal@none@1@S@"Two years ago there were massive redemption levels over the weekend and a lot of fear around," said C. Bruce Johnstone, who runs Fidelity Investments' $5 billion Equity-Income Fund.@@@@1@29@@oe@2-2-2013
22306008@unknown@formal@none@1@S@"This feels more like a one-shot deal.@@@@1@7@@oe@2-2-2013
22306009@unknown@formal@none@1@S@People aren't panicking."@@@@1@3@@oe@2-2-2013
22306010@unknown@formal@none@1@S@The test may come today.@@@@1@5@@oe@2-2-2013
22306011@unknown@formal@none@1@S@Friday's stock market sell-off came too late for many investors to act.@@@@1@12@@oe@2-2-2013
22306012@unknown@formal@none@1@S@Some shareholders have held off until today because any fund exchanges made after Friday's close would take place at today's closing prices.@@@@1@22@@oe@2-2-2013
22306013@unknown@formal@none@1@S@Stock fund redemptions during the 1987 debacle didn't begin to snowball until after the market opened on Black Monday.@@@@1@19@@oe@2-2-2013
22306014@unknown@formal@none@1@S@But fund managers say they're ready.@@@@1@6@@oe@2-2-2013
22306015@unknown@formal@none@1@S@Many have raised cash levels, which act as a buffer against steep market declines.@@@@1@14@@oe@2-2-2013
22306016@unknown@formal@none@1@S@Mario Gabelli, for instance, holds cash positions well above 20% in several of his funds.@@@@1@15@@oe@2-2-2013
22306017@unknown@formal@none@1@S@Windsor Fund's John Neff and Mutual Series' Michael Price said they had raised their cash levels to more than 20% and 30%, respectively, this year.@@@@1@25@@oe@2-2-2013
22306018@unknown@formal@none@1@S@Even Peter Lynch, manager of Fidelity's $12.7 billion Magellan Fund, the nation's largest stock fund, built up cash to 7% or $850 million.@@@@1@23@@oe@2-2-2013
22306019@unknown@formal@none@1@S@One reason is that after two years of monthly net redemptions, the fund posted net inflows of money from investors in August and September.@@@@1@24@@oe@2-2-2013
22306020@unknown@formal@none@1@S@"I've let the money build up," Mr. Lynch said, who added that he has had trouble finding stocks he likes.@@@@1@20@@oe@2-2-2013
22306021@unknown@formal@none@1@S@Not all funds have raised cash levels, of course.@@@@1@9@@oe@2-2-2013
22306022@unknown@formal@none@1@S@As a group, stock funds held 10.2% of assets in cash as of August, the latest figures available from the Investment Company Institute.@@@@1@23@@oe@2-2-2013
22306023@unknown@formal@none@1@S@That was modestly higher than the 8.8% and 9.2% levels in August and September of 1987.@@@@1@16@@oe@2-2-2013
22306024@unknown@formal@none@1@S@Also, persistent redemptions would force some fund managers to dump stocks to raise cash.@@@@1@14@@oe@2-2-2013
22306025@unknown@formal@none@1@S@But a strong level of investor withdrawals is much more unlikely this time around, fund managers said.@@@@1@17@@oe@2-2-2013
22306026@unknown@formal@none@1@S@A major reason is that investors already have sharply scaled back their purchases of stock funds since Black Monday.@@@@1@19@@oe@2-2-2013
22306027@unknown@formal@none@1@S@Stock-fund sales have rebounded in recent months, but monthly net purchases are still running at less than half 1987 levels.@@@@1@20@@oe@2-2-2013
22306028@unknown@formal@none@1@S@"There's not nearly as much froth," said John Bogle, chairman of Vanguard Group Inc., a big Valley Forge, Pa., fund company.@@@@1@21@@oe@2-2-2013
22306029@unknown@formal@none@1@S@Many fund managers argue that now's the time to buy.@@@@1@10@@oe@2-2-2013
22306030@unknown@formal@none@1@S@Vincent Bajakian, manager of the $1.8 billion Wellington Fund, added to his positions in Bristol-Myers Squibb, Woolworth and Dun & Bradstreet Friday.@@@@1@22@@oe@2-2-2013
22306031@unknown@formal@none@1@S@And today he'll be looking to buy drug stocks like Eli Lilly, Pfizer and American Home Products whose dividend yields have been bolstered by stock declines.@@@@1@26@@oe@2-2-2013
22306032@unknown@formal@none@1@S@Fidelity's Mr. Lynch, for his part, snapped up Southern Co. shares Friday after the stock got hammered.@@@@1@17@@oe@2-2-2013
22306033@unknown@formal@none@1@S@If the market drops further today, he said he'll be buying blue chips such as Bristol-Myers and Kellogg.@@@@1@18@@oe@2-2-2013
22306034@unknown@formal@none@1@S@"If they croak stocks like that," he said, it presents an opportunity that is "the kind of thing you dream about."@@@@1@21@@oe@2-2-2013
22306035@unknown@formal@none@1@S@Major mutual-fund groups said phone calls were arriving at twice the normal weekend pace yesterday.@@@@1@15@@oe@2-2-2013
22306036@unknown@formal@none@1@S@But most investors were seeking share prices and other information.@@@@1@10@@oe@2-2-2013
22306037@unknown@formal@none@1@S@Trading volume was only modestly higher than normal.@@@@1@8@@oe@2-2-2013
22306038@unknown@formal@none@1@S@Still, fund groups aren't taking any chances.@@@@1@7@@oe@2-2-2013
22306039@unknown@formal@none@1@S@They hope to avoid the jammed phone lines and other snags that infuriated some fund investors in October 1987.@@@@1@19@@oe@2-2-2013
22306040@unknown@formal@none@1@S@Fidelity on Saturday opened its 54 walk-in investor centers across the country.@@@@1@12@@oe@2-2-2013
22306041@unknown@formal@none@1@S@The centers normally are closed through the weekend.@@@@1@8@@oe@2-2-2013
22306042@unknown@formal@none@1@S@In addition, East Coast centers will open at 7:30 EDT this morning, instead of the normal 8:30.@@@@1@17@@oe@2-2-2013
22306043@unknown@formal@none@1@S@T. Rowe Price Associates Inc. increased its staff of phone representatives to handle investor requests.@@@@1@15@@oe@2-2-2013
22306044@unknown@formal@none@1@S@The Baltimore-based group noted that some investors moved money from stock funds to money-market funds.@@@@1@15@@oe@2-2-2013
22306045@unknown@formal@none@1@S@But most investors seemed to be "in an information mode rather than in a transaction mode," said Steven Norwitz, a vice president.@@@@1@22@@oe@2-2-2013
22306046@unknown@formal@none@1@S@And Vanguard, among other groups, said it was adding more phone representatives today to help investors get through.@@@@1@18@@oe@2-2-2013
22306047@unknown@formal@none@1@S@In an unusual move, several funds moved to calm investors with recordings on their toll-free phone lines.@@@@1@17@@oe@2-2-2013
22306048@unknown@formal@none@1@S@"We view {Friday's} market decline as offering us a buying opportunity as long-term investors," a recording at Gabelli & Co. funds said over the weekend.@@@@1@25@@oe@2-2-2013
22306049@unknown@formal@none@1@S@The Janus Group had a similar recording for investors.@@@@1@9@@oe@2-2-2013
22306050@unknown@formal@none@1@S@Several fund managers expect a rough market this morning before prices stabilize.@@@@1@12@@oe@2-2-2013
22306051@unknown@formal@none@1@S@Some early selling is likely to stem from investors and portfolio managers who want to lock in this year's fat profits.@@@@1@21@@oe@2-2-2013
22306052@unknown@formal@none@1@S@Stock funds have averaged a staggering gain of 25% through September, according to Lipper Analytical Services Inc.@@@@1@17@@oe@2-2-2013
22306053@unknown@formal@none@1@S@Elaine Garzarelli, who runs Shearson Lehman Hutton Inc.'s $335 million Sector Analysis Portfolio, predicts the market will open down at least 50 points on technical factors and "some panic selling."@@@@1@30@@oe@2-2-2013
22306054@unknown@formal@none@1@S@But she expects prices to rebound soon and is telling investors she expects the stock market won't decline more than 10% to 15% from recent highs.@@@@1@26@@oe@2-2-2013
22306055@unknown@formal@none@1@S@"This is not a major crash," she said.@@@@1@8@@oe@2-2-2013
22306056@unknown@formal@none@1@S@Nevertheless, Ms. Garzarelli said she was swamped with phone calls over the weekend from nervous shareholders.@@@@1@16@@oe@2-2-2013
22306057@unknown@formal@none@1@S@"Half of them are really scared and want to sell," she said, "but I'm trying to talk them out of it."@@@@1@21@@oe@2-2-2013
22306058@unknown@formal@none@1@S@She added, "If they all were bullish, I'd really be upset."@@@@1@11@@oe@2-2-2013
22306059@unknown@formal@none@1@S@The backdrop to Friday's slide was markedly different from that of the October 1987 crash, fund managers argue.@@@@1@18@@oe@2-2-2013
22306060@unknown@formal@none@1@S@Two years ago, unlike today, the dollar was weak, interest rates were rising and the market was very overvalued, they say.@@@@1@21@@oe@2-2-2013
22306061@unknown@formal@none@1@S@"From the investors' standpoint, institutions and individuals learned a painful lesson . . . by selling at the lows" on Black Monday, said Stephen Boesel, manager of the $580 million T. Rowe Price Growth and Income Fund.@@@@1@37@@oe@2-2-2013
22306062@unknown@formal@none@1@S@This time, "I don't think we'll get a panic reaction.@@@@1@10@@oe@2-2-2013
22307001@unknown@formal@none@1@S@Newport Corp. said it expects to report fiscal-first-quarter earnings of between 15 cents and 19 cents a share, somewhat below analysts' estimates of 19 cents to 23 cents.@@@@1@28@@oe@2-2-2013
22307002@unknown@formal@none@1@S@The maker of scientific instruments and laser parts said orders fell below expectations in recent months.@@@@1@16@@oe@2-2-2013
22307003@unknown@formal@none@1@S@A spokesman added that sales in the current quarter will about equal the yearearlier quarter's figure, when Newport reported net income of $1.7 million, or 21 cents a share, on $14.1 million in sales.@@@@1@34@@oe@2-2-2013
22308001@unknown@formal@none@1@S@Ripples from the strike by 55,000 Machinists union members against Boeing Co. reached air carriers Friday as America West Airlines announced it will postpone its new service out of Houston because of delays in receiving aircraft from the Seattle jet maker.@@@@1@41@@oe@2-2-2013
22308002@unknown@formal@none@1@S@Peter Otradovec, vice president for planning at the Phoenix, Ariz., carrier, said in an interview that the work stoppage at Boeing, now entering its 13th day, "has caused some turmoil in our scheduling" and that more than 500 passengers who were booked to fly out of Houston on America West would now be put on other airlines.@@@@1@57@@oe@2-2-2013
22308003@unknown@formal@none@1@S@Mr. Otradovec said Boeing told America West that the 757 it was supposed to get this Thursday wouldn't be delivered until Nov. 7 -- the day after the airline had been planning to initiate service at Houston with four daily flights, including three nonstops to Phoenix and one nonstop to Las Vegas.@@@@1@52@@oe@2-2-2013
22308004@unknown@formal@none@1@S@Now, those routes aren't expected to begin until Jan.@@@@1@9@@oe@2-2-2013
22308005@unknown@formal@none@1@S@Boeing is also supposed to send to America West another 757 twin-engine aircraft as well as a 737 by year's end.@@@@1@21@@oe@2-2-2013
22308006@unknown@formal@none@1@S@Those, too, are almost certain to arrive late.@@@@1@8@@oe@2-2-2013
22308007@unknown@formal@none@1@S@At this point, no other America West flights -- including its new service at San Antonio, Texas; Newark, N.J.; and Palmdale, Calif. -- have been affected by the delays in Boeing deliveries.@@@@1@32@@oe@2-2-2013
22308008@unknown@formal@none@1@S@Nevertheless, the company's reaction underscores the domino effect that a huge manufacturer such as Boeing can have on other parts of the economy.@@@@1@23@@oe@2-2-2013
22308009@unknown@formal@none@1@S@It also is sure to help the machinists put added pressure on the company.@@@@1@14@@oe@2-2-2013
22308010@unknown@formal@none@1@S@"I just don't feel that the company can really stand or would want a prolonged walkout," Tom Baker, president of Machinists' District 751, said in an interview yesterday.@@@@1@28@@oe@2-2-2013
22308011@unknown@formal@none@1@S@"I don't think their customers would like it very much."@@@@1@10@@oe@2-2-2013
22308012@unknown@formal@none@1@S@America West, though, is a smaller airline and therefore more affected by the delayed delivery of a single plane than many of its competitors would be.@@@@1@26@@oe@2-2-2013
22308013@unknown@formal@none@1@S@"I figure that American and United probably have such a hard time counting all the planes in their fleets, they might not miss one at all," Mr. Otradovec said.@@@@1@29@@oe@2-2-2013
22308014@unknown@formal@none@1@S@Indeed, a random check Friday didn't seem to indicate that the strike was having much of an effect on other airline operations.@@@@1@22@@oe@2-2-2013
22308015@unknown@formal@none@1@S@Southwest Airlines has a Boeing 737-300 set for delivery at the end of this month and expects to have the plane on time.@@@@1@23@@oe@2-2-2013
22308016@unknown@formal@none@1@S@"It's so close to completion, Boeing's told us there won't be a problem," said a Southwest spokesman.@@@@1@17@@oe@2-2-2013
22308017@unknown@formal@none@1@S@A spokesman for AMR Corp. said Boeing has assured American Airlines it will deliver a 757 on time later this month.@@@@1@21@@oe@2-2-2013
22308018@unknown@formal@none@1@S@American is preparing to take delivery of another 757 in early December and 20 more next year and isn't anticipating any changes in that timetable.@@@@1@25@@oe@2-2-2013
22308019@unknown@formal@none@1@S@In Seattle, a Boeing spokesman explained that the company has been in constant communication with all of its customers and that it was impossible to predict what further disruptions might be triggered by the strike.@@@@1@35@@oe@2-2-2013
22308020@unknown@formal@none@1@S@Meanwhile, supervisors and non-striking employees have been trying to finish some 40 aircraft -- mostly 747 and 767 jumbo jets at the company's Everett, Wash., plant -- that were all but completed before the walkout.@@@@1@35@@oe@2-2-2013
22308021@unknown@formal@none@1@S@As of Friday, four had been delivered and a fifth plane, a 747-400, was supposed to be flown out over the weekend to Air China.@@@@1@25@@oe@2-2-2013
22308022@unknown@formal@none@1@S@No date has yet been set to get back to the bargaining table.@@@@1@13@@oe@2-2-2013
22308023@unknown@formal@none@1@S@"We want to make sure they know what they want before they come back," said Doug Hammond, the federal mediator who has been in contact with both sides since the strike began.@@@@1@32@@oe@2-2-2013
22308024@unknown@formal@none@1@S@The investment community, for one, has been anticipating a speedy resolution.@@@@1@11@@oe@2-2-2013
22308025@unknown@formal@none@1@S@Though Boeing's stock price was battered along with the rest of the market Friday, it actually has risen over the last two weeks on the strength of new orders.@@@@1@29@@oe@2-2-2013
22308026@unknown@formal@none@1@S@"The market has taken two views: that the labor situation will get settled in the short term and that things look very rosy for Boeing in the long term," said Howard Rubel, an analyst at Cyrus J. Lawrence Inc.@@@@1@39@@oe@2-2-2013
22308027@unknown@formal@none@1@S@Boeing's shares fell $4 Friday to close at $57.375 in composite trading on the New York Stock Exchange.@@@@1@18@@oe@2-2-2013
22308028@unknown@formal@none@1@S@But Mr. Baker said he thinks the earliest a pact could be struck would be the end of this month, hinting that the company and union may resume negotiations as early as this week.@@@@1@34@@oe@2-2-2013
22308029@unknown@formal@none@1@S@Still, he said, it's possible that the strike could last considerably longer.@@@@1@12@@oe@2-2-2013
22308030@unknown@formal@none@1@S@"I wouldn't expect an immediate resolution to anything."@@@@1@8@@oe@2-2-2013
22308031@unknown@formal@none@1@S@Last week, Boeing Chairman Frank Shrontz sent striking workers a letter, saying that "to my knowledge, Boeing's offer represents the best overall three-year contract of any major U.S. industrial firm in recent history."@@@@1@33@@oe@2-2-2013
22308032@unknown@formal@none@1@S@But Mr. Baker called the letter -- and the company's offer of a 10% wage increase over the life of the pact, plus bonuses -- "very weak."@@@@1@27@@oe@2-2-2013
22308033@unknown@formal@none@1@S@He added that the company miscalculated the union's resolve and the workers' disgust with being forced to work many hours overtime.@@@@1@21@@oe@2-2-2013
22308034@unknown@formal@none@1@S@In separate developments: -- Talks have broken off between Machinists representatives at Lockheed Corp. and the Calabasas, Calif., aerospace company.@@@@1@20@@oe@2-2-2013
22308035@unknown@formal@none@1@S@The union is continuing to work through its expired contract, however.@@@@1@11@@oe@2-2-2013
22308036@unknown@formal@none@1@S@It had planned a strike vote for next Sunday, but that has been pushed back indefinitely.@@@@1@16@@oe@2-2-2013
22308037@unknown@formal@none@1@S@-- United Auto Workers Local 1069, which represents 3,000 workers at Boeing's helicopter unit in Delaware County, Pa., said it agreed to extend its contract on a day-by-day basis, with a 10-day notification to cancel, while it continues bargaining.@@@@1@39@@oe@2-2-2013
22308038@unknown@formal@none@1@S@The accord expired yesterday.@@@@1@4@@oe@2-2-2013
22308039@unknown@formal@none@1@S@-- And Boeing on Friday said it received an order from Martinair Holland for four model 767-300 wide-body jetliners valued at a total of about $326 million.@@@@1@27@@oe@2-2-2013
22308040@unknown@formal@none@1@S@The planes, long range versions of the medium-haul twin-jet, will be delivered with Pratt & Whitney PW4060 engines.@@@@1@18@@oe@2-2-2013
22308041@unknown@formal@none@1@S@Pratt & Whitney is a unit of United Technologies Inc.@@@@1@10@@oe@2-2-2013
22308042@unknown@formal@none@1@S@Martinair Holland is based in Amsterdam.@@@@1@6@@oe@2-2-2013
22308043@unknown@formal@none@1@S@A Boeing spokeswoman said a delivery date for the planes is still being worked out "for a variety of reasons, but not because of the strike."@@@@1@26@@oe@2-2-2013
22308044@unknown@formal@none@1@S@Bridget O'Brian contributed to this article.@@@@1@6@@oe@2-2-2013
22309001@unknown@formal@none@1@S@Atco Ltd. said its utilities arm is considering building new electric power plants, some valued at more than one billion Canadian dollars (US$851 million), in Great Britain and elsewhere.@@@@1@29@@oe@2-2-2013
22309002@unknown@formal@none@1@S@C.S. Richardson, Atco's senior vice president, finance, said its 50.1%-owned Canadian Utilities Ltd. unit is reviewing cogeneration projects in eastern Canada, and conventional electric power generating plants elsewhere, including Britain, where the British government plans to allow limited competition in electrical generation from private-sector suppliers as part of its privatization program.@@@@1@51@@oe@2-2-2013
22309003@unknown@formal@none@1@S@"The projects are big.@@@@1@4@@oe@2-2-2013
22309004@unknown@formal@none@1@S@They can be C$1 billion plus," Mr. Richardson said.@@@@1@9@@oe@2-2-2013
22309005@unknown@formal@none@1@S@"But we wouldn't go into them alone," and Canadian Utilities' equity stake would be small, he said.@@@@1@17@@oe@2-2-2013
22309006@unknown@formal@none@1@S@"Ideally, we'd like to be the operator {of the project} and a modest equity investor.@@@@1@15@@oe@2-2-2013
22309007@unknown@formal@none@1@S@Our long suit is our proven ability to operate" power plants, he said.@@@@1@13@@oe@2-2-2013
22309008@unknown@formal@none@1@S@Mr. Richardson wouldn't offer specifics regarding Atco's proposed British project, but he said it would compete for customers with two huge British power generating companies that would be formed under the country's plan to privatize its massive water and electric utilities.@@@@1@41@@oe@2-2-2013
22309009@unknown@formal@none@1@S@Britain's government plans to raise about #20 billion ($31.05 billion) from the sale of most of its giant water and electric utilities, beginning next month.@@@@1@25@@oe@2-2-2013
22309010@unknown@formal@none@1@S@The planned electric utility sale, scheduled for next year, is alone expected to raise #13 billion, making it the world's largest public offering.@@@@1@23@@oe@2-2-2013
22309011@unknown@formal@none@1@S@Under terms of the plan, independent generators would be able to compete for 15% of customers until 1994, and for another 10% between 1994 and 1998.@@@@1@26@@oe@2-2-2013
22309012@unknown@formal@none@1@S@Canadian Utilities had 1988 revenue of C$1.16 billion, mainly from its natural gas and electric utility businesses in Alberta, where the company serves about 800,000 customers.@@@@1@26@@oe@2-2-2013
22309013@unknown@formal@none@1@S@"There seems to be a move around the world to deregulate the generation of electricity," Mr. Richardson said, and Canadian Utilities hopes to capitalize on it.@@@@1@26@@oe@2-2-2013
22309014@unknown@formal@none@1@S@"This is a real thrust on our utility side," he said, adding that Canadian Utilities is also mulling projects in underdeveloped countries, though he would be specific.@@@@1@27@@oe@2-2-2013
22309015@unknown@formal@none@1@S@Canadian Utilities isn't alone in exploring power generation opportunities in Britain, in anticipation of the privatization program.@@@@1@17@@oe@2-2-2013
22309016@unknown@formal@none@1@S@"We're certainly looking at some power generating projects in England," said Bruce Stram, vice president, corporate strategy and corporate planning, with Enron Corp., Houston, a big natural gas producer and pipeline operator.@@@@1@32@@oe@2-2-2013
22309017@unknown@formal@none@1@S@Mr. Stram said Enron is considering building gas-fired power plants in the U.K. capable of producing about 500 megawatts of power at a cost of about $300 million to $400 million.@@@@1@31@@oe@2-2-2013
22310001@unknown@formal@none@1@S@PSE Inc. said it expects to report third earnings of $1.3 million to $1.7 million, or 14 cents to 18 cents a share.@@@@1@23@@oe@2-2-2013
22310002@unknown@formal@none@1@S@In the year-ago quarter, the designer and operator of cogeneration and waste heat recovery plants had net income of $326,000, or four cents a share, on revenue of about $41.4 million.@@@@1@31@@oe@2-2-2013
22310003@unknown@formal@none@1@S@The company said the improvement is related to additional cogeneration facilities that have been put into operation.@@@@1@17@@oe@2-2-2013
22311001@unknown@formal@none@1@S@CONCORDE trans-Atlantic flights are $2,400 to Paris and $3,200 to London.@@@@1@11@@oe@2-2-2013
22311002@unknown@formal@none@1@S@In a Centennial Journal article Oct. 5, the fares were reversed.@@@@1@11@@oe@2-2-2013
22312001@unknown@formal@none@1@S@Diamond Shamrock Offshore Partners said it had discovered gas offshore Louisiana.@@@@1@11@@oe@2-2-2013
22312002@unknown@formal@none@1@S@The well flowed at a rate of 2.016 million cubic feet of gas a day through a 16 64-inch opening at depths between 5,782 and 5,824 feet.@@@@1@27@@oe@2-2-2013
22312003@unknown@formal@none@1@S@Diamond Shamrock is the operator, with a 100% interest in the well.@@@@1@12@@oe@2-2-2013
22312004@unknown@formal@none@1@S@Diamond Shamrock Offshore's stock rose 12.5 cents Friday to close at $8.25 in New York Stock Exchange composite trading.@@@@1@19@@oe@2-2-2013
22313001@unknown@formal@none@1@S@Kaufman & Broad Home Corp. said it formed a $53.4 million limited partnership subsidiary to buy land in California suitable for residential development.@@@@1@23@@oe@2-2-2013
22313002@unknown@formal@none@1@S@The partnership, Kaufman & Broad Land Development Venture Limited Partnership, is a 50-50 joint venture with a trust created by institutional clients of Heitman Advisory Corp., a unit of Heitman Financial Corp., a real estate advisory, management and development company with offices in Chicago and Beverly Hills, Calif.@@@@1@48@@oe@2-2-2013
22313003@unknown@formal@none@1@S@Kaufman & Broad, a home building company, declined to identify the institutional investors.@@@@1@13@@oe@2-2-2013
22313004@unknown@formal@none@1@S@The land to be purchased by the joint venture hasn't yet received zoning and other approvals required for development, and part of Kaufman & Broad's job will be to obtain such approvals.@@@@1@32@@oe@2-2-2013
22313005@unknown@formal@none@1@S@The partnership runs the risk that it may not get the approvals for development, but in return, it can buy land at wholesale rather than retail prices, which can result in sizable savings, said Bruce Karatz, president and chief executive officer of Kaufman & Broad.@@@@1@45@@oe@2-2-2013
22313006@unknown@formal@none@1@S@"There are really very few companies that have adequate capital to buy properties in a raw state for cash.@@@@1@19@@oe@2-2-2013
22313007@unknown@formal@none@1@S@Typically, developers option property, and then once they get the administrative approvals, they buy it," said Mr. Karatz, adding that he believes the joint venture is the first of its kind.@@@@1@31@@oe@2-2-2013
22313008@unknown@formal@none@1@S@"We usually operate in that conservative manner."@@@@1@7@@oe@2-2-2013
22313009@unknown@formal@none@1@S@By setting up the joint venture, Kaufman & Broad can take the more aggressive approach of buying raw land, while avoiding the negative impacts to its own balance sheet, Mr. Karatz said.@@@@1@32@@oe@2-2-2013
22313010@unknown@formal@none@1@S@The company is putting up only 10% of the capital, although it is responsible for providing management, planning and processing services to the joint venture.@@@@1@25@@oe@2-2-2013
22313011@unknown@formal@none@1@S@"This is one of the best ways to assure a pipeline of land to fuel our growth at a minimum risk to our company," Mr. Karatz said.@@@@1@27@@oe@2-2-2013
22314001@unknown@formal@none@1@S@When the price of plastics took off in 1987, Quantum Chemical Corp. went along for the ride.@@@@1@17@@oe@2-2-2013
22314002@unknown@formal@none@1@S@The timing of Quantum's chief executive officer, John Hoyt Stookey, appeared to be nothing less than inspired, because he had just increased Quantum's reliance on plastics.@@@@1@26@@oe@2-2-2013
22314003@unknown@formal@none@1@S@The company outpaced much of the chemical industry as annual profit grew fivefold in two years.@@@@1@16@@oe@2-2-2013
22314004@unknown@formal@none@1@S@Mr. Stookey said of the boom, "It's going to last a whole lot longer than anybody thinks."@@@@1@17@@oe@2-2-2013
22314005@unknown@formal@none@1@S@But now prices have nose-dived and Quantum's profit is plummeting.@@@@1@10@@oe@2-2-2013
22314006@unknown@formal@none@1@S@Some securities analysts are looking for no better than break-even results from the company for the third quarter, compared with year-earlier profit of $99.8 million, or $3.92 a share, on sales of $724.4 million.@@@@1@34@@oe@2-2-2013
22314007@unknown@formal@none@1@S@The stock, having lost nearly a quarter of its value since Sept. 1, closed at $34.375 share, down $1.125, in New York Stock Exchange composite trading Friday.@@@@1@27@@oe@2-2-2013
22314008@unknown@formal@none@1@S@To a degree, Quantum represents the new times that have arrived for producers of the so-called commodity plastics that pervade modern life.@@@@1@22@@oe@2-2-2013
22314009@unknown@formal@none@1@S@Having just passed through one of the most profitable periods in their history, these producers now see their prices eroding.@@@@1@20@@oe@2-2-2013
22314010@unknown@formal@none@1@S@Pricing cycles, to be sure, are nothing new for plastics producers.@@@@1@11@@oe@2-2-2013
22314011@unknown@formal@none@1@S@And the financial decline of some looks steep only in comparison with the heady period that is just behind them.@@@@1@20@@oe@2-2-2013
22314012@unknown@formal@none@1@S@"We were all wonderful heroes last year," says an executive at one of Quantum's competitors.@@@@1@15@@oe@2-2-2013
22314013@unknown@formal@none@1@S@"Now we're at the bottom of the heap."@@@@1@8@@oe@2-2-2013
22314014@unknown@formal@none@1@S@At Quantum, which is based in New York, the trouble is magnified by the company's heavy dependence on plastics.@@@@1@19@@oe@2-2-2013
22314015@unknown@formal@none@1@S@Once known as National Distillers & Chemical Corp., the company exited the wine and spirits business and plowed more of its resources into plastics after Mr. Stookey took the chief executive's job in 1986.@@@@1@34@@oe@2-2-2013
22314016@unknown@formal@none@1@S@Mr. Stookey, 59 years old, declined to be interviewed for this article, but he has consistently argued that over the long haul -- across both the peaks and the troughs of the plastics market -- Quantum will prosper through its new direction.@@@@1@42@@oe@2-2-2013
22314017@unknown@formal@none@1@S@Quantum's lot is mostly tied to polyethylene resin, used to make garbage bags, milk jugs, housewares, toys and meat packaging, among other items.@@@@1@23@@oe@2-2-2013
22314018@unknown@formal@none@1@S@In the U.S. polyethylene market, Quantum has claimed the largest share, about 20%.@@@@1@13@@oe@2-2-2013
22314019@unknown@formal@none@1@S@But its competitors -- including Dow Chemical Co., Union Carbide Corp. and several oil giants -- have much broader business interests and so are better cushioned against price swings.@@@@1@29@@oe@2-2-2013
22314020@unknown@formal@none@1@S@When the price of polyethylene moves a mere penny a pound, Quantum's annual profit fluctuates by about 85 cents a share, provided no other variables are changing.@@@@1@27@@oe@2-2-2013
22314021@unknown@formal@none@1@S@In recent months the price of polyethylene, even more than that of other commodity plastics, has taken a dive.@@@@1@19@@oe@2-2-2013
22314022@unknown@formal@none@1@S@Benchmark grades, which still sold for as much as 50 cents a pound last spring, have skidded to between 35 cents and 40 cents.@@@@1@24@@oe@2-2-2013
22314023@unknown@formal@none@1@S@Meanwhile, the price of ethylene, the chemical building block of polyethylene, hasn't dropped nearly so fast.@@@@1@16@@oe@2-2-2013
22314024@unknown@formal@none@1@S@That discrepancy hurts Quantum badly, because its own plants cover only about half of its ethylene needs.@@@@1@17@@oe@2-2-2013
22314025@unknown@formal@none@1@S@By many accounts, an early hint of a price rout in the making came at the start of this year.@@@@1@20@@oe@2-2-2013
22314026@unknown@formal@none@1@S@China, which had been putting in huge orders for polyethylene, abruptly halted them.@@@@1@13@@oe@2-2-2013
22314027@unknown@formal@none@1@S@Calculating that excess polyethylene would soon be sloshing around the world, other buyers then bet that prices had peaked and so began to draw down inventories rather than order new product.@@@@1@31@@oe@2-2-2013
22314028@unknown@formal@none@1@S@Kenneth Mitchell, director of Dow's polyethylene business, says producers were surprised to learn how much inventories had swelled throughout the distribution chain as prices spiraled up.@@@@1@26@@oe@2-2-2013
22314029@unknown@formal@none@1@S@"People were even hoarding bags," he says.@@@@1@7@@oe@2-2-2013
22314030@unknown@formal@none@1@S@Now producers hope prices have hit bottom.@@@@1@7@@oe@2-2-2013
22314031@unknown@formal@none@1@S@They recently announced increases of a few cents a pound to take effect in the next several weeks.@@@@1@18@@oe@2-2-2013
22314032@unknown@formal@none@1@S@No one knows, however, whether the new posted prices will stick once producers and customers start to haggle.@@@@1@18@@oe@2-2-2013
22314033@unknown@formal@none@1@S@One doubter is George Krug, a chemical-industry analyst at Oppenheimer & Co. and a bear on plastics stocks.@@@@1@18@@oe@2-2-2013
22314034@unknown@formal@none@1@S@Noting others' estimates of when price increases can be sustained, he remarks, "Some say October.@@@@1@15@@oe@2-2-2013
22314035@unknown@formal@none@1@S@Some say November.@@@@1@3@@oe@2-2-2013
22314036@unknown@formal@none@1@S@I say 1992."@@@@1@3@@oe@2-2-2013
22314037@unknown@formal@none@1@S@He argues that efforts to firm up prices will be undermined by producers' plans to expand production capacity.@@@@1@18@@oe@2-2-2013
22314038@unknown@formal@none@1@S@A quick turnaround is crucial to Quantum because its cash requirements remain heavy.@@@@1@13@@oe@2-2-2013
22314039@unknown@formal@none@1@S@The company is trying to carry out a three-year, $1.3 billion plant-expansion program started this year.@@@@1@16@@oe@2-2-2013
22314040@unknown@formal@none@1@S@At the same time, its annual payments on long-term debt will more than double from a year ago to about $240 million, largely because of debt taken on to pay a $50-a-share special dividend earlier this year.@@@@1@37@@oe@2-2-2013
22314041@unknown@formal@none@1@S@Quantum described the payout at the time as a way for it to share the bonanza with its holders, because its stock price wasn't reflecting the huge profit increases.@@@@1@29@@oe@2-2-2013
22314042@unknown@formal@none@1@S@Some analysts saw the payment as an effort also to dispel takeover speculation.@@@@1@13@@oe@2-2-2013
22314043@unknown@formal@none@1@S@Whether a cash crunch might eventually force the company to cut its quarterly dividend, raised 36% to 75 cents a share only a year ago, has become a topic of intense speculation on Wall Street since Mr. Stookey deflected dividend questions in a Sept. 29 meeting with analysts.@@@@1@48@@oe@2-2-2013
22314044@unknown@formal@none@1@S@Some viewed his response -- that company directors review the dividend regularly -- as nothing more than the standard line from executives.@@@@1@22@@oe@2-2-2013
22314045@unknown@formal@none@1@S@But others came away thinking he had given something less than his usual straight-from-the-shoulder performance.@@@@1@15@@oe@2-2-2013
22314046@unknown@formal@none@1@S@In any case, on the day of the meeting, Quantum's shares slid $2.625 to $36.625 in Big Board trading.@@@@1@19@@oe@2-2-2013
22314047@unknown@formal@none@1@S@On top of everything else, Quantum confronts a disaster at its plant in Morris, Ill.@@@@1@15@@oe@2-2-2013
22314048@unknown@formal@none@1@S@After an explosion idled the plant in June, the company progressed in September to within 12 hours of completing the drawn-out process of restarting it.@@@@1@25@@oe@2-2-2013
22314049@unknown@formal@none@1@S@Then a second explosion occurred.@@@@1@5@@oe@2-2-2013
22314050@unknown@formal@none@1@S@Two workers died and six remain in the hospital.@@@@1@9@@oe@2-2-2013
22314051@unknown@formal@none@1@S@This human toll adds the most painful dimension yet to the sudden change in Quantum's fortunes.@@@@1@16@@oe@2-2-2013
22314052@unknown@formal@none@1@S@Until this year, the company had been steadily lowering its accident rate and picking up trade-group safety awards.@@@@1@18@@oe@2-2-2013
22314053@unknown@formal@none@1@S@A prolonged production halt at the plant could introduce another imponderable into Quantum's financial future.@@@@1@15@@oe@2-2-2013
22314054@unknown@formal@none@1@S@When a plant has just been running flat out to meet demand, calculating lost profit and thus claims under business-interruption insurance is straightforward.@@@@1@23@@oe@2-2-2013
22314055@unknown@formal@none@1@S@But the numbers become trickier -- and subject to dickering between insured and insurer -- when demand is shifting.@@@@1@19@@oe@2-2-2013
22314056@unknown@formal@none@1@S@"You say you could have sold X percent of this product and Y percent of that," recalls Theodore Semegran, an analyst at Shearson Lehman Hutton who went through this exercise during his former career as a chemical engineer.@@@@1@38@@oe@2-2-2013
22314057@unknown@formal@none@1@S@"And then you still have to negotiate."@@@@1@7@@oe@2-2-2013
22314058@unknown@formal@none@1@S@Quantum hopes the Morris plant, where limited production got under way last week, will resume full operation by year's end.@@@@1@20@@oe@2-2-2013
22314059@unknown@formal@none@1@S@The plant usually accounts for 20% to 25% of Quantum's polyethylene production and 50% of its ethylene production.@@@@1@18@@oe@2-2-2013
22314060@unknown@formal@none@1@S@Not everything looks grim for Quantum.@@@@1@6@@oe@2-2-2013
22314061@unknown@formal@none@1@S@The plant expansion should strengthen the company's sway in the polyethylene business, where market share is often taken through sheer capacity.@@@@1@21@@oe@2-2-2013
22314062@unknown@formal@none@1@S@By lifting ethylene production, the expansion will also lower the company's raw material costs.@@@@1@14@@oe@2-2-2013
22314063@unknown@formal@none@1@S@Quantum is also tightening its grip on its one large business outside chemicals, propane marketing.@@@@1@15@@oe@2-2-2013
22314064@unknown@formal@none@1@S@Through a venture with its investment banker, First Boston Corp., Quantum completed in August an acquisition of Petrolane Inc. in a transaction valued at $1.18 billion.@@@@1@26@@oe@2-2-2013
22314065@unknown@formal@none@1@S@Petrolane is the second-largest propane distributor in the U.S.@@@@1@9@@oe@2-2-2013
22314066@unknown@formal@none@1@S@The largest, Suburban Propane, was already owned by Quantum.@@@@1@9@@oe@2-2-2013
22314067@unknown@formal@none@1@S@Still, Quantum has a crisis to get past right now.@@@@1@10@@oe@2-2-2013
22314068@unknown@formal@none@1@S@Some analysts speculate the weakening stock may yet attract a suitor.@@@@1@11@@oe@2-2-2013
22314069@unknown@formal@none@1@S@The name surfacing in rumors is British Petroleum Co., which is looking to expand its polyethylene business in the U.S.@@@@1@20@@oe@2-2-2013
22314070@unknown@formal@none@1@S@Asked about a bid for Quantum, a BP spokesman says, "We pretty much have a policy of not commenting on rumors, and I think that falls in that category.@@@@1@29@@oe@2-2-2013
22315001@unknown@formal@none@1@S@RJR Nabisco Inc. is disbanding its division responsible for buying network advertising time, just a month after moving 11 of the group's 14 employees to New York from Atlanta.@@@@1@29@@oe@2-2-2013
22315002@unknown@formal@none@1@S@A spokesman for the New York-based food and tobacco giant, taken private earlier this year in a $25 billion leveraged buy-out by Kohlberg Kravis Roberts & Co., confirmed that it is shutting down the RJR Nabisco Broadcast unit, and dismissing its 14 employees, in a move to save money.@@@@1@49@@oe@2-2-2013
22315003@unknown@formal@none@1@S@The spokesman said RJR is discussing its network-buying plans with its two main advertising firms, FCB/Leber Katz and McCann Erickson.@@@@1@20@@oe@2-2-2013
22315004@unknown@formal@none@1@S@"We found with the size of our media purchases that an ad agency could do just as good a job at significantly lower cost," said the spokesman, who declined to specify how much RJR spends on network television time.@@@@1@39@@oe@2-2-2013
22315005@unknown@formal@none@1@S@An executive close to the company said RJR is spending about $140 million on network television time this year, down from roughly $200 million last year.@@@@1@26@@oe@2-2-2013
22315006@unknown@formal@none@1@S@The spokesman said the broadcast unit will be disbanded Dec. 1, and the move won't affect RJR's print, radio and spot-television buying practices.@@@@1@23@@oe@2-2-2013
22315007@unknown@formal@none@1@S@The broadcast group had been based in New York until a year ago, when RJR's previous management moved it to Atlanta, the company's headquarters before this summer.@@@@1@27@@oe@2-2-2013
22315008@unknown@formal@none@1@S@One employee with the group said RJR moved 11 employees of the group back to New York in September because "there was supposed to be a future."@@@@1@27@@oe@2-2-2013
22315009@unknown@formal@none@1@S@He said the company hired three more buyers for the unit within the past two weeks, wooing them from jobs with advertising agencies.@@@@1@23@@oe@2-2-2013
22315010@unknown@formal@none@1@S@The RJR spokesman said the company moved the 11 employees to New York last month because the group had then been in the midst of purchasing ad time for the networks' upcoming season.@@@@1@33@@oe@2-2-2013
22315011@unknown@formal@none@1@S@"The studies {on closing the unit} couldn't be completed until now," he said.@@@@1@13@@oe@2-2-2013
22315012@unknown@formal@none@1@S@The group's president, Peter Chrisanthopoulos, wasn't in his office Friday afternoon to comment.@@@@1@13@@oe@2-2-2013
22316001@unknown@formal@none@1@S@The U.S., which is finalizing its steel-import quotas, is allocating a larger share of its steel market to developing and newly industrialized countries which have relatively unsubsidized steel industries.@@@@1@29@@oe@2-2-2013
22316002@unknown@formal@none@1@S@Meanwhile, the U.S. has negotiated a significant cut in Japan's steel quota, and made only a minor increase to the steel allotment for the European Community.@@@@1@26@@oe@2-2-2013
22316003@unknown@formal@none@1@S@Brazil, similar to Mexico and South Korea, is expected to negotiate a somewhat bigger share of the U.S. market than it had under the previous five-year steel quotas, which expired Sept. 30.@@@@1@32@@oe@2-2-2013
22316004@unknown@formal@none@1@S@Brazil and Venezuela are the only two countries that haven't completed steel talks with the U.S. for the year ending Oct. 1, 1990.@@@@1@23@@oe@2-2-2013
22316005@unknown@formal@none@1@S@In recent years, U.S. steelmakers have supplied about 80% of the 100 million tons of steel used annually by the nation.@@@@1@21@@oe@2-2-2013
22316006@unknown@formal@none@1@S@Of the remaining 20% needed, the steel-quota negotiations allocate about 15% to foreign suppliers, with the difference supplied mainly by Canada -- which isn't included in the quota program.@@@@1@29@@oe@2-2-2013
22316007@unknown@formal@none@1@S@Other countries that don't have formal steel quotas with the U.S., such as Taiwan, Sweden and Argentina, also have supplied steel.@@@@1@21@@oe@2-2-2013
22316008@unknown@formal@none@1@S@Some of these countries have in recent years made informal agreements with the U.S. that are similar to quotas.@@@@1@19@@oe@2-2-2013
22316009@unknown@formal@none@1@S@The Bush administration earlier this year said it would extend steel quotas, known as voluntary restraint agreements, until March 31, 1992.@@@@1@21@@oe@2-2-2013
22316010@unknown@formal@none@1@S@It also said it would use that two-and-a-half year period to work toward an international consensus on freeing up the international steel trade, which has been notoriously managed, subsidized and protected by governments.@@@@1@33@@oe@2-2-2013
22316011@unknown@formal@none@1@S@The U.S. termed its plan, a "trade liberalization program," despite the fact that it is merely an extension.@@@@1@18@@oe@2-2-2013
22316012@unknown@formal@none@1@S@Mexico, which was one of the first countries to conclude its steel talks with the U.S., virtually doubled its quota to 0.95% of the U.S. steel market from 0.48% under the previous quotas.@@@@1@33@@oe@2-2-2013
22316013@unknown@formal@none@1@S@South Korea, which had 1.9% under the previous quotas, is set to get a small increase to about 1.95%.@@@@1@19@@oe@2-2-2013
22316014@unknown@formal@none@1@S@That increase rises to slightly more than 2% of the U.S. market if a joint Korean-U.S. steel project is included.@@@@1@20@@oe@2-2-2013
22316015@unknown@formal@none@1@S@Meanwhile, Brazil is expected to increase its allowance from the 1.43% share it has had in recent years.@@@@1@18@@oe@2-2-2013
22316016@unknown@formal@none@1@S@The EC and Japan -- the U.S.'s largest steel suppliers -- haven't been filling their quotas to the full extent.@@@@1@20@@oe@2-2-2013
22316017@unknown@formal@none@1@S@The EC steel industry, which has been coping with strong European demand, has been supplying about 5% of the U.S. market compared with recent quotas of about 6.7%.@@@@1@28@@oe@2-2-2013
22316018@unknown@formal@none@1@S@Japan has been shipping steel to total about 4.5% of the U.S. market compared with a quota of 5.9%.@@@@1@19@@oe@2-2-2013
22316019@unknown@formal@none@1@S@In the recent talks, the EC had its quota increased about 300,000 tons, to 7% of the U.S. market from 6.7% in 1988.@@@@1@23@@oe@2-2-2013
22316020@unknown@formal@none@1@S@But its quota has been as high as 6.9% in 1984.@@@@1@11@@oe@2-2-2013
22316021@unknown@formal@none@1@S@Japan, however, has agreed to cut its quota to about 5% from 5.9% previously.@@@@1@14@@oe@2-2-2013
22316022@unknown@formal@none@1@S@Japan, the EC, Brazil, Mexico and South Korea provide about 80% of the steel imported to the U.S. under the quota program.@@@@1@22@@oe@2-2-2013
22316023@unknown@formal@none@1@S@The balance is supplied by a host of smaller exporters, such as Australia and Venezuela.@@@@1@15@@oe@2-2-2013
22316024@unknown@formal@none@1@S@The U.S. had about an extra 2% of the domestic steel market to give to foreign suppliers in its quota talks.@@@@1@21@@oe@2-2-2013
22316025@unknown@formal@none@1@S@That was essentially made up of a 1% increase in the overall quota program and 1% from cutting Japan's allowance.@@@@1@20@@oe@2-2-2013
22316026@unknown@formal@none@1@S@Negotiators from the White House trade office will repeat these quota negotiations next year when they will have another 1% of the U.S. steel market to allocate.@@@@1@27@@oe@2-2-2013
22316027@unknown@formal@none@1@S@These optional 1%-a-year increases to the steel quota program are built into the Bush administration's steel-quota program to give its negotiators leverage with foreign steel suppliers to try to get them to withdraw subsidies and protectionism from their own steel industries.@@@@1@41@@oe@2-2-2013
22317001@unknown@formal@none@1@S@Elcotel Inc. expects fiscal second-quarter earnings to trail 1988 results, but anticipates that several new products will lead to a "much stronger" performance in its second half.@@@@1@27@@oe@2-2-2013
22317002@unknown@formal@none@1@S@Elcotel, a telecommunications company, had net income of $272,000, or five cents a share, in its year-earlier second quarter, ended Sept. 30.@@@@1@22@@oe@2-2-2013
22317003@unknown@formal@none@1@S@Revenue totaled $5 million.@@@@1@4@@oe@2-2-2013
22317004@unknown@formal@none@1@S@George Pierce, chairman and chief executive officer, said in an interview that earnings in the most recent quarter will be about two cents a share on revenue of just under $4 million.@@@@1@32@@oe@2-2-2013
22317005@unknown@formal@none@1@S@The lower results, Mr. Pierce said, reflect a 12-month decline in industry sales of privately owned pay telephones, Elcotel's primary business.@@@@1@21@@oe@2-2-2013
22317006@unknown@formal@none@1@S@Although Mr. Pierce expects that line of business to strengthen in the next year, he said Elcotel will also benefit from moving into other areas.@@@@1@25@@oe@2-2-2013
22317007@unknown@formal@none@1@S@Foremost among those is the company's entrance into the public facsimile business, Mr. Pierce said.@@@@1@15@@oe@2-2-2013
22317008@unknown@formal@none@1@S@Within the next year, Elcotel expects to place 10,000 fax machines, made by Minolta in Japan, in hotels, municipal buildings, drugstores and other public settings around the country.@@@@1@28@@oe@2-2-2013
22317009@unknown@formal@none@1@S@Elcotel will provide a credit-card reader for the machines to collect, store and forward billing data.@@@@1@16@@oe@2-2-2013
22317010@unknown@formal@none@1@S@Mr. Pierce said Elcotel should realize a minimum of $10 of recurring net earnings for each machine each month.@@@@1@19@@oe@2-2-2013
22317011@unknown@formal@none@1@S@Elcotel has also developed an automatic call processor that will make further use of the company's system for automating and handling credit-card calls and collect calls.@@@@1@26@@oe@2-2-2013
22317012@unknown@formal@none@1@S@Automatic call processors will provide that system for virtually any telephone, Mr. Pierce said, not just phones produced by Elcotel.@@@@1@20@@oe@2-2-2013
22317013@unknown@formal@none@1@S@The company will also be producing a new line of convenience telephones, which don't accept coins, for use in hotel lobbies, office lobbies, hospitality lounges and similar settings.@@@@1@28@@oe@2-2-2013
22317014@unknown@formal@none@1@S@Mr. Pierce estimated that the processors and convenience phones would produce about $5 of recurring net earnings for each machine each month.@@@@1@22@@oe@2-2-2013
22318001@unknown@formal@none@1@S@Britain's retail price index rose 0.7% in September from August and was up 7.6% for the year, the Central Statistical Office said.@@@@1@22@@oe@2-2-2013
22319001@unknown@formal@none@1@S@Quest Medical Inc. said it adopted a shareholders' rights plan in which rights to purchase shares of common stock will be distributed as a dividend to shareholders of record as of Oct. 23.@@@@1@33@@oe@2-2-2013
22319002@unknown@formal@none@1@S@The company said the plan wasn't adopted in response to any known offers for Quest, a maker and marketer of hospital products.@@@@1@22@@oe@2-2-2013
22319003@unknown@formal@none@1@S@The rights allow shareholders to purchase Quest stock at a discount if any person or group acquires more than 15% of the company's common stock or announces a tender offer.@@@@1@30@@oe@2-2-2013
22320001@unknown@formal@none@1@S@Measuring cups may soon be replaced by tablespoons in the laundry room.@@@@1@12@@oe@2-2-2013
22320002@unknown@formal@none@1@S@Procter & Gamble Co. plans to begin testing next month a superconcentrated detergent that will require only a few spoonfuls per washload.@@@@1@22@@oe@2-2-2013
22320003@unknown@formal@none@1@S@The move stems from lessons learned in Japan where local competitors have had phenomenal success with concentrated soapsuds.@@@@1@18@@oe@2-2-2013
22320004@unknown@formal@none@1@S@It also marks P&G's growing concern that its Japanese rivals, such as Kao Corp., may bring their superconcentrates to the U.S.@@@@1@21@@oe@2-2-2013
22320005@unknown@formal@none@1@S@The Cincinnati consumer-products giant got clobbered two years ago in Japan when Kao introduced a powerful detergent, called Attack, which quickly won a 30% stake in the Japanese markets.@@@@1@29@@oe@2-2-2013
22320006@unknown@formal@none@1@S@"They don't want to get caught again," says one industry watcher.@@@@1@11@@oe@2-2-2013
22320007@unknown@formal@none@1@S@Retailers in Phoenix, Ariz., say P&G's new powdered detergent -- to be called Cheer with Color Guard -- will be on shelves in that market by early November.@@@@1@28@@oe@2-2-2013
22320008@unknown@formal@none@1@S@A P&G spokeswoman confirmed that shipments to Phoenix started late last month.@@@@1@12@@oe@2-2-2013
22320009@unknown@formal@none@1@S@She said the company will study results from this market before expanding to others.@@@@1@14@@oe@2-2-2013
22320010@unknown@formal@none@1@S@Superconcentrates aren't entirely new for P&G.@@@@1@6@@oe@2-2-2013
22320011@unknown@formal@none@1@S@The company introduced a superconcentrated Lemon Cheer in Japan after watching the success of Attack.@@@@1@15@@oe@2-2-2013
22320012@unknown@formal@none@1@S@When Attack hit the shelves in 1987, P&G's share of the Japanese market fell to about 8% from more than 20%.@@@@1@21@@oe@2-2-2013
22320013@unknown@formal@none@1@S@With the help of Lemon Cheer, P&G's share is now estimated to be 12%.@@@@1@14@@oe@2-2-2013
22320014@unknown@formal@none@1@S@While the Japanese have embraced the compact packaging and convenience of concentrated products, the true test for P&G will be in the $4 billion U.S. detergent market, where growth is slow and liquids have gained prominence over powders.@@@@1@38@@oe@2-2-2013
22320015@unknown@formal@none@1@S@The company may have chosen to market the product under the Cheer name since it's already expanded its best-selling Tide into 16 different varieties, including this year's big hit, Tide with Bleach.@@@@1@32@@oe@2-2-2013
22320016@unknown@formal@none@1@S@With superconcentrates, however, it isn't always easy to persuade consumers that less is more; many people tend to dump too much detergent into the washing machine, believing that it takes a cup of powder to really clean the laundry.@@@@1@39@@oe@2-2-2013
22320017@unknown@formal@none@1@S@In the early 1980s, P&G tried to launch here a concentrated detergent under the Ariel brand name that it markets in Europe.@@@@1@22@@oe@2-2-2013
22320018@unknown@formal@none@1@S@But the product, which wasn't as concentrated as the new Cheer, bombed in a market test in Denver and was dropped.@@@@1@21@@oe@2-2-2013
22320019@unknown@formal@none@1@S@P&G and others also have tried repeatedly to hook consumers on detergent and fabric softener combinations in pouches, but they haven't sold well, despite the convenience.@@@@1@26@@oe@2-2-2013
22320020@unknown@formal@none@1@S@But P&G contends the new Cheer is a unique formula that also offers an ingredient that prevents colors from fading.@@@@1@20@@oe@2-2-2013
22320021@unknown@formal@none@1@S@And retailers are expected to embrace the product, in part because it will take up less shelf space.@@@@1@18@@oe@2-2-2013
22320022@unknown@formal@none@1@S@"When shelf space was cheap, bigger was better," says Hugh Zurkuhlen, an analyst at Salomon Bros.@@@@1@16@@oe@2-2-2013
22320023@unknown@formal@none@1@S@But with so many brands vying for space, that's no longer the case.@@@@1@13@@oe@2-2-2013
22320024@unknown@formal@none@1@S@If the new Cheer sells well, the trend toward smaller packaging is likely to accelerate as competitors follow with their own superconcentrates.@@@@1@22@@oe@2-2-2013
22320025@unknown@formal@none@1@S@Then retailers "will probably push the {less-established} brands out altogether," he says.@@@@1@12@@oe@2-2-2013
22320026@unknown@formal@none@1@S@Competition is bound to get tougher if Kao introduces a product like Attack in the U.S.@@@@1@16@@oe@2-2-2013
22320027@unknown@formal@none@1@S@To be sure, Kao wouldn't have an easy time taking U.S. market share away from the mighty P&G, which has about 23% of the market.@@@@1@25@@oe@2-2-2013
22320028@unknown@formal@none@1@S@Kao officials previously have said they are interested in selling detergents in the U.S., but so far the company has focused on acquisitions, such as last year's purchase of Andrew Jergens Co., a Cincinnati hand-lotion maker.@@@@1@36@@oe@2-2-2013
22320029@unknown@formal@none@1@S@It also has a product-testing facility in California.@@@@1@8@@oe@2-2-2013
22320030@unknown@formal@none@1@S@Some believe P&G's interest in a superconcentrated detergent goes beyond the concern for the Japanese.@@@@1@15@@oe@2-2-2013
22320031@unknown@formal@none@1@S@"This is something P&G would do with or without Kao," says Mr. Zurkuhlen.@@@@1@13@@oe@2-2-2013
22321001@unknown@formal@none@1@S@With economic tension between the U.S. and Japan worsening, many Japanese had feared last week's visit from U.S. Trade Representative Carla Hills.@@@@1@22@@oe@2-2-2013
22321002@unknown@formal@none@1@S@They expected a new barrage of demands that Japan do something quickly to reduce its trade surplus with the U.S.@@@@1@20@@oe@2-2-2013
22321003@unknown@formal@none@1@S@Instead, they got a discussion of the need for the U.S. and Japan to work together and of the importance of the long-term view.@@@@1@24@@oe@2-2-2013
22321004@unknown@formal@none@1@S@Mrs. Hills' first trip to Japan as America's chief trade negotiator had a completely different tone from last month's visit by Commerce Secretary Robert A. Mosbacher.@@@@1@26@@oe@2-2-2013
22321005@unknown@formal@none@1@S@Mr. Mosbacher called for concrete results by next spring in negotiations over fundamental Japanese business practices that supposedly inhibit free trade.@@@@1@21@@oe@2-2-2013
22321006@unknown@formal@none@1@S@He said such results should be "measurable in dollars and cents" in reducing the U.S. trade deficit with Japan.@@@@1@19@@oe@2-2-2013
22321007@unknown@formal@none@1@S@But Mrs. Hills, speaking at a breakfast meeting of the American Chamber of Commerce in Japan on Saturday, stressed that the objective "is not to get definitive action by spring or summer, it is rather to have a blueprint for action."@@@@1@41@@oe@2-2-2013
22321008@unknown@formal@none@1@S@She added that she expected "perhaps to have a down payment . . . some small step to convince the American people and the Japanese people that we're moving in earnest."@@@@1@31@@oe@2-2-2013
22321009@unknown@formal@none@1@S@How such remarks translate into policy won't become clear for months.@@@@1@11@@oe@2-2-2013
22321010@unknown@formal@none@1@S@American and Japanese officials offered several theories for the difference in approach betwen Mr. Mosbacher and Mrs. Hills.@@@@1@18@@oe@2-2-2013
22321011@unknown@formal@none@1@S@Many called it simply a contrast in styles.@@@@1@8@@oe@2-2-2013
22321012@unknown@formal@none@1@S@But some saw it as a classic negotiating tactic.@@@@1@9@@oe@2-2-2013
22321013@unknown@formal@none@1@S@Others said the Bush administration may feel the rhetoric on both sides is getting out of hand.@@@@1@17@@oe@2-2-2013
22321014@unknown@formal@none@1@S@And some said it reflected the growing debate in Washington over pursuing free trade with Japan versus some kind of managed trade.@@@@1@22@@oe@2-2-2013
22321015@unknown@formal@none@1@S@Asked to compare her visit to Mr. Mosbacher's, Mrs. Hills replied: "I didn't hear every word he spoke, but as a general proposition, I think we have a very consistent trade strategy in the Bush administration."@@@@1@36@@oe@2-2-2013
22321016@unknown@formal@none@1@S@Yet more than one American official who sat in with her during three days of talks with Japanese officials said her tone often was surprisingly "conciliatory."@@@@1@26@@oe@2-2-2013
22321017@unknown@formal@none@1@S@"I think my line has been very consistent," Mrs. Hills said at a news conference Saturday afternoon.@@@@1@17@@oe@2-2-2013
22321018@unknown@formal@none@1@S@"I am painted sometimes as ferocious, perhaps because I have a ferocious list of statutes to implement.@@@@1@17@@oe@2-2-2013
22321019@unknown@formal@none@1@S@I don't feel very ferocious.@@@@1@5@@oe@2-2-2013
22321020@unknown@formal@none@1@S@I don't feel either hard or soft.@@@@1@7@@oe@2-2-2013
22321021@unknown@formal@none@1@S@I feel committed to the program of opening markets and expanding trade."@@@@1@12@@oe@2-2-2013
22321022@unknown@formal@none@1@S@When she met the local press for the first time on Friday, Mrs. Hills firmly reiterated the need for progress in removing barriers to trade in forest products, satellites and supercomputers, three areas targeted under the Super 301 provision of the 1988 trade bill.@@@@1@44@@oe@2-2-2013
22321023@unknown@formal@none@1@S@She highlighted exclusionary business practices that the U.S. government has identified.@@@@1@11@@oe@2-2-2013
22321024@unknown@formal@none@1@S@But her main thrust was to promote the importance of world-wide free trade and open competition.@@@@1@16@@oe@2-2-2013
22321025@unknown@formal@none@1@S@She said the trade imbalance was mainly due to macroeconomic factors and shouldn't be tackled by setting quantitative targets.@@@@1@19@@oe@2-2-2013
22321026@unknown@formal@none@1@S@At her news conference for Japanese reporters, one economics journalist summed up the Japanese sense of relief.@@@@1@17@@oe@2-2-2013
22321027@unknown@formal@none@1@S@"My impression was that you would be a scary old lady," he said, drawing a few nervous chuckles from his colleagues.@@@@1@21@@oe@2-2-2013
22321028@unknown@formal@none@1@S@"But I am relieved to see that you are beautiful and gentle and intelligent and a person of integrity."@@@@1@19@@oe@2-2-2013
22321029@unknown@formal@none@1@S@Mrs. Hills' remarks did raise questions, at least among some U.S. officials, about what exactly her stance is on U.S. access to the Japanese semiconductor market.@@@@1@26@@oe@2-2-2013
22321030@unknown@formal@none@1@S@The U.S. share of the Japanese market has been stuck around 10% for years.@@@@1@14@@oe@2-2-2013
22321031@unknown@formal@none@1@S@Many Americans have interpreted a 1986 agreement as assuring U.S. companies a 20% share by 1991, but the Japanese have denied making any such promise.@@@@1@25@@oe@2-2-2013
22321032@unknown@formal@none@1@S@At one of her news conferences, Mrs. Hills said, "I believe we can do much better than 20%."@@@@1@18@@oe@2-2-2013
22321033@unknown@formal@none@1@S@But she stressed, "I am against managed trade.@@@@1@8@@oe@2-2-2013
22321034@unknown@formal@none@1@S@I will not enter into an agreement that stipulates to a percentage of the market.@@@@1@15@@oe@2-2-2013
22322001@unknown@formal@none@1@S@Traditional Industries Inc. said it expects to report a net loss for the fourth quarter that ended June 30 and is seeking new financing.@@@@1@24@@oe@2-2-2013
22322002@unknown@formal@none@1@S@The seller of photographic products and services said it is considering a number of financing alternatives, including seeking increases in its credit lines.@@@@1@23@@oe@2-2-2013
22322003@unknown@formal@none@1@S@Traditional declined to estimate the amount of the loss and wouldn't say if it expects to show a profit for the year.@@@@1@22@@oe@2-2-2013
22322004@unknown@formal@none@1@S@In the year ended June 30, 1988, Traditional reported net income of $4.9 million, or $1.21 a share.@@@@1@18@@oe@2-2-2013
22322005@unknown@formal@none@1@S@The company didn't break out its fourth-quarter results.@@@@1@8@@oe@2-2-2013
22322006@unknown@formal@none@1@S@In the latest nine months net income was $4.7 million, or $1.31 a share, on revenue of $44.3 million.@@@@1@19@@oe@2-2-2013
22322007@unknown@formal@none@1@S@Separately, the company said it would file a delayed fiscal-year report with the Securities and Exchange Commission "within approximately 45 days."@@@@1@21@@oe@2-2-2013
22322008@unknown@formal@none@1@S@It said the delay resulted from difficulties in resolving its accounting of a settlement with the Federal Trade Commission.@@@@1@19@@oe@2-2-2013
22322009@unknown@formal@none@1@S@Under an agreement filed in federal court in August to settle FTC objections to some Traditional sales practices, Traditional said it would establish a $250,000 trust fund to provide refunds to certain customers.@@@@1@33@@oe@2-2-2013
22323001@unknown@formal@none@1@S@Information International Inc. said it was sued by a buyer of its computerized newspaper-publishing system, alleging that the company failed to correct deficiencies in the system.@@@@1@26@@oe@2-2-2013
22323002@unknown@formal@none@1@S@A spokesman for Information International said the lawsuit by two units of Morris Communications Corp. seeks restitution of the system's about $3 million purchase price and cancellation of a software license provided by the Morris units to Information International for alleged failure to pay royalties.@@@@1@45@@oe@2-2-2013
22323003@unknown@formal@none@1@S@Information International said it believes that the complaints, filed in federal court in Georgia, are without merit.@@@@1@17@@oe@2-2-2013
22323004@unknown@formal@none@1@S@Closely held Morris Communications is based in Augusta, Ga.@@@@1@9@@oe@2-2-2013
22323005@unknown@formal@none@1@S@The units that filed the suit are Southeastern Newspapers Corp. and Florida Publishing Co.@@@@1@14@@oe@2-2-2013
22324001@unknown@formal@none@1@S@Syms Corp. completed the sale of its A. Sulka & Co. subsidiary, a men's luxury haberdashery, to Luxco Investments.@@@@1@19@@oe@2-2-2013
22324002@unknown@formal@none@1@S@Terms weren't disclosed.@@@@1@3@@oe@2-2-2013
22324003@unknown@formal@none@1@S@As Syms's "core business of off-price retailing grows, a small subsidiary that is operationally unrelated becomes a difficult distraction," said Marcy Syms, president of the parent, in a statement.@@@@1@29@@oe@2-2-2013
22324004@unknown@formal@none@1@S@A spokeswoman said Sulka operates a total of seven stores in the U.S. and overseas.@@@@1@15@@oe@2-2-2013
22324005@unknown@formal@none@1@S@Syms operates 25 off-price apparel stores in the U.S.@@@@1@9@@oe@2-2-2013
22325001@unknown@formal@none@1@S@The oil industry's middling profits could persist through the rest of the year.@@@@1@13@@oe@2-2-2013
22325002@unknown@formal@none@1@S@Major oil companies in the next few days are expected to report much less robust earnings than they did for the third quarter a year ago, largely reflecting deteriorating chemical prices and gasoline profitability.@@@@1@34@@oe@2-2-2013
22325003@unknown@formal@none@1@S@The gasoline picture may improve this quarter, but chemicals are likely to remain weak, industry executives and analysts say, reducing chances that profits could equal their year-earlier performance.@@@@1@28@@oe@2-2-2013
22325004@unknown@formal@none@1@S@The industry is "seeing a softening somewhat in volume and certainly in price in petrochemicals," Glenn Cox, president of Phillips Petroleum Co., said in an interview.@@@@1@26@@oe@2-2-2013
22325005@unknown@formal@none@1@S@"That change will obviously impact third and fourth quarter earnings" for the industry in general, he added.@@@@1@17@@oe@2-2-2013
22325006@unknown@formal@none@1@S@He didn't forecast Phillips's results.@@@@1@5@@oe@2-2-2013
22325007@unknown@formal@none@1@S@But securities analysts say Phillips will be among the companies hard-hit by weak chemical prices and will probably post a drop in third-quarter earnings.@@@@1@24@@oe@2-2-2013
22325008@unknown@formal@none@1@S@So, too, many analysts predict, will Exxon Corp., Chevron Corp. and Amoco Corp.@@@@1@13@@oe@2-2-2013
22325009@unknown@formal@none@1@S@Typical is what happened to the price of ethylene, a major commodity chemical produced in vast amounts by many oil companies.@@@@1@21@@oe@2-2-2013
22325010@unknown@formal@none@1@S@It has plunged 13% since July to around 26 cents a pound.@@@@1@12@@oe@2-2-2013
22325011@unknown@formal@none@1@S@A year ago ethylene sold for 33 cents, peaking at about 34 cents last December.@@@@1@15@@oe@2-2-2013
22325012@unknown@formal@none@1@S@A big reason for the chemical price retreat is overexpansion.@@@@1@10@@oe@2-2-2013
22325013@unknown@formal@none@1@S@Beginning in mid-1987, prices began accelerating as a growing U.S. economy and the weak dollar spurred demand.@@@@1@17@@oe@2-2-2013
22325014@unknown@formal@none@1@S@Companies added capacity furiously.@@@@1@4@@oe@2-2-2013
22325015@unknown@formal@none@1@S@Now, greatly increased supplies are on the market, while the dollar is stronger, and domestic economic growth is slower.@@@@1@19@@oe@2-2-2013
22325016@unknown@formal@none@1@S@Third-quarter profits from gasoline were weaker.@@@@1@6@@oe@2-2-2013
22325017@unknown@formal@none@1@S@"Refining margins were so good in the third quarter of last year and generally not very good this year," said William Randol, a securities analyst at First Boston Corp.@@@@1@29@@oe@2-2-2013
22325018@unknown@formal@none@1@S@Oil company refineries ran flat out to prepare for a robust holiday driving season in July and August that didn't materialize.@@@@1@21@@oe@2-2-2013
22325019@unknown@formal@none@1@S@The excess supply pushed gasoline prices down in that period.@@@@1@10@@oe@2-2-2013
22325020@unknown@formal@none@1@S@In addition, crude oil prices were up some from a year earlier, further pressuring profitability.@@@@1@15@@oe@2-2-2013
22325021@unknown@formal@none@1@S@Refiners say margins picked up in September, and many industry officials believe gasoline profits will rebound this quarter, though still not to the level of 1988's fourth quarter.@@@@1@28@@oe@2-2-2013
22325022@unknown@formal@none@1@S@During the 1988 second half, many companies posted record gasoline and chemical profits.@@@@1@13@@oe@2-2-2013
22325023@unknown@formal@none@1@S@Crude oil production may turn out to be the most surprising element of companies' earnings this year.@@@@1@17@@oe@2-2-2013
22325024@unknown@formal@none@1@S@Prices -- averaging roughly $2 a barrel higher in the third quarter than a year earlier -- have stayed well above most companies' expectations.@@@@1@24@@oe@2-2-2013
22325025@unknown@formal@none@1@S@Demand has been much stronger than anticipated, and it typically accelerates in the fourth quarter.@@@@1@15@@oe@2-2-2013
22325026@unknown@formal@none@1@S@"We could see higher oil prices this year," said Bryan Jacoboski, an analyst at PaineWebber Inc.@@@@1@16@@oe@2-2-2013
22325027@unknown@formal@none@1@S@That will translate into sharply higher production profits, particularly compared with last year when oil prices steadily fell to below $13 a barrel in the fourth quarter.@@@@1@27@@oe@2-2-2013
22325028@unknown@formal@none@1@S@While oil prices have been better than expected, natural gas prices have been worse.@@@@1@14@@oe@2-2-2013
22325029@unknown@formal@none@1@S@In the third quarter, they averaged about 5% less than they were in 1988.@@@@1@14@@oe@2-2-2013
22325030@unknown@formal@none@1@S@The main reason remains weather.@@@@1@5@@oe@2-2-2013
22325031@unknown@formal@none@1@S@Last summer was notable for a heat wave and drought that caused utilities to burn more natural gas to feed increased electrical demand from air conditioning use.@@@@1@27@@oe@2-2-2013
22325032@unknown@formal@none@1@S@This summer, on the other hand, had milder weather than usual.@@@@1@11@@oe@2-2-2013
22325033@unknown@formal@none@1@S@"We've been very disappointed in the performance of natural gas prices," said Mr. Cox, Phillips's president.@@@@1@16@@oe@2-2-2013
22325034@unknown@formal@none@1@S@"The lagging gas price is not going to assist fourth quarter performance as many had expected."@@@@1@16@@oe@2-2-2013
22325035@unknown@formal@none@1@S@Going into the fourth quarter, natural gas prices are anywhere from 8% to 17% lower than a year earlier.@@@@1@19@@oe@2-2-2013
22325036@unknown@formal@none@1@S@For instance, natural gas currently produced along the Gulf Coast is selling on the spot market for around $1.47 a thousand cubic feet, down 13% from $1.69 a thousand cubic feet a year ago.@@@@1@34@@oe@2-2-2013
22326001@unknown@formal@none@1@S@The Bush administration, trying to blunt growing demands from Western Europe for a relaxation of controls on exports to the Soviet bloc, is questioning whether Italy's Ing. C. Olivetti & Co. supplied militarily valuable technology to the Soviets.@@@@1@38@@oe@2-2-2013
22326002@unknown@formal@none@1@S@Most of the Western European members of Coordinating Committee on Multilateral Export Controls, the unofficial forum through which the U.S. and its allies align their export-control policies, are expected to argue for more liberal export rules at a meeting to be held in Paris Oct. 25 and 26.@@@@1@48@@oe@2-2-2013
22326003@unknown@formal@none@1@S@They plan to press specifically for a relaxation of rules governing exports of machine tools, computers and other high-technology products.@@@@1@20@@oe@2-2-2013
22326004@unknown@formal@none@1@S@But the Bush administration says it wants to see evidence that all Cocom members are complying fully with existing export-control procedures before it will support further liberalization.@@@@1@27@@oe@2-2-2013
22326005@unknown@formal@none@1@S@To make its point, it is challenging the Italian government to explain reports that Olivetti may have supplied the Soviet Union with sophisticated computer-driven devices that could be used to build parts for combat aircraft.@@@@1@35@@oe@2-2-2013
22326006@unknown@formal@none@1@S@The London Sunday Times, which first reported the U.S. concerns, cited a U.S. intelligence report as the source of the allegations that Olivetti exported $25 million in "embargoed, state-of-the-art, flexible manufacturing systems to the Soviet aviation industry."@@@@1@37@@oe@2-2-2013
22326007@unknown@formal@none@1@S@Olivetti reportedly began shipping these tools in 1984.@@@@1@8@@oe@2-2-2013
22326008@unknown@formal@none@1@S@A State Department spokesman acknowledged that the U.S. is discussing the allegations with the Italian government and Cocom, but declined to confirm any details.@@@@1@24@@oe@2-2-2013
22326009@unknown@formal@none@1@S@Italian President Francesco Cossiga promised a quick investigation into whether Olivetti broke Cocom rules.@@@@1@14@@oe@2-2-2013
22326010@unknown@formal@none@1@S@President Bush called his attention to the matter during the Italian leader's visit here last week.@@@@1@16@@oe@2-2-2013
22326011@unknown@formal@none@1@S@Olivetti has denied that it violated Cocom rules, asserting that the reported shipments were properly licensed by the Italian authorities.@@@@1@20@@oe@2-2-2013
22326012@unknown@formal@none@1@S@Although the legality of these sales is still an open question, the disclosure couldn't be better timed to support the position of export-control hawks in the Pentagon and the intelligence community.@@@@1@31@@oe@2-2-2013
22326013@unknown@formal@none@1@S@"It seems to me that a story like this breaks just before every important Cocom meeting," said a Washington lobbyist for a number of U.S. computer companies.@@@@1@27@@oe@2-2-2013
22326014@unknown@formal@none@1@S@The Bush administration has sent conflicting signals about its export-control policies, reflecting unhealed divisions among several competing agencies.@@@@1@18@@oe@2-2-2013
22326015@unknown@formal@none@1@S@Last summer, Mr. Bush moved the administration in the direction of gradual liberalization when he told a North Atlantic Treaty Organization meeting that he would allow some exceptions to the Cocom embargo of strategic goods.@@@@1@35@@oe@2-2-2013
22326016@unknown@formal@none@1@S@But more recently, the Pentagon and the Commerce Department openly feuded over the extent to which Cocom should liberalize exports of personal computers to the bloc.@@@@1@26@@oe@2-2-2013
22326017@unknown@formal@none@1@S@However, these agencies generally agree that the West should be cautious about any further liberalization.@@@@1@15@@oe@2-2-2013
22326018@unknown@formal@none@1@S@"There's no evidence that the Soviet program to (illegally) acquire Western technology has diminished," said a State Department spokesman.@@@@1@19@@oe@2-2-2013
22327001@unknown@formal@none@1@S@Salomon Brothers International Ltd., a British subsidiary of Salomon Inc., announced it will issue warrants on shares of Hong Kong Telecommunications Ltd.@@@@1@22@@oe@2-2-2013
22327002@unknown@formal@none@1@S@The move closely follows a similar offer by Salomon of warrants for shares of Hongkong & Shanghai Banking Corp.@@@@1@19@@oe@2-2-2013
22327003@unknown@formal@none@1@S@Under the latest offer, HK$62.5 million (US$8 million) of three-year warrants will be issued in London, each giving buyers the right to buy one Hong Kong Telecommunications share at a price to be determined Friday.@@@@1@35@@oe@2-2-2013
22327004@unknown@formal@none@1@S@The 50 million warrants will be priced at HK$1.25 each and are expected to carry a premium to the share price of about 26%.@@@@1@24@@oe@2-2-2013
22327005@unknown@formal@none@1@S@In trading on the Stock Exchange of Hong Kong, the shares closed Wednesday at HK$4.80 each.@@@@1@16@@oe@2-2-2013
22327006@unknown@formal@none@1@S@At this price, the shares would have to rise above HK$6.05 for subscribers to Salomon's issue to profitably convert their warrants.@@@@1@21@@oe@2-2-2013
22327007@unknown@formal@none@1@S@While Hong Kong companies have in the past issued warrants on their own shares, Salomon's warrants are the first here to be issued by a third party.@@@@1@27@@oe@2-2-2013
22327008@unknown@formal@none@1@S@Salomon will "cover" the warrants by buying sufficient shares, or options to purchase shares, to cover its entire position.@@@@1@19@@oe@2-2-2013
22327009@unknown@formal@none@1@S@Bankers said warrants for Hong Kong stocks are attractive because they give foreign investors, wary of volatility in the colony's stock market, an opportunity to buy shares without taking too great a risk.@@@@1@33@@oe@2-2-2013
22327010@unknown@formal@none@1@S@The Hong Kong Telecommunications warrants should be attractive to buyers in Europe, the bankers added, because the group is one of a handful of blue-chip stocks on the Hong Kong market that has international appeal.@@@@1@35@@oe@2-2-2013
22328001@unknown@formal@none@1@S@Financial Corp. of Santa Barbara filed suit against former stock speculator Ivan F. Boesky and Drexel Burnham Lambert Inc., charging they defrauded the thrift by concealing their relationship when persuading it to buy $284 million in high-yield, high-risk junk bonds.@@@@1@40@@oe@2-2-2013
22328002@unknown@formal@none@1@S@In a suit filed in federal court Thursday, the S&L alleged that a "disproportionate number" of the bonds it purchased in 1984 declined in value.@@@@1@25@@oe@2-2-2013
22328003@unknown@formal@none@1@S@Financial Corp. purchased the bonds, the suit alleged, after Mr. Boesky and Drexel negotiated an agreement for Vagabond Hotels to purchase a 51% stake in the thrift for about $34 million.@@@@1@31@@oe@2-2-2013
22328004@unknown@formal@none@1@S@Vagabond Hotels was controlled by Mr. Boesky, who currently is serving a prison term for securities violations.@@@@1@17@@oe@2-2-2013
22328005@unknown@formal@none@1@S@Officials at Drexel said they hadn't seen the suit and thus couldn't comment.@@@@1@13@@oe@2-2-2013
22328006@unknown@formal@none@1@S@In addition to $33 million compensatory damages, the suit seeks $100 million in punitive damages.@@@@1@15@@oe@2-2-2013
22328007@unknown@formal@none@1@S@Also named in the suit is Ivan F. Boesky Corp. and Northview Corp., the successor company to Vagabonds Hotels.@@@@1@19@@oe@2-2-2013
22328008@unknown@formal@none@1@S@Northview officials couldn't be located.@@@@1@5@@oe@2-2-2013
22328009@unknown@formal@none@1@S@Financial Corp. said it agreed to buy the bonds after a representative of Ivan F. Boesky Corp. visited it in November 1983 and said Financial Corp. could improve its financial condition by purchasing the bonds.@@@@1@35@@oe@2-2-2013
22328010@unknown@formal@none@1@S@Shortly before the visit, Mr. Boesky and Drexel representives had met with Financial Corp. officials and had signed a letter of intent to acquire the 51% stake in the company.@@@@1@30@@oe@2-2-2013
22328011@unknown@formal@none@1@S@However, the agreement was canceled in June 1984.@@@@1@8@@oe@2-2-2013
22328012@unknown@formal@none@1@S@Financial Corp. purchased the bonds in at least 70 different transactions in 1984 and since then has realized $11 million in losses on them, the company said.@@@@1@27@@oe@2-2-2013
22329001@unknown@formal@none@1@S@Ideal Basic Industries Inc. said its directors reached an agreement in principle calling for HOFI North America Inc. to combine its North American cement holdings with Ideal in a transaction that will leave Ideal's minority shareholders with 12.8% of the combined company.@@@@1@42@@oe@2-2-2013
22329002@unknown@formal@none@1@S@HOFI, the North American holding company of Swiss concern Holderbank Financiere Glaris Ltd., previously proposed combining its 100% stake in St. Lawrence Cement Inc. and its 60% stake in Dundee Cement Co. with its 67% stake in Ideal.@@@@1@38@@oe@2-2-2013
22329003@unknown@formal@none@1@S@But HOFI's first offer would have given Ideal's other shareholders about 10% of the combined company.@@@@1@16@@oe@2-2-2013
22329004@unknown@formal@none@1@S@Ideal's directors rejected that offer, although they said they endorsed the merger proposal.@@@@1@13@@oe@2-2-2013
22329005@unknown@formal@none@1@S@Under the agreement, HOFI will own 87.2% of the combined company.@@@@1@11@@oe@2-2-2013
22329006@unknown@formal@none@1@S@Ideal's current operations will represent about 39.2% of the combined company.@@@@1@11@@oe@2-2-2013
22329007@unknown@formal@none@1@S@The transaction is subject to a definitive agreement and approval by Ideal shareholders.@@@@1@13@@oe@2-2-2013
22329008@unknown@formal@none@1@S@Ideal said it expects to complete the transaction early next year.@@@@1@11@@oe@2-2-2013
22330001@unknown@formal@none@1@S@While corn and soybean prices have slumped well below their drought-induced peaks of 1988, wheat prices remain stubbornly high.@@@@1@19@@oe@2-2-2013
22330002@unknown@formal@none@1@S@And they're likely to stay that way for months to come, analysts say.@@@@1@13@@oe@2-2-2013
22330003@unknown@formal@none@1@S@For one thing, even with many farmers planting more winter wheat this year than last, tight wheat supplies are likely to support prices well into 1990, the analysts say.@@@@1@29@@oe@2-2-2013
22330004@unknown@formal@none@1@S@And if rain doesn't fall soon across many of the Great Plains' wheat-growing areas, yields in the crop now being planted could be reduced, further squeezing supplies.@@@@1@27@@oe@2-2-2013
22330005@unknown@formal@none@1@S@Also supporting prices are expectations that the Soviet Union will place substantial buying orders over the next few months.@@@@1@19@@oe@2-2-2013
22330006@unknown@formal@none@1@S@By next May 31, stocks of U.S. wheat to be carried over into the next season -- before the winter wheat now being planted is harvested -- are projected to drop to 443 million bushels.@@@@1@35@@oe@2-2-2013
22330007@unknown@formal@none@1@S@That would be the lowest level since the early 1970s.@@@@1@10@@oe@2-2-2013
22330008@unknown@formal@none@1@S@Stocks were 698 million bushels on May 31 of this year.@@@@1@11@@oe@2-2-2013
22330009@unknown@formal@none@1@S@In response to dwindling domestic supplies, Agriculture Secretary Clayton Yeutter last month said the U.S. government would slightly increase the number of acres farmers can plant in wheat for next year and still qualify for federal support payments.@@@@1@38@@oe@2-2-2013
22330010@unknown@formal@none@1@S@The government estimates that the new plan will boost production next year by about 66 million bushels.@@@@1@17@@oe@2-2-2013
22330011@unknown@formal@none@1@S@It now estimates production for next year at just under 2.6 billion bushels, compared with this year's estimated 2.04 billion and a drought-stunted 1.81 billion in 1988.@@@@1@27@@oe@2-2-2013
22330012@unknown@formal@none@1@S@But the full effect on prices of the winter wheat now being planted won't be felt until the second half of next year.@@@@1@23@@oe@2-2-2013
22330013@unknown@formal@none@1@S@Until then, limited stocks are likely to keep prices near the $4-a-bushel level, analysts say.@@@@1@15@@oe@2-2-2013
22330014@unknown@formal@none@1@S@On the Chicago Board of Trade Friday, wheat for December delivery settled at $4.0675 a bushel, unchanged.@@@@1@17@@oe@2-2-2013
22330015@unknown@formal@none@1@S@In theory at least, tight supplies next spring could leave the wheat futures market susceptible to a supply-demand squeeze, said Daniel Basse, a futures analyst with AgResource Co. in Chicago.@@@@1@30@@oe@2-2-2013
22330016@unknown@formal@none@1@S@Such a situation can wreak havoc, as was shown by the emergency that developed in soybean futures trading this summer on the Chicago Board of Trade.@@@@1@26@@oe@2-2-2013
22330017@unknown@formal@none@1@S@In July, the CBOT ordered Ferruzzi Finanziaria S.p.A. to liquidate futures positions equal to about 23 million bushels of soybeans.@@@@1@20@@oe@2-2-2013
22330018@unknown@formal@none@1@S@The exchange said it feared that some members wouldn't be able to find enough soybeans to deliver and would have to default on their contractual obligation to the Italian conglomerate, which had refused requests to reduce its holdings.@@@@1@38@@oe@2-2-2013
22330019@unknown@formal@none@1@S@Ferruzzi has denied it was trying to manipulate the soybean futures market.@@@@1@12@@oe@2-2-2013
22330020@unknown@formal@none@1@S@Unseasonably hot, dry weather across large portions of the Great Plains and in wheat-growing areas in Washington and Oregon is threatening to reduce the yield from this season's winter wheat crop, said Conrad Leslie, a futures analyst and head of Leslie Analytical in Chicago.@@@@1@44@@oe@2-2-2013
22330021@unknown@formal@none@1@S@For example, in the Oklahoma panhandle, 40% or more of the topsoil is short of moisture.@@@@1@16@@oe@2-2-2013
22330022@unknown@formal@none@1@S@That figure climbs to about 47% in wheat-growing portions of Kansas, he said.@@@@1@13@@oe@2-2-2013
22330023@unknown@formal@none@1@S@The Soviet Union hasn't given any clear indication of its wheat purchase plans, but many analysts expect Moscow to place sizable orders for U.S. wheat in the next few months, further supporting prices.@@@@1@33@@oe@2-2-2013
22330024@unknown@formal@none@1@S@"Wheat prices will increasingly pivot off of Soviet demand" in coming weeks, predicted Richard Feltes, vice president, research, for Refco Inc. in Chicago.@@@@1@23@@oe@2-2-2013
22330025@unknown@formal@none@1@S@Looking ahead to other commodity markets this week:@@@@1@8@@oe@2-2-2013
22330026@unknown@formal@none@1@S@Orange Juice Traders will be watching to see how long and how far the price decline that began Friday will go.@@@@1@21@@oe@2-2-2013
22330027@unknown@formal@none@1@S@Late Thursday, after the close of trading, the market received what would normally have been a bullish U.S. Department of Agriculture estimate of the 1989-90 Florida orange crop.@@@@1@28@@oe@2-2-2013
22330028@unknown@formal@none@1@S@It was near the low range of estimates, at 130 million 90-pound boxes, compared with 146.6 million boxes last season.@@@@1@20@@oe@2-2-2013
22330029@unknown@formal@none@1@S@However, as expected, Brazil waited for the crop estimate to come out and then cut the export price of its juice concentrate to about $1.34 a pound from around $1.55.@@@@1@30@@oe@2-2-2013
22330030@unknown@formal@none@1@S@Friday's consequent selling of futures contracts erased whatever supportive effect the U.S. report might have had and sent the November orange juice contract down as much as 6.55 cents a pound at one time.@@@@1@34@@oe@2-2-2013
22330031@unknown@formal@none@1@S@It settled with a loss of 4.95 cents at $1.3210 a pound.@@@@1@12@@oe@2-2-2013
22330032@unknown@formal@none@1@S@Brazilian juice, after a delay caused by drought at the start of its crop season, is beginning to arrive in the U.S. in large quantities.@@@@1@25@@oe@2-2-2013
22330033@unknown@formal@none@1@S@Brazil wants to stimulate demand for its product, which is going to be in plentiful supply.@@@@1@16@@oe@2-2-2013
22330034@unknown@formal@none@1@S@The price cut, one analyst said, appeared to be aimed even more at Europe, where consumption of Brazilian juice has fallen.@@@@1@21@@oe@2-2-2013
22330035@unknown@formal@none@1@S@It's a dollar-priced product, and the strong dollar has made it more expensive in Europe, the analyst said.@@@@1@18@@oe@2-2-2013
22330036@unknown@formal@none@1@S@New York futures prices have dropped significantly from more than $2 a pound at midyear.@@@@1@15@@oe@2-2-2013
22330037@unknown@formal@none@1@S@Barring a cold snap or other crop problems in the growing areas, downward pressure on prices is likely to continue into January, when harvesting and processing of oranges in Florida reach their peak, the analyst said.@@@@1@36@@oe@2-2-2013
22330038@unknown@formal@none@1@S@Energy@@@@1@1@@oe@2-2-2013
22330039@unknown@formal@none@1@S@Although some analysts look for profit-taking in the wake of Friday's leap in crude oil prices, last week's rally is generally expected to continue this week.@@@@1@26@@oe@2-2-2013
22330040@unknown@formal@none@1@S@"I would continue to look for a stable crude market, at least in futures" trading, said William Hinton, an energy futures broker with Stotler & Co.@@@@1@26@@oe@2-2-2013
22330041@unknown@formal@none@1@S@Friday capped a week of steadily rising crude oil prices in both futures and spot markets.@@@@1@16@@oe@2-2-2013
22330042@unknown@formal@none@1@S@On the New York Mercantile Exchange, West Texas Intermediate crude for November delivery finished at $20.89 a barrel, up 42 cents on the day.@@@@1@24@@oe@2-2-2013
22330043@unknown@formal@none@1@S@On European markets, meanwhile, spot prices of North Sea crudes were up 35 to 75 cents a barrel.@@@@1@18@@oe@2-2-2013
22330044@unknown@formal@none@1@S@"This market still wants to go higher," said Nauman Barakat, a first vice president at Shearson Lehman Hutton Inc.@@@@1@19@@oe@2-2-2013
22330045@unknown@formal@none@1@S@He predicted that the November contract will reach $21.50 a barrel or more on the New York Mercantile Exchange.@@@@1@19@@oe@2-2-2013
22330046@unknown@formal@none@1@S@There has been little news to account for such buoyancy in the oil markets.@@@@1@14@@oe@2-2-2013
22330047@unknown@formal@none@1@S@Analysts generally cite a lack of bearish developments as well as rumors of a possible tightening of supplies of some fuels and crudes.@@@@1@23@@oe@2-2-2013
22330048@unknown@formal@none@1@S@There also are recurring reports that the Soviet Union is having difficulties with its oil exports and that Nigeria has about reached its production limit and can't produce as much as it could sell.@@@@1@34@@oe@2-2-2013
22330049@unknown@formal@none@1@S@Many traders foresee a tightening of near-term supplies, particularly of high-quality crudes such as those produced in the North Sea and in Nigeria.@@@@1@23@@oe@2-2-2013
22331001@unknown@formal@none@1@S@If a hostile predator emerges for Saatchi & Saatchi Co., co-founders Charles and Maurice Saatchi will lead a management buy-out attempt, an official close to the company said.@@@@1@28@@oe@2-2-2013
22331002@unknown@formal@none@1@S@Financing for any takeover attempt may be problematic in the wake of Friday's stock-market sell-off in New York and turmoil in the junk-bond market.@@@@1@24@@oe@2-2-2013
22331003@unknown@formal@none@1@S@But the beleaguered British advertising and consulting giant, which last week named a new chief executive officer to replace Maurice Saatchi, has been the subject of intense takeover speculation for weeks.@@@@1@31@@oe@2-2-2013
22331004@unknown@formal@none@1@S@Last week, Saatchi's largest shareholder, Southeastern Asset Management, said it had been approached by one or more third parties interested in a possible restructuring.@@@@1@24@@oe@2-2-2013
22331005@unknown@formal@none@1@S@And Carl Spielvogel, chief executive officer of Saatchi's big Backer Spielvogel Bates advertising unit, said he had offered to lead a management buy-out of the company, but was rebuffed by Charles Saatchi.@@@@1@32@@oe@2-2-2013
22331006@unknown@formal@none@1@S@Mr. Spielvogel said he wouldn't launch a hostile bid.@@@@1@9@@oe@2-2-2013
22331007@unknown@formal@none@1@S@The executive close to Saatchi & Saatchi said that "if a bidder came up with a ludicrously high offer, a crazy offer which Saatchi knew it couldn't beat, it would have no choice but to recommend it to shareholders.@@@@1@39@@oe@2-2-2013
22331008@unknown@formal@none@1@S@But {otherwise} it would undoubtedly come back" with an offer by management.@@@@1@12@@oe@2-2-2013
22331009@unknown@formal@none@1@S@The executive said any buy-out would be led by the current board, whose chairman is Maurice Saatchi and whose strategic guiding force is believed to be Charles Saatchi.@@@@1@28@@oe@2-2-2013
22331010@unknown@formal@none@1@S@Mr. Spielvogel isn't part of the board, nor are any of the other heads of Saatchi's big U.S.-based ad agencies.@@@@1@20@@oe@2-2-2013
22331011@unknown@formal@none@1@S@The executive didn't name any price, but securities analysts have said Saatchi would fetch upward of $1.3 billion.@@@@1@18@@oe@2-2-2013
22331012@unknown@formal@none@1@S@The executive denied speculation that Saatchi was bringing in the new chief executive officer only to clean up the company financially so that the brothers could lead a buy-back.@@@@1@29@@oe@2-2-2013
22331013@unknown@formal@none@1@S@That speculation abounded Friday as industry executives analyzed the appointment of the new chief executive, Robert Louis-Dreyfus, who joins Saatchi and becomes a member of its board on Jan. 1.@@@@1@30@@oe@2-2-2013
22331014@unknown@formal@none@1@S@Mr. Louis-Dreyfus, formerly chief executive of the pharmaceutical research firm IMS International Inc., has a reputation as a savvy financial manager, and will be charged largely with repairing Saatchi's poor financial state.@@@@1@32@@oe@2-2-2013
22331015@unknown@formal@none@1@S@Asked about the speculation that Mr. Louis-Dreyfus has been hired to pave the way for a buy-out by the brothers, the executive replied, "That isn't the reason Dreyfus has been brought in.@@@@1@32@@oe@2-2-2013
22331016@unknown@formal@none@1@S@He was brought in to turn around the company."@@@@1@9@@oe@2-2-2013
22331017@unknown@formal@none@1@S@Separately, several Saatchi agency clients said they believe the company's management shakeup will have little affect on them.@@@@1@18@@oe@2-2-2013
22331018@unknown@formal@none@1@S@"It hasn't had any impact on us, nor do we expect it to," said a spokeswoman for Miller Brewing Co., a major client of Backer Spielvogel.@@@@1@26@@oe@2-2-2013
22331019@unknown@formal@none@1@S@John Lampe, director of advertising at PaineWebber Inc., a Saatchi & Saatchi Advertising client, said: "We have no problem with the announcement, because we don't know what change it's going to bring about.@@@@1@33@@oe@2-2-2013
22331020@unknown@formal@none@1@S@We aren't going to change agencies because of a change in London."@@@@1@12@@oe@2-2-2013
22331021@unknown@formal@none@1@S@Executives at Backer Spielvogel client Avis Inc., as well as at Saatchi client Philips Lighting Co., also said they saw no effect.@@@@1@22@@oe@2-2-2013
22331022@unknown@formal@none@1@S@Executives at Prudential-Bache Securities Inc., a Backer Spielvogel client that is reviewing its account, declined comment.@@@@1@16@@oe@2-2-2013
22331023@unknown@formal@none@1@S@Mr. Spielvogel had said that Prudential-Bache was prepared to finance either a management buy-out and restructuring, or a buy-out of Backer Spielvogel alone, led by him.@@@@1@26@@oe@2-2-2013
22331024@unknown@formal@none@1@S@Ad Notes. . . .@@@@1@5@@oe@2-2-2013
22331025@unknown@formal@none@1@S@NEW ACCOUNT:@@@@1@2@@oe@2-2-2013
22331026@unknown@formal@none@1@S@California's Glendale Federal Bank awarded its $12 million to $15 million account to the Los Angeles office of Omnicom Group's BBDO agency.@@@@1@22@@oe@2-2-2013
22331027@unknown@formal@none@1@S@The account was previously handled by Davis, Ball & Colombatto Advertising Inc., a Los Angeles agency.@@@@1@16@@oe@2-2-2013
22331028@unknown@formal@none@1@S@ACCOUNT REVIEW:@@@@1@2@@oe@2-2-2013
22331029@unknown@formal@none@1@S@Royal Crown Cola Co. has ended its relationship with the Boston office of Hill, Holliday, Connors, Cosmopulos.@@@@1@17@@oe@2-2-2013
22331030@unknown@formal@none@1@S@The account had billed about $6 million in 1988, according to Leading National Advertisers.@@@@1@14@@oe@2-2-2013
22331031@unknown@formal@none@1@S@NOT-GUILTY PLEA:@@@@1@2@@oe@2-2-2013
22331032@unknown@formal@none@1@S@As expected, Young & Rubicam Inc. along with two senior executives and a former employee, pleaded not guilty in federal court in New Haven, Conn., to conspiracy and racketeering charges.@@@@1@30@@oe@2-2-2013
22331033@unknown@formal@none@1@S@The government has charged that they bribed Jamaican officials to win the Jamaica Tourist Board ad account in 1981.@@@@1@19@@oe@2-2-2013
22331034@unknown@formal@none@1@S@A spokesman for the U.S. Attorney's office said extradition proceedings are "just beginning" for the other two defendants in the case, Eric Anthony Abrahams, former Jamaican tourism minister, and Jamaican businessman Arnold Foote Jr.@@@@1@34@@oe@2-2-2013
22331035@unknown@formal@none@1@S@KOREAN AGENCY:@@@@1@2@@oe@2-2-2013
22331036@unknown@formal@none@1@S@The Samsung Group and Bozell Inc. agreed to establish a joint venture advertising agency in South Korea.@@@@1@17@@oe@2-2-2013
22331037@unknown@formal@none@1@S@Bozell Cheil Corp., as the new agency will be called, will be based in Seoul and is 70% owned by Samsung and 30% owned by Bozell.@@@@1@26@@oe@2-2-2013
22331038@unknown@formal@none@1@S@Samsung already owns Korea First Advertising Co., that country's largest agency.@@@@1@11@@oe@2-2-2013
22331039@unknown@formal@none@1@S@Bozell joins Backer Spielvogel Bates and Ogilvy Group as U.S. agencies with interests in Korean agencies.@@@@1@16@@oe@2-2-2013
22332001@unknown@formal@none@1@S@Citing a payment from a supplier and strong sales of certain data-storage products, Maxtor Corp. said earnings and revenue jumped in its second quarter ended Sept. 24.@@@@1@27@@oe@2-2-2013
22332002@unknown@formal@none@1@S@The maker of computer-data-storage products said net income rose to $4.8 million, or 23 cents a share, from year-earlier net of $1.1 million, or five cents a share.@@@@1@28@@oe@2-2-2013
22332003@unknown@formal@none@1@S@Revenue soared to $117 million from $81.5 million.@@@@1@8@@oe@2-2-2013
22332004@unknown@formal@none@1@S@Maxtor said its results were boosted by $2 million in payments received from a supplier, for a certain line of products that Maxtor isn't going to sell anymore.@@@@1@28@@oe@2-2-2013
22332005@unknown@formal@none@1@S@Maxtor said effects from discontinuing the line may have a positive effect on future earnings and revenue.@@@@1@17@@oe@2-2-2013
22332006@unknown@formal@none@1@S@A spokeswoman wouldn't elaborate, but the company said the discontinued product has never been a major source of revenue or profit.@@@@1@21@@oe@2-2-2013
22332007@unknown@formal@none@1@S@Operationally, Maxtor benefited from robust sales of products that store data for high-end personal computers and computer workstations.@@@@1@18@@oe@2-2-2013
22332008@unknown@formal@none@1@S@In the fiscal first half, net was $7 million, or 34 cents a share, up from the year-earlier $3.1 million, or 15 cents a share.@@@@1@25@@oe@2-2-2013
22332009@unknown@formal@none@1@S@Revenue rose to $225.5 million from $161.8 million.@@@@1@8@@oe@2-2-2013
22333001@unknown@formal@none@1@S@Robert G. Walden, 62 years old, was elected a director of this provider of advanced technology systems and services, increasing the board to eight members.@@@@1@25@@oe@2-2-2013
22333002@unknown@formal@none@1@S@He retired as senior vice president, finance and administration, and chief financial officer of the company Oct. 1.@@@@1@18@@oe@2-2-2013
22334001@unknown@formal@none@1@S@Southmark Corp. said that it filed part of its 10-K report with the Securities and Exchange Commission, but that the filing doesn't include its audited financial statements and related information.@@@@1@30@@oe@2-2-2013
22334002@unknown@formal@none@1@S@The real estate and thrift concern, operating under bankruptcy-law proceedings, said it told the SEC it couldn't provide financial statements by the end of its first extension "without unreasonable burden or expense."@@@@1@32@@oe@2-2-2013
22334003@unknown@formal@none@1@S@The company asked for a 15-day extension Sept. 30, when the financial reports were due.@@@@1@15@@oe@2-2-2013
22334004@unknown@formal@none@1@S@Southmark said it plans to amend its 10K to provide financial results as soon as its audit is completed.@@@@1@19@@oe@2-2-2013
22335001@unknown@formal@none@1@S@Alan Seelenfreund, 52 years old, was named chairman of this processor of prescription claims, succeeding Thomas W. Field Jr., 55, who resigned last month.@@@@1@24@@oe@2-2-2013
22335002@unknown@formal@none@1@S@Mr. Field also had been chairman of McKesson Corp., resigning that post after a dispute with the board over corporate strategy.@@@@1@21@@oe@2-2-2013
22335003@unknown@formal@none@1@S@Mr. Seelenfreund is executive vice president and chief financial officer of McKesson and will continue in those roles.@@@@1@18@@oe@2-2-2013
22335004@unknown@formal@none@1@S@PCS also named Rex R. Malson, 57, executive vice president at McKesson, as a director, filling the seat vacated by Mr. Field.@@@@1@22@@oe@2-2-2013
22335005@unknown@formal@none@1@S@Messrs. Malson and Seelenfreund are directors of McKesson, which has an 86% stake in PCS.@@@@1@15@@oe@2-2-2013
22336001@unknown@formal@none@1@S@MedChem Products Inc. said a U.S. District Court in Boston ruled that a challenge by MedChem to the validity of a U.S. patent held by Pharmacia Inc. was "without merit."@@@@1@30@@oe@2-2-2013
22336002@unknown@formal@none@1@S@Pharmacia, based in Upsala, Sweden, had charged in a lawsuit against MedChem that MedChem's AMVISC product line infringes on the Pharmacia patent.@@@@1@22@@oe@2-2-2013
22336003@unknown@formal@none@1@S@The patent is related to hyaluronic acid, a rooster-comb extract used in eye surgery.@@@@1@14@@oe@2-2-2013
22336004@unknown@formal@none@1@S@In its lawsuit, Pharmacia is seeking unspecified damages and a preliminary injunction to block MedChem from selling the AMVISC products.@@@@1@20@@oe@2-2-2013
22336005@unknown@formal@none@1@S@A MedChem spokesman said the products contribute about a third of MedChem's sales and 10% to 20% of its earnings.@@@@1@20@@oe@2-2-2013
22336006@unknown@formal@none@1@S@In the year ended Aug. 31, 1988, MedChem earned $2.9 million, or 72 cents a share, on sales of $17.4 million.@@@@1@21@@oe@2-2-2013
22336007@unknown@formal@none@1@S@MedChem said the court's ruling was issued as part of a "first-phase trial" in the patent-infringement proceedings and concerns only one of its defenses in the case.@@@@1@27@@oe@2-2-2013
22336008@unknown@formal@none@1@S@It said it is considering "all of its options in light of the decision, including a possible appeal."@@@@1@18@@oe@2-2-2013
22336009@unknown@formal@none@1@S@The medical-products company added that it plans to "assert its other defenses" against Pharmacia's lawsuit, including the claim that it hasn't infringed on Pharmacia's patent.@@@@1@25@@oe@2-2-2013
22336010@unknown@formal@none@1@S@MedChem said that the court scheduled a conference for next Monday -- to set a date for proceedings on Pharmacia's motion for a preliminary injunction.@@@@1@25@@oe@2-2-2013
22337001@unknown@formal@none@1@S@Newspaper publishers are reporting mixed third-quarter results, aided by favorable newsprint prices and hampered by flat or declining advertising linage, especially in the Northeast.@@@@1@24@@oe@2-2-2013
22337002@unknown@formal@none@1@S@Adding to unsteadiness in the industry, seasonal retail ad spending patterns in newspapers have been upset by shifts in ownership and general hardships within the retail industry.@@@@1@27@@oe@2-2-2013
22337003@unknown@formal@none@1@S@In New York, the Bonwit Teller and B. Altman & Co. department stores have filed for protection from creditors under Chapter 11 of the federal Bankruptcy Code, while the R.H. Macy & Co., Bloomingdale's and Saks Fifth Avenue department-store chains are for sale.@@@@1@43@@oe@2-2-2013
22337004@unknown@formal@none@1@S@Many papers throughout the country are also faced with a slowdown in classified-ad spending, a booming category for newspapers in recent years.@@@@1@22@@oe@2-2-2013
22337005@unknown@formal@none@1@S@Until recently, industry analysts believed decreases in retail ad spending had bottomed out and would in fact increase in this year's third and fourth quarters.@@@@1@25@@oe@2-2-2013
22337006@unknown@formal@none@1@S@All bets are off, analysts say, because of the shifting ownership of the retail chains.@@@@1@15@@oe@2-2-2013
22337007@unknown@formal@none@1@S@"Improved paper prices will help offset weakness in linage, but the retailers' problems have affected the amount of ad linage they usually run," said Edward J. Atorino, industry analyst for Salomon Brothers Inc.@@@@1@33@@oe@2-2-2013
22337008@unknown@formal@none@1@S@"Retailers are just in disarray."@@@@1@5@@oe@2-2-2013
22337009@unknown@formal@none@1@S@For instance, Gannett Co. posted an 11% gain in net income, as total ad pages dropped at USA Today, but advertising revenue rose because of a higher circulation rate base and increased rates.@@@@1@33@@oe@2-2-2013
22337010@unknown@formal@none@1@S@Gannett's 83 daily and 35 non-daily newspapers reported a 3% increase in advertising and circulation revenue.@@@@1@16@@oe@2-2-2013
22337011@unknown@formal@none@1@S@Total advertising linage was "modestly" lower as classified-ad volume increased, while there was "softer demand" for retail and national ad linage, said John Curley, Gannett's chief executive officer.@@@@1@28@@oe@2-2-2013
22337012@unknown@formal@none@1@S@At USA Today, ad pages totaled 785 for the quarter, down 9.2% from the 1988 period, which was helped by increased ad spending from the Summer Olympics.@@@@1@27@@oe@2-2-2013
22337013@unknown@formal@none@1@S@While USA Today's total paid ad pages for the year to date totaled 2,735, a decrease of 4% from last year, the paper's ad revenue increased 8% in the quarter and 13% in the nine months.@@@@1@36@@oe@2-2-2013
22337014@unknown@formal@none@1@S@In the nine months, Gannett's net rose 9.5% to $270 million, or $1.68 a share, from $247 million, or $1.52 a share.@@@@1@22@@oe@2-2-2013
22337015@unknown@formal@none@1@S@Revenue gained 6% to $2.55 billion from $2.4 billion.@@@@1@9@@oe@2-2-2013
22337016@unknown@formal@none@1@S@At Dow Jones & Co., third-quarter net income fell 9.9% from the year-earlier period.@@@@1@14@@oe@2-2-2013
22337017@unknown@formal@none@1@S@Net fell to $28.8 million, or 29 cents a share, from $32 million, or 33 cents a share.@@@@1@18@@oe@2-2-2013
22337018@unknown@formal@none@1@S@The year-earlier period included a one-time gain of $3.5 million, or four cents a share.@@@@1@15@@oe@2-2-2013
22337019@unknown@formal@none@1@S@Revenue gained 5.3% to $404.1 million from $383.8 million.@@@@1@9@@oe@2-2-2013
22337020@unknown@formal@none@1@S@The drop in profit reflected, in part, continued softness in financial advertising at The Wall Street Journal and Barron's magazine.@@@@1@20@@oe@2-2-2013
22337021@unknown@formal@none@1@S@Ad linage at the Journal fell 6.1% in the third quarter.@@@@1@11@@oe@2-2-2013
22337022@unknown@formal@none@1@S@Affiliated Publications Inc. reversed a year-earlier third quarter net loss.@@@@1@10@@oe@2-2-2013
22337023@unknown@formal@none@1@S@The publisher of the Boston Globe reported net of $8.5 million, or 12 cents a share, compared with a loss of $26.5 million, or 38 cents a share, for the third quarter in 1988.@@@@1@34@@oe@2-2-2013
22337024@unknown@formal@none@1@S@William O. Taylor, the parent's chairman and chief executive officer, said earnings continued to be hurt by softness in ad volume at the Boston newspaper.@@@@1@25@@oe@2-2-2013
22337025@unknown@formal@none@1@S@Third-quarter profit estimates for several companies are being strongly affected by the price of newsprint, which in the last two years has had several price increases.@@@@1@26@@oe@2-2-2013
22337026@unknown@formal@none@1@S@After a supply crunch caused prices to rise 14% since 1986 to $650 a metric ton, analysts are encouraged, because they don't expect a price increase for the rest of this year.@@@@1@32@@oe@2-2-2013
22337027@unknown@formal@none@1@S@Companies with daily newspapers in the Northeast will need the stable newsprint prices to ease damage from weak ad linage.@@@@1@20@@oe@2-2-2013
22337028@unknown@formal@none@1@S@Mr. Atorino at Salomon Brothers said he estimates that Times Mirror Co.'s earnings were down for the third quarter, because of soft advertising levels at its Long Island Newsday and Hartford Courant newspapers.@@@@1@33@@oe@2-2-2013
22337029@unknown@formal@none@1@S@Trouble on the East Coast was likely offset by improved ad linage at the Los Angeles Times, which this week also unveiled a redesign.@@@@1@24@@oe@2-2-2013
22337030@unknown@formal@none@1@S@New York Times Co. is expected to report lower earnings for the third quarter because of continued weak advertising levels at its flagship New York Times and deep discounting of newsprint at its affiliate, Forest Products Group.@@@@1@37@@oe@2-2-2013
22337031@unknown@formal@none@1@S@"Times Co.'s regional daily newspapers are holding up well, but there is little sign that things will improve in the New York market," said Alan Kassan, an analyst with Shearson Lehman Hutton.@@@@1@32@@oe@2-2-2013
22337032@unknown@formal@none@1@S@Washington Post Co. is expected to report improved earnings, largely because of increased cable revenue and publishing revenue helped by an improved retail market in the Washington area.@@@@1@28@@oe@2-2-2013
22337033@unknown@formal@none@1@S@According to analysts, profits were also helped by successful cost-cutting measures at Newsweek.@@@@1@13@@oe@2-2-2013
22337034@unknown@formal@none@1@S@The news-weekly has faced heightened competition from rival Time magazine and a relatively flat magazine advertising market.@@@@1@17@@oe@2-2-2013
22337035@unknown@formal@none@1@S@Knight-Ridder Inc. is faced with continued uncertainty over the pending joint operating agreement between its Detroit Free Press and Gannett's Detroit News, and has told analysts that earnings were down in the third quarter.@@@@1@34@@oe@2-2-2013
22337036@unknown@formal@none@1@S@However, analysts point to positive advertising spending at several of its major daily newspapers, such as the Miami Herald and San Jose Mercury News.@@@@1@24@@oe@2-2-2013
22337037@unknown@formal@none@1@S@"The Miami market is coming back strong after a tough couple of years" when Knight-Ridder "was starting up a Hispanic edition and circulation was falling," said Bruce Thorp, an analyst for Provident National Bank.@@@@1@34@@oe@2-2-2013
22338001@unknown@formal@none@1@S@General Motors Corp., in a series of moves that angered union officials in the U.S. and Canada, has signaled that as many as five North American assembly plants may not survive the mid-1990s as the corporation struggles to cut its excess vehicle-making capacity.@@@@1@43@@oe@2-2-2013
22338002@unknown@formal@none@1@S@In announcements to workers late last week, GM effectively signed death notices for two full-sized van assembly plants, and cast serious doubt on the futures of three U.S. car factories.@@@@1@30@@oe@2-2-2013
22338003@unknown@formal@none@1@S@GM is under intense pressure to close factories that became unprofitable as the giant auto maker's U.S. market share skidded during the past decade.@@@@1@24@@oe@2-2-2013
22338004@unknown@formal@none@1@S@The company, currently using about 80% of its North American vehicle capacity, has vowed it will run at 100% of capacity by 1992.@@@@1@23@@oe@2-2-2013
22338005@unknown@formal@none@1@S@Just a month ago, GM announced it would make an aging assembly plant in Lakewood, Ga., the eighth U.S. assembly facility to close since 1987.@@@@1@25@@oe@2-2-2013
22338006@unknown@formal@none@1@S@Now, GM appears to be stepping up the pace of its factory consolidation to get in shape for the 1990s.@@@@1@20@@oe@2-2-2013
22338007@unknown@formal@none@1@S@One reason is mounting competition from new Japanese car plants in the U.S. that are pouring out more than one million vehicles a year at costs lower than GM can match.@@@@1@31@@oe@2-2-2013
22338008@unknown@formal@none@1@S@Another is that United Auto Workers union officials have signaled they want tighter no-layoff provisions in the new Big Three national contract that will be negotiated next year.@@@@1@28@@oe@2-2-2013
22338009@unknown@formal@none@1@S@GM officials want to get their strategy to reduce capacity and the work force in place before those talks begin.@@@@1@20@@oe@2-2-2013
22338010@unknown@formal@none@1@S@The problem, however, is that GM's moves are coming at a time when UAW leaders are trying to silence dissidents who charge the union is too passive in the face of GM layoffs.@@@@1@33@@oe@2-2-2013
22338011@unknown@formal@none@1@S@Against that backdrop, UAW Vice President Stephen P. Yokich, who recently became head of the union's GM department, issued a statement Friday blasting GM's "flagrant insensitivity" toward union members.@@@@1@29@@oe@2-2-2013
22338012@unknown@formal@none@1@S@The auto maker's decision to let word of the latest shutdowns and product reassignments trickle out in separate communiques to the affected plants showed "disarray" and an "inability or unwillingness to provide consistent information," Mr. Yokich said.@@@@1@37@@oe@2-2-2013
22338013@unknown@formal@none@1@S@GM officials told workers late last week of the following moves: Production of full-sized vans will be consolidated into a single plant in Flint, Mich.@@@@1@25@@oe@2-2-2013
22338014@unknown@formal@none@1@S@That means two plants -- one in Scarborough, Ontario, and the other in Lordstown, Ohio -- probably will be shut down after the end of 1991.@@@@1@26@@oe@2-2-2013
22338015@unknown@formal@none@1@S@The shutdowns will idle about 3,000 Canadian assembly workers and about 2,500 workers in Ohio.@@@@1@15@@oe@2-2-2013
22338016@unknown@formal@none@1@S@Robert White, Canadian Auto Workers union president, used the impending Scarborough shutdown to criticize the U.S.-Canada free trade agreement and its champion, Prime Minister Brian Mulroney.@@@@1@26@@oe@2-2-2013
22338017@unknown@formal@none@1@S@But Canadian auto workers may benefit from a separate GM move that affects three U.S. car plants and one in Quebec.@@@@1@21@@oe@2-2-2013
22338018@unknown@formal@none@1@S@Workers at plants in Van Nuys, Calif., Oklahoma City and Pontiac, Mich., were told their facilities are no longer being considered to build the next generation of the Pontiac Firebird and Chevrolet Camaro muscle cars.@@@@1@35@@oe@2-2-2013
22338019@unknown@formal@none@1@S@GM is studying whether it can build the new Camaro-Firebird profitably at a plant in St. Therese, Quebec, company and union officials said.@@@@1@23@@oe@2-2-2013
22338020@unknown@formal@none@1@S@That announcement left union officials in Van Nuys and Oklahoma City uncertain about their futures.@@@@1@15@@oe@2-2-2013
22338021@unknown@formal@none@1@S@The Van Nuys plant, which employs about 3,000 workers, doesn't have a product to build after 1993.@@@@1@17@@oe@2-2-2013
22338022@unknown@formal@none@1@S@Jerry Shrieves, UAW local president, said the facility was asked to draw up plans to continue working as a "flex plant," which could build several different types of products on short notice to satisfy demand.@@@@1@35@@oe@2-2-2013
22338023@unknown@formal@none@1@S@At the Oklahoma City plant, which employs about 6,000 workers building the eight-year-old A-body mid-sized cars, Steve Featherston, UAW local vice president, said the plant has no new product lined up, and "none of us knows" when the A-body cars will die.@@@@1@42@@oe@2-2-2013
22338024@unknown@formal@none@1@S@He said he believes GM has plans to keep building A-body cars into the mid-1990s.@@@@1@15@@oe@2-2-2013
22338025@unknown@formal@none@1@S@At Pontiac, however, the Camaro-Firebird decision appears to erase UAW hopes that GM would reopen the shuttered assembly plant that last built the plastic-bodied, two-seater Pontiac Fiero model.@@@@1@28@@oe@2-2-2013
22338026@unknown@formal@none@1@S@The Fiero plant was viewed as a model of union-management cooperation at GM before slow sales of the Fiero forced the company to close the factory last year.@@@@1@28@@oe@2-2-2013
22338027@unknown@formal@none@1@S@Union officials have taken a beating politically as a result.@@@@1@10@@oe@2-2-2013
22338028@unknown@formal@none@1@S@Dissident UAW members have used the Fiero plant as a symbol of labor-management cooperation's failure.@@@@1@15@@oe@2-2-2013
22339001@unknown@formal@none@1@S@Institut Merieux S.A. of France said the Canadian government raised an obstacle to its proposed acquisition of Connaught BioSciences Inc. for 942 million Canadian dollars (US$801.6 million).@@@@1@27@@oe@2-2-2013
22339002@unknown@formal@none@1@S@Merieux said the government's minister of industry, science and technology told it that he wasn't convinced that the purchase is likely to be of "net benefit" to Canada.@@@@1@28@@oe@2-2-2013
22339003@unknown@formal@none@1@S@Canadian investment rules require that big foreign takeovers meet that standard.@@@@1@11@@oe@2-2-2013
22339004@unknown@formal@none@1@S@The French company said the government gave it 30 days in which to submit information to further support its takeover plan.@@@@1@21@@oe@2-2-2013
22339005@unknown@formal@none@1@S@Both Merieux and Connaught are biotechnology research and vaccine manufacturing concerns.@@@@1@11@@oe@2-2-2013
22339006@unknown@formal@none@1@S@The government's action was unusual.@@@@1@5@@oe@2-2-2013
22339007@unknown@formal@none@1@S@Alan Nymark, executive vice president of Investment Canada, which oversees foreign takeovers, said it marked the first time in its four-year history that the agency has made an adverse net-benefit decision about the acquisition of a publicly traded company.@@@@1@39@@oe@2-2-2013
22339008@unknown@formal@none@1@S@He said it has reached the same conclusions about some attempts to buy closely held concerns, but eventually allowed those acquisitions to proceed.@@@@1@23@@oe@2-2-2013
22339009@unknown@formal@none@1@S@"This isn't a change in government policy; this provision has been used before," said Jodi Redmond, press secretary for Harvie Andre, Canada's minister of industry, science and technology.@@@@1@28@@oe@2-2-2013
22339010@unknown@formal@none@1@S@Mr. Andre issued the ruling based on a recommendation by Investment Canada.@@@@1@12@@oe@2-2-2013
22339011@unknown@formal@none@1@S@Spokesmen for Merieux and Connaught said they hadn't been informed of specific areas of concern by either the government or Investment Canada, but added they hope to have more information early this week.@@@@1@33@@oe@2-2-2013
22339012@unknown@formal@none@1@S@Investment Canada declined to comment on the reasons for the government decision.@@@@1@12@@oe@2-2-2013
22339013@unknown@formal@none@1@S@Viren Mehta, a partner with Mehta & Isaly, a New York-based pharmaceutical industry research firm, said the government's ruling wasn't unexpected.@@@@1@21@@oe@2-2-2013
22339014@unknown@formal@none@1@S@"This has become a very politicized deal, concerning Canada's only large, world-class bio-research or pharmaceutical company," Mr. Mehta said.@@@@1@19@@oe@2-2-2013
22339015@unknown@formal@none@1@S@Mr. Mehta said the move that could allow the transaction to go ahead as planned could be an out-of-court settlement of Connaught's dispute with the University of Toronto.@@@@1@28@@oe@2-2-2013
22339016@unknown@formal@none@1@S@The University is seeking to block the acquisition of Connaught by foreign interests, citing concerns about the amount of research that would be done in Canada.@@@@1@26@@oe@2-2-2013
22339017@unknown@formal@none@1@S@The university is considering a settlement proposal made by Connaught.@@@@1@10@@oe@2-2-2013
22339018@unknown@formal@none@1@S@While neither side will disclose its contents, Mr. Mehta expects it to contain more specific guarantees on research and development spending levels in Canada than Merieux offered to Investment Canada.@@@@1@30@@oe@2-2-2013
22339019@unknown@formal@none@1@S@Some analysts, such as Murray Grossner of Toronto-based Richardson Greenshields Inc., believe the government ruling leaves the door open for other bidders, such as Switzerland's Ciba-Geigy and Chiron Corp. of Emeryville, Calif.@@@@1@32@@oe@2-2-2013
22339020@unknown@formal@none@1@S@Officials for the two concerns, which are bidding C$30 a share for Connaught, couldn't be reached for comment.@@@@1@18@@oe@2-2-2013
22339021@unknown@formal@none@1@S@French state-owned Rhone-Poulenc S.A. holds 51% of Merieux.@@@@1@8@@oe@2-2-2013
22340001@unknown@formal@none@1@S@Weatherford International Inc. said it canceled plans for a preferred-stock swap but may resume payment of dividends on the stock, and added that it expects to publicly offer about 10 million common shares.@@@@1@33@@oe@2-2-2013
22340002@unknown@formal@none@1@S@The company said it planned to offer an undetermined number of common shares in exchange for the 585,000 shares of its preferred stock outstanding.@@@@1@24@@oe@2-2-2013
22340003@unknown@formal@none@1@S@The exchange ratio was never established.@@@@1@6@@oe@2-2-2013
22340004@unknown@formal@none@1@S@Weatherford said market conditions led to the cancellation of the planned exchange.@@@@1@12@@oe@2-2-2013
22340005@unknown@formal@none@1@S@The energy-services concern said, however, that in January 1990, it may resume payments of dividends on the preferred stock.@@@@1@19@@oe@2-2-2013
22340006@unknown@formal@none@1@S@Weatherford suspended its preferred-dividend payment in October 1985 and said it hasn't any plans to catch up on dividends in arrears about $6 million, but will do so some time in the future.@@@@1@33@@oe@2-2-2013
22340007@unknown@formal@none@1@S@Additionally, the company said it filed with the Securities and Exchange Commission for the proposed offering of 10 million shares of common stock, expected to be offered in November.@@@@1@29@@oe@2-2-2013
22340008@unknown@formal@none@1@S@The company said Salomon Brothers Inc. and Howard, Weil, Labouisse, Friedrichs Inc., underwriters for the offering, were granted an option to buy as much as an additional 1.5 million shares to cover over-allotments.@@@@1@33@@oe@2-2-2013
22340009@unknown@formal@none@1@S@Proceeds will be used to eliminate and restructure bank debt.@@@@1@10@@oe@2-2-2013
22340010@unknown@formal@none@1@S@Weatherford currently has approximately 11.1 million common shares outstanding.@@@@1@9@@oe@2-2-2013
22341001@unknown@formal@none@1@S@Earnings for most of the nation's major pharmaceutical makers are believed to have moved ahead briskly in the third quarter, as companies with newer, big-selling prescription drugs fared especially well.@@@@1@30@@oe@2-2-2013
22341002@unknown@formal@none@1@S@For the third consecutive quarter, however, most of the companies' revenues were battered by adverse foreign-currency translations as a result of the strong dollar abroad.@@@@1@25@@oe@2-2-2013
22341003@unknown@formal@none@1@S@Analysts said that Merck & Co., Eli Lilly & Co., Warner-Lambert Co. and the Squibb Corp. unit of Bristol-Myers Squibb Co. all benefited from strong sales of relatively new, higher-priced medicines that provide wide profit margins.@@@@1@36@@oe@2-2-2013
22341004@unknown@formal@none@1@S@Less robust earnings at Pfizer Inc. and Upjohn Co. were attributed to those companies' older products, many of which face stiffening competition from generic drugs and other medicines.@@@@1@28@@oe@2-2-2013
22341005@unknown@formal@none@1@S@Joseph Riccardo, an analyst with Bear, Stearns & Co., said that over the past few years most drug makers have shed their slow-growing businesses and instituted other cost savings, such as consolidating manufacturing plants and administrative staffs.@@@@1@37@@oe@2-2-2013
22341006@unknown@formal@none@1@S@As a result, "major new products are having significant impact, even on a company with very large revenues," Mr. Riccardo said.@@@@1@21@@oe@2-2-2013
22341007@unknown@formal@none@1@S@Analysts said profit for the dozen or so big drug makers, as a group, is estimated to have climbed between 11% and 14%.@@@@1@23@@oe@2-2-2013
22341008@unknown@formal@none@1@S@While that's not spectacular, Neil Sweig, an analyst with Prudential Bache, said that the rate of growth will "look especially good as compared to other companies if the economy turns downward."@@@@1@31@@oe@2-2-2013
22341009@unknown@formal@none@1@S@Mr. Sweig estimated that Merck's profit for the quarter rose by about 22%, propelled by sales of its line-up of fast-growing prescription drugs, including its anti-cholesterol drug, Mevacor; a high blood pressure medicine, Vasotec; Primaxin, an antibiotic, and Pepcid, an anti-ulcer medication.@@@@1@42@@oe@2-2-2013
22341010@unknown@formal@none@1@S@Profit climbed even though Merck's sales were reduced by "one to three percentage points" as a result of the strong dollar, Mr. Sweig said.@@@@1@24@@oe@2-2-2013
22341011@unknown@formal@none@1@S@In the third quarter of 1988, Merck earned $311.8 million, or 79 cents a share.@@@@1@15@@oe@2-2-2013
22341012@unknown@formal@none@1@S@In Rahway, N.J., a Merck spokesman said the company doesn't make earnings projections.@@@@1@13@@oe@2-2-2013
22341013@unknown@formal@none@1@S@Mr. Sweig said he estimated that Lilly's earnings for the quarter jumped about 20%, largely because of the performance of its new anti-depressant Prozac.@@@@1@24@@oe@2-2-2013
22341014@unknown@formal@none@1@S@The drug, introduced last year, is expected to generate sales of about $300 million this year.@@@@1@16@@oe@2-2-2013
22341015@unknown@formal@none@1@S@"It's turning out to be a real blockbuster," Mr. Sweig said.@@@@1@11@@oe@2-2-2013
22341016@unknown@formal@none@1@S@In last year's third quarter, Lilly earned $171.4 million, or $1.20 a share.@@@@1@13@@oe@2-2-2013
22341017@unknown@formal@none@1@S@In Indianapolis, Lilly declined comment.@@@@1@5@@oe@2-2-2013
22341018@unknown@formal@none@1@S@Several analysts said they expected Warner-Lambert's profit also to increase by more than 20% from $87.7 million, or $1.25 a share, it reported in the like period last year.@@@@1@29@@oe@2-2-2013
22341019@unknown@formal@none@1@S@The company is praised by analysts for sharply lowering its costs in recent years and shedding numerous companies with low profit margins.@@@@1@22@@oe@2-2-2013
22341020@unknown@formal@none@1@S@The company's lean operation, analysts said, allowed sharp-rising sales from its cholesterol drug, Lopid, to power earnings growth.@@@@1@18@@oe@2-2-2013
22341021@unknown@formal@none@1@S@Lopid sales are expected to be about $300 million this year, up from $190 million in 1988.@@@@1@17@@oe@2-2-2013
22341022@unknown@formal@none@1@S@In Morris Plains, N.J., a spokesman for the company said the analysts' projections are "in the ballpark."@@@@1@17@@oe@2-2-2013
22341023@unknown@formal@none@1@S@Squibb's profit, estimated by analysts to be about 18% above the $123 million, or $1.25 a share, it earned in the third quarter of 1988, was the result of especially strong sales of its Capoten drug for treating high blood pressure and other heart disease.@@@@1@45@@oe@2-2-2013
22341024@unknown@formal@none@1@S@The company was officially merged with Bristol-Myers Co. earlier this month.@@@@1@11@@oe@2-2-2013
22341025@unknown@formal@none@1@S@Bristol-Myers declined to comment.@@@@1@4@@oe@2-2-2013
22341026@unknown@formal@none@1@S@Mr. Riccardo of Bear Stearns said that Schering-Plough Corp.'s expected profit rise of about 18% to 20%, and Bristol-Meyers's expected profit increase of about 13% are largely because "those companies are really managed well."@@@@1@34@@oe@2-2-2013
22341027@unknown@formal@none@1@S@ScheringPlough earned $94.4 million, or 84 cents a share, while Bristol-Myers earned $232.3 million, or 81 cents a share, in the like period a year earlier.@@@@1@26@@oe@2-2-2013
22341028@unknown@formal@none@1@S@In Madison, N.J., a spokesman for Schering-Plough said the company has "no problems" with the average estimate by a analysts that third-quarter earnings per share rose by about 19%, to $1.@@@@1@31@@oe@2-2-2013
22341029@unknown@formal@none@1@S@The company expects to achieve the 20% increase in full-year earnings per share, as it projected in the spring, the spokesman said.@@@@1@22@@oe@2-2-2013
22341030@unknown@formal@none@1@S@Meanwhile, analysts said Pfizer's recent string of lackluster quarterly performances continued, as earnings in the quarter were expected to decline by about 5%.@@@@1@23@@oe@2-2-2013
22341031@unknown@formal@none@1@S@Sales of Pfizer's important drugs, Feldene for treating arthritis, and Procardia, a heart medicine, have shrunk because of increased competition.@@@@1@20@@oe@2-2-2013
22341032@unknown@formal@none@1@S@"The (strong) dollar hurt Pfizer a lot, too," Mr. Sweig said.@@@@1@11@@oe@2-2-2013
22341033@unknown@formal@none@1@S@In the third quarter last year, Pfizer earned $216.8 million, or $1.29 a share.@@@@1@14@@oe@2-2-2013
22341034@unknown@formal@none@1@S@In New York, the company declined comment.@@@@1@7@@oe@2-2-2013
22341035@unknown@formal@none@1@S@Analysts said they expected Upjohn's profit to be flat or rise by only about 2% to 4% as compared with $89.6 million, or 49 cents a share, it earned a year ago.@@@@1@32@@oe@2-2-2013
22341036@unknown@formal@none@1@S@Upjohn's biggest-selling drugs are Xanax, a tranquilizer, and Halcion, a sedative.@@@@1@11@@oe@2-2-2013
22341037@unknown@formal@none@1@S@Sales of both drugs have been hurt by new state laws restricting the prescriptions of certain tranquilizing medicines and adverse publicity about the excessive use of the drugs.@@@@1@28@@oe@2-2-2013
22341038@unknown@formal@none@1@S@Also, the company's hair-growing drug, Rogaine, is selling well -- at about $125 million for the year, but the company's profit from the drug has been reduced by Upjohn's expensive print and television campaigns for advertising, analysts said.@@@@1@38@@oe@2-2-2013
22341039@unknown@formal@none@1@S@In Kalamazoo, Mich., Upjohn declined comment.@@@@1@6@@oe@2-2-2013
22342001@unknown@formal@none@1@S@Amid a crowd of crashing stocks, Relational Technology Inc.'s stock fell particularly hard Friday, dropping 23% because its problems were compounded by disclosure of an unexpected loss for its fiscal first quarter.@@@@1@32@@oe@2-2-2013
22342002@unknown@formal@none@1@S@The database software company said it expects a $2 million net loss for the fiscal first quarter ended Sept. 30.@@@@1@20@@oe@2-2-2013
22342003@unknown@formal@none@1@S@It said analysts had been expecting a small profit for the period.@@@@1@12@@oe@2-2-2013
22342004@unknown@formal@none@1@S@Revenue is expected to be "up modestly" from the $26.5 million reported a year ago.@@@@1@15@@oe@2-2-2013
22342005@unknown@formal@none@1@S@Relational Technology reported net income of $1.5 million, or 12 cents a share, in the year-earlier period.@@@@1@17@@oe@2-2-2013
22342006@unknown@formal@none@1@S@"While our international operations showed strong growth, our domestic business was substantially below expectations," said Paul Newton, president and chief executive officer.@@@@1@22@@oe@2-2-2013
22342007@unknown@formal@none@1@S@A spokesman said the company's first quarter is historically soft, and computer companies in general are experiencing slower sales.@@@@1@19@@oe@2-2-2013
22342008@unknown@formal@none@1@S@Mr. Newton said he accepted the resignation of Thomas Wilson, vice president of corporate sales, and that his marketing responsibilities have been reassigned.@@@@1@23@@oe@2-2-2013
22342009@unknown@formal@none@1@S@The company said Mr. Wilson's resignation wasn't related to the sales shortfall.@@@@1@12@@oe@2-2-2013
22342010@unknown@formal@none@1@S@Relational Technology went public in May 1988 at $14 a share.@@@@1@11@@oe@2-2-2013
22342011@unknown@formal@none@1@S@It fell $1.875 a share Friday, to $6.25, a new low, in over-the-counter trading.@@@@1@14@@oe@2-2-2013
22342012@unknown@formal@none@1@S@Its high for the past year was $16.375 a share.@@@@1@10@@oe@2-2-2013
22342013@unknown@formal@none@1@S@In the previous quarter, the company earned $4.5 million, or 37 cents a share, on sales of $47.2 million.@@@@1@19@@oe@2-2-2013
22343001@unknown@formal@none@1@S@The Bronx has a wonderful botanical garden, a great zoo, its own charming Little Italy (on Arthur Avenue) and, of course, the Yankees.@@@@1@23@@oe@2-2-2013
22343002@unknown@formal@none@1@S@However, most people, having been subjected to news footage of the devastated South Bronx, look at the borough the way Tom Wolfe's Sherman McCoy did in "Bonfire of the Vanities" -- as a wrong turn into hell.@@@@1@37@@oe@2-2-2013
22343003@unknown@formal@none@1@S@But Laura Cunningham's Bronx, her childhood Bronx of the '50s, is something else altogether.@@@@1@14@@oe@2-2-2013
22343004@unknown@formal@none@1@S@In a lovely, novelistic memoir, "Sleeping Arrangements" (Knopf, 195 pages, $18.95), she remembers an exotic playground, peopled mainly by Jewish eccentrics and the occasional Catholic (real oddballs like her sexpot friend, the hell-kitten Diana, age five).@@@@1@36@@oe@2-2-2013
22343005@unknown@formal@none@1@S@Ms. Cunningham, a novelist and playwright, has a vivid and dramatically outsized sense of recall.@@@@1@15@@oe@2-2-2013
22343006@unknown@formal@none@1@S@She transforms her "Bronx of the emotions, a place where the flats of mediocrity are only relieved by steep descents into hysteria" into the "Babylonian Bronx," a world simmering with sex and death and intrigue.@@@@1@35@@oe@2-2-2013
22343007@unknown@formal@none@1@S@In the Babylonian Bronx, Jewish working-class people lived in drab, Soviet-style buildings "glamorized" with names like AnaMor Towers (after owners Anna and Morris Snezak), whose lobbies and hallways were decorated with murals of ancient Syrians and Greeks, friezes of Pompeii.@@@@1@40@@oe@2-2-2013
22343008@unknown@formal@none@1@S@For Ms. Cunningham the architectural discombobulation matched the discrepancy she felt living in the AnaMor Towers as a little girl: ". . . outwardly ordinary, inwardly ornate, owing all inspiration to heathen cultures."@@@@1@33@@oe@2-2-2013
22343009@unknown@formal@none@1@S@Sharp-witted and funny but never mean, she's a memorialist a bit like Truman Capote, if he'd been Jewish and female and less bitchy.@@@@1@23@@oe@2-2-2013
22343010@unknown@formal@none@1@S@Little Lily, as Ms. Cunningham calls herself in the book, really wasn't ordinary.@@@@1@13@@oe@2-2-2013
22343011@unknown@formal@none@1@S@She was raised, for the first eight years, by her mother, Rosie, whom she remembers as a loving liar, who realigned history to explain why Lily's father didn't live with them.@@@@1@31@@oe@2-2-2013
22343012@unknown@formal@none@1@S@Rosie reinvented this man, who may or may not have known about his child, as a war hero for Lily's benefit.@@@@1@21@@oe@2-2-2013
22343013@unknown@formal@none@1@S@Rosie died young and Lily has remembered her as a romantic figure, who didn't interfere much with her child's education on the streets.@@@@1@23@@oe@2-2-2013
22343014@unknown@formal@none@1@S@The games Bronx children played (holding kids down and stripping them, for example) seem tame by today's crack standards, but Ms. Cunningham makes it all sound like a great adventure.@@@@1@30@@oe@2-2-2013
22343015@unknown@formal@none@1@S@"Without official knowledge of sex or death, we flirted with both," she writes.@@@@1@13@@oe@2-2-2013
22343016@unknown@formal@none@1@S@She analyzed families by their sleeping arrangements.@@@@1@7@@oe@2-2-2013
22343017@unknown@formal@none@1@S@Her friend Susan, whose parents kept reminding her she was unwanted, slept on a narrow bed wedged into her parents' bedroom, as though she were a temporary visitor.@@@@1@28@@oe@2-2-2013
22343018@unknown@formal@none@1@S@Her friend Diana's father was a professional thief; they didn't seem to have any bedrooms at all.@@@@1@17@@oe@2-2-2013
22343019@unknown@formal@none@1@S@Maybe Lily became so obsessed with where people slept and how because her own arrangements kept shifting.@@@@1@17@@oe@2-2-2013
22343020@unknown@formal@none@1@S@When Rosie died, her uncles moved in -- and let her make the sleeping and other household arrangements.@@@@1@18@@oe@2-2-2013
22343021@unknown@formal@none@1@S@They painted the apartment orange, pink and white, according to her instructions.@@@@1@12@@oe@2-2-2013
22343022@unknown@formal@none@1@S@With loving detail she recalls her Uncle Gabe, an Orthodox Jew and song lyricist (who rhymed river with liver in a love song); and Uncle Len, a mysterious part-time investigator who looked like Lincoln and carried a change of clothing in a Manila envelope, like an "undercover President on a good-will mission."@@@@1@52@@oe@2-2-2013
22343023@unknown@formal@none@1@S@They came by their strangeness honestly.@@@@1@6@@oe@2-2-2013
22343024@unknown@formal@none@1@S@Lily's grandmother, no cookie baker, excised the heads of disliked relatives from the family album, and lugged around her perennial work-in-progress, "Philosophy for Women."@@@@1@24@@oe@2-2-2013
22343025@unknown@formal@none@1@S@The book loses some momentum toward the end, when Lily becomes more preoccupied with dating boys and less with her delightfully weird family.@@@@1@23@@oe@2-2-2013
22343026@unknown@formal@none@1@S@For the most part, though, there's much pleasure in her saucy, poignant probe into the mysteries of the Babylonian Bronx.@@@@1@20@@oe@2-2-2013
22343027@unknown@formal@none@1@S@The Bronx also figures in Bruce Jay Friedman's latest novel, which flashes back to the New York of the '50s.@@@@1@20@@oe@2-2-2013
22343028@unknown@formal@none@1@S@But both the past and present worlds of "The Current Climate" (Atlantic Monthly Press, 200 pages, $18.95) feel cramped and static.@@@@1@21@@oe@2-2-2013
22343029@unknown@formal@none@1@S@For his sixth novel, Mr. Friedman tried to resuscitate the protagonist of his 1972 work, "About Harry Towns."@@@@1@18@@oe@2-2-2013
22343030@unknown@formal@none@1@S@Harry is now a 57-year-old writer, whose continuing flirtation with drugs and marginal types in Hollywood and New York seems quaintly out-of-synch.@@@@1@22@@oe@2-2-2013
22343031@unknown@formal@none@1@S@Harry fondly remembers the "old" days of the early '70s, when people like his friend Travis would take a psychiatrist on a date to analyze what Travis was doing wrong.@@@@1@30@@oe@2-2-2013
22343032@unknown@formal@none@1@S@"An L.A. solution," explains Mr. Friedman.@@@@1@6@@oe@2-2-2013
22343033@unknown@formal@none@1@S@Line by line Mr. Friedman's weary cynicism can be amusing, especially when he's riffing on the Hollywood social scheme -- the way people size each other up, immediately canceling the desperate ones who merely almost made it.@@@@1@37@@oe@2-2-2013
22343034@unknown@formal@none@1@S@Harry has avoided all that by living in a Long Island suburb with his wife, who's so addicted to soap operas and mystery novels she barely seems to notice when her husband disappears for drug-seeking forays into Manhattan.@@@@1@38@@oe@2-2-2013
22343035@unknown@formal@none@1@S@But it doesn't take too many lines to figure Harry out.@@@@1@11@@oe@2-2-2013
22343036@unknown@formal@none@1@S@He's a bore.@@@@1@3@@oe@2-2-2013
22344001@unknown@formal@none@1@S@Gulf Resources & Chemical Corp. said it agreed to pay $1.5 million as part of an accord with the Environmental Protection Agency regarding an environmental cleanup of a defunct smelter the company formerly operated in Idaho.@@@@1@36@@oe@2-2-2013
22344002@unknown@formal@none@1@S@In 1984 the EPA notified Gulf Resources, which was a part-owner of the smelter, that it was potentially liable for sharing cleanup costs at the site under the federal Superfund program.@@@@1@31@@oe@2-2-2013
22344003@unknown@formal@none@1@S@The 21-square-mile area is contaminated with lead, zinc and other metals.@@@@1@11@@oe@2-2-2013
22344004@unknown@formal@none@1@S@Gulf Resources earlier this year proposed a reorganization plan that would make it a unit of a Bermuda concern, potentially exempting it from liability for the smelter's cleanup costs.@@@@1@29@@oe@2-2-2013
22344005@unknown@formal@none@1@S@The company said that as part of its agreement with the EPA, it "made certain voluntary undertakings with respect to intercorporate transactions entered into after the reorganization."@@@@1@27@@oe@2-2-2013
22344006@unknown@formal@none@1@S@The company, which issued a statement on the agreement late Friday, said that $1 million of the payment was previously provided for in its financial statements and that $500,000 will be recognized in its 1989 third-quarter statement.@@@@1@37@@oe@2-2-2013
22344007@unknown@formal@none@1@S@The agreement and consent decree are subject to court approval, the company said.@@@@1@13@@oe@2-2-2013
22344008@unknown@formal@none@1@S@Gulf Resources added that it "will seek to recover equitable contribution from others for both the amount of the settlement and any other liabilities it may incur under the Superfund law."@@@@1@31@@oe@2-2-2013
22344009@unknown@formal@none@1@S@Under the agreement, Gulf must give the U.S. government 45 days' advance written notice before issuing any dividends on common stock.@@@@1@21@@oe@2-2-2013
22344010@unknown@formal@none@1@S@The company's net worth cannot fall below $185 million after the dividends are issued.@@@@1@14@@oe@2-2-2013
22344011@unknown@formal@none@1@S@"The terms of that agreement only become effective the date of Gulf's reorganization, which we anticipate will occur sometime in early 1990," said Lawrence R. Mehl, Gulf's general counsel.@@@@1@29@@oe@2-2-2013
22344012@unknown@formal@none@1@S@In addition, Gulf must give the government 20 days' advance written notice of any loans exceeding $50 million that are made to the Bermuda-based holding company.@@@@1@26@@oe@2-2-2013
22344013@unknown@formal@none@1@S@Gulf's net worth after those transaction must be at least $150 million.@@@@1@12@@oe@2-2-2013
22344014@unknown@formal@none@1@S@Separately, the company said it expects to hold a special meeting for shareholders in early 1990 to vote on its proposed reorganization.@@@@1@22@@oe@2-2-2013
22345001@unknown@formal@none@1@S@Many of the nation's highest-ranking executives saluted Friday's market plunge as an overdue comeuppance for speculators and takeover players.@@@@1@19@@oe@2-2-2013
22345002@unknown@formal@none@1@S@Assuming that the market doesn't head into a bottomless free fall, some executives think Friday's action could prove a harbinger of good news -- as a sign that the leveraged buy-out and takeover frenzy of recent years may be abating.@@@@1@40@@oe@2-2-2013
22345003@unknown@formal@none@1@S@"This is a reaction to artificial LBO valuations, rather than to any fundamentals," said John Young, chairman of Hewlett-Packard Co., whose shares dropped $3.125 to $48.125.@@@@1@26@@oe@2-2-2013
22345004@unknown@formal@none@1@S@"If we get rid of a lot of that nonsense, it will be a big plus."@@@@1@16@@oe@2-2-2013
22345005@unknown@formal@none@1@S@A few of the executives here for the fall meeting of the Business Council, a group that meets to discuss national issues, were only too happy to personalize their criticism.@@@@1@30@@oe@2-2-2013
22345006@unknown@formal@none@1@S@"People wish the government would do something about leveraged buy-outs, do something about takeovers, do something about Donald Trump," said Rand Araskog, chairman of ITT Corp., whose stock dropped $3.375.@@@@1@30@@oe@2-2-2013
22345007@unknown@formal@none@1@S@"Where's the leadership?@@@@1@3@@oe@2-2-2013
22345008@unknown@formal@none@1@S@Where's the guy who can say: `Enough is enough'"?@@@@1@9@@oe@2-2-2013
22345009@unknown@formal@none@1@S@The executives were remarkably unperturbed by the plunge even though it lopped billions of dollars off the value of their companies -- and millions off their personal fortunes.@@@@1@28@@oe@2-2-2013
22345010@unknown@formal@none@1@S@"I'm not going to worry about one day's decline," said Kenneth Olsen, Digital Equipment Corp. president, who was leisurely strolling through the bright orange and yellow leaves of the mountains here after his company's shares plunged $5.75 to close at $86.50.@@@@1@41@@oe@2-2-2013
22345011@unknown@formal@none@1@S@"I didn't bother calling anybody; I didn't even turn on TV."@@@@1@11@@oe@2-2-2013
22345012@unknown@formal@none@1@S@"There hasn't been any fundamental change in the economy," added John Smale, whose Procter & Gamble Co. took an $8.75 slide to close at $120.75.@@@@1@25@@oe@2-2-2013
22345013@unknown@formal@none@1@S@"The fact that this happened two years ago and there was a recovery gives people some comfort that this won't be a problem."@@@@1@23@@oe@2-2-2013
22345014@unknown@formal@none@1@S@Of course, established corporate managements often tend to applaud the setbacks of stock speculators and takeover artists.@@@@1@17@@oe@2-2-2013
22345015@unknown@formal@none@1@S@Indeed, one chief executive who was downright delighted by Friday's events was Robert Crandall, chairman of AMR Corp., the parent of American Airlines and the target of a takeover offer by Mr. Trump.@@@@1@33@@oe@2-2-2013
22345016@unknown@formal@none@1@S@Asked whether Friday's action could help him avoid being Trumped by the New York real estate magnate, Mr. Crandall smiled broadly and said: "No comment."@@@@1@25@@oe@2-2-2013
22345017@unknown@formal@none@1@S@On Friday morning, before the market's sell-off, the business leaders issued a report predicting the economy would grow at roughly an inflation-adjusted 2% annual rate, through next year, then accelerate anew in 1991.@@@@1@33@@oe@2-2-2013
22345018@unknown@formal@none@1@S@Of the 19 economists who worked on the Business Council forecast, only two projected periods of decline in the nation's output over the next two years, and in "both instances the declines are too modest to warrant the phrase recession," said Lewis Preston, chairman of J.P. Morgan & Co. and vice chairman of the Business Council.@@@@1@56@@oe@2-2-2013
22346001@unknown@formal@none@1@S@The real estate slump that's pushing down the price of New York office space and housing is also affecting the city's retail real estate market.@@@@1@25@@oe@2-2-2013
22346002@unknown@formal@none@1@S@In Manhattan, once-desirable store sites sit vacant and newly constructed space has been slow to fill.@@@@1@16@@oe@2-2-2013
22346003@unknown@formal@none@1@S@Retail real estate brokers say tenants are reluctant to sign leases because of uncertainty about the local economy, turmoil in their own industries and a belief that rents have not yet hit bottom.@@@@1@33@@oe@2-2-2013
22346004@unknown@formal@none@1@S@"There is an unbelievable amount of space available," says Faith Consolo, senior vice president at Garrick-Aug Associates Store Leasing Inc.@@@@1@20@@oe@2-2-2013
22346005@unknown@formal@none@1@S@There are about 2,000 stores for rent, up from a more typical range of 1,200 to 1,500.@@@@1@17@@oe@2-2-2013
22346006@unknown@formal@none@1@S@"This further confuses retailers," she says.@@@@1@6@@oe@2-2-2013
22346007@unknown@formal@none@1@S@"They wonder should they sign a lease if prices are still coming down?@@@@1@13@@oe@2-2-2013
22346008@unknown@formal@none@1@S@Is this the wrong time to open a store?@@@@1@9@@oe@2-2-2013
22346009@unknown@formal@none@1@S@Who is going to be in the space next door?"@@@@1@10@@oe@2-2-2013
22346010@unknown@formal@none@1@S@In addition, Ms. Consolo says, tenants usually can negotiate to pay rents that are about one-quarter lower than landlords' initial asking price.@@@@1@22@@oe@2-2-2013
22346011@unknown@formal@none@1@S@A handful of hot retail locations, such as the 57th Street and Madison and Fifth Avenue areas, have been able to sustain what many see as astronomical rents.@@@@1@28@@oe@2-2-2013
22346012@unknown@formal@none@1@S@And, in some neighborhoods, rents have merely hit a plateau.@@@@1@10@@oe@2-2-2013
22346013@unknown@formal@none@1@S@But on average, Manhattan retail rents have dropped 10% to 15% in the past six months alone, experts say.@@@@1@19@@oe@2-2-2013
22346014@unknown@formal@none@1@S@That follows a more subtle decline in the prior six months, after Manhattan rents had run up rapidly since 1986.@@@@1@20@@oe@2-2-2013
22346015@unknown@formal@none@1@S@The same factors limiting demand for office space have affected retailing.@@@@1@11@@oe@2-2-2013
22346016@unknown@formal@none@1@S@"As businesses contract or depart, the number of employees who might use retail services shrinks," says Edward A. Friedman, senior vice president of Helmsley Spear Inc.@@@@1@26@@oe@2-2-2013
22346017@unknown@formal@none@1@S@He says financial problems plaguing electronics, fur and furniture companies -- key categories in the local retail economy -- have further deflated the market.@@@@1@24@@oe@2-2-2013
22346018@unknown@formal@none@1@S@Hardest hit are what he calls "secondary" sites that primarily serve neighborhood residents.@@@@1@13@@oe@2-2-2013
22346019@unknown@formal@none@1@S@In these locations, Mr. Friedman says, "Retailers are increasingly cautious about expanding and rents have remained steady or in some cases have declined."@@@@1@23@@oe@2-2-2013
22346020@unknown@formal@none@1@S@Weakness in the restaurant industry, which is leaving retail space vacant, exacerbates the problem for landlords.@@@@1@16@@oe@2-2-2013
22346021@unknown@formal@none@1@S@It is also no comfort to landlords and small New York retailers when the future of larger department stores, which anchor retail neighborhoods, are in doubt.@@@@1@26@@oe@2-2-2013
22346022@unknown@formal@none@1@S@Hooker Corp., parent of Bonwit Teller and B. Altman's, is mired in bankruptcy proceedings and Bloomingdale's is for sale by its owner, Campeau Corp.@@@@1@24@@oe@2-2-2013
22346023@unknown@formal@none@1@S@The trend toward lower rents may seem surprising given that some communities in New York are bemoaning the loss of favorite local businesses to high rents.@@@@1@26@@oe@2-2-2013
22346024@unknown@formal@none@1@S@But, despite the recent softening, for many of these retailers there's still been too big a jump from the rental rates of the late 1970s, when their leases were signed.@@@@1@30@@oe@2-2-2013
22346025@unknown@formal@none@1@S@Certainly, the recent drop in prices doesn't mean Manhattan comes cheap.@@@@1@11@@oe@2-2-2013
22346026@unknown@formal@none@1@S@New York retail rents still run well above the going rate in other U.S. cities.@@@@1@15@@oe@2-2-2013
22346027@unknown@formal@none@1@S@Madison and Fifth Avenues and East 57th Street can command rents of up to $500 a square foot, and $250 is not uncommon.@@@@1@23@@oe@2-2-2013
22346028@unknown@formal@none@1@S@The thriving 34th Street area offers rents of about $100 a square foot, as do up-and-coming locations along lower Fifth Avenue.@@@@1@21@@oe@2-2-2013
22346029@unknown@formal@none@1@S@By contrast, rentals in the best retail locations in Boston, San Francisco and Chicago rarely top $100 a square foot.@@@@1@20@@oe@2-2-2013
22346030@unknown@formal@none@1@S@And rents on Beverly Hills' Rodeo Drive generally don't exceed about $125 a square foot.@@@@1@15@@oe@2-2-2013
22346031@unknown@formal@none@1@S@The New York Stock Exchange said two securities will begin trading this week.@@@@1@13@@oe@2-2-2013
22346032@unknown@formal@none@1@S@Precision Castparts Corp., Portland, Ore., will begin trading with the symbol PCP.@@@@1@12@@oe@2-2-2013
22346033@unknown@formal@none@1@S@It makes investment castings and has traded over-the-counter.@@@@1@8@@oe@2-2-2013
22346034@unknown@formal@none@1@S@Royal Bank of Scotland Group PLC, an Edinburgh, Scotland, financial services company, will list American depositary shares, representing preferred shares, with the symbol RBSPr.@@@@1@24@@oe@2-2-2013
22346035@unknown@formal@none@1@S@It will continue to trade on the International Stock Exchange, London.@@@@1@11@@oe@2-2-2013
22346036@unknown@formal@none@1@S@The American Stock Exchange listed shares of two companies.@@@@1@9@@oe@2-2-2013
22346037@unknown@formal@none@1@S@AIM Telephones Inc., a Parsippany, N.J., telecommunications equipment supply company, started trading with the symbol AIM.@@@@1@16@@oe@2-2-2013
22346038@unknown@formal@none@1@S@It had traded over-the-counter.@@@@1@4@@oe@2-2-2013
22346039@unknown@formal@none@1@S@Columbia Laboratories Inc., Miami, began trading with the symbol COB.@@@@1@10@@oe@2-2-2013
22346040@unknown@formal@none@1@S@The pharmaceuticals maker had traded over-the-counter.@@@@1@6@@oe@2-2-2013
22346041@unknown@formal@none@1@S@The National Market System of the Nasdaq over-the-counter market listed shares of one company.@@@@1@14@@oe@2-2-2013
22346042@unknown@formal@none@1@S@Employee Benefit Plans Inc., a Minneapolis health-care services company, was listed with the symbol EBPI.@@@@1@15@@oe@2-2-2013
22347001@unknown@formal@none@1@S@When Justice William Brennan marks the start of his 34th year on the Supreme Court today, the occasion will differ sharply from previous anniversaries of his tenure.@@@@1@27@@oe@2-2-2013
22347002@unknown@formal@none@1@S@For the first time, the 83-year-old justice finds his influence almost exclusively in dissent, rather than as a force in the high court's majority.@@@@1@24@@oe@2-2-2013
22347003@unknown@formal@none@1@S@This role reversal holds true, as well, for his three liberal and moderate allies, Justices Thurgood Marshall, Harry Blackmun and John Stevens.@@@@1@22@@oe@2-2-2013
22347004@unknown@formal@none@1@S@But are these four players, three of them in their 80s, ready to assume a different role after 88 years, collectively, of service on the high court?@@@@1@27@@oe@2-2-2013
22347005@unknown@formal@none@1@S@Every indication is that the four are prepared to accept this new role, and the frustrations that go with it, but in different ways.@@@@1@24@@oe@2-2-2013
22347006@unknown@formal@none@1@S@Justices Brennan and Stevens appear philosophical about it; Justices Marshall and Blackmun appear fighting mad.@@@@1@15@@oe@2-2-2013
22347007@unknown@formal@none@1@S@The four justices are no newcomers to dissent, often joining forces in the past decade to criticize the court's conservative drift.@@@@1@21@@oe@2-2-2013
22347008@unknown@formal@none@1@S@But always, in years past, they have bucked the trend and have been able to pick up a fifth vote to eke out a number of major victories in civil rights and liberties cases.@@@@1@34@@oe@2-2-2013
22347009@unknown@formal@none@1@S@Now, however, as the court's new five-member conservative majority continues to solidify, victories for the liberals are rare.@@@@1@18@@oe@2-2-2013
22347010@unknown@formal@none@1@S@The change is most dramatic for Justice Brennan, the last survivor of the mid-1960s liberal majority under Chief Justice Earl Warren.@@@@1@21@@oe@2-2-2013
22347011@unknown@formal@none@1@S@In the seven Supreme Court terms from the fall of 1962 through the spring of 1967, the height of the Warren Court's power, Justice Brennan cast only 25 dissenting votes in 555 cases decided by the court.@@@@1@37@@oe@2-2-2013
22347012@unknown@formal@none@1@S@Last term alone he cast 52 dissenting votes in 133 decisions, with the contentious flag-burning ruling as his only big victory.@@@@1@21@@oe@2-2-2013
22347013@unknown@formal@none@1@S@But Justice Brennan foresaw his new role, strongly defending the importance of dissents in a 1985 speech.@@@@1@17@@oe@2-2-2013
22347014@unknown@formal@none@1@S@"Each time the court revisits an issue, the justices will be forced by a dissent to reconsider the fundamental questions and to rethink the result," he said.@@@@1@27@@oe@2-2-2013
22347015@unknown@formal@none@1@S@Moreover, in recent months he has said that when he was on the winning side in the 1960s, he knew that the tables might turn in the future.@@@@1@28@@oe@2-2-2013
22347016@unknown@formal@none@1@S@He has said that he now knows how Justice John Harlan felt, a reference to the late conservative justice who was the most frequent dissenter from the Warren Court's opinions.@@@@1@30@@oe@2-2-2013
22347017@unknown@formal@none@1@S@Associates of 81-year-old Justice Marshall say he was "depressed" about the court's direction last spring, but is feisty about his role and determined to speak out against the court's cutbacks in civil rights.@@@@1@33@@oe@2-2-2013
22347018@unknown@formal@none@1@S@"We could sweep it under the rug and hide it, but I'm not going to do it," he said in a speech last month.@@@@1@24@@oe@2-2-2013
22347019@unknown@formal@none@1@S@He, like Justice Brennan, considers dissents highly important for the future, a point that hasn't escaped legal scholars.@@@@1@18@@oe@2-2-2013
22347020@unknown@formal@none@1@S@Harvard Law School Professor Laurence Tribe says there is a "generation-skipping" flavor to current dissents.@@@@1@15@@oe@2-2-2013
22347021@unknown@formal@none@1@S@The dissenters in the Warren Court, he says, appeared to be writing for the short-term, suggesting that the court's direction might change soon.@@@@1@23@@oe@2-2-2013
22347022@unknown@formal@none@1@S@"Brennan and Marshall are speaking in their dissents to a more distant future," he says.@@@@1@15@@oe@2-2-2013
22347023@unknown@formal@none@1@S@Justice Blackmun, who will turn 81 next month, also seems feisty about his new role.@@@@1@15@@oe@2-2-2013
22347024@unknown@formal@none@1@S@Associates say he takes some defeats more personally than his colleagues, especially attempts to curtail the right to abortion first recognized in his 1973 opinion, Roe vs. Wade.@@@@1@28@@oe@2-2-2013
22347025@unknown@formal@none@1@S@Friends and associates who saw Justice Blackmun during the summer said he was no more discouraged about the court than in recent years.@@@@1@23@@oe@2-2-2013
22347026@unknown@formal@none@1@S@And his outlook improved after successful cataract surgery in August.@@@@1@10@@oe@2-2-2013
22347027@unknown@formal@none@1@S@But his level of frustration showed in a recent, impassioned speech to a group of hundreds of lawyers in Chicago.@@@@1@20@@oe@2-2-2013
22347028@unknown@formal@none@1@S@He concluded his remarks by quoting, emotionally and at some length, according to those present, the late Martin Luther King's famous "I Have a Dream" speech from the 1963 March on Washington.@@@@1@32@@oe@2-2-2013
22347029@unknown@formal@none@1@S@Justice Stevens, 69, is probably the most philosophical of the dissenters about his role, in part because he may be the least liberal of the four, but also because he enjoys the intellectual challenge of arguing with the majority more than the others.@@@@1@43@@oe@2-2-2013
22347030@unknown@formal@none@1@S@If the role these four dissenters are assuming is a familiar one in modern Supreme Court history, it also differs in an important way from recent history, court watchers say.@@@@1@30@@oe@2-2-2013
22347031@unknown@formal@none@1@S@"The dissenters of the Warren Court were often defending a legal legacy that they inherited," says Prof. A.E. Dick Howard of the University of Virginia Law School, "but the dissenters today are defending a legacy that they created.@@@@1@38@@oe@2-2-2013
22348001@unknown@formal@none@1@S@The government sold the deposits of four savings-and-loan institutions, in its first wave of sales of big, sick thrifts, but low bids prevented the sale of a fifth.@@@@1@28@@oe@2-2-2013
22348002@unknown@formal@none@1@S@The four S&Ls were sold to large banks, as was the case with most of the 28 previous transactions initiated by the Resolution Trust Corp. since it was created in the S&L bailout legislation two months ago.@@@@1@37@@oe@2-2-2013
22348003@unknown@formal@none@1@S@Two of the four big thrifts were sold to NCNB Corp., Charlotte, N.C., which has aggressively expanded its markets, particularly in Texas and Florida.@@@@1@24@@oe@2-2-2013
22348004@unknown@formal@none@1@S@A Canadian bank bought another thrift, in the first RTC transaction with a foreign bank.@@@@1@15@@oe@2-2-2013
22348005@unknown@formal@none@1@S@Under these deals, the RTC sells just the deposits and the healthy assets.@@@@1@13@@oe@2-2-2013
22348006@unknown@formal@none@1@S@These "clean-bank" transactions leave the bulk of bad assets, mostly real estate, with the government, to be sold later.@@@@1@19@@oe@2-2-2013
22348007@unknown@formal@none@1@S@In these four, for instance, the RTC is stuck with $4.51 billion in bad assets.@@@@1@15@@oe@2-2-2013
22348008@unknown@formal@none@1@S@Acquirers paid premiums ranging from 1.5% to 3.7% for the deposits and branch systems, roughly in line with what analysts were expecting.@@@@1@22@@oe@2-2-2013
22348009@unknown@formal@none@1@S@The buyers will also be locked into deposit rates for just two weeks, as has been the case with previous deals.@@@@1@21@@oe@2-2-2013
22348010@unknown@formal@none@1@S@After that, the buyers may repudiate the rates paid by the former thrifts.@@@@1@13@@oe@2-2-2013
22348011@unknown@formal@none@1@S@But it's uncertain whether these institutions will take those steps.@@@@1@10@@oe@2-2-2013
22348012@unknown@formal@none@1@S@NCNB, for example, has been one of the highest rate payers in the Texas market, and in Florida, rates are especially sensitive in retirement communities.@@@@1@25@@oe@2-2-2013
22348013@unknown@formal@none@1@S@The RTC had previously targeted five thrifts for quick sales in order to spend cash by certain budgetary deadlines, but the delays illustrate the tough chore facing the agency.@@@@1@29@@oe@2-2-2013
22348014@unknown@formal@none@1@S@"These thrifts are beached whales," said Bert Ely, an industry consultant based in Alexandria, Va.@@@@1@15@@oe@2-2-2013
22348015@unknown@formal@none@1@S@For example, the delay in selling People's Heritage Savings, Salina, Kan., with $1.7 billion in assets, has forced the RTC to consider selling off the thrift branch-by-branch, instead of as a whole institution.@@@@1@33@@oe@2-2-2013
22348016@unknown@formal@none@1@S@NCNB continued its foray into the Florida and Texas markets.@@@@1@10@@oe@2-2-2013
22348017@unknown@formal@none@1@S@NCNB will acquire University Federal Savings Association, Houston, which had assets of $2.8 billion.@@@@1@14@@oe@2-2-2013
22348018@unknown@formal@none@1@S@NCNB Texas National Bank will pay the RTC a premium of $129 million for $3.5 billion in deposits.@@@@1@18@@oe@2-2-2013
22348019@unknown@formal@none@1@S@As a measure of the depths to which the Texas real estate market has sunk, the RTC will pay $3.8 billion to NCNB to take $750 million of bad assets.@@@@1@30@@oe@2-2-2013
22348020@unknown@formal@none@1@S@NCNB also acquired Freedom Savings & Loan Association, Tampa, Fla., which had total assets of $900 million.@@@@1@17@@oe@2-2-2013
22348021@unknown@formal@none@1@S@NCNB will pay the RTC a premium of $40.4 million for $1.1 billion in deposits.@@@@1@15@@oe@2-2-2013
22348022@unknown@formal@none@1@S@NCNB will also acquire $266 million of Freedom's assets from the RTC, which will require $875 million in assistance.@@@@1@19@@oe@2-2-2013
22348023@unknown@formal@none@1@S@Meridian Bancorp Inc., Reading, Pa., will acquire Hill Financial Savings Association, Red Hill, Pa., which had $2.3 billion in assets.@@@@1@20@@oe@2-2-2013
22348024@unknown@formal@none@1@S@Meridian will pay a premium of $30.5 million to assume $2 billion in deposits.@@@@1@14@@oe@2-2-2013
22348025@unknown@formal@none@1@S@It will also purchase $845 million of the thrift's assets, with $1.9 billion in RTC assistance.@@@@1@16@@oe@2-2-2013
22348026@unknown@formal@none@1@S@In the first RTC transaction with a foreign buyer, Royal Trustco Ltd., Toronto, will acquire Pacific Savings Bank, Costa Mesa, Calif., which had $949 million in assets.@@@@1@27@@oe@2-2-2013
22348027@unknown@formal@none@1@S@Royal Trustco will pay the RTC $25 million to assume $989 million in deposits.@@@@1@14@@oe@2-2-2013
22348028@unknown@formal@none@1@S@It will also purchase $473 million in assets, and receive $550 million in assistance from the RTC.@@@@1@17@@oe@2-2-2013
22349001@unknown@formal@none@1@S@The following issues were recently filed with the Securities and Exchange Commission:@@@@1@12@@oe@2-2-2013
22349002@unknown@formal@none@1@S@American Cyanamid Co., offering of 1,250,000 common shares, via Merrill Lynch Capital Markets.@@@@1@13@@oe@2-2-2013
22349003@unknown@formal@none@1@S@Limited Inc., offering of up to $300 million of debt securities and warrants.@@@@1@13@@oe@2-2-2013
22349004@unknown@formal@none@1@S@Nuveen California Performance Plus Municipal Fund Inc., initial offering of five million common shares, via Alex. Brown & Sons Inc., John Nuveen & Co., Prudential-Bache Capital Funding, and Bateman Eichler, Hill Richards.@@@@1@32@@oe@2-2-2013
22349005@unknown@formal@none@1@S@PacifiCare Health Systems Inc., proposed offering of 1.5 million common shares, of which 700,000 shares will be offered by PacifiCare and 800,000 shares by UniHealth America Inc.(PacifiCare's 71%), via Dillon, Read & Co. Inc., Goldman, Sachs & Co. and Dean Witter Reynolds Inc.@@@@1@43@@oe@2-2-2013
22349006@unknown@formal@none@1@S@Pricor Inc., offering of one million new shares of common stock and 300,000 shares by holders, via Drexel Burnham Lambert Inc. and J.C. Bradford & Co.@@@@1@26@@oe@2-2-2013
22349007@unknown@formal@none@1@S@Trans World Airlines Inc., offering of $150 million senior notes, via Drexel Burnham.@@@@1@13@@oe@2-2-2013
22350001@unknown@formal@none@1@S@Time magazine, in a move to reduce the costs of wooing new subscribers, is lowering its circulation guarantee to advertisers for the second consecutive year, increasing its subscription rates and cutting back on merchandise giveaways.@@@@1@35@@oe@2-2-2013
22350002@unknown@formal@none@1@S@In an announcement to its staff last week, executives at Time Warner Inc.'s weekly magazine said Time will "dramatically de-emphasize" its use of electronic giveaways such as telephones in television subscription drives; cut the circulation it guarantees advertisers by 300,000, to four million; and increase the cost of its annual subscription rate by about $4 to $55.@@@@1@57@@oe@2-2-2013
22350003@unknown@formal@none@1@S@In a related development, the news-weekly, for the fourth year in a row, said it won't increase its advertising rates in 1990; a full, four-color page in the magazine costs about $120,000.@@@@1@32@@oe@2-2-2013
22350004@unknown@formal@none@1@S@However, because the guaranteed circulation base is being lowered, ad rates will be effectively 7.5% higher per subscriber, according to Richard Heinemann, Time associate publisher.@@@@1@25@@oe@2-2-2013
22350005@unknown@formal@none@1@S@Time is following the course of some other mass-circulation magazines that in recent years have challenged the publishing myth that maintaining artificially high, and expensive, circulations is the way to draw advertisers.@@@@1@32@@oe@2-2-2013
22350006@unknown@formal@none@1@S@In recent years, Reader's Digest, New York Times Co.'s McCall's, and most recently News Corp.'s TV Guide, have cut their massive circulation rate bases to eliminate marginal circulation and hold down rates for advertisers.@@@@1@34@@oe@2-2-2013
22350007@unknown@formal@none@1@S@Deep discounts in subscriptions and offers of free clock radios and watches have become accepted forms of attracting new subscribers in the hyper-competitive world of magazine news-weeklies.@@@@1@27@@oe@2-2-2013
22350008@unknown@formal@none@1@S@But Time, as part of the more cost-conscious Time Warner, wants to wean itself away from expensive gimmicks.@@@@1@18@@oe@2-2-2013
22350009@unknown@formal@none@1@S@Besides, Time executives think selling a news magazine with a clock radio is tacky.@@@@1@14@@oe@2-2-2013
22350010@unknown@formal@none@1@S@"Giveaways just give people the wrong image," said Mr. Heinemann.@@@@1@10@@oe@2-2-2013
22350011@unknown@formal@none@1@S@"That perception takes the focus off the magazine."@@@@1@8@@oe@2-2-2013
22350012@unknown@formal@none@1@S@Time magazine executives predictably paint the circulation cut as a show of strength and actually a benefit to advertisers.@@@@1@19@@oe@2-2-2013
22350013@unknown@formal@none@1@S@"What we are doing is screening out the readers who are only casually related to the magazine and don't really read it," said Mr. Heinemann.@@@@1@25@@oe@2-2-2013
22350014@unknown@formal@none@1@S@"We are trying to create quality and involvement."@@@@1@8@@oe@2-2-2013
22350015@unknown@formal@none@1@S@However, Time executives used the same explanation when in October 1988 the magazine cut its guaranteed circulation from 4.6 million to 4.3 million.@@@@1@23@@oe@2-2-2013
22350016@unknown@formal@none@1@S@And Time's paid circulation, according to Audit Bureau of Circulations, dropped 7.3% to 4,393,237 in the six months ended June 30, 1989.@@@@1@22@@oe@2-2-2013
22350017@unknown@formal@none@1@S@Still, Time's move is being received well, once again.@@@@1@9@@oe@2-2-2013
22350018@unknown@formal@none@1@S@"It's terrific for advertisers to know the reader will be paying more," said Michael Drexler, national media director at Bozell Inc. ad agency.@@@@1@23@@oe@2-2-2013
22350019@unknown@formal@none@1@S@"A few drops in circulation are of no consequence.@@@@1@9@@oe@2-2-2013
22350020@unknown@formal@none@1@S@It's not a show of weakness; they are improving the quality of circulation while insuring their profits."@@@@1@17@@oe@2-2-2013
22350021@unknown@formal@none@1@S@Mr. Heinemann said the changes represent a new focus in the magazine industry: a magazine's net revenue per subscriber, or the actual revenue from subscribers after discounts and the cost of premiums have been stripped away.@@@@1@36@@oe@2-2-2013
22350022@unknown@formal@none@1@S@"The question is how much are we getting from each reader," said Mr. Heinemann.@@@@1@14@@oe@2-2-2013
22350023@unknown@formal@none@1@S@Time's rivals news-weeklies, Washington Post Co.'s Newsweek and U.S. News & World Report, are less reliant on electronic giveaways, and in recent years both have been increasing their circulation rate bases.@@@@1@31@@oe@2-2-2013
22350024@unknown@formal@none@1@S@Both magazines are expected to announce their ad rates and circulation levels for 1990 within a month.@@@@1@17@@oe@2-2-2013
22351001@unknown@formal@none@1@S@When the news broke of an attempted coup in Panama two weeks ago, Sen. Christopher Dodd called the State Department for a briefing.@@@@1@23@@oe@2-2-2013
22351002@unknown@formal@none@1@S@"They said, `follow CNN,'" he told reporters.@@@@1@7@@oe@2-2-2013
22351003@unknown@formal@none@1@S@That shows how far Ted Turner's Cable News Network has come since its birth nine years ago, when it was considered the laughingstock of television news.@@@@1@26@@oe@2-2-2013
22351004@unknown@formal@none@1@S@It is bigger, faster and more profitable than the news divisions of any of the three major broadcast networks.@@@@1@19@@oe@2-2-2013
22351005@unknown@formal@none@1@S@Its niche as the "network of record" during major crises draws elite audiences around the world.@@@@1@16@@oe@2-2-2013
22351006@unknown@formal@none@1@S@But for all its success, CNN has hit a plateau.@@@@1@10@@oe@2-2-2013
22351007@unknown@formal@none@1@S@Although viewership soars when big news breaks, it ebbs during periods of calm.@@@@1@13@@oe@2-2-2013
22351008@unknown@formal@none@1@S@CNN executives worry that the network's punchy but repetitive news format may be getting stale and won't keep viewers coming back as the alternatives multiply for news and information on cable-TV.@@@@1@31@@oe@2-2-2013
22351009@unknown@formal@none@1@S@"Just the fact we're on 24 hours is no longer bulletin," says Ed Turner, CNN's executive vice president, news gathering (and no relation to Ted Turner).@@@@1@26@@oe@2-2-2013
22351010@unknown@formal@none@1@S@"You can't live on that."@@@@1@5@@oe@2-2-2013
22351011@unknown@formal@none@1@S@So CNN, a unit of Atlanta-based Turner Broadcasting System Inc., is trying to reposition itself as a primary channel, or what people in the television industry call a "top of mind" network.@@@@1@32@@oe@2-2-2013
22351012@unknown@formal@none@1@S@Tonight, to kick off the effort, CNN will premiere its first prime-time newscast in years, an hourlong show at 6 p.m. Eastern time to air head-to-head against the network newscasts.@@@@1@30@@oe@2-2-2013
22351013@unknown@formal@none@1@S@The show will be co-anchored by Bernard Shaw and Catherine Crier, a 34-year-old former Texas judge and campus beauty queen who has never held a job in television or journalism.@@@@1@30@@oe@2-2-2013
22351014@unknown@formal@none@1@S@The new show is perhaps the boldest in a number of steps the network is taking to build audience loyalty by shifting away from its current format toward more full-length "signature" programming with recognizable stars.@@@@1@35@@oe@2-2-2013
22351015@unknown@formal@none@1@S@To distinguish itself, CNN is also expanding international coverage and adding a second global-news program.@@@@1@15@@oe@2-2-2013
22351016@unknown@formal@none@1@S@It is paying higher salaries -- after years of scrimping -- to lure and keep experienced staffers.@@@@1@17@@oe@2-2-2013
22351017@unknown@formal@none@1@S@And it is embarking on an expensive gamble to break major stories with a large investigative-reporting team.@@@@1@17@@oe@2-2-2013
22351018@unknown@formal@none@1@S@"The next stage is to get beyond the opinion leaders who use us as a point of reference to become a point of reference at ordinary dinner tables," says Jon Petrovich, executive vice president of Headline News, CNN's sister network.@@@@1@40@@oe@2-2-2013
22351019@unknown@formal@none@1@S@But that won't be easy.@@@@1@5@@oe@2-2-2013
22351020@unknown@formal@none@1@S@Networks, like other consumer products, develop images in peoples' minds that aren't easy to change.@@@@1@15@@oe@2-2-2013
22351021@unknown@formal@none@1@S@It also takes money that CNN has been reluctant to spend to make programs and hire talent that viewers will tune in specially to see.@@@@1@25@@oe@2-2-2013
22351022@unknown@formal@none@1@S@And the cable-TV operators -- CNN's distributors and part owners -- like things just the way they are.@@@@1@18@@oe@2-2-2013
22351023@unknown@formal@none@1@S@The repositioning bid is aimed at CNN's unsteady viewership -- and what may happen to it as the cable-TV news market grows more competitive.@@@@1@24@@oe@2-2-2013
22351024@unknown@formal@none@1@S@Already, CNN is facing stronger competition from Financial News Network Inc. and General Electric Co.'s Consumer News and Business Channel, both of which are likely to pursue more general news in the future.@@@@1@33@@oe@2-2-2013
22351025@unknown@formal@none@1@S@In addition, many cable-TV systems themselves are airing more local and regional news programs produced by local broadcast stations.@@@@1@19@@oe@2-2-2013
22351026@unknown@formal@none@1@S@CNN wants to change its viewers' habits.@@@@1@7@@oe@2-2-2013
22351027@unknown@formal@none@1@S@Its watchers are, on the whole, a disloyal group of channel-zapping "grazers" and news junkies, who spend an average of just 26 minutes a day watching CNN, according to audience research.@@@@1@31@@oe@2-2-2013
22351028@unknown@formal@none@1@S@That's less than one-third the time that viewers watch the major broadcast networks.@@@@1@13@@oe@2-2-2013
22351029@unknown@formal@none@1@S@The brief attention viewers give CNN could put it at a disadvantage as ratings data, and advertising, become more important to cable-TV channels.@@@@1@23@@oe@2-2-2013
22351030@unknown@formal@none@1@S@CNN's viewer habits have been molded by its format.@@@@1@9@@oe@2-2-2013
22351031@unknown@formal@none@1@S@Its strategy in the past has been to serve as a TV wire service.@@@@1@14@@oe@2-2-2013
22351032@unknown@formal@none@1@S@It focused on building up its news bureaus around the world, so as events took place it could go live quicker and longer than other networks.@@@@1@26@@oe@2-2-2013
22351033@unknown@formal@none@1@S@It filled its daily schedule with newscasts called "Daybreak," "Daywatch," "Newsday," and "Newsnight," but the shows varied little in content, personality or look.@@@@1@23@@oe@2-2-2013
22351034@unknown@formal@none@1@S@Now, the push is on for more-distinctive shows.@@@@1@8@@oe@2-2-2013
22351035@unknown@formal@none@1@S@"Our goal is to create more programs with an individual identity," says Paul Amos, CNN executive vice president for programming.@@@@1@20@@oe@2-2-2013
22351036@unknown@formal@none@1@S@Accordingly, CNN is adding a world-affairs show in the morning because surveys show its global-news hour in the afternoon is among its most "differentiated" programs in viewers' minds, says Mr. Amos.@@@@1@31@@oe@2-2-2013
22351037@unknown@formal@none@1@S@And it is exploring other original programs, similar to its "Larry King Live" and "Crossfire" talk shows, which executives hope will keep people tuned in.@@@@1@25@@oe@2-2-2013
22351038@unknown@formal@none@1@S@Then there's "The World Today," the prime-time newscast featuring Mr. Shaw and Ms. Crier.@@@@1@14@@oe@2-2-2013
22351039@unknown@formal@none@1@S@Until now, CNN has featured its Hollywood gossip show during the key evening period.@@@@1@14@@oe@2-2-2013
22351040@unknown@formal@none@1@S@But 70% of the cable-television-equipped households that watch news do so between 6:30 p.m. and 7 p.m., the network discovered, so CNN wants in.@@@@1@24@@oe@2-2-2013
22351041@unknown@formal@none@1@S@Mr. Amos says the Shaw-Crier team will probably do two live interviews a day, with most of the program, at least for now, appearing similar to CNN's other newcasts.@@@@1@29@@oe@2-2-2013
22351042@unknown@formal@none@1@S@Some in the industry are skeptical.@@@@1@6@@oe@2-2-2013
22351043@unknown@formal@none@1@S@"I find it hard to conceive of people switching over to CNN for what, at least in the public's mind, is the same news," says Reuven Frank, the former two-time president of NBC News and creator of the Huntley-Brinkley Report.@@@@1@40@@oe@2-2-2013
22351044@unknown@formal@none@1@S@The evening news is also slated as CNN's stage for its big push into investigative journalism.@@@@1@16@@oe@2-2-2013
22351045@unknown@formal@none@1@S@In August, the network hired award-winning producer Pamela Hill, the former head of news specials at ABC.@@@@1@17@@oe@2-2-2013
22351046@unknown@formal@none@1@S@She's assembling a staff of about 35 investigative reporters who will produce weekly, in-depth segments, with an eye toward breaking big stories.@@@@1@22@@oe@2-2-2013
22351047@unknown@formal@none@1@S@CNN executives hope the headlines created by such scoops will generate excitement for its "branded" programs, in the way "60 Minutes" did so well for CBS.@@@@1@26@@oe@2-2-2013
22351048@unknown@formal@none@1@S@That's such a departure from the past that many in the industry are skeptical CNN will follow through with its investigative commitment, especially after it sees the cost of producing in-depth pieces.@@@@1@32@@oe@2-2-2013
22351049@unknown@formal@none@1@S@"They've never shown any inclination to spend money on production," says Michael Mosettig, a senior producer with MacNeil-Lehrer NewsHour, who notes that CNN is indispensable to his job.@@@@1@28@@oe@2-2-2013
22351050@unknown@formal@none@1@S@The network's salaries have always ranged far below industry standards, resulting in a less-experienced work force.@@@@1@16@@oe@2-2-2013
22351051@unknown@formal@none@1@S@CNN recently gave most employees raises of as much as 15%, but they're still drastically underpaid compared with the networks.@@@@1@20@@oe@2-2-2013
22351052@unknown@formal@none@1@S@Says Mr. Mosettig: "CNN is my wire service; they're on top of everything.@@@@1@13@@oe@2-2-2013
22351053@unknown@formal@none@1@S@But to improve, they've really got to make the investment in people."@@@@1@12@@oe@2-2-2013
22351054@unknown@formal@none@1@S@In any case, cable-TV-system operators have reason to fear any tinkering with CNN's format.@@@@1@14@@oe@2-2-2013
22351055@unknown@formal@none@1@S@They market cable-TV on the very grazing opportunities CNN seeks to discourage.@@@@1@12@@oe@2-2-2013
22351056@unknown@formal@none@1@S@"We would obviously be upset if those kinds of services evolved into more general-interest, long-format programming," says Robert Stengel, senior vice president, programming, of Continental Cablevision Inc., which holds a 2% stake in Turner Broadcasting.@@@@1@35@@oe@2-2-2013
22352001@unknown@formal@none@1@S@The Second U.S. Circuit Court of Appeals opinion in the Arcadian Phosphate case did not repudiate the position Pennzoil Co. took in its dispute with Texaco, contrary to your Sept. 8 article "Court Backs Texaco's View in Pennzoil Case -- Too Late."@@@@1@42@@oe@2-2-2013
22352002@unknown@formal@none@1@S@The fundamental rule of contract law applied to both cases was that courts will not enforce agreements to which the parties did not intend to be bound.@@@@1@27@@oe@2-2-2013
22352003@unknown@formal@none@1@S@In the Pennzoil/Texaco litigation, the courts found Pennzoil and Getty Oil intended to be bound; in Arcadian Phosphates they found there was no intention to be bound.@@@@1@27@@oe@2-2-2013
22352004@unknown@formal@none@1@S@Admittedly, the principle in the cases is the same.@@@@1@9@@oe@2-2-2013
22352005@unknown@formal@none@1@S@But the outcome of a legal dispute almost always turns on the facts.@@@@1@13@@oe@2-2-2013
22352006@unknown@formal@none@1@S@And the facts, as found by the various courts in these two lawsuits, were different.@@@@1@15@@oe@2-2-2013
22352007@unknown@formal@none@1@S@When you suggest otherwise, you leave the realm of reporting and enter the orbit of speculation.@@@@1@16@@oe@2-2-2013
22352008@unknown@formal@none@1@S@Charles F. Vihon@@@@1@3@@oe@2-2-2013
22353001@unknown@formal@none@1@S@Valley Federal Savings & Loan Association said Imperial Corp. of America withdrew from regulators its application to buy five Valley Federal branches, leaving the transaction in limbo.@@@@1@27@@oe@2-2-2013
22353002@unknown@formal@none@1@S@The broken purchase appears as additional evidence of trouble at Imperial Corp., whose spokesman said the company withdrew its application from the federal Office of Thrift Supervision because of an informal notice that Imperial's thrift unit failed to meet Community Reinvestment Act requirements.@@@@1@43@@oe@2-2-2013
22353003@unknown@formal@none@1@S@The Community Reinvestment Act requires savings and loan associations to lend money in amounts related to areas where deposits are received.@@@@1@21@@oe@2-2-2013
22353004@unknown@formal@none@1@S@The transaction, announced in August, included about $146 million in deposits at the five outlets in California's San Joaquin Valley.@@@@1@20@@oe@2-2-2013
22353005@unknown@formal@none@1@S@Terms weren't disclosed, but Valley Federal had said it expected to post a modest pretax gain and to save about $2 million in operating costs annually.@@@@1@26@@oe@2-2-2013
22353006@unknown@formal@none@1@S@Valley Federal said Friday that it is considering whether to seek another buyer for the branches or to pursue the transaction with Imperial Corp., which said it is attempting to meet Community Reinvestment Act requirements.@@@@1@35@@oe@2-2-2013
22353007@unknown@formal@none@1@S@Valley Federal, with assets of $3.3 billion, is based in Van Nuys.@@@@1@12@@oe@2-2-2013
22353008@unknown@formal@none@1@S@Imperial Corp., based in San Diego, is the parent of Imperial Savings & Loan.@@@@1@14@@oe@2-2-2013
22353009@unknown@formal@none@1@S@In the first six months of the year it posted a net loss of $33.1 million.@@@@1@16@@oe@2-2-2013
22354001@unknown@formal@none@1@S@Call it the "we're too broke to fight" defense.@@@@1@9@@oe@2-2-2013
22354002@unknown@formal@none@1@S@Lawyers for dozens of insolvent savings and loan associations are trying a new tack in their efforts to defuse suits filed by borrowers, developers and creditors.@@@@1@26@@oe@2-2-2013
22354003@unknown@formal@none@1@S@The thrifts' lawyers claim that the suits, numbering 700 to 1,000 in Texas alone, should be dismissed as moot because neither the S&Ls nor the extinct Federal Savings and Loan Insurance Corp. has the money to pay judgments.@@@@1@38@@oe@2-2-2013
22354004@unknown@formal@none@1@S@Though the argument may have a common-sense ring to it, even the S&L lawyers concede there's little precedent to back their position.@@@@1@22@@oe@2-2-2013
22354005@unknown@formal@none@1@S@Still, one federal appeals court has signaled it's willing to entertain the notion, and the lawyers have renewed their arguments in Texas and eight other states where the defense is permitted under state law.@@@@1@34@@oe@2-2-2013
22354006@unknown@formal@none@1@S@The dismissal of the pending suits could go a long way toward clearing court dockets in Texas and reducing the FSLIC's massive legal bills, which topped $73 million last year.@@@@1@30@@oe@2-2-2013
22354007@unknown@formal@none@1@S@The S&L lawyers were encouraged last month by an appellate-court ruling in two cases brought against defunct Sunbelt Savings & Loan Association of Dallas by the developers of the Valley Ranch, best known as the training center for the Dallas Cowboys football team.@@@@1@43@@oe@2-2-2013
22354008@unknown@formal@none@1@S@Sunbelt foreclosed on the ranch.@@@@1@5@@oe@2-2-2013
22354009@unknown@formal@none@1@S@Sunbelt and the FSLIC argued to the Fifth U.S. Circuit Court of Appeals "that there will never be any assets with which to satisfy a judgment against Sunbelt Savings nor any means to collect from any other party, including FSLIC."@@@@1@40@@oe@2-2-2013
22354010@unknown@formal@none@1@S@"If true," the court wrote, "this contention would justify dismissal of these actions on prudential grounds."@@@@1@16@@oe@2-2-2013
22354011@unknown@formal@none@1@S@But the court said it lacked enough financial information about Sunbelt and the FSLIC and sent the cases back to federal district court in Dallas.@@@@1@25@@oe@2-2-2013
22354012@unknown@formal@none@1@S@Charles Haworth, a lawyer for Sunbelt, says he plans to file a brief this week urging the district judge to dismiss the suits, because Sunbelt's liabilities exceeded its assets by about $2 billion when federal regulators closed it in August 1988.@@@@1@41@@oe@2-2-2013
22354013@unknown@formal@none@1@S@"This institution is just brain dead," says Mr. Haworth, a partner in the Dallas office of Andrews & Kurth, a Houston law firm.@@@@1@23@@oe@2-2-2013
22354014@unknown@formal@none@1@S@But a lawyer for Triland Investment Group, the developer of Valley Ranch, dismisses such arguments as a "defense du jour."@@@@1@20@@oe@2-2-2013
22354015@unknown@formal@none@1@S@Attorney Richard Jackson of Dallas says a judgment for Triland could be satisfied in ways other than a monetary award, including the reversal of Sunbelt's foreclosure on Valley Ranch.@@@@1@29@@oe@2-2-2013
22354016@unknown@formal@none@1@S@"We're asking the court for a number of things he can grant in addition to the thrill of victory," he says.@@@@1@21@@oe@2-2-2013
22354017@unknown@formal@none@1@S@"We'd take the Valley Ranch free and clear as a booby prize.@@@@1@12@@oe@2-2-2013
22355001@unknown@formal@none@1@S@Kenneth J. Thygerson, who was named president of this thrift holding company in August, resigned, citing personal reasons.@@@@1@18@@oe@2-2-2013
22355002@unknown@formal@none@1@S@Mr. Thygerson said he had planned to travel between the job in Denver and his San Diego home, but has found the commute too difficult to continue.@@@@1@27@@oe@2-2-2013
22355003@unknown@formal@none@1@S@A new president wasn't named.@@@@1@5@@oe@2-2-2013
22356001@unknown@formal@none@1@S@SOUTH AFRICA FREED the ANC's Sisulu and seven other political prisoners.@@@@1@11@@oe@2-2-2013
22356002@unknown@formal@none@1@S@Thousands of supporters, many brandishing flags of the outlawed African National Congress, gave the anti-apartheid activists a tumultuous reception upon their return to black townships across the country.@@@@1@28@@oe@2-2-2013
22356003@unknown@formal@none@1@S@Most of those freed had spent at least 25 years in prison.@@@@1@12@@oe@2-2-2013
22356004@unknown@formal@none@1@S@The 77-year-old Sisulu, sentenced to life in 1964 along with black nationalist Nelson Mandela for plotting to overthrow the government, said equality for blacks in South Africa was in reach.@@@@1@30@@oe@2-2-2013
22356005@unknown@formal@none@1@S@The releases, announced last week by President de Klerk, were viewed as Pretoria's tacit legalization of the ANC.@@@@1@18@@oe@2-2-2013
22356006@unknown@formal@none@1@S@Mandela, considered the most prominent leader of the ANC, remains in prison.@@@@1@12@@oe@2-2-2013
22356007@unknown@formal@none@1@S@But his release within the next few months is widely expected.@@@@1@11@@oe@2-2-2013
22356008@unknown@formal@none@1@S@The Soviet Union reported that thousands of tons of goods needed to ease widespread shortages across the nation were piled up at ports and rail depots, and food shipments were rotting because of a lack of people and equipment to move the cargo.@@@@1@43@@oe@2-2-2013
22356009@unknown@formal@none@1@S@Strikes and mismanagement were cited, and Premier Ryzhkov warned of "tough measures."@@@@1@12@@oe@2-2-2013
22356010@unknown@formal@none@1@S@Bush indicated there might be "room for flexibility" in a bill to allow federal funding of abortions for poor women who are vicitims of rape and incest.@@@@1@27@@oe@2-2-2013
22356011@unknown@formal@none@1@S@He reiterated his opposition to such funding, but expressed hope of a compromise.@@@@1@13@@oe@2-2-2013
22356012@unknown@formal@none@1@S@The president, at a news conference Friday, also renewed a call for the ouster of Panama's Noriega.@@@@1@17@@oe@2-2-2013
22356013@unknown@formal@none@1@S@The White House said minors haven't any right to abortion without the consent of their parents.@@@@1@16@@oe@2-2-2013
22356014@unknown@formal@none@1@S@The administration's policy was stated in a friend-of-the-court brief urging the Supreme Court to give states more leeway to restrict abortions.@@@@1@21@@oe@2-2-2013
22356015@unknown@formal@none@1@S@Ten of the nation's governors, meanwhile, called on the justices to reject efforts to limit abortions.@@@@1@16@@oe@2-2-2013
22356016@unknown@formal@none@1@S@The Justice Department announced that the FBI has been given the authority to seize U.S. fugitives overseas without the permission of foreign governments.@@@@1@23@@oe@2-2-2013
22356017@unknown@formal@none@1@S@Secretary of State Baker emphasized Friday that the new policy wouldn't be invoked by the Bush administration without full consideration of foreign-policy implications.@@@@1@23@@oe@2-2-2013
22356018@unknown@formal@none@1@S@NASA pronounced the space shuttle Atlantis ready for launch tomorrow following a five-day postponement of the flight because of a faulty engine computer.@@@@1@23@@oe@2-2-2013
22356019@unknown@formal@none@1@S@The device was replaced.@@@@1@4@@oe@2-2-2013
22356020@unknown@formal@none@1@S@The spacecraft's five astronauts are to dispatch the Galileo space probe on an exploration mission to Jupiter.@@@@1@17@@oe@2-2-2013
22356021@unknown@formal@none@1@S@South Korea's President Roh traveled to the U.S. for a five-day visit that is expected to focus on ties between Washington and Seoul.@@@@1@23@@oe@2-2-2013
22356022@unknown@formal@none@1@S@Roh, who is facing calls for the reduction of U.S. military forces in South Korea, is to meet with Bush tomorrow and is to address a joint session of Congress on Wednesday.@@@@1@32@@oe@2-2-2013
22356023@unknown@formal@none@1@S@China's Communist leadership voted to purge the party of "hostile and anti-party elements" and wealthy private businessmen, whom they called exploiters.@@@@1@21@@oe@2-2-2013
22356024@unknown@formal@none@1@S@The decision, reported by the official Xinhua News Agency, indicated that the crackdown prompted by student-led pro-democracy protests in June is intensifying.@@@@1@22@@oe@2-2-2013
22356025@unknown@formal@none@1@S@Hundreds of East Germans flocked to Bonn's Embassy in Warsaw, bringing to more than 1,200 the number of emigres expected to flee to the West beginning today.@@@@1@27@@oe@2-2-2013
22356026@unknown@formal@none@1@S@More than 2,100 others escaped to West Germany through Hungary over the Weekend.@@@@1@13@@oe@2-2-2013
22356027@unknown@formal@none@1@S@In Leipzig, activists vowed to continue street protests to demand internal change.@@@@1@12@@oe@2-2-2013
22356028@unknown@formal@none@1@S@Zaire's President Mobutu met in southern France with Angolan rebel leader Savimbi and a senior U.S. envoy in a bid to revive an accord to end Angola's civil war.@@@@1@29@@oe@2-2-2013
22356029@unknown@formal@none@1@S@Details of the talks, described by a Zairean official as "very delicate," weren't disclosed.@@@@1@14@@oe@2-2-2013
22356030@unknown@formal@none@1@S@PLO leader Arafat insisted on guarantees that any elections in the Israeli-occupied territories would be impartial.@@@@1@16@@oe@2-2-2013
22356031@unknown@formal@none@1@S@He made his remarks to a PLO gathering in Baghdad.@@@@1@10@@oe@2-2-2013
22356032@unknown@formal@none@1@S@In the occupied lands, underground leaders of the Arab uprising rejected a U.S. plan to arrange Israeli-Palestinian talks as Shamir opposed holding such discussions in Cairo.@@@@1@26@@oe@2-2-2013
22356033@unknown@formal@none@1@S@Lebanese Christian lawmakers presented to Arab mediators at talks in Saudi Arabia proposals for a new timetable for the withdrawal of Syria's forces from Lebanon.@@@@1@25@@oe@2-2-2013
22356034@unknown@formal@none@1@S@A plan currently under study gives Damascus two years to pull back to eastern Lebanon, starting from the time Beirut's legislature increases political power for Moslems.@@@@1@26@@oe@2-2-2013
22356035@unknown@formal@none@1@S@Hurricane Jerry threatened to combine with the highest tides of the year to swamp the Texas-Louisiana coast.@@@@1@17@@oe@2-2-2013
22356036@unknown@formal@none@1@S@Thousands of residents of low-lying areas were ordered to evacuate as the storm headed north in the Gulf of Mexico with 80 mph winds.@@@@1@24@@oe@2-2-2013
22357001@unknown@formal@none@1@S@A group of Arby's franchisees said they formed an association to oppose Miami Beach financier Victor Posner's control of the restaurant chain.@@@@1@22@@oe@2-2-2013
22357002@unknown@formal@none@1@S@The decision is the latest move in an escalating battle between the franchisees and Mr. Posner that began in August.@@@@1@20@@oe@2-2-2013
22357003@unknown@formal@none@1@S@At the time, a group called R.B. Partners Ltd., consisting of eight of Arby's largest franchisees, offered more than $200 million to buy Arby's Inc., which is part of DWG Corp.@@@@1@31@@oe@2-2-2013
22357004@unknown@formal@none@1@S@DWG is a holding company controlled by Mr. Posner.@@@@1@9@@oe@2-2-2013
22357005@unknown@formal@none@1@S@One week later, Leonard H. Roberts, president and chief executive officer of Arby's, was fired in a dispute with Mr. Posner.@@@@1@21@@oe@2-2-2013
22357006@unknown@formal@none@1@S@Friday, 42 franchisees announced the formation of an association -- called A.P. Association Inc. -- to "preserve the integrity of the Arby's system."@@@@1@23@@oe@2-2-2013
22357007@unknown@formal@none@1@S@The franchisees, owners or operators of 1,000 of the 1,900 franchised Arby's in the U.S., said: "We have concluded that continued control of Arby's by Victor Posner is totally unacceptable to us, because it is extremely likely to cause irreparable damage to the Arby's system.@@@@1@45@@oe@2-2-2013
22357008@unknown@formal@none@1@S@We support all efforts to remove Victor Posner from control of Arby's Inc. and the Arby's system."@@@@1@17@@oe@2-2-2013
22357009@unknown@formal@none@1@S@The group said it would consider, among other things, withholding royalty payments and initiating a class-action lawsuit seeking court approval for the withholdings.@@@@1@23@@oe@2-2-2013
22357010@unknown@formal@none@1@S@In Florida, Renee Mottram, a senior vice president at DWG, responded: "We don't think any individual or group should disrupt a winning system or illegally interfere with existing contractual relationships for their own self-serving motives.@@@@1@35@@oe@2-2-2013
22358001@unknown@formal@none@1@S@September's steep rise in producer prices shows that inflation still persists, and the pessimism over interest rates caused by the new price data contributed to the stock market's plunge Friday.@@@@1@30@@oe@2-2-2013
22358002@unknown@formal@none@1@S@After falling for three consecutive months, the producer price index for finished goods shot up 0.9% last month, the Labor Department reported Friday, as energy prices jumped after tumbling through the summer.@@@@1@32@@oe@2-2-2013
22358003@unknown@formal@none@1@S@Although the report, which was released before the stock market opened, didn't trigger the 190.58-point drop in the Dow Jones Industrial Average, analysts said it did play a role in the market's decline.@@@@1@33@@oe@2-2-2013
22358004@unknown@formal@none@1@S@Analysts immediately viewed the price data, the grimmest inflation news in months, as evidence that the Federal Reserve was unlikely to allow interest rates to fall as many investors had hoped.@@@@1@31@@oe@2-2-2013
22358005@unknown@formal@none@1@S@Further fueling the belief that pressures in the economy were sufficient to keep the Fed from easing credit, the Commerce Department reported Friday that retail sales grew 0.5% in September, to $145.21 billion.@@@@1@33@@oe@2-2-2013
22358006@unknown@formal@none@1@S@That rise came on top of a 0.7% gain in August, and suggested there is still healthy consumer demand in the economy.@@@@1@22@@oe@2-2-2013
22358007@unknown@formal@none@1@S@"I think the Friday report, combined with the actions of the Fed, weakened the belief that there was going to be an imminent easing of monetary policy," said Robert Dederick, chief economist at Northern Trust Co. in Chicago.@@@@1@38@@oe@2-2-2013
22358008@unknown@formal@none@1@S@But economists were divided over the extent of the inflation threat signaled by the new numbers.@@@@1@16@@oe@2-2-2013
22358009@unknown@formal@none@1@S@"The overall 0.9% increase is serious in itself, but what is even worse is that excluding food and energy, the producer price index still increased by 0.7%," said Gordon Richards, an economist at the National Association of Manufacturers.@@@@1@38@@oe@2-2-2013
22358010@unknown@formal@none@1@S@But Sung Won Sohn, chief economist at Norwest Corp. in Minneapolis, blamed rising energy prices and the annual autumn increase in car prices for most of the September jump.@@@@1@29@@oe@2-2-2013
22358011@unknown@formal@none@1@S@"I would say this is not bad news; this is a blip," he said.@@@@1@14@@oe@2-2-2013
22358012@unknown@formal@none@1@S@"The core rate is not really out of line."@@@@1@9@@oe@2-2-2013
22358013@unknown@formal@none@1@S@All year, energy prices have skewed the producer price index, which measures changes in the prices producers receive for goods.@@@@1@20@@oe@2-2-2013
22358014@unknown@formal@none@1@S@Inflation unquestionably has fallen back from its torrid pace last winter, when a steep run-up in world oil prices sent the index surging at double-digit annual rates.@@@@1@27@@oe@2-2-2013
22358015@unknown@formal@none@1@S@Energy prices then plummeted through the summer, causing the index to decline for three consecutive months.@@@@1@16@@oe@2-2-2013
22358016@unknown@formal@none@1@S@Overall, the index has climbed at a 5.1% compound annual rate since the start of the year, the Labor Department said.@@@@1@21@@oe@2-2-2013
22358017@unknown@formal@none@1@S@While far more restrained than the pace at the beginning of the year, that is still a steeper rise than the 4.0% increase for all of 1988.@@@@1@27@@oe@2-2-2013
22358018@unknown@formal@none@1@S@Moreover, this year's good inflation news may have ended last month, when energy prices zoomed up 6.5% after plunging 7.3% in August.@@@@1@22@@oe@2-2-2013
22358019@unknown@formal@none@1@S@Some analysts expect oil prices to remain relatively stable in the months ahead, leaving the future pace of inflation uncertain.@@@@1@20@@oe@2-2-2013
22358020@unknown@formal@none@1@S@Analysts had expected that the climb in oil prices last month would lead to a substantial rise in the producer price index, but the 0.9% climb was higher than most anticipated.@@@@1@31@@oe@2-2-2013
22358021@unknown@formal@none@1@S@"I think the resurgence {in inflation} is going to continue for a few months," said John Mueller, chief economist at Bell Mueller Cannon, a Washington economic forecasting firm.@@@@1@28@@oe@2-2-2013
22358022@unknown@formal@none@1@S@He predicted that inflation will moderate next year, saying that credit conditions are fairly tight world-wide.@@@@1@16@@oe@2-2-2013
22358023@unknown@formal@none@1@S@But Dirk Van Dongen, president of the National Association of Wholesaler-Distributors, said that last month's rise "isn't as bad an omen" as the 0.9% figure suggests.@@@@1@26@@oe@2-2-2013
22358024@unknown@formal@none@1@S@"If you examine the data carefully, the increase is concentrated in energy and motor vehicle prices, rather than being a broad-based advance in the prices of consumer and industrial goods," he explained.@@@@1@32@@oe@2-2-2013
22358025@unknown@formal@none@1@S@Passenger car prices jumped 3.8% in September, after climbing 0.5% in August and declining in the late spring and summer.@@@@1@20@@oe@2-2-2013
22358026@unknown@formal@none@1@S@Many analysts said the September increase was a one-time event, coming as dealers introduced their 1990 models.@@@@1@17@@oe@2-2-2013
22358027@unknown@formal@none@1@S@Although all the price data were adjusted for normal seasonal fluctuations, car prices rose beyond the customary autumn increase.@@@@1@19@@oe@2-2-2013
22358028@unknown@formal@none@1@S@Prices for capital equipment rose a hefty 1.1% in September, while prices for home electronic equipment fell 1.1%.@@@@1@18@@oe@2-2-2013
22358029@unknown@formal@none@1@S@Food prices declined 0.6%, after climbing 0.3% in August.@@@@1@9@@oe@2-2-2013
22358030@unknown@formal@none@1@S@Meanwhile, the retail sales report showed that car sales rose 0.8% in September to $32.82 billion.@@@@1@16@@oe@2-2-2013
22358031@unknown@formal@none@1@S@But at least part of the increase could have come from higher prices, analysts said.@@@@1@15@@oe@2-2-2013
22358032@unknown@formal@none@1@S@Sales at general merchandise stores rose 1.7% after declining 0.6% in August, while sales of building materials fell 1.8% after rising 1.7%.@@@@1@22@@oe@2-2-2013
22358033@unknown@formal@none@1@S@Producer prices for intermediate goods grew 0.4% in September, after dropping for three consecutive months.@@@@1@15@@oe@2-2-2013
22358034@unknown@formal@none@1@S@Prices for crude goods, an array of raw materials, jumped 1.1% after declining 1.9% in August and edging up 0.2% in July.@@@@1@22@@oe@2-2-2013
22358035@unknown@formal@none@1@S@Here are the Labor Department's producer price indexes (1982=100) for September, before seasonal adjustment, and the percentage changes from September, 1988.@@@@1@21@@oe@2-2-2013
22359001@unknown@formal@none@1@S@CityFed Financial Corp. said it expects to report a loss of at least $125 million to $150 million for the third quarter.@@@@1@22@@oe@2-2-2013
22359002@unknown@formal@none@1@S@In the year-earlier period, CityFed had net income of $485,000, but no per-share earnings.@@@@1@14@@oe@2-2-2013
22359003@unknown@formal@none@1@S@CityFed's president and chief executive officer, John Atherton, said the loss stems from several factors.@@@@1@15@@oe@2-2-2013
22359004@unknown@formal@none@1@S@He said nonperforming assets rose to slightly more than $700 million from $516 million between June and September.@@@@1@18@@oe@2-2-2013
22359005@unknown@formal@none@1@S@Approximately 85% of the total consisted of nonperforming commercial real estate assets.@@@@1@12@@oe@2-2-2013
22359006@unknown@formal@none@1@S@Accordingly, CityFed estimated that it will provide between $85 million and $110 million for credit losses in the third quarter.@@@@1@20@@oe@2-2-2013
22359007@unknown@formal@none@1@S@CityFed added that significant additional loan-loss provisions may be required by federal regulators as part of the current annual examination of City Federal Savings Bank, CityFed's primary subsidiary, based in Somerset, N.J.@@@@1@32@@oe@2-2-2013
22359008@unknown@formal@none@1@S@City Federal operates 105 banking offices in New Jersey and Florida.@@@@1@11@@oe@2-2-2013
22359009@unknown@formal@none@1@S@Mr. Atherton said CityFed will also mark its portfolio of high-yield corporate bonds to market as a result of federal legislation requiring that savings institutions divest themselves of such bonds.@@@@1@30@@oe@2-2-2013
22359010@unknown@formal@none@1@S@That action, CityFed said, will result in a charge against third-quarter results of approximately $30 million.@@@@1@16@@oe@2-2-2013
22359011@unknown@formal@none@1@S@CityFed also said it expects to shed its remaining mortgage loan origination operations outside its principal markets in New Jersey and Florida and, as a result, is taking a charge for discontinued operations.@@@@1@33@@oe@2-2-2013
22359012@unknown@formal@none@1@S@All these actions, Mr. Atherton said, will result in a loss of $125 million to $150 million for the third quarter.@@@@1@21@@oe@2-2-2013
22359013@unknown@formal@none@1@S@He added, however: "Depending on the resolution of certain accounting issues relating to mortgages servicing and the outcome of the annual examination of City Federal currently in progress with respect to the appropriate level of loan loss reserves, the total loss for the quarter could significantly exceed this range.@@@@1@49@@oe@2-2-2013
22360001@unknown@formal@none@1@S@CenTrust Savings Bank said federal thrift regulators ordered it to suspend dividend payments on its two classes of preferred stock, indicating that regulators' concerns about the troubled institution have heightened.@@@@1@30@@oe@2-2-2013
22360002@unknown@formal@none@1@S@In a statement, Miami-based CenTrust said the regulators cited the thrift's operating losses and "apparent losses" in its junk-bond portfolio in ordering the suspension of the dividends.@@@@1@27@@oe@2-2-2013
22360003@unknown@formal@none@1@S@Regulators also ordered CenTrust to stop buying back the preferred stock.@@@@1@11@@oe@2-2-2013
22360004@unknown@formal@none@1@S@David L. Paul, chairman and chief executive officer, criticized the federal Office of Thrift Supervision, which issued the directive, saying it was "inappropriate" and based on "insufficient" reasons.@@@@1@28@@oe@2-2-2013
22360005@unknown@formal@none@1@S@He said the thrift will try to get regulators to reverse the decision.@@@@1@13@@oe@2-2-2013
22360006@unknown@formal@none@1@S@The suspension of a preferred stock dividend is a serious step that signals that regulators have deep concerns about an institution's health.@@@@1@22@@oe@2-2-2013
22360007@unknown@formal@none@1@S@In March, regulators labeled CenTrust a "troubled institution," largely because of its big junk-bond holdings and its operating losses.@@@@1@19@@oe@2-2-2013
22360008@unknown@formal@none@1@S@In the same month, the Office of Thrift Supervision ordered the institution to stop paying common stock dividends until its operations were on track.@@@@1@24@@oe@2-2-2013
22360009@unknown@formal@none@1@S@For the nine months ended June 30, CenTrust had a net loss of $21.3 million, compared with year-earlier net income of $52.8 million.@@@@1@23@@oe@2-2-2013
22360010@unknown@formal@none@1@S@CenTrust, which is Florida's largest thrift, holds one of the largest junk-bond portfolios of any thrift in the nation.@@@@1@19@@oe@2-2-2013
22360011@unknown@formal@none@1@S@Since April, it has pared its high-yield bond holdings to about $890 million from $1.35 billion.@@@@1@16@@oe@2-2-2013
22360012@unknown@formal@none@1@S@Mr. Paul said only about $150 million of the current holdings are tradeable securities registered with the Securities and Exchange Commission.@@@@1@21@@oe@2-2-2013
22360013@unknown@formal@none@1@S@The remainder, he said, are commercial loan participations, or private placements, that aren't filed with the SEC and don't have a ready market.@@@@1@23@@oe@2-2-2013
22360014@unknown@formal@none@1@S@CenTrust and regulators have been in a dispute over market valuations for the junk bonds.@@@@1@15@@oe@2-2-2013
22360015@unknown@formal@none@1@S@The Office of Thrift Supervision has been hounding CenTrust to provide current market values for its holdings, but CenTrust has said it can't easily obtain such values because of the relative illiquidity of the bonds and lack of a ready market.@@@@1@41@@oe@2-2-2013
22360016@unknown@formal@none@1@S@Regulators have become increasingly antsy about CenTrust's and other thrifts' junk-bond holdings in light of the recent federal thrift bailout legislation and the recent deep decline in the junk-bond market.@@@@1@30@@oe@2-2-2013
22360017@unknown@formal@none@1@S@The legislation requires thrifts to divest themselves of junk bonds in the new, somber regulatory climate.@@@@1@16@@oe@2-2-2013
22360018@unknown@formal@none@1@S@In American Stock Exchange composite trading Friday, CenTrust common shares closed at $3, down 12.5 cents.@@@@1@16@@oe@2-2-2013
22360019@unknown@formal@none@1@S@In a statement Friday, Mr. Paul challenged the regulators' decision, saying the thrift's operating losses and "apparent" junk-bond losses "have been substantially offset by gains in other activities of the bank."@@@@1@31@@oe@2-2-2013
22360020@unknown@formal@none@1@S@He also said substantial reserves have been set aside for possible losses from the junk bonds.@@@@1@16@@oe@2-2-2013
22360021@unknown@formal@none@1@S@In the third quarter, for instance, CenTrust added $22.5 million to its general reserves.@@@@1@14@@oe@2-2-2013
22360022@unknown@formal@none@1@S@Mr. Paul said the regulators should instead move ahead with approving CenTrust's request to sell 63 of its 71 branches to Great Western Bank, a unit of Great Western Financial Corp. based in Beverly Hills, Calif.@@@@1@36@@oe@2-2-2013
22360023@unknown@formal@none@1@S@The branch sale is the centerpiece of CenTrust's strategy to transform itself into a traditional S&L from a high-flying institution that relied heavily on securities trading for profits, according to Mr. Paul.@@@@1@32@@oe@2-2-2013
22360024@unknown@formal@none@1@S@Most analysts and thrift executives had expected a decision on the proposed transaction, which was announced in July, long before now.@@@@1@21@@oe@2-2-2013
22360025@unknown@formal@none@1@S@Many interpret the delay as an indication that regulators are skeptical about the proposal.@@@@1@14@@oe@2-2-2013
22360026@unknown@formal@none@1@S@Branches and deposits can be sold at a premium in the event federal regulators take over an institution.@@@@1@18@@oe@2-2-2013
22360027@unknown@formal@none@1@S@CenTrust, however, touts the branch sale, saying it would bring in $150 million and reduce the thrift's assets to $6.7 billion from $9 billion.@@@@1@24@@oe@2-2-2013
22360028@unknown@formal@none@1@S@It said the sale would give it positive tangible capital of $82 million, or about 1.2% of assets, from a negative $33 million as of Sept. 30, thus bringing CenTrust close to regulatory standards.@@@@1@34@@oe@2-2-2013
22360029@unknown@formal@none@1@S@CenTrust said the branch sale would also reduce the company's large amount of good will by about $180 million.@@@@1@19@@oe@2-2-2013
22360030@unknown@formal@none@1@S@Critics, however, say the branch sale will make CenTrust more dependent than ever on brokered deposits and junk bonds.@@@@1@19@@oe@2-2-2013
22360031@unknown@formal@none@1@S@Mr. Paul counters that he intends to further pare the size of CenTrust by not renewing more than $1 billion of brokered certificates of deposit when they come due.@@@@1@29@@oe@2-2-2013
22360032@unknown@formal@none@1@S@The thrift is also working to unload its junk-bond portfolio by continuing to sell off the bonds, and it plans to eventually place some of them in a separate affiliate, as required under the new thrift law.@@@@1@37@@oe@2-2-2013
22361001@unknown@formal@none@1@S@On a recent Saturday night, in the midst of West Germany's most popular prime-time show, a contestant bet the host that she could name any of 100 different cheeses after just one nibble, while blindfolded.@@@@1@35@@oe@2-2-2013
22361002@unknown@formal@none@1@S@The woman won the bet.@@@@1@5@@oe@2-2-2013
22361003@unknown@formal@none@1@S@But perhaps even more remarkable, the three-hour-show, "Wetten Dass" (Make a Bet), regularly wins the top slot in the country's TV ratings, sometimes drawing as many as 50% of West German households.@@@@1@32@@oe@2-2-2013
22361004@unknown@formal@none@1@S@As the 1992 economic integration approaches, Europe's cultural curators have taken to the ramparts against American "cultural imperialism," threatening to impose quotas against such pop invaders as "Dallas," "Miami Vice" and "L.A. Law."@@@@1@33@@oe@2-2-2013
22361005@unknown@formal@none@1@S@But much of what the Europeans want to protect seems every bit as cheesy as what they are trying to keep out.@@@@1@22@@oe@2-2-2013
22361006@unknown@formal@none@1@S@The most militant opposition to American TV imports has come from French television and movie producers, who have demanded quotas ensuring that a full 60% of Europe's TV shows be produced in Europe.@@@@1@33@@oe@2-2-2013
22361007@unknown@formal@none@1@S@So far, the French have failed to win enough broad-based support to prevail.@@@@1@13@@oe@2-2-2013
22361008@unknown@formal@none@1@S@A glance through the television listings and a few twists of the European television dial suggest one reason why.@@@@1@19@@oe@2-2-2013
22361009@unknown@formal@none@1@S@While there are some popular action and drama series, few boast the high culture and classy production values one might expect.@@@@1@21@@oe@2-2-2013
22361010@unknown@formal@none@1@S@More European air time is filled with low-budget game shows, variety hours, movies and talk shows, many of which are authorized knock-offs of their American counterparts.@@@@1@26@@oe@2-2-2013
22361011@unknown@formal@none@1@S@One of France's most popular Saturday night programs features semi-celebrities seeking out their grammar-school classmates for on-air reunions.@@@@1@18@@oe@2-2-2013
22361012@unknown@formal@none@1@S@A Flemish game show has as its host a Belgian pretending to be Italian.@@@@1@14@@oe@2-2-2013
22361013@unknown@formal@none@1@S@One of Italy's favorite shows, "Fantastico," a tepid variety show, is so popular that viewers clamored to buy a chocolate product, "Cacao Fantastico," whose praises were sung each week by dancing showgirls -- even though the product didn't exist.@@@@1@39@@oe@2-2-2013
22361014@unknown@formal@none@1@S@Topping the cheese stunt, on another typical evening of fun on "Wetten Dass," a contestant won a bet with the show's host, Thomas Gottschalk, that he could identify 300 German dialects over the telephone.@@@@1@34@@oe@2-2-2013
22361015@unknown@formal@none@1@S@A celebrity guest, U.S. Ambassador to West Germany Richard Burt, also won a bet that someone could pile up $150 worth of quarters on a slanted coin.@@@@1@27@@oe@2-2-2013
22361016@unknown@formal@none@1@S@Mr. Burt nonetheless paid the penalty as if he had lost, agreeing to spend a day with West German Foreign Minister Hans-Dietrich Genscher frying and selling their combined weight in potato pancakes.@@@@1@32@@oe@2-2-2013
22361017@unknown@formal@none@1@S@If this seems like pretty weak stuff around which to raise the protectionist barriers, it may be because these shows need all the protection they can get.@@@@1@27@@oe@2-2-2013
22361018@unknown@formal@none@1@S@European programs usually target only their own local audience, and often only a small portion of that.@@@@1@17@@oe@2-2-2013
22361019@unknown@formal@none@1@S@Mega-hits in Germany or Italy rarely make it even to France or Great Britain, and almost never show up on U.S. screens.@@@@1@22@@oe@2-2-2013
22361020@unknown@formal@none@1@S@Attempts to produce "pan-European" programs have generally resulted in disappointment.@@@@1@10@@oe@2-2-2013
22361021@unknown@formal@none@1@S@One annual co-production, the three-hour-long "Eurovision Song Contest," featuring soft-rock songs from each of 20 European countries, has been described as the world's most boring TV show.@@@@1@27@@oe@2-2-2013
22361022@unknown@formal@none@1@S@Another, "Jeux Sans Frontieres," where villagers from assorted European countries make fools of themselves performing pointless tasks, is a hit in France.@@@@1@22@@oe@2-2-2013
22361023@unknown@formal@none@1@S@A U.S.-made imitation under the title "Almost Anything Goes" flopped fast.@@@@1@11@@oe@2-2-2013
22361024@unknown@formal@none@1@S@For the most part, what's made here stays here, and for good reason.@@@@1@13@@oe@2-2-2013
22361025@unknown@formal@none@1@S@The cream of the British crop, the literary dramas that are shown on U.S. public television as "Masterpiece Theater," make up a relatively small part of British air time.@@@@1@29@@oe@2-2-2013
22361026@unknown@formal@none@1@S@Most British programming is more of an acquired taste.@@@@1@9@@oe@2-2-2013
22361027@unknown@formal@none@1@S@There is, for instance, "One Man and His Dog," a herding contest among sheep dogs.@@@@1@15@@oe@2-2-2013
22361028@unknown@formal@none@1@S@Also riveting to the British are hours of dart-throwing championships, even more hours of lawn bowling contests and still more hours of snooker marathons.@@@@1@24@@oe@2-2-2013
22361029@unknown@formal@none@1@S@European drama has had better, though still mixed, fortunes.@@@@1@9@@oe@2-2-2013
22361030@unknown@formal@none@1@S@The most popular such shows focus on narrow national concerns.@@@@1@10@@oe@2-2-2013
22361031@unknown@formal@none@1@S@A French knock-off of "Dallas," called "Chateauvallon" and set in a French vineyard, had a good run in France, which ended after the female lead was injured in a real-life auto accident.@@@@1@32@@oe@2-2-2013
22361032@unknown@formal@none@1@S@"Schwarzwaldklinik," (Black Forest Clinic), a kind of German "St. Elsewhere" set in a health spa, is popular in Germany, and has spread into France.@@@@1@24@@oe@2-2-2013
22361033@unknown@formal@none@1@S@Italy's most popular series is a drama called "La Piovra," or "The Octopus," which chronicles the fight of an idealistic young investigator in Palermo against the Mafia.@@@@1@27@@oe@2-2-2013
22361034@unknown@formal@none@1@S@It was front-page news in Italy earlier this year when the fictional inspector was gunned down in the series.@@@@1@19@@oe@2-2-2013
22361035@unknown@formal@none@1@S@Spain's most popular mini-series this year was "Juncal," the story of an aging bullfighter.@@@@1@14@@oe@2-2-2013
22361036@unknown@formal@none@1@S@"The trend is pretty well established now that local programs are the most popular, with American programs second," says Brian Wenham, a former director of programs for the British Broadcasting Corp.@@@@1@31@@oe@2-2-2013
22361037@unknown@formal@none@1@S@"Given a choice, everybody will watch a home-produced show."@@@@1@9@@oe@2-2-2013
22361038@unknown@formal@none@1@S@But frequently there isn't much choice.@@@@1@6@@oe@2-2-2013
22361039@unknown@formal@none@1@S@Thus, Europe has begun the recent crusade to produce more worthy shows of its own, programs with broader appeal.@@@@1@19@@oe@2-2-2013
22361040@unknown@formal@none@1@S@"We've basically got to start from scratch, to train writers and producers to make shows that other people will want to see," concedes Colin Young, head of Britain's National Film Theatre School.@@@@1@32@@oe@2-2-2013
22361041@unknown@formal@none@1@S@While some in the U.S. contend that advertising is the bane of television, here many believe that its absence is to blame for the European TV industry's sluggish development.@@@@1@29@@oe@2-2-2013
22361042@unknown@formal@none@1@S@Until recently, national governments in Europe controlled most of the air time and allowed little or no advertising.@@@@1@18@@oe@2-2-2013
22361043@unknown@formal@none@1@S@Since production costs were guaranteed, it didn't matter that a program couldn't be sold abroad or put into syndication, as most American programs are.@@@@1@24@@oe@2-2-2013
22361044@unknown@formal@none@1@S@But not much money was spent on the shows, either, a situation that encouraged cheap-to-make talk and game shows, while discouraging expensive-to-produce dramas.@@@@1@23@@oe@2-2-2013
22361045@unknown@formal@none@1@S@Now, however, commercial channels are coming to most European countries, and at the same time, satellite and cable technology is spreading rapidly.@@@@1@22@@oe@2-2-2013
22361046@unknown@formal@none@1@S@Just last week, Greece authorized two commercial channels for the first time; Spain earlier began to allow commercial television alongside its state channels.@@@@1@23@@oe@2-2-2013
22361047@unknown@formal@none@1@S@The result is a new and huge appetite for programming.@@@@1@10@@oe@2-2-2013
22361048@unknown@formal@none@1@S@But perhaps to the consternation of those calling for quotas, most of this void is likely to be filled with the cheapest and most plentiful programming now available -- reruns -- usually of shows made in the U.S.@@@@1@38@@oe@2-2-2013
22361049@unknown@formal@none@1@S@Sky Channel, a British-based venture of Australian-American press tycoon Rupert Murdoch, offers what must be a baffling cultural mix to most of its audience.@@@@1@24@@oe@2-2-2013
22361050@unknown@formal@none@1@S@The financially struggling station offers programs obviously made available cheaply from its boss's other ventures.@@@@1@15@@oe@2-2-2013
22361051@unknown@formal@none@1@S@In a Madrid hotel room recently, a viewer caught the end of a badly acted series about a fishing boat on Australia's Great Barrier Reef, only to be urged by the British announcer to "stay tuned for the further adventures of Skippy the Kangaroo."@@@@1@44@@oe@2-2-2013
22361052@unknown@formal@none@1@S@Lisa Grishaw-Mueller in Bonn, Laura Colby in Milan, Tim Carrington in London and Carlta Vitzhum in Madrid contributed to this article.@@@@1@21@@oe@2-2-2013
22362001@unknown@formal@none@1@S@British Aerospace PLC and France's Thomson-CSF S.A. said they are nearing an agreement to merge their guided-missile divisions, greatly expanding collaboration between the two defense contractors.@@@@1@26@@oe@2-2-2013
22362002@unknown@formal@none@1@S@The 50-50 joint venture, which may be dubbed Eurodynamics, would have combined annual sales of at least #1.4 billion ($2.17 billion) and would be among the world's largest missile makers.@@@@1@30@@oe@2-2-2013
22362003@unknown@formal@none@1@S@After two years of talks, plans for the venture are sufficiently advanced for the companies to seek French and British government clearance.@@@@1@22@@oe@2-2-2013
22362004@unknown@formal@none@1@S@The companies hope for a final agreement by year-end.@@@@1@9@@oe@2-2-2013
22362005@unknown@formal@none@1@S@The venture would strengthen the rapidly growing ties between the two companies, and help make them a leading force in European defense contracting.@@@@1@23@@oe@2-2-2013
22362006@unknown@formal@none@1@S@In recent months, a string of cross-border mergers and joint ventures have reshaped the once-balkanized world of European arms manufacture.@@@@1@20@@oe@2-2-2013
22362007@unknown@formal@none@1@S@Already, British Aerospace and French government-controlled Thomson-CSF collaborate on a British missile contract and on an air-traffic control radar system.@@@@1@20@@oe@2-2-2013
22362008@unknown@formal@none@1@S@Just last week they announced they may make a joint bid to buy Ferranti International Signal PLC, a smaller British defense contractor rocked by alleged accounting fraud at a U.S. unit.@@@@1@31@@oe@2-2-2013
22362009@unknown@formal@none@1@S@The sudden romance of British Aerospace and Thomson-CSF -- traditionally bitter competitors for Middle East and Third World weapons contracts -- is stirring controversy in Western Europe's defense industry.@@@@1@29@@oe@2-2-2013
22362010@unknown@formal@none@1@S@Most threatened by closer British Aerospace-Thomson ties would be their respective national rivals, including Matra S.A. in France and Britain's General Electric Co. PLC.@@@@1@24@@oe@2-2-2013
22362011@unknown@formal@none@1@S@But neither Matra nor GEC -- unrelated to Stamford, Conn.-based General Electric Co. -- are sitting quietly by as their competitors join forces.@@@@1@23@@oe@2-2-2013
22362012@unknown@formal@none@1@S@Yesterday, a source close to GEC confirmed that his company may join the Ferranti fight, as part of a possible consortium that would bid against British Aerospace and Thomson-CSF.@@@@1@29@@oe@2-2-2013
22362013@unknown@formal@none@1@S@Companies with which GEC has had talks about a possible joint Ferranti bid include Matra, Britain's Dowty Group PLC, West Germany's Daimler-Benz AG, and France's Dassault group.@@@@1@27@@oe@2-2-2013
22362014@unknown@formal@none@1@S@But it may be weeks before GEC and its potential partners decide whether to bid, the source indicated.@@@@1@18@@oe@2-2-2013
22362015@unknown@formal@none@1@S@GEC plans first to study Ferranti's financial accounts, which auditors recently said included #215 million in fictitious contracts at a U.S. unit, International Signal & Control Group, with which Ferranti merged last year.@@@@1@33@@oe@2-2-2013
22362016@unknown@formal@none@1@S@Also, any GEC bid might be blocked by British antitrust regulators; Ferranti is GEC's main competitor on several key defense-electronics contracts, and its purchase by GEC may heighten British Defense Ministry worries about concentration in the country's defense industry.@@@@1@39@@oe@2-2-2013
22362017@unknown@formal@none@1@S@A consortium bid, however, would diminish GEC's direct role in Ferranti and might consequently appease ministry officials.@@@@1@17@@oe@2-2-2013
22362018@unknown@formal@none@1@S@A British Aerospace spokeswoman appeared unperturbed by the prospect of a fight with GEC for Ferranti: "Competition is the name of the game," she said.@@@@1@25@@oe@2-2-2013
22362019@unknown@formal@none@1@S@At least one potential GEC partner, Matra, insists it isn't interested in Ferranti.@@@@1@13@@oe@2-2-2013
22362020@unknown@formal@none@1@S@"We have nothing to say about this affair, which doesn't concern us," a Matra official said Sunday.@@@@1@17@@oe@2-2-2013
22362021@unknown@formal@none@1@S@The missile venture, the British Aerospace spokeswoman said, is a needed response to the "new environment" in defense contracting.@@@@1@19@@oe@2-2-2013
22362022@unknown@formal@none@1@S@For both Thomson and British Aerospace, earnings in their home markets have come under pressure from increasingly tight-fisted defense ministries; and Middle East sales, a traditional mainstay for both companies' exports, have been hurt by five years of weak oil prices.@@@@1@41@@oe@2-2-2013
22362023@unknown@formal@none@1@S@The venture's importance for Thomson is great.@@@@1@7@@oe@2-2-2013
22362024@unknown@formal@none@1@S@Thomson feels the future of its defense business depends on building cooperation with other Europeans.@@@@1@15@@oe@2-2-2013
22362025@unknown@formal@none@1@S@The European defense industry is consolidating; for instance, West Germany's Siemens AG recently joined GEC in a takeover of Britain's Plessey Co., and Daimler-Benz agreed to buy Messerschmitt-Boelkow Blohm G.m.b.H.@@@@1@30@@oe@2-2-2013
22362026@unknown@formal@none@1@S@In missiles, Thomson is already overshadowed by British Aerospace and by its home rival, France's Aerospatiale S.A.; to better compete, Thomson officials say, they need a partnership.@@@@1@27@@oe@2-2-2013
22362027@unknown@formal@none@1@S@To justify 50-50 ownership of the planned venture, Thomson would make a cash payment to British Aerospace.@@@@1@17@@oe@2-2-2013
22362028@unknown@formal@none@1@S@Annual revenue of British Aerospace's missile business is about #950 million, a Thomson spokesman said.@@@@1@15@@oe@2-2-2013
22362029@unknown@formal@none@1@S@British Aerospace's chief missile products include its 17-year-old family of Rapier surface-to-air missiles.@@@@1@13@@oe@2-2-2013
22362030@unknown@formal@none@1@S@Thomson missile products, with about half British Aerospace's annual revenue, include the Crotale surface-to-air missile family.@@@@1@16@@oe@2-2-2013
22363001@unknown@formal@none@1@S@Interprovincial Pipe Line Co. said it will delay a proposed two-step, 830 million Canadian-dollar (US$705.6 million) expansion of its system because Canada's output of crude oil is shrinking.@@@@1@28@@oe@2-2-2013
22363002@unknown@formal@none@1@S@Interprovincial, Canada's biggest oil pipeline operator and a major transporter of crude to the U.S., said revised industry forecasts indicate that Canadian oil output will total about 1.64 million barrels a day by 1991, 8% lower than a previous estimate.@@@@1@40@@oe@2-2-2013
22363003@unknown@formal@none@1@S@Canadian crude production averaged about 1.69 million barrels a day during 1989's first half, about 1% below the 1988 level.@@@@1@20@@oe@2-2-2013
22363004@unknown@formal@none@1@S@"The capability of existing fields to deliver oil is dropping," and oil exploration activity is also down dramatically, as many producers shift their emphasis to natural gas, said Ronald Watkins, vice president for government and industry relations with Interprovincial's parent, Interhome Energy Inc.@@@@1@43@@oe@2-2-2013
22363005@unknown@formal@none@1@S@Mr. Watkins said volume on Interprovincial's system is down about 2% since January and is expected to fall further, making expansion unnecessary until perhaps the mid-1990s.@@@@1@26@@oe@2-2-2013
22363006@unknown@formal@none@1@S@"There has been a swing of the pendulum back to the gas side," he said.@@@@1@15@@oe@2-2-2013
22363007@unknown@formal@none@1@S@Many of Canada's oil and gas producers say the outlook for natural gas is better than it is for oil, and have shifted their exploration and development budgets accordingly.@@@@1@29@@oe@2-2-2013
22363008@unknown@formal@none@1@S@The number of active drilling rigs in Canada is down 30% from a year ago, and the number of completed oil wells is "down more than that, due to the increasing focus on gas exploration," said Robert Feick, manager of crude oil with Calgary's Independent Petroleum Association of Canada, an industry group.@@@@1@52@@oe@2-2-2013
22363009@unknown@formal@none@1@S@Mr. Watkins said the main reason for the production decline is shrinking output of light crude from mature, conventional fields in western Canada.@@@@1@23@@oe@2-2-2013
22363010@unknown@formal@none@1@S@Interprovincial transports about 75% of all crude produced in western Canada, and almost 60% of Interprovincial's total volume consists of light crude.@@@@1@22@@oe@2-2-2013
22363011@unknown@formal@none@1@S@Nearly all of the crude oil that Canada exports to the U.S. is transported on Interprovincial's system, whose main line runs from Edmonton to major U.S. and Canadian cities in the Great Lakes region, including Chicago, Buffalo, Toronto and Montreal.@@@@1@40@@oe@2-2-2013
22363012@unknown@formal@none@1@S@Canada's current oil exports to the U.S. total about 600,000 barrels a day, or about 9.1% of net U.S. crude imports, said John Lichtblau, president of the New York-based Petroleum Industry Research Foundation.@@@@1@33@@oe@2-2-2013
22363013@unknown@formal@none@1@S@That ranks Canada as the fourth-largest source of imported crude, behind Saudi Arabia, Nigeria and Mexico.@@@@1@16@@oe@2-2-2013
22363014@unknown@formal@none@1@S@Mr. Lichtblau said Canada's declining crude output, combined with the fast-shrinking output of U.S. crude, will help intensify U.S. reliance on oil from overseas, particularly the Middle East.@@@@1@28@@oe@2-2-2013
22363015@unknown@formal@none@1@S@"It's very much a growing concern.@@@@1@6@@oe@2-2-2013
22363016@unknown@formal@none@1@S@But when something is inevitable, you learn to live with it," he said.@@@@1@13@@oe@2-2-2013
22363017@unknown@formal@none@1@S@Mr. Lichtblau stressed that the delay of Interprovincial's proposed expansion won't by itself increase U.S. dependence on offshore crude, however, since Canadian imports are limited in any case by Canada's falling output.@@@@1@32@@oe@2-2-2013
22363018@unknown@formal@none@1@S@Under terms of its proposed two-step expansion, which would have required regulatory approval, Interprovincial intended to add 200,000 barrels a day of additional capacity to its system, beginning with a modest expansion by 1991.@@@@1@34@@oe@2-2-2013
22363019@unknown@formal@none@1@S@The system currently has a capacity of 1.55 million barrels a day.@@@@1@12@@oe@2-2-2013
22364001@unknown@formal@none@1@S@Inland Steel Industries Inc. expects to report that third-quarter earnings dropped more than 50% from the previous quarter as a result of reduced sales volume and increased costs.@@@@1@28@@oe@2-2-2013
22364002@unknown@formal@none@1@S@In the second quarter, the steelmaker had net income of $45.3 million or $1.25 a share, including a pretax charge of $17 million related to the settlement of a suit, on sales of $1.11 billion.@@@@1@35@@oe@2-2-2013
22364003@unknown@formal@none@1@S@The company said normal seasonal softness and lost orders caused by prolonged labor talks reduced shipments by 200,000 tons in the latest quarter, compared with the second quarter.@@@@1@28@@oe@2-2-2013
22364004@unknown@formal@none@1@S@At the same time, the integrated-steel business was hurt by continued increases in materials costs and repair and maintenance expenses, as well as higher labor costs under its new contract.@@@@1@30@@oe@2-2-2013
22364005@unknown@formal@none@1@S@The service-center business was hurt by reduced margins and start-up costs associated with its Joseph T. Ryerson & Son unit.@@@@1@20@@oe@2-2-2013
22364006@unknown@formal@none@1@S@The company said it is beginning to see some shipping-rate improvements in both the intergrated-steel and steel-service-center segments, which should result in improved results for the fourth quarter.@@@@1@28@@oe@2-2-2013
22364007@unknown@formal@none@1@S@Inland said its third-quarter results will be announced later this week.@@@@1@11@@oe@2-2-2013
22364008@unknown@formal@none@1@S@In the year-earlier third quarter, when the industry was in the midst of a boom, the company had net of $61 million, or $1.70 a share, on sales of $1.02 billion.@@@@1@31@@oe@2-2-2013
22365001@unknown@formal@none@1@S@Predicting the financial results of computer firms has been a tough job lately.@@@@1@13@@oe@2-2-2013
22365002@unknown@formal@none@1@S@Take Microsoft Corp., the largest maker of personal computer software and generally considered an industry bellwether.@@@@1@16@@oe@2-2-2013
22365003@unknown@formal@none@1@S@In July, the company stunned Wall Street with the prediction that growth in the personal computer business overall would be only 10% in 1990, a modest increase when compared with the sizzling expansion of years past.@@@@1@36@@oe@2-2-2013
22365004@unknown@formal@none@1@S@Investors -- taking this as a sign that a broad industry slump was in the offing -- reacted by selling the company's stock, which lost $3.25 that day to close at $52 in national over-the-counter trading.@@@@1@36@@oe@2-2-2013
22365005@unknown@formal@none@1@S@But that was all of three months ago.@@@@1@8@@oe@2-2-2013
22365006@unknown@formal@none@1@S@Last week, Microsoft said it expects revenue for its first quarter ended Sept. 30 to increase 34%.@@@@1@17@@oe@2-2-2013
22365007@unknown@formal@none@1@S@The announcement caused the company's stock to surge $6.50 to close at $75.50 a share.@@@@1@15@@oe@2-2-2013
22365008@unknown@formal@none@1@S@Microsoft's surprising strength is one example of the difficulty facing investors looking for reassurances about the financial health of the computer firms.@@@@1@22@@oe@2-2-2013
22365009@unknown@formal@none@1@S@"It's hard to know what to expect at this point," said Peter Rogers, an analyst at Robertson Stephens & Co.@@@@1@20@@oe@2-2-2013
22365010@unknown@formal@none@1@S@"The industry defies characterization."@@@@1@4@@oe@2-2-2013
22365011@unknown@formal@none@1@S@To illustrate, Mr. Rogers said that of the 14 computer-related firms he follows, half will report for their most recent quarter earnings below last year's results, and half above those results.@@@@1@31@@oe@2-2-2013
22365012@unknown@formal@none@1@S@Among those companies expected to have a down quarter are Hewlett-Packard Co., Amdahl Corp. and Sun Microsystems Inc., generally solid performers in the past.@@@@1@24@@oe@2-2-2013
22365013@unknown@formal@none@1@S@International Business Machines Corp. also is expected to report disappointing results.@@@@1@11@@oe@2-2-2013
22365014@unknown@formal@none@1@S@Apple Computer Inc., meanwhile, is expected to show improved earnings for the period ended Sept.@@@@1@15@@oe@2-2-2013
22365015@unknown@formal@none@1@S@Another contradictory message comes from Businessland Inc., a computer retailer.@@@@1@10@@oe@2-2-2013
22365016@unknown@formal@none@1@S@In July, the company reported that booming sales of new personal computers from Apple and IBM had resulted in net income more than doubling for its fourth quarter ended June 30 to $7.4 million, or 23 cents a share.@@@@1@39@@oe@2-2-2013
22365017@unknown@formal@none@1@S@This month, however, Businessland warned investors that results for its first quarter ended Sept. 30 hadn't met expectations.@@@@1@18@@oe@2-2-2013
22365018@unknown@formal@none@1@S@The company said it expects earnings of 14 to 17 cents a share, down from 25 cents a share in the year-earlier period.@@@@1@23@@oe@2-2-2013
22365019@unknown@formal@none@1@S@While the earnings picture confuses, observers say the major forces expected to shape the industry in the coming year are clearer.@@@@1@21@@oe@2-2-2013
22365020@unknown@formal@none@1@S@Companies will continue to war over standards.@@@@1@7@@oe@2-2-2013
22365021@unknown@formal@none@1@S@In computer publishing, a battle over typefaces is hurting Adobe Systems Inc., which sells software that controls the image produced by printers and displays.@@@@1@24@@oe@2-2-2013
22365022@unknown@formal@none@1@S@Until recently, Adobe had a lock on the market for image software, but last month Apple, Adobe's biggest customer, and Microsoft rebelled.@@@@1@22@@oe@2-2-2013
22365023@unknown@formal@none@1@S@Now the two firms are collaborating on an alternative to Adobe's approach, and analysts say they are likely to carry IBM, the biggest seller of personal computers, along with them.@@@@1@30@@oe@2-2-2013
22365024@unknown@formal@none@1@S@The short-term outlook for Adobe's business, however, appears strong.@@@@1@9@@oe@2-2-2013
22365025@unknown@formal@none@1@S@The company is beginning to ship a new software program that's being heralded as a boon for owners of low-end printers sold by Apple.@@@@1@24@@oe@2-2-2013
22365026@unknown@formal@none@1@S@The program is aimed at improving the quality of printed material.@@@@1@11@@oe@2-2-2013
22365027@unknown@formal@none@1@S@John Warnock, Adobe's chief executive officer, said the Mountain View, Calif., company has been receiving 1,000 calls a day about the product since it was demonstrated at a computer publishing conference several weeks ago.@@@@1@34@@oe@2-2-2013
22365028@unknown@formal@none@1@S@Meanwhile, competition between various operating systems, which control the basic functions of a computer, spells trouble for software firms generally.@@@@1@20@@oe@2-2-2013
22365029@unknown@formal@none@1@S@"It creates uncertainty and usually slows down sales," said Russ Crabs, an analyst at Soundview Financial Group.@@@@1@17@@oe@2-2-2013
22365030@unknown@formal@none@1@S@Mr. Crabs said this probably is behind the expected weak performance of Aldus Corp., maker of a widely used computer publishing program.@@@@1@22@@oe@2-2-2013
22365031@unknown@formal@none@1@S@He expects Aldus to report earnings of 21 cents a share on revenues of $19.5 million for its third quarter, compared with earnings of 30 cents a share on revenue of 20.4 million in the year-earlier period.@@@@1@37@@oe@2-2-2013
22365032@unknown@formal@none@1@S@Aldus officials couldn't be reached for comment.@@@@1@7@@oe@2-2-2013
22365033@unknown@formal@none@1@S@On the other hand, the battle of the bus is expected to grow increasingly irrelevant.@@@@1@15@@oe@2-2-2013
22365034@unknown@formal@none@1@S@A bus is the data highway within a computer.@@@@1@9@@oe@2-2-2013
22365035@unknown@formal@none@1@S@IBM is backing one type of bus called microchannel, while the nine other leading computer makers, including H-P and Compaq Computer Corp., have chosen another method.@@@@1@26@@oe@2-2-2013
22365036@unknown@formal@none@1@S@"Users don't care about the bus," said Daniel Benton, an analyst at Goldman, Sachs & Co.@@@@1@16@@oe@2-2-2013
22365037@unknown@formal@none@1@S@He said Apple's family of Macintosh computers, for instance, uses four different buses "and no one seems to mind."@@@@1@19@@oe@2-2-2013
22365038@unknown@formal@none@1@S@The gap between winners and laggards will grow.@@@@1@8@@oe@2-2-2013
22365039@unknown@formal@none@1@S@In personal computers, Apple, Compaq and IBM are expected to tighten their hold on their business.@@@@1@16@@oe@2-2-2013
22365040@unknown@formal@none@1@S@At the same time, second-tier firms will continue to lose ground.@@@@1@11@@oe@2-2-2013
22365041@unknown@formal@none@1@S@Some lagging competitors even may leave the personal computer business altogether.@@@@1@11@@oe@2-2-2013
22365042@unknown@formal@none@1@S@Wyse Technology, for instance, is considered a candidate to sell its troubled operation.@@@@1@13@@oe@2-2-2013
22365043@unknown@formal@none@1@S@"Wyse has done well establishing a distribution business, but they haven't delivered products that sell," said Kimball Brown, an analyst at Prudential-Bache Securities.@@@@1@23@@oe@2-2-2013
22365044@unknown@formal@none@1@S@Mr. Brown estimates Wyse, whose terminals business is strong, will report a loss of 12 cents a share for its quarter ended Sept.@@@@1@23@@oe@2-2-2013
22365045@unknown@formal@none@1@S@Personal-computer makers will continue to eat away at the business of more traditional computer firms.@@@@1@15@@oe@2-2-2013
22365046@unknown@formal@none@1@S@Ever-more powerful desk-top computers, designed with one or more microprocessors as their "brains," are expected to increasingly take on functions carried out by more expensive minicomputers and mainframes.@@@@1@28@@oe@2-2-2013
22365047@unknown@formal@none@1@S@"The guys that make traditional hardware are really being obsoleted by microprocessor-based machines," said Mr. Benton.@@@@1@16@@oe@2-2-2013
22365048@unknown@formal@none@1@S@As a result of this trend, longtime powerhouses H-P, IBM and Digital Equipment Corp. are scrambling to counterattack with microprocessor-based systems of their own.@@@@1@24@@oe@2-2-2013
22365049@unknown@formal@none@1@S@But they will have to act quickly.@@@@1@7@@oe@2-2-2013
22365050@unknown@formal@none@1@S@Mr. Benton expects Compaq to unveil a family of high-end personal computers later this year that are powerful enough to serve as the hub for communications within large networks of desk-top machines.@@@@1@32@@oe@2-2-2013
22365051@unknown@formal@none@1@S@A raft of new computer companies also has targeted this "server" market.@@@@1@12@@oe@2-2-2013
22366001@unknown@formal@none@1@S@Population Drain Ends For Midwestern States@@@@1@6@@oe@2-2-2013
22366002@unknown@formal@none@1@S@IOWA IS MAKING a comeback.@@@@1@5@@oe@2-2-2013
22366003@unknown@formal@none@1@S@So are Indiana, Ohio and Michigan.@@@@1@6@@oe@2-2-2013
22366004@unknown@formal@none@1@S@The population of all four states is on the upswing, according to new Census Bureau estimates, following declines throughout the early 1980s.@@@@1@22@@oe@2-2-2013
22366005@unknown@formal@none@1@S@The gains, to be sure, are rather small.@@@@1@8@@oe@2-2-2013
22366006@unknown@formal@none@1@S@Iowa, for instance, saw its population grow by 11,000 people, or 0.4%, between 1987 and 1988, the Census Bureau says.@@@@1@20@@oe@2-2-2013
22366007@unknown@formal@none@1@S@Still, even that modest increase is good news for a state that hadn't grown at all since 1981.@@@@1@18@@oe@2-2-2013
22366008@unknown@formal@none@1@S@Between 1987 and 1988, North Dakota was the only state in the Midwest to lose population, a loss of 4,000 people.@@@@1@21@@oe@2-2-2013
22366009@unknown@formal@none@1@S@Six of the 12 midwestern states have been growing steadily since 1980 -- Illinois, Kansas, Minnesota, Missouri, South Dakota and Wisconsin.@@@@1@21@@oe@2-2-2013
22366010@unknown@formal@none@1@S@The Northeast has been holding its own in the population race.@@@@1@11@@oe@2-2-2013
22366011@unknown@formal@none@1@S@Seven of nine states have grown each year since 1980, including New York, which lost 4% of its population during the 1970s.@@@@1@22@@oe@2-2-2013
22366012@unknown@formal@none@1@S@And although Pennsylvania and Massachusetts suffered slight declines earlier in the decade, they are growing again.@@@@1@16@@oe@2-2-2013
22366013@unknown@formal@none@1@S@At the same time, several states in the South and West have had their own population turnaround.@@@@1@17@@oe@2-2-2013
22366014@unknown@formal@none@1@S@Seven states that grew in the early 1980s are now losing population -- West Virginia, Mississippi, Louisiana, Oklahoma, Montana, Wyoming and Alaska.@@@@1@22@@oe@2-2-2013
22366015@unknown@formal@none@1@S@Overall, though, the South and West still outpace the Northeast and Midwest, and fast-growing states like Florida and California ensure that the pattern will continue.@@@@1@25@@oe@2-2-2013
22366016@unknown@formal@none@1@S@But the growth gap between the Sun Belt and other regions has clearly started narrowing.@@@@1@15@@oe@2-2-2013
22366017@unknown@formal@none@1@S@More Elderly Maintain Their Independence@@@@1@5@@oe@2-2-2013
22366018@unknown@formal@none@1@S@THANKS TO modern medicine, more couples are growing old together.@@@@1@10@@oe@2-2-2013
22366019@unknown@formal@none@1@S@And even after losing a spouse, more of the elderly are staying independent.@@@@1@13@@oe@2-2-2013
22366020@unknown@formal@none@1@S@A new Census Bureau study of the noninstitutionalized population shows that 64% of people aged 65 to 74 were living with a spouse in 1988, up from 59% in 1970.@@@@1@30@@oe@2-2-2013
22366021@unknown@formal@none@1@S@This doesn't mean they're less likely to live alone, however.@@@@1@10@@oe@2-2-2013
22366022@unknown@formal@none@1@S@That share has remained at about 24% since 1970.@@@@1@9@@oe@2-2-2013
22366023@unknown@formal@none@1@S@What has changed is that more of the young elderly are living with spouses rather than with other relatives, such as children.@@@@1@22@@oe@2-2-2013
22366024@unknown@formal@none@1@S@In 1988, 10% of those aged 65 to 74 lived with relatives other than spouses, down from 15% in 1970.@@@@1@20@@oe@2-2-2013
22366025@unknown@formal@none@1@S@As people get even older, many become widowed.@@@@1@8@@oe@2-2-2013
22366026@unknown@formal@none@1@S@But even among those aged 75 and older, the share living with a spouse rose slightly, to 40% in 1988 from 38% in 1970.@@@@1@24@@oe@2-2-2013
22366027@unknown@formal@none@1@S@Like their younger counterparts, the older elderly are less likely to live with other relatives.@@@@1@15@@oe@2-2-2013
22366028@unknown@formal@none@1@S@Only 17% of those aged 75 and older lived with relatives other than spouses in 1988, down from 26% in 1970.@@@@1@21@@oe@2-2-2013
22366029@unknown@formal@none@1@S@The likelihood of living alone beyond the age of 75 has increased to 40% from 32%.@@@@1@16@@oe@2-2-2013
22366030@unknown@formal@none@1@S@More people are remaining independent longer presumably because they are better off physically and financially.@@@@1@15@@oe@2-2-2013
22366031@unknown@formal@none@1@S@Careers Count Most For the Well-to-Do@@@@1@6@@oe@2-2-2013
22366032@unknown@formal@none@1@S@MANY AFFLUENT people place personal success and money above family.@@@@1@10@@oe@2-2-2013
22366033@unknown@formal@none@1@S@At least that's what a survey by Ernst & Young and Yankelovich, Clancy, Shulman indicates.@@@@1@15@@oe@2-2-2013
22366034@unknown@formal@none@1@S@Two-thirds of respondents said they strongly felt the need to be successful in their jobs, while fewer than half said they strongly felt the need to spend more time with their families.@@@@1@32@@oe@2-2-2013
22366035@unknown@formal@none@1@S@Being successful in careers and spending the money they make are top priorities for this group.@@@@1@16@@oe@2-2-2013
22366036@unknown@formal@none@1@S@Unlike most studies of the affluent market, this survey excluded the super-rich.@@@@1@12@@oe@2-2-2013
22366037@unknown@formal@none@1@S@Average household income for the sample was $194,000, and average net assets were reported as $775,000.@@@@1@16@@oe@2-2-2013
22366038@unknown@formal@none@1@S@The goal was to learn about one of today's fastest-growing income groups, the upper-middle class.@@@@1@15@@oe@2-2-2013
22366039@unknown@formal@none@1@S@Although they represent only 2% of the population, they control nearly one-third of discretionary income.@@@@1@15@@oe@2-2-2013
22366040@unknown@formal@none@1@S@Across the board, these consumers value quality, buy what they like rather than just what they need, and appreciate products that are distinctive.@@@@1@23@@oe@2-2-2013
22366041@unknown@formal@none@1@S@Despite their considerable incomes and assets, 40% of the respondents in the study don't feel financially secure, and one-fourth don't feel that they have made it.@@@@1@26@@oe@2-2-2013
22366042@unknown@formal@none@1@S@Twenty percent don't even feel they are financially well off.@@@@1@10@@oe@2-2-2013
22366043@unknown@formal@none@1@S@Many of the affluent aren't comfortable with themselves, either.@@@@1@9@@oe@2-2-2013
22366044@unknown@formal@none@1@S@About 40% don't feel they're more able than others.@@@@1@9@@oe@2-2-2013
22366045@unknown@formal@none@1@S@While twothirds feel some guilt about being affluent, only 25% give $2,500 or more to charity each year.@@@@1@18@@oe@2-2-2013
22366046@unknown@formal@none@1@S@Thirty-five percent attend religious services regularly; at the same time, 60% feel that in life one sometimes has to compromise one's principles.@@@@1@22@@oe@2-2-2013
22366047@unknown@formal@none@1@S@Odds and Ends@@@@1@3@@oe@2-2-2013
22366048@unknown@formal@none@1@S@THE NUMBER of women and minorities who hold jobs in top management in the nation's largest banks has more than doubled since 1978.@@@@1@23@@oe@2-2-2013
22366049@unknown@formal@none@1@S@The American Bankers Association says that women make up 47% of officials and managers in the top 50 banks, up from 33% in 1978.@@@@1@24@@oe@2-2-2013
22366050@unknown@formal@none@1@S@The share of minorities in those positions has risen to 16% from 12%. . . .@@@@1@16@@oe@2-2-2013
22366051@unknown@formal@none@1@S@Per-capita personal income in the U.S. grew faster than inflation last year, according to the Bureau of Economic Analysis.@@@@1@19@@oe@2-2-2013
22366052@unknown@formal@none@1@S@The amount of income divvied up for each man, woman and child was $16,489 in 1988, up 6.6% from $15,472 in 1987.@@@@1@22@@oe@2-2-2013
22366053@unknown@formal@none@1@S@Per capita personal income ranged from $11,116 in Mississippi to $23,059 in Connecticut. . . .@@@@1@16@@oe@2-2-2013
22366054@unknown@formal@none@1@S@There are 13.1 million students in college this fall, up 2% from 1988, the National Center for Education Statistics estimates.@@@@1@20@@oe@2-2-2013
22366055@unknown@formal@none@1@S@About 54% are women, and 44% are part-time students.@@@@1@9@@oe@2-2-2013
22367001@unknown@formal@none@1@S@This small Dallas suburb's got trouble.@@@@1@6@@oe@2-2-2013
22367002@unknown@formal@none@1@S@Trouble with a capital T and that rhymes with P and that stands for pool.@@@@1@15@@oe@2-2-2013
22367003@unknown@formal@none@1@S@More than 30 years ago, Prof. Harold Hill, the con man in Meredith Willson's "The Music Man," warned the citizens of River City, Iowa, against the game.@@@@1@27@@oe@2-2-2013
22367004@unknown@formal@none@1@S@Now kindred spirits on Addison's town council have barred the town's fanciest hotel, the Grand Kempinski, from installing three free pool tables in its new lounge.@@@@1@26@@oe@2-2-2013
22367005@unknown@formal@none@1@S@Mayor Lynn Spruill and two members of the council said they were worried about setting a precedent that would permit pool halls along Addison's main street.@@@@1@26@@oe@2-2-2013
22367006@unknown@formal@none@1@S@And the mayor, in an admonition that bears a rhythmic resemblance to Prof. Hill's, warned that "alcohol leads to betting, which leads to fights."@@@@1@24@@oe@2-2-2013
22367007@unknown@formal@none@1@S@The council's action is yet another blow to a sport that its fans claim has been maligned unjustly for years.@@@@1@20@@oe@2-2-2013
22367008@unknown@formal@none@1@S@"Obviously they're not in touch with what's going on," says Tom Manske, vice president of the National Pocket Billiards Association.@@@@1@20@@oe@2-2-2013
22367009@unknown@formal@none@1@S@Pool is hot in New York and Chicago, he insists, where "upscale, suit-and-tie places" are adding tables.@@@@1@17@@oe@2-2-2013
22367010@unknown@formal@none@1@S@With today's tougher drunk driving laws, he adds, "people don't want to just sit around and drink."@@@@1@17@@oe@2-2-2013
22367011@unknown@formal@none@1@S@Besides, rowdy behavior seems unlikely at the Grand Kempinski, where rooms average $200 a night and the cheap mixed drinks go for $3.50 a pop.@@@@1@25@@oe@2-2-2013
22367012@unknown@formal@none@1@S@At the lounge, manager Elizabeth Dyer won't admit patrons in jeans, T-shirts or tennis shoes.@@@@1@15@@oe@2-2-2013
22367013@unknown@formal@none@1@S@But a majority of the Addison council didn't buy those arguments.@@@@1@11@@oe@2-2-2013
22367014@unknown@formal@none@1@S@Introducing pool, argued Councilwoman Riley Reinker, would be "dangerous.@@@@1@9@@oe@2-2-2013
22367015@unknown@formal@none@1@S@It would open a can of worms."@@@@1@7@@oe@2-2-2013
22367016@unknown@formal@none@1@S@Addison is no stranger to cans of worms, either.@@@@1@9@@oe@2-2-2013
22367017@unknown@formal@none@1@S@After its previous mayor committed suicide last year, an investigation disclosed that town officials regularly voted on their own projects, gave special favors to developer friends and dipped into the town's coffers for trips and retreats.@@@@1@36@@oe@2-2-2013
22367018@unknown@formal@none@1@S@The revelations embarrassed town officials, although they argued that the problems weren't as severe as the media suggested.@@@@1@18@@oe@2-2-2013
22367019@unknown@formal@none@1@S@Now comes the pool flap.@@@@1@5@@oe@2-2-2013
22367020@unknown@formal@none@1@S@"I think there's some people worried about something pretty ridiculous," Councilman John Nolan says.@@@@1@14@@oe@2-2-2013
22367021@unknown@formal@none@1@S@"I thought this was all taken care of in `The Music Man.@@@@1@12@@oe@2-2-2013
22368001@unknown@formal@none@1@S@The only thing Robert Goldberg could praise about CBS's new show "Island Son" (Leisure & Arts, Sept. 25) was the local color; unfortunately neither he nor the producers of the show have done their homework.@@@@1@35@@oe@2-2-2013
22368002@unknown@formal@none@1@S@For instance: "Haole" (white) is not the ultimate insult; "Mainland haole" is.@@@@1@12@@oe@2-2-2013
22368003@unknown@formal@none@1@S@Richard Chamberlain dresses as a "Mainland haole," tucking in a Hawaiian shirt and rolling up its long sleeves.@@@@1@18@@oe@2-2-2013
22368004@unknown@formal@none@1@S@And the local expression for brother is "brah," not "bruddah."@@@@1@10@@oe@2-2-2013
22368005@unknown@formal@none@1@S@And even if a nurse would wear flowers in her hair while on duty, if she were engaged she would know to wear them behind her left, not right, ear.@@@@1@30@@oe@2-2-2013
22368006@unknown@formal@none@1@S@Sorry, the show does not even have the one redeeming quality of genuine local color.@@@@1@15@@oe@2-2-2013
22368007@unknown@formal@none@1@S@Anita Davis@@@@1@2@@oe@2-2-2013
22369001@unknown@formal@none@1@S@Of all the ethnic tensions in America, which is the most troublesome right now?@@@@1@14@@oe@2-2-2013
22369002@unknown@formal@none@1@S@A good bet would be the tension between blacks and Jews in New York City.@@@@1@15@@oe@2-2-2013
22369003@unknown@formal@none@1@S@Or so it must seem to Jackie Mason, the veteran Jewish comedian appearing in a new ABC sitcom airing on Tuesday nights (9:30-10 p.m. EDT).@@@@1@25@@oe@2-2-2013
22369004@unknown@formal@none@1@S@Not only is Mr. Mason the star of "Chicken Soup," he's also the inheritor of a comedic tradition dating back to "Duck Soup," and he's currently a man in hot water.@@@@1@31@@oe@2-2-2013
22369005@unknown@formal@none@1@S@Here, in neutral language, is the gist of Mr. Mason's remarks, quoted first in the Village Voice while he was a paid spokesman for the Rudolph Giuliani mayoral campaign, and then in Newsweek after he and the campaign parted company.@@@@1@40@@oe@2-2-2013
22369006@unknown@formal@none@1@S@Mr. Mason said that many Jewish voters feel guilty toward blacks, so they support black candidates uncritically.@@@@1@17@@oe@2-2-2013
22369007@unknown@formal@none@1@S@He said that many black voters feel bitter about racial discrimination, so they, too, support black candidates uncritically.@@@@1@18@@oe@2-2-2013
22369008@unknown@formal@none@1@S@He said that Jews have contributed more to black causes over the years than vice versa.@@@@1@16@@oe@2-2-2013
22369009@unknown@formal@none@1@S@Of course, Mr. Mason did not use neutral language.@@@@1@9@@oe@2-2-2013
22369010@unknown@formal@none@1@S@As a practitioner of ethnic humor from the old days on the Borscht Belt, live television and the nightclub circuit, Mr. Mason instinctively reached for the vernacular.@@@@1@27@@oe@2-2-2013
22369011@unknown@formal@none@1@S@He said Jews were "sick with complexes"; and he called David Dinkins, Mr. Giuliani's black opponent, "a fancy shvartze with a mustache."@@@@1@22@@oe@2-2-2013
22369012@unknown@formal@none@1@S@If Mr. Mason had used less derogatory language to articulate his amateur analysis of the voting behavior of his fellow New Yorkers, would the water be quite so hot?@@@@1@29@@oe@2-2-2013
22369013@unknown@formal@none@1@S@It probably would, because few or none of the people upset by Mr. Mason's remarks have bothered to distinguish between the substance of his comments and the fact that he used insulting language.@@@@1@33@@oe@2-2-2013
22369014@unknown@formal@none@1@S@In addition, some of Mr. Mason's critics have implied that his type of ethnic humor is itself a form of racism.@@@@1@21@@oe@2-2-2013
22369015@unknown@formal@none@1@S@For example, the New York state counsel for the NAACP said that Mr. Mason is "like a dinosaur.@@@@1@18@@oe@2-2-2013
22369016@unknown@formal@none@1@S@People are fast leaving the place where he is stuck."@@@@1@10@@oe@2-2-2013
22369017@unknown@formal@none@1@S@These critics fail to distinguish between the type of ethnic humor that aims at disparaging another group, such as "Polish jokes"; and the type that is double-edged, aiming inward as well as outward.@@@@1@33@@oe@2-2-2013
22369018@unknown@formal@none@1@S@The latter typically is the humor of the underdog, and it was perfected by both blacks and Jews on the minstrel and vaudeville stage as a means of mocking their white and gentile audiences along with themselves.@@@@1@37@@oe@2-2-2013
22369019@unknown@formal@none@1@S@In the hands of a zealot like Lenny Bruce, this double-edged blade could cut both the self and the audience to ribbons.@@@@1@22@@oe@2-2-2013
22369020@unknown@formal@none@1@S@But wielded by a pro like Jackie Mason, it is a constructive form of mischief.@@@@1@15@@oe@2-2-2013
22369021@unknown@formal@none@1@S@Why constructive?@@@@1@2@@oe@2-2-2013
22369022@unknown@formal@none@1@S@Because despite all the media prattle about comedy and politics not mixing, they are similar in one respect: Both can serve as mechanisms for easing tensions and facilitating the co-existence of groups in conflict.@@@@1@34@@oe@2-2-2013
22369023@unknown@formal@none@1@S@That's why it's dangerous to have well-intentioned thought police, on college campuses and elsewhere, taboo all critical mention of group differences.@@@@1@21@@oe@2-2-2013
22369024@unknown@formal@none@1@S@As Elizabeth Kristol wrote in the New York Times just before the Mason donnybrook, "Perhaps intolerance would not boil over with such intensity if honest differences were allowed to simmer."@@@@1@30@@oe@2-2-2013
22369025@unknown@formal@none@1@S@The question is, if group conflicts still exist (as undeniably they do), and if Mr. Mason's type of ethnic humor is passe, then what other means do we have for letting off steam?@@@@1@33@@oe@2-2-2013
22369026@unknown@formal@none@1@S@Don't say the TV sitcom, because that happens to be a genre that, in its desperate need to attract everybody and offend nobody, resembles politics more than it does comedy.@@@@1@30@@oe@2-2-2013
22369027@unknown@formal@none@1@S@It is true that the best sitcoms do allow group differences to simmer: yuppies vs. blue-collar Bostonians in "Cheers"; children vs. adults in "The Cosby Show."@@@@1@26@@oe@2-2-2013
22369028@unknown@formal@none@1@S@But these are not the differences that make headlines.@@@@1@9@@oe@2-2-2013
22369029@unknown@formal@none@1@S@In "Chicken Soup," Mr. Mason plays Jackie, a Jewish bachelor courting Maddie (Lynn Redgrave), an Irish widow and mother of three, against the wishes of his mother (Rita Karin) and her brother Michael (Brandon Maggart).@@@@1@35@@oe@2-2-2013
22369030@unknown@formal@none@1@S@It's worth noting that both disapproving relatives are immigrants.@@@@1@9@@oe@2-2-2013
22369031@unknown@formal@none@1@S@At least, they both speak with strong accents, as do Jackie and Maddie.@@@@1@13@@oe@2-2-2013
22369032@unknown@formal@none@1@S@It couldn't be more obvious that "Chicken Soup" is being made from an old recipe.@@@@1@15@@oe@2-2-2013
22369033@unknown@formal@none@1@S@And a safe one -- imagine if the romance in question were between an Orthodox Jew and a member of the Nation of Islam.@@@@1@24@@oe@2-2-2013
22369034@unknown@formal@none@1@S@Back in the 1920s, the play and movie versions of "Abie's Irish Rose" made the theme of courtship between the assimilated offspring of Jewish and Irish immigrants so popular that its author, Anne Nichols, lost a plagiarism suit on the grounds that the plot has entered the public domain.@@@@1@49@@oe@2-2-2013
22369035@unknown@formal@none@1@S@And it has remained there, as evidenced by its reappearance in a 1972 CBS sitcom called "Bridget Loves Bernie," whose sole distinction was that it led to the real-life marriage of Meredith Baxter and David Birney.@@@@1@36@@oe@2-2-2013
22369036@unknown@formal@none@1@S@Clearly, the question with "Chicken Soup" is not whether the pot will boil over, but whether it will simmer at all.@@@@1@21@@oe@2-2-2013
22369037@unknown@formal@none@1@S@So far, the bubbles have been few and far between.@@@@1@10@@oe@2-2-2013
22369038@unknown@formal@none@1@S@Part of the problem is the tendency of all sitcoms, ever since the didactic days of Norman Lear, to preach about social issues.@@@@1@23@@oe@2-2-2013
22369039@unknown@formal@none@1@S@To some extent, this tendency emerges whenever the show tries to enlighten us about ethnic stereotypes by reversing them.@@@@1@19@@oe@2-2-2013
22369040@unknown@formal@none@1@S@For instance, Michael dislikes Jackie not because he's a shrewd Jewish businessman, but because he quits his well-paying job as a salesman in order to become a social worker.@@@@1@29@@oe@2-2-2013
22369041@unknown@formal@none@1@S@Even more problematic is the incompatibility between sitcom preachiness and Mr. Mason's comic persona.@@@@1@14@@oe@2-2-2013
22369042@unknown@formal@none@1@S@The best moments in the show occur at the beginning and the end (and occasionally in the middle), when Mr. Mason slips into his standup mode and starts meting out that old-fashioned Jewish mischief to other people as well as to himself.@@@@1@42@@oe@2-2-2013
22369043@unknown@formal@none@1@S@But too often, these routines lack spark because this sitcom, like all sitcoms, is timid about confronting Mr. Mason's stock in trade-ethnic differences.@@@@1@23@@oe@2-2-2013
22369044@unknown@formal@none@1@S@I'm not suggesting that the producers start putting together episodes about topics like the Catholic-Jewish dispute over the Carmelite convent at Auschwitz.@@@@1@22@@oe@2-2-2013
22369045@unknown@formal@none@1@S@That issue, like racial tensions in New York City, will have to cool down, not heat up, before it can simmer.@@@@1@21@@oe@2-2-2013
22369046@unknown@formal@none@1@S@But I am suggesting that they stop requiring Mr. Mason to interrupt his classic shtik with some line about "caring for other people" that would sound shmaltzy on the lips of Miss America.@@@@1@33@@oe@2-2-2013
22369047@unknown@formal@none@1@S@At your age, Jackie, you ought to know that you can't make soup without turning up the flame.@@@@1@18@@oe@2-2-2013
22370001@unknown@formal@none@1@S@The official White House reaction to a plunge in stock prices has a 60-year history of calm, right up through Friday.@@@@1@21@@oe@2-2-2013
22370002@unknown@formal@none@1@S@Treasury Secretary Nicholas Brady said in a statement Friday that the stock-market decline "doesn't signal any fundamental change in the condition of the economy."@@@@1@24@@oe@2-2-2013
22370003@unknown@formal@none@1@S@"The economy," he added, "remains well-balanced and the outlook is for continued moderate growth."@@@@1@14@@oe@2-2-2013
22370004@unknown@formal@none@1@S@Sound familiar?@@@@1@2@@oe@2-2-2013
22370005@unknown@formal@none@1@S@Here's what Ronald Reagan said after the 1987 crash: "The underlying economy remains sound.@@@@1@14@@oe@2-2-2013
22370006@unknown@formal@none@1@S@There is nothing wrong with the economy . . . all the indices are up."@@@@1@15@@oe@2-2-2013
22370007@unknown@formal@none@1@S@Heard that before?@@@@1@3@@oe@2-2-2013
22370008@unknown@formal@none@1@S@After the 1929 crash, Herbert Hoover said: "The fundamental business of the country . . . is on a sound and prosperous basis.@@@@1@23@@oe@2-2-2013
22371001@unknown@formal@none@1@S@James Robinson, 57 years old, was elected president and chief executive officer of this maker of magnetic recording heads for disk drives.@@@@1@22@@oe@2-2-2013
22371002@unknown@formal@none@1@S@He has been president and chief executive officer of Amperex Electronics Corp., a division of North American Philips Corp., itself a subsidiary of N.V. Philips of the Netherlands.@@@@1@28@@oe@2-2-2013
22371003@unknown@formal@none@1@S@Charles J. Lawson Jr., 68, who had been acting chief executive since June 14, will continue as chairman.@@@@1@18@@oe@2-2-2013
22371004@unknown@formal@none@1@S@The former president and chief executive, Eric W. Markrud, resigned in June.@@@@1@12@@oe@2-2-2013
22372001@unknown@formal@none@1@S@The Senate's decision to approve a bare-bones deficit-reduction bill without a capital-gains tax cut still leaves open the possibility of enacting a gains tax reduction this year.@@@@1@27@@oe@2-2-2013
22372002@unknown@formal@none@1@S@Late Friday night, the Senate voted 87-7 to approve an estimated $13.5 billion measure that had been stripped of hundreds of provisions that would have widened, rather than narrowed, the federal budget deficit.@@@@1@33@@oe@2-2-2013
22372003@unknown@formal@none@1@S@Lawmakers drastically streamlined the bill to blunt criticism that it was bloated with special-interest tax breaks and spending increases.@@@@1@19@@oe@2-2-2013
22372004@unknown@formal@none@1@S@"We're putting a deficit-reduction bill back in the category of being a deficit-reduction bill," said Senate Budget Committee Chairman James Sasser (D., Tenn.).@@@@1@23@@oe@2-2-2013
22372005@unknown@formal@none@1@S@But Senate supporters of the trimmer legislation said that other bills would soon be moving through Congress that could carry some of the measures that had been cast aside, including a capital-gains tax cut.@@@@1@34@@oe@2-2-2013
22372006@unknown@formal@none@1@S@In addition, the companion deficit-reduction bill already passed by the House includes a capital-gains provision.@@@@1@15@@oe@2-2-2013
22372007@unknown@formal@none@1@S@House-Senate negotiations are likely to begin at midweek and last for a while.@@@@1@13@@oe@2-2-2013
22372008@unknown@formal@none@1@S@"No one can predict exactly what will happen on the House side," said Senate Minority Leader Robert Dole (R., Kan.).@@@@1@20@@oe@2-2-2013
22372009@unknown@formal@none@1@S@But, he added, "I believe Republicans and Democrats will work together to get capital-gains reform this year."@@@@1@17@@oe@2-2-2013
22372010@unknown@formal@none@1@S@White House Budget Director Richard Darman told reporters yesterday that the administration wouldn't push to keep the capital-gains cut in the final version of the bill.@@@@1@26@@oe@2-2-2013
22372011@unknown@formal@none@1@S@"We don't need this as a way to get capital gains," he said.@@@@1@13@@oe@2-2-2013
22372012@unknown@formal@none@1@S@House Budget Committee Chairman Leon Panetta (D., Calif.) said in an interview, "If that's the signal that comes from the White House, that will help a great deal."@@@@1@28@@oe@2-2-2013
22372013@unknown@formal@none@1@S@The Senate's decision was a setback for President Bush and will make approval of a capital-gains tax cut less certain this year.@@@@1@22@@oe@2-2-2013
22372014@unknown@formal@none@1@S@Opponents of the cut are playing hardball.@@@@1@7@@oe@2-2-2013
22372015@unknown@formal@none@1@S@Senate Majority Leader George Mitchell (D., Maine) said he was "confident" that any House-Senate agreement on the deficit-reduction legislation wouldn't include a capital-gains tax cut.@@@@1@25@@oe@2-2-2013
22372016@unknown@formal@none@1@S@And a senior aide to the House Ways and Means Committee, where tax legislation originates, said there aren't any "plans to produce another tax bill that could carry a gains tax cut this year."@@@@1@34@@oe@2-2-2013
22372017@unknown@formal@none@1@S@One obvious place to attach a capital-gains tax cut, and perhaps other popular items stripped from the deficit-reduction bill, is the legislation to raise the federal borrowing limit.@@@@1@28@@oe@2-2-2013
22372018@unknown@formal@none@1@S@Such legislation must be enacted by the end of the month.@@@@1@11@@oe@2-2-2013
22372019@unknown@formal@none@1@S@The Senate bill was pared back in an attempt to speed deficit-reduction through Congress.@@@@1@14@@oe@2-2-2013
22372020@unknown@formal@none@1@S@Because the legislation hasn't been completed, President Bush has until midnight tonight to enact across-the-board spending cuts mandated by the Gramm-Rudman deficit-reduction law.@@@@1@23@@oe@2-2-2013
22372021@unknown@formal@none@1@S@Senators hope that the need to avoid those cuts will pressure the House to agree to the streamlined bill.@@@@1@19@@oe@2-2-2013
22372022@unknown@formal@none@1@S@The House appears reluctant to join the senators.@@@@1@8@@oe@2-2-2013
22372023@unknown@formal@none@1@S@A key is whether House Republicans are willing to acquiesce to their Senate colleagues' decision to drop many pet provisions.@@@@1@20@@oe@2-2-2013
22372024@unknown@formal@none@1@S@"Although I am encouraged by the Senate action," said Chairman Dan Rostenkowski (D., Ill.) of the House Ways and Means Committee, "it is uncertain whether a clean bill can be achieved in the upcoming conference with the Senate."@@@@1@38@@oe@2-2-2013
22372025@unknown@formal@none@1@S@Another big question hovering over the debate is what President Bush thinks.@@@@1@12@@oe@2-2-2013
22372026@unknown@formal@none@1@S@He has been resisting a stripped-down bill without a guaranteed vote on his capital-gains tax cut.@@@@1@16@@oe@2-2-2013
22372027@unknown@formal@none@1@S@But Republican senators saw no way to overcome a procedural hurdle and garner the 60 votes needed to win the capital-gains issue on the floor, so they went ahead with the streamlined bill.@@@@1@33@@oe@2-2-2013
22372028@unknown@formal@none@1@S@The Senate bill was stripped of many popular, though revenue-losing, provisions, a number of which are included in the House-passed bill.@@@@1@21@@oe@2-2-2013
22372029@unknown@formal@none@1@S@These include a child-care initiative and extensions of soon-to-expire tax breaks for low-income housing and research-and-development expenditures.@@@@1@17@@oe@2-2-2013
22372030@unknown@formal@none@1@S@Also missing from the Senate bill is the House's repeal of a law, called Section 89, that compels companies to give rank-and-file workers comparable health benefits to top paid executives.@@@@1@30@@oe@2-2-2013
22372031@unknown@formal@none@1@S@One high-profile provision that was originally in the Senate bill but was cut out because it lost money was the proposal by Chairman Lloyd Bentsen (D., Texas) of the Senate Finance Committee to expand the deduction for individual retirement accounts.@@@@1@40@@oe@2-2-2013
22372032@unknown@formal@none@1@S@Mr. Bentsen said he hopes the Senate will consider that measure soon.@@@@1@12@@oe@2-2-2013
22372033@unknown@formal@none@1@S@To the delight of some doctors, the bill dropped a plan passed by the Finance Committee that would have overhauled the entire physician-reimbursement system under Medicare.@@@@1@26@@oe@2-2-2013
22372034@unknown@formal@none@1@S@To the detriment of many low-income people, efforts to boost Medicaid funding, especially in rural areas, also were stricken.@@@@1@19@@oe@2-2-2013
22372035@unknown@formal@none@1@S@Asked why senators were giving up so much, New Mexico Sen. Pete Domenici, the ranking Republican on the Senate Budget Committee, said, "We're looking like idiots.@@@@1@26@@oe@2-2-2013
22372036@unknown@formal@none@1@S@Things had just gone too far."@@@@1@6@@oe@2-2-2013
22372037@unknown@formal@none@1@S@Sen. Dole said that the move required sacrifice by every senator.@@@@1@11@@oe@2-2-2013
22372038@unknown@formal@none@1@S@It worked, others said, because there were no exceptions: all revenue-losing provisions were stricken.@@@@1@14@@oe@2-2-2013
22372039@unknown@formal@none@1@S@The Senate also dropped a plan by its Finance Committee that would have increased the income threshold beyond which senior citizens have their Social Security benefits reduced.@@@@1@27@@oe@2-2-2013
22372040@unknown@formal@none@1@S@In addition, the bill dropped a plan to make permanent a 3% excise tax on long-distance telephone calls.@@@@1@18@@oe@2-2-2013
22372041@unknown@formal@none@1@S@It no longer includes a plan that would have repealed what remains of the completed-contract method of accounting, which is used by military contractors to reduce their tax burden.@@@@1@29@@oe@2-2-2013
22372042@unknown@formal@none@1@S@It also drops a provision that would have permitted corporations to use excess pension funds to pay health benefits for current retirees.@@@@1@22@@oe@2-2-2013
22372043@unknown@formal@none@1@S@Also stricken was a fivefold increase in the maximum Occupational Safety and Health Administration penalties, which would have raised $65 million in fiscal 1990.@@@@1@24@@oe@2-2-2013
22372044@unknown@formal@none@1@S@A provision that would have made the Social Security Administration an independent agency was excised.@@@@1@15@@oe@2-2-2013
22372045@unknown@formal@none@1@S@The approval of the Senate bill was especially sweet for Sen. Mitchell, who had proposed the streamlining.@@@@1@17@@oe@2-2-2013
22372046@unknown@formal@none@1@S@Mr. Mitchell's relations with Budget Director Darman, who pushed for a capital-gains cut to be added to the measure, have been strained since Mr. Darman chose to bypass the Maine Democrat and deal with other lawmakers earlier this year during a dispute over drug funding in the fiscal 1989 supplemental spending bill.@@@@1@52@@oe@2-2-2013
22372047@unknown@formal@none@1@S@The deficit reduction bill contains $5.3 billion in tax increases in fiscal 1990, and $26 billion over five years.@@@@1@19@@oe@2-2-2013
22372048@unknown@formal@none@1@S@The revenue-raising provisions, which affect mostly corporations, would:@@@@1@8@@oe@2-2-2013
22372049@unknown@formal@none@1@S@-- Prevent companies that have made leveraged buy-outs from getting federal tax refunds resulting from losses caused by interest payments on debt issued to finance the buy-outs, effective Aug. 2, 1989.@@@@1@31@@oe@2-2-2013
22372050@unknown@formal@none@1@S@-- Require mutual funds to include in their taxable income dividends paid to them on the date that the dividends are declared rather than received, effective the day after the tax bill is enacted.@@@@1@34@@oe@2-2-2013
22372051@unknown@formal@none@1@S@-- Close a loophole regarding employee stock ownership plans, effective June 6, 1989, that has been exploited by investment bankers in corporate takeovers.@@@@1@23@@oe@2-2-2013
22372052@unknown@formal@none@1@S@The measure repeals a 50% exclusion given to banks on the interest from loans used to acquire securities for an ESOP, if the ESOP owns less than 30% of the employer's stock.@@@@1@32@@oe@2-2-2013
22372053@unknown@formal@none@1@S@-- Curb junk bonds by ending tax benefits for certain securities, such as zero-coupon bonds, that postpone cash interest payments.@@@@1@20@@oe@2-2-2013
22372054@unknown@formal@none@1@S@-- Raise $851 million by suspending for one year an automatic reduction in airport and airway taxes.@@@@1@17@@oe@2-2-2013
22372055@unknown@formal@none@1@S@-- Speed up the collection of the payroll tax from large companies, effective August 1990.@@@@1@15@@oe@2-2-2013
22372056@unknown@formal@none@1@S@-- Impose a tax on ozone-depleting chemicals, such as those used in air conditioners and in Styrofoam, beginning at $1.10 a pound starting next year.@@@@1@25@@oe@2-2-2013
22372057@unknown@formal@none@1@S@-- Withhold income taxes from the paychecks of certain farm workers currently exempt from withholding.@@@@1@15@@oe@2-2-2013
22372058@unknown@formal@none@1@S@-- Change the collection of gasoline excise taxes to weekly from semimonthly, effective next year.@@@@1@15@@oe@2-2-2013
22372059@unknown@formal@none@1@S@-- Restrict the ability of real estate owners to escape taxes by swapping one piece of property for another instead of selling it for cash.@@@@1@25@@oe@2-2-2013
22372060@unknown@formal@none@1@S@-- Increase to $6 a person from $3 the international air-passenger departure tax, and impose a $3-a-person tax on international departures by commercial ships.@@@@1@24@@oe@2-2-2013
22372061@unknown@formal@none@1@S@The measure also includes spending cuts and increases in federal fees.@@@@1@11@@oe@2-2-2013
22372062@unknown@formal@none@1@S@Among its provisions:@@@@1@3@@oe@2-2-2013
22372063@unknown@formal@none@1@S@-- Reduction of Medicare spending in fiscal 1990 by some $2.8 billion, in part by curbing increases in reimbursements to physicians.@@@@1@21@@oe@2-2-2013
22372064@unknown@formal@none@1@S@The plan would impose a brief freeze on physician fees next year.@@@@1@12@@oe@2-2-2013
22372065@unknown@formal@none@1@S@-- Removal of the U.S. Postal Service's operating budget from the federal budget, reducing the deficit by $1.77 billion.@@@@1@19@@oe@2-2-2013
22372066@unknown@formal@none@1@S@A similar provision is in the House version.@@@@1@8@@oe@2-2-2013
22372067@unknown@formal@none@1@S@-- Authority for the Federal Aviation Administration to raise $239 million by charging fees for commercial airline-landing rights at New York's LaGuardia and John F. Kennedy International Airports, O'Hare International Airport in Chicago and National Airport in Washington.@@@@1@38@@oe@2-2-2013
22372068@unknown@formal@none@1@S@-- Increases in Nuclear Regulatory Commission fees totaling $54 million.@@@@1@10@@oe@2-2-2013
22372069@unknown@formal@none@1@S@-- Direction to the U.S. Coast Guard to collect $50 million from users of Coast Guard services.@@@@1@17@@oe@2-2-2013
22372070@unknown@formal@none@1@S@-- Raising an additional $43 million by increasing existing Federal Communications Commission fees and penalties and establishing new fees for amateur radio operators, ship stations and mobile radio facilities.@@@@1@29@@oe@2-2-2013
22372071@unknown@formal@none@1@S@John E. Yang contributed to this article.@@@@1@7@@oe@2-2-2013
22373001@unknown@formal@none@1@S@In response to your overly optimistic, outdated piece on how long unemployment lasts (People Patterns, Sept. 20): I am in the communications field, above entry level.@@@@1@26@@oe@2-2-2013
22373002@unknown@formal@none@1@S@I was laid off in August 1988, and after a thorough and exhausting job search, was hired in August 1989.@@@@1@20@@oe@2-2-2013
22373003@unknown@formal@none@1@S@My unemployment insurance ran out before I found a job; I found cutbacks and layoffs in many companies.@@@@1@18@@oe@2-2-2013
22373004@unknown@formal@none@1@S@The statistics quoted by the "new" Census Bureau report (garnered from 1984 to 1986) are out of date, certainly as an average for the Northeast, and possibly for the rest of the country.@@@@1@33@@oe@2-2-2013
22373005@unknown@formal@none@1@S@I think what bothered me most about the piece was that there seemed to be an underlying attitude to tell your readers all is well -- if you're getting laid off don't worry, and if you're unemployed, it's a seller's market.@@@@1@41@@oe@2-2-2013
22373006@unknown@formal@none@1@S@To top it off, you captioned the graph showing the average number of months in a job search as "Time Off."@@@@1@21@@oe@2-2-2013
22373007@unknown@formal@none@1@S@Are you kidding?@@@@1@3@@oe@2-2-2013
22373008@unknown@formal@none@1@S@Looking for a job was one of the most anxious periods of my life -- and is for most people.@@@@1@20@@oe@2-2-2013
22373009@unknown@formal@none@1@S@Your paper needs a serious reality check.@@@@1@7@@oe@2-2-2013
22373010@unknown@formal@none@1@S@Reva Levin@@@@1@2@@oe@2-2-2013
22373011@unknown@formal@none@1@S@Cambridge, Mass.@@@@1@2@@oe@2-2-2013
22374001@unknown@formal@none@1@S@BULL HN INFORMATION SYSTEMS Inc. is a U.S. majority-owned unit of Cie. des Machines Bull.@@@@1@15@@oe@2-2-2013
22374002@unknown@formal@none@1@S@In Friday's edition, the name of the unit was misstated.@@@@1@10@@oe@2-2-2013
22375001@unknown@formal@none@1@S@Moody's Investors Service said it reduced its rating on $165 million of subordinated debt of this Beverly Hills, Calif., thrift, citing turmoil in the market for low-grade, high-yield securities.@@@@1@29@@oe@2-2-2013
22375002@unknown@formal@none@1@S@The agency said it reduced its rating on the thrift's subordinated debt to B-2 from Ba-2 and will keep the debt under review for possible further downgrade.@@@@1@27@@oe@2-2-2013
22375003@unknown@formal@none@1@S@Columbia Savings is a major holder of so-called junk bonds.@@@@1@10@@oe@2-2-2013
22375004@unknown@formal@none@1@S@New federal legislation requires that all thrifts divest themselves of such speculative securities over a period of years.@@@@1@18@@oe@2-2-2013
22375005@unknown@formal@none@1@S@Columbia Savings officials weren't available for comment on the downgrade.@@@@1@10@@oe@2-2-2013
22375006@unknown@formal@none@1@S@FRANKLIN SAVINGS ASSOCIATION (Ottawa, Kan.) --@@@@1@6@@oe@2-2-2013
22375007@unknown@formal@none@1@S@Moody's Investors Service Inc. said it downgraded its rating to B-2 from Ba-3 on less than $20 million of this thrift's senior subordinated notes.@@@@1@24@@oe@2-2-2013
22375008@unknown@formal@none@1@S@The rating concern said Franklin's "troubled diversification record in the securities business" was one reason for the downgrade, citing the troubles at its L.F. Rothschild subsidiary and the possible sale of other subsidiaries.@@@@1@33@@oe@2-2-2013
22375009@unknown@formal@none@1@S@"They perhaps had concern that we were getting out of all these," said Franklin President Duane H. Hall.@@@@1@18@@oe@2-2-2013
22375010@unknown@formal@none@1@S@"I think it was a little premature on their part.@@@@1@10@@oe@2-2-2013
22376001@unknown@formal@none@1@S@Just when it seemed safe to go back into stocks, Wall Street suffered another severe attack of nerves.@@@@1@18@@oe@2-2-2013
22376002@unknown@formal@none@1@S@Does this signal another Black Monday is coming?@@@@1@8@@oe@2-2-2013
22376003@unknown@formal@none@1@S@Or is this an extraordinary buying opportunity, just like Oct. 19, 1987, eventually turned out to be?@@@@1@17@@oe@2-2-2013
22376004@unknown@formal@none@1@S@Here's what several leading market experts and money managers say about Friday's action, what happens next and what investors should do.@@@@1@21@@oe@2-2-2013
22376005@unknown@formal@none@1@S@Joseph Granville.@@@@1@2@@oe@2-2-2013
22376006@unknown@formal@none@1@S@"I'm the only one who said there would be an October massacre, all through late August and September," says Mr. Granville, once a widely followed market guru and still a well-known newsletter writer.@@@@1@33@@oe@2-2-2013
22376007@unknown@formal@none@1@S@"Everyone will tell you that this time is different from 1987," he says.@@@@1@13@@oe@2-2-2013
22376008@unknown@formal@none@1@S@"Well, in some ways it is different, but technically it is just the same.@@@@1@14@@oe@2-2-2013
22376009@unknown@formal@none@1@S@If you're a technician, you obey the signals.@@@@1@8@@oe@2-2-2013
22376010@unknown@formal@none@1@S@Right now they're telling me to get the hell out and stay out.@@@@1@13@@oe@2-2-2013
22376011@unknown@formal@none@1@S@I see no major support until 2200.@@@@1@7@@oe@2-2-2013
22376012@unknown@formal@none@1@S@I see a possibility of going to 2200 this month."@@@@1@10@@oe@2-2-2013
22376013@unknown@formal@none@1@S@Mr. Granville says he wouldn't even think of buying until at least 600 to 700 stocks have hit 52-week lows; about 100 stocks hit new lows Friday.@@@@1@27@@oe@2-2-2013
22376014@unknown@formal@none@1@S@"Most people," he says, "have no idea what a massacre pattern looks like."@@@@1@13@@oe@2-2-2013
22376015@unknown@formal@none@1@S@Elaine Garzarelli.@@@@1@2@@oe@2-2-2013
22376016@unknown@formal@none@1@S@A quantitative analyst with Shearson Lehman Hutton Inc., Ms. Garzarelli had warned clients to take their money out of the market before the 1987 crash.@@@@1@25@@oe@2-2-2013
22376017@unknown@formal@none@1@S@Friday's big drop, she says, "was not a crash.@@@@1@9@@oe@2-2-2013
22376018@unknown@formal@none@1@S@This was an October massacre" like those that occurred in 1978 and 1979.@@@@1@13@@oe@2-2-2013
22376019@unknown@formal@none@1@S@Now, as in those two years, her stock market indicators are positive.@@@@1@12@@oe@2-2-2013
22376020@unknown@formal@none@1@S@So she thinks the damage will be short-lived and contained.@@@@1@10@@oe@2-2-2013
22376021@unknown@formal@none@1@S@"Those corrections lasted one to four weeks and took the market 10%-12% down," she says.@@@@1@15@@oe@2-2-2013
22376022@unknown@formal@none@1@S@"This is exactly the same thing, as far as I'm concerned."@@@@1@11@@oe@2-2-2013
22376023@unknown@formal@none@1@S@Thus, she says, if the Dow Jones Industrial Average dropped below 2450, "It would just be a fluke.@@@@1@18@@oe@2-2-2013
22376024@unknown@formal@none@1@S@My advice is to buy."@@@@1@5@@oe@2-2-2013
22376025@unknown@formal@none@1@S@As she calculates it, the average stock now sells for about 12.5 times companies' earnings.@@@@1@15@@oe@2-2-2013
22376026@unknown@formal@none@1@S@She says that ratio could climb to 14.5, given current interest rates, and still be within the range of "fair value."@@@@1@21@@oe@2-2-2013
22376027@unknown@formal@none@1@S@Ned Davis.@@@@1@2@@oe@2-2-2013
22376028@unknown@formal@none@1@S@Friday's fall marks the start of a bear market, says Mr. Davis, president of Ned Davis Research Inc.@@@@1@18@@oe@2-2-2013
22376029@unknown@formal@none@1@S@But Mr. Davis, whose views are widely respected by money managers, says he expects no 1987-style crash.@@@@1@17@@oe@2-2-2013
22376030@unknown@formal@none@1@S@"There was a unique combination in 1987," he says.@@@@1@9@@oe@2-2-2013
22376031@unknown@formal@none@1@S@"Margin debt was at a record high.@@@@1@7@@oe@2-2-2013
22376032@unknown@formal@none@1@S@There was tremendous public enthusiasm for stock mutual funds.@@@@1@9@@oe@2-2-2013
22376033@unknown@formal@none@1@S@The main thing was portfolio insurance," a mechanical trading system intended to protect an investor against losses. "@@@@1@18@@oe@2-2-2013
22376034@unknown@formal@none@1@S@A hundred billion dollars in stock was subject" to it.@@@@1@10@@oe@2-2-2013
22376035@unknown@formal@none@1@S@In 1987, such selling contributed to a snowball effect.@@@@1@9@@oe@2-2-2013
22376036@unknown@formal@none@1@S@Today could even be an up day, Mr. Davis says, if major brokerage firms agree to refrain from program trading.@@@@1@20@@oe@2-2-2013
22376037@unknown@formal@none@1@S@Over the next several months, though, he says things look bad.@@@@1@11@@oe@2-2-2013
22376038@unknown@formal@none@1@S@"I think the market will be heading down into November," he says.@@@@1@12@@oe@2-2-2013
22376039@unknown@formal@none@1@S@"We will probably have a year-end rally, and then go down again.@@@@1@12@@oe@2-2-2013
22376040@unknown@formal@none@1@S@Sort of a two-step bear market."@@@@1@6@@oe@2-2-2013
22376041@unknown@formal@none@1@S@He expects the downturn to carry the Dow Jones Industrial Average down to around 2000 sometime next year.@@@@1@18@@oe@2-2-2013
22376042@unknown@formal@none@1@S@"That would be a normal bear market," he says.@@@@1@9@@oe@2-2-2013
22376043@unknown@formal@none@1@S@"I guess that's my forecast."@@@@1@5@@oe@2-2-2013
22376044@unknown@formal@none@1@S@Leon G. Cooperman.@@@@1@3@@oe@2-2-2013
22376045@unknown@formal@none@1@S@"I don't think the market is going through another October '87.@@@@1@11@@oe@2-2-2013
22376046@unknown@formal@none@1@S@I don't think that's the case at all," says Mr. Cooperman, a partner at Goldman, Sachs & Co. and chairman of Goldman Sachs Asset Management.@@@@1@25@@oe@2-2-2013
22376047@unknown@formal@none@1@S@Mr. Cooperman sees this as a good time to pick up bargains, but he doesn't think there's any need to rush.@@@@1@21@@oe@2-2-2013
22376048@unknown@formal@none@1@S@"I expect the market to open weaker Monday, but then it should find some stability."@@@@1@15@@oe@2-2-2013
22376049@unknown@formal@none@1@S@He ticks off several major differences between now and two years ago.@@@@1@12@@oe@2-2-2013
22376050@unknown@formal@none@1@S@Unlike 1987, interest rates have been falling this year.@@@@1@9@@oe@2-2-2013
22376051@unknown@formal@none@1@S@Unlike 1987, the dollar has been strong.@@@@1@7@@oe@2-2-2013
22376052@unknown@formal@none@1@S@And unlike 1987, the economy doesn't appear to be in any danger of overheating.@@@@1@14@@oe@2-2-2013
22376053@unknown@formal@none@1@S@But the economy's slower growth this year also means the outlook for corporate profits "isn't good," he says.@@@@1@18@@oe@2-2-2013
22376054@unknown@formal@none@1@S@"So it's a very mixed bag."@@@@1@6@@oe@2-2-2013
22376055@unknown@formal@none@1@S@Thus, he concludes, "This is not a good environment to be fully invested" in stocks.@@@@1@15@@oe@2-2-2013
22376056@unknown@formal@none@1@S@"If I had come into Friday on margin or with very little cash in the portfolios, I would not do any buying.@@@@1@22@@oe@2-2-2013
22376057@unknown@formal@none@1@S@But we came into Friday with a conservative portfolio, so I would look to do some modest buying" on behalf of clients. "@@@@1@23@@oe@2-2-2013
22376058@unknown@formal@none@1@S@We're going to look for some of the better-known companies that got clocked" Friday.@@@@1@14@@oe@2-2-2013
22376059@unknown@formal@none@1@S@John Kenneth Galbraith.@@@@1@3@@oe@2-2-2013
22376060@unknown@formal@none@1@S@"This is the latest manifestation of the capacity of the financial community for recurrent insanity," says Mr. Galbraith, an economist.@@@@1@20@@oe@2-2-2013
22376061@unknown@formal@none@1@S@"I see this as a reaction to the whole junk bond explosion," he says.@@@@1@14@@oe@2-2-2013
22376062@unknown@formal@none@1@S@"The explosion of junk bonds and takeovers has lodged a lot of insecure securities in the hands of investors and loaded the corporations that are the objects of takeovers or feared takeovers with huge amounts of debt rather than equity.@@@@1@40@@oe@2-2-2013
22376063@unknown@formal@none@1@S@This has both made investors uneasy and the corporations more vulnerable."@@@@1@11@@oe@2-2-2013
22376064@unknown@formal@none@1@S@Nevertheless, he says a depression doesn't appear likely.@@@@1@8@@oe@2-2-2013
22376065@unknown@formal@none@1@S@"There is more resiliency in the economy at large than we commonly suppose," he says.@@@@1@15@@oe@2-2-2013
22376066@unknown@formal@none@1@S@"It takes more error now to have a major depression than back in the Thirties -- much as the financial community and the government may try."@@@@1@26@@oe@2-2-2013
22376067@unknown@formal@none@1@S@Mario Gabelli.@@@@1@2@@oe@2-2-2013
22376068@unknown@formal@none@1@S@New York money manager Mario Gabelli, an expert at spotting takeover candidates, says that takeovers aren't totally gone.@@@@1@18@@oe@2-2-2013
22376069@unknown@formal@none@1@S@"Companies are still going to buy companies around the world," he says.@@@@1@12@@oe@2-2-2013
22376070@unknown@formal@none@1@S@Examples are "Ford looking at Jaguar, BellSouth looking at LIN Broadcasting."@@@@1@11@@oe@2-2-2013
22376071@unknown@formal@none@1@S@These sorts of takeovers don't require junk bonds or big bank loans to finance them, so Mr. Gabelli figures they will continue.@@@@1@22@@oe@2-2-2013
22376072@unknown@formal@none@1@S@"The market was up 35% since {President} Bush took office," Mr. Gabelli says, so a correction was to be expected.@@@@1@20@@oe@2-2-2013
22376073@unknown@formal@none@1@S@He thinks another crash is "unlikely," and says he was "nibbling at" selected stocks during Friday's plunge.@@@@1@17@@oe@2-2-2013
22376074@unknown@formal@none@1@S@"Stocks that were thrown out just on an emotional basis are a great opportunity {this} week for guys like me," he says.@@@@1@22@@oe@2-2-2013
22376075@unknown@formal@none@1@S@Jim Rogers.@@@@1@2@@oe@2-2-2013
22376076@unknown@formal@none@1@S@"It seems to me that this is the pin that has finally pricked the balloon," says Mr. Rogers, a professor of finance at Columbia University and former co-manager of one of the most successful hedge funds in history, Quantum Fund.@@@@1@40@@oe@2-2-2013
22376077@unknown@formal@none@1@S@He sees "economic problems, financial problems" ahead for the U.S., with a fairly strong possibility of a recession.@@@@1@18@@oe@2-2-2013
22376078@unknown@formal@none@1@S@"Friday you couldn't sell dollars," he says.@@@@1@7@@oe@2-2-2013
22376079@unknown@formal@none@1@S@Dealers "would give you a quote, but then refuse to make the trade."@@@@1@13@@oe@2-2-2013
22376080@unknown@formal@none@1@S@If the dollar stays weak, he says, that will add to inflationary pressures in the U.S. and make it hard for the Federal Reserve Board to ease interest rates very much.@@@@1@31@@oe@2-2-2013
22376081@unknown@formal@none@1@S@Mr. Rogers won't decide what to do today until he sees how the London and Tokyo markets go.@@@@1@18@@oe@2-2-2013
22376082@unknown@formal@none@1@S@He recommends that investors sell takeover-related stocks, but hang on to some other stocks -- especially utilities, which often do well during periods of economic weakness.@@@@1@26@@oe@2-2-2013
22376083@unknown@formal@none@1@S@Frank Curzio.@@@@1@2@@oe@2-2-2013
22376084@unknown@formal@none@1@S@Many people now claim to have predicted the 1987 crash.@@@@1@10@@oe@2-2-2013
22376085@unknown@formal@none@1@S@Queens newsletter writer Francis X. Curzio actually did it: He stated in writing in September 1987 that the Dow Jones Industrial Average was likely to decline about 500 points the following month.@@@@1@32@@oe@2-2-2013
22376086@unknown@formal@none@1@S@Mr. Curzio says what happens now will depend a good deal on the Federal Reserve Board.@@@@1@16@@oe@2-2-2013
22376087@unknown@formal@none@1@S@If it promptly cuts the discount rate it charges on loans to banks, he says, "That could quiet things down."@@@@1@20@@oe@2-2-2013
22376088@unknown@formal@none@1@S@If not, "We could go to 2200 very soon."@@@@1@9@@oe@2-2-2013
22376089@unknown@formal@none@1@S@Frank W. Terrizzi.@@@@1@3@@oe@2-2-2013
22376090@unknown@formal@none@1@S@Stock prices "would still have to go down some additional amount before we become positive on stocks," says Mr. Terrizzi, president and managing director of Renaissance Investment Management Inc. in Cincinnati.@@@@1@31@@oe@2-2-2013
22376091@unknown@formal@none@1@S@Renaissance, which manages about $1.8 billion, drew stiff criticism from many clients earlier this year because it pulled entirely out of stocks at the beginning of the year and thus missed a strong rally.@@@@1@34@@oe@2-2-2013
22376092@unknown@formal@none@1@S@Renaissance is keeping its money entirely in cash equivalents, primarily U.S. Treasury bills.@@@@1@13@@oe@2-2-2013
22376093@unknown@formal@none@1@S@"T-bills probably are the right place to be," he says.@@@@1@10@@oe@2-2-2013
22377001@unknown@formal@none@1@S@Regarding the Oct. 3 letter to the editor from Rep. Tom Lantos, chairman of the House Subcommittee on Employment and Housing, alleging:@@@@1@22@@oe@2-2-2013
22377002@unknown@formal@none@1@S@1. That your Sept. 28 editorial "Kangaroo Committees" was factually inaccurate and deliberately misleading.@@@@1@14@@oe@2-2-2013
22377003@unknown@formal@none@1@S@I thought your editorial was factually accurate and deliberately elucidative.@@@@1@10@@oe@2-2-2013
22377004@unknown@formal@none@1@S@2. That Mr. Lantos supported the rights of the witnesses to take the Fifth Amendment.@@@@1@15@@oe@2-2-2013
22377005@unknown@formal@none@1@S@Yes, he did.@@@@1@3@@oe@2-2-2013
22377006@unknown@formal@none@1@S@As I watched him on C-Span, I heard him speak those lovely words about the Bill of Rights, which he quotes from the transcript of the hearings.@@@@1@27@@oe@2-2-2013
22377007@unknown@formal@none@1@S@He did repeat those nice platitudes several times as an indication of his support for the Constitution.@@@@1@17@@oe@2-2-2013
22377008@unknown@formal@none@1@S@He used about 56 words defending the witnesses' constitutional rights.@@@@1@10@@oe@2-2-2013
22377009@unknown@formal@none@1@S@Unfortunately, by my rough guess, he used better than 5,000 words heaping scorn on the witnesses for exercising the Fifth.@@@@1@20@@oe@2-2-2013
22377010@unknown@formal@none@1@S@He sandwiched his praise of constitutional meat between large loaves of bilious commentary.@@@@1@13@@oe@2-2-2013
22377011@unknown@formal@none@1@S@As your editorial rightly pointed out, Samuel Pierce, former HUD secretary, and Lance Wilson, Mr. Pierce's former aide, "are currently being held up to scorn for taking the Fifth Amendment.@@@@1@30@@oe@2-2-2013
22377012@unknown@formal@none@1@S@" That certainly is not the supposed "distorted reading" indicated by Mr. Lantos.@@@@1@13@@oe@2-2-2013
22377013@unknown@formal@none@1@S@3. That his "committee does not deal with any possible criminal activity at HUD.@@@@1@14@@oe@2-2-2013
22377014@unknown@formal@none@1@S@My colleagues and I fully realize we are not a court . . . etc."@@@@1@15@@oe@2-2-2013
22377015@unknown@formal@none@1@S@Absolute rubbish.@@@@1@2@@oe@2-2-2013
22377016@unknown@formal@none@1@S@By any "reasonable man" criterion, Mr. Lantos and his colleagues have a whole bunch of people tried and convicted.@@@@1@19@@oe@2-2-2013
22377017@unknown@formal@none@1@S@Apparently, their verdict is in.@@@@1@5@@oe@2-2-2013
22377018@unknown@formal@none@1@S@Right now they're pursuing evidence.@@@@1@5@@oe@2-2-2013
22377019@unknown@formal@none@1@S@That's not a bad way to proceed, just somewhat different from standard American practice.@@@@1@14@@oe@2-2-2013
22377020@unknown@formal@none@1@S@How was that practice referred to when I was in school?@@@@1@11@@oe@2-2-2013
22377021@unknown@formal@none@1@S@Ah, yes, something called a Star Chamber.@@@@1@7@@oe@2-2-2013
22377022@unknown@formal@none@1@S@Of course, Mr. Lantos doth protest that his subcommittee simply seeks information for legislative change.@@@@1@15@@oe@2-2-2013
22377023@unknown@formal@none@1@S@No doubt that's partially true.@@@@1@5@@oe@2-2-2013
22377024@unknown@formal@none@1@S@Everything that Mr. Lantos says in his letter is partially true.@@@@1@11@@oe@2-2-2013
22377025@unknown@formal@none@1@S@He's right about his subcommittee's responsibilities when it comes to obtaining information from prior HUD officials.@@@@1@16@@oe@2-2-2013
22377026@unknown@formal@none@1@S@But if his explanation of motivation is true, why is his investigation so oriented as to identify criminal activity?@@@@1@19@@oe@2-2-2013
22377027@unknown@formal@none@1@S@Why not simply questions designed to identify sources and causes of waste and inefficiency?@@@@1@14@@oe@2-2-2013
22377028@unknown@formal@none@1@S@Such as, what happened when Congress wanted to know about $400 toilet seats or whatever they supposedly cost?@@@@1@18@@oe@2-2-2013
22377029@unknown@formal@none@1@S@No, Mr. Lantos's complaints simply won't wash.@@@@1@7@@oe@2-2-2013
22377030@unknown@formal@none@1@S@4. That the Journal defends "the sleaze, fraud, waste, embezzlement, influence-peddling and abuse of the public that took place while Mr. Pierce was secretary of HUD," etc. and so forth.@@@@1@30@@oe@2-2-2013
22377031@unknown@formal@none@1@S@No, to my mind, the Journal did not "defend sleaze, fraud, waste, embezzlement, influence-peddling and abuse of the public trust . . ."@@@@1@23@@oe@2-2-2013
22377032@unknown@formal@none@1@S@it defended appropriate constitutional safeguards and practical common sense.@@@@1@9@@oe@2-2-2013
22377033@unknown@formal@none@1@S@The problem, which the Journal so rightly pointed out in a number of articles, is not the likes of Mr. Lantos, who after all is really a bit player on the stage, but the attempt by Congress to enhance itself into a quasi-parliamentary/judicial body.@@@@1@44@@oe@2-2-2013
22377034@unknown@formal@none@1@S@(Of course, we've also got a judiciary that seeks the same objective.)@@@@1@12@@oe@2-2-2013
22377035@unknown@formal@none@1@S@The system is the problem, not an individual member.@@@@1@9@@oe@2-2-2013
22377036@unknown@formal@none@1@S@Individuals can always have their hands slapped.@@@@1@7@@oe@2-2-2013
22377037@unknown@formal@none@1@S@It's when such slapping doesn't occur that we've got trouble.@@@@1@10@@oe@2-2-2013
22377038@unknown@formal@none@1@S@I do not by any means defend HUD management.@@@@1@9@@oe@2-2-2013
22377039@unknown@formal@none@1@S@But I think the kind of congressional investigation that has been pursued is a far greater danger to American notions of liberty and freedom than any incompetency (and, yes, maybe criminality) within HUD could possibly generate.@@@@1@36@@oe@2-2-2013
22377040@unknown@formal@none@1@S@The last time I saw a similar congressional hearing was when "Tail Gunner Joe" McCarthy did his work.@@@@1@18@@oe@2-2-2013
22377041@unknown@formal@none@1@S@Raymond Weber@@@@1@2@@oe@2-2-2013
22377042@unknown@formal@none@1@S@Parsippany, N.J.@@@@1@2@@oe@2-2-2013
22377043@unknown@formal@none@1@S@I disagree with the statement by Mr. Lantos that one should not draw an adverse inference against former HUD officials who assert their Fifth Amendment privilege against self-incrimination in congressional hearings.@@@@1@31@@oe@2-2-2013
22377044@unknown@formal@none@1@S@The Fifth Amendment states in relevant part that no person "shall be compelled, in any criminal case, to be a witness against himself."@@@@1@23@@oe@2-2-2013
22377045@unknown@formal@none@1@S@This privilege against self-incrimination precludes the drawing of an adverse inference against a criminal defendant who chooses not to testify.@@@@1@20@@oe@2-2-2013
22377046@unknown@formal@none@1@S@Thus, in a criminal case, a prosecutor cannot comment on a defendant's failure to testify nor can the defendant be compelled to take the stand as a witness, thus forcing him to "take the Fifth."@@@@1@35@@oe@2-2-2013
22377047@unknown@formal@none@1@S@The privilege, however, has been limited in accordance with its plain language to protect the defendant in criminal matters only.@@@@1@20@@oe@2-2-2013
22377048@unknown@formal@none@1@S@The Supreme Court and some states have specifically recognized that "the Fifth Amendment does not preclude the inference where the privilege is claimed by a party to a civil cause."@@@@1@30@@oe@2-2-2013
22377049@unknown@formal@none@1@S@Baxter v. Palmingiano, 425 U.S. 308 (1976).@@@@1@7@@oe@2-2-2013
22377050@unknown@formal@none@1@S@Thus, in a civil case, a defendant may be called as a witness, he may be forced to testify or take the Fifth, and his taking of the Fifth may permit the drawing of an adverse inference against him in the civil matter.@@@@1@43@@oe@2-2-2013
22377051@unknown@formal@none@1@S@He may take the Fifth in a civil matter only if he has a good faith and justifiable belief that his testimony may subject him to criminal prosecution.@@@@1@28@@oe@2-2-2013
22377052@unknown@formal@none@1@S@Allowing the defendant to take the Fifth in a civil matter is not based on a constitutional right to refuse to testify where one's testimony harms him in the civil matter, but because the testimony in the civil matter could be unconstitutionally used against him in a subsequent criminal prosecution.@@@@1@50@@oe@2-2-2013
22377053@unknown@formal@none@1@S@Absent the risk of such prosecution, a court may order the defendant to testify.@@@@1@14@@oe@2-2-2013
22377054@unknown@formal@none@1@S@Thus, when Mr. Pierce asserted the Fifth in a noncriminal proceeding, particularly after presumably receiving extensive advice from legal counsel, one must conclude that he held a good-faith, justifiable belief that his testimony could be used against him in a subsequent criminal prosecution.@@@@1@43@@oe@2-2-2013
22377055@unknown@formal@none@1@S@The subcommittee, Congress and the American public have every right to draw the adverse inference and to concur with Mr. Pierce's own belief that his testimony could help convict him of a crime.@@@@1@33@@oe@2-2-2013
22377056@unknown@formal@none@1@S@Drawing the adverse inference in a noncriminal congressional hearing does not offend the Fifth Amendment shield against self-incrimination.@@@@1@18@@oe@2-2-2013
22377057@unknown@formal@none@1@S@Clark S. Spalsbury Jr.@@@@1@4@@oe@2-2-2013
22377058@unknown@formal@none@1@S@Estes Park, Colo.@@@@1@3@@oe@2-2-2013
22378001@unknown@formal@none@1@S@It was Friday the 13th, and the stock market plummeted nearly 200 points.@@@@1@13@@oe@2-2-2013
22378002@unknown@formal@none@1@S@Just a coincidence?@@@@1@3@@oe@2-2-2013
22378003@unknown@formal@none@1@S@Or is triskaidekaphobia -- fear of the number 13 -- justified?@@@@1@11@@oe@2-2-2013
22378004@unknown@formal@none@1@S@In academia, a so-called Friday the 13th effect has been set up and shot down by different professors.@@@@1@18@@oe@2-2-2013
22378005@unknown@formal@none@1@S@Robert Kolb and Ricardo Rodriguez, professors of finance at the University of Miami, found evidence that the market is spooked by Friday the 13th.@@@@1@24@@oe@2-2-2013
22378006@unknown@formal@none@1@S@But their study, which spanned the 1962-85 period, has since been shown to be jinxed by an unlucky choice of data.@@@@1@21@@oe@2-2-2013
22378007@unknown@formal@none@1@S@In the '70s, the market took falls nine times in a row on Friday the you-know-what.@@@@1@16@@oe@2-2-2013
22378008@unknown@formal@none@1@S@But the date tends to be a plus, not a minus, for stocks, according to Yale Hirsch, a collector of stock market lore.@@@@1@23@@oe@2-2-2013
22378009@unknown@formal@none@1@S@Another study found that the 82 Fridays the 13th in the 1940-1987 period had higher than average returns -- higher even than Fridays in general, which tend to be strong days for stock prices.@@@@1@34@@oe@2-2-2013
22378010@unknown@formal@none@1@S@On the only other Friday the 13th this year, the Dow Jones Industrial Average rose about four points.@@@@1@18@@oe@2-2-2013
22378011@unknown@formal@none@1@S@Professor Kolb says the original study, titled Friday the 13th, Part VII, was published tongue-in-cheek.@@@@1@15@@oe@2-2-2013
22378012@unknown@formal@none@1@S@In a similar vein, he adds that the anniversary of the 1987 crash and Saturday's full moon could have played a part, too, in Friday's market activity.@@@@1@27@@oe@2-2-2013
22379001@unknown@formal@none@1@S@reminiscent of those during the 1987 crash -- that as stock prices plummeted and trading activity escalated, some phone calls to market makers in over-the-counter stocks went unanswered.@@@@1@28@@oe@2-2-2013
22379002@unknown@formal@none@1@S@"We couldn't get dealers to answer their phones," said Robert King, senior vice president of OTC trading at Robinson-Humphrey Co. in Atlanta.@@@@1@22@@oe@2-2-2013
22379003@unknown@formal@none@1@S@"It was {like} the Friday before Black Monday" two years ago.@@@@1@11@@oe@2-2-2013
22379004@unknown@formal@none@1@S@Whether unanswered phone calls had any effect or not, Nasdaq stocks sank far less than those on the New York and American exchanges.@@@@1@23@@oe@2-2-2013
22379005@unknown@formal@none@1@S@Nonetheless, the Nasdaq Composite Index suffered its biggest point decline of the year and its sixth worst ever, diving 14.90, or 3%, to 467.29.@@@@1@24@@oe@2-2-2013
22379006@unknown@formal@none@1@S@Ten points of the drop occurred during the last 45 minutes of trading.@@@@1@13@@oe@2-2-2013
22379007@unknown@formal@none@1@S@By comparison, the New York Stock Exchange Composite tumbled 5.8% Friday and the American Stock Exchange Composite fell 4%.@@@@1@19@@oe@2-2-2013
22379008@unknown@formal@none@1@S@On Oct. 16, 1987, the Nasdaq Composite fell 16.18 points, or 3.8%, followed by its devastating 46.12-point, or 11% slide, three days later.@@@@1@23@@oe@2-2-2013
22379009@unknown@formal@none@1@S@Nasdaq volume Friday totaled 167.7 million shares, which was only the fifth busiest day so far this year.@@@@1@18@@oe@2-2-2013
22379010@unknown@formal@none@1@S@The single-day record of 288 million shares was set on Oct. 21,@@@@1@12@@oe@2-2-2013
22379011@unknown@formal@none@1@S@"There wasn't a lot of volume because it was just impossible to get stock moved," said E.E. "Buzzy" Geduld, president of Herzog, Heine, Geduld, a New York company that makes markets in thousands of OTC issues.@@@@1@36@@oe@2-2-2013
22379012@unknown@formal@none@1@S@Most of the complaints about unanswered phone calls came from regional brokers rather than individual investors.@@@@1@16@@oe@2-2-2013
22379013@unknown@formal@none@1@S@Mr. King of Robinson-Humphrey and others were quick to add that they believe the problem stemmed more from traders' inability to handle the volume of calls, rather than a deliberate attempt to avoid making trades.@@@@1@35@@oe@2-2-2013
22379014@unknown@formal@none@1@S@The subject is a sore one for Nasdaq and its market-making companies, which were widely criticized two years ago following complaints from investors who couldn't reach their brokers or trade in the chaos of the crash.@@@@1@36@@oe@2-2-2013
22379015@unknown@formal@none@1@S@Peter DaPuzzo, head of retail equity trading at Shearson Lehman Hutton, declared: "It was the last hour of trading on a Friday.@@@@1@22@@oe@2-2-2013
22379016@unknown@formal@none@1@S@There were too many phones ringing and too many things happening to expect market makers to be as efficient as robots.@@@@1@21@@oe@2-2-2013
22379017@unknown@formal@none@1@S@It wasn't intentional, we were all busy."@@@@1@7@@oe@2-2-2013
22379018@unknown@formal@none@1@S@James Tarantino, head of OTC trading at Hambrecht & Quist in San Francisco, said, "It was just like two years ago.@@@@1@21@@oe@2-2-2013
22379019@unknown@formal@none@1@S@Everybody was trying to do the same thing at the same time."@@@@1@12@@oe@2-2-2013
22379020@unknown@formal@none@1@S@Jeremiah Mullins, the OTC trading chief at Dean Witter Reynolds in New York, said proudly that his company executed every order it received by the close of trading.@@@@1@28@@oe@2-2-2013
22379021@unknown@formal@none@1@S@But, he added, "you can only take one call at a time."@@@@1@12@@oe@2-2-2013
22379022@unknown@formal@none@1@S@Market makers keep supplies of stock on hand to maintain orderly trading when imbalances occur.@@@@1@15@@oe@2-2-2013
22379023@unknown@formal@none@1@S@On days like Friday, that means they must buy shares from sellers when no one else is willing to.@@@@1@19@@oe@2-2-2013
22379024@unknown@formal@none@1@S@When selling is so frenzied, prices fall steeply and fast.@@@@1@10@@oe@2-2-2013
22379025@unknown@formal@none@1@S@Two years ago, faced with the possibility of heavy losses on the stocks in their inventories, market makers themselves began dumping shares, exacerbating the slide in OTC stock prices.@@@@1@29@@oe@2-2-2013
22379026@unknown@formal@none@1@S@On Friday, some market makers were selling again, traders said.@@@@1@10@@oe@2-2-2013
22379027@unknown@formal@none@1@S@But, with profits sagging on Wall Street since the crash, companies have kept smaller share stockpiles on hand.@@@@1@18@@oe@2-2-2013
22379028@unknown@formal@none@1@S@Mr. Tarantino of Hambrecht & Quist said some prices fell without trades taking place, as market makers kept dropping the prices at which they would buy shares.@@@@1@27@@oe@2-2-2013
22379029@unknown@formal@none@1@S@"Everyone was hitting everyone else's bid," he said.@@@@1@8@@oe@2-2-2013
22379030@unknown@formal@none@1@S@So, while OTC companies incurred losses on Friday, trading officials said the damage wasn't as bad as it was in 1987.@@@@1@21@@oe@2-2-2013
22379031@unknown@formal@none@1@S@"Two years ago we were carrying huge inventories and that was the big culprit.@@@@1@14@@oe@2-2-2013
22379032@unknown@formal@none@1@S@I don't know of anyone carrying big inventories now," said Mr. King of Robinson-Humphrey.@@@@1@14@@oe@2-2-2013
22379033@unknown@formal@none@1@S@Tony Cecin, head of equity trading at Piper, Jaffray & Hopwood in Minneapolis, said that Piper Jaffray actually made money on Friday.@@@@1@22@@oe@2-2-2013
22379034@unknown@formal@none@1@S@It helped that his inventory is a third smaller now than it was two years ago, he said.@@@@1@18@@oe@2-2-2013
22379035@unknown@formal@none@1@S@Joseph Hardiman, president of the National Association of Securities Dealers, which oversees the Nasdaq computerized trading system, said that despite the rush of selling, he never considered the situation an "emergency."@@@@1@31@@oe@2-2-2013
22379036@unknown@formal@none@1@S@"The pace of trading was orderly," he said.@@@@1@8@@oe@2-2-2013
22379037@unknown@formal@none@1@S@Nasdaq's Small Order Execution System "worked beautifully," as did the automated system for larger trades, according to Mr. Hardiman.@@@@1@19@@oe@2-2-2013
22379038@unknown@formal@none@1@S@Nevertheless, the shock of another steep plunge in stock prices undoubtedly will shake many investors' confidence.@@@@1@16@@oe@2-2-2013
22379039@unknown@formal@none@1@S@In the past, the OTC market thrived on a firm base of small-investor participation.@@@@1@14@@oe@2-2-2013
22379040@unknown@formal@none@1@S@Because Nasdaq's trading volume hasn't returned to pre-crash levels, traders and OTC market officials hope the damage won't be permanent.@@@@1@20@@oe@2-2-2013
22379041@unknown@formal@none@1@S@But they are worried.@@@@1@4@@oe@2-2-2013
22379042@unknown@formal@none@1@S@"We were just starting to get the public's confidence back," lamented Mr. Mullins of Dean Witter.@@@@1@16@@oe@2-2-2013
22379043@unknown@formal@none@1@S@More troubling is the prospect that the overall collapse in stock prices could permanently erode the base of small-investor support the OTC market was struggling to rebuild in the wake of the October 1987 crash.@@@@1@35@@oe@2-2-2013
22379044@unknown@formal@none@1@S@Mr. Cecin of Piper Jaffray says some action from government policy makers would allay investor fears.@@@@1@16@@oe@2-2-2013
22379045@unknown@formal@none@1@S@It won't take much more to "scare the hell out of retail investors," he says.@@@@1@15@@oe@2-2-2013
22379046@unknown@formal@none@1@S@The sellers on Friday came from all corners of the OTC market -- big and small institutional investors, as well as individual investors and market makers.@@@@1@26@@oe@2-2-2013
22379047@unknown@formal@none@1@S@But grateful traders said the sell orders generally ranged from 20,000 shares to 50,000 shares, compared with blocks of 500,000 shares or more two years ago.@@@@1@26@@oe@2-2-2013
22379048@unknown@formal@none@1@S@Shearson's Mr. DaPuzzo said retail investors nervously sold stock Friday and never returned to bargain-hunt.@@@@1@15@@oe@2-2-2013
22379049@unknown@formal@none@1@S@Institutional investors, which had been selling stock throughout last week to lock in handsome gains made through the third quarter, were calmer.@@@@1@22@@oe@2-2-2013
22379050@unknown@formal@none@1@S@"We had a good amount of selling from institutions, but not as much panic," Mr. DaPuzzo said.@@@@1@17@@oe@2-2-2013
22379051@unknown@formal@none@1@S@"If they couldn't sell, some of them put the shares back on the shelf."@@@@1@14@@oe@2-2-2013
22379052@unknown@formal@none@1@S@In addition, he said, some bigger institutional investors placed bids to buy some OTC stocks whose prices were beaten down.@@@@1@20@@oe@2-2-2013
22379053@unknown@formal@none@1@S@In addition, Mr. DaPuzzo said computer-guided program selling of OTC stocks in the Russell Index of 2000 small stocks and the Standard & Poor's 500-stock Index sent occasional "waves " through the market.@@@@1@33@@oe@2-2-2013
22379054@unknown@formal@none@1@S@Nasdaq's biggest stocks were hammered.@@@@1@5@@oe@2-2-2013
22379055@unknown@formal@none@1@S@The Nasdaq 100 Index of the largest nonfinancial issues, including the big OTC technology issues, tumbled 4.2%, or 19.76, to 449.33.@@@@1@21@@oe@2-2-2013
22379056@unknown@formal@none@1@S@The Nasdaq Financial Index of giant insurance and banking stocks dropped 2%, or 9.31, to 462.98.@@@@1@16@@oe@2-2-2013
22379057@unknown@formal@none@1@S@The OTC market has only a handful of takeover-related stocks.@@@@1@10@@oe@2-2-2013
22379058@unknown@formal@none@1@S@But they fell sharply.@@@@1@4@@oe@2-2-2013
22379059@unknown@formal@none@1@S@McCaw Cellular Communications, for instance, has offered to buy LIN Broadcasting as well as Metromedia's New York City cellular telephone interests, and in a separate transaction, sell certain McCaw properties to Contel Cellular.@@@@1@33@@oe@2-2-2013
22379060@unknown@formal@none@1@S@McCaw lost 8%, or 3 1/2, to 40.@@@@1@8@@oe@2-2-2013
22379061@unknown@formal@none@1@S@LIN Broadcasting, dropped 5 1/2, or 5%, to 107 1/2.@@@@1@10@@oe@2-2-2013
22379062@unknown@formal@none@1@S@The turnover in both issues was roughly normal.@@@@1@8@@oe@2-2-2013
22379063@unknown@formal@none@1@S@On a day when negative takeover-related news didn't sit well with investors, Commercial Intertech, a maker of engineered metal parts, said Haas & Partners advised it that it doesn't plan to pursue its previously reported $27.50-a-share bid to buy the company.@@@@1@41@@oe@2-2-2013
22379064@unknown@formal@none@1@S@Commercial Intertech plummeted 6 to 26.@@@@1@6@@oe@2-2-2013
22379065@unknown@formal@none@1@S@The issues of companies with ties to the junk bond market also tumbled Friday.@@@@1@14@@oe@2-2-2013
22379066@unknown@formal@none@1@S@On the OTC market, First Executive, a big buyer of the high-risk, high-yield issues, slid 2 to 12 1/4.@@@@1@19@@oe@2-2-2013
22379067@unknown@formal@none@1@S@Among other OTC issues, Intel, dropped 2 1/8 to 33 7/8; Laidlaw Transportation lost 1 1/8 to 19 1/2; the American depositary receipts of Jaguar were off 1/4 to 10 1/4; MCI Communications slipped 2 1/4 to 43 1/2; Apple Computer fell 3 to 45 3/4 and Nike dropped 2 1/4 to 66 3/4.@@@@1@54@@oe@2-2-2013
22380001@unknown@formal@none@1@S@Friday, October 13, 1989@@@@1@4@@oe@2-2-2013
22380002@unknown@formal@none@1@S@The key U.S. and foreign annual interest rates below are a guide to general levels but don't always represent actual transactions.@@@@1@21@@oe@2-2-2013
22380003@unknown@formal@none@1@S@PRIME RATE:@@@@1@2@@oe@2-2-2013
22380004@unknown@formal@none@1@S@10 1/2%.@@@@1@2@@oe@2-2-2013
22380005@unknown@formal@none@1@S@The base rate on corporate loans at large U.S. money center commercial banks.@@@@1@13@@oe@2-2-2013
22380006@unknown@formal@none@1@S@FEDERAL FUNDS:@@@@1@2@@oe@2-2-2013
22380007@unknown@formal@none@1@S@8 13/16% high, 8 1/2% low, 8 5/8% near closing bid, 8 3/4% offered.@@@@1@14@@oe@2-2-2013
22380008@unknown@formal@none@1@S@Reserves traded among commercial banks for overnight use in amounts of $1 million or more.@@@@1@15@@oe@2-2-2013
22380009@unknown@formal@none@1@S@Source: Fulton Prebon (U.S.A.) Inc.@@@@1@5@@oe@2-2-2013
22380010@unknown@formal@none@1@S@DISCOUNT RATE:@@@@1@2@@oe@2-2-2013
22380011@unknown@formal@none@1@S@7%.@@@@1@1@@oe@2-2-2013
22380012@unknown@formal@none@1@S@The charge on loans to depository institutions by the New York Federal Reserve Bank.@@@@1@14@@oe@2-2-2013
22380013@unknown@formal@none@1@S@CALL MONEY:@@@@1@2@@oe@2-2-2013
22380014@unknown@formal@none@1@S@9 3/4% to 10%.@@@@1@4@@oe@2-2-2013
22380015@unknown@formal@none@1@S@The charge on loans to brokers on stock exchange collateral.@@@@1@10@@oe@2-2-2013
22380016@unknown@formal@none@1@S@COMMERCIAL PAPER placed directly by General Motors Acceptance Corp.:@@@@1@9@@oe@2-2-2013
22380017@unknown@formal@none@1@S@8.60% 30 to 44 days; 8.55% 45 to 59 days; 8.375% 60 to 79 days; 8.50% 80 to 89 days; 8.25% 90 to 119 days; 8.125% 120 to 149 days; 8% 150 to 179 days; 7.625% 180 to 270 days.@@@@1@40@@oe@2-2-2013
22380018@unknown@formal@none@1@S@COMMERCIAL PAPER:@@@@1@2@@oe@2-2-2013
22380019@unknown@formal@none@1@S@High-grade unsecured notes sold through dealers by major corporations in multiples of $1,000:@@@@1@13@@oe@2-2-2013
22380020@unknown@formal@none@1@S@8.65% 30 days; 8.55% 60 days; 8.55% 90 days.@@@@1@9@@oe@2-2-2013
22380021@unknown@formal@none@1@S@CERTIFICATES OF DEPOSIT:@@@@1@3@@oe@2-2-2013
22380022@unknown@formal@none@1@S@8.15% one month; 8.15% two months; 8.13% three months; 8.11% six months; 8.08% one year.@@@@1@15@@oe@2-2-2013
22380023@unknown@formal@none@1@S@Average of top rates paid by major New York banks on primary new issues of negotiable C.D.s, usually on amounts of $1 million and more.@@@@1@25@@oe@2-2-2013
22380024@unknown@formal@none@1@S@The minimum unit is $100,000.@@@@1@5@@oe@2-2-2013
22380025@unknown@formal@none@1@S@Typical rates in the secondary market:@@@@1@6@@oe@2-2-2013
22380026@unknown@formal@none@1@S@8.65% one month; 8.65% three months; 8.55% six months.@@@@1@9@@oe@2-2-2013
22380027@unknown@formal@none@1@S@BANKERS ACCEPTANCES:@@@@1@2@@oe@2-2-2013
22380028@unknown@formal@none@1@S@8.52% 30 days; 8.37% 60 days; 8.15% 90 days; 7.98% 120 days; 7.92% 150 days; 7.80% 180 days.@@@@1@18@@oe@2-2-2013
22380029@unknown@formal@none@1@S@Negotiable, bank-backed business credit instruments typically financing an import order.@@@@1@10@@oe@2-2-2013
22380030@unknown@formal@none@1@S@LONDON LATE EURODOLLARS:@@@@1@3@@oe@2-2-2013
22380031@unknown@formal@none@1@S@8 13/16% to 8 11/16% one month; 8 13/16% to 8 11/16% two months; 8 13/16% to 8 11/16% three months; 8 3/4% to 8 5/8% four months; 8 11/16% to 8 9/16% five months; 8 5/8% to 8 1/2% six months.@@@@1@42@@oe@2-2-2013
22380032@unknown@formal@none@1@S@LONDON INTERBANK OFFERED RATES (LIBOR):@@@@1@5@@oe@2-2-2013
22380033@unknown@formal@none@1@S@8 3/4% one month; 8 3/4% three months; 8 9/16% six months; 8 9/16% one year.@@@@1@16@@oe@2-2-2013
22380034@unknown@formal@none@1@S@The average of interbank offered rates for dollar deposits in the London market based on quotations at five major banks.@@@@1@20@@oe@2-2-2013
22380035@unknown@formal@none@1@S@FOREIGN PRIME RATES:@@@@1@3@@oe@2-2-2013
22380036@unknown@formal@none@1@S@Canada 13.50%; Germany 8.50%; Japan 4.875%; Switzerland 8.50%; Britain 15%.@@@@1@10@@oe@2-2-2013
22380037@unknown@formal@none@1@S@These rate indications aren't directly comparable; lending practices vary widely by location.@@@@1@12@@oe@2-2-2013
22380038@unknown@formal@none@1@S@TREASURY BILLS:@@@@1@2@@oe@2-2-2013
22380039@unknown@formal@none@1@S@Results of the Tuesday, October 10, 1989, auction of short-term U.S. government bills, sold at a discount from face value in units of $10,000 to $1 million:@@@@1@27@@oe@2-2-2013
22380040@unknown@formal@none@1@S@7.63% 13 weeks; 7.60% 26 weeks.@@@@1@6@@oe@2-2-2013
22380041@unknown@formal@none@1@S@FEDERAL HOME LOAN MORTGAGE CORP. (Freddie Mac):@@@@1@7@@oe@2-2-2013
22380042@unknown@formal@none@1@S@Posted yields on 30-year mortgage commitments for delivery within 30 days.@@@@1@11@@oe@2-2-2013
22380043@unknown@formal@none@1@S@9.91%, standard conventional fixedrate mortgages; 7.875%, 2% rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
22380044@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
22380045@unknown@formal@none@1@S@FEDERAL NATIONAL MORTGAGE ASSOCIATION (Fannie Mae):@@@@1@6@@oe@2-2-2013
22380046@unknown@formal@none@1@S@Posted yields on 30 year mortgage commitments for delivery within 30 days (priced at par)@@@@1@15@@oe@2-2-2013
22380047@unknown@formal@none@1@S@9.86%, standard conventional fixed-rate mortgages; 8.85%, 6/2 rate capped one-year adjustable rate mortgages.@@@@1@13@@oe@2-2-2013
22380048@unknown@formal@none@1@S@Source: Telerate Systems Inc.@@@@1@4@@oe@2-2-2013
22380049@unknown@formal@none@1@S@MERRILL LYNCH READY ASSETS TRUST:@@@@1@5@@oe@2-2-2013
22380050@unknown@formal@none@1@S@8.33%.@@@@1@1@@oe@2-2-2013
22380051@unknown@formal@none@1@S@Annualized average rate of return after expenses for the past 30 days; not a forecast of future returns.@@@@1@18@@oe@2-2-2013
22381001@unknown@formal@none@1@S@Pension funds, insurers and other behemoths of the investing world said they began scooping up stocks during Friday's market rout.@@@@1@20@@oe@2-2-2013
22381002@unknown@formal@none@1@S@And they plan to buy more today.@@@@1@7@@oe@2-2-2013
22381003@unknown@formal@none@1@S@Rightly or wrongly, many giant institutional investors appear to be fighting the latest war by applying the lesson they learned in the October 1987 crash: Buying at the bottom pays off.@@@@1@31@@oe@2-2-2013
22381004@unknown@formal@none@1@S@To be sure, big investors might put away their checkbooks in a hurry if stocks open sharply lower today.@@@@1@19@@oe@2-2-2013
22381005@unknown@formal@none@1@S@They could still panic and bail out of the market.@@@@1@10@@oe@2-2-2013
22381006@unknown@formal@none@1@S@But their 1987 performance indicates that they won't abandon stocks unless conditions get far worse.@@@@1@15@@oe@2-2-2013
22381007@unknown@formal@none@1@S@"Last time, we got rewarded for going out and buying stocks when the panic was the worst," said John W. Rogers, president of Chicago-based Ariel Capital Management Inc., which manages $1.1 billion of stocks.@@@@1@34@@oe@2-2-2013
22381008@unknown@formal@none@1@S@Mr. Rogers spent half his cash on hand Friday for "our favorite stocks that have fallen apart."@@@@1@17@@oe@2-2-2013
22381009@unknown@formal@none@1@S@He expects to invest the rest if the market weakens further.@@@@1@11@@oe@2-2-2013
22381010@unknown@formal@none@1@S@Denver-based portfolio manager James Craig wasn't daunted when Friday's rout shaved $40 million from the value of the $752 million Janus Fund he oversees.@@@@1@24@@oe@2-2-2013
22381011@unknown@formal@none@1@S@"I waited to make sure all the program trades had kicked through," he said.@@@@1@14@@oe@2-2-2013
22381012@unknown@formal@none@1@S@Then he jumped into the market:@@@@1@6@@oe@2-2-2013
22381013@unknown@formal@none@1@S@"I spent $30 million in the last half-hour."@@@@1@8@@oe@2-2-2013
22381014@unknown@formal@none@1@S@Other money managers also opened their wallets.@@@@1@7@@oe@2-2-2013
22381015@unknown@formal@none@1@S@"I was buying at the close (Friday) and I'll be buying again because I know we're getting good value," said Frederick A. Moran, president of Moran Asset Management Inc., Greenwich, Conn.@@@@1@31@@oe@2-2-2013
22381016@unknown@formal@none@1@S@"There is no justification on the fundamental level for this crash."@@@@1@11@@oe@2-2-2013
22381017@unknown@formal@none@1@S@Unlike mutual funds, which can be forced to sell stockholdings when investors rush to withdraw money, big investors such as pension funds and insurance companies can decide to ride out market storms without jettisoning stock.@@@@1@35@@oe@2-2-2013
22381018@unknown@formal@none@1@S@Most often, they do just that, because stocks have proved to be the best-performing long-term investment, attracting about $1 trillion from pension funds alone.@@@@1@24@@oe@2-2-2013
22381019@unknown@formal@none@1@S@"If you bought after the crash, you did very very well off the bottom," said Stephen B. Timbers, chief investment officer of Chicago-based Kemper Financial Services Inc.@@@@1@27@@oe@2-2-2013
22381020@unknown@formal@none@1@S@The $56 billion California Public Employees Retirement System, for one, added $1 billion to its stock portfolio two years ago.@@@@1@20@@oe@2-2-2013
22381021@unknown@formal@none@1@S@"The last crash taught institutional investors that they have to be long-term holders, and that they can't react to short-term events, good or bad," said Stephen L. Nesbitt, senior vice president for the pension consultants Wilshire Associates in Santa Monica, Calif.@@@@1@41@@oe@2-2-2013
22381022@unknown@formal@none@1@S@"Those that pulled out (of stocks) regretted it," he said, "so I doubt you'll see any significant changes" in institutional portfolios as a result of Friday's decline.@@@@1@27@@oe@2-2-2013
22381023@unknown@formal@none@1@S@Stocks, as measured by the Standard & Poor's 500-stock index, have been stellar performers this year, rising 27.97% before Friday's plunge, excluding dividends.@@@@1@23@@oe@2-2-2013
22381024@unknown@formal@none@1@S@Even Friday's slump leaves investors ahead more than 20%, well above the annual average for stocks over several decades.@@@@1@19@@oe@2-2-2013
22381025@unknown@formal@none@1@S@"You could go down 400 points and still have a good year in the market," said James D. Awad, president of New York-based BMI Capital Corp.@@@@1@26@@oe@2-2-2013
22381026@unknown@formal@none@1@S@Mr. Awad, however, worries that the market "could go down 800 or 900 points in the next few days.@@@@1@19@@oe@2-2-2013
22381027@unknown@formal@none@1@S@It can happen before you can turn around."@@@@1@8@@oe@2-2-2013
22381028@unknown@formal@none@1@S@He said he discerns many parallels with 1987, including the emphasis on takeover stocks and the re-emergence of computerized program trading.@@@@1@21@@oe@2-2-2013
22381029@unknown@formal@none@1@S@"The only thing you don't have," he said, "is the `portfolio insurance' phenomenon overlaid on the rest."@@@@1@17@@oe@2-2-2013
22381030@unknown@formal@none@1@S@Most institutional investors have abandoned the portfolio insurance hedging technique, which is widely thought to have worsened the 1987 crash.@@@@1@20@@oe@2-2-2013
22381031@unknown@formal@none@1@S@Not really insurance, this tactic was designed to soften the blow of declining stock prices and generate an offsetting profit by selling waves of S&P futures contracts.@@@@1@27@@oe@2-2-2013
22381032@unknown@formal@none@1@S@In its severest test, the $60 billion of portfolio insurance in effect in the 1987 crash didn't work, as stock buyers disappeared and stock and futures prices became disconnected.@@@@1@29@@oe@2-2-2013
22381033@unknown@formal@none@1@S@Even without portfolio insurance, market conditions were grim Friday, money managers said.@@@@1@12@@oe@2-2-2013
22381034@unknown@formal@none@1@S@Neil Weisman, whose New York-based Chilmark Capital Partners had converted 85% of its $220 million investment pool to cash in recent months, said he was besieged by Wall Street firms Friday asking him to take stock off their hands.@@@@1@39@@oe@2-2-2013
22381035@unknown@formal@none@1@S@"We got calls from big block houses asking us if we want to make bids on anything," said Mr. Weisman, who, happy with his returns on investments chalked up earlier, declined the offers.@@@@1@33@@oe@2-2-2013
22381036@unknown@formal@none@1@S@Mr. Weisman predicts stocks will appear to stabilize in the next few days before declining again, trapping more investors.@@@@1@19@@oe@2-2-2013
22381037@unknown@formal@none@1@S@"I think it will be a rigor mortis rally," he said.@@@@1@11@@oe@2-2-2013
22381038@unknown@formal@none@1@S@Meanwhile, Friday brought a reprieve for money managers whose investment styles had put them at odds with the market rally.@@@@1@20@@oe@2-2-2013
22381039@unknown@formal@none@1@S@Especially gleeful were the short sellers, who have been pounded by this year's market climb.@@@@1@15@@oe@2-2-2013
22381040@unknown@formal@none@1@S@The shorts sell borrowed shares, hoping to profit by replacing them later at a lower price.@@@@1@16@@oe@2-2-2013
22381041@unknown@formal@none@1@S@The nation's largest short-selling operation is Feshbach Brothers, Palo Alto, Calif., which said last May that its short positions had shown losses of 10% for the year up to that point.@@@@1@31@@oe@2-2-2013
22381042@unknown@formal@none@1@S@All that now has changed.@@@@1@5@@oe@2-2-2013
22381043@unknown@formal@none@1@S@"We're ahead for the year because of Friday," said the firm's Kurt Feshbach.@@@@1@13@@oe@2-2-2013
22381044@unknown@formal@none@1@S@"We're not making a killing, but we had a good day.@@@@1@11@@oe@2-2-2013
22382001@unknown@formal@none@1@S@Food and Drug Administration spokesman Jeff Nesbit said the agency has turned over evidence in a criminal investigation concerning Vitarine Pharmaceuticals Inc. to the U.S. Attorney's office in Baltimore.@@@@1@29@@oe@2-2-2013
22382002@unknown@formal@none@1@S@Neither Vitarine nor any of the Springfield Gardens, N.Y., company's officials or employees have been charged with any crimes.@@@@1@19@@oe@2-2-2013
22382003@unknown@formal@none@1@S@Vitarine won approval to market a version of a blood pressure medicine but acknowledged that it substituted a SmithKline Beecham PLC product as its own in tests.@@@@1@27@@oe@2-2-2013
22382004@unknown@formal@none@1@S@Mr. Nesbit also said the FDA has asked Bolar Pharmaceutical Co. to recall at the retail level its urinary tract antibiotic.@@@@1@21@@oe@2-2-2013
22382005@unknown@formal@none@1@S@But so far the company hasn't complied with that request, the spokesman said.@@@@1@13@@oe@2-2-2013
22382006@unknown@formal@none@1@S@Bolar, the subject of a criminal investigation by the FDA and the Inspector General's office of the Health and Human Services Department, only agreed to recall two strengths of its version of Macrodantin "as far down as direct customers, mostly wholesalers," Mr. Nesbit said.@@@@1@44@@oe@2-2-2013
22382007@unknown@formal@none@1@S@Bolar, of Copiague, N.Y., earlier began a voluntary recall of both its 100 milligram and 50 milligram versions of the drug.@@@@1@21@@oe@2-2-2013
22382008@unknown@formal@none@1@S@The FDA has said it presented evidence it uncovered to the company indicating that Bolar substituted the brand-name product for its own to gain government approval to sell generic versions of Macrodantin.@@@@1@32@@oe@2-2-2013
22382009@unknown@formal@none@1@S@Bolar has denied that it switched the brand-name product for its own in such testing.@@@@1@15@@oe@2-2-2013
22383001@unknown@formal@none@1@S@The West German retailer ASKO Deutsche Kaufhaus AG plans to challenge the legality of a widely employed anti-takeover defense of companies in the Netherlands.@@@@1@24@@oe@2-2-2013
22383002@unknown@formal@none@1@S@The eventual court decision could become a landmark in Dutch corporate law because the lawsuit ASKO plans to file would be the first to challenge the entire principle and practice of companies issuing voting preferred shares to management-controlled trusts to dilute voting power of common stockholders.@@@@1@46@@oe@2-2-2013
22383003@unknown@formal@none@1@S@Up to now only specific aspects of these defenses have been challenged, though unsuccessfully, ASKO's Dutch lawyers noted.@@@@1@18@@oe@2-2-2013
22383004@unknown@formal@none@1@S@Should the courts uphold the validity of this type of defense, ASKO will then ask the court to overturn such a vote-diluting maneuver recently deployed by Koninklijke Ahold NV.@@@@1@29@@oe@2-2-2013
22383005@unknown@formal@none@1@S@ASKO says the Dutch-based international food retailer hadn't reasonable grounds to issue preferred stock to a friendly trust and thus dilute the worth and voting power of ASKO and other shareholders.@@@@1@31@@oe@2-2-2013
22383006@unknown@formal@none@1@S@Speaking through its Dutch lawyers, ASKO also disclosed it holds a 15% stake in Ahold.@@@@1@15@@oe@2-2-2013
22383007@unknown@formal@none@1@S@It was previously thought ASKO held a 13.6% stake that was accumulated since July.@@@@1@14@@oe@2-2-2013
22383008@unknown@formal@none@1@S@A spokesman for Ahold said his company is confident of its own position and the propriety of the preferred-share issue.@@@@1@20@@oe@2-2-2013
22383009@unknown@formal@none@1@S@He termed ASKO's legal actions as "unproductive" to international cooperation among European retailers.@@@@1@13@@oe@2-2-2013
22384001@unknown@formal@none@1@S@Chase Manhattan Bank Chairman Willard Butcher is a conservative banker and a loyal Republican, but on Friday morning he had few kind words for President Bush's economic policy-making.@@@@1@28@@oe@2-2-2013
22384002@unknown@formal@none@1@S@"There are some very significant issues out there, such as the fiscal deficit, the trade deficit, our relations with Japan, that have to be the subject of major initiatives," he said in an interview.@@@@1@34@@oe@2-2-2013
22384003@unknown@formal@none@1@S@"I'd like to see that initiative, and I haven't.@@@@1@9@@oe@2-2-2013
22384004@unknown@formal@none@1@S@There isn't a big shot, an agenda."@@@@1@7@@oe@2-2-2013
22384005@unknown@formal@none@1@S@A few hours later, the stock market dropped 190 points.@@@@1@10@@oe@2-2-2013
22384006@unknown@formal@none@1@S@Politicians tried to finger each other for the blame, although many analysts doubt that Washington was singly responsible for Wall Street's woes.@@@@1@22@@oe@2-2-2013
22384007@unknown@formal@none@1@S@But Mr. Butcher's comments make one thing clear: Some on Wall Street wonder if anyone is in charge of economic policy.@@@@1@21@@oe@2-2-2013
22384008@unknown@formal@none@1@S@Consider this:@@@@1@2@@oe@2-2-2013
22384009@unknown@formal@none@1@S@-- By 11:59 p.m. tonight, President Bush must order $16 billion of automatic, across-the-board cuts in government spending to comply with the Gramm-Rudman budget law.@@@@1@25@@oe@2-2-2013
22384010@unknown@formal@none@1@S@The cuts are necessary because Congress and the administration have failed to reach agreement on a deficit-cutting bill.@@@@1@18@@oe@2-2-2013
22384011@unknown@formal@none@1@S@"We simply don't have strong leadership to try to reduce the deficit and make tough choices," House Budget Committee Chairman Leon Panetta (D., Calif.) said yesterday on NBC News's "Meet the Press."@@@@1@32@@oe@2-2-2013
22384012@unknown@formal@none@1@S@-- For the last two weeks, the Bush administration and the Federal Reserve have been engaged in a semi-public battle over international economic policy.@@@@1@24@@oe@2-2-2013
22384013@unknown@formal@none@1@S@The administration has been trying to push the dollar lower; the Fed has been resisting.@@@@1@15@@oe@2-2-2013
22384014@unknown@formal@none@1@S@"One of the things that continues to worry me is this monetary warfare between the Treasury Department and the Federal Reserve Board," said Lawrence Kudlow, a Bear, Stearns & Co. economist, on ABC's "This Week."@@@@1@35@@oe@2-2-2013
22384015@unknown@formal@none@1@S@-- The administration has sent out confusing signals about its response to a recent spate of airline takeovers.@@@@1@18@@oe@2-2-2013
22384016@unknown@formal@none@1@S@Last month, Transportation Secretary Sam Skinner forced Northwest Airlines to reduce a stake held by KLM Royal Dutch Airlines.@@@@1@19@@oe@2-2-2013
22384017@unknown@formal@none@1@S@But he has since run into opposition from the Treasury and the White House over that decision.@@@@1@17@@oe@2-2-2013
22384018@unknown@formal@none@1@S@And he has kept mum on how his decision might affect a bid for United Airlines, which includes a big stake by British Airways PLC.@@@@1@25@@oe@2-2-2013
22384019@unknown@formal@none@1@S@Some analysts say uncertainty about Washington's anti-takeover policy was one reason that financing for the United Airlines takeover fell through -- the event that triggered the market drop.@@@@1@28@@oe@2-2-2013
22384020@unknown@formal@none@1@S@In many ways, the backdrop to Friday's stock decline is eerily similar to that of October 1987's 508-point crash.@@@@1@19@@oe@2-2-2013
22384021@unknown@formal@none@1@S@Then, as now, the budget debate was behind schedule and automatic spending cuts were within days of taking hold.@@@@1@19@@oe@2-2-2013
22384022@unknown@formal@none@1@S@The Treasury was locked in a battle over international economic policy, although at that time it was with West German officials rather than the Federal Reserve.@@@@1@26@@oe@2-2-2013
22384023@unknown@formal@none@1@S@And concern about official actions aimed at takeovers -- then by the tax-writing House Ways and Means Committee rather than the Transportation Department -- were making markets nervous.@@@@1@28@@oe@2-2-2013
22384024@unknown@formal@none@1@S@The 1987 crash brought the Reagan administration and Democratic lawmakers to the table for the first budget summit, resulting in a two-year plan to reduce the deficit by more than $76 billion -- even though the deficit actually rose by nearly $12 billion during that period.@@@@1@46@@oe@2-2-2013
22384025@unknown@formal@none@1@S@But, barring further drops in the market this week, a similar outcome doesn't seem likely this year.@@@@1@17@@oe@2-2-2013
22384026@unknown@formal@none@1@S@Lawmakers and administration officials agree that Friday's drop, by itself, isn't enough to force both sides back to the table to try to reach a deficit-reduction agreement that would be more serious and more far-reaching than last spring's gimmick-ridden plan, which still isn't fully implemented.@@@@1@45@@oe@2-2-2013
22384027@unknown@formal@none@1@S@One of the biggest reasons that new talks aren't likely to come about is that, as everyone learned in 1987, the economy and the market can survive a one-day 508-point tumble.@@@@1@31@@oe@2-2-2013
22384028@unknown@formal@none@1@S@"Everybody thought we were looking at a repetition of 1929, that we were looking at a recession," Rep. Panetta said yesterday in an interview.@@@@1@24@@oe@2-2-2013
22384029@unknown@formal@none@1@S@"That did not happen.@@@@1@4@@oe@2-2-2013
22384030@unknown@formal@none@1@S@They learned they could survive it without much problem."@@@@1@9@@oe@2-2-2013
22384031@unknown@formal@none@1@S@But administration officials privately agree with Mr. Panetta, who said a precipitous drop this week "is going to force the president and Congress to take a much harder look at fiscal policy."@@@@1@32@@oe@2-2-2013
22384032@unknown@formal@none@1@S@In that case, there will be plenty of blame to go around.@@@@1@12@@oe@2-2-2013
22384033@unknown@formal@none@1@S@"There is an underlying concern on the part of the American people -- and there should be-that the administration has not gone far enough in cutting this deficit and that Congress has been unwilling to cut what the administration asked us to cut," said Senate Finance Committee Chairman Lloyd Bentsen (D., Texas).@@@@1@52@@oe@2-2-2013
22384034@unknown@formal@none@1@S@Nevertheless, it clearly will take more than Friday's 190-point decline to overcome the bitter feelings that have developed between lawmakers and White House Budget Director Richard Darman over the capital-gains fight.@@@@1@31@@oe@2-2-2013
22384035@unknown@formal@none@1@S@Hill Democrats are particularly angry over Mr. Bush's claim that the capital-gains cut was part of April's budget accord and his insistence on combining it with the deficit-reduction legislation.@@@@1@29@@oe@2-2-2013
22384036@unknown@formal@none@1@S@"There is no prospect of any so-called grand compromise or deal next year because the administration simply didn't live up to this year's deal," Senate Majority Leader George Mitchell (D., Maine) said yesterday on CBS News's "Face the Nation."@@@@1@39@@oe@2-2-2013
22384037@unknown@formal@none@1@S@During last week's maneuverings on the deficit-cutting bill and the capital-gains issue, there were signs that Senate Republicans and the administration were at odds.@@@@1@24@@oe@2-2-2013
22384038@unknown@formal@none@1@S@At the very moment that Senate Republicans were negotiating a deal to exclude capital gains from the deficit-reduction legislation, White House spokesman Marlin Fitzwater told reporters that it was the president's policy to include it.@@@@1@35@@oe@2-2-2013
22384039@unknown@formal@none@1@S@When an agreement was reached to strip capital gains from the legislation, Oregon Sen. Bob Packwood, the ranking GOP member of the tax-writing Senate Finance Committee, hailed it.@@@@1@28@@oe@2-2-2013
22384040@unknown@formal@none@1@S@Asked if the administration agreed, he curtly replied: "The adminstration will have to speak for itself."@@@@1@16@@oe@2-2-2013
22384041@unknown@formal@none@1@S@Friday's market tumble could spur action on reconciling the House and Senate versions of the deficit-reduction measure, a process that isn't expected to begin until tomorrow at the soonest.@@@@1@29@@oe@2-2-2013
22384042@unknown@formal@none@1@S@Senate Republicans expressed the hope that the House would follow the lead of the Senate, which on Friday agreed to drop a variety of spending measures and tax breaks that would have increased the fiscal 1990 deficit.@@@@1@37@@oe@2-2-2013
22384043@unknown@formal@none@1@S@"The market needs a strong signal that we're serious about deficit reduction, and the best way to do that is for the House of Representatives to strip their bill" of similar provisions, Sen. Warren Rudman (R., N.H.). said yesterday.@@@@1@39@@oe@2-2-2013
22384044@unknown@formal@none@1@S@The White House Office of Management and Budget, whose calculations determine whether the Gramm-Rudman targets are met, estimated that the House-passed deficit-reduction measure would cut the fiscal 1990 shortfall by $6.2 billion, almost half of the Congressional Budget Office's estimate of $11.0 billion.@@@@1@43@@oe@2-2-2013
22384045@unknown@formal@none@1@S@Rep. Panetta said that OMB's figure would still be enough to avoid permanent across-the-board cuts, but added: "We're getting very close to the margins here."@@@@1@25@@oe@2-2-2013
22384046@unknown@formal@none@1@S@No one in Washington was willing to take the blame for provoking Friday's drop in the stock market.@@@@1@18@@oe@2-2-2013
22384047@unknown@formal@none@1@S@But some players were quick to seize the moment.@@@@1@9@@oe@2-2-2013
22384048@unknown@formal@none@1@S@Before the sun had set on Friday, Richard Rahn, the supply-side chief economist of the U.S. Chamber of Commerce, issued a statement attributing the drop in stock prices to the Senate decision to postpone action on capital gains.@@@@1@38@@oe@2-2-2013
22384049@unknown@formal@none@1@S@"Investors, who had been holding assets in anticipation of a more favorable time to sell, were spooked," he said.@@@@1@19@@oe@2-2-2013
22384050@unknown@formal@none@1@S@"There have been many preposterous reasons advanced to support a capital-gains tax cut," Sen. Mitchell said during his television appearance, "but I suggest that is perhaps more than any of the others.@@@@1@32@@oe@2-2-2013
22385001@unknown@formal@none@1@S@The following U.S. Treasury, corporate and municipal offerings are tentatively scheduled for sale this week, according to Dow Jones Capital Markets Report:@@@@1@22@@oe@2-2-2013
22385002@unknown@formal@none@1@S@$15.2 billion of three-month and six-month bills.@@@@1@7@@oe@2-2-2013
22385003@unknown@formal@none@1@S@Two-year notes, refinancing about $9.6 billion in maturing debt.@@@@1@9@@oe@2-2-2013
22385004@unknown@formal@none@1@S@$9.75 billion of 52-week bills.@@@@1@5@@oe@2-2-2013
22385005@unknown@formal@none@1@S@Connecticut Light & Power Co. --@@@@1@6@@oe@2-2-2013
22385006@unknown@formal@none@1@S@Three million shares of $25 preferred, via competitive bidding.@@@@1@9@@oe@2-2-2013
22385007@unknown@formal@none@1@S@B&H Crude Carriers Ltd. --@@@@1@5@@oe@2-2-2013
22385008@unknown@formal@none@1@S@Four million common shares, via Salomon Brothers Inc.@@@@1@8@@oe@2-2-2013
22385009@unknown@formal@none@1@S@Baldwin Technology Co. --@@@@1@4@@oe@2-2-2013
22385010@unknown@formal@none@1@S@2.6 million Class A shares, via Smith Barney Harris Upham & Co.@@@@1@12@@oe@2-2-2013
22385011@unknown@formal@none@1@S@Blockbuster Entertainment Corp. --@@@@1@4@@oe@2-2-2013
22385012@unknown@formal@none@1@S@$250 million (face amount) Liquid Yield Option Notes, via Merrill Lynch Capital Markets.@@@@1@13@@oe@2-2-2013
22385013@unknown@formal@none@1@S@Chase Manhattan Corp. --@@@@1@4@@oe@2-2-2013
22385014@unknown@formal@none@1@S@14 million common shares, via Goldman, Sachs & Co.@@@@1@9@@oe@2-2-2013
22385015@unknown@formal@none@1@S@Comcast Corp. --@@@@1@3@@oe@2-2-2013
22385016@unknown@formal@none@1@S@$150 million convertible debentures, via Merrill Lynch.@@@@1@7@@oe@2-2-2013
22385017@unknown@formal@none@1@S@CSS Industries --@@@@1@3@@oe@2-2-2013
22385018@unknown@formal@none@1@S@1.3 million common shares, via Merrill Lynch.@@@@1@7@@oe@2-2-2013
22385019@unknown@formal@none@1@S@Eastern Utilities Associates --@@@@1@4@@oe@2-2-2013
22385020@unknown@formal@none@1@S@1.5 million common shares, via PaineWebber Inc.@@@@1@7@@oe@2-2-2013
22385021@unknown@formal@none@1@S@Employee Benefit Plans Inc. --@@@@1@5@@oe@2-2-2013
22385022@unknown@formal@none@1@S@Two million common shares, via Dean Witter Capital Markets.@@@@1@9@@oe@2-2-2013
22385023@unknown@formal@none@1@S@Exabyte Corp. --@@@@1@3@@oe@2-2-2013
22385024@unknown@formal@none@1@S@2,850,000 common shares, via Goldman Sachs.@@@@1@6@@oe@2-2-2013
22385025@unknown@formal@none@1@S@Knowledgeware Inc. --@@@@1@3@@oe@2-2-2013
22385026@unknown@formal@none@1@S@2.4 million common shares, via Montgomery Securities.@@@@1@7@@oe@2-2-2013
22385027@unknown@formal@none@1@S@Oregon --@@@@1@2@@oe@2-2-2013
22385028@unknown@formal@none@1@S@$100 million of general obligation veterans' tax notes, Series 1989, via competitive bid.@@@@1@13@@oe@2-2-2013
22385029@unknown@formal@none@1@S@Washington, D.C. --@@@@1@3@@oe@2-2-2013
22385030@unknown@formal@none@1@S@$200 million of 1990 general obligation tax revenue notes (Series 1990A), via competitive bid.@@@@1@14@@oe@2-2-2013
22385031@unknown@formal@none@1@S@Virginia Public School Authority --@@@@1@5@@oe@2-2-2013
22385032@unknown@formal@none@1@S@$55,730,000 of school financing bonds, 1989 Series B (1987 resolution), via competitive bid.@@@@1@13@@oe@2-2-2013
22385033@unknown@formal@none@1@S@Austin, Texas --@@@@1@3@@oe@2-2-2013
22385034@unknown@formal@none@1@S@$68,230,000 of various bonds, including $32 million hotel occupancy tax revenue bonds, Series 1989A, and $36.23 million convention center revenue bonds, Series 1989B, via a Morgan Stanley & Co. group.@@@@1@30@@oe@2-2-2013
22385035@unknown@formal@none@1@S@California Health Facilities Financing Authority --@@@@1@6@@oe@2-2-2013
22385036@unknown@formal@none@1@S@$144.5 million of Kaiser Permanente revenue bonds, via a PaineWebber group.@@@@1@11@@oe@2-2-2013
22385037@unknown@formal@none@1@S@Connecticut --@@@@1@2@@oe@2-2-2013
22385038@unknown@formal@none@1@S@$100 million of general obligation capital appreciation bonds, College Savings Plan, 1989 Series B, via a Prudential-Bache Capital Funding group.@@@@1@20@@oe@2-2-2013
22385039@unknown@formal@none@1@S@Pennsylvania Higher Education Facilities Authority --@@@@1@6@@oe@2-2-2013
22385040@unknown@formal@none@1@S@$117 million of revenue bonds for Hahnemann University, Series 1989, via a Merrill Lynch group.@@@@1@15@@oe@2-2-2013
22385041@unknown@formal@none@1@S@Tennessee Valley Authority --@@@@1@4@@oe@2-2-2013
22385042@unknown@formal@none@1@S@Three billion of power bonds, via First Boston Corp.@@@@1@9@@oe@2-2-2013
22385043@unknown@formal@none@1@S@University of Medicine And Dentistry of New Jersey --@@@@1@9@@oe@2-2-2013
22385044@unknown@formal@none@1@S@$55 million of Series C bonds, via a Prudential-Bache group.@@@@1@10@@oe@2-2-2013
22385045@unknown@formal@none@1@S@West Virginia Parkways, Economic Development And Tourism Authority --@@@@1@9@@oe@2-2-2013
22385046@unknown@formal@none@1@S@$143 million of parkway revenue bonds, Series 1989, via a PaineWebber group.@@@@1@12@@oe@2-2-2013
22385047@unknown@formal@none@1@S@San Antonio, Texas --@@@@1@4@@oe@2-2-2013
22385048@unknown@formal@none@1@S@$640 million of gas and electric revenue refunding bonds, via a First Boston group.@@@@1@14@@oe@2-2-2013
22385049@unknown@formal@none@1@S@South Dakota Health & Education Facility Authority --@@@@1@8@@oe@2-2-2013
22385050@unknown@formal@none@1@S@$51.1 million of Rapid City Regional Hospital bonds, via a Dougherty, Dawkins, Strand & Yost Inc. group.@@@@1@17@@oe@2-2-2013
22386001@unknown@formal@none@1@S@Small investors matched their big institutional brethren in anxiety over the weekend, but most seemed to be taking a philosophical approach and said they were resigned to riding out the latest storm in the stock market.@@@@1@36@@oe@2-2-2013
22386002@unknown@formal@none@1@S@"I'm not losing faith in the market," said Boston lawyer Christopher Sullivan as he watched the market plunge on a big screen in front of a brokerage firm.@@@@1@28@@oe@2-2-2013
22386003@unknown@formal@none@1@S@But he's not so sure about everyone else.@@@@1@8@@oe@2-2-2013
22386004@unknown@formal@none@1@S@"I think on Monday the small (investors) are going to panic and sell," predicted Mr. Sullivan, whose investments include AMR Corp.'s American Airlines unit and several mutual funds.@@@@1@28@@oe@2-2-2013
22386005@unknown@formal@none@1@S@"And I think institutions are going to come in and buy . . .@@@@1@14@@oe@2-2-2013
22386006@unknown@formal@none@1@S@I'm going to hold on.@@@@1@5@@oe@2-2-2013
22386007@unknown@formal@none@1@S@If I sell now, I'll take a big loss."@@@@1@9@@oe@2-2-2013
22386008@unknown@formal@none@1@S@Some evinced an optimism that had been rewarded when they didn't flee the market in 1987.@@@@1@16@@oe@2-2-2013
22386009@unknown@formal@none@1@S@"Oh, I bet it'll be up 50 points on Monday," said Lucy Crump, a 78-year-old retired housewife in Lexington, Ky.@@@@1@20@@oe@2-2-2013
22386010@unknown@formal@none@1@S@Mrs. Crump said her Ashwood Investment Club's portfolio lost about one-third of its value following the Black Monday crash, "but no one got discouraged, and we gained that back -- and more."@@@@1@32@@oe@2-2-2013
22386011@unknown@formal@none@1@S@At the annual congress of the National Association of Investors Corp. at the Hyatt Regency hotel in Minneapolis, the scene was calm.@@@@1@22@@oe@2-2-2013
22386012@unknown@formal@none@1@S@Some 500 investors representing investor clubs from around the U.S. were attending when the market started to slide Friday.@@@@1@19@@oe@2-2-2013
22386013@unknown@formal@none@1@S@But Robert Showalter, an official of the association, said no special bulletins or emergency meetings of the investors' clubs are planned.@@@@1@21@@oe@2-2-2013
22386014@unknown@formal@none@1@S@In fact, some of the association's members -- long-term, buy-and-hold investors -- welcomed the drop in prices.@@@@1@17@@oe@2-2-2013
22386015@unknown@formal@none@1@S@"We hope to take advantage of it," said John Snyder, a member of a Los Angeles investors' club.@@@@1@18@@oe@2-2-2013
22386016@unknown@formal@none@1@S@He has four stocks in mind to buy if the prices drop to the level he wants.@@@@1@17@@oe@2-2-2013
22386017@unknown@formal@none@1@S@Not everyone is reacting so calmly, however, and many wonder about the long-term implications of what is widely viewed as the cause of Friday's slide, reluctance by banks to provide financing for a buy-out of UAL Corp., parent of United Airlines.@@@@1@41@@oe@2-2-2013
22386018@unknown@formal@none@1@S@Marc Perkins, a Tampa, Fla., investment banker, said the market drop is one of "a tremendous number of signs that the leveraged take-out era is ending.@@@@1@26@@oe@2-2-2013
22386019@unknown@formal@none@1@S@There's no question that there's a general distaste for leverage among lenders.@@@@1@12@@oe@2-2-2013
22386020@unknown@formal@none@1@S@" Mr. Perkins believes, however, that the market could be stabilized if California investor Marvin Davis steps back in to the United bidding with an offer of $275 a share.@@@@1@30@@oe@2-2-2013
22386021@unknown@formal@none@1@S@Sara Albert, a 34-year-old Dallas law student, says she's generally skittish about the stock market and the takeover activity that seems to fuel it.@@@@1@24@@oe@2-2-2013
22386022@unknown@formal@none@1@S@"I have this feeling that it's built on sand," she says, that the market rises "but there's no foundation to it."@@@@1@21@@oe@2-2-2013
22386023@unknown@formal@none@1@S@She and her husband pulled most of their investments out of the market after the 1987 crash, although she still owns some Texaco stock.@@@@1@24@@oe@2-2-2013
22386024@unknown@formal@none@1@S@Partly because of concern about the economy and partly because she recently quit her job as a legal assistant to go to school, "I think at this point we want to be a lot more liquid."@@@@1@36@@oe@2-2-2013
22386025@unknown@formal@none@1@S@Others wonder how many more of these shocks the small investor can stand.@@@@1@13@@oe@2-2-2013
22386026@unknown@formal@none@1@S@"We all assumed October '87 was a one-time shot," said San Francisco attorney David Greenberg.@@@@1@15@@oe@2-2-2013
22386027@unknown@formal@none@1@S@"We told the little guy it could only happen once in a lifetime, come on back.@@@@1@16@@oe@2-2-2013
22386028@unknown@formal@none@1@S@Now it's happening again."@@@@1@4@@oe@2-2-2013
22386029@unknown@formal@none@1@S@Mr. Greenberg got out just before the 1987 crash and, to his regret, never went back even as the market soared.@@@@1@21@@oe@2-2-2013
22386030@unknown@formal@none@1@S@This time he's ready to buy in "when the panic wears off."@@@@1@12@@oe@2-2-2013
22386031@unknown@formal@none@1@S@Still, he adds: "We can't have this kind of thing happen very often.@@@@1@13@@oe@2-2-2013
22386032@unknown@formal@none@1@S@When the little guy gets frightened, the big guys hurt badly.@@@@1@11@@oe@2-2-2013
22386033@unknown@formal@none@1@S@Merrill Lynch can't survive without the little guy."@@@@1@8@@oe@2-2-2013
22386034@unknown@formal@none@1@S@Small investors have tiptoed back into the market following Black Monday, but mostly through mutual funds.@@@@1@16@@oe@2-2-2013
22386035@unknown@formal@none@1@S@Discount brokerage customers "have been in the market somewhat but not whole hog like they were two years ago," says Leslie Quick Jr., chairman of the Quick & Reilly discount brokerage firm.@@@@1@32@@oe@2-2-2013
22386036@unknown@formal@none@1@S@Hugo Quackenbush, senior vice president at Charles Scwhab Corp., says Schwab customers "have been neutral to cautious recently about stocks."@@@@1@20@@oe@2-2-2013
22386037@unknown@formal@none@1@S@Individual investors are still angry about program trading, Mr. Quackenbush says.@@@@1@11@@oe@2-2-2013
22386038@unknown@formal@none@1@S@Avner Arbel, a Cornell University finance professor, says government regulators will have to more closely control program trading to "win back the confidence of the small investor."@@@@1@27@@oe@2-2-2013
22386039@unknown@formal@none@1@S@But it's not only the stock market that has some small investors worried.@@@@1@13@@oe@2-2-2013
22386040@unknown@formal@none@1@S@Alan Helfman, general sales manager of a Chrysler dealership in Houston, said he and his mother have some joint stock investments, but the overall economy is his chief worry.@@@@1@29@@oe@2-2-2013
22386041@unknown@formal@none@1@S@"These high rollers took a big bath today," he said in his showroom, which is within a few miles of the multi-million dollar homes of some of Houston's richest citizens.@@@@1@30@@oe@2-2-2013
22386042@unknown@formal@none@1@S@"And I can tell you that a high roller isn't going to come in tomorrow and buy a Chrysler TC by Maserati."@@@@1@22@@oe@2-2-2013
22386043@unknown@formal@none@1@S@And, finally, there were the gloaters.@@@@1@6@@oe@2-2-2013
22386044@unknown@formal@none@1@S@"I got out in 1987.@@@@1@5@@oe@2-2-2013
22386045@unknown@formal@none@1@S@Everything," said Pascal Antori, an Akron, Ohio, plumbing contractor who was visiting Chicago and stopped by Fidelity Investments' LaSalle Street office.@@@@1@21@@oe@2-2-2013
22386046@unknown@formal@none@1@S@"I just stopped by to see how much I would have lost."@@@@1@12@@oe@2-2-2013
22386047@unknown@formal@none@1@S@Would Mr. Antori ever get back in?@@@@1@7@@oe@2-2-2013
22386048@unknown@formal@none@1@S@"Are you kidding!@@@@1@3@@oe@2-2-2013
22386049@unknown@formal@none@1@S@When it comes to money: Once bitten, 2,000 times shy.@@@@1@10@@oe@2-2-2013
22387001@unknown@formal@none@1@S@The crowded field for notebook-sized computers is about to become a lot more crowded.@@@@1@14@@oe@2-2-2013
22387002@unknown@formal@none@1@S@Compaq Computer Corp.'s long-awaited entry today into the notebook field is expected to put immediate heat on others in the market, especially Zenith Electronics Corp., the current market leader, and on a swarm of promising start-ups.@@@@1@36@@oe@2-2-2013
22387003@unknown@formal@none@1@S@Compaq's series of notebooks extends a trend toward downsizing in the personal computer market.@@@@1@14@@oe@2-2-2013
22387004@unknown@formal@none@1@S@One manufacturer already has produced a clipboard-sized computer called a notepad, and two others have introduced even smaller "palmtops."@@@@1@19@@oe@2-2-2013
22387005@unknown@formal@none@1@S@But those machines are still considered novelties, with keyboards only a munchkin could love and screens to match.@@@@1@18@@oe@2-2-2013
22387006@unknown@formal@none@1@S@Compaq's notebooks, by contrast, may be the first in their weight class not to skimp on features found in much bigger machines.@@@@1@22@@oe@2-2-2013
22387007@unknown@formal@none@1@S@Analysts say they're faster and carry more memory than anything else of their size on the market -- and they're priced aggressively at $2,400 to $5,000.@@@@1@26@@oe@2-2-2013
22387008@unknown@formal@none@1@S@All of this comes in a machine that weighs only six pounds and fits comfortably into most briefcases.@@@@1@18@@oe@2-2-2013
22387009@unknown@formal@none@1@S@In recent months, Compaq's competition, including Zenith, Toshiba Corp., Tandy Corp. and NEC Corp. all have introduced portables that weigh approximately the same and that are called notebooks -- perhaps misleadingly.@@@@1@31@@oe@2-2-2013
22387010@unknown@formal@none@1@S@One analyst, noting that most such machines are about two inches thick, takes exception to the name.@@@@1@17@@oe@2-2-2013
22387011@unknown@formal@none@1@S@"This isn't quite a notebook -- I call it a phonebook," he says.@@@@1@13@@oe@2-2-2013
22387012@unknown@formal@none@1@S@That can't be said of the $2,400 notepad computer introduced a few weeks ago by GRiD Systems Corp., a unit of Tandy.@@@@1@22@@oe@2-2-2013
22387013@unknown@formal@none@1@S@Instead of a keyboard, it features a writing surface, an electronic pen and the ability to "read" block printing.@@@@1@19@@oe@2-2-2013
22387014@unknown@formal@none@1@S@At 4 1/2 pounds, it may be too ambitiously named, but it nevertheless opens up the kind of marketing possibilities that make analysts froth.@@@@1@24@@oe@2-2-2013
22387015@unknown@formal@none@1@S@Palmtops aren't far behind.@@@@1@4@@oe@2-2-2013
22387016@unknown@formal@none@1@S@Atari Corp.'s Portfolio, introduced in Europe two months ago and in the U.S. in early September, weighs less than a pound, costs a mere $400 and runs on three AA batteries, yet has the power to run some spreadsheets and word processing programs.@@@@1@43@@oe@2-2-2013
22387017@unknown@formal@none@1@S@Some critics, however, say its ability to run commonplace programs is restricted by a limited memory.@@@@1@16@@oe@2-2-2013
22387018@unknown@formal@none@1@S@Poquet Computer Corp., meanwhile, has introduced a much more sophisticated palmtop that can run Lotus 1-2-3 and other sophisticated software programs, but costs five times as much.@@@@1@27@@oe@2-2-2013
22387019@unknown@formal@none@1@S@At stake is what Mike Swavely, Compaq's president of North America operations, calls "the Holy Grail of the computer industry" -- the search for "a real computer in a package so small you can take it everywhere."@@@@1@37@@oe@2-2-2013
22387020@unknown@formal@none@1@S@The market is so new, nobody knows yet how big it can be.@@@@1@13@@oe@2-2-2013
22387021@unknown@formal@none@1@S@"I've had a lot of people trying to sell me services to find out how big it is," says Tom Humphries, director of marketing for GRiD.@@@@1@26@@oe@2-2-2013
22387022@unknown@formal@none@1@S@"Whether it's $5 billion or $3.5 billion, it doesn't matter.@@@@1@10@@oe@2-2-2013
22387023@unknown@formal@none@1@S@It's huge."@@@@1@2@@oe@2-2-2013
22387024@unknown@formal@none@1@S@Consider the growth of portables, which now comprise 12% of all personal computer sales.@@@@1@14@@oe@2-2-2013
22387025@unknown@formal@none@1@S@Laptops -- generally anything under 15 pounds -- have become the fastest-growing personal computer segment, with sales doubling this year.@@@@1@20@@oe@2-2-2013
22387026@unknown@formal@none@1@S@Responding to that demand, however, has led to a variety of compromises.@@@@1@12@@oe@2-2-2013
22387027@unknown@formal@none@1@S@Making computers smaller often means sacrificing memory.@@@@1@7@@oe@2-2-2013
22387028@unknown@formal@none@1@S@It also has precluded use of the faster, more powerful microprocessors found in increasing numbers of desktop machines.@@@@1@18@@oe@2-2-2013
22387029@unknown@formal@none@1@S@Size and weight considerations also have limited screen displays.@@@@1@9@@oe@2-2-2013
22387030@unknown@formal@none@1@S@The competitive sniping can get pretty petty at times.@@@@1@9@@oe@2-2-2013
22387031@unknown@formal@none@1@S@A Poquet spokesman, for example, criticizes the Atari Portfolio because it requires three batteries while the Poquet needs only two.@@@@1@20@@oe@2-2-2013
22387032@unknown@formal@none@1@S@Both palmtops are dismissed by notebook makers, who argue that they're too small -- a problem Poquet also encountered in focus groups, admits Gerry Purdy, director of marketing.@@@@1@28@@oe@2-2-2013
22387033@unknown@formal@none@1@S@Poquet, trying to avoid the "gadget" label, responded with the tag line, "The Poquet PC -- a Very Big Computer."@@@@1@20@@oe@2-2-2013
22387034@unknown@formal@none@1@S@Despite the sniping, few question the inevitability of the move to small machines that don't make compromises.@@@@1@17@@oe@2-2-2013
22387035@unknown@formal@none@1@S@Toward that end, experts say the real battle will take place between center-stage players like Toshiba, Zenith and now Compaq.@@@@1@20@@oe@2-2-2013
22387036@unknown@formal@none@1@S@Compaq's new machines are considered a direct threat to start-up firms like Dynabook Inc., which introduced in June a computer that, like Compaq's, uses an Intel 286 microprocessor and has a hard disk drive.@@@@1@34@@oe@2-2-2013
22387037@unknown@formal@none@1@S@But the Dynabook product is twice as heavy and costs more than Compaq's.@@@@1@13@@oe@2-2-2013
22387038@unknown@formal@none@1@S@Compaq's announcement also spells trouble for Zenith, which last year had 28% of the U.S. laptop market but recently agreed to sell its computer business to Cie. des Machines Bull, the French government-owned computer maker.@@@@1@35@@oe@2-2-2013
22387039@unknown@formal@none@1@S@Zenith holders will vote in December on the proposed $635 million sale, a price that could slip because it is pegged to Zenith's share and sales.@@@@1@26@@oe@2-2-2013
22387040@unknown@formal@none@1@S@Compaq is already taking aim at Zenith's market share.@@@@1@9@@oe@2-2-2013
22387041@unknown@formal@none@1@S@Rod Canion, Compaq's president and chief executive officer, notes pointedly that Zenith's $2,000 MinisPort uses an "unconventional" two-inch floppy disk, whereas Compaq's new machines use the more common 3 1/2-inch disk.@@@@1@31@@oe@2-2-2013
22387042@unknown@formal@none@1@S@John P. Frank, president of Zenith Data Systems, simply shrugs off such criticism, noting that 3 1/2-inch floppies were also "unconventional" when they first replaced five-inch disks.@@@@1@27@@oe@2-2-2013
22387043@unknown@formal@none@1@S@"We don't look at it as not being a standard, we look at it as a new standard," he argues.@@@@1@20@@oe@2-2-2013
22387044@unknown@formal@none@1@S@Analysts don't see it that way.@@@@1@6@@oe@2-2-2013
22387045@unknown@formal@none@1@S@"I can't imagine that you'll talk to anyone who won't tell you this is dynamite for Compaq and a stopper for everyone else," says Gene Talsky, president of Professional Marketing Management Inc.@@@@1@32@@oe@2-2-2013
22387046@unknown@formal@none@1@S@Adds Bill Lempesis, senior industry analyst for DataQuest, a high-technology market research firm: "We basically think that these are very hot products.@@@@1@22@@oe@2-2-2013
22387047@unknown@formal@none@1@S@The problem Compaq is going to have is that they won't be able to make enough of them."@@@@1@18@@oe@2-2-2013
22387048@unknown@formal@none@1@S@Compaq's machines include the 3 1/2-inch floppy disk drive, a backlit screen that is only 1/4-inch thick and an internal expansion slot for a modem -- in other words, almost all the capabilities of a typical office machine.@@@@1@38@@oe@2-2-2013
22387049@unknown@formal@none@1@S@Others undoubtedly will follow, but most analysts believe Compaq has at least a six-month lead on the competition.@@@@1@18@@oe@2-2-2013
22387050@unknown@formal@none@1@S@Toshiba's line of portables, for example, features the T-1000, which is in the same weight class but is much slower and has less memory, and the T-1600, which also uses a 286 microprocessor, but which weighs almost twice as much and is three times the size.@@@@1@46@@oe@2-2-2013
22387051@unknown@formal@none@1@S@A third model, marketed in Japan, may hit the U.S. by the end of the first quarter of 1990, but by then, analysts say, Compaq will have established itself as one of three major players.@@@@1@35@@oe@2-2-2013
22387052@unknown@formal@none@1@S@What about Big Blue?@@@@1@4@@oe@2-2-2013
22387053@unknown@formal@none@1@S@International Business Machines Corp., analysts say, has been burned twice in trying to enter the laptop market and shows no signs of trying to get into notebooks anytime soon.@@@@1@29@@oe@2-2-2013
22388001@unknown@formal@none@1@S@Honeywell Inc. and International Business Machines Corp. received Air Force contracts to develop integrated circuits for use in space.@@@@1@19@@oe@2-2-2013
22388002@unknown@formal@none@1@S@Honeywell's contract totaled $69.7 million, and IBM's $68.8 million.@@@@1@9@@oe@2-2-2013
22388003@unknown@formal@none@1@S@Boeing Co. received a $46.7 million Air Force contract for developing cable systems for the Minuteman Missile.@@@@1@17@@oe@2-2-2013
22388004@unknown@formal@none@1@S@General Dynamics Corp. received a $29 million Air Force contract for electronic-warfare training sets.@@@@1@14@@oe@2-2-2013
22388005@unknown@formal@none@1@S@Grumman Corp. received an $18.1 million Navy contract to upgrade aircraft electronics.@@@@1@12@@oe@2-2-2013
22388006@unknown@formal@none@1@S@Avco Corp. received an $11.8 million Army contract for helicopter engines.@@@@1@11@@oe@2-2-2013
22389001@unknown@formal@none@1@S@Sharp increases in the price of fresh produce caused Spain's September consumer price index to shoot up 1.1% from the previous month, pushing the annual rate of inflation to 6.8%, the National Institute of Statistics said Friday.@@@@1@37@@oe@2-2-2013
22389002@unknown@formal@none@1@S@The monthly increase is the highest recorded in the past four years.@@@@1@12@@oe@2-2-2013
22389003@unknown@formal@none@1@S@The index, which registered 156.8 at the end of September, has a base of 100 set in 1983 and isn't seasonally adjusted.@@@@1@22@@oe@2-2-2013
22389004@unknown@formal@none@1@S@Prices have risen 5.9% in the first nine months of the year, outstripping both the initial 3% inflation goal set by the government of Socialist Prime Minister Felipe Gonzalez and the second, revised goal of 5.8%.@@@@1@36@@oe@2-2-2013
22390001@unknown@formal@none@1@S@Japan's wholesale prices in September rose 3.3% from a year earlier and were up 0.4% from the previous month, the Bank of Japan announced Friday.@@@@1@25@@oe@2-2-2013
22390002@unknown@formal@none@1@S@The wholesale price index stood at 90.1, compared with a 1985 base of 100.@@@@1@14@@oe@2-2-2013
22391001@unknown@formal@none@1@S@Plunge?@@@@1@1@@oe@2-2-2013
22391002@unknown@formal@none@1@S@What plunge?@@@@1@2@@oe@2-2-2013
22391003@unknown@formal@none@1@S@Twenty-four New York Stock Exchange issues hit 52-week highs during Friday's trading, despite the Dow Jones Industrial Average's 190.58-point plunge.@@@@1@20@@oe@2-2-2013
22391004@unknown@formal@none@1@S@Stocks of utilities held up relatively better than other market sectors during the sell-off.@@@@1@14@@oe@2-2-2013
22391005@unknown@formal@none@1@S@And among the issues hitting new highs were Detroit Edison Co. and Niagara Mohawk Power Corp.@@@@1@16@@oe@2-2-2013
22391006@unknown@formal@none@1@S@Other major issues hitting highs included American Telephone & Telegraph Co., Westinghouse Electric Corp., Exxon Corp. and Cigna Corp., the big insurer.@@@@1@22@@oe@2-2-2013
22391007@unknown@formal@none@1@S@Of course, many more issues -- 93 -- hit new lows.@@@@1@11@@oe@2-2-2013
22391008@unknown@formal@none@1@S@These included International Business Machines Corp., which during Friday's session traded below $100 a share for the first time since June 1984.@@@@1@22@@oe@2-2-2013
22391009@unknown@formal@none@1@S@IBM closed at $102, down $5.625.@@@@1@6@@oe@2-2-2013
22391010@unknown@formal@none@1@S@Other new lows included Navistar International Corp., Union Carbide Corp. and Bethlehem Steel Corp., all of which are included in the industrial average.@@@@1@23@@oe@2-2-2013
22391011@unknown@formal@none@1@S@Meanwhile, two initial public offerings braved the cascading market in their maiden day of national over-the-counter trading Friday.@@@@1@18@@oe@2-2-2013
22391012@unknown@formal@none@1@S@Shares of Rally's Inc., an operator of fast-food restaurants, closed at $17 each, up from its $15 offering price and shares of Employee Benefit Plans Inc., a health-care consultant, closed at $14.125, up from its $12 offering price.@@@@1@38@@oe@2-2-2013
22392001@unknown@formal@none@1@S@Ford Motor Co. said it acquired 5% of the shares in Jaguar PLC.@@@@1@13@@oe@2-2-2013
22392002@unknown@formal@none@1@S@Jaguar, the London Stock Exchange and the U.S. Securities and Exchange Commission are being notified of the transactions, the company said.@@@@1@21@@oe@2-2-2013
22392003@unknown@formal@none@1@S@The U.S. Federal Trade Commission advised Ford last week that it wouldn't raise any objection to the acquisition of as much as 15% of Jaguar shares.@@@@1@26@@oe@2-2-2013
22392004@unknown@formal@none@1@S@The No. 2 auto maker disclosed last month that it wants to buy as much as 15% of the British luxury-car maker, the maximum allowed under current United Kingdom government restrictions.@@@@1@31@@oe@2-2-2013
22392005@unknown@formal@none@1@S@General Motors Corp. said it had discussed the possibility of a joint venture with Jaguar before Ford began buying shares.@@@@1@20@@oe@2-2-2013
22392006@unknown@formal@none@1@S@GM said it still is talking with Jaguar about acquiring a minority interest.@@@@1@13@@oe@2-2-2013
22393001@unknown@formal@none@1@S@Investors who bought stock with borrowed money -- that is, "on margin" -- may be more worried than most following Friday's market drop.@@@@1@23@@oe@2-2-2013
22393002@unknown@formal@none@1@S@That's because their brokers can require them to sell some shares or put up more cash to enhance the collateral backing their loans.@@@@1@23@@oe@2-2-2013
22393003@unknown@formal@none@1@S@In October 1987, these margin calls were thought to have contributed to the downward spiral of the stock market.@@@@1@19@@oe@2-2-2013
22393004@unknown@formal@none@1@S@Typically, a margin call occurs when the price of a stock falls below 75% of its original value.@@@@1@18@@oe@2-2-2013
22393005@unknown@formal@none@1@S@If the investor doesn't put up the extra cash to satisfy the call, the brokerage firm may begin liquidating the securities.@@@@1@21@@oe@2-2-2013
22393006@unknown@formal@none@1@S@But some big brokerage firms said they don't expect major problems as a result of margin calls.@@@@1@17@@oe@2-2-2013
22393007@unknown@formal@none@1@S@Margin calls since Friday "have been higher than usual, but reasonable," a spokesman for Shearson Lehman Hutton Inc. said.@@@@1@19@@oe@2-2-2013
22393008@unknown@formal@none@1@S@Merrill Lynch & Co. officials "don't expect {margin calls} to be as big a factor as in 1987" because fewer individual investors are buying stock on margin, a spokesman said.@@@@1@30@@oe@2-2-2013
22393009@unknown@formal@none@1@S@Hugo Quackenbush, senior vice president at Charles Schwab Corp., the San Francisco-based discount brokerage firm, said he didn't expect any immediate problems with margin calls for Schwab customers.@@@@1@28@@oe@2-2-2013
22393010@unknown@formal@none@1@S@He said Schwab had increased margin requirements "so customers have more of a cushion."@@@@1@14@@oe@2-2-2013
22393011@unknown@formal@none@1@S@He added: "We learned a lesson in 1987 about volatility.@@@@1@10@@oe@2-2-2013
22394001@unknown@formal@none@1@S@Avis Inc., following rival Hertz Corp.'s lead, said it is backing out of frequent-flier programs with three airlines.@@@@1@18@@oe@2-2-2013
22394002@unknown@formal@none@1@S@The Garden City, N.Y., car-rental company said it won't renew contracts with NWA Inc.'s Northwest Airlines unit, Pan Am Corp.'s Pan American World Airways unit and Midway Airlines at the end of this year.@@@@1@34@@oe@2-2-2013
22394003@unknown@formal@none@1@S@But it remains involved in programs with AMR Corp.'s American Airlines unit and Delta Air Lines.@@@@1@16@@oe@2-2-2013
22394004@unknown@formal@none@1@S@Industry estimates put Avis's annual cost of all five programs at between $8 million and $14 million.@@@@1@17@@oe@2-2-2013
22394005@unknown@formal@none@1@S@A spokesman for Avis wouldn't specify the costs but said the three airlines being dropped account for "far less than half" of the total.@@@@1@24@@oe@2-2-2013
22394006@unknown@formal@none@1@S@Budget Rent a Car Corp., of Chicago, and National Car Rental Systems Inc., of Minneapolis, both said they had no plans to follow suit.@@@@1@24@@oe@2-2-2013
22394007@unknown@formal@none@1@S@In fact, Budget indicated it saw some benefit to staying involved in these programs, in which renters earn frequent-flier miles and fliers can get car-rental discounts.@@@@1@26@@oe@2-2-2013
22394008@unknown@formal@none@1@S@"I cannot see how this news by Hertz and Avis cannot benefit Budget's programs," said Bob Wilson, Budget's vice president, marketing planning.@@@@1@22@@oe@2-2-2013
22394009@unknown@formal@none@1@S@Northwest and Midway are two of the five airlines with which Budget has agreements.@@@@1@14@@oe@2-2-2013
22394010@unknown@formal@none@1@S@National also participates in the Northwest frequent-flier program along with four other airlines, including Delta and USAir Group Inc.'s USAir unit.@@@@1@21@@oe@2-2-2013
22394011@unknown@formal@none@1@S@A month ago, Hertz, of Park Ridge, N.J., said that it would drop its marketing agreements at year end with Delta, America West and Texas Air Corp.'s Continental Airlines and Eastern Airlines, and that pacts with American Airlines, UAL Inc's United Airlines and USAir also would be ended. . . sometime after Dec. 31.@@@@1@54@@oe@2-2-2013
22394012@unknown@formal@none@1@S@At the time, Hertz said its annual fees to those airlines amounted to $20 million and that the value of redeemed awards topped $15 million.@@@@1@25@@oe@2-2-2013
22394013@unknown@formal@none@1@S@Analysts and competitors, however, doubt the numbers were that high.@@@@1@10@@oe@2-2-2013
22394014@unknown@formal@none@1@S@Budget said its frequent-flier costs are "substantially below" Avis's level.@@@@1@10@@oe@2-2-2013
22394015@unknown@formal@none@1@S@Robert D. Cardillo, Avis vice president of marketing, said, "The proliferation and costs attached to {frequent-flier programs} have significantly diminished their value."@@@@1@22@@oe@2-2-2013
22394016@unknown@formal@none@1@S@This year has been difficult for both Hertz and Avis, said Charles Finnie, car-rental industry analyst at Alex. Brown & Sons.@@@@1@21@@oe@2-2-2013
22394017@unknown@formal@none@1@S@"They've been looking to get their costs down, and this is a fairly sensible way to do it," he said.@@@@1@20@@oe@2-2-2013
22395001@unknown@formal@none@1@S@CBS Inc. is cutting "The Pat Sajak Show" down to one hour from its current 90 minutes.@@@@1@17@@oe@2-2-2013
22395002@unknown@formal@none@1@S@CBS insisted the move wasn't a setback for the program, which is the network's first entry into the late-night talk show format since 1972.@@@@1@24@@oe@2-2-2013
22395003@unknown@formal@none@1@S@"I have every intention of making this the best possible show and having it run one hour is the best way to it," said Rod Perth, who was named vice president of late night entertainment in August.@@@@1@37@@oe@2-2-2013
22395004@unknown@formal@none@1@S@"This will raise the energy level of the show."@@@@1@9@@oe@2-2-2013
22395005@unknown@formal@none@1@S@CBS will continue to program action-adventure shows to follow the Sajak hour.@@@@1@12@@oe@2-2-2013
22395006@unknown@formal@none@1@S@But CBS News will extend its four-hour "Nightwatch" by 30 minutes and begin at 1:30 a.m.@@@@1@16@@oe@2-2-2013
22395007@unknown@formal@none@1@S@The show, despite a promising start, has slipped badly in the weekly ratings as compiled by A.C. Nielsen Co., finishing far below "Tonight" on NBC, a unit of General Electric Co., and "Nightline" on ABC-TV, a unit of Capital Cities/ABC Inc.@@@@1@41@@oe@2-2-2013
22395008@unknown@formal@none@1@S@Further fractioning the late-night audience is the addition of the "Arsenio Hall Show," syndicated by Paramount Communications Inc.@@@@1@18@@oe@2-2-2013
22396001@unknown@formal@none@1@S@Tandem Computers Inc., preparing to fight with International Business Machines Corp. for a piece of the mainframe business, said it expects to post higher revenue and earnings for its fiscal fourth quarter ended Sept. 30.@@@@1@35@@oe@2-2-2013
22396002@unknown@formal@none@1@S@Tandem said it expects to report revenue of about $450 million and earnings of 35 cents to 40 cents a share.@@@@1@21@@oe@2-2-2013
22396003@unknown@formal@none@1@S@The results, which are in line with analysts' estimates, reflect "a continued improvement in our U.S. business," said James Treybig, Tandem's chief executive officer.@@@@1@24@@oe@2-2-2013
22396004@unknown@formal@none@1@S@In the year-earlier period, Tandem reported net income of $30.1 million, or 31 cents a share, on revenue of $383.9 million.@@@@1@21@@oe@2-2-2013
22396005@unknown@formal@none@1@S@Tandem expects to report the full results for the quarter next week.@@@@1@12@@oe@2-2-2013
22396006@unknown@formal@none@1@S@Analysts have predicted that the Cupertino, Calif., company will report revenue of $430 million to $460 million and earnings of 35 cents to 40 cents a share.@@@@1@27@@oe@2-2-2013
22396007@unknown@formal@none@1@S@Commenting on the results for the quarter, Mr. Treybig said the strength of the company's domestic business came as "a surprise" to him, noting that sales "in every region of the U.S. exceeded our plan."@@@@1@35@@oe@2-2-2013
22396008@unknown@formal@none@1@S@The company's U.S. performance was helped by "a record quarter for new customers," he said.@@@@1@15@@oe@2-2-2013
22396009@unknown@formal@none@1@S@Tandem makes "fault-tolerant" computers -- machines with built-in backup systems -- that run stock exchanges, networks of automatic tellers and other complex computer systems.@@@@1@24@@oe@2-2-2013
22396010@unknown@formal@none@1@S@Tomorrow the company is scheduled to announce its most powerful computer ever, which for the first time will bring it into direct competition with makers of mainframe computers.@@@@1@28@@oe@2-2-2013
22396011@unknown@formal@none@1@S@Tandem's new high-end computer is called Cyclone.@@@@1@7@@oe@2-2-2013
22396012@unknown@formal@none@1@S@Prices for the machine, which can come in various configurations, are $2 million to $10 million.@@@@1@16@@oe@2-2-2013
22396013@unknown@formal@none@1@S@Analysts expect the new computer to wrest a hefty slice of business away from IBM, the longtime leader in mainframes.@@@@1@20@@oe@2-2-2013
22396014@unknown@formal@none@1@S@"We believe they could siphon perhaps two to three billion dollars from IBM" over the next few years, said George Weiss, an analyst at the Gartner group.@@@@1@27@@oe@2-2-2013
22396015@unknown@formal@none@1@S@That will spur Tandem's growth.@@@@1@5@@oe@2-2-2013
22396016@unknown@formal@none@1@S@"I'd be disappointed if the company grew by less than 20% next year," said John Levinson, an analyst at Goldman, Sachs & Co.@@@@1@23@@oe@2-2-2013
22396017@unknown@formal@none@1@S@IBM is expected to respond to Tandem's Cyclone by discounting its own mainframes, which analysts say are roughly three times the price of a comparable system from Tandem.@@@@1@28@@oe@2-2-2013
22396018@unknown@formal@none@1@S@"Obviously IBM can give bigger discounts to users immediately," said Mr. Weiss.@@@@1@12@@oe@2-2-2013
22396019@unknown@formal@none@1@S@But Mr. Treybig questions whether that will be enough to stop Tandem's first mainframe from taking on some of the functions that large organizations previously sought from Big Blue's machines.@@@@1@30@@oe@2-2-2013
22396020@unknown@formal@none@1@S@"The answer isn't price reductions, but new systems," he said.@@@@1@10@@oe@2-2-2013
22396021@unknown@formal@none@1@S@Nevertheless, Tandem faces a variety of challenges, the biggest being that customers generally view the company's computers as complementary to IBM's mainframes.@@@@1@22@@oe@2-2-2013
22396022@unknown@formal@none@1@S@Even Mr. Treybig is reluctant to abandon this notion, insisting that Tandem's new machines aren't replacements for IBM's mainframes.@@@@1@19@@oe@2-2-2013
22396023@unknown@formal@none@1@S@"We're after a little bigger niche," he said.@@@@1@8@@oe@2-2-2013
22397001@unknown@formal@none@1@S@Don't jump yet.@@@@1@3@@oe@2-2-2013
22397002@unknown@formal@none@1@S@The stock market's swoon may turn out to be good news for the economy.@@@@1@14@@oe@2-2-2013
22397003@unknown@formal@none@1@S@In one wild hour of trading, the market managed to accomplish what the Bush administration has been trying to do, unsuccessfully, for weeks.@@@@1@23@@oe@2-2-2013
22397004@unknown@formal@none@1@S@It is forcing the Federal Reserve to ease its grip on credit and it took the wind out of a previously irrepressible dollar.@@@@1@23@@oe@2-2-2013
22397005@unknown@formal@none@1@S@The resulting decline in interest rates and the value of the dollar could reinvigorate American business -- indeed, the entire economy.@@@@1@21@@oe@2-2-2013
22397006@unknown@formal@none@1@S@This may sound strangely optimistic.@@@@1@5@@oe@2-2-2013
22397007@unknown@formal@none@1@S@After all, until a few years ago, the stock market was viewed as a barometer of the national economy.@@@@1@19@@oe@2-2-2013
22397008@unknown@formal@none@1@S@When it went down, by all tradition, the economy followed.@@@@1@10@@oe@2-2-2013
22397009@unknown@formal@none@1@S@That has changed, partly because the two years following the worst stock-market plunge in history have been reasonably comfortable.@@@@1@19@@oe@2-2-2013
22397010@unknown@formal@none@1@S@The 1987 crash was "a false alarm however you view it," says University of Chicago economist Victor Zarnowitz.@@@@1@18@@oe@2-2-2013
22397011@unknown@formal@none@1@S@The market seems increasingly disconnected from the rest of the nation.@@@@1@11@@oe@2-2-2013
22397012@unknown@formal@none@1@S@Its spasms can't be traced to fundamental business conditions, nor do they appear to presage major shifts in the economy.@@@@1@20@@oe@2-2-2013
22397013@unknown@formal@none@1@S@"The market today has a life of its own," John Akers, chairman of International Business Machines Corp., said Saturday.@@@@1@19@@oe@2-2-2013
22397014@unknown@formal@none@1@S@"There's nothing rational about this kind of action."@@@@1@8@@oe@2-2-2013
22397015@unknown@formal@none@1@S@Of course, the health of the economy will be threatened if the market continues to dive this week.@@@@1@18@@oe@2-2-2013
22397016@unknown@formal@none@1@S@Sharply falling stock prices do reduce consumer wealth, damage business confidence and discourage the foreign investors upon whom the U.S. now relies for financial sustenance.@@@@1@25@@oe@2-2-2013
22397017@unknown@formal@none@1@S@The financial-services industry was battered by the 1987 crash.@@@@1@9@@oe@2-2-2013
22397018@unknown@formal@none@1@S@What's more, although the stock market is far less overvalued today than two years ago, the U.S. economy is weaker.@@@@1@20@@oe@2-2-2013
22397019@unknown@formal@none@1@S@Growth is slower.@@@@1@3@@oe@2-2-2013
22397020@unknown@formal@none@1@S@Profits are softer.@@@@1@3@@oe@2-2-2013
22397021@unknown@formal@none@1@S@Debt burdens are heavier.@@@@1@4@@oe@2-2-2013
22397022@unknown@formal@none@1@S@But if the stock market doesn't continue to plummet, the beneficial effects of lower interest rates and a lower dollar may well dominate.@@@@1@23@@oe@2-2-2013
22397023@unknown@formal@none@1@S@The Fed, which until Friday had been resisting moves to ease credit, is now poised to pour money into the economy if needed to soothe the markets.@@@@1@27@@oe@2-2-2013
22397024@unknown@formal@none@1@S@Fed officials may protest that this doesn't necessarily mean a fundamental change in their interest-rate policies.@@@@1@16@@oe@2-2-2013
22397025@unknown@formal@none@1@S@But the experience of the 1987 crash suggests the Fed is likely to bring down short-term interest rates in its effort to calm markets.@@@@1@24@@oe@2-2-2013
22397026@unknown@formal@none@1@S@Anticipating the Fed's move, money traders lowered a key interest rate known as the Federal Funds rate to 8.625% late Friday, down from 8.820% the day before.@@@@1@27@@oe@2-2-2013
22397027@unknown@formal@none@1@S@Tiny movements in the rate, which is what banks charge each other for overnight loans, are usually among the few visible tracks that the Fed leaves on the monetary markets.@@@@1@30@@oe@2-2-2013
22397028@unknown@formal@none@1@S@The dollar also began to decline Friday as the stock market's plunge caused some investors to reassess their desire to invest in the U.S.@@@@1@24@@oe@2-2-2013
22397029@unknown@formal@none@1@S@Treasury officials have been arguing for months that the dollar's strength was out of whack with economic fundamentals, threatening to extinguish the export boom that has sustained manufacturers for several years.@@@@1@31@@oe@2-2-2013
22397030@unknown@formal@none@1@S@The market drop has now apparently convinced foreign investors that the Treasury was right about the overpriced dollar.@@@@1@18@@oe@2-2-2013
22397031@unknown@formal@none@1@S@A modest drop in the dollar -- only a modest one, mind you -- would be welcomed by the U.S.@@@@1@20@@oe@2-2-2013
22397032@unknown@formal@none@1@S@That wasn't the case in 1987, when the dollar was so weak that some economists and government officials seriously worried that it might collapse, producing panic among foreign investors and diminishing the flow of foreign capital to the U.S.@@@@1@39@@oe@2-2-2013
22397033@unknown@formal@none@1@S@Another big difference between 1987 and 1989 isn't so comforting.@@@@1@10@@oe@2-2-2013
22397034@unknown@formal@none@1@S@In the third quarter of 1987, the economy spurted at an inflation-adjusted annual rate of 5.3%.@@@@1@16@@oe@2-2-2013
22397035@unknown@formal@none@1@S@The consensus among economists is that it grew a much more sluggish 2.3% in the third quarter of 1989, which ended two weeks ago.@@@@1@24@@oe@2-2-2013
22397036@unknown@formal@none@1@S@The plunge in stock prices "is happening at a time when the economy has already slowed down," says economist Lawrence Chimerine of WEFA Group, a Bala Cynwyd, Pa., forecasting company.@@@@1@30@@oe@2-2-2013
22397037@unknown@formal@none@1@S@"A lot of pent-up demand is gone."@@@@1@7@@oe@2-2-2013
22397038@unknown@formal@none@1@S@Consumer spending did drop in the months following Black Monday 1987 -- "but only slightly and for a short period of time," recalls Mr. Zarnowitz, a longtime student of business cycles.@@@@1@31@@oe@2-2-2013
22397039@unknown@formal@none@1@S@"That was offset by strength elsewhere.@@@@1@6@@oe@2-2-2013
22397040@unknown@formal@none@1@S@{The effects} were much less severe and less prolonged than some had feared or expected.@@@@1@15@@oe@2-2-2013
22397041@unknown@formal@none@1@S@" Today, he frets, exports and business investment spending may be insufficient to pick up the slack if stock prices sink this week and if consumers retrench in reaction.@@@@1@29@@oe@2-2-2013
22397042@unknown@formal@none@1@S@What's more, the corporate borrowing binge hasn't abated in the past two years.@@@@1@13@@oe@2-2-2013
22397043@unknown@formal@none@1@S@"We've had two more years of significant accumulation of debt . . . just at the time when earnings are being squeezed," Mr. Chimerine notes.@@@@1@25@@oe@2-2-2013
22397044@unknown@formal@none@1@S@The more a company relies on borrowed money, the greater its sensitivity to an economic slowdown.@@@@1@16@@oe@2-2-2013
22397045@unknown@formal@none@1@S@A company with a strong balance sheet can withstand an unanticipated storm; a highly leveraged company may end up in bankruptcy court.@@@@1@22@@oe@2-2-2013
22397046@unknown@formal@none@1@S@The Fed, of course, knows that very well -- hence its readiness to pump credit into the economy this morning.@@@@1@20@@oe@2-2-2013
22397047@unknown@formal@none@1@S@But, in the process, the Fed risks reigniting inflation.@@@@1@9@@oe@2-2-2013
22397048@unknown@formal@none@1@S@Even before Friday's events, Harvard University economist Benjamin Friedman was arguing that the Fed won't be able to live up to its tough words on eliminating inflation because of its responsibility to protect fragile financial markets, banks and highly leveraged corporations.@@@@1@41@@oe@2-2-2013
22397049@unknown@formal@none@1@S@The biggest threat on the economic horizon right now isn't recession, he reasons; it's an outbreak of uncontrolled inflation.@@@@1@19@@oe@2-2-2013
22397050@unknown@formal@none@1@S@In the end, the 1987 collapse suggested, the economy doesn't move in lockstep with stock prices.@@@@1@16@@oe@2-2-2013
22397051@unknown@formal@none@1@S@The economy does, however, depend on the confidence of businesses, consumers and foreign investors.@@@@1@14@@oe@2-2-2013
22397052@unknown@formal@none@1@S@A panic on Wall Street doesn't exactly inspire confidence.@@@@1@9@@oe@2-2-2013
22397053@unknown@formal@none@1@S@Surveys suggested that consumer confidence was high before Friday.@@@@1@9@@oe@2-2-2013
22397054@unknown@formal@none@1@S@A 190-point drop isn't likely to make much of a dent; multiply that a few times over, though, and it will.@@@@1@21@@oe@2-2-2013
22397055@unknown@formal@none@1@S@If the reactions of executives gathered Saturday at Hot Springs, Va., for the Business Council meetings are typical, business leaders weren't overly rattled by Friday's decline.@@@@1@26@@oe@2-2-2013
22397056@unknown@formal@none@1@S@And if foreign investors become a tad more cautious -- well, the dollar's recent strength suggests that the U.S. can stand it.@@@@1@22@@oe@2-2-2013
22397057@unknown@formal@none@1@S@On the bottom line, the most comforting fact for the economic outlook is that we've been through this before.@@@@1@19@@oe@2-2-2013
22397058@unknown@formal@none@1@S@Two years ago, about the only point of comparison was the 1929 crash and the subsequent Depression.@@@@1@17@@oe@2-2-2013
22397059@unknown@formal@none@1@S@The doomsayers had a receptive audience.@@@@1@6@@oe@2-2-2013
22397060@unknown@formal@none@1@S@The prosperity that followed Black Monday permits a more optimistic view today.@@@@1@12@@oe@2-2-2013
22397061@unknown@formal@none@1@S@At the very least, the establishment here is taking comfort from the nation's success in handling the last go-around.@@@@1@19@@oe@2-2-2013
22397062@unknown@formal@none@1@S@As Sen. Lloyd Bentsen (D., Texas) observed yesterday, "The Fed avoided a meltdown last time.@@@@1@15@@oe@2-2-2013
22397063@unknown@formal@none@1@S@They are more sophisticated this time.@@@@1@6@@oe@2-2-2013
22398001@unknown@formal@none@1@S@The chemical industry is expected to report that profits eroded in the third quarter because of skidding prices in the commodity end of the business.@@@@1@25@@oe@2-2-2013
22398002@unknown@formal@none@1@S@Producers of commodity chemicals, the basic chemicals produced in huge volumes for other manufacturers, have seen sharp inventory cutting by buyers.@@@@1@21@@oe@2-2-2013
22398003@unknown@formal@none@1@S@Once the chief beneficiaries of the industry's now fading boom, these producers also will be reporting against exceptionally strong performances in the 1988 third quarter.@@@@1@25@@oe@2-2-2013
22398004@unknown@formal@none@1@S@"For some of these companies, this will be the first quarter with year-to-year negative comparisons," says Leonard Bogner, a chemical industry analyst at Prudential Bache Research.@@@@1@26@@oe@2-2-2013
22398005@unknown@formal@none@1@S@"This could be the first of five or six down quarters."@@@@1@11@@oe@2-2-2013
22398006@unknown@formal@none@1@S@Perhaps most prominent, Dow Chemical Co., which as of midyear had racked up eight consecutive record quarters, is expected to report that profit decreased in the latest quarter from a year earlier, if only by a shade.@@@@1@37@@oe@2-2-2013
22398007@unknown@formal@none@1@S@Though Dow has aggressively diversified into specialty chemicals and pharmaceuticals, the company still has a big stake in polyethylene, which is used in packaging and housewares.@@@@1@26@@oe@2-2-2013
22398008@unknown@formal@none@1@S@Analysts' third-quarter estimates for the Midland, Mich., company are between $3.20 a share and $3.30 a share, compared with $3.36 a year ago, when profit was $632 million on sales of $4.15 billion.@@@@1@33@@oe@2-2-2013
22398009@unknown@formal@none@1@S@A Dow spokeswoman declined to comment on the estimates.@@@@1@9@@oe@2-2-2013
22398010@unknown@formal@none@1@S@At the investment firm of Smith Barney, Harris Upham & Co., the commodity-chemical segment is seen pulling down overall profit for 20 companies representative of the whole industry by 8% to 10%.@@@@1@32@@oe@2-2-2013
22398011@unknown@formal@none@1@S@"You will find the commodities off more than the others and the diversified companies about even or slightly better," says James Wilbur, a Smith Barney analyst.@@@@1@26@@oe@2-2-2013
22398012@unknown@formal@none@1@S@First Boston Corp. projects that 10 of the 15 companies it follows will report lower profit.@@@@1@16@@oe@2-2-2013
22398013@unknown@formal@none@1@S@Most of the 10 have big commodity-chemical operations.@@@@1@8@@oe@2-2-2013
22398014@unknown@formal@none@1@S@Still, some industry giants are expected to report continuing gains, largely because so much of their business is outside commodity chemicals.@@@@1@21@@oe@2-2-2013
22398015@unknown@formal@none@1@S@Du Pont Co. is thought to have had steady profit growth in white pigments, fibers and polymers.@@@@1@17@@oe@2-2-2013
22398016@unknown@formal@none@1@S@Moreover, the Wilmington, Del., company is helped when prices weaken on the commodity chemicals it buys for its own production needs, such as ethylene.@@@@1@24@@oe@2-2-2013
22398017@unknown@formal@none@1@S@Analysts are divided over whether Du Pont will report much of a gain in the latest quarter from its Conoco Inc. oil company.@@@@1@23@@oe@2-2-2013
22398018@unknown@formal@none@1@S@The estimates for Du Pont range from $2.25 to $2.45 a share.@@@@1@12@@oe@2-2-2013
22398019@unknown@formal@none@1@S@In the 1988 third quarter, the company earned $461 million, or $1.91 a share, on sales of $7.99 billion.@@@@1@19@@oe@2-2-2013
22398020@unknown@formal@none@1@S@Du Pont declined to comment.@@@@1@5@@oe@2-2-2013
22398021@unknown@formal@none@1@S@Monsanto Co., too, is expected to continue reporting higher profit, even though its sales of crop chemicals were hurt in the latest quarter by drought in northern Europe and the western U.S.@@@@1@32@@oe@2-2-2013
22398022@unknown@formal@none@1@S@The St. Louis-based company is expected to report again that losses in its G.D. Searle & Co. pharmaceutical business are narrowing.@@@@1@21@@oe@2-2-2013
22398023@unknown@formal@none@1@S@Searle continued to operate in the red through the first half of the year, but Monsanto has said it expects Searle to post a profit for all of 1989.@@@@1@29@@oe@2-2-2013
22398024@unknown@formal@none@1@S@Most estimates for Monsanto run between $1.70 and $2 a share.@@@@1@11@@oe@2-2-2013
22398025@unknown@formal@none@1@S@A year ago, the company posted third-quarter profit of $116 million, or $1.67 a share, on sales of $2.02 billion.@@@@1@20@@oe@2-2-2013
22398026@unknown@formal@none@1@S@Monsanto declined to comment.@@@@1@4@@oe@2-2-2013
22398027@unknown@formal@none@1@S@But the commodity-chemical producers are caught on the downside of a pricing cycle.@@@@1@13@@oe@2-2-2013
22398028@unknown@formal@none@1@S@By some accounts on Wall Street and in the industry, the inventory reductions are near an end, which may presage firmer demand.@@@@1@22@@oe@2-2-2013
22398029@unknown@formal@none@1@S@But doubters say growing production capacity could keep pressure on prices into the early 1990s.@@@@1@15@@oe@2-2-2013
22398030@unknown@formal@none@1@S@In the latest quarter, at least, profit is expected to fall sharply.@@@@1@12@@oe@2-2-2013
22398031@unknown@formal@none@1@S@For Himont Inc., "how far down it is, we don't know," says Leslie Ravitz at Salomon Brothers.@@@@1@17@@oe@2-2-2013
22398032@unknown@formal@none@1@S@The projections are in the neighborhood of 50 cents a share to 75 cents, compared with a restated $1.65 a share a year earlier, when profit was $107.8 million on sales of $435.5 million.@@@@1@34@@oe@2-2-2013
22398033@unknown@formal@none@1@S@Himont faces lower prices for its mainstay product, polypropylene, while it goes forward with a heavy capital investment program to bolster its raw material supply and develop new uses for polypropylene, whose markets include the packaging and automobile industries.@@@@1@39@@oe@2-2-2013
22398034@unknown@formal@none@1@S@The company, based in Wilmington, Del., is 81%-owned by Montedison S.p.A., Milan, which has an offer outstanding for the Himont shares it doesn't already own.@@@@1@25@@oe@2-2-2013
22398035@unknown@formal@none@1@S@At Quantum Chemical Corp., New York, the trouble is lower prices for polyethylene, higher debt costs and the idling of an important plant due to an explosion.@@@@1@27@@oe@2-2-2013
22398036@unknown@formal@none@1@S@Some analysts hedge their estimates for Quantum, because it isn't known when the company will book certain one-time charges.@@@@1@19@@oe@2-2-2013
22398037@unknown@formal@none@1@S@But the estimates range from break-even to 35 cents a share.@@@@1@11@@oe@2-2-2013
22398038@unknown@formal@none@1@S@In the 1988 third quarter, Quantum earned $99.8 million, or $3.92 a share, on sales of $724.4 million.@@@@1@18@@oe@2-2-2013
22398039@unknown@formal@none@1@S@Another big polyethylene producer, Union Carbide Corp., is expected to post profit of between $1 a share and $1.25, compared with $1.56 a share a year earlier, when the company earned $213 million on sales of $2.11 billion.@@@@1@38@@oe@2-2-2013
22398040@unknown@formal@none@1@S@Himont, Quantum and Union Carbide all declined to comment.@@@@1@9@@oe@2-2-2013
22399001@unknown@formal@none@1@S@The following were among Friday's offerings and pricings in the U.S. and non-U.S. capital markets, with terms and syndicate manager, as compiled by Dow Jones Capital Markets Report:@@@@1@28@@oe@2-2-2013
22399002@unknown@formal@none@1@S@Dow Chemical Co. --@@@@1@4@@oe@2-2-2013
22399003@unknown@formal@none@1@S@$150 million of 8.55% senior notes due Oct. 15, 2009, priced at par.@@@@1@13@@oe@2-2-2013
22399004@unknown@formal@none@1@S@The issue, which is puttable back to the company at par on Oct. 15, 1999, was priced at a spread of 50 basis points above the Treasury's 10-year note.@@@@1@29@@oe@2-2-2013
22399005@unknown@formal@none@1@S@Rated single-A-1 by Moody's Investors Service Inc. and single-A by Standard & Poor's Corp., the non-callable issue will be sold through underwriters led by Merrill Lynch Capital Markets.@@@@1@28@@oe@2-2-2013
22399006@unknown@formal@none@1@S@Centel Capital Corp. --@@@@1@4@@oe@2-2-2013
22399007@unknown@formal@none@1@S@$150 million of 9% debentures due Oct. 15, 2019, priced at 99.943 to yield 9.008%.@@@@1@15@@oe@2-2-2013
22399008@unknown@formal@none@1@S@The non-callable issue, which can be put back to the company in 1999, was priced at 99 basis points above the Treasury's 10-year note.@@@@1@24@@oe@2-2-2013
22399009@unknown@formal@none@1@S@Rated Baa-1 by Moody's and triple-B-plus by S&P, the issue will be sold through underwriters led by Morgan Stanley & Co.@@@@1@21@@oe@2-2-2013
22399010@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. --@@@@1@6@@oe@2-2-2013
22399011@unknown@formal@none@1@S@$500 million of Remic mortgage securities offered in 13 classes by Prudential-Bache Securities Inc.@@@@1@14@@oe@2-2-2013
22399012@unknown@formal@none@1@S@The offering, Series 102, backed by Freddie Mac 8 1/2% securities with a weighted average remaining term to maturity of 28.4 years, was priced before the market's afternoon surge.@@@@1@29@@oe@2-2-2013
22399013@unknown@formal@none@1@S@Among classes for which details were available, yields ranged from 8.78%, or 75 basis points over two-year Treasury securities, to 10.05%, or 200 basis points over 10-year Treasurys.@@@@1@28@@oe@2-2-2013
22399014@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. --@@@@1@6@@oe@2-2-2013
22399015@unknown@formal@none@1@S@$300 million of Remic mortgage securities offered by Citicorp Securities Markets Inc.@@@@1@12@@oe@2-2-2013
22399016@unknown@formal@none@1@S@The offering, Series 101, is backed by Freddie Mac 9 1/2% securities.@@@@1@12@@oe@2-2-2013
22399017@unknown@formal@none@1@S@Pricing details weren't immediately available.@@@@1@5@@oe@2-2-2013
22399018@unknown@formal@none@1@S@Federal Home Loan Mortgage Corp. --@@@@1@6@@oe@2-2-2013
22399019@unknown@formal@none@1@S@$200 million of stripped mortgage securities underwritten by BT Securities Corp.@@@@1@11@@oe@2-2-2013
22399020@unknown@formal@none@1@S@The agency's first strips issue, collateralized by Freddie Mac 8% securities pooled into a single security called a Giant, will be divided into interest-only and principal-only securities.@@@@1@27@@oe@2-2-2013
22399021@unknown@formal@none@1@S@The collateral is being sold by a thrift institution.@@@@1@9@@oe@2-2-2013
22399022@unknown@formal@none@1@S@The principal-only securities will be repackaged by BT Securities into a Freddie Mac Remic, Series 103, that will have six classes.@@@@1@21@@oe@2-2-2013
22399023@unknown@formal@none@1@S@The interest-only securities will be sold separately by BT Securities.@@@@1@10@@oe@2-2-2013
22399024@unknown@formal@none@1@S@The principal-only securities pay the principal from the underlying Freddie Mac 8% securities, while the interest-only securities pay only interest.@@@@1@20@@oe@2-2-2013
22399025@unknown@formal@none@1@S@Freddie Mac said the principal-only securities were priced at 58 1/4 to yield 8.45%, assuming an average life of eight years and a prepayment of 160% of the PSA model.@@@@1@30@@oe@2-2-2013
22399026@unknown@formal@none@1@S@The interest-only securities were priced at 35 1/2 to yield 10.72%.@@@@1@11@@oe@2-2-2013
22399027@unknown@formal@none@1@S@There were no major Eurobond or foreign bond offerings in Europe Friday.@@@@1@12@@oe@2-2-2013
22400001@unknown@formal@none@1@S@The economy's temperature will be taken from several vantage points this week, with readings on trade, output, housing and inflation.@@@@1@20@@oe@2-2-2013
22400002@unknown@formal@none@1@S@The most troublesome report may be the August merchandise trade deficit due out tomorrow.@@@@1@14@@oe@2-2-2013
22400003@unknown@formal@none@1@S@The trade gap is expected to widen to about $9 billion from July's $7.6 billion, according to a survey by MMS International, a unit of McGraw-Hill Inc., New York.@@@@1@29@@oe@2-2-2013
22400004@unknown@formal@none@1@S@Thursday's report on the September consumer price index is expected to rise, although not as sharply as the 0.9% gain reported Friday in the producer price index.@@@@1@27@@oe@2-2-2013
22400005@unknown@formal@none@1@S@That gain was being cited as a reason the stock market was down early in Friday's session, before it got started on its reckless 190-point plunge.@@@@1@26@@oe@2-2-2013
22400006@unknown@formal@none@1@S@Economists are divided as to how much manufacturing strength they expect to see in September reports on industrial production and capacity utilization, also due tomorrow.@@@@1@25@@oe@2-2-2013
22400007@unknown@formal@none@1@S@Meanwhile, September housing starts, due Wednesday, are thought to have inched upward.@@@@1@12@@oe@2-2-2013
22400008@unknown@formal@none@1@S@"There's a possibility of a surprise" in the trade report, said Michael Englund, director of research at MMS.@@@@1@18@@oe@2-2-2013
22400009@unknown@formal@none@1@S@A widening of the deficit, if it were combined with a stubbornly strong dollar, would exacerbate trade problems -- but the dollar weakened Friday as stocks plummeted.@@@@1@27@@oe@2-2-2013
22400010@unknown@formal@none@1@S@In any event, Mr. Englund and many others say that the easy gains in narrowing the trade gap have already been made.@@@@1@22@@oe@2-2-2013
22400011@unknown@formal@none@1@S@"Trade is definitely going to be more politically sensitive over the next six or seven months as improvement begins to slow," he said.@@@@1@23@@oe@2-2-2013
22400012@unknown@formal@none@1@S@Exports are thought to have risen strongly in August, but probably not enough to offset the jump in imports, economists said.@@@@1@21@@oe@2-2-2013
22400013@unknown@formal@none@1@S@Views on manufacturing strength are split between economists who read September's low level of factory job growth as a sign of a slowdown and those who use the somewhat more comforting total employment figures in their calculations.@@@@1@37@@oe@2-2-2013
22400014@unknown@formal@none@1@S@The wide range of estimates for the industrial output number underscores the differences: The forecasts run from a drop of 0.5% to an increase of 0.4%, according to MMS.@@@@1@29@@oe@2-2-2013
22400015@unknown@formal@none@1@S@A rebound in energy prices, which helped push up the producer price index, is expected to do the same in the consumer price report.@@@@1@24@@oe@2-2-2013
22400016@unknown@formal@none@1@S@The consensus view expects a 0.4% increase in the September CPI after a flat reading in August.@@@@1@17@@oe@2-2-2013
22400017@unknown@formal@none@1@S@Robert H. Chandross, an economist for Lloyd's Bank in New York, is among those expecting a more moderate gain in the CPI than in prices at the producer level.@@@@1@29@@oe@2-2-2013
22400018@unknown@formal@none@1@S@"Auto prices had a big effect in the PPI, and at the CPI level they won't," he said.@@@@1@18@@oe@2-2-2013
22400019@unknown@formal@none@1@S@Food prices are expected to be unchanged, but energy costs jumped as much as 4%, said Gary Ciminero, economist at Fleet/Norstar Financial Group.@@@@1@23@@oe@2-2-2013
22400020@unknown@formal@none@1@S@He also says he thinks "core inflation," which excludes the volatile food and energy prices, was strong last month.@@@@1@19@@oe@2-2-2013
22400021@unknown@formal@none@1@S@He expects a gain of as much as 0.5% in core inflation after a summer of far smaller increases.@@@@1@19@@oe@2-2-2013
22400022@unknown@formal@none@1@S@Housing starts are expected to quicken a bit from August's annual pace of 1,350,000 units.@@@@1@15@@oe@2-2-2013
22400023@unknown@formal@none@1@S@Economists say an August rebound in permits for multifamily units signaled an increase in September starts, though activity remains fairly modest by historical standards.@@@@1@24@@oe@2-2-2013
22401001@unknown@formal@none@1@S@Two-Way Street@@@@1@2@@oe@2-2-2013
22401002@unknown@formal@none@1@S@If the sixty-day plant-closing law's fair, Why should we not then amend the writ To require that all employees give Similar notice before they quit?@@@@1@25@@oe@2-2-2013
22401003@unknown@formal@none@1@S@-- Rollin S. Trexler.@@@@1@4@@oe@2-2-2013
22401004@unknown@formal@none@1@S@Candid Comment@@@@1@2@@oe@2-2-2013
22401005@unknown@formal@none@1@S@When research projects are curtailed due to government funding cuts, are we "caught with our grants down"?@@@@1@17@@oe@2-2-2013
22401006@unknown@formal@none@1@S@-- C.E. Friedman.@@@@1@3@@oe@2-2-2013
22402001@unknown@formal@none@1@S@Assuming the stock market doesn't crash again and completely discredit yuppies and trading rooms, American television audiences in a few months may be seeing Britain's concept of both.@@@@1@28@@oe@2-2-2013
22402002@unknown@formal@none@1@S@"Capital City" is a weekly series that premiered here three weeks ago amid unprecedented hype by its producer, Thames Television.@@@@1@20@@oe@2-2-2013
22402003@unknown@formal@none@1@S@The early episodes make you long for a rerun of the crash of 1987.@@@@1@14@@oe@2-2-2013
22402004@unknown@formal@none@1@S@Let's make that 1929, just to be sure.@@@@1@8@@oe@2-2-2013
22402005@unknown@formal@none@1@S@According to the program's publicity prospectus, "Capital City," set at Shane Longman, a fictional mid-sized securities firm with #500 million capital, "follows the fortunes of a close-knit team of young, high-flying dealers, hired for their particular blend of style, genius and energy.@@@@1@42@@oe@2-2-2013
22402006@unknown@formal@none@1@S@But with all the money and glamour of high finance come the relentless pressures to do well; pressure to pull off another million before lunch; pressure to anticipate the market by a fraction of a second . . ."@@@@1@39@@oe@2-2-2013
22402007@unknown@formal@none@1@S@You needn't be a high-powered securities lawyer to realize the prospectus is guilty of less than full disclosure.@@@@1@18@@oe@2-2-2013
22402008@unknown@formal@none@1@S@The slickly produced series has been criticized by London's financial cognoscenti as inaccurate in detail, but its major weakness is its unrealistic depiction of the characters' professional and private lives.@@@@1@30@@oe@2-2-2013
22402009@unknown@formal@none@1@S@Turned loose in Shane Longman's trading room, the yuppie dealers do little right.@@@@1@13@@oe@2-2-2013
22402010@unknown@formal@none@1@S@Judging by the money lost and mistakes made in the early episodes, Shane Longman's capital should be just about exhausted by the final 13th week.@@@@1@25@@oe@2-2-2013
22402011@unknown@formal@none@1@S@In the opening episode we learn that Michelle, a junior bond trader, has indeed pulled off another million before lunch.@@@@1@20@@oe@2-2-2013
22402012@unknown@formal@none@1@S@Trouble is, she has lost it just as quickly.@@@@1@9@@oe@2-2-2013
22402013@unknown@formal@none@1@S@Rather than keep the loss a secret from the outside world, Michelle blabs about it to a sandwich man while ordering lunch over the phone.@@@@1@25@@oe@2-2-2013
22402014@unknown@formal@none@1@S@Little chance that Shane Longman is going to recoup today.@@@@1@10@@oe@2-2-2013
22402015@unknown@formal@none@1@S@Traders spend the morning frantically selling bonds, in the belief that the U.S. monthly trade figures will look lousy.@@@@1@19@@oe@2-2-2013
22402016@unknown@formal@none@1@S@Ah, perfidious Columbia!@@@@1@3@@oe@2-2-2013
22402017@unknown@formal@none@1@S@The trade figures turn out well, and all those recently unloaded bonds spurt in price.@@@@1@15@@oe@2-2-2013
22402018@unknown@formal@none@1@S@So much for anticipating the market by a fraction of a second.@@@@1@12@@oe@2-2-2013
22402019@unknown@formal@none@1@S@And a large slice of the first episode is devoted to efforts to get rid of some nearly worthless Japanese bonds (since when is anything Japanese nearly worthless nowadays?).@@@@1@29@@oe@2-2-2013
22402020@unknown@formal@none@1@S@Surprisingly, Shane Longman survives the week, only to have a senior executive innocently bumble his way into becoming the target of a criminal insider trading investigation.@@@@1@26@@oe@2-2-2013
22402021@unknown@formal@none@1@S@Instead of closing ranks to protect the firm's reputation, the executive's internal rivals, led by a loutish American, demand his resignation.@@@@1@21@@oe@2-2-2013
22402022@unknown@formal@none@1@S@The plot is thwarted when the firm's major stockholder, kelp farming on the other side of the globe, hurries home to support the executive.@@@@1@24@@oe@2-2-2013
22402023@unknown@formal@none@1@S@But the investigation continues.@@@@1@4@@oe@2-2-2013
22402024@unknown@formal@none@1@S@If you can swallow the premise that the rewards for such ineptitude are six-figure salaries, you still are left puzzled, because few of the yuppies consume very conspicuously.@@@@1@28@@oe@2-2-2013
22402025@unknown@formal@none@1@S@In fact, few consume much of anything.@@@@1@7@@oe@2-2-2013
22402026@unknown@formal@none@1@S@Two share a house almost devoid of furniture.@@@@1@8@@oe@2-2-2013
22402027@unknown@formal@none@1@S@Michelle lives in a hotel room, and although she drives a canary-colored Porsche, she hasn't time to clean or repair it; the beat-up vehicle can be started only with a huge pair of pliers because the ignition key has broken off in the lock.@@@@1@44@@oe@2-2-2013
22402028@unknown@formal@none@1@S@And it takes Declan, the obligatory ladies' man of the cast, until the third episode to get past first base with any of his prey.@@@@1@25@@oe@2-2-2013
22402029@unknown@formal@none@1@S@Perhaps the explanation for these anomalies is that class-conscious Britain isn't ready to come to terms with the wealth created by the Thatcherian free-enterprise regime.@@@@1@25@@oe@2-2-2013
22402030@unknown@formal@none@1@S@After all, this isn't old money, but new money, and in many cases, young money.@@@@1@15@@oe@2-2-2013
22402031@unknown@formal@none@1@S@This attitude is clearly illustrated in the treatment of Max, the trading room's most flamboyant character.@@@@1@16@@oe@2-2-2013
22402032@unknown@formal@none@1@S@Yuppily enough, he lives in a lavishly furnished converted church, wears designer clothes and drives an antique car.@@@@1@18@@oe@2-2-2013
22402033@unknown@formal@none@1@S@But apparently to make him palatable, even lovable, to the masses, the script inflates pony-tailed Max into an eccentric genius, master of 11 Chinese dialects.@@@@1@25@@oe@2-2-2013
22402034@unknown@formal@none@1@S@He takes his wash to the laundromat, where he meets a punky French girl who dupes him into providing a home for her pet piranha and then promptly steals his car and dumps it in Dieppe.@@@@1@36@@oe@2-2-2013
22402035@unknown@formal@none@1@S@In producing and promoting "Capital City," Thames has spent about as much as Shane Longman loses on a good day.@@@@1@20@@oe@2-2-2013
22402036@unknown@formal@none@1@S@The production costs are a not inconsiderable #8 million ($12.4 million), and would have been much higher had not the cost of the trading floor set been absorbed in the budget of "Dealers," an earlier made-for-TV movie.@@@@1@37@@oe@2-2-2013
22402037@unknown@formal@none@1@S@Another half million quid went for a volley of full-page advertisements in six major British newspapers and for huge posters in the London subway.@@@@1@24@@oe@2-2-2013
22402038@unknown@formal@none@1@S@These expenses create a special incentive for "Capital City's" producers to flog it, or a Yank-oriented version of it, in America.@@@@1@21@@oe@2-2-2013
22402039@unknown@formal@none@1@S@Thames's U.S. marketing agent, Donald Taffner, is preparing to do just that.@@@@1@12@@oe@2-2-2013
22402040@unknown@formal@none@1@S@He is discreetly hopeful, citing three U.S. comedy series -- "Three's Company," "Too Close for Comfort" and "Check It Out" -- that had British antecedents.@@@@1@25@@oe@2-2-2013
22402041@unknown@formal@none@1@S@Perhaps without realizing it, Mr. Taffner simultaneously has put his finger on the problem and an ideal solution: "Capital City" should have been a comedy, a worthy sequel to the screwball British "Carry On" movies of the 1960s.@@@@1@38@@oe@2-2-2013
22402042@unknown@formal@none@1@S@The seeds already are in the script.@@@@1@7@@oe@2-2-2013
22402043@unknown@formal@none@1@S@The first episode concluded with a marvelously cute scene in which the trading-room crew minded a baby, the casualty of a broken marriage at the firm.@@@@1@26@@oe@2-2-2013
22402044@unknown@formal@none@1@S@And many in the young cast bear striking resemblances to American TV and movie personalities known for light roles.@@@@1@19@@oe@2-2-2013
22402045@unknown@formal@none@1@S@Joanna Kanska looks like a young Zsa Zsa Gabor; William Armstrong, who plays Max, could pass for Hans Conreid, and Douglas Hodge (Declan) for James Farentino; Rolf Saxon is a passable Tommy Noonan and Dorian Healy could easily double for Huntz Hall, the blank-faced foil of the Bowery Boys comedies.@@@@1@50@@oe@2-2-2013
22402046@unknown@formal@none@1@S@So, OK kids, everybody on stage for "Carry On Trading": The cast is frantically searching the office for misplaced Japanese bonds that suddenly have soared in value because Dai-Ichi Kangyo Bank has just bought the White House.@@@@1@37@@oe@2-2-2013
22402047@unknown@formal@none@1@S@The pressure is too much for Zsa Zsa, who slaps a security guard.@@@@1@13@@oe@2-2-2013
22402048@unknown@formal@none@1@S@He backflips into a desktop computer terminal, which explodes, covering Huntz Hall's face with microchips.@@@@1@15@@oe@2-2-2013
22402049@unknown@formal@none@1@S@And all the while, the bonds are in the baby's diaper.@@@@1@11@@oe@2-2-2013
22402050@unknown@formal@none@1@S@It should run forever.@@@@1@4@@oe@2-2-2013
22402051@unknown@formal@none@1@S@Mr. Rustin is senior correspondent in the Journal's London bureau.@@@@1@10@@oe@2-2-2013
22403001@unknown@formal@none@1@S@Axa-Midi Assurances of France gave details of its financing plans for its proposed $4.5 billion acquisition of Farmers Group Inc., in amended filings with insurance regulators in the nine U.S. states where Farmers operates.@@@@1@34@@oe@2-2-2013
22403002@unknown@formal@none@1@S@The proposed acquisition is part of Sir James Goldsmith's unfriendly takeover attempt for B.A.T Industries PLC, the British tobacco, retailing, paper and financial services concern that is parent of Los Angeles-based Farmers.@@@@1@32@@oe@2-2-2013
22403003@unknown@formal@none@1@S@In an attempt to appease U.S. regulators' concern over a Goldsmith acquisition of Farmers, Sir James in August agreed to sell Farmers to Axa if he is successful in acquiring B.A.T.@@@@1@31@@oe@2-2-2013
22403004@unknown@formal@none@1@S@As part of the agreement, Axa agreed to invest $1 billion in Hoylake Investments Ltd., Sir James's acquisition vehicle.@@@@1@19@@oe@2-2-2013
22403005@unknown@formal@none@1@S@Of the total $5.5 billion to be paid to Hoylake by Axa, about $1 billion will come from available resources of Axa's parent, Axa-Midi Group, $2.25 billion will be in the form of notes issued by Axa, and the remaining $2.25 billion will be in long-term bank loans.@@@@1@48@@oe@2-2-2013
22403006@unknown@formal@none@1@S@In an interview Thursday, Claude Bebear, chairman and chief executive officer of Axa, said his group has already obtained assurances from a group of banks led by Cie. Financiere de Paribas that they can provide the loan portion of the financing.@@@@1@41@@oe@2-2-2013
22403007@unknown@formal@none@1@S@The other banking companies in the group are Credit Lyonnais, Societe Generale, BankAmerica Corp. and Citicorp, he said.@@@@1@18@@oe@2-2-2013
22403008@unknown@formal@none@1@S@Mr. Bebear said Axa-Midi Group has "more than $2.5 billion of non-strategic assets that we can and will sell" to help pay off debt from the acquisition.@@@@1@27@@oe@2-2-2013
22403009@unknown@formal@none@1@S@He said the assets to be sold would be "non-insurance" assets, including a beer company and a real estate firm, and wouldn't include any pieces of Farmers.@@@@1@27@@oe@2-2-2013
22403010@unknown@formal@none@1@S@"We won't put any burden on Farmers," he said.@@@@1@9@@oe@2-2-2013
22403011@unknown@formal@none@1@S@The amended filings also point out that under a new agreement, Hoylake has an absolute obligation to sell Farmers to Axa upon an acquisition of B.A.T.@@@@1@26@@oe@2-2-2013
22403012@unknown@formal@none@1@S@"We hope that with what we did, the regulators will not need to evaluate Hoylake, and they can directly look at the agreement with us, because Hoylake won't be an owner of Farmers at anytime," Mr. Bebear said.@@@@1@38@@oe@2-2-2013
22403013@unknown@formal@none@1@S@Any change of control in Farmers needs approval of the insurance commissioners in the nine states where Farmers and its related companies are incorporated.@@@@1@24@@oe@2-2-2013
22403014@unknown@formal@none@1@S@The amended filings were required because of the new agreement between Axa and Hoylake, and to reflect the extension that Sir James received last month under British takeover rules to complete his proposed acquisition.@@@@1@34@@oe@2-2-2013
22403015@unknown@formal@none@1@S@Hoylake dropped its initial #13.35 billion ($20.71 billion) takeover bid after it received the extension, but said it would launch a new bid if and when the propsed sale of Farmers to Axa receives regulatory approval.@@@@1@36@@oe@2-2-2013
22403016@unknown@formal@none@1@S@A spokesman for B.A.T said of the amended filings that, "It would appear that nothing substantive has changed.@@@@1@18@@oe@2-2-2013
22403017@unknown@formal@none@1@S@The new financing structure is still a very-highly leveraged one, and Axa still plans to take out 75% of Farmers' earnings as dividends to service their debt."@@@@1@27@@oe@2-2-2013
22403018@unknown@formal@none@1@S@That dividend is almost double the 35% currently taken out of Farmers by B.A.T, the spokesman added.@@@@1@17@@oe@2-2-2013
22403019@unknown@formal@none@1@S@"It would have severe implications for Farmers' policy holders."@@@@1@9@@oe@2-2-2013
22403020@unknown@formal@none@1@S@To fend off Sir James's advances, B.A.T has proposed a sweeping restructuring that would pare it to a tobacco and financial services concern.@@@@1@23@@oe@2-2-2013
22404001@unknown@formal@none@1@S@Dismal sales at General Motors Corp. dragged the U.S. car and truck market down below year-ago levels in early October, the first sales period of the 1990 model year.@@@@1@29@@oe@2-2-2013
22404002@unknown@formal@none@1@S@The eight major domestic auto makers sold 160,510 North American-made cars in the first 10 days of October, a 12.6% drop from a year earlier.@@@@1@25@@oe@2-2-2013
22404003@unknown@formal@none@1@S@Domestically built truck sales were down 10.4% to 86,555 pickups, vans and sport utility vehicles.@@@@1@15@@oe@2-2-2013
22404004@unknown@formal@none@1@S@The heavy use of incentives to clear out 1989 models appears to have taken the steam, at least initially, out of 1990 model sales, which began officially Oct. 1.@@@@1@29@@oe@2-2-2013
22404005@unknown@formal@none@1@S@This appears particularly true at GM, which had strong sales in August and September but saw its early October car and truck results fall 26.3% from last year's unusually high level.@@@@1@31@@oe@2-2-2013
22404006@unknown@formal@none@1@S@Overall, sales of all domestic-made vehicles fell 11.9% from a year ago.@@@@1@12@@oe@2-2-2013
22404007@unknown@formal@none@1@S@Without GM, overall sales for the other U.S. automakers were roughly flat with 1989 results.@@@@1@15@@oe@2-2-2013
22404008@unknown@formal@none@1@S@Some of the U.S. auto makers have already adopted incentives on many 1990 models, but they may have to broaden their programs to keep sales up.@@@@1@26@@oe@2-2-2013
22404009@unknown@formal@none@1@S@"We've created a condition where, without incentives, it's a tough market," said Tom Kelly, sales manager for Bill Wink Chevrolet in Dearborn, Mich.@@@@1@23@@oe@2-2-2013
22404010@unknown@formal@none@1@S@Car sales fell to a seasonally adjusted annual selling rate of 5.8 million vehicles, the lowest since October 1987.@@@@1@19@@oe@2-2-2013
22404011@unknown@formal@none@1@S@The poor performance contrasts with a robust selling rate of almost eight million last month.@@@@1@15@@oe@2-2-2013
22404012@unknown@formal@none@1@S@Furthermore, dealers contacted late last week said they couldn't see any immediate impact on sales of Friday's steep market decline.@@@@1@20@@oe@2-2-2013
22404013@unknown@formal@none@1@S@GM's domestic car sales dropped 24.3% and its domestic trucks were down an even steeper 28.7% from the same period a year ago.@@@@1@23@@oe@2-2-2013
22404014@unknown@formal@none@1@S@All of the GM divisions except Cadillac showed big declines.@@@@1@10@@oe@2-2-2013
22404015@unknown@formal@none@1@S@Cadillac posted a 3.2% increase despite new competition from Lexus, the fledging luxury-car division of Toyota Motor Corp.@@@@1@18@@oe@2-2-2013
22404016@unknown@formal@none@1@S@Lexus sales weren't available; the cars are imported and Toyota reports their sales only at month-end.@@@@1@16@@oe@2-2-2013
22404017@unknown@formal@none@1@S@The sales drop for the No. 1 car maker may have been caused in part by the end in September of dealer incentives that GM offered in addition to consumer rebates and low-interest financing, a company spokesman said.@@@@1@38@@oe@2-2-2013
22404018@unknown@formal@none@1@S@Last year, GM had a different program in place that continued rewarding dealers until all the 1989 models had been sold.@@@@1@21@@oe@2-2-2013
22404019@unknown@formal@none@1@S@Aside from GM, other car makers posted generally mixed results.@@@@1@10@@oe@2-2-2013
22404020@unknown@formal@none@1@S@Ford Motor Co. had a 1.8% drop in domestic car sales but a 2.4% increase in domestic truck sales.@@@@1@19@@oe@2-2-2013
22404021@unknown@formal@none@1@S@Chrysler Corp. had a 7.5% drop in car sales, echoing its generally slow performance all year.@@@@1@16@@oe@2-2-2013
22404022@unknown@formal@none@1@S@However, sales of trucks, including the company's popular minivans, rose 4.3%.@@@@1@11@@oe@2-2-2013
22404023@unknown@formal@none@1@S@Honda Motor Co.'s sales of domestically built vehicles plunged 21.7% from a year earlier.@@@@1@14@@oe@2-2-2013
22404024@unknown@formal@none@1@S@Honda's plant in Marysville, Ohio, was gearing up to build 1990 model Accords, a Honda spokesman said.@@@@1@17@@oe@2-2-2013
22404025@unknown@formal@none@1@S@"We're really confident everything will bounce back to normal," he added.@@@@1@11@@oe@2-2-2013
22404026@unknown@formal@none@1@S@Separately, Chrysler said firm prices on its 1990-model domestic cars and minivans will rise an average of 5% over comparably equipped 1989 models.@@@@1@23@@oe@2-2-2013
22404027@unknown@formal@none@1@S@Firm prices were generally in line with the tentative prices announced earlier this fall.@@@@1@14@@oe@2-2-2013
22404028@unknown@formal@none@1@S@At that time, Chrysler said base prices, which aren't adjusted for equipment changes, would rise between 4% and 9% on most vehicle.@@@@1@22@@oe@2-2-2013
22404029@unknown@formal@none@1@S@a-Totals include only vehicle sales reported in period.@@@@1@8@@oe@2-2-2013
22404030@unknown@formal@none@1@S@c-Domestic car@@@@1@2@@oe@2-2-2013
22404031@unknown@formal@none@1@S@d-Percentage change is greater than 999%.@@@@1@6@@oe@2-2-2013
22404032@unknown@formal@none@1@S@x-There were 8 selling days in the most recent period and 8 a year earlier.@@@@1@15@@oe@2-2-2013
22404033@unknown@formal@none@1@S@Percentage differences based on daily sales rate rather than sales volume.@@@@1@11@@oe@2-2-2013
22405001@unknown@formal@none@1@S@Antonio L. Savoca, 66 years old, was named president and chief executive officer of the Atlantic Research Corp. subsidiary.@@@@1@19@@oe@2-2-2013
22405002@unknown@formal@none@1@S@Mr. Savoca had been a consultant to the subsidiary's rocket-propulsion operations.@@@@1@11@@oe@2-2-2013
22405003@unknown@formal@none@1@S@Mr. Savoca succeeds William H. Borten, who resigned to pursue personal interests.@@@@1@12@@oe@2-2-2013
22405004@unknown@formal@none@1@S@Sequa makes and repairs jet engines.@@@@1@6@@oe@2-2-2013
22405005@unknown@formal@none@1@S@It also has interests in military electronics and electro-optics, marine transportation and machinery used to make food and beverage cans.@@@@1@20@@oe@2-2-2013
22406001@unknown@formal@none@1@S@It wasn't so long ago that a radio network funded by the U.S. Congress -- and originally by the Central Intelligence Agency -- was accused by officials here of employing propagandists, imperialists and spies.@@@@1@34@@oe@2-2-2013
22406002@unknown@formal@none@1@S@Now, the network has opened a news bureau in the Hungarian capital.@@@@1@12@@oe@2-2-2013
22406003@unknown@formal@none@1@S@Employees held an open house to celebrate and even hung out a sign: "Szabad Europa Radio" -- Radio Free Europe.@@@@1@20@@oe@2-2-2013
22406004@unknown@formal@none@1@S@"I think this is a victory for the radio," says Barnabas de Bueky, a 55-year-old former Hungarian refugee who works in the Munich, West Germany, headquarters as deputy director of the Hungarian service.@@@@1@33@@oe@2-2-2013
22406005@unknown@formal@none@1@S@In fact, the network hopes to set up offices in Warsaw and anywhere else in the East Bloc that will have it.@@@@1@22@@oe@2-2-2013
22406006@unknown@formal@none@1@S@But the rapid changes brought on by glasnost and open borders are altering the network's life in more ways than one.@@@@1@21@@oe@2-2-2013
22406007@unknown@formal@none@1@S@In fact, Radio Free Europe is in danger of suffering from its success.@@@@1@13@@oe@2-2-2013
22406008@unknown@formal@none@1@S@While the network currently can operate freely in Budapest, so can others.@@@@1@12@@oe@2-2-2013
22406009@unknown@formal@none@1@S@In addition, competition for listeners is getting tougher in many ways than when broadcasting here was strictly controlled.@@@@1@18@@oe@2-2-2013
22406010@unknown@formal@none@1@S@Instead of being denounced as an evil agent of imperialism, Radio Free Europe is more likely to draw the criticism that its programs are too tame, even boring.@@@@1@28@@oe@2-2-2013
22406011@unknown@formal@none@1@S@"They have a lot to do these days to compete with Hungarian radio," says Andrew Deak, a computer-science student at the Technical University in Budapest.@@@@1@25@@oe@2-2-2013
22406012@unknown@formal@none@1@S@"The Hungarian {radio} reporters seem better informed and more critical about about what's going on here."@@@@1@16@@oe@2-2-2013
22406013@unknown@formal@none@1@S@Indeed, Hungary is in the midst of a media explosion.@@@@1@10@@oe@2-2-2013
22406014@unknown@formal@none@1@S@Boys on busy street corners peddle newspapers of every political stripe.@@@@1@11@@oe@2-2-2013
22406015@unknown@formal@none@1@S@Newsstands are packed with a colorful array of magazines.@@@@1@9@@oe@2-2-2013
22406016@unknown@formal@none@1@S@Radio and television are getting livelier and bolder.@@@@1@8@@oe@2-2-2013
22406017@unknown@formal@none@1@S@The British Broadcasting Corp. and the U.S. State Department's Voice of America broadcast over Hungarian airwaves, though only a few hours a day each in Hungarian.@@@@1@26@@oe@2-2-2013
22406018@unknown@formal@none@1@S@Australian press magnate Rupert Murdoch has bought 50% stakes in two popular and gossipy Hungarian newspapers, while Britain's Robert Maxwell has let it be known here that he is thinking about similar moves.@@@@1@33@@oe@2-2-2013
22406019@unknown@formal@none@1@S@But Radio Free Europe doesn't plan to fade away.@@@@1@9@@oe@2-2-2013
22406020@unknown@formal@none@1@S@With its mission for free speech and the capitalist way, the network's staff says it still has plenty to do -- in Hungary and in the "Great Eastern Beyond."@@@@1@29@@oe@2-2-2013
22406021@unknown@formal@none@1@S@Radio Free Europe and its sister station for the Soviet Union, Radio Liberty, say they won't cut back their more than 19 hours of daily broadcasts.@@@@1@26@@oe@2-2-2013
22406022@unknown@formal@none@1@S@They are still an important source of news for 60 million listeners in 23 exotic tongues: from Bulgarian and Belorussian to Kazakh and Kirghiz.@@@@1@24@@oe@2-2-2013
22406023@unknown@formal@none@1@S@The establishment of its first bureau in Warsaw Pact territory shows the depth of some of the changes in Eastern Europe.@@@@1@21@@oe@2-2-2013
22406024@unknown@formal@none@1@S@Months before the decision by the Hungarian Communist Party to rename itself Socialist and try to look more appealing to voters, the country's rulers were trying to look more hospitable.@@@@1@30@@oe@2-2-2013
22406025@unknown@formal@none@1@S@It proved a perfect time for Radio Free Europe to ask for permission to set up office.@@@@1@17@@oe@2-2-2013
22406026@unknown@formal@none@1@S@Not only did the Hungarian Ministry of Foreign Affairs approve Radio Free Europe's new location, but the Ministry of Telecommunications did something even more amazing: "They found us four phone lines in central Budapest," says Geza Szocs, a Radio Free Europe correspondent who helped organize the Budapest location.@@@@1@48@@oe@2-2-2013
22406027@unknown@formal@none@1@S@"That is a miracle."@@@@1@4@@oe@2-2-2013
22406028@unknown@formal@none@1@S@It's a far cry from the previous treatment of the network, which had to overcome jamming of its frequencies and intimidation of local correspondents (who filed reports to the network by phone, secret messengers or letters).@@@@1@36@@oe@2-2-2013
22406029@unknown@formal@none@1@S@In fact, some of the network's Hungarian listeners say they owe Radio Free Europe loyalty because it was responsible in many ways for keeping hope alive through what one writer here calls the "Dark Ages of the 20th Century."@@@@1@39@@oe@2-2-2013
22406030@unknown@formal@none@1@S@"During the past four years, many of us have sat up until late at night listening to our radios," says the writer.@@@@1@22@@oe@2-2-2013
22406031@unknown@formal@none@1@S@"There were some very brave broadcasts."@@@@1@6@@oe@2-2-2013
22406032@unknown@formal@none@1@S@The listeners, too, had to be brave.@@@@1@7@@oe@2-2-2013
22406033@unknown@formal@none@1@S@Through much of the post-World War II period, listening to Western broadcasts was a crime in Hungary.@@@@1@17@@oe@2-2-2013
22406034@unknown@formal@none@1@S@"When we listen to the Europe station, my mother still gets nervous," says a Budapest translator.@@@@1@16@@oe@2-2-2013
22406035@unknown@formal@none@1@S@"She wants to turn down the volume and close the curtains."@@@@1@11@@oe@2-2-2013
22406036@unknown@formal@none@1@S@Now, the toughest competition for Radio Free Europe comes during the late-night slot.@@@@1@13@@oe@2-2-2013
22406037@unknown@formal@none@1@S@Hungarian radio often saves its most politically outspoken broadcasts for around midnight.@@@@1@12@@oe@2-2-2013
22406038@unknown@formal@none@1@S@Television, which most of the time is considered rather tame, has entered the running with a new program, "The End of the Day," which comes on after 11 p.m.@@@@1@29@@oe@2-2-2013
22406039@unknown@formal@none@1@S@It is a talk show with opposition leaders and political experts who discuss Hungary's domestic problems as well as foreign affairs.@@@@1@21@@oe@2-2-2013
22406040@unknown@formal@none@1@S@Those who want to hear even more radical views have to get up at five on Sunday morning for "Sunday Journal," on Hungarian Radio.@@@@1@24@@oe@2-2-2013
22406041@unknown@formal@none@1@S@The competitive spirit is clearly influencing Radio Free Europe, which is trying to beef up programs.@@@@1@16@@oe@2-2-2013
22406042@unknown@formal@none@1@S@The Budapest office plans to hire free-lance reporters to cover the latest happenings in Hungarian country towns from Nagykanizsa in the west to Nyiregyhaza in the east.@@@@1@27@@oe@2-2-2013
22406043@unknown@formal@none@1@S@The Hungarian service has a daily 40-minute news show called Newsreel, with international and domestic news, plus a daily news review of opinions from around the world.@@@@1@27@@oe@2-2-2013
22406044@unknown@formal@none@1@S@There's also a host of new programs, trying to lighten up on the traditional diet of politics.@@@@1@17@@oe@2-2-2013
22406045@unknown@formal@none@1@S@A daily 35-minute program called "The March of Time" tries to find interesting tidbits of lighthearted news and gossip from around the world.@@@@1@23@@oe@2-2-2013
22406046@unknown@formal@none@1@S@There's a program for women and a science show.@@@@1@9@@oe@2-2-2013
22406047@unknown@formal@none@1@S@And to attract younger listeners, Radio Free Europe intersperses the latest in Western rock groups.@@@@1@15@@oe@2-2-2013
22406048@unknown@formal@none@1@S@The Pet Shop Boys are big this year in Budapest.@@@@1@10@@oe@2-2-2013
22406049@unknown@formal@none@1@S@"We are starving for all the news," says Mr. Deak, the student.@@@@1@12@@oe@2-2-2013
22406050@unknown@formal@none@1@S@"Every moment we want to know everything about the world.@@@@1@10@@oe@2-2-2013
22407001@unknown@formal@none@1@S@Proposals for government-operated "national service," like influenza, flare up from time to time, depress the resistance of the body politic, run their course, and seem to disappear, only to mutate and afflict public life anew.@@@@1@35@@oe@2-2-2013
22407002@unknown@formal@none@1@S@The disease metaphor comes to mind, of course, not as an aspersion on the advocates of national service.@@@@1@18@@oe@2-2-2013
22407003@unknown@formal@none@1@S@Rather, it is born of frustration with having to combat constantly changing strains of a statist idea that one thought had been eliminated in the early 1970s, along with smallpox.@@@@1@30@@oe@2-2-2013
22407004@unknown@formal@none@1@S@It is back with us again, in the form of legislation to pay volunteers under a "National and Community Service Act," a proposal with a serious shot at congressional passage this fall.@@@@1@32@@oe@2-2-2013
22407005@unknown@formal@none@1@S@Why does the national-service virus keep coming back?@@@@1@8@@oe@2-2-2013
22407006@unknown@formal@none@1@S@Perhaps it is because utopian nostalgia evokes both military experience and the social gospel.@@@@1@14@@oe@2-2-2013
22407007@unknown@formal@none@1@S@If only we could get America's wastrel youth into at least a psychic uniform we might be able to teach self-discipline again and revive the spirit of giving.@@@@1@28@@oe@2-2-2013
22407008@unknown@formal@none@1@S@A quarter of a century ago national service was promoted as a way of curing the manifest inequities of the draft -- by, of all things, expanding the draft.@@@@1@29@@oe@2-2-2013
22407009@unknown@formal@none@1@S@Those of us who resisted the idea then suspect today that an obligation of government service for all young people is still the true long-term aim of many national-service backers, despite their protests that present plans contain no coercion.@@@@1@39@@oe@2-2-2013
22407010@unknown@formal@none@1@S@Choice of the volunteer military in the 1970s seemed to doom national service as much as the draft.@@@@1@18@@oe@2-2-2013
22407011@unknown@formal@none@1@S@But the virus was kept alive in sociology departments until a couple of years ago, when it again was let loose.@@@@1@21@@oe@2-2-2013
22407012@unknown@formal@none@1@S@This time it attempted to invade two connected problems, the rising cost of higher education and the rising expense to the federal government of educational grants and loans.@@@@1@28@@oe@2-2-2013
22407013@unknown@formal@none@1@S@Why not keep and even expand the loans and grants, the advocates reasoned, but require some form of service from each recipient?@@@@1@22@@oe@2-2-2013
22407014@unknown@formal@none@1@S@Military service, moreover, could be a national-service option.@@@@1@8@@oe@2-2-2013
22407015@unknown@formal@none@1@S@Thus, undoubtedly it was hoped that the new strain of national service would prove contagious, infecting patriotic conservatives, pay-as-you-go moderates, and idealistic liberals.@@@@1@23@@oe@2-2-2013
22407016@unknown@formal@none@1@S@The Democratic Leadership Council, a centrist group sponsoring the plan, surely thought it might help the party to attract support, especially among college students and their parents.@@@@1@27@@oe@2-2-2013
22407017@unknown@formal@none@1@S@A provision allowing grants to be applied to first-home purchases was added to appeal to those who had had enough of schooling.@@@@1@22@@oe@2-2-2013
22407018@unknown@formal@none@1@S@The DLC plan envisaged "volunteers" planting trees, emptying bedpans, tutoring children, and assisting librarians for $100 a week, tax free, plus medical care.@@@@1@23@@oe@2-2-2013
22407019@unknown@formal@none@1@S@With a tax-free $10,000 voucher payment at the end of each year, the volunteers would be making a wage comparable to $17,500 a year.@@@@1@24@@oe@2-2-2013
22407020@unknown@formal@none@1@S@Mind you, most of "the volunteers" would be unskilled 17- to 18-year-olds, some not even high school graduates, and many saving money by living at home.@@@@1@26@@oe@2-2-2013
22407021@unknown@formal@none@1@S@They would be doing better financially under national service than many taxpayers working at the same kinds of jobs and perhaps supporting families.@@@@1@23@@oe@2-2-2013
22407022@unknown@formal@none@1@S@As it happened, political resistance developed among educational and minority interests that count on the present education grant system, so the national-service devotees decided to abandon the supposedly crucial principle of "give in order to get."@@@@1@36@@oe@2-2-2013
22407023@unknown@formal@none@1@S@Opposition to national service from the Pentagon, which wants to protect its own recruitment process, also led to the military-service option being dropped.@@@@1@23@@oe@2-2-2013
22407024@unknown@formal@none@1@S@Clearly, a new rationale for national service had to be cooked up.@@@@1@12@@oe@2-2-2013
22407025@unknown@formal@none@1@S@What better place to turn than Sen. Edward Kennedy's Labor Committee, that great stove of government expansionism, where many a stagnant pot of porridge is kept on the back burner until it can be brought forward and presented as nouvelle cuisine?@@@@1@41@@oe@2-2-2013
22407026@unknown@formal@none@1@S@In this case, the new recipe for national service called for throwing many assorted legislative leftovers into one kettle: a demonstration project for educational aid (particularly satisfying to the DLC and Sen. Sam Nunn), a similar demonstration program for youth conservation (a la Sen. Chris Dodd), a competitive grants program to states to spark youth and senior citizen volunteer projects (a Kennedy specialty), a community service work-study program for students (pleasing to the palate of Sen. Dale Bumpers, among others), plus engorgement of the VISTA volunteer program and the Retired Senior Volunteer, Foster Grandparent, and Senior Companion programs.@@@@1@98@@oe@2-2-2013
22407027@unknown@formal@none@1@S@Before the menu is printed, the House may add more ingredients, also changing the initial price, now posted at some $330 million.@@@@1@22@@oe@2-2-2013
22407028@unknown@formal@none@1@S@It is widely known that "too many cooks spoil the broth," but that wisdom does not necessarily reflect the view of the cooks, especially if they are senators.@@@@1@28@@oe@2-2-2013
22407029@unknown@formal@none@1@S@The "omnibus" bill coming out of Congress may be unwholesome glop, but the assorted chefs are happy and the restaurant is pushing the dish very hard.@@@@1@26@@oe@2-2-2013
22407030@unknown@formal@none@1@S@The aroma of patronage is in the air.@@@@1@8@@oe@2-2-2013
22407031@unknown@formal@none@1@S@Is the voluntary sector so weak that it needs such unsolicited assistance?@@@@1@12@@oe@2-2-2013
22407032@unknown@formal@none@1@S@On the contrary, it is as robust as ever.@@@@1@9@@oe@2-2-2013
22407033@unknown@formal@none@1@S@According to the Gallup Poll, American adults contribute an average of two hours a week of service, while financial contributions to charity in the 1980s have risen 30% (adjusted for inflation).@@@@1@31@@oe@2-2-2013
22407034@unknown@formal@none@1@S@Even if government does see various "unmet needs," national service is not the way to meet them.@@@@1@17@@oe@2-2-2013
22407035@unknown@formal@none@1@S@If we want to support students, we might adopt the idea used in other countries of offering more scholarships based on something called "scholarship," rather than on the government's idea of "service."@@@@1@32@@oe@2-2-2013
22407036@unknown@formal@none@1@S@Or we might provide a tax credit for working students.@@@@1@10@@oe@2-2-2013
22407037@unknown@formal@none@1@S@What we do not need to do is start a war, and then try to justify it by creating a GI Bill.@@@@1@22@@oe@2-2-2013
22407038@unknown@formal@none@1@S@To the extent we lack manpower to staff menial jobs in hospitals, for example, we should raise pay, pursue labor-saving technology, or allow more legal immigration, rather than overpay high school graduates as short-term workers and cause resentment among permanent workers paid lesser amounts to do the same jobs.@@@@1@49@@oe@2-2-2013
22407039@unknown@formal@none@1@S@Will national service, in the current highly politicized and opportunistic form exert enough appeal to get adopted?@@@@1@17@@oe@2-2-2013
22407040@unknown@formal@none@1@S@Not necessarily.@@@@1@2@@oe@2-2-2013
22407041@unknown@formal@none@1@S@Polls show wide, generalized support for some vague concept of service, but the bill now under discussion lacks any passionate public backing.@@@@1@22@@oe@2-2-2013
22407042@unknown@formal@none@1@S@Nonetheless, Senate Democrats are organizing a roll of supporting "associations," "societies" and "councils," some of which may hope to receive the paid "volunteers."@@@@1@23@@oe@2-2-2013
22407043@unknown@formal@none@1@S@So far, the president seems ill-disposed to substitute any of the omnibus for his own free-standing proposal to endow a "Points of Light" foundation with $25 million to inform citizens of all ages and exhort them to genuine volunteerism.@@@@1@39@@oe@2-2-2013
22407044@unknown@formal@none@1@S@However, even this admirable plan could become objectionable if the White House gives in to congressional Democratic pressure to add to the scope of the president's initiative or to involve the independent foundation in "brokering" federal funds for volunteer projects.@@@@1@40@@oe@2-2-2013
22407045@unknown@formal@none@1@S@There's no need for such concessions.@@@@1@6@@oe@2-2-2013
22407046@unknown@formal@none@1@S@The omnibus can be defeated, the virus controlled, and real service protected.@@@@1@12@@oe@2-2-2013
22407047@unknown@formal@none@1@S@National service, the utopian idea, still won't go away then, of course, but the millions of knee-socked youth performing works of "civic content" will be mobilized only in the imagination of their progenitors.@@@@1@33@@oe@2-2-2013
22407048@unknown@formal@none@1@S@Mr. Chapman is a fellow at the Indianapolis-based Hudson Institute.@@@@1@10@@oe@2-2-2013
22407049@unknown@formal@none@1@S@This article is adapted from remarks at a Hoover Institution conference on national service, in which Mr. Szanton also participated.@@@@1@20@@oe@2-2-2013
22408001@unknown@formal@none@1@S@Drug Emporium Inc. said Gary Wilber, 39 years old, who had been president and chief operating officer for the past year, was named chief executive officer of this drugstore chain.@@@@1@30@@oe@2-2-2013
22408002@unknown@formal@none@1@S@He succeeds his father, Philip T. Wilber, who founded the company and remains chairman.@@@@1@14@@oe@2-2-2013
22408003@unknown@formal@none@1@S@Robert E. Lyons III, 39, who headed the company's Philadelphia region, was appointed president and chief operating officer, succeeding Gary Wilber.@@@@1@21@@oe@2-2-2013
22409001@unknown@formal@none@1@S@American Physicians Service Group Inc. said it purchased about 42% of Prime Medical Services Inc. for about $5 million from Texas American Energy Corp.@@@@1@24@@oe@2-2-2013
22409002@unknown@formal@none@1@S@American Physicians said it also replaced four Texas American representatives on Prime's five-member board.@@@@1@14@@oe@2-2-2013
22409003@unknown@formal@none@1@S@American provides a variety of financial services to doctors and hospitals.@@@@1@11@@oe@2-2-2013
22409004@unknown@formal@none@1@S@Prime, based in Bedminster, N.J., provides management services to cardiac rehabilitation clinics and diagnostic imaging centers.@@@@1@16@@oe@2-2-2013
22409005@unknown@formal@none@1@S@For the year ended June 30, Prime had a net loss of $3 million on sales of $13.8 million.@@@@1@19@@oe@2-2-2013
22410001@unknown@formal@none@1@S@The inflation-adjusted growth rate for France's gross domestic product for the second quarter was revised upward to 0.8% from the previous three months from the initial estimate of 0.7%, the National Statistics Institute said.@@@@1@34@@oe@2-2-2013
22410002@unknown@formal@none@1@S@The state agency said the latest revision left the growth rate for the first-quarter compared with the previous three months unchanged at 1.3%.@@@@1@23@@oe@2-2-2013
22410003@unknown@formal@none@1@S@If the economy continues to expand by 0.8% a quarter for the rest of the year, it would leave GDP growth for all of 1989 at 3%, the institute said.@@@@1@30@@oe@2-2-2013
22410004@unknown@formal@none@1@S@That would be down from the 3.8% rise posted in 1988.@@@@1@11@@oe@2-2-2013
22411001@unknown@formal@none@1@S@The Canadian government announced a new, 12-year Canada Savings Bond issue that will yield investors 10.5% in the first year.@@@@1@20@@oe@2-2-2013
22411002@unknown@formal@none@1@S@The annual interest rate for each of the next 11 years will be set each fall, when details of a new series are released.@@@@1@24@@oe@2-2-2013
22411003@unknown@formal@none@1@S@Canada Savings Bonds are major government instruments for meeting its financial requirements.@@@@1@12@@oe@2-2-2013
22411004@unknown@formal@none@1@S@The government has about 41.4 billion Canadian dollars (US$35.2 billion) of such bonds currently outstanding.@@@@1@15@@oe@2-2-2013
22411005@unknown@formal@none@1@S@Only Canadian residents are permitted to buy Canada Savings Bonds, which may be redeemed any time at face value.@@@@1@19@@oe@2-2-2013
22411006@unknown@formal@none@1@S@The bonds go on sale Oct. 19.@@@@1@7@@oe@2-2-2013
22412001@unknown@formal@none@1@S@The debate over National Service has begun again.@@@@1@8@@oe@2-2-2013
22412002@unknown@formal@none@1@S@After a decade in which more than 50 localities established their own service or conservation corps and dozens of school systems made community service a prerequisite to high-school graduation, the focus has shifted to Washington.@@@@1@35@@oe@2-2-2013
22412003@unknown@formal@none@1@S@At least 10 bills proposing one or another national program were introduced in Congress this spring.@@@@1@16@@oe@2-2-2013
22412004@unknown@formal@none@1@S@One, co-sponsored by Sen. Sam Nunn (D., Ga.) and Rep. Dave McCurdy (D., Okla.), would have restricted federal college subsidies to students who had served.@@@@1@25@@oe@2-2-2013
22412005@unknown@formal@none@1@S@An omnibus bill assembled by Sen. Edward Kennedy (D., Mass.), and including some diluted Nunn-McCurdy provisions along with proposals by fellow Democratic Sens. Claiborne Pell, Barbara Mikulski and Christopher Dodd, has been reported out of the Senate Labor Committee.@@@@1@39@@oe@2-2-2013
22412006@unknown@formal@none@1@S@It might well win Senate passage.@@@@1@6@@oe@2-2-2013
22412007@unknown@formal@none@1@S@President Bush has outlined his own Youth Entering Service (YES) plan, though its details remain to be specified.@@@@1@18@@oe@2-2-2013
22412008@unknown@formal@none@1@S@What is one to think of all this?@@@@1@8@@oe@2-2-2013
22412009@unknown@formal@none@1@S@Doctrine and special interests govern some responses.@@@@1@7@@oe@2-2-2013
22412010@unknown@formal@none@1@S@People eager to have youth "pay their dues to society" favor service proposals -- preferably mandatory ones.@@@@1@17@@oe@2-2-2013
22412011@unknown@formal@none@1@S@So do those who seek a "re-energized concept of citizenship," a concept imposing stern obligations as well as conferring rights.@@@@1@20@@oe@2-2-2013
22412012@unknown@formal@none@1@S@Then there are instinctive opponents.@@@@1@5@@oe@2-2-2013
22412013@unknown@formal@none@1@S@To libertarians, mandatory service is an abomination and voluntary systems are illegitimate uses of tax money.@@@@1@16@@oe@2-2-2013
22412014@unknown@formal@none@1@S@Devotees of the market question the value of the work national service would perform:@@@@1@14@@oe@2-2-2013
22412015@unknown@formal@none@1@S@If the market won't pay for it, they argue, it can't be worth its cost.@@@@1@15@@oe@2-2-2013
22412016@unknown@formal@none@1@S@Elements of the left are also reflexively opposed; they see service as a cover for the draft, or fear the regimentation of youth, or want to see rights enlarged, not obligations.@@@@1@31@@oe@2-2-2013
22412017@unknown@formal@none@1@S@But what about those of us whose views are not predetermined by formula or ideology?@@@@1@15@@oe@2-2-2013
22412018@unknown@formal@none@1@S@How should we think about national service?@@@@1@7@@oe@2-2-2013
22412019@unknown@formal@none@1@S@Let's begin by recognizing a main source of confusion -- "national service" has no agreed meaning.@@@@1@16@@oe@2-2-2013
22412020@unknown@formal@none@1@S@Would service be voluntary or compulsory?@@@@1@6@@oe@2-2-2013
22412021@unknown@formal@none@1@S@Short or long?@@@@1@3@@oe@2-2-2013
22412022@unknown@formal@none@1@S@Part-time or full-time?@@@@1@3@@oe@2-2-2013
22412023@unknown@formal@none@1@S@Paid or unpaid?@@@@1@3@@oe@2-2-2013
22412024@unknown@formal@none@1@S@Would participants live at home and work nearby or live in barracks and work on public lands?@@@@1@17@@oe@2-2-2013
22412025@unknown@formal@none@1@S@What kinds of work would they do?@@@@1@7@@oe@2-2-2013
22412026@unknown@formal@none@1@S@What does "national" mean?@@@@1@4@@oe@2-2-2013
22412027@unknown@formal@none@1@S@Would the program be run by the federal government, by local governments, or by private voluntary organizations?@@@@1@17@@oe@2-2-2013
22412028@unknown@formal@none@1@S@And who would serve?@@@@1@4@@oe@2-2-2013
22412029@unknown@formal@none@1@S@Only males, as with the draft, or both sexes?@@@@1@9@@oe@2-2-2013
22412030@unknown@formal@none@1@S@Youth only or all ages?@@@@1@5@@oe@2-2-2013
22412031@unknown@formal@none@1@S@Middle-class people, or poor people, or a genuine cross-section?@@@@1@9@@oe@2-2-2013
22412032@unknown@formal@none@1@S@Many or few?@@@@1@3@@oe@2-2-2013
22412033@unknown@formal@none@1@S@Those are not trivial questions, and the label "national service" answers none of them.@@@@1@14@@oe@2-2-2013
22412034@unknown@formal@none@1@S@Then how should we think about national service?@@@@1@8@@oe@2-2-2013
22412035@unknown@formal@none@1@S@As a starting point, here are five propositions: 1. Consider the ingredients, not the name.@@@@1@15@@oe@2-2-2013
22412036@unknown@formal@none@1@S@Ignore "national service" in the abstract; consider specific proposals.@@@@1@9@@oe@2-2-2013
22412037@unknown@formal@none@1@S@They will differ in crucial ways.@@@@1@6@@oe@2-2-2013
22412038@unknown@formal@none@1@S@2. "Service" should be service.@@@@1@5@@oe@2-2-2013
22412039@unknown@formal@none@1@S@As commonly understood, service implies sacrifice.@@@@1@6@@oe@2-2-2013
22412040@unknown@formal@none@1@S@It involves accepting risk, or giving up income, or deferring a career.@@@@1@12@@oe@2-2-2013
22412041@unknown@formal@none@1@S@It follows that proposals like Nunn-McCurdy, whose benefits to enrollees are worth some $17,500 a year, do not qualify.@@@@1@19@@oe@2-2-2013
22412042@unknown@formal@none@1@S@There is a rationale for such bills: Federal subsidies to college students amount to "a GI Bill without the GI"; arguably those benefits should be earned, not given.@@@@1@28@@oe@2-2-2013
22412043@unknown@formal@none@1@S@But the earnings exceed by 20% the average income of young high-school graduates with full-time jobs.@@@@1@16@@oe@2-2-2013
22412044@unknown@formal@none@1@S@Why call that service?@@@@1@4@@oe@2-2-2013
22412045@unknown@formal@none@1@S@3. Encouragement is fine; compulsion is not.@@@@1@7@@oe@2-2-2013
22412046@unknown@formal@none@1@S@Compelled service is unconstitutional.@@@@1@4@@oe@2-2-2013
22412047@unknown@formal@none@1@S@It is also unwise and unenforceable.@@@@1@6@@oe@2-2-2013
22412048@unknown@formal@none@1@S@(Who will throw several hundred thousand refusers in jail each year?)@@@@1@11@@oe@2-2-2013
22412049@unknown@formal@none@1@S@But through tax policy and in other ways the federal government encourages many kinds of behavior.@@@@1@16@@oe@2-2-2013
22412050@unknown@formal@none@1@S@It should also encourage service -- preferably by all classes and all ages.@@@@1@13@@oe@2-2-2013
22412051@unknown@formal@none@1@S@Its encouragement should strengthen and not undercut the strong tradition of volunteering in the U.S., should build on the service programs already in existence, and should honor local convictions about which tasks most need doing.@@@@1@35@@oe@2-2-2013
22412052@unknown@formal@none@1@S@4. Good programs are not cheap.@@@@1@6@@oe@2-2-2013
22412053@unknown@formal@none@1@S@Enthusiasts assume that national service would get important work done cheaply: forest fires fought, housing rehabilitated, students tutored, day-care centers staffed.@@@@1@21@@oe@2-2-2013
22412054@unknown@formal@none@1@S@There is important work to be done, and existing service and conservation corps have shown that even youths who start with few skills can do much of it well -- but not cheaply.@@@@1@33@@oe@2-2-2013
22412055@unknown@formal@none@1@S@Good service programs require recruitment, screening, training and supervision -- all of high quality.@@@@1@14@@oe@2-2-2013
22412056@unknown@formal@none@1@S@They involve stipends to participants.@@@@1@5@@oe@2-2-2013
22412057@unknown@formal@none@1@S@Full-time residential programs also require housing and full-time supervision; they are particularly expensive -- more per participant than a year at Stanford or Yale.@@@@1@24@@oe@2-2-2013
22412058@unknown@formal@none@1@S@Non-residential programs are cheaper, but good ones still come to some $10,000 a year.@@@@1@14@@oe@2-2-2013
22412059@unknown@formal@none@1@S@Are they worth that?@@@@1@4@@oe@2-2-2013
22412060@unknown@formal@none@1@S@Evaluations suggest that good ones are -- especially so if the effects on participants are counted.@@@@1@16@@oe@2-2-2013
22412061@unknown@formal@none@1@S@But the calculations are challengeable.@@@@1@5@@oe@2-2-2013
22412062@unknown@formal@none@1@S@5. Underclass youth are a special concern.@@@@1@7@@oe@2-2-2013
22412063@unknown@formal@none@1@S@Are such expenditures worthwhile, then?@@@@1@5@@oe@2-2-2013
22412064@unknown@formal@none@1@S@Yes, if targeted.@@@@1@3@@oe@2-2-2013
22412065@unknown@formal@none@1@S@People of all ages and all classes should be encouraged to serve, but there are many ways for middle-class kids, and their elders, to serve at little public cost.@@@@1@29@@oe@2-2-2013
22412066@unknown@formal@none@1@S@They can volunteer at any of thousands of non-profit institutions, or participate in service programs required by high schools or encouraged by colleges or employers.@@@@1@25@@oe@2-2-2013
22412067@unknown@formal@none@1@S@Underclass youth don't have those opportunities.@@@@1@6@@oe@2-2-2013
22412068@unknown@formal@none@1@S@They are not enrolled in high school or college.@@@@1@9@@oe@2-2-2013
22412069@unknown@formal@none@1@S@They are unlikely to be employed.@@@@1@6@@oe@2-2-2013
22412070@unknown@formal@none@1@S@And they have grown up in unprecedentedly grim circumstances, among family structures breaking down, surrounded by self-destructive behaviors and bleak prospects.@@@@1@21@@oe@2-2-2013
22412071@unknown@formal@none@1@S@But many of them can be quite profoundly reoriented by productive and disciplined service.@@@@1@14@@oe@2-2-2013
22412072@unknown@formal@none@1@S@Some won't accept the discipline; others drop out for other reasons.@@@@1@11@@oe@2-2-2013
22412073@unknown@formal@none@1@S@But some whom nothing else is reaching are transformed.@@@@1@9@@oe@2-2-2013
22412074@unknown@formal@none@1@S@Learning skills, producing something cooperatively, feeling useful, they are no longer dependent -- others now depend on them.@@@@1@18@@oe@2-2-2013
22412075@unknown@formal@none@1@S@Even if it is cheaper to build playgrounds or paint apartments or plant dune-grass with paid professionals, the effects on the young people providing those services alter the calculation.@@@@1@29@@oe@2-2-2013
22412076@unknown@formal@none@1@S@Strictly speaking, these youth are not performing service.@@@@1@8@@oe@2-2-2013
22412077@unknown@formal@none@1@S@They are giving up no income, deferring no careers, incurring no risk.@@@@1@12@@oe@2-2-2013
22412078@unknown@formal@none@1@S@But they believe themselves to be serving, and they begin to respect themselves (and others), to take control of their lives, to think of the future.@@@@1@26@@oe@2-2-2013
22412079@unknown@formal@none@1@S@That is a service to the nation.@@@@1@7@@oe@2-2-2013
22412080@unknown@formal@none@1@S@It is what federal support should try hardest to achieve.@@@@1@10@@oe@2-2-2013
22412081@unknown@formal@none@1@S@Mr. Szanton, a Carter administration budget official, heads his own Washington-based strategic planning firm.@@@@1@14@@oe@2-2-2013
22412082@unknown@formal@none@1@S@He is a co-author of "National Service: What Would It Mean?"@@@@1@11@@oe@2-2-2013
22412083@unknown@formal@none@1@S@(Lexington Books, 1986).@@@@1@3@@oe@2-2-2013
22413001@unknown@formal@none@1@S@Government officials here and in other countries laid plans through the weekend to head off a Monday market meltdown -- but went out of their way to keep their moves quiet.@@@@1@31@@oe@2-2-2013
22413002@unknown@formal@none@1@S@Federal Reserve Chairman Alan Greenspan was on the telephones, making it clear to officials in the U.S. and abroad that the Fed was prepared to inject massive amounts of money into the banking system, as it did in October 1987, if the action were needed to prevent a financial crisis.@@@@1@50@@oe@2-2-2013
22413003@unknown@formal@none@1@S@And at the Treasury, Secretary Nicholas Brady talked with friends and associates on Wall Street while Assistant Secretary David Mullins carefully analyzed data on the Friday market plunge.@@@@1@28@@oe@2-2-2013
22413004@unknown@formal@none@1@S@But the officials feared that any public announcements would only increase market jitters.@@@@1@13@@oe@2-2-2013
22413005@unknown@formal@none@1@S@In addition, officials at the Fed and in the Bush administration decided that avoiding overt actions and statements over the weekend would give them more strength and flexibility should Friday's market drop turn into this morning's rout.@@@@1@37@@oe@2-2-2013
22413006@unknown@formal@none@1@S@"The disadvantage at this point is that anything you do that looks like you are doing too much tends to reinforce a sense of crisis," said one government official, insisting on anonymity.@@@@1@32@@oe@2-2-2013
22413007@unknown@formal@none@1@S@The Fed's efforts at secrecy were partly foiled Sunday morning, when both the New York Times and the Washington Post carried stories quoting a senior Fed official saying the central bank was prepared to pour cash into the banking system Monday morning.@@@@1@42@@oe@2-2-2013
22413008@unknown@formal@none@1@S@Fed Chairman Greenspan was surprised by both stories, according to knowledgeable sources, and insisted he hadn't authorized any public comment.@@@@1@20@@oe@2-2-2013
22413009@unknown@formal@none@1@S@Nevertheless, Fed officials acknowledged the stories were reasonably accurate portrayals of the central bank's game plan.@@@@1@16@@oe@2-2-2013
22413010@unknown@formal@none@1@S@It is prepared to assume the same role it played in October 1987, providing money to the markets if necessary to keep the financial system afloat.@@@@1@26@@oe@2-2-2013
22413011@unknown@formal@none@1@S@The Fed provides money to the banking system by buying government securities from financial institutions.@@@@1@15@@oe@2-2-2013
22413012@unknown@formal@none@1@S@The reticence of federal officials was evident in the appearance Sunday of Budget Director Richard Darman on ABC's "This Week."@@@@1@20@@oe@2-2-2013
22413013@unknown@formal@none@1@S@"Secretary of the Treasury Brady and Chairman Greenspan and the chairman of the SEC and others have been in close contact.@@@@1@21@@oe@2-2-2013
22413014@unknown@formal@none@1@S@I'm sure they'll do what's right, what's prudent, what's sensible," he said.@@@@1@12@@oe@2-2-2013
22413015@unknown@formal@none@1@S@When it was suggested his comment was a "non-answer," Mr. Darman replied: "It is a non-answer.@@@@1@16@@oe@2-2-2013
22413016@unknown@formal@none@1@S@But, in this context, that's the smart thing to do."@@@@1@10@@oe@2-2-2013
22413017@unknown@formal@none@1@S@At the Treasury, Secretary Brady issued a statement minimizing the stock market's drop.@@@@1@13@@oe@2-2-2013
22413018@unknown@formal@none@1@S@"Today's stock market decline doesn't signal any fundamental change in the condition of the economy," he said.@@@@1@17@@oe@2-2-2013
22413019@unknown@formal@none@1@S@"The economy remains well-balanced, and the outlook is for continued moderate growth."@@@@1@12@@oe@2-2-2013
22413020@unknown@formal@none@1@S@But administration officials conceded that Friday's drop carried the chance of further declines this week.@@@@1@15@@oe@2-2-2013
22413021@unknown@formal@none@1@S@"One possibility is that this is a surgical setback, reasonably limited in its breadth, and not a major problem," said one senior administration official, who also asked that he not be named.@@@@1@32@@oe@2-2-2013
22413022@unknown@formal@none@1@S@"The other is that we see another major disaster, like two years ago.@@@@1@13@@oe@2-2-2013
22413023@unknown@formal@none@1@S@I think that's less likely."@@@@1@5@@oe@2-2-2013
22413024@unknown@formal@none@1@S@Nevertheless, Fed Chairman Greenspan and Vice Chairman Manuel Johnson were in their offices Sunday evening, monitoring events as they unfolded in markets around the world.@@@@1@25@@oe@2-2-2013
22413025@unknown@formal@none@1@S@The action was expected to begin with the opening of the New Zealand foreign exchange markets at 5 p.m. EST -- when stocks there plunged -- and to continue as the trading day began later in the evening in Tokyo and through early this morning in Europe.@@@@1@47@@oe@2-2-2013
22413026@unknown@formal@none@1@S@Both the Treasury and the Fed planned to keep market rooms operating throughout the night to monitor the developments.@@@@1@19@@oe@2-2-2013
22413027@unknown@formal@none@1@S@In Tokyo, share prices dropped sharply by 1.7% in early Monday morning trading.@@@@1@13@@oe@2-2-2013
22413028@unknown@formal@none@1@S@After the initial slide, the market appeared to be turning around but by early afternoon was headed lower.@@@@1@18@@oe@2-2-2013
22413029@unknown@formal@none@1@S@In the Bush administration, the lead is being taken by Treasury Secretary Brady, Undersecretary Robert Glauber and Assistant Secretary Mullins.@@@@1@20@@oe@2-2-2013
22413030@unknown@formal@none@1@S@The three men worked together on the so-called Brady Commission, headed by Mr. Brady, which was established after the 1987 crash to examine the market's collapse.@@@@1@26@@oe@2-2-2013
22413031@unknown@formal@none@1@S@As a result they have extensive knowledge in financial markets, and financial market crises.@@@@1@14@@oe@2-2-2013
22413032@unknown@formal@none@1@S@Mr. Brady was at the White House Friday afternoon when the stock market's decline began.@@@@1@15@@oe@2-2-2013
22413033@unknown@formal@none@1@S@He was quickly on the phone with Mr. Mullins, who in turn was talking with the chairmen of the New York and Chicago exchanges.@@@@1@24@@oe@2-2-2013
22413034@unknown@formal@none@1@S@Later, Mr. Brady phoned Mr. Greenspan, SEC Chairman Richard Breeden and numerous contacts in New York and overseas.@@@@1@18@@oe@2-2-2013
22413035@unknown@formal@none@1@S@Aides say he continued to work the phones through the weekend.@@@@1@11@@oe@2-2-2013
22413036@unknown@formal@none@1@S@Administration officials say President Bush was briefed throughout Friday afternoon and evening, even after leaving for Camp David.@@@@1@18@@oe@2-2-2013
22413037@unknown@formal@none@1@S@He had frequent telephone consultations with Mr. Brady and Michael Boskin, chairman of the counsel of economic advisers.@@@@1@18@@oe@2-2-2013
22413038@unknown@formal@none@1@S@Government officials tried throughout the weekend to render a business-as-usual appearance in order to avoid any sense of panic.@@@@1@19@@oe@2-2-2013
22413039@unknown@formal@none@1@S@Treasury Undersecretary David Mulford, for instance, was at a meeting of the Business Council in Hot Springs, Va., when the stock market fell, and remained there through the following day.@@@@1@30@@oe@2-2-2013
22413040@unknown@formal@none@1@S@And as of last night, Fed Chairman Greenspan hadn't canceled his plans to address the American Bankers Association convention in Washington at 10 a.m. this morning.@@@@1@26@@oe@2-2-2013
22413041@unknown@formal@none@1@S@Ironically, Mr. Greenspan was scheduled to address the same convention in Dallas on Oct. 20, 1987.@@@@1@16@@oe@2-2-2013
22413042@unknown@formal@none@1@S@He flew to Dallas on Oct. 19, when the market plummeted 508 points, but then turned around the next morning and returned to Washington without delivering his speech.@@@@1@28@@oe@2-2-2013
22414001@unknown@formal@none@1@S@Following is a weekly listing of unadited net asset values of publicly traded investment fund shares, reported by the companies as of Friday's close.@@@@1@24@@oe@2-2-2013
22414002@unknown@formal@none@1@S@Also shown is the closing listed market price or a dealer-to-dealer asked price of each fund's shares, with the percentage of difference.@@@@1@22@@oe@2-2-2013
22414003@unknown@formal@none@1@S@b-As of Thursday's close.@@@@1@4@@oe@2-2-2013
22414004@unknown@formal@none@1@S@c-Translated at Commercial Rand exchange rate.@@@@1@6@@oe@2-2-2013
22414005@unknown@formal@none@1@S@e-In Canadian dollars.@@@@1@3@@oe@2-2-2013
22414006@unknown@formal@none@1@S@f-As of Wednesday's close.@@@@1@4@@oe@2-2-2013
22414007@unknown@formal@none@1@S@g-10.06.89 NAV:22.15.@@@@1@2@@oe@2-2-2013
22414008@unknown@formal@none@1@S@z-Not available.@@@@1@2@@oe@2-2-2013
22415001@unknown@formal@none@1@S@Put down that phone.@@@@1@4@@oe@2-2-2013
22415002@unknown@formal@none@1@S@Walk around the room; take two deep breaths.@@@@1@8@@oe@2-2-2013
22415003@unknown@formal@none@1@S@Resist the urge to call your broker and sell all your stocks.@@@@1@12@@oe@2-2-2013
22415004@unknown@formal@none@1@S@That's the advice of most investment professionals after Friday's 190-point drop in the Dow Jones Industrial Average.@@@@1@17@@oe@2-2-2013
22415005@unknown@formal@none@1@S@No one can say for sure what will happen today.@@@@1@10@@oe@2-2-2013
22415006@unknown@formal@none@1@S@And investment pros are divided on whether stocks will perform well or badly in the next six months.@@@@1@18@@oe@2-2-2013
22415007@unknown@formal@none@1@S@But they're nearly unanimous on one point: Don't sell into a panic.@@@@1@12@@oe@2-2-2013
22415008@unknown@formal@none@1@S@Investors who sold everything after the crash of 1987 lived to regret it.@@@@1@13@@oe@2-2-2013
22415009@unknown@formal@none@1@S@Even after Friday's plunge, the Dow Jones Industrial Average was 48% above where it landed on Oct. 19 two years ago.@@@@1@21@@oe@2-2-2013
22415010@unknown@formal@none@1@S@Panic selling also was unwise during other big declines in the past.@@@@1@12@@oe@2-2-2013
22415011@unknown@formal@none@1@S@The crash of 1929 was followed by a substantial recovery before the great Depression and awful bear market of the 1930s began.@@@@1@22@@oe@2-2-2013
22415012@unknown@formal@none@1@S@The "October massacres" of 1978 and 1979 were scary, but didn't lead to severe or sustained downturns.@@@@1@17@@oe@2-2-2013
22415013@unknown@formal@none@1@S@Indeed, some pros see Friday's plunge, plus any further damage that might occur early this week, as a chance for bargain hunting.@@@@1@22@@oe@2-2-2013
22415014@unknown@formal@none@1@S@"There has been a lot of emotional selling that presents a nice buying opportunity if you've got the cash," says Stephen B. Timbers, chief investment officer of Chicago-based Kemper Financial Services Inc.@@@@1@32@@oe@2-2-2013
22415015@unknown@formal@none@1@S@But most advisers think the immediate course for individual investors should be to stand pat.@@@@1@15@@oe@2-2-2013
22415016@unknown@formal@none@1@S@"When you see a runaway train," says Steve Janachowski, partner in the San Francisco investment advisory firm Brouwer & Janachowski, "you wait for the train to stop."@@@@1@27@@oe@2-2-2013
22415017@unknown@formal@none@1@S@Even for people who expect a bear market in coming months -- and a sizable number of money managers and market pundits do -- the advice is: Wait for the market to bounce back, and sell shares gradually during rallies.@@@@1@40@@oe@2-2-2013
22415018@unknown@formal@none@1@S@The best thing individual investors can do is "just sit tight," says Marshall B. Front, executive vice president and head of investment counseling at Stein Roe & Farnham Inc., a Chicago-based investment counseling firm that manages about $18 billion.@@@@1@39@@oe@2-2-2013
22415019@unknown@formal@none@1@S@On the one hand, Mr. Front says, it would be misguided to sell into "a classic panic."@@@@1@17@@oe@2-2-2013
22415020@unknown@formal@none@1@S@On the other hand, it's not necessarily a good time to jump in and buy.@@@@1@15@@oe@2-2-2013
22415021@unknown@formal@none@1@S@"This is all emotion right now, and when emotion starts to run, it can run further than anyone anticipates," he said.@@@@1@21@@oe@2-2-2013
22415022@unknown@formal@none@1@S@"So it's more prudent to wait and see how things stabilize."@@@@1@11@@oe@2-2-2013
22415023@unknown@formal@none@1@S@Roger Ibbotson, professor of finance at Yale University and head of the market information firm Ibbotson Associates Inc., says, "My real advice would be to just ride through it.@@@@1@29@@oe@2-2-2013
22415024@unknown@formal@none@1@S@Generally, it isn't wise to be in and out" of the stock market.@@@@1@13@@oe@2-2-2013
22415025@unknown@formal@none@1@S@Mr. Ibbotson thinks that this week is "going to be a roller-coaster week."@@@@1@13@@oe@2-2-2013
22415026@unknown@formal@none@1@S@But he also thinks it is "a good week to consider buying."@@@@1@12@@oe@2-2-2013
22415027@unknown@formal@none@1@S@John Snyder, former president of the Los Angeles chapter of the National Association of Investors Corp., an organization of investment clubs and individual investors, says his fellow club members didn't sell in the crash of 1987, and see no reason to sell now.@@@@1@43@@oe@2-2-2013
22415028@unknown@formal@none@1@S@"We're dedicated long-term investors, not traders," he says.@@@@1@8@@oe@2-2-2013
22415029@unknown@formal@none@1@S@"We understand panics and euphoria.@@@@1@5@@oe@2-2-2013
22415030@unknown@formal@none@1@S@And we hope to take advantage of panics and buy stocks when they plunge."@@@@1@14@@oe@2-2-2013
22415031@unknown@formal@none@1@S@One camp of investment pros sees what happened Friday as an opportunity.@@@@1@12@@oe@2-2-2013
22415032@unknown@formal@none@1@S@Over the next days and weeks, they say, investors should look for stocks to buy.@@@@1@15@@oe@2-2-2013
22415033@unknown@formal@none@1@S@Friday's action "was an old-fashioned panic," says Alfred Goldman, director of technical market analysis for A.G. Edwards & Sons in St. Louis.@@@@1@22@@oe@2-2-2013
22415034@unknown@formal@none@1@S@"Stocks were being thrown out of windows at any price."@@@@1@10@@oe@2-2-2013
22415035@unknown@formal@none@1@S@His advice: "You ought to be there with a basket catching them."@@@@1@12@@oe@2-2-2013
22415036@unknown@formal@none@1@S@James Craig, portfolio manager for the Denver-based Janus Fund, which has one of the industry's better track records, started his buying during Friday's plunge.@@@@1@24@@oe@2-2-2013
22415037@unknown@formal@none@1@S@Stocks such as Hershey Foods Corp., Wal-Mart Stores Inc., American International Group Inc. and Federal National Mortgage Association became such bargains that he couldn't resist them, he says.@@@@1@28@@oe@2-2-2013
22415038@unknown@formal@none@1@S@And Mr. Craig expects to pick up more shares today.@@@@1@10@@oe@2-2-2013
22415039@unknown@formal@none@1@S@"It will be chaotic at first, but I would not be buying if I thought we were headed for real trouble," he says.@@@@1@23@@oe@2-2-2013
22415040@unknown@formal@none@1@S@He argues that stocks are reasonably valued now, and that interest rates are lower now than in the fall of 1987.@@@@1@21@@oe@2-2-2013
22415041@unknown@formal@none@1@S@Mr. Front of Stein Roe suggests that any buying should "concentrate in stocks that have lagged the market on the up side, or stocks that have been beaten down a lot more than the market in this correction."@@@@1@38@@oe@2-2-2013
22415042@unknown@formal@none@1@S@His firm favors selected computer, drug and pollution-control stocks.@@@@1@9@@oe@2-2-2013
22415043@unknown@formal@none@1@S@Other investment pros are more pessimistic.@@@@1@6@@oe@2-2-2013
22415044@unknown@formal@none@1@S@They say investors should sell stocks -- but not necessarily right away.@@@@1@12@@oe@2-2-2013
22415045@unknown@formal@none@1@S@Many of them stress that the selling can be orderly, gradual, and done when stock prices are rallying.@@@@1@18@@oe@2-2-2013
22415046@unknown@formal@none@1@S@On Thursday, William Fleckenstein, a Seattle money manager, used futures contracts in his personal account to place a bet that the broad market averages would decline.@@@@1@26@@oe@2-2-2013
22415047@unknown@formal@none@1@S@He thinks the underlying inflation rate is around 5% to 6%, far higher than most people suppose.@@@@1@17@@oe@2-2-2013
22415048@unknown@formal@none@1@S@In the pension accounts he manages, Mr. Fleckenstein has raised cash positions and invested in gold and natural gas stocks, partly as an inflation hedge.@@@@1@25@@oe@2-2-2013
22415049@unknown@formal@none@1@S@He thinks government officials are terrified to let a recession start when government, corporate and personal debt levels are so high.@@@@1@21@@oe@2-2-2013
22415050@unknown@formal@none@1@S@So he thinks the government will err on the side of rekindled inflation.@@@@1@13@@oe@2-2-2013
22415051@unknown@formal@none@1@S@As a result, Mr. Fleckenstein says, "I think the ball game's over," and investors are about to face a bear market.@@@@1@21@@oe@2-2-2013
22415052@unknown@formal@none@1@S@David M. Jones, vice president at Aubrey G. Lanston & Co., recommends Treasury securities (of up to five years' maturity).@@@@1@20@@oe@2-2-2013
22415053@unknown@formal@none@1@S@He says the Oct. 6 employment report, showing slower economic growth and a severe weakening in the manufacturing sector, is a warning sign to investors.@@@@1@25@@oe@2-2-2013
22415054@unknown@formal@none@1@S@One strategy for investors who want to stay in but hedge their bets is to buy "put" options, either on the individual stocks they own or on a broad market index.@@@@1@31@@oe@2-2-2013
22415055@unknown@formal@none@1@S@A put option gives its holder the right (but not the obligation) to sell a stock (or stock index) for a specified price (the strike price) until the option expires.@@@@1@30@@oe@2-2-2013
22415056@unknown@formal@none@1@S@Whether this insurance is worthwhile depends on the cost of an option.@@@@1@12@@oe@2-2-2013
22415057@unknown@formal@none@1@S@The cost, or premium, tends to get fat in times of crisis.@@@@1@12@@oe@2-2-2013
22415058@unknown@formal@none@1@S@Thus, buying puts after a big market slide can be an expensive way to hedge against risk.@@@@1@17@@oe@2-2-2013
22415059@unknown@formal@none@1@S@The prices of puts generally didn't soar Friday.@@@@1@8@@oe@2-2-2013
22415060@unknown@formal@none@1@S@For example, the premium as a percentage of the stock price for certain puts on Eli Lilly & Co. moved up from 3% at Thursday's close to only 3.3% at Friday's close, even though the shares dropped more than $5.50.@@@@1@40@@oe@2-2-2013
22415061@unknown@formal@none@1@S@But put-option prices may zoom when trading resumes today.@@@@1@9@@oe@2-2-2013
22415062@unknown@formal@none@1@S@It's hard to generalize about a reasonable price for puts.@@@@1@10@@oe@2-2-2013
22415063@unknown@formal@none@1@S@But investors should keep in mind, before paying too much, that the average annual return for stock holdings, long-term, is 9% to 10% a year; a return of 15% is considered praiseworthy.@@@@1@32@@oe@2-2-2013
22415064@unknown@formal@none@1@S@Paying, say, 10% for insurance against losses takes a deep bite out of the return.@@@@1@15@@oe@2-2-2013
22415065@unknown@formal@none@1@S@James A. White and Tom Herman contributed to this article.@@@@1@10@@oe@2-2-2013
22416001@unknown@formal@none@1@S@Coldwell Banker Commercial Group said it sold $47 million of common stock to its employees at $10 a share, giving them a total stake of more than 40% in the commercial real estate brokerage firm.@@@@1@35@@oe@2-2-2013
22416002@unknown@formal@none@1@S@The firm, which was acquired in April from Sears, Roebuck & Co. in a management-led buy-out, had planned to sell up to $56.4 million of stock, or a 50% stake in the company, to its 5,000 employees.@@@@1@37@@oe@2-2-2013
22416003@unknown@formal@none@1@S@Though the offering didn't sell out, James J. Didion, chairman and chief executive officer, said, "We're pretty proud of the employees' response."@@@@1@22@@oe@2-2-2013
22416004@unknown@formal@none@1@S@He noted that unlike an employee stock ownership plan, where a company usually borrows money from third party lenders to buy stock that it sets aside to award employees over time, here employees had to fork out their own cash for the stock.@@@@1@43@@oe@2-2-2013
22416005@unknown@formal@none@1@S@"They came up with their own money instead of borrowed money," Mr. Didion said.@@@@1@14@@oe@2-2-2013
22416006@unknown@formal@none@1@S@"It's totally different."@@@@1@3@@oe@2-2-2013
22416007@unknown@formal@none@1@S@He said the offering was designed to create long-term incentives for employees.@@@@1@12@@oe@2-2-2013
22416008@unknown@formal@none@1@S@"We're in a service business, and in that context, it's vital to have your employees involved in the ownership so they have a stake in the success."@@@@1@27@@oe@2-2-2013
22416009@unknown@formal@none@1@S@The brokerage firm won't pay a dividend on the stock.@@@@1@10@@oe@2-2-2013
22416010@unknown@formal@none@1@S@Employees have the right to trade stock among themselves, and the company will establish an internal clearing house for these transactions.@@@@1@21@@oe@2-2-2013
22416011@unknown@formal@none@1@S@They may also eventually sell the shares to third parties, but the outside investors who own the remaining 60% of Coldwell Banker have the right to first refusal.@@@@1@28@@oe@2-2-2013
22416012@unknown@formal@none@1@S@Those outside investors in Coldwell Banker include Carlyle Group, a closely held Washington, D.C., merchant banking firm whose co-chairman is Frank Carlucci, former secretary of defense; Frederic V. Malek, senior adviser to Carlyle Group; Mellon Family Trust of Pittsburgh; Westinghouse Credit Corp., the financial services unit of Westinghouse Electric Corp.; Bankers Trust Co., a unit of Bankers Trust New York Corp.; and a group of Japanese investors represented by the investment banking unit of Tokyo-based Sumitomo Bank.@@@@1@77@@oe@2-2-2013
22416013@unknown@formal@none@1@S@Bankers Trust and Sumitomo financed the $300 million acquisition from Sears Roebuck.@@@@1@12@@oe@2-2-2013
22416014@unknown@formal@none@1@S@Coldwell Banker also named three outside director nominees for its 17 member board.@@@@1@13@@oe@2-2-2013
22416015@unknown@formal@none@1@S@The nominees are Gary Wilson, chief financial officer of Walt Disney Co.; James Montgomery, chief executive officer of Great Western Financial Corp.; and Peter Ubberroth, former commissioner of baseball and now a private investor.@@@@1@34@@oe@2-2-2013
22417001@unknown@formal@none@1@S@The first major event this morning in U.S. stock and futures trading may be a pause at the Chicago Mercantile Exchange.@@@@1@21@@oe@2-2-2013
22417002@unknown@formal@none@1@S@Under a reform arising from the 1987 crash, trading in the Merc's stock-index futures will break for 10 minutes if the contract opens and stays five points from Friday's close, a move equal to 40 points on the Dow Jones Industrial Average.@@@@1@42@@oe@2-2-2013
22417003@unknown@formal@none@1@S@The aim of the interruption would be to ease the opening of the New York Stock Exchange, which would be hammered by such a volatile move on the Merc.@@@@1@29@@oe@2-2-2013
22417004@unknown@formal@none@1@S@That early-morning breather is just one of a number of safeguards adopted after the 1987 crash.@@@@1@16@@oe@2-2-2013
22417005@unknown@formal@none@1@S@The Big Board also added computer capacity to handle huge surges in trading volume.@@@@1@14@@oe@2-2-2013
22417006@unknown@formal@none@1@S@Several of those post-crash changes kicked in during Friday's one-hour collapse and worked as expected, even though they didn't prevent a stunning plunge.@@@@1@23@@oe@2-2-2013
22417007@unknown@formal@none@1@S@But the major "circuit breakers" have yet to be evaluated.@@@@1@10@@oe@2-2-2013
22417008@unknown@formal@none@1@S@A deeper market plunge today could give them their first test.@@@@1@11@@oe@2-2-2013
22417009@unknown@formal@none@1@S@A further slide also would resurrect debate over a host of other, more sweeping changes proposed -- but not implemented -- after the last crash.@@@@1@25@@oe@2-2-2013
22417010@unknown@formal@none@1@S@Most notably, several of the regulatory steps recommended by the Brady Task Force, which analyzed the 1987 crash, would be revived -- especially because that group's chairman is now the Treasury secretary.@@@@1@32@@oe@2-2-2013
22417011@unknown@formal@none@1@S@The most controversial of the Brady recommendations involved establishing a single overarching regulator to handle crucial cross-market questions, such as setting consistent margin requirements for the stock and futures markets.@@@@1@30@@oe@2-2-2013
22417012@unknown@formal@none@1@S@But for the moment, attention focuses on the reforms that were put into place, and market regulators and participants said the circuit breakers worked as intended.@@@@1@26@@oe@2-2-2013
22417013@unknown@formal@none@1@S@Big Board and Merc officials expressed satisfaction with the results of two limits imposed on of the Merc's Standard & Poor's 500 contract, as well as "hot-line" communications among exchanges.@@@@1@30@@oe@2-2-2013
22417014@unknown@formal@none@1@S@Those pauses -- from 2:07 p.m. to 2:30 p.m. CDT and from 2:45 p.m. until the close of trading a half-hour later -- forced traders to buy and sell contracts at prices at or higher than their frozen levels.@@@@1@39@@oe@2-2-2013
22417015@unknown@formal@none@1@S@During the first halt, after the S&P index had fallen 12 points, the Big Board's "Sidecar" computer program automatically was triggered.@@@@1@21@@oe@2-2-2013
22417016@unknown@formal@none@1@S@That system is designed to separate computer-generated program trades from all other trades to help exchange officials resolve order imbalances in individual stocks.@@@@1@23@@oe@2-2-2013
22417017@unknown@formal@none@1@S@One Merc broker compared the action in the S&P pit during the two freezes to a fire at a well-drilled school.@@@@1@21@@oe@2-2-2013
22417018@unknown@formal@none@1@S@"You don't want the fire but you know what to do," said Howard Dubnow, an independent floor broker and a Merc governor.@@@@1@22@@oe@2-2-2013
22417019@unknown@formal@none@1@S@"There was no panic.@@@@1@4@@oe@2-2-2013
22417020@unknown@formal@none@1@S@The system worked the way we devised it to work."@@@@1@10@@oe@2-2-2013
22417021@unknown@formal@none@1@S@After reopening for about 15 minutes, the S&P index tumbled to its 30-point limit and the second freeze went into effect.@@@@1@21@@oe@2-2-2013
22417022@unknown@formal@none@1@S@Traders then spent the last half-hour "watching to see if the Dow would drop 250 points," Mr. Dubnow added, referring to the level at which the stock market itself would have closed for an hour.@@@@1@35@@oe@2-2-2013
22417023@unknown@formal@none@1@S@One observer estimated that 80% to 90% of the S&P traders "were just standing around watching."@@@@1@16@@oe@2-2-2013
22417024@unknown@formal@none@1@S@But the 250-point circuit breaker never had to kick in, and freezes on the Chicago Board of Trade's Major Market Index also weren't triggered.@@@@1@24@@oe@2-2-2013
22417025@unknown@formal@none@1@S@The MMI and the S&P 500 are the two major indexes used by program traders to run their computerized trading strategies.@@@@1@21@@oe@2-2-2013
22417026@unknown@formal@none@1@S@The programs are considered by many to be a major cause of the 1987 crash.@@@@1@15@@oe@2-2-2013
22417027@unknown@formal@none@1@S@The process of post-crash reforms began with calls to remake the markets and wound up a year later with a series of rather technical adjustments.@@@@1@25@@oe@2-2-2013
22417028@unknown@formal@none@1@S@In October 1987, just after the market drop, Washington was awash in talk of sweeping changes in the way the financial markets are structured and regulated.@@@@1@26@@oe@2-2-2013
22417029@unknown@formal@none@1@S@Over the next year that grand agenda was whittled down to a series of steps to soften big stock drops by interrupting trading to give market players time to pause and reconsider positions.@@@@1@33@@oe@2-2-2013
22417030@unknown@formal@none@1@S@In addition, limits were placed on computer-driven trading, and steps were taken to better link the stock and futures markets.@@@@1@20@@oe@2-2-2013
22417031@unknown@formal@none@1@S@Few changes were made in the way the markets are regulated.@@@@1@11@@oe@2-2-2013
22417032@unknown@formal@none@1@S@At the outset the prime target was program trading, which was much discussed but little understood on Capitol Hill.@@@@1@19@@oe@2-2-2013
22417033@unknown@formal@none@1@S@There were also calls to strip the stock markets of "derivative" products, such as stock-index futures and options, which Federal Judge Stanley Sporkin, for example, likened to "barnacles attached to the basic market."@@@@1@33@@oe@2-2-2013
22417034@unknown@formal@none@1@S@And there was much criticism of the New York Stock Exchange's system of having stock trades flow through specialists, or market makers.@@@@1@22@@oe@2-2-2013
22417035@unknown@formal@none@1@S@When the Brady Task Force's powerful analysis of the crash was released in January 1988, it immediately reshaped the reformers' agenda.@@@@1@21@@oe@2-2-2013
22417036@unknown@formal@none@1@S@Arguing that the separate financial marketplaces acted as one, and concluding that the crash had "raised the possibility of a full-scale financial system breakdown," the presidential task force called for establishing a super-regulator to oversee the markets, to make margins consistent across markets, to unify clearing systems and to install circuit breakers.@@@@1@52@@oe@2-2-2013
22417037@unknown@formal@none@1@S@Only the last of those recommendations ever was implemented.@@@@1@9@@oe@2-2-2013
22417038@unknown@formal@none@1@S@The Reagan White House held the Brady recommendations at arm's length and named a second panel -- the Working Group on the Financial Markets -- to review its analysis and those of other crash studies.@@@@1@35@@oe@2-2-2013
22417039@unknown@formal@none@1@S@In May 1988, the Working Group, made up of representatives from the Federal Reserve, the Treasury, the Securities and Exchange Commission, and the Commodity Futures Trading Commission, finally endorsed only circuit breakers.@@@@1@32@@oe@2-2-2013
22417040@unknown@formal@none@1@S@After several more months of arguments among various stock exchanges and futures markets, circuit breakers were set in place, with the most notable suspending trading after 250 and 400 point drops in the Dow Jones Industrial Average.@@@@1@37@@oe@2-2-2013
22417041@unknown@formal@none@1@S@Privately, some free marketeers dismissed such mechanisms as sops to interventionists.@@@@1@11@@oe@2-2-2013
22417042@unknown@formal@none@1@S@After all, this free-market argument went, the Dow only dropped more than 250 points once this century.@@@@1@17@@oe@2-2-2013
22417043@unknown@formal@none@1@S@"Circuit breakers" set to soften big drops:@@@@1@7@@oe@2-2-2013
22417044@unknown@formal@none@1@S@-- If S&P futures fall 5 points at opening, contract trading pauses for 10 minutes.@@@@1@15@@oe@2-2-2013
22417045@unknown@formal@none@1@S@-- If Dow Industrials fall 25 points at opening, contract trading pauses for 10 minutes.@@@@1@15@@oe@2-2-2013
22417046@unknown@formal@none@1@S@-- If S&P futures fall 12 points (equivalent to about 100 points on DJIA), trading is frozen for half hour to that price or higher.@@@@1@25@@oe@2-2-2013
22417047@unknown@formal@none@1@S@On NYSE program trades are diverted into a separate computer file to determine buy and sell orders.@@@@1@17@@oe@2-2-2013
22417048@unknown@formal@none@1@S@-- If S&P futures fall 30 points, trading is restricted for an hour to that price or higher.@@@@1@18@@oe@2-2-2013
22417049@unknown@formal@none@1@S@-- If Dow Industrials fall 250 points, trading on the Big Board halts for an hour.@@@@1@16@@oe@2-2-2013
22417050@unknown@formal@none@1@S@S&P and MMI contracts also halt.@@@@1@6@@oe@2-2-2013
22417051@unknown@formal@none@1@S@-- If DJIA drops 400 points, Big Board halts trading for two hours.@@@@1@13@@oe@2-2-2013
22417052@unknown@formal@none@1@S@Trading in MMI and S&P futures also halted.@@@@1@8@@oe@2-2-2013
22417053@unknown@formal@none@1@S@Brady Task Force recommendations (Jan. 1988):@@@@1@6@@oe@2-2-2013
22417054@unknown@formal@none@1@S@-- Establish an overarching regulator for financial markets@@@@1@8@@oe@2-2-2013
22417055@unknown@formal@none@1@S@-- Unify trade-clearing systems@@@@1@4@@oe@2-2-2013
22417056@unknown@formal@none@1@S@-- Make margins consistent across stock and futures markets@@@@1@9@@oe@2-2-2013
22417057@unknown@formal@none@1@S@SEC proposals (May 1988):@@@@1@4@@oe@2-2-2013
22417058@unknown@formal@none@1@S@-- Require prompt reports of large securities trades.@@@@1@8@@oe@2-2-2013
22417059@unknown@formal@none@1@S@-- Give SEC authority to monitor risk-taking by affiliates of brokerage firms.@@@@1@12@@oe@2-2-2013
22417060@unknown@formal@none@1@S@-- Transfer jurisdiction over stock-related futures to SEC from CFTC.@@@@1@10@@oe@2-2-2013
22417061@unknown@formal@none@1@S@(Opposed by new SEC chairman)@@@@1@5@@oe@2-2-2013
22417062@unknown@formal@none@1@S@-- Give SEC authority to halt securities trading, (also opposed by new SEC chairman).@@@@1@14@@oe@2-2-2013
22417063@unknown@formal@none@1@S@Congressional proposal:@@@@1@2@@oe@2-2-2013
22417064@unknown@formal@none@1@S@-- Create a task force to review current state of the securities markets and securities laws.@@@@1@16@@oe@2-2-2013
22417065@unknown@formal@none@1@S@Breaking the Soviet government's television monopoly, an independent company has gained rights to show world programming, including American films.@@@@1@19@@oe@2-2-2013
22417066@unknown@formal@none@1@S@"There must not be a monopoly, there must be freedom of choice for both journalists and viewers," Nikolai I. Lutsenko, the president of the Nika TV company, told the weekly newspaper Nedelya.@@@@1@32@@oe@2-2-2013
22417067@unknown@formal@none@1@S@The company is already working on its own programming in several provincial cities and hopes to be on the air regularly in about a year, the newspaper said.@@@@1@28@@oe@2-2-2013
22417068@unknown@formal@none@1@S@Mr. Lutsenko told Nedelya that he recently had been to the U.S. to pick up the rights to show 5,000 U.S. films in the Soviet Union.@@@@1@26@@oe@2-2-2013
22417069@unknown@formal@none@1@S@Nedelya's article was accompanied by a picture of Mr. Lutsenko interviewing singer John Denver in Colorado.@@@@1@16@@oe@2-2-2013
22417070@unknown@formal@none@1@S@Even though it will be independent of official television, Nika will have an oversight board that will include members of the Communist youth league.@@@@1@24@@oe@2-2-2013
22417071@unknown@formal@none@1@S@South Africa's National Union of Mineworkers said that about 10,000 diamond miners struck for higher wages at De Beers Consolidated Mines Ltd.@@@@1@22@@oe@2-2-2013
22417072@unknown@formal@none@1@S@De Beers said that workers at five of the group's mines were on strike, which it said was peaceful, with orderly picketing occurring at one of the mines.@@@@1@28@@oe@2-2-2013
22417073@unknown@formal@none@1@S@The deadlock in negotiations occurred with De Beers offering a 17% increase in the minimum-wage category while the union demanded a 37.6% increase in the minimum wage.@@@@1@27@@oe@2-2-2013
22417074@unknown@formal@none@1@S@Japan's opposition Socialist Party denied that its legislators had been bribed by pinball-parlor owners.@@@@1@14@@oe@2-2-2013
22417075@unknown@formal@none@1@S@The allegation had been raised in Parliament by the governing Liberal Democratic Party following magazine reports suggesting that money from Japanese-style pinball, called pachinko, had infiltrated politics.@@@@1@27@@oe@2-2-2013
22417076@unknown@formal@none@1@S@Tsuruo Yamaguchi, secretary general of the Socialist Party, acknowledged that nine party lawmakers had received donations from the pachinko association totaling 8 million yen (about $55,000) but said the donations were legal and none of its members acted to favor the industry.@@@@1@42@@oe@2-2-2013
22417077@unknown@formal@none@1@S@The World Wide Fund for Nature said that Spain, Argentina, Thailand and Indonesia were doing too little to prevent illegal trade in endangered wildlife across their borders.@@@@1@27@@oe@2-2-2013
22417078@unknown@formal@none@1@S@A report by the conservation group presented at the U.N.-sponsored Convention on International Trade in Endangered Species in Lausanne accused the four of trading protected species ranging from parakeets to orchids.@@@@1@31@@oe@2-2-2013
22417079@unknown@formal@none@1@S@Fund official Simon Lyster said world trade in wildlife was estimated to total $5 billion of business annually.@@@@1@18@@oe@2-2-2013
22417080@unknown@formal@none@1@S@A NATO project to build a frigate for the 1990s was torpedoed by the pull-out of three of its eight participating nations.@@@@1@22@@oe@2-2-2013
22417081@unknown@formal@none@1@S@Britain, France and Italy announced technical reasons for withdrawing, but some officials pointed to growing reluctance among the allies to commit themselves to big defense spending while East-West disarmament talks show signs of success.@@@@1@34@@oe@2-2-2013
22417082@unknown@formal@none@1@S@Small wonder that Britain's Labor Party wants credit controls.@@@@1@9@@oe@2-2-2013
22417083@unknown@formal@none@1@S@A few hours after the party launched its own affinity credit card earlier this month, the Tories raised the nation's base interest rate.@@@@1@23@@oe@2-2-2013
22417084@unknown@formal@none@1@S@Labor's Visa card is believed to be the first linked to a British political party.@@@@1@15@@oe@2-2-2013
22417085@unknown@formal@none@1@S@Labor gets 25 pence (39 cents) for every 100 (about $155) that a user charges to the card.@@@@1@18@@oe@2-2-2013
22417086@unknown@formal@none@1@S@As with other plastic in Britain's high-interest-rate environment, the Labor card, administered by Co-operative Bank, carries a stiff (in this case, 29.8%) annual rate on the unpaid balance.@@@@1@28@@oe@2-2-2013
22417087@unknown@formal@none@1@S@China's year-long austerity program has achieved some successes in harnessing runaway economic growth and stabilizing prices but has failed to eliminate serious defects in state planning and an alarming drain on state budgets.@@@@1@33@@oe@2-2-2013
22417088@unknown@formal@none@1@S@The official China Daily said retail prices of non-staple foods haven't risen since last December but acknowledged that huge government subsidies were a main factor in keeping prices down.@@@@1@29@@oe@2-2-2013
22417089@unknown@formal@none@1@S@The State Statistical Bureau found that more than 1 billion yuan ($270 million) was spent in the first half of the year for pork subsidies.@@@@1@25@@oe@2-2-2013
22417090@unknown@formal@none@1@S@The newspaper quoted experts as saying the subsidies would cause the difference between prices and real values of commodities to "become very unreasonable" and reduce needed funds for investment in the "already difficult state budget."@@@@1@35@@oe@2-2-2013
22417091@unknown@formal@none@1@S@The aim of the austerity measures was to slice economic growth, which soared to 20.7% last year, to 8% in 1990.@@@@1@21@@oe@2-2-2013
22417092@unknown@formal@none@1@S@Economists now predict the growth rate will be about 11.5% for the year.@@@@1@13@@oe@2-2-2013
22417093@unknown@formal@none@1@S@In a sign of growing official tolerance for religion, Russian Orthodox priests were allowed to celebrate the 400th anniversary of the Moscow patriarchate in the Kremlin's 15th-century Uspensky Cathedral, where czars were crowned. . . .@@@@1@36@@oe@2-2-2013
22417094@unknown@formal@none@1@S@A 34-foot-tall, $7.7 million statue of Buddha was completed on a hill outside Hong Kong, facing China.@@@@1@17@@oe@2-2-2013
22417095@unknown@formal@none@1@S@The statue is the brainchild of Sik Chi Wan, director of the Po Lin Monastery, who said: "Hong Kong is such a prosperous place, we also need some kind of religious symbol.@@@@1@32@@oe@2-2-2013
22418001@unknown@formal@none@1@S@It all seemed innocent enough: Last April, one Steven B. Iken visited Justin Products Inc. here, identified himself as a potential customer and got the word on the little company's new cassette players for children.@@@@1@35@@oe@2-2-2013
22418002@unknown@formal@none@1@S@"It is almost identical to the Sony product," Mr. Iken remarked, after seeing prototypes and pictures.@@@@1@16@@oe@2-2-2013
22418003@unknown@formal@none@1@S@Replied a Justin salesman: "Exactly."@@@@1@5@@oe@2-2-2013
22418004@unknown@formal@none@1@S@The Justin merchandise carried wholesale prices some 40% below those of Sony Corp. of Japan's "My First Sony" line.@@@@1@19@@oe@2-2-2013
22418005@unknown@formal@none@1@S@The visitor waxed enthusiastic and promised to return.@@@@1@8@@oe@2-2-2013
22418006@unknown@formal@none@1@S@But instead of a new customer -- part of a hoped-for bonanza from underselling Sony -- Justin got a costly legal morass.@@@@1@22@@oe@2-2-2013
22418007@unknown@formal@none@1@S@Mr. Iken, it turned out, was a private detective using a hidden tape recorder to gather information for Sony.@@@@1@19@@oe@2-2-2013
22418008@unknown@formal@none@1@S@His recording later turned up as a court exhibit.@@@@1@9@@oe@2-2-2013
22418009@unknown@formal@none@1@S@Seeking to keep Justin's "My Own" product line off the U.S. market, Sony last May filed a suit in Manhattan federal court accusing the upstart of trademark infringement, unfair competition and other violations of business law.@@@@1@36@@oe@2-2-2013
22418010@unknown@formal@none@1@S@Since then, life has changed a lot for 61-year-old Leonard Kaye, Justin's owner.@@@@1@13@@oe@2-2-2013
22418011@unknown@formal@none@1@S@"I haven't been able to get a decent night's sleep since this has been going on," he says.@@@@1@18@@oe@2-2-2013
22418012@unknown@formal@none@1@S@"It's the most distracting thing in my life -- I can't even attend to my business."@@@@1@16@@oe@2-2-2013
22418013@unknown@formal@none@1@S@His company (annual sales: about $25 million) may suffer a costly blow -- losing an estimated 10% of total sales -- if Sony (annual sales: about $16 billion) prevails.@@@@1@29@@oe@2-2-2013
22418014@unknown@formal@none@1@S@Justin's plight shows what can happen when a tiny company suddenly faces the full legal might of a wrathful multinational.@@@@1@20@@oe@2-2-2013
22418015@unknown@formal@none@1@S@With considerable irony, the case also shows how completely Japan has turned the tables on U.S. business.@@@@1@17@@oe@2-2-2013
22418016@unknown@formal@none@1@S@Americans used to complain bitterly about being undersold by look-alike products from Japan.@@@@1@13@@oe@2-2-2013
22418017@unknown@formal@none@1@S@Now Sony, whose innovative, premium-priced products are among the most admired in consumer electronics, is bitterly complaining about a little U.S. firm with a cheap look-alike produced in China.@@@@1@29@@oe@2-2-2013
22418018@unknown@formal@none@1@S@"The gist of this is that Justin knocked off the Sony line and Sony wants to stop it," says Lewis H. Eslinger, Sony's attorney, who previously guarded Rubik's Cube.@@@@1@29@@oe@2-2-2013
22418019@unknown@formal@none@1@S@(Sony itself declines to comment.)@@@@1@5@@oe@2-2-2013
22418020@unknown@formal@none@1@S@If Sony wins, Mr. Eslinger says, its little rival will have to try to sell the products overseas.@@@@1@18@@oe@2-2-2013
22418021@unknown@formal@none@1@S@At worst, he adds, "They'd have to grind them all up and throw them away."@@@@1@15@@oe@2-2-2013
22418022@unknown@formal@none@1@S@Mr. Kaye denies the suit's charges and says his only mistake was taking on Sony in the marketplace.@@@@1@18@@oe@2-2-2013
22418023@unknown@formal@none@1@S@"I made a similar line and I produced it cheaper," he says.@@@@1@12@@oe@2-2-2013
22418024@unknown@formal@none@1@S@Today, U.S. Judge John E. Sprizzo is expected to rule on Sony's renewed request for a pre-trial order blocking sale of the disputed products, on which deliveries began in July.@@@@1@30@@oe@2-2-2013
22418025@unknown@formal@none@1@S@The judge turned down an earlier Sony request for such an order -- a decision upheld on appeal -- but Sony returned with additional evidence and arguments.@@@@1@27@@oe@2-2-2013
22418026@unknown@formal@none@1@S@Though hoping to settle the case, Justin vows to fight on, if necessary.@@@@1@13@@oe@2-2-2013
22418027@unknown@formal@none@1@S@But the battle is more than Justin bargained for.@@@@1@9@@oe@2-2-2013
22418028@unknown@formal@none@1@S@"I had no idea I was getting in so deep," says Mr. Kaye, who founded Justin in 1982.@@@@1@18@@oe@2-2-2013
22418029@unknown@formal@none@1@S@Mr. Kaye had sold Capetronic Inc., a Taiwan electronics maker, and retired, only to find he was bored.@@@@1@18@@oe@2-2-2013
22418030@unknown@formal@none@1@S@With Justin, he began selling toys and electronics made mostly in Hong Kong, beginning with Mickey Mouse radios.@@@@1@18@@oe@2-2-2013
22418031@unknown@formal@none@1@S@The company has grown -- to about 40 employees, from four initially, Mr. Kaye says.@@@@1@15@@oe@2-2-2013
22418032@unknown@formal@none@1@S@Justin has been profitable since 1986, adds the official, who shares his office with numerous teddy bears, all samples from his line of plush toys.@@@@1@25@@oe@2-2-2013
22418033@unknown@formal@none@1@S@Like many others, Mr. Kaye took notice in 1987 when Sony, in a classic example of market segmentation, changed the plastic skin and buttons on the famous Walkman line of portable audio equipment and created the My First Sony line for children.@@@@1@42@@oe@2-2-2013
22418034@unknown@formal@none@1@S@The brightly colored new products looked more like toys than the adult models.@@@@1@13@@oe@2-2-2013
22418035@unknown@formal@none@1@S@(In court papers, Sony says it has spent more than $3 million to promote the line, with resulting sales of over a million units.)@@@@1@24@@oe@2-2-2013
22418036@unknown@formal@none@1@S@Sony found a new market niche, but Mr. Kaye figured that its prices left plenty of room for a lower-priced competitor.@@@@1@21@@oe@2-2-2013
22418037@unknown@formal@none@1@S@His products aren't exact copies of Sony's but strongly resemble them in size, shape and, especially, color.@@@@1@17@@oe@2-2-2013
22418038@unknown@formal@none@1@S@Sony uses mostly red and blue, with traces of yellow -- and so does Justin, on the theory that kids prefer these colors.@@@@1@23@@oe@2-2-2013
22418039@unknown@formal@none@1@S@("To be successful, a product can be any color whatsoever, as long as it is fire-engine red," says Charles E. Baxley, Justin's attorney.)@@@@1@23@@oe@2-2-2013
22418040@unknown@formal@none@1@S@By last winter, Justin was showing prototypes at toy fairs in Hong Kong and New York -- and Sony noticed.@@@@1@20@@oe@2-2-2013
22418041@unknown@formal@none@1@S@Indeed, concerned that Sony sales personnel were threatening legal action or other retaliation -- such as withholding desirable Sony products -- against Justin's customers, Mr. Baxley fired off a letter to Sony in April.@@@@1@34@@oe@2-2-2013
22418042@unknown@formal@none@1@S@He himself threatened to take the matter to the Federal Trade Commission or U.S. Justice Department.@@@@1@16@@oe@2-2-2013
22418043@unknown@formal@none@1@S@But Justin hasn't pursued those charges (which were without merit, according to Mr. Eslinger, the Sony attorney).@@@@1@17@@oe@2-2-2013
22418044@unknown@formal@none@1@S@Recalls Mr. Baxley: "Our purpose was to influence them to leave us alone.@@@@1@13@@oe@2-2-2013
22418045@unknown@formal@none@1@S@We never intended taking on Sony -- we don't have the resources."@@@@1@12@@oe@2-2-2013
22418046@unknown@formal@none@1@S@Sony answered the empty threat with its real suit.@@@@1@9@@oe@2-2-2013
22418047@unknown@formal@none@1@S@Off and on since then, the companies have skirmished in court.@@@@1@11@@oe@2-2-2013
22418048@unknown@formal@none@1@S@And Justin, in a news release, says, "Once competitive, Sony now resorts to strong-arm tactics in American courtrooms to carve out and protect niche markets."@@@@1@25@@oe@2-2-2013
22418049@unknown@formal@none@1@S@Sony's lawyer insists that the company's tactics -- including the use of a private detective posing as a buyer -- are routine in such matters.@@@@1@25@@oe@2-2-2013
22418050@unknown@formal@none@1@S@He also insists that Sony, no less than others, has a legal right to protect its "trade dress," in this case, mostly the colors that it claims make My First Sony products distinctive.@@@@1@33@@oe@2-2-2013
22418051@unknown@formal@none@1@S@(Justin claims it began using the same colors on electronic goods for children long before Sony entered the children's market.)@@@@1@20@@oe@2-2-2013
22418052@unknown@formal@none@1@S@Whatever its merits, Sony's aggressive defense is debilitating for Justin.@@@@1@10@@oe@2-2-2013
22418053@unknown@formal@none@1@S@It's also costly.@@@@1@3@@oe@2-2-2013
22418054@unknown@formal@none@1@S@Mr. Kaye says he has paid more than $70,000 in legal fees so far.@@@@1@14@@oe@2-2-2013
22418055@unknown@formal@none@1@S@Of Sony, Mr. Kaye says: "They know there's no way for them to lose.@@@@1@14@@oe@2-2-2013
22418056@unknown@formal@none@1@S@They just keep digging me in deeper until I reach the point where I give up and go away."@@@@1@19@@oe@2-2-2013
22418057@unknown@formal@none@1@S@For now, though, he vows to hang in.@@@@1@8@@oe@2-2-2013
22419001@unknown@formal@none@1@S@\s Charles H. Tenney II, chairman of Unitil Corp., purchased 34,602 shares, or 4.9%, of Unitil's common, according to a filing with the Securities and Exchange Commission.@@@@1@27@@oe@2-2-2013
22419002@unknown@formal@none@1@S@The stock was bought on Thursday in a privately negotiated transaction, the filing said.@@@@1@14@@oe@2-2-2013
22419003@unknown@formal@none@1@S@As previously reported, Unitil, Exeter, N.H., and Fitchburg Gas & Electric Co., Fitchburg, Mass., are targets of unsolicited tender offers from Boston-based Eastern Utilities Associates.@@@@1@25@@oe@2-2-2013
22419004@unknown@formal@none@1@S@Eastern Utilities has offered $40 a share for Unitil and $36 a share for Fitchburg Gas and has extended both offers to Dec. 4.@@@@1@24@@oe@2-2-2013
22419005@unknown@formal@none@1@S@Both companies rejected the offers.@@@@1@5@@oe@2-2-2013
22420001@unknown@formal@none@1@S@Dresdner Bank AG of West Germany has announced a friendly tender offer for control of Banque Internationale de Placements, a French bank whose main shareholder is France's Societe Generale, the Societe de Bourses Francaises said.@@@@1@35@@oe@2-2-2013
22420002@unknown@formal@none@1@S@The tender offer by West Germany's second-biggest commercial bank is in two stages.@@@@1@13@@oe@2-2-2013
22420003@unknown@formal@none@1@S@Dresdner is offering to acquire 32.99% of BIP's capital for 1,015 francs ($156.82) a share.@@@@1@15@@oe@2-2-2013
22420004@unknown@formal@none@1@S@The terms of the offer put a value of 528 million francs ($81.6 million) on the 32.99% shareholding.@@@@1@18@@oe@2-2-2013
22420005@unknown@formal@none@1@S@The Societe Generale banking group controls 18.2% of the shareholding, while Societe Generale de Belgique S.A. owns 9.69% and Financiere Tradition, a holding company, owns 5.1%.@@@@1@26@@oe@2-2-2013
22421001@unknown@formal@none@1@S@Mexican investor Joel Rocha Garza said he sold a block of 600,000 shares of Smith Laboratories Inc. common stock to companies affiliated with him.@@@@1@24@@oe@2-2-2013
22421002@unknown@formal@none@1@S@In a filing with the Securities and Exchange Commission, Mr. Rocha Garza said Biscayne Syndicate Inc., Lahus II Inc., and Lahus III Inc. bought the 600,000 shares on Oct. 11 for $1.4 million, or $2.375 a share.@@@@1@37@@oe@2-2-2013
22421003@unknown@formal@none@1@S@Mr. Rocha Garza said that he, Clarendon Group Ltd., Biscayne, Lahus II, and Lahus III are all affiliated and hold a combined stake of 1,234,100 shares, or 9.33%.@@@@1@28@@oe@2-2-2013
22421004@unknown@formal@none@1@S@Mr. Rocha Garza has said he wants to purchase more shares.@@@@1@11@@oe@2-2-2013
22421005@unknown@formal@none@1@S@In San Diego, Smith Laboratories President Timothy Wollaeger said the transfer of the shares isn't significant.@@@@1@16@@oe@2-2-2013
22422001@unknown@formal@none@1@S@Investcorp, New York, said it and the management of Sports & Recreation Inc. bought the operator of the 10-store Sports Unlimited chain for some $40 million.@@@@1@26@@oe@2-2-2013
22422002@unknown@formal@none@1@S@The investment bank becomes majority shareholder in Sports & Recreation, a 10-year-old sporting goods retailer, said Oliver E. Richardson, a member of Investcorp's management committee and a director of the chain.@@@@1@31@@oe@2-2-2013
22422003@unknown@formal@none@1@S@Sports Unlimited, Tampa, Fla., posted revenue of $59 million for the year ended July 31.@@@@1@15@@oe@2-2-2013
22422004@unknown@formal@none@1@S@The company is "very profitable" on an operating basis, Mr. Richardson said, but he declined to specify numbers.@@@@1@18@@oe@2-2-2013
22422005@unknown@formal@none@1@S@In 1982, Sports & Recreation's managers and certain passive investors purchased the company from Brunswick Corp. of Skokie, Ill.@@@@1@19@@oe@2-2-2013
22422006@unknown@formal@none@1@S@In the latest transaction, management bought out the passive investors' holding, Mr. Richardson said.@@@@1@14@@oe@2-2-2013
22423001@unknown@formal@none@1@S@Hammond Co., Newport Beach, Calif., said Fidelity National Financial Inc. extended its previous agreement, under which it won't purchase any more of the mortgage banker's common stock, through Oct. 31.@@@@1@30@@oe@2-2-2013
22423002@unknown@formal@none@1@S@The previous agreement expired Thursday.@@@@1@5@@oe@2-2-2013
22423003@unknown@formal@none@1@S@Hammond said that its discussions with Fidelity, an Irvine, Calif., title-insurance underwriter, are continuing, but that prospects for a longer-term standstill agreement are uncertain.@@@@1@24@@oe@2-2-2013
22423004@unknown@formal@none@1@S@Fidelity has increased its stake in Hammond to 23.57% in recent months.@@@@1@12@@oe@2-2-2013
22423005@unknown@formal@none@1@S@Statements made in Securities and Exchange Commission filings led Hammond to request a standstill agreement.@@@@1@15@@oe@2-2-2013
22424001@unknown@formal@none@1@S@Giant Group Ltd. said it terminated negotiations for the purchase of Aspen Airways, a Denver-based regional carrier that operates the United Express connector service under contract to UAL Corp.'s United Airlines.@@@@1@31@@oe@2-2-2013
22424002@unknown@formal@none@1@S@Giant, a Beverly Hills, Calif., collection of companies that is controlled by Hollywood producer Burt Sugarman, didn't give a reason for halting its plan to acquire the airline, and Aspen officials couldn't be reached for comment.@@@@1@36@@oe@2-2-2013
22424003@unknown@formal@none@1@S@Giant agreed last month to purchase the carrier.@@@@1@8@@oe@2-2-2013
22424004@unknown@formal@none@1@S@Giant hasn't ever disclosed the proposed price, although Avmark Inc., an Arlington, Va.-based aircraft consulting concern, has valued Aspen's fleet at about $46 million.@@@@1@24@@oe@2-2-2013
22424005@unknown@formal@none@1@S@The airline would have become the latest in a peculiar blend of Giant companies, which are involved in making cement, recycling newsprint and operating fast-food restaurants.@@@@1@26@@oe@2-2-2013
22425001@unknown@formal@none@1@S@The state-controlled insurer Assurances Generales de France said it has obtained regulatory approval to increase its stake in the financial holding company Cie. de Navigation Mixte above 10% from the current level of about 8%.@@@@1@35@@oe@2-2-2013
22425002@unknown@formal@none@1@S@Friday's approval was needed to conform with Bourse rules regarding companies with bank interests and follows a similar approval given Wednesday to Cie. Financiere de Paribas.@@@@1@26@@oe@2-2-2013
22425003@unknown@formal@none@1@S@Both Paribas and AGF have been increasing their stakes in Navigation Mixte recently for what they have termed "investment purposes," although the issue has been surrounded by takeover speculation in recent weeks.@@@@1@32@@oe@2-2-2013
22425004@unknown@formal@none@1@S@AGF didn't comment officially on its reasons for seeking the approval, but people close to the group said it was done to make sure the group would have the flexibility to increase its stake in the future, should interesting price opportunities arise.@@@@1@42@@oe@2-2-2013
22425005@unknown@formal@none@1@S@An AGF official did specify, however, that there was no foundation to recent rumors the group might be acting in concert with Paribas.@@@@1@23@@oe@2-2-2013
22426001@unknown@formal@none@1@S@Lockheed Aeronautical Systems Co., a unit of Lockheed Corp., said it agreed to join with Aermacchi S.p.A. of Varese, Italy, to propose a new generation of jet trainers for the U.S. Air Force.@@@@1@33@@oe@2-2-2013
22426002@unknown@formal@none@1@S@The Air Force is looking to buy 540 new primary jet trainers, with a total value of $1.5 billion to $2 billion, between 1994 and 2004.@@@@1@26@@oe@2-2-2013
22426003@unknown@formal@none@1@S@The aircraft would replace the T-37, made by the Cessna Aircraft Co. unit of General Dynamics Corp., which the Air Force uses to train jet pilots.@@@@1@26@@oe@2-2-2013
22426004@unknown@formal@none@1@S@Lockheed said the U.S. Navy may also buy an additional 340 trainer aircraft to replace its T34C trainers made by the Beech Aircraft Corp. unit of Raytheon Corp.@@@@1@28@@oe@2-2-2013
22426005@unknown@formal@none@1@S@Under the agreement with Lockheed, Aermacchi will license Lockheed to build the Aermacchi MB-339 jet tandem-trainer and will supply certain structures.@@@@1@21@@oe@2-2-2013
22426006@unknown@formal@none@1@S@Lockheed will build additional structures and perform final assembly of the tandem-seat trainer at its Marietta, Ga., plant should the Air Force order the craft.@@@@1@25@@oe@2-2-2013
22426007@unknown@formal@none@1@S@A Lockheed spokesman in Burbank, Calif., said he wasn't aware of which other companies would be competing for the Air Force contract.@@@@1@22@@oe@2-2-2013
22427001@unknown@formal@none@1@S@Striking auto workers ended their 19-day occupation of a metal shop at a Peugeot S.A. factory in eastern France Friday as pay talks got under way in the capital.@@@@1@29@@oe@2-2-2013
22427002@unknown@formal@none@1@S@But the Peugeot breakthrough came as a nationwide dispute by Finance Ministry employees disrupted border checkpoints and threatened the government's ability to pay its bills.@@@@1@25@@oe@2-2-2013
22427003@unknown@formal@none@1@S@The Peugeot metalworkers began filing out of the shop, which makes auto parts, at the plant in Mulhouse after voting 589 to 193 to abandon the occupation.@@@@1@27@@oe@2-2-2013
22427004@unknown@formal@none@1@S@Their withdrawal was based on promises by Peugeot to open negotiations in Paris at the same time the last man left the premises.@@@@1@23@@oe@2-2-2013
22427005@unknown@formal@none@1@S@The strike by customs officers, tax collectors, treasury workers and other civil servants attached to the Ministry of Finance may pose a more serious challenge to the government and the average Frenchman.@@@@1@32@@oe@2-2-2013
22427006@unknown@formal@none@1@S@Ministry employees complain that they are poorly paid because of a complex job-rating system they say fails to take into account their education and level of technical expertise.@@@@1@28@@oe@2-2-2013
22428001@unknown@formal@none@1@S@The market for $200 billion of high-risk junk bonds, battered by a succession of defaults and huge price declines this year, practically vanished Friday.@@@@1@24@@oe@2-2-2013
22428002@unknown@formal@none@1@S@Trading ground to a halt as investors rushed to sell bonds, only to find themselves deserted by potential buyers.@@@@1@19@@oe@2-2-2013
22428003@unknown@formal@none@1@S@Stunned, they watched brokerage houses mark down price quotations on their junk holdings while being able to execute very few actual trades.@@@@1@22@@oe@2-2-2013
22428004@unknown@formal@none@1@S@"The junk bond market is in a state of gridlock now -- there are no bids, only offers," says independent investor Martin D. Sass, who manages nearly $4 billion and who recently decided to buy distressed securities for a new fund.@@@@1@41@@oe@2-2-2013
22428005@unknown@formal@none@1@S@This calamity is "far from over," he says.@@@@1@8@@oe@2-2-2013
22428006@unknown@formal@none@1@S@Junk's collapse helped stoke the panicky selling of stocks that produced the deepest one-day dive in the Dow Jones Industrial Average since the Oct. 19, 1987, crash.@@@@1@27@@oe@2-2-2013
22428007@unknown@formal@none@1@S@Simultaneously, it also helped trigger this year's biggest rally in the U.S. government bond market as investors rushed to move capital into the highest-quality securities they could find.@@@@1@28@@oe@2-2-2013
22428008@unknown@formal@none@1@S@But "an eerie silence pervaded" the junk market Friday as prices tumbled on hundreds of high-yield bonds despite "no active trading," says John Lonski, an economist at Moody's Investors Service Inc.@@@@1@31@@oe@2-2-2013
22428009@unknown@formal@none@1@S@For example, the price of Southland Corp.'s $500 million of 16 3/4% bonds due 2002 -- sold less than two years ago by Goldman, Sachs & Co. -- plummeted 25% to just 30 cents on the dollar.@@@@1@37@@oe@2-2-2013
22428010@unknown@formal@none@1@S@But not even Goldman would make a market in the securities of Southland, the owner of the nationwide chain of 7-11 convenience stores that is strapped for cash.@@@@1@28@@oe@2-2-2013
22428011@unknown@formal@none@1@S@Goldman officials declined to comment.@@@@1@5@@oe@2-2-2013
22428012@unknown@formal@none@1@S@Junk bonds, which mushroomed from less than $2 billion at the start of this decade, have been declining for months as issuer after issuer sank beneath the weight of hefty interest payments.@@@@1@32@@oe@2-2-2013
22428013@unknown@formal@none@1@S@The shaky market received its biggest jolt last month from Campeau Corp., which created its U.S. retailing empire with junk financing.@@@@1@21@@oe@2-2-2013
22428014@unknown@formal@none@1@S@Campeau developed a cash squeeze that caused it to be tardy on some interest payments and to put its prestigious Bloomingdales department-store chain up for sale.@@@@1@26@@oe@2-2-2013
22428015@unknown@formal@none@1@S@Now, dozens of corporations, including Ethan Allen, TW Services and York International, that are counting on at least $7 billion of scheduled new junk financings to keep their highly leveraged takeovers and buy-outs afloat, may never get the money.@@@@1@39@@oe@2-2-2013
22428016@unknown@formal@none@1@S@"The music has stopped playing," says Michael Harkins, a principal in the investment firm of Levy Harkins.@@@@1@17@@oe@2-2-2013
22428017@unknown@formal@none@1@S@"You've either got a chair or you don't."@@@@1@8@@oe@2-2-2013
22428018@unknown@formal@none@1@S@In Friday's aftermath, says R. Douglas Carleton, a director of high-yield finance at First Boston Corp., "much of the $7 billion forward calendar could be deferred, depending on the hysteria."@@@@1@30@@oe@2-2-2013
22428019@unknown@formal@none@1@S@In August, First Boston withdrew a $475 million junk offering of Ohio Mattress bonds because potential buyers were "very skittish."@@@@1@20@@oe@2-2-2013
22428020@unknown@formal@none@1@S@The outlook "looks shaky because we're still waiting" for mutual funds, in particular, to dump some of their junk bond holdings to pay off redemptions by individual investors, says King Penniman, senior vice president at McCarthy, Crisanti & Maffei, an investment arm of Xerox Financial Services.@@@@1@46@@oe@2-2-2013
22428021@unknown@formal@none@1@S@Indeed, a Moody's index that tracks the net asset values of 24 high-yield mutual funds declined for the 17th consecutive day Friday.@@@@1@22@@oe@2-2-2013
22428022@unknown@formal@none@1@S@In a stark contrast, the benchmark 30-year Treasury bond climbed more than 2 1/2 points, or about $25 for each $1,000 face amount, to 103 12/32, its biggest gain of the year.@@@@1@32@@oe@2-2-2013
22428023@unknown@formal@none@1@S@The bond's yield dropped to 7.82%, the lowest since March 31, 1987, according to Technical Data Global Markets Group.@@@@1@19@@oe@2-2-2013
22428024@unknown@formal@none@1@S@The yield on three-month Treasury bills, considered the safest of all investments, plummeted about 0.7 percentage point to 7.16%, the largest one-day decline since 1982.@@@@1@25@@oe@2-2-2013
22428025@unknown@formal@none@1@S@The main catalyst for government bond market rally was the 190.58-point drop in the Dow Jones Industrial Average.@@@@1@18@@oe@2-2-2013
22428026@unknown@formal@none@1@S@"When you get panic in one market, you get flight to quality in the other," said Maria Ramirez, money market economist at Drexel Burnham Lambert Inc.@@@@1@26@@oe@2-2-2013
22428027@unknown@formal@none@1@S@Nevertheless, the problems of the junk market could prompt the Federal Reserve to ease credit in the months ahead.@@@@1@19@@oe@2-2-2013
22428028@unknown@formal@none@1@S@"This marks a significant shift in the interest rate outlook," says William Sullivan, director of money market research at Dean Witter Reynolds Inc., New York.@@@@1@25@@oe@2-2-2013
22428029@unknown@formal@none@1@S@Any sustained credit-easing could be a lift for junk bonds as well as other securities.@@@@1@15@@oe@2-2-2013
22428030@unknown@formal@none@1@S@Robert Dow, a partner and portfolio manager at Lord, Abbett & Co., which manages $4 billion of high-yield bonds, says he doesn't "think there is any fundamental economic rationale {for the junk bond rout}.@@@@1@34@@oe@2-2-2013
22428031@unknown@formal@none@1@S@It was herd instinct."@@@@1@4@@oe@2-2-2013
22428032@unknown@formal@none@1@S@He adds: "The junk market has witnessed some trouble and now some people think that if the equity market gets creamed that means the economy will be terrible and that's bad for junk.@@@@1@33@@oe@2-2-2013
22428033@unknown@formal@none@1@S@I don't believe that's the case, but I believe that people are running scared.@@@@1@14@@oe@2-2-2013
22428034@unknown@formal@none@1@S@There is a flight to quality, and the quality is not in equities and not in junk -- it's in Treasurys."@@@@1@21@@oe@2-2-2013
22428035@unknown@formal@none@1@S@Even as trading in high-yield issues dried up over the past month, corporations sold more than $2 billion of new junk bonds.@@@@1@22@@oe@2-2-2013
22428036@unknown@formal@none@1@S@For example, a recent $375 million offering of Petrolane Gas Services L.P. bonds sold by First Boston was three times oversubscribed.@@@@1@21@@oe@2-2-2013
22428037@unknown@formal@none@1@S@A $550 million offering of Turner Broadcasting System Inc. high-yield securities sold last week by Drexel was increased $50 million because of strong demand.@@@@1@24@@oe@2-2-2013
22428038@unknown@formal@none@1@S@First Boston estimates that in November and December alone, junk bond investors will receive $4.8 billion of coupon interest payments.@@@@1@20@@oe@2-2-2013
22428039@unknown@formal@none@1@S@"That's a clear indication that there is and will be an undercurrent of basic business going on," says Mr. Carleton of First Boston.@@@@1@23@@oe@2-2-2013
22428040@unknown@formal@none@1@S@"I don't know how people can say the junk bond market disappeared when there were $1.5 billion of orders for $550 million of junk bonds sold last week by Turner," says Raymond Minella, co-head of merchant banking at Merrill Lynch & Co.@@@@1@42@@oe@2-2-2013
22428041@unknown@formal@none@1@S@"When the rally comes, insurance companies will be leading it because they have billions to invest and invest they will.@@@@1@20@@oe@2-2-2013
22428042@unknown@formal@none@1@S@There is plenty of money available from people who want to buy well-structured deals; it's the stuff that's financed on a shoestring that people are wary of."@@@@1@27@@oe@2-2-2013
22428043@unknown@formal@none@1@S@But such highly leveraged transactions seemed to have multiplied this year, casting a pall over much of the junk market.@@@@1@20@@oe@2-2-2013
22428044@unknown@formal@none@1@S@Michael McNamara, director of fixed-income research at Kemper Financial Services, says the quality of junk issues has been getting poorer, contributing to the slide in prices.@@@@1@26@@oe@2-2-2013
22428045@unknown@formal@none@1@S@"Last year we probably bought one out of every three new deals," he says.@@@@1@14@@oe@2-2-2013
22428046@unknown@formal@none@1@S@"This year, at best, it's in one in every five or six.@@@@1@12@@oe@2-2-2013
22428047@unknown@formal@none@1@S@And our credit standards haven't changed one iota."@@@@1@8@@oe@2-2-2013
22428048@unknown@formal@none@1@S@However, Mr. McNamara said the slide in junk is creating "one hell of a buying opportunity" for selective buyers.@@@@1@19@@oe@2-2-2013
22428049@unknown@formal@none@1@S@For the moment, investors seem more preoccupied with the "bad" junk than the "good" junk.@@@@1@15@@oe@2-2-2013
22428050@unknown@formal@none@1@S@"The market has been weak since" the announcement of the Campeau cash squeeze and the company's subsequent bailout by Olympia & York, says Mr. Minella of Merrill Lynch.@@@@1@28@@oe@2-2-2013
22428051@unknown@formal@none@1@S@"That really affected the market in that people started to ask 'What else is in trouble?'"@@@@1@16@@oe@2-2-2013
22428052@unknown@formal@none@1@S@Well before Campeau, though, there were signs that the junk market was stumbling through one of its worst years ever.@@@@1@20@@oe@2-2-2013
22428053@unknown@formal@none@1@S@Despite the relatively strong economy, junk bond prices did nothing except go down, hammered by a seemingly endless trail of bad news:@@@@1@22@@oe@2-2-2013
22428054@unknown@formal@none@1@S@-- In June, two months before it would default on interest payments covering some of its $1.2 billion of speculative debt securities, New York-based Integrated Resources Inc. said it ran out of borrowed money.@@@@1@34@@oe@2-2-2013
22428055@unknown@formal@none@1@S@-- In July, Southmark Corp., the Dallas-based real estate and financial services company with about $1.3 billion of junk bonds, voluntarily filed for protection under U.S. bankruptcy law.@@@@1@28@@oe@2-2-2013
22428056@unknown@formal@none@1@S@-- By the end of July, the difference in yield between an index of junk bonds and seven-year Treasury notes widened to more than 5.5 percentage points.@@@@1@27@@oe@2-2-2013
22428057@unknown@formal@none@1@S@-- In August, Resorts International Inc., which sold more than $500 million of junk bonds, suspended interest payments.@@@@1@18@@oe@2-2-2013
22428058@unknown@formal@none@1@S@-- In September, just as the cash squeeze hit Campeau, Lomas Financial Corp. defaulted on $145 million of notes and appeared unlikely to pay interest on a total of $1.2 billion of debt securities.@@@@1@34@@oe@2-2-2013
22428059@unknown@formal@none@1@S@Meantime, regulators are becoming increasingly worried as the rush to leverage shows no signs of abating.@@@@1@16@@oe@2-2-2013
22428060@unknown@formal@none@1@S@Moody's says the frequency of corporate credit downgrades is the highest this year since 1982.@@@@1@15@@oe@2-2-2013
22428061@unknown@formal@none@1@S@In addition, there are six times as many troubled banks as there were in the recession of 1981, according to the Federal Deposit Insurance Corp.@@@@1@25@@oe@2-2-2013
22428062@unknown@formal@none@1@S@"The era of the 1980s is about compound interest and the reaching for it," says James Grant, editor of Grant's Interest Rate Observer, an early critic of the junk bond market.@@@@1@31@@oe@2-2-2013
22428063@unknown@formal@none@1@S@"What we've begun to see is the damage to businesses of paying exorbitant compound interest.@@@@1@15@@oe@2-2-2013
22428064@unknown@formal@none@1@S@Businesses were borrowing at interest rates higher than their own earnings.@@@@1@11@@oe@2-2-2013
22428065@unknown@formal@none@1@S@What we're seeing now is the wrenching readjustment of asset values to a future when speculative-grade debt will be hard to obtain rather than easy."@@@@1@25@@oe@2-2-2013
22428066@unknown@formal@none@1@S@Friday's Market Activity@@@@1@3@@oe@2-2-2013
22428067@unknown@formal@none@1@S@Prices of Treasury bonds surged in the biggest rally of the year as investors fled a plummeting stock market.@@@@1@19@@oe@2-2-2013
22428068@unknown@formal@none@1@S@The benchmark 30-year Treasury bond was quoted 6 p.m. EDT at 103 12/32, compared with 100 27/32 Thursday, up 2 1/2 points.@@@@1@22@@oe@2-2-2013
22428069@unknown@formal@none@1@S@The yield on the benchmark fell to 7.82%, the lowest since March 31, 1987, according to Technical Data Global Markets Group.@@@@1@21@@oe@2-2-2013
22428070@unknown@formal@none@1@S@The "flight to quality" began late in the day and followed a precipitous fall in the stock market.@@@@1@18@@oe@2-2-2013
22428071@unknown@formal@none@1@S@Treasurys opened lower, reacting negatively to news that the producer price index -- a measure of inflation on the wholesale level -- accelerated in September.@@@@1@25@@oe@2-2-2013
22428072@unknown@formal@none@1@S@Bond prices barely budged until midday.@@@@1@6@@oe@2-2-2013
22428073@unknown@formal@none@1@S@Many bond market participants will be closely eying the action of the Federal Reserve, which might repeat its October 1987 injection of huge amounts of liquidity to buoy the financial markets and keep the economy from slowing into a recession.@@@@1@40@@oe@2-2-2013
22428074@unknown@formal@none@1@S@Prices of municipals, investment-grade corporates and mortgage-backed bonds also rose, but lagged behind their Treasury counterparts.@@@@1@16@@oe@2-2-2013
22428075@unknown@formal@none@1@S@Mortgage securities rose in hectic trading, with most of the activity concentrated in Government National Mortgage Association 9% coupon securities, the most liquid mortgage issue.@@@@1@25@@oe@2-2-2013
22428076@unknown@formal@none@1@S@The Ginnie Mae November 9% issue ended at 98 25/32, up 7/8 point on the day, to yield about 9.28% to a 12-year average life assumption.@@@@1@26@@oe@2-2-2013
22428077@unknown@formal@none@1@S@Investment-grade corporate bonds were up about 1/2 to 3/4 point.@@@@1@10@@oe@2-2-2013
22428078@unknown@formal@none@1@S@But the yield spread between lower-quality, investment-grade issues and higher-quality bonds widened.@@@@1@12@@oe@2-2-2013
22428079@unknown@formal@none@1@S@And the yields on telephone and utility issues rose relative to other investment-grade bonds in anticipation of this week's $3 billion bond offering by the Tennessee Valley Authority.@@@@1@28@@oe@2-2-2013
22428080@unknown@formal@none@1@S@Despite rumors that the TVA's long-awaited offering would be postponed because of the debacle in the equity markets, sources in the underwriting syndicate said they expect the issue will be priced as scheduled.@@@@1@33@@oe@2-2-2013
22428081@unknown@formal@none@1@S@One of the sources said the smaller portions of $750 million each of five-year and 10-year bonds have already been "substantially oversubscribed."@@@@1@22@@oe@2-2-2013
22428082@unknown@formal@none@1@S@Municipal bonds rose as much as 3/4 point.@@@@1@8@@oe@2-2-2013
22428083@unknown@formal@none@1@S@Roger Lowenstein contributed to this article.@@@@1@6@@oe@2-2-2013
22429001@unknown@formal@none@1@S@Friday's 190-point plunge in stocks does not come atop the climate of anxiety that dominated financial markets just prior to their 1987 October crash, and mechanisms have been put in place to keep markets more orderly.@@@@1@36@@oe@2-2-2013
22429002@unknown@formal@none@1@S@Still, the lesson is about the same: On Friday the 13th, the market was spooked by Washington.@@@@1@17@@oe@2-2-2013
22429003@unknown@formal@none@1@S@The consensus along the street seems to be that the plunge was triggered by the financing problems of the UAL takeover, and it's certainly true the rout began immediately after the UAL trading halt.@@@@1@34@@oe@2-2-2013
22429004@unknown@formal@none@1@S@Still, the consensus seems almost as wide that one faltering bid is no reason to write down the value of all U.S. business.@@@@1@23@@oe@2-2-2013
22429005@unknown@formal@none@1@S@This observation leads us to another piece of news moving on the Dow Jones ticker shortly before the downturn: the success of Senate Democrats in stalling the capital gains tax cut.@@@@1@31@@oe@2-2-2013
22429006@unknown@formal@none@1@S@The real value of all shares, after all, is directly impacted by the tax on any profits (all the more so given the limits on deductions for losses that show gains are not "ordinary income").@@@@1@35@@oe@2-2-2013
22429007@unknown@formal@none@1@S@And market expectations clearly have been raised by the capital gains victory in the House last month.@@@@1@17@@oe@2-2-2013
22429008@unknown@formal@none@1@S@An hour before Friday's plunge, that provision was stripped from the tax bill, leaving it with $5.4 billion in tax increases without a capital gains cut.@@@@1@26@@oe@2-2-2013
22429009@unknown@formal@none@1@S@There is a great deal to be said, to be sure, for stripping the garbage out of the reconciliation bill.@@@@1@20@@oe@2-2-2013
22429010@unknown@formal@none@1@S@It would be a good thing if Congress started to decide issues one-by-one on their individual merits without trickery.@@@@1@19@@oe@2-2-2013
22429011@unknown@formal@none@1@S@For one thing, no one doubts that the capital gains cut would pass on an up-or-down vote.@@@@1@17@@oe@2-2-2013
22429012@unknown@formal@none@1@S@Since Senate leaders have so far fogged it up with procedural smokescreens, promises of a cleaner bill are suspect.@@@@1@19@@oe@2-2-2013
22429013@unknown@formal@none@1@S@Especially so since President Bush has been weakened by the Panama fiasco.@@@@1@12@@oe@2-2-2013
22429014@unknown@formal@none@1@S@To the extent that the UAL troubles contributed to the plunge, they are another instance of Washington's sticky fingers.@@@@1@19@@oe@2-2-2013
22429015@unknown@formal@none@1@S@As the best opportunities for corporate restructurings are exhausted of course, at some point the market will start to reject them.@@@@1@21@@oe@2-2-2013
22429016@unknown@formal@none@1@S@But the airlines are scarcely a clear case, given anti-takeover mischief by Secretary of Transportation Skinner, who professes to believe safety will be compromised if KLM and British Airways own interests in companies that fly airplanes.@@@@1@36@@oe@2-2-2013
22429017@unknown@formal@none@1@S@Worse, Congress has started to jump on the Skinner bandwagon.@@@@1@10@@oe@2-2-2013
22429018@unknown@formal@none@1@S@James Oberstar, the Minnesota Democrat who chairs the Public Works and Transportation Committee's aviation subcommittee, has put an anti-airline takeover bill on supersonic speed so that it would be passed in time to affect the American and United Air Lines bids.@@@@1@41@@oe@2-2-2013
22429019@unknown@formal@none@1@S@It would give Mr. Skinner up to 50 days to "review" any bid for 15% or more of the voting stock of any U.S. carrier with revenues of $1 billion or more.@@@@1@32@@oe@2-2-2013
22429020@unknown@formal@none@1@S@So the UAL deal has problems, and the market loses 190 points.@@@@1@12@@oe@2-2-2013
22429021@unknown@formal@none@1@S@Congratulations, Mr. Secretary and Mr. Congressman.@@@@1@6@@oe@2-2-2013
22429022@unknown@formal@none@1@S@In the 1987 crash, remember, the market was shaken by a Danny Rostenkowski proposal to tax takeovers out of existance.@@@@1@20@@oe@2-2-2013
22429023@unknown@formal@none@1@S@Even more important, in our view, was the Treasury's threat to thrash the dollar.@@@@1@14@@oe@2-2-2013
22429024@unknown@formal@none@1@S@The Treasury is doing the same thing today; thankfully, the dollar is not under 1987-style pressure.@@@@1@16@@oe@2-2-2013
22429025@unknown@formal@none@1@S@Also, traders are in better shape today than in 1987 to survive selling binges.@@@@1@14@@oe@2-2-2013
22429026@unknown@formal@none@1@S@They are better capitalized.@@@@1@4@@oe@2-2-2013
22429027@unknown@formal@none@1@S@They are in less danger of losing liquidity simply because of tape lags and clearing and settlement delays.@@@@1@18@@oe@2-2-2013
22429028@unknown@formal@none@1@S@The Fed promises any needed liquidity.@@@@1@6@@oe@2-2-2013
22429029@unknown@formal@none@1@S@The Big Board's liaison with the Chicago Board of Trade has improved; it will be interesting to learn if "circuit breakers" prove to be a good idea.@@@@1@27@@oe@2-2-2013
22429030@unknown@formal@none@1@S@In any event, some traders see stocks as underpriced today, unlike 1987.@@@@1@12@@oe@2-2-2013
22429031@unknown@formal@none@1@S@There is nothing wrong with the market that can't be cured by a little coherence and common sense in Washington.@@@@1@20@@oe@2-2-2013
22429032@unknown@formal@none@1@S@But on the bearish side, that may be too much to expect.@@@@1@12@@oe@2-2-2013
22430001@unknown@formal@none@1@S@First Chicago Corp. posted a third-quarter loss of $23.3 million after joining other big banks in further adding to its reserves for losses on foreign loans.@@@@1@26@@oe@2-2-2013
22430002@unknown@formal@none@1@S@The parent company of First National Bank of Chicago, with $48 billion in assets, said it set aside $200 million to absorb losses on loans and investments in financially troubled countries.@@@@1@31@@oe@2-2-2013
22430003@unknown@formal@none@1@S@The addition, on top of two big 1987 additions to foreign-loan reserves, brings the reserve to a level equaling 79% of medium-term and long-term loans outstanding to troubled nations.@@@@1@29@@oe@2-2-2013
22430004@unknown@formal@none@1@S@First Chicago since 1987 has reduced its loans to such nations to $1.7 billion from $3 billion.@@@@1@17@@oe@2-2-2013
22430005@unknown@formal@none@1@S@Despite this loss, First Chicago said it doesn't need to sell stock to raise capital.@@@@1@15@@oe@2-2-2013
22430006@unknown@formal@none@1@S@During the quarter, the company realized a pretax gain of $60.4 million from the sale of its First Chicago Investment Advisors unit.@@@@1@22@@oe@2-2-2013
22430007@unknown@formal@none@1@S@Combined foreign exchange and bond trading profits dipped 24% against last year's third quarter, to $38.2 million from $50.5 million.@@@@1@20@@oe@2-2-2013
22430008@unknown@formal@none@1@S@Gains from First Chicago's venture capital unit, a big leveraged buy-out investor, rose 32% to $34 million from $25.7 million a year ago.@@@@1@23@@oe@2-2-2013
22430009@unknown@formal@none@1@S@Interest income and most fee income was strong.@@@@1@8@@oe@2-2-2013
22431001@unknown@formal@none@1@S@Greece's second bout of general elections this year is slated for Nov. 5.@@@@1@13@@oe@2-2-2013
22431002@unknown@formal@none@1@S@For those hoping to see a modicum of political normalcy restored -- in view of Greece's eight-year misadventure under autocratic pseudosocialism and subsequent three-month hitch with a conservative-communist coalition government -- there is but one bright sign: The scandals still encircling former Prime Minister Andreas Papandreou and his fallen socialist government are like flies buzzing around a rotting carcass.@@@@1@59@@oe@2-2-2013
22431003@unknown@formal@none@1@S@In the mid-June round of voting, Greeks gave no clear mandate to any single political party.@@@@1@16@@oe@2-2-2013
22431004@unknown@formal@none@1@S@The ad interim coalition government that emerged from post-electoral hagglings was, in essence, little more than the ill-conceived offspring of ideological miscegenation: On one side, the center-right New Democracy Party, headed by Constantine Mitsotakis.@@@@1@34@@oe@2-2-2013
22431005@unknown@formal@none@1@S@On the other, the so-called Coalition of the Left and Progress -- a quaint and rather deceptive title for a merger of the pro-Soviet Communist Party of Greece and its Euro-Communist cousin, the Hellenic Left.@@@@1@35@@oe@2-2-2013
22431006@unknown@formal@none@1@S@The unifying bond for this left-right mismatch was plain: PASOK (Mr. Papandreou's party) as common political enemy.@@@@1@17@@oe@2-2-2013
22431007@unknown@formal@none@1@S@The ostensible goal was a mop-up of government corruption, purportedly at all levels, but the main marks were Mr. Papandreou and his closest associates.@@@@1@24@@oe@2-2-2013
22431008@unknown@formal@none@1@S@In point of fact, this catharsis was overdue by decades.@@@@1@10@@oe@2-2-2013
22431009@unknown@formal@none@1@S@When reduced to buzzword status in ex parte pledges, however, the notion transmogrified into a promised assault, with targets primarily for political gains, not justice.@@@@1@25@@oe@2-2-2013
22431010@unknown@formal@none@1@S@With regard to Greece's long-bubbling bank-looting scandal, Mr. Papandreou's principal accuser remains George Koskotas, former owner of the Bank of Crete and self-confessed embezzler, now residing in a jail cell in Salem, Mass., from where he is fighting extradition proceedings that would return him to Greece.@@@@1@46@@oe@2-2-2013
22431011@unknown@formal@none@1@S@Mr. Koskotas's credibility is, at best, problematic.@@@@1@7@@oe@2-2-2013
22431012@unknown@formal@none@1@S@He has ample motive to shift the blame, and his testimony has also been found less than forthright on numerous points.@@@@1@21@@oe@2-2-2013
22431013@unknown@formal@none@1@S@Nevertheless, the New Democracy and Communist parties herald his assertions as proof of PASOK complicity.@@@@1@15@@oe@2-2-2013
22431014@unknown@formal@none@1@S@Among unanswered questions are whether Mr. Papandreou received $23 million of stolen Bank of Crete funds and an additional $734,000 in bribes, as contended; whether the prime minister ordered state agencies to deposit some $57 million in Mr. Koskotas's bank and then skim off the interest; and, what PASOK's cut was from the $210 million Mr. Koskotas pinched.@@@@1@58@@oe@2-2-2013
22431015@unknown@formal@none@1@S@Two former ministers were so heavily implicated in the Koskotas affair that PASOK members of Parliament voted to refer them to the special court.@@@@1@24@@oe@2-2-2013
22431016@unknown@formal@none@1@S@But eluding parliamentary probe was the case of millions of drachmas Mr. Koskotas funneled into New Democracy coffers.@@@@1@18@@oe@2-2-2013
22431017@unknown@formal@none@1@S@In the end, the investigation produced only circumstantial evidence and "indications" that point to PASOK, not clinching proof.@@@@1@18@@oe@2-2-2013
22431018@unknown@formal@none@1@S@On another issue, Greeks were told how their national intelligence agency, the EYP, regularly monitored the telephone conversations of prominent figures, including key opposition politicians, journalists and PASOK cabinet members.@@@@1@30@@oe@2-2-2013
22431019@unknown@formal@none@1@S@Despite convincing arguments, it was never established that Mr. Papandreou personally ordered or directed the wiretaps.@@@@1@16@@oe@2-2-2013
22431020@unknown@formal@none@1@S@The central weakness of the "scandals" debates was pointed up especially well when discussions focused on arms deals and kickbacks.@@@@1@20@@oe@2-2-2013
22431021@unknown@formal@none@1@S@The coalition government tried to show that PASOK ministers had received hefty sums for OKing the purchase of F-16 Fighting Falcon and Mirage 2000 combat aircraft, produced by the U.S.based General Dynamics Corp. and France's Avions Marcel Dassault, respectively.@@@@1@39@@oe@2-2-2013
22431022@unknown@formal@none@1@S@Naturally, neither General Dynamics nor Dassault could be expected to hamper its prospective future dealings by making disclosures of sums paid (or not) to various Greek officials for services rendered.@@@@1@30@@oe@2-2-2013
22431023@unknown@formal@none@1@S@So it seems that Mr. Mitsotakis and his communist chums may have unwittingly served Mr. Papandreou a moral victory on a platter: PASOK, whether guilty or not, can now traipse the countryside condemning the whole affair as a witch hunt at Mr. Papandreou's expense.@@@@1@44@@oe@2-2-2013
22431024@unknown@formal@none@1@S@But while verbal high jinks alone won't help PASOK regain power, Mr. Papandreou should never be underestimated.@@@@1@17@@oe@2-2-2013
22431025@unknown@formal@none@1@S@First came his predictable fusillade: He charged the Coalition of the Left and Progress had sold out its leftist tenets by collaborating in a right-wing plot aimed at ousting PASOK and thwarting the course of socialism in Greece.@@@@1@38@@oe@2-2-2013
22431026@unknown@formal@none@1@S@Then, to buttress his credibility with the left, he enticed some smaller leftist parties to stand for election under the PASOK banner.@@@@1@22@@oe@2-2-2013
22431027@unknown@formal@none@1@S@Next, he continued to court the communists -- many of whom feel betrayed by the left-right coalition's birth -- by bringing into PASOK a well-respected Communist Party candidate.@@@@1@28@@oe@2-2-2013
22431028@unknown@formal@none@1@S@For balance, and in hopes of gaining some disaffected centrist votes, he managed to attract a former New Democracy Party representative and known political enemy of Mr. Mitsotakis.@@@@1@28@@oe@2-2-2013
22431029@unknown@formal@none@1@S@Thus PASOK heads for the polls not only with diminished scandal-stench, but also with "seals of approval" from representatives of its harshest accusers.@@@@1@23@@oe@2-2-2013
22431030@unknown@formal@none@1@S@Crucial as these elections are for Greece, pressing issues of state are getting lost in the shuffle.@@@@1@17@@oe@2-2-2013
22431031@unknown@formal@none@1@S@The country's future NATO participation remains unsure, for instance.@@@@1@9@@oe@2-2-2013
22431032@unknown@formal@none@1@S@Greece also must revamp major pieces of legislation in preparation for the 1992 targets of heightened Common Market cooperation.@@@@1@19@@oe@2-2-2013
22431033@unknown@formal@none@1@S@Greece's bilateral relations with the U.S. need attention soon as well.@@@@1@11@@oe@2-2-2013
22431034@unknown@formal@none@1@S@For one, the current accord concerning U.S. military bases in Greece lapses in May 1990.@@@@1@15@@oe@2-2-2013
22431035@unknown@formal@none@1@S@Negotiations for a new agreement were frozen before the June elections, but the clock is running.@@@@1@16@@oe@2-2-2013
22431036@unknown@formal@none@1@S@Another matter of concern is the extradition of Mohammed Rashid, a Palestinian terrorist who is wanted in the U.S. for the 1982 bombing of a Pan American Airways flight.@@@@1@29@@oe@2-2-2013
22431037@unknown@formal@none@1@S@The Greek courts have decided in favor of extradition in the Rashid case, but the matter awaits final approval from Greece's next justice minister.@@@@1@24@@oe@2-2-2013
22431038@unknown@formal@none@1@S@The Greeks seem barely aware of the importance of the case as a litmus test of whether Greece will be counted in or out for international efforts to combat terrorism.@@@@1@30@@oe@2-2-2013
22431039@unknown@formal@none@1@S@That PASOK could win the elections outright is improbable; the Greek press, previously eager to palm off PASOK's line, has turned on Mr. Papandreou with a wild-eyed vengeance.@@@@1@28@@oe@2-2-2013
22431040@unknown@formal@none@1@S@Yet the possibility of another lash-up government is all too real.@@@@1@11@@oe@2-2-2013
22431041@unknown@formal@none@1@S@If Mr. Papandreou becomes the major opposition leader, he could hamstring a conservative-led coalition.@@@@1@14@@oe@2-2-2013
22431042@unknown@formal@none@1@S@Also, he could force new elections early next year by frustrating the procedures for the election of the president of the republic in March.@@@@1@24@@oe@2-2-2013
22431043@unknown@formal@none@1@S@New Democracy has once again glaringly underestimated the opponent and linked its own prospects to negative reaction against PASOK, forgetting to tend to either program clarity or the rectification of internal squabbles.@@@@1@32@@oe@2-2-2013
22431044@unknown@formal@none@1@S@As for Mr. Papandreou?@@@@1@4@@oe@2-2-2013
22431045@unknown@formal@none@1@S@He's not exactly sitting pretty at this stage.@@@@1@8@@oe@2-2-2013
22431046@unknown@formal@none@1@S@But since he is undoubtedly one of the most proficient bull slingers who ever raked muck, it seems far wiser to view him as sidelined, but certainly not yet eliminated.@@@@1@30@@oe@2-2-2013
22431047@unknown@formal@none@1@S@Mr. Carpenter, a regional correspondent for National Review, has lived in Athens since 1981.@@@@1@14@@oe@2-2-2013
22432001@unknown@formal@none@1@S@U.S. OFFICIALS MOVED to head off any repeat of Black Monday today following Friday's plunge in stock prices.@@@@1@18@@oe@2-2-2013
22432002@unknown@formal@none@1@S@Fed Chairman Greenspan signaled that the central bank was prepared to inject massive amounts of money into the banking system to prevent a financial crisis.@@@@1@25@@oe@2-2-2013
22432003@unknown@formal@none@1@S@Other U.S. and foreign officials also mapped out plans, though they kept their moves quiet to avoid making the financial markets more jittery.@@@@1@23@@oe@2-2-2013
22432004@unknown@formal@none@1@S@Friday's sell-off was triggered by the collapse of UAL's buy-out plan and a big rise in producer prices.@@@@1@18@@oe@2-2-2013
22432005@unknown@formal@none@1@S@The Dow Jones industrials skidded 190.58, to 2569.26.@@@@1@8@@oe@2-2-2013
22432006@unknown@formal@none@1@S@The junk bond market came to a standstill, while Treasury bonds soared and the dollar fell.@@@@1@16@@oe@2-2-2013
22432007@unknown@formal@none@1@S@Japanese stocks dropped early Monday, but by late morning were turning around.@@@@1@12@@oe@2-2-2013
22432008@unknown@formal@none@1@S@The dollar was trading sharply lower in Tokyo.@@@@1@8@@oe@2-2-2013
22432009@unknown@formal@none@1@S@Prospects for a new UAL buy-out proposal appear bleak.@@@@1@9@@oe@2-2-2013
22432010@unknown@formal@none@1@S@Many banks refused to back the $6.79 billion transaction, but bankers said it was not from any unwillingness to finance takeovers.@@@@1@21@@oe@2-2-2013
22432011@unknown@formal@none@1@S@The decision was based solely on problems with the UAL management-pilot plan, they said.@@@@1@14@@oe@2-2-2013
22432012@unknown@formal@none@1@S@The surge in producer prices in September followed three months of declines, but analysts were divided on whether the 0.9% jump signaled a severe worsening of inflation.@@@@1@27@@oe@2-2-2013
22432013@unknown@formal@none@1@S@Also, retail sales grew 0.5% last month.@@@@1@7@@oe@2-2-2013
22432014@unknown@formal@none@1@S@A capital-gains tax cut was removed from the Senate's deficit reduction bill, but proponents still hope to enact the cut this year.@@@@1@22@@oe@2-2-2013
22432015@unknown@formal@none@1@S@Bush won't press for a capital-gains provision in the final deficit bill when House-Senate conferees meet later this week.@@@@1@19@@oe@2-2-2013
22432016@unknown@formal@none@1@S@General Motors signaled that up to five North American assembly plants may close by the mid-1990s as it tries to cut excess capacity.@@@@1@23@@oe@2-2-2013
22432017@unknown@formal@none@1@S@U.S. car and truck sales fell 12.6% in early October, the first sales period of the 1990-model year, dragged down by a sharp decline in GM sales.@@@@1@27@@oe@2-2-2013
22432018@unknown@formal@none@1@S@Warner and Sony are entangled in a legal battle over movie producers Peter Gruber and Jon Peters.@@@@1@17@@oe@2-2-2013
22432019@unknown@formal@none@1@S@The fight could set back Sony's plans to enter the U.S. movie business.@@@@1@13@@oe@2-2-2013
22432020@unknown@formal@none@1@S@Hooker's U.S. unit received a $409 million bid for most of its real-estate and shopping-center assets from an investor group.@@@@1@20@@oe@2-2-2013
22432021@unknown@formal@none@1@S@The offer doesn't include Bonwit Teller or B. Altman.@@@@1@9@@oe@2-2-2013
22432022@unknown@formal@none@1@S@The Boeing strike is starting to affect airlines.@@@@1@8@@oe@2-2-2013
22432023@unknown@formal@none@1@S@America West said Friday it will postpone its new service out of Houston because of delays in receiving aircraft from Boeing.@@@@1@21@@oe@2-2-2013
22432024@unknown@formal@none@1@S@Saatchi & Saatchi would launch a management buy-out if a hostile suitor emerged, an official said.@@@@1@16@@oe@2-2-2013
22432025@unknown@formal@none@1@S@British Aerospace and France's Thomson-CSF are nearing a pact to merge guided-missile divisions.@@@@1@13@@oe@2-2-2013
22432026@unknown@formal@none@1@S@New U.S. steel-import quotas will give a bigger share to developing nations that have relatively unsubsidized steel industries.@@@@1@18@@oe@2-2-2013
22432027@unknown@formal@none@1@S@Japan's steel quota will be cut significantly.@@@@1@7@@oe@2-2-2013
22432028@unknown@formal@none@1@S@Four ailing S&Ls were sold off by government regulators, but low bids prevented the sale of a fifth.@@@@1@18@@oe@2-2-2013
22432029@unknown@formal@none@1@S@Markets --@@@@1@2@@oe@2-2-2013
22432030@unknown@formal@none@1@S@Stocks: Volume 251,170,000 shares.@@@@1@4@@oe@2-2-2013
22432031@unknown@formal@none@1@S@Dow Jones industrials 2569.26, off 190.58; transportation 1406.29, off 78.06; utilities 211.96, off 7.29.@@@@1@14@@oe@2-2-2013
22432032@unknown@formal@none@1@S@Bonds: Shearson Lehman Hutton Treasury index 3421.29, up@@@@1@8@@oe@2-2-2013
22432033@unknown@formal@none@1@S@Commodities: Dow Jones futures index 129.87, up 0.01; spot index 129.25, up 0.28.@@@@1@13@@oe@2-2-2013
22432034@unknown@formal@none@1@S@Dollar: 142.10 yen, off 2.07; 1.8740 marks, off 0.0343.@@@@1@9@@oe@2-2-2013
22433001@unknown@formal@none@1@S@A federal appeals court in San Francisco ruled that shareholders can't hold corporate officials liable for false sales projections on new products if the news media concurrently revealed substantial information about the product's flaws.@@@@1@34@@oe@2-2-2013
22433002@unknown@formal@none@1@S@The ruling stems from a 1984 suit filed by shareholders of Apple Computer Inc., claiming that company officials misled investors about the expected success of the Lisa computer, introduced in 1983.@@@@1@31@@oe@2-2-2013
22433003@unknown@formal@none@1@S@Lawyers specializing in shareholder suits said they are concerned that use of the "press defense" by corporations may become popular as a result of the ruling.@@@@1@26@@oe@2-2-2013
22433004@unknown@formal@none@1@S@According to the suit, Apple officials created public excitement by touting Lisa as an office computer that would revolutionize the workplace and be extremely successful in its first year.@@@@1@29@@oe@2-2-2013
22433005@unknown@formal@none@1@S@The plaintiffs also alleged that prior to the fanfare, the company circulated internal memos indicating problems with Lisa.@@@@1@18@@oe@2-2-2013
22433006@unknown@formal@none@1@S@The suit claimed Apple's stock climbed to a high of $63.50 a share on the basis of the company's optimistic forecasts.@@@@1@21@@oe@2-2-2013
22433007@unknown@formal@none@1@S@But when the company revealed Lisa's poor sales late in 1983, the stock plummeted to a low of $17.37 a share, according to the suit.@@@@1@25@@oe@2-2-2013
22433008@unknown@formal@none@1@S@The shareholders claimed more than $150 million in losses.@@@@1@9@@oe@2-2-2013
22433009@unknown@formal@none@1@S@In 1987, the San Francisco district court dismissed the case largely because newspaper reports had sufficiently counterbalanced the company's statements by alerting consumers to Lisa's problems.@@@@1@26@@oe@2-2-2013
22433010@unknown@formal@none@1@S@Late last month, the appeals court agreed that most of the case should be dismissed.@@@@1@15@@oe@2-2-2013
22433011@unknown@formal@none@1@S@However, it gave the shareholders the right to pursue a small portion of their claim that pertains to Lisa's disk drive, known as Twiggy.@@@@1@24@@oe@2-2-2013
22433012@unknown@formal@none@1@S@The court ruled that the news media didn't reveal Twiggy's problems at the time.@@@@1@14@@oe@2-2-2013
22433013@unknown@formal@none@1@S@Lawyers are worried about the ruling's implication in other shareholder suits but pointed out that the court stressed that the ruling should be regarded as very specific to the Apple case.@@@@1@31@@oe@2-2-2013
22433014@unknown@formal@none@1@S@"The court was careful to say that the adverse information appeared in the very same articles and received the same attention as the company's statements," said Patrick Grannon, a Los Angeles lawyer at the firm of Greenfield & Chimicles, which wasn't involved in the case.@@@@1@45@@oe@2-2-2013
22433015@unknown@formal@none@1@S@"The court is saying that the adverse facts have to be transferred to the market with equal intensity and credibility as the statements of corporate insiders."@@@@1@26@@oe@2-2-2013
22433016@unknown@formal@none@1@S@Shareholders' attorneys at the New York firm of Milberg, Weiss, Bershad, Specthrie & Lerach last week petitioned for a rehearing of the case.@@@@1@23@@oe@2-2-2013
22433017@unknown@formal@none@1@S@They wrote: "The opinion establishes a new rule of immunity -- that if a wide variety of opinions on a company's business are publicly reported, the company can say anything without fear of securities liability."@@@@1@35@@oe@2-2-2013
22433018@unknown@formal@none@1@S@NFL ORDERED to pay $5.5 million in legal fees to defunct@@@@1@11@@oe@2-2-2013
22433019@unknown@formal@none@1@S@The National Football League is considering appealing the ruling stemming from the U.S. Football League's largely unsuccessful antitrust suit against the NFL.@@@@1@22@@oe@2-2-2013
22433020@unknown@formal@none@1@S@A jury in 1986 agreed with the USFL's claims that the NFL monopolized major league football.@@@@1@16@@oe@2-2-2013
22433021@unknown@formal@none@1@S@But the jury awarded the USFL only $1 in damages, trebled because of the antitrust claims.@@@@1@16@@oe@2-2-2013
22433022@unknown@formal@none@1@S@Last week, the U.S. Court of Appeals in New York upheld a $5.5 million award of attorneys fees to the defunct league.@@@@1@22@@oe@2-2-2013
22433023@unknown@formal@none@1@S@Harvey D. Myerson, of Myerson & Kuhn, then of Finley, Kumble, Wagner, Heine, Underberg, Manley, Myerson & Casey, was the lead trial lawyer, and his new firm pursued the application appeal.@@@@1@31@@oe@2-2-2013
22433024@unknown@formal@none@1@S@Douglas R. Pappas of Myerson & Kuhn says about $5.3 million of the award goes directly to the USFL to reimburse it for fees already paid.@@@@1@26@@oe@2-2-2013
22433025@unknown@formal@none@1@S@Myerson & Kuhn will get about $260,000 for the costs of pressing the application.@@@@1@14@@oe@2-2-2013
22433026@unknown@formal@none@1@S@The federal appeals court held that the nominal damages and the failure to prove all claims didn't exclude the USFL from being reimbursed.@@@@1@23@@oe@2-2-2013
22433027@unknown@formal@none@1@S@Antitrust laws provide that injured parties may be reimbursed for lawyers' fees.@@@@1@12@@oe@2-2-2013
22433028@unknown@formal@none@1@S@But Shepard Goldfein, an attorney for the NFL, says his client will consider asking for another hearing or appealing to the U.S. Supreme Court.@@@@1@24@@oe@2-2-2013
22433029@unknown@formal@none@1@S@Mr. Goldfein, of Skadden, Arps, Slate, Meagher & Flom in New York, says the ruling is wrong and the fee award is excessive because the USFL lost its major claims, including its contention that the NFL restrained trade through television contracts.@@@@1@41@@oe@2-2-2013
22433030@unknown@formal@none@1@S@"The USFL was not the prevailing party," Mr. Goldfein insists.@@@@1@10@@oe@2-2-2013
22433031@unknown@formal@none@1@S@HOUSTON-CALGARY ALLIANCE:@@@@1@2@@oe@2-2-2013
22433032@unknown@formal@none@1@S@Fulbright & Jaworski of Houston and Fenerty, Robertson, Fraser & Hatch of Calgary, Alberta, are affiliating to help serve their energy-industry clients.@@@@1@22@@oe@2-2-2013
22433033@unknown@formal@none@1@S@The affiliation is believed to be the first such cross-border arrangement among major law firms.@@@@1@15@@oe@2-2-2013
22433034@unknown@formal@none@1@S@The firms aren't required to refer work exclusively to each other and remain separate organizations.@@@@1@15@@oe@2-2-2013
22433035@unknown@formal@none@1@S@But they will work together on energy-, environmental- and fair-trade-related issues and conduct seminars on topics of mutual interest, said Gibson Gayle Jr. of 585-lawyer Fulbright & Jaworski.@@@@1@28@@oe@2-2-2013
22433036@unknown@formal@none@1@S@In addition, Fulbright & Jaworski's Washington, D.C., office will play a key role as the firms work together on regulatory issues, particularly natural-gas exports, for their clients.@@@@1@27@@oe@2-2-2013
22433037@unknown@formal@none@1@S@The arrangement, reached after about eight months of negotiations, grew out of 80-lawyer Fenerty Robertson's desire to develop ties with a U.S. firm in light of relaxed trade barriers between the U.S. and Canada, said Francis M. Saville of Fenerty Robertson.@@@@1@41@@oe@2-2-2013
22433038@unknown@formal@none@1@S@IN WHAT MAY SIGNAL a turnaround for asbestos manufacturers, W.R. Grace & Co. won a 3 1/2-week trial in Pittsburgh over whether it should be required to remove asbestos fireproofing from a local high school.@@@@1@35@@oe@2-2-2013
22433039@unknown@formal@none@1@S@Mount Lebanon High School, near Pittsburgh, sought $21 million in compensatory damages from Grace, arguing that the asbestos, which can cause respiratory diseases and lung cancer, posed a risk to students.@@@@1@31@@oe@2-2-2013
22433040@unknown@formal@none@1@S@Grace successfully contended that removing the fire retardant would pose a greater health risk than leaving it alone.@@@@1@18@@oe@2-2-2013
22433041@unknown@formal@none@1@S@A spokesman for the company said the verdict is thought to be the first in favor of an asbestos manufacturer where the plaintiff was a school and the asbestos in question was used for fireproofing.@@@@1@35@@oe@2-2-2013
22433042@unknown@formal@none@1@S@FCC COUNSEL JOINS FIRM:@@@@1@4@@oe@2-2-2013
22433043@unknown@formal@none@1@S@Diane S. Killory will join 500-lawyer Morrison & Foerster as a partner in its Washington, D.C., office in mid-November.@@@@1@19@@oe@2-2-2013
22433044@unknown@formal@none@1@S@She will help develop the mass-media practice of the San Francisco-based firm's communications group.@@@@1@14@@oe@2-2-2013
22433045@unknown@formal@none@1@S@Ms. Killory, 35 years old, resigned as Federal Communications Commission general counsel early this month after nearly three years in that post.@@@@1@22@@oe@2-2-2013
22433046@unknown@formal@none@1@S@She was the first woman to be appointed FCC general counsel.@@@@1@11@@oe@2-2-2013
22433047@unknown@formal@none@1@S@RICHARD P. MAGURNO, formerly Eastern Airlines' top lawyer, joined the New York law firm of Lord Day & Lord, Barrett Smith as a partner.@@@@1@24@@oe@2-2-2013
22433048@unknown@formal@none@1@S@Mr. Magurno, 45, spent 17 years at the Miami airline unit of Houston-based Texas Air Corp. and was named general counsel in 1984.@@@@1@23@@oe@2-2-2013
22433049@unknown@formal@none@1@S@He left the company in 1987.@@@@1@6@@oe@2-2-2013
22433050@unknown@formal@none@1@S@Mr. Magurno said he will split his time between the 200-lawyer firm's offices in Washington, D.C., and New York, with specialties in aviation and labor law.@@@@1@26@@oe@2-2-2013
22434001@unknown@formal@none@1@S@Apple Computer Inc. said it will offer cash rebates on several of its machines from Oct. 14 to Dec. 31., as part of a holiday-season sales promotion.@@@@1@27@@oe@2-2-2013
22434002@unknown@formal@none@1@S@Apple will offer a $150 rebate on its Apple IIGS with any Apple Monitor and disk drive; $200 on the basic Macintosh Plus central processing unit; $250 on the Macintosh SE central processing unit; $250 on the Macintosh SE/30 cpu, and $300 on a Macintosh IIcx with any Apple video card and Apple monitor.@@@@1@54@@oe@2-2-2013
22434003@unknown@formal@none@1@S@The rebates, as a percentage of the retail cost of the cpu of each system, amount to 6% to 13%.@@@@1@20@@oe@2-2-2013
22434004@unknown@formal@none@1@S@The company is also offering a free trial of its computers to consumers who qualify for its credit cards or leases.@@@@1@21@@oe@2-2-2013
22435001@unknown@formal@none@1@S@Matsushita Electric Industrial Co. of Japan and Siemens AG of West Germany announced they have completed a 100 million-mark ($52.2 million) joint venture to produce electronics parts.@@@@1@27@@oe@2-2-2013
22435002@unknown@formal@none@1@S@In the venture's first fiscal year, Siemens will hold 74.9% of the venture and a Matsushita subsidiary, Matsushita Electronic Components Co., 25.1%.@@@@1@22@@oe@2-2-2013
22435003@unknown@formal@none@1@S@A basic agreement between the two companies was announced in June.@@@@1@11@@oe@2-2-2013
22435004@unknown@formal@none@1@S@The new company is to be called Siemens Matsushita Components G.m.b.H.@@@@1@11@@oe@2-2-2013
22435005@unknown@formal@none@1@S@It will have its headquarters in Munich.@@@@1@7@@oe@2-2-2013
22435006@unknown@formal@none@1@S@Matsushita's share in the venture will rise to 35% Oct. 1, 1990, and to 50% the following Oct. 1.@@@@1@19@@oe@2-2-2013
22435007@unknown@formal@none@1@S@Siemens will retain majority voting rights.@@@@1@6@@oe@2-2-2013
22435008@unknown@formal@none@1@S@The parent companies forecast sales for the venture of around 750 million marks for its first fiscal year, Matsushita said.@@@@1@20@@oe@2-2-2013
22435009@unknown@formal@none@1@S@Sales are expected to rise to one billion marks after four years.@@@@1@12@@oe@2-2-2013
22435010@unknown@formal@none@1@S@The company will have production facilities in West Germany, Austria, France and Spain.@@@@1@13@@oe@2-2-2013
22436001@unknown@formal@none@1@S@Roger Rosenblatt, editor of U.S. News & World Report, resigned Friday from the weekly news magazine.@@@@1@16@@oe@2-2-2013
22436002@unknown@formal@none@1@S@Mr. Rosenblatt said he resigned because of difficulties with commuting between his home in New York and the magazine's editorial offices in Washington.@@@@1@23@@oe@2-2-2013
22436003@unknown@formal@none@1@S@"Frankly, I missed my family," said Mr. Rosenblatt.@@@@1@8@@oe@2-2-2013
22436004@unknown@formal@none@1@S@In Mr. Rosenblatt's tenure, the magazine's advertising pages and circulation have grown significantly.@@@@1@13@@oe@2-2-2013
22436005@unknown@formal@none@1@S@But at 2.3 million weekly paid circulation, U.S. News still ranks third behind Time Warner Inc.'s Time magazine, with 4.4 million circulation, and Washington Post Co.'s Newsweek, with 3.3 million circulation.@@@@1@31@@oe@2-2-2013
22436006@unknown@formal@none@1@S@Mortimer B. Zuckerman, chairman and editor in chief, said Mr. Rosenblatt would be succeeded starting today by Michael Ruby, the magazine's executive editor, and Merrill McLoughlin, a senior writer.@@@@1@29@@oe@2-2-2013
22436007@unknown@formal@none@1@S@Mr. Ruby and Ms. McLoughlin are married to each other.@@@@1@10@@oe@2-2-2013
22436008@unknown@formal@none@1@S@Mr. Zuckerman said his magazine would maintain its editorial format, which is a mix of analysis and trend stories with service-oriented, how-to articles.@@@@1@23@@oe@2-2-2013
22436009@unknown@formal@none@1@S@Mr. Rosenblatt, a senior writer at Time magazine before joining U.S. News & World Report, said he had numerous job offers from other magazines while he was editor.@@@@1@28@@oe@2-2-2013
22436010@unknown@formal@none@1@S@The offers were to work as a writer, not an editor.@@@@1@11@@oe@2-2-2013
22436011@unknown@formal@none@1@S@He said he will now consider those offers.@@@@1@8@@oe@2-2-2013
22437001@unknown@formal@none@1@S@Avions Marcel Dassault-Breguet Aviation S.A. said group profit before taxes and contributions to employee profit-sharing soared 97% to 839 million francs ($129.6 million) in the first half of 1989 from 425 million francs a year earlier.@@@@1@36@@oe@2-2-2013
22437002@unknown@formal@none@1@S@The French aircraft group pointed out, however, that financial results from its sector of industry are frequently erratic because of irregular cash flow from large contracts.@@@@1@26@@oe@2-2-2013
22437003@unknown@formal@none@1@S@It noted, for example, that group revenue for the first half was 8.734 billion francs, down about 12% from 9.934 billion francs a year earlier.@@@@1@25@@oe@2-2-2013
22437004@unknown@formal@none@1@S@Still, it said it expects sales for all of 1989 to be on the order of 20 billion francs, reflecting anticipated billings for two large contracts in the second half of the year.@@@@1@33@@oe@2-2-2013
22437005@unknown@formal@none@1@S@For all of 1988, Dassault had group profit of 428 million francs on revenue of 18.819 billion francs.@@@@1@18@@oe@2-2-2013
22437006@unknown@formal@none@1@S@The group hasn't yet released earnings figures for the first half of 1989, nor has it made a detailed forecast of its full-year earnings.@@@@1@24@@oe@2-2-2013
22438001@unknown@formal@none@1@S@Keystone Consolidated Industries Inc. expects to report earnings before extraordinary tax benefits of about $1.5 million, or about 41 cents a share, for the third quarter, compared with a loss last year, said Glenn R. Simmons, chairman and chief executive officer.@@@@1@41@@oe@2-2-2013
22438002@unknown@formal@none@1@S@After a tax benefit of about $780,000, Keystone expects to report net income of $2.3 million, or about 62 cents a share, Mr. Simmons said.@@@@1@25@@oe@2-2-2013
22438003@unknown@formal@none@1@S@For third quarter last year, Keystone reported a $1 million loss from continuing operations and a $200,000 loss from discontinued operations, for a net loss of $1.2 million.@@@@1@28@@oe@2-2-2013
22438004@unknown@formal@none@1@S@Revenue for the latest third quarter was about $70.5 million, up 10% from $63.6 million last year, he said.@@@@1@19@@oe@2-2-2013
22438005@unknown@formal@none@1@S@Mr. Simmons said the results signal a turnaround for the maker of wire and wire products, which has struggled to remain competitive in the face of lower-priced, imported steel.@@@@1@29@@oe@2-2-2013
22438006@unknown@formal@none@1@S@A new $46 million steel rod minimill, which got off to a rocky start in early 1988, now is running efficiently and a new management team is more heavily marketing Keystone's products, Mr. Simmons said.@@@@1@35@@oe@2-2-2013
22438007@unknown@formal@none@1@S@As a result, the company hopes to report net income for the year of about $11.6 million, or about $3.10 to $3.15 a share, compared with a net loss of $24.4 million last year, after a loss from discontinued operations of $18.4 million.@@@@1@43@@oe@2-2-2013
22438008@unknown@formal@none@1@S@Revenue for 1989 is expected to be about $300 million, up about 21% from $247.3 million in 1988.@@@@1@18@@oe@2-2-2013
22438009@unknown@formal@none@1@S@For the nine months ended Sept. 30, Keystone expects to report net income of $9.3 milion, or about $2.53 a share, after an extraordinary gain from $3.2 million in tax benefits.@@@@1@31@@oe@2-2-2013
22438010@unknown@formal@none@1@S@Last year, the company had a net loss of $6.5 million, including a $6.1 million loss from continuing operations and a $400,000 loss from discontinued operations.@@@@1@26@@oe@2-2-2013
22438011@unknown@formal@none@1@S@Revenue for the nine months is expected to be about $230.5 million, up about 21% from $190.4 million last year.@@@@1@20@@oe@2-2-2013
22438012@unknown@formal@none@1@S@Mr. Simmons said Keystone's new mill is expected to produce about 585,000 tons of steel rods this year, up from 413,000 tons in 1988.@@@@1@24@@oe@2-2-2013
22438013@unknown@formal@none@1@S@Production at the mill has exceeded the ability of Keystone's casting operation to supply it, he said, which will force Keystone to purchase billet, or unfinished steel bars, from outside the company during the fourth quarter and next year.@@@@1@39@@oe@2-2-2013
22438014@unknown@formal@none@1@S@Keystone will have to consider expanding its casting operation, at an estimated cost of $8 million to $10 million, within the next 18 to 24 months, Mr. Simmons said.@@@@1@29@@oe@2-2-2013
22438015@unknown@formal@none@1@S@Under Robert W. Singer, who was named president and chief operating officer last year, Keystone has expanded its sales force to about 20 people from about 15 and hopes to expand its sales from the middle portion of the country toward the East and West coasts.@@@@1@46@@oe@2-2-2013
22438016@unknown@formal@none@1@S@"Prior to a year ago, Keystone was an order-taker.@@@@1@9@@oe@2-2-2013
22438017@unknown@formal@none@1@S@Now I think we have a group of marketing people who are out selling to retailers and wholesalers," Mr. Simmons said.@@@@1@21@@oe@2-2-2013
22438018@unknown@formal@none@1@S@Still, he said, the 100-year-old company plans to continue its premium-priced strategy for its distinctive brand of red-tipped wire fencing and other products.@@@@1@23@@oe@2-2-2013
22438019@unknown@formal@none@1@S@The company claims a 40% share of the U.S. field fence business, a 35% share of poultry netting sales and a 30% share of barbed wire sales.@@@@1@27@@oe@2-2-2013
22439001@unknown@formal@none@1@S@Freeport-McMoRan Inc. said a temporary cessation of operations at its Sunshine Bridge uranium-recovery facility in Donaldsonville, La., will result in slight earnings improvement to both the company and its Freeport-McMoRan Resource Partners Limited Partnership unit.@@@@1@35@@oe@2-2-2013
22439002@unknown@formal@none@1@S@The company didn't elaborate.@@@@1@4@@oe@2-2-2013
22439003@unknown@formal@none@1@S@The diversified energy and minerals concern said that a depressed uranium market is responsible for the temporary mothballing of the plant, but that the plant can be reactivated quickly when the market improves.@@@@1@33@@oe@2-2-2013
22439004@unknown@formal@none@1@S@More than 400,000 pounds of uranium a year have been produced at the facility during the past seven years.@@@@1@19@@oe@2-2-2013
22439005@unknown@formal@none@1@S@A second uranium-recovery plant at Uncle Sam, La., that produces more than 700,000 pounds of uranium annually, will continue to operate.@@@@1@21@@oe@2-2-2013
22439006@unknown@formal@none@1@S@Freeport-McMoRan said the shutdown won't affect sales volumes under long-term sales contracts of its Freeport Uranium Recovery Co. unit, but will reduce the amount of product sold on the spot market.@@@@1@31@@oe@2-2-2013
22439007@unknown@formal@none@1@S@Freeport-McMoRan Resource Partners, as owner of the uranium-recovery technology, receives royalty payments.@@@@1@12@@oe@2-2-2013
22440001@unknown@formal@none@1@S@Business Week subscribers may hear this week's issue talking back to them.@@@@1@12@@oe@2-2-2013
22440002@unknown@formal@none@1@S@A four-page ad from Texas Instruments Inc., running in approximately 140,000 issues of the Oct. 20 "Corporate Elite" issue of the McGraw-Hill Inc. publication, contains a speech synthesizer laminated between two of the pages.@@@@1@34@@oe@2-2-2013
22440003@unknown@formal@none@1@S@Readers who pull off a piece of tape and press a switch will hear a tiny -- but distinctly human-sounding -- voice announce, "I am the talking chip," as it launches into a 15-second discourse on its own attributes.@@@@1@39@@oe@2-2-2013
22440004@unknown@formal@none@1@S@The talking chip isn't cheap -- the per-ad cost to Texas Instruments is about $4, and that's without adding in Business Week's charge -- but Texas Instruments believes it is a first.@@@@1@32@@oe@2-2-2013
22440005@unknown@formal@none@1@S@Previous efforts have included musical ads, featuring simple tone-generating chips that play a tune, but the voice synthesizer in this effort is much more sophisticated, with none of the robotic flatness that one hears, for example, when calling telephone directory services.@@@@1@41@@oe@2-2-2013
22440006@unknown@formal@none@1@S@And for those who miss the message the first time around, not to worry: Three tiny batteries provide enough juice for as many as 650 replays.@@@@1@26@@oe@2-2-2013
22441001@unknown@formal@none@1@S@Lomas Financial Corp., Dallas, said it will ask a U.S. bankruptcy court to allow it to hire Lazard Freres & Co. to help it sell its leasing unit.@@@@1@28@@oe@2-2-2013
22441002@unknown@formal@none@1@S@Lomas, assisted by Merrill Lynch Capital Markets, has been trying to sell its Equitable Lomas Leasing Co. for several months, apparently without success.@@@@1@23@@oe@2-2-2013
22441003@unknown@formal@none@1@S@The real estate and mortgage banking concern had hoped to use proceeds from the sale to reduce its debt.@@@@1@19@@oe@2-2-2013
22441004@unknown@formal@none@1@S@Without cash from asset sales and unable to reach a new bank-credit agreement, Lomas defaulted on $145 million in notes that became due Sept. 1.@@@@1@25@@oe@2-2-2013
22441005@unknown@formal@none@1@S@It filed for protection from creditors under Chapter 11 of the federal Bankruptcy Code Sept. 24 to give it additional time to work on a plan to restructure its $1.45 billion in senior debt.@@@@1@34@@oe@2-2-2013
22441006@unknown@formal@none@1@S@Lomas said Merrill Lynch, which owns bonds and equity in Lomas, couldn't continue as Lomas's investment banker because it is also a creditor.@@@@1@23@@oe@2-2-2013
22441007@unknown@formal@none@1@S@It said it chose Lazard in part because of Lazard's offices in Europe and Japan, where investors might be interested in a U.S. leasing company.@@@@1@25@@oe@2-2-2013
22442001@unknown@formal@none@1@S@Canadian Imperial Bank of Commerce said it will increase its loan-loss provisions to cover all its loans to lesser developed countries, except Mexico, resulting in an after-tax charge to 1989 earnings of 300 million Canadian dollars (US$255 million).@@@@1@38@@oe@2-2-2013
22442002@unknown@formal@none@1@S@Don Bowder, senior vice president and chief accountant, said the bank's strong earnings enable it to be the first major Canadian bank to set aside provisions covering all its C$1.17 billion in non-Mexican LDC debt.@@@@1@35@@oe@2-2-2013
22442003@unknown@formal@none@1@S@"It eliminates the continuing uncertainty with respect to the ultimate value of the loans," he said.@@@@1@16@@oe@2-2-2013
22442004@unknown@formal@none@1@S@The bank said about C$525 million will be added to its existing LDC and general loss provisions in its fourth quarter, ending Oct. 31.@@@@1@24@@oe@2-2-2013
22442005@unknown@formal@none@1@S@Mr. Bowder said the C$300 million charge to earnings would amount to about C$1.34 a share.@@@@1@16@@oe@2-2-2013
22442006@unknown@formal@none@1@S@The bank's net income for the nine months ended July 31 was C$577 million, or C$3.10 a share.@@@@1@18@@oe@2-2-2013
22442007@unknown@formal@none@1@S@Mr. Bowder said the bank will restructure its C$604 million of Mexican debt, of which C$255 million is in Mexican notes secured by U.S. government bonds.@@@@1@26@@oe@2-2-2013
22442008@unknown@formal@none@1@S@The bank has a 45% reserve against the remaining C$349 million of Mexican debt and expects to swap that for other Mexican notes supported by U.S. Treasury zero-coupon bonds.@@@@1@29@@oe@2-2-2013
22442009@unknown@formal@none@1@S@Mr. Bowder said the bank's experience with LDC debt has been "painful" and this latest move represents the final phase of a program begun seven years ago to reduce its exposure through provisioning, debt sales and debt swaps.@@@@1@38@@oe@2-2-2013
22442010@unknown@formal@none@1@S@He said the bank will no longer participate in LDC sovereign lending, but will support trade financing and other transactions that meet the bank's standards.@@@@1@25@@oe@2-2-2013
22443001@unknown@formal@none@1@S@The carnage among takeover stocks Friday doesn't mean the end of mega-mergers but simply marks the start of a less ambitious game, Wall Street's big-time deal makers say.@@@@1@28@@oe@2-2-2013
22443002@unknown@formal@none@1@S@Suitors from now on are more likely to be expansion-minded companies, rather than raiders or debt-happy financiers.@@@@1@17@@oe@2-2-2013
22443003@unknown@formal@none@1@S@And they will be launching lower-priced and perhaps fewer deals, now that it's tougher to finance them.@@@@1@17@@oe@2-2-2013
22443004@unknown@formal@none@1@S@This is an ominous sign for a stock market that lately has been fueled by takeover speculation and bidding wars for companies that put themselves up for sale.@@@@1@28@@oe@2-2-2013
22443005@unknown@formal@none@1@S@Whenever the 1980s merger boom seems to be stalling, shock waves ripple through the stock market.@@@@1@16@@oe@2-2-2013
22443006@unknown@formal@none@1@S@"The market is overvalued, not cheap," says Alan Gaines of the New York money-management firm Gaines Berland.@@@@1@17@@oe@2-2-2013
22443007@unknown@formal@none@1@S@He recently began increasing his cash position to 45% of his portfolio.@@@@1@12@@oe@2-2-2013
22443008@unknown@formal@none@1@S@"I look at where deals can get done," he says, "and they're not getting done" at current prices.@@@@1@18@@oe@2-2-2013
22443009@unknown@formal@none@1@S@Lenders are growing increasingly nervous about debt-financed takeovers, investment bankers say.@@@@1@11@@oe@2-2-2013
22443010@unknown@formal@none@1@S@"You had a week of a deteriorating junk-bond market that ran smack into the news on Friday about what appeared to be happening to the bank debt market," says Steven Rattner, a partner and merger specialist with Lazard Freres & Co.@@@@1@41@@oe@2-2-2013
22443011@unknown@formal@none@1@S@Trading dried up Friday in the market for high-yield junk bonds, often used to finance takeovers.@@@@1@16@@oe@2-2-2013
22443012@unknown@formal@none@1@S@It was the latest in a series of setbacks for the junk bond market, where prices began weakening last month after Campeau hit a cash crunch.@@@@1@26@@oe@2-2-2013
22443013@unknown@formal@none@1@S@And banks appear to be taking an increasingly skeptical view of requests for high-risk takeover loans.@@@@1@16@@oe@2-2-2013
22443014@unknown@formal@none@1@S@The group trying to buy UAL announced Friday that it couldn't arrange the $7.2 billion in bank loans it needs to buy the parent of United Airlines for $300 a share.@@@@1@31@@oe@2-2-2013
22443015@unknown@formal@none@1@S@Takeover-stock traders today will be scrambling to learn of any UAL developments, and other takeover stocks are likely to trade in sympathy.@@@@1@22@@oe@2-2-2013
22443016@unknown@formal@none@1@S@Investment bankers representing the buy-out group and UAL's board spent a frantic weekend trying to hammer out new terms that would be more acceptable to the banks.@@@@1@27@@oe@2-2-2013
22443017@unknown@formal@none@1@S@After UAL, the stock viewed as most vulnerable is American Airlines' parent AMR, the target of a $120-a-share takeover proposal from New York real estate developer Donald Trump.@@@@1@28@@oe@2-2-2013
22443018@unknown@formal@none@1@S@Trading in AMR shares was suspended shortly after 3 p.m. EDT Friday and didn't resume.@@@@1@15@@oe@2-2-2013
22443019@unknown@formal@none@1@S@Before the halt, AMR last traded at 98 5/8.@@@@1@9@@oe@2-2-2013
22443020@unknown@formal@none@1@S@Late Friday night, the London office of Jefferies & Co., a Los Angeles securities firm, traded AMR shares at prices as low as 80.@@@@1@24@@oe@2-2-2013
22443021@unknown@formal@none@1@S@Similarly, Delta Air Lines and USAir Group dropped 10.1% and 8.5%, respectively, on Friday and could weaken further.@@@@1@18@@oe@2-2-2013
22443022@unknown@formal@none@1@S@Over the weeked, however, two developments in other deals indicated that commerical banks and Wall Street firms still are willing to commit billions of dollars to finance takeover bids launched by major companies.@@@@1@33@@oe@2-2-2013
22443023@unknown@formal@none@1@S@Vitro S.A., a major Mexican glass maker, said yesterday that it agreed to buy Anchor Glass Container in a tender offer for $21.25 a share, sweetened from the original $20-a-share offer Vitro launched two months ago.@@@@1@36@@oe@2-2-2013
22443024@unknown@formal@none@1@S@On Friday, Anchor shares fell 1 1/4 to close at 18 1/2.@@@@1@12@@oe@2-2-2013
22443025@unknown@formal@none@1@S@For the broader market, the greatest significance of the Vitro-Anchor deal may be that it was put together late Friday night -- after the market rout -- and involves a $155 million temporary "bridge" loan from Donaldson, Lufkin & Jenrette Securities and a $139 million loan from Security Pacific National Bank.@@@@1@51@@oe@2-2-2013
22443026@unknown@formal@none@1@S@Moreover, to complete the entire Anchor Glass purchase and refinance existing debt, Donaldson said it is "highly confident" that it will be able to sell $400 million of junk bonds for Vitro, despite the current disarray in the junk bond market.@@@@1@41@@oe@2-2-2013
22443027@unknown@formal@none@1@S@Donaldson's statement isn't merely an idle boast, because those bonds will have to be sold before Donaldson's bridge loan can be paid back.@@@@1@23@@oe@2-2-2013
22443028@unknown@formal@none@1@S@Security Pacific, meanwhile, said it expects to arrange $430 million in bank loans for Vitro.@@@@1@15@@oe@2-2-2013
22443029@unknown@formal@none@1@S@In another takeover battle, a spokesman for McCaw Cellular Communications said yesterday that McCaw has been advised by three commercial banks that they remain "highly confident" they can arrange $4.5 billion of bank loans for McCaw's tender offer for about 45% of LIN Broadcasting, "notwithstanding recent events."@@@@1@47@@oe@2-2-2013
22443030@unknown@formal@none@1@S@McCaw is offering $125 a share for 22 million LIN shares, thereby challenging LIN's proposal to spin off its television properties, pay shareholders a $20-a-share special dividend and combine its cellular-telephone operations with BellSouth's cellular business.@@@@1@36@@oe@2-2-2013
22443031@unknown@formal@none@1@S@On Friday, LIN shares were among the few takeover issues that didn't fall much, dropping 5 1/2, or 4.9%, to close at 107 1/2.@@@@1@24@@oe@2-2-2013
22443032@unknown@formal@none@1@S@Traders and investment bankers said LIN shares weren't hurt much because BellSouth is viewed as a well-financed corporate buyer unlikely to be affected by skittishness among bankers or bond buyers.@@@@1@30@@oe@2-2-2013
22443033@unknown@formal@none@1@S@Investment bankers interviewed over the weekend see a silver lining for the merger business in the stock-market drop.@@@@1@18@@oe@2-2-2013
22443034@unknown@formal@none@1@S@Potential bidders for companies "were saying that things were beginning to look expensive," says Mr. Rattner of Lazard.@@@@1@18@@oe@2-2-2013
22443035@unknown@formal@none@1@S@"Nothing makes things look cheaper than a 200-point drop in the Dow," Mr. Rattner says.@@@@1@15@@oe@2-2-2013
22443036@unknown@formal@none@1@S@"Just as there are people waiting to become bargain hunters in the stock market, there are people waiting to become bargain hunters in the deal market."@@@@1@26@@oe@2-2-2013
22443037@unknown@formal@none@1@S@Investment bankers expect most of those bargain hunters to be well-heeled corporations.@@@@1@12@@oe@2-2-2013
22443038@unknown@formal@none@1@S@"In the past, corporate buyers were often discouraged from making bids because of competition from LBO firms, which were often prepared to outbid" the corporations, says J. Tomilson Hill, head of mergers and acquisitions at Shearson Lehman Hutton.@@@@1@38@@oe@2-2-2013
22443039@unknown@formal@none@1@S@Now, "corporate buyers should be willing to re-enter the acquisition market because the competition from junkbond-financed buyers has been reduced."@@@@1@20@@oe@2-2-2013
22443040@unknown@formal@none@1@S@Many takeover stocks plunged Friday, as speculators retained their confidence in corporate buyers but fled from the socalled whisper stocks, the targets of rumored deals.@@@@1@25@@oe@2-2-2013
22443041@unknown@formal@none@1@S@Columbia Pictures Entertainment, which has agreed to a friendly $27-a-share bid from Sony of Japan, fell only 1/8 to close at 26 5/8.@@@@1@23@@oe@2-2-2013
22443042@unknown@formal@none@1@S@But several stocks long rumored to be ripe for a takeover or restructuring fell 10% or more.@@@@1@17@@oe@2-2-2013
22443043@unknown@formal@none@1@S@They include USX, down 11.7%; Upjohn, down 11.1%; Campbell Soup, down 11%; Paramount Communications, off 10.3%; Woolworth, down 10.2%; Delta Air Lines, down 10.1%, and MCA, down 9.7%.@@@@1@28@@oe@2-2-2013
22443044@unknown@formal@none@1@S@The market -- and investment bankers -- are even less sanguine about companies that have had at least one bid, merger agreement or restructuring plan fall through already.@@@@1@28@@oe@2-2-2013
22443045@unknown@formal@none@1@S@Given the weakness in both the junk bond market and the stock market, traders fear that these transactions may be revised yet again.@@@@1@23@@oe@2-2-2013
22443046@unknown@formal@none@1@S@Examples include Kollmorgen, whose agreement to be acquired for $25 a share by Vernitron collapsed last month.@@@@1@17@@oe@2-2-2013
22443047@unknown@formal@none@1@S@Kollmorgen shares fell nearly 20% on Friday to close at 12 7/8.@@@@1@12@@oe@2-2-2013
22443048@unknown@formal@none@1@S@Ramada, which first delayed and then shelved a $400 million junk bond sale that was designed to help finance a restructuring, fell 15.6% to close at 9 1/2.@@@@1@28@@oe@2-2-2013
22443049@unknown@formal@none@1@S@Ramada has said it hopes to propose a new restructuring plan but hasn't indicated when it will do so.@@@@1@19@@oe@2-2-2013
22443050@unknown@formal@none@1@S@Shares of American Medical International, which agreed last week to accept a lower price from a buy-out group that includes First Boston Corp. and the Pritzker family of Chicago, fell 15.8% on Friday to close at 20.@@@@1@37@@oe@2-2-2013
22443051@unknown@formal@none@1@S@The buy-out group is offering $26.50 a share for 63 million American Medical shares, down from its offer in July of $28 a share for 68.8 million shares.@@@@1@28@@oe@2-2-2013
22443052@unknown@formal@none@1@S@But investment bankers say the market may have oversold some takeover-related stocks.@@@@1@12@@oe@2-2-2013
22443053@unknown@formal@none@1@S@Hilton Hotels, for example, was among the worst-hit issues, falling 20.2% to close at 85, down 21 1/2 on Friday.@@@@1@20@@oe@2-2-2013
22443054@unknown@formal@none@1@S@Hilton currently is soliciting bids for a sale of part or all of its hotel and casino businesses.@@@@1@18@@oe@2-2-2013
22443055@unknown@formal@none@1@S@People familiar with Hilton said over the weekend that the depth of the sell-off in Hilton shares was unwarranted because none of the likely buyers would be dependent on junk-bond financing.@@@@1@31@@oe@2-2-2013
22443056@unknown@formal@none@1@S@However, they conceded that some potential bidders would rely on bank loans and would be hurt if the troubles of the UAL buy-out group signified a general unwillingness among banks to provide credit for debt-financed takeovers.@@@@1@36@@oe@2-2-2013
22443057@unknown@formal@none@1@S@Hilton officials said they weren't worried about the drop in the company's stock.@@@@1@13@@oe@2-2-2013
22443058@unknown@formal@none@1@S@William Lebo, Hilton's general counsel, said plans to consider a sale of the company or some of its assets are "on track" for what has been described previously as "a slow and deliberate process."@@@@1@34@@oe@2-2-2013
22443059@unknown@formal@none@1@S@"I can't believe that any potential buyer for Hilton would be affected by one day's trading," Mr. Lebo said.@@@@1@19@@oe@2-2-2013
22443060@unknown@formal@none@1@S@But the stock market as a whole, bolstered as it is by takeover speculation, remains vulnerable to any further pullback by takeover financiers, both in the junkbond market and among commercial banks.@@@@1@32@@oe@2-2-2013
22443061@unknown@formal@none@1@S@For debt-ridden suitors, "the takeover game has been over for some time," says New York money manager Neil Weisman of Chilmark Capital, who has been keeping 85% of his portfolio in cash.@@@@1@32@@oe@2-2-2013
22443062@unknown@formal@none@1@S@"The market is just waking up to that point."@@@@1@9@@oe@2-2-2013
22443063@unknown@formal@none@1@S@Pauline Yoshihashi in Los Angeles contributed to this column.@@@@1@9@@oe@2-2-2013
22444001@unknown@formal@none@1@S@Of all the one-time expenses incurred by a corporation or professional firm, few are larger or longer term than the purchase of real estate or the signing of a commercial lease.@@@@1@31@@oe@2-2-2013
22444002@unknown@formal@none@1@S@To take full advantage of the financial opportunities in this commitment, however, the corporation or professional firm must do more than negotiate the best purchase price or lease terms.@@@@1@29@@oe@2-2-2013
22444003@unknown@formal@none@1@S@It must also evaluate the real-estate market in the chosen location from a new perspective.@@@@1@15@@oe@2-2-2013
22444004@unknown@formal@none@1@S@Specifically, it must understand how real-estate markets overreact to shifts in regional economies and then take advantage of these opportunities.@@@@1@20@@oe@2-2-2013
22444005@unknown@formal@none@1@S@When a regional economy catches cold, the local real-estate market gets pneumonia.@@@@1@12@@oe@2-2-2013
22444006@unknown@formal@none@1@S@In other words, real-estate market indicators, such as building permits and leasing activity, plummet much further than a local economy in recession.@@@@1@22@@oe@2-2-2013
22444007@unknown@formal@none@1@S@This was seen in the late 1960s in Los Angeles and the mid-1970s in New York.@@@@1@16@@oe@2-2-2013
22444008@unknown@formal@none@1@S@But the reverse is also true: When a region's economy rebounds from a slowdown, these real-estate indicators will rebound far faster than the improving economy.@@@@1@25@@oe@2-2-2013
22444009@unknown@formal@none@1@S@Why do local real-estate markets overreact to regional economic cycles?@@@@1@10@@oe@2-2-2013
22444010@unknown@formal@none@1@S@Because real-estate purchases and leases are such major long-term commitments that most companies and individuals make these decisions only when confident of future economic stability and growth.@@@@1@27@@oe@2-2-2013
22444011@unknown@formal@none@1@S@Metropolitan Detroit was written off economically during the early 1980s, as the domestic auto industry suffered a serious sales depression and adjustment.@@@@1@22@@oe@2-2-2013
22444012@unknown@formal@none@1@S@Area employment dropped by 13% from its 1979 peak and retail sales were down 14%.@@@@1@15@@oe@2-2-2013
22444013@unknown@formal@none@1@S@However, the real-estate market was hurt even more.@@@@1@8@@oe@2-2-2013
22444014@unknown@formal@none@1@S@For example, residential building permits in the trough year of 1982 were off 76% from the 1979 peak level.@@@@1@19@@oe@2-2-2013
22444015@unknown@formal@none@1@S@Once metropolitan Detroit's economy rallied in the mid-1980s, real estate rebounded.@@@@1@11@@oe@2-2-2013
22444016@unknown@formal@none@1@S@Building permits, for example, soared a staggering 400% between 1982 and the peak year of 1986.@@@@1@16@@oe@2-2-2013
22444017@unknown@formal@none@1@S@Where, savvy corporations and professional firms are now asking, are today's opportunities?@@@@1@12@@oe@2-2-2013
22444018@unknown@formal@none@1@S@Look no further than metropolitan Houston and Denver, two of the most depressed, overbuilt and potentially undervalued real-estate markets in the nation.@@@@1@22@@oe@2-2-2013
22444019@unknown@formal@none@1@S@Of course, some observers have touted Houston and Denver for the past five years as a counter-cyclical play.@@@@1@18@@oe@2-2-2013
22444020@unknown@formal@none@1@S@But now appears to be the time to act.@@@@1@9@@oe@2-2-2013
22444021@unknown@formal@none@1@S@Metropolitan Houston's economy did drop and then flatten in the years after its 1982 peak.@@@@1@15@@oe@2-2-2013
22444022@unknown@formal@none@1@S@In the mid-1980s, employment was down as much as 5% from the 1982 peak and retail sales were off 13%.@@@@1@20@@oe@2-2-2013
22444023@unknown@formal@none@1@S@The real-estate market suffered even more severe setbacks.@@@@1@8@@oe@2-2-2013
22444024@unknown@formal@none@1@S@Office construction dropped 97%.@@@@1@4@@oe@2-2-2013
22444025@unknown@formal@none@1@S@The vacancy rate soared more than 20% in nearly every product category, and more than 30% of office space was vacant.@@@@1@21@@oe@2-2-2013
22444026@unknown@formal@none@1@S@To some observers, the empty office buildings of Houston's "see-through skyline" were indicative of a very troubled economy.@@@@1@18@@oe@2-2-2013
22444027@unknown@formal@none@1@S@As usual, the real-estate market had overreacted.@@@@1@7@@oe@2-2-2013
22444028@unknown@formal@none@1@S@Actually, the region's economy retained a firm foundation.@@@@1@8@@oe@2-2-2013
22444029@unknown@formal@none@1@S@Metropolitan Houston's population has held steady over the past six years.@@@@1@11@@oe@2-2-2013
22444030@unknown@formal@none@1@S@And personal income, after slumping in the mid-1980s, has returned to its 1982 level in real dollar terms.@@@@1@18@@oe@2-2-2013
22444031@unknown@formal@none@1@S@Today, metropolitan Houston's real-estate market is poised for a significant turnaround.@@@@1@11@@oe@2-2-2013
22444032@unknown@formal@none@1@S@More than 42,000 jobs were added in metro Houston last year, primarily in biotechnology, petrochemical processing, and the computer industry.@@@@1@20@@oe@2-2-2013
22444033@unknown@formal@none@1@S@This growth puts Houston in the top five metro areas in the nation last year.@@@@1@15@@oe@2-2-2013
22444034@unknown@formal@none@1@S@And forecasts project a 2.5% to 3% growth rate in jobs over the next few years -- nearly twice the national average.@@@@1@22@@oe@2-2-2013
22444035@unknown@formal@none@1@S@Denver is another metropolitan area where the commercial real-estate market has overreacted to the region's economic trends, although Denver has not experienced as severe an economic downturn as Houston.@@@@1@29@@oe@2-2-2013
22444036@unknown@formal@none@1@S@By some measures, metropolitan Denver's economy has actually improved in the past four years.@@@@1@14@@oe@2-2-2013
22444037@unknown@formal@none@1@S@Its population has continued to increase since 1983, the peak year of the economic cycle.@@@@1@15@@oe@2-2-2013
22444038@unknown@formal@none@1@S@Employment is now 4% higher than in 1983.@@@@1@8@@oe@2-2-2013
22444039@unknown@formal@none@1@S@Buying income in real dollars actually increased 15% between 1983 and 1987 (the most recent year available).@@@@1@17@@oe@2-2-2013
22444040@unknown@formal@none@1@S@The rates of increase, however, are less than the rapid growth of the boom years, and this has resulted in a loss of confidence in the economy.@@@@1@27@@oe@2-2-2013
22444041@unknown@formal@none@1@S@In a self-fulfilling prophecy, therefore, the region's real-estate market all but collapsed in recent years.@@@@1@15@@oe@2-2-2013
22444042@unknown@formal@none@1@S@Housing building permits are down more than 75% from their 1983 peaks.@@@@1@12@@oe@2-2-2013
22444043@unknown@formal@none@1@S@Although no one can predict when metropolitan Denver's real-estate market will rebound, major public works projects costing several billion dollars are under way or planned -- such as a new convention center, a major beltway encircling the metropolitan area, and a new regional airport.@@@@1@44@@oe@2-2-2013
22444044@unknown@formal@none@1@S@When Denver's regional economy begins to grow faster -- such a recovery could occur as early as next year -- business and consumer confidence will return, and the resulting explosion of real-estate activity will dwarf the general economic rebound.@@@@1@39@@oe@2-2-2013
22444045@unknown@formal@none@1@S@What real-estate strategy should one follow in a metropolitan area whose economic health is not as easy to determine as Houston's or Denver's?@@@@1@23@@oe@2-2-2013
22444046@unknown@formal@none@1@S@Generally, overcapacity in commercial real estate is dropping from its mid-1980s peak, even in such economically healthy metropolitan areas as Washington, New York and Los Angeles.@@@@1@26@@oe@2-2-2013
22444047@unknown@formal@none@1@S@Vacancy rates in the 15% to 19% range today may easily rise to the low to mid-20% range in a couple of years.@@@@1@23@@oe@2-2-2013
22444048@unknown@formal@none@1@S@Under these conditions, even a flattening out of economic growth -- "catching cold" -- in the healthy metropolitan areas will create significant opportunities for corporations and professional service firms looking for bargains as the realestate industry catches pneumonia.@@@@1@38@@oe@2-2-2013
22444049@unknown@formal@none@1@S@Those looking for real-estate bargains in distressed metropolitan areas should lock in leases or buy now; those looking in healthy metropolitan areas should take a short-term (three-year) lease and wait for the bargains ahead.@@@@1@34@@oe@2-2-2013
22444050@unknown@formal@none@1@S@Mr. Leinberger is managing partner of a real-estate advisory firm based in Beverly Hills, Calif.@@@@1@15@@oe@2-2-2013
22445001@unknown@formal@none@1@S@Kysor Industrial Corp. said it expects its third-quarter net earnings to be between two cents and four cents a share, compared with 61 cents a share a year ago.@@@@1@29@@oe@2-2-2013
22445002@unknown@formal@none@1@S@Analysts had been projecting that the company's earnings would be between 25 cents and 30 cents a share.@@@@1@18@@oe@2-2-2013
22445003@unknown@formal@none@1@S@The year-earlier third-quarter earnings amounted to $4.1 million.@@@@1@8@@oe@2-2-2013
22445004@unknown@formal@none@1@S@The company said a drop in activity in the powerboat industry reduced sales volume at its two marine-related operations.@@@@1@19@@oe@2-2-2013
22445005@unknown@formal@none@1@S@Also, the company said its commercial products operation failed to meet forecasts.@@@@1@12@@oe@2-2-2013
22445006@unknown@formal@none@1@S@Kysor, a maker of heavy-duty truck and commercial refrigeration equipment, said it expects its fourth-quarter earnings to be more closely in line with usual levels, which are between 30 cents and 50 cents a share.@@@@1@35@@oe@2-2-2013
22446001@unknown@formal@none@1@S@Common Cause asked both the Senate Ethics Committee and the Justice Department to investigate $1 million in political gifts by Arizona businessman Charles Keating to five U.S. senators who interceded with thrift-industry regulators for him.@@@@1@35@@oe@2-2-2013
22446002@unknown@formal@none@1@S@Mr. Keating is currently the subject of a $1.1 billion federal anti-racketeering lawsuit accusing him of bleeding off assets of a California thrift he controlled, Lincoln Savings & Loan Association, and driving it into insolvency.@@@@1@35@@oe@2-2-2013
22446003@unknown@formal@none@1@S@Fred Wertheimer -- president of Common Cause, the self-styled citizens lobby -- said Mr. Keating already has conceded attempting to buy influence with the lawmakers -- Democratic Sens. Dennis DeConcini of Arizona, Alan Cranston of California, John Glenn of Ohio and Donald Riegle of Michigan; and GOP Sen. John McCain of Arizona.@@@@1@52@@oe@2-2-2013
22446004@unknown@formal@none@1@S@Mr. Wertheimer based this on a statement by Mr. Keating that was quoted in a Wall Street Journal story in April: "One question . . . had to do with whether my financial support in any way influenced several political figures to take up my cause.@@@@1@46@@oe@2-2-2013
22446005@unknown@formal@none@1@S@I want to say in the most forceful way I can: I certainly hope so."@@@@1@15@@oe@2-2-2013
22446006@unknown@formal@none@1@S@In a highly unusual meeting in Sen. DeConcini's office in April 1987, the five senators asked federal regulators to ease up on Lincoln.@@@@1@23@@oe@2-2-2013
22446007@unknown@formal@none@1@S@According to notes taken by one of the participants at the meeting, the regulators said Lincoln was gambling dangerously with depositors' federally insured money and was "a ticking time bomb."@@@@1@30@@oe@2-2-2013
22446008@unknown@formal@none@1@S@Mr. Keating had complained that the regulators were being too zealous.@@@@1@11@@oe@2-2-2013
22446009@unknown@formal@none@1@S@The notes show that Sen. DeConcini called the Federal Home Loan Bank Board's regulations "grossly unfair," and that Sen. Glenn insisted that Mr. Keating's thrift was "viable and profitable."@@@@1@29@@oe@2-2-2013
22446010@unknown@formal@none@1@S@For the next two years, the Bank Board, which at the time was the agency responsible for regulating thrifts, failed to act -- even after federal auditors warned in May 1987 that Mr. Keating had caused Lincoln to become insolvent.@@@@1@40@@oe@2-2-2013
22446011@unknown@formal@none@1@S@Lincoln's parent company, American Continental Corp., entered bankruptcy-law proceedings this April 13, and regulators seized the thrift the next day.@@@@1@20@@oe@2-2-2013
22446012@unknown@formal@none@1@S@The newly formed Resolution Trust Corp., successor to the Bank Board, filed suit against Mr. Keating and several others on Sept. 15.@@@@1@22@@oe@2-2-2013
22446013@unknown@formal@none@1@S@Mr. Keating has filed his own suit, alleging that his property was taken illegally.@@@@1@14@@oe@2-2-2013
22446014@unknown@formal@none@1@S@The cost to taxpayers of Lincoln's collapse has been estimated at as much as $2.5 billion.@@@@1@16@@oe@2-2-2013
22446015@unknown@formal@none@1@S@Details of the affair have become public gradually over the past two years, mostly as a result of reporting by several newspapers.@@@@1@22@@oe@2-2-2013
22446016@unknown@formal@none@1@S@In the midst of his 1988 re-election campaign, Sen. Riegle, chairman of the Senate Banking Committee, returned $76,000 in contributions after a Detroit newspaper said that Mr. Keating had gathered the money for him about two weeks before the meeting with regulators.@@@@1@42@@oe@2-2-2013
22446017@unknown@formal@none@1@S@Sen. DeConcini, after months of fending off intense press criticism, returned $48,000 only last month, shortly after the government formally accused Mr. Keating of defrauding Lincoln.@@@@1@26@@oe@2-2-2013
22446018@unknown@formal@none@1@S@In addition, Sen. McCain last week disclosed that he belatedly had paid $13,433 to American Continental as reimbursement for trips he and his family took aboard the corporate jet to Mr. Keating's vacation home at Cat Cay, the Bahamas, from 1984 through 1986.@@@@1@43@@oe@2-2-2013
22446019@unknown@formal@none@1@S@Sen. McCain said he had meant to pay for the trips at the time but that the matter "fell between the cracks."@@@@1@22@@oe@2-2-2013
22446020@unknown@formal@none@1@S@Mr. Keating, his family members and associates also donated $112,000 to Sen. McCain's congressional campaigns over the years, according to press accounts.@@@@1@22@@oe@2-2-2013
22446021@unknown@formal@none@1@S@But Sen. McCain says Mr. Keating broke off their friendship abruptly in 1987, because the senator refused to press the thrift executive's case as vigorously as Mr. Keating wanted.@@@@1@29@@oe@2-2-2013
22446022@unknown@formal@none@1@S@"He became very angry at that, left my office and told a number of people that I was a wimp," Sen. McCain recalls.@@@@1@23@@oe@2-2-2013
22446023@unknown@formal@none@1@S@In July, California newspapers disclosed that Mr. Keating gave $850,000 in corporate funds to three tax-exempt voter registration organizations in 1987 and 1988 at the behest of Sen. Cranston, who conceded that soliciting the money was "a pretty stupid thing to do politically."@@@@1@43@@oe@2-2-2013
22446024@unknown@formal@none@1@S@In addition, Sen. Cranston received $47,000 in campaign donations through Mr. Keating, and the California Democratic party received $85,000 in corporate donations for a 1986 get-out-the-vote drive that benefited the senator's re-election campaign that year.@@@@1@35@@oe@2-2-2013
22446025@unknown@formal@none@1@S@Also in July, Ohio newspapers disclosed $200,000 in corporate donations by Mr. Keating to the National Council on Public Policy, a political committee controlled by Sen. Glenn.@@@@1@27@@oe@2-2-2013
22446026@unknown@formal@none@1@S@That was in addition to $34,000 in direct campaign donations arranged by Mr. Keating to the Ohio senator.@@@@1@18@@oe@2-2-2013
22446027@unknown@formal@none@1@S@Mr. Wertheimer said the Senate Ethics Committee should hire a special outside counsel to conduct an investigation, as was done in the case of former House Speaker James Wright.@@@@1@29@@oe@2-2-2013
22446028@unknown@formal@none@1@S@Wilson Abney, staff director of the ethics panel, wouldn't comment.@@@@1@10@@oe@2-2-2013
22446029@unknown@formal@none@1@S@Sen. Riegle said he would cooperate with any inquiry, but that his conduct had been "entirely proper."@@@@1@17@@oe@2-2-2013
22446030@unknown@formal@none@1@S@Sen. McCain said he had been "deeply concerned" at the time of the meeting that it might seem to be improper, but decided it was "entirely appropriate" for him to seek fair treatment for a constituent.@@@@1@36@@oe@2-2-2013
22446031@unknown@formal@none@1@S@Sen. Glenn said he had already made a complete disclosure of his role in the affair and "I am completely satisfied to let this matter rest in the hands of the Senate Ethics Committee."@@@@1@34@@oe@2-2-2013
22446032@unknown@formal@none@1@S@Sen. DeConcini said, "When all is said and done, I expect to be fully exonerated."@@@@1@15@@oe@2-2-2013
22446033@unknown@formal@none@1@S@Sen. Cranston, who had already volunteered his help to the Federal Bureau of Investigation in any investigation of Mr. Keating, portrayed his role in 1987 as prodding regulators to act.@@@@1@30@@oe@2-2-2013
22446034@unknown@formal@none@1@S@"Why didn't the Bank Board act sooner?" he said.@@@@1@9@@oe@2-2-2013
22446035@unknown@formal@none@1@S@"That is what Common Cause should ask be investigated.@@@@1@9@@oe@2-2-2013
22447001@unknown@formal@none@1@S@Trinity Industries Inc. said it reached a preliminary agreement to manufacture 1,000 coal rail cars for Norfolk Southern Corp.@@@@1@19@@oe@2-2-2013
22447002@unknown@formal@none@1@S@Trinity estimated the value of the pact at more than $40 million.@@@@1@12@@oe@2-2-2013
22447003@unknown@formal@none@1@S@Trinity said it plans to begin delivery of the rail cars in the first quarter of 1990.@@@@1@17@@oe@2-2-2013
22447004@unknown@formal@none@1@S@It said the 1,000 rail cars are in addition to the 1,450 coal rail cars presently being produced for Norfolk Southern, a Norfolk, Va.-based railroad concern.@@@@1@26@@oe@2-2-2013
22448001@unknown@formal@none@1@S@When China opened its doors to foreign investors in 1979, toy makers from Hong Kong were among the first to march in.@@@@1@22@@oe@2-2-2013
22448002@unknown@formal@none@1@S@Today, with about 75% of the companies' products being made in China, the chairman of the Hong Kong Toys Council, Dennis Ting, has suggested a new sourcing label: "Made in China by Hong Kong Companies."@@@@1@35@@oe@2-2-2013
22448003@unknown@formal@none@1@S@The toy makers were pushed across the border by rising labor and land costs in the British colony.@@@@1@18@@oe@2-2-2013
22448004@unknown@formal@none@1@S@But in the wake of the shootings in Beijing on June 4, the Hong Kong toy industry is worrying about its strong dependence on China.@@@@1@25@@oe@2-2-2013
22448005@unknown@formal@none@1@S@Although the manufacturers stress that production hasn't been affected by China's political turmoil, they are looking for additional sites.@@@@1@19@@oe@2-2-2013
22448006@unknown@formal@none@1@S@The toy makers, and their foreign buyers, cite uncertainty about China's economic and political policies.@@@@1@15@@oe@2-2-2013
22448007@unknown@formal@none@1@S@"Nobody wants to have all his eggs in one basket," says David Yeh, chairman and chief executive officer of International Matchbox Group Ltd.@@@@1@23@@oe@2-2-2013
22448008@unknown@formal@none@1@S@Indeed, Matchbox and other leading Hong Kong toy makers were setting up factories in Southeast Asia, especially in Thailand, long before the massacre.@@@@1@23@@oe@2-2-2013
22448009@unknown@formal@none@1@S@Their steps were partly prompted by concern over a deterioration of business conditions in southern China.@@@@1@16@@oe@2-2-2013
22448010@unknown@formal@none@1@S@By diversifying supply sources, the toy makers don't intend to withdraw from China, manufacturers and foreign buyers say.@@@@1@18@@oe@2-2-2013
22448011@unknown@formal@none@1@S@It wouldn't be easy to duplicate quickly the manufacturing capacity built up in southern China during the past decade.@@@@1@19@@oe@2-2-2013
22448012@unknown@formal@none@1@S@A supply of cheap labor and the access to Hong Kong's port, airport, banks and support industries, such as printing companies, have made China's Guangdong province a premier manufacturing site.@@@@1@30@@oe@2-2-2013
22448013@unknown@formal@none@1@S@"South China is the most competitive source of toys in the world," says Henry Hu, executive director of Wah Shing Toys Consolidated Ltd.@@@@1@23@@oe@2-2-2013
22448014@unknown@formal@none@1@S@Hong Kong trade figures illustrate the toy makers' reliance on factories across the border.@@@@1@14@@oe@2-2-2013
22448015@unknown@formal@none@1@S@In 1988, exports of domestically produced toys and games fell 19% from 1987, to HK$10.05 billion (US$1.29 billion).@@@@1@18@@oe@2-2-2013
22448016@unknown@formal@none@1@S@But re-exports, mainly from China, jumped 75%, to HK$15.92 billion.@@@@1@10@@oe@2-2-2013
22448017@unknown@formal@none@1@S@In 1989's first seven months, domestic exports fell 29%, to HK$3.87 billion, while re-exports rose 56%, to HK$11.28 billion.@@@@1@19@@oe@2-2-2013
22448018@unknown@formal@none@1@S@Manufacturers say there is no immediate substitute for southern China, where an estimated 120,000 people are employed by the toy industry.@@@@1@21@@oe@2-2-2013
22448019@unknown@formal@none@1@S@"For the next few years, like it or not, China is going to be the main supplier," says Edmund Young, vice president of Perfecta Enterprises Ltd., one of the first big Hong Kong toy makers to move across the border.@@@@1@40@@oe@2-2-2013
22448020@unknown@formal@none@1@S@In the meantime, as manufacturers and buyers seek new sites, they are focusing mainly on Southeast Asia.@@@@1@17@@oe@2-2-2013
22448021@unknown@formal@none@1@S@Several big companies have established manufacturing joint ventures in Thailand, including Matchbox, Wah Shing and Kader Industrial Co., the toy manufacturer headed by Mr. Ting.@@@@1@25@@oe@2-2-2013
22448022@unknown@formal@none@1@S@Malaysia, the Philippines and Indonesia also are being studied.@@@@1@9@@oe@2-2-2013
22448023@unknown@formal@none@1@S@With the European Community set to remove its internal trade barriers in 1992, several Hong Kong companies are beginning to consider Spain, Portugal and Greece as possible manufacturing sites.@@@@1@29@@oe@2-2-2013
22448024@unknown@formal@none@1@S@Worries about China came just as Hong Kong's toy industry was recovering from a 1987 sales slump and bankruptcy filings by two major U.S. companies, Worlds of Wonder Inc. and Coleco Industries Inc.@@@@1@33@@oe@2-2-2013
22448025@unknown@formal@none@1@S@Hong Kong manufacturers say large debt writeoffs and other financial problems resulting from the 1987 difficulties chastened the local industry, causing it to tighten credit policies and financial management.@@@@1@29@@oe@2-2-2013
22448026@unknown@formal@none@1@S@The industry regards last year and this year as a period of recovery that will lead to improved results.@@@@1@19@@oe@2-2-2013
22448027@unknown@formal@none@1@S@Still, they long for a "mega-hit" toy to excite retail sales in the U.S., Hong Kong's biggest market for toys and games.@@@@1@22@@oe@2-2-2013
22448028@unknown@formal@none@1@S@The closest thing the colony's companies have to a U.S. mega-hit this year is the Teenage Mutant Ninja Turtles series of action figures manufactured by Playmates Holdings Ltd.@@@@1@28@@oe@2-2-2013
22448029@unknown@formal@none@1@S@Introduced in mid-1988, the 15-centimeter-tall plastic turtles are based on an American comic book and television series.@@@@1@17@@oe@2-2-2013
22448030@unknown@formal@none@1@S@Paul Kwan, managing director of Playmates, says 10 million Ninja Turtles have been sold, placing the reptilian warriors among the 10 biggest-selling toys in the U.S.@@@@1@26@@oe@2-2-2013
22448031@unknown@formal@none@1@S@Should sales continue to be strong through the Christmas season, which accounts for about 60% of U.S. retail toy sales, Mr. Kwan said the Ninja Turtles could make 1989 a record sales year for Playmates.@@@@1@35@@oe@2-2-2013
22448032@unknown@formal@none@1@S@Other Hong Kong manufacturers expect their results to improve only slightly this year from 1988.@@@@1@15@@oe@2-2-2013
22448033@unknown@formal@none@1@S@Besides the lack of a fast-selling product, they cite the continued dominance of the U.S. market by Nintendo Entertainment System, an expensive video game made by Nintendo Co. of Japan.@@@@1@30@@oe@2-2-2013
22448034@unknown@formal@none@1@S@Nintendo buyers have little money left to spend on other products.@@@@1@11@@oe@2-2-2013
22448035@unknown@formal@none@1@S@Many of the toy makers' problems started well before June 4 as a result of overstrained infrastructure and Beijing's austerity programs launched late last year.@@@@1@25@@oe@2-2-2013
22448036@unknown@formal@none@1@S@Toy makers complain that electricity in Guangdong has been provided only three days a week in recent months, down from five days a week, as the province's rapid industrialization has outstripped its generating capacity.@@@@1@34@@oe@2-2-2013
22448037@unknown@formal@none@1@S@Manufacturers are upgrading standby power plants.@@@@1@6@@oe@2-2-2013
22448038@unknown@formal@none@1@S@Bank credit for China investments all but dried up following June 4.@@@@1@12@@oe@2-2-2013
22448039@unknown@formal@none@1@S@Also, concern exists that the harder-line Beijing leadership will tighten its control of Guangdong, which has been the main laboratory for the open-door policy and economic reforms.@@@@1@27@@oe@2-2-2013
22448040@unknown@formal@none@1@S@But, toy manufacturers and other industrialists say Beijing will be restrained from tightening controls on export-oriented southern China.@@@@1@18@@oe@2-2-2013
22448041@unknown@formal@none@1@S@They say China's trade deficit is widening and the country is too short of foreign exchange for it to hamper production in Guangdong.@@@@1@23@@oe@2-2-2013
22448042@unknown@formal@none@1@S@"The Chinese leaders have to decide whether they want control or whether the want exports," says Mr. Kwan of Playmates.@@@@1@20@@oe@2-2-2013
22449001@unknown@formal@none@1@S@The Bush administration, urging the Supreme Court to give states more leeway to restrict abortions, said minors haven't any right to abortion without the consent of their parents.@@@@1@28@@oe@2-2-2013
22449002@unknown@formal@none@1@S@Solicitor General Kenneth Starr argued that the 1973 Supreme Court decision, Roe vs. Wade, recognizing a constitutional right to abortion, was incorrect.@@@@1@22@@oe@2-2-2013
22449003@unknown@formal@none@1@S@He also argued that the high court was wrong in 1976 to rule that minors have a right to abortion that can't be absolutely vetoed by their parents.@@@@1@28@@oe@2-2-2013
22449004@unknown@formal@none@1@S@The administration's position was outlined in a friend-of-the-court brief filed in one of three abortion cases the Supreme Court will hear argued and will decide this term.@@@@1@27@@oe@2-2-2013
22449005@unknown@formal@none@1@S@The administration filed the brief in an appeal involving a Minnesota law that requires that both parents of a minor be notified before she may have an abortion.@@@@1@28@@oe@2-2-2013
22449006@unknown@formal@none@1@S@The administration urged the justices to adopt a legal standard suggested by Chief Justice William Rehnquist last July when the high court upheld Missouri's abortion restrictions.@@@@1@26@@oe@2-2-2013
22449007@unknown@formal@none@1@S@Under that standard, which garnered the votes of only three of the nine justices, a state restriction of abortion is constitutional if the state has a "reasonable" justification for adopting it.@@@@1@31@@oe@2-2-2013
22449008@unknown@formal@none@1@S@That is a much easier standard for a state to satisfy than the Supreme Court's test since 1973, which requires a state to have a "compelling" reason for restricting abortion.@@@@1@30@@oe@2-2-2013
22449009@unknown@formal@none@1@S@On the provisions of the Minnesota law, the Bush administration said that requiring that both parents be notified is a reasonable regulation, and that there is no need to have an alternative that allows minors to go to court for a judge's permission instead.@@@@1@44@@oe@2-2-2013
22449010@unknown@formal@none@1@S@The case, Hodgson vs. Minnesota, will be argued Nov. 29.@@@@1@10@@oe@2-2-2013
22450001@unknown@formal@none@1@S@Aluminum Co. of America, hit hard by the strength of the dollar overseas, said net income for the third quarter dropped 3.2% to $219 million, or $2.46 a share.@@@@1@29@@oe@2-2-2013
22450002@unknown@formal@none@1@S@The nation's No. 1 aluminum maker earned $226.3 million, or $2.56 a share, a year earlier.@@@@1@16@@oe@2-2-2013
22450003@unknown@formal@none@1@S@Revenue rose 11% to $2.83 billion from $2.56 billion.@@@@1@9@@oe@2-2-2013
22450004@unknown@formal@none@1@S@Analysts, who were expecting Alcoa to post around $2.70 to $3 a share, were surprised at the lackluster third-quarter results.@@@@1@20@@oe@2-2-2013
22450005@unknown@formal@none@1@S@"It's disappointing," said William Siedenburg, an analyst with Smith Barney, Harris Upham & Co.@@@@1@14@@oe@2-2-2013
22450006@unknown@formal@none@1@S@Much of the earnings decline was led by currency-exchange rate adjustments, which affected the bottom line by $15.3 million, or 17 cents a share, compared with $3.6 million, or four cents a share, the previous year.@@@@1@36@@oe@2-2-2013
22450007@unknown@formal@none@1@S@Lower prices for aluminum ingots and certain alloy products and a shift in the product mix also contributed to lower earnings, the company said.@@@@1@24@@oe@2-2-2013
22450008@unknown@formal@none@1@S@"In addition, costs were higher partly due to scheduled plant outages for modernization work," the company said.@@@@1@17@@oe@2-2-2013
22450009@unknown@formal@none@1@S@Excluding the higher tax rate, which rose two percentage points to 38%, and the negative exchange rate adjustment, the company would have met analysts' expectations, said R. Wayne Atwell, an analyst with Goldman, Sachs & Co.@@@@1@36@@oe@2-2-2013
22450010@unknown@formal@none@1@S@Noting that the third quarter is usually the aluminum industry's slowest, Mr. Atwell added, "the third quarter is never a bang up period for them anyway."@@@@1@26@@oe@2-2-2013
22450011@unknown@formal@none@1@S@Nevertheless, the company said shipments were up slightly to 679,000 metric tons from 671,000, buffing the impact of the unexpected earning decline.@@@@1@22@@oe@2-2-2013
22450012@unknown@formal@none@1@S@The results were announced after the stock market closed.@@@@1@9@@oe@2-2-2013
22450013@unknown@formal@none@1@S@In New York Stock Exchange composite trading Friday, Alcoa closed at $72 a share, down $4.75, in a sharply lower market.@@@@1@21@@oe@2-2-2013
22451001@unknown@formal@none@1@S@For 20 years, federal rules have barred the three major television networks from sharing in one of the most lucrative and fastest-growing parts of the television business.@@@@1@27@@oe@2-2-2013
22451002@unknown@formal@none@1@S@And for six years, NBC, ABC and CBS have negotiated with Hollywood studios in a futile attempt to change that.@@@@1@20@@oe@2-2-2013
22451003@unknown@formal@none@1@S@But with foreign companies snapping up U.S. movie studios, the networks are pressing their fight harder than ever.@@@@1@18@@oe@2-2-2013
22451004@unknown@formal@none@1@S@They hope the foreign deals will divide the Hollywood opposition and prod Congress to push for ending federal rules that prohibit the networks from grabbing a piece of rerun sales and owning part of the shows they put on the air.@@@@1@41@@oe@2-2-2013
22451005@unknown@formal@none@1@S@Even network executives, however, admit privately that victory -- either in Congress or in talks with the studios -- is highly doubtful any time soon.@@@@1@25@@oe@2-2-2013
22451006@unknown@formal@none@1@S@And so the networks also are pushing for new ways to sidestep the "fin-syn" provisions, known formally as the Financial Interest and Syndication Rules.@@@@1@24@@oe@2-2-2013
22451007@unknown@formal@none@1@S@That became clear last week with the disclosure that National Broadcasting Co., backed by the deep pockets of parent General Electric Co., had tried to help fund Qintex Australia Ltd.'s now-scuttled $1.5 billion bid for MGM/UA Communications Co.@@@@1@38@@oe@2-2-2013
22451008@unknown@formal@none@1@S@NBC's interest may revive the deal, which MGM/UA killed last week when the Australian concern had trouble raising cash.@@@@1@19@@oe@2-2-2013
22451009@unknown@formal@none@1@S@Even if that deal isn't revived, NBC hopes to find another.@@@@1@11@@oe@2-2-2013
22451010@unknown@formal@none@1@S@"Our doors are open," an NBC spokesman says.@@@@1@8@@oe@2-2-2013
22451011@unknown@formal@none@1@S@NBC may yet find a way to take a passive, minority interest in a program-maker without violating the rules.@@@@1@19@@oe@2-2-2013
22451012@unknown@formal@none@1@S@And any NBC effort could prompt CBS Inc. and ABC's parent, Capital Cities/ABC Inc., to look for ways of skirting the fin-syn regulations.@@@@1@23@@oe@2-2-2013
22451013@unknown@formal@none@1@S@But the networks' push may only aggravate an increasingly bitter rift between them and Hollywood studios.@@@@1@16@@oe@2-2-2013
22451014@unknown@formal@none@1@S@Both sides are to sit down next month for yet another meeting on how they might agree on reducing fin-syn restraints.@@@@1@21@@oe@2-2-2013
22451015@unknown@formal@none@1@S@Few people privy to the talks expect the studios to budge.@@@@1@11@@oe@2-2-2013
22451016@unknown@formal@none@1@S@The networks still are "uninhibited in their authority" over what shows get on the air, charges Motion Picture Association President Jack Valenti, the most vociferous opponent of rescinding the rules.@@@@1@30@@oe@2-2-2013
22451017@unknown@formal@none@1@S@Studios are "powerless" to get shows in prime-time lineups and keep them there long enough to go into lucrative rerun sales, he contends.@@@@1@23@@oe@2-2-2013
22451018@unknown@formal@none@1@S@And that's why the rules, for the most part, must stay in place, he says.@@@@1@15@@oe@2-2-2013
22451019@unknown@formal@none@1@S@Studio executives in on the talks-including officials at Paramount Communications Inc., Fries Entertainment Inc., Warner Communications Inc. and MCA Inc. -- declined to be interviewed.@@@@1@25@@oe@2-2-2013
22451020@unknown@formal@none@1@S@But Mr. Valenti, who represents the studios, asserts: "The whole production industry, to a man, is on the side of preserving" the rules.@@@@1@23@@oe@2-2-2013
22451021@unknown@formal@none@1@S@Such proclamations leave network officials all the more doubtful that the studios will bend.@@@@1@14@@oe@2-2-2013
22451022@unknown@formal@none@1@S@"They don't seem to have an incentive to negotiate," says one network executive.@@@@1@13@@oe@2-2-2013
22451023@unknown@formal@none@1@S@"And there's no indication that Washington is prepared to address the rules.@@@@1@12@@oe@2-2-2013
22451024@unknown@formal@none@1@S@That's the problem, isn't it?"@@@@1@5@@oe@2-2-2013
22451025@unknown@formal@none@1@S@Indeed it is.@@@@1@3@@oe@2-2-2013
22451026@unknown@formal@none@1@S@Congress has said repeatedly it wants no part of the mess, urging the studios and the networks, which license rights to air shows made by the studios, to work out their own compromise.@@@@1@33@@oe@2-2-2013
22451027@unknown@formal@none@1@S@But recent developments have made the networks -- and NBC President Robert Wright, in particular -- ever more adamant that the networks must be unshackled to survive.@@@@1@27@@oe@2-2-2013
22451028@unknown@formal@none@1@S@The latest provocation: Sony Corp.'s plan to acquire Columbia Pictures Entertainment Inc. for $3.4 billion, and to buy independent producer Guber Peters Entertainment Co. for $200 million.@@@@1@27@@oe@2-2-2013
22451029@unknown@formal@none@1@S@"I wonder what Walter Cronkite will think of the Sony/Columbia Broadcast System Trinitron Evening News with Dan Rather broadcast exclusively from Tokyo," wrote J.B. Holston, an NBC vice president, in a commentary in last week's issue of Broadcasting magazine.@@@@1@39@@oe@2-2-2013
22451030@unknown@formal@none@1@S@In his article, Mr. Holston, who was in Europe last week and unavailable, complained that the "archaic restraints" in fin-syn rules have "contributed directly to the acquisition of the studios by non-U.S. enterprises.@@@@1@33@@oe@2-2-2013
22451031@unknown@formal@none@1@S@" (He didn't mention that NBC, in the meantime, was hoping to assist Australia's Qintex in buying@@@@1@17@@oe@2-2-2013
22451032@unknown@formal@none@1@S@An NBC spokesman counters that Mr. Holston's lament was "entirely consistent" with NBC plans because the U.S. rules would limit NBC's involvement in the Qintex deal so severely as to be "light years away from the type of unrestrained deals available to Sony -- and everyone else except the three networks."@@@@1@51@@oe@2-2-2013
22451033@unknown@formal@none@1@S@The Big Three's drumbeat for deregulation began intensifying in the summer when the former Time Inc. went ahead with plans to acquire Warner.@@@@1@23@@oe@2-2-2013
22451034@unknown@formal@none@1@S@Although Time already had a long-term contract to buy movies from Warner, the merger will let Time's largely unregulated pay-cable channel, Home Box Office, own the Warner movies aired on HBO -- a vertical integration that is effectively blocked by fin-syn regulations.@@@@1@42@@oe@2-2-2013
22451035@unknown@formal@none@1@S@NBC's Mr. Wright led the way in decrying the networks' inability to match a Time-Warner combination.@@@@1@16@@oe@2-2-2013
22451036@unknown@formal@none@1@S@He spoke up again when the Sony bid for Columbia was announced.@@@@1@12@@oe@2-2-2013
22451037@unknown@formal@none@1@S@Since NBC's interest in the Qintex bid for MGM/UA was disclosed, Mr. Wright hasn't been available for comment.@@@@1@18@@oe@2-2-2013
22451038@unknown@formal@none@1@S@With a Qintex deal, NBC would move into uncharted territory -- possibly raising hackles at the studios and in Washington.@@@@1@20@@oe@2-2-2013
22451039@unknown@formal@none@1@S@"It's never really been tested," says William Lilley III, who as a top CBS executive spent years lobbying to have the rules lifted.@@@@1@23@@oe@2-2-2013
22451040@unknown@formal@none@1@S@He now runs Policy Communications in Washington, consulting to media companies.@@@@1@11@@oe@2-2-2013
22451041@unknown@formal@none@1@S@Fin-syn rules don't explicitly block a network from buying a passive, small stake in a company that profits from the rerun syndication networks can't enjoy.@@@@1@25@@oe@2-2-2013
22451042@unknown@formal@none@1@S@Hence, NBC might be able to take, say, a 5% stake in a company such as MGM/UA.@@@@1@17@@oe@2-2-2013
22451043@unknown@formal@none@1@S@If the transaction raised objections, the studio's syndication operations could be spun off into a separate firm in which the network doesn't have a direct stake.@@@@1@26@@oe@2-2-2013
22451044@unknown@formal@none@1@S@But such convolutions would still block the networks from grabbing a big chunk of the riches of syndication.@@@@1@18@@oe@2-2-2013
22451045@unknown@formal@none@1@S@Under current rules, even when a network fares well with a 100%-owned series -- ABC, for example, made a killing in broadcasting its popular crime/comedy "Moonlighting" -- it isn't allowed to share in the continuing proceeds when the reruns are sold to local stations.@@@@1@44@@oe@2-2-2013
22451046@unknown@formal@none@1@S@Instead, ABC will have to sell off the rights for a one-time fee.@@@@1@13@@oe@2-2-2013
22451047@unknown@formal@none@1@S@The networks admit that the chances of getting the relief they want are slim -- for several years at the least.@@@@1@21@@oe@2-2-2013
22451048@unknown@formal@none@1@S@Six years ago they were tantalizingly close.@@@@1@7@@oe@2-2-2013
22451049@unknown@formal@none@1@S@The Reagan-era Federal Communications Commission had ruled in favor of killing most of the rules.@@@@1@15@@oe@2-2-2013
22451050@unknown@formal@none@1@S@Various evidence, including a Brookings Institution study of some 800 series that the networks had aired and had partly owned in the 1960s, showed the networks didn't wield undue control over the studios as had been alleged.@@@@1@37@@oe@2-2-2013
22451051@unknown@formal@none@1@S@But just eight days before the rules were to die, former President Ronald Reagan, a one-time actor, intervened on behalf of Hollywood.@@@@1@22@@oe@2-2-2013
22451052@unknown@formal@none@1@S@The FCC effort collapsed.@@@@1@4@@oe@2-2-2013
22451053@unknown@formal@none@1@S@The networks and studios have bickered ever since.@@@@1@8@@oe@2-2-2013
22451054@unknown@formal@none@1@S@Network officials involved in the studio talks may hope the foreign influx builds more support in Washington, but that seems unlikely.@@@@1@21@@oe@2-2-2013
22451055@unknown@formal@none@1@S@In Congress, the issue falters: It's about money, not program quality, and Hollywood has lots of clout given its fund raising for senators and representatives overseeing the issue.@@@@1@28@@oe@2-2-2013
22451056@unknown@formal@none@1@S@A spokesman for Rep. Edward J. Markey (D-Mass.), who heads a subcommittee that oversees the FCC, says Mr. Markey feels "the world has been forever changed by the Sony-Columbia deal."@@@@1@30@@oe@2-2-2013
22451057@unknown@formal@none@1@S@But he said Mr. Markey hopes this pushes the networks and studios to work it out on their own.@@@@1@19@@oe@2-2-2013
22451058@unknown@formal@none@1@S@And at the FCC, meanwhile, new Chairman Alfred C. Sikes has said he wants the two sides to hammer out their own plan.@@@@1@23@@oe@2-2-2013
22452001@unknown@formal@none@1@S@Recognition Equipment Inc. said it settled a civil action filed against it by the federal government on behalf of the U.S. Postal Service.@@@@1@23@@oe@2-2-2013
22452002@unknown@formal@none@1@S@The government sued the company in April, seeking $23,000 and other unspecified damages related to an alleged contract-steering scheme.@@@@1@19@@oe@2-2-2013
22452003@unknown@formal@none@1@S@The suit named the company, former chief executive officer William G. Moore Jr., former vice president Robert W. Reedy and five defendants who weren't part of the company.@@@@1@28@@oe@2-2-2013
22452004@unknown@formal@none@1@S@The suit charged the defendants with causing Peter E. Voss, an ex-member of the Postal Service board of governors, to accept $23,000 in bribes, kickbacks and gratuities.@@@@1@27@@oe@2-2-2013
22452005@unknown@formal@none@1@S@Mr. Voss was previously sentenced to four years in prison and fined $11,000 for his role in the scheme.@@@@1@19@@oe@2-2-2013
22452006@unknown@formal@none@1@S@In the agreement, Recognition agreed to pay the government $20,000 in return for the release of all claims against the company, Mr. Moore and Mr. Reedy.@@@@1@26@@oe@2-2-2013
22452007@unknown@formal@none@1@S@The five additional defendants weren't parties to the settlement.@@@@1@9@@oe@2-2-2013
22452008@unknown@formal@none@1@S@A trial on criminal allegations against the company and the same two former executives began Sept. 27 in federal court for the District of Columbia.@@@@1@25@@oe@2-2-2013
22452009@unknown@formal@none@1@S@They were indicted last October on charges of fraud, theft and conspiracy related to an effort to win $400 million in Postal Service equipment contracts by the maker of data management equipment.@@@@1@32@@oe@2-2-2013
22452010@unknown@formal@none@1@S@The company and its executives deny the charges.@@@@1@8@@oe@2-2-2013
22452011@unknown@formal@none@1@S@In a related development, Recognition Equipment said the Postal Service has barred the company from bidding on postal contracts for an additional 120 days.@@@@1@24@@oe@2-2-2013
22452012@unknown@formal@none@1@S@The Postal Service originally suspended the company Oct. 7, 1988, and has been renewing the ban ever since.@@@@1@18@@oe@2-2-2013
22452013@unknown@formal@none@1@S@The company said it will continue to pursue a lifting of the suspension.@@@@1@13@@oe@2-2-2013
22453001@unknown@formal@none@1@S@Intel Corp. reported a 50% drop in third-quarter net income, partly because of a one-time charge for discontinued operations.@@@@1@19@@oe@2-2-2013
22453002@unknown@formal@none@1@S@The big semiconductor and computer maker, said it had net of $72 million, or 38 cents, down 50% from $142.7 million, or 78 cents a share.@@@@1@26@@oe@2-2-2013
22453003@unknown@formal@none@1@S@The lower net included a charge of $35 million, equal to 12 cents a share on an after-tax basis, for the cost of abandoning a computer-systems joint venture with Siemens AG of West Germany.@@@@1@34@@oe@2-2-2013
22453004@unknown@formal@none@1@S@Earning also fell from the year-ago period because of slowing microchip demand.@@@@1@12@@oe@2-2-2013
22453005@unknown@formal@none@1@S@Sales amounted to $771.4 million, down 1.7% from $784.9 million.@@@@1@10@@oe@2-2-2013
22453006@unknown@formal@none@1@S@Intel's stock rose in early over-the-counter trading Friday, as investors appeared relieved that the company's income from continuing operations was only slightly below the second quarter's earnings of $99.3 million, or 53 cents a share, and that sales actually exceeded the $747.3 million for the second period.@@@@1@47@@oe@2-2-2013
22453007@unknown@formal@none@1@S@But Intel later succumbed to the stock market's plunge, closing at $31.75, down $2.125.@@@@1@14@@oe@2-2-2013
22453008@unknown@formal@none@1@S@In August, Intel warned that third-quarter earnings might be "flat to down" from the previous period's because of slowing sales growth of its 80386 microprocessor, start-up costs associated with a line of computers and costs of preparing for mass shipments of the company's new 80486 chip in the current quarter.@@@@1@50@@oe@2-2-2013
22453009@unknown@formal@none@1@S@On Friday, Andrew S.Grove, Intel president and chief executive officer, said "Intel's business is strong.@@@@1@15@@oe@2-2-2013
22453010@unknown@formal@none@1@S@Our bookings improved as the quarter progressed and September was especially good.@@@@1@12@@oe@2-2-2013
22453011@unknown@formal@none@1@S@For the full quarter, our bookings were higher than the previous quarter, and our book-to-bill ratio exceeded 1.0."@@@@1@18@@oe@2-2-2013
22453012@unknown@formal@none@1@S@For the nine-month period, Intel reported net of $268.3 million, or $1.43 a share, down 27% from $367.1 million, or $2.05 a share.@@@@1@23@@oe@2-2-2013
22453013@unknown@formal@none@1@S@Revenue amounted to $2.23 billion, up slightly from $2.15 billion.@@@@1@10@@oe@2-2-2013
22454001@unknown@formal@none@1@S@Walter Sisulu and the African National Congress came home yesterday.@@@@1@10@@oe@2-2-2013
22454002@unknown@formal@none@1@S@After 26 years in prison, Mr. Sisulu, the 77-year-old former secretary-general of the liberation movement, was dropped off at his house by a prison services' van just as the sun was coming up.@@@@1@33@@oe@2-2-2013
22454003@unknown@formal@none@1@S@At the same time, six ANC colleagues, five of whom were arrested with him in 1963 and sentenced to life imprisonment, were reunited with their families at various places around the country.@@@@1@32@@oe@2-2-2013
22454004@unknown@formal@none@1@S@And as the graying men returned to their homes, the ANC, outlawed in South Africa since 1960 and still considered to be the chief public enemy by the white government, defiantly returned to the streets of the country's black townships.@@@@1@40@@oe@2-2-2013
22454005@unknown@formal@none@1@S@A huge ANC flag, with black, green and gold stripes, was hoisted over the rickety gate at Mr. Sisulu's modest house, while on the street out front, boys displayed the ANC colors on their shirts, caps and scarves.@@@@1@38@@oe@2-2-2013
22454006@unknown@formal@none@1@S@At the small four-room home of Elias Motsoaledi, a leading ANC unionist and a former commander in the group's armed wing, Umkhonto we Sizwe, well-wishers stuck little ANC flags in their hair and a man tooted on an antelope horn wrapped in ANC ribbons.@@@@1@44@@oe@2-2-2013
22454007@unknown@formal@none@1@S@"I am happy to see the spirit of the people," said Mr. Sisulu, looking dapper in a new gray suit.@@@@1@20@@oe@2-2-2013
22454008@unknown@formal@none@1@S@As the crowd outside his home shouted "ANC, ANC," the old man shot his fists into the air.@@@@1@18@@oe@2-2-2013
22454009@unknown@formal@none@1@S@"I'm inspired by the mood of the people."@@@@1@8@@oe@2-2-2013
22454010@unknown@formal@none@1@S@Under the laws of the land, the ANC remains an illegal organization, and its headquarters are still in Lusaka, Zambia.@@@@1@20@@oe@2-2-2013
22454011@unknown@formal@none@1@S@But the unconditional release of the seven leaders, who once formed the intellectual and organizational core of the ANC, is a de facto unbanning of the movement and the rebirth of its internal wing.@@@@1@34@@oe@2-2-2013
22454012@unknown@formal@none@1@S@"The government can never put the ANC back into the bottle again," said Cassim Saloojee, a veteran anti-apartheid activist on hand to welcome Mr. Sisulu.@@@@1@25@@oe@2-2-2013
22454013@unknown@formal@none@1@S@"Things have gone too far for the government to stop them now.@@@@1@12@@oe@2-2-2013
22454014@unknown@formal@none@1@S@There's no turning back."@@@@1@4@@oe@2-2-2013
22454015@unknown@formal@none@1@S@There was certainly no stopping the tide of ANC emotion last night, when hundreds of people jammed into the Holy Cross Anglican Church in Soweto for what became the first ANC rally in the country in 30 years.@@@@1@38@@oe@2-2-2013
22454016@unknown@formal@none@1@S@Deafening chants of "ANC" and "Umkhonto we Sizwe" shook the church as the seven aging men vowed that the ANC would continue its fight against the government and the policies of racial segregation on all fronts, including the armed struggle.@@@@1@40@@oe@2-2-2013
22454017@unknown@formal@none@1@S@And they called on the government to release Nelson Mandela, the ANC's leading figure, who was jailed with them and remains in prison.@@@@1@23@@oe@2-2-2013
22454018@unknown@formal@none@1@S@Without him, said Mr. Sisulu, the freeing of the others "is only a half-measure."@@@@1@14@@oe@2-2-2013
22454019@unknown@formal@none@1@S@President F.W. de Klerk released the ANC men -- along with one of the founding members of the Pan Africanist Congress, a rival liberation group -- as part of his efforts to create a climate of trust and peace in which his government can begin negotiations with black leaders over a new constitution aimed at giving blacks a voice in national government.@@@@1@62@@oe@2-2-2013
22454020@unknown@formal@none@1@S@But Pretoria may instead be creating a climate for more turmoil and uncertainty in this racially divided country.@@@@1@18@@oe@2-2-2013
22454021@unknown@formal@none@1@S@As other repressive governments, particularly Poland and the Soviet Union, have recently discovered, initial steps to open up society can create a momentum for radical change that becomes difficult, if not impossible, to control.@@@@1@34@@oe@2-2-2013
22454022@unknown@formal@none@1@S@As the days go by, the South African government will be ever more hard pressed to justify the continued imprisonment of Mr. Mandela as well as the continued banning of the ANC and enforcement of the state of emergency.@@@@1@39@@oe@2-2-2013
22454023@unknown@formal@none@1@S@If it doesn't yield on these matters, and eventually begin talking directly to the ANC, the expectations and promise raised by yesterday's releases will turn to disillusionment and unrest.@@@@1@29@@oe@2-2-2013
22454024@unknown@formal@none@1@S@If it does, the large number of right-wing whites, who oppose any concessions to the black majority, will step up their agitation and threats to take matters into their own hands.@@@@1@31@@oe@2-2-2013
22454025@unknown@formal@none@1@S@The newly released ANC leaders also will be under enormous pressure.@@@@1@11@@oe@2-2-2013
22454026@unknown@formal@none@1@S@The government is watching closely to see if their presence in the townships leads to increased anti-government protests and violence; if it does, Pretoria will use this as a reason to keep Mr. Mandela behind bars.@@@@1@36@@oe@2-2-2013
22454027@unknown@formal@none@1@S@Pretoria hasn't forgotten why they were all sentenced to life imprisonment in the first place: for sabotage and conspiracy to overthrow the government.@@@@1@23@@oe@2-2-2013
22454028@unknown@formal@none@1@S@In addition, the government is figuring that the releases could create a split between the internal and external wings of the ANC and between the newly freed leaders and those activists who have emerged as leaders inside the country during their imprisonment.@@@@1@42@@oe@2-2-2013
22454029@unknown@formal@none@1@S@In order to head off any divisions, Mr. Mandela, in a meeting with his colleagues before they were released, instructed them to report to the ANC headquarters in Lusaka as soon as possible.@@@@1@33@@oe@2-2-2013
22454030@unknown@formal@none@1@S@The men also will be faced with bridging the generation gap between themselves and the country's many militant black youths, the so-called young lions who are anxious to see the old lions in action.@@@@1@34@@oe@2-2-2013
22454031@unknown@formal@none@1@S@Says Peter Mokaba, president of the South African Youth Congress: "We will be expecting them to act like leaders of the ANC."@@@@1@22@@oe@2-2-2013
22454032@unknown@formal@none@1@S@They never considered themselves to be anything else.@@@@1@8@@oe@2-2-2013
22454033@unknown@formal@none@1@S@At last night's rally, they called on their followers to be firm, yet disciplined, in their opposition to apartheid.@@@@1@19@@oe@2-2-2013
22454034@unknown@formal@none@1@S@"We emphasize discipline because we know that the government is very, very sensitive," said Andrew Mlangeni, another early Umkhonto leader who is now 63.@@@@1@24@@oe@2-2-2013
22454035@unknown@formal@none@1@S@"We want to see Nelson Mandela and all our comrades out of prison, and if we aren't disciplined we may not see them here with us.@@@@1@26@@oe@2-2-2013